# EDGAR Filing Document

**Accession Number:** 0001643174
**File Stem:** 0000894189-26-013911
**Filing Date:** 2026-4
**Character Count:** 119678
**Document Hash:** 4419526f6d8376089cc172602bfc7b12
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-013911.hdr.sgml**: 20260429

**ACCESSION NUMBER**: 0000894189-26-013911

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260429

**DATE AS OF CHANGE**: 20260429

**PERIOD START**: 20261130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Horizon Funds
- **CENTRAL INDEX KEY:** 0001643174

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23063
- **FILM NUMBER:** 26915996

**BUSINESS ADDRESS:**
- **STREET 1:** 6210 ARDREY KELL ROAD
- **STREET 2:** SUITE 300
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28277
- **BUSINESS PHONE:** 704-544-2399

**MAIL ADDRESS:**
- **STREET 1:** 6210 ARDREY KELL ROAD
- **STREET 2:** SUITE 300
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28277

## Series and Classes Contracts Data

### HORIZON SMALL/MID CAP CORE EQUITY ETF (Series ID: S000096537)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000265417 | HORIZON SMALL/MID CAP CORE EQUITY ETF |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Horizon Small/Mid Cap Core Equity ETF** | **Horizon Small/Mid Cap Core Equity ETF** | **Horizon Small/Mid Cap Core Equity ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **February 28, 2026 (Unaudited)** | **February 28, 2026 (Unaudited)** | **February 28, 2026 (Unaudited)** |
| **COMMON STOCKS - 93.9%** | **Shares** | **Value**  |
| **Aerospace & Defense - 4.0%** | **Aerospace & Defense - 4.0%** | |
| ATI, Inc. <sup>(a)</sup> | 2996 | $490116 |
| Carpenter Technology Corp. | 624 | 248396 |
| Curtiss-Wright Corp. | 856 | 599482 |
| Moog, Inc. - Class A | 960 | 323933 |
| Woodward, Inc. | 1531 | 592129 |
|  |  | 2254056 |
| **Automobile Components - 1.8%** | **Automobile Components - 1.8%** |  |
| Autoliv, Inc. | 1149 | 136179 |
| BorgWarner, Inc. | 6384 | 367527 |
| Gentex Corp. | 7143 | 167146 |
| LCI Industries | 647 | 86180 |
| Lear Corp. | 986 | 129413 |
| Phinia, Inc. | 1358 | 98632 |
|  |  | 985077 |
| **Banks - 5.3%** | **Banks - 5.3%** |  |
| Ameris Bancorp | 1617 | 125576 |
| Associated Banc-Corp. | 4163 | 109945 |
| Atlantic Union Bankshares Corp. | 2661 | 98617 |
| Axos Financial, Inc. <sup>(a)</sup> | 715 | 62076 |
| BankUnited, Inc. | 1965 | 91765 |
| Cathay General Bancorp | 1541 | 76603 |
| Customers Bancorp, Inc. <sup>(a)</sup> | 802 | 54087 |
| East West Bancorp, Inc. | 2088 | 228532 |
| First BanCorp | 3591 | 75878 |
| First Financial Bancorp | 1979 | 55551 |
| FNB Corp. | 9410 | 159876 |
| Fulton Financial Corp. | 3176 | 64949 |
| Hilltop Holdings, Inc. | 1535 | 57455 |
| International Bancshares Corp. | 1044 | 70063 |
| Pinnacle Financial Partners, Inc. | 3641 | 330457 |
| Provident Financial Services, Inc. | 3505 | 73745 |
| Texas Capital Bancshares, Inc. <sup>(a)</sup> | 1011 | 96348 |
| Trustmark Corp. | 1493 | 63587 |
| UMB Financial Corp. | 1655 | 191781 |
| United Bankshares, Inc. | 3052 | 126048 |
| United Community Banks, Inc. | 2436 | 78366 |
| Valley National Bancorp | 10540 | 132909 |
| Wintrust Financial Corp. | 1826 | 263054 |
| WSFS Financial Corp. | 1259 | 79959 |
| Zions Bancorp NA | 3831 | 219440 |
|  |  | 2986667 |
| **Beverages - 1.0%** | **Beverages - 1.0%** |  |
| Boston Beer Co., Inc. - Class A <sup>(a)</sup> | 315 | 71436 |
| Coca-Cola Consolidated, Inc. | 2361 | 477866 |
|  |  | 549302 |
| **Biotechnology - 4.6%** | **Biotechnology - 4.6%** |  |
| ACADIA Pharmaceuticals, Inc. <sup>(a)</sup> | 3775 | 92714 |
| Alkermes PLC <sup>(a)</sup> | 3503 | 105440 |
| Arrowhead Pharmaceuticals, Inc. <sup>(a)</sup> | 1982 | 125401 |
| BioMarin Pharmaceutical, Inc. <sup>(a)</sup> | 5354 | 330503 |
| Catalyst Pharmaceuticals, Inc. <sup>(a)</sup> | 4094 | 94490 |
| Exelixis, Inc. <sup>(a)</sup> | 7089 | 312341 |
| Halozyme Therapeutics, Inc. <sup>(a)</sup> | 2395 | 166524 |
| Krystal Biotech, Inc. <sup>(a)</sup> | 408 | 112461 |
| Neurocrine Biosciences, Inc. <sup>(a)</sup> | 1850 | 244663 |
| PTC Therapeutics, Inc. <sup>(a)</sup> | 2680 | 182749 |
| Roivant Sciences Ltd. <sup>(a)</sup> | 4950 | 143253 |
| United Therapeutics Corp. <sup>(a)</sup> | 1283 | 646504 |
|  |  | 2557043 |
| **Broadline Retail - 0.3%** | **Broadline Retail - 0.3%** |  |
| Macy's, Inc. | 8080 | 159822 |
| **Building Products - 1.8%** | **Building Products - 1.8%** |  |
| Advanced Drainage Systems, Inc. | 1648 | 282368 |
| Armstrong World Industries, Inc. | 1037 | 179920 |
| AZZ, Inc. | 899 | 122246 |
| Simpson Manufacturing Co., Inc. | 630 | 121949 |
| UFP Industries, Inc. | 1607 | 165376 |
| Zurn Elkay Water Solutions Corp. | 3264 | 166399 |
|  |  | 1038258 |
| **Capital Markets - 3.1%** | **Capital Markets - 3.1%** |  |
| Affiliated Managers Group, Inc. | 819 | 250761 |
| BGC Group, Inc. - Class A | 9924 | 94477 |
| Evercore, Inc. - Class A | 932 | 287839 |
| Federated Hermes, Inc. | 1387 | 77686 |
| Houlihan Lokey, Inc. | 1221 | 199963 |
| MarketAxess Holdings, Inc. | 480 | 92160 |
| SEI Investments Co. | 3028 | 246237 |
| Stifel Financial Corp. | 3447 | 255250 |
| StoneX Group, Inc. <sup>(a)</sup> | 1292 | 164730 |
| Virtu Financial, Inc. - Class A | 1587 | 65718 |
|  |  | 1734821 |
| **Chemicals - 1.2%** | **Chemicals - 1.2%** |  |
| Balchem Corp. | 963 | 174717 |
| Eastman Chemical Co. | 1651 | 124667 |
| NewMarket Corp. | 238 | 148990 |
| RPM International, Inc. | 2139 | 244103 |
|  |  | 692477 |
| **Commercial Services & Supplies - 1.8%** | **Commercial Services & Supplies - 1.8%** |  |
| Brady Corp. - Class A | 1566 | 144605 |
| Brink's Co. | 765 | 89329 |
| Clean Harbors, Inc. <sup>(a)</sup> | 857 | 251272 |
| HNI Corp. | 2222 | 99901 |
| OPENLANE, Inc. <sup>(a)</sup> | 2833 | 80769 |
| Tetra Tech, Inc. | 6462 | 231598 |
| UniFirst Corp. | 470 | 110365 |
|  |  | 1007839 |
| **Communications Equipment - 2.5%** | **Communications Equipment - 2.5%** |  |
| Ciena Corp. <sup>(a)</sup> | 3995 | 1393056 |
| **Construction & Engineering - 1.6%** | **Construction & Engineering - 1.6%** |  |
| AECOM | 1155 | 113167 |
| Arcosa, Inc. | 1293 | 138971 |
| Dycom Industries, Inc. <sup>(a)</sup> | 833 | 349877 |
| Granite Construction, Inc. | 726 | 97618 |
| Valmont Industries, Inc. | 470 | 216167 |
|  |  | 915800 |
| **Consumer Finance - 0.8%** | **Consumer Finance - 0.8%** |  |
| Ally Financial, Inc. | 1708 | 67364 |
| Bread Financial Holdings, Inc. | 1049 | 74332 |
| Enova International, Inc. <sup>(a)</sup> | 691 | 96084 |
| FirstCash Holdings, Inc. | 1222 | 235589 |
|  |  | 473369 |
| **Consumer Staples Distribution & Retail - 2.6%** | **Consumer Staples Distribution & Retail - 2.6%** |  |
| Andersons, Inc. | 1081 | 70579 |
| Casey's General Stores, Inc. | 1052 | 721241 |
| Maplebear, Inc. <sup>(a)</sup> | 3691 | 138449 |
| PriceSmart, Inc. | 674 | 104214 |
| Sprouts Farmers Market, Inc. <sup>(a)</sup> | 2229 | 164656 |
| US Foods Holding Corp. <sup>(a)</sup> | 2892 | 279396 |
|  |  | 1478535 |
| **Containers & Packaging - 1.1%** | **Containers & Packaging - 1.1%** |  |
| AptarGroup, Inc. | 1449 | 208236 |
| Crown Holdings, Inc. | 2807 | 321682 |
| Sonoco Products Co. | 1516 | 85609 |
|  |  | 615527 |
| **Distributors - 0.2%** | **Distributors - 0.2%** |  |
| LKQ Corp. | 3375 | 111746 |
| **Diversified Consumer Services - 1.4%** | **Diversified Consumer Services - 1.4%** |  |
| Covista, Inc. <sup>(a)</sup> | 958 | 93884 |
| Frontdoor, Inc. <sup>(a)</sup> | 1648 | 113003 |
| Graham Holdings Co. - Class B | 149 | 156928 |
| Grand Canyon Education, Inc. <sup>(a)</sup> | 622 | 98942 |
| H&R Block, Inc. | 2535 | 77622 |
| Perdoceo Education Corp. | 2629 | 87677 |
| Service Corp. International | 1894 | 159437 |
|  |  | 787493 |
| **Electric Utilities - 0.5%** | **Electric Utilities - 0.5%** |  |
| OGE Energy Corp. | 2528 | 124226 |
| Portland General Electric Co. | 3073 | 165819 |
|  |  | 290045 |
| **Electrical Equipment - 1.8%** | **Electrical Equipment - 1.8%** |  |
| Acuity, Inc. | 492 | 148382 |
| EnerSys | 1356 | 225300 |
| Nextpower, Inc. - Class A <sup>(a)</sup> | 1649 | 173310 |
| nVent Electric PLC | 2912 | 344664 |
| Vicor Corp. <sup>(a)</sup> | 661 | 133125 |
|  |  | 1024781 |
| **Electronic Equipment, Instruments & Components - 5.1%** | **Electronic Equipment, Instruments & Components - 5.1%** |  |
| Advanced Energy Industries, Inc. | 1241 | 416442 |
| Arrow Electronics, Inc. <sup>(a)</sup> | 1998 | 304016 |
| Coherent Corp. <sup>(a)</sup> | 2490 | 644736 |
| Littelfuse, Inc. | 859 | 302763 |
| Plexus Corp. <sup>(a)</sup> | 1348 | 261687 |
| TD SYNNEX Corp. | 3373 | 528920 |
| TTM Technologies, Inc. <sup>(a)</sup> | 3665 | 382040 |
|  |  | 2840604 |
| **Energy Equipment & Services - 2.0%** | **Energy Equipment & Services - 2.0%** |  |
| Archrock, Inc. | 2428 | 85781 |
| Kodiak Gas Services, Inc. | 1114 | 60791 |
| NOV, Inc. | 4409 | 89326 |
| Oceaneering International, Inc. <sup>(a)</sup> | 1900 | 67450 |
| TechnipFMC PLC | 10915 | 723774 |
| Weatherford International PLC | 1107 | 116744 |
|  |  | 1143866 |
| **Financial Services - 1.3%** | **Financial Services - 1.3%** |  |
| Enact Holdings, Inc. | 3734 | 156231 |
| Essent Group Ltd. | 2725 | 165789 |
| Jackson Financial, Inc. - Class A | 1532 | 167723 |
| MGIC Investment Corp. | 5902 | 156580 |
| NMI Holdings, Inc. <sup>(a)</sup> | 2031 | 79839 |
|  |  | 726162 |
| **Food Products - 1.4%** | **Food Products - 1.4%** |  |
| Cal-Maine Foods, Inc. | 1145 | 99741 |
| Darling Ingredients, Inc. <sup>(a)</sup> | 4151 | 220667 |
| Ingredion, Inc. | 1250 | 146825 |
| Marzetti Co. | 647 | 106328 |
| Pilgrim's Pride Corp. | 5254 | 226763 |
|  |  | 800324 |
| **Gas Utilities - 1.3%** | **Gas Utilities - 1.3%** |  |
| National Fuel Gas Co. | 2722 | 247784 |
| New Jersey Resources Corp. | 2121 | 115043 |
| ONE Gas, Inc. | 1483 | 129673 |
| Southwest Gas Holdings, Inc. | 1403 | 123702 |
| UGI Corp. | 2997 | 112118 |
|  |  | 728320 |
| **Ground Transportation - 0.8%** | **Ground Transportation - 0.8%** |  |
| Knight-Swift Transportation Holdings, Inc. | 2956 | 185992 |
| Landstar System, Inc. | 755 | 123027 |
| Ryder System, Inc. | 716 | 158637 |
|  |  | 467656 |
| **Health Care Equipment & Supplies - 0.8%** | **Health Care Equipment & Supplies - 0.8%** |  |
| Globus Medical, Inc. - Class A <sup>(a)</sup> | 3608 | 344420 |
| Haemonetics Corp. <sup>(a)</sup> | 1874 | 118661 |
|  |  | 463081 |
| **Health Care Providers & Services - 2.2%** | **Health Care Providers & Services - 2.2%** |  |
| Chemed Corp. | 286 | 117263 |
| Concentra Group Holdings Parent, Inc. | 4257 | 101998 |
| Encompass Health Corp. | 2216 | 239062 |
| Ensign Group, Inc. | 675 | 144565 |
| National HealthCare Corp. | 551 | 90088 |
| Option Care Health, Inc. <sup>(a)</sup> | 3597 | 116759 |
| Tenet Healthcare Corp. <sup>(a)</sup> | 1767 | 423002 |
|  |  | 1232737 |
| **Hotels, Restaurants & Leisure - 1.6%** | **Hotels, Restaurants & Leisure - 1.6%** |  |
| Aramark | 3157 | 132121 |
| Boyd Gaming Corp. | 1936 | 161133 |
| Brinker International, Inc. <sup>(a)</sup> | 1119 | 165836 |
| Red Rock Resorts, Inc. - Class A | 1529 | 92581 |
| Texas Roadhouse, Inc. | 1398 | 255652 |
| Travel + Leisure Co. | 1287 | 94852 |
|  |  | 902175 |
| **Household Durables - 3.8%** | **Household Durables - 3.8%** |  |
| Cavco Industries, Inc. <sup>(a)</sup> | 176 | 101598 |
| Champion Homes, Inc. <sup>(a)</sup> | 1729 | 161627 |
| Green Brick Partners, Inc. <sup>(a)</sup> | 1474 | 108575 |
| Installed Building Products, Inc. | 271 | 88823 |
| M/I Homes, Inc. <sup>(a)</sup> | 862 | 122542 |
| Meritage Homes Corp. | 1465 | 110490 |
| Mohawk Industries, Inc. <sup>(a)</sup> | 1349 | 168989 |
| Somnigroup International, Inc. | 3866 | 346046 |
| Taylor Morrison Home Corp. <sup>(a)</sup> | 3240 | 213484 |
| Toll Brothers, Inc. | 2792 | 439014 |
| TopBuild Corp. <sup>(a)</sup> | 302 | 135386 |
| Tri Pointe Homes, Inc. <sup>(a)</sup> | 2978 | 137881 |
|  |  | 2134455 |
| **Household Products - 0.1%** | **Household Products - 0.1%** |  |
| WD-40 Co. | 326 | 77653 |
| **Insurance - 4.2%** | **Insurance - 4.2%** |  |
| Assured Guaranty Ltd. | 698 | 60175 |
| CNO Financial Group, Inc. | 1993 | 83327 |
| Fidelity National Financial, Inc. | 3762 | 198935 |
| First American Financial Corp. | 2228 | 156205 |
| Genworth Financial, Inc. <sup>(a)</sup> | 6770 | 57139 |
| Hanover Insurance Group, Inc. | 980 | 177017 |
| HCI Group, Inc. | 341 | 60159 |
| Mercury General Corp. | 1402 | 126993 |
| Old Republic International Corp. | 5189 | 222453 |
| Palomar Holdings, Inc. <sup>(a)</sup> | 698 | 86350 |
| Reinsurance Group of America, Inc. | 1455 | 313887 |
| RenaissanceRe Holdings Ltd. | 1331 | 402574 |
| Selective Insurance Group, Inc. | 1727 | 145137 |
| Stewart Information Services Corp. | 779 | 55301 |
| Unum Group | 2832 | 203139 |
|  |  | 2348791 |
| **Interactive Media & Services - 0.4%** | **Interactive Media & Services - 0.4%** |  |
| Pinterest, Inc. - Class A <sup>(a)</sup> | 13043 | 223427 |
| **Leisure Products - 0.2%** | **Leisure Products - 0.2%** |  |
| Mattel, Inc. <sup>(a)</sup> | 6724 | 113972 |
| **Life Sciences Tools & Services - 0.4%** | **Life Sciences Tools & Services - 0.4%** |  |
| Medpace Holdings, Inc. <sup>(a)</sup> | 493 | 222718 |
| **Machinery - 7.3%** | **Machinery - 7.3%** |  |
| Crane Co. | 765 | 153405 |
| Donaldson Co., Inc. | 3161 | 293214 |
| ESCO Technologies, Inc. | 704 | 195212 |
| Flowserve Corp. | 3057 | 270606 |
| Franklin Electric Co., Inc. | 1240 | 123529 |
| Gates Industrial Corp. PLC <sup>(a)</sup> | 4146 | 114305 |
| Graco, Inc. | 3954 | 371360 |
| ITT, Inc. | 1531 | 309890 |
| Lincoln Electric Holdings, Inc. | 1377 | 395268 |
| Mueller Industries, Inc. | 3632 | 428431 |
| Mueller Water Products, Inc. - Class A | 4190 | 125407 |
| RBC Bearings, Inc. <sup>(a)</sup> | 696 | 400840 |
| SPX Technologies, Inc. <sup>(a)</sup> | 676 | 153411 |
| Timken Co. | 1783 | 193241 |
| Toro Co. | 2774 | 274238 |
| Watts Water Technologies, Inc. - Class A | 854 | 280744 |
|  |  | 4083101 |
| **Marine Transportation - 0.6%** | **Marine Transportation - 0.6%** |  |
| Kirby Corp. <sup>(a)</sup> | 1499 | 194570 |
| Matson, Inc. | 921 | 153006 |
|  |  | 347576 |
| **Media - 1.2%** | **Media - 1.2%** |  |
| New York Times Co. - Class A | 5794 | 462303 |
| Nexstar Media Group, Inc. | 829 | 208096 |
|  |  | 670399 |
| **Metals & Mining - 3.4%** | **Metals & Mining - 3.4%** |  |
| Alcoa Corp. | 8361 | 519051 |
| Commercial Metals Co. | 1809 | 132600 |
| Hecla Mining Co. | 13913 | 346573 |
| Reliance, Inc. | 1385 | 437161 |
| Royal Gold, Inc. | 1527 | 457779 |
|  |  | 1893164 |
| **Multi-Utilities - 0.4%** | **Multi-Utilities - 0.4%** |  |
| Avista Corp. | 2277 | 92492 |
| Black Hills Corp. | 1692 | 124632 |
|  |  | 217124 |
| **Oil, Gas & Consumable Fuels - 3.5%** | **Oil, Gas & Consumable Fuels - 3.5%** |  |
| Antero Midstream Corp. | 7245 | 162868 |
| Antero Resources Corp. <sup>(a)</sup> | 6791 | 249977 |
| California Resources Corp. | 2006 | 118033 |
| Chord Energy Corp. | 703 | 76184 |
| CNX Resources Corp. <sup>(a)</sup> | 2485 | 103823 |
| DT Midstream, Inc. | 1729 | 240054 |
| HF Sinclair Corp. | 3131 | 156581 |
| Magnolia Oil & Gas Corp. - Class A | 2471 | 68743 |
| Matador Resources Co. | 1643 | 84450 |
| Ovintiv, Inc. | 3584 | 181315 |
| Permian Resources Corp. | 18711 | 342224 |
| Range Resources Corp. | 3343 | 137999 |
| SM Energy Co. | 2636 | 60971 |
|  |  | 1983222 |
| **Passenger Airlines - 0.3%** | **Passenger Airlines - 0.3%** |  |
| American Airlines Group, Inc. <sup>(a)</sup> | 5835 | 76264 |
| SkyWest, Inc. <sup>(a)</sup> | 839 | 87323 |
|  |  | 163587 |
| **Pharmaceuticals - 0.6%** | **Pharmaceuticals - 0.6%** |  |
| Amneal Pharmaceuticals, Inc. <sup>(a)</sup> | 8421 | 116294 |
| Jazz Pharmaceuticals PLC <sup>(a)</sup> | 1075 | 204271 |
|  |  | 320565 |
| **Professional Services - 1.9%** | **Professional Services - 1.9%** |  |
| Amentum Holdings, Inc. <sup>(a)</sup> | 5332 | 159267 |
| CACI International, Inc. - Class A <sup>(a)</sup> | 620 | 378305 |
| Genpact Ltd. | 3028 | 120272 |
| KBR, Inc. | 2173 | 91766 |
| Korn Ferry | 1306 | 81847 |
| Maximus, Inc. | 2147 | 162335 |
| Paylocity Holding Corp. <sup>(a)</sup> | 755 | 80400 |
|  |  | 1074192 |
| **Real Estate Management & Development - 1.0%** | **Real Estate Management & Development - 1.0%** |  |
| Jones Lang LaSalle, Inc. <sup>(a)</sup> | 1346 | 424730 |
| St Joe Co. | 1703 | 122906 |
|  |  | 547636 |
| **Semiconductors & Semiconductor Equipment - 3.9%** | **Semiconductors & Semiconductor Equipment - 3.9%** |  |
| Amkor Technology, Inc. | 6644 | 317716 |
| Cirrus Logic, Inc. <sup>(a)</sup> | 2609 | 368182 |
| MKS, Inc. | 1670 | 408248 |
| Onto Innovation, Inc. <sup>(a)</sup> | 2026 | 437393 |
| Rambus, Inc. <sup>(a)</sup> | 2907 | 289712 |
| Semtech Corp. <sup>(a)</sup> | 3791 | 342024 |
|  |  | 2163275 |
| **Software - 2.2%** | **Software - 2.2%** |  |
| ACI Worldwide, Inc. <sup>(a)</sup> | 6441 | 255579 |
| Docusign, Inc. <sup>(a)</sup> | 6132 | 276369 |
| Dynatrace, Inc. <sup>(a)</sup> | 9727 | 349394 |
| Guidewire Software, Inc. <sup>(a)</sup> | 2428 | 352837 |
|  |  | 1234179 |
| **Specialty Retail - 3.1%** | **Specialty Retail - 3.1%** |  |
| Abercrombie & Fitch Co. - Class A <sup>(a)</sup> | 1480 | 144744 |
| American Eagle Outfitters, Inc. | 3742 | 91941 |
| AutoNation, Inc. <sup>(a)</sup> | 950 | 185402 |
| Bath & Body Works, Inc. | 4099 | 93293 |
| Buckle, Inc. | 1708 | 91463 |
| Burlington Stores, Inc. <sup>(a)</sup> | 482 | 147911 |
| Five Below, Inc. <sup>(a)</sup> | 1235 | 276060 |
| Gap, Inc. | 6868 | 192579 |
| Murphy USA, Inc. | 427 | 166846 |
| Penske Automotive Group, Inc. | 601 | 94670 |
| Urban Outfitters, Inc. <sup>(a)</sup> | 2837 | 187809 |
| Victoria's Secret & Co. <sup>(a)</sup> | 1514 | 94928 |
|  |  | 1767646 |
| **Trading Companies & Distributors - 1.1%** | **Trading Companies & Distributors - 1.1%** |  |
| Applied Industrial Technologies, Inc. | 991 | 280037 |
| Core & Main, Inc. - Class A <sup>(a)</sup> | 2314 | 125326 |
| DNOW, Inc. <sup>(a)</sup> | 5306 | 62505 |
| Rush Enterprises, Inc. - Class A | 2066 | 146624 |
|  |  | 614492 |
| **Wireless Telecommunication Services - 0.4%** | **Wireless Telecommunication Services - 0.4%** |  |
| Telephone and Data Systems, Inc. | 4612 | 206387 |
| **TOTAL COMMON STOCKS** (Cost $48,486,944) | **TOTAL COMMON STOCKS** (Cost $48,486,944) | 52768200 |
| **REAL ESTATE INVESTMENT TRUSTS - 5.9%** | **Shares** | **Value**  |
| **Diversified REITs - 0.4%** | **Diversified REITs - 0.4%** |  |
| Essential Properties Realty Trust, Inc. | 2801 | 95066 |
| WP Carey, Inc. | 1874 | 139894 |
|  |  | 234960 |
| **Health Care REITs - 1.0%** | **Health Care REITs - 1.0%** |  |
| American Healthcare REIT, Inc. | 2394 | 125063 |
| CareTrust REIT, Inc. | 3148 | 127872 |
| Omega Healthcare Investors, Inc. | 6382 | 308059 |
|  |  | 560994 |
| **Industrial REITs - 1.0%** | **Industrial REITs - 1.0%** |  |
| EastGroup Properties, Inc. | 879 | 172557 |
| First Industrial Realty Trust, Inc. | 3346 | 211266 |
| STAG Industrial, Inc. | 3959 | 155272 |
|  |  | 539095 |
| **Mortgage Real Estate Investment Trusts (REITs) - 0.7%** | **Mortgage Real Estate Investment Trusts (REITs) - 0.7%** |  |
| Annaly Capital Management, Inc. | 17755 | 412626 |
| **Office REITs - 0.2%** | **Office REITs - 0.2%** |  |
| Cousins Properties, Inc. | 4119 | 95396 |
| **Residential REITs - 0.4%** | **Residential REITs - 0.4%** |  |
| American Homes 4 Rent - Class A | 6488 | 194640 |
| **Retail REITs - 1.0%** | **Retail REITs - 1.0%** |  |
| Agree Realty Corp. | 1115 | 89735 |
| Brixmor Property Group, Inc. | 7262 | 219821 |
| NNN REIT, Inc. | 3497 | 158484 |
| Phillips Edison & Co., Inc. | 2962 | 116347 |
|  |  | 584387 |
| **Specialized REITs - 1.2%** | **Specialized REITs - 1.2%** |  |
| CubeSmart | 4488 | 184636 |
| EPR Properties | 1581 | 93927 |
| Gaming and Leisure Properties, Inc. | 4170 | 203955 |
| Outfront Media, Inc. | 2894 | 83376 |
| Rayonier, Inc. | 5197 | 111684 |
|  |  | 677578 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $3,042,084) | **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $3,042,084) | 3299676 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 0.2%** | **Shares** | **Value**  |
| First American Government Obligations Fund - Class X, 3.60% <sup>(b)</sup> | 127057 | 127057 |
| **TOTAL MONEY MARKET FUNDS** (Cost $127,057) | **TOTAL MONEY MARKET FUNDS** (Cost $127,057) | 127057 |
| **TOTAL INVESTMENTS - 100.0% (**Cost $51,656,085**)** | **TOTAL INVESTMENTS - 100.0% (**Cost $51,656,085**)** | 56194933 |
| Liabilities in Excess of Other Assets - (0.0)% <sup>(c)</sup> | Liabilities in Excess of Other Assets - (0.0)% <sup>(c)</sup> | (9245) |
| **TOTAL NET ASSETS - 100.0%** |  | $56185688 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

PLC - Public Limited Company <br> REIT - Real Estate Investment Trust

(a) Non-income producing security.

(b) The rate shown represents the 7-day annualized yield as of February 28, 2026.

(c) Represents less than 0.05% of net assets.

------

#### Summary of Fair Value Disclosure as of February 28, 2026 (Unaudited)
Horizon Small/Mid Cap Core Equity ETF (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $52768200 | $– | $– | $52768200 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts | 3299676 | – | – | 3299676 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 127057 | – | – | 127057 |
| Total Investments | $56194933 | $– | $– | $56194933 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Horizon Funds

- **b. Investment Company Act file number:** 811-23063

- **c. CIK number of Registrant:** 0001643174

- **d. LEI of Registrant:** 549300Q2NFSH0QP87Y93

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

  - **Street Address 1:** 6210 Ardrey Kell Road

  - **City:** Charlotte

  - **State:** NC

  - **Foreign country:** US

  - **Zip / Postal Code:** 28277

  - **Telephone number:** 866-371-2399

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

- **a. Name of Series:** Horizon Small/Mid Cap Core Equity ETF

- **b. EDGAR series identifier (if any):** S000096537

- **c. LEI of Series:** 529900DP6VWNIP5J7U38

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

- **a. Date of fiscal year-end:** 2026-11-30

- **b. Date as of which information is reported:** 2026-02-28

**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:** $56219016.52

**Total Liabilities:** $32389.06

**Net Assets:** $56186627.46

**Cash Not Reported:** $455.28

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000265417 | 1.08%                | 5.88%                | 4.42%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $200135.08                                 |
| Month 2  | $24901.93                | $2987606.08                                |
| Month 3  | $1048117.87              | $1351107.07                                |

**Designated Index Information**

- **Index Name:** S&P 1000 Total Return

- **Index Identifier:** SPTR1000

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Abercrombie & Fitch Co         | Abercrombie & Fitch Co                     | CUSIP: 002896207<br>LEI: 5493000J7LL72TOGT983 | Long             | EC               | CORP              | US        |      1480 | NS      | $144744.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ACADIA Pharmaceuticals Inc     | ACADIA Pharmaceuticals Inc                 | CUSIP: 004225108<br>LEI: 529900O3044NO0PEA039 | Long             | EC               | CORP              | US        |      3775 | NS      | $92714.00     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| ACI Worldwide Inc              | ACI Worldwide Inc                          | CUSIP: 004498101<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | EC               | CORP              | US        |      6441 | NS      | $255578.88    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Acuity Inc                     | Acuity Inc                                 | CUSIP: 00508Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       492 | NS      | $148382.28    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| AECOM                          | AECOM                                      | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               | CORP              | US        |      1155 | NS      | $113166.90    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Drainage Systems Inc  | Advanced Drainage Systems Inc              | CUSIP: 00790R104<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | EC               | CORP              | US        |      1648 | NS      | $282368.32    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Energy Industries Inc | Advanced Energy Industries Inc             | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |      1241 | NS      | $416442.37    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Affiliated Managers Group Inc  | Affiliated Managers Group Inc              | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |       819 | NS      | $250761.42    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp              | Agree Realty Corp                          | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1115 | NS      | $89735.20     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcoa Corp                     | Alcoa Corp                                 | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |      8361 | NS      | $519050.88    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Ally Financial Inc             | Ally Financial Inc                         | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |      1708 | NS      | $67363.52     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| American Airlines Group Inc    | American Airlines Group Inc                | CUSIP: 02376R102<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | EC               | CORP              | US        |      5835 | NS      | $76263.45     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Amentum Holdings Inc           | Amentum Holdings Inc                       | CUSIP: 023939101<br>LEI: 2549009FJIBLW40CU216 | Long             | EC               | CORP              | US        |      5332 | NS      | $159266.84    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| American Eagle Outfitters Inc  | American Eagle Outfitters Inc              | CUSIP: 02553E106<br>LEI: 5299001Z9HXK01DHW793 | Long             | EC               | CORP              | US        |      3742 | NS      | $91940.94     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent          | American Homes 4 Rent                      | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |      6488 | NS      | $194640.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameris Bancorp                 | Ameris Bancorp                             | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |      1617 | NS      | $125576.22    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Amkor Technology Inc           | Amkor Technology Inc                       | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |      6644 | NS      | $317716.08    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Amneal Pharmaceuticals Inc     | Amneal Pharmaceuticals Inc                 | CUSIP: 03168L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8421 | NS      | $116294.01    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| American Healthcare REIT Inc   | American Healthcare REIT Inc               | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               | CORP              | US        |      2394 | NS      | $125062.56    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkermes PLC                   | Alkermes PLC                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IE        |      3503 | NS      | $105440.30    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Docusign Inc                   | Docusign Inc                               | CUSIP: 256163106<br>LEI: 549300Q7PVDWRZ39JG09 | Long             | EC               | CORP              | US        |      6132 | NS      | $276369.24    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE Gas Inc                    | ONE Gas Inc                                | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |      1483 | NS      | $129673.52    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation Inc            | Onto Innovation Inc                        | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |      2026 | NS      | $437393.14    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| SM Energy Co                   | SM Energy Co                               | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |      2636 | NS      | $60970.68     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies Inc           | SPX Technologies Inc                       | CUSIP: 78473E103<br>LEI: P761FCI0CPOG24I8JE10 | Long             | EC               | CORP              | US        |       676 | NS      | $153411.44    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| St Joe Co/The                  | St Joe Co/The                              | CUSIP: 790148100<br>LEI: 529900XVHOT3BF8PWG49 | Long             | EC               | CORP              | US        |      1703 | NS      | $122905.51    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Semtech Corp                   | Semtech Corp                               | CUSIP: 816850101<br>LEI: 549300J7WUY317SW6O61 | Long             | EC               | CORP              | US        |      3791 | NS      | $342024.02    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Service Corp International/US  | Service Corp International/US              | CUSIP: 817565104<br>LEI: 549300RKVM2ME20JHZ15 | Long             | EC               | CORP              | US        |      1894 | NS      | $159436.92    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co Inc   | Simpson Manufacturing Co Inc               | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |       630 | NS      | $121949.10    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| SkyWest Inc                    | SkyWest Inc                                | CUSIP: 830879102<br>LEI: 529900UYS2KGS6Z42P09 | Long             | EC               | CORP              | US        |       839 | NS      | $87323.12     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonoco Products Co             | Sonoco Products Co                         | CUSIP: 835495102<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | EC               | CORP              | US        |      1516 | NS      | $85608.52     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Gas Holdings Inc     | Southwest Gas Holdings Inc                 | CUSIP: 844895102<br>LEI: 254900LKF9EV0CUKNE09 | Long             | EC               | CORP              | US        |      1403 | NS      | $123702.51    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprouts Farmers Market Inc     | Sprouts Farmers Market Inc                 | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |      2229 | NS      | $164656.23    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial Inc            | STAG Industrial Inc                        | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |      3959 | NS      | $155271.98    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Stewart Information Services C | Stewart Information Services Corp          | CUSIP: 860372101<br>LEI: 529900TV1XI0PLKENU10 | Long             | EC               | CORP              | US        |       779 | NS      | $55301.21     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corp          | Stifel Financial Corp                      | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |      3447 | NS      | $255250.35    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneX Group Inc               | StoneX Group Inc                           | CUSIP: 861896108<br>LEI: 549300JUF07L8VF02M60 | Long             | EC               | CORP              | US        |      1292 | NS      | $164730.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX Corp                 | TD SYNNEX Corp                             | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |      3373 | NS      | $528920.13    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp      | Taylor Morrison Home Corp                  | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |      3240 | NS      | $213483.60    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Telephone and Data Systems Inc | Telephone and Data Systems Inc             | CUSIP: 879433829<br>LEI: 5299003YZW5BE2NNLO37 | Long             | EC               | CORP              | US        |      4612 | NS      | $206387.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Somnigroup International Inc   | Somnigroup International Inc               | CUSIP: 88023U101<br>LEI: 549300HFEKVR3US71V91 | Long             | EC               | CORP              | US        |      3866 | NS      | $346045.66    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp          | Tenet Healthcare Corp                      | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |      1767 | NS      | $423002.13    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Tetra Tech Inc                 | Tetra Tech Inc                             | CUSIP: 88162G103<br>LEI: 549300UJ1LP7JGJC5P32 | Long             | EC               | CORP              | US        |      6462 | NS      | $231598.08    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                 | TechnipFMC PLC                             | CUSIP: N/A<br>LEI: 549300D5I93QWCJTCK36       | Long             | EC               | CORP              | GB        |     10915 | NS      | $723773.65    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| SEI Investments Co             | SEI Investments Co                         | CUSIP: 784117103<br>LEI: 5LJTIFADGZ6XH1RVOC11 | Long             | EC               | CORP              | US        |      3028 | NS      | $246236.96    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Selective Insurance Group Inc  | Selective Insurance Group Inc              | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |      1727 | NS      | $145137.08    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Andersons Inc/The              | Andersons Inc/The                          | CUSIP: 034164103<br>LEI: L38MWB8MVRFV7HVJPU11 | Long             | EC               | CORP              | US        |      1081 | NS      | $70578.49     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management Inc  | Annaly Capital Management Inc              | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |     17755 | NS      | $412626.20    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Resources Corp          | Antero Resources Corp                      | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |      6791 | NS      | $249976.71    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Midstream Corp          | Antero Midstream Corp                      | CUSIP: 03676B102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7245 | NS      | $162867.60    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologie | Applied Industrial Technologies Inc        | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |       991 | NS      | $280036.78    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Covista Inc                    | Covista Inc                                | CUSIP: 00737L103<br>LEI: 549300Z467EZLMODV621 | Long             | EC               | CORP              | US        |       958 | NS      | $93884.00     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane Co                       | Crane Co                                   | CUSIP: 224408104<br>LEI: 5493000CQRQOTHUODL75 | Long             | EC               | CORP              | US        |       765 | NS      | $153405.45    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| AptarGroup Inc                 | AptarGroup Inc                             | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |      1449 | NS      | $208235.79    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Aramark                        | Aramark                                    | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Long             | EC               | CORP              | US        |      3157 | NS      | $132120.45    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Holdings Inc             | Crown Holdings Inc                         | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |      2807 | NS      | $321682.20    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                      | CubeSmart                                  | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4488 | NS      | $184636.32    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Therapeutics Inc           | PTC Therapeutics Inc                       | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |      2680 | NS      | $182749.20    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Co   | Portland General Electric Co               | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |      3073 | NS      | $165819.08    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| PriceSmart Inc                 | PriceSmart Inc                             | CUSIP: 741511109<br>LEI: 549300JVYOSTGVSDZS46 | Long             | EC               | CORP              | US        |       674 | NS      | $104213.88    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Provident Financial Services I | Provident Financial Services Inc           | CUSIP: 74386T105<br>LEI: 529900JOSO3SXEDVE477 | Long             | EC               | CORP              | US        |      3505 | NS      | $73745.20     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus Inc                     | Rambus Inc                                 | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |      2907 | NS      | $289711.62    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Range Resources Corp           | Range Resources Corp                       | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |      3343 | NS      | $137999.04    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp            | Curtiss-Wright Corp                        | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |       856 | NS      | $599482.48    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Customers Bancorp Inc          | Customers Bancorp Inc                      | CUSIP: 23204G100<br>LEI: 549300WLBCHYKZ53FN68 | Long             | EC               | CORP              | US        |       802 | NS      | $54086.88     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier Inc                   | Rayonier Inc                               | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |      5197 | NS      | $111683.53    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings Inc               | RBC Bearings Inc                           | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       696 | NS      | $400840.32    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Darling Ingredients Inc        | Darling Ingredients Inc                    | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |      4151 | NS      | $220667.16    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Evercore Inc                   | Evercore Inc                               | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |       932 | NS      | $287838.88    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis Inc                   | Exelixis Inc                               | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |      7089 | NS      | $312341.34    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| FNB Corp/PA                    | FNB Corp/PA                                | CUSIP: 302520101<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | EC               | CORP              | US        |      9410 | NS      | $159875.90    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Hermes Inc           | Federated Hermes Inc                       | CUSIP: 314211103<br>LEI: R05X5UQ874RGFF7HHD84 | Long             | EC               | CORP              | US        |      1387 | NS      | $77685.87     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Financial In | Fidelity National Financial Inc            | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |      3762 | NS      | $198934.56    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    127533 | NS      | $127533.31    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Financial Corp  | First American Financial Corp              | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |      2228 | NS      | $156205.08    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| First BanCorp/Puerto Rico      | First BanCorp/Puerto Rico                  | CUSIP: 318672706<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |      3591 | NS      | $75877.83     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bancorp        | First Financial Bancorp                    | CUSIP: 320209109<br>LEI: 549300D3F5B3EZMY7P77 | Long             | EC               | CORP              | US        |      1979 | NS      | $55550.53     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust  | First Industrial Realty Trust Inc          | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3346 | NS      | $211266.44    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstCash Holdings Inc         | FirstCash Holdings Inc                     | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1222 | NS      | $235589.38    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Below Inc                 | Five Below Inc                             | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |      1235 | NS      | $276059.55    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowserve Corp                 | Flowserve Corp                             | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |      3057 | NS      | $270605.64    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Electric Co Inc       | Franklin Electric Co Inc                   | CUSIP: 353514102<br>LEI: RR6AURIKMXUE4Q24G284 | Long             | EC               | CORP              | US        |      1240 | NS      | $123528.80    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontdoor Inc                  | Frontdoor Inc                              | CUSIP: 35905A109<br>LEI: 5493008RB0JZJI3QGZ06 | Long             | EC               | CORP              | US        |      1648 | NS      | $113003.36    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Fulton Financial Corp          | Fulton Financial Corp                      | CUSIP: 360271100<br>LEI: 5493005QLZ6O1BNC0C11 | Long             | EC               | CORP              | US        |      3176 | NS      | $64949.20     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties  | Gaming and Leisure Properties Inc          | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |      4170 | NS      | $203954.70    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Gap Inc/The                    | Gap Inc/The                                | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |      6868 | NS      | $192578.72    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| DNOW Inc                       | DNOW Inc                                   | CUSIP: 67011P100<br>LEI: 549300AVH5SOCFVVDW91 | Long             | EC               | CORP              | US        |      5306 | NS      | $62504.68     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| OGE Energy Corp                | OGE Energy Corp                            | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |      2528 | NS      | $124225.92    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Oceaneering International Inc  | Oceaneering International Inc              | CUSIP: 675232102<br>LEI: 549300L6PH74701W0R30 | Long             | EC               | CORP              | US        |      1900 | NS      | $67450.00     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Republic International Cor | Old Republic International Corp            | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |      5189 | NS      | $222452.43    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc | Omega Healthcare Investors Inc             | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |      6382 | NS      | $308059.14    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Gates Industrial Corp PLC      | Gates Industrial Corp PLC                  | CUSIP: N/A<br>LEI: 549300S6K4FWUSB9KM27       | Long             | EC               | CORP              | US        |      4146 | NS      | $114305.22    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Houlihan Lokey Inc             | Houlihan Lokey Inc                         | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |      1221 | NS      | $199963.17    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT Inc                        | ITT Inc                                    | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |      1531 | NS      | $309889.71    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingredion Inc                  | Ingredion Inc                              | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |      1250 | NS      | $146825.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Installed Building Products In | Installed Building Products Inc            | CUSIP: 45780R101<br>LEI: 549300I95Y9P9YM5FI86 | Long             | EC               | CORP              | US        |       271 | NS      | $88822.96     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| International Bancshares Corp  | International Bancshares Corp              | CUSIP: 459044103<br>LEI: 549300Y16R531AU8TX77 | Long             | EC               | CORP              | US        |      1044 | NS      | $70062.84     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Jackson Financial Inc          | Jackson Financial Inc                      | CUSIP: 46817M107<br>LEI: 213800WXW2KG1N4CO374 | Long             | EC               | CORP              | US        |      1532 | NS      | $167723.36    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Inc         | Jones Lang LaSalle Inc                     | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |      1346 | NS      | $424730.30    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR Inc                        | KBR Inc                                    | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |      2173 | NS      | $91765.79     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirby Corp                     | Kirby Corp                                 | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |      1499 | NS      | $194570.20    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Ho | Knight-Swift Transportation Holdings Inc   | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2956 | NS      | $185991.52    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Kodiak Gas Services Inc        | Kodiak Gas Services Inc                    | CUSIP: 50012A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1114 | NS      | $60790.98     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Korn Ferry                     | Korn Ferry                                 | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |      1306 | NS      | $81847.02     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Krystal Biotech Inc            | Krystal Biotech Inc                        | CUSIP: 501147102<br>LEI: 549300YONUY68210OE41 | Long             | EC               | CORP              | US        |       408 | NS      | $112461.12    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| LCI Industries                 | LCI Industries                             | CUSIP: 50189K103<br>LEI: 549300E1B98YNJ1WIQ04 | Long             | EC               | CORP              | US        |       647 | NS      | $86180.40     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Marzetti Company/The           | Marzetti Company/The                       | CUSIP: 513847103<br>LEI: 529900X4O13HED1ZAS58 | Long             | EC               | CORP              | US        |       647 | NS      | $106327.98    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Landstar System Inc            | Landstar System Inc                        | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |       755 | NS      | $123027.25    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corp                      | Lear Corp                                  | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |       986 | NS      | $129412.50    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln Electric Holdings Inc  | Lincoln Electric Holdings Inc              | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |      1377 | NS      | $395267.85    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse Inc                 | Littelfuse Inc                             | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |       859 | NS      | $302763.14    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Maplebear Inc                  | Maplebear Inc                              | CUSIP: 565394103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3691 | NS      | $138449.41    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| MarketAxess Holdings Inc       | MarketAxess Holdings Inc                   | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Long             | EC               | CORP              | US        |       480 | NS      | $92160.00     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co           | Matador Resources Co                       | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |      1643 | NS      | $84450.20     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Matson Inc                     | Matson Inc                                 | CUSIP: 57686G105<br>LEI: 549300OI5H3Y0I9I4I12 | Long             | EC               | CORP              | US        |       921 | NS      | $153005.73    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Mattel Inc                     | Mattel Inc                                 | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |      6724 | NS      | $113971.80    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Maximus Inc                    | Maximus Inc                                | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |      2147 | NS      | $162334.67    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings Inc           | Medpace Holdings Inc                       | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |       493 | NS      | $222717.68    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury General Corp           | Mercury General Corp                       | CUSIP: 589400100<br>LEI: 5493001Q9EXPCEL4W527 | Long             | EC               | CORP              | US        |      1402 | NS      | $126993.16    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Meritage Homes Corp            | Meritage Homes Corp                        | CUSIP: 59001A102<br>LEI: 52990044W9UMFJO2FB97 | Long             | EC               | CORP              | US        |      1465 | NS      | $110490.30    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| RPM International Inc          | RPM International Inc                      | CUSIP: 749685103<br>LEI: 549300TJCKW4BRXPJ474 | Long             | EC               | CORP              | US        |      2139 | NS      | $244102.68    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Red Rock Resorts Inc           | Red Rock Resorts Inc                       | CUSIP: 75700L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1529 | NS      | $92580.95     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Reinsurance Group of America I | Reinsurance Group of America Inc           | CUSIP: 759351604<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EC               | CORP              | US        |      1455 | NS      | $313887.15    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Inc                   | Reliance Inc                               | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |      1385 | NS      | $437161.40    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Gold Inc                 | Royal Gold Inc                             | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |      1527 | NS      | $457779.33    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Rush Enterprises Inc           | Rush Enterprises Inc                       | CUSIP: 781846209<br>LEI: 529900V3XHTN7A6DFT17 | Long             | EC               | CORP              | US        |      2066 | NS      | $146624.02    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryder System Inc               | Ryder System Inc                           | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | EC               | CORP              | US        |       716 | NS      | $158636.96    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC       | Jazz Pharmaceuticals PLC                   | CUSIP: N/A<br>LEI: 635400GAUMJCLEZRRV50       | Long             | EC               | CORP              | IE        |      1075 | NS      | $204271.50    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| RenaissanceRe Holdings Ltd     | RenaissanceRe Holdings Ltd                 | CUSIP: N/A<br>LEI: EK6GB9U3U58PDI411C94       | Long             | EC               | CORP              | BM        |      1331 | NS      | $402574.26    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Roivant Sciences Ltd           | Roivant Sciences Ltd                       | CUSIP: N/A<br>LEI: 549300DL466NY5J6U724       | Long             | EC               | CORP              | US        |      4950 | NS      | $143253.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| US Foods Holding Corp          | US Foods Holding Corp                      | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |      2892 | NS      | $279396.12    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp       | United Therapeutics Corp                   | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      1283 | NS      | $646503.70    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                     | Unum Group                                 | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |      2832 | NS      | $203139.36    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Outfitters Inc           | Urban Outfitters Inc                       | CUSIP: 917047102<br>LEI: 549300N3DUFR5U6NRN38 | Long             | EC               | CORP              | US        |      2837 | NS      | $187809.40    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Valley National Bancorp        | Valley National Bancorp                    | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |     10540 | NS      | $132909.40    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries Inc         | Valmont Industries Inc                     | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |       470 | NS      | $216167.10    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Vicor Corp                     | Vicor Corp                                 | CUSIP: 925815102<br>LEI: 5299005KMQOTR6B51F09 | Long             | EC               | CORP              | US        |       661 | NS      | $133125.40    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Victoria's Secret & Co         | Victoria's Secret & Co                     | CUSIP: 926400102<br>LEI: 5493006T3O70U3UWVF17 | Long             | EC               | CORP              | US        |      1514 | NS      | $94927.80     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtu Financial Inc            | Virtu Financial Inc                        | CUSIP: 928254101<br>LEI: 5493001OPW2K42CH3884 | Long             | EC               | CORP              | US        |      1587 | NS      | $65717.67     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| WD-40 Co                       | WD-40 Co                                   | CUSIP: 929236107<br>LEI: 549300UZHTN0CNKBOB19 | Long             | EC               | CORP              | US        |       326 | NS      | $77653.20     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| WSFS Financial Corp            | WSFS Financial Corp                        | CUSIP: 929328102<br>LEI: 549300SU7VQHD6QRG886 | Long             | EC               | CORP              | US        |      1259 | NS      | $79959.09     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| WP Carey Inc                   | WP Carey Inc                               | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |      1874 | NS      | $139894.10    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Watts Water Technologies Inc   | Watts Water Technologies Inc               | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |       854 | NS      | $280743.96    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp        | Wintrust Financial Corp                    | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |      1826 | NS      | $263053.56    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodward Inc                   | Woodward Inc                               | CUSIP: 980745103<br>LEI: YPYKXXTR8TFDH54ZMB45 | Long             | EC               | CORP              | US        |      1531 | NS      | $592129.56    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Zions Bancorp NA               | Zions Bancorp NA                           | CUSIP: 989701107<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | EC               | CORP              | US        |      3831 | NS      | $219439.68    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurn Elkay Water Solutions Cor | Zurn Elkay Water Solutions Corp            | CUSIP: 98983L108<br>LEI: 549300AM3633XDFU1Q85 | Long             | EC               | CORP              | US        |      3264 | NS      | $166398.72    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International PLC  | Weatherford International PLC              | CUSIP: N/A<br>LEI: 529900LPBDSCQDJKHQ39       | Long             | EC               | CORP              | US        |      1107 | NS      | $116744.22    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream Inc               | DT Midstream Inc                           | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1729 | NS      | $240054.36    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Donaldson Co Inc               | Donaldson Co Inc                           | CUSIP: 257651109<br>LEI: OZE6KXY9QQPR8EJ8WL20 | Long             | EC               | CORP              | US        |      3161 | NS      | $293214.36    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries Inc           | Dycom Industries Inc                       | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |       833 | NS      | $349876.66    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynatrace Inc                  | Dynatrace Inc                              | CUSIP: 268150109<br>LEI: 6488T0Z33CE9L61EX904 | Long             | EC               | CORP              | US        |      9727 | NS      | $349393.84    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| East West Bancorp Inc          | East West Bancorp Inc                      | CUSIP: 27579R104<br>LEI: 254900O4X656YXFOYB11 | Long             | EC               | CORP              | US        |      2088 | NS      | $228531.60    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc       | EastGroup Properties Inc                   | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |       879 | NS      | $172556.49    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastman Chemical Co            | Eastman Chemical Co                        | CUSIP: 277432100<br>LEI: FDPVHDGJ1IQZFK9KH630 | Long             | EC               | CORP              | US        |      1651 | NS      | $124667.01    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Enact Holdings Inc             | Enact Holdings Inc                         | CUSIP: 29249E109<br>LEI: 9845003CA5664B741N19 | Long             | EC               | CORP              | US        |      3734 | NS      | $156230.56    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp          | Encompass Health Corp                      | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |      2216 | NS      | $239062.08    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| EnerSys                        | EnerSys                                    | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |      1356 | NS      | $225299.40    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemed Corp                    | Chemed Corp                                | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |       286 | NS      | $117262.86    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Ciena Corp                     | Ciena Corp                                 | CUSIP: 171779309<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | EC               | CORP              | US        |      3995 | NS      | $1393056.50   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Enova International Inc        | Enova International Inc                    | CUSIP: 29357K103<br>LEI: 549300O8XOCQSB49UO63 | Long             | EC               | CORP              | US        |       691 | NS      | $96083.55     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Ensign Group Inc/The           | Ensign Group Inc/The                       | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |       675 | NS      | $144564.75    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp               | HF Sinclair Corp                           | CUSIP: 403949100<br>LEI: 2549009G116AM01XHN24 | Long             | EC               | CORP              | US        |      3131 | NS      | $156581.31    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| HNI Corp                       | HNI Corp                                   | CUSIP: 404251100<br>LEI: 549300SKRADLC4O5HV93 | Long             | EC               | CORP              | US        |      2222 | NS      | $99901.12     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Hecla Mining Co                | Hecla Mining Co                            | CUSIP: 422704106<br>LEI: 5493009Y6HOBZD1QD537 | Long             | EC               | CORP              | US        |     13913 | NS      | $346572.83    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilltop Holdings Inc           | Hilltop Holdings Inc                       | CUSIP: 432748101<br>LEI: 54930010TA543US0PM65 | Long             | EC               | CORP              | US        |      1535 | NS      | $57455.05     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Chord Energy Corp              | Chord Energy Corp                          | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |       703 | NS      | $76184.11     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Champion Homes Inc             | Champion Homes Inc                         | CUSIP: 830830105<br>LEI: 2549008RYT2Y0VBZTC29 | Long             | EC               | CORP              | US        |      1729 | NS      | $161626.92    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| LKQ Corp                       | LKQ Corp                                   | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |      3375 | NS      | $111746.25    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| M/I Homes Inc                  | M/I Homes Inc                              | CUSIP: 55305B101<br>LEI: 5299005M71FH9CCSFB69 | Long             | EC               | CORP              | US        |       862 | NS      | $122541.92    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Macy's Inc                     | Macy's Inc                                 | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               | CORP              | US        |      8080 | NS      | $159822.40    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnolia Oil & Gas Corp        | Magnolia Oil & Gas Corp                    | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2471 | NS      | $68743.22     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Tri Pointe Homes Inc           | Tri Pointe Homes Inc                       | CUSIP: 87265H109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2978 | NS      | $137881.40    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| TTM Technologies Inc           | TTM Technologies Inc                       | CUSIP: 87305R109<br>LEI: 549300SC4BDOIS008048 | Long             | EC               | CORP              | US        |      3665 | NS      | $382039.60    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares Inc   | Texas Capital Bancshares Inc               | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |      1011 | NS      | $96348.30     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc            | Texas Roadhouse Inc                        | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |      1398 | NS      | $255652.26    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Timken Co/The                  | Timken Co/The                              | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |      1783 | NS      | $193241.54    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers Inc              | Toll Brothers Inc                          | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |      2792 | NS      | $439014.08    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| TopBuild Corp                  | TopBuild Corp                              | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |       302 | NS      | $135386.60    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Toro Co/The                    | Toro Co/The                                | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | EC               | CORP              | US        |      2774 | NS      | $274237.64    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Travel + Leisure Co            | Travel + Leisure Co                        | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | EC               | CORP              | US        |      1287 | NS      | $94851.90     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Trustmark Corp                 | Trustmark Corp                             | CUSIP: 898402102<br>LEI: 5493000HPQ4D2RZ79739 | Long             | EC               | CORP              | US        |      1493 | NS      | $63586.87     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI Corp                       | UGI Corp                                   | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |      2997 | NS      | $112117.77    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB Financial Corp             | UMB Financial Corp                         | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |      1655 | NS      | $191781.40    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries Inc             | UFP Industries Inc                         | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |      1607 | NS      | $165376.37    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| UniFirst Corp/MA               | UniFirst Corp/MA                           | CUSIP: 904708104<br>LEI: 5493003XBTNWBC8UK019 | Long             | EC               | CORP              | US        |       470 | NS      | $110365.40    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| United Community Banks Inc/GA  | United Community Banks Inc/GA              | CUSIP: 90984P303<br>LEI: 549300GVW0FV66X3U703 | Long             | EC               | CORP              | US        |      2436 | NS      | $78366.12     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| United Bankshares Inc/WV       | United Bankshares Inc/WV                   | CUSIP: 909907107<br>LEI: 5299005O3BAMJ9Z92V62 | Long             | EC               | CORP              | US        |      3052 | NS      | $126047.60    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Bread Financial Holdings Inc   | Bread Financial Holdings Inc               | CUSIP: 018581108<br>LEI: 549300G8S4PO686J7H97 | Long             | EC               | CORP              | US        |      1049 | NS      | $74332.14     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| BorgWarner Inc                 | BorgWarner Inc                             | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |      6384 | NS      | $367526.88    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| OPENLANE Inc                   | OPENLANE Inc                               | CUSIP: 48238T109<br>LEI: 5493004HKD20LBSG7D03 | Long             | EC               | CORP              | US        |      2833 | NS      | $80768.83     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Option Care Health Inc         | Option Care Health Inc                     | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |      3597 | NS      | $116758.62    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Beer Co Inc/The         | Boston Beer Co Inc/The                     | CUSIP: 100557107<br>LEI: 529900Q02MQ0DCQNRM58 | Long             | EC               | CORP              | US        |       315 | NS      | $71435.70     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Boyd Gaming Corp               | Boyd Gaming Corp                           | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |      1936 | NS      | $161133.28    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Outfront Media Inc             | Outfront Media Inc                         | CUSIP: 69007J304<br>LEI: 549300RZWDYU5722I639 | Long             | EC               | CORP              | US        |      2894 | NS      | $83376.14     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv Inc                    | Ovintiv Inc                                | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |      3584 | NS      | $181314.56    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Brady Corp                     | Brady Corp                                 | CUSIP: 104674106<br>LEI: 549300G2LEQOFQC8GY34 | Long             | EC               | CORP              | US        |      1566 | NS      | $144604.44    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Brinker International Inc      | Brinker International Inc                  | CUSIP: 109641100<br>LEI: 52990067JY6PBGJNTG76 | Long             | EC               | CORP              | US        |      1119 | NS      | $165835.80    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Palomar Holdings Inc           | Palomar Holdings Inc                       | CUSIP: 69753M105<br>LEI: 549300DOI1MUW11BLX74 | Long             | EC               | CORP              | US        |       698 | NS      | $86349.58     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Paylocity Holding Corp         | Paylocity Holding Corp                     | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |       755 | NS      | $80399.95     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Penske Automotive Group Inc    | Penske Automotive Group Inc                | CUSIP: 70959W103<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | EC               | CORP              | US        |       601 | NS      | $94669.52     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Perdoceo Education Corp        | Perdoceo Education Corp                    | CUSIP: 71363P106<br>LEI: 529900X5PCA184O9LY90 | Long             | EC               | CORP              | US        |      2629 | NS      | $87677.15     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp         | Permian Resources Corp                     | CUSIP: 71424F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18711 | NS      | $342224.19    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips Edison & Co Inc       | Phillips Edison & Co Inc                   | CUSIP: 71844V201<br>LEI: 549300JPN4YHYPXTJQ85 | Long             | EC               | CORP              | US        |      2962 | NS      | $116347.36    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Brink's Co/The                 | Brink's Co/The                             | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |       765 | NS      | $89329.05     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc     | Brixmor Property Group Inc                 | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |      7262 | NS      | $219820.74    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Buckle Inc/The                 | Buckle Inc/The                             | CUSIP: 118440106<br>LEI: 5299007IU0461T3GDL34 | Long             | EC               | CORP              | US        |      1708 | NS      | $91463.40     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Burlington Stores Inc          | Burlington Stores Inc                      | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |       482 | NS      | $147911.34    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO Financial Group Inc        | CNO Financial Group Inc                    | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |      1993 | NS      | $83327.33     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CNX Resources Corp             | CNX Resources Corp                         | CUSIP: 12653C108<br>LEI: 549300JK3KH8PWM3B226 | Long             | EC               | CORP              | US        |      2485 | NS      | $103823.30    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Phinia Inc                     | Phinia Inc                                 | CUSIP: 71880K101<br>LEI: 254900HG6MORZE1FFM18 | Long             | EC               | CORP              | US        |      1358 | NS      | $98631.54     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc         | CACI International Inc                     | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |       620 | NS      | $378305.40    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Cal-Maine Foods Inc            | Cal-Maine Foods Inc                        | CUSIP: 128030202<br>LEI: 549300NHE5WMIEIEMF53 | Long             | EC               | CORP              | US        |      1145 | NS      | $99740.95     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| California Resources Corp      | California Resources Corp                  | CUSIP: 13057Q305<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | EC               | CORP              | US        |      2006 | NS      | $118033.04    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CareTrust REIT Inc             | CareTrust REIT Inc                         | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               | CORP              | US        |      3148 | NS      | $127871.76    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corp      | Carpenter Technology Corp                  | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |       624 | NS      | $248395.68    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey's General Stores Inc     | Casey's General Stores Inc                 | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |      1052 | NS      | $721240.68    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Pharmaceuticals Inc   | Catalyst Pharmaceuticals Inc               | CUSIP: 14888U101<br>LEI: 5299004O0R5XXLA5H544 | Long             | EC               | CORP              | US        |      4094 | NS      | $94489.52     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay General Bancorp         | Cathay General Bancorp                     | CUSIP: 149150104<br>LEI: 549300K1SLJ8C97H5L68 | Long             | EC               | CORP              | US        |      1541 | NS      | $76603.11     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Cavco Industries Inc           | Cavco Industries Inc                       | CUSIP: 149568107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       176 | NS      | $101597.76    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Cirrus Logic Inc               | Cirrus Logic Inc                           | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |      2609 | NS      | $368182.08    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors Inc              | Clean Harbors Inc                          | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |       857 | NS      | $251272.40    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Consolidated Inc     | Coca-Cola Consolidated Inc                 | CUSIP: 191098102<br>LEI: 57VG5X0E00X0QJU7CQ58 | Long             | EC               | CORP              | US        |      2361 | NS      | $477866.40    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                  | Coherent Corp                              | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |      2490 | NS      | $644735.70    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Metals Co           | Commercial Metals Co                       | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |      1809 | NS      | $132599.70    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentra Group Holdings Paren | Concentra Group Holdings Parent Inc        | CUSIP: 20603L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4257 | NS      | $101997.72    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Core & Main Inc                | Core & Main Inc                            | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2314 | NS      | $125326.24    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc         | Cousins Properties Inc                     | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |      4119 | NS      | $95396.04     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                 | EPR Properties                             | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |      1581 | NS      | $93927.21     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| ESCO Technologies Inc          | ESCO Technologies Inc                      | CUSIP: 296315104<br>LEI: 5493007JJLP5MEWVDH10 | Long             | EC               | CORP              | US        |       704 | NS      | $195212.16    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Tr | Essential Properties Realty Trust Inc      | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |      2801 | NS      | $95065.94     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC Investment Corp           | MGIC Investment Corp                       | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |      5902 | NS      | $156580.06    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc                        | MKS Inc                                    | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |      1670 | NS      | $408248.20    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Mohawk Industries Inc          | Mohawk Industries Inc                      | CUSIP: 608190104<br>LEI: 549300JI1115MG3Q6322 | Long             | EC               | CORP              | US        |      1349 | NS      | $168989.23    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Moog Inc                       | Moog Inc                                   | CUSIP: 615394202<br>LEI: 549300WM2I4U7OBAHG07 | Long             | EC               | CORP              | US        |       960 | NS      | $323932.80    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries Inc         | Mueller Industries Inc                     | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |      3632 | NS      | $428430.72    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Water Products Inc     | Mueller Water Products Inc                 | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |      4190 | NS      | $125406.70    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy USA Inc                 | Murphy USA Inc                             | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |       427 | NS      | $166845.98    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| NMI Holdings Inc               | NMI Holdings Inc                           | CUSIP: 629209305<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | EC               | CORP              | US        |      2031 | NS      | $79838.61     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV Inc                        | NOV Inc                                    | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |      4409 | NS      | $89326.34     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| National HealthCare Corp       | National HealthCare Corp                   | CUSIP: 635906100<br>LEI: 254900PTS11LS1JS2752 | Long             | EC               | CORP              | US        |       551 | NS      | $90088.50     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| National Fuel Gas Co           | National Fuel Gas Co                       | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |      2722 | NS      | $247783.66    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT Inc                   | NNN REIT Inc                               | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |      3497 | NS      | $158484.04    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc     | Neurocrine Biosciences Inc                 | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |      1850 | NS      | $244662.50    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| New Jersey Resources Corp      | New Jersey Resources Corp                  | CUSIP: 646025106<br>LEI: 549300QKBSQBIX4DQ583 | Long             | EC               | CORP              | US        |      2121 | NS      | $115043.04    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Times Co/The          | New York Times Co/The                      | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |      5794 | NS      | $462303.26    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| NewMarket Corp                 | NewMarket Corp                             | CUSIP: 651587107<br>LEI: 54930082CG88ERDREQ47 | Long             | EC               | CORP              | US        |       238 | NS      | $148990.38    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Nextpower Inc                  | Nextpower Inc                              | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1649 | NS      | $173309.90    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group Inc        | Nexstar Media Group Inc                    | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |       829 | NS      | $208095.58    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Pilgrim's Pride Corp           | Pilgrim's Pride Corp                       | CUSIP: 72147K108<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | EC               | CORP              | US        |      5254 | NS      | $226762.64    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle Financial Partners In | Pinnacle Financial Partners Inc            | CUSIP: 72348N109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3641 | NS      | $330457.16    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinterest Inc                  | Pinterest Inc                              | CUSIP: 72352L106<br>LEI: 529900Y043CEBGO4HB65 | Long             | EC               | CORP              | US        |     13043 | NS      | $223426.59    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Plexus Corp                    | Plexus Corp                                | CUSIP: 729132100<br>LEI: 549300W7HCBI5YT25I79 | Long             | EC               | CORP              | US        |      1348 | NS      | $261687.24    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Essent Group Ltd               | Essent Group Ltd                           | CUSIP: N/A<br>LEI: 254900QUO860OUT6ZF83       | Long             | EC               | CORP              | BM        |      2725 | NS      | $165789.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| nVent Electric PLC             | nVent Electric PLC                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | GB        |      2912 | NS      | $344664.32    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Bath & Body Works Inc          | Bath & Body Works Inc                      | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |      4099 | NS      | $93293.24     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| BGC Group Inc                  | BGC Group Inc                              | CUSIP: 088929104<br>LEI: 2549001IGRCG4F0RLD36 | Long             | EC               | CORP              | US        |      9924 | NS      | $94476.48     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| BioMarin Pharmaceutical Inc    | BioMarin Pharmaceutical Inc                | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |      5354 | NS      | $330502.42    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corp               | Black Hills Corp                           | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |      1692 | NS      | $124632.72    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentex Corp                    | Gentex Corp                                | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Long             | EC               | CORP              | US        |      7143 | NS      | $167146.20    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Genworth Financial Inc         | Genworth Financial Inc                     | CUSIP: 37247D106<br>LEI: 549300EMCG286BDNKJ33 | Long             | EC               | CORP              | US        |      6770 | NS      | $57138.80     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Globus Medical Inc             | Globus Medical Inc                         | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |      3608 | NS      | $344419.68    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Genpact Ltd                    | Genpact Ltd                                | CUSIP: N/A<br>LEI: 529900OSEC6Q0L4L5B35       | Long             | EC               | CORP              | US        |      3028 | NS      | $120272.16    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Archrock Inc                   | Archrock Inc                               | CUSIP: 03957W106<br>LEI: 549300K3RIHMHDVFTL28 | Long             | EC               | CORP              | US        |      2428 | NS      | $85781.24     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcosa Inc                     | Arcosa Inc                                 | CUSIP: 039653100<br>LEI: 549300WFHLTCZV7D6V29 | Long             | EC               | CORP              | US        |      1293 | NS      | $138971.64    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Armstrong World Industries Inc | Armstrong World Industries Inc             | CUSIP: 04247X102<br>LEI: KXMRXXOJ88Q45Y45MG74 | Long             | EC               | CORP              | US        |      1037 | NS      | $179919.50    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrow Electronics Inc          | Arrow Electronics Inc                      | CUSIP: 042735100<br>LEI: 549300YNNLBXT8N8R512 | Long             | EC               | CORP              | US        |      1998 | NS      | $304015.68    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrowhead Pharmaceuticals Inc  | Arrowhead Pharmaceuticals Inc              | CUSIP: 04280A100<br>LEI: 549300O3CSB8T7OZ3D66 | Long             | EC               | CORP              | US        |      1982 | NS      | $125401.14    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| H&R Block Inc                  | H&R Block Inc                              | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |      2535 | NS      | $77621.70     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Graco Inc                      | Graco Inc                                  | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |      3954 | NS      | $371359.68    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Graham Holdings Co             | Graham Holdings Co                         | CUSIP: 384637104<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | EC               | CORP              | US        |       149 | NS      | $156928.29    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Grand Canyon Education Inc     | Grand Canyon Education Inc                 | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |       622 | NS      | $98941.54     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Granite Construction Inc       | Granite Construction Inc                   | CUSIP: 387328107<br>LEI: 549300OM4BWMCIXVCZ39 | Long             | EC               | CORP              | US        |       726 | NS      | $97617.96     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Green Brick Partners Inc       | Green Brick Partners Inc                   | CUSIP: 392709101<br>LEI: 549300R7SCIV7FQI6T56 | Long             | EC               | CORP              | US        |      1474 | NS      | $108574.84    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Guidewire Software Inc         | Guidewire Software Inc                     | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |      2428 | NS      | $352836.96    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| HCI Group Inc                  | HCI Group Inc                              | CUSIP: 40416E103<br>LEI: 549300CZF7EZJH0MPH74 | Long             | EC               | CORP              | US        |       341 | NS      | $60159.22     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Haemonetics Corp               | Haemonetics Corp                           | CUSIP: 405024100<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | EC               | CORP              | US        |      1874 | NS      | $118661.68    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc      | Halozyme Therapeutics Inc                  | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |      2395 | NS      | $166524.35    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanover Insurance Group Inc/Th | Hanover Insurance Group Inc/The            | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |       980 | NS      | $177017.40    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| AZZ Inc                        | AZZ Inc                                    | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |       899 | NS      | $122246.02    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ATI Inc                        | ATI Inc                                    | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |      2996 | NS      | $490115.64    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Associated Banc-Corp           | Associated Banc-Corp                       | CUSIP: 045487105<br>LEI: 549300N3CIN473IW5094 | Long             | EC               | CORP              | US        |      4163 | NS      | $109944.83    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlantic Union Bankshares Corp | Atlantic Union Bankshares Corp             | CUSIP: 04911A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2661 | NS      | $98616.66     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Autoliv Inc                    | Autoliv Inc                                | CUSIP: 052800109<br>LEI: A23RUXWKASG834LTMK28 | Long             | EC               | CORP              | SE        |      1149 | NS      | $136179.48    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoNation Inc                 | AutoNation Inc                             | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       950 | NS      | $185402.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corp                    | Avista Corp                                | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |      2277 | NS      | $92491.74     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Axos Financial Inc             | Axos Financial Inc                         | CUSIP: 05465C100<br>LEI: 529900D8M56422GK9O25 | Long             | EC               | CORP              | US        |       715 | NS      | $62076.30     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Balchem Corp                   | Balchem Corp                               | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |       963 | NS      | $174717.09    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| BankUnited Inc                 | BankUnited Inc                             | CUSIP: 06652K103<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | EC               | CORP              | US        |      1965 | NS      | $91765.50     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Assured Guaranty Ltd           | Assured Guaranty Ltd                       | CUSIP: N/A<br>LEI: 549300BBOQUJEPH87M14       | Long             | EC               | CORP              | BM        |       698 | NS      | $60174.58     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-29

**Name of Applicant:** Horizon Funds

**Signature:** /s/ Stephen Terry

**Name of Signer:** Stephen Terry

**Title:** Chief Financial Officer