# EDGAR Filing Document

**Accession Number:** 0001495922
**File Stem:** 0001752724-23-041477
**Filing Date:** 2023-2
**Character Count:** 61197
**Document Hash:** de4b6ac3aeaee2b9e61eac4520fe565a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-041477.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-041477

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EntrepreneurShares Series Trust
- **CENTRAL INDEX KEY:** 0001495922
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22436
- **FILM NUMBER:** 23671456

**BUSINESS ADDRESS:**
- **STREET 1:** C/O WESTON CAPITAL ADVISORS, LLC
- **STREET 2:** 470 ATLANTIC AVENUE, SUITE 400
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 781-239-4446

**MAIL ADDRESS:**
- **STREET 1:** C/O WESTON CAPITAL ADVISORS, LLC
- **STREET 2:** 470 ATLANTIC AVENUE, SUITE 400
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

## Series and Classes Contracts Data

### ERShares US Small Cap™ (Series ID: S000030987)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000096041 | Institutional Class | IMPAX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** EntrepreneurShares Series Trust

- **b. Investment Company Act file number:** 811-22436

- **c. CIK number of Registrant:** 0001495922

- **d. LEI of Registrant:** 549300UON6JV1E7QG046

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

  - **Street Address 1:** 175 Federal Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 2110

  - **Telephone number:** (800) 287-9469

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

- **a. Name of Series:** ERSHARES US SMALL CAP FUND

- **b. EDGAR series identifier (if any):** S000030987

- **c. LEI of Series:** 549300QRMJTQ1HQWF408

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

- **a. Date of fiscal year-end:** 2023-06-30

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $80876350.48

**Total Liabilities:** $80577.99

**Net Assets:** $80795772.49

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000096041 | 6.18%                | 0.51%                | -5.28%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-258431.26              | $5185239.57                                |
| Month 2  | $-842723.13              | $1310927.11                                |
| Month 3  | $274093.36               | $-4672281.24                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Fate Therapeutics Inc.                    | Fate Therapeutics, Inc.                  | CUSIP: 31189P102<br>LEI: 549300L14Q4UHOODLA90 | Long             | EC               | CORP              | US        |     18457 | NS      | $186231.13    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Resources Corporation              | Antero Resources Corporation             | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |     21264 | NS      | $658971.36    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Zynex Inc                                 | Zynex, Inc.                              | CUSIP: 98986M103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     81086 | NS      | $1127906.26   | 1.40%             |  |  |  | No            |                  1 | On Loan: —       |
| Relay Therapeutics Inc                    | Relay Therapeutics, Inc.                 | CUSIP: 75943R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16428 | NS      | $245434.32    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Amedisys Inc                              | Amedisys, Inc.                           | CUSIP: 023436108<br>LEI: 5299001RBS9GK9STN379 | Long             | EC               | CORP              | US        |      4811 | NS      | $401910.94    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Kodiak Sciences Inc                       | Kodiak Sciences, Inc.                    | CUSIP: 50015M109<br>LEI: 254900IXI5NI8C9OQE24 | Long             | EC               | CORP              | US        |     46298 | NS      | $331493.68    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Asana Inc                                 | Asana, Inc.                              | CUSIP: 04342Y104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29608 | NS      | $407702.16    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Altair Engineering Inc                    | Altair Engineering, Inc.                 | CUSIP: 021369103<br>LEI: 549300FJ89HZ6GU9S994 | Long             | EC               | CORP              | US        |     17384 | NS      | $790450.48    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolfspeed Inc.                            | Wolfspeed, Inc.                          | CUSIP: 977852102<br>LEI: 549300OGU88P3AW3TO93 | Long             | EC               | CORP              | US        |      2607 | NS      | $179987.28    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Repay Holdings Corporation                | Repay Holdings Corporation               | CUSIP: 76029L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27967 | NS      | $225134.35    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Signet Jewelers Limited                   | Signet Jewelers Ltd.                     | CUSIP: G81276100<br>LEI: 549300N3XPGE91WV7M22 | Long             | EC               | CORP              | US        |      6450 | NS      | $438600.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphastar Pharmaceuticals Inc             | Amphastar Pharmaceuticals, Inc.          | CUSIP: 03209R103<br>LEI: 54930055TH0ZLSAQMJ38 | Long             | EC               | CORP              | US        |     14669 | NS      | $411025.38    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Apellis Pharmaceuticals Inc               | Apellis Pharmaceuticals, Inc.            | CUSIP: 03753U106<br>LEI: 254900HS0ZFRXXSB9D42 | Long             | EC               | CORP              | US        |     13959 | NS      | $721819.89    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| World Wrestling Entertainment, Inc.       | World Wrestling Entertainment, Inc.      | CUSIP: 98156Q108<br>LEI: 549300WZVLSCS3L4L698 | Long             | EC               | CORP              | US        |      7568 | NS      | $518559.36    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Advance Auto Parts Inc.                   | Advance Auto Parts, Inc.                 | CUSIP: 00751Y106<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | EC               | CORP              | US        |      1316 | NS      | $193491.48    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Intellia Therapeutics Inc                 | Intellia Therapeutics, Inc.              | CUSIP: 45826J105<br>LEI: 5493002T5BCPE5DZC723 | Long             | EC               | CORP              | US        |     10705 | NS      | $373497.45    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| TuSimple Holdings Inc                     | TuSimple Holdings, Inc.                  | CUSIP: 90089L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23916 | NS      | $39222.24     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CRISPR Therapeutics AG                    | CRISPR Therapeutics A.G.                 | CUSIP: H17182108<br>LEI: 506700O6IRRIQLT3W370 | Long             | EC               | CORP              | CH        |      7917 | NS      | $321826.05    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Legacy Housing Corp.                      | Legacy Housing Corporation               | CUSIP: 52472M101<br>LEI: V6WE5M18QYITU8L1QF76 | Long             | EC               | CORP              | US        |      5839 | NS      | $110707.44    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Company                 | Matador Resources Company                | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     11726 | NS      | $671196.24    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Carriage Services, Inc.                   | Carriage Services, Inc.                  | CUSIP: 143905107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28052 | NS      | $772552.08    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corporation         | Lattice Semiconductor Corporation        | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |     13094 | NS      | $849538.72    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ESAB Corp.                                | Esab Corporation                         | CUSIP: 29605J106<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | EC               | CORP              | US        |      8572 | NS      | $402198.24    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Signify Health Inc                        | Signify Health, Inc.                     | CUSIP: 82671G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4348 | NS      | $124613.68    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| LHC Group Inc                             | LHC Group, Inc.                          | CUSIP: 50187A107<br>LEI: 5299009NPLWAMRQYZX73 | Long             | EC               | CORP              | US        |      3015 | NS      | $487495.35    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Yelp Inc                                  | Yelp, Inc.                               | CUSIP: 985817105<br>LEI: 5299007OU2DOSXPQBO35 | Long             | EC               | CORP              | US        |     13463 | NS      | $368078.42    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| PC Connection Inc.                        | PC Connection, Inc.                      | CUSIP: 69318J100<br>LEI: 5299005WPRNIXDV2KM73 | Long             | EC               | CORP              | US        |      9224 | NS      | $432605.60    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Teladoc Health Inc                        | Teladoc Health, Inc.                     | CUSIP: 87918A105<br>LEI: 549300I2PVFBC9MFAC61 | Long             | EC               | CORP              | US        |      3027 | NS      | $71588.55     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Madrigal Pharmaceuticals Inc              | Madrigal Pharmaceuticals, Inc.           | CUSIP: 558868105<br>LEI: 549300CHIMT2EUSNJB60 | Long             | EC               | CORP              | US        |      2454 | NS      | $712273.50    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Cerus Corp                                | Cerus Corporation                        | CUSIP: 157085101<br>LEI: 254900BIEY9XIDA04Q21 | Long             | EC               | CORP              | US        |    112834 | NS      | $411844.10    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| CS Disco Inc                              | CS Disco, Inc.                           | CUSIP: 126327105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     67722 | NS      | $428003.04    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| The Vita Coco Company Inc                 | Vita Coco Company, Inc. (The)            | CUSIP: 92846Q107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     73064 | NS      | $1009744.48   | 1.25%             |  |  |  | No            |                  1 | On Loan: —       |
| Seer Inc                                  | Seer, Inc.                               | CUSIP: 81578P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28043 | NS      | $162649.40    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| TaskUs Inc                                | TaskUS, Inc.                             | CUSIP: 87652V109<br>LEI: 549300VFPOK2Y6GLWE32 | Long             | EC               | CORP              | US        |     23064 | NS      | $389781.60    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| E L F Beauty Inc                          | elf Beauty, Inc.                         | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Long             | EC               | CORP              | US        |     14557 | NS      | $805002.10    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Robinhood Markets Inc                     | Robinhood Markets, Inc.                  | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |     10244 | NS      | $83386.16     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Phreesia Inc                              | Phreesia, Inc.                           | CUSIP: 71944F106<br>LEI: 5493000HHF8NU4QOCG53 | Long             | EC               | CORP              | US        |     21262 | NS      | $688038.32    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Xpel Incorporation                        | XPEL, Inc.                               | CUSIP: 98379L100<br>LEI: 549300KWSE3IGXLJNW66 | Long             | EC               | CORP              | US        |      7898 | NS      | $474353.88    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoNation, Inc.                          | AutoNation, Inc.                         | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4482 | NS      | $480918.60    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacific Biosciences Of California Inc.    | Pacific Biosciences of California, Inc.  | CUSIP: 69404D108<br>LEI: 529900F1BWRE1M0KZN89 | Long             | EC               | CORP              | US        |     13167 | NS      | $107706.06    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Thor Industries Inc.                      | Thor Industries, Inc.                    | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Long             | EC               | CORP              | US        |      2265 | NS      | $170984.85    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Daily Money Fund                          | Fidelity Treasury Only Portfolio Class I | CUSIP: 233809300<br>LEI: Z2ZIGDKL3355UQRAKY22 | Long             | STIV             | RF                | US        |   1534209 | PA      | $1534209.06   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Iradimed Corp.                            | iRadimed Corporation                     | CUSIP: 46266A109<br>LEI: 549300YVHWP0YJ1YW816 | Long             | EC               | CORP              | US        |     20370 | NS      | $576267.30    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanmina Corp                              | Sanmina Corporation                      | CUSIP: 801056102<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | EC               | CORP              | US        |     14811 | NS      | $848522.19    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Shake Shack Inc                           | Shake Shack, Inc.                        | CUSIP: 819047101<br>LEI: 529900J74GJAHYP80N79 | Long             | EC               | CORP              | US        |     11511 | NS      | $478051.83    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                             | Coherent Corporation                     | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |      9903 | NS      | $347595.30    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitae Corporation                       | Invitae Corporation                      | CUSIP: 46185L103<br>LEI: 549300MYI59DZW1WIX92 | Long             | EC               | CORP              | US        |     99759 | NS      | $185551.74    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc                 | Kinsale Capital Group, Inc.              | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |      2385 | NS      | $623725.20    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Vermilion Energy Inc.                     | Vermilion Energy, Inc.                   | CUSIP: 923725105<br>LEI: WT03B8BB1IX8WI9ZGV02 | Long             | EC               | RF                | CA        |     40719 | NS      | $720726.30    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastly Incorporation                      | Fastly, Inc.                             | CUSIP: 31188V100<br>LEI: 549300E2FZC83FJ3H565 | Long             | EC               | CORP              | US        |     36402 | NS      | $298132.38    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| EXP World Holdings Inc                    | eXp World Holdings, Inc.                 | CUSIP: 30212W100<br>LEI: 549300TWVVZC283VEC32 | Long             | EC               | CORP              | US        |     40208 | NS      | $445504.64    | 0.55%             |  |  |  | No            |                  1 | On Loan: —       |
| Cinemark Holdings Inc.                    | Cinemark Holdings, Inc.                  | CUSIP: 17243V102<br>LEI: 549300LL2QMPTYIE0K55 | Long             | EC               | CORP              | US        |     21377 | NS      | $185124.82    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Pharmaceuticals Inc                 | Eagle Pharmaceuticals, Inc.              | CUSIP: 269796108<br>LEI: 549300TN20OLYTJVP152 | Long             | EC               | CORP              | US        |     12704 | NS      | $371337.92    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Houlihan Lokey Incorporation              | Houlihan Lokey, Inc.                     | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |      2901 | NS      | $252851.16    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Appfolio Incorporation                    | Appfolio, Inc.                           | CUSIP: 03783C100<br>LEI: 529900OOUUGT6JFC0S15 | Long             | EC               | CORP              | US        |      6369 | NS      | $671165.22    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Trupanion Inc                             | Trupanion, Inc.                          | CUSIP: 898202106<br>LEI: 549300J86GFKIDGMQP18 | Long             | EC               | CORP              | US        |      8832 | NS      | $419784.96    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Signature Bank                            | Signature Bank                           | CUSIP: 82669G104<br>LEI: VLP5AP0XK2GM6GKD1007 | Long             | EC               | CORP              | US        |      1251 | NS      | $144140.22    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Futu Holdings Ltd.                        | Futu Holdings Ltd.                       | CUSIP: 36118L106<br>LEI: 213800X4W4ZRESFPTQ37 | Long             | EC               | CORP              | CN        |      2606 | NS      | $105933.90    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Medical Holdings Corporation       | Select Medical Holdings Corporation      | CUSIP: 81619Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33474 | NS      | $831159.42    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Forrester Research Inc.                   | Forrester Research, Inc.                 | CUSIP: 346563109<br>LEI: 549300UUSFXYLJ80Z897 | Long             | EC               | CORP              | US        |     17277 | NS      | $617825.52    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Cargurus Inc                              | Cargurus, Inc.                           | CUSIP: 141788109<br>LEI: 54930027BKQN6B7X7G78 | Long             | EC               | CORP              | US        |     18342 | NS      | $256971.42    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| TTEC Holdings Inc.                        | TTEC Holdings, Inc.                      | CUSIP: 89854H102<br>LEI: GTJS1N8S8I28A7L4WG97 | Long             | EC               | CORP              | US        |     11573 | NS      | $510716.49    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Aaon Inc                                  | AAON, Inc.                               | CUSIP: 000360206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11946 | NS      | $899772.72    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle Financial Partners Inc           | Pinnacle Financial Partners, Inc.        | CUSIP: 72346Q104<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EC               | CORP              | US        |      5556 | NS      | $407810.40    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmark Group Inc                         | Newmark Group, Inc.                      | CUSIP: 65158N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     54196 | NS      | $431942.12    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Inter Parfums Inc                         | Inter Parfums, Inc.                      | CUSIP: 458334109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4510 | NS      | $435305.20    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Customers Bancorp, Inc.                   | Customers Bancorp, Inc.                  | CUSIP: 23204G100<br>LEI: 549300WLBCHYKZ53FN68 | Long             | EC               | CORP              | US        |      8973 | NS      | $254294.82    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Veracyte Inc                              | Veracyte, Inc.                           | CUSIP: 92337F107<br>LEI: 529900ESWZRHXOW27Z37 | Long             | EC               | CORP              | US        |      3824 | NS      | $90743.52     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Franco Nevada Corp                        | Franco-Nevada Corporation                | CUSIP: 351858105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      1951 | NS      | $266272.48    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Moelis & Co.                              | Moelis & Company                         | CUSIP: 60786M105<br>LEI: 549300891QNU7VTQUR83 | Long             | EC               | CORP              | US        |      7872 | NS      | $302048.64    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Exlservice Holdings Inc                   | ExlService Holdings, Inc.                | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |      5533 | NS      | $937456.19    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Pharmaceuticals Inc.             | Catalyst Pharmaceuticals, Inc.           | CUSIP: 14888U101<br>LEI: 5299004O0R5XXLA5H544 | Long             | EC               | CORP              | US        |     44599 | NS      | $829541.40    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthStream Inc.                         | HealthStream, Inc.                       | CUSIP: 42222N103<br>LEI: 529900OJ88H8635JNH64 | Long             | EC               | CORP              | US        |     18266 | NS      | $453727.44    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Gitlab Inc                                | Gitlab, Inc.                             | CUSIP: 37637K108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9668 | NS      | $439313.92    | 0.54%             |  |  |  | No            |                  1 | On Loan: —       |
| Exact Sciences Corporation                | Exact Sciences Corporation               | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | EC               | CORP              | US        |      2775 | NS      | $137390.25    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| The Realreal Inc                          | RealReal, Inc. (The)                     | CUSIP: 88339P101<br>LEI: 549300O00VUGT4H1PE90 | Long             | EC               | CORP              | US        |     85239 | NS      | $106548.75    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| B. Riley Financial Inc                    | B Riley Financial, Inc.                  | CUSIP: 05580M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5298 | NS      | $181191.60    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonic Automotive, Inc.                    | Sonic Automotive, Inc.                   | CUSIP: 83545G102<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | EC               | CORP              | US        |     11134 | NS      | $548572.18    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Upstart Holdings Inc                      | Upstart Holdings, Inc.                   | CUSIP: 91680M107<br>LEI: 549300WNB47JRNENIC75 | Long             | EC               | CORP              | US        |      4367 | NS      | $57731.74     | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Globus Med Inc                            | Globus Medical, Inc.                     | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |     13354 | NS      | $991801.58    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Box Inc.                                  | Box, Inc.                                | CUSIP: 10316T104<br>LEI: 549300KQUCPD8687YS68 | Long             | EC               | CORP              | US        |     30836 | NS      | $959924.68    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Lemaitre Vascular Inc.                    | LeMaitre Vascular, Inc.                  | CUSIP: 525558201<br>LEI: 549300FZUBUB7MHY8R17 | Long             | EC               | CORP              | US        |     17673 | NS      | $813311.46    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Funko Inc                                 | Funko, Inc.                              | CUSIP: 361008105<br>LEI: 529900NG9F0KL5P6NK67 | Long             | EC               | CORP              | US        |     68910 | NS      | $751808.10    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Eventbrite Inc                            | Eventbrite, Inc.                         | CUSIP: 29975E109<br>LEI: 549300N6XBV2B1FAUF55 | Long             | EC               | CORP              | US        |     64295 | NS      | $376768.70    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| VIR Biotechnology Inc                     | Vir Biotechnology, Inc.                  | CUSIP: 92764N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13196 | NS      | $333990.76    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corporation              | Stifel Financial Corporation             | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |      2907 | NS      | $169681.59    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Insperity Inc                             | Insperity, Inc.                          | CUSIP: 45778Q107<br>LEI: 5299000Q0KW7HY5DB751 | Long             | EC               | CORP              | US        |      7550 | NS      | $857680.00    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameresco Inc                              | Ameresco, Inc.                           | CUSIP: 02361E108<br>LEI: 529900NZXZGBCBXYY327 | Long             | EC               | CORP              | US        |     12833 | NS      | $733277.62    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Evercore Inc                              | Evercore, Inc.                           | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |      4071 | NS      | $444064.68    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicell Inc                              | Omnicell, Inc.                           | CUSIP: 68213N109<br>LEI: 5493008RH0GTKHHPZI77 | Long             | EC               | CORP              | US        |     13804 | NS      | $695997.68    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis, Inc.                            | Exelixis, Inc.                           | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |     57544 | NS      | $923005.76    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| NAPCO Security Technologies Inc.          | Napco Security Technologies, Inc.        | CUSIP: 630402105<br>LEI: 529900KV21J4YY9YST76 | Long             | EC               | CORP              | US        |     35993 | NS      | $989087.64    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Pediatrix Medical Group Inc               | Pediatrix Medical Group, Inc.            | CUSIP: 58502B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38235 | NS      | $568172.10    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Liquidity Services Inc.                   | Liquidity Services, Inc.                 | CUSIP: 53635B107<br>LEI: 5299002AZ4ULSAXN0G81 | Long             | EC               | CORP              | US        |     57202 | NS      | $804260.12    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcus Biosciences Inc.                    | Arcus Biosciences, Inc.                  | CUSIP: 03969F109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16157 | NS      | $334126.76    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors, Inc.                       | Clean Harbors, Inc.                      | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |      8519 | NS      | $972188.28    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Inotiv Inc.                               | Inotiv, Inc.                             | CUSIP: 45783Q100<br>LEI: 549300FH5Z13X0Q5SK81 | Long             | EC               | CORP              | US        |     23356 | NS      | $115378.64    | 0.14%             |  |  |  | No            |                  1 | On Loan: —       |
| Pure Storage Inc                          | Pure Storage, Inc.                       | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |     16461 | NS      | $440496.36    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Twist Bioscience Corporation              | Twist Bioscience Corporation             | CUSIP: 90184D100<br>LEI: 549300T23BL59LCOH584 | Long             | EC               | CORP              | US        |     23778 | NS      | $566154.18    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Rapid7 Incorporation                      | Rapid7, Inc.                             | CUSIP: 753422104<br>LEI: 549300GNVG5D60KEYN14 | Long             | EC               | CORP              | US        |     19451 | NS      | $660944.98    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Palomar Holdings Inc                      | Palomar Holdings, Inc.                   | CUSIP: 69753M105<br>LEI: 549300DOI1MUW11BLX74 | Long             | EC               | CORP              | US        |     12543 | NS      | $566441.88    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Niu Technologies                          | Niu Technologies                         | CUSIP: 65481N100<br>LEI: 549300NJKNSC80EVQ065 | Long             | EC               | CORP              | CN        |     17566 | NS      | $91870.18     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloom Energy Corporation                  | Bloom Energy Corporation                 | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |     30096 | NS      | $575435.52    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenable Holdings Inc                      | Tenable Holdings, Inc.                   | CUSIP: 88025T102<br>LEI: 5493004S5OMPESF0EF83 | Long             | EC               | CORP              | US        |     20232 | NS      | $771850.80    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Appian Corporation                        | Appian Corporation                       | CUSIP: 03782L101<br>LEI: 529900NIARIFW7HGU386 | Long             | EC               | CORP              | US        |      5312 | NS      | $172958.72    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Triumph Financial Inc                     | Triumph Financial, Inc.                  | CUSIP: 89679E300<br>LEI: 5493003RNRMEVYDZ1Q52 | Long             | EC               | CORP              | US        |      4053 | NS      | $198070.11    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Chefs Warehouse Inc.                      | Chefs' Warehouse, Inc. (The)             | CUSIP: 163086101<br>LEI: 549300JYEDC8C547E980 | Long             | EC               | CORP              | US        |      6712 | NS      | $223375.36    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Schrodinger Incorporation                 | Schrodinger, Inc.                        | CUSIP: 80810D103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14967 | NS      | $279733.23    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| DraftKings Inc New                        | DraftKings, Inc.                         | CUSIP: 26142V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4556 | NS      | $51892.84     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Beam Therapeutics Incorporation           | Beam Therapeutics, Inc.                  | CUSIP: 07373V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12155 | NS      | $475382.05    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrowhead Pharmaceuticals Inc             | Arrowhead Pharmaceuticals, Inc.          | CUSIP: 04280A100<br>LEI: 549300O3CSB8T7OZ3D66 | Long             | EC               | CORP              | US        |     26853 | NS      | $1089157.68   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Match Group Inc                           | Match Group, Inc.                        | CUSIP: 57667L107<br>LEI: 15OMOPB0A8K0EFUVD031 | Long             | EC               | CORP              | US        |      6347 | NS      | $263337.03    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO FUNDS                             | Invesco Government & Agency Portfolio    | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   4406747 | PA      | $4406746.75   | 5.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Grid Dynamics Holdings Inc.               | Grid Dynamics Holdings, Inc.             | CUSIP: 39813G109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19401 | NS      | $217679.22    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Credit Acceptance Corporation of Michigan | Credit Acceptance Corporation            | CUSIP: 225310101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       530 | NS      | $251432.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |
| Graphic Packaging Holding Company         | Graphic Packaging Holding Company        | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21449 | NS      | $477240.25    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| JFrog Ltd                                 | JFrog Ltd.                               | CUSIP: M6191J100<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |      7054 | NS      | $150461.82    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Domo Inc                                  | Domo, Inc.                               | CUSIP: 257554105<br>LEI: 549300X57AGT5JULJ761 | Long             | EC               | CORP              | US        |     13535 | NS      | $192738.40    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheesecake Factory Inc                    | Cheesecake Factory, Inc. (The)           | CUSIP: 163072101<br>LEI: 529900872XMLK10SY247 | Long             | EC               | CORP              | US        |     18378 | NS      | $582766.38    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| R1 RCM Inc.                               | R1 RCM, Inc.                             | CUSIP: 77634L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59214 | NS      | $648393.30    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Enovis Corporation                        | Enovis Corporation                       | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Long             | EC               | CORP              | US        |      8788 | NS      | $470333.76    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgebio Pharma Inc                      | Bridgebio Pharma, Inc.                   | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |     32669 | NS      | $248937.78    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Live Oak Bancshares Inc                   | Live Oak Bancshares, Inc.                | CUSIP: 53803X105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5631 | NS      | $170056.20    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Chesapeake Energy Corporation             | Chesapeake Energy Corporation            | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |      6586 | NS      | $621520.82    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Supernus Pharmaceuticals, Inc             | Supernus Pharmaceuticals, Inc.           | CUSIP: 868459108<br>LEI: 549300GRM36VBKISYJ58 | Long             | EC               | CORP              | US        |     22290 | NS      | $795084.30    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprout Social Incorporation               | Sprout Social, Inc.                      | CUSIP: 85209W109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11032 | NS      | $622866.72    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| First Majestic Silver Corp.               | First Majestic Silver Corporation        | CUSIP: 32076V103<br>LEI: 529900PWCU5DUH1DYR51 | Long             | EC               | CORP              | CA        |     18200 | NS      | $151788.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Daqo New Energy Corp.                     | Daqo New Energy Corporation              | CUSIP: 23703Q203<br>LEI: 529900711JBZ5O7VA827 | Long             | EC               | CORP              | CN        |      1900 | NS      | $73359.00     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Blueprint Medicines Corporation           | Blueprint Medicines Corporation          | CUSIP: 09627Y109<br>LEI: 5299004CC60O9T5HVM83 | Long             | EC               | CORP              | US        |      7325 | NS      | $320908.25    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| 10X Genomics Inc                          | 10X Genomics, Inc.                       | CUSIP: 88025U109<br>LEI: 5493003Z6741WNLG7H43 | Long             | EC               | CORP              | US        |      2776 | NS      | $101157.44    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Encore Wire Corp                          | Encore Wire Corporation                  | CUSIP: 292562105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3393 | NS      | $466741.08    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloomin Brands Inc                        | Bloomin' Brands, Inc.                    | CUSIP: 094235108<br>LEI: E1UJ2GO305B5FXGV7N04 | Long             | EC               | CORP              | US        |     32992 | NS      | $663799.04    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Rush Street Interactive Inc               | Rush Street Interactive, Inc.            | CUSIP: 782011100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30292 | NS      | $108748.28    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Krystal Biotech Inc                       | Krystal Biotech, Inc.                    | CUSIP: 501147102<br>LEI: 549300YONUY68210OE41 | Long             | EC               | CORP              | US        |      5419 | NS      | $429293.18    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Impinj Inc                                | Impinj, Inc.                             | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               | CORP              | US        |      5424 | NS      | $592192.32    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| IMAX Corporation                          | IMAX Corporation                         | CUSIP: 45245E109<br>LEI: 5493002KS2T1Q0X7VZ21 | Long             | EC               | CORP              | CA        |     17018 | NS      | $249483.88    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Shockwave Medical Incorporation           | Shockwave Medical, Inc.                  | CUSIP: 82489T104<br>LEI: 549300LDXO56IC5Y1538 | Long             | EC               | CORP              | US        |      4681 | NS      | $962460.41    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| PubMatic Inc.                             | PubMatic, Inc.                           | CUSIP: 74467Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42514 | NS      | $544604.34    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Titan Machinery Inc.                      | Titan Machinery, Inc.                    | CUSIP: 88830R101<br>LEI: 549300835ZM8G0BT5C94 | Long             | EC               | CORP              | US        |     19106 | NS      | $759081.38    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Vicor Corp                                | Vicor Corporation                        | CUSIP: 925815102<br>LEI: 5299005KMQOTR6B51F09 | Long             | EC               | CORP              | US        |     14827 | NS      | $796951.25    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Castle Biosciences Inc                    | Castle Biosciences, Inc.                 | CUSIP: 14843C105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15452 | NS      | $363740.08    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegiant Travel Company                  | Allegiant Travel Company                 | CUSIP: 01748X102<br>LEI: 549300JM9OZXOHWL2K18 | Long             | EC               | CORP              | US        |      4412 | NS      | $299971.88    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Utz Brands Inc.                           | Utz Brands, Inc.                         | CUSIP: 918090101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40502 | NS      | $642361.72    | 0.80%             |  |  |  | No            |                  1 | On Loan: —       |
| Berkeley Lights Inc                       | Berkeley Lights, Inc.                    | CUSIP: 084310101<br>LEI: 549300LTLRE4N65CD358 | Long             | EC               | CORP              | US        |     21805 | NS      | $58437.40     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Ginkgo Bioworks Holdings Inc              | Ginkgo Bioworks Holdings, Inc.           | CUSIP: 37611X100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     47540 | NS      | $80342.60     | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Merit Medical Systems Inc.                | Merit Medical Systems, Inc.              | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |     14591 | NS      | $1030416.42   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Growgeneration Corp                       | GrowGeneration Corporation               | CUSIP: 39986L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     74105 | NS      | $290491.60    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| 1-800-Flowers.Com Inc                     | 1-800-Flowers.com, Inc.                  | CUSIP: 68243Q106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50011 | NS      | $478105.16    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Below Inc                            | Five Below, Inc.                         | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |      1888 | NS      | $333930.56    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Zuora Inc                                 | Zuora, Inc.                              | CUSIP: 98983V106<br>LEI: 549300ISVGC1YZWQJ420 | Long             | EC               | CORP              | US        |     96945 | NS      | $616570.20    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| HCI Group, Inc.                           | HCI Group, Inc.                          | CUSIP: 40416E103<br>LEI: 549300CZF7EZJH0MPH74 | Long             | EC               | CORP              | US        |     12313 | NS      | $487471.67    | 0.60%             |  |  |  | No            |                  1 | On Loan: —       |
| Gladstone Land Corp.                      | Gladstone Land Corporation               | CUSIP: 376549101<br>LEI: 54930002B3Q17H38FG74 | Long             | EC               | CORP              | US        |     18397 | NS      | $337584.95    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Materialise NV                            | Materialise N.V.                         | CUSIP: 57667T100<br>LEI: 5493004CXYDPCZ5RQK28 | Long             | EC               | CORP              | BE        |     33034 | NS      | $290699.20    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Pharmaceuticals Inc                | ACADIA Pharmaceuticals, Inc.             | CUSIP: 004225108<br>LEI: 529900O3044NO0PEA039 | Long             | EC               | CORP              | US        |     18212 | NS      | $289935.04    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Ambarella Inc                             | Ambarella, Inc.                          | CUSIP: G037AX101<br>LEI: 254900XN7F4DG0CEKC02 | Long             | EC               | CORP              | US        |      4301 | NS      | $353671.23    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| J&J Snack Foods Corp                      | J & J Snack Foods Corporation            | CUSIP: 466032109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3663 | NS      | $548387.73    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Maxlinear Inc                             | MaxLinear, Inc.                          | CUSIP: 57776J100<br>LEI: 549300EMOI0SM2IY4F64 | Long             | EC               | CORP              | US        |     22415 | NS      | $760989.25    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Intapp Inc                                | Intapp, Inc.                             | CUSIP: 45827U109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11556 | NS      | $288206.64    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Micro Computer Inc.                 | Super Micro Computer, Inc.               | CUSIP: 86800U104<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |     11611 | NS      | $953263.10    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Onewater Marine Inc.                      | OneWater Marine, Inc.                    | CUSIP: 68280L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18555 | NS      | $530673.00    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillenbrand, Inc.                         | Hillenbrand, Inc.                        | CUSIP: 431571108<br>LEI: U246OE781574J2BUD366 | Long             | EC               | CORP              | US        |     10358 | NS      | $441975.86    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| 2U Inc                                    | 2U, Inc.                                 | CUSIP: 90214J101<br>LEI: 5493008RVTXVR43PYF84 | Long             | EC               | CORP              | US        |     29224 | NS      | $183234.48    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Element Solutions Inc                     | Element Solutions, Inc.                  | CUSIP: 28618M106<br>LEI: 549300FLGN6P5CU20J91 | Long             | EC               | CORP              | US        |     20016 | NS      | $364091.04    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Ensign Group Inc                          | Ensign Group, Inc. (The)                 | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |     10993 | NS      | $1040047.73   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| W & T Offshore Inc.                       | W&T Offshore, Inc.                       | CUSIP: 92922P106<br>LEI: 549300Q7EOY2YIO3YK85 | Long             | EC               | CORP              | US        |    109759 | NS      | $612455.22    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Arhaus Inc                                | Arhaus, Inc.                             | CUSIP: 04035M102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     74825 | NS      | $729543.75    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Pagerduty Inc                             | PagerDuty, Inc.                          | CUSIP: 69553P100<br>LEI: 549300U1SB749EDAGH21 | Long             | EC               | CORP              | US        |     12736 | NS      | $338268.16    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Alector Inc                               | Alector, Inc.                            | CUSIP: 014442107<br>LEI: 549300Z8RQOIY1JMHC25 | Long             | EC               | CORP              | US        |     68627 | NS      | $633427.21    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Shutterstock Inc                          | Shutterstock, Inc.                       | CUSIP: 825690100<br>LEI: 529900G2TDIS56V0LO22 | Long             | EC               | CORP              | US        |     16685 | NS      | $879633.20    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Preferred Bank                            | Preferred Bank                           | CUSIP: 740367404<br>LEI: 5493007K6HGI9G0ECX16 | Long             | EC               | CORP              | US        |      3723 | NS      | $277810.26    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Arvinas Inc                               | Arvinas, Inc.                            | CUSIP: 04335A105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8039 | NS      | $275014.19    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Allogene Therapeutics Inc                 | Allogene Therapeutics, Inc.              | CUSIP: 019770106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16901 | NS      | $106307.29    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Paragon 28 Inc.                           | Paragon 28, Inc.                         | CUSIP: 69913P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17349 | NS      | $331539.39    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkermes PLC                              | Alkermes plc                             | CUSIP: G01767105<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |     25065 | NS      | $654948.45    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-31

**Name of Applicant:** EntrepreneurShares Series Trust

**Signature:** Gregory Knoth

**Name of Signer:** Gregory Knoth

**Title:** SVP, Mutual Fund Controller