# EDGAR Filing Document

**Accession Number:** 0001585855
**File Stem:** 0000940400-25-012018
**Filing Date:** 2025-11
**Character Count:** 94669
**Document Hash:** c76799d9d04e56c7cd907d6485584dcf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-012018.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0000940400-25-012018

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251128

**DATE AS OF CHANGE**: 20251128

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Gabelli Global Small & Mid Cap Value Trust
- **CENTRAL INDEX KEY:** 0001585855

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22884
- **FILM NUMBER:** 251535967

**BUSINESS ADDRESS:**
- **STREET 1:** ONE CORPORATE CENTER
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580
- **BUSINESS PHONE:** 914-921-5100

**MAIL ADDRESS:**
- **STREET 1:** ONE CORPORATE CENTER
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Gabelli Global Small & Mid Cap Value Trust

- **b. Investment Company Act file number:** 811-22884

- **c. CIK number of Registrant:** 0001585855

- **d. LEI of Registrant:** 54930027RS7HE8UD3187

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

  - **Street Address 1:** One Corporate Center

  - **City:** Rye

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10580-1422

  - **Telephone number:** 1-800-422-3554

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

- **a. Name of Series:** Gabelli Global Small & Mid Cap Value Trust

- **c. LEI of Series:** 54930027RS7HE8UD3187

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $169917885.32

**Total Liabilities:** $40415886.07

**Net Assets:** $129501999.25

**Cash Not Reported:** $1445051.29

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000000 | 2.03%                | 5.89%                | 1.50%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $230989.58               | $46374.26                                  |
| Month 2  | $-138943.99              | $5819413.26                                |
| Month 3  | $1053050.96              | $-677923.64                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Bausch Health Cos Inc          | Bausch Health Cos Inc                        | CUSIP: 071734107<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | EC               | CORP              | CA        |     29000 | NS      | $187050.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Twin Disc Inc                  | Twin Disc Inc                                | CUSIP: 901476101<br>LEI: 549300FR8EHCY14BLP32 | Long             | EC               | CORP              | US        |     13000 | NS      | $181220.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| AAR Corp                       | AAR Corp                                     | CUSIP: 000361105<br>LEI: MP76T5YQX3YK5VVAQ802 | Long             | EC               | CORP              | US        |     13000 | NS      | $1165710.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Full House Resorts Inc         | Full House Resorts Inc                       | CUSIP: 359678109<br>LEI: 5493009DKIWW0H901Y82 | Long             | EC               | CORP              | US        |     26000 | NS      | $83460.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Advance Auto Parts Inc         | Advance Auto Parts Inc                       | CUSIP: 00751Y106<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | EC               | CORP              | US        |       600 | NS      | $36840.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferrari NV                     | Ferrari NV                                   | CUSIP: 000000000<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | IT        |      4100 | NS      | $1989402.00   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashtead Group PLC              | Ashtead Group PLC                            | CUSIP: 000000000<br>LEI: 2138007UTBN8X9K1A235 | Long             | EC               | CORP              | GB        |     11500 | NS      | $767904.28    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Broadband Corp         | Liberty Broadband Corp                       | CUSIP: 530307305<br>LEI: 549300MIX43II8JLN536 | Long             | EC               | CORP              | US        |       103 | NS      | $6544.62      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Water Products Inc     | Mueller Water Products Inc                   | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |     16000 | NS      | $408320.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Havas NV                       | Havas NV                                     | CUSIP: 000000000<br>LEI: 894500L53AVOFQK7T710 | Long             | EC               | CORP              | FR        |    175000 | NS      | $321645.67    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ATI Inc                        | ATI Inc                                      | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |      1500 | NS      | $122010.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill                  | CUSIP: 912797SG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6000000 | PA      | $5929376.22   | 4.58%             | 2026-01-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TOMRA Systems ASA              | TOMRA Systems ASA                            | CUSIP: 000000000<br>LEI: 549300J726JCFJU3VT89 | Long             | EC               | CORP              | NO        |     20000 | NS      | $298610.66    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Rad Laboratories Inc       | Bio-Rad Laboratories Inc                     | CUSIP: 090572108<br>LEI: 549300ZC1GPV35XYDK53 | Long             | EC               | CORP              | US        |       150 | NS      | $45215.25     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Sulzer AG                      | Sulzer AG                                    | CUSIP: 000000000<br>LEI: 529900NZ6MAST5IJF669 | Long             | EC               | CORP              | CH        |      8200 | NS      | $1388556.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Stroeer SE & Co KGaA           | Stroeer SE & Co KGaA                         | CUSIP: 000000000<br>LEI: 529900MBF3N1ATE55378 | Long             | EC               | CORP              | DE        |      4000 | NS      | $177985.98    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Simply Good Foods Co/The       | Simply Good Foods Co/The                     | CUSIP: 82900L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3000 | NS      | $74460.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Technical Institute  | Universal Technical Institute Inc            | CUSIP: 913915104<br>LEI: 2549003YOJGAZ0PVFV48 | Long             | EC               | CORP              | US        |     12700 | NS      | $413385.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Matthews International Corp    | Matthews International Corp                  | CUSIP: 577128101<br>LEI: 549300ZVC5O0ATML6U61 | Long             | EC               | CORP              | US        |      3000 | NS      | $72840.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| COMM SYS/PINEAPPLE HLDGS CVR   | COMM SYS/PINEAPPLE HLDGS CVR                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13750 | NS      | $825.00       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MGM Resorts International      | MGM Resorts International                    | CUSIP: 552953101<br>LEI: 54930066VBP7DZEGGJ87 | Long             | EC               | CORP              | US        |      9000 | NS      | $311940.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| John B Sanfilippo & Son Inc    | John B Sanfilippo & Son Inc                  | CUSIP: 800422107<br>LEI: 5299007IBEYVXKYDUX28 | Long             | EC               | CORP              | US        |       500 | NS      | $32140.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomad Foods Ltd                | Nomad Foods Ltd                              | CUSIP: 000000000<br>LEI: 5493000ZZ1837DS2SI43 | Long             | EC               | CORP              | GB        |     15000 | NS      | $197250.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Primo Brands Corp              | Primo Brands Corp                            | CUSIP: 741623102<br>LEI: 254900J0WS4AXV2LAX55 | Long             | EC               | CORP              | US        |      8700 | NS      | $192270.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Corby Spirit and Wine Ltd      | Corby Spirit and Wine Ltd                    | CUSIP: 218349108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      3000 | NS      | $30286.70     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GCI Liberty Inc                | GCI Liberty Inc                              | CUSIP: 36164V602<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       100 | NS      | $3755.50      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Consolidated Water Co Ltd      | Consolidated Water Co Ltd                    | CUSIP: 000000000<br>LEI: 5299001BMEW8X9VIJA73 | Long             | EC               | CORP              | KY        |      1500 | NS      | $52920.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| HK&S HOTELS                    | Hongkong & Shanghai Hotels Ltd/The           | CUSIP: 000000000<br>LEI: 5299001258RHH99P1A15 | Long             | EC               | CORP              | HK        |    250000 | NS      | $187613.64    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp            | Curtiss-Wright Corp                          | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |      1000 | NS      | $542940.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Caesars Entertainment Inc      | Caesars Entertainment Inc                    | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Long             | EC               | CORP              | US        |      5000 | NS      | $135125.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Array Digital Infrastructure I | Array Digital Infrastructure Inc             | CUSIP: 911684108<br>LEI: 549300B164AZXESI6E03 | Long             | EC               | CORP              | US        |     11000 | NS      | $550110.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Interpump Group SpA            | Interpump Group SpA                          | CUSIP: 000000000<br>LEI: 815600C79D0F31F4D395 | Long             | EC               | CORP              | IT        |     17000 | NS      | $777995.97    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Ollamani SAB                   | Ollamani SAB                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |    113750 | NS      | $340998.44    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| PrairieSky Royalty Ltd         | PrairieSky Royalty Ltd                       | CUSIP: 739721108<br>LEI: 529900AXG582AP7CV733 | Long             | EC               | CORP              | CA        |     10000 | NS      | $185528.49    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Cogeco Communications Inc      | Cogeco Communications Inc                    | CUSIP: 19239C106<br>LEI: 549300XHH6LJM6IAXV57 | Long             | EC               | CORP              | CA        |      1800 | NS      | $82724.73     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Avantor Inc                    | Avantor Inc                                  | CUSIP: 05352A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18237 | NS      | $227597.76    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Sphere Entertainment Co        | Sphere Entertainment Co                      | CUSIP: 55826T102<br>LEI: 254900ZW4JWKYRZZ9A91 | Long             | EC               | CORP              | US        |      7500 | NS      | $465900.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| DENTSPLY SIRONA Inc            | DENTSPLY SIRONA Inc                          | CUSIP: 24906P109<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Long             | EC               | CORP              | US        |     14000 | NS      | $177660.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Controls International | Johnson Controls International plc           | CUSIP: 000000000<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | US        |      6000 | NS      | $659700.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies Inc      | L3Harris Technologies Inc                    | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |      1000 | NS      | $305410.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Entain PLC                     | Entain PLC                                   | CUSIP: 000000000<br>LEI: 213800GNI3K45LQR8L28 | Long             | EC               | CORP              | GB        |    227000 | NS      | $2667644.12   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Synovus Financial Corp         | Synovus Financial Corp                       | CUSIP: 87161C501<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EC               | CORP              | US        |     21000 | NS      | $1030680.00   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Camping World Holdings Inc     | Camping World Holdings Inc                   | CUSIP: 13462K109<br>LEI: 549300E828QQI7MWI432 | Long             | EC               | CORP              | US        |      3900 | NS      | $61581.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Energizer Holdings Inc         | Energizer Holdings Inc                       | CUSIP: 29272W109<br>LEI: 5493000D6NN0V57UME20 | Long             | EC               | CORP              | US        |     35000 | NS      | $871150.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill                  | CUSIP: 912797RD1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6000000 | PA      | $5986537.50   | 4.62%             | 2025-10-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Surmodics Inc                  | Surmodics Inc                                | CUSIP: 868873100<br>LEI: 549300H76KXCAAGUS878 | Long             | EC               | CORP              | US        |      6500 | NS      | $194285.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Infrastructure Inc        | FTAI Infrastructure Inc                      | CUSIP: 35953C106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17000 | NS      | $74120.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| FinecoBank Banca Fineco SpA    | FinecoBank Banca Fineco SpA                  | CUSIP: 000000000<br>LEI: 549300L7YCATGO57ZE10 | Long             | EC               | CORP              | IT        |     51000 | NS      | $1102027.90   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlanta Braves Holdings Inc    | Atlanta Braves Holdings Inc                  | CUSIP: 047726104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30000 | NS      | $1364100.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Starwood Property Trust Inc    | Starwood Property Trust Inc                  | CUSIP: 85571B105<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | EC               | CORP              | US        |     20000 | NS      | $387400.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Partners Holdings LP     | Steel Partners Holdings LP                   | CUSIP: 85814R107<br>LEI: 5493009U8Z59G5SIZ389 | Long             | EC               | CORP              | US        |     22000 | NS      | $929720.00    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill                  | CUSIP: 912797NU7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6915000 | PA      | $6851401.22   | 5.29%             | 2025-12-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Novonesis Novozymes B          | Novonesis Novozymes B                        | CUSIP: 000000000<br>LEI: 529900T6WNZXD2R3JW38 | Long             | EC               | CORP              | DK        |      2500 | NS      | $152995.02    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| T Hasegawa Co Ltd              | T Hasegawa Co Ltd                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      6000 | NS      | $118267.57    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| BOYD GROUP INC                 | BOYD GROUP INC                               | CUSIP: 103310108<br>LEI: 549300FVHMLW88VSTP09 | Long             | EC               | CORP              | CA        |       500 | NS      | $84328.52     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Park-Ohio Holdings Corp        | Park-Ohio Holdings Corp                      | CUSIP: 700666100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1000 | NS      | $21240.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Telekom Austria AG             | Telekom Austria AG                           | CUSIP: 000000000<br>LEI: 529900KCNFQU5OJH7L33 | Long             | EC               | CORP              | AT        |     33000 | NS      | $352567.22    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Snap-on Inc                    | Snap-on Inc                                  | CUSIP: 833034101<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | EC               | CORP              | US        |       500 | NS      | $173265.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PROG Holdings Inc              | PROG Holdings Inc                            | CUSIP: 74319R101<br>LEI: 549300DHYTLBOVRXIG52 | Long             | EC               | CORP              | US        |      1800 | NS      | $58248.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortis Inc/Canada              | Fortis Inc/Canada                            | CUSIP: 349553107<br>LEI: 549300MQYQ9Y065XPR71 | Long             | EC               | CORP              | CA        |      6000 | NS      | $304332.83    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Shiseido Co Ltd                | Shiseido Co Ltd                              | CUSIP: 000000000<br>LEI: 5299008QCD0YDT5OF506 | Long             | EC               | CORP              | JP        |      6000 | NS      | $102525.61    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Cavco Industries Inc           | Cavco Industries Inc                         | CUSIP: 149568107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1700 | NS      | $987241.00    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ ENT WATER                   | Beijing Enterprises Water Group Ltd          | CUSIP: 000000000<br>LEI: 529900TWUN2ALJKWRR11 | Long             | EC               | CORP              | HK        |     70000 | NS      | $21498.47     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NeoGenomics Inc                | NeoGenomics Inc                              | CUSIP: 64049M209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15000 | NS      | $115800.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Rolls-Royce Holdings PLC       | Rolls-Royce Holdings PLC                     | CUSIP: 000000000<br>LEI: 213800EC7997ZBLZJH69 | Long             | EC               | CORP              | GB        |    290000 | NS      | $4641249.90   | 3.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp-Liberty Liv | Liberty Media Corp-Liberty Live              | CUSIP: 531229748<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       500 | NS      | $47150.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Treatt PLC                     | Treatt PLC                                   | CUSIP: 000000000<br>LEI: 213800G4OJM9F7G9LG39 | Long             | EC               | CORP              | GB        |     12700 | NS      | $45860.42     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Ito En Ltd                     | Ito En Ltd                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     39000 | NS      | $918003.85    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Signal Corp            | Federal Signal Corp                          | CUSIP: 313855108<br>LEI: 549300RTXZRPTNP6G884 | Long             | EC               | CORP              | US        |      1200 | NS      | $142788.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp                | Sony Group Corp                              | CUSIP: 835699307<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |    178000 | NS      | $5124620.00   | 3.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgebio Pharma Inc           | Bridgebio Pharma Inc                         | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |      8000 | NS      | $415520.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Bollore SE                     | Bollore SE                                   | CUSIP: 000000000<br>LEI: 969500LEKCHH6VV86P94 | Long             | EC               | CORP              | FR        |     64000 | NS      | $361870.39    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Global Ltd             | Liberty Global Ltd                           | CUSIP: 000000000<br>LEI: 213800HRMKKTYH7SKA24 | Long             | EC               | CORP              | GB        |     48000 | NS      | $550080.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Marine Products Corp           | Marine Products Corp                         | CUSIP: 568427108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11500 | NS      | $102005.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Trinity Industries Inc         | Trinity Industries Inc                       | CUSIP: 896522109<br>LEI: R1JB4KXN77XFCXOQKV49 | Long             | EC               | CORP              | US        |     11400 | NS      | $319656.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| SGL Carbon SE                  | SGL Carbon SE                                | CUSIP: 000000000<br>LEI: 52990038IB31TYK07X63 | Long             | EC               | CORP              | DE        |     14000 | NS      | $51775.61     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Credit Acceptance Corp         | Credit Acceptance Corp                       | CUSIP: 225310101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       400 | NS      | $186772.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Donnelley Financial Solutions  | Donnelley Financial Solutions Inc            | CUSIP: 25787G100<br>LEI: 549300O1NPY4J56QCU04 | Long             | EC               | CORP              | US        |      3000 | NS      | $154290.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Traton SE                      | Traton SE                                    | CUSIP: 000000000<br>LEI: 529900UIMQRKPFN6SV80 | Long             | EC               | CORP              | DE        |     23000 | NS      | $736645.93    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| InfuSystem Holdings Inc        | InfuSystem Holdings Inc                      | CUSIP: 45685K102<br>LEI: 549300F58N8PHJ4QUI59 | Long             | EC               | CORP              | US        |     12000 | NS      | $124320.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Algonquin Power & Utilities Co | Algonquin Power & Utilities Corp             | CUSIP: 015857105<br>LEI: 549300K5VIUTJXQL7X75 | Long             | EC               | CORP              | CA        |    150000 | NS      | $805500.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Art Retail Group Ltd       | Sun Art Retail Group Ltd                     | CUSIP: 000000000<br>LEI: 3003009IMRZ363PQCP28 | Long             | EC               | CORP              | CN        |    100000 | NS      | $24029.97     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Resideo Technologies Inc       | Resideo Technologies Inc                     | CUSIP: 76118Y104<br>LEI: 5493006TKFPYISY2DS54 | Long             | EC               | CORP              | US        |      8000 | NS      | $345440.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| SONY FINANCIAL GROUP INC       | SONY FINANCIAL GROUP INC                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35600 | NS      | $197224.00    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| BBB Foods Inc                  | BBB Foods Inc                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |      9000 | NS      | $242640.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Hellenic Telecommunications Or | Hellenic Telecommunications Organization SA  | CUSIP: 423325307<br>LEI: ELPUFM0XZRZO4LFXW404 | Long             | EC               | CORP              | GR        |      6000 | NS      | $57630.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Louis Hachette Group           | Louis Hachette Group                         | CUSIP: 000000000<br>LEI: 969500CV8XQ2XKU2DO25 | Long             | EC               | CORP              | FR        |     60000 | NS      | $108693.55    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Rentokil Initial PLC           | Rentokil Initial PLC                         | CUSIP: 760125104<br>LEI: 549300VN4WV7Z6T14K68 | Long             | EC               | CORP              | GB        |      4000 | NS      | $101000.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Holcim AG                      | Holcim AG                                    | CUSIP: 000000000<br>LEI: 529900EHPFPYHV6IQO98 | Long             | EC               | CORP              | CH        |      1000 | NS      | $84592.68     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TEGNA Inc                      | TEGNA Inc                                    | CUSIP: 87901J105<br>LEI: 549300YC5EDBGX85AO10 | Long             | EC               | CORP              | US        |     36000 | NS      | $731880.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Kikkoman Corp                  | Kikkoman Corp                                | CUSIP: 000000000<br>LEI: 529900T9K5UH9HXOND47 | Long             | EC               | CORP              | JP        |    175000 | NS      | $1485106.67   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Smiths Group PLC               | Smiths Group PLC                             | CUSIP: 000000000<br>LEI: 213800MJL6IPZS3ASA11 | Long             | EC               | CORP              | GB        |      3000 | NS      | $94896.14     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BellRing Brands Inc            | BellRing Brands Inc                          | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |      9000 | NS      | $327150.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Biglari Holdings Inc           | Biglari Holdings Inc                         | CUSIP: 08986R408<br>LEI: 549300GLWWSODF8TM682 | Long             | EC               | CORP              | US        |       490 | NS      | $757050.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Ducommun Inc                   | Ducommun Inc                                 | CUSIP: 264147109<br>LEI: 549300Z71HMWF90S2214 | Long             | EC               | CORP              | US        |     13200 | NS      | $1268916.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Telesat Corp                   | Telesat Corp                                 | CUSIP: 879512309<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     10000 | NS      | $265000.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Premier Foods PLC              | Premier Foods PLC                            | CUSIP: 000000000<br>LEI: 213800ZD5I8XHNMCJA67 | Long             | EC               | CORP              | GB        |    190000 | NS      | $490619.52    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Knife River Corp               | Knife River Corp                             | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3000 | NS      | $230610.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Element Solutions Inc          | Element Solutions Inc                        | CUSIP: 28618M106<br>LEI: 549300FLGN6P5CU20J91 | Long             | EC               | CORP              | US        |     50000 | NS      | $1258500.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Perrigo Co PLC                 | Perrigo Co PLC                               | CUSIP: 000000000<br>LEI: 549300IFOQS6R1QLY196 | Long             | EC               | CORP              | IE        |     29000 | NS      | $645830.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Amrize Ltd                     | Amrize Ltd                                   | CUSIP: 000000000<br>LEI: 529900SLCCO6K43P8146 | Long             | EC               | CORP              | CH        |      2000 | NS      | $96451.23     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Golden Entertainment Inc       | Golden Entertainment Inc                     | CUSIP: 381013101<br>LEI: 549300P8YYCKQVJ0Y638 | Long             | EC               | CORP              | US        |     16000 | NS      | $377280.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolent Health Inc             | Evolent Health Inc                           | CUSIP: 30050B101<br>LEI: 549300CZOCFHQ2BBTR11 | Long             | EC               | CORP              | US        |     22000 | NS      | $186120.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Resona Holdings Inc            | Resona Holdings Inc                          | CUSIP: 000000000<br>LEI: 52990067JE75XZCYYT81 | Long             | EC               | CORP              | JP        |     70000 | NS      | $714981.24    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Canal+ SA                      | Canal+ SA                                    | CUSIP: 000000000<br>LEI: 9695000537F9F73BXN18 | Long             | EC               | CORP              | FR        |    100000 | NS      | $329500.50    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Greif Inc                      | Greif Inc                                    | CUSIP: 397624107<br>LEI: 54930070FVGKR0Z1FI24 | Long             | EC               | CORP              | US        |     32700 | NS      | $1954152.00   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Scandinavian Tobacco Group A/S | Scandinavian Tobacco Group A/S               | CUSIP: 000000000<br>LEI: 5299003KG4JS99TRML67 | Long             | EC               | CORP              | DK        |     31500 | NS      | $434496.43    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Beasley Broadcast Group Inc    | Beasley Broadcast Group Inc                  | CUSIP: 074014200<br>LEI: 549300R5FEOSY86VTY76 | Long             | EC               | CORP              | US        |      4500 | NS      | $24300.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| IES Holdings Inc               | IES Holdings Inc                             | CUSIP: 44951W106<br>LEI: 549300687T8E6LN6EN72 | Long             | EC               | CORP              | US        |       400 | NS      | $159060.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Tredegar Corp                  | Tredegar Corp                                | CUSIP: 894650100<br>LEI: 54930003228ERHCH6K87 | Long             | EC               | CORP              | US        |     77295 | NS      | $620678.85    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovex International Inc      | Innovex International Inc                    | CUSIP: 457651107<br>LEI: 5299007REICYIJNMW197 | Long             | EC               | CORP              | US        |     37500 | NS      | $695250.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Cogeco Inc                     | Cogeco Inc                                   | CUSIP: 19238T100<br>LEI: 5493000KSZQCX0QM2V25 | Long             | EC               | CORP              | CA        |      6800 | NS      | $295463.10    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Cooper Cos Inc/The             | Cooper Cos Inc/The                           | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |      1600 | NS      | $109696.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| GATX Corp                      | GATX Corp                                    | CUSIP: 361448103<br>LEI: 549300IHYHCQP2PIR591 | Long             | EC               | CORP              | US        |     11000 | NS      | $1922800.00   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Maple Leaf Foods Inc           | Maple Leaf Foods Inc                         | CUSIP: 564905107<br>LEI: 549300LX07S5J8F76F37 | Long             | EC               | CORP              | CA        |     90000 | NS      | $2328734.64   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| PAR Technology Corp            | PAR Technology Corp                          | CUSIP: 698884103<br>LEI: 549300HYPTHBJQINVG57 | Long             | EC               | CORP              | US        |      4000 | NS      | $158320.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co        | Modine Manufacturing Co                      | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |     12000 | NS      | $1705920.00   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Spectrum Brands Holdings Inc   | Spectrum Brands Holdings Inc                 | CUSIP: 84790A105<br>LEI: 549300JM0MJETDD30O20 | Long             | EC               | CORP              | US        |      7500 | NS      | $393975.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Bausch + Lomb Corp             | Bausch + Lomb Corp                           | CUSIP: 071705107<br>LEI: 549300NY6OZM39SO6475 | Long             | EC               | CORP              | CA        |     17000 | NS      | $256190.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus Henderson Group PLC      | Janus Henderson Group PLC                    | CUSIP: 000000000<br>LEI: 2138009WPYMWJN3RVF44 | Long             | EC               | CORP              | GB        |      7500 | NS      | $333825.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Beer Co Inc/The         | Boston Beer Co Inc/The                       | CUSIP: 100557107<br>LEI: 529900Q02MQ0DCQNRM58 | Long             | EC               | CORP              | US        |       500 | NS      | $105710.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrier Global Corp            | Carrier Global Corp                          | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |      1000 | NS      | $59700.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemed Corp                    | Chemed Corp                                  | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |       400 | NS      | $179096.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Flushing Financial Corp        | Flushing Financial Corp                      | CUSIP: 343873105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30000 | NS      | $414300.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Wheaton Precious Metals Corp   | Wheaton Precious Metals Corp                 | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |      3000 | NS      | $335520.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Bird Corp                 | Blue Bird Corp                               | CUSIP: 095306106<br>LEI: 5493004ZXJUUWQ65ER59 | Long             | EC               | CORP              | US        |      1400 | NS      | $80570.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Acuren Corp                    | Acuren Corp                                  | CUSIP: 00510N102<br>LEI: 213800ZDFRNC8QXEZ481 | Long             | EC               | CORP              | US        |      5000 | NS      | $66550.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| TreeHouse Foods Inc            | TreeHouse Foods Inc                          | CUSIP: 89469A104<br>LEI: 5493007M7EVHE470Q576 | Long             | EC               | CORP              | US        |      3000 | NS      | $60630.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Surgery Partners Inc           | Surgery Partners Inc                         | CUSIP: 86881A100<br>LEI: 549300LC82HG33S19I03 | Long             | EC               | CORP              | US        |      8000 | NS      | $173120.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Metallus Inc                   | Metallus Inc                                 | CUSIP: 887399103<br>LEI: 549300QZTZWHDE9HJL14 | Long             | EC               | CORP              | US        |      4000 | NS      | $66120.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Brightstar Lottery PLC         | Brightstar Lottery PLC                       | CUSIP: 000000000<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | EC               | CORP              | US        |     40000 | NS      | $690000.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros Discovery Inc      | Warner Bros Discovery Inc                    | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |     30000 | NS      | $585900.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| XPLR Infrastructure LP         | XPLR Infrastructure LP                       | CUSIP: 65341B106<br>LEI: 5493008F4ZOQFNG3WN54 | Long             | EC               | CORP              | US        |      2500 | NS      | $25425.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Takasago International Corp    | Takasago International Corp                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     10000 | NS      | $109409.34    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Astec Industries Inc           | Astec Industries Inc                         | CUSIP: 046224101<br>LEI: 5493002DO2QKHLKB2A48 | Long             | EC               | CORP              | US        |     22700 | NS      | $1092551.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensient Technologies Corp     | Sensient Technologies Corp                   | CUSIP: 81725T100<br>LEI: CMMZHMFZQG86EI7WZU92 | Long             | EC               | CORP              | US        |      2500 | NS      | $234625.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill                  | CUSIP: 912797QY6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    620000 | PA      | $615304.54    | 0.48%             | 2025-12-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Mandarin Oriental Internationa | Mandarin Oriental International Ltd          | CUSIP: 000000000<br>LEI: 213800KQ1UMKZ1JXJR80 | Long             | EC               | CORP              | HK        |    636250 | NS      | $1495187.50   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| GCI Liberty Inc                | GCI Liberty Inc                              | CUSIP: 36164V800<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        20 | NS      | $745.40       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Global Ltd             | Liberty Global Ltd                           | CUSIP: 000000000<br>LEI: 213800HRMKKTYH7SKA24 | Long             | EC               | CORP              | GB        |     33500 | NS      | $393625.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Madison Square Garden Entertai | Madison Square Garden Entertainment Corp     | CUSIP: 558256103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       600 | NS      | $27144.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Penske Automotive Group Inc    | Penske Automotive Group Inc                  | CUSIP: 70959W103<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | EC               | CORP              | US        |      1000 | NS      | $173910.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Herc Holdings Inc              | Herc Holdings Inc                            | CUSIP: 42704L104<br>LEI: 549300TP80QLITMSBP82 | Long             | EC               | CORP              | US        |     23300 | NS      | $2718178.00   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Gogo Inc                       | Gogo Inc                                     | CUSIP: 38046C109<br>LEI: 549300VL3DIHSFHYTO04 | Long             | EC               | CORP              | US        |      5000 | NS      | $42950.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Fevertree Drinks PLC           | Fevertree Drinks PLC                         | CUSIP: 000000000<br>LEI: 2138007AJRLHRVQZLD07 | Long             | EC               | CORP              | GB        |     12000 | NS      | $140891.72    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Sinclair Inc                   | Sinclair Inc                                 | CUSIP: 829242106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     94000 | NS      | $1419400.00   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Monro Inc                      | Monro Inc                                    | CUSIP: 610236101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7000 | NS      | $125790.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Kerry Group PLC                | Kerry Group PLC                              | CUSIP: 000000000<br>LEI: 635400TLVVBNXLFHWC59 | Long             | EC               | CORP              | IE        |      9500 | NS      | $858817.58    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| TXNM Energy Inc                | TXNM Energy Inc                              | CUSIP: 69349H107<br>LEI: 5493003JOBJGLZSDDQ28 | Long             | EC               | CORP              | US        |     11200 | NS      | $633360.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Edgewell Personal Care Co      | Edgewell Personal Care Co                    | CUSIP: 28035Q102<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | EC               | CORP              | US        |      2000 | NS      | $40720.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp-Liberty Liv | Liberty Media Corp-Liberty Live              | CUSIP: 531229722<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        47 | NS      | $4557.59      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirion Technologies Inc        | Mirion Technologies Inc                      | CUSIP: 60471A101<br>LEI: 549300BNTOWVWFNVTJ65 | Long             | EC               | CORP              | US        |     20000 | NS      | $465200.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| National Fuel Gas Co           | National Fuel Gas Co                         | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     25200 | NS      | $2327724.00   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Velan Inc                      | Velan Inc                                    | CUSIP: 922932108<br>LEI: 549300DB4US7WDCNNN28 | Long             | EC               | CORP              | CA        |     10000 | NS      | $112093.12    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill                  | CUSIP: 912797QZ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    780000 | PA      | $773476.88    | 0.60%             | 2025-12-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Owens & Minor Inc              | Owens & Minor Inc                            | CUSIP: 690732102<br>LEI: 549300LMT5KQQXCEZ733 | Long             | EC               | CORP              | US        |     14000 | NS      | $67200.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Griffon Corp                   | Griffon Corp                                 | CUSIP: 398433102<br>LEI: 5493000C2SGNC7ZN3242 | Long             | EC               | CORP              | US        |      9000 | NS      | $685350.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Root Inc/OH                    | Root Inc/OH                                  | CUSIP: 77664L207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1600 | NS      | $143216.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Vehicle Group Inc   | Commercial Vehicle Group Inc                 | CUSIP: 202608105<br>LEI: 5493006OG8I91X0K7Q22 | Long             | EC               | CORP              | US        |     18000 | NS      | $30600.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Luckin Coffee Inc              | Luckin Coffee Inc                            | CUSIP: 54951L109<br>LEI: 549300FO16ASCVSMYI15 | Long             | EC               | CORP              | CN        |      6500 | NS      | $247065.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| First Citizens BancShares Inc/ | First Citizens BancShares Inc/NC             | CUSIP: 31946M103<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EC               | CORP              | US        |       100 | NS      | $178916.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ICU Medical Inc                | ICU Medical Inc                              | CUSIP: 44930G107<br>LEI: 5493003NRW7LS2QZRH60 | Long             | EC               | CORP              | US        |      3000 | NS      | $359880.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Graco Inc                      | Graco Inc                                    | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |     10000 | NS      | $849600.00    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc      | Halozyme Therapeutics Inc                    | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |      6000 | NS      | $440040.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Dana Inc                       | Dana Inc                                     | CUSIP: 235825205<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | EC               | CORP              | US        |     87000 | NS      | $1743480.00   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Connections Inc          | Waste Connections Inc                        | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |      3400 | NS      | $597720.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| American Vanguard Corp         | American Vanguard Corp                       | CUSIP: 030371108<br>LEI: 529900GWI78WZA5M9783 | Long             | EC               | CORP              | US        |      5000 | NS      | $28700.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Masterbrand Inc                | Masterbrand Inc                              | CUSIP: 57638P104<br>LEI: 549300E0Y4BR5Z9RDZ64 | Long             | EC               | CORP              | US        |      3500 | NS      | $46095.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Idorsia Ltd                    | Idorsia Ltd                                  | CUSIP: 000000000<br>LEI: 506700XOVZUB107S5720 | Long             | EC               | CORP              | CH        |      5000 | NS      | $27102.57     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Pets at Home Group Plc         | Pets at Home Group Plc                       | CUSIP: 000000000<br>LEI: 2138003Y9ULD24PD3J93 | Long             | EC               | CORP              | GB        |     12000 | NS      | $33052.26     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Telephone and Data Systems Inc | Telephone and Data Systems Inc               | CUSIP: 879433829<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15000 | NS      | $588600.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corp                    | Avista Corp                                  | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |     24000 | NS      | $907440.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Tennant Co                     | Tennant Co                                   | CUSIP: 880345103<br>LEI: JYAIRLT8DVP6DP8UT336 | Long             | EC               | CORP              | US        |      2400 | NS      | $194544.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntsman Corp                  | Huntsman Corp                                | CUSIP: 447011107<br>LEI: 5299000V56320A7RIQ67 | Long             | EC               | CORP              | US        |     19047 | NS      | $171042.06    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| DaVita Inc                     | DaVita Inc                                   | CUSIP: 23918K108<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | EC               | CORP              | US        |       500 | NS      | $66435.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Televisa SAB             | Grupo Televisa SAB                           | CUSIP: 40049J206<br>LEI: 549300O4AF0C816ILN62 | Long             | EC               | CORP              | MX        |    549000 | NS      | $1476810.00   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Nintendo Co Ltd                | Nintendo Co Ltd                              | CUSIP: 654445303<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |     42500 | NS      | $906950.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Rush Enterprises Inc           | Rush Enterprises Inc                         | CUSIP: 781846308<br>LEI: 529900V3XHTN7A6DFT17 | Long             | EC               | CORP              | US        |      4200 | NS      | $241164.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill                  | CUSIP: 912797RP4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6000000 | PA      | $5968111.20   | 4.61%             | 2025-11-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Loomis AB                      | Loomis AB                                    | CUSIP: 000000000<br>LEI: 213800NS2XXVRYS7WP40 | Long             | EC               | CORP              | SE        |     13500 | NS      | $575883.75    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Remy Cointreau SA              | Remy Cointreau SA                            | CUSIP: 000000000<br>LEI: 5493004V6A3Z027YT216 | Long             | EC               | CORP              | FR        |      5500 | NS      | $296905.50    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunrise Communications AG      | Sunrise Communications AG                    | CUSIP: 000000000<br>LEI: 213800RS9HRGTWOGCO08 | Long             | EC               | CORP              | CH        |     15500 | NS      | $915532.94    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| RWE AG                         | RWE AG                                       | CUSIP: 000000000<br>LEI: 529900GB7KCA94ACC940 | Long             | EC               | CORP              | DE        |      2500 | NS      | $111006.43    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CNH Industrial NV              | CNH Industrial NV                            | CUSIP: 000000000<br>LEI: 549300WGC2HZ5J67V817 | Long             | EC               | CORP              | GB        |    337000 | NS      | $3656450.00   | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcosa Inc                     | Arcosa Inc                                   | CUSIP: 039653100<br>LEI: 549300WFHLTCZV7D6V29 | Long             | EC               | CORP              | US        |      8500 | NS      | $796535.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| XOMA ROYALTY CORP              | XOMA Royalty Corp                            | CUSIP: 98419J305<br>LEI: 549300U6ZVYFCWNBJ613 | Long             | EP               | CORP              | US        |     10000 | NS      | $264700.00    | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Garrett Motion Inc             | Garrett Motion Inc                           | CUSIP: 366505105<br>LEI: 549300LS5WT7EMBNV724 | Long             | EC               | CORP              | CH        |     46002 | NS      | $626547.24    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Bouygues SA                    | Bouygues SA                                  | CUSIP: 000000000<br>LEI: 969500MOCLNQFNZN0D63 | Long             | EC               | CORP              | FR        |      3500 | NS      | $157463.59    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Emera Inc                      | Emera Inc                                    | CUSIP: 290876101<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | EC               | CORP              | CA        |      3700 | NS      | $177515.99    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinnevik AB                    | Kinnevik AB                                  | CUSIP: 000000000<br>LEI: 2138006PZH76JOS6MN27 | Long             | EC               | CORP              | SE        |      5000 | NS      | $44400.07     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Graham Holdings Co             | Graham Holdings Co                           | CUSIP: 384637104<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | EC               | CORP              | US        |      1300 | NS      | $1530503.00   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Movado Group Inc               | Movado Group Inc                             | CUSIP: 624580106<br>LEI: 549300WCGCGPWGHVXM59 | Long             | EC               | CORP              | US        |      6000 | NS      | $113820.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Vodafone Group PLC             | Vodafone Group PLC                           | CUSIP: 92857W308<br>LEI: 213800TB53ELEUKM7Q61 | Long             | EC               | CORP              | GB        |     90000 | NS      | $1044000.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp          | Tenet Healthcare Corp                        | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |      2200 | NS      | $446688.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Spirit AeroSystems Holdings In | Spirit AeroSystems Holdings Inc              | CUSIP: 848574109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1500 | NS      | $57900.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Toray Industries Inc           | Toray Industries Inc                         | CUSIP: 000000000<br>LEI: 35380099TCYR5FHT0A11 | Long             | EC               | CORP              | JP        |     40000 | NS      | $255685.16    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp-Liberty For | Liberty Media Corp-Liberty Formula One       | CUSIP: 531229771<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1000 | NS      | $95220.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Mattel Inc                     | Mattel Inc                                   | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |     15000 | NS      | $252450.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoNation Inc                 | AutoNation Inc                               | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2900 | NS      | $634433.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp                    | Cameco Corp                                  | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |     25250 | NS      | $2117465.00   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Sirius XM Holdings Inc         | Sirius XM Holdings Inc                       | CUSIP: 829933100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6500 | NS      | $151287.50    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Manchester United Plc          | Manchester United Plc                        | CUSIP: 000000000<br>LEI: 529900GWGZPE83MJOV59 | Long             | EC               | CORP              | GB        |     23500 | NS      | $355790.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill                  | CUSIP: 912797QR1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    165000 | PA      | $164091.07    | 0.13%             | 2025-11-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AZZ Inc                        | AZZ Inc                                      | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |      3500 | NS      | $381955.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimvie Inc                     | Zimvie Inc                                   | CUSIP: 98888T107<br>LEI: 549300GFKURT1J6XR665 | Long             | EC               | CORP              | US        |      3000 | NS      | $56820.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Ubisoft Entertainment SA       | Ubisoft Entertainment SA                     | CUSIP: 000000000<br>LEI: 969500I7C8V1LBIMSM05 | Long             | EC               | CORP              | FR        |     28000 | NS      | $319989.68    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Viemed Healthcare Inc          | Viemed Healthcare Inc                        | CUSIP: 92663R105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25000 | NS      | $169750.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Schein Inc               | Henry Schein Inc                             | CUSIP: 806407102<br>LEI: VGO3WGL8H45T73F4RR92 | Long             | EC               | CORP              | US        |      4900 | NS      | $325213.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinnevik AB                    | Kinnevik AB                                  | CUSIP: 000000000<br>LEI: 2138006PZH76JOS6MN27 | Long             | EC               | CORP              | SE        |     11000 | NS      | $98381.20     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Flex Ltd                       | Flex Ltd                                     | CUSIP: 000000000<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               | CORP              | US        |      1000 | NS      | $57970.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Rentokil Initial PLC           | Rentokil Initial PLC                         | CUSIP: 000000000<br>LEI: 549300VN4WV7Z6T14K68 | Long             | EC               | CORP              | GB        |     28000 | NS      | $141515.76    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill                  | CUSIP: 912797QS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    885000 | PA      | $878871.87    | 0.68%             | 2025-12-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Charles River Laboratories Int | Charles River Laboratories International Inc | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |       500 | NS      | $78230.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill                  | CUSIP: 912797NL7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    265000 | PA      | $263300.76    | 0.20%             | 2025-11-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NIQ Global Intelligence Plc    | NIQ Global Intelligence Plc                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5000 | NS      | $78500.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Allient Inc                    | Allient Inc                                  | CUSIP: 019330109<br>LEI: 549300I2LHAWYGNBPM97 | Long             | EC               | CORP              | US        |     16500 | NS      | $738375.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Pharol SGPS SA                 | Pharol SGPS SA                               | CUSIP: 000000000<br>LEI: 549300JNP3LA8FWLU630 | Long             | EC               | CORP              | PT        |    100000 | NS      | $7373.03      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Broadband Corp         | Liberty Broadband Corp                       | CUSIP: 530307107<br>LEI: 549300MIX43II8JLN536 | Long             | EC               | CORP              | US        |       800 | NS      | $50664.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Iveco Group NV                 | Iveco Group NV                               | CUSIP: 000000000<br>LEI: 549300ZWF2ZJDD9EOR96 | Long             | EC               | CORP              | IT        |    137800 | NS      | $2969546.97   | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Fomento Economico Mexicano SAB | Fomento Economico Mexicano SAB de CV         | CUSIP: 344419106<br>LEI: 549300A8MDWDJNMLV153 | Long             | EC               | CORP              | MX        |      9000 | NS      | $887670.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Integer Holdings Corp          | Integer Holdings Corp                        | CUSIP: 45826H109<br>LEI: 549300SUD2ED5XG6X569 | Long             | EC               | CORP              | US        |      1500 | NS      | $154995.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Post Holdings Inc              | Post Holdings Inc                            | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |      4000 | NS      | $429920.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Rad Laboratories Inc       | Bio-Rad Laboratories Inc                     | CUSIP: 090572207<br>LEI: 549300ZC1GPV35XYDK53 | Long             | EC               | CORP              | US        |       600 | NS      | $168234.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Linamar Corp                   | Linamar Corp                                 | CUSIP: 53278L107<br>LEI: 549300LW6VIYFRMFBU20 | Long             | EC               | CORP              | CA        |      1200 | NS      | $64358.70     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowserve Corp                 | Flowserve Corp                               | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |     31500 | NS      | $1673910.00   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Option Care Health Inc         | Option Care Health Inc                       | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |     14000 | NS      | $388640.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurotelesites AG               | Eurotelesites AG                             | CUSIP: 000000000<br>LEI: 5299007TJV9W1OY91Y28 | Long             | EC               | CORP              | AT        |      8250 | NS      | $47654.69     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| EW Scripps Co/The              | EW Scripps Co/The                            | CUSIP: 811054402<br>LEI: 549300U1OW41QPKYW028 | Long             | EC               | CORP              | US        |     12000 | NS      | $29520.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Niagen Bioscience Inc          | Niagen Bioscience Inc                        | CUSIP: 171077407<br>LEI: 529900OPI7B8JPXCVS70 | Long             | EC               | CORP              | US        |     40000 | NS      | $373200.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Wartsila OYJ Abp               | Wartsila OYJ Abp                             | CUSIP: 000000000<br>LEI: 743700G7A9J1PHM3X223 | Long             | EC               | CORP              | FI        |      7000 | NS      | $209157.01    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Yakult Honsha Co Ltd           | Yakult Honsha Co Ltd                         | CUSIP: 000000000<br>LEI: 353800YJPSPGG7KI0S71 | Long             | EC               | CORP              | JP        |     42000 | NS      | $684876.76    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Millicom International Cellula | Millicom International Cellular SA           | CUSIP: 000000000<br>LEI: 549300CTHC1CP86P2G96 | Long             | EC               | CORP              | LU        |     38500 | NS      | $1868790.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| MarineMax Inc                  | MarineMax Inc                                | CUSIP: 567908108<br>LEI: 254900TIXTN8WY3FNN63 | Long             | EC               | CORP              | US        |      5500 | NS      | $139315.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Ampco-Pittsburgh Corp          | Ampco-Pittsburgh Corp                        | CUSIP: 032037103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100000 | NS      | $229000.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Enpro Inc                      | Enpro Inc                                    | CUSIP: 29355X107<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | EC               | CORP              | US        |      6800 | NS      | $1536800.00   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawaiian Electric Industries I | Hawaiian Electric Industries Inc             | CUSIP: 419870100<br>LEI: JJ8FWOCWCV22X7GUPJ23 | Long             | EC               | CORP              | US        |      2500 | NS      | $27600.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Salvatore Ferragamo SpA        | Salvatore Ferragamo SpA                      | CUSIP: 000000000<br>LEI: 5493005GRP0FEE3NRI35 | Long             | EC               | CORP              | IT        |      9500 | NS      | $59671.09     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Hertz Global Holdings Inc      | Hertz Global Holdings Inc                    | CUSIP: 42806J700<br>LEI: 549300NBK3K85MH1EX16 | Long             | EC               | CORP              | US        |     22000 | NS      | $149600.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Jardine Matheson Holdings Ltd  | Jardine Matheson Holdings Ltd                | CUSIP: 000000000<br>LEI: 2138009KENVUNWOLPK41 | Long             | EC               | CORP              | HK        |      8500 | NS      | $535500.00    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| VITASOY INT'L                  | Vitasoy International Holdings Ltd           | CUSIP: 000000000<br>LEI: 5493003LPGHN62KWIZ77 | Long             | EC               | CORP              | HK        |    215000 | NS      | $233180.63    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries Inc         | Mueller Industries Inc                       | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |     36000 | NS      | $3639960.00   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Severn Trent PLC               | Severn Trent PLC                             | CUSIP: 000000000<br>LEI: 213800RPBXRETY4A4C59 | Long             | EC               | CORP              | GB        |     47000 | NS      | $1635882.56   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Chocoladefabriken Lindt & Spru | Chocoladefabriken Lindt & Spruengli AG       | CUSIP: 000000000<br>LEI: 529900JYJNNOKKAGK736 | Long             | EC               | CORP              | CH        |       280 | NS      | $4277118.27   | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Tsingtao Brewery Co Ltd        | Tsingtao Brewery Co Ltd                      | CUSIP: 000000000<br>LEI: 300300OJ7D0Q1ESE8L15 | Long             | EC               | CORP              | CN        |     40000 | NS      | $272425.29    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Essity AB                      | Essity AB                                    | CUSIP: 000000000<br>LEI: 549300G8E6YUVJ1DA153 | Long             | EC               | CORP              | SE        |      5500 | NS      | $143599.17    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Cie de L'Odet SE               | Cie de L'Odet SE                             | CUSIP: 000000000<br>LEI: 9695005PEG4IL375U849 | Long             | EC               | CORP              | FR        |       350 | NS      | $560491.47    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Limoneira Co                   | Limoneira Co                                 | CUSIP: 532746104<br>LEI: 549300UCPZVJGYHI7550 | Long             | EC               | CORP              | US        |     12500 | NS      | $185625.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Wynn Resorts Ltd               | Wynn Resorts Ltd                             | CUSIP: 983134107<br>LEI: 254900CEKKWIHTEAB172 | Long             | EC               | CORP              | US        |      7400 | NS      | $949198.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Corus Entertainment Inc        | Corus Entertainment Inc                      | CUSIP: 220874101<br>LEI: 549300DVZFTUMM4M2O84 | Long             | EC               | CORP              | CA        |     35000 | NS      | $2263.42      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Nissin Foods Co Ltd            | Nissin Foods Co Ltd                          | CUSIP: 000000000<br>LEI: 353800BDH75N9VLV9Z07 | Long             | EC               | CORP              | HK        |    250000 | NS      | $222951.83    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| TRINITY PLACE HOLDINGS INC     | TRINITY PLACE HOLDINGS INC                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Myers Industries Inc           | Myers Industries Inc                         | CUSIP: 628464109<br>LEI: 549300I2H9XMVTCW4Q51 | Long             | EC               | CORP              | US        |     28000 | NS      | $474320.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ITV PLC                        | ITV PLC                                      | CUSIP: 000000000<br>LEI: ZLECI7ED2QMWFGYCXZ59 | Long             | EC               | CORP              | GB        |    225000 | NS      | $241930.70    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Madison Square Garden Sports C | Madison Square Garden Sports Corp            | CUSIP: 55825T103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5000 | NS      | $1135000.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd              | FTAI Aviation Ltd                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3400 | NS      | $567324.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc         | Intuitive Surgical Inc                       | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |       300 | NS      | $134169.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| I3 Verticals Inc               | I3 Verticals Inc                             | CUSIP: 46571Y107<br>LEI: 549300944CYWVP06CJ97 | Long             | EC               | CORP              | US        |      5000 | NS      | $162300.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| STERIS PLC                     | STERIS PLC                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       700 | NS      | $173208.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Treace Medical Concepts Inc    | Treace Medical Concepts Inc                  | CUSIP: 89455T109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7500 | NS      | $50325.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Music Group NV       | Universal Music Group NV                     | CUSIP: 000000000<br>LEI: 724500GJBUL3D9TW9Y18 | Long             | EC               | CORP              | NL        |      7000 | NS      | $201842.68    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Hera SpA                       | Hera SpA                                     | CUSIP: 000000000<br>LEI: 8156009414FD99443B48 | Long             | EC               | CORP              | IT        |    100000 | NS      | $449661.15    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| GAM Holding AG                 | GAM Holding AG                               | CUSIP: 000000000<br>LEI: 549300GGVID7ZGDMX291 | Long             | EC               | CORP              | CH        |    250000 | NS      | $46479.49     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Davide Campari-Milano NV       | Davide Campari-Milano NV                     | CUSIP: 000000000<br>LEI: 213800ED5AN2J56N6Z02 | Long             | EC               | CORP              | IT        |    120000 | NS      | $756557.82    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Moog Inc                       | Moog Inc                                     | CUSIP: 615394202<br>LEI: 549300WM2I4U7OBAHG07 | Long             | EC               | CORP              | US        |      2650 | NS      | $550325.50    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Hain Celestial Group Inc/The   | Hain Celestial Group Inc/The                 | CUSIP: 405217100<br>LEI: 5493000S8QXWHLIXDP75 | Long             | EC               | CORP              | US        |      7500 | NS      | $11850.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashland Inc                    | Ashland Inc                                  | CUSIP: 044186104<br>LEI: 529900E4L9R04SB8HB11 | Long             | EC               | CORP              | US        |      4500 | NS      | $215595.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Xylem Inc/NY                   | Xylem Inc/NY                                 | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |      4600 | NS      | $678500.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Daimler Truck Holding AG       | Daimler Truck Holding AG                     | CUSIP: 000000000<br>LEI: 529900PW78JIYOUBSR24 | Long             | EC               | CORP              | DE        |      4000 | NS      | $164460.92    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| JCDecaux SE                    | JCDecaux SE                                  | CUSIP: 000000000<br>LEI: 9695009KV7AFPDEI5S30 | Long             | EC               | CORP              | FR        |     66000 | NS      | $1183231.07   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Treasury Wine Estates Ltd      | Treasury Wine Estates Ltd                    | CUSIP: 000000000<br>LEI: 529900LVOPJGAX6ILK66 | Long             | EC               | CORP              | AU        |      9000 | NS      | $42103.97     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Vivendi SE                     | Vivendi SE                                   | CUSIP: 000000000<br>LEI: 969500FU4DRAEVJW7U54 | Long             | EC               | CORP              | FR        |    225000 | NS      | $791955.43    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Kameda Seika Co Ltd            | Kameda Seika Co Ltd                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     15500 | NS      | $432870.14    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Megacable Holdings SAB de CV   | Megacable Holdings SAB de CV                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |     15000 | NS      | $48750.92     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| EXOR NV                        | EXOR NV                                      | CUSIP: 000000000<br>LEI: 5493002ENHZ6NYET7405 | Long             | EC               | CORP              | NL        |      6200 | NS      | $605621.95    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Brembo NV                      | Brembo NV                                    | CUSIP: 000000000<br>LEI: 549300BLWVJN2BAT0A44 | Long             | EC               | CORP              | IT        |     50013 | NS      | $527579.10    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc          | Lantheus Holdings Inc                        | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |      2200 | NS      | $112838.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Teva Pharmaceutical Industries | Teva Pharmaceutical Industries Ltd           | CUSIP: 881624209<br>LEI: 549300BAFGM4RC74ZJ94 | Long             | EC               | CORP              | IL        |     15000 | NS      | $303000.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Watts Water Technologies Inc   | Watts Water Technologies Inc                 | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |      3600 | NS      | $1005408.00   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Flutter Entertainment PLC      | Flutter Entertainment PLC                    | CUSIP: 000000000<br>LEI: 635400EG4YIJLJMZJ782 | Long             | EC               | CORP              | US        |       901 | NS      | $234353.40    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlanta Braves Holdings Inc    | Atlanta Braves Holdings Inc                  | CUSIP: 047726302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27011 | NS      | $1123387.49   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Heineken Holding NV            | Heineken Holding NV                          | CUSIP: 000000000<br>LEI: 724500M1WJLFM9TYBS04 | Long             | EC               | CORP              | NL        |      1000 | NS      | $68505.82     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-28

**Name of Applicant:** Gabelli Global Small & Mid Cap Value Trust

**Signature:** John C. Ball

**Name of Signer:** John C. Ball

**Title:** Treasurer