# EDGAR Filing Document

**Accession Number:** 0002013968
**File Stem:** 0000910472-26-001691
**Filing Date:** 2026-2
**Character Count:** 63452
**Document Hash:** 82065f3fd5e0f5ac8feac9ab37b844b1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-001691.hdr.sgml**: 20260219

**ACCESSION NUMBER**: 0000910472-26-001691

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260219

**DATE AS OF CHANGE**: 20260219

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** New Age Alpha Variable Funds Trust
- **CENTRAL INDEX KEY:** 0002013968

**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:** 811-23944
- **FILM NUMBER:** 26652563

**BUSINESS ADDRESS:**
- **STREET 1:** 555 THEODORE FREMD AVENUE
- **STREET 2:** SUITE A-101
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580
- **BUSINESS PHONE:** 212-922-2699

**MAIL ADDRESS:**
- **STREET 1:** 555 THEODORE FREMD AVENUE
- **STREET 2:** SUITE A-101
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580

## Series and Classes Contracts Data

### NAA WORLD EQUITY INCOME SERIES (Series ID: S000087640)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000253508 | NAA WORLD EQUITY INCOME SERIES |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** New Age Alpha Variable Funds Trust

- **b. Investment Company Act file number:** 811-23944

- **c. CIK number of Registrant:** 0002013968

- **d. LEI of Registrant:** 5299000HTJBNEG1Y8820

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

  - **Street Address 1:** 555 Theodore Fremd Avenue

  - **City:** Rye

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10580

  - **Telephone number:** 212-922-2699

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

- **a. Name of Series:** NAA WORLD EQUITY INCOME SERIES

- **b. EDGAR series identifier (if any):** S000087640

- **c. LEI of Series:** 529900U9UZJCVIPSBD84

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

- **a. Date of fiscal year-end:** 2025-12-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $118952012.01

**Total Liabilities:** $459142.78

**Net Assets:** $118492869.23

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000253508 | 0.71%                | 3.26%                | 1.07%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $527991.71               | $278372.24                                 |
| Month 2  | $4088.47                 | $3634345.74                                |
| Month 3  | $4900287.28              | $-3778185.00                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Ashtead Group PLC                              | Ashtead Group plc                                  | CUSIP: G05320109<br>LEI: 2138007UTBN8X9K1A235 | Long             | EC               | CORP              | GB        |      3921 | NS      | $268824.47    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| The Allstate Corporation                       | Allstate Corporation (The)                         | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |      1256 | NS      | $261436.40    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE Systems PLC                                | BAE Systems plc                                    | CUSIP: G06940103<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |     29566 | NS      | $683123.14    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tobacco PLC                   | British American Tobacco plc                       | CUSIP: G1510J102<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |     20722 | NS      | $1177122.90   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Works Company, Inc.             | American Water Works Company, Inc.                 | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |       969 | NS      | $126454.50    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                                     | Amgen, Inc.                                        | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      2617 | NS      | $856570.27    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Games Workshop Group PLC                       | Games Workshop Group plc                           | CUSIP: G3715N102<br>LEI: 213800RP9QJQYGWHNT41 | Long             | EC               | CORP              | GB        |       540 | NS      | $137724.28    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Management Corporation                    | Ares Management Corporation Class A                | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Long             | EC               | CORP              | US        |      1038 | NS      | $167771.94    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Imperial Brands PLC                            | Imperial Brands plc                                | CUSIP: G4720C107<br>LEI: 549300DFVPOB67JL3A42 | Long             | EC               | CORP              | GB        |      7734 | NS      | $325173.50    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities, Inc.                    | AvalonBay Communities, Inc. REIT                   | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |       711 | NS      | $128911.41    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC Holdings PLC                              | HSBC HOLDINGS PLC                                  | CUSIP: G4634U169<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EC               | CORP              | GB        |    164215 | NS      | $2598379.24   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Legal & General Group PLC                      | Legal & General Group plc                          | CUSIP: G54404127<br>LEI: 213800JH9QQWHLO99821 | Long             | EC               | CORP              | GB        |     55296 | NS      | $195220.23    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon Corp.              | Bank of New York Mellon Corporation (The)          | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |      3481 | NS      | $404109.29    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton, Dickinson and Company                  | Becton Dickinson & Company                         | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |      1377 | NS      | $267234.39    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| W.R. Berkley Corporation                       | W R Berkley Corporation                            | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |      1702 | NS      | $119344.24    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadridge Financial Solutions Inc.            | Broadridge Financial Solutions, Inc.               | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               | CORP              | US        |       568 | NS      | $126760.56    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                                   | Broadcom, Inc.                                     | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     29211 | NS      | $10109927.10  | 8.53%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp                                       | CDW Corp                                           | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |       827 | NS      | $112637.40    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| The Cigna Group                                | Cigna Group (The)                                  | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      1301 | NS      | $358074.23    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                                | CVS Health Corporation                             | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |      6374 | NS      | $505840.64    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp.                                  | Chevron Corporation                                | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9487 | NS      | $1445913.67   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                            | Cisco Systems, Inc.                                | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     20324 | NS      | $1565557.72   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corporation                             | Cintas Corporation                                 | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1650 | NS      | $310315.50    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                                 | Citigroup, Inc.                                    | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |      8623 | NS      | $1006217.87   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co (The)                             | Coca-Cola Company (The)                            | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     19222 | NS      | $1343810.02   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions Corp.           | Cognizant Technology Solutions Corporation Class A | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      2384 | NS      | $197872.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd                         | Agnico Eagle Mines Ltd.                            | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |      6977 | NS      | $1183157.52   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Nova Scotia                            | Bank of Nova Scotia (The)                          | CUSIP: 064149107<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | EC               | CORP              | CA        |     16160 | NS      | $1191834.88   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank of Canada                        | National Bank of Canada                            | CUSIP: 633067103<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | EC               | CORP              | CA        |      5064 | NS      | $636832.39    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands, Inc.                     | Constellation Brands, Inc. Class A                 | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |       840 | NS      | $115886.40    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Communications Inc.                     | Rogers Communications, Inc.                        | CUSIP: 775109200<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | EC               | CORP              | CA        |      5680 | NS      | $214401.31    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Corning Incorporated                           | Corning, Inc.                                      | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |      4051 | NS      | $354705.56    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Open Text Corp                                 | Open Text Corporation                              | CUSIP: 683715106<br>LEI: 549300HP7ONDQODZJV16 | Long             | EC               | CORP              | CA        |      4870 | NS      | $158599.56    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Co.                                 | DTE Energy Company                                 | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |      1090 | NS      | $140588.20    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc.                           | Delta Air Lines, Inc.                              | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |      3164 | NS      | $219581.60    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Company                            | Walt Disney Company (The)                          | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      8505 | NS      | $967613.85    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Magna International Inc                        | Magna International, Inc.                          | CUSIP: 559222401<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | EC               | CORP              | CA        |      3865 | NS      | $206038.34    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                               | Duke Energy Corporation                            | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |      3804 | NS      | $445866.84    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Dupont De Nemours Inc                          | DuPont de Nemours, Inc.                            | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |      2880 | NS      | $115776.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab Inc.                                    | Ecolab, Inc.                                       | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |      1200 | NS      | $315024.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix, Inc.                                  | Equinix, Inc. REIT                                 | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |       489 | NS      | $374652.24    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust, Inc.                     | Essex Property Trust, Inc. REIT                    | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |       449 | NS      | $117494.32    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp.                                   | Exelon Corporation                                 | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |      5045 | NS      | $219911.55    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Expeditors International Of Washington Inc.    | Expeditors International of Washington, Inc.       | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |       784 | NS      | $116823.84    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                              | Exxon Mobil Corporation                            | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     21390 | NS      | $2574072.60   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| FactSet Research Systems Inc.                  | FactSet Research Systems, Inc.                     | CUSIP: 303075105<br>LEI: 549300ZSJE7NBK6K9P30 | Long             | EC               | CORP              | US        |       423 | NS      | $122750.37    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp.                              | FirstEnergy Corporation                            | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |      2629 | NS      | $117700.33    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Company                             | Ford Motor Company                                 | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |     19346 | NS      | $253819.52    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corporation                                | Fox Corporation Non-Voting                         | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |      1640 | NS      | $119834.80    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc.                          | Freeport-McMoRan, Inc.                             | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |      6622 | NS      | $336331.38    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corporation                   | General Dynamics Corporation                       | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |      1247 | NS      | $419815.02    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Company                         | General Motors Company                             | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |      4479 | NS      | $364232.28    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Genuine Parts Co                               | Genuine Parts Company                              | CUSIP: 372460105<br>LEI: 549300D46DQVEU651W04 | Long             | EC               | CORP              | US        |       924 | NS      | $113615.04    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc.                           | Gilead Sciences, Inc.                              | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      6094 | NS      | $747977.56    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.                      | Goldman Sachs Group, Inc. (The)                    | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      1482 | NS      | $1302678.00   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton SE            | LVMH Moet Hennessy Louis Vuitton S.E.              | CUSIP: F58485115<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |      2116 | NS      | $1603406.95   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Intesa Sanpaolo S.p.A.                         | Intesa Sanpaolo SpA                                | CUSIP: T55067101<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | EC               | CORP              | IT        |    142588 | NS      | $991850.98    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| D'Ieteren Group                                | D'ieteren Group                                    | CUSIP: B49343187<br>LEI: 549300DV5KJ23OKVTW34 | Long             | EC               | CORP              | BE        |      3462 | NS      | $625941.96    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc.                                | Home Depot, Inc. (The)                             | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      4740 | NS      | $1631034.00   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc.                                    | Humana, Inc.                                       | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |       581 | NS      | $148811.53    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Hannover Rueck SE                              | Hannover Rueck S.E.                                | CUSIP: D3015J135<br>LEI: 529900KIN5BE45V5KB18 | Long             | EC               | CORP              | DE        |       772 | NS      | $241431.39    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc                  | Intercontinental Exchange, Inc.                    | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |      2768 | NS      | $448305.28    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corp.          | International Business Machines Corporation        | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      4876 | NS      | $1444319.96   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc.                          | Invitation Homes, Inc.                             | CUSIP: 46187W107<br>LEI: 984500FE452E665C9F85 | Long             | EC               | CORP              | US        |      4316 | NS      | $119941.64    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                  | iShares MSCI EAFE ETF                              | CUSIP: 464287465<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      7437 | NS      | $714175.11    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                           | JPMorgan Chase & Company                           | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     12957 | NS      | $4175004.54   | 3.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                              | Johnson & Johnson                                  | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     11445 | NS      | $2368542.75   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Swedbank AB (publ)                             | Swedbank A.B.                                      | CUSIP: W94232100<br>LEI: M312WZV08Y7LYUC71685 | Long             | EC               | CORP              | SE        |     18304 | NS      | $638387.25    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corporation                       | Lam Research Corporation                           | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      6357 | NS      | $1088191.26   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Orange SA                                      | Orange S.A.                                        | CUSIP: F6866T100<br>LEI: 969500MCOONR8990S771 | Long             | EC               | CORP              | FR        |     20256 | NS      | $337917.29    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Allianz SE                                     | Allianz S.E.                                       | CUSIP: D03080112<br>LEI: 529900K9B0N5BT694847 | Long             | EC               | CORP              | DE        |      3754 | NS      | $1722200.42   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp.                                   | Lennar Corporation Class A                         | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |      1181 | NS      | $121406.80    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA             | Banco Bilbao Vizcaya Argentaria S.A.               | CUSIP: E11805103<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |     78803 | NS      | $1856203.18   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI Inc.                                      | MSCI, Inc.                                         | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |       352 | NS      | $201952.96    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                                      | Sanofi S.A.                                        | CUSIP: F5548N101<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |      9311 | NS      | $904847.18    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International, Inc.                   | Marriott International Inc Class A                 | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |      1030 | NS      | $319547.20    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                                     | Siemens A.G.                                       | CUSIP: D69671218<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |      7140 | NS      | $2006027.96   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc                               | Merck & Company, Inc.                              | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     11986 | NS      | $1261646.36   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Asahi Group Holdings Ltd                       | Asahi Group Holdings Ltd.                          | CUSIP: J02100113<br>LEI: 353800KAJ02XNHLCJW79 | Long             | EC               | CORP              | JP        |     28000 | NS      | $293087.49    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                 | Morgan Stanley                                     | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      6173 | NS      | $1095892.69   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions Inc                         | Motorola Solutions, Inc.                           | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |       820 | NS      | $314322.40    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| KDDI Corp                                      | KDDI Corporation                                   | CUSIP: J31843105<br>LEI: 5299003FU7V4I45FU310 | Long             | EC               | CORP              | JP        |     45836 | NS      | $792616.99    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy, Inc.                               | NRG Energy, Inc.                                   | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |      1055 | NS      | $167998.20    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group Inc.            | Mitsubishi UFJ Financial Group, Inc.               | CUSIP: J44497105<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               | CORP              | JP        |    197332 | NS      | $3140853.07   | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Real Estate Investment Corp.             | Japan Real Estate Investment Corporation           | CUSIP: J27523109<br>LEI: 3538003YAIR3CBGJJ928 | Long             | EC               | CORP              | JP        |       139 | NS      | $116166.87    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| NetApp Inc.                                    | NetApp, Inc.                                       | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |      1072 | NS      | $114800.48    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Trust Group Inc.               | Sumitomo Mitsui Trust Group, Inc.                  | CUSIP: J7772M102<br>LEI: 353800P843RLCDBLNT17 | Long             | EC               | CORP              | JP        |     11400 | NS      | $347686.57    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokio Marine Holdings Inc.                     | Tokio Marine Holdings, Inc.                        | CUSIP: J86298106<br>LEI: 5299009QN2NZ191KLS29 | Long             | EC               | CORP              | JP        |     29396 | NS      | $1091729.71   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corporation                            | Newmont Corporation                                | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |      5185 | NS      | $517722.25    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| NiSource Inc.                                  | NiSource, Inc.                                     | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |      2845 | NS      | $118807.20    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Mizuho Financial Group Inc.                    | Mizuho Financial Group, Inc.                       | CUSIP: J4599L102<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | EC               | CORP              | JP        |     40152 | NS      | $1461200.67   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Steel Corp.                             | Nippon Steel Corporation                           | CUSIP: J55678106<br>LEI: 35380065QWQ4U2V3PA33 | Long             | EC               | CORP              | JP        |     91100 | NS      | $373289.62    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Sekisui House Ltd                              | Sekisui House Ltd.                                 | CUSIP: J70746136<br>LEI: 529900GMNDOYQSAJAE76 | Long             | EC               | CORP              | JP        |      9529 | NS      | $212811.43    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicom Group Inc                              | Omnicom Group, Inc.                                | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |      1431 | NS      | $115553.25    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp.                               | Sony Group Corporation                             | CUSIP: J76379106<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |    113692 | NS      | $2920893.37   | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Electric Industries Ltd.              | Sumitomo Electric Industries Ltd.                  | CUSIP: J77411114<br>LEI: 5493005SP87FL5TOS202 | Long             | EC               | CORP              | JP        |     13232 | NS      | $534335.28    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Boerse AG                             | Deutsche Boerse A.G.                               | CUSIP: D1882G119<br>LEI: 529900G3SW56SHYNPR95 | Long             | EC               | CORP              | DE        |      1961 | NS      | $515361.49    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Axa SA                                         | AXA S.A.                                           | CUSIP: F06106102<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |     13551 | NS      | $652078.20    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                    | Novartis A.G.                                      | CUSIP: H5820Q150<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |     13648 | NS      | $1888233.48   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| ABB Ltd.                                       | ABB Ltd.                                           | CUSIP: H0010V101<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |     11496 | NS      | $859391.96    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Holcim AG                                      | Holcim A.G.                                        | CUSIP: H3816Q102<br>LEI: 529900EHPFPYHV6IQO98 | Long             | EC               | CORP              | CH        |      3683 | NS      | $361521.47    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle SA                                      | Nestle S.A.                                        | CUSIP: H57312649<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |     19102 | NS      | $1898673.89   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico Inc                                    | PepsiCo, Inc.                                      | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      6604 | NS      | $947806.08    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                                 | BNP Paribas S.A.                                   | CUSIP: F1058Q238<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |      7742 | NS      | $734816.94    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| The Procter & Gamble Co.                       | Procter & Gamble Company (The)                     | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     11201 | NS      | $1605215.31   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| The Progressive Corporation                    | Progressive Corporation (The)                      | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |      2939 | NS      | $669269.08    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Swiss Life Holding AG                          | Swiss Life Holding A.G.                            | CUSIP: H8404J162<br>LEI: 5493000KUC3Z24U77V93 | Long             | EC               | CORP              | CH        |       206 | NS      | $238406.42    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Service Enterprise Group Incorporated   | Public Service Enterprise Group, Inc.              | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |      2477 | NS      | $198903.10    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp.                                      | RTX Corporation                                    | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |      6398 | NS      | $1173393.20   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corporation                      | Realty Income Corporation REIT                     | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |      4513 | NS      | $254397.81    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Rollins Inc                                    | Rollins, Inc.                                      | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               | CORP              | US        |      1932 | NS      | $115958.64    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores Inc                                | Ross Stores, Inc.                                  | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |      1534 | NS      | $276334.76    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Spdr S and P 500 Etf Trust        | SPDR S&P 500 ETF Trust                             | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             | EC               | RF                | US        |      1213 | NS      | $827168.96    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                       | Simon Property Group, Inc. REIT                    | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |      1585 | NS      | $293399.35    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co.                                   | Southern Company (The)                             | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |      5395 | NS      | $470444.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co.                         | Southwest Airlines Company                         | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |      2831 | NS      | $117005.23    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corporation                            | Stryker Corporation                                | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |      1673 | NS      | $588009.31    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| The TJX Companies Inc.                         | TJX Companies, Inc. (The)                          | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |      5490 | NS      | $843318.90    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Transdigm Group Inc.                           | TransDigm Group, Inc.                              | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       299 | NS      | $397625.15    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Companies, Inc.                      | Travelers Companies, Inc. (The)                    | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |      1052 | NS      | $305143.12    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corporation                      | Union Pacific Corporation                          | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |      2890 | NS      | $668514.80    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Index Funds                           | Vanguard S&P 500 ETF                               | CUSIP: 922908363<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |      1319 | NS      | $827184.47    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Verisign, Inc.                                 | VeriSign, Inc.                                     | CUSIP: 92343E102<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | EC               | CORP              | US        |       479 | NS      | $116373.05    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc.                    | Verizon Communications, Inc.                       | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     20787 | NS      | $846654.51    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Vici Properties Inc                            | VICI Properties, Inc.                              | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |      5416 | NS      | $152297.92    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                                    | Walmart, Inc.                                      | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     21869 | NS      | $2436425.29   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Management, Inc.                         | Waste Management, Inc.                             | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |      1768 | NS      | $388447.28    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Xylem, Inc.                                    | Xylem Inc                                          | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |      1194 | NS      | $162598.92    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Yum! Brands Inc.                               | Yum! Brands, Inc.                                  | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |      1297 | NS      | $196210.16    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc.                                    | Zoetis, Inc.                                       | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |      2074 | NS      | $260950.68    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| TERNA - Rete Elettrica Nazionale S.p.A.        | Terna - Rete Elettrica Nazionale                   | CUSIP: T9471R100<br>LEI: 8156009E94ED54DE7C31 | Long             | EC               | CORP              | IT        |     19201 | NS      | $204236.20    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Al Sydbank AS                                  | AL Sydbank                                         | CUSIP: K9419V113<br>LEI: GP5DT10VX1QRQUKVBK64 | Long             | EC               | CORP              | DK        |      6483 | NS      | $581449.62    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunzl PLC                                      | Bunzl plc                                          | CUSIP: G16968110<br>LEI: 213800Q1Q9DV4L78UM09 | Long             | EC               | CORP              | GB        |      3296 | NS      | $92238.06     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                               | TotalEnergies S.E.                                 | CUSIP: F92124100<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     17779 | NS      | $1161107.39   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Orion Oyj                                      | Orion OYJ Class B                                  | CUSIP: X6002Y112<br>LEI: 74370029VAHCXDR7B745 | Long             | EC               | CORP              | FI        |      1975 | NS      | $147684.15    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Severn Trent PLC                               | Severn Trent plc                                   | CUSIP: G8056D159<br>LEI: 213800RPBXRETY4A4C59 | Long             | EC               | CORP              | GB        |      2864 | NS      | $107675.56    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Volvo AB                                       | Volvo A.B. B Shares                                | CUSIP: 928856301<br>LEI: 549300HGV012CNC8JD22 | Long             | EC               | CORP              | SE        |     32022 | NS      | $1029179.94   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Hoshizaki Corp.                                | Hoshizaki Corporation                              | CUSIP: J23254105<br>LEI: 5299001QAMLGU3SRBG20 | Long             | EC               | CORP              | JP        |      3400 | NS      | $113160.40    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Julius Baer Group AG                           | Julius Baer Group Ltd.                             | CUSIP: H4414N103<br>LEI: 5299007MF0604ZGJER92 | Long             | EC               | CORP              | CH        |      2735 | NS      | $215435.89    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| SEGRO PLC                                      | Segro plc                                          | CUSIP: G80277141<br>LEI: 213800XC35KGM9NFC641 | Long             | EC               | CORP              | GB        |     13792 | NS      | $133935.77    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                            | BBH Overnight Sweep                                | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | CORP              | US        |    631923 | PA      | $631922.54    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold Delhaize NV                  | Koninklijke Ahold Delhaize N.V.                    | CUSIP: N0074E105<br>LEI: 724500C9GNBV20UYRX36 | Long             | EC               | CORP              | NL        |     10125 | NS      | $414777.67    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Ireland Group PLC                      | Bank of Ireland Group plc                          | CUSIP: G0756R109<br>LEI: 635400C8EK6DRI12LJ39 | Long             | EC               | CORP              | IE        |     15927 | NS      | $306396.42    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens Healthineers AG                        | Siemens Healthineers A.G.                          | CUSIP: D6T479107<br>LEI: 529900QBVWXMWANH7H45 | Long             | EC               | CORP              | DE        |      4053 | NS      | $213887.17    | 0.18%             |  |  |  | Yes           |                  1 | On Loan: No      |
| SoftBank Corp                                  | SoftBank Corporation                               | CUSIP: J75963132<br>LEI: 353800M1YCTS9JRBJ535 | Long             | EC               | CORP              | JP        |    481352 | NS      | $660123.03    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Thomson Reuters Corp                           | Thomson Reuters Corporation                        | CUSIP: 884903808<br>LEI: 549300561UZND4C7B569 | Long             | EC               | CORP              | CA        |      1870 | NS      | $246772.92    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TC Energy Corp                                 | TC Energy Corporation                              | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |     14089 | NS      | $775804.96    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolution AB                                   | Evolution A.B.                                     | CUSIP: W3287P115<br>LEI: 549300SUH6ZR1RF6TA88 | Long             | EC               | CORP              | SE        |      3166 | NS      | $216576.57    | 0.18%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Tesco PLC                                      | Tesco plc                                          | CUSIP: G8T67X102<br>LEI: 2138002P5RNKC5W2JZ46 | Long             | EC               | CORP              | GB        |     67905 | NS      | $404411.10    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Pacific Kansas City Ltd.              | Canadian Pacific Kansas City                       | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     12047 | NS      | $886912.40    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| DnB Bank ASA                                   | DNB Bank ASA                                       | CUSIP: R1R15X100<br>LEI: 549300GKFG0RYRRQ1414 | Long             | EC               | CORP              | NO        |     22159 | NS      | $618847.96    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Merlin Properties Socimi SA                    | Merlin Properties Socimi, S.A.                     | CUSIP: E7390Z100<br>LEI: 959800L8KD863DP30X04 | Long             | EC               | CORP              | ES        |     10852 | NS      | $158470.82    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Compagnie Generale des Etablissements Michelin | Cie Generale des Etablissements Michelin           | CUSIP: F61824870<br>LEI: 549300SOSI58J6VIW052 | Long             | EC               | CORP              | FR        |      8518 | NS      | $283299.55    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                   | UBS Group A.G.                                     | CUSIP: H42097107<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EC               | CORP              | CH        |     19180 | NS      | $894863.29    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Aena SME S.A.                                  | Aena S.M.E. SA                                     | CUSIP: E526LK101<br>LEI: 959800R7QMXKF0NFMT29 | Long             | EC               | CORP              | ES        |     10200 | NS      | $285437.03    | 0.24%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Spirax Group PLC                               | Spirax Group plc                                   | CUSIP: G83561129<br>LEI: 213800WFVZQMHOZP2W17 | Long             | EC               | CORP              | GB        |      1307 | NS      | $120158.80    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Unibrew A/S                              | Royal Unibrew A/S                                  | CUSIP: K8390X122<br>LEI: 529900D69KFL8IAP8Q63 | Long             | EC               | CORP              | DK        |      5265 | NS      | $475937.16    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Svenska Handelsbanken AB                       | Svenska Handelsbanken A.B.                         | CUSIP: W9112U104<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | EC               | CORP              | SE        |     32655 | NS      | $476524.52    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| UniCredit S.p.A.                               | UniCredit SpA                                      | CUSIP: T9T23L642<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |     13365 | NS      | $1113540.65   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Beazley PLC (UK)                               | Beazley plc                                        | CUSIP: G0936K107<br>LEI: 213800VTOMUWD41GIT12 | Long             | EC               | CORP              | GB        |      9476 | NS      | $106278.15    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Connections Inc.                         | Waste Connections, Inc.                            | CUSIP: 94106B101<br>LEI: 549300ZX1Z8QGWASPX54 | Long             | EC               | CORP              | CA        |      3549 | NS      | $622420.19    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Nordea Bank ABP                                | Nordea Bank Abp                                    | CUSIP: X5S8VL105<br>LEI: 529900ODI3047E2LIV03 | Long             | EC               | CORP              | FI        |     41830 | NS      | $790333.14    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| ING Groep N.V.                                 | ING GROEP                                          | CUSIP: N4578E595<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EC               | CORP              | NL        |     30627 | NS      | $863903.04    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                                  | Accenture plc Class A                              | CUSIP: G1151C101<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |      3121 | NS      | $837364.30    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Europacific Partners PLC             | Coca-Cola Europacific Partners plc                 | CUSIP: G25839104<br>LEI: 549300LTH67W4GWMRF57 | Long             | EC               | CORP              | GB        |      2170 | NS      | $196819.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group Ltd                              | Everest Group Ltd.                                 | CUSIP: G3223R108<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |       358 | NS      | $121487.30    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                                  | Medtronic plc                                      | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |      6419 | NS      | $616609.14    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagate Technology Holdings PLC                | Seagate Technology Holdings plc (Ireland)          | CUSIP: G7997R103<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               | CORP              | US        |      1052 | NS      | $289710.28    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Smurfit WestRock plc                           | Smurfit WestRock plc                               | CUSIP: G8267P108<br>LEI: 635400EGSEOPDW2EXS14 | Long             | EC               | CORP              | IE        |      3087 | NS      | $119374.29    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC                         | Trane Technologies plc                             | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |      1149 | NS      | $447190.80    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd.                                     | Chubb Ltd.                                         | CUSIP: H1467J104<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |      1778 | NS      | $554949.36    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Garmin Ltd                                     | Garmin Ltd.                                        | CUSIP: H2906T109<br>LEI: 2549001E0HIPIJQ0W046 | Long             | EC               | CORP              | CH        |       808 | NS      | $163902.80    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Caribbean Group                          | Royal Caribbean Cruises Ltd.                       | CUSIP: V7780T103<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | US        |      1101 | NS      | $307090.92    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-26

**Name of Applicant:** New Age Alpha Variable Funds Trust

**Signature:** Keith D. Kemp

**Name of Signer:** Keith D. Kemp

**Title:** President