# EDGAR Filing Document

**Accession Number:** 0001760588
**File Stem:** 0000910472-25-002531
**Filing Date:** 2025-10
**Character Count:** 61066
**Document Hash:** dd0a3ddf0c4e731313f511b37d60a116
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-002531.hdr.sgml**: 20251029

**ACCESSION NUMBER**: 0000910472-25-002531

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251029

**DATE AS OF CHANGE**: 20251029

**PERIOD START**: 20251130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Zacks Trust
- **CENTRAL INDEX KEY:** 0001760588

**ORGANIZATION NAME:**
- **EIN:** 836534641
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23435
- **FILM NUMBER:** 251427606

**BUSINESS ADDRESS:**
- **STREET 1:** 227 WEST MONROE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 312-265-9359

**MAIL ADDRESS:**
- **STREET 1:** 227 WEST MONROE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

## Series and Classes Contracts Data

### Zacks Dividend Fund (Series ID: S000081340)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000244047 | Zacks Dividend Fund Investor Class Shares      | ZDIVX           |
| C000244048 | Zacks Dividend Fund Institutional Class Shares | ZDIIX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **ZACKS ALL-CAP CORE FUND** | **ZACKS ALL-CAP CORE FUND** | **ZACKS ALL-CAP CORE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.9%** |  |
|  | **AEROSPACE & DEFENSE - 2.0%** |  |
| 551 | General Dynamics Corporation | &nbsp;&nbsp;&nbsp; $178838 |
| 848 | Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp; 147637 |
| 2020 | RTX Corporation | &nbsp;&nbsp;&nbsp; 320372 |
|  |  | &nbsp;&nbsp; 646847 |
|  | **ASSET MANAGEMENT - 2.2%** |  |
| 642 | Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp; 330508 |
| 151 | Blackrock, Inc. | &nbsp;&nbsp;&nbsp; 170198 |
| 1965 | Robinhood Markets, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 204419 |
|  |  | &nbsp;&nbsp; 705125 |
|  | **AUTOMOTIVE - 0.8%** |  |
| 763 | Tesla, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 254743 |
|  | **BANKING - 4.9%** |  |
| 6822 | Bank of America Corporation | &nbsp;&nbsp;&nbsp; 346148 |
| 2098 | JPMorgan Chase & Company | &nbsp;&nbsp;&nbsp; 632379 |
| 1038 | PNC Financial Services Group, Inc. (The) | &nbsp;&nbsp;&nbsp; 215323 |
| 5361 | Truist Financial Corporation | &nbsp;&nbsp;&nbsp; 251002 |
| 1017 | Wintrust Financial Corporation | &nbsp;&nbsp;&nbsp; 139624 |
|  |  | &nbsp;&nbsp; 1584476 |
|  | **BEVERAGES - 0.8%** |  |
| 1812 | PepsiCo, Inc. | &nbsp;&nbsp;&nbsp; 269354 |
|  | **BIOTECH & PHARMA - 6.1%** |  |
| 1833 | AbbVie, Inc. | &nbsp;&nbsp;&nbsp; 385663 |
| 763 | Amgen, Inc. | &nbsp;&nbsp;&nbsp; 219523 |
| 2310 | Bristol-Myers Squibb Company | &nbsp;&nbsp;&nbsp; 108986 |
| 523 | Eli Lilly & Company | &nbsp;&nbsp;&nbsp; 383139 |
| 1097 | Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp; 123928 |
| 1547 | Johnson & Johnson | &nbsp;&nbsp;&nbsp; 274082 |
| 1376 | Merck & Company, Inc. | &nbsp;&nbsp;&nbsp; 115749 |
| 4839 | Pfizer, Inc. | &nbsp;&nbsp;&nbsp; 119814 |
| 543 | Vertex Pharmaceuticals, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 212324 |
|  |  | &nbsp;&nbsp; 1943208 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS ALL-CAP CORE FUND** | **ZACKS ALL-CAP CORE FUND** | **ZACKS ALL-CAP CORE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.9% (Continued)** |  |
|  | **COMMERCIAL SUPPORT SERVICES - 2.3%** |  |
| 1728 | Cintas Corporation | &nbsp;&nbsp;&nbsp; $362932 |
| 1473 | Republic Services, Inc. | &nbsp;&nbsp;&nbsp; 344638 |
|  |  | &nbsp;&nbsp; 707570 |
|  | **DIVERSIFIED INDUSTRIALS - 0.6%** |  |
| 1482 | Emerson Electric Company | &nbsp;&nbsp;&nbsp; 195624 |
|  | **E-COMMERCE DISCRETIONARY - 3.2%** |  |
| 4344 | Amazon.com, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 994776 |
|  | **ELECTRIC UTILITIES - 2.2%** |  |
| 3199 | American Electric Power Company, Inc. | &nbsp;&nbsp;&nbsp; 355153 |
| 1916 | NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp; 138048 |
| 2161 | Southern Company (The) | &nbsp;&nbsp;&nbsp; 199460 |
|  |  | &nbsp;&nbsp; 692661 |
|  | **ELECTRICAL EQUIPMENT - 1.9%** |  |
| 950 | Amphenol Corporation, Class A | &nbsp;&nbsp;&nbsp; 103417 |
| 1475 | Carrier Global Corporation | &nbsp;&nbsp;&nbsp; 96170 |
| 1536 | Itron, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 188836 |
| 3964 | Mirion Technologies, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 81262 |
| 960 | Vertiv Holdings Company | &nbsp;&nbsp;&nbsp; 122448 |
|  |  | &nbsp;&nbsp; 592133 |
|  | **ENGINEERING & CONSTRUCTION - 1.5%** |  |
| 763 | EMCOR Group, Inc. | &nbsp;&nbsp;&nbsp; 473060 |
|  | **FOOD - 0.7%** |  |
| 1250 | Hershey Company (The) | &nbsp;&nbsp;&nbsp; 229688 |
|  | **GAS & WATER UTILITIES - 0.9%** |  |
| 1239 | American Water Works Company, Inc. | &nbsp;&nbsp;&nbsp; 177809 |
| 2361 | NiSource, Inc. | &nbsp;&nbsp;&nbsp; 99799 |
|  |  | &nbsp;&nbsp; 277608 |
|  | **HEALTH CARE FACILITIES & SERVICES - 1.4%** |  |
| 1793 | Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp; 266762 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS ALL-CAP CORE FUND** | **ZACKS ALL-CAP CORE FUND** | **ZACKS ALL-CAP CORE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.9% (Continued)** |  |
|  | **HEALTH CARE FACILITIES & SERVICES - 1.4% (Continued)** |  |
| 625 | Labcorp Holdings, Inc. | &nbsp;&nbsp;&nbsp; $173744 |
|  |  | &nbsp;&nbsp; 440506 |
|  | **HOME CONSTRUCTION - 0.7%** |  |
| 1801 | PulteGroup, Inc. | &nbsp;&nbsp;&nbsp; 237768 |
|  | **HOUSEHOLD PRODUCTS - 1.4%** |  |
| 2871 | Procter & Gamble Company (The) | &nbsp;&nbsp;&nbsp; 450862 |
|  | **INDUSTRIAL REIT - 0.4%** |  |
| 1006 | Prologis, Inc. | &nbsp;&nbsp;&nbsp; 114463 |
|  | **INSTITUTIONAL FINANCIAL SERVICES - 0.6%** |  |
| 1853 | Nasdaq, Inc. | &nbsp;&nbsp;&nbsp; 175553 |
|  | **INSURANCE - 4.0%** |  |
| 512 | Assurant, Inc. | &nbsp;&nbsp;&nbsp; 110392 |
| 2807 | Hartford Insurance Group, Inc. (The) | &nbsp;&nbsp;&nbsp; 371395 |
| 1642 | Marsh & McLennan Companies, Inc. | &nbsp;&nbsp;&nbsp; 337940 |
| 2998 | MetLife, Inc. | &nbsp;&nbsp;&nbsp; 243917 |
| 2829 | W R Berkley Corporation | &nbsp;&nbsp;&nbsp; 202811 |
|  |  | &nbsp;&nbsp; 1266455 |
|  | **INTERNET MEDIA & SERVICES - 11.5%** |  |
| 4528 | Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp; 964056 |
| 1144 | Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp; 244278 |
| 1700 | Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp; 1255791 |
| 487 | Netflix, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 588418 |
| 588 | Spotify Technology S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 400945 |
| 2076 | Uber Technologies, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 194625 |
|  |  | &nbsp;&nbsp; 3648113 |
|  | **LEISURE FACILITIES & SERVICES - 2.5%** |  |
| 900 | Marriott International, Inc., Class A | &nbsp;&nbsp;&nbsp; 241074 |
| 613 | McDonald's Corporation | &nbsp;&nbsp;&nbsp; 192200 |
| 741 | Royal Caribbean Cruises Ltd. | &nbsp;&nbsp;&nbsp; 269146 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS ALL-CAP CORE FUND** | **ZACKS ALL-CAP CORE FUND** | **ZACKS ALL-CAP CORE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.9% (Continued)** |  |
|  | **LEISURE FACILITIES & SERVICES - 2.5% (Continued)** |  |
| 1173 | Starbucks Corporation | &nbsp;&nbsp;&nbsp; $103447 |
|  |  | &nbsp;&nbsp; 805867 |
|  | **MACHINERY - 1.9%** |  |
| 1229 | Caterpillar, Inc. | &nbsp;&nbsp;&nbsp; 515000 |
| 3737 | Mueller Water Products, Inc., Class A - Series A | &nbsp;&nbsp;&nbsp; 98507 |
|  |  | &nbsp;&nbsp; 613507 |
|  | **MEDICAL EQUIPMENT & DEVICES - 2.6%** |  |
| 1684 | Abbott Laboratories | &nbsp;&nbsp;&nbsp; 223399 |
| 2140 | Boston Scientific Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 225771 |
| 530 | Stryker Corporation | &nbsp;&nbsp;&nbsp; 207447 |
| 333 | Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp; 164076 |
|  |  | &nbsp;&nbsp; 820693 |
|  | **OFFICE REIT - 0.3%** |  |
| 1272 | BXP, Inc. | &nbsp;&nbsp;&nbsp; 92233 |
|  | **OIL & GAS PRODUCERS - 2.6%** |  |
| 2532 | Chevron Corporation | &nbsp;&nbsp;&nbsp; 406640 |
| 2786 | ConocoPhillips | &nbsp;&nbsp;&nbsp; 275730 |
| 1290 | Exxon Mobil Corporation | &nbsp;&nbsp;&nbsp; 147434 |
|  |  | &nbsp;&nbsp; 829804 |
|  | **RESIDENTIAL REIT - 0.4%** |  |
| 943 | Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;&nbsp; 137508 |
|  | **RETAIL - CONSUMER STAPLES - 2.1%** |  |
| 1070 | BJ's Wholesale Club Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 104518 |
| 5349 | Walmart, Inc. | &nbsp;&nbsp;&nbsp; 518745 |
|  |  | &nbsp;&nbsp; 623263 |
|  | **RETAIL - DISCRETIONARY - 2.8%** |  |
| 1964 | Advance Auto Parts, Inc. | &nbsp;&nbsp;&nbsp; 119784 |
| 1136 | Home Depot, Inc. (The) | &nbsp;&nbsp;&nbsp; 462091 |
| 2216 | TJX Companies, Inc. (The) | &nbsp;&nbsp;&nbsp; 302728 |
|  |  | &nbsp;&nbsp; 884603 |
|  | **SEMICONDUCTORS - 10.5%** |  |
| 1652 | Advanced Micro Devices, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 268665 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS ALL-CAP CORE FUND** | **ZACKS ALL-CAP CORE FUND** | **ZACKS ALL-CAP CORE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.9% (Continued)** |  |
|  | **SEMICONDUCTORS - 10.5% (Continued)** |  |
| 1737 | Applied Materials, Inc. | &nbsp;&nbsp;&nbsp; $279240 |
| 860 | Broadcom, Inc. | &nbsp;&nbsp;&nbsp; 255755 |
| 1162 | Lam Research Corporation | &nbsp;&nbsp;&nbsp; 116374 |
| 1827 | Marvell Technology, Inc. | &nbsp;&nbsp;&nbsp; 114854 |
| 12088 | NVIDIA Corporation | &nbsp;&nbsp;&nbsp; 2105489 |
| 932 | Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp; 188711 |
|  |  | &nbsp;&nbsp; 3329088 |
|  | **SOFTWARE - 11.2%** |  |
| 805 | Cadence Design Systems, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 282096 |
| 1609 | Intapp, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 73998 |
| 339 | Intuit, Inc. | &nbsp;&nbsp;&nbsp; 226113 |
| 2489 | Microsoft Corporation | &nbsp;&nbsp;&nbsp; 1261151 |
| 848 | Okta, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 78669 |
| 1515 | Oracle Corporation | &nbsp;&nbsp;&nbsp; 342587 |
| 859 | Palantir Technologies, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 134614 |
| 1099 | Palo Alto Networks, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 209381 |
| 740 | Salesforce, Inc. | &nbsp;&nbsp;&nbsp; 189625 |
| 788 | Synopsys, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 475574 |
| 1271 | Zoom Video Communications, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 103485 |
| 646 | Zscaler, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 178974 |
|  |  | &nbsp;&nbsp; 3556267 |
|  | **SPECIALTY FINANCE - 1.7%** |  |
| 1600 | American Express Company | &nbsp;&nbsp;&nbsp; 530048 |
|  | **TECHNOLOGY HARDWARE - 6.9%** |  |
| 5591 | Apple, Inc. | &nbsp;&nbsp;&nbsp; 1297895 |
| 998 | Arista Networks, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 136277 |
| 3653 | Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp; 252386 |
| 2405 | Corning, Inc. | &nbsp;&nbsp;&nbsp; 161207 |
| 497 | Fabrinet<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 164651 |
| 2335 | Pure Storage, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 181219 |
|  |  | &nbsp;&nbsp; 2193635 |
|  | **TECHNOLOGY SERVICES - 3.3%** |  |
| 850 | Accenture PLC, Class A | &nbsp;&nbsp;&nbsp; 220975 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS ALL-CAP CORE FUND** | **ZACKS ALL-CAP CORE FUND** | **ZACKS ALL-CAP CORE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.9% (Continued)** |  |
|  | **TECHNOLOGY SERVICES - 3.3% (Continued)** |  |
| 1128 | Global Payments, Inc. | &nbsp;&nbsp;&nbsp; $100189 |
| 713 | International Business Machines Corporation | &nbsp;&nbsp;&nbsp; 173608 |
| 857 | Leidos Holdings, Inc. | &nbsp;&nbsp;&nbsp; 155048 |
| 512 | Moody's Corporation | &nbsp;&nbsp;&nbsp; 260997 |
| 2987 | Toast, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 134714 |
|  |  | &nbsp;&nbsp; 1045531 |
|  | **TELECOMMUNICATIONS - 1.0%** |  |
| 1314 | T-Mobile US, Inc. | &nbsp;&nbsp;&nbsp; 331115 |
|  | **TOTAL COMMON STOCKS (Cost $16,735,024)** | &nbsp;&nbsp; 31693755 |
| **Shares** |  | **Fair Value** |
|  | **SHORT-TERM INVESTMENT — 0.2%** |  |
|  | **MONEY MARKET FUND - 0.2%** |  |
| 74379 | Federated Hermes Treasury Obligations Fund, Institutional Class, 4.13% (Cost $74,379)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 74379 |
|  | **TOTAL INVESTMENTS - 100.1% (Cost $16,809,403)** | &nbsp;&nbsp;&nbsp; $31768134 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%** | &nbsp;&nbsp; (28114) |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $31740020 |

---

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> Rate disclosed is the seven day effective yield as of August 31, 2025.

---

| | | |
|:---|:---|:---|
| **ZACKS SMALL-CAP CORE FUND** | **ZACKS SMALL-CAP CORE FUND** | **ZACKS SMALL-CAP CORE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.3%** |  |
|  | **AEROSPACE & DEFENSE - 1.2%** |  |
| 1890 | Moog, Inc., Class A | &nbsp;&nbsp;&nbsp; $370157 |
|  | **ASSET MANAGEMENT - 1.9%** |  |
| 2811 | Virtus Investment Partners, Inc. | &nbsp;&nbsp;&nbsp; 566220 |
|  | **BANKING - 16.3%** |  |
| 8881 | 1st Source Corporation | &nbsp;&nbsp;&nbsp; 572113 |
| 4238 | Bank7 Corporation | &nbsp;&nbsp;&nbsp; 210247 |
| 9943 | Capital City Bank Group, Inc. | &nbsp;&nbsp;&nbsp; 436100 |
| 4323 | FB Financial Corporation | &nbsp;&nbsp;&nbsp; 232059 |
| 9727 | First Business Financial Services, Inc. | &nbsp;&nbsp;&nbsp; 508917 |
| 7138 | First Mid Bancshares, Inc. | &nbsp;&nbsp;&nbsp; 288661 |
| 22009 | HBT Financial, Inc. | &nbsp;&nbsp;&nbsp; 583017 |
| 6380 | Horizon Bancorp, Inc. | &nbsp;&nbsp;&nbsp; 107567 |
| 10433 | Independent Bank Corporation (MI) | &nbsp;&nbsp;&nbsp; 343141 |
| 6923 | Mercantile Bank Corporation | &nbsp;&nbsp;&nbsp; 340958 |
| 25613 | Shore Bancshares, Inc. | &nbsp;&nbsp;&nbsp; 440287 |
| 3510 | Sierra Bancorp | &nbsp;&nbsp;&nbsp; 107617 |
| 10983 | SmartFinancial, Inc. | &nbsp;&nbsp;&nbsp; 404724 |
| 9770 | Univest Financial Corporation | &nbsp;&nbsp;&nbsp; 309416 |
|  |  | &nbsp;&nbsp; 4884824 |
|  | **BIOTECH & PHARMA - 1.4%** |  |
| 43364 | Amneal Pharmaceuticals, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 414560 |
|  | **CHEMICALS - 1.5%** |  |
| 6716 | Intrepid Potash, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 204368 |
| 2244 | Materion Corporation | &nbsp;&nbsp;&nbsp; 248635 |
|  |  | &nbsp;&nbsp; 453003 |
|  | **COMMERCIAL SUPPORT SERVICES - 6.7%** |  |
| 918 | CRA International, Inc. | &nbsp;&nbsp;&nbsp; 177872 |
| 3543 | Huron Consulting Group, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 485249 |
| 38165 | Quad/Graphics, Inc. | &nbsp;&nbsp;&nbsp; 254179 |
| 2732 | UniFirst Corporation | &nbsp;&nbsp;&nbsp; 485804 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS SMALL-CAP CORE FUND** | **ZACKS SMALL-CAP CORE FUND** | **ZACKS SMALL-CAP CORE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.3% (Continued)** |  |
|  | **COMMERCIAL SUPPORT SERVICES - 6.7% (Continued)** |  |
| 16099 | Viad Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $600494 |
|  |  | &nbsp;&nbsp; 2003598 |
|  | **CONSUMER SERVICES - 1.3%** |  |
| 7334 | Carriage Services, Inc. | &nbsp;&nbsp;&nbsp; 321083 |
| 4940 | Coursera, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 56810 |
|  |  | &nbsp;&nbsp; 377893 |
|  | **CONTAINERS & PACKAGING - 1.0%** |  |
| 4748 | Greif, Inc., Class A | &nbsp;&nbsp;&nbsp; 310092 |
|  | **ELECTRICAL EQUIPMENT - 7.7%** |  |
| 12715 | Allient, Inc. | &nbsp;&nbsp;&nbsp; 577007 |
| 4139 | Itron, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 508849 |
| 330 | Kimball Electronics, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 9527 |
| 6600 | nLight, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 190080 |
| 3137 | SPX Technologies, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 586964 |
| 1471 | Watts Water Technologies, Inc., Class A | &nbsp;&nbsp;&nbsp; 407320 |
|  |  | &nbsp;&nbsp; 2279747 |
|  | **ENGINEERING & CONSTRUCTION - 6.6%** |  |
| 4865 | Bowman Consulting Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 207881 |
| 8595 | Centuri Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 182558 |
| 822 | Comfort Systems USA, Inc. | &nbsp;&nbsp;&nbsp; 578178 |
| 7330 | Frontdoor, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 445298 |
| 47082 | Great Lakes Dredge & Dock Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 548976 |
|  |  | &nbsp;&nbsp; 1962891 |
|  | **FOOD - 1.6%** |  |
| 5880 | Mission Produce, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 73559 |
| 10985 | Phibro Animal Health Corporation, Class A | &nbsp;&nbsp;&nbsp; 407213 |
|  |  | &nbsp;&nbsp; 480772 |
|  | **HEALTH CARE FACILITIES & SERVICES - 4.0%** |  |
| 76243 | Aveanna Healthcare Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 609943 |
| 10682 | Enhabit, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 84174 |
| 34020 | LifeStance Health Group, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 186430 |
| 8270 | Pennant Group, Inc. (The)<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 198563 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS SMALL-CAP CORE FUND** | **ZACKS SMALL-CAP CORE FUND** | **ZACKS SMALL-CAP CORE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.3% (Continued)** |  |
|  | **HEALTH CARE FACILITIES & SERVICES - 4.0% (Continued)** |  |
| 7482 | SI-BONE, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $124725 |
|  |  | &nbsp;&nbsp; 1203835 |
|  | **HOUSEHOLD PRODUCTS - 0.4%** |  |
| 3655 | Central Garden & Pet Company, Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 120725 |
|  | **INDUSTRIAL INTERMEDIATE PRODUCTS - 3.4%** |  |
| 4207 | AZZ, Inc. | &nbsp;&nbsp;&nbsp; 474928 |
| 5736 | Gibraltar Industries, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 359016 |
| 3800 | Proto Labs, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 189278 |
|  |  | &nbsp;&nbsp; 1023222 |
|  | **INDUSTRIAL SUPPORT SERVICES - 0.8%** |  |
| 7075 | Resideo Technologies, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 240904 |
|  | **INSTITUTIONAL FINANCIAL SERVICES - 1.0%** |  |
| 3500 | Marex Group plc | &nbsp;&nbsp;&nbsp; 123760 |
| 1854 | StoneX Group, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 189423 |
|  |  | &nbsp;&nbsp; 313183 |
|  | **INSURANCE - 0.9%** |  |
| 5000 | Hippo Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 169050 |
| 180 | Palomar Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 22144 |
| 2564 | United Fire Group, Inc. | &nbsp;&nbsp;&nbsp; 78817 |
|  |  | &nbsp;&nbsp; 270011 |
|  | **INTERNET MEDIA & SERVICES - 2.0%** |  |
| 14278 | EverQuote, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 331964 |
| 40195 | Marqeta, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 255841 |
|  |  | &nbsp;&nbsp; 587805 |
|  | **LEISURE FACILITIES & SERVICES - 4.5%** |  |
| 21500 | Accel Entertainment, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 249185 |
| 62089 | Global Business Travel Group I<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 517822 |
| 2063 | Light & Wonder, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 190766 |
| 10827 | Potbelly Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 140101 |
| 15600 | Super Group SGHC Ltd. | &nbsp;&nbsp;&nbsp; 181428 |
| 10400 | Target Hospitality Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 94328 |
|  |  | &nbsp;&nbsp; 1373630 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS SMALL-CAP CORE FUND** | **ZACKS SMALL-CAP CORE FUND** | **ZACKS SMALL-CAP CORE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.3% (Continued)** |  |
|  | **MACHINERY - 3.2%** |  |
| 980 | ESCO Technologies, Inc. | &nbsp;&nbsp;&nbsp; $196892 |
| 4706 | Federal Signal Corporation | &nbsp;&nbsp;&nbsp; 578791 |
| 3923 | Graham Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 192423 |
|  |  | &nbsp;&nbsp; 968106 |
|  | **MEDICAL EQUIPMENT & DEVICES - 1.3%** |  |
| 51410 | Bioventus, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 380434 |
|  | **METALS & MINING - 0.7%** |  |
| 24875 | Hecla Mining Company | &nbsp;&nbsp;&nbsp; 211686 |
|  | **MULTI ASSET CLASS REIT - 1.6%** |  |
| 19958 | One Liberty Properties, Inc. | &nbsp;&nbsp;&nbsp; 476797 |
|  | **MULTI ASSET CLASS REITS - 2.0%** |  |
| 29976 | Alexander & Baldwin, Inc. | &nbsp;&nbsp;&nbsp; 579735 |
|  | **OIL & GAS PRODUCERS - 1.0%** |  |
| 11934 | Excelerate Energy, Inc., Class A | &nbsp;&nbsp;&nbsp; 291428 |
|  | **OIL & GAS SERVICES & EQUIPMENT - 0.6%** |  |
| 17862 | Newpark Resources, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 185765 |
|  | **REAL ESTATE SERVICES - 1.9%** |  |
| 31394 | Newmark Group, Inc., Class A | &nbsp;&nbsp;&nbsp; 571685 |
|  | **RETAIL REIT - 1.7%** |  |
| 15134 | Saul Centers, Inc. | &nbsp;&nbsp;&nbsp; 517129 |
|  | **SOFTWARE - 7.0%** |  |
| 5730 | Adeia, Inc. | &nbsp;&nbsp;&nbsp; 86179 |
| 7500 | Alkami Technology, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 192000 |
| 11700 | Appian Corporation, Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 360126 |
| 9025 | Asana, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 131765 |
| 19900 | Backblaze, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 166165 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS SMALL-CAP CORE FUND** | **ZACKS SMALL-CAP CORE FUND** | **ZACKS SMALL-CAP CORE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.3% (Continued)** |  |
|  | **SOFTWARE - 7.0% (Continued)** |  |
| 62000 | CS Disco, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $339140 |
| 37570 | EverCommerce, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 433933 |
| 8027 | Intapp, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 369162 |
|  |  | &nbsp;&nbsp; 2078470 |
|  | **SPECIALTY FINANCE - 4.5%** |  |
| 3218 | FirstCash Holdings, Inc. | &nbsp;&nbsp;&nbsp; 473915 |
| 1700 | LendingTree, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 115515 |
| 38585 | OppFi, Inc. | &nbsp;&nbsp;&nbsp; 393953 |
| 24725 | Paysign, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 128076 |
| 13637 | PRA Group, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 233056 |
|  |  | &nbsp;&nbsp; 1344515 |
|  | **STEEL - 2.7%** |  |
| 2025 | Carpenter Technology Corporation | &nbsp;&nbsp;&nbsp; 487782 |
| 5876 | Northwest Pipe Company<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 311193 |
|  |  | &nbsp;&nbsp; 798975 |
|  | **TECHNOLOGY HARDWARE - 0.9%** |  |
| 6222 | TTM Technologies, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 277315 |
|  | **TECHNOLOGY SERVICES - 2.2%** |  |
| 2825 | Cass Information Systems, Inc. | &nbsp;&nbsp;&nbsp; 121814 |
| 2408 | MAXIMUS, Inc. | &nbsp;&nbsp;&nbsp; 211711 |
| 15560 | Paysafe Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 219552 |
| 14085 | Priority Technology Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 117891 |
|  |  | &nbsp;&nbsp; 670968 |
|  | **TELECOMMUNICATIONS - 0.4%** |  |
| 1550 | Globalstar, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 46392 |
| 4360 | Spok Holdings, Inc. | &nbsp;&nbsp;&nbsp; 79177 |
|  |  | &nbsp;&nbsp; 125569 |
|  | **TRANSPORTATION & LOGISTICS - 2.0%** |  |
| 5087 | Covenant Logistics Group, Inc. | &nbsp;&nbsp;&nbsp; 122749 |
| 5588 | Golar LNG Ltd. | &nbsp;&nbsp;&nbsp; 244866 |
| 1980 | SkyWest, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 240372 |
|  |  | &nbsp;&nbsp; 607987 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS SMALL-CAP CORE FUND** | **ZACKS SMALL-CAP CORE FUND** | **ZACKS SMALL-CAP CORE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.3% (Continued)** |  |
|  | **WHOLESALE - DISCRETIONARY - 0.4%** |  |
| 929 | Climb Global Solutions, Inc. | &nbsp;&nbsp;&nbsp; $114787 |
|  | **TOTAL COMMON STOCKS (Cost $24,914,870)** | &nbsp;&nbsp; 29438423 |
| **Shares** |  | **Fair Value** |
|  | **SHORT-TERM INVESTMENT — 1.5%** |  |
|  | **MONEY MARKET FUND - 1.5%** |  |
| 439547 | Federated Hermes Treasury Obligations Fund, Institutional Class, 4.13% (Cost $439,547)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 439547 |
|  | **TOTAL INVESTMENTS - 99.8% (Cost $25,354,417)** | &nbsp;&nbsp;&nbsp; $29877970 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 0.2%** | &nbsp;&nbsp; 58435 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $29936405 |

---

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> Rate disclosed is the seven day effective yield as of August 31, 2025.

---

| | | |
|:---|:---|:---|
| **ZACKS DIVIDEND FUND** | **ZACKS DIVIDEND FUND** | **ZACKS DIVIDEND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.6%** |  |
|  | **AEROSPACE & DEFENSE - 3.1%** |  |
| 5123 | General Dynamics Corporation | &nbsp;&nbsp;&nbsp; $1662773 |
| 3870 | L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp; 1074389 |
| 2740 | Lockheed Martin Corporation, Class B | &nbsp;&nbsp;&nbsp; 1248426 |
|  |  | &nbsp;&nbsp; 3985588 |
|  | **ASSET MANAGEMENT - 2.7%** |  |
| 3110 | Blackrock, Inc. | &nbsp;&nbsp;&nbsp; 3505405 |
|  | **BANKING - 13.4%** |  |
| 35946 | Bank of America Corporation | &nbsp;&nbsp;&nbsp; 1823900 |
| 13117 | Citigroup, Inc. | &nbsp;&nbsp;&nbsp; 1266709 |
| 13823 | Citizens Financial Group, Inc. | &nbsp;&nbsp;&nbsp; 722666 |
| 39074 | Fifth Third Bancorp | &nbsp;&nbsp;&nbsp; 1788417 |
| 22034 | JPMorgan Chase & Company | &nbsp;&nbsp;&nbsp; 6641488 |
| 6946 | PNC Financial Services Group, Inc. (The) | &nbsp;&nbsp;&nbsp; 1440878 |
| 33154 | US Bancorp | &nbsp;&nbsp;&nbsp; 1618910 |
| 25473 | Wells Fargo & Company | &nbsp;&nbsp;&nbsp; 2093371 |
|  |  | &nbsp;&nbsp; 17396339 |
|  | **BEVERAGES - 2.6%** |  |
| 28068 | Coca-Cola Company (The) | &nbsp;&nbsp;&nbsp; 1936411 |
| 9390 | PepsiCo, Inc. | &nbsp;&nbsp;&nbsp; 1395824 |
|  |  | &nbsp;&nbsp; 3332235 |
|  | **BIOTECH & PHARMA - 7.4%** |  |
| 13190 | AbbVie, Inc. | &nbsp;&nbsp;&nbsp; 2775176 |
| 7600 | Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp; 858572 |
| 16553 | Johnson & Johnson | &nbsp;&nbsp;&nbsp; 2932696 |
| 21036 | Merck & Company, Inc. | &nbsp;&nbsp;&nbsp; 1769548 |
| 51899 | Pfizer, Inc. | &nbsp;&nbsp;&nbsp; 1285019 |
|  |  | &nbsp;&nbsp; 9621011 |
|  | **CABLE & SATELLITE - 0.9%** |  |
| 32830 | Comcast Corporation, Class A | &nbsp;&nbsp;&nbsp; 1115235 |
|  | **CHEMICALS - 0.6%** |  |
| 10404 | DuPont de Nemours, Inc. | &nbsp;&nbsp;&nbsp; 800276 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS DIVIDEND FUND** | **ZACKS DIVIDEND FUND** | **ZACKS DIVIDEND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.6% (Continued)** |  |
|  | **DIVERSIFIED INDUSTRIALS - 0.7%** |  |
| 8491 | Pentair PLC | &nbsp;&nbsp;&nbsp; $913037 |
|  | **ELECTRIC UTILITIES - 3.2%** |  |
| 10331 | American Electric Power Company, Inc. | &nbsp;&nbsp;&nbsp; 1146948 |
| 16028 | Public Service Enterprise Group, Inc. | &nbsp;&nbsp;&nbsp; 1319585 |
| 19028 | Southern Company (The) | &nbsp;&nbsp;&nbsp; 1756284 |
|  |  | &nbsp;&nbsp; 4222817 |
|  | **ELECTRICAL EQUIPMENT - 1.3%** |  |
| 16453 | Johnson Controls International plc | &nbsp;&nbsp;&nbsp; 1758661 |
|  | **GAMING REITS - 0.4%** |  |
| 12029 | Gaming and Leisure Properties, Inc. | &nbsp;&nbsp;&nbsp; 577512 |
|  | **HEALTH CARE FACILITIES & SERVICES - 1.5%** |  |
| 3933 | Cigna Group (The) | &nbsp;&nbsp;&nbsp; 1183321 |
| 2671 | UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp; 827663 |
|  |  | &nbsp;&nbsp; 2010984 |
|  | **HEALTH CARE REIT - 0.4%** |  |
| 30407 | Healthpeak Properties, Inc. | &nbsp;&nbsp;&nbsp; 545502 |
|  | **HOUSEHOLD PRODUCTS - 2.5%** |  |
| 21045 | Procter & Gamble Company (The) | &nbsp;&nbsp;&nbsp; 3304907 |
|  | **INDUSTRIAL REIT - 1.1%** |  |
| 12494 | Prologis, Inc. | &nbsp;&nbsp;&nbsp; 1421567 |
|  | **INFRASTRUCTURE REIT - 0.6%** |  |
| 7436 | Crown Castle, Inc. | &nbsp;&nbsp;&nbsp; 737205 |
|  | **INSTITUTIONAL FINANCIAL SERVICES - 1.7%** |  |
| 21307 | Bank of New York Mellon Corporation (The) | &nbsp;&nbsp;&nbsp; 2250019 |
|  | **INSURANCE - 5.5%** |  |
| 7304 | Arthur J. Gallagher & Company | &nbsp;&nbsp;&nbsp; 2211286 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS DIVIDEND FUND** | **ZACKS DIVIDEND FUND** | **ZACKS DIVIDEND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.6% (Continued)** |  |
|  | **INSURANCE - 5.5% (Continued)** |  |
| 31757 | MetLife, Inc. | &nbsp;&nbsp;&nbsp; $2583750 |
| 21108 | Prudential Financial, Inc. | &nbsp;&nbsp;&nbsp; 2314703 |
|  |  | &nbsp;&nbsp; 7109739 |
|  | **INTERNET MEDIA & SERVICES - 3.2%** |  |
| 8831 | Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp; 1880208 |
| 3049 | Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp; 2252297 |
|  |  | &nbsp;&nbsp; 4132505 |
|  | **LEISURE FACILITIES & SERVICES - 1.5%** |  |
| 6089 | McDonald's Corporation | &nbsp;&nbsp;&nbsp; 1909145 |
|  | **MACHINERY - 6.2%** |  |
| 6413 | Caterpillar, Inc. | &nbsp;&nbsp;&nbsp; 2687304 |
| 2947 | Deere & Company | &nbsp;&nbsp;&nbsp; 1410552 |
| 5219 | Parker-Hannifin Corporation | &nbsp;&nbsp;&nbsp; 3963048 |
|  |  | &nbsp;&nbsp; 8060904 |
|  | **MEDICAL EQUIPMENT & DEVICES - 3.4%** |  |
| 8191 | Abbott Laboratories | &nbsp;&nbsp;&nbsp; 1086618 |
| 6356 | Becton Dickinson and Company | &nbsp;&nbsp;&nbsp; 1226581 |
| 3703 | Danaher Corporation | &nbsp;&nbsp;&nbsp; 762151 |
| 14513 | Medtronic PLC | &nbsp;&nbsp;&nbsp; 1346952 |
|  |  | &nbsp;&nbsp; 4422302 |
|  | **MULTI ASSET CLASS REIT - 0.7%** |  |
| 14226 | WP Carey, Inc. | &nbsp;&nbsp;&nbsp; 954565 |
|  | **OIL & GAS PRODUCERS - 6.5%** |  |
| 22869 | ConocoPhillips | &nbsp;&nbsp;&nbsp; 2263345 |
| 32544 | Exxon Mobil Corporation | &nbsp;&nbsp;&nbsp; 3719453 |
| 74017 | Kinder Morgan, Inc. | &nbsp;&nbsp;&nbsp; 1996979 |
| 12691 | Ovintiv, Inc. | &nbsp;&nbsp;&nbsp; 534545 |
|  |  | &nbsp;&nbsp; 8514322 |
|  | **RETAIL - CONSUMER STAPLES - 2.4%** |  |
| 32695 | Walmart, Inc. | &nbsp;&nbsp;&nbsp; 3170761 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS DIVIDEND FUND** | **ZACKS DIVIDEND FUND** | **ZACKS DIVIDEND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.6% (Continued)** |  |
|  | **RETAIL - DISCRETIONARY - 2.6%** |  |
| 8353 | Home Depot, Inc. (The) | &nbsp;&nbsp;&nbsp; $3397750 |
|  | **SEMICONDUCTORS - 3.0%** |  |
| 7167 | Broadcom, Inc. | &nbsp;&nbsp;&nbsp; 2131394 |
| 11478 | QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp; 1844859 |
|  |  | &nbsp;&nbsp; 3976253 |
|  | **SOFTWARE - 2.6%** |  |
| 6830 | Microsoft Corporation | &nbsp;&nbsp;&nbsp; 3460693 |
|  | **SPECIALTY FINANCE - 0.6%** |  |
| 14084 | Fidelity National Financial, Inc. | &nbsp;&nbsp;&nbsp; 843209 |
|  | **SPECIALTY REITS - 1.0%** |  |
| 10031 | Lamar Advertising Company, Class A | &nbsp;&nbsp;&nbsp; 1276445 |
|  | **TECHNOLOGY HARDWARE - 2.5%** |  |
| 46838 | Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp; 3236037 |
|  | **TECHNOLOGY SERVICES - 3.4%** |  |
| 2750 | Accenture PLC, Class A | &nbsp;&nbsp;&nbsp; 714918 |
| 3606 | Automatic Data Processing, Inc. | &nbsp;&nbsp;&nbsp; 1096404 |
| 3587 | Broadridge Financial Solutions, Inc. | &nbsp;&nbsp;&nbsp; 916909 |
| 6845 | International Business Machines Corporation | &nbsp;&nbsp;&nbsp; 1666689 |
|  |  | &nbsp;&nbsp; 4394920 |
|  | **TELECOMMUNICATIONS - 3.2%** |  |
| 71311 | AT&T, Inc. | &nbsp;&nbsp;&nbsp; 2088699 |
| 49941 | Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp; 2208890 |
|  |  | &nbsp;&nbsp; 4297589 |
|  | **TOBACCO & CANNABIS - 3.7%** |  |
| 22016 | Altria Group, Inc. | &nbsp;&nbsp;&nbsp; 1479695 |
| 20282 | Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp; 3389731 |
|  |  | &nbsp;&nbsp; 4869426 |
|  | **TRANSPORTATION & LOGISTICS - 2.4%** |  |
| 40882 | CSX Corporation | &nbsp;&nbsp;&nbsp; 1329074 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS DIVIDEND FUND** | **ZACKS DIVIDEND FUND** | **ZACKS DIVIDEND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.6% (Continued)** |  |
|  | **TRANSPORTATION & LOGISTICS - 2.4% (Continued)** |  |
| 4765 | Norfolk Southern Corporation | &nbsp;&nbsp;&nbsp; $1334104 |
| 4934 | United Parcel Service, Inc., Class B | &nbsp;&nbsp;&nbsp; 431429 |
|  |  | &nbsp;&nbsp; 3094607 |
|  | **TRANSPORTATION EQUIPMENT - 1.1%** |  |
| 3679 | Cummins, Inc. | &nbsp;&nbsp;&nbsp; 1465861 |
|  | **TOTAL COMMON STOCKS (Cost $97,656,889)** | &nbsp;&nbsp; 130085333 |
| **Shares** |  | **Fair Value** |
|  | **SHORT-TERM INVESTMENT — 0.3%** |  |
|  | **MONEY MARKET FUND - 0.3%** |  |
| 432213 | Federated Hermes Treasury Obligations Fund, Institutional Class, 4.13% (Cost $432,213)<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 432213 |
|  | **TOTAL INVESTMENTS - 99.9% (Cost $98,089,102)** | &nbsp;&nbsp;&nbsp; $130517546 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 0.1%** | &nbsp;&nbsp; 106298 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $130623844 |

---

<sup>(a)</sup> Rate disclosed is the seven day effective yield as of August 31, 2025.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Zacks Trust

- **b. Investment Company Act file number:** 811-23435

- **c. CIK number of Registrant:** 0001760588

- **d. LEI of Registrant:** 549300OYEV0F3420ER30

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

  - **Street Address 1:** 227 West Monroe Street

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606

  - **Telephone number:** 312-265-9359

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

- **a. Name of Series:** Zacks Dividend Fund

- **b. EDGAR series identifier (if any):** S000081340

- **c. LEI of Series:** 529900K8WKSFO0BV9D88

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

- **a. Date of fiscal year-end:** 2025-11-30

- **b. Date as of which information is reported:** 2025-08-31

**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:** $130870968.23

**Total Liabilities:** $247124.08

**Net Assets:** $130623844.15

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000244047 | 3.37%                | 0.82%                | 3.24%                |
| Class ID C000244048 | 3.42%                | 0.83%                | 3.28%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $565729.53               | $3285256.54                                |
| Month 2  | $712219.13               | $205796.51                                 |
| Month 3  | $259841.37               | $3760508.14                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Johnson & Johnson                            | JOHNSON&JOHNSON  | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     16553 | NS      | $2932695.01   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Lockheed Martin Corporation                  | LOCKHEED MARTIN  | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |      2740 | NS      | $1248426.20   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                                  | WALMART INC      | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     32695 | NS      | $3170761.10   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corp.        | IBM              | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      6845 | NS      | $1666689.05   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co.                                 | SOUTHERN CO      | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |     19028 | NS      | $1756284.40   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corporation                 | NORFOLK SOUTHERN | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |      4765 | NS      | $1334104.70   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc.                                | PROLOGIS INC     | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     12494 | NS      | $1421567.32   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc.                                  | ABBVIE INC       | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     13190 | NS      | $2775176.00   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corporation                 | GENERAL DYNAMICS | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |      5123 | NS      | $1662772.11   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc.                                | QUALCOMM INC     | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     11478 | NS      | $1844858.94   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc.                  | VERIZON COMMUNIC | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     49941 | NS      | $2208890.43   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Gallagher Aj &Co                             | ARTHUR J GALLAGH | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |      7304 | NS      | $2211286.00   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| W. P. Carey Inc                              | WP CAREY INC     | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |     14226 | NS      | $954564.60    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc                    | HEALTHPEAK PROPE | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |     30407 | NS      | $545501.58    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc.             | PHILIP MORRIS IN | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     20282 | NS      | $3389730.66   | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico Inc                                  | PEPSICO INC      | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      9390 | NS      | $1395823.50   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| The Procter & Gamble Co.                     | PROCTER & GAMBLE | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     21045 | NS      | $3304906.80   | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife Inc.                                 | METLIFE INC      | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |     31757 | NS      | $2583749.52   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                            | EXXON MOBIL CORP | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     32544 | NS      | $3719453.76   | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                               | CONOCOPHILLIPS   | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     22869 | NS      | $2263344.93   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. Bancorp.                                | US BANCORP       | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |     33154 | NS      | $1618909.82   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corporation                          | DANAHER CORP     | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      3703 | NS      | $762151.46    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc.                                  | PFIZER INC       | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |     51899 | NS      | $1285019.24   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                               | CITIGROUP INC    | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     13117 | NS      | $1266708.69   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX Corporation                              | CSX CORP         | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |     40882 | NS      | $1329073.82   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Service Enterprise Group Incorporated | PUB SERV ENTERP  | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |     16028 | NS      | $1319585.24   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corporation                          | COMCAST CORP-A   | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     32830 | NS      | $1115235.10   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                          | ABBOTT LABS      | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      8191 | NS      | $1086618.06   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Parker-Hannifin Corp.                        | PARKER HANNIFIN  | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |      5219 | NS      | $3963047.65   | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing, Inc.              | AUTOMATIC DATA   | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      3606 | NS      | $1096404.30   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                                     | AT&T INC         | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     71311 | NS      | $2088699.19   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Cummins Inc.                                 | CUMMINS INC      | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |      3679 | NS      | $1465860.76   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Pentair PLC                                  | PENTAIR PLC      | CUSIP: G7S00T104<br>LEI: 549300EVR9D56WPSRP15 | Long             | EC               | CORP              | IE        |      8491 | NS      | $913037.23    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                              | CATERPILLAR INC  | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      6413 | NS      | $2687303.52   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group, Inc.                           | ALTRIA GROUP INC | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |     22016 | NS      | $1479695.36   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                                | ACCENTURE PLC-A  | CUSIP: G1151C101<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |      2750 | NS      | $714917.50    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| L3 Harris Technologies Inc                   | L3HARRIS TECHNOL | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |      3870 | NS      | $1074389.40   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Controls International PLC           | JOHNSON CONTROLS | CUSIP: G51502105<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | IE        |     16453 | NS      | $1758661.17   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Company                    | LAMAR ADVERTIS-A | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |     10031 | NS      | $1276444.75   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential Financial, Inc.                   | PRUDENTL FINL    | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EC               | CORP              | US        |     21108 | NS      | $2314703.28   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon Corp.            | BANK NY MELLON   | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |     21307 | NS      | $2250019.20   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                          | CISCO SYSTEMS    | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     46838 | NS      | $3236037.42   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Money Market Obligations Trust               | FH-TR OBL-INS    | CUSIP: 60934N500<br>LEI: 25490005VWJDWX717014 | Long             | STIV             | RF                | US        |    432213 | PA      | $432213.15    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan, Inc.                          | KINDER MORGAN IN | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |     74017 | NS      | $1996978.66   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc.                         | GILEAD SCIENCES  | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      7600 | NS      | $858572.00    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp.                             | MCDONALDS CORP   | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      6089 | NS      | $1909145.06   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                           | META PLATFORMS-A | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      3049 | NS      | $2252296.30   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                          | FIFTH THIRD BANC | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |     39074 | NS      | $1788416.98   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Inc.                               | BLACKROCK INC    | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |      3110 | NS      | $3505405.40   | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                         | JPMORGAN CHASE   | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     22034 | NS      | $6641488.28   | 5.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                              | MICROSOFT CORP   | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      6830 | NS      | $3460692.70   | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service, Inc.                  | UNITED PARCEL-B  | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |      4934 | NS      | $431428.96    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                                | MEDTRONIC PLC    | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     14513 | NS      | $1346951.53   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group Inc.            | PNC FINANCIAL SE | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |      6946 | NS      | $1440878.24   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co (The)                           | COCA-COLA CO/THE | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     28068 | NS      | $1936411.32   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Company                              | DEERE & CO       | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      2947 | NS      | $1410552.08   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc                 | CITIZENS FINANCI | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     13823 | NS      | $722666.44    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                                 | BROADCOM INC     | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      7167 | NS      | $2131394.13   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties Inc            | GAMING AND LEISU | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |     12029 | NS      | $577512.29    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co.                            | WELLS FARGO & CO | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     25473 | NS      | $2093371.14   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton, Dickinson and Company                | BECTON DICKINSON | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |      6356 | NS      | $1226580.88   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co, Inc.             | AMERICAN ELECTRI | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |     10331 | NS      | $1146947.62   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                        | BANK OF AMERICA  | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     35946 | NS      | $1823900.04   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Dupont De Nemours Inc                        | DUPONT DE NEMOUR | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |     10404 | NS      | $800275.68    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc.                              | HOME DEPOT INC   | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      8353 | NS      | $3397749.81   | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| The Cigna Group                              | THE CIGNA GROUP  | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      3933 | NS      | $1183321.71   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv Inc                                  | OVINTIV INC      | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |     12691 | NS      | $534544.92    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc                             | MERCK & CO       | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     21036 | NS      | $1769548.32   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc.                            | CROWN CASTLE INC | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |      7436 | NS      | $737205.04    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Financial, Inc.            | FIDELITY NATIONA | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |     14084 | NS      | $843209.08    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadridge Financial Solutions Inc.          | BROADRIDGE FINL  | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               | CORP              | US        |      3587 | NS      | $916908.94    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                                | ALPHABET INC-A   | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      8831 | NS      | $1880208.21   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.                      | UNITEDHEALTH GRP | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      2671 | NS      | $827662.77    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-26

**Name of Applicant:** Zacks Trust

**Signature:** Edward Kelly

**Name of Signer:** Edward Kelly

**Title:** Assistant Treasurer