# EDGAR Filing Document

**Accession Number:** 0000092500
**File Stem:** 0001145549-25-041918
**Filing Date:** 2025-6
**Character Count:** 80031
**Document Hash:** 4a20c47445150a8f3a37e336856b7b81
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-041918.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001145549-25-041918

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**PERIOD START**: 20250430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** STEWARD FUNDS, INC.
- **CENTRAL INDEX KEY:** 0000092500

**ORGANIZATION NAME:**
- **EIN:** 751281784
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-01597
- **FILM NUMBER:** 251075498

**BUSINESS ADDRESS:**
- **STREET 1:** 15375 MEMORIAL DRIVE, SUITE 200
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77079
- **BUSINESS PHONE:** 713-260-9000

**MAIL ADDRESS:**
- **STREET 1:** 15375 MEMORIAL DRIVE, SUITE 200
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77079

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CHRISTIAN STEWARDSHIP FUNDS
- **DATE OF NAME CHANGE:** 20021126

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CAPSTONE CHRISTIAN VALUES FUND INC
- **DATE OF NAME CHANGE:** 20011119

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CAPSTONE FIXED INCOME SERIES INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Steward Equity Market Neutral Fund (Series ID: S000074384)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000232241 | Class C             | SMNCX           |
| C000232242 | Class R6            | SMNRX           |
| C000232243 | Institutional Class | SMNIX           |
| C000232244 | Class A             | SMNAX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Steward Funds Inc

- **b. Investment Company Act file number:** 811-01597

- **c. CIK number of Registrant:** 0000092500

- **d. LEI of Registrant:** 549300RMO0BOXYR4QF39

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

  - **Street Address 1:** 15375 Memorial Drive, Suite 200

  - **City:** Houston

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 77079

  - **Telephone number:** 713-260-9000

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

- **a. Name of Series:** Steward Equity Market Neutral Fund

- **b. EDGAR series identifier (if any):** S000074384

- **c. LEI of Series:** 549300WNB9SEMRQPR744

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

- **a. Date of fiscal year-end:** 2025-04-30

- **b. Date as of which information is reported:** 2025-04-30

**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:** $208356306.82

**Total Liabilities:** $94179901.51

**Net Assets:** $114176405.31

**Cash Not Reported:** $107406123.79

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000232243 | 3.05%                | 1.28%                | -0.74%               |
| Class ID C000232244 | 3.06%                | 1.25%                | -0.74%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1310176.58             | $4419183.90                                |
| Month 2  | $-375849.80              | $1670100.75                                |
| Month 3  | $-131005.58              | $-982787.82                                |

**Designated Index Information**

- **Index Name:** The Funds Designated Reference Portfolio is the Funds Securities Portfolio

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| International Business Machines Corporation | International Business Machines Corporation COM USD0.20       | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      5000 | NS      | $1209100.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products & Chemicals, Inc.              | Air Products & Chemicals, Inc. COM USD1                       | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Short            | EC               | CORP              | US        |     -3000 | NS      | $-813270.00   | -0.71%            |  |  |  | No            |                  1 | On Loan: No      |
| ATI Inc                                     | ATI Inc COM USD0.10                                           | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Short            | EC               | CORP              | US        |    -16000 | NS      | $-870080.00   | -0.76%            |  |  |  | No            |                  1 | On Loan: No      |
| Cirrus Logic, Inc.                          | Cirrus Logic, Inc. COM USD0.001                               | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |     13000 | NS      | $1248520.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                         | Cisco Systems, Inc. COM USD0.001                              | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     19000 | NS      | $1096870.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Sportswear Co.                     | Columbia Sportswear Co. COM NPV                               | CUSIP: 198516106<br>LEI: 549300OTMCIEUXAH5Z60 | Long             | EC               | CORP              | US        |     15000 | NS      | $932550.00    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| The Gap Inc.                                | The Gap Inc. COM USD0.05                                      | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |     41000 | NS      | $897900.00    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Generac Holdings Inc.                       | Generac Holdings Inc. COM USD0.01                             | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |     10000 | NS      | $1143800.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets Inc                     | Cboe Global Markets Inc COM USD0.01                           | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |      1000 | NS      | $221800.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Broadband Corporation               | Liberty Broadband Corporation COM USD0.01 CL 'A'              | CUSIP: 530307107<br>LEI: 549300MIX43II8JLN536 | Short            | EC               | CORP              | US        |    -14000 | NS      | $-1246700.00  | -1.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Flagstar Financial, Inc.                    | Flagstar Financial, Inc. COM NEW                              | CUSIP: 649445400<br>LEI: 529900HVXOTLY61GL030 | Short            | EC               | CORP              | US        |    -70433 | NS      | $-824770.43   | -0.72%            |  |  |  | No            |                  1 | On Loan: No      |
| Tripadvisor Inc                             | Tripadvisor Inc COM USD0.001                                  | CUSIP: 896945201<br>LEI: 549300XVG45PT5BART17 | Short            | EC               | CORP              | US        |    -61000 | NS      | $-759450.00   | -0.67%            |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corporation                  | American Tower Corporation COM USD0.01                        | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |      5000 | NS      | $1127050.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc.                 | LPL Financial Holdings Inc. COM USD0.001                      | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |      4000 | NS      | $1279160.00   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Micro Computer Inc.                   | Super Micro Computer Inc. COM NEW                             | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Short            | EC               | CORP              | US        |    -30000 | NS      | $-955800.00   | -0.84%            |  |  |  | No            |                  1 | On Loan: No      |
| U-Haul Holding Co.                          | U-Haul Holding Co. COM USD0.25                                | CUSIP: 023586100<br>LEI: 5493003WIDMLDHYC6Y24 | Short            | EC               | CORP              | US        |    -17000 | NS      | $-1043630.00  | -0.91%            |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Incorporated             | Jones Lang LaSalle Incorporated COM USD0.01                   | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |      5000 | NS      | $1137050.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Albemarle Corp                              | Albemarle Corp COM USD0.01                                    | CUSIP: 012653101<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Short            | EC               | CORP              | US        |     -3500 | NS      | $-204925.00   | -0.18%            |  |  |  | No            |                  1 | On Loan: No      |
| Avnet, Inc.                                 | Avnet, Inc. COM USD1.00                                       | CUSIP: 053807103<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | EC               | CORP              | US        |     23000 | NS      | $1080770.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International, Inc.                  | Baxter International, Inc. COM USD1.00                        | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Short            | EC               | CORP              | US        |    -10000 | NS      | $-311700.00   | -0.27%            |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc.                 | Verizon Communications Inc. COM USD0.10                       | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     17700 | NS      | $779862.00    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Wesco International, Inc.                   | Wesco International, Inc. COM USD0.01                         | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |      8000 | NS      | $1303680.00   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp.                           | FirstEnergy Corp. COM USD0.10                                 | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Short            | EC               | CORP              | US        |    -22000 | NS      | $-943360.00   | -0.83%            |  |  |  | No            |                  1 | On Loan: No      |
| The Boeing Company                          | The Boeing Company COM USD5.00                                | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Short            | EC               | CORP              | US        |     -6000 | NS      | $-1099440.00  | -0.96%            |  |  |  | No            |                  1 | On Loan: No      |
| Robert Half Inc.                            | Robert Half Inc. COM USD0.001                                 | CUSIP: 770323103<br>LEI: 529900VPCUY9H3HLIC08 | Long             | EC               | CORP              | US        |     27000 | NS      | $1196100.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BorgWarner Inc.                             | BorgWarner Inc. COM USD0.01                                   | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |     39000 | NS      | $1106820.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| American Financial Group, Inc.              | American Financial Group, Inc. COM NPV                        | CUSIP: 025932104<br>LEI: 549300AFOM7IVKIU1G39 | Short            | EC               | CORP              | US        |     -9000 | NS      | $-1139940.00  | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Brown-Forman Corp.                          | Brown-Forman Corp. COM USD0.15 CLASS B                        | CUSIP: 115637209<br>LEI: 549300873K3LXF7ARU34 | Short            | EC               | CORP              | US        |    -33000 | NS      | $-1149720.00  | -1.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Astera Labs Inc                             | Astera Labs Inc COM                                           | CUSIP: 04626A103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -11000 | NS      | $-718410.00   | -0.63%            |  |  |  | No            |                  1 | On Loan: No      |
| Loar Holdings Inc                           | Loar Holdings Inc COM SHS                                     | CUSIP: 53947R105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -10000 | NS      | $-945800.00   | -0.83%            |  |  |  | No            |                  1 | On Loan: No      |
| Aptiv PLC                                   | Aptiv PLC COM SHS                                             | CUSIP: G3265R107<br>LEI: N/A                  | Long             | EC               | CORP              | JE        |     21000 | NS      | $1198260.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Amer Sports Inc.                            | Amer Sports Inc. COM SHS                                      | CUSIP: G0260P102<br>LEI: 391200YCSWTRD1J21867 | Short            | EC               | CORP              | KY        |    -34000 | NS      | $-824500.00   | -0.72%            |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                              | S&P Global Inc COM USD1                                       | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      3000 | NS      | $1500150.00   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamb Weston Holdings Inc                    | Lamb Weston Holdings Inc COM USD1.00                          | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Short            | EC               | CORP              | US        |    -19000 | NS      | $-1003390.00  | -0.88%            |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc                         | Axon Enterprise Inc COM USD0.00001                            | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Short            | EC               | CORP              | US        |     -2000 | NS      | $-1226600.00  | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                             | Bio-Techne Corp COM USD0.01                                   | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Short            | EC               | CORP              | US        |    -16000 | NS      | $-805600.00   | -0.71%            |  |  |  | No            |                  1 | On Loan: No      |
| Equinix, Inc.                               | Equinix, Inc. COM USD0.001                                    | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      1000 | NS      | $860750.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp.                    | SBA Communications Corp. COM USD0.01 CL A                     | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |      4000 | NS      | $973600.00    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus Henderson Group PLC                   | Janus Henderson Group PLC ORD USD1.50                         | CUSIP: G4474Y214<br>LEI: 2138009WPYMWJN3RVF44 | Long             | EC               | CORP              | JE        |     23500 | NS      | $780435.00    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Institutional Funds                | Northern Institutional Funds TREAS PRT PRMR                   | CUSIP: 665279873<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |   1348474 | NS      | $1348474.11   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Company                    | American Express Company COM USD0.20                          | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      3000 | NS      | $799230.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Aflac Incorporated                          | Aflac Incorporated COM USD0.10                                | CUSIP: 001055102<br>LEI: 549300N0B7DOGLXWPP39 | Long             | EC               | CORP              | US        |      9000 | NS      | $978120.00    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing, Inc.             | Automatic Data Processing, Inc. COM USD0.10                   | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      3000 | NS      | $901800.00    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Trex Company, Inc.                          | Trex Company, Inc. COM USD0.01                                | CUSIP: 89531P105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -18000 | NS      | $-1040760.00  | -0.91%            |  |  |  | No            |                  1 | On Loan: No      |
| Block(H&R)Inc                               | Block(H&R)Inc COM NPV                                         | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |     17000 | NS      | $1026290.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                                  | Unum Group COM USD0.10                                        | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |     13300 | NS      | $1032878.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Mettler-Toledo International Inc            | Mettler-Toledo International Inc COM USD0.01                  | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |      1000 | NS      | $1070570.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health, Inc.                       | Cardinal Health, Inc. COM NPV                                 | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |      8000 | NS      | $1130320.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co.                       | Colgate-Palmolive Co. COM USD1.00                             | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     12000 | NS      | $1106280.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Exact Sciences Corporation                  | Exact Sciences Corporation COM USD0.01                        | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Short            | EC               | CORP              | US        |    -20000 | NS      | $-912800.00   | -0.80%            |  |  |  | No            |                  1 | On Loan: No      |
| Light & Wonder Inc                          | Light & Wonder Inc COM USD0.001                               | CUSIP: 80874P109<br>LEI: 529900JXALYBOHXKFM62 | Short            | EC               | CORP              | US        |    -11000 | NS      | $-939180.00   | -0.82%            |  |  |  | No            |                  1 | On Loan: No      |
| Prudential Financial, Inc.                  | Prudential Financial, Inc. COM USD0.01                        | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EC               | CORP              | US        |      1400 | NS      | $143794.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Nike, Inc.                                  | Nike, Inc. CLASS'B'COM NPV                                    | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |     17000 | NS      | $958800.00    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp.                             | Starbucks Corp. COM USD0.001                                  | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Short            | EC               | CORP              | US        |     -3000 | NS      | $-240150.00   | -0.21%            |  |  |  | No            |                  1 | On Loan: No      |
| Davita Inc                                  | Davita Inc COM USD0.001                                       | CUSIP: 23918K108<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | EC               | CORP              | US        |      5700 | NS      | $806835.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp.                     | Webster Financial Corp. COM USD0.01                           | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |     23000 | NS      | $1087900.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Lease Corporation                       | Air Lease Corporation COM USD0.01                             | CUSIP: 00912X302<br>LEI: 5493004NW4M4P8TMMK63 | Short            | EC               | CORP              | US        |    -23000 | NS      | $-1075480.00  | -0.94%            |  |  |  | No            |                  1 | On Loan: No      |
| Paycom Software Inc                         | Paycom Software Inc COM USD0.01                               | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |      1000 | NS      | $226390.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financial                         | Synchrony Financial COM USD0.001                              | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |     17000 | NS      | $883150.00    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc                                | Wingstop Inc COM USD0.01                                      | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Short            | EC               | CORP              | US        |     -1000 | NS      | $-263890.00   | -0.23%            |  |  |  | No            |                  1 | On Loan: No      |
| Okta Inc.                                   | Okta Inc. COM USD0.0001 CL A                                  | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |     10000 | NS      | $1121600.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Bruker Corporation                          | Bruker Corporation COM USD0.01                                | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Short            | EC               | CORP              | US        |    -20000 | NS      | $-801200.00   | -0.70%            |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc.                        | Eagle Materials Inc. COM USD0.01                              | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Short            | EC               | CORP              | US        |     -5000 | NS      | $-1131950.00  | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |
| Deckers Outdoor Corp.                       | Deckers Outdoor Corp. COM USD0.01                             | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |     11000 | NS      | $1219130.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy, Inc.                            | NRG Energy, Inc. COM USD0.01                                  | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |      8000 | NS      | $876640.00    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc.                             | Salesforce Inc. COM USD0.001                                  | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      3000 | NS      | $806130.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Seaboard Corp Del                           | Seaboard Corp Del COM USD1                                    | CUSIP: 811543107<br>LEI: 87Q3KOXT29OW9W9YPT70 | Short            | EC               | CORP              | US        |      -300 | NS      | $-775794.00   | -0.68%            |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc                         | Texas Roadhouse Inc COM USD0.001                              | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Short            | EC               | CORP              | US        |     -6000 | NS      | $-995760.00   | -0.87%            |  |  |  | No            |                  1 | On Loan: No      |
| Westlake Corporation                        | Westlake Corporation COM USD0.01                              | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Short            | EC               | CORP              | US        |    -13000 | NS      | $-1201590.00  | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                                | Fortinet Inc COM USD0.001                                     | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |     12000 | NS      | $1245120.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings Inc                            | RBC Bearings Inc COM STK USD0.01                              | CUSIP: 75524B104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -2200 | NS      | $-722854.00   | -0.63%            |  |  |  | No            |                  1 | On Loan: No      |
| Gamestop Corp                               | Gamestop Corp COM USD0.001 CLASS A                            | CUSIP: 36467W109<br>LEI: 549300505KLOET039L77 | Short            | EC               | CORP              | US        |    -40000 | NS      | $-1114400.00  | -0.98%            |  |  |  | No            |                  1 | On Loan: No      |
| C.H. Robinson Worldwide Inc                 | C.H. Robinson Worldwide Inc COM USD0.10                       | CUSIP: 12541W209<br>LEI: 529900WNWN5L0OVDHA79 | Long             | EC               | CORP              | US        |     10000 | NS      | $892200.00    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Copper Corporation                 | Southern Copper Corporation COM USD0.01                       | CUSIP: 84265V105<br>LEI: 2549007U6NAP46Q9TU15 | Short            | EC               | CORP              | US        |    -12000 | NS      | $-1074240.00  | -0.94%            |  |  |  | No            |                  1 | On Loan: No      |
| Crocs Inc                                   | Crocs Inc COM STK USD0.001                                    | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |     10000 | NS      | $964200.00    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Grand Canyon Education Inc                  | Grand Canyon Education Inc COM USD0.01                        | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |      7000 | NS      | $1248590.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| PVH Corp.                                   | PVH Corp. COM USD1.00                                         | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |      7500 | NS      | $517350.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| XPO Inc                                     | XPO Inc COM USD0.001                                          | CUSIP: 983793100<br>LEI: 54930096DB9LCLPN7H13 | Short            | EC               | CORP              | US        |    -12000 | NS      | $-1273440.00  | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |
| MACOM Technology Solutions Holdings Inc.    | MACOM Technology Solutions Holdings Inc. COM USD0.001         | CUSIP: 55405Y100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -11000 | NS      | $-1141250.00  | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Sarepta Therapeutics Inc                    | Sarepta Therapeutics Inc COM USD0.0001                        | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Short            | EC               | CORP              | US        |     -9000 | NS      | $-561600.00   | -0.49%            |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc.                          | Iron Mountain Inc. COM USD0.01                                | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |     13000 | NS      | $1165710.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Natera Inc.                                 | Natera Inc. COM USD0.0001                                     | CUSIP: 632307104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -7000 | NS      | $-1056510.00  | -0.93%            |  |  |  | No            |                  1 | On Loan: No      |
| Madison Square Garden Sports Corp           | Madison Square Garden Sports Corp COM USD0.01 CLASS A         | CUSIP: 55825T103<br>LEI: 529900BQELIZ5ZQYB788 | Short            | EC               | CORP              | US        |     -5000 | NS      | $-962850.00   | -0.84%            |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Company                        | Baker Hughes Company COM USD0.0001 CL A                       | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21000 | NS      | $743400.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                               | Owens Corning COM USD0.01                                     | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |      4000 | NS      | $581640.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Spirit Aerosystems Holdings Inc             | Spirit Aerosystems Holdings Inc COM STK USD0.01 CLASS 'A'     | CUSIP: 848574109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -34000 | NS      | $-1224000.00  | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                                   | Tesla Inc COM USD0.001                                        | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Short            | EC               | CORP              | US        |     -2000 | NS      | $-564320.00   | -0.49%            |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                              | Citigroup Inc. COM USD0.01                                    | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     15000 | NS      | $1025700.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC                    | Jazz Pharmaceuticals PLC COM USD0.0001                        | CUSIP: G50871105<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | IE        |     10000 | NS      | $1169600.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| American Airlines Group Inc                 | American Airlines Group Inc COM USD0.01                       | CUSIP: 02376R102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -16000 | NS      | $-159200.00   | -0.14%            |  |  |  | No            |                  1 | On Loan: No      |
| Wayfair Inc                                 | Wayfair Inc COM USD0.001 A                                    | CUSIP: 94419L101<br>LEI: 54930027N9ZAVYFDHK53 | Short            | EC               | CORP              | US        |    -17000 | NS      | $-512720.00   | -0.45%            |  |  |  | No            |                  1 | On Loan: No      |
| Paypal Holdings Inc.                        | Paypal Holdings Inc. COM USD0.0001                            | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     17000 | NS      | $1119280.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Novocure Ltd                                | Novocure Ltd COM USD0.00                                      | CUSIP: G6674U108<br>LEI: 213800YPP55UMHWA4826 | Short            | EC               | CORP              | JE        |     -8200 | NS      | $-148748.00   | -0.13%            |  |  |  | No            |                  1 | On Loan: No      |
| Floor And Decor Holding Inc.                | Floor And Decor Holding Inc. COM USD0.001 CL A                | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Short            | EC               | CORP              | US        |     -6500 | NS      | $-464360.00   | -0.41%            |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Holdings Inc.   | Knight-Swift Transportation Holdings Inc. COM USD0.01 CLASS A | CUSIP: 499049104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -16000 | NS      | $-626720.00   | -0.55%            |  |  |  | No            |                  1 | On Loan: No      |
| Macy's, Inc.                                | Macy's, Inc. COM USD0.01                                      | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               | CORP              | US        |     58000 | NS      | $662360.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Discover Financial Services Inc.            | Discover Financial Services Inc. COM STK USD0.01              | CUSIP: 254709108<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | EC               | CORP              | US        |      6000 | NS      | $1096020.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon Corp.           | The Bank of New York Mellon Corp. COM USD0.01                 | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |     13000 | NS      | $1045330.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Genpact Ltd.                                | Genpact Ltd. COM STK USD0.01                                  | CUSIP: G3922B107<br>LEI: 529900OSEC6Q0L4L5B35 | Long             | EC               | CORP              | BM        |     23000 | NS      | $1155980.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Iridium Communications, Inc.                | Iridium Communications, Inc. COM USD0.001                     | CUSIP: 46269C102<br>LEI: 549300U620NVQ4J1CT96 | Long             | EC               | CORP              | US        |     51000 | NS      | $1230630.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Ralph Lauren Corp.                          | Ralph Lauren Corp. COM USD0.01 CLASS 'A'                      | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |      4000 | NS      | $899800.00    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Healthcare Company, Inc.             | Acadia Healthcare Company, Inc. COM USD0.01                   | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Short            | EC               | CORP              | US        |    -51000 | NS      | $-1193400.00  | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| The Chemours Company LLC                    | The Chemours Company LLC COM USD0.01 WI                       | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Short            | EC               | CORP              | US        |    -92000 | NS      | $-1138960.00  | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                    | Visa Inc COM STK USD0.0001                                    | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      4000 | NS      | $1382000.00   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc                      | Diamondback Energy Inc COM USD0.01                            | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Short            | EC               | CORP              | US        |     -9000 | NS      | $-1188090.00  | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Freshpet Inc                                | Freshpet Inc COM USD0.001                                     | CUSIP: 358039105<br>LEI: 549300S4ZK8ZQ6HNPN59 | Short            | EC               | CORP              | US        |     -7000 | NS      | $-514780.00   | -0.45%            |  |  |  | No            |                  1 | On Loan: No      |
| Godaddy Inc                                 | Godaddy Inc COM USD0.001 CLASS A                              | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Long             | EC               | CORP              | US        |      5000 | NS      | $941650.00    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Cleveland-Cliffs Inc                        | Cleveland-Cliffs Inc COM USD0.125                             | CUSIP: 185899101<br>LEI: 549300TM2WLI2BJMDD86 | Short            | EC               | CORP              | US        |   -143000 | NS      | $-1178320.00  | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Hyatt Hotels Corporation                    | Hyatt Hotels Corporation COM USD0.01 CLASS 'A'                | CUSIP: 448579102<br>LEI: T27JQIMTYSH41TCD5186 | Short            | EC               | CORP              | US        |     -7000 | NS      | $-788760.00   | -0.69%            |  |  |  | No            |                  1 | On Loan: No      |
| Primerica, Inc.                             | Primerica, Inc. COM USD0.01                                   | CUSIP: 74164M108<br>LEI: 254900621R686KJR7022 | Long             | EC               | CORP              | US        |      4000 | NS      | $1048280.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc.                             | CBRE Group Inc. COM USD0.01 CLASS A                           | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |     10000 | NS      | $1221800.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| HP Inc                                      | HP Inc COM USD0.01                                            | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |     20000 | NS      | $511400.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Twilio Inc                                  | Twilio Inc COM USD0.001 CL A                                  | CUSIP: 90138F102<br>LEI: 5493004W8TRGD63APX93 | Long             | EC               | CORP              | US        |     12000 | NS      | $1160520.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc                   | Kinsale Capital Group Inc COM USD0.01                         | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Short            | EC               | CORP              | US        |     -2000 | NS      | $-870520.00   | -0.76%            |  |  |  | No            |                  1 | On Loan: No      |
| E L F Beauty Inc                            | E L F Beauty Inc COM USD0.01                                  | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Short            | EC               | CORP              | US        |    -20000 | NS      | $-1237400.00  | -1.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Nutanix Inc                                 | Nutanix Inc COM USD0.000025 CL A                              | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               | CORP              | US        |     17000 | NS      | $1167900.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| F5 Inc                                      | F5 Inc COM STK NPV                                            | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |      4000 | NS      | $1058960.00   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife Inc.                                | MetLife Inc. COM USD0.01                                      | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |     13000 | NS      | $979810.00    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                                | Entegris Inc COM USD0.01                                      | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Short            | EC               | CORP              | US        |     -6600 | NS      | $-522192.00   | -0.46%            |  |  |  | No            |                  1 | On Loan: No      |
| Atmos Energy Corp.                          | Atmos Energy Corp. COM NPV                                    | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Short            | EC               | CORP              | US        |     -8000 | NS      | $-1285040.00  | -1.13%            |  |  |  | No            |                  1 | On Loan: No      |
| SKECHERS USA, Inc.                          | SKECHERS USA, Inc. 'A'COM USD0.001                            | CUSIP: 830566105<br>LEI: 529900D2R54KZPA4XR56 | Short            | EC               | CORP              | US        |    -21000 | NS      | $-1008420.00  | -0.88%            |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc.                       | Freeport-McMoRan Inc. COM USD0.10                             | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Short            | EC               | CORP              | US        |    -28000 | NS      | $-1008840.00  | -0.88%            |  |  |  | No            |                  1 | On Loan: No      |
| General Mills, Inc.                         | General Mills, Inc. COM USD0.10                               | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |     18000 | NS      | $1021320.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc                  | Brixmor Property Group Inc COM USD0.01                        | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |     13000 | NS      | $323830.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc.                     | CACI International Inc. CLASS'A'COM USD0.10                   | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Short            | EC               | CORP              | US        |     -1000 | NS      | $-457870.00   | -0.40%            |  |  |  | No            |                  1 | On Loan: No      |
| Idacorp Inc                                 | Idacorp Inc COM NPV                                           | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Short            | EC               | CORP              | US        |     -8000 | NS      | $-944720.00   | -0.83%            |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Resources Inc.                     | Franklin Resources Inc. COM USD0.10                           | CUSIP: 354613101<br>LEI: RIFQSET379FOGTEFKS80 | Short            | EC               | CORP              | US        |    -62000 | NS      | $-1163120.00  | -1.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands, Inc.                  | Constellation Brands, Inc. COM USD0.01 CLASS A                | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Short            | EC               | CORP              | US        |     -6000 | NS      | $-1125240.00  | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc.                        | Gilead Sciences Inc. COM USD0.001                             | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     11000 | NS      | $1171940.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Harley-Davidson, Inc.                       | Harley-Davidson, Inc. COM USD0.01                             | CUSIP: 412822108<br>LEI: ZDNAWZWXIKMWI51R2A08 | Long             | EC               | CORP              | US        |     38000 | NS      | $851960.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc.                                 | Humana Inc. COM USD0.166                                      | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |      1000 | NS      | $262240.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Heico Corp                                  | Heico Corp COM USD0.01                                        | CUSIP: 422806208<br>LEI: 529900O1DTDLCJ7L0I14 | Short            | EC               | CORP              | US        |     -5000 | NS      | $-1004650.00  | -0.88%            |  |  |  | No            |                  1 | On Loan: No      |
| Emcor Group Inc                             | Emcor Group Inc COM STK USD0.01                               | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      3000 | NS      | $1202100.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| The Hartford Insurance Group Inc.           | The Hartford Insurance Group Inc. COM USD0.01                 | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |     10000 | NS      | $1226700.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Lithia Motors Incorporated                  | Lithia Motors Incorporated COM NPV                            | CUSIP: 536797103<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | EC               | CORP              | US        |      4000 | NS      | $1171040.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowes Companies, Inc.                       | Lowes Companies, Inc. COM USD0.50                             | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      4000 | NS      | $894240.00    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| ManpowerGroup Inc.                          | ManpowerGroup Inc. COM USD0.01                                | CUSIP: 56418H100<br>LEI: ERO1WSFOSR0JJ6CRQ987 | Long             | EC               | CORP              | US        |     15000 | NS      | $646050.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc               | Martin Marietta Materials Inc COM USD0.01                     | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Short            | EC               | CORP              | US        |     -2000 | NS      | $-1047960.00  | -0.92%            |  |  |  | No            |                  1 | On Loan: No      |
| Mattel, Inc.                                | Mattel, Inc. COM USD1.00                                      | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |     52000 | NS      | $826280.00    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Churchill Downs Inc                         | Churchill Downs Inc COM NPV                                   | CUSIP: 171484108<br>LEI: 529900FODTBQC8MIS994 | Short            | EC               | CORP              | US        |    -10000 | NS      | $-904100.00   | -0.79%            |  |  |  | No            |                  1 | On Loan: No      |
| United States Steel Corporation             | United States Steel Corporation COM USD1                      | CUSIP: 912909108<br>LEI: JNLUVFYJT1OZSIQ24U47 | Short            | EC               | CORP              | US        |    -27000 | NS      | $-1180170.00  | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corporation                | Norfolk Southern Corporation COM USD1                         | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Short            | EC               | CORP              | US        |     -1000 | NS      | $-224050.00   | -0.20%            |  |  |  | No            |                  1 | On Loan: No      |
| Nucor Corporation                           | Nucor Corporation COM USD0.40                                 | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Short            | EC               | CORP              | US        |     -2000 | NS      | $-238740.00   | -0.21%            |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp.                 | Capital One Financial Corp. COM USD0.01                       | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |      1000 | NS      | $180260.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| PENN Entertainment Inc                      | PENN Entertainment Inc COM USD0.01                            | CUSIP: 707569109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -50300 | NS      | $-765566.00   | -0.67%            |  |  |  | No            |                  1 | On Loan: No      |
| 3M Company                                  | 3M Company COM USD0.01                                        | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Short            | EC               | CORP              | US        |     -7000 | NS      | $-972370.00   | -0.85%            |  |  |  | No            |                  1 | On Loan: No      |
| The Progressive Corporation                 | The Progressive Corporation COM USD1.00                       | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |      4000 | NS      | $1126960.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| JetBlue Airways Corporation                 | JetBlue Airways Corporation COM USD0.01                       | CUSIP: 477143101<br>LEI: 54930070J9H97ZO93T57 | Short            | EC               | CORP              | US        |    -93500 | NS      | $-407660.00   | -0.36%            |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc.                               | QUALCOMM Inc. COM USD0.0001                                   | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      6000 | NS      | $890760.00    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| MicroStrategy Incorporated                  | MicroStrategy Incorporated COM USD0.001 CLASS A               | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Short            | EC               | CORP              | US        |     -3000 | NS      | $-1140330.00  | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Centerpoint Energy Inc                      | Centerpoint Energy Inc COM STK USD0.01                        | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Short            | EC               | CORP              | US        |    -21000 | NS      | $-814380.00   | -0.71%            |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co.                      | Southwest Airlines Co. COM USD1                               | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Short            | EC               | CORP              | US        |    -32000 | NS      | $-894720.00   | -0.78%            |  |  |  | No            |                  1 | On Loan: No      |
| V.F. Corp                                   | V.F. Corp COM NPV                                             | CUSIP: 918204108<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | EC               | CORP              | US        |     73000 | NS      | $867240.00    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Holdings Inc                          | Crown Holdings Inc COM USD5                                   | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |     12000 | NS      | $1155960.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams-Sonoma Inc.                        | Williams-Sonoma Inc. COM USD0.01                              | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |      7000 | NS      | $1081290.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| MasterCard Incorporated                     | MasterCard Incorporated COM USD0.0001 CLASS A                 | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      2100 | NS      | $1150926.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia Inc                                    | Saia Inc COM USD0.001                                         | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Short            | EC               | CORP              | US        |     -2000 | NS      | $-488000.00   | -0.43%            |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Ingalls Industries, Inc.         | Huntington Ingalls Industries, Inc. COM USD0.01               | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Short            | EC               | CORP              | US        |     -5000 | NS      | $-1151700.00  | -1.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Five Below Inc                              | Five Below Inc COM USD0.01                                    | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Short            | EC               | CORP              | US        |    -15000 | NS      | $-1138350.00  | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Premier Inc                                 | Premier Inc COM USD0.01 CL'A'                                 | CUSIP: 74051N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     62000 | NS      | $1261700.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Resources Corporation                | Antero Resources Corporation USD0.01                          | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Short            | EC               | CORP              | US        |    -27000 | NS      | $-940410.00   | -0.82%            |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc                           | Veeva Systems Inc COM USD0.00001 CL 'A'                       | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |      5000 | NS      | $1168450.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Tapestry Inc                                | Tapestry Inc COM USD0.01                                      | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |     10300 | NS      | $727695.00    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Tandem Diabetes Care Inc                    | Tandem Diabetes Care Inc COM USD0.001(POST REV SPLT)          | CUSIP: 875372203<br>LEI: 549300JEPFOD0K4D3I05 | Short            | EC               | CORP              | US        |     -1900 | NS      | $-32015.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| New Fortress Energy Inc.                    | New Fortress Energy Inc. COM USD0.01                          | CUSIP: 644393100<br>LEI: 254900EICTYTCHA5X705 | Short            | EC               | CORP              | US        |    -47000 | NS      | $-255210.00   | -0.22%            |  |  |  | No            |                  1 | On Loan: No      |
| Dynatrace Inc                               | Dynatrace Inc COM USD0.001                                    | CUSIP: 268150109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19000 | NS      | $892430.00    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Shift4 Payments Inc                         | Shift4 Payments Inc CL A                                      | CUSIP: 82452J109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -11000 | NS      | $-899800.00   | -0.79%            |  |  |  | No            |                  1 | On Loan: No      |
| Certara Inc                                 | Certara Inc COM                                               | CUSIP: 15687V109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -39700 | NS      | $-550242.00   | -0.48%            |  |  |  | No            |                  1 | On Loan: No      |
| TPG Inc                                     | TPG Inc COM CL A                                              | CUSIP: 872657101<br>LEI: 549300NLO4R8MX77XJ02 | Short            | EC               | CORP              | US        |     -7000 | NS      | $-325150.00   | -0.28%            |  |  |  | No            |                  1 | On Loan: No      |
| Crane NXT Co                                | Crane NXT Co COM                                              | CUSIP: 224441105<br>LEI: 549300EXNPSXEWUD3N21 | Short            | EC               | CORP              | US        |    -21000 | NS      | $-985320.00   | -0.86%            |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp Del                      | Liberty Media Corp Del COM LBTY LIV S C                       | CUSIP: 531229722<br>LEI: 549300ZKUTPIBZLWLL89 | Short            | EC               | CORP              | US        |     -3000 | NS      | $-214530.00   | -0.19%            |  |  |  | No            |                  1 | On Loan: No      |
| Apellis Pharmaceuticals Inc                 | Apellis Pharmaceuticals Inc COM USD0.0001                     | CUSIP: 03753U106<br>LEI: 254900HS0ZFRXXSB9D42 | Short            | EC               | CORP              | US        |    -65000 | NS      | $-1248650.00  | -1.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Guardant Health Inc                         | Guardant Health Inc COM USD0.00001                            | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Short            | EC               | CORP              | US        |     -9500 | NS      | $-448685.00   | -0.39%            |  |  |  | No            |                  1 | On Loan: No      |
| Mister Car Wash Inc                         | Mister Car Wash Inc COM                                       | CUSIP: 60646V105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -123600 | NS      | $-847896.00   | -0.74%            |  |  |  | No            |                  1 | On Loan: No      |
| Dutch Bros Inc                              | Dutch Bros Inc CL A                                           | CUSIP: 26701L100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -13000 | NS      | $-776620.00   | -0.68%            |  |  |  | No            |                  1 | On Loan: No      |
| Ncino Inc.                                  | Ncino Inc. COM                                                | CUSIP: 63947X101<br>LEI: 549300WVRR2WR3L6MZ46 | Short            | EC               | CORP              | US        |     -9000 | NS      | $-208800.00   | -0.18%            |  |  |  | No            |                  1 | On Loan: No      |
| Viper Energy Inc.                           | Viper Energy Inc. CL A                                        | CUSIP: 927959106<br>LEI: 5299009LINL232255G03 | Short            | EC               | CORP              | US        |    -27000 | NS      | $-1088910.00  | -0.95%            |  |  |  | No            |                  1 | On Loan: No      |
| Viking Therapeutics Inc.                    | Viking Therapeutics Inc. COM USD0.00001                       | CUSIP: 92686J106<br>LEI: 529900IVC72YPFA25M37 | Short            | EC               | CORP              | US        |    -16000 | NS      | $-461920.00   | -0.40%            |  |  |  | No            |                  1 | On Loan: No      |
| Concentrix Corp.                            | Concentrix Corp. COM                                          | CUSIP: 20602D101<br>LEI: 5493000EAJN1KMPVA737 | Long             | EC               | CORP              | US        |     23000 | NS      | $1174380.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro MicroSystems Inc                    | Allegro MicroSystems Inc COM                                  | CUSIP: 01749D105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -39000 | NS      | $-743730.00   | -0.65%            |  |  |  | No            |                  1 | On Loan: No      |
| MP Materials Corp                           | MP Materials Corp COM CL A                                    | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Short            | EC               | CORP              | US        |    -42000 | NS      | $-1027320.00  | -0.90%            |  |  |  | No            |                  1 | On Loan: No      |
| C3.ai Inc                                   | C3.ai Inc CL A                                                | CUSIP: 12468P104<br>LEI: 549300YDLK0YQO5B1V80 | Short            | EC               | CORP              | US        |    -10700 | NS      | $-235507.00   | -0.21%            |  |  |  | No            |                  1 | On Loan: No      |
| Howard Hughes Holdings Inc.                 | Howard Hughes Holdings Inc. COM                               | CUSIP: 44267T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15000 | NS      | $997950.00    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| ADT Inc                                     | ADT Inc COM USD0.01                                           | CUSIP: 00090Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    139000 | NS      | $1114780.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Dropbox Inc                                 | Dropbox Inc COM USD0.00001 CL A                               | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |     34100 | NS      | $973555.00    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Celsius Holdings Inc.                       | Celsius Holdings Inc. COM USD0.001                            | CUSIP: 15118V207<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -30000 | NS      | $-1048800.00  | -0.92%            |  |  |  | No            |                  1 | On Loan: No      |
| Yeti Holdings Inc                           | Yeti Holdings Inc COM USD0.01                                 | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |     40000 | NS      | $1142000.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| 10X Genomics Inc                            | 10X Genomics Inc COM USD0.00001 CLASS A                       | CUSIP: 88025U109<br>LEI: 5493003Z6741WNLG7H43 | Short            | EC               | CORP              | US        |   -102000 | NS      | $-843540.00   | -0.74%            |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Companies Inc                        | Rocket Companies Inc COM CL A                                 | CUSIP: 77311W101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -74000 | NS      | $-955340.00   | -0.84%            |  |  |  | No            |                  1 | On Loan: No      |
| Sotera Health Company                       | Sotera Health Company COM                                     | CUSIP: 83601L102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -71000 | NS      | $-816500.00   | -0.72%            |  |  |  | No            |                  1 | On Loan: No      |
| UWM Holdings Corp                           | UWM Holdings Corp COM CL A                                    | CUSIP: 91823B109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -259000 | NS      | $-1217300.00  | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Travel Plus Leisure Co                      | Travel Plus Leisure Co COM                                    | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | EC               | CORP              | US        |     17200 | NS      | $755596.00    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Owl Capital Inc                        | Blue Owl Capital Inc COM CL A                                 | CUSIP: 09581B103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -47000 | NS      | $-870910.00   | -0.76%            |  |  |  | No            |                  1 | On Loan: No      |
| SentinelOne Inc                             | SentinelOne Inc CL A                                          | CUSIP: 81730H109<br>LEI: 984500DCD44DBF954221 | Short            | EC               | CORP              | US        |    -51000 | NS      | $-943500.00   | -0.83%            |  |  |  | No            |                  1 | On Loan: No      |
| Enovis Corporation                          | Enovis Corporation COM                                        | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Short            | EC               | CORP              | US        |    -30000 | NS      | $-1037700.00  | -0.91%            |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros. Discovery Inc.                 | Warner Bros. Discovery Inc. COM SER A                         | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |    106000 | NS      | $919020.00    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                        | Booking Holdings Inc COM USD0.008                             | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       300 | NS      | $1529784.00   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Grocery Outlet Holding Corp.                | Grocery Outlet Holding Corp. COM USD0.001                     | CUSIP: 39874R101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -71000 | NS      | $-1192090.00  | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| QuantumScape Corporation                    | QuantumScape Corporation COM CL A                             | CUSIP: 74767V109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -279000 | NS      | $-1090890.00  | -0.96%            |  |  |  | No            |                  1 | On Loan: No      |
| Atlassian Corporation                       | Atlassian Corporation CL A                                    | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | US        |      6000 | NS      | $1369860.00   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Global SA                             | Bunge Global SA COM SHS                                       | CUSIP: H11356104<br>LEI: 254900IVXSV9K0B7PO26 | Long             | EC               | CORP              | CH        |     14000 | NS      | $1102080.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Amcor PLC                                   | Amcor PLC COM USD0.01                                         | CUSIP: G0250X107<br>LEI: 549300GSODGFCDQ3DI89 | Long             | EC               | CORP              | JE        |     81200 | NS      | $747040.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Globalfoundries Inc                         | Globalfoundries Inc ORDINARY SHARES                           | CUSIP: G39387108<br>LEI: 549300BA76VK784VMX48 | Short            | EC               | CORP              | KY        |    -25000 | NS      | $-876750.00   | -0.77%            |  |  |  | No            |                  1 | On Loan: No      |
| Trump Media & Technology Group Corp         | Trump Media & Technology Group Corp COM                       | CUSIP: 25400Q105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -43000 | NS      | $-1055220.00  | -0.92%            |  |  |  | No            |                  1 | On Loan: No      |
| Inspire Medical Systems Inc                 | Inspire Medical Systems Inc COM USD0.001                      | CUSIP: 457730109<br>LEI: 549300XQQCQ7HCJKTW25 | Short            | EC               | CORP              | US        |     -4000 | NS      | $-633520.00   | -0.55%            |  |  |  | No            |                  1 | On Loan: No      |
| Zoom Communications Inc.                    | Zoom Communications Inc. COM USD0.001 CL A                    | CUSIP: 98980L101<br>LEI: 549300T9GCHU0ODOM055 | Long             | EC               | CORP              | US        |     15000 | NS      | $1163100.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Gen Digital Inc                             | Gen Digital Inc COM                                           | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               | CORP              | US        |     49000 | NS      | $1267630.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CAVA Group Inc.                             | CAVA Group Inc. COM                                           | CUSIP: 148929102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -12000 | NS      | $-1109160.00  | -0.97%            |  |  |  | No            |                  1 | On Loan: No      |
| Envista Holdings Corporation                | Envista Holdings Corporation COM USD0.01                      | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |      7000 | NS      | $112560.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Driven Brands Holdings Inc                  | Driven Brands Holdings Inc COM                                | CUSIP: 26210V102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -27200 | NS      | $-449344.00   | -0.39%            |  |  |  | No            |                  1 | On Loan: No      |
| Coinbase Global Inc                         | Coinbase Global Inc COM CL A                                  | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Short            | EC               | CORP              | US        |     -2000 | NS      | $-405780.00   | -0.36%            |  |  |  | No            |                  1 | On Loan: No      |
| Roivant Sciences Ltd                        | Roivant Sciences Ltd SHS                                      | CUSIP: G76279101<br>LEI: 549300DL466NY5J6U724 | Short            | EC               | CORP              | BM        |    -85000 | NS      | $-987700.00   | -0.87%            |  |  |  | No            |                  1 | On Loan: No      |
| DraftKings Inc.                             | DraftKings Inc. COM CL A                                      | CUSIP: 26142V105<br>LEI: 2549006G33IUL6IVOD83 | Short            | EC               | CORP              | US        |    -32000 | NS      | $-1065280.00  | -0.93%            |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Global Ltd.                         | Liberty Global Ltd. COM CL A                                  | CUSIP: G61188101<br>LEI: 213800HRMKKTYH7SKA24 | Long             | EC               | CORP              | BM        |     95000 | NS      | $1040250.00   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-30

**Name of Applicant:** Steward Funds Inc

**Signature:** Jim Coppedge

**Name of Signer:** Jim Coppedge

**Title:** General Counsel & CCO