# EDGAR Filing Document

**Accession Number:** 0001811114
**File Stem:** 0001193125-26-075010
**Filing Date:** 2026-2
**Character Count:** 60743
**Document Hash:** b9b7e3fdcbbf25d0bcfd78dfea3a67e1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-075010.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0001193125-26-075010

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BBR ALO Fund, LLC
- **CENTRAL INDEX KEY:** 0001811114

**ORGANIZATION NAME:**
- **EIN:** 844531109
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23567
- **FILM NUMBER:** 26684271

**BUSINESS ADDRESS:**
- **STREET 1:** C/O BBR PARTNERS, LLC
- **STREET 2:** 55 EAST 52ND STREET, 18TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10055
- **BUSINESS PHONE:** (212) 313-9870

**MAIL ADDRESS:**
- **STREET 1:** C/O BBR PARTNERS, LLC
- **STREET 2:** 55 EAST 52ND STREET, 18TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10055

## Nport-Ex

**BBR ALO Fund, LLC**

**SCHEDULE OF INVESTMENTS**

**As of December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS — 81.5%** |  |
|  | **COMMUNICATIONS — 3.8%** |  |
| 287644 | Auto Trader Group PLC<sup>1</sup> | $2272628 |
| 3336 | Booking Holdings, Inc.\* | 17865381 |
| 166849 | Fox Corp. | 12191656 |
| 2902000 | HIK Trust and HKT, Ltd.<sup>1</sup> | 4291774 |
| 542334 | Informa PLC<sup>1</sup> | 6459489 |
| 897344 | Koninklijke KPN NV<sup>1</sup> | 4191049 |
| 401652 | Pearson PLC<sup>1</sup> | 5682223 |
| 365899 | Rightmove PLC<sup>1</sup> | 2561589 |
| 501775 | Warner Bros Discovery, Inc.\* | 14461155 |
|  |  | **69976944** |
|  | **CONSUMER DISCRETIONARY — 7.2%** |  |
| 63965 | Amadeus IT Group SA<sup>1</sup> | 4721674 |
| 134144 | Aristrocrat Leisure, Ltd.<sup>1</sup> | 5208554 |
| 133581 | Buckle, Inc. | 7135897 |
| 104953 | Bunzl PLC<sup>1</sup> | 2935630 |
| 975433 | Copart, Inc.\* | 38188202 |
| 21560 | Dillard's, Inc. | 13072690 |
| 309300 | Honda Motor Co., Ltd.<sup>1</sup> | 3031618 |
| 110875 | Industria de Diseno Textil SA<sup>1</sup> | 7337833 |
| 177213 | Lottomatica Group SPA<sup>1</sup> | 4662952 |
| 3891 | NVR, Inc.\* | 28376168 |
| 110800 | Open House Group Co., Ltd.<sup>1</sup> | 6506168 |
| 140873 | Signet Jewelers, Ltd. | 11675554 |
|  |  | **132852940** |
|  | **CONSUMER STAPLES — 2.8%** |  |
| 115148 | British American Tobacco PLC<sup>1</sup> | 6537775 |
| 36710 | Canadian Tire Corporation, Ltd.<sup>1</sup> | 4652680 |
| 46429 | Danone<sup>1</sup> | 4187500 |
| 333375 | Glanbia PLC<sup>1</sup> | 5713545 |
| 752148 | Haleon PLC<sup>1</sup> | 3798236 |
| 31069 | Kerry Group PLC<sup>1</sup> | 2846684 |
| 84229 | Koninklijke Ahold Delhaize NV<sup>1</sup> | 3450094 |
| 21551 | Philip Morris International, Inc. | 3456780 |
| 29676 | Reckitt Benckiser Group PLC<sup>1</sup> | 2399830 |
| 37059 | Salmar ASA<sup>1</sup> | 2268768 |
| 1525392 | Tesco PLC<sup>1</sup> | 9080008 |
| 64200 | Toyo Suisan Kaisha, Ltd.<sup>1</sup> | 4403995 |
|  |  | **52795895** |
|  | **ENERGY — 3.3%** |  |
| 150803 | HF Sinclair Corp. | 6949002 |

---

**BBR ALO Fund, LLC**

**SCHEDULE OF INVESTMENTS - Continued**

**As of December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **ENERGY (Continued)** |  |
| 121328 | Landbridge Company LLC | $5943859 |
| 54051 | Marathon Petroleum Corp. | 8790314 |
| 178430 | Shell PLC<sup>1</sup> | 6587149 |
| 18894 | Texas Pacific Land Corp. | 5426735 |
| 53478 | TotalEnergies SE<sup>1</sup> | 3492120 |
| 65268 | Valero Energy Corp. | 10624978 |
| 181266 | Weatherford International PLC | 14185877 |
|  |  | **62000034** |
|  | **FINANCIALS — 15.5%** |  |
| 523400 | AIA Group, Ltd.<sup>1</sup> | 5373344 |
| 829313 | AIB Group PLC<sup>1</sup> | 8962387 |
| 190000 | Arch Capital Group, Ltd.\* | 18224800 |
| 155487 | AXA SA<sup>1</sup> | 7481202 |
| 327539 | Bank Leumi Le-Israel<sup>1</sup> | 7228987 |
| 39469 | BAWAG Group AG<sup>1</sup> | 5980854 |
| 372794 | Beazley PLC<sup>1</sup> | 4178990 |
| 612400 | BOC Aviation, Ltd.<sup>1</sup> | 5728365 |
| 311463 | Brown & Brown, Inc. | 24823601 |
| 40816 | Hingham Institution for Savings | 11590111 |
| 356643 | IG Group Holdings PLC<sup>1</sup> | 6318857 |
| 67554 | KBC Group NV<sup>1</sup> | 8828125 |
| 42000 | Kinsale Capital Group, Inc. | 16427040 |
| 21708 | London Stock Exchange Group PLC<sup>1</sup> | 2618297 |
| 1293920 | Medibank Private, Ltd.<sup>1</sup> | 4136330 |
| 393700 | Mitsubishi UFJ Financial Group, Inc.<sup>1</sup> | 6263124 |
| 823134 | NatWest Group PLC<sup>1</sup> | 7228762 |
| 103133 | NN Group N.V.<sup>1</sup> | 7964247 |
| 379660 | Nordea Bank Abp<sup>1</sup> | 7170046 |
| 512500 | Oversea-Chinese Banking Corporation, Ltd.<sup>1</sup> | 7878481 |
| 110258 | Primerica, Inc. | 28486257 |
| 335500 | RLI Corp. | 21465290 |
| 20606 | Royal Bank of Canada<sup>1</sup> | 3513260 |
| 212916 | Scorpio Tankers, Inc. | 10822520 |
| 239900 | Singapore Exchange, Ltd.<sup>1</sup> | 3165321 |
| 172900 | Sumitomo Mitsui Financial Group, Inc.<sup>1</sup> | 5561795 |
| 243690 | Teekay Tankers, Ltd. | 13017920 |
| 50022 | Toronto Dominion Bank<sup>1</sup> | 4714985 |
| 277481 | Tryg A/S<sup>1</sup> | 7265271 |
| 86055 | UniCredit SPA<sup>1</sup> | 7169060 |
| 100859 | WR Berkley Corp. | 7072233 |
|  |  | **286659862** |

---

**BBR ALO Fund, LLC**

**SCHEDULE OF INVESTMENTS - Continued**

**As of December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **HEALTH CARE — 6.5%** |  |
| 47776 | AstraZeneca PLC<sup>1</sup> | $8876732 |
| 54400 | Chugai Pharmaceutical Co., Ltd.<sup>1</sup> | 2861459 |
| 32150 | Elevance Health, Inc. | 11270182 |
| 48306 | Fresenius SE & Co KGaA<sup>1</sup> | 2779311 |
| 23637 | Galenica AG<sup>1</sup> | 2913620 |
| 34903 | Humana, Inc. | 8939705 |
| 36611 | IDEXX Laboratories, Inc.\* | 24768440 |
| 209692 | Lantheus Holdings, Inc.\* | 13955003 |
| 44194 | Molina Healthcare, Inc.\* | 7669427 |
| 47668 | Novartis AG<sup>1</sup> | 6591487 |
| 80746 | Novo Nordisk A/S<sup>1</sup> | 4129930 |
| 18762 | Roche Holding AG<sup>1</sup> | 7768974 |
| 115900 | Takeda Pharmaceutical Co., Ltd.<sup>1</sup> | 3575882 |
| 29190 | United Therapeutics Corp.\* | 14222827 |
|  |  | **120322979** |
|  | **INDUSTRIALS — 21.4%** |  |
| 83985 | ABB, Ltd.<sup>1</sup> | 6275034 |
| 162900 | Ametek, Inc. | 33444999 |
| 300954 | Amphenol Corp., Class A | 40670923 |
| 409984 | BAE Systems PLC<sup>1</sup> | 9467968 |
| 265258 | Canadian Pacific Kansas City | 19530946 |
| 202598 | Compass Group PLC<sup>1</sup> | 6453000 |
| 342100 | ENEOS Holdings, Inc.<sup>1</sup> | 2416596 |
| 394585 | Fastenal Company | 15834696 |
| 111154 | Gentex Corp. | 2586554 |
| 374734 | Graco, Inc. | 30716946 |
| 266509 | HEICO Corp., Class A | 67274877 |
| 55000 | IDEX Corp. | 9786700 |
| 93567 | Landstar System, Inc. | 13445578 |
| 260842 | Old Dominion Freight Line, Inc. | 40900026 |
| 2839700 | Persol Holdings Co., Ltd.<sup>1</sup> | 5265885 |
| 64527 | Prysmian SPA<sup>1</sup> | 6547448 |
| 91000 | RBC Bearings, Inc.\* | 40807130 |
| 192194 | RELX PLC<sup>1</sup> | 7820343 |
| 118591 | Ryanair Holdings PLC<sup>1</sup> | 4116485 |
| 21523 | Safran SA<sup>1</sup> | 7519018 |
| 29205 | Schneider Electric SE<sup>1</sup> | 8058563 |
| 67503 | Stantec, Inc.<sup>1</sup> | 6370583 |
| 30066 | Vinci SA<sup>1</sup> | 4239896 |
| 119125 | Weir Group PLC<sup>1</sup> | 4567903 |
| 33095 | Wolters Kluwer NV<sup>1</sup> | 3434291 |
|  |  | **397552388** |

---

**BBR ALO Fund, LLC**

**SCHEDULE OF INVESTMENTS - Continued**

**As of December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **MATERIALS — 5.5%** |  |
| 42729 | Brenntag SE<sup>1</sup> | $2487548 |
| 156477 | CF Industries Holdings, Inc. | 12101931 |
| 156285 | Core Natural Resources, Inc. | 13832785 |
| 62750 | Linde PLC<sup>1</sup> | 26755973 |
| 311557 | LyondellBasell Industries - Class A | 13490418 |
| 34847 | Rio Tinto, Ltd.<sup>1</sup> | 3414466 |
| 85000 | Simpson Manufacturing Co, Inc. | 13724950 |
| 184040 | Warrior Met Coal, Inc. | 16226807 |
|  |  | **102034878** |
|  | **REAL ESTATE — 0.4%** |  |
| 630300 | Mitsui Fudosan Co, Ltd.<sup>1</sup> | **7161312** |
|  | **TECHNOLOGY — 14.4%** |  |
| 16454 | AppFolio, Inc.\* | 3828023 |
| 38580 | Applied Materials, Inc. | 9914674 |
| 4889 | ASML Holding NV<sup>1</sup> | 5291583 |
| 138600 | BIPROGY, Inc.<sup>1</sup> | 4788338 |
| 104076 | Cisco Systems, Inc. | 8016974 |
| 2169 | Constellation Software, Inc.<sup>1</sup> | 5217675 |
| 104713 | CoStar Group, Inc.\* | 7040902 |
| 15078 | Descartes Systems Group, Inc.\* | 1321737 |
| 48307 | Euronext NV<sup>1</sup> | 7263357 |
| 333119 | HP, Inc. | 7421891 |
| 180044 | Intel Corp. | 6643624 |
| 39709 | Interdigital, Inc. | 12642551 |
| 7609 | KLA Corp. | 9245544 |
| 69854 | Lam Research Corp. | 11957608 |
| 46946 | Micron Technology, Inc. | 13398858 |
| 34772 | Moody's Corp. | 17763276 |
| 41946 | MSCI, Inc. | 24065679 |
| 23780 | NICE, Ltd.\* | 2688091 |
| 85100 | Nomura Research Institute, Ltd.<sup>1</sup> | 3269652 |
| 152400 | OBIC Co., Ltd.<sup>1</sup> | 4786630 |
| 38545 | SAP SE<sup>1</sup> | 9433632 |
| 251400 | Sony Group Corp.<sup>1</sup> | 6455450 |
| 32400 | Taiwan Semiconductor Manufacturing Co., Ltd. | 9846036 |
| 63651 | Teledyne Technologies, Inc.\* | 32508475 |
| 32120 | Tyler Technologies, Inc.\* | 14580874 |
| 119842 | Veeva Systems, Inc. - Class A\* | 26752330 |
|  |  | **266143464** |
|  | **UTILITIES — 0.7%** |  |
| 716817 | Enel SPA<sup>1</sup> | $7474668 |
| 397852 | National Grid PLC<sup>1</sup> | 6118944 |
|  |  | **13593612** |
|  | **TOTAL COMMON STOCKS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $1,157,030,404) | **1511094308** |

---

**BBR ALO Fund, LLC**

**SCHEDULE OF INVESTMENTS - Continued**

**As of December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Number<br> of Units |  | Value |
|  | **INVESTMENT FUNDS — 14.9%** |  |
|  | HWC Long Onshore Fund, LP\* | $275805942 |
|  | **TOTAL INVESTMENT FUNDS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $222,000,000) | **275805942** |
|  | **TOTAL INVESTMENTS — 96.4%** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $1,379,030,404) | **1786900250** |
|  | Other Assets in Excess of Liabilities — 3.6% | 65819316 |
|  | **TOTAL NET ASSETS — 100.0%** | $**1852719566** |

---

LLC – Limited Liability Company

PLC – Public Limited Company

SP ADR – Sponsored American Depository Receipt

SE – Societas Europea

SA – Société Anonyme

LP – Limited Partnership

1 Foreign security denominated in U.S. Dollars.

---

| | |
|:---|:---|
| 2 | Partnership is not designated in units. The Fund owns approximately 28.97% of HWC Long Master Fund, LP through its investment in HWC Long Onshore Fund, LP, which invests substantially all of its assets in HWC Long Master Fund, LP, and has contractually waived its right to vote its interests. |

---

\* Non-income producing security.

Additional information on Investment Funds is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Security** | **Redemption<br> Permitted** | **Acquisition<br> Date** | **Investment<br> Strategy** | **Redemption<br> Notice Period** |
| HWC Long Onshore Fund, LP | Quarterly | 5/1/2024 | Long-Only Equities<sup>a</sup> | 45 Days |

---

<sup>a</sup> This investment category includes investment funds that make long-only investments in equity securities that are deemed by investment managers to be undervalued and to present certain sustainable advantages.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BBR ALO Fund, LLC.

- **b. Investment Company Act file number:** 811-23567

- **c. CIK number of Registrant:** 0001811114

- **d. LEI of Registrant:** 54930034JXXTXNW5VS45

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

  - **Street Address 1:** 55 East 52nd Street,

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10055

  - **Telephone number:** 2123139870

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

- **a. Name of Series:** BBR ALO Fund, LLC.

- **c. LEI of Series:** 54930034JXXTXNW5VS45

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-12-31

**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:** $1920545052.73

**Total Liabilities:** $67825486.54

**Net Assets:** $1852719566.19

**Cash Not Reported:** $131828964.00

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -0.91%               | 0.21%                | 1.23%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $14864715.16             | $-30709672.89                              |
| Month 2  | $3440381.44              | $-608495.75                                |
| Month 3  | $-10292796.08            | $32797244.76                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| HEICO CORP NEW CL A                  | HEICO CORP NEW CL A                  | CUSIP: 422806208<br>LEI: N/A | Long             | EC               | CORP              | US        |    142231 | NS      | $35903371.33  | 1.94%             |  |  |  | No            | 1                  | On Loan: No      |
| WARRIOR MET COAL INC                 | WARRIOR MET COAL INC                 | CUSIP: 93627C101<br>LEI: N/A | Long             | EC               | CORP              | US        |    184040 | NS      | $16226806.80  | 0.88%             |  |  |  | No            | 1                  | On Loan: No      |
| GENTEX CORP COM                      | GENTEX CORP COM                      | CUSIP: 371901109<br>LEI: N/A | Long             | EC               | CORP              | US        |    111154 | NS      | $2586553.58   | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| GLANBIA PLC                          | GLANBIA PLC                          | CUSIP: G39021103<br>LEI: N/A | Long             | EC               | CORP              | IE        |    333375 | NS      | $5713545.47   | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| IDEX CORP                            | IDEX CORP                            | CUSIP: 45167R104<br>LEI: N/A | Long             | EC               | CORP              | US        |     55000 | NS      | $9786700.00   | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Micron Technology Inc                | Micron Technology Inc                | CUSIP: 595112103<br>LEI: N/A | Long             | EC               | CORP              | US        |     46946 | NS      | $13398857.86  | 0.72%             |  |  |  | No            | 1                  | On Loan: No      |
| NATIONAL GRID PLC                    | NATIONAL GRID PLC                    | CUSIP: G6S9A7120<br>LEI: N/A | Long             | EC               | CORP              | GB        |    397852 | NS      | $6118944.46   | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| NOVO NORDISK A/S-B                   | NOVO NORDISK A/S-B                   | CUSIP: K72807140<br>LEI: N/A | Long             | EC               | CORP              | DK        |     80746 | NS      | $4129929.79   | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| RBC BEARINGS INC                     | RBC BEARINGS INC                     | CUSIP: 75524B104<br>LEI: N/A | Long             | EC               | CORP              | US        |     91000 | NS      | $40807130.00  | 2.20%             |  |  |  | No            | 1                  | On Loan: No      |
| PEARSON ORD GBP0.25                  | PEARSON ORD GBP0.25                  | CUSIP: G69651100<br>LEI: N/A | Long             | EC               | CORP              | GB        |    401652 | NS      | $5682223.11   | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| PRYSMIAN SPA                         | PRYSMIAN SPA                         | CUSIP: T7630L105<br>LEI: N/A | Long             | EC               | CORP              | IT        |     64527 | NS      | $6547447.73   | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Primerica Inc                        | Primerica Inc                        | CUSIP: 74164M108<br>LEI: N/A | Long             | EC               | CORP              | US        |    110258 | NS      | $28486256.88  | 1.54%             |  |  |  | No            | 1                  | On Loan: No      |
| WEIR GROUP PLC/THE                   | WEIR GROUP PLC/THE                   | CUSIP: G95248137<br>LEI: N/A | Long             | EC               | CORP              | GB        |    119125 | NS      | $4567902.85   | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| WARNER BROS DISCOVERY INC            | WARNER BROS DISCOVERY INC            | CUSIP: 934423104<br>LEI: N/A | Long             | EC               | CORP              | US        |    501775 | NS      | $14461155.50  | 0.78%             |  |  |  | No            | 1                  | On Loan: No      |
| VALERO ENERGY CORP                   | VALERO ENERGY CORP                   | CUSIP: 91913Y100<br>LEI: N/A | Long             | EC               | CORP              | US        |     65268 | NS      | $10624977.72  | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| VEEVA SYS INC CL A COM               | VEEVA SYS INC CL A COM               | CUSIP: 922475108<br>LEI: N/A | Long             | EC               | CORP              | US        |    119842 | NS      | $26752329.66  | 1.44%             |  |  |  | No            | 1                  | On Loan: No      |
| UNITED THERAPEUTICS CORP DEL COM     | UNITED THERAPEUTICS CORP DEL COM     | CUSIP: 91307C102<br>LEI: N/A | Long             | EC               | CORP              | US        |     29190 | NS      | $14222827.50  | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| UNICREDIT SPA                        | UNICREDIT SPA                        | CUSIP: T9T23L642<br>LEI: N/A | Long             | EC               | CORP              | IT        |     86055 | NS      | $7169059.79   | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Tyler Technologies Inc               | Tyler Technologies Inc               | CUSIP: 902252105<br>LEI: N/A | Long             | EC               | CORP              | US        |     32120 | NS      | $14580874.00  | 0.79%             |  |  |  | No            | 1                  | On Loan: No      |
| TAIWAN SEMICONDUCTOR-SP ADR          | TAIWAN SEMICONDUCTOR-SP ADR          | CUSIP: 874039100<br>LEI: N/A | Long             | EC               | CORP              | TW        |     32400 | NS      | $9846036.00   | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| TESCO ORD GBP0.05                    | TESCO ORD GBP0.05                    | CUSIP: G8T67X102<br>LEI: N/A | Long             | EC               | CORP              | GB        |   1525392 | NS      | $9080007.88   | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| TRYG A/S                             | TRYG A/S                             | CUSIP: K9640A110<br>LEI: N/A | Long             | EC               | CORP              | DK        |    277481 | NS      | $7265271.27   | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| AMETEK Inc                           | AMETEK Inc                           | CUSIP: 031100100<br>LEI: N/A | Long             | EC               | CORP              | US        |    162900 | NS      | $33444999.00  | 1.81%             |  |  |  | No            | 1                  | On Loan: No      |
| Amphenol Corp                        | Amphenol Corp                        | CUSIP: 032095101<br>LEI: N/A | Long             | EC               | CORP              | US        |    300954 | NS      | $40670923.56  | 2.20%             |  |  |  | No            | 1                  | On Loan: No      |
| AMADEUS IT HLDGS EUR0.01             | AMADEUS IT HLDGS EUR0.01             | CUSIP: E04648114<br>LEI: N/A | Long             | EC               | CORP              | ES        |     63965 | NS      | $4721673.44   | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| ASTRAZENECA ORD USD0.25              | ASTRAZENECA ORD USD0.25              | CUSIP: G0593M107<br>LEI: N/A | Long             | EC               | CORP              | GB        |     47776 | NS      | $8876731.88   | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| TAKEDA PHARMACEUTI NPV               | TAKEDA PHARMACEUTI NPV               | CUSIP: J8129E108<br>LEI: N/A | Long             | EC               | CORP              | JP        |    115900 | NS      | $3575882.20   | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| NOMURA RESEARCH IN NPV               | NOMURA RESEARCH IN NPV               | CUSIP: J5900F106<br>LEI: N/A | Long             | EC               | CORP              | JP        |     85100 | NS      | $3269651.59   | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| OPEN HOUSE CO LTD                    | OPEN HOUSE CO LTD                    | CUSIP: J3072G101<br>LEI: N/A | Long             | EC               | CORP              | JP        |    110800 | NS      | $6506168.08   | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| TOYO SUISAN KAISHA NPV               | TOYO SUISAN KAISHA NPV               | CUSIP: 892306101<br>LEI: N/A | Long             | EC               | CORP              | JP        |     64200 | NS      | $4403994.64   | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Copart Inc                           | Copart Inc                           | CUSIP: 217204106<br>LEI: N/A | Long             | EC               | CORP              | US        |    366500 | NS      | $14348475.00  | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| COMPASS GROUP ORD GBP0.10625         | COMPASS GROUP ORD GBP0.10625         | CUSIP: G23296208<br>LEI: N/A | Long             | EC               | CORP              | GB        |    202598 | NS      | $6453000.16   | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| CORE NATURAL RESOURCES INC           | CORE NATURAL RESOURCES INC           | CUSIP: 218937100<br>LEI: N/A | Long             | EC               | CORP              | US        |    156285 | NS      | $13832785.35  | 0.75%             |  |  |  | No            | 1                  | On Loan: No      |
| CF Industries Holdings Inc           | CF Industries Holdings Inc           | CUSIP: 125269100<br>LEI: N/A | Long             | EC               | CORP              | US        |    156477 | NS      | $12101931.18  | 0.65%             |  |  |  | No            | 1                  | On Loan: No      |
| Graco Inc                            | Graco Inc                            | CUSIP: 384109104<br>LEI: N/A | Long             | EC               | CORP              | US        |    240212 | NS      | $19690177.64  | 1.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Graco Inc                            | Graco Inc                            | CUSIP: 384109104<br>LEI: N/A | Long             | EC               | CORP              | US        |    134522 | NS      | $11026768.34  | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| GALENICA AG                          | GALENICA AG                          | CUSIP: H85158113<br>LEI: N/A | Long             | EC               | CORP              | CH        |     23637 | NS      | $2913619.61   | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Landstar System Inc                  | Landstar System Inc                  | CUSIP: 515098101<br>LEI: N/A | Long             | EC               | CORP              | US        |     93567 | NS      | $13445577.90  | 0.73%             |  |  |  | No            | 1                  | On Loan: No      |
| LONDON STOCK EXCHANGE GROUP          | LONDON STOCK EXCHANGE GROUP          | CUSIP: G5689U103<br>LEI: N/A | Long             | EC               | CORP              | GB        |     21708 | NS      | $2618297.17   | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Lam Research Corp                    | Lam Research Corp                    | CUSIP: 512807306<br>LEI: N/A | Long             | EC               | CORP              | US        |     69854 | NS      | $11957607.72  | 0.65%             |  |  |  | No            | 1                  | On Loan: No      |
| LANTHEUS HOLDINGS INC                | LANTHEUS HOLDINGS INC                | CUSIP: 516544103<br>LEI: N/A | Long             | EC               | CORP              | US        |    209692 | NS      | $13955002.60  | 0.75%             |  |  |  | No            | 1                  | On Loan: No      |
| LINDE PLC                            | LINDE PLC                            | CUSIP: G54950103<br>LEI: N/A | Long             | EC               | CORP              | IE        |     62750 | NS      | $26755972.50  | 1.44%             |  |  |  | No            | 1                  | On Loan: No      |
| LANDBRIDGE CO LLC-A                  | LANDBRIDGE CO LLC-A                  | CUSIP: 514952100<br>LEI: N/A | Long             | EC               | CORP              | US        |    121328 | NS      | $5943858.72   | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| KERRY GROUP PLC-A                    | KERRY GROUP PLC-A                    | CUSIP: G52416107<br>LEI: N/A | Long             | EC               | CORP              | IE        |     31069 | NS      | $2846683.90   | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| KONINKLIJKE KPN NV EUR0.24           | KONINKLIJKE KPN NV EUR0.24           | CUSIP: N4297B146<br>LEI: N/A | Long             | EC               | CORP              | NL        |    897344 | NS      | $4191048.68   | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| KINSALE CAPITAL GROUP INC            | KINSALE CAPITAL GROUP INC            | CUSIP: 49714P108<br>LEI: N/A | Long             | EC               | CORP              | US        |     42000 | NS      | $16427040.00  | 0.89%             |  |  |  | No            | 1                  | On Loan: No      |
| KLA-Tencor Corp                      | KLA-Tencor Corp                      | CUSIP: 482480100<br>LEI: N/A | Long             | EC               | CORP              | US        |      7609 | NS      | $9245543.72   | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| KBC GROEP                            | KBC GROEP                            | CUSIP: B5337G162<br>LEI: N/A | Long             | EC               | CORP              | BE        |     67554 | NS      | $8828124.63   | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| INDUSTRIA DE DISENO TEXTIL           | INDUSTRIA DE DISENO TEXTIL           | CUSIP: E6282J125<br>LEI: N/A | Long             | EC               | CORP              | ES        |    110875 | NS      | $7337833.32   | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| INTEL CORP                           | INTEL CORP                           | CUSIP: 458140100<br>LEI: N/A | Long             | EC               | CORP              | US        |    180044 | NS      | $6643623.60   | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| INFORMA PLC                          | INFORMA PLC                          | CUSIP: G4770L106<br>LEI: N/A | Long             | EC               | CORP              | GB        |    542334 | NS      | $6459488.77   | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| IG GROUP HOLDING                     | IG GROUP HOLDING                     | CUSIP: G4753Q106<br>LEI: N/A | Long             | EC               | CORP              | GB        |    356643 | NS      | $6318856.71   | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| NOVARTIS AG CHF0.50(REGD)            | NOVARTIS AG CHF0.50(REGD)            | CUSIP: H5820Q150<br>LEI: N/A | Long             | EC               | CORP              | CH        |     47668 | NS      | $6591487.26   | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| NN GROUP                             | NN GROUP                             | CUSIP: N64038107<br>LEI: N/A | Long             | EC               | CORP              | NL        |    103133 | NS      | $7964246.94   | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| NICE SYS LTD SPONSORED ADR           | NICE SYS LTD SPONSORED ADR           | CUSIP: 653656108<br>LEI: N/A | Long             | EC               | CORP              | IL        |     23780 | NS      | $2688091.20   | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| MSCI INC COM                         | MSCI INC COM                         | CUSIP: 55354G100<br>LEI: N/A | Long             | EC               | CORP              | US        |     41946 | NS      | $24065678.58  | 1.30%             |  |  |  | No            | 1                  | On Loan: No      |
| MEDIBANK PRIVATE LTD                 | MEDIBANK PRIVATE LTD                 | CUSIP: Q5921Q109<br>LEI: N/A | Long             |  | PF                | AU        |   1293920 | NS      | $4136329.96   | 0.22%             |  |  |  | No            | N/A                | On Loan: No      |
| MARATHON PETROLEUM CORP              | MARATHON PETROLEUM CORP              | CUSIP: 56585A102<br>LEI: N/A | Long             | EC               | CORP              | US        |     54051 | NS      | $8790314.13   | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Molina Healthcare Inc                | Molina Healthcare Inc                | CUSIP: 60855R100<br>LEI: N/A | Long             | EC               | CORP              | US        |     44194 | NS      | $7669426.76   | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| MOODYS CORP COM                      | MOODYS CORP COM                      | CUSIP: 615369105<br>LEI: N/A | Long             | EC               | CORP              | US        |     34772 | NS      | $17763276.20  | 0.96%             |  |  |  | No            | 1                  | On Loan: No      |
| LYONDELLBASELL INDU-CL A             | LYONDELLBASELL INDU-CL A             | CUSIP: N53745100<br>LEI: N/A | Long             | EC               | CORP              | NL        |    311557 | NS      | $13490418.10  | 0.73%             |  |  |  | No            | 1                  | On Loan: No      |
| BK LEUMI LE ISRAEL ILS1              | BK LEUMI LE ISRAEL ILS1              | CUSIP: IT5541336<br>LEI: N/A | Long             | EC               | CORP              | IL        |    327539 | NS      | $7228986.64   | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| LOTTOMATICA GROUP SPA                | LOTTOMATICA GROUP SPA                | CUSIP: T64384109<br>LEI: N/A | Long             | EC               | CORP              | IT        |    177213 | NS      | $4662952.19   | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| ROCHE HLDGS AG GENUSSCHEINE NPV      | ROCHE HLDGS AG GENUSSCHEINE NPV      | CUSIP: H69293217<br>LEI: N/A | Long             | EC               | CORP              | CH        |     18762 | NS      | $7768973.51   | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| RIGHTMOVE                            | RIGHTMOVE                            | CUSIP: G7565D106<br>LEI: N/A | Long             | EC               | CORP              | GB        |    365899 | NS      | $2561588.81   | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| RLI CORP COM                         | RLI CORP COM                         | CUSIP: 749607107<br>LEI: N/A | Long             | EC               | CORP              | US        |    335500 | NS      | $21465290.00  | 1.16%             |  |  |  | No            | 1                  | On Loan: No      |
| RECKITT BENCKISER GROUP PLC          | RECKITT BENCKISER GROUP PLC          | CUSIP: G74079107<br>LEI: N/A | Long             | EC               | CORP              | GB        |     29676 | NS      | $2399829.59   | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| RIO TINTO LIMITED NPV                | RIO TINTO LIMITED NPV                | CUSIP: Q81437107<br>LEI: N/A | Long             | EC               | CORP              | AU        |     34847 | NS      | $3414466.47   | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| RELX PLC  GBP0.1444                  | RELX PLC  GBP0.1444                  | CUSIP: G7493L105<br>LEI: N/A | Long             | EC               | CORP              | GB        |    192194 | NS      | $7820343.31   | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Philip Morris International Inc      | Philip Morris International Inc      | CUSIP: 718172109<br>LEI: N/A | Long             | EC               | CORP              | US        |     21551 | NS      | $3456780.40   | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| OLD DOMINION FGHT LINES INC COM      | OLD DOMINION FGHT LINES INC COM      | CUSIP: 679580100<br>LEI: N/A | Long             | EC               | CORP              | US        |    260842 | NS      | $40900025.60  | 2.21%             |  |  |  | No            | 1                  | On Loan: No      |
| OCBC BANK                            | OCBC BANK                            | CUSIP: Y64248209<br>LEI: N/A | Long             | EC               | CORP              | SG        |    512500 | NS      | $7878481.40   | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| NATWEST GROUP PLC                    | NATWEST GROUP PLC                    | CUSIP: G6422B147<br>LEI: N/A | Long             | EC               | CORP              | GB        |    823134 | NS      | $7228762.34   | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| NVR INC COM                          | NVR INC COM                          | CUSIP: 62944T105<br>LEI: N/A | Long             | EC               | CORP              | US        |      3891 | NS      | $28376168.07  | 1.53%             |  |  |  | No            | 1                  | On Loan: No      |
| SALMAR ASA NOK0.25                   | SALMAR ASA NOK0.25                   | CUSIP: R7445C102<br>LEI: N/A | Long             | EC               | CORP              | NO        |     37059 | NS      | $2268768.40   | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| SAFRAN EUR0.20                       | SAFRAN EUR0.20                       | CUSIP: F4035A557<br>LEI: N/A | Long             | EC               | CORP              | FR        |     21523 | NS      | $7519018.21   | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| RYANAIR HOLDINGS PLC                 | RYANAIR HOLDINGS PLC                 | CUSIP: G7727C186<br>LEI: N/A | Long             | EC               | CORP              | IT        |    118591 | NS      | $4116485.44   | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| SIGNET JEWELERS LIMITED SHS          | SIGNET JEWELERS LIMITED SHS          | CUSIP: G81276100<br>LEI: N/A | Long             | EC               | CORP              | BM        |    140873 | NS      | $11675554.24  | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| SHELL PLC                            | SHELL PLC                            | CUSIP: G80827101<br>LEI: N/A | Long             | EC               | CORP              | GB        |    178430 | NS      | $6587149.02   | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| SAP SE                               | SAP SE                               | CUSIP: D66992104<br>LEI: N/A | Long             | EC               | CORP              | DE        |     38545 | NS      | $9433631.79   | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| TEXAS PACIFIC LAND CORP              | TEXAS PACIFIC LAND CORP              | CUSIP: 88262P102<br>LEI: N/A | Long             | EC               | CORP              | US        |     18894 | NS      | $5426734.68   | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| TEEKAY TANKERS LTD CL A              | TEEKAY TANKERS LTD CL A              | CUSIP: G8726X106<br>LEI: N/A | Long             | EC               | CORP              | MH        |    243690 | NS      | $13017919.80  | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| TELEDYNE TECHNOLOGIES INC            | TELEDYNE TECHNOLOGIES INC            | CUSIP: 879360105<br>LEI: N/A | Long             | EC               | CORP              | US        |     63651 | NS      | $32508475.23  | 1.75%             |  |  |  | No            | 1                  | On Loan: No      |
| TORONTO-DOMINION BANK                | TORONTO-DOMINION BANK                | CUSIP: 891160509<br>LEI: N/A | Long             | EC               | CORP              | CA        |     50022 | NS      | $4714985.36   | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| SCHNEIDER ELECTRIC EUR4.00           | SCHNEIDER ELECTRIC EUR4.00           | CUSIP: F86921107<br>LEI: N/A | Long             | EC               | CORP              | FR        |     29205 | NS      | $8058562.79   | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| SCORPIO TANKERS INC SHS              | SCORPIO TANKERS INC SHS              | CUSIP: Y7542C130<br>LEI: N/A | Long             | EC               | CORP              | MH        |    212916 | NS      | $10822520.28  | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| AUTO TRADER GROUP ORD GBP1.50        | AUTO TRADER GROUP ORD GBP1.50        | CUSIP: G06708104<br>LEI: N/A | Long             | EC               | CORP              | GB        |    287644 | NS      | $2272627.89   | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| ASML HOLDING NV EUR0.09 (POST SPLIT) | ASML HOLDING NV EUR0.09 (POST SPLIT) | CUSIP: N07059202<br>LEI: N/A | Long             | EC               | CORP              | NL        |      4889 | NS      | $5291582.99   | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| APPFOLIO INC - A                     | APPFOLIO INC - A                     | CUSIP: 03783C100<br>LEI: N/A | Long             | EC               | CORP              | US        |     16454 | NS      | $3828023.10   | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Applied Materials Inc                | Applied Materials Inc                | CUSIP: 038222105<br>LEI: N/A | Long             | EC               | CORP              | US        |     38580 | NS      | $9914674.20   | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| ARISTOCRAT LEISURE NPV               | ARISTOCRAT LEISURE NPV               | CUSIP: Q0521T108<br>LEI: N/A | Long             | EC               | CORP              | AU        |    134144 | NS      | $5208554.41   | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| AIB GROUP PLC                        | AIB GROUP PLC                        | CUSIP: G0R4HJ106<br>LEI: N/A | Long             | EC               | CORP              | IE        |    829313 | NS      | $8962386.46   | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| KONINKLIJKE AHOLD DELHAIZE N         | KONINKLIJKE AHOLD DELHAIZE N         | CUSIP: N0074E105<br>LEI: N/A | Long             | EC               | CORP              | NL        |     84229 | NS      | $3450094.24   | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| ARCH CAP GROUP LTD ORD               | ARCH CAP GROUP LTD ORD               | CUSIP: G0450A105<br>LEI: N/A | Long             | EC               | CORP              | BM        |    190000 | NS      | $18224800.00  | 0.98%             |  |  |  | No            | 1                  | On Loan: No      |
| ABB LTD-REG                          | ABB LTD-REG                          | CUSIP: H0010V101<br>LEI: N/A | Long             | EC               | CORP              | CH        |     83985 | NS      | $6275033.69   | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| MITSUI FUDOSAN CO NPV                | MITSUI FUDOSAN CO NPV                | CUSIP: J4509L101<br>LEI: N/A | Long             | EC               | CORP              | JP        |    630300 | NS      | $7161311.66   | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| SUMITOMO MITSUI FG NPV               | SUMITOMO MITSUI FG NPV               | CUSIP: J7771X109<br>LEI: N/A | Long             | EC               | CORP              | JP        |    172900 | NS      | $5561795.03   | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| MITSUBISHI UFJ FIN NPV               | MITSUBISHI UFJ FIN NPV               | CUSIP: J44497105<br>LEI: N/A | Long             | EC               | CORP              | JP        |    393700 | NS      | $6263123.61   | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| NIHON UNISYS LTD                     | NIHON UNISYS LTD                     | CUSIP: J51097103<br>LEI: N/A | Long             | EC               | CORP              | JP        |    138600 | NS      | $4788337.69   | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| HONDA MOTOR CO NPV                   | HONDA MOTOR CO NPV                   | CUSIP: J22302111<br>LEI: N/A | Long             | EC               | CORP              | JP        |    309300 | NS      | $3031617.64   | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| HKT TRUST AND HKT SHARE STAPLED UNIT | HKT TRUST AND HKT SHARE STAPLED UNIT | CUSIP: Y3R29Z107<br>LEI: N/A | Long             | EC               | CORP              | HK        |   2902000 | NS      | $4291774.17   | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| SONY CORP NPV                        | SONY CORP NPV                        | CUSIP: J76379106<br>LEI: N/A | Long             | EC               | CORP              | JP        |    251400 | NS      | $6455450.20   | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| ENEOS HOLDINGS INC                   | ENEOS HOLDINGS INC                   | CUSIP: J29699105<br>LEI: N/A | Long             | EC               | CORP              | JP        |    342100 | NS      | $2416595.62   | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| OBIC CO LTD                          | OBIC CO LTD                          | CUSIP: J5946V107<br>LEI: N/A | Long             | EC               | CORP              | JP        |    152400 | NS      | $4786630.08   | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| CHUGAI PHARMACEUTICAL CO LTD         | CHUGAI PHARMACEUTICAL CO LTD         | CUSIP: J06930101<br>LEI: N/A | Long             | EC               | CORP              | JP        |     54400 | NS      | $2861458.75   | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| BOC AVIATION LTD                     | BOC AVIATION LTD                     | CUSIP: Y09292106<br>LEI: N/A | Long             | EC               | CORP              | SG        |    612400 | NS      | $5728365.12   | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| TEMP HOLDINGS CO NPV                 | TEMP HOLDINGS CO NPV                 | CUSIP: J6367Q106<br>LEI: N/A | Long             | EC               | CORP              | JP        |   2839700 | NS      | $5265884.88   | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| AIA GROUP LTD USD1.00                | AIA GROUP LTD USD1.00                | CUSIP: Y002A1105<br>LEI: N/A | Long             | EC               | CORP              | HK        |    523400 | NS      | $5373343.78   | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| HWC Long Onshore Fund, LP            | HWC Long Onshore Fund, LP            | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        | 275805942 | OU      | $275805941.53 | 14.89%            |  |  |  | Yes           | N/A                | On Loan: No      |
| CONSTELLATION SOFTWARE INC COM       | CONSTELLATION SOFTWARE INC COM       | CUSIP: 21037X100<br>LEI: N/A | Long             | EC               | CORP              | CA        |      2169 | NS      | $5217674.58   | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| DILLARDS INC CL A                    | DILLARDS INC CL A                    | CUSIP: 254067101<br>LEI: N/A | Long             | EC               | CORP              | US        |     21560 | NS      | $13072690.40  | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |
| CANADIAN TIRE LTD CL A               | CANADIAN TIRE LTD CL A               | CUSIP: 136681202<br>LEI: N/A | Long             | EC               | CORP              | CA        |     36710 | NS      | $4652679.53   | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| CoStar Group Inc                     | CoStar Group Inc                     | CUSIP: 22160N109<br>LEI: N/A | Long             | EC               | CORP              | US        |    104713 | NS      | $7040902.12   | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Cisco Systems Inc                    | Cisco Systems Inc                    | CUSIP: 17275R102<br>LEI: N/A | Long             | EC               | CORP              | US        |    104076 | NS      | $8016974.28   | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| AXA                                  | AXA                                  | CUSIP: F06106102<br>LEI: N/A | Long             | EC               | CORP              | FR        |    155487 | NS      | $7481202.30   | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Copart Inc                           | Copart Inc                           | CUSIP: 217204106<br>LEI: N/A | Long             | EC               | CORP              | US        |    608933 | NS      | $23839726.95  | 1.29%             |  |  |  | No            | 1                  | On Loan: No      |
| FOX CORP - CLASS A                   | FOX CORP - CLASS A                   | CUSIP: 35137L105<br>LEI: N/A | Long             | EC               | CORP              | US        |    166849 | NS      | $12191656.43  | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| Fastenal Co                          | Fastenal Co                          | CUSIP: 311900104<br>LEI: N/A | Long             | EC               | CORP              | US        |    394585 | NS      | $15834696.05  | 0.85%             |  |  |  | No            | 1                  | On Loan: No      |
| EURONEXT EUR1.60                     | EURONEXT EUR1.60                     | CUSIP: N3113K397<br>LEI: N/A | Long             | EC               | CORP              | NL        |     48307 | NS      | $7263357.21   | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| ENEL SPA EUR1                        | ENEL SPA EUR1                        | CUSIP: T3679P115<br>LEI: N/A | Long             | EC               | CORP              | IT        |    716817 | NS      | $7474667.58   | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| ELEVANCE HEALTH INC                  | ELEVANCE HEALTH INC                  | CUSIP: 036752103<br>LEI: N/A | Long             | EC               | CORP              | US        |     32150 | NS      | $11270182.50  | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| HF SINCLAIR CORP                     | HF SINCLAIR CORP                     | CUSIP: 403949100<br>LEI: N/A | Long             | EC               | CORP              | US        |    150803 | NS      | $6949002.24   | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| VINCI SA                             | VINCI SA                             | CUSIP: F5879X108<br>LEI: N/A | Long             | EC               | CORP              | FR        |     30066 | NS      | $4239895.81   | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| BROWN & BROWN INC COM                | BROWN & BROWN INC COM                | CUSIP: 115236101<br>LEI: N/A | Long             | EC               | CORP              | US        |    311463 | NS      | $24823601.10  | 1.34%             |  |  |  | No            | 1                  | On Loan: No      |
| BUNZL ORD GBP0.32142857              | BUNZL ORD GBP0.32142857              | CUSIP: G16968110<br>LEI: N/A | Long             | EC               | CORP              | GB        |    104953 | NS      | $2935629.59   | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| BOOKING HOLDINGS INC                 | BOOKING HOLDINGS INC                 | CUSIP: 09857L108<br>LEI: N/A | Long             | EC               | CORP              | US        |       282 | NS      | $1510203.06   | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| BOOKING HOLDINGS INC                 | BOOKING HOLDINGS INC                 | CUSIP: 09857L108<br>LEI: N/A | Long             | EC               | CORP              | US        |      3054 | NS      | $16355177.82  | 0.88%             |  |  |  | No            | 1                  | On Loan: No      |
| BUCKLE INC COM                       | BUCKLE INC COM                       | CUSIP: 118440106<br>LEI: N/A | Long             | EC               | CORP              | US        |    133581 | NS      | $7135897.02   | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| BAWAG GROUP AG                       | BAWAG GROUP AG                       | CUSIP: A0997C107<br>LEI: N/A | Long             | EC               | CORP              | AT        |     39469 | NS      | $5980853.99   | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| BEAZLEY PLC                          | BEAZLEY PLC                          | CUSIP: 00BYQ0JC6<br>LEI: N/A | Long             | EC               | CORP              | GB        |    372794 | NS      | $4178989.61   | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| BAE SYSTEMS ORD GBP0.025             | BAE SYSTEMS ORD GBP0.025             | CUSIP: G06940103<br>LEI: N/A | Long             | EC               | CORP              | GB        |    409984 | NS      | $9467967.88   | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| IDEXX Laboratories Inc               | IDEXX Laboratories Inc               | CUSIP: 45168D104<br>LEI: N/A | Long             | EC               | CORP              | US        |     36611 | NS      | $24768439.83  | 1.34%             |  |  |  | No            | 1                  | On Loan: No      |
| INTERDIGITAL INC COM                 | INTERDIGITAL INC COM                 | CUSIP: 45867G101<br>LEI: N/A | Long             | EC               | CORP              | US        |     39709 | NS      | $12642551.42  | 0.68%             |  |  |  | No            | 1                  | On Loan: No      |
| HUMANA INC COM                       | HUMANA INC COM                       | CUSIP: 444859102<br>LEI: N/A | Long             | EC               | CORP              | US        |     34903 | NS      | $8939705.39   | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| HP INC COM                           | HP INC COM                           | CUSIP: 40434L105<br>LEI: N/A | Long             | EC               | CORP              | US        |    333119 | NS      | $7421891.32   | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| HALEON PLC                           | HALEON PLC                           | CUSIP: G4232K100<br>LEI: N/A | Long             | EC               | CORP              | GB        |    752148 | NS      | $3798235.93   | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| HINGHAM INSTN SVGS MASS COM          | HINGHAM INSTN SVGS MASS COM          | CUSIP: 433323102<br>LEI: N/A | Long             | EC               | CORP              | US        |     40816 | NS      | $11590111.36  | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| HEICO CORP NEW CL A                  | HEICO CORP NEW CL A                  | CUSIP: 422806208<br>LEI: N/A | Long             | EC               | CORP              | US        |    124278 | NS      | $31371505.66  | 1.69%             |  |  |  | No            | 1                  | On Loan: No      |
| SIMPSON MANUFACTURING CO INC COM     | SIMPSON MANUFACTURING CO INC COM     | CUSIP: 829073105<br>LEI: N/A | Long             | EC               | CORP              | US        |     85000 | NS      | $13724950.00  | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| WR Berkley Corp                      | WR Berkley Corp                      | CUSIP: 084423102<br>LEI: N/A | Long             | EC               | CORP              | US        |    100859 | NS      | $7072233.08   | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| WOLTERS KLUWER                       | WOLTERS KLUWER                       | CUSIP: N9643A197<br>LEI: N/A | Long             | EC               | CORP              | NL        |     33095 | NS      | $3434291.45   | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| WEATHERFORD INTERNATIONAL PL         | WEATHERFORD INTERNATIONAL PL         | CUSIP: G48833118<br>LEI: N/A | Long             | EC               | CORP              | IE        |    181266 | NS      | $14185877.16  | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| NORDEA BANK ABP                      | NORDEA BANK ABP                      | CUSIP: X5S8VL105<br>LEI: N/A | Long             | EC               | CORP              | FI        |    379660 | NS      | $7170045.71   | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| CANADIAN PAC RY LTD COM              | CANADIAN PAC RY LTD COM              | CUSIP: 13646K108<br>LEI: N/A | Long             | EC               | CORP              | CA        |    265258 | NS      | $19530946.54  | 1.05%             |  |  |  | No            | 1                  | On Loan: No      |
| FRESENIUS SE & CO KGAA               | FRESENIUS SE & CO KGAA               | CUSIP: 004352097<br>LEI: N/A | Long             | EC               | CORP              | DE        |     48306 | NS      | $2779311.50   | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| ROYAL BK CDA MONTREAL QUE COM        | ROYAL BK CDA MONTREAL QUE COM        | CUSIP: 780087102<br>LEI: N/A | Long             | EC               | CORP              | CA        |     20606 | NS      | $3513259.95   | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| SINGAPORE EXCHANGE NPV               | SINGAPORE EXCHANGE NPV               | CUSIP: Y79946102<br>LEI: N/A | Long             | EC               | CORP              | SG        |    239900 | NS      | $3165321.30   | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| STANTEC INC COM                      | STANTEC INC COM                      | CUSIP: 85472N109<br>LEI: N/A | Long             | EC               | CORP              | CA        |     67503 | NS      | $6370583.33   | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| TOTALENERGIES SE                     | TOTALENERGIES SE                     | CUSIP: F92124100<br>LEI: N/A | Long             | EC               | CORP              | FR        |     53478 | NS      | $3492120.31   | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| DESCARTES SYSTEMS GRP/THE            | DESCARTES SYSTEMS GRP/THE            | CUSIP: 249906108<br>LEI: N/A | Long             | EC               | CORP              | CA        |     15078 | NS      | $1321737.48   | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| BRENNTAG AG                          | BRENNTAG AG                          | CUSIP: D12459117<br>LEI: N/A | Long             | EC               | CORP              | GR        |     42729 | NS      | $2487547.56   | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| BRIT AMER TOBACCO                    | BRIT AMER TOBACCO                    | CUSIP: G1510J102<br>LEI: N/A | Long             | EC               | CORP              | GB        |    115148 | NS      | $6537775.15   | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| DANONE EUR0.25                       | DANONE EUR0.25                       | CUSIP: F12033134<br>LEI: N/A | Long             | EC               | CORP              | FR        |     46429 | NS      | $4187499.85   | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** BBR ALO Fund, LLC.

**Signature:** /s/ Barry M. Klayman

**Name of Signer:** Barry M. Klayman

**Title:** Principal Executive Officer