# EDGAR Filing Document

**Accession Number:** 0001645194
**File Stem:** 0000940400-26-008662
**Filing Date:** 2026-2
**Character Count:** 161298
**Document Hash:** 637e6c20531229a691cb41e75a6699bb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-008662.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0000940400-26-008662

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Legg Mason ETF Investment Trust
- **CENTRAL INDEX KEY:** 0001645194

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23096
- **FILM NUMBER:** 26687462

**BUSINESS ADDRESS:**
- **STREET 1:** 620 EIGHTH AVE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
- **BUSINESS PHONE:** 877-721-1926

**MAIL ADDRESS:**
- **STREET 1:** 620 EIGHTH AVE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Legg Mason ETF InvestmentTrust
- **DATE OF NAME CHANGE:** 20170221

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Legg Mason ETF Equity Trust
- **DATE OF NAME CHANGE:** 20150615

## Series and Classes Contracts Data

### Royce Quant Small-Cap Quality Value ETF (Series ID: S000058077)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000190092 | Royce Quant Small-Cap Quality Value ETF | SQLV            |

## Nport-Ex

Schedule of Investments (unaudited)

December 31, 2025

 **Royce Quant Small-Cap Quality Value ETF**

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| Security | Shares | Value |
| **Common Stocks — 99.7%** | **Common Stocks — 99.7%** | **Common Stocks — 99.7%** |
| **Communication Services — 5.6%** | **Communication Services — 5.6%** | **Communication Services — 5.6%** |
| *Diversified Telecommunication Services — 0.7%* | *Diversified Telecommunication Services — 0.7%* | *Diversified Telecommunication Services — 0.7%* |
| &nbsp;&nbsp;&nbsp; IDT Corp., Class B Shares | &nbsp;&nbsp; 1325 | &nbsp;&nbsp;&nbsp; $67853<br>|
| &nbsp;&nbsp;&nbsp; Iridium Communications Inc. | &nbsp;&nbsp; 5549 | &nbsp;&nbsp;&nbsp; 96442<br>|
| *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | &nbsp;&nbsp; *164295* |
| *Interactive Media & Services — 2.5%* | *Interactive Media & Services — 2.5%* | *Interactive Media & Services — 2.5%* |
| &nbsp;&nbsp;&nbsp; Angi Inc. | &nbsp;&nbsp; 6268 | &nbsp;&nbsp;&nbsp; 81,045<br> \*<br>|
| &nbsp;&nbsp;&nbsp; EverQuote Inc., Class A Shares | &nbsp;&nbsp; 1752 | &nbsp;&nbsp;&nbsp; 47,304<br> \*<br>|
| &nbsp;&nbsp;&nbsp; MediaAlpha Inc., Class A Shares | &nbsp;&nbsp; 4543 | &nbsp;&nbsp;&nbsp; 58,832<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Shutterstock Inc. | &nbsp;&nbsp; 2071 | &nbsp;&nbsp;&nbsp; 39556<br>|
| &nbsp;&nbsp;&nbsp; Taboola.com Ltd. | &nbsp;&nbsp; 24575 | &nbsp;&nbsp;&nbsp; 113,291<br> \*<br>|
| &nbsp;&nbsp;&nbsp; TripAdvisor Inc. | &nbsp;&nbsp; 4703 | &nbsp;&nbsp;&nbsp; 68,476<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Yelp Inc. | &nbsp;&nbsp; 2624 | &nbsp;&nbsp;&nbsp; 79,743<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Ziff Davis Inc. | &nbsp;&nbsp; 2996 | &nbsp;&nbsp;&nbsp; 105,309<br> \*<br>|
| *Total Interactive Media & Services* | *Total Interactive Media & Services* | &nbsp;&nbsp; *593556* |
| *Media — 2.2%* | *Media — 2.2%* | *Media — 2.2%* |
| &nbsp;&nbsp;&nbsp; AMC Networks Inc., Class A Shares | &nbsp;&nbsp; 12444 | &nbsp;&nbsp;&nbsp; 118,467<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Cable One Inc. | &nbsp;&nbsp; 1046 | &nbsp;&nbsp;&nbsp; 118041<br>|
| &nbsp;&nbsp;&nbsp; Ibotta Inc., Class A Shares | &nbsp;&nbsp; 2690 | &nbsp;&nbsp;&nbsp; 61,144<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Scholastic Corp. | &nbsp;&nbsp; 1270 | &nbsp;&nbsp;&nbsp; 37630<br>|
| &nbsp;&nbsp;&nbsp; TEGNA Inc. | &nbsp;&nbsp; 10082 | &nbsp;&nbsp;&nbsp; 195691<br>|
| *Total Media* | *Total Media* | &nbsp;&nbsp; *530973* |
| *Wireless Telecommunication Services — 0.2%* | *Wireless Telecommunication Services — 0.2%* | *Wireless Telecommunication Services — 0.2%* |
| &nbsp;&nbsp;&nbsp; Spok Holdings Inc. | &nbsp;&nbsp; 3515 | &nbsp;&nbsp;&nbsp; *46363*<br>|
| **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **1335187** |
| **Consumer Discretionary — 15.4%** | **Consumer Discretionary — 15.4%** | **Consumer Discretionary — 15.4%** |
| *Automobile Components — 2.2%* | *Automobile Components — 2.2%* | *Automobile Components — 2.2%* |
| &nbsp;&nbsp;&nbsp; LCI Industries | &nbsp;&nbsp; 1479 | &nbsp;&nbsp;&nbsp; 179462<br>|
| &nbsp;&nbsp;&nbsp; Motorcar Parts of America Inc. | &nbsp;&nbsp; 4795 | &nbsp;&nbsp;&nbsp; 59,170<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Phinia Inc. | &nbsp;&nbsp; 1944 | &nbsp;&nbsp;&nbsp; 121869<br>|
| &nbsp;&nbsp;&nbsp; Strattec Security Corp. | &nbsp;&nbsp; 926 | &nbsp;&nbsp;&nbsp; 70,506<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Visteon Corp. | &nbsp;&nbsp; 890 | &nbsp;&nbsp;&nbsp; 84639<br>|
| *Total Automobile Components* | *Total Automobile Components* | &nbsp;&nbsp; *515646* |
| *Distributors — 0.3%* | *Distributors — 0.3%* | *Distributors — 0.3%* |
| &nbsp;&nbsp;&nbsp; GigaCloud Technology Inc., Class A Shares | &nbsp;&nbsp; 965 | &nbsp;&nbsp;&nbsp; 37,905<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Weyco Group Inc. | &nbsp;&nbsp; 1399 | &nbsp;&nbsp;&nbsp; 42796<br>|
| *Total Distributors* | *Total Distributors* | &nbsp;&nbsp; *80701* |
| *Diversified Consumer Services — 3.2%* | *Diversified Consumer Services — 3.2%* | *Diversified Consumer Services — 3.2%* |
| &nbsp;&nbsp;&nbsp; American Public Education Inc. | &nbsp;&nbsp; 1501 | &nbsp;&nbsp;&nbsp; 56,738<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Coursera Inc. | &nbsp;&nbsp; 7677 | &nbsp;&nbsp;&nbsp; 56,503<br> \*<br>|
| &nbsp;&nbsp;&nbsp; European Wax Center Inc., Class A Shares | &nbsp;&nbsp; 19809 | &nbsp;&nbsp;&nbsp; 71,312<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Frontdoor Inc. | &nbsp;&nbsp; 1810 | &nbsp;&nbsp;&nbsp; 104,419<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Perdoceo Education Corp. | &nbsp;&nbsp; 4265 | &nbsp;&nbsp;&nbsp; 125092<br>|
| &nbsp;&nbsp;&nbsp; Phoenix Education Partners Inc. | &nbsp;&nbsp; 2136 | &nbsp;&nbsp;&nbsp; 64,721<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Strategic Education Inc. | &nbsp;&nbsp; 1226 | &nbsp;&nbsp;&nbsp; 98325<br>|
| &nbsp;&nbsp;&nbsp; Stride Inc. | &nbsp;&nbsp; 1785 | &nbsp;&nbsp;&nbsp; 115,900<br> \*<br>|

---

See Notes to Schedule of Investments.

------

Royce Quant Small-Cap Quality Value ETF 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

December 31, 2025

 **Royce Quant Small-Cap Quality Value ETF**

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| Security | Shares | Value |
| *Diversified Consumer Services — continued* | *Diversified Consumer Services — continued* | *Diversified Consumer Services — continued* |
| &nbsp;&nbsp;&nbsp; Udemy Inc. | &nbsp;&nbsp; 12016 | &nbsp;&nbsp;&nbsp; $70,294<br> \*<br>|
| *Total Diversified Consumer Services* | *Total Diversified Consumer Services* | &nbsp;&nbsp; *763304* |
| *Hotels, Restaurants & Leisure — 1.0%* | *Hotels, Restaurants & Leisure — 1.0%* | *Hotels, Restaurants & Leisure — 1.0%* |
| &nbsp;&nbsp;&nbsp; El Pollo Loco Holdings Inc. | &nbsp;&nbsp; 5727 | &nbsp;&nbsp;&nbsp; 59,905<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Monarch Casino & Resort Inc. | &nbsp;&nbsp; 1392 | &nbsp;&nbsp;&nbsp; 133214<br>|
| &nbsp;&nbsp;&nbsp; United Parks & Resorts Inc. | &nbsp;&nbsp; 1247 | &nbsp;&nbsp;&nbsp; 45,266<br> \*<br>|
| *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | &nbsp;&nbsp; *238385* |
| *Household Durables — 2.0%* | *Household Durables — 2.0%* | *Household Durables — 2.0%* |
| &nbsp;&nbsp;&nbsp; Cricut Inc., Class A Shares | &nbsp;&nbsp; 23942 | &nbsp;&nbsp;&nbsp; 118513<br>|
| &nbsp;&nbsp;&nbsp; Flexsteel Industries Inc. | &nbsp;&nbsp; 1302 | &nbsp;&nbsp;&nbsp; 51416<br>|
| &nbsp;&nbsp;&nbsp; Hamilton Beach Brands Holding Co., Class A Shares | &nbsp;&nbsp; 2471 | &nbsp;&nbsp;&nbsp; 40648<br>|
| &nbsp;&nbsp;&nbsp; Hooker Furnishings Corp. | &nbsp;&nbsp; 4315 | &nbsp;&nbsp;&nbsp; 48716<br>|
| &nbsp;&nbsp;&nbsp; La-Z-Boy Inc. | &nbsp;&nbsp; 2284 | &nbsp;&nbsp;&nbsp; 85125<br>|
| &nbsp;&nbsp;&nbsp; Tri Pointe Homes Inc. | &nbsp;&nbsp; 3768 | &nbsp;&nbsp;&nbsp; 118,579<br> \*<br>|
| *Total Household Durables* | *Total Household Durables* | &nbsp;&nbsp; *462997* |
| *Leisure Products — 1.2%* | *Leisure Products — 1.2%* | *Leisure Products — 1.2%* |
| &nbsp;&nbsp;&nbsp; Johnson Outdoors Inc., Class A Shares | &nbsp;&nbsp; 1478 | &nbsp;&nbsp;&nbsp; 62741<br>|
| &nbsp;&nbsp;&nbsp; Marine Products Corp. | &nbsp;&nbsp; 7302 | &nbsp;&nbsp;&nbsp; 63966<br>|
| &nbsp;&nbsp;&nbsp; Polaris Inc. | &nbsp;&nbsp; 2338 | &nbsp;&nbsp;&nbsp; 147878<br>|
| *Total Leisure Products* | *Total Leisure Products* | &nbsp;&nbsp; *274585* |
| *Specialty Retail — 3.7%* | *Specialty Retail — 3.7%* | *Specialty Retail — 3.7%* |
| &nbsp;&nbsp;&nbsp; Abercrombie & Fitch Co., Class A Shares | &nbsp;&nbsp; 1383 | &nbsp;&nbsp;&nbsp; 174,078<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Academy Sports & Outdoors Inc. | &nbsp;&nbsp; 2652 | &nbsp;&nbsp;&nbsp; 132494<br>|
| &nbsp;&nbsp;&nbsp; Bath & Body Works Inc. | &nbsp;&nbsp; 8330 | &nbsp;&nbsp;&nbsp; 167267<br>|
| &nbsp;&nbsp;&nbsp; Buckle Inc. | &nbsp;&nbsp; 3181 | &nbsp;&nbsp;&nbsp; 169929<br>|
| &nbsp;&nbsp;&nbsp; Monro Inc. | &nbsp;&nbsp; 1754 | &nbsp;&nbsp;&nbsp; 35150<br>|
| &nbsp;&nbsp;&nbsp; Sally Beauty Holdings Inc. | &nbsp;&nbsp; 9066 | &nbsp;&nbsp;&nbsp; 129,281<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Torrid Holdings Inc. | &nbsp;&nbsp; 35426 | &nbsp;&nbsp;&nbsp; 34,661<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Winmark Corp. | &nbsp;&nbsp; 95 | &nbsp;&nbsp;&nbsp; 38469<br>|
| *Total Specialty Retail* | *Total Specialty Retail* | &nbsp;&nbsp; *881329* |
| *Textiles, Apparel & Luxury Goods — 1.8%* | *Textiles, Apparel & Luxury Goods — 1.8%* | *Textiles, Apparel & Luxury Goods — 1.8%* |
| &nbsp;&nbsp;&nbsp; Carter's Inc. | &nbsp;&nbsp; 4341 | &nbsp;&nbsp;&nbsp; 140778<br>|
| &nbsp;&nbsp;&nbsp; Columbia Sportswear Co. | &nbsp;&nbsp; 1964 | &nbsp;&nbsp;&nbsp; 108197<br>|
| &nbsp;&nbsp;&nbsp; G-III Apparel Group Ltd. | &nbsp;&nbsp; 3834 | &nbsp;&nbsp;&nbsp; 111033<br>|
| &nbsp;&nbsp;&nbsp; Rocky Brands Inc. | &nbsp;&nbsp; 1190 | &nbsp;&nbsp;&nbsp; 34903<br>|
| &nbsp;&nbsp;&nbsp; Superior Group of Cos. Inc. | &nbsp;&nbsp; 3946 | &nbsp;&nbsp;&nbsp; 38197<br>|
| *Total Textiles, Apparel & Luxury Goods* | *Total Textiles, Apparel & Luxury Goods* | &nbsp;&nbsp; *433108* |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **3650055** |
| **Consumer Staples — 5.0%** | **Consumer Staples — 5.0%** | **Consumer Staples — 5.0%** |
| *Beverages — 0.6%* | *Beverages — 0.6%* | *Beverages — 0.6%* |
| &nbsp;&nbsp;&nbsp; Boston Beer Co. Inc., Class A Shares | &nbsp;&nbsp; 416 | &nbsp;&nbsp;&nbsp; 81,174<br> \*<br>|
| &nbsp;&nbsp;&nbsp; National Beverage Corp. | &nbsp;&nbsp; 1851 | &nbsp;&nbsp;&nbsp; 59,029<br> \*<br>|
| *Total Beverages* | *Total Beverages* | &nbsp;&nbsp; *140203* |
| *Consumer Staples Distribution & Retail — 0.3%* | *Consumer Staples Distribution & Retail — 0.3%* | *Consumer Staples Distribution & Retail — 0.3%* |
| &nbsp;&nbsp;&nbsp; Village Super Market Inc., Class A Shares | &nbsp;&nbsp; 1920 | &nbsp;&nbsp;&nbsp; *67958*<br>|
| *Food Products — 1.8%* | *Food Products — 1.8%* | *Food Products — 1.8%* |
| &nbsp;&nbsp;&nbsp; Calavo Growers Inc. | &nbsp;&nbsp; 2057 | &nbsp;&nbsp;&nbsp; 44740<br>|

---

See Notes to Schedule of Investments.

------

Royce Quant Small-Cap Quality Value ETF 2025 Quarterly Report

------

 **Royce Quant Small-Cap Quality Value ETF**

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| Security | Shares | Value |
| *Food Products — continued* | *Food Products — continued* | *Food Products — continued* |
| &nbsp;&nbsp;&nbsp; Cal-Maine Foods Inc. | &nbsp;&nbsp; 1680 | &nbsp;&nbsp;&nbsp; $133677<br>|
| &nbsp;&nbsp;&nbsp; Fresh Del Monte Produce Inc.  | &nbsp;&nbsp; 5336 | &nbsp;&nbsp;&nbsp; 190122<br>|
| &nbsp;&nbsp;&nbsp; Seneca Foods Corp., Class A Shares | &nbsp;&nbsp; 595 | &nbsp;&nbsp;&nbsp; 65,825<br> \*<br>|
| *Total Food Products* | *Total Food Products* | &nbsp;&nbsp; *434364* |
| *Household Products — 1.0%* | *Household Products — 1.0%* | *Household Products — 1.0%* |
| &nbsp;&nbsp;&nbsp; Central Garden & Pet Co. | &nbsp;&nbsp; 2613 | &nbsp;&nbsp;&nbsp; 84,008<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Oil-Dri Corp. of America | &nbsp;&nbsp; 1278 | &nbsp;&nbsp;&nbsp; 62545<br>|
| &nbsp;&nbsp;&nbsp; Spectrum Brands Holdings Inc. | &nbsp;&nbsp; 1656 | &nbsp;&nbsp;&nbsp; 97837<br>|
| *Total Household Products* | *Total Household Products* | &nbsp;&nbsp; *244390* |
| *Personal Care Products — 1.3%* | *Personal Care Products — 1.3%* | *Personal Care Products — 1.3%* |
| &nbsp;&nbsp;&nbsp; BellRing Brands Inc. | &nbsp;&nbsp; 2934 | &nbsp;&nbsp;&nbsp; 78,426<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Lifevantage Corp. | &nbsp;&nbsp; 8744 | &nbsp;&nbsp;&nbsp; 53863<br>|
| &nbsp;&nbsp;&nbsp; Nature's Sunshine Products Inc. | &nbsp;&nbsp; 3917 | &nbsp;&nbsp;&nbsp; 84,529<br> \*<br>|
| &nbsp;&nbsp;&nbsp; USANA Health Sciences Inc. | &nbsp;&nbsp; 3971 | &nbsp;&nbsp;&nbsp; 77,950<br> \*<br>|
| *Total Personal Care Products* | *Total Personal Care Products* | &nbsp;&nbsp; *294768* |
| **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **1181683** |
| **Energy — 4.3%** | **Energy — 4.3%** | **Energy — 4.3%** |
| *Energy Equipment & Services — 1.7%* | *Energy Equipment & Services — 1.7%* | *Energy Equipment & Services — 1.7%* |
| &nbsp;&nbsp;&nbsp; Cactus Inc., Class A Shares | &nbsp;&nbsp; 2295 | &nbsp;&nbsp;&nbsp; 104836<br>|
| &nbsp;&nbsp;&nbsp; Helix Energy Solutions Group Inc. | &nbsp;&nbsp; 14436 | &nbsp;&nbsp;&nbsp; 90,514<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Ranger Energy Services Inc., Class A Shares | &nbsp;&nbsp; 6010 | &nbsp;&nbsp;&nbsp; 84020<br>|
| &nbsp;&nbsp;&nbsp; RPC Inc. | &nbsp;&nbsp; 7183 | &nbsp;&nbsp;&nbsp; 39075<br>|
| &nbsp;&nbsp;&nbsp; Tidewater Inc. | &nbsp;&nbsp; 1777 | &nbsp;&nbsp;&nbsp; 89,756<br> \*<br>|
| *Total Energy Equipment & Services* | *Total Energy Equipment & Services* | &nbsp;&nbsp; *408201* |
| *Oil, Gas & Consumable Fuels — 2.6%* | *Oil, Gas & Consumable Fuels — 2.6%* | *Oil, Gas & Consumable Fuels — 2.6%* |
| &nbsp;&nbsp;&nbsp; Civitas Resources Inc. | &nbsp;&nbsp; 5044 | &nbsp;&nbsp;&nbsp; 136642<br>|
| &nbsp;&nbsp;&nbsp; Crescent Energy Co., Class A Shares | &nbsp;&nbsp; 15676 | &nbsp;&nbsp;&nbsp; 131522<br>|
| &nbsp;&nbsp;&nbsp; Excelerate Energy Inc., Class A Shares | &nbsp;&nbsp; 2440 | &nbsp;&nbsp;&nbsp; 68442<br>|
| &nbsp;&nbsp;&nbsp; REX American Resources Corp. | &nbsp;&nbsp; 1172 | &nbsp;&nbsp;&nbsp; 37,879<br> \*<br>|
| &nbsp;&nbsp;&nbsp; SandRidge Energy Inc. | &nbsp;&nbsp; 2485 | &nbsp;&nbsp;&nbsp; 35859<br>|
| &nbsp;&nbsp;&nbsp; Talos Energy Inc. | &nbsp;&nbsp; 13318 | &nbsp;&nbsp;&nbsp; 146,764<br> \*<br>|
| &nbsp;&nbsp;&nbsp; World Kinect Corp. | &nbsp;&nbsp; 2752 | &nbsp;&nbsp;&nbsp; 64479<br>|
| *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | &nbsp;&nbsp; *621587* |
| **Total Energy** | **Total Energy** | &nbsp;&nbsp; **1029788** |
| **Financials — 22.7%** | **Financials — 22.7%** | **Financials — 22.7%** |
| *Banks — 8.5%* | *Banks — 8.5%* | *Banks — 8.5%* |
| &nbsp;&nbsp;&nbsp; Axos Financial Inc. | &nbsp;&nbsp; 435 | &nbsp;&nbsp;&nbsp; 37,480<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Cathay General Bancorp | &nbsp;&nbsp; 2658 | &nbsp;&nbsp;&nbsp; 128621<br>|
| &nbsp;&nbsp;&nbsp; Citizens Financial Services Inc. | &nbsp;&nbsp; 908 | &nbsp;&nbsp;&nbsp; 51774<br>|
| &nbsp;&nbsp;&nbsp; Civista Bancshares Inc. | &nbsp;&nbsp; 4968 | &nbsp;&nbsp;&nbsp; 110389<br>|
| &nbsp;&nbsp;&nbsp; Financial Institutions Inc. | &nbsp;&nbsp; 3070 | &nbsp;&nbsp;&nbsp; 95692<br>|
| &nbsp;&nbsp;&nbsp; First Financial Corp. | &nbsp;&nbsp; 1985 | &nbsp;&nbsp;&nbsp; 119934<br>|
| &nbsp;&nbsp;&nbsp; Hanmi Financial Corp. | &nbsp;&nbsp; 2496 | &nbsp;&nbsp;&nbsp; 67467<br>|
| &nbsp;&nbsp;&nbsp; Home Bancorp Inc. | &nbsp;&nbsp; 946 | &nbsp;&nbsp;&nbsp; 54679<br>|
| &nbsp;&nbsp;&nbsp; International Bancshares Corp. | &nbsp;&nbsp; 2553 | &nbsp;&nbsp;&nbsp; 169621<br>|
| &nbsp;&nbsp;&nbsp; MainStreet Bancshares Inc. | &nbsp;&nbsp; 3306 | &nbsp;&nbsp;&nbsp; 67310<br>|
| &nbsp;&nbsp;&nbsp; Mercantile Bank Corp. | &nbsp;&nbsp; 2382 | &nbsp;&nbsp;&nbsp; 114574<br>|

---

See Notes to Schedule of Investments.

------

Royce Quant Small-Cap Quality Value ETF 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

December 31, 2025

 **Royce Quant Small-Cap Quality Value ETF**

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| Security | Shares | Value |
| *Banks — continued* | *Banks — continued* | *Banks — continued* |
| &nbsp;&nbsp;&nbsp; Metropolitan Bank Holding Corp. | &nbsp;&nbsp; 498 | &nbsp;&nbsp;&nbsp; $38027<br>|
| &nbsp;&nbsp;&nbsp; Midland States Bancorp Inc. | &nbsp;&nbsp; 3983 | &nbsp;&nbsp;&nbsp; 84320<br>|
| &nbsp;&nbsp;&nbsp; NBT Bancorp Inc. | &nbsp;&nbsp; 1990 | &nbsp;&nbsp;&nbsp; 82625<br>|
| &nbsp;&nbsp;&nbsp; Northeast Bank | &nbsp;&nbsp; 445 | &nbsp;&nbsp;&nbsp; 46249<br>|
| &nbsp;&nbsp;&nbsp; Northeast Community Bancorp Inc. | &nbsp;&nbsp; 4269 | &nbsp;&nbsp;&nbsp; 96522<br>|
| &nbsp;&nbsp;&nbsp; Orange County Bancorp Inc. | &nbsp;&nbsp; 1738 | &nbsp;&nbsp;&nbsp; 49620<br>|
| &nbsp;&nbsp;&nbsp; Parke Bancorp Inc. | &nbsp;&nbsp; 4197 | &nbsp;&nbsp;&nbsp; 105093<br>|
| &nbsp;&nbsp;&nbsp; Peoples Bancorp Inc. | &nbsp;&nbsp; 1491 | &nbsp;&nbsp;&nbsp; 44775<br>|
| &nbsp;&nbsp;&nbsp; Plumas Bancorp | &nbsp;&nbsp; 1040 | &nbsp;&nbsp;&nbsp; 46477<br>|
| &nbsp;&nbsp;&nbsp; Preferred Bank | &nbsp;&nbsp; 1365 | &nbsp;&nbsp;&nbsp; 128897<br>|
| &nbsp;&nbsp;&nbsp; S&T Bancorp Inc. | &nbsp;&nbsp; 971 | &nbsp;&nbsp;&nbsp; 38209<br>|
| &nbsp;&nbsp;&nbsp; Unity Bancorp Inc. | &nbsp;&nbsp; 2470 | &nbsp;&nbsp;&nbsp; 127748<br>|
| &nbsp;&nbsp;&nbsp; WesBanco Inc. | &nbsp;&nbsp; 1354 | &nbsp;&nbsp;&nbsp; 45007<br>|
| &nbsp;&nbsp;&nbsp; Wintrust Financial Corp. | &nbsp;&nbsp; 512 | &nbsp;&nbsp;&nbsp; 71588<br>|
| *Total Banks* | *Total Banks* | &nbsp;&nbsp; *2022698* |
| *Capital Markets — 3.7%* | *Capital Markets — 3.7%* | *Capital Markets — 3.7%* |
| &nbsp;&nbsp;&nbsp; Acadian Asset Management Inc. | &nbsp;&nbsp; 1804 | &nbsp;&nbsp;&nbsp; 84788<br>|
| &nbsp;&nbsp;&nbsp; Artisan Partners Asset Management Inc., Class A Shares | &nbsp;&nbsp; 3486 | &nbsp;&nbsp;&nbsp; 142020<br>|
| &nbsp;&nbsp;&nbsp; Cohen & Steers Inc. | &nbsp;&nbsp; 1137 | &nbsp;&nbsp;&nbsp; 71381<br>|
| &nbsp;&nbsp;&nbsp; Diamond Hill Investment Group Inc. | &nbsp;&nbsp; 587 | &nbsp;&nbsp;&nbsp; 99496<br>|
| &nbsp;&nbsp;&nbsp; Donnelley Financial Solutions Inc. | &nbsp;&nbsp; 1308 | &nbsp;&nbsp;&nbsp; 61,071<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Federated Hermes Inc. | &nbsp;&nbsp; 3719 | &nbsp;&nbsp;&nbsp; 193648<br>|
| &nbsp;&nbsp;&nbsp; Victory Capital Holdings Inc., Class A Shares | &nbsp;&nbsp; 3130 | &nbsp;&nbsp;&nbsp; 197472<br>|
| &nbsp;&nbsp;&nbsp; Webull Corp. | &nbsp;&nbsp; 3787 | &nbsp;&nbsp;&nbsp; 29,425<br> \*<br>|
| *Total Capital Markets* | *Total Capital Markets* | &nbsp;&nbsp; *879301* |
| *Consumer Finance — 1.4%* | *Consumer Finance — 1.4%* | *Consumer Finance — 1.4%* |
| &nbsp;&nbsp;&nbsp; Bread Financial Holdings Inc. | &nbsp;&nbsp; 602 | &nbsp;&nbsp;&nbsp; 44566<br>|
| &nbsp;&nbsp;&nbsp; Dave Inc. | &nbsp;&nbsp; 364 | &nbsp;&nbsp;&nbsp; 80,593<br> \*<br>|
| &nbsp;&nbsp;&nbsp; DeFi Development Corp. | &nbsp;&nbsp; 6634 | &nbsp;&nbsp;&nbsp; 33,502<br> \*<br>|
| &nbsp;&nbsp;&nbsp; PROG Holdings Inc. | &nbsp;&nbsp; 3360 | &nbsp;&nbsp;&nbsp; 99086<br>|
| &nbsp;&nbsp;&nbsp; World Acceptance Corp. | &nbsp;&nbsp; 541 | &nbsp;&nbsp;&nbsp; 75,951<br> \*<br>|
| *Total Consumer Finance* | *Total Consumer Finance* | &nbsp;&nbsp; *333698* |
| *Financial Services — 4.6%* | *Financial Services — 4.6%* | *Financial Services — 4.6%* |
| &nbsp;&nbsp;&nbsp; Acacia Research Corp. | &nbsp;&nbsp; 14611 | &nbsp;&nbsp;&nbsp; 54,645<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Cass Information Systems Inc. | &nbsp;&nbsp; 1590 | &nbsp;&nbsp;&nbsp; 66017<br>|
| &nbsp;&nbsp;&nbsp; Euronet Worldwide Inc. | &nbsp;&nbsp; 1553 | &nbsp;&nbsp;&nbsp; 118,199<br> \*<br>|
| &nbsp;&nbsp;&nbsp; International Money Express Inc. | &nbsp;&nbsp; 3465 | &nbsp;&nbsp;&nbsp; 53,222<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Merchants Bancorp | &nbsp;&nbsp; 3089 | &nbsp;&nbsp;&nbsp; 105211<br>|
| &nbsp;&nbsp;&nbsp; NCR Atleos Corp. | &nbsp;&nbsp; 3663 | &nbsp;&nbsp;&nbsp; 139,597<br> \*<br>|
| &nbsp;&nbsp;&nbsp; NMI Holdings Inc. | &nbsp;&nbsp; 3823 | &nbsp;&nbsp;&nbsp; 155,940<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Payoneer Global Inc. | &nbsp;&nbsp; 15725 | &nbsp;&nbsp;&nbsp; 88,374<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Radian Group Inc. | &nbsp;&nbsp; 2223 | &nbsp;&nbsp;&nbsp; 80006<br>|
| &nbsp;&nbsp;&nbsp; Repay Holdings Corp. | &nbsp;&nbsp; 23587 | &nbsp;&nbsp;&nbsp; 86,093<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Western Union Co. | &nbsp;&nbsp; 15597 | &nbsp;&nbsp;&nbsp; 145208<br>|
| *Total Financial Services* | *Total Financial Services* | &nbsp;&nbsp; *1092512* |
| *Insurance — 4.5%* | *Insurance — 4.5%* | *Insurance — 4.5%* |
| &nbsp;&nbsp;&nbsp; American Coastal Insurance Corp. | &nbsp;&nbsp; 6097 | &nbsp;&nbsp;&nbsp; 77005<br>|

---

See Notes to Schedule of Investments.

------

Royce Quant Small-Cap Quality Value ETF 2025 Quarterly Report

------

 **Royce Quant Small-Cap Quality Value ETF**

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| Security | Shares | Value |
| *Insurance — continued* | *Insurance — continued* | *Insurance — continued* |
| &nbsp;&nbsp;&nbsp; American Integrity Insurance Group Inc. | &nbsp;&nbsp; 3732 | &nbsp;&nbsp;&nbsp; $77,738<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Brighthouse Financial Inc. | &nbsp;&nbsp; 2597 | &nbsp;&nbsp;&nbsp; 168,260<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Heritage Insurance Holdings Inc. | &nbsp;&nbsp; 3529 | &nbsp;&nbsp;&nbsp; 103,259<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Hippo Holdings Inc. | &nbsp;&nbsp; 1492 | &nbsp;&nbsp;&nbsp; 44,879<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Kingstone Cos. Inc. | &nbsp;&nbsp; 3657 | &nbsp;&nbsp;&nbsp; 61547<br>|
| &nbsp;&nbsp;&nbsp; Mercury General Corp. | &nbsp;&nbsp; 449 | &nbsp;&nbsp;&nbsp; 42233<br>|
| &nbsp;&nbsp;&nbsp; Neptune Insurance Holdings Inc., Class A Shares | &nbsp;&nbsp; 3909 | &nbsp;&nbsp;&nbsp; 113,986<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Oscar Health Inc., Class A Shares | &nbsp;&nbsp; 7232 | &nbsp;&nbsp;&nbsp; 103,924<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Slide Insurance Holdings Inc. | &nbsp;&nbsp; 7088 | &nbsp;&nbsp;&nbsp; 138,074<br> \*<br>|
| &nbsp;&nbsp;&nbsp; White Mountains Insurance Group Ltd. | &nbsp;&nbsp; 59 | &nbsp;&nbsp;&nbsp; 122604<br>|
| *Total Insurance* | *Total Insurance* | &nbsp;&nbsp; *1053509* |
| **Total Financials** | **Total Financials** | &nbsp;&nbsp; **5381718** |
| **Health Care — 19.2%** | **Health Care — 19.2%** | **Health Care — 19.2%** |
| *Biotechnology — 3.0%* | *Biotechnology — 3.0%* | *Biotechnology — 3.0%* |
| &nbsp;&nbsp;&nbsp; ACADIA Pharmaceuticals Inc. | &nbsp;&nbsp; 3593 | &nbsp;&nbsp;&nbsp; 95,969<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Anika Therapeutics Inc. | &nbsp;&nbsp; 5148 | &nbsp;&nbsp;&nbsp; 49,472<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Catalyst Pharmaceuticals Inc. | &nbsp;&nbsp; 4301 | &nbsp;&nbsp;&nbsp; 100,385<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Dynavax Technologies Corp. | &nbsp;&nbsp; 7123 | &nbsp;&nbsp;&nbsp; 109,552<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Emergent BioSolutions Inc. | &nbsp;&nbsp; 6912 | &nbsp;&nbsp;&nbsp; 85,432<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Kura Oncology Inc. | &nbsp;&nbsp; 4943 | &nbsp;&nbsp;&nbsp; 51,358<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Monte Rosa Therapeutics Inc. | &nbsp;&nbsp; 3051 | &nbsp;&nbsp;&nbsp; 47,840<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Puma Biotechnology Inc. | &nbsp;&nbsp; 11914 | &nbsp;&nbsp;&nbsp; 70,888<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Veracyte Inc. | &nbsp;&nbsp; 2167 | &nbsp;&nbsp;&nbsp; 91,231<br> \*<br>|
| *Total Biotechnology* | *Total Biotechnology* | &nbsp;&nbsp; *702127* |
| *Health Care Equipment & Supplies — 6.3%* | *Health Care Equipment & Supplies — 6.3%* | *Health Care Equipment & Supplies — 6.3%* |
| &nbsp;&nbsp;&nbsp; Avanos Medical Inc. | &nbsp;&nbsp; 7115 | &nbsp;&nbsp;&nbsp; 79,901<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Bioventus Inc., Class A Shares | &nbsp;&nbsp; 7906 | &nbsp;&nbsp;&nbsp; 58,821<br> \*<br>|
| &nbsp;&nbsp;&nbsp; CONMED Corp. | &nbsp;&nbsp; 2131 | &nbsp;&nbsp;&nbsp; 86518<br>|
| &nbsp;&nbsp;&nbsp; DENTSPLY SIRONA Inc. | &nbsp;&nbsp; 9811 | &nbsp;&nbsp;&nbsp; 112140<br>|
| &nbsp;&nbsp;&nbsp; Electromed Inc. | &nbsp;&nbsp; 1247 | &nbsp;&nbsp;&nbsp; 36,313<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Embecta Corp. | &nbsp;&nbsp; 7776 | &nbsp;&nbsp;&nbsp; 92379<br>|
| &nbsp;&nbsp;&nbsp; Envista Holdings Corp. | &nbsp;&nbsp; 6266 | &nbsp;&nbsp;&nbsp; 136,035<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Haemonetics Corp. | &nbsp;&nbsp; 1231 | &nbsp;&nbsp;&nbsp; 98,665<br> \*<br>|
| &nbsp;&nbsp;&nbsp; ICU Medical Inc. | &nbsp;&nbsp; 327 | &nbsp;&nbsp;&nbsp; 46,653<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Integer Holdings Corp. | &nbsp;&nbsp; 1067 | &nbsp;&nbsp;&nbsp; 83,685<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Integra LifeSciences Holdings Corp. | &nbsp;&nbsp; 2775 | &nbsp;&nbsp;&nbsp; 34,465<br> \*<br>|
| &nbsp;&nbsp;&nbsp; iRadimed Corp. | &nbsp;&nbsp; 902 | &nbsp;&nbsp;&nbsp; 87746<br>|
| &nbsp;&nbsp;&nbsp; Lantheus Holdings Inc. | &nbsp;&nbsp; 2004 | &nbsp;&nbsp;&nbsp; 133,366<br> \*<br>|
| &nbsp;&nbsp;&nbsp; LeMaitre Vascular Inc. | &nbsp;&nbsp; 1096 | &nbsp;&nbsp;&nbsp; 88885<br>|
| &nbsp;&nbsp;&nbsp; OmniAb Inc., $12.50 EARNOUT | &nbsp;&nbsp; 298 | &nbsp;&nbsp;&nbsp; 0<br> \*<sup>(a)(b)(c)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; OmniAb Inc., $15.00 EARNOUT | &nbsp;&nbsp; 298 | &nbsp;&nbsp;&nbsp; 0<br> \*<sup>(a)(b)(c)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Omnicell Inc. | &nbsp;&nbsp; 852 | &nbsp;&nbsp;&nbsp; 38,596<br> \*<br>|
| &nbsp;&nbsp;&nbsp; STAAR Surgical Co. | &nbsp;&nbsp; 2608 | &nbsp;&nbsp;&nbsp; 60,219<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Tactile Systems Technology Inc. | &nbsp;&nbsp; 2633 | &nbsp;&nbsp;&nbsp; 76,357<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Utah Medical Products Inc. | &nbsp;&nbsp; 856 | &nbsp;&nbsp;&nbsp; 47902<br>|
| &nbsp;&nbsp;&nbsp; Varex Imaging Corp. | &nbsp;&nbsp; 8038 | &nbsp;&nbsp;&nbsp; 93,643<br> \*<br>|
| *Total Health Care Equipment & Supplies* | *Total Health Care Equipment & Supplies* | &nbsp;&nbsp; *1492289* |

---

See Notes to Schedule of Investments.

------

Royce Quant Small-Cap Quality Value ETF 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

December 31, 2025

 **Royce Quant Small-Cap Quality Value ETF**

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| Security | Shares | Value |
| *Health Care Providers & Services — 3.2%* | *Health Care Providers & Services — 3.2%* | *Health Care Providers & Services — 3.2%* |
| &nbsp;&nbsp;&nbsp; Addus HomeCare Corp. | &nbsp;&nbsp; 897 | &nbsp;&nbsp;&nbsp; $96,329<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Astrana Health Inc. | &nbsp;&nbsp; 1641 | &nbsp;&nbsp;&nbsp; 40,713<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Castle Biosciences Inc. | &nbsp;&nbsp; 1871 | &nbsp;&nbsp;&nbsp; 72,782<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Concentra Group Holdings Parent Inc. | &nbsp;&nbsp; 2356 | &nbsp;&nbsp;&nbsp; 46366<br>|
| &nbsp;&nbsp;&nbsp; CorVel Corp. | &nbsp;&nbsp; 558 | &nbsp;&nbsp;&nbsp; 37,760<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Cross Country Healthcare Inc. | &nbsp;&nbsp; 10790 | &nbsp;&nbsp;&nbsp; 87,399<br> \*<br>|
| &nbsp;&nbsp;&nbsp; DocGo Inc. | &nbsp;&nbsp; 39935 | &nbsp;&nbsp;&nbsp; 35,055<br> \*<br>|
| &nbsp;&nbsp;&nbsp; National HealthCare Corp. | &nbsp;&nbsp; 372 | &nbsp;&nbsp;&nbsp; 50998<br>|
| &nbsp;&nbsp;&nbsp; National Research Corp. | &nbsp;&nbsp; 2116 | &nbsp;&nbsp;&nbsp; 39717<br>|
| &nbsp;&nbsp;&nbsp; Owens & Minor Inc. | &nbsp;&nbsp; 49154 | &nbsp;&nbsp;&nbsp; 137,631<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Pediatrix Medical Group Inc. | &nbsp;&nbsp; 5910 | &nbsp;&nbsp;&nbsp; 126,415<br> \*<br>|
| *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | &nbsp;&nbsp; *771165* |
| *Health Care Technology — 0.6%* | *Health Care Technology — 0.6%* | *Health Care Technology — 0.6%* |
| &nbsp;&nbsp;&nbsp; GoodRx Holdings Inc., Class A Shares | &nbsp;&nbsp; 32162 | &nbsp;&nbsp;&nbsp; 87,159<br> \*<br>|
| &nbsp;&nbsp;&nbsp; HealthStream Inc. | &nbsp;&nbsp; 2570 | &nbsp;&nbsp;&nbsp; 59290<br>|
| *Total Health Care Technology* | *Total Health Care Technology* | &nbsp;&nbsp; *146449* |
| *Life Sciences Tools & Services — 0.4%* | *Life Sciences Tools & Services — 0.4%* | *Life Sciences Tools & Services — 0.4%* |
| &nbsp;&nbsp;&nbsp; Cytek Biosciences Inc. | &nbsp;&nbsp; 14273 | &nbsp;&nbsp;&nbsp; 72,079<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Niagen Bioscience Inc. | &nbsp;&nbsp; 5650 | &nbsp;&nbsp;&nbsp; 35,934<br> \*<br>|
| *Total Life Sciences Tools & Services* | *Total Life Sciences Tools & Services* | &nbsp;&nbsp; *108013* |
| *Pharmaceuticals — 5.7%* | *Pharmaceuticals — 5.7%* | *Pharmaceuticals — 5.7%* |
| &nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals Inc. | &nbsp;&nbsp; 6991 | &nbsp;&nbsp;&nbsp; 88,087<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Amphastar Pharmaceuticals Inc. | &nbsp;&nbsp; 3037 | &nbsp;&nbsp;&nbsp; 81,331<br> \*<br>|
| &nbsp;&nbsp;&nbsp; ANI Pharmaceuticals Inc. | &nbsp;&nbsp; 613 | &nbsp;&nbsp;&nbsp; 48,390<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Collegium Pharmaceutical Inc. | &nbsp;&nbsp; 2223 | &nbsp;&nbsp;&nbsp; 102,925<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Harmony Biosciences Holdings Inc. | &nbsp;&nbsp; 2855 | &nbsp;&nbsp;&nbsp; 106,834<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Innoviva Inc. | &nbsp;&nbsp; 5885 | &nbsp;&nbsp;&nbsp; 117,641<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Ligand Pharmaceuticals Inc. | &nbsp;&nbsp; 489 | &nbsp;&nbsp;&nbsp; 92,455<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Organon & Co. | &nbsp;&nbsp; 23591 | &nbsp;&nbsp;&nbsp; 169147<br>|
| &nbsp;&nbsp;&nbsp; Pacira BioSciences Inc. | &nbsp;&nbsp; 4879 | &nbsp;&nbsp;&nbsp; 126,268<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Phibro Animal Health Corp., Class A Shares | &nbsp;&nbsp; 1180 | &nbsp;&nbsp;&nbsp; 44085<br>|
| &nbsp;&nbsp;&nbsp; Prestige Consumer Healthcare Inc. | &nbsp;&nbsp; 1493 | &nbsp;&nbsp;&nbsp; 92,103<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Septerna Inc. | &nbsp;&nbsp; 1999 | &nbsp;&nbsp;&nbsp; 55,732<br> \*<br>|
| &nbsp;&nbsp;&nbsp; SIGA Technologies Inc. | &nbsp;&nbsp; 13361 | &nbsp;&nbsp;&nbsp; 81636<br>|
| &nbsp;&nbsp;&nbsp; Supernus Pharmaceuticals Inc. | &nbsp;&nbsp; 2804 | &nbsp;&nbsp;&nbsp; 139,359<br> \*<br>|
| *Total Pharmaceuticals* | *Total Pharmaceuticals* | &nbsp;&nbsp; *1345993* |
| **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **4566036** |
| **Industrials — 12.8%** | **Industrials — 12.8%** | **Industrials — 12.8%** |
| *Aerospace & Defense — 0.4%* | *Aerospace & Defense — 0.4%* | *Aerospace & Defense — 0.4%* |
| &nbsp;&nbsp;&nbsp; Park Aerospace Corp. | &nbsp;&nbsp; 4208 | &nbsp;&nbsp;&nbsp; *89799*<br>|
| *Air Freight & Logistics — 0.2%* | *Air Freight & Logistics — 0.2%* | *Air Freight & Logistics — 0.2%* |
| &nbsp;&nbsp;&nbsp; Radiant Logistics Inc. | &nbsp;&nbsp; 7220 | &nbsp;&nbsp;&nbsp; *45,703*<br> \*<br>|
| *Building Products — 1.7%* | *Building Products — 1.7%* | *Building Products — 1.7%* |
| &nbsp;&nbsp;&nbsp; Gibraltar Industries Inc. | &nbsp;&nbsp; 1668 | &nbsp;&nbsp;&nbsp; 82,466<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Insteel Industries Inc. | &nbsp;&nbsp; 1388 | &nbsp;&nbsp;&nbsp; 43958<br>|
| &nbsp;&nbsp;&nbsp; Janus International Group Inc. | &nbsp;&nbsp; 9312 | &nbsp;&nbsp;&nbsp; 60,901<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Masterbrand Inc. | &nbsp;&nbsp; 15395 | &nbsp;&nbsp;&nbsp; 169,961<br> \*<br>|

---

See Notes to Schedule of Investments.

------

Royce Quant Small-Cap Quality Value ETF 2025 Quarterly Report

------

 **Royce Quant Small-Cap Quality Value ETF**

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| Security | Shares | Value |
| *Building Products — continued* | *Building Products — continued* | *Building Products — continued* |
| &nbsp;&nbsp;&nbsp; Quanex Building Products Corp. | &nbsp;&nbsp; 2635 | &nbsp;&nbsp;&nbsp; $40526<br>|
| *Total Building Products* | *Total Building Products* | &nbsp;&nbsp; *397812* |
| *Commercial Services & Supplies — 1.6%* | *Commercial Services & Supplies — 1.6%* | *Commercial Services & Supplies — 1.6%* |
| &nbsp;&nbsp;&nbsp; ACCO Brands Corp. | &nbsp;&nbsp; 28275 | &nbsp;&nbsp;&nbsp; 105466<br>|
| &nbsp;&nbsp;&nbsp; Ennis Inc. | &nbsp;&nbsp; 4400 | &nbsp;&nbsp;&nbsp; 79244<br>|
| &nbsp;&nbsp;&nbsp; HNI Corp. | &nbsp;&nbsp; 2467 | &nbsp;&nbsp;&nbsp; 103712<br>|
| &nbsp;&nbsp;&nbsp; Liquidity Services Inc. | &nbsp;&nbsp; 1799 | &nbsp;&nbsp;&nbsp; 54,528<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Virco Mfg. Corp. | &nbsp;&nbsp; 5562 | &nbsp;&nbsp;&nbsp; 35541<br>|
| *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | &nbsp;&nbsp; *378491* |
| *Construction & Engineering — 1.4%* | *Construction & Engineering — 1.4%* | *Construction & Engineering — 1.4%* |
| &nbsp;&nbsp;&nbsp; Argan Inc. | &nbsp;&nbsp; 304 | &nbsp;&nbsp;&nbsp; 95249<br>|
| &nbsp;&nbsp;&nbsp; NWPX Infrastructure Inc. | &nbsp;&nbsp; 1673 | &nbsp;&nbsp;&nbsp; 104,546<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Tutor Perini Corp. | &nbsp;&nbsp; 2012 | &nbsp;&nbsp;&nbsp; 134844<br>|
| *Total Construction & Engineering* | *Total Construction & Engineering* | &nbsp;&nbsp; *334639* |
| *Electrical Equipment — 1.0%* | *Electrical Equipment — 1.0%* | *Electrical Equipment — 1.0%* |
| &nbsp;&nbsp;&nbsp; Atkore Inc. | &nbsp;&nbsp; 807 | &nbsp;&nbsp;&nbsp; 51043<br>|
| &nbsp;&nbsp;&nbsp; Powell Industries Inc. | &nbsp;&nbsp; 302 | &nbsp;&nbsp;&nbsp; 96272<br>|
| &nbsp;&nbsp;&nbsp; Sensata Technologies Holding PLC | &nbsp;&nbsp; 2888 | &nbsp;&nbsp;&nbsp; 96141<br>|
| *Total Electrical Equipment* | *Total Electrical Equipment* | &nbsp;&nbsp; *243456* |
| *Machinery — 1.3%* | *Machinery — 1.3%* | *Machinery — 1.3%* |
| &nbsp;&nbsp;&nbsp; Blue Bird Corp. | &nbsp;&nbsp; 1084 | &nbsp;&nbsp;&nbsp; 50,948<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Luxfer Holdings PLC | &nbsp;&nbsp; 4842 | &nbsp;&nbsp;&nbsp; 65512<br>|
| &nbsp;&nbsp;&nbsp; Mayville Engineering Co. Inc. | &nbsp;&nbsp; 1958 | &nbsp;&nbsp;&nbsp; 36,654<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Omega Flex Inc. | &nbsp;&nbsp; 1282 | &nbsp;&nbsp;&nbsp; 37742<br>|
| &nbsp;&nbsp;&nbsp; Terex Corp. | &nbsp;&nbsp; 927 | &nbsp;&nbsp;&nbsp; 49483<br>|
| &nbsp;&nbsp;&nbsp; Wabash National Corp. | &nbsp;&nbsp; 3696 | &nbsp;&nbsp;&nbsp; 31971<br>|
| &nbsp;&nbsp;&nbsp; Worthington Enterprises Inc. | &nbsp;&nbsp; 932 | &nbsp;&nbsp;&nbsp; 48063<br>|
| *Total Machinery* | *Total Machinery* | &nbsp;&nbsp; *320373* |
| *Passenger Airlines — 0.9%* | *Passenger Airlines — 0.9%* | *Passenger Airlines — 0.9%* |
| &nbsp;&nbsp;&nbsp; SkyWest Inc. | &nbsp;&nbsp; 1489 | &nbsp;&nbsp;&nbsp; 149,511<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Sun Country Airlines Holdings Inc. | &nbsp;&nbsp; 3691 | &nbsp;&nbsp;&nbsp; 53,113<br> \*<br>|
| *Total Passenger Airlines* | *Total Passenger Airlines* | &nbsp;&nbsp; *202624* |
| *Professional Services — 3.2%* | *Professional Services — 3.2%* | *Professional Services — 3.2%* |
| &nbsp;&nbsp;&nbsp; Forrester Research Inc. | &nbsp;&nbsp; 9145 | &nbsp;&nbsp;&nbsp; 74,257<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Franklin Covey Co. | &nbsp;&nbsp; 4118 | &nbsp;&nbsp;&nbsp; 69,100<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Insperity Inc. | &nbsp;&nbsp; 3666 | &nbsp;&nbsp;&nbsp; 141948<br>|
| &nbsp;&nbsp;&nbsp; Kelly Services Inc., Class A Shares | &nbsp;&nbsp; 9286 | &nbsp;&nbsp;&nbsp; 81717<br>|
| &nbsp;&nbsp;&nbsp; Kforce Inc. | &nbsp;&nbsp; 3123 | &nbsp;&nbsp;&nbsp; 96563<br>|
| &nbsp;&nbsp;&nbsp; Korn Ferry | &nbsp;&nbsp; 1997 | &nbsp;&nbsp;&nbsp; 131842<br>|
| &nbsp;&nbsp;&nbsp; Resources Connection Inc. | &nbsp;&nbsp; 8926 | &nbsp;&nbsp;&nbsp; 44987<br>|
| &nbsp;&nbsp;&nbsp; TriNet Group Inc.  | &nbsp;&nbsp; 2227 | &nbsp;&nbsp;&nbsp; 131682<br>|
| *Total Professional Services* | *Total Professional Services* | &nbsp;&nbsp; *772096* |
| *Trading Companies & Distributors — 1.1%* | *Trading Companies & Distributors — 1.1%* | *Trading Companies & Distributors — 1.1%* |
| &nbsp;&nbsp;&nbsp; Global Industrial Co. | &nbsp;&nbsp; 1265 | &nbsp;&nbsp;&nbsp; 36963<br>|
| &nbsp;&nbsp;&nbsp; Hudson Technologies Inc. | &nbsp;&nbsp; 9594 | &nbsp;&nbsp;&nbsp; 65,719<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Karat Packaging Inc. | &nbsp;&nbsp; 2328 | &nbsp;&nbsp;&nbsp; 52543<br>|

---

See Notes to Schedule of Investments.

------

Royce Quant Small-Cap Quality Value ETF 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

December 31, 2025

 **Royce Quant Small-Cap Quality Value ETF**

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| Security | Shares | Value |
| *Trading Companies & Distributors — continued* | *Trading Companies & Distributors — continued* | *Trading Companies & Distributors — continued* |
| &nbsp;&nbsp;&nbsp; Rush Enterprises Inc., Class A Shares | &nbsp;&nbsp; 1970 | &nbsp;&nbsp;&nbsp; $106262<br>|
| *Total Trading Companies & Distributors* | *Total Trading Companies & Distributors* | &nbsp;&nbsp; *261487* |
| **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **3046480** |
| **Information Technology — 10.3%** | **Information Technology — 10.3%** | **Information Technology — 10.3%** |
| *Communications Equipment — 0.7%* | *Communications Equipment — 0.7%* | *Communications Equipment — 0.7%* |
| &nbsp;&nbsp;&nbsp; Harmonic Inc. | &nbsp;&nbsp; 5349 | &nbsp;&nbsp;&nbsp; 52,902<br> \*<br>|
| &nbsp;&nbsp;&nbsp; NETGEAR Inc. | &nbsp;&nbsp; 1452 | &nbsp;&nbsp;&nbsp; 35,617<br> \*<br>|
| &nbsp;&nbsp;&nbsp; NetScout Systems Inc. | &nbsp;&nbsp; 3128 | &nbsp;&nbsp;&nbsp; 84,644<br> \*<br>|
| *Total Communications Equipment* | *Total Communications Equipment* | &nbsp;&nbsp; *173163* |
| *Electronic Equipment, Instruments & Components — 4.0%* | *Electronic Equipment, Instruments & Components — 4.0%* | *Electronic Equipment, Instruments & Components — 4.0%* |
| &nbsp;&nbsp;&nbsp; Bel Fuse Inc., Class B Shares | &nbsp;&nbsp; 624 | &nbsp;&nbsp;&nbsp; 105849<br>|
| &nbsp;&nbsp;&nbsp; Benchmark Electronics Inc. | &nbsp;&nbsp; 2069 | &nbsp;&nbsp;&nbsp; 88471<br>|
| &nbsp;&nbsp;&nbsp; Coda Octopus Group Inc. | &nbsp;&nbsp; 4648 | &nbsp;&nbsp;&nbsp; 43,226<br> \*<br>|
| &nbsp;&nbsp;&nbsp; CTS Corp. | &nbsp;&nbsp; 1904 | &nbsp;&nbsp;&nbsp; 81625<br>|
| &nbsp;&nbsp;&nbsp; Daktronics Inc. | &nbsp;&nbsp; 4443 | &nbsp;&nbsp;&nbsp; 87,838<br> \*<br>|
| &nbsp;&nbsp;&nbsp; ePlus Inc.  | &nbsp;&nbsp; 562 | &nbsp;&nbsp;&nbsp; 49287<br>|
| &nbsp;&nbsp;&nbsp; IPG Photonics Corp. | &nbsp;&nbsp; 587 | &nbsp;&nbsp;&nbsp; 42,029<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Itron Inc. | &nbsp;&nbsp; 1100 | &nbsp;&nbsp;&nbsp; 102,146<br> \*<br>|
| &nbsp;&nbsp;&nbsp; M-Tron Industries Inc. | &nbsp;&nbsp; 824 | &nbsp;&nbsp;&nbsp; 43,853<br> \*<br>|
| &nbsp;&nbsp;&nbsp; PC Connection Inc. | &nbsp;&nbsp; 1472 | &nbsp;&nbsp;&nbsp; 85023<br>|
| &nbsp;&nbsp;&nbsp; Plexus Corp. | &nbsp;&nbsp; 423 | &nbsp;&nbsp;&nbsp; 62,181<br> \*<br>|
| &nbsp;&nbsp;&nbsp; ScanSource Inc. | &nbsp;&nbsp; 2108 | &nbsp;&nbsp;&nbsp; 82,339<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Vishay Intertechnology Inc. | &nbsp;&nbsp; 2333 | &nbsp;&nbsp;&nbsp; 33805<br>|
| &nbsp;&nbsp;&nbsp; Vishay Precision Group Inc. | &nbsp;&nbsp; 946 | &nbsp;&nbsp;&nbsp; 36,421<br> \*<br>|
| *Total Electronic Equipment, Instruments & Components* | *Total Electronic Equipment, Instruments & Components* | &nbsp;&nbsp; *944093* |
| *IT Services — 1.4%* | *IT Services — 1.4%* | *IT Services — 1.4%* |
| &nbsp;&nbsp;&nbsp; ASGN Inc. | &nbsp;&nbsp; 2041 | &nbsp;&nbsp;&nbsp; 98,315<br> \*<br>|
| &nbsp;&nbsp;&nbsp; DXC Technology Co. | &nbsp;&nbsp; 11809 | &nbsp;&nbsp;&nbsp; 173,002<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Hackett Group Inc. | &nbsp;&nbsp; 2888 | &nbsp;&nbsp;&nbsp; 56691<br>|
| *Total IT Services* | *Total IT Services* | &nbsp;&nbsp; *328008* |
| *Semiconductors & Semiconductor Equipment — 1.9%* | *Semiconductors & Semiconductor Equipment — 1.9%* | *Semiconductors & Semiconductor Equipment — 1.9%* |
| &nbsp;&nbsp;&nbsp; Diodes Inc. | &nbsp;&nbsp; 1330 | &nbsp;&nbsp;&nbsp; 65,622<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Enphase Energy Inc. | &nbsp;&nbsp; 3423 | &nbsp;&nbsp;&nbsp; 109,707<br> \*<br>|
| &nbsp;&nbsp;&nbsp; inTEST Corp. | &nbsp;&nbsp; 5600 | &nbsp;&nbsp;&nbsp; 41,832<br> \*<br>|
| &nbsp;&nbsp;&nbsp; NVE Corp. | &nbsp;&nbsp; 797 | &nbsp;&nbsp;&nbsp; 47286<br>|
| &nbsp;&nbsp;&nbsp; Penguin Solutions Inc. | &nbsp;&nbsp; 3939 | &nbsp;&nbsp;&nbsp; 77,047<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Photronics Inc. | &nbsp;&nbsp; 3235 | &nbsp;&nbsp;&nbsp; 103,520<br> \*<br>|
| *Total Semiconductors & Semiconductor Equipment* | *Total Semiconductors & Semiconductor Equipment* | &nbsp;&nbsp; *445014* |
| *Software — 2.3%* | *Software — 2.3%* | *Software — 2.3%* |
| &nbsp;&nbsp;&nbsp; A10 Networks Inc. | &nbsp;&nbsp; 5047 | &nbsp;&nbsp;&nbsp; 89281<br>|
| &nbsp;&nbsp;&nbsp; Adeia Inc. | &nbsp;&nbsp; 10437 | &nbsp;&nbsp;&nbsp; 180038<br>|
| &nbsp;&nbsp;&nbsp; Consensus Cloud Solutions Inc. | &nbsp;&nbsp; 2238 | &nbsp;&nbsp;&nbsp; 48,833<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Expensify Inc., Class A Shares | &nbsp;&nbsp; 25477 | &nbsp;&nbsp;&nbsp; 38,470<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Mitek Systems Inc. | &nbsp;&nbsp; 5261 | &nbsp;&nbsp;&nbsp; 55,504<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Progress Software Corp. | &nbsp;&nbsp; 1228 | &nbsp;&nbsp;&nbsp; 52,755<br> \*<br>|

---

See Notes to Schedule of Investments.

------

Royce Quant Small-Cap Quality Value ETF 2025 Quarterly Report

------

 **Royce Quant Small-Cap Quality Value ETF**

(Percentages shown based on Fund net assets)

---

| | | | |
|:---|:---|:---|:---|
| Security |  | Shares | Value |
| *Software — continued* | *Software — continued* | *Software — continued* | *Software — continued* |
| &nbsp;&nbsp;&nbsp; Teradata Corp. | &nbsp;&nbsp;&nbsp; Teradata Corp. | &nbsp;&nbsp; 2856 | &nbsp;&nbsp;&nbsp; $86,937<br> \*<br>|
| *Total Software* | *Total Software* | *Total Software* | &nbsp;&nbsp; *551818* |
| **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **2442096** |
| **Materials — 3.5%** | **Materials — 3.5%** | **Materials — 3.5%** | **Materials — 3.5%** |
| *Chemicals — 1.5%* | *Chemicals — 1.5%* | *Chemicals — 1.5%* | *Chemicals — 1.5%* |
| &nbsp;&nbsp;&nbsp; Cabot Corp. | &nbsp;&nbsp;&nbsp; Cabot Corp. | &nbsp;&nbsp; 2141 | &nbsp;&nbsp;&nbsp; 141905<br>|
| &nbsp;&nbsp;&nbsp; Ecovyst Inc. | &nbsp;&nbsp;&nbsp; Ecovyst Inc. | &nbsp;&nbsp; 5242 | &nbsp;&nbsp;&nbsp; 51,005<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Innospec Inc. | &nbsp;&nbsp;&nbsp; Innospec Inc. | &nbsp;&nbsp; 914 | &nbsp;&nbsp;&nbsp; 69957<br>|
| &nbsp;&nbsp;&nbsp; Minerals Technologies Inc. | &nbsp;&nbsp;&nbsp; Minerals Technologies Inc. | &nbsp;&nbsp; 1325 | &nbsp;&nbsp;&nbsp; 80759<br>|
| *Total Chemicals* | *Total Chemicals* | *Total Chemicals* | &nbsp;&nbsp; *343626* |
| *Construction Materials — 0.4%* | *Construction Materials — 0.4%* | *Construction Materials — 0.4%* | *Construction Materials — 0.4%* |
| &nbsp;&nbsp;&nbsp; United States Lime & Minerals Inc. | &nbsp;&nbsp;&nbsp; United States Lime & Minerals Inc. | &nbsp;&nbsp; 818 | &nbsp;&nbsp;&nbsp; *97947*<br>|
| *Metals & Mining — 1.2%* | *Metals & Mining — 1.2%* | *Metals & Mining — 1.2%* | *Metals & Mining — 1.2%* |
| &nbsp;&nbsp;&nbsp; Compass Minerals International Inc. | &nbsp;&nbsp;&nbsp; Compass Minerals International Inc. | &nbsp;&nbsp; 3449 | &nbsp;&nbsp;&nbsp; 67,738<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Metallus Inc. | &nbsp;&nbsp;&nbsp; Metallus Inc. | &nbsp;&nbsp; 2638 | &nbsp;&nbsp;&nbsp; 45,268<br> \*<br>|
| &nbsp;&nbsp;&nbsp; Olympic Steel Inc. | &nbsp;&nbsp;&nbsp; Olympic Steel Inc. | &nbsp;&nbsp; 1461 | &nbsp;&nbsp;&nbsp; 62509<br>|
| &nbsp;&nbsp;&nbsp; SunCoke Energy Inc. | &nbsp;&nbsp;&nbsp; SunCoke Energy Inc. | &nbsp;&nbsp; 10225 | &nbsp;&nbsp;&nbsp; 73620<br>|
| &nbsp;&nbsp;&nbsp; Worthington Steel Inc. | &nbsp;&nbsp;&nbsp; Worthington Steel Inc. | &nbsp;&nbsp; 1264 | &nbsp;&nbsp;&nbsp; 43760<br>|
| *Total Metals & Mining* | *Total Metals & Mining* | *Total Metals & Mining* | &nbsp;&nbsp; *292895* |
| *Paper & Forest Products — 0.4%* | *Paper & Forest Products — 0.4%* | *Paper & Forest Products — 0.4%* | *Paper & Forest Products — 0.4%* |
| &nbsp;&nbsp;&nbsp; Sylvamo Corp. | &nbsp;&nbsp;&nbsp; Sylvamo Corp. | &nbsp;&nbsp; 2104 | &nbsp;&nbsp;&nbsp; *101308*<br>|
| **Total Materials** | **Total Materials** | **Total Materials** | &nbsp;&nbsp; **835776** |
| **Real Estate — 0.6%** | **Real Estate — 0.6%** | **Real Estate — 0.6%** | **Real Estate — 0.6%** |
| *Real Estate Management & Development — 0.6%* | *Real Estate Management & Development — 0.6%* | *Real Estate Management & Development — 0.6%* | *Real Estate Management & Development — 0.6%* |
| &nbsp;&nbsp;&nbsp; Forestar Group Inc. | &nbsp;&nbsp;&nbsp; Forestar Group Inc. | &nbsp;&nbsp; 2712 | &nbsp;&nbsp;&nbsp; 66,796<br> \*<br>|
| &nbsp;&nbsp;&nbsp; RMR Group Inc., Class A Shares | &nbsp;&nbsp;&nbsp; RMR Group Inc., Class A Shares | &nbsp;&nbsp; 4553 | &nbsp;&nbsp;&nbsp; 67840<br>|
| **Total Real Estate** | **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **134636** |
| **Utilities — 0.3%** | **Utilities — 0.3%** | **Utilities — 0.3%** | **Utilities — 0.3%** |
| *Electric Utilities — 0.3%* | *Electric Utilities — 0.3%* | *Electric Utilities — 0.3%* | *Electric Utilities — 0.3%* |
| &nbsp;&nbsp;&nbsp; Genie Energy Ltd., Class B Shares | &nbsp;&nbsp;&nbsp; Genie Energy Ltd., Class B Shares | &nbsp;&nbsp; 4727 | &nbsp;&nbsp;&nbsp; **65138**<br>|
| **Total Investments before Short-Term Investments (Cost — $23,636,445)** | **Total Investments before Short-Term Investments (Cost — $23,636,445)** | **Total Investments before Short-Term Investments (Cost — $23,636,445)** | &nbsp;&nbsp; **23668593** |
|  | Rate |  |  |
| **Short-Term Investments — 0.3%** | **Short-Term Investments — 0.3%** | **Short-Term Investments — 0.3%** | **Short-Term Investments — 0.3%** |
| &nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, Institutional Class (Cost — $72,781)  | &nbsp;&nbsp; 3.683% | &nbsp;&nbsp; 72781<br>| &nbsp;&nbsp;&nbsp;&nbsp; **72781**<br> <sup>(e)</sup><br>|
| **Total Investments — 100.0% (Cost — $23,709,226)** | **Total Investments — 100.0% (Cost — $23,709,226)** | **Total Investments — 100.0% (Cost — $23,709,226)** | &nbsp;&nbsp; **23741374** |
| &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 0.0%†† | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 0.0%†† | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 0.0%†† | &nbsp;&nbsp;&nbsp; 907 |
| **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | &nbsp;&nbsp; **$23742281** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| †† | Represents less than 0.1%. |
| \* | Non-income producing security. |
| <sup>(a)</sup> | Security is fair valued in accordance with procedures approved by the Board of Trustees (Note 1). |
| <sup>(b)</sup> | Security is valued using significant unobservable inputs (Note 1). |
| <sup>(c)</sup> | Value is less than $1. |
| <sup>(d)</sup> | Restricted security (Note 2). |
| <sup>(e)</sup> | Rate shown is one-day yield as of the end of the reporting period.  |

---

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

See Notes to Schedule of Investments.

------

Royce Quant Small-Cap Quality Value ETF 2025 Quarterly Report

------

Notes to Schedule of Investments (unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**1. Organization and significant accounting policies** 

Royce Quant Small-Cap Quality Value ETF (the "Fund") is a separate diversified investment series of Legg Mason ETF Investment Trust (the "Trust"). The Trust, a Maryland statutory trust, is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company.

The Fund is an actively managed exchange-traded fund ("ETF"). ETFs are funds that trade like other publicly-traded securities. Unlike shares of a mutual fund, which can be bought from and redeemed by the issuing fund by all shareholders at a price based on net asset value ("NAV"), shares of the Fund may be directly purchased from and redeemed by the Fund at NAV solely by certain large institutional investors who have entered into agreements with the Fund's distributor ("Authorized Participants"). Also unlike shares of a mutual fund, shares of the Fund are listed on a national securities exchange and trade in the secondary market at market prices that change throughout the day.

Shares of the Fund are listed and traded at market prices on NASDAQ. The market price for the Fund's shares may be different from the Fund's NAV. The Fund issues and redeems shares at NAV only in blocks of a specified number of shares or multiples thereof ("Creation Units"). Only Authorized Participants may purchase or redeem Creation Units directly with the Fund at NAV. Creation Units are created and redeemed principally in-kind (although under some circumstances its shares are created and redeemed partially for cash). Except when aggregated in Creation Units, shares of the Fund are not redeemable securities. Shareholders who are not Authorized Participants may not redeem shares directly from the Fund at NAV.

The Fund seeks to achieve long-term growth of capital.

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

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

Pursuant to policies adopted by the Board, the Fund's manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Fund's manager is assisted by the Global Fund Valuation Committee (the "Valuation Committee"). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Fund's pricing policies, and reporting to the Fund's manager and the Board. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer's financial statements; the purchase price of the security; the discount from

------

Royce Quant Small-Cap Quality Value ETF 2025 Quarterly Report

------

market value of unrestricted securities of the same class at the time of purchase; analysts' research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

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

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

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

• Level 1 — unadjusted quoted prices in active markets for identical investments

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Long-Term Investments†: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | &nbsp;&nbsp; $4566036 | &nbsp;&nbsp; — | &nbsp;&nbsp; $0<br> \*<br>| &nbsp;&nbsp; $4566036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Common Stocks | &nbsp;&nbsp; 19102557 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 19102557 |
| Total Long-Term Investments | &nbsp;&nbsp; 23668593 | &nbsp;&nbsp; — | &nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp; 23668593 |
| Short-Term Investments† | &nbsp;&nbsp; 72781 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 72781 |
| **Total Investments** | &nbsp;&nbsp; **$23741374** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$0**<br> **\***<br>| &nbsp;&nbsp; **$23741374** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| † | See Schedule of Investments for additional detailed categorizations. |
| \* | Amount represents less than $1. |

---

**2. Restricted securities** 

The following Fund investments are restricted as to resale and, in the absence of readily ascertainable market values, are fair valued in accordance with procedures approved by the Board. <br>

---

| | | |
|:---|:---|:---|
| Security | &nbsp;&nbsp; Number of <br>Shares<br>| Acquisition <br>Date<br>|
| OmniAb Inc., $12.50 <br> EARNOUT, Common <br> Shares<br>| &nbsp;&nbsp; 298 | 11/22<br> $0 <br><sup>(a)</sup><br>&nbsp;&nbsp; $0.00 <br><sup>(b)</sup><br>0.00 %<sup>(c)</sup><br>|
| OmniAb Inc., $15.00 <br> EARNOUT, Common <br> Shares<br>| &nbsp;&nbsp; 298 | 11/22<br> 0 <br><sup>(a)</sup><br>0.00 <br><sup>(b)</sup><br>0.00 <br><sup>(c)</sup><br>|
| **Total** |  | **$0** <br><sup>(a)</sup><br>**$0** <br><sup>(a)</sup><br>&nbsp;&nbsp; **0.00%** <br><sup>(c)</sup><br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amount represents less than $1.

<sup>(b)</sup> Amount represents less than $0.005 per share.

<sup>(c)</sup> Amount represents less than 0.005%.

------

Royce Quant Small-Cap Quality Value ETF 2025 Quarterly Report

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Legg Mason ETF Investment Trust

- **b. Investment Company Act file number:** 811-23096

- **c. CIK number of Registrant:** 0001645194

- **d. LEI of Registrant:** 549300D7ZZ1A7JJ9G964

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

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

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10018

  - **Telephone number:** 1-877-721-1926

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

- **a. Name of Series:** Royce Quant Small-Cap Quality Value ETF

- **b. EDGAR series identifier (if any):** S000058077

- **c. LEI of Series:** 549300PDRO71NW9IHD33

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-12-31

**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:** $23754627.71

**Total Liabilities:** $12346.95

**Net Assets:** $23742280.76

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000190092 | -2.29%               | 2.32%                | 1.39%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $297226.79               | $-953488.29                                |
| Month 2  | $27863.51                | $515961.01                                 |
| Month 3  | $602381.16               | $-299440.05                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Motorcar Parts of America Inc                     | Motorcar Parts of America Inc                     | CUSIP: 620071100<br>LEI: 549300AG4610OSV3H429 | Long             | EC               | CORP              | US        |      4795 | NS      | $59170.30     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| El Pollo Loco Holdings Inc                        | El Pollo Loco Holdings Inc                        | CUSIP: 268603107<br>LEI: 549300EZCBNF4G707K90 | Long             | EC               | CORP              | US        |      5727 | NS      | $59904.42     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Repay Holdings Corp                               | Repay Holdings Corp                               | CUSIP: 76029L100<br>LEI: 2549006EJ42T73ZKUI98 | Long             | EC               | CORP              | US        |     23587 | NS      | $86092.55     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradata Corp                                     | Teradata Corp                                     | CUSIP: 88076W103<br>LEI: 549300JU9SOUHV4U4R71 | Long             | EC               | CORP              | US        |      2856 | NS      | $86936.64     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Collegium Pharmaceutical Inc                      | Collegium Pharmaceutical Inc                      | CUSIP: 19459J104<br>LEI: 54930049FXZMTLW8D496 | Long             | EC               | CORP              | US        |      2223 | NS      | $102924.90    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmonic Inc                                      | Harmonic Inc                                      | CUSIP: 413160102<br>LEI: 549300LRGRD8XC9BTL66 | Long             | EC               | CORP              | US        |      5349 | NS      | $52901.61     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Helix Energy Solutions Group I                    | Helix Energy Solutions Group Inc                  | CUSIP: 42330P107<br>LEI: 416AP2JOUTCWEGSOZW41 | Long             | EC               | CORP              | US        |     14436 | NS      | $90513.72     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| TriNet Group Inc                                  | TriNet Group Inc                                  | CUSIP: 896288107<br>LEI: 5299003FJVBETSFKE990 | Long             | EC               | CORP              | US        |      2227 | NS      | $131682.51    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Orange County Bancorp Inc                         | Orange County Bancorp Inc                         | CUSIP: 68417L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1738 | NS      | $49619.90     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| International Bancshares Corp                     | International Bancshares Corp                     | CUSIP: 459044103<br>LEI: 549300Y16R531AU8TX77 | Long             | EC               | CORP              | US        |      2553 | NS      | $169621.32    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Crescent Energy Co                                | Crescent Energy Co                                | CUSIP: 44952J104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15676 | NS      | $131521.64    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| DocGo Inc                                         | DocGo Inc                                         | CUSIP: 256086109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39935 | NS      | $35054.94     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Spectrum Brands Holdings Inc                      | Spectrum Brands Holdings Inc                      | CUSIP: 84790A105<br>LEI: 549300JM0MJETDD30O20 | Long             | EC               | CORP              | US        |      1656 | NS      | $97836.48     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Rush Enterprises Inc                              | Rush Enterprises Inc                              | CUSIP: 781846209<br>LEI: 529900V3XHTN7A6DFT17 | Long             | EC               | CORP              | US        |      1970 | NS      | $106261.80    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Cal-Maine Foods Inc                               | Cal-Maine Foods Inc                               | CUSIP: 128030202<br>LEI: 549300NHE5WMIEIEMF53 | Long             | EC               | CORP              | US        |      1680 | NS      | $133677.60    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitek Systems Inc                                 | Mitek Systems Inc                                 | CUSIP: 606710200<br>LEI: 549300ABZAQ3R25XG118 | Long             | EC               | CORP              | US        |      5261 | NS      | $55503.55     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| DENTSPLY SIRONA Inc                               | DENTSPLY SIRONA Inc                               | CUSIP: 24906P109<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Long             | EC               | CORP              | US        |      9811 | NS      | $112139.73    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Peoples Bancorp Inc/OH                            | Peoples Bancorp Inc/OH                            | CUSIP: 709789101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1491 | NS      | $44774.73     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Shutterstock Inc                                  | Shutterstock Inc                                  | CUSIP: 825690100<br>LEI: 529900G2TDIS56V0LO22 | Long             | EC               | CORP              | US        |      2071 | NS      | $39556.10     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Talos Energy Inc                                  | Talos Energy Inc                                  | CUSIP: 87484T108<br>LEI: 549300OKFHZ84SFJFT95 | Long             | EC               | CORP              | US        |     13318 | NS      | $146764.36    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Avanos Medical Inc                                | Avanos Medical Inc                                | CUSIP: 05350V106<br>LEI: 549300YCXWOM7NEWMQ58 | Long             | EC               | CORP              | US        |      7115 | NS      | $79901.45     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Kingstone Cos Inc                                 | Kingstone Cos Inc                                 | CUSIP: 496719105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3657 | NS      | $61547.31     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Civista Bancshares Inc                            | Civista Bancshares Inc                            | CUSIP: 178867107<br>LEI: 5493001LX61Z2UVYSC48 | Long             | EC               | CORP              | US        |      4968 | NS      | $110388.96    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens & Minor Inc                                 | Owens & Minor Inc                                 | CUSIP: 690732102<br>LEI: 549300LMT5KQQXCEZ733 | Long             | EC               | CORP              | US        |     49154 | NS      | $137631.20    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Pharmaceuticals Inc                      | Catalyst Pharmaceuticals Inc                      | CUSIP: 14888U101<br>LEI: 5299004O0R5XXLA5H544 | Long             | EC               | CORP              | US        |      4301 | NS      | $100385.34    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Envista Holdings Corp                             | Envista Holdings Corp                             | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |      6266 | NS      | $136034.86    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus International Group Inc                     | Janus International Group Inc                     | CUSIP: 47103N106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9312 | NS      | $60900.48     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Electromed Inc                                    | Electromed Inc                                    | CUSIP: 285409108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1247 | NS      | $36312.64     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| NetScout Systems Inc                              | NetScout Systems Inc                              | CUSIP: 64115T104<br>LEI: 5493005HZXZ3SPNVCV76 | Long             | EC               | CORP              | US        |      3128 | NS      | $84643.68     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| TEGNA Inc                                         | TEGNA Inc                                         | CUSIP: 87901J105<br>LEI: 549300YC5EDBGX85AO10 | Long             | EC               | CORP              | US        |     10082 | NS      | $195691.62    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Udemy Inc                                         | Udemy Inc                                         | CUSIP: 902685106<br>LEI: 2549000T304QU9SAM180 | Long             | EC               | CORP              | US        |     12016 | NS      | $70293.60     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| European Wax Center Inc                           | European Wax Center Inc                           | CUSIP: 29882P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19809 | NS      | $71312.40     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ACADIA Pharmaceuticals Inc                        | ACADIA Pharmaceuticals Inc                        | CUSIP: 004225108<br>LEI: 529900O3044NO0PEA039 | Long             | EC               | CORP              | US        |      3593 | NS      | $95969.03     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Worthington Enterprises Inc                       | Worthington Enterprises Inc                       | CUSIP: 981811102<br>LEI: 1WRCIANKYOIK6KYE5E82 | Long             | EC               | CORP              | US        |       932 | NS      | $48063.24     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| SandRidge Energy Inc                              | SandRidge Energy Inc                              | CUSIP: 80007P869<br>LEI: W1MKPVGS6I5155L7VV67 | Long             | EC               | CORP              | US        |      2485 | NS      | $35858.55     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| BellRing Brands Inc                               | BellRing Brands Inc                               | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |      2934 | NS      | $78425.82     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc                                    | Photronics Inc                                    | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |      3235 | NS      | $103520.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Tidewater Inc                                     | Tidewater Inc                                     | CUSIP: 88642R109<br>LEI: 2549000JA5GRUPLMUH98 | Long             | EC               | CORP              | US        |      1777 | NS      | $89756.27     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Virco Mfg. Corp                                   | Virco Mfg. Corp                                   | CUSIP: 927651109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5562 | NS      | $35541.18     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| REX American Resources Corp                       | REX American Resources Corp                       | CUSIP: 761624105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1172 | NS      | $37879.04     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Phoenix Education Partners Inc                    | Phoenix Education Partners Inc                    | CUSIP: 718968100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2136 | NS      | $64720.80     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Radian Group Inc                                  | Radian Group Inc                                  | CUSIP: 750236101<br>LEI: 54930005OUP720S5U385 | Long             | EC               | CORP              | US        |      2223 | NS      | $80005.77     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyco Group Inc                                   | Weyco Group Inc                                   | CUSIP: 962149100<br>LEI: 549300I10J38MHJELM87 | Long             | EC               | CORP              | US        |      1399 | NS      | $42795.41     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Penguin Solutions Inc                             | Penguin Solutions Inc                             | CUSIP: 706915105<br>LEI: 254900DVWIPOY3GJ8E23 | Long             | EC               | CORP              | US        |      3939 | NS      | $77046.84     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| OmniAb, Inc.                                      | OmniAb, Inc.                                      | CUSIP: 68218J202<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       298 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Cable One Inc                                     | Cable One Inc                                     | CUSIP: 12685J105<br>LEI: 549300648QS85T0XSH18 | Long             | EC               | CORP              | US        |      1046 | NS      | $118041.10    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Industrial Co                              | Global Industrial Co                              | CUSIP: 37892E102<br>LEI: 5493000GO8Z3HEWCGE46 | Long             | EC               | CORP              | US        |      1265 | NS      | $36963.30     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Academy Sports & Outdoors Inc                     | Academy Sports & Outdoors Inc                     | CUSIP: 00402L107<br>LEI: 529900HST589BD301M91 | Long             | EC               | CORP              | US        |      2652 | NS      | $132493.92    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontdoor Inc                                     | Frontdoor Inc                                     | CUSIP: 35905A109<br>LEI: 5493008RB0JZJI3QGZ06 | Long             | EC               | CORP              | US        |      1810 | NS      | $104418.90    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Monte Rosa Therapeutics Inc                       | Monte Rosa Therapeutics Inc                       | CUSIP: 61225M102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3051 | NS      | $47839.68     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Services In                    | Citizens Financial Services Inc                   | CUSIP: 174615104<br>LEI: 5493005JSTWQNVUE0825 | Long             | EC               | CORP              | US        |       908 | NS      | $51774.16     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| NCR Atleos Corp                                   | NCR Atleos Corp                                   | CUSIP: 63001N106<br>LEI: 9845005FC3S0VA714741 | Long             | EC               | CORP              | US        |      3663 | NS      | $139596.93    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Village Super Market Inc                          | Village Super Market Inc                          | CUSIP: 927107409<br>LEI: 25490069686XCNNEMQ07 | Long             | EC               | CORP              | US        |      1920 | NS      | $67958.40     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanex Building Products Corp                     | Quanex Building Products Corp                     | CUSIP: 747619104<br>LEI: 5493000TL30VL5WOAW87 | Long             | EC               | CORP              | US        |      2635 | NS      | $40526.30     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| EverQuote Inc                                     | EverQuote Inc                                     | CUSIP: 30041R108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1752 | NS      | $47304.00     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Parke Bancorp Inc                                 | Parke Bancorp Inc                                 | CUSIP: 700885106<br>LEI: 5493000JF1TWXVD0CR78 | Long             | EC               | CORP              | US        |      4197 | NS      | $105092.88    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| La-Z-Boy Inc                                      | La-Z-Boy Inc                                      | CUSIP: 505336107<br>LEI: 549300WNO1WMN9ZG2519 | Long             | EC               | CORP              | US        |      2284 | NS      | $85124.68     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Radiant Logistics Inc                             | Radiant Logistics Inc                             | CUSIP: 75025X100<br>LEI: 549300HWCW2HBOG4GN20 | Long             | EC               | CORP              | US        |      7220 | NS      | $45702.60     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Northeast Community Bancorp In                    | Northeast Community Bancorp Inc                   | CUSIP: 664121100<br>LEI: 5493007BRYL8596Q9L26 | Long             | EC               | CORP              | US        |      4269 | NS      | $96522.09     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| USANA Health Sciences Inc                         | USANA Health Sciences Inc                         | CUSIP: 90328M107<br>LEI: 549300YTURXE814MAH96 | Long             | EC               | CORP              | US        |      3971 | NS      | $77950.73     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Lifevantage Corp                                  | Lifevantage Corp                                  | CUSIP: 53222K205<br>LEI: 5493001Z5YYT109QZ980 | Long             | EC               | CORP              | US        |      8744 | NS      | $53863.04     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Flex Inc                                    | Omega Flex Inc                                    | CUSIP: 682095104<br>LEI: 254900V3UM4PIXLDNU54 | Long             | EC               | CORP              | US        |      1282 | NS      | $37742.08     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| LeMaitre Vascular Inc                             | LeMaitre Vascular Inc                             | CUSIP: 525558201<br>LEI: 549300FZUBUB7MHY8R17 | Long             | EC               | CORP              | US        |      1096 | NS      | $88885.60     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecovyst Inc                                       | Ecovyst Inc                                       | CUSIP: 27923Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5242 | NS      | $51004.66     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Minerals International                    | Compass Minerals International Inc                | CUSIP: 20451N101<br>LEI: 2549008X9G8XP7YJGC47 | Long             | EC               | CORP              | US        |      3449 | NS      | $67738.36     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Covey Co                                 | Franklin Covey Co                                 | CUSIP: 353469109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4118 | NS      | $69100.04     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Northeast Bank                                    | Northeast Bank                                    | CUSIP: 66405S100<br>LEI: 549300F0LV9TSW34E306 | Long             | EC               | CORP              | US        |       445 | NS      | $46248.85     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Sylvamo Corp                                      | Sylvamo Corp                                      | CUSIP: 871332102<br>LEI: 5493001AOYU1ZOWOC971 | Long             | EC               | CORP              | US        |      2104 | NS      | $101307.60    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Neptune Insurance Holdings Inc                    | Neptune Insurance Holdings Inc                    | CUSIP: 64073B103<br>LEI: 529900I3QTHC0Q1C2D65 | Long             | EC               | CORP              | US        |      3909 | NS      | $113986.44    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Niagen Bioscience Inc                             | Niagen Bioscience Inc                             | CUSIP: 171077407<br>LEI: 529900OPI7B8JPXCVS70 | Long             | EC               | CORP              | US        |      5650 | NS      | $35934.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| MainStreet Bancshares Inc                         | MainStreet Bancshares Inc                         | CUSIP: 56064Y100<br>LEI: 549300FHZZP7SP56TS88 | Long             | EC               | CORP              | US        |      3306 | NS      | $67310.16     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| CorVel Corp                                       | CorVel Corp                                       | CUSIP: 221006109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       558 | NS      | $37759.86     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| STAAR Surgical Co                                 | STAAR Surgical Co                                 | CUSIP: 852312305<br>LEI: 5299006LRHI7OJ8BY308 | Long             | EC               | CORP              | US        |      2608 | NS      | $60218.72     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Midland States Bancorp Inc                        | Midland States Bancorp Inc                        | CUSIP: 597742105<br>LEI: 5493006RHXW9TTBWYC94 | Long             | EC               | CORP              | US        |      3983 | NS      | $84320.11     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Nature's Sunshine Products Inc                    | Nature's Sunshine Products Inc                    | CUSIP: 639027101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3917 | NS      | $84528.86     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| HNI Corp                                          | HNI Corp                                          | CUSIP: 404251100<br>LEI: 549300SKRADLC4O5HV93 | Long             | EC               | CORP              | US        |      2467 | NS      | $103712.68    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresh Del Monte Produce Inc                       | Fresh Del Monte Produce Inc                       | CUSIP: 000000000<br>LEI: 529900I72V9F0FEZR228 | Long             | EC               | CORP              | US        |      5336 | NS      | $190121.68    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| GoodRx Holdings Inc                               | GoodRx Holdings Inc                               | CUSIP: 38246G108<br>LEI: 529900ATKYECI45EHV09 | Long             | EC               | CORP              | US        |     32162 | NS      | $87159.02     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Abercrombie & Fitch Co                            | Abercrombie & Fitch Co                            | CUSIP: 002896207<br>LEI: 5493000J7LL72TOGT983 | Long             | EC               | CORP              | US        |      1383 | NS      | $174078.21    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Spok Holdings Inc                                 | Spok Holdings Inc                                 | CUSIP: 84863T106<br>LEI: 549300HXXANIVN2ICC89 | Long             | EC               | CORP              | US        |      3515 | NS      | $46362.85     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Sally Beauty Holdings Inc                         | Sally Beauty Holdings Inc                         | CUSIP: 79546E104<br>LEI: 529900VXW6E8ONDIQ271 | Long             | EC               | CORP              | US        |      9066 | NS      | $129281.16    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Innoviva Inc                                      | Innoviva Inc                                      | CUSIP: 45781M101<br>LEI: 549300ACOX4QTBES6535 | Long             | EC               | CORP              | US        |      5885 | NS      | $117641.15    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Powell Industries Inc                             | Powell Industries Inc                             | CUSIP: 739128106<br>LEI: 549300V08RO7MX2UBN26 | Long             | EC               | CORP              | US        |       302 | NS      | $96271.56     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Integra LifeSciences Holdings                     | Integra LifeSciences Holdings Corp                | CUSIP: 457985208<br>LEI: WB7IJCYY8YFTENS4O147 | Long             | EC               | CORP              | US        |      2775 | NS      | $34465.50     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Acacia Research Corp                              | Acacia Research Corp                              | CUSIP: 003881307<br>LEI: 529900BCN7BE6ESPDZ72 | Long             | EC               | CORP              | US        |     14611 | NS      | $54645.14     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Korn Ferry                                        | Korn Ferry                                        | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |      1997 | NS      | $131841.94    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| ASGN Inc                                          | ASGN Inc                                          | CUSIP: 00191U102<br>LEI: LZBNYYCBUKY537072438 | Long             | EC               | CORP              | US        |      2041 | NS      | $98314.97     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Monro Inc                                         | Monro Inc                                         | CUSIP: 610236101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1754 | NS      | $35150.16     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Daktronics Inc                                    | Daktronics Inc                                    | CUSIP: 234264109<br>LEI: 549300IOLZ3SG5YUJ288 | Long             | EC               | CORP              | US        |      4443 | NS      | $87838.11     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Coursera Inc                                      | Coursera Inc                                      | CUSIP: 22266M104<br>LEI: 984500573CA1QB7DAC30 | Long             | EC               | CORP              | US        |      7677 | NS      | $56502.72     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| DeFi Development Corp                             | DeFi Development Corp                             | CUSIP: 47100L301<br>LEI: 25490034ZLUY8NYVGU64 | Long             | EC               | CORP              | US        |      6634 | NS      | $33501.70     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Cactus Inc                                        | Cactus Inc                                        | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |      2295 | NS      | $104835.60    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Worthington Steel Inc                             | Worthington Steel Inc                             | CUSIP: 982104101<br>LEI: 2549009ZUUWL3QLK6G24 | Long             | EC               | CORP              | US        |      1264 | NS      | $43759.68     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Aerospace Corp                               | Park Aerospace Corp                               | CUSIP: 70014A104<br>LEI: 5299004AG0G7IB636095 | Long             | EC               | CORP              | US        |      4208 | NS      | $89798.72     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| AMC Networks Inc                                  | AMC Networks Inc                                  | CUSIP: 00164V103<br>LEI: 549300VGG9K75226LR46 | Long             | EC               | CORP              | US        |     12444 | NS      | $118466.88    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| MediaAlpha Inc                                    | MediaAlpha Inc                                    | CUSIP: 58450V104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4543 | NS      | $58831.85     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Terex Corp                                        | Terex Corp                                        | CUSIP: 880779103<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | EC               | CORP              | US        |       927 | NS      | $49483.26     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Polaris Inc                                       | Polaris Inc                                       | CUSIP: 731068102<br>LEI: 549300QJSN8UVWN1EI78 | Long             | EC               | CORP              | US        |      2338 | NS      | $147878.50    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Bird Corp                                    | Blue Bird Corp                                    | CUSIP: 095306106<br>LEI: 5493004ZXJUUWQ65ER59 | Long             | EC               | CORP              | US        |      1084 | NS      | $50948.00     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Angi Inc                                          | Angi Inc                                          | CUSIP: 00183L201<br>LEI: 5493003ENY577E6SZL06 | Long             | EC               | CORP              | US        |      6268 | NS      | $81045.24     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| CONMED Corp                                       | CONMED Corp                                       | CUSIP: 207410101<br>LEI: Z6C0YCECH9DCU5ZIQW84 | Long             | EC               | CORP              | US        |      2131 | NS      | $86518.60     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Bancorp Inc                                  | Home Bancorp Inc                                  | CUSIP: 43689E107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       946 | NS      | $54678.80     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronet Worldwide Inc                             | Euronet Worldwide Inc                             | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |      1553 | NS      | $118198.83    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| iRadimed Corp                                     | iRadimed Corp                                     | CUSIP: 46266A109<br>LEI: 549300YVHWP0YJ1YW816 | Long             | EC               | CORP              | US        |       902 | NS      | $87746.56     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanmi Financial Corp                              | Hanmi Financial Corp                              | CUSIP: 410495204<br>LEI: 549300MSZ7RCG7EA6587 | Long             | EC               | CORP              | US        |      2496 | NS      | $67466.88     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Enphase Energy Inc                                | Enphase Energy Inc                                | CUSIP: 29355A107<br>LEI: 5493008U7KIGMI59Z314 | Long             | EC               | CORP              | US        |      3423 | NS      | $109707.15    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Phinia Inc                                        | Phinia Inc                                        | CUSIP: 71880K101<br>LEI: 254900HG6MORZE1FFM18 | Long             | EC               | CORP              | US        |      1944 | NS      | $121869.36    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| National HealthCare Corp                          | National HealthCare Corp                          | CUSIP: 635906100<br>LEI: 254900PTS11LS1JS2752 | Long             | EC               | CORP              | US        |       372 | NS      | $50997.48     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| White Mountains Insurance Grou                    | White Mountains Insurance Group Ltd               | CUSIP: 000000000<br>LEI: 549300N3FL068JERBG02 | Long             | EC               | CORP              | US        |        59 | NS      | $122603.77    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Buckle Inc/The                                    | Buckle Inc/The                                    | CUSIP: 118440106<br>LEI: 5299007IU0461T3GDL34 | Long             | EC               | CORP              | US        |      3181 | NS      | $169929.02    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| SIGA Technologies Inc                             | SIGA Technologies Inc                             | CUSIP: 826917106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13361 | NS      | $81635.71     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Carter's Inc                                      | Carter's Inc                                      | CUSIP: 146229109<br>LEI: 5299003WAQK4R3L3ZU36 | Long             | EC               | CORP              | US        |      4341 | NS      | $140778.63    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Adeia Inc                                         | Adeia Inc                                         | CUSIP: 00676P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10437 | NS      | $180038.25    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Civitas Resources Inc                             | Civitas Resources Inc                             | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |      5044 | NS      | $136641.96    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Hermes Inc                              | Federated Hermes Inc                              | CUSIP: 314211103<br>LEI: R05X5UQ874RGFF7HHD84 | Long             | EC               | CORP              | US        |      3719 | NS      | $193648.33    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentra Group Holdings Paren                    | Concentra Group Holdings Parent Inc               | CUSIP: 20603L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2356 | NS      | $46366.08     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Bel Fuse Inc                                      | Bel Fuse Inc                                      | CUSIP: 077347300<br>LEI: 2549009L4XYDBRRY6X39 | Long             | EC               | CORP              | US        |       624 | NS      | $105849.12    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| CTS Corp                                          | CTS Corp                                          | CUSIP: 126501105<br>LEI: 549300YV1HQLBVHOI649 | Long             | EC               | CORP              | US        |      1904 | NS      | $81624.48     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay General Bancorp                            | Cathay General Bancorp                            | CUSIP: 149150104<br>LEI: 549300K1SLJ8C97H5L68 | Long             | EC               | CORP              | US        |      2658 | NS      | $128620.62    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Winmark Corp                                      | Winmark Corp                                      | CUSIP: 974250102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        95 | NS      | $38469.30     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Brighthouse Financial Inc                         | Brighthouse Financial Inc                         | CUSIP: 10922N103<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EC               | CORP              | US        |      2597 | NS      | $168259.63    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Webull Corp                                       | Webull Corp                                       | CUSIP: 000000000<br>LEI: 213800YKAMJ8BY75D995 | Long             | EC               | CORP              | US        |      3787 | NS      | $29424.99     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCO Brands Corp                                  | ACCO Brands Corp                                  | CUSIP: 00081T108<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | EC               | CORP              | US        |     28275 | NS      | $105465.75    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Garden & Pet Co                           | Central Garden & Pet Co                           | CUSIP: 153527106<br>LEI: 5493004DVZLD37DJ0H83 | Long             | EC               | CORP              | US        |      2613 | NS      | $84007.95     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Consensus Cloud Solutions Inc                     | Consensus Cloud Solutions Inc                     | CUSIP: 20848V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2238 | NS      | $48833.16     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Flexsteel Industries Inc                          | Flexsteel Industries Inc                          | CUSIP: 339382103<br>LEI: 894500J5Y3ZZOOJXXN24 | Long             | EC               | CORP              | US        |      1302 | NS      | $51415.98     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Superior Group of Cos Inc                         | Superior Group of Cos Inc                         | CUSIP: 868358102<br>LEI: UOX145EEO0TB0ZWX2152 | Long             | EC               | CORP              | US        |      3946 | NS      | $38197.28     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Ligand Pharmaceuticals Inc                        | Ligand Pharmaceuticals Inc                        | CUSIP: 53220K504<br>LEI: 5493008K7TB0IKP37H79 | Long             | EC               | CORP              | US        |       489 | NS      | $92455.23     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Victory Capital Holdings Inc                      | Victory Capital Holdings Inc                      | CUSIP: 92645B103<br>LEI: 549300BN5LH2CIPPHS71 | Long             | EC               | CORP              | US        |      3130 | NS      | $197471.70    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Calavo Growers Inc                                | Calavo Growers Inc                                | CUSIP: 128246105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2057 | NS      | $44739.75     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Vishay Precision Group Inc                        | Vishay Precision Group Inc                        | CUSIP: 92835K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       946 | NS      | $36421.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Kelly Services Inc                                | Kelly Services Inc                                | CUSIP: 488152208<br>LEI: 25490035B2ZPL6RM1974 | Long             | EC               | CORP              | US        |      9286 | NS      | $81716.80     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Innospec Inc                                      | Innospec Inc                                      | CUSIP: 45768S105<br>LEI: 213800SQBACNY5IWJO68 | Long             | EC               | CORP              | US        |       914 | NS      | $69957.56     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Phibro Animal Health Corp                         | Phibro Animal Health Corp                         | CUSIP: 71742Q106<br>LEI: 549300U24SP4AF2JUX52 | Long             | EC               | CORP              | US        |      1180 | NS      | $44084.80     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Gibraltar Industries Inc                          | Gibraltar Industries Inc                          | CUSIP: 374689107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1668 | NS      | $82465.92     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Payoneer Global Inc                               | Payoneer Global Inc                               | CUSIP: 70451X104<br>LEI: 984500491C64C70FF033 | Long             | EC               | CORP              | US        |     15725 | NS      | $88374.50     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Cohen & Steers Inc                                | Cohen & Steers Inc                                | CUSIP: 19247A100<br>LEI: 549300XXIA338A0X2K65 | Long             | EC               | CORP              | US        |      1137 | NS      | $71380.86     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Ziff Davis Inc                                    | Ziff Davis Inc                                    | CUSIP: 48123V102<br>LEI: 5493008OJYGLHD7MXA18 | Long             | EC               | CORP              | US        |      2996 | NS      | $105309.40    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| LCI Industries                                    | LCI Industries                                    | CUSIP: 50189K103<br>LEI: 549300E1B98YNJ1WIQ04 | Long             | EC               | CORP              | US        |      1479 | NS      | $179461.86    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Resources Connection Inc                          | Resources Connection Inc                          | CUSIP: 76122Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8926 | NS      | $44987.04     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Metallus Inc                                      | Metallus Inc                                      | CUSIP: 887399103<br>LEI: 549300QZTZWHDE9HJL14 | Long             | EC               | CORP              | US        |      2638 | NS      | $45268.08     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| WesBanco Inc                                      | WesBanco Inc                                      | CUSIP: 950810101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1354 | NS      | $45006.96     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ICU Medical Inc                                   | ICU Medical Inc                                   | CUSIP: 44930G107<br>LEI: 5493003NRW7LS2QZRH60 | Long             | EC               | CORP              | US        |       327 | NS      | $46653.09     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Kura Oncology Inc                                 | Kura Oncology Inc                                 | CUSIP: 50127T109<br>LEI: 5493005QORQTZCZYOP39 | Long             | EC               | CORP              | US        |      4943 | NS      | $51357.77     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury General Corp                              | Mercury General Corp                              | CUSIP: 589400100<br>LEI: 5493001Q9EXPCEL4W527 | Long             | EC               | CORP              | US        |       449 | NS      | $42232.94     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Insteel Industries Inc                            | Insteel Industries Inc                            | CUSIP: 45774W108<br>LEI: 52990026LKY4MOX3L174 | Long             | EC               | CORP              | US        |      1388 | NS      | $43957.96     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Coda Octopus Group Inc                            | Coda Octopus Group Inc                            | CUSIP: 19188U206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4648 | NS      | $43226.40     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Liquidity Services Inc                            | Liquidity Services Inc                            | CUSIP: 53635B107<br>LEI: 5299002AZ4ULSAXN0G81 | Long             | EC               | CORP              | US        |      1799 | NS      | $54527.69     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| PC Connection Inc                                 | PC Connection Inc                                 | CUSIP: 69318J100<br>LEI: 5299005WPRNIXDV2KM73 | Long             | EC               | CORP              | US        |      1472 | NS      | $85022.72     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Wabash National Corp                              | Wabash National Corp                              | CUSIP: 929566107<br>LEI: 5299004ZAWHQZI5XO485 | Long             | EC               | CORP              | US        |      3696 | NS      | $31970.40     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Taboola.com Ltd                                   | Taboola.com Ltd                                   | CUSIP: 000000000<br>LEI: 984500F5945AFAFFCB30 | Long             | EC               | CORP              | IL        |     24575 | NS      | $113290.75    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| RMR Group Inc/The                                 | RMR Group Inc/The                                 | CUSIP: 74967R106<br>LEI: 549300JP4L34E48UJM16 | Long             | EC               | CORP              | US        |      4553 | NS      | $67839.70     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| NETGEAR Inc                                       | NETGEAR Inc                                       | CUSIP: 64111Q104<br>LEI: 54930067KX3UNRHDWA78 | Long             | EC               | CORP              | US        |      1452 | NS      | $35617.56     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Unity Bancorp Inc                                 | Unity Bancorp Inc                                 | CUSIP: 913290102<br>LEI: 549300Q90ZRNUR65PL93 | Long             | EC               | CORP              | US        |      2470 | NS      | $127748.40    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Scholastic Corp                                   | Scholastic Corp                                   | CUSIP: 807066105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1270 | NS      | $37630.10     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| inTEST Corp                                       | inTEST Corp                                       | CUSIP: 461147100<br>LEI: 549300RJJBPHDOAVDU15 | Long             | EC               | CORP              | US        |      5600 | NS      | $41832.00     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ScanSource Inc                                    | ScanSource Inc                                    | CUSIP: 806037107<br>LEI: 7FHBAN017QDY4K2KP156 | Long             | EC               | CORP              | US        |      2108 | NS      | $82338.48     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| National Research Corp                            | National Research Corp                            | CUSIP: 637372202<br>LEI: 549300FQIORB6GZCYT15 | Long             | EC               | CORP              | US        |      2116 | NS      | $39717.32     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Plexus Corp                                       | Plexus Corp                                       | CUSIP: 729132100<br>LEI: 549300W7HCBI5YT25I79 | Long             | EC               | CORP              | US        |       423 | NS      | $62181.00     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Insperity Inc                                     | Insperity Inc                                     | CUSIP: 45778Q107<br>LEI: 5299000Q0KW7HY5DB751 | Long             | EC               | CORP              | US        |      3666 | NS      | $141947.52    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Cabot Corp                                        | Cabot Corp                                        | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Long             | EC               | CORP              | US        |      2141 | NS      | $141905.48    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| ANI Pharmaceuticals Inc                           | ANI Pharmaceuticals Inc                           | CUSIP: 00182C103<br>LEI: 5493000T6CXTND40YH31 | Long             | EC               | CORP              | US        |       613 | NS      | $48390.22     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadian Asset Management Inc                      | Acadian Asset Management Inc                      | CUSIP: 10948W103<br>LEI: 5493004FTLQNQTBOP608 | Long             | EC               | CORP              | US        |      1804 | NS      | $84788.00     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| G-III Apparel Group Ltd                           | G-III Apparel Group Ltd                           | CUSIP: 36237H101<br>LEI: 529900O5KABM3R3SFM87 | Long             | EC               | CORP              | US        |      3834 | NS      | $111032.64    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Oil-Dri Corp of America                           | Oil-Dri Corp of America                           | CUSIP: 677864100<br>LEI: 549300RSG5KPUH16WH66 | Long             | EC               | CORP              | US        |      1278 | NS      | $62545.32     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ePlus Inc                                         | ePlus Inc                                         | CUSIP: 294268107<br>LEI: 529900FFY8AAFJ21NE91 | Long             | EC               | CORP              | US        |       562 | NS      | $49287.40     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Beer Co Inc/The                            | Boston Beer Co Inc/The                            | CUSIP: 100557107<br>LEI: 529900Q02MQ0DCQNRM58 | Long             | EC               | CORP              | US        |       416 | NS      | $81174.08     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Cass Information Systems Inc                      | Cass Information Systems Inc                      | CUSIP: 14808P109<br>LEI: 549300G7XPIPR7SJ2F38 | Long             | EC               | CORP              | US        |      1590 | NS      | $66016.80     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc                             | Lantheus Holdings Inc                             | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |      2004 | NS      | $133366.20    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Prestige Consumer Healthcare I                    | Prestige Consumer Healthcare Inc                  | CUSIP: 74112D101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1493 | NS      | $92103.17     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Integer Holdings Corp                             | Integer Holdings Corp                             | CUSIP: 45826H109<br>LEI: 549300SUD2ED5XG6X569 | Long             | EC               | CORP              | US        |      1067 | NS      | $83684.81     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Country Airlines Holdings                     | Sun Country Airlines Holdings Inc                 | CUSIP: 866683105<br>LEI: 549300MOHOJN9GH0NJ48 | Long             | EC               | CORP              | US        |      3691 | NS      | $53113.49     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Iridium Communications Inc                        | Iridium Communications Inc                        | CUSIP: 46269C102<br>LEI: 549300U620NVQ4J1CT96 | Long             | EC               | CORP              | US        |      5549 | NS      | $96441.62     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Anika Therapeutics Inc                            | Anika Therapeutics Inc                            | CUSIP: 035255108<br>LEI: 529900R9LS3Z0O6QH455 | Long             | EC               | CORP              | US        |      5148 | NS      | $49472.28     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Strattec Security Corp                            | Strattec Security Corp                            | CUSIP: 863111100<br>LEI: 549300Z394OP8S8TSR40 | Long             | EC               | CORP              | US        |       926 | NS      | $70505.64     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Hamilton Beach Brands Holding                     | Hamilton Beach Brands Holding Co                  | CUSIP: 40701T104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2471 | NS      | $40647.95     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Marine Products Corp                              | Marine Products Corp                              | CUSIP: 568427108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7302 | NS      | $63965.52     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Yelp Inc                                          | Yelp Inc                                          | CUSIP: 985817105<br>LEI: 5299007OU2DOSXPQBO35 | Long             | EC               | CORP              | US        |      2624 | NS      | $79743.36     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Haemonetics Corp                                  | Haemonetics Corp                                  | CUSIP: 405024100<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | EC               | CORP              | US        |      1231 | NS      | $98664.65     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| DXC Technology Co                                 | DXC Technology Co                                 | CUSIP: 23355L106<br>LEI: 549300DOVZ3EDJB7O259 | Long             | EC               | CORP              | US        |     11809 | NS      | $173001.85    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| PROG Holdings Inc                                 | PROG Holdings Inc                                 | CUSIP: 74319R101<br>LEI: 549300DHYTLBOVRXIG52 | Long             | EC               | CORP              | US        |      3360 | NS      | $99086.40     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynavax Technologies Corp                         | Dynavax Technologies Corp                         | CUSIP: 268158201<br>LEI: 549300T5URIXWDILX594 | Long             | EC               | CORP              | US        |      7123 | NS      | $109551.74    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Cytek Biosciences Inc                             | Cytek Biosciences Inc                             | CUSIP: 23285D109<br>LEI: 549300K2J28BOC6FBO89 | Long             | EC               | CORP              | US        |     14273 | NS      | $72078.65     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Embecta Corp                                      | Embecta Corp                                      | CUSIP: 29082K105<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | EC               | CORP              | US        |      7776 | NS      | $92378.88     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| IPG Photonics Corp                                | IPG Photonics Corp                                | CUSIP: 44980X109<br>LEI: 5493002KZ51CADQ94G15 | Long             | EC               | CORP              | US        |       587 | NS      | $42029.20     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Addus HomeCare Corp                               | Addus HomeCare Corp                               | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |       897 | NS      | $96328.83     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Hackett Group Inc/The                             | Hackett Group Inc/The                             | CUSIP: 404609109<br>LEI: 5K016KLIRB6156644289 | Long             | EC               | CORP              | US        |      2888 | NS      | $56691.44     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Amneal Pharmaceuticals Inc                        | Amneal Pharmaceuticals Inc                        | CUSIP: 03168L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6991 | NS      | $88086.60     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Tutor Perini Corp                                 | Tutor Perini Corp                                 | CUSIP: 901109108<br>LEI: 549300FHXYVPW8LJ6D98 | Long             | EC               | CORP              | US        |      2012 | NS      | $134844.24    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Heritage Insurance Holdings In                    | Heritage Insurance Holdings Inc                   | CUSIP: 42727J102<br>LEI: 9845008CCYDD87F66B45 | Long             | EC               | CORP              | US        |      3529 | NS      | $103258.54    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| SkyWest Inc                                       | SkyWest Inc                                       | CUSIP: 830879102<br>LEI: 529900UYS2KGS6Z42P09 | Long             | EC               | CORP              | US        |      1489 | NS      | $149510.49    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Benchmark Electronics Inc                         | Benchmark Electronics Inc                         | CUSIP: 08160H101<br>LEI: 549300W18RHYZOZKOP53 | Long             | EC               | CORP              | US        |      2069 | NS      | $88470.44     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphastar Pharmaceuticals Inc                     | Amphastar Pharmaceuticals Inc                     | CUSIP: 03209R103<br>LEI: 54930055TH0ZLSAQMJ38 | Long             | EC               | CORP              | US        |      3037 | NS      | $81330.86     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| S&T Bancorp Inc                                   | S&T Bancorp Inc                                   | CUSIP: 783859101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       971 | NS      | $38208.85     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Excelerate Energy Inc                             | Excelerate Energy Inc                             | CUSIP: 30069T101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2440 | NS      | $68442.00     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmony Biosciences Holdings I                    | Harmony Biosciences Holdings Inc                  | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2855 | NS      | $106834.10    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| M-Tron Industries Inc                             | M-Tron Industries Inc                             | CUSIP: 55380K109<br>LEI: 529900ECYL9SLLCSE931 | Long             | EC               | CORP              | US        |       824 | NS      | $43853.28     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamond Hill Investment Group                     | Diamond Hill Investment Group Inc                 | CUSIP: 25264R207<br>LEI: 549300AQ6779A0B7VZ57 | Long             | EC               | CORP              | US        |       587 | NS      | $99496.50     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Itron Inc                                         | Itron Inc                                         | CUSIP: 465741106<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | EC               | CORP              | US        |      1100 | NS      | $102146.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parks & Resorts Inc                        | United Parks & Resorts Inc                        | CUSIP: 81282V100<br>LEI: 529900G0H4NV3IIK3269 | Long             | EC               | CORP              | US        |      1247 | NS      | $45266.10     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Union Co/The                              | Western Union Co/The                              | CUSIP: 959802109<br>LEI: 28ID94QU1140NC23S047 | Long             | EC               | CORP              | US        |     15597 | NS      | $145208.07    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Lime & Minerals                     | United States Lime & Minerals Inc                 | CUSIP: 911922102<br>LEI: 549300VGDEEG8RT7VC89 | Long             | EC               | CORP              | US        |       818 | NS      | $97947.32     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Slide Insurance Holdings Inc                      | Slide Insurance Holdings Inc                      | CUSIP: 831349105<br>LEI: 2549004LDWZTPC69SX47 | Long             | EC               | CORP              | US        |      7088 | NS      | $138074.24    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Minerals Technologies Inc                         | Minerals Technologies Inc                         | CUSIP: 603158106<br>LEI: 549300D3I1QU67GP6403 | Long             | EC               | CORP              | US        |      1325 | NS      | $80758.75     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Treasury Obligations Cash Management Fund | Dreyfus Treasury Obligations Cash Management Fund | CUSIP: 261908107<br>LEI: 549300MKKM9KT7BF6329 | Long             | STIV             | RF                | US        |     72781 | NS      | $72781.18     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Hippo Holdings Inc                                | Hippo Holdings Inc                                | CUSIP: 433539202<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1492 | NS      | $44879.36     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacira BioSciences Inc                            | Pacira BioSciences Inc                            | CUSIP: 695127100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4879 | NS      | $126268.52    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Axos Financial Inc                                | Axos Financial Inc                                | CUSIP: 05465C100<br>LEI: 529900D8M56422GK9O25 | Long             | EC               | CORP              | US        |       435 | NS      | $37479.60     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Bioventus Inc                                     | Bioventus Inc                                     | CUSIP: 09075A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7906 | NS      | $58820.64     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Ibotta Inc                                        | Ibotta Inc                                        | CUSIP: 451051106<br>LEI: 54930026OZD4IQ7YR615 | Long             | EC               | CORP              | US        |      2690 | NS      | $61143.70     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Argan Inc                                         | Argan Inc                                         | CUSIP: 04010E109<br>LEI: 529900E4KZWBV9KGBS83 | Long             | EC               | CORP              | US        |       304 | NS      | $95249.28     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Pediatrix Medical Group Inc                       | Pediatrix Medical Group Inc                       | CUSIP: 58502B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5910 | NS      | $126414.90    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Masterbrand Inc                                   | Masterbrand Inc                                   | CUSIP: 57638P104<br>LEI: 549300E0Y4BR5Z9RDZ64 | Long             | EC               | CORP              | US        |     15395 | NS      | $169960.80    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Metropolitan Bank Holding Corp                    | Metropolitan Bank Holding Corp                    | CUSIP: 591774104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       498 | NS      | $38027.28     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Donnelley Financial Solutions                     | Donnelley Financial Solutions Inc                 | CUSIP: 25787G100<br>LEI: 549300O1NPY4J56QCU04 | Long             | EC               | CORP              | US        |      1308 | NS      | $61070.52     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Olympic Steel Inc                                 | Olympic Steel Inc                                 | CUSIP: 68162K106<br>LEI: 549300GQ061U6N6KWJ49 | Long             | EC               | CORP              | US        |      1461 | NS      | $62508.89     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| OmniAb, Inc.                                      | OmniAb, Inc.                                      | CUSIP: 68218J301<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       298 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Karat Packaging Inc                               | Karat Packaging Inc                               | CUSIP: 48563L101<br>LEI: 549300JYUKCQP3P8D632 | Long             | EC               | CORP              | US        |      2328 | NS      | $52542.96     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Tri Pointe Homes Inc                              | Tri Pointe Homes Inc                              | CUSIP: 87265H109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3768 | NS      | $118578.96    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Cricut Inc                                        | Cricut Inc                                        | CUSIP: 22658D100<br>LEI: 254900R3DKAJ28MC0Q39 | Long             | EC               | CORP              | US        |     23942 | NS      | $118512.90    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| American Integrity Insurance G                    | American Integrity Insurance Group Inc            | CUSIP: 026948109<br>LEI: 529900Y2VOV2LYV4OK68 | Long             | EC               | CORP              | US        |      3732 | NS      | $77737.56     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Forrester Research Inc                            | Forrester Research Inc                            | CUSIP: 346563109<br>LEI: 549300UUSFXYLJ80Z897 | Long             | EC               | CORP              | US        |      9145 | NS      | $74257.40     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Progress Software Corp                            | Progress Software Corp                            | CUSIP: 743312100<br>LEI: 549300R65B3JG6972S24 | Long             | EC               | CORP              | US        |      1228 | NS      | $52754.88     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Artisan Partners Asset Managem                    | Artisan Partners Asset Management Inc             | CUSIP: 04316A108<br>LEI: 549300T1FUI6JF63XU51 | Long             | EC               | CORP              | US        |      3486 | NS      | $142019.64    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corp                                      | Visteon Corp                                      | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |       890 | NS      | $84639.00     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Monarch Casino & Resort Inc                       | Monarch Casino & Resort Inc                       | CUSIP: 609027107<br>LEI: 549300AK5FF7KY11V997 | Long             | EC               | CORP              | US        |      1392 | NS      | $133214.40    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Ranger Energy Services Inc                        | Ranger Energy Services Inc                        | CUSIP: 75282U104<br>LEI: 549300J7RIVGVAN0RE23 | Long             | EC               | CORP              | US        |      6010 | NS      | $84019.80     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| National Beverage Corp                            | National Beverage Corp                            | CUSIP: 635017106<br>LEI: 549300O9MZIQJI8TGV17 | Long             | EC               | CORP              | US        |      1851 | NS      | $59028.39     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Veracyte Inc                                      | Veracyte Inc                                      | CUSIP: 92337F107<br>LEI: 529900ESWZRHXOW27Z37 | Long             | EC               | CORP              | US        |      2167 | NS      | $91230.70     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| NBT Bancorp Inc                                   | NBT Bancorp Inc                                   | CUSIP: 628778102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1990 | NS      | $82624.80     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Castle Biosciences Inc                            | Castle Biosciences Inc                            | CUSIP: 14843C105<br>LEI: 2549007M2Q4HLR1XD252 | Long             | EC               | CORP              | US        |      1871 | NS      | $72781.90     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Expensify Inc                                     | Expensify Inc                                     | CUSIP: 30219Q106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25477 | NS      | $38470.27     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Bath & Body Works Inc                             | Bath & Body Works Inc                             | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |      8330 | NS      | $167266.40    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercantile Bank Corp                              | Mercantile Bank Corp                              | CUSIP: 587376104<br>LEI: P16VZZCKTJ5IONL6XE37 | Long             | EC               | CORP              | US        |      2382 | NS      | $114574.20    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Strategic Education Inc                           | Strategic Education Inc                           | CUSIP: 86272C103<br>LEI: 2549002UYIM8Q5EC8H36 | Long             | EC               | CORP              | US        |      1226 | NS      | $98325.20     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Forestar Group Inc                                | Forestar Group Inc                                | CUSIP: 346232101<br>LEI: 549300BC2UB0GHV60V70 | Long             | EC               | CORP              | US        |      2712 | NS      | $66796.56     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Ennis Inc                                         | Ennis Inc                                         | CUSIP: 293389102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4400 | NS      | $79244.00     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp                           | Wintrust Financial Corp                           | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |       512 | NS      | $71587.84     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Genie Energy Ltd                                  | Genie Energy Ltd                                  | CUSIP: 372284208<br>LEI: 52990057E36X8869GX58 | Long             | EC               | CORP              | US        |      4727 | NS      | $65138.06     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudson Technologies Inc                           | Hudson Technologies Inc                           | CUSIP: 444144109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9594 | NS      | $65718.90     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Varex Imaging Corp                                | Varex Imaging Corp                                | CUSIP: 92214X106<br>LEI: 549300CWYWPVCT8E9W67 | Long             | EC               | CORP              | US        |      8038 | NS      | $93642.70     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| RPC Inc                                           | RPC Inc                                           | CUSIP: 749660106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7183 | NS      | $39075.52     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| TripAdvisor Inc                                   | TripAdvisor Inc                                   | CUSIP: 896945201<br>LEI: 549300XVG45PT5BART17 | Long             | EC               | CORP              | US        |      4703 | NS      | $68475.68     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Stride Inc                                        | Stride Inc                                        | CUSIP: 86333M108<br>LEI: 254900BRWS3AFONWU277 | Long             | EC               | CORP              | US        |      1785 | NS      | $115900.05    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Atkore Inc                                        | Atkore Inc                                        | CUSIP: 047649108<br>LEI: 52990002TI38AM4RPV48 | Long             | EC               | CORP              | US        |       807 | NS      | $51042.75     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Emergent BioSolutions Inc                         | Emergent BioSolutions Inc                         | CUSIP: 29089Q105<br>LEI: 549300YW6TUOX8BE5103 | Long             | EC               | CORP              | US        |      6912 | NS      | $85432.32     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Mayville Engineering Co Inc                       | Mayville Engineering Co Inc                       | CUSIP: 578605107<br>LEI: 9845008D43E42A7FC362 | Long             | EC               | CORP              | US        |      1958 | NS      | $36653.76     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Sportswear Co                            | Columbia Sportswear Co                            | CUSIP: 198516106<br>LEI: 549300OTMCIEUXAH5Z60 | Long             | EC               | CORP              | US        |      1964 | NS      | $108196.76    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Perdoceo Education Corp                           | Perdoceo Education Corp                           | CUSIP: 71363P106<br>LEI: 529900X5PCA184O9LY90 | Long             | EC               | CORP              | US        |      4265 | NS      | $125092.45    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| World Kinect Corp                                 | World Kinect Corp                                 | CUSIP: 981475106<br>LEI: D3W7PCXCBRQLL17DZ313 | Long             | EC               | CORP              | US        |      2752 | NS      | $64479.36     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Septerna Inc                                      | Septerna Inc                                      | CUSIP: 81734D104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1999 | NS      | $55732.12     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Dave Inc                                          | Dave Inc                                          | CUSIP: 23834J201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       364 | NS      | $80593.24     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| NVE Corp                                          | NVE Corp                                          | CUSIP: 629445206<br>LEI: 5299003C1ATTWX8X0112 | Long             | EC               | CORP              | US        |       797 | NS      | $47286.01     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Plumas Bancorp                                    | Plumas Bancorp                                    | CUSIP: 729273102<br>LEI: 549300O5TKTXYTYP4G59 | Long             | EC               | CORP              | US        |      1040 | NS      | $46477.60     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Puma Biotechnology Inc                            | Puma Biotechnology Inc                            | CUSIP: 74587V107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11914 | NS      | $70888.30     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Hooker Furnishings Corp                           | Hooker Furnishings Corp                           | CUSIP: 439038100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4315 | NS      | $48716.35     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| A10 Networks Inc                                  | A10 Networks Inc                                  | CUSIP: 002121101<br>LEI: 549300UQD4IWUML81Q35 | Long             | EC               | CORP              | US        |      5047 | NS      | $89281.43     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Kforce Inc                                        | Kforce Inc                                        | CUSIP: 493732101<br>LEI: 5493003RDQQDVXY2SK46 | Long             | EC               | CORP              | US        |      3123 | NS      | $96563.16     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Preferred Bank/Los Angeles CA                     | Preferred Bank/Los Angeles CA                     | CUSIP: 740367404<br>LEI: 5493007K6HGI9G0ECX16 | Long             | EC               | CORP              | US        |      1365 | NS      | $128896.95    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| IDT Corp                                          | IDT Corp                                          | CUSIP: 448947507<br>LEI: 549300JNTN7ZMJDFCL56 | Long             | EC               | CORP              | US        |      1325 | NS      | $67853.25     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Torrid Holdings Inc                               | Torrid Holdings Inc                               | CUSIP: 89142B107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35426 | NS      | $34660.80     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Oscar Health Inc                                  | Oscar Health Inc                                  | CUSIP: 687793109<br>LEI: 254900AE8KDLFDOPKZ19 | Long             | EC               | CORP              | US        |      7232 | NS      | $103923.84    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Tactile Systems Technology Inc                    | Tactile Systems Technology Inc                    | CUSIP: 87357P100<br>LEI: 54930069VDTITHOTKJ98 | Long             | EC               | CORP              | US        |      2633 | NS      | $76357.00     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicell Inc                                      | Omnicell Inc                                      | CUSIP: 68213N109<br>LEI: 5493008RH0GTKHHPZI77 | Long             | EC               | CORP              | US        |       852 | NS      | $38595.60     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensata Technologies Holding P                    | Sensata Technologies Holding PLC                  | CUSIP: 000000000<br>LEI: 529900MS7KFYCY9MS037 | Long             | EC               | CORP              | US        |      2888 | NS      | $96141.52     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Bread Financial Holdings Inc                      | Bread Financial Holdings Inc                      | CUSIP: 018581108<br>LEI: 549300G8S4PO686J7H97 | Long             | EC               | CORP              | US        |       602 | NS      | $44566.06     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Luxfer Holdings PLC                               | Luxfer Holdings PLC                               | CUSIP: 000000000<br>LEI: 21380045UF5SJYZOXE41 | Long             | EC               | CORP              | US        |      4842 | NS      | $65512.26     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Supernus Pharmaceuticals Inc                      | Supernus Pharmaceuticals Inc                      | CUSIP: 868459108<br>LEI: 549300GRM36VBKISYJ58 | Long             | EC               | CORP              | US        |      2804 | NS      | $139358.80    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Corp                              | First Financial Corp                              | CUSIP: 320218100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1985 | NS      | $119933.70    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| American Coastal Insurance Cor                    | American Coastal Insurance Corp                   | CUSIP: 910710102<br>LEI: 5299002P9105LJQA8G51 | Long             | EC               | CORP              | US        |      6097 | NS      | $77005.11     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| American Public Education Inc                     | American Public Education Inc                     | CUSIP: 02913V103<br>LEI: 254900GZNX6TJQGM4S17 | Long             | EC               | CORP              | US        |      1501 | NS      | $56737.80     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| World Acceptance Corp                             | World Acceptance Corp                             | CUSIP: 981419104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       541 | NS      | $75950.99     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Astrana Health Inc                                | Astrana Health Inc                                | CUSIP: 03763A207<br>LEI: 5493008O4R82Q4STJ936 | Long             | EC               | CORP              | US        |      1641 | NS      | $40713.21     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| SunCoke Energy Inc                                | SunCoke Energy Inc                                | CUSIP: 86722A103<br>LEI: 1KF1J2NXQE2PI0QOB943 | Long             | EC               | CORP              | US        |     10225 | NS      | $73620.00     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Merchants Bancorp/IN                              | Merchants Bancorp/IN                              | CUSIP: 58844R108<br>LEI: 54930008Y0GPVLF81889 | Long             | EC               | CORP              | US        |      3089 | NS      | $105211.34    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthStream Inc                                  | HealthStream Inc                                  | CUSIP: 42222N103<br>LEI: 529900OJ88H8635JNH64 | Long             | EC               | CORP              | US        |      2570 | NS      | $59289.90     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocky Brands Inc                                  | Rocky Brands Inc                                  | CUSIP: 774515100<br>LEI: 5299004HQ6GCTW838N96 | Long             | EC               | CORP              | US        |      1190 | NS      | $34902.70     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Utah Medical Products Inc                         | Utah Medical Products Inc                         | CUSIP: 917488108<br>LEI: 5493002R27BBGV8DID60 | Long             | EC               | CORP              | US        |       856 | NS      | $47901.76     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Financial Institutions Inc                        | Financial Institutions Inc                        | CUSIP: 317585404<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3070 | NS      | $95691.90     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| International Money Express In                    | International Money Express Inc                   | CUSIP: 46005L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3465 | NS      | $53222.40     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Vishay Intertechnology Inc                        | Vishay Intertechnology Inc                        | CUSIP: 928298108<br>LEI: 5493009O8F3QQJTCQR75 | Long             | EC               | CORP              | US        |      2333 | NS      | $33805.17     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| NMI Holdings Inc                                  | NMI Holdings Inc                                  | CUSIP: 629209305<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | EC               | CORP              | US        |      3823 | NS      | $155940.17    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| GigaCloud Technology Inc                          | GigaCloud Technology Inc                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       965 | NS      | $37905.20     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Cross Country Healthcare Inc                      | Cross Country Healthcare Inc                      | CUSIP: 227483104<br>LEI: 54930037L0NBIPZ5S663 | Long             | EC               | CORP              | US        |     10790 | NS      | $87399.00     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Seneca Foods Corp                                 | Seneca Foods Corp                                 | CUSIP: 817070501<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       595 | NS      | $65824.85     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| NWPX Infrastructure Inc                           | NWPX Infrastructure Inc                           | CUSIP: 667746101<br>LEI: 54930056VW2CRCZ9RE54 | Long             | EC               | CORP              | US        |      1673 | NS      | $104545.77    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Outdoors Inc                              | Johnson Outdoors Inc                              | CUSIP: 479167108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1478 | NS      | $62741.10     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Organon & Co                                      | Organon & Co                                      | CUSIP: 68622V106<br>LEI: 549300AMCKY57OK2CO56 | Long             | EC               | CORP              | US        |     23591 | NS      | $169147.47    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Diodes Inc                                        | Diodes Inc                                        | CUSIP: 254543101<br>LEI: 549300XP2X1ARVH3BX23 | Long             | EC               | CORP              | US        |      1330 | NS      | $65622.20     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-25

**Name of Applicant:** Legg Mason ETF Investment Trust

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer