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      </invstOrSec>
      <invstOrSec>
        <name>The Options Clearing Corp</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>SPY 03/31/27 C700.00 Euro Cash Flex</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="OCC" value="4SPY  270331C00700000"/>
        </identifiers>
        <balance>12.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>106135.44000000</valUSD>
        <pctVal>0.324617476920</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS</counterpartyName>
              <counterpartyLei>FOR8UP27PHTHYVLBNG30</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>The Options Clearing Corp</issuerName>
                <issueTitle>OTHER</issueTitle>
                <identifiers>
                  <cusip value="78462F103"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>700.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-03-31</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>33273.90000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STATE STREET INSTITUTIONAL US</name>
        <lei>549300BZ5TGIFZUZDZ37</lei>
        <title>STATE STREET INST U.S. GOVERNMENT MMKT ADMN CLASS</title>
        <cusip>857492656</cusip>
        <identifiers>
          <isin value="US8574926569"/>
          <ticker value="SALXX"/>
        </identifiers>
        <balance>30459.18000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30459.18000000</valUSD>
        <pctVal>0.093160043060</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Treasury Bill</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>TREASURY BILL B 03/18/27</title>
        <cusip>912797UD7</cusip>
        <identifiers>
          <isin value="US912797UD79"/>
        </identifiers>
        <balance>29820800.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>29014041.79000000</valUSD>
        <pctVal>88.74005743166</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-18</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Elevation Series Trust</ncom:nameOfApplicant>
      <ncom:signature>Nick Austin</ncom:signature>
      <ncom:signerName>Nick Austin</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
