# EDGAR Filing Document

**Accession Number:** 0000945908
**File Stem:** 0000035402-25-000766
**Filing Date:** 2025-9
**Character Count:** 45470
**Document Hash:** f807cad90ebeb8e7d50fc7e80f75f10e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000035402-25-000766.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0000035402-25-000766

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY COVINGTON TRUST
- **CENTRAL INDEX KEY:** 0000945908

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07319
- **FILM NUMBER:** 251349305

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

## Series and Classes Contracts Data

### Fidelity Low Volatility Factor ETF (Series ID: S000054751)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000171932 | Fidelity Low Volatility Factor ETF | FDLO            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Fidelity Covington Trust

- **b. Investment Company Act file number:** 811-07319

- **c. CIK number of Registrant:** 0000945908

- **d. LEI of Registrant:** 549300JFYFTF85QAQR28

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

  - **Street Address 1:** 245 Summer Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 1-800-FIDELITY

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

- **a. Name of Series:** Fidelity Low Volatility Factor ETF

- **b. EDGAR series identifier (if any):** S000054751

- **c. LEI of Series:** 549300SJIYJWE5X2BI06

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-07-31

**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:** $1239544986.45

**Total Liabilities:** $3664123.90

**Net Assets:** $1235880862.55

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000171932 | 2.76%                | 2.96%                | 0.51%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1866197.34              | $28545545.33                               |
| Month 2  | $-257182.16              | $33585334.37                               |
| Month 3  | $48.41                   | $4766606.94                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| DIGITAL REALTY TRUST INC         | DIGITAL REALTY TRUST INC                      | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     14882 | NS      | $2625780.08   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY CORP NEW             | DUKE ENERGY CORP NEW                          | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |     41740 | NS      | $5077253.60   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUINIX INC                      | EQUINIX INC                                   | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      3537 | NS      | $2777146.29   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| WASTE MANAGEMENT INC DEL         | WASTE MANAGEMENT INC                          | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |     30458 | NS      | $6979755.28   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| THERMO FISHER SCIENTIFIC INC     | THERMO FISHER SCIENTIFIC INC                  | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     18115 | NS      | $8472023.20   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCTER and GAMBLE CO            | PROCTER and GAMBLE CO                         | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     66739 | NS      | $10042217.33  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| XCEL ENERGY INC                  | XCEL ENERGY INC                               | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |     54412 | NS      | $3996017.28   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| AT and T INC                     | AT and T INC                                  | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    479703 | NS      | $13148659.23  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AMGEN INC                        | AMGEN INC                                     | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     30255 | NS      | $8928250.50   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC                       | ABBVIE INC                                    | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     68066 | NS      | $12865835.32  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC                        | APPLE INC                                     | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    374702 | NS      | $77776894.14  | 6.29%             |  |  |  | No            |                  1 | On Loan: No      |
| FOX CORPORATION                  | FOX CORP CL A                                 | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |    153281 | NS      | $8546948.56   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| ANALOG DEVICES INC               | ANALOG DEVICES INC                            | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     64752 | NS      | $14545241.76  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE US INC                  | T-MOBILE US INC                               | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |     43314 | NS      | $10326490.74  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM INC                   | AMAZON.COM INC                                | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    225515 | NS      | $52795316.65  | 4.27%             |  |  |  | No            |                  1 | On Loan: No      |
| CONOCOPHILLIPS INC               | CONOCOPHILLIPS                                | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     48386 | NS      | $4613121.24   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN COMPANY                 | SOUTHERN CO                                   | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |     57680 | NS      | $5449606.40   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORP                   | MICROSOFT CORP                                | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    187744 | NS      | $100161424.00 | 8.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PROGRESSIVE CORP OHIO            | PROGRESSIVE CORP OHIO                         | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |     38137 | NS      | $9230679.48   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCENTURE PLC                    | ACCENTURE PLC CL A                            | CUSIP: N/A<br>LEI: 5493000EWHDSR3MZWH98       | Long             | EC               | CORP              | IE        |     41948 | NS      | $11204310.80  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC                         | VISA INC CL A                                 | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     55438 | NS      | $19152165.86  | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOZONE INC                     | AUTOZONE INC                                  | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |      1977 | NS      | $7450087.26   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| KIMBERLY-CLARK CORP              | KIMBERLY CLARK CORP                           | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |     28057 | NS      | $3496463.34   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS INC    | REGENERON PHARMACEUTICALS INC                 | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |     10285 | NS      | $5610056.10   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| CME GROUP INC                    | CME GROUP INC CL A                            | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |     34052 | NS      | $9475990.56   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| CHUBB LTD                        | CHUBB LTD                                     | CUSIP: N/A<br>LEI: E0JAN6VLUDI1HITHT809       | Long             | EC               | CORP              | CH        |     31365 | NS      | $8344344.60   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| HONEYWELL INTERNATIONAL INC      | HONEYWELL INTL INC                            | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     36850 | NS      | $8193597.50   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| OTIS WORLDWIDE CORP              | OTIS WORLDWIDE CORP                           | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |     62297 | NS      | $5338229.93   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| FTI CONSULTING INC               | FTI CONSULTING INC                            | CUSIP: 302941109<br>LEI: 549300K17GM8EQD0FQ48 | Long             | EC               | CORP              | US        |     26822 | NS      | $4461839.70   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL DYNAMICS CORP            | GENERAL DYNAMICS CORPORATION                  | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |     25196 | NS      | $7851325.56   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| ELECTRONIC ARTS INC              | ELECTRONIC ARTS INC                           | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |     66098 | NS      | $10079284.02  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK and CO INC                 | MERCK and CO INC NEW                          | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    118616 | NS      | $9266281.92   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE                   | PUBLIC STORAGE                                | CUSIP: 74460D109<br>LEI: 549300LMZF40TKJ6DM64 | Long             | EC               | CORP              | US        |      7912 | NS      | $2151589.28   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL MILLS INC                | GENERAL MILLS INC                             | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |     57261 | NS      | $2804643.78   | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| LOWES COS INC                    | LOWES COS INC                                 | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |     33913 | NS      | $7581929.41   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOMATIC DATA PROCESSING INC    | AUTOMATIC DATA PROCESSING INC                 | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |     25257 | NS      | $7817041.50   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| AMCOR PLC                        | AMCOR PLC                                     | CUSIP: N/A<br>LEI: 549300GSODGFCDQ3DI89       | Long             | EC               | CORP              | JE        |    180224 | NS      | $1685094.40   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORP                      | ORACLE CORP                                   | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |    100709 | NS      | $25556922.93  | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AIR PRODUCTS and CHEMICALS INC   | AIR PRODUCTS and CHEMICALS INC                | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |      9366 | NS      | $2696284.08   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| VULCAN MATERIALS CO              | VULCAN MATERIALS CO                           | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |      8401 | NS      | $2307502.67   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| UNION PACIFIC CORP               | UNION PACIFIC CORP                            | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     33835 | NS      | $7510354.95   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| TYLER TECHNOLOGIES INC           | TYLER TECHNOLOGIES INC                        | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |     19329 | NS      | $11298960.24  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| AVERY DENNISON CORP              | AVERY DENNISON CORP                           | CUSIP: 053611109<br>LEI: 549300PW7VPFCYKLIV37 | Long             | EC               | CORP              | US        |      9984 | NS      | $1675015.68   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| HOME DEPOT INC                   | HOME DEPOT INC                                | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     34960 | NS      | $12848149.60  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| FASTENAL CO                      | FASTENAL CO                                   | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |    162749 | NS      | $7507611.37   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| COLGATE-PALMOLIVE CO             | COLGATE-PALMOLIVE CO                          | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     48752 | NS      | $4087855.20   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSOLIDATED EDISON INC          | CONSOLIDATED EDISON INC                       | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |     37161 | NS      | $3846163.50   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| STARBUCKS CORP                   | STARBUCKS CORP                                | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |     74360 | NS      | $6629937.60   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX COMPANIES INC                | TJX COMPANIES INC NEW                         | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     68964 | NS      | $8588086.92   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| MARSH and MCLENNAN COS INC       | MARSH and MCLENNAN COS INC                    | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |     38752 | NS      | $7719398.40   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| CORTEVA INC                      | CORTEVA INC                                   | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |     38689 | NS      | $2790637.57   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| AMEREN CORP                      | AMEREN CORP                                   | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |     35314 | NS      | $3571304.82   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| WALMART INC                      | WALMART INC                                   | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |    119914 | NS      | $11749173.72  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS ENERGY CORP                  | CMS ENERGY CORP                               | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |     48988 | NS      | $3615314.40   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| MONDELEZ INTERNATIONAL INC       | MONDELEZ INTL INC                             | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |     75797 | NS      | $4903307.93   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| EATON CORP PLC                   | EATON CORP PLC                                | CUSIP: N/A<br>LEI: 549300VDIGTMXUNT7H71       | Long             | EC               | CORP              | IE        |     24622 | NS      | $9472575.84   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE INC                         | NIKE INC CL B                                 | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |    100820 | NS      | $7530245.80   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| GALLAGHER (ARTHUR J.) and CO     | ARTHUR J GALLAGHAR AND CO                     | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |     25464 | NS      | $7314534.00   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| OREILLY AUTOMOTIVE INC           | O'REILLY AUTOMOTIVE INC                       | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |     81016 | NS      | $7965493.12   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| ROPER TECHNOLOGIES INC           | ROPER TECHNOLOGIES INC                        | CUSIP: 776696106<br>LEI: 549300LJXD867XMVE759 | Long             | EC               | CORP              | US        |     21816 | NS      | $12007526.40  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKLEY WR CORP                  | BERKLEY (WR) CORP                             | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |    110859 | NS      | $7628207.79   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| L3HARRIS TECHNOLOGIES INC        | L3HARRIS TECHNOLOGIES INC                     | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |     28379 | NS      | $7799116.78   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| FISERV INC                       | FISERV INC                                    | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     39935 | NS      | $5548568.90   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY and CO                 | ELI LILLY and CO                              | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     23809 | NS      | $17620326.63  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| APTARGROUP INC                   | APTARGROUP INC                                | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |     11056 | NS      | $1737339.84   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| VERISK ANALYTICS INC             | VERISK ANALYTICS INC                          | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |     20448 | NS      | $5699062.08   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| COCA COLA CO                     | COCA COLA CO                                  | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    126325 | NS      | $8576204.25   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBOTT LABORATORIES              | ABBOTT LABORATORIES                           | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     80903 | NS      | $10209149.57  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| HERSHEY CO                       | HERSHEY CO (THE)                              | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |     21669 | NS      | $4033250.97   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                     | BROADCOM INC                                  | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |    149582 | NS      | $43932233.40  | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| CROWN CASTLE INC                 | CROWN CASTLE INC                              | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |     24552 | NS      | $2580169.68   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| VERISIGN INC                     | VERISIGN INC                                  | CUSIP: 92343E102<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | EC               | CORP              | US        |     53112 | NS      | $14280223.44  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| WILLIAMS COS INC                 | WILLIAMS COMPANIES INC                        | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     62414 | NS      | $3741719.30   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| FACTSET RESEARCH SYSTEMS INC     | FACTSET RESEARCH SYSTEMS INC                  | CUSIP: 303075105<br>LEI: 549300ZSJE7NBK6K9P30 | Long             | EC               | CORP              | US        |     14367 | NS      | $5788464.30   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| COMCAST CORP                     | COMCAST CORP CL A                             | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    316615 | NS      | $10521116.45  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS INSTRUMENTS INC.           | TEXAS INSTRUMENTS INC                         | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     82111 | NS      | $14867017.66  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| SHERWIN WILLIAMS CO              | SHERWIN WILLIAMS CO                           | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |      9175 | NS      | $3035824.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLINOIS TOOL WORKS INC          | ILLINOIS TOOL WORKS INC                       | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |     25760 | NS      | $6593787.20   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKSHIRE HATHAWAY INC DEL       | BERKSHIRE HATHAWAY INC CL B                   | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |     52932 | NS      | $24977552.16  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| KINDER MORGAN INC DEL            | KINDER MORGAN INC                             | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |    115983 | NS      | $3254482.98   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC       | VERIZON COMMUNICATIONS INC                    | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    288937 | NS      | $12354946.12  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILIP MORRIS INTERNATIONAL INC  | PHILIP MORRIS INTL INC                        | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     54120 | NS      | $8878386.00   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust     | Fidelity Cash Central Fund                    | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |   2187157 | NS      | $2187594.70   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| LOCKHEED MARTIN CORP             | LOCKHEED MARTIN CORP                          | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |     15831 | NS      | $6664534.38   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN HOMES 4 RENT            | AMERICAN HOMES 4 RENT                         | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |     45661 | NS      | $1583980.09   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| REALTY INCOME CORP               | REALTY INCOME CORP REIT                       | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |     43936 | NS      | $2466127.68   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| COSTAR GROUP INC                 | COSTAR GROUP INC                              | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |     26390 | NS      | $2512064.10   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| COTERRA ENERGY INC               | COTERRA ENERGY INC                            | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |     88920 | NS      | $2168758.80   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCH INC      | SP500 MIC EMIN FUTSEP25 HWAU5                 | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DE               | CORP              | US        |        96 | NC      | $93994.95     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CBOE GLOBAL MARKETS INC          | CBOE GLOBAL MARKETS INC                       | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |     32748 | NS      | $7893577.92   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| VERTEX PHARMACEUTICALS INC       | VERTEX PHARMACEUTICALS INC                    | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |     17315 | NS      | $7910704.05   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORP                 | EXXON MOBIL CORP                              | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    113458 | NS      | $12666451.12  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MCDONALDS CORP                   | MCDONALDS CORP                                | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     34854 | NS      | $10458639.78  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHROP GRUMMAN CORP            | NORTHROP GRUMMAN CORP                         | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |     13699 | NS      | $7898980.39   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEVRON CORP NEW                 | CHEVRON CORP                                  | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     49461 | NS      | $7500266.04   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOZ ALLEN HAMILTON HOLDING CORP | BOOZ ALLEN HAMILTON HLDG CL A                 | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |     41998 | NS      | $4507645.34   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC ENERGY GROUP INC             | WEC ENERGY GROUP INC                          | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |     35128 | NS      | $3831762.24   | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |
| PACKAGING CORP OF AMERICA        | PACKAGING CORP OF AMERICA                     | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |      9164 | NS      | $1775525.00   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BECTON DICKINSON and CO          | BECTON DICKINSON and CO                       | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |     29677 | NS      | $5289925.25   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| TRAVELERS COS INC                | TRAVELERS COMPANIES INC                       | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |     30676 | NS      | $7983122.24   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| IBM CORPORATION                  | INTL BUS MACH CORP                            | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     63000 | NS      | $15948450.00  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES INC                | EOG RESOURCES INC                             | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     28211 | NS      | $3385884.22   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| GARMIN LTD                       | GARMIN LTD                                    | CUSIP: N/A<br>LEI: 2549001E0HIPIJQ0W046       | Long             | EC               | CORP              | CH        |     28915 | NS      | $6325445.40   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITY LIFESTYLE PROPERTIES INC  | EQUITY LIFESTYLE PPTYS INC                    | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     24800 | NS      | $1486016.00   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| MOTOROLA SOLUTIONS INC           | MOTOROLA SOLUTIONS INC                        | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |     27176 | NS      | $11929720.48  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust     | Fidelity Securities Lending Cash Central Fund | CUSIP: 31635A303<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |   3498799 | NS      | $3499148.67   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ECOLAB INC                       | ECOLAB INC                                    | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |     11534 | NS      | $3019139.84   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSURANT INC                     | ASSURANT INC                                  | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |     30670 | NS      | $5744491.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE and CO            | JPMORGAN CHASE and CO                         | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     84188 | NS      | $24939853.12  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| AGREE REALTY CORP                | AGREE REALTY CORP                             | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20946 | NS      | $1501828.20   | 0.12%             |  |  |  | No            |                  1 | On Loan: —       |
| MASTERCARD INC                   | MASTERCARD INC CL A                           | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     28887 | NS      | $16363618.89  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYCHEX INC                      | PAYCHEX INC                                   | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |     40549 | NS      | $5852437.17   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| PEPSICO INC                      | PEPSICO INC                                   | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     48099 | NS      | $6633814.08   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC           | UNITEDHEALTH GROUP INC                        | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     30486 | NS      | $7608086.16   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| UST BILLS                        | UST BILLS 0% 08/21/2025                       | CUSIP: 912797PP6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    194000 | PA      | $193536.99    | 0.02%             | 2025-08-21      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP              | AMERICAN TOWER CORP                           | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     17351 | NS      | $3615774.89   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| HENRY (JACK) and ASSOCIATES      | HENRY (JACK) and ASSOCIATES INC               | CUSIP: 426281101<br>LEI: 529900X1QS8C54W0JB21 | Long             | EC               | CORP              | US        |     38328 | NS      | $6508669.32   | 0.53%             |  |  |  | No            |                  1 | On Loan: —       |
| AMDOCS LIMITED                   | AMDOCS LTD                                    | CUSIP: N/A<br>LEI: 549300HQV672RJ7RQV66       | Long             | EC               | CORP              | GG        |    131111 | NS      | $11191634.96  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON and JOHNSON              | JOHNSON and JOHNSON                           | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     89055 | NS      | $14670920.70  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| TRACTOR SUPPLY CO                | TRACTOR SUPPLY CO.                            | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Long             | EC               | CORP              | US        |    116048 | NS      | $6608933.60   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| CISCO SYSTEMS INC                | CISCO SYSTEMS INC                             | CUSIP: 17275R102<br>LEI: 8E6NF1YAL0WT6CWXXV93 | Long             | EC               | CORP              | US        |    267166 | NS      | $18188661.28  | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| PROLOGIS INC                     | PROLOGIS INC REIT                             | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     31454 | NS      | $3358658.12   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC SERVICES INC            | REPUBLIC SERVICES INC                         | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |     27356 | NS      | $6309661.40   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| LINDE PLC                        | LINDE PLC                                     | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | IE        |     13626 | NS      | $6271502.76   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| AVALONBAY COMMUNITIES INC        | AVALONBAY COMMUNITIES INC REIT                | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |      9145 | NS      | $1703530.60   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                     | ALPHABET INC CL A                             | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    271226 | NS      | $52048269.40  | 4.21%             |  |  |  | No            |                  1 | On Loan: No      |
| AKAMAI TECHNOLOGIES INC          | AKAMAI TECHNOLOGIES INC                       | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | EC               | CORP              | US        |    115626 | NS      | $8823420.06   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| DT MIDSTREAM INC                 | DT MIDSTREAM INC                              | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21991 | NS      | $2259135.43   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-30

**Name of Applicant:** Stacie M. Smith

**Signature:** Stacie M. Smith

**Name of Signer:** Stacie M. Smith

**Title:** President and Treasurer