# EDGAR Filing Document

**Accession Number:** 0001059213
**File Stem:** 0000910472-25-003329
**Filing Date:** 2025-11
**Character Count:** 27691
**Document Hash:** 65f821e317c38ebbd1736267c29ac885
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-003329.hdr.sgml**: 20251113

**ACCESSION NUMBER**: 0000910472-25-003329

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251113

**DATE AS OF CHANGE**: 20251113

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BEXIL INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0001059213

**ORGANIZATION NAME:**
- **EIN:** 510382212
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08747
- **FILM NUMBER:** 251476326

**BUSINESS ADDRESS:**
- **STREET 1:** 2255 BUFFALO ROAD
- **CITY:** ROCHESTER
- **STATE:** NY
- **ZIP:** 14624
- **BUSINESS PHONE:** 2127850900

**MAIL ADDRESS:**
- **STREET 1:** 2255 BUFFALO ROAD
- **CITY:** ROCHESTER
- **STATE:** NY
- **ZIP:** 14624

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DIVIDEND & INCOME FUND
- **DATE OF NAME CHANGE:** 20120523

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DIVIDEND & INCOME FUND, INC.
- **DATE OF NAME CHANGE:** 20110210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CHARTWELL DIVIDEND & INCOME FUND INC
- **DATE OF NAME CHANGE:** 19980406

## Nport-Ex

---

| | | |
|:---|:---|:---|
|  | **BEXIL INVESTMENT TRUST** |  |
|  | **SCHEDULE OF PORTFOLIO INVESTMENTS** |  |
|  | **September 30, 2025** |  |
|  | (Unaudited) |  |
| **Shares** |  | **Value** |
|  | **Common Stocks (113.33%)** |  |
|  | **Automotive Dealers and Gasoline Service Stations (8.50%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6050 | AutoZone, Inc. <sup>(a)</sup> | $25955952 |
|  | **Building Construction General Contractors and Operative Builders (2.75%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1045 | NVR, Inc. <sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8396219 |
|  | **Equipment Rental and Leasing (4.53%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14500 | United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13842570 |
|  | **Engineering, Accounting, Research, Management, and Related Services (3.70%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113000 | Booz Allen Hamilton Holding Corporation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11294350 |
|  | **Fabricated Metal Products, except Machinery and Transportation Equipment (3.15%)** |  |
| 27800 | Snap-on Incorporated | 9633534 |
|  | **General Merchandise Stores (4.08%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20300 | Dillard's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12473944 |
|  | **Health Services (3.50%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25100 | HCA Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10697620 |
|  | **Home Furniture, Furnishings, and Equipment Stores (6.14%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96000 | Williams-Sonoma, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18763200 |
|  | **Industrial and Commercial Machinery and Computer Equipment (4.25%)** |  |
| 97000 | Lam Research Corporation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12988300 |
|  | **Insurance Carriers (18.70%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9600 | Elevance Health, Inc. | 3101952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200000 | Essent Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12712000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | Molina Healthcare, Inc. <sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9568000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 379226 | NMI Holdings, Inc. <sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14539525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50800 | The Progressive Corporation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12545060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13500 | UnitedHealth Group Incorporated | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4661550 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57128087 |
|  | **Metal Mining (12.77%)** |  |
| 1040000 | IAMGOLD Corp. <sup>(a)</sup> | 13447200 |
| 890000 | Evolution Mining Ltd. | 6377754 |
| 1840000 | New Gold Inc. <sup>(a)</sup> | 13211200 |
| 71000 | Newmont Corp. | 5986010 |
|  |  | 39022164 |
|  | **Oil and Gas Extraction (1.62%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110000 | Matador Resources Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4942300 |
|  | **Primary Metal (12.65%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161400 | Mueller Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16319154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160000 | Steel Dynamics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22308800 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38627954 |
|  | **Security and Commodity Brokers, Dealers, Exchanges, and Services (11.91%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 304000 | Interactive Brokers Group, Inc. Class A | 20918240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46500 | LPL Financial Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15470085 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36388325 |
|  | **Services - Computer Programming, Data Processing (15.08%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65700 | Alphabet Inc. Class A | 15971670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275054 | Clear Secure, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9181303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 237000 | Donnelley Financial Solutions, Inc. <sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12188910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130000 | PayPal Holdings, Inc. <sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8717800 |
|  |  | 46059683 |
|  | Total investments (Cost $204,952,539) (113.33%) <sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346214202 |
|  | Liabilities in excess of cash and other assets (-13.33%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40726679) |
|  | Net assets (100.00%) | $305487523 |
| <sup>(a)</sup> Non-income producing. | <sup>(a)</sup> Non-income producing. |  |
| <sup>(b)</sup> The Fund's total investment portfolio value of $346,214,202 has been pledged as collateral for borrowings under the Fund's credit agreement. The outstanding loan balance under the credit agreement was $40,511,700 as of September 30, 2025. | <sup>(b)</sup> The Fund's total investment portfolio value of $346,214,202 has been pledged as collateral for borrowings under the Fund's credit agreement. The outstanding loan balance under the credit agreement was $40,511,700 as of September 30, 2025. | <sup>(b)</sup> The Fund's total investment portfolio value of $346,214,202 has been pledged as collateral for borrowings under the Fund's credit agreement. The outstanding loan balance under the credit agreement was $40,511,700 as of September 30, 2025. |

---

------

#### Notes to Schedule of Portfolio Investments (Unaudited)

#### Valuation of Investments
Portfolio securities are valued by various methods depending on the primary market or exchange on which they trade. Most equity securities for which the primary market is in the United States are usually valued at the official closing price, last sale price or, if no sale has occurred, at the closing bid price. Most equity securities for which the primary market is outside the United States are usually valued using the official closing price or the last sale price in the principal market in which they are traded. If the last sale price on the local exchange is unavailable, the last evaluated quote or closing bid price normally is used. In the event of an unexpected closing of the primary market or exchange, a security may continue to trade on one or more other markets, and the price as reflected on those other trading venues may be more reflective of the security's value than an earlier price from the primary market or exchange. Accordingly, Bexil Investment Trust (the "Fund") may seek to use these additional sources of pricing data or information when prices from the primary market or exchange are unavailable, or are earlier and less representative of current market value. Certain debt securities may be priced through pricing services that may utilize a matrix pricing system which takes into consideration factors such as yields, prices, maturities, call features, and ratings on comparable securities or according to prices quoted by a securities dealer that offers pricing services. Open end investment companies are valued at their net asset value ("NAV"). Foreign securities markets may be open on days when the U.S. markets are closed. For this reason, the value of any foreign securities owned by the Fund could change on a day when shareholders cannot buy or sell shares of the Fund. Although the Fund's Board of Trustees (the "Board") may choose to determine fair value in good faith for any or all fund investments by carrying out the required functions itself, pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended, the Board currently has chosen to designate the performance of fair value determinations to a valuation designee, Bexil Advisers LLC (the "Investment Manager"), subject to the Board's oversight, with respect to securities for which market quotations are not readily available and reliable and other assets, called "fair value pricing." Due to the inherent uncertainty of valuation, fair value pricing values may differ from the values that would have been used had a readily available and reliable market quotation for the securities existed. These differences in valuation could be material. A security's valuation may differ depending on the method used for determining value. The use of fair value pricing by the Fund may cause the NAV of its shares to differ from the NAV that would be calculated using market prices. A fair value price is an estimate and there is no assurance that such price will be at or close to the price at which a security is next quoted or traded.

#### Value Measurements
Generally accepted accounting principles establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are:

• Level 1 - unadjusted quoted prices in active markets for identical assets or liabilities including securities actively traded on a securities exchange.

• Level 2 - observable inputs other than quoted prices included in level 1 that are observable for the asset or liability which may include quoted 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 including the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets for the security, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for investments categorized in level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs and methodology

------

used for valuing investments are not necessarily an indication of the risk associated with investing in those securities.

The following is a description of the valuation techniques applied to the Fund's major categories of assets and liabilities measured at fair value on a recurring basis:

Equity Securities (Common Stock) – Most publicly traded equity securities are valued normally at the most recent official closing price, last sale price, evaluated quote, or closing bid price. To the extent these securities are actively traded and valuation adjustments are not applied, they may be categorized in level 1 of the fair value hierarchy. Equities on inactive markets or valued by reference to similar instruments may be categorized in level 2.

The following is a summary of the inputs used as of September 30, 2025, in valuing the Fund's assets. Refer to the Schedule of Portfolio Investments for detailed information on specific investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Investments, at value |  |  |  |  |
| Common stocks | $346214202 | $- | $- | $346214202 |
| Total investments, at value | $346214202 | $- | $- | $346214202<br>|

---

**Cost for Federal Income Tax Purposes**

As of September 30, 2025, for federal income tax purposes, the aggregate cost of investments was $204,952,539 and net unrealized appreciation was $141,261,663, comprised of gross unrealized appreciation of $144,558,736 and gross unrealized depreciation of $3,297,073. The aggregate cost of investments for tax purposes will depend upon the Fund's investment experience during the entirety of its fiscal year and may be subject to changes based on tax regulations.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Bexil Investment Trust

- **b. Investment Company Act file number:** 811-08747

- **c. CIK number of Registrant:** 0001059213

- **d. LEI of Registrant:** 549300GQF37VFS5FKW75

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

  - **Street Address 1:** 2255 Buffalo Road

  - **City:** Rochester

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 14624

  - **Telephone number:** 212-785-0900

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

- **a. Name of Series:** BEXIL INVESTMENT TRUST

- **c. LEI of Series:** 549300GQF37VFS5FKW75

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

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

- **b. Date as of which information is reported:** 2025-09-30

**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:** $346530467.79

**Total Liabilities:** $41042944.30

**Net Assets:** $305487523.49

**Cash Not Reported:** $45810.00

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.71%                | 6.92%                | 4.01%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $14788034.86             | $-12362601.32                              |
| Month 2  | $-4749009.01             | $23869247.98                               |
| Month 3  | $8220.11                 | $15214087.04                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| New Gold, Inc.                    | New Gold, Inc.                      | CUSIP: 644535106<br>LEI: 5493005G0GNCHP0H6L96 | Long             | EC               | CORP              | CA        |   1840000 | NS      | $13211200.00  | 4.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries Inc.           | Mueller Industries, Inc.            | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |    161400 | NS      | $16319154.00  | 5.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corporation               | Newmont Goldcorp Corp.              | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     71000 | NS      | $5986010.00   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc                | HCA Healthcare, Inc.                | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |     25100 | NS      | $10697620.00  | 3.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams-Sonoma Inc.              | Williams-Sonoma, Inc.               | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |     96000 | NS      | $18763200.00  | 6.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Donnelley Financial Solutions Inc | Donnelley Financial Solutions, Inc. | CUSIP: 25787G100<br>LEI: 549300O1NPY4J56QCU04 | Long             | EC               | CORP              | US        |    237000 | NS      | $12188910.00  | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Paypal Holdings Inc.              | PayPal Holdings, Inc.               | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |    130000 | NS      | $8717800.00   | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals, Inc.              | United Rentals, Inc.                | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |     14500 | NS      | $13842570.00  | 4.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Booz Allen Hamilton Holding Corp. | Booz Allen Hamilton Corp.           | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |    113000 | NS      | $11294350.00  | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc.       | LPL Financial Holdings, Inc.        | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |     46500 | NS      | $15470085.00  | 5.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Clear Secure Inc                  | Clear Secure Inc                    | CUSIP: 18467V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    275054 | NS      | $9181302.52   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corporation          | Lam Research Corp.                  | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     97000 | NS      | $12988300.00  | 4.25%             |  |  |  | No            |                  1 | On Loan: No      |
| IAMGOLD Corp                      | IAMGOLD Corp.                       | CUSIP: 450913108<br>LEI: 254900E7II30XAB9LA72 | Long             | EC               | CORP              | CA        |   1040000 | NS      | $13447200.00  | 4.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolution Mining Ltd.             | Evolution Mining Ltd.               | CUSIP: Q3647R147<br>LEI: 254900BCFW5QO5LW8F27 | Long             | EC               | CORP              | AU        |    890000 | NS      | $6377754.25   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Snap-On Incorporated              | Snap-on, Inc.                       | CUSIP: 833034101<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | EC               | CORP              | US        |     27800 | NS      | $9633534.00   | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Company         | Matador Resources Co.               | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |    110000 | NS      | $4942300.00   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Autozone, Inc.                    | AutoZone, Inc.                      | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |      6050 | NS      | $25955952.00  | 8.50%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.           | UnitedHealth Group, Inc.            | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     13500 | NS      | $4661550.00   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics, Inc.              | Steel Dynamics, Inc.                | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |    160000 | NS      | $22308800.00  | 7.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Interactive Brokers Group Inc     | Interactive Brokers Group, Inc.     | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |    304000 | NS      | $20918240.00  | 6.85%             |  |  |  | No            |                  1 | On Loan: No      |
| NVR Inc                           | NVR, Inc.                           | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |      1045 | NS      | $8396219.70   | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc.              | Elevance Health, Inc.               | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |      9600 | NS      | $3101952.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Molina Healthcare, Inc.           | Molina Healthcare, Inc.             | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |     50000 | NS      | $9568000.00   | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Dillards, Inc.                    | Dillards Inc-Cl A                   | CUSIP: 254067101<br>LEI: 529900FGYKMWL6019P91 | Long             | EC               | CORP              | US        |     20300 | NS      | $12473944.00  | 4.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Essent Group Ltd.                 | Essent Group Ltd.                   | CUSIP: G3198U102<br>LEI: 254900QUO860OUT6ZF83 | Long             | EC               | CORP              | BM        |    200000 | NS      | $12712000.00  | 4.16%             |  |  |  | No            |                  1 | On Loan: No      |
| The Progressive Corporation       | Progressive Corp./The               | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |     50800 | NS      | $12545060.00  | 4.11%             |  |  |  | No            |                  1 | On Loan: No      |
| NMI Holdings Inc                  | NMI Holdings, Inc.                  | CUSIP: 629209305<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | EC               | CORP              | US        |    379226 | NS      | $14539524.84  | 4.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                     | Alphabet, Inc.                      | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     65700 | NS      | $15971670.00  | 5.23%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                               | Reich & Tang Deposit Account        | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |      4378 | PA      | $4377.88      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-30

**Name of Applicant:** BEXIL INVESTMENT TRUST

**Signature:** Russell Kamerman

**Name of Signer:** Russell Kamerman

**Title:** General Counsel