# EDGAR Filing Document

**Accession Number:** 0001467631
**File Stem:** 0001193125-25-297252
**Filing Date:** 2025-11
**Character Count:** 73498
**Document Hash:** 742dcf440a82758aa2dfe9436ee0e640
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-297252.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001193125-25-297252

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ACAP Strategic Fund
- **CENTRAL INDEX KEY:** 0001467631

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22312
- **FILM NUMBER:** 251521475

**BUSINESS ADDRESS:**
- **STREET 1:** 350 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-716-6591

**MAIL ADDRESS:**
- **STREET 1:** 350 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ACAP Global Fund
- **DATE OF NAME CHANGE:** 20091002

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Alkeon Global Fund
- **DATE OF NAME CHANGE:** 20090915

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Madison Avenue Global Fund
- **DATE OF NAME CHANGE:** 20090702

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** ACAP Strategic Fund

- **b. Investment Company Act file number:** 811-22312

- **c. CIK number of Registrant:** 0001467631

- **d. LEI of Registrant:** 5493007EPPSEZQ0DLH75

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

  - **Street Address 1:** 350 Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

  - **Telephone number:** 212-716-6840

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

- **a. Name of Series:** ACAP Strategic Fund

- **c. LEI of Series:** N/A

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-09-30

**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:** $16404077563.56

**Total Liabilities:** $5754114898.10

**Net Assets:** $10649962665.46

**Cash Not Reported:** $175924761.33

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000843102 | 4.72%                | -1.31%               | 5.11%                |
| Class ID C000843201 | 4.81%                | -1.22%               | 5.12%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $170031244.45            | $161291049.53                              |
| Month 2  | $-67175299.78            | $-12272203.97                              |
| Month 3  | $-8241685.48             | $359900061.12                              |

**Designated Index Information**

- **Index Name:** MSCI World Index

- **Index Identifier:** MXWO Index

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| argenx SE                                                         | Common Stock                     | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |      86544 | NS      | $63831392.64   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Full Truck Alliance-Spn ADR                                       | Common Stock                     | CUSIP: 35969L108<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    7000305 | NS      | $90793955.85   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| JD.com Inc                                                        | Common Stock                     | CUSIP: 47215P106<br>LEI: 549300HVTWB0GJZ16V92 | Long             | EC               | CORP              | CN        |    1246873 | NS      | $43615617.54   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| KE Holdings Inc.                                                  | Common Stock                     | CUSIP: 482497104<br>LEI: 254900RHVY072XPAZE03 | Long             | EC               | CORP              | CN        |    1059794 | NS      | $20136086.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| New Oriental Education & Technology Group Inc.                    | Common Stock                     | CUSIP: 647581206<br>LEI: 529900NHZVBZQZ8EKN29 | Long             | EC               | CORP              | CN        |     714398 | NS      | $37913101.86   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Company Limited                | Common Stock                     | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    2445695 | NS      | $683058156.55  | 6.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ANHEUSER-BUSCH INBEV                                              | Common Stock                     | CUSIP: 03524A108<br>LEI: 5493008H3828EMEXB082 | Short            | EC               | CORP              | BE        |    -297226 | NS      | $-17717641.86  | -0.17%            |  |  |  | No            |                  1 | On Loan: No      |
| ARM HOLDINGS PLC                                                  | Common Stock                     | CUSIP: N/A<br>LEI: 2138001E66EELTE7Y904       | Short            | EC               | CORP              | GB        |    -791101 | NS      | $-111932880.49 | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Bilibili Inc                                                      | Common Stock                     | CUSIP: N/A<br>LEI: 5493008V60M52L3PIS45       | Short            | EC               | CORP              | CN        |   -1435007 | NS      | $-40309346.63  | -0.38%            |  |  |  | No            |                  1 | On Loan: No      |
| INFOSYS LIMITED                                                   | Common Stock                     | CUSIP: 456788108<br>LEI: 335800TYLGG93MM7PR89 | Short            | EC               | CORP              | IN        |    -990752 | NS      | $-16119535.04  | -0.15%            |  |  |  | No            |                  1 | On Loan: No      |
| NIO INC.                                                          | Common Stock                     | CUSIP: 62914V106<br>LEI: 549300JBU4TV5OCKJV96 | Short            | EC               | CORP              | CN        |   -2230812 | NS      | $-16998787.44  | -0.16%            |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                                       | Common Stock                     | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Short            | EC               | CORP              | CH        |    -545137 | NS      | $-69908368.88  | -0.66%            |  |  |  | No            |                  1 | On Loan: No      |
| XPeng Inc                                                         | Common Stock                     | CUSIP: 98422D105<br>LEI: 549300TZNMIREMWQU857 | Short            | EC               | CORP              | CN        |   -1730669 | NS      | $-40532267.98  | -0.38%            |  |  |  | No            |                  1 | On Loan: No      |
| Adidas AG                                                         | Common Stock                     | CUSIP: N/A<br>LEI: 549300JSX0Z4CW0V5023       | Long             | EC               | CORP              | DE        |     313729 | NS      | $66132504.58   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                                                         | Common Stock                     | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               | CORP              | FR        |    2449679 | NS      | $568190795.70  | 5.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Akero Therapeutics, Inc.                                          | Common Stock                     | CUSIP: 00973Y108<br>LEI: 549300SI3KG74LBE2955 | Long             | EC               | CORP              | US        |     884572 | NS      | $41999478.56   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                                    | Common Stock                     | CUSIP: N/A<br>LEI: ZXTILKJKG63JELOEG630       | Long             | EC               | CORP              | US        |    2620552 | NS      | $575394602.64  | 5.40%             |  |  |  | No            |                  1 | On Loan: No      |
| AMPHENOL CORPORATION                                              | Common Stock                     | CUSIP: N/A<br>LEI: 549300D3L3G0R4U4VT04       | Long             | EC               | CORP              | US        |    1981074 | NS      | $245157907.50  | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc                                                | Common Stock                     | CUSIP: N/A<br>LEI: GYVOE5EZ4GDAVTU4CQ61       | Long             | EC               | CORP              | US        |    1346630 | NS      | $330866991.00  | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BioCryst Pharmaceuticals Inc                                      | Common Stock                     | CUSIP: 09058V103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    2698091 | NS      | $20478510.69   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Block, Inc.                                                       | Common Stock                     | CUSIP: 852234103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     425454 | NS      | $30747560.58   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Burlington Stores, Inc.                                           | Common Stock                     | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |     259632 | NS      | $66076344.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc                                              | Common Stock                     | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |     780405 | NS      | $143883269.85  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| BYD Co., Ltd.                                                     | Common Stock                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |    5394000 | NS      | $76399516.73   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc                                                  | Common Stock                     | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | AR        |     114343 | NS      | $267212730.42  | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                                              | Common Stock                     | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     841178 | NS      | $617744299.64  | 5.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                                    | Common Stock                     | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     916402 | NS      | $474650415.90  | 4.46%             |  |  |  | No            |                  1 | On Loan: No      |
| MTU Aero Engines AG                                               | Common Stock                     | CUSIP: N/A<br>LEI: 529900807L67JY81RD65       | Long             | EC               | CORP              | DE        |     280096 | NS      | $128650193.55  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| NIQ Global Intelligence plc                                       | Common Stock                     | CUSIP: G63755105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     883985 | NS      | $13878564.50   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| NISOURCE INC.                                                     | Common Stock                     | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |    1533318 | NS      | $66392669.40   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corporation                                                | Common Stock                     | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |    1076416 | NS      | $302731235.84  | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Oric Pharmaceuticals, Inc.                                        | Common Stock                     | CUSIP: 68622P109<br>LEI: 54930033FJRNEYBW0L25 | Long             | EC               | CORP              | US        |    2226067 | NS      | $26712804.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| QUANTA SERVICES, INC.                                             | Common Stock                     | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |     343499 | NS      | $142352855.58  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Rhythm Pharmaceuticals, Inc.                                      | Common Stock                     | CUSIP: 76243J105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     502832 | NS      | $50781003.68   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores, Inc.                                                 | Common Stock                     | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |     349230 | NS      | $53219159.70   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc.                                                   | Common Stock                     | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      93994 | NS      | $45747819.74   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                                                         | Common Stock                     | CUSIP: N/A<br>LEI: 213800B23SEQ8MCV2T21       | Long             | EC               | CORP              | FR        |    1588373 | NS      | $560088116.37  | 5.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Sherwin-Williams Co                                               | Common Stock                     | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |     149809 | NS      | $51872864.34   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens Energy AG                                                 | Common Stock                     | CUSIP: N/A<br>LEI: 5299005CHJZ14D4FDJ62       | Long             | EC               | CORP              | DE        |    4697637 | NS      | $548770907.92  | 5.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Financial Group Inc.                                         | Common Stock                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |   13681500 | NS      | $15192917.40   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Corp                                                         | Common Stock                     | CUSIP: N/A<br>LEI: 529900R5WX9N2OI2N910       | Long             | EC               | CORP              | JP        |   13681500 | NS      | $394552652.63  | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C Technologies Holdings Inc                                    | Common Stock                     | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |     870879 | NS      | $77299220.04   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| STANDARD AERO LIMITED STANDAERO LIMITEE                           | Common Stock                     | CUSIP: 85423L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     964750 | NS      | $26328027.50   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Transdigm Inc.                                                    | Common Stock                     | CUSIP: 893641100<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | EC               | CORP              | US        |      92632 | NS      | $122090828.64  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies, Inc.                                           | Common Stock                     | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |    1578468 | NS      | $154642509.96  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| VERTIV HOLDINGS CO                                                | Common Stock                     | CUSIP: 92537N108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     356672 | NS      | $53807537.92   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                                          | Common Stock                     | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     704669 | NS      | $240559903.22  | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                                                       | Common Stock                     | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Short            | EC               | CORP              | US        |     -99374 | NS      | $-23922303.02  | -0.22%            |  |  |  | No            |                  1 | On Loan: No      |
| Yum! Brands Inc                                                   | Common Stock                     | CUSIP: N/A<br>LEI: 549300JE8XHZZ7OHN517       | Short            | EC               | CORP              | HK        |   -2967600 | NS      | $-20596678.83  | -0.19%            |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc, Class A                                             | Counterparty-issue swap on CORP  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |  153780816 | OU      | $485665025.44  | 4.56%             |  |  |  | No            |                  2 | On Loan: No      |
| B3 SA - Brasil Bolsa Balcao                                       | Counterparty-issue swap on CORP  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | BR        |   65511223 | OU      | $-3517031.56   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Carlyle Group Inc                                                 | Counterparty-issue swap on CORP  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |   49301209 | OU      | $104133774.85  | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Cellnex Telecom SA                                                | Counterparty-issue swap on CORP  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | ES        |   29369227 | OU      | $6686572.91    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| DELTA ELECTRONICS, INC.                                           | Counterparty-issue swap on CORP  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | TW        |   40056189 | OU      | $61657185.44   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| ROLLS-ROYCE HOLDINGS PLC                                          | Counterparty-issue swap on CORP  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | GB        |  144516781 | OU      | $189699724.35  | 1.78%             |  |  |  | No            |                  2 | On Loan: No      |
| AU Optronics Corporation                                          | Counterparty-issue swap on CORP  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | TW        |   -6488194 | OU      | $981280.09     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Canon Inc                                                         | Counterparty-issue swap on CORP  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | JP        |  -88869047 | OU      | $-7405756.84   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Sharp Corporation                                                 | Counterparty-issue swap on CORP  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | JP        |  -34392870 | OU      | $17773280.57   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Commonwealth Bank of Austarlia                                    | Counterparty-issue swap on CORP  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | AU        |  -49974440 | OU      | $-4963921.47   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Lasertec Corp                                                     | Counterparty-issue swap on CORP  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | JP        |  -80852146 | OU      | $-10824856.15  | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Marks & Spencer Group PLC                                         | Counterparty-issue swap on CORP  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | GB        |  -15192763 | OU      | $720358.21     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Nikon Corp                                                        | Counterparty-issue swap on CORP  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | JP        |  -10574330 | OU      | $-1722681.23   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Tokyo Electron Ltd                                                | Counterparty-issue swap on CORP  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | JP        | -198228783 | OU      | $6940047.10    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Unilever PLC                                                      | Counterparty-issue swap on CORP  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | GB        |  -46257026 | OU      | $-3848410.84   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| United Microelectronics Corporation                               | Counterparty-issue swap on CORP  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | TW        |  -52034058 | OU      | $2517173.25    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Vulcan Materials Co                                               | Common Stock                     | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |     704353 | NS      | $216673069.86  | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Yum! Brands, Inc.                                                 | Common Stock                     | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |     227694 | NS      | $34609488.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCENTURE PLC                                                     | Common Stock                     | CUSIP: G1151C101<br>LEI: N/A                  | Short            | EC               | CORP              | IE        |    -321490 | NS      | $-79279434.00  | -0.74%            |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCED MICRO DEVICES, INC.                                      | Common Stock                     | CUSIP: N/A<br>LEI: N/A                        | Short            | EC               | CORP              | US        |    -396300 | NS      | $-64117377.00  | -0.60%            |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                                                         | Common Stock                     | CUSIP: N/A<br>LEI: 62QBXGPJ34PQ72Z12S66       | Short            | EC               | CORP              | US        |    -196830 | NS      | $-55545426.00  | -0.52%            |  |  |  | No            |                  1 | On Loan: No      |
| Realogy Holdings Corp                                             | Common Stock                     | CUSIP: 75605Y106<br>LEI: 5493004HBTOTE9DI9P12 | Short            | EC               | CORP              | US        |    -487282 | NS      | $-5160316.38   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc                                             | Common Stock                     | CUSIP: N/A<br>LEI: 41BNNE1AFPNAZELZ6K07       | Short            | EC               | CORP              | US        |    -755450 | NS      | $-154670833.00 | -1.45%            |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding N.V.                                                 | Common Stock                     | CUSIP: N07059210<br>LEI: 724500Y6DUVHQD6OXN27 | Short            | EC               | CORP              | NL        |    -136466 | NS      | $-132111369.94 | -1.24%            |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc.                                                         | Common Stock                     | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Short            | EC               | CORP              | US        |   -1114595 | NS      | $-31476162.80  | -0.30%            |  |  |  | No            |                  1 | On Loan: No      |
| Bayerische Motoren Werke AG                                       | Common Stock                     | CUSIP: N/A<br>LEI: YEH5ZCD6E441RHVHD759       | Short            | EC               | CORP              | DE        |    -148361 | NS      | $-14894257.50  | -0.14%            |  |  |  | No            |                  1 | On Loan: No      |
| Canopy Growth Corporation                                         | Common Stock                     | CUSIP: 138035704<br>LEI: 529900CSD7NH1UBC9X07 | Short            | EC               | CORP              | CA        |     -15956 | NS      | $-23295.76     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CAPGEMINI                                                         | Common Stock                     | CUSIP: N/A<br>LEI: 96950077L0TN7BAROX36       | Short            | EC               | CORP              | FR        |    -323790 | NS      | $-47004999.02  | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| CELESTICA INC.                                                    | Common Stock                     | CUSIP: 15101Q207<br>LEI: 549300J3CG5T6RZWLN53 | Short            | EC               | CORP              | CA        |    -346762 | NS      | $-85435221.56  | -0.80%            |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications, Inc.                                      | Common Stock                     | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Short            | EC               | CORP              | US        |    -346824 | NS      | $-95413016.57  | -0.90%            |  |  |  | No            |                  1 | On Loan: No      |
| Check Point Software Technologies Ltd.                            | Common Stock                     | CUSIP: M22465104<br>LEI: 2549003ZVBH73EPNS513 | Short            | EC               | CORP              | IL        |    -346176 | NS      | $-71627276.16  | -0.67%            |  |  |  | No            |                  1 | On Loan: No      |
| CHOICE HOTELS INTERNATIONAL, INC.                                 | Common Stock                     | CUSIP: 169905106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -694532 | NS      | $-74252416.12  | -0.70%            |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co                                                      | Common Stock                     | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Short            | EC               | CORP              | US        |    -247688 | NS      | $-16426668.16  | -0.15%            |  |  |  | No            |                  1 | On Loan: No      |
| COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION                        | Common Stock                     | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Short            | EC               | CORP              | US        |    -520199 | NS      | $-34889746.93  | -0.33%            |  |  |  | No            |                  1 | On Loan: No      |
| ConAgra Brands, Inc.                                              | Common Stock                     | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Short            | EC               | CORP              | US        |    -742937 | NS      | $-13603176.47  | -0.13%            |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION BRANDS, INC.                                        | Common Stock                     | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Short            | EC               | CORP              | US        |    -346177 | NS      | $-46619656.59  | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc                                                  | Common Stock                     | CUSIP: 22160N109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -679637 | NS      | $-57340973.69  | -0.54%            |  |  |  | No            |                  1 | On Loan: No      |
| Dropbox, Inc.                                                     | Common Stock                     | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Short            | EC               | CORP              | US        |    -939506 | NS      | $-28382476.26  | -0.27%            |  |  |  | No            |                  1 | On Loan: No      |
| EATON CORPORATION                                                 | Common Stock                     | CUSIP: G29183103<br>LEI: 0NZWDMRCE180888QQE14 | Short            | EC               | CORP              | US        |    -148615 | NS      | $-55619163.75  | -0.52%            |  |  |  | No            |                  1 | On Loan: No      |
| Kohl's Corp                                                       | Common Stock                     | CUSIP: 500255104<br>LEI: 549300JF6LPRTRJ0FH50 | Short            | EC               | CORP              | US        |   -1408686 | NS      | $-21651503.82  | -0.20%            |  |  |  | No            |                  1 | On Loan: No      |
| THE KRAFT HEINZ COMPANY                                           | Common Stock                     | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Short            | EC               | CORP              | US        |   -1970707 | NS      | $-51317210.28  | -0.48%            |  |  |  | No            |                  1 | On Loan: No      |
| Kuaishou Technology                                               | Common Stock                     | CUSIP: N/A<br>LEI: 300300FCDZBE6UP9ED24       | Short            | EC               | CORP              | CN        |   -4465900 | NS      | $-48559860.71  | -0.46%            |  |  |  | No            |                  1 | On Loan: No      |
| L'OREAL                                                           | Common Stock                     | CUSIP: N/A<br>LEI: 529900JI1GG6F7RKVI53       | Short            | EC               | CORP              | FR        |    -123846 | NS      | $-53623769.93  | -0.50%            |  |  |  | No            |                  1 | On Loan: No      |
| Teradata Corp                                                     | Common Stock                     | CUSIP: 88076W103<br>LEI: 549300JU9SOUHV4U4R71 | Short            | EC               | CORP              | US        |    -273220 | NS      | $-5876962.20   | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Tesla, Inc.                                                       | Common Stock                     | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Short            | EC               | CORP              | US        |   -1486129 | NS      | $-660911288.88 | -6.21%            |  |  |  | No            |                  1 | On Loan: No      |
| Campbell Soup Company                                             | Common Stock                     | CUSIP: 134429109<br>LEI: 5493007JDSMX8Z5Z1902 | Short            | EC               | CORP              | US        |   -1340137 | NS      | $-42321526.46  | -0.40%            |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE US, INC                                                  | Common Stock                     | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Short            | EC               | CORP              | US        |    -606238 | NS      | $-145121252.44 | -1.36%            |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc.                                       | Common Stock                     | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Short            | EC               | CORP              | US        |    -585720 | NS      | $-25742394.00  | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Whirlpool Corporation                                             | Common Stock                     | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Short            | EC               | CORP              | US        |    -494536 | NS      | $-38870529.60  | -0.36%            |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Company Limited                | OCC-issued option on CORP Call   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | TW        |      28276 | NC      | $124555780.00  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                                               | Common Stock                     | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     209129 | NS      | $40219689.28   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                                                       | Common Stock                     | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |     115405 | NS      | $90389812.20   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Brandywine Realty Trust                                           | Common Stock                     | CUSIP: 105368203<br>LEI: 5UZ46ZCYUFYYAC0DS831 | Short            | EC               | CORP              | US        |    -413772 | NS      | $-1725429.24   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Emmett Inc                                                | Common Stock                     | CUSIP: 25960P109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -1882663 | NS      | $-29313062.91  | -0.28%            |  |  |  | No            |                  1 | On Loan: No      |
| Hudson Pacific Properties Inc                                     | Common Stock                     | CUSIP: 444097109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -344134 | NS      | $-949809.84    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corporation                                         | Common Stock                     | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Short            | EC               | CORP              | US        |    -845732 | NS      | $-35732177.00  | -0.34%            |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                                                    | Common Stock                     | CUSIP: 74460D109<br>LEI: 549300LMZF40TKJ6DM64 | Short            | EC               | CORP              | US        |    -198364 | NS      | $-57297441.40  | -0.54%            |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Treasury & Agency Cash Management, Institutional          | Short-Term Investment            | CUSIP: 261908107<br>LEI: 549300MKKM9KT7BF6329 | Long             | STIV             |  | US        |     618258 | NS      | $618257.70     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| USD / BRL, 12/19/2025, $6.00                                      | Counterparty-Issued Option on FX | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |  299709997 | NC      | $974809.94     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| USD / CNH, 12/19/2025, $7.55                                      | Counterparty-Issued Option on FX | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |  346723414 | NC      | $12032.59      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cadence Design Systems Inc                                        | Common Stock                     | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |     744002 | NS      | $261338142.52  | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Pacific Kansas City                                      | Common Stock                     | CUSIP: 13646K108<br>LEI: 54930036474DURYNB481 | Long             | EC               | CORP              | CA        |     988460 | NS      | $73630385.40   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlyle Group Inc                                                 | Common Stock                     | CUSIP: 14316J108<br>LEI: 529900NGGVF94UK6PG95 | Long             | EC               | CORP              | US        |     505300 | NS      | $31682310.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc                                        | Common Stock                     | CUSIP: 169656105<br>LEI: 5493007DZOMUBASCBX97 | Long             | EC               | CORP              | US        |     246637 | NS      | $9665704.03    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp                                                       | Common Stock                     | CUSIP: 172908105<br>LEI: 549300QVUQTTKMTE0G41 | Long             | EC               | CORP              | US        |     119380 | NS      | $24503938.80   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corporation                                  | Common Stock                     | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |     514872 | NS      | $169428929.04  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH LTD                                                           | Common Stock                     | CUSIP: G25508105<br>LEI: 984500AF2HE5UCBFB308 | Long             | EC               | CORP              | IE        |     834214 | NS      | $100022258.60  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Dell Technologies Inc.                                            | Common Stock                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     773179 | NS      | $109613586.83  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERGY CORPORATION                                               | Common Stock                     | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |    1483433 | NS      | $138241121.27  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Expedia, Inc.                                                     | Common Stock                     | CUSIP: 30212P303<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | EC               | CORP              | US        |    1176877 | NS      | $251557458.75  | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Galaxy Entertainment Group Limited                                | Common Stock                     | CUSIP: N/A<br>LEI: 549300ZSEBV3HR826S10       | Long             | EC               | CORP              | HK        |    8136000 | NS      | $44839812.89   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Company                                          | Common Stock                     | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |     343820 | NS      | $103427932.40  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Insmed Incorporated                                               | Common Stock                     | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |     247238 | NS      | $35604744.38   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc                                     | Common Stock                     | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |     861654 | NS      | $145171465.92  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON CONTROLS INTERNATIONAL PUBLIC LIMITED COMPANY             | Common Stock                     | CUSIP: G51502105<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | US        |     306614 | NS      | $33712209.30   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Keros Therapeutics Inc                                            | Common Stock                     | CUSIP: 492327101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     419586 | NS      | $6637850.52    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp                                                          | Common Stock                     | CUSIP: 482480100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     325541 | NS      | $351128522.60  | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp                                                 | Common Stock                     | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |    3026028 | NS      | $405185149.20  | 3.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe`s Companies, Inc.                                            | Common Stock                     | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |     319752 | NS      | $80356875.12   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Madrigal Pharmaceuticals, Inc.                                    | Common Stock                     | CUSIP: 558868105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      59446 | NS      | $27265502.36   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc                                     | Common Stock                     | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |     356490 | NS      | $224688517.20  | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                                                    | Common Stock                     | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     372670 | NS      | $211978422.70  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Meituan Dianping                                                  | Common Stock                     | CUSIP: N/A<br>LEI: 21380033K525E5JLIA77       | Long             | EC               | CORP              | HK        |    1083300 | NS      | $14550003.86   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                                                      | Common Stock                     | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |     305348 | NS      | $150655649.72  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradyne Inc                                                      | Common Stock                     | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |    1419617 | NS      | $195396083.88  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| The TJX Ccompanies, Inc.                                          | Common Stock                     | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |    1611317 | NS      | $232899759.18  | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| TOAST, INC.                                                       | Common Stock                     | CUSIP: 888787108<br>LEI: 549300TN1PZNLCD4I551 | Long             | EC               | CORP              | US        |     197636 | NS      | $7215690.36    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Volvo Car AB                                                      | Counterparty-issue swap on CORP  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | SE        |   -7998922 | OU      | $3473013.83    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Advantest Corp                                                    | Counterparty-issue swap on CORP  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | JP        |  -13600027 | OU      | $-23161626.25  | -0.22%            |  |  |  | No            |                  2 | On Loan: No      |
| Ricoh Co Ltd                                                      | Counterparty-issue swap on CORP  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | JP        |  -25389458 | OU      | $722906.59     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BROADCOM INC.                                                     | OCC-issued option on CORP Call   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      11394 | NC      | $34267455.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc.                                             | OCC-issued option on CORP Call   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        642 | NC      | $32799780.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce.com Inc                                                | OCC-issued option on CORP Call   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       6934 | NC      | $4541770.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| WYNN RESORTS, LIMITED                                             | OCC-issued option on CORP Call   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      24728 | NC      | $37895660.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings Inc.                                    | OCC-issued option on CORP Call   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       7401 | NC      | $21647925.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| LAS VEGAS SANDS CORP                                              | OCC-issued option on CORP Call   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      22196 | NC      | $23361290.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International Inc.                                       | OCC-issued option on CORP Call   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       7965 | NC      | $24850800.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco QQQ Trust Series 1                                        | OCC-issued option on CORP Put    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      50004 | NC      | $69430554.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco QQQ Trust Series 1                                        | OCC-issued option on CORP Put    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      56605 | NC      | $89435900.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P 500 ETF Trust                                            | OCC-issued option on CORP Put    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      61211 | NC      | $74401970.50   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P 500 ETF Trust                                            | OCC-issued option on CORP Put    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      51324 | NC      | $66233622.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                                                         | OCC-issued option on CORP Call   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      17835 | NC      | $66123262.50   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                                    | OCC-issued option on CORP Call   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      19556 | NC      | $34565230.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash, Inc.                                                    | OCC-issued option on CORP Call   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      25162 | NC      | $102975485.00  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC.                                                     | OCC-issued option on CORP Call   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       9909 | NC      | $54970177.50   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                                              | OCC-issued option on CORP Call   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       2722 | NC      | $14025105.00   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M COMPANY                                                        | OCC-issued option on CORP Call   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       9728 | NC      | $21498880.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                                    | OCC-issued option on CORP Call   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      14589 | NC      | $62586810.00   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Nvidia Corporation                                                | OCC-issued option on CORP Call   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      24768 | NC      | $40309920.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla, Inc.                                                       | OCC-issued option on CORP Call   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      24770 | NC      | $93940225.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA CORP.                                                      | Common Stock                     | CUSIP: 92840M102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     744036 | NS      | $145771533.12  | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| EMERSON ELECTRIC CO.                                              | Common Stock                     | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Short            | EC               | CORP              | US        |    -296725 | NS      | $-38924385.50  | -0.37%            |  |  |  | No            |                  1 | On Loan: No      |
| ETSY, INC.                                                        | Common Stock                     | CUSIP: 29786A106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -396302 | NS      | $-26310489.78  | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| FAIR ISAAC CORPORATION                                            | Common Stock                     | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Short            | EC               | CORP              | US        |     -85779 | NS      | $-128370846.87 | -1.21%            |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Company                                                | Common Stock                     | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Short            | EC               | CORP              | US        |   -4846748 | NS      | $-57967106.08  | -0.54%            |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet, Inc                                                     | Common Stock                     | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Short            | EC               | CORP              | US        |    -668757 | NS      | $-56229088.56  | -0.53%            |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Resources Inc                                            | Common Stock                     | CUSIP: 354613101<br>LEI: RIFQSET379FOGTEFKS80 | Short            | EC               | CORP              | US        |   -1137440 | NS      | $-26308987.20  | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| Gartner, Inc.                                                     | Common Stock                     | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Short            | EC               | CORP              | US        |    -296541 | NS      | $-77951732.67  | -0.73%            |  |  |  | No            |                  1 | On Loan: No      |
| GE VERNOVA INC.                                                   | Common Stock                     | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Short            | EC               | CORP              | US        |    -173383 | NS      | $-106613206.70 | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| General Mills Inc                                                 | Common Stock                     | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Short            | EC               | CORP              | US        |    -988999 | NS      | $-49865329.58  | -0.47%            |  |  |  | No            |                  1 | On Loan: No      |
| Genpact Limited                                                   | Common Stock                     | CUSIP: G3922B107<br>LEI: 529900OSEC6Q0L4L5B35 | Short            | EC               | CORP              | BM        |    -271994 | NS      | $-11393828.66  | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| GITLAB INC.                                                       | Common Stock                     | CUSIP: 37637K108<br>LEI: 9845004Y40FACG81ED49 | Short            | EC               | CORP              | US        |    -247269 | NS      | $-11146886.52  | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments Inc                                               | Common Stock                     | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Short            | EC               | CORP              | US        |    -653728 | NS      | $-54311722.24  | -0.51%            |  |  |  | No            |                  1 | On Loan: No      |
| GLOBALFOUNDRIES Inc.                                              | Common Stock                     | CUSIP: G39387108<br>LEI: 549300BA76VK784VMX48 | Short            | EC               | CORP              | US        |    -824895 | NS      | $-29564236.80  | -0.28%            |  |  |  | No            |                  1 | On Loan: No      |
| H&R Block Inc                                                     | Common Stock                     | CUSIP: N/A<br>LEI: 549300CE3KUCWLZBG404       | Short            | EC               | CORP              | US        |   -1455877 | NS      | $-73623699.89  | -0.69%            |  |  |  | No            |                  1 | On Loan: No      |
| Hanesbrands Inc                                                   | Common Stock                     | CUSIP: 410345102<br>LEI: GX5LWVWZLL5S4W1L2F20 | Short            | EC               | CORP              | US        |   -1331335 | NS      | $-8773497.65   | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| HUBBELL INCORPORATED                                              | Common Stock                     | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Short            | EC               | CORP              | US        |    -207720 | NS      | $-89383993.20  | -0.84%            |  |  |  | No            |                  1 | On Loan: No      |
| Interpublic Group of Cos Inc                                      | Common Stock                     | CUSIP: 460690100<br>LEI: 5493008IUOJ5VWTRC333 | Short            | EC               | CORP              | US        |   -2029100 | NS      | $-56632181.00  | -0.53%            |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES TRUST - iShares iBoxx $ High Yield Corporate Bond ETF     | Common Stock                     | CUSIP: 464288513<br>LEI: 549300FCCXHK7O37PQ68 | Short            | EC               | CORP              | US        |    -990752 | NS      | $-80439154.88  | -0.76%            |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON & JOHNSON                                                 | Common Stock                     | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Short            | EC               | CORP              | US        |    -350490 | NS      | $-64987855.80  | -0.61%            |  |  |  | No            |                  1 | On Loan: No      |
| Macy's, Inc.                                                      | Common Stock                     | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Short            | EC               | CORP              | US        |   -1430680 | NS      | $-25652092.40  | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc.                                           | Common Stock                     | CUSIP: 573874104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -941214 | NS      | $-79127860.98  | -0.74%            |  |  |  | No            |                  1 | On Loan: No      |
| MOBILEYE VISION TECHNOLOGIES LTD                                  | Common Stock                     | CUSIP: 60741F104<br>LEI: N/A                  | Short            | EC               | CORP              | IL        |    -947032 | NS      | $-13372091.84  | -0.13%            |  |  |  | No            |                  1 | On Loan: No      |
| MOLSON COORS BREWING COMPANY (UK) LIMITED                         | Common Stock                     | CUSIP: 60871R209<br>LEI: 549300FBMHETW6ISPZ21 | Short            | EC               | CORP              | US        |    -396300 | NS      | $-17932575.00  | -0.17%            |  |  |  | No            |                  1 | On Loan: No      |
| monday.com Ltd.                                                   | Common Stock                     | CUSIP: M7S64H106<br>LEI: N/A                  | Short            | EC               | CORP              | IL        |    -161741 | NS      | $-31327614.29  | -0.29%            |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems, Inc.                                    | Common Stock                     | CUSIP: 609839105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -94208 | NS      | $-86731653.12  | -0.81%            |  |  |  | No            |                  1 | On Loan: No      |
| MONSTER BEVERAGE CORPORATION                                      | Common Stock                     | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Short            | EC               | CORP              | US        |    -890632 | NS      | $-59948439.92  | -0.56%            |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors N.V.                                           | Common Stock                     | CUSIP: N6596X109<br>LEI: 724500M9BY5293JDF951 | Short            | EC               | CORP              | NL        |    -197814 | NS      | $-45048182.22  | -0.42%            |  |  |  | No            |                  1 | On Loan: No      |
| Omnicom Group Inc.                                                | Common Stock                     | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Short            | EC               | CORP              | US        |    -989095 | NS      | $-80640915.35  | -0.76%            |  |  |  | No            |                  1 | On Loan: No      |
| Open Text Inc.                                                    | Common Stock                     | CUSIP: 683715106<br>LEI: 391200TOWHX99FWE8G92 | Short            | EC               | CORP              | CA        |    -395386 | NS      | $-14779528.68  | -0.14%            |  |  |  | No            |                  1 | On Loan: No      |
| Paychex, Inc.                                                     | Common Stock                     | CUSIP: 704326107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -148611 | NS      | $-18837930.36  | -0.18%            |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings, Inc.                                             | Common Stock                     | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Short            | EC               | CORP              | US        |    -990752 | NS      | $-66439829.12  | -0.62%            |  |  |  | No            |                  1 | On Loan: No      |
| Ping An Healthcare and Technology Company Limited                 | Common Stock                     | CUSIP: N/A<br>LEI: 2549009NW1LO017CP285       | Short            | EC               | CORP              | CN        |   -2367827 | NS      | $-5572324.36   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Power Assets Holdings Ltd                                         | Common Stock                     | CUSIP: N/A<br>LEI: 254900JOWYUW1ZX4DF47       | Short            | EC               | CORP              | HK        |   -1839300 | NS      | $-11649877.11  | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Qualys, Inc.                                                      | Common Stock                     | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Short            | EC               | CORP              | US        |    -272139 | NS      | $-36012153.87  | -0.34%            |  |  |  | No            |                  1 | On Loan: No      |
| Rapid7 Inc                                                        | Common Stock                     | CUSIP: 753422104<br>LEI: 549300GNVG5D60KEYN14 | Short            | EC               | CORP              | US        |    -300144 | NS      | $-5627700.00   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| REGIONS FINANCIAL CORPORATION                                     | Common Stock                     | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Short            | EC               | CORP              | US        |   -1780341 | NS      | $-46947592.17  | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| salesforce.com Inc                                                | Common Stock                     | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Short            | EC               | CORP              | US        |    -792601 | NS      | $-187846437.00 | -1.76%            |  |  |  | No            |                  1 | On Loan: No      |
| Sally Beauty Holdings Inc                                         | Common Stock                     | CUSIP: N/A<br>LEI: 549300XN447ZTLOFR213       | Short            | EC               | CORP              | US        |    -800932 | NS      | $-13039172.96  | -0.12%            |  |  |  | No            |                  1 | On Loan: No      |
| SL Green Realty Corp.                                             | Common Stock                     | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Short            | EC               | CORP              | US        |    -247267 | NS      | $-14789039.27  | -0.14%            |  |  |  | No            |                  1 | On Loan: No      |
| T Rowe Price Group Inc                                            | Common Stock                     | CUSIP: 74144T108<br>LEI: 549300SIV6FPS9Y7IH33 | Short            | EC               | CORP              | US        |    -681598 | NS      | $-69959218.72  | -0.66%            |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector SPDR Trust - The Technology Select Sector SPDR Fund | Common Stock                     | CUSIP: 81369Y803<br>LEI: 549300BR5T0JNM2MW070 | Short            | EC               | CORP              | US        |    -445800 | NS      | $-125653188.00 | -1.18%            |  |  |  | No            |                  1 | On Loan: No      |
| Tenable Holdings Inc                                              | Common Stock                     | CUSIP: 88025T102<br>LEI: 5493004S5OMPESF0EF83 | Short            | EC               | CORP              | US        |    -498309 | NS      | $-14530690.44  | -0.14%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-25

**Name of Applicant:** ACAP Strategic Fund

**Signature:** Jennifer Shufro

**Name of Signer:** Jennifer Shufro

**Title:** Chief Compliance Officer