# EDGAR Filing Document

**Accession Number:** 0001696729
**File Stem:** 0000894189-26-015623
**Filing Date:** 2026-5
**Character Count:** 145995
**Document Hash:** aa112ef31e7d24829bcdfa8567073b9b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-015623.hdr.sgml**: 20260526

**ACCESSION NUMBER**: 0000894189-26-015623

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260526

**DATE AS OF CHANGE**: 20260526

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PFM Multi-Manager Series Trust
- **CENTRAL INDEX KEY:** 0001696729

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23282
- **FILM NUMBER:** 261018329

**BUSINESS ADDRESS:**
- **STREET 1:** 213 MARKET STREET
- **CITY:** HARRISBURG
- **STATE:** PA
- **ZIP:** 17101
- **BUSINESS PHONE:** 215-567-6100

**MAIL ADDRESS:**
- **STREET 1:** 213 MARKET STREET
- **CITY:** HARRISBURG
- **STATE:** PA
- **ZIP:** 17101

## Series and Classes Contracts Data

### First American Multi-Manager International Equity Fund (Series ID: S000059563)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000195104 | Institutional Class | FAIEX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** PFM Multi-Manager Series Trust

- **b. Investment Company Act file number:** 811-23282

- **c. CIK number of Registrant:** 0001696729

- **d. LEI of Registrant:** 549300DFOM6D3CO0F144

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

  - **Street Address 1:** 213 Market Street

  - **City:** Harrisburg

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 17101

  - **Telephone number:** 1-800-527-5412

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

- **a. Name of Series:** First American Multi-Manager International Equity Fund

- **b. EDGAR series identifier (if any):** S000059563

- **c. LEI of Series:** 5493002U88DL75Y6L037

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $926143885.38

**Total Liabilities:** $920983.25

**Net Assets:** $925222902.13

**Cash Not Reported:** $413858.66

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000195104 | 5.76%                | 4.69%                | -8.97%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $24220643.87             | $32708605.79                               |
| Month 2  | $26199226.67             | $19764788.22                               |
| Month 3  | $22330633.24             | $-114092284.54                             |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PETROBRAS                      | Petroleo Brasileiro SA - Petrobras                        | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EP               | CORP              | BR        |    125400 | NS      | $1176082.71   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitt | LVMH Moet Hennessy Louis Vuitton SE                       | CUSIP: N/A<br>LEI: IOG4E947OATN0KJYSD45       | Long             | EC               | CORP              | FR        |      2000 | NS      | $1111735.47   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Repsol SA                      | Repsol SA                                                 | CUSIP: N/A<br>LEI: BSYCX13Y0NOTV14V9N85       | Long             | EC               | CORP              | ES        |     11206 | NS      | $314846.67    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Evotec SE                      | Evotec SE                                                 | CUSIP: N/A<br>LEI: 529900F9KI6OYITO9B12       | Long             | EC               | CORP              | DE        |    253490 | NS      | $1250321.35   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of East Asia Ltd/The      | Bank of East Asia Ltd/The                                 | CUSIP: N/A<br>LEI: CO6GC26LCGGRTUESIP55       | Long             | EC               | CORP              | HK        |     86000 | NS      | $143480.13    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Singapore Exchange Ltd         | Singapore Exchange Ltd                                    | CUSIP: N/A<br>LEI: 549300IQ650PPXM76X03       | Long             | EC               | CORP              | SG        |     57800 | NS      | $886875.75    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Regis Resources Ltd            | Regis Resources Ltd                                       | CUSIP: N/A<br>LEI: 213800XH9YUXBLYBD749       | Long             | EC               | CORP              | AU        |     17444 | NS      | $83501.49     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Seiko Epson Corp               | Seiko Epson Corp                                          | CUSIP: N/A<br>LEI: 549300NIOFQDR749W206       | Long             | EC               | CORP              | JP        |      6100 | NS      | $75350.90     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Trinity Industrial Corp        | Trinity Industrial Corp                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      1500 | NS      | $11683.91     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ricoh Co Ltd                   | Ricoh Co Ltd                                              | CUSIP: N/A<br>LEI: 549300HFIB2GRUMDID72       | Long             | EC               | CORP              | JP        |     25000 | NS      | $211358.42    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| SINGAMAS CONT                  | Singamas Container Holdings Ltd                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |    276253 | NS      | $21966.47     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TDK Corp                       | TDK Corp                                                  | CUSIP: N/A<br>LEI: 3538005O8WNU39U8NX03       | Long             | EC               | CORP              | JP        |      2000 | NS      | $25931.01     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokyo Electron Ltd             | Tokyo Electron Ltd                                        | CUSIP: N/A<br>LEI: 549300H5LSF8DP3RIJ34       | Long             | EC               | CORP              | JP        |     12500 | NS      | $3056901.33   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| OTP Bank Nyrt                  | OTP Bank Nyrt                                             | CUSIP: N/A<br>LEI: 529900W3MOO00A18X956       | Long             | EC               | CORP              | HU        |      7778 | NS      | $838686.28    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| TSMC                           | Taiwan Semiconductor Manufacturing Co Ltd                 | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     26610 | NS      | $8992849.50   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacific Basin Shipping Ltd     | Pacific Basin Shipping Ltd                                | CUSIP: N/A<br>LEI: 254900LNPK737X4Y3V26       | Long             | EC               | CORP              | HK        |   2398000 | NS      | $886643.47    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Safran SA                      | Safran SA                                                 | CUSIP: N/A<br>LEI: 969500UIC89GT3UL7L24       | Long             | EC               | CORP              | FR        |     10988 | NS      | $3593565.54   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Pico Far East Holdings Ltd     | Pico Far East Holdings Ltd                                | CUSIP: N/A<br>LEI: 254900NL3DXVIEY4HJ17       | Long             | EC               | CORP              | HK        |    264607 | NS      | $83999.12     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Schindler Holding AG           | Schindler Holding AG                                      | CUSIP: N/A<br>LEI: 5299007DRLI319H7Q933       | Long             | EC               | CORP              | CH        |      2242 | NS      | $738337.69    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| TotalEnergies SE               | TotalEnergies SE                                          | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |     21400 | NS      | $1975940.94   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Symrise AG                     | Symrise AG                                                | CUSIP: N/A<br>LEI: 529900D82I6R9601CF26       | Long             | EC               | CORP              | DE        |      9200 | NS      | $778953.24    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Sandvik AB                     | Sandvik AB                                                | CUSIP: N/A<br>LEI: 5299008ZUAXN43LVZF54       | Long             | EC               | CORP              | SE        |     72000 | NS      | $2751499.89   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Sompo Holdings Inc             | Sompo Holdings Inc                                        | CUSIP: N/A<br>LEI: 353800CWW4SRGEYEB512       | Long             | EC               | CORP              | JP        |    109600 | NS      | $4282436.05   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Sungrow Power Supply Co Ltd    | Sungrow Power Supply Co Ltd                               | CUSIP: N/A<br>LEI: 30030052IWC7RGVFG505       | Long             | EC               | CORP              | CN        |    117671 | NS      | $2587218.68   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Klingelnberg AG                | Klingelnberg AG                                           | CUSIP: N/A<br>LEI: 5299006LD35WX0UCKR92       | Long             | EC               | CORP              | CH        |       360 | NS      | $4724.90      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Triple Flag Precious Metals Co | Triple Flag Precious Metals Corp                          | CUSIP: 89679M104<br>LEI: 254900R7NJ1TEYIM4E61 | Long             | EC               | CORP              | CA        |      1700 | NS      | $59025.23     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Sandoz Group AG                | Sandoz Group AG                                           | CUSIP: N/A<br>LEI: 5493000JWK6XWFEUD320       | Long             | EC               | CORP              | CH        |      3062 | NS      | $240178.52    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Kinaxis Inc                    | Kinaxis Inc                                               | CUSIP: 49448Q109<br>LEI: 5299009VAZ14K7PFUQ15 | Long             | EC               | CORP              | CA        |       600 | NS      | $60556.39     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung C&T Corp               | Samsung C&T Corp                                          | CUSIP: N/A<br>LEI: 988400GFRE4IDFPE9E64       | Long             | EC               | CORP              | KR        |      4443 | NS      | $754457.72    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| M1 Kliniken AG                 | M1 Kliniken AG                                            | CUSIP: N/A<br>LEI: 529900W697S31A26WT02       | Long             | EC               | CORP              | DE        |      1141 | NS      | $19412.83     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Speedy Hire PLC                | Speedy Hire PLC                                           | CUSIP: N/A<br>LEI: 213800U78SIYAZDYXM61       | Long             | EC               | CORP              | GB        |     27025 | NS      | $8084.75      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Mexico SAB de CV         | Grupo Mexico SAB de CV                                    | CUSIP: P49538112<br>LEI: 529900JWLZAYET2ZGW20 | Long             | EC               | CORP              | MX        |     88212 | NS      | $943543.07    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ericsson                       | Telefonaktiebolaget LM Ericsson                           | CUSIP: 294821608<br>LEI: 549300W9JLPW15XIFM52 | Long             | EC               | CORP              | SE        |     90490 | NS      | $1019822.30   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| KBC Group NV                   | KBC Group NV                                              | CUSIP: N/A<br>LEI: 213800X3Q9LSAKRUWY91       | Long             | EC               | CORP              | BE        |      5488 | NS      | $670879.49    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| KSB SE & Co KGaA               | KSB SE & Co KGaA                                          | CUSIP: N/A<br>LEI: 529900BVAET534PD7C28       | Long             | EC               | CORP              | DE        |        26 | NS      | $28881.56     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| KT Corp                        | KT Corp                                                   | CUSIP: 48268K101<br>LEI: 9884005ACF8449EANY26 | Long             | EC               | CORP              | KR        |     22924 | NS      | $491719.80    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| HOCHTIEF AG                    | HOCHTIEF AG                                               | CUSIP: N/A<br>LEI: 529900Y25S8NZIYTT924       | Long             | EC               | CORP              | DE        |       950 | NS      | $417817.25    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Endesa SA                      | Endesa SA                                                 | CUSIP: N/A<br>LEI: 549300LHK07F2CHV4X31       | Long             | EC               | CORP              | ES        |      3275 | NS      | $138109.11    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Erste Group Bank AG            | Erste Group Bank AG                                       | CUSIP: N/A<br>LEI: PQOH26KWDF7CG10L6792       | Long             | EC               | CORP              | AT        |     49459 | NS      | $5344354.73   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanofi SA                      | Sanofi SA                                                 | CUSIP: N/A<br>LEI: 549300E9PC51EN656011       | Long             | EC               | CORP              | FR        |      1145 | NS      | $110442.40    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| NRJ Group                      | NRJ Group                                                 | CUSIP: N/A<br>LEI: 969500IQLBCOOICLAB88       | Long             | EC               | CORP              | FR        |      1377 | NS      | $10888.04     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Horizon Oil Ltd                | Horizon Oil Ltd                                           | CUSIP: N/A<br>LEI: 52990027DG9I87NLGK24       | Long             | EC               | CORP              | AU        |    215936 | NS      | $41612.43     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fast Retailing Co Ltd          | Fast Retailing Co Ltd                                     | CUSIP: N/A<br>LEI: 353800ZCXKHDPY0N5218       | Long             | EC               | CORP              | JP        |      5200 | NS      | $2069664.52   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Fisher & Paykel Healthcare Cor | Fisher & Paykel Healthcare Corp Ltd                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | NZ        |      1023 | NS      | $22159.28     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FANUC Corp                     | FANUC Corp                                                | CUSIP: N/A<br>LEI: 529900QTSW745LOKW705       | Long             | EC               | CORP              | JP        |     31300 | NS      | $1090159.21   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Fisher & Paykel Healthcare Cor | Fisher & Paykel Healthcare Corp Ltd                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | NZ        |     15570 | NS      | $333099.17    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Orica Ltd                      | Orica Ltd                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |      8841 | NS      | $123738.34    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Kawasaki Heavy Industries Ltd  | Kawasaki Heavy Industries Ltd                             | CUSIP: N/A<br>LEI: 5493008FFSI8SQ74AT93       | Long             | EC               | CORP              | JP        |    117500 | NS      | $2229454.02   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Far East Orchard Ltd           | Far East Orchard Ltd                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SG        |     15300 | NS      | $13894.07     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Novo Nordisk A/S               | Novo Nordisk A/S                                          | CUSIP: 670100205<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |     63000 | NS      | $2315250.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd     | Samsung Electronics Co Ltd                                | CUSIP: Y74718118<br>LEI: 9884007ER46L6N7EI764 | Long             | EP               | CORP              | KR        |      8859 | NS      | $705367.03    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Ibersol SGPS SA                | Ibersol SGPS SA                                           | CUSIP: N/A<br>LEI: 549300ZG20XRKSRKZ238       | Long             | EC               | CORP              | PT        |      2340 | NS      | $29429.66     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Centerra Gold Inc              | Centerra Gold Inc                                         | CUSIP: 152006102<br>LEI: 549300K0HXTMP5JJ0E62 | Long             | EC               | CORP              | CA        |      9100 | NS      | $161838.83    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiichi Sankyo Co Ltd          | Daiichi Sankyo Co Ltd                                     | CUSIP: N/A<br>LEI: 353800XGIU2IHQGC9504       | Long             | EC               | CORP              | JP        |      1500 | NS      | $26445.71     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SHENZHOU INTL                  | Shenzhou International Group Holdings Ltd                 | CUSIP: N/A<br>LEI: 529900B4W41TCUKJFM73       | Long             | EC               | CORP              | CN        |    115200 | NS      | $700150.48    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Origin Enterprises PLC         | Origin Enterprises PLC                                    | CUSIP: N/A<br>LEI: 213800AIB4U7N5BLS350       | Long             | EC               | CORP              | IE        |      8956 | NS      | $46526.68     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RELX PLC                       | RELX PLC                                                  | CUSIP: N/A<br>LEI: 549300WSX3VBUFFJOO66       | Long             | EC               | CORP              | GB        |     64577 | NS      | $2129038.61   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| PAX Global Technology Ltd      | PAX Global Technology Ltd                                 | CUSIP: N/A<br>LEI: 5299008CRGPD1WZXCD36       | Long             | EC               | CORP              | HK        |    138000 | NS      | $75542.87     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Glencore PLC                   | Glencore PLC                                              | CUSIP: N/A<br>LEI: 2138002658CPO9NBH955       | Long             | EC               | CORP              | CH        |    317103 | NS      | $2416310.42   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Otsuka Holdings Co Ltd         | Otsuka Holdings Co Ltd                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     22900 | NS      | $1616432.77   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Coca-Cola HBC AG               | Coca-Cola HBC AG                                          | CUSIP: N/A<br>LEI: 549300EFP3TNG7JGVE49       | Long             | EC               | CORP              | CH        |     53054 | NS      | $3007562.11   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| ORIENTAL YUHONG                | Beijing Oriental Yuhong Waterproof Technology Co Ltd      | CUSIP: N/A<br>LEI: 300300XMIXB7STDZWT60       | Long             | EC               | CORP              | CN        |    277800 | NS      | $620394.85    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| HRnetgroup Ltd                 | HRnetgroup Ltd                                            | CUSIP: N/A<br>LEI: 5493005F7ABID7YZD323       | Long             | EC               | CORP              | SG        |    101100 | NS      | $58668.04     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Intron Technology Holdings Ltd | Intron Technology Holdings Ltd                            | CUSIP: N/A<br>LEI: 2549000K50PPEQEXN586       | Long             | EC               | CORP              | HK        |     90000 | NS      | $18704.52     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| KLN Logistics Group Ltd        | KLN Logistics Group Ltd                                   | CUSIP: N/A<br>LEI: 254900G739TFTQCVKO70       | Long             | EC               | CORP              | HK        |    173038 | NS      | $146029.27    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Haier Smart Home Co Ltd        | Haier Smart Home Co Ltd                                   | CUSIP: N/A<br>LEI: 3003002BYTNGNJTWSH07       | Long             | EC               | CORP              | CN        |    327400 | NS      | $873534.32    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens Energy AG              | Siemens Energy AG                                         | CUSIP: N/A<br>LEI: 5299005CHJZ14D4FDJ62       | Long             | EC               | CORP              | DE        |     52614 | NS      | $8659018.74   | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Haleon PLC                     | Haleon PLC                                                | CUSIP: N/A<br>LEI: 549300PSB3WWEODCUP19       | Long             | EC               | CORP              | GB        |    342300 | NS      | $1694349.66   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Halmek Holdings Co Ltd         | Halmek Holdings Co Ltd                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      1500 | NS      | $14477.42     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NN Group NV                    | NN Group NV                                               | CUSIP: N/A<br>LEI: 724500OHYNDT9OY6Q215       | Long             | EC               | CORP              | NL        |     10559 | NS      | $825942.74    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortuna Mining Corp            | Fortuna Mining Corp                                       | CUSIP: 349942102<br>LEI: 5493003Q88RVK7CW4735 | Long             | EC               | CORP              | CA        |     20224 | NS      | $201062.41    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Hafnia Ltd                     | Hafnia Ltd                                                | CUSIP: N/A<br>LEI: 5493001KCFT0SCGJ2647       | Long             | EC               | CORP              | SG        |      3936 | NS      | $29930.96     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| South32 Ltd                    | South32 Ltd                                               | CUSIP: N/A<br>LEI: 213800LAZNPXSBKVHR17       | Long             | EC               | CORP              | AU        |     91848 | NS      | $276088.48    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| ING Groep NV                   | ING Groep NV                                              | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |     45743 | NS      | $1195237.58   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Credicorp Ltd                  | Credicorp Ltd                                             | CUSIP: N/A<br>LEI: 529900UYAEYQCQ2BKB17       | Long             | EC               | CORP              | PE        |     11806 | NS      | $4004359.08   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank of Canada        | National Bank of Canada                                   | CUSIP: 633067103<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | EC               | CORP              | CA        |      1000 | NS      | $129401.19    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Bharti Airtel Ltd              | Bharti Airtel Ltd                                         | CUSIP: N/A<br>LEI: 335800KQ1FPKOQ84OR26       | Long             | EC               | CORP              | IN        |     49134 | NS      | $934180.10    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| UPL Ltd                        | UPL Ltd                                                   | CUSIP: N/A<br>LEI: 335800RJSM1SLHO4UA95       | Long             | EC               | CORP              | IN        |    119318 | NS      | $720601.63    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Logitech International SA      | Logitech International SA                                 | CUSIP: N/A<br>LEI: 549300SN6PRK6IJJC215       | Long             | EC               | CORP              | CH        |      8275 | NS      | $756076.06    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Brambles Ltd                   | Brambles Ltd                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    137834 | NS      | $2153784.59   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Wal-Mart de Mexico SAB de CV   | Wal-Mart de Mexico SAB de CV                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |    579600 | NS      | $1889852.37   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BRC Asia Ltd                   | BRC Asia Ltd                                              | CUSIP: N/A<br>LEI: 25490023Q985DSFBME10       | Long             | EC               | CORP              | SG        |     14800 | NS      | $54133.95     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Driehaus Emerging Markets Grow | Driehaus Emerging Markets Growth Fund                     | CUSIP: 262028756<br>LEI: 2549003SIJKOXIAOFO04 | Long             | EC               | RF                | US        |    838986 | NS      | $41219386.81  | 4.46%             |  |  |  | No            |                  1 | On Loan: No      |
| ElringKlinger AG               | ElringKlinger AG                                          | CUSIP: N/A<br>LEI: 529900QDISXXZ2D1Q489       | Long             | EC               | CORP              | DE        |      2058 | NS      | $11742.18     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Munich Re                      | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | CUSIP: N/A<br>LEI: 529900MUF4C20K50JS49       | Long             | EC               | CORP              | DE        |      7400 | NS      | $4609699.08   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| A2A SpA                        | A2A SpA                                                   | CUSIP: N/A<br>LEI: 81560076E3944316DB24       | Long             | EC               | CORP              | IT        |    180434 | NS      | $511433.29    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| ANZ Group Holdings Ltd         | ANZ Group Holdings Ltd                                    | CUSIP: N/A<br>LEI: 9845005D9C6BAA10BK72       | Long             | EC               | CORP              | AU        |     28559 | NS      | $717924.68    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Murata Manufacturing Co Ltd    | Murata Manufacturing Co Ltd                               | CUSIP: N/A<br>LEI: 529900QZG6DL8ZRI7140       | Long             | EC               | CORP              | JP        |      6900 | NS      | $154702.96    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Astellas Pharma Inc            | Astellas Pharma Inc                                       | CUSIP: N/A<br>LEI: 529900IB708DY2HBBB35       | Long             | EC               | CORP              | JP        |      6100 | NS      | $99594.62     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Dai-Ichi Cutter Kogyo KK       | Dai-Ichi Cutter Kogyo KK                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      2800 | NS      | $26277.52     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Carpenter Tan Holdings Ltd     | Carpenter Tan Holdings Ltd                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |     41500 | NS      | $39666.74     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MOL Hungarian Oil & Gas PLC    | MOL Hungarian Oil & Gas PLC                               | CUSIP: N/A<br>LEI: 213800R83KX5FQFGXS67       | Long             | EC               | CORP              | HU        |     41084 | NS      | $488638.83    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Alpha Bank SA                  | Alpha Bank SA                                             | CUSIP: N/A<br>LEI: 213800DBQIB6VBNU5C64       | Long             | EC               | CORP              | GR        |    324316 | NS      | $1204874.28   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| NEOJAPAN Inc                   | NEOJAPAN Inc                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      1600 | NS      | $16031.86     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Nova Ltd                       | Nova Ltd                                                  | CUSIP: N/A<br>LEI: 529900B2DSWE5V3SC292       | Long             | EC               | CORP              | IL        |       583 | NS      | $253185.24    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Electric Industries L | Sumitomo Electric Industries Ltd                          | CUSIP: N/A<br>LEI: 5493005SP87FL5TOS202       | Long             | EC               | CORP              | JP        |      1700 | NS      | $95191.79     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| TSMC                           | Taiwan Semiconductor Manufacturing Co Ltd                 | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               | CORP              | TW        |    200000 | NS      | $11275087.39  | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| VTech Holdings Ltd             | VTech Holdings Ltd                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |      3200 | NS      | $24169.02     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Xin Point Holdings Ltd         | Xin Point Holdings Ltd                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |     34000 | NS      | $18712.95     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kanzhun Ltd                    | Kanzhun Ltd                                               | CUSIP: 48553T106<br>LEI: 254900F4ZCBITP7L0251 | Long             | EC               | CORP              | CN        |    109290 | NS      | $1463393.10   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Kia Corp                       | Kia Corp                                                  | CUSIP: N/A<br>LEI: 988400V8MJK9N7OI5X76       | Long             | EC               | CORP              | KR        |     22621 | NS      | $2177328.52   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Kinross Gold Corp              | Kinross Gold Corp                                         | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |     30183 | NS      | $922782.68    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Yangzijiang Shipbuilding Holdi | Yangzijiang Shipbuilding Holdings Ltd                     | CUSIP: N/A<br>LEI: 254900Z3JEM14YIGLM66       | Long             | EC               | CORP              | CN        |    172100 | NS      | $511391.60    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Zeal Network SE                | Zeal Network SE                                           | CUSIP: N/A<br>LEI: 391200EIRBXU4TUMMQ46       | Long             | EC               | CORP              | DE        |       608 | NS      | $34392.57     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kioxia Holdings Corp           | Kioxia Holdings Corp                                      | CUSIP: N/A<br>LEI: 35380080RTKRARNH4R73       | Long             | EC               | CORP              | JP        |     23700 | NS      | $3012889.59   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| GEA Group AG                   | GEA Group AG                                              | CUSIP: N/A<br>LEI: 549300PHUU0ZZWO8EO07       | Long             | EC               | CORP              | DE        |      4457 | NS      | $314979.47    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Henkel AG & Co KGaA            | Henkel AG & Co KGaA                                       | CUSIP: N/A<br>LEI: 549300VZCL1HTH4O4Y49       | Long             | EP               | CORP              | DE        |     14678 | NS      | $1127754.87   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Israel Discount Bank Ltd       | Israel Discount Bank Ltd                                  | CUSIP: 465074201<br>LEI: 549300XWZ7BG5G23OF51 | Long             | EC               | CORP              | IL        |      5790 | NS      | $58052.59     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Empresarial San Jose SA  | Grupo Empresarial San Jose SA                             | CUSIP: N/A<br>LEI: 9598002SMUBZZBE58976       | Long             | EC               | CORP              | ES        |      3607 | NS      | $33517.85     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Indorama Ventures PCL          | Indorama Ventures PCL                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TH        |    535300 | NS      | $417663.46    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| GR Engineering Services Ltd    | GR Engineering Services Ltd                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |     29714 | NS      | $80153.09     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Allied Group Ltd               | Allied Group Ltd                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |     50000 | NS      | $17721.57     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Home Invest Belgium SA         | Home Invest Belgium SA                                    | CUSIP: N/A<br>LEI: 54930090SCENRBKUJO67       | Long             | EC               | CORP              | BE        |      1112 | NS      | $23716.21     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| British American Tobacco PLC   | British American Tobacco PLC                              | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               | CORP              | GB        |     38980 | NS      | $2270597.49   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Cia de Saneamento Basico do Es | Cia de Saneamento Basico do Estado de Sao Paulo SABESP    | CUSIP: 20441A102<br>LEI: 254900UOXRZRS2TNWP19 | Long             | EC               | CORP              | BR        |    158685 | NS      | $4841480.59   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Continental AG                 | Continental AG                                            | CUSIP: N/A<br>LEI: 529900A7YD9C0LLXM621       | Long             | EC               | CORP              | DE        |     10124 | NS      | $695960.57    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| UCB SA                         | UCB SA                                                    | CUSIP: N/A<br>LEI: 2138008J191VLSGY5A09       | Long             | EC               | CORP              | BE        |     11409 | NS      | $3436532.70   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| DBS Group Holdings Ltd         | DBS Group Holdings Ltd                                    | CUSIP: N/A<br>LEI: 5493007FKT78NKPM5V55       | Long             | EC               | CORP              | SG        |     60100 | NS      | $2670443.54   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| CHINA OVERSEAS                 | China Overseas Land & Investment Ltd                      | CUSIP: N/A<br>LEI: 529900I6W35GYKRIZ151       | Long             | EC               | CORP              | HK        |    523500 | NS      | $777910.84    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Compal Electronics Inc         | Compal Electronics Inc                                    | CUSIP: N/A<br>LEI: 529900ZPKWFDL21LW166       | Long             | EC               | CORP              | TW        |    670000 | NS      | $575712.62    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Temenos AG                     | Temenos AG                                                | CUSIP: N/A<br>LEI: 5067007NW6550481FH64       | Long             | EC               | CORP              | CH        |       459 | NS      | $39601.73     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Endeavour Mining PLC           | Endeavour Mining PLC                                      | CUSIP: N/A<br>LEI: 529900NI5MXQ91GHXR07       | Long             | EC               | CORP              | GB        |       636 | NS      | $38503.17     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Dassault Aviation SA           | Dassault Aviation SA                                      | CUSIP: N/A<br>LEI: 969500CVFTUT88V8QN95       | Long             | EC               | CORP              | FR        |        48 | NS      | $17803.28     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS Group AG                   | UBS Group AG                                              | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | EC               | CORP              | CH        |     65000 | NS      | $2528110.70   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| TechnipFMC PLC                 | TechnipFMC PLC                                            | CUSIP: N/A<br>LEI: 549300D5I93QWCJTCK36       | Long             | EC               | CORP              | GB        |     30690 | NS      | $2121599.70   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Chartered PLC         | Standard Chartered PLC                                    | CUSIP: N/A<br>LEI: U4LOSYZ7YG4W3S5F2G91       | Long             | EC               | CORP              | GB        |     27967 | NS      | $580810.42    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Vale SA                        | Vale SA                                                   | CUSIP: N/A<br>LEI: 254900SMTWBX7RU2SR20       | Long             | EC               | CORP              | BR        |     43600 | NS      | $694169.14    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Haleon PLC                     | Haleon PLC                                                | CUSIP: 405552100<br>LEI: 549300PSB3WWEODCUP19 | Long             | EC               | CORP              | GB        |    240689 | NS      | $2409296.89   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| HAL Trust                      | HAL Trust                                                 | CUSIP: N/A<br>LEI: 5493000O3IE3DNOY3R07       | Long             | EC               | CORP              | CW        |      2776 | NS      | $560977.38    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| ICICI Bank Ltd                 | ICICI Bank Ltd                                            | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |     27441 | NS      | $710721.90    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Orange SA                      | Orange SA                                                 | CUSIP: N/A<br>LEI: 969500MCOONR8990S771       | Long             | EC               | CORP              | FR        |    198339 | NS      | $4052534.18   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Technotrans SE                 | Technotrans SE                                            | CUSIP: N/A<br>LEI: 5299003IANGEF3R55G44       | Long             | EC               | CORP              | DE        |       922 | NS      | $28772.72     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STMicroelectronics NV          | STMicroelectronics NV                                     | CUSIP: N83574108<br>LEI: 213800Z8NOHIKRI42W10 | Long             | EC               | CORP              | CH        |     84356 | NS      | $2831618.34   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| SA SA INT'L                    | Sa Sa International Holdings Ltd                          | CUSIP: N/A<br>LEI: 529900BAE9P80ACWLV78       | Long             | EC               | CORP              | HK        |    132000 | NS      | $12679.98     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group | Mitsubishi UFJ Financial Group Inc                        | CUSIP: N/A<br>LEI: 353800V2V8PUY9TK3E06       | Long             | EC               | CORP              | JP        |     28100 | NS      | $474768.24    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Shinhan Financial Group Co Ltd | Shinhan Financial Group Co Ltd                            | CUSIP: N/A<br>LEI: 988400EB8A6G49E5KO54       | Long             | EC               | CORP              | KR        |     41289 | NS      | $2380896.69   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Hon Hai Precision Industry Co  | Hon Hai Precision Industry Co Ltd                         | CUSIP: N/A<br>LEI: 30030004CM3GSZXX7O56       | Long             | EC               | CORP              | TW        |     65000 | NS      | $391090.28    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Hoya Corp                      | Hoya Corp                                                 | CUSIP: J22848105<br>LEI: 353800X4VR3BHEUCJB42 | Long             | EC               | CORP              | JP        |       400 | NS      | $68998.38     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Macmahon Holdings Ltd          | Macmahon Holdings Ltd                                     | CUSIP: N/A<br>LEI: 52990031UMN8E6ARZC86       | Long             | EC               | CORP              | AU        |    136065 | NS      | $67806.72     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsui Fudosan Co Ltd          | Mitsui Fudosan Co Ltd                                     | CUSIP: N/A<br>LEI: 353800ND4ZKNZDYKMF33       | Long             | EC               | CORP              | JP        |    130600 | NS      | $1382343.55   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Sony Group Corp                | Sony Group Corp                                           | CUSIP: N/A<br>LEI: 529900R5WX9N2OI2N910       | Long             | EC               | CORP              | JP        |    212900 | NS      | $4391348.89   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Metal Mining Co Ltd   | Sumitomo Metal Mining Co Ltd                              | CUSIP: N/A<br>LEI: 353800CF81IXL9974H84       | Long             | EC               | CORP              | JP        |      2600 | NS      | $150731.49    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Societe Generale SA            | Societe Generale SA                                       | CUSIP: N/A<br>LEI: O2RNE8IBXP4R0TD8PU41       | Long             | EC               | CORP              | FR        |     98166 | NS      | $7167732.28   | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| ST Engineering                 | Singapore Technologies Engineering Ltd                    | CUSIP: N/A<br>LEI: 254900OEXGGWCR24DG90       | Long             | EC               | CORP              | SG        |      7900 | NS      | $67329.11     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Sony Group Corp                | Sony Group Corp                                           | CUSIP: 835699307<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |    137000 | NS      | $2835900.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Raiffeisen Bank International  | Raiffeisen Bank International AG                          | CUSIP: N/A<br>LEI: 9ZHRYM6F437SQJ6OUG95       | Long             | EC               | CORP              | AT        |      9646 | NS      | $412604.28    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Orion Oyj                      | Orion Oyj                                                 | CUSIP: N/A<br>LEI: 74370029VAHCXDR7B745       | Long             | EC               | CORP              | FI        |       309 | NS      | $25058.27     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GSK PLC                        | GSK PLC                                                   | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               | CORP              | GB        |    154639 | NS      | $4240925.65   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Corp                  | Sumitomo Corp                                             | CUSIP: N/A<br>LEI: V82KK8NH1P0JS71FJC05       | Long             | EC               | CORP              | JP        |     12900 | NS      | $480125.16    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiko Bank Ltd/The             | Taiko Bank Ltd/The                                        | CUSIP: N/A<br>LEI: 3538003H3GIODN7ZSJ40       | Long             | EC               | CORP              | JP        |      1500 | NS      | $22158.54     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| accesso Technology Group PLC   | accesso Technology Group PLC                              | CUSIP: N/A<br>LEI: 213800VY7MXUO7STIN73       | Long             | EC               | CORP              | GB        |      6576 | NS      | $21425.64     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AP Moller - Maersk A/S         | AP Moller - Maersk A/S                                    | CUSIP: N/A<br>LEI: 549300D2K6PKKKXVNN73       | Long             | EC               | CORP              | DK        |       157 | NS      | $389085.50    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Fresenius SE & Co KGaA         | Fresenius SE & Co KGaA                                    | CUSIP: N/A<br>LEI: XDFJ0CYCOO1FXRFTQS51       | Long             | EC               | CORP              | DE        |     34289 | NS      | $1756447.29   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Indra Sistemas SA              | Indra Sistemas SA                                         | CUSIP: N/A<br>LEI: 95980020140005308793       | Long             | EC               | CORP              | ES        |     37691 | NS      | $2076907.58   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Fabasoft AG                    | Fabasoft AG                                               | CUSIP: N/A<br>LEI: 391200WHND7OZEFNNL77       | Long             | EC               | CORP              | AT        |      1638 | NS      | $20522.59     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Aisin Corp                     | Aisin Corp                                                | CUSIP: N/A<br>LEI: 3538004IOK08PDY6I723       | Long             | EC               | CORP              | JP        |     11000 | NS      | $152269.87    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Fleetwood Ltd                  | Fleetwood Ltd                                             | CUSIP: N/A<br>LEI: 549300LT0ZUXCGI95197       | Long             | EC               | CORP              | AU        |      7752 | NS      | $8852.22      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Itau Unibanco Holding SA       | Itau Unibanco Holding SA                                  | CUSIP: P5968U113<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | EP               | CORP              | BR        |     86300 | NS      | $724407.85    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudbay Minerals Inc            | Hudbay Minerals Inc                                       | CUSIP: 443628102<br>LEI: 894500LX3TMESP27BE29 | Long             | EC               | CORP              | CA        |     10900 | NS      | $228248.87    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Experian PLC                   | Experian PLC                                              | CUSIP: N/A<br>LEI: 635400RXXHHYT1JTSZ26       | Long             | EC               | CORP              | IE        |     31700 | NS      | $1101840.01   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Aker BP ASA                    | Aker BP ASA                                               | CUSIP: N/A<br>LEI: 549300NFTY73920OYK69       | Long             | EC               | CORP              | NO        |      7705 | NS      | $282872.10    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Venture Corp Ltd               | Venture Corp Ltd                                          | CUSIP: N/A<br>LEI: 254900B1NLZC3J1MAE72       | Long             | EC               | CORP              | SG        |     39100 | NS      | $470385.74    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Snam SpA                       | Snam SpA                                                  | CUSIP: N/A<br>LEI: 8156002278562044AF79       | Long             | EC               | CORP              | IT        |     40374 | NS      | $307065.65    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| dotdigital group plc           | dotdigital group plc                                      | CUSIP: N/A<br>LEI: 2138006LZ7HHQ6DWFD42       | Long             | EC               | CORP              | GB        |     46816 | NS      | $29077.20     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ENEOS Holdings Inc             | ENEOS Holdings Inc                                        | CUSIP: N/A<br>LEI: 3538001KQ5SAOZSQTT44       | Long             | EC               | CORP              | JP        |    102700 | NS      | $916481.78    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Ambev SA                       | Ambev SA                                                  | CUSIP: N/A<br>LEI: 549300TH5Q6VRP8OT012       | Long             | EC               | CORP              | BR        |    418600 | NS      | $1232400.55   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ABN AMRO Bank NV               | ABN AMRO Bank NV                                          | CUSIP: N/A<br>LEI: BFXS5XCH7N0Y05NIXW11       | Long             | EC               | CORP              | NL        |     81640 | NS      | $2611279.41   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Industries | Teva Pharmaceutical Industries Ltd                        | CUSIP: 881624209<br>LEI: 549300BAFGM4RC74ZJ94 | Long             | EC               | CORP              | IL        |    148000 | NS      | $4457760.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Leonardo SpA                   | Leonardo SpA                                              | CUSIP: N/A<br>LEI: 529900X4EEX1U9LN3U39       | Long             | EC               | CORP              | IT        |      7129 | NS      | $478843.33    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Jeronimo Martins SGPS SA       | Jeronimo Martins SGPS SA                                  | CUSIP: N/A<br>LEI: 259400A8SZP10GB5IB19       | Long             | EC               | CORP              | PT        |     13321 | NS      | $319558.88    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Takaoka Toko Co Ltd            | Takaoka Toko Co Ltd                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      1900 | NS      | $58687.81     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Wise PLC                       | Wise PLC                                                  | CUSIP: N/A<br>LEI: 213800LD9XCHIC1C4V71       | Long             | EC               | CORP              | GB        |    135000 | NS      | $1620294.83   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Trifork Group AG               | Trifork Group AG                                          | CUSIP: N/A<br>LEI: 8945004BYZKXPESTBL36       | Long             | EC               | CORP              | CH        |      1308 | NS      | $17308.83     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Lottomatica Group Spa          | Lottomatica Group Spa                                     | CUSIP: N/A<br>LEI: 549300R72LKEGT4EX026       | Long             | EC               | CORP              | IT        |    175000 | NS      | $5051253.55   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Vault Minerals Ltd             | Vault Minerals Ltd                                        | CUSIP: N/A<br>LEI: 5299008TF8KHQ8CIQG34       | Long             | EC               | CORP              | AU        |     51185 | NS      | $154016.46    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Unilever PLC                   | Unilever PLC                                              | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |     18000 | NS      | $1014421.27   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| UniCredit SpA                  | UniCredit SpA                                             | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | EC               | CORP              | IT        |     38177 | NS      | $2750950.13   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Post Holdings Co Ltd     | Japan Post Holdings Co Ltd                                | CUSIP: N/A<br>LEI: 5299003D9N4JBS256X18       | Long             | EC               | CORP              | JP        |     82800 | NS      | $949934.67    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Post Bank Co Ltd         | Japan Post Bank Co Ltd                                    | CUSIP: N/A<br>LEI: 5493006JVO6N2HC2XZ76       | Long             | EC               | CORP              | JP        |      5700 | NS      | $93777.23     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Cognizant Technology Solutions | Cognizant Technology Solutions Corp                       | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |     10710 | NS      | $657058.50    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Bayer AG                       | Bayer AG                                                  | CUSIP: N/A<br>LEI: 549300J4U55H3WP1XT59       | Long             | EC               | CORP              | DE        |     56100 | NS      | $2550377.68   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Grou | Sumitomo Mitsui Financial Group Inc                       | CUSIP: N/A<br>LEI: 35380028MYWPB6AUO129       | Long             | EC               | CORP              | JP        |     35000 | NS      | $1153727.57   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Techtronic Industries Co Ltd   | Techtronic Industries Co Ltd                              | CUSIP: N/A<br>LEI: 549300HZW2SBE758OK89       | Long             | EC               | CORP              | HK        |    156500 | NS      | $2083115.73   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Zumtobel Group AG              | Zumtobel Group AG                                         | CUSIP: N/A<br>LEI: 529900IIODYNYAZ2ID26       | Long             | EC               | CORP              | AT        |      1953 | NS      | $8592.75      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cia de Saneamento Basico do Es | Cia de Saneamento Basico do Estado de Sao Paulo SABESP    | CUSIP: N/A<br>LEI: 254900UOXRZRS2TNWP19       | Long             | EC               | CORP              | BR        |     83377 | NS      | $2553358.58   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Capricorn Metals Ltd           | Capricorn Metals Ltd                                      | CUSIP: N/A<br>LEI: 529900CRG304NUYMOV23       | Long             | EC               | CORP              | AU        |     11583 | NS      | $92216.41     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| WH Group Ltd                   | WH Group Ltd                                              | CUSIP: N/A<br>LEI: 254900A4AYEDRWYSE928       | Long             | EC               | CORP              | HK        |    808500 | NS      | $1065348.16   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| ZTO Express Cayman Inc         | ZTO Express Cayman Inc                                    | CUSIP: N/A<br>LEI: 549300SCJPK3YZJTJR78       | Long             | EC               | CORP              | CN        |     40300 | NS      | $991134.12    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Gym Group PLC                  | Gym Group PLC                                             | CUSIP: N/A<br>LEI: 213800VCU9TBANZIN455       | Long             | EC               | CORP              | GB        |      7912 | NS      | $18366.28     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CES Energy Solutions Corp      | CES Energy Solutions Corp                                 | CUSIP: 15713J104<br>LEI: 984500NF54914EB1B646 | Long             | EC               | CORP              | CA        |      2100 | NS      | $27791.68     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Global SA                | Bunge Global SA                                           | CUSIP: N/A<br>LEI: 254900IVXSV9K0B7PO26       | Long             | EC               | CORP              | US        |     23000 | NS      | $2925600.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Next PLC                       | Next PLC                                                  | CUSIP: N/A<br>LEI: 213800WQD8ECPZP9PH98       | Long             | EC               | CORP              | GB        |       270 | NS      | $45532.02     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Manitou BF SA                  | Manitou BF SA                                             | CUSIP: N/A<br>LEI: 9695008SHP3XTT9QCM25       | Long             | EC               | CORP              | FR        |       530 | NS      | $11939.43     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Heavy Industries Lt | Mitsubishi Heavy Industries Ltd                           | CUSIP: N/A<br>LEI: 353800TJ98PCAZROVE69       | Long             | EC               | CORP              | JP        |     74200 | NS      | $2024127.62   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Nanyo Corp                     | Nanyo Corp                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      1600 | NS      | $14663.20     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Natura Cosmeticos SA           | Natura Cosmeticos SA                                      | CUSIP: N/A<br>LEI: 98450085D7XCFF5A9N75       | Long             | EC               | CORP              | BR        |    465000 | NS      | $933617.77    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Multitude AG                   | Multitude AG                                              | CUSIP: N/A<br>LEI: 74370078YLPFWHE33716       | Long             | EC               | CORP              | CH        |      1918 | NS      | $13519.35     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Nebius Group NV                | Nebius Group NV                                           | CUSIP: N/A<br>LEI: 549300GGZHJ5Q1B18P93       | Long             | EC               | CORP              | NL        |     38380 | NS      | $3982308.80   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd     | Samsung Electronics Co Ltd                                | CUSIP: 796050888<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |       880 | NS      | $2567273.57   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                | AstraZeneca PLC                                           | CUSIP: N/A<br>LEI: PY6ZZQWO2IZFZC3IOL08       | Long             | EC               | CORP              | GB        |     25977 | NS      | $5073744.59   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Hapoalim BM               | Bank Hapoalim BM                                          | CUSIP: N/A<br>LEI: B6ARUI4946ST4S7WOU88       | Long             | EC               | CORP              | IL        |     10803 | NS      | $252859.22    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Group Ltd                  | AIA Group Ltd                                             | CUSIP: N/A<br>LEI: ZP5ILWVSYE4LJGMMVD57       | Long             | EC               | CORP              | HK        |    389400 | NS      | $4374460.86   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Sekisui Kasei Co Ltd           | Sekisui Kasei Co Ltd                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      5400 | NS      | $15161.63     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Advantest Corp                 | Advantest Corp                                            | CUSIP: N/A<br>LEI: 353800EMK32PDKS9XR54       | Long             | EC               | CORP              | JP        |      5300 | NS      | $717067.03    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Yokowo Co Ltd                  | Yokowo Co Ltd                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      2300 | NS      | $44216.36     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Rentokil Initial PLC           | Rentokil Initial PLC                                      | CUSIP: G7494G105<br>LEI: 549300VN4WV7Z6T14K68 | Long             | EC               | CORP              | GB        |    620546 | NS      | $3858302.58   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Zhongsheng Group Holdings Ltd  | Zhongsheng Group Holdings Ltd                             | CUSIP: N/A<br>LEI: 3003005VYMEBAJNJ2Y26       | Long             | EC               | CORP              | CN        |    452500 | NS      | $479191.16    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Akzo Nobel NV                  | Akzo Nobel NV                                             | CUSIP: N/A<br>LEI: 724500XYIJUGXAA5QD70       | Long             | EC               | CORP              | NL        |     13100 | NS      | $751749.03    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Baidu Inc                      | Baidu Inc                                                 | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | CN        |     22160 | NS      | $2469067.20   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Corp                | Brookfield Corp                                           | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               | CORP              | CA        |     80000 | NS      | $3237600.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Cairo Communication SpA        | Cairo Communication SpA                                   | CUSIP: N/A<br>LEI: 8156000BA1E707067579       | Long             | EC               | CORP              | IT        |      7053 | NS      | $21037.84     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Brother Industries Ltd         | Brother Industries Ltd                                    | CUSIP: 114813108<br>LEI: 549300O5FACQ67KI6R92 | Long             | EC               | CORP              | JP        |      4400 | NS      | $80751.31     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays PLC                   | Barclays PLC                                              | CUSIP: 06738E204<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EC               | CORP              | GB        |     52328 | NS      | $1107260.48   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| AKWEL SADIR                    | AKWEL SADIR                                               | CUSIP: N/A<br>LEI: 969500SVR0D7W9RQ6751       | Long             | EC               | CORP              | FR        |       736 | NS      | $6037.91      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BBVA                           | Banco Bilbao Vizcaya Argentaria SA                        | CUSIP: N/A<br>LEI: K8MS7FD7N5Z2WQ51AZ71       | Long             | EC               | CORP              | ES        |     62059 | NS      | $1354525.98   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Aristocrat Leisure Ltd         | Aristocrat Leisure Ltd                                    | CUSIP: N/A<br>LEI: 529900TE2HO3OZKYKC27       | Long             | EC               | CORP              | AU        |     85311 | NS      | $2710701.37   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Alcon AG                       | Alcon AG                                                  | CUSIP: N/A<br>LEI: 549300LDT5AP8S0NBM78       | Long             | EC               | CORP              | CH        |     18100 | NS      | $1357878.14   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Cellnex Telecom SA             | Cellnex Telecom SA                                        | CUSIP: N/A<br>LEI: 5493008T4YG3AQUI7P67       | Long             | EC               | CORP              | ES        |     20487 | NS      | $665164.13    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Accenture PLC                  | Accenture PLC                                             | CUSIP: N/A<br>LEI: 5493000EWHDSR3MZWH98       | Long             | EC               | CORP              | IE        |      6400 | NS      | $1269056.00   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity FedFund    | BlackRock Liquidity FedFund                               | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |  13383784 | NS      | $13383784.21  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Martinrea International Inc    | Martinrea International Inc                               | CUSIP: 573459104<br>LEI: 5493004U3PUN21MLJG41 | Long             | EC               | CORP              | CA        |      6179 | NS      | $41486.49     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Diageo PLC                     | Diageo PLC                                                | CUSIP: N/A<br>LEI: 213800ZVIELEA55JMJ32       | Long             | EC               | CORP              | GB        |     49700 | NS      | $923435.17    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Imperial Brands PLC            | Imperial Brands PLC                                       | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42       | Long             | EC               | CORP              | GB        |       666 | NS      | $27105.66     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Canadian Natural Resources Ltd | Canadian Natural Resources Ltd                            | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |     80000 | NS      | $3902523.18   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| SCREEN Holdings Co Ltd         | SCREEN Holdings Co Ltd                                    | CUSIP: N/A<br>LEI: 353800ND89FTQ9XQ0R07       | Long             | EC               | CORP              | JP        |       600 | NS      | $35351.70     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Pro Medicus Ltd                | Pro Medicus Ltd                                           | CUSIP: N/A<br>LEI: 98450085A903D1BMFF27       | Long             | EC               | CORP              | AU        |      4170 | NS      | $344507.98    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco do Brasil SA             | Banco do Brasil SA                                        | CUSIP: N/A<br>LEI: QE0Q0253K88YAGNPE356       | Long             | EC               | CORP              | BR        |    160500 | NS      | $714524.55    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK PLC                        | GSK PLC                                                   | CUSIP: 37733W204<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |     28081 | NS      | $1549790.39   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Resona Holdings Inc            | Resona Holdings Inc                                       | CUSIP: N/A<br>LEI: 52990067JE75XZCYYT81       | Long             | EC               | CORP              | JP        |    115200 | NS      | $1281826.58   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| OKP Holdings Ltd               | OKP Holdings Ltd                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SG        |     93800 | NS      | $47028.18     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Genmab A/S                     | Genmab A/S                                                | CUSIP: N/A<br>LEI: 529900MTJPDPE4MHJ122       | Long             | EC               | CORP              | DK        |      1103 | NS      | $295120.07    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Santander SA             | Banco Santander SA                                        | CUSIP: N/A<br>LEI: 5493006QMFDDMYWIAM13       | Long             | EC               | CORP              | ES        |     15076 | NS      | $170590.58    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Ericsson                       | Telefonaktiebolaget LM Ericsson                           | CUSIP: N/A<br>LEI: 549300W9JLPW15XIFM52       | Long             | EC               | CORP              | SE        |     13299 | NS      | $150639.56    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| ID Holdings Corp               | ID Holdings Corp                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      3200 | NS      | $19130.23     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Delta Electronics Inc          | Delta Electronics Inc                                     | CUSIP: N/A<br>LEI: 529900UVZWNWGDLJSM52       | Long             | EC               | CORP              | TW        |     65000 | NS      | $2893000.36   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Pan Pacific International Hold | Pan Pacific International Holdings Corp                   | CUSIP: N/A<br>LEI: 529900QLHJM2E18A5763       | Long             | EC               | CORP              | JP        |    377500 | NS      | $2315669.22   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Disco Corp                     | Disco Corp                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |       500 | NS      | $200348.43    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Giordano International Ltd     | Giordano International Ltd                                | CUSIP: N/A<br>LEI: 5299002Q4JRP5LUE6V15       | Long             | EC               | CORP              | HK        |    128000 | NS      | $23868.27     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Carnival PLC                   | Carnival PLC                                              | CUSIP: 14365C103<br>LEI: 4DR1VPDQMHD3N3QW8W95 | Long             | EC               | CORP              | US        |      8473 | NS      | $218349.21    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Leifheit AG                    | Leifheit AG                                               | CUSIP: N/A<br>LEI: 529900DBX574P554QO57       | Long             | EC               | CORP              | DE        |      1203 | NS      | $20766.27     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Galaxy Entertainment Group Ltd | Galaxy Entertainment Group Ltd                            | CUSIP: N/A<br>LEI: 549300ZSEBV3HR826S10       | Long             | EC               | CORP              | HK        |    234000 | NS      | $1054929.91   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Steel Works Ltd/The      | Japan Steel Works Ltd/The                                 | CUSIP: N/A<br>LEI: 529900AWFTILIHHO0936       | Long             | EC               | CORP              | JP        |     36600 | NS      | $1992915.53   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Jardine Matheson Holdings Ltd  | Jardine Matheson Holdings Ltd                             | CUSIP: G50736100<br>LEI: 2138009KENVUNWOLPK41 | Long             | EC               | CORP              | HK        |      3000 | NS      | $215359.10    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Rakyat Indonesia Persero  | Bank Rakyat Indonesia Persero Tbk PT                      | CUSIP: N/A<br>LEI: 254900HB6S4B12GBNP64       | Long             | EC               | CORP              | ID        |   3989900 | NS      | $786296.18    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Groupe Bruxelles Lambert NV    | Groupe Bruxelles Lambert NV                               | CUSIP: N/A<br>LEI: 549300KV0ZEHT2KVU152       | Long             | EC               | CORP              | BE        |       196 | NS      | $17716.86     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Eni SpA                        | Eni SpA                                                   | CUSIP: N/A<br>LEI: BUCRF72VH5RBN7X3VL35       | Long             | EC               | CORP              | IT        |     33248 | NS      | $944124.53    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Leumi Le-Israel BM        | Bank Leumi Le-Israel BM                                   | CUSIP: N/A<br>LEI: 7JDSZWRGUQY2DSTWCR57       | Long             | EC               | CORP              | IL        |      3238 | NS      | $72159.66     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Klepierre SA                   | Klepierre SA                                              | CUSIP: N/A<br>LEI: 969500PB4U31KEFHZ621       | Long             | EC               | CORP              | FR        |     11863 | NS      | $447131.05    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| SLB Ltd                        | SLB Ltd                                                   | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |     65260 | NS      | $3353711.40   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Halfords Group PLC             | Halfords Group PLC                                        | CUSIP: N/A<br>LEI: 54930086FKBWWJIOBI79       | Long             | EC               | CORP              | GB        |     21670 | NS      | $37196.01     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SingTel                        | Singapore Telecommunications Ltd                          | CUSIP: Y79985209<br>LEI: 2549003XJKIQO8YDYD89 | Long             | EC               | CORP              | SG        |     59200 | NS      | $229172.15    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Frencken Group Ltd             | Frencken Group Ltd                                        | CUSIP: Y22860103<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |    177900 | NS      | $288630.95    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| CBo Territoria                 | CBo Territoria                                            | CUSIP: N/A<br>LEI: 969500G118PJ7KZ4HQ90       | Long             | EC               | CORP              | FR        |      4714 | NS      | $21544.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Baidu Inc                      | Baidu Inc                                                 | CUSIP: N/A<br>LEI: 254900AL64IANZYI1E02       | Long             | EC               | CORP              | CN        |     34250 | NS      | $476154.33    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Galp Energia SGPS SA           | Galp Energia SGPS SA                                      | CUSIP: N/A<br>LEI: 2138003319Y7NM75FG53       | Long             | EC               | CORP              | PT        |    151887 | NS      | $3692620.05   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Cia Energetica de Minas Gerais | Cia Energetica de Minas Gerais                            | CUSIP: N/A<br>LEI: 254900W703PXLDSEM056       | Long             | EP               | CORP              | BR        |    429400 | NS      | $1043687.75   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloetta AB                     | Cloetta AB                                                | CUSIP: N/A<br>LEI: 549300CSLHPO6Y1AZN37       | Long             | EC               | CORP              | SE        |      9157 | NS      | $51953.78     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Hankook Tire & Technology Co L | Hankook Tire & Technology Co Ltd                          | CUSIP: N/A<br>LEI: 9884001BIEVM09M7AH02       | Long             | EC               | CORP              | KR        |     20251 | NS      | $722234.58    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Kongsberg Automotive ASA       | Kongsberg Automotive ASA                                  | CUSIP: N/A<br>LEI: 5967007LIEEXZXJDCG21       | Long             | EC               | CORP              | NO        |     94473 | NS      | $18909.94     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| KB Financial Group Inc         | KB Financial Group Inc                                    | CUSIP: N/A<br>LEI: 529900TKE4MXG3Q6GW86       | Long             | EC               | CORP              | KR        |     40970 | NS      | $3832954.40   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| China Hongqiao Group Ltd       | China Hongqiao Group Ltd                                  | CUSIP: N/A<br>LEI: 3003009Q4IBFSDE24571       | Long             | EC               | CORP              | CN        |    642000 | NS      | $2924802.23   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| B3 SA - Brasil Bolsa Balcao    | B3 SA - Brasil Bolsa Balcao                               | CUSIP: N/A<br>LEI: 4GTK5S46E6H318LMDS44       | Long             | EC               | CORP              | BR        |    231900 | NS      | $823761.31    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Shinyaku Co Ltd         | Nippon Shinyaku Co Ltd                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      5300 | NS      | $172850.36    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Ono Pharmaceutical Co Ltd      | Ono Pharmaceutical Co Ltd                                 | CUSIP: N/A<br>LEI: 529900G26L4NG4GFJZ86       | Long             | EC               | CORP              | JP        |      9900 | NS      | $158194.40    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Schwab Emerging Markets Equity | Schwab Emerging Markets Equity ETF                        | CUSIP: 808524706<br>LEI: 549300BX5O2DW26SGM55 | Long             | EC               | RF                | US        |   3621026 | NS      | $119312806.70 | 12.90%            |  |  |  | No            |                  1 | On Loan: No      |
| Schwab International Equity ET | Schwab International Equity ETF                           | CUSIP: 808524805<br>LEI: 5493003PP4X6ZGIBL520 | Long             | EC               | RF                | US        |  12121046 | NS      | $299995888.50 | 32.42%            |  |  |  | No            |                  1 | On Loan: No      |
| Melcor Developments Ltd        | Melcor Developments Ltd                                   | CUSIP: 585467103<br>LEI: 549300RYMI0PJCFQBB05 | Long             | EC               | CORP              | CA        |      2000 | NS      | $26123.21     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Wartsila OYJ Abp               | Wartsila OYJ Abp                                          | CUSIP: N/A<br>LEI: 743700G7A9J1PHM3X223       | Long             | EC               | CORP              | FI        |     22113 | NS      | $826846.16    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Arcos Dorados Holdings Inc     | Arcos Dorados Holdings Inc                                | CUSIP: N/A<br>LEI: 54930023P2MIZN13DQ85       | Long             | EC               | CORP              | UY        |     59055 | NS      | $487203.75    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                      | Linde PLC                                                 | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | US        |      6170 | NS      | $3058839.20   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd                  | HDFC Bank Ltd                                             | CUSIP: N/A<br>LEI: 335800ZQ6I4E2JXENC50       | Long             | EC               | CORP              | IN        |     89675 | NS      | $713039.17    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Inmocemento SA                 | Inmocemento SA                                            | CUSIP: N/A<br>LEI: 959800FQZ6YAVHJPVE12       | Long             | EC               | CORP              | ES        |      2384 | NS      | $10462.95     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Johnson Electric Holdings Ltd  | Johnson Electric Holdings Ltd                             | CUSIP: N/A<br>LEI: 529900EDYRQ6K25JEC80       | Long             | EC               | CORP              | HK        |     13000 | NS      | $39046.60     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DSM-Firmenich AG               | DSM-Firmenich AG                                          | CUSIP: N/A<br>LEI: 506700G44V67MPM4BI12       | Long             | EC               | CORP              | CH        |      9200 | NS      | $657073.04    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Brookfield Corp                | Brookfield Corp                                           | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               | CORP              | CA        |     70500 | NS      | $2856793.19   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Boliden AB                     | Boliden AB                                                | CUSIP: N/A<br>LEI: 21380059QU7IM1ONDJ56       | Long             | EC               | CORP              | SE        |     13167 | NS      | $698919.08    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| China Xinhua Education Group L | China Xinhua Education Group Ltd                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |    150000 | NS      | $11209.12     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Banca Mediolanum SpA           | Banca Mediolanum SpA                                      | CUSIP: N/A<br>LEI: 7LVZJ6XRIE7VNZ4UBX81       | Long             | EC               | CORP              | IT        |     14793 | NS      | $300453.69    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| BW Offshore Ltd                | BW Offshore Ltd                                           | CUSIP: N/A<br>LEI: 2138008LFKH8V2EOA915       | Long             | EC               | CORP              | NO        |     13379 | NS      | $71579.81     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Orsero SpA                     | Orsero SpA                                                | CUSIP: N/A<br>LEI: 8156001895E0F4E7A803       | Long             | EC               | CORP              | IT        |      3283 | NS      | $57310.12     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Globant SA                     | Globant SA                                                | CUSIP: N/A<br>LEI: 2221008DCMSPYS42DS88       | Long             | EC               | CORP              | LU        |     11455 | NS      | $528190.05    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Nemetschek SE                  | Nemetschek SE                                             | CUSIP: N/A<br>LEI: 529900R0S2IX1S358J38       | Long             | EC               | CORP              | DE        |     18500 | NS      | $1361661.69   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke Philips NV         | Koninklijke Philips NV                                    | CUSIP: N/A<br>LEI: H1FJE8H61JGM1JSGM897       | Long             | EC               | CORP              | NL        |      9388 | NS      | $257135.76    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Chubb Ltd                      | Chubb Ltd                                                 | CUSIP: N/A<br>LEI: E0JAN6VLUDI1HITHT809       | Long             | EC               | CORP              | CH        |      6700 | NS      | $2183731.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| B2Gold Corp                    | B2Gold Corp                                               | CUSIP: 11777Q209<br>LEI: 549300F7OK456M5NLM05 | Long             | EC               | CORP              | CA        |      8700 | NS      | $39525.56     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Rolls-Royce Holdings PLC       | Rolls-Royce Holdings PLC                                  | CUSIP: N/A<br>LEI: 213800EC7997ZBLZJH69       | Long             | EC               | CORP              | GB        |    722494 | NS      | $11033099.80  | 1.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Trend Micro Inc/Japan          | Trend Micro Inc/Japan                                     | CUSIP: N/A<br>LEI: 3538005O5UJ5RNAGVE16       | Long             | EC               | CORP              | JP        |     12900 | NS      | $430785.92    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| BHP Group Ltd                  | BHP Group Ltd                                             | CUSIP: N/A<br>LEI: WZE1WSENV6JSZFK0JC28       | Long             | EC               | CORP              | AU        |      9712 | NS      | $354859.25    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Orion Corp/Republic of Korea   | Orion Corp/Republic of Korea                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |      8490 | NS      | $714494.37    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Capstone Copper Corp           | Capstone Copper Corp                                      | CUSIP: 14071L108<br>LEI: 549300III6KGKKC42W63 | Long             | EC               | CORP              | CA        |      5600 | NS      | $42228.45     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Mizuho Financial Group Inc     | Mizuho Financial Group Inc                                | CUSIP: N/A<br>LEI: 353800CI5L6DDAN5XZ33       | Long             | EC               | CORP              | JP        |    125600 | NS      | $5013305.03   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Midland Holdings Ltd           | Midland Holdings Ltd                                      | CUSIP: N/A<br>LEI: 5493007HC5HKY6RXSQ87       | Long             | EC               | CORP              | HK        |    204000 | NS      | $73052.56     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| New Hope Service Holdings Ltd  | New Hope Service Holdings Ltd                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |     71000 | NS      | $17389.80     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SCB X PCL                      | SCB X PCL                                                 | CUSIP: N/A<br>LEI: 254900TG41KIWX7VDO42       | Long             | EC               | CORP              | TH        |    178000 | NS      | $782303.72    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco BTG Pactual SA           | Banco BTG Pactual SA                                      | CUSIP: N/A<br>LEI: ZXLTQRYIK6IJH3R0IK66       | Long             | EC               | CORP              | BR        |    107655 | NS      | $1175718.09   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd      | Alibaba Group Holding Ltd                                 | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | HK        |     17430 | NS      | $2186767.80   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| L'Oreal SA                     | L'Oreal SA                                                | CUSIP: N/A<br>LEI: 529900JI1GG6F7RKVI53       | Long             | EC               | CORP              | FR        |      2903 | NS      | $1190425.99   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Emak SpA                       | Emak SpA                                                  | CUSIP: N/A<br>LEI: 815600A9C09D82FF2B66       | Long             | EC               | CORP              | IT        |     21988 | NS      | $21229.87     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Palfinger AG                   | Palfinger AG                                              | CUSIP: N/A<br>LEI: 529900IFAV83BX8O1O91       | Long             | EC               | CORP              | AT        |       231 | NS      | $9127.84      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CTS Co Ltd                     | CTS Co Ltd                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      4600 | NS      | $26404.45     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ichikoh Industries Ltd         | Ichikoh Industries Ltd                                    | CUSIP: N/A<br>LEI: 353800KP9IZ3RU1GNE32       | Long             | EC               | CORP              | JP        |      4900 | NS      | $15543.47     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kita-Nippon Bank Ltd/The       | Kita-Nippon Bank Ltd/The                                  | CUSIP: N/A<br>LEI: 353800BEJYJ7JD023D06       | Long             | EC               | CORP              | JP        |       800 | NS      | $23294.10     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Nomura Holdings Inc            | Nomura Holdings Inc                                       | CUSIP: N/A<br>LEI: 549300B3CEAHYG7K8164       | Long             | EC               | CORP              | JP        |     32200 | NS      | $254689.31    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Weichai Power Co Ltd           | Weichai Power Co Ltd                                      | CUSIP: N/A<br>LEI: 529900OKTPKBG85F9502       | Long             | EC               | CORP              | CN        |    141000 | NS      | $502623.25    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Makiya Co Ltd                  | Makiya Co Ltd                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      1100 | NS      | $8365.37      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Denso Corp                     | Denso Corp                                                | CUSIP: N/A<br>LEI: 549300RYPA10CQM3QK38       | Long             | EC               | CORP              | JP        |     43100 | NS      | $535133.09    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Valterra Platinum Ltd          | Valterra Platinum Ltd                                     | CUSIP: N/A<br>LEI: 529900RORCZ0E5S5FX81       | Long             | EC               | CORP              | ZA        |      7435 | NS      | $639166.06    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Yokogawa Electric Corp         | Yokogawa Electric Corp                                    | CUSIP: N/A<br>LEI: 529900MV0U7C9WWF4L22       | Long             | EC               | CORP              | JP        |      4500 | NS      | $139392.53    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Cogstate Ltd                   | Cogstate Ltd                                              | CUSIP: N/A<br>LEI: 254900VP9WAWA180NC18       | Long             | EC               | CORP              | AU        |     15498 | NS      | $23280.31     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Mazda Motor Corp               | Mazda Motor Corp                                          | CUSIP: N/A<br>LEI: 52990044YZJLICDQKK92       | Long             | EC               | CORP              | JP        |     52500 | NS      | $354419.38    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| ABB Ltd                        | ABB Ltd                                                   | CUSIP: N/A<br>LEI: 5493000LKVGOO9PELI61       | Long             | EC               | CORP              | CH        |     23588 | NS      | $1918475.32   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                 | BNP Paribas SA                                            | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |     13744 | NS      | $1309273.37   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| PDD Holdings Inc               | PDD Holdings Inc                                          | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | IE        |     10440 | NS      | $1066759.20   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| PING AN                        | Ping An Insurance Group Co of China Ltd                   | CUSIP: N/A<br>LEI: 529900M9MC28JLN35U89       | Long             | EC               | CORP              | CN        |     77000 | NS      | $600475.34    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Nordex SE                      | Nordex SE                                                 | CUSIP: N/A<br>LEI: 529900HVDYCUWVD0OE76       | Long             | EC               | CORP              | DE        |      2157 | NS      | $113607.68    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GMO GlobalSign Holdings KK     | GMO GlobalSign Holdings KK                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |       900 | NS      | $11051.03     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Piquadro SpA                   | Piquadro SpA                                              | CUSIP: N/A<br>LEI: 815600D3E9B19E14FC79       | Long             | EC               | CORP              | IT        |      6750 | NS      | $20282.88     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Richter Gedeon Nyrt            | Richter Gedeon Nyrt                                       | CUSIP: N/A<br>LEI: 549300J6ZJW5IH4WEE46       | Long             | EC               | CORP              | HU        |     21845 | NS      | $780561.47    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Yara International ASA         | Yara International ASA                                    | CUSIP: N/A<br>LEI: 213800WKOUWXWFJ5Z514       | Long             | EC               | CORP              | NO        |      6377 | NS      | $371205.71    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Whitehaven Coal Ltd            | Whitehaven Coal Ltd                                       | CUSIP: N/A<br>LEI: 529900WCZ4I6ZO3RRP86       | Long             | EC               | CORP              | AU        |     13388 | NS      | $84609.67     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SITC International Holdings Co | SITC International Holdings Co Ltd                        | CUSIP: N/A<br>LEI: 529900JUV4MOM9CE3V12       | Long             | EC               | CORP              | HK        |    116043 | NS      | $512296.19    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke Ahold Delhaize NV  | Koninklijke Ahold Delhaize NV                             | CUSIP: N/A<br>LEI: 724500C9GNBV20UYRX36       | Long             | EC               | CORP              | NL        |     30968 | NS      | $1445710.99   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie Financiere Richemont SA    | Cie Financiere Richemont SA                               | CUSIP: N/A<br>LEI: 549300YIPGJ6UX2QPS51       | Long             | EC               | CORP              | CH        |      6021 | NS      | $1072899.27   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Natural Food International Hol | Natural Food International Holding Ltd                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |    174681 | NS      | $33219.80     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ASM International NV           | ASM International NV                                      | CUSIP: N/A<br>LEI: 7245001I22ND6ZFHX623       | Long             | EC               | CORP              | NL        |       380 | NS      | $289457.77    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| BlueScope Steel Ltd            | BlueScope Steel Ltd                                       | CUSIP: N/A<br>LEI: 529900H6UQI16XACWC95       | Long             | EC               | CORP              | AU        |      5525 | NS      | $98260.87     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Bonterra Energy Corp           | Bonterra Energy Corp                                      | CUSIP: 098546104<br>LEI: 529900VJOU2CH2WZ6949 | Long             | EC               | CORP              | CA        |      4600 | NS      | $21692.19     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Aumovio SE                     | Aumovio SE                                                | CUSIP: N/A<br>LEI: 391200IGI9RQ7VTOK384       | Long             | EC               | CORP              | DE        |      1939 | NS      | $74895.12     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                | AstraZeneca PLC                                           | CUSIP: N/A<br>LEI: PY6ZZQWO2IZFZC3IOL08       | Long             | EC               | CORP              | GB        |      2712 | NS      | $534860.64    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Vestas Wind Systems A/S        | Vestas Wind Systems A/S                                   | CUSIP: N/A<br>LEI: 549300DYMC8BGZZC8844       | Long             | EC               | CORP              | DK        |      1497 | NS      | $44820.94     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Wizz Air Holdings Plc          | Wizz Air Holdings Plc                                     | CUSIP: N/A<br>LEI: 213800COXGZCORLJZA85       | Long             | EC               | CORP              | HU        |     39614 | NS      | $465067.16    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| BE Semiconductor Industries NV | BE Semiconductor Industries NV                            | CUSIP: N/A<br>LEI: 7245007A1YFLI2GNYX06       | Long             | EC               | CORP              | NL        |       466 | NS      | $98320.85     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| WuXi AppTec Co Ltd             | WuXi AppTec Co Ltd                                        | CUSIP: N/A<br>LEI: 254900OEPQLZSPLN9175       | Long             | EC               | CORP              | CN        |    173958 | NS      | $2492377.67   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Dynacor Group Inc              | Dynacor Group Inc                                         | CUSIP: 26780B106<br>LEI: 529900UPKS0A0VKOJK73 | Long             | EC               | CORP              | CA        |      5600 | NS      | $23589.96     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Galderma Group AG              | Galderma Group AG                                         | CUSIP: N/A<br>LEI: 89450001OK6O8ELQ4584       | Long             | EC               | CORP              | CH        |      1033 | NS      | $200257.70    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Queen's Road Capital Investmen | Queen's Road Capital Investment Ltd                       | CUSIP: N/A<br>LEI: 529900JA5XZVELG6YM13       | Long             | EC               | CORP              | HK        |      1300 | NS      | $13008.41     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Wix.com Ltd                    | Wix.com Ltd                                               | CUSIP: N/A<br>LEI: 5493008P6N29Q1AG9464       | Long             | EC               | CORP              | IL        |      2559 | NS      | $230489.13    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Russel Metals Inc              | Russel Metals Inc                                         | CUSIP: 781903604<br>LEI: 5493005F9VPHFO17OV54 | Long             | EC               | CORP              | CA        |      3100 | NS      | $106965.71    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Rheon Automatic Machinery Co L | Rheon Automatic Machinery Co Ltd                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      3700 | NS      | $34152.58     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SBM Offshore NV                | SBM Offshore NV                                           | CUSIP: N/A<br>LEI: 549300RDGCRYZ5QE6513       | Long             | EC               | CORP              | NL        |     69559 | NS      | $2766482.74   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| REC Ltd                        | REC Ltd                                                   | CUSIP: N/A<br>LEI: 335800B4YRYWAMIJZ374       | Long             | EC               | CORP              | IN        |    115981 | NS      | $375961.86    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Odfjell Technology Ltd         | Odfjell Technology Ltd                                    | CUSIP: N/A<br>LEI: 529900ZYHGCPTAD1R169       | Long             | EC               | CORP              | GB        |      1907 | NS      | $14528.34     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cementir Holding NV            | Cementir Holding NV                                       | CUSIP: N/A<br>LEI: 8156008B101B97A43B02       | Long             | EC               | CORP              | IT        |    142880 | NS      | $2554578.50   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Recruit Holdings Co Ltd        | Recruit Holdings Co Ltd                                   | CUSIP: N/A<br>LEI: 353800R2LRSMVVC4I806       | Long             | EC               | CORP              | JP        |     14600 | NS      | $631609.40    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Tesco PLC                      | Tesco PLC                                                 | CUSIP: N/A<br>LEI: 2138002P5RNKC5W2JZ46       | Long             | EC               | CORP              | GB        |    400000 | NS      | $2522117.75   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| NatWest Group PLC              | NatWest Group PLC                                         | CUSIP: N/A<br>LEI: 2138005O9XJIJN4JPN90       | Long             | EC               | CORP              | GB        |    119288 | NS      | $885117.69    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Kaspi.KZ JSC                   | Kaspi.KZ JSC                                              | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               | CORP              | KZ        |     24648 | NS      | $1825677.36   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Kanamoto Co Ltd                | Kanamoto Co Ltd                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |       900 | NS      | $24960.11     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MTN Group Ltd                  | MTN Group Ltd                                             | CUSIP: N/A<br>LEI: 2549009JD6Q6XHZS5E05       | Long             | EC               | CORP              | ZA        |    338101 | NS      | $3923139.80   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Corp                | Mitsubishi Corp                                           | CUSIP: N/A<br>LEI: KVIPTY4PULAPGC1VVD26       | Long             | EC               | CORP              | JP        |      4200 | NS      | $144233.08    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Exchange Group Inc       | Japan Exchange Group Inc                                  | CUSIP: N/A<br>LEI: 353800578ADEGIJTVW07       | Long             | EC               | CORP              | JP        |    314500 | NS      | $3651616.90   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd     | Samsung Electronics Co Ltd                                | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |     38195 | NS      | $4290445.85   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Novartis AG                    | Novartis AG                                               | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |     16557 | NS      | $2513841.75   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd           | Tencent Holdings Ltd                                      | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | CN        |     66400 | NS      | $4191958.35   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Scales Corp Ltd                | Scales Corp Ltd                                           | CUSIP: N/A<br>LEI: 254900IWZH7OUG9T2R86       | Long             | EC               | CORP              | NZ        |      3335 | NS      | $11418.97     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Heineken NV                    | Heineken NV                                               | CUSIP: N/A<br>LEI: 724500K5PTPSST86UQ23       | Long             | EC               | CORP              | NL        |     12500 | NS      | $961921.31    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Kuriyama Holdings Corp         | Kuriyama Holdings Corp                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |       900 | NS      | $10651.01     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| China Merchants Bank Co Ltd    | China Merchants Bank Co Ltd                               | CUSIP: Y14896107<br>LEI: 549300MKO5B60FFIHF58 | Long             | EC               | CORP              | CN        |    164700 | NS      | $939875.52    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Sunbelt Rentals Holdings Inc   | Sunbelt Rentals Holdings Inc                              | CUSIP: 866966104<br>LEI: 529900W4BQDNMAOSRA49 | Long             | EC               | CORP              | US        |     27970 | NS      | $1786106.18   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Norsk Hydro ASA                | Norsk Hydro ASA                                           | CUSIP: N/A<br>LEI: 549300N1SDN71ZZ8BO45       | Long             | EC               | CORP              | NO        |      5865 | NS      | $62188.77     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JAC Recruitment Co Ltd         | JAC Recruitment Co Ltd                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      2200 | NS      | $11823.93     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Idemitsu Kosan Co Ltd          | Idemitsu Kosan Co Ltd                                     | CUSIP: N/A<br>LEI: 549300P0R46FF6DUA630       | Long             | EC               | CORP              | JP        |     40300 | NS      | $391783.03    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| MonotaRO Co Ltd                | MonotaRO Co Ltd                                           | CUSIP: N/A<br>LEI: 5299005JUER5ANXWTC33       | Long             | EC               | CORP              | JP        |    119000 | NS      | $1279281.07   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Man Wah Holdings Ltd           | Man Wah Holdings Ltd                                      | CUSIP: N/A<br>LEI: 52990005BW6K71UPKX41       | Long             | EC               | CORP              | HK        |    771200 | NS      | $426924.58    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| PC Partner Group Ltd           | PC Partner Group Ltd                                      | CUSIP: N/A<br>LEI: 529900MAAHYMVMP4UX68       | Long             | EC               | CORP              | HK        |     16000 | NS      | $11386.01     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Prosus NV                      | Prosus NV                                                 | CUSIP: N/A<br>LEI: 635400Z5LQ5F9OLVT688       | Long             | EC               | CORP              | NL        |     45090 | NS      | $2061209.85   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Co           | Saudi Arabian Oil Co                                      | CUSIP: N/A<br>LEI: 5586006WD91QHB7J4X50       | Long             | EC               | CORP              | SA        |    101250 | NS      | $738282.72    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Michelin                       | Cie Generale des Etablissements Michelin SCA              | CUSIP: N/A<br>LEI: 549300SOSI58J6VIW052       | Long             | EC               | CORP              | FR        |     38800 | NS      | $1321236.69   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Magnum Ice Cream Co NV/The     | Magnum Ice Cream Co NV/The                                | CUSIP: N/A<br>LEI: 25490052LLF3XH6G9847       | Long             | EC               | CORP              | NL        |      4195 | NS      | $61916.11     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Constellation Software Inc/Can | Constellation Software Inc/Canada                         | CUSIP: 21037X100<br>LEI: 549300B6PYHMCTDWQV29 | Long             | EC               | CORP              | CA        |      2300 | NS      | $4037507.73   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Genesis Minerals Ltd           | Genesis Minerals Ltd                                      | CUSIP: N/A<br>LEI: 894500AK5BVRCNP0FP48       | Long             | EC               | CORP              | AU        |      9070 | NS      | $38623.11     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Naturhouse Health SAU          | Naturhouse Health SAU                                     | CUSIP: N/A<br>LEI: 95980007WW7TNTYX8B36       | Long             | EC               | CORP              | ES        |       579 | NS      | $1713.90      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Spotify Technology SA          | Spotify Technology SA                                     | CUSIP: N/A<br>LEI: 549300B4X0JHWV0DTD60       | Long             | EC               | CORP              | SE        |        79 | NS      | $38307.89     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG               | Roche Holding AG                                          | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |     12098 | NS      | $4777087.06   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Gesco SE                       | Gesco SE                                                  | CUSIP: N/A<br>LEI: 894500DZXXD0LOZYIC55       | Long             | EC               | CORP              | DE        |      1042 | NS      | $16619.44     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Coca-Cola Europacific Partners | Coca-Cola Europacific Partners PLC                        | CUSIP: N/A<br>LEI: 549300LTH67W4GWMRF57       | Long             | EC               | CORP              | GB        |     22300 | NS      | $2021941.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                         | BP PLC                                                    | CUSIP: 055622104<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |     40001 | NS      | $1880047.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Babcock International Group PL | Babcock International Group PLC                           | CUSIP: N/A<br>LEI: 213800TSKOLX4EU6L377       | Long             | EC               | CORP              | GB        |    292242 | NS      | $4501546.82   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Bouygues SA                    | Bouygues SA                                               | CUSIP: N/A<br>LEI: 969500MOCLNQFNZN0D63       | Long             | EC               | CORP              | FR        |      4886 | NS      | $281887.21    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| ACS Actividades de Construccio | ACS Actividades de Construccion y Servicios SA            | CUSIP: N/A<br>LEI: 95980020140005558665       | Long             | EC               | CORP              | ES        |     25506 | NS      | $3156192.14   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Akbank TAS                     | Akbank TAS                                                | CUSIP: N/A<br>LEI: 789000TUMN63Z28TJ497       | Long             | EC               | CORP              | TR        |    365750 | NS      | $554094.70    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| CaixaBank SA                   | CaixaBank SA                                              | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | EC               | CORP              | ES        |    103542 | NS      | $1242343.51   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| CATL                           | Contemporary Amperex Technology Co Ltd                    | CUSIP: Y1R48E105<br>LEI: 300300KINDY1K0E9I032 | Long             | EC               | CORP              | CN        |     55657 | NS      | $3262246.87   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd      | Alibaba Group Holding Ltd                                 | CUSIP: N/A<br>LEI: 5493001NTNQJDH60PM02       | Long             | EC               | CORP              | HK        |     64500 | NS      | $1015392.53   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Aeris Resources Ltd            | Aeris Resources Ltd                                       | CUSIP: N/A<br>LEI: 25490046Z9WWYJ493G64       | Long             | EC               | CORP              | AU        |    199327 | NS      | $55685.12     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding NV                | ASML Holding NV                                           | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |      1512 | NS      | $1997094.96   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp                    | Cameco Corp                                               | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |     25000 | NS      | $2715250.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp                    | Cameco Corp                                               | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |     30700 | NS      | $3338578.10   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Aecon Group Inc                | Aecon Group Inc                                           | CUSIP: 00762V109<br>LEI: 549300VROCXVWXFR8B83 | Long             | EC               | CORP              | CA        |      1900 | NS      | $57105.17     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlsberg AS                   | Carlsberg AS                                              | CUSIP: N/A<br>LEI: 5299001O0WJQYB5GYZ19       | Long             | EC               | CORP              | DK        |       887 | NS      | $110675.45    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| E.ON SE                        | E.ON SE                                                   | CUSIP: N/A<br>LEI: Q9MAIUP40P25UFBFG033       | Long             | EC               | CORP              | DE        |    197222 | NS      | $4310657.75   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Lufthansa AG          | Deutsche Lufthansa AG                                     | CUSIP: N/A<br>LEI: 529900PH63HYJ86ASW55       | Long             | EC               | CORP              | DE        |     25997 | NS      | $214581.80    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Aspo Oyj                       | Aspo Oyj                                                  | CUSIP: N/A<br>LEI: 7437000TB0GHDHLPX677       | Long             | EC               | CORP              | FI        |      1828 | NS      | $13314.32     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PhotoCure ASA                  | PhotoCure ASA                                             | CUSIP: N/A<br>LEI: 5967007LIEEXZXG8OW35       | Long             | EC               | CORP              | NO        |      2143 | NS      | $13142.50     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Columbus A/S                   | Columbus A/S                                              | CUSIP: N/A<br>LEI: 213800WP2W676G7HLJ94       | Long             | EC               | CORP              | DK        |      1227 | NS      | $1870.08      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bangkok Bank PCL               | Bangkok Bank PCL                                          | CUSIP: N/A<br>LEI: 549300CCL2BKJGMYXV60       | Long             | EC               | CORP              | TH        |    174300 | NS      | $668555.18    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Chen Hsong Holdings            | Chen Hsong Holdings                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |     38098 | NS      | $7861.82      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Daihatsu Infinearth Mfg Co Ltd | Daihatsu Infinearth Mfg Co Ltd                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      1600 | NS      | $21133.65     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Daikin Industries Ltd          | Daikin Industries Ltd                                     | CUSIP: N/A<br>LEI: 549300Y7FWSTSHMW5Y57       | Long             | EC               | CORP              | JP        |      9600 | NS      | $1164632.34   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Eisai Co Ltd                   | Eisai Co Ltd                                              | CUSIP: N/A<br>LEI: 353800HDEE0ZYEX4QV91       | Long             | EC               | CORP              | JP        |     28000 | NS      | $870160.68    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Nokia Oyj                      | Nokia Oyj                                                 | CUSIP: 654902204<br>LEI: 549300A0JPRWG1KI7U06 | Long             | EC               | CORP              | FI        |     18389 | NS      | $147847.56    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| YUE YUEN IND                   | Yue Yuen Industrial Holdings Ltd                          | CUSIP: N/A<br>LEI: 254900YUFIBANZ1XU687       | Long             | EC               | CORP              | HK        |    302500 | NS      | $590892.08    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Yushin Co                      | Yushin Co                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      5900 | NS      | $24792.38     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Philip Morris International In | Philip Morris International Inc                           | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      7889 | NS      | $1304367.26   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Aselsan Elektronik Sanayi Ve T | Aselsan Elektronik Sanayi Ve Ticaret AS                   | CUSIP: N/A<br>LEI: 7890008XT4M710MU8714       | Long             | EC               | CORP              | TR        |    375570 | NS      | $2709875.04   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Engie SA                       | Engie SA                                                  | CUSIP: N/A<br>LEI: LAXUQCHT4FH58LRZDY46       | Long             | EC               | CORP              | FR        |     14744 | NS      | $475351.56    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Eiffage SA                     | Eiffage SA                                                | CUSIP: N/A<br>LEI: 969500OQXKE5WDM9M994       | Long             | EC               | CORP              | FR        |      1599 | NS      | $245500.86    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Wilmar International Ltd       | Wilmar International Ltd                                  | CUSIP: N/A<br>LEI: 549300H2EAI4YRLWBB20       | Long             | EC               | CORP              | SG        |    408600 | NS      | $1231008.48   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Noram Drilling AS              | Noram Drilling AS                                         | CUSIP: N/A<br>LEI: 549300YA98I8QIPGWZ72       | Long             | EC               | CORP              | NO        |      6101 | NS      | $30020.52     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Enerflex Ltd                   | Enerflex Ltd                                              | CUSIP: 29269R105<br>LEI: 54930014N7872VUS3F89 | Long             | EC               | CORP              | CA        |      3309 | NS      | $69219.97     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Raffles Medical Group Ltd      | Raffles Medical Group Ltd                                 | CUSIP: N/A<br>LEI: 254900BARSOMRVZFY947       | Long             | EC               | CORP              | SG        |     16900 | NS      | $13323.75     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Convatec Group PLC             | Convatec Group PLC                                        | CUSIP: N/A<br>LEI: 213800LS272L4FIDOH92       | Long             | EC               | CORP              | GB        |    616398 | NS      | $1772446.12   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Gaztransport Et Technigaz SA   | Gaztransport Et Technigaz SA                              | CUSIP: N/A<br>LEI: 969500BVOHVZUUFWDT54       | Long             | EC               | CORP              | FR        |       723 | NS      | $168495.89    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Wuxi Biologics Cayman Inc      | Wuxi Biologics Cayman Inc                                 | CUSIP: N/A<br>LEI: 5493001TD2TH6VDTJU11       | Long             | EC               | CORP              | CN        |    657500 | NS      | $2803133.09   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Dexterra Group Inc             | Dexterra Group Inc                                        | CUSIP: 252371109<br>LEI: 254900KY2GHS3ZIGTA09 | Long             | EC               | CORP              | CA        |      2275 | NS      | $19853.71     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Zhejiang Longsheng             | Zhejiang Longsheng Group Co Ltd                           | CUSIP: N/A<br>LEI: 300300XYB5YIMVFQA157       | Long             | EC               | CORP              | CN        |     23000 | NS      | $43672.02     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Polaris Renewable Energy Inc   | Polaris Renewable Energy Inc                              | CUSIP: 73108L101<br>LEI: 254900IRAKXV4MM4QF30 | Long             | EC               | CORP              | CA        |      8200 | NS      | $72209.04     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Aroa Biosurgery Ltd            | Aroa Biosurgery Ltd                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | NZ        |     35869 | NS      | $14771.75     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Nien Made Enterprise Co Ltd    | Nien Made Enterprise Co Ltd                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |     34000 | NS      | $355081.94    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Detection Technology Oy        | Detection Technology Oy                                   | CUSIP: N/A<br>LEI: 743700IXKYKNXJ6BFL39       | Long             | EC               | CORP              | FI        |      1758 | NS      | $18618.44     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Assa Abloy AB                  | Assa Abloy AB                                             | CUSIP: N/A<br>LEI: 549300YECS8HKCIMMB67       | Long             | EC               | CORP              | SE        |     38700 | NS      | $1387796.94   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Doosan Bobcat Inc              | Doosan Bobcat Inc                                         | CUSIP: N/A<br>LEI: 9884007K6X0Q0112FX44       | Long             | EC               | CORP              | KR        |     13583 | NS      | $511915.57    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Check Point Software Technolog | Check Point Software Technologies Ltd                     | CUSIP: N/A<br>LEI: 2549003ZVBH73EPNS513       | Long             | EC               | CORP              | IL        |      3244 | NS      | $463405.40    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-22

**Name of Applicant:** PFM Multi-Manager Series Trust

**Signature:** /s/ Patrick R. Carmody

**Name of Signer:** Patrick R. Carmody

**Title:** Treasurer