# EDGAR Filing Document

**Accession Number:** 0000764859
**File Stem:** 0000910472-25-001898
**Filing Date:** 2025-9
**Character Count:** 67374
**Document Hash:** f8dbca9c1c3bf492e9ac864883b4d144
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-001898.hdr.sgml**: 20250929

**ACCESSION NUMBER**: 0000910472-25-001898

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250929

**DATE AS OF CHANGE**: 20250929

**PERIOD START**: 20260131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN PENSION INVESTORS TRUST
- **CENTRAL INDEX KEY:** 0000764859

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04262
- **FILM NUMBER:** 251354920

**BUSINESS ADDRESS:**
- **STREET 1:** 106 ANNJO COURT
- **STREET 2:** SUITE A
- **CITY:** FOREST
- **STATE:** VA
- **ZIP:** 24551
- **BUSINESS PHONE:** 434-846-1361

**MAIL ADDRESS:**
- **STREET 1:** 106 ANNJO COURT
- **STREET 2:** SUITE A
- **CITY:** FOREST
- **STATE:** VA
- **ZIP:** 24551

## Series and Classes Contracts Data

### Yorktown Growth Fund (Series ID: S000008424)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000023126 | Class L Shares      | APITX           |
| C000023127 | Class A Shares      | AFGGX           |
| C000127241 | Institutional Class | APGRX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** American Pension Investors Trust

- **b. Investment Company Act file number:** 811-04262

- **c. CIK number of Registrant:** 0000764859

- **d. LEI of Registrant:** 549300XN7GOBVVCYXP64

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

  - **Street Address 1:** 2303 Yorktown Ave.

  - **City:** Lynchburg

  - **State:** VA

  - **Foreign country:** US

  - **Zip / Postal Code:** 24501

  - **Telephone number:** 434-846-1361

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

- **a. Name of Series:** YORKTOWN GROWTH FUND

- **b. EDGAR series identifier (if any):** S000008424

- **c. LEI of Series:** 5493005TIRZAZOWP2K56

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

- **a. Date of fiscal year-end:** 2026-01-31

- **b. Date as of which information is reported:** 2025-07-31

**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:** $92644522.75

**Total Liabilities:** $143654.31

**Net Assets:** $92500868.44

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000023126 | 7.21%                | 4.32%                | 3.45%                |
| Class ID C000023127 | 1.06%                | -1.62%               | -2.35%               |
| Class ID C000127241 | 7.27%                | 4.38%                | 3.61%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1169503.65              | $4611517.13                                |
| Month 2  | $346336.10               | $3483700.68                                |
| Month 3  | $921626.55               | $2358789.62                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Embraer S.A.                                   | Embraer SA                                                | CUSIP: 29082A107<br>LEI: 549300EM51WYXFHUY333 | Long             | EC               | CORP              | BR        |      4200 | NS      | $241836.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc                            | Axon Enterprise, Inc.                                     | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |      1875 | NS      | $1416543.75   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Pacific Land Corporation                 | Texas Pacific Land Corp.                                  | CUSIP: 88262P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       480 | NS      | $464702.40    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc.                                | CBRE Group, Inc.                                          | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |      2700 | NS      | $420498.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Middleby Corp.                                 | Middleby Corp./The                                        | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |      3300 | NS      | $479160.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia Inc                                       | Saia, Inc.                                                | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |      1840 | NS      | $556121.60    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co.                       | Modine Manufacturing Co.                                  | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |      4150 | NS      | $558424.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc                           | Chart Industries, Inc.                                    | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |      1550 | NS      | $308186.50    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Xometry Inc                                    | Xometry, Inc.                                             | CUSIP: 98423F109<br>LEI: 5493006JFRGU7YRRXE44 | Long             | EC               | CORP              | US        |     11050 | NS      | $357357.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| HCI Group, Inc.                                | HCI Group, Inc.                                           | CUSIP: 40416E103<br>LEI: 549300CZF7EZJH0MPH74 | Long             | EC               | CORP              | US        |      1800 | NS      | $252072.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Hamilton Lane Inc                              | Hamilton Lane, Inc.                                       | CUSIP: 407497106<br>LEI: 5493006OKN3V1NORM833 | Long             | EC               | CORP              | US        |      3300 | NS      | $502590.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| DLocal Limited                                 | Dlocal Ltd./Uruguay                                       | CUSIP: G29018101<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     41500 | NS      | $425790.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Sezzle Inc.                                    | Sezzle Inc                                                | CUSIP: 78435P105<br>LEI: 9845000CA64541AE3I35 | Long             | EC               | CORP              | US        |      3950 | NS      | $611618.00    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                                    | Datadog, Inc.                                             | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |      4000 | NS      | $559920.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| TDK Corp.                                      | TDK Corp.                                                 | CUSIP: 872351408<br>LEI: 3538005O8WNU39U8NX03 | Long             | EC               | CORP              | JP        |     37500 | NS      | $460500.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| SEMrush Holdings Inc.                          | SEMrush Holdings Inc                                      | CUSIP: 81686C104<br>LEI: 254900WQEX0OLGK16D27 | Long             | EC               | CORP              | US        |     32500 | NS      | $291200.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Seek Ltd.                                      | SEEK Ltd.                                                 | CUSIP: 81572A105<br>LEI: 549300209NEKXBC8QO27 | Long             | EC               | CORP              | AU        |      9800 | NS      | $302232.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Corporacion America Airports SA                | Corporation America Airports S.A.                         | CUSIP: L1995B107<br>LEI: N/A                  | Long             | EC               | CORP              | LU        |     13600 | NS      | $270776.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial Inc.                   | Raymond James Financial, Inc.                             | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |      6450 | NS      | $1077988.50   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Transportadora de Gas del Sur S.A.             | Transportadora de Gas del Sur S.A.                        | CUSIP: 893870204<br>LEI: 5299002TRC7IFQYSW596 | Long             | EC               | CORP              | AR        |     10300 | NS      | $295610.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| James Hardie Industries PLC                    | James Hardie Industries PLC                               | CUSIP: G4253H101<br>LEI: 635400NSGXKTVOO7JU45 | Long             | EC               | CORP              | IE        |     12300 | NS      | $319062.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Hims & Hers Health Inc                         | Hims & Hers Health, Inc.                                  | CUSIP: 433000106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7750 | NS      | $512895.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Futu Holdings Ltd.                             | Futu Holdings Ltd                                         | CUSIP: 36118L106<br>LEI: 213800X4W4ZRESFPTQ37 | Long             | EC               | CORP              | KY        |      3500 | NS      | $537880.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Korn Ferry                                     | Korn/Ferry International                                  | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |      5700 | NS      | $403959.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Prysmian S.p.A.                                | Prysmian SpA                                              | CUSIP: 74440L106<br>LEI: 529900X0H1IO3RS1A464 | Long             | EC               | CORP              | IT        |     15000 | NS      | $600600.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Technologies Inc.                          | UFP TECHNOLOGIES, INC,                                    | CUSIP: 902673102<br>LEI: 549300RJ8LY41HS70C91 | Long             | EC               | CORP              | US        |      1550 | NS      | $350904.50    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corporation                      | Regal Rexnord Corp.                                       | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |      2300 | NS      | $351624.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Compagnie Financiere Richemont Sa              | Cie Financiere Richemont SA                               | CUSIP: 204319107<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |     25900 | NS      | $421134.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Interactive Brokers Group Inc                  | Interactive Brokers Group, Inc.                           | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |     12400 | NS      | $812944.00    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluidra SA                                     | Fluidra SA                                                | CUSIP: E52619108<br>LEI: 95980020140005026620 | Long             | EC               | CORP              | ES        |     15600 | NS      | $391247.14    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Alliance Bancorp                       | Western Alliance Bancorp                                  | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |      3700 | NS      | $286972.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Owl Capital Inc                           | Blue Owl Capital, Inc.                                    | CUSIP: 09581B103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16900 | NS      | $327015.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| SPS Commerce Inc                               | SPS Commerce, Inc.                                        | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Long             | EC               | CORP              | US        |      4330 | NS      | $471385.45    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Genius Sports Limited                          | Genius Sports Ltd.                                        | CUSIP: G3934V109<br>LEI: N/A                  | Long             | EC               | CORP              | GG        |     62700 | NS      | $705375.00    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Installed Building Products Inc                | Installed Building Products, Inc.                         | CUSIP: 45780R101<br>LEI: 549300I95Y9P9YM5FI86 | Long             | EC               | CORP              | US        |      1300 | NS      | $262977.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| InterDigital, Inc.                             | InterDigital, Inc.                                        | CUSIP: 45867G101<br>LEI: 529900HQAUTC3VI47G64 | Long             | EC               | CORP              | US        |      1450 | NS      | $374390.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Straumann Holding AG                           | Straumann Holding AG                                      | CUSIP: 86317T103<br>LEI: 50670046ML5FVIM60Z37 | Long             | EC               | CORP              | CH        |     23000 | NS      | $278760.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies, Inc.                         | SPX Technologies, Inc.                                    | CUSIP: 78473E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2700 | NS      | $492453.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Tootsie Roll Industries Inc.                   | Tootsie Roll Industries, Inc.                             | CUSIP: 890516107<br>LEI: 529900SBKOV9XX4M4Q35 | Long             | EC               | CORP              | US        |     10300 | NS      | $390679.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Cyberark Software Ltd.                         | CyberArk Software Ltd.                                    | CUSIP: M2682V108<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               | CORP              | IL        |      3100 | NS      | $1275557.00   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Aeroportuario del Sureste S.A.B. de C.V. | Grupo Aeroportuario del Sureste SAB de CV                 | CUSIP: 40051E202<br>LEI: 5299001W7JIDXCUOUC82 | Long             | EC               | CORP              | MX        |      1390 | NS      | $421600.90    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurn Elkay Water Solutions Corporation         | Zurn Water Solutions, Inc.                                | CUSIP: 98983L108<br>LEI: 549300AM3633XDFU1Q85 | Long             | EC               | CORP              | US        |      9750 | NS      | $431437.50    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors, Inc.                            | Clean Harbors, Inc.                                       | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |      1450 | NS      | $341924.50    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc.                          | BWX Technologies, Inc.                                    | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |      4700 | NS      | $714071.00    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| API Group Corp                                 | API Group Corp.                                           | CUSIP: 00187Y100<br>LEI: 213800NZT1VX6PZ7BT53 | Long             | EC               | CORP              | US        |     15150 | NS      | $546460.50    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corporation                            | Visteon Corp.                                             | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |      2000 | NS      | $222300.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashtead Group PLC                              | Ashtead Group PLC                                         | CUSIP: 045055100<br>LEI: 2138007UTBN8X9K1A235 | Long             | EC               | CORP              | GB        |      2050 | NS      | $556062.50    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc                     | Neurocrine Biosciences Inc.                               | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |      2250 | NS      | $288517.50    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Bentley Systems Incorporated                   | Bentley Systems, Inc.                                     | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |      6100 | NS      | $353678.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Micro Computer Inc.                      | Super Micro Computer, Inc.                                | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |     11250 | NS      | $663412.50    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| McGrath RentCorp.                              | McGrath RentCorp                                          | CUSIP: 580589109<br>LEI: 254900EUH6IPWFQ83445 | Long             | EC               | CORP              | US        |      2850 | NS      | $355651.50    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc.                           | Eagle Materials, Inc.                                     | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |      1650 | NS      | $370078.50    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd                              | FTAI Aviation Ltd.                                        | CUSIP: G3730V105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      5800 | NS      | $798138.00    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group Co.                     | Performance Food Group Co.                                | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |      5630 | NS      | $565252.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corporation                   | Stifel Financial Corp.                                    | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |      4900 | NS      | $559188.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp.                                      | KLA-Tencor Corp.                                          | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |       890 | NS      | $782336.70    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Ralph Lauren Corp.                             | Ralph Lauren Corp.                                        | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |       700 | NS      | $209125.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonova Holding AG                              | Sonova Holding AG                                         | CUSIP: 83569C102<br>LEI: 5299004A0QNX7FBNHS61 | Long             | EC               | CORP              | CH        |      6780 | NS      | $368764.20    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Core & Main Inc                                | Core & Main, Inc.                                         | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13300 | NS      | $846412.00    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackline Inc                                  | Blackline, Inc.                                           | CUSIP: 09239B109<br>LEI: 529900P9N7PK9LV5EK56 | Long             | EC               | CORP              | US        |      5500 | NS      | $295790.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Digital Corp                           | Applied Blockchain, Inc.                                  | CUSIP: 038169207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30350 | NS      | $398799.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                                   | Fortinet, Inc.                                            | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |      4950 | NS      | $494505.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Jack & Associates Inc.                   | Jack Henry & Associates, Inc.                             | CUSIP: 426281101<br>LEI: 529900X1QS8C54W0JB21 | Long             | EC               | CORP              | US        |      2850 | NS      | $483972.75    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Qualys Inc                                     | Qualys, Inc.                                              | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |      4700 | NS      | $625429.00    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneX Group Inc                               | StoneX Group, Inc.                                        | CUSIP: 861896108<br>LEI: 549300JUF07L8VF02M60 | Long             | EC               | CORP              | US        |      7200 | NS      | $700128.00    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT Inc                                        | ITT, Inc.                                                 | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |      3300 | NS      | $560868.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaspi.Kz JSC                                   | Kaspi.KZ JSC                                              | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               | CORP              | KZ        |      4550 | NS      | $358995.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Givaudan SA                                    | Givaudan SA                                               | CUSIP: 37636P108<br>LEI: 213800SVRMQA1TD91D41 | Long             | EC               | CORP              | CH        |      5100 | NS      | $426768.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Lithia Motors Incorporated                     | Lithia Motors, Inc.                                       | CUSIP: 536797103<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | EC               | CORP              | US        |      2100 | NS      | $604800.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financial                            | Synchrony Financial                                       | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |      6000 | NS      | $418020.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Varonis Systems Inc                            | Varonis Systems, Inc.                                     | CUSIP: 922280102<br>LEI: 549300SHIVNRRH7STS26 | Long             | EC               | CORP              | US        |      5950 | NS      | $332188.50    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ASM International N.V.                         | ASM International SE                                      | CUSIP: N07045102<br>LEI: 7245001I22ND6ZFHX623 | Long             | EC               | CORP              | NL        |      1070 | NS      | $517965.60    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Toast Inc                                      | Toast, Inc.                                               | CUSIP: 888787108<br>LEI: 549300TN1PZNLCD4I551 | Long             | EC               | CORP              | US        |      7600 | NS      | $371184.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Pharmaceuticals Inc.                  | Catalyst Pharmaceuticals, Inc.                            | CUSIP: 14888U101<br>LEI: 5299004O0R5XXLA5H544 | Long             | EC               | CORP              | US        |     17300 | NS      | $369009.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingredion Incorporated                         | Ingredion, Inc.                                           | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |      2550 | NS      | $335427.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Oddity Tech Ltd.                               | Oddity Tech Ltd.                                          | CUSIP: M7518J104<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |      5650 | NS      | $395895.50    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Primoris Services Corp.                        | Primoris Services Corp.                                   | CUSIP: 74164F103<br>LEI: 549300UF3OLBJ8D5K349 | Long             | EC               | CORP              | US        |      4100 | NS      | $386097.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co Inc.                                  | KKR & Co. LP                                              | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |      7200 | NS      | $1055376.00   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Shift4 Payments Inc                            | Shift4 Payments, Inc.                                     | CUSIP: 82452J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4400 | NS      | $453200.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Pulte Group Inc                                | PulteGroup, Inc.                                          | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4000 | NS      | $451680.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Penumbra Inc.                                  | Penumbra, Inc.                                            | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |      3000 | NS      | $756810.00    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Descartes Systems Group Inc.                   | Descartes Systems Group, Inc./The                         | CUSIP: 249906108<br>LEI: 875500NEPA7JI5EOMN45 | Long             | EC               | CORP              | CA        |     10800 | NS      | $1142208.00   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc                              | Veeva Systems, Inc.                                       | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |      1650 | NS      | $468930.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle Financial Partners Inc.               | Pinnacle Financial Partners, Inc.                         | CUSIP: 72346Q104<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EC               | CORP              | US        |      2500 | NS      | $219725.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Life360 Inc.                                   | Life360, Inc.                                             | CUSIP: 532206109<br>LEI: 254900VO9VDOQBQAHF07 | Long             | EC               | CORP              | US        |      9000 | NS      | $689310.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| GMS Inc                                        | GMS, INC.                                                 | CUSIP: 36251C103<br>LEI: 52990057RENOQO4U0D72 | Long             | EC               | CORP              | US        |      3100 | NS      | $339884.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                            | Huntington Conservative Deposit Account                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |    341871 | PA      | $341870.89    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Renaissancere Holdings Ltd.                    | RenaissanceRe Holdings Ltd.                               | CUSIP: G7496G103<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EC               | CORP              | BM        |      1450 | NS      | $353423.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Lime & Minerals Inc.             | UNITED STATES LIME & MINERAL INC.                         | CUSIP: 911922102<br>LEI: 549300VGDEEG8RT7VC89 | Long             | EC               | CORP              | US        |      4125 | NS      | $410767.50    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc                      | Kinsale Capital Group, Inc.                               | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |      1300 | NS      | $572897.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyward Specialty Insurance Group Inc          | Skyward Specialty Insurance                               | CUSIP: 830940102<br>LEI: 549300GXGXJG0YH4VN21 | Long             | EC               | CORP              | US        |      4450 | NS      | $225081.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems Inc.                  | Monolithic Power Systems, Inc.                            | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |       650 | NS      | $462306.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprouts Farmers Markets Inc                    | Sprouts Farmers Market, Inc.                              | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |      4350 | NS      | $659199.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                                     | Copart, Inc.                                              | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |      9400 | NS      | $426102.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Wesco International, Inc.                      | WESCO International, Inc.                                 | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |      3600 | NS      | $745056.00    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Okta Inc.                                      | Okta, Inc.                                                | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |      4100 | NS      | $400980.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc                          | Uber Technologies, Inc.                                   | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |      4000 | NS      | $351000.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolution AB                                   | Evolution Game Group AB                                   | CUSIP: 30051E104<br>LEI: 549300SUH6ZR1RF6TA88 | Long             | EC               | CORP              | SE        |      2300 | NS      | $204585.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Topbuild Corporation                           | TopBuild Corp.                                            | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |      1300 | NS      | $481559.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Inc                                        | PTC, Inc.                                                 | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |      2800 | NS      | $601468.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| TG Therapeutics Inc                            | TG Therapeutics, Inc.                                     | CUSIP: 88322Q108<br>LEI: 529900X21UKABN9NJ529 | Long             | EC               | CORP              | US        |     10650 | NS      | $378075.00    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ExlService Holdings Inc.                       | ExlService Holdings, Inc.                                 | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |     12100 | NS      | $525503.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings Inc.                          | Medpace Holdings, Inc.                                    | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |      1800 | NS      | $768960.00    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries, Inc.                         | Dycom Industries, Inc.                                    | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |      1476 | NS      | $396763.56    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Leonardo DRS Inc                               | Leonardo DRS Inc                                          | CUSIP: 52661A108<br>LEI: 549300HMMEWVG3PPQU18 | Long             | EC               | CORP              | US        |      7900 | NS      | $328640.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                       | Fabrinet                                                  | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |      3800 | NS      | $1230174.00   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Paycom Software Inc                            | Paycom Software, Inc.                                     | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |      2100 | NS      | $486234.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Electric Co Inc                       | Franklin Electric Co., Inc.                               | CUSIP: 353514102<br>LEI: RR6AURIKMXUE4Q24G284 | Long             | EC               | CORP              | US        |      6000 | NS      | $563700.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Doximity Inc                                   | Doximity, Inc.                                            | CUSIP: 26622P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7200 | NS      | $423000.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co Inc.                  | Simpson Manufacturing Co., Inc.                           | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |      1900 | NS      | $340917.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Rush Street Interactive Inc                    | Rush Street Interactive, Inc.                             | CUSIP: 782011100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26900 | NS      | $542304.00    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodward Inc.                                  | Woodward, Inc.                                            | CUSIP: 980745103<br>LEI: YPYKXXTR8TFDH54ZMB45 | Long             | EC               | CORP              | US        |      2750 | NS      | $706970.00    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp.                           | Curtiss-Wright Corp.                                      | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |      1400 | NS      | $686308.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingersoll Rand Inc                             | Ingersoll Rand, Inc.                                      | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |      9700 | NS      | $820911.00    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Advantest Corp.                                | Advantest Corp.                                           | CUSIP: 00762U200<br>LEI: 353800EMK32PDKS9XR54 | Long             | EC               | CORP              | JP        |      5400 | NS      | $360342.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| DSV AS                                         | DSV PANALPINA A/S                                         | CUSIP: 26251A108<br>LEI: 529900X41C0BSLK67H70 | Long             | EC               | CORP              | DK        |      3850 | NS      | $432470.50    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Commvault Systems Inc.                         | Commvault Systems, Inc.                                   | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               | CORP              | US        |      1650 | NS      | $313417.50    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Paylocity Holding Corporation                  | Paylocity Holdings Corp.                                  | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |      3300 | NS      | $610104.00    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc.                        | Tyler Technologies, Inc.                                  | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |      1650 | NS      | $964524.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastec, Inc.                                   | MasTec, Inc.                                              | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |      2200 | NS      | $416262.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Customers Bancorp, Inc.                        | Customers Bancorp, Inc.                                   | CUSIP: 23204G100<br>LEI: 549300WLBCHYKZ53FN68 | Long             | EC               | CORP              | US        |      4850 | NS      | $309187.50    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynatrace Inc                                  | Dynatrace, Inc.                                           | CUSIP: 268150109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10600 | NS      | $557666.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Piper Sandler Companies                        | Piper Jaffray Cos.                                        | CUSIP: 724078100<br>LEI: QUQDBTUSOAKFEVMRMF78 | Long             | EC               | CORP              | US        |      1060 | NS      | $334239.20    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstService Corp.                             | FirstService Corp.                                        | CUSIP: 33767E202<br>LEI: 5493000XUDIV75BCF118 | Long             | EC               | CORP              | CA        |      2300 | NS      | $453606.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Ensign Group Inc                               | Ensign Group, Inc./The                                    | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |      1400 | NS      | $210000.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Celestica Inc.                                 | Celestica, Inc.                                           | CUSIP: 15101Q207<br>LEI: 549300J3CG5T6RZWLN53 | Long             | EC               | CORP              | CA        |      2450 | NS      | $489657.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Globus Med Inc                                 | Globus Medical, Inc.                                      | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |      6400 | NS      | $336832.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings Inc                               | RBC Bearings, Inc.                                        | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1000 | NS      | $387340.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| White Mountains Insurance Group Ltd.           | White Mountains Insurance Group Ltd.                      | CUSIP: G9618E107<br>LEI: 549300N3FL068JERBG02 | Long             | EC               | CORP              | BM        |       220 | NS      | $393316.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Life Time Group Holdings Inc                   | Life Time Group Holdings, Inc.                            | CUSIP: 53190C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8500 | NS      | $244120.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CECO Environmental Corp.                       | CECO Environmental Corp.                                  | CUSIP: 125141101<br>LEI: 5493002CZCTL4HGLIY91 | Long             | EC               | CORP              | US        |      9700 | NS      | $436015.00    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group Inc.                         | TransMedics Group Inc                                     | CUSIP: 89377M109<br>LEI: 549300060GVOSMWARH50 | Long             | EC               | CORP              | US        |      3500 | NS      | $416395.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Teledyne Technologies Inc                      | Teledyne Technologies, Inc.                               | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |       900 | NS      | $495918.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| TD Synnex Corp                                 | TD SYNNEX Corp.                                           | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |      2700 | NS      | $389853.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries Inc.                        | Mueller Industries, Inc.                                  | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |      7800 | NS      | $665886.00    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorman Products Inc.                           | Dorman Products, Inc.                                     | CUSIP: 258278100<br>LEI: 2549000O0BBUX740XR59 | Long             | EC               | CORP              | US        |      3700 | NS      | $446294.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| HA Sustainable Infrastructure Capital Inc      | Hannon Armstrong Sustainable Infrastructure Capital, Inc. | CUSIP: 41068X100<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | EC               | CORP              | US        |     11550 | NS      | $299953.50    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Dutch Bros Inc                                 | Dutch Bros Inc.                                           | CUSIP: 26701L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10300 | NS      | $610481.00    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Herc Holdings Inc                              | HERC HOLDINGS IN                                          | CUSIP: 42704L104<br>LEI: 549300TP80QLITMSBP82 | Long             | EC               | CORP              | US        |      2300 | NS      | $268663.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Pampa Energia SA                               | Pampa Energia SA                                          | CUSIP: 697660207<br>LEI: 254900QNIK0CVURGML24 | Long             | EC               | CORP              | AR        |     12900 | NS      | $981045.00    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Insmed Inc                                     | Insmed, Inc.                                              | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |      3750 | NS      | $402300.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Houlihan Lokey Inc.                            | Houlihan Lokey, Inc.                                      | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |      3850 | NS      | $734041.00    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Guidewire Software Inc                         | Guidewire Software, Inc.                                  | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |      1400 | NS      | $316708.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Cogent Communications Holdings, Inc.           | COGENT COMMUNICATIONS HOLDINGS INC.                       | CUSIP: 19239V302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5850 | NS      | $266701.50    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Naspers Limited                                | Naspers Ltd.                                              | CUSIP: 631512209<br>LEI: 21380044BQ8812EEKT59 | Long             | EC               | CORP              | ZA        |      9200 | NS      | $567732.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Argenx SE                                      | Argenx SE                                                 | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |       425 | NS      | $284890.25    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Rollins Inc                                    | Rollins, Inc.                                             | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               | CORP              | US        |      7300 | NS      | $418071.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Reddit Inc                                     | Reddit, Inc.                                              | CUSIP: 75734B100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2650 | NS      | $425563.50    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey'S General Stores Inc.                    | Casey's General Stores, Inc.                              | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |      1200 | NS      | $624156.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Dave Inc                                       | Dave Inc                                                  | CUSIP: 23834J201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1750 | NS      | $412650.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Duolingo Inc                                   | Duolingo Inc                                              | CUSIP: 26603R106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       575 | NS      | $199266.25    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Firstcash Holdings Inc                         | FirstCash Holdings, Inc.                                  | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2300 | NS      | $306567.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Payoneer Global Inc.                           | Payoneer Global, Inc.                                     | CUSIP: 70451X104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     52000 | NS      | $341640.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Lonza Group AG                                 | Lonza Group AG                                            | CUSIP: 54338V101<br>LEI: 549300EFW4H2TCZ71055 | Long             | EC               | CORP              | CH        |      4600 | NS      | $320850.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Paymentus Holdings Inc                         | Paymentus Holdings, Inc.                                  | CUSIP: 70439P108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10800 | NS      | $301104.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc.                    | LPL Financial Holdings, Inc.                              | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |      2990 | NS      | $1183232.70   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| IES Holdings Inc.                              | IES Holdings, Inc.                                        | CUSIP: 44951W106<br>LEI: 549300687T8E6LN6EN72 | Long             | EC               | CORP              | US        |      5400 | NS      | $1906578.00   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawkins Inc                                    | Hawkins, Inc.                                             | CUSIP: 420261109<br>LEI: 549300VL3IJ23OWX1Y34 | Long             | EC               | CORP              | US        |      3700 | NS      | $604136.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Sse PLC                                        | SSE PLC                                                   | CUSIP: 78467K107<br>LEI: 549300KI75VYLLMSK856 | Long             | EC               | CORP              | GB        |     14400 | NS      | $352368.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Prysmian S.p.A.                                | Prysmian Spa                                              | CUSIP: T7630L105<br>LEI: 529900X0H1IO3RS1A464 | Long             | EC               | CORP              | IT        |     14400 | NS      | $1157460.03   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Sportradar Group AG                            | Sportradar Group AG                                       | CUSIP: H8088L103<br>LEI: 549300H1P33YOAT7Z533 | Long             | EC               | CORP              | CH        |     28500 | NS      | $842745.00    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Boerse AG                             | Deutsche Boerse AG                                        | CUSIP: 251542106<br>LEI: 529900G3SW56SHYNPR95 | Long             | EC               | CORP              | DE        |     31000 | NS      | $895280.00    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Monotaro CoLtd                                 | MonotaRO Co. Ltd.                                         | CUSIP: 61022V107<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     29500 | NS      | $532961.75    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Camtek Limited                                 | Camtek Ltd.                                               | CUSIP: M20791105<br>LEI: 5493000H80W07HCKGS43 | Long             | EC               | CORP              | IL        |      5200 | NS      | $489580.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Stock Yards Bancorp Inc.                       | Stock Yards Bancorp, Inc.                                 | CUSIP: 861025104<br>LEI: 549300YERP9H5TDIQW16 | Long             | EC               | CORP              | US        |      8100 | NS      | $605556.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Asics Corp                                     | Asics Corporation                                         | CUSIP: 04521N101<br>LEI: 3538002LJMRZ83SU0B85 | Long             | EC               | CORP              | JP        |     24000 | NS      | $568080.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Ringcentral Inc                                | RingCentral, Inc.                                         | CUSIP: 76680R206<br>LEI: 549300C8EH0H1614VE84 | Long             | EC               | CORP              | US        |     13050 | NS      | $332644.50    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA Inc.                       | Comfort Systems USA, Inc.                                 | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |      3500 | NS      | $2461550.00   | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc                            | Arista Networks Inc                                       | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      9800 | NS      | $1207556.00   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Digi International Inc.                        | Digi International, Inc.                                  | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |     13700 | NS      | $446757.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Radnet Inc                                     | RADNET, INC.                                              | CUSIP: 750491102<br>LEI: 529900RECG94V2IZJ970 | Long             | EC               | CORP              | US        |      5350 | NS      | $292805.50    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Krystal Biotech Inc                            | Krystal Biotech, Inc.                                     | CUSIP: 501147102<br>LEI: 549300YONUY68210OE41 | Long             | EC               | CORP              | US        |      2000 | NS      | $307740.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| On Holding AG                                  | On Holding AG                                             | CUSIP: H5919C104<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |      8600 | NS      | $417702.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| DISCO Corp.                                    | Disco Corp.                                               | CUSIP: 25461D100<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     23050 | NS      | $683663.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Kingspan Group PLC                             | Kingspan Group PLC                                        | CUSIP: 496402108<br>LEI: 635400HM7V74SUB9OG75 | Long             | EC               | CORP              | IE        |      4650 | NS      | $385996.50    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Gold Fields Ltd                                | Gold Fields Ltd.                                          | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |     22750 | NS      | $554190.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| The Trade Desk Inc                             | Trade Desk, Inc./The                                      | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |      5700 | NS      | $495672.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Heico Corp                                     | HEICO Corp.                                               | CUSIP: 422806109<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |      1280 | NS      | $418304.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles River Laboratories International, Inc. | Charles River Laboratories International, Inc.            | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |      1800 | NS      | $305352.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Patria Investments Limited                     | Patria Investments Ltd                                    | CUSIP: G69451105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     34000 | NS      | $474300.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-31

**Name of Applicant:** American Pension Investors Trust

**Signature:** Gregory Knoth

**Name of Signer:** Gregory Knoth

**Title:** SVP, Mutual Fund Controller