# EDGAR Filing Document

**Accession Number:** 0001547950
**File Stem:** 0001752724-25-176191
**Filing Date:** 2025-7
**Character Count:** 38693
**Document Hash:** 5221163429b728607d6c45e0edffb7c8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-176191.hdr.sgml**: 20250724

**ACCESSION NUMBER**: 0001752724-25-176191

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250724

**DATE AS OF CHANGE**: 20250724

**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:** 251145548

**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:** 2025-05-31

**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:** $299048608.21

**Total Liabilities:** $17016901.39

**Net Assets:** $282031706.82

**Cash Not Reported:** $15187256.16

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000179256 | -1.34%               | -1.22%               | 4.40%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $98678.95                | $-8742108.28                               |
| Month 2  | $-834105.21              | $-3871604.69                               |
| Month 3  | $228193.66               | $9717558.93                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CHICAGO MERCANTILE EXCHANGE                                 | S&P500 EMINI FUT  Jun25   | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Short            | DE               | CORP              | US        |       -50 | NC      | $-617750.00   | -0.22%            |  |  |  | No            |                  1 | On Loan: No      |
| Bny Mellon Strategic Muni Bd Fd Inc                         | BNYM-STR MUNI             | CUSIP: 09662E109<br>LEI: 54930044KK4C1VDJ7M52 | Long             | EC               | RF                | US        |    335561 | NS      | $1862363.55   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Tri-Continental Corp                                        | TRI-CONTL CORP            | CUSIP: 895436103<br>LEI: 6QVMFZKY1QSOOIHD7Y77 | Long             | EC               | RF                | US        |     11342 | NS      | $353756.98    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Allspring Global Dividend Opportunity Fund                  | WELLS FARGO GLOBAL DIVIDE | CUSIP: 94987C103<br>LEI: 5493000KZPDD7O5F1562 | Long             | EC               | RF                | US        |     72555 | NS      | $383815.95    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| PIONEER MUN HIGH INCOME TR                                  | PIONEER MUNICIPA          | CUSIP: 723763108<br>LEI: 5493009JYKCUKTUKGP36 | Long             | EC               | RF                | US        |    539963 | NS      | $4962259.97   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| EATON VANCE CALIF MUN INCOME TR                             | EATON VAN CA MUN          | CUSIP: 27826F101<br>LEI: 5493000EWT76UUJKIW67 | Long             | EC               | RF                | US        |     56366 | NS      | $542240.92    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                                 | E-Mini Russ 2000  Jun25   | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Short            | DE               | CORP              | US        |       -45 | NC      | $-2315.51     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| GAMCO Natural Resources, Gold & Income Trust                | GAMCO NTL RES GL          | CUSIP: 36465E101<br>LEI: 23EBEGZ81713Q1VCP222 | Long             | EC               | RF                | US        |     42849 | NS      | $265663.80    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| John Hancock Diversified Income Fund                        | JOHN HNCK DIV IN          | CUSIP: 47804L102<br>LEI: TXPTLN9B34V0S0MTR071 | Long             | EC               | RF                | US        |      5221 | NS      | $55055.45     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Calamos Long/Short Equity & Dynamic Income Trust            | CLMS-L/S EQ & DY          | CUSIP: 12812C106<br>LEI: 54930028TUOZZMUQBY94 | Long             | EC               | RF                | US        |     18166 | NS      | $288294.42    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK MUN TARGET TERM TR                                | BLKR-2030 MUNI            | CUSIP: 09257P105<br>LEI: 3UOUT0TVSWH2MLU2XJ29 | Long             | EC               | RF                | US        |     53509 | NS      | $1145627.69   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Clough Global Equity Fund                                   | CLOUGH-GLBL EQTY          | CUSIP: 18914C100<br>LEI: 549300SI1THLT6A9J147 | Long             | EC               | RF                | US        |     76592 | NS      | $516299.01    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Science and Technology Term Trust                 | BLKR-SCI & TECH           | CUSIP: 09260K101<br>LEI: 549300NQ3IL1NKVC9M67 | Long             | EC               | RF                | US        |    206178 | NS      | $3995729.64   | 1.42%             |  |  |  | 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      | $32422499.44  | 11.50%            |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO NEW YORK MUN INCOME FD III                            | PIMCO-NY MUN III          | CUSIP: 72201E105<br>LEI: R2MUFGRNN5QKX2UD3V35 | Long             | EC               | RF                | US        |     21212 | NS      | $112317.54    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Neuberger Berman Municipal Fund Inc                         | NB-MUNI                   | CUSIP: 64124P101<br>LEI: N/A                  | Long             | EC               | RF                | US        |     94851 | NS      | $936179.37    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Principal Real Estate Income Fd                             | PRIN-RL EST INC           | CUSIP: 74255X104<br>LEI: 549300HK3LIJEGLGMK36 | Long             | EC               | RF                | US        |     84193 | NS      | $875607.20    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Destra Multi Alternative Fund                               | DESTRA MULTI-ALT          | CUSIP: 25065A502<br>LEI: 549300SP0KUS5HR5P569 | Long             | EC               | RF                | US        |    267238 | NS      | $2346349.64   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Asia Pacific High Dividend Equity Income Fund          | VOYA ASIA PACIFIC HIGH DI | CUSIP: 92912J102<br>LEI: 549300GNK7F1VWTNPE94 | Long             | EC               | RF                | US        |    320521 | NS      | $2144285.49   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Mexico Equity&Inc                                           | MEXICO EQ & INC           | CUSIP: 592834105<br>LEI: 549300Q0OD8MQEFTBY23 | Long             | EC               | RF                | US        |      1943 | NS      | $19374.43     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDERATED PREMIER MUN INCOME FD                             | FEDERATED HERMES          | CUSIP: 31423P108<br>LEI: C0TUI5ZPEIY028NN4Q23 | Long             | EC               | RF                | US        |     32801 | NS      | $347362.59    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK CALIF MUN INCOME TR                               | BLACKROCK CALI M          | CUSIP: 09248E102<br>LEI: LE6236HQD6DXEGUHE217 | Long             | EC               | RF                | US        |    585715 | NS      | $6314007.70   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| abrdn Healthcare Investors                                  | ABRDN-HEALTH INV          | CUSIP: 87911J103<br>LEI: 549300SNASESIFOS6V75 | Long             | EC               | RF                | US        |    152297 | NS      | $2317960.34   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| abrdn Global Infrastructure Income Fund                     | ABRDN-GLBL INFRA          | CUSIP: 00326W106<br>LEI: 549300ZRYJVK3J3YXY67 | Long             | EC               | RF                | US        |    165414 | NS      | $3217302.30   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Technology & Private Equity Term Trust            | BLACKROCK TECHNO          | CUSIP: 09260Q108<br>LEI: 549300G3XFQ7175KM723 | Long             | EC               | RF                | US        |   3750438 | NS      | $26178057.24  | 9.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Korea Fund Inc                                              | KOREA FUND INC            | CUSIP: 500634209<br>LEI: 549300M4Y1IG0WPTKC03 | Long             | EC               | RF                | US        |      1191 | NS      | $26618.85     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Tortoise Energy Infrastructure Corporation                  | TORT-ENRGY INFRA          | CUSIP: 89147L886<br>LEI: 5493008P735YB22YPB89 | Long             | EC               | RF                | US        |     41179 | NS      | $1667749.50   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Enhanced Global Dividend Trust                    | BLKR-EN GL DVD            | CUSIP: 092501105<br>LEI: U48QD6ILUF60LKMSND68 | Long             | EC               | RF                | US        |    218155 | NS      | $2441154.45   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Neuberger Berman Energy Infrastructure and Income Fund Inc  | NEUBERGER BERMAN          | CUSIP: 64129H104<br>LEI: 549300P5ICT7WWGP8224 | Long             | EC               | RF                | US        |      1741 | NS      | $14850.73     | 0.01%             |  |  |  | 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      | $23230.54     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Capital Allocation Term Trust                     | BLKR-CAP ALL              | CUSIP: 09260U109<br>LEI: 5493007LDARS47M53X11 | Long             | EC               | RF                | US        |    432706 | NS      | $6442992.34   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Bancroft Fund Ltd.                                          | BANCROFT FUND             | CUSIP: 059695106<br>LEI: 5493000X4Y1FB4G26P45 | Long             | EC               | RF                | US        |     23333 | NS      | $417224.37    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Mexico Fund Inc                                             | MEXICO FUND               | CUSIP: 592835102<br>LEI: N/A                  | Long             | EC               | RF                | US        |     89633 | NS      | $1492389.45   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| abrdn Total Dynamic Dividend Fund                           | ABRDN-TTL DYN DV          | CUSIP: 00326L100<br>LEI: 254900D48NKNOGZ95B43 | Long             | EC               | RF                | US        |     78118 | NS      | $665565.36    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Fund Inc                                             | TAIWAN FUND INC           | CUSIP: 874036106<br>LEI: 549300B0OHIYIAWV0Z83 | Long             | EC               | RF                | US        |      7184 | NS      | $271339.68    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| China Fund Inc                                              | MTTHW-CHINA               | CUSIP: 169373107<br>LEI: 549300U9N8NM2LYE5807 | Long             | EC               | RF                | US        |      5419 | NS      | $66382.75     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Total Return Securities Fund                                | TOTAL RETURN SEC          | CUSIP: 870875101<br>LEI: 549300HQZ0XPGTS5Q724 | Long             | EC               | RF                | US        |     20032 | NS      | $126602.24    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MFS MUN INCOME TR                                           | MFS MUNI INC TST          | CUSIP: 552738106<br>LEI: GV4WN51HRTKYT6CV5890 | Long             | EC               | RF                | US        |     51794 | NS      | $265185.28    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK N Y MUN INCOME TR                                 | BLACKROCK NY MUN          | CUSIP: 09248L106<br>LEI: PJKTUMDJPIZ89SB71052 | Long             | EC               | RF                | US        |       167 | NS      | $1614.89      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Clough Global Dividend And Income Fund                      | CLOUGH-GL DV&IN           | CUSIP: 18913Y103<br>LEI: 5493001GFY6TW0CYCT15 | Long             | EC               | RF                | US        |      6986 | NS      | $38772.30     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Real Assets Income Fund Inc.                     | BROOKFIELD REAL           | CUSIP: 112830104<br>LEI: 5493007NX94W3HSQTJ60 | Long             | EC               | RF                | US        |     16878 | NS      | $218401.32    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO Dynamic Income Strategy Fund                          | PIM DNM IST-$INC          | CUSIP: 69346N107<br>LEI: N/A                  | Long             | EC               | RF                | US        |    577594 | NS      | $13429060.50  | 4.76%             |  |  |  | No            |                  1 | On Loan: No      |
| abrdn Life Sciences Investors                               | TEKLA LIFE SCIENCES INVES | CUSIP: 87911K100<br>LEI: 5493007BYZPSOVVS0M04 | Long             | EC               | RF                | US        |    268088 | NS      | $3281397.12   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ClearBridge Energy Midstream Opportunity Fund Incorporation | CLEARBRIDGE ENER          | CUSIP: 18469P209<br>LEI: 549300U6RAJWN6OONX12 | Long             | EC               | RF                | US        |     33694 | NS      | $1561043.02   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLIANCEBERNSTEIN NATL MUN INCOME FD INC                    | ALLIANCE- NATL M          | CUSIP: 01864U106<br>LEI: MNYPOOOZYY8V01GEIT28 | Long             | EC               | RF                | US        |    217913 | NS      | $2255399.55   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK MUNIHOLDINGS N Y QUALITY FD INC                   | BLKR-MUNIH NY QL          | CUSIP: 09255C106<br>LEI: YP1D2S6Y4JY0A7W3DV93 | Long             | EC               | RF                | US        |      1500 | NS      | $14655.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Clough Global Opportunities Fund                            | CLOUGH-GL OPP             | CUSIP: 18914E106<br>LEI: 549300DTG68UBCNCPY15 | Long             | EC               | RF                | US        |     68177 | NS      | $357247.48    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO CALIFORNIA MUNICIPAL INCOME FUND                      | PIMCO CA MU INC           | CUSIP: 72200N106<br>LEI: M4DHYCROG6SFNO22X437 | Long             | EC               | RF                | US        |     20540 | NS      | $173357.60    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| General American Investors Company, Inc.                    | GEN AMER INVEST           | CUSIP: 368802104<br>LEI: 254900MHIF9G7IS1T951 | Long             | EC               | RF                | US        |    193877 | NS      | $10455786.61  | 3.71%             |  |  |  | No            |                  1 | On Loan: No      |
| MFS HIGH INCOME MUN TR                                      | MFS HIGH INC MUN          | CUSIP: 59318D104<br>LEI: 0G9TCUWY2FBUXSJY2691 | Long             | EC               | RF                | US        |    137736 | NS      | $482076.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Adams Natural Resources Fund Inc                            | ADAMS NATURAL RE          | CUSIP: 00548F105<br>LEI: 549300LPTQAH0G3NGD42 | Long             | EC               | RF                | US        |     14078 | NS      | $282686.24    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Vance Insured California Municipal Bond Fund          | EATON VAN-CAL MU          | CUSIP: 27828A100<br>LEI: 549300FJGD8HWP11TO17 | Long             | EC               | RF                | US        |    576346 | NS      | $5063199.61   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK MUNIHOLDINGS CALIF QUALITY FD INC                 | BLKR-MUNI CA QLT          | CUSIP: 09254L107<br>LEI: NKJSRCJXMS5PZYPXY795 | Long             | EC               | RF                | US        |     39376 | NS      | $407147.84    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BNY Mellon Strategic Municipals Inc                         | BNYM STRAT MUNI           | CUSIP: 05588W108<br>LEI: 549300FH0LKMOBY7N332 | Long             | EC               | RF                | US        |    429809 | NS      | $2505786.47   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| BNY MELLON MUN BD INFRASTRUCTURE FD INC                     | BNYM-MU BD INF            | CUSIP: 09662W109<br>LEI: 5493003OUY2BKGFZ2414 | Long             | EC               | RF                | US        |     75828 | NS      | $761313.12    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Res & Commdities Strgy Tr                         | BLACKROCK RESOURCES & COM | CUSIP: 09257A108<br>LEI: 8DZAUY8151XS5PISSX42 | Long             | EC               | RF                | US        |    241227 | NS      | $2226525.21   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley China A Share Fund Inc.                      | MORGAN STANLEY CHINA A SH | CUSIP: 617468103<br>LEI: 54930045HQ1UNO6FR635 | Long             | EC               | RF                | US        |     10348 | NS      | $134524.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Saba Capital Income & Opportunities Fund II                 | SABA CAPITAL INC          | CUSIP: 880198205<br>LEI: QU1AAXOSV5K4OVMXJP19 | Long             | EC               | RF                | US        |    302398 | NS      | $2636910.56   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Gabelli Healthcare & Wellness Trust                         | GABELLI-HLTH&WEL          | CUSIP: 36246K103<br>LEI: 549300XULWZNLHFTG832 | Long             | EC               | RF                | US        |    254986 | NS      | $2437666.16   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Pioneer Diversified High Income Fund Inc                    | PIONEER DIVERSIF          | CUSIP: 723653101<br>LEI: GRH7C46DLKO4V5KVBT29 | Long             | EC               | RF                | US        |      3531 | NS      | $43042.89     | 0.02%             |  |  |  | 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      | $999575.02    | 0.35%             |  |  |  | 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        |     61569 | NS      | $872432.73    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Bexil Investment Trust                                      | BEXIL INVESTMENT          | CUSIP: 25538A204<br>LEI: 549300GQF37VFS5FKW75 | Long             | EC               | RF                | US        |     15634 | NS      | $200662.39    | 0.07%             |  |  |  | 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      | $9801908.55   | 3.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Adams Diversified Equity Fund Inc                           | ADAMS-DIV EQTY            | CUSIP: 006212104<br>LEI: 5493005W7G81BNPP7M23 | Long             | EC               | RF                | US        |    363597 | NS      | $7431922.68   | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| DELAWARE INVTS NATL MUN INCOME FD                           | DELAWARE IN NATL          | CUSIP: 24610T108<br>LEI: NIC7ULNUGCUI836YP119 | Long             | EC               | RF                | US        |     17184 | NS      | $167372.16    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO CALIFORNIA MUNICIPAL INCOME FUND II                   | PIMCO CA MUNI II          | CUSIP: 72200M108<br>LEI: 1R86W760D611I8RHLX24 | Long             | EC               | RF                | US        |    141134 | NS      | $755066.90    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| VanEck ETF Trust                                            | VANECK GOLD MINE          | CUSIP: 92189F106<br>LEI: 549300ZLFKNTXC51ZN76 | Short            | EC               | RF                | US        |   -330951 | NS      | $-16762668.15 | -5.94%            |  |  |  | No            |                  1 | On Loan: No      |
| Pioneer Municipal High Income Opportunities Fund Inc        | PNR-MUNI HI INC           | CUSIP: 723760104<br>LEI: 5493005BKX8X756MKL25 | Long             | EC               | RF                | US        |    182381 | NS      | $2170333.90   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Pioneer Floating Rate Fund Inc                              | PIONEER FLOATING RATE TRU | CUSIP: 72369J102<br>LEI: 5493002P921ISFUETH70 | Long             | EC               | RF                | US        |     34758 | NS      | $338890.50    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK MUNIHOLDINGS N J QUALITY FD INC                   | BLACKROCK-MUH QJ          | CUSIP: 09254X101<br>LEI: FDX8Y56FK6PN1WE5XX39 | Long             | EC               | RF                | US        |      3219 | NS      | $35151.48     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                      | US 5YR NOTE (CBT) Sep25   | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DIR              | CORP              | US        |      -378 | NC      | $-111802.95   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Kayne Anderson Energy Infrastructure Fund Inc               | KAYNE ANDERSON MLP/MIDSTR | CUSIP: 486606106<br>LEI: 549300H9ZCLGQEKXQY57 | Long             | EC               | RF                | US        |      3621 | NS      | $44031.36     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PIONEER MUN HIGH INCOME ADVANTAGE TR                        | PIONEER MUNICIPA          | CUSIP: 723762100<br>LEI: 549300XEJODK1I7Q2U66 | Long             | EC               | RF                | US        |    526549 | NS      | $4365091.21   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stan India                                           | MS-INDIA INVEST           | CUSIP: 61745C105<br>LEI: 5LQ8NRKQLK2XRS19BS65 | Long             | EC               | RF                | US        |     67957 | NS      | $1819888.46   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Smaller Capi                                          | JAPAN SM CAP              | CUSIP: 47109U104<br>LEI: 5493000KJSHWEB3YKZ37 | Long             | EC               | RF                | US        |    214018 | NS      | $2013909.38   | 0.71%             |  |  |  | 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      | $18202801.20  | 6.45%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Enhanced International Dividend Trust             | BLKR-ENH INT DVD          | CUSIP: 092524107<br>LEI: N/A                  | Long             | EC               | RF                | US        |     73226 | NS      | $426175.32    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtus Dividend, Interest & Premium Strategy Fund           | VRTS-DVD INT PRM          | CUSIP: 92840R101<br>LEI: 549300535GECAFITZP67 | Long             | EC               | RF                | US        |    662129 | NS      | $7965411.87   | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Allspring Utilities and High Income Fund                    | ALLSPRING UTILIT          | CUSIP: 94987E109<br>LEI: 549300FUV7SPMTSLG229 | Long             | EC               | RF                | US        |     11257 | NS      | $127879.52    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK MUNIYIELD PA QUALITY FD                           | BLKR-MUNIY PA QL          | CUSIP: 09255G107<br>LEI: O1KCIUJBK2RN0MOX1Z59 | Long             | EC               | RF                | US        |     12755 | NS      | $138136.65    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Gabelli Divid & Income Tr                                   | GABELLI DVD&INC           | CUSIP: 36242H104<br>LEI: 549300082N1MHBT8NI60 | Long             | EC               | RF                | US        |    584150 | NS      | $14510286.00  | 5.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Thornburg Income Builder Opportunities Trust                | THRNBRG-INC BLDR          | CUSIP: 885213108<br>LEI: 5493002O2SJJPEDP7413 | Long             | EC               | RF                | US        |     14524 | NS      | $269129.72    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Tortoise Sustainable and Social Impact Term Fund            | TORTOISE SU&S IT          | CUSIP: 27901F109<br>LEI: 549300JEEQF7C836SM26 | Long             | EC               | RF                | US        |    181675 | NS      | $2132864.50   | 0.76%             |  |  |  | No            |                  1 | 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      | $7187713.28   | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Multi Asset Income Fund                              | NVN-M/A INC               | CUSIP: 670750108<br>LEI: 549300VLJPKC3DNIJ668 | Long             | EC               | RF                | US        |    636595 | NS      | $7881046.10   | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| NUVEEN PA INVT QUALITY MUN FD                               | NVN-PA QUAL MUNI          | CUSIP: 670972108<br>LEI: 5493000C1CS4Q000GF67 | Long             | EC               | RF                | US        |    347696 | NS      | $3855948.64   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Highland Opportunities & Income Fund                        | HIGHLAND OPPORTU          | CUSIP: 43010E404<br>LEI: 254900CMUE9FRYL2UR80 | Long             | EC               | RF                | US        |    184134 | NS      | $939083.40    | 0.33%             |  |  |  | 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        |    319759 | NS      | $3626067.06   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Templeton Dragon Fund Inc.                                  | TEMP-DRAGON               | CUSIP: 88018T101<br>LEI: 549300L5KGV2K28LYW59 | Long             | EC               | RF                | US        |     40828 | NS      | $386641.16    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Abrdn Japan Equity Fund Inc.                                | ABRDN JAPAN EQ            | CUSIP: 00306J109<br>LEI: 549300TENE1BGI09O157 | Long             | EC               | RF                | US        |    142750 | NS      | $1023517.50   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK MUNIVEST FD II INC                                | BLACKROCK-MUN II          | CUSIP: 09253T101<br>LEI: TC1SINW7C50S8NN8GU32 | Long             | EC               | RF                | US        |     21929 | NS      | $221702.19    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Royce Micro-Cap Trust, Inc.                                 | ROYCE MICRO-CAP           | CUSIP: 780915104<br>LEI: 254900D3WFIV4SD8EF19 | Long             | EC               | RF                | US        |      7831 | NS      | $68521.25     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                      | US 10YR NOTE (CBT)Sep25   | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DIR              | CORP              | US        |      -229 | NC      | $-107127.12   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Virtus Total Return Fund Incorporation                      | VRTS-TTL RTRN             | CUSIP: 92835W107<br>LEI: 549300KKRHI4GF7RNQ81 | Long             | EC               | RF                | US        |      5142 | NS      | $31726.14     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO NEW YORK MUNICIPAL INCOME FUND II                     | PIMCO-NY MUN II           | CUSIP: 72200Y102<br>LEI: P1IBOVZHA4PI2PLT9Q65 | Long             | EC               | RF                | US        |     31488 | NS      | $211914.24    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtus Convertible & Income Fund                            | VIRTUS CONVERTIB          | CUSIP: 92838X805<br>LEI: 549300WT3ICVH2Z06O49 | Long             | EC               | RF                | US        |      4309 | NS      | $57999.14     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Vance New York Municipal Bond Fund                    | EATON VANCE NEW           | CUSIP: 27827Y109<br>LEI: 5493003LD9U89XVQ7W91 | Long             | EC               | RF                | US        |    535515 | NS      | $4921382.85   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| BBH SWEEP VEHICLE                                           | BBH SWEEP VEHICLE         | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |  14542488 | PA      | $14542488.39  | 5.16%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK MUNIYIELD N Y QUALITY FD INC                      | BLKR-MUNIY NY QL          | CUSIP: 09255E102<br>LEI: 158AYFGDRFUGVL3TD012 | Long             | EC               | RF                | US        |       780 | NS      | $7441.20      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Pioneer High Income Fund Inc                                | PIONEER HIGH INCOME TRUST | CUSIP: 72369H106<br>LEI: GRH7C46DLKO4V5KVBT29 | Long             | EC               | RF                | US        |     37503 | NS      | $297398.79    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| First Trust Specia                                          | FT-SPEC FIN               | CUSIP: 33733G109<br>LEI: 549300EQ34T51CUS5O36 | Long             | EC               | RF                | US        |     29821 | NS      | $119880.42    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Ellsworth Growth and Income Fund Ltd                        | ELLSWORTH GROWTH          | CUSIP: 289074106<br>LEI: 549300GYFOXHCDQTI772 | Long             | EC               | RF                | US        |    186638 | NS      | $1825319.64   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW Germany Fund                                            | NEW GERMANY               | CUSIP: 644465106<br>LEI: 549300TPS2RTTJ8O3C08 | Long             | EC               | RF                | US        |    168760 | NS      | $1955928.40   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-27

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

**Signature:** Chris Roleke

**Name of Signer:** Chris Roleke

**Title:** Treasurer