# EDGAR Filing Document

**Accession Number:** 0001260667
**File Stem:** 0001162044-25-000842
**Filing Date:** 2025-8
**Character Count:** 40409
**Document Hash:** d8468a0fc7f2fe16a875d65b8d3ab086
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001162044-25-000842.hdr.sgml**: 20250820

**ACCESSION NUMBER**: 0001162044-25-000842

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250820

**DATE AS OF CHANGE**: 20250820

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ANCORA TRUST
- **CENTRAL INDEX KEY:** 0001260667

**ORGANIZATION NAME:**
- **EIN:** 020712385
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21418
- **FILM NUMBER:** 251235979

**BUSINESS ADDRESS:**
- **STREET 1:** 6060 PARKLAND BOULEVARD, SUITE 200
- **CITY:** CLEVELAND
- **STATE:** OH
- **ZIP:** 44124
- **BUSINESS PHONE:** 216-825-4000

**MAIL ADDRESS:**
- **STREET 1:** 6060 PARKLAND BOULEVARD, SUITE 200
- **CITY:** CLEVELAND
- **STATE:** OH
- **ZIP:** 44124

## Series and Classes Contracts Data

### Ancora/Thelen Small-Mid Cap (Series ID: S000039307)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000121113 | Class I      | AATIX           |
| C000144725 | Class S      | AATSX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** ANCORA TRUST

- **b. Investment Company Act file number:** 811-21418

- **c. CIK number of Registrant:** 0001260667

- **d. LEI of Registrant:** 549300QN8N2QFNY1O803

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

  - **Street Address 1:** 6060 Parkland Boulevard

  - **City:** Cleveland

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 44124

  - **Telephone number:** 216-593-5020

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

- **a. Name of Series:** Ancora/Thelen Small-Mid Cap Fund

- **b. EDGAR series identifier (if any):** S000039307

- **c. LEI of Series:** 549300NC6ODFXR9U1285

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

- **a. Date of fiscal year-end:** 2025-12-31

- **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:** $198946638.96

**Total Liabilities:** $404209.60

**Net Assets:** $198542429.36

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000121113 | -4.48%               | 6.48%                | 2.29%                |
| Class ID C000144725 | -4.45%               | 6.55%                | 2.26%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2112231.82             | $-6190598.03                               |
| Month 2  | $-1934447.98             | $13746436.48                               |
| Month 3  | $-894639.12              | $5033269.98                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| APi Group Corp.                                                    | APi Group Corp.                                                    | CUSIP: 00187Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61597 | NS      | $3144526.85   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| ARKO Corp.                                                         | ARKO Corp.                                                         | CUSIP: 041242108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33840 | NS      | $143143.20    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Alight, Inc.                                                       | Alight, Inc. Class A                                               | CUSIP: 01626W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    517564 | NS      | $2929412.24   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Amcor plc                                                          | Amcor plc                                                          | CUSIP: G0250X107<br>LEI: 549300GSODGFCDQ3DI89 | Long             | EC               | CORP              | JE        |    413322 | NS      | $3798433.78   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Amentum Holdings, Inc.                                             | Amentum Holdings, Inc.                                             | CUSIP: 023939101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     68750 | NS      | $1623187.49   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Angi, Inc.                                                         | Angi, Inc.                                                         | CUSIP: 00183L201<br>LEI: 5493003ENY577E6SZL06 | Long             | EC               | CORP              | US        |    216956 | NS      | $3310748.56   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Aramark                                                            | Aramark                                                            | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Long             | EC               | CORP              | US        |    125240 | NS      | $5243798.80   | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcosa, Inc.                                                       | Arcosa, Inc.                                                       | CUSIP: 039653100<br>LEI: 549300WFHLTCZV7D6V29 | Long             | EC               | CORP              | US        |     27869 | NS      | $2416520.99   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlanta Braves Holdings, Inc.                                      | Atlanta Braves Holdings, Inc.                                      | CUSIP: 047726302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     76095 | NS      | $3558963.15   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmus Filtration Technologies, Inc.                                | Atmus Filtration Technologies, Inc.                                | CUSIP: 04956D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    115610 | NS      | $4210516.20   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CTO Realty Growth, Inc.                                            | CTO Realty Growth, Inc.                                            | CUSIP: 22948Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     57278 | NS      | $988618.28    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Calavo Growers, Inc.                                               | Calavo Growers, Inc.                                               | CUSIP: 128246105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    114020 | NS      | $3031791.80   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Cannae Holdings, Inc.                                              | Cannae Holdings, Inc.                                              | CUSIP: 13765N107<br>LEI: 549300OGRF1ICI7D2V77 | Long             | EC               | CORP              | US        |     82880 | NS      | $1728048.00   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Cavco Industries, Inc.                                             | Cavco Industries, Inc.                                             | CUSIP: 149568107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2646 | NS      | $1149501.78   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Centuri Holdings, Inc.                                             | Centuri Holdings, Inc.                                             | CUSIP: 155923105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45014 | NS      | $1010114.16   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearwater Paper Corp.                                             | Clearwater Paper Corp.                                             | CUSIP: 18538R103<br>LEI: 549300HCVV19GXN4P292 | Long             | EC               | CORP              | US        |     29251 | NS      | $796797.24    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| CompoSecure, Inc.                                                  | CompoSecure, Inc.                                                  | CUSIP: 20459V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    133213 | NS      | $1876971.17   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Conduent, Inc.                                                     | Conduent, Inc.                                                     | CUSIP: 206787103<br>LEI: 549300SFJ2D2CYY6CQ11 | Long             | EC               | CORP              | US        |    290000 | NS      | $765600.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Costamare Bulkers Holdings Ltd                                     | Costamare Bulkers Holdings Ltd.                                    | CUSIP: Y2001C101<br>LEI: N/A                  | Long             | EC               | CORP              | MH        |    107743 | NS      | $934131.81    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane Holdings Co.                                                 | Crane Holdings Co.                                                 | CUSIP: 224408104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20877 | NS      | $3964333.53   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane NXT Co.                                                      | Crane NXT Co.                                                      | CUSIP: 224441105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    101194 | NS      | $5454356.60   | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream, Inc.                                                 | DT Midstream, Inc.                                                 | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19766 | NS      | $2172481.06   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| DiamondRock Hospitality Co.                                        | DiamondRock Hospitality Co.                                        | CUSIP: 252784301<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    195150 | NS      | $1494849.00   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Diebold Nixdorf, Inc.                                              | Diebold Nixdorf, Inc.                                              | CUSIP: 253651202<br>LEI: 549300XZK6EWDBAZSY16 | Long             | EC               | CORP              | US        |     25663 | NS      | $1421730.20   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Distribution Solutions Group, Inc.                                 | Distribution Solutions Group, Inc.                                 | CUSIP: 520776105<br>LEI: 549300H1YXSE5TXMGL51 | Long             | EC               | CORP              | US        |     15459 | NS      | $424658.73    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar Tree, Inc.                                                  | Dollar Tree, Inc.                                                  | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |      8210 | NS      | $813118.40    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ESAB Corp.                                                         | ESAB Corp.                                                         | CUSIP: 29605J106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $120.55       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| EZCORP, Inc.                                                       | EZCORP, Inc.                                                       | CUSIP: 302301106<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | EC               | CORP              | US        |     72970 | NS      | $1012823.60   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Embecta Corp.                                                      | Embecta Corp.                                                      | CUSIP: 29082K105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     73620 | NS      | $713377.80    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp.                                             | Encompass Health Corp.                                             | CUSIP: 29261A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18060 | NS      | $2214697.80   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Enovis Corp.                                                       | Enovis Corp.                                                       | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Long             | EC               | CORP              | US        |     40089 | NS      | $1257191.04   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Everus Construction Group, Inc.                                    | Everus Construction Group, Inc.                                    | CUSIP: 300426103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     76831 | NS      | $4881073.43   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| F&G Annuities & Life, Inc.                                         | F&G Annuities & Life, Inc.                                         | CUSIP: 30190A104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43521 | NS      | $1391801.58   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Agricultural Mortgage Corp.                                | Federal Agricultural Mortgage Corp.                                | CUSIP: 313148306<br>LEI: 549300MS654K78GYF580 | Long             | EC               | CORP              | US        |      9535 | NS      | $1852459.80   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Hermes Government Obligations Fund - Institutional Class | Federated Hermes Government Obligations Fund - Institutional Class | CUSIP: 60934N104<br>LEI: 25490005VWJDWX717014 | Long             | STIV             | RF                | US        |   4438654 | NS      | $4438654.17   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortive Corp.                                                      | Fortive Corp.                                                      | CUSIP: 34959J108<br>LEI: 549300MU9YQJYHDQEF63 | Long             | EC               | CORP              | US        |     16720 | NS      | $871613.60    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortune Brands Home & Security, Inc.                               | Fortune Brands Innovations, Inc.                                   | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Long             | EC               | CORP              | US        |    107823 | NS      | $5550728.04   | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Freightcar America, Inc.                                           | FreightCar America, Inc.                                           | CUSIP: 357023100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    119391 | NS      | $1029150.42   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontdoor, Inc.                                                    | Frontdoor, Inc.                                                    | CUSIP: 35905A109<br>LEI: 5493008RB0JZJI3QGZ06 | Long             | EC               | CORP              | US        |     39680 | NS      | $2338739.20   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Gibraltar Industries, Inc.                                         | Gibraltar Industries, Inc.                                         | CUSIP: 374689107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     49101 | NS      | $2896959.00   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp.                                                  | HF Sinclair Corp.                                                  | CUSIP: 403949100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11040 | NS      | $453523.20    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Houlihan Lokey, Inc.                                               | Houlihan Lokey, Inc. Class A                                       | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |     14316 | NS      | $2576164.20   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Howard Hughes Holdings, Inc.                                       | Howard Hughes Holdings, Inc.                                       | CUSIP: 44267T102<br>LEI: 549300BVHY25JZC1KI49 | Long             | EC               | CORP              | US        |     41088 | NS      | $2773440.00   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| IAC/InterActive Corp.                                              | IAC/InterActive Corp.                                              | CUSIP: 44891N208<br>LEI: 15OMOPB0A8K0EFUVD031 | Long             | EC               | CORP              | US        |    107191 | NS      | $4002511.94   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingevity Corp.                                                     | Ingevity Corp.                                                     | CUSIP: 45688C107<br>LEI: 5493009UTFC4B5IMGF87 | Long             | EC               | CORP              | US        |     36930 | NS      | $1591313.70   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Insteel Industries, Inc.                                           | Insteel Industries, Inc.                                           | CUSIP: 45774W108<br>LEI: 52990026LKY4MOX3L174 | Long             | EC               | CORP              | US        |     58031 | NS      | $2159333.51   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Jackson Financial, Inc.                                            | Jackson Financial, Inc.                                            | CUSIP: 46817M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29509 | NS      | $2620104.11   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Jacobs Solutions, Inc.                                             | Jacobs Solutions, Inc.                                             | CUSIP: 46982L108<br>LEI: 549300CZ8QS1GE53O776 | Long             | EC               | CORP              | US        |     17430 | NS      | $2291173.50   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyndryl Holdings, Inc.                                             | Kyndryl Holding, Inc.                                              | CUSIP: 50155Q100<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | EC               | CORP              | US        |    116630 | NS      | $4893794.80   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| MDU Resources Group, Inc.                                          | MDU Resources Group, Inc.                                          | CUSIP: 552690109<br>LEI: 0T6SBMK3JTBI1JR36794 | Long             | EC               | CORP              | US        |    183916 | NS      | $3065879.72   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnera Corp.                                                      | Magnera Corp.                                                      | CUSIP: 55939A107<br>LEI: 549300LDQLQBT38QDY28 | Long             | EC               | CORP              | US        |    160979 | NS      | $1944626.32   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Masterbrand, Inc.                                                  | Masterbrand, Inc.                                                  | CUSIP: 57638P104<br>LEI: 549300E0Y4BR5Z9RDZ64 | Long             | EC               | CORP              | US        |    214808 | NS      | $2347851.44   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Mayville Engineering Co., Inc.                                     | Mayville Engineering Co., Inc.                                     | CUSIP: 578605107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    125090 | NS      | $1996436.40   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Middleby Corp.                                                     | Middleby Corp.                                                     | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |     21040 | NS      | $3029760.00   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Millrose Properties, Inc.                                          | Millrose Properties, Inc.                                          | CUSIP: 601137102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59240 | NS      | $1688932.40   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| NCR Voyix Corp.                                                    | NCR Voyix Corp.                                                    | CUSIP: 62886E108<br>LEI: 549300YKTY8JX1DV2R67 | Long             | EC               | CORP              | US        |     83560 | NS      | $980158.80    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| NPK International, Inc.                                            | NPK International, Inc.                                            | CUSIP: 651718504<br>LEI: 54930073OHWDQW4DJN26 | Long             | EC               | CORP              | US        |    398450 | NS      | $3390809.50   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| National CineMedia, Inc.                                           | National CineMedia, Inc.                                           | CUSIP: 635309206<br>LEI: 5493000MOLIVSOGKEB48 | Long             | EC               | CORP              | US        |    325266 | NS      | $1575913.77   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomad Foods Ltd.                                                   | Nomad Foods Ltd.                                                   | CUSIP: G6564A105<br>LEI: 5493000ZZ1837DS2SI43 | Long             | EC               | CORP              | VI        |     88679 | NS      | $1506656.21   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| NorthWestern Energy Group, Inc.                                    | NorthWestern Energy Group, Inc.                                    | CUSIP: 668074305<br>LEI: 3BPWMBHR1R9SHUN7J795 | Long             | EC               | CORP              | US        |     73300 | NS      | $3760290.00   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Orion Group Holdings, Inc.                                         | Orion Group Holdings, Inc.                                         | CUSIP: 68628V308<br>LEI: 549300KBVXPV9Q3CT222 | Long             | EC               | CORP              | US        |    221576 | NS      | $2009694.32   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PROG Holdings, Inc.                                                | PROG Holdings, Inc.                                                | CUSIP: 74319R101<br>LEI: 549300DHYTLBOVRXIG52 | Long             | EC               | CORP              | US        |     26890 | NS      | $789221.50    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Papa Johns International, Inc.                                     | Papa Johns International, Inc.                                     | CUSIP: 698813102<br>LEI: HZYLD3DK5XOX0WBVNB56 | Long             | EC               | CORP              | US        |     28368 | NS      | $1388329.92   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Pentair PLC.                                                       | Pentair PLC.                                                       | CUSIP: G7S00T104<br>LEI: 549300EVR9D56WPSRP15 | Long             | EC               | CORP              | IE        |     18690 | NS      | $1918715.40   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Perella Weinberg Partners                                          | Perella Weinberg Partners                                          | CUSIP: 71367G102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     84355 | NS      | $1638174.10   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Phinia, Inc.                                                       | Phinia, Inc.                                                       | CUSIP: 71880K101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     67850 | NS      | $3018646.50   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Postal Realty Trust, Inc.                                          | Postal Realty Trust, Inc.                                          | CUSIP: 73757R102<br>LEI: 5493007B7ZZSIJRGWC41 | Long             | EC               | CORP              | US        |     60028 | NS      | $884212.44    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Potbelly Corp.                                                     | Potbelly Corp.                                                     | CUSIP: 73754Y100<br>LEI: 54930027NUULUR2P5W11 | Long             | EC               | CORP              | US        |     90227 | NS      | $1105280.75   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| PotlatchDeltic Corp.                                               | PotlatchDeltic Corp.                                               | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               | CORP              | US        |    107584 | NS      | $4127998.08   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Primo Brands Corp. Class A                                         | Primo Brands Corp. Class A                                         | CUSIP: 741623102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     56007 | NS      | $1658927.34   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Pursuit Attractions & Hospitality, Inc.                            | Pursuit Attractions & Hospitality, Inc.                            | CUSIP: 92552R406<br>LEI: 549300PXU4ZW7LPO5Y40 | Long             | EC               | CORP              | US        |     60100 | NS      | $1732683.00   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| RB Global, Inc.                                                    | RB Global, Inc.                                                    | CUSIP: 74935Q107<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     17570 | NS      | $1865758.30   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Rcm Technologies Inc                                               | RCM Technologies, Inc.                                             | CUSIP: 749360400<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55469 | NS      | $1307404.33   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| RGC Resources, Inc.                                                | RGC Resources, Inc.                                                | CUSIP: 74955L103<br>LEI: 549300GO68EPQLQ7MK06 | Long             | EC               | CORP              | US        |     45755 | NS      | $1023996.90   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial, Inc.                                      | Raymond James Financial, Inc.                                      | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |     11683 | NS      | $1791821.71   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier, Inc.                                                     | Rayonier, Inc.                                                     | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |    140243 | NS      | $3110590.52   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Red Violet, Inc.                                                   | Red Violet, Inc.                                                   | CUSIP: 75704L104<br>LEI: 549300T4EGADG881UU63 | Long             | EC               | CORP              | US        |      5968 | NS      | $293625.60    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Resolute Holdings Management, Inc.                                 | Resolute Holdings Management, Inc.                                 | CUSIP: 76134H101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8695 | NS      | $277109.65    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Sandstorm Gold Ltd.                                                | Sandstorm Gold Ltd.                                                | CUSIP: 80013R206<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    170600 | NS      | $1603640.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Seaport Entertainment Group, Inc.                                  | Seaport Entertainment Group, Inc.                                  | CUSIP: 812215200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30330 | NS      | $565654.50    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Shyft Group, Inc.                                                  | Shyft Group, Inc.                                                  | CUSIP: 825698103<br>LEI: 549300YY0TB51BGRV994 | Long             | EC               | CORP              | US        |    219327 | NS      | $2750360.58   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Smithfield Foods, Inc.                                             | Smithfield Foods, Inc.                                             | CUSIP: 832248207<br>LEI: CVTIPZRZJC0JQEZLL598 | Long             | EC               | CORP              | US        |    111244 | NS      | $2617571.32   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Talkspace, Inc.                                                    | Talkspace, Inc.                                                    | CUSIP: 87427V103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    241940 | NS      | $672593.20    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| The Pennant Group, Inc.                                            | The Pennant Group, Inc.                                            | CUSIP: 70805E109<br>LEI: 5493007H2OYR6BYLDA64 | Long             | EC               | CORP              | US        |     30242 | NS      | $902723.70    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| The Scotts Miracle-Gro Co.                                         | The Scotts Miracle-Gro Co.                                         | CUSIP: 810186106<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | EC               | CORP              | US        |      9960 | NS      | $656961.60    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Titan America SA                                                   | Titan America SA                                                   | CUSIP: B9151N105<br>LEI: N/A                  | Long             | EC               | CORP              | BE        |     69890 | NS      | $872227.20    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Travel N Leisure Co.                                               | Travel N Leisure Co.                                               | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | EC               | CORP              | US        |     27432 | NS      | $1415765.52   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Trimis Corp.                                                       | Trimis Corp.                                                       | CUSIP: 896215209<br>LEI: 75G1WUQ8QK4P5MZOYD78 | Long             | EC               | CORP              | US        |     34190 | NS      | $978175.90    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI Corp.                                                          | UGI Corp.                                                          | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |    178890 | NS      | $6515173.80   | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Vectrus, Inc.                                                      | Vectrus, Inc.                                                      | CUSIP: 92242T101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20712 | NS      | $1005567.60   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Vitesse Energy, Inc.                                               | Vitesse Energy, Inc.                                               | CUSIP: 92852X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     87166 | NS      | $1925496.94   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Vontier Corp.                                                      | Vontier Corp.                                                      | CUSIP: 928881101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     98950 | NS      | $3651255.00   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Vox Royalty Corp.                                                  | Vox Royalty Corp.                                                  | CUSIP: 92919F103<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     66976 | NS      | $211644.16    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolverine World Wide, Inc.                                         | Wolverine World Wide, Inc.                                         | CUSIP: 978097103<br>LEI: 549300OVC7PK14LQ8D87 | Long             | EC               | CORP              | US        |    107557 | NS      | $1944630.56   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Wyndham Hotels & Resorts, Inc.                                     | Wyndham Hotels & Resorts, Inc.                                     | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |     20421 | NS      | $1658389.41   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| ZimVie, Inc.                                                       | ZimVie, Inc.                                                       | CUSIP: 98888T107<br>LEI: 549300GFKURT1J6XR665 | Long             | EC               | CORP              | US        |    108779 | NS      | $1017083.65   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** Ancora Trust

**Signature:** /s/ Bradley Zucker

**Name of Signer:** Bradley Zucker

**Title:** President, Treasurer and Secretary