# EDGAR Filing Document

**Accession Number:** 0001592900
**File Stem:** 0001592900-25-002496
**Filing Date:** 2025-8
**Character Count:** 25714
**Document Hash:** b63cd62729b7571dd4ffe770d718e85a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001592900-25-002496.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001592900-25-002496

**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**: 20260331

**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:** 251280055

**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

### Morgan Dempsey Large Cap Value ETF (Series ID: S000080210)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000241955 | Morgan Dempsey Large Cap Value ETF | MDLV            |

## Nport-Ex

---

| |
|:---|
| **MORGAN DEMPSEY LARGE CAP VALUE ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 87.2%** | **Shares** | **Value**  |
| **<u>Communication Services</u> - 7.2%** | |  |
| **Integrated Telecommunication Services - 7.2%** |  |  |
| AT&T, Inc.  | 38098 | $1102556 |
| Verizon Communications, Inc.  | 15792 | 683320 |
| **Total Communication Services** |  | 1785876 |
| **<u>Consumer Discretionary</u> - 3.3%** |  |  |
| **Restaurants - 3.3%** |  |  |
| McDonald's Corp.  | 1402 | 409622 |
| Starbucks Corp.  | 4406 | 403722 |
| **Total Consumer Discretionary** |  | 813344 |
| **<u>Consumer Staples</u> - 11.3%** |  |  |
| **Household Products - 1.8%** |  |  |
| Procter & Gamble Co.  | 2815 | 448486 |
| **Packaged Foods & Meats - 3.6%** |  |  |
| General Mills, Inc.  | 8313 | 430697 |
| Kraft Heinz Co.  | 17504 | 451953 |
|  |  | 882650 |
| **Soft Drinks & Non-alcoholic Beverages - 3.0%** |  |  |
| Coca-Cola Co.  | 10692 | 756459 |
| **Tobacco - 2.9%** |  |  |
| Philip Morris International, Inc.  | 3979 | 724695 |
| **Total Consumer Staples** |  | 2812290 |
| **<u>Energy</u> - 10.6%** |  |  |
| **Integrated Oil & Gas - 6.3%** |  |  |
| Chevron Corp.  | 4961 | 710365 |
| Exxon Mobil Corp.  | 7906 | 852267 |
|  |  | 1562632 |
| **Oil & Gas Storage & Transportation - 4.3%** |  |  |
| ONEOK, Inc.  | 4548 | 371253 |
| Pembina Pipeline Corp.  | 18605 | 697874 |
|  |  | 1069127 |
| **Total Energy** |  | 2631759 |

---

------

---

| |
|:---|
| **MORGAN DEMPSEY LARGE CAP VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 87.2% (CONTINUED)** | **Shares** | **Value**  |
| **<u>Financials</u> - 11.3%** | |  |
| **Diversified Banks - 7.3%** |  |  |
| Citigroup, Inc.  | 12107 | $1030548 |
| Wells Fargo & Co.  | 9670 | 774760 |
|  |  | 1805308 |
| **Diversified Financial Services - 1.5%** |  |  |
| Voya Financial, Inc.  | 5299 | 376229 |
| **Life & Health Insurance - 2.5%** |  |  |
| Prudential Financial, Inc.  | 5909 | 634863 |
| **Total Financials** |  | 2816400 |
| **<u>Health Care</u> - 8.7%** |  |  |
| **Health Care Equipment - 2.8%** |  |  |
| Medtronic PLC  | 7914 | 689864 |
| **Pharmaceuticals - 5.9%** |  |  |
| Johnson & Johnson  | 3383 | 516753 |
| Merck & Co., Inc.  | 5857 | 463640 |
| Pfizer, Inc.  | 20008 | 484994 |
|  |  | 1465387 |
| **Total Health Care** |  | 2155251 |
| **<u>Industrials</u> - 10.5%** |  |  |
| **Aerospace & Defense - 5.7%** |  |  |
| General Dynamics Corp.  | 2342 | 683067 |
| Lockheed Martin Corp.  | 1591 | 736856 |
|  |  | 1419923 |
| **Air Freight & Logistics - 1.9%** |  |  |
| United Parcel Service, Inc. - Class B  | 4693 | 473711 |
| **Construction Machinery & Heavy Transportation Equipment - 2.9%** |  |  |
| Cummins, Inc.  | 2167 | 709693 |
| **Total Industrials** |  | 2603327 |
| **<u>Information Technology</u> - 7.0%** |  |  |
| **Communications Equipment - 3.7%** |  |  |
| Cisco Systems, Inc.  | 13251 | 919354 |
| **IT Consulting & Other Services - 3.3%** |  |  |
| International Business Machines Corp.  | 2793 | 823321 |
| **Total Information Technology** |  | 1742675 |

---

------

---

| |
|:---|
| **MORGAN DEMPSEY LARGE CAP VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 87.2% (CONTINUED)** | **Shares** | **Value**  |
| **<u>Materials</u> - 3.0%** | |  |
| **Commodity Chemicals - 1.7%** |  |  |
| LyondellBasell Industries NV - Class A  | 7260 | $420064 |
| **Diversified Metals & Mining - 1.3%** |  |  |
| Rio Tinto PLC - ADR  | 5412 | 315682 |
| **Total Materials** |  | 735746 |
| **<u>Utilities</u> - 14.3%** |  |  |
| **Electric Utilities - 10.8%** |  |  |
| Duke Energy Corp.  | 5383 | 635194 |
| Entergy Corp.  | 9692 | 805599 |
| Eversource Energy  | 9656 | 614314 |
| Southern Co.  | 6778 | 622424 |
|  |  | 2677531 |
| **Multi-Utilities - 3.5%** |  |  |
| WEC Energy Group, Inc.  | 8384 | 873613 |
| **Total Utilities** |  | 3551144 |
| **TOTAL COMMON STOCKS** (Cost $21,282,583) |  | 21647812 |
| **REAL ESTATE INVESTMENT TRUSTS - 3.8%** |  |  |
| **<u>Real Estate</u> - 3.8%** |  |  |
| **Health Care REITs - 1.0%** |  |  |
| Alexandria Real Estate Equities, Inc.  | 3406 | 247378 |
| **Telecom Tower REITs - 2.8%** |  |  |
| Crown Castle, Inc.  | 6707 | 689010 |
| **Total Real Estate** |  | 936388 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $1,080,115) |  | 936388 |
| **EXCHANGE TRADED FUNDS - 2.7%** |  |  |
| SPDR Bloomberg 1-3 Month T-Bill ETF  | 7369 | 675959 |
| **TOTAL EXCHANGE TRADED FUNDS** (Cost $675,572) |  | 675959 |
| **CLOSED-END FUNDS - 2.2%** |  |  |
| Main Street Capital Corp.  | 9431 | 557372 |
| **TOTAL CLOSED-END FUNDS** (Cost $518,208) |  | 557372 |

---

------

---

| |
|:---|
| **MORGAN DEMPSEY LARGE CAP VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **SHORT-TERM INVESTMENTS - 4.2%** | **Shares** | **Value**  |
| **Money Market Funds - 4.2%** | |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(a)</sup> | 1030114 | $1030114 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $1,030,114) |  | 1030114 |
| **TOTAL INVESTMENTS - 100.1% (**Cost $24,586,592**)** |  | $24847645 |
| Liabilities in Excess of Other Assets - (0.1)%  |  | (35976) |
| **TOTAL NET ASSETS - 100.0%** |  | $24811669 |

---

Percentages are stated as a percent of net assets.

---

| |
|:---|
| ADR - American Depositary Receipt |
| PLC - Public Limited Company |
| REIT - Real Estate Investment Trust |

---

(a) <br> The rate shown represents the 7-day annualized effective yield as of June 30, 2025.

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

------

**MORGAN DEMPSEY LARGE CAP VALUE ETF**

****

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

Morgan Dempsey Large Cap Value ETF (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **DESCRIPTION** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** | **TOTAL** |
| **<u>Investments:</u>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $21647812 | $— | $— | $21647812 |
| &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts | 936388 |  |  | 936388 |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange Traded Funds | 675959 |  |  | 675959 |
| &nbsp;&nbsp;&nbsp;&nbsp;Closed-End Funds | 557372 |  |  | 557372 |
| &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 1030114 |  |  | 1030114 |
| Total Investments | $24847645 | $— | $— | $24847645 |

---

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:** Morgan Dempsey Large Cap Value ETF

- **b. EDGAR series identifier (if any):** S000080210

- **c. LEI of Series:** 54930009W4R3YXVTON86

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

- **a. Date of fiscal year-end:** 2026-03-31

- **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:** $26172334.04

**Total Liabilities:** $12349.53

**Net Assets:** $26159984.51

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000241955 | -3.91%               | 1.47%                | 2.47%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-456115.11              | $-892424.54                                |
| Month 2  | $-50144.70               | $322963.89                                 |
| Month 3  | $120694.77               | $450500.12                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Entergy Corp                               | Entergy Corp                               | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |     10217 | NS      | $849237.04    | 3.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc                          | Cisco Systems Inc                          | CUSIP: 17275R102<br>LEI: 8E6NF1YAL0WT6CWXXV93 | Long             | EC               | CORP              | US        |     13971 | NS      | $969307.98    | 3.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp                             | Starbucks Corp                             | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |      4641 | NS      | $425254.83    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                              | Citigroup Inc                              | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     12762 | NS      | $1086301.44   | 4.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                           | Exxon Mobil Corp                           | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      8331 | NS      | $898081.80    | 3.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential Financial Inc                   | Prudential Financial Inc                   | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EC               | CORP              | US        |      6229 | NS      | $669243.76    | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc                 | Verizon Communications Inc                 | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     16647 | NS      | $720315.69    | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc            | Philip Morris International Inc            | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      4194 | NS      | $763853.22    | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                               | Chevron Corp                               | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5226 | NS      | $748310.94    | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service Inc                  | United Parcel Service Inc                  | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |      4948 | NS      | $499451.12    | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Kraft Heinz Co/The                         | Kraft Heinz Co/The                         | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |     18454 | NS      | $476482.28    | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                              | Medtronic PLC                              | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |      8344 | NS      | $727346.48    | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC                              | Rio Tinto PLC                              | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |      5702 | NS      | $332597.66    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries NV               | LyondellBasell Industries NV               | CUSIP: N/A<br>LEI: BN6WCCZ8OVP3ITUUVN49       | Long             | EC               | CORP              | NL        |      7650 | NS      | $442629.00    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Pembina Pipeline Corp                      | Pembina Pipeline Corp                      | CUSIP: 706327103<br>LEI: 5493002W3L9YICM6FU21 | Long             | EC               | CORP              | CA        |     19615 | NS      | $735758.65    | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Bloomberg 1-3 Month T-Bill ETF        | SPDR Bloomberg 1-3 Month T-Bill ETF        | CUSIP: 78468R663<br>LEI: 549300GQCVCME1YJ6B50 | Long             | EC               | RF                | US        |      7769 | NS      | $712650.37    | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equities Inc        | Alexandria Real Estate Equities Inc        | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | RE               | RF                | US        |      3591 | NS      | $260814.33    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc                           | Crown Castle Inc                           | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | RE               | RF                | US        |      7067 | NS      | $725992.91    | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obligations Fund | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   1221754 | PA      | $1221754.28   | 4.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                                 | Pfizer Inc                                 | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |     21093 | NS      | $511294.32    | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                           | Wells Fargo & Co                           | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     10195 | NS      | $816823.40    | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Main Street Capital Corp                   | Main Street Capital Corp                   | CUSIP: 56035L104<br>LEI: N/A                  | Long             | EC               | RF                | US        |      9941 | NS      | $587513.10    | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Financial Inc                         | Voya Financial Inc                         | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |      5584 | NS      | $396464.00    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Cummins Inc                                | Cummins Inc                                | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |      2282 | NS      | $747355.00    | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                           | Duke Energy Corp                           | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |      5673 | NS      | $669414.00    | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corp                      | General Dynamics Corp                      | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |      2467 | NS      | $719525.22    | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| General Mills Inc                          | General Mills Inc                          | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |      8763 | NS      | $454011.03    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corp       | International Business Machines Corp       | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      2943 | NS      | $867537.54    | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                          | Johnson & Johnson                          | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      3563 | NS      | $544248.25    | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The                           | Coca-Cola Co/The                           | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     11272 | NS      | $797494.00    | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                             | Merck & Co Inc                             | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      6172 | NS      | $488575.52    | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Eversource Energy                          | Eversource Energy                          | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |     10176 | NS      | $647397.12    | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK Inc                                  | ONEOK Inc                                  | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |      4793 | NS      | $391252.59    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Lockheed Martin Corp                       | Lockheed Martin Corp                       | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |      1676 | NS      | $776222.64    | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The                    | Procter & Gamble Co/The                    | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      2965 | NS      | $472383.80    | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                                   | AT&T Inc                                   | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     40168 | NS      | $1162461.92   | 4.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co/The                            | Southern Co/The                            | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |      7143 | NS      | $655941.69    | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC Energy Group Inc                       | WEC Energy Group Inc                       | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |      8839 | NS      | $921023.80    | 3.52%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp                            | McDonald's Corp                            | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      1477 | NS      | $431535.09    | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** EA Series Trust

**Signature:** /s/ Sean Hegarty

**Name of Signer:** Sean Hegarty

**Title:** Treasurer