0001752724-23-246486.txt : 20231113 0001752724-23-246486.hdr.sgml : 20231113 20231113154005 ACCESSION NUMBER: 0001752724-23-246486 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230831 FILED AS OF DATE: 20231113 DATE AS OF CHANGE: 20231113 EFFECTIVENESS DATE: 20231113 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Elevation Series Trust CENTRAL INDEX KEY: 0001936157 IRS NUMBER: 882465192 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-23812 FILM NUMBER: 231398239 BUSINESS ADDRESS: STREET 1: 1700 BROADWAY STREET 2: SUITE 1850 CITY: DENVER STATE: CO ZIP: 80290 BUSINESS PHONE: 7202128740 MAIL ADDRESS: STREET 1: 1700 BROADWAY STREET 2: SUITE 1850 CITY: DENVER STATE: CO ZIP: 80290 FORMER COMPANY: FORMER CONFORMED NAME: Consortio Funds Trust DATE OF NAME CHANGE: 20220630

0001936157 S000077516 SRH U.S. Quality ETF

C000237993 SRH U.S. Quality ETF

N-CEN 1 primary_doc.xml X0404 N-CEN LIVE 0001936157 XXXXXXXX 811-23812 N-1A S000077516 true Elevation Series Trust 811-23812 0001936157 549300QVQ3VLO2G2BM75 1700 Broadway Suite 1850 Denver 80290 US-CO US 877-524-9155 Paralel Technologies LLC 1700 Broadway Suite 1850 Denver 80290 303-226-4150 All applicable accounts, books and documents required to be maintained by the Fund by Section 31(a) of the 1940 Act and the Rules promulgated thereunder are in the possession and custody of the Fund, c/o Paralel Technologies LLC. Y N N N-1A 1 Y Steven K. Noorgard N/A N Kimberly Storms 004125621 N Bradley J. Swenson 002666663 Y Brenna Fudjack 006014057 1700 Broadway Suite 1850 Denver 80290 XXXXXX N N N N N N Paralel Distributors LLC 8-70771 000316115 5493009VS9HW870GQ698 Y Y Cohen & Company 925 N/A N N N N N N N SRH U.S. Quality ETF S000077516 549300FOIF2UHQAIVF47 Y 1 0 0 Exchange-Traded Fund Y Y -0.0002 -0.0044 0.0022 0.0022 N N N N N/A 0 0 Rule 6c-11 (17 CFR 270.6c-11) Rule 32a-4 (17 CFR 270.32a-4) N N N N Paralel Advisors LLC 801-122468 000315804 5493000Y2SW5VHHE7G86 2022-10-05 Vident Advisory, LLC 801-114538 000286622 2549006O7NBGRQ97Z707 N State Street Bank and Trust Company 85-05003 571474TGEMMWANRLN572 N N Y ICE Data Pricing & Reference Data, LLC. 5493000NQ9LYLDBCTL34 N N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) Y N Paralel Technologies LLC N/A Y N Y CREDIT SUISSE SECURITIES (USA) LLC 8-422 000000816 1V8Y6QCX6YMJ2OELII46 13443.00000000 13443.00000000 0.00000000 N 107560294.00000000 N N N SRH U.S. Quality ETF S000077516 N 50000 0.13 0.10 99.87 0.12 -0.08 0 100.02 0 0 450 0 0 450 0 0 0 0 0 0 0 Y Y -0.0002 -0.0044 0.0022 0.0022 Y false false true false false false INTERNAL CONTROL RPT 2 fp0085913-1_g1aiii.htm

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders of SRH U.S. Quality ETF and

Board of Trustees of Elevation Series Trust

In planning and performing our audit of the financial statements of SRH U.S. Quality ETF (the “Fund”), a series of Elevation Series Trust, as of and for the period from October 4, 2022 (commencement of operations) through August 31, 2023, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Fund’s internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion.

The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A fund’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles (GAAP). A fund’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that receipts and expenditures of the fund are being made only in accordance with authorizations of management and trustees of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a fund’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Fund’s annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Fund’s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Fund’s internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of August 31, 2023.

This report is intended solely for the information and use of management and the Board of Trustees of the Fund and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

COHEN & COMPANY, LTD.

Cleveland, Ohio

October 26, 2023