# EDGAR Filing Document

**Accession Number:** 0000315774
**File Stem:** 0001752724-23-050133
**Filing Date:** 2023-3
**Character Count:** 103349
**Document Hash:** 84852d71557ceb9278ba24270747b297
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-050133.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001752724-23-050133

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

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20220930

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FORUM FUNDS
- **CENTRAL INDEX KEY:** 0000315774
- **IRS NUMBER:** 010516963
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03023
- **FILM NUMBER:** 23693259

**BUSINESS ADDRESS:**
- **STREET 1:** THREE CANAL PLAZA
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04101
- **BUSINESS PHONE:** 2073472000

**MAIL ADDRESS:**
- **STREET 1:** FORUM FUNDS
- **STREET 2:** THREE CANAL PLAZA
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04101

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FORUM FUNDS INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FAHNESTOCK DAILY INCOME FUND INC
- **DATE OF NAME CHANGE:** 19870617

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DAILY INCOME EXTENSION FUND INC
- **DATE OF NAME CHANGE:** 19810607

## Series and Classes Contracts Data

### Absolute Convertible Arbitrage Fund (Series ID: S000056818)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000180494 | Institutional Shares | ARBIX           |
| C000226084 | Investor Shares      | ARBOX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-03023

- **c. CIK number of Registrant:** 0000315774

- **d. LEI of Registrant:** 549300LXYEU14CHGAO13

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

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

  - **City:** PORTLAND

  - **State:** ME

  - **Foreign country:** US

  - **Zip / Postal Code:** 04101

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

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

- **a. Name of Series:** ABSOLUTE CONVERTIBLE ARBITRAGE FUND

- **b. EDGAR series identifier (if any):** S000056818

- **c. LEI of Series:** 254900X33KL2ACION121

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

- **a. Date of fiscal year-end:** 2023-03-31

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

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1177226790.98

**Total Liabilities:** $298851324.79

**Net Assets:** $878375466.19

**Cash Not Reported:** $355508115.51

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 1.98742808 | **1-Year:** 51049.32372729 | **5-Year:** 126354.05865415 | **10-Year:** 3634.33484082 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000180494 | 0.93%                | 1.20%                | -0.91%               |
| Class ID C000226084 | 0.93%                | 1.11%                | -0.91%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1048454.36              | $6482719.22                                |
| Month 2  | $-1105805.51             | $7316078.50                                |
| Month 3  | $941116.96               | $-14050514.91                              |

**Designated Index Information**

- **Index Name:** ICE BofAML US High Yield Index

- **Index Identifier:** H0A0

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Ironwood Pharmaceuticals Inc             | Ironwood Pharmaceuticals, Inc.              | CUSIP: 46333X108<br>LEI: 549300PC8MR6QHH6P296 | Short            | EC               | CORP              | US        |   -140735 | NS      | $-1458014.60  | -0.17%            |  |  |  | No            |                  1 | On Loan: No      |
| PARSONS CORP                             | Parsons Corp.                               | CUSIP: 70202LAB8<br>LEI: 549300ZXH0VRBSEPX752 | Long             | DBT              | CORP              | US        |   9477000 | PA      | $9799218.00   | 1.12%             | 2025-08-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Alarm.com Holdings Inc                   | Alarm.com Holdings, Inc.                    | CUSIP: 011642105<br>LEI: 549300HIH92U1EKIHZ32 | Short            | EC               | CORP              | US        |    -19540 | NS      | $-1267364.40  | -0.14%            |  |  |  | No            |                  1 | On Loan: No      |
| Dropbox Inc                              | Dropbox, Inc.                               | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Short            | EC               | CORP              | US        |    -85800 | NS      | $-1777776.00  | -0.20%            |  |  |  | No            |                  1 | On Loan: No      |
| JAMF HOLDING CORP                        | Jamf Holding Corp.                          | CUSIP: 47074LAB1<br>LEI: 254900IHLXZU4Z5ANA12 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2446500.00   | 0.28%             | 2026-09-01      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| LivePerson Inc                           | LivePerson, Inc.                            | CUSIP: 538146101<br>LEI: 549300IN2P1JZ20G7N40 | Short            | EC               | CORP              | US        |    -22224 | NS      | $-209350.08   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| PENN ENTERTAINMENT INC                   | Penn Entertainment, Inc.                    | CUSIP: 707569AU3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1404500.00   | 0.16%             | 2026-05-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Airbnb Inc                               | Airbnb, Inc.                                | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Short            | EC               | CORP              | US        |     -8486 | NS      | $-891369.44   | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Wayfair Inc                              | Wayfair, Inc.                               | CUSIP: 94419L101<br>LEI: 54930027N9ZAVYFDHK53 | Short            | EC               | CORP              | US        |    -22700 | NS      | $-738885.00   | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| REDFIN CORP                              | Redfin Corp.                                | CUSIP: 75737FAC2<br>LEI: 549300HXWD3JEMZU3O57 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $887850.00    | 0.10%             | 2025-10-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Stride Inc                               | Stride, Inc.                                | CUSIP: 86333M108<br>LEI: 254900BRWS3AFONWU277 | Short            | EC               | CORP              | US        |    -94500 | NS      | $-3971835.00  | -0.45%            |  |  |  | No            |                  1 | On Loan: No      |
| BLACKLINE INC                            | Blackline, Inc.                             | CUSIP: 09239BAD1<br>LEI: 529900P9N7PK9LV5EK56 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $6105000.00   | 0.70%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SOLAR EDGE TECHNOLOGIES                  | SolarEdge Technologies, Inc.                | CUSIP: 83417MAD6<br>LEI: 5493000K6Y58XXPDF853 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4374000.00   | 0.50%             | 2025-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN EAGLE OUTFITTER                 | American Eagle Outfitters, Inc.             | CUSIP: 02553EAB2<br>LEI: 5299001Z9HXK01DHW793 | Long             | DBT              | CORP              | US        |   2144000 | PA      | $2934600.00   | 0.33%             | 2025-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Coupa Software Inc                       | Coupa Software, Inc.                        | CUSIP: 22266L106<br>LEI: 549300Q95ICR2GFL2K37 | Short            | EC               | CORP              | US        |     -7304 | NS      | $-429475.20   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| CENTURY ALUMINUM COMPANY                 | Century Aluminum Co.                        | CUSIP: 156431AQ1<br>LEI: 549300U5ODNGEYWKSW73 | Long             | DBT              | CORP              | US        |   3700000 | PA      | $2286600.00   | 0.26%             | 2028-05-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| OIL STATES INTL INC                      | Oil States International, Inc.              | CUSIP: 678026AK1<br>LEI: 5493004TF4KQJGMYL777 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $7263000.00   | 0.83%             | 2026-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                      | NCL Corp., Ltd.                             | CUSIP: 62886HBC4<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   5150000 | PA      | $3251051.26   | 0.37%             | 2027-02-15      | Fixed         | 1.12%                 | Yes           |                  2 | On Loan: No      |
| ARTIVION INC                             | Artivion, Inc.                              | CUSIP: 228903AB6<br>LEI: 549300YTKV8DMSMG6K81 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $8476676.91   | 0.97%             | 2025-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Cloudflare Inc                           | Cloudflare, Inc.                            | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Short            | EC               | CORP              | US        |     -8990 | NS      | $-497236.90   | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| ASCENDIS PHARMA A/S                      | Ascendis Pharma A/S                         | CUSIP: 04351PAC5<br>LEI: 549300B66JN3W3J8GH73 | Long             | DBT              | CORP              | DK        |   4688000 | PA      | $4336883.85   | 0.49%             | 2028-04-01      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| Blackline Inc                            | BlackLine, Inc.                             | CUSIP: 09239B109<br>LEI: 529900P9N7PK9LV5EK56 | Short            | EC               | CORP              | US        |    -37084 | NS      | $-2221331.60  | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| PORCH GROUP INC                          | Porch Group, Inc.                           | CUSIP: 733245AA2<br>LEI: 549300NXEI7CVW8IXQ90 | Long             | DBT              | CORP              | US        |   5705000 | PA      | $3277522.50   | 0.37%             | 2026-09-15      | Fixed         | 0.75%                 | Yes           |                  2 | On Loan: No      |
| Topgolf Callaway Brands Corp             | Topgolf Callaway Brands Corp.               | CUSIP: 131193104<br>LEI: 5493005UB0KFRKBPCU72 | Short            | EC               | CORP              | US        |   -115400 | NS      | $-2222604.00  | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| Jamf Holding Corp                        | Jamf Holding Corp.                          | CUSIP: 47074L105<br>LEI: 254900IHLXZU4Z5ANA12 | Short            | EC               | CORP              | US        |    -27200 | NS      | $-602752.00   | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| MP MATERIALS CORP                        | MP Materials Corp.                          | CUSIP: 553368AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5478000.00   | 0.62%             | 2026-04-01      | Fixed         | 0.25%                 | Yes           |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd              | Royal Caribbean Cruises, Ltd.               | CUSIP: V7780T103<br>LEI: K2NEH8QNVW44JIWK7Z55 | Short            | EC               | CORP              | LR        |    -85600 | NS      | $-3244240.00  | -0.37%            |  |  |  | No            |                  1 | On Loan: No      |
| LUMENTUM HOLDINGS INC                    | Lumentum Holdings, Inc.                     | CUSIP: 55024UAD1<br>LEI: 549300JLWRRC38DWEF52 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9375000.00   | 1.07%             | 2026-12-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| BRIDGEBIO PHARMA INC                     | Bridgebio Pharma, Inc.                      | CUSIP: 10806XAD4<br>LEI: 54930028YG89VTY2J114 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $2218500.00   | 0.25%             | 2029-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| MIDDLEBY CORP                            | The Middleby Corp.                          | CUSIP: 596278AB7<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | DBT              | CORP              | US        |   5890000 | PA      | $6746995.00   | 0.77%             | 2025-09-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Magnite Inc                              | Magnite, Inc.                               | CUSIP: 55955D100<br>LEI: 54930018FR2YX1HHSB02 | Short            | EC               | CORP              | US        |    -15500 | NS      | $-101835.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Rapid7 Inc                               | Rapid7, Inc.                                | CUSIP: 753422104<br>LEI: 549300GNVG5D60KEYN14 | Short            | EC               | CORP              | US        |    -77616 | NS      | $-3329726.40  | -0.38%            |  |  |  | No            |                  1 | On Loan: No      |
| DIGITALOCEAN HOLDINGS                    | DigitalOcean Holdings, Inc.                 | CUSIP: 25402DAA0<br>LEI: 549300EPISPY3RE3DL21 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $5110000.00   | 0.58%             | 2026-12-01      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| SMILEDIRECTCLUB INC                      | SmileDirectClub, Inc.                       | CUSIP: 83192HAA4<br>LEI: 254900QFZEGKCURCJS93 | Long             | DBT              | CORP              | US        |   5626000 | PA      | $668361.49    | 0.08%             | 2026-02-01      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LCI INDUSTRIES                           | LCI Industries                              | CUSIP: 501812AB7<br>LEI: 549300E1B98YNJ1WIQ04 | Long             | DBT              | CORP              | US        |   5186000 | PA      | $4454774.00   | 0.51%             | 2026-05-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Spirit Airlines Inc                      | Spirit Airlines, Inc.                       | CUSIP: 848577102<br>LEI: 549300DCAFIXFNFR3304 | Short            | EC               | CORP              | US        |    -32900 | NS      | $-619178.00   | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| EXACT SCIENCES CORP                      | Exact Sciences Corp.                        | CUSIP: 30063PAA3<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | DBT              | CORP              | US        |   2077000 | PA      | $1856318.75   | 0.21%             | 2025-01-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| EVOLENT HEALTH INC                       | Evolent Health, Inc.                        | CUSIP: 30050BAD3<br>LEI: 549300CZOCFHQ2BBTR11 | Long             | DBT              | CORP              | US        |   3994000 | PA      | $5050413.00   | 0.57%             | 2025-10-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| ALARM.COM HLDGS INC                      | Alarm.com Holdings, Inc.                    | CUSIP: 011642AB1<br>LEI: 549300HIH92U1EKIHZ32 | Long             | DBT              | CORP              | US        |   8110000 | PA      | $6670475.00   | 0.76%             | 2026-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EVENTBRITE INC                           | Eventbrite, Inc.                            | CUSIP: 29975EAD1<br>LEI: 549300N6XBV2B1FAUF55 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $3422102.75   | 0.39%             | 2026-09-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Palo Alto Networks Inc                   | Palo Alto Networks, Inc.                    | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Short            | EC               | CORP              | US        |    -46082 | NS      | $-7547770.78  | -0.86%            |  |  |  | No            |                  1 | On Loan: No      |
| BLACKLINE INC                            | Blackline, Inc.                             | CUSIP: 09239BAB5<br>LEI: 529900P9N7PK9LV5EK56 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2598500.00   | 0.30%             | 2024-08-01      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| FISKER INC                               | Fisker, Inc.                                | CUSIP: 33813JAA4<br>LEI: 549300UUN5RWU44MBX79 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $3124965.30   | 0.36%             | 2026-09-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| SUNNOVA ENERGY INTL INC                  | Sunnova Energy International, Inc.          | CUSIP: 86745KAG9<br>LEI: 549300JK1Y1VVC3JU540 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3129000.00   | 0.36%             | 2028-02-15      | Fixed         | 2.62%                 | Yes           |                  2 | On Loan: No      |
| National Vision Holdings Inc             | National Vision Holdings, Inc.              | CUSIP: 63845R107<br>LEI: 549300JHURCBLI5ROA42 | Short            | EC               | CORP              | US        |    -86019 | NS      | $-2808520.35  | -0.32%            |  |  |  | No            |                  1 | On Loan: No      |
| PetIQ Inc                                | PetIQ, Inc.                                 | CUSIP: 71639T106<br>LEI: 549300GROACFGKVYOX14 | Short            | EC               | CORP              | US        |    -98300 | NS      | $-678270.00   | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| ALLSCRIPTS HEALTHCARE SO                 | Allscripts Healthcare Solutions, Inc.       | CUSIP: 01988PAF5<br>LEI: Y68YJHVB1GU4TAU3C223 | Long             | DBT              | CORP              | US        |  11255000 | PA      | $14350125.00  | 1.63%             | 2027-01-01      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| STEM INC                                 | Stem, Inc.                                  | CUSIP: 85859NAA0<br>LEI: 549300GVWIYFILN5V546 | Long             | DBT              | CORP              | US        |   7890000 | PA      | $5893830.00   | 0.67%             | 2028-12-01      | Fixed         | 0.50%                 | Yes           |                  2 | On Loan: No      |
| Workiva Inc                              | Workiva, Inc.                               | CUSIP: 98139A105<br>LEI: 529900RTOQ8GRWHY1O58 | Short            | EC               | CORP              | US        |    -67064 | NS      | $-5217579.20  | -0.59%            |  |  |  | No            |                  1 | On Loan: No      |
| Allscripts Healthcare Solution           | Allscripts Healthcare Solutions, Inc.       | CUSIP: 01988P108<br>LEI: Y68YJHVB1GU4TAU3C223 | Short            | EC               | CORP              | US        |   -691260 | NS      | $-10527889.80 | -1.20%            |  |  |  | No            |                  1 | On Loan: No      |
| CHART INDUSTRIES INC                     | Chart Industries, Inc.                      | CUSIP: 16115QAD2<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |   2280000 | PA      | $7176984.00   | 0.82%             | 2024-11-15      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| Green Plains Inc                         | Green Plains, Inc.                          | CUSIP: 393222104<br>LEI: VJ5WLTHARBSDR14KIZ98 | Short            | EC               | CORP              | US        |   -121200 | NS      | $-3523284.00  | -0.40%            |  |  |  | No            |                  1 | On Loan: No      |
| KBR INC                                  | KBR, Inc.                                   | CUSIP: 48242WAB2<br>LEI: 254900OFQDXZRKRCV808 | Long             | DBT              | CORP              | US        |   5620000 | PA      | $9795660.00   | 1.12%             | 2023-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Model N Inc                              | Model N, Inc.                               | CUSIP: 607525102<br>LEI: 549300WCIL3W0EYSBN94 | Short            | EC               | CORP              | US        |   -139941 | NS      | $-4790180.43  | -0.55%            |  |  |  | No            |                  1 | On Loan: No      |
| John Bean Technologies Corp              | John Bean Technologies Corp.                | CUSIP: 477839104<br>LEI: 5493007CT6ATBZ2L6826 | Short            | EC               | CORP              | US        |    -17320 | NS      | $-1489520.00  | -0.17%            |  |  |  | No            |                  1 | On Loan: No      |
| VEECO INSTRUMENTS INC                    | Veeco Instruments, Inc.                     | CUSIP: 922417AF7<br>LEI: 5493004201F72ADDZW04 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $4591500.00   | 0.52%             | 2027-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TABULA RASA HLTHCR INC                   | Tabula Rasa HealthCare, Inc.                | CUSIP: 873379AA9<br>LEI: 549300K6KY242XRMEF28 | Long             | DBT              | CORP              | US        |   4086000 | PA      | $3297597.19   | 0.38%             | 2026-02-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| CONMED CORP                              | CONMED Corp.                                | CUSIP: 207410AF8<br>LEI: Z6C0YCECH9DCU5ZIQW84 | Long             | DBT              | CORP              | US        |   4035000 | PA      | $4442535.00   | 0.51%             | 2024-02-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Fastly Inc                               | Fastly, Inc.                                | CUSIP: 31188V100<br>LEI: 549300E2FZC83FJ3H565 | Short            | EC               | CORP              | US        |    -13942 | NS      | $-127708.72   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| IMAX CORP                                | IMAX Corp.                                  | CUSIP: 45245EAJ8<br>LEI: 5493002KS2T1Q0X7VZ21 | Long             | DBT              | CORP              | CA        |   9190000 | PA      | $7616672.00   | 0.87%             | 2026-04-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| ORMAT TECHNOLOGIES INC                   | Ormat Technologies, Inc.                    | CUSIP: 686688AA0<br>LEI: 5493000TSHHWY24VHM09 | Long             | DBT              | CORP              | US        |  11000000 | PA      | $12661000.00  | 1.44%             | 2027-07-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| NOVOCURE LTD                             | Novocure, Ltd.                              | CUSIP: 67011XAB9<br>LEI: 213800YPP55UMHWA4826 | Long             | DBT              | CORP              | JE        |   3500000 | PA      | $3164085.72   | 0.36%             | 2025-11-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WINNEBAGO INDUSTRIES                     | Winnebago Industries, Inc.                  | CUSIP: 974637AB6<br>LEI: 549300B7OYKYJLTE3G11 | Long             | DBT              | CORP              | US        |   7061000 | PA      | $7418463.13   | 0.84%             | 2025-04-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| GROUPON INC                              | Groupon, Inc.                               | CUSIP: 399473AF4<br>LEI: 5299005W5W1R5POQJL03 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $2217102.65   | 0.25%             | 2026-03-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                  | Royal Caribbean Cruises, Ltd.               | CUSIP: 780153BP6<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   5500000 | PA      | $5821750.00   | 0.66%             | 2025-08-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| ALPHATEC HOLDINGS INC                    | Alphatec Holdings, Inc.                     | CUSIP: 02081GAB8<br>LEI: 549300EZE8CQ8K65FS24 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $4890000.00   | 0.56%             | 2026-08-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Invacare Corp                            | Invacare Corp.                              | CUSIP: 461203101<br>LEI: 549300NNUTG7HCZICS76 | Short            | EC               | CORP              | US        |   -191000 | NS      | $-149037.30   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| CUTERA INC                               | Cutera, Inc.                                | CUSIP: 232109AC2<br>LEI: 529900NPKPEWJWR21Z42 | Long             | DBT              | CORP              | US        |   7250000 | PA      | $7917000.00   | 0.90%             | 2028-06-01      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| ALTERYX INC                              | Alteryx, Inc.                               | CUSIP: 02156BAF0<br>LEI: 549300XWZG0JHL7I0827 | Long             | DBT              | CORP              | US        |   8460000 | PA      | $6894900.00   | 0.78%             | 2026-08-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Unity Software Inc                       | Unity Software, Inc.                        | CUSIP: 91332U101<br>LEI: 549300D1ESJMGNQNG432 | Short            | EC               | CORP              | US        |     -4072 | NS      | $-129733.92   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| LCI Industries                           | LCI Industries                              | CUSIP: 50189K103<br>LEI: 549300E1B98YNJ1WIQ04 | Short            | EC               | CORP              | US        |    -16350 | NS      | $-1658871.00  | -0.19%            |  |  |  | No            |                  1 | On Loan: No      |
| Varex Imaging Corp                       | Varex Imaging Corp.                         | CUSIP: 92214X106<br>LEI: 549300CWYWPVCT8E9W67 | Short            | EC               | CORP              | US        |   -272869 | NS      | $-5768450.66  | -0.66%            |  |  |  | No            |                  1 | On Loan: No      |
| PROGRESS SOFTWARE CORP                   | Progress Software Corp.                     | CUSIP: 743312AB6<br>LEI: 549300R65B3JG6972S24 | Long             | DBT              | CORP              | US        |   6750000 | PA      | $6365250.00   | 0.72%             | 2026-04-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| KBR Inc                                  | KBR, Inc.                                   | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Short            | EC               | CORP              | US        |   -214842 | NS      | $-9285471.24  | -1.06%            |  |  |  | No            |                  1 | On Loan: No      |
| CRYOPORT INC                             | CryoPort, Inc.                              | CUSIP: 229050AC3<br>LEI: 9845004D8538BT8JF626 | Long             | DBT              | CORP              | US        |   8120000 | PA      | $5954114.89   | 0.68%             | 2026-12-01      | Fixed         | 0.75%                 | Yes           |                  2 | On Loan: No      |
| Fiverr International Ltd                 | Fiverr International, Ltd.                  | CUSIP: M4R82T106<br>LEI: 549300Z8OREY6THCPF67 | Short            | EC               | CORP              | IL        |     -6027 | NS      | $-184365.93   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Groupon Inc                              | Groupon, Inc.                               | CUSIP: 399473206<br>LEI: 5299005W5W1R5POQJL03 | Short            | EC               | CORP              | US        |    -23000 | NS      | $-183080.00   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Itron Inc                                | Itron, Inc.                                 | CUSIP: 465741106<br>LEI: 24F6LSZD18II6ICG6S41 | Short            | EC               | CORP              | US        |    -23792 | NS      | $-1001881.12  | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| CONMED CORP                              | CONMED Corp.                                | CUSIP: 207410AG6<br>LEI: Z6C0YCECH9DCU5ZIQW84 | Long             | DBT              | CORP              | US        |   6880000 | PA      | $5951200.00   | 0.68%             | 2027-06-15      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| Parsons Corp                             | Parsons Corp.                               | CUSIP: 70202L102<br>LEI: 549300ZXH0VRBSEPX752 | Short            | EC               | CORP              | US        |   -130704 | NS      | $-5123596.80  | -0.58%            |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc                | Halozyme Therapeutics, Inc.                 | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Short            | EC               | CORP              | US        |    -87000 | NS      | $-3439980.00  | -0.39%            |  |  |  | No            |                  1 | On Loan: No      |
| Eventbrite Inc                           | Eventbrite, Inc.                            | CUSIP: 29975E109<br>LEI: 549300N6XBV2B1FAUF55 | Short            | EC               | CORP              | US        |   -156836 | NS      | $-953562.88   | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Stem Inc                                 | Stem, Inc.                                  | CUSIP: 85859N102<br>LEI: 549300GVWIYFILN5V546 | Short            | EC               | CORP              | US        |   -162756 | NS      | $-2171165.04  | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| NuVasive Inc                             | NuVasive, Inc.                              | CUSIP: 670704105<br>LEI: 549300C5ZB4NZ6TWM881 | Short            | EC               | CORP              | US        |    -14800 | NS      | $-648388.00   | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| HELIX ENERGY SOLUTIONS                   | Helix Energy Solutions Group, Inc.          | CUSIP: 42330PAK3<br>LEI: 416AP2JOUTCWEGSOZW41 | Long             | DBT              | CORP              | US        |   8510000 | PA      | $8658925.00   | 0.99%             | 2026-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| INFINERA CORP                            | Infinera Corp.                              | CUSIP: 45667GAF0<br>LEI: 549300ZOF66WPV3H0H17 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1987000.00   | 0.23%             | 2028-08-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| MICROSTRATEGY INC                        | MicroStrategy, Inc.                         | CUSIP: 594972AE1<br>LEI: 549300WQTWEJUEHXQX21 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $684000.00    | 0.08%             | 2027-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Peabody Energy Corp                      | Peabody Energy Corp.                        | CUSIP: 704551100<br>LEI: EJCO258LNNVSKAR2JX59 | Short            | EC               | CORP              | US        |   -350292 | NS      | $-8694247.44  | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |
| MODEL N INC                              | Model N, Inc.                               | CUSIP: 607525AB8<br>LEI: 549300WCIL3W0EYSBN94 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $9856000.00   | 1.12%             | 2025-06-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Infinera Corp                            | Infinera Corp.                              | CUSIP: 45667G103<br>LEI: 549300ZOF66WPV3H0H17 | Short            | EC               | CORP              | US        |  -1062713 | NS      | $-5143530.92  | -0.59%            |  |  |  | No            |                  1 | On Loan: No      |
| Winnebago Industries Inc                 | Winnebago Industries, Inc.                  | CUSIP: 974637100<br>LEI: 549300B7OYKYJLTE3G11 | Short            | EC               | CORP              | US        |    -72400 | NS      | $-3852404.00  | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| FTI CONSULTING INC                       | FTI Consulting, Inc.                        | CUSIP: 302941AP4<br>LEI: 549300K17GM8EQD0FQ48 | Long             | DBT              | CORP              | US        |   4922000 | PA      | $8143941.20   | 0.93%             | 2023-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| INOTIV INC                               | Inotiv, Inc.                                | CUSIP: 45783QAB6<br>LEI: 549300FH5Z13X0Q5SK81 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $5200105.17   | 0.59%             | 2027-10-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| INFINERA CORP                            | Infinera Corp.                              | CUSIP: 45667GAC7<br>LEI: 549300ZOF66WPV3H0H17 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $916500.00    | 0.10%             | 2024-09-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Jazz Pharmaceuticals PLC                 | Jazz Pharmaceuticals PLC                    | CUSIP: G50871105<br>LEI: 635400GAUMJCLEZRRV50 | Short            | EC               | CORP              | IE        |    -22859 | NS      | $-3046876.11  | -0.35%            |  |  |  | No            |                  1 | On Loan: No      |
| Pacira BioSciences Inc                   | Pacira BioSciences, Inc.                    | CUSIP: 695127100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -45632 | NS      | $-2427166.08  | -0.28%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERDIGITAL INC                         | InterDigital, Inc.                          | CUSIP: 45867GAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5542000 | PA      | $5202552.50   | 0.59%             | 2024-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| UPWORK INC                               | Upwork, Inc.                                | CUSIP: 91688FAB0<br>LEI: 5493004QJ6WWBXVE2S70 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $4410300.00   | 0.50%             | 2026-08-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| American Airlines Group Inc              | American Airlines Group, Inc.               | CUSIP: 02376R102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -295469 | NS      | $-3557446.76  | -0.41%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares iBoxx High Yield Corpo           | iShares iBoxx High Yield Corporate Bond ETF | CUSIP: 464288513<br>LEI: N/A                  | Long             | EC               | RF                | US        |     50000 | NS      | $3569500.00   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ITRON INC                                | Itron, Inc.                                 | CUSIP: 465741AN6<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | DBT              | CORP              | US        |   8558000 | PA      | $6726588.00   | 0.77%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WIX LTD                                  | Wix.com, Ltd.                               | CUSIP: 92940WAD1<br>LEI: 5493008P6N29Q1AG9464 | Long             | DBT              | CORP              | IL        |   6150000 | PA      | $5175225.00   | 0.59%             | 2025-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| VERINT SYSTEMS INC                       | Verint Systems, Inc.                        | CUSIP: 92343XAC4<br>LEI: 549300KEQJS5FRVUCO94 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $4589750.00   | 0.52%             | 2026-04-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| NATIONAL VISION HOLDINGS                 | National Vision Holdings, Inc.              | CUSIP: 63845RAB3<br>LEI: 549300JHURCBLI5ROA42 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4965200.00   | 0.57%             | 2025-05-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GOPRO INC                                | GoPro, Inc.                                 | CUSIP: 38268TAD5<br>LEI: 549300CQJMLT21SZFL16 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $5808149.56   | 0.66%             | 2025-11-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| ALNYLAM PHARMACEUTICALS                  | Alnylam Pharmaceuticals, Inc.               | CUSIP: 02043QAA5<br>LEI: 529900S3ZI14OWRJII50 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $976000.00    | 0.11%             | 2027-09-15      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| VAREX IMAGING CORPORATIO                 | Varex Imaging Corp.                         | CUSIP: 92214XAB2<br>LEI: 549300CWYWPVCT8E9W67 | Long             | DBT              | CORP              | US        |   7725000 | PA      | $9292229.85   | 1.06%             | 2025-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SolarEdge Technologies Inc               | SolarEdge Technologies, Inc.                | CUSIP: 83417M104<br>LEI: 5493000K6Y58XXPDF853 | Short            | EC               | CORP              | US        |    -10220 | NS      | $-2365521.20  | -0.27%            |  |  |  | No            |                  1 | On Loan: No      |
| MITEK SYSTEMS INC                        | Mitek Systems, Inc.                         | CUSIP: 606710AA9<br>LEI: 549300ABZAQ3R25XG118 | Long             | DBT              | CORP              | US        |   4478000 | PA      | $3633141.83   | 0.41%             | 2026-02-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| First American Treasury Obligations Fund | First American Treasury Obligations Fund    | CUSIP: 31846V328<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  41459723 | NS      | $41459723.00  | 4.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Confluent Inc                            | Confluent, Inc.                             | CUSIP: 20717M103<br>LEI: 254900MRZ83YWUV7SN74 | Short            | EC               | CORP              | US        |    -13450 | NS      | $-319706.50   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| INVACARE CORP                            | Invacare Corp.                              | CUSIP: 461203AQ4<br>LEI: 549300NNUTG7HCZICS76 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $1872563.60   | 0.21%             | 2026-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Splunk Inc                               | Splunk, Inc.                                | CUSIP: 848637104<br>LEI: 549300XGDSGBP6UEI867 | Short            | EC               | CORP              | US        |     -4617 | NS      | $-347198.40   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| ENPHASE ENERGY INC                       | Enphase Energy, Inc.                        | CUSIP: 29355AAK3<br>LEI: 5493008U7KIGMI59Z314 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $8940000.00   | 1.02%             | 2028-03-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TechTarget Inc                           | TechTarget, Inc.                            | CUSIP: 87874R100<br>LEI: 529900YQA5JL2H2VMB84 | Short            | EC               | CORP              | US        |    -26600 | NS      | $-1574720.00  | -0.18%            |  |  |  | No            |                  1 | On Loan: No      |
| RAPID7 INC                               | Rapid7, Inc.                                | CUSIP: 753422AD6<br>LEI: 549300GNVG5D60KEYN14 | Long             | DBT              | CORP              | US        |   7467000 | PA      | $7502851.08   | 0.85%             | 2025-05-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Patrick Industries Inc                   | Patrick Industries, Inc.                    | CUSIP: 703343103<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Short            | EC               | CORP              | US        |    -36000 | NS      | $-1578240.00  | -0.18%            |  |  |  | No            |                  1 | On Loan: No      |
| Q2 HOLDINGS INC                          | Q2 Holdings, Inc.                           | CUSIP: 74736LAF6<br>LEI: 549300M9RKR9DZXWS696 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $3600000.00   | 0.41%             | 2025-11-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| Alphatec Holdings Inc                    | Alphatec Holdings, Inc.                     | CUSIP: 02081G201<br>LEI: 549300EZE8CQ8K65FS24 | Short            | EC               | CORP              | US        |   -164000 | NS      | $-1433360.00  | -0.16%            |  |  |  | No            |                  1 | On Loan: No      |
| PATRICK INDUSTRIES INC                   | Patrick Industries, Inc.                    | CUSIP: 703343AF0<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |   6400000 | PA      | $4664000.00   | 0.53%             | 2028-12-01      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| FIVERR INTERNATIONAL LTD                 | Fiverr International, Ltd.                  | CUSIP: 33835LAA3<br>LEI: 549300Z8OREY6THCPF67 | Long             | DBT              | CORP              | IL        |   6000000 | PA      | $4717800.00   | 0.54%             | 2025-11-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Mitek Systems Inc                        | Mitek Systems, Inc.                         | CUSIP: 606710200<br>LEI: 549300ABZAQ3R25XG118 | Short            | EC               | CORP              | US        |   -102300 | NS      | $-937068.00   | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| U.S. Treasury 5 Year Note Future         | U.S. Treasury 5 Year Note Future            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | USGSE             | US        |      -800 | NC      | $-86006250.40 | -9.79%            |  |  |  | No            |                  1 | On Loan: No      |
| Silicon Laboratories Inc                 | Silicon Laboratories, Inc.                  | CUSIP: 826919102<br>LEI: 4PRDF8Q9TDHRVZKZSZ47 | Short            | EC               | CORP              | US        |    -36767 | NS      | $-4538518.48  | -0.52%            |  |  |  | No            |                  1 | On Loan: No      |
| GREENBRIER COS INC                       | The Greenbrier Cos., Inc.                   | CUSIP: 393657AM3<br>LEI: 5493001GAGGFR30BP390 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $7895000.00   | 0.90%             | 2028-04-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Inotiv Inc                               | Inotiv, Inc.                                | CUSIP: 45783Q100<br>LEI: 549300FH5Z13X0Q5SK81 | Short            | EC               | CORP              | US        |    -87417 | NS      | $-1472976.45  | -0.17%            |  |  |  | No            |                  1 | On Loan: No      |
| Q2 HOLDINGS INC                          | Q2 Holdings, Inc.                           | CUSIP: 74736LAD1<br>LEI: 549300M9RKR9DZXWS696 | Long             | DBT              | CORP              | US        |   7338000 | PA      | $5837379.00   | 0.66%             | 2026-06-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| PEABODY ENERGY CORP                      | Peabody Energy Corp.                        | CUSIP: 704551AC4<br>LEI: EJCO258LNNVSKAR2JX59 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $11776000.00  | 1.34%             | 2028-03-01      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Veeco Instruments Inc                    | Veeco Instruments, Inc.                     | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Short            | EC               | CORP              | US        |   -178300 | NS      | $-3266456.00  | -0.37%            |  |  |  | No            |                  1 | On Loan: No      |
| Travere Therapeutics Inc                 | Travere Therapeutics, Inc.                  | CUSIP: 89422G107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -121300 | NS      | $-2988832.00  | -0.34%            |  |  |  | No            |                  1 | On Loan: No      |
| AIRBNB INC                               | Airbnb, Inc.                                | CUSIP: 009066AB7<br>LEI: 549300HMUDNO0RY56D37 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $5831000.00   | 0.66%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Lumentum Holdings Inc                    | Lumentum Holdings, Inc.                     | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Short            | EC               | CORP              | US        |    -63485 | NS      | $-4353166.45  | -0.50%            |  |  |  | No            |                  1 | On Loan: No      |
| Absolute Flexible Fund                   | Absolute Flexible Fund                      | CUSIP: 34985D109<br>LEI: N/A                  | Long             | EC               | RF                | US        |   1500000 | NS      | $14865000.00  | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| 1Life Healthcare Inc                     | 1Life Healthcare, Inc.                      | CUSIP: 68269G107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -31000 | NS      | $-531650.00   | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| WAYFAIR INC                              | Wayfair, Inc.                               | CUSIP: 94419LAN1<br>LEI: 54930027N9ZAVYFDHK53 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1587000.00   | 0.18%             | 2027-09-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Mesa Laboratories Inc                    | Mesa Laboratories, Inc.                     | CUSIP: 59064R109<br>LEI: 549300ZCG738WLX8ZW79 | Short            | EC               | CORP              | US        |    -15193 | NS      | $-2139630.19  | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| FIVE9 INC                                | Five9, Inc.                                 | CUSIP: 338307AD3<br>LEI: 254900MXP6EWY0SFFR59 | Long             | DBT              | CORP              | US        |   8500000 | PA      | $7730750.00   | 0.88%             | 2025-06-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Novocure Ltd                             | Novocure, Ltd.                              | CUSIP: G6674U108<br>LEI: 213800YPP55UMHWA4826 | Short            | EC               | CORP              | JE        |     -6900 | NS      | $-524262.00   | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| ASSERTIO HOLDINGS INC                    | Assertio Holdings, Inc.                     | CUSIP: 04546CAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2387162.10   | 0.27%             | 2027-09-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| NUVASIVE INC                             | NuVasive, Inc.                              | CUSIP: 670704AJ4<br>LEI: 549300C5ZB4NZ6TWM881 | Long             | DBT              | CORP              | US        |   4493000 | PA      | $3928566.88   | 0.45%             | 2025-03-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| EVOLENT HEALTH INC                       | Evolent Health, Inc.                        | CUSIP: 30050BAF8<br>LEI: 549300CZOCFHQ2BBTR11 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $3082500.00   | 0.35%             | 2024-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Five9 Inc                                | Five9, Inc.                                 | CUSIP: 338307101<br>LEI: 254900MXP6EWY0SFFR59 | Short            | EC               | CORP              | US        |    -24855 | NS      | $-1863627.90  | -0.21%            |  |  |  | No            |                  1 | On Loan: No      |
| Helix Energy Solutions Group I           | Helix Energy Solutions Group, Inc.          | CUSIP: 42330P107<br>LEI: 416AP2JOUTCWEGSOZW41 | Short            | EC               | CORP              | US        |   -551761 | NS      | $-2129797.46  | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Progress Software Corp                   | Progress Software Corp.                     | CUSIP: 743312100<br>LEI: 549300R65B3JG6972S24 | Short            | EC               | CORP              | US        |    -59700 | NS      | $-2540235.00  | -0.29%            |  |  |  | No            |                  1 | On Loan: No      |
| Penn Entertainment Inc                   | Penn Entertainment, Inc.                    | CUSIP: 707569109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -35100 | NS      | $-965601.00   | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Box Inc                                  | Box, Inc.                                   | CUSIP: 10316T104<br>LEI: 549300KQUCPD8687YS68 | Short            | EC               | CORP              | US        |   -226814 | NS      | $-5531993.46  | -0.63%            |  |  |  | No            |                  1 | On Loan: No      |
| MP Materials Corp                        | MP Materials Corp.                          | CUSIP: 553368101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -76369 | NS      | $-2084873.70  | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Bandwidth Inc                            | Bandwidth, Inc.                             | CUSIP: 05988J103<br>LEI: 549300QC70JB7MUGXM66 | Short            | EC               | CORP              | US        |    -13964 | NS      | $-166171.60   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| PACIRA PHARMACEUTICALS                   | Pacira BioSciences, Inc.                    | CUSIP: 695127AF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4931250.00   | 0.56%             | 2025-08-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| 2U INC                                   | 2U, Inc.                                    | CUSIP: 90214JAB7<br>LEI: 5493008RVTXVR43PYF84 | Long             | DBT              | CORP              | US        |   3300000 | PA      | $2264703.14   | 0.26%             | 2025-05-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| ALTAIR ENGINEERING INC                   | Altair Engineering, Inc.                    | CUSIP: 021369AB9<br>LEI: 549300FJ89HZ6GU9S994 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7172000.00   | 0.82%             | 2027-06-15      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| CAMTEK LTD/ISRAEL                        | Camtek, Ltd./Israel                         | CUSIP: 13469VAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | IL        |   5000000 | PA      | $3957500.00   | 0.45%             | 2026-12-01      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| BOX INC                                  | Box, Inc.                                   | CUSIP: 10316TAB0<br>LEI: 549300KQUCPD8687YS68 | Long             | DBT              | CORP              | US        |   7987000 | PA      | $8833622.00   | 1.01%             | 2026-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Exact Sciences Corp                      | Exact Sciences Corp.                        | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Short            | EC               | CORP              | US        |    -24300 | NS      | $-789507.00   | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| WORKIVA INC                              | Workiva, Inc.                               | CUSIP: 98139AAB1<br>LEI: 529900RTOQ8GRWHY1O58 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $9412000.00   | 1.07%             | 2026-08-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Granite Construction Inc                 | Granite Construction, Inc.                  | CUSIP: 387328107<br>LEI: 549300OM4BWMCIXVCZ39 | Short            | EC               | CORP              | US        |   -153266 | NS      | $-3891423.74  | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| LUMINAR TECHNOLOGIES INC                 | Luminar Technologies, Inc.                  | CUSIP: 550424AA3<br>LEI: 549300AVGXLDWYMI4298 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $5746500.00   | 0.65%             | 2026-12-15      | Fixed         | 1.25%                 | Yes           |                  2 | On Loan: No      |
| Sunnova Energy International I           | Sunnova Energy International, Inc.          | CUSIP: 86745K104<br>LEI: 549300JK1Y1VVC3JU540 | Short            | EC               | CORP              | US        |    -77500 | NS      | $-1711200.00  | -0.19%            |  |  |  | No            |                  1 | On Loan: No      |
| PROS HOLDINGS INC                        | PROS Holdings, Inc.                         | CUSIP: 74346YAG8<br>LEI: 549300LPE1KNL5RWKQ48 | Long             | DBT              | CORP              | US        |   3860000 | PA      | $3402590.00   | 0.39%             | 2027-09-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Chart Industries Inc                     | Chart Industries, Inc.                      | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Short            | EC               | CORP              | US        |    -38450 | NS      | $-7088257.50  | -0.81%            |  |  |  | No            |                  1 | On Loan: No      |
| Perficient Inc                           | Perficient, Inc.                            | CUSIP: 71375U101<br>LEI: 549300HTBXKL2755T650 | Short            | EC               | CORP              | US        |    -18366 | NS      | $-1194157.32  | -0.14%            |  |  |  | No            |                  1 | On Loan: No      |
| Middleby Corp/The                        | The Middleby Corp.                          | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Short            | EC               | CORP              | US        |    -34000 | NS      | $-4357780.00  | -0.50%            |  |  |  | No            |                  1 | On Loan: No      |
| TRAVERE THERAPEUTICS INC                 | Travere Therapeutics, Inc.                  | CUSIP: 89422GAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4090000.00   | 0.47%             | 2029-03-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| BANDWIDTH INC                            | Bandwidth, Inc.                             | CUSIP: 05988JAD5<br>LEI: 549300QC70JB7MUGXM66 | Long             | DBT              | CORP              | US        |   7240000 | PA      | $4282460.00   | 0.49%             | 2028-04-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Verint Systems Inc                       | Verint Systems, Inc.                        | CUSIP: 92343X100<br>LEI: 549300KEQJS5FRVUCO94 | Short            | EC               | CORP              | US        |    -41300 | NS      | $-1386854.00  | -0.16%            |  |  |  | No            |                  1 | On Loan: No      |
| MGP Ingredients Inc                      | MGP Ingredients, Inc.                       | CUSIP: 55303J106<br>LEI: 2549006OMHFVZ4MS8538 | Short            | EC               | CORP              | US        |    -80418 | NS      | $-8537174.88  | -0.97%            |  |  |  | No            |                  1 | On Loan: No      |
| SMART Global Holdings Inc                | SMART Global Holdings, Inc.                 | CUSIP: G8232Y101<br>LEI: 529900RDGHQY8XKXPN14 | Short            | EC               | CORP              | KY        |   -264287 | NS      | $-4194234.69  | -0.48%            |  |  |  | No            |                  1 | On Loan: No      |
| TRAVERE THERAPEUTICS INC                 | Travere Therapeutics, Inc.                  | CUSIP: 761299AB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2035000 | PA      | $2059165.63   | 0.23%             | 2025-09-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Gossamer Bio Inc                         | Gossamer Bio, Inc.                          | CUSIP: 38341P102<br>LEI: 549300ZOC0N2W6PSFR58 | Short            | EC               | CORP              | US        |   -160100 | NS      | $-1917998.00  | -0.22%            |  |  |  | No            |                  1 | On Loan: No      |
| COUPA SOFTWARE INC                       | Coupa Software, Inc.                        | CUSIP: 22266LAF3<br>LEI: 549300Q95ICR2GFL2K37 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $6188000.00   | 0.70%             | 2026-06-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| INTERDIGITAL INC                         | InterDigital, Inc.                          | CUSIP: 45867GAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3059000.00   | 0.35%             | 2027-06-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Cutera Inc                               | Cutera, Inc.                                | CUSIP: 232109108<br>LEI: 529900NPKPEWJWR21Z42 | Short            | EC               | CORP              | US        |   -105400 | NS      | $-4806240.00  | -0.55%            |  |  |  | No            |                  1 | On Loan: No      |
| SPLUNK INC                               | Splunk, Inc.                                | CUSIP: 848637AF1<br>LEI: 549300XGDSGBP6UEI867 | Long             | DBT              | CORP              | US        |   3320000 | PA      | $2628697.65   | 0.30%             | 2027-06-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Ormat Technologies Inc                   | Ormat Technologies, Inc.                    | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Short            | EC               | CORP              | US        |    -89373 | NS      | $-7703952.60  | -0.88%            |  |  |  | No            |                  1 | On Loan: No      |
| GRANITE CONSTRUCTION INC                 | Granite Construction, Inc.                  | CUSIP: 387328AB3<br>LEI: 549300OM4BWMCIXVCZ39 | Long             | DBT              | CORP              | US        |   8500000 | PA      | $8689125.00   | 0.99%             | 2024-11-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| CHEGG INC                                | Chegg, Inc.                                 | CUSIP: 163092AF6<br>LEI: 549300AKX7O8JG0O3G77 | Long             | DBT              | CORP              | US        |   6814000 | PA      | $5205786.57   | 0.59%             | 2026-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BENTLEY SYSTEMS                          | Bentley Systems, Inc.                       | CUSIP: 08265TAD1<br>LEI: 549300WVEHPGE0Z56F71 | Long             | DBT              | CORP              | US        |   8500000 | PA      | $6447250.00   | 0.73%             | 2027-07-01      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| VIRGIN GALACTIC HOLDINGS                 | Virgin Galactic Holdings, Inc.              | CUSIP: 92766KAA4<br>LEI: 549300C631IMXCSMN048 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $3348000.00   | 0.38%             | 2027-02-01      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| IMAX Corp                                | IMAX Corp.                                  | CUSIP: 45245E109<br>LEI: 5493002KS2T1Q0X7VZ21 | Short            | EC               | CORP              | CA        |   -145480 | NS      | $-2054177.60  | -0.23%            |  |  |  | No            |                  1 | On Loan: No      |
| FTI Consulting Inc                       | FTI Consulting, Inc.                        | CUSIP: 302941109<br>LEI: 549300K17GM8EQD0FQ48 | Short            | EC               | CORP              | US        |    -44985 | NS      | $-7454464.35  | -0.85%            |  |  |  | No            |                  1 | On Loan: No      |
| Impinj Inc                               | Impinj, Inc.                                | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Short            | EC               | CORP              | US        |    -27900 | NS      | $-2232837.00  | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| PROS Holdings Inc                        | PROS Holdings, Inc.                         | CUSIP: 74346Y103<br>LEI: 549300LPE1KNL5RWKQ48 | Short            | EC               | CORP              | US        |    -54000 | NS      | $-1333800.00  | -0.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Twitter Inc                              | Twitter, Inc.                               | CUSIP: 90184L102<br>LEI: 549300I8RX485XMK6836 | Short            | EC               | CORP              | US        |    -10600 | NS      | $-464704.00   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| IMPINJ INC                               | Impinj, Inc.                                | CUSIP: 453204AC3<br>LEI: 549300M26VGKSMMWWN17 | Long             | DBT              | CORP              | US        |   4570000 | PA      | $4525529.19   | 0.52%             | 2027-05-15      | Fixed         | 1.12%                 | Yes           |                  2 | On Loan: No      |
| INFINERA CORP                            | Infinera Corp.                              | CUSIP: 45667GAE3<br>LEI: 549300ZOF66WPV3H0H17 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9172166.60   | 1.04%             | 2027-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Lucid Group Inc                          | Lucid Group, Inc.                           | CUSIP: 549498103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -50938 | NS      | $-711603.86   | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| TECHTARGET INC                           | TechTarget, Inc.                            | CUSIP: 87874RAC4<br>LEI: 529900YQA5JL2H2VMB84 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $5831198.78   | 0.66%             | 2026-12-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Bentley Systems Inc                      | Bentley Systems, Inc.                       | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Short            | EC               | CORP              | US        |    -40585 | NS      | $-1241495.15  | -0.14%            |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals Inc              | Alnylam Pharmaceuticals, Inc.               | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Short            | EC               | CORP              | US        |     -2400 | NS      | $-480384.00   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| CryoPort Inc                             | CryoPort, Inc.                              | CUSIP: 229050307<br>LEI: 9845004D8538BT8JF626 | Short            | EC               | CORP              | US        |    -22124 | NS      | $-538940.64   | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| InterDigital Inc                         | InterDigital, Inc.                          | CUSIP: 45867G101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -30497 | NS      | $-1232688.74  | -0.14%            |  |  |  | No            |                  1 | On Loan: No      |
| Virgin Galactic Holdings Inc             | Virgin Galactic Holdings, Inc.              | CUSIP: 92766K106<br>LEI: 549300C631IMXCSMN048 | Short            | EC               | CORP              | US        |   -347130 | NS      | $-1634982.30  | -0.19%            |  |  |  | No            |                  1 | On Loan: No      |
| VERITONE INC                             | Veritone, Inc.                              | CUSIP: 92347MAA8<br>LEI: 549300XTAS2FCSL4EL89 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $3919500.00   | 0.45%             | 2026-11-15      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| Harmonic Inc                             | Harmonic, Inc.                              | CUSIP: 413160102<br>LEI: 549300LRGRD8XC9BTL66 | Short            | EC               | CORP              | US        |   -199596 | NS      | $-2608719.72  | -0.30%            |  |  |  | No            |                  1 | On Loan: No      |
| CRACKER BARREL OLD COUNT                 | Cracker Barrel Old Country Store, Inc.      | CUSIP: 22410JAB2<br>LEI: 8P4PHQIUWPIECBFBW745 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $8343000.00   | 0.95%             | 2026-06-15      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| JAZZ INVESTMENTS I LTD                   | Jazz Investments I, Ltd.                    | CUSIP: 472145AF8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   5500000 | PA      | $5912500.00   | 0.67%             | 2026-06-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| American Eagle Outfitters Inc            | American Eagle Outfitters, Inc.             | CUSIP: 02553E106<br>LEI: 5299001Z9HXK01DHW793 | Short            | EC               | CORP              | US        |   -206000 | NS      | $-2004380.00  | -0.23%            |  |  |  | No            |                  1 | On Loan: No      |
| 1LIFE HEALTHCARE INC                     | 1Life Healthcare, Inc.                      | CUSIP: 68269GAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5835000.00   | 0.66%             | 2025-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Accuray Inc                              | Accuray, Inc.                               | CUSIP: 004397105<br>LEI: 549300G28LY4TZKZJG51 | Short            | EC               | CORP              | US        |   -614432 | NS      | $-1278018.56  | -0.15%            |  |  |  | No            |                  1 | On Loan: No      |
| GREEN PLAINS INC                         | Green Plains, Inc.                          | CUSIP: 393222AK0<br>LEI: VJ5WLTHARBSDR14KIZ98 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5767500.00   | 0.66%             | 2027-03-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Evolent Health Inc                       | Evolent Health, Inc.                        | CUSIP: 30050B101<br>LEI: 549300CZOCFHQ2BBTR11 | Short            | EC               | CORP              | US        |   -152804 | NS      | $-5490247.72  | -0.63%            |  |  |  | No            |                  1 | On Loan: No      |
| ACCURAY INC                              | Accuray, Inc.                               | CUSIP: 004397AK1<br>LEI: 549300G28LY4TZKZJG51 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $6691398.08   | 0.76%             | 2026-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MannKind Corp                            | MannKind Corp.                              | CUSIP: 56400P706<br>LEI: 213800GFBCNY1ZFST722 | Short            | EC               | CORP              | US        |   -946000 | NS      | $-2923140.00  | -0.33%            |  |  |  | No            |                  1 | On Loan: No      |
| GOSSAMER BIO INC                         | Gossamer Bio, Inc.                          | CUSIP: 38341PAA0<br>LEI: 549300ZOC0N2W6PSFR58 | Long             | DBT              | CORP              | US        |   3150000 | PA      | $3252369.87   | 0.37%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REDFIN CORP                              | Redfin Corp.                                | CUSIP: 75737FAE8<br>LEI: 549300HXWD3JEMZU3O57 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $984148.50    | 0.11%             | 2027-04-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| MGP INGREDIENTS INC                      | MGP Ingredients, Inc.                       | CUSIP: 55303JAA4<br>LEI: 2549006OMHFVZ4MS8538 | Long             | DBT              | CORP              | US        |  10121000 | PA      | $12638798.64  | 1.44%             | 2041-11-15      | Fixed         | 1.88%                 | Yes           |                  2 | On Loan: No      |
| PALO ALTO NETWORKS                       | Palo Alto Networks, Inc.                    | CUSIP: 697435AF2<br>LEI: 549300QXR2YVZV231H43 | Long             | DBT              | CORP              | US        |   5100000 | PA      | $8644500.00   | 0.98%             | 2025-06-01      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| Bridgebio Pharma Inc                     | Bridgebio Pharma, Inc.                      | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Short            | EC               | CORP              | US        |    -40800 | NS      | $-405552.00   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| HALOZYME THERAPEUTICS IN                 | Halozyme Therapeutics, Inc.                 | CUSIP: 40637HAE9<br>LEI: 529900242I3SV9AGM753 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7040625.00   | 0.80%             | 2028-08-15      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| Q2 Holdings Inc                          | Q2 Holdings, Inc.                           | CUSIP: 74736L109<br>LEI: 549300M9RKR9DZXWS696 | Short            | EC               | CORP              | US        |    -41439 | NS      | $-1334335.80  | -0.15%            |  |  |  | No            |                  1 | On Loan: No      |
| GUIDEWIRE SOFTWARE INC                   | Guidewire Software, Inc.                    | CUSIP: 40171VAA8<br>LEI: 549300WXSG0J8IXZCK32 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $4961000.00   | 0.56%             | 2025-03-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| XOMETRY INC                              | Xometry, Inc.                               | CUSIP: 98423FAA7<br>LEI: 5493006JFRGU7YRRXE44 | Long             | DBT              | CORP              | US        |   8500000 | PA      | $10114150.00  | 1.15%             | 2027-02-01      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| Enphase Energy Inc                       | Enphase Energy, Inc.                        | CUSIP: 29355A107<br>LEI: 5493008U7KIGMI59Z314 | Short            | EC               | CORP              | US        |    -19301 | NS      | $-5355448.47  | -0.61%            |  |  |  | No            |                  1 | On Loan: No      |
| Envestnet Inc                            | Envestnet, Inc.                             | CUSIP: 29404K106<br>LEI: 549300HLWZ5OKIDM8737 | Short            | EC               | CORP              | US        |    -14500 | NS      | $-643800.00   | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Insmed Inc                               | Insmed, Inc.                                | CUSIP: 457669307<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -138100 | NS      | $-2974674.00  | -0.34%            |  |  |  | No            |                  1 | On Loan: No      |
| Kaman Corp                               | Kaman Corp.                                 | CUSIP: 483548103<br>LEI: 5493003YK076OLTEQF95 | Short            | EC               | CORP              | US        |     -4000 | NS      | $-111720.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Upwork Inc                               | Upwork, Inc.                                | CUSIP: 91688F104<br>LEI: 5493004QJ6WWBXVE2S70 | Short            | EC               | CORP              | US        |    -27335 | NS      | $-372302.70   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| SPIRIT AIRLINES INC                      | Spirit Airlines, Inc.                       | CUSIP: 848577AA0<br>LEI: 549300DCAFIXFNFR3304 | Long             | DBT              | CORP              | US        |    500000 | PA      | $871900.00    | 0.10%             | 2025-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Altair Engineering Inc                   | Altair Engineering, Inc.                    | CUSIP: 021369103<br>LEI: 549300FJ89HZ6GU9S994 | Short            | EC               | CORP              | US        |    -62400 | NS      | $-2759328.00  | -0.31%            |  |  |  | No            |                  1 | On Loan: No      |
| MESA LABORATORIES INC                    | Mesa Laboratories, Inc.                     | CUSIP: 59064RAA7<br>LEI: 549300ZCG738WLX8ZW79 | Long             | DBT              | CORP              | US        |   9982000 | PA      | $8334953.33   | 0.95%             | 2025-08-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Oil States International Inc             | Oil States International, Inc.              | CUSIP: 678026105<br>LEI: 5493004TF4KQJGMYL777 | Short            | EC               | CORP              | US        |   -459770 | NS      | $-1788505.30  | -0.20%            |  |  |  | No            |                  1 | On Loan: No      |
| MicroStrategy Inc                        | MicroStrategy, Inc.                         | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Short            | EC               | CORP              | US        |      -515 | NS      | $-109313.90   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Xometry Inc                              | Xometry, Inc.                               | CUSIP: 98423F109<br>LEI: 5493006JFRGU7YRRXE44 | Short            | EC               | CORP              | US        |   -116178 | NS      | $-6597748.62  | -0.75%            |  |  |  | No            |                  1 | On Loan: No      |
| Ascendis Pharma A/S                      | Ascendis Pharma A/S                         | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Short            | EC               | CORP              | DK        |    -18500 | NS      | $-1910310.00  | -0.22%            |  |  |  | No            |                  1 | On Loan: No      |
| ENVESTNET INC                            | Envestnet, Inc.                             | CUSIP: 29404KAE6<br>LEI: 549300HLWZ5OKIDM8737 | Long             | DBT              | CORP              | US        |   5855000 | PA      | $4925518.75   | 0.56%             | 2025-08-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| TOPGOLF CALL BRAN CORP                   | Topgolf Callaway Brands Corp.               | CUSIP: 131193AE4<br>LEI: 5493005UB0KFRKBPCU72 | Long             | DBT              | CORP              | US        |   2697000 | PA      | $3492615.00   | 0.40%             | 2026-05-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| STRIDE INC                               | Stride, Inc.                                | CUSIP: 86333MAA6<br>LEI: 254900BRWS3AFONWU277 | Long             | DBT              | CORP              | US        |   7715000 | PA      | $7865442.50   | 0.90%             | 2027-09-01      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Century Aluminum Co                      | Century Aluminum Co.                        | CUSIP: 156431108<br>LEI: 549300U5ODNGEYWKSW73 | Short            | EC               | CORP              | US        |   -147000 | NS      | $-776160.00   | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| GoPro Inc                                | GoPro, Inc.                                 | CUSIP: 38268T103<br>LEI: 549300CQJMLT21SZFL16 | Short            | EC               | CORP              | US        |   -341000 | NS      | $-1681130.00  | -0.19%            |  |  |  | No            |                  1 | On Loan: No      |
| SmileDirectClub Inc                      | SmileDirectClub, Inc.                       | CUSIP: 83192H106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -79795 | NS      | $-72246.39    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Wix.com Ltd                              | Wix.com, Ltd.                               | CUSIP: M98068105<br>LEI: 5493008P6N29Q1AG9464 | Short            | EC               | CORP              | IL        |     -1497 | NS      | $-117110.31   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Porch Group Inc                          | Porch Group, Inc.                           | CUSIP: 733245104<br>LEI: 549300NXEI7CVW8IXQ90 | Short            | EC               | CORP              | US        |   -106000 | NS      | $-238500.00   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Greenbrier Cos Inc/The                   | The Greenbrier Cos., Inc.                   | CUSIP: 393657101<br>LEI: 5493001GAGGFR30BP390 | Short            | EC               | CORP              | US        |   -101472 | NS      | $-2462725.44  | -0.28%            |  |  |  | No            |                  1 | On Loan: No      |
| EVENTBRITE INC                           | Eventbrite, Inc.                            | CUSIP: 29975EAB5<br>LEI: 549300N6XBV2B1FAUF55 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1385625.00   | 0.16%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Redfin Corp                              | Redfin Corp.                                | CUSIP: 75737F108<br>LEI: 549300HXWD3JEMZU3O57 | Short            | EC               | CORP              | US        |    -20900 | NS      | $-122056.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| BRIDGEBIO PHARMA INC                     | Bridgebio Pharma, Inc.                      | CUSIP: 10806XAB8<br>LEI: 54930028YG89VTY2J114 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $598800.00    | 0.07%             | 2027-03-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Camtek Ltd/Israel                        | Camtek, Ltd./Israel                         | CUSIP: M20791105<br>LEI: N/A                  | Short            | EC               | CORP              | IL        |    -38497 | NS      | $-891975.49   | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| HARMONIC INC                             | Harmonic, Inc.                              | CUSIP: 413160AD4<br>LEI: 549300LRGRD8XC9BTL66 | Long             | DBT              | CORP              | US        |   2750000 | PA      | $4358085.99   | 0.50%             | 2024-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CONMED Corp                              | CONMED Corp.                                | CUSIP: 207410101<br>LEI: Z6C0YCECH9DCU5ZIQW84 | Short            | EC               | CORP              | US        |    -58695 | NS      | $-4705578.15  | -0.54%            |  |  |  | No            |                  1 | On Loan: No      |
| PERFICIENT INC                           | Perficient, Inc.                            | CUSIP: 71375UAE1<br>LEI: 549300HTBXKL2755T650 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $6705000.00   | 0.76%             | 2026-11-15      | Fixed         | 0.12%                 | Yes           |                  2 | On Loan: No      |
| SILICON LABORATORIES INC                 | Silicon Laboratories, Inc.                  | CUSIP: 826919AD4<br>LEI: 4PRDF8Q9TDHRVZKZSZ47 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $7727200.00   | 0.88%             | 2025-06-15      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| PETIQ INC                                | PetIQ, Inc.                                 | CUSIP: 71639TAB2<br>LEI: 549300GROACFGKVYOX14 | Long             | DBT              | CORP              | US        |   7826000 | PA      | $6425146.00   | 0.73%             | 2026-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DigitalOcean Holdings Inc                | DigitalOcean Holdings, Inc.                 | CUSIP: 25402D102<br>LEI: 549300EPISPY3RE3DL21 | Short            | EC               | CORP              | US        |    -12814 | NS      | $-463482.38   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Cracker Barrel Old Country Sto           | Cracker Barrel Old Country Store, Inc.      | CUSIP: 22410J106<br>LEI: 8P4PHQIUWPIECBFBW745 | Short            | EC               | CORP              | US        |    -24895 | NS      | $-2304779.10  | -0.26%            |  |  |  | No            |                  1 | On Loan: No      |
| SSR Mining Inc                           | SSR Mining, Inc.                            | CUSIP: 784730103<br>LEI: 549300JD2KR7AB9DYJ38 | Short            | EC               | CORP              | CA        |   -250000 | NS      | $-3677500.00  | -0.42%            |  |  |  | No            |                  1 | On Loan: No      |
| UNITY SOFTWARE INC                       | Unity Software, Inc.                        | CUSIP: 91332UAA9<br>LEI: 549300D1ESJMGNQNG432 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $3643750.00   | 0.41%             | 2026-11-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| TWITTER INC                              | Twitter, Inc.                               | CUSIP: 90184LAN2<br>LEI: 549300I8RX485XMK6836 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5522545.20   | 0.63%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CLOUDFLARE INC                           | Cloudflare, Inc.                            | CUSIP: 18915MAC1<br>LEI: 5493007DY18BGNLDWU14 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $4692000.00   | 0.53%             | 2026-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LIVEPERSON INC                           | LivePerson, Inc.                            | CUSIP: 538146AD3<br>LEI: 549300IN2P1JZ20G7N40 | Long             | DBT              | CORP              | US        |   5797000 | PA      | $3961343.60   | 0.45%             | 2026-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Assertio Holdings Inc                    | Assertio Holdings, Inc.                     | CUSIP: 04546C205<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -273913 | NS      | $-621782.51   | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| INSMED INC                               | Insmed, Inc.                                | CUSIP: 457669AB5<br>LEI: 529900Q55QAG41CCAC11 | Long             | DBT              | CORP              | US        |   6380000 | PA      | $5847270.00   | 0.67%             | 2028-06-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| MAGNITE INC                              | Magnite, Inc.                               | CUSIP: 55955DAB6<br>LEI: 54930018FR2YX1HHSB02 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $4907500.00   | 0.56%             | 2026-03-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Luminar Technologies Inc                 | Luminar Technologies, Inc.                  | CUSIP: 550424105<br>LEI: 549300AVGXLDWYMI4298 | Short            | EC               | CORP              | US        |   -259866 | NS      | $-1893123.81  | -0.22%            |  |  |  | No            |                  1 | On Loan: No      |
| Chegg Inc                                | Chegg, Inc.                                 | CUSIP: 163092109<br>LEI: 549300AKX7O8JG0O3G77 | Short            | EC               | CORP              | US        |    -12794 | NS      | $-269569.58   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| SMART GLOBAL HOLDINGS IN                 | SMART Global Holdings, Inc.                 | CUSIP: 83205YAB0<br>LEI: 529900RDGHQY8XKXPN14 | Long             | DBT              | CORP              | KY        |   8000000 | PA      | $8256000.00   | 0.94%             | 2026-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| KAMAN CORP                               | Kaman Corp.                                 | CUSIP: 483548AF0<br>LEI: 5493003YK076OLTEQF95 | Long             | DBT              | CORP              | US        |   2608000 | PA      | $2460648.00   | 0.28%             | 2024-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Guidewire Software Inc                   | Guidewire Software, Inc.                    | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Short            | EC               | CORP              | US        |    -18973 | NS      | $-1168357.34  | -0.13%            |  |  |  | No            |                  1 | On Loan: No      |
| IRONWOOD PHARMACEUTICALS                 | Ironwood Pharmaceuticals, Inc.              | CUSIP: 46333XAF5<br>LEI: 549300PC8MR6QHH6P296 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3532812.50   | 0.40%             | 2024-06-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| FASTLY INC                               | Fastly, Inc.                                | CUSIP: 31188VAB6<br>LEI: 549300E2FZC83FJ3H565 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $5824000.00   | 0.66%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fisker Inc                               | Fisker, Inc.                                | CUSIP: 33813J106<br>LEI: 549300UUN5RWU44MBX79 | Short            | EC               | CORP              | US        |   -169547 | NS      | $-1280079.85  | -0.15%            |  |  |  | No            |                  1 | On Loan: No      |
| SSR MINING INC                           | SSR Mining, Inc.                            | CUSIP: 784730AB9<br>LEI: 549300JD2KR7AB9DYJ38 | Long             | DBT              | CORP              | CA        |   7134000 | PA      | $7808163.00   | 0.89%             | 2039-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| JOHN BEAN TECHNOLOGIES C                 | John Bean Technologies Corp.                | CUSIP: 477839AB0<br>LEI: 5493007CT6ATBZ2L6826 | Long             | DBT              | CORP              | US        |   6943000 | PA      | $5776576.00   | 0.66%             | 2026-05-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Tabula Rasa HealthCare Inc               | Tabula Rasa HealthCare, Inc.                | CUSIP: 873379101<br>LEI: 549300K6KY242XRMEF28 | Short            | EC               | CORP              | US        |    -13390 | NS      | $-64272.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN AIRLINES GROUP                  | American Airlines Group, Inc.               | CUSIP: 02376RAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6245000 | PA      | $6329307.50   | 0.72%             | 2025-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MANNKIND CORP                            | MannKind Corp.                              | CUSIP: 56400PAQ5<br>LEI: 213800GFBCNY1ZFST722 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7248000.00   | 0.83%             | 2026-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                      | NCL Corp., Ltd.                             | CUSIP: 62886HBJ9<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   1250000 | PA      | $821875.00    | 0.09%             | 2027-02-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Norwegian Cruise Line Holdings           | Norwegian Cruise Line Holdings, Ltd.        | CUSIP: G66721104<br>LEI: N/A                  | Short            | EC               | CORP              | BM        |   -110200 | NS      | $-1251872.00  | -0.14%            |  |  |  | No            |                  1 | On Loan: No      |
| CONFLUENT INC                            | Confluent, Inc.                             | CUSIP: 20717MAA1<br>LEI: 254900MRZ83YWUV7SN74 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $3600000.00   | 0.41%             | 2027-01-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Veritone Inc                             | Veritone, Inc.                              | CUSIP: 92347M100<br>LEI: 549300XTAS2FCSL4EL89 | Short            | EC               | CORP              | US        |    -81656 | NS      | $-459723.28   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Artivion Inc                             | Artivion, Inc.                              | CUSIP: 228903100<br>LEI: 549300YTKV8DMSMG6K81 | Short            | EC               | CORP              | US        |   -242500 | NS      | $-3356200.00  | -0.38%            |  |  |  | No            |                  1 | On Loan: No      |
| DROPBOX INC                              | Dropbox, Inc.                               | CUSIP: 26210CAC8<br>LEI: 549300JCDF7UAR6TJR51 | Long             | DBT              | CORP              | US        |   9250000 | PA      | $8089125.00   | 0.92%             | 2026-03-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EXACT SCIENCES CORP                      | Exact Sciences Corp.                        | CUSIP: 30063PAB1<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | DBT              | CORP              | US        |   3095000 | PA      | $2156753.97   | 0.25%             | 2027-03-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| 2U Inc                                   | 2U, Inc.                                    | CUSIP: 90214J101<br>LEI: 5493008RVTXVR43PYF84 | Short            | EC               | CORP              | US        |    -46927 | NS      | $-293293.75   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| LUCID GROUP INC                          | Lucid Group, Inc.                           | CUSIP: 549498AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $3050000.00   | 0.35%             | 2026-12-15      | Fixed         | 1.25%                 | Yes           |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                  | Royal Caribbean Cruises, Ltd.               | CUSIP: 780153BF8<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   1000000 | PA      | $939500.00    | 0.11%             | 2023-11-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Alteryx Inc                              | Alteryx, Inc.                               | CUSIP: 02156B103<br>LEI: 549300XWZG0JHL7I0827 | Short            | EC               | CORP              | US        |     -8213 | NS      | $-458613.92   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-01

**Name of Applicant:** Forum Funds

**Signature:** /s/ Karen Shaw

**Name of Signer:** Karen Shaw

**Title:** Treasurer