# EDGAR Filing Document

**Accession Number:** 0001576367
**File Stem:** 0001752724-23-027394
**Filing Date:** 2023-2
**Character Count:** 91567
**Document Hash:** 16b3f2017fe4f5baed0610962e52c7dc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-027394.hdr.sgml**: 20230217

**ACCESSION NUMBER**: 0001752724-23-027394

**CONFORMED SUBMISSION TYPE**: NPORT-P/A

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20220930

**FILED AS OF DATE**: 20230217

**DATE AS OF CHANGE**: 20230217

**PERIOD START**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FORUM FUNDS II
- **CENTRAL INDEX KEY:** 0001576367
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22842
- **FILM NUMBER:** 23640749

**BUSINESS ADDRESS:**
- **STREET 1:** THREE CANAL PLAZA, SUITE 600
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04101
- **BUSINESS PHONE:** 207-347-2000

**MAIL ADDRESS:**
- **STREET 1:** THREE CANAL PLAZA, SUITE 600
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04101

## Series and Classes Contracts Data

### Acuitas US Microcap Fund (Series ID: S000045890)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000142990 | Institutional Shares | AFMCX           |

## Nport-Ex

ACUITAS

US

MICROCAP

FUND

SCHEDULE

OF

INVESTMENTS

(Unaudited)

September

30,

2022

Shares

Security

Description

Value

Common

Stock

-

96.0%

Basic

Materials

-

2.8%

18,993

AdvanSix,

Inc.

$

609,675

63,388

LifeMD,

Inc.

(a) 124,874

21,509

Northern

Technologies

International

Corp.

286,285

16,847

Orion

Engineered

Carbons

SA

224,908

2,800

Ryerson

Holding

Corp.

72,072

3,159

Snow

Lake

Resources,

Ltd.

(a) 5,560

1,323,374

Consumer

Discretionary

-

9.9%

15,400

Alta

Equipment

Group,

Inc.

169,554

67,093

Charles

&

Colvard,

Ltd.

(a) 64,986

15,420

Chicken

Soup

For

The

Soul

Entertainment,

Inc.

(a) 106,090

18,400

Chico's

FAS,

Inc.

(a) 89,056

20,000

Entravision

Communications

Corp.,

Class A

79,400

258,675

Fluent,

Inc.

(a) 349,211

11,900

Green

Brick

Partners,

Inc.

(a) 254,422

14,495

Guess?,

Inc.

212,642

1,800

Hibbett,

Inc.

89,658

12,800

Hudson

Technologies,

Inc.

(a) 94,080

54,666

Interface,

Inc.

491,447

26,546

Motorcar

Parts

of

America,

Inc.

(a) 404,030

4,700

Shoe

Carnival,

Inc.

100,768

18,705

Stoneridge,

Inc.

(a) 317,050

19,285

The

Beauty

Health

Co.

(a) 227,370

8,983

The

Children's

Place,

Inc.

(a) 277,485

8,740

The

Lovesac

Co.

(a) 178,121

25,557

The

ONE

Group

Hospitality,

Inc.

(a) 169,699

52,400

Tilly's,

Inc.,

Class A

(a) 362,608

2,512

Winmark

Corp.

543,446

9,360

Zumiez,

Inc.

(a) 201,521

4,782,644

Consumer

Staples

-

2.0%

7,564

Calavo

Growers,

Inc.

240,157

38,900

Cronos

Group,

Inc.

(a) 109,698

MGP

Ingredients,

Inc.

34,396

2,900

The

Chefs'

Warehouse,

Inc.

(a) 84,013

6,815

The

Vita

Coco

Co.,

Inc.

(a) 77,623

22,558

Village

Super

Market,

Inc.,

Class A

436,046

981,933

Energy

-

4.8%

60,504

Berry

Corp.

453,780

9,650

Civitas

Resources,

Inc.

553,813

43,610

Geospace

Technologies

Corp.

(a) 192,320

900

Nabors

Industries,

Ltd.

(a) 91,305

52,805

Newpark

Resources,

Inc.

(a) 133,069

10,800

NOW,

Inc.

(a) 108,540

14,200

Oil

States

International,

Inc.

(a) 55,238

3,100

Ranger

Oil

Corp.

97,495

9,600

SandRidge

Energy,

Inc.

(a) 156,576

10,870

Stabilis

Solutions,

Inc.

(a) 84,134

88,940

VAALCO

Energy,

Inc.

387,778

2,314,048

Financials

-

11.1%

9,100

B

Riley

Financial,

Inc.

405,132

6,200

Central

Valley

Community

Bancorp

109,802

12,425

Customers

Bancorp,

Inc.

(a) 366,289

11,530

Enova

International,

Inc.

(a) 337,483

3,800

Financial

Institutions,

Inc.

91,466

4,600

First

Internet

Bancorp

155,756

9,185

First

Western

Financial,

Inc.

(a) 226,410

5,900

Hanmi

Financial

Corp.

139,712

Shares

Security

Description

Value

Financials

-

11.1%

(continued)

10,300

Heritage

Commerce

Corp.

$

116,802

4,950

Horizon

Bancorp,

Inc.

88,902

4,000

International

Money

Express,

Inc.

(a) 91,160

14,957

James

River

Group

Holdings,

Ltd.

341,169

3,325

LendingTree,

Inc.

(a) 79,335

48,365

Medallion

Financial

Corp.

339,522

2,500

Metropolitan

Bank

Holding

Corp.

(a) 160,900

3,700

Mid

Penn

Bancorp,

Inc.

106,301

13,265

NMI

Holdings,

Inc.,

Class A

(a) 270,208

12,750

Northrim

BanCorp,

Inc.

529,890

11,100

OP

Bancorp

123,432

2,900

Peapack-Gladstone

Financial

Corp.

97,585

1,400

Preferred

Bank/Los

Angeles

CA

91,322

5,552

QCR

Holdings,

Inc.

282,819

6,235

Regional

Management

Corp.

174,829

38,800

Selectquote,

Inc.

(a) 28,324

5,565

Texas

Capital

Bancshares,

Inc.

(a) 328,502

5,000

The

First

of

Long

Island

Corp.

86,200

94,825

United

Insurance

Holdings

Corp.

60,736

4,675

Veritex

Holdings,

Inc.

124,308

5,354,296

Health

Care

-

22.2%

15,691

908

Devices,

Inc.

(a) 258,117

38,985

Affimed

NV

(a) 80,309

40,000

Agenus,

Inc.

(a) 82,000

10,630

Akoya

Biosciences,

Inc.

(a) 124,902

16,800

Aldeyra

Therapeutics,

Inc.

(a) 89,712

6,000

Altimmune,

Inc.

(a) 76,620

4,500

AngioDynamics,

Inc.

(a) 92,070

41,400

Assertio

Holdings,

Inc.

(a) 93,978

2,900

Avanos

Medical,

Inc.

(a) 63,162

36,220

Avid

Bioservices,

Inc.

(a) 692,526

33,058

BioLife

Solutions,

Inc.

(a) 752,070

14,660

Bluebird

Bio,

Inc.

(a) 92,798

16,300

Butterfly

Network,

Inc.

(a) 76,610

10,265

Caribou

Biosciences,

Inc.

(a) 108,296

10,835

Castle

Biosciences,

Inc.

(a) 282,577

11,300

Catalyst

Pharmaceuticals,

Inc.

(a) 144,979

3,300

Celldex

Therapeutics,

Inc.

(a) 92,763

4,900

Chinook

Therapeutics,

Inc.

(a) 96,334

116,975

ChromaDex

Corp.

(a) 143,879

16,400

Concert

Pharmaceuticals,

Inc.

(a) 109,880

20,700

Cymabay

Therapeutics,

Inc.

(a) 72,450

35,220

CytoSorbents

Corp.

(a) 47,899

28,878

DermTech,

Inc.

(a) 114,357

9,300

Dynavax

Technologies

Corp.

(a) 97,092

2,300

Eagle

Pharmaceuticals,

Inc.

(a) 60,766

24,300

Geron

Corp.

(a) 56,862

170,050

Harvard

Bioscience,

Inc.

(a) 435,328

14,154

Health

Catalyst,

Inc.

(a) 137,294

1,991

Heska

Corp.

(a) 145,184

33,960

iCAD,

Inc.

(a) 71,316

39,610

ImmunoGen,

Inc.

(a) 189,336

57,704

InfuSystem

Holdings,

Inc.

(a) 403,351

19,421

Inogen,

Inc.

(a) 471,542

9,642

Inotiv,

Inc.

(a) 162,468

2,200

iRadimed

Corp.

66,132

3,000

iTeos

Therapeutics,

Inc.

(a) 57,150

17,805

Kezar

Life

Sciences,

Inc.

(a) 153,301

7,645

Kiniksa

Pharmaceuticals,

Ltd.,

Class A

(a) 98,162

30,410

KORU

Medical

Systems,

Inc.

(a) 67,814

29,100

Lexicon

Pharmaceuticals,

Inc.

(a) 69,840

13,500

Liquidia

Corp.

(a) 73,440

ACUITAS

US

MICROCAP

FUND

SCHEDULE

OF

INVESTMENTS

(Unaudited)

September

30,

2022

Shares

Security

Description

Value

Health

Care

-

22.2%

(continued)

24,900

MannKind

Corp.

(a) $

76,941

7,930

MaxCyte,

Inc.

(a) 51,545

6,200

Myers

Industries,

Inc.

102,114

5,860

Nature's

Sunshine

Products,

Inc.

(a) 48,286

7,800

Nurix

Therapeutics,

Inc.

(a) 101,634

8,780

OrthoPediatrics

Corp.

(a) 405,109

4,600

Phibro

Animal

Health

Corp.,

Class A

61,134

6,110

Pliant

Therapeutics,

Inc.

(a) 127,638

4,888

Prothena

Corp.

PLC

(a) 296,359

2,600

Rhythm

Pharmaceuticals,

Inc.

(a) 63,700

4,200

Rocket

Pharmaceuticals,

Inc.

(a) 67,032

16,860

Semler

Scientific,

Inc.

(a) 633,093

7,200

Sensus

Healthcare,

Inc.

(a) 90,216

18,400

Seres

Therapeutics,

Inc.

(a) 118,128

21,471

SI-BONE,

Inc.

(a) 374,884

42,060

SIGA

Technologies,

Inc.

(a) 433,218

5,235

Silk

Road

Medical,

Inc.

(a) 235,575

7,369

Stoke

Therapeutics,

Inc.

(a) 94,618

3,000

TransMedics

Group,

Inc.

(a) 125,220

6,800

Vanda

Pharmaceuticals,

Inc.

(a) 67,184

63,100

Verastem,

Inc.

(a) 53,635

24,800

ViewRay,

Inc.

(a) 90,272

9,481

Xenon

Pharmaceuticals,

Inc.

(a) 342,264

10,664,465

Industrials

-

23.0%

37,737

AerSale

Corp.

(a) 699,644

11,191

Allied

Motion

Technologies,

Inc.

320,286

9,350

Argan,

Inc.

300,790

3,825

Barrett

Business

Services,

Inc.

298,350

1,800

BlueLinx

Holdings,

Inc.

(a) 111,780

50,850

CECO

Environmental

Corp.

(a) 450,023

7,332

Chase

Corp.

612,735

17,144

CIRCOR

International,

Inc.

(a) 282,705

19,401

Columbus

McKinnon

Corp.

507,530

90,520

Concrete

Pumping

Holdings,

Inc.

(a) 583,854

24,200

Conduent,

Inc.

(a) 80,828

1,000

CRA

International,

Inc.

88,740

7,600

Cross

Country

Healthcare,

Inc.

(a) 215,612

9,835

Cryoport,

Inc.

(a) 239,581

76,875

DHI

Group,

Inc.

(a) 413,588

1,600

Distribution

Solutions,

Inc.

(a) 45,072

12,259

Ducommun,

Inc.

(a) 486,192

2,660

Energy

Recovery,

Inc.

(a) 57,828

2,500

Franklin

Covey

Co.

(a) 113,475

2,300

Heidrick

&

Struggles

International,

Inc.

59,777

11,581

I3

Verticals,

Inc.,

Class A

(a) 231,967

17,184

IES

Holdings,

Inc.

(a) 474,622

19,700

Information

Services

Group,

Inc.

93,772

3,900

Insteel

Industries,

Inc.

103,467

34,220

Luxfer

Holdings

PLC

496,190

4,600

Napco

Security

Technologies,

Inc.

(a) 133,768

107,415

Orion

Energy

Systems,

Inc.

(a) 167,567

14,110

Primoris

Services

Corp.

229,288

80,870

Radiant

Logistics,

Inc.

(a) 460,150

25,263

Ranpak

Holdings

Corp.

(a) 86,399

13,820

Research

Solutions,

Inc./CA

(a) 28,193

10,746

ShotSpotter,

Inc.

(a) 309,055

21,458

Stagwell,

Inc.

(a) 149,133

5,200

Sterling

Infrastructure,

Inc.

(a) 111,644

6,200

Titan

International,

Inc.

(a) 75,268

5,200

Titan

Machinery,

Inc.

(a) 146,952

5,500

Triumph

Group,

Inc.

(a) 47,245

8,976

UFP

Technologies,

Inc.

(a) 770,500

Shares

Security

Description

Value

Industrials

-

23.0%

(continued)

3,000

V2X,

Inc.

(a) $

106,200

9,025

Vishay

Precision

Group,

Inc.

(a) 267,050

1,800

VSE

Corp.

63,720

33,370

Wabash

National

Corp.

519,237

11,039,777

Real

Estate

-

1.5%

6,700

Alpine

Income

Property

Trust,

Inc.

REIT

108,674

26,800

Braemar

Hotels

&

Resorts,

Inc.

REIT

115,240

5,500

BRT

Apartments

Corp.

REIT

111,705

15,140

Plymouth

Industrial

REIT,

Inc.

254,503

21,400

The

Necessity

Retail

REIT,

Inc.

125,832

715,954

Technology

-

16.7%

8,300

ADTRAN

Holdings,

Inc.

162,514

15,800

Agilysys,

Inc.

(a) 874,530

36,485

American

Well

Corp.,

Class A

(a) 130,981

11,000

Amtech

Systems,

Inc.

(a) 93,500

42,850

AXT,

Inc.

(a) 287,095

4,700

Benchmark

Electronics,

Inc.

116,466

29,478

BM

Technologies,

Inc.

(a) 197,208

13,800

Cantaloupe,

Inc.

(a) 48,024

10,100

Celestica,

Inc.

(a) 84,941

9,651

Cerence,

Inc.

(a) 152,003

11,380

CEVA,

Inc.

(a) 298,497

4,000

CTS

Corp.

166,600

149,590

Edgio,

Inc.

(a) 415,860

36,772

eGain

Corp.

(a) 270,274

12,700

ePlus,

Inc.

(a) 527,558

30,638

EverQuote,

Inc.,

Class A

(a) 208,951

17,450

Grid

Dynamics

Holdings,

Inc.

(a) 326,839

12,921

Hurco

Cos.,

Inc.

290,464

14,106

Ichor

Holdings,

Ltd.

(a) 341,506

6,800

Identiv,

Inc.

(a) 85,272

36,295

Key

Tronic

Corp.

(a) 146,632

39,936

Magnite,

Inc.

(a) 262,380

29,375

MiX

Telematics,

Ltd.,

ADR

223,250

39,196

Outbrain,

Inc.

(a) 143,065

40,353

Photronics,

Inc.

(a) 589,961

36,200

Porch

Group,

Inc.

(a) 81,450

15,063

Radware,

Ltd.

(a) 328,223

10,946

Red

Violet,

Inc.

(a) 189,585

17,300

Tactile

Systems

Technology,

Inc.

(a) 134,767

30,490

The

Hackett

Group,

Inc.

540,283

2,800

Ultra

Clean

Holdings,

Inc.

(a) 72,100

12,895

Veeco

Instruments,

Inc.

(a) 236,236

8,027,015

Telecommunications

-

1.7%

24,814

Airgain,

Inc.

(a) 178,909

1,200

Clearfield,

Inc.

(a) 125,568

2,500

Digi

International,

Inc.

(a) 86,425

10,600

Harmonic,

Inc.

(a) 138,542

3,700

IDT

Corp.,

Class A

(a) 91,871

4,800

NETGEAR,

Inc.

(a) 96,192

25,510

TESSCO

Technologies,

Inc.

(a) 105,611

823,118

Utilities

-

0.3%

4,100

Heritage-Crystal

Clean,

Inc.

(a) 121,237

Total

Common

Stock

(Cost

$49,970,921)

46,147,861

ACUITAS

US

MICROCAP

FUND

SCHEDULE

OF

INVESTMENTS

(Unaudited)

September

30,

2022

At

September

30,

2022

,

the

Fund

held

the

following

exchange

traded

futures

contract:

The

following

is

a

summary

of

the

inputs

used

to

value

the

Fund's investments

as

of

September

30,

2022. The

Fund

has

a

three-tier

fair

value

hierarchy.

The

basis

of

the

tiers

is

dependent

upon

the

various

"inputs"

used

to

determine

the

value

of

the

Fund's

investments.

These

inputs

are

summarized

in

the

three

broad

levels

listed

below:

Level

–

quoted

prices

in

active

markets

for

identical

assets

Level

–

Prices

determined

using

significant

other

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.).

Short-term

securities

with

maturities

of

sixty

days

or

less

are

valued

at

amortized

cost,

which

approximates

market

value,

and

are

categorized

as

Level

in

the

hierarchy.

Municipal

securities,

long-term

U.S.

government

obligations

and

corporate

debt

securities

are

valued

in

accordance

with

the

evaluated

price

supplied

by

the

pricing

service

and

generally

categorized

as

Level

in

the

hierarchy.

Other

securities

that

are

categorized

as

Level

in

the

hierarchy

include,

but

are

not

limited

to,

warrants

that

do

not

trade

on

an

exchange,

securities

valued

at

the

mean

between

the

last

reported

bid

and

ask

quotation

and

international

equity

securities

valued

by

an

independent

third

party

with

adjustments

for

changes

in

value

between

the

time

of

the

securities

respective

local

market

closes

and

the

close

of

the

U.S.

market.

Level

–

significant

unobservable

inputs

(including

the

Fund's

own

assumptions

in

determining

the

fair

value

of

investments)

The

inputs

or

methodology

used

for

valuing

securities

are

not

necessarily

an

indication

of

the

risk

associated

with

investing

in

those

securities.

\* Other

Financial

Instruments

are

derivatives

not

reflected

in

the

Schedule

of

Investments,

such

as

futures,

which

are

valued

at

the

unrealized

appreciation/

(depreciation)

at

period

end.

The

Level

value

displayed

in

this

table

is

Common

Stock.

The

Level

value

displayed

in

this

table

is

a

Money

Market

Fund.

Refer

to

this

Schedule

of

Investments

for

a

further

breakout

of

each

security

by

industry.

THE

PORTFOLIO

OF

INVESTMENTS

SHOULD

BE

READ

IN

CONJUNCTION

WITH

THE

FINANCIAL

STATEMENTS

AND

NOTES

TO

FINANCIAL

STATEMENTS

WHICH

ARE

INCLUDED

IN

THE

FUND'S

AUDITED

ANNUAL

REPORT

OR

SEMI-ANNUAL

REPORT.

THESE

REPORTS

INCLUDE

ADDITIONAL

INFORMATION

ABOUT

THE

FUND'S

SECURITY

VALUATION

POLICIES

AND

ABOUT

CERTAIN

SECURITY

TYPES

INVESTED

BY

THE

FUND.

Shares

Security

Description

Value

Money

Market

Fund

-

4.8%

2,293,539

First

American

Government

Obligations

Fund,

Class X,

2.77%

(b) (Cost

$2,293,539)

$

2,293,539

Investments,

at

value

-

100.8%

(Cost

$52,264,460)

$

48,441,400

Other

Assets

&

Liabilities,

Net

-

(0.8)%

(380,689)

Net

Assets

-

100.0%

$

48,060,711

ADR

American

Depositary

Receipt

PLC

Public

Limited

Company

REIT

Real

Estate

Investment

Trust

(a) Non-income

producing

security.

(b) Dividend

yield

changes

daily

to

reflect

current

market

conditions.

Rate

was

the

quoted

yield

as

of

September

30,

2022. Contracts

Description

Exp.

Date

Notional

Contract

Value

Value

Net

Unrealized

Depreciation

CME

E-mini

Russell

2000

Index

Future

12/21/22

$

1,113,591

$

1,001,880

$

(111,711)

Valuation

Inputs

Investments

in

Securities

Other

Financial

Instruments\*

Level

-

Quoted

Prices

$

46,147,861

$

(111,711)

Level

-

Other

Significant

Observable

Inputs

2,293,539

–

Level

-

Significant

Unobservable

Inputs

–

–

Total

$

48,441,400

$

(111,711)

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** FORUM FUNDS II

- **b. Investment Company Act file number:** 811-22842

- **c. CIK number of Registrant:** 0001576367

- **d. LEI of Registrant:** 254900TLXB82MZSZFI87

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

  - **Street Address 1:** THREE CANAL PLAZA, SUITE 600

  - **City:** PORTLAND

  - **State:** ME

  - **Foreign country:** US

  - **Zip / Postal Code:** 04101

  - **Telephone number:** 207-347-2000

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

- **a. Name of Series:** ACUITAS US MICROCAP FUND

- **b. EDGAR series identifier (if any):** S000045890

- **c. LEI of Series:** 254900JG5HV58OHLQ996

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

- **a. Date of fiscal year-end:** 2023-06-30

- **b. Date as of which information is reported:** 2022-09-30

**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:** $48647457.09

**Total Liabilities:** $587528.11

**Net Assets:** $48059928.98

**Cash Not Reported:** $281196.15

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000142990 | 10.84%               | -0.55%               | -10.31%              |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $337676.17               | $4702115.20                                |
| Month 2  | $731055.27               | $-998953.43                                |
| Month 3  | $76302.93                | $-5341029.34                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Affimed NV                     | Affimed NV                                    | CUSIP: N01045108<br>LEI: 5493004V4FSXT1D04610 | Long             | EC               | CORP              | NL        |     38985 | NS      | $80309.10     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Heska Corp                     | Heska Corp.                                   | CUSIP: 42805E306<br>LEI: 529900O1OR2EB7L0HY27 | Long             | EC               | CORP              | US        |      1991 | NS      | $145183.72    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | CME E-mini Russell 2000 Index Future          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |        12 | NC      | $1001880.00   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Green Brick Partners Inc       | Green Brick Partners, Inc.                    | CUSIP: 392709101<br>LEI: 549300R7SCIV7FQI6T56 | Long             | EC               | CORP              | US        |     11900 | NS      | $254422.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares Inc   | Texas Capital Bancshares, Inc.                | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |      5565 | NS      | $328501.95    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Heidrick & Struggles Internati | Heidrick & Struggles International, Inc.      | CUSIP: 422819102<br>LEI: 5493006284N2J367VB57 | Long             | EC               | CORP              | US        |      2300 | NS      | $59777.00     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| NMI Holdings Inc               | NMI Holdings, Inc.                            | CUSIP: 629209305<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | EC               | CORP              | US        |     13265 | NS      | $270208.05    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid Penn Bancorp Inc           | Mid Penn Bancorp, Inc.                        | CUSIP: 59540G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3700 | NS      | $106301.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Orion Energy Systems, Inc.     | Orion Energy Systems, Inc.                    | CUSIP: 686275108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    107415 | NS      | $167567.40    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Cross Country Healthcare Inc   | Cross Country Healthcare, Inc.                | CUSIP: 227483104<br>LEI: 54930037L0NBIPZ5S663 | Long             | EC               | CORP              | US        |      7600 | NS      | $215612.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluent Inc                     | Fluent, Inc.                                  | CUSIP: 34380C102<br>LEI: 549300P3G8O165ICY429 | Long             | EC               | CORP              | US        |    258675 | NS      | $349211.25    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Lovesac Co/The                 | The Lovesac Co.                               | CUSIP: 54738L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8740 | NS      | $178121.20    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Edgio Inc                      | Edgio, Inc.                                   | CUSIP: 53261M104<br>LEI: 529900BNCMDQGEKW5M59 | Long             | EC               | CORP              | US        |    149590 | NS      | $415860.20    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Information Services Group Inc | Information Services Group, Inc.              | CUSIP: 45675Y104<br>LEI: 549300ZUNI6DQ0G8Q273 | Long             | EC               | CORP              | US        |     19700 | NS      | $93772.00     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| MaxCyte Inc                    | MaxCyte, Inc.                                 | CUSIP: 57777K106<br>LEI: 54930053YHXULRFCU991 | Long             | EC               | CORP              | US        |      7930 | NS      | $51545.00     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Winmark Corp                   | Winmark Corp.                                 | CUSIP: 974250102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2512 | NS      | $543446.08    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| DermTech Inc                   | DermTech, Inc.                                | CUSIP: 24984K105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28878 | NS      | $114356.88    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Guess? Inc                     | Guess?, Inc.                                  | CUSIP: 401617105<br>LEI: 549300QVH3ZK2DW0KP86 | Long             | EC               | CORP              | US        |     14495 | NS      | $212641.65    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| iCAD Inc                       | iCAD, Inc.                                    | CUSIP: 44934S206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33960 | NS      | $71316.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoe Carnival Inc              | Shoe Carnival, Inc.                           | CUSIP: 824889109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4700 | NS      | $100768.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Verastem Inc                   | Verastem, Inc.                                | CUSIP: 92337C104<br>LEI: 549300IY0EFBIU8NQC81 | Long             | EC               | CORP              | US        |     63100 | NS      | $53635.00     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Avanos Medical Inc             | Avanos Medical, Inc.                          | CUSIP: 05350V106<br>LEI: 549300YCXWOM7NEWMQ58 | Long             | EC               | CORP              | US        |      2900 | NS      | $63162.00     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Heritage Commerce Corp         | Heritage Commerce Corp.                       | CUSIP: 426927109<br>LEI: 549300CLIS851ELSR406 | Long             | EC               | CORP              | US        |     10300 | NS      | $116802.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| IES Holdings Inc               | IES Holdings, Inc.                            | CUSIP: 44951W106<br>LEI: 549300687T8E6LN6EN72 | Long             | EC               | CORP              | US        |     17184 | NS      | $474622.08    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Orion Engineered Carbons SA    | Orion Engineered Carbons SA                   | CUSIP: L72967109<br>LEI: N/A                  | Long             | EC               | CORP              | LU        |     16847 | NS      | $224907.45    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| American Well Corp             | American Well Corp.                           | CUSIP: 03044L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36485 | NS      | $130981.15    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Aldeyra Therapeutics Inc       | Aldeyra Therapeutics, Inc.                    | CUSIP: 01438T106<br>LEI: 529900HGKY864E4Y9014 | Long             | EC               | CORP              | US        |     16800 | NS      | $89712.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Tactile Systems Technology Inc | Tactile Systems Technology, Inc.              | CUSIP: 87357P100<br>LEI: 54930069VDTITHOTKJ98 | Long             | EC               | CORP              | US        |     17300 | NS      | $134767.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Chefs' Warehouse Inc/The       | The Chefs' Warehouse, Inc.                    | CUSIP: 163086101<br>LEI: 549300JYEDC8C547E980 | Long             | EC               | CORP              | US        |      2900 | NS      | $84013.00     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Technologies Inc           | UFP Technologies, Inc.                        | CUSIP: 902673102<br>LEI: 549300RJ8LY41HS70C91 | Long             | EC               | CORP              | US        |      8976 | NS      | $770499.84    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Ranpak Holdings Corp           | Ranpak Holdings Corp.                         | CUSIP: 75321W103<br>LEI: 5493000Z9EZR9DCYOO86 | Long             | EC               | CORP              | US        |     25263 | NS      | $86399.46     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| James River Group Holdings Ltd | James River Group Holdings, Ltd.              | CUSIP: G5005R107<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |     14957 | NS      | $341169.17    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Necessity Retail REIT Inc/The  | The Necessity Retail REIT, Inc.               | CUSIP: 02607T109<br>LEI: 549300GN4H0K3IUS8983 | Long             | EC               | CORP              | US        |     21400 | NS      | $125832.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Porch Group Inc                | Porch Group, Inc.                             | CUSIP: 733245104<br>LEI: 549300NXEI7CVW8IXQ90 | Long             | EC               | CORP              | US        |     36200 | NS      | $81450.00     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Napco Security Technologies In | Napco Security Technologies, Inc.             | CUSIP: 630402105<br>LEI: 529900KV21J4YY9YST76 | Long             | EC               | CORP              | US        |      4600 | NS      | $133768.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| First Western Financial Inc    | First Western Financial, Inc.                 | CUSIP: 33751L105<br>LEI: 549300PPOGX4C7S66B47 | Long             | EC               | CORP              | US        |      9185 | NS      | $226410.25    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Akoya Biosciences Inc          | Akoya Biosciences, Inc.                       | CUSIP: 00974H104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10630 | NS      | $124902.50    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Geron Corp                     | Geron Corp.                                   | CUSIP: 374163103<br>LEI: 549300T282D7Z2YESL90 | Long             | EC               | CORP              | US        |     24300 | NS      | $56862.00     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Pharmaceuticals Inc     | Rocket Pharmaceuticals, Inc.                  | CUSIP: 77313F106<br>LEI: 549300R7VV82YUIN4Y93 | Long             | EC               | CORP              | US        |      4200 | NS      | $67032.00     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Valley Community Banco | Central Valley Community Bancorp              | CUSIP: 155685100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6200 | NS      | $109802.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| ADTRAN Holdings Inc            | ADTRAN Holdings, Inc.                         | CUSIP: 00486H105<br>LEI: 549300VV36J86CRRWF77 | Long             | EC               | CORP              | US        |      8300 | NS      | $162514.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Customers Bancorp Inc          | Customers Bancorp, Inc.                       | CUSIP: 23204G100<br>LEI: 549300WLBCHYKZ53FN68 | Long             | EC               | CORP              | US        |     12425 | NS      | $366289.00    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynavax Technologies Corp      | Dynavax Technologies Corp.                    | CUSIP: 268158201<br>LEI: 549300T5URIXWDILX594 | Long             | EC               | CORP              | US        |      9300 | NS      | $97092.00     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Kezar Life Sciences Inc        | Kezar Life Sciences, Inc.                     | CUSIP: 49372L100<br>LEI: 549300EV1V8GXBV18004 | Long             | EC               | CORP              | US        |     17805 | NS      | $153301.05    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Hurco Cos Inc                  | Hurco Cos., Inc.                              | CUSIP: 447324104<br>LEI: XSC5XDOTBYOBQPOG2O82 | Long             | EC               | CORP              | US        |     12921 | NS      | $290464.08    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| I3 Verticals Inc               | I3 Verticals, Inc.                            | CUSIP: 46571Y107<br>LEI: 549300944CYWVP06CJ97 | Long             | EC               | CORP              | US        |     11581 | NS      | $231967.43    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Phibro Animal Health Corp      | Phibro Animal Health Corp.                    | CUSIP: 71742Q106<br>LEI: 549300U24SP4AF2JUX52 | Long             | EC               | CORP              | US        |      4600 | NS      | $61134.00     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Insteel Industries Inc         | Insteel Industries, Inc.                      | CUSIP: 45774W108<br>LEI: 52990026LKY4MOX3L174 | Long             | EC               | CORP              | US        |      3900 | NS      | $103467.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| QCR Holdings Inc               | QCR Holdings, Inc.                            | CUSIP: 74727A104<br>LEI: 549300MWKWM7KWJVQO33 | Long             | EC               | CORP              | US        |      5552 | NS      | $282818.88    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Agenus Inc                     | Agenus, Inc.                                  | CUSIP: 00847G705<br>LEI: 529900NDQQGU5H4UJK81 | Long             | EC               | CORP              | US        |     40000 | NS      | $82000.00     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Nurix Therapeutics Inc         | Nurix Therapeutics, Inc.                      | CUSIP: 67080M103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7800 | NS      | $101634.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Prothena Corp PLC              | Prothena Corp. PLC                            | CUSIP: G72800108<br>LEI: 5299009ZXQ8NIIJ8OL30 | Long             | EC               | CORP              | IE        |      4888 | NS      | $296359.44    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Avid Bioservices Inc           | Avid Bioservices, Inc.                        | CUSIP: 05368M106<br>LEI: 549300GRUS3ZMGP8MX22 | Long             | EC               | CORP              | US        |     36220 | NS      | $692526.40    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ChromaDex Corp                 | ChromaDex Corp.                               | CUSIP: 171077407<br>LEI: 529900OPI7B8JPXCVS70 | Long             | EC               | CORP              | US        |    116975 | NS      | $143879.25    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Cantaloupe Inc                 | Cantaloupe, Inc.                              | CUSIP: 138103106<br>LEI: 529900O54DBQQVWO9Q85 | Long             | EC               | CORP              | US        |     13800 | NS      | $48024.00     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Enova International Inc        | Enova International, Inc.                     | CUSIP: 29357K103<br>LEI: 549300O8XOCQSB49UO63 | Long             | EC               | CORP              | US        |     11530 | NS      | $337483.10    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| NOW Inc                        | NOW, Inc.                                     | CUSIP: 67011P100<br>LEI: 549300AVH5SOCFVVDW91 | Long             | EC               | CORP              | US        |     10800 | NS      | $108540.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Stabilis Solutions Inc         | Stabilis Solutions, Inc.                      | CUSIP: 85236P101<br>LEI: 549300DGSR537OJW7P62 | Long             | EC               | CORP              | US        |     10870 | NS      | $84133.80     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ViewRay Inc                    | ViewRay, Inc.                                 | CUSIP: 92672L107<br>LEI: 5493006XTUBSKFU3W106 | Long             | EC               | CORP              | US        |     24800 | NS      | $90272.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| 908 Devices Inc                | 908 Devices, Inc.                             | CUSIP: 65443P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15691 | NS      | $258116.95    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Benchmark Electronics Inc      | Benchmark Electronics, Inc.                   | CUSIP: 08160H101<br>LEI: 549300W18RHYZOZKOP53 | Long             | EC               | CORP              | US        |      4700 | NS      | $116466.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilysys Inc                   | Agilysys, Inc.                                | CUSIP: 00847J105<br>LEI: 5299001XWB5V3B5IPN93 | Long             | EC               | CORP              | US        |     15800 | NS      | $874530.00    | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Hibbett Inc                    | Hibbett, Inc.                                 | CUSIP: 428567101<br>LEI: 529900RD6P643J1CZM55 | Long             | EC               | CORP              | US        |      1800 | NS      | $89658.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| SIGA Technologies Inc          | SIGA Technologies, Inc.                       | CUSIP: 826917106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42060 | NS      | $433218.00    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Allied Motion Technologies Inc | Allied Motion Technologies, Inc.              | CUSIP: 019330109<br>LEI: 549300I2LHAWYGNBPM97 | Long             | EC               | CORP              | US        |     11191 | NS      | $320286.42    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| DHI Group Inc                  | DHI Group, Inc.                               | CUSIP: 23331S100<br>LEI: 529900489RAC0CU0AO81 | Long             | EC               | CORP              | US        |     76875 | NS      | $413587.50    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Identiv Inc                    | Identiv, Inc.                                 | CUSIP: 45170X205<br>LEI: 5299008KH3C585Z0DS77 | Long             | EC               | CORP              | US        |      6800 | NS      | $85272.00     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Celldex Therapeutics Inc       | Celldex Therapeutics, Inc.                    | CUSIP: 15117B202<br>LEI: 529900F018DMYWH38923 | Long             | EC               | CORP              | US        |      3300 | NS      | $92763.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| AerSale Corp                   | AerSale Corp.                                 | CUSIP: 00810F106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37737 | NS      | $699643.98    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles & Colvard Ltd          | Charles & Colvard, Ltd.                       | CUSIP: 159765106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     67093 | NS      | $64986.28     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Butterfly Network Inc          | Butterfly Network, Inc.                       | CUSIP: 124155102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16300 | NS      | $76610.00     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Caribou Biosciences Inc        | Caribou Biosciences, Inc.                     | CUSIP: 142038108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10265 | NS      | $108295.75    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorcar Parts of America Inc  | Motorcar Parts of America, Inc.               | CUSIP: 620071100<br>LEI: 549300AG4610OSV3H429 | Long             | EC               | CORP              | US        |     26546 | NS      | $404030.12    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Village Super Market Inc       | Village Super Market, Inc.                    | CUSIP: 927107409<br>LEI: 25490069686XCNNEMQ07 | Long             | EC               | CORP              | US        |     22558 | NS      | $436046.14    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| iTeos Therapeutics Inc         | iTeos Therapeutics, Inc.                      | CUSIP: 46565G104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3000 | NS      | $57150.00     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Nature's Sunshine Products Inc | Nature's Sunshine Products, Inc.              | CUSIP: 639027101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5860 | NS      | $48286.40     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| KORU Medical Systems Inc       | KORU Medical Systems, Inc.                    | CUSIP: 759910102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30410 | NS      | $67814.30     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Stoke Therapeutics Inc         | Stoke Therapeutics, Inc.                      | CUSIP: 86150R107<br>LEI: 549300RD25SS2DIJHJ67 | Long             | EC               | CORP              | US        |      7369 | NS      | $94617.96     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryerson Holding Corp           | Ryerson Holding Corp.                         | CUSIP: 783754104<br>LEI: 549300JMA41B3ZHOVE45 | Long             | EC               | CORP              | US        |      2800 | NS      | $72072.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Conduent Inc                   | Conduent, Inc.                                | CUSIP: 206787103<br>LEI: 549300SFJ2D2CYY6CQ11 | Long             | EC               | CORP              | US        |     24200 | NS      | $80828.00     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| CECO Environmental Corp        | CECO Environmental Corp.                      | CUSIP: 125141101<br>LEI: 5493002CZCTL4HGLIY91 | Long             | EC               | CORP              | US        |     50850 | NS      | $450022.50    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| CRA International Inc          | CRA International, Inc.                       | CUSIP: 12618T105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1000 | NS      | $88740.00     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Metropolitan Bank Holding Corp | Metropolitan Bank Holding Corp.               | CUSIP: 591774104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2500 | NS      | $160900.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Ichor Holdings Ltd             | Ichor Holdings, Ltd.                          | CUSIP: G4740B105<br>LEI: 529900PS8R2JVLJ2H892 | Long             | EC               | CORP              | KY        |     14106 | NS      | $341506.26    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Medallion Financial Corp       | Medallion Financial Corp.                     | CUSIP: 583928106<br>LEI: 549300FJ4FMGJ2C34Y48 | Long             | EC               | CORP              | US        |     48365 | NS      | $339522.30    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Alta Equipment Group Inc       | Alta Equipment Group, Inc.                    | CUSIP: 02128L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15400 | NS      | $169554.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| ShotSpotter Inc                | ShotSpotter, Inc.                             | CUSIP: 82536T107<br>LEI: 549300MQV8SOWVNVZ667 | Long             | EC               | CORP              | US        |     10746 | NS      | $309054.96    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Assertio Holdings Inc          | Assertio Holdings, Inc.                       | CUSIP: 04546C205<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41400 | NS      | $93978.00     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BM Technologies Inc            | BM Technologies, Inc.                         | CUSIP: 05591L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29478 | NS      | $197207.82    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Research Solutions Inc/CA      | Research Solutions, Inc./CA                   | CUSIP: 761025105<br>LEI: 549300TYWPCKGK141Q94 | Long             | EC               | CORP              | US        |     13820 | NS      | $28192.80     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Chinook Therapeutics Inc       | Chinook Therapeutics, Inc.                    | CUSIP: 16961L106<br>LEI: 549300X0O3003W5QYQ48 | Long             | EC               | CORP              | US        |      4900 | NS      | $96334.00     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Hackett Group Inc/The          | The Hackett Group, Inc.                       | CUSIP: 404609109<br>LEI: 5K016KLIRB6156644289 | Long             | EC               | CORP              | US        |     30490 | NS      | $540282.80    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Radware Ltd                    | Radware, Ltd.                                 | CUSIP: M81873107<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |     15063 | NS      | $328222.77    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnite Inc                    | Magnite, Inc.                                 | CUSIP: 55955D100<br>LEI: 54930018FR2YX1HHSB02 | Long             | EC               | CORP              | US        |     39936 | NS      | $262379.52    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Ducommun Inc                   | Ducommun, Inc.                                | CUSIP: 264147109<br>LEI: 549300Z71HMWF90S2214 | Long             | EC               | CORP              | US        |     12259 | NS      | $486191.94    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| eGain Corp                     | eGain Corp.                                   | CUSIP: 28225C806<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36772 | NS      | $270274.20    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Regional Management Corp       | Regional Management Corp.                     | CUSIP: 75902K106<br>LEI: 549300S5O87W87JW4146 | Long             | EC               | CORP              | US        |      6235 | NS      | $174829.40    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| InfuSystem Holdings Inc        | InfuSystem Holdings, Inc.                     | CUSIP: 45685K102<br>LEI: 549300F58N8PHJ4QUI59 | Long             | EC               | CORP              | US        |     57704 | NS      | $403350.96    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| iRadimed Corp                  | iRadimed Corp.                                | CUSIP: 46266A109<br>LEI: 549300YVHWP0YJ1YW816 | Long             | EC               | CORP              | US        |      2200 | NS      | $66132.00     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Silk Road Medical Inc          | Silk Road Medical, Inc.                       | CUSIP: 82710M100<br>LEI: 549300VL8KC0ZPDQHE14 | Long             | EC               | CORP              | US        |      5235 | NS      | $235575.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Cerence, Inc.                  | Cerence, Inc.                                 | CUSIP: 156727109<br>LEI: 5493002WL2W5WMS89568 | Long             | EC               | CORP              | US        |      9651 | NS      | $152003.25    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ImmunoGen Inc                  | ImmunoGen, Inc.                               | CUSIP: 45253H101<br>LEI: 54930084U0R1OP766Y02 | Long             | EC               | CORP              | US        |     39610 | NS      | $189335.80    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Health Catalyst Inc            | Health Catalyst, Inc.                         | CUSIP: 42225T107<br>LEI: 549300223PL6GWKVJG92 | Long             | EC               | CORP              | US        |     14154 | NS      | $137293.80    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE Group Hospitality Inc/The  | The ONE Group Hospitality, Inc.               | CUSIP: 88338K103<br>LEI: 549300QFZD4IE5DEBE98 | Long             | EC               | CORP              | US        |     25557 | NS      | $169698.48    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | First American Government Obligations Fund    | CUSIP: 31846V336<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   2293539 | NS      | $2293538.76   | 4.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Argan Inc                      | Argan, Inc.                                   | CUSIP: 04010E109<br>LEI: 529900E4KZWBV9KGBS83 | Long             | EC               | CORP              | US        |      9350 | NS      | $300789.50    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultra Clean Holdings Inc       | Ultra Clean Holdings, Inc.                    | CUSIP: 90385V107<br>LEI: 5493007L6LS7QX18PE75 | Long             | EC               | CORP              | US        |      2800 | NS      | $72100.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Braemar Hotels & Resorts Inc   | Braemar Hotels & Resorts, Inc.                | CUSIP: 10482B101<br>LEI: 549300JDUUEBN868C776 | Long             | EC               | CORP              | US        |     26800 | NS      | $115240.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Inogen Inc                     | Inogen, Inc.                                  | CUSIP: 45780L104<br>LEI: 549300J8WJIVTOJ8IH97 | Long             | EC               | CORP              | US        |     19421 | NS      | $471541.88    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Zumiez Inc                     | Zumiez, Inc.                                  | CUSIP: 989817101<br>LEI: 549300J0PDF58P6HZD25 | Long             | EC               | CORP              | US        |      9360 | NS      | $201520.80    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group Inc          | TransMedics Group, Inc.                       | CUSIP: 89377M109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3000 | NS      | $125220.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Plymouth Industrial REIT Inc   | Plymouth Industrial REIT, Inc.                | CUSIP: 729640102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15140 | NS      | $254503.40    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| AdvanSix Inc                   | AdvanSix, Inc.                                | CUSIP: 00773T101<br>LEI: 5493009TPRODMCAZLF67 | Long             | EC               | CORP              | US        |     18993 | NS      | $609675.30    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| NETGEAR Inc                    | NETGEAR, Inc.                                 | CUSIP: 64111Q104<br>LEI: 54930067KX3UNRHDWA78 | Long             | EC               | CORP              | US        |      4800 | NS      | $96192.00     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| V2X Inc                        | V2X, Inc.                                     | CUSIP: 92242T101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3000 | NS      | $106200.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Chico's FAS Inc                | Chico's FAS, Inc.                             | CUSIP: 168615102<br>LEI: 5299003ESGN5T1MFXY13 | Long             | EC               | CORP              | US        |     18400 | NS      | $89056.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| First of Long Island Corp/The  | The First of Long Island Corp.                | CUSIP: 320734106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5000 | NS      | $86200.00     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpine Income Property Trust I | Alpine Income Property Trust, Inc.            | CUSIP: 02083X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6700 | NS      | $108674.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CEVA Inc                       | CEVA, Inc.                                    | CUSIP: 157210105<br>LEI: 529900G9T7CVU2J2VU73 | Long             | EC               | CORP              | US        |     11380 | NS      | $298497.40    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc                 | Photronics, Inc.                              | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |     40353 | NS      | $589960.86    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Entravision Communications Cor | Entravision Communications Corp.              | CUSIP: 29382R107<br>LEI: 549300SKHY2ALCLKV539 | Long             | EC               | CORP              | US        |     20000 | NS      | $79400.00     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Stoneridge Inc                 | Stoneridge, Inc.                              | CUSIP: 86183P102<br>LEI: PNBCIH9LE7WI83VJIF08 | Long             | EC               | CORP              | US        |     18705 | NS      | $317049.75    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Kiniksa Pharmaceuticals Ltd    | Kiniksa Pharmaceuticals, Ltd.                 | CUSIP: G5269C101<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |      7645 | NS      | $98161.80     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearfield Inc                 | Clearfield, Inc.                              | CUSIP: 18482P103<br>LEI: 529900M4S2OQ1ADPR537 | Long             | EC               | CORP              | US        |      1200 | NS      | $125568.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Children's Place Inc/The       | The Children's Place, Inc.                    | CUSIP: 168905107<br>LEI: 549300BGVK2OO5O7TC19 | Long             | EC               | CORP              | US        |      8983 | NS      | $277484.87    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Outbrain Inc                   | Outbrain, Inc.                                | CUSIP: 69002R103<br>LEI: 549300TNEHRXPVGWVW07 | Long             | EC               | CORP              | US        |     39196 | NS      | $143065.40    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| BioLife Solutions Inc          | BioLife Solutions, Inc.                       | CUSIP: 09062W204<br>LEI: 549300G2IVCMC2TJDW72 | Long             | EC               | CORP              | US        |     35136 | NS      | $799344.00    | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Interface Inc                  | Interface, Inc.                               | CUSIP: 458665304<br>LEI: 549300VXZWQOIDFPU355 | Long             | EC               | CORP              | US        |     54666 | NS      | $491447.34    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Key Tronic Corp                | Key Tronic Corp.                              | CUSIP: 493144109<br>LEI: 40TF3VPKEM3IMMIU0O47 | Long             | EC               | CORP              | US        |     36295 | NS      | $146631.80    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Sterling Infrastructure Inc    | Sterling Infrastructure, Inc.                 | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |      5200 | NS      | $111644.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Harvard Bioscience Inc         | Harvard Bioscience, Inc.                      | CUSIP: 416906105<br>LEI: 549300VLGB1D47GGC642 | Long             | EC               | CORP              | US        |    170050 | NS      | $435328.00    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Pharmaceuticals Inc/DE   | Eagle Pharmaceuticals, Inc.                   | CUSIP: 269796108<br>LEI: 549300TN20OLYTJVP152 | Long             | EC               | CORP              | US        |      2300 | NS      | $60766.00     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Pharmaceuticals Inc   | Catalyst Pharmaceuticals, Inc.                | CUSIP: 14888U101<br>LEI: 5299004O0R5XXLA5H544 | Long             | EC               | CORP              | US        |     11300 | NS      | $144979.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Stagwell Inc                   | Stagwell, Inc.                                | CUSIP: 85256A109<br>LEI: 549300KIYTU6J3NYJ009 | Long             | EC               | CORP              | US        |     21458 | NS      | $149133.10    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Financial Institutions Inc     | Financial Institutions, Inc.                  | CUSIP: 317585404<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3800 | NS      | $91466.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Distribution Solutions Group I | Distribution Solutions, Inc.                  | CUSIP: 520776105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1600 | NS      | $45072.00     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Concert Pharmaceuticals Inc    | Concert Pharmaceuticals, Inc.                 | CUSIP: 206022105<br>LEI: 529900PYI5BSGQNATP82 | Long             | EC               | CORP              | US        |     16400 | NS      | $109880.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Chase Corp                     | Chase Corp.                                   | CUSIP: 16150R104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7332 | NS      | $612735.24    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Pliant Therapeutics Inc        | Pliant Therapeutics, Inc.                     | CUSIP: 729139105<br>LEI: 5493002Q5LITR7VHZH02 | Long             | EC               | CORP              | US        |      6110 | NS      | $127637.90    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Veritex Holdings Inc           | Veritex Holdings, Inc.                        | CUSIP: 923451108<br>LEI: 549300F3SMOML02SC814 | Long             | EC               | CORP              | US        |      4675 | NS      | $124308.25    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrett Business Services Inc  | Barrett Business Services, Inc.               | CUSIP: 068463108<br>LEI: 529900HXB6TMG0SR9Y34 | Long             | EC               | CORP              | US        |      3825 | NS      | $298350.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Technologies Internat | Northern Technologies International Corp.     | CUSIP: 665809109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21509 | NS      | $286284.79    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| SandRidge Energy Inc           | SandRidge Energy, Inc.                        | CUSIP: 80007P869<br>LEI: W1MKPVGS6I5155L7VV67 | Long             | EC               | CORP              | US        |      9600 | NS      | $156576.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Inotiv Inc                     | Inotiv, Inc.                                  | CUSIP: 45783Q100<br>LEI: 549300FH5Z13X0Q5SK81 | Long             | EC               | CORP              | US        |      7556 | NS      | $127318.60    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Semler Scientific Inc          | Semler Scientific, Inc.                       | CUSIP: 81684M104<br>LEI: 549300ZHL16S29QTW485 | Long             | EC               | CORP              | US        |     16860 | NS      | $633093.00    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmonic Inc                   | Harmonic, Inc.                                | CUSIP: 413160102<br>LEI: 549300LRGRD8XC9BTL66 | Long             | EC               | CORP              | US        |     10600 | NS      | $138542.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Celestica Inc                  | Celestica, Inc.                               | CUSIP: 15101Q108<br>LEI: 549300J3CG5T6RZWLN53 | Long             | EC               | CORP              | CA        |     10100 | NS      | $84941.00     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Amtech Systems Inc             | Amtech Systems, Inc.                          | CUSIP: 032332504<br>LEI: 5299008VRUUPETM6HZ85 | Long             | EC               | CORP              | US        |     11000 | NS      | $93500.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CIRCOR International Inc       | CIRCOR International, Inc.                    | CUSIP: 17273K109<br>LEI: 5493007701O01N3FQM69 | Long             | EC               | CORP              | US        |     16101 | NS      | $265505.49    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Concrete Pumping Holdings Inc  | Concrete Pumping Holdings, Inc.               | CUSIP: 206704108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     90520 | NS      | $583854.00    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| AngioDynamics Inc              | AngioDynamics, Inc.                           | CUSIP: 03475V101<br>LEI: 549300W3VKC5ZKMO8C28 | Long             | EC               | CORP              | US        |      4500 | NS      | $92070.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Recovery Inc            | Energy Recovery, Inc.                         | CUSIP: 29270J100<br>LEI: 549300ZEQL52Z525WJ22 | Long             | EC               | CORP              | US        |      2660 | NS      | $57828.40     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Primoris Services Corp         | Primoris Services Corp.                       | CUSIP: 74164F103<br>LEI: 549300UF3OLBJ8D5K349 | Long             | EC               | CORP              | US        |     14110 | NS      | $229287.50    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Peapack-Gladstone Financial Co | Peapack-Gladstone Financial Corp.             | CUSIP: 704699107<br>LEI: 549300G8DN2UK8K0ET30 | Long             | EC               | CORP              | US        |      2900 | NS      | $97585.00     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| LendingTree Inc                | LendingTree, Inc.                             | CUSIP: 52603B107<br>LEI: 549300ISY5YHUJZTON08 | Long             | EC               | CORP              | US        |      3325 | NS      | $79334.50     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| B Riley Financial Inc          | B Riley Financial, Inc.                       | CUSIP: 05580M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9100 | NS      | $405132.00    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| VAALCO Energy Inc              | VAALCO Energy, Inc.                           | CUSIP: 91851C201<br>LEI: 549300CFHFVIWB8M6T24 | Long             | EC               | CORP              | US        |     88940 | NS      | $387778.40    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeco Instruments Inc          | Veeco Instruments, Inc.                       | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |     12895 | NS      | $236236.40    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Wabash National Corp           | Wabash National Corp.                         | CUSIP: 929566107<br>LEI: 5299004ZAWHQZI5XO485 | Long             | EC               | CORP              | US        |     33370 | NS      | $519237.20    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Preferred Bank/Los Angeles CA  | Preferred Bank/Los Angeles CA                 | CUSIP: 740367404<br>LEI: 5493007K6HGI9G0ECX16 | Long             | EC               | CORP              | US        |      1400 | NS      | $91322.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Digi International Inc         | Digi International, Inc.                      | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |      2500 | NS      | $86425.00     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensus Healthcare Inc          | Sensus Healthcare, Inc.                       | CUSIP: 81728J109<br>LEI: 549300F3JF8NCDJJZW04 | Long             | EC               | CORP              | US        |      7200 | NS      | $90216.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Rhythm Pharmaceuticals. Inc.   | Rhythm Pharmaceuticals, Inc.                  | CUSIP: 76243J105<br>LEI: 529900JPNWXQ8DPLA551 | Long             | EC               | CORP              | US        |      2600 | NS      | $63700.00     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| International Money Express In | International Money Express, Inc.             | CUSIP: 46005L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4000 | NS      | $91160.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| OrthoPediatrics Corp           | OrthoPediatrics Corp.                         | CUSIP: 68752L100<br>LEI: 5493000KUTPFGOPAT717 | Long             | EC               | CORP              | US        |      8780 | NS      | $405109.20    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Airgain Inc                    | Airgain, Inc.                                 | CUSIP: 00938A104<br>LEI: 549300LL8ZO53X8A5U98 | Long             | EC               | CORP              | US        |     24814 | NS      | $178908.94    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Civitas Resources Inc          | Civitas Resources, Inc.                       | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |      9650 | NS      | $553813.50    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| LifeMD Inc                     | LifeMD, Inc.                                  | CUSIP: 53216B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     63388 | NS      | $124874.36    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Cryoport, Inc.                 | Cryoport, Inc.                                | CUSIP: 229050307<br>LEI: 9845004D8538BT8JF626 | Long             | EC               | CORP              | US        |      9835 | NS      | $239580.60    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Luxfer Holdings PLC            | Luxfer Holdings PLC                           | CUSIP: G5698W116<br>LEI: 21380045UF5SJYZOXE41 | Long             | EC               | CORP              | GB        |     34220 | NS      | $496190.00    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Heritage-Crystal Clean Inc     | Heritage-Crystal Clean, Inc.                  | CUSIP: 42726M106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4100 | NS      | $121237.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| MiX Telematics Ltd             | MiX Telematics, Ltd.                          | CUSIP: 60688N102<br>LEI: 529900S6HHR7CK7BU646 | Long             | EC               | CORP              | ZA        |     29375 | NS      | $223250.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Triumph Group Inc              | Triumph Group, Inc.                           | CUSIP: 896818101<br>LEI: 5493007L6S47Q14SL582 | Long             | EC               | CORP              | US        |      5500 | NS      | $47245.00     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanda Pharmaceuticals Inc      | Vanda Pharmaceuticals, Inc.                   | CUSIP: 921659108<br>LEI: 529900AY8VOOQBKJ0O70 | Long             | EC               | CORP              | US        |      6800 | NS      | $67184.00     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| First Internet Bancorp         | First Internet Bancorp                        | CUSIP: 320557101<br>LEI: 549300T25MP2M92XU194 | Long             | EC               | CORP              | US        |      4600 | NS      | $155756.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Liquidia Corp                  | Liquidia Corp.                                | CUSIP: 53635D202<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13500 | NS      | $73440.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Vishay Precision Group Inc     | Vishay Precision Group, Inc.                  | CUSIP: 92835K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9025 | NS      | $267049.75    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| BRT Apartments Corp            | BRT Apartments Corp.                          | CUSIP: 055645303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5500 | NS      | $111705.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Snow Lake Resources Ltd        | Snow Lake Resources, Ltd.                     | CUSIP: 83336J208<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      3159 | NS      | $5559.84      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudson Technologies Inc        | Hudson Technologies, Inc.                     | CUSIP: 444144109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12800 | NS      | $94080.00     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Radiant Logistics Inc          | Radiant Logistics, Inc.                       | CUSIP: 75025X100<br>LEI: 549300HWCW2HBOG4GN20 | Long             | EC               | CORP              | US        |     80870 | NS      | $460150.30    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Altimmune Inc                  | Altimmune, Inc.                               | CUSIP: 02155H200<br>LEI: 549300EOYCQ8SW3NVE64 | Long             | EC               | CORP              | US        |      6000 | NS      | $76620.00     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Cymabay Therapeutics Inc       | Cymabay Therapeutics, Inc.                    | CUSIP: 23257D103<br>LEI: 549300YT9GNL852E7F84 | Long             | EC               | CORP              | US        |     20700 | NS      | $72450.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| TESSCO Technologies Inc        | TESSCO Technologies, Inc.                     | CUSIP: 872386107<br>LEI: 254900BNVQFBKCIOE491 | Long             | EC               | CORP              | US        |     25510 | NS      | $105611.40    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Nabors Industries Ltd          | Nabors Industries, Ltd.                       | CUSIP: G6359F137<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |       900 | NS      | $91305.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Newpark Resources Inc          | Newpark Resources, Inc.                       | CUSIP: 651718504<br>LEI: 54930073OHWDQW4DJN26 | Long             | EC               | CORP              | US        |     52805 | NS      | $133068.60    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| AXT Inc                        | AXT, Inc.                                     | CUSIP: 00246W103<br>LEI: 549300M2142IVLVIJN37 | Long             | EC               | CORP              | US        |     42850 | NS      | $287095.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanmi Financial Corp           | Hanmi Financial Corp.                         | CUSIP: 410495204<br>LEI: 549300MSZ7RCG7EA6587 | Long             | EC               | CORP              | US        |      5900 | NS      | $139712.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbus McKinnon Corp/NY      | Columbus McKinnon Corp.                       | CUSIP: 199333105<br>LEI: 549300W3HQB0HO1F3G69 | Long             | EC               | CORP              | US        |     19401 | NS      | $507530.16    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Cronos Group Inc               | Cronos Group, Inc.                            | CUSIP: 22717L101<br>LEI: 549300CWB04E8UOTWX71 | Long             | EC               | CORP              | CA        |     38900 | NS      | $109698.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| OP Bancorp                     | OP Bancorp                                    | CUSIP: 67109R109<br>LEI: 549300LTYZMS0Q13U522 | Long             | EC               | CORP              | US        |     11100 | NS      | $123432.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Selectquote Inc                | Selectquote, Inc.                             | CUSIP: 816307300<br>LEI: 549300BV28BWDIN9SP24 | Long             | EC               | CORP              | US        |     38800 | NS      | $28324.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Covey Co              | Franklin Covey Co.                            | CUSIP: 353469109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2500 | NS      | $113475.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ePlus Inc                      | ePlus, Inc.                                   | CUSIP: 294268107<br>LEI: 529900FFY8AAFJ21NE91 | Long             | EC               | CORP              | US        |     12700 | NS      | $527558.00    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Calavo Growers Inc             | Calavo Growers, Inc.                          | CUSIP: 128246105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7564 | NS      | $240157.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| BlueLinx Holdings Inc          | BlueLinx Holdings, Inc.                       | CUSIP: 09624H208<br>LEI: 549300YSX7GU28F5I540 | Long             | EC               | CORP              | US        |      1800 | NS      | $111780.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Beauty Health Co/The           | The Beauty Health Co.                         | CUSIP: 88331L108<br>LEI: 5493001Z2JZQT4C63C50 | Long             | EC               | CORP              | US        |     19285 | NS      | $227370.15    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrim BanCorp Inc           | Northrim BanCorp, Inc.                        | CUSIP: 666762109<br>LEI: 5493006X7RLLTZ3SG075 | Long             | EC               | CORP              | US        |     12750 | NS      | $529890.00    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Titan International Inc        | Titan International, Inc.                     | CUSIP: 88830M102<br>LEI: 254900CXRGBE7C4B5A06 | Long             | EC               | CORP              | US        |      6200 | NS      | $75268.00     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Titan Machinery Inc            | Titan Machinery, Inc.                         | CUSIP: 88830R101<br>LEI: 549300835ZM8G0BT5C94 | Long             | EC               | CORP              | US        |      5200 | NS      | $146952.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Oil States International Inc   | Oil States International, Inc.                | CUSIP: 678026105<br>LEI: 5493004TF4KQJGMYL777 | Long             | EC               | CORP              | US        |     14200 | NS      | $55238.00     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| EverQuote Inc                  | EverQuote, Inc.                               | CUSIP: 30041R108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30638 | NS      | $208951.16    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Lexicon Pharmaceuticals Inc    | Lexicon Pharmaceuticals, Inc.                 | CUSIP: 528872302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29100 | NS      | $69840.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| MannKind Corp                  | MannKind Corp.                                | CUSIP: 56400P706<br>LEI: 213800GFBCNY1ZFST722 | Long             | EC               | CORP              | US        |     24900 | NS      | $76941.00     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| United Insurance Holdings Corp | United Insurance Holdings Corp.               | CUSIP: 910710102<br>LEI: 5299002P9105LJQA8G51 | Long             | EC               | CORP              | US        |     94825 | NS      | $60735.41     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| IDT Corp                       | IDT Corp.                                     | CUSIP: 448947507<br>LEI: 549300JNTN7ZMJDFCL56 | Long             | EC               | CORP              | US        |      3700 | NS      | $91871.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| VSE Corp                       | VSE Corp.                                     | CUSIP: 918284100<br>LEI: 549300QWJYQDH4U5XI15 | Long             | EC               | CORP              | US        |      1800 | NS      | $63720.00     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Bluebird Bio Inc               | Bluebird Bio, Inc.                            | CUSIP: 09609G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14660 | NS      | $92797.80     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Ranger Oil Corp                | Ranger Oil Corp.                              | CUSIP: 70788V102<br>LEI: 5493003S4AVU6OSXB118 | Long             | EC               | CORP              | US        |      3100 | NS      | $97495.00     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Castle Biosciences Inc         | Castle Biosciences, Inc.                      | CUSIP: 14843C105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10835 | NS      | $282576.80    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenon Pharmaceuticals Inc      | Xenon Pharmaceuticals, Inc.                   | CUSIP: 98420N105<br>LEI: 549300XV44Q9Z1MIPQ03 | Long             | EC               | CORP              | CA        |      9481 | NS      | $342264.10    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Grid Dynamics Holdings Inc     | Grid Dynamics Holdings, Inc.                  | CUSIP: 39813G109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17450 | NS      | $326838.50    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicken Soup For The Soul Ente | Chicken Soup For The Soul Entertainment, Inc. | CUSIP: 16842Q100<br>LEI: 549300THRJ0EJ1DIID72 | Long             | EC               | CORP              | US        |     15420 | NS      | $106089.60    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| CTS Corp                       | CTS Corp.                                     | CUSIP: 126501105<br>LEI: 549300YV1HQLBVHOI649 | Long             | EC               | CORP              | US        |      4000 | NS      | $166600.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| SI-BONE Inc                    | SI-BONE, Inc.                                 | CUSIP: 825704109<br>LEI: 549300J8JGYVJJHV9C31 | Long             | EC               | CORP              | US        |     21471 | NS      | $374883.66    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Geospace Technologies Corp     | Geospace Technologies Corp.                   | CUSIP: 37364X109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43610 | NS      | $192320.10    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| CytoSorbents Corp              | CytoSorbents Corp.                            | CUSIP: 23283X206<br>LEI: 549300VI8WO8GK5QK793 | Long             | EC               | CORP              | US        |     35220 | NS      | $47899.20     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Seres Therapeutics Inc         | Seres Therapeutics, Inc.                      | CUSIP: 81750R102<br>LEI: 549300GMXBE5NUWISF13 | Long             | EC               | CORP              | US        |     18400 | NS      | $118128.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Berry Corp                     | Berry Corp.                                   | CUSIP: 08579X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     60504 | NS      | $453780.00    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Tilly's Inc                    | Tilly's, Inc.                                 | CUSIP: 886885102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50835 | NS      | $351778.20    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Red Violet Inc                 | Red Violet, Inc.                              | CUSIP: 75704L104<br>LEI: 549300T4EGADG881UU63 | Long             | EC               | CORP              | US        |     10946 | NS      | $189584.72    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Horizon Bancorp Inc/IN         | Horizon Bancorp, Inc.                         | CUSIP: 440407104<br>LEI: 549300U2OQ2EIT5MXG39 | Long             | EC               | CORP              | US        |      4950 | NS      | $88902.00     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Vita Coco Co Inc/The           | The Vita Coco Co., Inc.                       | CUSIP: 92846Q107<br>LEI: 54930020WXOAWHR85Y25 | Long             | EC               | CORP              | US        |      6815 | NS      | $77622.85     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Myers Industries Inc           | Myers Industries, Inc.                        | CUSIP: 628464109<br>LEI: 549300I2H9XMVTCW4Q51 | Long             | EC               | CORP              | US        |      6200 | NS      | $102114.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MGP Ingredients Inc            | MGP Ingredients, Inc.                         | CUSIP: 55303J106<br>LEI: 2549006OMHFVZ4MS8538 | Long             | EC               | CORP              | US        |       324 | NS      | $34395.84     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-16

**Name of Applicant:** Forum Funds II

**Signature:** /s/ Karen Shaw

**Name of Signer:** Karen Shaw

**Title:** Treasurer