# EDGAR Filing Document

**Accession Number:** 0001592900
**File Stem:** 0001592900-25-001676
**Filing Date:** 2025-6
**Character Count:** 29260
**Document Hash:** 3363c098c5cf1410e0ec2c0d6fe2bb68
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001592900-25-001676.hdr.sgml**: 20250627

**ACCESSION NUMBER**: 0001592900-25-001676

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250627

**DATE AS OF CHANGE**: 20250627

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EA Series Trust
- **CENTRAL INDEX KEY:** 0001592900

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22961
- **FILM NUMBER:** 251084740

**BUSINESS ADDRESS:**
- **STREET 1:** 19 E EAGLE ROAD
- **CITY:** HAVERTOWN
- **STATE:** PA
- **ZIP:** 19083
- **BUSINESS PHONE:** 1.215.882.9983

**MAIL ADDRESS:**
- **STREET 1:** 19 E EAGLE ROAD
- **CITY:** HAVERTOWN
- **STATE:** PA
- **ZIP:** 19083

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Alpha Architect ETF Trust
- **DATE OF NAME CHANGE:** 20140428

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Empowered Funds ETF Trust
- **DATE OF NAME CHANGE:** 20131125

## Series and Classes Contracts Data

### Bushido Capital US Equity ETF (Series ID: S000080670)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000243188 | Bushido Capital US Equity ETF | SMRI            |

## Nport-Ex

---

| |
|:---|
| **BUSHIDO CAPITAL US EQUITY ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **April 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.9%** | **Shares** | **Value**  |
| **Apparel, Accessories & Luxury Goods - 2.0%** | |  |
| Tapestry, Inc.  | 114519 | $8090767 |
| **Application Software - 4.0%** |  |  |
| Docusign, Inc. <sup>(a)</sup> | 94714 | 7742869 |
| Zoom Communications, Inc. - Class A <sup>(a)</sup> | 107920 | 8368117 |
|  |  | 16110986 |
| **Automotive Parts & Equipment - 1.8%** |  |  |
| Aptiv PLC <sup>(a)</sup> | 131674 | 7513319 |
| **Biotechnology - 6.1%** |  |  |
| Amgen, Inc.  | 27466 | 7990409 |
| Incyte Corp. <sup>(a)</sup> | 136117 | 8529091 |
| United Therapeutics Corp. <sup>(a)</sup> | 26709 | 8095231 |
|  |  | 24614731 |
| **Building Products - 4.3%** |  |  |
| Carlisle Cos., Inc.  | 24317 | 9227815 |
| Owens Corning  | 57135 | 8308001 |
|  |  | 17535816 |
| **Communications Equipment - 4.1%** |  |  |
| F5, Inc. <sup>(a)</sup> | 30898 | 8179937 |
| Juniper Networks, Inc.  | 237232 | 8616266 |
|  |  | 16796203 |
| **Construction & Engineering - 4.3%** |  |  |
| Comfort Systems USA, Inc.  | 23160 | 9207258 |
| EMCOR Group, Inc.  | 20805 | 8336564 |
|  |  | 17543822 |
| **Construction Machinery & Heavy Transportation Equipment - 2.0%** |  |  |
| Caterpillar, Inc.  | 25819 | 7985042 |
| **Diversified Banks - 1.9%** |  |  |
| US Bancorp  | 195139 | 7871907 |
| **Electric Utilities - 2.3%** |  |  |
| NRG Energy, Inc.  | 84582 | 9268496 |

---

------

---

| |
|:---|
| **BUSHIDO CAPITAL US EQUITY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **April 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.9% (CONTINUED)** | **Shares** | **Value**  |
| **Electronic Manufacturing Services - 2.1%** | |  |
| Jabil, Inc.  | 57570 | $8437459 |
| **Footwear - 1.8%** |  |  |
| NIKE, Inc. - Class B  | 127876 | 7212206 |
| **Gold - 2.3%** |  |  |
| Newmont Corp.  | 178461 | 9401326 |
| **Health Care Distributors - 4.5%** |  |  |
| Cardinal Health, Inc.  | 64230 | 9075057 |
| McKesson Corp.  | 12917 | 9207108 |
|  |  | 18282165 |
| **Health Care Facilities - 2.3%** |  |  |
| Tenet Healthcare Corp. <sup>(a)</sup> | 63936 | 9139651 |
| **Health Care Services - 2.2%** |  |  |
| Cigna Group  | 26702 | 9079748 |
| **Homebuilding - 8.1%** |  |  |
| DR Horton, Inc.  | 66199 | 8363582 |
| NVR, Inc. <sup>(a)</sup> | 1150 | 8194612 |
| PulteGroup, Inc.  | 81611 | 8371656 |
| Toll Brothers, Inc.  | 77672 | 7834775 |
|  |  | 32764625 |
| **Hotels, Resorts & Cruise Lines - 3.9%** |  |  |
| Airbnb, Inc. - Class A <sup>(a)</sup> | 66108 | 8059887 |
| Expedia Group, Inc.  | 48349 | 7587409 |
|  |  | 15647296 |
| **Integrated Oil & Gas - 3.6%** |  |  |
| Chevron Corp.  | 51185 | 6964231 |
| Exxon Mobil Corp.  | 72773 | 7687012 |
|  |  | 14651243 |
| **Interactive Home Entertainment - 1.8%** |  |  |
| Electronic Arts, Inc.  | 51327 | 7447034 |
| **Managed Health Care - 4.2%** |  |  |
| Humana, Inc.  | 31284 | 8203916 |

---

------

---

| |
|:---|
| **BUSHIDO CAPITAL US EQUITY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **April 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.9% (CONTINUED)** | **Shares** | **Value**  |
| **Managed Health Care - 4.2% (Continued)** | | |
| Molina Healthcare, Inc. <sup>(a)</sup> | 26919 | $8802782 |
|  |  | 17006698 |
| **Oil & Gas Equipment & Services - 3.3%** |  |  |
| Halliburton Co.  | 331419 | 6568725 |
| Schlumberger NV  | 202676 | 6738977 |
|  |  | 13307702 |
| **Oil & Gas Exploration & Production - 7.0%** |  |  |
| ConocoPhillips  | 83321 | 7425568 |
| Coterra Energy, Inc.  | 292286 | 7178544 |
| Devon Energy Corp.  | 227756 | 6926060 |
| Diamondback Energy, Inc.  | 52101 | 6877853 |
|  |  | 28408025 |
| **Pharmaceuticals - 5.8%** |  |  |
| Bristol-Myers Squibb Co.  | 139719 | 7013894 |
| Merck & Co., Inc.  | 94662 | 8065202 |
| Royalty Pharma PLC - Class A  | 253029 | 8304412 |
|  |  | 23383508 |
| **Reinsurance - 2.1%** |  |  |
| Everest Group Ltd.  | 23540 | 8446858 |
| **Research & Consulting Services - 2.3%** |  |  |
| Leidos Holdings, Inc.  | 62996 | 9271751 |
| **Semiconductor Materials & Equipment - 2.1%** |  |  |
| Applied Materials, Inc.  | 55703 | 8394999 |
| **Semiconductors - 3.8%** |  |  |
| ON Semiconductor Corp. <sup>(a)</sup> | 188461 | 7481902 |
| QUALCOMM, Inc.  | 53216 | 7900447 |
|  |  | 15382349 |
| **Technology Hardware, Storage & Peripherals - 2.0%** |  |  |
| NetApp, Inc.  | 89539 | 8036125 |
| **Transaction & Payment Processing Services - 1.9%** |  |  |
| PayPal Holdings, Inc. <sup>(a)</sup> | 119499 | 7867814 |
| **TOTAL COMMON STOCKS** (Cost $417,704,808) |  | 404899671 |

---

------

---

| |
|:---|
| **BUSHIDO CAPITAL US EQUITY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **April 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **SHORT-TERM INVESTMENTS - 0.1%** | **Shares** | **Value**  |
| **Money Market Funds - 0.1%** | |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(b)</sup> | 341204 | $341204 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $341,204) |  | 341204 |
| **TOTAL INVESTMENTS - 100.0% (**Cost $418,046,012**)** |  | $405240875 |
| Liabilities in Excess of Other Assets - (0.0)% <sup>(c)</sup> |  | (140474) |
| **TOTAL NET ASSETS - 100.0%** |  | $405100401 |

---

Percentages are stated as a percent of net assets.

PLC - Public Limited Company

(a) <br> Non-income producing security.

(b) <br> The rate shown represents the 7-day annualized effective yield as of April 30, 2025.

(c) <br> Represents less than 0.05% of net assets.

The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

------

**BUSHIDO CAPITAL US EQUITY ETF**

**Summary of Fair Value Disclosures as of April 30, 2025 (Unaudited)**

Bushido Capital US Equity ETF (the "Fund") has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of April 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **DESCRIPTION** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** | **TOTAL** |
| **<u>Assets</u>** | | | | |
| Common Stocks | $404899671 | $— | $— | $404899671 |
| Money Market Funds | 341204 |  |  | 341204 |
| **Total Investments** | $405240875 | $— | $— | $405240875 |

---

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

During the fiscal period ended April 30, 2025, the Fund did not invest in any Level 3 investments and recognized no transfers to/from Level 3. Transfers between levels are recognized at the end of the reporting period.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** EA Series Trust

- **b. Investment Company Act file number:** 811-22961

- **c. CIK number of Registrant:** 0001592900

- **d. LEI of Registrant:** 5493004OW9VWINAYRX18

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

  - **Street Address 1:** 19 E Eagle Road

  - **City:** Havertown

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** PA

  - **Telephone number:** 2158829983

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

- **a. Name of Series:** Bushido Capital US Equity ETF

- **b. EDGAR series identifier (if any):** S000080670

- **c. LEI of Series:** 5493000KPQW71RMPBT76

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

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

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $405328990.50

**Total Liabilities:** $228589.52

**Net Assets:** $405100400.98

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000243188 | -0.71%               | -3.41%               | -2.24%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3041172.58             | $-919588.87                                |
| Month 2  | $793556.39               | $-15955985.21                              |
| Month 3  | $-3002883.30             | $-5894807.15                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Owens Corning                              | Owens Corning                              | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |     57135 | NS      | $8308000.35   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                               | Chevron Corp                               | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     51185 | NS      | $6964231.10   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| PulteGroup Inc                             | PulteGroup Inc                             | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     81611 | NS      | $8371656.38   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                           | Exxon Mobil Corp                           | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     72773 | NS      | $7687011.99   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| NetApp Inc                                 | NetApp Inc                                 | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |     89539 | NS      | $8036125.25   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| US Bancorp                                 | US Bancorp                                 | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |    195139 | NS      | $7871907.26   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp                              | McKesson Corp                              | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |     12917 | NS      | $9207108.43   | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp                      | ON Semiconductor Corp                      | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |    188461 | NS      | $7481901.70   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| DR Horton Inc                              | DR Horton Inc                              | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |     66199 | NS      | $8363581.66   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co                    | Bristol-Myers Squibb Co                    | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |    139719 | NS      | $7013893.80   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy Inc                             | NRG Energy Inc                             | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |     84582 | NS      | $9268495.56   | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health Inc                        | Cardinal Health Inc                        | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |     64230 | NS      | $9075056.70   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| F5 Inc                                     | F5 Inc                                     | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |     30898 | NS      | $8179936.52   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Molina Healthcare Inc                      | Molina Healthcare Inc                      | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |     26919 | NS      | $8802782.19   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Docusign Inc                               | Docusign Inc                               | CUSIP: 256163106<br>LEI: 549300Q7PVDWRZ39JG09 | Long             | EC               | CORP              | US        |     94714 | NS      | $7742869.50   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Expedia Group Inc                          | Expedia Group Inc                          | CUSIP: 30212P303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     48349 | NS      | $7587408.57   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbnb Inc                                 | Airbnb Inc                                 | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |     66108 | NS      | $8059887.36   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc                     | Diamondback Energy Inc                     | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |     52101 | NS      | $6877853.01   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoom Communications Inc                    | Zoom Communications Inc                    | CUSIP: 98980L101<br>LEI: 549300T9GCHU0ODOM055 | Long             | EC               | CORP              | US        |    107920 | NS      | $8368116.80   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings Inc                        | PayPal Holdings Inc                        | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |    119499 | NS      | $7867814.16   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group/The                            | Cigna Group/The                            | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |     26702 | NS      | $9079748.08   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger NV                            | Schlumberger NV                            | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |    202676 | NS      | $6738977.00   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group Ltd                          | Everest Group Ltd                          | CUSIP: N/A<br>LEI: 549300N24XF2VV0B3570       | Long             | EC               | CORP              | BM        |     23540 | NS      | $8446858.20   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Royalty Pharma PLC                         | Royalty Pharma PLC                         | CUSIP: N/A<br>LEI: 549300FGFN7VOK8BZR03       | Long             | EC               | CORP              | GB        |    253029 | NS      | $8304411.78   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptiv PLC                                  | Aptiv PLC                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JE        |    131674 | NS      | $7513318.44   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obligations Fund | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    341204 | PA      | $341203.86    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                               | QUALCOMM Inc                               | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     53216 | NS      | $7900447.36   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp                      | Tenet Healthcare Corp                      | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |     63936 | NS      | $9139651.20   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc                      | Applied Materials Inc                      | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |     55703 | NS      | $8394999.13   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group Inc                            | EMCOR Group Inc                            | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |     20805 | NS      | $8336563.50   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                                  | Amgen Inc                                  | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     27466 | NS      | $7990408.72   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corp                          | Devon Energy Corp                          | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |    227756 | NS      | $6926059.96   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                            | Caterpillar Inc                            | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |     25819 | NS      | $7985042.13   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlisle Cos Inc                           | Carlisle Cos Inc                           | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |     24317 | NS      | $9227815.16   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Jabil Inc                                  | Jabil Inc                                  | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     57570 | NS      | $8437459.20   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Co                             | Halliburton Co                             | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |    331419 | NS      | $6568724.58   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                                 | Humana Inc                                 | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |     31284 | NS      | $8203916.16   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Incyte Corp                                | Incyte Corp                                | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               | CORP              | US        |    136117 | NS      | $8529091.22   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc                        | Electronic Arts Inc                        | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |     51327 | NS      | $7447034.43   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                               | Newmont Corp                               | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |    178461 | NS      | $9401325.48   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                             | Merck & Co Inc                             | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     94662 | NS      | $8065202.40   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE Inc                                   | NIKE Inc                                   | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |    127876 | NS      | $7212206.40   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc                         | Coterra Energy Inc                         | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |    292286 | NS      | $7178544.16   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Leidos Holdings Inc                        | Leidos Holdings Inc                        | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |     62996 | NS      | $9271751.28   | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Juniper Networks Inc                       | Juniper Networks Inc                       | CUSIP: 48203R104<br>LEI: AUHIXNGG7U2U7JEHM527 | Long             | EC               | CORP              | US        |    237232 | NS      | $8616266.24   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Tapestry Inc                               | Tapestry Inc                               | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |    114519 | NS      | $8090767.35   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA Inc                    | Comfort Systems USA Inc                    | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |     23160 | NS      | $9207258.00   | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers Inc                          | Toll Brothers Inc                          | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |     77672 | NS      | $7834774.64   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp                   | United Therapeutics Corp                   | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |     26709 | NS      | $8095230.81   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                             | ConocoPhillips                             | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     83321 | NS      | $7425567.52   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| NVR Inc                                    | NVR Inc                                    | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |      1150 | NS      | $8194612.50   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-04-30

**Name of Applicant:** EA Series Trust

**Signature:** /s/ Jessica Leighty

**Name of Signer:** Jessica Leighty

**Title:** Chief Compliance Officer