# EDGAR Filing Document

**Accession Number:** 0002013853
**File Stem:** 0001752724-25-211599
**Filing Date:** 2025-8
**Character Count:** 200331
**Document Hash:** 9d73b7bd1c0bbd7bc53c423c728606e8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-211599.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-211599

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** New Age Alpha Funds Trust
- **CENTRAL INDEX KEY:** 0002013853

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23945
- **FILM NUMBER:** 251272056

**BUSINESS ADDRESS:**
- **STREET 1:** 555 THEODORE FREMD AVENUE
- **STREET 2:** SUITE A-101
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580
- **BUSINESS PHONE:** 212-922-2699

**MAIL ADDRESS:**
- **STREET 1:** 555 THEODORE FREMD AVENUE
- **STREET 2:** SUITE A-101
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580

## Series and Classes Contracts Data

### NAA Opportunity Fund (Series ID: S000087629)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000253485 | Class C             |  |
| C000253486 | Class P             |  |
| C000253487 | Institutional Class |  |
| C000253488 | Class A             |  |

## Nport-Ex

---

| |
|:---|
| **NAA OPPORTUNITY FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 61.0%** |  |
|  | **Communications - 7.3%** |  |
| 4238 | Anterix, Inc.<sup>(a)</sup> | $108705 |
| 8418 | AT&T, Inc. | 243617 |
| 7661 | ATN International, Inc.<sup>(a)</sup> | 124491 |
| 48 | Booking Holdings, Inc. | 277883 |
| 469 | Expedia Group, Inc.<sup>(a)</sup> | 79111 |
| 393 | GoDaddy, Inc., Class A<sup>(a)</sup> | 70764 |
| 2152 | HealthStream, Inc.<sup>(a)</sup> | 59546 |
| 1262 | IDT Corporation, Class B | 86220 |
| 6730 | Iridium Communications, Inc.<sup>(a)</sup> | 203044 |
| 14670 | Liberty Global Ltd., Class A<sup>(a)</sup> | 146847 |
| 272 | Meta Platforms, Inc., Class A | 200760 |
| 3840 | Millicom International Cellular S.A. | 143885 |
| 82 | Netflix, Inc.<sup>(a)</sup> | 109809 |
| 11156 | Spok Holdings, Inc. | 197238 |
| 5368 | Telephone and Data Systems, Inc. | 190993 |
| 821 | T-Mobile US, Inc. | 195611 |
| 5082 | Verizon Communications, Inc. | 219898 |
|  |  | 2658422 |
|  | **Consumer Discretionary - 3.5%** |  |
| 545 | Adtalem Global Education, Inc.<sup>(a)</sup> | 69340 |
| 1205 | Armstrong World Industries, Inc. | 195741 |
| 2385 | Carnival Corporation | 67066 |
| 1001 | Churchill Downs, Inc. | 101101 |
| 795 | eBay, Inc. <sup>(a)</sup> | 59196 |
| 1463 | Fortune Brands Innovations, Inc. | 75315 |
| 285 | Grand Canyon Education, Inc.<sup>(a)</sup> | 53865 |
| 1426 | Kontoor Brands, Inc. | 94073 |
| 2814 | Masco Corporation | 181109 |
| 1836 | Prog Holdings, Inc. | 53887 |
| 755 | PVH Corporation | 51793 |
| 315 | Ralph Lauren Corporation | 86398 |
| 2064 | Red Rock Resorts, Inc., Class A | 107390 |
| 301 | Royal Caribbean Cruises Ltd. | 94255 |
|  |  | 1290529 |

---

---

| |
|:---|
| **NAA OPPORTUNITY FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 61.0% (Continued)** |  |
|  | **Consumer Staples - 9.4%** |  |
| 3931 | Altria Group, Inc. | $230475 |
| 4548 | Brown-Forman Corporation, Class B | 122387 |
| 4057 | Church & Dwight Company, Inc. | 389917 |
| 2765 | Clorox Company (The) | 331994 |
| 2583 | Colgate-Palmolive Company | 234795 |
| 2271 | Constellation Brands, Inc., Class A | 369446 |
| 1657 | Estee Lauder Companies, Inc. (The), Class A | 133886 |
| 2284 | Hershey Company (The) | 379029 |
| 667 | Interparfums, Inc. | 87584 |
| 2628 | Kimberly-Clark Corporation | 338802 |
| 3267 | PepsiCo, Inc. | 431375 |
| 1486 | Philip Morris International, Inc. | 270645 |
| 2808 | Simply Good Foods Company (The)<sup>(a)</sup> | 88705 |
| 2273 | USANA Health Sciences, Inc.<sup>(a)</sup> | 69395 |
|  |  | 3478435 |
|  | **Energy - 4.1%** |  |
| 14899 | Antero Midstream Corporation | 282336 |
| 863 | Cheniere Energy, Inc. | 210158 |
| 2706 | Chevron Corporation | 387472 |
| 3144 | DT Midstream, Inc. | 345557 |
| 635 | Targa Resources Corporation | 110541 |
| 2493 | Williams Companies, Inc. (The) | 156585 |
|  |  | 1492649 |
|  | **Financials - 6.4%** |  |
| 1459 | AerCap Holdings N.V. <sup>(a)</sup> | 170704 |
| 2400 | Air Lease Corporation | 140376 |
| 210 | Ameriprise Financial, Inc. | 112083 |
| 6025 | Annaly Capital Management, Inc. | 113391 |
| 4039 | Artisan Partners Asset Management, Inc., Class A | 179049 |
| 2147 | Bancorp, Inc. (The)<sup>(a)</sup> | 122314 |
| 1363 | Commerce Bancshares, Inc. | 84738 |
| 9359 | Dynex Capital, Inc. | 114367 |
| 702 | Federal Agricultural Mortgage Corporation, Class C | 136385 |
| 730 | Goosehead Insurance, Inc., CLASS A<sup>(a)</sup> | 77022 |

---

---

| |
|:---|
| **NAA OPPORTUNITY FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 61.0% (Continued)** |  |
|  | **Financials - 6.4% (Continued)** |  |
| 2452 | Interactive Brokers Group, Inc., Class A | $135865 |
| 13740 | Invesco Mortgage Capital, Inc. | 107722 |
| 802 | Jackson Financial, Inc., Class A | 71210 |
| 1084 | LendingTree, Inc.<sup>(a)</sup> | 40184 |
| 13673 | MFA Financial, Inc. | 129347 |
| 8383 | Navient Corporation | 118200 |
| 14646 | Orchid Island Capital, Inc. | 102668 |
| 734 | QCR Holdings, Inc. | 49839 |
| 6376 | Regions Financial Corporation | 149963 |
| 7320 | Starwood Property Trust, Inc. | 146911 |
| 7090 | TPG RE Finance Trust, Inc. | 54735 |
|  |  | 2357073 |
|  | **Health Care - 2.8%** |  |
| 8511 | BioCryst Pharmaceuticals, Inc.<sup>(a)</sup> | 76259 |
| 1132 | Biogen, Inc.<sup>(a)</sup> | 142167 |
| 7375 | Bioventus, Inc.<sup>(a)</sup> | 48823 |
| 5387 | Certara, Inc.<sup>(a)</sup> | 63028 |
| 1196 | Cooper Companies, Inc. (The)<sup>(a)</sup> | 85107 |
| 367 | DaVita, Inc.<sup>(a)</sup> | 52279 |
| 6480 | Embecta Corporation<sup>(a)</sup> | 62791 |
| 1841 | Exelixis, Inc.<sup>(a)</sup> | 81142 |
| 1202 | Gilead Sciences, Inc. | 133266 |
| 1660 | Merck & Company, Inc. | 131406 |
| 5484 | Organon & Company | 53085 |
| 3917 | Premier, Inc., Class A | 85900 |
|  |  | 1015253 |
|  | **Industrials - 7.8%** |  |
| 1397 | 3M Company | 212680 |
| 16295 | ADT, Inc. | 138019 |
| 833 | Allegion plc | 120052 |
| 1218 | Allison Transmission Holdings, Inc. | 115698 |
| 259 | Applied Industrial Technologies, Inc. | 60205 |
| 1300 | Brady Corporation, Class A | 88361 |
| 5873 | Costamare, Inc. | 53503 |

---

---

| |
|:---|
| **NAA OPPORTUNITY FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 61.0% (Continued)** |  |
|  | **Industrials - 7.8% (Continued)** |  |
| 146 | Curtiss-Wright Corporation | $71328 |
| 122 | EMCOR Group, Inc. | 65257 |
| 1757 | Fluor Corporation | 90081 |
| 454 | Generac Holdings, Inc.<sup>(a)</sup> | 65017 |
| 4545 | Graco, Inc. | 390733 |
| 437 | Illinois Tool Works, Inc. | 108048 |
| 370 | Lennox International, Inc. | 212098 |
| 1402 | NEXTracker, Inc., Class A<sup>(a)</sup> | 76227 |
| 814 | Otis Worldwide Corporation | 80602 |
| 884 | Pentair PLC | 90751 |
| 492 | Snap-on, Inc. | 153101 |
| 2468 | Toro Company (The) | 174438 |
| 421 | Trane Technologies PLC | 184150 |
| 59 | TransDigm Group, Inc. <sup>(a)</sup> | 89718 |
| 1297 | United Airlines Holdings, Inc.<sup>(a)</sup> | 103280 |
| 286 | Valmont Industries, Inc. | 93399 |
|  |  | 2836746 |
|  | **Materials - 4.4%** |  |
| 375 | Carlisle Companies, Inc. | 140025 |
| 2148 | Newmont Corporation | 125142 |
| 2469 | Olympic Steel, Inc. | 80465 |
| 1403 | Reliance, Inc. | 440401 |
| 1558 | Royal Gold, Inc. | 277075 |
| 2575 | Ryerson Holding Corporation | 55543 |
| 4241 | Southern Copper Corporation | 429062 |
| 209 | WD-40 Company | 47671 |
|  |  | 1595384 |
|  | **Real Estate - 0.8%** |  |
| 11631 | AGNC Investment Corporation | 106889 |
| 1420 | McGrath RentCorporation | 164663 |
|  |  | 271552 |
|  | **Technology - 6.3%** |  |
| 14104 | Bandwidth, Inc., Class A<sup>(a)</sup> | 224254 |
| 471 | Booz Allen Hamilton Holding Corporation | 49045 |

---

---

| |
|:---|
| **NAA OPPORTUNITY FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 61.0% (Continued)** |  |
|  | **Technology - 6.3% (Continued)** |  |
| 501 | Cirrus Logic, Inc.<sup>(a)</sup> | $52232 |
| 2679 | Clear Secure, Inc., Class A | 74369 |
| 1908 | Dropbox, Inc., Class A<sup>(a)</sup> | 54569 |
| 161 | F5, Inc.<sup>(a)</sup> | 47386 |
| 133 | Gartner, Inc.<sup>(a)</sup> | 53761 |
| 4470 | Gen Digital, Inc. | 131418 |
| 804 | HealthEquity, Inc.<sup>(a)</sup> | 84227 |
| 227 | Mastercard, Inc., Class A | 127560 |
| 232 | Moody's Corporation | 116369 |
| 377 | MSCI, Inc. | 217431 |
| 548 | PTC, Inc.<sup>(a)</sup> | 94442 |
| 245 | S&P Global, Inc. | 129186 |
| 186 | Ubiquiti, Inc. | 76566 |
| 1137 | Veeva Systems, Inc., Class A<sup>(a)</sup> | 327433 |
| 1233 | Verisk Analytics, Inc. <sup>(a)</sup> | 384080 |
| 345 | Wix.com Ltd.<sup>(a)</sup> | 54669 |
|  |  | 2298997 |
|  | **Utilities - 8.2%** |  |
| 15373 | AES Corporation (The) | 161724 |
| 647 | American Electric Power Company, Inc. | 67133 |
| 1704 | American States Water Company | 130629 |
| 3493 | Atmos Energy Corporation | 538306 |
| 2166 | California Water Service Group | 98510 |
| 2847 | Consolidated Water Company Ltd. | 85467 |
| 1911 | Duke Energy Corporation | 225498 |
| 1511 | Edison International | 77968 |
| 1717 | Essential Utilities, Inc. | 63769 |
| 1843 | Evergy, Inc. | 127038 |
| 5353 | Genie Energy Ltd., Class B | 143889 |
| 3056 | National Fuel Gas Company | 258874 |
| 2531 | NextEra Energy, Inc. | 175702 |
| 4242 | NiSource, Inc. | 171122 |
| 3537 | OGE Energy Corporation | 156972 |
| 2135 | Otter Tail Corporation | 164587 |

---

---

| |
|:---|
| **NAA OPPORTUNITY FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Shares** |  |  |  | **Fair Value** |
|  | **COMMON STOCKS — 61.0% (Continued)** | **COMMON STOCKS — 61.0% (Continued)** | **COMMON STOCKS — 61.0% (Continued)** |  |
|  | **Utilities - 8.2% (Continued)** | **Utilities - 8.2% (Continued)** | **Utilities - 8.2% (Continued)** |  |
| 1397 | PG&E Corporation | PG&E Corporation | PG&E Corporation | $19474 |
| 2486 | Southern Company (The) | Southern Company (The) | Southern Company (The) | 228289 |
| 590 | WEC Energy Group, Inc. | WEC Energy Group, Inc. | WEC Energy Group, Inc. | 61478 |
| 1954 | York Water Company (The) | York Water Company (The) | York Water Company (The) | 61746 |
|  |  |  |  | 3018175 |
|  | **TOTAL COMMON STOCKS (Cost $21,622,312)** | **TOTAL COMMON STOCKS (Cost $21,622,312)** | **TOTAL COMMON STOCKS (Cost $21,622,312)** | 22313215 |
| **Principal <br> Amount ($)** |  | **Coupon Rate <br> (%)** | **Maturity** | **Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 27.4%** |  |  |  |
|  | **U.S. TREASURY BILLS — 27.4%** |  |  |  |
| 10000000 | United States Treasury Bill Series <sup>(b)</sup> |  | &nbsp;&nbsp;07/03/25 | 9997667 |
|  | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $9,997,678)** |  |  |  |
|  | **TOTAL INVESTMENTS - 88.4% (Cost $31,619,990)** |  |  | $32310882 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 11.6%** |  |  | 4224864 |
|  | **NET ASSETS - 100.0%** |  |  | $36535746 |

---

---

| | |
|:---|:---|
| LTD | - Limited Company |
| MSCI | - Morgan Stanley Capital International |
| NV | - Naamioze Vennootschap |
| PLC | - Public Limited Company |
| S/A | - Société Anonyme |

---

<sup>(a)</sup> Non-income producing security. <br><sup>(b)</sup> Zero coupon bond.

---

| |
|:---|
| **NAA OPPORTUNITY FUND** |
| **SCHEDULE OF TOTAL RETURN SWAPS (Unaudited)** |
| **June 30, 2025** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** |
| **Notional Amount at <br> June 30, 2025** | **Number of <br> Shares** | **Reference Obligation#** | **Floating Rate to <br> Pay** | **Maturity Date^** | **Fair Value** | **Upfront <br> payments/<br> receipts** | **Unrealized <br> Appreciation/ <br> (Depreciation)** |
| $306990 | 2095 | 3M Co | OBFR + 45 bps | 12/22/2025 | $7964 | $— | $7964 |
| 16968 | 124882 | 89Bio Inc | OBFR - 35 bps | 12/22/2025 | (39623) |  | (39623) |
| 4476 | 225175 | Abm Industries Inc | OBFR - 35 bps | 12/22/2025 | 15066 |  | 15066 |
| 172152 | 24442 | Adt Inc | OBFR + 45 bps | 11/21/2025 | 33563 |  | 33563 |
| 80578 | 818 | Adtalem Global Education | OBFR + 45 bps | 11/26/2025 | 22141 |  | 22141 |
| 12606 | 358324 | Advansix Inc | OBFR - 35 bps | 12/22/2025 | 62498 |  | 62498 |
| 179222 | 1832 | Aercap Holdings Nv | OBFR + 45 bps | 12/22/2025 | 30844 |  | 30844 |
| 293470 | 28702 | Aes Corp | OBFR + 45 bps | 11/21/2025 | 9474 |  | 9474 |
| 138830 | 15416 | Agnc Investment Corp | OBFR + 45 bps | 12/22/2025 | 9217 |  | 9217 |
| 171882 | 3600 | Air Lease Corp | OBFR + 45 bps | 12/22/2025 | 36272 |  | 36272 |
| 3700 | 349819 | Albemarle Corp | OBFR - 35 bps | 12/22/2025 | 122157 |  | 122157 |
| 104178 | 3763 | Alcoa Corp | OBFR + 45 bps | 11/25/2025 | 6494 |  | 6494 |
| 162855 | 912 | Align Technology Inc | OBFR + 45 bps | 11/25/2025 | 8515 |  | 8515 |
| 102946 | 789 | Allegion Plc | OBFR + 45 bps | 12/22/2025 | 9868 |  | 9868 |
| 208371 | 1827 | Allison Transmission | OBFR + 45 bps | 12/22/2025 | (39269) |  | (39269) |
| 326408 | 5896 | Altria Group Inc | OBFR + 45 bps | 12/22/2025 | 27111 |  | 27111 |
| 95147 | 970 | American Electric Power | OBFR + 45 bps | 12/22/2025 | 4496 |  | 4496 |
| 9906 | 280408 | American Healthcare | OBFR - 35 bps | 12/22/2025 | (83845) |  | (83845) |
| 191432 | 2555 | American States Water | OBFR + 45 bps | 12/22/2025 | 3525 |  | 3525 |
| 164722 | 315 | Ameriprise Financial | OBFR + 45 bps | 11/26/2025 | 1187 |  | 1187 |
| 2222 | 134859 | Amphenol Corp-Cl A | OBFR - 35 bps | 11/21/2025 | (83724) |  | (83724) |
| 137041 | 7250 | Annaly Capital Management | OBFR + 45 bps | 12/22/2025 | 6699 |  | 6699 |
| 239922 | 6358 | Anterix Inc | OBFR + 45 bps | 11/26/2025 | (80762) |  | (80762) |
| 151865 | 9614 | Antero Midstream Corp | OBFR + 45 bps | 12/22/2025 | 30145 |  | 30145 |
| 5879 | 205500 | Apogee Therapeutics | OBFR - 35 bps | 11/26/2025 | (48276) |  | (48276) |
| 191887 | 882 | Appfolio Inc - A | OBFR + 45 bps | 11/25/2025 | 10530 |  | 10530 |
| 165951 | 691 | Applied Industrial Technologies | OBFR + 45 bps | 11/21/2025 | (7430) |  | (7430) |
| 132421 | 331 | Applovin | OBFR + 45 bps | 11/26/2025 | (17016) |  | (17016) |
| 11650 | 98642 | Archer Aviation Inc | OBFR - 35 bps | 11/25/2025 | (27118) |  | (27118) |
| 277489 | 1808 | Armstrong World Industries | OBFR + 45 bps | 12/22/2025 | 12763 |  | 12763 |
| 205137 | 6058 | Artisan Partners Assets | OBFR + 45 bps | 11/21/2025 | 65247 |  | 65247 |
| 31177 | 190937 | Astria Therapeutics | OBFR - 53 bps | 11/26/2025 | 26408 |  | 26408 |
| 206258 | 8865 | At&T Inc | OBFR + 45 bps | 12/22/2025 | 49140 |  | 49140 |
| 6700 | 268341 | Atlanta Braves Holdings | OBFR - 35 bps | 12/22/2025 | (38572) |  | (38572) |
| 205958 | 11491 | Atn International Inc. | OBFR + 45 bps | 11/26/2025 | (16738) |  | (16738) |
| 5767 | 192692 | Avidity Biosciences | OBFR - 35 bps | 11/26/2025 | 29844 |  | 29844 |
| 6608 | 344862 | Ball Corp | OBFR - 35 bps | 11/21/2025 | (22083) |  | (22083) |
| 205079 | 4622 | Bancorp Inc | OBFR + 45 bps | 11/21/2025 | 56480 |  | 56480 |
| 350876 | 21155 | Bandwidth Inc. | OBFR + 45 bps | 12/22/2025 | (20166) |  | (20166) |
| 851 | 216260 | Biglari Holdings Inc | OBFR - 35 bps | 11/25/2025 | (31768) |  | (31768) |
| 105567 | 12767 | Biocryst Pharmaceuticals | OBFR + 45 bps | 11/26/2025 | 7076 |  | 7076 |
| 254817 | 1697 | Biogen Inc | OBFR + 45 bps | 11/21/2025 | (47324) |  | (47324) |
| 122827 | 16253 | Bioventus Inc - A | OBFR + 45 bps | 11/21/2025 | (16453) |  | (16453) |
| 24325 | 546602 | Bkv Corporation | OBFR - 35 bps | 11/25/2025 | (38572) |  | (38572) |
| 1885 | 354185 | Boeing Co | OBFR + 45 bps | 12/22/2025 | (38666) |  | (38666) |
| 149875 | 1326 | Booz Allen Hamilton | OBFR + 45 bps | 11/21/2025 | (13216) |  | (13216) |
| 125734 | 1950 | Brady Corporation | OBFR - 35 bps | 11/21/2025 | 5886 |  | 5886 |
| 8116 | 145867 | Brt Apartments Corp | OBFR + 45 bps | 12/22/2025 | 17072 |  | 17072 |
| 153646 | 3376 | California Water Service | OBFR + 45 bps | 12/22/2025 | (1667) |  | (1667) |
| 200498 | 2116 | Cal-Maine Foods Inc | OBFR + 45 bps | 12/22/2025 | 9180 |  | 9180 |
| 248182 | 563 | Carlisle Cos Inc | OBFR + 45 bps | 12/22/2025 | (44012) |  | (44012) |
| 84922 | 3577 | Carnival Corp | OBFR + 45 bps | 11/26/2025 | 14268 |  | 14268 |

---

---

| |
|:---|
| **NAA OPPORTUNITY FUND** |
| **SCHEDULE OF TOTAL RETURN SWAPS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** |
| **Notional Amount at <br> June 30, 2025** | **Number of <br> Shares** | **Reference Obligation#** | **Floating Rate to <br> Pay** | **Maturity Date^** | **Fair Value** | **Upfront <br> payments/<br> receipts** | **Unrealized <br> Appreciation/ <br> (Depreciation)** |
| $110223 | 6586 | Castle Biosciences Inc | OBFR - 35 bps | 11/25/2025 | $23865 | $— | $23865 |
| 3828 | 303869 | Cbiz Inc | OBFR - 35 bps | 12/22/2025 | 36857 |  | 36857 |
| 6107 | 184652 | Ceco Environmental Corp. | OBFR - 35 bps | 12/22/2025 | 16332 |  | 16332 |
| 17129 | 182236 | Celcuity Inc | OBFR - 35 bps | 11/21/2025 | (43752) |  | (43752) |
| 8379 | 186630 | Celldex Therapeutics | OBFR - 35 bps | 12/22/2025 | 18906 |  | 18906 |
| 3046 | 171497 | Centerspace | OBFR - 35 bps | 11/21/2025 | (12619) |  | (12619) |
| 16627 | 221718 | Centessa Pharmaceuticals | OBFR + 45 bps | 11/25/2025 | 3904 |  | 3904 |
| 132501 | 7885 | Century Aluminum Company | OBFR + 45 bps | 12/22/2025 | 8543 |  | 8543 |
| 73468 | 8081 | Certara Inc | OBFR - 35 bps | 11/21/2025 | 20250 |  | 20250 |
| 6983 | 171626 | Cg Oncology Inc | OBFR - 35 bps | 11/26/2025 | (7582) |  | (7582) |
| 24193 | 470766 | Chemours Co | OBFR + 45 bps | 12/22/2025 | 196835 |  | 196835 |
| 172023 | 1501 | Churchill Downs Inc | OBFR + 45 bps | 11/26/2025 | (23248) |  | (23248) |
| 203506 | 12689 | Cia De Minas Buenaventura | OBFR + 45 bps | 11/25/2025 | 4116 |  | 4116 |
| 77390 | 752 | Cirrus Logic Inc | OBFR - 35 bps | 12/22/2025 | (1255) |  | (1255) |
| 94761 | 4019 | Clear Secure Inc | OBFR - 35 bps | 12/22/2025 | 17306 |  | 17306 |
| 5323 | 133612 | Clearfield Inc | OBFR + 45 bps | 11/21/2025 | (96266) |  | (96266) |
| 11619 | 315384 | Clearwater Paper Corp | OBFR + 45 bps | 12/22/2025 | 5615 |  | 5615 |
| 137726 | 1006 | Clorox Company | OBFR + 45 bps | 11/21/2025 | (17222) |  | (17222) |
| 96990 | 870 | Coca-Cola Consolidated | OBFR + 45 bps | 11/25/2025 | (202) |  | (202) |
| 214953 | 39595 | Coeur Mining Inc | OBFR + 45 bps | 11/25/2025 | 134073 |  | 134073 |
| 308200 | 3293 | Colgate-Palmolive Co | OBFR + 45 bps | 12/22/2025 | (14124) |  | (14124) |
| 88726 | 5751 | Colony Bankcorp | OBFR - 35 bps | 11/25/2025 | 5674 |  | 5674 |
| 131490 | 2045 | Commerce Bancshares | OBFR + 45 bps | 11/26/2025 | (5402) |  | (5402) |
| 9117 | 182569 | Comstock Resources Inc | OBFR + 45 bps | 12/22/2025 | (68693) |  | (68693) |
| 150455 | 5956 | Consolidated Water Co | OBFR - 35 bps | 11/21/2025 | 26089 |  | 26089 |
| 127957 | 1794 | Cooper Cos Inc/The | OBFR - 35 bps | 12/22/2025 | (1702) |  | (1702) |
| 2645 | 174922 | Core Natural Resources | OBFR + 45 bps | 11/25/2025 | (9021) |  | (9021) |
| 25835 | 304073 | Core Scientific Inc | OBFR - 35 bps | 11/25/2025 | (136025) |  | (136025) |
| 113016 | 11509 | Costamare Inc | OBFR - 35 bps | 12/22/2025 | (24492) |  | (24492) |
| 4864 | 156001 | Crinetics Pharmaceuticals | OBFR -35 bps | 11/26/2025 | 18258 |  | 18258 |
| 1449 | 144529 | Crown Castle Inc | OBFR - 35 bps | 11/25/2025 | (5435) |  | (5435) |
| 11661 | 197777 | Cto Realty Growth Inc | OBFR + 45 bps | 11/21/2025 | (6221) |  | (6221) |
| 16299 | 374971 | Curbline Properties | OBFR + 45 bps | 12/22/2025 | 4748 |  | 4748 |
| 68598 | 219 | Curtiss-Wright Corp | OBFR + 45 bps | 12/22/2025 | 37342 |  | 37342 |
| 176835 | 1187 | Davita Inc | OBFR - 35 bps | 12/22/2025 | (10712) |  | (10712) |
| 252238 | 23481 | Dht Holdings Inc | OBFR - 35 bps | 12/22/2025 | 3119 |  | 3119 |
| 31128 | 254768 | Diamondrock Hospital | OBFR + 45 bps | 11/26/2025 | 14923 |  | 14923 |
| 4620 | 228464 | Disc Medicine Inc | OBFR + 45 bps | 12/22/2025 | (12252) |  | (12252) |
| 216703 | 10095 | Dorian Lpg Ltd | OBFR - 63 bps | 12/22/2025 | 32746 |  | 32746 |
| 168952 | 2961 | Doximity Inc-Class A | OBFR + 45 bps | 11/25/2025 | 11522 |  | 11522 |
| 9502 | 237778 | Dream Finders Homes | OBFR + 45 bps | 11/26/2025 | 2194 |  | 2194 |
| 76720 | 2862 | Dropbox Inc-Class A | OBFR + 45 bps | 11/26/2025 | 3856 |  | 3856 |
| 206309 | 1919 | Dt Midstream Inc | OBFR + 45 bps | 12/22/2025 | 3186 |  | 3186 |
| 329123 | 2866 | Duke Energy Corp | OBFR + 45 bps | 12/22/2025 | 5366 |  | 5366 |
| 162538 | 14038 | Dynex Capital Inc | OBFR - 35 bps | 12/22/2025 | 14385 |  | 14385 |
| 80866 | 1192 | Ebay Inc | OBFR + 45 bps | 12/22/2025 | 7049 |  | 7049 |
| 11758 | 88852 | Ecovyst Inc | OBFR + 45 bps | 11/25/2025 | (7653) |  | (7653) |
| 107454 | 1632 | Edison International | OBFR + 45 bps | 11/21/2025 | (24248) |  | (24248) |
| 143992 | 12398 | Embecta Corp | OBFR - 35 bps | 11/21/2025 | (23471) |  | (23471) |
| 82469 | 183 | Emcor Group Inc | OBFR + 45 bps | 11/21/2025 | 13736 |  | 13736 |
| 4774 | 225429 | Eqt Corp | OBFR + 45 bps | 12/22/2025 | (49918) |  | (49918) |
| 88457 | 2327 | Essential Utilities | OBFR + 45 bps | 12/22/2025 | (2731) |  | (2731) |

---

---

| |
|:---|
| **NAA OPPORTUNITY FUND** |
| **SCHEDULE OF TOTAL RETURN SWAPS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** |
| **Notional Amount at <br> June 30, 2025** | **Number of <br> Shares** | **Reference Obligation#** | **Floating Rate to <br> Pay** | **Maturity Date^** | **Fair Value** | **Upfront <br> payments/<br> receipts** | **Unrealized <br> Appreciation/ <br> (Depreciation)** |
| $123893 | 2485 | Estee Lauder Companies | OBFR + 45 bps | 11/21/2025 | $76372 | $— | $76372 |
| 177687 | 2764 | Evergy Inc | OBFR + 45 bps | 12/22/2025 | 11364 |  | 11364 |
| 153495 | 5141 | Excelerate Energy Inc | OBFR - 35 bps | 11/25/2025 | (3312) |  | (3312) |
| 186128 | 5397 | Exelixis Inc | OBFR + 45 bps | 12/22/2025 | 47301 |  | 47301 |
| 2975 | 298564 | Expand Energy Corp | OBFR + 45 bps | 12/22/2025 | (48392) |  | (48392) |
| 128629 | 704 | Expedia Group Inc | OBFR + 45 bps | 11/21/2025 | (12253) |  | (12253) |
| 60166 | 242 | F5 Inc | OBFR - 35 bps | 12/22/2025 | 9384 |  | 9384 |
| 175124 | 1054 | Federal Agric Mtg Co | OBFR + 45 bps | 11/21/2025 | 29281 |  | 29281 |
| 13271 | 237008 | First Advantage Corp | OBFR + 45 bps | 11/25/2025 | 17285 |  | 17285 |
| 193917 | 4004 | First Business Finance | OBFR + 45 bps | 11/25/2025 | 8231 |  | 8231 |
| 92420 | 2636 | Fluor Corp | OBFR + 45 bps | 11/26/2025 | 41300 |  | 41300 |
| 395205 | 3846 | Fortinet Inc | OBFR - 53 bps | 11/25/2025 | 9978 |  | 9978 |
| 137105 | 2195 | Fortune Brands Innovations | OBFR + 45 bps | 12/22/2025 | (25657) |  | (25657) |
| 6192 | 102073 | Forward Air Corp | OBFR + 45 bps | 11/25/2025 | (49272) |  | (49272) |
| 289769 | 7577 | Freeport-Mcmoran Inc | OBFR + 45 bps | 12/22/2025 | 37018 |  | 37018 |
| 192594 | 2634 | Freshpet Inc | OBFR + 45 bps | 11/25/2025 | (15133) |  | (15133) |
| 98746 | 200 | Gartner Inc | OBFR + 45 bps | 11/21/2025 | (20154) |  | (20154) |
| 160038 | 5907 | Gen Digital Inc | OBFR + 45 bps | 12/22/2025 | 11466 |  | 11466 |
| 93162 | 681 | Generac Holdings Inc | OBFR + 45 bps | 11/26/2025 | 2853 |  | 2853 |
| 192118 | 12997 | Genie Energy Ltd-B | OBFR + 45 bps | 11/21/2025 | 156286 |  | 156286 |
| 201179 | 1803 | Gilead Sciences Inc | OBFR + 45 bps | 11/26/2025 | (3187) |  | (3187) |
| 108510 | 590 | Godaddy Inc | OBFR + 45 bps | 12/22/2025 | (4788) |  | (4788) |
| 113579 | 1095 | Goosehead Insurance | OBFR - 35 bps | 11/21/2025 | 706 |  | 706 |
| 192321 | 1073 | Grand Canyon Education | OBFR + 45 bps | 11/26/2025 | 8281 |  | 8281 |
| 4312 | 259958 | Greif Inc-Cl A | OBFR - 35 bps | 12/22/2025 | (21290) |  | (21290) |
| 141967 | 6352 | Grindr Inc | OBFR - 35 bps | 11/25/2025 | 1087 |  | 1087 |
| 3784 | 120135 | Gxo Logistics Inc | OBFR + 45 bps | 11/21/2025 | (63062) |  | (63062) |
| 5080 | 281799 | H.B. Fuller Co. | OBFR - 35 bps | 11/26/2025 | (21341) |  | (21341) |
| 11559 | 142374 | Hallador Energy Co | OBFR - 35 bps | 12/22/2025 | (37484) |  | (37484) |
| 191576 | 2915 | Hasbro Inc | OBFR + 45 bps | 11/25/2025 | 22921 |  | 22921 |
| 30778 | 452072 | Healthcare Realty Trust | OBFR + 45 bps | 12/22/2025 | (38021) |  | (38021) |
| 172975 | 2133 | Healthequity Inc | OBFR - -35 bps | 11/21/2025 | 48798 |  | 48798 |
| 187940 | 5903 | Healthstream Inc | OBFR - 35 bps | 12/22/2025 | (26233) |  | (26233) |
| 7531 | 147437 | Helmerich & Payne | OBFR + 45 bps | 11/25/2025 | 32372 |  | 32372 |
| 131782 | 829 | Hershey Co/The | OBFR - 53 bps | 11/21/2025 | 5476 |  | 5476 |
| 12921 | 423718 | Hub Group Inc-Cl A | OBFR - 35 bps | 11/21/2025 | (7416) |  | (7416) |
| 125733 | 537 | Humana Inc | OBFR + 45 bps | 11/25/2025 | 5577 |  | 5577 |
| 8694 | 118015 | Hut 8 Corp | OBFR + 45 bps | 11/25/2025 | (42958) |  | (42958) |
| 9911 | 246012 | Ideaya Biosciences Inc | OBFR + 45 bps | 12/22/2025 | 42690 |  | 42690 |
| 269609 | 5345 | Idt Corp-Class B | OBFR - 35 bps | 12/22/2025 | 90399 |  | 90399 |
| 161272 | 28429 | Ihs Holding Ltd | OBFR - 35 bps | 11/25/2025 | (3785) |  | (3785) |
| 173237 | 655 | Illinois Tool Works | OBFR + 45 bps | 12/22/2025 | (12162) |  | (12162) |
| 19052 | 188188 | Immunome Inc | OBFR - 35 bps | 11/21/2025 | 14147 |  | 14147 |
| 6317 | 272480 | Ingevity Corp | OBFR + 45 bps | 12/22/2025 | 6251 |  | 6251 |
| 175319 | 3680 | Interactive Brokers | OBFR - 35 bps | 11/21/2025 | 25084 |  | 25084 |
| 4432 | 198254 | International Paper | OBFR - 35 bps | 11/21/2025 | (9528) |  | (9528) |
| 277203 | 2623 | Interparfums Inc | OBFR + 45 bps | 11/21/2025 | 66778 |  | 66778 |
| 3656 | 298358 | Intl Flavors & Fragrances | OBFR + 45 bps | 11/21/2025 | 32227 |  | 32227 |
| 1995 | 75666 | Intrepid Potash Inc | OBFR - 35 bps | 11/25/2025 | 4611 |  | 4611 |
| 167637 | 20609 | Invesco Mortgage Capital | OBFR + 45 bps | 12/22/2025 | 3752 |  | 3752 |
| 340467 | 10888 | Iridium Communications | OBFR - 53 bps | 11/26/2025 | (14505) |  | (14505) |
| 5067 | 413644 | Iron Mountain Inc | OBFR - 35 bps | 11/21/2025 | (106916) |  | (106916) |

---

---

| |
|:---|
| **NAA OPPORTUNITY FUND** |
| **SCHEDULE OF TOTAL RETURN SWAPS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** |
| **Notional Amount at <br> June 30, 2025** | **Number of <br> Shares** | **Reference Obligation#** | **Floating Rate to <br> Pay** | **Maturity Date^** | **Fair Value** | **Upfront <br> payments/<br> receipts** | **Unrealized <br> Appreciation/ <br> (Depreciation)** |
| $102269 | 1203 | Jackson Financial Inc | OBFR - 35 bps | 11/26/2025 | $4779 | $— | $4779 |
| 11049 | 159799 | Jbg Smith Properties | OBFR - 35 bps | 11/21/2025 | (29962) |  | (29962) |
| 16444 | 221981 | Kalvista Pharmaceuticals | OBFR - 35 bps | 11/25/2025 | 36746 |  | 36746 |
| 28994 | 304946 | Kennedy-Wilson Holdings | OBFR - 35 bps | 12/22/2025 | 105494 |  | 105494 |
| 27381 | 326064 | Kindercare Learning | OBFR + 45 bps | 11/25/2025 | 50498 |  | 50498 |
| 1221 | 116004 | Knife River Corp | OBFR + 45 bps | 11/21/2025 | 16670 |  | 16670 |
| 159740 | 2139 | Kontoor Brands Inc | OBFR + 45 bps | 11/21/2025 | (19422) |  | (19422) |
| 75225 | 1780 | Lendingtree Inc | OBFR + 45 bps | 12/22/2025 | (11190) |  | (11190) |
| 135407 | 225 | Lennox International Inc | OBFR - 35 bps | 11/26/2025 | (7994) |  | (7994) |
| 353337 | 29725 | Liberty Global Ltd-A | OBFR + 45 bps | 12/22/2025 | (62923) |  | (62923) |
| 3909 | 270305 | Liberty Media Corp-L | OBFR - 58 bps | 12/22/2025 | (41762) |  | (41762) |
| 154887 | 23617 | Lifestance Health Group | OBFR - 35 bps | 11/25/2025 | (34007) |  | (34007) |
| 8620 | 479807 | Lineage Inc | OBFR - 35 bps | 11/21/2025 | 103268 |  | 103268 |
| 23196 | 302194 | Liquidia Corp | OBFR - 35 bps | 11/21/2025 | 18468 |  | 18468 |
| 25497 | 201243 | Lsb Industries Inc | OBFR - 35 bps | 12/22/2025 | 6607 |  | 6607 |
| 4835 | 263522 | Lyondellbasell Industries | OBFR - 35 bps | 11/21/2025 | (17967) |  | (17967) |
| 12475 | 236567 | Macerich Co | OBFR - 35 bps | 12/22/2025 | 36149 |  | 36149 |
| 2126 | 200269 | Makemytrip Ltd | OBFR + 45 bps | 11/26/2025 | (5505) |  | (5505) |
| 119232 | 637 | Manhattan Associates | OBFR + 45 bps | 11/25/2025 | 6128 |  | 6128 |
| 190444 | 4125 | Maplebear Inc | OBFR - 35 bps | 11/25/2025 | (4510) |  | (4510) |
| 10004 | 219297 | Marcus Corporation | OBFR - 35 bps | 12/22/2025 | 53904 |  | 53904 |
| 62 | 113315 | Markel Group Inc | OBFR - 35 bps | 11/25/2025 | (9773) |  | (9773) |
| 1012 | 234844 | Marriott International | OBFR - 35 bps | 11/21/2025 | (40556) |  | (40556) |
| 14221 | 180237 | Marten Transport Ltd | OBFR + 45 bps | 11/25/2025 | (3302) |  | (3302) |
| 586 | 263764 | Martin Marietta Materials | OBFR + 45 bps | 11/21/2025 | (55996) |  | (55996) |
| 320627 | 4220 | Masco Corp | OBFR - 35 bps | 12/22/2025 | (52906) |  | (52906) |
| 127788 | 1649 | Materion Corp | OBFR + 45 bps | 11/25/2025 | 2634 |  | 2634 |
| 9758 | 175719 | Maui Land & Pineapple | OBFR + 45 bps | 12/22/2025 | 609 |  | 609 |
| 262605 | 2531 | Mcgrath Rentcorp | OBFR + 45 bps | 12/22/2025 | 29384 |  | 29384 |
| 225711 | 2490 | Merck & Co. Inc. | OBFR + 45 bps | 12/22/2025 | (28281) |  | (28281) |
| 171966 | 6419 | Mesabi Trust | OBFR + 45 bps | 11/25/2025 | (18780) |  | (18780) |
| 204429 | 20509 | Mfa Financial Inc | OBFR + 45 bps | 12/22/2025 | 266 |  | 266 |
| 331966 | 10626 | Millicom Intl Cellular | OBFR - 35 bps | 11/21/2025 | 63746 |  | 63746 |
| 5631 | 314143 | Minerals Technologies | OBFR - 35 bps | 11/25/2025 | 5160 |  | 5160 |
| 9031 | 145162 | Mineralys Therapeutics | OBFR + 45 bps | 11/25/2025 | 23409 |  | 23409 |
| 170676 | 340 | Moody'S Corp | OBFR - 35 bps | 11/26/2025 | (2629) |  | (2629) |
| 8860 | 389669 | Moonlake Immunotherapy | OBFR + 45 bps | 11/26/2025 | (25137) |  | (25137) |
| 13413 | 345213 | Mosaic Co | OBFR - 35 bps | 12/22/2025 | (144423) |  | (144423) |
| 272309 | 467 | Msci Inc | OBFR + 45 bps | 11/26/2025 | (6631) |  | (6631) |
| 5489 | 162958 | Nabors Industries Ltd | OBFR + 45 bps | 11/25/2025 | 9640 |  | 9640 |
| 269517 | 4243 | National Fuel Gas Co | OBFR + 45 bps | 12/22/2025 | 88502 |  | 88502 |
| 158709 | 12574 | Navient Corp | OBFR + 45 bps | 11/21/2025 | 19141 |  | 19141 |
| 124518 | 9753 | Navigator Holdings Ltd | OBFR - 35 bps | 12/22/2025 | 12988 |  | 12988 |
| 100672 | 9366 | Nerdwallet Inc-Cl A | OBFR - 35 bps | 11/25/2025 | 1711 |  | 1711 |
| 6239 | 194523 | Net Lease Office Properties | OBFR + 45 bps | 12/22/2025 | (7981) |  | (7981) |
| 16986 | 202172 | Newmark Group Inc | OBFR - 35 bps | 11/21/2025 | (2093) |  | (2093) |
| 384844 | 7571 | Newmont Corp | OBFR + 45 bps | 11/21/2025 | 54584 |  | 54584 |
| 5861 | 197935 | Nexpoint Residential | OBFR + 45 bps | 11/25/2025 | 249 |  | 249 |
| 284541 | 3796 | Nextera Energy Inc | OBFR + 45 bps | 12/22/2025 | (22481) |  | (22481) |
| 77743 | 2103 | Nextracker Inc-Cl A | OBFR + 45 bps | 11/21/2025 | 35715 |  | 35715 |
| 253119 | 6362 | Nisource Inc | OBFR + 45 bps | 12/22/2025 | 1137 |  | 1137 |
| 128879 | 1414 | Northrim Bancorp Inc | OBFR - 35 bps | 11/25/2025 | 3434 |  | 3434 |

---

---

| |
|:---|
| **NAA OPPORTUNITY FUND** |
| **SCHEDULE OF TOTAL RETURN SWAPS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** |
| **Notional Amount at <br> June 30, 2025** | **Number of <br> Shares** | **Reference Obligation#** | **Floating Rate to <br> Pay** | **Maturity Date^** | **Fair Value** | **Upfront <br> payments/<br> receipts** | **Unrealized <br> Appreciation/ <br> (Depreciation)** |
| $196209 | 15983 | Northwest Bancshares | OBFR - 35 bps | 11/25/2025 | $7350 | $— | $7350 |
| 36482 | 261535 | Npk International Inc | OBFR + 45 bps | 11/21/2025 | (44128) |  | (44128) |
| 2919 | 218517 | Nuvalent Inc-A | OBFR - 35 bps | 11/26/2025 | (1227) |  | (1227) |
| 284781 | 2014 | Nvidia Corp | OBFR + 45 bps | 11/25/2025 | 32409 |  | 32409 |
| 17561 | 148292 | Ocular Therapeutix Inc | OBFR - 35 bps | 11/25/2025 | (14232) |  | (14232) |
| 175453 | 4016 | Oge Energy Corp | OBFR + 45 bps | 12/22/2025 | 972 |  | 972 |
| 11892 | 150542 | O-I Glass Inc | OBFR + 45 bps | 12/22/2025 | (21130) |  | (21130) |
| 119782 | 3703 | Olympic Steel Inc | OBFR + 45 bps | 12/22/2025 | (682) |  | (682) |
| 136737 | 21969 | Orchid Island Capital | OBFR - 35 bps | 12/22/2025 | 21030 |  | 21030 |
| 127082 | 8761 | Organon & Co | OBFR + 45 bps | 12/22/2025 | (43399) |  | (43399) |
| 24449 | 384636 | Orion Sa | OBFR + 45 bps | 12/22/2025 | 134439 |  | 134439 |
| 122333 | 1221 | Otis Worldwide Corp | OBFR - 35 bps | 12/22/2025 | (2930) |  | (2930) |
| 242174 | 3203 | Otter Tail Corp | OBFR - 35 bps | 12/22/2025 | 2315 |  | 2315 |
| 202629 | 10652 | P G & E Corp | OBFR + 45 bps | 11/21/2025 | (58184) |  | (58184) |
| 1992 | 190329 | Pennymac Financial Services | OBFR + 45 bps | 11/25/2025 | (7586) |  | (7586) |
| 952 | 133021 | Penske Automotive Group | OBFR + 45 bps | 11/21/2025 | (30531) |  | (30531) |
| 123549 | 1327 | Pentair Plc | OBFR + 45 bps | 12/22/2025 | 10980 |  | 10980 |
| 96202 | 791 | Philip Morris International | OBFR + 45 bps | 12/22/2025 | 47741 |  | 47741 |
| 150375 | 3058 | Pilgrim'S Pride Corp | OBFR - 35 bps | 11/21/2025 | (13363) |  | (13363) |
| 167784 | 19056 | Pitney Bowes Inc | OBFR + 45 bps | 11/25/2025 | 40099 |  | 40099 |
| 8343 | 104760 | Postal Realty Trust | OBFR + 45 bps | 11/26/2025 | (18737) |  | (18737) |
| 248712 | 13534 | Premier Inc-Class A | OBFR + 45 bps | 12/22/2025 | 49580 |  | 49580 |
| 167029 | 4572 | Prog Holdings Inc | OBFR + 45 bps | 12/22/2025 | (34939) |  | (34939) |
| 155455 | 821 | Ptc Inc | OBFR + 45 bps | 12/22/2025 | (18110) |  | (18110) |
| 87085 | 1132 | Pvh Corp | OBFR + 45 bps | 11/26/2025 | (10781) |  | (10781) |
| 82324 | 1102 | Qcr Holdings Inc | OBFR + 45 bps | 11/26/2025 | (8680) |  | (8680) |
| 98728 | 664 | Qualcomm Inc | OBFR - 35 bps | 11/21/2025 | 7257 |  | 7257 |
| 126282 | 473 | Ralph Lauren Corp | OBFR + 45 bps | 12/22/2025 | 2209 |  | 2209 |
| 6220 | 198294 | Range Resources Corp | OBFR + 45 bps | 11/21/2025 | (52874) |  | (52874) |
| 205450 | 4724 | Red Rock Resorts Inc | OBFR - 35 bps | 11/21/2025 | 43341 |  | 43341 |
| 199128 | 8434 | Regions Financial Co | OBFR - 35 bps | 11/21/2025 | 94 |  | 94 |
| 6418 | 260165 | Revolution Medicines | OBFR - 35 bps | 12/22/2025 | 24819 |  | 24819 |
| 15965 | 169393 | Riot Platforms Inc | OBFR - 35 bps | 12/22/2025 | (7626) |  | (7626) |
| 14768 | 260376 | Rmr Group Inc | OBFR + 45 bps | 11/26/2025 | 15696 |  | 15696 |
| 28756 | 322766 | Roivant Sciences Ltd | OBFR + 45 bps | 11/25/2025 | (351) |  | (351) |
| 107159 | 452 | Royal Caribbean Cruises | OBFR - 35 bps | 11/26/2025 | 33284 |  | 33284 |
| 90823 | 582 | Royal Gold Inc | OBFR + 45 bps | 12/22/2025 | 11676 |  | 11676 |
| 11246 | 147964 | Rxo Inc | OBFR + 45 bps | 11/21/2025 | (27551) |  | (27551) |
| 115285 | 5429 | Ryerson Holding Corp | OBFR - 35 bps | 11/21/2025 | 1820 |  | 1820 |
| 146984 | 276 | S&P Global Inc | OBFR + 45 bps | 11/26/2025 | (3348) |  | (3348) |
| 8715 | 216558 | Sable Offshore Corp | OBFR - 58 bps | 11/26/2025 | 27437 |  | 27437 |
| 140649 | 3643 | Scorpio Tankers Inc | OBFR - 35 bps | 12/22/2025 | 2123 |  | 2123 |
| 16738 | 403743 | Seaport Entertainment | OBFR - 35 bps | 11/21/2025 | 97951 |  | 97951 |
| 34424 | 285287 | Select Water Solutions | OBFR + 45 bps | 11/21/2025 | (12041) |  | (12041) |
| 5196 | 237276 | Silgan Holdings Inc | OBFR - 35 bps | 11/21/2025 | (43125) |  | (43125) |
| 138817 | 4212 | Simply Good Foods Co | OBFR - 35 bps | 11/21/2025 | (7291) |  | (7291) |
| 5696 | 393240 | Sl Green Realty Corp | OBFR + 45 bps | 12/22/2025 | 39779 |  | 39779 |
| 10826 | 594596 | Smurfit Westrock Plc | OBFR - 35 bps | 12/22/2025 | 132174 |  | 132174 |
| 121844 | 359 | Snap-On Inc | OBFR - 35 bps | 12/22/2025 | (11357) |  | (11357) |
| 5617 | 128445 | Solaris Energy Infrastructure | OBFR - 35 bps | 12/22/2025 | (30294) |  | (30294) |
| 3100 | 144391 | Soleno Therapeutics | OBFR + 45 bps | 11/26/2025 | (113587) |  | (113587) |

---

---

| |
|:---|
| **NAA OPPORTUNITY FUND** |
| **SCHEDULE OF TOTAL RETURN SWAPS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** | **TOTAL RETURN SWAPS** |
| **Notional Amount at <br> June 30, 2025** | **Number of <br> Shares** | **Reference Obligation#** | **Floating Rate to <br> Pay** | **Maturity Date^** | **Fair Value** | **Upfront <br> payments/<br> receipts** | **Unrealized <br> Appreciation/ <br> (Depreciation)** |
| $367948 | 9056 | Sonoco Products Co | OBFR + 45 bps | 11/21/2025 | $(27969) | $— | $(27969) |
| 3729 | 328660 | Southern Co | OBFR + 45 bps | 12/22/2025 | 9551 |  | 9551 |
| 150302 | 7480 | Spartannash Co | OBFR - 35 bps | 11/26/2025 | (49054) |  | (49054) |
| 16733 | 280887 | Spok Holdings Inc | OBFR - 35 bps | 12/22/2025 | 20620 |  | 20620 |
| 10980 | 220179 | Starwood Property Trust | OBFR - 35 bps | 12/22/2025 | 7108 |  | 7108 |
| 398884 | 4671 | State Street Corp | OBFR - 35 bps | 11/21/2025 | (94958) |  | (94958) |
| 295230 | 4056 | Stepan Co | OBFR + 45 bps | 12/22/2025 | 80755 |  | 80755 |
| 99388 | 4768 | Structure Therapeutics | OBFR - 35 bps | 11/26/2025 | 1854 |  | 1854 |
| 168344 | 16419 | Sunrun Inc | OBFR + 45 bps | 11/21/2025 | 37237 |  | 37237 |
| 4682 | 138366 | Symbotic Inc | OBFR - 35 bps | 11/25/2025 | 43031 |  | 43031 |
| 488062 | 2510 | Take-Two Interactive | OBFR - 35 bps | 12/22/2025 | (116534) |  | (116534) |
| 1128 | 186068 | Targa Resources Corp | OBFR + 45 bps | 12/22/2025 | 9645 |  | 9645 |
| 384842 | 2611 | Te Connectivity Plc | OBFR - 35 bps | 11/25/2025 | (54874) |  | (54874) |
| 617933 | 40192 | Tejon Ranch Co | OBFR + 45 bps | 12/22/2025 | (57638) |  | (57638) |
| 8570 | 312161 | Telephone And Data Systems | OBFR - 35 bps | 12/22/2025 | (11689) |  | (11689) |
| 1006 | 255355 | T-Mobile Us Inc | OBFR + 45 bps | 12/22/2025 | (19125) |  | (19125) |
| 6013 | 195204 | Tootsie Roll Industries | OBFR + 45 bps | 11/25/2025 | 4911 |  | 4911 |
| 4422 | 352530 | Toro Co | OBFR + 45 bps | 11/26/2025 | (42113) |  | (42113) |
| 190335 | 10379 | Tourmaline Bio Inc | OBFR - 35 bps | 11/25/2025 | 24943 |  | 24943 |
| 10635 | 92691 | Tpg Re Finance Trust | OBFR + 45 bps | 12/22/2025 | (6113) |  | (6113) |
| 631 | 218061 | Trane Technologies PLC | OBFR + 45 bps | 12/22/2025 | 55503 |  | 55503 |
| 89 | 118096 | Transdigm Group Inc | OBFR + 45 bps | 12/22/2025 | 15286 |  | 15286 |
| 441116 | 22203 | Trimas Corp | OBFR - 35 bps | 11/21/2025 | (191031) |  | (191031) |
| 7066 | 183499 | Trubridge Inc | OBFR + 45 bps | 11/25/2025 | (19401) |  | (19401) |
| 362 | 124364 | Ubiquiti Inc | OBFR + 45 bps | 11/21/2025 | 23108 |  | 23108 |
| 2429 | 233148 | United Airlines Holdings | OBFR + 45 bps | 11/21/2025 | (43839) |  | (43839) |
| 325242 | 70939 | Uranium Energy Corp | OBFR - 35 bps | 12/22/2025 | (153235) |  | (153235) |
| 3654 | 90163 | Usana Health Science | OBFR + 45 bps | 11/21/2025 | 20440 |  | 20440 |
| 5704 | 255243 | V2X Inc | OBFR + 45 bps | 11/25/2025 | 20771 |  | 20771 |
| 428 | 133670 | Valmont Industries | OBFR + 45 bps | 11/21/2025 | 3743 |  | 3743 |
| 97374 | 5118 | Vera Therapeutics Inc. | OBFR - 35 bps | 11/26/2025 | (22325) |  | (22325) |
| 473649 | 29020 | Veris Residential Inc | OBFR - 35 bps | 12/22/2025 | 45011 |  | 45011 |
| 7622 | 325221 | Verizon Communications | OBFR + 45 bps | 12/22/2025 | 5254 |  | 5254 |
| 168233 | 3161 | Verona Pharma Plc | OBFR - 35 bps | 11/26/2025 | (129205) |  | (129205) |
| 214186 | 17093 | Viridian Therapeutic | OBFR - 35 bps | 11/21/2025 | (22423) |  | (22423) |
| 1340 | 235868 | Vistra Corp | OBFR + 45 bps | 11/21/2025 | 23293 |  | 23293 |
| 843 | 189512 | Wd-40 Co | OBFR + 45 bps | 11/21/2025 | 1341 |  | 1341 |
| 885 | 93962 | Wec Energy Group Inc | OBFR + 45 bps | 12/22/2025 | (2506) |  | (2506) |
| 405733 | 2832 | Welltower Inc | OBFR - 35 bps | 12/22/2025 | (26983) |  | (26983) |
| 495023 | 4804 | Westlake Corp | OBFR - 35 bps | 12/22/2025 | 134045 |  | 134045 |
| 179822 | 7160 | Weyerhaeuser Co | OBFR - 35 bps | 12/22/2025 | (3958) |  | (3958) |
| 649 | 122477 | Wix.Com Ltd | OBFR + 45 bps | 11/26/2025 | (21384) |  | (21384) |
| 6515 | 180135 | World Kinect Corp | OBFR + 45 bps | 12/22/2025 | 5241 |  | 5241 |
| 225696 | 20209 | Xenia Hotels & Resorts | OBFR - 35 bps | 11/26/2025 | (29887) |  | (29887) |
| 6180 | 212426 | York Water Co | OBFR + 45 bps | 12/22/2025 | (17749) |  | (17749) |
|  |  |  |  |  | $75804 | $— | $75804 |

---

# The counterparty for all swap contracts is Morgan Stanley. <br>^ Pays at maturity date.

---

| |
|:---|
| LTD - Limited Company |
| PLC - Public Limited Company |
| REIT - Real Estate Investment Trust |
| OBFR - Overnight Bank Funding Rate. The OBFR was 4.33% on June 30, 2025. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** New Age Alpha Funds Trust

- **b. Investment Company Act file number:** 811-23945

- **c. CIK number of Registrant:** 0002013853

- **d. LEI of Registrant:** 529900860B9CQ8SDNS27

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

  - **Street Address 1:** 555 Theodore Fremd Avenue

  - **City:** Rye

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10580

  - **Telephone number:** 212-922-2699

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

- **a. Name of Series:** NAA OPPORTUNITY FUND

- **b. EDGAR series identifier (if any):** S000087629

- **c. LEI of Series:** 5299000F9S0KMZ0MP555

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $100636118.61

**Total Liabilities:** $64100372.84

**Net Assets:** $36535745.77

**Cash Not Reported:** $472.95

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000253485 | -7.81%               | 2.52%                | 0.25%                |
| Class ID C000253487 | -7.75%               | 2.61%                | 0.36%                |
| Class ID C000253488 | -7.77%               | 2.58%                | 0.36%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1403280.42             | $434602.10                                 |
| Month 2  | $-88372.86               | $833101.13                                 |
| Month 3  | $-12904.00               | $433716.58                                 |

**Designated Index Information**

- **Index Name:** NAA Opportunity Fd DRP

- **Index Identifier:** NAA OPPORTUNITY FD DRP

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Air Lease Corporation                     | Air Lease Corporation                       | CUSIP: 00912X302<br>LEI: 5493004NW4M4P8TMMK63 | Long             | EC               | CORP              | US        |      2400 | NS      | $140376.00    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Grand Canyon Education Inc                | Grand Canyon Education, Inc.                | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |       285 | NS      | $53865.00     | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| MFA Financial Inc.                        | MFA Financial, Inc.                         | CUSIP: 55272X607<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EC               | CORP              | US        |     13673 | NS      | $129346.58    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| KNIFE RIVER CORP                          | KNIFE RIVER CORP - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -1221 | NS      | $16670.37     | 0.05%             |  |  |  | No            | N/A                | On Loan: No      |
| Exelixis, Inc.                            | Exelixis, Inc.                              | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |      1841 | NS      | $81142.08     | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| UBIQUITI INC                              | UBIQUITI INC - TRS                          | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       362 | NS      | $22913.88     | 0.06%             |  |  |  | No            | N/A                | On Loan: No      |
| S&P Global Inc                            | S&P Global, Inc.                            | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |       245 | NS      | $129186.05    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| LSB INDUSTRIES INC                        | LSB INDUSTRIES INC - TRS                    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -25497 | NS      | $6606.99      | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| CENTESSA PHARMACEUTI                      | CENTESSA PHARMACEUTI - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -16627 | NS      | $3903.83      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Royal Caribbean Group                     | Royal Caribbean Group                       | CUSIP: V7780T103<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | US        |       301 | NS      | $94255.14     | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| IDT Corp                                  | IDT Corporation Class B                     | CUSIP: 448947507<br>LEI: 549300JNTN7ZMJDFCL56 | Long             | EC               | CORP              | US        |      1262 | NS      | $86219.84     | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Interactive Brokers Group Inc             | Interactive Brokers Group, Inc. Class A     | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |      2452 | NS      | $135865.32    | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| ROIVANT SCIENCES LTD                      | ROIVANT SCIENCES LTD - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -28756 | NS      | $-351.32      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| CBIZ INC                                  | CBIZ INC - TRS                              | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -3828 | NS      | $36857.49     | 0.10%             |  |  |  | No            | N/A                | On Loan: No      |
| Certara Inc                               | CERTARA, INC.                               | CUSIP: 15687V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5387 | NS      | $63027.90     | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| COLGATE-PALMOLIVE CO                      | COLGATE-PALMOLIVE CO - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      3293 | NS      | $-17293.20    | -0.05%            |  |  |  | No            | N/A                | On Loan: No      |
| RED ROCK RESORTS INC                      | RED ROCK RESORTS INC - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      4724 | NS      | $36669.37     | 0.10%             |  |  |  | No            | N/A                | On Loan: No      |
| NUVALENT INC-A                            | NUVALENT INC-A - TRS                        | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -2919 | NS      | $-1226.54     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| PITNEY BOWES INC                          | PITNEY BOWES INC - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     19056 | NS      | $38765.24     | 0.11%             |  |  |  | No            | N/A                | On Loan: No      |
| NEWMONT CORP                              | NEWMONT CORP - TRS                          | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      7571 | NS      | $53779.21     | 0.15%             |  |  |  | No            | N/A                | On Loan: No      |
| MARTEN TRANSPORT LTD                      | MARTEN TRANSPORT LTD - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -14221 | NS      | $-3301.87     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| Snap-On Incorporated                      | Snap-on, Inc.                               | CUSIP: 833034101<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | EC               | CORP              | US        |       492 | NS      | $153100.56    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| 3M CO                                     | 3M CO - TRS                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2095 | NS      | $6897.13      | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Orchid Island Capital Inc.                | Orchid Island Capital, Inc.                 | CUSIP: 68571X301<br>LEI: 549300KBIHGT19K9DY89 | Long             | EC               | CORP              | US        |     14646 | NS      | $102668.46    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| BioCryst Pharmaceuticals  Inc.            | BIOCRYST PHARMACEUTICALS, INC.              | CUSIP: 09058V103<br>LEI: 549300Z0INP1Z5NP6J59 | Long             | EC               | CORP              | US        |      8511 | NS      | $76258.56     | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| INTERPARFUMS INC                          | INTERPARFUMS INC - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2623 | NS      | $64680.00     | 0.18%             |  |  |  | No            | N/A                | On Loan: No      |
| HELMERICH & PAYNE                         | HELMERICH & PAYNE - TRS                     | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -7531 | NS      | $34254.69     | 0.09%             |  |  |  | No            | N/A                | On Loan: No      |
| CURBLINE PROPERTIES                       | CURBLINE PROPERTIES - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -16299 | NS      | $7324.96      | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| LINEAGE INC                               | LINEAGE INC - TRS                           | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -8620 | NS      | $107593.84    | 0.29%             |  |  |  | No            | N/A                | On Loan: No      |
| Telephone and Data Systems Inc.           | Telephone and Data Systems, Inc.            | CUSIP: 879433829<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5368 | NS      | $190993.44    | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| DHT HOLDINGS INC                          | DHT HOLDINGS INC - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     23481 | NS      | $-403.38      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| NEWMARK GROUP INC-CL                      | NEWMARK GROUP INC-CL - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -16986 | NS      | $-1373.24     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Altria Group, Inc.                        | Altria Group, Inc.                          | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |      3931 | NS      | $230474.53    | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| EXPAND ENERGY CORP                        | EXPAND ENERGY CORP - TRS                    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -2975 | NS      | $-46681.40    | -0.13%            |  |  |  | No            | N/A                | On Loan: No      |
| SABLE OFFSHORE CORP                       | SABLE OFFSHORE CORP - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -8715 | NS      | $27437.01     | 0.08%             |  |  |  | No            | N/A                | On Loan: No      |
| IDT CORP-CLASS B                          | IDT CORP-CLASS B - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      5345 | NS      | $89645.35     | 0.25%             |  |  |  | No            | N/A                | On Loan: No      |
| The Cooper Companies, Inc.                | Cooper Companies, Inc. (The)                | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |      1196 | NS      | $85107.36     | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| DAVITA INC                                | DAVITA INC - TRS                            | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1187 | NS      | $-10712.39    | -0.03%            |  |  |  | No            | N/A                | On Loan: No      |
| FORWARD AIR CORP                          | FORWARD AIR CORP - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -6192 | NS      | $-49272.24    | -0.13%            |  |  |  | No            | N/A                | On Loan: No      |
| WELLTOWER INC                             | WELLTOWER INC - TRS                         | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -2832 | NS      | $-25085.68    | -0.07%            |  |  |  | No            | N/A                | On Loan: No      |
| CTO REALTY GROWTH IN                      | CTO REALTY GROWTH IN - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -11661 | NS      | $-1789.70     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| SELECT WATER SOLUTIO                      | SELECT WATER SOLUTIO - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -34424 | NS      | $-10116.01    | -0.03%            |  |  |  | No            | N/A                | On Loan: No      |
| ADT Inc                                   | ADT, Inc.                                   | CUSIP: 00090Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16295 | NS      | $138018.65    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| MasterCard Incorporated                   | Mastercard, Inc. Class A                    | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |       227 | NS      | $127560.38    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Gartner Inc.                              | Gartner, Inc.                               | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |       133 | NS      | $53761.26     | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| ALCOA CORP                                | ALCOA CORP - TRS                            | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      3763 | NS      | $6494.11      | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| REGIONS FINANCIAL CO                      | REGIONS FINANCIAL CO - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      8434 | NS      | $-2014.45     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| MOONLAKE IMMUNOTHERA                      | MOONLAKE IMMUNOTHERA - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -8860 | NS      | $-25136.74    | -0.07%            |  |  |  | No            | N/A                | On Loan: No      |
| WD-40 CO                                  | WD-40 CO - TRS                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       843 | NS      | $1045.97      | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| APPLIED INDUSTRIAL T                      | APPLIED INDUSTRIAL T - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       691 | NS      | $-7787.49     | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| F5 INC                                    | F5 INC - TRS                                | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       242 | NS      | $9383.69      | 0.03%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A                                       | BBH Overnight Sweep                         | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | CORP              | US        |   3266846 | PA      | $3266845.71   | 8.94%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                       | MORGAN STANLEY & COMPANY USD MARGIN ACCOUNT | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | CORP              | US        |    849739 | PA      | $849738.84    | 2.33%             |  |  |  | No            | N/A                | On Loan: No      |
| PILGRIM'S PRIDE CORP                      | PILGRIM'S PRIDE CORP - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      3058 | NS      | $-13362.70    | -0.04%            |  |  |  | No            | N/A                | On Loan: No      |
| GREIF INC-CL A                            | GREIF INC-CL A - TRS                        | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -4312 | NS      | $-19025.67    | -0.05%            |  |  |  | No            | N/A                | On Loan: No      |
| TARGA RESOURCES CORP                      | TARGA RESOURCES CORP - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1128 | NS      | $9645.41      | 0.03%             |  |  |  | No            | N/A                | On Loan: No      |
| Graco Inc                                 | Graco, Inc.                                 | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |      4545 | NS      | $390733.65    | 1.07%             |  |  |  | No            | 1                  | On Loan: No      |
| MATERION CORP                             | MATERION CORP - TRS                         | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1649 | NS      | $2634.04      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| ORION SA                                  | ORION SA - TRS                              | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -24449 | NS      | $135121.40    | 0.37%             |  |  |  | No            | N/A                | On Loan: No      |
| Curtiss-Wright Corp.                      | Curtiss-Wright Corporation                  | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |       146 | NS      | $71328.30     | 0.20%             |  |  |  | No            | 1                  | On Loan: No      |
| CALIFORNIA WATER SER                      | CALIFORNIA WATER SER - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      3376 | NS      | $-3782.82     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| Southern Co.                              | Southern Company                            | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |      2486 | NS      | $228289.38    | 0.62%             |  |  |  | No            | 1                  | On Loan: No      |
| IHS HOLDING LTD                           | IHS HOLDING LTD - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     28429 | NS      | $-3785.38     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| Red Rock Resorts Inc                      | Red Rock Resorts, Inc. Class A              | CUSIP: 75700L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2064 | NS      | $107389.92    | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| TOURMALINE BIO INC                        | TOURMALINE BIO INC - TRS                    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -10379 | NS      | $24943.26     | 0.07%             |  |  |  | No            | N/A                | On Loan: No      |
| COCA-COLA CONSOLIDAT                      | COCA-COLA CONSOLIDAT - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       870 | NS      | $-201.78      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Millicom International Cellular SA        | MILLICOM INTERNATIONAL CELLULAR S.A.        | CUSIP: L6388F110<br>LEI: 549300CTHC1CP86P2G96 | Long             | EC               | CORP              | LU        |      3840 | NS      | $143884.80    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| VALMONT INDUSTRIES                        | VALMONT INDUSTRIES - TRS                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       428 | NS      | $3451.98      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| INVESCO MORTGAGE CAP                      | INVESCO MORTGAGE CAP - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     20609 | NS      | $-10803.53    | -0.03%            |  |  |  | No            | N/A                | On Loan: No      |
| DUKE ENERGY CORP                          | DUKE ENERGY CORP - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2866 | NS      | $-623.82      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| DT MIDSTREAM INC                          | DT MIDSTREAM INC - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1919 | NS      | $286.68       | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| MILLICOM INTL CELLUL                      | MILLICOM INTL CELLUL - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     10626 | NS      | $63746.36     | 0.17%             |  |  |  | No            | N/A                | On Loan: No      |
| Agnc Investment Corp                      | AGNC Investment Corporation                 | CUSIP: 00123Q104<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EC               | CORP              | US        |     11631 | NS      | $106888.89    | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Organon & Co                              | Organon & Co.                               | CUSIP: 68622V106<br>LEI: 549300AMCKY57OK2CO56 | Long             | EC               | CORP              | US        |      5484 | NS      | $53085.12     | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| MAKEMYTRIP LTD                            | MAKEMYTRIP LTD - TRS                        | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -2126 | NS      | $-5504.98     | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| The York Water Co.                        | York Water Company (The)                    | CUSIP: 987184108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1954 | NS      | $61746.40     | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| NiSource Inc.                             | NiSource, Inc.                              | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |      4242 | NS      | $171122.28    | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Churchill Downs Inc                       | Churchill Downs, Inc.                       | CUSIP: 171484108<br>LEI: 529900FODTBQC8MIS994 | Long             | EC               | CORP              | US        |      1001 | NS      | $101101.00    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| PENSKE AUTOMOTIVE GR                      | PENSKE AUTOMOTIVE GR - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |      -952 | NS      | $-29331.84    | -0.08%            |  |  |  | No            | N/A                | On Loan: No      |
| Evergy Inc                                | Evergy, Inc.                                | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |      1843 | NS      | $127037.99    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| EXCELERATE ENERGY IN                      | EXCELERATE ENERGY IN - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      5141 | NS      | $-3312.16     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| ESTEE LAUDER COMPANI                      | ESTEE LAUDER COMPANI - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2485 | NS      | $75502.10     | 0.21%             |  |  |  | No            | N/A                | On Loan: No      |
| APPLOVIN CORP-CLASS                       | APPLOVIN CORP-CLASS - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       331 | NS      | $-17016.19    | -0.05%            |  |  |  | No            | N/A                | On Loan: No      |
| BANCORP INC/THE                           | BANCORP INC/THE - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      4622 | NS      | $56479.53     | 0.15%             |  |  |  | No            | N/A                | On Loan: No      |
| AMERICAN STATES WATE                      | AMERICAN STATES WATE - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2555 | NS      | $2335.20      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| NEXTRACKER INC-CL A                       | NEXTRACKER INC-CL A - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2103 | NS      | $35715.41     | 0.10%             |  |  |  | No            | N/A                | On Loan: No      |
| Booz Allen Hamilton Holding Corp.         | Booz Allen Hamilton Holding Corporation     | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |       471 | NS      | $49045.23     | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| VERIS RESIDENTIAL IN                      | VERIS RESIDENTIAL IN - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -29020 | NS      | $46965.07     | 0.13%             |  |  |  | No            | N/A                | On Loan: No      |
| PREMIER INC-CLASS A                       | PREMIER INC-CLASS A - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     13534 | NS      | $44077.17     | 0.12%             |  |  |  | No            | N/A                | On Loan: No      |
| The Estee Lauder Companies Inc.           | Estee Lauder Companies, Inc. (The) Class A  | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | EC               | CORP              | US        |      1657 | NS      | $133885.60    | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| BANDWIDTH INC-CLASS                       | BANDWIDTH INC-CLASS - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     21155 | NS      | $-20166.09    | -0.06%            |  |  |  | No            | N/A                | On Loan: No      |
| DISC MEDICINE INC                         | DISC MEDICINE INC - TRS                     | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -4620 | NS      | $-12251.94    | -0.03%            |  |  |  | No            | N/A                | On Loan: No      |
| Lennox International Inc.                 | Lennox International, Inc.                  | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |       370 | NS      | $212098.80    | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| GENERAC HOLDINGS INC                      | GENERAC HOLDINGS INC - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       681 | NS      | $2852.94      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| STARWOOD PROPERTY TR                      | STARWOOD PROPERTY TR - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     10980 | NS      | $1837.26      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| IMMUNOME INC                              | IMMUNOME INC - TRS                          | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -19052 | NS      | $14147.44     | 0.04%             |  |  |  | No            | N/A                | On Loan: No      |
| Trane Technologies PLC                    | Trane Technologies plc                      | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |       421 | NS      | $184149.61    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| ALLISON TRANSMISSION                      | ALLISON TRANSMISSION - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1827 | NS      | $-40255.42    | -0.11%            |  |  |  | No            | N/A                | On Loan: No      |
| ESSENTIAL UTILITIES                       | ESSENTIAL UTILITIES - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2327 | NS      | $-3488.64     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| American States Water Co.                 | American States Water Company               | CUSIP: 029899101<br>LEI: 529900L26LIS2V8PWM23 | Long             | EC               | CORP              | US        |      1704 | NS      | $130628.64    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| CIA DE MINAS BUENAVE                      | CIA DE MINAS BUENAVE - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     12689 | NS      | $4115.74      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| California Water Service Group            | California Water Service Group              | CUSIP: 130788102<br>LEI: 529900QABDOBU6UVRQ36 | Long             | EC               | CORP              | US        |      2166 | NS      | $98509.68     | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| CRINETICS PHARMACEUT                      | CRINETICS PHARMACEUT - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -4864 | NS      | $18257.78     | 0.05%             |  |  |  | No            | N/A                | On Loan: No      |
| Navient Corporation                       | Navient Corporation                         | CUSIP: 63938C108<br>LEI: 54930067J0ZNOEBRW338 | Long             | EC               | CORP              | US        |      8383 | NS      | $118200.30    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Consd Water Co                            | Consolodated Water Company, Ltd.            | CUSIP: G23773107<br>LEI: 5299001BMEW8X9VIJA73 | Long             | EC               | CORP              | US        |      2847 | NS      | $85466.94     | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Netflix, Inc.                             | Netflix, Inc.                               | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |        82 | NS      | $109808.66    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| HALLADOR ENERGY CO                        | HALLADOR ENERGY CO - TRS                    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -11559 | NS      | $-37484.14    | -0.10%            |  |  |  | No            | N/A                | On Loan: No      |
| APPFOLIO INC - A                          | APPFOLIO INC - A - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       882 | NS      | $10530.34     | 0.03%             |  |  |  | No            | N/A                | On Loan: No      |
| BIOGEN INC                                | BIOGEN INC - TRS                            | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1697 | NS      | $-47324.11    | -0.13%            |  |  |  | No            | N/A                | On Loan: No      |
| TAKE-TWO INTERACTIVE                      | TAKE-TWO INTERACTIVE - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -2510 | NS      | $-116533.87   | -0.32%            |  |  |  | No            | N/A                | On Loan: No      |
| HEALTHCARE REALTY TR                      | HEALTHCARE REALTY TR - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -30778 | NS      | $-33299.65    | -0.09%            |  |  |  | No            | N/A                | On Loan: No      |
| FORTINET INC                              | FORTINET INC - TRS                          | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      3846 | NS      | $9977.63      | 0.03%             |  |  |  | No            | N/A                | On Loan: No      |
| CLEAR SECURE INC -CL                      | CLEAR SECURE INC -CL - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      4019 | NS      | $15242.90     | 0.04%             |  |  |  | No            | N/A                | On Loan: No      |
| CARLISLE COS INC                          | CARLISLE COS INC - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       563 | NS      | $-45137.57    | -0.12%            |  |  |  | No            | N/A                | On Loan: No      |
| ECOVYST INC                               | ECOVYST INC - TRS                           | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -11758 | NS      | $-7652.64     | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| Dropbox Inc                               | Dropbox, Inc. Class A                       | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |      1908 | NS      | $54568.80     | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| CROWN CASTLE INC                          | CROWN CASTLE INC - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -1449 | NS      | $-3895.45     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| MARCUS CORPORATION                        | MARCUS CORPORATION - TRS                    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -10004 | NS      | $55990.59     | 0.15%             |  |  |  | No            | N/A                | On Loan: No      |
| ANNALY CAPITAL MANAG                      | ANNALY CAPITAL MANAG - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      7250 | NS      | $1614.62      | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| RANGE RESOURCES CORP                      | RANGE RESOURCES CORP - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -6220 | NS      | $-52873.66    | -0.14%            |  |  |  | No            | N/A                | On Loan: No      |
| ADVANSIX INC                              | ADVANSIX INC - TRS                          | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -12606 | NS      | $66483.27     | 0.18%             |  |  |  | No            | N/A                | On Loan: No      |
| CHURCHILL DOWNS INC                       | CHURCHILL DOWNS INC - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1501 | NS      | $-23247.64    | -0.06%            |  |  |  | No            | N/A                | On Loan: No      |
| KONTOOR BRANDS INC                        | KONTOOR BRANDS INC - TRS                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2139 | NS      | $-21247.36    | -0.06%            |  |  |  | No            | N/A                | On Loan: No      |
| SPARTANNASH CO                            | SPARTANNASH CO - TRS                        | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -7480 | NS      | $-45762.53    | -0.13%            |  |  |  | No            | N/A                | On Loan: No      |
| SL GREEN REALTY CORP                      | SL GREEN REALTY CORP - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -5696 | NS      | $47588.76     | 0.13%             |  |  |  | No            | N/A                | On Loan: No      |
| BALL CORP                                 | BALL CORP - TRS                             | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -6608 | NS      | $-19648.99    | -0.05%            |  |  |  | No            | N/A                | On Loan: No      |
| HASBRO INC                                | HASBRO INC - TRS                            | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2915 | NS      | $22920.61     | 0.06%             |  |  |  | No            | N/A                | On Loan: No      |
| Wix.com Limited                           | Wix.com Limited NON PFIC PER PROSPECTUS     | CUSIP: M98068105<br>LEI: 5493008P6N29Q1AG9464 | Long             | EC               | CORP              | US        |       345 | NS      | $54668.70     | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| EDISON INTERNATIONAL                      | EDISON INTERNATIONAL - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1632 | NS      | $-25597.04    | -0.07%            |  |  |  | No            | N/A                | On Loan: No      |
| Masco Corporation                         | Masco Corporation                           | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | EC               | CORP              | US        |      2814 | NS      | $181109.04    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| NET LEASE OFFICE PRO                      | NET LEASE OFFICE PRO - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -6239 | NS      | $-7980.88     | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| Philip Morris International Inc.          | Philip Morris International, Inc.           | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      1486 | NS      | $270645.18    | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| NPK INTERNATIONAL IN                      | NPK INTERNATIONAL IN - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -36482 | NS      | $-44127.88    | -0.12%            |  |  |  | No            | N/A                | On Loan: No      |
| Pepsico Inc                               | PepsiCo, Inc.                               | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      3267 | NS      | $431374.68    | 1.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Ryerson Holding Corporation               | RYERSON HOLDING CORPORATION                 | CUSIP: 783754104<br>LEI: 549300JMA41B3ZHOVE45 | Long             | EC               | CORP              | US        |      2575 | NS      | $55542.75     | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| eBay Inc.                                 | eBay, Inc.                                  | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |       795 | NS      | $59195.70     | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| AMERICAN ELECTRIC PO                      | AMERICAN ELECTRIC PO - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       970 | NS      | $2691.48      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| DROPBOX INC-CLASS A                       | DROPBOX INC-CLASS A - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2862 | NS      | $3855.82      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| CLEARFIELD INC                            | CLEARFIELD INC - TRS                        | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -5323 | NS      | $-96266.42    | -0.26%            |  |  |  | No            | N/A                | On Loan: No      |
| Bandwidth Inc                             | Bandwidth, Inc.                             | CUSIP: 05988J103<br>LEI: 549300QC70JB7MUGXM66 | Long             | EC               | CORP              | US        |     14104 | NS      | $224253.60    | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| CIRRUS LOGIC INC                          | CIRRUS LOGIC INC - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       752 | NS      | $-1255.29     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| The Toro Company                          | Toro Company (The)                          | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | EC               | CORP              | US        |      2468 | NS      | $174438.24    | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| TRIMAS CORP                               | TRIMAS CORP - TRS                           | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -22203 | NS      | $-190143.20   | -0.52%            |  |  |  | No            | N/A                | On Loan: No      |
| Gen Digital Inc                           | Gen Digital, Inc.                           | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               | CORP              | US        |      4470 | NS      | $131418.00    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Generac Holdings Inc.                     | Generac Holdings, Inc.                      | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |       454 | NS      | $65017.34     | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| ADTALEM GLOBAL EDUCA                      | ADTALEM GLOBAL EDUCA - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       818 | NS      | $22140.99     | 0.06%             |  |  |  | No            | N/A                | On Loan: No      |
| HERSHEY CO/THE                            | HERSHEY CO/THE - TRS                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       829 | NS      | $4340.19      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Spok Hldgs Inc                            | Spok Holdings, Inc.                         | CUSIP: 84863T106<br>LEI: 549300HXXANIVN2ICC89 | Long             | EC               | CORP              | US        |     11156 | NS      | $197238.08    | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| PVH Corp.                                 | PVH Corporation                             | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |       755 | NS      | $51793.00     | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Duke Energy Corp                          | Duke Energy Corporation                     | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |      1911 | NS      | $225498.00    | 0.62%             |  |  |  | No            | 1                  | On Loan: No      |
| DREAM FINDERS HOMES                       | DREAM FINDERS HOMES - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -9502 | NS      | $2193.66      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| AT&T INC                                  | AT&T INC - TRS                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      8865 | NS      | $44415.37     | 0.12%             |  |  |  | No            | N/A                | On Loan: No      |
| FEDERAL AGRIC MTG CO                      | FEDERAL AGRIC MTG CO - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1054 | NS      | $27700.00     | 0.08%             |  |  |  | No            | N/A                | On Loan: No      |
| MASCO CORP                                | MASCO CORP - TRS                            | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      4220 | NS      | $-54213.71    | -0.15%            |  |  |  | No            | N/A                | On Loan: No      |
| YORK WATER CO                             | YORK WATER CO - TRS                         | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      6180 | NS      | $-17748.50    | -0.05%            |  |  |  | No            | N/A                | On Loan: No      |
| Interparfums Inc                          | Inter Parfums, Inc.                         | CUSIP: 458334109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       667 | NS      | $87583.77     | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| MARRIOTT INTERNATION                      | MARRIOTT INTERNATION - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -1012 | NS      | $-40139.86    | -0.11%            |  |  |  | No            | N/A                | On Loan: No      |
| Cheniere Energy Inc                       | Cheniere Energy, Inc.                       | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |       863 | NS      | $210157.76    | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Essential Utilities Inc                   | Essential Utilities Inc                     | CUSIP: 29670G102<br>LEI: 549300ILTEOF3E3QY357 | Long             | EC               | CORP              | US        |      1717 | NS      | $63769.38     | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| FIRST BUSINESS FINAN                      | FIRST BUSINESS FINAN - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      4004 | NS      | $8231.13      | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| HEALTHEQUITY INC                          | HEALTHEQUITY INC - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2133 | NS      | $48797.66     | 0.13%             |  |  |  | No            | N/A                | On Loan: No      |
| SEAPORT ENTERTAINMEN                      | SEAPORT ENTERTAINMEN - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -16738 | NS      | $97950.80     | 0.27%             |  |  |  | No            | N/A                | On Loan: No      |
| INGEVITY CORP                             | INGEVITY CORP - TRS                         | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -6317 | NS      | $6250.62      | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| FIRST ADVANTAGE CORP                      | FIRST ADVANTAGE CORP - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -13271 | NS      | $17284.94     | 0.05%             |  |  |  | No            | N/A                | On Loan: No      |
| IDEAYA BIOSCIENCES I                      | IDEAYA BIOSCIENCES I - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -9911 | NS      | $42689.78     | 0.12%             |  |  |  | No            | N/A                | On Loan: No      |
| BIGLARI HOLDINGS INC                      | BIGLARI HOLDINGS INC - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |      -851 | NS      | $-31767.66    | -0.09%            |  |  |  | No            | N/A                | On Loan: No      |
| COSTAMARE INC                             | COSTAMARE INC - TRS                         | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     11509 | NS      | $-8960.16     | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| ARMSTRONG WORLD INDU                      | ARMSTRONG WORLD INDU - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1808 | NS      | $11653.47     | 0.03%             |  |  |  | No            | N/A                | On Loan: No      |
| GODADDY INC - CLASS                       | GODADDY INC - CLASS - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       590 | NS      | $-4788.37     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| NISOURCE INC                              | NISOURCE INC - TRS                          | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      6362 | NS      | $-644.84      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Moodys Corp.                              | Moody's Corporation                         | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |       232 | NS      | $116368.88    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Expedia Group Inc                         | Expedia Group, Inc.                         | CUSIP: 30212P303<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | EC               | CORP              | US        |       469 | NS      | $79110.92     | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| CENTURY ALUMINUM COM                      | CENTURY ALUMINUM COM - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      7885 | NS      | $8542.68      | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Otter Tail Corporation                    | Otter Tail Corporation                      | CUSIP: 689648103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2135 | NS      | $164587.15    | 0.45%             |  |  |  | No            | 1                  | On Loan: No      |
| STATE STREET CORP                         | STATE STREET CORP - TRS                     | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -4671 | NS      | $-94957.96    | -0.26%            |  |  |  | No            | N/A                | On Loan: No      |
| AIR LEASE CORP                            | AIR LEASE CORP - TRS                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      3600 | NS      | $35355.49     | 0.10%             |  |  |  | No            | N/A                | On Loan: No      |
| American Electric Power Co, Inc.          | American Electric Power Company, Inc.       | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |       647 | NS      | $67132.72     | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| RALPH LAUREN CORP                         | RALPH LAUREN CORP - TRS                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       473 | NS      | $1818.74      | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| ANTERO MIDSTREAM COR                      | ANTERO MIDSTREAM COR - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      9614 | NS      | $25913.79     | 0.07%             |  |  |  | No            | N/A                | On Loan: No      |
| ALBEMARLE CORP                            | ALBEMARLE CORP - TRS                        | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -3700 | NS      | $124294.90    | 0.34%             |  |  |  | No            | N/A                | On Loan: No      |
| LIFESTANCE HEALTH GR                      | LIFESTANCE HEALTH GR - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     23617 | NS      | $-34007.30    | -0.09%            |  |  |  | No            | N/A                | On Loan: No      |
| LYONDELLBASELL INDU-                      | LYONDELLBASELL INDU- - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -4835 | NS      | $-14645.65    | -0.04%            |  |  |  | No            | N/A                | On Loan: No      |
| Ameriprise Financial, Inc.                | Ameriprise Financial, Inc.                  | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |       210 | NS      | $112083.30    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Fortune Brands Innovations Inc            | Fortune Brands Innovations, Inc.            | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Long             | EC               | CORP              | US        |      1463 | NS      | $75315.24     | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| COMMERCE BANCSHARES                       | COMMERCE BANCSHARES - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2045 | NS      | $-6526.86     | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| MARTIN MARIETTA MATE                      | MARTIN MARIETTA MATE - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |      -586 | NS      | $-55532.86    | -0.15%            |  |  |  | No            | N/A                | On Loan: No      |
| COLONY BANKCORP                           | COLONY BANKCORP - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      5751 | NS      | $5674.35      | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Royal Gold, Inc.                          | Royal Gold, Inc.                            | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |      1558 | NS      | $277074.72    | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| Goosehead Insurance Inc                   | Goosehead Insurance, Inc.                   | CUSIP: 38267D109<br>LEI: 549300WH5MBIWHJ9XY95 | Long             | EC               | CORP              | US        |       730 | NS      | $77022.30     | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| BRT APARTMENTS CORP                       | BRT APARTMENTS CORP - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -8116 | NS      | $19521.18     | 0.05%             |  |  |  | No            | N/A                | On Loan: No      |
| Healthequity Inc                          | HealthEquity, Inc.                          | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |       804 | NS      | $84227.04     | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| V2X INC                                   | V2X INC - TRS                               | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      5704 | NS      | $20771.18     | 0.06%             |  |  |  | No            | N/A                | On Loan: No      |
| CASTLE BIOSCIENCES I                      | CASTLE BIOSCIENCES I - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      6586 | NS      | $23865.26     | 0.07%             |  |  |  | No            | N/A                | On Loan: No      |
| ATN INTERNATIONAL IN                      | ATN INTERNATIONAL IN - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     11491 | NS      | $-19450.26    | -0.05%            |  |  |  | No            | N/A                | On Loan: No      |
| NAVIENT CORP                              | NAVIENT CORP - TRS                          | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     12574 | NS      | $15776.26     | 0.04%             |  |  |  | No            | N/A                | On Loan: No      |
| MFA FINANCIAL INC                         | MFA FINANCIAL INC - TRS                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     20509 | NS      | $-7500.57     | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| INTREPID POTASH INC                       | INTREPID POTASH INC - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -1995 | NS      | $4610.84      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| APOGEE THERAPEUTICS                       | APOGEE THERAPEUTICS - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -5879 | NS      | $-48276.03    | -0.13%            |  |  |  | No            | N/A                | On Loan: No      |
| CECO ENVIRONMENTAL C                      | CECO ENVIRONMENTAL C - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -6107 | NS      | $16332.22     | 0.04%             |  |  |  | No            | N/A                | On Loan: No      |
| CAL-MAINE FOODS INC                       | CAL-MAINE FOODS INC - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2116 | NS      | $9180.39      | 0.03%             |  |  |  | No            | N/A                | On Loan: No      |
| SOLENO THERAPEUTICS                       | SOLENO THERAPEUTICS - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -3100 | NS      | $-113587.03   | -0.31%            |  |  |  | No            | N/A                | On Loan: No      |
| MACERICH CO/THE                           | MACERICH CO/THE - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -12475 | NS      | $40157.44     | 0.11%             |  |  |  | No            | N/A                | On Loan: No      |
| Applied Industrial Technologies Inc.      | Applied Industrial Technologies, Inc.       | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |       259 | NS      | $60204.55     | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| CELCUITY INC                              | CELCUITY INC - TRS                          | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -17129 | NS      | $-43751.93    | -0.12%            |  |  |  | No            | N/A                | On Loan: No      |
| Gilead Sciences Inc.                      | Gilead Sciences, Inc.                       | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      1202 | NS      | $133265.74    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Kontoor Brands Inc                        | Kontoor Brands, Inc.                        | CUSIP: 50050N103<br>LEI: 549300M0CPXV65RFF271 | Long             | EC               | CORP              | US        |      1426 | NS      | $94073.22     | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Edison International                      | Edison International                        | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |      1511 | NS      | $77967.60     | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Valmont Industries, Inc.                  | Valmont Industries, Inc.                    | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |       286 | NS      | $93399.02     | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| LIQUIDIA CORP                             | LIQUIDIA CORP - TRS                         | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -23196 | NS      | $18468.49     | 0.05%             |  |  |  | No            | N/A                | On Loan: No      |
| MSCI Inc.                                 | MSCI, Inc.                                  | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |       377 | NS      | $217430.98    | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| GEN DIGITAL INC                           | GEN DIGITAL INC - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      5907 | NS      | $10044.20     | 0.03%             |  |  |  | No            | N/A                | On Loan: No      |
| Anterix Inc.                              | Anterix, Inc.                               | CUSIP: 03676C100<br>LEI: 549300QIX2QHFGIEQG40 | Long             | EC               | CORP              | US        |      4238 | NS      | $108704.70    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| ORGANON & CO                              | ORGANON & CO - TRS                          | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      8761 | NS      | $-45760.69    | -0.13%            |  |  |  | No            | N/A                | On Loan: No      |
| MINERALYS THERAPEUTI                      | MINERALYS THERAPEUTI - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -9031 | NS      | $23409.12     | 0.06%             |  |  |  | No            | N/A                | On Loan: No      |
| NAVIGATOR HOLDINGS L                      | NAVIGATOR HOLDINGS L - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      9753 | NS      | $12500.14     | 0.03%             |  |  |  | No            | N/A                | On Loan: No      |
| SONOCO PRODUCTS CO                        | SONOCO PRODUCTS CO - TRS                    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -9056 | NS      | $-23169.34    | -0.06%            |  |  |  | No            | N/A                | On Loan: No      |
| GRINDR INC                                | GRINDR INC - TRS                            | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      6352 | NS      | $1087.22      | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| OCULAR THERAPEUTIX I                      | OCULAR THERAPEUTIX I - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -17561 | NS      | $-14232.13    | -0.04%            |  |  |  | No            | N/A                | On Loan: No      |
| VERONA PHARMA PLC -                       | VERONA PHARMA PLC - - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -3161 | NS      | $-129205.43   | -0.35%            |  |  |  | No            | N/A                | On Loan: No      |
| T-MOBILE US INC                           | T-MOBILE US INC - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1006 | NS      | $-21310.29    | -0.06%            |  |  |  | No            | N/A                | On Loan: No      |
| United States Treasury Bills              | U.S. Treasury Bill 0.000%, Due 7/3/2025     | CUSIP: 912797NX1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9997666.70   | 27.36%            | 2025-07-03      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| RMR GROUP INC/THE -                       | RMR GROUP INC/THE - - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -14768 | NS      | $22341.73     | 0.06%             |  |  |  | No            | N/A                | On Loan: No      |
| TRANSDIGM GROUP INC                       | TRANSDIGM GROUP INC - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |        89 | NS      | $15285.67     | 0.04%             |  |  |  | No            | N/A                | On Loan: No      |
| AerCap Holdings N.V.                      | AerCap Holdings N.V.                        | CUSIP: N00985106<br>LEI: 549300SZYINBBLJQU475 | Long             | EC               | CORP              | IE        |      1459 | NS      | $170703.00    | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| CLOROX COMPANY                            | CLOROX COMPANY - TRS                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1006 | NS      | $-18449.57    | -0.05%            |  |  |  | No            | N/A                | On Loan: No      |
| AMERICAN HEALTHCARE                       | AMERICAN HEALTHCARE - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -9906 | NS      | $-79608.86    | -0.22%            |  |  |  | No            | N/A                | On Loan: No      |
| TEJON RANCH CO                            | TEJON RANCH CO - TRS                        | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -40192 | NS      | $-57638.08    | -0.16%            |  |  |  | No            | N/A                | On Loan: No      |
| MOSAIC CO/THE                             | MOSAIC CO/THE - TRS                         | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -13413 | NS      | $-136477.90   | -0.37%            |  |  |  | No            | N/A                | On Loan: No      |
| Brown-Forman Corp.                        | Brown-Forman Corporation Class B            | CUSIP: 115637209<br>LEI: 549300873K3LXF7ARU34 | Long             | EC               | CORP              | US        |      4548 | NS      | $122386.68    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| HEALTHSTREAM INC                          | HEALTHSTREAM INC - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      5903 | NS      | $-26416.13    | -0.07%            |  |  |  | No            | N/A                | On Loan: No      |
| PTC INC                                   | PTC INC - TRS                               | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       821 | NS      | $-18110.43    | -0.05%            |  |  |  | No            | N/A                | On Loan: No      |
| PROG Holdings Inc.                        | Prog Holdings, Inc.                         | CUSIP: 74319R101<br>LEI: 549300DHYTLBOVRXIG52 | Long             | EC               | CORP              | US        |      1836 | NS      | $53886.60     | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| CENTERSPACE                               | CENTERSPACE - TRS                           | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -3046 | NS      | $-12618.80    | -0.03%            |  |  |  | No            | N/A                | On Loan: No      |
| OTTER TAIL CORP                           | OTTER TAIL CORP - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      3203 | NS      | $-938.87      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| HUMANA INC                                | HUMANA INC - TRS                            | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       537 | NS      | $5576.68      | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| VIRIDIAN THERAPEUTIC                      | VIRIDIAN THERAPEUTIC - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -17093 | NS      | $-22422.54    | -0.06%            |  |  |  | No            | N/A                | On Loan: No      |
| Church & Dwight Co Inc.                   | Church & Dwight Company, Inc.               | CUSIP: 171340102<br>LEI: POOXSI30AWAQGYJZC921 | Long             | EC               | CORP              | US        |      4057 | NS      | $389918.27    | 1.07%             |  |  |  | No            | 1                  | On Loan: No      |
| ROYAL GOLD INC                            | ROYAL GOLD INC - TRS                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       582 | NS      | $11675.78     | 0.03%             |  |  |  | No            | N/A                | On Loan: No      |
| Davita Inc                                | DaVita, Inc.                                | CUSIP: 23918K108<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | EC               | CORP              | US        |       367 | NS      | $52279.15     | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| The Clorox Company                        | Clorox Company (The)                        | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Long             | EC               | CORP              | US        |      2765 | NS      | $331993.55    | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Premier Inc                               | Premier, Inc. Class A                       | CUSIP: 74051N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3917 | NS      | $85899.81     | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Transdigm Group Inc.                      | TransDigm Group, Inc.                       | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        59 | NS      | $89717.76     | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Illinois Tool Works Inc.                  | Illinois Tool Works, Inc.                   | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |       437 | NS      | $108048.25    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| NATIONAL FUEL GAS CO                      | NATIONAL FUEL GAS CO - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      4243 | NS      | $84131.84     | 0.23%             |  |  |  | No            | N/A                | On Loan: No      |
| EMCOR GROUP INC                           | EMCOR GROUP INC - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       183 | NS      | $13657.09     | 0.04%             |  |  |  | No            | N/A                | On Loan: No      |
| INTERNATIONAL PAPER                       | INTERNATIONAL PAPER - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -4432 | NS      | $-7477.72     | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| ALTRIA GROUP INC                          | ALTRIA GROUP INC - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      5896 | NS      | $15955.90     | 0.04%             |  |  |  | No            | N/A                | On Loan: No      |
| EXPEDIA GROUP INC                         | EXPEDIA GROUP INC - TRS                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       704 | NS      | $-12816.40    | -0.04%            |  |  |  | No            | N/A                | On Loan: No      |
| DIAMONDROCK HOSPITAL                      | DIAMONDROCK HOSPITAL - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -31128 | NS      | $17359.68     | 0.05%             |  |  |  | No            | N/A                | On Loan: No      |
| OGE Energy Corporation                    | OGE Energy Corporation                      | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |      3537 | NS      | $156972.06    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| O-I GLASS INC                             | O-I GLASS INC - TRS                         | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -11892 | NS      | $-21130.05    | -0.06%            |  |  |  | No            | N/A                | On Loan: No      |
| RIOT PLATFORMS INC                        | RIOT PLATFORMS INC - TRS                    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -15965 | NS      | $-7626.00     | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| KENNEDY-WILSON HOLDI                      | KENNEDY-WILSON HOLDI - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -28994 | NS      | $111432.67    | 0.30%             |  |  |  | No            | N/A                | On Loan: No      |
| SMURFIT WESTROCK PLC                      | SMURFIT WESTROCK PLC - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -10826 | NS      | $141222.03    | 0.39%             |  |  |  | No            | N/A                | On Loan: No      |
| Allison Transmission Holdings Inc         | Allison Transmission Holdings, Inc.         | CUSIP: 01973R101<br>LEI: 529900RP7DJ882LI9T83 | Long             | EC               | CORP              | US        |      1218 | NS      | $115697.82    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| AES Corp.                                 | AES Corporation                             | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EC               | CORP              | US        |     15373 | NS      | $161723.96    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| BOEING CO/THE                             | BOEING CO/THE - TRS                         | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -1885 | NS      | $-38665.94    | -0.11%            |  |  |  | No            | N/A                | On Loan: No      |
| VERA THERAPEUTICS IN                      | VERA THERAPEUTICS IN - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -5118 | NS      | $-22325.15    | -0.06%            |  |  |  | No            | N/A                | On Loan: No      |
| COMSTOCK RESOURCES I                      | COMSTOCK RESOURCES I - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -9117 | NS      | $-68693.17    | -0.19%            |  |  |  | No            | N/A                | On Loan: No      |
| PROG HOLDINGS INC                         | PROG HOLDINGS INC - TRS                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      4572 | NS      | $-35641.35    | -0.10%            |  |  |  | No            | N/A                | On Loan: No      |
| EMBECTA CORP                              | EMBECTA CORP - TRS                          | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     12398 | NS      | $-25330.46    | -0.07%            |  |  |  | No            | N/A                | On Loan: No      |
| CURTISS-WRIGHT CORP                       | CURTISS-WRIGHT CORP - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       219 | NS      | $37296.46     | 0.10%             |  |  |  | No            | N/A                | On Loan: No      |
| AES CORP                                  | AES CORP - TRS                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     28702 | NS      | $5417.05      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| EXELIXIS INC                              | EXELIXIS INC - TRS                          | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      5397 | NS      | $47300.99     | 0.13%             |  |  |  | No            | N/A                | On Loan: No      |
| OLYMPIC STEEL INC                         | OLYMPIC STEEL INC - TRS                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      3703 | NS      | $-1915.59     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| AVIDITY BIOSCIENCES                       | AVIDITY BIOSCIENCES - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -5767 | NS      | $29843.58     | 0.08%             |  |  |  | No            | N/A                | On Loan: No      |
| TORO CO                                   | TORO CO - TRS                               | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      4422 | NS      | $-43505.89    | -0.12%            |  |  |  | No            | N/A                | On Loan: No      |
| Booking Holdings Inc                      | Booking Holdings, Inc.                      | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |        48 | NS      | $277883.52    | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| WEC ENERGY GROUP INC                      | WEC ENERGY GROUP INC - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       885 | NS      | $-3295.44     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| S&P GLOBAL INC                            | S&P GLOBAL INC - TRS                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       276 | NS      | $-3877.69     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| ADT INC                                   | ADT INC - TRS                               | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     24442 | NS      | $32218.32     | 0.09%             |  |  |  | No            | N/A                | On Loan: No      |
| T-Mobile US Inc                           | T-Mobile USA, Inc.                          | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |       821 | NS      | $195611.46    | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| KALVISTA PHARMACEUTI                      | KALVISTA PHARMACEUTI - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -16444 | NS      | $36745.72     | 0.10%             |  |  |  | No            | N/A                | On Loan: No      |
| INTL FLAVORS & FRAGR                      | INTL FLAVORS & FRAGR - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -3656 | NS      | $33640.69     | 0.09%             |  |  |  | No            | N/A                | On Loan: No      |
| REVOLUTION MEDICINES                      | REVOLUTION MEDICINES - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -6418 | NS      | $24818.92     | 0.07%             |  |  |  | No            | N/A                | On Loan: No      |
| CORE NATURAL RESOURC                      | CORE NATURAL RESOURC - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -2645 | NS      | $-9020.92     | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| DORIAN LPG LTD                            | DORIAN LPG LTD - TRS                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     10095 | NS      | $27698.64     | 0.08%             |  |  |  | No            | N/A                | On Loan: No      |
| MERCK & CO. INC.                          | MERCK & CO. INC. - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2490 | NS      | $-30258.55    | -0.08%            |  |  |  | No            | N/A                | On Loan: No      |
| AMERIPRISE FINANCIAL                      | AMERIPRISE FINANCIAL - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       315 | NS      | $682.57       | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| AT&T Inc                                  | AT&T, Inc.                                  | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |      8418 | NS      | $243616.92    | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| BRADY CORPORATION -                       | BRADY CORPORATION - - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1950 | NS      | $5418.16      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Verizon Communications Inc.               | Verizon Communications, Inc.                | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |      5082 | NS      | $219898.14    | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| USANA Health Sciences Inc.                | USANA Health Sciences, Inc.                 | CUSIP: 90328M107<br>LEI: 549300YTURXE814MAH96 | Long             | EC               | CORP              | US        |      2273 | NS      | $69394.69     | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| LIBERTY GLOBAL LTD-A                      | LIBERTY GLOBAL LTD-A - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     29725 | NS      | $-62922.89    | -0.17%            |  |  |  | No            | N/A                | On Loan: No      |
| WEYERHAEUSER CO                           | WEYERHAEUSER CO - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -7160 | NS      | $-2547.05     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| ARCHER AVIATION INC-                      | ARCHER AVIATION INC- - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -11650 | NS      | $-27118.16    | -0.07%            |  |  |  | No            | N/A                | On Loan: No      |
| CERTARA INC                               | CERTARA INC - TRS                           | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      8081 | NS      | $20250.18     | 0.06%             |  |  |  | No            | N/A                | On Loan: No      |
| McGrath RentCorp.                         | McGrath RentCorp                            | CUSIP: 580589109<br>LEI: 254900EUH6IPWFQ83445 | Long             | EC               | CORP              | US        |      1420 | NS      | $164663.20    | 0.45%             |  |  |  | No            | 1                  | On Loan: No      |
| IRIDIUM COMMUNICATIO                      | IRIDIUM COMMUNICATIO - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     10888 | NS      | $-17537.50    | -0.05%            |  |  |  | No            | N/A                | On Loan: No      |
| GRAND CANYON EDUCATI                      | GRAND CANYON EDUCATI - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1073 | NS      | $8281.50      | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Carlisle Companies Inc.                   | Carlisle Cos., Inc.                         | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |       375 | NS      | $140025.00    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| ILLINOIS TOOL WORKS                       | ILLINOIS TOOL WORKS - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       655 | NS      | $-13142.52    | -0.04%            |  |  |  | No            | N/A                | On Loan: No      |
| SIMPLY GOOD FOODS CO                      | SIMPLY GOOD FOODS CO - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      4212 | NS      | $-7291.43     | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| NextEra Energy Inc                        | NextEra Energy, Inc.                        | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |      2531 | NS      | $175702.02    | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| STEPAN CO                                 | STEPAN CO - TRS                             | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -4056 | NS      | $80755.47     | 0.22%             |  |  |  | No            | N/A                | On Loan: No      |
| Artisan Partners Asset Management Inc.    | Artisan Partners Asset Management, Inc.     | CUSIP: 04316A108<br>LEI: 549300T1FUI6JF63XU51 | Long             | EC               | CORP              | US        |      4039 | NS      | $179048.87    | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| LENDINGTREE INC                           | LENDINGTREE INC - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1780 | NS      | $-11189.86    | -0.03%            |  |  |  | No            | N/A                | On Loan: No      |
| Verisk Analytics, Inc.                    | Verisk Analytics, Inc.                      | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |      1233 | NS      | $384079.50    | 1.05%             |  |  |  | No            | 1                  | On Loan: No      |
| CHEMOURS CO/THE                           | CHEMOURS CO/THE - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -24193 | NS      | $204727.15    | 0.56%             |  |  |  | No            | N/A                | On Loan: No      |
| NEXPOINT RESIDENTIAL                      | NEXPOINT RESIDENTIAL - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -5861 | NS      | $3237.64      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| INTERACTIVE BROKERS                       | INTERACTIVE BROKERS - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      3680 | NS      | $24560.02     | 0.07%             |  |  |  | No            | N/A                | On Loan: No      |
| BIOCRYST PHARMACEUTI                      | BIOCRYST PHARMACEUTI - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     12767 | NS      | $7075.61      | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| National Fuel Gas Company                 | National Fuel Gas Company                   | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |      3056 | NS      | $258873.76    | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Chevron Corp.                             | Chevron Corporation                         | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2706 | NS      | $387472.14    | 1.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Annaly Capital Management, Inc.           | Annaly Capital Management, Inc.             | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |      6025 | NS      | $113390.50    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| JBG SMITH PROPERTIES                      | JBG SMITH PROPERTIES - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -11049 | NS      | $-29962.14    | -0.08%            |  |  |  | No            | N/A                | On Loan: No      |
| WESTLAKE CORP                             | WESTLAKE CORP - TRS                         | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -4804 | NS      | $138685.92    | 0.38%             |  |  |  | No            | N/A                | On Loan: No      |
| Cirrus Logic, Inc.                        | Cirrus Logic, Inc.                          | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |       501 | NS      | $52231.76     | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| HealthStream Inc.                         | HealthStream, Inc.                          | CUSIP: 42222N103<br>LEI: 529900OJ88H8635JNH64 | Long             | EC               | CORP              | US        |      2152 | NS      | $59545.84     | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| IRON MOUNTAIN INC                         | IRON MOUNTAIN INC - TRS                     | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -5067 | NS      | $-106915.92   | -0.29%            |  |  |  | No            | N/A                | On Loan: No      |
| QUALCOMM INC                              | QUALCOMM INC - TRS                          | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       664 | NS      | $6666.10      | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| ANTERIX INC                               | ANTERIX INC - TRS                           | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      6358 | NS      | $-80761.69    | -0.22%            |  |  |  | No            | N/A                | On Loan: No      |
| 3M Company                                | 3M Company                                  | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |      1397 | NS      | $212679.28    | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| OTIS WORLDWIDE CORP                       | OTIS WORLDWIDE CORP - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1221 | NS      | $-3442.67     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| ALLEGION PLC                              | ALLEGION PLC - TRS                          | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       789 | NS      | $9064.43      | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Atmos Energy Corp.                        | Atmos Energy Corporation                    | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               | CORP              | US        |      3493 | NS      | $538306.23    | 1.47%             |  |  |  | No            | 1                  | On Loan: No      |
| VISTRA CORP                               | VISTRA CORP - TRS                           | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1340 | NS      | $22991.07     | 0.06%             |  |  |  | No            | N/A                | On Loan: No      |
| FRESHPET INC                              | FRESHPET INC - TRS                          | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2634 | NS      | $-15132.92    | -0.04%            |  |  |  | No            | N/A                | On Loan: No      |
| DT Midstream Inc                          | DT Midstream, Inc.                          | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3144 | NS      | $345557.04    | 0.95%             |  |  |  | No            | 1                  | On Loan: No      |
| GARTNER INC                               | GARTNER INC - TRS                           | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       200 | NS      | $-20153.98    | -0.06%            |  |  |  | No            | N/A                | On Loan: No      |
| CLEARWATER PAPER COR                      | CLEARWATER PAPER COR - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -11619 | NS      | $5614.73      | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Simply Good Foods Company                 | Simply Good Foods Company (The)             | CUSIP: 82900L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2808 | NS      | $88704.72     | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| MINERALS TECHNOLOGIE                      | MINERALS TECHNOLOGIE - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -5631 | NS      | $5398.59      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Ubiquiti Inc                              | Ubiquiti, Inc.                              | CUSIP: 90353W103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       186 | NS      | $76566.90     | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| MAPLEBEAR INC                             | MAPLEBEAR INC - TRS                         | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      4125 | NS      | $-4509.90     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| SCORPIO TANKERS INC                       | SCORPIO TANKERS INC - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      3643 | NS      | $888.50       | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| FORTUNE BRANDS INNOV                      | FORTUNE BRANDS INNOV - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2195 | NS      | $-26205.31    | -0.07%            |  |  |  | No            | N/A                | On Loan: No      |
| Federal Agricultural Mortgage Corporation | Federal Agricultural Mortgage Corporation   | CUSIP: 313148306<br>LEI: 549300MS654K78GYF580 | Long             | EC               | USGA              | US        |       702 | NS      | $136384.56    | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| ASTRIA THERAPEUTICS                       | ASTRIA THERAPEUTICS - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -31177 | NS      | $26407.90     | 0.07%             |  |  |  | No            | N/A                | On Loan: No      |
| TPG RE Finance Trust Inc.                 | TPG RE FINANCE TRUST INC                    | CUSIP: 87266M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7090 | NS      | $54734.80     | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| MSCI INC                                  | MSCI INC - TRS                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       467 | NS      | $-7471.80     | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| Invesco Mortgage Capital Inc.             | Invesco Mortgage Capital, Inc.              | CUSIP: 46131B704<br>LEI: PV3BDP2HFZL2FNXQBL39 | Long             | EC               | CORP              | US        |     13740 | NS      | $107721.60    | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| EVERGY INC                                | EVERGY INC - TRS                            | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2764 | NS      | $7674.11      | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Regions Financial Corporation             | Regions Financial Corporation               | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |      6376 | NS      | $149963.52    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| WEC Energy Group Inc.                     | WEC Energy Group, Inc.                      | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |       590 | NS      | $61478.00     | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| SYMBOTIC INC                              | SYMBOTIC INC - TRS                          | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      4682 | NS      | $43031.44     | 0.12%             |  |  |  | No            | N/A                | On Loan: No      |
| PTC Inc                                   | PTC, Inc.                                   | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |       548 | NS      | $94442.32     | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| MOODY'S CORP                              | MOODY'S CORP - TRS                          | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       340 | NS      | $-2948.29     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| HUT 8 CORP                                | HUT 8 CORP - TRS                            | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -8694 | NS      | $-42957.82    | -0.12%            |  |  |  | No            | N/A                | On Loan: No      |
| United Airlines Holdings Inc              | United Airlines Holdings, Inc.              | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               | CORP              | US        |      1297 | NS      | $103280.11    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| P G & E CORP                              | P G & E CORP - TRS                          | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     10652 | NS      | $-58450.06    | -0.16%            |  |  |  | No            | N/A                | On Loan: No      |
| HUB GROUP INC-CL A                        | HUB GROUP INC-CL A - TRS                    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -12921 | NS      | $-5800.80     | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| DOXIMITY INC-CLASS A                      | DOXIMITY INC-CLASS A - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2961 | NS      | $11521.65     | 0.03%             |  |  |  | No            | N/A                | On Loan: No      |
| VERIZON COMMUNICATIO                      | VERIZON COMMUNICATIO - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      7622 | NS      | $-4529.97     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| PVH CORP                                  | PVH CORP - TRS                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1132 | NS      | $-10865.86    | -0.03%            |  |  |  | No            | N/A                | On Loan: No      |
| SOUTHERN CO/THE                           | SOUTHERN CO/THE - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      3729 | NS      | $4106.85      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| ORCHID ISLAND CAPITA                      | ORCHID ISLAND CAPITA - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     21969 | NS      | $18394.16     | 0.05%             |  |  |  | No            | N/A                | On Loan: No      |
| Antero Midstream Corporation              | Antero Midstream Corporation                | CUSIP: 03676B102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14899 | NS      | $282336.05    | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| POSTAL REALTY TRUST                       | POSTAL REALTY TRUST - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -8343 | NS      | $-16713.85    | -0.05%            |  |  |  | No            | N/A                | On Loan: No      |
| Meta Platforms Inc                        | Meta Platforms, Inc. Class A                | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |       272 | NS      | $200760.48    | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| H.B. FULLER CO.                           | H.B. FULLER CO. - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -5080 | NS      | $-20147.10    | -0.06%            |  |  |  | No            | N/A                | On Loan: No      |
| Brady Corp                                | Brady Corporation Class A                   | CUSIP: 104674106<br>LEI: 549300G2LEQOFQC8GY34 | Long             | EC               | CORP              | US        |      1300 | NS      | $88361.00     | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| MANHATTAN ASSOCIATES                      | MANHATTAN ASSOCIATES - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       637 | NS      | $6128.39      | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| WD-40 Co.                                 | WD-40 Company                               | CUSIP: 929236107<br>LEI: 549300UZHTN0CNKBOB19 | Long             | EC               | CORP              | US        |       209 | NS      | $47670.81     | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| WORLD KINECT CORP                         | WORLD KINECT CORP - TRS                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      6515 | NS      | $5241.46      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Godaddy Inc                               | GoDaddy, Inc.                               | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Long             | EC               | CORP              | US        |       393 | NS      | $70763.58     | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| TELEPHONE AND DATA S                      | TELEPHONE AND DATA S - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      8570 | NS      | $-12374.27    | -0.03%            |  |  |  | No            | N/A                | On Loan: No      |
| Iridium Communications, Inc.              | Iridium Communications, Inc.                | CUSIP: 46269C102<br>LEI: 549300U620NVQ4J1CT96 | Long             | EC               | CORP              | US        |      6730 | NS      | $203044.10    | 0.56%             |  |  |  | No            | 1                  | On Loan: No      |
| SPOK HOLDINGS INC                         | SPOK HOLDINGS INC - TRS                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     16733 | NS      | $10411.57     | 0.03%             |  |  |  | No            | N/A                | On Loan: No      |
| PG&E Corporation                          | PG&E Corporation                            | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |      1397 | NS      | $19474.18     | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| MARKEL GROUP INC                          | MARKEL GROUP INC - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |       -62 | NS      | $-9773.17     | -0.03%            |  |  |  | No            | N/A                | On Loan: No      |
| CELLDEX THERAPEUTICS                      | CELLDEX THERAPEUTICS - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -8379 | NS      | $18905.76     | 0.05%             |  |  |  | No            | N/A                | On Loan: No      |
| CARNIVAL CORP                             | CARNIVAL CORP - TRS                         | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      3577 | NS      | $14268.34     | 0.04%             |  |  |  | No            | N/A                | On Loan: No      |
| WIX.COM LTD                               | WIX.COM LTD - TRS                           | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       649 | NS      | $-21384.25    | -0.06%            |  |  |  | No            | N/A                | On Loan: No      |
| Bioventus Inc.                            | Bioventus, Inc.                             | CUSIP: 09075A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7375 | NS      | $48822.50     | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Targa Resources Corp.                     | Targa Resources Corp.                       | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |       635 | NS      | $110540.80    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Commerce Bancshares Inc                   | Commerce Bancshares, Inc.                   | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1363 | NS      | $84737.71     | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| LIBERTY MEDIA CORP-L                      | LIBERTY MEDIA CORP-L - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -3909 | NS      | $-41762.38    | -0.11%            |  |  |  | No            | N/A                | On Loan: No      |
| Southern Copper Corporation               | Southern Copper Corporation                 | CUSIP: 84265V105<br>LEI: 2549007U6NAP46Q9TU15 | Long             | EC               | CORP              | US        |      4241 | NS      | $429061.97    | 1.17%             |  |  |  | No            | 1                  | On Loan: No      |
| BOOZ ALLEN HAMILTON                       | BOOZ ALLEN HAMILTON - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1326 | NS      | $-13216.18    | -0.04%            |  |  |  | No            | N/A                | On Loan: No      |
| Otis Worldwide Corp.                      | Otis Worldwide Corporation                  | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |       814 | NS      | $80602.28     | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| BKV CORPORATION                           | BKV CORPORATION - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -24325 | NS      | $-38571.98    | -0.11%            |  |  |  | No            | N/A                | On Loan: No      |
| Ralph Lauren Corp.                        | Ralph Lauren Corporation                    | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |       315 | NS      | $86398.20     | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| SOLARIS ENERGY INFRA                      | SOLARIS ENERGY INFRA - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -5617 | NS      | $-29619.87    | -0.08%            |  |  |  | No            | N/A                | On Loan: No      |
| USANA HEALTH SCIENCE                      | USANA HEALTH SCIENCE - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      3654 | NS      | $20439.88     | 0.06%             |  |  |  | No            | N/A                | On Loan: No      |
| Reliance Inc                              | Reliance Steel & Aluminum Company           | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |      1403 | NS      | $440401.70    | 1.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Biogen Inc                                | Biogen, Inc.                                | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |      1132 | NS      | $142167.88    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| NORTHRIM BANCORP INC                      | NORTHRIM BANCORP INC - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1414 | NS      | $2529.22      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Jackson Financial Inc                     | Jackson Financial, Inc.                     | CUSIP: 46817M107<br>LEI: 213800WXW2KG1N4CO374 | Long             | EC               | CORP              | US        |       802 | NS      | $71209.58     | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| AGNC INVESTMENT CORP                      | AGNC INVESTMENT CORP - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     15416 | NS      | $2190.09      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| DYNEX CAPITAL INC                         | DYNEX CAPITAL INC - TRS                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     14038 | NS      | $9612.04      | 0.03%             |  |  |  | No            | N/A                | On Loan: No      |
| PHILIP MORRIS INTERN                      | PHILIP MORRIS INTERN - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       791 | NS      | $46680.35     | 0.13%             |  |  |  | No            | N/A                | On Loan: No      |
| JACKSON FINANCIAL IN                      | JACKSON FINANCIAL IN - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1203 | NS      | $2854.33      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Newmont Corporation                       | Newmont Corporation                         | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |      2148 | NS      | $125142.48    | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| OGE ENERGY CORP                           | OGE ENERGY CORP - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      4016 | NS      | $-2343.47     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| UNITED AIRLINES HOLD                      | UNITED AIRLINES HOLD - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2429 | NS      | $-43839.14    | -0.12%            |  |  |  | No            | N/A                | On Loan: No      |
| XENIA HOTELS & RESOR                      | XENIA HOTELS & RESOR - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -20209 | NS      | $-28474.23    | -0.08%            |  |  |  | No            | N/A                | On Loan: No      |
| TRANE TECHNOLOGIES P                      | TRANE TECHNOLOGIES P - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       631 | NS      | $54316.86     | 0.15%             |  |  |  | No            | N/A                | On Loan: No      |
| EQT CORP                                  | EQT CORP - TRS                              | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -4774 | NS      | $-48658.63    | -0.13%            |  |  |  | No            | N/A                | On Loan: No      |
| Dynex Capital Inc                         | Dynex Capital, Inc.                         | CUSIP: 26817Q886<br>LEI: 5CIJ4S9HAEBWILA19B65 | Long             | EC               | CORP              | US        |      9359 | NS      | $114366.98    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| ARTISAN PARTNERS ASS                      | ARTISAN PARTNERS ASS - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      6058 | NS      | $61127.28     | 0.17%             |  |  |  | No            | N/A                | On Loan: No      |
| Bancorp Inc                               | Bancorp, Inc. (The)                         | CUSIP: 05969A105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2147 | NS      | $122314.59    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| CORE SCIENTIFIC INC                       | CORE SCIENTIFIC INC - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -25835 | NS      | $-136024.72   | -0.37%            |  |  |  | No            | N/A                | On Loan: No      |
| EBAY INC                                  | EBAY INC - TRS                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1192 | NS      | $6257.30      | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| SILGAN HOLDINGS INC                       | SILGAN HOLDINGS INC - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -5196 | NS      | $-42086.24    | -0.12%            |  |  |  | No            | N/A                | On Loan: No      |
| KINDERCARE LEARNING                       | KINDERCARE LEARNING - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -27381 | NS      | $50498.37     | 0.14%             |  |  |  | No            | N/A                | On Loan: No      |
| RXO INC                                   | RXO INC - TRS                               | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -11246 | NS      | $-27551.13    | -0.08%            |  |  |  | No            | N/A                | On Loan: No      |
| Clear Secure Inc                          | Clear Secure, Inc.                          | CUSIP: 18467V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2679 | NS      | $74369.04     | 0.20%             |  |  |  | No            | 1                  | On Loan: No      |
| FLUOR CORP                                | FLUOR CORP - TRS                            | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2636 | NS      | $41300.09     | 0.11%             |  |  |  | No            | N/A                | On Loan: No      |
| URANIUM ENERGY CORP                       | URANIUM ENERGY CORP - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -70939 | NS      | $-153235.34   | -0.42%            |  |  |  | No            | N/A                | On Loan: No      |
| NERDWALLET INC-CL A                       | NERDWALLET INC-CL A - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      9366 | NS      | $1711.36      | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Nextracker Inc.                           | Nextracker Inc - Class A                    | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1402 | NS      | $76226.74     | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| CG ONCOLOGY INC                           | CG ONCOLOGY INC - TRS                       | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -6983 | NS      | $-7581.62     | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| Colgate-Palmolive Co.                     | Colgate-Palmolive Company                   | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |      2583 | NS      | $234794.70    | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| COEUR MINING INC                          | COEUR MINING INC - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     39595 | NS      | $134073.25    | 0.37%             |  |  |  | No            | N/A                | On Loan: No      |
| TOOTSIE ROLL INDS                         | TOOTSIE ROLL INDS - TRS                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      6013 | NS      | $4910.62      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| BIOVENTUS INC - A                         | BIOVENTUS INC - A - TRS                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     16253 | NS      | $-16452.99    | -0.05%            |  |  |  | No            | N/A                | On Loan: No      |
| Armstrong World Industries, Inc.          | Armstrong World Industries, Inc.            | CUSIP: 04247X102<br>LEI: KXMRXXOJ88Q45Y45MG74 | Long             | EC               | CORP              | US        |      1205 | NS      | $195740.20    | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| TE CONNECTIVITY PLC                       | TE CONNECTIVITY PLC - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -2611 | NS      | $-53020.44    | -0.15%            |  |  |  | No            | N/A                | On Loan: No      |
| COOPER COS INC/THE                        | COOPER COS INC/THE - TRS                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1794 | NS      | $-1702.08     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| GILEAD SCIENCES INC                       | GILEAD SCIENCES INC - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1803 | NS      | $-4603.03     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| NABORS INDUSTRIES LT                      | NABORS INDUSTRIES LT - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -5489 | NS      | $9639.68      | 0.03%             |  |  |  | No            | N/A                | On Loan: No      |
| Liberty Global Ltd.                       | Liberty Global Ltd.                         | CUSIP: G61188101<br>LEI: 213800HRMKKTYH7SKA24 | Long             | EC               | CORP              | GB        |     14670 | NS      | $146846.70    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Fluor Corporation                         | Fluor Corporation                           | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |      1757 | NS      | $90081.39     | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| 89BIO INC                                 | 89BIO INC - TRS                             | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -16968 | NS      | $-39623.10    | -0.11%            |  |  |  | No            | N/A                | On Loan: No      |
| GENIE ENERGY LTD-B                        | GENIE ENERGY LTD-B - TRS                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     12997 | NS      | $155311.15    | 0.43%             |  |  |  | No            | N/A                | On Loan: No      |
| Williams Companies Inc. (The)             | Williams Companies, Inc. (The)              | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |      2493 | NS      | $156585.33    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Carnival Corporation                      | Carnival Corporation                        | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | US        |      2385 | NS      | $67066.20     | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| QCR Holdings Inc.                         | QCR HOLDINGS, INC.                          | CUSIP: 74727A104<br>LEI: 549300MWKWM7KWJVQO33 | Long             | EC               | CORP              | US        |       734 | NS      | $49838.60     | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| AMPHENOL CORP-CL A                        | AMPHENOL CORP-CL A - TRS                    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -2222 | NS      | $-83724.42    | -0.23%            |  |  |  | No            | N/A                | On Loan: No      |
| RYERSON HOLDING CORP                      | RYERSON HOLDING CORP - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      5429 | NS      | $801.69       | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| ATN International Inc.                    | ATN International, Inc.                     | CUSIP: 00215F107<br>LEI: 54930013NP7VEU877V56 | Long             | EC               | CORP              | US        |      7661 | NS      | $124491.25    | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| PENTAIR PLC                               | PENTAIR PLC - TRS                           | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1327 | NS      | $10648.36     | 0.03%             |  |  |  | No            | N/A                | On Loan: No      |
| AERCAP HOLDINGS NV                        | AERCAP HOLDINGS NV - TRS                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1832 | NS      | $29839.48     | 0.08%             |  |  |  | No            | N/A                | On Loan: No      |
| TRUBRIDGE INC                             | TRUBRIDGE INC - TRS                         | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      7066 | NS      | $-19400.99    | -0.05%            |  |  |  | No            | N/A                | On Loan: No      |
| Adtalem Global Education Inc              | Adtalem Global Education, Inc.              | CUSIP: 00737L103<br>LEI: 549300Z467EZLMODV621 | Long             | EC               | CORP              | US        |       545 | NS      | $69340.35     | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| STRUCTURE THERAPEUTI                      | STRUCTURE THERAPEUTI - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -4768 | NS      | $1854.38      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| LENNOX INTERNATIONAL                      | LENNOX INTERNATIONAL - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       225 | NS      | $-8253.06     | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| Starwood Property Trust, Inc.             | Starwood Property Trust, Inc. REIT          | CUSIP: 85571B105<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | EC               | CORP              | US        |      7320 | NS      | $146912.40    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Genie Energy Ltd                          | Genie Energy Ltd. Class B                   | CUSIP: 372284208<br>LEI: 52990057E36X8869GX58 | Long             | EC               | CORP              | US        |      5353 | NS      | $143888.64    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| NVIDIA CORP                               | NVIDIA CORP - TRS                           | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2014 | NS      | $32408.70     | 0.09%             |  |  |  | No            | N/A                | On Loan: No      |
| Lendingtree Inc                           | LendingTree, Inc.                           | CUSIP: 52603B107<br>LEI: 549300ISY5YHUJZTON08 | Long             | EC               | CORP              | US        |      1084 | NS      | $40183.88     | 0.11%             |  |  |  | No            | 1                  | On Loan: No      |
| ROYAL CARIBBEAN CRUI                      | ROYAL CARIBBEAN CRUI - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       452 | NS      | $32945.06     | 0.09%             |  |  |  | No            | N/A                | On Loan: No      |
| Embecta Corp.                             | Embecta Corporation                         | CUSIP: 29082K105<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | EC               | CORP              | US        |      6480 | NS      | $62791.20     | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Merck & Co., Inc                          | Merck & Company, Inc.                       | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      1660 | NS      | $131405.60    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| GXO LOGISTICS INC                         | GXO LOGISTICS INC - TRS                     | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -3784 | NS      | $-63061.92    | -0.17%            |  |  |  | No            | N/A                | On Loan: No      |
| Veeva Systems Inc                         | Veeva Systems, Inc. Class A                 | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |      1137 | NS      | $327433.26    | 0.90%             |  |  |  | No            | 1                  | On Loan: No      |
| MAUI LAND & PINEAPPL                      | MAUI LAND & PINEAPPL - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -9758 | NS      | $608.72       | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Olympic Steel Inc.                        | Olympic Steel, Inc.                         | CUSIP: 68162K106<br>LEI: 549300GQ061U6N6KWJ49 | Long             | EC               | CORP              | US        |      2469 | NS      | $80464.71     | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Allegion PLC                              | Allegion plc                                | CUSIP: G0176J109<br>LEI: 984500560CAC2E6FB757 | Long             | EC               | CORP              | IE        |       833 | NS      | $120051.96    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| NEXTERA ENERGY INC                        | NEXTERA ENERGY INC - TRS                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      3796 | NS      | $-27959.64    | -0.08%            |  |  |  | No            | N/A                | On Loan: No      |
| MCGRATH RENTCORP                          | MCGRATH RENTCORP - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      2531 | NS      | $28350.89     | 0.08%             |  |  |  | No            | N/A                | On Loan: No      |
| GOOSEHEAD INSURANCE                       | GOOSEHEAD INSURANCE - TRS                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1095 | NS      | $706.33       | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| FREEPORT-MCMORAN INC                      | FREEPORT-MCMORAN INC - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      7577 | NS      | $37018.44     | 0.10%             |  |  |  | No            | N/A                | On Loan: No      |
| F5 Inc                                    | F5 Networks, Inc.                           | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |       161 | NS      | $47385.52     | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| ATLANTA BRAVES HOLDI                      | ATLANTA BRAVES HOLDI - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -6700 | NS      | $-38572.11    | -0.11%            |  |  |  | No            | N/A                | On Loan: No      |
| NORTHWEST BANCSHARES                      | NORTHWEST BANCSHARES - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     15983 | NS      | $7350.25      | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Constellation Brands, Inc.                | Constellation Brands, Inc. Class A          | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |      2271 | NS      | $369446.28    | 1.01%             |  |  |  | No            | 1                  | On Loan: No      |
| ALIGN TECHNOLOGY INC                      | ALIGN TECHNOLOGY INC - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       912 | NS      | $8515.50      | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Pentair PLC                               | Pentair plc                                 | CUSIP: G7S00T104<br>LEI: 549300EVR9D56WPSRP15 | Long             | EC               | CORP              | GB        |       884 | NS      | $90751.44     | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| SUNRUN INC                                | SUNRUN INC - TRS                            | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |    -16419 | NS      | $37236.90     | 0.10%             |  |  |  | No            | N/A                | On Loan: No      |
| TPG RE FINANCE TRUST                      | TPG RE FINANCE TRUST - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     10635 | NS      | $-10454.05    | -0.03%            |  |  |  | No            | N/A                | On Loan: No      |
| Kimberly-Clark Corporation                | Kimberly-Clark Corporation                  | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |      2628 | NS      | $338801.76    | 0.93%             |  |  |  | No            | 1                  | On Loan: No      |
| CONSOLIDATED WATER C                      | CONSOLIDATED WATER C - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      5956 | NS      | $25686.65     | 0.07%             |  |  |  | No            | N/A                | On Loan: No      |
| SNAP-ON INC                               | SNAP-ON INC - TRS                           | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       359 | NS      | $-12125.15    | -0.03%            |  |  |  | No            | N/A                | On Loan: No      |
| MESABI TRUST                              | MESABI TRUST - TRS                          | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      6419 | NS      | $-18780.39    | -0.05%            |  |  |  | No            | N/A                | On Loan: No      |
| Costamare Inc.                            | COSTAMARE, INC.                             | CUSIP: Y1771G102<br>LEI: 5299003L6NPTZ25LN818 | Long             | EC               | CORP              | MC        |      5873 | NS      | $53503.03     | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Hershey Co. (The)                         | Hershey Company (The)                       | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |      2284 | NS      | $379029.80    | 1.04%             |  |  |  | No            | 1                  | On Loan: No      |
| QCR HOLDINGS INC                          | QCR HOLDINGS INC - TRS                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1102 | NS      | $-8738.03     | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| PENNYMAC FINANCIAL S                      | PENNYMAC FINANCIAL S - TRS                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -1992 | NS      | $-7586.09     | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| ABM INDUSTRIES INC                        | ABM INDUSTRIES INC - TRS                    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |     -4476 | NS      | $15065.86     | 0.04%             |  |  |  | No            | N/A                | On Loan: No      |
| Emcor Group Inc                           | EMCOR Group, Inc.                           | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |       122 | NS      | $65256.58     | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2025-08-27

**Name of Applicant:** New Age Alpha Funds Trust

**Signature:** Keith D. Kemp

**Name of Signer:** Keith D. Kemp

**Title:** President