# EDGAR Filing Document

**Accession Number:** 0001547950
**File Stem:** 0000910472-26-005917
**Filing Date:** 2026-4
**Character Count:** 33841
**Document Hash:** 328d8a21d732edfecdfa6f5e5724b565
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-005917.hdr.sgml**: 20260428

**ACCESSION NUMBER**: 0000910472-26-005917

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260428

**DATE AS OF CHANGE**: 20260428

**PERIOD START**: 20261130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Exchange Listed Funds Trust
- **CENTRAL INDEX KEY:** 0001547950

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22700
- **FILM NUMBER:** 26904161

**BUSINESS ADDRESS:**
- **STREET 1:** 10900 HEFNER POINTE DRIVE
- **STREET 2:** SUITE 400
- **CITY:** OKLAHOMA CITY
- **STATE:** OK
- **ZIP:** 73120
- **BUSINESS PHONE:** 405-778-8377

**MAIL ADDRESS:**
- **STREET 1:** 10900 HEFNER POINTE DRIVE
- **STREET 2:** SUITE 400
- **CITY:** OKLAHOMA CITY
- **STATE:** OK
- **ZIP:** 73120

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Exchange Traded Concepts Trust II
- **DATE OF NAME CHANGE:** 20120420

## Series and Classes Contracts Data

### Saba Closed-End Funds ETF (Series ID: S000056657)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000179256 | Saba Closed-End Funds ETF | CEFS            |

## Nport-Ex

**SABA CLOSED-END FUNDS ETF**

**SCHEDULE OF INVESTMENTS (Unaudited)**

**February 28, 2026**

---

| | | |
|:---|:---|:---|
| **Closed End Funds — 86.5%** | **<u>Shares</u>** | **<u>Fair Value</u>** |
| **Alternative — 7.9%** | **Alternative — 7.9%** | **Alternative — 7.9%** |
| BlackRock ESG Capital Allocation Term Trust <sup>(a)</sup> | &nbsp;&nbsp;&nbsp;1862301 | $28195237 |
| Destra Multi-Alternative Fund | &nbsp;&nbsp;&nbsp;267238 | 2276868 |
|  |  | 30472105 |
| **Equity — 54.1%** | **Equity — 54.1%** | **Equity — 54.1%** |
| abrdn Life Sciences Investors <sup>(a)</sup> | &nbsp;&nbsp;&nbsp;180925 | 3012401 |
| Adams Natural Resources Fund, Inc. | &nbsp;&nbsp;&nbsp;34706 | 908603 |
| ASA Gold and Precious Metals Ltd. | &nbsp;&nbsp;&nbsp;575128 | 46752154 |
| BlackRock Enhanced Global Dividend Trust <sup>(a)</sup> | &nbsp;&nbsp;&nbsp;447071 | 5387206 |
| BlackRock Science and Technology Term Trust <sup>(a)</sup> | &nbsp;&nbsp;&nbsp;1553322 | 35353608 |
| Bluerock Private Real Estate Fund | &nbsp;&nbsp;&nbsp;347660 | 6077097 |
| Clough Global Equity Fund | &nbsp;&nbsp;&nbsp;89698 | 740905 |
| Gabelli Dividend & Income Trust (The) <sup>(a)</sup> | &nbsp;&nbsp;&nbsp;534152 | 15420968 |
| Gabelli Healthcare & WellnessRx Trust (The) | &nbsp;&nbsp;&nbsp;260802 | 2600196 |
| General American Investors Company, Inc. <sup>(a)</sup> | &nbsp;&nbsp;&nbsp;207515 | 12822352 |
| Japan Smaller Capitalization Fund, Inc. | &nbsp;&nbsp;&nbsp;473402 | 5855983 |
| John Hancock Diversified Income Fund | &nbsp;&nbsp;&nbsp;77473 | 890165 |
| Korea Fund, Inc. (The) | &nbsp;&nbsp;&nbsp;62567 | 3577581 |
| Mexico Equity and Income Fund, Inc. (The) | &nbsp;&nbsp;&nbsp;1943 | 27474 |
| Mexico Fund, Inc. (The) | &nbsp;&nbsp;&nbsp;226409 | 5164389 |
| Morgan Stanley China A Share Fund, Inc. | &nbsp;&nbsp;&nbsp;41762 | 762157 |
| Morgan Stanley India Investment Fund, Inc. | &nbsp;&nbsp;&nbsp;59062 | 1408629 |
| Neuberger Berman Energy Infrastructure and Income Fund, Inc. | &nbsp;&nbsp;&nbsp;974877 | 9963243 |
| Neuberger Next Generation Connectivity<br> Fund, Inc. <sup>(a)</sup> | &nbsp;&nbsp;&nbsp;741785 | 9999262 |
| New Germany Fund, Inc. (The) | &nbsp;&nbsp;&nbsp;426329 | 5124475 |
| Nuveen Dow 30sm Dynamic Overwrite Fund | &nbsp;&nbsp;&nbsp;325377 | 4978268 |
| NYLI CBRE Global Infrastructure Megatrends Term Fund <sup>(a)</sup> | &nbsp;&nbsp;&nbsp;471240 | 7459729 |
| Royce Micro-Cap Trust, Inc. | &nbsp;&nbsp;&nbsp;535861 | 6542863 |
| Taiwan Fund, Inc. (The) | &nbsp;&nbsp;&nbsp;22534 | 1486793 |
| Templeton Dragon Fund, Inc. | &nbsp;&nbsp;&nbsp;70425 | 812705 |
| Total Return Securities Fund, USD Class | &nbsp;&nbsp;&nbsp;31579 | 196106 |
| Tri-Continental Corporation | &nbsp;&nbsp;&nbsp;248792 | 8232527 |
| Virtus Artificial Intelligence & Technology | &nbsp;&nbsp;&nbsp;152049 | 3500168 |
| Voya Asia Pacific High Dividend Equity Income Fund | &nbsp;&nbsp;&nbsp;293153 | 2380402 |
| Voya Emerging Markets High Dividend Equity Fund | &nbsp;&nbsp;&nbsp;154629 | 1096320 |
|  |  | 208534729 |
| **Fixed Income — 15.1%** | **Fixed Income — 15.1%** | **Fixed Income — 15.1%** |
| AllianceBernstein National Municipal Income Fund, Inc. | &nbsp;&nbsp;&nbsp;92277 | 1026120 |
| Bancroft Fund Ltd. | &nbsp;&nbsp;&nbsp;30015 | 683742 |
| BNY Mellon Municipal Bond Infrastructure Fund, Inc. | &nbsp;&nbsp;&nbsp;402526 | 4472064 |
| BNY Mellon Strategic Municipal Bond Fund, Inc. | &nbsp;&nbsp;&nbsp;363436 | 2246034 |
| BNY Mellon Strategic Municipals, Inc. | &nbsp;&nbsp;&nbsp;808086 | 5260640 |
| Ellsworth Growth and Income Fund Ltd. | &nbsp;&nbsp;&nbsp;183535 | 2152866 |
| High Income Securities Fund | &nbsp;&nbsp;&nbsp;178077 | 1066681 |
| Highland Opportunities and Income Fund | &nbsp;&nbsp;&nbsp;717411 | 4462296 |
| MFS High Income Municipal Trust | &nbsp;&nbsp;&nbsp;128899 | 494972 |
| MFS Municipal Income Trust | &nbsp;&nbsp;&nbsp;48919 | 273457 |
| Nuveen Pennsylvania Quality Municipal Income Fund <sup>(a)</sup> | &nbsp;&nbsp;&nbsp;146469 | 1762022 |
| Oxford Lane Capital Corporation, USD Class | &nbsp;&nbsp;&nbsp;1141782 | 9579552 |
| PIMCO California Municipal Income Fund | &nbsp;&nbsp;&nbsp;92169 | 840581 |
| PIMCO Dynamic Income Strategy Fund <sup>(a)</sup> | &nbsp;&nbsp;&nbsp;577594 | 11667400 |
| PIMCO New York Municipal Income Fund II | &nbsp;&nbsp;&nbsp;55468 | 397706 |
| RiverNorth Flexible Muni Income Fund II, Inc | &nbsp;&nbsp;&nbsp;155933 | 2055197 |

---

---

| | | |
|:---|:---|:---|
| **Closed End Funds — 86.5% (continued)** | **<u>Shares</u>** | **<u>Fair Value</u>** |
| **Fixed Income — 15.1% (continued)** | **Fixed Income — 15.1% (continued)** | **Fixed Income — 15.1% (continued)** |
| Saba Capital Income & Opportunities Fund II <sup>(b)</sup> | &nbsp;&nbsp;&nbsp;302398 | $2431280 |
| Virtus Convertible & Income Fund | &nbsp;&nbsp;&nbsp;206024 | 3360251 |
| Virtus Convertible & Income Fund II | &nbsp;&nbsp;&nbsp;196734 | 2895924 |
| Western Asset Inflation-Linked Opportunities & | &nbsp;&nbsp;&nbsp;140585 | 1224495 |
|  |  | 58353280 |
| **Mixed Allocation — 9.4%** | **Mixed Allocation — 9.4%** | **Mixed Allocation — 9.4%** |
| Bexil Investment Trust | &nbsp;&nbsp;&nbsp;27325 | 442938 |
| Clough Global Dividend and Income Fund | &nbsp;&nbsp;&nbsp;59128 | 374280 |
| Clough Global Opportunities Fund | &nbsp;&nbsp;&nbsp;196200 | 1185048 |
| Virtus AllianzGI Equity & Convertible Income Fund | &nbsp;&nbsp;&nbsp;240544 | 6109818 |
| Virtus Dividend Interest & Premium Strategy Fund<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;1861226 | 25219612 |
| Virtus Total Return Fund, Inc. | &nbsp;&nbsp;&nbsp;387535 | 2735997 |
|  |  | 36067693 |
| **Total Closed End Funds** |  |  |
| **(Cost $274,755,409)** |  | **333427807** |
| **Total Investments — 86.5%** |  |  |
| **(Cost $274,755,409)** |  | **333427807** |
| **Exchange-Traded Funds Short — (11.2)%** | **<u>Shares</u>** | **<u>Fair Value</u>** |
| **Equity** — **(11.2)%** |  |  |
| VanEck Gold Miners ETF | &nbsp;&nbsp; (319557) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37017483) |
| VanEck Junior Gold Miners ETF | &nbsp;&nbsp; (38792) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6058922) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43076405) |
| **Total Exchange-Traded Funds Short**<br> **(Proceeds $22,775,700)** |  | **(43076405)** |
| **Other Assets in Excess of Liabilities — 24.7%** |  | 95448968 |
| **Total Net Assets — 100.0%** |  | **$385800370** |

---

<sup>(a)</sup> All or a portion of this security is pledged as collateral for borrowings as of February 28, 2026. The aggregate value of those securities was $51,012,036, representing 13.2% of net assets.

<sup>(b)</sup> Affiliated issuer.

**SABA CLOSED-END FUNDS ETF**

**SCHEDULE OF INVESTMENTS (Unaudited)(Continued)**

**February 28, 2026**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Short Futures Contracts** | **Number of Contracts** | **Expiration Date** | **Notional Amount** | **Value** | **Unrealized Appreciation (Depreciation)** |
| **FUTURES** | **FUTURES** | **FUTURES** | **FUTURES** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CBOT 10 Year US Treasury Note | (220) | June 2026 | $(24909883) | &nbsp;&nbsp;&nbsp; $(25038750) | &nbsp;&nbsp;&nbsp; $(128867) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CBOT 5 Year US Treasury Note | (61) | July 2026 | (6699039) | &nbsp;&nbsp;&nbsp; (6718578) | &nbsp;&nbsp;&nbsp; (19539) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CME E-mini Russell 2000 Index Futures | (45) | March 2026 | (5725575) | &nbsp;&nbsp;&nbsp; (5928075) | &nbsp;&nbsp;&nbsp; (202500) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CME E-Mini Standard & Poor's 500 Index Future | (50) | March 2026 | (17226500) | &nbsp;&nbsp;&nbsp; (17222500) | &nbsp;&nbsp;&nbsp; 4000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Futures** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Futures** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Futures** | $(54560997) | &nbsp;&nbsp; $(54907903) | &nbsp;&nbsp; $(346906) |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Exchange Listed Funds Trust

- **b. Investment Company Act file number:** 811-22700

- **c. CIK number of Registrant:** 0001547950

- **d. LEI of Registrant:** 549300NACQI9T12KM079

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

  - **Street Address 1:** 10900 Hefner Pointe Drive

  - **City:** Oklahoma City

  - **State:** OK

  - **Foreign country:** US

  - **Zip / Postal Code:** 73120

  - **Telephone number:** 405-778-8377

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

- **a. Name of Series:** Saba Closed-End Funds ETF

- **b. EDGAR series identifier (if any):** S000056657

- **c. LEI of Series:** 549300GSI1BSONVINL03

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

- **a. Date of fiscal year-end:** 2026-11-30

- **b. Date as of which information is reported:** 2026-02-28

**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:** $429496412.19

**Total Liabilities:** $43696041.73

**Net Assets:** $385800370.46

**Cash Not Reported:** $8245429.23

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000179256 | 1.26%                | 2.65%                | 1.51%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3134178.40              | $-2133000.55                               |
| Month 2  | $-2811842.00             | $10761925.03                               |
| Month 3  | $764269.23               | $3942532.94                                |

**Designated Index Information**

- **Index Name:** SABA CLOSED-END FUNDS ETF  - ExDerivatives

- **Index Identifier:** SABA CLOSED-END FUNDS ETF  - ExDerivatives

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Bluerock Pvt Real Estate Fund                                  | BLUEROCK PRIVATE RE     | CUSIP: 09631P102<br>LEI: 549300DVMSW84SP6UG83 | Long             | EC               | RF                | US        |    347660 | NS      | $6077096.80   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Bny Mellon Strategic Muni Bd Fd Inc                            | BNYM-STR MUNI           | CUSIP: 09662E109<br>LEI: 54930044KK4C1VDJ7M52 | Long             | EC               | RF                | US        |    363436 | NS      | $2246034.48   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Tri-Continental Corp                                           | TRI-CONTL CORP          | CUSIP: 895436103<br>LEI: 6QVMFZKY1QSOOIHD7Y77 | Long             | EC               | RF                | US        |    248792 | NS      | $8232527.28   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| John Hancock Diversified Income Fund                           | JOHN HNCK DIV IN        | CUSIP: 47804L102<br>LEI: TXPTLN9B34V0S0MTR071 | Long             | EC               | RF                | US        |     77473 | NS      | $890164.77    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                         | US 5YR NOTE (CBT) Jun26 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DIR              | CORP              | US        |       -61 | NC      | $-19539.10    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Clough Global Equity Fund                                      | CLOUGH-GLBL EQTY        | CUSIP: 18914C100<br>LEI: 549300SI1THLT6A9J147 | Long             | EC               | RF                | US        |     89698 | NS      | $740905.48    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Science and Technology Term Trust                    | BLKR-SCI & TECH         | CUSIP: 09260K101<br>LEI: 549300NQ3IL1NKVC9M67 | Long             | EC               | RF                | US        |   1553322 | NS      | $35353608.72  | 9.16%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock ESG Capital Allocation Term Trust                    | BLKR-ESG CAP ALL        | CUSIP: 09262F100<br>LEI: 549300EWOI5G0PSVIX17 | Long             | EC               | RF                | US        |   1862301 | NS      | $28195237.14  | 7.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Destra Multi Alternative Fund                                  | DESTRA MULTI-ALT        | CUSIP: 25065A502<br>LEI: 549300SP0KUS5HR5P569 | Long             | EC               | RF                | US        |    267238 | NS      | $2276867.76   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Asia Pacific High Dividend Equity Income Fund             | VOYA-A/P HI DVD         | CUSIP: 92912J102<br>LEI: 549300GNK7F1VWTNPE94 | Long             | EC               | RF                | US        |    293153 | NS      | $2380402.36   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Mexico Equity&Inc                                              | MEXICO EQ & INC         | CUSIP: 592834105<br>LEI: 549300Q0OD8MQEFTBY23 | Long             | EC               | RF                | US        |      1943 | NS      | $27474.02     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Korea Fund Inc                                                 | KOREA FUND INC          | CUSIP: 500634209<br>LEI: 549300M4Y1IG0WPTKC03 | Long             | EC               | RF                | US        |     62567 | NS      | $3577581.06   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Enhanced Global Dividend Trust                       | BLKR-EN GL DVD          | CUSIP: 092501105<br>LEI: U48QD6ILUF60LKMSND68 | Long             | EC               | RF                | US        |    447071 | NS      | $5387205.55   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Neuberger Energy Infrastructure and Income Fund Inc.           | NEUBERGER ENERGY        | CUSIP: 64129H104<br>LEI: 549300P5ICT7WWGP8224 | Long             | EC               | RF                | US        |    974877 | NS      | $9963242.94   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Bancroft Fund Ltd.                                             | BANCROFT FUND           | CUSIP: 059695106<br>LEI: 5493000X4Y1FB4G26P45 | Long             | EC               | RF                | US        |     30015 | NS      | $683741.70    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                                    | E-Mini Russ 2000  Mar26 | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Short            | DE               | CORP              | US        |       -45 | NC      | $-202500.00   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Mexico Fund Inc                                                | MEXICO FUND             | CUSIP: 592835102<br>LEI: N/A                  | Long             | EC               | RF                | US        |    226409 | NS      | $5164389.29   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Fund Inc                                                | TAIWAN FUND INC         | CUSIP: 874036106<br>LEI: 549300B0OHIYIAWV0Z83 | Long             | EC               | RF                | US        |     22534 | NS      | $1486793.32   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Total Return Securities Fund                                   | TOTAL RETURN SEC        | CUSIP: 870875101<br>LEI: 549300HQZ0XPGTS5Q724 | Long             | EC               | RF                | US        |     31579 | NS      | $196105.59    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| MFS MUN INCOME TR                                              | MFS-MUNI INC            | CUSIP: 552738106<br>LEI: GV4WN51HRTKYT6CV5890 | Long             | EC               | RF                | US        |     48919 | NS      | $273457.21    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtus Convertible & Income Fund II                            | VIRTUS CONVERTIB        | CUSIP: 92838U801<br>LEI: 549300VQWKOKLGOGUQ16 | Long             | EC               | RF                | US        |    196734 | NS      | $2895924.48   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Clough Global Dividend And Income Fund                         | CLOUGH-GL DV&IN         | CUSIP: 18913Y103<br>LEI: 5493001GFY6TW0CYCT15 | Long             | EC               | RF                | US        |     59128 | NS      | $374280.24    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO Dynamic Income Strategy Fund                             | PIMCO-DYN INC ST        | CUSIP: 69346N107<br>LEI: 549300BX5QVFQJENPV35 | Long             | EC               | RF                | US        |    577594 | NS      | $11667398.80  | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| abrdn Life Sciences Investors                                  | ABRDN-LIFE SCI          | CUSIP: 87911K100<br>LEI: 5493007BYZPSOVVS0M04 | Long             | EC               | RF                | US        |    180925 | NS      | $3012401.25   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLIANCEBERNSTEIN NATL MUN INCOME FD INC                       | ALLIANCE-NTL MUN        | CUSIP: 01864U106<br>LEI: MNYPOOOZYY8V01GEIT28 | Long             | EC               | RF                | US        |     92277 | NS      | $1026120.24   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Clough Global Opportunities Fund                               | CLOUGH-GL OPP           | CUSIP: 18914E106<br>LEI: 549300DTG68UBCNCPY15 | Long             | EC               | RF                | US        |    196200 | NS      | $1185048.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO CALIFORNIA MUNICIPAL INCOME FUND                         | PIMCO CA MU INC         | CUSIP: 72200N106<br>LEI: M4DHYCROG6SFNO22X437 | Long             | EC               | RF                | US        |     92169 | NS      | $840581.28    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| General American Investors Company, Inc.                       | GEN AMER INVEST         | CUSIP: 368802104<br>LEI: 254900MHIF9G7IS1T951 | Long             | EC               | RF                | US        |    207515 | NS      | $12822351.85  | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| MFS HIGH INCOME MUN TR                                         | MFS-HI INC MUNI         | CUSIP: 59318D104<br>LEI: 0G9TCUWY2FBUXSJY2691 | Long             | EC               | RF                | US        |    128899 | NS      | $494972.16    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Adams Natural Resources Fund Inc                               | ADAMS NATURAL RE        | CUSIP: 00548F105<br>LEI: 549300LPTQAH0G3NGD42 | Long             | EC               | RF                | US        |     34706 | NS      | $908603.08    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| BNY Mellon Strategic Municipals Inc                            | BNYM-STR MUNI           | CUSIP: 05588W108<br>LEI: 549300FH0LKMOBY7N332 | Long             | EC               | RF                | US        |    808086 | NS      | $5260639.86   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| BNY MELLON MUN BD INFRASTRUCTURE FD INC                        | BNYM-MUN BD INFR        | CUSIP: 09662W109<br>LEI: 5493003OUY2BKGFZ2414 | Long             | EC               | RF                | US        |    402526 | NS      | $4472063.86   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley China A Share Fund Inc.                         | MORGAN STANLEY C        | CUSIP: 617468103<br>LEI: 54930045HQ1UNO6FR635 | Long             | EC               | RF                | US        |     41762 | NS      | $762156.50    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Saba Capital Income & Opportunities Fund II                    | SABA CAPITAL INC        | CUSIP: 880198205<br>LEI: QU1AAXOSV5K4OVMXJP19 | Long             | EC               | RF                | US        |    302398 | NS      | $2431279.92   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Gabelli Healthcare & Wellness Trust                            | GABELLI-HLTH&WEL        | CUSIP: 36246K103<br>LEI: 549300XULWZNLHFTG832 | Long             | EC               | RF                | US        |    260802 | NS      | $2600195.94   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| High Income Securities Fund                                    | HIGH INCOME SECU        | CUSIP: 42968F108<br>LEI: 25RM533JWPQG19PQ1G87 | Long             | EC               | RF                | US        |    178077 | NS      | $1066681.23   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Emerging Markets High Dividend Equity Fund                | VOYA-EM HI DV EQ        | CUSIP: 92912P108<br>LEI: 549300MBU0OQHUKI2Y86 | Long             | EC               | RF                | US        |    154629 | NS      | $1096319.61   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Dow 30 Dynamic Overwrite Fd                             | NVN-D30 DYM O/W         | CUSIP: 67075F105<br>LEI: 549300CNS4Q1ZZUGS005 | Long             | EC               | RF                | US        |    325377 | NS      | $4978268.10   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Bexil Investment Trust                                         | BEXIL INVESTMENT        | CUSIP: 25538A204<br>LEI: 549300GQF37VFS5FKW75 | Long             | EC               | RF                | US        |     27325 | NS      | $442938.25    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Neuberger Next Generation Connectivity Fund Inc.               | NEUBERGER NEXT G        | CUSIP: 64133Q108<br>LEI: 549300GRTFKXVB9LQE61 | Long             | EC               | RF                | US        |    741785 | NS      | $9999261.80   | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| VanEck ETF Trust                                               | VANECK GOLD MINE        | CUSIP: 92189F106<br>LEI: 549300ZLFKNTXC51ZN76 | Short            | EC               | RF                | US        |   -319557 | NS      | $-37017482.88 | -9.59%            |  |  |  | No            |                  1 | On Loan: No      |
| Virtus Artificial Intelligence & Technology Opportunities Fund | VRTS-ARTIF & INT        | CUSIP: 92838Y100<br>LEI: 549300ZE8QERJKXOVW89 | Long             | EC               | RF                | US        |    152049 | NS      | $3500167.98   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stan India                                              | MS-INDIA INVEST         | CUSIP: 61745C105<br>LEI: 5LQ8NRKQLK2XRS19BS65 | Long             | EC               | RF                | US        |     59062 | NS      | $1408628.70   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtus Equity & Convertible Income Fund                        | VIRTUS ALLIANZGI        | CUSIP: 92841M101<br>LEI: 549300E7CGC36IOELF91 | Long             | EC               | RF                | US        |    240544 | NS      | $6109817.60   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Smaller Capi                                             | NOMURA-JPN S/C          | CUSIP: 47109U104<br>LEI: 5493000KJSHWEB3YKZ37 | Long             | EC               | RF                | US        |    473402 | NS      | $5855982.74   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ASA Gold and Precious Metals Ltd.                              | ASA GOLD AND PRE        | CUSIP: G3156P103<br>LEI: 254900VOUR4617HGCL14 | Long             | EC               | RF                | BM        |    575128 | NS      | $46752155.12  | 12.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Virtus Dividend, Interest & Premium Strategy Fund              | VRTS-DVD INT PRM        | CUSIP: 92840R101<br>LEI: 549300535GECAFITZP67 | Long             | EC               | RF                | US        |   1861226 | NS      | $25219612.30  | 6.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Oxford Lane Capital Corp                                       | OXFORD LANE CAPI        | CUSIP: 691543847<br>LEI: 549300G3KO4JNQQD7Z72 | Long             | EC               | RF                | US        |   1141782 | NS      | $9579550.98   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| RiverNorth Flexible Municipal Income Fund Ii Inc               | RVRNRT-FLX MUNI2        | CUSIP: 76883Y107<br>LEI: 549300U301TLYWQNC025 | Long             | EC               | RF                | US        |    155933 | NS      | $2055196.94   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Gabelli Divid & Income Tr                                      | GABELLI DVD&INC         | CUSIP: 36242H104<br>LEI: 549300082N1MHBT8NI60 | Long             | EC               | RF                | US        |    534152 | NS      | $15420968.24  | 4.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NYLI CBRE Global Infrastructure Megatrends Term Fund           | NYLI CBRE GBL IM        | CUSIP: 56064Q107<br>LEI: N/A                  | Long             | EC               | RF                | US        |    471240 | NS      | $7459729.20   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| NUVEEN PA INVT QUALITY MUN FD                                  | NVN-PA QUAL MUNI        | CUSIP: 670972108<br>LEI: 5493000C1CS4Q000GF67 | Long             | EC               | RF                | US        |    146469 | NS      | $1762022.07   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Highland Opportunities & Income Fund                           | HIGHL-OPP & INC         | CUSIP: 43010E404<br>LEI: 254900CMUE9FRYL2UR80 | Long             | EC               | RF                | US        |    717411 | NS      | $4462296.42   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Templeton Dragon Fund Inc.                                     | TEMP-DRAGON             | CUSIP: 88018T101<br>LEI: 549300L5KGV2K28LYW59 | Long             | EC               | RF                | US        |     70425 | NS      | $812704.50    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| VanEck ETF Trust                                               | V/E JR GLD MINER        | CUSIP: 92189F791<br>LEI: 549300ZLFKNTXC51ZN76 | Short            | EC               | RF                | US        |    -38792 | NS      | $-6058922.48  | -1.57%            |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                                    | S&P500 EMINI FUT  Mar26 | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Short            | DE               | CORP              | US        |       -50 | NC      | $4000.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Royce Micro-Cap Trust, Inc.                                    | ROYCE MICRO-CAP         | CUSIP: 780915104<br>LEI: 254900D3WFIV4SD8EF19 | Long             | EC               | RF                | US        |    535861 | NS      | $6542862.81   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtus Total Return Fund Incorporation                         | VRTS-TTL RTRN           | CUSIP: 92835W107<br>LEI: 549300KKRHI4GF7RNQ81 | Long             | EC               | RF                | US        |    387535 | NS      | $2735997.10   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO NEW YORK MUNICIPAL INCOME FUND II                        | PIMCO-NY MUN II         | CUSIP: 72200Y102<br>LEI: VSODSLIYXJ7C18SCFD63 | Long             | EC               | RF                | US        |     55468 | NS      | $397705.56    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtus Convertible & Income Fund                               | VIRTUS CONVERTIB        | CUSIP: 92838X805<br>LEI: 549300WT3ICVH2Z06O49 | Long             | EC               | RF                | US        |    206024 | NS      | $3360251.44   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                         | US 10YR NOTE (CBT)Jun26 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DIR              | CORP              | US        |      -220 | NC      | $-128867.05   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Western Asset Inflation-Linked Opportunities & Income Fund     | WESTERN A IL OPP        | CUSIP: 95766R104<br>LEI: 549300Z3DNF4FJBJ4A87 | Long             | EC               | RF                | US        |    140585 | NS      | $1224495.35   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| BBH SWEEP VEHICLE                                              | BBH SWEEP VEHICLE       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |  40694493 | PA      | $40694492.95  | 10.55%            |  |  |  | No            |                  1 | On Loan: No      |
| Ellsworth Growth and Income Fund Ltd                           | ELLSW-GRW & INC         | CUSIP: 289074106<br>LEI: 549300GYFOXHCDQTI772 | Long             | EC               | RF                | US        |    183535 | NS      | $2152865.55   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW Germany Fund                                               | NEW GERMANY             | CUSIP: 644465106<br>LEI: 549300TPS2RTTJ8O3C08 | Long             | EC               | RF                | US        |    426329 | NS      | $5124474.58   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-27

**Name of Applicant:** Exchange Listed Funds Trust

**Signature:** Chris Roleke

**Name of Signer:** Chris Roleke

**Title:** Treasurer