# EDGAR Filing Document

**Accession Number:** 0001260667
**File Stem:** 0001162044-23-000218
**Filing Date:** 2023-2
**Character Count:** 36617
**Document Hash:** 001850a17a3ae0438b93f7d641746526
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001162044-23-000218.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0001162044-23-000218

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230221

**DATE AS OF CHANGE**: 20230221

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ANCORA TRUST
- **CENTRAL INDEX KEY:** 0001260667
- **IRS NUMBER:** 020712385
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21418
- **FILM NUMBER:** 23646533

**BUSINESS ADDRESS:**
- **STREET 1:** 6060 PARKLAND BOULEVARD, SUITE 200
- **CITY:** CLEVELAND
- **STATE:** OH
- **ZIP:** 44124
- **BUSINESS PHONE:** 216-825-4000

**MAIL ADDRESS:**
- **STREET 1:** 6060 PARKLAND BOULEVARD, SUITE 200
- **CITY:** CLEVELAND
- **STATE:** OH
- **ZIP:** 44124

## Series and Classes Contracts Data

### Ancora/Thelen Small-Mid Cap (Series ID: S000039307)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000121113 | Class I      | AATIX           |
| C000144725 | Class S      | AATSX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** ANCORA TRUST

- **b. Investment Company Act file number:** 811-21418

- **c. CIK number of Registrant:** 0001260667

- **d. LEI of Registrant:** 549300QN8N2QFNY1O803

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

  - **Street Address 1:** 6060 Parkland Boulevard

  - **City:** Cleveland

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 44124

  - **Telephone number:** 216-348-5401

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

- **a. Name of Series:** Ancora/Thelen Small-Mid Cap Fund

- **b. EDGAR series identifier (if any):** S000039307

- **c. LEI of Series:** 549300NC6ODFXR9U1285

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $136311313.00

**Total Liabilities:** $1108681.00

**Net Assets:** $135202632.00

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000121113 | 12.14%               | 4.63%                | -4.41%               |
| Class ID C000144725 | 12.08%               | 4.70%                | -4.40%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1265319.95             | $16197391.55                               |
| Month 2  | $-875463.56              | $7114762.37                                |
| Month 3  | $-133870.39              | $-6549560.69                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| APi Group Corp.                                | APi Group Corp.                                            | CUSIP: 00187Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    290777 | NS      | $5469515.37   | 4.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Alight, Inc.                                   | Alight, Inc. Class A                                       | CUSIP: 01626W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    320076 | NS      | $2675835.36   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpine Income Property Trust, Inc.             | Alpine Income Property Trust, Inc.                         | CUSIP: 02083X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    123555 | NS      | $2357429.40   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Amplify Energy Corp.                           | Amplify Energy Corp.                                       | CUSIP: 03212B103<br>LEI: J0TW5YQRAZXYN7VEU787 | Long             | EC               | CORP              | US        |     17300 | NS      | $152067.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcosa, Inc.                                   | Arcosa, Inc.                                               | CUSIP: 039653100<br>LEI: 549300WFHLTCZV7D6V29 | Long             | EC               | CORP              | US        |     27819 | NS      | $1511684.46   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| B. Riley Financial, Inc.                       | B. Riley Financial, Inc.                                   | CUSIP: 05580M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8488 | NS      | $290289.60    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| BellRing Brands, Inc.                          | BellRing Brands, Inc.                                      | CUSIP: 07831C103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25500 | NS      | $653820.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corp.                              | Black Hills Corp.                                          | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |     19280 | NS      | $1356155.20   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CTO Realty Growth, Inc.                        | CTO Realty Growth, Inc.                                    | CUSIP: 22948Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     98268 | NS      | $1796339.04   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Cannae Holdings, Inc.                          | Cannae Holdings, Inc.                                      | CUSIP: 13765N107<br>LEI: 549300OGRF1ICI7D2V77 | Long             | EC               | CORP              | US        |     95968 | NS      | $1981739.20   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Cavco Industries, Inc.                         | Cavco Industries, Inc.                                     | CUSIP: 149568107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3336 | NS      | $754770.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| ChampionX Holding, Inc.                        | ChampionX Holding, Inc.                                    | CUSIP: 15872M104<br>LEI: 549300EP2909K6DYYP38 | Long             | EC               | CORP              | US        |     88505 | NS      | $2565759.95   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles River Laboratories International, Inc. | Charles River Laboratories International, Inc.             | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |      4690 | NS      | $1021951.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Chesapeake Energy Corp.                        | Chesapeake Energy Corp.                                    | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     17484 | NS      | $1649965.08   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Churchill Downs, Inc.                          | Churchill Downs, Inc.                                      | CUSIP: 171484108<br>LEI: 529900FODTBQC8MIS994 | Long             | EC               | CORP              | US        |      6333 | NS      | $1338986.19   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Chuy's Holdings, Inc.                          | Chuy's Holdings, Inc.                                      | CUSIP: 171604101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34794 | NS      | $984670.20    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Financial, Inc.                       | Columbia Financial, Inc.                                   | CUSIP: 197641103<br>LEI: 254900B9UDXFOJAZKN61 | Long             | EC               | CORP              | US        |     97156 | NS      | $2100512.72   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentrix Corp.                               | Concentrix Corp.                                           | CUSIP: 20602D101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10593 | NS      | $1410563.88   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Consensus Cloud Solutions, Inc.                | Consensus Cloud Solutions, Inc.                            | CUSIP: 20848V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41667 | NS      | $2240017.92   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corporation               | Constellation Energy Corp.                                 | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |     22020 | NS      | $1898344.20   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane Hldgs Co                                 | Crane Holdings Co.                                         | CUSIP: 224441105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3520 | NS      | $353584.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream, Inc.                             | DT Midstream, Inc.                                         | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     52813 | NS      | $2918446.38   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Dave & Buster's Entertainment, Inc.            | Dave & Buster's Entertainment, Inc.                        | CUSIP: 238337109<br>LEI: 529900WTVU85QZLYHR86 | Long             | EC               | CORP              | US        |     46180 | NS      | $1636619.20   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Dine Brands Global, Inc.                       | Dine Brands Global, Inc.                                   | CUSIP: 254423106<br>LEI: 529900HKM8OWSHLKJY75 | Long             | EC               | CORP              | US        |     24546 | NS      | $1585671.60   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Distribution Solutions Group, Inc.             | Distribution Solutions Group, Inc.                         | CUSIP: 520776105<br>LEI: 549300H1YXSE5TXMGL51 | Long             | EC               | CORP              | US        |     31047 | NS      | $1144392.42   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| ESAB Corporation                               | ESAB Corp.                                                 | CUSIP: 29605J106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17068 | NS      | $800830.56    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp.                         | Encompass Health Corp.                                     | CUSIP: 29261A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12440 | NS      | $744036.40    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Enhabit, Inc                                   | Enhabit, Inc.                                              | CUSIP: 29332G102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    140330 | NS      | $1846742.80   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Enovis Corp.                                   | Enovis Corp.                                               | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Long             | EC               | CORP              | US        |     16056 | NS      | $859317.12    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| F&G Annuities & Life Inc                       | F&G Annuities & Life, Inc.                                 | CUSIP: 30190A104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     85922 | NS      | $1719299.22   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Agricultural Mortgage Corp.            | Federal Agricultural Mortgage Corp.                        | CUSIP: 313148306<br>LEI: 549300MS654K78GYF580 | Long             | EC               | CORP              | US        |     19475 | NS      | $2195027.25   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds, Inc.                     | First American Funds Institutional Government Fund Class Y | CUSIP: 31846V203<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |    426098 | NS      | $426098.11    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortune Brands Home & Security, Inc.           | Fortune Brands Innovations, Inc.                           | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Long             | EC               | CORP              | US        |     49133 | NS      | $2805985.63   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties, Inc.            | Gaming and Leisure Properties, Inc.                        | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |     32406 | NS      | $1688028.54   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Gold Resource Corp.                            | Gold Resource Corp.                                        | CUSIP: 38068T105<br>LEI: 5299006MQBYLDAOI2D32 | Long             | EC               | CORP              | US        |    340200 | NS      | $520506.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Golden Entertainment, Inc.                     | Golden Entertainment, Inc.                                 | CUSIP: 381013101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11340 | NS      | $424116.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Schein, Inc.                             | Henry Schein, Inc.                                         | CUSIP: 806407102<br>LEI: VGO3WGL8H45T73F4RR92 | Long             | EC               | CORP              | US        |     37554 | NS      | $2999437.98   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillman Solutions Corp.                        | Hillman Solutions Corp.                                    | CUSIP: 431636109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    143550 | NS      | $1034995.50   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Hooker Furnishings Corp.                       | Hooker Furniture Corp.                                     | CUSIP: 439038100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37932 | NS      | $709328.40    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Houlihan Lokey, Inc.                           | Houlihan Lokey, Inc. Class A                               | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |     13976 | NS      | $1218148.16   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Howard Hughes Corp.                            | Howard Hughes Corp.                                        | CUSIP: 44267D107<br>LEI: 549300BVHY25JZC1KI49 | Long             | EC               | CORP              | US        |     16860 | NS      | $1288441.20   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| IAC/InterActive Corp.                          | IAC/InterActive Corp.                                      | CUSIP: 44891N208<br>LEI: 15OMOPB0A8K0EFUVD031 | Long             | EC               | CORP              | US        |     30240 | NS      | $1342656.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Information Services Group, Inc.               | Information Services Group, Inc.                           | CUSIP: 45675Y104<br>LEI: 549300ZUNI6DQ0G8Q273 | Long             | EC               | CORP              | US        |     72010 | NS      | $331246.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingevity Corporation                           | Ingevity Corp.                                             | CUSIP: 45688C107<br>LEI: 5493009UTFC4B5IMGF87 | Long             | EC               | CORP              | US        |     42800 | NS      | $3014832.00   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Inspired Entertainment, Inc.                   | Inspired Entertainment, Inc.                               | CUSIP: 45782N108<br>LEI: 549300ZUGYK6NBIU6D69 | Long             | EC               | CORP              | US        |    100870 | NS      | $1278022.90   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| JBG SMITH Properties                           | JBG SMITH Properties                                       | CUSIP: 46590V100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28750 | NS      | $545675.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Jackson Financial, Inc.                        | Jackson Financial, Inc.                                    | CUSIP: 46817M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    120966 | NS      | $4208407.14   | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| John Bean Technologies Corp.                   | John Bean Technologies Corp.                               | CUSIP: 477839104<br>LEI: 5493007CT6ATBZ2L6826 | Long             | EC               | CORP              | US        |      6870 | NS      | $627437.10    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Kontoor Brands, Inc.                           | Kontoor Brands, Inc.                                       | CUSIP: 50050N103<br>LEI: 549300M0CPXV65RFF271 | Long             | EC               | CORP              | US        |     11542 | NS      | $461564.58    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamb Weston Holdings, Inc.                     | Lamb Weston Holdings, Inc.                                 | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |     13290 | NS      | $1187594.40   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp.                            | Liberty Braves Series C                                    | CUSIP: 531229888<br>LEI: 549300ZKUTPIBZLWLL89 | Long             | EC               | CORP              | US        |     44275 | NS      | $1426983.25   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp.                            | Liberty SiriusXM Series C                                  | CUSIP: 531229607<br>LEI: 549300ZKUTPIBZLWLL89 | Long             | EC               | CORP              | US        |     64830 | NS      | $2536797.90   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Limoneira Company                              | Limoneira Co.                                              | CUSIP: 532746104<br>LEI: 549300UCPZVJGYHI7550 | Long             | EC               | CORP              | US        |     20870 | NS      | $254822.70    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Montana-Dakota Utilities Co.                   | MDU Resources Group, Inc.                                  | CUSIP: 552690109<br>LEI: 0T6SBMK3JTBI1JR36794 | Long             | EC               | CORP              | US        |     61906 | NS      | $1878228.04   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Masco Corp.                                    | Masco Corp.                                                | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | EC               | CORP              | US        |     22939 | NS      | $1070563.13   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Masterbrand Inc                                | Masterbrand, Inc.                                          | CUSIP: 57638P104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    289672 | NS      | $2187023.60   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| ModivCare, Inc.                                | ModivCare, Inc.                                            | CUSIP: 60783X104<br>LEI: 549300EFZIFW7F7I0Q28 | Long             | EC               | CORP              | US        |     11030 | NS      | $989721.90    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy, Inc.                               | NRG Energy, Inc.                                           | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |     10920 | NS      | $347474.40    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| National Fuel Gas Co.                          | National Fuel Gas Co.                                      | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     38839 | NS      | $2458508.70   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomad Foods Ltd.                               | Nomad Foods Ltd.                                           | CUSIP: G6564A105<br>LEI: 5493000ZZ1837DS2SI43 | Long             | EC               | CORP              | VI        |    151883 | NS      | $2618462.92   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrim BanCorp Inc.                          | Northrim BanCorp, Inc.                                     | CUSIP: 666762109<br>LEI: 5493006X7RLLTZ3SG075 | Long             | EC               | CORP              | US        |     21851 | NS      | $1192409.07   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Organon & Co.                                  | Organon & Co.                                              | CUSIP: 68622V106<br>LEI: 549300AMCKY57OK2CO56 | Long             | EC               | CORP              | US        |    116770 | NS      | $3261386.10   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Orion Engineered Carbons S.A.                  | Orion Engineered Carbons S.A.                              | CUSIP: L72967109<br>LEI: N/A                  | Long             | EC               | CORP              | LU        |     31020 | NS      | $552466.20    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Osisko Gold Royalties Ltd.                     | Osisko Gold Royalties Ltd.                                 | CUSIP: 68827L101<br>LEI: 549300TJZTXZMPQ6K004 | Long             | EC               | CORP              | CA        |    227855 | NS      | $2750209.85   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Perella Weinberg Partners                      | Perella Weinberg Partners                                  | CUSIP: 71367G102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     94775 | NS      | $928795.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Postal Realty Trust, Inc.                      | Postal Realty Trust, Inc.                                  | CUSIP: 73757R102<br>LEI: 5493007B7ZZSIJRGWC41 | Long             | EC               | CORP              | US        |     48923 | NS      | $710851.19    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| PotlatchDeltic Corp.                           | PotlatchDeltic Corp.                                       | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               | CORP              | US        |     39684 | NS      | $1745699.16   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Primo Water Corp.                              | Primo Water Corp.                                          | CUSIP: 74167P108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    117440 | NS      | $1825017.60   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| RGC Resources, Inc.                            | RGC Resources, Inc.                                        | CUSIP: 74955L103<br>LEI: 549300GO68EPQLQ7MK06 | Long             | EC               | CORP              | US        |      5751 | NS      | $126809.55    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial, Inc.                  | Raymond James Financial, Inc.                              | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |     12728 | NS      | $1359986.80   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Ritchie Bros. Auctioneers, Inc.                | Ritchie Bros. Auctioneers, Inc.                            | CUSIP: 767744105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      3970 | NS      | $229585.10    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Scholastic Corp.                               | Scholastic Corp.                                           | CUSIP: 807066105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39101 | NS      | $1542925.46   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Spectrum Brands Holdings, Inc.                 | Spectrum Brands Holdings, Inc.                             | CUSIP: 84790A105<br>LEI: 549300JM0MJETDD30O20 | Long             | EC               | CORP              | US        |     11090 | NS      | $675602.80    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneX Group, Inc.                             | StoneX Group, Inc.                                         | CUSIP: 861896108<br>LEI: 549300JUF07L8VF02M60 | Long             | EC               | CORP              | US        |      8218 | NS      | $783175.40    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Sylvamo Corp.                                  | Sylvamo Corp.                                              | CUSIP: 871332102<br>LEI: 5493001AOYU1ZOWOC971 | Long             | EC               | CORP              | US        |     39450 | NS      | $1916875.50   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| The Aaron's Co, Inc.                           | The Aaron's Co, Inc.                                       | CUSIP: 00258W108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10840 | NS      | $129538.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Gorman Rupp Co                                 | The Gorman-Rupp Co.                                        | CUSIP: 383082104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41830 | NS      | $1071684.60   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| The Pennant Group, Inc.                        | The Pennant Group, Inc.                                    | CUSIP: 70805E109<br>LEI: 5493007H2OYR6BYLDA64 | Long             | EC               | CORP              | US        |     25384 | NS      | $278716.32    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Thryv Holdings, Inc.                           | Thryv Holdings, Inc.                                       | CUSIP: 886029206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41288 | NS      | $784472.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Tilly's, Inc.                                  | Tilly's, Inc. Class A                                      | CUSIP: 886885102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     54780 | NS      | $495759.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Travel N Leisure Co.                           | Travel N Leisure Co.                                       | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | EC               | CORP              | US        |     64932 | NS      | $2363524.80   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Utah Medical Products, Inc.                    | Utah Medical Products, Inc.                                | CUSIP: 917488108<br>LEI: 5493002R27BBGV8DID60 | Long             | EC               | CORP              | US        |      9818 | NS      | $987003.54    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Valvoline, Inc.                                | Valvoline, Inc.                                            | CUSIP: 92047W101<br>LEI: 549300CMHPBEY6VPOT75 | Long             | EC               | CORP              | US        |     49795 | NS      | $1625806.75   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Vectrus, Inc.                                  | Vectrus, Inc.                                              | CUSIP: 92242T101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    113634 | NS      | $4691947.86   | 3.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Victoria's Secret & Co.                        | Victoria's Secret & Co.                                    | CUSIP: 926400102<br>LEI: 5493006T3O70U3UWVF17 | Long             | EC               | CORP              | US        |     14780 | NS      | $528828.40    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Energy Corp.                            | Vistra Energy Corp.                                        | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |     70168 | NS      | $1627897.60   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Vontier Corp.                                  | Vontier Corp.                                              | CUSIP: 928881101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     95250 | NS      | $1841182.50   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Financial, Inc.                           | Voya Financial, Inc.                                       | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |     15380 | NS      | $945716.20    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyco Group, Inc.                              | Weyco Group, Inc.                                          | CUSIP: 962149100<br>LEI: 549300I10J38MHJELM87 | Long             | EC               | CORP              | US        |     25224 | NS      | $533739.84    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolverine World Wide, Inc.                     | Wolverine World Wide, Inc.                                 | CUSIP: 978097103<br>LEI: 549300OVC7PK14LQ8D87 | Long             | EC               | CORP              | US        |    123902 | NS      | $1354248.86   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Wyndham Hotels & Resorts, Inc.                 | Wyndham Hotels & Resorts, Inc.                             | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |     31401 | NS      | $2239205.31   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Ziff Davis, Inc.                               | Ziff Davis, Inc.                                           | CUSIP: 48123V102<br>LEI: 5493008OJYGLHD7MXA18 | Long             | EC               | CORP              | US        |      8631 | NS      | $682712.10    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimvie, Inc.                                   | ZimVie, Inc.                                               | CUSIP: 98888T107<br>LEI: 549300GFKURT1J6XR665 | Long             | EC               | CORP              | US        |    144800 | NS      | $1352432.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-30

**Name of Applicant:** Ancora Trust

**Signature:** /s/ Bradley Zucker

**Name of Signer:** Bradley Zucker

**Title:** President, Treasurer and Secretary