# EDGAR Filing Document

**Accession Number:** 0001936157
**File Stem:** 0001752724-25-157203
**Filing Date:** 2025-6
**Character Count:** 27494
**Document Hash:** 118aca68c4c5e7539e654062ca34e6f9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-157203.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001752724-25-157203

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**PERIOD START**: 20251031

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23812
- **FILM NUMBER:** 251076026

**BUSINESS ADDRESS:**
- **STREET 1:** 1700 BROADWAY
- **STREET 2:** SUITE 1850
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80290
- **BUSINESS PHONE:** 7202128740

**MAIL ADDRESS:**
- **STREET 1:** 1700 BROADWAY
- **STREET 2:** SUITE 1850
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80290

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

## Series and Classes Contracts Data

### Clough Hedged Equity ETF (Series ID: S000089015)

| Class ID   | Class Name               | Ticker Symbol   |
|:---|:---|:---|
| C000255432 | Clough Hedged Equity ETF | CBLS            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

  - **Street Address 1:** 1700 Broadway Suite 1850

  - **City:** Denver

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80290

  - **Telephone number:** 8775249155

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

- **a. Name of Series:** Clough Hedged Equity ETF

- **b. EDGAR series identifier (if any):** S000089015

- **c. LEI of Series:** 5299001I1PH1Q5TS7A82

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $54903388.11

**Total Liabilities:** $13597903.28

**Net Assets:** $41305484.83

**Cash Not Reported:** $11804.65

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000255432 | 1.41%                | -3.51%               | 2.60%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2020032.32              | $-1420505.71                               |
| Month 2  | $-908460.58              | $-680065.61                                |
| Month 3  | $413148.37               | $616578.14                                 |

**Designated Index Information**

- **Index Name:** S&P 500 (TR)

- **Index Identifier:** 500TR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Toro Co/The                     | Toro Co/The                                 | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Short            | EC               | CORP              | US        |     -6068 | NS      | $-414323.04   | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                          | SAP SE                                      | CUSIP: 803054204<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |      4144 | NS      | $1210835.36   | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Affirm Holdings Inc             | Affirm Holdings Inc                         | CUSIP: 00827B106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -8460 | NS      | $-420969.60   | -1.02%            |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity Funds T-Fu  | BLACKROCK LIQUIDITY FUNDS T-FUND (INST SHS) | CUSIP: 09248U718<br>LEI: 5493002L9DNZ83RX7V61 | Long             | STIV             | RF                | US        |   1758956 | NS      | $1758955.59   | 4.26%             |  |  |  | No            |                  1 | On Loan: No      |
| LCI Industries                  | LCI Industries                              | CUSIP: 50189K103<br>LEI: 549300E1B98YNJ1WIQ04 | Short            | EC               | CORP              | US        |     -5295 | NS      | $-408138.60   | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc             | Dominion Energy Inc                         | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |     12900 | NS      | $701502.00    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Winnebago Industries Inc        | Winnebago Industries Inc                    | CUSIP: 974637100<br>LEI: 549300B7OYKYJLTE3G11 | Short            | EC               | CORP              | US        |    -12839 | NS      | $-408536.98   | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |
| MicroStrategy Inc               | MicroStrategy Inc                           | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |      2290 | NS      | $870451.90    | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co/The                 | Southern Co/The                             | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |      7600 | NS      | $698364.00    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| adidas AG                       | adidas AG                                   | CUSIP: 00687A107<br>LEI: 549300JSX0Z4CW0V5023 | Long             | EC               | CORP              | DE        |      7868 | NS      | $900492.60    | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Inc      | Vertex Pharmaceuticals Inc                  | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Short            | EC               | CORP              | US        |      -841 | NS      | $-428489.50   | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc            | Freeport-McMoRan Inc                        | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     26860 | NS      | $967765.80    | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Tanger Inc                      | Tanger Inc                                  | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Short            | EC               | CORP              | US        |    -12906 | NS      | $-406668.06   | -0.98%            |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                       | Tesla Inc                                   | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      2550 | NS      | $719508.00    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands  | NU Holdings Ltd/Cayman Islands              | CUSIP: G6683N103<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | BR        |     86394 | NS      | $1073877.42   | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                     | Walmart Inc                                 | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |      9650 | NS      | $938462.50    | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The                   | Boeing Co/The                               | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |      4500 | NS      | $824580.00    | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                  | ConocoPhillips                              | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     11119 | NS      | $990925.28    | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| ICF International Inc           | ICF International Inc                       | CUSIP: 44925C103<br>LEI: 5493003KYFDDC5B3WY64 | Short            | EC               | CORP              | US        |     -4854 | NS      | $-412395.84   | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International Inc      | Mondelez International Inc                  | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |     13801 | NS      | $940262.13    | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnite Inc                     | Magnite Inc                                 | CUSIP: 55955D100<br>LEI: 54930018FR2YX1HHSB02 | Long             | EC               | CORP              | US        |    101800 | NS      | $1210402.00   | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co Inc  | American Electric Power Co Inc              | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |      6500 | NS      | $704210.00    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Rollins Inc                     | Rollins Inc                                 | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               | CORP              | US        |     16626 | NS      | $949843.38    | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Docusign Inc                    | Docusign Inc                                | CUSIP: 256163106<br>LEI: 549300Q7PVDWRZ39JG09 | Long             | EC               | CORP              | US        |     12702 | NS      | $1038388.50   | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Figs Inc                        | Figs Inc                                    | CUSIP: 30260D103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -105316 | NS      | $-424423.48   | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| 2x Long VIX Futures ETF         | 2x Long VIX Futures ETF                     | CUSIP: 92891H606<br>LEI: 549300VPUEG2PPXCMM61 | Long             | EC               | RF                | US        |     12400 | NS      | $553412.00    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                      | Siemens AG                                  | CUSIP: 826197501<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |      8228 | NS      | $948277.00    | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                 | ASML Holding NV                             | CUSIP: N07059210<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      1523 | NS      | $1017485.84   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                       | Adobe Inc                                   | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      2822 | NS      | $1058193.56   | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Coinbase Global Inc             | Coinbase Global Inc                         | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |      4925 | NS      | $999233.25    | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Gogo Inc                        | Gogo Inc                                    | CUSIP: 38046C109<br>LEI: 549300VL3DIHSFHYTO04 | Short            | EC               | CORP              | US        |    -53749 | NS      | $-406879.93   | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK Inc                      | AMETEK Inc                                  | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Short            | EC               | CORP              | US        |     -2490 | NS      | $-422254.20   | -1.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Middleby Corp/The               | Middleby Corp/The                           | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Short            | EC               | CORP              | US        |     -3173 | NS      | $-423119.55   | -1.02%            |  |  |  | No            |                  1 | On Loan: No      |
| RH                              | RH                                          | CUSIP: 74967X103<br>LEI: 5493008MTS3OGGMHGK69 | Long             | EC               | CORP              | US        |      5490 | NS      | $1010324.70   | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                     | Equinix Inc                                 | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Short            | EC               | CORP              | US        |      -495 | NS      | $-426071.25   | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Solaris Energy Infrastructure   | Solaris Energy Infrastructure               | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |     46155 | NS      | $975716.70    | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc | Philip Morris International Inc             | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      6526 | NS      | $1118295.36   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                     | Oracle Corp                                 | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Short            | EC               | CORP              | US        |     -2983 | NS      | $-419767.76   | -1.02%            |  |  |  | No            |                  1 | On Loan: No      |
| BASF SE                         | BASF SE                                     | CUSIP: 055262505<br>LEI: 529900PM64WH8AF1E917 | Long             | EC               | CORP              | DE        |     73022 | NS      | $933951.38    | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Dell Technologies Inc           | Dell Technologies Inc                       | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |     11040 | NS      | $1013030.40   | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcos Dorados Holdings Inc      | Arcos Dorados Holdings Inc                  | CUSIP: G0457F107<br>LEI: 54930023P2MIZN13DQ85 | Long             | EC               | CORP              | UY        |    116789 | NS      | $893435.85    | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Moderna Inc                     | Moderna Inc                                 | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Short            | EC               | CORP              | US        |    -15300 | NS      | $-436662.00   | -1.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Co                   | Ford Motor Co                               | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Short            | EC               | CORP              | US        |    -41351 | NS      | $-413923.51   | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Sable Offshore Corp             | Sable Offshore Corp                         | CUSIP: 78574H104<br>LEI: 254900IMMKZUOZF7V487 | Long             | EC               | CORP              | US        |     50976 | NS      | $951212.16    | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA           | Spotify Technology SA                       | CUSIP: L8681T102<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | SE        |      1858 | NS      | $1140774.84   | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| MakeMyTrip Ltd                  | MakeMyTrip Ltd                              | CUSIP: V5633W109<br>LEI: 529900DNT8HNJ7RYUO60 | Long             | EC               | CORP              | IN        |      9340 | NS      | $979018.80    | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Thor Industries Inc             | Thor Industries Inc                         | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Short            | EC               | CORP              | US        |     -5662 | NS      | $-410042.04   | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co               | General Motors Co                           | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Short            | EC               | CORP              | US        |     -8815 | NS      | $-398790.60   | -0.97%            |  |  |  | No            |                  1 | On Loan: No      |
| EXPAND ENERGY CORPORATION       | EXPAND ENERGY CORPORATION                   | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |      8785 | NS      | $912761.50    | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S                | Novo Nordisk A/S                            | CUSIP: 670100205<br>LEI: 549300DAQ1CVT6CXN342 | Short            | EC               | CORP              | DK        |     -6603 | NS      | $-438769.35   | -1.06%            |  |  |  | No            |                  1 | On Loan: No      |
| SoFi Technologies Inc           | SoFi Technologies Inc                       | CUSIP: 83406F102<br>LEI: 549300SW81JCMVZDDY09 | Short            | EC               | CORP              | US        |    -31900 | NS      | $-399069.00   | -0.97%            |  |  |  | No            |                  1 | On Loan: No      |
| SolarEdge Technologies Inc      | SolarEdge Technologies Inc                  | CUSIP: 83417M104<br>LEI: 5493000K6Y58XXPDF853 | Short            | EC               | CORP              | IL        |    -32166 | NS      | $-393551.01   | -0.95%            |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc           | Micron Technology Inc                       | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |     13550 | NS      | $1042672.50   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI Bank Ltd                  | ICICI Bank Ltd                              | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |     31615 | NS      | $1060999.40   | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc              | HCA Healthcare Inc                          | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Short            | EC               | CORP              | US        |     -1252 | NS      | $-432040.16   | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Polaris Inc                     | Polaris Inc                                 | CUSIP: 731068102<br>LEI: 549300QJSN8UVWN1EI78 | Short            | EC               | CORP              | US        |    -12101 | NS      | $-410949.96   | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc      | Chipotle Mexican Grill Inc                  | CUSIP: 169656105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -11480 | NS      | $-579969.60   | -1.40%            |  |  |  | No            |                  1 | On Loan: No      |
| Valvoline Inc                   | Valvoline Inc                               | CUSIP: 92047W101<br>LEI: 549300CMHPBEY6VPOT75 | Short            | EC               | CORP              | US        |    -12020 | NS      | $-411805.20   | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Venture Global Inc              | Venture Global Inc                          | CUSIP: 92333F101<br>LEI: 2549007XC91CAB3E0N98 | Long             | EC               | CORP              | US        |    107860 | NS      | $904945.40    | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Lululemon Athletica Inc         | Lululemon Athletica Inc                     | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Short            | EC               | CORP              | CA        |     -1552 | NS      | $-420235.04   | -1.02%            |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd                   | HDFC Bank Ltd                               | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |     14885 | NS      | $1081990.65   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Helen of Troy Ltd               | Helen of Troy Ltd                           | CUSIP: G4388N106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -17215 | NS      | $-479609.90   | -1.16%            |  |  |  | No            |                  1 | On Loan: No      |
| Carnival Corp                   | Carnival Corp                               | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | US        |     48180 | NS      | $883621.20    | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd       | Alibaba Group Holding Ltd                   | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | CN        |      8240 | NS      | $984103.20    | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Champion Homes Inc              | Champion Homes Inc                          | CUSIP: 830830105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11233 | NS      | $971654.50    | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc            | Chart Industries Inc                        | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |      7520 | NS      | $1015049.60   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| MarineMax Inc                   | MarineMax Inc                               | CUSIP: 567908108<br>LEI: 254900TIXTN8WY3FNN63 | Short            | EC               | CORP              | US        |    -18516 | NS      | $-397353.36   | -0.96%            |  |  |  | No            |                  1 | On Loan: No      |
| OneWater Marine Inc             | OneWater Marine Inc                         | CUSIP: 68280L101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -28558 | NS      | $-428655.58   | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Ryder System Inc                | Ryder System Inc                            | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Short            | EC               | CORP              | US        |     -3049 | NS      | $-419755.83   | -1.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc        | Digital Realty Trust Inc                    | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Short            | EC               | CORP              | US        |     -2586 | NS      | $-415156.44   | -1.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Service Corp International/US   | Service Corp International/US               | CUSIP: 817565104<br>LEI: 549300RKVM2ME20JHZ15 | Long             | EC               | CORP              | US        |     11563 | NS      | $923883.70    | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Infineon Technologies AG        | Infineon Technologies AG                    | CUSIP: 45662N103<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |     31632 | NS      | $1042907.04   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp/DE               | Brunswick Corp/DE                           | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Short            | EC               | CORP              | US        |     -8908 | NS      | $-410213.40   | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-30

**Name of Applicant:** Elevation Series Trust

**Signature:** Nick Austin

**Name of Signer:** Nick Austin

**Title:** Treasurer