# EDGAR Filing Document

**Accession Number:** 0001576367
**File Stem:** 0001576367-26-000023
**Filing Date:** 2026-2
**Character Count:** 92988
**Document Hash:** 3db015cef2d1ae0976a3bb8a2246e98f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001576367-26-000023.hdr.sgml**: 20260223

**ACCESSION NUMBER**: 0001576367-26-000023

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260223

**DATE AS OF CHANGE**: 20260223

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FORUM FUNDS II
- **CENTRAL INDEX KEY:** 0001576367

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22842
- **FILM NUMBER:** 26664821

**BUSINESS ADDRESS:**
- **STREET 1:** THREE CANAL PLAZA, SUITE 600
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04101
- **BUSINESS PHONE:** 207-347-2000

**MAIL ADDRESS:**
- **STREET 1:** THREE CANAL PLAZA, SUITE 600
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04101

## Series and Classes Contracts Data

### Acuitas US Microcap Fund (Series ID: S000045890)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000142990 | Institutional Shares | AFMCX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** FORUM FUNDS II

- **b. Investment Company Act file number:** 811-22842

- **c. CIK number of Registrant:** 0001576367

- **d. LEI of Registrant:** 254900TLXB82MZSZFI87

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

  - **Street Address 1:** 190 Middle Street, Suite 101

  - **City:** PORTLAND

  - **State:** ME

  - **Foreign country:** US

  - **Zip / Postal Code:** 04101

  - **Telephone number:** 207-347-2000

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

- **a. Name of Series:** ACUITAS US MICROCAP FUND

- **b. EDGAR series identifier (if any):** S000045890

- **c. LEI of Series:** 254900JG5HV58OHLQ996

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

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

- **b. Date as of which information is reported:** 2025-12-31

**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:** $103183202.53

**Total Liabilities:** $155313.87

**Net Assets:** $103027888.66

**Cash Not Reported:** $305367.88

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000142990 | 2.16%                | -0.90%               | 3.01%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1681722.33              | $380301.78                                 |
| Month 2  | $-660.29                 | $-956015.12                                |
| Month 3  | $1938267.62              | $1336945.48                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ADMA Biologics Inc                         | ADMA Biologics, Inc.                           | CUSIP: 000899104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5931 | NS      | $108181.44    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| A10 Networks Inc                           | A10 Networks, Inc.                             | CUSIP: 002121101<br>LEI: 549300UQD4IWUML81Q35 | Long             | EC               | CORP              | US        |     29217 | NS      | $516848.73    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| AXT Inc                                    | AXT, Inc.                                      | CUSIP: 00246W103<br>LEI: 549300M2142IVLVIJN37 | Long             | EC               | CORP              | US        |     16194 | NS      | $264771.90    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Aclaris Therapeutics Inc                   | Aclaris Therapeutics, Inc.                     | CUSIP: 00461U105<br>LEI: 5493000B2LQ9QTW1DF52 | Long             | EC               | CORP              | US        |     35654 | NS      | $107318.54    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Acme United Corp                           | Acme United Corp.                              | CUSIP: 004816104<br>LEI: 549300NVT8NN13WP8M83 | Long             | EC               | CORP              | US        |      7335 | NS      | $295673.85    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ADTRAN Holdings Inc                        | ADTRAN Holdings, Inc.                          | CUSIP: 00486H105<br>LEI: 549300VV36J86CRRWF77 | Long             | EC               | CORP              | US        |    145002 | NS      | $1260067.38   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Adaptive Biotechnologies Corp              | Adaptive Biotechnologies Corp.                 | CUSIP: 00650F109<br>LEI: 549300ZTF7OT1FW66Q96 | Long             | EC               | CORP              | US        |     15543 | NS      | $252418.32    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Addus HomeCare Corp                        | Addus HomeCare Corp.                           | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |      3409 | NS      | $366092.51    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Agenus Inc                                 | Agenus, Inc.                                   | CUSIP: 00847G804<br>LEI: 529900NDQQGU5H4UJK81 | Long             | EC               | CORP              | US        |     18635 | NS      | $58513.90     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegiant Travel Co                        | Allegiant Travel Co.                           | CUSIP: 01748X102<br>LEI: 549300JM9OZXOHWL2K18 | Long             | EC               | CORP              | US        |      3700 | NS      | $315499.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Allient Inc                                | Allient, Inc.                                  | CUSIP: 019330109<br>LEI: 549300I2LHAWYGNBPM97 | Long             | EC               | CORP              | US        |     16759 | NS      | $900796.25    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpine Banks of Colorado                   | Alpine Banks of Colorado                       | CUSIP: 020810107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6752 | NS      | $268729.60    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| American Superconductor Corp               | American Superconductor Corp.                  | CUSIP: 030111207<br>LEI: 549300S9YT8Z8LOK4452 | Long             | EC               | CORP              | US        |      7482 | NS      | $215331.96    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Amplitude Inc                              | Amplitude, Inc.                                | CUSIP: 03213A104<br>LEI: 984500EZ87C703978858 | Long             | EC               | CORP              | US        |     72997 | NS      | $845305.26    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Amprius Technologies Inc                   | Amprius Technologies, Inc.                     | CUSIP: 03214Q108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20642 | NS      | $162865.38    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| AnaptysBio Inc                             | AnaptysBio, Inc.                               | CUSIP: 032724106<br>LEI: 529900HH4WQT03IG1A12 | Long             | EC               | CORP              | US        |      4300 | NS      | $208464.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Apartment Investment and Manag             | Apartment Investment and Management Co.        | CUSIP: 03748R747<br>LEI: 549300O8FT5GJ4RU1D57 | Long             | EC               | CORP              | US        |     71680 | NS      | $425779.20    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Digital Corp                       | Applied Digital Corp.                          | CUSIP: 038169207<br>LEI: 2549004NE2B6RYXINZ02 | Long             | EC               | CORP              | US        |      7855 | NS      | $192604.60    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer Aviation Inc                        | Archer Aviation, Inc.                          | CUSIP: 03945R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     49260 | NS      | $370435.20    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Arhaus Inc                                 | Arhaus, Inc.                                   | CUSIP: 04035M102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59196 | NS      | $663587.16    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Arlo Technologies Inc                      | Arlo Technologies, Inc.                        | CUSIP: 04206A101<br>LEI: 549300T4EUX2OQ75HV52 | Long             | EC               | CORP              | US        |     30500 | NS      | $426695.00    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Arteris Inc                                | Arteris, Inc.                                  | CUSIP: 04302A104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24217 | NS      | $375363.50    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| AstroNova Inc                              | AstroNova, Inc.                                | CUSIP: 04638F108<br>LEI: 549300D8PFP62QX00223 | Long             | EC               | CORP              | US        |     45185 | NS      | $390850.25    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Astronics Corp                             | Astronics Corp.                                | CUSIP: 046433108<br>LEI: 549300NNXCF8H4MSMK17 | Long             | EC               | CORP              | US        |      3534 | NS      | $191684.16    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Asure Software Inc                         | Asure Software, Inc.                           | CUSIP: 04649U102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32237 | NS      | $303672.54    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlanticus Holdings Corp                   | Atlanticus Holdings Corp.                      | CUSIP: 04914Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2241 | NS      | $150034.95    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Avanos Medical Inc                         | Avanos Medical, Inc.                           | CUSIP: 05350V106<br>LEI: 549300YCXWOM7NEWMQ58 | Long             | EC               | CORP              | US        |     44059 | NS      | $494782.57    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Aviat Networks Inc                         | Aviat Networks, Inc.                           | CUSIP: 05366Y201<br>LEI: 549300Z3X8Z4MK52CI65 | Long             | EC               | CORP              | US        |     42275 | NS      | $903839.50    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| BGSF Inc                                   | BGSF, Inc.                                     | CUSIP: 05601C105<br>LEI: 549300AUC6I9ZG3KKQ91 | Long             | EC               | CORP              | US        |     42915 | NS      | $198696.45    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Backblaze Inc                              | Backblaze, Inc.                                | CUSIP: 05637B105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14025 | NS      | $65356.50     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank First Corp                            | Bank First Corp.                               | CUSIP: 06211J100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1568 | NS      | $191013.76    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Marin Bancorp                      | Bank of Marin Bancorp                          | CUSIP: 063425102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15320 | NS      | $398473.20    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Bankwell Financial Group Inc               | Bankwell Financial Group, Inc.                 | CUSIP: 06654A103<br>LEI: 5493004NUBQXPY84NX67 | Long             | EC               | CORP              | US        |      9871 | NS      | $452289.22    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrett Business Services Inc              | Barrett Business Services, Inc.                | CUSIP: 068463108<br>LEI: 529900HXB6TMG0SR9Y34 | Long             | EC               | CORP              | US        |     25366 | NS      | $918502.86    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Bel Fuse Inc                               | Bel Fuse, Inc.                                 | CUSIP: 077347300<br>LEI: 2549009L4XYDBRRY6X39 | Long             | EC               | CORP              | US        |      1750 | NS      | $296852.50    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Beta Bionics Inc                           | Beta Bionics, Inc.                             | CUSIP: 08659B102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10000 | NS      | $304700.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| BioLife Solutions Inc                      | BioLife Solutions, Inc.                        | CUSIP: 09062W204<br>LEI: 549300G2IVCMC2TJDW72 | Long             | EC               | CORP              | US        |     22593 | NS      | $546298.74    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Bioventus Inc                              | Bioventus, Inc.                                | CUSIP: 09075A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22665 | NS      | $168627.60    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Blaze Holdings Inc                         | Blaze Holdings, Inc.                           | CUSIP: 092915107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29287 | NS      | $57109.65     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BlueLinx Holdings Inc                      | BlueLinx Holdings, Inc.                        | CUSIP: 09624H208<br>LEI: 549300YSX7GU28F5I540 | Long             | EC               | CORP              | US        |      5917 | NS      | $363481.31    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Azenta Inc                                 | Azenta, Inc.                                   | CUSIP: 114340102<br>LEI: 35ZN6X1ANPH25YN32Y17 | Long             | EC               | CORP              | US        |     26796 | NS      | $891234.96    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Build-A-Bear Workshop Inc                  | Build-A-Bear Workshop, Inc.                    | CUSIP: 120076104<br>LEI: 529900S9MWZC1UBF3D13 | Long             | EC               | CORP              | US        |     10566 | NS      | $647378.82    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Business First Bancshares Inc              | Business First Bancshares, Inc.                | CUSIP: 12326C105<br>LEI: 549300ILTC50KHDX4A08 | Long             | EC               | CORP              | US        |      6058 | NS      | $158356.12    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CECO Environmental Corp                    | CECO Environmental Corp.                       | CUSIP: 125141101<br>LEI: 5493002CZCTL4HGLIY91 | Long             | EC               | CORP              | US        |      6532 | NS      | $390940.20    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| CRA International Inc                      | CRA International, Inc.                        | CUSIP: 12618T105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3832 | NS      | $769063.24    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Capitol Federal Financial Inc              | Capitol Federal Financial, Inc.                | CUSIP: 14057J101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27796 | NS      | $189290.76    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CareDx Inc                                 | CareDx, Inc.                                   | CUSIP: 14167L103<br>LEI: 549300NQOFKL9NON0U06 | Long             | EC               | CORP              | US        |      9245 | NS      | $174175.80    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Celucity Inc.                              | Celcuity, Inc.                                 | CUSIP: 15102K100<br>LEI: 25490070W7UU7W2SEY87 | Long             | EC               | CORP              | US        |      2300 | NS      | $229402.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Pacific Financial Corp             | Central Pacific Financial Corp.                | CUSIP: 154760409<br>LEI: 549300W3YEAOZ4KGG849 | Long             | EC               | CORP              | US        |      6827 | NS      | $212729.32    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Centrus Energy Corp                        | Centrus Energy Corp.                           | CUSIP: 15643U104<br>LEI: 549300G6VDK9G8276661 | Long             | EC               | CORP              | US        |      2310 | NS      | $560775.60    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Cerence, Inc.                              | Cerence, Inc.                                  | CUSIP: 156727109<br>LEI: 5493002WL2W5WMS89568 | Long             | EC               | CORP              | US        |     10325 | NS      | $110374.25    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CEVA Inc                                   | CEVA, Inc.                                     | CUSIP: 157210105<br>LEI: 529900G9T7CVU2J2VU73 | Long             | EC               | CORP              | US        |     19235 | NS      | $413937.20    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Niagen Bioscience Inc                      | Niagen Bioscience, Inc.                        | CUSIP: 171077407<br>LEI: 529900OPI7B8JPXCVS70 | Long             | EC               | CORP              | US        |    121578 | NS      | $773236.08    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Cipher Mining Inc                          | Cipher Mining, Inc.                            | CUSIP: 17253J106<br>LEI: 254900QABG5HCQZ28A17 | Long             | EC               | CORP              | US        |      6653 | NS      | $98198.28     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Civitas Resources Inc                      | Civitas Resources, Inc.                        | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |     12100 | NS      | $327789.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Cogent Communications Holdings             | Cogent Communications Holdings, Inc.           | CUSIP: 19239V302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19002 | NS      | $409683.12    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Cogent Biosciences Inc                     | Cogent Biosciences, Inc.                       | CUSIP: 19240Q201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10574 | NS      | $375588.48    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Cohu Inc                                   | Cohu, Inc.                                     | CUSIP: 192576106<br>LEI: 529900FJPORJ3JJ2XS33 | Long             | EC               | CORP              | US        |     32779 | NS      | $762767.33    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Trust Bancorp Inc                | Community Trust Bancorp, Inc.                  | CUSIP: 204149108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4650 | NS      | $262725.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Concrete Pumping Holdings Inc              | Concrete Pumping Holdings, Inc.                | CUSIP: 206704108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     65128 | NS      | $437008.88    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ConnectOne Bancorp Inc                     | ConnectOne Bancorp, Inc.                       | CUSIP: 20786W107<br>LEI: 549300E2M5ZYAZKUK134 | Long             | EC               | CORP              | US        |      8053 | NS      | $211149.66    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Consensus Cloud Solutions Inc              | Consensus Cloud Solutions, Inc.                | CUSIP: 20848V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17143 | NS      | $374060.26    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Molding Technologies Inc              | Core Molding Technologies, Inc.                | CUSIP: 218683100<br>LEI: 549300ZY2MFRXCKVIJ28 | Long             | EC               | CORP              | US        |     60529 | NS      | $1213606.45   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Cormedix Inc                               | Cormedix, Inc.                                 | CUSIP: 21900C308<br>LEI: 5299006YIA3L0MBW8358 | Long             | EC               | CORP              | US        |     13231 | NS      | $153876.53    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Corvus Pharmaceuticals Inc                 | Corvus Pharmaceuticals, Inc.                   | CUSIP: 221015100<br>LEI: 549300I3AVJ8F75NCX65 | Long             | EC               | CORP              | US        |     15965 | NS      | $122930.50    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Cronos Group Inc                           | Cronos Group, Inc.                             | CUSIP: 22717L101<br>LEI: 549300CWB04E8UOTWX71 | Long             | EC               | CORP              | CA        |     39458 | NS      | $103774.54    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Crafts Inc                           | Crown Crafts, Inc.                             | CUSIP: 228309100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35812 | NS      | $99199.24     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Cryoport, Inc.                             | Cryoport, Inc.                                 | CUSIP: 229050307<br>LEI: 9845004D8538BT8JF626 | Long             | EC               | CORP              | US        |     98070 | NS      | $941472.00    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Customers Bancorp Inc                      | Customers Bancorp, Inc.                        | CUSIP: 23204G100<br>LEI: 549300WLBCHYKZ53FN68 | Long             | EC               | CORP              | US        |     18150 | NS      | $1327128.00   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| CytomX Therapeutics Inc                    | CytomX Therapeutics, Inc.                      | CUSIP: 23284F105<br>LEI: 5493004VW2FW0QLL3345 | Long             | EC               | CORP              | US        |     36472 | NS      | $155370.72    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| DHI Group Inc                              | DHI Group, Inc.                                | CUSIP: 23331S100<br>LEI: 529900489RAC0CU0AO81 | Long             | EC               | CORP              | US        |    189600 | NS      | $293880.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Dave Inc                                   | Dave, Inc.                                     | CUSIP: 23834J201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2178 | NS      | $482230.98    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Design Therapeutics Inc                    | Design Therapeutics, Inc.                      | CUSIP: 25056L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14478 | NS      | $135803.64    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Turbine Inc                        | Digital Turbine, Inc.                          | CUSIP: 25400W102<br>LEI: 549300D0WZR1VI2QGB24 | Long             | EC               | CORP              | US        |     84176 | NS      | $420880.00    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Donnelley Financial Solutions              | Donnelley Financial Solutions, Inc.            | CUSIP: 25787G100<br>LEI: 549300O1NPY4J56QCU04 | Long             | EC               | CORP              | US        |     10264 | NS      | $479226.16    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Ducommun Inc                               | Ducommun, Inc.                                 | CUSIP: 264147109<br>LEI: 549300Z71HMWF90S2214 | Long             | EC               | CORP              | US        |     25024 | NS      | $2380533.12   | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Duluth Holdings Inc                        | Duluth Holdings, Inc.                          | CUSIP: 26443V101<br>LEI: 549300B6G8G3WGHFYU15 | Long             | EC               | CORP              | US        |     48165 | NS      | $100183.20    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| El Pollo Loco Holdings Inc                 | El Pollo Loco Holdings, Inc.                   | CUSIP: 268603107<br>LEI: 549300EZCBNF4G707K90 | Long             | EC               | CORP              | US        |     54800 | NS      | $573208.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Edgewise Therapeutics Inc                  | Edgewise Therapeutics, Inc.                    | CUSIP: 28036F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4138 | NS      | $102684.47    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| eHealth Inc                                | eHealth, Inc.                                  | CUSIP: 28238P109<br>LEI: 5299003O8Y5OKXUZQ421 | Long             | EC               | CORP              | US        |     27654 | NS      | $127208.40    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Electromed Inc                             | Electromed, Inc.                               | CUSIP: 285409108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18506 | NS      | $538894.72    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Embecta Corp                               | Embecta Corp.                                  | CUSIP: 29082K105<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | EC               | CORP              | US        |     16618 | NS      | $197421.84    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Fuels Inc/Canada                    | Energy Fuels, Inc./Canada                      | CUSIP: 292671708<br>LEI: 529900P0GCATXMGK8I62 | Long             | EC               | CORP              | CA        |      8463 | NS      | $123052.02    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Recovery Inc                        | Energy Recovery, Inc.                          | CUSIP: 29270J100<br>LEI: 549300ZEQL52Z525WJ22 | Long             | EC               | CORP              | US        |     17778 | NS      | $239825.22    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Enova International Inc                    | Enova International, Inc.                      | CUSIP: 29357K103<br>LEI: 549300O8XOCQSB49UO63 | Long             | EC               | CORP              | US        |      6400 | NS      | $1006080.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Enovix Corp                                | Enovix Corp.                                   | CUSIP: 293594107<br>LEI: 549300EC7NZGWORHYJ53 | Long             | EC               | CORP              | US        |     22106 | NS      | $161594.86    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Eton Pharmaceuticals Inc                   | Eton Pharmaceuticals, Inc.                     | CUSIP: 29772L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17350 | NS      | $293388.50    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolv Technologies Holdings In             | Evolv Technologies Holdings, Inc.              | CUSIP: 30049H102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29921 | NS      | $214234.36    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| EyePoint Inc                               | EyePoint, Inc.                                 | CUSIP: 30233G209<br>LEI: 549300QE1RU34T50MR69 | Long             | EC               | CORP              | US        |      9200 | NS      | $168084.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obligations Fund | First American Government Obligations Fund     | CUSIP: 31846V336<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1648208 | NS      | $1648208.31   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Corp                       | First Financial Corp.                          | CUSIP: 320218100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4453 | NS      | $269050.26    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| First Watch Restaurant Group I             | First Watch Restaurant Group, Inc.             | CUSIP: 33748L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21000 | NS      | $316680.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| First Western Financial Inc                | First Western Financial, Inc.                  | CUSIP: 33751L105<br>LEI: 549300PPOGX4C7S66B47 | Long             | EC               | CORP              | US        |     37231 | NS      | $998163.11    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Star Bancorp                          | Five Star Bancorp                              | CUSIP: 33830T103<br>LEI: 5493008ZRBIHKWC0JA73 | Long             | EC               | CORP              | US        |      4967 | NS      | $177719.26    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Flotek Industries Inc                      | Flotek Industries, Inc.                        | CUSIP: 343389409<br>LEI: 549300TF60OEK4FPPC44 | Long             | EC               | CORP              | US        |      8416 | NS      | $145007.68    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluent Inc                                 | Fluent, Inc.                                   | CUSIP: 34380C201<br>LEI: 549300P3G8O165ICY429 | Long             | EC               | CORP              | US        |     74910 | NS      | $179784.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Forrester Research Inc                     | Forrester Research, Inc.                       | CUSIP: 346563109<br>LEI: 549300UUSFXYLJ80Z897 | Long             | EC               | CORP              | US        |     34670 | NS      | $281520.40    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Covey Co                          | Franklin Covey Co.                             | CUSIP: 353469109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14061 | NS      | $235943.58    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Freightcar America Inc                     | Freightcar America, Inc.                       | CUSIP: 357023100<br>LEI: 254900UEML23YM2EQB31 | Long             | EC               | CORP              | US        |     28401 | NS      | $314399.07    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Infrastructure Inc                    | FTAI Infrastructure, Inc.                      | CUSIP: 35953C106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    189272 | NS      | $872543.92    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentherm Inc                               | Gentherm, Inc.                                 | CUSIP: 37253A103<br>LEI: HKM6YX1U5JS60TCUB219 | Long             | EC               | CORP              | US        |      8734 | NS      | $317655.58    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Geospace Technologies Corp                 | Geospace Technologies Corp.                    | CUSIP: 37364X109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55250 | NS      | $934277.50    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Gorman-Rupp Co/The                         | The Gorman-Rupp Co.                            | CUSIP: 383082104<br>LEI: 254900WVLPOIWPGJPA07 | Long             | EC               | CORP              | US        |      2737 | NS      | $130691.75    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Graham Corp                                | Graham Corp.                                   | CUSIP: 384556106<br>LEI: 254900EI9P4LTY524J77 | Long             | EC               | CORP              | US        |     16623 | NS      | $1067695.29   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Great Lakes Dredge & Dock Corp             | Great Lakes Dredge & Dock Corp.                | CUSIP: 390607109<br>LEI: 549300H65E3MZ1CX0P05 | Long             | EC               | CORP              | US        |     23979 | NS      | $314604.48    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanmi Financial Corp                       | Hanmi Financial Corp.                          | CUSIP: 410495204<br>LEI: 549300MSZ7RCG7EA6587 | Long             | EC               | CORP              | US        |      6251 | NS      | $168964.53    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmony Biosciences Holdings I             | Harmony Biosciences Holdings, Inc.             | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18750 | NS      | $701625.00    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Enviri Corp                                | Enviri Corp.                                   | CUSIP: 415864107<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | EC               | CORP              | US        |     46323 | NS      | $830108.16    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Harvard Bioscience Inc                     | Harvard Bioscience, Inc.                       | CUSIP: 416906105<br>LEI: 549300VLGB1D47GGC642 | Long             | EC               | CORP              | US        |     87726 | NS      | $58671.15     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Services Group Inc              | Healthcare Services Group, Inc.                | CUSIP: 421906108<br>LEI: 529900GVZ1D2FBYMS719 | Long             | EC               | CORP              | US        |     10155 | NS      | $194163.60    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthStream Inc                           | HealthStream, Inc.                             | CUSIP: 42222N103<br>LEI: 529900OJ88H8635JNH64 | Long             | EC               | CORP              | US        |      9481 | NS      | $218726.67    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Heritage Commerce Corp                     | Heritage Commerce Corp.                        | CUSIP: 426927109<br>LEI: 549300CLIS851ELSR406 | Long             | EC               | CORP              | US        |     25923 | NS      | $311335.23    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Heritage Financial Corp/WA                 | Heritage Financial Corp./WA                    | CUSIP: 42722X106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6398 | NS      | $151312.70    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Heritage Insurance Holdings In             | Heritage Insurance Holdings, Inc.              | CUSIP: 42727J102<br>LEI: 9845008CCYDD87F66B45 | Long             | EC               | CORP              | US        |     12572 | NS      | $367856.72    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Hurco Cos Inc                              | Hurco Cos., Inc.                               | CUSIP: 447324104<br>LEI: XSC5XDOTBYOBQPOG2O82 | Long             | EC               | CORP              | US        |     15945 | NS      | $246350.25    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Immunome Inc                               | Immunome, Inc.                                 | CUSIP: 45257U108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15913 | NS      | $341811.24    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| indie Semiconductor Inc                    | indie Semiconductor, Inc.                      | CUSIP: 45569U101<br>LEI: 254900L1MFXFYGB1PV53 | Long             | EC               | CORP              | US        |    152124 | NS      | $536997.72    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Information Services Group Inc             | Information Services Group, Inc.               | CUSIP: 45675Y104<br>LEI: 549300ZUNI6DQ0G8Q273 | Long             | EC               | CORP              | US        |     30595 | NS      | $176839.10    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| InfuSystem Holdings Inc                    | InfuSystem Holdings, Inc.                      | CUSIP: 45685K102<br>LEI: 549300F58N8PHJ4QUI59 | Long             | EC               | CORP              | US        |     35353 | NS      | $317116.41    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovex International Inc                  | Innovex International, Inc.                    | CUSIP: 457651107<br>LEI: 5299007REICYIJNMW197 | Long             | EC               | CORP              | US        |     21835 | NS      | $477531.45    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Insteel Industries Inc                     | Insteel Industries, Inc.                       | CUSIP: 45774W108<br>LEI: 52990026LKY4MOX3L174 | Long             | EC               | CORP              | US        |     14202 | NS      | $449777.34    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Interface Inc                              | Interface, Inc.                                | CUSIP: 458665304<br>LEI: 549300VXZWQOIDFPU355 | Long             | EC               | CORP              | US        |     20395 | NS      | $569428.40    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| inTEST Corp                                | inTEST Corp.                                   | CUSIP: 461147100<br>LEI: 549300RJJBPHDOAVDU15 | Long             | EC               | CORP              | US        |     55298 | NS      | $413076.06    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Investors Title Co                         | Investors Title Co.                            | CUSIP: 461804106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1444 | NS      | $360480.16    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| iRadimed Corp                              | iRadimed Corp.                                 | CUSIP: 46266A109<br>LEI: 549300YVHWP0YJ1YW816 | Long             | EC               | CORP              | US        |     17306 | NS      | $1683527.68   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Ironwood Pharmaceuticals Inc               | Ironwood Pharmaceuticals, Inc.                 | CUSIP: 46333X108<br>LEI: 549300PC8MR6QHH6P296 | Long             | EC               | CORP              | US        |     43319 | NS      | $145985.03    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Dakota Gold Corp                           | Dakota Gold Corp.                              | CUSIP: 46655E100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36969 | NS      | $209983.92    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus International Group Inc              | Janus International Group, Inc.                | CUSIP: 47103N106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23172 | NS      | $151544.88    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Joint Corp/The                             | The Joint Corp.                                | CUSIP: 47973J102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24230 | NS      | $211285.60    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaiser Aluminum Corp                       | Kaiser Aluminum Corp.                          | CUSIP: 483007704<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2113 | NS      | $242699.18    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Key Tronic Corp                            | Key Tronic Corp.                               | CUSIP: 493144109<br>LEI: 40TF3VPKEM3IMMIU0O47 | Long             | EC               | CORP              | US        |     52100 | NS      | $145359.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Kura Sushi USA Inc                         | Kura Sushi USA, Inc.                           | CUSIP: 501270102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17675 | NS      | $924932.75    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Lands' End Inc                             | Lands' End, Inc.                               | CUSIP: 51509F105<br>LEI: 54930016WOL7P2P67Q43 | Long             | EC               | CORP              | US        |     15219 | NS      | $220979.88    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| LeMaitre Vascular Inc                      | LeMaitre Vascular, Inc.                        | CUSIP: 525558201<br>LEI: 549300FZUBUB7MHY8R17 | Long             | EC               | CORP              | US        |      4226 | NS      | $342728.60    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| LendingTree Inc                            | LendingTree, Inc.                              | CUSIP: 52603B107<br>LEI: 549300ISY5YHUJZTON08 | Long             | EC               | CORP              | US        |      4445 | NS      | $235985.05    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| LENZ Therapeutics Inc                      | LENZ Therapeutics, Inc.                        | CUSIP: 52635N103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4400 | NS      | $70400.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| LightPath Technologies Inc                 | LightPath Technologies, Inc.                   | CUSIP: 532257805<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15500 | NS      | $167400.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Liquidity Services Inc                     | Liquidity Services, Inc.                       | CUSIP: 53635B107<br>LEI: 5299002AZ4ULSAXN0G81 | Long             | EC               | CORP              | US        |      8600 | NS      | $260666.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Liquidia Corp                              | Liquidia Corp.                                 | CUSIP: 53635D202<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4858 | NS      | $167552.42    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| MGP Ingredients Inc                        | MGP Ingredients, Inc.                          | CUSIP: 55303J106<br>LEI: 2549006OMHFVZ4MS8538 | Long             | EC               | CORP              | US        |     17400 | NS      | $422820.00    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| MVB Financial Corp                         | MVB Financial Corp.                            | CUSIP: 553810102<br>LEI: 549300KSUQ2FUU1X2O74 | Long             | EC               | CORP              | US        |      8100 | NS      | $209223.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnite Inc                                | Magnite, Inc.                                  | CUSIP: 55955D100<br>LEI: 54930018FR2YX1HHSB02 | Long             | EC               | CORP              | US        |     59429 | NS      | $964532.67    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Malibu Boats Inc                           | Malibu Boats, Inc.                             | CUSIP: 56117J100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11371 | NS      | $320775.91    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Mama's Creations Inc                       | Mama's Creations, Inc.                         | CUSIP: 56146T103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     51380 | NS      | $693116.20    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Materion Corp                              | Materion Corp.                                 | CUSIP: 576690101<br>LEI: 549300CJ5RI351SUYT02 | Long             | EC               | CORP              | US        |      4751 | NS      | $590644.32    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Matrix Service Co                          | Matrix Service Co.                             | CUSIP: 576853105<br>LEI: 529900VYBKSX6HD2YW58 | Long             | EC               | CORP              | US        |     20500 | NS      | $239850.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Mayville Engineering Co Inc                | Mayville Engineering Co., Inc.                 | CUSIP: 578605107<br>LEI: 9845008D43E42A7FC362 | Long             | EC               | CORP              | US        |     18906 | NS      | $353920.32    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Medallion Financial Corp                   | Medallion Financial Corp.                      | CUSIP: 583928106<br>LEI: 549300FJ4FMGJ2C34Y48 | Long             | EC               | CORP              | US        |     60575 | NS      | $623316.75    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Pediatrix Medical Group Inc                | Pediatrix Medical Group, Inc.                  | CUSIP: 58502B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20134 | NS      | $430666.26    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercantile Bank Corp                       | Mercantile Bank Corp.                          | CUSIP: 587376104<br>LEI: P16VZZCKTJ5IONL6XE37 | Long             | EC               | CORP              | US        |      4196 | NS      | $201827.60    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Mesa Laboratories Inc                      | Mesa Laboratories, Inc.                        | CUSIP: 59064R109<br>LEI: 549300ZCG738WLX8ZW79 | Long             | EC               | CORP              | US        |     14243 | NS      | $1118075.50   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Metalla Royalty & Streaming Lt             | Metalla Royalty & Streaming, Ltd.              | CUSIP: 59124U605<br>LEI: 549300RPR0O774QEKV20 | Long             | EC               | CORP              | CA        |     29914 | NS      | $232730.92    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| MiMedx Group Inc                           | MiMedx Group, Inc.                             | CUSIP: 602496101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     95451 | NS      | $646203.27    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Mineralys Therapeutics Inc                 | Mineralys Therapeutics, Inc.                   | CUSIP: 603170101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3287 | NS      | $119285.23    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitek Systems Inc                          | Mitek Systems, Inc.                            | CUSIP: 606710200<br>LEI: 549300ABZAQ3R25XG118 | Long             | EC               | CORP              | US        |     13302 | NS      | $140336.10    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Monarch Cement Co/The                      | The Monarch Cement Co.                         | CUSIP: 609031307<br>LEI: 549300ZMPJCNSENB3O72 | Long             | EC               | CORP              | US        |      2052 | NS      | $482220.00    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Montrose Environmental Group I             | Montrose Environmental Group, Inc.             | CUSIP: 615111101<br>LEI: 254900ASI8K3LUB8Q958 | Long             | EC               | CORP              | US        |     13229 | NS      | $328476.07    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Myers Industries Inc                       | Myers Industries, Inc.                         | CUSIP: 628464109<br>LEI: 549300I2H9XMVTCW4Q51 | Long             | EC               | CORP              | US        |     29460 | NS      | $551491.20    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| NVE Corp                                   | NVE Corp.                                      | CUSIP: 629445206<br>LEI: 5299003C1ATTWX8X0112 | Long             | EC               | CORP              | US        |      7217 | NS      | $428184.61    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Napco Security Technologies In             | Napco Security Technologies, Inc.              | CUSIP: 630402105<br>LEI: 529900KV21J4YY9YST76 | Long             | EC               | CORP              | US        |      7635 | NS      | $318379.50    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Natural Gas Services Group Inc             | Natural Gas Services Group, Inc.               | CUSIP: 63886Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4525 | NS      | $152266.25    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| NB Bancorp Inc                             | NB Bancorp, Inc.                               | CUSIP: 63945M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33765 | NS      | $669222.30    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| NPK International Inc                      | NPK International, Inc.                        | CUSIP: 651718504<br>LEI: 54930073OHWDQW4DJN26 | Long             | EC               | CORP              | US        |     73520 | NS      | $876358.40    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| 908 Devices Inc                            | 908 Devices, Inc.                              | CUSIP: 65443P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    129225 | NS      | $678431.25    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| nLight Inc                                 | nLight, Inc.                                   | CUSIP: 65487K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11270 | NS      | $422737.70    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Technologies Internat             | Northern Technologies International Corp.      | CUSIP: 665809109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39795 | NS      | $311594.85    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrim BanCorp Inc                       | Northrim BanCorp, Inc.                         | CUSIP: 666762109<br>LEI: 5493006X7RLLTZ3SG075 | Long             | EC               | CORP              | US        |     11436 | NS      | $304311.96    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| OP Bancorp                                 | OP Bancorp                                     | CUSIP: 67109R109<br>LEI: 549300LTYZMS0Q13U522 | Long             | EC               | CORP              | US        |     13096 | NS      | $184915.52    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Oil-Dri Corp of America                    | Oil-Dri Corp. of America                       | CUSIP: 677864100<br>LEI: 549300RSG5KPUH16WH66 | Long             | EC               | CORP              | US        |      7505 | NS      | $367294.70    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Oil States International Inc               | Oil States International, Inc.                 | CUSIP: 678026105<br>LEI: 5493004TF4KQJGMYL777 | Long             | EC               | CORP              | US        |     24252 | NS      | $164186.04    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Olema Pharmaceuticals Inc                  | Olema Pharmaceuticals, Inc.                    | CUSIP: 68062P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2733 | NS      | $68325.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Ondas Holdings Inc                         | Ondas Holdings, Inc.                           | CUSIP: 68236H204<br>LEI: 549300JWLHDUB82V8607 | Long             | EC               | CORP              | US        |     44074 | NS      | $430162.24    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| OneSpan Inc                                | OneSpan, Inc.                                  | CUSIP: 68287N100<br>LEI: 984500E502E6DC354D26 | Long             | EC               | CORP              | US        |     26656 | NS      | $342263.04    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| OptimizeRx Corp                            | OptimizeRx Corp.                               | CUSIP: 68401U204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10663 | NS      | $130728.38    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Organogenesis Holdings Inc                 | Organogenesis Holdings, Inc.                   | CUSIP: 68621F102<br>LEI: 549300RLC2O821TU6941 | Long             | EC               | CORP              | US        |     20555 | NS      | $106474.90    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Orion Energy Systems Inc                   | Orion Energy Systems, Inc.                     | CUSIP: 686275207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15225 | NS      | $234160.50    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| OrthoPediatrics Corp                       | OrthoPediatrics Corp.                          | CUSIP: 68752L100<br>LEI: 5493000KUTPFGOPAT717 | Long             | EC               | CORP              | US        |     16976 | NS      | $301493.76    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Ouster Inc                                 | Ouster, Inc.                                   | CUSIP: 68989M202<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7674 | NS      | $166065.36    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Owlet Inc                                  | Owlet, Inc.                                    | CUSIP: 69120X206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26579 | NS      | $430314.01    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| PDF Solutions Inc                          | PDF Solutions, Inc.                            | CUSIP: 693282105<br>LEI: 549300GMSP6MROFBI160 | Long             | EC               | CORP              | US        |     12605 | NS      | $359620.65    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| PRA Group Inc                              | PRA Group, Inc.                                | CUSIP: 69354N106<br>LEI: 549300Q5HW3JSSB86K27 | Long             | EC               | CORP              | US        |     10670 | NS      | $188752.30    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacira BioSciences Inc                     | Pacira BioSciences, Inc.                       | CUSIP: 695127100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25320 | NS      | $655281.60    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Aerospace Corp                        | Park Aerospace Corp.                           | CUSIP: 70014A104<br>LEI: 5299004AG0G7IB636095 | Long             | EC               | CORP              | US        |     34240 | NS      | $730681.60    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Penguin Solutions Inc                      | Penguin Solutions, Inc.                        | CUSIP: 706915105<br>LEI: 254900DVWIPOY3GJ8E23 | Long             | EC               | CORP              | US        |      7925 | NS      | $155013.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Pennant Group Inc/The                      | The Pennant Group, Inc.                        | CUSIP: 70805E109<br>LEI: 5493007H2OYR6BYLDA64 | Long             | EC               | CORP              | US        |     17867 | NS      | $502956.05    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Perma-Fix Environmental Servic             | Perma-Fix Environmental Services, Inc.         | CUSIP: 714157203<br>LEI: 54930015OVD1T5P12U15 | Long             | EC               | CORP              | US        |     54358 | NS      | $684367.22    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Perpetua Resources Corp                    | Perpetua Resources Corp.                       | CUSIP: 714266103<br>LEI: 529900BQBMS383SEPY05 | Long             | EC               | CORP              | CA        |      4595 | NS      | $111244.95    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Phibro Animal Health Corp                  | Phibro Animal Health Corp.                     | CUSIP: 71742Q106<br>LEI: 549300U24SP4AF2JUX52 | Long             | EC               | CORP              | US        |      8051 | NS      | $300785.36    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc                             | Photronics, Inc.                               | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |     14076 | NS      | $450432.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Phreesia Inc                               | Phreesia, Inc.                                 | CUSIP: 71944F106<br>LEI: 5493000HHF8NU4QOCG53 | Long             | EC               | CORP              | US        |     34381 | NS      | $581726.52    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Porch Group Inc                            | Porch Group, Inc.                              | CUSIP: 733245104<br>LEI: 549300NXEI7CVW8IXQ90 | Long             | EC               | CORP              | US        |     19000 | NS      | $173470.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Praxis Precision Medicines Inc             | Praxis Precision Medicines, Inc.               | CUSIP: 74006W207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       685 | NS      | $201896.90    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Proficient Auto Logistics Inc              | Proficient Auto Logistics, Inc.                | CUSIP: 74317M104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     95036 | NS      | $916147.04    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Pure Cycle Corp                            | Pure Cycle Corp.                               | CUSIP: 746228303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25470 | NS      | $279915.30    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| RCM Technologies Inc                       | RCM Technologies, Inc.                         | CUSIP: 749360400<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4741 | NS      | $96929.75     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Ranpak Holdings Corp                       | Ranpak Holdings Corp.                          | CUSIP: 75321W103<br>LEI: 5493000Z9EZR9DCYOO86 | Long             | EC               | CORP              | US        |     79956 | NS      | $432561.96    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Regional Management Corp                   | Regional Management Corp.                      | CUSIP: 75902K106<br>LEI: 549300S5O87W87JW4146 | Long             | EC               | CORP              | US        |     19115 | NS      | $740706.25    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| KORU Medical Systems Inc                   | KORU Medical Systems, Inc.                     | CUSIP: 759910102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     56926 | NS      | $330740.06    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Resources Connection Inc                   | Resources Connection, Inc.                     | CUSIP: 76122Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    143450 | NS      | $722988.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Rigel Pharmaceuticals Inc                  | Rigel Pharmaceuticals, Inc.                    | CUSIP: 766559702<br>LEI: 529900KPTNUS5J8K9K66 | Long             | EC               | CORP              | US        |      4930 | NS      | $211151.90    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Water Solutions Inc                 | Select Water Solutions, Inc.                   | CUSIP: 81617J301<br>LEI: 54930094OK8LA3QDW486 | Long             | EC               | CORP              | US        |    115557 | NS      | $1215659.64   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensus Healthcare Inc                      | Sensus Healthcare, Inc.                        | CUSIP: 81728J109<br>LEI: 549300F3JF8NCDJJZW04 | Long             | EC               | CORP              | US        |     11242 | NS      | $44743.16     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoe Carnival Inc                          | Shoe Carnival, Inc.                            | CUSIP: 824889109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29844 | NS      | $503766.72    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Shutterstock Inc                           | Shutterstock, Inc.                             | CUSIP: 825690100<br>LEI: 529900G2TDIS56V0LO22 | Long             | EC               | CORP              | US        |     19260 | NS      | $367866.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| SI-BONE Inc                                | SI-BONE, Inc.                                  | CUSIP: 825704109<br>LEI: 549300J8JGYVJJHV9C31 | Long             | EC               | CORP              | US        |     24132 | NS      | $475883.04    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Silvercrest Asset Management G             | Silvercrest Asset Management Group, Inc.       | CUSIP: 828359109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20927 | NS      | $317881.13    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| ARS Pharmaceuticals Inc                    | ARS Pharmaceuticals, Inc.                      | CUSIP: 82835W108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8303 | NS      | $96729.95     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Simulations Plus Inc                       | Simulations Plus, Inc.                         | CUSIP: 829214105<br>LEI: 529900KYRDJAQ8TJCG93 | Long             | EC               | CORP              | US        |     24385 | NS      | $444538.55    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaris Energy Infrastructure              | Solaris Energy Infrastructure, Inc.            | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |     11847 | NS      | $544606.59    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Soliid Power Inc                           | Soldi Power, Inc.                              | CUSIP: 83422N105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28649 | NS      | $121758.25    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Sportsman's Warehouse Holdings             | Sportsman's Warehouse Holdings, Inc.           | CUSIP: 84920Y106<br>LEI: 549300JVV8YLQSRSF462 | Long             | EC               | CORP              | US        |     62475 | NS      | $91213.50     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Stabilis Solutions Inc                     | Stabilis Solutions, Inc.                       | CUSIP: 85236P101<br>LEI: 549300DGSR537OJW7P62 | Long             | EC               | CORP              | US        |     12090 | NS      | $55009.50     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Motor Products Inc                | Standard Motor Products, Inc.                  | CUSIP: 853666105<br>LEI: THGK1EO5B5HK0JHQVZ90 | Long             | EC               | CORP              | US        |      3391 | NS      | $124958.35    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Stoke Therapeutics Inc                     | Stoke Therapeutics, Inc.                       | CUSIP: 86150R107<br>LEI: 549300RD25SS2DIJHJ67 | Long             | EC               | CORP              | US        |      9897 | NS      | $314130.78    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Country Airlines Holdings              | Sun Country Airlines Holdings, Inc.            | CUSIP: 866683105<br>LEI: 549300MOHOJN9GH0NJ48 | Long             | EC               | CORP              | US        |      5747 | NS      | $82699.33     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SunOpta Inc                                | SunOpta, Inc.                                  | CUSIP: 8676EP108<br>LEI: 54930010CP0KEPPRPA40 | Long             | EC               | CORP              | CA        |     21388 | NS      | $81274.40     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Supernus Pharmaceuticals Inc               | Supernus Pharmaceuticals, Inc.                 | CUSIP: 868459108<br>LEI: 549300GRM36VBKISYJ58 | Long             | EC               | CORP              | US        |      8060 | NS      | $400582.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| SuRo Capital Corp                          | SuRo Capital Corp.                             | CUSIP: 86887Q109<br>LEI: 549300YR4IAV0VJFWN84 | Long             | EC               | CORP              | US        |     21549 | NS      | $203422.56    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Syndax Pharmaceuticals Inc                 | Syndax Pharmaceuticals, Inc.                   | CUSIP: 87164F105<br>LEI: 529900OF94TRHKZVBS87 | Long             | EC               | CORP              | US        |      9500 | NS      | $199595.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Tactile Systems Technology Inc             | Tactile Systems Technology, Inc.               | CUSIP: 87357P100<br>LEI: 54930069VDTITHOTKJ98 | Long             | EC               | CORP              | US        |      6977 | NS      | $202333.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Taseko Mines Ltd                           | Taseko Mines, Ltd.                             | CUSIP: 876511106<br>LEI: 549300XKUO1JSLU7KX54 | Long             | EC               | CORP              | CA        |     75122 | NS      | $425190.52    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Taysha Gene Therapies Inc                  | Taysha Gene Therapies, Inc.                    | CUSIP: 877619106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33225 | NS      | $182737.50    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Tectonic Therapeutic Inc                   | Tectonic Therapeutic, Inc.                     | CUSIP: 878972108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6503 | NS      | $135652.58    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Terns Pharmaceuticals Inc                  | Terns Pharmaceuticals, Inc.                    | CUSIP: 880881107<br>LEI: 254900S1ZDQMF4MYP709 | Long             | EC               | CORP              | US        |      4118 | NS      | $166367.20    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares Inc               | Texas Capital Bancshares, Inc.                 | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |      7120 | NS      | $644644.80    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermon Group Holdings Inc                 | Thermon Group Holdings, Inc.                   | CUSIP: 88362T103<br>LEI: 529900ZNZBBLDE77MZ38 | Long             | EC               | CORP              | US        |     38227 | NS      | $1420515.32   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Titan Machinery Inc                        | Titan Machinery, Inc.                          | CUSIP: 88830R101<br>LEI: 549300835ZM8G0BT5C94 | Long             | EC               | CORP              | US        |     12759 | NS      | $191895.36    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Transcat Inc                               | Transcat, Inc.                                 | CUSIP: 893529107<br>LEI: 54930081E40TSSHUOS40 | Long             | EC               | CORP              | US        |     13150 | NS      | $745999.50    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Trevi Therapeutics Inc                     | Trevi Therapeutics, Inc.                       | CUSIP: 89532M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14495 | NS      | $181477.40    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Tutor Perini Corp                          | Tutor Perini Corp.                             | CUSIP: 901109108<br>LEI: 549300FHXYVPW8LJ6D98 | Long             | EC               | CORP              | US        |      2629 | NS      | $176195.58    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Twin Disc Inc                              | Twin Disc, Inc.                                | CUSIP: 901476101<br>LEI: 549300FR8EHCY14BLP32 | Long             | EC               | CORP              | US        |      3926 | NS      | $65485.68     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyra Biosciences Inc                       | Tyra Biosciences, Inc.                         | CUSIP: 90240B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8142 | NS      | $214053.18    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| US Physical Therapy Inc                    | US Physical Therapy, Inc.                      | CUSIP: 90337L108<br>LEI: 529900KL1UXQYFIOMY96 | Long             | EC               | CORP              | US        |      5577 | NS      | $435507.93    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultra Clean Holdings Inc                   | Ultra Clean Holdings, Inc.                     | CUSIP: 90385V107<br>LEI: 5493007L6LS7QX18PE75 | Long             | EC               | CORP              | US        |     17474 | NS      | $442616.42    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultralife Corp                             | Ultralife Corp.                                | CUSIP: 903899102<br>LEI: 529900NVAFLKA00F3U05 | Long             | EC               | CORP              | US        |     14362 | NS      | $82150.64     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| American Coastal Insurance Cor             | American Coastal Insurance Corp.               | CUSIP: 910710102<br>LEI: 5299002P9105LJQA8G51 | Long             | EC               | CORP              | US        |     76400 | NS      | $964932.00    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Antimony Corp                | U.S. Antimony Corp.                            | CUSIP: 911549103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7083 | NS      | $35556.66     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Unity Bancorp Inc                          | Unity Bancorp, Inc.                            | CUSIP: 913290102<br>LEI: 549300Q90ZRNUR65PL93 | Long             | EC               | CORP              | US        |      3849 | NS      | $199070.28    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Technical Institute              | Universal Technical Institute, Inc.            | CUSIP: 913915104<br>LEI: 2549003YOJGAZ0PVFV48 | Long             | EC               | CORP              | US        |     22540 | NS      | $588970.20    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Univest Financial Corp                     | Univest Financial Corp.                        | CUSIP: 915271100<br>LEI: 4WII2HCR8UEWNU03U507 | Long             | EC               | CORP              | US        |      6478 | NS      | $212089.72    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Utah Medical Products Inc                  | Utah Medical Products, Inc.                    | CUSIP: 917488108<br>LEI: 5493002R27BBGV8DID60 | Long             | EC               | CORP              | US        |      6420 | NS      | $359263.20    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| VAALCO Energy Inc                          | VAALCO Energy, Inc.                            | CUSIP: 91851C201<br>LEI: 549300CFHFVIWB8M6T24 | Long             | EC               | CORP              | US        |    111050 | NS      | $404222.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeco Instruments Inc                      | Veeco Instruments, Inc.                        | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |     13618 | NS      | $389202.44    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Pursuit Attractions and Hospit             | Pursuit Attractions and Hospitality, Inc.      | CUSIP: 92552R406<br>LEI: 549300PXU4ZW7LPO5Y40 | Long             | EC               | CORP              | US        |      3265 | NS      | $109965.20    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Viant Technology Inc                       | Viant Technology, Inc.                         | CUSIP: 92557A101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11339 | NS      | $136521.56    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Victoria's Secret & Co                     | Victoria's Secret & Co.                        | CUSIP: 926400102<br>LEI: 5493006T3O70U3UWVF17 | Long             | EC               | CORP              | US        |       657 | NS      | $35589.69     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Vishay Precision Group Inc                 | Vishay Precision Group, Inc.                   | CUSIP: 92835K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39268 | NS      | $1511818.00   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Wabash National Corp                       | Wabash National Corp.                          | CUSIP: 929566107<br>LEI: 5299004ZAWHQZI5XO485 | Long             | EC               | CORP              | US        |     40575 | NS      | $350973.75    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Climb Global Solutions Inc                 | Climb Global Solutions, Inc.                   | CUSIP: 946760105<br>LEI: 549300LKM16VX2FG7J68 | Long             | EC               | CORP              | US        |      8499 | NS      | $873612.21    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Weave Communications Inc                   | Weave Communications, Inc.                     | CUSIP: 94724R108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41102 | NS      | $311964.18    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Werner Enterprises Inc                     | Werner Enterprises, Inc.                       | CUSIP: 950755108<br>LEI: 549300P6XRGOCHHJST37 | Long             | EC               | CORP              | US        |      5291 | NS      | $158782.91    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Whitestone REIT                            | Whitestone REIT                                | CUSIP: 966084204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15065 | NS      | $209252.85    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenon Pharmaceuticals Inc                  | Xenon Pharmaceuticals, Inc.                    | CUSIP: 98420N105<br>LEI: 549300XV44Q9Z1MIPQ03 | Long             | EC               | CORP              | CA        |      4729 | NS      | $211953.78    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Xeris Biopharma Holdings Inc               | Xeris Biopharma Holdings, Inc.                 | CUSIP: 98422E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     67895 | NS      | $532975.75    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Zumiez Inc                                 | Zumiez, Inc.                                   | CUSIP: 989817101<br>LEI: 549300J0PDF58P6HZD25 | Long             | EC               | CORP              | US        |     15635 | NS      | $407291.75    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Zymeworks Inc                              | Zymeworks, Inc.                                | CUSIP: 98985Y108<br>LEI: 894500AHOYAGYLYZJL67 | Long             | EC               | CORP              | US        |     14561 | NS      | $383391.13    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Ichor Holdings Ltd                         | Ichor Holdings, Ltd.                           | CUSIP: G4740B105<br>LEI: 529900PS8R2JVLJ2H892 | Long             | EC               | CORP              | KY        |      5454 | NS      | $100517.22    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| International General Insuranc             | International General Insurance Holdings, Ltd. | CUSIP: G4809J106<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |     24861 | NS      | $623762.49    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Kiniksa Pharmaceuticals Intern             | Kiniksa Pharmaceuticals International PLC      | CUSIP: G52694109<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |      8500 | NS      | $350625.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Theravance Biopharma Inc                   | Theravance Biopharma, Inc.                     | CUSIP: G8807B106<br>LEI: 5493007VTSXP4Z6MIW52 | Long             | EC               | CORP              | KY        |     10625 | NS      | $198793.75    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Aebi Schmidt Holding AG                    | Aebi Schmidt Holding AG                        | CUSIP: H00501108<br>LEI: 506700TN58RT735OV464 | Long             | EC               | CORP              | CH        |     10164 | NS      | $128574.60    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Inmode Ltd                                 | Inmode, Ltd.                                   | CUSIP: M5425M103<br>LEI: 984500DD95A35E9BD358 | Long             | EC               | CORP              | IL        |     29077 | NS      | $427141.13    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Bladex                                     | Banco Latinoamericano de Comercio Exterior SA  | CUSIP: P16994132<br>LEI: 549300CN3134K4LC0651 | Long             | EC               | CORP              | PA        |      5614 | NS      | $250384.40    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                        | CME E-mini Russell 2000 Index Future           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         9 | NC      | $1124100.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| WaVe Life Sciences Ltd                     | WaVe Life Sciences, Ltd.                       | CUSIP: Y95308105<br>LEI: 54930070006GPKFYZ813 | Long             | EC               | CORP              | SG        |      5592 | NS      | $95064.00     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-29

**Name of Applicant:** Forum Funds II

**Signature:** /s/ Karen Shaw

**Name of Signer:** Karen Shaw

**Title:** Treasurer