# EDGAR Filing Document

**Accession Number:** 0001592900
**File Stem:** 0001592900-25-002511
**Filing Date:** 2025-8
**Character Count:** 30510
**Document Hash:** 40732abe42ef706686beac4276ee788b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001592900-25-002511.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001592900-25-002511

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**PERIOD START**: 20250930

**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:** 251280085

**BUSINESS ADDRESS:**
- **STREET 1:** 3803 WEST CHESTER PIKE, SUITE 150
- **CITY:** NEWTOWN SQUARE
- **STATE:** PA
- **ZIP:** 19073
- **BUSINESS PHONE:** 1.215.882.9983

**MAIL ADDRESS:**
- **STREET 1:** 3803 WEST CHESTER PIKE, SUITE 150
- **CITY:** NEWTOWN SQUARE
- **STATE:** PA
- **ZIP:** 19073

**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

### Alpha Architect U.S. Quantitative Value ETF (Series ID: S000046016)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000143786 | Alpha Architect U.S. Quantitative Value ETF | QVAL            |

## Nport-Ex

---

| |
|:---|
| **ALPHA ARCHITECT U.S. QUANTITATIVE VALUE ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.7%** | **Shares** | **Value**  |
| **<u>Communication Services</u> - 8.0%** | |  |
| **Broadcasting - 4.0%** |  |  |
| Fox Corp. - Class A  | 135827 | $7611745 |
| Nexstar Media Group, Inc.  | 44161 | 7637645 |
|  |  | 15249390 |
| **Cable & Satellite - 2.0%** |  |  |
| Comcast Corp. - Class A  | 212029 | 7567315 |
| **Integrated Telecommunication Services - 2.0%** |  |  |
| Verizon Communications, Inc.  | 176658 | 7643992 |
| **Total Communication Services** |  | 30460697 |
| **<u>Consumer Discretionary</u> - 18.0%** |  |  |
| **Apparel Retail - 4.0%** |  |  |
| Gap, Inc.  | 344196 | 7506915 |
| Urban Outfitters, Inc. <sup>(a)</sup> | 105142 | 7627001 |
|  |  | 15133916 |
| **Automobile Manufacturers - 2.0%** |  |  |
| General Motors Co.  | 153373 | 7547485 |
| **Automotive Parts & Equipment - 2.0%** |  |  |
| Aptiv PLC <sup>(a)</sup> | 110322 | 7526167 |
| **Automotive Retail - 2.0%** |  |  |
| Lithia Motors, Inc.  | 22631 | 7645204 |
| **Footwear - 2.0%** |  |  |
| Crocs, Inc. <sup>(a)</sup> | 74466 | 7541917 |
| **Homebuilding - 2.0%** |  |  |
| NVR, Inc. <sup>(a)</sup> | 1017 | 7511216 |
| **Leisure Products - 2.0%** |  |  |
| YETI Holdings, Inc. <sup>(a)</sup> | 240718 | 7587431 |
| **Specialized Consumer Services - 2.0%** |  |  |
| ADT, Inc.  | 894298 | 7574704 |
| **Total Consumer Discretionary** |  | 68068040 |
| **<u>Consumer Staples</u> - 6.0%** |  |  |
| **Agricultural Products & Services - 2.0%** |  |  |
| Ingredion, Inc.  | 55869 | 7576954 |

---

------

---

| |
|:---|
| **ALPHA ARCHITECT U.S. QUANTITATIVE VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.7% (CONTINUED)** | **Shares** | **Value**  |
| **Packaged Foods & Meats - 2.0%** |  |  |
| Cal-Maine Foods, Inc.  | 76021 | $7573972 |
| **Tobacco - 2.0%** |  |  |
| Altria Group, Inc.  | 128882 | 7556352 |
| **Total Consumer Staples** |  | 22707278 |
| **<u>Energy</u> - 7.9%** |  |  |
| **Oil & Gas Equipment & Services - 5.9%** |  |  |
| Baker Hughes Co.  | 195016 | 7476913 |
| Schlumberger NV  | 221082 | 7472572 |
| TechnipFMC PLC  | 217539 | 7492043 |
|  |  | 22441528 |
| **Oil & Gas Exploration & Production - 2.0%** |  |  |
| Permian Resources Corp.  | 546966 | 7449677 |
| **Total Energy** |  | 29891205 |
| **<u>Health Care</u> - 20.0%** |  |  |
| **Biotechnology - 6.0%** |  |  |
| Exelixis, Inc. <sup>(a)</sup> | 171745 | 7569661 |
| Halozyme Therapeutics, Inc. <sup>(a)</sup> | 144283 | 7505602 |
| United Therapeutics Corp. <sup>(a)</sup> | 26159 | 7516788 |
|  |  | 22592051 |
| **Health Care Facilities - 2.0%** |  |  |
| Universal Health Services, Inc. - Class B  | 42441 | 7688187 |
| **Health Care Services - 4.0%** |  |  |
| Cigna Group  | 22925 | 7578546 |
| DaVita, Inc. <sup>(a)</sup> | 53240 | 7584038 |
|  |  | 15162584 |
| **Health Care Supplies - 2.0%** |  |  |
| Lantheus Holdings, Inc. <sup>(a)</sup> | 91867 | 7520233 |
| **Managed Health Care - 6.0%** |  |  |
| Centene Corp. <sup>(a)</sup> | 140621 | 7632908 |
| Elevance Health, Inc.  | 19416 | 7552048 |
| Molina Healthcare, Inc. <sup>(a)</sup> | 25477 | 7589598 |
|  |  | 22774554 |
| **Total Health Care** |  | 75737609 |
| **<u>Industrials</u> - 21.9%** |  |  |
| **Air Freight & Logistics - 2.0%** |  |  |
| Expeditors International of Washington, Inc.  | 66494 | 7596939 |

---

------

---

| |
|:---|
| **ALPHA ARCHITECT U.S. QUANTITATIVE VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.7% (CONTINUED)** | **Shares** | **Value**  |
| **Building Products - 2.0%** |  |  |
| Masco Corp.  | 117314 | $7550329 |
| **Construction Machinery & Heavy Transportation Equipment - 4.0%** |  |  |
| Allison Transmission Holdings, Inc.  | 79268 | 7529667 |
| Cummins, Inc.  | 23033 | 7543308 |
|  |  | 15072975 |
| **Data Processing & Outsourced Services - 2.0%** |  |  |
| Maximus, Inc.  | 107558 | 7550572 |
| **Electrical Components & Equipment - 1.9%** |  |  |
| NEXTracker, Inc. - Class A <sup>(a)</sup> | 136420 | 7417155 |
| **Industrial Machinery & Supplies & Components - 2.0%** |  |  |
| Snap-on, Inc.  | 24404 | 7594037 |
| **Passenger Airlines - 2.0%** |  |  |
| United Airlines Holdings, Inc. <sup>(a)</sup> | 94512 | 7525991 |
| **Research & Consulting Services - 4.0%** |  |  |
| Booz Allen Hamilton Holding Corp.  | 72183 | 7516416 |
| Leidos Holdings, Inc.  | 48019 | 7575477 |
|  |  | 15091893 |
| **Trading Companies & Distributors - 2.0%** |  |  |
| Wesco International, Inc.  | 40436 | 7488747 |
| **Total Industrials** |  | 82888638 |
| **<u>Information Technology</u> - 6.0%** |  |  |
| **IT Consulting & Other Services - 2.0%** |  |  |
| Cognizant Technology Solutions Corp. - Class A  | 96633 | 7540273 |
| **Semiconductors - 2.0%** |  |  |
| Cirrus Logic, Inc. <sup>(a)</sup> | 71931 | 7499166 |
| **Technology Distributors - 2.0%** |  |  |
| TD Synnex Corp.  | 56190 | 7624983 |
| **Total Information Technology** |  | 22664422 |
| **<u>Materials</u> - 11.9%** |  |  |
| **Aluminum - 2.0%** |  |  |
| Alcoa Corp.  | 257149 | 7588467 |

---

------

---

| |
|:---|
| **ALPHA ARCHITECT U.S. QUANTITATIVE VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.7% (CONTINUED)** | **Shares** | **Value**  |
| **Copper - 2.0%** |  |  |
| Southern Copper Corp.  | 73528 | $7438828 |
| **Fertilizers & Agricultural Chemicals - 2.0%** |  |  |
| CF Industries Holdings, Inc.  | 82348 | 7576016 |
| **Gold - 2.0%** |  |  |
| Newmont Corp.  | 130841 | 7622796 |
| **Metal, Glass & Plastic Containers - 2.0%** |  |  |
| Crown Holdings, Inc.  | 73161 | 7534120 |
| **Specialty Chemicals - 1.9%** |  |  |
| Eastman Chemical Co.  | 99471 | 7426505 |
| **Total Materials** |  | 45186732 |
| **TOTAL COMMON STOCKS** (Cost $367,050,314) |  | 377604621 |
| **SHORT-TERM INVESTMENTS - 0.2%** |  |  |
| **Money Market Funds - 0.2%** |  |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(b)</sup> | 628552 | 628552 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $628,552) |  | 628552 |
| **TOTAL INVESTMENTS - 99.9% (**Cost $367,678,866**)** |  | $378233173 |
| Other Assets in Excess of Liabilities - 0.1%  |  | 362388 |
| **TOTAL NET ASSETS - 100.0%** |  | $378595561 |

---

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 June 30, 2025.

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

------

**ALPHA ARCHITECT ETFs**

**Summary of Fair Value Disclosure as of June 30, 2025 (Unaudited)**

Alpha Architect U.S. Quantitative Value ETF (the "Fund") has adopted fair value accounting standards which establish a 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 valuation 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 based on the best information available.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **DESCRIPTION** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** | **TOTAL** |
| **<u>Investments:</u>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $377604621 | $— | $— | $377604621 |
| &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 628552 |  |  | 628552 |
| Total Investments | $378233173 | $— | $— | $378233173 |

---

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

During the fiscal period ended June 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:** 3803 West Chester Pike

  - **City:** Newtown Square

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** PA

  - **Telephone number:** 2158829983

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

- **a. Name of Series:** Alpha Architect U.S. Quantitative Value ETF

- **b. EDGAR series identifier (if any):** S000046016

- **c. LEI of Series:** 549300WF0ECM52EQ7627

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $378692437.32

**Total Liabilities:** $89270.68

**Net Assets:** $378603166.64

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000143786 | -3.68%               | 5.47%                | 1.95%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-151025.23              | $-13806276.22                              |
| Month 2  | $-8608680.45             | $26679188.47                               |
| Month 3  | $1736855.82              | $4576106.98                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| General Motors Co                          | General Motors Co                          | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |    149060 | NS      | $7335242.60   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Leidos Holdings Inc                        | Leidos Holdings Inc                        | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |     50431 | NS      | $7955994.56   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| DAVITA INC                                 | DAVITA INC                                 | CUSIP: 23918K108<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | EC               | CORP              | US        |     54394 | NS      | $7748425.30   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Molina Healthcare Inc                      | Molina Healthcare Inc                      | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |     24152 | NS      | $7194880.80   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| United Airlines Holdings Inc               | United Airlines Holdings Inc               | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               | CORP              | US        |     94068 | NS      | $7490634.84   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Lithia Motors Inc                          | Lithia Motors Inc                          | CUSIP: 536797103<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | EC               | CORP              | US        |     23504 | NS      | $7940121.28   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc                 | Verizon Communications Inc                 | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    168592 | NS      | $7294975.84   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Dick's Sporting Goods Inc                  | Dick's Sporting Goods Inc                  | CUSIP: 253393102<br>LEI: 529900SSBV5I4LWSK313 | Long             | EC               | CORP              | US        |     41763 | NS      | $8261139.03   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group Inc                    | Nexstar Media Group Inc                    | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |     43756 | NS      | $7567600.20   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO International Inc                    | WESCO International Inc                    | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |     44181 | NS      | $8182321.20   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Cal-Maine Foods Inc                        | Cal-Maine Foods Inc                        | CUSIP: 128030202<br>LEI: 549300NHE5WMIEIEMF53 | Long             | EC               | CORP              | US        |     77245 | NS      | $7695919.35   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Services Inc              | Universal Health Services Inc              | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |     38821 | NS      | $7032424.15   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc                  | Halozyme Therapeutics Inc                  | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |    133720 | NS      | $6956114.40   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Booz Allen Hamilton Holding Corp           | Booz Allen Hamilton Holding Corp           | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |     70317 | NS      | $7322109.21   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Allison Transmission Holdings Inc          | Allison Transmission Holdings Inc          | CUSIP: 01973R101<br>LEI: 529900RP7DJ882LI9T83 | Long             | EC               | CORP              | US        |     71668 | NS      | $6807743.32   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc                      | Lantheus Holdings Inc                      | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |     98672 | NS      | $8077289.92   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTracker Inc                             | NEXTracker Inc                             | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    130282 | NS      | $7083432.34   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp                     | Permian Resources Corp                     | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    586820 | NS      | $7992488.40   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| YETI Holdings Inc                          | YETI Holdings Inc                          | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |    241816 | NS      | $7622040.32   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co                            | Baker Hughes Co                            | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    201882 | NS      | $7740155.88   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corp                                   | Fox Corp                                   | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |    135827 | NS      | $7611745.08   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group/The                            | Cigna Group/The                            | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |     23371 | NS      | $7725985.18   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger NV                            | Schlumberger NV                            | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |    224771 | NS      | $7597259.80   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                             | TechnipFMC PLC                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | GB        |    239158 | NS      | $8236601.52   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obligations Fund | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    628552 | PA      | $628552.17    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingredion Inc                              | Ingredion Inc                              | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |     53398 | NS      | $7241836.76   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Hess Corp                                  | Hess Corp                                  | CUSIP: 42809H107<br>LEI: UASVRYNXNK17ULIGK870 | Long             | EC               | CORP              | US        |     56373 | NS      | $7809915.42   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions Corp        | Cognizant Technology Solutions Corp        | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |     92611 | NS      | $7226436.33   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Maximus Inc                                | Maximus Inc                                | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |    102477 | NS      | $7193885.40   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| ELEVANCE HEALTH INC                        | ELEVANCE HEALTH INC                        | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |     19088 | NS      | $7424468.48   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp                               | Centene Corp                               | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |    130459 | NS      | $7081314.52   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Holdings Inc                         | Crown Holdings Inc                         | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |     75639 | NS      | $7789304.22   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                               | Comcast Corp                               | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    215423 | NS      | $7688446.87   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Cummins Inc                                | Cummins Inc                                | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |     22967 | NS      | $7521692.50   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Expeditors International of Washington Inc | Expeditors International of Washington Inc | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |     65847 | NS      | $7523019.75   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV Inc                                    | NOV Inc                                    | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |    616808 | NS      | $7666923.44   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Gap Inc/The                                | Gap Inc/The                                | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |    325089 | NS      | $7090191.09   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Outfitters Inc                       | Urban Outfitters Inc                       | CUSIP: 917047102<br>LEI: 549300N3DUFR5U6NRN38 | Long             | EC               | CORP              | US        |    103365 | NS      | $7498097.10   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastman Chemical Co                        | Eastman Chemical Co                        | CUSIP: 277432100<br>LEI: FDPVHDGJ1IQZFK9KH630 | Long             | EC               | CORP              | US        |     94513 | NS      | $7056340.58   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group Inc                           | Altria Group Inc                           | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |    123023 | NS      | $7212838.49   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Cirrus Logic Inc                           | Cirrus Logic Inc                           | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |     75996 | NS      | $7922962.98   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings Inc                 | CF Industries Holdings Inc                 | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |     81981 | NS      | $7542252.00   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp                   | United Therapeutics Corp                   | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |     23359 | NS      | $6712208.65   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Masco Corp                                 | Masco Corp                                 | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | EC               | CORP              | US        |    119205 | NS      | $7672033.80   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Snap-on Inc                                | Snap-on Inc                                | CUSIP: 833034101<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | EC               | CORP              | US        |     23255 | NS      | $7236490.90   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Copper Corp                       | Southern Copper Corp                       | CUSIP: 84265V105<br>LEI: 2549007U6NAP46Q9TU15 | Long             | EC               | CORP              | US        |     82428 | NS      | $8339240.76   | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| NVR Inc                                    | NVR Inc                                    | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |      1047 | NS      | $7732786.02   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis Inc                               | Exelixis Inc                               | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |    174830 | NS      | $7705632.25   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                               | Newmont Corp                               | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |    139024 | NS      | $8099538.24   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                             | Merck & Co Inc                             | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     96141 | NS      | $7610521.56   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ADT Inc                                    | ADT Inc                                    | CUSIP: 00090Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    897108 | NS      | $7598504.76   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** EA Series Trust

**Signature:** /s/ Sean Hegarty

**Name of Signer:** Sean Hegarty

**Title:** Treasurer