# EDGAR Filing Document

**Accession Number:** 0001576367
**File Stem:** 0001752724-25-205820
**Filing Date:** 2025-8
**Character Count:** 91302
**Document Hash:** 38c76eadcb13c6b29e006126ffc4fc50
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-205820.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-205820

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20250630

**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:** 251256923

**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:** THREE CANAL PLAZA, SUITE 600

  - **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:** 2025-06-30

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $91855560.63

**Total Liabilities:** $222148.68

**Net Assets:** $91633411.95

**Cash Not Reported:** $387622.72

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000142990 | -2.60%               | 7.48%                | 9.60%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-897691.88              | $-1060857.87                               |
| Month 2  | $-11940.83               | $5896283.42                                |
| Month 3  | $1108067.69              | $6802344.15                                |

### 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        |      7241 | NS      | $131858.61    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| A10 Networks Inc                           | A10 Networks, Inc.                             | CUSIP: 002121101<br>LEI: 549300UQD4IWUML81Q35 | Long             | EC               | CORP              | US        |     29217 | NS      | $565348.95    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Accuray Inc                                | Accuray, Inc.                                  | CUSIP: 004397105<br>LEI: 549300G28LY4TZKZJG51 | Long             | EC               | CORP              | US        |    124192 | NS      | $170143.04    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Aclaris Therapeutics Inc                   | Aclaris Therapeutics, Inc.                     | CUSIP: 00461U105<br>LEI: 5493000B2LQ9QTW1DF52 | Long             | EC               | CORP              | US        |     43529 | NS      | $61811.18     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Acme United Corp                           | Acme United Corp.                              | CUSIP: 004816104<br>LEI: 549300NVT8NN13WP8M83 | Long             | EC               | CORP              | US        |      5487 | NS      | $227436.15    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ADTRAN Holdings Inc                        | ADTRAN Holdings, Inc.                          | CUSIP: 00486H105<br>LEI: 549300VV36J86CRRWF77 | Long             | EC               | CORP              | US        |    141379 | NS      | $1268169.63   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Adaptive Biotechnologies Corp              | Adaptive Biotechnologies Corp.                 | CUSIP: 00650F109<br>LEI: 549300ZTF7OT1FW66Q96 | Long             | EC               | CORP              | US        |     18936 | NS      | $220604.40    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Addus HomeCare Corp                        | Addus HomeCare Corp.                           | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |      2789 | NS      | $321264.91    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| AerSale Corp                               | AerSale Corp.                                  | CUSIP: 00810F106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27845 | NS      | $167348.45    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Aeva Technologies Inc                      | Aeva Technologies, Inc.                        | CUSIP: 00835Q202<br>LEI: 529900EOW3TB2FR95A21 | Long             | EC               | CORP              | US        |     10101 | NS      | $381716.79    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegiant Travel Co                        | Allegiant Travel Co.                           | CUSIP: 01748X102<br>LEI: 549300JM9OZXOHWL2K18 | Long             | EC               | CORP              | US        |      4360 | NS      | $239582.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Allient Inc                                | Allient, Inc.                                  | CUSIP: 019330109<br>LEI: 549300I2LHAWYGNBPM97 | Long             | EC               | CORP              | US        |     20348 | NS      | $738835.88    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpine Banks of Colorado                   | Alpine Banks of Colorado                       | CUSIP: 020810107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5959 | NS      | $161399.52    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| American Public Education Inc              | American Public Education, Inc.                | CUSIP: 02913V103<br>LEI: 254900GZNX6TJQGM4S17 | Long             | EC               | CORP              | US        |      6974 | NS      | $212428.04    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| American Superconductor Corp               | American Superconductor Corp.                  | CUSIP: 030111207<br>LEI: 549300S9YT8Z8LOK4452 | Long             | EC               | CORP              | US        |     11739 | NS      | $430703.91    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Amplitude Inc                              | Amplitude, Inc.                                | CUSIP: 03213A104<br>LEI: 984500EZ87C703978858 | Long             | EC               | CORP              | US        |     54308 | NS      | $673419.20    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| AnaptysBio Inc                             | AnaptysBio, Inc.                               | CUSIP: 032724106<br>LEI: 529900HH4WQT03IG1A12 | Long             | EC               | CORP              | US        |      5700 | NS      | $126540.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Apartment Investment and Manag             | Apartment Investment and Management Co.        | CUSIP: 03748R747<br>LEI: 549300O8FT5GJ4RU1D57 | Long             | EC               | CORP              | US        |     45782 | NS      | $396014.30    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer Aviation Inc                        | Archer Aviation, Inc.                          | CUSIP: 03945R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35613 | NS      | $386401.05    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Arhaus Inc                                 | Arhaus, Inc.                                   | CUSIP: 04035M102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     52260 | NS      | $453094.20    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Aris Water Solutions Inc                   | Aris Water Solutions, Inc.                     | CUSIP: 04041L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26444 | NS      | $625400.60    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Arteris Inc                                | Arteris, Inc.                                  | CUSIP: 04302A104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     51206 | NS      | $487993.18    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Astria Therapeutics Inc                    | Astria Therapeutics, Inc.                      | CUSIP: 04635X102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14183 | NS      | $76020.88     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| AstroNova Inc                              | AstroNova, Inc.                                | CUSIP: 04638F108<br>LEI: 549300D8PFP62QX00223 | Long             | EC               | CORP              | US        |     34047 | NS      | $394604.73    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Asure Software Inc                         | Asure Software, Inc.                           | CUSIP: 04649U102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11119 | NS      | $108521.44    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Avanos Medical Inc                         | Avanos Medical, Inc.                           | CUSIP: 05350V106<br>LEI: 549300YCXWOM7NEWMQ58 | Long             | EC               | CORP              | US        |     15370 | NS      | $188128.80    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Aviat Networks Inc                         | Aviat Networks, Inc.                           | CUSIP: 05366Y201<br>LEI: 549300Z3X8Z4MK52CI65 | Long             | EC               | CORP              | US        |     43075 | NS      | $1035953.75   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Bicara Therapeutics Inc                    | Bicara Therapeutics, Inc.                      | CUSIP: 055477103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10631 | NS      | $98761.99     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BGSF Inc                                   | BGSF, Inc.                                     | CUSIP: 05601C105<br>LEI: 549300AUC6I9ZG3KKQ91 | Long             | EC               | CORP              | US        |     90248 | NS      | $574879.76    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Backblaze Inc                              | Backblaze, Inc.                                | CUSIP: 05637B105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17149 | NS      | $94319.50     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank First Corp                            | Bank First Corp.                               | CUSIP: 06211J100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1916 | NS      | $225417.40    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Marin Bancorp                      | Bank of Marin Bancorp                          | CUSIP: 063425102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11720 | NS      | $267684.80    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Bankwell Financial Group Inc               | Bankwell Financial Group, Inc.                 | CUSIP: 06654A103<br>LEI: 5493004NUBQXPY84NX67 | Long             | EC               | CORP              | US        |     11946 | NS      | $430414.38    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrett Business Services Inc              | Barrett Business Services, Inc.                | CUSIP: 068463108<br>LEI: 529900HXB6TMG0SR9Y34 | Long             | EC               | CORP              | US        |     25366 | NS      | $1057508.54   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Beazer Homes USA Inc                       | Beazer Homes USA, Inc.                         | CUSIP: 07556Q881<br>LEI: 549300DUPYT2T0F60I45 | Long             | EC               | CORP              | US        |      6044 | NS      | $135204.28    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Bel Fuse Inc                               | Bel Fuse, Inc.                                 | CUSIP: 077347300<br>LEI: 2549009L4XYDBRRY6X39 | Long             | EC               | CORP              | US        |      4036 | NS      | $394276.84    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| BioLife Solutions Inc                      | BioLife Solutions, Inc.                        | CUSIP: 09062W204<br>LEI: 549300G2IVCMC2TJDW72 | Long             | EC               | CORP              | US        |     30154 | NS      | $649517.16    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ's Restaurants Inc                       | BJ's Restaurants, Inc.                         | CUSIP: 09180C106<br>LEI: 5299000EOW66I1OJNQ23 | Long             | EC               | CORP              | US        |      4250 | NS      | $189550.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Blend Labs Inc                             | Blend Labs, Inc.                               | CUSIP: 09352U108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     52032 | NS      | $171705.60    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| BlueLinx Holdings Inc                      | BlueLinx Holdings, Inc.                        | CUSIP: 09624H208<br>LEI: 549300YSX7GU28F5I540 | Long             | EC               | CORP              | US        |      7755 | NS      | $576816.90    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Azenta Inc                                 | Azenta, Inc.                                   | CUSIP: 114340102<br>LEI: 35ZN6X1ANPH25YN32Y17 | Long             | EC               | CORP              | US        |      4702 | NS      | $144727.56    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Business First Bancshares Inc              | Business First Bancshares, Inc.                | CUSIP: 12326C105<br>LEI: 549300ILTC50KHDX4A08 | Long             | EC               | CORP              | US        |      7392 | NS      | $182212.80    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Butterfly Network Inc                      | Butterfly Network, Inc.                        | CUSIP: 124155102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41372 | NS      | $82744.00     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Byrna Technologies Inc                     | Byrna Technologies, Inc.                       | CUSIP: 12448X201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6181 | NS      | $190869.28    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CECO Environmental Corp                    | CECO Environmental Corp.                       | CUSIP: 125141101<br>LEI: 5493002CZCTL4HGLIY91 | Long             | EC               | CORP              | US        |     11843 | NS      | $335275.33    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CRA International Inc                      | CRA International, Inc.                        | CUSIP: 12618T105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3832 | NS      | $718001.84    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Topgolf Callaway Brands Corp               | Topgolf Callaway Brands Corp.                  | CUSIP: 131193104<br>LEI: 5493005UB0KFRKBPCU72 | Long             | EC               | CORP              | US        |     43968 | NS      | $353942.40    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Capitol Federal Financial Inc              | Capitol Federal Financial, Inc.                | CUSIP: 14057J101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33909 | NS      | $206844.90    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CareDx Inc                                 | CareDx, Inc.                                   | CUSIP: 14167L103<br>LEI: 549300NQOFKL9NON0U06 | Long             | EC               | CORP              | US        |     11307 | NS      | $220938.78    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Pacific Financial Corp             | Central Pacific Financial Corp.                | CUSIP: 154760409<br>LEI: 549300W3YEAOZ4KGG849 | Long             | EC               | CORP              | US        |      8344 | NS      | $233882.32    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Centrus Energy Corp                        | Centrus Energy Corp.                           | CUSIP: 15643U104<br>LEI: 549300G6VDK9G8276661 | Long             | EC               | CORP              | US        |      2933 | NS      | $537266.94    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Cerence, Inc.                              | Cerence, Inc.                                  | CUSIP: 156727109<br>LEI: 5493002WL2W5WMS89568 | Long             | EC               | CORP              | US        |      8449 | NS      | $86264.29     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CEVA Inc                                   | CEVA, Inc.                                     | CUSIP: 157210105<br>LEI: 529900G9T7CVU2J2VU73 | Long             | EC               | CORP              | US        |     18030 | NS      | $396299.40    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Chefs' Warehouse Inc/The                   | The Chefs' Warehouse, Inc.                     | CUSIP: 163086101<br>LEI: 549300JYEDC8C547E980 | Long             | EC               | CORP              | US        |      3131 | NS      | $199789.11    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Niagen Bioscience Inc                      | Niagen Bioscience, Inc.                        | CUSIP: 171077407<br>LEI: 529900OPI7B8JPXCVS70 | Long             | EC               | CORP              | US        |    126282 | NS      | $1819723.62   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Civeo Corp                                 | Civeo Corp.                                    | CUSIP: 17878Y207<br>LEI: 254900H0BM0N0O4MSY43 | Long             | EC               | CORP              | CA        |      9475 | NS      | $218777.75    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Civitas Resources Inc                      | Civitas Resources, Inc.                        | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |     12590 | NS      | $346476.80    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Cohu Inc                                   | Cohu, Inc.                                     | CUSIP: 192576106<br>LEI: 529900FJPORJ3JJ2XS33 | Long             | EC               | CORP              | US        |     17386 | NS      | $334506.64    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbus McKinnon Corp/NY                  | Columbus McKinnon Corp.                        | CUSIP: 199333105<br>LEI: 549300W3HQB0HO1F3G69 | Long             | EC               | CORP              | US        |     14763 | NS      | $225431.01    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Trust Bancorp Inc                | Community Trust Bancorp, Inc.                  | CUSIP: 204149108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5670 | NS      | $300056.40    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| TruBridge Inc                              | TruBridge, Inc.                                | CUSIP: 205306103<br>LEI: 5493005Q6CJC78TGL805 | Long             | EC               | CORP              | US        |      4319 | NS      | $101150.98    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Concrete Pumping Holdings Inc              | Concrete Pumping Holdings, Inc.                | CUSIP: 206704108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     57302 | NS      | $352407.30    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Conduent Inc                               | Conduent, Inc.                                 | CUSIP: 206787103<br>LEI: 549300SFJ2D2CYY6CQ11 | Long             | EC               | CORP              | US        |     41647 | NS      | $109948.08    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ConnectOne Bancorp Inc                     | ConnectOne Bancorp, Inc.                       | CUSIP: 20786W107<br>LEI: 549300E2M5ZYAZKUK134 | Long             | EC               | CORP              | US        |      9818 | NS      | $227384.88    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Consensus Cloud Solutions Inc              | Consensus Cloud Solutions, Inc.                | CUSIP: 20848V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15932 | NS      | $367391.92    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Molding Technologies Inc              | Core Molding Technologies, Inc.                | CUSIP: 218683100<br>LEI: 549300ZY2MFRXCKVIJ28 | Long             | EC               | CORP              | US        |     49334 | NS      | $818451.06    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Scientific Inc                        | Core Scientific, Inc.                          | CUSIP: 21874A106<br>LEI: 5299003RGB2LAZ65RK73 | Long             | EC               | CORP              | US        |     14373 | NS      | $245347.11    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Corvus Pharmaceuticals Inc                 | Corvus Pharmaceuticals, Inc.                   | CUSIP: 221015100<br>LEI: 549300I3AVJ8F75NCX65 | Long             | EC               | CORP              | US        |     19469 | NS      | $77876.00     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Cronos Group Inc                           | Cronos Group, Inc.                             | CUSIP: 22717L101<br>LEI: 549300CWB04E8UOTWX71 | Long             | EC               | CORP              | CA        |     48206 | NS      | $92073.46     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Crafts Inc                           | Crown Crafts, Inc.                             | CUSIP: 228309100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31503 | NS      | $90413.61     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Customers Bancorp Inc                      | Customers Bancorp, Inc.                        | CUSIP: 23204G100<br>LEI: 549300WLBCHYKZ53FN68 | Long             | EC               | CORP              | US        |     18385 | NS      | $1079934.90   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CytomX Therapeutics Inc                    | CytomX Therapeutics, Inc.                      | CUSIP: 23284F105<br>LEI: 5493004VW2FW0QLL3345 | Long             | EC               | CORP              | US        |     44461 | NS      | $100926.47    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| DHI Group Inc                              | DHI Group, Inc.                                | CUSIP: 23331S100<br>LEI: 529900489RAC0CU0AO81 | Long             | EC               | CORP              | US        |    189600 | NS      | $563112.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| DXP Enterprises Inc/TX                     | DXP Enterprises, Inc./TX                       | CUSIP: 233377407<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1916 | NS      | $167937.40    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Dave Inc                                   | Dave, Inc.                                     | CUSIP: 23834J201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1243 | NS      | $333633.63    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Turbine Inc                        | Digital Turbine, Inc.                          | CUSIP: 25400W102<br>LEI: 549300D0WZR1VI2QGB24 | Long             | EC               | CORP              | US        |     74784 | NS      | $441225.60    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Donnelley Financial Solutions              | Donnelley Financial Solutions, Inc.            | CUSIP: 25787G100<br>LEI: 549300O1NPY4J56QCU04 | Long             | EC               | CORP              | US        |      7663 | NS      | $472423.95    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Ducommun Inc                               | Ducommun, Inc.                                 | CUSIP: 264147109<br>LEI: 549300Z71HMWF90S2214 | Long             | EC               | CORP              | US        |     26262 | NS      | $2170029.06   | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Duluth Holdings Inc                        | Duluth Holdings, Inc.                          | CUSIP: 26443V101<br>LEI: 549300B6G8G3WGHFYU15 | Long             | EC               | CORP              | US        |     48165 | NS      | $101146.50    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| D-Wave Quantum Inc                         | D-Wave Quantum, Inc.                           | CUSIP: 26740W109<br>LEI: 5493001U37G4PRD4GW95 | Long             | EC               | CORP              | US        |      7389 | NS      | $108174.96    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| El Pollo Loco Holdings Inc                 | El Pollo Loco Holdings, Inc.                   | CUSIP: 268603107<br>LEI: 549300EZCBNF4G707K90 | Long             | EC               | CORP              | US        |     42335 | NS      | $466108.35    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Edgewise Therapeutics Inc                  | Edgewise Therapeutics, Inc.                    | CUSIP: 28036F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20309 | NS      | $266250.99    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| eHealth Inc                                | eHealth, Inc.                                  | CUSIP: 28238P109<br>LEI: 5299003O8Y5OKXUZQ421 | Long             | EC               | CORP              | US        |     22610 | NS      | $98353.50     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Electromed Inc                             | Electromed, Inc.                               | CUSIP: 285409108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16565 | NS      | $364264.35    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Embecta Corp                               | Embecta Corp.                                  | CUSIP: 29082K105<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | EC               | CORP              | US        |     30554 | NS      | $296068.26    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Recovery Inc                        | Energy Recovery, Inc.                          | CUSIP: 29270J100<br>LEI: 549300ZEQL52Z525WJ22 | Long             | EC               | CORP              | US        |     15639 | NS      | $199866.42    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Enova International Inc                    | Enova International, Inc.                      | CUSIP: 29357K103<br>LEI: 549300O8XOCQSB49UO63 | Long             | EC               | CORP              | US        |      6660 | NS      | $742723.20    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Enovix Corp                                | Enovix Corp.                                   | CUSIP: 293594107<br>LEI: 549300EC7NZGWORHYJ53 | Long             | EC               | CORP              | US        |     35586 | NS      | $367959.24    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Eton Pharmaceuticals Inc                   | Eton Pharmaceuticals, Inc.                     | CUSIP: 29772L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12621 | NS      | $179849.25    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolv Technologies Holdings In             | Evolv Technologies Holdings, Inc.              | CUSIP: 30049H102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27079 | NS      | $168972.96    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| EZCORP Inc                                 | EZCORP, Inc.                                   | CUSIP: 302301106<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | EC               | CORP              | US        |     18164 | NS      | $252116.32    | 0.28%             |  |  |  | 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        |   2497123 | NS      | $2497122.83   | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Corp                       | First Financial Corp.                          | CUSIP: 320218100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5431 | NS      | $294305.89    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| First Internet Bancorp                     | First Internet Bancorp                         | CUSIP: 320557101<br>LEI: 549300T25MP2M92XU194 | Long             | EC               | CORP              | US        |      8873 | NS      | $238683.70    | 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        |     16214 | NS      | $260072.56    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| First Western Financial Inc                | First Western Financial, Inc.                  | CUSIP: 33751L105<br>LEI: 549300PPOGX4C7S66B47 | Long             | EC               | CORP              | US        |     34236 | NS      | $772364.16    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Flotek Industries Inc                      | Flotek Industries, Inc.                        | CUSIP: 343389409<br>LEI: 549300TF60OEK4FPPC44 | Long             | EC               | CORP              | US        |     10277 | NS      | $151688.52    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluent Inc                                 | Fluent, Inc.                                   | CUSIP: 34380C201<br>LEI: 549300P3G8O165ICY429 | Long             | EC               | CORP              | US        |     74910 | NS      | $149820.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Covey Co                          | Franklin Covey Co.                             | CUSIP: 353469109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6367 | NS      | $145294.94    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Infrastructure Inc                    | FTAI Infrastructure, Inc.                      | CUSIP: 35953C106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     97699 | NS      | $602802.83    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentherm Inc                               | Gentherm, Inc.                                 | CUSIP: 37253A103<br>LEI: HKM6YX1U5JS60TCUB219 | Long             | EC               | CORP              | US        |      8734 | NS      | $247084.86    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Geospace Technologies Corp                 | Geospace Technologies Corp.                    | CUSIP: 37364X109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     58025 | NS      | $827436.50    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Gorman-Rupp Co/The                         | The Gorman-Rupp Co.                            | CUSIP: 383082104<br>LEI: 254900WVLPOIWPGJPA07 | Long             | EC               | CORP              | US        |      3344 | NS      | $122791.68    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Graham Corp                                | Graham Corp.                                   | CUSIP: 384556106<br>LEI: 254900EI9P4LTY524J77 | Long             | EC               | CORP              | US        |     20707 | NS      | $1025203.57   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Great Lakes Dredge & Dock Corp             | Great Lakes Dredge & Dock Corp.                | CUSIP: 390607109<br>LEI: 549300H65E3MZ1CX0P05 | Long             | EC               | CORP              | US        |     29289 | NS      | $357032.91    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Guess? Inc                                 | Guess?, Inc.                                   | CUSIP: 401617105<br>LEI: 549300QVH3ZK2DW0KP86 | Long             | EC               | CORP              | US        |     30730 | NS      | $371525.70    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmony Biosciences Holdings I             | Harmony Biosciences Holdings, Inc.             | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15890 | NS      | $502124.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Enviri Corp                                | Enviri Corp.                                   | CUSIP: 415864107<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | EC               | CORP              | US        |     43363 | NS      | $376390.84    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Harvard Bioscience Inc                     | Harvard Bioscience, Inc.                       | CUSIP: 416906105<br>LEI: 549300VLGB1D47GGC642 | Long             | EC               | CORP              | US        |    183193 | NS      | $81301.06     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Services Group Inc              | Healthcare Services Group, Inc.                | CUSIP: 421906108<br>LEI: 529900GVZ1D2FBYMS719 | Long             | EC               | CORP              | US        |     12414 | NS      | $186582.42    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthStream Inc                           | HealthStream, Inc.                             | CUSIP: 42222N103<br>LEI: 529900OJ88H8635JNH64 | Long             | EC               | CORP              | US        |      6086 | NS      | $168399.62    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Heritage Commerce Corp                     | Heritage Commerce Corp.                        | CUSIP: 426927109<br>LEI: 549300CLIS851ELSR406 | Long             | EC               | CORP              | US        |     29136 | NS      | $289320.48    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Heritage Financial Corp/WA                 | Heritage Financial Corp./WA                    | CUSIP: 42722X106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7804 | NS      | $186047.36    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Heritage Insurance Holdings In             | Heritage Insurance Holdings, Inc.              | CUSIP: 42727J102<br>LEI: 9845008CCYDD87F66B45 | Long             | EC               | CORP              | US        |     15619 | NS      | $389537.86    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Hurco Cos Inc                              | Hurco Cos., Inc.                               | CUSIP: 447324104<br>LEI: XSC5XDOTBYOBQPOG2O82 | Long             | EC               | CORP              | US        |     20280 | NS      | $383292.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Immersion Corp                             | Immersion Corp.                                | CUSIP: 452521107<br>LEI: 529900AKNC1UAMQ2YB35 | Long             | EC               | CORP              | US        |     24502 | NS      | $193075.76    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Immunome Inc                               | Immunome, Inc.                                 | CUSIP: 45257U108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19700 | NS      | $183210.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| indie Semiconductor Inc                    | indie Semiconductor, Inc.                      | CUSIP: 45569U101<br>LEI: 254900L1MFXFYGB1PV53 | Long             | EC               | CORP              | US        |    145317 | NS      | $517328.52    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Information Services Group Inc             | Information Services Group, Inc.               | CUSIP: 45675Y104<br>LEI: 549300ZUNI6DQ0G8Q273 | Long             | EC               | CORP              | US        |     37443 | NS      | $179726.40    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| InfuSystem Holdings Inc                    | InfuSystem Holdings, Inc.                      | CUSIP: 45685K102<br>LEI: 549300F58N8PHJ4QUI59 | Long             | EC               | CORP              | US        |     52154 | NS      | $325440.96    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovex International Inc                  | Innovex International, Inc.                    | CUSIP: 457651107<br>LEI: 5299007REICYIJNMW197 | Long             | EC               | CORP              | US        |     21835 | NS      | $341062.70    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Insteel Industries Inc                     | Insteel Industries, Inc.                       | CUSIP: 45774W108<br>LEI: 52990026LKY4MOX3L174 | Long             | EC               | CORP              | US        |     12397 | NS      | $461292.37    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Intellia Therapeutics Inc                  | Intellia Therapeutics, Inc.                    | CUSIP: 45826J105<br>LEI: 5493002T5BCPE5DZC723 | Long             | EC               | CORP              | US        |     24617 | NS      | $230907.46    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Interface Inc                              | Interface, Inc.                                | CUSIP: 458665304<br>LEI: 549300VXZWQOIDFPU355 | Long             | EC               | CORP              | US        |     46184 | NS      | $966631.12    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| inTEST Corp                                | inTEST Corp.                                   | CUSIP: 461147100<br>LEI: 549300RJJBPHDOAVDU15 | Long             | EC               | CORP              | US        |     40148 | NS      | $292277.44    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Investors Title Co                         | Investors Title Co.                            | CUSIP: 461804106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1656 | NS      | $349912.80    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| iRadimed Corp                              | iRadimed Corp.                                 | CUSIP: 46266A109<br>LEI: 549300YVHWP0YJ1YW816 | Long             | EC               | CORP              | US        |     18663 | NS      | $1115860.77   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Jack in the Box Inc                        | Jack in the Box, Inc.                          | CUSIP: 466367109<br>LEI: 5493002OJW26P0SUUP68 | Long             | EC               | CORP              | US        |      5607 | NS      | $97898.22     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus International Group Inc              | Janus International Group, Inc.                | CUSIP: 47103N106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10618 | NS      | $86430.52     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Joint Corp/The                             | The Joint Corp.                                | CUSIP: 47973J102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24230 | NS      | $279614.20    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaiser Aluminum Corp                       | Kaiser Aluminum Corp.                          | CUSIP: 483007704<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2572 | NS      | $205502.80    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Key Tronic Corp                            | Key Tronic Corp.                               | CUSIP: 493144109<br>LEI: 40TF3VPKEM3IMMIU0O47 | Long             | EC               | CORP              | US        |     52100 | NS      | $149006.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Kura Sushi USA Inc                         | Kura Sushi USA, Inc.                           | CUSIP: 501270102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3193 | NS      | $274853.44    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Lands' End Inc                             | Lands' End, Inc.                               | CUSIP: 51509F105<br>LEI: 54930016WOL7P2P67Q43 | Long             | EC               | CORP              | US        |     18498 | NS      | $198113.58    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| LeMaitre Vascular Inc                      | LeMaitre Vascular, Inc.                        | CUSIP: 525558201<br>LEI: 549300FZUBUB7MHY8R17 | Long             | EC               | CORP              | US        |      4226 | NS      | $350969.30    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| LendingTree Inc                            | LendingTree, Inc.                              | CUSIP: 52603B107<br>LEI: 549300ISY5YHUJZTON08 | Long             | EC               | CORP              | US        |      5407 | NS      | $200437.49    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| LifeMD Inc                                 | LifeMD, Inc.                                   | CUSIP: 53216B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16239 | NS      | $221175.18    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Liquidity Services Inc                     | Liquidity Services, Inc.                       | CUSIP: 53635B107<br>LEI: 5299002AZ4ULSAXN0G81 | Long             | EC               | CORP              | US        |      6638 | NS      | $156590.42    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MYR Group Inc                              | MYR Group, Inc.                                | CUSIP: 55405W104<br>LEI: 529900G1IMMZHOQ17I54 | Long             | EC               | CORP              | US        |      4395 | NS      | $797472.75    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnite Inc                                | Magnite, Inc.                                  | CUSIP: 55955D100<br>LEI: 54930018FR2YX1HHSB02 | Long             | EC               | CORP              | US        |     52019 | NS      | $1254698.28   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Malibu Boats Inc                           | Malibu Boats, Inc.                             | CUSIP: 56117J100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9983 | NS      | $312867.22    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Mama's Creations Inc                       | Mama's Creations, Inc.                         | CUSIP: 56146T103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     47092 | NS      | $390863.60    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| MannKind Corp                              | MannKind Corp.                                 | CUSIP: 56400P706<br>LEI: 213800GFBCNY1ZFST722 | Long             | EC               | CORP              | US        |     36056 | NS      | $134849.44    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Materion Corp                              | Materion Corp.                                 | CUSIP: 576690101<br>LEI: 549300CJ5RI351SUYT02 | Long             | EC               | CORP              | US        |      2911 | NS      | $231046.07    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Matthews International Corp                | Matthews International Corp.                   | CUSIP: 577128101<br>LEI: 549300ZVC5O0ATML6U61 | Long             | EC               | CORP              | US        |      5440 | NS      | $130070.40    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Mayville Engineering Co Inc                | Mayville Engineering Co., Inc.                 | CUSIP: 578605107<br>LEI: 9845008D43E42A7FC362 | Long             | EC               | CORP              | US        |     23943 | NS      | $382130.28    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Medallion Financial Corp                   | Medallion Financial Corp.                      | CUSIP: 583928106<br>LEI: 549300FJ4FMGJ2C34Y48 | Long             | EC               | CORP              | US        |     62800 | NS      | $598484.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Pediatrix Medical Group Inc                | Pediatrix Medical Group, Inc.                  | CUSIP: 58502B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24663 | NS      | $353914.05    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercantile Bank Corp                       | Mercantile Bank Corp.                          | CUSIP: 587376104<br>LEI: P16VZZCKTJ5IONL6XE37 | Long             | EC               | CORP              | US        |      4228 | NS      | $196221.48    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Mesa Laboratories Inc                      | Mesa Laboratories, Inc.                        | CUSIP: 59064R109<br>LEI: 549300ZCG738WLX8ZW79 | Long             | EC               | CORP              | US        |      2741 | NS      | $258257.02    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Metalla Royalty & Streaming Lt             | Metalla Royalty & Streaming, Ltd.              | CUSIP: 59124U605<br>LEI: 549300RPR0O774QEKV20 | Long             | EC               | CORP              | CA        |     36531 | NS      | $140279.04    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid Penn Bancorp Inc                       | Mid Penn Bancorp, Inc.                         | CUSIP: 59540G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6772 | NS      | $190970.40    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MidWestOne Financial Group Inc             | MidWestOne Financial Group, Inc.               | CUSIP: 598511103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5270 | NS      | $151617.90    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Miller Industries Inc/TN                   | Miller Industries, Inc./TN                     | CUSIP: 600551204<br>LEI: 549300F1O74SPUJ7UU94 | Long             | EC               | CORP              | US        |      2834 | NS      | $125999.64    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| MiMedx Group Inc                           | MiMedx Group, Inc.                             | CUSIP: 602496101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     78735 | NS      | $481070.85    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitek Systems Inc                          | Mitek Systems, Inc.                            | CUSIP: 606710200<br>LEI: 549300ABZAQ3R25XG118 | Long             | EC               | CORP              | US        |     16253 | NS      | $160904.70    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Monarch Cement Co/The                      | The Monarch Cement Co.                         | CUSIP: 609031307<br>LEI: 549300ZMPJCNSENB3O72 | Long             | EC               | CORP              | US        |      1871 | NS      | $447169.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Myers Industries Inc                       | Myers Industries, Inc.                         | CUSIP: 628464109<br>LEI: 549300I2H9XMVTCW4Q51 | Long             | EC               | CORP              | US        |     29460 | NS      | $426875.40    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| NVE Corp                                   | NVE Corp.                                      | CUSIP: 629445206<br>LEI: 5299003C1ATTWX8X0112 | Long             | EC               | CORP              | US        |      6452 | NS      | $474931.72    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Napco Security Technologies In             | Napco Security Technologies, Inc.              | CUSIP: 630402105<br>LEI: 529900KV21J4YY9YST76 | Long             | EC               | CORP              | US        |     11551 | NS      | $342949.19    | 0.37%             |  |  |  | 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        |      6085 | NS      | $157053.85    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| NPK International Inc                      | NPK International, Inc.                        | CUSIP: 651718504<br>LEI: 54930073OHWDQW4DJN26 | Long             | EC               | CORP              | US        |     94365 | NS      | $803046.15    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| 908 Devices Inc                            | 908 Devices, Inc.                              | CUSIP: 65443P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5121 | NS      | $36512.73     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| nLight Inc                                 | nLight, Inc.                                   | CUSIP: 65487K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16790 | NS      | $330427.20    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Technologies Internat             | Northern Technologies International Corp.      | CUSIP: 665809109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42258 | NS      | $313131.78    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrim BanCorp Inc                       | Northrim BanCorp, Inc.                         | CUSIP: 666762109<br>LEI: 5493006X7RLLTZ3SG075 | Long             | EC               | CORP              | US        |      3500 | NS      | $326410.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| OP Bancorp                                 | OP Bancorp                                     | CUSIP: 67109R109<br>LEI: 549300LTYZMS0Q13U522 | Long             | EC               | CORP              | US        |     15973 | NS      | $207489.27    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Oil-Dri Corp of America                    | Oil-Dri Corp. of America                       | CUSIP: 677864100<br>LEI: 549300RSG5KPUH16WH66 | Long             | EC               | CORP              | US        |      7086 | NS      | $418003.14    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Oil States International Inc               | Oil States International, Inc.                 | CUSIP: 678026105<br>LEI: 5493004TF4KQJGMYL777 | Long             | EC               | CORP              | US        |     29547 | NS      | $158371.92    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Ondas Holdings Inc                         | Ondas Holdings, Inc.                           | CUSIP: 68236H204<br>LEI: 549300JWLHDUB82V8607 | Long             | EC               | CORP              | US        |    181208 | NS      | $347919.36    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| One Liberty Properties Inc                 | One Liberty Properties, Inc.                   | CUSIP: 682406103<br>LEI: 549300QII1CQZGZBZR14 | Long             | EC               | CORP              | US        |      6797 | NS      | $162176.42    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| OneSpan Inc                                | OneSpan, Inc.                                  | CUSIP: 68287N100<br>LEI: 984500E502E6DC354D26 | Long             | EC               | CORP              | US        |     24726 | NS      | $412676.94    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| OptimizeRx Corp                            | OptimizeRx Corp.                               | CUSIP: 68401U204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13021 | NS      | $175783.50    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Organogenesis Holdings Inc                 | Organogenesis Holdings, Inc.                   | CUSIP: 68621F102<br>LEI: 549300RLC2O821TU6941 | Long             | EC               | CORP              | US        |     24438 | NS      | $89443.08     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Orion Energy Systems, Inc.                 | Orion Energy Systems, Inc.                     | CUSIP: 686275108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    166559 | NS      | $101600.99    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| OrthoPediatrics Corp                       | OrthoPediatrics Corp.                          | CUSIP: 68752L100<br>LEI: 5493000KUTPFGOPAT717 | Long             | EC               | CORP              | US        |     16262 | NS      | $349307.76    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Orthofix Medical Inc                       | Orthofix Medical, Inc.                         | CUSIP: 68752M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10295 | NS      | $114789.25    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Ouster Inc                                 | Ouster, Inc.                                   | CUSIP: 68989M202<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13983 | NS      | $339087.75    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Teads Holding Co                           | Teads Holding Co.                              | CUSIP: 69002R103<br>LEI: 549300TNEHRXPVGWVW07 | Long             | EC               | CORP              | US        |     91201 | NS      | $226178.48    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Owlet Inc                                  | Owlet, Inc.                                    | CUSIP: 69120X206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29495 | NS      | $247758.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| PDF Solutions Inc                          | PDF Solutions, Inc.                            | CUSIP: 693282105<br>LEI: 549300GMSP6MROFBI160 | Long             | EC               | CORP              | US        |     10255 | NS      | $219251.90    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| PRA Group Inc                              | PRA Group, Inc.                                | CUSIP: 69354N106<br>LEI: 549300Q5HW3JSSB86K27 | Long             | EC               | CORP              | US        |     13014 | NS      | $191956.50    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacira BioSciences Inc                     | Pacira BioSciences, Inc.                       | CUSIP: 695127100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11523 | NS      | $275399.70    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Aerospace Corp                        | Park Aerospace Corp.                           | CUSIP: 70014A104<br>LEI: 5299004AG0G7IB636095 | Long             | EC               | CORP              | US        |     31442 | NS      | $464398.34    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Pennant Group Inc/The                      | The Pennant Group, Inc.                        | CUSIP: 70805E109<br>LEI: 5493007H2OYR6BYLDA64 | Long             | EC               | CORP              | US        |     16013 | NS      | $477988.05    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Perma-Fix Environmental Servic             | Perma-Fix Environmental Services, Inc.         | CUSIP: 714157203<br>LEI: 54930015OVD1T5P12U15 | Long             | EC               | CORP              | US        |     46983 | NS      | $494261.16    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Phibro Animal Health Corp                  | Phibro Animal Health Corp.                     | CUSIP: 71742Q106<br>LEI: 549300U24SP4AF2JUX52 | Long             | EC               | CORP              | US        |      7732 | NS      | $197475.28    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc                             | Photronics, Inc.                               | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |     54610 | NS      | $1028306.30   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Phreesia Inc                               | Phreesia, Inc.                                 | CUSIP: 71944F106<br>LEI: 5493000HHF8NU4QOCG53 | Long             | EC               | CORP              | US        |      9061 | NS      | $257876.06    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Plymouth Industrial REIT Inc               | Plymouth Industrial REIT, Inc.                 | CUSIP: 729640102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     48534 | NS      | $779456.04    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Primoris Services Corp                     | Primoris Services Corp.                        | CUSIP: 74164F103<br>LEI: 549300UF3OLBJ8D5K349 | Long             | EC               | CORP              | US        |      4425 | NS      | $344884.50    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Proficient Auto Logistics Inc              | Proficient Auto Logistics, Inc.                | CUSIP: 74317M104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     44512 | NS      | $323157.12    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| PROS Holdings Inc                          | PROS Holdings, Inc.                            | CUSIP: 74346Y103<br>LEI: 549300LPE1KNL5RWKQ48 | Long             | EC               | CORP              | US        |     22142 | NS      | $346743.72    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Pure Cycle Corp                            | Pure Cycle Corp.                               | CUSIP: 746228303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18858 | NS      | $202157.76    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Quipt Home Medical Corp                    | Quipt Home Medical Corp.                       | CUSIP: 74880P104<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     48685 | NS      | $87146.15     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Rackspace Technology Inc                   | Rackspace Technology, Inc.                     | CUSIP: 750102105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     67010 | NS      | $85772.80     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Ranpak Holdings Corp                       | Ranpak Holdings Corp.                          | CUSIP: 75321W103<br>LEI: 5493000Z9EZR9DCYOO86 | Long             | EC               | CORP              | US        |     78619 | NS      | $280669.83    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Anywhere Real Estate Inc                   | Anywhere Real Estate, Inc.                     | CUSIP: 75605Y106<br>LEI: 5493004HBTOTE9DI9P12 | Long             | EC               | CORP              | US        |     28560 | NS      | $103387.20    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Redwire Corp                               | Redwire Corp.                                  | CUSIP: 75776W103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12009 | NS      | $195746.70    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Regional Management Corp                   | Regional Management Corp.                      | CUSIP: 75902K106<br>LEI: 549300S5O87W87JW4146 | Long             | EC               | CORP              | US        |     19730 | NS      | $576313.30    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| KORU Medical Systems Inc                   | KORU Medical Systems, Inc.                     | CUSIP: 759910102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     64157 | NS      | $229682.06    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Resources Connection Inc                   | Resources Connection, Inc.                     | CUSIP: 76122Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     66265 | NS      | $355843.05    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Ribbon Communications Inc                  | Ribbon Communications, Inc.                    | CUSIP: 762544104<br>LEI: 549300L1E8Z8RL7CUL52 | Long             | EC               | CORP              | US        |     52108 | NS      | $208953.08    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocky Brands Inc                           | Rocky Brands, Inc.                             | CUSIP: 774515100<br>LEI: 5299004HQ6GCTW838N96 | Long             | EC               | CORP              | US        |      4106 | NS      | $91112.14     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Water Solutions Inc                 | Select Water Solutions, Inc.                   | CUSIP: 81617J301<br>LEI: 54930094OK8LA3QDW486 | Long             | EC               | CORP              | US        |    105564 | NS      | $912072.96    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SEMrush Holdings Inc                       | SEMrush Holdings, Inc.                         | CUSIP: 81686C104<br>LEI: 254900WQEX0OLGK16D27 | Long             | EC               | CORP              | US        |     18905 | NS      | $171090.25    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Seneca Foods Corp                          | Seneca Foods Corp.                             | CUSIP: 817070501<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1728 | NS      | $175271.04    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensus Healthcare Inc                      | Sensus Healthcare, Inc.                        | CUSIP: 81728J109<br>LEI: 549300F3JF8NCDJJZW04 | Long             | EC               | CORP              | US        |      7502 | NS      | $35559.48     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Shutterstock Inc                           | Shutterstock, Inc.                             | CUSIP: 825690100<br>LEI: 529900G2TDIS56V0LO22 | Long             | EC               | CORP              | US        |     19260 | NS      | $365169.60    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| SI-BONE Inc                                | SI-BONE, Inc.                                  | CUSIP: 825704109<br>LEI: 549300J8JGYVJJHV9C31 | Long             | EC               | CORP              | US        |     26226 | NS      | $493573.32    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Silvercrest Asset Management G             | Silvercrest Asset Management Group, Inc.       | CUSIP: 828359109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12827 | NS      | $203436.22    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ARS Pharmaceuticals Inc                    | ARS Pharmaceuticals, Inc.                      | CUSIP: 82835W108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10139 | NS      | $176925.55    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaris Energy Infrastructure              | Solaris Energy Infrastructure, Inc.            | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |     22353 | NS      | $632366.37    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Sportsman's Warehouse Holdings             | Sportsman's Warehouse Holdings, Inc.           | CUSIP: 84920Y106<br>LEI: 549300JVV8YLQSRSF462 | Long             | EC               | CORP              | US        |     89220 | NS      | $307809.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Stabilis Solutions Inc                     | Stabilis Solutions, Inc.                       | CUSIP: 85236P101<br>LEI: 549300DGSR537OJW7P62 | Long             | EC               | CORP              | US        |     12090 | NS      | $57427.50     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Stoke Therapeutics Inc                     | Stoke Therapeutics, Inc.                       | CUSIP: 86150R107<br>LEI: 549300RD25SS2DIJHJ67 | Long             | EC               | CORP              | US        |     19955 | NS      | $226489.25    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| SunOpta Inc                                | SunOpta, Inc.                                  | CUSIP: 8676EP108<br>LEI: 54930010CP0KEPPRPA40 | Long             | EC               | CORP              | CA        |     55606 | NS      | $322514.80    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Supernus Pharmaceuticals Inc               | Supernus Pharmaceuticals, Inc.                 | CUSIP: 868459108<br>LEI: 549300GRM36VBKISYJ58 | Long             | EC               | CORP              | US        |      9692 | NS      | $305491.84    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| SuRo Capital Corp                          | SuRo Capital Corp.                             | CUSIP: 86887Q109<br>LEI: 549300YR4IAV0VJFWN84 | Long             | EC               | CORP              | US        |     34599 | NS      | $284057.79    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Syndax Pharmaceuticals Inc                 | Syndax Pharmaceuticals, Inc.                   | CUSIP: 87164F105<br>LEI: 529900OF94TRHKZVBS87 | Long             | EC               | CORP              | US        |     29944 | NS      | $280425.56    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Taseko Mines Ltd                           | Taseko Mines, Ltd.                             | CUSIP: 876511106<br>LEI: 549300XKUO1JSLU7KX54 | Long             | EC               | CORP              | CA        |    131573 | NS      | $414454.95    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Taysha Gene Therapies Inc                  | Taysha Gene Therapies, Inc.                    | CUSIP: 877619106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     62040 | NS      | $143312.40    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Tectonic Therapeutic Inc                   | Tectonic Therapeutic, Inc.                     | CUSIP: 878972108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3198 | NS      | $63544.26     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares Inc               | Texas Capital Bancshares, Inc.                 | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |      7355 | NS      | $583987.00    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermon Group Holdings Inc                 | Thermon Group Holdings, Inc.                   | CUSIP: 88362T103<br>LEI: 529900ZNZBBLDE77MZ38 | Long             | EC               | CORP              | US        |     29096 | NS      | $817015.68    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Titan Machinery Inc                        | Titan Machinery, Inc.                          | CUSIP: 88830R101<br>LEI: 549300835ZM8G0BT5C94 | Long             | EC               | CORP              | US        |     12700 | NS      | $251587.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Transcat Inc                               | Transcat, Inc.                                 | CUSIP: 893529107<br>LEI: 54930081E40TSSHUOS40 | Long             | EC               | CORP              | US        |      6104 | NS      | $524699.84    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Trevi Therapeutics Inc                     | Trevi Therapeutics, Inc.                       | CUSIP: 89532M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17837 | NS      | $97568.39     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyra Biosciences Inc                       | Tyra Biosciences, Inc.                         | CUSIP: 90240B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9821 | NS      | $93986.97     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| US Physical Therapy Inc                    | US Physical Therapy, Inc.                      | CUSIP: 90337L108<br>LEI: 529900KL1UXQYFIOMY96 | Long             | EC               | CORP              | US        |      4198 | NS      | $328283.60    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultralife Corp                             | Ultralife Corp.                                | CUSIP: 903899102<br>LEI: 529900NVAFLKA00F3U05 | Long             | EC               | CORP              | US        |     17538 | NS      | $157491.24    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| American Coastal Insurance Cor             | American Coastal Insurance Corp.               | CUSIP: 910710102<br>LEI: 5299002P9105LJQA8G51 | Long             | EC               | CORP              | US        |    101988 | NS      | $1134106.56   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Unity Bancorp Inc                          | Unity Bancorp, Inc.                            | CUSIP: 913290102<br>LEI: 549300Q90ZRNUR65PL93 | Long             | EC               | CORP              | US        |      4699 | NS      | $221228.92    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Insurance Holdings I             | Universal Insurance Holdings, Inc.             | CUSIP: 91359V107<br>LEI: 529900GGAZ6WVUCWQM46 | Long             | EC               | CORP              | US        |      4985 | NS      | $138234.05    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Technical Institute              | Universal Technical Institute, Inc.            | CUSIP: 913915104<br>LEI: 2549003YOJGAZ0PVFV48 | Long             | EC               | CORP              | US        |      4358 | NS      | $147692.62    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Univest Financial Corp                     | Univest Financial Corp.                        | CUSIP: 915271100<br>LEI: 4WII2HCR8UEWNU03U507 | Long             | EC               | CORP              | US        |      7908 | NS      | $237556.32    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Utah Medical Products Inc                  | Utah Medical Products, Inc.                    | CUSIP: 917488108<br>LEI: 5493002R27BBGV8DID60 | Long             | EC               | CORP              | US        |      4649 | NS      | $264621.08    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| VAALCO Energy Inc                          | VAALCO Energy, Inc.                            | CUSIP: 91851C201<br>LEI: 549300CFHFVIWB8M6T24 | Long             | EC               | CORP              | US        |    115050 | NS      | $415330.50    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeco Instruments Inc                      | Veeco Instruments, Inc.                        | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |     15349 | NS      | $311891.68    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Veritex Holdings Inc                       | Veritex Holdings, Inc.                         | CUSIP: 923451108<br>LEI: 549300F3SMOML02SC814 | Long             | EC               | CORP              | US        |     20900 | NS      | $545490.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Pursuit Attractions and Hospit             | Pursuit Attractions and Hospitality, Inc.      | CUSIP: 92552R406<br>LEI: 549300PXU4ZW7LPO5Y40 | Long             | EC               | CORP              | US        |     12735 | NS      | $367150.05    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Viant Technology Inc                       | Viant Technology, Inc.                         | CUSIP: 92557A101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13878 | NS      | $183605.94    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Victoria's Secret & Co                     | Victoria's Secret & Co.                        | CUSIP: 926400102<br>LEI: 5493006T3O70U3UWVF17 | Long             | EC               | CORP              | US        |       646 | NS      | $11963.92     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Vishay Precision Group Inc                 | Vishay Precision Group, Inc.                   | CUSIP: 92835K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39668 | NS      | $1114670.80   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Wabash National Corp                       | Wabash National Corp.                          | CUSIP: 929566107<br>LEI: 5299004ZAWHQZI5XO485 | Long             | EC               | CORP              | US        |     41767 | NS      | $443983.21    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Climb Global Solutions Inc                 | Climb Global Solutions, Inc.                   | CUSIP: 946760105<br>LEI: 549300LKM16VX2FG7J68 | Long             | EC               | CORP              | US        |      5734 | NS      | $613021.94    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Whitestone REIT                            | Whitestone REIT                                | CUSIP: 966084204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18389 | NS      | $229494.72    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Worthington Steel Inc                      | Worthington Steel, Inc.                        | CUSIP: 982104101<br>LEI: 2549009ZUUWL3QLK6G24 | Long             | EC               | CORP              | US        |     13033 | NS      | $388774.39    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenon Pharmaceuticals Inc                  | Xenon Pharmaceuticals, Inc.                    | CUSIP: 98420N105<br>LEI: 549300XV44Q9Z1MIPQ03 | Long             | EC               | CORP              | CA        |      8722 | NS      | $272998.60    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Xeris Biopharma Holdings Inc               | Xeris Biopharma Holdings, Inc.                 | CUSIP: 98422E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30031 | NS      | $140244.77    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Zumiez Inc                                 | Zumiez, Inc.                                   | CUSIP: 989817101<br>LEI: 549300J0PDF58P6HZD25 | Long             | EC               | CORP              | US        |     17025 | NS      | $225751.50    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Zymeworks Inc                              | Zymeworks, Inc.                                | CUSIP: 98985Y108<br>LEI: 894500AHOYAGYLYZJL67 | Long             | EC               | CORP              | US        |     20378 | NS      | $255743.90    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Ichor Holdings Ltd                         | Ichor Holdings, Ltd.                           | CUSIP: G4740B105<br>LEI: 529900PS8R2JVLJ2H892 | Long             | EC               | CORP              | KY        |     16000 | NS      | $314240.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| International General Insuranc             | International General Insurance Holdings, Ltd. | CUSIP: G4809J106<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |     18822 | NS      | $452104.44    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Kiniksa Pharmaceuticals Intern             | Kiniksa Pharmaceuticals International PLC      | CUSIP: G52694109<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |      7131 | NS      | $197314.77    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Prothena Corp PLC                          | Prothena Corp. PLC                             | CUSIP: G72800108<br>LEI: 5299009ZXQ8NIIJ8OL30 | Long             | EC               | CORP              | IE        |      9738 | NS      | $59109.66     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Inmode Ltd                                 | Inmode, Ltd.                                   | CUSIP: M5425M103<br>LEI: 984500DD95A35E9BD358 | Long             | EC               | CORP              | IL        |     22301 | NS      | $322026.44    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Kornit Digital Ltd                         | Kornit Digital, Ltd.                           | CUSIP: M6372Q113<br>LEI: 5299006DPCQWP3VTFK34 | Long             | EC               | CORP              | IL        |     33372 | NS      | $664436.52    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Bladex                                     | Banco Latinoamericano de Comercio Exterior SA  | CUSIP: P16994132<br>LEI: 549300CN3134K4LC0651 | Long             | EC               | CORP              | PA        |      6860 | NS      | $276458.00    | 0.30%             |  |  |  | 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        |        10 | NC      | $1095850.00   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-26

**Name of Applicant:** Forum Funds II

**Signature:** /s/ Karen Shaw

**Name of Signer:** Karen Shaw

**Title:** Treasurer