# EDGAR Filing Document

**Accession Number:** 0000711322
**File Stem:** 0001145549-23-013854
**Filing Date:** 2023-3
**Character Count:** 45065
**Document Hash:** 45897a298d3baef37c100759e3cc2335
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-013854.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001145549-23-013854

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GREENSPRING FUND INC
- **CENTRAL INDEX KEY:** 0000711322
- **IRS NUMBER:** 521267740
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03627
- **FILM NUMBER:** 23687975

**BUSINESS ADDRESS:**
- **STREET 1:** 2330 WEST JOPPA ROAD SUITE 110
- **CITY:** LUTHERVILLE
- **STATE:** MD
- **ZIP:** 21093
- **BUSINESS PHONE:** 4108235353

**MAIL ADDRESS:**
- **STREET 1:** 2330 WEST JOPPA ROAD SUITE 110
- **CITY:** LUTHERVILLE
- **STATE:** MD
- **ZIP:** 21093

## Series and Classes Contracts Data

### Greenspring Fund (Series ID: S000005877)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000016098 | retail       | GRSPX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Greenspring Fund Inc

- **b. Investment Company Act file number:** 811-03627

- **c. CIK number of Registrant:** 0000711322

- **d. LEI of Registrant:** 549300UP7S84EHYTHT24

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

  - **Street Address 1:** 2330 West Joppa Road

  - **City:** Lutherville

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 21093

  - **Telephone number:** 410-823-5353

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

- **a. Name of Series:** Greenspring Fund

- **b. EDGAR series identifier (if any):** S000005877

- **c. LEI of Series:** 549300UP7S84EHYTHT24

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $136048501.33

**Total Liabilities:** $163156.15

**Net Assets:** $135885345.18

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000016098 | 7.15%                | 4.88%                | -4.24%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $196197.24               | $9081563.24                                |
| Month 2  | $47020.36                | $6502348.44                                |
| Month 3  | $150406.32               | $-6440711.52                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ARCONIC CORP                   | Arconic Corp                                                                    | CUSIP: 03966VAB3<br>LEI: 549300B4YFWH3U74B152 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39423.86     | 0.03%             | 2025-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ARROW BIDCO LLC                | Arrow Bidco LLC                                                                 | CUSIP: 042728AA3<br>LEI: 549300YHZN08M0H3O128 | Long             | DBT              | CORP              | US        |    650000 | PA      | $649403.74    | 0.48%             | 2024-03-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Avid Technology Inc            | Avid Technology Inc                                                             | CUSIP: 05367P100<br>LEI: 549300PQGW3DXKJTQ914 | Long             | EC               | CORP              | US        |     20520 | NS      | $545626.80    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| W R Berkley Corp               | W R Berkley Corp                                                                | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |     47610 | NS      | $3455057.70   | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKSTONE MORTGAGE TR         | Blackstone Mortgage Trust Inc                                                   | CUSIP: 09257WAC4<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              | CORP              | US        |    350000 | PA      | $346718.75    | 0.26%             | 2023-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE            | CDW LLC / CDW Finance Corp                                                      | CUSIP: 12513GBF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    290000 | PA      | $247504.85    | 0.18%             | 2029-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Cannae Holdings Inc            | Cannae Holdings Inc                                                             | CUSIP: 13765N107<br>LEI: 549300OGRF1ICI7D2V77 | Long             | EC               | CORP              | US        |     28822 | NS      | $595174.30    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CEDAR FAIR/CAN/MAGNUM/MI       | Cedar Fair LP / Canada's Wonderland Co / Magnum Management Corp / Millennium Op | CUSIP: 150190AK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     80000 | PA      | $77501.60     | 0.06%             | 2028-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CINEMARK USA INC               | Cinemark USA Inc                                                                | CUSIP: 172441BC0<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |    500000 | PA      | $506239.38    | 0.37%             | 2025-05-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Cisco Systems Inc              | Cisco Systems Inc                                                               | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     62264 | NS      | $2966256.96   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CLEVELAND-CLIFFS INC           | Cleveland-Cliffs Inc                                                            | CUSIP: 185899AG6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    190000 | PA      | $190801.80    | 0.14%             | 2026-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC           | Cleveland-Cliffs Inc                                                            | CUSIP: 185899AH4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    752000 | PA      | $719697.56    | 0.53%             | 2027-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Co/The               | Coca-Cola Co/The                                                                | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |      6871 | NS      | $437064.31    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Colombier Acquisition Corp     | Colombier Acquisition Corp                                                      | CUSIP: 19533H108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9605 | NS      | $95473.70     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITALBRIDGE GROUP INC        | DigitalBridge Group Inc                                                         | CUSIP: 19624RAA4<br>LEI: 549300XG87L902AGBO89 | Long             | DBT              | CORP              | US        |    703000 | PA      | $695970.00    | 0.51%             | 2023-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COMPASS MINERALS INTERNA       | Compass Minerals International Inc                                              | CUSIP: 20451NAE1<br>LEI: 2549008X9G8XP7YJGC47 | Long             | DBT              | CORP              | US        |    429000 | PA      | $415078.95    | 0.31%             | 2024-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CONSENSUS CLOUD SOLUTION       | Consensus Cloud Solutions Inc                                                   | CUSIP: 20848VAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    539000 | PA      | $506393.57    | 0.37%             | 2026-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COTY INC                       | Coty Inc                                                                        | CUSIP: 222070AB0<br>LEI: 549300BO9IWPF3S48F93 | Long             | DBT              | CORP              | US        |    115000 | PA      | $110578.25    | 0.08%             | 2026-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CREDIT ACCEPTANC               | Credit Acceptance Corp                                                          | CUSIP: 225310AM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $474693.75    | 0.35%             | 2026-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CREDIT ACCEPTANC               | Credit Acceptance Corp                                                          | CUSIP: 225310AN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $141364.43    | 0.10%             | 2024-12-31      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CROWN AMER/CAP CORP VI         | Crown Americas LLC / Crown Americas Capital Corp VI                             | CUSIP: 228187AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $170182.25    | 0.13%             | 2026-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DANA FINANCING LUX SARL        | Dana Financing Luxembourg Sarl                                                  | CUSIP: 235822AB9<br>LEI: 222100DKCE3D036DQU13 | Long             | DBT              | CORP              | LU        |    180000 | PA      | $176431.82    | 0.13%             | 2025-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Dun & Bradstreet Holdings Inc  | Dun & Bradstreet Holdings Inc                                                   | CUSIP: 26484T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    123064 | NS      | $1508764.64   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| DuPont de Nemours Inc          | DuPont de Nemours Inc                                                           | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |     49831 | NS      | $3419901.53   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| EG Acquisition Corp            | EG Acquisition Corp                                                             | CUSIP: 26846A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7351 | NS      | $73289.47     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc              | EOG Resources Inc                                                               | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     25226 | NS      | $3267271.52   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group Inc                | EMCOR Group Inc                                                                 | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |     33710 | NS      | $4992788.10   | 3.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerson Electric Co            | Emerson Electric Co                                                             | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |     14825 | NS      | $1424089.50   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ENPRO INDUSTRIES INC           | EnPro Industries Inc                                                            | CUSIP: 29355XAG2<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |    803000 | PA      | $782684.10    | 0.58%             | 2026-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Envista Holdings Corp          | Envista Holdings Corp                                                           | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |     28486 | NS      | $959123.62    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Treasury Obliga | First American Treasury Obligations Fund                                        | CUSIP: 31846V328<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1745664 | NS      | $1745663.78   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST QUANTUM MINERALS L       | First Quantum Minerals Ltd                                                      | CUSIP: 335934AP0<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $244937.50    | 0.18%             | 2024-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER         | Goodyear Tire & Rubber Co/The                                                   | CUSIP: 382550BF7<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    296000 | PA      | $279696.82    | 0.21%             | 2026-05-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC          | Uber Technologies Inc                                                           | CUSIP: 90353TAF7<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    172000 | PA      | $172125.84    | 0.13%             | 2025-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| United Parcel Service Inc      | United Parcel Service Inc                                                       | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |     14441 | NS      | $2510423.44   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED RENTALS NORTH AM        | United Rentals North America Inc                                                | CUSIP: 911365BM5<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    500000 | PA      | $463560.00    | 0.34%             | 2027-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Visa Inc                       | Visa Inc                                                                        | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     13905 | NS      | $2888902.80   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| WSFS Financial Corp            | WSFS Financial Corp                                                             | CUSIP: 929328102<br>LEI: 549300SU7VQHD6QRG886 | Long             | EC               | CORP              | US        |     33305 | NS      | $1510048.70   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| WEATHERFORD INTL LTD           | Weatherford International Ltd                                                   | CUSIP: 947075AP2<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |     63000 | PA      | $64497.77     | 0.05%             | 2024-12-01      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC         | WESCO Distribution Inc                                                          | CUSIP: 95081QAN4<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202942.42    | 0.15%             | 2025-06-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Wyndham Hotels & Resorts Inc   | Wyndham Hotels & Resorts Inc                                                    | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |     36748 | NS      | $2620499.88   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Ltd                     | Amdocs Ltd                                                                      | CUSIP: N/A<br>LEI: 549300HQV672RJ7RQV66       | Long             | EC               | CORP              | US        |     16504 | NS      | $1500213.60   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Whale Acquisition Corp I  | Blue Whale Acquisition Corp I                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AE        |      3000 | NS      | $29370.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Controls International | Johnson Controls International plc                                              | CUSIP: N/A<br>LEI: 549300XQ6S1GYKGBL205       | Long             | EC               | CORP              | US        |     71685 | NS      | $4587840.00   | 3.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                  | Medtronic PLC                                                                   | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |     39666 | NS      | $3082841.52   | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| nVent Electric PLC             | nVent Electric PLC                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | GB        |     20000 | NS      | $769400.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd                      | Chubb Ltd                                                                       | CUSIP: N/A<br>LEI: E0JAN6VLUDI1HITHT809       | Long             | EC               | CORP              | CH        |     10868 | NS      | $2397480.80   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| GASLOG PARTNERS LP             | GasLog Partners LP                                                              | CUSIP: EP0528133<br>LEI: 5299004R0RSGEG82BS06 | Long             | EP               | CORP              | MH        |     85792 | NS      | $2076990.00   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| GASLOG PARTNERS LP             | GasLog Partners LP                                                              | CUSIP: EP0546291<br>LEI: 5299004R0RSGEG82BS06 | Long             | EP               | CORP              | MH        |     13963 | NS      | $342093.50    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories            | Abbott Laboratories                                                             | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     10500 | NS      | $1152795.00   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Drainage Systems Inc  | Advanced Drainage Systems Inc                                                   | CUSIP: 00790R104<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | EC               | CORP              | US        |      3510 | NS      | $287714.70    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY         | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC           | CUSIP: 013092AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $255692.46    | 0.19%             | 2026-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                                                                    | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     44659 | NS      | $3962593.07   | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com Inc                                                                  | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     19870 | NS      | $1669080.00   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent          | American Homes 4 Rent                                                           | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |     51119 | NS      | $1540726.66   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| American National Bankshares I | American National Bankshares Inc                                                | CUSIP: 027745108<br>LEI: 5493001AQ734BV16EM88 | Long             | EC               | CORP              | US        |     35987 | NS      | $1328999.91   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI       | Antero Midstream Partners LP / Antero Midstream Finance Corp                    | CUSIP: 03690EAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $101370.12    | 0.07%             | 2026-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| GRIFFON CORPORATION            | Griffon Corp                                                                    | CUSIP: 398433AP7<br>LEI: 5493000C2SGNC7ZN3242 | Long             | DBT              | CORP              | US        |    369000 | PA      | $338206.95    | 0.25%             | 2028-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HAEMONETICS CORP               | Haemonetics Corp                                                                | CUSIP: 405024AB6<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | DBT              | CORP              | US        |    500000 | PA      | $415650.00    | 0.31%             | 2026-03-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP          | Encompass Health Corp                                                           | CUSIP: 421924BT7<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    243000 | PA      | $240496.40    | 0.18%             | 2025-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HOPE BANCORP INC               | Hope Bancorp Inc                                                                | CUSIP: 43940TAB5<br>LEI: 549300UTF4QGMBHIZ219 | Long             | DBT              | CORP              | US        |    346000 | PA      | $339772.00    | 0.25%             | 2038-05-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ISTAR INC                      | iStar Inc                                                                       | CUSIP: 45031UCF6<br>LEI: QFFLKWYYS3UPWD86E794 | Long             | DBT              | CORP              | US        |    325000 | PA      | $323117.71    | 0.24%             | 2024-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ISTAR INC                      | iStar Inc                                                                       | CUSIP: 45031UCJ8<br>LEI: QFFLKWYYS3UPWD86E794 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99915.00     | 0.07%             | 2026-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC       | iHeartCommunications Inc                                                        | CUSIP: 45174HBD8<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |   1661000 | PA      | $1415981.74   | 1.04%             | 2027-05-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| IFF                            | International Flavors & Fragrances Inc                                          | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               | CORP              | US        |      4249 | NS      | $445465.16    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Solar ETF              | Invesco Solar ETF                                                               | CUSIP: 46138G706<br>LEI: 549300Q2OQ2U87KJR762 | Long             | EC               | RF                | US        |     39959 | NS      | $2914609.46   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| JAGUAR LAND ROVER AUTOMO       | Jaguar Land Rover Automotive PLC                                                | CUSIP: 47010BAA2<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | GB        |    150000 | PA      | $149346.05    | 0.11%             | 2023-02-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Johnson & Johnson              | Johnson & Johnson                                                               | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      7337 | NS      | $1296081.05   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Ziff Davis Inc                 | Ziff Davis Inc                                                                  | CUSIP: 48123V102<br>LEI: 5493008OJYGLHD7MXA18 | Long             | EC               | CORP              | US        |     56985 | NS      | $4507513.50   | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIFF DAVIS INC                 | Ziff Davis Inc                                                                  | CUSIP: 48123VAD4<br>LEI: 5493008OJYGLHD7MXA18 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1002000.00   | 0.74%             | 2026-11-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| KBR Inc                        | KBR Inc                                                                         | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |    184585 | NS      | $9746088.00   | 7.17%             |  |  |  | No            |                  1 | On Loan: No      |
| LENDINGTREE INC                | LendingTree Inc                                                                 | CUSIP: 52603BAD9<br>LEI: 549300ISY5YHUJZTON08 | Long             | DBT              | CORP              | US        |    535000 | PA      | $391941.00    | 0.29%             | 2025-07-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Levi Strauss & Co              | Levi Strauss & Co                                                               | CUSIP: 52736R102<br>LEI: MB0UERO0RDFKU8258G77 | Long             | EC               | CORP              | US        |    171905 | NS      | $2667965.60   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| MPT OPER PARTNERSP/FINL        | MPT Operating Partnership LP / MPT Finance Corp                                 | CUSIP: 55342UAH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $294966.00    | 0.22%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MYR Group Inc                  | MYR Group Inc                                                                   | CUSIP: 55405W104<br>LEI: 529900G1IMMZHOQ17I54 | Long             | EC               | CORP              | US        |     52341 | NS      | $4819035.87   | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| MARRIOTT OWNERSHIP RESOR       | Marriott Ownership Resorts Inc                                                  | CUSIP: 57164PAF3<br>LEI: BW4532OH033VURR0IT68 | Long             | DBT              | CORP              | US        |    141000 | PA      | $122998.78    | 0.09%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                 | NRG Energy Inc                                                                  | CUSIP: 629377CC4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    164000 | PA      | $162881.52    | 0.12%             | 2027-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                 | NRG Energy Inc                                                                  | CUSIP: 629377CE0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    718000 | PA      | $675135.40    | 0.50%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC        | New Fortress Energy Inc                                                         | CUSIP: 644393AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    625000 | PA      | $592575.00    | 0.44%             | 2025-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Inc             | NextEra Energy Inc                                                              | CUSIP: 65339F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26555 | NS      | $2219998.00   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY OPERATING       | NextEra Energy Operating Partners LP                                            | CUSIP: 65342QAK8<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    409000 | PA      | $397397.08    | 0.29%             | 2024-07-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| OceanFirst Financial Corp      | OceanFirst Financial Corp                                                       | CUSIP: 675234108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     47753 | NS      | $1014751.25   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Osiris Acquisition Corp        | Osiris Acquisition Corp                                                         | CUSIP: 68829A103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     44942 | NS      | $448745.87    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| OWENS & MINOR INC              | Owens & Minor Inc                                                               | CUSIP: 690732AE2<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19363.09     | 0.01%             | 2024-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Owens Corning                  | Owens Corning                                                                   | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |     16151 | NS      | $1377680.30   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PDC ENERGY INC                 | PDC Energy Inc                                                                  | CUSIP: 69327RAG6<br>LEI: 5493008W8H2T511J5Y59 | Long             | DBT              | CORP              | US        |    111000 | PA      | $110558.22    | 0.08%             | 2024-09-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| PDC ENERGY INC                 | PDC Energy Inc                                                                  | CUSIP: 69327RAJ0<br>LEI: 5493008W8H2T511J5Y59 | Long             | DBT              | CORP              | US        |     80000 | PA      | $76496.00     | 0.06%             | 2026-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PTC INC                        | PTC Inc                                                                         | CUSIP: 69370CAB6<br>LEI: 54930050SSMU8SKDJ030 | Long             | DBT              | CORP              | US        |    145000 | PA      | $138330.83    | 0.10%             | 2025-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Phillips 66                    | Phillips 66                                                                     | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |      2813 | NS      | $292777.04    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| WILLIAMS SCOTSMAN INTL         | Williams Scotsman International Inc                                             | CUSIP: 71953LAA9<br>LEI: 549300V3TCHCBOBTGH07 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247887.50    | 0.18%             | 2025-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Post Holdings Partnering Corp  | Post Holdings Partnering Corp                                                   | CUSIP: 737465104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6568 | NS      | $65220.24     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Primis Financial Corp          | Primis Financial Corp                                                           | CUSIP: 74167B109<br>LEI: 549300JNX3M2EENG1F11 | Long             | EC               | CORP              | US        |    353147 | NS      | $4184791.95   | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services Inc          | Republic Services Inc                                                           | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |     79747 | NS      | $10286565.53  | 7.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Rush Enterprises Inc           | Rush Enterprises Inc                                                            | CUSIP: 781846209<br>LEI: 529900V3XHTN7A6DFT17 | Long             | EC               | CORP              | US        |     11893 | NS      | $621766.04    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Rush Enterprises Inc           | Rush Enterprises Inc                                                            | CUSIP: 781846308<br>LEI: 529900V3XHTN7A6DFT17 | Long             | EC               | CORP              | US        |     11552 | NS      | $650031.04    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| SAFEWAY INC                    | Safeway Inc                                                                     | CUSIP: 786514AS8<br>LEI: 549300NKZ6VCN5P3K723 | Long             | DBT              | CORP              | US        |    273000 | PA      | $278783.51    | 0.21%             | 2027-09-15      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| SCIENTIFIC GAMES INTERNA       | Scientific Games International Inc                                              | CUSIP: 80874YBG4<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204384.40    | 0.15%             | 2025-07-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO          | Scotts Miracle-Gro Co/The                                                       | CUSIP: 810186AS5<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |    120000 | PA      | $97416.00     | 0.07%             | 2029-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Sherwin-Williams Co/The        | Sherwin-Williams Co/The                                                         | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |      5352 | NS      | $1270190.16   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Shore Bancshares Inc           | Shore Bancshares Inc                                                            | CUSIP: 825107105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    123112 | NS      | $2145842.16   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| SIGNET UK FINANCE PLC          | Signet UK Finance PLC                                                           | CUSIP: 82671AAA1<br>LEI: 529900PWL7LM6UK07586 | Long             | DBT              | CORP              | GB        |    510000 | PA      | $497242.35    | 0.37%             | 2024-06-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| SPECTRUM BRANDS INC            | Spectrum Brands Inc                                                             | CUSIP: 84762LAU9<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |    614000 | PA      | $607963.91    | 0.45%             | 2025-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| STERICYCLE INC                 | Stericycle Inc                                                                  | CUSIP: 858912AF5<br>LEI: B8PTJH2P0AXSWSMP2136 | Long             | DBT              | CORP              | US        |    375000 | PA      | $369999.38    | 0.27%             | 2024-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                | Gen Digital Inc                                                                 | CUSIP: 871503AU2<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48748.49     | 0.04%             | 2025-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| T-Mobile US Inc                | T-Mobile US Inc                                                                 | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |     38933 | NS      | $5450620.00   | 4.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TENET HEALTHCARE CORP          | Tenet Healthcare Corp                                                           | CUSIP: 88033GCS7<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    250000 | PA      | $244179.28    | 0.18%             | 2024-07-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                  | TransDigm Inc                                                                   | CUSIP: 893647BB2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1091000 | PA      | $1063086.50   | 0.78%             | 2026-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                  | TransDigm Inc                                                                   | CUSIP: 893647BH9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     44000 | PA      | $43603.44     | 0.03%             | 2027-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-24

**Name of Applicant:** Greenspring Fund Inc

**Signature:** /s/ Elizabeth Agresta Swam

**Name of Signer:** Greenspring Fund Inc

**Title:** CCO