# EDGAR Filing Document

**Accession Number:** 0001643174
**File Stem:** 0000894189-26-013910
**Filing Date:** 2026-4
**Character Count:** 125837
**Document Hash:** 19fa5062e04faf02f0542cb353e0328e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-013910.hdr.sgml**: 20260429

**ACCESSION NUMBER**: 0000894189-26-013910

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260429

**DATE AS OF CHANGE**: 20260429

**PERIOD START**: 20261130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Horizon Funds
- **CENTRAL INDEX KEY:** 0001643174

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23063
- **FILM NUMBER:** 26915994

**BUSINESS ADDRESS:**
- **STREET 1:** 6210 ARDREY KELL ROAD
- **STREET 2:** SUITE 300
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28277
- **BUSINESS PHONE:** 704-544-2399

**MAIL ADDRESS:**
- **STREET 1:** 6210 ARDREY KELL ROAD
- **STREET 2:** SUITE 300
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28277

## Series and Classes Contracts Data

### Horizon Multi-Factor Small/Mid Cap Fund (Series ID: S000079220)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000240165 | Investor Class | HSMNX           |
| C000240166 | Advisor Class  | HSMBX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Horizon Multi-Factor Small/Mid Cap Fund** | **Horizon Multi-Factor Small/Mid Cap Fund** | **Horizon Multi-Factor Small/Mid Cap Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **February 28, 2026 (Unaudited)** | **February 28, 2026 (Unaudited)** | **February 28, 2026 (Unaudited)** |
| **COMMON STOCKS - 94.1%** | **Shares**  | **Value**  |
| **Aerospace & Defense - 3.3%** | **Aerospace & Defense - 3.3%** | |
| ATI, Inc. <sup>(a)</sup> | 55375 | $9058796 |
| Curtiss-Wright Corp. | 18818 | 13178810 |
|  |  | 22237606 |
| **Air Freight & Logistics - 0.1%** | **Air Freight & Logistics - 0.1%** |  |
| Hub Group, Inc. - Class A | 15496 | 667413 |
| **Automobile Components - 1.2%** | **Automobile Components - 1.2%** |  |
| BorgWarner, Inc. | 90192 | 5192354 |
| Dana, Inc. | 29493 | 1009840 |
| Phinia, Inc. | 11564 | 839893 |
| Standard Motor Products, Inc. | 17128 | 679639 |
| Visteon Corp. | 6496 | 621472 |
|  |  | 8343198 |
| **Banks - 5.6%** | **Banks - 5.6%** |  |
| Ameris Bancorp | 35101 | 2725944 |
| BankUnited, Inc. | 42120 | 1967004 |
| Banner Corp. | 17196 | 1011985 |
| Cathay General Bancorp | 14579 | 724722 |
| Central Pacific Financial Corp. | 20300 | 646555 |
| First Bancorp | 71240 | 1505301 |
| First Financial Bancorp | 24626 | 691252 |
| FNB Corp./PA | 127548 | 2167040 |
| Hanmi Financial Corp. | 22852 | 596666 |
| Hilltop Holdings, Inc. | 27005 | 1010797 |
| International Bancshares Corp. | 20172 | 1353743 |
| National Bank Holdings Corp. - Class A | 16613 | 664354 |
| NBT Bancorp, Inc. | 15213 | 649899 |
| OFG Bancorp | 15664 | 627813 |
| Pathward Financial, Inc. | 9007 | 817745 |
| Preferred Bank | 6604 | 579303 |
| Provident Financial Services, Inc. | 66422 | 1397519 |
| S&T Bancorp, Inc. | 15671 | 655204 |
| Tompkins Financial Corp. | 8993 | 689853 |
| Trustmark Corp. | 30184 | 1285537 |
| United Community Banks, Inc./GA | 35785 | 1151203 |
| Webster Financial Corp. | 76074 | 5487218 |
| Westamerica BanCorp | 13501 | 683826 |
| Wintrust Financial Corp. | 33438 | 4817078 |
| Zions Bancorp NA | 75599 | 4330311 |
|  |  | 38237872 |
| **Biotechnology - 5.9%** | **Biotechnology - 5.9%** |  |
| ACADIA Pharmaceuticals, Inc. <sup>(a)</sup> | 54779 | 1345372 |
| Arrowhead Pharmaceuticals, Inc. <sup>(a)</sup> | 11347 | 717925 |
| BioMarin Pharmaceutical, Inc. <sup>(a)</sup> | 100018 | 6174111 |
| Catalyst Pharmaceuticals, Inc. <sup>(a)</sup> | 51465 | 1187812 |
| Exelixis, Inc. <sup>(a)</sup> | 132843 | 5853063 |
| Neurocrine Biosciences, Inc. <sup>(a)</sup> | 55680 | 7363680 |
| Protagonist Therapeutics, Inc. <sup>(a)</sup> | 6927 | 637838 |
| PTC Therapeutics, Inc. <sup>(a)</sup> | 42789 | 2917782 |
| United Therapeutics Corp. <sup>(a)</sup> | 27617 | 13916206 |
|  |  | 40113789 |
| **Broadline Retail - 0.5%** | **Broadline Retail - 0.5%** |  |
| Kohl's Corp. | 29058 | 475680 |
| Macy's, Inc. | 154489 | 3055792 |
|  |  | 3531472 |
| **Building Products - 1.0%** | **Building Products - 1.0%** |  |
| Armstrong World Industries, Inc. | 20847 | 3616954 |
| AZZ, Inc. | 8902 | 1210494 |
| Insteel Industries, Inc. | 20274 | 755815 |
| UFP Industries, Inc. | 11958 | 1230598 |
|  |  | 6813861 |
| **Capital Markets - 3.7%** | **Capital Markets - 3.7%** |  |
| Acadian Asset Management, Inc. | 13783 | 742352 |
| Affiliated Managers Group, Inc. | 17109 | 5238434 |
| BGC Group, Inc. - Class A | 195029 | 1856676 |
| Federated Investors, Inc. | 30265 | 1695143 |
| Janus Henderson Group PLC | 94544 | 4925742 |
| PJT Partners, Inc. - Class A | 5612 | 828780 |
| Stifel Financial Corp. | 95768 | 7091583 |
| StoneX Group, Inc. <sup>(a)</sup> | 22639 | 2886473 |
|  |  | 25265183 |
| **Chemicals - 1.5%** | **Chemicals - 1.5%** |  |
| Balchem Corp. | 12960 | 2351333 |
| Cabot Corp. | 9734 | 741147 |
| Minerals Technologies, Inc. | 10791 | 762060 |
| NewMarket Corp. | 5820 | 3643378 |
| RPM International, Inc. | 12319 | 1405844 |
| Sensient Technologies Corp. | 7149 | 725838 |
| Stepan Co. | 13955 | 710170 |
|  |  | 10339770 |
| **Commercial Services & Supplies - 1.3%** | **Commercial Services & Supplies - 1.3%** |  |
| Brady Corp. - Class A | 27875 | 2573977 |
| Healthcare Services Group, Inc. <sup>(a)</sup> | 34989 | 761711 |
| Interface, Inc. | 23197 | 730474 |
| Liquidity Services, Inc. <sup>(a)</sup> | 20910 | 660965 |
| OPENLANE, Inc. <sup>(a)</sup> | 28975 | 826077 |
| Tetra Tech, Inc. | 53617 | 1921633 |
| UniFirst Corp. | 5383 | 1264036 |
|  |  | 8738873 |
| **Communications Equipment - 3.3%** | **Communications Equipment - 3.3%** |  |
| Ciena Corp. <sup>(a)</sup> | 57512 | 20054435 |
| Digi International, Inc. <sup>(a)</sup> | 14661 | 715750 |
| Harmonic, Inc. <sup>(a)</sup> | 64403 | 684604 |
| NetScout Systems, Inc. <sup>(a)</sup> | 42525 | 1242155 |
|  |  | 22696944 |
| **Construction & Engineering - 1.9%** | **Construction & Engineering - 1.9%** |  |
| Arcosa, Inc. | 18010 | 1935715 |
| Dycom Industries, Inc. <sup>(a)</sup> | 17061 | 7165961 |
| Valmont Industries, Inc. | 8540 | 3927802 |
|  |  | 13029478 |
| **Consumer Discretionary Products - 1.1%** | **Consumer Discretionary Products - 1.1%** |  |
| LCI Industries | 6393 | 851548 |
| Lear Corp. | 5946 | 780412 |
| Somnigroup International, Inc. | 62722 | 5614246 |
|  |  | 7246206 |
| **Consumer Finance - 1.5%** | **Consumer Finance - 1.5%** |  |
| Bread Financial Holdings, Inc. | 10266 | 727449 |
| Encore Capital Group, Inc. <sup>(a)</sup> | 12524 | 855264 |
| Enova International, Inc. <sup>(a)</sup> | 13641 | 1896781 |
| EZCORP, Inc. - Class A <sup>(a)</sup> | 31969 | 848138 |
| FirstCash Holdings, Inc. | 27569 | 5315027 |
| PROG Holdings, Inc. | 22222 | 782437 |
|  |  | 10425096 |
| **Consumer Staple Products - 1.6%** | **Consumer Staple Products - 1.6%** |  |
| BellRing Brands, Inc. <sup>(a)</sup> | 20324 | 373758 |
| Coca-Cola Consolidated, Inc. | 49939 | 10107654 |
| John B Sanfilippo & Son, Inc. | 8801 | 727051 |
|  |  | 11208463 |
| **Consumer Staples Distribution & Retail - 1.0%** | **Consumer Staples Distribution & Retail - 1.0%** |  |
| Andersons, Inc. | 16607 | 1084271 |
| Maplebear, Inc. <sup>(a)</sup> | 116080 | 4354161 |
| PriceSmart, Inc. | 5213 | 806034 |
| United Natural Foods, Inc. <sup>(a)</sup> | 20177 | 770963 |
|  |  | 7015429 |
| **Containers & Packaging - 0.8%** | **Containers & Packaging - 0.8%** |  |
| AptarGroup, Inc. | 5516 | 792705 |
| Crown Holdings, Inc. | 35532 | 4071967 |
| Greif, Inc. - Class A | 10918 | 793411 |
|  |  | 5658083 |
| **Diversified Consumer Services - 1.4%** | **Diversified Consumer Services - 1.4%** |  |
| Adtalem Global Education, Inc. <sup>(a)</sup> | 11414 | 1118572 |
| Frontdoor, Inc. <sup>(a)</sup> | 23407 | 1605018 |
| Graham Holdings Co. - Class B | 2708 | 2852093 |
| Grand Canyon Education, Inc. <sup>(a)</sup> | 9658 | 1536298 |
| Perdoceo Education Corp. | 35874 | 1196398 |
| Strategic Education, Inc. | 8236 | 677658 |
| Stride, Inc. <sup>(a)</sup> | 10196 | 860338 |
|  |  | 9846375 |
| **Diversified Telecommunication Services - 0.1%** | **Diversified Telecommunication Services - 0.1%** |  |
| Iridium Communications, Inc. | 37486 | 897790 |
| **Electric Utilities - 0.4%** | **Electric Utilities - 0.4%** |  |
| Portland General Electric Co. | 53749 | 2900296 |
| **Electrical Equipment - 1.9%** | **Electrical Equipment - 1.9%** |  |
| Acuity, Inc. | 18714 | 5643955 |
| EnerSys | 24005 | 3988431 |
| Nextpower, Inc. - Class A <sup>(a)</sup> | 32178 | 3381908 |
|  |  | 13014294 |
| **Electronic Equipment, Instruments & Components - 1.9%** | **Electronic Equipment, Instruments & Components - 1.9%** |  |
| CTS Corp. | 14938 | 786635 |
| ePlus, Inc. | 12017 | 969291 |
| Flex Ltd. <sup>(a)</sup> | 90989 | 5734127 |
| Knowles Corp. <sup>(a)</sup> | 29274 | 795375 |
| Littelfuse, Inc. | 2562 | 903002 |
| PC Connection, Inc. | 11069 | 674656 |
| Sanmina Corp. <sup>(a)</sup> | 10788 | 1674945 |
| ScanSource, Inc. <sup>(a)</sup> | 15952 | 586715 |
| Vontier Corp. | 18009 | 736928 |
|  |  | 12861674 |
| **Energy Equipment & Services - 3.1%** | **Energy Equipment & Services - 3.1%** |  |
| Bristow Group, Inc. <sup>(a)</sup> | 17854 | 851636 |
| Innovex International, Inc. <sup>(a)</sup> | 29851 | 786574 |
| Oceaneering International, Inc. <sup>(a)</sup> | 33556 | 1191238 |
| TechnipFMC PLC | 244696 | 16225792 |
| Weatherford International PLC | 17629 | 1859154 |
|  |  | 20914394 |
| **Financial Services - 2.3%** | **Financial Services - 2.3%** |  |
| Enact Holdings, Inc. | 70129 | 2934197 |
| Essent Group Ltd. | 62431 | 3798302 |
| EVERTEC, Inc. | 28903 | 818244 |
| Jackson Financial, Inc. - Class A | 24817 | 2716965 |
| MGIC Investment Corp. | 143946 | 3818888 |
| NMI Holdings, Inc. - Class A <sup>(a)</sup> | 47496 | 1867068 |
|  |  | 15953664 |
| **Food Products - 1.0%** | **Food Products - 1.0%** |  |
| Cal-Maine Foods, Inc. | 23798 | 2073044 |
| Fresh Del Monte Produce, Inc. | 17459 | 749515 |
| Marzetti Co. | 9522 | 1564846 |
| Pilgrim's Pride Corp. | 52896 | 2282991 |
|  |  | 6670396 |
| **Gas Utilities - 1.0%** | **Gas Utilities - 1.0%** |  |
| National Fuel Gas Co. | 53663 | 4884943 |
| Northwest Natural Holding Co. | 14301 | 758525 |
| Southwest Gas Holdings, Inc. | 16181 | 1426679 |
|  |  | 7070147 |
| **Ground Transportation - 0.5%** | **Ground Transportation - 0.5%** |  |
| Landstar System, Inc. | 5035 | 820453 |
| Ryder System, Inc. | 7740 | 1714874 |
| Schneider National, Inc. - Class B | 24662 | 699908 |
|  |  | 3235235 |
| **Health Care - 1.8%** | **Health Care - 1.8%** |  |
| Globus Medical, Inc. - Class A <sup>(a)</sup> | 66143 | 6314011 |
| Haemonetics Corp. <sup>(a)</sup> | 30215 | 1913214 |
| Medpace Holdings, Inc. <sup>(a)</sup> | 8644 | 3905013 |
|  |  | 12132238 |
| **Health Care Equipment & Supplies - 0.9%** | **Health Care Equipment & Supplies - 0.9%** |  |
| Merit Medical Systems, Inc. <sup>(a)</sup> | 7649 | 590350 |
| Omnicell, Inc. <sup>(a)</sup> | 15415 | 633556 |
| Penumbra, Inc. <sup>(a)</sup> | 14654 | 5046691 |
|  |  | 6270597 |
| **Health Care Providers & Services - 2.9%** | **Health Care Providers & Services - 2.9%** |  |
| Addus HomeCare Corp. <sup>(a)</sup> | 5787 | 599128 |
| Concentra Group Holdings Parent, Inc. | 50468 | 1209213 |
| CorVel Corp. <sup>(a)</sup> | 9501 | 490062 |
| Encompass Health Corp. | 36140 | 3898783 |
| Ensign Group, Inc. | 8616 | 1845289 |
| National HealthCare Corp. | 8238 | 1346913 |
| Option Care Health, Inc. <sup>(a)</sup> | 19929 | 646895 |
| Pediatrix Medical Group, Inc. <sup>(a)</sup> | 45468 | 902540 |
| Privia Health Group, Inc. <sup>(a)</sup> | 26998 | 641203 |
| Progyny, Inc. <sup>(a)</sup> | 43009 | 760829 |
| Select Medical Holdings Corp. | 43417 | 649952 |
| Tenet Healthcare Corp. <sup>(a)</sup> | 29785 | 7130231 |
|  |  | 20121038 |
| **Hotels, Restaurants & Leisure - 1.6%** | **Hotels, Restaurants & Leisure - 1.6%** |  |
| Boyd Gaming Corp. | 38009 | 3163489 |
| Brinker International, Inc. <sup>(a)</sup> | 9956 | 1475479 |
| Monarch Casino & Resort, Inc. | 10161 | 976472 |
| Red Rock Resorts, Inc. - Class A | 17691 | 1071190 |
| Texas Roadhouse, Inc. | 14917 | 2727872 |
| Travel + Leisure Co. | 18681 | 1376790 |
|  |  | 10791292 |
| **Household Durables - 3.2%** | **Household Durables - 3.2%** |  |
| Cavco Industries, Inc. <sup>(a)</sup> | 2413 | 1392928 |
| Champion Homes, Inc. <sup>(a)</sup> | 16516 | 1543916 |
| Ethan Allen Interiors, Inc. | 26815 | 610846 |
| Green Brick Partners, Inc. <sup>(a)</sup> | 11749 | 865431 |
| KB Home | 14466 | 919748 |
| La-Z-Boy, Inc. | 16827 | 601060 |
| Leggett & Platt, Inc. | 61780 | 721590 |
| M/I Homes, Inc. <sup>(a)</sup> | 13741 | 1953421 |
| Taylor Morrison Home Corp. <sup>(a)</sup> | 61050 | 4022585 |
| Toll Brothers, Inc. | 51304 | 8067041 |
| Tri Pointe Homes, Inc. <sup>(a)</sup> | 22282 | 1031657 |
|  |  | 21730223 |
| **Household Products - 0.3%** | **Household Products - 0.3%** |  |
| Central Garden & Pet Co. - Class A <sup>(a)</sup> | 32289 | 1115262 |
| WD-40 Co. | 3215 | 765813 |
|  |  | 1881075 |
| **Insurance - 3.4%** | **Insurance - 3.4%** |  |
| Genworth Financial, Inc. <sup>(a)</sup> | 215703 | 1820533 |
| Hanover Insurance Group, Inc. | 22242 | 4017572 |
| HCI Group, Inc. | 7076 | 1248348 |
| Horace Mann Educators Corp. | 20367 | 886168 |
| Mercury General Corp. | 22695 | 2055713 |
| RenaissanceRe Holdings Ltd. | 24834 | 7511292 |
| Safety Insurance Group, Inc. | 8446 | 655663 |
| Selective Insurance Group, Inc. | 34970 | 2938879 |
| SiriusPoint Ltd. <sup>(a)</sup> | 58664 | 1240157 |
| United Fire Group, Inc. | 17923 | 696488 |
|  |  | 23070813 |
| **Interactive Media & Services - 0.3%** | **Interactive Media & Services - 0.3%** |  |
| Cargurus, Inc. <sup>(a)</sup> | 17370 | 533259 |
| QuinStreet, Inc. <sup>(a)</sup> | 45584 | 534245 |
| Yelp, Inc. <sup>(a)</sup> | 21794 | 485788 |
| Ziff Davis, Inc. <sup>(a)</sup> | 18831 | 509943 |
|  |  | 2063235 |
| **IT Services - 0.1%** | **IT Services - 0.1%** |  |
| Grid Dynamics Holdings, Inc. <sup>(a)</sup> | 68120 | 459810 |
| **Machinery - 8.6%** | **Machinery - 8.6%** |  |
| Alamo Group, Inc. | 3766 | 804154 |
| Crane Co. | 23110 | 4634248 |
| Donaldson Co., Inc. | 46751 | 4336623 |
| ESCO Technologies, Inc. | 11773 | 3264535 |
| Flowserve Corp. | 70161 | 6210652 |
| Franklin Electric Co., Inc. | 17625 | 1755802 |
| ITT, Inc. | 21607 | 4373473 |
| Lincoln Electric Holdings, Inc. | 25257 | 7250022 |
| Lindsay Corp. | 5539 | 746103 |
| Mueller Industries, Inc. | 73067 | 8618983 |
| Mueller Water Products, Inc. - Class A | 69396 | 2077022 |
| Proto Labs, Inc. <sup>(a)</sup> | 12608 | 782705 |
| RBC Bearings, Inc. <sup>(a)</sup> | 12042 | 6935229 |
| The Timken Co. | 19360 | 2098237 |
| Watts Water Technologies, Inc. - Class A | 14489 | 4763114 |
|  |  | 58650902 |
| **Marine Transportation - 0.3%** | **Marine Transportation - 0.3%** |  |
| Kirby Corp. <sup>(a)</sup> | 6020 | 781396 |
| Matson, Inc. | 6857 | 1139153 |
|  |  | 1920549 |
| **Media - 1.3%** | **Media - 1.3%** |  |
| New York Times Co. - Class A | 97788 | 7802505 |
| Scholastic Corp. | 23285 | 809619 |
|  |  | 8612124 |
| **Metals & Mining - 1.8%** | **Metals & Mining - 1.8%** |  |
| Alcoa Corp. | 141150 | 8762592 |
| Kaiser Aluminum Corp. | 6126 | 797238 |
| Reliance, Inc. | 9818 | 3098953 |
|  |  | 12658783 |
| **Multi-Utilities - 0.6%** | **Multi-Utilities - 0.6%** |  |
| Avista Corp. | 32090 | 1303496 |
| Black Hills Corp. | 34415 | 2535009 |
|  |  | 3838505 |
| **Oil, Gas & Consumable Fuels - 5.0%** | **Oil, Gas & Consumable Fuels - 5.0%** |  |
| Antero Midstream Corp. | 223590 | 5026303 |
| Antero Resources Corp. <sup>(a)</sup> | 194863 | 7172907 |
| California Resources Corp. | 40740 | 2397142 |
| Chord Energy Corp. | 15057 | 1631727 |
| DT Midstream, Inc. | 24881 | 3454478 |
| HF Sinclair Corp. | 84442 | 4222944 |
| Par Pacific Holdings, Inc. <sup>(a)</sup> | 16595 | 708109 |
| Permian Resources Corp. | 425234 | 7777530 |
| REX American Resources Corp. <sup>(a)</sup> | 19953 | 709529 |
| Talos Energy, Inc. <sup>(a)</sup> | 59972 | 734657 |
|  |  | 33835326 |
| **Paper & Forest Products - 0.1%** | **Paper & Forest Products - 0.1%** |  |
| Sylvamo Corp. | 13322 | 616809 |
| **Passenger Airlines - 0.3%** | **Passenger Airlines - 0.3%** |  |
| SkyWest, Inc. <sup>(a)</sup> | 14015 | 1458681 |
| Sun Country Airlines Holdings, Inc. <sup>(a)</sup> | 45030 | 886191 |
|  |  | 2344872 |
| **Pharmaceuticals - 0.9%** | **Pharmaceuticals - 0.9%** |  |
| Collegium Pharmaceutical, Inc. <sup>(a)</sup> | 13714 | 571462 |
| Harmony Biosciences Holdings, Inc. <sup>(a)</sup> | 34025 | 971073 |
| Innoviva, Inc. <sup>(a)</sup> | 44135 | 1013340 |
| Jazz Pharmaceuticals PLC <sup>(a)</sup> | 10285 | 1954356 |
| Phibro Animal Health Corp. - Class A | 16344 | 892219 |
| Supernus Pharmaceuticals, Inc. <sup>(a)</sup> | 14083 | 770763 |
|  |  | 6173213 |
| **Professional Services - 1.8%** | **Professional Services - 1.8%** |  |
| CACI International, Inc. - Class A <sup>(a)</sup> | 9610 | 5863734 |
| ExlService Holdings, Inc. <sup>(a)</sup> | 26542 | 829437 |
| Genpact Ltd. | 65603 | 2605751 |
| Korn Ferry | 12870 | 806563 |
| Maximus, Inc. | 29456 | 2227168 |
|  |  | 12332653 |
| **Real Estate Management & Development - 1.7%** | **Real Estate Management & Development - 1.7%** |  |
| Jones Lang LaSalle, Inc. <sup>(a)</sup> | 30038 | 9478491 |
| St Joe Co. | 27899 | 2013471 |
|  |  | 11491962 |
| **Semiconductors & Semiconductor Equipment - 2.0%** | **Semiconductors & Semiconductor Equipment - 2.0%** |  |
| Amkor Technology, Inc. | 15041 | 719261 |
| Cirrus Logic, Inc. <sup>(a)</sup> | 26576 | 3750405 |
| Diodes, Inc. <sup>(a)</sup> | 13260 | 904730 |
| Kulicke & Soffa Industries, Inc. | 13778 | 960602 |
| MKS, Inc. | 6038 | 1476049 |
| Onto Innovation, Inc. <sup>(a)</sup> | 8099 | 1748493 |
| Photronics, Inc. <sup>(a)</sup> | 17782 | 665580 |
| Rambus, Inc. <sup>(a)</sup> | 15313 | 1526094 |
| Semtech Corp. <sup>(a)</sup> | 12000 | 1082640 |
| Universal Display Corp. | 5626 | 600238 |
|  |  | 13434092 |
| **Software - 1.2%** | **Software - 1.2%** |  |
| A10 Networks, Inc. | 37235 | 717146 |
| ACI Worldwide, Inc. <sup>(a)</sup> | 16143 | 640554 |
| Adeia, Inc. | 51378 | 1063011 |
| Clear Secure, Inc. - Class A | 16416 | 798474 |
| Dolby Laboratories, Inc. - Class A | 9868 | 656913 |
| Dropbox, Inc. - Class A <sup>(a)</sup> | 23867 | 596437 |
| Guidewire Software, Inc. <sup>(a)</sup> | 5054 | 734447 |
| InterDigital, Inc. | 1871 | 685778 |
| LiveRamp Holdings, Inc. <sup>(a)</sup> | 22601 | 614069 |
| Qualys, Inc. <sup>(a)</sup> | 4460 | 412416 |
| Sprinklr, Inc. - Class A <sup>(a)</sup> | 84526 | 491941 |
| Teradata Corp. <sup>(a)</sup> | 32449 | 1021819 |
|  |  | 8433005 |
| **Specialty Retail - 3.4%** | **Specialty Retail - 3.4%** |  |
| Abercrombie & Fitch Co. - Class A <sup>(a)</sup> | 18427 | 1802161 |
| AutoNation, Inc. <sup>(a)</sup> | 15489 | 3022833 |
| Bath & Body Works, Inc. | 34007 | 773999 |
| Buckle, Inc. | 27625 | 1479319 |
| Five Below, Inc. <sup>(a)</sup> | 29443 | 6581394 |
| Gap, Inc. | 140888 | 3950499 |
| Group 1 Automotive, Inc. | 2638 | 859302 |
| Sally Beauty Holdings, Inc. <sup>(a)</sup> | 42859 | 688744 |
| Upbound Group, Inc. | 36886 | 791205 |
| Urban Outfitters, Inc. <sup>(a)</sup> | 49846 | 3299805 |
|  |  | 23249261 |
| **Textiles, Apparel & Luxury Goods - 0.1%** | **Textiles, Apparel & Luxury Goods - 0.1%** |  |
| G-III Apparel Group Ltd. | 21251 | 650068 |
| **Tobacco - 0.1%** | **Tobacco - 0.1%** |  |
| Universal Corp. | 12232 | 657225 |
| **Trading Companies & Distributors - 1.3%** | **Trading Companies & Distributors - 1.3%** |  |
| Applied Industrial Technologies, Inc. | 15106 | 4268654 |
| Core & Main, Inc. - Class A <sup>(a)</sup> | 34638 | 1875994 |
| DNOW, Inc. <sup>(a)</sup> | 60712 | 715187 |
| Rush Enterprises, Inc. - Class A | 31786 | 2255852 |
|  |  | 9115687 |
| **Wireless Telecommunication Services - 0.2%** | **Wireless Telecommunication Services - 0.2%** |  |
| Telephone and Data Systems, Inc. | 37803 | 1691684 |
| **TOTAL COMMON STOCKS** (Cost $557,081,256) | **TOTAL COMMON STOCKS** (Cost $557,081,256) | 643160042 |
| **REAL ESTATE INVESTMENT TRUSTS - 5.4%** | **Shares**  | **Value**  |
| **Financial Services - 1.2%** | **Financial Services - 1.2%** |  |
| Annaly Capital Management, Inc. | 356871 | 8293682 |
| **Health Care REITs - 1.2%** | **Health Care REITs - 1.2%** |  |
| LTC Properties, Inc. | 19105 | 758086 |
| Omega Healthcare Investors, Inc. | 123017 | 5938031 |
| Sabra Health Care REIT, Inc. | 34589 | 710804 |
| Universal Health Realty Income Trust | 15616 | 681170 |
|  |  | 8088091 |
| **Hotel & Resort REITs - 0.3%** | **Hotel & Resort REITs - 0.3%** |  |
| DiamondRock Hospitality Co. | 95699 | 960818 |
| Sunstone Hotel Investors, Inc. | 72411 | 671974 |
|  |  | 1632792 |
| **Industrial REITs - 1.2%** | **Industrial REITs - 1.2%** |  |
| EastGroup Properties, Inc. | 10796 | 2119363 |
| First Industrial Realty Trust, Inc. | 68468 | 4323069 |
| LXP Industrial Trust | 17286 | 856694 |
| STAG Industrial, Inc. | 19226 | 754044 |
|  |  | 8053170 |
| **Residential REITs - 0.4%** | **Residential REITs - 0.4%** |  |
| American Homes 4 Rent - Class A | 68991 | 2069730 |
| Centerspace | 10259 | 645291 |
|  |  | 2715021 |
| **Retail REITs - 0.9%** | **Retail REITs - 0.9%** |  |
| Brixmor Property Group, Inc. | 42206 | 1277576 |
| Getty Realty Corp. | 23227 | 762310 |
| NNN REIT, Inc. | 27865 | 1262842 |
| Phillips Edison & Co., Inc. | 18907 | 742667 |
| Saul Centers, Inc. | 21037 | 716941 |
| Tanger, Inc. | 19787 | 733306 |
| Whitestone REIT | 49000 | 744310 |
|  |  | 6239952 |
| **Specialized REITs - 0.2%** | **Specialized REITs - 0.2%** |  |
| EPR Properties | 13283 | 789143 |
| Rayonier, Inc. | 35540 | 763754 |
|  |  | 1552897 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $33,742,218) | **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $33,742,218) | 36575605 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 0.5%** | **Shares**  | **Value**  |
| First American Government Obligations Fund - Class X, 3.60% <sup>(b)</sup> | 3337023 | 3337023 |
| **TOTAL MONEY MARKET FUNDS** (Cost $3,337,023) | **TOTAL MONEY MARKET FUNDS** (Cost $3,337,023) | 3337023 |
| **TOTAL INVESTMENTS - 100.0% (**Cost $594,160,497**)** | **TOTAL INVESTMENTS - 100.0% (**Cost $594,160,497**)** | 683072670 |
| Other Assets in Excess of Liabilities - 0.0% <sup>(c)</sup> | Other Assets in Excess of Liabilities - 0.0% <sup>(c)</sup> | 21974 |
| **TOTAL NET ASSETS - 100.0%** |  | $683094644 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

---

| |
|:---|
| PLC - Public Limited Company |
| REIT - Real Estate Investment Trust |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

(a) Non-income producing security.

(b) The rate shown represents the 7-day annualized yield as of February 28, 2026.

(c) Represents less than 0.05% of net assets.

------

#### Summary of Fair Value Disclosure as of February 28, 2026 (Unaudited)
Horizon Multi-Factor Small/Mid Cap Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $643160042 | $– | $– | $643160042 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts | 36575605 | – | – | 36575605 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 3337023 | – | – | 3337023 |
| Total Investments | $683072670 | $– | $– | $683072670 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Horizon Funds

- **b. Investment Company Act file number:** 811-23063

- **c. CIK number of Registrant:** 0001643174

- **d. LEI of Registrant:** 549300Q2NFSH0QP87Y93

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

  - **Street Address 1:** 6210 Ardrey Kell Road

  - **City:** Charlotte

  - **State:** NC

  - **Foreign country:** US

  - **Zip / Postal Code:** 28277

  - **Telephone number:** 866-371-2399

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

- **a. Name of Series:** Horizon Multi-Factor Small/Mid Cap Fund

- **b. EDGAR series identifier (if any):** S000079220

- **c. LEI of Series:** 549300QHLHDVQOPSLA91

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

- **a. Date of fiscal year-end:** 2026-11-30

- **b. Date as of which information is reported:** 2026-02-28

**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:** $683389045.58

**Total Liabilities:** $700779.05

**Net Assets:** $682688266.53

**Cash Not Reported:** $370147.71

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000240165 | -0.32%               | 4.84%                | 4.79%                |
| Class ID C000240166 | -0.34%               | 4.82%                | 4.77%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $4300509.21              | $-6839895.09                               |
| Month 2  | $0.00                    | $29585083.87                               |
| Month 3  | $9099559.75              | $21758610.27                               |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ATI Inc                        | ATI Inc                                    | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |     55375 | NS      | $9058796.25   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrowhead Pharmaceuticals Inc  | Arrowhead Pharmaceuticals Inc              | CUSIP: 04280A100<br>LEI: 549300O3CSB8T7OZ3D66 | Long             | EC               | CORP              | US        |     11347 | NS      | $717924.69    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Cabot Corp                     | Cabot Corp                                 | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Long             | EC               | CORP              | US        |      9734 | NS      | $741146.76    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc         | CACI International Inc                     | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |      9610 | NS      | $5863733.70   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Cal-Maine Foods Inc            | Cal-Maine Foods Inc                        | CUSIP: 128030202<br>LEI: 549300NHE5WMIEIEMF53 | Long             | EC               | CORP              | US        |     23798 | NS      | $2073043.78   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| California Resources Corp      | California Resources Corp                  | CUSIP: 13057Q305<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | EC               | CORP              | US        |     40740 | NS      | $2397141.60   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| FNB Corp/PA                    | FNB Corp/PA                                | CUSIP: 302520101<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | EC               | CORP              | US        |    127548 | NS      | $2167040.52   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Below Inc                 | Five Below Inc                             | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |     29443 | NS      | $6581393.79   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowserve Corp                 | Flowserve Corp                             | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |     70161 | NS      | $6210651.72   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Grid Dynamics Holdings Inc     | Grid Dynamics Holdings Inc                 | CUSIP: 39813G109<br>LEI: 9845007E77EEC65AZE29 | Long             | EC               | CORP              | US        |     68120 | NS      | $459810.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Group 1 Automotive Inc         | Group 1 Automotive Inc                     | CUSIP: 398905109<br>LEI: 549300US8QAZJLWYAF63 | Long             | EC               | CORP              | US        |      2638 | NS      | $859302.12    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Guidewire Software Inc         | Guidewire Software Inc                     | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |      5054 | NS      | $734447.28    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Haemonetics Corp               | Haemonetics Corp                           | CUSIP: 405024100<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | EC               | CORP              | US        |     30215 | NS      | $1913213.80   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc                        | MKS Inc                                    | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |      6038 | NS      | $1476049.48   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Monarch Casino & Resort Inc    | Monarch Casino & Resort Inc                | CUSIP: 609027107<br>LEI: 549300AK5FF7KY11V997 | Long             | EC               | CORP              | US        |     10161 | NS      | $976472.10    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries Inc         | Mueller Industries Inc                     | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |     73067 | NS      | $8618983.32   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Water Products Inc     | Mueller Water Products Inc                 | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |     69396 | NS      | $2077022.28   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| NBT Bancorp Inc                | NBT Bancorp Inc                            | CUSIP: 628778102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15213 | NS      | $649899.36    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| NMI Holdings Inc               | NMI Holdings Inc                           | CUSIP: 629209305<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | EC               | CORP              | US        |     47496 | NS      | $1867067.76   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank Holdings Corp    | National Bank Holdings Corp                | CUSIP: 633707104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16613 | NS      | $664353.87    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| National HealthCare Corp       | National HealthCare Corp                   | CUSIP: 635906100<br>LEI: 254900PTS11LS1JS2752 | Long             | EC               | CORP              | US        |      8238 | NS      | $1346913.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| National Fuel Gas Co           | National Fuel Gas Co                       | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     53663 | NS      | $4884942.89   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT Inc                   | NNN REIT Inc                               | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |     27865 | NS      | $1262841.80   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| NetScout Systems Inc           | NetScout Systems Inc                       | CUSIP: 64115T104<br>LEI: 5493005HZXZ3SPNVCV76 | Long             | EC               | CORP              | US        |     42525 | NS      | $1242155.25   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc     | Neurocrine Biosciences Inc                 | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |     55680 | NS      | $7363680.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Times Co/The          | New York Times Co/The                      | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |     97788 | NS      | $7802504.52   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| NewMarket Corp                 | NewMarket Corp                             | CUSIP: 651587107<br>LEI: 54930082CG88ERDREQ47 | Long             | EC               | CORP              | US        |      5820 | NS      | $3643378.20   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Nextpower Inc                  | Nextpower Inc                              | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32178 | NS      | $3381907.80   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwest Natural Holding Co   | Northwest Natural Holding Co               | CUSIP: 66765N105<br>LEI: 254900PSJL6ZEC8FR782 | Long             | EC               | CORP              | US        |     14301 | NS      | $758525.04    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Flex Ltd                       | Flex Ltd                                   | CUSIP: N/A<br>LEI: 549300EAQH74YHD07T53       | Long             | EC               | CORP              | US        |     90989 | NS      | $5734126.78   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Amkor Technology Inc           | Amkor Technology Inc                       | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |     15041 | NS      | $719260.62    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Andersons Inc/The              | Andersons Inc/The                          | CUSIP: 034164103<br>LEI: L38MWB8MVRFV7HVJPU11 | Long             | EC               | CORP              | US        |     16607 | NS      | $1084271.03   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management Inc  | Annaly Capital Management Inc              | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |    356871 | NS      | $8293682.04   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Midstream Corp          | Antero Midstream Corp                      | CUSIP: 03676B102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    223590 | NS      | $5026303.20   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Upbound Group Inc              | Upbound Group Inc                          | CUSIP: 76009N100<br>LEI: 529900QUHE15UQNCCJ63 | Long             | EC               | CORP              | US        |     36886 | NS      | $791204.70    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| UniFirst Corp/MA               | UniFirst Corp/MA                           | CUSIP: 904708104<br>LEI: 5493003XBTNWBC8UK019 | Long             | EC               | CORP              | US        |      5383 | NS      | $1264036.06   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| United Community Banks Inc/GA  | United Community Banks Inc/GA              | CUSIP: 90984P303<br>LEI: 549300GVW0FV66X3U703 | Long             | EC               | CORP              | US        |     35785 | NS      | $1151203.45   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| United Fire Group Inc          | United Fire Group Inc                      | CUSIP: 910340108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17923 | NS      | $696487.78    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| United Natural Foods Inc       | United Natural Foods Inc                   | CUSIP: 911163103<br>LEI: 549300GKGW6WPZ282D40 | Long             | EC               | CORP              | US        |     20177 | NS      | $770963.17    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp       | United Therapeutics Corp                   | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |     27617 | NS      | $13916206.30  | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                 | EPR Properties                             | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |     13283 | NS      | $789143.03    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Corp/VA              | Universal Corp/VA                          | CUSIP: 913456109<br>LEI: 549300BZXZ66F6DTIF20 | Long             | EC               | CORP              | US        |     12232 | NS      | $657225.36    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Display Corp         | Universal Display Corp                     | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5626 | NS      | $600237.94    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Realty Income | Universal Health Realty Income Trust       | CUSIP: 91359E105<br>LEI: 549300L4MWZL4IH6H172 | Long             | EC               | CORP              | US        |     15616 | NS      | $681169.92    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Outfitters Inc           | Urban Outfitters Inc                       | CUSIP: 917047102<br>LEI: 549300N3DUFR5U6NRN38 | Long             | EC               | CORP              | US        |     49846 | NS      | $3299805.20   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries Inc         | Valmont Industries Inc                     | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |      8540 | NS      | $3927802.20   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corp                   | Visteon Corp                               | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |      6496 | NS      | $621472.32    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Encore Capital Group Inc       | Encore Capital Group Inc                   | CUSIP: 292554102<br>LEI: 5493000UVC6H49CIH830 | Long             | EC               | CORP              | US        |     12524 | NS      | $855263.96    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| EnerSys                        | EnerSys                                    | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |     24005 | NS      | $3988430.75   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Enova International Inc        | Enova International Inc                    | CUSIP: 29357K103<br>LEI: 549300O8XOCQSB49UO63 | Long             | EC               | CORP              | US        |     13641 | NS      | $1896781.05   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Ensign Group Inc/The           | Ensign Group Inc/The                       | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |      8616 | NS      | $1845288.72   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream Inc               | DT Midstream Inc                           | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24881 | NS      | $3454478.04   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ePlus Inc                      | ePlus Inc                                  | CUSIP: 294268107<br>LEI: 529900FFY8AAFJ21NE91 | Long             | EC               | CORP              | US        |     12017 | NS      | $969291.22    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ESCO Technologies Inc          | ESCO Technologies Inc                      | CUSIP: 296315104<br>LEI: 5493007JJLP5MEWVDH10 | Long             | EC               | CORP              | US        |     11773 | NS      | $3264535.17   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| DiamondRock Hospitality Co     | DiamondRock Hospitality Co                 | CUSIP: 252784301<br>LEI: 529900KKD4BPVBUAQ734 | Long             | EC               | CORP              | US        |     95699 | NS      | $960817.96    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Digi International Inc         | Digi International Inc                     | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |     14661 | NS      | $715750.02    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ethan Allen Interiors Inc      | Ethan Allen Interiors Inc                  | CUSIP: 297602104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26815 | NS      | $610845.70    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERTEC Inc                    | EVERTEC Inc                                | CUSIP: 30040P103<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |     28903 | NS      | $818243.93    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Diodes Inc                     | Diodes Inc                                 | CUSIP: 254543101<br>LEI: 549300XP2X1ARVH3BX23 | Long             | EC               | CORP              | US        |     13260 | NS      | $904729.80    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Dolby Laboratories Inc         | Dolby Laboratories Inc                     | CUSIP: 25659T107<br>LEI: 549300X04FB2QPCJ5J24 | Long             | EC               | CORP              | US        |      9868 | NS      | $656912.76    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Donaldson Co Inc               | Donaldson Co Inc                           | CUSIP: 257651109<br>LEI: OZE6KXY9QQPR8EJ8WL20 | Long             | EC               | CORP              | US        |     46751 | NS      | $4336622.76   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Dropbox Inc                    | Dropbox Inc                                | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |     23867 | NS      | $596436.33    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| DNOW Inc                       | DNOW Inc                                   | CUSIP: 67011P100<br>LEI: 549300AVH5SOCFVVDW91 | Long             | EC               | CORP              | US        |     60712 | NS      | $715187.36    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis Inc                   | Exelixis Inc                               | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |    132843 | NS      | $5853062.58   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| ExlService Holdings Inc        | ExlService Holdings Inc                    | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |     26542 | NS      | $829437.50    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Vontier Corp                   | Vontier Corp                               | CUSIP: 928881101<br>LEI: 549300VVSQLG4P5K4639 | Long             | EC               | CORP              | US        |     18009 | NS      | $736928.28    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| WD-40 Co                       | WD-40 Co                                   | CUSIP: 929236107<br>LEI: 549300UZHTN0CNKBOB19 | Long             | EC               | CORP              | US        |      3215 | NS      | $765813.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| EZCORP Inc                     | EZCORP Inc                                 | CUSIP: 302301106<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | EC               | CORP              | US        |     31969 | NS      | $848137.57    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Hermes Inc           | Federated Hermes Inc                       | CUSIP: 314211103<br>LEI: R05X5UQ874RGFF7HHD84 | Long             | EC               | CORP              | US        |     30265 | NS      | $1695142.65   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Watts Water Technologies Inc   | Watts Water Technologies Inc               | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |     14489 | NS      | $4763113.86   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp         | Webster Financial Corp                     | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |     76074 | NS      | $5487217.62   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Westamerica BanCorp            | Westamerica BanCorp                        | CUSIP: 957090103<br>LEI: 984500CF4F8115C11D96 | Long             | EC               | CORP              | US        |     13501 | NS      | $683825.65    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Whitestone REIT                | Whitestone REIT                            | CUSIP: 966084204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     49000 | NS      | $744310.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   2966875 | NS      | $2966874.89   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| First BanCorp/Puerto Rico      | First BanCorp/Puerto Rico                  | CUSIP: 318672706<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |     71240 | NS      | $1505301.20   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| AZZ Inc                        | AZZ Inc                                    | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |      8902 | NS      | $1210493.96   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Bread Financial Holdings Inc   | Bread Financial Holdings Inc               | CUSIP: 018581108<br>LEI: 549300G8S4PO686J7H97 | Long             | EC               | CORP              | US        |     10266 | NS      | $727448.76    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoNation Inc                 | AutoNation Inc                             | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15489 | NS      | $3022833.24   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT Inc                        | ITT Inc                                    | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |     21607 | NS      | $4373472.87   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corp                    | Avista Corp                                | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |     32090 | NS      | $1303495.80   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Balchem Corp                   | Balchem Corp                               | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |     12960 | NS      | $2351332.80   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| BankUnited Inc                 | BankUnited Inc                             | CUSIP: 06652K103<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | EC               | CORP              | US        |     42120 | NS      | $1967004.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Banner Corp                    | Banner Corp                                | CUSIP: 06652V208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17196 | NS      | $1011984.60   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bancorp        | First Financial Bancorp                    | CUSIP: 320209109<br>LEI: 549300D3F5B3EZMY7P77 | Long             | EC               | CORP              | US        |     24626 | NS      | $691251.82    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust  | First Industrial Realty Trust Inc          | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     68468 | NS      | $4323069.52   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstCash Holdings Inc         | FirstCash Holdings Inc                     | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27569 | NS      | $5315027.51   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC Investment Corp           | MGIC Investment Corp                       | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |    143946 | NS      | $3818887.38   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury General Corp           | Mercury General Corp                       | CUSIP: 589400100<br>LEI: 5493001Q9EXPCEL4W527 | Long             | EC               | CORP              | US        |     22695 | NS      | $2055713.10   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Merit Medical Systems Inc      | Merit Medical Systems Inc                  | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |      7649 | NS      | $590349.82    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Minerals Technologies Inc      | Minerals Technologies Inc                  | CUSIP: 603158106<br>LEI: 549300D3I1QU67GP6403 | Long             | EC               | CORP              | US        |     10791 | NS      | $762060.42    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Essent Group Ltd               | Essent Group Ltd                           | CUSIP: N/A<br>LEI: 254900QUO860OUT6ZF83       | Long             | EC               | CORP              | BM        |     62431 | NS      | $3798302.04   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International PLC  | Weatherford International PLC              | CUSIP: N/A<br>LEI: 529900LPBDSCQDJKHQ39       | Long             | EC               | CORP              | US        |     17629 | NS      | $1859154.34   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Bath & Body Works Inc          | Bath & Body Works Inc                      | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |     34007 | NS      | $773999.32    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BellRing Brands Inc            | BellRing Brands Inc                        | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |     20324 | NS      | $373758.36    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BGC Group Inc                  | BGC Group Inc                              | CUSIP: 088929104<br>LEI: 2549001IGRCG4F0RLD36 | Long             | EC               | CORP              | US        |    195029 | NS      | $1856676.08   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| BioMarin Pharmaceutical Inc    | BioMarin Pharmaceutical Inc                | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |    100018 | NS      | $6174111.14   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| PriceSmart Inc                 | PriceSmart Inc                             | CUSIP: 741511109<br>LEI: 549300JVYOSTGVSDZS46 | Long             | EC               | CORP              | US        |      5213 | NS      | $806034.06    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Privia Health Group Inc        | Privia Health Group Inc                    | CUSIP: 74276R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26998 | NS      | $641202.50    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Saul Centers Inc               | Saul Centers Inc                           | CUSIP: 804395101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21037 | NS      | $716940.96    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| A10 Networks Inc               | A10 Networks Inc                           | CUSIP: 002121101<br>LEI: 549300UQD4IWUML81Q35 | Long             | EC               | CORP              | US        |     37235 | NS      | $717146.10    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Abercrombie & Fitch Co         | Abercrombie & Fitch Co                     | CUSIP: 002896207<br>LEI: 5493000J7LL72TOGT983 | Long             | EC               | CORP              | US        |     18427 | NS      | $1802160.60   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ACADIA Pharmaceuticals Inc     | ACADIA Pharmaceuticals Inc                 | CUSIP: 004225108<br>LEI: 529900O3044NO0PEA039 | Long             | EC               | CORP              | US        |     54779 | NS      | $1345372.24   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| International Bancshares Corp  | International Bancshares Corp              | CUSIP: 459044103<br>LEI: 549300Y16R531AU8TX77 | Long             | EC               | CORP              | US        |     20172 | NS      | $1353742.92   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Iridium Communications Inc     | Iridium Communications Inc                 | CUSIP: 46269C102<br>LEI: 549300U620NVQ4J1CT96 | Long             | EC               | CORP              | US        |     37486 | NS      | $897789.70    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ACI Worldwide Inc              | ACI Worldwide Inc                          | CUSIP: 004498101<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | EC               | CORP              | US        |     16143 | NS      | $640554.24    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Acuity Inc                     | Acuity Inc                                 | CUSIP: 00508Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18714 | NS      | $5643955.26   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corp               | Black Hills Corp                           | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |     34415 | NS      | $2535008.90   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| BorgWarner Inc                 | BorgWarner Inc                             | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |     90192 | NS      | $5192353.44   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Addus HomeCare Corp            | Addus HomeCare Corp                        | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |      5787 | NS      | $599128.11    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Adeia Inc                      | Adeia Inc                                  | CUSIP: 00676P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     51378 | NS      | $1063010.82   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Covista Inc                    | Covista Inc                                | CUSIP: 00737L103<br>LEI: 549300Z467EZLMODV621 | Long             | EC               | CORP              | US        |     11414 | NS      | $1118572.00   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Affiliated Managers Group Inc  | Affiliated Managers Group Inc              | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |     17109 | NS      | $5238433.62   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamo Group Inc                | Alamo Group Inc                            | CUSIP: 011311107<br>LEI: 54930080C93RVZRSDV26 | Long             | EC               | CORP              | US        |      3766 | NS      | $804153.98    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcoa Corp                     | Alcoa Corp                                 | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |    141150 | NS      | $8762592.00   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Boyd Gaming Corp               | Boyd Gaming Corp                           | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |     38009 | NS      | $3163489.07   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Brady Corp                     | Brady Corp                                 | CUSIP: 104674106<br>LEI: 549300G2LEQOFQC8GY34 | Long             | EC               | CORP              | US        |     27875 | NS      | $2573977.50   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Jackson Financial Inc          | Jackson Financial Inc                      | CUSIP: 46817M107<br>LEI: 213800WXW2KG1N4CO374 | Long             | EC               | CORP              | US        |     24817 | NS      | $2716965.16   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| LTC Properties Inc             | LTC Properties Inc                         | CUSIP: 502175102<br>LEI: 549300NRZP8IJG2KY677 | Long             | EC               | CORP              | US        |     19105 | NS      | $758086.40    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Brinker International Inc      | Brinker International Inc                  | CUSIP: 109641100<br>LEI: 52990067JY6PBGJNTG76 | Long             | EC               | CORP              | US        |      9956 | NS      | $1475479.20   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristow Group Inc              | Bristow Group Inc                          | CUSIP: 11040G103<br>LEI: 5493005Q24EN3UC1PV68 | Long             | EC               | CORP              | US        |     17854 | NS      | $851635.80    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc     | Brixmor Property Group Inc                 | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |     42206 | NS      | $1277575.62   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Buckle Inc/The                 | Buckle Inc/The                             | CUSIP: 118440106<br>LEI: 5299007IU0461T3GDL34 | Long             | EC               | CORP              | US        |     27625 | NS      | $1479318.75   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent          | American Homes 4 Rent                      | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |     68991 | NS      | $2069730.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameris Bancorp                 | Ameris Bancorp                             | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |     35101 | NS      | $2725943.66   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP Industrial Trust           | LXP Industrial Trust                       | CUSIP: 529043408<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               | CORP              | US        |     17286 | NS      | $856694.16    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse Inc                 | Littelfuse Inc                             | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |      2562 | NS      | $903002.52    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| LiveRamp Holdings Inc          | LiveRamp Holdings Inc                      | CUSIP: 53815P108<br>LEI: 254900GXS75LG1X7RF88 | Long             | EC               | CORP              | US        |     22601 | NS      | $614069.17    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CTS Corp                       | CTS Corp                                   | CUSIP: 126501105<br>LEI: 549300YV1HQLBVHOI649 | Long             | EC               | CORP              | US        |     14938 | NS      | $786635.08    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Holdings Inc             | Crown Holdings Inc                         | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |     35532 | NS      | $4071967.20   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp            | Curtiss-Wright Corp                        | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |     18818 | NS      | $13178809.94  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Dana Inc                       | Dana Inc                                   | CUSIP: 235825205<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | EC               | CORP              | US        |     29493 | NS      | $1009840.32   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadian Asset Management Inc   | Acadian Asset Management Inc               | CUSIP: 10948W103<br>LEI: 5493004FTLQNQTBOP608 | Long             | EC               | CORP              | US        |     13783 | NS      | $742352.38    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Cargurus Inc                   | Cargurus Inc                               | CUSIP: 141788109<br>LEI: 54930027BKQN6B7X7G78 | Long             | EC               | CORP              | US        |     17370 | NS      | $533259.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Inc         | Jones Lang LaSalle Inc                     | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |     30038 | NS      | $9478490.90   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaiser Aluminum Corp           | Kaiser Aluminum Corp                       | CUSIP: 483007704<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6126 | NS      | $797237.64    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| KB Home                        | KB Home                                    | CUSIP: 48666K109<br>LEI: 549300LGUCWQURMWLG09 | Long             | EC               | CORP              | US        |     14466 | NS      | $919748.28    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirby Corp                     | Kirby Corp                                 | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |      6020 | NS      | $781396.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ScanSource Inc                 | ScanSource Inc                             | CUSIP: 806037107<br>LEI: 7FHBAN017QDY4K2KP156 | Long             | EC               | CORP              | US        |     15952 | NS      | $586714.56    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider National Inc         | Schneider National Inc                     | CUSIP: 80689H102<br>LEI: 529900V6GZ6G6E3BLV72 | Long             | EC               | CORP              | US        |     24662 | NS      | $699907.56    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Knowles Corp                   | Knowles Corp                               | CUSIP: 49926D109<br>LEI: 5493003EO323TDZQU148 | Long             | EC               | CORP              | US        |     29274 | NS      | $795374.58    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Kohl's Corp                    | Kohl's Corp                                | CUSIP: 500255104<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | EC               | CORP              | US        |     29058 | NS      | $475679.46    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Pharmaceuticals Inc   | Catalyst Pharmaceuticals Inc               | CUSIP: 14888U101<br>LEI: 5299004O0R5XXLA5H544 | Long             | EC               | CORP              | US        |     51465 | NS      | $1187812.20   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay General Bancorp         | Cathay General Bancorp                     | CUSIP: 149150104<br>LEI: 549300K1SLJ8C97H5L68 | Long             | EC               | CORP              | US        |     14579 | NS      | $724722.09    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Korn Ferry                     | Korn Ferry                                 | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |     12870 | NS      | $806562.90    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Kulicke & Soffa Industries Inc | Kulicke & Soffa Industries Inc             | CUSIP: 501242101<br>LEI: 529900H6BEIRBF429744 | Long             | EC               | CORP              | SG        |     13778 | NS      | $960602.16    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| LCI Industries                 | LCI Industries                             | CUSIP: 50189K103<br>LEI: 549300E1B98YNJ1WIQ04 | Long             | EC               | CORP              | US        |      6393 | NS      | $851547.60    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| La-Z-Boy Inc                   | La-Z-Boy Inc                               | CUSIP: 505336107<br>LEI: 549300WNO1WMN9ZG2519 | Long             | EC               | CORP              | US        |     16827 | NS      | $601060.44    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Landstar System Inc            | Landstar System Inc                        | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |      5035 | NS      | $820453.25    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corp                      | Lear Corp                                  | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |      5946 | NS      | $780412.50    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Leggett & Platt Inc            | Leggett & Platt Inc                        | CUSIP: 524660107<br>LEI: DKOVQUCDW4ZLYCUD4T55 | Long             | EC               | CORP              | US        |     61780 | NS      | $721590.40    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln Electric Holdings Inc  | Lincoln Electric Holdings Inc              | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |     25257 | NS      | $7250021.85   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Lindsay Corp                   | Lindsay Corp                               | CUSIP: 535555106<br>LEI: 549300ZFO0QG5H8TPI61 | Long             | EC               | CORP              | US        |      5539 | NS      | $746103.30    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Liquidity Services Inc         | Liquidity Services Inc                     | CUSIP: 53635B107<br>LEI: 5299002AZ4ULSAXN0G81 | Long             | EC               | CORP              | US        |     20910 | NS      | $660965.10    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Cavco Industries Inc           | Cavco Industries Inc                       | CUSIP: 149568107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2413 | NS      | $1392928.38   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerspace                    | Centerspace                                | CUSIP: 15202L107<br>LEI: 5493002LG2SH9EEHT720 | Long             | EC               | CORP              | US        |     10259 | NS      | $645291.10    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Garden & Pet Co        | Central Garden & Pet Co                    | CUSIP: 153527205<br>LEI: 5493004DVZLD37DJ0H83 | Long             | EC               | CORP              | US        |     32289 | NS      | $1115262.06   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Pacific Financial Corp | Central Pacific Financial Corp             | CUSIP: 154760409<br>LEI: 549300W3YEAOZ4KGG849 | Long             | EC               | CORP              | US        |     20300 | NS      | $646555.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Scholastic Corp                | Scholastic Corp                            | CUSIP: 807066105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23285 | NS      | $809619.45    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| M/I Homes Inc                  | M/I Homes Inc                              | CUSIP: 55305B101<br>LEI: 5299005M71FH9CCSFB69 | Long             | EC               | CORP              | US        |     13741 | NS      | $1953420.56   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| John B Sanfilippo & Son Inc    | John B Sanfilippo & Son Inc                | CUSIP: 800422107<br>LEI: 5299007IBEYVXKYDUX28 | Long             | EC               | CORP              | US        |      8801 | NS      | $727050.61    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus Henderson Group PLC      | Janus Henderson Group PLC                  | CUSIP: N/A<br>LEI: 2138009WPYMWJN3RVF44       | Long             | EC               | CORP              | GB        |     94544 | NS      | $4925742.40   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC       | Jazz Pharmaceuticals PLC                   | CUSIP: N/A<br>LEI: 635400GAUMJCLEZRRV50       | Long             | EC               | CORP              | IE        |     10285 | NS      | $1954355.70   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Ciena Corp                     | Ciena Corp                                 | CUSIP: 171779309<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | EC               | CORP              | US        |     57512 | NS      | $20054434.40  | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Cirrus Logic Inc               | Cirrus Logic Inc                           | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |     26576 | NS      | $3750405.12   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Clear Secure Inc               | Clear Secure Inc                           | CUSIP: 18467V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16416 | NS      | $798474.24    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Consolidated Inc     | Coca-Cola Consolidated Inc                 | CUSIP: 191098102<br>LEI: 57VG5X0E00X0QJU7CQ58 | Long             | EC               | CORP              | US        |     49939 | NS      | $10107653.60  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Collegium Pharmaceutical Inc   | Collegium Pharmaceutical Inc               | CUSIP: 19459J104<br>LEI: 54930049FXZMTLW8D496 | Long             | EC               | CORP              | US        |     13714 | NS      | $571462.38    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentra Group Holdings Paren | Concentra Group Holdings Parent Inc        | CUSIP: 20603L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50468 | NS      | $1209213.28   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Core & Main Inc                | Core & Main Inc                            | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34638 | NS      | $1875994.08   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| CorVel Corp                    | CorVel Corp                                | CUSIP: 221006109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9501 | NS      | $490061.58    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane Co                       | Crane Co                                   | CUSIP: 224408104<br>LEI: 5493000CQRQOTHUODL75 | Long             | EC               | CORP              | US        |     23110 | NS      | $4634248.30   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Chord Energy Corp              | Chord Energy Corp                          | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |     15057 | NS      | $1631727.09   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Therapeutics Inc           | PTC Therapeutics Inc                       | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |     42789 | NS      | $2917781.91   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Provident Financial Services I | Provident Financial Services Inc           | CUSIP: 74386T105<br>LEI: 529900JOSO3SXEDVE477 | Long             | EC               | CORP              | US        |     66422 | NS      | $1397518.88   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Qualys Inc                     | Qualys Inc                                 | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |      4460 | NS      | $412416.20    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| QuinStreet Inc                 | QuinStreet Inc                             | CUSIP: 74874Q100<br>LEI: 549300TP8MFBFPOS4Y78 | Long             | EC               | CORP              | US        |     45584 | NS      | $534244.48    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| RPM International Inc          | RPM International Inc                      | CUSIP: 749685103<br>LEI: 549300TJCKW4BRXPJ474 | Long             | EC               | CORP              | US        |     12319 | NS      | $1405844.28   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus Inc                     | Rambus Inc                                 | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |     15313 | NS      | $1526093.58   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier Inc                   | Rayonier Inc                               | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |     35540 | NS      | $763754.60    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings Inc               | RBC Bearings Inc                           | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12042 | NS      | $6935228.64   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Red Rock Resorts Inc           | Red Rock Resorts Inc                       | CUSIP: 75700L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17691 | NS      | $1071190.05   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Inc                   | Reliance Inc                               | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |      9818 | NS      | $3098953.52   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| REX American Resources Corp    | REX American Resources Corp                | CUSIP: 761624105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19953 | NS      | $709528.68    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Rush Enterprises Inc           | Rush Enterprises Inc                       | CUSIP: 781846209<br>LEI: 529900V3XHTN7A6DFT17 | Long             | EC               | CORP              | US        |     31786 | NS      | $2255852.42   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryder System Inc               | Ryder System Inc                           | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | EC               | CORP              | US        |      7740 | NS      | $1714874.40   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| S&T Bancorp Inc                | S&T Bancorp Inc                            | CUSIP: 783859101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15671 | NS      | $655204.51    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT Inc     | Sabra Health Care REIT Inc                 | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |     34589 | NS      | $710803.95    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Safety Insurance Group Inc     | Safety Insurance Group Inc                 | CUSIP: 78648T100<br>LEI: 254900LDCFLA3J746840 | Long             | EC               | CORP              | US        |      8446 | NS      | $655662.98    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Sally Beauty Holdings Inc      | Sally Beauty Holdings Inc                  | CUSIP: 79546E104<br>LEI: 529900VXW6E8ONDIQ271 | Long             | EC               | CORP              | US        |     42859 | NS      | $688744.13    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanmina Corp                   | Sanmina Corp                               | CUSIP: 801056102<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | EC               | CORP              | US        |     10788 | NS      | $1674944.88   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Champion Homes Inc             | Champion Homes Inc                         | CUSIP: 830830105<br>LEI: 2549008RYT2Y0VBZTC29 | Long             | EC               | CORP              | US        |     16516 | NS      | $1543915.68   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Tri Pointe Homes Inc           | Tri Pointe Homes Inc                       | CUSIP: 87265H109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22282 | NS      | $1031656.60   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Travel + Leisure Co            | Travel + Leisure Co                        | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | EC               | CORP              | US        |     18681 | NS      | $1376789.70   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Trustmark Corp                 | Trustmark Corp                             | CUSIP: 898402102<br>LEI: 5493000HPQ4D2RZ79739 | Long             | EC               | CORP              | US        |     30184 | NS      | $1285536.56   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries Inc             | UFP Industries Inc                         | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |     11958 | NS      | $1230597.78   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| RenaissanceRe Holdings Ltd     | RenaissanceRe Holdings Ltd                 | CUSIP: N/A<br>LEI: EK6GB9U3U58PDI411C94       | Long             | EC               | CORP              | BM        |     24834 | NS      | $7511291.64   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries Inc           | Dycom Industries Inc                       | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |     17061 | NS      | $7165961.22   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc       | EastGroup Properties Inc                   | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |     10796 | NS      | $2119362.76   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Enact Holdings Inc             | Enact Holdings Inc                         | CUSIP: 29249E109<br>LEI: 9845003CA5664B741N19 | Long             | EC               | CORP              | US        |     70129 | NS      | $2934197.36   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp          | Encompass Health Corp                      | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     36140 | NS      | $3898783.20   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Electric Co Inc       | Franklin Electric Co Inc                   | CUSIP: 353514102<br>LEI: RR6AURIKMXUE4Q24G284 | Long             | EC               | CORP              | US        |     17625 | NS      | $1755802.50   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontdoor Inc                  | Frontdoor Inc                              | CUSIP: 35905A109<br>LEI: 5493008RB0JZJI3QGZ06 | Long             | EC               | CORP              | US        |     23407 | NS      | $1605017.99   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| G-III Apparel Group Ltd        | G-III Apparel Group Ltd                    | CUSIP: 36237H101<br>LEI: 529900O5KABM3R3SFM87 | Long             | EC               | CORP              | US        |     21251 | NS      | $650068.09    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Gap Inc/The                    | Gap Inc/The                                | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |    140888 | NS      | $3950499.52   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Genworth Financial Inc         | Genworth Financial Inc                     | CUSIP: 37247D106<br>LEI: 549300EMCG286BDNKJ33 | Long             | EC               | CORP              | US        |    215703 | NS      | $1820533.32   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Getty Realty Corp              | Getty Realty Corp                          | CUSIP: 374297109<br>LEI: 2549000P1W5SFJWCNP90 | Long             | EC               | CORP              | US        |     23227 | NS      | $762310.14    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Globus Medical Inc             | Globus Medical Inc                         | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |     66143 | NS      | $6314010.78   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Graham Holdings Co             | Graham Holdings Co                         | CUSIP: 384637104<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | EC               | CORP              | US        |      2708 | NS      | $2852092.68   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Grand Canyon Education Inc     | Grand Canyon Education Inc                 | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |      9658 | NS      | $1536298.06   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Green Brick Partners Inc       | Green Brick Partners Inc                   | CUSIP: 392709101<br>LEI: 549300R7SCIV7FQI6T56 | Long             | EC               | CORP              | US        |     11749 | NS      | $865431.34    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Greif Inc                      | Greif Inc                                  | CUSIP: 397624107<br>LEI: 54930070FVGKR0Z1FI24 | Long             | EC               | CORP              | US        |     10918 | NS      | $793411.06    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| OPENLANE Inc                   | OPENLANE Inc                               | CUSIP: 48238T109<br>LEI: 5493004HKD20LBSG7D03 | Long             | EC               | CORP              | US        |     28975 | NS      | $826077.25    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Marzetti Company/The           | Marzetti Company/The                       | CUSIP: 513847103<br>LEI: 529900X4O13HED1ZAS58 | Long             | EC               | CORP              | US        |      9522 | NS      | $1564845.48   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Macy's Inc                     | Macy's Inc                                 | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               | CORP              | US        |    154489 | NS      | $3055792.42   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Maplebear Inc                  | Maplebear Inc                              | CUSIP: 565394103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    116080 | NS      | $4354160.80   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Matson Inc                     | Matson Inc                                 | CUSIP: 57686G105<br>LEI: 549300OI5H3Y0I9I4I12 | Long             | EC               | CORP              | US        |      6857 | NS      | $1139153.41   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Maximus Inc                    | Maximus Inc                                | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |     29456 | NS      | $2227168.16   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| PROG Holdings Inc              | PROG Holdings Inc                          | CUSIP: 74319R101<br>LEI: 549300DHYTLBOVRXIG52 | Long             | EC               | CORP              | US        |     22222 | NS      | $782436.62    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Progyny Inc                    | Progyny Inc                                | CUSIP: 74340E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43009 | NS      | $760829.21    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Protagonist Therapeutics Inc   | Protagonist Therapeutics Inc               | CUSIP: 74366E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6927 | NS      | $637838.16    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Proto Labs Inc                 | Proto Labs Inc                             | CUSIP: 743713109<br>LEI: 529900QHG5MGWT2WQQ09 | Long             | EC               | CORP              | US        |     12608 | NS      | $782704.64    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| St Joe Co/The                  | St Joe Co/The                              | CUSIP: 790148100<br>LEI: 529900XVHOT3BF8PWG49 | Long             | EC               | CORP              | US        |     27899 | NS      | $2013470.83   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Medical Holdings Corp   | Select Medical Holdings Corp               | CUSIP: 81619Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43417 | NS      | $649952.49    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Selective Insurance Group Inc  | Selective Insurance Group Inc              | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |     34970 | NS      | $2938878.80   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Semtech Corp                   | Semtech Corp                               | CUSIP: 816850101<br>LEI: 549300J7WUY317SW6O61 | Long             | EC               | CORP              | US        |     12000 | NS      | $1082640.00   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensient Technologies Corp     | Sensient Technologies Corp                 | CUSIP: 81725T100<br>LEI: CMMZHMFZQG86EI7WZU92 | Long             | EC               | CORP              | US        |      7149 | NS      | $725837.97    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| SkyWest Inc                    | SkyWest Inc                                | CUSIP: 830879102<br>LEI: 529900UYS2KGS6Z42P09 | Long             | EC               | CORP              | US        |     14015 | NS      | $1458681.20   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Gas Holdings Inc     | Southwest Gas Holdings Inc                 | CUSIP: 844895102<br>LEI: 254900LKF9EV0CUKNE09 | Long             | EC               | CORP              | US        |     16181 | NS      | $1426678.77   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprinklr Inc                   | Sprinklr Inc                               | CUSIP: 85208T107<br>LEI: 254900AR04RJ2BQO5S78 | Long             | EC               | CORP              | US        |     84526 | NS      | $491941.32    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial Inc            | STAG Industrial Inc                        | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |     19226 | NS      | $754043.72    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Motor Products Inc    | Standard Motor Products Inc                | CUSIP: 853666105<br>LEI: THGK1EO5B5HK0JHQVZ90 | Long             | EC               | CORP              | US        |     17128 | NS      | $679639.04    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Stepan Co                      | Stepan Co                                  | CUSIP: 858586100<br>LEI: IZU1EW9GB3WC7CYCSR17 | Long             | EC               | CORP              | US        |     13955 | NS      | $710169.95    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corp          | Stifel Financial Corp                      | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |     95768 | NS      | $7091583.38   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings Inc           | Medpace Holdings Inc                       | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |      8644 | NS      | $3905013.44   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicell Inc                   | Omnicell Inc                               | CUSIP: 68213N109<br>LEI: 5493008RH0GTKHHPZI77 | Long             | EC               | CORP              | US        |     15415 | NS      | $633556.50    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneX Group Inc               | StoneX Group Inc                           | CUSIP: 861896108<br>LEI: 549300JUF07L8VF02M60 | Long             | EC               | CORP              | US        |     22639 | NS      | $2886472.50   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Strategic Education Inc        | Strategic Education Inc                    | CUSIP: 86272C103<br>LEI: 2549002UYIM8Q5EC8H36 | Long             | EC               | CORP              | US        |      8236 | NS      | $677658.08    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation Inc            | Onto Innovation Inc                        | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |      8099 | NS      | $1748493.11   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Option Care Health Inc         | Option Care Health Inc                     | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |     19929 | NS      | $646895.34    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Stride Inc                     | Stride Inc                                 | CUSIP: 86333M108<br>LEI: 254900BRWS3AFONWU277 | Long             | EC               | CORP              | US        |     10196 | NS      | $860338.48    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Country Airlines Holdings  | Sun Country Airlines Holdings Inc          | CUSIP: 866683105<br>LEI: 549300MOHOJN9GH0NJ48 | Long             | EC               | CORP              | US        |     45030 | NS      | $886190.40    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors Inc   | Sunstone Hotel Investors Inc               | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |     72411 | NS      | $671974.08    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Somnigroup International Inc   | Somnigroup International Inc               | CUSIP: 88023U101<br>LEI: 549300HFEKVR3US71V91 | Long             | EC               | CORP              | US        |     62722 | NS      | $5614246.22   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresh Del Monte Produce Inc    | Fresh Del Monte Produce Inc                | CUSIP: N/A<br>LEI: 529900I72V9F0FEZR228       | Long             | EC               | CORP              | US        |     17459 | NS      | $749514.87    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Genpact Ltd                    | Genpact Ltd                                | CUSIP: N/A<br>LEI: 529900OSEC6Q0L4L5B35       | Long             | EC               | CORP              | US        |     65603 | NS      | $2605751.16   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| SiriusPoint Ltd                | SiriusPoint Ltd                            | CUSIP: N/A<br>LEI: 549300OGXFI85N3YZZ51       | Long             | EC               | CORP              | BM        |     58664 | NS      | $1240156.96   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Pediatrix Medical Group Inc    | Pediatrix Medical Group Inc                | CUSIP: 58502B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45468 | NS      | $902539.80    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Pathward Financial Inc         | Pathward Financial Inc                     | CUSIP: 59100U108<br>LEI: 5493004X52BH1NBLW813 | Long             | EC               | CORP              | US        |      9007 | NS      | $817745.53    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| OFG Bancorp                    | OFG Bancorp                                | CUSIP: 67103X102<br>LEI: 549300Q4QEXJ37LEXQ06 | Long             | EC               | CORP              | PR        |     15664 | NS      | $627813.12    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Oceaneering International Inc  | Oceaneering International Inc              | CUSIP: 675232102<br>LEI: 549300L6PH74701W0R30 | Long             | EC               | CORP              | US        |     33556 | NS      | $1191238.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc | Omega Healthcare Investors Inc             | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |    123017 | NS      | $5938030.59   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| PC Connection Inc              | PC Connection Inc                          | CUSIP: 69318J100<br>LEI: 5299005WPRNIXDV2KM73 | Long             | EC               | CORP              | US        |     11069 | NS      | $674655.55    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PJT Partners Inc               | PJT Partners Inc                           | CUSIP: 69343T107<br>LEI: 549300W3WBEQUBKYTN87 | Long             | EC               | CORP              | US        |      5612 | NS      | $828780.16    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Par Pacific Holdings Inc       | Par Pacific Holdings Inc                   | CUSIP: 69888T207<br>LEI: 549300BTNS7MHSHRLR55 | Long             | EC               | CORP              | US        |     16595 | NS      | $708108.65    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Penumbra Inc                   | Penumbra Inc                               | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |     14654 | NS      | $5046691.06   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Perdoceo Education Corp        | Perdoceo Education Corp                    | CUSIP: 71363P106<br>LEI: 529900X5PCA184O9LY90 | Long             | EC               | CORP              | US        |     35874 | NS      | $1196397.90   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp         | Permian Resources Corp                     | CUSIP: 71424F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    425234 | NS      | $7777529.86   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Phibro Animal Health Corp      | Phibro Animal Health Corp                  | CUSIP: 71742Q106<br>LEI: 549300U24SP4AF2JUX52 | Long             | EC               | CORP              | US        |     16344 | NS      | $892218.96    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Resources Corp          | Antero Resources Corp                      | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |    194863 | NS      | $7172907.03   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologie | Applied Industrial Technologies Inc        | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |     15106 | NS      | $4268653.48   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips Edison & Co Inc       | Phillips Edison & Co Inc                   | CUSIP: 71844V201<br>LEI: 549300JPN4YHYPXTJQ85 | Long             | EC               | CORP              | US        |     18907 | NS      | $742666.96    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Phinia Inc                     | Phinia Inc                                 | CUSIP: 71880K101<br>LEI: 254900HG6MORZE1FFM18 | Long             | EC               | CORP              | US        |     11564 | NS      | $839893.32    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| AptarGroup Inc                 | AptarGroup Inc                             | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |      5516 | NS      | $792704.36    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcosa Inc                     | Arcosa Inc                                 | CUSIP: 039653100<br>LEI: 549300WFHLTCZV7D6V29 | Long             | EC               | CORP              | US        |     18010 | NS      | $1935714.80   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc                 | Photronics Inc                             | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |     17782 | NS      | $665580.26    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Pilgrim's Pride Corp           | Pilgrim's Pride Corp                       | CUSIP: 72147K108<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | EC               | CORP              | US        |     52896 | NS      | $2282991.36   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Co   | Portland General Electric Co               | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |     53749 | NS      | $2900296.04   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Preferred Bank/Los Angeles CA  | Preferred Bank/Los Angeles CA              | CUSIP: 740367404<br>LEI: 5493007K6HGI9G0ECX16 | Long             | EC               | CORP              | US        |      6604 | NS      | $579302.88    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Armstrong World Industries Inc | Armstrong World Industries Inc             | CUSIP: 04247X102<br>LEI: KXMRXXOJ88Q45Y45MG74 | Long             | EC               | CORP              | US        |     20847 | NS      | $3616954.50   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp               | HF Sinclair Corp                           | CUSIP: 403949100<br>LEI: 2549009G116AM01XHN24 | Long             | EC               | CORP              | US        |     84442 | NS      | $4222944.42   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| HCI Group Inc                  | HCI Group Inc                              | CUSIP: 40416E103<br>LEI: 549300CZF7EZJH0MPH74 | Long             | EC               | CORP              | US        |      7076 | NS      | $1248347.92   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanmi Financial Corp           | Hanmi Financial Corp                       | CUSIP: 410495204<br>LEI: 549300MSZ7RCG7EA6587 | Long             | EC               | CORP              | US        |     22852 | NS      | $596665.72    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanover Insurance Group Inc/Th | Hanover Insurance Group Inc/The            | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |     22242 | NS      | $4017572.46   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmonic Inc                   | Harmonic Inc                               | CUSIP: 413160102<br>LEI: 549300LRGRD8XC9BTL66 | Long             | EC               | CORP              | US        |     64403 | NS      | $684603.89    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmony Biosciences Holdings I | Harmony Biosciences Holdings Inc           | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34025 | NS      | $971073.50    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Services Group Inc  | Healthcare Services Group Inc              | CUSIP: 421906108<br>LEI: 529900GVZ1D2FBYMS719 | Long             | EC               | CORP              | US        |     34989 | NS      | $761710.53    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilltop Holdings Inc           | Hilltop Holdings Inc                       | CUSIP: 432748101<br>LEI: 54930010TA543US0PM65 | Long             | EC               | CORP              | US        |     27005 | NS      | $1010797.15   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Horace Mann Educators Corp     | Horace Mann Educators Corp                 | CUSIP: 440327104<br>LEI: 254900G5YAV3A2YK8T32 | Long             | EC               | CORP              | US        |     20367 | NS      | $886168.17    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Hub Group Inc                  | Hub Group Inc                              | CUSIP: 443320106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15496 | NS      | $667412.72    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovex International Inc      | Innovex International Inc                  | CUSIP: 457651107<br>LEI: 5299007REICYIJNMW197 | Long             | EC               | CORP              | US        |     29851 | NS      | $786573.85    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Insteel Industries Inc         | Insteel Industries Inc                     | CUSIP: 45774W108<br>LEI: 52990026LKY4MOX3L174 | Long             | EC               | CORP              | US        |     20274 | NS      | $755814.72    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Innoviva Inc                   | Innoviva Inc                               | CUSIP: 45781M101<br>LEI: 549300ACOX4QTBES6535 | Long             | EC               | CORP              | US        |     44135 | NS      | $1013339.60   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Interface Inc                  | Interface Inc                              | CUSIP: 458665304<br>LEI: 549300VXZWQOIDFPU355 | Long             | EC               | CORP              | US        |     23197 | NS      | $730473.53    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| InterDigital Inc               | InterDigital Inc                           | CUSIP: 45867G101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1871 | NS      | $685777.63    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ziff Davis Inc                 | Ziff Davis Inc                             | CUSIP: 48123V102<br>LEI: 5493008OJYGLHD7MXA18 | Long             | EC               | CORP              | US        |     18831 | NS      | $509943.48    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Supernus Pharmaceuticals Inc   | Supernus Pharmaceuticals Inc               | CUSIP: 868459108<br>LEI: 549300GRM36VBKISYJ58 | Long             | EC               | CORP              | US        |     14083 | NS      | $770762.59    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Sylvamo Corp                   | Sylvamo Corp                               | CUSIP: 871332102<br>LEI: 5493001AOYU1ZOWOC971 | Long             | EC               | CORP              | US        |     13322 | NS      | $616808.60    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Talos Energy Inc               | Talos Energy Inc                           | CUSIP: 87484T108<br>LEI: 549300OKFHZ84SFJFT95 | Long             | EC               | CORP              | US        |     59972 | NS      | $734657.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Tanger Inc                     | Tanger Inc                                 | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               | CORP              | US        |     19787 | NS      | $733306.22    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp      | Taylor Morrison Home Corp                  | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |     61050 | NS      | $4022584.50   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Telephone and Data Systems Inc | Telephone and Data Systems Inc             | CUSIP: 879433829<br>LEI: 5299003YZW5BE2NNLO37 | Long             | EC               | CORP              | US        |     37803 | NS      | $1691684.25   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp          | Tenet Healthcare Corp                      | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |     29785 | NS      | $7130231.15   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradata Corp                  | Teradata Corp                              | CUSIP: 88076W103<br>LEI: 549300JU9SOUHV4U4R71 | Long             | EC               | CORP              | US        |     32449 | NS      | $1021819.01   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Tetra Tech Inc                 | Tetra Tech Inc                             | CUSIP: 88162G103<br>LEI: 549300UJ1LP7JGJC5P32 | Long             | EC               | CORP              | US        |     53617 | NS      | $1921633.28   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc            | Texas Roadhouse Inc                        | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |     14917 | NS      | $2727871.79   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Timken Co/The                  | Timken Co/The                              | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |     19360 | NS      | $2098236.80   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers Inc              | Toll Brothers Inc                          | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |     51304 | NS      | $8067040.96   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Tompkins Financial Corp        | Tompkins Financial Corp                    | CUSIP: 890110109<br>LEI: 254900QDQ6V0QJ0Z2348 | Long             | EC               | CORP              | US        |      8993 | NS      | $689853.03    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp        | Wintrust Financial Corp                    | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     33438 | NS      | $4817078.28   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Yelp Inc                       | Yelp Inc                                   | CUSIP: 985817105<br>LEI: 5299007OU2DOSXPQBO35 | Long             | EC               | CORP              | US        |     21794 | NS      | $485788.26    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Zions Bancorp NA               | Zions Bancorp NA                           | CUSIP: 989701107<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | EC               | CORP              | US        |     75599 | NS      | $4330310.72   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                 | TechnipFMC PLC                             | CUSIP: N/A<br>LEI: 549300D5I93QWCJTCK36       | Long             | EC               | CORP              | GB        |    244696 | NS      | $16225791.76  | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-29

**Name of Applicant:** Horizon Funds

**Signature:** /s/ Stephen Terry

**Name of Signer:** Stephen Terry

**Title:** Chief Financial Officer