# EDGAR Filing Document

**Accession Number:** 0001760588
**File Stem:** 0000910472-25-002529
**Filing Date:** 2025-10
**Character Count:** 100876
**Document Hash:** 37c4688ffbdb6fefba48ee45ce521ac0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-002529.hdr.sgml**: 20251029

**ACCESSION NUMBER**: 0000910472-25-002529

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251029

**DATE AS OF CHANGE**: 20251029

**PERIOD START**: 20251130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Zacks Trust
- **CENTRAL INDEX KEY:** 0001760588

**ORGANIZATION NAME:**
- **EIN:** 836534641
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23435
- **FILM NUMBER:** 251427604

**BUSINESS ADDRESS:**
- **STREET 1:** 227 WEST MONROE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 312-265-9359

**MAIL ADDRESS:**
- **STREET 1:** 227 WEST MONROE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

## Series and Classes Contracts Data

### Zacks Quality International ETF (Series ID: S000093685)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000262121 | Zacks Quality International ETF |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **ZACKS EARNINGS CONSISTENT PORTFOLIO ETF** | **ZACKS EARNINGS CONSISTENT PORTFOLIO ETF** | **ZACKS EARNINGS CONSISTENT PORTFOLIO ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.0%** |  |
|  | **AEROSPACE & DEFENSE - 2.7%** |  |
| 7479 | General Dynamics Corporation | &nbsp;&nbsp;&nbsp; $2427459 |
| 26242 | RTX Corporation | &nbsp;&nbsp;&nbsp; 4161981 |
|  |  | &nbsp;&nbsp; 6589440 |
|  | **ASSET MANAGEMENT - 2.7%** |  |
| 8246 | Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp; 4245123 |
| 2087 | Blackrock, Inc. | &nbsp;&nbsp;&nbsp; 2352341 |
|  |  | &nbsp;&nbsp; 6597464 |
|  | **BANKING - 5.8%** |  |
| 27419 | JPMorgan Chase & Company | &nbsp;&nbsp;&nbsp; 8264635 |
| 13194 | PNC Financial Services Group, Inc. (The) | &nbsp;&nbsp;&nbsp; 2736963 |
| 68622 | Truist Financial Corporation | &nbsp;&nbsp;&nbsp; 3212882 |
|  |  | &nbsp;&nbsp; 14214480 |
|  | **BEVERAGES - 1.4%** |  |
| 23226 | PepsiCo, Inc. | &nbsp;&nbsp;&nbsp; 3452545 |
|  | **BIOTECH & PHARMA - 5.7%** |  |
| 9749 | Amgen, Inc. | &nbsp;&nbsp;&nbsp; 2804885 |
| 29245 | Bristol-Myers Squibb Company | &nbsp;&nbsp;&nbsp; 1379779 |
| 6664 | Eli Lilly & Company | &nbsp;&nbsp;&nbsp; 4881913 |
| 19908 | Johnson & Johnson | &nbsp;&nbsp;&nbsp; 3527100 |
| 17620 | Merck & Company, Inc. | &nbsp;&nbsp;&nbsp; 1482194 |
|  |  | &nbsp;&nbsp; 14075871 |
|  | **COMMERCIAL SUPPORT SERVICES - 3.7%** |  |
| 22094 | Cintas Corporation | &nbsp;&nbsp;&nbsp; 4640403 |
| 18873 | Republic Services, Inc. | &nbsp;&nbsp;&nbsp; 4415716 |
|  |  | &nbsp;&nbsp; 9056119 |
|  | **DIVERSIFIED INDUSTRIALS - 1.0%** |  |
| 18790 | Emerson Electric Company | &nbsp;&nbsp;&nbsp; 2480280 |
|  | **ELECTRIC UTILITIES - 3.6%** |  |
| 41150 | American Electric Power Company, Inc. | &nbsp;&nbsp;&nbsp; 4568472 |
| 24530 | NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp; 1767387 |
| 27685 | Southern Company (The) | &nbsp;&nbsp;&nbsp; 2555326 |
|  |  | &nbsp;&nbsp; 8891185 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS EARNINGS CONSISTENT PORTFOLIO ETF** | **ZACKS EARNINGS CONSISTENT PORTFOLIO ETF** | **ZACKS EARNINGS CONSISTENT PORTFOLIO ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.0% (Continued)** |  |
|  | **ENGINEERING & CONSTRUCTION - 1.4%** |  |
| 5661 | EMCOR Group, Inc. | &nbsp;&nbsp;&nbsp; $3509820 |
|  | **FOOD - 1.2%** |  |
| 16018 | Hershey Company (The) | &nbsp;&nbsp;&nbsp; 2943308 |
|  | **GAS & WATER UTILITIES - 1.0%** |  |
| 17286 | American Water Works Company, Inc. | &nbsp;&nbsp;&nbsp; 2480714 |
|  | **HEALTH CARE FACILITIES & SERVICES - 2.4%** |  |
| 23856 | Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp; 3549296 |
| 8356 | Labcorp Holdings, Inc. | &nbsp;&nbsp;&nbsp; 2322884 |
|  |  | &nbsp;&nbsp; 5872180 |
|  | **HOUSEHOLD PRODUCTS - 2.4%** |  |
| 36736 | Procter & Gamble Company (The) | &nbsp;&nbsp;&nbsp; 5769021 |
|  | **INDUSTRIAL REIT - 0.6%** |  |
| 14001 | Prologis, Inc. | &nbsp;&nbsp;&nbsp; 1593034 |
|  | **INSTITUTIONAL FINANCIAL SERVICES - 1.0%** |  |
| 25962 | Nasdaq, Inc. | &nbsp;&nbsp;&nbsp; 2459640 |
|  | **INSURANCE - 6.0%** |  |
| 35870 | Hartford Insurance Group, Inc. (The) | &nbsp;&nbsp;&nbsp; 4745959 |
| 21079 | Marsh & McLennan Companies, Inc. | &nbsp;&nbsp;&nbsp; 4338269 |
| 38482 | MetLife, Inc. | &nbsp;&nbsp;&nbsp; 3130896 |
| 36372 | W R Berkley Corporation | &nbsp;&nbsp;&nbsp; 2607509 |
|  |  | &nbsp;&nbsp; 14822633 |
|  | **INTERNET MEDIA & SERVICES - 8.4%** |  |
| 61020 | Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp; 12991768 |
| 6248 | Netflix, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 7549146 |
|  |  | &nbsp;&nbsp; 20540914 |
|  | **LEISURE FACILITIES & SERVICES - 2.3%** |  |
| 11446 | Marriott International, Inc., Class A | &nbsp;&nbsp;&nbsp; 3065926 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS EARNINGS CONSISTENT PORTFOLIO ETF** | **ZACKS EARNINGS CONSISTENT PORTFOLIO ETF** | **ZACKS EARNINGS CONSISTENT PORTFOLIO ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.0% (Continued)** |  |
|  | **LEISURE FACILITIES & SERVICES - 2.3% (Continued)** |  |
| 8073 | McDonald's Corporation | &nbsp;&nbsp;&nbsp; $2531208 |
|  |  | &nbsp;&nbsp; 5597134 |
|  | **MACHINERY - 2.7%** |  |
| 15782 | Caterpillar, Inc. | &nbsp;&nbsp;&nbsp; 6613289 |
|  | **MEDICAL EQUIPMENT & DEVICES - 4.4%** |  |
| 21584 | Abbott Laboratories | &nbsp;&nbsp;&nbsp; 2863333 |
| 29513 | Boston Scientific Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3113622 |
| 6790 | Stryker Corporation | &nbsp;&nbsp;&nbsp; 2657674 |
| 4476 | Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp; 2205415 |
|  |  | &nbsp;&nbsp; 10840044 |
|  | **RESIDENTIAL REIT - 0.8%** |  |
| 13223 | Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;&nbsp; 1928178 |
|  | **RETAIL - CONSUMER STAPLES - 2.6%** |  |
| 68107 | Walmart, Inc. | &nbsp;&nbsp;&nbsp; 6605017 |
|  | **RETAIL - DISCRETIONARY - 4.0%** |  |
| 14529 | Home Depot, Inc. (The) | &nbsp;&nbsp;&nbsp; 5909961 |
| 28565 | TJX Companies, Inc. (The) | &nbsp;&nbsp;&nbsp; 3902265 |
|  |  | &nbsp;&nbsp; 9812226 |
|  | **SEMICONDUCTORS - 2.4%** |  |
| 22119 | Applied Materials, Inc. | &nbsp;&nbsp;&nbsp; 3555850 |
| 11997 | Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp; 2429153 |
|  |  | &nbsp;&nbsp; 5985003 |
|  | **SOFTWARE - 14.6%** |  |
| 10216 | Cadence Design Systems, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3579993 |
| 4360 | Intuit, Inc. | &nbsp;&nbsp;&nbsp; 2908120 |
| 31881 | Microsoft Corporation | &nbsp;&nbsp;&nbsp; 16153783 |
| 19451 | Oracle Corporation | &nbsp;&nbsp;&nbsp; 4398455 |
| 9354 | Salesforce, Inc. | &nbsp;&nbsp;&nbsp; 2396963 |
| 10109 | Synopsys, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 6100984 |
|  |  | &nbsp;&nbsp; 35538298 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS EARNINGS CONSISTENT PORTFOLIO ETF** | **ZACKS EARNINGS CONSISTENT PORTFOLIO ETF** | **ZACKS EARNINGS CONSISTENT PORTFOLIO ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.0% (Continued)** |  |
|  | **SPECIALTY FINANCE - 2.8%** |  |
| 20506 | American Express Company | &nbsp;&nbsp;&nbsp; $6793228 |
|  | **TECHNOLOGY HARDWARE - 8.0%** |  |
| 70126 | Apple, Inc. | &nbsp;&nbsp;&nbsp; 16279050 |
| 47570 | Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp; 3286611 |
|  |  | &nbsp;&nbsp; 19565661 |
|  | **TECHNOLOGY SERVICES - 3.4%** |  |
| 10919 | Accenture PLC, Class A | &nbsp;&nbsp;&nbsp; 2838612 |
| 9058 | International Business Machines Corporation | &nbsp;&nbsp;&nbsp; 2205532 |
| 6562 | Moody's Corporation | &nbsp;&nbsp;&nbsp; 3345046 |
|  |  | &nbsp;&nbsp; 8389190 |
|  | **TOTAL COMMON STOCKS (Cost $209,793,518)** | &nbsp;&nbsp; 243015916 |
|  | **TOTAL INVESTMENTS - 99.0% (Cost $209,793,518)** | &nbsp;&nbsp;&nbsp; $243015916 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 1.0%** | &nbsp;&nbsp; 2414587 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $245430503 |

---

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

---

| | | |
|:---|:---|:---|
| **ZACKS SMALL/MID CAP ETF** | **ZACKS SMALL/MID CAP ETF** | **ZACKS SMALL/MID CAP ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.6%** |  |
|  | **AEROSPACE & DEFENSE - 1.3%** |  |
| 29104 | Archer Aviation, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $260481 |
| 9856 | Astronics Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 358463 |
| 7074 | Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp; 1231583 |
|  |  | &nbsp;&nbsp; 1850527 |
|  | **ASSET MANAGEMENT - 1.7%** |  |
| 4710 | Affiliated Managers Group, Inc. | &nbsp;&nbsp;&nbsp; 1058903 |
| 12760 | Artisan Partners Asset Management, Inc., Class A | &nbsp;&nbsp;&nbsp; 597040 |
| 35839 | ODP Corporation (The)<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 726098 |
|  |  | &nbsp;&nbsp; 2382041 |
|  | **AUTOMOTIVE - 0.6%** |  |
| 7094 | Visteon Corporation | &nbsp;&nbsp;&nbsp; 879372 |
|  | **BANKING - 7.4%** |  |
| 7763 | BancFirst Corporation | &nbsp;&nbsp;&nbsp; 1032246 |
| 29655 | Cadence Bank | &nbsp;&nbsp;&nbsp; 1116213 |
| 6939 | City Holding Company | &nbsp;&nbsp;&nbsp; 891523 |
| 26210 | First Horizon Corporation | &nbsp;&nbsp;&nbsp; 592346 |
| 7036 | Home Bancorp, Inc. | &nbsp;&nbsp;&nbsp; 395881 |
| 15547 | Independent Bank Corporation (MA) | &nbsp;&nbsp;&nbsp; 1111766 |
| 10491 | Northrim BanCorp, Inc. | &nbsp;&nbsp;&nbsp; 986469 |
| 18485 | Origin Bancorp, Inc. | &nbsp;&nbsp;&nbsp; 718882 |
| 3837 | Park National Corporation | &nbsp;&nbsp;&nbsp; 659081 |
| 7330 | ServisFirst Bancshares, Inc. | &nbsp;&nbsp;&nbsp; 646140 |
| 17732 | SmartFinancial, Inc. | &nbsp;&nbsp;&nbsp; 653424 |
| 14649 | Southern First Bancshares, Inc., 151938513<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 660670 |
| 13254 | Texas Capital Bancshares, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1147398 |
|  |  | &nbsp;&nbsp; 10612039 |
|  | **BIOTECH & PHARMA - 2.4%** |  |
| 153315 | Allogene Therapeutics, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 173246 |
| 1753 | Alnylam Pharmaceuticals, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 782732 |
| 30745 | Arvinas, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 237659 |
| 3496 | BioMarin Pharmaceutical, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 203712 |
| 11964 | Janux Therapeutics, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 271822 |
| 39330 | Rigel Pharmaceuticals, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1527970 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS SMALL/MID CAP ETF** | **ZACKS SMALL/MID CAP ETF** | **ZACKS SMALL/MID CAP ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.6% (Continued)** |  |
|  | **BIOTECH & PHARMA - 2.4% (Continued)** |  |
| 4103 | TG Therapeutics, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $120341 |
| 3795 | Vaxcyte, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 116848 |
|  |  | &nbsp;&nbsp; 3434330 |
|  | **CHEMICALS - 2.1%** |  |
| 3211 | CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp; 278169 |
| 5455 | DuPont de Nemours, Inc. | &nbsp;&nbsp;&nbsp; 419599 |
| 9130 | International Flavors & Fragrances, Inc. | &nbsp;&nbsp;&nbsp; 616366 |
| 72304 | Perimeter Solutions, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1618886 |
|  |  | &nbsp;&nbsp; 2933020 |
|  | **COMMERCIAL SUPPORT SERVICES - 0.5%** |  |
| 4170 | Casella Waste Systems, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 410995 |
| 4524 | TriNet Group, Inc. | &nbsp;&nbsp;&nbsp; 327628 |
|  |  | &nbsp;&nbsp; 738623 |
|  | **CONSTRUCTION MATERIALS - 0.3%** |  |
| 1241 | Carlisle Companies, Inc. | &nbsp;&nbsp;&nbsp; 478889 |
|  | **CONSUMER SERVICES - 1.3%** |  |
| 23896 | Coursera, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 274804 |
| 9424 | Stride, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1537903 |
|  |  | &nbsp;&nbsp; 1812707 |
|  | **CONTAINERS & PACKAGING - 0.6%** |  |
| 7958 | Crown Holdings, Inc. | &nbsp;&nbsp;&nbsp; 790866 |
|  | **ELECTRIC UTILITIES - 1.8%** |  |
| 4299 | CenterPoint Energy, Inc. | &nbsp;&nbsp;&nbsp; 162115 |
| 3163 | Constellation Energy Corporation | &nbsp;&nbsp;&nbsp; 974141 |
| 9207 | Edison International | &nbsp;&nbsp;&nbsp; 516789 |
| 5159 | Vistra Corporation | &nbsp;&nbsp;&nbsp; 975618 |
|  |  | &nbsp;&nbsp; 2628663 |
|  | **ELECTRICAL EQUIPMENT - 5.6%** |  |
| 3018 | Acuity, Inc. | &nbsp;&nbsp;&nbsp; 985286 |
| 27555 | Allient, Inc. | &nbsp;&nbsp;&nbsp; 1250446 |
| 14802 | Amphenol Corporation, Class A | &nbsp;&nbsp;&nbsp; 1611346 |
| 10148 | API Group Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 362081 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS SMALL/MID CAP ETF** | **ZACKS SMALL/MID CAP ETF** | **ZACKS SMALL/MID CAP ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.6% (Continued)** |  |
|  | **ELECTRICAL EQUIPMENT - 5.6% (Continued)** |  |
| 1758 | Hubbell, Inc. | &nbsp;&nbsp;&nbsp; $757680 |
| 15937 | NEXTracker, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1071923 |
| 1822 | Powell Industries, Inc. | &nbsp;&nbsp;&nbsp; 484944 |
| 2866 | SPX Technologies, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 536257 |
| 3987 | Watts Water Technologies, Inc., Class A | &nbsp;&nbsp;&nbsp; 1104000 |
|  |  | &nbsp;&nbsp; 8163963 |
|  | **ENGINEERING & CONSTRUCTION - 5.4%** |  |
| 2780 | Comfort Systems USA, Inc. | &nbsp;&nbsp;&nbsp; 1955396 |
| 4466 | EMCOR Group, Inc. | &nbsp;&nbsp;&nbsp; 2768921 |
| 16766 | Fluor Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 687741 |
| 5438 | MasTec, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 988030 |
| 2954 | Sterling Infrastructure, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 822778 |
| 12744 | Tetra Tech, Inc. | &nbsp;&nbsp;&nbsp; 464136 |
|  |  | &nbsp;&nbsp; 7687002 |
|  | **ENTERTAINMENT CONTENT - 0.8%** |  |
| 2378 | AppLovin Corporation, Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1138087 |
|  | **FOOD - 1.4%** |  |
| 59003 | Herbalife Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 577049 |
| 13196 | Phibro Animal Health Corporation, Class A | &nbsp;&nbsp;&nbsp; 489176 |
| 15577 | Tyson Foods, Inc., Class A | &nbsp;&nbsp;&nbsp; 884462 |
|  |  | &nbsp;&nbsp; 1950687 |
|  | **GAMING REIT - 0.3%** |  |
| 10982 | VICI Properties, Inc. | &nbsp;&nbsp;&nbsp; 370972 |
|  | **GAS & WATER UTILITIES - 3.0%** |  |
| 5148 | American Water Works Company, Inc. | &nbsp;&nbsp;&nbsp; 738789 |
| 15572 | National Fuel Gas Company | &nbsp;&nbsp;&nbsp; 1350716 |
| 21634 | New Jersey Resources Corporation | &nbsp;&nbsp;&nbsp; 1023072 |
| 26159 | NiSource, Inc. | &nbsp;&nbsp;&nbsp; 1105741 |
|  |  | &nbsp;&nbsp; 4218318 |
|  | **HEALTH CARE FACILITIES & SERVICES - 5.1%** |  |
| 6017 | Addus HomeCare Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 692978 |
| 3535 | Cencora, Inc. | &nbsp;&nbsp;&nbsp; 1030841 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS SMALL/MID CAP ETF** | **ZACKS SMALL/MID CAP ETF** | **ZACKS SMALL/MID CAP ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.6% (Continued)** |  |
|  | **HEALTH CARE FACILITIES & SERVICES - 5.1% (Continued)** |  |
| 8467 | HealthEquity, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $756357 |
| 1906 | McKesson Corporation | &nbsp;&nbsp;&nbsp; 1308736 |
| 1936 | Medpace Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 920587 |
| 19531 | Option Care Health, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 560149 |
| 54915 | Premier, Inc., Class A | &nbsp;&nbsp;&nbsp; 1422299 |
| 3147 | Tenet Healthcare Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 580087 |
|  |  | &nbsp;&nbsp; 7272034 |
|  | **HEALTH CARE REIT - 0.6%** |  |
| 21116 | Omega Healthcare Investors, Inc. | &nbsp;&nbsp;&nbsp; 898908 |
|  | **HOUSEHOLD PRODUCTS - 1.1%** |  |
| 35145 | Central Garden & Pet Company, Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1160839 |
| 18815 | Quanex Building Products Corporation | &nbsp;&nbsp;&nbsp; 400195 |
|  |  | &nbsp;&nbsp; 1561034 |
|  | **INDUSTRIAL INTERMEDIATE PRODUCTS - 0.5%** |  |
| 17529 | Insteel Industries, Inc. | &nbsp;&nbsp;&nbsp; 672763 |
|  | **INSTITUTIONAL FINANCIAL SERVICES - 2.2%** |  |
| 2376 | Cboe Global Markets, Inc. | &nbsp;&nbsp;&nbsp; 560617 |
| 3317 | Evercore, Inc., Class A | &nbsp;&nbsp;&nbsp; 1066581 |
| 11846 | Northern Trust Corporation | &nbsp;&nbsp;&nbsp; 1555143 |
|  |  | &nbsp;&nbsp; 3182341 |
|  | **INSURANCE - 4.0%** |  |
| 3614 | Allstate Corporation (The) | &nbsp;&nbsp;&nbsp; 735268 |
| 4472 | Arch Capital Group Ltd. | &nbsp;&nbsp;&nbsp; 409322 |
| 2723 | Assurant, Inc. | &nbsp;&nbsp;&nbsp; 587106 |
| 6083 | Assured Guaranty Ltd. | &nbsp;&nbsp;&nbsp; 500023 |
| 2604 | Brown & Brown, Inc. | &nbsp;&nbsp;&nbsp; 252458 |
| 6779 | Hartford Insurance Group, Inc. (The) | &nbsp;&nbsp;&nbsp; 896929 |
| 7587 | Jackson Financial, Inc., Class A | &nbsp;&nbsp;&nbsp; 749596 |
| 4349 | Kemper Corporation | &nbsp;&nbsp;&nbsp; 233324 |
| 2250 | Primerica, Inc. | &nbsp;&nbsp;&nbsp; 606015 |
| 22315 | United Fire Group, Inc. | &nbsp;&nbsp;&nbsp; 685963 |
|  |  | &nbsp;&nbsp; 5656004 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS SMALL/MID CAP ETF** | **ZACKS SMALL/MID CAP ETF** | **ZACKS SMALL/MID CAP ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.6% (Continued)** |  |
|  | **INTERNET MEDIA & SERVICES - 0.7%** |  |
| 10727 | Cargurus, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $371154 |
| 17001 | EverQuote, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 395273 |
| 15542 | TripAdvisor, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 270742 |
|  |  | &nbsp;&nbsp; 1037169 |
|  | **LEISURE FACILITIES & SERVICES - 3.8%** |  |
| 29836 | Atlanta Braves Holdings, Inc., Series C<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1342023 |
| 3959 | Brinker International, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 617525 |
| 26370 | Carnival Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 840939 |
| 2993 | Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp; 619371 |
| 7767 | Life Time Group Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 216855 |
| 2007 | Light & Wonder, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 185587 |
| 3953 | Royal Caribbean Cruises Ltd. | &nbsp;&nbsp;&nbsp; 1435810 |
|  |  | &nbsp;&nbsp; 5258110 |
|  | **LEISURE PRODUCTS - 0.1%** |  |
| 24285 | Peloton Interactive, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 184566 |
|  | **MEDICAL EQUIPMENT & DEVICES - 2.9%** |  |
| 20493 | BioLife Solutions, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 513350 |
| 16502 | Dentsply Sirona, Inc. | &nbsp;&nbsp;&nbsp; 235979 |
| 6108 | ICU Medical, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 779746 |
| 3656 | Illumina, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 365454 |
| 1872 | Inspire Medical Systems, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 175388 |
| 20132 | QIAGEN N.V. | &nbsp;&nbsp;&nbsp; 936137 |
| 2703 | ResMed, Inc. | &nbsp;&nbsp;&nbsp; 742001 |
| 12929 | Veracyte, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 392266 |
|  |  | &nbsp;&nbsp; 4140321 |
|  | **METALS & MINING - 2.0%** |  |
| 4560 | Anglogold Ashanti plc | &nbsp;&nbsp;&nbsp; 258370 |
| 42166 | Coeur Mining, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 554483 |
| 52664 | Hecla Mining Company | &nbsp;&nbsp;&nbsp; 448171 |
| 3045 | Royal Gold, Inc. | &nbsp;&nbsp;&nbsp; 546821 |
| 60032 | SSR Mining, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1159218 |
|  |  | &nbsp;&nbsp; 2967063 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS SMALL/MID CAP ETF** | **ZACKS SMALL/MID CAP ETF** | **ZACKS SMALL/MID CAP ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.6% (Continued)** |  |
|  | **MORTGAGE FINANCE - 2.7%** |  |
| 48157 | Annaly Capital Management, Inc. | &nbsp;&nbsp;&nbsp; $1020447 |
| 63860 | Invesco Mortgage Capital, Inc. | &nbsp;&nbsp;&nbsp; 499385 |
| 72078 | Orchid Island Capital, Inc. | &nbsp;&nbsp;&nbsp; 508871 |
| 67816 | Starwood Property Trust, Inc. | &nbsp;&nbsp;&nbsp; 1374630 |
| 48241 | Two Harbors Investment Corporation | &nbsp;&nbsp;&nbsp; 482410 |
|  |  | &nbsp;&nbsp; 3885743 |
|  | **OFFICE REIT - 0.2%** |  |
| 21924 | Peakstone Realty Trust | &nbsp;&nbsp;&nbsp; 278873 |
|  | **OIL & GAS PRODUCERS - 2.3%** |  |
| 910 | Antero Resources Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 29047 |
| 3773 | Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp; 912387 |
| 13865 | EQT Corporation | &nbsp;&nbsp;&nbsp; 718762 |
| 4188 | Expand Energy Corporation | &nbsp;&nbsp;&nbsp; 405315 |
| 19676 | Williams Companies, Inc. (The) | &nbsp;&nbsp;&nbsp; 1138846 |
|  |  | &nbsp;&nbsp; 3204357 |
|  | **PUBLISHING & BROADCASTING - 0.6%** |  |
| 6002 | New York Times Company (The), Class A | &nbsp;&nbsp;&nbsp; 359160 |
| 17954 | News Corporation, Class A | &nbsp;&nbsp;&nbsp; 528027 |
|  |  | &nbsp;&nbsp; 887187 |
|  | **REAL ESTATE OWNERS & DEVELOPERS - 0.6%** |  |
| 11936 | Howard Hughes Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 910359 |
|  | **REAL ESTATE SERVICES - 0.7%** |  |
| 54106 | Newmark Group, Inc., Class A | &nbsp;&nbsp;&nbsp; 985270 |
|  | **RENEWABLE ENERGY - 0.4%** |  |
| 40163 | Sunrun, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 641403 |
|  | **RETAIL - CONSUMER STAPLES - 1.8%** |  |
| 3270 | BJ's Wholesale Club Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 319414 |
| 9285 | Hims & Hers Health, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 393220 |
| 13032 | Kroger Company (The) | &nbsp;&nbsp;&nbsp; 884091 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS SMALL/MID CAP ETF** | **ZACKS SMALL/MID CAP ETF** | **ZACKS SMALL/MID CAP ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.6% (Continued)** |  |
|  | **RETAIL - CONSUMER STAPLES - 1.8% (Continued)** |  |
| 6970 | Sprouts Farmers Market, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $979564 |
|  |  | &nbsp;&nbsp; 2576289 |
|  | **RETAIL - DISCRETIONARY - 2.1%** |  |
| 5668 | Advance Auto Parts, Inc. | &nbsp;&nbsp;&nbsp; 345691 |
| 2538 | Carvana Company<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 943933 |
| 3985 | Ferguson Enterprises, Inc. | &nbsp;&nbsp;&nbsp; 921133 |
| 12549 | Urban Outfitters, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 841787 |
|  |  | &nbsp;&nbsp; 3052544 |
|  | **RETAIL REIT - 0.8%** |  |
| 5044 | Alexander's, Inc. | &nbsp;&nbsp;&nbsp; 1161836 |
|  | **SEMICONDUCTORS - 1.3%** |  |
| 8644 | Cirrus Logic, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 987058 |
| 6998 | Microchip Technology, Inc. | &nbsp;&nbsp;&nbsp; 454870 |
| 5297 | Rambus, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 390760 |
|  |  | &nbsp;&nbsp; 1832688 |
|  | **SOFTWARE - 8.9%** |  |
| 14632 | ACI Worldwide, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 722089 |
| 21391 | Alkami Technology, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 547610 |
| 5549 | Blackbaud, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 370174 |
| 5269 | Blackline, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 286476 |
| 62651 | Bumble, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 386557 |
| 2162 | CommVault Systems, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 403526 |
| 5901 | Doximity, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 400914 |
| 22307 | Dropbox, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 648241 |
| 5383 | Elastic N.V.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 457878 |
| 7694 | Five9, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 207122 |
| 4981 | Fortinet, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 392353 |
| 4918 | Guidewire Software, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1067304 |
| 66508 | Health Catalyst, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 225462 |
| 20674 | IonQ, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 883607 |
| 2646 | Okta, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 245469 |
| 105038 | Olo, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1076641 |
| 5373 | Omnicell, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 175106 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS SMALL/MID CAP ETF** | **ZACKS SMALL/MID CAP ETF** | **ZACKS SMALL/MID CAP ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.6% (Continued)** |  |
|  | **SOFTWARE - 8.9% (Continued)** |  |
| 11837 | Phreesia, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $374759 |
| 3866 | Qualys, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 525041 |
| 4938 | SPS Commerce, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 544661 |
| 11449 | Upstart Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 838983 |
| 11158 | Waystar Holding Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 422665 |
| 8841 | Zoom Video Communications, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 719834 |
| 2693 | Zscaler, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 746096 |
|  |  | &nbsp;&nbsp; 12668568 |
|  | **SPECIALTY FINANCE - 2.6%** |  |
| 47692 | New Residential Investment Corporation | &nbsp;&nbsp;&nbsp; 590427 |
| 36458 | Onity Group, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1508267 |
| 64795 | SoFi Technologies, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1654865 |
|  |  | &nbsp;&nbsp; 3753559 |
|  | **SPECIALTY REIT - 1.2%** |  |
| 18777 | EPR Properties | &nbsp;&nbsp;&nbsp; 1018652 |
| 44987 | Postal Realty Trust, Inc., Class A | &nbsp;&nbsp;&nbsp; 712594 |
|  |  | &nbsp;&nbsp; 1731246 |
|  | **SPECIALTY REITS - 0.2%** |  |
| 2600 | Iron Mountain, Inc. | &nbsp;&nbsp;&nbsp; 240058 |
|  | **STEEL - 0.9%** |  |
| 2890 | Carpenter Technology Corporation | &nbsp;&nbsp;&nbsp; 696144 |
| 11365 | Northwest Pipe Company<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 601890 |
|  |  | &nbsp;&nbsp; 1298034 |
|  | **TECHNOLOGY HARDWARE - 6.4%** |  |
| 12924 | Arista Networks, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1764772 |
| 16910 | Corning, Inc. | &nbsp;&nbsp;&nbsp; 1133477 |
| 15459 | Credo Technology Group Holding Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1902306 |
| 3249 | Fabrinet<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1076361 |
| 2058 | Garmin Ltd. | &nbsp;&nbsp;&nbsp; 497666 |
| 2928 | InterDigital, Inc. | &nbsp;&nbsp;&nbsp; 795567 |
| 7105 | NetApp, Inc. | &nbsp;&nbsp;&nbsp; 801373 |
| 24682 | PagerDuty, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 413177 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS SMALL/MID CAP ETF** | **ZACKS SMALL/MID CAP ETF** | **ZACKS SMALL/MID CAP ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.6% (Continued)** |  |
|  | **TECHNOLOGY HARDWARE - 6.4% (Continued)** |  |
| 1313 | Ubiquiti, Inc. | &nbsp;&nbsp;&nbsp; $693435 |
|  |  | &nbsp;&nbsp; 9078134 |
|  | **TECHNOLOGY SERVICES - 2.7%** |  |
| 8588 | Affirm Holdings, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 759694 |
| 1307 | Coinbase Global, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 398034 |
| 5474 | Leidos Holdings, Inc. | &nbsp;&nbsp;&nbsp; 990356 |
| 21142 | LiveRamp Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 590285 |
| 25724 | Paysafe Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 362966 |
| 31191 | StoneCompany Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 513716 |
| 73786 | Unisys Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 288503 |
|  |  | &nbsp;&nbsp; 3903554 |
|  | **TRANSPORTATION & LOGISTICS - 2.0%** |  |
| 5382 | CH Robinson Worldwide, Inc. | &nbsp;&nbsp;&nbsp; 692663 |
| 4451 | Expeditors International of Washington, Inc. | &nbsp;&nbsp;&nbsp; 536524 |
| 9527 | Golar LNG Ltd. | &nbsp;&nbsp;&nbsp; 417473 |
| 6095 | SkyWest, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 739933 |
| 12830 | Southwest Airlines Company | &nbsp;&nbsp;&nbsp; 422107 |
|  |  | &nbsp;&nbsp; 2808700 |
|  | **TRANSPORTATION EQUIPMENT - 0.7%** |  |
| 4388 | Allison Transmission Holdings, Inc. | &nbsp;&nbsp;&nbsp; 383116 |
| 3067 | Westinghouse Air Brake Technologies Corporation | &nbsp;&nbsp;&nbsp; 593465 |
|  |  | &nbsp;&nbsp; 976581 |
|  | **TOTAL COMMON STOCKS (Cost $122,848,744)** | &nbsp;&nbsp; 140775402 |
|  | **TOTAL INVESTMENTS - 98.6% (Cost $122,848,744)** | &nbsp;&nbsp;&nbsp; $140775402 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 1.4%** | &nbsp;&nbsp; 2069327 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $142844729 |

---

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

---

| | | |
|:---|:---|:---|
| **ZACKS FOCUS GROWTH ETF** | **ZACKS FOCUS GROWTH ETF** | **ZACKS FOCUS GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.0%** |  |
|  | **AEROSPACE & DEFENSE - 0.9%** |  |
| 1834 | Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp; $319299 |
|  | **AUTOMOTIVE - 3.8%** |  |
| 4060 | Tesla, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1355512 |
|  | **BEVERAGES - 1.0%** |  |
| 4936 | Coca-Cola Company (The) | &nbsp;&nbsp;&nbsp; 340535 |
|  | **BIOTECH & PHARMA - 4.1%** |  |
| 2400 | AbbVie, Inc. | &nbsp;&nbsp;&nbsp; 504960 |
| 1291 | Eli Lilly & Company | &nbsp;&nbsp;&nbsp; 945761 |
|  |  | &nbsp;&nbsp; 1450721 |
|  | **COMMERCIAL SUPPORT SERVICES - 1.2%** |  |
| 2022 | Cintas Corporation | &nbsp;&nbsp;&nbsp; 424681 |
|  | **DIVERSIFIED INDUSTRIALS - 1.8%** |  |
| 2229 | General Electric Company | &nbsp;&nbsp;&nbsp; 613420 |
|  | **E-COMMERCE DISCRETIONARY - 5.2%** |  |
| 8044 | Amazon.com, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1842075 |
|  | **ELECTRICAL EQUIPMENT - 1.4%** |  |
| 4637 | Amphenol Corporation, Class A | &nbsp;&nbsp;&nbsp; 504784 |
|  | **ENGINEERING & CONSTRUCTION - 1.7%** |  |
| 951 | EMCOR Group, Inc. | &nbsp;&nbsp;&nbsp; 589620 |
|  | **HEALTH CARE FACILITIES & SERVICES - 2.3%** |  |
| 2531 | Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp; 376562 |
| 1460 | Cencora, Inc. | &nbsp;&nbsp;&nbsp; 425751 |
|  |  | &nbsp;&nbsp; 802313 |
|  | **HOME CONSTRUCTION - 1.3%** |  |
| 2362 | Armstrong World Industries, Inc. | &nbsp;&nbsp;&nbsp; 462409 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS FOCUS GROWTH ETF** | **ZACKS FOCUS GROWTH ETF** | **ZACKS FOCUS GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.0% (Continued)** |  |
|  | **INDUSTRIAL SUPPORT SERVICES - 0.9%** |  |
| 6533 | Fastenal Company | &nbsp;&nbsp;&nbsp; $324429 |
|  | **INSTITUTIONAL FINANCIAL SERVICES - 3.4%** |  |
| 1109 | Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;&nbsp; 826482 |
| 2431 | Morgan Stanley | &nbsp;&nbsp;&nbsp; 365817 |
|  |  | &nbsp;&nbsp; 1192299 |
|  | **INTERNET MEDIA & SERVICES - 16.4%** |  |
| 8901 | Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp; 1895111 |
| 2305 | Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp; 1702704 |
| 1198 | Netflix, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1447484 |
| 3404 | Roku, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 328690 |
| 4239 | Uber Technologies, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 397406 |
|  |  | &nbsp;&nbsp; 5771395 |
|  | **LEISURE FACILITIES & SERVICES - 1.0%** |  |
| 10622 | Carnival Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 338736 |
|  | **MEDICAL EQUIPMENT & DEVICES - 1.2%** |  |
| 871 | Intuitive Surgical, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 412240 |
|  | **RETAIL - CONSUMER STAPLES - 4.8%** |  |
| 1396 | Casey's General Stores, Inc. | &nbsp;&nbsp;&nbsp; 690350 |
| 1058 | Costco Wholesale Corporation | &nbsp;&nbsp;&nbsp; 998032 |
|  |  | &nbsp;&nbsp; 1688382 |
|  | **RETAIL - DISCRETIONARY - 3.1%** |  |
| 1591 | Ferguson Enterprises, Inc. | &nbsp;&nbsp;&nbsp; 367760 |
| 980 | Home Depot, Inc. (The) | &nbsp;&nbsp;&nbsp; 398635 |
| 2276 | TJX Companies, Inc. (The) | &nbsp;&nbsp;&nbsp; 310924 |
|  |  | &nbsp;&nbsp; 1077319 |
|  | **SEMICONDUCTORS - 14.6%** |  |
| 5560 | Broadcom, Inc. | &nbsp;&nbsp;&nbsp; 1653489 |
| 3460 | Lam Research Corporation | &nbsp;&nbsp;&nbsp; 346519 |
| 18257 | NVIDIA Corporation | &nbsp;&nbsp;&nbsp; 3180005 |
|  |  | &nbsp;&nbsp; 5180013 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS FOCUS GROWTH ETF** | **ZACKS FOCUS GROWTH ETF** | **ZACKS FOCUS GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.0% (Continued)** |  |
|  | **SOFTWARE - 13.9%** |  |
| 6113 | Microsoft Corporation, Class A | &nbsp;&nbsp;&nbsp; $3097395 |
| 1806 | Oracle Corporation | &nbsp;&nbsp;&nbsp; 408391 |
| 4625 | Palantir Technologies, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 724784 |
| 5152 | Pegasystems, Inc. | &nbsp;&nbsp;&nbsp; 279290 |
| 1515 | Veeva Systems, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 407838 |
|  |  | &nbsp;&nbsp; 4917698 |
|  | **TECHNOLOGY HARDWARE - 9.9%** |  |
| 11352 | Apple, Inc. | &nbsp;&nbsp;&nbsp; 2635254 |
| 4024 | Arista Networks, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 549477 |
| 2423 | Dell Technologies, Inc., Class C | &nbsp;&nbsp;&nbsp; 295969 |
|  |  | &nbsp;&nbsp; 3480700 |
|  | **TECHNOLOGY SERVICES - 4.1%** |  |
| 1109 | Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp; 660177 |
| 2188 | Visa, Inc., Class A | &nbsp;&nbsp;&nbsp; 769694 |
|  |  | &nbsp;&nbsp; 1429871 |
|  | **TOTAL COMMON STOCKS (Cost $30,426,743)** | &nbsp;&nbsp; 34518451 |
|  | **TOTAL INVESTMENTS - 98.0% (Cost $30,426,743)** | &nbsp;&nbsp;&nbsp; $34518451 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 2.0%** | &nbsp;&nbsp; 708044 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $35226495 |

---

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

---

| | | |
|:---|:---|:---|
| **ZACKS QUALITY INTERNATIONAL ETF** | **ZACKS QUALITY INTERNATIONAL ETF** | **ZACKS QUALITY INTERNATIONAL ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.6%** |  |
|  | **Australia - 6.1%** |  |
| 43 | Australia & New Zealand Banking Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $947 |
| 48 | BHP Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1357 |
| 122 | Brambles Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2072 |
| 40 | Commonwealth Bank of Australia<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4459 |
| 34 | Computershare Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 849 |
| 4 | CSL Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 557 |
| 5 | Macquarie Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 737 |
| 40 | National Australia Bank Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1120 |
| 32 | QBE Insurance Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 453 |
| 42 | Wesfarmers Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2523 |
|  |  | &nbsp;&nbsp; 15074 |
|  | **Belgium - 0.9%** |  |
| 15 | Anheuser-Busch InBev S.A./N.V.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 939 |
| 8 | KBC Group N.V. | &nbsp;&nbsp;&nbsp; 943 |
| 2 | UCB S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 468 |
|  |  | &nbsp;&nbsp; 2350 |
|  | **Denmark - 1.3%** |  |
| 5 | DSV Panalpina A/S<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1107 |
| 37 | Novo Nordisk A/S, Class B<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2081 |
|  |  | &nbsp;&nbsp; 3188 |
|  | **Finland - 0.8%** |  |
| 132 | Nordea Bank Abp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2013 |
|  | **France - 12.7%** |  |
| 7 | Air Liquide S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1443 |
| 11 | Airbus SE | &nbsp;&nbsp;&nbsp; 2304 |
| 30 | AXA S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1396 |
| 26 | BNP Paribas S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2337 |
| 21 | Compagnie de Saint-Gobain<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2265 |
| 14 | Danone S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1166 |
| 21 | Engie S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 435 |
| 11 | EssilorLuxottica S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3347 |
| 2 | HeidelbergCement AG | &nbsp;&nbsp;&nbsp; 473 |
| 1 | Hermes International S.C.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2446 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS QUALITY INTERNATIONAL ETF** | **ZACKS QUALITY INTERNATIONAL ETF** | **ZACKS QUALITY INTERNATIONAL ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.6% (Continued)** |  |
|  | **France - 12.7% (Continued)** |  |
| 3 | Legrand S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $457 |
| 3 | L'Oréal<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1396 |
| 2 | LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;&nbsp; 1179 |
| 8 | Safran SA | &nbsp;&nbsp;&nbsp; 2666 |
| 19 | Sanofi S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1878 |
| 6 | Schneider Electric SE<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1474 |
| 32 | Société Générale S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1973 |
| 19 | Total S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1189 |
| 13 | Vinci S.A. | &nbsp;&nbsp;&nbsp; 1762 |
|  |  | &nbsp;&nbsp; 31586 |
|  | **Germany - 12.0%** |  |
| 11 | Allianz SE<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4648 |
| 21 | BASF SE | &nbsp;&nbsp;&nbsp; 1114 |
| 9 | Continental AG<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 790 |
| 9 | Daimler AG<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 562 |
| 4 | Deutsche Boerse AG<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1177 |
| 15 | Deutsche Post AG<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 682 |
| 99 | Deutsche Telekom AG<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3615 |
| 9 | Fresenius Medical Care AG<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 461 |
| 10 | Fresenius Se & Company KGaA<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 543 |
| 33 | Infineon Technologies AG<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1349 |
| 2 | Muenchener Rueckversicherungs-Gesellschaft AG<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1274 |
| 1 | Rheinmetall AG | &nbsp;&nbsp;&nbsp; 1976 |
| 19 | SAP SE<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 5149 |
| 18 | Siemens AG | &nbsp;&nbsp;&nbsp; 4982 |
| 15 | Siemens Energy AG<sup>(a),(b)</sup> | &nbsp;&nbsp;&nbsp; 1592 |
|  |  | &nbsp;&nbsp; 29914 |
|  | **Hong Kong - 2.5%** |  |
| 153 | AIA Group Ltd. | &nbsp;&nbsp;&nbsp; 1441 |
| 79 | CK Hutchison Holdings, Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 520 |
| 55 | Hong Kong Exchanges & Clearing Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3182 |
| 1024 | WH Group Ltd. 144A<sup>(a),(c)</sup> | &nbsp;&nbsp;&nbsp; 1096 |
|  |  | &nbsp;&nbsp; 6239 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS QUALITY INTERNATIONAL ETF** | **ZACKS QUALITY INTERNATIONAL ETF** | **ZACKS QUALITY INTERNATIONAL ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.6% (Continued)** |  |
|  | **Ireland - 0.3%** |  |
| 15 | Experian plc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $777 |
|  | **Italy - 3.7%** |  |
| 30 | Assicurazioni Generali SpA<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1171 |
| 134 | Enel SpA | &nbsp;&nbsp;&nbsp; 1236 |
| 565 | Intesa Sanpaolo SpA<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3552 |
| 41 | UniCredit SpA<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3167 |
|  |  | &nbsp;&nbsp; 9126 |
|  | **Japan - 20.2%** |  |
| 13 | Advantest Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1033 |
| 19 | Asics Corp.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 517 |
| 18 | Capcom Company Ltd. | &nbsp;&nbsp;&nbsp; 491 |
| 23 | Chugai Pharmaceutical Company Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1018 |
| 44 | Daifuku Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1406 |
| 43 | DAIWA HOUSE INDUSTRY CO. LTD<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1530 |
| 2 | Disco Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 563 |
| 3 | Fast Retailing Company Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 950 |
| 43 | Fujitsu Limited<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1046 |
| 94 | Hitachi, Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2590 |
| 20 | ITOCHU Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1143 |
| 76 | KDDI Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1319 |
| 45 | Mitsubishi Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1027 |
| 76 | Mitsubishi Electric Corporation | &nbsp;&nbsp;&nbsp; 1837 |
| 111 | Mitsubishi Heavy Industries Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2835 |
| 140 | Mitsubishi UFJ Financial Group, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2152 |
| 33 | Mitsui & Company Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 769 |
| 87 | Mizuho Financial Group, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2898 |
| 27 | Nintendo Company Ltd<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2445 |
| 727 | Nippon Telegraph & Telephone Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 771 |
| 90 | Nitto Denko Corporation | &nbsp;&nbsp;&nbsp; 2061 |
| 18 | Nomura Research Institute Ltd. | &nbsp;&nbsp;&nbsp; 710 |
| 75 | Panasonic Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 773 |
| 15 | Recruit Holdings Company Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 876 |
| 17 | Shin-Etsu Chemical Company Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 527 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS QUALITY INTERNATIONAL ETF** | **ZACKS QUALITY INTERNATIONAL ETF** | **ZACKS QUALITY INTERNATIONAL ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.6% (Continued)** |  |
|  | **Japan - 20.2% (Continued)** |  |
| 516 | SoftBank Corporation | &nbsp;&nbsp;&nbsp; $801 |
| 10 | SoftBank Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1104 |
| 32 | Sompo Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1036 |
| 127 | Sony Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3528 |
| 22 | Sumitomo Corporation | &nbsp;&nbsp;&nbsp; 621 |
| 61 | Sumitomo Electric Industries Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1744 |
| 48 | Sumitomo Mitsui Financial Group, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1322 |
| 19 | Takeda Pharmaceutical Company Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 572 |
| 25 | Tokio Marine Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1089 |
| 8 | Tokyo Electron Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1124 |
| 16 | Tokyo Gas Company Ltd. | &nbsp;&nbsp;&nbsp; 613 |
| 154 | Toray Industries, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1041 |
| 99 | Toyota Motor Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1935 |
|  |  | &nbsp;&nbsp; 49817 |
|  | **Luxembourg - 0.8%** |  |
| 39 | ArcelorMittal<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1298 |
| 1 | Spotify Technology S.A.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 682 |
|  |  | &nbsp;&nbsp; 1980 |
|  | **Netherlands - 3.5%** |  |
| 1 | Adyen N.V. 144A<sup>(a),(b),(c)</sup> | &nbsp;&nbsp;&nbsp; 1678 |
| 5 | ASML Holding N.V.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3723 |
| 54 | ING Groep N.V.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1286 |
| 34 | Prosus N.V.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2100 |
|  |  | &nbsp;&nbsp; 8787 |
|  | **Norway - 0.5%** |  |
| 116 | Orkla ASA | &nbsp;&nbsp;&nbsp; 1296 |
|  | **Singapore - 2.9%** |  |
| 76 | DBS Group Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2992 |
| 78 | Oversea-Chinese Banking Corporation Ltd. | &nbsp;&nbsp;&nbsp; 1018 |
| 99 | Singapore Exchange Ltd. | &nbsp;&nbsp;&nbsp; 1278 |
| 576 | Singapore Telecommunications Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1935 |
|  |  | &nbsp;&nbsp; 7223 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS QUALITY INTERNATIONAL ETF** | **ZACKS QUALITY INTERNATIONAL ETF** | **ZACKS QUALITY INTERNATIONAL ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.6% (Continued)** |  |
|  | **Spain - 4.4%** |  |
| 38 | Aena S.M.E. SA 144A<sup>(a),(c)</sup> | &nbsp;&nbsp;&nbsp; $1100 |
| 175 | Banco Bilbao Vizcaya Argentaria S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3170 |
| 243 | Banco Santander S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2319 |
| 36 | Endesa S.A. | &nbsp;&nbsp;&nbsp; 1097 |
| 91 | Iberdrola S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1711 |
| 32 | Industria de Diseno Textil S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1580 |
|  |  | &nbsp;&nbsp; 10977 |
|  | **Sweden - 1.2%** |  |
| 72 | Telefonaktiebolaget LM Ericsson, Class B<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 573 |
| 273 | Telia Co. AB<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1018 |
| 44 | Volvo AB, B Shares<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1352 |
|  |  | &nbsp;&nbsp; 2943 |
|  | **Switzerland - 7.7%** |  |
| 19 | ABB Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1275 |
| 10 | Coca-Cola HBC AG | &nbsp;&nbsp;&nbsp; 505 |
| 17 | Compagnie Financiere Richemont S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2969 |
| 3 | Galderma Group A.G. 144A<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 523 |
| 10 | LAFARGE HOLCIM - RECLAIM<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 837 |
| 1 | Lonza Group AG<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 709 |
| 34 | Nestlé S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3203 |
| 18 | Novartis AG<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2276 |
| 11 | Roche Holding AG<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3578 |
| 9 | Sandoz Group AG<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 565 |
| 7 | Swiss Re AG<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1268 |
| 2 | Zurich Financial Services AG<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1460 |
|  |  | &nbsp;&nbsp; 19168 |
|  | **United Kingdom - 18.1%** |  |
| 38 | 3i Group plc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2064 |
| 13 | AstraZeneca plc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2071 |
| 59 | BAE Systems PLC | &nbsp;&nbsp;&nbsp; 1401 |
| 330 | Barclays plc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1607 |
| 147 | BP plc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 858 |
| 74 | British American Tobacco plc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4186 |
| 53 | Compass Group plc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1799 |

---

---

| | | |
|:---|:---|:---|
| **ZACKS QUALITY INTERNATIONAL ETF** | **ZACKS QUALITY INTERNATIONAL ETF** | **ZACKS QUALITY INTERNATIONAL ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.6% (Continued)** |  |
|  | **United Kingdom - 18.1% (Continued)** |  |
| 23 | Diageo plc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $637 |
| 40 | GSK PLC<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 785 |
| 289 | Haleon PLC<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1417 |
| 412 | HSBC Holdings plc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 5272 |
| 42 | Imperial Brands plc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1772 |
| 2257 | Lloyds Banking Group plc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2426 |
| 8 | London Stock Exchange Group plc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 991 |
| 170 | National Grid plc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2392 |
| 370 | NatWest Group plc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2553 |
| 29 | Reckitt Benckiser Group plc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2168 |
| 26 | RELX plc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1211 |
| 13 | RIO TINTO PLC | &nbsp;&nbsp;&nbsp; 816 |
| 216 | Rolls-Royce Holdings plc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3124 |
| 91 | Shell plc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3350 |
| 34 | Unilever plc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2138 |
|  |  | &nbsp;&nbsp; 45038 |
|  | **TOTAL COMMON STOCKS (Cost $249,129)** | &nbsp;&nbsp; 247496 |
|  | **TOTAL INVESTMENTS - 99.6% (Cost $249,129)** | &nbsp;&nbsp;&nbsp; $247496 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 0.4%** | &nbsp;&nbsp; 910 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $248406 |

---

<sup>(a)</sup> The value of this security has been determined in good faith under policies of the Board of Trustees.

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

<sup>(c)</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 August 31, 2025 the total market value of 144A securities is 4,397 or 1.8% 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:** Zacks Trust

- **b. Investment Company Act file number:** 811-23435

- **c. CIK number of Registrant:** 0001760588

- **d. LEI of Registrant:** 549300OYEV0F3420ER30

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

  - **Street Address 1:** 227 West Monroe Street

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606

  - **Telephone number:** 312-265-9359

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

- **a. Name of Series:** Zacks Quality International ETF

- **b. EDGAR series identifier (if any):** S000093685

- **c. LEI of Series:** 529900G1VN1SHCUZE763

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

- **a. Date of fiscal year-end:** 2025-11-30

- **b. Date as of which information is reported:** 2025-08-31

**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:** $259157.47

**Total Liabilities:** $10750.98

**Net Assets:** $248406.49

**Cash Not Reported:** $939.78

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000262121 | 0.00%                | 0.00%                | 0.00%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $0.00                    | $0.00                                      |
| Month 3  | $-73.20                  | $-1632.67                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Sumitomo Mitsui Financial Group Inc.      | SMFG                      | CUSIP: J7771X109<br>LEI: 35380028MYWPB6AUO129 | Long             | EC               | CORP              | JP        |        48 | NS      | $1322.09      | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| 3i Group PLC                              | 3I GROUP PLC              | CUSIP: G88473148<br>LEI: 35GDVHRBMFE7NWATNM84 | Long             | EC               | CORP              | GB        |        38 | NS      | $2064.03      | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp.                          | SONY GROUP CORP           | CUSIP: J76379106<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |       127 | NS      | $3528.28      | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| National Australia Bank Ltd.              | NATL AUST BANK            | CUSIP: Q65336119<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | EC               | CORP              | AU        |        40 | NS      | $1120.08      | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Compagnie Financiere Richemont Sa         | CIE FINANCI-REG           | CUSIP: H25662182<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |        17 | NS      | $2969.09      | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Nitto Denko Corp.                         | NITTO DENKO CORP          | CUSIP: J58472119<br>LEI: 3538009GX5P09USH2J25 | Long             | EC               | CORP              | JP        |        90 | NS      | $2061.28      | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology S.A.                   | SPOTIFY TECHNOLO          | CUSIP: L8681T102<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |         1 | NS      | $681.88       | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Post AG                          | DHL GROUP                 | CUSIP: D19225107<br>LEI: 8ER8GIG7CSMVD8VUFE78 | Long             | EC               | CORP              | DE        |        15 | NS      | $682.19       | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Macquarie Group Ltd.                      | MACQUARIE GROUP           | CUSIP: Q57085286<br>LEI: ACMHD8HWFMFUIQQ8Y590 | Long             | EC               | CORP              | AU        |         5 | NS      | $736.73       | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomura Research Institute Ltd             | NOMURA RESEARCH           | CUSIP: J5900F106<br>LEI: 5299005F1HCVF4M4QN79 | Long             | EC               | CORP              | JP        |        18 | NS      | $709.87       | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Continental AG                            | CONTINENTAL AG            | CUSIP: D16212140<br>LEI: 529900A7YD9C0LLXM621 | Long             | EC               | CORP              | DE        |         9 | NS      | $789.57       | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Liquide S.A.(L')                      | AIR LIQUIDE SA            | CUSIP: F01764103<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |         7 | NS      | $1442.91      | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Rheinmetall AG                            | RHEINMETALL AG            | CUSIP: D65111102<br>LEI: 5299001OU9CSE29O6S05 | Long             | EC               | CORP              | DE        |         1 | NS      | $1976.25      | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsui & Co Ltd.                          | MITSUI & CO               | CUSIP: J44690139<br>LEI: 2NRSB4GOU9DD6CNW5R48 | Long             | EC               | CORP              | JP        |        33 | NS      | $769.27       | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                                 | SAFRAN SA                 | CUSIP: F4035A557<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |         8 | NS      | $2666.04      | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Volvo AB                                  | VOLVO AB-B                | CUSIP: 928856301<br>LEI: 549300HGV012CNC8JD22 | Long             | EC               | CORP              | SE        |        44 | NS      | $1352.39      | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC Holdings PLC                         | HSBC HOLDINGS PL          | CUSIP: G4634U169<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EC               | CORP              | GB        |       412 | NS      | $5271.38      | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| NatWest Group PLC                         | NATWEST GROUP PL          | CUSIP: G6422B147<br>LEI: 2138005O9XJIJN4JPN90 | Long             | EC               | CORP              | GB        |       370 | NS      | $2553.28      | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Commonwealth Bank of Australia            | COMMONW BK AUSTR          | CUSIP: Q26915100<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | EC               | CORP              | AU        |        40 | NS      | $4457.82      | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Exchange Ltd.                   | SINGAPORE EXCH            | CUSIP: Y79946102<br>LEI: 549300IQ650PPXM76X03 | Long             | EC               | CORP              | SG        |        99 | NS      | $1278.46      | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Daifuku Co Ltd.                           | DAIFUKU CO LTD            | CUSIP: J08988107<br>LEI: 3538006FG1W4X3MYHL36 | Long             | EC               | CORP              | JP        |        44 | NS      | $1406.22      | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel S.p.A.                               | ENEL SPA                  | CUSIP: T3679P115<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |       134 | NS      | $1235.77      | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Munich Reinsurance AG                     | MUENCHENER RUE-R          | CUSIP: D55535104<br>LEI: 529900MUF4C20K50JS49 | Long             | EC               | CORP              | DE        |         2 | NS      | $1274.07      | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC                             | RIO TINTO PLC             | CUSIP: G75754104<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |        13 | NS      | $815.57       | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Group PLC                         | COMPASS GROUP             | CUSIP: G23296208<br>LEI: 2138008M6MH9OZ6U2T68 | Long             | EC               | CORP              | GB        |        53 | NS      | $1799.33      | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresenius Medical Care AG                 | FRESENIUS MEDICA          | CUSIP: D2734Z107<br>LEI: 549300CP8NY40UP89Q40 | Long             | EC               | CORP              | DE        |         9 | NS      | $461.00       | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Brambles Ltd.                             | BRAMBLES LTD              | CUSIP: Q6634U106<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |       122 | NS      | $2071.79      | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonaktiebolaget LM Ericsson (publ)    | ERICSSON LM-B             | CUSIP: W26049119<br>LEI: 549300W9JLPW15XIFM52 | Long             | EC               | CORP              | SE        |        72 | NS      | $572.84       | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Sompo Holdings Inc.                       | SOMPO HOLDINGS I          | CUSIP: J7621A101<br>LEI: 353800CWW4SRGEYEB512 | Long             | EC               | CORP              | JP        |        32 | NS      | $1035.77      | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Diageo PLC                                | DIAGEO PLC                | CUSIP: G42089113<br>LEI: 213800ZVIELEA55JMJ32 | Long             | EC               | CORP              | GB        |        23 | NS      | $636.92       | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Corp.                          | MITSUBISHI CORP           | CUSIP: J43830116<br>LEI: KVIPTY4PULAPGC1VVD26 | Long             | EC               | CORP              | JP        |        45 | NS      | $1026.97      | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid PLC                         | NATIONAL GRID PL          | CUSIP: G6S9A7120<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |       170 | NS      | $2391.75      | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group Inc.       | MITSUBISHI UFJ F          | CUSIP: J44497105<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               | CORP              | JP        |       140 | NS      | $2151.91      | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosus NV                                 | PROSUS NV                 | CUSIP: N7163R103<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | EC               | CORP              | NL        |        34 | NS      | $2100.29      | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Endesa SA - Empresa Nacional Electricidad | ENDESA                    | CUSIP: E41222113<br>LEI: 549300LHK07F2CHV4X31 | Long             | EC               | CORP              | ES        |        36 | NS      | $1096.55      | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Swiss RE AG                               | SWISS RE AG               | CUSIP: H8431B109<br>LEI: 529900PS9YW3YY29F326 | Long             | EC               | CORP              | CH        |         7 | NS      | $1267.62      | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Adyen NV                                  | ADYEN NV                  | CUSIP: N3501V104<br>LEI: 724500973ODKK3IFQ447 | Long             | EC               | CORP              | NL        |         1 | NS      | $1677.86      | 0.68%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Daiwa House Industry Co Ltd.              | DAIWA HOUSE INDU          | CUSIP: J11508124<br>LEI: 353800K9WXR9XRZJZI46 | Long             | EC               | CORP              | JP        |        43 | NS      | $1529.91      | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Axa SA                                    | AXA                       | CUSIP: F06106102<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |        30 | NS      | $1396.30      | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tobacco PLC              | BRIT AMER TOBACC          | CUSIP: G1510J102<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |        74 | NS      | $4185.45      | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| DBS Group Holdings Ltd.                   | DBS GROUP HLDGS           | CUSIP: Y20246107<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |        76 | NS      | $2992.31      | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BASF SE                                   | BASF SE                   | CUSIP: D06216317<br>LEI: 529900PM64WH8AF1E917 | Long             | EC               | CORP              | DE        |        21 | NS      | $1114.24      | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Wesfarmers Ltd.                           | WESFARMERS LTD            | CUSIP: Q95870103<br>LEI: 5493003L32ZX9557ST85 | Long             | EC               | CORP              | AU        |        42 | NS      | $2523.41      | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Asics Corp                                | ASICS CORP                | CUSIP: J03234150<br>LEI: 3538002LJMRZ83SU0B85 | Long             | EC               | CORP              | JP        |        19 | NS      | $516.99       | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| SoftBank Corp                             | SOFTBANK CORP             | CUSIP: J75963132<br>LEI: 353800M1YCTS9JRBJ535 | Long             | EC               | CORP              | JP        |       516 | NS      | $801.21       | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens Energy AG                         | SIEMENS ENERGY A          | CUSIP: D6T47E106<br>LEI: 5299005CHJZ14D4FDJ62 | Long             | EC               | CORP              | DE        |        15 | NS      | $1591.77      | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyo Gas Co Ltd                          | Tokyo Gas Co Ltd          | CUSIP: J87000113<br>LEI: 353800678EIJLOQSWZ83 | Long             | EC               | CORP              | JP        |        16 | NS      | $613.14       | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Danone SA                                 | Danone SA                 | CUSIP: F12033134<br>LEI: 969500KMUQ2B6CBAF162 | Long             | EC               | CORP              | FR        |        14 | NS      | $1165.66      | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Anheuser-Busch Inbev SA/NV                | Anheuser-Busch InBev SA/N | CUSIP: B639CJ108<br>LEI: 5493008H3828EMEXB082 | Long             | EC               | CORP              | BE        |        15 | NS      | $939.41       | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Electric Industries Ltd.         | SUMITOMO ELEC IN          | CUSIP: J77411114<br>LEI: 5493005SP87FL5TOS202 | Long             | EC               | CORP              | JP        |        61 | NS      | $1744.49      | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresenius SE & Co. KGaA                   | FRESENIUS SE & C          | CUSIP: D27348263<br>LEI: XDFJ0CYCOO1FXRFTQS51 | Long             | EC               | CORP              | DE        |        10 | NS      | $542.87       | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Telekom AG                       | DEUTSCHE TELEKOM          | CUSIP: D2035M136<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |        99 | NS      | $3615.37      | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola HBC AG                          | Coca-Cola HBC AG          | CUSIP: H1512E100<br>LEI: 549300EFP3TNG7JGVE49 | Long             | EC               | CORP              | CH        |        10 | NS      | $504.92       | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| UCB SA                                    | UCB SA                    | CUSIP: B93562120<br>LEI: 2138008J191VLSGY5A09 | Long             | EC               | CORP              | BE        |         2 | NS      | $467.54       | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Imperial Brands PLC                       | IMPERIAL BRANDS           | CUSIP: G4720C107<br>LEI: 549300DFVPOB67JL3A42 | Long             | EC               | CORP              | GB        |        42 | NS      | $1772.14      | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton SE       | LVMH MOET HENNE           | CUSIP: F58485115<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |         2 | NS      | $1179.32      | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                           | ASTRAZENECA PLC           | CUSIP: G0593M107<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |        13 | NS      | $2071.44      | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| AIA Group Ltd, Hong Kong                  | AIA                       | CUSIP: Y002A1105<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |       153 | NS      | $1440.61      | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever PLC                              | UNILEVER PLC              | CUSIP: G92087165<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |        34 | NS      | $2137.64      | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                                    | BP PLC                    | CUSIP: G12793108<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |       147 | NS      | $858.46       | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| L'Oreal S.A.                              | L'OREAL                   | CUSIP: F58149133<br>LEI: 529900JI1GG6F7RKVI53 | Long             | EC               | CORP              | FR        |         3 | NS      | $1396.30      | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| DSV AS                                    | DSV A/S                   | CUSIP: K31864117<br>LEI: 529900X41C0BSLK67H70 | Long             | EC               | CORP              | DK        |         5 | NS      | $1107.20      | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA        | BBVA                      | CUSIP: E11805103<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |       175 | NS      | $3170.84      | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Societe Generale S.A.                     | SOC GENERALE SA           | CUSIP: F8591M517<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | EC               | CORP              | FR        |        32 | NS      | $1973.38      | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| CK Hutchison Holdings Ltd.                | CKH HOLDINGS              | CUSIP: G21765105<br>LEI: 254900Z8HM1VEPOQ2G79 | Long             | EC               | CORP              | KY        |        79 | NS      | $520.39       | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                          | TOTALENERGIES SE          | CUSIP: F92124100<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |        19 | NS      | $1189.03      | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Holcim AG                                 | HOLCIM LTD                | CUSIP: H3816Q102<br>LEI: 529900EHPFPYHV6IQO98 | Long             | EC               | CORP              | CH        |        10 | NS      | $837.33       | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Softbank Group Corp.                      | SoftBank Group Corp       | CUSIP: J7596P109<br>LEI: 5493003BZYYYCDIO0R13 | Long             | EC               | CORP              | JP        |        10 | NS      | $1104.33      | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Assicurazioni Generali S.p.A.             | GENERALI                  | CUSIP: T05040109<br>LEI: 549300X5UKJVE386ZB61 | Long             | EC               | CORP              | IT        |        30 | NS      | $1170.66      | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Telia Company AB                          | TELIA CO AB               | CUSIP: W95890104<br>LEI: 213800FSR9RNDUOTXO25 | Long             | EC               | CORP              | SE        |       273 | NS      | $1018.22      | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Nordea Bank ABP                           | NORDEA BANK ABP           | CUSIP: X5S8VL105<br>LEI: 529900ODI3047E2LIV03 | Long             | EC               | CORP              | FI        |       132 | NS      | $2013.43      | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Reckitt Benckiser Group PLC               | RECKITT BENCKISE          | CUSIP: G74079107<br>LEI: 5493003JFSMOJG48V108 | Long             | EC               | CORP              | GB        |        29 | NS      | $2167.40      | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Intesa Sanpaolo S.p.A.                    | INTESA SANPAOLO           | CUSIP: T55067101<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | EC               | CORP              | IT        |       565 | NS      | $3552.32      | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| QBE Insurance Group Ltd.                  | QBE INSURANCE             | CUSIP: Q78063114<br>LEI: 549300D2FBW76FPUSG65 | Long             | EC               | CORP              | AU        |        32 | NS      | $453.37       | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle SA                                 | NESTLE SA-REG             | CUSIP: H57312649<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |        34 | NS      | $3203.43      | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Allianz SE                                | ALLIANZ SE-REG            | CUSIP: D03080112<br>LEI: 529900K9B0N5BT694847 | Long             | EC               | CORP              | DE        |        11 | NS      | $4647.56      | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| ArcelorMittal S.A.                        | ArcelorMittal             | CUSIP: L0302D210<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | EC               | CORP              | LU        |        39 | NS      | $1298.33      | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Mizuho Financial Group Inc.               | MIZUHO FINANCIAL          | CUSIP: J4599L102<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | EC               | CORP              | JP        |        87 | NS      | $2897.69      | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Legrand SA                                | LEGRAND SA                | CUSIP: F56196185<br>LEI: 969500XXRPGD7HCAFA90 | Long             | EC               | CORP              | FR        |         3 | NS      | $456.54       | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Heidelberg Materials AG                   | HEIDELBERG MATER          | CUSIP: D31709104<br>LEI: LZ2C6E0W5W7LQMX5ZI37 | Long             | EC               | CORP              | DE        |         2 | NS      | $472.57       | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercedes-Benz Group AG                    | MERCEDES-BENZ GR          | CUSIP: D1668R123<br>LEI: 529900R27DL06UVNT076 | Long             | EC               | CORP              | DE        |         9 | NS      | $561.64       | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                                 | AIRBUS SE                 | CUSIP: N0280G100<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | NL        |        11 | NS      | $2303.97      | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Takeda Pharmaceutical Co Ltd.             | Takeda Pharmaceutical Co  | CUSIP: J8129E108<br>LEI: 549300ZLMVP4X0OGR454 | Long             | EC               | CORP              | JP        |        19 | NS      | $571.55       | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Chugai Pharmaceutical Co Ltd.             | CHUGAI PHARMA CO          | CUSIP: J06930101<br>LEI: 529900T9LAII161DCN95 | Long             | EC               | CORP              | JP        |        23 | NS      | $1018.64      | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander, S.A.                     | BANCO SANTANDER           | CUSIP: E19790109<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EC               | CORP              | ES        |       243 | NS      | $2319.43      | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| ABB Ltd.                                  | ABB LTD-REG               | CUSIP: H0010V101<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |        19 | NS      | $1274.65      | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Galderma Group AG                         | GALDERMA GROUP A          | CUSIP: H3301B107<br>LEI: 89450001OK6O8ELQ4584 | Long             | EC               | CORP              | CH        |         3 | NS      | $523.40       | 0.21%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Novo Nordisk A/S                          | NOVO NORDISK-B            | CUSIP: K72807140<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |        37 | NS      | $2080.50      | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Experian PLC                              | EXPERIAN PLC              | CUSIP: G32655105<br>LEI: 635400RXXHHYT1JTSZ26 | Long             | EC               | CORP              | JE        |        15 | NS      | $776.84       | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurich Insurance Group AG                 | ZURICH INSURANCE          | CUSIP: H9870Y105<br>LEI: 529900QVNRBND50TXP03 | Long             | EC               | CORP              | CH        |         2 | NS      | $1460.71      | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyo Electron Ltd.                       | TOKYO ELECTRON            | CUSIP: J86957115<br>LEI: 549300H5LSF8DP3RIJ34 | Long             | EC               | CORP              | JP        |         8 | NS      | $1124.88      | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| KDDI Corp                                 | KDDI CORP                 | CUSIP: J31843105<br>LEI: 5299003FU7V4I45FU310 | Long             | EC               | CORP              | JP        |        76 | NS      | $1318.92      | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Infineon Technologies AG                  | INFINEON TECH             | CUSIP: D35415104<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |        33 | NS      | $1349.49      | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Capcom Co Ltd.                            | CAPCOM CO LTD             | CUSIP: J05187109<br>LEI: 529900JJWQKXS3TC8744 | Long             | EC               | CORP              | JP        |        18 | NS      | $490.52       | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Lonza Group AG                            | LONZA GROUP -REG          | CUSIP: H50524133<br>LEI: 549300EFW4H2TCZ71055 | Long             | EC               | CORP              | CH        |         1 | NS      | $708.61       | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider Electric SE                     | SCHNEIDER ELECTR          | CUSIP: F86921107<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |         6 | NS      | $1474.21      | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Electric Corp.                 | MITSUB ELEC CORP          | CUSIP: J43873116<br>LEI: 549300TRXM9Y6561AX39 | Long             | EC               | CORP              | JP        |        76 | NS      | $1836.82      | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Engie SA                                  | ENGIE                     | CUSIP: F7629A107<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | EC               | CORP              | FR        |        21 | NS      | $434.54       | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Shin-Etsu Chemical Co Ltd.                | SHIN-ETSU CHEM            | CUSIP: J72810120<br>LEI: 353800PX8Q64N86H5W41 | Long             | EC               | CORP              | JP        |        17 | NS      | $527.12       | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Panasonic Holdings Corp.                  | PANASONIC HOLDIN          | CUSIP: J6354Y104<br>LEI: 254900GE1G59KGWPHX32 | Long             | EC               | CORP              | JP        |        75 | NS      | $773.13       | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| NTT Inc.                                  | NTT INC                   | CUSIP: J59396101<br>LEI: 353800VHQU5VIXVUA841 | Long             | EC               | CORP              | JP        |       727 | NS      | $770.70       | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Orkla ASA                                 | ORKLA ASA                 | CUSIP: R67787102<br>LEI: 549300PZS8G8RG6RVZ52 | Long             | EC               | CORP              | NO        |       116 | NS      | $1295.87      | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding N.V.                         | ASML HOLDING NV           | CUSIP: N07059202<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |         5 | NS      | $3723.24      | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                          | ROCHE HLDG-GENUS          | CUSIP: H69293217<br>LEI: 549300U41AUUVOAAOB37 | Long             | EP               | CORP              | CH        |        11 | NS      | $3578.41      | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK plc                                   | GSK PLC                   | CUSIP: G3910J179<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |        40 | NS      | $785.22       | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Vinci SA                                  | VINCI SA                  | CUSIP: F5879X108<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |        13 | NS      | $1762.43      | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Boerse AG                        | DEUTSCHE BOERSE           | CUSIP: D1882G119<br>LEI: 529900G3SW56SHYNPR95 | Long             | EC               | CORP              | DE        |         4 | NS      | $1177.21      | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Aena SME S.A.                             | AENA SME SA               | CUSIP: E526LK101<br>LEI: 959800R7QMXKF0NFMT29 | Long             | EC               | CORP              | ES        |        38 | NS      | $1099.68      | 0.44%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Novartis AG                               | NOVARTIS AG-REG           | CUSIP: H5820Q150<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |        18 | NS      | $2275.64      | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Hermes International                      | HERMES INTL               | CUSIP: F48051100<br>LEI: 969500Y4IJGHJE2MTJ13 | Long             | EC               | CORP              | FR        |         1 | NS      | $2445.90      | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Heavy Industries Ltd.          | MITSUBISHI HEAVY          | CUSIP: J44002178<br>LEI: 353800TJ98PCAZROVE69 | Long             | EC               | CORP              | JP        |       111 | NS      | $2834.53      | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola, S.A.                           | IBERDROLA SA              | CUSIP: E6165F166<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |        91 | NS      | $1711.11      | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                                    | SAP SE                    | CUSIP: D66992104<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |        19 | NS      | $5149.49      | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                 | SHELL PLC                 | CUSIP: G80827101<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |        91 | NS      | $3350.15      | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Telecommunications Ltd.         | SINGAPORE TELECO          | CUSIP: Y79985209<br>LEI: 2549003XJKIQO8YDYD89 | Long             | EC               | CORP              | SG        |       576 | NS      | $1934.77      | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Corp.                            | Sumitomo Corp             | CUSIP: J77282119<br>LEI: V82KK8NH1P0JS71FJC05 | Long             | EC               | CORP              | JP        |        22 | NS      | $620.78       | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Computershare Ltd.                        | COMPUTERSHARE LT          | CUSIP: Q2721E105<br>LEI: 21380085HOKTMGLV9G93 | Long             | EC               | CORP              | AU        |        34 | NS      | $849.28       | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Fujitsu Ltd.                              | FUJITSU LTD               | CUSIP: J15708159<br>LEI: 3538000246DHJLRTUZ24 | Long             | EC               | CORP              | JP        |        43 | NS      | $1046.28      | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| UniCredit S.p.A.                          | UNICREDIT SPA             | CUSIP: T9T23L642<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |        41 | NS      | $3167.20      | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE Systems PLC                           | BAE SYSTEMS PLC           | CUSIP: G06940103<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |        59 | NS      | $1401.41      | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| CSL Ltd.                                  | CSL LTD                   | CUSIP: Q3018U109<br>LEI: 529900ECSECK5ZDQTE14 | Long             | EC               | CORP              | AU        |         4 | NS      | $557.27       | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Nintendo Co Ltd.                          | NINTENDO CO LTD           | CUSIP: J51699106<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |        27 | NS      | $2445.24      | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP Group Ltd.                            | BHP GROUP LTD             | CUSIP: Q1498M100<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |        48 | NS      | $1356.67      | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Industria De Diseno Textil SA             | INDITEX                   | CUSIP: E6282J125<br>LEI: 549300TTCXZOGZM2EY83 | Long             | EC               | CORP              | ES        |        32 | NS      | $1579.60      | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Fast Retailing Co Ltd.                    | Fast Retailing Co Ltd     | CUSIP: J1346E100<br>LEI: 353800ZCXKHDPY0N5218 | Long             | EC               | CORP              | JP        |         3 | NS      | $949.60       | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ING Groep N.V.                            | ING GROEP NV              | CUSIP: N4578E595<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EC               | CORP              | NL        |        54 | NS      | $1286.05      | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays PLC                              | BARCLAYS PLC              | CUSIP: G08036124<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EC               | CORP              | GB        |       330 | NS      | $1607.36      | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Relx PLC                                  | RELX PLC                  | CUSIP: G7493L105<br>LEI: 549300WSX3VBUFFJOO66 | Long             | EC               | CORP              | GB        |        26 | NS      | $1210.89      | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokio Marine Holdings Inc.                | TOKIO MARINE HD           | CUSIP: J86298106<br>LEI: 5299009QN2NZ191KLS29 | Long             | EC               | CORP              | JP        |        25 | NS      | $1088.85      | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Hitachi Ltd.                              | HITACHI LTD               | CUSIP: J20454112<br>LEI: 549300T6IPOCDWLKC615 | Long             | EC               | CORP              | JP        |        94 | NS      | $2589.74      | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ANZ Group Holdings Ltd.                   | AUST AND NZ BANK          | CUSIP: Q0429F119<br>LEI: 9845005D9C6BAA10BK72 | Long             | EC               | CORP              | AU        |        43 | NS      | $947.46       | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| EssilorLuxottica SA                       | ESSILORLUXOTTICA          | CUSIP: F31665106<br>LEI: 549300M3VH1A3ER1TB49 | Long             | EC               | CORP              | FR        |        11 | NS      | $3347.99      | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| WH Group Ltd.                             | WH GROUP LTD              | CUSIP: G96007102<br>LEI: 254900A4AYEDRWYSE928 | Long             | EC               | CORP              | KY        |      1024 | NS      | $1095.53      | 0.44%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Toyota Motor Corp.                        | TOYOTA MOTOR              | CUSIP: J92676113<br>LEI: 5493006W3QUS5LMH6R84 | Long             | EC               | CORP              | JP        |        99 | NS      | $1935.31      | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Compagnie de Saint-Gobain SA              | SAINT GOBAIN              | CUSIP: F80343100<br>LEI: NFONVGN05Z0FMN5PEC35 | Long             | EC               | CORP              | FR        |        21 | NS      | $2264.83      | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                                 | SANOFI                    | CUSIP: F5548N101<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |        19 | NS      | $1877.78      | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Haleon PLC                                | HALEON PLC                | CUSIP: G4232K100<br>LEI: 549300PSB3WWEODCUP19 | Long             | EC               | CORP              | GB        |       289 | NS      | $1417.42      | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| KBC Group NV                              | KBC GROUP                 | CUSIP: B5337G162<br>LEI: 213800X3Q9LSAKRUWY91 | Long             | EC               | CORP              | BE        |         8 | NS      | $942.80       | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| London Stock Exchange Group PLC           | LONDON STOCK EX           | CUSIP: G5689U103<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |         8 | NS      | $991.24       | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Advantest Corp.                           | ADVANTEST CORP            | CUSIP: J00210104<br>LEI: 353800EMK32PDKS9XR54 | Long             | EC               | CORP              | JP        |        13 | NS      | $1032.71      | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ITOCHU Corp.                              | ITOCHU CORP               | CUSIP: J2501P104<br>LEI: J48DJYXDTLHM30UMYI18 | Long             | EC               | CORP              | JP        |        20 | NS      | $1142.71      | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Rolls-Royce Holdings PLC                  | ROLLS-ROYCE HOLD          | CUSIP: G76225104<br>LEI: 213800EC7997ZBLZJH69 | Long             | EC               | CORP              | GB        |       216 | NS      | $3123.58      | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Recruit Holdings Co Ltd.                  | RECRUIT HOLDINGS          | CUSIP: J6433A101<br>LEI: 353800R2LRSMVVC4I806 | Long             | EC               | CORP              | JP        |        15 | NS      | $875.60       | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                            | BNP PARIBAS               | CUSIP: F1058Q238<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |        26 | NS      | $2336.62      | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Sandoz Group AG                           | SANDOZ GROUP AG           | CUSIP: H7140B103<br>LEI: 5493000JWK6XWFEUD320 | Long             | EC               | CORP              | CH        |         9 | NS      | $564.19       | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Oversea-Chinese Banking Corp Ltd.         | OCBC BANK                 | CUSIP: Y64248209<br>LEI: 5493007O3QFXCPOGWK22 | Long             | EC               | CORP              | SG        |        78 | NS      | $1017.61      | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Toray Industries Inc.                     | TORAY INDUSTRIES          | CUSIP: J89494116<br>LEI: 35380099TCYR5FHT0A11 | Long             | EC               | CORP              | JP        |       154 | NS      | $1040.83      | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd.       | HKEX                      | CUSIP: Y3506N139<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |        55 | NS      | $3181.98      | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Lloyds Banking Group PLC                  | LLOYDS BANKING            | CUSIP: G5533W248<br>LEI: 549300PPXHEU2JF0AM85 | Long             | EC               | CORP              | GB        |      2257 | NS      | $2425.63      | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| DISCO Corp.                               | DISCO CORP                | CUSIP: J12327102<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |         2 | NS      | $562.71       | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                                | SIEMENS AG-REG            | CUSIP: D69671218<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |        18 | NS      | $4981.64      | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-26

**Name of Applicant:** Zacks Trust

**Signature:** Edward Kelly

**Name of Signer:** Edward Kelly

**Title:** Assistant Treasurer