# EDGAR Filing Document

**Accession Number:** 0001592900
**File Stem:** 0001592900-26-001043
**Filing Date:** 2026-2
**Character Count:** 34268
**Document Hash:** 5a652fa841c4f46f3d208ba808603b67
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001592900-26-001043.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001592900-26-001043

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20260930

**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:** 26696701

**BUSINESS ADDRESS:**
- **STREET 1:** 3803 WEST CHESTER PIKE, SUITE 150
- **CITY:** NEWTOWN SQUARE
- **STATE:** PA
- **ZIP:** 19073
- **BUSINESS PHONE:** 1.215.882.9983

**MAIL ADDRESS:**
- **STREET 1:** 3803 WEST CHESTER PIKE, SUITE 150
- **CITY:** NEWTOWN SQUARE
- **STATE:** PA
- **ZIP:** 19073

**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

### Gadsden Dynamic Multi-Asset ETF (Series ID: S000069668)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000222207 | Gadsden Dynamic Multi-Asset ETF | GDMA            |

## Nport-Ex

---

| |
|:---|
| **GADSDEN DYNAMIC MULTI-ASSET ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **December 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value**  |
| **EXCHANGE TRADED FUNDS - 77.8%** | | |
| Alpha Architect 1-3 Month Box ETF <sup>(a)(b)(c)</sup> | 183995 | $21177825 |
| Franklin FTSE Japan ETF <sup>(b)</sup> | 454652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15662761 |
| Franklin FTSE South Korea ETF  | 159254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5104091 |
| Global X Copper Miners ETF  | 48282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3466165 |
| Global X MSCI Colombia ETF  | 75443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2688789 |
| GraniteShares Bloomberg Commodity Broad Strategy no K-1 ETF <sup>(b)</sup> | 107634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2272154 |
| Invesco CurrencyShares Euro Currency Trust <sup>(b)</sup> | 75872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8228698 |
| iShares MSCI Europe Financials ETF  | 185281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6872072 |
| iShares MSCI Germany ETF <sup>(b)</sup> | 116576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4954480 |
| iShares MSCI Hong Kong ETF  | 50569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1074591 |
| iShares MSCI Peru and Global Exposure ETF <sup>(b)</sup> | 48823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3532344 |
| iShares MSCI Poland ETF <sup>(b)</sup> | 97275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3423107 |
| iShares MSCI South Africa ETF <sup>(b)</sup> | 60781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4181733 |
| iShares MSCI South Korea ETF <sup>(b)</sup> | 52814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5134577 |
| SPDR Bloomberg Short Term International Treasury Bond ETF  | 149268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4091436 |
| SPDR Gold MiniShares Trust <sup>(a)</sup> | 146752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12528218 |
| State Street Industrial Select Sector SPDR ETF <sup>(b)</sup> | 10516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1631242 |
| State Street SPDR S&P Aerospace & Defense ETF  | 6992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1686750 |
| State Street SPDR S&P Bank ETF <sup>(b)</sup> | 104833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6362315 |
| State Street SPDR S&P Biotech ETF <sup>(b)</sup> | 26736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3259920 |
| State Street SPDR S&P Health Care Equipment ETF <sup>(b)</sup> | 18286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1613374 |
| United States Copper Index Fund <sup>(a)(b)</sup> | 99869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3491420 |
| VanEck J. P. Morgan EM Local Currency Bond ETF  | 158709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4097866 |
| **TOTAL EXCHANGE TRADED FUNDS** (Cost $124,138,315) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 126535928 |
| **COMMON STOCKS - 18.2%**  |  |  |
| **<u>Communication Services</u> - 5.1%**  |  |  |
| **Interactive Media & Services - 5.1%** |  |  |
| Alphabet, Inc. - Class C  | 7898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2478393 |
| Baidu, Inc. - ADR <sup>(a)(b)</sup> | 19552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2554664 |
| Tencent Holdings Ltd. - ADR  | 42002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3215253 |
| **Total Communication Services** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8248310 |
| **<u>Consumer Discretionary</u> - 1.4%**  |  |  |
| **Broadline Retail - 1.4%** |  |  |
| Alibaba Group Holding Ltd. - ADR <sup>(b)</sup> | 15862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2325052 |
| **<u>Energy</u> - 6.7%** |  |  |
| **Integrated Oil & Gas - 1.5%** |  |  |
| Exxon Mobil Corp.  | 10324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1242390 |
| Suncor Energy, Inc. <sup>(b)</sup> | 27798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1233120 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2475510 |

---

------

---

| |
|:---|
| **GADSDEN DYNAMIC MULTI-ASSET ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **December 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value**  |
| **Oil & Gas Equipment & Services - 3.0%** | | |
| Halliburton Co.  | 85959 | $2429201 |
| SLB Ltd.  | 62300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2391074 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4820275 |
| **Oil & Gas Exploration & Production - 1.5%** |  |  |
| ConocoPhillips  | 12759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1194370 |
| EQT Corp.  | 22134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1186382 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2380752 |
| **Oil & Gas Storage & Transportation - 0.7%** |  |  |
| Williams Cos., Inc.  | 20545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1234960 |
| **Total Energy** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10911497 |
| **<u>Financials</u> - 1.0%**  |  |  |
| **Diversified Banks - 1.0%** |  |  |
| HDFC Bank Ltd. - ADR  | 45639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1667649 |
| **<u>Health Care</u> - 1.2%**  |  |  |
| **Biotechnology - 1.2%** |  |  |
| Natera, Inc. <sup>(a)(b)</sup> | 8133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1863189 |
| **<u>Information Technology</u> - 1.0%**  |  |  |
| **IT Consulting & Other Services - 1.0%** |  |  |
| Accenture PLC - Class A  | 6043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1621337 |
| **<u>Materials</u> - 1.8%**  |  |  |
| **Construction Materials - 0.5%** |  |  |
| CRH PLC  | 6479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 808580 |
| **Copper - 0.8%** |  |  |
| Freeport-McMoRan, Inc.  | 25828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1311804 |
| **Paper & Plastic Packaging Products & Materials - 0.5%** |  |  |
| Smurfit WestRock PLC  | 21821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 843818 |
| **Total Materials** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2964202 |
| **TOTAL COMMON STOCKS** (Cost $27,714,327) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29601236 |
| **SHORT-TERM INVESTMENTS** |  |  |
| **INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 33.3%**  | **Units** |  |
| Mount Vernon Liquid Assets Portfolio, LLC, 3.86% <sup>(d)</sup> | 54091660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54091660 |
| **TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING** (Cost $54,091,660) | **TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING** (Cost $54,091,660) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54091660 |

---

------

---

| |
|:---|
| **GADSDEN DYNAMIC MULTI-ASSET ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **December 31, 2025 (Unaudited)** |

---

---

| | | | |
|:---|:---|:---|:---|
| | **Shares** |  | **Value**  |
| **MONEY MARKET FUNDS - 0.6%**  | | | |
| First American Government Obligations Fund - Class X, 3.67% <sup>(d)</sup> | 993916 |  | $993916 |
| **TOTAL MONEY MARKET FUNDS** (Cost $993,916) |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 993916 |
| **TOTAL INVESTMENTS - 129.9% (**Cost $206,938,218**)** |  |  | $211222740 |
| Liabilities in Excess of Other Assets - (29.9)%  |  | (0.29895) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48611749) |
| **TOTAL NET ASSETS - 100.0%** |  |  | $162610991 |

---

Percentages are stated as a percent of net assets.

---

| |
|:---|
| ADR - American Depositary Receipt |
| LLC - Limited Liability Company |
| PLC - Public Limited Company |

---

(a) Non-income producing security.

(b) All or a portion of this security is on loan as of December 31, 2025. The fair value of these securities was $52,615,305.

(c) Affiliated security as defined by the Investment Company Act of 1940.

(d) The rate shown represents the 7-day annualized yield as of December 31, 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.

------

**GADSDEN DYNAMIC MULTI-ASSET ETF**

**Summary of Fair Value Disclosure as of December 31, 2025 (Unaudited)**

Gadsden Dynamic Multi-Asset ETF (the "Fund") has adopted fair value accounting standards which establish a 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 valuation 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 based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of December 31, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **DESCRIPTION** | **INVESTMENTS MEASURED AT NET ASSET VALUE** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** | **TOTAL** |
| **<u>Investments</u>** | | | | | |
| &nbsp;&nbsp;Exchange Traded Funds | $— | $126535928 | $— | $— | $126535928 |
| &nbsp;&nbsp;Common Stocks |  | 29601236 |  |  | 29601236 |
| &nbsp;&nbsp;Investment Purchased with Proceeds from Securities Lending | 54091660 |  |  |  | 54091660 |
| &nbsp;&nbsp;Money Market Funds |  | 993916 |  |  | 993916 |
| **Total Investments** | $54091660 | $157131080 | $— | $— | $211222740 |

---

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

(a) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amount of $54,091,660 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.

During the fiscal period ended December 31, 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.

**Transactions With Affiliates**

The Fund transactions with affiliates represent holdings for which it and the underlying exchange-traded funds have the same investment adviser. The Fund had the following transactions with such affiliated funds during the fiscal period ended December 31, 2025:

---

| | |
|:---|:---|
| | **Alpha Architect 1-3 Month Box ETF** |
| Value as of September 30, 2025 | $— |
| Additions | 74035941 |
| Reductions | (53025370) |

---

------

**GADSDEN DYNAMIC MULTI-ASSET ETF**

---

| | |
|:---|:---|
| | **Alpha Architect 1-3 Month Box ETF** |
| Realized Gain (Loss) | 131176 |
| Net Change in Unrealized Appreciation (Depreciation) | 36078 |
| Value as of December 31, 2025 | $21177825 |
| Income | $— |
| Capital Gains Distributions from Underlying Funds | $— |
| Shares as of December 31, 2025 | 183995 |

---

## 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:** 3803 West Chester Pike

  - **City:** Newtown Square

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19073

  - **Telephone number:** 2158829983

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

- **a. Name of Series:** Gadsden Dynamic Multi-Asset ETF

- **b. EDGAR series identifier (if any):** S000069668

- **c. LEI of Series:** 549300073VNCYFOG1J04

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

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

- **b. Date as of which information is reported:** 2025-12-31

**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:** $250244933.07

**Total Liabilities:** $71835724.81

**Net Assets:** $178409208.26

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000222207 | 1.59%                | -1.01%               | 2.29%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5879902.04              | $-13315990.06                              |
| Month 2  | $-1380194.57             | $-290689.17                                |
| Month 3  | $1358670.94              | $108038.47                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SPDR Bloomberg Short Term International Treasury Bond ETF   | SPDR Bloomberg Short Term International Treasury Bond ETF   | CUSIP: 78464A334<br>LEI: N/A                  | Long             | EC               | RF                | US        |    163740 | NS      | $4488113.40   | 2.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Invesco CurrencyShares Euro Currency Trust                  | Invesco CurrencyShares Euro Currency Trust                  | CUSIP: 46138K103<br>LEI: N/A                  | Long             | EC               | RF                | US        |     83210 | NS      | $9024540.55   | 5.06%             |  |  |  | No            | 1                  | On Loan: —       |
| State Street SPDR S&P Bank ETF                              | State Street SPDR S&P Bank ETF                              | CUSIP: 78464A797<br>LEI: 549300WRV3OCU6OV1X49 | Long             | EC               | RF                | US        |    115001 | NS      | $6979410.69   | 3.91%             |  |  |  | No            | 1                  | On Loan: —       |
| iShares MSCI Peru and Global Exposure ETF                   | iShares MSCI Peru and Global Exposure ETF                   | CUSIP: 464289842<br>LEI: N/A                  | Long             | EC               | RF                | US        |     53537 | NS      | $3873401.95   | 2.17%             |  |  |  | No            | 1                  | On Loan: —       |
| State Street SPDR S&P Biotech ETF                           | State Street SPDR S&P Biotech ETF                           | CUSIP: 78464A870<br>LEI: N/A                  | Long             | EC               | RF                | US        |     29319 | NS      | $3574865.67   | 2.00%             |  |  |  | No            | 1                  | On Loan: —       |
| abrdn Physical Silver Shares ETF                            | abrdn Physical Silver Shares ETF                            | CUSIP: 003264108<br>LEI: 5493000YXSZBKTIMZK40 | Long             | EC               | RF                | US        |     92442 | NS      | $6252776.88   | 3.50%             |  |  |  | No            | 1                  | On Loan: No      |
| ISHARES INC MSCI SOUTH AFRICA                               | ISHARES INC MSCI SOUTH AFRICA                               | CUSIP: 464286780<br>LEI: N/A                  | Long             | EC               | RF                | US        |     66685 | NS      | $4587928.00   | 2.57%             |  |  |  | No            | 1                  | On Loan: —       |
| abrdn Physical Platinum Shares ETF                          | abrdn Physical Platinum Shares ETF                          | CUSIP: 003260106<br>LEI: 5493001S1GI0VA48N983 | Long             | EC               | RF                | US        |     11382 | NS      | $2121946.26   | 1.19%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares MSCI Europe Financials ETF                          | iShares MSCI Europe Financials ETF                          | CUSIP: 464289180<br>LEI: N/A                  | Long             | EC               | RF                | US        |    203280 | NS      | $7539655.20   | 4.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Global X Copper Miners ETF                                  | Global X Copper Miners ETF                                  | CUSIP: 37954Y830<br>LEI: N/A                  | Long             | EC               | RF                | US        |     52956 | NS      | $3801711.24   | 2.13%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares MSCI Poland ETF                                     | iShares MSCI Poland ETF                                     | CUSIP: 46429B606<br>LEI: N/A                  | Long             | EC               | RF                | US        |    106704 | NS      | $3754913.76   | 2.10%             |  |  |  | No            | 1                  | On Loan: —       |
| State Street SPDR S&P Health Care Equipment ETF             | State Street SPDR S&P Health Care Equipment ETF             | CUSIP: 78464A581<br>LEI: N/A                  | Long             | EC               | RF                | US        |     20049 | NS      | $1768923.27   | 0.99%             |  |  |  | No            | 1                  | On Loan: —       |
| State Street SPDR S&P Aerospace & Defense ETF               | State Street SPDR S&P Aerospace & Defense ETF               | CUSIP: 78464A631<br>LEI: N/A                  | Long             | EC               | RF                | US        |      7647 | NS      | $1844762.28   | 1.03%             |  |  |  | No            | 1                  | On Loan: No      |
| United States Copper Index Fund                             | United States Copper Index Fund                             | CUSIP: 911718104<br>LEI: 54930051JW65R2UMMD48 | Long             | EC               | RF                | US        |    109544 | NS      | $3829658.24   | 2.15%             |  |  |  | No            | 1                  | On Loan: —       |
| iShares MSCI Global Gold Miners ETF                         | iShares MSCI Global Gold Miners ETF                         | CUSIP: 46434G855<br>LEI: N/A                  | Long             | EC               | RF                | US        |     74692 | NS      | $5500318.88   | 3.08%             |  |  |  | No            | 1                  | On Loan: No      |
| GraniteShares Bloomberg Commodity Broad Strategy no K-1 ETF | GraniteShares Bloomberg Commodity Broad Strategy no K-1 ETF | CUSIP: 38747R108<br>LEI: 549300TM9TYJ47SK6836 | Long             | EC               | RF                | US        |    118089 | NS      | $2492858.79   | 1.40%             |  |  |  | No            | 1                  | On Loan: —       |
| Franklin FTSE Japan ETF                                     | Franklin FTSE Japan ETF                                     | CUSIP: 35473P744<br>LEI: N/A                  | Long             | EC               | RF                | US        |    498809 | NS      | $17183970.05  | 9.63%             |  |  |  | No            | 1                  | On Loan: —       |
| Franklin FTSE South Korea ETF                               | Franklin FTSE South Korea ETF                               | CUSIP: 35473P710<br>LEI: N/A                  | Long             | EC               | RF                | US        |    174711 | NS      | $5599487.55   | 3.14%             |  |  |  | No            | 1                  | On Loan: No      |
| SPDR Gold MiniShares Trust                                  | SPDR Gold MiniShares Trust                                  | CUSIP: 98149E303<br>LEI: N/A                  | Long             | EC               | RF                | US        |    160978 | NS      | $13742691.86  | 7.70%             |  |  |  | No            | 1                  | On Loan: No      |
| Alpha Architect 1-3 Month Box ETF                           | Alpha Architect 1-3 Month Box ETF                           | CUSIP: 02072L565<br>LEI: 549300AINK03GE0FNT25 | Long             | EC               | RF                | US        |    125156 | NS      | $14405455.60  | 8.07%             |  |  |  | No            | 1                  | On Loan: —       |
| VanEck Bitcoin ETF/US                                       | VanEck Bitcoin ETF/US                                       | CUSIP: 92189K105<br>LEI: N/A                  | Long             | EC               | RF                | US        |     30660 | NS      | $758221.80    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| First American Government Obligations Fund                  | First American Government Obligations Fund                  | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   5399672 | PA      | $5399671.69   | 3.03%             |  |  |  | No            | 1                  | On Loan: No      |
| EQT Corp                                                    | EQT Corp                                                    | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |     24266 | NS      | $1300657.60   | 0.73%             |  |  |  | No            | 1                  | On Loan: No      |
| Global X MSCI Colombia ETF                                  | Global X MSCI Colombia ETF                                  | CUSIP: 37954Y327<br>LEI: N/A                  | Long             | EC               | RF                | US        |     82740 | NS      | $2948853.60   | 1.65%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares MSCI South Korea ETF                                | iShares MSCI South Korea ETF                                | CUSIP: 464286772<br>LEI: GR1QY1XUY5M0EJSI5J57 | Long             | EC               | RF                | US        |     57939 | NS      | $5632829.58   | 3.16%             |  |  |  | No            | 1                  | On Loan: —       |
| Freeport-McMoRan Inc                                        | Freeport-McMoRan Inc                                        | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     28329 | NS      | $1438829.91   | 0.81%             |  |  |  | No            | 1                  | On Loan: No      |
| Halliburton Co                                              | Halliburton Co                                              | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |     94281 | NS      | $2664381.06   | 1.49%             |  |  |  | No            | 1                  | On Loan: No      |
| ConocoPhillips                                              | ConocoPhillips                                              | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     13989 | NS      | $1309510.29   | 0.73%             |  |  |  | No            | 1                  | On Loan: No      |
| Williams Cos Inc/The                                        | Williams Cos Inc/The                                        | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     22512 | NS      | $1353196.32   | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| Exxon Mobil Corp                                            | Exxon Mobil Corp                                            | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     11308 | NS      | $1360804.72   | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| Natera Inc                                                  | Natera Inc                                                  | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8912 | NS      | $2041650.08   | 1.14%             |  |  |  | No            | 1                  | On Loan: —       |
| Alphabet Inc                                                | Alphabet Inc                                                | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      8635 | NS      | $2709663.00   | 1.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Suncor Energy Inc                                           | Suncor Energy Inc                                           | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |     30462 | NS      | $1351294.32   | 0.76%             |  |  |  | No            | 1                  | On Loan: —       |
| SLB Ltd                                                     | SLB Ltd                                                     | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |     68326 | NS      | $2622351.88   | 1.47%             |  |  |  | No            | 1                  | On Loan: No      |
| CRH PLC                                                     | CRH PLC                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IE        |      7094 | NS      | $885331.20    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| HDFC BANK LTD - ADR                                         | HDFC BANK LTD - ADR                                         | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |     50067 | NS      | $1829448.18   | 1.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Baidu Inc                                                   | Baidu Inc                                                   | CUSIP: 056752108<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     21438 | NS      | $2801089.08   | 1.57%             |  |  |  | No            | 1                  | On Loan: —       |
| Tencent Holdings Ltd                                        | Tencent Holdings Ltd                                        | CUSIP: 88032Q109<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |     46060 | NS      | $3525893.00   | 1.98%             |  |  |  | No            | 1                  | On Loan: No      |
| Alibaba Group Holding Ltd                                   | Alibaba Group Holding Ltd                                   | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |     17378 | NS      | $2547267.24   | 1.43%             |  |  |  | No            | 1                  | On Loan: —       |
| Smurfit WestRock PLC                                        | Smurfit WestRock PLC                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IE        |     23911 | NS      | $924638.37    | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| ISHARES INC MSCI HONG KONG                                  | ISHARES INC MSCI HONG KONG                                  | CUSIP: 464286871<br>LEI: 5493006QGDOVMY5SAY54 | Long             | EC               | RF                | US        |     55447 | NS      | $1178248.75   | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| VanEck J. P. Morgan EM Local Currency Bond ETF              | VanEck J. P. Morgan EM Local Currency Bond ETF              | CUSIP: 92189H300<br>LEI: 549300CNWPR88MZBEA63 | Long             | EC               | RF                | US        |    174125 | NS      | $4495907.50   | 2.52%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Industrial Select Sector SPDR ETF              | State Street Industrial Select Sector SPDR ETF              | CUSIP: 81369Y704<br>LEI: 549300HQI51T8KP6U325 | Long             | EC               | RF                | US        |     11499 | NS      | $1783724.88   | 1.00%             |  |  |  | No            | 1                  | On Loan: —       |
| ISHARES INC MSCI GERMAN                                     | ISHARES INC MSCI GERMAN                                     | CUSIP: 464286806<br>LEI: N/A                  | Long             | EC               | RF                | US        |    127892 | NS      | $5435410.00   | 3.05%             |  |  |  | No            | 1                  | On Loan: —       |
| Accenture PLC                                               | Accenture PLC                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IE        |      6617 | NS      | $1775341.10   | 1.00%             |  |  |  | No            | 1                  | On Loan: No      |
| MOUNT VERNON LIQUID ASSETS PORTFOLIO                        | MOUNT VERNON LIQUID ASSETS PORTFOLIO                        | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |  54091660 | NS      | $54091660.00  | 30.32%            |  |  |  | No            | N/A                | On Loan: No      |

### Signature

**Date Signed:** 2025-12-31

**Name of Applicant:** EA Series Trust

**Signature:** /s/ Sean Hegarty

**Name of Signer:** Sean Hegarty

**Title:** Treasurer