# EDGAR Filing Document

**Accession Number:** 0001587551
**File Stem:** 0001752724-23-032573
**Filing Date:** 2023-2
**Character Count:** 28043
**Document Hash:** 9fe006bfa92ca6eb27613bfadf9b712b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-032573.hdr.sgml**: 20230222

**ACCESSION NUMBER**: 0001752724-23-032573

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230222

**DATE AS OF CHANGE**: 20230222

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Capitol Series Trust
- **CENTRAL INDEX KEY:** 0001587551
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22895
- **FILM NUMBER:** 23650767

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 5135873447

**MAIL ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### Guardian Capital Dividend Growth Fund (Series ID: S000065242)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000211210 | Institutional Shares | DIVGX           |

## Nport-Ex

Guardian

Capital

Dividend

Growth

Fund

Schedule

of

Investments

December

31,

2022

-

(Unaudited)

Common

Stocks

—

96.92%

Shares

Fair

Value

Australia

—

0.80%

Energy

—

0.80%

Woodside

Energy

Group

Ltd.

-

ADR

6,450

$

156,155

Total

Australia

156,155

Canada

—

6.58%

Communications

—

3.19%

BCE,

Inc.

7,827

343,903

TELUS

Corp.

14,292

275,823

619,726

Financials

—

3.39%

Royal

Bank

of

Canada

7,022

660,217

Total

Canada

1,279,943

Denmark

—

2.44%

Health

Care

—

2.44%

Novo

Nordisk

A/S

-

ADR

3,510

475,043

Total

Denmark

475,043

France

—

8.83%

Energy

—

3.97%

TotalEnergies

S.E.

-

ADR

12,452

773,019

Financials

—

1.96%

AXA

S.A.

13,700

382,218

Health

Care

—

0.95%

Sanofi

-

ADR

3,830

185,487

Industrials

—

1.95%

Schneider

Electric

S.E.

-

ADR

13,574

379,529

Total

France

1,720,253

Germany

—

1.99%

Financials

—

1.99%

Allianz

S.E.

1,800

387,215

Total

Germany

387,215

Ireland

—

3.01%

Technology

—

3.01%

Accenture

PLC,

Class

A

2,194

585,447

Total

Ireland

585,447

Netherlands

—

2.35%

Technology

—

2.35%

Wolters

Kluwer

N.V.

-

ADR

4,375

458,281

Total

Netherlands

458,281

Guardian

Capital

Dividend

Growth

Fund

Schedule

of

Investments

(continued)

December

31,

2022

-

(Unaudited)

Shares

Fair

Value

Switzerland

—

3.99%

Consumer

Staples

—

3.99%

Nestle

S.A.

-

ADR

6,742

$

777,622

Total

Switzerland

777,622

United

Kingdom

—

4.33%

Consumer

Staples

—

1.24%

Unilever

PLC

-

ADR

4,784

240,874

Health

Care

—

3.09%

AstraZeneca

PLC

-

ADR

8,878

601,928

Total

United

Kingdom

842,802

United

States

—

62.60%

Communications

—

1.73%

Verizon

Communications,

Inc.

8,558

337,185

Consumer

Discretionary

—

4.78%

Home

Depot,

Inc.

(The)

1,502

474,422

McDonald's

Corp.

1,727

455,116

929,538

Consumer

Staples

—

5.49%

Costco

Wholesale

Corp.

1,581

721,727

Procter

&

Gamble

Co.

(The)

2,292

347,376

1,069,103

Energy

—

8.15%

EOG

Resources,

Inc.

1,734

224,588

Shell

PLC

-

ADR

10,651

606,574

Williams

Companies,

Inc.

(The)

22,943

754,825

1,585,987

Health

Care

—

9.81%

AbbVie,

Inc.

2,491

402,571

Amgen,

Inc.

773

203,021

Johnson

&

Johnson

4,031

712,076

UnitedHealth

Group,

Inc.

1,114

590,621

1,908,289

Industrials

—

6.07%

Illinois

Tool

Works,

Inc.

778

171,393

Republic

Services,

Inc.

4,113

530,536

Waste

Management,

Inc.

3,061

480,210

1,182,139

Materials

—

2.51%

Air

Products

&

Chemicals,

Inc.

1,586

488,900

Real

Estate

—

5.57%

Crown

Castle,

Inc.

1,425

193,287

Digital

Realty

Trust,

Inc.

2,003

200,841

Medical

Properties

Trust,

Inc.

44,363

494,203

WP

Carey,

Inc.

2,511

196,235

1,084,566

Guardian

Capital

Dividend

Growth

Fund

Schedule

of

Investments

(continued)

December

31,

2022

-

(Unaudited)

Shares

Fair

Value

United

States

—

62.60%

(continued)

Technology

—

16.97%

Apple,

Inc.

7,575

$

984,220

Broadcom,

Inc.

1,698

949,403

MasterCard,

Inc.,

Class

A

1,326

461,090

Microsoft

Corp.

3,779

906,280

3,300,993

Utilities

—

1.52%

WEC

Energy

Group,

Inc.

3,166

296,844

Total

United

States

12,183,544

Total Common

Stocks

&nbsp;&nbsp;&nbsp;&nbsp;(Cost $15,370,961)

18,866,305

Money

Market

Funds

-

2.89%

Morgan

Stanley

Institutional

Liquidity

Funds

Treasury

Securities

Portfolio,

Institutional

Class,

3.93%

(a) 563,293

563,293

Total

Money

Market

Funds

&nbsp;&nbsp;&nbsp;&nbsp;(Cost

$563,293)

563,293

Total

Investments

—

99.81%

&nbsp;&nbsp;&nbsp;&nbsp;(Cost

$15,934,254)

19,429,598

Other

Assets

in

Excess

of

Liabilities

—

0.19%

36,412

Net

Assets

—

100.00%

$

19,466,010

(a) Rate

disclosed

is

the

seven

day

effective

yield

as

of

December

31,

2022. ADR

-

American

Depositary

Receipt

Guardian

Capital

Fundamental

Global

Equity

Fund

Schedule

of

Investments

December

31,

2022

-

(Unaudited)

Common

Stocks

—

98.72%

Shares

Fair

Value

China

—

4.85%

Consumer

Discretionary

—

4.85%

Yum

China

Holdings,

Inc.

64,170

$

3,506,890

Total

China

3,506,890

Denmark

—

13.97%

Health

Care

—

9.46%

Coloplast

A/S,

Class

B

6,562

767,132

Novo

Nordisk

A/S,

Class

B

44,928

6,067,330

6,834,462

Materials

—

4.51%

Chr.

Hansen

Holdings

A/S

28,848

2,075,405

Novozymes

A/S,

Class

B

23,416

1,186,341

3,261,746

Total

Denmark

10,096,208

France

—

10.46%

Consumer

Staples

—

3.02%

L'Oréal

S.A.

6,109

2,182,206

Health

Care

—

7.44%

EssilorLuxottica

S.A.

29,616

5,365,701

Total

France

7,547,907

Ireland

—

3.76%

Technology

—

3.76%

Accenture

PLC,

Class

A

10,189

2,718,833

Total

Ireland

2,718,833

Japan

—

4.27%

Industrials

—

4.27%

FANUC

Corp.

10,800

1,632,000

Keyence

Corp.

3,700

1,449,433

3,081,433

Total

Japan

3,081,433

Switzerland

—

3.96%

Consumer

Staples

—

3.96%

Nestle

S.A.

24,707

2,863,007

Total

Switzerland

2,863,007

United

Kingdom

—

4.97%

Consumer

Staples

—

2.69%

Reckitt

Benckiser

Group

PLC

27,945

1,943,806

Industrials

—

2.28%

Intertek

Group

PLC

(a) 33,824

1,649,453

Total

United

Kingdom

3,593,259

Guardian

Capital

Fundamental

Global

Equity

Fund

Schedule

of

Investments

(continued)

December

31,

2022

-

(Unaudited)

Shares

Fair

Value

United

States

—

52.48%

Communications

—

10.34%

Alphabet,

Inc.,

Class

A

(a) 37,008

$

3,265,216

Booking

Holdings,

Inc.

(a) 2,087

4,205,889

7,471,105

Consumer

Discretionary

—

4.31%

Nike,

Inc.,

Class

B

26,599

3,112,349

Consumer

Staples

—

4.62%

Colgate-Palmolive

Co.

42,346

3,336,442

Financials

—

6.54%

CME

Group,

Inc.

28,096

4,724,623

Health

Care

—

7.77%

Illumina,

Inc.

(a) 9,150

1,850,130

UnitedHealth

Group,

Inc.

7,095

3,761,627

5,611,757

Technology

—

18.90%

Automatic

Data

Processing,

Inc.

12,154

2,903,104

MarketAxess

Holdings,

Inc.

12,956

3,613,299

MasterCard,

Inc.,

Class

A

11,264

3,916,831

Microsoft

Corp.

8,411

2,017,126

Verisk

Analytics,

Inc.

6,819

1,203,008

13,653,368

Total

United

States

37,909,644

Total Common

Stocks

&nbsp;&nbsp;&nbsp;&nbsp;(Cost $69,456,175)

71,317,181

Money

Market

Funds

-

1.06%

Morgan

Stanley

Institutional

Liquidity

Funds

Treasury

Portfolio,

Institutional

Class,

4.09%

(b) 768,328

768,328

Total

Money

Market

Funds

&nbsp;&nbsp;&nbsp;&nbsp;(Cost

$768,328)

768,328

Total

Investments

—

99.78%

&nbsp;&nbsp;&nbsp;&nbsp;(Cost

$70,224,503)

72,085,509

Other

Assets

in

Excess

of

Liabilities

—

0.22%

158,380

Net

Assets

—

100.00%

$

72,243,889

(a) Non-income

producing

security.

(b) Rate

disclosed

is

the

seven

day

effective

yield

as

of

December

31,

2022. Alta

Quality

Growth

Fund

Schedule

of

Investments

December

31,

2022

-

(Unaudited)

Common

Stocks

—

98.86%

Shares

Fair

Value

Ireland

—

6.64%

Health

Care

—

2.98%

ICON

PLC

(a) 6,320

$

1,227,660

Technology

—

3.66%

Accenture

PLC,

Class

A

5,650

1,507,646

Total

Ireland

2,735,306

United

States

—

92.22%

Communications

—

19.15%

Alphabet,

Inc.,

Class

A

(a) 29,900

2,638,077

Booking

Holdings,

Inc.

(a) 805

1,622,300

Match

Group,

Inc.

(a) 20,500

850,545

Take-Two

Interactive

Software,

Inc.

(a) 12,700

1,322,451

Walt

Disney

Co.

(The)

(a) 16,800

1,459,584

7,892,957

Consumer

Discretionary

—

13.56%

Fortune

Brands

Home

&

Security,

Inc.

10,800

616,788

Home

Depot,

Inc.

(The)

6,200

1,958,332

Restaurant

Brands

International,

Inc.

21,430

1,385,878

TJX

Companies,

Inc.

(The)

20,500

1,631,800

5,592,798

Financials

—

3.99%

Markel

Corp.

(a) 1,250

1,646,863

Health

Care

—

7.02%

Thermo

Fisher

Scientific,

Inc.

2,825

1,555,699

Zoetis,

Inc.,

Class

A

9,150

1,340,933

2,896,632

Industrials

—

5.94%

Amphenol

Corp.,

Class

A

18,000

1,370,520

Raytheon

Technologies

Corp.

10,700

1,079,844

2,450,364

Materials

—

2.30%

Sherwin-Williams

Co.

(The)

4,000

949,320

Technology

—

40.26%

Adobe

Systems,

Inc.

(a) 5,042

1,696,784

Apple,

Inc.

16,400

2,130,852

Autodesk,

Inc.

(a) 6,600

1,233,342

Broadridge

Financial

Solutions,

Inc.

7,075

948,970

Fiserv,

Inc.

(a) 15,000

1,516,050

Intuit,

Inc.

1,600

622,752

MasterCard,

Inc.,

Class

A

4,100

1,425,693

Microsoft

Corp.

10,060

2,412,589

PayPal

Holdings,

Inc.

(a) 11,800

840,396

S&P

Global,

Inc.

3,300

1,105,302

Visa,

Inc.,

Class

A

6,900

1,433,544

Alta

Quality

Growth

Fund

Schedule

of

Investments

(continued)

December

31,

2022

-

(Unaudited)

Shares

Fair

Value

United

States

—

92.22%

(continued)

Technology

—

40.26%

(continued)

Zebra

Technologies

Corp.,

Class

A

(a) 4,800

$

1,230,768

16,597,042

Total

United

States

38,025,976

Total

Common

Stocks/Investments

—

98.86%

&nbsp;&nbsp;&nbsp;&nbsp;(Cost

$36,285,948)

40,761,282

Other

Assets

in

Excess

of

Liabilities

—

1.14%

469,692

Net

Assets

—

100.00%

$

41,230,974

(a) Non-income

producing

security.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-22895

- **c. CIK number of Registrant:** 0001587551

- **d. LEI of Registrant:** 549300MZI5K7U8BD2Q02

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

  - **Street Address 1:** 225 Pictoria Drive

  - **City:** Cincinnati

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 513-587-3400

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

- **a. Name of Series:** GUARDIAN CAPITAL DIVIDEND GROWTH FUND

- **b. EDGAR series identifier (if any):** S000065242

- **c. LEI of Series:** 549300ENZF5BCTW5VO98

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

- **a. Date of fiscal year-end:** 2023-09-30

- **b. Date as of which information is reported:** 2022-12-31

**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:** $19505415.13

**Total Liabilities:** $39405.57

**Net Assets:** $19466009.56

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000211210 | 7.30%                | 7.71%                | -4.05%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-45949.39               | $1317287.85                                |
| Month 2  | $0.00                    | $1443142.90                                |
| Month 3  | $-36860.47               | $-850164.52                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Costco Wholesale Corporation                 | Costco Wholesale Corp.                                                       | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      1581 | NS      | $721726.50    | 3.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever PLC                                 | Unilever PLC                                                                 | CUSIP: 904767704<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |      4784 | NS      | $240874.40    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| BCE Inc.                                     | BCE, Inc.                                                                    | CUSIP: 05534B760<br>LEI: 5493001I9203PRB5KR45 | Long             | EC               | CORP              | CA        |      7827 | NS      | $343903.56    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolters Kluwer NV                            | Wolters Kluwer NV                                                            | CUSIP: 977874205<br>LEI: 724500TEM53I0U077B74 | Long             | EC               | CORP              | NL        |      4375 | NS      | $458281.25    | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc                     | Digital Realty Trust, Inc.                                                   | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |      2003 | NS      | $200840.81    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                                 | Broadcom, Inc.                                                               | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      1698 | NS      | $949402.74    | 4.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products & Chemicals, Inc.               | Air Products & Chemicals, Inc.                                               | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |      1586 | NS      | $488900.36    | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Management, Inc.                       | Waste Management, Inc.                                                       | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |      3061 | NS      | $480209.68    | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                            | Johnson & Johnson                                                            | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      4031 | NS      | $712076.15    | 3.66%             |  |  |  | No            |                  1 | On Loan: No      |
| MasterCard Incorporated                      | MasterCard, Inc.                                                             | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      1326 | NS      | $461089.98    | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Allianz SE                                   | Allianz SE                                                                   | CUSIP: D03080112<br>LEI: 529900K9B0N5BT694847 | Long             | EC               | CORP              | DE        |      1800 | NS      | $387214.91    | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S                             | Novo Nordisk A/S                                                             | CUSIP: 670100205<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |      3510 | NS      | $475043.40    | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc.                                  | AbbVie, Inc.                                                                 | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      2491 | NS      | $402570.51    | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Medical Properties Trust Inc.                | Medical Properties Trust, Inc.                                               | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Long             | EC               | CORP              | US        |     44363 | NS      | $494203.82    | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                              | AstraZeneca PLC                                                              | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |      8878 | NS      | $601928.40    | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Telus Corporation                            | Telus Corp.                                                                  | CUSIP: 87971M103<br>LEI: L2TEUTQ8OSHMJWVLCE40 | Long             | EC               | CORP              | CA        |     14292 | NS      | $275822.56    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Illinois Tool Works Inc.                     | Illinois Tool Works, Inc.                                                    | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |       778 | NS      | $171393.40    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| The Procter & Gamble Company                 | Procter & Gamble Co./The                                                     | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      2292 | NS      | $347375.52    | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc                               | Home Depot, Inc./The                                                         | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      1502 | NS      | $474421.72    | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider Electric SE                        | Schneider Electric SE                                                        | CUSIP: 80687P106<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |     13574 | NS      | $379529.04    | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                   | Apple, Inc.                                                                  | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      7575 | NS      | $984219.75    | 5.06%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                             | TotalEnergies SE                                                             | CUSIP: 89151E109<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     12452 | NS      | $773020.16    | 3.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services, Inc.                      | Republic Services, Inc.                                                      | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |      4113 | NS      | $530535.87    | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Institutional Liquidity Funds | Morgan Stanley Institutional Liquidity Fund  - Treasury Securities Portfolio | CUSIP: 61747C525<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | STIV             | RF                | US        |    563293 | PA      | $563292.89    | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corporation                       | McDonald's Corp.                                                             | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      1727 | NS      | $455116.31    | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi                                       | Sanofi                                                                       | CUSIP: 80105N105<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |      3830 | NS      | $185486.90    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| W. P. Carey Inc                              | WP Carey, Inc.                                                               | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |      2511 | NS      | $196234.65    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc.                  | Verizon Communications, Inc.                                                 | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |      8558 | NS      | $337185.20    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                    | Shell PLC                                                                    | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | US        |     10651 | NS      | $606574.45    | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources, Inc.                          | EOG Resources, Inc.                                                          | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      1734 | NS      | $224587.68    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corporation                        | Microsoft Corp.                                                              | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      3779 | NS      | $906279.78    | 4.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc.                            | Crown Castle International Corp.                                             | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |      1425 | NS      | $193287.00    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle SA                                    | Nestle SA                                                                    | CUSIP: 641069406<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |      6742 | NS      | $777622.28    | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Bank of Canada                         | Royal Bank of Canada                                                         | CUSIP: 780087102<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EC               | CORP              | CA        |      7022 | NS      | $660216.85    | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| The Williams Companies, Inc.                 | Williams Cos, Inc./The                                                       | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     22943 | NS      | $754824.70    | 3.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                                | Accenture PLC                                                                | CUSIP: G1151C101<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |      2194 | NS      | $585446.96    | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodside Energy Group Ltd                    | Woodside Energy Group Ltd.                                                   | CUSIP: 980228308<br>LEI: 2549005ZC5RXAOO7FH41 | Long             | EC               | CORP              | AU        |      6450 | NS      | $156154.50    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC Energy Group Inc.                        | WEC Energy Group, Inc.                                                       | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |      3166 | NS      | $296844.16    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                                   | Amgen, Inc.                                                                  | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |       773 | NS      | $203020.72    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Axa SA                                       | AXA SA                                                                       | CUSIP: F06106102<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |     13700 | NS      | $382218.12    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.                      | UnitedHealth Group, Inc.                                                     | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      1114 | NS      | $590620.52    | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-31

**Name of Applicant:** Capitol Series Trust

**Signature:** Gregory Knoth

**Name of Signer:** Gregory Knoth

**Title:** SVP, Mutual Fund Controller