# EDGAR Filing Document

**Accession Number:** 0001110502
**File Stem:** 0000910472-26-008217
**Filing Date:** 2026-5
**Character Count:** 118556
**Document Hash:** 263b4545cfd542107dd19ee2aebd1009
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-008217.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0000910472-26-008217

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20260630

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09911
- **FILM NUMBER:** 261039374

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

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

## Series and Classes Contracts Data

### Hussman Strategic Total Return Fund (Series ID: S000001545)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000004199 | Hussman Strategic Total Return Fund | HSTRX           |

## Nport-Ex

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

ADR - American Depositary Receipt.

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

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

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

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

---

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

---

---

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

---

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

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

ADR - American Depositary Receipt.

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

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

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

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

---

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

---

---

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

---

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

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

ADR - American Depositary Receipt.

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

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

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

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Ellicott City

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 21043

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

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

- **a. Name of Series:** HUSSMAN STRATEGIC TOTAL RETURN FUND

- **b. EDGAR series identifier (if any):** S000001545

- **c. LEI of Series:** 549300517SONMHW30957

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $272606450.34

**Total Liabilities:** $1232193.76

**Net Assets:** $271374256.58

**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 C000004199 | 1.42%                | 0.71%                | -3.17%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $9535373.37              | $-1835291.43                               |
| Month 2  | $1570506.08              | $4078163.79                                |
| Month 3  | $-1194956.36             | $-4459490.35                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AES Corp.                                           | AES Corporation (The)                                          | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EC               | CORP              | US        |      1000 | NS      | $14090.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd                              | Agnico Eagle Mines Ltd.                                        | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |      4000 | NS      | $811920.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold Inc.                                    | Alamos Gold, Inc. CLASS A                                      | CUSIP: 011532108<br>LEI: 894500GIHFJZW7YS9660 | Long             | EC               | CORP              | CA        |      8000 | NS      | $355440.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp.                                        | Ameren Corporation                                             | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |       100 | NS      | $10992.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co, Inc.                    | American Electric Power Company, Inc.                          | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |       100 | NS      | $13108.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corporation                                  | Avista Corporation                                             | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |      1000 | NS      | $40140.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Mining Corp.                                | Barrick Mining Corporation                                     | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |     20000 | NS      | $815800.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corporation                             | Black Hills Corporation                                        | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |       500 | NS      | $34705.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| B2Gold Corp.                                        | B2Gold Corporation                                             | CUSIP: 11777Q209<br>LEI: 549300F7OK456M5NLM05 | Long             | EC               | CORP              | CA        |    200000 | NS      | $906000.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| California Resources Corporation                    | California Resources Corporation                               | CUSIP: 13057Q305<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | EC               | CORP              | US        |      1000 | NS      | $69220.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Consolidated Edison, Inc.                           | Consolidated Edison, Inc.                                      | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |      1000 | NS      | $113180.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Co.                                      | DTE Energy Company                                             | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |       100 | NS      | $14622.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream Inc                                    | DT Midstream, Inc.                                             | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       500 | NS      | $67335.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc                                 | Dominion Energy, Inc.                                          | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |       500 | NS      | $30910.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                                    | Duke Energy Corporation                                        | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |       500 | NS      | $65470.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Edison International                                | Edison International                                           | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |       500 | NS      | $36590.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corporation                                 | Entergy Corporation                                            | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |      1000 | NS      | $112360.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp.                                        | Exelon Corporation                                             | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |      1000 | NS      | $49020.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp.                                   | FirstEnergy Corporation                                        | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |      1000 | NS      | $50660.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Water Resources Inc.                         | Global Water Resources, Inc.                                   | CUSIP: 379463102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1000 | NS      | $7590.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawaiian Electric Industries, Inc.                  | Hawaiian Electric Industries, Inc.                             | CUSIP: 419870100<br>LEI: JJ8FWOCWCV22X7GUPJ23 | Long             | EC               | CORP              | US        |      1000 | NS      | $14840.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Hecla Mining Company                                | Hecla Mining Company                                           | CUSIP: 422704106<br>LEI: 5493009Y6HOBZD1QD537 | Long             | EC               | CORP              | US        |      4000 | NS      | $74520.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Crescent Energy Co.                                 | Crescent Energy Company Class A common stock                   | CUSIP: 44952J104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1906 | NS      | $25731.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco CurrencyShares Euro Trust                   | Invesco CurrencyShares Euro Currency Trust                     | CUSIP: 46138K103<br>LEI: 5493004SOGY6TXWBH573 | Long             | EC               | RF                | US        |      7500 | NS      | $800175.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Currencyshares British Pound Sterling Trust | Invesco CurrencyShares British Pound Sterling Trust            | CUSIP: 46138M109<br>LEI: N/A                  | Long             | EC               | RF                | US        |      5000 | NS      | $636750.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco CurrencyShares Japanese Yen Trust           | Invesco CurrencyShares Japanese Yen Trust                      | CUSIP: 46138W107<br>LEI: N/A                  | Long             | EC               | RF                | US        |     12500 | NS      | $723500.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinross Gold Corp.                                  | Kinross Gold Corporation                                       | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |      8000 | NS      | $244160.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy, Inc.                                    | NRG Energy, Inc.                                               | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |      1000 | NS      | $146140.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corporation                                 | Newmont Corporation                                            | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |      8000 | NS      | $866000.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| NorthWestern Energy Group Inc                       | Northwestern Energy Group, Inc.                                | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |      1000 | NS      | $65940.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Otter Tail Corporation                              | Otter Tail Corporation                                         | CUSIP: 689648103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1000 | NS      | $87770.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corporation                                     | PPL Corporation                                                | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |      1000 | NS      | $38200.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp.                           | Pan American Silver Corporation                                | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |      8000 | NS      | $437040.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle West Capital Corp.                         | Pinnacle West Capital Corporation                              | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |      1000 | NS      | $100750.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Company                   | Portland General Electric Company                              | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |      1000 | NS      | $52770.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Service Enterprise Group Incorporated        | Public Service Enterprise Group, Inc.                          | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |       500 | NS      | $40475.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Gold, Inc.                                    | Royal Gold, Inc.                                               | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |      2000 | NS      | $508980.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| SSR Mining Inc                                      | SSR Mining, Inc.                                               | CUSIP: 784730103<br>LEI: 549300JD2KR7AB9DYJ38 | Long             | EC               | CORP              | US        |     20000 | NS      | $588000.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Short-Term Invts T                                  | Invesco Treasury Portfolio Institutional Class                 | CUSIP: 825252406<br>LEI: 549300UJV6OHYATSFU27 | Long             | STIV             | RF                | US        |  45083953 | NS      | $45083953.23  | 16.61%            |  |  |  | No            |                  1 | On Loan: No      |
| Sibanye-Stillwater Limited                          | Sibanye-Stillwater Ltd. ADR                                    | CUSIP: 82575P107<br>LEI: 378900F238434B74D281 | Long             | EC               | CORP              | ZA        |     20000 | NS      | $246400.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co.                                        | Southern Company (The)                                         | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |       500 | NS      | $48260.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills                        | U.S. Treasury Bill 0.00%, Due 11/27/2026                       | CUSIP: 912797SU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  30000000 | PA      | $29294960.10  | 10.80%            | 2026-11-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                        | U.S. Treasury Inflation-Protected Notes 2.50%, Due 01/15/2029  | CUSIP: 912810PZ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15147400 | PA      | $15718090.56  | 5.79%             | 2029-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                        | U.S. Treasury Inflation-Protected Notes 2.125%, Due 02/15/2054 | CUSIP: 912810TY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5000000 | PA      | $4695367.77   | 1.73%             | 2054-02-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                        | U.S. Treasury Notes 1.500%, Due 08/15/2026                     | CUSIP: 9128282A7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9915598.10   | 3.65%             | 2026-08-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                        | U.S. Treasury Notes 2.125%, Due 05/31/2026                     | CUSIP: 9128286X3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9972708.20   | 3.67%             | 2026-05-31      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                        | U.S. Treasury Notes 0.125%, Due 1/15/2030                      | CUSIP: 912828Z37<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  12640300 | PA      | $12102753.29  | 4.46%             | 2030-01-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                        | U.S. Treasury Inflation-Protected Notes 1.75%, Due 01/15/2034  | CUSIP: 91282CJY8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5000000 | PA      | $5278675.30   | 1.95%             | 2034-01-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                        | U.S. Treasury Inflation Indexed Bonds 1.875%, Due 07/15/2035   | CUSIP: 91282CNS6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  65833300 | PA      | $65580187.42  | 24.17%            | 2035-07-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                        | U.S. Treasury Notes 3.375%, Due 02/29/2028                     | CUSIP: 91282CQB0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  35000000 | PA      | $34723828.30  | 12.80%            | 2028-02-29      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                        | U.S. Treasury Notes 3.50%, Due 02/29/2031                      | CUSIP: 91282CQD6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  30000000 | PA      | $29423437.50  | 10.84%            | 2031-02-28      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | Nabors Industries Ltd. $166.6667 - Warrants                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      8000 | NS      | $3104.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglogold Ashanti PLC                               | Anglogold Ashanti plc                                          | CUSIP: G0378L100<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |      4000 | NS      | $389440.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Aura Minerals Inc (Vg)                              | Aura Minerals, Inc.                                            | CUSIP: G06973112<br>LEI: 549300YIRI8PSDM2FV20 | Long             | EC               | CORP              | US        |      2000 | NS      | $163200.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** Hussman Investment Trust

**Signature:** Hussman Investment Trust

**Name of Signer:** Brian Johnston

**Title:** AVP, Fund Acccounting