# EDGAR Filing Document

**Accession Number:** 0001110502
**File Stem:** 0000910472-26-008219
**Filing Date:** 2026-5
**Character Count:** 183333
**Document Hash:** ca3d41820f98ed0d8c62475a32b2a3d8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-008219.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0000910472-26-008219

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HUSSMAN INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0001110502

**ORGANIZATION NAME:**
- **EIN:** 522226627
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09911
- **FILM NUMBER:** 261039376

**BUSINESS ADDRESS:**
- **STREET 1:** C/O ULTIMUS FUND SOLUTIONS, LLC
- **STREET 2:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 513-587-3403

**MAIL ADDRESS:**
- **STREET 1:** C/O ULTIMUS FUND SOLUTIONS, LLC
- **STREET 2:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### Hussman Strategic Market Cycle Fund (Series ID: S000001544)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000004198 | Hussman Strategic Market Cycle Fund | HSGFX           |

## Nport-Ex

---

| |
|:---|
| **HUSSMAN STRATEGIC MARKET CYCLE FUND** |
| **SCHEDULE OF INVESTMENTS** |
| **March 31, 2026 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 109.4%** | **Shares** | **Value** |
| **Communications - 3.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Advertising & Marketing - 0.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade Desk, Inc. (The) - Class A <sup>(a)(b)</sup> | 40000 | $907600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Entertainment Content - 0.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paramount Skydance Corporation - Class B <sup>(a)</sup> | 140000 | 1262800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Internet Media & Services - 2.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lyft, Inc. - Class A <sup>(a)(b)</sup> | 200000 | 2660000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Match Group, Inc. <sup>(a)</sup> | 60000 | 1842600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upwork, Inc. <sup>(a)(b)</sup> | 200000 | 2192000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ziff Davis, Inc. <sup>(a)(b)</sup> | 50000 | 2098000 |
|  |  | 8792600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Telecommunications - 1.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Millicom International Cellular S.A. <sup>(a)</sup> | 16000 | 1199040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Verizon Communications, Inc. <sup>(a)</sup> | 50000 | 2510000 |
|  |  | 3709040 |
| **Consumer Discretionary - 18.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Apparel & Textile Products - 1.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carter's, Inc. <sup>(a)</sup> | 20000 | 715200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PVH Corporation <sup>(a)</sup> | 20000 | 1395200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Steven Madden Ltd. <sup>(a)</sup> | 80000 | 2713600 |
|  |  | 4824000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Automotive - 2.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aptiv plc <sup>(a)(b)</sup> | 36000 | 2499840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Garrett Motion, Inc. <sup>(a)</sup> | 80000 | 1453600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gentex Corporation <sup>(a)</sup> | 60000 | 1311000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Harley-Davidson, Inc. <sup>(a)</sup> | 60000 | 1213200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lear Corporation <sup>(a)</sup> | 10000 | 1210800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rivian Automotive, Inc. - Class A <sup>(a)(b)</sup> | 60000 | 903000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Visteon Corporation <sup>(a)</sup> | 30000 | 2733300 |
|  |  | 11324740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Consumer Services - 0.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PROG Holdings, Inc. <sup>(a)</sup> | 40000 | 1147600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*E-Commerce Discretionary - 1.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Etsy, Inc. <sup>(a)(b)</sup> | 80000 | 3998400 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC MARKET CYCLE FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 109.4% (continued)** | **Shares** | **Value** |
| **Consumer Discretionary - 18.5% (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Home Construction - 0.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forestar Group, Inc. <sup>(a)(b)</sup> | 40000 | $977600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lennar Corporation - Class A <sup>(a)</sup> | 10000 | 868400 |
|  |  | 1846000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Leisure Facilities & Services - 4.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arcos Dorados Holdings, Inc. - Class A <sup>(a)</sup> | 100000 | 825000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carnival Corporation <sup>(a)</sup> | 40000 | 1035200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domino's Pizza, Inc. <sup>(a)</sup> | 6000 | 2152740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hilton Grand Vacations, Inc. <sup>(a)(b)</sup> | 20000 | 782400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Planet Fitness, Inc. - Class A <sup>(a)(b)</sup> | 24000 | 1785120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restaurant Brands International, Inc. <sup>(a)</sup> | 40000 | 2956000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Starbucks Corporation <sup>(a)</sup> | 20000 | 1791800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wingstop, Inc. <sup>(a)</sup> | 16000 | 2479520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wynn Resorts Ltd. <sup>(a)</sup> | 20000 | 2031000 |
|  |  | 15838780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Leisure Products - 0.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;YETI Holdings, Inc. <sup>(a)(b)</sup> | 60000 | 2195400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Retail - Discretionary - 7.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advance Auto Parts, Inc. <sup>(a)</sup> | 40000 | 2110000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Eagle Outfitters, Inc. <sup>(a)</sup> | 200000 | 3340000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Buckle, Inc. (The) <sup>(a)</sup> | 40000 | 2014400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gap, Inc. (The) <sup>(a)</sup> | 100000 | 2420000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hertz Global Holdings, Inc. <sup>(a)(b)</sup> | 300000 | 1383000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kohl's Corporation <sup>(a)</sup> | 200000 | 2580000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Macy's, Inc. <sup>(a)</sup> | 100000 | 1809000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Vision Holdings, Inc. <sup>(a)(b)</sup> | 100000 | 2590000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sally Beauty Holdings, Inc. <sup>(a)(b)</sup> | 200000 | 2770000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Savers Value Village, Inc. <sup>(a)(b)</sup> | 300000 | 2232000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signet Jewelers Ltd. <sup>(a)</sup> | 30000 | 2539200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Urban Outfitters, Inc. <sup>(a)(b)</sup> | 40000 | 2534000 |
|  |  | 28321600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Specialty Retail - 0.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ulta Beauty, Inc. <sup>(a)(b)</sup> | 7000 | 3658970 |
| **Consumer Staples - 13.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Beverages - 0.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coca-Cola Company (The) <sup>(a)</sup> | 20000 | 1521000 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC MARKET CYCLE FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 109.4% (continued)** | **Shares** | **Value** |
| **Consumer Staples - 13.0% (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Beverages - 0.8% (continued)* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PepsiCo, Inc. <sup>(a)</sup> | 10000 | $1552900 |
|  |  | 3073900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Food - 6.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adecoagro S.A. <sup>(a)</sup> | 100000 | 1502000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cal-Maine Foods, Inc. <sup>(a)</sup> | 30000 | 2374500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Campbell's Company (The) <sup>(a)</sup> | 200000 | 4454000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dole plc <sup>(a)</sup> | 140000 | 2000600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Flowers Foods, Inc. <sup>(a)</sup> | 160000 | 1304000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fresh Del Monte Produce, Inc. <sup>(a)</sup> | 40000 | 1610400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Mills, Inc. <sup>(a)</sup> | 60000 | 2233200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Herbalife Ltd. <sup>(a)(b)</sup> | 60000 | 883200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hershey Company (The) <sup>(a)</sup> | 8000 | 1663120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;J.M. Smucker Company (The) <sup>(a)</sup> | 10000 | 964400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kraft Heinz Company (The) <sup>(a)</sup> | 40000 | 899600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nomad Foods Ltd. <sup>(a)</sup> | 160000 | 1537600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Post Holdings, Inc. <sup>(a)(b)</sup> | 6000 | 593160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tootsie Roll Industries, Inc. <sup>(a)</sup> | 61800 | 2640096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vital Farms, Inc. <sup>(a)(b)</sup> | 40000 | 564800 |
|  |  | 25224676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Household Products - 1.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clorox Company (The) <sup>(a)</sup> | 10000 | 1036300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colgate-Palmolive Company <sup>(a)</sup> | 20000 | 1704600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;elf Beauty, Inc. <sup>(a)(b)</sup> | 10000 | 606100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kimberly-Clark Corporation <sup>(a)</sup> | 6000 | 578820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reynolds Consumer Products, Inc. <sup>(a)</sup> | 80000 | 1694400 |
|  |  | 5620220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Retail - Consumer Staples - 2.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dollar General Corporation <sup>(a)</sup> | 30000 | 3561900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Five Below, Inc. <sup>(a)(b)</sup> | 12000 | 2741760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ollie's Bargain Outlet Holdings, Inc. <sup>(a)(b)</sup> | 20000 | 1840800 |
|  |  | 8144460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Wholesale - Consumer Staples - 2.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Company <sup>(a)</sup> | 40000 | 2907600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sysco Corp. <sup>(a)</sup> | 30000 | 2139900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Natural Foods, Inc. <sup>(a)(b)</sup> | 100000 | 4506000 |
|  |  | 9553500 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC MARKET CYCLE FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 109.4% (continued)** | **Shares** | **Value** |
| **Energy - 9.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Oil & Gas Producers - 4.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;APA Corporation <sup>(a)</sup> | 100000 | $4244000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cheniere Energy Partners, L.P. <sup>(a)</sup> | 40000 | 2585200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coterra Energy, Inc. <sup>(a)</sup> | 40000 | 1405600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Devon Energy Corporation <sup>(a)</sup> | 40000 | 2012800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diamondback Energy, Inc. <sup>(a)</sup> | 10000 | 1977900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marathon Petroleum Corporation <sup>(a)</sup> | 4000 | 976720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Par Pacific Holdings, Inc. <sup>(a)(b)</sup> | 40000 | 2505600 |
|  |  | 15707820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Oil & Gas Services & Equipment - 1.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Innovex International, Inc. <sup>(a)(b)</sup> | 40000 | 975600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noble Corporation plc <sup>(a)</sup> | 40000 | 1962800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RPC, Inc. <sup>(a)</sup> | 100000 | 708000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SLB Ltd. <sup>(a)</sup> | 40000 | 2055600 |
|  |  | 5702000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Renewable Energy - 3.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ameresco, Inc. - Class A <sup>(a)(b)</sup> | 120000 | 3060000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canadian Solar, Inc. <sup>(a)(b)</sup> | 160000 | 2216000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Solar, Inc. <sup>(a)(b)</sup> | 10000 | 1972600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shoals Technologies Group, Inc. - Class A <sup>(a)(b)</sup> | 400000 | 2632000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SolarEdge Technologies, Inc. <sup>(a)(b)</sup> | 60000 | 3063000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sunrun, Inc. <sup>(a)(b)</sup> | 100000 | 1356000 |
|  |  | 14299600 |
| **Financials - 8.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Asset Management - 1.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acadian Asset Management, Inc. <sup>(a)</sup> | 40000 | 2176800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federated Hermes, Inc. <sup>(a)</sup> | 10000 | 567100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Patria Investments Ltd. - Class A <sup>(a)</sup> | 80000 | 1008000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;XP, Inc. - Class A <sup>(a)</sup> | 100000 | 1904000 |
|  |  | 5655900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Banking - 1.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banco Latinoamericano de Comercio Exterior S.A. - Class E <sup>(a)</sup> | 20000 | 1021600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BankUnited, Inc. <sup>(a)</sup> | 30000 | 1354800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup, Inc. <sup>(a)</sup> | 10000 | 1134100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Valley National Bancorp <sup>(a)</sup> | 140000 | 1719200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Alliance Bancorp <sup>(a)</sup> | 20000 | 1417000 |
|  |  | 6646700 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC MARKET CYCLE FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 109.4% (continued)** | **Shares** | **Value** |
| **Financials - 8.1% (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Institutional Financial Services - 1.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Northern Trust Corporation <sup>(a)</sup> | 14000 | $1953980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State Street Corporation <sup>(a)</sup> | 10000 | 1265600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;StoneX Group, Inc. <sup>(a)(b)</sup> | 21000 | 1693650 |
|  |  | 4913230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Insurance - 2.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allstate Corporation (The) <sup>(a)</sup> | 8000 | 1658720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNA Financial Corporation <sup>(a)</sup> | 20000 | 918400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hamilton Insurance Group Ltd. - Class B <sup>(a)(b)</sup> | 60000 | 1789800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mercury General Corporation <sup>(a)</sup> | 20000 | 1763000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palomar Holdings, Inc. <sup>(a)(b)</sup> | 10000 | 1195000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RenaissanceRe Holdings Ltd. <sup>(a)</sup> | 4000 | 1188920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SiriusPoint Ltd. <sup>(a)(b)</sup> | 40000 | 861600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Travelers Companies, Inc. (The) <sup>(a)</sup> | 4000 | 1166720 |
|  |  | 10542160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Specialty Finance - 1.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bread Financial Holdings, Inc. <sup>(a)</sup> | 30000 | 2246700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Synchrony Financial <sup>(a)</sup> | 30000 | 2040600 |
|  |  | 4287300 |
| **Health Care - 23.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Biotech & Pharma - 15.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACADIA Pharmaceuticals, Inc. <sup>(a)(b)</sup> | 160000 | 3561600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amgen, Inc. <sup>(a)</sup> | 5000 | 1759250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amphastar Pharmaceuticals, Inc. <sup>(a)(b)</sup> | 60000 | 1175400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AnaptysBio, Inc. <sup>(a)(b)</sup> | 20000 | 1109200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ANI Pharmaceuticals, Inc. <sup>(a)(b)</sup> | 50000 | 3845000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ascendis Pharma A/S - ADR <sup>(b)</sup> | 8000 | 1829840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aurinia Pharmaceuticals, Inc. <sup>(a)(b)</sup> | 80000 | 1185600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Biogen, Inc. <sup>(a)(b)</sup> | 6000 | 1099980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Catalyst Pharmaceuticals, Inc. <sup>(a)(b)</sup> | 80000 | 1980800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collegium Pharmaceutical, Inc. <sup>(a)(b)</sup> | 100000 | 3307000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corcept Therapeutics, Inc. <sup>(a)(b)</sup> | 120000 | 4837200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exelixis, Inc. <sup>(a)(b)</sup> | 40000 | 1715600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. <sup>(a)</sup> | 10000 | 1393700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Halozyme Therapeutics, Inc. <sup>(a)(b)</sup> | 50000 | 3231500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Harmony Biosciences Holdings, Inc. <sup>(a)(b)</sup> | 80000 | 2240800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Immunocore Holdings plc - ADR <sup>(b)</sup> | 60000 | 1809000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incyte Corporation <sup>(a)(b)</sup> | 30000 | 2823600 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC MARKET CYCLE FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 109.4% (continued)** | **Shares** | **Value** |
| **Health Care - 23.6% (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Biotech & Pharma - 15.6% (continued)* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Innoviva, Inc. <sup>(a)(b)</sup> | 140000 | $3262000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jazz Pharmaceuticals plc <sup>(a)(b)</sup> | 4000 | 756200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kiniksa Pharmaceuticals International plc <sup>(a)(b)</sup> | 20000 | 963000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monte Rosa Therapeutics, Inc. <sup>(a)(b)</sup> | 60000 | 987000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neurocrine Biosciences, Inc. <sup>(a)(b)</sup> | 20000 | 2634800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novavax, Inc. <sup>(a)(b)</sup> | 40000 | 325600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nuvation Bio, Inc. <sup>(a)(b)</sup> | 100000 | 429000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pfizer, Inc. <sup>(a)</sup> | 40000 | 1123200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phathom Pharmaceuticals, Inc. <sup>(a)(b)</sup> | 80000 | 888800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phibro Animal Health Corporation - Class A | 40000 | 2212400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Praxis Precision Medicines, Inc. <sup>(a)(b)</sup> | 4000 | 1288760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Protagonist Therapeutics, Inc. <sup>(a)(b)</sup> | 10000 | 1054000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Royalty Pharma plc - Class A <sup>(a)</sup> | 20000 | 959400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Septerna, Inc. <sup>(a)(b)</sup> | 100000 | 2403000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stoke Therapeutics, Inc. <sup>(a)(b)</sup> | 80000 | 2604800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tarsus Pharmaceuticals, Inc. <sup>(a)(b)</sup> | 16000 | 1122400 |
|  |  | 61919430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Health Care Facilities & Services - 4.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Astrana Health, Inc. <sup>(a)(b)</sup> | 60000 | 1471200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Concentra Group Holdings Parent, Inc. <sup>(a)</sup> | 60000 | 1287000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVS Health Corporation <sup>(a)</sup> | 40000 | 2872800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guardian Pharmacy Services, Inc. - Class A <sup>(a)(b)</sup> | 20000 | 753200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Humana, Inc. <sup>(a)</sup> | 10000 | 1733900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medpace Holdings, Inc. <sup>(a)(b)</sup> | 6000 | 2881140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pediatrix Medical Group, Inc. <sup>(a)(b)</sup> | 60000 | 1283400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Progyny, Inc. <sup>(a)(b)</sup> | 200000 | 3396000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Universal Health Services, Inc. - Class B <sup>(a)</sup> | 10000 | 1789700 |
|  |  | 17468340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Medical Equipment & Devices - 3.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10X Genomics, Inc. - Class A <sup>(a)(b)</sup> | 60000 | 1273800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Align Technology, Inc. <sup>(b)</sup> | 10000 | 1714300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DexCom, Inc. <sup>(b)</sup> | 10000 | 628000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Haemonetics Corporation <sup>(a)(b)</sup> | 10000 | 563600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inspire Medical Systems, Inc. <sup>(a)(b)</sup> | 10000 | 515800 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC MARKET CYCLE FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 109.4% (continued)** | **Shares** | **Value** |
| **Health Care - 23.6% (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Medical Equipment & Devices - 3.6% (continued)* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iRhythm Technologies, Inc. <sup>(a)(b)</sup> | 28000 | $3304560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;QIAGEN N.V. <sup>(a)</sup> | 80000 | 3203200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TransMedics Group, Inc. <sup>(a)(b)</sup> | 30000 | 2982300 |
|  |  | 14185560 |
| **Industrials - 8.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Aerospace & Defense - 0.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amprius Technologies, Inc. <sup>(a)(b)</sup> | 140000 | 2360400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Commercial Support Services - 2.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cimpress plc <sup>(a)(b)</sup> | 20000 | 1460000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Healthcare Services Group, Inc. <sup>(a)(b)</sup> | 160000 | 2968000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TriNet Group, Inc. <sup>(a)</sup> | 20000 | 728600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UL Solutions, Inc. - Class A <sup>(a)</sup> | 30000 | 2571300 |
|  |  | 7727900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Electrical Equipment - 1.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allegion plc <sup>(a)</sup> | 20000 | 2905800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nextpower, Inc. - Class A <sup>(a)(b)</sup> | 16000 | 1928800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sensata Technologies Holding plc <sup>(a)</sup> | 40000 | 1408800 |
|  |  | 6243400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Engineering & Construction - 0.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Frontdoor, Inc. <sup>(a)(b)</sup> | 30000 | 1585800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IHS Holding Ltd. <sup>(a)(b)</sup> | 100000 | 823000 |
|  |  | 2408800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Industrial Intermediate Products - 0.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proto Labs, Inc. <sup>(a)(b)</sup> | 50000 | 2851000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Industrial Support Services - 0.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MSC Industrial Direct Company, Inc. - Class A <sup>(a)</sup> | 10000 | 922700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Machinery - 0.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Power Solutions International, Inc. <sup>(a)(b)</sup> | 60000 | 3652800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Transportation & Logistics - 2.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Airlines Group, Inc. <sup>(a)(b)</sup> | 200000 | 2148000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Copa Holdings S.A. - Class A <sup>(a)</sup> | 10000 | 1136100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expeditors International of Washington, Inc. <sup>(a)</sup> | 10000 | 1432300 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC MARKET CYCLE FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 109.4% (continued)** | **Shares** | **Value** |
| **Industrials - 8.7% (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Transportation & Logistics - 2.1% (continued)* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FLEX LNG Ltd. <sup>(a)</sup> | 40000 | $1188400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Teekay Corporation Ltd. | 60000 | 732600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Teekay Tankers Ltd. - Class A <sup>(a)</sup> | 20000 | 1466400 |
|  |  | 8103800 |
| **Materials - 1.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Chemicals - 0.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mosaic Company (The) | 80000 | 2040000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Metals & Mining - 0.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Agnico Eagle Mines Ltd. <sup>(a)</sup> | 2000 | 405960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alamos Gold, Inc. - Class A <sup>(a)</sup> | 4000 | 177720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AngloGold Ashanti plc <sup>(a)</sup> | 2000 | 194720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aura Minerals, Inc. <sup>(a)</sup> | 6000 | 489600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barrick Mining Corporation <sup>(a)</sup> | 10000 | 407900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hecla Mining Company <sup>(a)</sup> | 2000 | 37260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinross Gold Corporation <sup>(a)</sup> | 4000 | 122080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Newmont Corporation <sup>(a)</sup> | 4000 | 433000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pan American Silver Corporation <sup>(a)</sup> | 4000 | 218520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Royal Gold, Inc. <sup>(a)</sup> | 1000 | 254490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SSR Mining, Inc. <sup>(a)(b)</sup> | 10000 | 294000 |
|  |  | 3035250 |
| **Real Estate - 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*REITs - 0.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alexander's, Inc. <sup>(a)</sup> | 6000 | 1417200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diversified Healthcare Trust <sup>(a)</sup> | 100000 | 664000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SBA Communications Corporation - Class A <sup>(a)</sup> | 8000 | 1376880 |
|  |  | 3458080 |
| **Technology - 18.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Semiconductors - 2.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACM Research, Inc. - Class A <sup>(a)(b)</sup> | 60000 | 2361000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Axcelis Technologies, Inc. <sup>(a)(b)</sup> | 20000 | 1861600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cirrus Logic, Inc. <sup>(a)(b)</sup> | 20000 | 2892400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Universal Display Corporation | 10000 | 916600 |
|  |  | 8031600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Software - 8.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adobe, Inc. <sup>(a)(b)</sup> | 10000 | 2430800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Akamai Technologies, Inc. <sup>(a)(b)</sup> | 10000 | 1148500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AppFolio, Inc. - Class A <sup>(a)(b)</sup> | 4000 | 631280 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC MARKET CYCLE FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 109.4% (continued)** | **Shares** | **Value** |
| **Technology - 18.9% (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Software - 8.8% (continued)* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackLine, Inc. <sup>(a)(b)</sup> | 40000 | $1480000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check Point Software Technologies Ltd. <sup>(a)(b)</sup> | 20000 | 2857000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clear Secure, Inc. - Class A <sup>(a)</sup> | 50000 | 2420500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Concentrix Corporation <sup>(a)</sup> | 140000 | 3830400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Doximity, Inc. - Class A <sup>(a)(b)</sup> | 20000 | 466000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dropbox, Inc. - Class A <sup>(a)(b)</sup> | 40000 | 908800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Duolingo, Inc. <sup>(a)(b)</sup> | 10000 | 985700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fastly, Inc. - Class A <sup>(a)(b)</sup> | 100000 | 2906000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GigaCloud Technology, Inc. - Class A <sup>(a)(b)</sup> | 30000 | 1361400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monday.com Ltd. <sup>(a)(b)</sup> | 10000 | 691100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MongoDB, Inc. <sup>(a)(b)</sup> | 10000 | 2447700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nutex Health, Inc. <sup>(a)(b)</sup> | 20000 | 1900800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paycom Software, Inc. <sup>(a)</sup> | 16000 | 1944640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Qualys, Inc. <sup>(a)(b)</sup> | 40000 | 3514000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SPS Commerce, Inc. <sup>(a)(b)</sup> | 10000 | 556700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UiPath, Inc. - Class A <sup>(a)(b)</sup> | 200000 | 2220000 |
|  |  | 34701320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Technology Hardware - 3.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credo Technology Group Holding Ltd. <sup>(b)</sup> | 20000 | 1877400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ingram Micro Holding Corporation <sup>(a)</sup> | 100000 | 2331000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;InterDigital, Inc. <sup>(a)</sup> | 6000 | 1812000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ubiquiti, Inc. <sup>(a)</sup> | 4000 | 3161160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Viasat, Inc. <sup>(a)(b)</sup> | 70000 | 3206000 |
|  |  | 12387560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Technology Services - 5.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cognizant Technology Solutions Corporation - Class A <sup>(a)</sup> | 20000 | 1227000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;dLocal Ltd. <sup>(a)(b)</sup> | 200000 | 2594000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EPAM Systems, Inc. <sup>(a)(b)</sup> | 20000 | 2708000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Flywire Corporation <sup>(a)(b)</sup> | 200000 | 2328000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ICF International, Inc. <sup>(a)</sup> | 10000 | 652900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Matrix IT Ltd. | 35269 | 964960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maximus, Inc. <sup>(a)</sup> | 40000 | 2564000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pagseguro Digital Ltd. - Class A <sup>(a)</sup> | 200000 | 2004000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sezzle, Inc. <sup>(a)(b)</sup> | 60000 | 3797400 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC MARKET CYCLE FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **COMMON STOCKS - 109.4% (continued)** | | **Shares** | **Value** |
| **Technology - 18.9% (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Technology Services - 5.0% (continued)* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Union Company (The) <sup>(a)</sup> |  | 100000 | $873000 |
|  |  |  | 19713260 |
| **Utilities - 3.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Electric Utilities - 3.1%* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AES Corporation (The) <sup>(a)</sup> |  | 100000 | 1409000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Infrastructure Partners, L.P. <sup>(a)</sup> |  | 80000 | 2889600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Renewable Corporation <sup>(a)</sup> |  | 50000 | 1991500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fluence Energy, Inc. <sup>(a)(b)</sup> |  | 200000 | 2752000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Talen Energy Corporation <sup>(a)(b)</sup> |  | 10000 | 3192300 |
|  |  |  | 12234400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Gas & Water Utilities - 0.6%* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Essential Utilities, Inc. <sup>(a)</sup> |  | 60000 | 2416200 |
| **Total Common Stocks** (Cost $427,836,996) |  |  | $433060796 |
| **WARRANTS - 0.0% <sup>(c)</sup>** |  | **Shares** | **Value** |
| **Energy** - **0.0% <sup>(c)</sup>** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Oil & Gas Services & Equipment* - *0.0%* <sup>(c)</sup>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nabors Industries Ltd., expires 06/11/2026 (Cost $0) |  | 8000 | $3104 |
| **EXCHANGE-TRADED PUT OPTION CONTRACTS - 3.1%** | **Contracts** | **Notional Amount** | **Value** |
| Russell 2000<sup>®</sup> Index Option, 05/18/2026 at $2,450 | 750 | $187223250 | $5895000 |
| S&P 500<sup>®</sup> Index Option, 05/18/2026 at $6,500 | 360 | 235026720 | 6242400 |
| **Total Put Option Contracts** (Cost $14,543,515) |  | $422249970 | $12137400 |
| **Total Investments at Value - 112.5%** <br> (Cost $442,380,511) |  |  | $445201300 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC MARKET CYCLE FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **MONEY MARKET FUNDS - 39.8%** | **Shares** | **Value** |
| Invesco Treasury Portfolio - Institutional Class, 3.56% <sup>(d)</sup> (Cost $157,492,029) | 157492029 | $157492029 |
| **Total Investments and Money Market Funds at Value - 152.3%** (Cost $599,872,540) |  | $602693329 |
| **Written Call Option Contracts - (53.2%)** |  | (210630900) |
| **Other Assets in Excess of Liabilities - 0.9%** |  | 3637562 |
| **Net Assets - 100.0%** |  | $395699991 |

---

ADR - American Depositary Receipt.

<sup>(a)</sup> All or portion of the security is used as collateral to cover written call options. The total value of the securities held as collateral as of March 31, 2026 was $419,599,540.

<sup>(b)</sup> Non-income producing security.

<sup>(c)</sup> Percentage rounds to less than 0.1%.

<sup>(d)</sup> The rate shown is the 7-day effective yield as of March 31, 2026.

---

| |
|:---|
| **HUSSMAN STRATEGIC MARKET CYCLE FUND** |
| **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS** |
| **March 31, 2026 (Unaudited)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **EXCHANGE-TRADED<br> WRITTEN CALL<br> OPTION CONTRACTS** | **Contracts** | **Notional<br> Amount** | **Strike Price** | **Expiration<br> Date** | **Value of Options** |
| **Call Option Contracts** | **Call Option Contracts** | **Call Option Contracts** | **Call Option Contracts** | **Call Option Contracts** | **Call Option Contracts** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Russell 2000<sup>®</sup> Index Option | 750 | $187223250 | $1200 | 06/22/2026 | $97504500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;S&P 500<sup>®</sup> Index Option | 360 | 235026720 | 3400 | 06/22/2026 | 113126400 |
| **Total Written Call Option Contracts**<br> (Premiums received $234,126,138) | **Total Written Call Option Contracts**<br> (Premiums received $234,126,138) | $422249970 |  |  | $210630900 |

---

The average monthly notional value of written option contracts during the nine months ended March 31, 2026 was $404,124,756.

---

| |
|:---|
| **HUSSMAN STRATEGIC ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS** |
| **March 31, 2026 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 83.1%** | **Shares** | **Value** |
| **Communications - 2.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Advertising & Marketing - 0.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade Desk, Inc. (The) - Class A <sup>(a)(b)</sup> | 2000 | $45380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Entertainment Content - 0.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paramount Skydance Corporation - Class B <sup>(a)</sup> | 7000 | 63140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Internet Media & Services - 1.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lyft, Inc. - Class A <sup>(a)(b)</sup> | 10000 | 133000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Match Group, Inc. <sup>(a)</sup> | 3000 | 92130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upwork, Inc. <sup>(a)(b)</sup> | 10000 | 109600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ziff Davis, Inc. <sup>(a)(b)</sup> | 2500 | 104900 |
|  |  | 439630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Telecommunications - 0.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Millicom International Cellular S.A. <sup>(a)</sup> | 800 | 59952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Verizon Communications, Inc. <sup>(a)</sup> | 2500 | 125500 |
|  |  | 185452 |
| **Consumer Discretionary - 14.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Apparel & Textile Products - 0.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carter's, Inc. <sup>(a)</sup> | 1000 | 35760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PVH Corporation <sup>(a)</sup> | 1000 | 69760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Steven Madden Ltd. <sup>(a)</sup> | 4000 | 135680 |
|  |  | 241200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Automotive - 2.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aptiv plc <sup>(a)(b)</sup> | 1800 | 124992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Garrett Motion, Inc. <sup>(a)</sup> | 4000 | 72680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gentex Corporation <sup>(a)</sup> | 3000 | 65550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Harley-Davidson, Inc. <sup>(a)</sup> | 3000 | 60660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lear Corporation <sup>(a)</sup> | 500 | 60540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rivian Automotive, Inc. - Class A <sup>(a)(b)</sup> | 3000 | 45150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Visteon Corporation <sup>(a)</sup> | 1500 | 136665 |
|  |  | 566237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Consumer Services - 0.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PROG Holdings, Inc. <sup>(a)</sup> | 2000 | 57380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*E-Commerce Discretionary - 0.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Etsy, Inc. <sup>(a)(b)</sup> | 4000 | 199920 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 83.1% (continued)** | **Shares** | **Value** |
| **Consumer Discretionary - 14.0% (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Home Construction - 0.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forestar Group, Inc. <sup>(a)(b)</sup> | 2000 | $48880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lennar Corporation - Class A <sup>(a)</sup> | 500 | 43420 |
|  |  | 92300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Leisure Facilities & Services - 3.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arcos Dorados Holdings, Inc. - Class A <sup>(a)</sup> | 5000 | 41250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carnival Corporation <sup>(a)</sup> | 2000 | 51760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domino's Pizza, Inc. <sup>(a)</sup> | 300 | 107637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hilton Grand Vacations, Inc. <sup>(a)(b)</sup> | 1000 | 39120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Planet Fitness, Inc. - Class A <sup>(a)(b)</sup> | 1200 | 89256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restaurant Brands International, Inc. <sup>(a)</sup> | 2000 | 147800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Starbucks Corporation <sup>(a)</sup> | 1000 | 89590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wingstop, Inc. <sup>(a)</sup> | 800 | 123976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wynn Resorts Ltd. <sup>(a)</sup> | 1000 | 101550 |
|  |  | 791939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Leisure Products - 0.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;YETI Holdings, Inc. <sup>(a)(b)</sup> | 3000 | 109770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Retail - Discretionary - 5.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advance Auto Parts, Inc. <sup>(a)</sup> | 2000 | 105500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Eagle Outfitters, Inc. <sup>(a)</sup> | 10000 | 167000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Buckle, Inc. (The) <sup>(a)</sup> | 2000 | 100720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gap, Inc. (The) <sup>(a)</sup> | 5000 | 121000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hertz Global Holdings, Inc. <sup>(a)(b)</sup> | 15000 | 69150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kohl's Corporation <sup>(a)</sup> | 10000 | 129000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Macy's, Inc. <sup>(a)</sup> | 5000 | 90450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Vision Holdings, Inc. <sup>(a)(b)</sup> | 5000 | 129500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sally Beauty Holdings, Inc. <sup>(a)(b)</sup> | 10000 | 138500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Savers Value Village, Inc. <sup>(a)(b)</sup> | 15000 | 111600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signet Jewelers Ltd. <sup>(a)</sup> | 1500 | 126960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Urban Outfitters, Inc. <sup>(a)(b)</sup> | 2000 | 126700 |
|  |  | 1416080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Specialty Retail - 0.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ulta Beauty, Inc. <sup>(a)(b)</sup> | 350 | 182949 |
| **Consumer Staples - 9.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Beverages - 0.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coca-Cola Company (The) <sup>(a)</sup> | 1000 | 76050 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 83.1% (continued)** | **Shares** | **Value** |
| **Consumer Staples - 9.9% (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Beverages - 0.6% (continued)* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PepsiCo, Inc. <sup>(a)</sup> | 500 | $77645 |
|  |  | 153695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Food - 4.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adecoagro S.A. <sup>(a)</sup> | 5000 | 75100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cal-Maine Foods, Inc. <sup>(a)</sup> | 1500 | 118725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Campbell's Company (The) <sup>(a)</sup> | 10000 | 222700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dole plc <sup>(a)</sup> | 7000 | 100030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Flowers Foods, Inc. <sup>(a)</sup> | 8000 | 65200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fresh Del Monte Produce, Inc. <sup>(a)</sup> | 2000 | 80520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Mills, Inc. <sup>(a)</sup> | 3000 | 111660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Herbalife Ltd. <sup>(a)(b)</sup> | 3000 | 44160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hershey Company (The) <sup>(a)</sup> | 400 | 83156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;J.M. Smucker Company (The) <sup>(a)</sup> | 500 | 48220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kraft Heinz Company (The) <sup>(a)</sup> | 2000 | 44980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nomad Foods Ltd. <sup>(a)</sup> | 8000 | 76880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Post Holdings, Inc. <sup>(a)(b)</sup> | 300 | 29658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tootsie Roll Industries, Inc. <sup>(a)</sup> | 3090 | 132005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vital Farms, Inc. <sup>(a)(b)</sup> | 2000 | 28240 |
|  |  | 1261234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Household Products - 1.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clorox Company (The) <sup>(a)</sup> | 500 | 51815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colgate-Palmolive Company <sup>(a)</sup> | 1000 | 85230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;elf Beauty, Inc. <sup>(a)(b)</sup> | 500 | 30305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kimberly-Clark Corporation <sup>(a)</sup> | 300 | 28941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reynolds Consumer Products, Inc. <sup>(a)</sup> | 4000 | 84720 |
|  |  | 281011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Retail - Consumer Staples - 1.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dollar General Corporation <sup>(a)</sup> | 1500 | 178095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Five Below, Inc. <sup>(a)(b)</sup> | 600 | 137088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ollie's Bargain Outlet <br> Holdings, Inc. <sup>(a)(b)</sup> | 1000 | 92040 |
|  |  | 407223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Wholesale - Consumer Staples - 1.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Company <sup>(a)</sup> | 2000 | 145380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sysco Corp. <sup>(a)</sup> | 1500 | 106995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Natural Foods, Inc. <sup>(a)(b)</sup> | 5000 | 225300 |
|  |  | 477675 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 83.1% (continued)** | **Shares** | **Value** |
| **Energy - 6.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Oil & Gas Producers - 3.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;APA Corporation <sup>(a)</sup> | 5000 | $212200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cheniere Energy Partners, L.P. <sup>(a)</sup> | 2000 | 129260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coterra Energy, Inc. <sup>(a)</sup> | 2000 | 70280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Devon Energy Corporation <sup>(a)</sup> | 2000 | 100640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diamondback Energy, Inc. <sup>(a)</sup> | 500 | 98895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marathon Petroleum Corporation <sup>(a)</sup> | 200 | 48836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Par Pacific Holdings, Inc. <sup>(a)(b)</sup> | 2000 | 125280 |
|  |  | 785391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Oil & Gas Services & Equipment - 1.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Innovex International, Inc. <sup>(a)(b)</sup> | 2000 | 48780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noble Corporation plc <sup>(a)</sup> | 2000 | 98140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RPC, Inc. <sup>(a)</sup> | 5000 | 35400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SLB Ltd. <sup>(a)</sup> | 2000 | 102780 |
|  |  | 285100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Renewable Energy - 2.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ameresco, Inc. - Class A <sup>(a)(b)</sup> | 6000 | 153000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canadian Solar, Inc. <sup>(a)(b)</sup> | 8000 | 110800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Solar, Inc. <sup>(a)(b)</sup> | 500 | 98630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shoals Technologies Group, Inc. - Class A <sup>(a)(b)</sup> | 20000 | 131600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SolarEdge Technologies, Inc. <sup>(a)(b)</sup> | 3000 | 153150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sunrun, Inc. <sup>(a)(b)</sup> | 5000 | 67800 |
|  |  | 714980 |
| **Financials - 6.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Asset Management - 1.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acadian Asset Management, Inc. <sup>(a)</sup> | 2000 | 108840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federated Hermes, Inc. <sup>(a)</sup> | 500 | 28355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Patria Investments Ltd. - Class A <sup>(a)</sup> | 4000 | 50400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;XP, Inc. - Class A <sup>(a)</sup> | 5000 | 95200 |
|  |  | 282795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Banking - 1.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banco Latinoamericano de Comercio Exterior S.A. - Class E <sup>(a)</sup> | 1000 | 51080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BankUnited, Inc. <sup>(a)</sup> | 1500 | 67740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup, Inc. <sup>(a)</sup> | 500 | 56705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Valley National Bancorp <sup>(a)</sup> | 7000 | 85960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Alliance Bancorp <sup>(a)</sup> | 1000 | 70850 |
|  |  | 332335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Institutional Financial Services - 0.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Northern Trust Corporation <sup>(a)</sup> | 700 | 97699 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 83.1% (continued)** | **Shares** | **Value** |
| **Financials - 6.1% (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Institutional Financial Services - 0.9% (continued)* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State Street Corporation <sup>(a)</sup> | 500 | $63280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;StoneX Group, Inc. <sup>(a)(b)</sup> | 1050 | 84682 |
|  |  | 245661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Insurance - 2.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allstate Corporation (The) <sup>(a)</sup> | 400 | 82936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNA Financial Corporation <sup>(a)</sup> | 1000 | 45920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hamilton Insurance Group Ltd. - Class B <sup>(a)(b)</sup> | 3000 | 89490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mercury General Corporation <sup>(a)</sup> | 1000 | 88150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palomar Holdings, Inc. <sup>(a)(b)</sup> | 500 | 59750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RenaissanceRe Holdings Ltd. <sup>(a)</sup> | 200 | 59446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SiriusPoint Ltd. <sup>(a)(b)</sup> | 2000 | 43080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Travelers Companies, Inc. (The) <sup>(a)</sup> | 200 | 58336 |
|  |  | 527108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Specialty Finance - 0.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bread Financial Holdings, Inc. <sup>(a)</sup> | 1500 | 112335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Synchrony Financial <sup>(a)</sup> | 1500 | 102030 |
|  |  | 214365 |
| **Health Care - 18.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Biotech & Pharma - 11.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACADIA Pharmaceuticals, Inc. <sup>(a)(b)</sup> | 8000 | 178080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amgen, Inc. <sup>(a)</sup> | 250 | 87962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amphastar Pharmaceuticals, Inc. <sup>(a)(b)</sup> | 3000 | 58770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AnaptysBio, Inc. <sup>(a)(b)</sup> | 1000 | 55460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ANI Pharmaceuticals, Inc. <sup>(a)(b)</sup> | 2500 | 192250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ascendis Pharma A/S - ADR <sup>(b)</sup> | 400 | 91492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aurinia Pharmaceuticals, Inc. <sup>(a)(b)</sup> | 4000 | 59280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Biogen, Inc. <sup>(a)(b)</sup> | 300 | 54999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Catalyst Pharmaceuticals, Inc. <sup>(a)(b)</sup> | 4000 | 99040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collegium Pharmaceutical, Inc. <sup>(a)(b)</sup> | 5000 | 165350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corcept Therapeutics, Inc. <sup>(b)</sup> | 6000 | 241860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exelixis, Inc. <sup>(a)(b)</sup> | 2000 | 85780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. <sup>(a)</sup> | 500 | 69685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Halozyme Therapeutics, Inc. <sup>(a)(b)</sup> | 2500 | 161575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Harmony Biosciences Holdings, Inc. <sup>(a)(b)</sup> | 4000 | 112040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Immunocore Holdings plc - ADR <sup>(b)</sup> | 3000 | 90450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incyte Corporation <sup>(a)(b)</sup> | 1500 | 141180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Innoviva, Inc. <sup>(a)(b)</sup> | 7000 | 163100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jazz Pharmaceuticals plc <sup>(a)(b)</sup> | 200 | 37810 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 83.1% (continued)** | **Shares** | **Value** |
| **Health Care - 18.0% (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Biotech & Pharma - 11.9% (continued)* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kiniksa Pharmaceuticals International plc <sup>(a)(b)</sup> | 1000 | $48150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monte Rosa Therapeutics, Inc. <sup>(a)(b)</sup> | 3000 | 49350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neurocrine Biosciences, Inc. <sup>(a)(b)</sup> | 1000 | 131740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novavax, Inc. <sup>(b)</sup> | 2000 | 16280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nuvation Bio, Inc. <sup>(b)</sup> | 5000 | 21450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pfizer, Inc. <sup>(a)</sup> | 2000 | 56160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phathom Pharmaceuticals, Inc. <sup>(a)(b)</sup> | 4000 | 44440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phibro Animal Health Corporation - Class A | 2000 | 110620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Praxis Precision Medicines, Inc. <sup>(a)(b)</sup> | 200 | 64438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Protagonist Therapeutics, Inc. <sup>(a)(b)</sup> | 500 | 52700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Royalty Pharma plc - Class A <sup>(a)</sup> | 1000 | 47970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Septerna, Inc. <sup>(a)(b)</sup> | 5000 | 120150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stoke Therapeutics, Inc. <sup>(a)(b)</sup> | 4000 | 130240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tarsus Pharmaceuticals, Inc. <sup>(a)(b)</sup> | 800 | 56120 |
|  |  | 3095971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Health Care Facilities & Services - 3.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Astrana Health, Inc. <sup>(a)(b)</sup> | 3000 | 73560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Concentra Group Holdings Parent, Inc. <sup>(a)</sup> | 3000 | 64350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVS Health Corporation <sup>(a)</sup> | 2000 | 143640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guardian Pharmacy Services, Inc. - Class A <sup>(a)(b)</sup> | 1000 | 37660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Humana, Inc. <sup>(a)</sup> | 500 | 86695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medpace Holdings, Inc. <sup>(a)(b)</sup> | 300 | 144057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pediatrix Medical Group, Inc. <sup>(a)(b)</sup> | 3000 | 64170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Progyny, Inc. <sup>(a)(b)</sup> | 10000 | 169800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Universal Health Services, Inc. - Class B <sup>(a)</sup> | 500 | 89485 |
|  |  | 873417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Medical Equipment & Devices - 2.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10X Genomics, Inc. - Class A <sup>(a)(b)</sup> | 3000 | 63690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Align Technology, Inc. <sup>(b)</sup> | 500 | 85715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DexCom, Inc. <sup>(b)</sup> | 500 | 31400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Haemonetics Corporation <sup>(b)</sup> | 500 | 28180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inspire Medical Systems, Inc. <sup>(a)(b)</sup> | 500 | 25790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iRhythm Technologies, Inc. <sup>(a)(b)</sup> | 1400 | 165228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;QIAGEN N.V. <sup>(a)</sup> | 4000 | 160160 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 83.1% (continued)** | **Shares** | **Value** |
| **Health Care - 18.0% (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Medical Equipment & Devices - 2.7% (continued)* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TransMedics Group, Inc. <sup>(a)(b)</sup> | 1500 | $149115 |
|  |  | 709278 |
| **Industrials - 6.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Aerospace & Defense - 0.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amprius Technologies, Inc. <sup>(a)(b)</sup> | 7000 | 118020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Commercial Support Services - 1.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cimpress plc <sup>(a)(b)</sup> | 1000 | 73000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Healthcare Services Group, Inc. <sup>(a)(b)</sup> | 8000 | 148400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TriNet Group, Inc. <sup>(a)</sup> | 1000 | 36430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UL Solutions, Inc. - Class A <sup>(a)</sup> | 1500 | 128565 |
|  |  | 386395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Electrical Equipment - 1.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allegion plc <sup>(a)</sup> | 1000 | 145290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nextpower, Inc. - Class A <sup>(a)(b)</sup> | 800 | 96440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sensata Technologies Holding plc <sup>(a)</sup> | 2000 | 70440 |
|  |  | 312170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Engineering & Construction - 0.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Frontdoor, Inc. <sup>(a)(b)</sup> | 1500 | 79290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IHS Holding Ltd. <sup>(b)</sup> | 5000 | 41150 |
|  |  | 120440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Industrial Intermediate Products - 0.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proto Labs, Inc. <sup>(a)(b)</sup> | 2500 | 142550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Industrial Support Services - 0.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MSC Industrial Direct Company, Inc. - Class A <sup>(a)</sup> | 500 | 46135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Machinery - 0.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Power Solutions International, Inc. <sup>(a)(b)</sup> | 3000 | 182640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Transportation & Logistics - 1.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Airlines Group, Inc. <sup>(a)(b)</sup> | 10000 | 107400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Copa Holdings S.A. - Class A <sup>(a)</sup> | 500 | 56805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expeditors International of Washington, Inc. <sup>(a)</sup> | 500 | 71615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FLEX LNG Ltd. <sup>(a)</sup> | 2000 | 59420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Teekay Corporation Ltd. | 3000 | 36630 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 83.1% (continued)** | **Shares** | **Value** |
| **Industrials - 6.6% (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Transportation & Logistics - 1.6% (continued)* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Teekay Tankers Ltd. - Class A <sup>(a)</sup> | 1000 | $73320 |
|  |  | 405190 |
| **Materials - 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Chemicals - 0.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mosaic Company (The) | 4000 | 102000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Metals & Mining - 0.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Agnico Eagle Mines Ltd. <sup>(a)</sup> | 100 | 20298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alamos Gold, Inc. - Class A <sup>(a)</sup> | 200 | 8886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AngloGold Ashanti plc <sup>(a)</sup> | 100 | 9736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aura Minerals, Inc. <sup>(a)</sup> | 300 | 24480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barrick Mining Corporation <sup>(a)</sup> | 500 | 20395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hecla Mining Company | 100 | 1863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinross Gold Corporation | 200 | 6104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Newmont Corporation <sup>(a)</sup> | 200 | 21650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pan American Silver Corporation | 200 | 10926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Royal Gold, Inc. <sup>(a)</sup> | 50 | 12725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SSR Mining, Inc. <sup>(a)(b)</sup> | 500 | 14700 |
|  |  | 151763 |
| **Real Estate - 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*REITs - 0.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alexander's, Inc. <sup>(a)</sup> | 300 | 70860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diversified Healthcare Trust <sup>(a)</sup> | 5000 | 33200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SBA Communications Corporation - Class A <sup>(a)</sup> | 400 | 68844 |
|  |  | 172904 |
| **Technology - 14.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Semiconductors - 1.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACM Research, Inc. - Class A <sup>(a)(b)</sup> | 3000 | 118050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Axcelis Technologies, Inc. <sup>(a)(b)</sup> | 1000 | 93080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cirrus Logic, Inc. <sup>(a)(b)</sup> | 1000 | 144620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Universal Display Corporation | 500 | 45830 |
|  |  | 401580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Software - 6.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adobe, Inc. <sup>(a)(b)</sup> | 500 | 121540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Akamai Technologies, Inc. <sup>(a)(b)</sup> | 500 | 57425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AppFolio, Inc. - Class A <sup>(b)</sup> | 200 | 31564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackLine, Inc. <sup>(a)(b)</sup> | 2000 | 74000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check Point Software Technologies Ltd. <sup>(a)(b)</sup> | 1000 | 142850 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 83.1% (continued)** | **Shares** | **Value** |
| **Technology - 14.4% (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Software - 6.7% (continued)* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clear Secure, Inc. - Class A <sup>(a)</sup> | 2500 | $121025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Concentrix Corporation <sup>(a)</sup> | 7000 | 191520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Doximity, Inc. - Class A <sup>(a)(b)</sup> | 1000 | 23300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dropbox, Inc. - Class A <sup>(a)(b)</sup> | 2000 | 45440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Duolingo, Inc. <sup>(a)(b)</sup> | 500 | 49285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fastly, Inc. - Class A <sup>(a)(b)</sup> | 5000 | 145300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GigaCloud Technology, Inc. - Class A <sup>(a)(b)</sup> | 1500 | 68070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monday.com Ltd. <sup>(b)</sup> | 500 | 34555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MongoDB, Inc. <sup>(b)</sup> | 500 | 122385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nutex Health, Inc. <sup>(a)(b)</sup> | 1000 | 95040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paycom Software, Inc. <sup>(a)</sup> | 800 | 97232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Qualys, Inc. <sup>(a)(b)</sup> | 2000 | 175700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SPS Commerce, Inc. <sup>(a)(b)</sup> | 500 | 27835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UiPath, Inc. - Class A <sup>(a)(b)</sup> | 10000 | 111000 |
|  |  | 1735066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Technology Hardware - 2.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credo Technology Group Holding Ltd. <sup>(b)</sup> | 1000 | 93870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ingram Micro Holding Corporation <sup>(a)</sup> | 5000 | 116550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;InterDigital, Inc. <sup>(a)</sup> | 300 | 90600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ubiquiti, Inc. <sup>(a)</sup> | 200 | 158058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Viasat, Inc. <sup>(a)(b)</sup> | 3500 | 160300 |
|  |  | 619378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Technology Services - 3.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cognizant Technology Solutions Corporation - Class A <sup>(a)(b)</sup> | 1000 | 61350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;dLocal Ltd. <sup>(a)(b)</sup> | 10000 | 129700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EPAM Systems, Inc. <sup>(a)(b)</sup> | 1000 | 135400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Flywire Corporation <sup>(a)(b)</sup> | 10000 | 116400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ICF International, Inc. <sup>(a)</sup> | 500 | 32645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Matrix IT Ltd. | 1763 | 48236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maximus, Inc. <sup>(a)</sup> | 2000 | 128200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pagseguro Digital Ltd. - Class A <sup>(a)</sup> | 10000 | 100200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sezzle, Inc. <sup>(b)</sup> | 3000 | 189870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Union Company (The) <sup>(a)</sup> | 5000 | 43650 |
|  |  | 985651 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 83.1% (continued)** | **Shares** | **Value** |
| **Utilities - 2.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Electric Utilities - 2.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AES Corporation (The) <sup>(a)</sup> | 5000 | $70450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Infrastructure Partners, L.P. <sup>(a)</sup> | 4000 | 144480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Renewable Corporation <sup>(a)(b)</sup> | 2500 | 99575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fluence Energy, Inc. <sup>(a)(b)</sup> | 10000 | 137600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Talen Energy Corporation <sup>(a)(b)</sup> | 500 | 159615 |
|  |  | 611720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Gas & Water Utilities - 0.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Essential Utilities, Inc. <sup>(a)</sup> | 3000 | 120810 |
| **Total Common Stocks** (Cost $21,391,869) |  | $21653028 |
| **U.S. TREASURY OBLIGATIONS - 15.4%** | **Par Value** | **Value** |
| **U.S. Treasury Inflation-Protected Bonds - 1.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125%, due 02/15/2054 | $530145 | $469537 |
| **U.S. Treasury Inflation-Protected Notes - 9.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750%, due 01/15/2034 | 529605 | 527868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.875%, due 07/15/2035 | 2025640 | 2017852 |
|  |  | 2545720 |
| **U.S. Treasury Notes - 3.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375%, due 02/29/2028 | 1000000 | 992109 |
| **Total U.S. Treasury Obligations** (Cost $4,041,235) |  | $4007366 |
| **WARRANTS - 0.0% <sup>(c)</sup>** | **Shares** | **Value** |
| **Energy** - **0.0% <sup>(c)</sup>** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Oil & Gas Services & Equipment* - *0.0%* <sup>(c)</sup>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nabors Industries Ltd., expires 06/11/2026 (Cost $0) | 240 | $93 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **EXCHANGE-TRADED PUT OPTION CONTRACTS - 0.2%** | **Contracts** | **Notional Amount** | **Value** |
| Russell 2000<sup>®</sup> Index Option, 06/22/2026 at $1,600 | 38 | $9486206 | $20444 |
| S&P 500<sup>®</sup> Index Option, 06/22/2026 at $4,600 | 16 | 10445632 | 27872 |
| **Total Put Option Contracts** (Cost $45,293) |  | $19931838 | $48316 |
| **Total Investments at Value - 98.7%** (Cost $25,478,397) |  |  | $25708803 |
| **MONEY MARKET FUNDS - 26.9%** |  | **Shares** | **Value** |
| Invesco Treasury Portfolio - Institutional Class, 3.56% <sup>(d)</sup> (Cost $7,002,102) |  | 7002102 | $7002102 |
| **Total Investments and Money Market Funds at Value - 125.6%** (Cost $32,480,499) | **Total Investments and Money Market Funds at Value - 125.6%** (Cost $32,480,499) |  | $32710905 |
| **Written Call Option Contracts - (25.3%)** |  |  | (6586752) |
| **Liabilities in Excess of Other Assets - (0.3%)** |  |  | (74760) |
| **Net Assets - 100.0%** |  |  | $26049393 |

---

ADR - American Depositary Receipt.

<sup>(a)</sup> All or portion of the security is used as collateral to cover written call options. The total value of the securities held as collateral as of March 31, 2026 was $20,149,057.

<sup>(b)</sup> Non-income producing security.

<sup>(c)</sup> Percentage rounds to less than 0.1%.

<sup>(d)</sup> The rate shown is the 7-day effective yield as of March 31, 2026.

---

| |
|:---|
| **HUSSMAN STRATEGIC ALLOCATION FUND** |
| **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS** |
| **March 31, 2026 (Unaudited)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **EXCHANGE-TRADED<br> WRITTEN CALL<br> OPTION CONTRACTS** | **Contracts** | **Notional Amount** | **Strike Price** | **Expiration Date** | **Value of Options** |
| **Call Option Contracts** | **Call Option Contracts** | **Call Option Contracts** | **Call Option Contracts** | **Call Option Contracts** | **Call Option Contracts** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Russell 2000<sup>®</sup> Index Option | 38 | $9486206 | $1600 | 06/22/2026 | $3445840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;S&P 500<sup>®</sup> Index Option | 16 | 10445632 | 4600 | 06/22/2026 | 3140912 |
| **Total Written Call Option Contracts**<br> (Premiums received $7,738,096) | **Total Written Call Option Contracts**<br> (Premiums received $7,738,096) | $19931838 |  |  | $6586752 |

---

The average monthly notional value of written option contracts during the nine months ended March 31, 2026 was $18,987,953.

---

| |
|:---|
| **HUSSMAN STRATEGIC TOTAL RETURN FUND** |
| **SCHEDULE OF INVESTMENTS** |
| **March 31, 2026 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 2.9%** | **Shares** | **Value** |
| **Energy - 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Oil & Gas Producers - 0.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Resources Corporation | 1000 | $69220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crescent Energy Company - Class A | 1906 | 25731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DT Midstream, Inc. | 500 | 67335 |
|  |  | 162286 |
| **Materials - 2.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Metals & Mining - 2.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Agnico Eagle Mines Ltd. | 4000 | 811920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alamos Gold, Inc. - Class A | 8000 | 355440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AngloGold Ashanti plc | 4000 | 389440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aura Minerals, Inc. | 2000 | 163200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B2Gold Corporation <sup>(a)</sup> | 200000 | 906000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barrick Mining Corporation | 20000 | 815800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hecla Mining Company | 4000 | 74520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinross Gold Corporation | 8000 | 244160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Newmont Corporation | 8000 | 866000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pan American Silver Corporation | 8000 | 437040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Royal Gold, Inc. | 2000 | 508980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sibanye-Stillwater Ltd. - ADR | 20000 | 246400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SSR Mining, Inc. <sup>(a)</sup> | 20000 | 588000 |
|  |  | 6406900 |
| **Utilities - 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Electric Utilities - 0.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AES Corporation (The) | 1000 | 14090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ameren Corporation | 100 | 10992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Electric Power Company, Inc. | 100 | 13108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Avista Corporation | 1000 | 40140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Black Hills Corporation | 500 | 34705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidated Edison, Inc. | 1000 | 113180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dominion Energy, Inc. | 500 | 30910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DTE Energy Company | 100 | 14622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Duke Energy Corporation | 500 | 65470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Edison International | 500 | 36590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entergy Corporation | 1000 | 112360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exelon Corporation | 1000 | 49020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FirstEnergy Corporation | 1000 | 50660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hawaiian Electric Industries, Inc. | 1000 | 14840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NorthWestern Energy Group, Inc. | 1000 | 65940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NRG Energy, Inc. | 1000 | 146140 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC TOTAL RETURN FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 2.9% (continued)** | **Shares** | **Value** |
| **Utilities - 0.4% (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Electric Utilities - 0.4% (continued)* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Otter Tail Corporation | 1000 | $87770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pinnacle West Capital Corporation | 1000 | 100750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Portland General Electric Company | 1000 | 52770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PPL Corporation | 1000 | 38200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Service Enterprise Group, Inc. | 500 | 40475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southern Company (The) | 500 | 48260 |
|  |  | 1180992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Gas & Water Utilities* - *0.0%* <sup>(b)</sup>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Water Resources, Inc. | 1000 | 7590 |
| **Total Common Stocks** (Cost $7,381,394) |  | $7757768 |
| **EXCHANGE-TRADED FUNDS - 0.8%** | **Shares** | **Value** |
| Invesco CurrencyShares British Pound Sterling Trust | 5000 | $636750 |
| Invesco CurrencyShares Euro Currency Trust | 7500 | 800175 |
| Invesco CurrencyShares Japanese Yen Trust <sup>(a)</sup> | 12500 | 723500 |
| **Total Exchange-Traded Funds** (Cost $2,210,871) |  | $2160425 |
| **U.S. TREASURY OBLIGATIONS - 79.8%** | **Par Value** | **Value** |
| **U.S. Treasury Bills <sup>(c)</sup> - 10.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.520%, due 11/27/2026 | $30000000 | $29294960 |
| **U.S. Treasury Inflation-Protected Bonds - 1.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125%, due 02/15/2054 | 5301450 | 4695368 |
| **U.S. Treasury Inflation-Protected Notes - 36.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500%, due 01/15/2029 | 15147400 | 15718091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.125%, due 01/15/2030 | 12640300 | 12102753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750%, due 01/15/2034 | 5296050 | 5278675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.875%, due 07/15/2035 | 65833300 | 65580188 |
|  |  | 98679707 |

---

---

| |
|:---|
| **HUSSMAN STRATEGIC TOTAL RETURN FUND** |
| **SCHEDULE OF INVESTMENTS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **U.S. TREASURY OBLIGATIONS - 79.8% (continued)** | **Par Value** | **Value** |
| **U.S. Treasury Notes - 31.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125%, due 05/31/2026 | $10000000 | $9972708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500%, due 08/15/2026 | 10000000 | 9915598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375%, due 02/29/2028 | 35000000 | 34723828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, due 02/28/2031 | 30000000 | 29423438 |
|  |  | 84035572 |
| **Total U.S. Treasury Obligations** (Cost $217,425,806) |  | $216705607 |
| **WARRANTS - 0.0% <sup>(b)</sup>** | **Shares** | **Value** |
| **Energy** - **0.0% <sup>(b)</sup>** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Oil & Gas Services & Equipment* - *0.0%* <sup>(b)</sup>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nabors Industries Ltd., expires 06/11/2026 (Cost $0) | 8000 | $3104 |
| **Total Investments at Value - 83.5%** (Cost $227,018,071) |  | $226626904 |
| **MONEY MARKET FUNDS - 16.6%** | **Shares** | **Value** |
| Invesco Treasury Portfolio - Institutional Class, 3.56% <sup>(d)</sup> (Cost $45,083,953) | 45083953 | $45083953 |
| **Total Investments and Money Market Funds at Value - 100.1%** (Cost $272,102,024) |  | $271710857 |
| **Liabilities in Excess of Other Assets - (0.1%)** |  | (336600) |
| **Net Assets - 100.0%** |  | $271374257 |

---

ADR - American Depositary Receipt.

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Percentage rounds to less than 0.1%.

<sup>(c)</sup> Rate shown is the annualized yield at time of purchase, not a coupon rate.

<sup>(d)</sup> The rate shown is the 7-day effective yield as of March 31, 2026.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Hussman Investment Trust

- **b. Investment Company Act file number:** 811-09911

- **c. CIK number of Registrant:** 0001110502

- **d. LEI of Registrant:** 549300EF1SYTJJEUZO63

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

  - **Street Address 1:** 6021 University Blvd.

  - **City:** Ellicott City

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 21043

  - **Telephone number:** 513-587-3400

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

- **a. Name of Series:** HUSSMAN STRATEGIC MARKET CYCLE FUND

- **b. EDGAR series identifier (if any):** S000001544

- **c. LEI of Series:** 549300RGE97SYH31Y227

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $621878372.57

**Total Liabilities:** $226178381.89

**Net Assets:** $395699990.68

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000004198 | -3.40%               | 0.97%                | 1.77%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3289617.06              | $4394387.40                                |
| Month 2  | $3527073.95              | $2811381.82                                |
| Month 3  | $-13856941.22            | $-3495596.24                               |

**Designated Index Information**

- **Index Name:** Hussman Strategic Growth DRP

- **Index Identifier:** B2HKT0HLI0

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Acm Research Inc                              | ACM Research, Inc. Class A                          | CUSIP: 00108J109<br>LEI: 549300MCTENUWL2GJL61 | Long             | EC               | CORP              | US        |     60000 | NS      | $2361000.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| AES Corp.                                     | AES Corporation (The)                               | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EC               | CORP              | US        |    100000 | NS      | $1409000.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ANI Pharmaceuticals Inc.                      | ANI Pharmaceuticals, Inc.                           | CUSIP: 00182C103<br>LEI: 5493000T6CXTND40YH31 | Long             | EC               | CORP              | US        |     50000 | NS      | $3845000.00    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Pharmaceuticals Inc                    | ACADIA Pharmaceuticals, Inc.                        | CUSIP: 004225108<br>LEI: 529900O3044NO0PEA039 | Long             | EC               | CORP              | US        |    160000 | NS      | $3561600.00    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                                     | Adobe, Inc.                                         | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     10000 | NS      | $2430800.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Advance Auto Parts Inc.                       | Advance Auto Parts, Inc.                            | CUSIP: 00751Y106<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | EC               | CORP              | US        |     40000 | NS      | $2110000.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd                        | Agnico Eagle Mines Ltd.                             | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |      2000 | NS      | $405960.00     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Akamai Technologies, Inc.                     | Akamai Technologies, Inc.                           | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | EC               | CORP              | US        |     10000 | NS      | $1148500.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold Inc.                              | Alamos Gold, Inc. CLASS A                           | CUSIP: 011532108<br>LEI: 894500GIHFJZW7YS9660 | Long             | EC               | CORP              | CA        |      4000 | NS      | $177720.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexanders Inc                                | Alexander's, Inc. REIT                              | CUSIP: 014752109<br>LEI: 549300TZM28P04U5R635 | Long             | EC               | CORP              | US        |      6000 | NS      | $1417200.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology Inc.                         | Align Technology, Inc.                              | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |     10000 | NS      | $1714300.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Bread Financial Holdings Inc                  | Bread Financial Holdings, Inc.                      | CUSIP: 018581108<br>LEI: 549300G8S4PO686J7H97 | Long             | EC               | CORP              | US        |     30000 | NS      | $2246700.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| The Allstate Corporation                      | Allstate Corporation (The)                          | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |      8000 | NS      | $1658720.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameresco Inc                                  | Ameresco, Inc.                                      | CUSIP: 02361E108<br>LEI: 529900NZXZGBCBXYY327 | Long             | EC               | CORP              | US        |    120000 | NS      | $3060000.00    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| American Airlines Group Inc                   | American Airlines Group, Inc.                       | CUSIP: 02376R102<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | EC               | CORP              | US        |    200000 | NS      | $2148000.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| American Eagle Outfitters Inc.                | American Eagle Outfitters, Inc.                     | CUSIP: 02553E106<br>LEI: 5299001Z9HXK01DHW793 | Long             | EC               | CORP              | US        |    200000 | NS      | $3340000.00    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                                    | Amgen, Inc.                                         | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      5000 | NS      | $1759250.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphastar Pharmaceuticals Inc                 | Amphastar Pharmaceuticals, Inc.                     | CUSIP: 03209R103<br>LEI: 54930055TH0ZLSAQMJ38 | Long             | EC               | CORP              | US        |     60000 | NS      | $1175400.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Amprius Technologies Inc.                     | Amprius Technologies, Inc.                          | CUSIP: 03214Q108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    140000 | NS      | $2360400.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| AnaptysBio Inc.                               | ANAPTYSBIO, INC.                                    | CUSIP: 032724106<br>LEI: 529900HH4WQT03IG1A12 | Long             | EC               | CORP              | US        |     20000 | NS      | $1109200.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| APA Corp.                                     | APA Corporation                                     | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |    100000 | NS      | $4244000.00    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Astrana Health Inc                            | Astrana Health, Inc.                                | CUSIP: 03763A207<br>LEI: 5493008O4R82Q4STJ936 | Long             | EC               | CORP              | US        |     60000 | NS      | $1471200.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| AppFolio Inc.                                 | Appfolio, Inc. CLASS A                              | CUSIP: 03783C100<br>LEI: 529900OOUUGT6JFC0S15 | Long             | EC               | CORP              | US        |      4000 | NS      | $631280.00     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co.                    | Archer-Daniels-Midland Company                      | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |     40000 | NS      | $2907600.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Ascendis Pharma A/S                           | Ascendis Pharma A/S                                 | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |      8000 | NS      | $1829840.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Aurinia Pharmaceuticals Inc                   | Aurinia Pharmaceuticals, Inc.                       | CUSIP: 05156V102<br>LEI: 5299008YP2BW4570ML28 | Long             | EC               | CORP              | CA        |     80000 | NS      | $1185600.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Axcelis Technologies Inc.                     | Axcelis Technologies, Inc.                          | CUSIP: 054540208<br>LEI: 529900HF9B6NL1QG9F05 | Long             | EC               | CORP              | US        |     20000 | NS      | $1861600.00    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| BankUnited Inc.                               | BankUnited, Inc.                                    | CUSIP: 06652K103<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | EC               | CORP              | US        |     30000 | NS      | $1354800.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Mining Corp.                          | Barrick Mining Corporation                          | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |     10000 | NS      | $407900.00     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Biogen Inc                                    | Biogen, Inc.                                        | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |      6000 | NS      | $1099980.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackline Inc                                 | BlackLine, Inc.                                     | CUSIP: 09239B109<br>LEI: 529900P9N7PK9LV5EK56 | Long             | EC               | CORP              | US        |     40000 | NS      | $1480000.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadian Asset Management Inc                  | Acadian Asset Management, Inc.                      | CUSIP: 10948W103<br>LEI: 5493004FTLQNQTBOP608 | Long             | EC               | CORP              | US        |     40000 | NS      | $2176800.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Renewable Corporation              | Brookfield Renewable Corporation                    | CUSIP: 11285B108<br>LEI: 894500N9AWD5I1YNP231 | Long             | EC               | CORP              | US        |     50000 | NS      | $1991500.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Buckle Inc                                    | Buckle, Inc. (The)                                  | CUSIP: 118440106<br>LEI: 5299007IU0461T3GDL34 | Long             | EC               | CORP              | US        |     40000 | NS      | $2014400.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| CNA Financial Corporation                     | CNA Financial Corporation                           | CUSIP: 126117100<br>LEI: 549300YX2GSZD7YG1R84 | Long             | EC               | CORP              | US        |     20000 | NS      | $918400.00     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                               | CVS Health Corporation                              | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     40000 | NS      | $2872800.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc                            | Coterra Energy, Inc.                                | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |     40000 | NS      | $1405600.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Cal-Maine Foods Inc.                          | Cal-Maine Foods, Inc.                               | CUSIP: 128030202<br>LEI: 549300NHE5WMIEIEMF53 | Long             | EC               | CORP              | US        |     30000 | NS      | $2374500.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| The Campbells Co.                             | Campbell's Company (The)                            | CUSIP: 134429109<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | EC               | CORP              | US        |    200000 | NS      | $4454000.00    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Solar Inc                            | Canadian Solar, Inc.                                | CUSIP: 136635109<br>LEI: 5493001XSC6TKMBVOM15 | Long             | EC               | CORP              | US        |    160000 | NS      | $2216000.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Carnival Corporation                          | Carnival Corporation                                | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | US        |     40000 | NS      | $1035200.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Carters Inc.                                  | Carter's, Inc.                                      | CUSIP: 146229109<br>LEI: 5299003WAQK4R3L3ZU36 | Long             | EC               | CORP              | US        |     20000 | NS      | $715200.00     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Pharmaceuticals Inc.                 | Catalyst Pharmaceuticals, Inc.                      | CUSIP: 14888U101<br>LEI: 5299004O0R5XXLA5H544 | Long             | EC               | CORP              | US        |     80000 | NS      | $1980800.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Partners Lp                   | Cheniere Energy Partners, L.P.                      | CUSIP: 16411Q101<br>LEI: 5493005UEC8AZ34LDV29 | Long             | EC               | CORP              | US        |     40000 | NS      | $2585200.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Cirrus Logic, Inc.                            | Cirrus Logic, Inc.                                  | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |     20000 | NS      | $2892400.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                                | Citigroup, Inc.                                     | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     10000 | NS      | $1134100.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Clear Secure Inc                              | Clear Secure, Inc.                                  | CUSIP: 18467V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50000 | NS      | $2420500.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| The Clorox Company                            | Clorox Company (The)                                | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Long             | EC               | CORP              | US        |     10000 | NS      | $1036300.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co (The)                            | Coca-Cola Company (The)                             | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     20000 | NS      | $1521000.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions Corp.          | Cognizant Technology Solutions Corporation Class A  | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |     20000 | NS      | $1227000.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co.                         | Colgate-Palmolive Company                           | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     20000 | NS      | $1704600.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Collegium Pharmaceutical Inc.                 | Collegium Pharmaceutical, Inc.                      | CUSIP: 19459J104<br>LEI: 54930049FXZMTLW8D496 | Long             | EC               | CORP              | US        |    100000 | NS      | $3307000.00    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentrix Corp.                              | Concentrix Corporation                              | CUSIP: 20602D101<br>LEI: 5493000EAJN1KMPVA737 | Long             | EC               | CORP              | US        |    140000 | NS      | $3830400.00    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentra Group Holdings Parent Inc           | Concentra Group Holdings Parent, Inc.               | CUSIP: 20603L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     60000 | NS      | $1287000.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Corcept Therapeutics Inc.                     | Corcept Therapeutics, Inc.                          | CUSIP: 218352102<br>LEI: 529900EO9LUTFMZ7FF90 | Long             | EC               | CORP              | US        |    120000 | NS      | $4837200.00    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corporation                      | Devon Energy Corporation                            | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |     40000 | NS      | $2012800.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| DexCom Inc                                    | Dexcom, Inc.                                        | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |     10000 | NS      | $628000.00     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc                        | Diamondback Energy, Inc.                            | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |     10000 | NS      | $1977900.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Diversified Healthcare Trust                  | Diversified Healthcare Trust                        | CUSIP: 25525P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100000 | NS      | $664000.00     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar General Corporation                    | Dollar General Corporation                          | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |     30000 | NS      | $3561900.00    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominos Pizza Inc.                            | Domino's Pizza, Inc.                                | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |      6000 | NS      | $2152740.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Dropbox Inc                                   | Dropbox, Inc. Class A                               | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |     40000 | NS      | $908800.00     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Duolingo Inc                                  | Duolingo, Inc.                                      | CUSIP: 26603R106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10000 | NS      | $985700.00     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Doximity Inc                                  | Doximity, Inc.                                      | CUSIP: 26622P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20000 | NS      | $466000.00     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| E L F Beauty Inc                              | elf Beauty, Inc.                                    | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Long             | EC               | CORP              | US        |     10000 | NS      | $606100.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| EPAM Systems Inc.                             | EPAM Systems, Inc.                                  | CUSIP: 29414B104<br>LEI: 549300XCR4R530HJP604 | Long             | EC               | CORP              | US        |     20000 | NS      | $2708000.00    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Utilities Inc                       | Essential Utilities, Inc.                           | CUSIP: 29670G102<br>LEI: 549300ILTEOF3E3QY357 | Long             | EC               | CORP              | US        |     60000 | NS      | $2416200.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Etsy Inc                                      | Etsy, Inc.                                          | CUSIP: 29786A106<br>LEI: 54930089Q7XT501AEA40 | Long             | EC               | CORP              | US        |     80000 | NS      | $3998400.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis, Inc.                                | Exelixis, Inc.                                      | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |     40000 | NS      | $1715600.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Expeditors International Of Washington Inc.   | Expeditors International of Washington, Inc.        | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |     10000 | NS      | $1432300.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Flywire Corporation                           | Flywire Corporation                                 | CUSIP: 302492103<br>LEI: 54930055DSV7NNY4VY66 | Long             | EC               | CORP              | US        |    200000 | NS      | $2328000.00    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastly Inc.                                   | Fastly, Inc.                                        | CUSIP: 31188V100<br>LEI: 549300E2FZC83FJ3H565 | Long             | EC               | CORP              | US        |    100000 | NS      | $2906000.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Hermes Inc                          | Federated Hermes, Inc. Class B                      | CUSIP: 314211103<br>LEI: R05X5UQ874RGFF7HHD84 | Long             | EC               | CORP              | US        |     10000 | NS      | $567100.00     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc                               | First Solar, Inc.                                   | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |     10000 | NS      | $1972600.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Below Inc                                | Five Below, Inc.                                    | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |     12000 | NS      | $2741760.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowers Foods, Inc.                           | Flowers Foods, Inc.                                 | CUSIP: 343498101<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | EC               | CORP              | US        |    160000 | NS      | $1304000.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluence Energy Inc                            | Fluence Energy, Inc. Class A                        | CUSIP: 34379V103<br>LEI: 25490043LHZ97BT5PP29 | Long             | EC               | CORP              | US        |    200000 | NS      | $2752000.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Forestar Group Inc.                           | Forestar Group, Inc.                                | CUSIP: 346232101<br>LEI: 549300BC2UB0GHV60V70 | Long             | EC               | CORP              | US        |     40000 | NS      | $977600.00     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontdoor Inc                                 | Frontdoor, Inc.                                     | CUSIP: 35905A109<br>LEI: 5493008RB0JZJI3QGZ06 | Long             | EC               | CORP              | US        |     30000 | NS      | $1585800.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| The Gap Inc.                                  | Gap, Inc. (The)                                     | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |    100000 | NS      | $2420000.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Garrett Motion Inc                            | Garrett Motion, Inc.                                | CUSIP: 366505105<br>LEI: 549300LS5WT7EMBNV724 | Long             | EC               | CORP              | CH        |     80000 | NS      | $1453600.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| General Mills, Inc.                           | General Mills, Inc.                                 | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |     60000 | NS      | $2233200.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentex Corp                                   | Gentex Corporation                                  | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Long             | EC               | CORP              | US        |     60000 | NS      | $1311000.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc.                          | Gilead Sciences, Inc.                               | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     10000 | NS      | $1393700.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Guardian Pharmacy Services Inc.               | Guardian Pharmacy Services, Inc.                    | CUSIP: 40145W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20000 | NS      | $753200.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Haemonetics Corp                              | Haemonetics Corporation                             | CUSIP: 405024100<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | EC               | CORP              | US        |     10000 | NS      | $563600.00     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc                     | Halozyme Therapeutics, Inc.                         | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |     50000 | NS      | $3231500.00    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Harley-Davidson, Inc.                         | Harley-Davidson, Inc.                               | CUSIP: 412822108<br>LEI: ZDNAWZWXIKMWI51R2A08 | Long             | EC               | CORP              | US        |     60000 | NS      | $1213200.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmony Biosciences Holdings Inc              | Harmony Biosciences Holdings, Inc.                  | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     80000 | NS      | $2240800.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Services Group Inc.                | Healthcare Services Group, Inc.                     | CUSIP: 421906108<br>LEI: 529900GVZ1D2FBYMS719 | Long             | EC               | CORP              | US        |    160000 | NS      | $2968000.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Hecla Mining Company                          | Hecla Mining Company                                | CUSIP: 422704106<br>LEI: 5493009Y6HOBZD1QD537 | Long             | EC               | CORP              | US        |      2000 | NS      | $37260.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Hershey Co. (The)                             | Hershey Company (The)                               | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |      8000 | NS      | $1663120.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Hertz Global Holdings Inc.                    | Hertz Global Holdings, Inc.                         | CUSIP: 42806J700<br>LEI: 549300NBK3K85MH1EX16 | Long             | EC               | CORP              | US        |    300000 | NS      | $1383000.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Grand Vacations Inc                    | Hilton Grand Vacations, Inc.                        | CUSIP: 43283X105<br>LEI: 549300O9K6MFD8D07574 | Long             | EC               | CORP              | US        |     20000 | NS      | $782400.00     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc.                                   | Humana, Inc.                                        | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |     10000 | NS      | $1733900.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ICF International Inc                         | ICF International, Inc.                             | CUSIP: 44925C103<br>LEI: 5493003KYFDDC5B3WY64 | Long             | EC               | CORP              | US        |     10000 | NS      | $652900.00     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| iRhythm Holdings Inc.                         | IRhythm Holdings, Inc.                              | CUSIP: 450056106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28000 | NS      | $3304560.00    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Immunocore Holdings plc                       | Immunocore Holdings plc                             | CUSIP: 45258D105<br>LEI: 213800IUE3DFS84BVN18 | Long             | EC               | CORP              | GB        |     60000 | NS      | $1809000.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Incyte Corporation.                           | Incyte Corporation                                  | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               | CORP              | US        |     30000 | NS      | $2823600.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingram Micro Holding Corporation              | Ingram Micro Holding Corporation                    | CUSIP: 457152106<br>LEI: 9845008639BC538AB065 | Long             | EC               | CORP              | US        |    100000 | NS      | $2331000.00    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovex International Inc.                    | Innovex International, Inc.                         | CUSIP: 457651107<br>LEI: 5299007REICYIJNMW197 | Long             | EC               | CORP              | US        |     40000 | NS      | $975600.00     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Inspire Medical Systems Inc                   | Inspire Medical Systems, Inc.                       | CUSIP: 457730109<br>LEI: 549300XQQCQ7HCJKTW25 | Long             | EC               | CORP              | US        |     10000 | NS      | $515800.00     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Innoviva Inc                                  | Innoviva, Inc.                                      | CUSIP: 45781M101<br>LEI: 549300ACOX4QTBES6535 | Long             | EC               | CORP              | US        |    140000 | NS      | $3262000.00    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| InterDigital, Inc.                            | InterDigital, Inc.                                  | CUSIP: 45867G101<br>LEI: 529900HQAUTC3VI47G64 | Long             | EC               | CORP              | US        |      6000 | NS      | $1812000.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Ziff Davis Inc                                | Ziff Davis, Inc.                                    | CUSIP: 48123V102<br>LEI: 5493008OJYGLHD7MXA18 | Long             | EC               | CORP              | US        |     50000 | NS      | $2098000.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark Corporation                    | Kimberly-Clark Corporation                          | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |      6000 | NS      | $578820.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinross Gold Corp.                            | Kinross Gold Corporation                            | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |      4000 | NS      | $122080.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Kohl's Corp.                                  | Kohl's Corporation                                  | CUSIP: 500255104<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | EC               | CORP              | US        |    200000 | NS      | $2580000.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| The Kraft Heinz Co.                           | Kraft Heinz Company (The)                           | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |     40000 | NS      | $899600.00     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corporation                              | Lear Corporation                                    | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |     10000 | NS      | $1210800.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp.                                  | Lennar Corporation Class A                          | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |     10000 | NS      | $868400.00     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Lyft Inc                                      | Lyft, Inc.                                          | CUSIP: 55087P104<br>LEI: 549300H7I5VN334XVZ52 | Long             | EC               | CORP              | US        |    200000 | NS      | $2660000.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| MSC Industrial Direct Co Inc.                 | MSC Industrial Direct Company, Inc. Class A         | CUSIP: 553530106<br>LEI: 0XVKH0LN6YGOWO2EGO17 | Long             | EC               | CORP              | US        |     10000 | NS      | $922700.00     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Macy's, Inc.                                  | Macy's, Inc.                                        | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               | CORP              | US        |    100000 | NS      | $1809000.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Madden(Steven)Ltd.                            | Steven Madden Ltd.                                  | CUSIP: 556269108<br>LEI: 549300Z9GZ7GYJWSGF43 | Long             | EC               | CORP              | US        |     80000 | NS      | $2713600.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp.                      | Marathon Petroleum Corporation                      | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |      4000 | NS      | $976720.00     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Match Group Inc                               | Match Group, Inc.                                   | CUSIP: 57667L107<br>LEI: 15OMOPB0A8K0EFUVD031 | Long             | EC               | CORP              | US        |     60000 | NS      | $1842600.00    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Maximus Inc                                   | Maximus, Inc.                                       | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |     40000 | NS      | $2564000.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Pediatrix Medical Group Inc                   | Pediatrix Medical Group, Inc.                       | CUSIP: 58502B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     60000 | NS      | $1283400.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings Inc.                         | Medpace Holdings, Inc.                              | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |      6000 | NS      | $2881140.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury General Corporation                   | Mercury General Corporation                         | CUSIP: 589400100<br>LEI: 5493001Q9EXPCEL4W527 | Long             | EC               | CORP              | US        |     20000 | NS      | $1763000.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MongoDB Inc.                                  | MongoDB, Inc.                                       | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |     10000 | NS      | $2447700.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Monte Rosa Therapeutics Inc                   | Monte Rosa Therapeutics, Inc.                       | CUSIP: 61225M102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     60000 | NS      | $987000.00     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| The Mosaic Company                            | Mosaic Company (The)                                | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |     80000 | NS      | $2040000.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| National Vision Holdings Inc                  | NATIONAL VISION HOLDINGS, INC.                      | CUSIP: 63845R107<br>LEI: 549300JHURCBLI5ROA42 | Long             | EC               | CORP              | US        |    100000 | NS      | $2590000.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc                    | Neurocrine Biosciences, Inc.                        | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |     20000 | NS      | $2634800.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corporation                           | Newmont Corporation                                 | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |      4000 | NS      | $433000.00     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Nextpower Inc.                                | Nextpower, Inc.                                     | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16000 | NS      | $1928800.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Trust Corporation                    | Northern Trust Corporation                          | CUSIP: 665859104<br>LEI: 549300GLF98S992BC502 | Long             | EC               | CORP              | US        |     14000 | NS      | $1953980.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Novavax Inc                                   | Novavax, Inc.                                       | CUSIP: 670002401<br>LEI: 529900J4GJHPEPQ23205 | Long             | EC               | CORP              | US        |     40000 | NS      | $325600.00     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutex Health Inc                              | Nutex Health, Inc.                                  | CUSIP: 67079U306<br>LEI: 254900RSD2OET3HENJ50 | Long             | EC               | CORP              | US        |     20000 | NS      | $1900800.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuvation Bio Inc                              | Nuvation Bio, Inc.                                  | CUSIP: 67080N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100000 | NS      | $429000.00     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Ollies Bargain Outlet Holdings Inc.           | Ollie's Bargain Outlet Holdings, Inc.               | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |     20000 | NS      | $1840800.00    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| PVH Corp.                                     | PVH Corporation                                     | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |     20000 | NS      | $1395200.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Palomar Holdings Inc                          | Palomar Holdings, Inc.                              | CUSIP: 69753M105<br>LEI: 549300DOI1MUW11BLX74 | Long             | EC               | CORP              | US        |     10000 | NS      | $1195000.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp.                     | Pan American Silver Corporation                     | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |      4000 | NS      | $218520.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Par Pacific Holdings, Inc.                    | Par Pacific Holdings, Inc.                          | CUSIP: 69888T207<br>LEI: 549300BTNS7MHSHRLR55 | Long             | EC               | CORP              | US        |     40000 | NS      | $2505600.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Paramount Skydance Corp.                      | Paramount Skydance Corporation                      | CUSIP: 69932A204<br>LEI: 529900B6VAJG54Y9QF02 | Long             | EC               | CORP              | US        |    140000 | NS      | $1262800.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Paycom Software Inc                           | Paycom Software, Inc.                               | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |     16000 | NS      | $1944640.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico Inc                                   | PepsiCo, Inc.                                       | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     10000 | NS      | $1552900.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc.                                   | Pfizer, Inc.                                        | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |     40000 | NS      | $1123200.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Phathom Pharmaceuticals Inc                   | PHATHOM PHARMACEUTICALS INC COM                     | CUSIP: 71722W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     80000 | NS      | $888800.00     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Phibro Animal Health Corporation              | Phibro Animal Health Corporation                    | CUSIP: 71742Q106<br>LEI: 549300U24SP4AF2JUX52 | Long             | EC               | CORP              | US        |     40000 | NS      | $2212400.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Fitness Inc.                           | Planet Fitness, Inc. Class A                        | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |     24000 | NS      | $1785120.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Post Holdings Inc.                            | Post Holdings, Inc.                                 | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |      6000 | NS      | $593160.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Solutions International, Inc.           | POWER SOLUTIONS INTERNATIONAL, INC.                 | CUSIP: 73933G202<br>LEI: 549300JWGWDXC70SNH31 | Long             | EC               | CORP              | US        |     60000 | NS      | $3652800.00    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Praxis Precision Medicines Inc                | Praxis Precision Medicines, Inc.                    | CUSIP: 74006W207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4000 | NS      | $1288760.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| PROG Holdings Inc.                            | PROG Holdings, Inc.                                 | CUSIP: 74319R101<br>LEI: 549300DHYTLBOVRXIG52 | Long             | EC               | CORP              | US        |     40000 | NS      | $1147600.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Progyny Inc                                   | Progyny, Inc.                                       | CUSIP: 74340E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    200000 | NS      | $3396000.00    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Protagonist Therapeutics Inc                  | Protagonist Therapeutics, Inc.                      | CUSIP: 74366E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10000 | NS      | $1054000.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Proto Labs Inc                                | Proto Labs, Inc.                                    | CUSIP: 743713109<br>LEI: 529900QHG5MGWT2WQQ09 | Long             | EC               | CORP              | US        |     50000 | NS      | $2851000.00    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Qualys Inc                                    | Qualys, Inc.                                        | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |     40000 | NS      | $3514000.00    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| RPC Inc                                       | RPC, Inc.                                           | CUSIP: 749660106<br>LEI: 549300ZDXAFBC3SB4918 | Long             | EC               | CORP              | US        |    100000 | NS      | $708000.00     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Restaurant Brands International Inc           | Restaurant Brands International, Inc.               | CUSIP: 76131D103<br>LEI: 5299009RXTX9DN9AKJ98 | Long             | EC               | CORP              | CA        |     40000 | NS      | $2956000.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Reynolds Consumer Products Inc.               | Reynolds Consumer Products, Inc.                    | CUSIP: 76171L106<br>LEI: 894500ZQLNYY77S80A06 | Long             | EC               | CORP              | US        |     80000 | NS      | $1694400.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Rivian Automotive Inc                         | Rivian Automotive, Inc.                             | CUSIP: 76954A103<br>LEI: 25490004LNKJ84MFYY24 | Long             | EC               | CORP              | US        |     60000 | NS      | $903000.00     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Gold, Inc.                              | Royal Gold, Inc.                                    | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |      1000 | NS      | $254490.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp.                      | SBA Communications Corporation                      | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |      8000 | NS      | $1376880.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Sezzle Inc.                                   | Sezzle, Inc.                                        | CUSIP: 78435P105<br>LEI: 9845000CA64541AE3I35 | Long             | EC               | CORP              | US        |     60000 | NS      | $3797400.00    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| SPS Commerce Inc                              | SPS Commerce, Inc.                                  | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Long             | EC               | CORP              | US        |     10000 | NS      | $556700.00     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| SSR Mining Inc                                | SSR Mining, Inc.                                    | CUSIP: 784730103<br>LEI: 549300JD2KR7AB9DYJ38 | Long             | EC               | CORP              | US        |     10000 | NS      | $294000.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Sally Beauty Holdings Inc.                    | Sally Beauty Holdings, Inc.                         | CUSIP: 79546E104<br>LEI: 529900VXW6E8ONDIQ271 | Long             | EC               | CORP              | US        |    200000 | NS      | $2770000.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Savers Value Village Inc.                     | Savers Value Village Inc                            | CUSIP: 80517M109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    300000 | NS      | $2232000.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB Ltd.                                      | SLB Ltd.                                            | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |     40000 | NS      | $2055600.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Septerna Inc.                                 | Septerna, Inc.                                      | CUSIP: 81734D104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100000 | NS      | $2403000.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoals Technologies Group Inc                 | Shoals Technologies Group, Inc.                     | CUSIP: 82489W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    400000 | NS      | $2632000.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Short-Term Invts T                            | Invesco Treasury Portfolio Institutional Class      | CUSIP: 825252406<br>LEI: 549300UJV6OHYATSFU27 | Long             | STIV             | RF                | US        | 157492029 | NS      | $157492029.10  | 39.80%            |  |  |  | No            |                  1 | On Loan: No      |
| The J M Smucker Company                       | J M Smucker Company (The)                           | CUSIP: 832696405<br>LEI: 5493000WDH6A0LHDJD55 | Long             | EC               | CORP              | US        |     10000 | NS      | $964400.00     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaredge Technologies Inc                    | SolarEdge Technologies, Inc.                        | CUSIP: 83417M104<br>LEI: 5493000K6Y58XXPDF853 | Long             | EC               | CORP              | IL        |     60000 | NS      | $3063000.00    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp.                               | Starbucks Corporation                               | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |     20000 | NS      | $1791800.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp.                            | State Street Corporation                            | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |     10000 | NS      | $1265600.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Stoke Therapeutics Inc                        | Stoke Therapeutics, Inc.                            | CUSIP: 86150R107<br>LEI: 549300RD25SS2DIJHJ67 | Long             | EC               | CORP              | US        |     80000 | NS      | $2604800.00    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneX Group Inc                              | StoneX Group, Inc.                                  | CUSIP: 861896108<br>LEI: 549300JUF07L8VF02M60 | Long             | EC               | CORP              | US        |     21000 | NS      | $1693650.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunrun Inc.                                   | SUNRUN, INC.                                        | CUSIP: 86771W105<br>LEI: 54930007SJ77CI66U531 | Long             | EC               | CORP              | US        |    100000 | NS      | $1356000.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financial                           | Synchrony Financial                                 | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |     30000 | NS      | $2040600.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corporation                             | Sysco Corporation                                   | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |     30000 | NS      | $2139900.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Talen Energy Corporation                      | Talen Energy Corporation                            | CUSIP: 87422Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10000 | NS      | $3192300.00    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Tarsus Pharmaceuticals Inc                    | Tarsus Pharmaceuticals, Inc.                        | CUSIP: 87650L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16000 | NS      | $1122400.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| 10X Genomics Inc                              | 10X Genomics, Inc. Class A                          | CUSIP: 88025U109<br>LEI: 5493003Z6741WNLG7H43 | Long             | EC               | CORP              | US        |     60000 | NS      | $1273800.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| The Trade Desk Inc                            | Trade Desk, Inc. (The) CLASS A                      | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |     40000 | NS      | $907600.00     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Tootsie Roll Industries Inc.                  | Tootsie Roll Industries, Inc.                       | CUSIP: 890516107<br>LEI: 529900SBKOV9XX4M4Q35 | Long             | EC               | CORP              | US        |     61800 | NS      | $2640096.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group Inc.                        | TransMedics Group, Inc.                             | CUSIP: 89377M109<br>LEI: 549300060GVOSMWARH50 | Long             | EC               | CORP              | US        |     30000 | NS      | $2982300.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Companies, Inc.                     | Travelers Companies, Inc. (The)                     | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |      4000 | NS      | $1166720.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Trinet Group Inc                              | TriNet Group, Inc.                                  | CUSIP: 896288107<br>LEI: 5299003FJVBETSFKE990 | Long             | EC               | CORP              | US        |     20000 | NS      | $728600.00     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Ubiquiti Inc                                  | Ubiquiti, Inc.                                      | CUSIP: 90353W103<br>LEI: 5299007MITA4DMQCU747 | Long             | EC               | CORP              | US        |      4000 | NS      | $3161160.00    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| UiPath Inc.                                   | UIPATH INC - CLASS A                                | CUSIP: 90364P105<br>LEI: 5493000YP61KBELDHT53 | Long             | EC               | CORP              | US        |    200000 | NS      | $2220000.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| UL Solutions Inc.                             | UL Solutions, Inc.                                  | CUSIP: 903731107<br>LEI: 549300F7CUV5ESKV9P71 | Long             | EC               | CORP              | US        |     30000 | NS      | $2571300.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Ulta Beauty Inc                               | Ulta Beauty, Inc.                                   | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |      7000 | NS      | $3658970.00    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| United Natural Foods, Inc.                    | United Natural Foods, Inc.                          | CUSIP: 911163103<br>LEI: 549300GKGW6WPZ282D40 | Long             | EC               | CORP              | US        |    100000 | NS      | $4506000.00    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Display Corp.                       | Universal Display Corporation                       | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10000 | NS      | $916600.00     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Services, Inc.               | Universal Health Services, Inc. Class B             | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |     10000 | NS      | $1789700.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Upwork Inc                                    | Upwork, Inc. Class A                                | CUSIP: 91688F104<br>LEI: 5493004QJ6WWBXVE2S70 | Long             | EC               | CORP              | US        |    200000 | NS      | $2192000.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Outfitters Inc.                         | Urban Outfitters, Inc.                              | CUSIP: 917047102<br>LEI: 549300N3DUFR5U6NRN38 | Long             | EC               | CORP              | US        |     40000 | NS      | $2534000.00    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Valley National Bancorp.                      | Valley National Bancorp                             | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |    140000 | NS      | $1719200.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc.                   | Verizon Communications, Inc.                        | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     50000 | NS      | $2510000.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| ViaSat, Inc.                                  | Viasat, Inc.                                        | CUSIP: 92552V100<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | EC               | CORP              | US        |     70000 | NS      | $3206000.00    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corporation                           | Visteon Corporation                                 | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |     30000 | NS      | $2733300.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Vital Farms Inc.                              | Vital Farms, Inc.                                   | CUSIP: 92847W103<br>LEI: 549300S6NYY7ER3XOT61 | Long             | EC               | CORP              | US        |     40000 | NS      | $564800.00     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Alliance Bancorp                      | Western Alliance Bancorp                            | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |     20000 | NS      | $1417000.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| The Western Union Company                     | Western Union Company (The)                         | CUSIP: 959802109<br>LEI: 28ID94QU1140NC23S047 | Long             | EC               | CORP              | US        |    100000 | NS      | $873000.00     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc                                  | Wingstop, Inc.                                      | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |     16000 | NS      | $2479520.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Wynn Resorts Limited                          | Wynn Resorts Ltd.                                   | CUSIP: 983134107<br>LEI: 254900CEKKWIHTEAB172 | Long             | EC               | CORP              | US        |     20000 | NS      | $2031000.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Yeti Holdings Inc                             | YETI Holdings, Inc.                                 | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |     60000 | NS      | $2195400.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Nabors Industries Ltd. $166.6667 - Warrants         | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      8000 | NS      | $3104.00       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegion PLC                                  | Allegion plc                                        | CUSIP: G0176J109<br>LEI: 984500560CAC2E6FB757 | Long             | EC               | CORP              | IE        |     20000 | NS      | $2905800.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglogold Ashanti PLC                         | Anglogold Ashanti plc                               | CUSIP: G0378L100<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |      2000 | NS      | $194720.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcos Dorados Holdings Inc                    | Arcos Dorados Holdings, Inc.                        | CUSIP: G0457F107<br>LEI: 54930023P2MIZN13DQ85 | Long             | EC               | CORP              | UY        |    100000 | NS      | $825000.00     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Aura Minerals Inc (Vg)                        | Aura Minerals, Inc.                                 | CUSIP: G06973112<br>LEI: 549300YIRI8PSDM2FV20 | Long             | EC               | CORP              | US        |      6000 | NS      | $489600.00     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Infrastructure Partners LP         | Brookfield Infrastructure Partners, L.P.            | CUSIP: G16252101<br>LEI: 549300WEH5R2OODI7Y90 | Long             | EC               | CORP              | BM        |     80000 | NS      | $2889600.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Cimpress PLC                                  | Cimpress plc                                        | CUSIP: G2143T103<br>LEI: 549300X1IFD75XISOR81 | Long             | EC               | CORP              | IE        |     20000 | NS      | $1460000.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding Ltd            | Credo Technology Group Holding Ltd.                 | CUSIP: G25457105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20000 | NS      | $1877400.00    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Dole PLC                                      | Dole plc                                            | CUSIP: G27907107<br>LEI: 635400JUG5XJXOPPJJ47 | Long             | EC               | CORP              | IE        |    140000 | NS      | $2000600.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| DLocal Limited                                | Dlocal Ltd./Uruguay                                 | CUSIP: G29018101<br>LEI: N/A                  | Long             | EC               | CORP              | UY        |    200000 | NS      | $2594000.00    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptiv PLC                                     | Aptiv plc                                           | CUSIP: G3265R107<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |     36000 | NS      | $2499840.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEX LNG Ltd.                                 | FLEX LNG Ltd.                                       | CUSIP: G35947202<br>LEI: 21380084THHU3MPC3647 | Long             | EC               | CORP              | BM        |     40000 | NS      | $1188400.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresh Del Monte Produce Inc.                  | Fresh Del Monte Produce, Inc.                       | CUSIP: G36738105<br>LEI: 529900I72V9F0FEZR228 | Long             | EC               | CORP              | US        |     40000 | NS      | $1610400.00    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| GigaCloud Technology Inc.                     | GigaCloud Technology, Inc.                          | CUSIP: G38644103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30000 | NS      | $1361400.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Hamilton Insurance Group Ltd.                 | Hamilton Insurance Group Ltd.                       | CUSIP: G42706104<br>LEI: 549300W92BN1FIEXG871 | Long             | EC               | CORP              | BM        |     60000 | NS      | $1789800.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Herbalife Ltd.                                | Herbalife Ltd.                                      | CUSIP: G4412G101<br>LEI: 549300BA7TYPBSZZIA41 | Long             | EC               | CORP              | US        |     60000 | NS      | $883200.00     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Ihs Holding Limited                           | IHS Holding Ltd.                                    | CUSIP: G4701H109<br>LEI: 213800CLGMKL63VKTD94 | Long             | EC               | CORP              | GB        |    100000 | NS      | $823000.00     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC                      | Jazz Pharmaceuticals plc                            | CUSIP: G50871105<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | IE        |      4000 | NS      | $756200.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Kiniksa Pharmaceuticals International PLC     | Kiniksa Pharmaceuticals International plc           | CUSIP: G52694109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20000 | NS      | $963000.00     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Noble Corporation PLC                         | Noble Corp plc                                      | CUSIP: G65431127<br>LEI: 549300I3HBUNXO0OG954 | Long             | EC               | CORP              | US        |     40000 | NS      | $1962800.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomad Foods Ltd.                              | Nomad Foods Ltd.                                    | CUSIP: G6564A105<br>LEI: 5493000ZZ1837DS2SI43 | Long             | EC               | CORP              | GB        |    160000 | NS      | $1537600.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Pagseguro Digital Ltd                         | Pagseguro Digital Ltd                               | CUSIP: G68707101<br>LEI: 391200VY4YW47I4HGH62 | Long             | EC               | CORP              | KY        |    200000 | NS      | $2004000.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Patria Investments Limited                    | Patria Investments Limited Class A                  | CUSIP: G69451105<br>LEI: 254900MZMZN2NNVXYO82 | Long             | EC               | CORP              | US        |     80000 | NS      | $1008000.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Renaissancere Holdings Ltd.                   | RenaissanceRe Holdings Ltd.                         | CUSIP: G7496G103<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EC               | CORP              | BM        |      4000 | NS      | $1188920.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Royalty Pharma PLC                            | Royalta Pharma plc Class A                          | CUSIP: G7709Q104<br>LEI: 549300FGFN7VOK8BZR03 | Long             | EC               | CORP              | US        |     20000 | NS      | $959400.00     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensata Technologies Holding PLC              | Sensata Technologies Holding plc                    | CUSIP: G8060N102<br>LEI: 529900MS7KFYCY9MS037 | Long             | EC               | CORP              | US        |     40000 | NS      | $1408800.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Signet Jewelers Limited                       | Signet Jewelers Ltd.                                | CUSIP: G81276100<br>LEI: 549300N3XPGE91WV7M22 | Long             | EC               | CORP              | US        |     30000 | NS      | $2539200.00    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| SiriusPoint Ltd                               | SiriusPoint Ltd.                                    | CUSIP: G8192H106<br>LEI: 549300OGXFI85N3YZZ51 | Long             | EC               | CORP              | BM        |     40000 | NS      | $861600.00     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Teekay Corporation Ltd.                       | Teekay Corp Ltd.                                    | CUSIP: G8726T105<br>LEI: YHKQM2RIPKZYOZ6RVZ46 | Long             | EC               | CORP              | BM        |     60000 | NS      | $732600.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Teekay Tankers Ltd.                           | Teekay Tankers Ltd.                                 | CUSIP: G8726X106<br>LEI: 549300DE8ZAIYS2T6Q22 | Long             | EC               | CORP              | CA        |     20000 | NS      | $1466400.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| XP Inc.                                       | XP, Inc.                                            | CUSIP: G98239109<br>LEI: 5493008KDA8NBZRJST80 | Long             | EC               | CORP              | BR        |    100000 | NS      | $1904000.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Adecoagro SA                                  | ADECOAGRO S.A.                                      | CUSIP: L00849106<br>LEI: 529900Q00UR5LFELO811 | Long             | EC               | CORP              | US        |    100000 | NS      | $1502000.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Millicom International Cellular SA            | Millicom International Cellular S.A.                | CUSIP: L6388F110<br>LEI: 549300CTHC1CP86P2G96 | Long             | EC               | CORP              | LU        |     16000 | NS      | $1199040.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Check Point Software Technologies Ltd.        | Check Point Software Technologies Ltd.              | CUSIP: M22465104<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |     20000 | NS      | $2857000.00    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Matrix IT Ltd.                                | Matrix IT Ltd.                                      | CUSIP: M6859E153<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |     35269 | NS      | $964959.84     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Monday.Com Limited                            | Monday.com Ltd.                                     | CUSIP: M7S64H106<br>LEI: 984500MDAFVD86E3B328 | Long             | EC               | CORP              | IL        |     10000 | NS      | $691100.00     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| QIAGEN NV                                     | QIAGEN N.V.                                         | CUSIP: N72482156<br>LEI: 54930036WK3GMCN17Z57 | Long             | EC               | CORP              | NL        |     80000 | NS      | $3203200.00    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Latinoamericano De Comercio Exterior SA | Banco Latinoamericano de Comercio Exterior S.A. ADR | CUSIP: P16994132<br>LEI: 549300CN3134K4LC0651 | Long             | EC               | CORP              | PA        |     20000 | NS      | $1021600.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Copa Holdings SA                              | Copa Holdings, S.A. Class A                         | CUSIP: P31076105<br>LEI: 529900BB9UQJV6QQHA59 | Long             | EC               | CORP              | US        |     10000 | NS      | $1136100.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION              | Russell 2000 Index/Old 05/15/2026 2450 Put          | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Long             | DE               | CORP              | US        |       750 | NS      | $5895000.00    | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION              | Russell 2000 Index/Old 06/18/2026 1200 Call         | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |      -750 | NS      | $-97504500.00  | -24.64%           |  |  |  | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION              | S&P 500 INDEX 05/15/2026 6500 Put                   | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Long             | DE               | CORP              | US        |       360 | NS      | $6242400.00    | 1.58%             |  |  |  | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION              | S&P 500 INDEX 06/18/2026 3400 Call                  | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |      -360 | NS      | $-113126400.00 | -28.59%           |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-18

**Name of Applicant:** Hussman Investment Trust

**Signature:** Hussman Investment Trust

**Name of Signer:** Brian Johnston

**Title:** AVP, Fund Acccounting