# EDGAR Filing Document

**Accession Number:** 0001474103
**File Stem:** 0001752724-23-043221
**Filing Date:** 2023-2
**Character Count:** 258068
**Document Hash:** 11357df4f4b571dabdf39a5b2a79f6fa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-043221.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-043221

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Legg Mason Global Asset Management Trust
- **CENTRAL INDEX KEY:** 0001474103
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22338
- **FILM NUMBER:** 23674226

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INTERNATIONAL DRIVE
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202
- **BUSINESS PHONE:** 410-539-0000

**MAIL ADDRESS:**
- **STREET 1:** 100 INTERNATIONAL DRIVE
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202

## Series and Classes Contracts Data

### Franklin Global Market Neutral Fund (Series ID: S000051512)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000162172 | Class A      | LNFIX           |
| C000162174 | Class C      | LQNCX           |
| C000162177 | Class I      | LQNIX           |
| C000162178 | Class IS     | LQISX           |

## Nport-Ex

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited)** | **December 31, 2022** |

---

(Percentages shown based on Fund net assets)

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |  |
| **COMMON STOCKS - 92.1%** |  |  |  |
| **COMMUNICATION SERVICES - 6.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Telecommunication Services - 1.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AT&T Inc. | 7500 | $138075 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Koninklijke KPN NV | 52000 | 160953 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orange SA | 18520 | 183758 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Diversified Telecommunication Services* |  | *482786* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Entertainment - 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; G5 Entertainment AB | 3528 | 71318 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GungHo Online Entertainment Inc. | 9000 | 145369 | \*<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Entertainment* |  | *216687* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Interactive Media & Services - 2.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Auto Trader Group PLC | 32911 | 204948 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gree Inc. | 20800 | 109912 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kakaku.com Inc. | 6700 | 107506 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rightmove PLC | 29300 | 181263 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yelp Inc. | 6393 | 174785 | \*<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Interactive Media & Services* |  | *778414* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Media - 2.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fuji Media Holdings Inc. | 21000 | 170812 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pearson PLC | 13596 | 153524 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sinclair Broadcast Group Inc., Class A Shares | 9424 | 146166 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SKY Perfect JSAT Holdings Inc. | 59400 | 218294 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ValueCommerce Co. Ltd. | 6300 | 86169 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vivendi SE | 26763 | 255665 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Media* |  | *1030630* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Wireless Telecommunication Services - 0.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freenet AG | 10063 | *218813* | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMUNICATION SERVICES** |  | 2727330 |  |
| **CONSUMER DISCRETIONARY - 9.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Auto Components - 1.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Linamar Corp. | 4300 | 194675 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NGK Spark Plug Co. Ltd. | 12800 | 234587 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Auto Components* |  | *429262* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Automobiles - 0.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bayerische Motoren Werke AG | 1369 | 121204 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subaru Corp. | 7700 | 116579 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Automobiles* |  | *237783* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Distributors - 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inchcape PLC | 18047 | *178183* | <sup>(a)</sup> |

---

**See Notes to Schedule of Investments.** 

Franklin Global Market Neutral Fund 2022 Quarterly Report 1

------

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

(Percentages shown based on Fund net assets)

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Hotels, Restaurants & Leisure - 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; InterContinental Hotels Group PLC | 2450 | $140578 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trainline PLC | 36888 | 122460 | \* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Hotels, Restaurants & Leisure* |  | *263038* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Household Durables - 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Redrow PLC | 28669 | *157103* | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Leisure Products - 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sega Sammy Holdings Inc. | 11500 | 173644 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spin Master Corp. | 4600 | 113199 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Leisure Products* |  | *286843* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Multiline Retail - 0.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dillard's Inc., Class A Shares | 573 | 185193 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; J Front Retailing Co. Ltd. | 15600 | 141573 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Multiline Retail* |  | *326766* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Specialty Retail - 2.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Advance Auto Parts Inc. | 794 | 116742 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AutoZone Inc. | 85 | 209625 | \*<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industria de Diseno Textil SA | 6458 | 171531 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lowe's Cos. Inc. | 989 | 197048 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Arrows Ltd. | 8800 | 123329 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Specialty Retail* |  | *818275* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Textiles, Apparel & Luxury Goods - 2.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Burberry Group PLC | 8190 | 199117 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deckers Outdoor Corp. | 330 | 131723 | \*<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goldwin Inc. | 2700 | 195377 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hermes International | 140 | 216699 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pandora A/S | 3046 | 215296 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Textiles, Apparel & Luxury Goods* |  | *958212* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CONSUMER DISCRETIONARY** |  | 3655465 |  |
| **CONSUMER STAPLES - 7.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Beverages - 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Heineken Holding NV | 2462 | *190141* | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food & Staples Retailing - 4.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alimentation Couche-Tard Inc. | 3900 | 171381 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BJ's Wholesale Club Holdings Inc. | 3294 | 217931 | \*<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Empire Co. Ltd., Class A Shares | 5400 | 142218 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; George Weston Ltd. | 1800 | 223325 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jeronimo Martins SGPS SA | 10750 | 232582 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kesko oyj, Class B Shares | 5371 | 118679 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kroger Co. | 4000 | 178320 | <sup>(b)</sup> |

---

**See Notes to Schedule of Investments.** 

2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Global Market Neutral Fund 2022 Quarterly Report

------

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

(Percentages shown based on Fund net assets)

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food & Staples Retailing - (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lawson Inc. | 3900 | $149099 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loblaw Cos. Ltd. | 2300 | 203365 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Food & Staples Retailing* |  | *1636900* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food Products - 1.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kellogg Co. | 2269 | 161643 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morinaga Milk Industry Co. Ltd. | 4300 | 163283 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tyson Foods Inc., Class A Shares | 1815 | 112984 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Food Products* |  | *437910* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Personal Products - 0.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; L'Oreal SA | 659 | 235986 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USANA Health Sciences Inc. | 1853 | 98580 | \*<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Personal Products* |  | *334566* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Tobacco - 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; British American Tobacco PLC | 3406 | *134735* | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CONSUMER STAPLES** |  | 2734252 |  |
| **ENERGY - 4.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil, Gas & Consumable Fuels - 4.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BP PLC | 37600 | 216950 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eni SpA | 14200 | 201916 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Imperial Oil Ltd. | 3600 | 175347 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inpex Corp. | 14000 | 150436 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | 1700 | 197863 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parex Resources Inc. | 9900 | 147330 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Repsol SA | 14334 | 228155 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Suncor Energy Inc. | 5700 | 180809 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Whitehaven Coal Ltd. | 35500 | 226168 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL ENERGY** |  | 1724974 |  |
| **FINANCIALS - 13.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Banks - 4.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Associated Banc-Corp. | 6244 | 144174 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA | 34400 | 207200 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco de Sabadell SA | 237600 | 223336 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comerica Inc. | 2236 | 149477 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First BanCorp | 10443 | 132835 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC | 223031 | 121711 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NatWest Group PLC | 66286 | 211401 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Societe Generale SA | 7265 | 182233 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Washington Federal Inc. | 5300 | 177815 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zions Bancorp NA | 2326 | 114346 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Banks* |  | *1664528* | |

---

**See Notes to Schedule of Investments.** 

Franklin Global Market Neutral Fund 2022 Quarterly Report 3

------

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

(Percentages shown based on Fund net assets)

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital Markets - 1.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3i Group PLC | 7829 | $126261 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. | 3121 | 142068 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canaccord Genuity Group Inc. | 23600 | 146236 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intermediate Capital Group PLC | 9900 | 136691 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investec PLC | 29681 | 181448 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Capital Markets* |  | *732704* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Finance - 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acom Co. Ltd. | 67200 | 160824 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ally Financial Inc. | 5500 | 134475 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Consumer Finance* |  | *295299* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Financial Services - 1.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fuyo General Lease Co. Ltd. | 2300 | 149933 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jackson Financial Inc., Class A Shares | 5434 | 189049 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plus500 Ltd. | 9500 | 206256 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Voya Financial Inc. | 2650 | 162948 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Diversified Financial Services* |  | *708186* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance - 3.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American International Group Inc. | 3004 | 189973 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aviva PLC | 32007 | 169786 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Axis Capital Holdings Ltd. | 2890 | 156551 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hartford Financial Services Group Inc. | 2099 | 159167 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MetLife Inc. | 3195 | 231222 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance Group of America Inc. | 1100 | 156299 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SCOR SE | 10613 | 244537 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unum Group | 4156 | 170521 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Insurance* |  | *1478056* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Thrifts & Mortgage Finance - 1.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Essent Group Ltd. | 4475 | 173988 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MGIC Investment Corp. | 11011 | 143143 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Radian Group Inc. | 9078 | 173118 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Thrifts & Mortgage Finance* |  | *490249* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL FINANCIALS** |  | 5369022 |  |
| **HEALTH CARE - 8.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Health Care Equipment & Supplies - 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inmode Ltd. | 6095 | *217591* | *\**<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Health Care Providers & Services - 3.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alfresa Holdings Corp. | 14400 | 183043 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AmerisourceBergen Corp. | 900 | 149139 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BML Inc. | 4900 | 124304 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cardinal Health Inc. | 2723 | 209317 | <sup>(b)</sup> |

---

**See Notes to Schedule of Investments.** 

4 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Global Market Neutral Fund 2022 Quarterly Report

------

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

(Percentages shown based on Fund net assets)

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Health Care Providers & Services - (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CVS Health Corp. | 1588 | $147986 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Humana Inc. | 340 | 174144 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McKesson Corp. | 656 | 246079 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Molina Healthcare Inc. | 685 | 226201 | \*<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Health Care Providers & Services* |  | *1460213* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Life Sciences Tools & Services - 1.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mettler-Toledo International Inc. | 125 | 180681 | \*<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Waters Corp. | 638 | 218566 | \*<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Life Sciences Tools & Services* |  | *399247* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pharmaceuticals - 3.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hisamitsu Pharmaceutical Co. Inc. | 7800 | 231540 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indivior PLC | 10350 | 231617 | \*<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ipsen SA | 1605 | 172635 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Laboratorios Farmaceuticos Rovi SA | 4200 | 162326 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Novo Nordisk A/S, Class B Shares | 2076 | 281953 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ono Pharmaceutical Co. Ltd. | 7000 | 163615 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Roche Holding AG | 630 | 197970 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Pharmaceuticals* |  | *1441656* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL HEALTH CARE** |  | 3518707 |  |
| **INDUSTRIALS - 17.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Aerospace & Defense - 1.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BAE Systems PLC | 14983 | 154751 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bombardier Inc., Class B Shares | 6120 | 236257 | \*<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Aerospace & Defense* |  | *391008* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Air Freight & Logistics - 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expeditors International of Washington Inc. | 1839 | *191109* | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Airlines - 1.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines Inc. | 4857 | 159601 | \*<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Qantas Airways Ltd. | 50800 | 205624 | \*<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southwest Airlines Co. | 3965 | 133501 | \*<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Airlines Holdings Inc. | 3100 | 116870 | \* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Airlines* |  | *615596* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building Products - 1.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cie de Saint-Gobain | 4200 | 205467 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forbo Holding AG, Registered Shares | 140 | 164523 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lennox International Inc. | 446 | 106697 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masco Corp. | 3910 | 182480 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Building Products* |  | *659167* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Commercial Services & Supplies - 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Serco Group PLC | 96346 | *181006* | |

---

**See Notes to Schedule of Investments.** 

Franklin Global Market Neutral Fund 2022 Quarterly Report 5

------

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

(Percentages shown based on Fund net assets)

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Construction & Engineering - 0.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Balfour Beatty PLC | 54800 | $*223662* |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrial Conglomerates - 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Smiths Group PLC | 10897 | *209136* | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Machinery - 2.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allison Transmission Holdings Inc. | 4314 | 179462 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amada Co. Ltd. | 24600 | 191569 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DMG Mori Co. Ltd. | 11300 | 149643 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ebara Corp. | 4900 | 174550 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GEA Group AG | 4015 | 163280 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Krones AG | 1498 | 167392 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OKUMA Corp. | 3200 | 113350 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Machinery* |  | *1139246* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Marine - 2.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A.P. Moller - Maersk A/S, Class B Shares | 68 | 152225 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kawasaki Kisen Kaisha Ltd. | 10400 | 220232 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kuehne + Nagel International AG, Registered Shares | 800 | 185986 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nippon Yusen KK | 9500 | 224016 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Marine* |  | *782459* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Professional Services - 2.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ManpowerGroup Inc. | 1981 | 164839 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McMillan Shakespeare Ltd. | 14452 | 132029 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meitec Corp. | 11700 | 212238 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Robert Half International Inc. | 2236 | 165084 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wolters Kluwer NV | 2000 | 209271 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Professional Services* |  | *883461* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Road & Rail - 1.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ArcBest Corp. | 2100 | 147084 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ryder System Inc. | 2283 | 190790 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TFI International Inc. | 1500 | 150233 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Road & Rail* |  | *488107* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Trading Companies & Distributors - 1.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Howden Joinery Group PLC | 30000 | 202571 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marubeni Corp. | 13800 | 158092 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mitsui & Co. Ltd. | 7000 | 203880 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Russel Metals Inc. | 7000 | 148789 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Trading Companies & Distributors* |  | *713332* | |

---

**See Notes to Schedule of Investments.** 

6 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Global Market Neutral Fund 2022 Quarterly Report

------

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

(Percentages shown based on Fund net assets)

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Transportation Infrastructure - 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mitsubishi Logistics Corp. | 5100 | $116975 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sumitomo Warehouse Co. Ltd. | 12000 | 178262 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Transportation Infrastructure* |  | *295237* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INDUSTRIALS** |  | 6772526 |  |
| **INFORMATION TECHNOLOGY - 9.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Communications Equipment - 0.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; F5 Inc. | 878 | 126002 | \*<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nokia oyj, ADR | 40160 | 186342 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Communications Equipment* |  | *312344* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electronic Equipment, Instruments & Components - 1.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amano Corp. | 6600 | 121240 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Celestica Inc. | 17200 | 193849 | \*<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hirose Electric Co. Ltd. | 1000 | 125422 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Horiba Ltd. | 3500 | 151735 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Topcon Corp. | 10200 | 117524 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Electronic Equipment, Instruments & Components* |  | *709770* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **IT Services - 1.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alten SA | 1271 | 159242 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amdocs Ltd. | 1929 | 175346 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indra Sistemas SA | 16458 | 187605 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reply SpA | 1872 | 214752 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total IT Services* |  | *736945* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Semiconductors & Semiconductor Equipment - 1.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ASML Holding NV | 369 | 201198 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Melexis NV | 2439 | 212305 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SCREEN Holdings Co. Ltd. | 2300 | 146665 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Semiconductors & Semiconductor Equipment* |  | *560168* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Software - 2.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Check Point Software Technologies Ltd. | 1916 | 241723 | \*<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fortinet Inc. | 3400 | 166226 | \*<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Qualys Inc. | 1766 | 198198 | \*<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Splunk Inc. | 1588 | 136711 | \*<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Teradata Corp. | 4858 | 163520 | \*<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Software* |  | *906378* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Technology Hardware, Storage & Peripherals - 1.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apple Inc. | 1085 | 140974 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dell Technologies Inc., Class C Shares | 4317 | 173630 | <sup>(b)</sup> |

---

**See Notes to Schedule of Investments.** 

Franklin Global Market Neutral Fund 2022 Quarterly Report 7

------

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

(Percentages shown based on Fund net assets)

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Technology Hardware, Storage & Peripherals - (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NetApp Inc. | 2620 | $157357 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pure Storage Inc., Class A Shares | 6698 | 179238 | \*<sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Technology Hardware, Storage & Peripherals* |  | *651199* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INFORMATION TECHNOLOGY** |  | 3876804 |  |
| **MATERIALS - 7.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals - 4.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CF Industries Holdings Inc. | 2000 | 170400 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chemours Co. | 5740 | 175759 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Huntsman Corp. | 5243 | 144077 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; K+S AG, Registered Shares | 11805 | 232723 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kuraray Co. Ltd. | 22600 | 180880 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mitsubishi Gas Chemical Co. Inc. | 11000 | 151212 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mosaic Co. | 4100 | 179867 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nippon Shokubai Co. Ltd. | 3400 | 135736 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nutrien Ltd. | 2500 | 182515 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shin-Etsu Chemical Co. Ltd. | 1200 | 146535 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yara International ASA | 4497 | 197495 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Chemicals* |  | *1897199* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Containers & Packaging - 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toyo Seikan Group Holdings Ltd. | 11900 | *146005* | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Metals & Mining - 2.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acerinox SA | 22000 | 217477 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alcoa Corp. | 3179 | 144549 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coronado Global Resources Inc. | 128824 | 174177 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Evraz PLC | 66007 | 0 | \*<sup>(a)(c)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hudbay Minerals Inc. | 33400 | 168727 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Iluka Resources Ltd. | 27000 | 173678 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South32 Ltd. | 74225 | 203497 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Metals & Mining* |  | *1082105* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL MATERIALS** |  | 3125309 |  |
| **REAL ESTATE - 3.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Equity Real Estate Investment Trusts (REITs) - 2.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allied Properties Real Estate Investment Trust | 8100 | 153146 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dexus | 32803 | 172218 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPR Properties | 4087 | 154162 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Host Hotels & Resorts Inc. | 11464 | 183997 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kilroy Realty Corp. | 4105 | 158740 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Klepierre SA | 10897 | 251510 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Equity Real Estate Investment Trusts (REITs)* |  | *1073773* | |

---

**See Notes to Schedule of Investments.** 

8 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Global Market Neutral Fund 2022 Quarterly Report

------

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SECURITY** | | **SHARES** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Management & Development - 0.9%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Daito Trust Construction Co. Ltd. |  | 2100 | $215004 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mitsubishi Estate Co. Ltd. |  | 10600 | 137308 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Real Estate Management & Development* |  |  | *352312* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL REAL ESTATE** |  |  | 1426085 |  |
| **UTILITIES - 3.5%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electric Utilities - 0.4%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NRG Energy Inc. |  | 4300 | *136826* |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gas Utilities - 0.7%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nippon Gas Co. Ltd. |  | 9100 | 142408 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tokyo Gas Co. Ltd. |  | 7200 | 140975 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Gas Utilities* |  |  | *283383* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Independent Power and Renewable Electricity Producers - 0.4%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Independent Power and Renewable Electricity Producers - 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electric Power Development Co. Ltd. |  | 10000 | *158819* | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Multi-Utilities - 2.0%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGL Energy Ltd. |  | 41235 | 225724 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Atco Ltd., Class I Shares |  | 5600 | 175279 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrica PLC |  | 190700 | 221796 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Engie SA |  | 11351 | 162388 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Multi-Utilities* |  |  | *785187* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL UTILITIES** |  |  | 1364215 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $34,927,603) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $34,927,603) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $34,927,603) | 36294689 |  |
|  | **RATE** |  |  |  |
| **SHORT-TERM INVESTMENTS - 4.1%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco Treasury Portfolio, Institutional Class<br>(Cost - $1,625,387) | 4.235% | 1625387 | 1625387 | <sup>(e)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS - 96.2%**<br> (Cost - $36,552,990) |  |  | 37920076 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities - 3.8% |  |  | 1501908 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL NET ASSETS - 100.0%** |  |  | $39421984 |  |

---

\* Non-income producing security.

(a) Security is valued in good faith in accordance with procedures approved by the Board of Trustees (Note 1).

(b) All or a portion of this security is held at the broker as collateral for open securities sold short.

(c) Security is valued using significant unobservable inputs (Note 1).

(d) Value is less than $1.

(e) Rate shown is one-day yield as of the end of the reporting period.

<u>Abbreviation(s) used in this schedule:</u> 

 <br> ADR — American Depositary Receipts

**See Notes to Schedule of Investments.** 

Franklin Global Market Neutral Fund 2022 Quarterly Report 9

------

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |
| **SECURITIES SOLD SHORT - (92.7)%** |  |  |
| **COMMON STOCKS - (92.7)%** |  |  |
| **COMMUNICATION SERVICES - (7.2)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Telecommunication Services - (2.0)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cellnex Telecom SA | (4716) | $(156436) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deutsche Telekom AG, Registered Shares | (9209) | (183228) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Infrastrutture Wireless Italiane SpA | (17258) | (174102) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telecom Italia SpA | (760167) | (176171) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vantage Towers AG | (3686) | (126325) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Diversified Telecommunication Services* |  | *(816262* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Entertainment - (1.8)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liberty Media Corp.-Liberty Formula One, Class C Shares | (2057) | (122967) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Manchester United PLC, Class A Shares | (10500) | (244965) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ROBLOX Corp., Class A Shares | (3200) | (91072) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Take-Two Interactive Software Inc. | (1428) | (148698) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toho Co. Ltd. | (3100) | (119492) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Entertainment* |  | *(727194* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Interactive Media & Services - (0.9)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adevinta ASA | (17000) | (112569) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Domain Holdings Australia Ltd. | (59678) | (109165) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Z Holdings Corp. | (47200) | (117883) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Interactive Media & Services* |  | *(339617* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Media - (1.7)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Future PLC | (8087) | (123265) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ITV PLC | (179947) | (162738) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kadokawa Corp. | (7300) | (133358) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shaw Communications Inc., Class B Shares | (6700) | (193033) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Viaplay Group AB | (4126) | (78763) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Media* |  | *(691157* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Wireless Telecommunication Services - (0.8)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rogers Communications Inc., Class B Shares | (3100) | (145086) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SoftBank Group Corp. | (4100) | (173401) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Wireless Telecommunication Services* |  | *(318487* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMUNICATION SERVICES** |  | (2892717) |
| **CONSUMER DISCRETIONARY - (9.6)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Auto Components - (0.2)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ARB Corp. Ltd. | (5259) | *(91272* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Automobiles - (0.4)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toyota Motor Corp. | (11600) | *(158254* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Hotels, Restaurants & Leisure - (3.4)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Churchill Downs Inc. | (560) | (118401) |

---

**See Notes to Schedule of Investments.** 

10 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Global Market Neutral Fund 2022 Quarterly Report

------

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Hotels, Restaurants & Leisure - (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entain PLC | (6500) | $(103513) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flutter Entertainment PLC | (1200) | (164438) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Food & Life Cos. Ltd. | (7100) | (139977) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fuji Kyuko Co. Ltd. | (5200) | (188052) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Genius Sports Ltd. | (30411) | (108567) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Penn Entertainment Inc. | (3559) | (105702) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Planet Fitness Inc., Class A Shares | (1550) | (122140) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wingstop Inc. | (950) | (130739) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zensho Holdings Co. Ltd. | (4900) | (123069) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Hotels, Restaurants & Leisure* |  | *(1304598* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Household Durables - (1.2)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fujitsu General Ltd. | (6400) | (153000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Garmin Ltd. | (1485) | (137051) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Iida Group Holdings Co. Ltd. | (8900) | (135129) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nagawa Co. Ltd. | (1400) | (79417) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Household Durables* |  | *(504597* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Internet & Direct Marketing Retail - (3.5)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amazon.com Inc. | (1186) | (99624) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Auction Technology Group PLC | (13033) | (118487) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BHG Group AB | (16283) | (29079) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delivery Hero SE | (3300) | (158366) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DoorDash Inc., Class A Shares | (2286) | (111603) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Farfetch Ltd., Class A Shares | (17606) | (83276) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Just Eat Takeaway.com NV | (6500) | (138349) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mercari Inc. | (7800) | (158645) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prosus NV | (2800) | (193322) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rakuten Group Inc. | (23000) | (103663) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; THG PLC | (195804) | (104637) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Internet & Direct Marketing Retail* |  | *(1299051* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Leisure Products - (0.3)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thule Group AB | (5565) | *(116562* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Multiline Retail - (0.3)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wesfarmers Ltd. | (4345) | *(135509* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Textiles, Apparel & Luxury Goods - (0.3)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On Holding AG, Class A Shares | (7000) | *(120120* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CONSUMER DISCRETIONARY** |  | (3729963) |

---

**See Notes to Schedule of Investments.** 

Franklin Global Market Neutral Fund 2022 Quarterly Report 11

------

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |
| **CONSUMER STAPLES - (6.7)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Beverages - (0.8)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anheuser-Busch InBev SA/NV | (2400) | $(144554) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boston Beer Co. Inc., Class A Shares | (514) | (169373) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Beverages* |  | *(313927* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food & Staples Retailing - (2.6)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aeon Co. Ltd. | (10100) | (213266) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Endeavour Group Ltd. | (29953) | (130353) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; J Sainsbury PLC | (70881) | (185908) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kobe Bussan Co. Ltd. | (4900) | (141224) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MatsukiyoCocokara & Co. | (3200) | (160844) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ocado Group PLC | (18521) | (137482) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shop Apotheke Europe NV | (1944) | (91729) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Food & Staples Retailing* |  | *(1060806* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food Products - (1.6)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freshpet Inc. | (2190) | (115566) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; J & J Snack Foods Corp. | (933) | (139679) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kagome Co. Ltd. | (6300) | (146052) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McCormick & Co. Inc., Non Voting Shares | (1600) | (132624) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Premium Brands Holdings Corp. | (1600) | (97229) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Food Products* |  | *(631150* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Household Products - (0.7)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reynolds Consumer Products Inc. | (4200) | (125916) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unicharm Corp. | (3900) | (149316) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Household Products* |  | *(275232* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Personal Products - (1.0)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Haleon PLC | (35000) | (138482) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unilever PLC, ADR | (4400) | (221540) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Personal Products* |  | *(360022* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CONSUMER STAPLES** |  | (2641137) |
| **ENERGY - (4.0)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Energy Equipment & Services - (0.7)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John Wood Group PLC | (76598) | (124136) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Worley Ltd. | (14519) | (148101) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Energy Equipment & Services* |  | *(272237* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil, Gas & Consumable Fuels - (3.3)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enbridge Inc. | (4500) | (175879) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enviva Inc. | (1739) | (92115) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Iwatani Corp. | (3400) | (148908) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kinetik Holdings Inc. | (3772) | (124778) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NexGen Energy Ltd. | (39300) | (173860) |

---

**See Notes to Schedule of Investments.** 

12 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Global Market Neutral Fund 2022 Quarterly Report

------

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil, Gas & Consumable Fuels - (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parkland Corp. | (7500) | $(164568) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PrairieSky Royalty Ltd. | (13600) | (217962) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TC Energy Corp. | (3800) | (151495) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tellurian Inc. | (38639) | (64914) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Oil, Gas & Consumable Fuels* |  | *(1314479* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL ENERGY** |  | (1586716) |
| **FINANCIALS - (13.8)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Banks - (5.5)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of Kyoto Ltd. | (5000) | (221806) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canadian Imperial Bank of Commerce | (2900) | (117306) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Financial Bankshares Inc. | (4508) | (155075) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Glacier Bancorp Inc. | (2972) | (146876) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Home BancShares Inc. | (5300) | (120787) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares Inc. | (12493) | (176151) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group Inc., ADR | (27300) | (182091) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Australia Bank Ltd. | (7740) | (157150) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pacific Premier Bancorp Inc. | (4001) | (126272) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prosperity Bancshares Inc. | (2097) | (152410) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Resona Holdings Inc. | (28600) | (157083) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ServisFirst Bancshares Inc. | (1600) | (110256) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shinsei Bank Ltd. | (10300) | (167358) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Bankshares Inc. | (3478) | (140824) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Banks* |  | *(2131445* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital Markets - (4.6)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allfunds Group PLC | (19549) | (137092) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ares Management Corp., Class A Shares | (1770) | (121139) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BlackRock Inc. | (170) | (120467) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blue Owl Capital Inc. | (13395) | (141987) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brookfield Asset Management Ltd., Class A Shares | (1076) | (30856) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brookfield Corp. | (4305) | (135435) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab Corp. | (2228) | (185503) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EQT AB | (8002) | (170005) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moody's Corp. | (579) | (161321) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSCI Inc. | (359) | (166996) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nasdaq Inc. | (1950) | (119632) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; S&P Global Inc. | (542) | (181537) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tradeweb Markets Inc., Class A Shares | (2383) | (154728) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Capital Markets* |  | *(1826698* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Financial Services - (1.2)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Challenger Ltd. | (30068) | (154602) |

---

**See Notes to Schedule of Investments.** 

Franklin Global Market Neutral Fund 2022 Quarterly Report 13

------

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Financial Services - (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrivarden AB, Class C Shares | (7220) | $(175175) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investor AB, Class B Shares | (8700) | (157478) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Diversified Financial Services* |  | *(487255* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance - (2.5)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arthur J Gallagher & Co. | (1073) | (202303) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BRP Group Inc., Class A Shares | (5088) | (127912) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kemper Corp. | (2858) | (140614) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prudential PLC | (9000) | (122718) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tokio Marine Holdings Inc. | (7600) | (162354) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tryg A/S | (9135) | (217098) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Insurance* |  | *(972999* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL FINANCIALS** |  | (5418397) |
| **HEALTH CARE - (8.9)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Health Care Equipment & Supplies - (4.6)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alcon Inc. | (2857) | (196044) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ambu A/S, Class B Shares | (8800) | (113015) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asahi Intecc Co. Ltd. | (11800) | (192485) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Baxter International Inc. | (2400) | (122328) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ConvaTec Group PLC | (58200) | (162999) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EssilorLuxottica SA | (1287) | (232861) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insulet Corp. | (612) | (180167) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Penumbra Inc. | (571) | (127025) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ResMed Inc. | (594) | (123629) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Siemens Healthineers AG | (3451) | (172142) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stryker Corp. | (800) | (195592) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Health Care Equipment & Supplies* |  | *(1818287* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Health Care Providers & Services - (0.6)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guardant Health Inc. | (3220) | (87584) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HealthEquity Inc. | (2817) | (173640) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Health Care Providers & Services* |  | *(261224* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Health Care Technology - (0.4)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Definitive Healthcare Corp. | (8116) | (89195) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JMDC Inc. | (3000) | (86056) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Health Care Technology* |  | *(175251* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Life Sciences Tools & Services - (2.7)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bachem Holding AG | (2057) | (178487) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eurofins Scientific SE | (1700) | (122057) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Evotec SE | (7515) | (122255) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illumina Inc. | (713) | (144169) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sartorius Stedim Biotech | (370) | (120238) |

---

**See Notes to Schedule of Investments.** 

14 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Global Market Neutral Fund 2022 Quarterly Report

------

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Life Sciences Tools & Services - (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tecan Group AG, Registered Shares | (388) | $(173685) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thermo Fisher Scientific Inc. | (323) | (177873) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Life Sciences Tools & Services* |  | *(1038764* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pharmaceuticals - (0.6)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AstraZeneca PLC | (957) | (129501) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dechra Pharmaceuticals PLC | (4206) | (132572) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Pharmaceuticals* |  | *(262073* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL HEALTH CARE** |  | (3555599) |
| **INDUSTRIALS - (17.8)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Aerospace & Defense - (1.7)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boeing Co. | (1028) | (195824) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CAE Inc. | (6600) | (127662) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raytheon Technologies Corp. | (1300) | (131196) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rolls-Royce Holdings PLC | (199046) | (222329) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Aerospace & Defense* |  | *(677011* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Airlines - (0.3)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wizz Air Holdings PLC | (4973) | *(113711* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building Products - (0.4)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Daikin Industries Ltd. | (1000) | *(151714* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Commercial Services & Supplies - (2.3)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Biffa PLC | (37792) | (186136) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleanaway Waste Management Ltd. | (67452) | (120188) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GFL Environmental Inc. | (6500) | (189815) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan Elevator Service Holdings Co. Ltd. | (11200) | (139227) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rentokil Initial PLC | (19447) | (119478) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Secom Co. Ltd. | (2000) | (114116) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Commercial Services & Supplies* |  | *(868960* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Construction & Engineering - (0.4)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SNC-Lavalin Group Inc. | (9000) | (158597) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electrical Equipment - (2.3)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emerson Electric Co. | (1800) | (172908) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nordex SE | (14062) | (197909) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Regal Rexnord Corp. | (862) | (103423) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Siemens Gamesa Renewable Energy SA | (10462) | (201858) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vestas Wind Systems A/S | (7726) | (225373) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Electrical Equipment* |  | *(901471* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrial Conglomerates - (1.1)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aker ASA, Class A Shares | (1500) | (110155) |

---

**See Notes to Schedule of Investments.** 

Franklin Global Market Neutral Fund 2022 Quarterly Report 15

------

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrial Conglomerates - (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hitachi Ltd. | (3900) | $(196233) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Storskogen Group AB, Class B Shares | (138904) | (99517) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Industrial Conglomerates* |  | *(405905* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Machinery - (4.2)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alstom SA | (4575) | (111935) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chart Industries Inc. | (400) | (46092) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fluidra SA | (8345) | (129757) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kubota Corp. | (11000) | (150276) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kurita Water Industries Ltd. | (5100) | (210654) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Makita Corp. | (6600) | (153748) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MINEBEA MITSUMI Inc. | (7800) | (115565) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sandvik AB | (8700) | (157223) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SKF AB, Class B Shares | (9058) | (138348) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stanley Black & Decker Inc. | (1600) | (120192) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valmet oyj | (7548) | (203756) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yaskawa Electric Corp. | (3700) | (118050) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Machinery* |  | *(1655596* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Professional Services - (2.2)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adecco Group AG, Registered Shares | (4172) | (137237) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Benefit One Inc. | (8600) | (125551) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clarivate PLC | (11775) | (98203) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dun & Bradstreet Holdings Inc. | (13588) | (166589) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equifax Inc. | (685) | (133137) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RWS Holdings PLC | (33534) | (152272) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransUnion | (1885) | (106974) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Professional Services* |  | *(919963* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Road & Rail - (1.6)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ALD SA | (10300) | (118841) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canadian Pacific Railway Ltd. | (2100) | (156569) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hankyu Hanshin Holdings Inc. | (6300) | (186654) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tokyu Corp. | (11400) | (143571) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Road & Rail* |  | *(605635* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Transportation Infrastructure - (1.3)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Auckland International Airport Ltd. | (35418) | (175659) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan Airport Terminal Co. Ltd. | (3600) | (177542) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transurban Group | (16742) | (147294) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Transportation Infrastructure* |  | *(500495* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INDUSTRIALS** |  | (6959058) |

---

**See Notes to Schedule of Investments.** 

16 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Global Market Neutral Fund 2022 Quarterly Report

------

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |
| **INFORMATION TECHNOLOGY - (9.7)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Communications Equipment - (0.3)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Viasat Inc. | (4345) | $*(137519* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electronic Equipment, Instruments & Components - (1.0)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hexagon AB, Class B Shares | (15262) | (160023) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Omron Corp. | (2300) | (111154) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Teledyne Technologies Inc. | (300) | (119973) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Electronic Equipment, Instruments & Components* |  | *(391150* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **IT Services - (3.5)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affirm Holdings Inc. | (3993) | (38612) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cloudflare Inc., Class A Shares | (2500) | (113025) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Information Services Inc. | (1845) | (125183) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GMO Payment Gateway Inc. | (2300) | (190208) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Netcompany Group A/S | (3201) | (136210) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nexi SpA | (14514) | (114573) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NEXTDC Ltd. | (26866) | (165779) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nomura Research Institute Ltd. | (4600) | (109360) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paysafe Ltd. | (6888) | (95675) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shopify Inc., Class A Shares | (5000) | (173597) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Worldline SA | (4495) | (176035) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total IT Services* |  | *(1438257* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Semiconductors & Semiconductor Equipment - (0.7)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entegris Inc. | (1900) | (124621) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lasertec Corp. | (900) | (146944) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Semiconductors & Semiconductor Equipment* |  | *(271565* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Software - (4.2)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AVEVA Group PLC | (6092) | (235803) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bentley Systems Inc., Class B Shares | (3712) | (137196) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black Knight Inc. | (2228) | (137579) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ceridian HCM Holding Inc. | (2857) | (183277) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cint Group AB | (22293) | (89609) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DoubleVerify Holdings Inc. | (5000) | (109800) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lightspeed Commerce Inc. | (7200) | (102895) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Forward Inc. | (4500) | (138992) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paycor HCM Inc. | (4300) | (105221) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UiPath Inc., Class A Shares | (10288) | (130760) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unity Software Inc. | (2319) | (66300) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VMware Inc., Class A Shares | (1485) | (182299) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Software* |  | *(1619731* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INFORMATION TECHNOLOGY** |  | (3858222) |

---

**See Notes to Schedule of Investments.** 

Franklin Global Market Neutral Fund 2022 Quarterly Report 17

------

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |
| **MATERIALS - (8.3)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals - (5.2)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Air Liquide SA | (1098) | $(155845)<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Akzo Nobel NV | (2200) | (147626)<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Croda International PLC | (2283) | (181678)<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ecolab Inc. | (1223) | (178020) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Givaudan SA, Registered Shares | (53) | (162334)<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; International Flavors & Fragrances Inc. | (1545) | (161978) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JSR Corp. | (5300) | (103781)<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Koninklijke DSM NV | (1293) | (158773)<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nippon Paint Holdings Co. Ltd. | (24100) | (189284)<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PPG Industries Inc. | (1257) | (158055) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quaker Chemical Corp. | (719) | (120001) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sherwin-Williams Co. | (616) | (146195) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sika AG, Registered Shares | (570) | (137030)<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Chemicals* |  | *(2000600* *)* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Construction Materials - (0.4)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Holcim AG | (3200) | *(165643* *)*<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Containers & Packaging - (1.4)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AptarGroup Inc. | (1352) | (148693) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ball Corp. | (2383) | (121867) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SIG Group AG | (6470) | (141377)<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Smurfit Kappa Group PLC | (3429) | (127080)<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Containers & Packaging* |  | *(539017* *)* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Metals & Mining - (1.3)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Antofagasta PLC | (10947) | (204354)<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fortescue Metals Group Ltd. | (12919) | (180571)<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wheaton Precious Metals Corp. | (3500) | (136743) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Metals & Mining* |  | *(521668* *)* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL MATERIALS** |  | (3226928) |
| **REAL ESTATE - (3.6)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Equity Real Estate Investment Trusts (REITs) - (3.3)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AEON REIT Investment Corp. | (118) | (138486)<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp. | (822) | (174149) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Crown Castle Inc. | (1094) | (148390) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Daiwa House REIT Investment Corp. | (63) | (140469)<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GLP J-REIT | (136) | (156628)<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nippon Prologis REIT Inc. | (50) | (117229)<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Primary Health Properties PLC | (82313) | (110233)<sup>(a)</sup> |

---

**See Notes to Schedule of Investments.** 

18 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Global Market Neutral Fund 2022 Quarterly Report

------

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Equity Real Estate Investment Trusts (REITs) - (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realty Income Corp. | (2704) | $(171515) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warehouses De Pauw CVA | (4100) | (117452) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Equity Real Estate Investment Trusts (REITs)* |  | *(1274551* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Management & Development - (0.3)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Altus Group Ltd. | (3200) | *(127716* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL REAL ESTATE** |  | (1402267) |
| **UTILITIES - (3.1)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electric Utilities - (0.7)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy Inc. | (2060) | (172216) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PG&E Corp. | (7200) | (117072) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Electric Utilities* |  | *(289288* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gas Utilities - (0.4)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; APA Group | (24008) | *(175484* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Independent Power and Renewable Electricity Producers - (0.5)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Neoen SA | (5259) | *(212668* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Multi-Utilities - (1.0)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dominion Energy Inc. | (2125) | (130305) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Grid PLC | (10400) | (124585) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veolia Environnement SA | (6469) | (166217) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Multi-Utilities* |  | *(421107* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Water Utilities - (0.5)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Severn Trent PLC | (5607) | *(179133* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL UTILITIES** |  | (1277680) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL SECURITIES SOLD SHORT (PROCEEDS - $(43565232))** |  | $(36548684) |

---

\* Non-income producing security.

(a) Security is valued in good faith in accordance with procedures approved by the Board of Trustees (Note 1).

<u>Abbreviation(s) used in this schedule:</u> 

---

| | |
|:---|:---|
| ADR | — American Depositary Receipts |
| CVA | — Certificaaten van aandelen (Share Certificates) |
| REIT | — Real Estate Investment Trust |

---

At December 31, 2022, the Fund had the following open forward foreign currency contracts:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency<br>Purchased** | **Currency<br>Purchased** | **Currency**<br>**Sold** | **Currency**<br>**Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)** |
| USD | 4012114 | GBP | 3228000 | Bank of New York | 1/20/23 | $107354 |
| USD | 6450496 | JPY | 865018000 | Bank of New York | 1/20/23 | (159316) |

---

**See Notes to Schedule of Investments.** 

Franklin Global Market Neutral Fund 2022 Quarterly Report 19

------

**FRANKLIN GLOBAL MARKET NEUTRAL FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency**<br>**Purchased** | **Currency**<br>**Purchased** | **Currency**<br>**Sold** | **Currency**<br>**Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)** |
| USD | 2795144 | CAD | 3789000 | Citibank N.A. | 1/20/23 | $(3514) |
| USD | 5824729 | EUR | 5448000 | Northern Trust Co. | 1/20/23 | (15710) |
| Total |  |  |  |  |  | $(71186) |

---

---

| | |
|:---|:---|
| <u>Abbreviation(s) used in this table:</u> | <u>Abbreviation(s) used in this table:</u> |
| CAD | — Canadian Dollar |
| EUR | — Euro |
| GBP | — British Pound |
| JPY | — Japanese Yen |
| USD | — United States Dollar |

---

This Schedule of Investments is unaudited and is intended to provide information about the Fund's investments as of the date of the schedule. Other information regarding the Fund is available in the Fund's most recent annual or semi-annual shareholder report.

**See Notes to Schedule of Investments.** 

20 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Global Market Neutral Fund 2022 Quarterly Report

------

**Notes to Schedule of Investments (unaudited)** 

**1. Organization and significant accounting policies** 

Franklin Global Market Neutral Fund (the "Fund") is a separate diversified investment series of Legg Mason Global Asset Management Trust (the "Trust"). The Trust, a Maryland statutory trust, is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company.

The Fund follows the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services –Investment Companies* ("ASC 946"). The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles ("GAAP"), including, but not limited to, ASC 946.

**(a) Investment valuation.** Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. When the Fund holds securities or other assets that are denominated in a foreign currency, the Fund will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund's Board of Trustees. This may include using an independent third party pricing service to adjust the value of such securities to the latest indications of fair value at 4:00 p.m. (Eastern Time).

Pursuant to policies adopted by the Board of Trustees, the Fund's manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Fund's manager is assisted by the Global Fund Valuation Committee (the "Valuation Committee"). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Fund's pricing policies, and reporting to

<br>21<br>

------

**Notes to Schedule of Investments (unaudited) (cont'd)** 

the Fund's manager and the Board of Trustees. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer's financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts' research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board of Trustees quarterly.

The Fund uses valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.

GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – unadjusted quoted prices in active markets for identical investments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – other significant observable inputs (including quoted prices for similar investments,
interest rates, prepayment speeds, credit risk, etc.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining the
fair value of investments)

<br>22<br>

------

**Notes to Schedule of Investments (unaudited) (cont'd)** 

The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used in valuing the Fund's assets and liabilities carried at fair value:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| **DESCRIPTION** | **QUOTED PRICES<br>(LEVEL 1)** | **OTHER SIGNIFICANT**<br>**OBSERVABLE INPUTS**<br>**(LEVEL 2)\*** | **SIGNIFICANT**<br>**UNOBSERVABLE**<br>**INPUTS**<br>**(LEVEL 3)** |  | **TOTAL** |
|  Long-Term Investments†: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common Stocks: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication Services | $459026 | $2268304 |  |  | $2727330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | 1270665 | 2384800 |  |  | 3655465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples | 1509747 | 1224505 |  |  | 2734252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 701349 | 1023625 |  |  | 1724974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 3047405 | 2321617 |  |  | 5369022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | 1769704 | 1749003 |  |  | 3518707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 2677464 | 4095062 |  |  | 6772526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | 2239116 | 1637688 |  |  | 3876804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 1165894 | 1959415 | $0 | \*\* | 3125309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate | 650045 | 776040 |  |  | 1426085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 312105 | 1052110 |  |  | 1364215 |
|  Total Long-Term Investments | 15802520 | 20492169 | 0 | \*\* | 36294689 |
|  Short-Term Investments† | 1625387 |  |  |  | 1625387 |
|  Total Investments | $17427907 | $20492169 | $0 | \*\* | $37920076 |
|  Other Financial Instruments: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† |  | $107354 |  |  | $107354 |
|  Total | $17427907 | $20599523 | $0 | \*\* | $38027430 |

---

<br>23<br>

------

**Notes to Schedule of Investments (unaudited) (cont'd)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **LIABILITIES** | **LIABILITIES** | **LIABILITIES** | **LIABILITIES** | **LIABILITIES** |
| **DESCRIPTION** | **QUOTED PRICES<br>(LEVEL 1)** | **OTHER SIGNIFICANT<br>OBSERVABLE INPUTS<br>(LEVEL 2)\*** | **SIGNIFICANT<br>UNOBSERVABLE<br>INPUTS**<br>**(LEVEL 3)** | **TOTAL** |
|  Securities Sold Short†: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication Services | $945821 | $1946896 |  | $2892717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | 1255710 | 2474253 |  | 3729963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples | 1001927 | 1639210 |  | 2641137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 1165571 | 421145 |  | 1586716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 3418478 | 1999919 |  | 5418397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | 1421202 | 2134397 |  | 3555599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 2245589 | 4713469 |  | 6959058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | 2083532 | 1774690 |  | 3858222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 1171552 | 2055376 |  | 3226928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate | 621770 | 780497 |  | 1402267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 419593 | 858087 |  | 1277680 |
|  Total Securities Sold Short | 15750745 | 20797939 |  | 36548684 |
|  Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† |  | 178540 |  | 178540 |
|  Total | $15750745 | $20976479 |  | $36727224 |

---

\* As a result of the fair value pricing procedures for international equities utilized by the Fund, which account for events occurring after the close of the principal market of the security but prior to the calculation of the Fund's net asset value, certain securities were classified as Level 2 within the fair value hierarchy. 

† See Schedule of Investments for additional detailed categorizations.

\*\* Amount represents less than $1. 

†† Reflects the unrealized appreciation (depreciation) of the instruments.

<br>24<br>

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Legg Mason Global Asset Management Trust

- **b. Investment Company Act file number:** 811-22338

- **c. CIK number of Registrant:** 0001474103

- **d. LEI of Registrant:** 549300BI5I8NVF50DG69

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

  - **Street Address 1:** 620 Eighth Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10018

  - **Telephone number:** 1-877-656-3863

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

- **a. Name of Series:** Franklin Global Market Neutral Fund

- **b. EDGAR series identifier (if any):** S000051512

- **c. LEI of Series:** 54930086R3GNRL716522

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

- **a. Date of fiscal year-end:** 2023-09-30

- **b. Date as of which information is reported:** 2022-12-30

**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:** $77150900.26

**Total Liabilities:** $37723411.65

**Net Assets:** $39427488.61

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000162172 | 2.34%                | 0.29%                | 1.80%                |
| Class ID C000162174 | 2.22%                | 0.20%                | 1.68%                |
| Class ID C000162178 | 2.41%                | 0.28%                | 1.81%                |
| Class ID C000162177 | 2.22%                | 0.28%                | 1.81%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $114660.91               | $756205.24                                 |
| Month 2  | $972791.87               | $71333.05                                  |
| Month 3  | $-173260.43              | $1257951.47                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| EQT AB                         | EQT AB                                         | CUSIP: 000000000<br>LEI: 213800U7P9GOIRKCTB34 | Short            | EC               | CORP              | SE        |      -8002 | NS      | $-170004.73   | -0.43%            |  |  |  | No            |                  2 | On Loan: No      |
| Japan Elevator Service Holding | Japan Elevator Service Holdings Co Ltd         | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | JP        |     -11200 | NS      | $-139227.46   | -0.35%            |  |  |  | No            |                  2 | On Loan: No      |
| Cloudflare Inc                 | Cloudflare Inc                                 | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Short            | EC               | CORP              | US        |      -2500 | NS      | $-113025.00   | -0.29%            |  |  |  | No            |                  1 | On Loan: No      |
| Celestica Inc                  | Celestica Inc                                  | CUSIP: 15101Q108<br>LEI: 549300J3CG5T6RZWLN53 | Long             | EC               | CORP              | CA        |      17200 | NS      | $193849.34    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Yusen KK                | Nippon Yusen KK                                | CUSIP: 000000000<br>LEI: 353800YPW4XM0ZN5I149 | Long             | EC               | CORP              | JP        |       9500 | NS      | $224016.14    | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Stanley Black & Decker Inc     | Stanley Black & Decker Inc                     | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Short            | EC               | CORP              | US        |      -1600 | NS      | $-120192.00   | -0.30%            |  |  |  | No            |                  1 | On Loan: No      |
| 3i Group PLC                   | 3i Group PLC                                   | CUSIP: 000000000<br>LEI: 35GDVHRBMFE7NWATNM84 | Long             | EC               | CORP              | GB        |       7829 | NS      | $126260.97    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Ipsen SA                       | Ipsen SA                                       | CUSIP: 000000000<br>LEI: 549300M6SGDPB4Z94P11 | Long             | EC               | CORP              | FR        |       1605 | NS      | $172634.80    | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Acerinox SA                    | Acerinox SA                                    | CUSIP: 000000000<br>LEI: 95980020140005582721 | Long             | EC               | CORP              | ES        |      22000 | NS      | $217477.18    | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Endeavour Group Ltd/Australia  | Endeavour Group Ltd/Australia                  | CUSIP: 000000000<br>LEI: 254900JAN9FOLMWAD533 | Short            | EC               | CORP              | AU        |     -29953 | NS      | $-130353.13   | -0.33%            |  |  |  | No            |                  2 | On Loan: No      |
| Huntington Bancshares Inc/OH   | Huntington Bancshares Inc/OH                   | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Short            | EC               | CORP              | US        |     -12493 | NS      | $-176151.30   | -0.45%            |  |  |  | No            |                  1 | On Loan: No      |
| Indra Sistemas SA              | Indra Sistemas SA                              | CUSIP: 000000000<br>LEI: 95980020140005308793 | Long             | EC               | CORP              | ES        |      16458 | NS      | $187604.82    | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke DSM NV             | Koninklijke DSM NV                             | CUSIP: 000000000<br>LEI: 724500SNT1MK246AHP04 | Short            | EC               | CORP              | NL        |      -1293 | NS      | $-158773.44   | -0.40%            |  |  |  | No            |                  2 | On Loan: No      |
| Kadokawa Corp                  | Kadokawa Corp                                  | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | JP        |      -7300 | NS      | $-133358.50   | -0.34%            |  |  |  | No            |                  2 | On Loan: No      |
| Lightspeed Commerce Inc        | Lightspeed Commerce Inc                        | CUSIP: 53229C107<br>LEI: 254900T8MDWRTGMFZ257 | Short            | EC               | CORP              | CA        |      -7200 | NS      | $-102895.13   | -0.26%            |  |  |  | No            |                  1 | On Loan: No      |
| Expeditors International of Wa | Expeditors International of Washington Inc     | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |       1839 | NS      | $191108.88    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Financial Inc             | Voya Financial Inc                             | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |       2050 | NS      | $126054.50    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens Healthineers AG        | Siemens Healthineers AG                        | CUSIP: 000000000<br>LEI: 529900QBVWXMWANH7H45 | Short            | EC               | CORP              | DE        |      -3451 | NS      | $-172141.58   | -0.44%            |  |  |  | No            |                  2 | On Loan: No      |
| Siemens Gamesa Renewable Energ | Siemens Gamesa Renewable Energy SA             | CUSIP: 000000000<br>LEI: 9598004BR8D81D3M1D64 | Short            | EC               | CORP              | ES        |     -10462 | NS      | $-201858.01   | -0.51%            |  |  |  | No            |                  2 | On Loan: No      |
| Glacier Bancorp Inc            | Glacier Bancorp Inc                            | CUSIP: 37637Q105<br>LEI: 549300SMJAUKZB5D7V74 | Short            | EC               | CORP              | US        |      -2972 | NS      | $-146876.24   | -0.37%            |  |  |  | No            |                  1 | On Loan: No      |
| Allison Transmission Holdings  | Allison Transmission Holdings Inc              | CUSIP: 01973R101<br>LEI: 529900RP7DJ882LI9T83 | Long             | EC               | CORP              | US        |       4314 | NS      | $179462.40    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurofins Scientific SE         | Eurofins Scientific SE                         | CUSIP: 000000000<br>LEI: 529900JEHFM47DYY3S57 | Short            | EC               | CORP              | LU        |      -1700 | NS      | $-122056.96   | -0.31%            |  |  |  | No            |                  2 | On Loan: No      |
| Kagome Co Ltd                  | Kagome Co Ltd                                  | CUSIP: 000000000<br>LEI: 549300QC5KRGKXSZKO90 | Short            | EC               | CORP              | JP        |      -6300 | NS      | $-146052.25   | -0.37%            |  |  |  | No            |                  2 | On Loan: No      |
| Manchester United Plc          | Manchester United Plc                          | CUSIP: 000000000<br>LEI: 529900GWGZPE83MJOV59 | Short            | EC               | CORP              | GB        |     -10500 | NS      | $-244965.00   | -0.62%            |  |  |  | No            |                  1 | On Loan: No      |
| Goldwin Inc                    | Goldwin Inc                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       2700 | NS      | $195376.84    | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Wingstop Inc                   | Wingstop Inc                                   | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Short            | EC               | CORP              | US        |       -950 | NS      | $-130739.00   | -0.33%            |  |  |  | No            |                  1 | On Loan: No      |
| Eni SpA                        | Eni SpA                                        | CUSIP: 000000000<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | EC               | CORP              | IT        |      14200 | NS      | $201916.45    | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Delta Air Lines Inc            | Delta Air Lines Inc                            | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |       4857 | NS      | $159601.02    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Auction Technology Group PLC   | Auction Technology Group PLC                   | CUSIP: 000000000<br>LEI: 213800U8Q9K2XI3WRE39 | Short            | EC               | CORP              | GB        |     -13033 | NS      | $-118486.97   | -0.30%            |  |  |  | No            |                  1 | On Loan: No      |
| Kroger Co/The                  | Kroger Co/The                                  | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |       4000 | NS      | $178320.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Linamar Corp                   | Linamar Corp                                   | CUSIP: 53278L107<br>LEI: 549300LW6VIYFRMFBU20 | Long             | EC               | CORP              | CA        |       4300 | NS      | $194675.04    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Laboratorios Farmaceuticos Rov | Laboratorios Farmaceuticos Rovi SA             | CUSIP: 000000000<br>LEI: 95980020140005936480 | Long             | EC               | CORP              | ES        |       4200 | NS      | $162326.55    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Antofagasta PLC                | Antofagasta PLC                                | CUSIP: 000000000<br>LEI: 213800MY6QVH4FVLD628 | Short            | EC               | CORP              | CL        |     -10947 | NS      | $-204354.30   | -0.52%            |  |  |  | No            |                  2 | On Loan: No      |
| Cardinal Health Inc            | Cardinal Health Inc                            | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |       2723 | NS      | $209317.01    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Burberry Group PLC             | Burberry Group PLC                             | CUSIP: 000000000<br>LEI: 213800PE1KEFCNFR1R50 | Long             | EC               | CORP              | GB        |       8190 | NS      | $199116.64    | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| ArcBest Corp                   | ArcBest Corp                                   | CUSIP: 03937C105<br>LEI: 5493006S3KBNE8ZS3J23 | Long             | EC               | CORP              | US        |       2100 | NS      | $147084.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                 | S&P Global Inc                                 | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Short            | EC               | CORP              | US        |       -542 | NS      | $-181537.48   | -0.46%            |  |  |  | No            |                  1 | On Loan: No      |
| NetApp Inc                     | NetApp Inc                                     | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |       2620 | NS      | $157357.20    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| UiPath Inc                     | UiPath Inc                                     | CUSIP: 90364P105<br>LEI: 5493000YP61KBELDHT53 | Short            | EC               | CORP              | US        |     -10288 | NS      | $-130760.48   | -0.33%            |  |  |  | No            |                  1 | On Loan: No      |
| Investec PLC                   | Investec PLC                                   | CUSIP: 000000000<br>LEI: 2138007Z3U5GWDN3MY22 | Long             | EC               | CORP              | ZA        |      29681 | NS      | $181447.96    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| ServisFirst Bancshares Inc     | ServisFirst Bancshares Inc                     | CUSIP: 81768T108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -1600 | NS      | $-110256.00   | -0.28%            |  |  |  | No            |                  1 | On Loan: No      |
| Melexis NV                     | Melexis NV                                     | CUSIP: 000000000<br>LEI: 549300QRPSGOJRPUFO80 | Long             | EC               | CORP              | BE        |       2439 | NS      | $212305.15    | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Check Point Software Technolog | Check Point Software Technologies Ltd          | CUSIP: 000000000<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |       1916 | NS      | $241722.56    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                   | Entegris Inc                                   | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Short            | EC               | CORP              | US        |      -1900 | NS      | $-124621.00   | -0.32%            |  |  |  | No            |                  1 | On Loan: No      |
| Fuji Media Holdings Inc        | Fuji Media Holdings Inc                        | CUSIP: 000000000<br>LEI: 353800TG2T8DSPV7H313 | Long             | EC               | CORP              | JP        |      21000 | NS      | $170811.60    | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| TFI International Inc          | TFI International Inc                          | CUSIP: 87241L109<br>LEI: 5493007R9W7KO7SJN678 | Long             | EC               | CORP              | CA        |       1500 | NS      | $150232.64    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Axis Capital Holdings Ltd      | Axis Capital Holdings Ltd                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |       2890 | NS      | $156551.30    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Dell Technologies Inc          | Dell Technologies Inc                          | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |       4317 | NS      | $173629.74    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Akzo Nobel NV                  | Akzo Nobel NV                                  | CUSIP: 000000000<br>LEI: 724500XYIJUGXAA5QD70 | Short            | EC               | CORP              | NL        |      -2200 | NS      | $-147625.66   | -0.37%            |  |  |  | No            |                  2 | On Loan: No      |
| Primary Health Properties PLC  | Primary Health Properties PLC                  | CUSIP: 000000000<br>LEI: 213800Y5CJHXOATK7X11 | Short            | EC               | CORP              | GB        |     -82313 | NS      | $-110232.76   | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| Dillard's Inc                  | Dillard's Inc                                  | CUSIP: 254067101<br>LEI: 529900FGYKMWL6019P91 | Long             | EC               | CORP              | US        |        573 | NS      | $185193.60    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| United Bankshares Inc/WV       | United Bankshares Inc/WV                       | CUSIP: 909907107<br>LEI: 5299005O3BAMJ9Z92V62 | Short            | EC               | CORP              | US        |      -3478 | NS      | $-140824.22   | -0.36%            |  |  |  | No            |                  1 | On Loan: No      |
| Transurban Group               | Transurban Group                               | CUSIP: 000000000<br>LEI: 549300ZR71SUQ4VUTM79 | Short            | EC               | CORP              | AU        |     -16742 | NS      | $-147293.73   | -0.37%            |  |  |  | No            |                  2 | On Loan: No      |
| Wheaton Precious Metals Corp   | Wheaton Precious Metals Corp                   | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Short            | EC               | CORP              | CA        |      -3500 | NS      | $-136742.98   | -0.35%            |  |  |  | No            |                  1 | On Loan: No      |
| Canaccord Genuity Group Inc    | Canaccord Genuity Group Inc                    | CUSIP: 134801109<br>LEI: 5493002DR5KW4JP7YS87 | Long             | EC               | CORP              | CA        |      23600 | NS      | $146236.34    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Infrastrutture Wireless Italia | Infrastrutture Wireless Italiane SpA           | CUSIP: 000000000<br>LEI: 81560066183FE361C071 | Short            | EC               | CORP              | IT        |     -17258 | NS      | $-174102.38   | -0.44%            |  |  |  | No            |                  2 | On Loan: No      |
| Omron Corp                     | Omron Corp                                     | CUSIP: 000000000<br>LEI: 549300ZHW0TR2QZ0NY83 | Short            | EC               | CORP              | JP        |      -2300 | NS      | $-111153.93   | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| Valmet Oyj                     | Valmet Oyj                                     | CUSIP: 000000000<br>LEI: 213800D9O7FUQDH83V62 | Short            | EC               | CORP              | FI        |      -7548 | NS      | $-203755.96   | -0.52%            |  |  |  | No            |                  2 | On Loan: No      |
| Intermediate Capital Group PLC | Intermediate Capital Group PLC                 | CUSIP: 000000000<br>LEI: 549300OGASR5WRKJ8R68 | Long             | EC               | CORP              | GB        |       9900 | NS      | $136691.10    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Cellnex Telecom SA             | Cellnex Telecom SA                             | CUSIP: 000000000<br>LEI: 5493008T4YG3AQUI7P67 | Short            | EC               | CORP              | ES        |      -4716 | NS      | $-156435.63   | -0.40%            |  |  |  | No            |                  2 | On Loan: No      |
| Teradata Corp                  | Teradata Corp                                  | CUSIP: 88076W103<br>LEI: 549300JU9SOUHV4U4R71 | Long             | EC               | CORP              | US        |       4858 | NS      | $163520.28    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyu Corp                     | Tokyu Corp                                     | CUSIP: 000000000<br>LEI: 3538005PGNIBTZYXAE45 | Short            | EC               | CORP              | JP        |     -11400 | NS      | $-143571.37   | -0.36%            |  |  |  | No            |                  2 | On Loan: No      |
| GMO Payment Gateway Inc        | GMO Payment Gateway Inc                        | CUSIP: 000000000<br>LEI: 353800Q6U21E2PM83F86 | Short            | EC               | CORP              | JP        |      -2300 | NS      | $-190207.71   | -0.48%            |  |  |  | No            |                  2 | On Loan: No      |
| Nippon Gas Co Ltd              | Nippon Gas Co Ltd                              | CUSIP: 000000000<br>LEI: 549300N3DC5V2XON9C60 | Long             | EC               | CORP              | JP        |       9100 | NS      | $142408.50    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Resona Holdings Inc            | Resona Holdings Inc                            | CUSIP: 000000000<br>LEI: 52990067JE75XZCYYT81 | Short            | EC               | CORP              | JP        |     -28600 | NS      | $-157083.15   | -0.40%            |  |  |  | No            |                  2 | On Loan: No      |
| Gree Inc                       | Gree Inc                                       | CUSIP: 000000000<br>LEI: 5299003NKP8638R7J253 | Long             | EC               | CORP              | JP        |      20800 | NS      | $109912.48    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Lawson Inc                     | Lawson Inc                                     | CUSIP: 000000000<br>LEI: 529900IWO8XQO92PR233 | Long             | EC               | CORP              | JP        |       3900 | NS      | $149099.13    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Yaskawa Electric Corp          | Yaskawa Electric Corp                          | CUSIP: 000000000<br>LEI: 3538003K39GR98R0CK58 | Short            | EC               | CORP              | JP        |      -3700 | NS      | $-118050.06   | -0.30%            |  |  |  | No            |                  2 | On Loan: No      |
| Makita Corp                    | Makita Corp                                    | CUSIP: 000000000<br>LEI: 529900CDR9E94BCM6294 | Short            | EC               | CORP              | JP        |      -6600 | NS      | $-153748.41   | -0.39%            |  |  |  | No            |                  2 | On Loan: No      |
| Freenet AG                     | Freenet AG                                     | CUSIP: 000000000<br>LEI: 5299003GLDODCVP8DO20 | Long             | EC               | CORP              | DE        |      10063 | NS      | $218812.88    | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| National Grid PLC              | National Grid PLC                              | CUSIP: 000000000<br>LEI: 8R95QZMKZLJX5Q2XR704 | Short            | EC               | CORP              | GB        |     -10400 | NS      | $-124585.32   | -0.32%            |  |  |  | No            |                  2 | On Loan: No      |
| Fujitsu General Ltd            | Fujitsu General Ltd                            | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | JP        |      -6400 | NS      | $-153000.02   | -0.39%            |  |  |  | No            |                  2 | On Loan: No      |
| Blue Owl Capital Inc           | Blue Owl Capital Inc                           | CUSIP: 09581B103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -13395 | NS      | $-141987.00   | -0.36%            |  |  |  | No            |                  1 | On Loan: No      |
| Electric Power Development Co  | Electric Power Development Co Ltd              | CUSIP: 000000000<br>LEI: 549300KMHPUAQI8VEH90 | Long             | EC               | CORP              | JP        |      10000 | NS      | $158818.59    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| J Front Retailing Co Ltd       | J Front Retailing Co Ltd                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      15600 | NS      | $141572.81    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Robert Half International Inc  | Robert Half International Inc                  | CUSIP: 770323103<br>LEI: 529900VPCUY9H3HLIC08 | Long             | EC               | CORP              | US        |       2236 | NS      | $165083.88    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoZone Inc                   | AutoZone Inc                                   | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |         85 | NS      | $209625.30    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Sandvik AB                     | Sandvik AB                                     | CUSIP: 000000000<br>LEI: 5299008ZUAXN43LVZF54 | Short            | EC               | CORP              | SE        |      -8700 | NS      | $-157222.80   | -0.40%            |  |  |  | No            |                  2 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com Inc                                 | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Short            | EC               | CORP              | US        |      -1186 | NS      | $-99624.00    | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| Givaudan SA                    | Givaudan SA                                    | CUSIP: 000000000<br>LEI: 213800SVRMQA1TD91D41 | Short            | EC               | CORP              | CH        |        -53 | NS      | $-162334.09   | -0.41%            |  |  |  | No            |                  2 | On Loan: No      |
| Plus500 Ltd                    | Plus500 Ltd                                    | CUSIP: 000000000<br>LEI: 549300X8NGW9C5OJZU13 | Long             | EC               | CORP              | IL        |       9500 | NS      | $206255.72    | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Klepierre SA                   | Klepierre SA                                   | CUSIP: 000000000<br>LEI: 969500PB4U31KEFHZ621 | Long             | EC               | CORP              | FR        |      10897 | NS      | $251509.58    | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Insulet Corp                   | Insulet Corp                                   | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Short            | EC               | CORP              | US        |       -612 | NS      | $-180166.68   | -0.46%            |  |  |  | No            |                  1 | On Loan: No      |
| Iida Group Holdings Co Ltd     | Iida Group Holdings Co Ltd                     | CUSIP: 000000000<br>LEI: 35380051BV8PV1I4S949 | Short            | EC               | CORP              | JP        |      -8900 | NS      | $-135129.15   | -0.34%            |  |  |  | No            |                  2 | On Loan: No      |
| JMDC Inc                       | JMDC Inc                                       | CUSIP: 000000000<br>LEI: 3538002M2SQV6WJ6MQ67 | Short            | EC               | CORP              | JP        |      -3000 | NS      | $-86056.14    | -0.22%            |  |  |  | No            |                  2 | On Loan: No      |
| British American Tobacco PLC   | British American Tobacco PLC                   | CUSIP: 000000000<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |       3406 | NS      | $134735.07    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| STEQ/PB BARCLAYS BANK COC      | STEQ/PB BARCLAYS BANK COC                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   13371458 | NS      | $13371458.19  | 33.91%            |  |  |  | No            |                  2 | On Loan: No      |
| United Arrows Ltd              | United Arrows Ltd                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       8800 | NS      | $123328.52    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Food & Life Cos Ltd            | Food & Life Cos Ltd                            | CUSIP: 000000000<br>LEI: 529900CWF7GCVZKS5M87 | Short            | EC               | CORP              | JP        |      -7100 | NS      | $-139976.99   | -0.36%            |  |  |  | No            |                  2 | On Loan: No      |
| Whitehaven Coal Ltd            | Whitehaven Coal Ltd                            | CUSIP: 000000000<br>LEI: 529900WCZ4I6ZO3RRP86 | Long             | EC               | CORP              | AU        |      35500 | NS      | $226168.42    | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Ball Corp                      | Ball Corp                                      | CUSIP: 058498106<br>LEI: 0BGI85ALH27ZJP15DY16 | Short            | EC               | CORP              | US        |      -2383 | NS      | $-121866.62   | -0.31%            |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S               | Novo Nordisk A/S                               | CUSIP: 000000000<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |       2076 | NS      | $281953.11    | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Planet Fitness Inc             | Planet Fitness Inc                             | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Short            | EC               | CORP              | US        |      -1550 | NS      | $-122140.00   | -0.31%            |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International Inc       | Baxter International Inc                       | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Short            | EC               | CORP              | US        |      -2400 | NS      | $-122328.00   | -0.31%            |  |  |  | No            |                  1 | On Loan: No      |
| NatWest Group PLC              | NatWest Group PLC                              | CUSIP: 000000000<br>LEI: 2138005O9XJIJN4JPN90 | Long             | EC               | CORP              | GB        |      66286 | NS      | $211401.26    | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Rightmove PLC                  | Rightmove PLC                                  | CUSIP: 000000000<br>LEI: 2138001JXGCFKBXYB828 | Long             | EC               | CORP              | GB        |      29300 | NS      | $181262.70    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Smurfit Kappa Group PLC        | Smurfit Kappa Group PLC                        | CUSIP: 000000000<br>LEI: 635400CPLP8H5ITDVT56 | Short            | EC               | CORP              | IE        |      -3429 | NS      | $-127079.96   | -0.32%            |  |  |  | No            |                  2 | On Loan: No      |
| Auto Trader Group PLC          | Auto Trader Group PLC                          | CUSIP: 000000000<br>LEI: 213800QLK9BZILB1DI86 | Long             | EC               | CORP              | GB        |      32911 | NS      | $204948.47    | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Arthur J Gallagher & Co        | Arthur J Gallagher & Co                        | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Short            | EC               | CORP              | US        |      -1073 | NS      | $-202303.42   | -0.51%            |  |  |  | No            |                  1 | On Loan: No      |
| OKUMA Corp                     | OKUMA Corp                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       3200 | NS      | $113349.92    | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Warehouses De Pauw CVA         | Warehouses De Pauw CVA                         | CUSIP: 000000000<br>LEI: 549300HWDYC5JXC85138 | Short            | EC               | CORP              | BE        |      -4100 | NS      | $-117451.83   | -0.30%            |  |  |  | No            |                  2 | On Loan: No      |
| J Sainsbury PLC                | J Sainsbury PLC                                | CUSIP: 000000000<br>LEI: 213800VGZAAJIKJ9Y484 | Short            | EC               | CORP              | GB        |     -70881 | NS      | $-185907.98   | -0.47%            |  |  |  | No            |                  2 | On Loan: No      |
| TC Energy Corp                 | TC Energy Corp                                 | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Short            | EC               | CORP              | CA        |      -3800 | NS      | $-151494.83   | -0.38%            |  |  |  | No            |                  1 | On Loan: No      |
| Nexi SpA                       | Nexi SpA                                       | CUSIP: 000000000<br>LEI: 5493000P70CQRQG8SN85 | Short            | EC               | CORP              | IT        |     -14514 | NS      | $-114572.65   | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| Balfour Beatty PLC             | Balfour Beatty PLC                             | CUSIP: 000000000<br>LEI: CT4UIJ3TUKGYYHMENQ17 | Long             | EC               | CORP              | GB        |      54800 | NS      | $223661.55    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Indivior PLC                   | Indivior PLC                                   | CUSIP: 000000000<br>LEI: 213800V3NCQTY7IED471 | Long             | EC               | CORP              | GB        |      10350 | NS      | $231616.75    | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Cint Group AB                  | Cint Group AB                                  | CUSIP: 000000000<br>LEI: 549300KSY3P5G8XC0A34 | Short            | EC               | CORP              | SE        |     -22293 | NS      | $-89609.26    | -0.23%            |  |  |  | No            |                  2 | On Loan: No      |
| Russel Metals Inc              | Russel Metals Inc                              | CUSIP: 781903604<br>LEI: 5493005F9VPHFO17OV54 | Long             | EC               | CORP              | CA        |       7000 | NS      | $148788.77    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluidra SA                     | Fluidra SA                                     | CUSIP: 000000000<br>LEI: 95980020140005026620 | Short            | EC               | CORP              | ES        |      -8345 | NS      | $-129756.76   | -0.33%            |  |  |  | No            |                  2 | On Loan: No      |
| Home BancShares Inc/AR         | Home BancShares Inc/AR                         | CUSIP: 436893200<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -5300 | NS      | $-120787.00   | -0.31%            |  |  |  | No            |                  1 | On Loan: No      |
| Ebara Corp                     | Ebara Corp                                     | CUSIP: 000000000<br>LEI: 353800UV8U3SOMCDTI49 | Long             | EC               | CORP              | JP        |       4900 | NS      | $174550.24    | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Redrow PLC                     | Redrow PLC                                     | CUSIP: 000000000<br>LEI: 2138008WJZBBA7EYEL28 | Long             | EC               | CORP              | GB        |      28669 | NS      | $157103.03    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Reply SpA                      | Reply SpA                                      | CUSIP: 000000000<br>LEI: 815600DAEFB0388F3521 | Long             | EC               | CORP              | IT        |       1872 | NS      | $214752.11    | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| McCormick & Co Inc/MD          | McCormick & Co Inc/MD                          | CUSIP: 579780206<br>LEI: 549300JQQA6MQ4OJP259 | Short            | EC               | CORP              | US        |      -1600 | NS      | $-132624.00   | -0.34%            |  |  |  | No            |                  1 | On Loan: No      |
| Prudential PLC                 | Prudential PLC                                 | CUSIP: 000000000<br>LEI: 5493001Z3ZE83NGK8Y12 | Short            | EC               | CORP              | GB        |      -9000 | NS      | $-122717.65   | -0.31%            |  |  |  | No            |                  2 | On Loan: No      |
| Hitachi Ltd                    | Hitachi Ltd                                    | CUSIP: 000000000<br>LEI: 549300T6IPOCDWLKC615 | Short            | EC               | CORP              | JP        |      -3900 | NS      | $-196233.49   | -0.50%            |  |  |  | No            |                  2 | On Loan: No      |
| Kubota Corp                    | Kubota Corp                                    | CUSIP: 000000000<br>LEI: 549300CSY4INHEHQQT13 | Short            | EC               | CORP              | JP        |     -11000 | NS      | $-150275.85   | -0.38%            |  |  |  | No            |                  2 | On Loan: No      |
| ROBLOX Corp                    | ROBLOX Corp                                    | CUSIP: 771049103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -3200 | NS      | $-91072.00    | -0.23%            |  |  |  | No            |                  1 | On Loan: No      |
| USANA Health Sciences Inc      | USANA Health Sciences Inc                      | CUSIP: 90328M107<br>LEI: 549300YTURXE814MAH96 | Long             | EC               | CORP              | US        |       1853 | NS      | $98579.60     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| AVEVA Group PLC                | AVEVA Group PLC                                | CUSIP: 000000000<br>LEI: 213800XHATUM2LFMKG16 | Short            | EC               | CORP              | GB        |      -6092 | NS      | $-235803.36   | -0.60%            |  |  |  | No            |                  2 | On Loan: No      |
| Rolls-Royce Holdings PLC       | Rolls-Royce Holdings PLC                       | CUSIP: 000000000<br>LEI: 213800EC7997ZBLZJH69 | Short            | EC               | CORP              | GB        |    -199046 | NS      | $-222329.51   | -0.56%            |  |  |  | No            |                  2 | On Loan: No      |
| Radian Group Inc               | Radian Group Inc                               | CUSIP: 750236101<br>LEI: 54930005OUP720S5U385 | Long             | EC               | CORP              | US        |       9078 | NS      | $173117.46    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Severn Trent PLC               | Severn Trent PLC                               | CUSIP: 000000000<br>LEI: 213800RPBXRETY4A4C59 | Short            | EC               | CORP              | GB        |      -5607 | NS      | $-179133.25   | -0.45%            |  |  |  | No            |                  2 | On Loan: No      |
| Neoen SA                       | Neoen SA                                       | CUSIP: 000000000<br>LEI: 969500C0AIAGQWZGJO13 | Short            | EC               | CORP              | FR        |      -5259 | NS      | $-212667.61   | -0.54%            |  |  |  | No            |                  2 | On Loan: No      |
| Mitsui & Co Ltd                | Mitsui & Co Ltd                                | CUSIP: 000000000<br>LEI: 2NRSB4GOU9DD6CNW5R48 | Long             | EC               | CORP              | JP        |       7000 | NS      | $203880.09    | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| CVS Health Corp                | CVS Health Corp                                | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |       1588 | NS      | $147985.72    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Worley Ltd                     | Worley Ltd                                     | CUSIP: 000000000<br>LEI: 549300XDR86FY8OLGP97 | Short            | EC               | CORP              | AU        |     -14519 | NS      | $-148100.53   | -0.38%            |  |  |  | No            |                  2 | On Loan: No      |
| Bachem Holding AG              | Bachem Holding AG                              | CUSIP: 000000000<br>LEI: 506700S81111XI7TG884 | Short            | EC               | CORP              | CH        |      -2057 | NS      | $-178486.84   | -0.45%            |  |  |  | No            |                  2 | On Loan: No      |
| Sinclair Broadcast Group Inc   | Sinclair Broadcast Group Inc                   | CUSIP: 829226109<br>LEI: 529900879GWQV880PQ28 | Long             | EC               | CORP              | US        |       9424 | NS      | $146166.24    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG               | Roche Holding AG                               | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |        630 | NS      | $197969.66    | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokyo Gas Co Ltd               | Tokyo Gas Co Ltd                               | CUSIP: 000000000<br>LEI: 353800678EIJLOQSWZ83 | Long             | EC               | CORP              | JP        |       7200 | NS      | $140974.57    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Just Eat Takeaway.com NV       | Just Eat Takeaway.com NV                       | CUSIP: 000000000<br>LEI: 724500FVZIBSSQ7SHI95 | Short            | EC               | CORP              | NL        |      -6500 | NS      | $-138349.45   | -0.35%            |  |  |  | No            |                  2 | On Loan: No      |
| Sherwin-Williams Co/The        | Sherwin-Williams Co/The                        | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Short            | EC               | CORP              | US        |       -616 | NS      | $-146195.28   | -0.37%            |  |  |  | No            |                  1 | On Loan: No      |
| MGIC Investment Corp           | MGIC Investment Corp                           | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |      11011 | NS      | $143143.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa House Residential Invest | Daiwa House REIT Investment Corp               | CUSIP: 000000000<br>LEI: 3538001FWU534P8JMO05 | Short            | EC               | CORP              | JP        |        -63 | NS      | $-140468.51   | -0.36%            |  |  |  | No            |                  2 | On Loan: No      |
| Humana Inc                     | Humana Inc                                     | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |        340 | NS      | $174144.60    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc   | Thermo Fisher Scientific Inc                   | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Short            | EC               | CORP              | US        |       -323 | NS      | $-177872.87   | -0.45%            |  |  |  | No            |                  1 | On Loan: No      |
| Investor AB                    | Investor AB                                    | CUSIP: 000000000<br>LEI: 549300VEBQPHRZBKUX38 | Short            | EC               | CORP              | SE        |      -8700 | NS      | $-157478.33   | -0.40%            |  |  |  | No            |                  2 | On Loan: No      |
| Enbridge Inc                   | Enbridge Inc                                   | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Short            | EC               | CORP              | CA        |      -4500 | NS      | $-175878.88   | -0.45%            |  |  |  | No            |                  1 | On Loan: No      |
| Krones AG                      | Krones AG                                      | CUSIP: 000000000<br>LEI: 529900NY2GSZWWUBW049 | Long             | EC               | CORP              | DE        |       1498 | NS      | $167391.53    | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Money Forward Inc              | Money Forward Inc                              | CUSIP: 000000000<br>LEI: 35380017JS3GIGP6WN95 | Short            | EC               | CORP              | JP        |      -4500 | NS      | $-138991.84   | -0.35%            |  |  |  | No            |                  2 | On Loan: No      |
| Unilever PLC                   | Unilever PLC                                   | CUSIP: 904767704<br>LEI: 549300MKFYEKVRWML317 | Short            | EC               | CORP              | GB        |      -4400 | NS      | $-221540.00   | -0.56%            |  |  |  | No            |                  1 | On Loan: No      |
| Affirm Holdings Inc            | Affirm Holdings Inc                            | CUSIP: 00827B106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -3993 | NS      | $-38612.31    | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Sartorius Stedim Biotech       | Sartorius Stedim Biotech                       | CUSIP: 000000000<br>LEI: 52990006IVXY7GCSSR39 | Short            | EC               | CORP              | FR        |       -370 | NS      | $-120238.20   | -0.30%            |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Estate Co Ltd       | Mitsubishi Estate Co Ltd                       | CUSIP: 000000000<br>LEI: 353800KOFMRGOXSJ5Z65 | Long             | EC               | CORP              | JP        |      10600 | NS      | $137307.92    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Tellurian Inc                  | Tellurian Inc                                  | CUSIP: 87968A104<br>LEI: 254900ZYXZHH5MQG6H78 | Short            | EC               | CORP              | US        |     -38639 | NS      | $-64913.52    | -0.16%            |  |  |  | No            |                  1 | On Loan: No      |
| Viaplay Group AB               | Viaplay Group AB                               | CUSIP: 000000000<br>LEI: 5493006E0IJD0DHJSR89 | Short            | EC               | CORP              | SE        |      -4126 | NS      | $-78762.83    | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| Netcompany Group A/S           | Netcompany Group A/S                           | CUSIP: 000000000<br>LEI: 5299006DEGAWX1Z1X779 | Short            | EC               | CORP              | DK        |      -3201 | NS      | $-136209.99   | -0.35%            |  |  |  | No            |                  2 | On Loan: No      |
| J & J Snack Foods Corp         | J & J Snack Foods Corp                         | CUSIP: 466032109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -933 | NS      | $-139679.43   | -0.35%            |  |  |  | No            |                  1 | On Loan: No      |
| ResMed Inc                     | ResMed Inc                                     | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Short            | EC               | CORP              | US        |       -594 | NS      | $-123629.22   | -0.31%            |  |  |  | No            |                  1 | On Loan: No      |
| L'Oreal SA                     | L'Oreal SA                                     | CUSIP: 000000000<br>LEI: 529900JI1GG6F7RKVI53 | Long             | EC               | CORP              | FR        |        659 | NS      | $235986.42    | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Viasat Inc                     | Viasat Inc                                     | CUSIP: 92552V100<br>LEI: UFC8NYMNFSYIHNSM2I38 | Short            | EC               | CORP              | US        |      -4345 | NS      | $-137519.25   | -0.35%            |  |  |  | No            |                  1 | On Loan: No      |
| AEON REIT Investment Corp      | AEON REIT Investment Corp                      | CUSIP: 000000000<br>LEI: 353800P59F8MJB4FE788 | Short            | EC               | CORP              | JP        |       -118 | NS      | $-138485.96   | -0.35%            |  |  |  | No            |                  2 | On Loan: No      |
| Nippon Paint Holdings Co Ltd   | Nippon Paint Holdings Co Ltd                   | CUSIP: 000000000<br>LEI: 529900RYRJUN78A7PL87 | Short            | EC               | CORP              | JP        |     -24100 | NS      | $-189283.75   | -0.48%            |  |  |  | No            |                  2 | On Loan: No      |
| Reinsurance Group of America I | Reinsurance Group of America Inc               | CUSIP: 759351604<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EC               | CORP              | US        |       1100 | NS      | $156299.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Ally Financial Inc             | Ally Financial Inc                             | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |       5500 | NS      | $134475.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| STEQ/PB BARCLAYS BANK COC      | STEQ/PB BARCLAYS BANK COC                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |    1253221 | NS      | $1355345.95   | 3.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Anheuser-Busch InBev SA/NV     | Anheuser-Busch InBev SA/NV                     | CUSIP: 000000000<br>LEI: 5493008H3828EMEXB082 | Short            | EC               | CORP              | BE        |      -2400 | NS      | $-144554.32   | -0.37%            |  |  |  | No            |                  2 | On Loan: No      |
| Howden Joinery Group PLC       | Howden Joinery Group PLC                       | CUSIP: 000000000<br>LEI: 213800KC1LJOJTY3JP45 | Long             | EC               | CORP              | GB        |      30000 | NS      | $202571.40    | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Boston Beer Co Inc/The         | Boston Beer Co Inc/The                         | CUSIP: 100557107<br>LEI: 529900Q02MQ0DCQNRM58 | Short            | EC               | CORP              | US        |       -514 | NS      | $-169373.28   | -0.43%            |  |  |  | No            |                  1 | On Loan: No      |
| Allied Properties Real Estate  | Allied Properties Real Estate Investment Trust | CUSIP: 019456102<br>LEI: 549300AMZMPKVHA0MY77 | Long             | EC               | CORP              | CA        |       8100 | NS      | $153146.23    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Aker ASA                       | Aker ASA                                       | CUSIP: 000000000<br>LEI: 5967007LIEEXZXJ10071 | Short            | EC               | CORP              | NO        |      -1500 | NS      | $-110155.28   | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| Vivendi SE                     | Vivendi SE                                     | CUSIP: 000000000<br>LEI: 969500FU4DRAEVJW7U54 | Long             | EC               | CORP              | FR        |      26763 | NS      | $255665.42    | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Hisamitsu Pharmaceutical Co In | Hisamitsu Pharmaceutical Co Inc                | CUSIP: 000000000<br>LEI: 5299006QL3IBQ4CN7E12 | Long             | EC               | CORP              | JP        |       7800 | NS      | $231539.84    | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| InterContinental Hotels Group  | InterContinental Hotels Group PLC              | CUSIP: 000000000<br>LEI: 2138007ZFQYRUSLU3J98 | Long             | EC               | CORP              | GB        |       2450 | NS      | $140578.07    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Shin-Etsu Chemical Co Ltd      | Shin-Etsu Chemical Co Ltd                      | CUSIP: 000000000<br>LEI: 353800PX8Q64N86H5W41 | Long             | EC               | CORP              | JP        |       1200 | NS      | $146534.66    | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| The Northern Trust Company     | EUR/USD FORWARD                                | CUSIP: 000000000<br>LEI: 6PTKHDJ8HDUF78PFWH30 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-15709.83    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Suncor Energy Inc              | Suncor Energy Inc                              | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |       5700 | NS      | $180808.71    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomura Research Institute Ltd  | Nomura Research Institute Ltd                  | CUSIP: 000000000<br>LEI: 5299005F1HCVF4M4QN79 | Short            | EC               | CORP              | JP        |      -4600 | NS      | $-109360.13   | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| SKF AB                         | SKF AB                                         | CUSIP: 000000000<br>LEI: 549300B6HWYEE57O8J84 | Short            | EC               | CORP              | SE        |      -9058 | NS      | $-138347.61   | -0.35%            |  |  |  | No            |                  2 | On Loan: No      |
| Domain Holdings Australia Ltd  | Domain Holdings Australia Ltd                  | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | AU        |     -59678 | NS      | $-109164.96   | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| Thule Group AB                 | Thule Group AB                                 | CUSIP: 000000000<br>LEI: 549300XHHOGBOERKU333 | Short            | EC               | CORP              | SE        |      -5565 | NS      | $-116562.09   | -0.30%            |  |  |  | No            |                  2 | On Loan: No      |
| BBVA                           | Banco Bilbao Vizcaya Argentaria SA             | CUSIP: 000000000<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |      34400 | NS      | $207200.46    | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| SKY Perfect JSAT Holdings Inc  | SKY Perfect JSAT Holdings Inc                  | CUSIP: 000000000<br>LEI: 5299009SAF34W9TVEF26 | Long             | EC               | CORP              | JP        |      59400 | NS      | $218294.53    | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Inmode Ltd                     | Inmode Ltd                                     | CUSIP: 000000000<br>LEI: 984500DD95A35E9BD358 | Long             | EC               | CORP              | IL        |       6095 | NS      | $217591.50    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| BML Inc                        | BML Inc                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       4900 | NS      | $124304.34    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Pure Storage Inc               | Pure Storage Inc                               | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |       6698 | NS      | $179238.48    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Societe Generale SA            | Societe Generale SA                            | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | EC               | CORP              | FR        |       7265 | NS      | $182232.80    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco de Sabadell SA           | Banco de Sabadell SA                           | CUSIP: 000000000<br>LEI: SI5RG2M0WQQLZCXKRM20 | Long             | EC               | CORP              | ES        |     237600 | NS      | $223335.51    | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco Treasury Portfolio     | Invesco Treasury Portfolio                     | CUSIP: 825252406<br>LEI: 5493004B3TM8ZIDDDC39 | Long             | STIV             | RF                | US        |    2555211 | NS      | $2555211.08   | 6.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Hankyu Hanshin Holdings Inc    | Hankyu Hanshin Holdings Inc                    | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | JP        |      -6300 | NS      | $-186653.96   | -0.47%            |  |  |  | No            |                  2 | On Loan: No      |
| Toyota Motor Corp              | Toyota Motor Corp                              | CUSIP: 000000000<br>LEI: 5493006W3QUS5LMH6R84 | Short            | EC               | CORP              | JP        |     -11600 | NS      | $-158253.53   | -0.40%            |  |  |  | No            |                  2 | On Loan: No      |
| Raytheon Technologies Corp     | Raytheon Technologies Corp                     | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Short            | EC               | CORP              | US        |      -1300 | NS      | $-131196.00   | -0.33%            |  |  |  | No            |                  1 | On Loan: No      |
| NexGen Energy Ltd              | NexGen Energy Ltd                              | CUSIP: 65340P106<br>LEI: 529900N0IXNXB3IP7F06 | Short            | EC               | CORP              | CA        |     -39300 | NS      | $-173860.41   | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| Black Knight Inc               | Black Knight Inc                               | CUSIP: 09215C105<br>LEI: 549300TUSNXS3BFFML48 | Short            | EC               | CORP              | US        |      -2228 | NS      | $-137579.00   | -0.35%            |  |  |  | No            |                  1 | On Loan: No      |
| Benefit One Inc                | Benefit One Inc                                | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | JP        |      -8600 | NS      | $-125550.68   | -0.32%            |  |  |  | No            |                  2 | On Loan: No      |
| Brookfield Corp                | Brookfield Corp                                | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Short            | EC               | CORP              | CA        |      -4305 | NS      | $-135435.30   | -0.34%            |  |  |  | No            |                  1 | On Loan: No      |
| On Holding AG                  | On Holding AG                                  | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | CH        |      -7000 | NS      | $-120120.00   | -0.30%            |  |  |  | No            |                  1 | On Loan: No      |
| Zensho Holdings Co Ltd         | Zensho Holdings Co Ltd                         | CUSIP: 000000000<br>LEI: 353800DYF3UDM49ITT03 | Short            | EC               | CORP              | JP        |      -4900 | NS      | $-123069.26   | -0.31%            |  |  |  | No            |                  2 | On Loan: No      |
| American International Group I | American International Group Inc               | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |       3004 | NS      | $189972.96    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokio Marine Holdings Inc      | Tokio Marine Holdings Inc                      | CUSIP: 000000000<br>LEI: 5299009QN2NZ191KLS29 | Short            | EC               | CORP              | JP        |      -7600 | NS      | $-162354.19   | -0.41%            |  |  |  | No            |                  2 | On Loan: No      |
| STEQ/PB BARCLAYS BANK COC      | STEQ/PB BARCLAYS BANK COC                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |    4660153 | NS      | $4988461.29   | 12.65%            |  |  |  | No            |                  2 | On Loan: No      |
| Pearson PLC                    | Pearson PLC                                    | CUSIP: 000000000<br>LEI: 2138004JBXWWJKIURC57 | Long             | EC               | CORP              | GB        |      13596 | NS      | $153523.56    | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group | Mitsubishi UFJ Financial Group Inc             | CUSIP: 606822104<br>LEI: 353800V2V8PUY9TK3E06 | Short            | EC               | CORP              | JP        |     -27300 | NS      | $-182091.00   | -0.46%            |  |  |  | No            |                  1 | On Loan: No      |
| Future PLC                     | Future PLC                                     | CUSIP: 000000000<br>LEI: 213800K2581YRLEXV353 | Short            | EC               | CORP              | GB        |      -8087 | NS      | $-123265.10   | -0.31%            |  |  |  | No            |                  2 | On Loan: No      |
| Molina Healthcare Inc          | Molina Healthcare Inc                          | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |        685 | NS      | $226200.70    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                   | Fortinet Inc                                   | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |       3400 | NS      | $166226.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | USD/JPY FORWARD                                | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-159316.58   | -0.40%            |  |  |  | No            |                  2 | On Loan: No      |
| Take-Two Interactive Software  | Take-Two Interactive Software Inc              | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Short            | EC               | CORP              | US        |      -1428 | NS      | $-148697.64   | -0.38%            |  |  |  | No            |                  1 | On Loan: No      |
| McMillan Shakespeare Ltd       | McMillan Shakespeare Ltd                       | CUSIP: 000000000<br>LEI: 254900GPJQUGWJEAZ102 | Long             | EC               | CORP              | AU        |      14452 | NS      | $132028.74    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Prosperity Bancshares Inc      | Prosperity Bancshares Inc                      | CUSIP: 743606105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -2097 | NS      | $-152409.96   | -0.39%            |  |  |  | No            |                  1 | On Loan: No      |
| Industrivarden AB              | Industrivarden AB                              | CUSIP: 000000000<br>LEI: 549300TM1DLIQI3B3T37 | Short            | EC               | CORP              | SE        |      -7220 | NS      | $-175174.94   | -0.44%            |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Warehouse Co Ltd/The  | Sumitomo Warehouse Co Ltd/The                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      12000 | NS      | $178262.08    | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Subaru Corp                    | Subaru Corp                                    | CUSIP: 000000000<br>LEI: 549300N244BVAEE6HH86 | Long             | EC               | CORP              | JP        |       7700 | NS      | $116578.60    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| IFF                            | International Flavors & Fragrances Inc         | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Short            | EC               | CORP              | US        |      -1545 | NS      | $-161977.80   | -0.41%            |  |  |  | No            |                  1 | On Loan: No      |
| AGL Energy Ltd                 | AGL Energy Ltd                                 | CUSIP: 000000000<br>LEI: 549300QAZ8A74DEDXO80 | Long             | EC               | CORP              | AU        |      41235 | NS      | $225723.98    | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| BHG Group AB                   | BHG Group AB                                   | CUSIP: 000000000<br>LEI: 549300ZLCWL2QTO3HR86 | Short            | EC               | CORP              | SE        |     -16283 | NS      | $-29078.83    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Delivery Hero SE               | Delivery Hero SE                               | CUSIP: 000000000<br>LEI: 529900C3EX1FZGE48X78 | Short            | EC               | CORP              | DE        |      -3300 | NS      | $-158366.21   | -0.40%            |  |  |  | No            |                  2 | On Loan: No      |
| Wizz Air Holdings Plc          | Wizz Air Holdings Plc                          | CUSIP: 000000000<br>LEI: 213800COXGZCORLJZA85 | Short            | EC               | CORP              | CH        |      -4973 | NS      | $-113711.38   | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| Alcoa Corp                     | Alcoa Corp                                     | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |       3179 | NS      | $144549.13    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Masco Corp                     | Masco Corp                                     | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | EC               | CORP              | US        |       3910 | NS      | $182479.70    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Centrica PLC                   | Centrica PLC                                   | CUSIP: 000000000<br>LEI: E26EDV109X6EEPBKVH76 | Long             | EC               | CORP              | GB        |     190700 | NS      | $221795.90    | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| STEQ/PB BARCLAYS BANK COC      | STEQ/PB BARCLAYS BANK COC                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        | 1006041976 | NS      | $7665665.77   | 19.44%            |  |  |  | No            |                  2 | On Loan: No      |
| AptarGroup Inc                 | AptarGroup Inc                                 | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Short            | EC               | CORP              | US        |      -1352 | NS      | $-148692.96   | -0.38%            |  |  |  | No            |                  1 | On Loan: No      |
| CAE Inc                        | CAE Inc                                        | CUSIP: 124765108<br>LEI: 549300FFM2BEH2GF1E44 | Short            | EC               | CORP              | CA        |      -6600 | NS      | $-127661.74   | -0.32%            |  |  |  | No            |                  1 | On Loan: No      |
| STEQ/PB BARCLAYS BANK COC      | STEQ/PB BARCLAYS BANK COC                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SE        |   15377005 | NS      | $1473620.17   | 3.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Asahi Intecc Co Ltd            | Asahi Intecc Co Ltd                            | CUSIP: 000000000<br>LEI: 353800J3AV2SCNIO8L39 | Short            | EC               | CORP              | JP        |     -11800 | NS      | $-192484.82   | -0.49%            |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Telekom AG            | Deutsche Telekom AG                            | CUSIP: 000000000<br>LEI: 549300V9QSIG4WX4GJ96 | Short            | EC               | CORP              | DE        |      -9209 | NS      | $-183227.67   | -0.46%            |  |  |  | No            |                  2 | On Loan: No      |
| Atco Ltd/Canada                | Atco Ltd/Canada                                | CUSIP: 046789400<br>LEI: 5299005SPZ1QYL51JD25 | Long             | EC               | CORP              | CA        |       5600 | NS      | $175279.17    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexagon AB                     | Hexagon AB                                     | CUSIP: 000000000<br>LEI: 549300WJFW6ILNI4TA80 | Short            | EC               | CORP              | SE        |     -15262 | NS      | $-160023.48   | -0.41%            |  |  |  | No            |                  2 | On Loan: No      |
| Trainline PLC                  | Trainline PLC                                  | CUSIP: 000000000<br>LEI: 213800HO26VXTFJ4MO71 | Long             | EC               | CORP              | GB        |      36888 | NS      | $122459.92    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| STEQ/PB BARCLAYS BANK COC      | STEQ/PB BARCLAYS BANK COC                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | DK        |    4652115 | NS      | $669677.38    | 1.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Storskogen Group AB            | Storskogen Group AB                            | CUSIP: 000000000<br>LEI: 549300DL3K4HLJ41KD24 | Short            | EC               | CORP              | SE        |    -138904 | NS      | $-99516.80    | -0.25%            |  |  |  | No            |                  2 | On Loan: No      |
| GFL Environmental Inc          | GFL Environmental Inc                          | CUSIP: 36168Q104<br>LEI: 549300FYK4MBXWIVZU26 | Short            | EC               | CORP              | CA        |      -6500 | NS      | $-189815.36   | -0.48%            |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke KPN NV             | Koninklijke KPN NV                             | CUSIP: 000000000<br>LEI: 549300YO0JZHAL7FVP81 | Long             | EC               | CORP              | NL        |      52000 | NS      | $160953.34    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Jackson Financial Inc          | Jackson Financial Inc                          | CUSIP: 46817M107<br>LEI: 213800WXW2KG1N4CO374 | Long             | EC               | CORP              | US        |       5434 | NS      | $189048.86    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Industria de Diseno Textil SA  | Industria de Diseno Textil SA                  | CUSIP: 000000000<br>LEI: 549300TTCXZOGZM2EY83 | Long             | EC               | CORP              | ES        |       6458 | NS      | $171531.26    | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Penumbra Inc                   | Penumbra Inc                                   | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Short            | EC               | CORP              | US        |       -571 | NS      | $-127024.66   | -0.32%            |  |  |  | No            |                  1 | On Loan: No      |
| Comerica Inc                   | Comerica Inc                                   | CUSIP: 200340107<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | EC               | CORP              | US        |       2236 | NS      | $149476.60    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Churchill Downs Inc            | Churchill Downs Inc                            | CUSIP: 171484108<br>LEI: 529900FODTBQC8MIS994 | Short            | EC               | CORP              | US        |       -560 | NS      | $-118400.80   | -0.30%            |  |  |  | No            |                  1 | On Loan: No      |
| Wolters Kluwer NV              | Wolters Kluwer NV                              | CUSIP: 000000000<br>LEI: 724500TEM53I0U077B74 | Long             | EC               | CORP              | NL        |       2000 | NS      | $209270.63    | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Reynolds Consumer Products Inc | Reynolds Consumer Products Inc                 | CUSIP: 76171L106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -4200 | NS      | $-125916.00   | -0.32%            |  |  |  | No            |                  1 | On Loan: No      |
| Zions Bancorp NA               | Zions Bancorp NA                               | CUSIP: 989701107<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | EC               | CORP              | US        |       2326 | NS      | $114346.16    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| SCOR SE                        | SCOR SE                                        | CUSIP: 000000000<br>LEI: 96950056ULJ4JI7V3752 | Long             | EC               | CORP              | FR        |      10613 | NS      | $244537.08    | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Moody's Corp                   | Moody's Corp                                   | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Short            | EC               | CORP              | US        |       -579 | NS      | $-161320.98   | -0.41%            |  |  |  | No            |                  1 | On Loan: No      |
| Clarivate PLC                  | Clarivate PLC                                  | CUSIP: 000000000<br>LEI: 549300WDHIIODXFO0R55 | Short            | EC               | CORP              | GB        |     -11775 | NS      | $-98203.50    | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| Alten SA                       | Alten SA                                       | CUSIP: 000000000<br>LEI: 969500Y7G9TY7Y24GN07 | Long             | EC               | CORP              | FR        |       1271 | NS      | $159241.58    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Inpex Corp                     | Inpex Corp                                     | CUSIP: 000000000<br>LEI: 353800VHYYADPR6MXQ47 | Long             | EC               | CORP              | JP        |      14000 | NS      | $150435.90    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Ambu A/S                       | Ambu A/S                                       | CUSIP: 000000000<br>LEI: 5299008W2A69WX355710 | Short            | EC               | CORP              | DK        |      -8800 | NS      | $-113014.81   | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| Evraz PLC                      | Evraz PLC                                      | CUSIP: 000000000<br>LEI: 5493005B7DAN39RXLK23 | Long             | EC               | CORP              | GB        |      66007 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Kuehne + Nagel International A | Kuehne + Nagel International AG                | CUSIP: 000000000<br>LEI: 529900Q0YED3805QXQ66 | Long             | EC               | CORP              | CH        |        800 | NS      | $185986.20    | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Kellogg Co                     | Kellogg Co                                     | CUSIP: 487836108<br>LEI: LONOZNOJYIBXOHXWDB86 | Long             | EC               | CORP              | US        |       2269 | NS      | $161643.56    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp-Liberty For | Liberty Media Corp-Liberty Formula One         | CUSIP: 531229854<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -2057 | NS      | $-122967.46   | -0.31%            |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                | AstraZeneca PLC                                | CUSIP: 000000000<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Short            | EC               | CORP              | GB        |       -957 | NS      | $-129500.65   | -0.33%            |  |  |  | No            |                  2 | On Loan: No      |
| Alcon Inc                      | Alcon Inc                                      | CUSIP: 000000000<br>LEI: 549300LDT5AP8S0NBM78 | Short            | EC               | CORP              | CH        |      -2857 | NS      | $-196044.39   | -0.50%            |  |  |  | No            |                  2 | On Loan: No      |
| ConvaTec Group PLC             | ConvaTec Group PLC                             | CUSIP: 000000000<br>LEI: 213800LS272L4FIDOH92 | Short            | EC               | CORP              | GB        |     -58200 | NS      | $-162998.95   | -0.41%            |  |  |  | No            |                  2 | On Loan: No      |
| Morinaga Milk Industry Co Ltd  | Morinaga Milk Industry Co Ltd                  | CUSIP: 000000000<br>LEI: 529900FB91P7MVO08949 | Long             | EC               | CORP              | JP        |       4300 | NS      | $163282.67    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| K+S AG                         | K+S AG                                         | CUSIP: 000000000<br>LEI: 529900YURAYD4IJX2J91 | Long             | EC               | CORP              | DE        |      11805 | NS      | $232722.72    | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Gas Chemical Co Inc | Mitsubishi Gas Chemical Co Inc                 | CUSIP: 000000000<br>LEI: 529900G5O4J27ZPLJJ89 | Long             | EC               | CORP              | JP        |      11000 | NS      | $151212.24    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| First BanCorp/Puerto Rico      | First BanCorp/Puerto Rico                      | CUSIP: 318672706<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |      10443 | NS      | $132834.96    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Parkland Corp                  | Parkland Corp                                  | CUSIP: 70137W108<br>LEI: 549300UY5C6HUV0XLS53 | Short            | EC               | CORP              | CA        |      -7500 | NS      | $-164567.95   | -0.42%            |  |  |  | No            |                  1 | On Loan: No      |
| Paysafe Ltd                    | Paysafe Ltd                                    | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | GB        |      -6888 | NS      | $-95675.48    | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| SNC-Lavalin Group Inc          | SNC-Lavalin Group Inc                          | CUSIP: 78460T105<br>LEI: UL01OYG5OMLM5G6CFM03 | Short            | EC               | CORP              | CA        |      -9000 | NS      | $-158596.75   | -0.40%            |  |  |  | No            |                  1 | On Loan: No      |
| Tradeweb Markets Inc           | Tradeweb Markets Inc                           | CUSIP: 892672106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -2383 | NS      | $-154728.19   | -0.39%            |  |  |  | No            |                  1 | On Loan: No      |
| Horiba Ltd                     | Horiba Ltd                                     | CUSIP: 000000000<br>LEI: 529900OOTWPYSNW0EC84 | Long             | EC               | CORP              | JP        |       3500 | NS      | $151734.75    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Freshpet Inc                   | Freshpet Inc                                   | CUSIP: 358039105<br>LEI: 549300S4ZK8ZQ6HNPN59 | Short            | EC               | CORP              | US        |      -2190 | NS      | $-115566.30   | -0.29%            |  |  |  | No            |                  1 | On Loan: No      |
| Nagawa Co Ltd                  | Nagawa Co Ltd                                  | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | JP        |      -1400 | NS      | $-79416.84    | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| Kemper Corp                    | Kemper Corp                                    | CUSIP: 488401100<br>LEI: 549300FNI1JKTRY2PV09 | Short            | EC               | CORP              | US        |      -2858 | NS      | $-140613.60   | -0.36%            |  |  |  | No            |                  1 | On Loan: No      |
| DoubleVerify Holdings Inc      | DoubleVerify Holdings Inc                      | CUSIP: 25862V105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -5000 | NS      | $-109800.00   | -0.28%            |  |  |  | No            |                  1 | On Loan: No      |
| Tecan Group AG                 | Tecan Group AG                                 | CUSIP: 000000000<br>LEI: 529900CSN9R3BLETSL26 | Short            | EC               | CORP              | CH        |       -388 | NS      | $-173684.79   | -0.44%            |  |  |  | No            |                  2 | On Loan: No      |
| Mercari Inc                    | Mercari Inc                                    | CUSIP: 000000000<br>LEI: 3538009SK4V5AXSTUJ26 | Short            | EC               | CORP              | JP        |      -7800 | NS      | $-158644.66   | -0.40%            |  |  |  | No            |                  2 | On Loan: No      |
| Ares Management Corp           | Ares Management Corp                           | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Short            | EC               | CORP              | US        |      -1770 | NS      | $-121138.80   | -0.31%            |  |  |  | No            |                  1 | On Loan: No      |
| Entain PLC                     | Entain PLC                                     | CUSIP: 000000000<br>LEI: 213800GNI3K45LQR8L28 | Short            | EC               | CORP              | GB        |      -6500 | NS      | $-103512.95   | -0.26%            |  |  |  | No            |                  2 | On Loan: No      |
| Lowe's Cos Inc                 | Lowe's Cos Inc                                 | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |        989 | NS      | $197048.36    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Communications Inc      | Rogers Communications Inc                      | CUSIP: 775109200<br>LEI: 54930030NVF3Y2OL0A78 | Short            | EC               | CORP              | CA        |      -3100 | NS      | $-145086.41   | -0.37%            |  |  |  | No            |                  1 | On Loan: No      |
| Enviva Inc                     | Enviva Inc                                     | CUSIP: 29415B103<br>LEI: 549300WH5VXDEFM5KR81 | Short            | EC               | CORP              | US        |      -1739 | NS      | $-92114.83    | -0.23%            |  |  |  | No            |                  1 | On Loan: No      |
| Wesfarmers Ltd                 | Wesfarmers Ltd                                 | CUSIP: 000000000<br>LEI: 5493003L32ZX9557ST85 | Short            | EC               | CORP              | AU        |      -4345 | NS      | $-135508.83   | -0.34%            |  |  |  | No            |                  2 | On Loan: No      |
| Kawasaki Kisen Kaisha Ltd      | Kawasaki Kisen Kaisha Ltd                      | CUSIP: 000000000<br>LEI: 353800FL04R73DS5P870 | Long             | EC               | CORP              | JP        |      10400 | NS      | $220231.59    | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Pandora A/S                    | Pandora A/S                                    | CUSIP: 000000000<br>LEI: 5299007OWYZ6I1E46843 | Long             | EC               | CORP              | DK        |       3046 | NS      | $215295.83    | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Kinetik Holdings Inc           | Kinetik Holdings Inc                           | CUSIP: 02215L209<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -3772 | NS      | $-124777.76   | -0.32%            |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp            | American Tower Corp                            | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Short            | EC               | CORP              | US        |       -822 | NS      | $-174148.92   | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Pacific Railway Ltd   | Canadian Pacific Railway Ltd                   | CUSIP: 13645T100<br>LEI: N/A                  | Short            | EC               | CORP              | CA        |      -2100 | NS      | $-156569.42   | -0.40%            |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                         | BP PLC                                         | CUSIP: 000000000<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |      37600 | NS      | $216949.79    | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Host Hotels & Resorts Inc      | Host Hotels & Resorts Inc                      | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |      11464 | NS      | $183997.20    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ's Wholesale Club Holdings I | BJ's Wholesale Club Holdings Inc               | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |       3294 | NS      | $217931.04    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Unicharm Corp                  | Unicharm Corp                                  | CUSIP: 000000000<br>LEI: 353800UQ4BZIJTAQEG85 | Short            | EC               | CORP              | JP        |      -3900 | NS      | $-149316.30   | -0.38%            |  |  |  | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC       | Lloyds Banking Group PLC                       | CUSIP: 000000000<br>LEI: 549300PPXHEU2JF0AM85 | Long             | EC               | CORP              | GB        |     223031 | NS      | $121711.14    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Smiths Group PLC               | Smiths Group PLC                               | CUSIP: 000000000<br>LEI: 213800MJL6IPZS3ASA11 | Long             | EC               | CORP              | GB        |      10897 | NS      | $209136.03    | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Hudbay Minerals Inc            | Hudbay Minerals Inc                            | CUSIP: 443628102<br>LEI: 549300WI524AL577IX21 | Long             | EC               | CORP              | CA        |      33400 | NS      | $168726.74    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| AP Moller - Maersk A/S         | AP Moller - Maersk A/S                         | CUSIP: 000000000<br>LEI: 549300D2K6PKKKXVNN73 | Long             | EC               | CORP              | DK        |         68 | NS      | $152225.14    | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding NV                | ASML Holding NV                                | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |        369 | NS      | $201198.03    | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Qantas Airways Ltd             | Qantas Airways Ltd                             | CUSIP: 000000000<br>LEI: YLXNW6TI6QSK1H8H0N82 | Long             | EC               | CORP              | AU        |      50800 | NS      | $205623.73    | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Inchcape PLC                   | Inchcape PLC                                   | CUSIP: 000000000<br>LEI: 213800RGEH1MPPNM2T57 | Long             | EC               | CORP              | GB        |      18047 | NS      | $178183.16    | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Nordex SE                      | Nordex SE                                      | CUSIP: 000000000<br>LEI: 529900HVDYCUWVD0OE76 | Short            | EC               | CORP              | DE        |     -14062 | NS      | $-197909.08   | -0.50%            |  |  |  | No            |                  2 | On Loan: No      |
| Haleon PLC                     | Haleon PLC                                     | CUSIP: 000000000<br>LEI: 549300PSB3WWEODCUP19 | Short            | EC               | CORP              | GB        |     -35000 | NS      | $-138481.58   | -0.35%            |  |  |  | No            |                  2 | On Loan: No      |
| Realty Income Corp             | Realty Income Corp                             | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Short            | EC               | CORP              | US        |      -2704 | NS      | $-171514.72   | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| Premium Brands Holdings Corp   | Premium Brands Holdings Corp                   | CUSIP: 74061A108<br>LEI: 529900F5EXPGUY8WV366 | Short            | EC               | CORP              | CA        |      -1600 | NS      | $-97228.95    | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien Ltd                    | Nutrien Ltd                                    | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |       2500 | NS      | $182514.77    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Acom Co Ltd                    | Acom Co Ltd                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      67200 | NS      | $160823.89    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Amada Co Ltd                   | Amada Co Ltd                                   | CUSIP: 000000000<br>LEI: 529900QF5O6TQGCPDX85 | Long             | EC               | CORP              | JP        |      24600 | NS      | $191568.87    | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Guardant Health Inc            | Guardant Health Inc                            | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Short            | EC               | CORP              | US        |      -3220 | NS      | $-87584.00    | -0.22%            |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                       | AT&T Inc                                       | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |       7500 | NS      | $138075.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Mosaic Co/The                  | Mosaic Co/The                                  | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |       4100 | NS      | $179867.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| SCREEN Holdings Co Ltd         | SCREEN Holdings Co Ltd                         | CUSIP: 000000000<br>LEI: 353800ND89FTQ9XQ0R07 | Long             | EC               | CORP              | JP        |       2300 | NS      | $146665.02    | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| ARB Corp Ltd                   | ARB Corp Ltd                                   | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | AU        |      -5259 | NS      | $-91271.63    | -0.23%            |  |  |  | No            |                  2 | On Loan: No      |
| Kuraray Co Ltd                 | Kuraray Co Ltd                                 | CUSIP: 000000000<br>LEI: 549300W9JPTOE739QZ31 | Long             | EC               | CORP              | JP        |      22600 | NS      | $180879.65    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| DECKERS OUTDOOR CORP           | DECKERS OUTDOOR CORP                           | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |        330 | NS      | $131722.80    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| APA Group                      | APA Group                                      | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | AU        |     -24008 | NS      | $-175484.21   | -0.45%            |  |  |  | No            |                  2 | On Loan: No      |
| Marubeni Corp                  | Marubeni Corp                                  | CUSIP: 000000000<br>LEI: 4P4N3ORD02UGQT1T1W12 | Long             | EC               | CORP              | JP        |      13800 | NS      | $158092.09    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Stryker Corp                   | Stryker Corp                                   | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Short            | EC               | CORP              | US        |       -800 | NS      | $-195592.00   | -0.50%            |  |  |  | No            |                  1 | On Loan: No      |
| Loblaw Cos Ltd                 | Loblaw Cos Ltd                                 | CUSIP: 539481101<br>LEI: 5493008LN3O1DIDTSH67 | Long             | EC               | CORP              | CA        |       2300 | NS      | $203364.84    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| THG PLC                        | THG PLC                                        | CUSIP: 000000000<br>LEI: 21380066N3SV9O8IDP37 | Short            | EC               | CORP              | GB        |    -195804 | NS      | $-104636.60   | -0.27%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of Kyoto Ltd/The          | Bank of Kyoto Ltd/The                          | CUSIP: 000000000<br>LEI: 549300LRPVT8N6FNFC04 | Short            | EC               | CORP              | JP        |      -5000 | NS      | $-221805.84   | -0.56%            |  |  |  | No            |                  2 | On Loan: No      |
| Topcon Corp                    | Topcon Corp                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      10200 | NS      | $117524.08    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Fuji Kyuko Co Ltd              | Fuji Kyuko Co Ltd                              | CUSIP: 000000000<br>LEI: 3538009MO4NURA3M7859 | Short            | EC               | CORP              | JP        |      -5200 | NS      | $-188051.83   | -0.48%            |  |  |  | No            |                  2 | On Loan: No      |
| Rakuten Group Inc              | Rakuten Group Inc                              | CUSIP: 000000000<br>LEI: 529900IMXUCQKUL1H943 | Short            | EC               | CORP              | JP        |     -23000 | NS      | $-103662.66   | -0.26%            |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Logistics Corp      | Mitsubishi Logistics Corp                      | CUSIP: 000000000<br>LEI: 529900GJKGNRLQBJUH32 | Long             | EC               | CORP              | JP        |       5100 | NS      | $116975.17    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Yara International ASA         | Yara International ASA                         | CUSIP: 000000000<br>LEI: 213800WKOUWXWFJ5Z514 | Long             | EC               | CORP              | NO        |       4497 | NS      | $197494.66    | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Bentley Systems Inc            | Bentley Systems Inc                            | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Short            | EC               | CORP              | US        |      -3712 | NS      | $-137195.52   | -0.35%            |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co          | Southwest Airlines Co                          | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |       3965 | NS      | $133501.55    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                     | Unum Group                                     | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |       4156 | NS      | $170520.68    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| ITV PLC                        | ITV PLC                                        | CUSIP: 000000000<br>LEI: ZLECI7ED2QMWFGYCXZ59 | Short            | EC               | CORP              | GB        |    -179947 | NS      | $-162738.15   | -0.41%            |  |  |  | No            |                  2 | On Loan: No      |
| Alimentation Couche-Tard Inc   | Alimentation Couche-Tard Inc                   | CUSIP: 01626P148<br>LEI: 549300OSW32RVX8CCZ87 | Long             | EC               | CORP              | CA        |       3000 | NS      | $131831.61    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Orange SA                      | Orange SA                                      | CUSIP: 000000000<br>LEI: 969500MCOONR8990S771 | Long             | EC               | CORP              | FR        |      18520 | NS      | $183757.70    | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| CF Industries Holdings Inc     | CF Industries Holdings Inc                     | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |       2000 | NS      | $170400.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank, National Association | CAD/USD FORWARD                                | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-3514.17     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| EPR Properties                 | EPR Properties                                 | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |       4087 | NS      | $154161.64    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of New York Mellon Corp/T | Bank of New York Mellon Corp/The               | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |       3121 | NS      | $142067.92    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/The        | Charles Schwab Corp/The                        | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Short            | EC               | CORP              | US        |      -2228 | NS      | $-185503.28   | -0.47%            |  |  |  | No            |                  1 | On Loan: No      |
| Tryg A/S                       | Tryg A/S                                       | CUSIP: 000000000<br>LEI: 213800ZRS8AC4LSTCE39 | Short            | EC               | CORP              | DK        |      -9135 | NS      | $-217098.40   | -0.55%            |  |  |  | No            |                  2 | On Loan: No      |
| STEQ/PB BARCLAYS BANK COC      | STEQ/PB BARCLAYS BANK COC                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |    3082368 | NS      | $3726428.50   | 9.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Iwatani Corp                   | Iwatani Corp                                   | CUSIP: 000000000<br>LEI: 353800TSKIDNENNV2L96 | Short            | EC               | CORP              | JP        |      -3400 | NS      | $-148908.44   | -0.38%            |  |  |  | No            |                  2 | On Loan: No      |
| NRG Energy Inc                 | NRG Energy Inc                                 | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |       4300 | NS      | $136826.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Allfunds Group Plc             | Allfunds Group Plc                             | CUSIP: 000000000<br>LEI: 9598005U8TZQ8Q64SC71 | Short            | EC               | CORP              | GB        |     -19549 | NS      | $-137092.09   | -0.35%            |  |  |  | No            |                  2 | On Loan: No      |
| Telecom Italia SpA/Milano      | Telecom Italia SpA/Milano                      | CUSIP: 000000000<br>LEI: 549300W384M3RI3VXU42 | Short            | EC               | CORP              | IT        |    -760167 | NS      | $-176170.55   | -0.45%            |  |  |  | No            |                  2 | On Loan: No      |
| SIG Group AG                   | SIG Group AG                                   | CUSIP: 000000000<br>LEI: 5493004Z6P7TSVB1L042 | Short            | EC               | CORP              | CH        |      -6470 | NS      | $-141377.10   | -0.36%            |  |  |  | No            |                  2 | On Loan: No      |
| Secom Co Ltd                   | Secom Co Ltd                                   | CUSIP: 000000000<br>LEI: 529900TYCL9N3E9PGE47 | Short            | EC               | CORP              | JP        |      -2000 | NS      | $-114115.69   | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| Dominion Energy Inc            | Dominion Energy Inc                            | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Short            | EC               | CORP              | US        |      -2125 | NS      | $-130305.00   | -0.33%            |  |  |  | No            |                  1 | On Loan: No      |
| Dun & Bradstreet Holdings Inc  | Dun & Bradstreet Holdings Inc                  | CUSIP: 26484T106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -13588 | NS      | $-166588.88   | -0.42%            |  |  |  | No            |                  1 | On Loan: No      |
| Flutter Entertainment PLC      | Flutter Entertainment PLC                      | CUSIP: 000000000<br>LEI: 635400EG4YIJLJMZJ782 | Short            | EC               | CORP              | IE        |      -1200 | NS      | $-164437.68   | -0.42%            |  |  |  | No            |                  2 | On Loan: No      |
| Waters Corp                    | Waters Corp                                    | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               | CORP              | US        |        638 | NS      | $218566.04    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Hermes International           | Hermes International                           | CUSIP: 000000000<br>LEI: 969500Y4IJGHJE2MTJ13 | Long             | EC               | CORP              | FR        |        140 | NS      | $216699.36    | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Garmin Ltd                     | Garmin Ltd                                     | CUSIP: 000000000<br>LEI: 2549001E0HIPIJQ0W046 | Short            | EC               | CORP              | CH        |      -1485 | NS      | $-137050.65   | -0.35%            |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc               | Crown Castle Inc                               | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Short            | EC               | CORP              | US        |      -1094 | NS      | $-148390.16   | -0.38%            |  |  |  | No            |                  1 | On Loan: No      |
| Bombardier Inc                 | Bombardier Inc                                 | CUSIP: 097751861<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | EC               | CORP              | CA        |       6120 | NS      | $236257.31    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyo Seikan Group Holdings Ltd | Toyo Seikan Group Holdings Ltd                 | CUSIP: 000000000<br>LEI: 5299004VWXGQPXR05T33 | Long             | EC               | CORP              | JP        |      11900 | NS      | $146005.59    | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| JSR Corp                       | JSR Corp                                       | CUSIP: 000000000<br>LEI: 353800TL8FC0AWR22506 | Short            | EC               | CORP              | JP        |      -5300 | NS      | $-103780.72   | -0.26%            |  |  |  | No            |                  2 | On Loan: No      |
| Ceridian HCM Holding Inc       | Ceridian HCM Holding Inc                       | CUSIP: 15677J108<br>LEI: 549300T64GVCHFJ8L449 | Short            | EC               | CORP              | US        |      -2857 | NS      | $-183276.55   | -0.46%            |  |  |  | No            |                  1 | On Loan: No      |
| South32 Ltd                    | South32 Ltd                                    | CUSIP: 000000000<br>LEI: 213800LAZNPXSBKVHR17 | Long             | EC               | CORP              | AU        |      74225 | NS      | $203497.42    | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Holcim AG                      | Holcim AG                                      | CUSIP: 000000000<br>LEI: 529900EHPFPYHV6IQO98 | Short            | EC               | CORP              | CH        |      -3200 | NS      | $-165642.53   | -0.42%            |  |  |  | No            |                  2 | On Loan: No      |
| John Wood Group PLC            | John Wood Group PLC                            | CUSIP: 000000000<br>LEI: 549300PLYY6I10B6S323 | Short            | EC               | CORP              | GB        |     -76598 | NS      | $-124135.64   | -0.31%            |  |  |  | No            |                  2 | On Loan: No      |
| Shinsei Bank Ltd               | Shinsei Bank Ltd                               | CUSIP: 000000000<br>LEI: 549300PZYOQ2NW83V760 | Short            | EC               | CORP              | JP        |     -10300 | NS      | $-167358.32   | -0.42%            |  |  |  | No            |                  2 | On Loan: No      |
| Auckland International Airport | Auckland International Airport Ltd             | CUSIP: 000000000<br>LEI: 549300HFZIZDJWB7AK60 | Short            | EC               | CORP              | NZ        |     -35418 | NS      | $-175658.78   | -0.45%            |  |  |  | No            |                  2 | On Loan: No      |
| Kesko Oyj                      | Kesko Oyj                                      | CUSIP: 000000000<br>LEI: 743700OX6HSVMCAHPB95 | Long             | EC               | CORP              | FI        |       5371 | NS      | $118678.70    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| AmerisourceBergen Corp         | AmerisourceBergen Corp                         | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |        900 | NS      | $149139.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyson Foods Inc                | Tyson Foods Inc                                | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |       1815 | NS      | $112983.75    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| F5 Inc                         | F5 Inc                                         | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |        878 | NS      | $126001.78    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| GEA Group AG                   | GEA Group AG                                   | CUSIP: 000000000<br>LEI: 549300PHUU0ZZWO8EO07 | Long             | EC               | CORP              | DE        |       4015 | NS      | $163280.24    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| STEQ/PB BARCLAYS BANK COC      | STEQ/PB BARCLAYS BANK COC                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | NZ        |     283134 | NS      | $179761.80    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Vestas Wind Systems A/S        | Vestas Wind Systems A/S                        | CUSIP: 000000000<br>LEI: 549300DYMC8BGZZC8844 | Short            | EC               | CORP              | DK        |      -7726 | NS      | $-225372.54   | -0.57%            |  |  |  | No            |                  2 | On Loan: No      |
| Aviva PLC                      | Aviva PLC                                      | CUSIP: 000000000<br>LEI: YF0Y5B0IB8SM0ZFG9G81 | Long             | EC               | CORP              | GB        |      32007 | NS      | $169785.78    | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Alfresa Holdings Corp          | Alfresa Holdings Corp                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      14400 | NS      | $183042.69    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| GLP J-Reit                     | GLP J-Reit                                     | CUSIP: 000000000<br>LEI: 353800E27V9KA51K2I90 | Short            | EC               | CORP              | JP        |       -136 | NS      | $-156628.22   | -0.40%            |  |  |  | No            |                  2 | On Loan: No      |
| Forbo Holding AG               | Forbo Holding AG                               | CUSIP: 000000000<br>LEI: 506700HR073894C16243 | Long             | EC               | CORP              | CH        |        140 | NS      | $164522.81    | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Chemours Co/The                | Chemours Co/The                                | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Long             | EC               | CORP              | US        |       5740 | NS      | $175758.80    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI Inc                       | MSCI Inc                                       | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Short            | EC               | CORP              | US        |       -359 | NS      | $-166996.03   | -0.42%            |  |  |  | No            |                  1 | On Loan: No      |
| Quaker Chemical Corp           | Quaker Chemical Corp                           | CUSIP: 747316107<br>LEI: 549300PJQ1R3WCWCPS54 | Short            | EC               | CORP              | US        |       -719 | NS      | $-120001.10   | -0.30%            |  |  |  | No            |                  1 | On Loan: No      |
| TransUnion                     | TransUnion                                     | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Short            | EC               | CORP              | US        |      -1885 | NS      | $-106973.75   | -0.27%            |  |  |  | No            |                  1 | On Loan: No      |
| Kakaku.com Inc                 | Kakaku.com Inc                                 | CUSIP: 000000000<br>LEI: 353800KA15Y0DCPWYY65 | Long             | EC               | CORP              | JP        |       6700 | NS      | $107505.90    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Kilroy Realty Corp             | Kilroy Realty Corp                             | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |       4105 | NS      | $158740.35    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Teledyne Technologies Inc      | Teledyne Technologies Inc                      | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Short            | EC               | CORP              | US        |       -300 | NS      | $-119973.00   | -0.30%            |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Shokubai Co Ltd         | Nippon Shokubai Co Ltd                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       3400 | NS      | $135736.49    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Engie SA                       | Engie SA                                       | CUSIP: 000000000<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | EC               | CORP              | FR        |      11351 | NS      | $162388.42    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Lasertec Corp                  | Lasertec Corp                                  | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | JP        |       -900 | NS      | $-146943.63   | -0.37%            |  |  |  | No            |                  2 | On Loan: No      |
| Lennox International Inc       | Lennox International Inc                       | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |        446 | NS      | $106696.58    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Rentokil Initial PLC           | Rentokil Initial PLC                           | CUSIP: 000000000<br>LEI: 549300VN4WV7Z6T14K68 | Short            | EC               | CORP              | GB        |     -19447 | NS      | $-119477.85   | -0.30%            |  |  |  | No            |                  2 | On Loan: No      |
| VMware Inc                     | VMware Inc                                     | CUSIP: 928563402<br>LEI: 549300BUDHS3LRWBE814 | Short            | EC               | CORP              | US        |      -1485 | NS      | $-182298.60   | -0.46%            |  |  |  | No            |                  1 | On Loan: No      |
| Croda International PLC        | Croda International PLC                        | CUSIP: 000000000<br>LEI: 2138004WCNBFJEEOXV26 | Short            | EC               | CORP              | GB        |      -2283 | NS      | $-181677.91   | -0.46%            |  |  |  | No            |                  2 | On Loan: No      |
| George Weston Ltd              | George Weston Ltd                              | CUSIP: 961148509<br>LEI: 549300FAHC3L1QKNT280 | Long             | EC               | CORP              | CA        |       1800 | NS      | $223324.96    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Bayerische Motoren Werke AG    | Bayerische Motoren Werke AG                    | CUSIP: 000000000<br>LEI: YEH5ZCD6E441RHVHD759 | Long             | EC               | CORP              | DE        |       1369 | NS      | $121204.51    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Apple Inc                      | Apple Inc                                      | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |       1085 | NS      | $140974.05    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Unity Software Inc             | Unity Software Inc                             | CUSIP: 91332U101<br>LEI: 549300D1ESJMGNQNG432 | Short            | EC               | CORP              | US        |      -2319 | NS      | $-66300.21    | -0.17%            |  |  |  | No            |                  1 | On Loan: No      |
| Fuyo General Lease Co Ltd      | Fuyo General Lease Co Ltd                      | CUSIP: 000000000<br>LEI: 353800IE82QJT7UQJK58 | Long             | EC               | CORP              | JP        |       2300 | NS      | $149932.99    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Daito Trust Cons               | Daito Trust Construction Co Ltd                | CUSIP: 000000000<br>LEI: 353800QQ4DRI3KXS3038 | Long             | EC               | CORP              | JP        |       2100 | NS      | $215004.05    | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Farfetch Ltd                   | Farfetch Ltd                                   | CUSIP: 30744W107<br>LEI: 549300QFQ74Z0F96NS78 | Short            | EC               | CORP              | GB        |     -17606 | NS      | $-83276.38    | -0.21%            |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab Inc                     | Ecolab Inc                                     | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Short            | EC               | CORP              | US        |      -1223 | NS      | $-178019.88   | -0.45%            |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The                  | Boeing Co/The                                  | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Short            | EC               | CORP              | US        |      -1028 | NS      | $-195823.72   | -0.50%            |  |  |  | No            |                  1 | On Loan: No      |
| Illumina Inc                   | Illumina Inc                                   | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Short            | EC               | CORP              | US        |       -713 | NS      | $-144168.60   | -0.37%            |  |  |  | No            |                  1 | On Loan: No      |
| Mettler-Toledo International I | Mettler-Toledo International Inc               | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |        125 | NS      | $180681.25    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Challenger Ltd                 | Challenger Ltd                                 | CUSIP: 000000000<br>LEI: 529900ACCCAOHJ2V3169 | Short            | EC               | CORP              | AU        |     -30068 | NS      | $-154601.89   | -0.39%            |  |  |  | No            |                  2 | On Loan: No      |
| EssilorLuxottica SA            | EssilorLuxottica SA                            | CUSIP: 000000000<br>LEI: 549300M3VH1A3ER1TB49 | Short            | EC               | CORP              | FR        |      -1287 | NS      | $-232861.04   | -0.59%            |  |  |  | No            |                  2 | On Loan: No      |
| ManpowerGroup Inc              | ManpowerGroup Inc                              | CUSIP: 56418H100<br>LEI: ERO1WSFOSR0JJ6CRQ987 | Long             | EC               | CORP              | US        |       1981 | NS      | $164839.01    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Worldline SA/France            | Worldline SA/France                            | CUSIP: 000000000<br>LEI: 549300CJMQNCA0U4TS33 | Short            | EC               | CORP              | FR        |      -4495 | NS      | $-176035.29   | -0.45%            |  |  |  | No            |                  2 | On Loan: No      |
| Associated Banc-Corp           | Associated Banc-Corp                           | CUSIP: 045487105<br>LEI: 549300N3CIN473IW5094 | Long             | EC               | CORP              | US        |       6244 | NS      | $144173.96    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| RWS Holdings PLC               | RWS Holdings PLC                               | CUSIP: 000000000<br>LEI: 213800YGBGTTSKUVK111 | Short            | EC               | CORP              | GB        |     -33534 | NS      | $-152271.73   | -0.39%            |  |  |  | No            |                  1 | On Loan: No      |
| Splunk Inc                     | Splunk Inc                                     | CUSIP: 848637104<br>LEI: 549300XGDSGBP6UEI867 | Long             | EC               | CORP              | US        |       1588 | NS      | $136710.92    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Cie de Saint-Gobain            | Cie de Saint-Gobain                            | CUSIP: 000000000<br>LEI: NFONVGN05Z0FMN5PEC35 | Long             | EC               | CORP              | FR        |       4200 | NS      | $205467.55    | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| ALD SA                         | ALD SA                                         | CUSIP: 000000000<br>LEI: 969500E7V019H9NP7427 | Short            | EC               | CORP              | FR        |     -10300 | NS      | $-118841.05   | -0.30%            |  |  |  | No            |                  2 | On Loan: No      |
| Washington Federal Inc         | Washington Federal Inc                         | CUSIP: 938824109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       5300 | NS      | $177815.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Sika AG                        | Sika AG                                        | CUSIP: 000000000<br>LEI: 549300R3N69ECGYPU434 | Short            | EC               | CORP              | CH        |       -570 | NS      | $-137029.83   | -0.35%            |  |  |  | No            |                  2 | On Loan: No      |
| BlackRock Inc                  | BlackRock Inc                                  | CUSIP: 09247X101<br>LEI: 549300LRIF3NWCU26A80 | Short            | EC               | CORP              | US        |       -170 | NS      | $-120467.10   | -0.31%            |  |  |  | No            |                  1 | On Loan: No      |
| Daikin Industries Ltd          | Daikin Industries Ltd                          | CUSIP: 000000000<br>LEI: 549300Y7FWSTSHMW5Y57 | Short            | EC               | CORP              | JP        |      -1000 | NS      | $-151713.61   | -0.38%            |  |  |  | No            |                  2 | On Loan: No      |
| BAE Systems PLC                | BAE Systems PLC                                | CUSIP: 000000000<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |      14983 | NS      | $154750.47    | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| ValueCommerce Co Ltd           | ValueCommerce Co Ltd                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       6300 | NS      | $86168.58     | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Penn Entertainment Inc         | Penn Entertainment Inc                         | CUSIP: 707569109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -3559 | NS      | $-105702.30   | -0.27%            |  |  |  | No            |                  1 | On Loan: No      |
| Dexus                          | Dexus                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |      32803 | NS      | $172217.84    | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| SoftBank Group Corp            | SoftBank Group Corp                            | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Short            | EC               | CORP              | JP        |      -4100 | NS      | $-173401.15   | -0.44%            |  |  |  | No            |                  2 | On Loan: No      |
| Shaw Communications Inc        | Shaw Communications Inc                        | CUSIP: 82028K200<br>LEI: 549300SCT0RG6178CI40 | Short            | EC               | CORP              | CA        |      -6700 | NS      | $-193033.23   | -0.49%            |  |  |  | No            |                  1 | On Loan: No      |
| STEQ/PB BARCLAYS BANK COC      | STEQ/PB BARCLAYS BANK COC                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    2591459 | NS      | $1764394.70   | 4.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Hartford Financial Services Gr | Hartford Financial Services Group Inc/The      | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |       2099 | NS      | $159167.17    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryder System Inc               | Ryder System Inc                               | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | EC               | CORP              | US        |       2283 | NS      | $190790.31    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Z Holdings Corp                | Z Holdings Corp                                | CUSIP: 000000000<br>LEI: 52990078MD2OL792YM35 | Short            | EC               | CORP              | JP        |     -47200 | NS      | $-117882.76   | -0.30%            |  |  |  | No            |                  2 | On Loan: No      |
| NEXTDC Ltd                     | NEXTDC Ltd                                     | CUSIP: 000000000<br>LEI: 529900RTERU3X7G3D672 | Short            | EC               | CORP              | AU        |     -26866 | NS      | $-165779.51   | -0.42%            |  |  |  | No            |                  2 | On Loan: No      |
| Aeon Co Ltd                    | Aeon Co Ltd                                    | CUSIP: 000000000<br>LEI: 5299009MXFL34SA71416 | Short            | EC               | CORP              | JP        |     -10100 | NS      | $-213266.46   | -0.54%            |  |  |  | No            |                  2 | On Loan: No      |
| Iluka Resources Ltd            | Iluka Resources Ltd                            | CUSIP: 000000000<br>LEI: 2549009N2Y1F4YNB0955 | Long             | EC               | CORP              | AU        |      27000 | NS      | $173677.53    | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Alstom SA                      | Alstom SA                                      | CUSIP: 000000000<br>LEI: 96950032TUYMW11FB530 | Short            | EC               | CORP              | FR        |      -4575 | NS      | $-111934.83   | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| HealthEquity Inc               | HealthEquity Inc                               | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Short            | EC               | CORP              | US        |      -2817 | NS      | $-173639.88   | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| BRP Group Inc                  | BRP Group Inc                                  | CUSIP: 05589G102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -5088 | NS      | $-127912.32   | -0.32%            |  |  |  | No            |                  1 | On Loan: No      |
| Nokia Oyj                      | Nokia Oyj                                      | CUSIP: 654902204<br>LEI: 549300A0JPRWG1KI7U06 | Long             | EC               | CORP              | FI        |      40160 | NS      | $186342.40    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Liquide SA                 | Air Liquide SA                                 | CUSIP: 000000000<br>LEI: 969500MMPQVHK671GT54 | Short            | EC               | CORP              | FR        |      -1098 | NS      | $-155845.11   | -0.40%            |  |  |  | No            |                  2 | On Loan: No      |
| STEQ/PB BARCLAYS BANK COC      | STEQ/PB BARCLAYS BANK COC                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    3595838 | NS      | $2655714.82   | 6.74%             |  |  |  | No            |                  2 | On Loan: No      |
| First Financial Bankshares Inc | First Financial Bankshares Inc                 | CUSIP: 32020R109<br>LEI: 549300XN3GTGOENGNV49 | Short            | EC               | CORP              | US        |      -4508 | NS      | $-155075.20   | -0.39%            |  |  |  | No            |                  1 | On Loan: No      |
| Amano Corp                     | Amano Corp                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       6600 | NS      | $121240.11    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Equifax Inc                    | Equifax Inc                                    | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Short            | EC               | CORP              | US        |       -685 | NS      | $-133136.60   | -0.34%            |  |  |  | No            |                  1 | On Loan: No      |
| Toho Co Ltd/Tokyo              | Toho Co Ltd/Tokyo                              | CUSIP: 000000000<br>LEI: 529900IYHHYWU4O3H185 | Short            | EC               | CORP              | JP        |      -3100 | NS      | $-119492.22   | -0.30%            |  |  |  | No            |                  2 | On Loan: No      |
| Yelp Inc                       | Yelp Inc                                       | CUSIP: 985817105<br>LEI: 5299007OU2DOSXPQBO35 | Long             | EC               | CORP              | US        |       6393 | NS      | $174784.62    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Serco Group PLC                | Serco Group PLC                                | CUSIP: 000000000<br>LEI: 549300PT2CIHYN5GWJ21 | Long             | EC               | CORP              | GB        |      96346 | NS      | $181006.03    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Adevinta ASA                   | Adevinta ASA                                   | CUSIP: 000000000<br>LEI: 529900W8V3YLHRSZH763 | Short            | EC               | CORP              | NO        |     -17000 | NS      | $-112569.29   | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| Kobe Bussan Co Ltd             | Kobe Bussan Co Ltd                             | CUSIP: 000000000<br>LEI: 353800CJIFNHN2DXRD59 | Short            | EC               | CORP              | JP        |      -4900 | NS      | $-141223.92   | -0.36%            |  |  |  | No            |                  2 | On Loan: No      |
| McKesson Corp                  | McKesson Corp                                  | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |        656 | NS      | $246078.72    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Paycor HCM Inc                 | Paycor HCM Inc                                 | CUSIP: 70435P102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -4300 | NS      | $-105221.00   | -0.27%            |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Prologis REIT Inc       | Nippon Prologis REIT Inc                       | CUSIP: 000000000<br>LEI: 353800PHBMSDLAFURY41 | Short            | EC               | CORP              | JP        |        -50 | NS      | $-117228.81   | -0.30%            |  |  |  | No            |                  2 | On Loan: No      |
| Heineken Holding NV            | Heineken Holding NV                            | CUSIP: 000000000<br>LEI: 724500M1WJLFM9TYBS04 | Long             | EC               | CORP              | NL        |       2462 | NS      | $190141.37    | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| MatsukiyoCocokara & Co         | MatsukiyoCocokara & Co                         | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | JP        |      -3200 | NS      | $-160844.25   | -0.41%            |  |  |  | No            |                  2 | On Loan: No      |
| Repsol SA                      | Repsol SA                                      | CUSIP: 000000000<br>LEI: BSYCX13Y0NOTV14V9N85 | Long             | EC               | CORP              | ES        |      14334 | NS      | $228154.59    | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Evotec SE                      | Evotec SE                                      | CUSIP: 000000000<br>LEI: 529900F9KI6OYITO9B12 | Short            | EC               | CORP              | DE        |      -7515 | NS      | $-122254.99   | -0.31%            |  |  |  | No            |                  2 | On Loan: No      |
| MetLife Inc                    | MetLife Inc                                    | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |       3195 | NS      | $231222.15    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Jeronimo Martins SGPS SA       | Jeronimo Martins SGPS SA                       | CUSIP: 000000000<br>LEI: 259400A8SZP10GB5IB19 | Long             | EC               | CORP              | PT        |      10750 | NS      | $232581.63    | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Nasdaq Inc                     | Nasdaq Inc                                     | CUSIP: 631103108<br>LEI: 549300L8X1Q78ERXFD06 | Short            | EC               | CORP              | US        |      -1950 | NS      | $-119632.50   | -0.30%            |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc           | Chart Industries Inc                           | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Short            | EC               | CORP              | US        |       -400 | NS      | $-46092.00    | -0.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information  | Fidelity National Information Services Inc     | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Short            | EC               | CORP              | US        |      -1845 | NS      | $-125183.25   | -0.32%            |  |  |  | No            |                  1 | On Loan: No      |
| Parex Resources Inc            | Parex Resources Inc                            | CUSIP: 69946Q104<br>LEI: 549300U7LWRGTY6XWK67 | Long             | EC               | CORP              | CA        |       9900 | NS      | $147330.13    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Cleanaway Waste Management Ltd | Cleanaway Waste Management Ltd                 | CUSIP: 000000000<br>LEI: 549300D5C72CV6CIBS66 | Short            | EC               | CORP              | AU        |     -67452 | NS      | $-120188.19   | -0.30%            |  |  |  | No            |                  2 | On Loan: No      |
| CIBC                           | Canadian Imperial Bank of Commerce             | CUSIP: 136069101<br>LEI: 2IGI19DL77OX0HC3ZE78 | Short            | EC               | CORP              | CA        |      -2900 | NS      | $-117306.50   | -0.30%            |  |  |  | No            |                  1 | On Loan: No      |
| Hirose Electric Co Ltd         | Hirose Electric Co Ltd                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       1000 | NS      | $125421.40    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Shopify Inc                    | Shopify Inc                                    | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Short            | EC               | CORP              | CA        |      -5000 | NS      | $-173596.75   | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| Shop Apotheke Europe NV        | Shop Apotheke Europe NV                        | CUSIP: 000000000<br>LEI: 529900JK6UXHY1YKZ082 | Short            | EC               | CORP              | NL        |      -1944 | NS      | $-91729.01    | -0.23%            |  |  |  | No            |                  2 | On Loan: No      |
| Empire Co Ltd                  | Empire Co Ltd                                  | CUSIP: 291843407<br>LEI: 549300TX0ZUSTEF7C719 | Long             | EC               | CORP              | CA        |       5400 | NS      | $142218.61    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosus NV                      | Prosus NV                                      | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Short            | EC               | CORP              | NL        |      -2800 | NS      | $-193321.65   | -0.49%            |  |  |  | No            |                  2 | On Loan: No      |
| Emerson Electric Co            | Emerson Electric Co                            | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Short            | EC               | CORP              | US        |      -1800 | NS      | $-172908.00   | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| GungHo Online Entertainment In | GungHo Online Entertainment Inc                | CUSIP: 000000000<br>LEI: 529900TH7FB4RV6F5S47 | Long             | EC               | CORP              | JP        |       9000 | NS      | $145368.40    | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Essent Group Ltd               | Essent Group Ltd                               | CUSIP: 000000000<br>LEI: 254900QUO860OUT6ZF83 | Long             | EC               | CORP              | US        |       4475 | NS      | $173988.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Biffa PLC                      | Biffa PLC                                      | CUSIP: 000000000<br>LEI: 2138008RB4WDK7HYYS91 | Short            | EC               | CORP              | GB        |     -37792 | NS      | $-186135.51   | -0.47%            |  |  |  | No            |                  1 | On Loan: No      |
| G5 Entertainment AB            | G5 Entertainment AB                            | CUSIP: 000000000<br>LEI: 549300K7QJ1N1FEG2X81 | Long             | EC               | CORP              | SE        |       3528 | NS      | $71318.21     | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Huntsman Corp                  | Huntsman Corp                                  | CUSIP: 447011107<br>LEI: 5299000V56320A7RIQ67 | Long             | EC               | CORP              | US        |       5243 | NS      | $144077.64    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Altus Group Ltd/Canada         | Altus Group Ltd/Canada                         | CUSIP: 02215R107<br>LEI: 54930041VO1EIY4IV355 | Short            | EC               | CORP              | CA        |      -3200 | NS      | $-127716.40   | -0.32%            |  |  |  | No            |                  1 | On Loan: No      |
| Qualys Inc                     | Qualys Inc                                     | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |       1766 | NS      | $198198.18    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| National Australia Bank Ltd    | National Australia Bank Ltd                    | CUSIP: 000000000<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Short            | EC               | CORP              | AU        |      -7740 | NS      | $-157149.90   | -0.40%            |  |  |  | No            |                  2 | On Loan: No      |
| Veolia Environnement SA        | Veolia Environnement SA                        | CUSIP: 000000000<br>LEI: 969500LENY69X51OOT31 | Short            | EC               | CORP              | FR        |      -6469 | NS      | $-166217.30   | -0.42%            |  |  |  | No            |                  2 | On Loan: No      |
| Adecco Group AG                | Adecco Group AG                                | CUSIP: 000000000<br>LEI: NI14Y5UMU60O7JE9P611 | Short            | EC               | CORP              | CH        |      -4172 | NS      | $-137237.35   | -0.35%            |  |  |  | No            |                  2 | On Loan: No      |
| Imperial Oil Ltd               | Imperial Oil Ltd                               | CUSIP: 453038408<br>LEI: 549300JZNB745JT5WY51 | Long             | EC               | CORP              | CA        |       3600 | NS      | $175347.12    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Genius Sports Ltd              | Genius Sports Ltd                              | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | GB        |     -30411 | NS      | $-108567.27   | -0.28%            |  |  |  | No            |                  1 | On Loan: No      |
| Advance Auto Parts Inc         | Advance Auto Parts Inc                         | CUSIP: 00751Y106<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | EC               | CORP              | US        |        794 | NS      | $116741.82    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Coronado Global Resources Inc  | Coronado Global Resources Inc                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |     128824 | NS      | $174176.70    | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Brookfield Asset Management Lt | Brookfield Asset Management Ltd                | CUSIP: 113004105<br>LEI: N/A                  | Short            | EC               | CORP              | CA        |      -1076 | NS      | $-30856.09    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corp                      | PG&E Corp                                      | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Short            | EC               | CORP              | US        |      -7200 | NS      | $-117072.00   | -0.30%            |  |  |  | No            |                  1 | On Loan: No      |
| Vantage Towers AG              | Vantage Towers AG                              | CUSIP: 000000000<br>LEI: 213800BBQO965UPQ7J59 | Short            | EC               | CORP              | DE        |      -3686 | NS      | $-126324.77   | -0.32%            |  |  |  | No            |                  2 | On Loan: No      |
| STEQ/PB BARCLAYS BANK COC      | STEQ/PB BARCLAYS BANK COC                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | NO        |    2791337 | NS      | $284923.30    | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Definitive Healthcare Corp     | Definitive Healthcare Corp                     | CUSIP: 24477E103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -8116 | NS      | $-89194.84    | -0.23%            |  |  |  | No            |                  1 | On Loan: No      |
| MINEBEA MITSUMI Inc            | MINEBEA MITSUMI Inc                            | CUSIP: 000000000<br>LEI: 353800CCB0CZ75YZ4010 | Short            | EC               | CORP              | JP        |      -7800 | NS      | $-115565.45   | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| Spin Master Corp               | Spin Master Corp                               | CUSIP: 848510103<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |       4600 | NS      | $113199.41    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| NGK Spark Plug Co Ltd          | NGK Spark Plug Co Ltd                          | CUSIP: 000000000<br>LEI: 549300RG3XQGTFM4HH31 | Long             | EC               | CORP              | JP        |      12800 | NS      | $234586.62    | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Regal Rexnord Corp             | Regal Rexnord Corp                             | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Short            | EC               | CORP              | US        |       -862 | NS      | $-103422.76   | -0.26%            |  |  |  | No            |                  1 | On Loan: No      |
| PrairieSky Royalty Ltd         | PrairieSky Royalty Ltd                         | CUSIP: 739721108<br>LEI: 529900AXG582AP7CV733 | Short            | EC               | CORP              | CA        |     -13600 | NS      | $-217961.60   | -0.55%            |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                   | DoorDash Inc                                   | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Short            | EC               | CORP              | US        |      -2286 | NS      | $-111602.52   | -0.28%            |  |  |  | No            |                  1 | On Loan: No      |
| Ocado Group PLC                | Ocado Group PLC                                | CUSIP: 000000000<br>LEI: 213800LO8F61YB8MBC74 | Short            | EC               | CORP              | GB        |     -18521 | NS      | $-137481.77   | -0.35%            |  |  |  | No            |                  2 | On Loan: No      |
| PPG Industries Inc             | PPG Industries Inc                             | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Short            | EC               | CORP              | US        |      -1257 | NS      | $-158055.18   | -0.40%            |  |  |  | No            |                  1 | On Loan: No      |
| Ono Pharmaceutical Co Ltd      | Ono Pharmaceutical Co Ltd                      | CUSIP: 000000000<br>LEI: 529900G26L4NG4GFJZ86 | Long             | EC               | CORP              | JP        |       7000 | NS      | $163615.11    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Amdocs Ltd                     | Amdocs Ltd                                     | CUSIP: 000000000<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               | CORP              | US        |       1929 | NS      | $175346.10    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Dechra Pharmaceuticals PLC     | Dechra Pharmaceuticals PLC                     | CUSIP: 000000000<br>LEI: 213800J4UVB5OWG8VX82 | Short            | EC               | CORP              | GB        |      -4206 | NS      | $-132572.35   | -0.34%            |  |  |  | No            |                  2 | On Loan: No      |
| Marathon Petroleum Corp        | Marathon Petroleum Corp                        | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |       1700 | NS      | $197863.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | USD/GBP FORWARD                                | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |          1 | NC      | $107354.30    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| NextEra Energy Inc             | NextEra Energy Inc                             | CUSIP: 65339F101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -2060 | NS      | $-172216.00   | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| Sega Sammy Holdings Inc        | Sega Sammy Holdings Inc                        | CUSIP: 000000000<br>LEI: 5493006B6WMKNQ8QNP51 | Long             | EC               | CORP              | JP        |      11500 | NS      | $173643.85    | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Airport Terminal Co Ltd  | Japan Airport Terminal Co Ltd                  | CUSIP: 000000000<br>LEI: 353800W9WEQSGUY2EO26 | Short            | EC               | CORP              | JP        |      -3600 | NS      | $-177542.13   | -0.45%            |  |  |  | No            |                  2 | On Loan: No      |
| Kurita Water Industries Ltd    | Kurita Water Industries Ltd                    | CUSIP: 000000000<br>LEI: 52990086GS2ON69UMX34 | Short            | EC               | CORP              | JP        |      -5100 | NS      | $-210654.20   | -0.53%            |  |  |  | No            |                  2 | On Loan: No      |
| Fortescue Metals Group Ltd     | Fortescue Metals Group Ltd                     | CUSIP: 000000000<br>LEI: 529900VEJFORCO6I4826 | Short            | EC               | CORP              | AU        |     -12919 | NS      | $-180570.86   | -0.46%            |  |  |  | No            |                  2 | On Loan: No      |
| DMG Mori Co Ltd                | DMG Mori Co Ltd                                | CUSIP: 000000000<br>LEI: 353800P4I3FIXTQV2E13 | Long             | EC               | CORP              | JP        |      11300 | NS      | $149642.93    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Pacific Premier Bancorp Inc    | Pacific Premier Bancorp Inc                    | CUSIP: 69478X105<br>LEI: 549300Q1KIC3KLI0XG98 | Short            | EC               | CORP              | US        |      -4001 | NS      | $-126271.56   | -0.32%            |  |  |  | No            |                  1 | On Loan: No      |
| Meitec Corp                    | Meitec Corp                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      11700 | NS      | $212238.60    | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-22

**Name of Applicant:** Legg Mason Global Asset Management Trust

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer