# EDGAR Filing Document

**Accession Number:** 0001829774
**File Stem:** 0001752724-23-013479
**Filing Date:** 2023-1
**Character Count:** 23122
**Document Hash:** 202941db7470dcd1617301f68de61796
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-013479.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0001752724-23-013479

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230125

**PERIOD START**: 20230228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** James Alpha Funds Trust
- **CENTRAL INDEX KEY:** 0001829774
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23611
- **FILM NUMBER:** 23553670

**BUSINESS ADDRESS:**
- **STREET 1:** 515 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 888-814-8180

**MAIL ADDRESS:**
- **STREET 1:** 515 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

## Series and Classes Contracts Data

### Easterly Snow Small Cap Value Fund (Series ID: S000073425)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000230315 | Easterly Snow Small Cap Value Fund Class C  |  |
| C000230316 | Easterly Snow Small Cap Value Fund Class I  |  |
| C000230317 | Easterly Snow Small Cap Value Fund Class R6 |  |
| C000230318 | Easterly Snow Small Cap Value Fund Class A  |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **EASTERLY SNOW SMALL CAP VALUE FUND** | **EASTERLY SNOW SMALL CAP VALUE FUND** | **EASTERLY SNOW SMALL CAP VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **November 30, 2022** | **November 30, 2022** | **November 30, 2022** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 94.0%** |  |
|  | **APPAREL & TEXTILE PRODUCTS - 0.8%** |  |
| 2593 | Carter's, Inc. | &nbsp;&nbsp;&nbsp; $189393 |
|  | **AUTOMOTIVE - 3.9%** |  |
| 41266 | Modine Manufacturing Company<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 873601 |
|  | **BANKING - 15.2%** |  |
| 21521 | BankUnited, Inc. | &nbsp;&nbsp;&nbsp; 790251 |
| 32292 | First Commonwealth Financial Corporation | &nbsp;&nbsp;&nbsp; 475338 |
| 46644 | FNB Corporation | &nbsp;&nbsp;&nbsp; 657680 |
| 8574 | OFG Bancorp | &nbsp;&nbsp;&nbsp; 248389 |
| 38140 | Old National Bancorp | &nbsp;&nbsp;&nbsp; 728855 |
| 26496 | Umpqua Holdings Corporation | &nbsp;&nbsp;&nbsp; 537074 |
|  |  | &nbsp;&nbsp; 3437587 |
|  | **BIOTECH & PHARMA - 0.6%** |  |
| 5870 | Collegium Pharmaceutical, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 128377 |
|  | **COMMERCIAL SUPPORT SERVICES - 6.6%** |  |
| 18684 | ABM Industries, Inc. | &nbsp;&nbsp;&nbsp; 881511 |
| 5008 | AMN Healthcare Services, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 619490 |
|  |  | &nbsp;&nbsp; 1501001 |
|  | **ENTERTAINMENT CONTENT - 3.0%** |  |
| 89784 | Lions Gate Entertainment Corporation, Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 685950 |
|  | **FOOD - 1.9%** |  |
| 16402 | Pilgrim's Pride Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 429076 |
|  | **HOME & OFFICE PRODUCTS - 3.0%** |  |
| 120112 | ACCO Brands Corporation | &nbsp;&nbsp;&nbsp; 669024 |
|  | **INDUSTRIAL SUPPORT SERVICES - 0.8%** |  |
| 1395 | WESCO International, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 179843 |
|  | **INSURANCE - 9.8%** |  |
| 21020 | American Equity Investment Life Holding Company | &nbsp;&nbsp;&nbsp; 851520 |

---

---

| | | |
|:---|:---|:---|
| **EASTERLY SNOW SMALL CAP VALUE FUND** | **EASTERLY SNOW SMALL CAP VALUE FUND** | **EASTERLY SNOW SMALL CAP VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **November 30, 2022** | **November 30, 2022** | **November 30, 2022** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 94.0% (Continued)** |  |
|  | **INSURANCE - 9.8% (Continued)** |  |
| 9663 | Argo Group International Holdings Ltd. | &nbsp;&nbsp;&nbsp; $262640 |
| 37390 | CNO Financial Group, Inc. | &nbsp;&nbsp;&nbsp; 877918 |
| 5745 | Lincoln National Corporation | &nbsp;&nbsp;&nbsp; 223710 |
|  |  | &nbsp;&nbsp; 2215788 |
|  | **LEISURE FACILITIES & SERVICES - 10.1%** |  |
| 30348 | Bloomin' Brands, Inc. | &nbsp;&nbsp;&nbsp; 683437 |
| 26344 | Brinker International, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 881207 |
| 52420 | Cinemark Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 713436 |
|  |  | &nbsp;&nbsp; 2278080 |
|  | **MACHINERY - 2.3%** |  |
| 2500 | Hillenbrand, Inc. | &nbsp;&nbsp;&nbsp; 125000 |
| 4005 | Kennametal, Inc. | &nbsp;&nbsp;&nbsp; 105812 |
| 6157 | Terex Corporation | &nbsp;&nbsp;&nbsp; 282668 |
|  |  | &nbsp;&nbsp; 513480 |
|  | **MEDICAL EQUIPMENT & DEVICES - 2.3%** |  |
| 25240 | Co-Diagnostics, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 75972 |
| 8167 | Integra LifeSciences Holdings Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 448695 |
|  |  | &nbsp;&nbsp; 524667 |
|  | **METALS & MINING - 0.6%** |  |
| 14082 | Alamos Gold, Inc., Class A | &nbsp;&nbsp;&nbsp; 136595 |
|  | **OIL & GAS PRODUCERS - 10.1%** |  |
| 14447 | Crescent Point Energy Corporation | &nbsp;&nbsp;&nbsp; 112253 |
| 28699 | Delek US Holdings, Inc. | &nbsp;&nbsp;&nbsp; 889095 |
| 12326 | HF Sinclair Corporation | &nbsp;&nbsp;&nbsp; 768403 |
| 73599 | Southwestern Energy Company<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 509305 |
|  |  | &nbsp;&nbsp; 2279056 |
|  | **RETAIL - DISCRETIONARY - 5.8%** |  |
| 47658 | American Eagle Outfitters, Inc. | &nbsp;&nbsp;&nbsp; 753950 |
| 19094 | Urban Outfitters, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 552580 |
|  |  | &nbsp;&nbsp; 1306530 |
|  | **SEMICONDUCTORS – 7.9%** |  |
| 2609 | Diodes, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 240628 |
| 49271 | Photronics, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 926295 |

---

---

| | | |
|:---|:---|:---|
| **EASTERLY SNOW SMALL CAP VALUE FUND** | **EASTERLY SNOW SMALL CAP VALUE FUND** | **EASTERLY SNOW SMALL CAP VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **November 30, 2022** | **November 30, 2022** | **November 30, 2022** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 94.0% (Continued)** |  |
|  | **SEMICONDUCTORS – 7.9% (Continued)** |  |
| 9958 | Silicon Motion Technology Corporation - ADR | &nbsp;&nbsp;&nbsp; $628350 |
|  |  | &nbsp;&nbsp; 1795273 |
|  | **SOFTWARE - 0.9%** |  |
| 2162 | Ziff Davis, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 199466 |
|  | **STEEL - 3.7%** |  |
| 17092 | Commercial Metals Company | &nbsp;&nbsp;&nbsp; 841269 |
|  | **TECHNOLOGY HARDWARE - 4.7%** |  |
| 11848 | Super Micro Computer, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1069045 |
|  | **TOTAL COMMON STOCKS (Cost $19,097,412)** | &nbsp;&nbsp; 21253101 |
|  | **TOTAL INVESTMENTS – 94.0% (Cost $19,097,412)** | &nbsp;&nbsp;&nbsp; $21253101 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 6.0%** | &nbsp;&nbsp; 1358278 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $22611379 |

---

ADR - American Depositary Receipt <br> LTD - Limited Company

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** James Alpha Funds Trust

- **b. Investment Company Act file number:** 811-23611

- **c. CIK number of Registrant:** 0001829774

- **d. LEI of Registrant:** 5493007JDS1R5QEQGK05

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

  - **Street Address 1:** 515 Madison Ave

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10022

  - **Telephone number:** 646-201-4042

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

- **a. Name of Series:** Easterly Snow Small Cap Value Fund

- **b. EDGAR series identifier (if any):** S000073425

- **c. LEI of Series:** 549300IUIY6R0DB0YU35

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

- **a. Date of fiscal year-end:** 2023-02-28

- **b. Date as of which information is reported:** 2022-11-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $22626447.33

**Total Liabilities:** $15068.26

**Net Assets:** $22611379.07

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000230318 | -9.47%               | 14.82%               | 7.77%                |
| Class ID C000230315 | -9.52%               | 14.73%               | 7.70%                |
| Class ID C000230317 | -9.44%               | 14.83%               | 7.78%                |
| Class ID C000230316 | -9.44%               | 14.83%               | 7.78%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $129431.46               | $-2006200.33                               |
| Month 2  | $-109229.86              | $2746362.20                                |
| Month 3  | $-93106.27               | $1664524.59                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Collegium Pharmaceutical Inc.                   | COLLEGIUM PHARMA          | CUSIP: 19459J104<br>LEI: 54930049FXZMTLW8D496 | Long             | EC               | CORP              | US        |      5870 | NS      | $128376.90    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Ziff Davis Inc                                  | ZIFF DAVIS INC            | CUSIP: 48123V102<br>LEI: 5493008OJYGLHD7MXA18 | Long             | EC               | CORP              | US        |      2162 | NS      | $199466.12    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Wesco International, Inc.                       | WESCO INTL                | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |      1395 | NS      | $179843.40    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Umpqua Holdings Co                              | UMPQUA HOLDINGS           | CUSIP: 904214103<br>LEI: 5299002ENJ7CY215BW86 | Long             | EC               | CORP              | US        |     26496 | NS      | $537073.92    | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| AMN Healthcare Services Inc                     | AMN HEALTHCARE            | CUSIP: 001744101<br>LEI: 529900W3ARRTCNFH2I39 | Long             | EC               | CORP              | US        |      5008 | NS      | $619489.60    | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co.                        | MODINE MANUFACTURING CO   | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |     41266 | NS      | $873601.22    | 3.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln National Corporation                    | LINCOLN NATL CRP          | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |      5745 | NS      | $223710.30    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Co-Diagnostics Inc.                             | CO-DIAGNOSTICS I          | CUSIP: 189763105<br>LEI: 549300Z1JPESYWFM1R93 | Long             | EC               | CORP              | US        |     25240 | NS      | $75972.40     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| OFG Bancorp                                     | OFG BANCORP               | CUSIP: 67103X102<br>LEI: 549300Q4QEXJ37LEXQ06 | Long             | EC               | CORP              | PR        |      8574 | NS      | $248388.78    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Outfitters Inc.                           | URBAN OUTFITTER           | CUSIP: 917047102<br>LEI: 549300N3DUFR5U6NRN38 | Long             | EC               | CORP              | US        |     19094 | NS      | $552580.36    | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| American Eagle Outfitters Inc.                  | AMER EAGLE OUTF           | CUSIP: 02553E106<br>LEI: 5299001Z9HXK01DHW793 | Long             | EC               | CORP              | US        |     47658 | NS      | $753949.56    | 3.33%             |  |  |  | No            |                  1 | On Loan: No      |
| BankUnited Inc.                                 | BANKUNITED INC            | CUSIP: 06652K103<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | EC               | CORP              | US        |     21521 | NS      | $790251.12    | 3.49%             |  |  |  | No            |                  1 | On Loan: No      |
| American Equity Investment Life Holding Company | AMER EQUITY INVT          | CUSIP: 025676206<br>LEI: 549300RK5RZQ740FPL83 | Long             | EC               | CORP              | US        |     21020 | NS      | $851520.20    | 3.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Cinemark Holdings Inc.                          | CINEMARK HOLDING          | CUSIP: 17243V102<br>LEI: 549300LL2QMPTYIE0K55 | Long             | EC               | CORP              | US        |     52420 | NS      | $713436.20    | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Pilgrims Pride Corporation                      | PILGRIM'S PRIDE           | CUSIP: 72147K108<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | EC               | CORP              | US        |     16402 | NS      | $429076.32    | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Metals Company                       | COMMERCIAL METAL          | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |     17092 | NS      | $841268.24    | 3.72%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp.                               | HF SINCLAIR CORP          | CUSIP: 403949100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12326 | NS      | $768402.84    | 3.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BBH                                             | BBH SWEEP VEHICLE         | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   1266063 | PA      | $1266062.81   | 5.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Argo Group International Holdings Ltd.          | ARGO GROUP INTER          | CUSIP: G0464B107<br>LEI: 549300M4T8Y5TTWI6O03 | Long             | EC               | CORP              | BM        |      9663 | NS      | $262640.34    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwestern Energy Company                     | SOUTHWESTRN ENGY          | CUSIP: 845467109<br>LEI: EFWMP121W54QV9MGOP87 | Long             | EC               | CORP              | US        |     73599 | NS      | $509305.08    | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Carters Incorporation                           | CARTER'S INC              | CUSIP: 146229109<br>LEI: 5299003WAQK4R3L3ZU36 | Long             | EC               | CORP              | US        |      2593 | NS      | $189392.72    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Terex Corporation                               | TEREX CORP                | CUSIP: 880779103<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | EC               | CORP              | US        |      6157 | NS      | $282667.87    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloomin Brands Inc                              | BLOOMIN' BRANDS           | CUSIP: 094235108<br>LEI: E1UJ2GO305B5FXGV7N04 | Long             | EC               | CORP              | US        |     30348 | NS      | $683436.96    | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold Inc.                                | ALAMOS GOLD INC           | CUSIP: 011532108<br>LEI: 549300TDOX73YGYXE959 | Long             | EC               | CORP              | CA        |     14082 | NS      | $136595.40    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillenbrand, Inc.                               | HILLENBRAND INC           | CUSIP: 431571108<br>LEI: U246OE781574J2BUD366 | Long             | EC               | CORP              | US        |      2500 | NS      | $125000.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| ABM Inds Inc                                    | ABM INDUSTRIES            | CUSIP: 000957100<br>LEI: QF02R89VEIOROM77J447 | Long             | EC               | CORP              | US        |     18684 | NS      | $881511.12    | 3.90%             |  |  |  | No            |                  1 | On Loan: No      |
| F N B Corp (Pennsylvania)                       | FNB CORP                  | CUSIP: 302520101<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | EC               | CORP              | US        |     46644 | NS      | $657680.40    | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Brinker International, Inc.                     | BRINKER INTL              | CUSIP: 109641100<br>LEI: 52990067JY6PBGJNTG76 | Long             | EC               | CORP              | US        |     26344 | NS      | $881206.80    | 3.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Integra LifeSciences Holdings Corporation       | INTEGRA LIFESCIE          | CUSIP: 457985208<br>LEI: WB7IJCYY8YFTENS4O147 | Long             | EC               | CORP              | US        |      8167 | NS      | $448694.98    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Lions Gate Entertainment Corp.                  | LIONS GATE ENTERTAINMENT- | CUSIP: 535919401<br>LEI: 5493000JSMHPHZURLM72 | Long             | EC               | CORP              | CA        |     89784 | NS      | $685949.76    | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO Financial Group, Inc.                       | CNO FINANCIAL GR          | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |     37390 | NS      | $877917.20    | 3.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Old National Bancorp                            | OLD NATL BANCORP          | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |     38140 | NS      | $728855.40    | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Diodes Incorporated                             | DIODES INC                | CUSIP: 254543101<br>LEI: 549300XP2X1ARVH3BX23 | Long             | EC               | CORP              | US        |      2609 | NS      | $240628.07    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Kennametal Inc                                  | KENNAMETAL INC            | CUSIP: 489170100<br>LEI: 549300GZDSG25XUV0Y08 | Long             | EC               | CORP              | US        |      4005 | NS      | $105812.10    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Crescent Point Energy Corp                      | CRESCENT POINT            | CUSIP: 22576C101<br>LEI: 549300FTKUHZK8OC7N74 | Long             | EC               | CORP              | CA        |     14447 | NS      | $112253.19    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Micro Computer Inc.                       | SUPER MICRO COMP          | CUSIP: 86800U104<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |     11848 | NS      | $1069045.04   | 4.73%             |  |  |  | No            |                  1 | On Loan: No      |
| First Commonwealth Financial Corp  PA           | FIRST COMMON FIN          | CUSIP: 319829107<br>LEI: 549300ZHLQ42NXDETL24 | Long             | EC               | CORP              | US        |     32292 | NS      | $475338.24    | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Delek US Holdings Inc.                          | DELEK US HOLDING          | CUSIP: 24665A103<br>LEI: 5493003O53JMENV1N385 | Long             | EC               | CORP              | US        |     28699 | NS      | $889095.02    | 3.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc.                                 | PHOTRONICS INC            | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |     49271 | NS      | $926294.80    | 4.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Silicon Motion Technology Corp.                 | SILICON MOTI-ADR          | CUSIP: 82706C108<br>LEI: 5299005RBVBZQJTYFC89 | Long             | EC               | CORP              | KY        |      9958 | NS      | $628349.80    | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCO Brands Corporation                         | ACCO BRANDS CORP          | CUSIP: 00081T108<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | EC               | CORP              | US        |    120112 | NS      | $669023.84    | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-28

**Name of Applicant:** James Alpha Funds Trust

**Signature:** Erik Naviloff

**Name of Signer:** Erik Naviloff

**Title:** Asst Treasurer