# EDGAR Filing Document

**Accession Number:** 0000864230
**File Stem:** 0001752724-23-075932
**Filing Date:** 2023-3
**Character Count:** 40094
**Document Hash:** c5a2a7fa6b08194beac71531ac94279e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-075932.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0001752724-23-075932

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**PERIOD START**: 20230430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CALDWELL & ORKIN FUNDS INC
- **CENTRAL INDEX KEY:** 0000864230
- **IRS NUMBER:** 581895283
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06113
- **FILM NUMBER:** 23786251

**BUSINESS ADDRESS:**
- **STREET 1:** 100 S. ASHLEY DRIVE
- **STREET 2:** SUITE 895
- **CITY:** TAMPA
- **STATE:** FL
- **ZIP:** 33602
- **BUSINESS PHONE:** 813-282-7870

**MAIL ADDRESS:**
- **STREET 1:** 100 S. ASHLEY DRIVE
- **STREET 2:** SUITE 895
- **CITY:** TAMPA
- **STATE:** FL
- **ZIP:** 33602

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OTC SELECT 100 FUND INC
- **DATE OF NAME CHANGE:** 19920629

## Series and Classes Contracts Data

### Caldwell & Orkin - Gator Capital Long/Short Fund (Series ID: S000011446)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000031655 | Caldwell & Orkin - Gator Capital Long/Short Fund | COAGX           |

## Nport-Ex

Gator

Capital

Long/Short

Fund

Schedule

of

Investments

January

31,

2023

-

(Unaudited)

COMMON

STOCKS

—

LONG

—

92.98%

Shares

Fair

Value

Banks

—

31.39%

Axos

Financial,

Inc.

(a) 10,000

$

481,200

Bridgewater

Bancshares,

Inc.

(a) 24,000

373,440

Citizens

Financial

Group,

Inc.

10,000

433,200

ConnectOne

Bancorp,

Inc.

9,400

223,438

Dime

Community

Bancshares,

Inc.

7,063

210,619

Financial

Institutions,

Inc.

4,520

111,689

First

BanCorp.

62,800

844,660

First

Business

Financial

Services,

Inc.

7,500

268,500

First

Citizens

BancShares,

Inc.,

Class

A

366,287

First

Internet

Bancorp

10,000

262,900

Meridian

Bancorp,

Inc.

6,344

202,056

OFG

Bancorp

24,700

699,257

Popular,

Inc.

7,000

480,480

Republic

First

Bancorp,

Inc.

(a) 52,716

115,975

Webster

Financial

Corp.

11,000

579,150

Western

Alliance

Bancorp

9,900

746,163

6,399,014

Casinos

&

Gaming

—

2.55%

Las

Vegas

Sands

Corp.

(a) 6,000

354,000

Melco

Resorts

&

Entertainment

Ltd.

-

ADR

(a) 12,000

163,920

517,920

Coal

Mining

—

1.43%

SunCoke

Energy,

Inc.

32,000

291,520

Communications

Equipment

—

0.46%

Juniper

Networks,

Inc.

2,900

93,670

Computer

Hardware

&

Storage

—

1.27%

Dell

Technologies,

Inc.,

Class

C

4,000

162,480

Hewlett

Packard

Enterprise

Co.

6,000

96,780

259,260

Consumer

Finance

—

8.85%

Navient

Corp.

20,000

379,400

OneMain

Holdings,

Inc.

12,500

539,250

SLM

Corp.

24,000

421,680

Synchrony

Financial

12,600

462,798

1,803,128

Data

&

Transaction

Processors

—

2.14%

Visa,

Inc.,

Class

A

1,900

437,399

Diversified

Banks

—

3.30%

Barclays

PLC,

Sponsored

-

ADR

72,500

672,800

Film

&

T

V

—

1.92%

Warner

Bros.

Discovery,

Inc.

(a) 26,500

392,730

Health

Care

Supplies

—

0.07%

Neogen

Corp.

(a) 670

14,345

Gator

Capital

Long/Short

Fund

Schedule

of

Investments

(continued)

January

31,

2023

-

(Unaudited)

COMMON

STOCKS

—

LONG

—

92.98%

-

continued

Shares

Fair

Value

Hotel

REITs

—

1.52%

Park

Hotels

&

Resorts,

Inc.

21,000

$

308,910

Infrastructure

Software

—

1.06%

VMware,

Inc.,

Class

A

(a) 1,762

215,792

Insurance

Brokers

&

Services

—

0.19%

Kingstone

Cos.,

Inc.

22,629

38,017

Internet

Media

&

Services

—

1.47%

Meta

Platforms,

Inc.,

Class

A

(a) 2,000

297,940

Investment

Companies

—

1.49%

BBX

Capital,

Inc.

(a) 32,801

303,409

Life

Insurance

—

10.20%

Genworth

Financial,

Inc.,

Class

A

(a) 184,500

1,018,440

Jackson

Financial,

Inc.,

Class

A

24,100

1,061,363

2,079,803

Local

TV

&

Radio

Broadcast

—

0.11%

Audacy,

Inc.

(a) 68,000

21,842

Mortgage

Finance

—

2.97%

PennyMac

Financial

Services,

Inc.

9,000

606,780

P&C

Insurance

—

3.31%

NMI

Holdings,

Inc.,

Class

A

(a) 29,000

673,670

Private

Equity

—

6.80%

The

Carlyle

Group,

Inc.

20,000

719,400

Victory

Capital

Holdings,

Inc.,

Class

A

22,500

666,900

1,386,300

Real

Estate

Services

—

2.50%

Anywhere

Real

Estate,

Inc.

(a) 60,000

508,800

Steel

Producers

—

1.99%

United

States

Steel

Corp.

14,250

405,983

Wealth

Management

—

5.99%

Ameriprise

Financial,

Inc.

2,500

875,300

Virtus

Investment

Partners,

Inc.

1,600

343,808

1,219,108

Total

Common

Stocks

—

Long—

(Cost $14,994,827)

18,948,140

PREFERRED

STOCKS

—

LONG

—

0.34%

Specialty

Finance

—

0.34%

Federal

National

Mortgage

Association

(a) 9,625

34,169

Federal

National

Mortgage

Association,

Series

R,

7.63%

(a) 20,250

35,640

Total

Preferred

Stocks

—

Long—

(Cost $176,270)

69,809

WARRANTS

—

LONG

—

0.13%

Ampco-Pittsburgh

Corp.,

Expires

08/01/25,

Strike

Price

$6

91,000

27,209

Total

Warrants

—

Long—

(Cost $27,297)

27,209

Gator

Capital

Long/Short

Fund

Schedule

of

Investments

(continued)

January

31,

2023

-

(Unaudited)

MONEY

MARKET

FUNDS

-

7.32%

Shares

Fair

Value

First

American

Treasury

Obligations

Fund

-

Class

X,

4.24%

(b) 1,491,518

$

1,491,518

Total

Money

Market

Funds

(Cost

$1,491,518)

1,491,518

Total

Investments

—

138.92%

(Cost

$24,465,282)

28,312,046

Liabilities

in

Excess

of

Other

Assets — (38.92)%

(7,931,636)

NET

ASSETS

—

100.00%

$

20,380,410

(a) Non-income

producing

security.

(b) Rate

disclosed

is

the

seven

day

effective

yield

as

of

January

31,

2023. ADR

-

American

Depositary

Receipt.

Gator

Capital

Long/Short

Fund

Schedule

of

Securities

Sold

Short

January

31,

2023

-

(Unaudited)

COMMON

STOCKS

—

SHORT

—

(37.76)%

Shares

Fair

Value

Application

Software

—

(0.03)%

Root,

Inc.

(a) (1,055)

$

(6,203)

Automobiles

—

(0.51)%

Tesla,

Inc.

(a) (600) (103,932)

Banks

—

(19.24)%

Bank

of

Hawaii

Corp.

(3,600)

(275,364)

Capitol

Federal

Financial,

Inc.

(27,000)

(225,990)

City

Holding

Co.

(883) (83,700)

Commerce

Bancshares,

Inc.

(4,520)

(300,851)

Community

Bank

System,

Inc.

(2,700)

(155,817)

First

Financial

Bankshares,

Inc.

(6,250)

(222,625)

First

Republic

Bank

(3,100)

(436,728)

Flushing

Financial

Corp.

(20,300)

(389,557)

Northwest

Bancshares,

Inc.

(9,142)

(129,268)

Park

National

Corp.

(1,700)

(212,925)

Renasant

Corp.

(11,800)

(419,844)

Seacoast

Banking

Corp.

of

Florida

(8,500)

(272,935)

Stock

Yards

Bancorp,

Inc.

(3,200)

(191,872)

United

Bankshares,

Inc.

(15,100)

(607,020)

(3,924,496)

Catalog

&

TV

Based

Retailers

—

(0.40)%

Warby

Parker,

Inc.,

Class

A

(a) (5,000)

(80,750)

Commercial

Vehicles

—

(0.13)%

Nikola

Corp.

(a) (10,000)

(27,100)

Industrial

Wholesale

&

Rental

—

(2.60)%

SiteOne

Landscape

Supply,

Inc.

(a) (3,500)

(530,285)

Infrastructure

Software

—

(0.07)%

Upstart

Holdings,

Inc.

(a) (800) (14,944)

Internet

Media

&

Services

—

(0.55)%

Opendoor

Technologies,

Inc.

(a) (50,800)

(111,252)

Multi

Asset

Class

REITs

—

(2.40)%

Vornado

Realty

Trust

(20,000)

(487,801)

Non-Alcoholic

Beverages

—

(0.19)%

Oatly

Group

AB

-

ADR

(a) (15,651)

(38,188)

Office

REITs

—

(10.46)%

Boston

Properties,

Inc.

(5,200)

(387,608)

Corporate

Office

Properties

Trust

(15,000)

(421,050)

Cousins

Properties,

Inc.

(16,000)

(438,720)

Empire

State

Realty

Trust,

Inc.,

Class

A

(56,000)

(467,040)

JBG

SMITH

Properties

(20,700)

(416,898)

(2,131,316)

P&C

Insurance

—

(0.12)%

Lemonade,

Inc.

(a) (1,442)

(23,476)

Gator

Capital

Long/Short

Fund

Schedule

of

Securities

Sold

Short

(continued)

January

31,

2023

-

(Unaudited)

COMMON

STOCKS

—

SHORT

—

(37.76)%

-

continued

Shares

Fair

Value

Packaged

Food

—

(0.13)%

Beyond

Meat,

Inc.

(a) (1,600)

$

(26,288)

Real

Estate

Services

—

(0.93)%

Compass,

Inc.,

Class

A

(a) (47,400)

(190,547)

Total

Common

Stocks

-

Short

(Proceeds

Received $8,730,807)

(7,696,578)

EXCHANGE-TRADED

FUNDS

—

SHORT

—

(0.91)%

Exchange-Traded

Funds

—

(0.91)%

Direxion

Daily

Financial

Bear

3X

Shares

(a) (11,700)

(184,860)

Total

Exchange-Traded

Funds

(Proceeds

Received

$(499,663))

(184,860)

TOTAL

SECURITIES

SOLD

SHORT

-

(38.67)%

(Proceeds

Received

$9,230,470)

(7,881,438)

(a) Non-income

producing

security.

ADR

-

American

Depositary

Receipt.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Caldwell & Orkin Funds, Inc.

- **b. Investment Company Act file number:** 811-06113

- **c. CIK number of Registrant:** 0000864230

- **d. LEI of Registrant:** 5493008S0906HH519X80

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

  - **Street Address 1:** 100 S. Ashley Drive

  - **City:** Tampa

  - **State:** FL

  - **Foreign country:** US

  - **Zip / Postal Code:** 33602

  - **Telephone number:** 813-282-7870

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

- **a. Name of Series:** CALDWELL & ORKIN - GATOR CAPITAL LONG/SHORT FUND

- **b. EDGAR series identifier (if any):** S000011446

- **c. LEI of Series:** 5493008S0906HH519X80

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

- **a. Date of fiscal year-end:** 2023-04-30

- **b. Date as of which information is reported:** 2023-01-31

**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:** $28345145.15

**Total Liabilities:** $7943342.19

**Net Assets:** $20401802.96

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000031655 | 4.40%                | -2.85%               | 9.14%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-65414.12               | $881044.02                                 |
| Month 2  | $219644.02               | $-777176.65                                |
| Month 3  | $259580.69               | $1476325.95                                |

**Designated Index Information**

- **Index Name:** CALDWELL & ORKIN DRP

- **Index Identifier:** CALDWELL & ORKIN DRP

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Synchrony Financial                            | Synchrony Financial                                     | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |     12600 | NS      | $462798.00    | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                           | Vornado Realty Trust                                    | CUSIP: 929042109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -20000 | NS      | $-487800.00   | -2.39%            |  |  |  | No            |                  1 | On Loan: No      |
| Northwest Bancshares Inc                       | Northwest Bancshares, Inc.                              | CUSIP: 667340103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -9142 | NS      | $-129267.88   | -0.63%            |  |  |  | No            |                  1 | On Loan: No      |
| Commerce Bancshares Inc                        | Commerce Bancshares, Inc.                               | CUSIP: 200525103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -4520 | NS      | $-300851.20   | -1.47%            |  |  |  | No            |                  1 | On Loan: No      |
| Capitol Fed Fin In                             | Capitol Federal Financial, Inc.                         | CUSIP: 14057J101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -27000 | NS      | $-225990.00   | -1.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Ameriprise Financial, Inc.                     | Ameriprise Financial, Inc.                              | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |      2500 | NS      | $875300.00    | 4.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                             | Meta Platforms, Inc.                                    | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      2000 | NS      | $297940.00    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| First Bancorp Puerto Rico                      | First BanCorp. (Puerto Rico)                            | CUSIP: 318672706<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |     62800 | NS      | $844660.00    | 4.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtus Investment Partners Inc                 | Virtus Investment Partners, Inc.                        | CUSIP: 92828Q109<br>LEI: 549300HWF93HB8BDM648 | Long             | EC               | CORP              | US        |      1600 | NS      | $343808.00    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Neogen Corp                                    | Neogen Corp.                                            | CUSIP: 640491106<br>LEI: 549300HJT9FC36N4UW43 | Long             | EC               | CORP              | US        |       670 | NS      | $14344.70     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Anywhere Real Estate Inc.                      | Anywhere Real Estate, Inc.                              | CUSIP: 75605Y106<br>LEI: 5493004HBTOTE9DI9P12 | Long             | EC               | CORP              | US        |     60000 | NS      | $508800.00    | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc                   | Citizens Financial Group, Inc.                          | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     10000 | NS      | $433200.00    | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Root Inc                                       | Root, Inc./OH                                           | CUSIP: 77664L207<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -1055 | NS      | $-6203.40     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Las Vegas Sands Corp                           | Las Vegas Sands Corp.                                   | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |      6000 | NS      | $354000.00    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Financial Institutions Inc.                    | Financial Institutions, Inc.                            | CUSIP: 317585404<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4520 | NS      | $111689.20    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Inc.                                   | Compass, Inc.                                           | CUSIP: 20464U100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -47400 | NS      | $-190548.00   | -0.93%            |  |  |  | No            |                  1 | On Loan: No      |
| Flushing Financial Corp.                       | Flushing Financial Corp.                                | CUSIP: 343873105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -20300 | NS      | $-389557.00   | -1.91%            |  |  |  | No            |                  1 | On Loan: No      |
| Axos Financial Inc                             | Axos Financial, Inc.                                    | CUSIP: 05465C100<br>LEI: 529900D8M56422GK9O25 | Long             | EC               | CORP              | US        |     10000 | NS      | $481200.00    | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Properties, Inc.                        | Boston Properties, Inc.                                 | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Short            | EC               | CORP              | US        |     -5200 | NS      | $-387608.00   | -1.90%            |  |  |  | No            |                  1 | On Loan: No      |
| Corporate Office Properties Trust              | Corporate Office Properties Trust                       | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Short            | EC               | CORP              | US        |    -15000 | NS      | $-421050.00   | -2.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                                      | Tesla, Inc.                                             | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Short            | EC               | CORP              | US        |      -600 | NS      | $-103932.00   | -0.51%            |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association          | Federal National Mortgage Association, Series R, 7.625% | CUSIP: 313586760<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | EP               | USGSE             | US        |     20250 | NS      | $35640.00     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| OneMain Holdings Incorporation                 | OneMain Holdings, Inc.                                  | CUSIP: 68268W103<br>LEI: 549300E3VEW8SMS5XW09 | Long             | EC               | CORP              | US        |     12500 | NS      | $539250.00    | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| VMware Inc                                     | VMware, Inc.                                            | CUSIP: 928563402<br>LEI: 549300BUDHS3LRWBE814 | Long             | EC               | CORP              | US        |      1762 | NS      | $215792.14    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Navient Corporation                            | Navient Corp.                                           | CUSIP: 63938C108<br>LEI: 54930067J0ZNOEBRW338 | Long             | EC               | CORP              | US        |     20000 | NS      | $379400.00    | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Popular, Inc.                                  | Popular, Inc.                                           | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |      7000 | NS      | $480480.00    | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Oatly Group AB                                 | Oatly Group AB                                          | CUSIP: 67421J108<br>LEI: 894500CEIOQNBAH10Z10 | Short            | EC               | CORP              | SE        |    -15651 | NS      | $-38188.44    | -0.19%            |  |  |  | No            |                  1 | On Loan: No      |
| Seacoast Banking Corporation Of Florida        | Seacoast Banking Corp. of Florida                       | CUSIP: 811707801<br>LEI: 549300V6IC06XYQYPG88 | Short            | EC               | CORP              | US        |     -8500 | NS      | $-272935.00   | -1.34%            |  |  |  | No            |                  1 | On Loan: No      |
| Nikola Corp.                                   | Nikola Corp.                                            | CUSIP: 654110105<br>LEI: 6354007SKFUCHYZAKQ61 | Short            | EC               | CORP              | US        |    -10000 | NS      | $-27100.00    | -0.13%            |  |  |  | No            |                  1 | On Loan: No      |
| Empire State Realty Trust Inc                  | Empire State Realty Trust, Inc.                         | CUSIP: 292104106<br>LEI: 549300VOKY1DUEQSB456 | Short            | EC               | CORP              | US        |    -56000 | NS      | $-467040.00   | -2.29%            |  |  |  | No            |                  1 | On Loan: No      |
| First Internet Bancorp.                        | First Internet Bancorp                                  | CUSIP: 320557101<br>LEI: 549300T25MP2M92XU194 | Long             | EC               | CORP              | US        |     10000 | NS      | $262900.00    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Alliance Bancorporation                | Western Alliance Bancorp                                | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |      9900 | NS      | $746163.00    | 3.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Bbx Capital Inc                                | BBX Capital, Inc.                                       | CUSIP: 073319105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32801 | NS      | $303409.25    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Pennymac Financial Services Inc                | PennyMac Financial Services, Inc.                       | CUSIP: 70932M107<br>LEI: 549300W1D516HBDEU871 | Long             | EC               | CORP              | US        |      9000 | NS      | $606780.00    | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Siteone Landscape Supply Inc                   | SiteOne Landscape Supply, Inc.                          | CUSIP: 82982L103<br>LEI: 5299008LX7SBD4HIAU03 | Short            | EC               | CORP              | US        |     -3500 | NS      | $-530285.00   | -2.60%            |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                       | Visa, Inc.                                              | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      1900 | NS      | $437399.00    | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bankshares Inc                 | First Financial Bankshares, Inc.                        | CUSIP: 32020R109<br>LEI: 549300XN3GTGOENGNV49 | Short            | EC               | CORP              | US        |     -6250 | NS      | $-222625.00   | -1.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association          | Federal National Mortgage Association                   | CUSIP: 313586794<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | EP               | USGSE             | US        |      9625 | NS      | $34168.75     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Genworth Financial Inc.                        | Genworth Financial, Inc.                                | CUSIP: 37247D106<br>LEI: 549300EMCG286BDNKJ33 | Long             | EC               | CORP              | US        |    184500 | NS      | $1018440.00   | 4.99%             |  |  |  | No            |                  1 | On Loan: No      |
| United Bankshares Inc                          | United Bankshares, Inc./WV                              | CUSIP: 909907107<br>LEI: 5299005O3BAMJ9Z92V62 | Short            | EC               | CORP              | US        |    -15100 | NS      | $-607020.00   | -2.98%            |  |  |  | No            |                  1 | On Loan: No      |
| Stock Yards Bancorp Inc.                       | Stock Yards Bancorp, Inc.                               | CUSIP: 861025104<br>LEI: 549300YERP9H5TDIQW16 | Short            | EC               | CORP              | US        |     -3200 | NS      | $-191872.00   | -0.94%            |  |  |  | No            |                  1 | On Loan: No      |
| SLM Corporation                                | SLM Corp.                                               | CUSIP: 78442P106<br>LEI: 4K8SLPBF5DXXGPW03H93 | Long             | EC               | CORP              | US        |     24000 | NS      | $421680.00    | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic First Bancorp Inc.                    | Republic First Bancorp, Inc.                            | CUSIP: 760416107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     52716 | NS      | $115975.20    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Dell Technologies Inc                          | Dell Technolodies, Inc.                                 | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |      4000 | NS      | $162480.00    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Audacy Inc                                     | Audacy, Inc.                                            | CUSIP: 05070N103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     68000 | NS      | $21841.60     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Victory Capital Holdings, Inc.                 | Victory Capital Holdings, Inc.                          | CUSIP: 92645B103<br>LEI: 549300BN5LH2CIPPHS71 | Long             | EC               | CORP              | US        |     22500 | NS      | $666900.00    | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Beyond Meat Inc                                | Beyond Meat, Inc.                                       | CUSIP: 08862E109<br>LEI: 549300XQ946NCE51DR09 | Short            | EC               | CORP              | US        |     -1600 | NS      | $-26288.00    | -0.13%            |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Hawaii Corp.                           | Bank of Hawaii Corp.                                    | CUSIP: 062540109<br>LEI: 5493006Q8BQ8AD8M2U33 | Short            | EC               | CORP              | US        |     -3600 | NS      | $-275364.00   | -1.35%            |  |  |  | No            |                  1 | On Loan: No      |
| Juniper Networks, Inc.                         | Juniper Networks, Inc.                                  | CUSIP: 48203R104<br>LEI: AUHIXNGG7U2U7JEHM527 | Long             | EC               | CORP              | US        |      2900 | NS      | $93670.00     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgewater Bancshares Inc.                    | Bridgewater Bancshares, Inc.                            | CUSIP: 108621103<br>LEI: 5493001FLSBTVILKXZ71 | Long             | EC               | CORP              | US        |     24000 | NS      | $373440.00    | 1.83%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Park Hotels & Resorts Inc.                     | Park Hotels & Resorts, Inc.                             | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               | CORP              | US        |     21000 | NS      | $308910.00    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Renasant Corporation                           | Renasant Corp.                                          | CUSIP: 75970E107<br>LEI: 549300OVE6OZHW2UUH81 | Short            | EC               | CORP              | US        |    -11800 | NS      | $-419844.00   | -2.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Community Bank System Inc                      | Community Bank System, Inc.                             | CUSIP: 203607106<br>LEI: 5299008N6YHE6GCP1E80 | Short            | EC               | CORP              | US        |     -2700 | NS      | $-155817.00   | -0.76%            |  |  |  | No            |                  1 | On Loan: No      |
| Jackson Financial Inc                          | Jackson Financial Corp.                                 | CUSIP: 46817M107<br>LEI: 213800WXW2KG1N4CO374 | Long             | EC               | CORP              | US        |     24100 | NS      | $1061364.00   | 5.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Dime Community Bancshares Inc.                 | Dime Community Bancshares, Inc.                         | CUSIP: 25432X102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7063 | NS      | $210618.66    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| JBG SMITH Properties                           | JBG SMITH Properties                                    | CUSIP: 46590V100<br>LEI: 549300HHIW6GDQCPEC54 | Short            | EC               | CORP              | US        |    -20700 | NS      | $-416898.00   | -2.04%            |  |  |  | No            |                  1 | On Loan: No      |
| FIRST AMERN FDS INC                            | First American Treasury Obligations Fund                | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   1491518 | PA      | $1491517.68   | 7.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp.                        | Webster Financial Corp.                                 | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |     11000 | NS      | $579150.00    | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Warby Parker Inc                               | Warby Parker, Inc.                                      | CUSIP: 93403J106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -5000 | NS      | $-80750.00    | -0.40%            |  |  |  | No            |                  1 | On Loan: No      |
| Hewlett Packard Enterprise Company             | Hewlett Packard Enterprise Co.                          | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |      6000 | NS      | $96780.00     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| First Business Financial Services Inc.         | First Business Financial Services, Inc.                 | CUSIP: 319390100<br>LEI: 549300BXKLW2T50TKU95 | Long             | EC               | CORP              | US        |      7500 | NS      | $268500.00    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Steel Corporation                | United States Steel Corp.                               | CUSIP: 912909108<br>LEI: JNLUVFYJT1OZSIQ24U47 | Long             | EC               | CORP              | US        |     14250 | NS      | $405982.50    | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Melco Resorts & Entertainment Ltd.             | Melco Resorts & Entertainment Ltd.                      | CUSIP: 585464100<br>LEI: 529900NRV6LBR3T6B421 | Long             | EC               | CORP              | KY        |     12000 | NS      | $163920.00    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros. Discovery Inc.                    | Warner Bros Discovery, Inc.                             | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |     26500 | NS      | $392730.00    | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Connectone Bancorp Inc.                        | ConnectOne Bancorp, Inc.                                | CUSIP: 20786W107<br>LEI: 549300E2M5ZYAZKUK134 | Long             | EC               | CORP              | US        |      9400 | NS      | $223438.00    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Lemonade Inc                                   | Lemonade, Inc.                                          | CUSIP: 52567D107<br>LEI: 5493009BKR06OXXU6853 | Short            | EC               | CORP              | US        |     -1442 | NS      | $-23475.76    | -0.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Direxion Shares ETF Trust                      | Direxion Daily Financial Bear 3X Shares                 | CUSIP: 25460E240<br>LEI: 549300M501IVJM50FG12 | Short            | EC               | RF                | US        |    -11700 | NS      | $-184860.00   | -0.91%            |  |  |  | No            |                  1 | On Loan: No      |
| First Republic Bank San Francisco              | First Republic Bank/CA                                  | CUSIP: 33616C100<br>LEI: YWC0TIKBQM2JV8L4IV08 | Short            | EC               | CORP              | US        |     -3100 | NS      | $-436728.00   | -2.14%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                            | Ampco-Pittsburgh Corp.                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |     91000 | NS      | $27209.00     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Park National Corp                             | Park National Corp.                                     | CUSIP: 700658107<br>LEI: 5493001T01TDELV5OO63 | Short            | EC               | CORP              | US        |     -1700 | NS      | $-212925.00   | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Barclays PLC                                   | Barclays PLC                                            | CUSIP: 06738E204<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EC               | CORP              | GB        |     72500 | NS      | $672800.00    | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| City Holding Co                                | City Holding Co.                                        | CUSIP: 177835105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -883 | NS      | $-83699.57    | -0.41%            |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Incorporated                | Cousins Properties, Inc.                                | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Short            | EC               | CORP              | US        |    -16000 | NS      | $-438720.00   | -2.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Carlyle Group Inc                              | The Carlyle Group, Inc.                                 | CUSIP: 14316J108<br>LEI: 529900NGGVF94UK6PG95 | Long             | EC               | CORP              | US        |     20000 | NS      | $719400.00    | 3.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Kingstone Companies Inc                        | Kingstone Companies, Inc.                               | CUSIP: 496719105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22629 | NS      | $38016.72     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Upstart Holdings Inc                           | Upstart Holdings, Inc.                                  | CUSIP: 91680M107<br>LEI: 549300WNB47JRNENIC75 | Short            | EC               | CORP              | US        |      -800 | NS      | $-14944.00    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| OFG Bancorp                                    | OFG Bancorp                                             | CUSIP: 67103X102<br>LEI: 549300Q4QEXJ37LEXQ06 | Long             | EC               | CORP              | PR        |     24700 | NS      | $699257.00    | 3.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Opendoor Technologies Inc.                     | Opendoor Technologies, Inc.                             | CUSIP: 683712103<br>LEI: 254900KX11YZ4HV5BQ47 | Short            | EC               | CORP              | US        |    -50800 | NS      | $-111252.00   | -0.55%            |  |  |  | No            |                  1 | On Loan: No      |
| SunCoke Energy, Inc.                           | SunCoke Energy, Inc.                                    | CUSIP: 86722A103<br>LEI: 1KF1J2NXQE2PI0QOB943 | Long             | EC               | CORP              | US        |     32000 | NS      | $291520.00    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| First Citizens Bancshares Inc (North Carolina) | First Citizens BancShares, Inc.                         | CUSIP: 31946M103<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EC               | CORP              | US        |       471 | NS      | $366287.28    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| NMI Holdings Inc                               | NMI Holdings, Inc.                                      | CUSIP: 629209305<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | EC               | CORP              | US        |     29000 | NS      | $673670.00    | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Meridian Corporation                           | Meridian Bank of Malvern, PA                            | CUSIP: 58958P104<br>LEI: 635400IW1QMK3FNFF894 | Long             | EC               | CORP              | US        |      6344 | NS      | $202056.40    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-31

**Name of Applicant:** Caldwell & Orking Funds, Inc.

**Signature:** Gregory Knoth

**Name of Signer:** Gregory Knoth

**Title:** SVP, Mutual Fund Controller