# EDGAR Filing Document

**Accession Number:** 0001420040
**File Stem:** 0000910472-25-005945
**Filing Date:** 2025-12
**Character Count:** 71802
**Document Hash:** 1ed4b9600b600cc3f1d0a2df1e0caa2b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-005945.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0000910472-25-005945

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Dunham Funds
- **CENTRAL INDEX KEY:** 0001420040

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22153
- **FILM NUMBER:** 251603389

**BUSINESS ADDRESS:**
- **STREET 1:** 6256 GREENWICH DRIVE
- **STREET 2:** SUITE 550
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92122
- **BUSINESS PHONE:** 858-964-0500

**MAIL ADDRESS:**
- **STREET 1:** 6256 GREENWICH DRIVE
- **STREET 2:** SUITE 550
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92122

## Series and Classes Contracts Data

### Dunham Small Cap Value Fund (Series ID: S000020974)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000059517 | Dunham Small Cap Value Fund Class A | DASVX           |
| C000059518 | Dunham Small Cap Value Fund Class C | DCSVX           |
| C000059519 | Dunham Small Cap Value Fund Class N | DNSVX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-22153

- **c. CIK number of Registrant:** 0001420040

- **d. LEI of Registrant:** 549300FI2C3SP4YCHL80

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

  - **Street Address 1:** 6256 Greenwich Dr

  - **City:** SAN DIEGO

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 92122

  - **Telephone number:** 858-964-0500

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

- **a. Name of Series:** Dunham Small Cap Value Fund

- **b. EDGAR series identifier (if any):** S000020974

- **c. LEI of Series:** 549300FUKK5THH5JHD83

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $95323089.51

**Total Liabilities:** $355288.75

**Net Assets:** $94967800.76

**Cash Not Reported:** $23736.29

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000059519 | 7.52%                | 0.95%                | -0.76%               |
| Class ID C000059518 | 7.46%                | 0.92%                | -0.91%               |
| Class ID C000059517 | 7.52%                | 0.98%                | -0.84%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $805159.69               | $6472149.67                                |
| Month 2  | $1554181.43              | $-527136.76                                |
| Month 3  | $2425417.85              | $-3164615.95                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Firstcash Holdings Inc                    | FIRSTCASH HOLDIN                     | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       847 | NS      | $134249.50    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| NWPX Infrastructure Inc.                  | NWPX INFRASTRUCT                     | CUSIP: 667746101<br>LEI: 54930056VW2CRCZ9RE54 | Long             | EC               | CORP              | US        |     11132 | NS      | $669701.12    | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Orion Group Holdings Inc                  | ORION GROUP HOLDINGS INC             | CUSIP: 68628V308<br>LEI: 549300KBVXPV9Q3CT222 | Long             | EC               | CORP              | US        |     43026 | NS      | $463390.02    | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| CNO Financial Group, Inc.                 | CNO FINANCIAL GR                     | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |     17385 | NS      | $695747.70    | 0.73%             |  |  |  | No            | 1                  | On Loan: No      |
| Expro Group Holdings NV                   | EXPRO GROUP HOLD                     | CUSIP: N3144W105<br>LEI: 724500LJYA8QIT73H017 | Long             | EC               | CORP              | NL        |     23234 | NS      | $315517.72    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Teekay Tankers Ltd.                       | TEEKAY TANK-CL A                     | CUSIP: G8726X106<br>LEI: 549300DE8ZAIYS2T6Q22 | Long             | EC               | CORP              | BM        |      9052 | NS      | $552172.00    | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Vivid Seats Inc                           | VIVID SEATS IN-A                     | CUSIP: 92854T209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6447 | NS      | $80007.27     | 0.08%             |  |  |  | No            | 1                  | On Loan: —       |
| Constellium SE                            | CONSTELLIUM SE                       | CUSIP: F21107101<br>LEI: 724500KRJEMC79KAAU28 | Long             | EC               | CORP              | FR        |     33832 | NS      | $532177.36    | 0.56%             |  |  |  | No            | 1                  | On Loan: No      |
| Mesa Laboratories Inc.                    | MESA LABS                            | CUSIP: 59064R109<br>LEI: 549300ZCG738WLX8ZW79 | Long             | EC               | CORP              | US        |      6225 | NS      | $447515.25    | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Sonoco Products Company                   | SONOCO PRODUCTS                      | CUSIP: 835495102<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | EC               | CORP              | US        |      5127 | NS      | $208002.39    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Star Bulk Carriers Corp.                  | STAR BULK CARRIE                     | CUSIP: Y8162K204<br>LEI: 549300SO3FMK7H6DDY54 | Long             | EC               | CORP              | MH        |     25651 | NS      | $482751.82    | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Brixmor Property Group Inc                | BRIXMOR PROPERTY                     | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |     33753 | NS      | $882978.48    | 0.93%             |  |  |  | No            | 1                  | On Loan: No      |
| Century Communities Inc                   | CENTURY COMMUNIT                     | CUSIP: 156504300<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | EC               | CORP              | US        |      4409 | NS      | $261894.60    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Liberty Energy Inc                        | LIBERTY ENERGY I                     | CUSIP: 53115L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22565 | NS      | $408652.15    | 0.43%             |  |  |  | No            | 1                  | On Loan: —       |
| Knight-Swift Transportation Holdings Inc. | KNIGHT-SWIFT TRA                     | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15728 | NS      | $709647.36    | 0.75%             |  |  |  | No            | 1                  | On Loan: No      |
| Stewart Information Services Corporation  | STEWART INFO SVC                     | CUSIP: 860372101<br>LEI: 529900TV1XI0PLKENU10 | Long             | EC               | CORP              | US        |      4930 | NS      | $336571.10    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Broadstone Net Lease Inc                  | BROADSTONE NET                       | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               | CORP              | US        |     30989 | NS      | $555322.88    | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Brilliant Earth Group Inc                 | BRILLIANT EARTH                      | CUSIP: 109504100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     79858 | NS      | $192457.78    | 0.20%             |  |  |  | No            | 1                  | On Loan: No      |
| Diodes Incorporated                       | DIODES INC                           | CUSIP: 254543101<br>LEI: 549300XP2X1ARVH3BX23 | Long             | EC               | CORP              | US        |      5495 | NS      | $293213.20    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Hillman Solutions Corp                    | HILLMAN SOLUTION                     | CUSIP: 431636109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55024 | NS      | $507321.28    | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Louisiana Pacific Corporation             | LOUISIANA-PACIFI                     | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |      2566 | NS      | $223524.26    | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Bowhead Specialty Holdings Inc            | BOWHEAD SPECIALT                     | CUSIP: 10240L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17704 | NS      | $424187.84    | 0.45%             |  |  |  | No            | 1                  | On Loan: No      |
| Wyndham Hotels & Resorts Inc              | WYNDHAM HOTELS &                     | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |      2925 | NS      | $214782.75    | 0.23%             |  |  |  | No            | 1                  | On Loan: —       |
| Teleflex Incorporated                     | TELEFLEX INC                         | CUSIP: 879369106<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | EC               | CORP              | US        |      8797 | NS      | $1094962.59   | 1.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Arcosa Inc                                | ARCOSA INC                           | CUSIP: 039653100<br>LEI: 549300WFHLTCZV7D6V29 | Long             | EC               | CORP              | US        |      4672 | NS      | $476544.00    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Portland General Electric Company         | PORTLAND GENERAL                     | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |     11660 | NS      | $532628.80    | 0.56%             |  |  |  | No            | 1                  | On Loan: No      |
| Prosperity Bancshares Inc                 | PROSPERITY BNCSH                     | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15473 | NS      | $1018432.86   | 1.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Horizon Bancorp Inc.                      | HORIZON BANCORP                      | CUSIP: 440407104<br>LEI: 549300U2OQ2EIT5MXG39 | Long             | EC               | CORP              | US        |     32053 | NS      | $500026.80    | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Bowman Consulting Group Ltd               | BOWMAN CONSULTIN                     | CUSIP: 103002101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11335 | NS      | $490692.15    | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| MYR Grp Inc                               | MYR GROUP INC/DE                     | CUSIP: 55405W104<br>LEI: 529900G1IMMZHOQ17I54 | Long             | EC               | CORP              | US        |      2455 | NS      | $534453.50    | 0.56%             |  |  |  | No            | 1                  | On Loan: No      |
| Commercial Metals Company                 | COMMERCIAL METAL                     | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |      8041 | NS      | $477313.76    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Fox Factory Holding Corporation           | FOX FACTORY HOLD                     | CUSIP: 35138V102<br>LEI: 529900GE1HSV0617R721 | Long             | EC               | CORP              | US        |     10090 | NS      | $223089.90    | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Wesbanco Inc                              | WESBANCO INC                         | CUSIP: 950810101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20068 | NS      | $604046.80    | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| ADT Inc                                   | ADT INC                              | CUSIP: 00090Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     48504 | NS      | $428775.36    | 0.45%             |  |  |  | No            | 1                  | On Loan: No      |
| Upland Software Inc                       | UPLAND SOFTWARE                      | CUSIP: 91544A109<br>LEI: 549300NS277POYJ63W89 | Long             | EC               | CORP              | US        |     50886 | NS      | $105842.88    | 0.11%             |  |  |  | No            | 1                  | On Loan: No      |
| AMN Healthcare Services Inc               | AMN HEALTHCARE                       | CUSIP: 001744101<br>LEI: 529900W3ARRTCNFH2I39 | Long             | EC               | CORP              | US        |     20600 | NS      | $405614.00    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Ardmore Shipping Corp.                    | ARDMORE SHIPPING                     | CUSIP: Y0207T100<br>LEI: 549300J8HD7K6BHD8O28 | Long             | EC               | CORP              | MH        |     58462 | NS      | $736036.58    | 0.78%             |  |  |  | No            | 1                  | On Loan: No      |
| Cytek Biosciences Inc                     | CYTEK BIOSCIENCE                     | CUSIP: 23285D109<br>LEI: 549300K2J28BOC6FBO89 | Long             | EC               | CORP              | US        |     37183 | NS      | $145013.70    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Crane NXT Co                              | CRANE NXT CO                         | CUSIP: 224441105<br>LEI: 549300EXNPSXEWUD3N21 | Long             | EC               | CORP              | US        |     10503 | NS      | $664314.75    | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| National Bank Holdings Corp               | NATIONAL-CL A                        | CUSIP: 633707104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17129 | NS      | $610820.14    | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| Tutor Perini Corporation                  | TUTOR PERINI COR                     | CUSIP: 901109108<br>LEI: 549300FHXYVPW8LJ6D98 | Long             | EC               | CORP              | US        |      8989 | NS      | $605499.04    | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| OFG Bancorp                               | OFG BANCORP                          | CUSIP: 67103X102<br>LEI: 549300Q4QEXJ37LEXQ06 | Long             | EC               | CORP              | PR        |     10556 | NS      | $408094.96    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Vtex                                      | VTEX -CLASS A                        | CUSIP: G9470A102<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     75063 | NS      | $337032.87    | 0.35%             |  |  |  | No            | 1                  | On Loan: —       |
| The Hanover Insurance Group, Inc.         | HANOVER INSURANC                     | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |      2049 | NS      | $350133.12    | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| TETRA Technologies Inc.                   | TETRA TECHNOLOGI                     | CUSIP: 88162F105<br>LEI: 549300T5W131705EK832 | Long             | EC               | CORP              | US        |    112794 | NS      | $796325.64    | 0.84%             |  |  |  | No            | 1                  | On Loan: No      |
| Matrix Service Co.                        | MATRIX SERVICE                       | CUSIP: 576853105<br>LEI: 529900VYBKSX6HD2YW58 | Long             | EC               | CORP              | US        |     48763 | NS      | $732420.26    | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| Algoma Steel Group Inc                    | ALGOMA STEEL GRO                     | CUSIP: 015658107<br>LEI: 549300Q5EU337A1XCX27 | Long             | EC               | CORP              | CA        |     71045 | NS      | $296257.65    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Atlas Energy Solutions Inc.               | ATLAS ENERGY SOL                     | CUSIP: 642045108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17597 | NS      | $217850.86    | 0.23%             |  |  |  | No            | 1                  | On Loan: —       |
| Frontier Group Holdings Inc               | FRONTIER GROUP H                     | CUSIP: 35909R108<br>LEI: 549300DT3Y2BHO6G7T02 | Long             | EC               | CORP              | US        |     25885 | NS      | $99916.10     | 0.11%             |  |  |  | No            | 1                  | On Loan: —       |
| TrueCar Inc.                              | TRUECAR INC                          | CUSIP: 89785L107<br>LEI: 549300KK16488YXWVE52 | Long             | EC               | CORP              | US        |     96659 | NS      | $212649.80    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Aveanna Healthcare Holdings Inc           | AVEANNA HEALTHCA                     | CUSIP: 05356F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45215 | NS      | $409195.75    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Teradata Corp                             | TERADATA CORP                        | CUSIP: 88076W103<br>LEI: 549300JU9SOUHV4U4R71 | Long             | EC               | CORP              | US        |     34247 | NS      | $714049.95    | 0.75%             |  |  |  | No            | 1                  | On Loan: No      |
| EZCORP Inc.                               | EZCORP INC-A                         | CUSIP: 302301106<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | EC               | CORP              | US        |      6483 | NS      | $118314.75    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Reservoir Media Inc.                      | RESERVOIR MEDIA                      | CUSIP: 76119X105<br>LEI: 549300PHPDQ9M9QSNU18 | Long             | EC               | CORP              | US        |     92542 | NS      | $703319.20    | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| Grocery Outlet Holding Corp.              | GROCERY OUTLET                       | CUSIP: 39874R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28036 | NS      | $381569.96    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Orthofix Medical Inc                      | ORTHOFIX MEDICAL                     | CUSIP: 68752M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34660 | NS      | $535150.40    | 0.56%             |  |  |  | No            | 1                  | On Loan: No      |
| Legacy Education Inc                      | LEGACY EDUCATION                     | CUSIP: 52474R207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24607 | NS      | $222201.21    | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Idacorp Inc                               | IDACORP INC                          | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |      2553 | NS      | $329388.06    | 0.35%             |  |  |  | No            | 1                  | On Loan: —       |
| Allient Inc                               | ALLIENT INC                          | CUSIP: 019330109<br>LEI: 549300I2LHAWYGNBPM97 | Long             | EC               | CORP              | US        |      4440 | NS      | $242779.20    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Innoviva Inc                              | INNOVIVA INC                         | CUSIP: 45781M101<br>LEI: 549300ACOX4QTBES6535 | Long             | EC               | CORP              | US        |     29782 | NS      | $542032.40    | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Alpha & Omega Semiconductor Ltd.          | ALPHA & OMEGA SE                     | CUSIP: G6331P104<br>LEI: 5493001FE7J03YOV2V35 | Long             | EC               | CORP              | BM        |     21413 | NS      | $600848.78    | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| Nomad Foods Ltd.                          | NOMAD FOODS                          | CUSIP: G6564A105<br>LEI: 5493000ZZ1837DS2SI43 | Long             | EC               | CORP              | VG        |     24200 | NS      | $273460.00    | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Priority Technology Holdings Inc.         | PRIORITY TECHNOL                     | CUSIP: 74275G107<br>LEI: 549300ZS6DXD7ROBKB40 | Long             | EC               | CORP              | US        |     38918 | NS      | $270869.28    | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Northpointe Bancshares Inc.               | NORTHPOINTE BANC                     | CUSIP: 66661N886<br>LEI: 549300EYMKMD4WKEKP72 | Long             | EC               | CORP              | US        |     40943 | NS      | $648946.55    | 0.68%             |  |  |  | No            | 1                  | On Loan: No      |
| GXO Logistics Inc.                        | GXO LOGISTIC                         | CUSIP: 36262G101<br>LEI: 5493007CNWMXN78JRN66 | Long             | EC               | CORP              | US        |     11848 | NS      | $665976.08    | 0.70%             |  |  |  | No            | 1                  | On Loan: —       |
| Ferroglobe PLC                            | FERROGLOBE PLC                       | CUSIP: G33856108<br>LEI: 2138005GCFJACFTZUD90 | Long             | EC               | CORP              | GB        |    108850 | NS      | $527922.50    | 0.56%             |  |  |  | No            | 1                  | On Loan: —       |
| Cargurus Inc                              | CARGURUS INC                         | CUSIP: 141788109<br>LEI: 54930027BKQN6B7X7G78 | Long             | EC               | CORP              | US        |      6024 | NS      | $211562.88    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Newmark Group Inc                         | NEWMARK GROUP-A                      | CUSIP: 65158N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20541 | NS      | $366246.03    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| NCR Voyix Corporation                     | NCR VOYIX CORP                       | CUSIP: 62886E108<br>LEI: 549300YKTY8JX1DV2R67 | Long             | EC               | CORP              | US        |     82159 | NS      | $937434.19    | 0.99%             |  |  |  | No            | 1                  | On Loan: No      |
| Haemonetics Corp                          | HAEMONETICS CORP                     | CUSIP: 405024100<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | EC               | CORP              | US        |      5926 | NS      | $296359.26    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Academy Sports and Outdoors Inc           | ACADEMY SPORTS &                     | CUSIP: 00402L107<br>LEI: 529900HST589BD301M91 | Long             | EC               | CORP              | US        |      6491 | NS      | $310853.99    | 0.33%             |  |  |  | No            | 1                  | On Loan: —       |
| Popular, Inc.                             | POPULAR INC                          | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |      3595 | NS      | $400734.65    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Generac Holdings Inc.                     | GENERAC HOLDINGS                     | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |      1240 | NS      | $208344.80    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Warrior Met Coal Inc                      | WARRIOR MET COAL                     | CUSIP: 93627C101<br>LEI: 549300152B1S9YKBYV79 | Long             | EC               | CORP              | US        |      7070 | NS      | $479628.80    | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Regal Rexnord Corporation                 | REGAL REXNORD CO                     | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |      3152 | NS      | $444085.28    | 0.47%             |  |  |  | No            | 1                  | On Loan: —       |
| Coherent Corp                             | COHERENT CORP                        | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |      1711 | NS      | $225783.56    | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| AerSale Corporation                       | AERSALE CORP                         | CUSIP: 00810F106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25847 | NS      | $191784.74    | 0.20%             |  |  |  | No            | 1                  | On Loan: No      |
| Esquire Financial Holdings Inc            | ESQUIRE FINANCIA                     | CUSIP: 29667J101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3622 | NS      | $339743.60    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Kodiak Gas Services Inc.                  | KODIAK GAS SERVI                     | CUSIP: 50012A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7690 | NS      | $283607.20    | 0.30%             |  |  |  | No            | 1                  | On Loan: —       |
| Consensus Cloud Solutions Inc             | CONSENSUS CLOUD                      | CUSIP: 20848V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14169 | NS      | $415435.08    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| RGC Resources Inc                         | RGC RESOURCES                        | CUSIP: 74955L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14486 | NS      | $300005.06    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| National Vision Holdings Inc              | NATIONAL VISION                      | CUSIP: 63845R107<br>LEI: 549300JHURCBLI5ROA42 | Long             | EC               | CORP              | US        |     30381 | NS      | $782310.75    | 0.82%             |  |  |  | No            | 1                  | On Loan: —       |
| The Timken Company                        | TIMKEN CO                            | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |      3805 | NS      | $298730.55    | 0.31%             |  |  |  | No            | 1                  | On Loan: —       |
| American Integrity Insurance Group Inc.   | AMERICAN INTEGRI                     | CUSIP: 026948109<br>LEI: 529900Y2VOV2LYV4OK68 | Long             | EC               | CORP              | US        |     26573 | NS      | $633234.59    | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| Central Pacific Financial Corp.           | CENTRAL PACIFIC                      | CUSIP: 154760409<br>LEI: 549300W3YEAOZ4KGG849 | Long             | EC               | CORP              | US        |     17237 | NS      | $491426.87    | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Tiptree Inc.                              | TIPTREE INC                          | CUSIP: 88822Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15569 | NS      | $275726.99    | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| National Energy Services Reunited Corp.   | NATIONAL ENERGY                      | CUSIP: G6375R107<br>LEI: N/A                  | Long             | EC               | CORP              | VG        |     76914 | NS      | $970654.68    | 1.02%             |  |  |  | No            | 1                  | On Loan: —       |
| Spire Inc                                 | SPIRE INC                            | CUSIP: 84857L101<br>LEI: 549300NXSY15DRY2R511 | Long             | EC               | CORP              | US        |      6825 | NS      | $589680.00    | 0.62%             |  |  |  | No            | 1                  | On Loan: —       |
| Custom Truck One Source Inc               | CUSTOM TRUCK ONE                     | CUSIP: 23204X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    108252 | NS      | $637604.28    | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| Cars.com Inc                              | CARS.COM INC                         | CUSIP: 14575E105<br>LEI: 5493002G6J07LNGX4M98 | Long             | EC               | CORP              | US        |     33579 | NS      | $360638.46    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Halozyme Therapeutics Inc                 | HALOZYME THERAPE                     | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |      4407 | NS      | $287292.33    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| UMH Properties Inc                        | UMH PROPERTIES I                     | CUSIP: 903002103<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EC               | CORP              | US        |     35175 | NS      | $511444.50    | 0.54%             |  |  |  | No            | 1                  | On Loan: —       |
| Kemper Corporation                        | KEMPER CORP                          | CUSIP: 488401100<br>LEI: 549300FNI1JKTRY2PV09 | Long             | EC               | CORP              | US        |      7056 | NS      | $317449.44    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Getty Realty Corp                         | GETTY REALTY                         | CUSIP: 374297109<br>LEI: 2549000P1W5SFJWCNP90 | Long             | EC               | CORP              | US        |     27269 | NS      | $747988.67    | 0.79%             |  |  |  | No            | 1                  | On Loan: No      |
| Excelerate Energy Inc.                    | EXCELERATE ENE-A                     | CUSIP: 30069T101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4183 | NS      | $108381.53    | 0.11%             |  |  |  | No            | 1                  | On Loan: No      |
| The Manitowoc Company, Inc.               | MANITOWOC CO                         | CUSIP: 563571405<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | EC               | CORP              | US        |     25122 | NS      | $255490.74    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Viper Energy Inc.                         | VIPER ENERGY I-A                     | CUSIP: 64361Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8306 | NS      | $311973.36    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Kaltura Inc                               | KALTURA INC                          | CUSIP: 483467106<br>LEI: 254900WYME0NSA8DVA41 | Long             | EC               | CORP              | US        |    269570 | NS      | $417833.50    | 0.44%             |  |  |  | No            | 1                  | On Loan: —       |
| NPK International Inc.                    | NPK INTERNATIONA                     | CUSIP: 651718504<br>LEI: 54930073OHWDQW4DJN26 | Long             | EC               | CORP              | US        |     59013 | NS      | $725859.90    | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| ABM Industries Inc.                       | ABM INDUSTRIES                       | CUSIP: 000957100<br>LEI: QF02R89VEIOROM77J447 | Long             | EC               | CORP              | US        |     15044 | NS      | $646892.00    | 0.68%             |  |  |  | No            | 1                  | On Loan: No      |
| Semtech Corporation                       | SEMTECH CORP                         | CUSIP: 816850101<br>LEI: 549300J7WUY317SW6O61 | Long             | EC               | CORP              | US        |      4322 | NS      | $293290.92    | 0.31%             |  |  |  | No            | 1                  | On Loan: —       |
| Freshpet Inc                              | FRESHPET INC                         | CUSIP: 358039105<br>LEI: 549300S4ZK8ZQ6HNPN59 | Long             | EC               | CORP              | US        |      2287 | NS      | $112543.27    | 0.12%             |  |  |  | No            | 1                  | On Loan: —       |
| SLM Corp.                                 | SLM CORP                             | CUSIP: 78442P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27834 | NS      | $747342.90    | 0.79%             |  |  |  | No            | 1                  | On Loan: No      |
| Clarus Corp.                              | CLARUS CORP                          | CUSIP: 18270P109<br>LEI: 549300PKSLI6PT0ULL72 | Long             | EC               | CORP              | US        |    107325 | NS      | $358465.50    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Holley Inc                                | HOLLEY INC                           | CUSIP: 43538H103<br>LEI: 254900EEM9JI9G1A4D88 | Long             | EC               | CORP              | US        |    202167 | NS      | $580219.29    | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| Denny's Corp.                             | DENNY'S CORP                         | CUSIP: 24869P104<br>LEI: 54930037V56XOULXM917 | Long             | EC               | CORP              | US        |     87734 | NS      | $343039.94    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| PTC Therapeutics, Inc.                    | PTC THERAPEUTICS                     | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |      7445 | NS      | $508567.95    | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Thyssenkrupp AG                           | thyssenkrupp AG                      | CUSIP: D8398Q119<br>LEI: 549300UDG16DOYUPR330 | Long             | EC               | CORP              | DE        |     60247 | NS      | $630319.04    | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| Radiant Logistics Inc.                    | RADIANT LOGISTIC                     | CUSIP: 75025X100<br>LEI: 549300HWCW2HBOG4GN20 | Long             | EC               | CORP              | US        |    106949 | NS      | $647041.45    | 0.68%             |  |  |  | No            | 1                  | On Loan: No      |
| Alcoa Corporation                         | ALCOA CORP                           | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |      9411 | NS      | $346230.69    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Taseko Mines Limited                      | TASEKO MINES                         | CUSIP: 876511106<br>LEI: 549300XKUO1JSLU7KX54 | Long             | EC               | CORP              | CA        |     98419 | NS      | $445838.07    | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| OceanFirst Financial Corp.                | OCEANFIRST FINL                      | CUSIP: 675234108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23012 | NS      | $418358.16    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Capstone Copper Corp                      | CAPSTONE COPPER                      | CUSIP: 14071L108<br>LEI: 549300III6KGKKC42W63 | Long             | EC               | CORP              | CA        |     55939 | NS      | $499344.96    | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| 8X8 Inc.                                  | 8X8 INC                              | CUSIP: 282914100<br>LEI: 254900XWSOC5U1BRW939 | Long             | EC               | CORP              | US        |    166451 | NS      | $306269.84    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Legacy Housing Corp.                      | LEGACY HOUSING C                     | CUSIP: 52472M101<br>LEI: V6WE5M18QYITU8L1QF76 | Long             | EC               | CORP              | US        |     24924 | NS      | $559668.42    | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| BKV Corporation                           | BKV CORPORATION                      | CUSIP: 05603J108<br>LEI: 549300S3T4Z01TRFU656 | Long             | EC               | CORP              | US        |     34038 | NS      | $802956.42    | 0.85%             |  |  |  | No            | 1                  | On Loan: No      |
| V2X Inc                                   | V2X INC                              | CUSIP: 92242T101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12545 | NS      | $716194.05    | 0.75%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Water Solutions Inc                | SELECT WATER SOL                     | CUSIP: 81617J301<br>LEI: 54930094OK8LA3QDW486 | Long             | EC               | CORP              | US        |     17491 | NS      | $202195.96    | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| IAC Inc                                   | IAC INC                              | CUSIP: 44891N208<br>LEI: 549300TO56L57RP6P031 | Long             | EC               | CORP              | US        |      9662 | NS      | $311309.64    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| CECO Environmental Corp.                  | CECO ENVIRONMNTL                     | CUSIP: 125141101<br>LEI: 5493002CZCTL4HGLIY91 | Long             | EC               | CORP              | US        |      9039 | NS      | $441916.71    | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Enovis Corporation                        | ENOVIS CORP                          | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Long             | EC               | CORP              | US        |     26116 | NS      | $815863.84    | 0.86%             |  |  |  | No            | 1                  | On Loan: —       |
| BellRing Intermediate Holdings Inc.       | BELLRING BRANDS                      | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |      6661 | NS      | $200695.93    | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Perella Weinberg Partners                 | PERELLA WEINBERG                     | CUSIP: 71367G102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22403 | NS      | $418488.04    | 0.44%             |  |  |  | No            | 1                  | On Loan: —       |
| CTO Realty Growth Inc New                 | CTO REALTY GROWT                     | CUSIP: 22948Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28227 | NS      | $470826.36    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| DHT Holdings Inc.                         | DHT HOLDINGS INC                     | CUSIP: Y2065G121<br>LEI: 549300SMD6IVZYT74K40 | Long             | EC               | CORP              | MH        |     32607 | NS      | $433020.96    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Stoneridge Inc.                           | STONERIDGE INC                       | CUSIP: 86183P102<br>LEI: PNBCIH9LE7WI83VJIF08 | Long             | EC               | CORP              | US        |     78852 | NS      | $536982.12    | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Gibraltar Industries, Inc.                | GIBRALTAR INDUST                     | CUSIP: 374689107<br>LEI: 549300AE5O3GN0YBLM57 | Long             | EC               | CORP              | US        |      4593 | NS      | $286557.27    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Motorcar Parts of America Inc.            | MOTORCAR PARTS                       | CUSIP: 620071100<br>LEI: 549300AG4610OSV3H429 | Long             | EC               | CORP              | US        |     20378 | NS      | $347648.68    | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| HUB Group Inc                             | HUB GROUP-A                          | CUSIP: 443320106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9260 | NS      | $341045.80    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Hallador Energy Co                        | HALLADOR ENERGY CO                   | CUSIP: 40609P105<br>LEI: 254900GKEQRHOI2SSC19 | Long             | EC               | CORP              | US        |      9584 | NS      | $207301.92    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Under Armour, Inc.                        | UNDER ARMOUR-A                       | CUSIP: 904311107<br>LEI: 549300D4549QKWETZ406 | Long             | EC               | CORP              | US        |     47193 | NS      | $217559.73    | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Gentherm Inc                              | GENTHERM INC                         | CUSIP: 37253A103<br>LEI: HKM6YX1U5JS60TCUB219 | Long             | EC               | CORP              | US        |      8657 | NS      | $318577.60    | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| NETSTREIT Corp.                           | NETSTREIT CORP                       | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               | CORP              | US        |     27016 | NS      | $503037.92    | 0.53%             |  |  |  | No            | 1                  | On Loan: —       |
| Advance Auto Parts Inc.                   | ADVANCE AUTO PAR                     | CUSIP: 00751Y106<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | EC               | CORP              | US        |      5793 | NS      | $273024.09    | 0.29%             |  |  |  | No            | 1                  | On Loan: —       |
| N/A                                       | MOUNT VERNON LIQUID ASSETS PORTFOLIO | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |         0 | NS      | $0.00         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Antero Resources Corporation              | ANTERO RESOURCES                     | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |     10275 | NS      | $317600.25    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Dime Community Bancshares Inc.            | DIME COMMUNITY B                     | CUSIP: 25432X102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18615 | NS      | $488643.75    | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Phreesia Inc                              | PHREESIA INC                         | CUSIP: 71944F106<br>LEI: 5493000HHF8NU4QOCG53 | Long             | EC               | CORP              | US        |     19308 | NS      | $437133.12    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Radcom Ltd.                               | RADCOM LTD                           | CUSIP: M81865111<br>LEI: 529900YOUOKNMG7QW685 | Long             | EC               | CORP              | IL        |     18943 | NS      | $260466.25    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Olaplex Holdings Inc                      | OLAPLEX HOLDINGS                     | CUSIP: 679369108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100283 | NS      | $104294.32    | 0.11%             |  |  |  | No            | 1                  | On Loan: No      |
| First Bancorp Puerto Rico                 | FIRST BANCORP PR                     | CUSIP: 318672706<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |     27494 | NS      | $535858.06    | 0.56%             |  |  |  | No            | 1                  | On Loan: —       |
| Capital Bancorp Inc.                      | CAPITAL BANCORP                      | CUSIP: 139737100<br>LEI: 549300LQKYGWQ7VP0C75 | Long             | EC               | CORP              | US        |     25974 | NS      | $721947.33    | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| Infinity Natural Resources Inc.           | INFINITY NATUR-A                     | CUSIP: 456941103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39801 | NS      | $456915.48    | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Maximus Inc                               | MAXIMUS INC                          | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |      9507 | NS      | $790221.84    | 0.83%             |  |  |  | No            | 1                  | On Loan: No      |
| Quipt Home Medical Corp                   | QUIPT HOME MEDIC                     | CUSIP: 74880P104<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    104643 | NS      | $256375.35    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Century Aluminum Company                  | CENTURY ALUMINUM                     | CUSIP: 156431108<br>LEI: 549300U5ODNGEYWKSW73 | Long             | EC               | CORP              | US        |     19347 | NS      | $573058.14    | 0.60%             |  |  |  | No            | 1                  | On Loan: —       |
| Northeast Bank                            | NORTHEAST BANK                       | CUSIP: 66405S100<br>LEI: 549300F0LV9TSW34E306 | Long             | EC               | CORP              | US        |      9229 | NS      | $796278.12    | 0.84%             |  |  |  | No            | 1                  | On Loan: No      |
| Thermon Group Holdings Inc                | THERMON GROUP HO                     | CUSIP: 88362T103<br>LEI: 529900ZNZBBLDE77MZ38 | Long             | EC               | CORP              | US        |     16288 | NS      | $467954.24    | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| First Advantage Corp New                  | FIRST ADVANTAGE                      | CUSIP: 31846B108<br>LEI: 549300RNJ0PXU8FP7D06 | Long             | EC               | CORP              | US        |     15439 | NS      | $194994.57    | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| KRONOS Worldwide Inc.                     | KRONOS WORLDWIDE                     | CUSIP: 50105F105<br>LEI: 549300OBZ34C65APL277 | Long             | EC               | CORP              | US        |     49917 | NS      | $245591.64    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Ashland Inc.                              | ASHLAND INC                          | CUSIP: 044186104<br>LEI: 529900E4L9R04SB8HB11 | Long             | EC               | CORP              | US        |      8591 | NS      | $420099.90    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Natural Gas Services Group Inc.           | NATURAL GAS SERV                     | CUSIP: 63886Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14305 | NS      | $398251.20    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Helios Technologies Inc                   | HELIOS TECHNOLOGIES INC              | CUSIP: 42328H109<br>LEI: 5493000BCJSMIDRNTI78 | Long             | EC               | CORP              | US        |      7071 | NS      | $391450.56    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Hudson Technologes Inc                    | HUDSON TECH                          | CUSIP: 444144109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23876 | NS      | $216674.70    | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Monro Inc                                 | MONRO INC                            | CUSIP: 610236101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13023 | NS      | $190786.95    | 0.20%             |  |  |  | No            | 1                  | On Loan: No      |
| Sun Country Airlines Holdings Inc.        | SUN COUNTRY HOLD                     | CUSIP: 866683105<br>LEI: 549300MOHOJN9GH0NJ48 | Long             | EC               | CORP              | US        |     60773 | NS      | $746292.44    | 0.79%             |  |  |  | No            | 1                  | On Loan: No      |
| Black Hills Corporation                   | BLACK HILLS CORP                     | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |      8948 | NS      | $567571.64    | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| Fidelity Colchester Street Trust          | FID-MM GOVT-I                        | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |   4390441 | PA      | $4390441.18   | 4.62%             |  |  |  | No            | 1                  | On Loan: No      |
| Enterprise Financial Services Corp.       | ENTERPRISE FINAN                     | CUSIP: 293712105<br>LEI: 5493001XTU5DLD632129 | Long             | EC               | CORP              | US        |     16548 | NS      | $866618.76    | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Rayonier Advanced Materials Inc           | RAYONIER ADV                         | CUSIP: 75508B104<br>LEI: 54930053QJ7OUGZG4F72 | Long             | EC               | CORP              | US        |     45783 | NS      | $318191.85    | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Capital City Bank Group Inc.              | CAP CITY BANK                        | CUSIP: 139674105<br>LEI: 254900NVLVUJQZKTQE82 | Long             | EC               | CORP              | US        |     14200 | NS      | $552380.00    | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Titan Machinery Inc.                      | TITAN MACHINERY                      | CUSIP: 88830R101<br>LEI: 549300835ZM8G0BT5C94 | Long             | EC               | CORP              | US        |     13892 | NS      | $227828.80    | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Covenant Logistics Group Inc.             | COVENANT LOGISTI                     | CUSIP: 22284P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36472 | NS      | $735640.24    | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| Proficient Auto Logistics Inc             | PROFICIENT AUTO                      | CUSIP: 74317M104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     80279 | NS      | $600486.92    | 0.63%             |  |  |  | No            | 1                  | On Loan: —       |
| Ooma Inc                                  | OOMA INC                             | CUSIP: 683416101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30362 | NS      | $340965.26    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Primerica, Inc.                           | PRIMERICA INC                        | CUSIP: 74164M108<br>LEI: 254900621R686KJR7022 | Long             | EC               | CORP              | US        |      1699 | NS      | $441519.13    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Huntsman Corporation                      | HUNTSMAN CORP                        | CUSIP: 447011107<br>LEI: 5299000V56320A7RIQ67 | Long             | EC               | CORP              | US        |     11474 | NS      | $95004.72     | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Federal Agricultural Mortgage Corporation | FED AGRI MTG-C                       | CUSIP: 313148306<br>LEI: 549300MS654K78GYF580 | Long             | EC               | USGA              | US        |      3046 | NS      | $483217.44    | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| BrightView Holdings Inc.                  | BRIGHTVIEW HOLDI                     | CUSIP: 10948C107<br>LEI: 549300F8QN8YHVI7L866 | Long             | EC               | CORP              | US        |     56821 | NS      | $700034.72    | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| Calix Inc.                                | CALIX INC                            | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |      2368 | NS      | $162018.56    | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Tower Semiconductor Limited               | TOWER SEMICONDCT                     | CUSIP: M87915274<br>LEI: 54930086ZSNXZOUX0C54 | Long             | EC               | CORP              | IL        |      4147 | NS      | $353199.99    | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Viemed Healthcare Inc.                    | VIEMED HEALTHCARE INC                | CUSIP: 92663R105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     38396 | NS      | $248038.16    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Allegiant Travel Company                  | ALLEGIANT TRAVEL                     | CUSIP: 01748X102<br>LEI: 549300JM9OZXOHWL2K18 | Long             | EC               | CORP              | US        |      4335 | NS      | $269550.30    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Strata Critical Medical Inc.              | STRATA CRITICAL                      | CUSIP: 092667104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     49671 | NS      | $249845.13    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Vimeo Inc                                 | VIMEO INC                            | CUSIP: 92719V100<br>LEI: 25490061AWYWC90UIJ68 | Long             | EC               | CORP              | US        |    186990 | NS      | $1458522.00   | 1.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Centerspace                               | CENTERSPACE                          | CUSIP: 15202L107<br>LEI: 5493002LG2SH9EEHT720 | Long             | EC               | CORP              | US        |      8512 | NS      | $504336.00    | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Alpine Income Property Trust Inc          | ALPINE INCOME                        | CUSIP: 02083X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28189 | NS      | $413814.52    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Independent Bank Corp Michigan            | INDEP BANK/MICH                      | CUSIP: 453838609<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13271 | NS      | $401049.62    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| TAT Technologies                          | TAT TECHNOLOGIES                     | CUSIP: M8740S227<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |      5892 | NS      | $247464.00    | 0.26%             |  |  |  | No            | 1                  | On Loan: —       |
| Peapack-Gladstone Financial Corp.         | PEAPACK GLADSTON                     | CUSIP: 704699107<br>LEI: 549300G8DN2UK8K0ET30 | Long             | EC               | CORP              | US        |     13296 | NS      | $336388.80    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Caredx Inc                                | CAREDX INC                           | CUSIP: 14167L103<br>LEI: 549300NQOFKL9NON0U06 | Long             | EC               | CORP              | US        |     39834 | NS      | $597510.00    | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| Gildan Activewear Inc.                    | GILDAN ACTIVEWEA                     | CUSIP: 375916103<br>LEI: 549300SB3IBI34M00Z45 | Long             | EC               | CORP              | CA        |      3993 | NS      | $232751.97    | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Koppers Holdings Inc                      | KOPPERS HOLDINGS                     | CUSIP: 50060P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23878 | NS      | $673837.16    | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Ranpak Holdings Corp.                     | RANPAK HOLDINGS CORP                 | CUSIP: 75321W103<br>LEI: 5493000Z9EZR9DCYOO86 | Long             | EC               | CORP              | US        |     74113 | NS      | $392798.90    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Bath & Body Works Inc                     | BATH & BODY WORK                     | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |     13210 | NS      | $323380.80    | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| BGC Group Inc                             | BGC GROUP INC-A                      | CUSIP: 088929104<br>LEI: 2549001IGRCG4F0RLD36 | Long             | EC               | CORP              | US        |     91028 | NS      | $831995.92    | 0.88%             |  |  |  | No            | 1                  | On Loan: No      |
| Ituran                                    | ITURAN LOCATION                      | CUSIP: M6158M104<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |     14475 | NS      | $557432.25    | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| Ingevity Corporation                      | INGEVITY CORP                        | CUSIP: 45688C107<br>LEI: 5493009UTFC4B5IMGF87 | Long             | EC               | CORP              | US        |      7194 | NS      | $386461.68    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| NorthWestern Energy Group Inc             | NORTHWESTERN ENE                     | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |      6231 | NS      | $371803.77    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Scorpio Tankers Inc                       | SCORPIO TANKERS                      | CUSIP: Y7542C130<br>LEI: 549300NVJUH16NXG8K87 | Long             | EC               | CORP              | MH        |     10460 | NS      | $645382.00    | 0.68%             |  |  |  | No            | 1                  | On Loan: No      |
| Silicon Motion Technology Corp.           | SILICON MOTI-ADR                     | CUSIP: 82706C108<br>LEI: 5299005RBVBZQJTYFC89 | Long             | EC               | CORP              | KY        |      9465 | NS      | $928611.15    | 0.98%             |  |  |  | No            | 1                  | On Loan: No      |
| UFP Industries Inc                        | UFP INDUSTRIES I                     | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |      2298 | NS      | $211714.74    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Solaris Energy Infrastructure Inc         | SOLARIS ENERGY I                     | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |      2652 | NS      | $141165.96    | 0.15%             |  |  |  | No            | 1                  | On Loan: —       |
| Trueblue Inc                              | TRUEBLUE INC                         | CUSIP: 89785X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     83690 | NS      | $396690.60    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Driven Brands Holdings Inc                | DRIVEN BRANDS HO                     | CUSIP: 26210V102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37557 | NS      | $538942.95    | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Acadia Healthcare Company, Inc.           | ACADIA HEALTHCAR                     | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Long             | EC               | CORP              | US        |      9053 | NS      | $194639.50    | 0.20%             |  |  |  | No            | 1                  | On Loan: No      |
| Matthews International Corp               | MATTHEWS INTL-A                      | CUSIP: 577128101<br>LEI: 549300ZVC5O0ATML6U61 | Long             | EC               | CORP              | US        |     17824 | NS      | $417438.08    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Asgn Incorporated                         | ASGN INC                             | CUSIP: 00191U102<br>LEI: LZBNYYCBUKY537072438 | Long             | EC               | CORP              | US        |      6430 | NS      | $287806.80    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Option Care Health Inc                    | OPTION CARE HEAL                     | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |      3476 | NS      | $90480.28     | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Dave & Buster's Entertainment Inc         | DAVE & BUSTER'S                      | CUSIP: 238337109<br>LEI: 529900WTVU85QZLYHR86 | Long             | EC               | CORP              | US        |      5963 | NS      | $87596.47     | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Unitil Corp                               | UNITIL CORP                          | CUSIP: 913259107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11886 | NS      | $579442.50    | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| Carlsmed Inc.                             | CARLSMED INC                         | CUSIP: 14280C105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29317 | NS      | $377896.13    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Joint Corp. (The)                         | JOINT CORP/THE                       | CUSIP: 47973J102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25589 | NS      | $201897.21    | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Onto Innovation Inc.                      | ONTO INNOVATION                      | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |      3357 | NS      | $453060.72    | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Webster Financial Corp.                   | WEBSTER FINL                         | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |     13890 | NS      | $792285.60    | 0.83%             |  |  |  | No            | 1                  | On Loan: No      |
| SM Energy Co.                             | SM ENERGY CO                         | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |     12785 | NS      | $267078.65    | 0.28%             |  |  |  | No            | 1                  | On Loan: —       |
| Leonardo DRS Inc                          | LEONARDO DRS INC                     | CUSIP: 52661A108<br>LEI: 549300HMMEWVG3PPQU18 | Long             | EC               | CORP              | US        |      4599 | NS      | $168139.44    | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Metallus Inc.                             | METALLUS INC                         | CUSIP: 887399103<br>LEI: 549300QZTZWHDE9HJL14 | Long             | EC               | CORP              | US        |     38408 | NS      | $675596.72    | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

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

**Name of Applicant:** Dunham Funds

**Signature:** James Colantino

**Name of Signer:** James Colantino

**Title:** Assistant Treasurer