# EDGAR Filing Document

**Accession Number:** 0002013853
**File Stem:** 0000910472-26-006744
**Filing Date:** 2026-5
**Character Count:** 46374
**Document Hash:** 9e640b2ac1fdee3d3a28305de218778e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-006744.hdr.sgml**: 20260519

**ACCESSION NUMBER**: 0000910472-26-006744

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260519

**DATE AS OF CHANGE**: 20260519

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** New Age Alpha Funds Trust
- **CENTRAL INDEX KEY:** 0002013853

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23945
- **FILM NUMBER:** 26996425

**BUSINESS ADDRESS:**
- **STREET 1:** 555 THEODORE FREMD AVENUE
- **STREET 2:** SUITE A-101
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580
- **BUSINESS PHONE:** 212-922-2699

**MAIL ADDRESS:**
- **STREET 1:** 555 THEODORE FREMD AVENUE
- **STREET 2:** SUITE A-101
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580

## Series and Classes Contracts Data

### NAA Risk Managed Real Estate Fund (Series ID: S000087630)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000253489 | Institutional Class |  |
| C000253490 | Class A             |  |
| C000253492 | Class C             |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** New Age Alpha Funds Trust

- **b. Investment Company Act file number:** 811-23945

- **c. CIK number of Registrant:** 0002013853

- **d. LEI of Registrant:** 529900860B9CQ8SDNS27

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

  - **Street Address 1:** 555 Theodore Fremd Avenue

  - **City:** Rye

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10580

  - **Telephone number:** 212-922-2699

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

- **a. Name of Series:** NAA RISK MANAGED REAL ESTATE FUND

- **b. EDGAR series identifier (if any):** S000087630

- **c. LEI of Series:** 529900JOIA0Y5B3KRG74

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

- **a. Date of fiscal year-end:** 2026-09-30

- **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:** $252974011.03

**Total Liabilities:** $72762993.28

**Net Assets:** $180211017.75

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000253489 | 2.90%                | 6.97%                | -6.12%               |
| Class ID C000253490 | 2.85%                | 6.96%                | -6.17%               |
| Class ID C000253492 | 2.78%                | 6.93%                | -6.22%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $4341392.27                                |
| Month 2  | $0.00                    | $10914325.93                               |
| Month 3  | $-327935.27              | $-10001802.74                              |

**Designated Index Information**

- **Index Name:** NAA Risk Managed RE Fd DRP

- **Index Identifier:** NAA RISK MANAGED RE FD DRP

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Agree Realty Corp                       | Agree Realty Corporation                        | CUSIP: 008492100<br>LEI: 98450090H010B37OEB68 | Long             | EC               | CORP              | US        |     20351 | NS      | $1534058.38   | 0.85%             |  |  |  | No            | 1                  | On Loan: No      |
| Alexandria Real Estate Equities, Inc.   | Alexandria Real Estate Equities, Inc. REIT      | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |     28257 | NS      | $1311689.94   | 0.73%             |  |  |  | No            | 1                  | On Loan: No      |
| American Homes 4 Rent                   | American Homes 4 Rent Class A                   | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |     59302 | NS      | $1655711.84   | 0.92%             |  |  |  | No            | 1                  | On Loan: No      |
| Americold Realty Trust Inc              | Americold Realty Trust, Inc.                    | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Short            | EC               | CORP              | US        |    -29037 | NS      | $-332764.02   | -0.18%            |  |  |  | No            | 1                  | On Loan: No      |
| AvalonBay Communities, Inc.             | AvalonBay Communities, Inc. REIT                | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Short            | EC               | CORP              | US        |     -6118 | NS      | $-999375.30   | -0.55%            |  |  |  | No            | 1                  | On Loan: No      |
| BXP Inc                                 | BXP, Inc. REIT                                  | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |     26009 | NS      | $1349867.10   | 0.75%             |  |  |  | No            | 1                  | On Loan: No      |
| Brixmor Property Group Inc              | Brixmor Property Group, Inc.                    | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Short            | EC               | CORP              | US        |    -38297 | NS      | $-1102953.60  | -0.61%            |  |  |  | No            | 1                  | On Loan: No      |
| Broadstone Net Lease Inc                | Broadstone Net Lease, Inc.                      | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Short            | EC               | CORP              | US        |    -97351 | NS      | $-1778602.77  | -0.99%            |  |  |  | No            | 1                  | On Loan: No      |
| CBRE Group Inc.                         | CBRE Group, Inc.                                | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Short            | EC               | CORP              | US        |    -13919 | NS      | $-1885467.74  | -1.05%            |  |  |  | No            | 1                  | On Loan: No      |
| Camden Property Trust                   | Camden Property Trust REIT                      | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |     19588 | NS      | $1912964.08   | 1.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Caretrust Reit Inc                      | CareTrust REIT, Inc. REIT                       | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               | CORP              | US        |     39776 | NS      | $1457790.40   | 0.81%             |  |  |  | No            | 1                  | On Loan: No      |
| Sila Realty Trust Inc                   | Sila Realty Trust, Inc.                         | CUSIP: 146280508<br>LEI: 549300HXH142HWKKSW59 | Short            | EC               | CORP              | US        |     -8517 | NS      | $-201682.56   | -0.11%            |  |  |  | No            | 1                  | On Loan: No      |
| Centerspace                             | Centerspace REIT                                | CUSIP: 15202L107<br>LEI: 5493002LG2SH9EEHT720 | Short            | EC               | CORP              | US        |     -3207 | NS      | $-184242.15   | -0.10%            |  |  |  | No            | 1                  | On Loan: No      |
| COPT Defense Properties                 | COPT Defense Properties REIT                    | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               | CORP              | US        |     20422 | NS      | $624913.20    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Cousins Properties Inc.                 | Cousins Properties, Inc. REIT                   | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Short            | EC               | CORP              | US        |    -81781 | NS      | $-1845797.17  | -1.02%            |  |  |  | No            | 1                  | On Loan: No      |
| CTO Realty Growth Inc New               | CTO Realty Growth, Inc.                         | CUSIP: 22948Q101<br>LEI: 254900ZQ99OFO1WXS678 | Short            | EC               | CORP              | US        |      -370 | NS      | $-6841.30     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CubeSmart (Maryland)                    | CubeSmart REIT                                  | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41947 | NS      | $1537357.55   | 0.85%             |  |  |  | No            | 1                  | On Loan: No      |
| Curbline Properties Corp.               | Curbline Properties Corporation                 | CUSIP: 23128Q101<br>LEI: 529900PGR41LH0I81I15 | Short            | EC               | CORP              | US        |    -72278 | NS      | $-1864049.62  | -1.03%            |  |  |  | No            | 1                  | On Loan: No      |
| DiamondRock Hospitality Co.             | DiamondRock Hospitality Company REIT            | CUSIP: 252784301<br>LEI: 529900KKD4BPVBUAQ734 | Short            | EC               | CORP              | US        |   -102704 | NS      | $-962336.48   | -0.53%            |  |  |  | No            | 1                  | On Loan: No      |
| Digital Realty Trust Inc.               | Digital Realty Trust, Inc. REIT                 | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     44884 | NS      | $8088545.64   | 4.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Diversified Healthcare Trust            | Diversified Healthcare Trust                    | CUSIP: 25525P107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -17907 | NS      | $-118902.48   | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| EPR Properties                          | EPR Properties REIT                             | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |     15065 | NS      | $752647.40    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Easterly Government Properties Inc      | Easterly Government Properties, Inc.            | CUSIP: 27616P301<br>LEI: 549300ERMCEFC6S8HL77 | Short            | EC               | CORP              | US        |     -8809 | NS      | $-188776.87   | -0.10%            |  |  |  | No            | 1                  | On Loan: No      |
| Eastgroup Properties, Inc.              | EastGroup Properties, Inc.                      | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |      9498 | NS      | $1757984.82   | 0.98%             |  |  |  | No            | 1                  | On Loan: No      |
| Equinix, Inc.                           | Equinix, Inc. REIT                              | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |     12573 | NS      | $12324557.52  | 6.84%             |  |  |  | No            | 1                  | On Loan: No      |
| Equity Lifestyle Properties Inc         | Equity LifeStyle Properties, Inc. REIT          | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     34239 | NS      | $2137198.38   | 1.19%             |  |  |  | No            | 1                  | On Loan: No      |
| Equity Residential                      | Equity Residential REIT                         | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |     61463 | NS      | $3635536.45   | 2.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Essential Properties Realty Trust Inc.  | Essential Properties Realty Trust, Inc. REIT    | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |     36254 | NS      | $1100671.44   | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| Essex Property Trust, Inc.              | Essex Property Trust, Inc. REIT                 | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |     11220 | NS      | $2715240.00   | 1.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Extra Space Storage Inc.                | Extra Space Storage, Inc. REIT                  | CUSIP: 30225T102<br>LEI: 529900SDJHKRQWED6A16 | Long             | EC               | CORP              | US        |     39096 | NS      | $5126658.48   | 2.84%             |  |  |  | No            | 1                  | On Loan: No      |
| Federal Realty Investment Trust         | Federal Realty Investment Trust REIT            | CUSIP: 313745101<br>LEI: 549300FHEI1SLVZ0RB48 | Short            | EC               | CORP              | US        |    -17596 | NS      | $-1868871.16  | -1.04%            |  |  |  | No            | 1                  | On Loan: No      |
| First Industrial Realty Trust, Inc.     | First Industrial Realty Trust, Inc. REIT        | CUSIP: 32054K103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -32091 | NS      | $-1856464.35  | -1.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Gaming and Leisure Properties Inc       | Gaming and Leisure Properties, Inc. REIT        | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |     50317 | NS      | $2232565.29   | 1.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Global Net Lease Inc                    | Global Net Lease, Inc.                          | CUSIP: 379378201<br>LEI: 549300NUYANCT5SU8Z65 | Short            | EC               | CORP              | US        |    -64682 | NS      | $-605423.52   | -0.34%            |  |  |  | No            | 1                  | On Loan: No      |
| American Healthcare REIT Inc.           | American Healthcare REIT, Inc.                  | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               | CORP              | US        |     31726 | NS      | $1496198.16   | 0.83%             |  |  |  | No            | 1                  | On Loan: No      |
| HRTI LLC                                | Healthcare Realty Trust, Inc. REIT              | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Short            | EC               | CORP              | US        |   -106282 | NS      | $-1805731.18  | -1.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Healthpeak Properties Inc               | Healthpeak Properties, Inc.                     | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |    117407 | NS      | $1928997.01   | 1.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Highwoods Properties, Inc.              | Highwoods Properties, Inc. REIT                 | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Short            | EC               | CORP              | US        |    -69896 | NS      | $-1496473.36  | -0.83%            |  |  |  | No            | 1                  | On Loan: No      |
| Host Hotels & Resorts Inc               | Host Hotels & Resorts, Inc. REIT                | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |    111152 | NS      | $2129672.32   | 1.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Independence Realty Trust Inc           | Independence Realty Trust, Inc.                 | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |     44951 | NS      | $669320.39    | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Invitation Homes Inc.                   | Invitation Homes, Inc.                          | CUSIP: 46187W107<br>LEI: 984500FE452E665C9F85 | Long             | EC               | CORP              | US        |    100330 | NS      | $2493200.50   | 1.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Iron Mountain Inc.                      | Iron Mountain, Inc.                             | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |     51352 | NS      | $5245093.28   | 2.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Kilroy Realty Corporation               | Kilroy Realty Corporation REIT                  | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |     20130 | NS      | $567867.30    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Kimco Realty Corporation                | Kimco Realty Corporation REIT                   | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |    116643 | NS      | $2620968.21   | 1.45%             |  |  |  | No            | 1                  | On Loan: No      |
| Kite Realty Group Trust                 | Kite Realty Group Trust REIT                    | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38645 | NS      | $948734.75    | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| LTC Properties Inc                      | LTC Properties, Inc. REIT                       | CUSIP: 502175102<br>LEI: 549300NRZP8IJG2KY677 | Short            | EC               | CORP              | US        |    -49461 | NS      | $-1837970.76  | -1.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Lamar Advertising Company               | Lamar Advertising Company Class A               | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |     15940 | NS      | $2018960.40   | 1.12%             |  |  |  | No            | 1                  | On Loan: No      |
| LXP Industrial Trust                    | LXP Industrial Trust                            | CUSIP: 529043408<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               | CORP              | US        |     10915 | NS      | $504927.90    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| The Macerich Company                    | Macerich Company (The) REIT                     | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               | CORP              | US        |     47435 | NS      | $896521.50    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Marcus & Millichap Inc                  | Marcus & Millichap, Inc.                        | CUSIP: 566324109<br>LEI: 549300B2HE8ULXNB1N48 | Short            | EC               | CORP              | US        |    -12270 | NS      | $-326259.30   | -0.18%            |  |  |  | No            | 1                  | On Loan: No      |
| Mid-America Apartment Communities, Inc. | Mid-America Apartment Communities, Inc. REIT    | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |     21166 | NS      | $2584791.92   | 1.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Millrose Properties Inc.                | Millrose Properties, Inc.                       | CUSIP: 601137102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -65601 | NS      | $-1836828.00  | -1.02%            |  |  |  | No            | 1                  | On Loan: No      |
| NNN REIT Inc                            | NNN REIT, Inc. REIT                             | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |     33496 | NS      | $1407836.88   | 0.78%             |  |  |  | No            | 1                  | On Loan: No      |
| Nexpoint Residential Trust Inc          | NexPoint Residential Trust, Inc.                | CUSIP: 65341D102<br>LEI: 549300U2J6XVYBF87166 | Long             | EC               | CORP              | US        |        17 | NS      | $425.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Omega Healthcare Investors, Inc.        | Omega Healthcare Investors, Inc. REIT           | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |     51251 | NS      | $2245818.82   | 1.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Phillips Edison & Co Inc                | Phillips Edison & Company, Inc. REIT            | CUSIP: 71844V201<br>LEI: 549300JPN4YHYPXTJQ85 | Long             | EC               | CORP              | US        |     23119 | NS      | $865112.98    | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Prologis Inc.                           | Prologis, Inc. REIT                             | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |    119829 | NS      | $15838997.22  | 8.79%             |  |  |  | No            | 1                  | On Loan: No      |
| Public Storage                          | Public Storage REIT                             | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |     28996 | NS      | $7854436.48   | 4.36%             |  |  |  | No            | 1                  | On Loan: No      |
| The RMR Group Inc.                      | RMR Group, Inc. (The) Class A                   | CUSIP: 74967R106<br>LEI: 549300JP4L34E48UJM16 | Long             | EC               | CORP              | US        |     29780 | NS      | $460696.60    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Rayonier Inc                            | Rayonier, Inc. REIT                             | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Short            | EC               | CORP              | US        |    -18847 | NS      | $-388625.14   | -0.22%            |  |  |  | No            | 1                  | On Loan: No      |
| Realty Income Corporation               | Realty Income Corporation REIT                  | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |    130391 | NS      | $7977321.38   | 4.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Regency Centers Corp.                   | Regency Centers Corporation REIT                | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |     28868 | NS      | $2184152.88   | 1.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Rexford Industrial Realty Inc.          | Rexford Industrial Realty, Inc.                 | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |     42814 | NS      | $1401302.22   | 0.78%             |  |  |  | No            | 1                  | On Loan: No      |
| Ryman Hospitality Properties Inc        | Ryman Hospitality Properties, Inc. REIT         | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |     11584 | NS      | $1068855.68   | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| SBA Communications Corp.                | SBA Communications Corporation                  | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Short            | EC               | CORP              | US        |     -4265 | NS      | $-734049.15   | -0.41%            |  |  |  | No            | 1                  | On Loan: No      |
| Sabra Health Care REIT, Inc.            | Sabra Health Care REIT, Inc. REIT               | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |     44480 | NS      | $855350.40    | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Simon Property Group Inc                | Simon Property Group, Inc. REIT                 | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     42767 | NS      | $7977328.51   | 4.43%             |  |  |  | No            | 1                  | On Loan: No      |
| SmartStop Self Storage REIT Inc         | Smartstop Self Storage REIT, Inc.               | CUSIP: 83192D402<br>LEI: 549300EC266625K12S42 | Short            | EC               | CORP              | US        |    -59390 | NS      | $-1798329.20  | -1.00%            |  |  |  | No            | 1                  | On Loan: No      |
| STAG Industrial, Inc.                   | STAG Industrial, Inc.                           | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |     33963 | NS      | $1224705.78   | 0.68%             |  |  |  | No            | 1                  | On Loan: No      |
| Sun Communities, Inc.                   | Sun Communities, Inc. REIT                      | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |     20281 | NS      | $2554594.76   | 1.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Tanger Inc.                             | Tanger, Inc. REIT                               | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               | CORP              | US        |     21364 | NS      | $725948.72    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Terreno Realty Corporation              | Terreno Realty Corporation                      | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18887 | NS      | $1160039.54   | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| UDR Inc                                 | UDR, Inc. REIT                                  | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |     54469 | NS      | $1839962.82   | 1.02%             |  |  |  | No            | 1                  | On Loan: No      |
| United States Treasury Bills            | U.S. Treasury Bill 0.000%, Due 10/1/2026        | CUSIP: 912797SA6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9000000 | PA      | $8835833.79   | 4.90%             | 2026-10-01      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Ventas Inc.                             | Ventas, Inc. REIT                               | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |     80001 | NS      | $6542481.78   | 3.63%             |  |  |  | No            | 1                  | On Loan: No      |
| Vici Properties Inc                     | VICI Properties, Inc.                           | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |    192500 | NS      | $5259100.00   | 2.92%             |  |  |  | No            | 1                  | On Loan: No      |
| Vornado Realty Trust                    | Vornado Realty Trust REIT                       | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29595 | NS      | $769174.05    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| W. P. Carey Inc                         | WP Carey, Inc. REIT                             | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |     39350 | NS      | $2674226.00   | 1.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Welltower Inc.                          | Welltower, Inc. REIT                            | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |     89367 | NS      | $17668749.57  | 9.80%             |  |  |  | No            | 1                  | On Loan: No      |
| Xenia Hotels & Resorts Inc              | Xenia Hotels & Resorts, Inc.                    | CUSIP: 984017103<br>LEI: 54930075IWIPHF5IQL62 | Short            | EC               | CORP              | US        |    -74526 | NS      | $-1105220.58  | -0.61%            |  |  |  | No            | 1                  | On Loan: No      |
| AMERICAN ASSETS TRUS                    | AMERICAN ASSETS TRUS - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     21483 | NS      | $-68094.18    | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| AH REALTY TRUST INC                     | AH REALTY TRUST INC - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     50621 | NS      | $-8541.00     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| AMERICAN HOMES 4 REN                    | AMERICAN HOMES 4 REN - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     13441 | NS      | $4878.42      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| AMERICAN TOWER CORP                     | AMERICAN TOWER CORP - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2168 | NS      | $-89593.56    | -0.05%            |  |  |  | No            | 2                  | On Loan: No      |
| ALEXANDRIA REAL ESTA                    | ALEXANDRIA REAL ESTA - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     38159 | NS      | $-680934.81   | -0.38%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                     | BBH Overnight Sweep                             | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | CORP              | US        |   4997734 | PA      | $4997733.50   | 2.77%             |  |  |  | No            | 1                  | On Loan: No      |
| BXP INC                                 | BXP INC - TRS                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     28152 | NS      | $3662.14      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| CBL & ASSOCIATES PRO                    | CBL & ASSOCIATES PRO - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      4949 | NS      | $-1630.28     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| COSTAR GROUP                            | COSTAR GROUP - TRS                              | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -43081 | NS      | $640990.03    | 0.36%             |  |  |  | No            | 2                  | On Loan: No      |
| CUSHMAN & WAKEFIELD                     | CUSHMAN & WAKEFIELD - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |    102733 | NS      | $-230035.00   | -0.13%            |  |  |  | No            | 2                  | On Loan: No      |
| HEALTHPEAK PROPERTIE                    | HEALTHPEAK PROPERTIE - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |    107049 | NS      | $-95375.47    | -0.05%            |  |  |  | No            | 2                  | On Loan: No      |
| EQUITY RESIDENTIAL                      | EQUITY RESIDENTIAL - TRS                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     26501 | NS      | $-111379.35   | -0.06%            |  |  |  | No            | 2                  | On Loan: No      |
| EMPIRE STATE REALTY                     | EMPIRE STATE REALTY - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -23120 | NS      | $37371.73     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| EXTRA SPACE STORAGE                     | EXTRA SPACE STORAGE - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     11047 | NS      | $-46219.45    | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| HOST HOTELS & RESORT                    | HOST HOTELS & RESORT - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     80318 | NS      | $88076.89     | 0.05%             |  |  |  | No            | 2                  | On Loan: No      |
| INNOVATIVE INDUSTRIA                    | INNOVATIVE INDUSTRIA - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     12096 | NS      | $-80844.11    | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| INDUSTRIAL LOGISTICS                    | INDUSTRIAL LOGISTICS - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     48452 | NS      | $-2863.17     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| INVENTRUST PPTYS COR                    | INVENTRUST PPTYS COR - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -59928 | NS      | $-109805.44   | -0.06%            |  |  |  | No            | 2                  | On Loan: No      |
| JONES LANG LASALLE I                    | JONES LANG LASALLE I - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      6217 | NS      | $124398.87    | 0.07%             |  |  |  | No            | 2                  | On Loan: No      |
| ST JOE CO/THE                           | ST JOE CO/THE - TRS                             | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -12499 | NS      | $18366.81     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| KIMCO REALTY CORP                       | KIMCO REALTY CORP - TRS                         | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     85853 | NS      | $125673.48    | 0.07%             |  |  |  | No            | 2                  | On Loan: No      |
| KILROY REALTY CORP                      | KILROY REALTY CORP - TRS                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     29115 | NS      | $-272236.89   | -0.15%            |  |  |  | No            | 2                  | On Loan: No      |
| KITE REALTY GROUP TR                    | KITE REALTY GROUP TR - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     43756 | NS      | $-10821.64    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| LINEAGE INC                             | LINEAGE INC - TRS                               | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     48892 | NS      | $-222356.93   | -0.12%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                     | Wells Fargo Margin Deposit                      | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | CORP              | US        |   1387653 | PA      | $1387653.17   | 0.77%             |  |  |  | No            | N/A                | On Loan: No      |
| NATL HEALTH INVESTOR                    | NATL HEALTH INVESTOR - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -22432 | NS      | $-34043.18    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| NEWMARK GROUP INC-CL                    | NEWMARK GROUP INC-CL - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -37404 | NS      | $-23100.69    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| NNN REIT INC                            | NNN REIT INC - TRS                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     19739 | NS      | $-11550.34    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| REALTY INCOME CORP                      | REALTY INCOME CORP - TRS                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     14936 | NS      | $17730.09     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| OPENDOOR TECHNOLOGIE                    | OPENDOOR TECHNOLOGIE - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |    370727 | NS      | $-130010.94   | -0.07%            |  |  |  | No            | 2                  | On Loan: No      |
| OUTFRONT MEDIA INC                      | OUTFRONT MEDIA INC - TRS                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     19756 | NS      | $192274.16    | 0.11%             |  |  |  | No            | 2                  | On Loan: No      |
| PARK HOTELS & RESORT                    | PARK HOTELS & RESORT - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     86853 | NS      | $-17969.01    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                     | MORGAN STANLEY & COMPANY MARGIN DEPOSIT ACCOUNT | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | CORP              | US        |  24967722 | PA      | $24967722.28  | 13.85%            |  |  |  | No            | N/A                | On Loan: No      |
| N/A                                     | MORGAN STANLEY & COMPANY MARGIN DEPOSIT ACCOUNT | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             | CORP              | US        |    -18623 | PA      | $-18622.82    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| REGENCY CENTERS CORP                    | REGENCY CENTERS CORP - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     11714 | NS      | $100417.66    | 0.06%             |  |  |  | No            | 2                  | On Loan: No      |
| SAFEHOLD INC                            | SAFEHOLD INC - TRS                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     19145 | NS      | $-53576.57    | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| SABRA HEALTH CARE RE                    | SABRA HEALTH CARE RE - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     40015 | NS      | $25829.23     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| SITE CENTERS CORP                       | SITE CENTERS CORP - TRS                         | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |    184535 | NS      | $-9202.11     | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| SIMON PROPERTY GROUP                    | SIMON PROPERTY GROUP - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      4899 | NS      | $147254.09    | 0.08%             |  |  |  | No            | 2                  | On Loan: No      |
| Urban Edge Prop                         | Urban Edge Prop - TRS                           | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -90373 | NS      | $-75898.50    | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| VICI PROPERTIES INC                     | VICI PROPERTIES INC - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     51795 | NS      | $-81403.96    | -0.05%            |  |  |  | No            | 2                  | On Loan: No      |
| VORNADO REALTY                          | VORNADO REALTY - TRS                            | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     71291 | NS      | $-416662.63   | -0.23%            |  |  |  | No            | 2                  | On Loan: No      |
| VENTAS INC                              | VENTAS INC - TRS                                | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      5320 | NS      | $8180.49      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                     | Wells Fargo Margin Deposit                      | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | CORP              | US        |   1626772 | PA      | $1626771.99   | 0.90%             |  |  |  | No            | N/A                | On Loan: No      |
| WP CAREY INC                            | WP CAREY INC - TRS                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     20413 | NS      | $162972.17    | 0.09%             |  |  |  | No            | 2                  | On Loan: No      |
| CHIRON REAL ESTATE I                    | CHIRON REAL ESTATE I - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     18434 | NS      | $3799.19      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2026-05-19

**Name of Applicant:** New Age Alpha Funds Trust

**Signature:** Keith D. Kemp

**Name of Signer:** Keith D. Kemp

**Title:** President