# EDGAR Filing Document

**Accession Number:** 0002051630
**File Stem:** 0001410368-26-054040
**Filing Date:** 2026-5
**Character Count:** 173654
**Document Hash:** 3564da156e9ce22e09bb72ae2c341c41
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-054040.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001410368-26-054040

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lazard Active ETF Trust
- **CENTRAL INDEX KEY:** 0002051630

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-24041
- **FILM NUMBER:** 261029450

**BUSINESS ADDRESS:**
- **STREET 1:** C/O LAZARD ASSET MANAGEMENT LLC
- **STREET 2:** 30 ROCKEFELLER PLAZA
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10112
- **BUSINESS PHONE:** (800) 823-6300

**MAIL ADDRESS:**
- **STREET 1:** C/O LAZARD ASSET MANAGEMENT LLC
- **STREET 2:** 30 ROCKEFELLER PLAZA
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10112

## Series and Classes Contracts Data

### Lazard International Dynamic Equity ETF (Series ID: S000091514)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000259182 | Lazard International Dynamic Equity ETF | IDEQ            |

## Nport-Ex

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT

INVESTMENT COMPANIES

Investment Company Act file number 812-15842

Lazard Active ETF Trust<br> (Exact name of Registrant as specified in charter)

30 Rockefeller Plaza<br> New York, New York 10112<br> (Address of principal executive offices) (Zip code)

Mark R. Anderson, Esq.<br> Lazard Asset Management LLC

30 Rockefeller Plaza<br> New York, New York 10112<br> (Name and address of agent for service)

Registrant's telephone number, including area code: (212) 632-6000

Date of fiscal year end: 12/31

Date of reporting period: 3/31/2026

**Item 1. Schedule of Investments.**

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard Emerging Markets Opportunities ETF** | **Lazard Emerging Markets Opportunities ETF** |  |
| **Common Stocks \| 100.2%** |  |  |
| **Argentina \| 0.7%** |  |  |
| Grupo Financiero Galicia SA ADR | 21154 | $988103 |
| **Australia \| 1.0%** |  |  |
| Anglogold Ashanti PLC | 13578 | 1321954 |
| **Brazil \| 6.9%** |  |  |
| Banco BTG Pactual SA | 184275 | 1986392 |
| Itau Unibanco Holding SA ADR | 248196 | 2079882 |
| MercadoLibre, Inc. (\*) | 827 | 1429900 |
| NU Holdings Ltd., Class A (\*) | 73128 | 1050849 |
| PRIO SA (\*) | 136862 | 1735297 |
| TOTVS SA | 176054 | 1177975 |
|  |  | 9460295 |
| **China \| 21.2%** |  |  |
| Alibaba Group Holding Ltd. | 277000 | 4204357 |
| Atour Lifestyle Holdings Ltd. ADR | 30862 | 1136030 |
| BYD Co. Ltd., Class H | 143000 | 1929721 |
| China Merchants Bank Co. Ltd., Class H | 657500 | 4132752 |
| Contemporary Amperex Technology Co. Ltd., Class A | 60000 | 3488897 |
| Full Truck Alliance Co. Ltd. ADR | 104417 | 866661 |
| Innovent Biologics, Inc. (#), (\*) | 91000 | 985421 |
| Lenovo Group Ltd. | 1516000 | 1769266 |
| Shenzhen Inovance Technology Co. Ltd., Class A | 137799 | 1336460 |
| Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A | 30300 | 722214 |
| Tencent Holdings Ltd. | 90292 | 5574007 |
| Trip.com Group Ltd. | 23000 | 1117114 |
| Weichai Power Co. Ltd., Class H | 556000 | 1937441 |
|  |  | 29200341 |
| **Greece \| 3.1%** |  |  |
| GEK Terna SA | 45681 | 1782175 |
| Jumbo SA | 27031 | 684569 |
| National Bank of Greece SA | 115500 | 1761302 |
|  |  | 4228046 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Hong Kong \| 0.8%** |  |  |
| Techtronic Industries Co. Ltd. | 86000 | $1119946 |
| **India \| 13.0%** |  |  |
| Amber Enterprises India Ltd. (\*) | 9061 | 625633 |
| Bharti Airtel Ltd. | 110725 | 2080747 |
| HDFC Bank Ltd. ADR | 86126 | 2142815 |
| Hindalco Industries Ltd. GDR (#), (‡) | 172776 | 1615456 |
| ICICI Bank Ltd. ADR | 76704 | 1986633 |
| Infosys Ltd. ADR | 58639 | 792213 |
| InterGlobe Aviation Ltd. (#) | 24086 | 1001417 |
| ITC Ltd. | 216215 | 655834 |
| Larsen & Toubro Ltd. GDR | 23487 | 872542 |
| Lodha Developers Ltd. (#) | 112690 | 804345 |
| Polycab India Ltd. | 14203 | 1024771 |
| Reliance Industries Ltd. GDR (#) | 35340 | 2053254 |
| Supreme Industries Ltd. | 21013 | 829698 |
| Thermax Ltd. | 27503 | 945495 |
| Welspun Living Ltd. | 340664 | 389048 |
|  |  | 17819901 |
| **Indonesia \| 0.7%** |  |  |
| Bank Central Asia Tbk. PT | 2631200 | 998631 |
| **Mexico \| 3.3%** |  |  |
| Arca Continental SAB de CV | 113485 | 1300314 |
| Corp. Inmobiliaria Vesta SAB de CV ADR | 45529 | 1517937 |
| Grupo Financiero Banorte SAB de CV, Class O | 162123 | 1786260 |
|  |  | 4604511 |
| **Peru \| 1.0%** |  |  |
| Credicorp Ltd. | 4094 | 1388603 |
| **Philippines \| 1.2%** |  |  |
| BDO Unibank, Inc. | 364511 | 676821 |
| International Container Terminal Services, Inc. | 91470 | 1035907 |
|  |  | 1712728 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard Emerging Markets Opportunities ETF (continued)** | **Lazard Emerging Markets Opportunities ETF (continued)** | **Lazard Emerging Markets Opportunities ETF (continued)** |
| **Portugal \| 0.8%** |  |  |
| Jeronimo Martins SGPS SA | 46492 | $1101360 |
| **Qatar \| 0.5%** |  |  |
| Ooredoo QPSC | 197146 | 672495 |
| **Russia \| 0.0%** |  |  |
| Mobile TeleSystems PJSC ADR (\*), (¢) | 45259 | 0 |
| Sberbank of Russia PJSC (\*), (¢) | 213889 | 0 |
|  |  | 0 |
| **Saudi Arabia \| 3.5%** |  |  |
| Co. for Cooperative Insurance | 30412 | 1037344 |
| Saudi Arabian Oil Co. (#) | 286010 | 2088332 |
| Saudi National Bank | 148284 | 1652517 |
|  |  | 4778193 |
| **Singapore \| 0.4%** |  |  |
| Sea Ltd. ADR (\*) | 6358 | 526506 |
| **South Africa \| 5.1%** |  |  |
| Anglo American PLC | 72736 | 3049199 |
| Bidvest Group Ltd. | 68103 | 905321 |
| Capitec Bank Holdings Ltd. | 6202 | 1493607 |
| Shoprite Holdings Ltd. | 94646 | 1524952 |
|  |  | 6973079 |
| **South Korea \| 13.9%** |  |  |
| Hyundai Mobis Co. Ltd. | 3671 | 905976 |
| Kia Corp. | 16741 | 1587042 |
| Samsung Electronics Co. Ltd. GDR | 3813 | 10813668 |
| Shinhan Financial Group Co. Ltd. ADR | 36187 | 2218987 |
| SK hynix, Inc. GDR (#) | 6558 | 3593784 |
|  |  | 19119457 |
| **Taiwan \| 20.1%** |  |  |
| Accton Technology Corp. | 30000 | 1416953 |
| ASE Technology Holding Co. Ltd. | 184000 | 1890648 |
| MediaTek, Inc. | 41000 | 1910854 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| Nien Made Enterprise Co. Ltd. | 85000 | $877385 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 204000 | 11230529 |
| Taiwan Semiconductor Manufacturing Co. Ltd. ADR | 30418 | 10279763 |
|  |  | 27606132 |
| **Turkey \| 0.5%** |  |  |
| Akbank TAS | 419930 | 623097 |
| **United Arab Emirates \| 2.5%** |  |  |
| Adnoc Gas PLC | 1691826 | 1473837 |
| Alec Holdings PJSC | 1566023 | 596856 |
| Emaar Properties PJSC | 414606 | 1320581 |
|  |  | 3391274 |
| **Total Common Stocks**<br> (Cost $105,572,177) |  | 137634652 |
| **Short-Term Investments \| 0.8%** |  |  |
| Lazard Government Money Market Portfolio, 3.50% (7 day yield) (a)<br> (Cost $1,120,369) | 1120369 | 1120369 |
| **Total Investments \| 101.0%**<br> (Cost $106,692,546) |  | $**138755021** |
| **Liabilities in Excess of Cash and Other Assets \| (1.0)%** |  | **(1327366)** |
| **Net Assets \| 100.0%** |  | $**137427655** |

---

---

| | |
|:---|:---|
| (\*) | Non-income producing security. |
| (#) | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At March 31, 2026, these securities amounted to 8.8% of net assets of the Portfolio. |
| (‡) | Security valued using Level 2 inputs, based on reference to a similar security which was trading on an active market, under US Generally Accepted Accounting Principles in the United States of America hierarchy. |
| (¢) | Security in which significant unobservable inputs (Level 3) were used in determining fair value. |
| (a) | Affiliated investment. |

---

**Lazard Emerging Markets Opportunities ETF (concluded)**

**Affiliated Investment for the period ended March 31, 2026 were as follows:** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Issuer | Value at<br> December 31,<br> 2025 | Purchase<br> cost | Sales<br> proceeds | Realized<br> gain (loss) | Dividend<br> Income | Shares at<br> March 31, 2026 | Value at<br> March 31, 2026 |
| Lazard Government Money Market Portfolio | $1099706 | $10461192 | $(10440529) | $– $– $| 7524 | 1120369 | $1120369 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard Equity Megatrends ETF** |  |  |
| **Common Stocks \| 98.6%** |  |  |
| **Brazil \| 1.9%** |  |  |
| MercadoLibre, Inc. (\*) | 255 | $440900 |
| NU Holdings Ltd., Class A (\*) | 28676 | 412074 |
|  |  | 852974 |
| **France \| 2.7%** |  |  |
| EssilorLuxottica SA | 3422 | 782257 |
| LVMH Moet Hennessy Louis Vuitton SE | 809 | 431669 |
|  |  | 1213926 |
| **Germany \| 3.5%** |  |  |
| SAP SE | 3985 | 674494 |
| Siemens AG | 3919 | 928832 |
|  |  | 1603326 |
| **Hong Kong \| 1.1%** |  |  |
| AIA Group Ltd. | 47000 | 508654 |
| **India \| 2.8%** |  |  |
| ICICI Bank Ltd. ADR | 16043 | 415514 |
| Reliance Industries Ltd. GDR (#) | 15163 | 880970 |
|  |  | 1296484 |
| **Japan \| 8.9%** |  |  |
| FANUC Corp. | 29100 | 969817 |
| Japan Exchange Group, Inc. | 38500 | 437175 |
| Japan Post Bank Co. Ltd. | 24800 | 392445 |
| Keyence Corp. | 1800 | 620705 |
| Mitsubishi Electric Corp. | 40100 | 1257268 |
| Sony Group Corp. ADR | 19154 | 396488 |
|  |  | 4073898 |
| **Netherlands \| 0.4%** |  |  |
| Wolters Kluwer NV | 2711 | 201848 |
| **Singapore \| 1.0%** |  |  |
| DBS Group Holdings Ltd. | 6200 | 273441 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| Sea Ltd. ADR (\*) | 2455 | $203299 |
|  |  | 476740 |
| **South Korea \| 1.0%** |  |  |
| KB Financial Group, Inc. ADR | 4467 | 445494 |
| **Sweden \| 3.5%** |  |  |
| Atlas Copco AB, A Shares | 45507 | 779369 |
| Epiroc AB, Class A | 34047 | 818808 |
|  |  | 1598177 |
| **Switzerland \| 2.1%** |  |  |
| TE Connectivity PLC | 4545 | 949996 |
| **Taiwan \| 5.4%** |  |  |
| Taiwan Semiconductor Manufacturing Co. Ltd. ADR | 7243 | 2447772 |
| **United Kingdom \| 4.8%** |  |  |
| London Stock Exchange Group PLC | 5954 | 695960 |
| RELX PLC | 24020 | 784277 |
| Weir Group PLC | 19314 | 712633 |
|  |  | 2192870 |
| **United States \| 59.5%** |  |  |
| Alphabet, Inc., Class A | 5272 | 1516016 |
| Amazon.com, Inc. (\*) | 7810 | 1626589 |
| Amphenol Corp., Class A | 4604 | 581715 |
| Apple, Inc. | 3507 | 890041 |
| Applied Materials, Inc. | 4351 | 1487128 |
| Bank of America Corp. | 9271 | 451961 |
| Boston Scientific Corp. (\*) | 5566 | 349266 |
| Broadcom, Inc. | 3136 | 970623 |
| Chubb Ltd. | 1662 | 541696 |
| Danaher Corp. | 3976 | 753850 |
| Dolby Laboratories, Inc., Class A | 11410 | 685285 |
| Eli Lilly & Co. | 778 | 715581 |
| Equifax, Inc. | 3722 | 670221 |
| Experian PLC | 19072 | 653403 |
| GE HealthCare Technologies, Inc. | 10151 | 722548 |
| GE Vernova, Inc. | 596 | 520248 |
| Intercontinental Exchange, Inc. | 5913 | 929997 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard Equity Megatrends ETF (continued)** | **Lazard Equity Megatrends ETF (continued)** |  |
| IQVIA Holdings, Inc. (\*) | 4104 | $699896 |
| Keysight Technologies, Inc. (\*) | 4894 | 1381919 |
| Labcorp Holdings, Inc. | 1753 | 467718 |
| Marvell Technology, Inc. | 6138 | 607969 |
| Mastercard, Inc., Class A | 1342 | 670544 |
| Medtronic PLC | 5147 | 445988 |
| Meta Platforms, Inc., Class A | 1276 | 730038 |
| Microsoft Corp. | 3951 | 1462542 |
| NVIDIA Corp. | 7356 | 1282886 |
| PTC, Inc. (\*) | 2901 | 413363 |
| QUALCOMM, Inc. | 4310 | 555042 |
| S&P Global, Inc. | 1980 | 842173 |
| Schneider Electric SE | 3234 | 853676 |
| Stryker Corp. | 1508 | 495514 |
| Take-Two Interactive Software, Inc. (\*) | 3040 | 600400 |
| Thermo Fisher Scientific, Inc. | 1845 | 906873 |
| Visa, Inc., A Shares | 2132 | 644376 |
|  |  | 27127085 |
| **Total Common Stocks**<br> (Cost $42,705,286) |  | 44989244 |
| **Short-Term Investments \| 1.3%** |  |  |
| Lazard Government Money Market Portfolio, 3.50% (7 day yield) (a)<br> (Cost $571,805) | 571805 | 571805 |
| **Total Investments \| 99.9%**<br> (Cost $43,277,091) |  | $**45561049** |
| **Cash and Other Assets in Excess of Liabilities \| 0.1%** |  | **29563** |
| **Net Assets \| 100.0%** |  | $**45590612** |

---

---

| | |
|:---|:---|
| (\*) | Non-income producing security. |
| (#) | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At March 31, 2026, these securities amounted to 1.9% of net assets of the Portfolio. |
| (a) | Affiliated investment. |

---

**Lazard Equity Megatrends ETF (concluded)**

**Affiliated Investment for the period ended March 31, 2026 were as follows:** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Issuer | Value at<br> December 31,<br> 2025 | Purchase<br> cost | Sales<br> proceeds | Realized<br> gain (loss) | Dividend<br> Income | Shares at<br> March 31, 2026 | Value at<br> March 31, 2026 |
| Lazard Government Money Market Portfolio | $452755 | $2728392 | $(2609342) | $– $– $| 5670 | 571805 | $571805 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard International Dynamic Equity ETF** |  |  |
| **Common Stocks \| 96.4%** |  |  |
| **Australia \| 4.1%** |  |  |
| Alkane Resources Ltd. (\*) | 15342 | $14921 |
| Anglogold Ashanti PLC | 25402 | 2473139 |
| Austal Ltd. (\*) | 1698 | 5547 |
| Beach Energy Ltd. | 2506536 | 2223161 |
| BHP Group Ltd. | 117553 | 4057003 |
| Brambles Ltd. | 357632 | 5535693 |
| Bravura Solutions Ltd. | 1334282 | 1864254 |
| Fortescue Ltd. | 106210 | 1477415 |
| Macmahon Holdings Ltd. | 2654072 | 1299709 |
| Northern Star Resources Ltd. | 538 | 7502 |
| Perseus Mining Ltd. | 722481 | 2548361 |
| Qantas Airways Ltd. | 679865 | 3897403 |
| QBE Insurance Group Ltd. | 83044 | 1207495 |
| REA Group Ltd. | 21860 | 2341907 |
| Regis Healthcare Ltd. | 484452 | 2043896 |
| Regis Resources Ltd. | 250818 | 1142372 |
| SRG Global Ltd. | 918948 | 1548293 |
| Ventia Services Group Pty. Ltd. | 312230 | 1118416 |
| Virgin Australia Holdings Ltd. | 546880 | 898940 |
| West African Resources Ltd. (\*) | 567982 | 1244835 |
| Westpac Banking Corp. | 91235 | 2466356 |
|  |  | 39416618 |
| **Belgium \| 0.2%** |  |  |
| Proximus SADP | 173669 | 1400710 |
| **Brazil \| 0.1%** |  |  |
| Ambev SA | 416045 | 1215003 |
| **Canada \| 8.5%** |  |  |
| Agnico Eagle Mines Ltd. | 27091 | 5481484 |
| Aritzia, Inc. (\*) | 49222 | 4003928 |
| Badger Infrastructure Solutions Ltd. | 20877 | 928099 |
| Barrick Mining Corp. | 239732 | 9765873 |
| Dollarama, Inc. | 33391 | 4085017 |
| Fairfax Financial Holdings Ltd. | 2644 | 4490793 |
| Groupe Dynamite, Inc. | 38934 | 2136760 |
| Hydro One Ltd. (#) | 83694 | 3445395 |
| iA Financial Corp., Inc. | 180 | 19912 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| Kinross Gold Corp. | 166223 | $5065719 |
| Loblaw Cos. Ltd. | 223042 | 10136021 |
| Magna International, Inc. | 214386 | 11934827 |
| Manulife Financial Corp. | 54566 | 1873672 |
| Royal Bank of Canada | 22956 | 3699147 |
| Shopify, Inc., Class A (\*) | 23104 | 2732648 |
| Suncor Energy, Inc. | 89331 | 5889682 |
| Toronto-Dominion Bank | 58221 | 5420137 |
|  |  | 81109114 |
| **Chile \| 0.1%** |  |  |
| Latam Airlines Group SA | 47337051 | 1156417 |
| **China \| 8.5%** |  |  |
| Alibaba Group Holding Ltd. ADR | 16121 | 2022541 |
| Alibaba Group Holding Ltd. | 306300 | 4649078 |
| Bilibili, Inc., Class Z (\*) | 52200 | 1136520 |
| BOC Hong Kong Holdings Ltd. | 1786000 | 9749853 |
| Chengdu Hongqi Chain Co. Ltd., Class A | 1464400 | 1174369 |
| China Everbright Bank Co. Ltd., Class H | 4791000 | 1857687 |
| China Hongqiao Group Ltd. | 255500 | 1132775 |
| China Reinsurance Group Corp., Class H | 5657000 | 1060660 |
| Contemporary Amperex Technology Co. Ltd., Class H | 36600 | 2863970 |
| DingDong Cayman Ltd. ADR (\*) | 4780 | 12285 |
| ENN Natural Gas Co. Ltd., Class A | 887060 | 2848063 |
| GigaDevice Semiconductor, Inc., Class H | 22900 | 1001849 |
| H World Group Ltd. ADR | 24182 | 1216113 |
| Harbin Electric Co. Ltd., Class H | 398000 | 1055891 |
| Henan Yuneng Holdings Co. Ltd., Class A (\*) | 437619 | 869131 |
| Huaxia Bank Co. Ltd., Class A | 4034500 | 4274998 |
| Kuaishou Technology (#) | 249200 | 1434135 |
| Midea Group Co. Ltd., Class H | 124700 | 1332856 |
| NetEase, Inc. | 75100 | 1633192 |
| Newborn Town, Inc. (\*) | 994000 | 1009189 |
| PDD Holdings, Inc. ADR (\*) | 24817 | 2535801 |
| People's Insurance Co. Group of China Ltd., Class H | 4116000 | 2834928 |
| PetroChina Co. Ltd., Class H | 5222000 | 7160085 |
| Ping An Insurance Group Co. of China Ltd., Class H | 679500 | 5152455 |
| Pop Mart International Group Ltd. (#) | 78600 | 1439627 |
| Rockchip Electronics Co. Ltd., Class A | 49800 | 1097399 |
| Sino Biopharmaceutical Ltd. | 10000 | 7513 |
| Tencent Holdings Ltd. | 150500 | 9290834 |
| Xiaomi Corp., Class B (#) | 1800 | 7292 |
| Zhejiang Century Huatong Group Co. Ltd., Class A (\*) | 509300 | 1176635 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard International Dynamic Equity ETF (continued)** | **Lazard International Dynamic Equity ETF (continued)** | **Lazard International Dynamic Equity ETF (continued)** |
| Zhejiang Sanhua Intelligent Controls Co. Ltd., Class H | 535200 | $1914110 |
| Zhongji Innolight Co. Ltd., Class A | 18358 | 1513162 |
| Zijin Mining Group Co. Ltd., Class H | 1134000 | 4969802 |
|  |  | 81434798 |
| **Denmark \| 0.7%** |  |  |
| Novo Nordisk AS, Class B | 26381 | 939244 |
| Vestas Wind Systems AS | 201053 | 5894814 |
|  |  | 6834058 |
| **France \| 7.1%** |  |  |
| Airbus SE | 31663 | 5867052 |
| AXA SA | 71916 | 3251489 |
| BNP Paribas SA | 185645 | 17323772 |
| Gaztransport Et Technigaz SA | 13022 | 3048802 |
| Rubis SCA | 282 | 11197 |
| Safran SA | 3039 | 978329 |
| Societe Generale SA | 116535 | 8292614 |
| Thales SA | 4300 | 1249019 |
| TotalEnergies SE | 138393 | 12901617 |
| Vinci SA | 101636 | 15030425 |
|  |  | 67954316 |
| **Germany \| 2.7%** |  |  |
| Commerzbank AG | 78918 | 2799713 |
| Deutsche Bank AG | 222076 | 6426324 |
| Friedrich Vorwerk Group SE | 16115 | 1299739 |
| IONOS Group SE (\*) | 33360 | 955169 |
| Mercedes-Benz Group AG | 61479 | 3711103 |
| MTU Aero Engines AG | 24 | 8573 |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 1753 | 1089484 |
| Rheinmetall AG | 722 | 1201663 |
| Scout24 SE (#) | 14746 | 1121362 |
| Siemens Energy AG | 37096 | 6080050 |
| TUI AG | 189857 | 1446396 |
|  |  | 26139576 |
| **Hong Kong \| 1.8%** |  |  |
| AIA Group Ltd. | 115200 | 1246743 |
| Prudential PLC | 753492 | 10313873 |
| WH Group Ltd. (#) | 3382000 | 4425821 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| Zijin Gold International Co. Ltd. | 50300 | $1116965 |
|  |  | 17103402 |
| **Hungary \| 0.1%** |  |  |
| OTP Bank Nyrt | 9389 | 992228 |
| **India \| 3.7%** |  |  |
| Adani Ports & Special Economic Zone Ltd. | 110497 | 1529154 |
| Bank of India | 742663 | 1072628 |
| Canara Bank | 2819656 | 3669912 |
| Force Motors Ltd. | 5172 | 1058134 |
| Indian Bank | 456776 | 4072752 |
| Indus Towers Ltd. (\*) | 1181299 | 5207872 |
| Life Insurance Corp. of India | 175684 | 1344088 |
| Reliance Industries Ltd. GDR (#) | 41753 | 2425849 |
| South Indian Bank Ltd. | 8482052 | 3060197 |
| State Bank of India GDR | 54025 | 5715845 |
| Tata Motors Ltd./new (\*) | 1099 | 4574 |
| Union Bank of India Ltd. | 2438121 | 4220820 |
| Vedanta Ltd. | 291593 | 2013048 |
|  |  | 35394873 |
| **Indonesia \| 0.5%** |  |  |
| Japfa Comfeed Indonesia Tbk. PT | 8525300 | 1178879 |
| Perusahaan Gas Negara Persero Tbk. PT | 9480600 | 1029257 |
| Telkom Indonesia Persero Tbk. PT | 14940100 | 2690088 |
|  |  | 4898224 |
| **Ireland \| 0.1%** |  |  |
| AIB Group PLC | 124065 | 1288673 |
| **Israel \| 0.1%** |  |  |
| Delek Group Ltd. | 3276 | 1098951 |
| Wix.com Ltd. (\*) | 114 | 10268 |
|  |  | 1109219 |
| **Italy \| 2.1%** |  |  |
| Banca Monte dei Paschi di Siena SpA | 1148 | 9824 |
| Ferrari NV | 4960 | 1651609 |
| Intesa Sanpaolo SpA | 190106 | 1130466 |
| Leonardo SpA | 102887 | 6880432 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard International Dynamic Equity ETF (continued)** | **Lazard International Dynamic Equity ETF (continued)** | **Lazard International Dynamic Equity ETF (continued)** |
| Telecom Italia SpA (\*) | 3533687 | $2439651 |
| UniCredit SpA | 117518 | 8240701 |
|  |  | 20352683 |
| **Japan \| 13.2%** |  |  |
| Advantest Corp. | 18200 | 2325765 |
| Bandai Namco Holdings, Inc. | 201900 | 4907583 |
| Bridgestone Corp. | 55900 | 1147937 |
| Canon, Inc. | 288100 | 7890199 |
| Chugai Pharmaceutical Co. Ltd. | 35500 | 1921494 |
| Daiwa House Industry Co. Ltd. | 76100 | 2352504 |
| Denso Corp. | 1800 | 22035 |
| Fast Retailing Co. Ltd. | 11800 | 4571211 |
| Hitachi Ltd. | 202800 | 5690485 |
| Honda Motor Co. Ltd. | 426100 | 3368035 |
| Japan Airlines Co. Ltd. | 686400 | 11043062 |
| Japan Post Holdings Co. Ltd. | 1364900 | 15348583 |
| Japan Tobacco, Inc. | 242400 | 9172468 |
| KDX Realty Investment Corp. REIT | 3801 | 3837077 |
| Kioxia Holdings Corp. (\*) | 7400 | 887498 |
| Kyocera Corp. | 600 | 8969 |
| Kyushu Electric Power Co., Inc. | 252800 | 2872980 |
| Leopalace21 Corp. | 257000 | 1025803 |
| LY Corp. | 407400 | 980024 |
| Mitsubishi Electric Corp. | 308975 | 9687393 |
| Mitsui Fudosan Co. Ltd. | 185800 | 1933446 |
| Mizuho Financial Group, Inc. | 30400 | 1163145 |
| Nissan Chemical Corp. | 2200 | 82903 |
| NTT, Inc. | 5605700 | 5539104 |
| Sanki Engineering Co. Ltd. | 35700 | 1505733 |
| SoftBank Corp. | 1240200 | 1645648 |
| Sony Group Corp. | 305200 | 6156181 |
| Sumitomo Chemical Co. Ltd. | 730500 | 2293574 |
| Sumitomo Mitsui Financial Group, Inc. | 166400 | 5236020 |
| T&D Holdings, Inc. | 123900 | 3080950 |
| Tokyo Electron Ltd. | 17100 | 4001716 |
| Toyota Motor Corp. | 77700 | 1544330 |
| Workman Co. Ltd. | 57500 | 2255327 |
| World Co. Ltd. | 163900 | 1517535 |
|  |  | 127016717 |
| **Malaysia \| 0.6%** |  |  |
| 99 Speed Mart Retail Holdings Bhd. | 1689200 | 1422616 |
| Press Metal Aluminium Holdings Bhd. | 1653100 | 3266189 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| Sunway Construction Group Bhd. | 751900 | $1182910 |
|  |  | 5871715 |
| **Mexico \| 0.2%** |  |  |
| Gentera SAB de CV | 483632 | 1358293 |
| **Netherlands \| 5.1%** |  |  |
| ASM International NV | 13836 | 10154950 |
| ASML Holding NV | 18246 | 23528985 |
| EXOR NV | 46444 | 3513113 |
| Heineken Holding NV | 16832 | 1189811 |
| Koninklijke Ahold Delhaize NV | 195112 | 9057515 |
| Koninklijke Heijmans NV | 15003 | 1324143 |
|  |  | 48768517 |
| **Norway \| 0.1%** |  |  |
| Kongsberg Gruppen ASA | 30990 | 1313129 |
| **Philippines \| 0.6%** |  |  |
| International Container Terminal Services, Inc. | 516890 | 5853832 |
| **Poland \| 0.7%** |  |  |
| PGE Polska Grupa Energetyczna SA (\*) | 1232662 | 3481695 |
| Tauron Polska Energia SA (\*) | 1266420 | 3487024 |
|  |  | 6968719 |
| **Portugal \| 0.3%** |  |  |
| Banco Comercial Portugues SA, Class R | 1483872 | 1422485 |
| Jeronimo Martins SGPS SA | 49653 | 1176241 |
|  |  | 2598726 |
| **Saudi Arabia \| 0.8%** |  |  |
| Al Babtain Power & Telecommunication Co. | 145599 | 2556887 |
| Electrical Industries Co. | 449866 | 2002015 |
| Etihad Etisalat Co. | 102789 | 1788659 |
| Saudi Energy Co. | 369459 | 1666829 |
|  |  | 8014390 |
| **Singapore \| 0.9%** |  |  |
| Oversea-Chinese Banking Corp. Ltd. | 120300 | 2048592 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard International Dynamic Equity ETF (continued)** | **Lazard International Dynamic Equity ETF (continued)** | **Lazard International Dynamic Equity ETF (continued)** |
| Sea Ltd. ADR (\*) | 96 | $7950 |
| Singapore Technologies Engineering Ltd. | 297700 | 2494390 |
| United Overseas Bank Ltd. | 101700 | 2889048 |
| UOL Group Ltd. | 171600 | 1292835 |
|  |  | 8732815 |
| **South Africa \| 0.9%** |  |  |
| Gold Fields Ltd. ADR | 102878 | 4670661 |
| Harmony Gold Mining Co. Ltd. ADR | 163763 | 2517037 |
| Old Mutual Ltd. | 1254483 | 1011355 |
|  |  | 8199053 |
| **South Korea \| 4.7%** |  |  |
| Hana Financial Group, Inc. | 24798 | 1725895 |
| HD Hyundai Co. Ltd. | 23595 | 3681784 |
| HD Hyundai Electric Co. Ltd. | 1935 | 1051102 |
| HD Hyundai Heavy Industries Co. Ltd. | 5385 | 1634854 |
| HD Korea Shipbuilding & Offshore Engineering Co. Ltd. | 6681 | 1500515 |
| Hyundai Rotem Co. Ltd. | 9200 | 1018118 |
| KB Financial Group, Inc. | 15031 | 1392550 |
| Korea Electric Power Corp. | 248385 | 6754308 |
| Samsung Electronics Co. Ltd. | 156504 | 17084496 |
| SK Hynix, Inc. | 17148 | 9034986 |
|  |  | 44878608 |
| **Spain \| 2.1%** |  |  |
| Acciona SA | 6 | 1540 |
| Banco Bilbao Vizcaya Argentaria SA | 253374 | 5327859 |
| Banco Santander SA | 1312752 | 14354125 |
|  |  | 19683524 |
| **Sweden \| 1.6%** |  |  |
| Betsson AB, Class B | 142672 | 1500668 |
| Boliden AB (\*) | 122455 | 6243421 |
| Plejd AB (\*) | 11019 | 864054 |
| Saab AB, Class B | 30941 | 2005298 |
| Telefonaktiebolaget LM Ericsson ADR | 376567 | 4243910 |
|  |  | 14857351 |
| **Switzerland \| 1.1%** |  |  |
| ABB Ltd. | 92503 | 7280057 |
| Logitech International SA | 9959 | 896812 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| UBS Group AG | 67622 | $2586054 |
|  |  | 10762923 |
| **Taiwan \| 6.5%** |  |  |
| Accton Technology Corp. | 88000 | 4156397 |
| Arcadyan Technology Corp. | 175000 | 832030 |
| ASE Technology Holding Co. Ltd. | 187000 | 1921473 |
| Asia Vital Components Co. Ltd. | 32000 | 1991867 |
| ASPEED Technology, Inc. | 3000 | 1004066 |
| Delta Electronics, Inc. | 115000 | 4964029 |
| Jentech Precision Industrial Co. Ltd. | 11000 | 1305755 |
| MediaTek, Inc. | 114000 | 5313106 |
| MPI Corp. | 10000 | 1124492 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 692000 | 38095715 |
| United Integrated Services Co. Ltd. | 63000 | 1617861 |
|  |  | 62326791 |
| **Thailand \| 0.5%** |  |  |
| Advanced Info Service PCL (‡) | 186300 | 2107031 |
| Osotspa PCL (‡) | 4320400 | 1938809 |
| TMBThanachart Bank PCL NVDR | 15106400 | 1053509 |
|  |  | 5099349 |
| **Turkey \| 0.2%** |  |  |
| Ral Yatirim Holding AS (\*) | 362461 | 1642809 |
| **United Arab Emirates \| 0.7%** |  |  |
| Adnoc Gas PLC | 1136198 | 989800 |
| Aldar Properties PJSC | 471786 | 1000521 |
| Dubai Electricity & Water Authority PJSC | 5795826 | 4244350 |
|  |  | 6234671 |
| **United Kingdom \| 8.2%** |  |  |
| AstraZeneca PLC ADR | 67531 | 13318464 |
| Barclays PLC | 629335 | 3232060 |
| HSBC Holdings PLC | 427138 | 6880865 |
| Imperial Brands PLC | 298473 | 12032234 |
| International Consolidated Airlines Group SA, Class DI | 873474 | 4045795 |
| Legal & General Group PLC | 1704479 | 5536073 |
| NatWest Group PLC | 1656293 | 12082731 |
| Rolls-Royce Holdings PLC | 559589 | 8353363 |
| Saga PLC (\*) | 184303 | 1134998 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard International Dynamic Equity ETF (continued)** | **Lazard International Dynamic Equity ETF (continued)** | **Lazard International Dynamic Equity ETF (continued)** |
| Standard Chartered PLC | 373031 | $7649289 |
| Vodafone Group PLC | 2879672 | 4302478 |
|  |  | 78568350 |
| **United States \| 7.0%** |  |  |
| BeOne Medicines Ltd., Class H (\*) | 52000 | 1138134 |
| BRP, Inc. | 17721 | 1269822 |
| Buzzi SpA | 19393 | 962606 |
| GSK PLC | 738741 | 20107018 |
| Novartis AG | 140191 | 21085787 |
| Roche Holding AG | 42871 | 16789875 |
| Sanofi SA | 42857 | 4084700 |
| Shell PLC | 41728 | 1971606 |
| Titan SA | 812 | 42101 |
|  |  | 67451649 |
| **Total Common Stocks**<br> (Cost $908,454,504) |  | 924001843 |
| **Preferred Stocks \| 2.1%** |  |  |
| **Brazil \| 1.6%** |  |  |
| Petroleo Brasileiro SA - Petrobras | 1601734 | 14928598 |
| **Germany \| 0.5%** |  |  |
| Volkswagen AG | 52651 | 5241411 |
| **Total Preferred Stocks**<br> (Cost $16,324,851) |  | 20170009 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Rights \| 0.0%** |  |  |
| **Italy \| 0.0%** |  |  |
| Telecom Italia SpA, CVR, Expires 2026i (\*), (¢)<br> (Cost $0) | 2913553 | $27 |
| **Warrants \| 0.0%** |  |  |
| **Canada \| 0.0%** |  |  |
| Constellation Software, Inc., Expires 03/31/40i (\*), (¢) <br> (Cost $0) | 26 | 0 |
| **Short-Term Investments \| 1.2%** |  |  |
| Lazard Government Money Market Portfolio, 3.50% (7 day yield) (a)<br> (Cost $11,964,154) | 11964154 | 11964154 |
| **Total Investments \| 99.7%**<br> (Cost $936,743,509) |  | $**956136033** |
| **Cash and Other Assets in Excess of Liabilities \| 0.3%** |  | **3181000** |
| **Net Assets \| 100.0%** |  | $**959317033** |

---

---

| | |
|:---|:---|
| (\*) | Non-income producing security. |
| (#) | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At March 31, 2026, these securities amounted to 1.5% of net assets of the Portfolio. |
| (‡) | Security valued using Level 2 inputs, based on reference to a similar security which was trading on an active market, under US Generally Accepted Accounting Principles in the United States of America hierarchy. |
| (¢) | Security in which significant unobservable inputs (Level 3) were used in determining fair value. |
| (a) | Affiliated investment. |

---

**Lazard International Dynamic Equity ETF (concluded)**

**Affiliated Investment for the period ended March 31, 2026 were as follows:** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Issuer | Value at<br> December 31,<br> 2025 | Purchase<br> cost | Sales<br> proceeds | Realized<br> gain (loss) | Dividend<br> Income | Shares at<br> March 31, 2026 | Value at<br> March 31, 2026 |
| Lazard Government Money Market Portfolio | $1484079 | $106863913 | $(96383838) | $– $– $| 76056 | 11964154 | $11964154 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard Japanese Equity ETF** |  |  |
| **Common Stocks \| 99.0%** |  |  |
| **Automobile Components \| 1.6%** |  |  |
| Denso Corp. | 89100 | $1090717 |
| **Automobiles \| 3.6%** |  |  |
| Suzuki Motor Corp. | 102600 | 1209544 |
| Toyota Motor Corp. | 62000 | 1232283 |
|  |  | 2441827 |
| **Banks \| 15.0%** |  |  |
| Mitsubishi UFJ Financial Group, Inc. | 206200 | 3369916 |
| Mizuho Financial Group, Inc. | 65000 | 2486989 |
| Resona Holdings, Inc. | 155500 | 1683630 |
| Sumitomo Mitsui Financial Group, Inc. | 88800 | 2794222 |
|  |  | 10334757 |
| **Building Products \| 1.7%** |  |  |
| Daikin Industries Ltd. | 9700 | 1139258 |
| **Capital Markets \| 0.9%** |  |  |
| Nomura Holdings, Inc. | 86000 | 650852 |
| **Chemicals \| 7.0%** |  |  |
| Mitsui Chemicals, Inc. | 50000 | 584103 |
| Nippon Paint Holdings Co. Ltd. | 52100 | 319693 |
| Nippon Sanso Holdings Corp. | 34300 | 1192922 |
| Nissan Chemical Corp. | 10100 | 380599 |
| Nitto Denko Corp. | 41100 | 791567 |
| Shin-Etsu Chemical Co. Ltd. | 39900 | 1569766 |
|  |  | 4838650 |
| **Commercial Services & Supplies \| 0.3%** |  |  |
| Okamura Corp. | 13600 | 210723 |
| **Construction & Engineering \| 2.1%** |  |  |
| Shimizu Corp. | 81000 | 1411607 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Shares | Fair<br> Value | Fair<br> Value |
| **Consumer Staples Distribution & Retail \| 2.8%** |  |  |  |
| MatsukiyoCocokara & Co. | 45100 | $| 716089 |
| Seven & i Holdings Co. Ltd. | 89800 |  | 1198632 |
|  |  |  | 1914721 |
| **Containers & Packaging \| 0.6%** |  |  |  |
| Rengo Co. Ltd. | 50500 |  | 399169 |
| **Diversified Telecommunication Services \| 2.2%** |  |  |  |
| NTT, Inc. | 1539400 |  | 1521112 |
| **Electric Utilities \| 2.1%** |  |  |  |
| Kansai Electric Power Co., Inc. | 89200 |  | 1449100 |
| **Electrical Equipment \| 2.1%** |  |  |  |
| Mitsubishi Electric Corp. | 45700 |  | 1432847 |
| **Electronic Equipment, Instruments & Components \| 3.0%** | **Electronic Equipment, Instruments & Components \| 3.0%** | **Electronic Equipment, Instruments & Components \| 3.0%** | **Electronic Equipment, Instruments & Components \| 3.0%** |
| Keyence Corp. | 600 |  | 206902 |
| Murata Manufacturing Co. Ltd. | 35600 |  | 762841 |
| TDK Corp. | 89400 |  | 1104786 |
|  |  |  | 2074529 |
| **Financial Services \| 1.7%** |  |  |  |
| ORIX Corp. | 39600 |  | 1146755 |
| **Food Products \| 2.6%** |  |  |  |
| Toyo Suisan Kaisha Ltd. | 11800 |  | 815890 |
| Yakult Honsha Co. Ltd. | 56800 |  | 949702 |
|  |  |  | 1765592 |
| **Ground Transportation \| 1.4%** |  |  |  |
| East Japan Railway Co. | 42600 |  | 970677 |
| **Household Durables \| 5.0%** |  |  |  |
| Rinnai Corp. | 23900 |  | 549689 |
| Sony Group Corp. | 100700 |  | 2031217 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard Japanese Equity ETF (continued)** |  |  |
| Sumitomo Forestry Co. Ltd. | 93700 | $826921 |
|  |  | 3407827 |
| **Industrial Conglomerates \| 2.9%** |  |  |
| Hitachi Ltd. | 70700 | 1983813 |
| **Insurance \| 3.2%** |  |  |
| Tokio Marine Holdings, Inc. | 48500 | 2227909 |
| **Interactive Media & Services \| 0.8%** |  |  |
| Kakaku.com, Inc. | 41600 | 542194 |
| **IT Services \| 1.5%** |  |  |
| Fujitsu Ltd. | 50200 | 1000908 |
| **Machinery \| 7.9%** |  |  |
| Daifuku Co. Ltd. | 22300 | 760014 |
| FANUC Corp. | 21400 | 713199 |
| Komatsu Ltd. | 38100 | 1440036 |
| Makita Corp. | 26300 | 839305 |
| SMC Corp. | 3400 | 1279514 |
| THK Co. Ltd. | 14100 | 405301 |
|  |  | 5437369 |
| **Oil, Gas & Consumable Fuels \| 2.3%** |  |  |
| Inpex Corp. | 53400 | 1570213 |
| **Pharmaceuticals \| 4.3%** |  |  |
| Daiichi Sankyo Co. Ltd. | 65500 | 1138808 |
| Takeda Pharmaceutical Co. Ltd. | 50200 | 1787245 |
|  |  | 2926053 |
| **Professional Services \| 2.1%** |  |  |
| Recruit Holdings Co. Ltd. | 35800 | 1468545 |
| **Real Estate Management & Development \| 2.4%** |  |  |
| Daiwa House Industry Co. Ltd. | 15200 | 469882 |
| Mitsui Fudosan Co. Ltd. | 114700 | 1193575 |
|  |  | 1663457 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Semiconductors & Semiconductor Equipment \| 5.4%** | **Semiconductors & Semiconductor Equipment \| 5.4%** | **Semiconductors & Semiconductor Equipment \| 5.4%** |
| Disco Corp. | 3600 | $1385782 |
| SUMCO Corp. | 42600 | 444369 |
| Tokyo Electron Ltd. | 8000 | 1872148 |
|  |  | 3702299 |
| **Specialty Retail \| 1.0%** |  |  |
| Nitori Holdings Co. Ltd. | 44800 | 708932 |
| **Technology Hardware, Storage & Peripherals \| 1.4%** | **Technology Hardware, Storage & Peripherals \| 1.4%** | **Technology Hardware, Storage & Peripherals \| 1.4%** |
| FUJIFILM Holdings Corp. | 50600 | 943522 |
| **Trading Companies & Distributors \| 5.3%** |  |  |
| Mitsubishi Corp. | 75300 | 2516626 |
| Toyota Tsusho Corp. | 30600 | 1144447 |
|  |  | 3661073 |
| **Transportation Infrastructure \| 0.6%** |  |  |
| Mitsubishi Logistics Corp. | 51500 | 427629 |
| **Wireless Telecommunication Services \| 2.2%** |  |  |
| SoftBank Group Corp. | 68000 | 1519517 |
| **Total Common Stocks**<br> (Cost $58,848,127) |  | 67984153 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard Japanese Equity ETF (concluded)** | **Lazard Japanese Equity ETF (concluded)** | **Lazard Japanese Equity ETF (concluded)** |
| **Short-Term Investments \| 0.0%** |  |  |
| Lazard Government Money Market Portfolio, 3.50% (7 day yield) (a)<br> (Cost $288) | 288 | $288 |
| **Total Investments \| 99.0%**<br> (Cost $58,848,415) |  | $**67984441** |
| **Cash and Other Assets in Excess of Liabilites \| 1.0%** |  | **712102** |
| **Net Assets \| 100.0%** |  | $**68696543** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Affiliated investment.

**Affiliated Investment for the period ended March 31, 2026 were as follows:**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Issuer | Value at<br> December 31,<br> 2025 | Purchase<br> cost | Sales<br> proceeds | Realized<br> gain (loss) | Dividend<br> Income | Shares at<br> March 31, 2026 | Value at<br> March 31, 2026 |
| Lazard Government Money Market Portfolio | $587220 | $2200 | $(589132) | $– $– $| 291 | 288 | $288 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard Listed Infrastructure ETF** |  |  |
| **Common Stocks \| 97.8%** |  |  |
| **Australia \| 4.3%** |  |  |
| Transurban Group | 108171 | $1037949 |
| **Canada \| 7.7%** |  |  |
| Canadian National Railway Co. | 18079 | 1854861 |
| **France \| 6.0%** |  |  |
| Vinci SA | 9707 | 1435518 |
| **Italy \| 4.5%** |  |  |
| Snam SpA | 75171 | 567655 |
| Terna - Rete Elettrica Nazionale | 44391 | 504517 |
|  |  | 1072172 |
| **Spain \| 6.9%** |  |  |
| Aena SME SA (#) | 33145 | 974600 |
| Cellnex Telecom SA (#) | 21410 | 684061 |
|  |  | 1658661 |
| **United Kingdom \| 8.1%** |  |  |
| National Grid PLC | 116424 | 1949041 |
| **United States \| 60.3%** |  |  |
| Ameren Corp. | 4245 | 466610 |
| American Electric Power Co., Inc. | 3779 | 495351 |
| American Tower Corp. REIT | 5287 | 912430 |
| American Water Works Co., Inc. | 3868 | 526396 |
| Consolidated Edison, Inc. | 9059 | 1025298 |
| Crown Castle, Inc. | 10444 | 849202 |
| CSX Corp. | 27792 | 1140862 |
| Evergy, Inc. | 5700 | 466944 |
| Eversource Energy | 6145 | 425726 |
| Exelon Corp. | 20689 | 1014175 |
| Ferrovial SE | 7551 | 482168 |
| NextEra Energy, Inc. | 5483 | 509261 |
| NiSource, Inc. | 7847 | 366141 |
| Norfolk Southern Corp. | 3361 | 964607 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| OGE Energy Corp. | 23244 | $1114782 |
| Pinnacle West Capital Corp. | 11399 | 1148449 |
| Portland General Electric Co. | 21058 | 1111231 |
| PPL Corp. | 11991 | 458056 |
| Union Pacific Corp. | 4017 | 974605 |
|  |  | 14452294 |
| **Total Common Stocks**<br> (Cost $22,241,356) |  | 23460496 |
| **Short-Term Investments \| 1.9%** |  |  |
| Lazard Government Money Market Portfolio, 3.50% (7 day yield) (a)<br> (Cost $444,108) | 444108 | 444108 |
| **Total Investments \| 99.7%**<br> (Cost $22,685,464) (») |  | $**23904604** |
| **Cash and Other Assets in Excess of Liabilities \| 0.3%** |  | **76139** |
| **Net Assets \| 100.0%** |  | $**23980743** |

---

---

| | |
|:---|:---|
| (#) | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At March 31, 2026, these securities amounted to 6.9% of net assets of the Portfolio. |
| (a) | Affiliated investment. |
| (») | The Portfolio, at all times, maintains portfolio securities in sufficient amount to cover its obligations related to investments in forward currency contracts. |

---

**Lazard Listed Infrastructure ETF (concluded)**

**Affiliated Investment for the period ended March 31, 2026 were as follows:** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Issuer | Value at<br> December 31,<br> 2025 | Purchase<br> cost | Sales<br> proceeds | Realized<br> gain (loss) | Dividend<br> Income | Shares at<br> March 31, 2026 | Value at<br> March 31, 2026 |
| Lazard Government Money Market Portfolio | $166703 | $457704 | $(180299) | $– $– $| 2277 | 444108 | $444108 |

---

**Forward Currency Contracts open at March 31, 2026:**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Currency<br> Purchased | Quantity | Currency<br> Sold | Quantity | Counterparty | Settlement<br> Date | Unrealized<br> Appreciation | Unrealized<br> Depreciation |
| EUR | 135005 | USD | 157453 | SSB | 06/25/26 | $— | $812 |
| GBP | 149014 | USD | 199950 | SSB | 06/25/26 |  | 2769 |
| USD | 45357 | AUD | 63942 | MSC | 06/25/26 | 1295 |  |
| USD | 57378 | AUD | 83118 | RBC | 06/25/26 | 102 |  |
| USD | 196478 | AUD | 276993 | RBC | 06/25/26 | 5606 |  |
| USD | 787326 | AUD | 1109918 | SSB | 06/25/26 | 22499 |  |
| USD | 102365 | CAD | 141253 | RBC | 06/25/26 | 452 |  |
| USD | 372362 | CAD | 507697 | RBC | 06/25/26 | 6063 |  |
| USD | 1350836 | CAD | 1841825 | SSB | 06/25/26 | 21975 |  |
| USD | 684340 | EUR | 590430 | MSC | 06/25/26 |  | 714 |
| USD | 396333 | EUR | 341942 | RBC | 06/25/26 |  | 409 |
| USD | 256880 | EUR | 221690 | RBC | 06/25/26 |  | 339 |
| USD | 3373417 | EUR | 2910515 | SSB | 06/25/26 |  | 3544 |
| USD | 108768 | GBP | 81439 | MSC | 06/25/26 | 1005 |  |
| USD | 108949 | GBP | 81626 | RBC | 06/25/26 | 939 |  |
| USD | 147370 | GBP | 110360 | RBC | 06/25/26 | 1337 |  |
| USD | 1752537 | GBP | 1312414 | SSB | 06/25/26 | 15899 |  |
| Total gross unrealized appreciation/depreciation on Forward Currency Contracts | Total gross unrealized appreciation/depreciation on Forward Currency Contracts | Total gross unrealized appreciation/depreciation on Forward Currency Contracts | Total gross unrealized appreciation/depreciation on Forward Currency Contracts | Total gross unrealized appreciation/depreciation on Forward Currency Contracts | Total gross unrealized appreciation/depreciation on Forward Currency Contracts | $77172 | $8587 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard Next Gen Technologies ETF** |  |  |
| **Common Stocks \| 98.1%** |  |  |
| **China \| 4.5%** |  |  |
| Alibaba Group Holding Ltd. ADR | 5859 | $735070 |
| Tencent Holdings Ltd. ADR | 11852 | 749283 |
| Xiaomi Corp., Class B (#), (\*) | 117400 | 475578 |
|  |  | 1959931 |
| **Germany \| 2.1%** |  |  |
| Siemens Energy AG | 5521 | 904894 |
| **Italy \| 2.3%** |  |  |
| Prysmian SpA | 8933 | 1016703 |
| **Japan \| 6.6%** |  |  |
| Advantest Corp. | 7400 | 945641 |
| Disco Corp. | 1900 | 731385 |
| Resonac Holdings Corp. | 6500 | 400484 |
| Tokyo Electron Ltd. | 3300 | 772261 |
|  |  | 2849771 |
| **Netherlands \| 1.9%** |  |  |
| Nebius Group NV (\*) | 7793 | 808602 |
| **South Korea \| 5.4%** |  |  |
| HD Hyundai Electric Co. Ltd. | 1087 | 590464 |
| Hyundai Motor Co. | 1760 | 511918 |
| SK Hynix, Inc. | 2346 | 1236067 |
|  |  | 2338449 |
| **Taiwan \| 8.7%** |  |  |
| Accton Technology Corp. | 18000 | 850172 |
| Delta Electronics, Inc. | 12000 | 517985 |
| King Yuan Electronics Co. Ltd. | 94000 | 767407 |
| Taiwan Semiconductor Manufacturing Co. Ltd. ADR | 4824 | 1630271 |
|  |  | 3765835 |
| **United States \| 66.6%** |  |  |
| Advanced Micro Devices, Inc. (\*) | 3841 | 781375 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| Alphabet, Inc., Class A | 7411 | $2131107 |
| Amazon.com, Inc. (\*) | 7984 | 1662828 |
| Ambarella, Inc. (\*) | 10077 | 518714 |
| Amphenol Corp., Class A | 7986 | 1009031 |
| Applied Materials, Inc. | 2663 | 910187 |
| Arista Networks, Inc. (\*) | 6809 | 836009 |
| Autodesk, Inc. (\*) | 2827 | 676784 |
| Broadcom, Inc. | 4331 | 1340488 |
| Cadence Design Systems, Inc. (\*) | 2081 | 578247 |
| Cisco Systems, Inc. | 10886 | 844645 |
| Cloudflare, Inc., Class A (\*) | 3348 | 690826 |
| Coherent Corp. (\*) | 2517 | 599575 |
| Crowdstrike Holdings, Inc., Class A (\*) | 2010 | 784724 |
| Datadog, Inc., Class A (\*) | 7349 | 867549 |
| Dynatrace, Inc. (\*) | 15382 | 568826 |
| Eaton Corp. PLC | 2763 | 988242 |
| International Business Machines Corp. | 2864 | 694205 |
| JFrog Ltd. (\*) | 8725 | 409464 |
| Manhattan Associates, Inc. (\*) | 3604 | 479765 |
| Mastercard, Inc., Class A | 1650 | 824439 |
| Meta Platforms, Inc., Class A | 1116 | 638497 |
| Microsoft Corp. | 4861 | 1799396 |
| NVIDIA Corp. | 14911 | 2600478 |
| Palantir Technologies, Inc., Class A (\*) | 5719 | 836575 |
| Palo Alto Networks, Inc. (\*) | 4600 | 737472 |
| PTC, Inc. (\*) | 3467 | 494013 |
| Samsara, Inc., Class A (\*) | 14485 | 459030 |
| Snowflake, Inc. (\*) | 2374 | 358047 |
| Synopsys, Inc. (\*) | 1250 | 495600 |
| Tempus AI, Inc., Class A (\*) | 7904 | 357419 |
| Trimble, Inc. (\*) | 7536 | 491573 |
| Twilio, Inc., Class A (\*) | 5424 | 682448 |
| Uber Technologies, Inc. (\*) | 10000 | 719300 |
|  |  | 28866878 |
| **Total Common Stocks**<br> (Cost $35,465,393) |  | 42511063 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard Next Gen Technologies ETF (concluded)** | **Lazard Next Gen Technologies ETF (concluded)** |  |
| **Short-Term Investments \| 1.7%** |  |  |
| Lazard Government Money Market Portfolio, 3.50% (7 day yield) (a)<br> (Cost $745,004) | 745004 | $745004 |
| **Total Investments \| 99.8%**<br> (Cost $36,210,397) |  | $**43256067** |
| **Cash and Other Assets in Excess of Liabilities \| 0.2%** |  | **92207** |
| **Net Assets \| 100.0%** |  | $**43348274** |

---

---

| | |
|:---|:---|
| (#) | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At March 31, 2026, these securities amounted to 1.1% of net assets of the Portfolio. |
| (\*) | Non-income producing security. |
| (a) | Affiliated investment. |

---

**Affiliated Investment for the period ended March 31, 2026 were as follows:**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Issuer | Value at<br> December 31,<br> 2025 | Purchase<br> cost | Sales<br> proceeds | Realized<br> gain (loss) | Dividend<br> Income | Shares at<br> March 31, 2026 | Value at<br> March 31, 2026 |
| Lazard Government Money Market Portfolio | $507765 | $3710939 | $(3473700) | $– $– $| 8519 | 745004 | $745004 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard US Systematic Small Cap Equity ETF** | **Lazard US Systematic Small Cap Equity ETF** |  |
| **Closed-End Management Investment Companies \| 0.3%** | **Closed-End Management Investment Companies \| 0.3%** | **Closed-End Management Investment Companies \| 0.3%** |
| ASA Gold & Precious Metals Ltd. | 1692 | $104955 |
| Kayne Anderson Energy Infrastructure Fund | 2654 | 37899 |
| **Total Closed-End Management Investment Companies**<br> (Cost $69,010) |  | 142854 |
| **Common Stocks \| 98.6%** |  |  |
| **Aerospace & Defense \| 0.6%** |  |  |
| CAE, Inc. (\*) | 3737 | 97349 |
| Innovative Solutions & Support, Inc. (\*) | 5726 | 117555 |
| StandardAero, Inc. (\*) | 3692 | 95364 |
|  |  | 310268 |
| **Automobile Components \| 2.2%** |  |  |
| Autoliv, Inc. | 2561 | 269315 |
| BorgWarner, Inc. | 2009 | 109008 |
| Dauch Corp. (\*) | 28784 | 170689 |
| Garrett Motion, Inc. | 13010 | 236392 |
| Gentex Corp. | 11385 | 248762 |
| Gentherm, Inc. (\*) | 3527 | 97980 |
| Strattec Security Corp. (\*) | 1805 | 141404 |
|  |  | 1273550 |
| **Automobiles \| 0.2%** |  |  |
| Lucid Group, Inc. (\*) | 11678 | 111291 |
| **Banks \| 4.2%** |  |  |
| 1st Source Corp. | 2071 | 143334 |
| Ameris Bancorp | 1227 | 95694 |
| BancFirst Corp. | 701 | 76058 |
| Bank of NT Butterfield & Son Ltd. | 4823 | 253111 |
| Capital City Bank Group, Inc. | 561 | 24381 |
| Cathay General Bancorp | 1947 | 97077 |
| Central Pacific Financial Corp. | 3210 | 102592 |
| First BanCorp | 4492 | 95949 |
| First Business Financial Services, Inc. | 200 | 10786 |
| First Horizon Corp. | 4015 | 91381 |
| Home BancShares, Inc. | 3381 | 91050 |
| HomeTrust Bancshares, Inc. | 1320 | 56298 |
| Intercorp Financial Services, Inc. | 2415 | 121233 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| International Bancshares Corp. | 1450 | $97570 |
| Nicolet Bankshares, Inc. | 653 | 97049 |
| Popular, Inc. | 899 | 120619 |
| Republic Bancorp, Inc., Class A | 1139 | 80356 |
| South Plains Financial, Inc. | 1254 | 52543 |
| Southern Missouri Bancorp, Inc. | 1238 | 79158 |
| Trustmark Corp. | 4589 | 193380 |
| Unity Bancorp, Inc. | 1234 | 63958 |
| Webster Financial Corp. | 1595 | 110725 |
| Western Alliance Bancorp | 1212 | 85870 |
| WSFS Financial Corp. | 1724 | 112853 |
| Zions Bancorp NA | 2128 | 122615 |
|  |  | 2475640 |
| **Beverages \| 0.6%** |  |  |
| Coca-Cola Consolidated, Inc. | 1810 | 347049 |
| **Biotechnology \| 1.7%** |  |  |
| ACADIA Pharmaceuticals, Inc. (\*) | 12266 | 273041 |
| BioMarin Pharmaceutical, Inc. (\*) | 6124 | 345945 |
| Caris Life Sciences, Inc. | 4000 | 71520 |
| Ironwood Pharmaceuticals, Inc. (\*) | 4717 | 16557 |
| Neurocrine Biosciences, Inc. (\*) | 2379 | 313409 |
|  |  | 1020472 |
| **Building Products \| 2.2%** |  |  |
| Allegion PLC | 1311 | 190475 |
| Armstrong World Industries, Inc. | 664 | 109427 |
| AZZ, Inc. | 2450 | 306568 |
| Gibraltar Industries, Inc. (\*) | 5033 | 200666 |
| Hayward Holdings, Inc. (\*) | 17113 | 228972 |
| Insteel Industries, Inc. | 3898 | 131012 |
| Zurn Elkay Water Solutions Corp. | 2400 | 107616 |
|  |  | 1274736 |
| **Capital Markets \| 1.7%** |  |  |
| Evercore, Inc., Class A | 307 | 91643 |
| Federated Hermes, Inc. | 3949 | 223948 |
| Galaxy Digital, Inc., Class A (\*) | 3380 | 62361 |
| Houlihan Lokey, Inc. | 594 | 85310 |
| Janus Henderson Group PLC | 1959 | 100634 |
| Morningstar, Inc. | 392 | 66268 |
| SEI Investments Co. | 1235 | 96910 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard US Systematic Small Cap Equity ETF (continued)** | **Lazard US Systematic Small Cap Equity ETF (continued)** | **Lazard US Systematic Small Cap Equity ETF (continued)** |
| Stifel Financial Corp. | 1351 | $99866 |
| XP, Inc., Class A | 4625 | 88060 |
|  |  | 915000 |
| **Chemicals \| 2.2%** |  |  |
| Avient Corp. | 3435 | 124690 |
| Cabot Corp. | 3391 | 255376 |
| Ecovyst, Inc. (\*) | 2436 | 31327 |
| Intrepid Potash, Inc. (\*) | 2458 | 105129 |
| LSB Industries, Inc. (\*) | 9634 | 143547 |
| Methanex Corp. | 7442 | 443097 |
| Rayonier Advanced Materials, Inc. (\*) | 11014 | 121925 |
| RPM International, Inc. | 250 | 24850 |
|  |  | 1249941 |
| **Commercial Services & Supplies \| 2.7%** |  |  |
| ABM Industries, Inc. | 2426 | 93450 |
| Brink's Co. | 2397 | 248401 |
| Healthcare Services Group, Inc. (\*) | 10451 | 193866 |
| Interface, Inc. | 14390 | 358599 |
| Liquidity Services, Inc. (\*) | 7018 | 214540 |
| OPENLANE, Inc. (\*) | 13418 | 391135 |
| Tetra Tech, Inc. | 814 | 24518 |
| UniFirst Corp. | 142 | 35726 |
|  |  | 1560235 |
| **Communications Equipment \| 2.1%** |  |  |
| AudioCodes Ltd. | 3159 | 26567 |
| Aviat Networks, Inc. (\*) | 1422 | 32151 |
| Digi International, Inc. (\*) | 4677 | 225431 |
| Ituran Location & Control Ltd. | 3787 | 185601 |
| Viavi Solutions, Inc. (\*) | 18926 | 629857 |
| Vistance Networks, Inc. (\*) | 6571 | 119592 |
|  |  | 1219199 |
| **Construction & Engineering \| 3.4%** |  |  |
| Arcosa, Inc. | 2615 | 277556 |
| Bowman Consulting Group Ltd. (\*) | 2666 | 75821 |
| Centuri Holdings, Inc. (\*) | 3624 | 105857 |
| Great Lakes Dredge & Dock Corp. (\*) | 13352 | 226984 |
| IES Holdings, Inc. (\*) | 295 | 140559 |
| Legence Corp., Class A | 2372 | 133923 |
| MYR Group, Inc. (\*) | 1043 | 294460 |
| NWPX Infrastructure, Inc. (\*) | 1936 | 150737 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Shares | Fair<br> Value | Fair<br> Value |
| Primoris Services Corp. | 735 | $| 105134 |
| Stantec, Inc. | 3044 |  | 263002 |
| Tutor Perini Corp. | 2690 |  | 207641 |
|  |  |  | 1981674 |
| **Construction Materials \| 0.5%** |  |  |  |
| U.S. Lime & Minerals, Inc. | 2274 |  | 297007 |
| **Consumer Finance \| 0.4%** |  |  |  |
| FirstCash Holdings, Inc. | 695 |  | 130660 |
| OneMain Holdings, Inc. | 1737 |  | 92912 |
|  |  |  | 223572 |
| **Consumer Staples Distribution & Retail \| 0.3%** | **Consumer Staples Distribution & Retail \| 0.3%** |  |  |
| BBB Foods, Inc., Class A (\*) | 2704 |  | 95641 |
| United Natural Foods, Inc. (\*) | 367 |  | 16537 |
| Village Super Market, Inc., Class A | 1550 |  | 65456 |
|  |  |  | 177634 |
| **Containers & Packaging \| 0.4%** |  |  |  |
| Sonoco Products Co. | 4217 |  | 228098 |
| **Diversified Consumer Services \| 2.8%** | **Diversified Consumer Services \| 2.8%** |  |  |
| ADT, Inc. | 20426 |  | 134199 |
| Afya Ltd., Class A | 1758 |  | 26141 |
| Covista, Inc. (\*) | 2999 |  | 345635 |
| Frontdoor, Inc. (\*) | 3139 |  | 165928 |
| Grand Canyon Education, Inc. (\*) | 506 |  | 86035 |
| Laureate Education, Inc. (\*) | 7767 |  | 270602 |
| Liberty Live Holdings, Inc., Class C (\*) | 1138 |  | 107097 |
| Lincoln Educational Services Corp. (\*) | 3600 |  | 146448 |
| Perdoceo Education Corp. | 7890 |  | 293587 |
| Strategic Education, Inc. | 892 |  | 74000 |
|  |  |  | 1649672 |
| **Diversified REITs \| 0.2%** |  |  |  |
| Broadstone Net Lease, Inc. | 5408 |  | 98804 |
| **Diversified Telecommunication Services \| 1.0%** | **Diversified Telecommunication Services \| 1.0%** | **Diversified Telecommunication Services \| 1.0%** | **Diversified Telecommunication Services \| 1.0%** |
| GCI Liberty, Inc., Class C (\*) | 2709 |  | 100802 |
| IDT Corp., Class B | 1007 |  | 49444 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Shares | Fair<br> Value | Fair<br> Value |
| **Lazard US Systematic Small Cap Equity ETF (continued)** | **Lazard US Systematic Small Cap Equity ETF (continued)** | **Lazard US Systematic Small Cap Equity ETF (continued)** | **Lazard US Systematic Small Cap Equity ETF (continued)** |
| IHS Holding Ltd. (\*) | 14139 | $| 116364 |
| Uniti Group, Inc. | 28492 |  | 267255 |
|  |  |  | 533865 |
| **Electrical Equipment \| 3.0%** |  |  |  |
| Acuity, Inc. | 515 |  | 144313 |
| Atkore, Inc. | 1771 |  | 104330 |
| Babcock & Wilcox Enterprises, Inc. (\*) | 6949 |  | 102081 |
| Electrovaya, Inc. (\*) | 5142 |  | 40210 |
| EnerSys | 1980 |  | 343966 |
| Fluence Energy, Inc. (\*) | 9701 |  | 133486 |
| Nextpower, Inc., Class A (\*) | 1235 |  | 148879 |
| Regal Rexnord Corp. | 688 |  | 128835 |
| Sunrun, Inc. (\*) | 9583 |  | 129945 |
| T1 Energy, Inc. (\*) | 33579 |  | 147412 |
| Thermon Group Holdings, Inc. (\*) | 4356 |  | 219542 |
|  |  |  | 1642999 |
| **Electronic Equipment, Instruments & Components \| 6.5%** | **Electronic Equipment, Instruments & Components \| 6.5%** | **Electronic Equipment, Instruments & Components \| 6.5%** | **Electronic Equipment, Instruments & Components \| 6.5%** |
| Arrow Electronics, Inc. (\*) | 1479 |  | 212103 |
| Benchmark Electronics, Inc. | 3572 |  | 200246 |
| Coherent Corp. (\*) | 2108 |  | 502147 |
| CTS Corp. | 4136 |  | 197535 |
| Daktronics, Inc. (\*) | 5106 |  | 99822 |
| ePlus, Inc. | 2503 |  | 188351 |
| Fabrinet (\*) | 241 |  | 125686 |
| Insight Enterprises, Inc. (\*) | 1270 |  | 85103 |
| Kimball Electronics, Inc. (\*) | 6573 |  | 155714 |
| Knowles Corp. (\*) | 7876 |  | 202256 |
| Lightwave Logic, Inc. (\*) | 12511 |  | 87952 |
| Littelfuse, Inc. | 692 |  | 234830 |
| nLight, Inc. (\*) | 1880 |  | 107198 |
| Plexus Corp. (\*) | 988 |  | 200110 |
| Rogers Corp. (\*) | 1363 |  | 146291 |
| Sanmina Corp. (\*) | 1859 |  | 241001 |
| ScanSource, Inc. (\*) | 3076 |  | 111659 |
| TD SYNNEX Corp. | 1339 |  | 225903 |
| Vontier Corp. | 4574 |  | 162240 |
| Zebra Technologies Corp., Class A (\*) | 1116 |  | 233333 |
|  |  |  | 3719480 |
| **Energy Equipment & Services \| 1.4%** | **Energy Equipment & Services \| 1.4%** |  |  |
| Archrock, Inc. | 3984 |  | 138643 |
| Enerflex Ltd. | 10093 |  | 211146 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| Flowco Holdings, Inc., Class A | 6521 | $134333 |
| National Energy Services Reunited Corp. (\*) | 7366 | 158148 |
| Ranger Energy Services, Inc., Class A | 4571 | 78347 |
| Weatherford International PLC | 1466 | 138654 |
|  |  | 859271 |
| **Entertainment \| 0.2%** |  |  |
| Madison Square Garden Entertainment Corp. (\*) | 1760 | 103682 |
| **Financial Services \| 1.4%** |  |  |
| Banco Latinoamericano de Comercio Exterior SA | 2089 | 106706 |
| Cass Information Systems, Inc. | 1549 | 68187 |
| Jack Henry & Associates, Inc. | 610 | 96404 |
| NMI Holdings, Inc. (\*) | 5150 | 193176 |
| Paymentus Holdings, Inc., Class A (\*) | 4198 | 106629 |
| Radian Group, Inc. | 2656 | 87860 |
| WEX, Inc. (\*) | 711 | 108811 |
|  |  | 767773 |
| **Food Products \| 1.9%** |  |  |
| Dole PLC | 14430 | 206205 |
| Fresh Del Monte Produce, Inc. | 7321 | 294743 |
| Lamb Weston Holdings, Inc. | 2634 | 111313 |
| Marzetti Co. | 640 | 88531 |
| Nomad Foods Ltd. | 19206 | 184570 |
| Seneca Foods Corp., Class A (\*) | 1091 | 164872 |
|  |  | 1050234 |
| **Gas Utilities \| 0.7%** |  |  |
| National Fuel Gas Co. | 2999 | 281786 |
| New Jersey Resources Corp. | 2071 | 113739 |
|  |  | 395525 |
| **Ground Transportation \| 0.4%** |  |  |
| Ryder System, Inc. | 678 | 138793 |
| Werner Enterprises, Inc. | 3318 | 97582 |
|  |  | 236375 |
| **Health Care Equipment & Supplies \| 4.2%** | **Health Care Equipment & Supplies \| 4.2%** |  |
| Align Technology, Inc. (\*) | 1761 | 301888 |
| AtriCure, Inc. (\*) | 2930 | 83593 |
| Avanos Medical, Inc. (\*) | 17627 | 246954 |
| Bioventus, Inc., Class A (\*) | 7615 | 69525 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard US Systematic Small Cap Equity ETF (continued)** | **Lazard US Systematic Small Cap Equity ETF (continued)** | **Lazard US Systematic Small Cap Equity ETF (continued)** |
| Envista Holdings Corp. (\*) | 4162 | $105590 |
| Glaukos Corp. (\*) | 1165 | 125424 |
| Globus Medical, Inc., Class A (\*) | 4758 | 409949 |
| Inmode Ltd. (\*) | 8663 | 118510 |
| LeMaitre Vascular, Inc. | 2618 | 285807 |
| LivaNova PLC (\*) | 3175 | 201803 |
| NeuroPace, Inc. (\*) | 6404 | 84213 |
| Penumbra, Inc. (\*) | 627 | 205888 |
| Teleflex, Inc. | 2112 | 252616 |
|  |  | 2491760 |
| **Health Care Providers & Services \| 2.2%** | **Health Care Providers & Services \| 2.2%** |  |
| Chemed Corp. | 174 | 65727 |
| Clover Health Investments Corp. (\*) | 100917 | 177614 |
| Encompass Health Corp. | 1045 | 101083 |
| Enhabit, Inc. (\*) | 20102 | 283237 |
| National HealthCare Corp. | 1098 | 175351 |
| Pediatrix Medical Group, Inc. (\*) | 10358 | 221558 |
| Universal Health Services, Inc., Class B | 1075 | 192393 |
| Viemed Healthcare, Inc. (\*) | 6292 | 57949 |
|  |  | 1274912 |
| **Health Care REITs \| 0.6%** |  |  |
| Healthcare Realty Trust, Inc. | 5409 | 91899 |
| Healthpeak Properties, Inc. | 5278 | 86718 |
| Omega Healthcare Investors, Inc. | 2219 | 97237 |
|  |  | 275854 |
| **Health Care Technology \| 0.0%** |  |  |
| HealthStream, Inc. | 1070 | 22160 |
| **Hotel & Resort REITs \| 0.4%** |  |  |
| Host Hotels & Resorts, Inc. | 5399 | 103445 |
| Sunstone Hotel Investors, Inc. | 10868 | 97921 |
|  |  | 201366 |
| **Hotels, Restaurants & Leisure \| 1.8%** | **Hotels, Restaurants & Leisure \| 1.8%** |  |
| Accel Entertainment, Inc. (\*) | 17727 | 193402 |
| Churchill Downs, Inc. | 1074 | 96477 |
| Global Business Travel Group I (\*) | 14994 | 83667 |
| Life Time Group Holdings, Inc. (\*) | 4231 | 113983 |
| Monarch Casino & Resort, Inc. | 3346 | 319878 |
| Texas Roadhouse, Inc. | 659 | 108827 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Shares | Fair<br> Value | Fair<br> Value |
| Travel & Leisure Co. | 1589 | $| 109943 |
|  |  |  | 1026177 |
| **Household Durables \| 0.5%** |  |  |  |
| Hamilton Beach Brands Holding Co., Class A | 1123 |  | 21281 |
| M/I Homes, Inc. (\*) | 175 |  | 21429 |
| Taylor Morrison Home Corp. (\*) | 4855 |  | 282755 |
|  |  |  | 325465 |
| **Household Products \| 0.2%** |  |  |  |
| Central Garden & Pet Co., Class A (\*) | 3313 |  | 107407 |
| **Independent Power & Renewable Electricity Producers \| 0.1%** | **Independent Power & Renewable Electricity Producers \| 0.1%** | **Independent Power & Renewable Electricity Producers \| 0.1%** | **Independent Power & Renewable Electricity Producers \| 0.1%** |
| ReNew Energy Global PLC, Class A (\*) | 7637 |  | 34977 |
| **Industrial REITs \| 0.6%** |  |  |  |
| EastGroup Properties, Inc. | 479 |  | 88658 |
| First Industrial Realty Trust, Inc. | 1337 |  | 77345 |
| STAG Industrial, Inc. | 2020 |  | 72841 |
| Terreno Realty Corp. | 1677 |  | 103001 |
|  |  |  | 341845 |
| **Insurance \| 2.4%** |  |  |  |
| American Financial Group, Inc. | 670 |  | 85566 |
| Assurant, Inc. | 438 |  | 95401 |
| Axis Capital Holdings Ltd. | 1244 |  | 126154 |
| Everest Group Ltd. | 323 |  | 105573 |
| Globe Life, Inc. | 968 |  | 134717 |
| Hamilton Insurance Group Ltd., Class B | 7519 |  | 224292 |
| Hanover Insurance Group, Inc. | 677 |  | 117358 |
| Old Republic International Corp. | 2453 |  | 97875 |
| RenaissanceRe Holdings Ltd. | 358 |  | 106408 |
| RLI Corp. | 1312 |  | 74836 |
| Selective Insurance Group, Inc. | 1192 |  | 89865 |
| White Mountains Insurance Group Ltd. | 47 |  | 103257 |
|  |  |  | 1361302 |
| **Interactive Media & Services \| 1.1%** |  |  |  |
| Match Group, Inc. | 6658 |  | 204467 |
| QuinStreet, Inc. (\*) | 17776 |  | 213490 |
| Taboola.com Ltd. (\*) | 53502 |  | 165856 |
|  |  |  | 583813 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard US Systematic Small Cap Equity ETF (continued)** | **Lazard US Systematic Small Cap Equity ETF (continued)** | **Lazard US Systematic Small Cap Equity ETF (continued)** |
| **IT Services \| 1.0%** |  |  |
| Amdocs Ltd. | 1649 | $107614 |
| CI&T, Inc., Class A (\*) | 2478 | 12564 |
| GoDaddy, Inc., Class A (\*) | 2167 | 179146 |
| Kyndryl Holdings, Inc. (\*) | 8696 | 114092 |
| Matrix IT Ltd. (\*), (¢) | 1027 | 28462 |
| Okta, Inc. (\*) | 374 | 29438 |
| Whitefiber, Inc. | 5544 | 66029 |
|  |  | 537345 |
| **Leisure Products \| 0.2%** |  |  |
| Mattel, Inc. (\*) | 6405 | 93065 |
| **Life Sciences Tools & Services \| 1.3%** | **Life Sciences Tools & Services \| 1.3%** |  |
| Adaptive Biotechnologies Corp. (\*) | 2293 | 31827 |
| Avantor, Inc. (\*) | 9099 | 71336 |
| Bio-Rad Laboratories, Inc., Class A (\*) | 990 | 275962 |
| Bio-Techne Corp. | 452 | 23622 |
| ICON PLC (\*) | 1237 | 136886 |
| Sotera Health Co. (\*) | 6986 | 100179 |
| Stevanato Group SpA | 7030 | 96663 |
|  |  | 736475 |
| **Machinery \| 7.0%** |  |  |
| AGCO Corp. | 1702 | 197211 |
| Columbus McKinnon Corp. | 9973 | 144908 |
| Douglas Dynamics, Inc. | 7290 | 306836 |
| Enpro, Inc. | 470 | 117805 |
| ESCO Technologies, Inc. | 1472 | 414177 |
| Franklin Electric Co., Inc. | 1911 | 176137 |
| Gates Industrial Corp. PLC (\*) | 8599 | 194423 |
| Helios Technologies, Inc. | 1456 | 94218 |
| JBT Marel Corp. | 345 | 44115 |
| Kennametal, Inc. | 5178 | 187081 |
| Lincoln Electric Holdings, Inc. | 462 | 115075 |
| Mueller Industries, Inc. | 4804 | 532283 |
| Mueller Water Products, Inc., Class A | 12740 | 350223 |
| Proto Labs, Inc. (\*) | 5035 | 287096 |
| SPX Technologies, Inc. (\*) | 545 | 108967 |
| Stanley Black & Decker, Inc. | 341 | 24231 |
| Terex Corp. | 5812 | 343489 |
| Timken Co. | 3266 | 328462 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| Worthington Enterprises, Inc. | 2130 | $111058 |
|  |  | 4077795 |
| **Marine Transportation \| 1.0%** |  |  |
| Danaos Corp. | 952 | 107233 |
| Kirby Corp. (\*) | 1554 | 206496 |
| Matson, Inc. | 666 | 109184 |
| Star Bulk Carriers Corp. | 4371 | 100402 |
|  |  | 523315 |
| **Media \| 0.6%** |  |  |
| New York Times Co., Class A | 344 | 28803 |
| News Corp., Class A | 8407 | 209586 |
| Versant Media Group, Inc. (\*) | 3060 | 113281 |
|  |  | 351670 |
| **Metals & Mining \| 0.4%** |  |  |
| Galiano Gold, Inc. (\*) | 35467 | 89022 |
| Ryerson Holding Corp. | 7712 | 173366 |
|  |  | 262388 |
| **Oil, Gas & Consumable Fuels \| 3.7%** |  |  |
| Antero Midstream Corp. | 4033 | 91952 |
| Baytex Energy Corp. | 33774 | 150970 |
| Bw Lpg Ltd. (#) | 12061 | 209500 |
| California Resources Corp. | 2148 | 148685 |
| Dorian LPG Ltd. | 3665 | 125343 |
| DT Midstream, Inc. | 1028 | 138441 |
| Excelerate Energy, Inc., Class A | 4166 | 139228 |
| International Seaways, Inc. | 1524 | 111069 |
| New Fortress Energy, Inc. (\*) | 86520 | 51047 |
| Ovintiv, Inc. | 2603 | 154514 |
| Permian Resources Corp., Class A | 6963 | 148451 |
| South Bow Corp. | 3675 | 122451 |
| Sunococorp LLC | 2167 | 133596 |
| Teekay Tankers Ltd., Class A | 1511 | 110787 |
| TORM PLC, Class A | 4007 | 111795 |
| Vermilion Energy, Inc. | 12455 | 171630 |
|  |  | 2119459 |
| **Paper & Forest Products \| 0.2%** |  |  |
| Sylvamo Corp. | 2539 | 107247 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard US Systematic Small Cap Equity ETF (continued)** | **Lazard US Systematic Small Cap Equity ETF (continued)** | **Lazard US Systematic Small Cap Equity ETF (continued)** |
| **Passenger Airlines \| 0.7%** |  |  |
| Copa Holdings SA, Class A | 2825 | $320948 |
| Frontier Group Holdings, Inc. (\*) | 11997 | 42349 |
| SkyWest, Inc. (\*) | 602 | 55282 |
|  |  | 418579 |
| **Personal Care Products \| 0.2%** |  |  |
| Nature's Sunshine Products, Inc. (\*) | 3617 | 86772 |
| **Pharmaceuticals \| 1.2%** |  |  |
| Canopy Growth Corp. (\*) | 99915 | 94839 |
| Esperion Therapeutics, Inc. (\*) | 33741 | 92450 |
| Phibro Animal Health Corp., Class A | 7797 | 431252 |
|  |  | 618541 |
| **Professional Services \| 2.7%** |  |  |
| Barrett Business Services, Inc. | 5227 | 152524 |
| CRA International, Inc. | 633 | 102470 |
| ExlService Holdings, Inc. (\*) | 3013 | 91746 |
| FTI Consulting, Inc. (\*) | 718 | 126921 |
| Genpact Ltd. | 6226 | 231918 |
| IBEX Holdings Ltd. (\*) | 4399 | 117981 |
| Kforce, Inc. | 3486 | 101931 |
| Korn Ferry | 3760 | 236692 |
| Paylocity Holding Corp. (\*) | 1283 | 138615 |
| TIC Solutions, Inc. (\*) | 19249 | 126658 |
| TriNet Group, Inc. | 3278 | 119418 |
|  |  | 1546874 |
| **Real Estate Management & Development \| 0.9%** | **Real Estate Management & Development \| 0.9%** |  |
| Compass, Inc., Class A (\*) | 11892 | 86931 |
| Jones Lang LaSalle, Inc. (\*) | 357 | 108642 |
| Kennedy-Wilson Holdings, Inc. | 11396 | 123305 |
| Seaport Entertainment Group, Inc. (\*) | 3236 | 69509 |
| St. Joe Co. | 1781 | 111847 |
|  |  | 500234 |
| **Residential REITs \| 0.8%** |  |  |
| American Homes 4 Rent, Class A | 3007 | 83955 |
| Camden Property Trust | 980 | 95707 |
| UDR, Inc. | 2805 | 94753 |
| UMH Properties, Inc. | 5551 | 80101 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Shares | Fair<br> Value | Fair<br> Value |
| Veris Residential, Inc. | 6426 | $| 121259 |
|  |  |  | 475775 |
| **Retail REITs \| 0.9%** |  |  |  |
| Brixmor Property Group, Inc. | 3711 |  | 106877 |
| Curbline Properties Corp. | 3700 |  | 95423 |
| Kimco Realty Corp. | 4769 |  | 107159 |
| Kite Realty Group Trust | 3241 |  | 79567 |
| Urban Edge Properties | 4490 |  | 89710 |
|  |  |  | 478736 |
| **Semiconductors & Semiconductor Equipment \| 4.3%** | **Semiconductors & Semiconductor Equipment \| 4.3%** | **Semiconductors & Semiconductor Equipment \| 4.3%** | **Semiconductors & Semiconductor Equipment \| 4.3%** |
| ACM Research, Inc., Class A (\*) | 2285 |  | 89915 |
| Cirrus Logic, Inc. (\*) | 1788 |  | 258581 |
| Credo Technology Group Holding Ltd. (\*) | 946 |  | 88801 |
| Diodes, Inc. (\*) | 4623 |  | 315566 |
| FormFactor, Inc. (\*) | 1288 |  | 124923 |
| Kulicke & Soffa Industries, Inc. | 1634 |  | 107386 |
| Onto Innovation, Inc. (\*) | 2762 |  | 566403 |
| Photronics, Inc. (\*) | 5367 |  | 216880 |
| Power Integrations, Inc. | 2262 |  | 115814 |
| Qorvo, Inc. (\*) | 3818 |  | 295513 |
| Rambus, Inc. (\*) | 958 |  | 82417 |
| Silicon Laboratories, Inc. (\*) | 526 |  | 109487 |
|  |  |  | 2371686 |
| **Software \| 7.0%** |  |  |  |
| ACI Worldwide, Inc. (\*) | 3690 |  | 151327 |
| Adeia, Inc. | 17899 |  | 430113 |
| Agilysys, Inc. (\*) | 363 |  | 25824 |
| Alarm.com Holdings, Inc. (\*) | 4441 |  | 191807 |
| Amplitude, Inc., Class A (\*) | 14397 |  | 98188 |
| Bit Digital, Inc. (\*) | 103271 |  | 135285 |
| Bitdeer Technologies Group, Class A (\*) | 6979 |  | 60368 |
| Cellebrite DI Ltd. (\*) | 8303 |  | 114415 |
| Commvault Systems, Inc. (\*) | 1026 |  | 79915 |
| Consensus Cloud Solutions, Inc. (\*) | 3701 |  | 87862 |
| Descartes Systems Group, Inc. (\*) | 1752 |  | 125373 |
| Docusign, Inc. (\*) | 4111 |  | 194903 |
| Dolby Laboratories, Inc., Class A | 2615 |  | 157057 |
| Dynatrace, Inc. (\*) | 7913 |  | 292623 |
| Elastic NV (\*) | 1539 |  | 76935 |
| Hive Digital Technologies Ltd. (\*) | 24140 |  | 45866 |
| HubSpot, Inc. (\*) | 1176 |  | 287062 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Shares | Fair<br> Value | Fair<br> Value |
| **Lazard US Systematic Small Cap Equity ETF (continued)** | **Lazard US Systematic Small Cap Equity ETF (continued)** | **Lazard US Systematic Small Cap Equity ETF (continued)** | **Lazard US Systematic Small Cap Equity ETF (continued)** |
| Intapp, Inc. (\*) | 4645 | $| 119330 |
| IREN Ltd. (\*) | 2965 |  | 101640 |
| JFrog Ltd. (\*) | 4941 |  | 231881 |
| Karooooo Ltd. | 639 |  | 31848 |
| LiveRamp Holdings, Inc. (\*) | 8988 |  | 238362 |
| Mitek Systems, Inc. (\*) | 20536 |  | 277236 |
| N-Able, Inc. (\*) | 23086 |  | 107812 |
| Open Text Corp. | 3905 |  | 86847 |
| Q2 Holdings, Inc. (\*) | 2616 |  | 123737 |
| Radware Ltd. (\*) | 7146 |  | 188083 |
|  |  |  | 4061699 |
| **Specialized REITs \| 0.8%** |  |  |  |
| EPR Properties | 1614 |  | 80635 |
| Four Corners Property Trust, Inc. | 3685 |  | 87150 |
| Gaming & Leisure Properties, Inc. | 2163 |  | 95972 |
| Millrose Properties, Inc. | 2907 |  | 81396 |
| Outfront Media, Inc. | 3945 |  | 104542 |
|  |  |  | 449695 |
| **Specialty Retail \| 0.9%** |  |  |  |
| Asbury Automotive Group, Inc. (\*) | 635 |  | 124085 |
| AutoNation, Inc. (\*) | 1119 |  | 218496 |
| EVgo, Inc. (\*) | 34547 |  | 59421 |
| Haverty Furniture Cos., Inc. | 4471 |  | 94696 |
|  |  |  | 496698 |
| **Technology Hardware, Storage & Peripherals \| 0.9%** | **Technology Hardware, Storage & Peripherals \| 0.9%** | **Technology Hardware, Storage & Peripherals \| 0.9%** | **Technology Hardware, Storage & Peripherals \| 0.9%** |
| Diebold Nixdorf, Inc. (\*) | 5031 |  | 379539 |
| GPGI, Inc. | 6095 |  | 104224 |
|  |  |  | 483763 |
| **Textiles, Apparel & Luxury Goods \| 0.9%** | **Textiles, Apparel & Luxury Goods \| 0.9%** |  |  |
| Canada Goose Holdings, Inc. (\*) | 8251 |  | 90513 |
| Deckers Outdoor Corp. (\*) | 3697 |  | 370033 |
| Steven Madden Ltd. | 3461 |  | 117397 |
|  |  |  | 577943 |
| **Trading Companies & Distributors \| 1.5%** | **Trading Companies & Distributors \| 1.5%** |  |  |
| Air Lease Corp. | 1742 |  | 113125 |
| Applied Industrial Technologies, Inc. | 484 |  | 128415 |
| DNOW, Inc. (\*) | 16477 |  | 196241 |
| Global Industrial Co. | 2496 |  | 78674 |
| McGrath RentCorp | 2499 |  | 275590 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| MSC Industrial Direct Co., Inc., Class A | 273 | $25190 |
| SiteOne Landscape Supply, Inc. (\*) | 792 | 105423 |
|  |  | 922658 |
| **Wireless Telecommunication Services \| 0.5%** | **Wireless Telecommunication Services \| 0.5%** |  |
| Millicom International Cellular SA | 3709 | 277952 |
| **Total Common Stocks**<br> (Cost $51,176,392) |  | 56346448 |
| **Rights \| 0.0%** |  |  |
| **Biotechnology \| 0.0%** |  |  |
| Epizyme, Inc. CVR, Expires 2499 (\*), (¢) | 41136 | 823 |
| **Consumer Staples Distribution & Retail \| 0.0%** | **Consumer Staples Distribution & Retail \| 0.0%** |  |
| Walgreens Boots Alliance, Inc. CVR, Expires 2499 (\*), (¢) | 15004 | 7952 |
| **Paper & Forest Products \| 0.0%** |  |  |
| Resolute Forest Products, Inc. CVR, Expires 2499 (\*), (¢) | 10077 | 0 |
| **Total Rights**<br> (Cost $23,084) |  | 8775 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair<br> Value |
| **Lazard US Systematic Small Cap Equity ETF (concluded)** | **Lazard US Systematic Small Cap Equity ETF (concluded)** | **Lazard US Systematic Small Cap Equity ETF (concluded)** |
| **Short-Term Investments \| 1.3%** |  |  |
| Lazard Government Money Market Portfolio, 3.50% (7 day yield) (a)<br>(Cost $742,029) | 742029 | $742029 |
| **Total Investments \| 100.2%**<br> (Cost $52,010,515) |  | $**57240106** |
| **Liabilities in Excess of Cash and Other Assets \| (0.2)%** |  | **(121752)** |
| **Net Assets \| 100.0%** |  | $**57118354** |

---

---

| | |
|:---|:---|
| (\*) | Non-income producing security. |
| (¢) | Security in which significant unobservable inputs (Level 3) were used in determining fair value. |
| (#) | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At March 31, 2026, these securities amounted to 0.4% of net assets of the Portfolio. |
| (a) | Affiliated investment. |

---

**Affiliated Investment for the period ended March 31, 2026 were as follows:** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Issuer | Value at<br> December 31,<br> 2025 | Purchase<br> cost | Sales<br> proceeds | Realized<br> gain (loss) | Dividend<br> Income | Shares at<br> March 31, 2026 | Value at<br> March 31, 2026 |
| Lazard Government Money Market Portfolio | $582485 | $2746421 | $(2586877) | $– $– $| 6332 | 742029 | $742029 |

---

**Lazard Active ETF Trust** Notes to Portfolio of Investments

March 31, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Asset Class/Sector | Lazard<br> Emerging<br> Markets<br> Opportunities<br> ETF | Lazard Equity<br> Megatrends <br> ETF | Lazard<br> International<br> Dynamic<br> Equity ETF | Lazard<br> Japanese<br> Equity ETF |
| &nbsp;&nbsp;&nbsp;Communication Services | 6.1% | 6.2% | 5.0% | 5.2% |
| &nbsp;&nbsp;&nbsp;Consumer Discretionary | 11.2 | 6.9 | 7.9 | 11.2 |
| &nbsp;&nbsp;&nbsp;Consumer Staples | 3.3 |  | 5.7 | 5.4 |
| &nbsp;&nbsp;&nbsp;Energy | 5.4 | 1.9 | 6.1 | 2.3 |
| &nbsp;&nbsp;&nbsp;Financials | 20.4 | 16.7 | 23.9 | 20.8 |
| &nbsp;&nbsp;&nbsp;Health Care | 1.2 | 14 | 8.5 | 4.3 |
| &nbsp;&nbsp;&nbsp;Industrials | 12.7 | 19.9 | 14.8 | 26.4 |
| &nbsp;&nbsp;&nbsp;Information Technology | 32.8 | 33 | 15.6 | 11.3 |
| &nbsp;&nbsp;&nbsp;Materials | 4.4 |  | 6.6 | 7.6 |
| &nbsp;&nbsp;&nbsp;Real Estate | 2.7 |  | 1.1 | 2.4 |
| &nbsp;&nbsp;&nbsp;Utilities |  |  | 3.3 | 2.1 |
| &nbsp;&nbsp;&nbsp;Warrants |  |  | 0 |  |
| Other (includes short-term investments) | -0.2 | 1.4 | 1.5 | 1 |
| Total | 100.0% | 100.0% | 100.0% | 100.0% |

---

---

| | | | |
|:---|:---|:---|:---|
| Asset Class/Sector | Lazard Listed<br> Infrastructure<br> ETF | Lazard<br> Next Gen<br> Technologies <br> ETF | Lazard US<br> Systematic<br> Small Cap<br> Equity ETF |
| &nbsp;&nbsp;&nbsp;Closed-End Management |  |  |  |
| &nbsp;&nbsp;&nbsp;Investment Companies | —% | —% | 0.3% |
| &nbsp;&nbsp;&nbsp;Communication Services | 2.8 | 8.1 | 3.4 |
| &nbsp;&nbsp;&nbsp;Consumer Discretionary |  | 6.7 | 9.5 |
| &nbsp;&nbsp;&nbsp;Consumer Staples |  |  | 3.2 |
| &nbsp;&nbsp;&nbsp;Energy |  |  | 5.1 |
| &nbsp;&nbsp;&nbsp;Financials |  | 1.9 | 10.1 |
| &nbsp;&nbsp;&nbsp;Health Care |  | 0.8 | 10.6 |
| &nbsp;&nbsp;&nbsp;Industrials | 37.0 | 9.8 | 25.2 |
| &nbsp;&nbsp;&nbsp;Information Technology |  | 69.9 | 21.8 |
| &nbsp;&nbsp;&nbsp;Materials |  | 0.9 | 3.7 |
| &nbsp;&nbsp;&nbsp;Real Estate | 7.3 |  | 5.2 |
| &nbsp;&nbsp;&nbsp;Utilities | 50.7 |  | 0.8 |
| Other (includes short-term investments) | 2.2 | 1.9 | 1.1 |
| Total | 100.0% | 100.0% | 100.0% |

---

**Security Abbreviations:**

---

| | |
|:---|:---|
| ADR | — American Depositary Receipt |
| CVR | — Contingent Value Rights |
| GDR | — Global Depositary Receipt |
| NVDR | — Non-Voting Depository Receipt |
| PJSC | — Public Joint Stock Company |
| QPSC | — Qatar Public Shareholder Company |
| REITs | — Real Estate Investment Trust |

---

**Currency Abbreviations:**

---

| | |
|:---|:---|
| AUD | — Australian Dollar |
| CAD | — Canadian Dollar |
| EUR | — Euro |
| GBP | — British Pound Sterling |
| USD | — United States Dollar |

---

**Counterparty Abbreviations:**

MSC — Morgan Stanley & Co. <br> RBC — Royal Bank of Canada <br> SSB — State Street Bank & Trust Co.

Various inputs are used in determining the fair value of investments and derivative financial instruments. For information about the Fund's policy regarding valuation of investments and derivative financial instruments, refer to notes to the financial statements.

**Item 2. Controls and Procedures.**

(a) The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes to the Registrant's internal control over financial reporting that occurred during the Registrant's most recent fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Lazard Active ETF Trust

---

| | |
|:---|:---|
| By: | /s/ Jennifer Ryan |
|  | Jennifer Ryan |
|  | Principal Executive Officer |

---

Date: May 27, 2026

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By: | /s/ Jennifer Ryan |
|  | Jennifer Ryan |
|  | Principal Executive Officer |

---

Date: May 27, 2026

---

| | |
|:---|:---|
| By: | /s/ Christina Kennedy |
|  | Christina Kennedy |
|  | Principal Financial Officer |

---

Date: May 27, 2026

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Lazard Active ETF Trust

- **b. Investment Company Act file number:** 811-24041

- **c. CIK number of Registrant:** 0002051630

- **d. LEI of Registrant:** 254900CR1PMVJV76SB71

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

  - **Street Address 1:** 30 ROCKEFELLER PLAZA

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10112

  - **Telephone number:** 212-632-6000

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

- **a. Name of Series:** Lazard International Dynamic Equity ETF

- **b. EDGAR series identifier (if any):** S000091514

- **c. LEI of Series:** 529900OKX1482ZKW6I30

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $959677769.83

**Total Liabilities:** $335615.07

**Net Assets:** $959342154.76

**Cash Not Reported:** $227613.34

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000259182 | 8.30%                | 6.48%                | -11.76%              |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3784043.37              | $40116557.74                               |
| Month 2  | $12694883.20             | $36690896.39                               |
| Month 3  | $238960.19               | $-117770269.80                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Agnico Eagle Mines Ltd                                    | Agnico Eagle Mines Ltd                                    | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |     39834 | NS      | $8059852.09   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd                                 | Alibaba Group Holding Ltd                                 | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |     16121 | NS      | $2022540.66   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Aritzia Inc                                               | Aritzia Inc                                               | CUSIP: 04045U102<br>LEI: 549300U83HKFRL1EX527 | Long             | EC               | CORP              | CA        |     49222 | NS      | $4003927.80   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Chartered PLC                                    | Standard Chartered PLC                                    | CUSIP: 000000000<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | EC               | CORP              | GB        |    373031 | NS      | $7649289.35   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Imperial Brands PLC                                       | Imperial Brands PLC                                       | CUSIP: 000000000<br>LEI: 549300DFVPOB67JL3A42 | Long             | EC               | CORP              | GB        |    298473 | NS      | $12032233.77  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC Holdings PLC                                         | HSBC Holdings PLC                                         | CUSIP: 000000000<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EC               | CORP              | GB        |    427138 | NS      | $6880864.50   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| BRP Inc                                                   | BRP Inc                                                   | CUSIP: 05577W200<br>LEI: 529900EPQGESIRCPY551 | Long             | EC               | CORP              | CA        |     17721 | NS      | $1269821.93   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Legal & General Group PLC                                 | Legal & General Group PLC                                 | CUSIP: 000000000<br>LEI: 213800JH9QQWHLO99821 | Long             | EC               | CORP              | GB        |   1704479 | NS      | $5536073.39   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Badger Infrastructure Solutions Ltd                       | Badger Infrastructure Solutions Ltd                       | CUSIP: 056533102<br>LEI: 254900BS2WTIBXVDKM03 | Long             | EC               | CORP              | CA        |     20877 | NS      | $928099.37    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Mining Corp                                       | Barrick Mining Corp                                       | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |    239732 | NS      | $9765873.10   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential PLC                                            | Prudential PLC                                            | CUSIP: 000000000<br>LEI: 5493001Z3ZE83NGK8Y12 | Long             | EC               | CORP              | GB        |    753492 | NS      | $10313872.80  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION SOFTWARE INC                                | CONSTELLATION SOFTWARE INC                                | CUSIP: 000000000<br>LEI: 549300B6PYHMCTDWQV29 | N/A              | DE               |  | CA        |        26 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Latam Airlines Group SA                                   | Latam Airlines Group SA                                   | CUSIP: 000000000<br>LEI: 549300HX3UUDPEFTG707 | Long             | EC               | CORP              | CL        |  47337051 | NS      | $1156417.02   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| DingDong Cayman Ltd                                       | DingDong Cayman Ltd                                       | CUSIP: 25445D101<br>LEI: 549300S41MY2F7SBDG73 | Long             | EC               | CORP              | KY        |      4780 | NS      | $12284.60     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollarama Inc                                             | Dollarama Inc                                             | CUSIP: 25675T107<br>LEI: 5493002GJ0NJP1HI0C79 | Long             | EC               | CORP              | CA        |     33391 | NS      | $4085016.97   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro SA - Petrobras                        | Petroleo Brasileiro SA - Petrobras                        | CUSIP: 000000000<br>LEI: 5493000J801JZRCMFE49 | Long             | EP               | CORP              | BR        |   1601734 | NS      | $14928598.28  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonaktiebolaget LM Ericsson                           | Telefonaktiebolaget LM Ericsson                           | CUSIP: 294821608<br>LEI: 549300W9JLPW15XIFM52 | Long             | EC               | CORP              | SE        |    376567 | NS      | $4243910.09   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Fairfax Financial Holdings Ltd                            | Fairfax Financial Holdings Ltd                            | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |      2644 | NS      | $4490792.93   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays PLC                                              | Barclays PLC                                              | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EC               | CORP              | GB        |    629335 | NS      | $3232059.64   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Gold Fields Ltd                                           | Gold Fields Ltd                                           | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |    102878 | NS      | $4670661.20   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Groupe Dynamite Inc                                       | Groupe Dynamite Inc                                       | CUSIP: 39944C100<br>LEI: 894500PR7X62F01X8R60 | Long             | EC               | CORP              | CA        |     38934 | NS      | $2136759.74   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                                                 | Airbus SE                                                 | CUSIP: 000000000<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | NL        |     31663 | NS      | $5867051.88   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Intesa Sanpaolo SpA                                       | Intesa Sanpaolo SpA                                       | CUSIP: 000000000<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | EC               | CORP              | IT        |    190106 | NS      | $1130465.97   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmony Gold Mining Co Ltd                                | Harmony Gold Mining Co Ltd                                | CUSIP: 413216300<br>LEI: 378900986D05F0C29811 | Long             | EC               | CORP              | ZA        |    163763 | NS      | $2517037.31   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Thales SA                                                 | Thales SA                                                 | CUSIP: 000000000<br>LEI: 529900FNDVTQJOVVPZ19 | Long             | EC               | CORP              | FR        |      4300 | NS      | $1249019.19   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| H World Group Ltd                                         | H World Group Ltd                                         | CUSIP: 44332N106<br>LEI: 549300Y5ML31FVN83730 | Long             | EC               | CORP              | KY        |     24182 | NS      | $1216112.78   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Hydro One Ltd                                             | Hydro One Ltd                                             | CUSIP: 448811208<br>LEI: 5493007QZDXTP1W2VL44 | Long             | EC               | CORP              | CA        |     83694 | NS      | $3445394.50   | 0.36%             |  |  |  | Yes           |                  1 | On Loan: No      |
| iA Financial Corp Inc                                     | iA Financial Corp Inc                                     | CUSIP: 45075E104<br>LEI: 549300ZXLJVHQAIXV215 | Long             | EC               | CORP              | CA        |       180 | NS      | $19912.15     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinross Gold Corp                                         | Kinross Gold Corp                                         | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |    166223 | NS      | $5065719.03   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Heijmans N.V                                  | Koninklijke Heijmans N.V                                  | CUSIP: 000000000<br>LEI: 724500OUE3PCA809DZ79 | Long             | EC               | CORP              | NL        |     15003 | NS      | $1324142.39   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| State Bank of India                                       | State Bank of India                                       | CUSIP: 856552203<br>LEI: 5493001JZ37UBBZF6L49 | Long             | EC               | CORP              | IN        |     54025 | NS      | $5715845.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| ASM International NV                                      | ASM International NV                                      | CUSIP: 000000000<br>LEI: 7245001I22ND6ZFHX623 | Long             | EC               | CORP              | NL        |     13836 | NS      | $10154950.14  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | CUSIP: 000000000<br>LEI: 529900MUF4C20K50JS49 | Long             | EC               | CORP              | DE        |      1753 | NS      | $1089483.53   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Rheinmetall AG                                            | Rheinmetall AG                                            | CUSIP: 000000000<br>LEI: 5299001OU9CSE29O6S05 | Long             | EC               | CORP              | DE        |       722 | NS      | $1201662.62   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Loblaw Cos Ltd                                            | Loblaw Cos Ltd                                            | CUSIP: 539481101<br>LEI: 5493008LN3O1DIDTSH67 | Long             | EC               | CORP              | CA        |    223042 | NS      | $10136020.67  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Volkswagen AG                                             | Volkswagen AG                                             | CUSIP: 000000000<br>LEI: 529900NNUPAGGOMPXZ31 | Long             | EP               | CORP              | DE        |     52651 | NS      | $5241410.52   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                        | Banco Bilbao Vizcaya Argentaria SA                        | CUSIP: 000000000<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |    253374 | NS      | $5327859.04   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercedes-Benz Group AG                                    | Mercedes-Benz Group AG                                    | CUSIP: 000000000<br>LEI: 529900R27DL06UVNT076 | Long             | EC               | CORP              | DE        |     61479 | NS      | $3711102.95   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Acciona SA                                                | Acciona SA                                                | CUSIP: 000000000<br>LEI: 54930002KP75TLLLNO21 | Long             | EC               | CORP              | ES        |         6 | NS      | $1540.26      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Magna International Inc                                   | Magna International Inc                                   | CUSIP: 559222401<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | EC               | CORP              | CA        |    214386 | NS      | $11934827.37  | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Manulife Financial Corp                                   | Manulife Financial Corp                                   | CUSIP: 56501R106<br>LEI: 5493007GBX87QOZACS27 | Long             | EC               | CORP              | CA        |     54566 | NS      | $1873671.83   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                                                 | Sanofi SA                                                 | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |     42857 | NS      | $4084699.41   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander SA                                        | Banco Santander SA                                        | CUSIP: 000000000<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EC               | CORP              | ES        |   1312752 | NS      | $14354124.56  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Bank AG                                          | Deutsche Bank AG                                          | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | EC               | CORP              | DE        |    222076 | NS      | $6426324.01   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Buzzi SpA                                                 | Buzzi SpA                                                 | CUSIP: 000000000<br>LEI: 5299003DX5YLKSVJ6K59 | Long             | EC               | CORP              | IT        |     19393 | NS      | $962605.86    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Societe Generale SA                                       | Societe Generale SA                                       | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | EC               | CORP              | FR        |    116535 | NS      | $8292614.51   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Accton Technology Corp                                    | Accton Technology Corp                                    | CUSIP: 000000000<br>LEI: 529900M1YRZ0GWMDF920 | Long             | EC               | CORP              | TW        |     88000 | NS      | $4156396.62   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkane Resources Ltd                                      | Alkane Resources Ltd                                      | CUSIP: 000000000<br>LEI: 529900R65IIVLPW4ZS42 | Long             | EC               | CORP              | AU        |     15342 | NS      | $14920.99     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Technologies Engineering Ltd                    | Singapore Technologies Engineering Ltd                    | CUSIP: 000000000<br>LEI: 254900OEXGGWCR24DG90 | Long             | EC               | CORP              | SG        |    297700 | NS      | $2494389.80   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Workman Co Ltd                                            | Workman Co Ltd                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     57500 | NS      | $2255327.17   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Westpac Banking Corp                                      | Westpac Banking Corp                                      | CUSIP: 000000000<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | EC               | CORP              | AU        |     91235 | NS      | $2466356.30   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| LY Corp                                                   | LY Corp                                                   | CUSIP: 000000000<br>LEI: 52990078MD2OL792YM35 | Long             | EC               | CORP              | JP        |    407400 | NS      | $980023.76    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortescue Ltd                                             | Fortescue Ltd                                             | CUSIP: 000000000<br>LEI: 529900VEJFORCO6I4826 | Long             | EC               | CORP              | AU        |    106210 | NS      | $1477415.15   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Beach Energy Ltd                                          | Beach Energy Ltd                                          | CUSIP: 000000000<br>LEI: 8Q9PJD25OKTQT5FHUF40 | Long             | EC               | CORP              | AU        |   2506536 | NS      | $2223161.07   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of India                                             | Bank of India                                             | CUSIP: 000000000<br>LEI: 21380058KMSRJIL8C294 | Long             | EC               | CORP              | IN        |    742663 | NS      | $1072627.78   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| United Integrated Services Co Ltd                         | United Integrated Services Co Ltd                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     63000 | NS      | $1617860.49   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgestone Corp                                          | Bridgestone Corp                                          | CUSIP: 000000000<br>LEI: 549300DHPOF90OYYD780 | Long             | EC               | CORP              | JP        |     55900 | NS      | $1147937.02   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Vedanta Ltd                                               | Vedanta Ltd                                               | CUSIP: 000000000<br>LEI: 335800XDKX9KB5EMCO07 | Long             | EC               | CORP              | IN        |    291593 | NS      | $2013048.10   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Austal Ltd                                                | Austal Ltd                                                | CUSIP: 000000000<br>LEI: 254900DJEFGICBICBU73 | Long             | EC               | CORP              | AU        |      1698 | NS      | $5547.32      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP Group Ltd                                             | BHP Group Ltd                                             | CUSIP: 000000000<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |     35296 | NS      | $1218139.61   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Canon Inc                                                 | Canon Inc                                                 | CUSIP: 000000000<br>LEI: 529900JH1GSC035SSP77 | Long             | EC               | CORP              | JP        |    288100 | NS      | $7890198.63   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Chugai Pharmaceutical Co Ltd                              | Chugai Pharmaceutical Co Ltd                              | CUSIP: 000000000<br>LEI: 529900T9LAII161DCN95 | Long             | EC               | CORP              | JP        |     35500 | NS      | $1921494.12   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| REA Group Ltd                                             | REA Group Ltd                                             | CUSIP: 000000000<br>LEI: 894500KA4UBDATOFPN36 | Long             | EC               | CORP              | AU        |     21860 | NS      | $2341907.05   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Delek Group Ltd                                           | Delek Group Ltd                                           | CUSIP: 000000000<br>LEI: 213800CYKA4XE2HZZB09 | Long             | EC               | CORP              | IL        |      3276 | NS      | $1098951.45   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| PetroChina Co Ltd                                         | PetroChina Co Ltd                                         | CUSIP: 000000000<br>LEI: 529900RPY4YG47TRSV05 | Long             | EC               | CORP              | CN        |   5222000 | NS      | $7160085.20   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa House Industry Co Ltd                               | Daiwa House Industry Co Ltd                               | CUSIP: 000000000<br>LEI: 353800K9WXR9XRZJZI46 | Long             | EC               | CORP              | JP        |     76100 | NS      | $2352503.61   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Electronics Inc                                     | Delta Electronics Inc                                     | CUSIP: 000000000<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |    115000 | NS      | $4964028.78   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Regis Healthcare Ltd                                      | Regis Healthcare Ltd                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    484452 | NS      | $2043895.47   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Fast Retailing Co Ltd                                     | Fast Retailing Co Ltd                                     | CUSIP: 000000000<br>LEI: 353800ZCXKHDPY0N5218 | Long             | EC               | CORP              | JP        |     11800 | NS      | $4571211.26   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| South Indian Bank Ltd/The                                 | South Indian Bank Ltd/The                                 | CUSIP: 000000000<br>LEI: 3358003CCMTPZUJOKC45 | Long             | EC               | CORP              | IN        |   8482052 | NS      | $3060196.57   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| TMBThanachart Bank PCL                                    | TMBThanachart Bank PCL                                    | CUSIP: 000000000<br>LEI: 549300WKGLXEV3DB7I54 | Long             | EC               | CORP              | TH        |  15106400 | NS      | $1053508.79   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| MediaTek Inc                                              | MediaTek Inc                                              | CUSIP: 000000000<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |    114000 | NS      | $5313106.04   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Force Motors Ltd                                          | Force Motors Ltd                                          | CUSIP: 000000000<br>LEI: 33580016Z4KICZI73L36 | Long             | EC               | CORP              | IN        |      5172 | NS      | $1058133.71   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Info Service PCL                                 | Advanced Info Service PCL                                 | CUSIP: 000000000<br>LEI: 529900DU2YW1NO5RMU78 | Long             | EC               | CORP              | TH        |    186300 | NS      | $2107031.53   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Harbin Electric Co Ltd                                    | Harbin Electric Co Ltd                                    | CUSIP: 000000000<br>LEI: 529900QH6Y4U07RU0U61 | Long             | EC               | CORP              | CN        |    398000 | NS      | $1055891.43   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Hitachi Ltd                                               | Hitachi Ltd                                               | CUSIP: 000000000<br>LEI: 549300T6IPOCDWLKC615 | Long             | EC               | CORP              | JP        |    202800 | NS      | $5690484.63   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Honda Motor Co Ltd                                        | Honda Motor Co Ltd                                        | CUSIP: 000000000<br>LEI: 549300P7ZYCQJ36CCS16 | Long             | EC               | CORP              | JP        |    426100 | NS      | $3368035.39   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| HD Korea Shipbuilding & Offshore Engineering Co Ltd       | HD Korea Shipbuilding & Offshore Engineering Co Ltd       | CUSIP: 000000000<br>LEI: 988400DPTJ9KH5R6W540 | Long             | EC               | CORP              | KR        |      6681 | NS      | $1500515.13   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SK hynix Inc                                              | SK hynix Inc                                              | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |     17148 | NS      | $9034985.80   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| International Container Terminal Services Inc             | International Container Terminal Services Inc             | CUSIP: 000000000<br>LEI: 254900FU1MWK0I0Q4J61 | Long             | EC               | CORP              | PH        |    516890 | NS      | $5853832.43   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Tobacco Inc                                         | Japan Tobacco Inc                                         | CUSIP: 000000000<br>LEI: 353800Z0ENYBQO0XRJ31 | Long             | EC               | CORP              | JP        |    242400 | NS      | $9172468.41   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Regis Resources Ltd                                       | Regis Resources Ltd                                       | CUSIP: 000000000<br>LEI: 213800XH9YUXBLYBD749 | Long             | EC               | CORP              | AU        |    250818 | NS      | $1142372.03   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Korea Electric Power Corp                                 | Korea Electric Power Corp                                 | CUSIP: 000000000<br>LEI: 988400QG33WS7JEIV602 | Long             | EC               | CORP              | KR        |    248385 | NS      | $6754307.61   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyocera Corp                                              | Kyocera Corp                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       600 | NS      | $8968.51      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyushu Electric Power Co Inc                              | Kyushu Electric Power Co Inc                              | CUSIP: 000000000<br>LEI: 549300BYNZPLKQVQH430 | Long             | EC               | CORP              | JP        |    252800 | NS      | $2872980.07   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| BOC Hong Kong Holdings Ltd                                | BOC Hong Kong Holdings Ltd                                | CUSIP: 000000000<br>LEI: 254900JB98W77JDJMW15 | Long             | EC               | CORP              | HK        |   1786000 | NS      | $9749853.32   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Asia Vital Components Co Ltd                              | Asia Vital Components Co Ltd                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     32000 | NS      | $1991867.38   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Macmahon Holdings Ltd                                     | Macmahon Holdings Ltd                                     | CUSIP: 000000000<br>LEI: 52990031UMN8E6ARZC86 | Long             | EC               | CORP              | AU        |   2654072 | NS      | $1299708.49   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Financial Group Inc                       | Sumitomo Mitsui Financial Group Inc                       | CUSIP: 000000000<br>LEI: 35380028MYWPB6AUO129 | Long             | EC               | CORP              | JP        |    166400 | NS      | $5236019.86   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| MPI Corp                                                  | MPI Corp                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     10000 | NS      | $1124491.71   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Bank of India Ltd                                   | Union Bank of India Ltd                                   | CUSIP: 000000000<br>LEI: 5493000P4HD6132SQ711 | Long             | EC               | CORP              | IN        |   2438121 | NS      | $4220819.65   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Mizuho Financial Group Inc                                | Mizuho Financial Group Inc                                | CUSIP: 000000000<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | EC               | CORP              | JP        |     30400 | NS      | $1163145.39   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Electric Corp                                  | Mitsubishi Electric Corp                                  | CUSIP: 000000000<br>LEI: 549300TRXM9Y6561AX39 | Long             | EC               | CORP              | JP        |    308975 | NS      | $9687392.67   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsui Fudosan Co Ltd                                     | Mitsui Fudosan Co Ltd                                     | CUSIP: 000000000<br>LEI: 353800ND4ZKNZDYKMF33 | Long             | EC               | CORP              | JP        |    185800 | NS      | $1933445.85   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Leopalace21 Corp                                          | Leopalace21 Corp                                          | CUSIP: 000000000<br>LEI: 529900Z3BHJUW1DY6254 | Long             | EC               | CORP              | JP        |    257000 | NS      | $1025803.00   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Denso Corp                                                | Denso Corp                                                | CUSIP: 000000000<br>LEI: 549300RYPA10CQM3QK38 | Long             | EC               | CORP              | JP        |      1800 | NS      | $22034.70     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NTT Inc                                                   | NTT Inc                                                   | CUSIP: 000000000<br>LEI: 353800VHQU5VIXVUA841 | Long             | EC               | CORP              | JP        |   5605700 | NS      | $5539103.90   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Nissan Chemical Corp                                      | Nissan Chemical Corp                                      | CUSIP: 000000000<br>LEI: 3538002E4L1CUGJFFU25 | Long             | EC               | CORP              | JP        |      2200 | NS      | $82902.76     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Press Metal Aluminium Holdings Bhd                        | Press Metal Aluminium Holdings Bhd                        | CUSIP: 000000000<br>LEI: 254900RO5GQ4M0YV5S47 | Long             | EC               | CORP              | MY        |   1653100 | NS      | $3266189.18   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Qantas Airways Ltd                                        | Qantas Airways Ltd                                        | CUSIP: 000000000<br>LEI: YLXNW6TI6QSK1H8H0N82 | Long             | EC               | CORP              | AU        |    679865 | NS      | $3897403.37   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| QBE Insurance Group Ltd                                   | QBE Insurance Group Ltd                                   | CUSIP: 000000000<br>LEI: 549300D2FBW76FPUSG65 | Long             | EC               | CORP              | AU        |     83044 | NS      | $1207495.35   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Star Resources Ltd                               | Northern Star Resources Ltd                               | CUSIP: 000000000<br>LEI: 254900XFXCRYYZAX6M78 | Long             | EC               | CORP              | AU        |       538 | NS      | $7502.18      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Perusahaan Gas Negara Persero Tbk PT                      | Perusahaan Gas Negara Persero Tbk PT                      | CUSIP: 000000000<br>LEI: 549300OX1VFDX7ZPN240 | Long             | EC               | CORP              | ID        |   9480600 | NS      | $1029256.94   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Zijin Mining Group Co Ltd                                 | Zijin Mining Group Co Ltd                                 | CUSIP: 000000000<br>LEI: 836800JRNL2393Z2I561 | Long             | EC               | CORP              | CN        |   1134000 | NS      | $4969801.79   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| T&D Holdings Inc                                          | T&D Holdings Inc                                          | CUSIP: 000000000<br>LEI: 3538008ARJ1MACEWA242 | Long             | EC               | CORP              | JP        |    123900 | NS      | $3080950.41   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd                                | Samsung Electronics Co Ltd                                | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |    156504 | NS      | $17084496.33  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanki Engineering Co Ltd                                  | Sanki Engineering Co Ltd                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     35700 | NS      | $1505732.60   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp                                           | Sony Group Corp                                           | CUSIP: 000000000<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |    305200 | NS      | $6156180.78   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Chemical Co Ltd                                  | Sumitomo Chemical Co Ltd                                  | CUSIP: 000000000<br>LEI: 353800RSAU9BD8U4DM91 | Long             | EC               | CORP              | JP        |    730500 | NS      | $2293574.39   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Advantest Corp                                            | Advantest Corp                                            | CUSIP: 000000000<br>LEI: 353800EMK32PDKS9XR54 | Long             | EC               | CORP              | JP        |     18200 | NS      | $2325765.29   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd                 | Taiwan Semiconductor Manufacturing Co Ltd                 | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    692000 | NS      | $38095714.73  | 3.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyo Electron Ltd                                        | Tokyo Electron Ltd                                        | CUSIP: 000000000<br>LEI: 549300H5LSF8DP3RIJ34 | Long             | EC               | CORP              | JP        |     17100 | NS      | $4001716.01   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyota Motor Corp                                         | Toyota Motor Corp                                         | CUSIP: 000000000<br>LEI: 5493006W3QUS5LMH6R84 | Long             | EC               | CORP              | JP        |     77700 | NS      | $1544329.62   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| United Overseas Bank Ltd                                  | United Overseas Bank Ltd                                  | CUSIP: 000000000<br>LEI: IO66REGK3RCBAMA8HR66 | Long             | EC               | CORP              | SG        |    101700 | NS      | $2889047.79   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| UOL Group Ltd                                             | UOL Group Ltd                                             | CUSIP: 000000000<br>LEI: 254900O9PRCWTMR86R25 | Long             | EC               | CORP              | SG        |    171600 | NS      | $1292835.72   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| AXA SA                                                    | AXA SA                                                    | CUSIP: 000000000<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |     71916 | NS      | $3251489.32   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                               | Novartis AG                                               | CUSIP: 000000000<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |    140191 | NS      | $21085787.14  | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ABB Ltd                                                   | ABB Ltd                                                   | CUSIP: 000000000<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |     92503 | NS      | $7280056.90   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| PDD Holdings Inc                                          | PDD Holdings Inc                                          | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | KY        |     24817 | NS      | $2535801.06   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                                            | BNP Paribas SA                                            | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |    185645 | NS      | $17323772.24  | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| OTP Bank Nyrt                                             | OTP Bank Nyrt                                             | CUSIP: 000000000<br>LEI: 529900W3MOO00A18X956 | Long             | EC               | CORP              | HU        |      9389 | NS      | $992228.35    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Telecom Italia SpA/Milano                                 | Telecom Italia SpA/Milano                                 | CUSIP: 000000000<br>LEI: 549300W384M3RI3VXU42 | Long             | EC               | CORP              | IT        |   3533687 | NS      | $2439650.94   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Bank of Canada                                      | Royal Bank of Canada                                      | CUSIP: 780087102<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EC               | CORP              | CA        |     22956 | NS      | $3699147.49   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Sea Ltd                                                   | Sea Ltd                                                   | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |        96 | NS      | $7949.76      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Shopify Inc                                               | Shopify Inc                                               | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |     23104 | NS      | $2732647.52   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy Inc                                         | Suncor Energy Inc                                         | CUSIP: 867224107<br>LEI: 894500XO86FKXQGPYV71 | Long             | EC               | CORP              | CA        |     89331 | NS      | $5889681.71   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Toronto-Dominion Bank/The                                 | Toronto-Dominion Bank/The                                 | CUSIP: 891160509<br>LEI: PT3QB789TSUIDF371261 | Long             | EC               | CORP              | CA        |     58221 | NS      | $5420137.09   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunway Construction Group Bhd                             | Sunway Construction Group Bhd                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |    751900 | NS      | $1182910.10   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| LAZARD GOVT MNY MMKT INS                                  | LAZARD GOVT MNY MMKT INS                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  11964154 | NS      | $11964153.87  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolution Mining Ltd                                      | Evolution Mining Ltd                                      | CUSIP: 000000000<br>LEI: 254900BCFW5QO5LW8F27 | Long             | EC               | CORP              | AU        |    261333 | NS      | $2258815.84   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                                           | ASML Holding NV                                           | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |     18246 | NS      | $23528984.39  | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Commerzbank AG                                            | Commerzbank AG                                            | CUSIP: 000000000<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | EC               | CORP              | DE        |     78918 | NS      | $2799713.36   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Vodafone Group PLC                                        | Vodafone Group PLC                                        | CUSIP: 000000000<br>LEI: 213800TB53ELEUKM7Q61 | Long             | EC               | CORP              | GB        |   2879672 | NS      | $4302478.47   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaztransport Et Technigaz SA                              | Gaztransport Et Technigaz SA                              | CUSIP: 000000000<br>LEI: 969500BVOHVZUUFWDT54 | Long             | EC               | CORP              | FR        |     13022 | NS      | $3048801.88   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                              | UBS Group AG                                              | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EC               | CORP              | CH        |     67622 | NS      | $2586054.46   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferrari NV                                                | Ferrari NV                                                | CUSIP: 000000000<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | NL        |      4960 | NS      | $1651609.34   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| ENN Natural Gas Co Ltd                                    | ENN Natural Gas Co Ltd                                    | CUSIP: 000000000<br>LEI: 300300KVDMGNQNP52Z98 | Long             | EC               | CORP              | CN        |    887060 | NS      | $2848063.29   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Bravura Solutions Ltd                                     | Bravura Solutions Ltd                                     | CUSIP: 000000000<br>LEI: 529900RBSF446W3SB455 | Long             | EC               | CORP              | AU        |   1334282 | NS      | $1864253.68   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| HD Hyundai Electric Co Ltd                                | HD Hyundai Electric Co Ltd                                | CUSIP: 000000000<br>LEI: 988400CSDKM9UHLHGB91 | Long             | EC               | CORP              | KR        |      1935 | NS      | $1051101.75   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| HD Hyundai Co Ltd                                         | HD Hyundai Co Ltd                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     23595 | NS      | $3681784.35   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Rubis SCA                                                 | Rubis SCA                                                 | CUSIP: 000000000<br>LEI: 969500MGFIKUGLTC9742 | Long             | EC               | CORP              | FR        |       282 | NS      | $11196.76     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ASE Technology Holding Co Ltd                             | ASE Technology Holding Co Ltd                             | CUSIP: 000000000<br>LEI: 300300GO8QHPMV87NZ73 | Long             | EC               | CORP              | TW        |    187000 | NS      | $1921473.26   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Titan SA                                                  | Titan SA                                                  | CUSIP: 000000000<br>LEI: 213800H2CDP9I374WH83 | Long             | EC               | CORP              | BE        |       812 | NS      | $42101.38     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens Energy AG                                         | Siemens Energy AG                                         | CUSIP: 000000000<br>LEI: 5299005CHJZ14D4FDJ62 | Long             | EC               | CORP              | DE        |     37096 | NS      | $6080050.24   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Friedrich Vorwerk Group SE                                | Friedrich Vorwerk Group SE                                | CUSIP: 000000000<br>LEI: 529900NBM89YAM5ENI18 | Long             | EC               | CORP              | DE        |     16115 | NS      | $1299739.03   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| HD Hyundai Heavy Industries Co Ltd                        | HD Hyundai Heavy Industries Co Ltd                        | CUSIP: 000000000<br>LEI: 988400CAR8W9URQLGF30 | Long             | EC               | CORP              | KR        |      5385 | NS      | $1634854.57   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Dubai Electricity & Water Authority PJSC                  | Dubai Electricity & Water Authority PJSC                  | CUSIP: 000000000<br>LEI: 213800K4OJF8DKATLT41 | Long             | EC               | CORP              | AE        |   5795826 | NS      | $4244350.30   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Banca Monte dei Paschi di Siena SpA                       | Banca Monte dei Paschi di Siena SpA                       | CUSIP: 000000000<br>LEI: J4CP7MHCXR8DAQMKIL78 | Long             | EC               | CORP              | IT        |      1148 | NS      | $9823.89      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| TUI AG                                                    | TUI AG                                                    | CUSIP: 000000000<br>LEI: 529900SL2WSPV293B552 | Long             | EC               | CORP              | DE        |    189857 | NS      | $1446396.18   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Adnoc Gas PLC                                             | Adnoc Gas PLC                                             | CUSIP: 000000000<br>LEI: 254900O5NS03BDOOM362 | Long             | EC               | CORP              | AE        |   1136198 | NS      | $989800.34    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Boliden AB                                                | Boliden AB                                                | CUSIP: 000000000<br>LEI: 21380059QU7IM1ONDJ56 | Long             | EC               | CORP              | SE        |    122455 | NS      | $6243421.44   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Canara Bank                                               | Canara Bank                                               | CUSIP: 000000000<br>LEI: 335800E4RH82Z8XC3C30 | Long             | EC               | CORP              | IN        |   2819656 | NS      | $3669911.66   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| 99 Speed Mart Retail Holdings Bhd                         | 99 Speed Mart Retail Holdings Bhd                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |   1689200 | NS      | $1422615.95   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Midea Group Co Ltd                                        | Midea Group Co Ltd                                        | CUSIP: 000000000<br>LEI: 3003003TRPHLHZD2IF61 | Long             | EC               | CORP              | CN        |    124700 | NS      | $1332856.30   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Contemporary Amperex Technology Co Ltd                    | Contemporary Amperex Technology Co Ltd                    | CUSIP: 000000000<br>LEI: 300300KINDY1K0E9I032 | Long             | EC               | CORP              | CN        |     36600 | NS      | $2863970.31   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Virgin Australia Holdings Ltd                             | Virgin Australia Holdings Ltd                             | CUSIP: 000000000<br>LEI: 254900SNPW6V9967CJ18 | Long             | EC               | CORP              | AU        |    546880 | NS      | $898939.57    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                                          | Roche Holding AG                                          | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |     42871 | NS      | $16789874.56  | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| TELECOM ITALIA                                            | TELECOM ITALIA                                            | CUSIP: 000000000<br>LEI: 549300W384M3RI3VXU42 | N/A              | DE               |  | IT        |   2913553 | NS      | $26.86        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Proximus SADP                                             | Proximus SADP                                             | CUSIP: 000000000<br>LEI: 549300CWRXC5EP004533 | Long             | EC               | CORP              | BE        |    173669 | NS      | $1400709.76   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Sino Biopharmaceutical Ltd                                | Sino Biopharmaceutical Ltd                                | CUSIP: 000000000<br>LEI: 529900LPR4ADFEJAR786 | Long             | EC               | CORP              | KY        |     10000 | NS      | $7512.56      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Ping An Insurance Group Co of China Ltd                   | Ping An Insurance Group Co of China Ltd                   | CUSIP: 000000000<br>LEI: 529900M9MC28JLN35U89 | Long             | EC               | CORP              | CN        |    679500 | NS      | $5152454.66   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Perseus Mining Ltd                                        | Perseus Mining Ltd                                        | CUSIP: 000000000<br>LEI: 54930054ZDGKBCW3SM26 | Long             | EC               | CORP              | AU        |    722481 | NS      | $2548360.55   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Ral Yatirim Holding AS                                    | Ral Yatirim Holding AS                                    | CUSIP: 000000000<br>LEI: 7890000ABDRM27CZ0H22 | Long             | EC               | CORP              | TR        |    362461 | NS      | $1642808.85   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                                                 | Safran SA                                                 | CUSIP: 000000000<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |      3039 | NS      | $978328.96    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| MTU Aero Engines AG                                       | MTU Aero Engines AG                                       | CUSIP: 000000000<br>LEI: 529900807L67JY81RD65 | Long             | EC               | CORP              | DE        |        24 | NS      | $8572.37      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| KDX Realty Investment Corp                                | KDX Realty Investment Corp                                | CUSIP: 000000000<br>LEI: 353800FFT483NCIHFY42 | Long             | EC               |  | JP        |      3801 | NS      | $3837077.13   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Heineken Holding NV                                       | Heineken Holding NV                                       | CUSIP: 000000000<br>LEI: 724500M1WJLFM9TYBS04 | Long             | EC               | CORP              | NL        |     16832 | NS      | $1189811.33   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Leonardo SpA                                              | Leonardo SpA                                              | CUSIP: 000000000<br>LEI: 529900X4EEX1U9LN3U39 | Long             | EC               | CORP              | IT        |    102887 | NS      | $6880432.17   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Oversea-Chinese Banking Corp Ltd                          | Oversea-Chinese Banking Corp Ltd                          | CUSIP: 000000000<br>LEI: 5493007O3QFXCPOGWK22 | Long             | EC               | CORP              | SG        |    120300 | NS      | $2048592.02   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Bandai Namco Holdings Inc                                 | Bandai Namco Holdings Inc                                 | CUSIP: 000000000<br>LEI: 3538008EFEM34VRJDQ95 | Long             | EC               | CORP              | JP        |    201900 | NS      | $4907582.50   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Aldar Properties PJSC                                     | Aldar Properties PJSC                                     | CUSIP: 000000000<br>LEI: 98450048CD8AEF13B480 | Long             | EC               | CORP              | AE        |    471786 | NS      | $1000520.77   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Hana Financial Group Inc                                  | Hana Financial Group Inc                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     24798 | NS      | $1725894.82   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Etihad Etisalat Co                                        | Etihad Etisalat Co                                        | CUSIP: 000000000<br>LEI: 2549007BA9ABDE3HVK79 | Long             | EC               | CORP              | SA        |    102789 | NS      | $1788658.98   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Saudi Energy Co                                           | Saudi Energy Co                                           | CUSIP: 000000000<br>LEI: 549300FXO4ZXUIAXGP41 | Long             | EC               | CORP              | SA        |    231755 | NS      | $1045571.64   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                                          | TotalEnergies SE                                          | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |    138393 | NS      | $12901616.69  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Industries Ltd                                   | Reliance Industries Ltd                                   | CUSIP: 759470107<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |     41753 | NS      | $2425849.30   | 0.25%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Logitech International SA                                 | Logitech International SA                                 | CUSIP: 000000000<br>LEI: 549300SN6PRK6IJJC215 | Long             | EC               | CORP              | CH        |      9959 | NS      | $896811.95    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Brambles Ltd                                              | Brambles Ltd                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    357632 | NS      | $5535693.36   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Al Babtain Power & Telecommunication Co                   | Al Babtain Power & Telecommunication Co                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |    145599 | NS      | $2556886.99   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Indian Bank                                               | Indian Bank                                               | CUSIP: 000000000<br>LEI: 5493008JR8FCVQ6FJL94 | Long             | EC               | CORP              | IN        |    456776 | NS      | $4072752.28   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Vinci SA                                                  | Vinci SA                                                  | CUSIP: 000000000<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |    101636 | NS      | $15030424.53  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Jeronimo Martins SGPS SA                                  | Jeronimo Martins SGPS SA                                  | CUSIP: 000000000<br>LEI: 259400A8SZP10GB5IB19 | Long             | EC               | CORP              | PT        |     49653 | NS      | $1176241.27   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcadyan Technology Corp                                  | Arcadyan Technology Corp                                  | CUSIP: 000000000<br>LEI: 254900R5W61G3GO1Q067 | Long             | EC               | CORP              | TW        |    175000 | NS      | $832030.03    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Adani Ports & Special Economic Zone Ltd                   | Adani Ports & Special Economic Zone Ltd                   | CUSIP: 000000000<br>LEI: 335800QOAXP5TM7OYP69 | Long             | EC               | CORP              | IN        |    110497 | NS      | $1529154.18   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| KB Financial Group Inc                                    | KB Financial Group Inc                                    | CUSIP: 000000000<br>LEI: 529900TKE4MXG3Q6GW86 | Long             | EC               | CORP              | KR        |     15031 | NS      | $1392549.80   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Jentech Precision Industrial Co Ltd                       | Jentech Precision Industrial Co Ltd                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     11000 | NS      | $1305755.40   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| China Hongqiao Group Ltd                                  | China Hongqiao Group Ltd                                  | CUSIP: 000000000<br>LEI: 3003009Q4IBFSDE24571 | Long             | EC               | CORP              | KY        |    255500 | NS      | $1132774.67   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| West African Resources Ltd                                | West African Resources Ltd                                | CUSIP: 000000000<br>LEI: 529900XLO8GMJNTUL013 | Long             | EC               | CORP              | AU        |    567982 | NS      | $1244834.93   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| AIA Group Ltd                                             | AIA Group Ltd                                             | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |    115200 | NS      | $1246743.71   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| International Consolidated Airlines Group SA              | International Consolidated Airlines Group SA              | CUSIP: 000000000<br>LEI: 959800TZHQRUSH1ESL13 | Long             | EC               | CORP              | ES        |    873474 | NS      | $4045794.74   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| PGE Polska Grupa Energetyczna SA                          | PGE Polska Grupa Energetyczna SA                          | CUSIP: 000000000<br>LEI: 259400MP9VXR0E69MJ89 | Long             | EC               | CORP              | PL        |   1232662 | NS      | $3481694.41   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| China Everbright Bank Co Ltd                              | China Everbright Bank Co Ltd                              | CUSIP: 000000000<br>LEI: 549300U6PKQ4H1P34E17 | Long             | EC               | CORP              | CN        |   4791000 | NS      | $1857687.30   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Tauron Polska Energia SA                                  | Tauron Polska Energia SA                                  | CUSIP: 000000000<br>LEI: 259400NAPDFBOTNCRL54 | Long             | EC               | CORP              | PL        |   1266420 | NS      | $3487024.40   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Rolls-Royce Holdings PLC                                  | Rolls-Royce Holdings PLC                                  | CUSIP: 000000000<br>LEI: 213800EC7997ZBLZJH69 | Long             | EC               | CORP              | GB        |    559589 | NS      | $8353363.25   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| ASPEED Technology Inc                                     | ASPEED Technology Inc                                     | CUSIP: 000000000<br>LEI: 984500D002CB7E149R74 | Long             | EC               | CORP              | TW        |      3000 | NS      | $1004066.31   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Airlines Co Ltd                                     | Japan Airlines Co Ltd                                     | CUSIP: 000000000<br>LEI: 3538002MH5L1QZZ93477 | Long             | EC               | CORP              | JP        |    686400 | NS      | $11043062.42  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| People's Insurance Co Group of China Ltd/The              | People's Insurance Co Group of China Ltd/The              | CUSIP: 000000000<br>LEI: 3003000P2JHYHQ524P66 | Long             | EC               | CORP              | CN        |   4116000 | NS      | $2834927.68   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Indus Towers Ltd                                          | Indus Towers Ltd                                          | CUSIP: 000000000<br>LEI: 335800L6DI4VHODGDK41 | Long             | EC               | CORP              | IN        |   1181299 | NS      | $5207872.29   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Japfa Comfeed Indonesia Tbk PT                            | Japfa Comfeed Indonesia Tbk PT                            | CUSIP: 000000000<br>LEI: 549300VJMRP8O87R3147 | Long             | EC               | CORP              | ID        |   8525300 | NS      | $1178878.75   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold Delhaize NV                             | Koninklijke Ahold Delhaize NV                             | CUSIP: 000000000<br>LEI: 724500C9GNBV20UYRX36 | Long             | EC               | CORP              | NL        |    195112 | NS      | $9057514.91   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Telkom Indonesia Persero Tbk PT                           | Telkom Indonesia Persero Tbk PT                           | CUSIP: 000000000<br>LEI: 529900M5SQZAOKV1PC81 | Long             | EC               | CORP              | ID        |  14940100 | NS      | $2690088.32   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Zhejiang Century Huatong Group Co Ltd                     | Zhejiang Century Huatong Group Co Ltd                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    509300 | NS      | $1176634.72   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Chengdu Hongqi Chain Co Ltd                               | Chengdu Hongqi Chain Co Ltd                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |   1464400 | NS      | $1174369.01   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Henan Yuneng Holdings Co Ltd                              | Henan Yuneng Holdings Co Ltd                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    437619 | NS      | $869131.28    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Plejd AB                                                  | Plejd AB                                                  | CUSIP: 000000000<br>LEI: 549300AOUXS7RTR3OV14 | Long             | EC               | CORP              | SE        |     11019 | NS      | $864053.85    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| World Co Ltd                                              | World Co Ltd                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    163900 | NS      | $1517535.36   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Mutual Ltd                                            | Old Mutual Ltd                                            | CUSIP: 000000000<br>LEI: 213800MON84ZWWPQCN47 | Long             | EC               | CORP              | ZA        |   1254483 | NS      | $1011354.78   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| AIB Group PLC                                             | AIB Group PLC                                             | CUSIP: 000000000<br>LEI: 635400AKJBGNS5WNQL34 | Long             | EC               | CORP              | IE        |    124065 | NS      | $1288673.28   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| SoftBank Corp                                             | SoftBank Corp                                             | CUSIP: 000000000<br>LEI: 353800M1YCTS9JRBJ535 | Long             | EC               | CORP              | JP        |   1240200 | NS      | $1645648.50   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Zhongji Innolight Co Ltd                                  | Zhongji Innolight Co Ltd                                  | CUSIP: 000000000<br>LEI: 655600K7YZDKAI214O83 | Long             | EC               | CORP              | CN        |     18358 | NS      | $1513162.44   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SRG Global Ltd                                            | SRG Global Ltd                                            | CUSIP: 000000000<br>LEI: 984500DDOA7EBAC95715 | Long             | EC               | CORP              | AU        |    918948 | NS      | $1548293.39   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyundai Rotem Co Ltd                                      | Hyundai Rotem Co Ltd                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      9200 | NS      | $1018117.72   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Xiaomi Corp                                               | Xiaomi Corp                                               | CUSIP: 000000000<br>LEI: 2549001ACVFAZRNMKL32 | Long             | EC               | CORP              | KY        |      1800 | NS      | $7291.65      | 0.00%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Ambev SA                                                  | Ambev SA                                                  | CUSIP: 000000000<br>LEI: 549300TH5Q6VRP8OT012 | Long             | EC               | CORP              | BR        |    416045 | NS      | $1215003.26   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Osotspa PCL                                               | Osotspa PCL                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TH        |   4320400 | NS      | $1938808.98   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Gentera SAB de CV                                         | Gentera SAB de CV                                         | CUSIP: 000000000<br>LEI: 4469000001ECOWXFNE33 | Long             | EC               | CORP              | MX        |    483632 | NS      | $1358292.46   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd                                 | Alibaba Group Holding Ltd                                 | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |    306300 | NS      | $4649077.83   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Life Insurance Corp of India                              | Life Insurance Corp of India                              | CUSIP: 000000000<br>LEI: 21380068NOA8WMH89Z35 | Long             | EC               | CORP              | IN        |    175684 | NS      | $1344088.29   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Newborn Town Inc                                          | Newborn Town Inc                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    994000 | NS      | $1009188.54   | 0.11%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Rockchip Electronics Co Ltd                               | Rockchip Electronics Co Ltd                               | CUSIP: 000000000<br>LEI: 8368002HC3QUMAKOPK03 | Long             | EC               | CORP              | CN        |     49800 | NS      | $1097399.32   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Kuaishou Technology                                       | Kuaishou Technology                                       | CUSIP: 000000000<br>LEI: 300300FCDZBE6UP9ED24 | Long             | EC               | CORP              | KY        |    249200 | NS      | $1434134.84   | 0.15%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Bilibili Inc                                              | Bilibili Inc                                              | CUSIP: 000000000<br>LEI: 5493008V60M52L3PIS45 | Long             | EC               | CORP              | KY        |     52200 | NS      | $1136519.48   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| WH Group Ltd                                              | WH Group Ltd                                              | CUSIP: 000000000<br>LEI: 254900A4AYEDRWYSE928 | Long             | EC               | CORP              | KY        |   3382000 | NS      | $4425820.77   | 0.46%             |  |  |  | Yes           |                  1 | On Loan: No      |
| NatWest Group PLC                                         | NatWest Group PLC                                         | CUSIP: 000000000<br>LEI: 2138005O9XJIJN4JPN90 | Long             | EC               | CORP              | GB        |   1656293 | NS      | $12082731.08  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| NetEase Inc                                               | NetEase Inc                                               | CUSIP: 000000000<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | KY        |     75100 | NS      | $1633191.76   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Kioxia Holdings Corp                                      | Kioxia Holdings Corp                                      | CUSIP: 000000000<br>LEI: 35380080RTKRARNH4R73 | Long             | EC               | CORP              | JP        |      7400 | NS      | $887497.64    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| EXOR NV                                                   | EXOR NV                                                   | CUSIP: 000000000<br>LEI: 5493002ENHZ6NYET7405 | Long             | EC               | CORP              | NL        |     46444 | NS      | $3513113.30   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd                                      | Tencent Holdings Ltd                                      | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |    150500 | NS      | $9290834.42   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Betsson AB                                                | Betsson AB                                                | CUSIP: 000000000<br>LEI: 549300W61XW8OFGBG077 | Long             | EC               | CORP              | SE        |    142672 | NS      | $1500667.57   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Saga PLC                                                  | Saga PLC                                                  | CUSIP: 000000000<br>LEI: 2138004WWUJN94K2LH95 | Long             | EC               | CORP              | GB        |    184303 | NS      | $1134997.90   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Vestas Wind Systems A/S                                   | Vestas Wind Systems A/S                                   | CUSIP: 000000000<br>LEI: 549300DYMC8BGZZC8844 | Long             | EC               | CORP              | DK        |    201053 | NS      | $5894814.19   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Pop Mart International Group Ltd                          | Pop Mart International Group Ltd                          | CUSIP: 000000000<br>LEI: 9845000A05E8F937E337 | Long             | EC               | CORP              | KY        |     78600 | NS      | $1439626.54   | 0.15%             |  |  |  | Yes           |                  1 | On Loan: No      |
| GSK PLC                                                   | GSK PLC                                                   | CUSIP: 000000000<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |    738741 | NS      | $20107018.04  | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventia Services Group Pty Ltd                             | Ventia Services Group Pty Ltd                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    312230 | NS      | $1118416.42   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Huaxia Bank Co Ltd                                        | Huaxia Bank Co Ltd                                        | CUSIP: 000000000<br>LEI: 300300AKNDEHIGVDZW37 | Long             | EC               | CORP              | CN        |   4034500 | NS      | $4274997.83   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S                                          | Novo Nordisk A/S                                          | CUSIP: 000000000<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |     26381 | NS      | $939243.98    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                                 | Shell PLC                                                 | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |       658 | NS      | $31089.84     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| IONOS Group SE                                            | IONOS Group SE                                            | CUSIP: 000000000<br>LEI: 54930038KPLOYRDHV375 | Long             | EC               | CORP              | DE        |     33360 | NS      | $955169.06    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Saab AB                                                   | Saab AB                                                   | CUSIP: 000000000<br>LEI: 549300ZHO4JCQQI13M69 | Long             | EC               | CORP              | SE        |     30941 | NS      | $2005298.35   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Zijin Gold International Co Ltd                           | Zijin Gold International Co Ltd                           | CUSIP: 000000000<br>LEI: 254900FINUJR4MZ8A417 | Long             | EC               | CORP              | HK        |     50300 | NS      | $1116965.13   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Electrical Industries Co                                  | Electrical Industries Co                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |    449866 | NS      | $2002015.19   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Tata Motors Ltd /new                                      | Tata Motors Ltd /new                                      | CUSIP: 000000000<br>LEI: 335800ZFUZ3FBKQASV25 | Long             | EC               | CORP              | IN        |      1099 | NS      | $4574.50      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Kongsberg Gruppen ASA                                     | Kongsberg Gruppen ASA                                     | CUSIP: 000000000<br>LEI: 5967007LIEEXZXJ9HK73 | Long             | EC               | CORP              | NO        |     30990 | NS      | $1313128.85   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Zhejiang Sanhua Intelligent Controls Co Ltd               | Zhejiang Sanhua Intelligent Controls Co Ltd               | CUSIP: 000000000<br>LEI: 8368003UTQ4F88XERZ23 | Long             | EC               | CORP              | CN        |    535200 | NS      | $1914110.35   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BeOne Medicines Ltd                                       | BeOne Medicines Ltd                                       | CUSIP: 000000000<br>LEI: 549300JFUK6FRD5MH739 | Long             | EC               | CORP              | CH        |     52000 | NS      | $1138134.23   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| GigaDevice Semiconductor Inc                              | GigaDevice Semiconductor Inc                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     22900 | NS      | $1001849.44   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| UniCredit SpA                                             | UniCredit SpA                                             | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |    117518 | NS      | $8240700.86   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Post Holdings Co Ltd                                | Japan Post Holdings Co Ltd                                | CUSIP: 000000000<br>LEI: 5299003D9N4JBS256X18 | Long             | EC               | CORP              | JP        |   1364900 | NS      | $15348583.19  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Scout24 SE                                                | Scout24 SE                                                | CUSIP: 000000000<br>LEI: 5493007EIKM2ENQS7U66 | Long             | EC               | CORP              | DE        |     14746 | NS      | $1121362.36   | 0.12%             |  |  |  | Yes           |                  1 | On Loan: No      |
| China Reinsurance Group Corp                              | China Reinsurance Group Corp                              | CUSIP: 000000000<br>LEI: 300300F3000111000079 | Long             | EC               | CORP              | CN        |   5657000 | NS      | $1060660.44   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Comercial Portugues SA                              | Banco Comercial Portugues SA                              | CUSIP: 000000000<br>LEI: JU1U6S0DG9YLT7N8ZV32 | Long             | EC               | CORP              | PT        |   1483872 | NS      | $1422484.60   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglogold Ashanti Plc                                     | Anglogold Ashanti Plc                                     | CUSIP: 000000000<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |     25402 | NS      | $2473138.72   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                                           | AstraZeneca PLC                                           | CUSIP: 000000000<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     67531 | NS      | $13318463.82  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Wix.com Ltd                                               | Wix.com Ltd                                               | CUSIP: 000000000<br>LEI: 5493008P6N29Q1AG9464 | Long             | EC               | CORP              | IL        |       114 | NS      | $10267.98     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-29

**Name of Applicant:** Lazard Active ETF Trust

**Signature:** Christina Kennedy

**Name of Signer:** Christina Kennedy

**Title:** Chief Financial Officer