# EDGAR Filing Document

**Accession Number:** 0000891190
**File Stem:** 0001752724-23-016433
**Filing Date:** 2023-1
**Character Count:** 154093
**Document Hash:** b3905c68d16c6f5605bf4e489c53c5ba
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-016433.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001752724-23-016433

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230127

**DATE AS OF CHANGE**: 20230127

**PERIOD START**: 20230831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VANGUARD ADMIRAL FUNDS
- **CENTRAL INDEX KEY:** 0000891190
- **IRS NUMBER:** 232696041
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07043
- **FILM NUMBER:** 23561772

**BUSINESS ADDRESS:**
- **STREET 1:** P.O. BOX 2600, V26
- **CITY:** VALLEY FORGE
- **STATE:** PA
- **ZIP:** 19482
- **BUSINESS PHONE:** 6106691000

**MAIL ADDRESS:**
- **STREET 1:** P.O. BOX 2600  V26
- **CITY:** VALLEY FORGE
- **STATE:** PA
- **ZIP:** 19482

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VANGUARD ADMIRAL FUNDS INC
- **DATE OF NAME CHANGE:** 19920908

## Series and Classes Contracts Data

### Vanguard S&P Mid-Cap 400 Value Index Fund (Series ID: S000030015)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000092040 | ETF Shares           | IVOV            |
| C000092041 | Institutional Shares | VMFVX           |

## Nport-Ex

Vanguard<sup>®</sup> S&P Mid-Cap 400 Value Index Fund

Schedule of Investments (unaudited)

As of November 30, 2022

The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value<br> ($000) |
| **Common Stocks (99.5%)** | **Common Stocks (99.5%)** | **Common Stocks (99.5%)** | **Common Stocks (99.5%)** |
| **Communication Services (1.8%)** | **Communication Services (1.8%)** | **Communication Services (1.8%)** | **Communication Services (1.8%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Frontier Communications Parent Inc. | &nbsp;&nbsp;&nbsp;117305 | &nbsp;&nbsp;&nbsp;&nbsp;3023 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Iridium Communications Inc. | &nbsp;&nbsp;&nbsp; 46870 | &nbsp;&nbsp;&nbsp;&nbsp;2489 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Nexstar Media Group Inc. Class A | &nbsp;&nbsp;&nbsp; 12500 | &nbsp;&nbsp;&nbsp;&nbsp;2370 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;New York Times Co. Class A | &nbsp;&nbsp;&nbsp; 54569 | &nbsp;&nbsp;&nbsp;&nbsp;2000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;TEGNA Inc. | &nbsp;&nbsp;&nbsp; 98028 | &nbsp;&nbsp;&nbsp;&nbsp;1935 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Cable One Inc. | &nbsp;&nbsp;&nbsp; 1609 | &nbsp;&nbsp;&nbsp;&nbsp;1165 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;World Wrestling Entertainment Inc. Class A | &nbsp;&nbsp;&nbsp; 12899 | &nbsp;&nbsp;&nbsp;&nbsp;1030 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;TripAdvisor Inc. | &nbsp;&nbsp;&nbsp; 47663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;John Wiley & Sons Inc. Class A | &nbsp;&nbsp;&nbsp; 16982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**15789** |
| **Consumer Discretionary (12.7%)** | **Consumer Discretionary (12.7%)** | **Consumer Discretionary (12.7%)** | **Consumer Discretionary (12.7%)** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Lear Corp. | &nbsp;&nbsp;&nbsp; 46635 | &nbsp;&nbsp;&nbsp;&nbsp;6727 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Lithia Motors Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;21620 | &nbsp;&nbsp;&nbsp;&nbsp;5174 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Murphy USA Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16875 | &nbsp;&nbsp;&nbsp;&nbsp;4992 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Macy's Inc. | &nbsp;&nbsp;&nbsp;211852 | &nbsp;&nbsp;&nbsp;&nbsp;4978 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Penn Entertainment Inc. | &nbsp;&nbsp;&nbsp;124531 | &nbsp;&nbsp;&nbsp;&nbsp;4382 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Toll Brothers Inc. | &nbsp;&nbsp;&nbsp;&nbsp;83979 | &nbsp;&nbsp;&nbsp;&nbsp;4023 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Leggett & Platt Inc. | &nbsp;&nbsp;&nbsp;104167 | &nbsp;&nbsp;&nbsp;&nbsp;3709 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Thor Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42831 | &nbsp;&nbsp;&nbsp;&nbsp;3689 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;PVH Corp. | &nbsp;&nbsp;&nbsp;&nbsp;52605 | &nbsp;&nbsp;&nbsp;&nbsp;3534 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Visteon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22089 | &nbsp;&nbsp;&nbsp;&nbsp;3243 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Kohl's Corp. | &nbsp;&nbsp;&nbsp;100900 | &nbsp;&nbsp;&nbsp;&nbsp;3237 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;H&R Block Inc. | &nbsp;&nbsp;&nbsp;&nbsp;67689 | &nbsp;&nbsp;&nbsp;&nbsp;2959 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Adient plc | &nbsp;&nbsp;&nbsp;&nbsp;74470 | &nbsp;&nbsp;&nbsp;&nbsp;2900 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Polaris Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25063 | &nbsp;&nbsp;&nbsp;&nbsp;2859 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Grand Canyon Education Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25105 | &nbsp;&nbsp;&nbsp;&nbsp;2839 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Ollie's Bargain Outlet Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45652 | &nbsp;&nbsp;&nbsp;&nbsp;2780 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Taylor Morrison Home Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;89267 | &nbsp;&nbsp;&nbsp;&nbsp;2713 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Travel + Leisure Co. | &nbsp;&nbsp;&nbsp;&nbsp;65835 | &nbsp;&nbsp;&nbsp;&nbsp;2559 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Marriott Vacations Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16969 | &nbsp;&nbsp;&nbsp;&nbsp;2528 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Foot Locker Inc. | &nbsp;&nbsp;&nbsp;&nbsp;63104 | &nbsp;&nbsp;&nbsp;&nbsp;2512 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Gentex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;86808 | &nbsp;&nbsp;&nbsp;&nbsp;2509 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Goodyear Tire & Rubber Co. | &nbsp;&nbsp;&nbsp;222118 | &nbsp;&nbsp;&nbsp;&nbsp;2492 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Gap Inc. | &nbsp;&nbsp;&nbsp;167641 | &nbsp;&nbsp;&nbsp;&nbsp;2437 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Capri Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;42293 | &nbsp;&nbsp;&nbsp;&nbsp;2425 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Skechers USA Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;56169 | &nbsp;&nbsp;&nbsp;&nbsp;2369 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Topgolf Callaway Brands Corp. | &nbsp;&nbsp;&nbsp;108839 | &nbsp;&nbsp;&nbsp;&nbsp;2280 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Carter's Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30643 | &nbsp;&nbsp;&nbsp;&nbsp;2238 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Texas Roadhouse Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;21002 | &nbsp;&nbsp;&nbsp;&nbsp;2086 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;KB Home | &nbsp;&nbsp;&nbsp;&nbsp;66356 | &nbsp;&nbsp;&nbsp;&nbsp;2083 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Cracker Barrel Old Country Store Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17901 | &nbsp;&nbsp;&nbsp;&nbsp;2055 |

---

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| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value<br> ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;AutoNation Inc. | &nbsp;&nbsp;&nbsp; 16081 | &nbsp;&nbsp;&nbsp;&nbsp;1993 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Graham Holdings Co. Class B | &nbsp;&nbsp;&nbsp; 3044 | &nbsp;&nbsp;&nbsp;&nbsp;1959 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Nordstrom Inc. | &nbsp;&nbsp;&nbsp; 88267 | &nbsp;&nbsp;&nbsp;&nbsp;1851 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hanesbrands Inc. | &nbsp;&nbsp;&nbsp;273994 | &nbsp;&nbsp;&nbsp;&nbsp;1841 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Wyndham Hotels & Resorts Inc. | &nbsp;&nbsp;&nbsp; 24821 | &nbsp;&nbsp;&nbsp;&nbsp;1820 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Dana Inc. | &nbsp;&nbsp;&nbsp;100227 | &nbsp;&nbsp;&nbsp;&nbsp;1765 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Harley-Davidson Inc. | &nbsp;&nbsp;&nbsp; 34472 | &nbsp;&nbsp;&nbsp;&nbsp;1625 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Victoria's Secret & Co. | &nbsp;&nbsp;&nbsp; 33228 | &nbsp;&nbsp;&nbsp;&nbsp;1528 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Wendy's Co. | &nbsp;&nbsp;&nbsp; 66747 | &nbsp;&nbsp;&nbsp;&nbsp;1506 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Columbia Sportswear Co. | &nbsp;&nbsp;&nbsp; 13028 | &nbsp;&nbsp;&nbsp;&nbsp;1167 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Choice Hotels International Inc. | &nbsp;&nbsp;&nbsp; 7321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Under Armour Inc. Class A | &nbsp;&nbsp;&nbsp; 84683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Under Armour Inc. Class C | &nbsp;&nbsp;&nbsp; 88790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;774 |
|  |  |  | &nbsp;&nbsp;**114889** |
| **Consumer Staples (5.7%)** | **Consumer Staples (5.7%)** | **Consumer Staples (5.7%)** | **Consumer Staples (5.7%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;BJ's Wholesale Club Holdings Inc. | &nbsp;&nbsp;&nbsp;106175 | &nbsp;&nbsp;&nbsp;&nbsp;7989 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Performance Food Group Co. | &nbsp;&nbsp;&nbsp;121740 | &nbsp;&nbsp;&nbsp;&nbsp;7424 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Casey's General Stores Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29258 | &nbsp;&nbsp;&nbsp;&nbsp;7110 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Ingredion Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51459 | &nbsp;&nbsp;&nbsp;&nbsp;5042 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Flowers Foods Inc. | &nbsp;&nbsp;&nbsp;151550 | &nbsp;&nbsp;&nbsp;&nbsp;4554 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Post Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42711 | &nbsp;&nbsp;&nbsp;&nbsp;3998 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Sprouts Farmers Market Inc. | &nbsp;&nbsp;&nbsp;&nbsp;84405 | &nbsp;&nbsp;&nbsp;&nbsp;2898 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;BellRing Brands Inc. | &nbsp;&nbsp;&nbsp;106389 | &nbsp;&nbsp;&nbsp;&nbsp;2650 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Coty Inc. Class A | &nbsp;&nbsp;&nbsp;283449 | &nbsp;&nbsp;&nbsp;&nbsp;2231 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Grocery Outlet Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;69289 | &nbsp;&nbsp;&nbsp;&nbsp;2097 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Energizer Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51971 | &nbsp;&nbsp;&nbsp;&nbsp;1772 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Lancaster Colony Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8088 | &nbsp;&nbsp;&nbsp;&nbsp;1675 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Boston Beer Co. Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2977 | &nbsp;&nbsp;&nbsp;&nbsp;1144 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Pilgrim's Pride Corp. | &nbsp;&nbsp;&nbsp;&nbsp;35831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**51521** |
| **Energy (3.8%)** | **Energy (3.8%)** | **Energy (3.8%)** | **Energy (3.8%)** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;HF Sinclair Corp. | &nbsp;&nbsp;&nbsp;114112 | &nbsp;&nbsp;&nbsp;&nbsp;7114 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;NOV Inc. | &nbsp;&nbsp;&nbsp;308523 | &nbsp;&nbsp;&nbsp;&nbsp;6930 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;PBF Energy Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;89363 | &nbsp;&nbsp;&nbsp;&nbsp;3554 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Antero Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;95118 | &nbsp;&nbsp;&nbsp;&nbsp;3477 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Equitrans Midstream Corp. | &nbsp;&nbsp;&nbsp;339969 | &nbsp;&nbsp;&nbsp;&nbsp;2852 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;DT Midstream Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44074 | &nbsp;&nbsp;&nbsp;&nbsp;2659 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;ChampionX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;84478 | &nbsp;&nbsp;&nbsp;&nbsp;2605 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Southwestern Energy Co. | &nbsp;&nbsp;&nbsp;315074 | &nbsp;&nbsp;&nbsp;&nbsp;2180 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Range Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;60313 | &nbsp;&nbsp;&nbsp;&nbsp;1741 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;CNX Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;78712 | &nbsp;&nbsp;&nbsp;&nbsp;1367 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**34479** |
| **Financials (18.0%)** | **Financials (18.0%)** | **Financials (18.0%)** | **Financials (18.0%)** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;First Horizon Corp. | &nbsp;&nbsp;&nbsp;421463 | &nbsp;&nbsp;&nbsp;10473 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Reinsurance Group of America Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52629 | &nbsp;&nbsp;&nbsp;&nbsp;7600 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Annaly Capital Management Inc. | &nbsp;&nbsp;&nbsp;338588 | &nbsp;&nbsp;&nbsp;&nbsp;7337 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;RenaissanceRe Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;34327 | &nbsp;&nbsp;&nbsp;&nbsp;6485 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Unum Group | &nbsp;&nbsp;&nbsp;147668 | &nbsp;&nbsp;&nbsp;&nbsp;6229 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Old Republic International Corp. | &nbsp;&nbsp;&nbsp;225661 | &nbsp;&nbsp;&nbsp;&nbsp;5529 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Prosperity Bancshares Inc. | &nbsp;&nbsp;&nbsp;&nbsp;71643 | &nbsp;&nbsp;&nbsp;&nbsp;5414 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Voya Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;76910 | &nbsp;&nbsp;&nbsp;&nbsp;5074 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;New York Community Bancorp Inc. | &nbsp;&nbsp;&nbsp;534327 | &nbsp;&nbsp;&nbsp;&nbsp;4996 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Selective Insurance Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47385 | &nbsp;&nbsp;&nbsp;&nbsp;4555 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;United Bankshares Inc. | &nbsp;&nbsp;&nbsp;105714 | &nbsp;&nbsp;&nbsp;&nbsp;4534 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Webster Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;81479 | &nbsp;&nbsp;&nbsp;&nbsp;4427 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Old National Bancorp | &nbsp;&nbsp;&nbsp;230052 | &nbsp;&nbsp;&nbsp;&nbsp;4396 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Valley National Bancorp | &nbsp;&nbsp;&nbsp;330071 | &nbsp;&nbsp;&nbsp;&nbsp;4179 |

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| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value<br> ($000) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;American Financial Group Inc. | &nbsp;&nbsp;&nbsp; 29069 | &nbsp;&nbsp;&nbsp;&nbsp;4134 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Cadence Bank | &nbsp;&nbsp;&nbsp;143307 | &nbsp;&nbsp;&nbsp;&nbsp;4133 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hanover Insurance Group Inc. | &nbsp;&nbsp;&nbsp; 27988 | &nbsp;&nbsp;&nbsp;&nbsp;4123 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;FNB Corp. | &nbsp;&nbsp;&nbsp;275524 | &nbsp;&nbsp;&nbsp;&nbsp;3885 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Essent Group Ltd. | &nbsp;&nbsp;&nbsp; 84578 | &nbsp;&nbsp;&nbsp;&nbsp;3391 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;MGIC Investment Corp. | &nbsp;&nbsp;&nbsp;238323 | &nbsp;&nbsp;&nbsp;&nbsp;3272 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Cullen/Frost Bankers Inc. | &nbsp;&nbsp;&nbsp; 22163 | &nbsp;&nbsp;&nbsp;&nbsp;3215 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Commerce Bancshares Inc. | &nbsp;&nbsp;&nbsp; 42843 | &nbsp;&nbsp;&nbsp;&nbsp;3210 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Brighthouse Financial Inc. | &nbsp;&nbsp;&nbsp; 56406 | &nbsp;&nbsp;&nbsp;&nbsp;3144 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Associated Banc-Corp | &nbsp;&nbsp;&nbsp;118084 | &nbsp;&nbsp;&nbsp;&nbsp;2905 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Synovus Financial Corp. | &nbsp;&nbsp;&nbsp; 68505 | &nbsp;&nbsp;&nbsp;&nbsp;2886 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Kemper Corp. | &nbsp;&nbsp;&nbsp; 50153 | &nbsp;&nbsp;&nbsp;&nbsp;2855 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;FirstCash Holdings Inc. | &nbsp;&nbsp;&nbsp; 29925 | &nbsp;&nbsp;&nbsp;&nbsp;2809 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Interactive Brokers Group Inc. Class A | &nbsp;&nbsp;&nbsp; 30696 | &nbsp;&nbsp;&nbsp;&nbsp;2465 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Fulton Financial Corp. | &nbsp;&nbsp;&nbsp;131508 | &nbsp;&nbsp;&nbsp;&nbsp;2445 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;First American Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;44176 | &nbsp;&nbsp;&nbsp;&nbsp;2414 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Home BancShares Inc. | &nbsp;&nbsp;&nbsp;&nbsp;94377 | &nbsp;&nbsp;&nbsp;&nbsp;2402 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Texas Capital Bancshares Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39183 | &nbsp;&nbsp;&nbsp;&nbsp;2351 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;International Bancshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;41559 | &nbsp;&nbsp;&nbsp;&nbsp;2189 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Wintrust Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23853 | &nbsp;&nbsp;&nbsp;&nbsp;2181 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Umpqua Holdings Corp. | &nbsp;&nbsp;&nbsp;107421 | &nbsp;&nbsp;&nbsp;&nbsp;2177 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Bank OZK | &nbsp;&nbsp;&nbsp;&nbsp;46297 | &nbsp;&nbsp;&nbsp;&nbsp;2137 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;CNO Financial Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;89861 | &nbsp;&nbsp;&nbsp;&nbsp;2110 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;SEI Investments Co. | &nbsp;&nbsp;&nbsp;&nbsp;33166 | &nbsp;&nbsp;&nbsp;&nbsp;2065 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hancock Whitney Corp. | &nbsp;&nbsp;&nbsp;&nbsp;37032 | &nbsp;&nbsp;&nbsp;&nbsp;2031 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Washington Federal Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51277 | &nbsp;&nbsp;&nbsp;&nbsp;1808 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Primerica Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11175 | &nbsp;&nbsp;&nbsp;&nbsp;1665 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Cathay General Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;35598 | &nbsp;&nbsp;&nbsp;&nbsp;1654 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;RLI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12677 | &nbsp;&nbsp;&nbsp;&nbsp;1649 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Bank of Hawaii Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18264 | &nbsp;&nbsp;&nbsp;&nbsp;1473 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Janus Henderson Group plc | &nbsp;&nbsp;&nbsp;&nbsp;56066 | &nbsp;&nbsp;&nbsp;&nbsp;1418 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Federated Hermes Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;35142 | &nbsp;&nbsp;&nbsp;&nbsp;1334 |
|  |  |  | &nbsp;&nbsp;**163158** |
| **Health Care (6.8%)** | **Health Care (6.8%)** | **Health Care (6.8%)** | **Health Care (6.8%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Jazz Pharmaceuticals plc | &nbsp;&nbsp;&nbsp;&nbsp;49229 | &nbsp;&nbsp;&nbsp;&nbsp;7724 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Acadia Healthcare Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;71344 | &nbsp;&nbsp;&nbsp;&nbsp;6354 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;United Therapeutics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18589 | &nbsp;&nbsp;&nbsp;&nbsp;5203 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Encompass Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;78362 | &nbsp;&nbsp;&nbsp;&nbsp;4583 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Envista Holdings Corp. | &nbsp;&nbsp;&nbsp;128316 | &nbsp;&nbsp;&nbsp;&nbsp;4378 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;LHC Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24367 | &nbsp;&nbsp;&nbsp;&nbsp;3982 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Haemonetics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;40302 | &nbsp;&nbsp;&nbsp;&nbsp;3438 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Perrigo Co. plc | &nbsp;&nbsp;&nbsp;105731 | &nbsp;&nbsp;&nbsp;&nbsp;3408 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Chemed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5033 | &nbsp;&nbsp;&nbsp;&nbsp;2617 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Amedisys Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25479 | &nbsp;&nbsp;&nbsp;&nbsp;2321 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Exelixis Inc. | &nbsp;&nbsp;&nbsp;118800 | &nbsp;&nbsp;&nbsp;&nbsp;2029 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Patterson Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;68032 | &nbsp;&nbsp;&nbsp;&nbsp;1935 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Globus Medical Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;24193 | &nbsp;&nbsp;&nbsp;&nbsp;1788 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;NuVasive Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40795 | &nbsp;&nbsp;&nbsp;&nbsp;1584 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Integra LifeSciences Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;27923 | &nbsp;&nbsp;&nbsp;&nbsp;1534 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;HealthEquity Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21828 | &nbsp;&nbsp;&nbsp;&nbsp;1386 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Lantheus Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22102 | &nbsp;&nbsp;&nbsp;&nbsp;1372 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;ICU Medical Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8354 | &nbsp;&nbsp;&nbsp;&nbsp;1330 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Enovis Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22161 | &nbsp;&nbsp;&nbsp;&nbsp;1200 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Neogen Corp. | &nbsp;&nbsp;&nbsp;&nbsp;71588 | &nbsp;&nbsp;&nbsp;&nbsp;1185 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;LivaNova plc | &nbsp;&nbsp;&nbsp;&nbsp;16896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Progyny Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818 |

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| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value<br> ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;R1 RCM Inc. | &nbsp;&nbsp;&nbsp; 45468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Sotera Health Co. | &nbsp;&nbsp;&nbsp; 18551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**61671** |
| **Industrials (19.6%)** | **Industrials (19.6%)** | **Industrials (19.6%)** | **Industrials (19.6%)** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;AECOM | &nbsp;&nbsp;&nbsp;109691 | &nbsp;&nbsp;&nbsp;&nbsp;9324 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Knight-Swift Transportation Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;126195 | &nbsp;&nbsp;&nbsp;&nbsp;6995 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Owens Corning | &nbsp;&nbsp;&nbsp; 75586 | &nbsp;&nbsp;&nbsp;&nbsp;6715 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;AGCO Corp. | &nbsp;&nbsp;&nbsp; 48630 | &nbsp;&nbsp;&nbsp;&nbsp;6454 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;EMCOR Group Inc. | &nbsp;&nbsp;&nbsp; 38763 | &nbsp;&nbsp;&nbsp;&nbsp;6004 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;CACI International Inc. Class A | &nbsp;&nbsp;&nbsp; 18391 | &nbsp;&nbsp;&nbsp;&nbsp;5743 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Sunrun Inc. | &nbsp;&nbsp;&nbsp;166589 | &nbsp;&nbsp;&nbsp;&nbsp;5427 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Curtiss-Wright Corp. | &nbsp;&nbsp;&nbsp; 30156 | &nbsp;&nbsp;&nbsp;&nbsp;5327 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;MDU Resources Group Inc. | &nbsp;&nbsp;&nbsp;159735 | &nbsp;&nbsp;&nbsp;&nbsp;5030 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hubbell Inc. Class B | &nbsp;&nbsp;&nbsp; 19395 | &nbsp;&nbsp;&nbsp;&nbsp;4927 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Science Applications International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;43734 | &nbsp;&nbsp;&nbsp;&nbsp;4816 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Oshkosh Corp. | &nbsp;&nbsp;&nbsp;&nbsp;51349 | &nbsp;&nbsp;&nbsp;&nbsp;4728 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Woodward Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47252 | &nbsp;&nbsp;&nbsp;&nbsp;4527 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Univar Solutions Inc. | &nbsp;&nbsp;&nbsp;131003 | &nbsp;&nbsp;&nbsp;&nbsp;4340 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Timken Co. | &nbsp;&nbsp;&nbsp;&nbsp;52500 | &nbsp;&nbsp;&nbsp;&nbsp;3989 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Regal Rexnord Corp. | &nbsp;&nbsp;&nbsp;&nbsp;30284 | &nbsp;&nbsp;&nbsp;&nbsp;3971 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hexcel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;66055 | &nbsp;&nbsp;&nbsp;&nbsp;3960 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Stericycle Inc. | &nbsp;&nbsp;&nbsp;&nbsp;72398 | &nbsp;&nbsp;&nbsp;&nbsp;3774 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Ryder System Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40212 | &nbsp;&nbsp;&nbsp;&nbsp;3759 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Fluor Corp. | &nbsp;&nbsp;&nbsp;111603 | &nbsp;&nbsp;&nbsp;&nbsp;3751 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Graco Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53134 | &nbsp;&nbsp;&nbsp;&nbsp;3718 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;ManpowerGroup Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40638 | &nbsp;&nbsp;&nbsp;&nbsp;3557 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;XPO Logistics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;90357 | &nbsp;&nbsp;&nbsp;&nbsp;3490 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Kirby Corp. | &nbsp;&nbsp;&nbsp;&nbsp;47052 | &nbsp;&nbsp;&nbsp;&nbsp;3284 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Flowserve Corp. | &nbsp;&nbsp;&nbsp;102661 | &nbsp;&nbsp;&nbsp;&nbsp;3219 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;MSC Industrial Direct Co. Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;37182 | &nbsp;&nbsp;&nbsp;&nbsp;3191 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;GATX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;27731 | &nbsp;&nbsp;&nbsp;&nbsp;3127 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Donaldson Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47562 | &nbsp;&nbsp;&nbsp;&nbsp;2897 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Lincoln Electric Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19109 | &nbsp;&nbsp;&nbsp;&nbsp;2826 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Lennox International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10636 | &nbsp;&nbsp;&nbsp;&nbsp;2770 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Terex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;53258 | &nbsp;&nbsp;&nbsp;&nbsp;2445 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;ITT Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28583 | &nbsp;&nbsp;&nbsp;&nbsp;2416 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;EnerSys | &nbsp;&nbsp;&nbsp;&nbsp;31939 | &nbsp;&nbsp;&nbsp;&nbsp;2414 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Watsco Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8868 | &nbsp;&nbsp;&nbsp;&nbsp;2385 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Mercury Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45298 | &nbsp;&nbsp;&nbsp;&nbsp;2302 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Brink's Co. | &nbsp;&nbsp;&nbsp;&nbsp;37105 | &nbsp;&nbsp;&nbsp;&nbsp;2217 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Middleby Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15236 | &nbsp;&nbsp;&nbsp;&nbsp;2197 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;nVent Electric plc | &nbsp;&nbsp;&nbsp;&nbsp;53625 | &nbsp;&nbsp;&nbsp;&nbsp;2146 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;MasTec Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22691 | &nbsp;&nbsp;&nbsp;&nbsp;2061 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Werner Enterprises Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46330 | &nbsp;&nbsp;&nbsp;&nbsp;2038 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;JetBlue Airways Corp. | &nbsp;&nbsp;&nbsp;254339 | &nbsp;&nbsp;&nbsp;&nbsp;2025 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Crane Holdings Co. | &nbsp;&nbsp;&nbsp;&nbsp;19104 | &nbsp;&nbsp;&nbsp;&nbsp;2024 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;MSA Safety Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14153 | &nbsp;&nbsp;&nbsp;&nbsp;1996 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;KBR Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38222 | &nbsp;&nbsp;&nbsp;&nbsp;1975 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Clean Harbors Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16202 | &nbsp;&nbsp;&nbsp;&nbsp;1944 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;IAA Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48313 | &nbsp;&nbsp;&nbsp;&nbsp;1805 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Landstar System Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10010 | &nbsp;&nbsp;&nbsp;&nbsp;1731 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;RXO Inc. | &nbsp;&nbsp;&nbsp;&nbsp;90190 | &nbsp;&nbsp;&nbsp;&nbsp;1714 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Kennametal Inc. | &nbsp;&nbsp;&nbsp;&nbsp;63827 | &nbsp;&nbsp;&nbsp;&nbsp;1686 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Dycom Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14121 | &nbsp;&nbsp;&nbsp;&nbsp;1287 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Esab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23848 | &nbsp;&nbsp;&nbsp;&nbsp;1129 |
|  |  |  | &nbsp;&nbsp;**177577** |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Market<br> Value<br> ($000)** |
| **Information Technology (9.3%)** | **Information Technology (9.3%)** | **Information Technology (9.3%)** | **Information Technology (9.3%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;First Solar Inc. | &nbsp;&nbsp;&nbsp; 31925 | &nbsp;&nbsp;&nbsp;&nbsp;5508 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Arrow Electronics Inc. | &nbsp;&nbsp;&nbsp; 50405 | &nbsp;&nbsp;&nbsp;&nbsp;5481 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Fair Isaac Corp. | &nbsp;&nbsp;&nbsp; 8329 | &nbsp;&nbsp;&nbsp;&nbsp;5162 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Western Union Co. | &nbsp;&nbsp;&nbsp;302919 | &nbsp;&nbsp;&nbsp;&nbsp;4441 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Jabil Inc. | &nbsp;&nbsp;&nbsp; 60506 | &nbsp;&nbsp;&nbsp;&nbsp;4368 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Wolfspeed Inc. | &nbsp;&nbsp;&nbsp; 43702 | &nbsp;&nbsp;&nbsp;&nbsp;3973 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;TD SYNNEX Corp. | &nbsp;&nbsp;&nbsp; 33127 | &nbsp;&nbsp;&nbsp;&nbsp;3389 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Avnet Inc. | &nbsp;&nbsp;&nbsp; 74369 | &nbsp;&nbsp;&nbsp;&nbsp;3359 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;WEX Inc. | &nbsp;&nbsp;&nbsp; 19773 | &nbsp;&nbsp;&nbsp;&nbsp;3344 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Belden Inc. | &nbsp;&nbsp;&nbsp; 34194 | &nbsp;&nbsp;&nbsp;&nbsp;2751 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;NCR Corp. | &nbsp;&nbsp;&nbsp;107494 | &nbsp;&nbsp;&nbsp;&nbsp;2566 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Cognex Corp. | &nbsp;&nbsp;&nbsp; 50393 | &nbsp;&nbsp;&nbsp;&nbsp;2509 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Vontier Corp. | &nbsp;&nbsp;&nbsp;124073 | &nbsp;&nbsp;&nbsp;&nbsp;2435 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;IPG Photonics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26029 | &nbsp;&nbsp;&nbsp;&nbsp;2369 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Vishay Intertechnology Inc. | &nbsp;&nbsp;&nbsp;102630 | &nbsp;&nbsp;&nbsp;&nbsp;2365 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Euronet Worldwide Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24410 | &nbsp;&nbsp;&nbsp;&nbsp;2269 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Genpact Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;45051 | &nbsp;&nbsp;&nbsp;&nbsp;2077 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Viasat Inc. | &nbsp;&nbsp;&nbsp;&nbsp;59345 | &nbsp;&nbsp;&nbsp;&nbsp;2023 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;National Instruments Corp. | &nbsp;&nbsp;&nbsp;&nbsp;48799 | &nbsp;&nbsp;&nbsp;&nbsp;2002 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Ciena Corp. | &nbsp;&nbsp;&nbsp;&nbsp;43512 | &nbsp;&nbsp;&nbsp;&nbsp;1956 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Coherent Corp. | &nbsp;&nbsp;&nbsp;&nbsp;52932 | &nbsp;&nbsp;&nbsp;&nbsp;1941 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Kyndryl Holdings Inc. | &nbsp;&nbsp;&nbsp;160286 | &nbsp;&nbsp;&nbsp;&nbsp;1877 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Littelfuse Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7383 | &nbsp;&nbsp;&nbsp;&nbsp;1820 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Cirrus Logic Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22828 | &nbsp;&nbsp;&nbsp;&nbsp;1705 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;MKS Instruments Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20202 | &nbsp;&nbsp;&nbsp;&nbsp;1694 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Lumentum Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29811 | &nbsp;&nbsp;&nbsp;&nbsp;1638 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Novanta Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9775 | &nbsp;&nbsp;&nbsp;&nbsp;1542 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Xerox Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;87822 | &nbsp;&nbsp;&nbsp;&nbsp;1432 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Amkor Technology Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46706 | &nbsp;&nbsp;&nbsp;&nbsp;1309 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Envestnet Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20448 | &nbsp;&nbsp;&nbsp;&nbsp;1207 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;ACI Worldwide Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;CommVault Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;809 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Blackbaud Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Semtech Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**84168** |
| **Materials (6.8%)** | **Materials (6.8%)** | **Materials (6.8%)** | **Materials (6.8%)** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Reliance Steel & Aluminum Co. | &nbsp;&nbsp;&nbsp;&nbsp;47357 | &nbsp;&nbsp;&nbsp;10006 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;RPM International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49645 | &nbsp;&nbsp;&nbsp;&nbsp;5144 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;United States Steel Corp. | &nbsp;&nbsp;&nbsp;186323 | &nbsp;&nbsp;&nbsp;&nbsp;4899 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Sonoco Products Co. | &nbsp;&nbsp;&nbsp;&nbsp;76582 | &nbsp;&nbsp;&nbsp;&nbsp;4700 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Commercial Metals Co. | &nbsp;&nbsp;&nbsp;&nbsp;94644 | &nbsp;&nbsp;&nbsp;&nbsp;4658 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Alcoa Corp. | &nbsp;&nbsp;&nbsp;&nbsp;84793 | &nbsp;&nbsp;&nbsp;&nbsp;4251 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Chemours Co. | &nbsp;&nbsp;&nbsp;121842 | &nbsp;&nbsp;&nbsp;&nbsp;3783 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Silgan Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65791 | &nbsp;&nbsp;&nbsp;&nbsp;3480 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Cabot Corp. | &nbsp;&nbsp;&nbsp;&nbsp;44217 | &nbsp;&nbsp;&nbsp;&nbsp;3255 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;AptarGroup Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27711 | &nbsp;&nbsp;&nbsp;&nbsp;2941 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Westlake Corp. | &nbsp;&nbsp;&nbsp;&nbsp;27132 | &nbsp;&nbsp;&nbsp;&nbsp;2921 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Ashland Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22296 | &nbsp;&nbsp;&nbsp;&nbsp;2494 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Royal Gold Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20625 | &nbsp;&nbsp;&nbsp;&nbsp;2317 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;NewMarket Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5423 | &nbsp;&nbsp;&nbsp;&nbsp;1714 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Greif Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;20882 | &nbsp;&nbsp;&nbsp;&nbsp;1468 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Worthington Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23666 | &nbsp;&nbsp;&nbsp;&nbsp;1343 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Sensient Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14247 | &nbsp;&nbsp;&nbsp;&nbsp;1064 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Ingevity Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12973 | &nbsp;&nbsp;&nbsp;&nbsp;1016 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**61454** |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Market<br> Value<br> ($000)** |
| **Real Estate (8.8%)** | **Real Estate (8.8%)** | **Real Estate (8.8%)** | **Real Estate (8.8%)** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;STORE Capital Corp. | &nbsp;&nbsp;&nbsp;208713 | &nbsp;&nbsp;&nbsp;&nbsp;6658 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Medical Properties Trust Inc. | &nbsp;&nbsp;&nbsp;470473 | &nbsp;&nbsp;&nbsp;&nbsp;6173 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Omega Healthcare Investors Inc. | &nbsp;&nbsp;&nbsp;183888 | &nbsp;&nbsp;&nbsp;&nbsp;5568 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Spirit Realty Capital Inc. | &nbsp;&nbsp;&nbsp;107095 | &nbsp;&nbsp;&nbsp;&nbsp;4436 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Kite Realty Group Trust | &nbsp;&nbsp;&nbsp;172115 | &nbsp;&nbsp;&nbsp;&nbsp;3924 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Kilroy Realty Corp. | &nbsp;&nbsp;&nbsp; 82619 | &nbsp;&nbsp;&nbsp;&nbsp;3571 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;National Retail Properties Inc. | &nbsp;&nbsp;&nbsp; 76524 | &nbsp;&nbsp;&nbsp;&nbsp;3548 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Jones Lang LaSalle Inc. | &nbsp;&nbsp;&nbsp; 19192 | &nbsp;&nbsp;&nbsp;&nbsp;3227 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Cousins Properties Inc. | &nbsp;&nbsp;&nbsp;118964 | &nbsp;&nbsp;&nbsp;&nbsp;3138 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Healthcare Realty Trust Inc. Class A | &nbsp;&nbsp;&nbsp;152458 | &nbsp;&nbsp;&nbsp;&nbsp;3130 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Physicians Realty Trust | &nbsp;&nbsp;&nbsp;177827 | &nbsp;&nbsp;&nbsp;&nbsp;2655 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Highwoods Properties Inc. | &nbsp;&nbsp;&nbsp; 82645 | &nbsp;&nbsp;&nbsp;&nbsp;2463 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Brixmor Property Group Inc. | &nbsp;&nbsp;&nbsp;105941 | &nbsp;&nbsp;&nbsp;&nbsp;2456 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Corporate Office Properties Trust | &nbsp;&nbsp;&nbsp;&nbsp;88328 | &nbsp;&nbsp;&nbsp;&nbsp;2453 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;EPR Properties | &nbsp;&nbsp;&nbsp;&nbsp;58935 | &nbsp;&nbsp;&nbsp;&nbsp;2452 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Apartment Income REIT Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;64187 | &nbsp;&nbsp;&nbsp;&nbsp;2442 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Sabra Health Care REIT Inc. | &nbsp;&nbsp;&nbsp;181452 | &nbsp;&nbsp;&nbsp;&nbsp;2342 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Lamar Advertising Co. Class A | &nbsp;&nbsp;&nbsp;&nbsp;23264 | &nbsp;&nbsp;&nbsp;&nbsp;2330 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Park Hotels & Resorts Inc. | &nbsp;&nbsp;&nbsp;176614 | &nbsp;&nbsp;&nbsp;&nbsp;2266 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Macerich Co. | &nbsp;&nbsp;&nbsp;168714 | &nbsp;&nbsp;&nbsp;&nbsp;2143 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;SL Green Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;50501 | &nbsp;&nbsp;&nbsp;&nbsp;2119 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pebblebrook Hotel Trust | &nbsp;&nbsp;&nbsp;103162 | &nbsp;&nbsp;&nbsp;&nbsp;1718 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;PotlatchDeltic Corp. | &nbsp;&nbsp;&nbsp;&nbsp;35424 | &nbsp;&nbsp;&nbsp;&nbsp;1693 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Rayonier Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45972 | &nbsp;&nbsp;&nbsp;&nbsp;1649 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;First Industrial Realty Trust Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32125 | &nbsp;&nbsp;&nbsp;&nbsp;1624 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;JBG SMITH Properties | &nbsp;&nbsp;&nbsp;&nbsp;78027 | &nbsp;&nbsp;&nbsp;&nbsp;1608 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Douglas Emmett Inc. | &nbsp;&nbsp;&nbsp;&nbsp;74304 | &nbsp;&nbsp;&nbsp;&nbsp;1287 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**79073** |
| **Utilities (6.2%)** | **Utilities (6.2%)** | **Utilities (6.2%)** | **Utilities (6.2%)** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;UGI Corp. | &nbsp;&nbsp;&nbsp;164437 | &nbsp;&nbsp;&nbsp;&nbsp;6356 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;IDACORP Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39710 | &nbsp;&nbsp;&nbsp;&nbsp;4389 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;OGE Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;99063 | &nbsp;&nbsp;&nbsp;&nbsp;4008 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;New Jersey Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;75576 | &nbsp;&nbsp;&nbsp;&nbsp;3760 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;ONE Gas Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42521 | &nbsp;&nbsp;&nbsp;&nbsp;3697 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Black Hills Corp. | &nbsp;&nbsp;&nbsp;&nbsp;51114 | &nbsp;&nbsp;&nbsp;&nbsp;3661 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hawaiian Electric Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;85979 | &nbsp;&nbsp;&nbsp;&nbsp;3532 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Portland General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;70095 | &nbsp;&nbsp;&nbsp;&nbsp;3451 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Essential Utilities Inc. | &nbsp;&nbsp;&nbsp;&nbsp;69284 | &nbsp;&nbsp;&nbsp;&nbsp;3342 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Southwest Gas Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48417 | &nbsp;&nbsp;&nbsp;&nbsp;3315 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;PNM Resources Inc. | &nbsp;&nbsp;&nbsp;&nbsp;67414 | &nbsp;&nbsp;&nbsp;&nbsp;3303 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Spire Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41233 | &nbsp;&nbsp;&nbsp;&nbsp;3055 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;ALLETE Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44829 | &nbsp;&nbsp;&nbsp;&nbsp;2968 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;NorthWestern Corp. | &nbsp;&nbsp;&nbsp;&nbsp;44106 | &nbsp;&nbsp;&nbsp;&nbsp;2576 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;National Fuel Gas Co. | &nbsp;&nbsp;&nbsp;&nbsp;34479 | &nbsp;&nbsp;&nbsp;&nbsp;2284 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Ormat Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24844 | &nbsp;&nbsp;&nbsp;&nbsp;2247 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**55944** |
| **Total Common Stocks (Cost $844,106)** | **Total Common Stocks (Cost $844,106)** | **Total Common Stocks (Cost $844,106)** | **899723** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | Coupon | &nbsp;&nbsp;&nbsp;Shares | &nbsp;&nbsp;Market<br> Value<br> ($000) |
| **Temporary Cash Investments (1.3%)** | **Temporary Cash Investments (1.3%)** | **Temporary Cash Investments (1.3%)** | **Temporary Cash Investments (1.3%)** | **Temporary Cash Investments (1.3%)** |
| **Money Market Fund (1.3%)** | **Money Market Fund (1.3%)** | **Money Market Fund (1.3%)** | **Money Market Fund (1.3%)** | **Money Market Fund (1.3%)** |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund<br> **(Cost $11,650)** | 3.877% | 116519 | &nbsp;&nbsp;&nbsp; **11651** |
| **Total Investments (100.8%) (Cost $855,756)** | **Total Investments (100.8%) (Cost $855,756)** | **Total Investments (100.8%) (Cost $855,756)** |  | **911374** |
| **Other Assets and Liabilities—Net (-0.8%)** | **Other Assets and Liabilities—Net (-0.8%)** | **Other Assets and Liabilities—Net (-0.8%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**(6975)** |
| **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** |  | **904399** |

---

Cost is in $000.

---

| | |
|:---|:---|
| \* | Non-income-producing security. |
| 1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $7,456,000. |
| 2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
| 3 | Collateral of $7,838,000 was received for securities on loan. |

---

REIT—Real Estate Investment Trust.

------

#### Derivative Financial Instruments Outstanding as of Period End

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short)<br> Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts |
| E-mini S&P Mid-Cap 400 Index | December 2022 | 4 | 1032 | &nbsp;&nbsp;25 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps | Over-the-Counter Total Return Swaps |
| Reference Entity | Termination<br> Date | Counterparty | Notional<br> Amount<br> ($000) | Floating<br> Interest<br> Rate<br> Received<br> (Paid)<sup>1</sup><br> (%) | Value and<br> Unrealized<br> Appreciation<br> ($000) | Value and<br> Unrealized<br> (Depreciation)<br> ($000) |
| Harley-Davidson Inc. | 8/31/23 | BANA | 3010 | (3.776) | 280 |  |

---

1 Based on USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. <br> BANA—Bank of America, N.A.

At November 30, 2022, the counterparties had deposited in segregated accounts cash of $40,000 in connection with open over-the-counter swap contracts.

------

A. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.

Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

B. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. Fluctuations in the value of the contracts are recorded as an asset (liability).

C. Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks in the fund's target index. Under the terms of the swaps, the fund receives the total return on the referenced stock (i.e., receiving the increase or paying the decrease in value of the selected reference stock and receiving the equivalent of any dividends in respect of the selected referenced stock) over a specified period of time, applied to a notional amount that represents the value of a designated number of shares of the selected reference stock at the beginning of the equity swap contract. The fund also pays a floating rate that is based on short-term interest rates, applied to the notional amount. At the same time, the fund generally invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.

A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund's maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty's default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund's net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily

------

to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded as an asset (liability) and as unrealized appreciation (depreciation) until periodic payments are made or the termination of the swap, at which time realized gain (loss) is recorded.

D. Various inputs may be used to determine the value of the fund's investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the fund's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

The following table summarizes the market value of the fund's investments and derivatives as of November 30, 2022, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| Common Stocks | 899723 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;899723 |
| Temporary Cash Investments | &nbsp;&nbsp;&nbsp;&nbsp;11651 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;11651 |
| Total | &nbsp;&nbsp;911374 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;911374 |
| **Derivative Financial Instruments** |  |  |  |  |
| Assets |  |  |  |  |
| Futures Contracts<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 |
| Total | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305 |

---

1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** VANGUARD ADMIRAL FUNDS

- **b. Investment Company Act file number:** 811-07043

- **c. CIK number of Registrant:** 0000891190

- **d. LEI of Registrant:** 5493001VGEE37B6RMO86

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

  - **Street Address 1:** 100 Vanguard Boulevard

  - **City:** Malvern

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19355

  - **Telephone number:** 610-669-1000

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

- **a. Name of Series:** VANGUARD S&P MID-CAP 400 VALUE INDEX FUND

- **b. EDGAR series identifier (if any):** S000030015

- **c. LEI of Series:** GZH810H5SVG0DPTXTO94

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

- **a. Date of fiscal year-end:** 2023-08-31

- **b. Date as of which information is reported:** 2022-11-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $916306992.23

**Total Liabilities:** $11875630.02

**Net Assets:** $904431362.21

**Cash Not Reported:** $186108.66

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000092041 | -9.52%               | 11.52%               | 6.46%                |
| Class ID C000092040 | -9.53%               | 11.52%               | 6.45%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1616076.10             | $-83898936.43                              |
| Month 2  | $7132693.88              | $80076913.85                               |
| Month 3  | $-186858.98              | $52491402.19                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Boston Beer Co Inc/The                            | BOSTON BEER-A                              | CUSIP: 100557107<br>LEI: 529900Q02MQ0DCQNRM58 | Long             | EC               | CORP              | US        |      3001 | NS      | $1153494.37   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Skechers USA Inc                                  | SKECHERS USA-A                             | CUSIP: 830566105<br>LEI: 529900D2R54KZPA4XR56 | Long             | EC               | CORP              | US        |     56411 | NS      | $2378851.87   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Nu Skin Enterprises Inc                           | NU SKIN ENTERP-A                           | CUSIP: 67018T105<br>LEI: 54930050DETB6CP71D38 | Long             | EC               | CORP              | US        |     39769 | NS      | $1658764.99   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety Inc                                    | MSA SAFETY INC                             | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |     14284 | NS      | $2014186.84   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemed Corp                                       | CHEMED CORP                                | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |      5062 | NS      | $2632240.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Fulton Financial Corp                             | FULTON FINANCIAL                           | CUSIP: 360271100<br>LEI: 5493005QLZ6O1BNC0C11 | Long             | EC               | CORP              | US        |    132554 | NS      | $2464178.86   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis Inc                                      | EXELIXIS INC                               | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |    119370 | NS      | $2038839.60   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Graham Holdings Co                                | GRAHAM HOLDING-B                           | CUSIP: 384637104<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | EC               | CORP              | US        |      3058 | NS      | $1968373.44   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| NuVasive Inc                                      | NUVASIVE INC                               | CUSIP: 670704105<br>LEI: 549300C5ZB4NZ6TWM881 | Long             | EC               | CORP              | US        |     41033 | NS      | $1593721.72   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Watsco Inc                                        | WATSCO INC                                 | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Long             | EC               | CORP              | US        |      8922 | NS      | $2399839.56   | 0.27%             |  |  |  | No            |                  1 | On Loan: —       |
| MACOM Technology Solutions Holdings Inc           | MACOM TECHNOLOGY                           | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8913 | NS      | $612233.97    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TEGNA Inc                                         | TEGNA INC                                  | CUSIP: 87901J105<br>LEI: 549300YC5EDBGX85AO10 | Long             | EC               | CORP              | US        |     98481 | NS      | $1944014.94   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CommVault Systems Inc                             | COMMVAULT SYSTEM                           | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               | CORP              | US        |     12391 | NS      | $817806.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| MSC Industrial Direct Co Inc                      | MSC INDL DIRECT                            | CUSIP: 553530106<br>LEI: 0XVKH0LN6YGOWO2EGO17 | Long             | EC               | CORP              | US        |     37350 | NS      | $3205750.50   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                                        | UNUM GROUP                                 | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |    148584 | NS      | $6267273.12   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrow Electronics Inc                             | ARROW ELECTRONIC                           | CUSIP: 042735100<br>LEI: 549300YNNLBXT8N8R512 | Long             | EC               | CORP              | US        |     50743 | NS      | $5517793.82   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Esab Corp                                         | ESAB CORP                                  | CUSIP: 29605J106<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | EC               | CORP              | US        |     24043 | NS      | $1138195.62   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Progyny Inc                                       | PROGYNY INC                                | CUSIP: 74340E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22344 | NS      | $818460.72    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Haemonetics Corp                                  | HAEMONETICS CORP                           | CUSIP: 405024100<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | EC               | CORP              | US        |     40498 | NS      | $3454884.38   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Hawaii Corp                               | BANK OF HAWAII                             | CUSIP: 062540109<br>LEI: 5493006Q8BQ8AD8M2U33 | Long             | EC               | CORP              | US        |     18376 | NS      | $1482391.92   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Envista Holdings Corp                             | ENVISTA HOLDINGS                           | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |    129201 | NS      | $4408338.12   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp                          | UNITED THERAPEUT                           | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |     18712 | NS      | $5237301.68   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Perrigo Co PLC                                    | PERRIGO CO PLC                             | CUSIP: G97822103<br>LEI: 549300IFOQS6R1QLY196 | Long             | EC               | CORP              | US        |    106242 | NS      | $3424179.66   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognex Corp                                       | COGNEX CORP                                | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |     50724 | NS      | $2525040.72   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Amedisys Inc                                      | AMEDISYS INC                               | CUSIP: 023436108<br>LEI: 5299001RBS9GK9STN379 | Long             | EC               | CORP              | US        |     25638 | NS      | $2335365.42   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Jabil Inc                                         | JABIL INC                                  | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     60931 | NS      | $4398608.89   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc                        | BRIXMOR PROPERTY                           | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |    106605 | NS      | $2471103.90   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson Cos Inc                                 | PATTERSON COS                              | CUSIP: 703395103<br>LEI: YM48Q2087CUE26GWEK09 | Long             | EC               | CORP              | US        |     68352 | NS      | $1943930.88   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream Inc                                  | DT MIDSTREAM                               | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     44303 | NS      | $2672799.99   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| KB Home                                           | KB HOME                                    | CUSIP: 48666K109<br>LEI: 549300LGUCWQURMWLG09 | Long             | EC               | CORP              | US        |     66648 | NS      | $2092080.72   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Ormat Technologies Inc                            | ORMAT TECHNOLOGI                           | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Long             | EC               | CORP              | US        |     24962 | NS      | $2257313.66   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Kohl's Corp                                       | KOHLS CORP                                 | CUSIP: 500255104<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | EC               | CORP              | US        |    101402 | NS      | $3252976.16   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | Receive HARLEY-DAVIDSON Pay Overnight Rate | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |     70000 | NC      | $279950.96    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Kyndryl Holdings Inc                              | KYNDRYL HOLDINGS                           | CUSIP: 50155Q100<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | EC               | CORP              | US        |    161132 | NS      | $1886855.72   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Terex Corp                                        | TEREX CORP                                 | CUSIP: 880779103<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | EC               | CORP              | US        |     53498 | NS      | $2456093.18   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Gold Inc                                    | ROYAL GOLD INC                             | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |     20718 | NS      | $2327252.94   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Republic International Corp                   | OLD REPUB INTL                             | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |    227152 | NS      | $5565224.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| ManpowerGroup Inc                                 | MANPOWERGROUP IN                           | CUSIP: 56418H100<br>LEI: ERO1WSFOSR0JJ6CRQ987 | Long             | EC               | CORP              | US        |     40829 | NS      | $3573354.08   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Oshkosh Corp                                      | OSHKOSH CORP                               | CUSIP: 688239201<br>LEI: 549300FEKNPCFSA2B506 | Long             | EC               | CORP              | US        |     51752 | NS      | $4764806.64   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp                         | TAYLOR MORRISON                            | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |     89853 | NS      | $2730632.67   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| OGE Energy Corp                                   | OGE ENERGY CORP                            | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |     99500 | NS      | $4025770.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| IPG Photonics Corp                                | IPG PHOTONICS                              | CUSIP: 44980X109<br>LEI: 5493002KZ51CADQ94G15 | Long             | EC               | CORP              | US        |     26199 | NS      | $2384894.97   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc                            | COUSINS PROP                               | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |    119556 | NS      | $3153887.28   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumentum Holdings Inc                             | LUMENTUM HOL                               | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |     30056 | NS      | $1651276.64   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Utilities Inc                           | ESSENTIAL UTILIT                           | CUSIP: 29670G102<br>LEI: 549300ILTEOF3E3QY357 | Long             | EC               | CORP              | US        |     69634 | NS      | $3359144.16   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Trust                           | KITE REALTY GROU                           | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    173297 | NS      | $3951171.60   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Timken Co/The                                     | TIMKEN CO                                  | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |     52745 | NS      | $4007565.10   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Washington Federal Inc                            | WASH FED                                   | CUSIP: 938824109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     51532 | NS      | $1817533.64   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| SEI Investments Co                                | SEI INVESTMENTS                            | CUSIP: 784117103<br>LEI: 5LJTIFADGZ6XH1RVOC11 | Long             | EC               | CORP              | US        |     33310 | NS      | $2074546.80   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Under Armour Inc                                  | UNDER ARMOUR-A                             | CUSIP: 904311107<br>LEI: 549300D4549QKWETZ406 | Long             | EC               | CORP              | US        |     85583 | NS      | $855830.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Inc                            | JONES LANG LASAL                           | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |     19290 | NS      | $3243999.30   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| HollyFrontier Corp                                | HF SINCLAIR CORP                           | CUSIP: 403949100<br>LEI: 549300J3U2WK73C9ZK26 | Long             | EC               | CORP              | US        |    114800 | NS      | $7156632.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingredion Inc                                     | INGREDION INC                              | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |     51806 | NS      | $5075433.82   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Wyndham Hotels & Resorts Inc                      | WYNDHAM HOTELS &                           | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |     24942 | NS      | $1828747.44   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Harley-Davidson Inc                               | HARLEY-DAVIDSON                            | CUSIP: 412822108<br>LEI: ZDNAWZWXIKMWI51R2A08 | Long             | EC               | CORP              | US        |     35150 | NS      | $1656619.50   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanover Insurance Group Inc/The                   | HANOVER INSURANC                           | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |     28121 | NS      | $4142223.30   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Commerce Bancshares Inc/MO                        | COMMERCE BCSHS                             | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43051 | NS      | $3225380.92   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| PVH Corp                                          | PVH CORP                                   | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |     52888 | NS      | $3553015.84   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| PNM Resources Inc                                 | PNM RESOURCES                              | CUSIP: 69349H107<br>LEI: 5493003JOBJGLZSDDQ28 | Long             | EC               | CORP              | US        |     67730 | NS      | $3318770.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Grocery Outlet Holding Corp                       | GROCERY OUTLET                             | CUSIP: 39874R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     69718 | NS      | $2110363.86   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| National Retail Properties Inc                    | NATIONAL RETAIL                            | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |     77035 | NS      | $3571342.60   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| H&R Block Inc                                     | H&R BLOCK INC                              | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |     68041 | NS      | $2974072.11   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Enovis Corp                                       | ENOVIS CORP                                | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Long             | EC               | CORP              | US        |     22161 | NS      | $1199574.93   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| MillerKnoll Inc                                   | MILLERKNOLL INC                            | CUSIP: 600544100<br>LEI: U98HXD3PNK7HYU2MU887 | Long             | EC               | CORP              | US        |         7 | NS      | $142.73       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury Systems Inc                               | MERCURY SYSTEMS                            | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |     45602 | NS      | $2317493.64   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust Inc                 | FIRST IND REALTY                           | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32305 | NS      | $1633017.75   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE Gas Inc                                       | ONE GAS INC                                | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |     42806 | NS      | $3721981.70   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Capri Holdings Ltd                                | CAPRI HOLDINGS L                           | CUSIP: G1890L107<br>LEI: 549300LPG8W0H1OX3A26 | Long             | EC               | CORP              | US        |     42485 | NS      | $2436514.75   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Resources Corp                             | ANTERO RESOURCES                           | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |     95574 | NS      | $3493229.70   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| STORE Capital Corp                                | STORE CAPITAL                              | CUSIP: 862121100<br>LEI: 5493004EA6C9IHDZ7N66 | Long             | EC               | CORP              | US        |    209971 | NS      | $6698074.90   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Werner Enterprises Inc                            | WERNER ENT                                 | CUSIP: 950755108<br>LEI: 549300P6XRGOCHHJST37 | Long             | EC               | CORP              | US        |     46534 | NS      | $2046565.32   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Physicians Realty Trust                           | PHYSICIANS REALT                           | CUSIP: 71943U104<br>LEI: 549300ITOVH0OY7PZC34 | Long             | EC               | CORP              | US        |    178786 | NS      | $2669274.98   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Iridium Communications Inc                        | IRIDIUM COMMUNIC                           | CUSIP: 46269C102<br>LEI: 549300U620NVQ4J1CT96 | Long             | EC               | CORP              | US        |     47158 | NS      | $2504089.80   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Brink's Co/The                                    | BRINK'S CO/THE                             | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |     37278 | NS      | $2227360.50   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Brighthouse Financial Inc                         | BRIGHTHOUSE FINA                           | CUSIP: 10922N103<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EC               | CORP              | US        |     56681 | NS      | $3159398.94   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| BellRing Brands Inc                               | BELLRING BRANDS                            | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |    106992 | NS      | $2665170.72   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp                                | REGAL REXNORD CO                           | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |     30431 | NS      | $3989808.41   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| NewMarket Corp                                    | NEWMARKET CORP                             | CUSIP: 651587107<br>LEI: 54930082CG88ERDREQ47 | Long             | EC               | CORP              | US        |      5452 | NS      | $1722941.04   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Spirit Realty Capital Inc                         | SPIRIT REALTY                              | CUSIP: 84860W300<br>LEI: 549300LTU6LVPZSHMJ25 | Long             | EC               | CORP              | US        |    107816 | NS      | $4465738.72   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy USA Inc                                    | MURPHY USA INC                             | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |     16985 | NS      | $5024332.85   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Steel & Aluminum Co                      | RELIANCE STEEL                             | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |     47668 | NS      | $10071771.72  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Spire Inc                                         | SPIRE INC                                  | CUSIP: 84857L101<br>LEI: 549300NXSY15DRY2R511 | Long             | EC               | CORP              | US        |     41444 | NS      | $3071000.40   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| WEX Inc                                           | WEX INC                                    | CUSIP: 96208T104<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | EC               | CORP              | US        |     19871 | NS      | $3360980.94   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthEquity Inc                                  | HEALTHEQUITY INC                           | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |     21969 | NS      | $1394592.12   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay General Bancorp                            | CATHAY GENERAL B                           | CUSIP: 149150104<br>LEI: 549300K1SLJ8C97H5L68 | Long             | EC               | CORP              | US        |     35792 | NS      | $1663254.24   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Medical Properties Trust Inc                      | MEDICAL PROPERTI                           | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Long             | EC               | CORP              | US        |    473516 | NS      | $6212529.92   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingevity Corp                                     | INGEVITY CORP                              | CUSIP: 45688C107<br>LEI: 5493009UTFC4B5IMGF87 | Long             | EC               | CORP              | US        |     12973 | NS      | $1015396.71   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries Inc                              | DYCOM INDS                                 | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |     14222 | NS      | $1296193.08   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Middleby Corp/The                                 | MIDDLEBY CORP                              | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |     15371 | NS      | $2216344.49   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Sotera Health Co                                  | SOTERA HEALTH CO                           | CUSIP: 83601L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18551 | NS      | $154715.34    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp                             | ENCOMPASS HEALTH                           | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     78899 | NS      | $4614013.52   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Univar Solutions Inc                              | UNIVAR SOLUTIONS                           | CUSIP: 91336L107<br>LEI: 549300VSXHFQVR770L55 | Long             | EC               | CORP              | US        |    131629 | NS      | $4360868.77   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLETE Inc                                        | ALLETE INC                                 | CUSIP: 018522300<br>LEI: 549300NNLSIMY6Z8OT86 | Long             | EC               | CORP              | US        |     45097 | NS      | $2985421.40   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Steel Corp                          | US STEEL CORP                              | CUSIP: 912909108<br>LEI: JNLUVFYJT1OZSIQ24U47 | Long             | EC               | CORP              | US        |    187236 | NS      | $4922434.44   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Coty Inc                                          | COTY INC-CL A                              | CUSIP: 222070203<br>LEI: 549300BO9IWPF3S48F93 | Long             | EC               | CORP              | US        |    284706 | NS      | $2240636.22   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Carter's Inc                                      | CARTER'S INC                               | CUSIP: 146229109<br>LEI: 5299003WAQK4R3L3ZU36 | Long             | EC               | CORP              | US        |     30769 | NS      | $2247367.76   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| CNX Resources Corp                                | CNX RESOURCES CO                           | CUSIP: 12653C108<br>LEI: 549300JK3KH8PWM3B226 | Long             | EC               | CORP              | US        |     79232 | NS      | $1376259.84   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabre Corp                                        | SABRE CORP                                 | CUSIP: 78573M104<br>LEI: 529900VKCYZW8GZ4WW58 | Long             | EC               | CORP              | US        |    134656 | NS      | $822748.16    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| nVent Electric PLC                                | NVENT ELECTRIC                             | CUSIP: G6700G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     54032 | NS      | $2161820.32   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties Inc                          | HIGHWOODS PROP                             | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |     83393 | NS      | $2485111.40   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| AECOM                                             | AECOM                                      | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               | CORP              | US        |    110402 | NS      | $9384170.00   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Polaris Inc                                       | POLARIS INC                                | CUSIP: 731068102<br>LEI: 549300QJSN8UVWN1EI78 | Long             | EC               | CORP              | US        |     25209 | NS      | $2875338.54   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares Inc                      | TEXAS CAPITAL BA                           | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |     39434 | NS      | $2365645.66   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Sportswear Co                            | COLUMBIA SPORTSW                           | CUSIP: 198516106<br>LEI: 549300OTMCIEUXAH5Z60 | Long             | EC               | CORP              | US        |     13130 | NS      | $1176316.70   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group Co                         | PERFORMANCE FOOD                           | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |    122495 | NS      | $7469745.10   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Grand Canyon Education Inc                        | GRAND CANYON EDU                           | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |     25251 | NS      | $2855130.57   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors Inc                                 | CLEAN HARBORS                              | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |     16279 | NS      | $1953480.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Ciena Corp                                        | CIENA CORP                                 | CUSIP: 171779309<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | EC               | CORP              | US        |     43859 | NS      | $1971900.64   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Kemper Corp                                       | KEMPER CORP                                | CUSIP: 488401100<br>LEI: 549300FNI1JKTRY2PV09 | Long             | EC               | CORP              | US        |     50453 | NS      | $2871784.76   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Gap Inc/The                                       | GAP INC/THE                                | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |    168429 | NS      | $2448957.66   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Pebblebrook Hotel Trust                           | PEBBLEBROOK HOTE                           | CUSIP: 70509V100<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EC               | CORP              | US        |    103709 | NS      | $1726754.85   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Westlake Corp                                     | WESTLAKE CORP                              | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | EC               | CORP              | US        |     27287 | NS      | $2937445.55   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunrun Inc                                        | SUNRUN INC                                 | CUSIP: 86771W105<br>LEI: 54930007SJ77CI66U531 | Long             | EC               | CORP              | US        |    167683 | NS      | $5463112.14   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Amkor Technology Inc                              | AMKOR TECH INC                             | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |     46706 | NS      | $1308702.12   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Energizer Holdings Inc                            | ENERGIZER HOLDIN                           | CUSIP: 29272W109<br>LEI: 5493000D6NN0V57UME20 | Long             | EC               | CORP              | US        |     52238 | NS      | $1780793.42   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Dana Inc                                          | DANA INC                                   | CUSIP: 235825205<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | EC               | CORP              | US        |    101171 | NS      | $1781621.31   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Viasat Inc                                        | VIASAT INC                                 | CUSIP: 92552V100<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | EC               | CORP              | US        |     59708 | NS      | $2035445.72   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp                           | WINTRUST FINL                              | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     24010 | NS      | $2195234.30   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc                            | CACI INTL-A                                | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |     18509 | NS      | $5780360.70   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Reinsurance Group of America Inc                  | REINSURANCE GROU                           | CUSIP: 759351604<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EC               | CORP              | US        |     52946 | NS      | $7645402.40   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| LivaNova PLC                                      | LIVANOVA PLC                               | CUSIP: G5509L101<br>LEI: 2138001K2FX6SHK2B339 | Long             | EC               | CORP              | US        |     16896 | NS      | $935531.52    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Cracker Barrel Old Country Store Inc              | CRACKER BARREL                             | CUSIP: 22410J106<br>LEI: 8P4PHQIUWPIECBFBW745 | Long             | EC               | CORP              | US        |     17980 | NS      | $2064104.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Old National Bancorp/IN                           | OLD NATL BANCORP                           | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |    231632 | NS      | $4426487.52   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentex Corp                                       | GENTEX CORP                                | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Long             | EC               | CORP              | US        |     87185 | NS      | $2519646.50   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Macy's Inc                                        | MACY'S INC                                 | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               | CORP              | US        |    213306 | NS      | $5012691.00   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Vontier Corp                                      | VONTIER CORP                               | CUSIP: 928881101<br>LEI: 549300VVSQLG4P5K4639 | Long             | EC               | CORP              | US        |    124885 | NS      | $2451492.55   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| NCR Corp                                          | NCR CORP                                   | CUSIP: 62886E108<br>LEI: 549300YKTY8JX1DV2R67 | Long             | EC               | CORP              | US        |    108337 | NS      | $2586004.19   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Post Holdings Inc                                 | POST HOLDINGS IN                           | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |     42909 | NS      | $4016711.49   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corp                                | KILROY REALTY                              | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |     82988 | NS      | $3586741.36   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Penn Entertainment Inc                            | PENN ENTERTAINME                           | CUSIP: 707569109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    125472 | NS      | $4415359.68   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers Inc                                 | TOLL BROTHERS                              | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |     84375 | NS      | $4042406.25   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| RLI Corp                                          | RLI CORP                                   | CUSIP: 749607107<br>LEI: 529900AMTJE5ECN9PS55 | Long             | EC               | CORP              | US        |     12746 | NS      | $1657872.22   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Instruments Inc                               | MKS INSTRUMENTS                            | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     20315 | NS      | $1703615.90   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ChampionX Corp                                    | CHAMPIONX CORP                             | CUSIP: 15872M104<br>LEI: 549300EP2909K6DYYP38 | Long             | EC               | CORP              | US        |     84977 | NS      | $2620690.68   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| IDACORP Inc                                       | IDACORP INC                                | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |     40007 | NS      | $4421973.71   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Choice Hotels International Inc                   | CHOICE HOTELS                              | CUSIP: 169905106<br>LEI: 5493003CYRY5RFGTIR97 | Long             | EC               | CORP              | US        |      7321 | NS      | $902093.62    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| SL Green Realty Corp                              | SL GREEN REALTY                            | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Long             | EC               | CORP              | US        |     50714 | NS      | $2127959.44   | 0.24%             |  |  |  | No            |                  1 | On Loan: —       |
| Semtech Corp                                      | SEMTECH CORP                               | CUSIP: 816850101<br>LEI: 549300J7WUY317SW6O61 | Long             | EC               | CORP              | US        |     17167 | NS      | $527713.58    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR Inc                                           | KBR INC                                    | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |     38404 | NS      | $1984334.68   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc                             | LANTHEUS HOLDING                           | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |     22248 | NS      | $1381155.84   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Globus Medical Inc                                | GLOBUS MEDICAL I                           | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |     24321 | NS      | $1797078.69   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI Corp                                          | UGI CORP                                   | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |    165513 | NS      | $6397077.45   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontier Communications Parent Inc                | FRONTIER COMMUNI                           | CUSIP: 35909D109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    117962 | NS      | $3039880.74   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Worthington Industries Inc                        | WORTHINGTON INDS                           | CUSIP: 981811102<br>LEI: 1WRCIANKYOIK6KYE5E82 | Long             | EC               | CORP              | US        |     23824 | NS      | $1351773.76   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management Inc                     | ANNALY CAPITAL M                           | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |    340786 | NS      | $7384832.62   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Realty Trust Inc                       | HEALTHCARE REALT                           | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               | CORP              | US        |    153126 | NS      | $3143676.78   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Union Co/The                              | WESTERN UNION                              | CUSIP: 959802109<br>LEI: 28ID94QU1140NC23S047 | Long             | EC               | CORP              | US        |    304447 | NS      | $4463193.02   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ACI Worldwide Inc                                 | ACI WORLDWIDE IN                           | CUSIP: 004498101<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | EC               | CORP              | US        |     47644 | NS      | $995759.60    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| LHC Group Inc                                     | LHC GROUP INC                              | CUSIP: 50187A107<br>LEI: 5299009NPLWAMRQYZX73 | Long             | EC               | CORP              | US        |     24489 | NS      | $4001747.49   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolfspeed Inc                                     | WOLFSPEED INC                              | CUSIP: 977852102<br>LEI: 549300OGU88P3AW3TO93 | Long             | EC               | CORP              | US        |     44005 | NS      | $4000934.60   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| PotlatchDeltic Corp                               | POTLATCHDELTIC C                           | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               | CORP              | US        |     35613 | NS      | $1701945.27   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemours Co/The                                   | CHEMOURS CO                                | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Long             | EC               | CORP              | US        |    122440 | NS      | $3801762.00   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Community Bancorp Inc                    | NY COMM BANCORP                            | CUSIP: 649445103<br>LEI: 529900HVXOTLY61GL030 | Long             | EC               | CORP              | US        |    367936 | NS      | $3440201.60   | 0.38%             |  |  |  | No            |                  1 | On Loan: —       |
| Selective Insurance Group Inc                     | SELECT INS GRP                             | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |     47612 | NS      | $4576465.44   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Hancock Whitney Corp                              | HANCOCK WHITNEY                            | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |     37198 | NS      | $2039938.32   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcoa Corp                                        | ALCOA CORP                                 | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |     85201 | NS      | $4271126.13   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey's General Stores Inc                        | CASEY'S GENERAL                            | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |     29433 | NS      | $7152807.66   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corp                                         | LEAR CORP                                  | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |     46950 | NS      | $6772068.00   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                                     | COHERENT CORP                              | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |     53184 | NS      | $1950257.28   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosperity Bancshares Inc                         | PROSPERITY BNCSH                           | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     72114 | NS      | $5449654.98   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| John Wiley & Sons Inc                             | WILEY JOHN&SON-A                           | CUSIP: 968223206<br>LEI: 5493003XM719UN7E8P64 | Long             | EC               | CORP              | US        |     16982 | NS      | $805116.62    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Home BancShares Inc/AR                            | HOME BANCSHARES                            | CUSIP: 436893200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     94953 | NS      | $2416553.85   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| NorthWestern Corp                                 | NORTHWESTERN COR                           | CUSIP: 668074305<br>LEI: 3BPWMBHR1R9SHUN7J795 | Long             | EC               | CORP              | US        |     44386 | NS      | $2592586.26   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Primerica Inc                                     | PRIMERICA INC                              | CUSIP: 74164M108<br>LEI: 254900621R686KJR7022 | Long             | EC               | CORP              | US        |     11236 | NS      | $1674501.08   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC                          | JAZZ PHARMACEUTI                           | CUSIP: G50871105<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | US        |     49532 | NS      | $7772066.12   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc                               | TEXAS ROADHOUS                             | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |     21164 | NS      | $2102008.48   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Cmt Funds-Vanguard Market Liquidity Fund | Vanguard Market Liquidity Fund             | CUSIP: N/A<br>LEI: 1I6HV0TLSTR3A4XQ6L78       | Long             | STIV             | CORP              | US        |     36154 | NS      | $3615067.36   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodward Inc                                      | WOODWARD INC                               | CUSIP: 980745103<br>LEI: YPYKXXTR8TFDH54ZMB45 | Long             | EC               | CORP              | US        |     47475 | NS      | $4548105.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryder System Inc                                  | RYDER SYSTEM INC                           | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | EC               | CORP              | US        |     40404 | NS      | $3777369.96   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Thor Industries Inc                               | THOR INDUSTRIES                            | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Long             | EC               | CORP              | US        |     43031 | NS      | $3706690.34   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Adient PLC                                        | ADIENT PLC                                 | CUSIP: G0084W101<br>LEI: 5493002QLDY8O75RTR78 | Long             | EC               | CORP              | US        |     74897 | NS      | $2916489.18   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| AptarGroup Inc                                    | APTARGROUP INC                             | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |     27865 | NS      | $2957591.10   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corp                                | FIRST HORIZON CO                           | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |    423874 | NS      | $10533268.90  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                                    | EPR PROPERTIES                             | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |     59308 | NS      | $2467805.88   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Macerich Co/The                                   | MACERICH CO                                | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               | CORP              | US        |    169458 | NS      | $2152116.60   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group Inc                                   | EMCOR GROUP INC                            | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |     39005 | NS      | $6041874.50   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT Inc                        | SABRA HEALTH CAR                           | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |    182508 | NS      | $2356178.28   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Envestnet Inc                                     | ENVESTNET INC                              | CUSIP: 29404K106<br>LEI: 549300HLWZ5OKIDM8737 | Long             | EC               | CORP              | US        |     20448 | NS      | $1206840.96   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| RXO Inc                                           | RXO INC                                    | CUSIP: 74982T103<br>LEI: 549300KL8CA6GP8XPM30 | Long             | EC               | CORP              | US        |     90676 | NS      | $1722844.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corp                                      | VISTEON CORP                               | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |     22196 | NS      | $3258372.80   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwestern Energy Co                            | SOUTHWESTRN ENGY                           | CUSIP: 845467109<br>LEI: EFWMP121W54QV9MGOP87 | Long             | EC               | CORP              | US        |    317295 | NS      | $2195681.40   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| National Fuel Gas Co                              | NATL FUEL GAS CO                           | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     34709 | NS      | $2298777.07   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| JetBlue Airways Corp                              | JETBLUE AIRWAYS                            | CUSIP: 477143101<br>LEI: 54930070J9H97ZO93T57 | Long             | EC               | CORP              | US        |    255483 | NS      | $2033644.68   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Hermes Inc                              | FEDERATED HERMES                           | CUSIP: 314211103<br>LEI: R05X5UQ874RGFF7HHD84 | Long             | EC               | CORP              | US        |     35377 | NS      | $1342910.92   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Apartment Income REIT Corp                        | APARTMENT INCOME                           | CUSIP: 03750L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     64575 | NS      | $2457078.75   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Novanta Inc                                       | NOVANTA INC                                | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9833 | NS      | $1551155.75   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| IAA Inc                                           | IAA INC                                    | CUSIP: 449253103<br>LEI: 549300PZCOPC5178W747 | Long             | EC               | CORP              | US        |     48554 | NS      | $1814462.98   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott Vacations Worldwide Corp                 | MARRIOTT VACATIO                           | CUSIP: 57164Y107<br>LEI: 549300WA6BT5H4F7IO94 | Long             | EC               | CORP              | US        |     17077 | NS      | $2544131.46   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprouts Farmers Market Inc                        | SPROUTS FARMERS                            | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |     84899 | NS      | $2914582.67   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank OZK                                          | BANK OZK                                   | CUSIP: 06417N103<br>LEI: 549300VYK2WBD7SST478 | Long             | EC               | CORP              | US        |     46732 | NS      | $2156681.80   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Emmett Inc                                | DOUGLAS EMMETT                             | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     74828 | NS      | $1296020.96   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Corporate Office Properties Trust                 | CORP OFFICE PROP                           | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               | CORP              | US        |     88872 | NS      | $2467975.44   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Cabot Corp                                        | CABOT CORP                                 | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Long             | EC               | CORP              | US        |     44418 | NS      | $3270053.16   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| JBG SMITH Properties                              | JBG SMITH PROPER                           | CUSIP: 46590V100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     78468 | NS      | $1617225.48   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| EnerSys                                           | ENERSYS                                    | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |     32190 | NS      | $2432920.20   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TripAdvisor Inc                                   | TRIPADVISOR INC                            | CUSIP: 896945201<br>LEI: 549300XVG45PT5BART17 | Long             | EC               | CORP              | US        |     47663 | NS      | $971848.57    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluor Corp                                        | FLUOR CORP                                 | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |    112119 | NS      | $3768319.59   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Umpqua Holdings Corp                              | UMPQUA HOLDINGS                            | CUSIP: 904214103<br>LEI: 5299002ENJ7CY215BW86 | Long             | EC               | CORP              | US        |    107902 | NS      | $2187173.54   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Under Armour Inc                                  | UNDER ARMO-C                               | CUSIP: 904311206<br>LEI: 549300D4549QKWETZ406 | Long             | EC               | CORP              | US        |     88790 | NS      | $774248.80    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennox International Inc                          | LENNOX INTL INC                            | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |     10697 | NS      | $2785819.71   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Cullen/Frost Bankers Inc                          | CULLEN/FROST                               | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |     22270 | NS      | $3230708.90   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO Financial Group Inc                           | CNO FINANCIAL GR                           | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |     90265 | NS      | $2119422.20   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln Electric Holdings Inc                     | LINCOLN ELECTRIC                           | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |     19212 | NS      | $2841070.56   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Co                      | PORTLAND GENERAL                           | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |     70405 | NS      | $3466038.15   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC Investment Corp                              | MGIC INVT CORP                             | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |    239491 | NS      | $3288211.43   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Xerox Holdings Corp                               | XEROX HOLDINGS C                           | CUSIP: 98421M106<br>LEI: 5493000Y33XDVO2CXC18 | Long             | EC               | CORP              | US        |     88388 | NS      | $1441608.28   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Metals Co                              | COMMERCIAL METAL                           | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |     95093 | NS      | $4680477.46   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Hotels & Resorts Inc                         | PARK H&R INC                               | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               | CORP              | US        |    177778 | NS      | $2280891.74   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensient Technologies Corp                        | SENSIENT TECHNOL                           | CUSIP: 81725T100<br>LEI: CMMZHMFZQG86EI7WZU92 | Long             | EC               | CORP              | US        |     14247 | NS      | $1064393.37   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus Henderson Group PLC                         | JANUS HENDERSON                            | CUSIP: G4474Y214<br>LEI: 2138009WPYMWJN3RVF44 | Long             | EC               | CORP              | US        |     56423 | NS      | $1426937.67   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Holdings Inc          | KNIGHT-SWIFT TRA                           | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    127056 | NS      | $7042714.08   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Valley National Bancorp                           | VALLEY NATL BANC                           | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |    332821 | NS      | $4213513.86   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corp                                  | BLACK HILLS CORP                           | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |     51338 | NS      | $3677340.94   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO Corp                                         | AGCO CORP                                  | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |     48941 | NS      | $6495449.52   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Cirrus Logic Inc                                  | CIRRUS LOGIC INC                           | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |     22953 | NS      | $1714818.63   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier Inc                                      | RAYONIER INC                               | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |     46222 | NS      | $1658445.36   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Essent Group Ltd                                  | ESSENT GROUP LTD                           | CUSIP: G3198U102<br>LEI: 254900QUO860OUT6ZF83 | Long             | EC               | CORP              | US        |     84998 | NS      | $3407569.82   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackbaud Inc                                     | BLACKBAUD INC                              | CUSIP: 09227Q100<br>LEI: 54930056X3HKFMNG3754 | Long             | EC               | CORP              | US        |     12312 | NS      | $729732.24    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| RenaissanceRe Holdings Ltd                        | RENAISSANCERE                              | CUSIP: G7496G103<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EC               | CORP              | US        |     34540 | NS      | $6524951.40   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexcel Corp                                       | HEXCEL CORP                                | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | EC               | CORP              | US        |     66364 | NS      | $3978521.80   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| World Wrestling Entertainment Inc                 | WORLD WRESTLIN-A                           | CUSIP: 98156Q108<br>LEI: 549300WZVLSCS3L4L698 | Long             | EC               | CORP              | US        |     13062 | NS      | $1043392.56   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Avnet Inc                                         | AVNET INC                                  | CUSIP: 053807103<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | EC               | CORP              | US        |     74715 | NS      | $3374876.55   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Inc                                       | HUBBELL INC                                | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |     19488 | NS      | $4951121.28   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Travel + Leisure Co                               | TRAVEL + LEISURE                           | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | EC               | CORP              | US        |     66258 | NS      | $2575448.46   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Lithia Motors Inc                                 | LITHIA MOTORS                              | CUSIP: 536797103<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | EC               | CORP              | US        |     21764 | NS      | $5208342.84   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Leggett & Platt Inc                               | LEGGETT & PLATT                            | CUSIP: 524660107<br>LEI: DKOVQUCDW4ZLYCUD4T55 | Long             | EC               | CORP              | US        |    104911 | NS      | $3735880.71   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Landstar System Inc                               | LANDSTAR SYSTEM                            | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |     10062 | NS      | $1740524.76   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoNation Inc                                    | AUTONATION INC                             | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16156 | NS      | $2001889.96   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashland Inc                                       | ASHLAND INC                                | CUSIP: 044186104<br>LEI: 529900E4L9R04SB8HB11 | Long             | EC               | CORP              | US        |     22443 | NS      | $2510698.41   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Financial Inc                                | VOYA FINANCIAL I                           | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |     77448 | NS      | $5110019.04   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Vishay Intertechnology Inc                        | VISHAY INTERTECH                           | CUSIP: 928298108<br>LEI: 5493009O8F3QQJTCQR75 | Long             | EC               | CORP              | US        |    103032 | NS      | $2373857.28   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Foot Locker Inc                                   | FOOT LOCKER INC                            | CUSIP: 344849104<br>LEI: 549300X383CBNP6MTV94 | Long             | EC               | CORP              | US        |     63549 | NS      | $2529250.20   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Goodyear Tire & Rubber Co/The                     | GOODYEAR TIRE                              | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Long             | EC               | CORP              | US        |    223447 | NS      | $2507075.34   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Healthcare Co Inc                          | ACADIA HEALTHCAR                           | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Long             | EC               | CORP              | US        |     71794 | NS      | $6393973.64   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Financial Corp                     | FIRST AMERICAN F                           | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |     44569 | NS      | $2435695.85   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Kennametal Inc                                    | KENNAMETAL INC                             | CUSIP: 489170100<br>LEI: 549300GZDSG25XUV0Y08 | Long             | EC               | CORP              | US        |     64170 | NS      | $1695371.40   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| United Bankshares Inc/WV                          | UNITED BANKSHS                             | CUSIP: 909907107<br>LEI: 5299005O3BAMJ9Z92V62 | Long             | EC               | CORP              | US        |    106422 | NS      | $4564439.58   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Associated Banc-Corp                              | ASSOC BANC-CORP                            | CUSIP: 045487105<br>LEI: 549300N3CIN473IW5094 | Long             | EC               | CORP              | US        |    118667 | NS      | $2919208.20   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonoco Products Co                                | SONOCO PRODUCTS                            | CUSIP: 835495102<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | EC               | CORP              | US        |     77134 | NS      | $4733713.58   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Science Applications International Corp           | SCIENCE APPLICAT                           | CUSIP: 808625107<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | EC               | CORP              | US        |     44023 | NS      | $4847372.53   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| GATX Corp                                         | GATX CORP                                  | CUSIP: 361448103<br>LEI: 549300IHYHCQP2PIR591 | Long             | EC               | CORP              | US        |     27863 | NS      | $3141553.25   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| International Bancshares Corp                     | INTL BANCSHARES                            | CUSIP: 459044103<br>LEI: 549300Y16R531AU8TX77 | Long             | EC               | CORP              | US        |     41731 | NS      | $2198389.08   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| New Jersey Resources Corp                         | NEW JERSEY RES                             | CUSIP: 646025106<br>LEI: 549300QKBSQBIX4DQ583 | Long             | EC               | CORP              | US        |     76093 | NS      | $3785626.75   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane Holdings Co                                 | CRANE HOLDINGS C                           | CUSIP: 224441105<br>LEI: 549300EXNPSXEWUD3N21 | Long             | EC               | CORP              | US        |     19190 | NS      | $2032988.60   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Wendy's Co/The                                    | WENDY'S CO/THE                             | CUSIP: 95058W100<br>LEI: 529900M0JIUCMWVKHG76 | Long             | EC               | CORP              | US        |     67146 | NS      | $1514813.76   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MDU Resources Group Inc                           | MDU RES GROUP                              | CUSIP: 552690109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    160482 | NS      | $5053578.18   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Silgan Holdings Inc                               | SILGAN HOLDINGS                            | CUSIP: 827048109<br>LEI: KAF673KJXD92C8KSLU49 | Long             | EC               | CORP              | US        |     66097 | NS      | $3496531.30   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Synovus Financial Corp                            | SYNOVUS FINL                               | CUSIP: 87161C501<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EC               | CORP              | US        |     68871 | NS      | $2901535.23   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Belden Inc                                        | BELDEN INC                                 | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |     34395 | NS      | $2766733.80   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corp                                   | FAIR ISAAC CORP                            | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |      8386 | NS      | $5196971.92   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                                     | OWENS CORNING                              | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |     76077 | NS      | $6758680.68   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Pilgrim's Pride Corp                              | PILGRIM'S PRIDE                            | CUSIP: 72147K108<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | EC               | CORP              | US        |     35831 | NS      | $937338.96    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronet Worldwide Inc                             | EURONET WORLDWID                           | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |     24533 | NS      | $2280342.35   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse Inc                                    | LITTELFUSE INC                             | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |      7420 | NS      | $1829030.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| R1 RCM Inc                                        | R1 RCM INC                                 | CUSIP: 77634L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45468 | NS      | $411485.40    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp                            | WEBSTER FINL                               | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |     81883 | NS      | $4449522.22   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| XPO Logistics Inc                                 | XPO LOGISTICS IN                           | CUSIP: 983793100<br>LEI: 54930096DB9LCLPN7H13 | Long             | EC               | CORP              | US        |     90801 | NS      | $3506734.62   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Greif Inc                                         | GREIF INC-CL A                             | CUSIP: 397624107<br>LEI: 54930070FVGKR0Z1FI24 | Long             | EC               | CORP              | US        |     21005 | NS      | $1476861.55   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Donaldson Co Inc                                  | DONALDSON CO INC                           | CUSIP: 257651109<br>LEI: OZE6KXY9QQPR8EJ8WL20 | Long             | EC               | CORP              | US        |     47816 | NS      | $2912950.72   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Stericycle Inc                                    | STERICYCLE INC                             | CUSIP: 858912108<br>LEI: B8PTJH2P0AXSWSMP2136 | Long             | EC               | CORP              | US        |     72743 | NS      | $3792092.59   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| MasTec Inc                                        | MASTEC INC                                 | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |     22795 | NS      | $2070469.85   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanesbrands Inc                                   | HANESBRANDS INC                            | CUSIP: 410345102<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | EC               | CORP              | US        |    275351 | NS      | $1850358.72   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Graco Inc                                         | GRACO INC                                  | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |     53593 | NS      | $3749902.21   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstCash Holdings Inc                            | FIRSTCASH HOLDIN                           | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30073 | NS      | $2822651.78   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX Corp                                    | TD SYNNEX CORP                             | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |     33283 | NS      | $3404850.90   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | S&P MID 400 EMINI Dec22                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |         5 | NC      | $38962.25     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV Inc                                           | NOV INC                                    | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |    310451 | NS      | $6972729.46   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirby Corp                                        | KIRBY CORP                                 | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |     47271 | NS      | $3299043.09   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc                                   | FIRST SOLAR INC                            | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |     32126 | NS      | $5542698.78   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc                    | OMEGA HEALTHCARE                           | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |    185043 | NS      | $5603102.04   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Bank                                      | CADENCE BANK                               | CUSIP: 12740C103<br>LEI: Q7C315HKI8VX0SSKBS64 | Long             | EC               | CORP              | US        |    144010 | NS      | $4153248.40   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowserve Corp                                    | FLOWSERVE CORP                             | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |    103153 | NS      | $3234878.08   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| FNB Corp/PA                                       | FNB CORP                                   | CUSIP: 302520101<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | EC               | CORP              | US        |    277437 | NS      | $3911861.70   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| ICU Medical Inc                                   | ICU MEDICAL                                | CUSIP: 44930G107<br>LEI: 5493003NRW7LS2QZRH60 | Long             | EC               | CORP              | US        |      8423 | NS      | $1341194.29   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Genpact Ltd                                       | GENPACT LTD                                | CUSIP: G3922B107<br>LEI: 529900OSEC6Q0L4L5B35 | Long             | EC               | CORP              | US        |     45292 | NS      | $2088414.12   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Nordstrom Inc                                     | NORDSTROM INC                              | CUSIP: 655664100<br>LEI: 549300S3IZB5P35KNV16 | Long             | EC               | CORP              | US        |     88694 | NS      | $1859913.18   | 0.21%             |  |  |  | No            |                  1 | On Loan: —       |
| Cable One Inc                                     | CABLE ONE INC                              | CUSIP: 12685J105<br>LEI: 549300648QS85T0XSH18 | Long             | EC               | CORP              | US        |      1621 | NS      | $1174074.09   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| RPM International Inc                             | RPM INTL INC                               | CUSIP: 749685103<br>LEI: 549300TJCKW4BRXPJ474 | Long             | EC               | CORP              | US        |     50002 | NS      | $5181207.24   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Victoria's Secret & Co                            | VICTORIA'S SECRE                           | CUSIP: 926400102<br>LEI: 5493006T3O70U3UWVF17 | Long             | EC               | CORP              | US        |     33423 | NS      | $1537458.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| National Instruments Corp                         | NATL INSTRUMENTS                           | CUSIP: 636518102<br>LEI: 549300TP4OOPCYWDUP86 | Long             | EC               | CORP              | US        |     49024 | NS      | $2010964.48   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowers Foods Inc                                 | FLOWERS FOODS                              | CUSIP: 343498101<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | EC               | CORP              | US        |    152558 | NS      | $4584367.90   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ's Wholesale Club Holdings Inc                  | BJ'S WHOLESALE C                           | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |    106805 | NS      | $8036008.20   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Neogen Corp                                       | NEOGEN CORP                                | CUSIP: 640491106<br>LEI: 549300HJT9FC36N4UW43 | Long             | EC               | CORP              | US        |     71588 | NS      | $1185497.28   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp                               | CURTISS-WRIGHT                             | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |     30350 | NS      | $5361327.50   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawaiian Electric Industries Inc                  | HAWAIIAN ELEC                              | CUSIP: 419870100<br>LEI: JJ8FWOCWCV22X7GUPJ23 | Long             | EC               | CORP              | US        |     86606 | NS      | $3557774.48   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Cmt Funds-Vanguard Market Liquidity Fund | Vanguard Market Liquidity Fund             | CUSIP: N/A<br>LEI: 1I6HV0TLSTR3A4XQ6L78       | Long             | STIV             | CORP              | US        |    110222 | NS      | $11021072.54  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Topgolf Callaway Brands Corp                      | TOPGOLF CALLAWAY                           | CUSIP: 131193104<br>LEI: 5493005UB0KFRKBPCU72 | Long             | EC               | CORP              | US        |    109343 | NS      | $2290735.85   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Range Resources Corp                              | RANGE RESOURCES                            | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |     60623 | NS      | $1750186.01   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| American Financial Group Inc/OH                   | AMER FINL GROUP                            | CUSIP: 025932104<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EC               | CORP              | US        |     29213 | NS      | $4154672.86   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Integra LifeSciences Holdings Corp                | INTEGRA LIFESCIE                           | CUSIP: 457985208<br>LEI: WB7IJCYY8YFTENS4O147 | Long             | EC               | CORP              | US        |     28088 | NS      | $1543154.72   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Times Co/The                             | NEW YORK TIMES-A                           | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |     54831 | NS      | $2009556.15   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Lancaster Colony Corp                             | LANCASTER COLONY                           | CUSIP: 513847103<br>LEI: 529900X4O13HED1ZAS58 | Long             | EC               | CORP              | US        |      8132 | NS      | $1684462.48   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Ollie's Bargain Outlet Holdings Inc               | OLLIE'S BARGAIN                            | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |     45919 | NS      | $2796467.10   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT Corp                                          | ITT INC                                    | CUSIP: 45073V108<br>LEI: YB2O5TUONPB3W1X7WJ88 | Long             | EC               | CORP              | US        |     28719 | NS      | $2427329.88   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Interactive Brokers Group Inc                     | INTERACTIVE BROK                           | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |     30877 | NS      | $2479423.10   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Equitrans Midstream Corp                          | EQUITRANS MIDSTR                           | CUSIP: 294600101<br>LEI: 549300RH0NLJNZ5SXU64 | Long             | EC               | CORP              | US        |    341661 | NS      | $2866535.79   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co                              | LAMAR ADVERTIS-A                           | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |     23445 | NS      | $2347782.30   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Gas Holdings Inc                        | SOUTHWEST GAS HO                           | CUSIP: 844895102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     48638 | NS      | $3329757.48   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-27

**Name of Applicant:** VANGUARD ADMIRAL FUNDS

**Signature:** Ashley Grim

**Name of Signer:** Ashley Grim

**Title:** Treasurer