# EDGAR Filing Document

**Accession Number:** 0002013853
**File Stem:** 0000910472-26-002870
**Filing Date:** 2026-2
**Character Count:** 66870
**Document Hash:** d548a507a402d3018bd8003a127d071f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-002870.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0000910472-26-002870

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** New Age Alpha Funds Trust
- **CENTRAL INDEX KEY:** 0002013853

**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:** 811-23945
- **FILM NUMBER:** 26683844

**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 Allocation Fund (Series ID: S000087625)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000253469 | Class C             |  |
| C000253470 | Class P             |  |
| C000253471 | Institutional Class |  |
| C000253472 | Class A             |  |

## Nport-Ex

---

| |
|:---|
| **NAA ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **December 31, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 79.1%** |  |
|  | **Communications - 9.3%** |  |
| 7316 | Alphabet, Inc., Class A | $2289908 |
| 15334 | Alphabet, Inc., Class C | 4811808 |
| 84192 | AT&T, Inc. | 2091330 |
| 320 | Booking Holdings, Inc. | 1713706 |
| 5363 | Meta Platforms, Inc., Class A | 3540063 |
| 6736 | T-Mobile US, Inc. | 1367677 |
| 21659 | Uber Technologies, Inc.<sup>(a)</sup> | 1769757 |
|  |  | 17584249 |
|  | **Consumer Discretionary - 7.3%** |  |
| 24650 | Amazon.com, Inc.<sup>(a)</sup> | 5689712 |
| 14090 | Chipotle Mexican Grill, Inc.<sup>(a)</sup> | 521330 |
| 3148 | DR Horton, Inc. | 453406 |
| 10417 | General Motors Company | 847110 |
| 2496 | Hilton Worldwide Holdings, Inc. | 716976 |
| 2630 | Lennar Corporation, Class A | 270364 |
| 1105 | Lululemon Athletica, Inc.<sup>(a)</sup> | 229630 |
| 2373 | Marriott International Inc, Class A | 736200 |
| 9993 | O'Reilly Automotive, Inc.<sup>(a)</sup> | 911462 |
| 2284 | PulteGroup, Inc. | 267822 |
| 7271 | Tesla, Inc.<sup>(a)</sup> | 3269915 |
|  |  | 13913927 |
|  | **Consumer Staples - 3.8%** |  |
| 24545 | Coca-Cola Company (The) | 1715940 |
| 16371 | Keurig Dr Pepper, Inc. | 458552 |
| 11494 | PepsiCo, Inc. | 1649619 |
| 11767 | Procter & Gamble Company (The) | 1686329 |
| 15133 | Walmart, Inc. | 1685968 |
|  |  | 7196408 |
|  | **Energy - 2.3%** |  |
| 12116 | Baker Hughes Company | 551763 |
| 2225 | Diamondback Energy, Inc. | 334484 |
| 14887 | Exxon Mobil Corporation | 1791502 |
| 1251 | First Solar, Inc.<sup>(a)</sup> | 326799 |
| 4972 | Phillips 66 | 641587 |

---

---

| |
|:---|
| **NAA ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 79.1% (Continued)** |  |
|  | **Energy - 2.3% (Continued)** |  |
| 17302 | SLB Ltd. | $664050 |
|  |  | 4310185 |
|  | **Financials - 8.7%** |  |
| 2938 | Allstate Corporation (The) | 611545 |
| 4595 | American Express Company | 1699920 |
| 2862 | Arthur J. Gallagher & Company | 740657 |
| 31997 | Bank of America Corporation | 1759835 |
| 4686 | Berkshire Hathaway, Inc., Class B<sup>(a)</sup> | 2355418 |
| 4109 | Chubb Ltd. | 1282501 |
| 15487 | Citigroup, Inc. | 1807178 |
| 1985 | Goldman Sachs Group, Inc. (The) | 1744815 |
| 3050 | Hartford Insurance Group, Inc. (The) | 420290 |
| 7115 | JPMorgan Chase & Company | 2292595 |
| 9883 | Morgan Stanley | 1754529 |
|  |  | 16469283 |
|  | **Health Care - 7.0%** |  |
| 5247 | Amgen, Inc. | 1717396 |
| 2207 | Cooper Companies, Inc. (The)<sup>(a)</sup> | 180886 |
| 1684 | Eli Lilly & Company | 1809761 |
| 14223 | Gilead Sciences, Inc. | 1745731 |
| 932 | IDEXX Laboratories, Inc.<sup>(a)</sup> | 630526 |
| 832 | Insulet Corporation<sup>(a)</sup> | 236488 |
| 17450 | Merck & Company, Inc. | 1836787 |
| 3968 | Stryker Corporation | 1394632 |
| 5231 | UnitedHealth Group, Inc. | 1726805 |
| 2875 | Vertex Pharmaceuticals, Inc.<sup>(a)</sup> | 1303410 |
| 4890 | Zoetis, Inc. | 615260 |
|  |  | 13197682 |
|  | **Industrials - 6.2%** |  |
| 13516 | Amphenol Corporation, Class A | 1826552 |
| 3093 | Caterpillar, Inc. | 1771887 |
| 3903 | Cintas Corporation | 734037 |
| 7305 | Delta Air Lines, Inc. | 506967 |
| 12898 | Fastenal Company | 517597 |

---

---

| |
|:---|
| **NAA ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 79.1% (Continued)** |  |
|  | **Industrials - 6.2% (Continued)** |  |
| 5948 | General Electric Company | $1832163 |
| 7030 | Honeywell International, Inc. | 1371483 |
| 446 | Huntington Ingalls Industries, Inc. | 151671 |
| 1472 | Parker-Hannifin Corporation | 1293829 |
| 2298 | Republic Services, Inc. | 487015 |
| 5622 | Southwest Airlines Company | 232357 |
| 741 | United Rentals, Inc. | 599706 |
| 479 | WW Grainger, Inc. | 483335 |
|  |  | 11808599 |
|  | **Materials - 1.7%** |  |
| 2867 | Ecolab, Inc. | 752645 |
| 11949 | Newmont Corporation | 1193108 |
| 2632 | Sherwin-Williams Company (The) | 852846 |
| 1568 | Vulcan Materials Company | 447225 |
|  |  | 3245824 |
|  | **Real Estate - 1.7%** |  |
| 5473 | American Tower Corporation, Class A | 960895 |
| 3339 | CBRE Group, Inc., Class A<sup>(a)</sup> | 536878 |
| 6999 | Host Hotels & Resorts, Inc. | 124092 |
| 3700 | Iron Mountain, Inc. | 306915 |
| 10600 | Realty Income Corporation | 597522 |
| 3740 | Simon Property Group, Inc. | 692311 |
|  |  | 3218613 |
|  | **Technology - 29.1%** |  |
| 37994 | Apple, Inc. | 10329049 |
| 4585 | Automatic Data Processing, Inc. | 1179400 |
| 11207 | Broadcom, Inc. | 3878744 |
| 22874 | Cisco Systems, Inc. | 1761984 |
| 3209 | Crowdstrike Holdings, Inc., Class A<sup>(a)</sup> | 1504251 |
| 275 | Fair Isaac Corporation<sup>(a)</sup> | 464921 |
| 765 | Gartner, Inc.<sup>(a)</sup> | 192994 |
| 2596 | Intuit, Inc. | 1719642 |
| 807 | Jack Henry & Associates, Inc. | 147261 |
| 3085 | Mastercard, Inc., Class A | 1761164 |

---

---

| |
|:---|
| **NAA ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 79.1% (Continued)** |  |
|  | **Technology - 29.1% (Continued)** |  |
| 7696 | Micron Technology, Inc. | $2196515 |
| 18977 | Microsoft Corporation | 9177658 |
| 60060 | NVIDIA Corporation | 11201191 |
| 9797 | Oracle Corporation | 1909533 |
| 8441 | Palo Alto Networks, Inc.<sup>(a)</sup> | 1554832 |
| 554 | Paycom Software, Inc. | 88285 |
| 11011 | PayPal Holdings, Inc. | 642822 |
| 9989 | QUALCOMM, Inc. | 1708618 |
| 3347 | S&P Global, Inc. | 1749109 |
| 6665 | Salesforce, Inc. | 1765625 |
| 500 | Tyler Technologies, Inc.<sup>(a)</sup> | 226975 |
|  |  | 55160573 |
|  | **Utilities - 2.0%** |  |
| 2162 | American Water Works Company, Inc. | 282141 |
| 3825 | Constellation Energy Corporation | 1351257 |
| 8909 | Duke Energy Corporation | 1044224 |
| 11669 | Exelon Corporation | 508652 |
| 6105 | FirstEnergy Corporation | 273321 |
| 8496 | PPL Corporation | 297530 |
|  |  | 3757125 |
|  | **TOTAL COMMON STOCKS (Cost $121,266,579)** | 149862468 |
|  | **EXCHANGE-TRADED FUNDS — 2.5%** |  |
|  | **Equity - 0.3%** |  |
| 764 | SPDR S&P 500 ETF | 520987 |
|  | **Fixed Income - 2.2%** |  |
| 51707 | iShares iBoxx $ High Yield Corporate Bond ETF | 4169135 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $4,682,717)** | 4690122 |

---

---

| |
|:---|
| **NAA ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2025** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal <br> Amount ($)** |  | **Coupon Rate <br> (%)** | **Maturity** | **Fair Value** |
|  | **CONVERTIBLE BONDS — 0.5%** |  |  |  |
|  | **REAL ESTATE — 0.5%** |  |  |  |
| 1000000 | Marriott Vacations Worldwide Corp | 4.7500 | &nbsp;&nbsp;01/15/28 | $985029 |
|  | **TOTAL CONVERTIBLE BONDS (Cost $977,806)** |  |  |  |
|  | **CORPORATE BONDS — 17.4%** |  |  |  |
|  | **COMMUNICATIONS — 2.1%** |  |  |  |
| 1000000 | Boyd Gaming Corporation | 4.7500 | &nbsp;&nbsp;12/01/27 | 998716 |
| 1000000 | CCO Holdings, LLC / CCO Holdings <sup>(b)</sup> | 4.5000 | &nbsp;&nbsp;06/01/33 | 875359 |
| 1000000 | Nexstar Broadcasting, Inc. <sup>(b)</sup> | 4.7500 | &nbsp;&nbsp;11/01/28 | 992850 |
| 1000000 | Telecom Italia Capital S.A. | 7.2000 | &nbsp;&nbsp;07/18/36 | 1084456 |
|  |  |  |  | 3951381 |
|  | **CONSUMER DISCRETIONARY — 3.7%** |  |  |  |
| 1000000 | Builders FirstSource, Inc.<sup>(b)</sup> | 6.3750 | &nbsp;&nbsp;03/01/34 | 1034293 |
| 1000000 | Caesars Entertainment, Inc.<sup>(b)</sup> | 7.0000 | &nbsp;&nbsp;02/15/30 | 1035658 |
| 1000000 | Light & Wonder International, Inc.<sup>(b)</sup> | 7.2500 | &nbsp;&nbsp;11/15/29 | 1027066 |
| 1000000 | Nissan Motor Acceptance Company, LLC<sup>(b)</sup> | 2.7500 | &nbsp;&nbsp;03/09/28 | 950162 |
| 1000000 | Papa John's International, Inc.<sup>(b)</sup> | 3.8750 | &nbsp;&nbsp;09/15/29 | 948450 |
| 1000000 | Six Flags Entertainment Corporation<sup>(b)</sup> | 7.2500 | &nbsp;&nbsp;05/15/31 | 959517 |
| 1000000 | Thor Industries, Inc.<sup>(b)</sup> | 4.0000 | &nbsp;&nbsp;10/15/29 | 963388 |
|  |  |  |  | 6918534 |
|  | **CONSUMER STAPLES — 1.0%** |  |  |  |
| 1000000 | Lamb Weston Holdings, Inc.<sup>(b)</sup> | 4.3750 | &nbsp;&nbsp;01/31/32 | 952665 |
| 1000000 | Performance Food Group Inc.<sup>(b)</sup> | 6.1250 | &nbsp;&nbsp;09/15/32 | 1030926 |
|  |  |  |  | 1983591 |
|  | **ENERGY — 2.6%** |  |  |  |
| 1000000 | California Resources Corporation<sup>(b)</sup> | 8.2500 | &nbsp;&nbsp;06/15/29 | 1045981 |
| 1000000 | Matador Resources Company<sup>(b)</sup> | 6.8750 | &nbsp;&nbsp;04/15/28 | 1022280 |
| 1000000 | Occidental Petroleum Corporation Series B | 3.2000 | &nbsp;&nbsp;08/15/26 | 991703 |
| 1000000 | Valaris Ltd. <sup>(b)</sup> | 8.3750 | &nbsp;&nbsp;04/30/30 | 1040373 |
| 1000000 | Valvoline, Inc.<sup>(b)</sup> | 3.6250 | &nbsp;&nbsp;06/15/31 | 918758 |
|  |  |  |  | 5019095 |

---

---

| |
|:---|
| **NAA ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2025** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal <br> Amount ($)** |  | **Coupon Rate <br> (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 17.4% (Continued)** |  |  |  |
|  | **FINANCIALS — 0.6%** |  |  |  |
| 1000000 | Starwood Property Trust, Inc.<sup>(b)</sup> | 7.2500 | &nbsp;&nbsp;04/01/29 | $1056103 |
|  | **HEALTH CARE — 1.6%** |  |  |  |
| 1000000 | Encompass Health Corporation | 4.6250 | &nbsp;&nbsp;04/01/31 | 979349 |
| 1000000 | Perrigo Finance Unlimited Company | 6.1250 | &nbsp;&nbsp;09/30/32 | 974255 |
| 1000000 | TELEFLEX INC Series B<sup>(b)</sup> | 4.2500 | &nbsp;&nbsp;06/01/28 | 986535 |
|  |  |  |  | 2940139 |
|  | **INDUSTRIALS — 2.1%** |  |  |  |
| 1000000 | Aramark Services, Inc.<sup>(b)</sup> | 5.0000 | &nbsp;&nbsp;02/01/28 | 999863 |
| 1000000 | Atkore, Inc. <sup>(b)</sup> | 4.2500 | &nbsp;&nbsp;06/01/31 | 959917 |
| 1000000 | Chart Industries, Inc.<sup>(b)</sup> | 9.5000 | &nbsp;&nbsp;01/01/31 | 1061467 |
| 1000000 | Dycom Industries, Inc.<sup>(b)</sup> | 4.5000 | &nbsp;&nbsp;04/15/29 | 987799 |
|  |  |  |  | 4009046 |
|  | **MATERIALS — 0.5%** |  |  |  |
| 1000000 | Advanced Drainage Systems, Inc.<sup>(b)</sup> | 6.3750 | &nbsp;&nbsp;06/15/30 | 1022551 |
|  | **REAL ESTATE — 1.0%** |  |  |  |
| 1000000 | Iron Mountain Information Management Services, Inc.<sup>(b)</sup> | 5.0000 | &nbsp;&nbsp;07/15/32 | 954665 |
| 1000000 | SBA Communications Corp. | 3.8750 | &nbsp;&nbsp;02/15/27 | 992503 |
|  |  |  |  | 1947168 |
|  | **TECHNOLOGY — 1.1%** |  |  |  |
| 1000000 | OPEN TEXT HLDGS INC SR GLBL 144A 30<sup>(b)</sup> | 4.1250 | &nbsp;&nbsp;02/15/30 | 955821 |
| 1000000 | Sealed Air Corporation<sup>(b)</sup> | 6.8750 | &nbsp;&nbsp;07/15/33 | 1053214 |
|  |  |  |  | 2009035 |
|  | **UTILITES — 1.1%** |  |  |  |
| 1000000 | NRG Energy, Inc. <sup>(b)</sup> | 6.2500 | &nbsp;&nbsp;11/01/34 | 1026901 |
| 1000000 | Vistra Operations Company, LLC <sup>(b)</sup> | 7.7500 | &nbsp;&nbsp;10/15/31 | 1059177 |
|  |  |  |  | 2086078 |
|  | **TOTAL CORPORATE BONDS (Cost $32,292,371)** |  |  | 32942721 |
|  | **TOTAL INVESTMENTS - 99.5% (Cost $159,219,473)** |  |  | $188480340 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.5%** |  |  | 1020516 |
|  | **NET ASSETS - 100.0%** |  |  | $189500856 |

---

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of December 31, 2025 the total market value of 144A securities is 26,921,739 or 14.2% of net assets.

## 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 Funds Trust

- **b. Investment Company Act file number:** 811-23945

- **c. CIK number of Registrant:** 0002013853

- **d. LEI of Registrant:** 529900860B9CQ8SDNS27

- **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 ALLOCATION FUND

- **b. EDGAR series identifier (if any):** S000087625

- **c. LEI of Series:** 529900YIYRH0BRFKR560

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $189982936.65

**Total Liabilities:** $482080.31

**Net Assets:** $189500856.34

**Cash Not Reported:** $1136.14

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000253469 | 2.23%                | 0.48%                | -0.17%               |
| Class ID C000253470 | 2.26%                | 0.58%                | -0.05%               |
| Class ID C000253471 | 2.28%                | 0.61%                | -0.07%               |
| Class ID C000253472 | 2.24%                | 0.59%                | -0.11%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $51674.55                | $4259278.97                                |
| Month 2  | $27796.18                | $952546.62                                 |
| Month 3  | $3919725.00              | $-4240723.25                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AT&T Inc                                         | AT&T, Inc.                                                 | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     84192 | NS      | $2091329.28   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Drainage System Inc                     | Advanced Drainage Systems, Inc. 6.375%, Due 06/15/2030     | CUSIP: 00790RAB0<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1022551.00   | 0.54%             | 2030-06-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| The Allstate Corporation                         | Allstate Corporation (The)                                 | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |      2938 | NS      | $611544.70    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                                    | Alphabet, Inc. Class C                                     | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     15334 | NS      | $4811809.20   | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                                    | Alphabet, Inc. Class A                                     | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      7316 | NS      | $2289908.00   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                                 | Amazon.com, Inc.                                           | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     24650 | NS      | $5689713.00   | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Company                         | American Express Company                                   | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      4595 | NS      | $1699920.25   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corporation                       | American Tower Corporation                                 | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |      5473 | NS      | $960894.61    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Works Company, Inc.               | American Water Works Company, Inc.                         | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |      2162 | NS      | $282141.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                                       | Amgen, Inc.                                                | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      5247 | NS      | $1717395.57   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corporation                             | Amphenol Corporation Class A                               | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     13516 | NS      | $1826552.24   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                       | Apple, Inc.                                                | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     37994 | NS      | $10329048.84  | 5.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Aramark Services, Inc.                           | Aramark Services, Inc. 5.00%, Due 02/01/2028               | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999863.10    | 0.53%             | 2028-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Atkore Inc                                       | Atkore, Inc. 4.25%, Due 06/01/2031                         | CUSIP: 047649AA6<br>LEI: 52990002TI38AM4RPV48 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $959917.00    | 0.51%             | 2031-06-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Automatic Data Processing, Inc.                  | Automatic Data Processing, Inc.                            | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      4585 | NS      | $1179399.55   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Company                             | Baker Hughes Company Class A                               | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12116 | NS      | $551762.64    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                            | Bank of America Corporation                                | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     31997 | NS      | $1759835.00   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc.                          | Berkshire Hathaway, Inc. Class B                           | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      4686 | NS      | $2355417.90   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                             | Booking Holdings, Inc.                                     | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       320 | NS      | $1713705.60   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Boyd Gaming Corporation                          | Boyd Gaming Corporation 4.75%, DUE 12/01/2027              | CUSIP: 103304BU4<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998716.40    | 0.53%             | 2027-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                     | Broadcom, Inc.                                             | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     11207 | NS      | $3878742.70   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders Firstsource, Inc.                       | Builders FirstSource, Inc. 6.375%, Due 03/01/2034          | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1034292.88   | 0.55%             | 2034-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings, LLC/ CCO Holdings Capital Corp.    | CCO Holdings, LLC / CCO Holdings Capital Corporation       | CUSIP: 1248EPCL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $875358.56    | 0.46%             | 2033-06-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| CBRE Group Inc.                                  | CBRE Group, Inc.                                           | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |      3339 | NS      | $536877.81    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Caesars Entertainment Inc.                       | Caesars Entertainment, Inc. 7%, Due 02/15/2030             | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1035656.97   | 0.55%             | 2030-02-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| California Resources Corporation                 | California Resources Corporation 8.25%, Due 06/15/2029     | CUSIP: 13057QAK3<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1045980.75   | 0.55%             | 2029-06-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Caterpillar Inc                                  | Caterpillar, Inc.                                          | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      3093 | NS      | $1771886.91   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc                             | Chart Industries, Inc. 9.5%, Due 01/01/2031                | CUSIP: 16115QAG5<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1061467.00   | 0.56%             | 2031-01-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Chipotle Mexican Grill Inc                       | Chipotle Mexican Grill, Inc.                               | CUSIP: 169656105<br>LEI: 529900REP5VGTPCP1J71 | Long             | EC               | CORP              | US        |     14090 | NS      | $521330.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                              | Cisco Systems, Inc.                                        | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     22874 | NS      | $1761984.22   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corporation                               | Cintas Corporation                                         | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3903 | NS      | $734037.21    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                                   | Citigroup, Inc.                                            | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     15487 | NS      | $1807178.03   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co (The)                               | Coca-Cola Company (The)                                    | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     24545 | NS      | $1715940.95   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp.                       | Constellation Energy Corporation                           | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |      3825 | NS      | $1351257.75   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| The Cooper Companies, Inc.                       | Cooper Companies, Inc. (The)                               | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |      2207 | NS      | $180885.72    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc                         | Crowdstrike Holdings, Inc.                                 | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      3209 | NS      | $1504250.84   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| D.R. Horton, Inc.                                | DR Horton, Inc.                                            | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |      3148 | NS      | $453406.44    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc.                             | Delta Air Lines, Inc.                                      | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |      7305 | NS      | $506967.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc                           | Diamondback Energy, Inc.                                   | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |      2225 | NS      | $334484.25    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                                 | Duke Energy Corporation                                    | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |      8909 | NS      | $1044223.89   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries, Inc.                           | Dycom Industries, Inc. 4.5%, Due 04/15/2029                | CUSIP: 267475AD3<br>LEI: 549300F56EKTHQI3WT60 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $987799.28    | 0.52%             | 2029-04-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Ecolab Inc.                                      | Ecolab, Inc.                                               | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |      2867 | NS      | $752644.84    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corporation                     | Encompass Health Corporation 4.625%, Due 04/01/2031        | CUSIP: 29261AAE0<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $979349.40    | 0.52%             | 2031-04-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Exelon Corp.                                     | Exelon Corporation                                         | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |     11669 | NS      | $508651.71    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                                | Exxon Mobil Corporation                                    | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     14887 | NS      | $1791501.58   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                               | Meta Platforms, Inc. Class A                               | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      5363 | NS      | $3540062.67   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corporation                           | Fair Isaac Corporation                                     | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |       275 | NS      | $464920.50    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co.                                     | Fastenal Company                                           | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |     12898 | NS      | $517596.74    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc                                  | First Solar, Inc.                                          | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |      1251 | NS      | $326798.73    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp.                                | FirstEnergy Corporation                                    | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |      6105 | NS      | $273320.85    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Gallagher Aj &Co                                 | Arthur J Gallagher & Company                               | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |      2862 | NS      | $740656.98    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Gartner Inc.                                     | Gartner, Inc.                                              | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |       765 | NS      | $192994.20    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Aerospace                                     | General Electric Company                                   | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |      5948 | NS      | $1832162.44   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Company                           | General Motors Company                                     | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |     10417 | NS      | $847110.44    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc.                             | Gilead Sciences, Inc.                                      | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     14223 | NS      | $1745731.02   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.                        | Goldman Sachs Group, Inc. (The)                            | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      1985 | NS      | $1744815.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| W.w. Grainger Inc.                               | WW Grainger, Inc.                                          | CUSIP: 384802104<br>LEI: 549300TWZSP6O1IH2V34 | Long             | EC               | CORP              | US        |       479 | NS      | $483334.95    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| The Hartford Insurance Group Inc.                | Hartford Insurance Group, Inc. (The)                       | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |      3050 | NS      | $420290.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Jack & Associates Inc.                     | Jack Henry & Associates, Inc.                              | CUSIP: 426281101<br>LEI: 529900X1QS8C54W0JB21 | Long             | EC               | CORP              | US        |       807 | NS      | $147261.36    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings Inc                    | Hilton Worldwide Holdings, Inc.                            | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |      2496 | NS      | $716976.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc.                     | Honeywell International, Inc.                              | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |      7030 | NS      | $1371482.70   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Host Hotels & Resorts Inc                        | Host Hotels & Resorts, Inc. REIT                           | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |      6999 | NS      | $124092.27    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Ingalls Industries, Inc.              | Huntington Ingalls Industries, Inc.                        | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | EC               | CORP              | US        |       446 | NS      | $151671.22    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc.                          | IDEXX Laboratories, Inc.                                   | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |       932 | NS      | $630525.96    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Insulet Corporation                              | Insulet Corporation                                        | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |       832 | NS      | $236487.68    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                                       | Intuit, Inc.                                               | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      2596 | NS      | $1719642.32   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc.                               | Iron Mountain, Inc.                                        | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |      3700 | NS      | $306915.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Information Management Servces Inc | Iron Mountain Information Management Services, Inc.        | CUSIP: 46285MAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $954664.98    | 0.50%             | 2032-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| iShares Trust                                    | iShares iBoxx $ High Yield Corporate Bond ETF              | CUSIP: 464288513<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     51707 | NS      | $4169135.41   | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                             | JPMorgan Chase & Company                                   | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      7115 | NS      | $2292595.30   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc                             | Keurig Dr Pepper, Inc.                                     | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |     16371 | NS      | $458551.71    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamb Weston Holdings Inc                         | Lamb Weston Holdings, Inc. 4.375%, Due 01/31/2032          | CUSIP: 513272AE4<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $952665.30    | 0.50%             | 2032-01-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Lennar Corp.                                     | Lennar Corporation Class A                                 | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |      2630 | NS      | $270364.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co.                                  | Eli Lilly & Company                                        | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      1684 | NS      | $1809761.12   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Lululemon Athletica Inc.                         | Lululemon Athletica, Inc.                                  | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | CA        |      1105 | NS      | $229630.05    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott Ownership Resorts Inc                   | Marriott Vacations Worldwide Corp 4.750%, Due 01/15/2028   | CUSIP: 57164PAF3<br>LEI: BW4532OH033VURR0IT68 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $985028.67    | 0.52%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                     | Marriott International Inc Class A                         | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |      2373 | NS      | $736199.52    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MasterCard Incorporated                          | Mastercard, Inc. Class A                                   | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      3085 | NS      | $1761164.80   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Company                        | Matador Resources Company 6.875%, Due 04/15/2028           | CUSIP: 576485AF3<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1022280.00   | 0.54%             | 2028-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Merck & Co., Inc                                 | Merck & Company, Inc.                                      | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     17450 | NS      | $1836787.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                                  | Microsoft Corporation                                      | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     18977 | NS      | $9177656.74   | 4.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc.                           | Micron Technology, Inc.                                    | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      7696 | NS      | $2196515.36   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                   | Morgan Stanley                                             | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      9883 | NS      | $1754528.99   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy, Inc.                                 | NRG Energy, Inc. 6.25%, Due 11/01/2034                     | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1026901.00   | 0.54%             | 2034-11-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Newmont Corporation                              | Newmont Corporation                                        | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     11949 | NS      | $1193107.65   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Inc.                               | Nexstar Broadcasting, Inc 4.750% Due 11/01/2028            | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $992850.30    | 0.52%             | 2028-11-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                   | Nissan Motor Acceptance Company, LLC 2.75%, Due 03/09/2028 | CUSIP: 654740BT5<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $950161.80    | 0.50%             | 2028-03-09      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| NVIDIA Corp.                                     | NVIDIA Corporation                                         | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     60060 | NS      | $11201190.00  | 5.91%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc.                         | O'Reilly Automotive, Inc.                                  | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |      9993 | NS      | $911461.53    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp.                       | Occidental Petroleum Corporation 3.20% Due 08/15/2026      | CUSIP: 674599CR4<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $991703.18    | 0.52%             | 2026-08-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Open Text Holdings Inc                           | OPEN TEXT HLDGS INC SR GLBL 144A 30                        | CUSIP: 683720AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $955821.34    | 0.50%             | 2030-02-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Oracle Corp.                                     | Oracle Corporation                                         | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      9797 | NS      | $1909533.27   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corporation                                  | PPL Corporation                                            | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |      8496 | NS      | $297529.92    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc                           | Palo Alto Networks, Inc.                                   | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      8441 | NS      | $1554832.20   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Papa John's International Inc.                   | Papa Johns International 3.8750%, Due 09/15/2029           | CUSIP: 698813AA0<br>LEI: HZYLD3DK5XOX0WBVNB56 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $948449.89    | 0.50%             | 2029-09-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Parker-Hannifin Corp.                            | Parker-Hannifin Corporation                                | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |      1472 | NS      | $1293829.12   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Paycom Software Inc                              | Paycom Software, Inc.                                      | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |       554 | NS      | $88285.44     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Paypal Holdings Inc.                             | PayPal Holdings, Inc.                                      | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     11011 | NS      | $642822.18    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico Inc                                      | PepsiCo, Inc.                                              | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     11494 | NS      | $1649618.88   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group Inc                       | Performance Food Group Inc 6.125%, Due 09/15/2032          | CUSIP: 71376LAF7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1030926.00   | 0.54%             | 2032-09-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Perrigo Finance Unlimited Co.                    | Perrigo Finance Unlimited Company 6.125%, Due 09/30/2032   | CUSIP: 71429MAD7<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |   1000000 | PA      | $974255.30    | 0.51%             | 2032-09-30      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Phillips 66                                      | Phillips 66                                                | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |      4972 | NS      | $641586.88    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| The Procter & Gamble Co.                         | Procter & Gamble Company (The)                             | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     11767 | NS      | $1686328.77   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Pulte Group Inc                                  | PulteGroup, Inc.                                           | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2284 | NS      | $267821.84    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc.                                    | QUALCOMM, Inc.                                             | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      9989 | NS      | $1708618.45   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corporation                        | Realty Income Corporation REIT                             | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |     10600 | NS      | $597522.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services, Inc.                          | Republic Services, Inc.                                    | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |      2298 | NS      | $487015.14    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                                   | S&P Global, Inc.                                           | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      3347 | NS      | $1749108.73   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp.                         | SBA COMMUNICATIONS CORP 3.875%, Due 02/15/2027             | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $992503.00    | 0.52%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| State Street Spdr S and P 500 Etf Trust          | SPDR S&P 500 ETF Trust                                     | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             | EC               | RF                | US        |       764 | NS      | $520986.88    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc.                                  | Salesforce, Inc.                                           | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      6665 | NS      | $1765625.15   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB Ltd.                                         | Schlumberger N.V.                                          | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |     17302 | NS      | $664050.76    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Light & Wonder International Inc.                | Light & Wonder International, Inc. 7.25%, Due 11/15/2029   | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1027066.24   | 0.54%             | 2029-11-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Sealed Air Corp.                                 | Sealed Air Corporation 6.875%, Due 07/15/2033              | CUSIP: 81211KAK6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1053213.89   | 0.56%             | 2033-07-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| The Sherwin-Williams Company                     | Sherwin-Williams Company (The)                             | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |      2632 | NS      | $852846.96    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                         | Simon Property Group, Inc. REIT                            | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |      3740 | NS      | $692311.40    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Six Flags Entertainment Corp.                    | Six Flags Entertainment Corporation 7.25%, Due 05/15/2031  | CUSIP: 83001AAD4<br>LEI: 529900AS2CYWYFHRS781 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $959517.39    | 0.51%             | 2031-05-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Southwest Airlines Co.                           | Southwest Airlines Company                                 | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |      5622 | NS      | $232357.26    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Starwood Property Trust, Inc.                    | Starwood Property Trust, Inc. 7.25%, Due 04/01/2029        | CUSIP: 85571BBB0<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1056103.00   | 0.56%             | 2029-04-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Stryker Corporation                              | Stryker Corporation                                        | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |      3968 | NS      | $1394632.96   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                                  | T-Mobile US, Inc.                                          | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      6736 | NS      | $1367677.44   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Telecom Italia Capital S.A.                      | Telecom Italia Capital S.A. 7.2%, Due 07/18/2036           | CUSIP: 87927VAR9<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |   1000000 | PA      | $1084455.70   | 0.57%             | 2036-07-18      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| Teleflex Incorporated                            | TELEFLEX INC 4.25% Due 06/01/2028                          | CUSIP: 879369AG1<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $986534.70    | 0.52%             | 2028-06-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Tesla Inc                                        | Tesla, Inc.                                                | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      7271 | NS      | $3269914.12   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Thor Industries Inc.                             | Thor Industries, Inc. 4.000%, Due 10/15/2029               | CUSIP: 885160AA9<br>LEI: 254900XZO1228PDSG060 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $963387.70    | 0.51%             | 2029-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Tyler Technologies Inc.                          | Tyler Technologies, Inc.                                   | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |       500 | NS      | $226975.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc                            | Uber Technologies, Inc.                                    | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     21659 | NS      | $1769756.89   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals, Inc.                             | United Rentals, Inc.                                       | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |       741 | NS      | $599706.12    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.                          | UnitedHealth Group, Inc.                                   | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      5231 | NS      | $1726805.41   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Valaris Ltd.                                     | Valaris Ltd. 8.375%, Due 04/30/2030                        | CUSIP: 91889FAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1040373.00   | 0.55%             | 2030-04-30      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Valvoline Inc                                    | Valvoline, Inc. 3.625%, Due 06/15/2031                     | CUSIP: 92047WAG6<br>LEI: 549300CMHPBEY6VPOT75 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $918757.90    | 0.48%             | 2031-06-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Vertex Pharmaceuticals Incorporated              | Vertex Pharmaceuticals, Inc.                               | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      2875 | NS      | $1303410.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Operations Co LLC                         | Vistra Operations Company, LLC 7.75%, Due 10/15/2031       | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1059177.18   | 0.56%             | 2031-10-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Vulcan Materials Company                         | Vulcan Materials Company                                   | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |      1568 | NS      | $447224.96    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                                      | Walmart, Inc.                                              | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     15133 | NS      | $1685967.53   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc.                                      | Zoetis, Inc.                                               | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |      4890 | NS      | $615259.80    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                              | BBH Overnight Sweep                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | CORP              | US        |    719830 | PA      | $719829.62    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd.                                       | Chubb Ltd.                                                 | CUSIP: H1467J104<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |      4109 | NS      | $1282501.08   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-26

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

**Signature:** Keith D. Kemp

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

**Title:** President