# EDGAR Filing Document

**Accession Number:** 0001592900
**File Stem:** 0001592900-25-001654
**Filing Date:** 2025-6
**Character Count:** 42387
**Document Hash:** f55b47b4b55bd3e0f5bb66dc79b57506
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001592900-25-001654.hdr.sgml**: 20250627

**ACCESSION NUMBER**: 0001592900-25-001654

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250627

**DATE AS OF CHANGE**: 20250627

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EA Series Trust
- **CENTRAL INDEX KEY:** 0001592900

**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:** 811-22961
- **FILM NUMBER:** 251084676

**BUSINESS ADDRESS:**
- **STREET 1:** 19 E EAGLE ROAD
- **CITY:** HAVERTOWN
- **STATE:** PA
- **ZIP:** 19083
- **BUSINESS PHONE:** 1.215.882.9983

**MAIL ADDRESS:**
- **STREET 1:** 19 E EAGLE ROAD
- **CITY:** HAVERTOWN
- **STATE:** PA
- **ZIP:** 19083

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Alpha Architect ETF Trust
- **DATE OF NAME CHANGE:** 20140428

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Empowered Funds ETF Trust
- **DATE OF NAME CHANGE:** 20131125

## Series and Classes Contracts Data

### Burney U.S. Factor Rotation ETF (Series ID: S000077503)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000237980 | Burney U.S. Factor Rotation ETF | BRNY            |

## Nport-Ex

---

| |
|:---|
| **BURNEY U.S. FACTOR ROTATION ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **April 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.7%** | **Shares** | **Value**  |
| **Aerospace & Defense - 5.4%** | |  |
| General Electric Co.  | 8904 | $1794512 |
| Howmet Aerospace, Inc.  | 125491 | 17390543 |
|  |  | 19185055 |
| **Air Freight & Logistics - 0.5%** |  |  |
| Expeditors International of Washington, Inc.  | 15388 | 1691295 |
| **Apparel Retail - 0.6%** |  |  |
| Urban Outfitters, Inc. <sup>(a)</sup> | 37900 | 2000362 |
| **Apparel, Accessories & Luxury Goods - 2.5%** |  |  |
| Lululemon Athletica, Inc. <sup>(a)</sup> | 18558 | 5024950 |
| Ralph Lauren Corp.  | 8372 | 1883281 |
| Tapestry, Inc.  | 30686 | 2167966 |
|  |  | 9076197 |
| **Application Software - 6.3%** |  |  |
| AppLovin Corp. - Class A <sup>(a)</sup> | 8958 | 2412479 |
| Autodesk, Inc. <sup>(a)</sup> | 61221 | 16789859 |
| Palantir Technologies, Inc. - Class A <sup>(a)</sup> | 27574 | 3265865 |
|  |  | 22468203 |
| **Asset Management & Custody Banks - 7.0%** |  |  |
| Bank of New York Mellon Corp.  | 83134 | 6684805 |
| Federated Hermes, Inc.  | 372718 | 15136078 |
| Northern Trust Corp.  | 17262 | 1622283 |
| State Street Corp.  | 19082 | 1681124 |
|  |  | 25124290 |
| **Biotechnology - 4.8%** |  |  |
| AbbVie, Inc.  | 4534 | 884583 |
| Exelixis, Inc. <sup>(a)</sup> | 319165 | 12495310 |
| Gilead Sciences, Inc.  | 9259 | 986454 |
| Protagonist Therapeutics, Inc. <sup>(a)</sup> | 19875 | 910673 |
| PTC Therapeutics, Inc. <sup>(a)</sup> | 40143 | 2000727 |
|  |  | 17277747 |
| **Broadcasting - 3.0%** |  |  |
| Fox Corp. - Class A  | 216775 | 10793227 |

---

------

---

| |
|:---|
| **BURNEY U.S. FACTOR ROTATION ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **April 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.7% (CONTINUED)** | **Shares** | **Value**  |
| **Building Products - 0.3%** | |  |
| Trane Technologies PLC  | 3119 | $1195544 |
| **Communications Equipment - 2.8%** |  |  |
| Arista Networks, Inc. <sup>(a)</sup> | 57145 | 4701319 |
| Cisco Systems, Inc.  | 61641 | 3558535 |
| Motorola Solutions, Inc.  | 4262 | 1876942 |
|  |  | 10136796 |
| **Construction & Engineering - 0.7%** |  |  |
| EMCOR Group, Inc.  | 5872 | 2352910 |
| **Construction Machinery & Heavy Transportation Equipment - 0.5%** |  |  |
| Allison Transmission Holdings, Inc.  | 17827 | 1644362 |
| **Consumer Finance - 0.7%** |  |  |
| Synchrony Financial  | 50439 | 2620306 |
| <br>**Data Processing & Outsourced Services - 2.4%** |  |  |
| Genpact Ltd.  | 168742 | 8480973 |
| **Diversified Banks - 4.7%** |  |  |
| JPMorgan Chase & Co.  | 52762 | 12906640 |
| Wells Fargo & Co.  | 53197 | 3777519 |
|  |  | 16684159 |
| **Education Services - 1.5%** |  |  |
| Stride, Inc. <sup>(a)</sup> | 38147 | 5426411 |
| **Electric Utilities - 0.9%** |  |  |
| Exelon Corp.  | 47870 | 2245103 |
| Portland General Electric Co.  | 20626 | 868767 |
|  |  | 3113870 |
| **Electronic Components - 3.9%** |  |  |
| Amphenol Corp. - Class A  | 179785 | 13834456 |
| **Environmental & Facilities Services - 0.6%** |  |  |
| Waste Management, Inc.  | 9159 | 2137344 |
| **Financial Exchanges & Data - 2.9%** |  |  |
| Cboe Global Markets, Inc.  | 7327 | 1625129 |

---

------

---

| |
|:---|
| **BURNEY U.S. FACTOR ROTATION ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **April 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.7% (CONTINUED)** | **Shares** | **Value**  |
| **Financial Exchanges & Data - 2.9% (Continued)** | | |
| Moody's Corp.  | 19558 | $8862121 |
|  |  | 10487250 |
| **Food Retail - 0.3%** |  |  |
| Sprouts Farmers Market, Inc. <sup>(a)</sup> | 6330 | 1082430 |
| **Gas Utilities - 0.3%** |  |  |
| UGI Corp.  | 31613 | 1036590 |
| **Health Care Distributors - 2.5%** |  |  |
| Cardinal Health, Inc.  | 12558 | 1774320 |
| Cencora, Inc.  | 7438 | 2176879 |
| McKesson Corp.  | 6910 | 4925379 |
|  |  | 8876578 |
| **Health Care Services - 1.0%** |  |  |
| CVS Health Corp.  | 51303 | 3422423 |
| **Health Care Technology - 0.7%** |  |  |
| Doximity, Inc. - Class A <sup>(a)</sup> | 43234 | 2459150 |
| **Homefurnishing Retail - 1.6%** |  |  |
| Williams-Sonoma, Inc.  | 38259 | 5909868 |
| **Industrial Gases - 0.2%** |  |  |
| Linde PLC  | 1950 | 883799 |
| **Insurance Brokers - 0.5%** |  |  |
| Brown & Brown, Inc.  | 16215 | 1793379 |
| **Interactive Media & Services - 3.9%** |  |  |
| Alphabet, Inc. - Class A  | 44867 | 7124880 |
| Meta Platforms, Inc. - Class A  | 12519 | 6872931 |
|  |  | 13997811 |
| **Investment Banking & Brokerage - 1.6%** |  |  |
| Charles Schwab Corp.  | 22970 | 1869758 |
| Morgan Stanley  | 14779 | 1705792 |
| <br>Virtu Financial, Inc. - Class A  | 52512 | 2055845 |
|  |  | 5631395 |

---

------

---

| |
|:---|
| **BURNEY U.S. FACTOR ROTATION ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **April 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.7% (CONTINUED)** | **Shares** | **Value**  |
| **IT Consulting & Other Services - 0.4%** | |  |
| Accenture PLC - Class A  | 5106 | $1527460 |
| **Life & Health Insurance - 1.0%** |  |  |
| Manulife Financial Corp.  | 60189 | 1842987 |
| Primerica, Inc.  | 6320 | 1656283 |
|  |  | 3499270 |
| **Managed Health Care - 4.1%** |  |  |
| Centene Corp. <sup>(a)</sup> | 220029 | 13168736 |
| Elevance Health, Inc.  | 3801 | 1598624 |
|  |  | 14767360 |
| **Oil & Gas Exploration & Production - 0.5%** |  |  |
| EQT Corp.  | 39663 | 1960939 |
| **Oil & Gas Storage & Transportation - 0.5%** |  |  |
| Kinder Morgan, Inc.  | 70939 | 1865696 |
| **Other Specialty Retail - 0.3%** |  |  |
| Ulta Beauty, Inc. <sup>(a)</sup> | 2456 | 971692 |
| **Packaged Foods & Meats - 1.9%** |  |  |
| Cal-Maine Foods, Inc.  | 71039 | 6632911 |
| **Passenger Ground Transportation - 0.6%** |  |  |
| Uber Technologies, Inc. <sup>(a)</sup> | 25685 | 2080742 |
| **Personal Care Products - 0.8%** |  |  |
| BellRing Brands, Inc. <sup>(a)</sup> | 37694 | 2907715 |
| **Pharmaceuticals - 0.5%** |  |  |
| Supernus Pharmaceuticals, Inc. <sup>(a)</sup> | 52279 | 1698022 |
| **Property & Casualty Insurance - 1.1%** |  |  |
| Chubb Ltd.  | 6529 | 1867816 |
| Travelers Cos., Inc.  | 7582 | 2002634 |
|  |  | 3870450 |
| **Research & Consulting Services - 0.8%** |  |  |
| Leidos Holdings, Inc.  | 19420 | 2858236 |

---

------

---

| |
|:---|
| **BURNEY U.S. FACTOR ROTATION ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **April 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.7% (CONTINUED)** | **Shares** | **Value**  |
| **Restaurants - 1.5%** | |  |
| Darden Restaurants, Inc.  | 8406 | $1686580 |
| Dutch Bros, Inc. - Class A <sup>(a)</sup> | 35869 | 2142814 |
| Yum! Brands, Inc.  | 10562 | 1588947 |
|  |  | 5418341 |
| **Semiconductor Materials & Equipment - 4.3%** |  |  |
| KLA Corp.  | 19600 | 13772724 |
| Lam Research Corp.  | 23038 | 1651133 |
|  |  | 15423857 |
| **Semiconductors - 10.3%** |  |  |
| Broadcom, Inc.  | 8007 | 1541107 |
| NVIDIA Corp.  | 172790 | 18820287 |
| QUALCOMM, Inc.  | 112307 | 16673097 |
|  |  | 37034491 |
| <br>**Specialty Chemicals - 0.7%** |  |  |
| NewMarket Corp.  | 4344 | 2672863 |
| **Systems Software - 3.8%** |  |  |
| Fortinet, Inc. <sup>(a)</sup> | 113340 | 11760158 |
| Palo Alto Networks, Inc. <sup>(a)</sup> | 10177 | 1902387 |
|  |  | 13662545 |
| **TOTAL COMMON STOCKS** (Cost $328,561,318) |  | 349676770 |
| **REAL ESTATE INVESTMENT TRUSTS - 1.8%** |  |  |
| **Health Care REITs - 1.3%** |  |  |
| Omega Healthcare Investors, Inc.  | 122849 | 4797253 |
| **Other Specialized REITs - 0.5%** |  |  |
| Lamar Advertising Co. - Class A  | 14285 | 1625776 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS -** (Cost $6,378,861) |  | 6423029 |
| **SHORT-TERM INVESTMENTS - 0.3%** |  |  |
| **Money Market Funds - 0.3%** |  |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(b)</sup> | 1207141 | 1207141 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $1,207,141) |  | 1207141 |
| **TOTAL INVESTMENTS - 99.8% (**Cost $336,147,320**)** |  | $357306940 |
| Other Assets in Excess of Liabilities - 0.2%  |  | 664391 |
| **TOTAL NET ASSETS - 100.0%** |  | $357971331 |

---

------

---

| |
|:---|
| **BURNEY U.S. FACTOR ROTATION ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **April 30, 2025 (Unaudited)** |

---

Percentages are stated as a percent of net assets.

PLC - Public Limited Company <br> REIT - Real Estate Investment Trust

(a) <br> Non-income producing security.

(b) <br> The rate shown represents the 7-day annualized effective yield as of April 30, 2025.

The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

------

**BURNEY U.S. FACTOR ROTATION ETF**

**Summary of Fair Value Disclosures as of April 30, 2025 (Unaudited)**

Burney U.S. Factor Rotation ETF (the "Fund") has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of April 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **DESCRIPTION** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** | **TOTAL** |
| **<u>Assets</u>** | | | | |
| Common Stocks | $349676770 | $— | $— | $349676770 |
| Real Estate Investment Trusts | 6423029 |  |  | 6423029 |
| Money Market Funds | 1207141 |  |  | 1207141 |
| **Total Investments** | $357306940 | $— | $— | $357306940 |

---

Refer to the Schedule of Investments for further disaggregation of investment categories.

During the fiscal period ended April 30, 2025, the Fund did not invest in any Level 3 investments and recognized no transfers to/from Level 3. Transfers between levels are recognized at the end of the reporting period.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-22961

- **c. CIK number of Registrant:** 0001592900

- **d. LEI of Registrant:** 5493004OW9VWINAYRX18

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

  - **Street Address 1:** 19 E Eagle Road

  - **City:** Havertown

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** PA

  - **Telephone number:** 2158829983

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

- **a. Name of Series:** Burney U.S. Factor Rotation ETF

- **b. EDGAR series identifier (if any):** S000077503

- **c. LEI of Series:** 549300OVYLBRTNVYRC53

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

- **a. Date of fiscal year-end:** 2025-07-31

- **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:** $334015779.59

**Total Liabilities:** $204469.62

**Net Assets:** $333811309.97

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000237980 | -2.63%               | -5.11%               | 0.92%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-6335751.38             | $-2186969.19                               |
| Month 2  | $15389.02                | $-17053769.01                              |
| Month 3  | $-5301555.98             | $7540635.40                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Arista Networks Inc                        | Arista Networks Inc                        | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     53305 | NS      | $4385402.35   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                               | QUALCOMM Inc                               | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |    104747 | NS      | $15550739.62  | 4.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc                        | Gilead Sciences Inc                        | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      8659 | NS      | $922529.86    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health Inc                        | Cardinal Health Inc                        | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |     11718 | NS      | $1655636.22   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO.                       | JPMORGAN CHASE & CO.                       | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     49222 | NS      | $12040685.64  | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp                              | McKesson Corp                              | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      6490 | NS      | $4626007.10   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Moody's Corp                               | Moody's Corp                               | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |     18238 | NS      | $8264002.56   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams-Sonoma Inc                        | Williams-Sonoma Inc                        | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |     35679 | NS      | $5511335.13   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp                                | Exelon Corp                                | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |     44690 | NS      | $2095961.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                                | Cencora Inc                                | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      6958 | NS      | $2036397.86   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                         | Meta Platforms Inc                         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     11679 | NS      | $6411771.00   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Cal-Maine Foods Inc                        | Cal-Maine Foods Inc                        | CUSIP: 128030202<br>LEI: 549300NHE5WMIEIEMF53 | Long             | EC               | CORP              | US        |     66299 | NS      | $6190337.63   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc                  | Palantir Technologies Inc                  | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     25714 | NS      | $3045566.16   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets Inc                    | Cboe Global Markets Inc                    | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |      6847 | NS      | $1518664.60   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Stride Inc                                 | Stride Inc                                 | CUSIP: 86333M108<br>LEI: 254900BRWS3AFONWU277 | Long             | EC               | CORP              | US        |     35627 | NS      | $5067940.75   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Therapeutics Inc                       | PTC Therapeutics Inc                       | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |     37443 | NS      | $1866159.12   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Lululemon Athletica Inc                    | Lululemon Athletica Inc                    | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | US        |     17358 | NS      | $4700025.66   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Primerica Inc                              | Primerica Inc                              | CUSIP: 74164M108<br>LEI: 254900621R686KJR7022 | Long             | EC               | CORP              | US        |      5900 | NS      | $1546213.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc                     | Palo Alto Networks Inc                     | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      9517 | NS      | $1779012.81   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan Inc                          | Kinder Morgan Inc                          | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |     66199 | NS      | $1741033.70   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprouts Farmers Market Inc                 | Sprouts Farmers Market Inc                 | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |      5910 | NS      | $1010610.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Trust Corp                        | Northern Trust Corp                        | CUSIP: 665859104<br>LEI: 549300GLF98S992BC502 | Long             | EC               | CORP              | US        |     16122 | NS      | $1515145.56   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Outfitters Inc                       | Urban Outfitters Inc                       | CUSIP: 917047102<br>LEI: 549300N3DUFR5U6NRN38 | Long             | EC               | CORP              | US        |     35380 | NS      | $1867356.40   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                             | Morgan Stanley                             | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |     13819 | NS      | $1594988.98   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk Inc                               | Autodesk Inc                               | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |     57141 | NS      | $15670919.25  | 4.69%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA CORP                                   | KLA CORP                                   | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |     18280 | NS      | $12845173.20  | 3.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp                          | Lam Research Corp                          | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     21538 | NS      | $1543628.46   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Hermes Inc                       | Federated Hermes Inc                       | CUSIP: 314211103<br>LEI: R05X5UQ874RGFF7HHD84 | Long             | EC               | CORP              | US        |    347578 | NS      | $14115142.58  | 4.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Supernus Pharmaceuticals Inc               | Supernus Pharmaceuticals Inc               | CUSIP: 868459108<br>LEI: 549300GRM36VBKISYJ58 | Long             | EC               | CORP              | US        |     48799 | NS      | $1584991.52   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions Inc                     | Motorola Solutions Inc                     | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |      4022 | NS      | $1771248.58   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis Inc                               | Exelixis Inc                               | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |    297625 | NS      | $11652018.75  | 3.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Allison Transmission Holdings Inc          | Allison Transmission Holdings Inc          | CUSIP: 01973R101<br>LEI: 529900RP7DJ882LI9T83 | Long             | EC               | CORP              | US        |     16627 | NS      | $1533674.48   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Ralph Lauren Corp                          | Ralph Lauren Corp                          | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |      7832 | NS      | $1761808.40   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/The                    | Charles Schwab Corp/The                    | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |     21470 | NS      | $1747658.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI Corp                                   | UGI Corp                                   | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |     29513 | NS      | $967731.27    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                           | Wells Fargo & Co                           | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     49657 | NS      | $3526143.57   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown & Brown Inc                          | Brown & Brown Inc                          | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |     15135 | NS      | $1673931.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Management Inc                       | Waste Management Inc                       | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |      8559 | NS      | $1997328.24   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Tapestry Inc                               | Tapestry Inc                               | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |     28646 | NS      | $2023839.90   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Leidos Holdings Inc                        | Leidos Holdings Inc                        | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |     18160 | NS      | $2672788.80   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc                          | Cisco Systems Inc                          | CUSIP: 17275R102<br>LEI: 8E6NF1YAL0WT6CWXXV93 | Long             | EC               | CORP              | US        |     57501 | NS      | $3319532.73   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                            | CVS Health Corp                            | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     47883 | NS      | $3194274.93   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc             | Omega Healthcare Investors Inc             | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | RE               | RF                | US        |    114569 | NS      | $4473919.45   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co                       | Lamar Advertising Co                       | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | RE               | RF                | US        |     13325 | NS      | $1516518.25   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obligations Fund | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   1204408 | PA      | $1204407.58   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp                          | State Street Corp                          | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |     17822 | NS      | $1570118.20   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co                        | General Electric Co                        | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |      8304 | NS      | $1673588.16   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Cos Inc/The                      | Travelers Cos Inc/The                      | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |      7102 | NS      | $1875851.26   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| NewMarket Corp                             | NewMarket Corp                             | CUSIP: 651587107<br>LEI: 54930082CG88ERDREQ47 | Long             | EC               | CORP              | US        |      4104 | NS      | $2525191.20   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Expeditors International of Washington Inc | Expeditors International of Washington Inc | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |     14368 | NS      | $1579186.88   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corp                                   | EQT Corp                                   | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |     37023 | NS      | $1830417.12   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Yum! Brands Inc                            | Yum! Brands Inc                            | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |      9902 | NS      | $1489656.88   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                                  | Linde PLC                                  | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | IE        |      1830 | NS      | $829410.90    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp                               | Centene Corp                               | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |    205209 | NS      | $12281758.65  | 3.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of New York Mellon Corp/The           | Bank of New York Mellon Corp/The           | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |     77554 | NS      | $6236117.14   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Co               | Portland General Electric Co               | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |     19246 | NS      | $810641.52    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                               | Fortinet Inc                               | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |    105720 | NS      | $10969507.20  | 3.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ELEVANCE HEALTH INC                        | ELEVANCE HEALTH INC                        | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |      3561 | NS      | $1497685.38   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group Inc                            | EMCOR Group Inc                            | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      5512 | NS      | $2208658.40   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Darden Restaurants Inc                     | Darden Restaurants Inc                     | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |      7866 | NS      | $1578234.24   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                                | NVIDIA Corp                                | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    161150 | NS      | $17552458.00  | 5.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                              | Amphenol Corp                              | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |    167665 | NS      | $12901821.75  | 3.87%             |  |  |  | No            |                  1 | On Loan: No      |
| ULTA BEAUTY INC                            | ULTA BEAUTY INC                            | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |      2336 | NS      | $924215.04    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                                 | AbbVie Inc                                 | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      4234 | NS      | $826053.40    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Doximity Inc                               | Doximity Inc                               | CUSIP: 26622P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40354 | NS      | $2295335.52   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc                      | Uber Technologies Inc                      | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     24005 | NS      | $1944645.05   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Protagonist Therapeutics Inc               | Protagonist Therapeutics Inc               | CUSIP: 74366E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18555 | NS      | $850190.10    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtu Financial Inc                        | Virtu Financial Inc                        | CUSIP: 928254101<br>LEI: 5493001OPW2K42CH3884 | Long             | EC               | CORP              | US        |     48972 | NS      | $1917253.80   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financial                        | Synchrony Financial                        | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |     47079 | NS      | $2445754.05   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp                              | AppLovin Corp                              | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      8358 | NS      | $2250892.98   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                               | Alphabet Inc                               | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     41867 | NS      | $6648479.60   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc                       | Howmet Aerospace Inc                       | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |    117031 | NS      | $16218155.98  | 4.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corp                                   | Fox Corp                                   | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |    202195 | NS      | $10067289.05  | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                               | Broadcom Inc                               | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      7467 | NS      | $1437173.49   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Dutch Bros Inc                             | Dutch Bros Inc                             | CUSIP: 26701L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33469 | NS      | $1999438.06   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| BellRing Brands Inc                        | BellRing Brands Inc                        | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |     35174 | NS      | $2713322.36   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC                     | Trane Technologies PLC                     | CUSIP: N/A<br>LEI: 549300BURLR9SLYY2705       | Long             | EC               | CORP              | IE        |      2939 | NS      | $1126548.09   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd                                  | Chubb Ltd                                  | CUSIP: N/A<br>LEI: E0JAN6VLUDI1HITHT809       | Long             | EC               | CORP              | CH        |      6109 | NS      | $1747662.72   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Manulife Financial Corp                    | Manulife Financial Corp                    | CUSIP: 56501R106<br>LEI: 5493007GBX87QOZACS27 | Long             | EC               | CORP              | CA        |     56169 | NS      | $1719894.78   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                              | Accenture PLC                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IE        |      4806 | NS      | $1437714.90   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Genpact Ltd                                | Genpact Ltd                                | CUSIP: N/A<br>LEI: 529900OSEC6Q0L4L5B35       | Long             | EC               | CORP              | BM        |    157402 | NS      | $7911024.52   | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-04-30

**Name of Applicant:** EA Series Trust

**Signature:** /s/ Jessica Leighty

**Name of Signer:** Jessica Leighty

**Title:** Chief Compliance Officer