# EDGAR Filing Document

**Accession Number:** 0001592900
**File Stem:** 0001592900-25-002475
**Filing Date:** 2025-8
**Character Count:** 24253
**Document Hash:** d1c907650ada45692db65c478a7d85ae
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001592900-25-002475.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001592900-25-002475

**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:** 251280034

**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

### Gadsden Dynamic Multi-Asset ETF (Series ID: S000069668)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000222207 | Gadsden Dynamic Multi-Asset ETF | GDMA            |

## Nport-Ex

---

| |
|:---|
| **GADSDEN DYNAMIC MULTI-ASSET ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **EXCHANGE TRADED FUNDS - 64.5%** | **Shares** | **Value** |
| abrdn Physical Platinum Shares ETF <sup>(a)(b)</sup> | 20784 | $2553730 |
| abrdn Physical Silver Shares ETF <sup>(a)</sup> | 70829 | 2437226 |
| Fidelity Wise Origin Bitcoin Fund <sup>(a)</sup> | 40980 | 3851710 |
| Franklin FTSE Brazil ETF  | 137426 | 2468171 |
| Franklin FTSE China ETF  | 84808 | 1840758 |
| Franklin FTSE India ETF  | 188318 | 7500706 |
| Franklin FTSE Japan ETF <sup>(b)</sup> | 230687 | 7416587 |
| Global X Dax Germany ETF  | 28787 | 1293400 |
| iShares Bitcoin Trust ETF <sup>(a)</sup> | 62930 | 3851945 |
| iShares MSCI China ETF <sup>(b)</sup> | 34227 | 1885908 |
| iShares MSCI Europe Financials ETF  | 96795 | 3061626 |
| iShares MSCI Global Gold Miners ETF <sup>(b)</sup> | 111364 | 4875516 |
| iShares MSCI Global Metals & Mining Producers ETF <sup>(b)</sup> | 98579 | 3706570 |
| iShares MSCI Philippines ETF <sup>(b)</sup> | 70230 | 1904638 |
| KraneShares CSI China Internet ETF  | 55138 | 1892888 |
| Schwab Emerging Markets Equity ETF  | 84966 | 2560875 |
| Schwab Fundamental Emerging Markets Equity ETF  | 153222 | 5057858 |
| Select STOXX Europe Aerospace & Defense ETF  | 30799 | 1328977 |
| SPDR Bloomberg Short Term International Treasury Bond ETF  | 404843 | 11363943 |
| SPDR EURO STOXX 50 ETF <sup>(b)</sup> | 21151 | 1263349 |
| SPDR S&P Aerospace & Defense ETF <sup>(b)</sup> | 10056 | 2121213 |
| Sprott Uranium Miners ETF  | 44258 | 2121286 |
| VanEck J. P. Morgan EM Local Currency Bond ETF  | 250746 | 6356411 |
| **TOTAL EXCHANGE TRADED FUNDS** (Cost $77,974,208) |  | 82715291 |
| **COMMON STOCKS - 34.6%** |  |  |
| **<u>Communication Services</u> - 9.5%** |  |  |
| **Interactive Media & Services - 9.5%** |  |  |
| Alphabet, Inc. - Class C  | 24645 | 4371776 |
| Meta Platforms, Inc. - Class A  | 8908 | 6574906 |
| Tencent Holdings Ltd. - ADR  | 19044 | 1228338 |
| **Total Communication Services** |  | 12175020 |
| **<u>Consumer Discretionary</u> - 5.7%** |  |  |
| **Broadline Retail - 5.7%** |  |  |
| Alibaba Group Holding Ltd. - ADR  | 20653 | 2342257 |
| Amazon.com, Inc. <sup>(a)</sup> | 23005 | 5047067 |
| **Total Consumer Discretionary** |  | 7389324 |
| **<u>Energy</u> - 2.3%** |  |  |
| **Coal & Consumable Fuels - 2.3%** |  |  |
| Cameco Corp.  | 39108 | 2902987 |

---

------

---

| |
|:---|
| **GADSDEN DYNAMIC MULTI-ASSET ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 34.6% (CONTINUED)** | **Shares** | **Value** |
| **<u>Information Technology</u> - 17.1%** | |  |
| **Semiconductor Materials & Equipment - 2.5%** |  |  |
| ASML Holding NV  | 4067 | $3259253 |
| **Semiconductors - 9.1%** |  |  |
| Advanced Micro Devices, Inc. <sup>(a)</sup> | 20192 | 2865245 |
| Nvidia Corp.  | 34768 | 5492996 |
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR  | 14517 | 3287955 |
|  |  | 11646196 |
| **Systems Software - 5.5%** |  |  |
| Microsoft Corp.  | 7937 | 3947943 |
| Oracle Corp.  | 14126 | 3088368 |
|  |  | 7036311 |
| **Total Information Technology** |  | 21941760 |
| **TOTAL COMMON STOCKS** (Cost $39,176,049) |  | 44409091 |
| **SHORT-TERM INVESTMENTS - 12.7%** |  |  |
| **Investments Purchased with Proceeds from Securities Lending - 11.9%** | **Investments Purchased with Proceeds from Securities Lending - 11.9%** |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(c)</sup> | 15214518 | 15214518 |
| **Money Market Funds - 0.8%** |  |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(c)</sup> | 1082502 | 1082502 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $16,297,020) |  | 16297020 |
| **TOTAL INVESTMENTS - 111.8% (**Cost $133,447,277**)** |  | $143421402 |
| Liabilities in Excess of Other Assets - (11.8)%  |  | (15191462) |
| **TOTAL NET ASSETS - 100.0%** |  | $128229940 |

---

Percentages are stated as a percent of net assets.

ADR - American Depositary Receipt

(a) Non-income producing security.

(b) All or a portion of this security is on loan as of June 30, 2025. The fair value of these securities was $14,928,223.

(c) 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. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

------

**GADSDEN DYNAMIC MULTI-ASSET ETF**

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

Gadsden Dynamic Multi-Asset ETF (the "Fund") has adopted authoritative fair value accounting standards which establish an authoritative 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 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 would be 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>Assets</u>** | | | | |
| Exchange Traded Funds | $82715291 | $— | $— | $82715291 |
| Common Stocks | 44409091 |  |  | 44409091 |
| Investments Purchased with proceeds from Securities Lending | 15214518 |  |  | 15214518 |
| Money Market Funds | 1082502 |  |  | 1082502 |
| **Total Investments** | $143421402 | $— | $— | $143421402 |

---

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:** Gadsden Dynamic Multi-Asset ETF

- **b. EDGAR series identifier (if any):** S000069668

- **c. LEI of Series:** 549300073VNCYFOG1J04

**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:** $143158062.89

**Total Liabilities:** $15276894.45

**Net Assets:** $127881168.44

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000222207 | -0.11%               | 3.12%                | 5.12%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3782616.68             | $3324492.43                                |
| Month 2  | $1042722.16              | $2507679.65                                |
| Month 3  | $1503166.97              | $4171241.36                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| iShares MSCI Europe Financials ETF                        | iShares MSCI Europe Financials ETF                        | CUSIP: 464289180<br>LEI: N/A                  | Long             | EC               | RF                | US        |     96533 | NS      | $3053338.79   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI China ETF                                    | iShares MSCI China ETF                                    | CUSIP: 46429B671<br>LEI: 549300Q0IWAYMYXW0R77 | Long             | EC               | RF                | US        |     34135 | NS      | $1880838.50   | 1.47%             |  |  |  | No            |                  1 | On Loan: —       |
| SPDR S&P Aerospace & Defense ETF                          | SPDR S&P Aerospace & Defense ETF                          | CUSIP: 78464A631<br>LEI: N/A                  | Long             | EC               | RF                | US        |     10029 | NS      | $2115517.26   | 1.65%             |  |  |  | No            |                  1 | On Loan: —       |
| iShares MSCI Global Gold Miners ETF                       | iShares MSCI Global Gold Miners ETF                       | CUSIP: 46434G855<br>LEI: N/A                  | Long             | EC               | RF                | US        |    111063 | NS      | $4862338.14   | 3.80%             |  |  |  | No            |                  1 | On Loan: —       |
| iShares MSCI Global Metals & Mining Producers ETF         | iShares MSCI Global Metals & Mining Producers ETF         | CUSIP: 46434G848<br>LEI: N/A                  | Long             | EC               | RF                | US        |     98312 | NS      | $3696531.20   | 2.89%             |  |  |  | No            |                  1 | On Loan: —       |
| KraneShares CSI China Internet ETF                        | KraneShares CSI China Internet ETF                        | CUSIP: 500767306<br>LEI: N/A                  | Long             | EC               | RF                | US        |     54989 | NS      | $1887772.37   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Fundamental Emerging Markets Equity ETF            | Schwab Fundamental Emerging Markets Equity ETF            | CUSIP: 808524730<br>LEI: N/A                  | Long             | EC               | RF                | US        |    152807 | NS      | $5044159.07   | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin FTSE Brazil ETF                                  | Franklin FTSE Brazil ETF                                  | CUSIP: 35473P835<br>LEI: N/A                  | Long             | EC               | RF                | US        |    137054 | NS      | $2461489.84   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin FTSE China ETF                                   | Franklin FTSE China ETF                                   | CUSIP: 35473P819<br>LEI: N/A                  | Long             | EC               | RF                | US        |     84579 | NS      | $1835787.20   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin FTSE Japan ETF                                   | Franklin FTSE Japan ETF                                   | CUSIP: 35473P744<br>LEI: N/A                  | Long             | EC               | RF                | US        |    230062 | NS      | $7396493.30   | 5.78%             |  |  |  | No            |                  1 | On Loan: —       |
| Franklin FTSE India ETF                                   | Franklin FTSE India ETF                                   | CUSIP: 35473P769<br>LEI: N/A                  | Long             | EC               | RF                | US        |    187808 | NS      | $7480392.64   | 5.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Global X Dax Germany ETF                                  | Global X Dax Germany ETF                                  | CUSIP: 37954Y491<br>LEI: N/A                  | Long             | EC               | RF                | US        |     28709 | NS      | $1289895.37   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprott Uranium Miners ETF                                 | Sprott Uranium Miners ETF                                 | CUSIP: 85208P303<br>LEI: N/A                  | Long             | EC               | RF                | US        |     44139 | NS      | $2115582.27   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Wise Origin Bitcoin Fund                         | Fidelity Wise Origin Bitcoin Fund                         | CUSIP: 315948109<br>LEI: N/A                  | Long             | EC               | RF                | US        |     40869 | NS      | $3841277.31   | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Bitcoin Trust ETF                                 | iShares Bitcoin Trust ETF                                 | CUSIP: 46438F101<br>LEI: N/A                  | Long             | EC               | RF                | US        |     62760 | NS      | $3841539.60   | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Select STOXX Europe Aerospace & Defense ETF               | Select STOXX Europe Aerospace & Defense ETF               | CUSIP: 84858T772<br>LEI: N/A                  | Long             | EC               | RF                | US        |     30716 | NS      | $1325395.40   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obligations Fund                | First American Government Obligations Fund                | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |  16287971 | PA      | $16287971.38  | 12.74%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Philippines ETF                              | iShares MSCI Philippines ETF                              | CUSIP: 46429B408<br>LEI: N/A                  | Long             | EC               | RF                | US        |     70040 | NS      | $1899484.80   | 1.49%             |  |  |  | No            |                  1 | On Loan: —       |
| Taiwan Semiconductor Manufacturing Co Ltd                 | Taiwan Semiconductor Manufacturing Co Ltd                 | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     14478 | NS      | $3279122.22   | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Emerging Markets Equity ETF                        | Schwab Emerging Markets Equity ETF                        | CUSIP: 808524706<br>LEI: 549300BX5O2DW26SGM55 | Long             | EC               | RF                | US        |     84736 | NS      | $2553943.04   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                                               | NVIDIA Corp                                               | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     34674 | NS      | $5478145.26   | 4.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc                                | Advanced Micro Devices Inc                                | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     20138 | NS      | $2857582.20   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                            | Microsoft Corp                                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      7916 | NS      | $3937497.56   | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                                               | Oracle Corp                                               | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |     14088 | NS      | $3080059.44   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                            | Amazon.com Inc                                            | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     22943 | NS      | $5033464.77   | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                                        | Meta Platforms Inc                                        | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      8884 | NS      | $6557191.56   | 5.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                                              | Alphabet Inc                                              | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     24579 | NS      | $4360068.81   | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp                                               | Cameco Corp                                               | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |     39003 | NS      | $2895192.69   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                                           | ASML Holding NV                                           | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |      4056 | NS      | $3250437.84   | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd                                      | Tencent Holdings Ltd                                      | CUSIP: 88032Q109<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |     18993 | NS      | $1225048.50   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd                                 | Alibaba Group Holding Ltd                                 | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |     20598 | NS      | $2336019.18   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| VanEck J. P. Morgan EM Local Currency Bond ETF            | VanEck J. P. Morgan EM Local Currency Bond ETF            | CUSIP: 92189H300<br>LEI: 549300CNWPR88MZBEA63 | Long             | EC               | RF                | US        |    250067 | NS      | $6339198.45   | 4.96%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Bloomberg Short Term International Treasury Bond ETF | SPDR Bloomberg Short Term International Treasury Bond ETF | CUSIP: 78464A334<br>LEI: N/A                  | Long             | EC               | RF                | US        |    403746 | NS      | $11333150.22  | 8.86%             |  |  |  | No            |                  1 | On Loan: No      |
| abrdn Physical Silver Shares ETF                          | abrdn Physical Silver Shares ETF                          | CUSIP: 003264108<br>LEI: 5493000YXSZBKTIMZK40 | Long             | EC               | RF                | US        |     70638 | NS      | $2430653.58   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR EURO STOXX 50 ETF                                    | SPDR EURO STOXX 50 ETF                                    | CUSIP: 78463X202<br>LEI: 549300FS6B2JRJXYB418 | Long             | EC               | RF                | US        |     21094 | NS      | $1259944.62   | 0.99%             |  |  |  | No            |                  1 | On Loan: —       |
| abrdn Physical Platinum Shares ETF                        | abrdn Physical Platinum Shares ETF                        | CUSIP: 003260106<br>LEI: 5493001S1GI0VA48N983 | Long             | EC               | RF                | US        |     20728 | NS      | $2546849.36   | 1.99%             |  |  |  | No            |                  1 | On Loan: —       |

### Signature

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

**Name of Applicant:** EA Series Trust

**Signature:** /s/ Sean Hegarty

**Name of Signer:** Sean Hegarty

**Title:** Treasurer