# EDGAR Filing Document

**Accession Number:** 0001547950
**File Stem:** 0000910472-26-000639
**Filing Date:** 2026-1
**Character Count:** 29925
**Document Hash:** 200dfc916c97258a5989e11227deb0f7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-000639.hdr.sgml**: 20260127

**ACCESSION NUMBER**: 0000910472-26-000639

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260127

**DATE AS OF CHANGE**: 20260127

**PERIOD START**: 20251130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Exchange Listed Funds Trust
- **CENTRAL INDEX KEY:** 0001547950

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22700
- **FILM NUMBER:** 26566543

**BUSINESS ADDRESS:**
- **STREET 1:** 10900 HEFNER POINTE DRIVE
- **STREET 2:** SUITE 400
- **CITY:** OKLAHOMA CITY
- **STATE:** OK
- **ZIP:** 73120
- **BUSINESS PHONE:** 405-778-8377

**MAIL ADDRESS:**
- **STREET 1:** 10900 HEFNER POINTE DRIVE
- **STREET 2:** SUITE 400
- **CITY:** OKLAHOMA CITY
- **STATE:** OK
- **ZIP:** 73120

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Exchange Traded Concepts Trust II
- **DATE OF NAME CHANGE:** 20120420

## Series and Classes Contracts Data

### Saba Closed-End Funds ETF (Series ID: S000056657)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000179256 | Saba Closed-End Funds ETF | CEFS            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Exchange Listed Funds Trust

- **b. Investment Company Act file number:** 811-22700

- **c. CIK number of Registrant:** 0001547950

- **d. LEI of Registrant:** 549300NACQI9T12KM079

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

  - **Street Address 1:** 10900 Hefner Pointe Drive

  - **City:** Oklahoma City

  - **State:** OK

  - **Foreign country:** US

  - **Zip / Postal Code:** 73120

  - **Telephone number:** 405-778-8377

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

- **a. Name of Series:** Saba Closed-End Funds ETF

- **b. EDGAR series identifier (if any):** S000056657

- **c. LEI of Series:** 549300GSI1BSONVINL03

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

- **a. Date of fiscal year-end:** 2025-11-30

- **b. Date as of which information is reported:** 2025-11-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $376374622.38

**Total Liabilities:** $28011641.95

**Net Assets:** $348362980.43

**Cash Not Reported:** $23042809.97

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000179256 | 1.88%                | 0.88%                | 0.14%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $479294.52               | $4293118.25                                |
| Month 2  | $1458059.51              | $503509.52                                 |
| Month 3  | $4279042.32              | $-5349199.68                               |

**Designated Index Information**

- **Index Name:** SABA CLOSED-END FUNDS ETF  - ExDerivatives

- **Index Identifier:** SABA CLOSED-END FUNDS ETF  - ExDerivatives

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Bny Mellon Strategic Muni Bd Fd Inc                        | BNYM-STR MUNI            | CUSIP: 09662E109<br>LEI: 54930044KK4C1VDJ7M52 | Long             | EC               | RF                | US        |    363436 | NS      | $2140638.04   | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| Tri-Continental Corp                                       | TRI-CONTL CORP           | CUSIP: 895436103<br>LEI: 6QVMFZKY1QSOOIHD7Y77 | Long             | EC               | RF                | US        |    261781 | NS      | $8989559.54   | 2.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Allspring Global Dividend Opportunity Fund                 | ALLSP-GL DVD OPP         | CUSIP: 94987C103<br>LEI: 5493000KZPDD7O5F1562 | Long             | EC               | RF                | US        |     24817 | NS      | $145923.96    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Duff & Phelps Utility & Infrastructure Fund Inc            | D&F-UTIL & INC           | CUSIP: 26433C105<br>LEI: 549300SY2NYDO23RIE89 | Long             | EC               | RF                | US        |    137523 | NS      | $1808427.45   | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| EATON VANCE CALIF MUN INCOME TR                            | EATON VAN CA MUN         | CUSIP: 27826F101<br>LEI: 5493000EWT76UUJKIW67 | Long             | EC               | RF                | US        |      8890 | NS      | $93256.10     | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| GAMCO Natural Resources, Gold & Income Trust               | GAMCO NTL RES GL         | CUSIP: 36465E101<br>LEI: 23EBEGZ81713Q1VCP222 | Long             | EC               | RF                | US        |     27246 | NS      | $197533.50    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| John Hancock Diversified Income Fund                       | JOHN HNCK DIV IN         | CUSIP: 47804L102<br>LEI: TXPTLN9B34V0S0MTR071 | Long             | EC               | RF                | US        |     15406 | NS      | $168387.58    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Clough Global Equity Fund                                  | CLOUGH-GLBL EQTY         | CUSIP: 18914C100<br>LEI: 549300SI1THLT6A9J147 | Long             | EC               | RF                | US        |     77266 | NS      | $604614.18    | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| BlackRock Science and Technology Term Trust                | BLKR-SCI & TECH          | CUSIP: 09260K101<br>LEI: 549300NQ3IL1NKVC9M67 | Long             | EC               | RF                | US        |    973739 | NS      | $21519631.90  | 6.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                     | US 10YR NOTE (CBT)Mar26  | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DIR              | CORP              | US        |      -229 | NC      | $-23257.93    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| BlackRock ESG Capital Allocation Term Trust                | BLKR-ESG CAP ALL         | CUSIP: 09262F100<br>LEI: 549300EWOI5G0PSVIX17 | Long             | EC               | RF                | US        |   2048168 | NS      | $32729724.64  | 9.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Neuberger Berman Municipal Fund Inc                        | NB-MUNI                  | CUSIP: 64124P101<br>LEI: N/A                  | Long             | EC               | RF                | US        |     94851 | NS      | $968428.71    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Principal Real Estate Income Fd                            | PRIN-RL EST INC          | CUSIP: 74255X104<br>LEI: 549300HK3LIJEGLGMK36 | Long             | EC               | RF                | US        |      2780 | NS      | $28300.40     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Destra Multi Alternative Fund                              | DESTRA MULTI-ALT         | CUSIP: 25065A502<br>LEI: 549300SP0KUS5HR5P569 | Long             | EC               | RF                | US        |    267238 | NS      | $2324970.60   | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| Voya Asia Pacific High Dividend Equity Income Fund         | VOYA-A/P HI DVD          | CUSIP: 92912J102<br>LEI: 549300GNK7F1VWTNPE94 | Long             | EC               | RF                | US        |    320521 | NS      | $2394291.87   | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Mexico Equity&Inc                                          | MEXICO EQ & INC          | CUSIP: 592834105<br>LEI: 549300Q0OD8MQEFTBY23 | Long             | EC               | RF                | US        |      1943 | NS      | $22946.83     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| FEDERATED PREMIER MUN INCOME FD                            | FH-PREM MUNI INC         | CUSIP: 31423P108<br>LEI: C0TUI5ZPEIY028NN4Q23 | Long             | EC               | RF                | US        |     32801 | NS      | $365731.15    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| BLACKROCK CALIF MUN INCOME TR                              | BLKR-CA MUNI INC         | CUSIP: 09248E102<br>LEI: LE6236HQD6DXEGUHE217 | Long             | EC               | RF                | US        |    573746 | NS      | $6271101.15   | 1.80%             |  |  |  | No            | 1                  | On Loan: No      |
| abrdn Healthcare Investors                                 | ABRDN-HEALTH INV         | CUSIP: 87911J103<br>LEI: 549300SNASESIFOS6V75 | Long             | EC               | RF                | US        |      9115 | NS      | $178015.95    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Korea Fund Inc                                             | KOREA FUND INC           | CUSIP: 500634209<br>LEI: 549300M4Y1IG0WPTKC03 | Long             | EC               | RF                | US        |      7061 | NS      | $243886.94    | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Tortoise Energy Infrastructure Corporation                 | TORT-ENRGY INFRA         | CUSIP: 89147L886<br>LEI: 5493008P735YB22YPB89 | Long             | EC               | RF                | US        |     45011 | NS      | $1984548.60   | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Enhanced Global Dividend Trust                   | BLKR-EN GL DVD           | CUSIP: 092501105<br>LEI: U48QD6ILUF60LKMSND68 | Long             | EC               | RF                | US        |    899614 | NS      | $10444518.54  | 3.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Neuberger Berman Energy Infrastructure and Income Fund Inc | NEUBERGER BERMAN         | CUSIP: 64129H104<br>LEI: 549300P5ICT7WWGP8224 | Long             | EC               | RF                | US        |    840897 | NS      | $7315803.90   | 2.10%             |  |  |  | No            | 1                  | On Loan: No      |
| abrdn Emerging Markets ex China Fund Inc.                  | ABRDN EMERGING M         | CUSIP: 00301W105<br>LEI: 549300MSYUW07RYUZD27 | Long             | EC               | RF                | US        |      4294 | NS      | $28898.62     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Bancroft Fund Ltd.                                         | BANCROFT FUND            | CUSIP: 059695106<br>LEI: 5493000X4Y1FB4G26P45 | Long             | EC               | RF                | US        |     34685 | NS      | $768272.75    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Eaton Vance T/M Gl                                         | EATON VANCE TAX MAN GLBL | CUSIP: 27829C105<br>LEI: 549300YMO6N2TLCMXO54 | Long             | EC               | RF                | US        |    528639 | NS      | $4847619.63   | 1.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Mexico Fund Inc                                            | MEXICO FUND              | CUSIP: 592835102<br>LEI: N/A                  | Long             | EC               | RF                | US        |    190032 | NS      | $3675218.88   | 1.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Taiwan Fund Inc                                            | TAIWAN FUND INC          | CUSIP: 874036106<br>LEI: 549300B0OHIYIAWV0Z83 | Long             | EC               | RF                | US        |     22534 | NS      | $1242750.10   | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Total Return Securities Fund                               | TOTAL RETURN SEC         | CUSIP: 870875101<br>LEI: 549300HQZ0XPGTS5Q724 | Long             | EC               | RF                | US        |     23649 | NS      | $142603.47    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| MFS MUN INCOME TR                                          | MFS-MUNI INC             | CUSIP: 552738106<br>LEI: GV4WN51HRTKYT6CV5890 | Long             | EC               | RF                | US        |     48919 | NS      | $261227.46    | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Clough Global Dividend And Income Fund                     | CLOUGH-GL DV&IN          | CUSIP: 18913Y103<br>LEI: 5493001GFY6TW0CYCT15 | Long             | EC               | RF                | US        |     60098 | NS      | $369001.72    | 0.11%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Dynamic Income Strategy Fund                         | PIMCO-DYN INC ST         | CUSIP: 69346N107<br>LEI: 549300BX5QVFQJENPV35 | Long             | EC               | RF                | US        |    577594 | NS      | $12579997.32  | 3.61%             |  |  |  | No            | 1                  | On Loan: No      |
| abrdn Life Sciences Investors                              | ABRDN-LIFE SCI           | CUSIP: 87911K100<br>LEI: 5493007BYZPSOVVS0M04 | Long             | EC               | RF                | US        |    268088 | NS      | $4737114.96   | 1.36%             |  |  |  | No            | 1                  | On Loan: No      |
| ALLIANCEBERNSTEIN NATL MUN INCOME FD INC                   | ALLIANCE-NTL MUN         | CUSIP: 01864U106<br>LEI: MNYPOOOZYY8V01GEIT28 | Long             | EC               | RF                | US        |    217913 | NS      | $2368714.31   | 0.68%             |  |  |  | No            | 1                  | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE (FLOOR)                        | S&P500 EMINI FUT  Dec25  | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Short            | DE               | CORP              | US        |       -50 | NC      | $-478625.00   | -0.14%            |  |  |  | No            | 1                  | On Loan: No      |
| Clough Global Opportunities Fund                           | CLOUGH-GL OPP            | CUSIP: 18914E106<br>LEI: 549300DTG68UBCNCPY15 | Long             | EC               | RF                | US        |    129544 | NS      | $746173.44    | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO CALIFORNIA MUNICIPAL INCOME FUND                     | PIMCO CA MU INC          | CUSIP: 72200N106<br>LEI: M4DHYCROG6SFNO22X437 | Long             | EC               | RF                | US        |     90123 | NS      | $796687.32    | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| General American Investors Company, Inc.                   | GEN AMER INVEST          | CUSIP: 368802104<br>LEI: 254900MHIF9G7IS1T951 | Long             | EC               | RF                | US        |    215180 | NS      | $12639673.20  | 3.63%             |  |  |  | No            | 1                  | On Loan: No      |
| MFS HIGH INCOME MUN TR                                     | MFS-HI INC MUNI          | CUSIP: 59318D104<br>LEI: 0G9TCUWY2FBUXSJY2691 | Long             | EC               | RF                | US        |    130033 | NS      | $482422.43    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Adams Natural Resources Fund Inc                           | ADAMS NATURAL RE         | CUSIP: 00548F105<br>LEI: 549300LPTQAH0G3NGD42 | Long             | EC               | RF                | US        |     36090 | NS      | $780987.60    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Calamos Global Dynamic Income Fund                         | CALAMOS GLOBAL           | CUSIP: 12811L107<br>LEI: CZEVBUHZTXPJGPSFDE25 | Long             | EC               | RF                | US        |    279533 | NS      | $2057362.88   | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| BNY Mellon Strategic Municipals Inc                        | BNYM-STR MUNI            | CUSIP: 05588W108<br>LEI: 549300FH0LKMOBY7N332 | Long             | EC               | RF                | US        |    429809 | NS      | $2673411.98   | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| BNY MELLON MUN BD INFRASTRUCTURE FD INC                    | BNYM-MUN BD INFR         | CUSIP: 09662W109<br>LEI: 5493003OUY2BKGFZ2414 | Long             | EC               | RF                | US        |     75828 | NS      | $800743.68    | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley China A Share Fund Inc.                     | MORGAN STANLEY C         | CUSIP: 617468103<br>LEI: 54930045HQ1UNO6FR635 | Long             | EC               | RF                | US        |     46350 | NS      | $735111.00    | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| BNP LINE OF CREDIT SABA                                    | BNP LINE OF CREDIT SABA  | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | RF                | US        |  20997265 | PA      | $20997264.67  | 6.03%             | 2099-12-31      | Variable      | 0.01%                 | No            | N/A                | On Loan: No      |
| Saba Capital Income & Opportunities Fund II                | SABA CAPITAL INC         | CUSIP: 880198205<br>LEI: QU1AAXOSV5K4OVMXJP19 | Long             | EC               | RF                | US        |    302398 | NS      | $2661102.40   | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| Gabelli Healthcare & Wellness Trust                        | GABELLI-HLTH&WEL         | CUSIP: 36246K103<br>LEI: 549300XULWZNLHFTG832 | Long             | EC               | RF                | US        |    260802 | NS      | $2521955.34   | 0.72%             |  |  |  | No            | 1                  | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                                | E-Mini Russ 2000  Dec25  | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Short            | DE               | CORP              | US        |       -45 | NC      | $-180900.00   | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| Voya Emerging Markets High Dividend Equity Fund            | VOYA-EM HI DV EQ         | CUSIP: 92912P108<br>LEI: 549300MBU0OQHUKI2Y86 | Long             | EC               | RF                | US        |    176295 | NS      | $1100080.80   | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Dow 30 Dynamic Overwrite Fd                         | NVN-D30 DYM O/W          | CUSIP: 67075F105<br>LEI: 549300CNS4Q1ZZUGS005 | Long             | EC               | RF                | US        |    123485 | NS      | $1854744.70   | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Bexil Investment Trust                                     | BEXIL INVESTMENT         | CUSIP: 25538A204<br>LEI: 549300GQF37VFS5FKW75 | Long             | EC               | RF                | US        |     27325 | NS      | $411787.75    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Neuberger Berman Next Generation Connectivity Fund Inc     | NB-NEX GEN CONN          | CUSIP: 64133Q108<br>LEI: 549300GRTFKXVB9LQE61 | Long             | EC               | RF                | US        |    740885 | NS      | $10898418.35  | 3.13%             |  |  |  | No            | 1                  | On Loan: No      |
| DELAWARE INVTS NATL MUN INCOME FD                          | ABRDN NTL MUNI           | CUSIP: 24610T108<br>LEI: NIC7ULNUGCUI836YP119 | Long             | EC               | RF                | US        |     17184 | NS      | $173214.72    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| VanEck ETF Trust                                           | VANECK GOLD MINE         | CUSIP: 92189F106<br>LEI: 549300ZLFKNTXC51ZN76 | Short            | EC               | RF                | US        |   -330951 | NS      | $-27545051.73 | -7.91%            |  |  |  | No            | 1                  | On Loan: No      |
| Kayne Anderson Energy Infrastructure Fund Inc              | KA-ENRGY INFRA           | CUSIP: 486606106<br>LEI: 549300H9ZCLGQEKXQY57 | Long             | EC               | RF                | US        |    139244 | NS      | $1729410.48   | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                     | US 5YR NOTE (CBT) Mar26  | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DIR              | CORP              | US        |       -61 | NC      | $-2859.38     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stan India                                          | MS-INDIA INVEST          | CUSIP: 61745C105<br>LEI: 5LQ8NRKQLK2XRS19BS65 | Long             | EC               | RF                | US        |     67957 | NS      | $1834159.43   | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Virtus Equity & Convertible Income Fund                    | VIRTUS ALLIANZGI         | CUSIP: 92841M101<br>LEI: 549300E7CGC36IOELF91 | Long             | EC               | RF                | US        |    184431 | NS      | $4728810.84   | 1.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Japan Smaller Capi                                         | NOMURA-JPN S/C           | CUSIP: 47109U104<br>LEI: 5493000KJSHWEB3YKZ37 | Long             | EC               | RF                | US        |    225339 | NS      | $2424647.64   | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| Royce Small Cap Trust Inc                                  | ROYCE SMALL-CAP          | CUSIP: 780910105<br>LEI: 254900NJE1W1YYKNVM16 | Long             | EC               | RF                | US        |    179032 | NS      | $2909270.00   | 0.84%             |  |  |  | No            | 1                  | On Loan: No      |
| ASA Gold and Precious Metals Ltd.                          | ASA GOLD AND PRE         | CUSIP: G3156P103<br>LEI: 254900VOUR4617HGCL14 | Long             | EC               | RF                | BM        |    575128 | NS      | $30320748.16  | 8.70%             |  |  |  | No            | 1                  | On Loan: No      |
| Virtus Dividend, Interest & Premium Strategy Fund          | VRTS-DVD INT PRM         | CUSIP: 92840R101<br>LEI: 549300535GECAFITZP67 | Long             | EC               | RF                | US        |    983828 | NS      | $12838955.40  | 3.69%             |  |  |  | No            | 1                  | On Loan: No      |
| RiverNorth Flexible Municipal Income Fund Ii Inc           | RVRNRT-FLX MUNI2         | CUSIP: 76883Y107<br>LEI: 549300U301TLYWQNC025 | Long             | EC               | RF                | US        |    517451 | NS      | $6607849.27   | 1.90%             |  |  |  | No            | 1                  | On Loan: No      |
| Gabelli Divid & Income Tr                                  | GABELLI DVD&INC          | CUSIP: 36242H104<br>LEI: 549300082N1MHBT8NI60 | Long             | EC               | RF                | US        |    584150 | NS      | $16005710.00  | 4.59%             |  |  |  | No            | 1                  | On Loan: No      |
| Total Return Securities Fund                               | TOTAL RETURN-RTS         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     23649 | NS      | $0.00         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| NYLI CBRE Global Infrastructure Megatrends Term Fund       | NYLI CBRE GBL IM         | CUSIP: 56064Q107<br>LEI: N/A                  | Long             | EC               | RF                | US        |    510491 | NS      | $7376594.95   | 2.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Multi Asset Income Fund                             | NVN-M/A INC              | CUSIP: 670750108<br>LEI: 549300VLJPKC3DNIJ668 | Long             | EC               | RF                | US        |    435437 | NS      | $5752122.77   | 1.65%             |  |  |  | No            | 1                  | On Loan: No      |
| NUVEEN PA INVT QUALITY MUN FD                              | NVN-PA QUAL MUNI         | CUSIP: 670972108<br>LEI: 5493000C1CS4Q000GF67 | Long             | EC               | RF                | US        |    327455 | NS      | $4004774.65   | 1.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Highland Opportunities & Income Fund                       | HIGHL-OPP & INC          | CUSIP: 43010E404<br>LEI: 254900CMUE9FRYL2UR80 | Long             | EC               | RF                | US        |    426827 | NS      | $2663400.48   | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| NUVEEN NEW JERSEY DIVID ADVANTAGE MUN FD                   | NVN-NJ QLTY MUNI         | CUSIP: 67069Y102<br>LEI: 5493006CFPL75HL16F31 | Long             | EC               | RF                | US        |    101791 | NS      | $1295799.43   | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Templeton Dragon Fund Inc.                                 | TEMP-DRAGON              | CUSIP: 88018T101<br>LEI: 549300L5KGV2K28LYW59 | Long             | EC               | RF                | US        |     70425 | NS      | $783126.00    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Royce Micro-Cap Trust, Inc.                                | ROYCE MICRO-CAP          | CUSIP: 780915104<br>LEI: 254900D3WFIV4SD8EF19 | Long             | EC               | RF                | US        |    201828 | NS      | $2111120.88   | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO NEW YORK MUNICIPAL INCOME FUND II                    | PIMCO-NY MUN II          | CUSIP: 72200Y102<br>LEI: VSODSLIYXJ7C18SCFD63 | Long             | EC               | RF                | US        |     56709 | NS      | $393560.46    | 0.11%             |  |  |  | No            | 1                  | On Loan: No      |
| Virtus Convertible & Income Fund                           | VIRTUS CONVERTIB         | CUSIP: 92838X805<br>LEI: 549300WT3ICVH2Z06O49 | Long             | EC               | RF                | US        |      4309 | NS      | $66574.05     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Western Asset Inflation-Linked Opportunities & Income Fund | WESTERN A IL OPP         | CUSIP: 95766R104<br>LEI: 549300Z3DNF4FJBJ4A87 | Long             | EC               | RF                | US        |    438987 | NS      | $3880645.08   | 1.11%             |  |  |  | No            | 1                  | On Loan: No      |
| BBH SWEEP VEHICLE                                          | BBH SWEEP VEHICLE        | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |  41580850 | PA      | $41580849.89  | 11.94%            |  |  |  | No            | 1                  | On Loan: No      |
| Ellsworth Growth and Income Fund Ltd                       | ELLSW-GRW & INC          | CUSIP: 289074106<br>LEI: 549300GYFOXHCDQTI772 | Long             | EC               | RF                | US        |    186638 | NS      | $2165000.80   | 0.62%             |  |  |  | No            | 1                  | On Loan: No      |
| NEW Germany Fund                                           | NEW GERMANY              | CUSIP: 644465106<br>LEI: 549300TPS2RTTJ8O3C08 | Long             | EC               | RF                | US        |    176326 | NS      | $1913983.46   | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2025-12-26

**Name of Applicant:** Exchange Listed Funds Trust

**Signature:** Chris Roleke

**Name of Signer:** Chris Roleke

**Title:** Treasurer