# EDGAR Filing Document

**Accession Number:** 0002013968
**File Stem:** 0001752724-25-211598
**Filing Date:** 2025-8
**Character Count:** 64138
**Document Hash:** f9b9856ff648cc10d4ef71f423a2f32b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-211598.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-211598

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** New Age Alpha Variable Funds Trust
- **CENTRAL INDEX KEY:** 0002013968

**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:** 811-23944
- **FILM NUMBER:** 251272047

**BUSINESS ADDRESS:**
- **STREET 1:** 555 THEODORE FREMD AVENUE
- **STREET 2:** SUITE A-101
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580
- **BUSINESS PHONE:** 212-922-2699

**MAIL ADDRESS:**
- **STREET 1:** 555 THEODORE FREMD AVENUE
- **STREET 2:** SUITE A-101
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580

## Series and Classes Contracts Data

### NAA WORLD EQUITY INCOME SERIES (Series ID: S000087640)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000253508 | NAA WORLD EQUITY INCOME SERIES |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** New Age Alpha Variable Funds Trust

- **b. Investment Company Act file number:** 811-23944

- **c. CIK number of Registrant:** 0002013968

- **d. LEI of Registrant:** 5299000HTJBNEG1Y8820

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

  - **Street Address 1:** 555 Theodore Fremd Avenue

  - **City:** Rye

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10580

  - **Telephone number:** 212-922-2699

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

- **a. Name of Series:** NAA WORLD EQUITY INCOME SERIES

- **b. EDGAR series identifier (if any):** S000087640

- **c. LEI of Series:** 529900U9UZJCVIPSBD84

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

- **a. Date of fiscal year-end:** 2025-12-31

- **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:** $112774210.91

**Total Liabilities:** $446101.56

**Net Assets:** $112328109.35

**Cash Not Reported:** $69588.29

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000253508 | -0.99%               | 3.20%                | 3.87%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $18637.34                | $-1254333.32                               |
| Month 2  | $55808.07                | $3009188.12                                |
| Month 3  | $83229.69                | $4018780.12                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| JPMorgan Chase & Co.                           | JPMorgan Chase & Company                     | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     17154 | NS      | $4973116.14   | 4.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions Inc                         | Motorola Solutions, Inc.                     | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |      1070 | NS      | $449892.20    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Hannover Rueck SE                              | Hannover Rueck SE                            | CUSIP: D3015J135<br>LEI: 529900KIN5BE45V5KB18 | Long             | EC               | CORP              | DE        |       977 | NS      | $307484.57    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Axa SA                                         | AXA S.A.                                     | CUSIP: F06106102<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |     17232 | NS      | $845768.48    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Paccar Inc                                     | PACCAR, Inc.                                 | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |      3444 | NS      | $327386.64    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Company                             | Ford Motor Company                           | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |     24800 | NS      | $269080.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores Inc                                | Ross Stores, Inc.                            | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |      2266 | NS      | $289096.28    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Panasonic Holdings Corp.                       | Panasonic Corporation                        | CUSIP: J6354Y104<br>LEI: 254900GE1G59KGWPHX32 | Long             | EC               | CORP              | JP        |     30200 | NS      | $326154.97    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger Limited                           | Schlumberger Ltd.                            | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |      8616 | NS      | $291220.80    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Real Estate Investment Corp.             | JAPAN REAL ESTATE INVESTMENT CORPORATION     | CUSIP: J27523109<br>LEI: 3538003YAIR3CBGJJ928 | Long             | EC               | CORP              | JP        |       140 | NS      | $114601.12    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Electric Industries Ltd.              | Sumito Electric Ind                          | CUSIP: J77411114<br>LEI: 5493005SP87FL5TOS202 | Long             | EC               | CORP              | JP        |     10232 | NS      | $219871.14    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Kenvue Inc.                                    | Kenvue, Inc.                                 | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |     12255 | NS      | $256497.15    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Asahi Group Holdings Ltd                       | Asahi Group Holdings                         | CUSIP: J02100113<br>LEI: 353800KAJ02XNHLCJW79 | Long             | EC               | CORP              | JP        |     19300 | NS      | $258284.73    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Danone SA                                      | Groupe DANONE                                | CUSIP: F12033134<br>LEI: 969500KMUQ2B6CBAF162 | Long             | EC               | CORP              | FR        |      6278 | NS      | $512888.20    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Thomson Reuters Corp                           | Thomson Reuters Corporation                  | CUSIP: 884903808<br>LEI: 549300561UZND4C7B569 | Long             | EC               | CORP              | CA        |      1910 | NS      | $383988.37    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| FactSet Research Systems Inc.                  | FactSet Research Systems, Inc.               | CUSIP: 303075105<br>LEI: 549300ZSJE7NBK6K9P30 | Long             | EC               | CORP              | US        |       241 | NS      | $107794.48    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                                 | BNP Paribas                                  | CUSIP: F1058Q238<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |      9894 | NS      | $889411.17    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Lockheed Martin Corporation                    | Lockheed Martin Corporation                  | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |      1314 | NS      | $608565.96    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Church & Dwight Co Inc.                        | Church & Dwight Company, Inc.                | CUSIP: 171340102<br>LEI: POOXSI30AWAQGYJZC921 | Long             | EC               | CORP              | US        |      1604 | NS      | $154160.44    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| KDDI Corp                                      | KDDI Corporation                             | CUSIP: J31843105<br>LEI: 5299003FU7V4I45FU310 | Long             | EC               | CORP              | JP        |     37136 | NS      | $639431.23    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                              | Exxon Mobil Corporation                      | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     25749 | NS      | $2775742.20   | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                                  | Accenture plc Class A                        | CUSIP: G1151C101<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |      4058 | NS      | $1212895.62   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corporation                       | Lam Research Corporation                     | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      7774 | NS      | $756721.16    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercedes-Benz Group AG                         | Mercedes-Benz Group AG                       | CUSIP: D1668R123<br>LEI: 529900R27DL06UVNT076 | Long             | EC               | CORP              | DE        |     11574 | NS      | $677399.36    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton SE            | LVMH Moet Hennessy Louis Vuitton SE          | CUSIP: F58485115<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |      2503 | NS      | $1310758.30   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd.                                     | Chubb Ltd.                                   | CUSIP: H1467J104<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | US        |      2373 | NS      | $687505.56    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| NetApp Inc.                                    | NetApp, Inc.                                 | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |      1259 | NS      | $134146.45    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                                   | Broadcom, Inc.                               | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     26977 | NS      | $7436210.05   | 6.62%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC Holdings PLC                              | HSBC HOLDINGS PLC                            | CUSIP: G4634U169<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EC               | CORP              | GB        |    193961 | NS      | $2347573.43   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc                               | Merck & Company, Inc.                        | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     16180 | NS      | $1280808.80   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| SEGRO PLC                                      | Segro Plc                                    | CUSIP: G80277141<br>LEI: 213800XC35KGM9NFC641 | Long             | EC               | CORP              | GB        |     14720 | NS      | $137308.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc.                           | Gilead Sciences, Inc.                        | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      8097 | NS      | $897714.39    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                                | CVS Health Corporation                       | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |      7628 | NS      | $526179.44    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Hoshizaki Corp.                                | Hoshizaki Corporation                        | CUSIP: J23254105<br>LEI: 5299001QAMLGU3SRBG20 | Long             | EC               | CORP              | JP        |      3100 | NS      | $107099.91    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| SoftBank Corp                                  | SoftBank Corporation                         | CUSIP: J75963132<br>LEI: 353800M1YCTS9JRBJ535 | Long             | EC               | CORP              | JP        |    372752 | NS      | $577127.65    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Financial Group Inc.           | Sumitomo Mitsui Financial Group, Inc.        | CUSIP: J7771X109<br>LEI: 35380028MYWPB6AUO129 | Long             | EC               | CORP              | JP        |     51240 | NS      | $1292828.99   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Aena SME S.A.                                  | Aena S.M.E. SA                               | CUSIP: E526LK101<br>LEI: 959800R7QMXKF0NFMT29 | Long             | EC               | CORP              | ES        |      4480 | NS      | $119572.20    | 0.11%             |  |  |  | Yes           |                  1 | On Loan: No      |
| ING Groep N.V.                                 | ING GROEP                                    | CUSIP: N4578E595<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EC               | CORP              | NL        |     53671 | NS      | $1177474.73   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Intesa Sanpaolo S.p.A.                         | Intesa Sanpaolo SpA                          | CUSIP: T55067101<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | EC               | CORP              | IT        |    124776 | NS      | $718894.94    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Svenska Handelsbanken AB                       | Svenska Handelsbanken AB                     | CUSIP: W9112U104<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | EC               | CORP              | SE        |     43768 | NS      | $585026.69    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyo Metro Co Ltd                             | Tokyo Metro Company Ltd.                     | CUSIP: J8T324105<br>LEI: 35380049N9IQPZ74JY58 | Long             | EC               | CORP              | JP        |      9200 | NS      | $107151.29    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Mizuho Financial Group Inc.                    | Mizuho Financial Group, Inc.                 | CUSIP: J4599L102<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | EC               | CORP              | JP        |     33052 | NS      | $916313.52    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Compagnie Generale des Etablissements Michelin | Cie Generale des Etablissements Michelin     | CUSIP: F61824870<br>LEI: 549300SOSI58J6VIW052 | Long             | EC               | CORP              | FR        |      7013 | NS      | $260530.06    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesco PLC                                      | Tesco plc                                    | CUSIP: G8T67X102<br>LEI: 2138002P5RNKC5W2JZ46 | Long             | EC               | CORP              | US        |     73214 | NS      | $403271.91    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd                         | AGNICO EAGLE MINES LTD                       | CUSIP: 008474108<br>LEI: YGE0EUBRF7IJOB3QRX76 | Long             | EC               | CORP              | CA        |      7223 | NS      | $860326.64    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Corning Incorporated                           | Corning, Inc.                                | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |      4786 | NS      | $251695.74    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                   | UBS Group AG                                 | CUSIP: H42097107<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EC               | CORP              | CH        |     19518 | NS      | $660522.18    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| TC Energy Corp                                 | TC Energy Corp Com                           | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |     15306 | NS      | $747034.29    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corporation                      | Realty Income Corporation REIT               | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |      5585 | NS      | $321751.85    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Rollins Inc                                    | Rollins, Inc.                                | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               | CORP              | US        |      1909 | NS      | $107705.78    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Orange S.A.                                    | Orange S.A.                                  | CUSIP: F6866T100<br>LEI: 969500MCOONR8990S771 | Long             | EC               | CORP              | FR        |     18008 | NS      | $273937.95    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| NiSource Inc.                                  | NiSource, Inc.                               | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |      2933 | NS      | $118317.22    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Legal & General Group PLC                      | Legal & General Group plc                    | CUSIP: G54404127<br>LEI: 213800JH9QQWHLO99821 | Long             | EC               | CORP              | GB        |     64416 | NS      | $225105.88    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tobacco PLC                   | British American Tobacco plc                 | CUSIP: G1510J102<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | US        |     21529 | NS      | $1023318.97   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| The TJX Companies Inc.                         | TJX Companies, Inc. (The)                    | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |      7202 | NS      | $889374.98    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                                 | Citigroup, Inc.                              | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     11705 | NS      | $996329.60    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corporation                            | Newmont Corporation                          | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |      6137 | NS      | $357541.62    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service, Inc.                    | United Parcel Service, Inc. Class B          | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |      4740 | NS      | $478455.60    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corporation                            | Stryker Corporation                          | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |      2232 | NS      | $883046.16    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagate Technology Holdings PLC                | Seagate Technology Holdings plc (Ireland)    | CUSIP: G7997R103<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               | CORP              | US        |      1287 | NS      | $185752.71    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Smurfit WestRock plc                           | Smurfit WestRock plc                         | CUSIP: G8267P108<br>LEI: 635400EGSEOPDW2EXS14 | Long             | EC               | CORP              | IE        |      3263 | NS      | $140798.45    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle SA                                      | Nestle S.A.                                  | CUSIP: H57312649<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |     15571 | NS      | $1547090.91   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co.                                   | Southern Company                             | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |      6903 | NS      | $633902.49    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial Inc.                   | Raymond James Financial, Inc.                | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |      1125 | NS      | $172541.25    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Unibrew A/S                              | ROYAL UNIBREW A/S                            | CUSIP: K8390X122<br>LEI: 529900D69KFL8IAP8Q63 | Long             | EC               | CORP              | DK        |      1297 | NS      | $105974.43    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ABB Ltd.                                       | ABB Ltd.                                     | CUSIP: H0010V101<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |      9597 | NS      | $572263.76    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp.                              | FirstEnergy Corporation                      | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |      3246 | NS      | $130683.96    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                                    | Walmart, Inc.                                | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     27754 | NS      | $2713786.12   | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp.                                   | Lennar Corporation Class A                   | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |      1589 | NS      | $175759.29    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Index Funds                           | Vanguard S&P 500 ETF                         | CUSIP: 922908363<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |      1381 | NS      | $784449.43    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Danske Bank A/S                                | Danske Bank A/S                              | CUSIP: K22272114<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | EC               | CORP              | DK        |     19730 | NS      | $804641.14    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Garmin Ltd                                     | Garmin Ltd.                                  | CUSIP: H2906T109<br>LEI: 2549001E0HIPIJQ0W046 | Long             | EC               | CORP              | US        |      1028 | NS      | $214564.16    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group Ltd                              | Everest Group Ltd.                           | CUSIP: G3223R108<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | US        |       320 | NS      | $108752.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon Corp.              | Bank of New York Mellon Corporation (The)    | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |      4526 | NS      | $412363.86    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corporation                             | Cintas Corporation                           | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2164 | NS      | $482290.68    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunzl PLC                                      | Bunzl plc                                    | CUSIP: G16968110<br>LEI: 213800Q1Q9DV4L78UM09 | Long             | EC               | CORP              | GB        |      4121 | NS      | $131227.63    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| LKQ Corporation                                | LKQ Corporation                              | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |      2896 | NS      | $107180.96    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Swiss Life Holding AG                          | Swiss Life Holding AG                        | CUSIP: H8404J162<br>LEI: 5493000KUC3Z24U77V93 | Long             | EC               | CORP              | CH        |       170 | NS      | $171971.26    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Swedbank AB (publ)                             | SWEDBANK AB - A SHARES                       | CUSIP: W94232100<br>LEI: M312WZV08Y7LYUC71685 | Long             | EC               | CORP              | SE        |     25729 | NS      | $681288.06    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Post Holdings Co Ltd.                    | JAPAN POST HOLDINGS CO LT                    | CUSIP: J2800D109<br>LEI: 5299003D9N4JBS256X18 | Long             | EC               | CORP              | JP        |     24976 | NS      | $231586.81    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                                     | Siemens AG                                   | CUSIP: D69671218<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |     12351 | NS      | $3166307.60   | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Snap-On Incorporated                           | Snap-on, Inc.                                | CUSIP: 833034101<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | EC               | CORP              | US        |       359 | NS      | $111713.62    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Works Company, Inc.             | American Water Works Company, Inc.           | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |      1213 | NS      | $168740.43    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                               | Duke Energy Corporation                      | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |      4922 | NS      | $580796.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Europacific Partners PLC             | Coca-Cola Europacific Partners plc           | CUSIP: G25839104<br>LEI: 549300LTH67W4GWMRF57 | Long             | EC               | CORP              | US        |      2236 | NS      | $207321.92    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Service Enterprise Group Incorporated   | Public Service Enterprise Group, Inc.        | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |      3009 | NS      | $253297.62    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Chartered PLC                         | Standard Chartered plc                       | CUSIP: G84228157<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | EC               | CORP              | GB        |     21477 | NS      | $355807.88    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp.                                  | Chevron Corporation                          | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9889 | NS      | $1416005.91   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| DnB Bank ASA                                   | DNB Bank ASA                                 | CUSIP: R1R15X100<br>LEI: 549300GKFG0RYRRQ1414 | Long             | EC               | CORP              | NO        |     13935 | NS      | $385210.21    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co (The)                             | Coca-Cola Company (The)                      | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     25182 | NS      | $1781626.50   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                                  | Medtronic plc                                | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | US        |      8340 | NS      | $726997.80    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Severn Trent PLC                               | Severn Trent plc                             | CUSIP: G8056D159<br>LEI: 213800RPBXRETY4A4C59 | Long             | EC               | CORP              | GB        |      3310 | NS      | $124211.32    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico Inc                                    | PepsiCo, Inc.                                | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      8835 | NS      | $1166573.40   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Transdigm Group Inc.                           | TransDigm Group, Inc.                        | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       355 | NS      | $539827.20    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc.                                      | eBay, Inc.                                   | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |      2951 | NS      | $219731.46    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Nova Scotia                            | Bank of Nova Scotia (The)                    | CUSIP: 064149107<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | EC               | CORP              | CA        |     17874 | NS      | $988108.30    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Steel Corp.                             | NIPPON STEEL & SUMITOMO METAL CORPORATION    | CUSIP: J55678106<br>LEI: 35380065QWQ4U2V3PA33 | Long             | EC               | CORP              | JP        |     15140 | NS      | $287284.73    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.                      | Goldman Sachs Group, Inc. (The)              | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      1867 | NS      | $1321369.25   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                  | iShares MSCI EAFE ETF                        | CUSIP: 464287465<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      7514 | NS      | $671676.46    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Companies, Inc.                      | Travelers Companies, Inc. (The)              | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |      1414 | NS      | $378301.56    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Communications Inc.                     | Rogers Communications, Inc.                  | CUSIP: 775109200<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | EC               | CORP              | CA        |      5479 | NS      | $162466.18    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                                | T-Mobile USA, Inc.                           | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      3192 | NS      | $760525.92    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Boerse AG                             | Deutsche Boerse AG                           | CUSIP: D1882G119<br>LEI: 529900G3SW56SHYNPR95 | Long             | EC               | CORP              | DE        |      2982 | NS      | $972574.56    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Amrize Ltd.                                    | Amrize Ltd.                                  | CUSIP: H2927K103<br>LEI: 529900SLCCO6K43P8146 | Long             | EC               | CORP              | CH        |      3316 | NS      | $165423.85    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc.                                | Home Depot, Inc. (The)                       | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      6585 | NS      | $2414324.40   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp.                               | Sony Corporation                             | CUSIP: J76379106<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |     81892 | NS      | $2120788.45   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Expeditors International Of Washington Inc.    | Expeditors International of Washington, Inc. | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |       950 | NS      | $108537.50    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Nordea Bank ABP                                | Nordea Bank Abp                              | CUSIP: X5S8VL105<br>LEI: 529900ODI3047E2LIV03 | Long             | EC               | CORP              | FI        |     34545 | NS      | $514147.81    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Trust Corporation                     | Northern Trust Corporation                   | CUSIP: 665859104<br>LEI: 549300GLF98S992BC502 | Long             | EC               | CORP              | US        |      1118 | NS      | $141751.22    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Paychex Inc                                    | Paychex, Inc.                                | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |      2075 | NS      | $301829.50    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                                      | Sanofi S.A.                                  | CUSIP: F5548N101<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |     11405 | NS      | $1104364.02   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy, Inc.                               | NRG Energy, Inc.                             | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |      1201 | NS      | $192856.58    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc.                                    | Zoetis, Inc.                                 | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |      3011 | NS      | $469565.45    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Julius Baer Group AG                           | Julius Baer Group Ltd.                       | CUSIP: H4414N103<br>LEI: 5299007MF0604ZGJER92 | Long             | EC               | CORP              | CH        |      1858 | NS      | $125615.23    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corporation                   | General Dynamics Corporation                 | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |      1558 | NS      | $454406.28    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Sekisui House Ltd                              | Sekisui House Ltd.                           | CUSIP: J70746136<br>LEI: 529900GMNDOYQSAJAE76 | Long             | EC               | CORP              | JP        |      8629 | NS      | $190697.13    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Genuine Parts Co                               | Genuine Parts Company                        | CUSIP: 372460105<br>LEI: 549300D46DQVEU651W04 | Long             | EC               | CORP              | US        |       925 | NS      | $112211.75    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokio Marine Holdings Inc.                     | Tokio Marine Holdings, Inc.                  | CUSIP: J86298106<br>LEI: 5299009QN2NZ191KLS29 | Long             | EC               | CORP              | JP        |     25696 | NS      | $1090246.87   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc.                          | Invitation Homes, Inc.                       | CUSIP: 46187W107<br>LEI: 984500FE452E665C9F85 | Long             | EC               | CORP              | US        |      3548 | NS      | $116374.40    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands, Inc.                     | Constellation Brands, Inc. Class A           | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |      1027 | NS      | $167072.36    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Sydbank AS                                     | Sydbank A/S                                  | CUSIP: K9419V113<br>LEI: GP5DT10VX1QRQUKVBK64 | Long             | EC               | CORP              | DK        |      1609 | NS      | $119349.28    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Hewlett Packard Enterprise Co.                 | Hewlett Packard Enterprise Company           | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |      8614 | NS      | $176156.30    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Games Workshop Group PLC                       | Games Workshop Group PLC                     | CUSIP: G3715N102<br>LEI: 213800RP9QJQYGWHNT41 | Long             | EC               | CORP              | GB        |       493 | NS      | $109757.06    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold Delhaize NV                  | Koninklijke Ahold Delhaize N.V.              | CUSIP: N0074E105<br>LEI: 724500C9GNBV20UYRX36 | Long             | EC               | CORP              | NL        |     15899 | NS      | $664799.18    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities, Inc.                    | AvalonBay Communities, Inc. REIT             | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |       897 | NS      | $182539.50    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                 | Morgan Stanley                               | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      7738 | NS      | $1089974.68   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co.                         | Southwest Airlines Company                   | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |      3937 | NS      | $127716.28    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp.                                   | Exelon Corporation                           | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |      6361 | NS      | $276194.62    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Spirax Group PLC                               | SPIRAX-SARCO ENGINEERING PLC                 | CUSIP: G83561129<br>LEI: 213800WFVZQMHOZP2W17 | Long             | EC               | CORP              | GB        |      1368 | NS      | $111815.64    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                    | Novartis AG                                  | CUSIP: H5820Q150<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |     11828 | NS      | $1433701.49   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashtead Group PLC                              | Ashtead Group plc                            | CUSIP: G05320109<br>LEI: 2138007UTBN8X9K1A235 | Long             | EC               | CORP              | US        |      4630 | NS      | $296715.03    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Pacific Kansas City Ltd.              | Canadian Pacific Kansas City                 | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     13380 | NS      | $1062651.62   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Caribbean Group                          | Royal Caribbean Group                        | CUSIP: V7780T103<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | US        |      1598 | NS      | $500397.72    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corporation                            | Comcast Corporation Class A                  | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     24439 | NS      | $872227.91    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corp.          | International Business Machines Corporation  | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      5624 | NS      | $1657842.72   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp.                    | Capital One Financial Corporation            | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |      4086 | NS      | $869337.36    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Open Text Corp                                 | Open Text Corpation                          | CUSIP: 683715106<br>LEI: 549300HP7ONDQODZJV16 | Long             | EC               | CORP              | CA        |      4483 | NS      | $130957.54    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Suzuki Motor Corp.                             | Suzuki Motor Corporation                     | CUSIP: J78529138<br>LEI: 353800D83H0V3ZV1SV24 | Long             | EC               | CORP              | JP        |     25316 | NS      | $306365.26    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                            | BBH Overnight Sweep                          | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | CORP              | US        |    621453 | PA      | $621452.86    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries NV                   | LyondellBasell Industries N.V. Class A       | CUSIP: N53745100<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Long             | EC               | CORP              | US        |      1844 | NS      | $106693.84    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Magna International Inc                        | Magna International, Inc.                    | CUSIP: 559222401<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | EC               | CORP              | CA        |      3769 | NS      | $145656.49    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp                                       | CDW Corporation                              | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |       855 | NS      | $152694.45    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Ireland Group PLC                      | Bank of Ireland Group PLC                    | CUSIP: G0756R109<br>LEI: 635400C8EK6DRI12LJ39 | Long             | EC               | CORP              | US        |     15459 | NS      | $220049.49    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust, Inc.                     | Essex Property Trust, Inc. REIT              | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |       409 | NS      | $115910.60    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Electric Corp.                      | Mitsubishi Electric Corporation              | CUSIP: J43873116<br>LEI: 549300TRXM9Y6561AX39 | Long             | EC               | CORP              | JP        |     27160 | NS      | $586646.95    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Holcim AG                                      | Lafarge Holcim - Reclaim                     | CUSIP: H3816Q102<br>LEI: 529900EHPFPYHV6IQO98 | Long             | EC               | CORP              | CH        |      5332 | NS      | $395834.13    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Talanx AG                                      | Talanx AG                                    | CUSIP: D82827110<br>LEI: 5299006ZIILJ6VJVSJ32 | Long             | EC               | CORP              | DE        |       971 | NS      | $125692.46    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| The Cigna Group                                | Cigna Group (The)                            | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      1679 | NS      | $555043.82    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Vici Properties Inc                            | Vici Properties, Inc                         | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |      6631 | NS      | $216170.60    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| The Allstate Corporation                       | Allstate Corporation (The)                   | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |      1666 | NS      | $335382.46    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Xylem, Inc.                                    | Xylem, Inc.                                  | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |      1570 | NS      | $203095.20    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA             | Banco Bilbao Vizcaya Argentaria S.A.         | CUSIP: E11805103<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |     34773 | NS      | $534701.44    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Spdr S&P 500 Etf Trust                         | SPDR S&P 500 ETF Trust                       | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             | EC               | RF                | US        |      1270 | NS      | $784669.50    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| UniCredit S.p.A.                               | Unicredit SpA                                | CUSIP: T9T23L642<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |     12338 | NS      | $827038.37    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| The Estee Lauder Companies Inc.                | Estee Lauder Companies, Inc. (The) Class A   | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | EC               | CORP              | US        |      1406 | NS      | $113604.80    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank of Canada                        | National Bank of Canada                      | CUSIP: 633067103<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | EC               | CORP              | CA        |      5640 | NS      | $581842.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander, S.A.                          | Banco Santander S.A.                         | CUSIP: E19790109<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EC               | CORP              | ES        |     90792 | NS      | $751466.88    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                       | Simon Property Group, Inc. REIT              | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |      1972 | NS      | $317018.72    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab Inc.                                    | Ecolab, Inc.                                 | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |      1635 | NS      | $440534.40    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicom Group Inc                              | Omnicom Group, Inc.                          | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |      1532 | NS      | $110212.08    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| The Interpublic Group of Companies, Inc.       | Interpublic Group of Companies, Inc. (The)   | CUSIP: 460690100<br>LEI: 5493008IUOJ5VWTRC333 | Long             | EC               | CORP              | US        |      4488 | NS      | $109866.24    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| D'Ieteren Group                                | s.a. D'Ieteren n.v.                          | CUSIP: B49343187<br>LEI: 549300DV5KJ23OKVTW34 | Long             | EC               | CORP              | BE        |      2382 | NS      | $511751.24    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC                         | Trane Technologies plc                       | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |      1402 | NS      | $613248.82    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co.                          | Colgate-Palmolive Company                    | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |      5310 | NS      | $482679.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc.                           | Delta Air Lines, Inc.                        | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |      4523 | NS      | $222441.14    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group Inc.            | Mitsubishi UFJ Financial Group, Inc.         | CUSIP: J44497105<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               | CORP              | JP        |    159132 | NS      | $2190923.81   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexagon AB                                     | Hexagon AB B-Shares                          | CUSIP: W4R431112<br>LEI: 549300WJFW6ILNI4TA80 | Long             | EC               | CORP              | SE        |     55939 | NS      | $562690.10    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International, Inc.                   | Marriott International, Inc. Class A         | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |      1492 | NS      | $407629.32    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| W.R. Berkley Corporation                       | Berkley (W.R.) Corporation                   | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |      1878 | NS      | $137976.66    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK plc                                        | GlaxoSmithKline plc                          | CUSIP: G3910J179<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | US        |     47344 | NS      | $903263.42    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc.                                    | Humana, Inc.                                 | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |       725 | NS      | $177248.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                            | Cisco Systems, Inc.                          | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     24553 | NS      | $1703487.14   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                                     | Amgen, Inc.                                  | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      3445 | NS      | $961878.45    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Beazley PLC (UK)                               | Beazley plc                                  | CUSIP: G0936K107<br>LEI: 213800VTOMUWD41GIT12 | Long             | EC               | CORP              | GB        |      9125 | NS      | $117106.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Dell Technologies Inc                          | Dell Technologies, Inc. Class C              | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |      1840 | NS      | $225584.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Trust Group Inc.               | Sumitomo Mitsui Trust Holdings, Inc.         | CUSIP: J7772M102<br>LEI: 353800P843RLCDBLNT17 | Long             | EC               | CORP              | JP        |      9300 | NS      | $247883.77    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corporation                                | Fox Corporation - Class A Non-Voting         | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |      1949 | NS      | $109221.96    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Company                         | General Motors Company                       | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |      6164 | NS      | $303330.44    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-27

**Name of Applicant:** New Age Alpha Variable Funds Trust

**Signature:** Keith D. Kemp

**Name of Signer:** Keith D. Kemp

**Title:** President