# EDGAR Filing Document

**Accession Number:** 0000945908
**File Stem:** 0000035402-25-000797
**Filing Date:** 2025-9
**Character Count:** 45638
**Document Hash:** e275ccd74eefdc767668aec718ae3940
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000035402-25-000797.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0000035402-25-000797

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY COVINGTON TRUST
- **CENTRAL INDEX KEY:** 0000945908

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07319
- **FILM NUMBER:** 251349351

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

## Series and Classes Contracts Data

### Fidelity Quality Factor ETF (Series ID: S000054753)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000171934 | Fidelity Quality Factor ETF | FQAL            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Fidelity Covington Trust

- **b. Investment Company Act file number:** 811-07319

- **c. CIK number of Registrant:** 0000945908

- **d. LEI of Registrant:** 549300JFYFTF85QAQR28

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

  - **Street Address 1:** 245 Summer Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 1-800-FIDELITY

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

- **a. Name of Series:** Fidelity Quality Factor ETF

- **b. EDGAR series identifier (if any):** S000054753

- **c. LEI of Series:** 549300YOZBUT4838FV71

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

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

- **b. Date as of which information is reported:** 2025-07-31

**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:** $1054391688.09

**Total Liabilities:** $1672909.74

**Net Assets:** $1052718778.35

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000171934 | 5.64%                | 3.80%                | 1.81%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $4373360.31              | $50469638.50                               |
| Month 2  | $7317732.63              | $29670235.44                               |
| Month 3  | $1916595.59              | $16105694.17                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| TEXAS PACIFIC LAND CORP         | TEXAS PACIFIC LAND CORP                       | CUSIP: 88262P102<br>LEI: 529900WTH0D1S7BB4S10 | Long             | EC               | CORP              | US        |      1667 | NS      | $1613872.71   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| THERMO FISHER SCIENTIFIC INC    | THERMO FISHER SCIENTIFIC INC                  | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     17630 | NS      | $8245198.40   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCTER and GAMBLE CO           | PROCTER and GAMBLE CO                         | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     61009 | NS      | $9180024.23   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| EXTRA SPACE STORAGE INC         | EXTRA SPACE STORAGE INC                       | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11467 | NS      | $1540706.12   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX CORP                        | CSX CORP                                      | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |    151109 | NS      | $5370413.86   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| AT and T INC                    | AT and T INC                                  | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    212949 | NS      | $5836932.09   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC                      | ABBVIE INC                                    | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     64284 | NS      | $12150961.68  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| OLD DOMINION FREIGHT LINES INC  | OLD DOMINION FREIGHT LINES INC                | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |     23175 | NS      | $3458868.75   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC                       | APPLE INC                                     | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    292815 | NS      | $60779609.55  | 5.77%             |  |  |  | No            |                  1 | On Loan: No      |
| TRADE DESK INC (THE)            | TRADE DESK INC                                | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |     26330 | NS      | $2289656.80   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL GOLD INC                  | ROYAL GOLD INC                                | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |     10555 | NS      | $1598238.10   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN COMPANY                | SOUTHERN CO                                   | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |     46416 | NS      | $4385383.68   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORP                  | MICROSOFT CORP                                | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    145768 | NS      | $77767228.00  | 7.39%             |  |  |  | No            |                  1 | On Loan: No      |
| LAM RESEARCH CORP               | LAM RESEARCH CORP                             | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     92934 | NS      | $8813860.56   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| PROGRESSIVE CORP OHIO           | PROGRESSIVE CORP OHIO                         | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |     31462 | NS      | $7615062.48   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| S and P GLOBAL INC              | S and P GLOBAL INC                            | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |     15833 | NS      | $8725566.30   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC                        | VISA INC CL A                                 | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     45666 | NS      | $15776233.02  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| KINSALE CAPITAL GROUP INC       | KINSALE CAPITAL GROUP INC                     | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |     11209 | NS      | $4939694.21   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO         | BRISTOL-MYERS SQUIBB CO                       | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |    141764 | NS      | $6139798.84   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| ADOBE INC                       | ADOBE INC                                     | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     20933 | NS      | $7487524.77   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMERCE BANCSHARES INC/MO      | COMMERCE BANCSHARES INC                       | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     78932 | NS      | $4830638.40   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M CO                           | 3M CO                                         | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |     34876 | NS      | $5204196.72   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOZONE INC                    | AUTOZONE INC                                  | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |      2709 | NS      | $10208541.42  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| YUM BRANDS INC                  | YUM BRANDS INC                                | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |     68689 | NS      | $9901519.35   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| KIMBERLY-CLARK CORP             | KIMBERLY CLARK CORP                           | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |     31068 | NS      | $3871694.16   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS INC              | META PLATFORMS INC CL A                       | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     41642 | NS      | $32207588.48  | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY INC              | NEXTERA ENERGY INC                            | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     69182 | NS      | $4916072.92   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| CME GROUP INC                   | CME GROUP INC CL A                            | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |     28101 | NS      | $7819946.28   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| OTIS WORLDWIDE CORP             | OTIS WORLDWIDE CORP                           | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |     47746 | NS      | $4091354.74   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ELECTRONIC ARTS INC             | ELECTRONIC ARTS INC                           | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |     20315 | NS      | $3097834.35   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| RELIANCE INC                    | RELIANCE INC                                  | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |      5706 | NS      | $1655481.78   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE                  | PUBLIC STORAGE                                | CUSIP: 74460D109<br>LEI: 549300LMZF40TKJ6DM64 | Long             | EC               | CORP              | US        |      6748 | NS      | $1835051.12   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL MILLS INC               | GENERAL MILLS INC                             | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |     64438 | NS      | $3156173.24   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| LOWES COS INC                   | LOWES COS INC                                 | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |     42439 | NS      | $9488087.23   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOMATIC DATA PROCESSING INC   | AUTOMATIC DATA PROCESSING INC                 | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |     19702 | NS      | $6097769.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYALTY PHARMA PLC              | ROYALTY PHARMA PLC                            | CUSIP: N/A<br>LEI: 549300FGFN7VOK8BZR03       | Long             | EC               | CORP              | GB        |    207583 | NS      | $7639054.40   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| VULCAN MATERIALS CO             | VULCAN MATERIALS CO                           | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |      7300 | NS      | $2005091.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| UNION PACIFIC CORP              | UNION PACIFIC CORP                            | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     26465 | NS      | $5874436.05   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| AVERY DENNISON CORP             | AVERY DENNISON CORP                           | CUSIP: 053611109<br>LEI: 549300PW7VPFCYKLIV37 | Long             | EC               | CORP              | US        |      8789 | NS      | $1474530.53   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| HOME DEPOT INC                  | HOME DEPOT INC                                | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     37839 | NS      | $13906210.89  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| FASTENAL CO                     | FASTENAL CO                                   | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |    124896 | NS      | $5761452.48   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG ENERGY INC                  | NRG ENERGY INC                                | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |     25581 | NS      | $4277143.20   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| COLGATE-PALMOLIVE CO            | COLGATE-PALMOLIVE CO                          | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     52002 | NS      | $4360367.70   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLOVIN CORP                   | APPLOVIN CORP                                 | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |     19408 | NS      | $7582705.60   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI PPTYS INC                  | VICI PPTYS INC                                | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     58591 | NS      | $1910066.60   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITY RESIDENTIAL              | EQUITY RESIDENTIAL REIT                       | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |     22651 | NS      | $1431543.20   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CINTAS CORP                     | CINTAS CORP                                   | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25156 | NS      | $5598467.80   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOKING HOLDINGS INC            | THE BOOKING HOLDINGS INC                      | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |      2368 | NS      | $13033614.08  | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| PARKER-HANNIFIN CORP            | PARKER HANNIFIN CORP                          | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |      7867 | NS      | $5757857.30   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| OREILLY AUTOMOTIVE INC          | O'REILLY AUTOMOTIVE INC                       | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |    108456 | NS      | $10663393.92  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DOMINOS PIZZA INC               | DOMINOS PIZZA INC                             | CUSIP: 25754A201<br>LEI: 5299004V0Y8MI5D9FF45 | Long             | EC               | CORP              | US        |     19012 | NS      | $8806548.52   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| CORPAY INC                      | CORPAY INC                                    | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |     14736 | NS      | $4760464.80   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| VERISK ANALYTICS INC            | VERISK ANALYTICS INC                          | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |     15686 | NS      | $4371845.06   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANSDIGM GROUP INC             | TRANSDIGM GROUP INC                           | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3976 | NS      | $6395236.96   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| COCA COLA CO                    | COCA COLA CO                                  | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    120268 | NS      | $8164994.52   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| TALEN ENERGY CORP               | TALEN ENERGY CORP                             | CUSIP: 87422Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10497 | NS      | $3963352.29   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| FREEPORT-MCMORAN INC            | FREEPORT MCMORAN INC                          | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     62542 | NS      | $2516690.08   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| CLOROX CO                       | CLOROX CO                                     | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Long             | EC               | CORP              | US        |     24467 | NS      | $3072076.52   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ANTERO MIDSTREAM CORP           | ANTERO MIDSTREAM CORP                         | CUSIP: 03676B102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    120113 | NS      | $2204073.55   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| HERSHEY CO                      | HERSHEY CO (THE)                              | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |     24897 | NS      | $4634078.61   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                    | BROADCOM INC                                  | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |    107600 | NS      | $31602120.00  | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CATERPILLAR INC                 | CATERPILLAR INC                               | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |     19280 | NS      | $8445025.60   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| WILLIAMS COS INC                | WILLIAMS COMPANIES INC                        | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     54333 | NS      | $3257263.35   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CF INDUSTRIES HOLDINGS INC      | CF INDUSTRIES HOLDINGS INC                    | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |     18248 | NS      | $1693961.84   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL FUEL GAS CO NJ         | NATIONAL FUEL GAS CO NJ                       | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     32794 | NS      | $2846191.26   | 0.27%             |  |  |  | No            |                  1 | On Loan: —       |
| QUALCOMM INC                    | QUALCOMM INC                                  | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     52373 | NS      | $7686261.48   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| SHERWIN WILLIAMS CO             | SHERWIN WILLIAMS CO                           | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |      7840 | NS      | $2594099.20   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| INTUITIVE SURGICAL INC          | INTUITIVE SURGICAL INC                        | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |     17007 | NS      | $8181897.63   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLINOIS TOOL WORKS INC         | ILLINOIS TOOL WORKS INC                       | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |     19889 | NS      | $5090987.33   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| FIDELITY NATIONAL FINANCIAL INC | FIDELITY NATIONAL FINL INC                    | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |     94459 | NS      | $5330321.37   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| MONSTER BEVERAGE CORP NEW       | MONSTER BEVERAGE CORP                         | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |     82836 | NS      | $4866615.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| WINGSTOP INC                    | WINGSTOP INC                                  | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |     27918 | NS      | $10534578.12  | 1.00%             |  |  |  | No            |                  1 | On Loan: —       |
| BERKSHIRE HATHAWAY INC DEL      | BERKSHIRE HATHAWAY INC CL B                   | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |     43585 | NS      | $20566889.80  | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| KINDER MORGAN INC DEL           | KINDER MORGAN INC                             | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |    101557 | NS      | $2849689.42   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC      | VERIZON COMMUNICATIONS INC                    | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    126960 | NS      | $5428809.60   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILIP MORRIS INTERNATIONAL INC | PHILIP MORRIS INTL INC                        | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     52397 | NS      | $8595727.85   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| SALESFORCE INC                  | SALESFORCE INC                                | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     33470 | NS      | $8646305.10   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust    | Fidelity Cash Central Fund                    | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |   1521982 | NS      | $1522286.03   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| LOCKHEED MARTIN CORP            | LOCKHEED MARTIN CORP                          | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |     12288 | NS      | $5173002.24   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| REALTY INCOME CORP              | REALTY INCOME CORP REIT                       | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |     37449 | NS      | $2102012.37   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKSTONE INC                  | BLACKSTONE INC                                | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |     42814 | NS      | $7405109.44   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCH INC     | SP500 MIC EMIN FUTSEP25 HWAU5                 | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DE               | CORP              | US        |        68 | NC      | $77253.63     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORP                | EXXON MOBIL CORP                              | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     94882 | NS      | $10592626.48  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| WILLIAMS-SONOMA INC             | WILLIAMS-SONOMA INC                           | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |     42178 | NS      | $7889394.90   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| PALO ALTO NETWORKS INC          | PALO ALTO NETWORKS INC                        | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |     42349 | NS      | $7351786.40   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTRACKER INC                  | NEXTRACKER INC CL A                           | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     84530 | NS      | $4924717.80   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| MCDONALDS CORP                  | MCDONALDS CORP                                | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     41681 | NS      | $12507217.67  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| COPART INC                      | COPART INC                                    | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |     81017 | NS      | $3672500.61   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEVRON CORP NEW                | CHEVRON CORP                                  | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41804 | NS      | $6339158.56   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA CORP                        | KLA CORP                                      | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      9940 | NS      | $8737558.20   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC ENERGY GROUP INC            | WEC ENERGY GROUP INC                          | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |     28039 | NS      | $3058494.12   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX LABORATORIES INC          | IDEXX LABS INC                                | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |     14932 | NS      | $7978316.92   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| ARISTA NETWORKS INC             | ARISTA NETWORKS INC                           | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     68039 | NS      | $8383765.58   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| NETFLIX INC                     | NETFLIX INC                                   | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      9658 | NS      | $11197485.20  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES INC               | EOG RESOURCES INC                             | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     24542 | NS      | $2945530.84   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| EAGLE MATLS INC                 | EAGLE MATERIALS INC                           | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |      5922 | NS      | $1328245.38   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI INC                        | MSCI INC                                      | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |     10402 | NS      | $5839266.72   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust    | Fidelity Securities Lending Cash Central Fund | CUSIP: 31635A303<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |   1533922 | NS      | $1534075.01   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATERIALS INC           | APPLIED MATERIALS INC                         | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |     46420 | NS      | $8358385.20   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| ECOLAB INC                      | ECOLAB INC                                    | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |      9915 | NS      | $2595350.40   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| FAIR ISAAC CORPORATION          | FAIR ISAAC CORP                               | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |      3540 | NS      | $5085988.80   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORP                     | NVIDIA CORP                                   | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    481097 | NS      | $85572723.39  | 8.13%             |  |  |  | No            |                  1 | On Loan: No      |
| VEEVA SYS INC                   | VEEVA SYS INC CL A                            | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |     29043 | NS      | $8254020.60   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE and CO           | JPMORGAN CHASE and CO                         | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     69334 | NS      | $20539504.16  | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTERCARD INC                  | MASTERCARD INC CL A                           | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     23802 | NS      | $13483118.94  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ESSEX PROPERTY TRUST INC        | ESSEX PROPERTY TRUST INC                      | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |      5180 | NS      | $1347732.40   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYCHEX INC                     | PAYCHEX INC                                   | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |     31170 | NS      | $4498766.10   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| METTLER-TOLEDO INTL INC         | METTLER-TOLEDO INTL INC                       | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |      5006 | NS      | $6175802.08   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA COMMUNICATIONS CORP         | SBA COMMUNICATIONS CORP                       | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |      7777 | NS      | $1747647.44   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| AIRBNB INC                      | AIRBNB INC CLASS A                            | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |     72221 | NS      | $9562782.61   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| GRAINGER (W.W.) INC             | WW GRAINGER INC                               | CUSIP: 384802104<br>LEI: 549300TWZSP6O1IH2V34 | Long             | EC               | CORP              | US        |      4472 | NS      | $4648822.88   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| GILEAD SCIENCES INC             | GILEAD SCIENCES INC                           | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     85492 | NS      | $9599896.68   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| NETAPP INC                      | NETAPP INC                                    | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |     50064 | NS      | $5213164.32   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC          | UNITEDHEALTH GROUP INC                        | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     28022 | NS      | $6993170.32   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| UST BILLS                       | UST BILLS 0% 08/21/2025                       | CUSIP: 912797PP6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    165000 | PA      | $164606.20    | 0.02%             | 2025-08-21      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SIMON PROPERTY GROUP INC        | SIMON PPTY GROUP INC - REIT                   | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     12111 | NS      | $1983660.69   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ALTRIA GROUP INC                | ALTRIA GROUP INC                              | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |     91865 | NS      | $5690118.10   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN TOWER CORP             | AMERICAN TOWER CORP                           | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     14658 | NS      | $3054580.62   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| EAST WEST BANCORP INC           | EAST WEST BANCORP INC                         | CUSIP: 27579R104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     54214 | NS      | $5434953.50   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON and JOHNSON             | JOHNSON and JOHNSON                           | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     83535 | NS      | $13761555.90  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA CORP                     | VISTRA CORP                                   | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |     19228 | NS      | $4009807.12   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| MOODYS CORP                     | MOODYS CORP                                   | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |     13345 | NS      | $6882416.85   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERIPRISE FINL INC             | AMERIPRISE FINANCIAL INC                      | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |     11468 | NS      | $5942602.92   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| PROLOGIS INC                    | PROLOGIS INC REIT                             | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     26469 | NS      | $2826359.82   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| LINDE PLC                       | LINDE PLC                                     | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | IE        |     11440 | NS      | $5265374.40   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| AVALONBAY COMMUNITIES INC       | AVALONBAY COMMUNITIES INC REIT                | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |      7848 | NS      | $1461925.44   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                    | ALPHABET INC CL A                             | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    199881 | NS      | $38357163.90  | 3.64%             |  |  |  | No            |                  1 | On Loan: No      |
| CHENIERE ENERGY INC             | CHENIERE ENERGY INC                           | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |     12047 | NS      | $2841646.36   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| LAMAR ADVERTISING CO            | LAMAR ADVERTISING CO CL A                     | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |     11015 | NS      | $1346583.75   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-30

**Name of Applicant:** Stacie M. Smith

**Signature:** Stacie M. Smith

**Name of Signer:** Stacie M. Smith

**Title:** President and Treasurer