# EDGAR Filing Document

**Accession Number:** 0001227523
**File Stem:** 0001752724-25-207537
**Filing Date:** 2025-8
**Character Count:** 121504
**Document Hash:** e13c8cd3744d9b6dc103e7f7f8057ef0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-207537.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-207537

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OPTIMUM FUND TRUST
- **CENTRAL INDEX KEY:** 0001227523

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21335
- **FILM NUMBER:** 251261588

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354
- **BUSINESS PHONE:** 800.914.0278

**MAIL ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BOB TRUST
- **DATE OF NAME CHANGE:** 20030415

## Series and Classes Contracts Data

### OPTIMUM SMALL-MID CAP VALUE FUND (Series ID: S000002425)

| Class ID   | Class Name                                           | Ticker Symbol   |
|:---|:---|:---|
| C000006463 | OPTIMUM SMALL-MID CAP VALUE FUND CLASS A             | OASVX           |
| C000006465 | OPTIMUM SMALL-MID CAP VALUE FUND CLASS C             | OCSVX           |
| C000006466 | OPTIMUM SMALL-MID CAP VALUE FUND INSTITUTIONAL CLASS | OISVX           |

## Nport-Ex

## Schedule of investments
Optimum Small-Mid Cap Value Fund

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks — 98.73%♣** | &nbsp;&nbsp;**Common Stocks — 98.73%♣** | &nbsp;&nbsp;**Common Stocks — 98.73%♣** |
| &nbsp;&nbsp;Communication Services — 2.64% | &nbsp;&nbsp;Communication Services — 2.64% | &nbsp;&nbsp;Communication Services — 2.64% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cargurus † | &nbsp;&nbsp;&nbsp;&nbsp;141105 | $4722784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fox Class A | &nbsp;&nbsp;&nbsp;&nbsp;55500 | &nbsp;&nbsp; 3110220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Match Group | &nbsp;&nbsp;&nbsp;&nbsp;55900 | &nbsp;&nbsp; 1726751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nexstar Media Group | &nbsp;&nbsp;&nbsp;&nbsp;18100 | &nbsp;&nbsp; 3130395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Playtika Holding | &nbsp;&nbsp;&nbsp;&nbsp;189100 | &nbsp;&nbsp; 894443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shutterstock | &nbsp;&nbsp;&nbsp;&nbsp;32900 | &nbsp;&nbsp; 623784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TEGNA | &nbsp;&nbsp;&nbsp;&nbsp;69900 | &nbsp;&nbsp; 1171524 |
|  |  | &nbsp;&nbsp; 15379901 |
| &nbsp;&nbsp;Consumer Discretionary — 13.40% | &nbsp;&nbsp;Consumer Discretionary — 13.40% | &nbsp;&nbsp;Consumer Discretionary — 13.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Academy Sports & Outdoors | &nbsp;&nbsp;&nbsp;&nbsp;32965 | &nbsp;&nbsp; 1477162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ADT | &nbsp;&nbsp;&nbsp;&nbsp;145700 | &nbsp;&nbsp; 1234079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Axle & Manufacturing Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;93200 | &nbsp;&nbsp; 380256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Autoliv | &nbsp;&nbsp;&nbsp;&nbsp;19600 | &nbsp;&nbsp; 2193240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AutoNation † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp; 456895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bloomin' Brands | &nbsp;&nbsp;&nbsp;&nbsp;74100 | &nbsp;&nbsp; 638001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BorgWarner | &nbsp;&nbsp;&nbsp;&nbsp;41200 | &nbsp;&nbsp; 1379376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brunswick | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8900 | &nbsp;&nbsp; 491636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crocs † | &nbsp;&nbsp;&nbsp;&nbsp;12400 | &nbsp;&nbsp; 1255872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dick's Sporting Goods | &nbsp;&nbsp;&nbsp;&nbsp;51141 | &nbsp;&nbsp; 10116201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;El Pollo Loco Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;91000 | &nbsp;&nbsp; 1001910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expedia Group | &nbsp;&nbsp;&nbsp;&nbsp;17400 | &nbsp;&nbsp; 2935032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gap | &nbsp;&nbsp;&nbsp;&nbsp;42200 | &nbsp;&nbsp; 920382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodyear Tire & Rubber † | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp; 725900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guess? | &nbsp;&nbsp;&nbsp;&nbsp;47500 | &nbsp;&nbsp; 574275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H&R Block | &nbsp;&nbsp;&nbsp;&nbsp;19900 | &nbsp;&nbsp; 1092311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Harley-Davidson | &nbsp;&nbsp;&nbsp;&nbsp;59700 | &nbsp;&nbsp; 1408920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Haverty Furniture | &nbsp;&nbsp;&nbsp;&nbsp;28300 | &nbsp;&nbsp; 575905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lear | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8300 | &nbsp;&nbsp; 788334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Macy's | &nbsp;&nbsp;&nbsp;&nbsp;51200 | &nbsp;&nbsp; 596992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mattel † | &nbsp;&nbsp;&nbsp;&nbsp;103800 | &nbsp;&nbsp; 2046936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MGM Resorts International † | &nbsp;&nbsp;&nbsp;&nbsp;32900 | &nbsp;&nbsp; 1131431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mohawk Industries † | &nbsp;&nbsp;&nbsp;&nbsp;13600 | &nbsp;&nbsp; 1425824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ODP † | &nbsp;&nbsp;&nbsp;&nbsp;29100 | &nbsp;&nbsp; 527583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Penske Automotive Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7600 | &nbsp;&nbsp; 1305756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Perdoceo Education | &nbsp;&nbsp;&nbsp;&nbsp;31500 | &nbsp;&nbsp; 1029735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phinia | &nbsp;&nbsp;&nbsp;&nbsp;12800 | &nbsp;&nbsp; 569472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PulteGroup | &nbsp;&nbsp;&nbsp;&nbsp;27300 | &nbsp;&nbsp; 2879058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PVH | &nbsp;&nbsp;&nbsp;&nbsp;23100 | &nbsp;&nbsp; 1584660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sally Beauty Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp; 601900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Somnigroup International | &nbsp;&nbsp;&nbsp;&nbsp;85993 | &nbsp;&nbsp; 5851824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Steven Madden | &nbsp;&nbsp;&nbsp;&nbsp;182602 | &nbsp;&nbsp; 4378796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tapestry | &nbsp;&nbsp;&nbsp;&nbsp;37600 | &nbsp;&nbsp; 3301656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Toll Brothers | &nbsp;&nbsp;&nbsp;&nbsp;33300 | &nbsp;&nbsp; 3800529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Travel + Leisure | &nbsp;&nbsp;&nbsp;&nbsp;12500 | &nbsp;&nbsp; 645125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Valvoline † | &nbsp;&nbsp;&nbsp;&nbsp;180504 | &nbsp;&nbsp; 6835686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Whirlpool | &nbsp;&nbsp;&nbsp;&nbsp;14500 | &nbsp;&nbsp; 1470590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Winnebago Industries | &nbsp;&nbsp;&nbsp;&nbsp;28300 | &nbsp;&nbsp; 820700 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** |
| &nbsp;&nbsp;Consumer Discretionary (continued) | &nbsp;&nbsp;Consumer Discretionary (continued) | &nbsp;&nbsp;Consumer Discretionary (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wyndham Hotels & Resorts | &nbsp;&nbsp;&nbsp;&nbsp;93874 | $7623508 |
|  |  | &nbsp;&nbsp; 78073448 |
| &nbsp;&nbsp;Consumer Staples — 4.54% | &nbsp;&nbsp;Consumer Staples — 4.54% | &nbsp;&nbsp;Consumer Staples — 4.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Albertsons Class A | &nbsp;&nbsp;&nbsp;&nbsp;103000 | &nbsp;&nbsp; 2215530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bunge Global | &nbsp;&nbsp;&nbsp;&nbsp;20700 | &nbsp;&nbsp; 1661796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Conagra Brands | &nbsp;&nbsp;&nbsp;&nbsp;17400 | &nbsp;&nbsp; 356178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fresh Del Monte Produce | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp; 307990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Herbalife † | &nbsp;&nbsp;&nbsp;&nbsp;112000 | &nbsp;&nbsp; 965440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ingredion | &nbsp;&nbsp;&nbsp;&nbsp;23800 | &nbsp;&nbsp; 3227756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Molson Coors Beverage Class B | &nbsp;&nbsp;&nbsp;&nbsp;67600 | &nbsp;&nbsp; 3250884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Simply Good Foods † | &nbsp;&nbsp;&nbsp;&nbsp;172684 | &nbsp;&nbsp; 5455087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Foods Holding † | &nbsp;&nbsp;&nbsp;&nbsp;116576 | &nbsp;&nbsp; 8977518 |
|  |  | &nbsp;&nbsp; 26418179 |
| &nbsp;&nbsp;Energy — 4.38% | &nbsp;&nbsp;Energy — 4.38% | &nbsp;&nbsp;Energy — 4.38% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Antero Resources † | &nbsp;&nbsp;&nbsp;&nbsp;142436 | &nbsp;&nbsp; 5737322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;APA | &nbsp;&nbsp;&nbsp;&nbsp;67600 | &nbsp;&nbsp; 1236404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNX Resources † | &nbsp;&nbsp;&nbsp;&nbsp;17500 | &nbsp;&nbsp; 589400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core Natural Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8884 | &nbsp;&nbsp; 619570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EQT | &nbsp;&nbsp;&nbsp;&nbsp;26769 | &nbsp;&nbsp; 1561168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Helmerich & Payne | &nbsp;&nbsp;&nbsp;&nbsp;60200 | &nbsp;&nbsp; 912632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HF Sinclair | &nbsp;&nbsp;&nbsp;&nbsp;48700 | &nbsp;&nbsp; 2000596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Matador Resources | &nbsp;&nbsp;&nbsp;&nbsp;64800 | &nbsp;&nbsp; 3092256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Murphy Oil | &nbsp;&nbsp;&nbsp;&nbsp;61600 | &nbsp;&nbsp; 1386000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Scorpio Tankers | &nbsp;&nbsp;&nbsp;&nbsp;21100 | &nbsp;&nbsp; 825643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SM Energy | &nbsp;&nbsp;&nbsp;&nbsp;26300 | &nbsp;&nbsp; 649873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Viper Energy | &nbsp;&nbsp;&nbsp;&nbsp;151261 | &nbsp;&nbsp; 5767582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;World Kinect | &nbsp;&nbsp;&nbsp;&nbsp;39900 | &nbsp;&nbsp; 1131165 |
|  |  | &nbsp;&nbsp; 25509611 |
| &nbsp;&nbsp;Financials — 24.12% | &nbsp;&nbsp;Financials — 24.12% | &nbsp;&nbsp;Financials — 24.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Managers Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp; 1869315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ally Financial | &nbsp;&nbsp;&nbsp;&nbsp;70700 | &nbsp;&nbsp; 2753765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Annaly Capital Management | &nbsp;&nbsp;&nbsp;&nbsp;52450 | &nbsp;&nbsp; 987109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ares Capital | &nbsp;&nbsp;&nbsp;&nbsp;85300 | &nbsp;&nbsp; 1873188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Associated Banc-Corp | &nbsp;&nbsp;&nbsp;&nbsp;56100 | &nbsp;&nbsp; 1368279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banco Latinoamericano de Comercio Exterior Class E | &nbsp;&nbsp;&nbsp;&nbsp;67900 | &nbsp;&nbsp; 2736370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hills Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;54900 | &nbsp;&nbsp; 1374696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blue Owl Capital | &nbsp;&nbsp;&nbsp;&nbsp;77200 | &nbsp;&nbsp; 1107048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cadence Bank | &nbsp;&nbsp;&nbsp;&nbsp;268436 | &nbsp;&nbsp; 8584583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carlyle Secured Lending | &nbsp;&nbsp;&nbsp;&nbsp;12900 | &nbsp;&nbsp; 176472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cathay General Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;16300 | &nbsp;&nbsp; 742139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citizens Financial Group | &nbsp;&nbsp;&nbsp;&nbsp;37300 | &nbsp;&nbsp; 1669175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNA Financial | &nbsp;&nbsp;&nbsp;&nbsp;19900 | &nbsp;&nbsp; 925947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNO Financial Group | &nbsp;&nbsp;&nbsp;&nbsp;79400 | &nbsp;&nbsp; 3063252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comerica | &nbsp;&nbsp;&nbsp;&nbsp;27900 | &nbsp;&nbsp; 1664235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corebridge Financial | &nbsp;&nbsp;&nbsp;&nbsp;26700 | &nbsp;&nbsp; 947850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Customers Bancorp † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp; 475794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employers Holdings | &nbsp;&nbsp;&nbsp;&nbsp;28300 | &nbsp;&nbsp; 1335194 |

---

NQ- OPTSV [0625] 0825 (4730784) 1

------

Optimum Small-Mid Cap Value Fund

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** |
| &nbsp;&nbsp;Financials (continued) | &nbsp;&nbsp;Financials (continued) | &nbsp;&nbsp;Financials (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equitable Holdings | &nbsp;&nbsp;&nbsp;&nbsp;16400 | $920040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Essent Group | &nbsp;&nbsp;&nbsp;&nbsp;26800 | &nbsp;&nbsp; 1627564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Everest Group | &nbsp;&nbsp;&nbsp;&nbsp;15818 | &nbsp;&nbsp; 5375747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity National Financial | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp; 840900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;11100 | &nbsp;&nbsp; 456543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First BanCorp | &nbsp;&nbsp;&nbsp;&nbsp;23200 | &nbsp;&nbsp; 483256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Busey | &nbsp;&nbsp;&nbsp;&nbsp;74400 | &nbsp;&nbsp; 1702644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Horizon | &nbsp;&nbsp;&nbsp;&nbsp;135800 | &nbsp;&nbsp; 2878960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FS KKR Capital | &nbsp;&nbsp;&nbsp;&nbsp;57750 | &nbsp;&nbsp; 1198313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hancock Whitney | &nbsp;&nbsp;&nbsp;&nbsp;17900 | &nbsp;&nbsp; 1027460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hanmi Financial | &nbsp;&nbsp;&nbsp;&nbsp;73400 | &nbsp;&nbsp; 1811512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hope Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;40600 | &nbsp;&nbsp; 435638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kemper | &nbsp;&nbsp;&nbsp;&nbsp;157445 | &nbsp;&nbsp; 10161500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lincoln National | &nbsp;&nbsp;&nbsp;&nbsp;27700 | &nbsp;&nbsp; 958420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;M&T Bank | &nbsp;&nbsp;&nbsp;&nbsp;32651 | &nbsp;&nbsp; 6333968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MGIC Investment | &nbsp;&nbsp;&nbsp;&nbsp;107200 | &nbsp;&nbsp; 2984448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Mountain Finance | &nbsp;&nbsp;&nbsp;&nbsp;95300 | &nbsp;&nbsp; 1005415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OFG Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;50300 | &nbsp;&nbsp; 2152840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Old Republic International | &nbsp;&nbsp;&nbsp;&nbsp;48310 | &nbsp;&nbsp; 1857036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OneMain Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp; 478800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Popular | &nbsp;&nbsp;&nbsp;&nbsp;18700 | &nbsp;&nbsp; 2060927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp; 406762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PROG Holdings | &nbsp;&nbsp;&nbsp;&nbsp;39600 | &nbsp;&nbsp; 1162260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Radian Group | &nbsp;&nbsp;&nbsp;&nbsp;69500 | &nbsp;&nbsp; 2503390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regional Management | &nbsp;&nbsp;&nbsp;&nbsp;26100 | &nbsp;&nbsp; 762381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regions Financial | &nbsp;&nbsp;&nbsp;&nbsp;72400 | &nbsp;&nbsp; 1702848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinsurance Group of America | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6900 | &nbsp;&nbsp; 1368684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rithm Capital | &nbsp;&nbsp;&nbsp;&nbsp;131300 | &nbsp;&nbsp; 1482377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SLM | &nbsp;&nbsp;&nbsp;&nbsp;22800 | &nbsp;&nbsp; 747612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SouthState | &nbsp;&nbsp;&nbsp;&nbsp;95010 | &nbsp;&nbsp; 8743770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stifel Financial | &nbsp;&nbsp;&nbsp;&nbsp;103183 | &nbsp;&nbsp; 10708332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;46300 | &nbsp;&nbsp; 3090062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Synovus Financial | &nbsp;&nbsp;&nbsp;&nbsp;189285 | &nbsp;&nbsp; 9795499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Universal Insurance Holdings | &nbsp;&nbsp;&nbsp;&nbsp;11600 | &nbsp;&nbsp; 321668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unum Group | &nbsp;&nbsp;&nbsp;&nbsp;37500 | &nbsp;&nbsp; 3028500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Victory Capital Holdings Class A | &nbsp;&nbsp;&nbsp;&nbsp;39300 | &nbsp;&nbsp; 2502231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya Financial | &nbsp;&nbsp;&nbsp;&nbsp;113238 | &nbsp;&nbsp; 8039898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Union | &nbsp;&nbsp;&nbsp;&nbsp;66100 | &nbsp;&nbsp; 556562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zions Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;60500 | &nbsp;&nbsp; 3142370 |
|  |  | &nbsp;&nbsp;140471548 |
| &nbsp;&nbsp;Healthcare — 6.57% | &nbsp;&nbsp;Healthcare — 6.57% | &nbsp;&nbsp;Healthcare — 6.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Baxter International | &nbsp;&nbsp;&nbsp;&nbsp;32100 | &nbsp;&nbsp; 971988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BioMarin Pharmaceutical † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp; 318826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DaVita † | &nbsp;&nbsp;&nbsp;&nbsp;16400 | &nbsp;&nbsp; 2336180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exelixis † | &nbsp;&nbsp;&nbsp;&nbsp;89500 | &nbsp;&nbsp; 3944712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ICON † | &nbsp;&nbsp;&nbsp;&nbsp;39579 | &nbsp;&nbsp; 5756766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incyte † | &nbsp;&nbsp;&nbsp;&nbsp;46300 | &nbsp;&nbsp; 3153030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ironwood Pharmaceuticals † | &nbsp;&nbsp;&nbsp;&nbsp;136200 | &nbsp;&nbsp; 97683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jazz Pharmaceuticals † | &nbsp;&nbsp;&nbsp;&nbsp;41800 | &nbsp;&nbsp; 4435816 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** |
| &nbsp;&nbsp;Healthcare (continued) | &nbsp;&nbsp;Healthcare (continued) | &nbsp;&nbsp;Healthcare (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Molina Healthcare † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9267 | $2760639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Organon & Co. | &nbsp;&nbsp;&nbsp;&nbsp;107300 | &nbsp;&nbsp; 1038664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Perrigo | &nbsp;&nbsp;&nbsp;&nbsp;217118 | &nbsp;&nbsp; 5801393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenet Healthcare † | &nbsp;&nbsp;&nbsp;&nbsp;10300 | &nbsp;&nbsp; 1812800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Therapeutics † | &nbsp;&nbsp;&nbsp;&nbsp;10700 | &nbsp;&nbsp; 3074645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Universal Health Services Class B | &nbsp;&nbsp;&nbsp;&nbsp;12900 | &nbsp;&nbsp; 2336835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Viatris | &nbsp;&nbsp;&nbsp;&nbsp;47900 | &nbsp;&nbsp; 427747 |
|  |  | &nbsp;&nbsp; 38267724 |
| &nbsp;&nbsp;Industrials — 17.72% | &nbsp;&nbsp;Industrials — 17.72% | &nbsp;&nbsp;Industrials — 17.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ABM Industries | &nbsp;&nbsp;&nbsp;&nbsp;33200 | &nbsp;&nbsp; 1567372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACCO Brands | &nbsp;&nbsp;&nbsp;&nbsp;146000 | &nbsp;&nbsp; 522680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AGCO | &nbsp;&nbsp;&nbsp;&nbsp;21800 | &nbsp;&nbsp; 2248888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allison Transmission Holdings | &nbsp;&nbsp;&nbsp;&nbsp;29700 | &nbsp;&nbsp; 2821203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apogee Enterprises | &nbsp;&nbsp;&nbsp;&nbsp;36200 | &nbsp;&nbsp; 1469720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ArcBest | &nbsp;&nbsp;&nbsp;&nbsp;20700 | &nbsp;&nbsp; 1594107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atkore | &nbsp;&nbsp;&nbsp;&nbsp;30700 | &nbsp;&nbsp; 2165885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boise Cascade | &nbsp;&nbsp;&nbsp;&nbsp;68805 | &nbsp;&nbsp; 5973650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brink's | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp; 187509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Builders FirstSource † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp; 1050210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CACI International Class A † | &nbsp;&nbsp;&nbsp;&nbsp;12016 | &nbsp;&nbsp; 5728027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNH Industrial | &nbsp;&nbsp;&nbsp;&nbsp;133100 | &nbsp;&nbsp; 1724976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Covenant Logistics Group | &nbsp;&nbsp;&nbsp;&nbsp;19800 | &nbsp;&nbsp; 477378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CSG Systems International | &nbsp;&nbsp;&nbsp;&nbsp;39000 | &nbsp;&nbsp; 2547090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deluxe | &nbsp;&nbsp;&nbsp;&nbsp;29800 | &nbsp;&nbsp; 474118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ennis | &nbsp;&nbsp;&nbsp;&nbsp;23300 | &nbsp;&nbsp; 422662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gates Industrial † | &nbsp;&nbsp;&nbsp;&nbsp;103800 | &nbsp;&nbsp; 2390514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genpact | &nbsp;&nbsp;&nbsp;&nbsp;30900 | &nbsp;&nbsp; 1359909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greenbrier | &nbsp;&nbsp;&nbsp;&nbsp;18700 | &nbsp;&nbsp; 861135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Griffon | &nbsp;&nbsp;&nbsp;&nbsp;17900 | &nbsp;&nbsp; 1295423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Heidrick & Struggles International | &nbsp;&nbsp;&nbsp;&nbsp;26200 | &nbsp;&nbsp; 1198912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Huntington Ingalls Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp; 1134862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IDEX | &nbsp;&nbsp;&nbsp;&nbsp;37225 | &nbsp;&nbsp; 6535593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ingersoll Rand | &nbsp;&nbsp;&nbsp;&nbsp;91703 | &nbsp;&nbsp; 7627856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JBT Marel | &nbsp;&nbsp;&nbsp;&nbsp;62017 | &nbsp;&nbsp; 7458164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ManpowerGroup | &nbsp;&nbsp;&nbsp;&nbsp;18900 | &nbsp;&nbsp; 763560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Matson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8800 | &nbsp;&nbsp; 979880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Middleby † | &nbsp;&nbsp;&nbsp;&nbsp;39981 | &nbsp;&nbsp; 5757264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MillerKnoll | &nbsp;&nbsp;&nbsp;&nbsp;86600 | &nbsp;&nbsp; 1681772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mueller Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp; 754965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oshkosh | &nbsp;&nbsp;&nbsp;&nbsp;24100 | &nbsp;&nbsp; 2736314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Owens Corning | &nbsp;&nbsp;&nbsp;&nbsp;19700 | &nbsp;&nbsp; 2709144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Primoris Services | &nbsp;&nbsp;&nbsp;&nbsp;12500 | &nbsp;&nbsp; 974250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ryder System | &nbsp;&nbsp;&nbsp;&nbsp;23200 | &nbsp;&nbsp; 3688800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Snap-on | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp; 964658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Textron | &nbsp;&nbsp;&nbsp;&nbsp;60230 | &nbsp;&nbsp; 4835867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TransUnion | &nbsp;&nbsp;&nbsp;&nbsp;77985 | &nbsp;&nbsp; 6862680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Airlines Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;31900 | &nbsp;&nbsp; 2540197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wabash National | &nbsp;&nbsp;&nbsp;&nbsp;38600 | &nbsp;&nbsp; 410318 |

---

2 NQ- OPTSV [0625] 0825 (4730784)

------

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** |
| &nbsp;&nbsp;Industrials (continued) | &nbsp;&nbsp;Industrials (continued) | &nbsp;&nbsp;Industrials (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WESCO International | &nbsp;&nbsp;&nbsp;&nbsp;36325 | $6727390 |
|  |  | &nbsp;&nbsp;103224902 |
| &nbsp;&nbsp;Information Technology — 12.17% | &nbsp;&nbsp;Information Technology — 12.17% | &nbsp;&nbsp;Information Technology — 12.17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adeia | &nbsp;&nbsp;&nbsp;&nbsp;157800 | &nbsp;&nbsp; 2231292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allegro MicroSystems † | &nbsp;&nbsp;&nbsp;&nbsp;148749 | &nbsp;&nbsp; 5085728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amdocs | &nbsp;&nbsp;&nbsp;&nbsp;96721 | &nbsp;&nbsp; 8824824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amkor Technology | &nbsp;&nbsp;&nbsp;&nbsp;84600 | &nbsp;&nbsp; 1775754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arrow Electronics † | &nbsp;&nbsp;&nbsp;&nbsp;24580 | &nbsp;&nbsp; 3132229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Belden | &nbsp;&nbsp;&nbsp;&nbsp;74803 | &nbsp;&nbsp; 8662188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cirrus Logic † | &nbsp;&nbsp;&nbsp;&nbsp;15100 | &nbsp;&nbsp; 1574251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dropbox Class A † | &nbsp;&nbsp;&nbsp;&nbsp;95400 | &nbsp;&nbsp; 2728440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Flex † | &nbsp;&nbsp;&nbsp;&nbsp;156520 | &nbsp;&nbsp; 7813478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gen Digital | &nbsp;&nbsp;&nbsp;&nbsp;85600 | &nbsp;&nbsp; 2516640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jabil | &nbsp;&nbsp;&nbsp;&nbsp;13600 | &nbsp;&nbsp; 2966160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kimball Electronics † | &nbsp;&nbsp;&nbsp;&nbsp;33000 | &nbsp;&nbsp; 634590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MKS | &nbsp;&nbsp;&nbsp;&nbsp;46987 | &nbsp;&nbsp; 4668628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NCR Atleos † | &nbsp;&nbsp;&nbsp;&nbsp;18600 | &nbsp;&nbsp; 530658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NetApp | &nbsp;&nbsp;&nbsp;&nbsp;28800 | &nbsp;&nbsp; 3068640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Photronics † | &nbsp;&nbsp;&nbsp;&nbsp;82767 | &nbsp;&nbsp; 1558503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PTC † | &nbsp;&nbsp;&nbsp;&nbsp;44930 | &nbsp;&nbsp; 7743236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sanmina † | &nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp; 1350054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Skyworks Solutions | &nbsp;&nbsp;&nbsp;&nbsp;14400 | &nbsp;&nbsp; 1073088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TD SYNNEX | &nbsp;&nbsp;&nbsp;&nbsp;19200 | &nbsp;&nbsp; 2605440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Xerox Holdings | &nbsp;&nbsp;&nbsp;&nbsp;61300 | &nbsp;&nbsp; 323051 |
|  |  | &nbsp;&nbsp; 70866872 |
| &nbsp;&nbsp;Materials — 4.67% | &nbsp;&nbsp;Materials — 4.67% | &nbsp;&nbsp;Materials — 4.67% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CF Industries Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8300 | &nbsp;&nbsp; 763600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crown Holdings | &nbsp;&nbsp;&nbsp;&nbsp;14100 | &nbsp;&nbsp; 1452018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Graphic Packaging Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8800 | &nbsp;&nbsp; 185416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ingevity † | &nbsp;&nbsp;&nbsp;&nbsp;151502 | &nbsp;&nbsp; 6528221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;James Hardie Industries † | &nbsp;&nbsp;&nbsp;&nbsp;166569 | &nbsp;&nbsp; 4479040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Koppers Holdings | &nbsp;&nbsp;&nbsp;&nbsp;37700 | &nbsp;&nbsp; 1212055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mosaic | &nbsp;&nbsp;&nbsp;&nbsp;37000 | &nbsp;&nbsp; 1349760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;O-I Glass † | &nbsp;&nbsp;&nbsp;&nbsp;30900 | &nbsp;&nbsp; 455466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reliance | &nbsp;&nbsp;&nbsp;&nbsp;26061 | &nbsp;&nbsp; 8180548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Silgan Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7500 | &nbsp;&nbsp; 406350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Steel Dynamics | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp; 1536120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SunCoke Energy | &nbsp;&nbsp;&nbsp;&nbsp;76500 | &nbsp;&nbsp; 657135 |
|  |  | &nbsp;&nbsp; 27205729 |
| &nbsp;&nbsp;Real Estate — 6.35% | &nbsp;&nbsp;Real Estate — 6.35% | &nbsp;&nbsp;Real Estate — 6.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Assets Trust | &nbsp;&nbsp;&nbsp;&nbsp;55500 | &nbsp;&nbsp; 1096125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Healthcare REIT | &nbsp;&nbsp;&nbsp;&nbsp;107613 | &nbsp;&nbsp; 3953701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple Hospitality REIT | &nbsp;&nbsp;&nbsp;&nbsp;103500 | &nbsp;&nbsp; 1207845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Armada Hoffler Properties | &nbsp;&nbsp;&nbsp;&nbsp;100700 | &nbsp;&nbsp; 691809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brixmor Property Group | &nbsp;&nbsp;&nbsp;&nbsp;375068 | &nbsp;&nbsp; 9766771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Camden Property Trust | &nbsp;&nbsp;&nbsp;&nbsp;65043 | &nbsp;&nbsp; 7329696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City Office REIT | &nbsp;&nbsp;&nbsp;&nbsp;137000 | &nbsp;&nbsp; 731580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CTO Realty Growth | &nbsp;&nbsp;&nbsp;&nbsp;22700 | &nbsp;&nbsp; 391802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EPR Properties | &nbsp;&nbsp;&nbsp;&nbsp;45900 | &nbsp;&nbsp; 2674134 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** |
| &nbsp;&nbsp;Real Estate (continued) | &nbsp;&nbsp;Real Estate (continued) | &nbsp;&nbsp;Real Estate (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Highwoods Properties | &nbsp;&nbsp;&nbsp;&nbsp;43800 | $1361742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Host Hotels & Resorts | &nbsp;&nbsp;&nbsp;&nbsp;130700 | &nbsp;&nbsp; 2007552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrial Logistics Properties Trust | &nbsp;&nbsp;&nbsp;&nbsp;63789 | &nbsp;&nbsp; 290240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kite Realty Group Trust | &nbsp;&nbsp;&nbsp;&nbsp;43400 | &nbsp;&nbsp; 983010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Omega Healthcare Investors | &nbsp;&nbsp;&nbsp;&nbsp;19100 | &nbsp;&nbsp; 700015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Outfront Media | &nbsp;&nbsp;&nbsp;&nbsp;93299 | &nbsp;&nbsp; 1522640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Piedmont Realty Trust Class A | &nbsp;&nbsp;&nbsp;&nbsp;78300 | &nbsp;&nbsp; 570807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sabra Health Care REIT | &nbsp;&nbsp;&nbsp;&nbsp;53800 | &nbsp;&nbsp; 992072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service Properties Trust | &nbsp;&nbsp;&nbsp;&nbsp;104300 | &nbsp;&nbsp; 249277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Uniti Group † | &nbsp;&nbsp;&nbsp;&nbsp;107160 | &nbsp;&nbsp; 462931 |
|  |  | &nbsp;&nbsp; 36983749 |
| &nbsp;&nbsp;Utilities — 2.17% | &nbsp;&nbsp;Utilities — 2.17% | &nbsp;&nbsp;Utilities — 2.17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chesapeake Utilities | &nbsp;&nbsp;&nbsp;&nbsp;36116 | &nbsp;&nbsp; 4341866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Fuel Gas | &nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp; 2727662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NRG Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp; 1525510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ONE Gas | &nbsp;&nbsp;&nbsp;&nbsp;26699 | &nbsp;&nbsp; 1918590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UGI | &nbsp;&nbsp;&nbsp;&nbsp;59200 | &nbsp;&nbsp; 2156064 |
|  |  | &nbsp;&nbsp; 12669692 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $527,407,469)** | &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $527,407,469)** | &nbsp;&nbsp;**575071355** |
| &nbsp;&nbsp;**Exchange-Traded Fund — 0.17%** | &nbsp;&nbsp;**Exchange-Traded Fund — 0.17%** | &nbsp;&nbsp;**Exchange-Traded Fund — 0.17%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares Russell 2000 Value ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6400 | &nbsp;&nbsp; 1009664 |
| &nbsp;&nbsp;&nbsp;**Total Exchange-Traded Fund<br> (cost $1,010,476)** | &nbsp;&nbsp;&nbsp;**Total Exchange-Traded Fund<br> (cost $1,010,476)** | &nbsp;&nbsp; **1009664** |
| &nbsp;&nbsp;**Short-Term Investments — 1.39%** | &nbsp;&nbsp;**Short-Term Investments — 1.39%** | &nbsp;&nbsp;**Short-Term Investments — 1.39%** |
| &nbsp;&nbsp;Money Market Mutual Funds — 1.39% | &nbsp;&nbsp;Money Market Mutual Funds — 1.39% | &nbsp;&nbsp;Money Market Mutual Funds — 1.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.22%) | 2027070 | &nbsp;&nbsp; 2027070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.23%) | 2027069 | &nbsp;&nbsp; 2027069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.30%) | 2027069 | &nbsp;&nbsp; 2027069 |

---

NQ- OPTSV [0625] 0825 (4730784) 3

------

Optimum Small-Mid Cap Value Fund

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Short-Term Investments (continued)** | &nbsp;&nbsp;**Short-Term Investments (continued)** | &nbsp;&nbsp;**Short-Term Investments (continued)** |
| &nbsp;&nbsp;Money Market Mutual Funds (continued) | &nbsp;&nbsp;Money Market Mutual Funds (continued) | &nbsp;&nbsp;Money Market Mutual Funds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 4.23%) | 2027069 | $2027069 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $8,108,277)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $8,108,277)** | &nbsp;&nbsp; **8108277** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—100.29%<br> (cost $536,526,222)** |  | &nbsp;&nbsp;**584189296** |
| &nbsp;&nbsp;&nbsp;**Liabilities Net of Receivables and Other Assets—(0.29%)** |  | &nbsp;&nbsp;&nbsp; **(1709871)** |
| &nbsp;&nbsp;&nbsp;**Net Assets Applicable to 42,052,914 Shares Outstanding—100.00%** |  | **$582479425** |

---

♣ Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes. <br> † Non-income producing security.

---

| |
|:---|
| **Summary of abbreviations:** |
| ETF – Exchange-Traded Fund |
| REIT – Real Estate Investment Trust |

---

4 NQ- OPTSV [0625] 0825 (4730784)

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Optimum Fund Trust

- **b. Investment Company Act file number:** 811-21335

- **c. CIK number of Registrant:** 0001227523

- **d. LEI of Registrant:** 54930035OPW530FG2N40

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

  - **Street Address 1:** 100 Independence

  - **City:** Philadelphia

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19106

  - **Telephone number:** 215-255-1200

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

- **a. Name of Series:** Optimum Small-Mid Cap Value Fund

- **b. EDGAR series identifier (if any):** S000002425

- **c. LEI of Series:** N97178UEWMBUQDBS0G90

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

- **a. Date of fiscal year-end:** 2026-03-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $583752223.63

**Total Liabilities:** $1024218.55

**Net Assets:** $582728005.08

**Cash Not Reported:** $237894.73

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000006463 | -5.68%               | 4.91%                | 4.10%                |
| Class ID C000006465 | -5.80%               | 4.80%                | 4.08%                |
| Class ID C000006466 | -5.65%               | 4.89%                | 4.13%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-12046894.27            | $-23587446.21                              |
| Month 2  | $5680010.34              | $22061874.04                               |
| Month 3  | $4557354.93              | $17902298.41                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Western Union Co/The                           | Western Union Co/The                           | CUSIP: 959802109<br>LEI: 28ID94QU1140NC23S047 | Long             | EC               | CORP              | US        |     66100 | NS      | $556562.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc                 | Omega Healthcare Investors Inc                 | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |     19100 | NS      | $700015.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Matson Inc                                     | Matson Inc                                     | CUSIP: 57686G105<br>LEI: 549300OI5H3Y0I9I4I12 | Long             | EC               | CORP              | US        |      8800 | NS      | $979880.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Heidrick & Struggles Internati                 | Heidrick & Struggles International Inc         | CUSIP: 422819102<br>LEI: 5493006284N2J367VB57 | Long             | EC               | CORP              | US        |     26200 | NS      | $1198912.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Government Portfolio                  | Fidelity Government Portfolio                  | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        |   2027069 | NS      | $2027069.27   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International Inc                       | Baxter International Inc                       | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | EC               | CORP              | US        |     32100 | NS      | $971988.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity FedFund                    | BlackRock Liquidity FedFund                    | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |   2027069 | NS      | $2027069.31   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingredion Inc                                  | Ingredion Inc                                  | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |     23800 | NS      | $3227756.00   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Whirlpool Corp                                 | Whirlpool Corp                                 | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               | CORP              | US        |     14500 | NS      | $1470590.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Essent Group Ltd                               | Essent Group Ltd                               | CUSIP: 000000000<br>LEI: 254900QUO860OUT6ZF83 | Long             | EC               | CORP              | US        |     26800 | NS      | $1627564.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings Inc                     | CF Industries Holdings Inc                     | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |      7000 | NS      | $644000.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Comerica Inc                                   | Comerica Inc                                   | CUSIP: 200340107<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | EC               | CORP              | US        |     27900 | NS      | $1664235.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Simply Good Foods Co/The                       | Simply Good Foods Co/The                       | CUSIP: 82900L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    172684 | NS      | $5455087.56   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| CNA Financial Corp                             | CNA Financial Corp                             | CUSIP: 126117100<br>LEI: 549300YX2GSZD7YG1R84 | Long             | EC               | CORP              | US        |     19900 | NS      | $925947.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Rithm Capital Corp                             | Rithm Capital Corp                             | CUSIP: 64828T201<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EC               | CORP              | US        |    131300 | NS      | $1482377.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Covenant Logistics Group Inc                   | Covenant Logistics Group Inc                   | CUSIP: 22284P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19800 | NS      | $477378.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                            | Fifth Third Bancorp                            | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |     11100 | NS      | $456543.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT Inc                     | Sabra Health Care REIT Inc                     | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |     53800 | NS      | $992072.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Synovus Financial Corp                         | Synovus Financial Corp                         | CUSIP: 87161C501<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EC               | CORP              | US        |    189285 | NS      | $9795498.75   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Gen Digital Inc                                | Gen Digital Inc                                | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               | CORP              | US        |     85600 | NS      | $2516640.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp/DE                              | Brunswick Corp/DE                              | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |      8900 | NS      | $491636.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers Inc                              | Toll Brothers Inc                              | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |     33300 | NS      | $3800529.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Travel + Leisure Co                            | Travel + Leisure Co                            | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | EC               | CORP              | US        |     12500 | NS      | $645125.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ICON PLC                                       | ICON PLC                                       | CUSIP: 000000000<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |     39579 | NS      | $5756765.55   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Genpact Ltd                                    | Genpact Ltd                                    | CUSIP: 000000000<br>LEI: 529900OSEC6Q0L4L5B35 | Long             | EC               | CORP              | US        |     30900 | NS      | $1359909.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Mohawk Industries Inc                          | Mohawk Industries Inc                          | CUSIP: 608190104<br>LEI: 549300JI1115MG3Q6322 | Long             | EC               | CORP              | US        |     13600 | NS      | $1425824.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| SM Energy Co                                   | SM Energy Co                                   | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |     26300 | NS      | $649873.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingersoll Rand Inc                             | Ingersoll Rand Inc                             | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |     91703 | NS      | $7627855.54   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Helmerich & Payne Inc                          | Helmerich & Payne Inc                          | CUSIP: 423452101<br>LEI: 254900NAOGHJ88RZ4C73 | Long             | EC               | CORP              | US        |     60200 | NS      | $912632.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| American Assets Trust Inc                      | American Assets Trust Inc                      | CUSIP: 024013104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55500 | NS      | $1096125.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Chesapeake Utilities Corp                      | Chesapeake Utilities Corp                      | CUSIP: 165303108<br>LEI: 254900WW0FDCKAOCKE74 | Long             | EC               | CORP              | US        |     36116 | NS      | $4341865.52   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp                       | United Therapeutics Corp                       | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |     10700 | NS      | $3074645.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc                         | CACI International Inc                         | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |     11260 | NS      | $5367642.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Autoliv Inc                                    | Autoliv Inc                                    | CUSIP: 052800109<br>LEI: A23RUXWKASG834LTMK28 | Long             | EC               | CORP              | SE        |     18900 | NS      | $2114910.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| CSG Systems International Inc                  | CSG Systems International Inc                  | CUSIP: 126349109<br>LEI: 549300D7FJZUOHHXUA81 | Long             | EC               | CORP              | US        |     39000 | NS      | $2547090.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Oshkosh Corp                                   | Oshkosh Corp                                   | CUSIP: 688239201<br>LEI: 549300FEKNPCFSA2B506 | Long             | EC               | CORP              | US        |     23500 | NS      | $2668190.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy Oil Corp                                | Murphy Oil Corp                                | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | EC               | CORP              | US        |     61600 | NS      | $1386000.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyworks Solutions Inc                         | Skyworks Solutions Inc                         | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | EC               | CORP              | US        |     14400 | NS      | $1073088.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Cargurus Inc                                   | Cargurus Inc                                   | CUSIP: 141788109<br>LEI: 54930027BKQN6B7X7G78 | Long             | EC               | CORP              | US        |    141105 | NS      | $4722784.35   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| American Healthcare REIT Inc                   | American Healthcare REIT Inc                   | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               | CORP              | US        |    107613 | NS      | $3953701.62   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Perdoceo Education Corp                        | Perdoceo Education Corp                        | CUSIP: 71363P106<br>LEI: 529900X5PCA184O9LY90 | Long             | EC               | CORP              | US        |     31500 | NS      | $1029735.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MillerKnoll Inc                                | MillerKnoll Inc                                | CUSIP: 600544100<br>LEI: U98HXD3PNK7HYU2MU887 | Long             | EC               | CORP              | US        |     86600 | NS      | $1681772.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Gap Inc/The                                    | Gap Inc/The                                    | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |     42200 | NS      | $920382.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Host Hotels & Resorts Inc                      | Host Hotels & Resorts Inc                      | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |    130700 | NS      | $2007552.00   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corp                             | First Horizon Corp                             | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |    135800 | NS      | $2878960.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corp                          | Stifel Financial Corp                          | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |    103183 | NS      | $10708331.74  | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics Inc                             | Steel Dynamics Inc                             | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |     12000 | NS      | $1536120.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy Inc                                 | NRG Energy Inc                                 | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |      9500 | NS      | $1525510.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                                 | EPR Properties                                 | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |     45900 | NS      | $2674134.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Goodyear Tire & Rubber Co/The                  | Goodyear Tire & Rubber Co/The                  | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Long             | EC               | CORP              | US        |     70000 | NS      | $725900.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Insurance Holdings I                 | Universal Insurance Holdings Inc               | CUSIP: 91359V107<br>LEI: 529900GGAZ6WVUCWQM46 | Long             | EC               | CORP              | US        |     11600 | NS      | $321668.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO Financial Group Inc                        | CNO Financial Group Inc                        | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |     79400 | NS      | $3063252.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management Inc                  | Annaly Capital Management Inc                  | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |     52450 | NS      | $987109.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corp                                       | Fox Corp                                       | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |     55500 | NS      | $3110220.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln National Corp                          | Lincoln National Corp                          | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |     27700 | NS      | $958420.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SouthState Corp                                | SouthState Corp                                | CUSIP: 840441109<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |     95010 | NS      | $8743770.30   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Financial In                 | Fidelity National Financial Inc                | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |     15000 | NS      | $840900.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Piedmont Realty Trust Inc                      | Piedmont Realty Trust Inc                      | CUSIP: 720190206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     78300 | NS      | $570807.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Brink's Co/The                                 | Brink's Co/The                                 | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |      1800 | NS      | $160722.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloomin' Brands Inc                            | Bloomin' Brands Inc                            | CUSIP: 094235108<br>LEI: E1UJ2GO305B5FXGV7N04 | Long             | EC               | CORP              | US        |     74100 | NS      | $638001.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Griffon Corp                                   | Griffon Corp                                   | CUSIP: 398433102<br>LEI: 5493000C2SGNC7ZN3242 | Long             | EC               | CORP              | US        |     17900 | NS      | $1295423.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ODP Corp/The                                   | ODP Corp/The                                   | CUSIP: 88337F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29100 | NS      | $527583.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group Ltd                              | Everest Group Ltd                              | CUSIP: 000000000<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |     15818 | NS      | $5375747.30   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEX Corp                                      | IDEX Corp                                      | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | EC               | CORP              | US        |     37225 | NS      | $6535593.25   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro MicroSystems Inc                       | Allegro MicroSystems Inc                       | CUSIP: 01749D105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    148749 | NS      | $5085728.31   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Enterprises Inc                         | Apogee Enterprises Inc                         | CUSIP: 037598109<br>LEI: 549300579S7QW8V4IJ60 | Long             | EC               | CORP              | US        |     36200 | NS      | $1469720.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF Government Portfolio                     | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |   2027069 | NS      | $2027069.23   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Trust                        | Kite Realty Group Trust                        | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43400 | NS      | $983010.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Steven Madden Ltd                              | Steven Madden Ltd                              | CUSIP: 556269108<br>LEI: 549300Z9GZ7GYJWSGF43 | Long             | EC               | CORP              | US        |    182602 | NS      | $4378795.96   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| MGM Resorts International                      | MGM Resorts International                      | CUSIP: 552953101<br>LEI: 54930066VBP7DZEGGJ87 | Long             | EC               | CORP              | US        |     32900 | NS      | $1131431.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Capital Corp                              | Ares Capital Corp                              | CUSIP: 04010L103<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | EC               | CORP              | US        |     85300 | NS      | $1873188.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis Inc                                   | Exelixis Inc                                   | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |     89500 | NS      | $3944712.50   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| BioMarin Pharmaceutical Inc                    | BioMarin Pharmaceutical Inc                    | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |       200 | NS      | $10994.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Dick's Sporting Goods Inc                      | Dick's Sporting Goods Inc                      | CUSIP: 253393102<br>LEI: 529900SSBV5I4LWSK313 | Long             | EC               | CORP              | US        |     51141 | NS      | $10116201.21  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| BorgWarner Inc                                 | BorgWarner Inc                                 | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |     41200 | NS      | $1379376.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                                  | Owens Corning                                  | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |     19700 | NS      | $2709144.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlyle Secured Lending Inc                    | Carlyle Secured Lending Inc                    | CUSIP: 872280102<br>LEI: 5493003POT0JT6WD1D83 | Long             | EC               | CORP              | US        |     13100 | NS      | $179208.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Molina Healthcare Inc                          | Molina Healthcare Inc                          | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |      9267 | NS      | $2760639.30   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Viper Energy Inc                               | Viper Energy Inc                               | CUSIP: 927959106<br>LEI: 5299009LINL232255G03 | Long             | EC               | CORP              | US        |    151261 | NS      | $5767581.93   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC Investment Corp                           | MGIC Investment Corp                           | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |    107200 | NS      | $2984448.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Resources Corp                          | Antero Resources Corp                          | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |    142436 | NS      | $5737322.08   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| United Airlines Holdings Inc                   | United Airlines Holdings Inc                   | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               | CORP              | US        |     31900 | NS      | $2540197.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| National Fuel Gas Co                           | National Fuel Gas Co                           | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     32200 | NS      | $2727662.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| JBT Marel Corp                                 | JBT Marel Corp                                 | CUSIP: 477839104<br>LEI: 5493007CT6ATBZ2L6826 | Long             | EC               | CORP              | US        |     62017 | NS      | $7458164.42   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Gates Industrial Corp PLC                      | Gates Industrial Corp PLC                      | CUSIP: 000000000<br>LEI: 549300S6K4FWUSB9KM27 | Long             | EC               | CORP              | US        |    103800 | NS      | $2390514.00   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Uniti Group Inc                                | Uniti Group Inc                                | CUSIP: 91325V108<br>LEI: 549300V3NU625PJUVA84 | Long             | EC               | CORP              | US        |    107160 | NS      | $462931.20    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Harley-Davidson Inc                            | Harley-Davidson Inc                            | CUSIP: 412822108<br>LEI: ZDNAWZWXIKMWI51R2A08 | Long             | EC               | CORP              | US        |     59700 | NS      | $1408920.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financial                            | Synchrony Financial                            | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |     46300 | NS      | $3090062.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Guess? Inc                                     | Guess? Inc                                     | CUSIP: 401617105<br>LEI: 549300QVH3ZK2DW0KP86 | Long             | EC               | CORP              | CH        |     47500 | NS      | $574275.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| New Mountain Finance Corp                      | New Mountain Finance Corp                      | CUSIP: 647551100<br>LEI: 549300L1MPTT1H7SES77 | Long             | EC               | CORP              | US        |     95300 | NS      | $1005415.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Financial Inc                             | Voya Financial Inc                             | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |    113238 | NS      | $8039898.00   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Service Properties Trust                       | Service Properties Trust                       | CUSIP: 81761L102<br>LEI: 529900IS770AG1K9QG27 | Long             | EC               | CORP              | US        |    104300 | NS      | $249277.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| El Pollo Loco Holdings Inc                     | El Pollo Loco Holdings Inc                     | CUSIP: 268603107<br>LEI: 549300EZCBNF4G707K90 | Long             | EC               | CORP              | US        |     91000 | NS      | $1001910.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp                          | Tenet Healthcare Corp                          | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |     10300 | NS      | $1812800.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE Gas Inc                                    | ONE Gas Inc                                    | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |     26699 | NS      | $1918590.14   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Scorpio Tankers Inc                            | Scorpio Tankers Inc                            | CUSIP: 000000000<br>LEI: 549300NVJUH16NXG8K87 | Long             | EC               | CORP              | MC        |     21100 | NS      | $825643.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Haverty Furniture Cos Inc                      | Haverty Furniture Cos Inc                      | CUSIP: 419596101<br>LEI: 529900CVFMMIRXZVPD70 | Long             | EC               | CORP              | US        |     28300 | NS      | $575905.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay General Bancorp                         | Cathay General Bancorp                         | CUSIP: 149150104<br>LEI: 549300K1SLJ8C97H5L68 | Long             | EC               | CORP              | US        |     16300 | NS      | $742139.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| CTO Realty Growth Inc                          | CTO Realty Growth Inc                          | CUSIP: 22948Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22700 | NS      | $391802.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden Property Trust                          | Camden Property Trust                          | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |     65043 | NS      | $7329695.67   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Viatris Inc                                    | Viatris Inc                                    | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |     47900 | NS      | $427747.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| American Axle & Manufacturing                  | American Axle & Manufacturing Holdings Inc     | CUSIP: 024061103<br>LEI: 254900SMQY98VFKNCC32 | Long             | EC               | CORP              | US        |     93200 | NS      | $380256.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CNX Resources Corp                             | CNX Resources Corp                             | CUSIP: 12653C108<br>LEI: 549300JK3KH8PWM3B226 | Long             | EC               | CORP              | US        |     17500 | NS      | $589400.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Silgan Holdings Inc                            | Silgan Holdings Inc                            | CUSIP: 827048109<br>LEI: KAF673KJXD92C8KSLU49 | Long             | EC               | CORP              | US        |      7500 | NS      | $406350.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Perrigo Co PLC                                 | Perrigo Co PLC                                 | CUSIP: 000000000<br>LEI: 549300IFOQS6R1QLY196 | Long             | EC               | CORP              | IE        |    217118 | NS      | $5801392.96   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Services Inc                  | Universal Health Services Inc                  | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |     12900 | NS      | $2336835.00   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingevity Corp                                  | Ingevity Corp                                  | CUSIP: 45688C107<br>LEI: 5493009UTFC4B5IMGF87 | Long             | EC               | CORP              | US        |    151502 | NS      | $6528221.18   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Match Group Inc                                | Match Group Inc                                | CUSIP: 57667L107<br>LEI: 15OMOPB0A8K0EFUVD031 | Long             | EC               | CORP              | US        |     55900 | NS      | $1726751.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| O-I Glass Inc                                  | O-I Glass Inc                                  | CUSIP: 67098H104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30900 | NS      | $455466.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Ennis Inc                                      | Ennis Inc                                      | CUSIP: 293389102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23300 | NS      | $422662.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Inc                                   | Reliance Inc                                   | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |     26061 | NS      | $8180547.90   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Xerox Holdings Corp                            | Xerox Holdings Corp                            | CUSIP: 98421M106<br>LEI: 5493000Y33XDVO2CXC18 | Long             | EC               | CORP              | US        |     61300 | NS      | $323051.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Snap-on Inc                                    | Snap-on Inc                                    | CUSIP: 833034101<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | EC               | CORP              | US        |      3100 | NS      | $964658.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Adeia Inc                                      | Adeia Inc                                      | CUSIP: 00676P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    157800 | NS      | $2231292.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| APA Corp                                       | APA Corp                                       | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |     67600 | NS      | $1236404.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Kemper Corp                                    | Kemper Corp                                    | CUSIP: 488401100<br>LEI: 549300FNI1JKTRY2PV09 | Long             | EC               | CORP              | US        |    157445 | NS      | $10161500.30  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Associated Banc-Corp                           | Associated Banc-Corp                           | CUSIP: 045487105<br>LEI: 549300N3CIN473IW5094 | Long             | EC               | CORP              | US        |     56100 | NS      | $1368279.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Republic International Cor                 | Old Republic International Corp                | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |     48310 | NS      | $1857036.40   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Mosaic Co/The                                  | Mosaic Co/The                                  | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |     37000 | NS      | $1349760.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| ADT Inc                                        | ADT Inc                                        | CUSIP: 00090Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    145700 | NS      | $1234079.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| FS KKR Capital Corp                            | FS KKR Capital Corp                            | CUSIP: 302635206<br>LEI: 549300TYRSI1T21B1360 | Long             | EC               | CORP              | US        |     57750 | NS      | $1198312.50   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                                     | Unum Group                                     | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |     37500 | NS      | $3028500.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO International Inc                        | WESCO International Inc                        | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |     36325 | NS      | $6727390.00   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Wyndham Hotels & Resorts Inc                   | Wyndham Hotels & Resorts Inc                   | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |     93874 | NS      | $7623507.54   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Flex Ltd                                       | Flex Ltd                                       | CUSIP: 000000000<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               | CORP              | US        |    156520 | NS      | $7813478.40   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI Corp                                       | UGI Corp                                       | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |     53000 | NS      | $1930260.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Atkore Inc                                     | Atkore Inc                                     | CUSIP: 047649108<br>LEI: 52990002TI38AM4RPV48 | Long             | EC               | CORP              | US        |     30700 | NS      | $2165885.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| World Kinect Corp                              | World Kinect Corp                              | CUSIP: 981475106<br>LEI: D3W7PCXCBRQLL17DZ313 | Long             | EC               | CORP              | US        |     39900 | NS      | $1131165.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Bank                                   | Cadence Bank                                   | CUSIP: 12740C103<br>LEI: Q7C315HKI8VX0SSKBS64 | Long             | EC               | CORP              | US        |    266936 | NS      | $8536613.28   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Academy Sports & Outdoors Inc                  | Academy Sports & Outdoors Inc                  | CUSIP: 00402L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32965 | NS      | $1477161.65   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Koppers Holdings Inc                           | Koppers Holdings Inc                           | CUSIP: 50060P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37700 | NS      | $1212055.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| ManpowerGroup Inc                              | ManpowerGroup Inc                              | CUSIP: 56418H100<br>LEI: ERO1WSFOSR0JJ6CRQ987 | Long             | EC               | CORP              | US        |     18900 | NS      | $763560.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| First BanCorp/Puerto Rico                      | First BanCorp/Puerto Rico                      | CUSIP: 318672706<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |     23200 | NS      | $483256.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Phinia Inc                                     | Phinia Inc                                     | CUSIP: 71880K101<br>LEI: 254900HG6MORZE1FFM18 | Long             | EC               | CORP              | US        |     12800 | NS      | $569472.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PVH Corp                                       | PVH Corp                                       | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |     23100 | NS      | $1584660.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TEGNA Inc                                      | TEGNA Inc                                      | CUSIP: 87901J105<br>LEI: 549300YC5EDBGX85AO10 | Long             | EC               | CORP              | US        |     69900 | NS      | $1171524.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Ally Financial Inc                             | Ally Financial Inc                             | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |     70700 | NS      | $2753765.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Owl Capital Corp                          | Blue Owl Capital Corp                          | CUSIP: 69121K104<br>LEI: 2549000BD79OOCPF2L94 | Long             | EC               | CORP              | US        |     77200 | NS      | $1107048.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Bladex                                         | Banco Latinoamericano de Comercio Exterior SA  | CUSIP: 000000000<br>LEI: 549300CN3134K4LC0651 | Long             | EC               | CORP              | PA        |     67900 | NS      | $2736370.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Industrial Logistics Propertie                 | Industrial Logistics Properties Trust          | CUSIP: 456237106<br>LEI: 5493004XH9PJW009HR47 | Long             | EC               | CORP              | US        |     63789 | NS      | $290239.95    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Mattel Inc                                     | Mattel Inc                                     | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |    103800 | NS      | $2046936.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Popular Inc                                    | Popular Inc                                    | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |     18700 | NS      | $2060927.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc                     | Brixmor Property Group Inc                     | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |    375068 | NS      | $9766770.72   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| First Busey Corp                               | First Busey Corp                               | CUSIP: 319383204<br>LEI: 549300X4ZNLYSX7GUY60 | Long             | EC               | CORP              | US        |     74400 | NS      | $1702644.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Dropbox Inc                                    | Dropbox Inc                                    | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |     95400 | NS      | $2728440.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc                                        | MKS Inc                                        | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     46987 | NS      | $4668628.32   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| US Foods Holding Corp                          | US Foods Holding Corp                          | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |    116576 | NS      | $8977517.76   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Deluxe Corp                                    | Deluxe Corp                                    | CUSIP: 248019101<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | EC               | CORP              | US        |     29800 | NS      | $474118.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ABM Industries Inc                             | ABM Industries Inc                             | CUSIP: 000957100<br>LEI: QF02R89VEIOROM77J447 | Long             | EC               | CORP              | US        |     33200 | NS      | $1567372.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanmi Financial Corp                           | Hanmi Financial Corp                           | CUSIP: 410495204<br>LEI: 549300MSZ7RCG7EA6587 | Long             | EC               | CORP              | US        |     73400 | NS      | $1811512.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Equitable Holdings Inc                         | Equitable Holdings Inc                         | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |     16400 | NS      | $920040.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Greenbrier Cos Inc/The                         | Greenbrier Cos Inc/The                         | CUSIP: 393657101<br>LEI: 5493001GAGGFR30BP390 | Long             | EC               | CORP              | US        |     18700 | NS      | $861135.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Herbalife Ltd                                  | Herbalife Ltd                                  | CUSIP: 000000000<br>LEI: 549300BA7TYPBSZZIA41 | Long             | EC               | CORP              | US        |    112000 | NS      | $965440.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group Inc                        | Nexstar Media Group Inc                        | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |     18100 | NS      | $3130395.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrow Electronics Inc                          | Arrow Electronics Inc                          | CUSIP: 042735100<br>LEI: 549300YNNLBXT8N8R512 | Long             | EC               | CORP              | US        |     24580 | NS      | $3132229.40   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Reinsurance Group of America I                 | Reinsurance Group of America Inc               | CUSIP: 759351604<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EC               | CORP              | US        |      7500 | NS      | $1487700.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc                   | Citizens Financial Group Inc                   | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     37300 | NS      | $1669175.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX Corp                                 | TD SYNNEX Corp                                 | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |     19200 | NS      | $2605440.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Hospitality REIT Inc                     | Apple Hospitality REIT Inc                     | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               | CORP              | US        |    103500 | NS      | $1207845.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Armada Hoffler Properties Inc                  | Armada Hoffler Properties Inc                  | CUSIP: 04208T108<br>LEI: 549300WQRSIV6XZT9313 | Long             | EC               | CORP              | US        |    100700 | NS      | $691809.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Corebridge Financial Inc                       | Corebridge Financial Inc                       | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               | CORP              | US        |       600 | NS      | $21300.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Winnebago Industries Inc                       | Winnebago Industries Inc                       | CUSIP: 974637100<br>LEI: 549300B7OYKYJLTE3G11 | Long             | EC               | CORP              | US        |     28300 | NS      | $820700.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Macy's Inc                                     | Macy's Inc                                     | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               | CORP              | US        |     51200 | NS      | $596992.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Shutterstock Inc                               | Shutterstock Inc                               | CUSIP: 825690100<br>LEI: 529900G2TDIS56V0LO22 | Long             | EC               | CORP              | US        |     32900 | NS      | $623784.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Middleby Corp/The                              | Middleby Corp/The                              | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |     39981 | NS      | $5757264.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Regional Management Corp                       | Regional Management Corp                       | CUSIP: 75902K106<br>LEI: 549300S5O87W87JW4146 | Long             | EC               | CORP              | US        |     26100 | NS      | $762381.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Textron Inc                                    | Textron Inc                                    | CUSIP: 883203101<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | EC               | CORP              | US        |     60230 | NS      | $4835866.70   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| ArcBest Corp                                   | ArcBest Corp                                   | CUSIP: 03937C105<br>LEI: 5493006S3KBNE8ZS3J23 | Long             | EC               | CORP              | US        |     20700 | NS      | $1594107.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Molson Coors Beverage Co                       | Molson Coors Beverage Co                       | CUSIP: 60871R209<br>LEI: 54930073LBBH6ZCBE225 | Long             | EC               | CORP              | US        |     67600 | NS      | $3250884.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Hope Bancorp Inc                               | Hope Bancorp Inc                               | CUSIP: 43940T109<br>LEI: 549300UTF4QGMBHIZ219 | Long             | EC               | CORP              | US        |     40600 | NS      | $435638.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| PulteGroup Inc                                 | PulteGroup Inc                                 | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27300 | NS      | $2879058.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Valvoline Inc                                  | Valvoline Inc                                  | CUSIP: 92047W101<br>LEI: 549300CMHPBEY6VPOT75 | Long             | EC               | CORP              | US        |    180504 | NS      | $6835686.48   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Inc                                        | PTC Inc                                        | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |     44930 | NS      | $7743236.20   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Preferred Bank/Los Angeles CA                  | Preferred Bank/Los Angeles CA                  | CUSIP: 740367404<br>LEI: 5493007K6HGI9G0ECX16 | Long             | EC               | CORP              | US        |      5000 | NS      | $432725.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Natural Resources Inc                     | Core Natural Resources Inc                     | CUSIP: 218937100<br>LEI: 549300YJCTPJBTK7IJ81 | Long             | EC               | CORP              | US        |      8884 | NS      | $619570.16    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| NetApp Inc                                     | NetApp Inc                                     | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |     28800 | NS      | $3068640.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc                                 | Photronics Inc                                 | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |     82767 | NS      | $1558502.61   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCO Brands Corp                               | ACCO Brands Corp                               | CUSIP: 00081T108<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | EC               | CORP              | US        |    146000 | NS      | $522680.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Crocs Inc                                      | Crocs Inc                                      | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |     12400 | NS      | $1255872.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Holdings Inc                             | Crown Holdings Inc                             | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |     14100 | NS      | $1452018.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| H&R Block Inc                                  | H&R Block Inc                                  | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |     19900 | NS      | $1092311.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Ingalls Industries                  | Huntington Ingalls Industries Inc              | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | EC               | CORP              | US        |      4700 | NS      | $1134862.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresh Del Monte Produce Inc                    | Fresh Del Monte Produce Inc                    | CUSIP: 000000000<br>LEI: 529900I72V9F0FEZR228 | Long             | EC               | CORP              | US        |      8700 | NS      | $282054.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| City Office REIT Inc                           | City Office REIT Inc                           | CUSIP: 178587101<br>LEI: 5493003J7157VP25NL57 | Long             | EC               | CORP              | CA        |    137000 | NS      | $731580.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Belden Inc                                     | Belden Inc                                     | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |     74803 | NS      | $8662187.40   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Ltd                                     | Amdocs Ltd                                     | CUSIP: 000000000<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               | CORP              | US        |     96721 | NS      | $8824824.04   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Victory Capital Holdings Inc                   | Victory Capital Holdings Inc                   | CUSIP: 92645B103<br>LEI: 549300BN5LH2CIPPHS71 | Long             | EC               | CORP              | US        |     39300 | NS      | $2502231.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Playtika Holding Corp                          | Playtika Holding Corp                          | CUSIP: 72815L107<br>LEI: 254900E35Z4TKA4UFG64 | Long             | EC               | CORP              | IL        |    189100 | NS      | $894443.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| TransUnion                                     | TransUnion                                     | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |     77985 | NS      | $6862680.00   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Boise Cascade Co                               | Boise Cascade Co                               | CUSIP: 09739D100<br>LEI: 549300Z8B8LSRHC7XA55 | Long             | EC               | CORP              | US        |     75636 | NS      | $6566717.52   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corp                                       | EQT Corp                                       | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |     26769 | NS      | $1561168.08   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Zions Bancorp NA                               | Zions Bancorp NA                               | CUSIP: 989701107<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | EC               | CORP              | US        |     60500 | NS      | $3142370.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co                           | Matador Resources Co                           | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     64800 | NS      | $3092256.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders FirstSource Inc                       | Builders FirstSource Inc                       | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |      9000 | NS      | $1050210.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Amkor Technology Inc                           | Amkor Technology Inc                           | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |     89900 | NS      | $1887001.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Customers Bancorp Inc                          | Customers Bancorp Inc                          | CUSIP: 23204G100<br>LEI: 549300WLBCHYKZ53FN68 | Long             | EC               | CORP              | US        |      8100 | NS      | $475794.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| OFG Bancorp                                    | OFG Bancorp                                    | CUSIP: 67103X102<br>LEI: 549300Q4QEXJ37LEXQ06 | Long             | EC               | CORP              | PR        |     50300 | NS      | $2152840.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Expedia Group Inc                              | Expedia Group Inc                              | CUSIP: 30212P303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17400 | NS      | $2935032.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Primoris Services Corp                         | Primoris Services Corp                         | CUSIP: 74164F103<br>LEI: 549300UF3OLBJ8D5K349 | Long             | EC               | CORP              | US        |     12500 | NS      | $974250.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanmina Corp                                   | Sanmina Corp                                   | CUSIP: 801056102<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | EC               | CORP              | US        |     13800 | NS      | $1350054.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp                               | HF Sinclair Corp                               | CUSIP: 403949100<br>LEI: 2549009G116AM01XHN24 | Long             | EC               | CORP              | US        |     51400 | NS      | $2111512.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Employers Holdings Inc                         | Employers Holdings Inc                         | CUSIP: 292218104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28300 | NS      | $1335194.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hills Bancorp Inc                    | Berkshire Hills Bancorp Inc                    | CUSIP: 084680107<br>LEI: 549300AS2OC6UMMBNO37 | Long             | EC               | CORP              | US        |     54900 | NS      | $1374696.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Incyte Corp                                    | Incyte Corp                                    | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               | CORP              | US        |     46300 | NS      | $3153030.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Financial Square Government Fund | Goldman Sachs Financial Square Government Fund | CUSIP: 38141W273<br>LEI: 549300BRJMXN4GUWZ402 | Long             | STIV             | RF                | US        |   2027069 | NS      | $2027069.31   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| SunCoke Energy Inc                             | SunCoke Energy Inc                             | CUSIP: 86722A103<br>LEI: 1KF1J2NXQE2PI0QOB943 | Long             | EC               | CORP              | US        |     76500 | NS      | $657135.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphic Packaging Holding Co                   | Graphic Packaging Holding Co                   | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12900 | NS      | $271803.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Penske Automotive Group Inc                    | Penske Automotive Group Inc                    | CUSIP: 70959W103<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | EC               | CORP              | US        |      7600 | NS      | $1305756.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| OneMain Holdings Inc                           | OneMain Holdings Inc                           | CUSIP: 68268W103<br>LEI: 549300E3VEW8SMS5XW09 | Long             | EC               | CORP              | US        |      8400 | NS      | $478800.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CNH Industrial NV                              | CNH Industrial NV                              | CUSIP: 000000000<br>LEI: 549300WGC2HZ5J67V817 | Long             | EC               | CORP              | GB        |    133100 | NS      | $1724976.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Radian Group Inc                               | Radian Group Inc                               | CUSIP: 750236101<br>LEI: 54930005OUP720S5U385 | Long             | EC               | CORP              | US        |     69500 | NS      | $2503390.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| NCR Atleos Corp                                | NCR Atleos Corp                                | CUSIP: 63001N106<br>LEI: 9845005FC3S0VA714741 | Long             | EC               | CORP              | US        |     18600 | NS      | $530658.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Affiliated Managers Group Inc                  | Affiliated Managers Group Inc                  | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |      9500 | NS      | $1869315.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO Corp                                      | AGCO Corp                                      | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |     21800 | NS      | $2248888.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Regions Financial Corp                         | Regions Financial Corp                         | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |     72400 | NS      | $1702848.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryder System Inc                               | Ryder System Inc                               | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | EC               | CORP              | US        |     23200 | NS      | $3688800.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Jabil Inc                                      | Jabil Inc                                      | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     15700 | NS      | $3424170.00   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Cirrus Logic Inc                               | Cirrus Logic Inc                               | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |     15100 | NS      | $1574250.50   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries Inc                         | Mueller Industries Inc                         | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |      6911 | NS      | $549217.17    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoNation Inc                                 | AutoNation Inc                                 | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2300 | NS      | $456895.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| PROG Holdings Inc                              | PROG Holdings Inc                              | CUSIP: 74319R101<br>LEI: 549300DHYTLBOVRXIG52 | Long             | EC               | CORP              | US        |     39600 | NS      | $1162260.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Allison Transmission Holdings                  | Allison Transmission Holdings Inc              | CUSIP: 01973R101<br>LEI: 529900RP7DJ882LI9T83 | Long             | EC               | CORP              | US        |     29700 | NS      | $2821203.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| SLM Corp                                       | SLM Corp                                       | CUSIP: 78442P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22800 | NS      | $747612.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corp                                      | Lear Corp                                      | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |      8300 | NS      | $788334.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Global SA                                | Bunge Global SA                                | CUSIP: 000000000<br>LEI: 254900IVXSV9K0B7PO26 | Long             | EC               | CORP              | US        |     20700 | NS      | $1661796.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Sally Beauty Holdings Inc                      | Sally Beauty Holdings Inc                      | CUSIP: 79546E104<br>LEI: 529900VXW6E8ONDIQ271 | Long             | EC               | CORP              | US        |     65000 | NS      | $601900.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ironwood Pharmaceuticals Inc                   | Ironwood Pharmaceuticals Inc                   | CUSIP: 46333X108<br>LEI: 549300PC8MR6QHH6P296 | Long             | EC               | CORP              | US        |    165200 | NS      | $118481.44    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Outfront Media Inc                             | Outfront Media Inc                             | CUSIP: 69007J304<br>LEI: 549300RZWDYU5722I639 | Long             | EC               | CORP              | US        |     93299 | NS      | $1522639.68   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Corp                                  | M&T Bank Corp                                  | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |     32651 | NS      | $6333967.49   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimball Electronics Inc                        | Kimball Electronics Inc                        | CUSIP: 49428J109<br>LEI: 549300COBYN2GZCBIU87 | Long             | EC               | CORP              | US        |     35600 | NS      | $684588.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Somnigroup International Inc                   | Somnigroup International Inc                   | CUSIP: 88023U101<br>LEI: 549300HFEKVR3US71V91 | Long             | EC               | CORP              | US        |     85993 | NS      | $5851823.65   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Conagra Brands Inc                             | Conagra Brands Inc                             | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Long             | EC               | CORP              | US        |     17400 | NS      | $356178.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Wabash National Corp                           | Wabash National Corp                           | CUSIP: 929566107<br>LEI: 5299004ZAWHQZI5XO485 | Long             | EC               | CORP              | US        |     39500 | NS      | $419885.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Albertsons Cos Inc                             | Albertsons Cos Inc                             | CUSIP: 013091103<br>LEI: 549300YKWOC0AOR16R51 | Long             | EC               | CORP              | US        |    103000 | NS      | $2215530.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| James Hardie Industries PLC                    | James Hardie Industries PLC                    | CUSIP: 47030M106<br>LEI: 635400NSGXKTVOO7JU45 | Long             | EC               | CORP              | IE        |    161669 | NS      | $4347279.41   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Hancock Whitney Corp                           | Hancock Whitney Corp                           | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |     17900 | NS      | $1027460.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Organon & Co                                   | Organon & Co                                   | CUSIP: 68622V106<br>LEI: 549300AMCKY57OK2CO56 | Long             | EC               | CORP              | US        |    107300 | NS      | $1038664.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties Inc                       | Highwoods Properties Inc                       | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |     43800 | NS      | $1361742.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Tapestry Inc                                   | Tapestry Inc                                   | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |     37600 | NS      | $3301656.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| DaVita Inc                                     | DaVita Inc                                     | CUSIP: 23918K108<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | EC               | CORP              | US        |     16400 | NS      | $2336180.00   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC                       | Jazz Pharmaceuticals PLC                       | CUSIP: 000000000<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | IE        |     41800 | NS      | $4435816.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-25

**Name of Applicant:** Optimum Fund Trust

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

**Title:** Division Director - Head of US Fund Administration