# EDGAR Filing Document

**Accession Number:** 0001643174
**File Stem:** 0001145549-25-047311
**Filing Date:** 2025-7
**Character Count:** 102218
**Document Hash:** c8f1efb71dec5acb0a9fd0d0df4ee51c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-047311.hdr.sgml**: 20250724

**ACCESSION NUMBER**: 0001145549-25-047311

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250724

**DATE AS OF CHANGE**: 20250723

**PERIOD START**: 20251130

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23063
- **FILM NUMBER:** 251144187

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

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

## Series and Classes Contracts Data

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

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Charlotte

  - **State:** NC

  - **Foreign country:** US

  - **Zip / Postal Code:** 28277

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

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

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

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

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

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

- **a. Date of fiscal year-end:** 2025-11-30

- **b. Date as of which information is reported:** 2025-05-31

**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:** $454557883.77

**Total Liabilities:** $463118.53

**Net Assets:** $454094765.24

**Cash Not Reported:** $807432.47

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000240165 | -5.39%               | -1.24%               | 5.04%                |
| Class ID C000240166 | -5.42%               | -1.24%               | 5.02%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-10447171.91            | $-10807142.95                              |
| Month 2  | $-504451.07              | $-3980150.11                               |
| Month 3  | $-6960168.16             | $27458321.52                               |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                           | Title                                    | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| EPR Properties                 | EPR Properties                           | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |      8893 | NS      | $495251.17    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ePlus Inc                      | ePlus Inc                                | CUSIP: 294268107<br>LEI: 529900FFY8AAFJ21NE91 | Long             | EC               | CORP              | US        |      7024 | NS      | $501302.88    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| HNI Corp                       | HNI Corp                                 | CUSIP: 404251100<br>LEI: 549300SKRADLC4O5HV93 | Long             | EC               | CORP              | US        |     12863 | NS      | $598515.39    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Heartland Express Inc          | Heartland Express Inc                    | CUSIP: 422347104<br>LEI: 5299005V45FZIQGLOG39 | Long             | EC               | CORP              | US        |     59089 | NS      | $528846.55    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Heidrick & Struggles Internati | Heidrick & Struggles International Inc   | CUSIP: 422819102<br>LEI: 5493006284N2J367VB57 | Long             | EC               | CORP              | US        |     11138 | NS      | $486285.08    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilltop Holdings Inc           | Hilltop Holdings Inc                     | CUSIP: 432748101<br>LEI: 54930010TA543US0PM65 | Long             | EC               | CORP              | US        |     25068 | NS      | $747527.76    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Horace Mann Educators Corp     | Horace Mann Educators Corp               | CUSIP: 440327104<br>LEI: 254900G5YAV3A2YK8T32 | Long             | EC               | CORP              | US        |     18133 | NS      | $787516.19    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Houlihan Lokey Inc             | Houlihan Lokey Inc                       | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |     18908 | NS      | $3302849.44   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Hub Group Inc                  | Hub Group Inc                            | CUSIP: 443320106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13570 | NS      | $457444.70    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingredion Inc                  | Ingredion Inc                            | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |     27452 | NS      | $3819122.24   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovex International Inc      | Innovex International Inc                | CUSIP: 457651107<br>LEI: 5299007REICYIJNMW197 | Long             | EC               | CORP              | US        |     28848 | NS      | $398102.40    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Insteel Industries Inc         | Insteel Industries Inc                   | CUSIP: 45774W108<br>LEI: 52990026LKY4MOX3L174 | Long             | EC               | CORP              | US        |     12993 | NS      | $455014.86    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Innoviva Inc                   | Innoviva Inc                             | CUSIP: 45781M101<br>LEI: 549300ACOX4QTBES6535 | Long             | EC               | CORP              | US        |     23559 | NS      | $461049.63    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Interactive Brokers Group Inc  | Interactive Brokers Group Inc            | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |     46662 | NS      | $9784088.16   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Interface Inc                  | Interface Inc                            | CUSIP: 458665304<br>LEI: 549300VXZWQOIDFPU355 | Long             | EC               | CORP              | US        |     23020 | NS      | $462471.80    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| InterDigital Inc               | InterDigital Inc                         | CUSIP: 45867G101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2139 | NS      | $464719.14    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| International Bancshares Corp  | International Bancshares Corp            | CUSIP: 459044103<br>LEI: 549300Y16R531AU8TX77 | Long             | EC               | CORP              | US        |     25978 | NS      | $1627002.14   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Itron Inc                      | Itron Inc                                | CUSIP: 465741106<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | EC               | CORP              | US        |     10517 | NS      | $1215765.20   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| KB Home                        | KB Home                                  | CUSIP: 48666K109<br>LEI: 549300LGUCWQURMWLG09 | Long             | EC               | CORP              | US        |      8108 | NS      | $418210.64    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirby Corp                     | Kirby Corp                               | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |     11468 | NS      | $1268819.52   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Koppers Holdings Inc           | Koppers Holdings Inc                     | CUSIP: 50060P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17583 | NS      | $540149.76    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Korn Ferry                     | Korn Ferry                               | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |     10179 | NS      | $692273.79    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| LCI Industries                 | LCI Industries                           | CUSIP: 50189K103<br>LEI: 549300E1B98YNJ1WIQ04 | Long             | EC               | CORP              | US        |      5659 | NS      | $493125.26    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| LTC Properties Inc             | LTC Properties Inc                       | CUSIP: 502175102<br>LEI: 549300NRZP8IJG2KY677 | Long             | EC               | CORP              | US        |     12360 | NS      | $437420.40    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Lindsay Corp                   | Lindsay Corp                             | CUSIP: 535555106<br>LEI: 549300ZFO0QG5H8TPI61 | Long             | EC               | CORP              | US        |      3383 | NS      | $471590.20    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Lithia Motors Inc              | Lithia Motors Inc                        | CUSIP: 536797103<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | EC               | CORP              | US        |      4673 | NS      | $1480920.43   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| LiveRamp Holdings Inc          | LiveRamp Holdings Inc                    | CUSIP: 53815P108<br>LEI: 254900GXS75LG1X7RF88 | Long             | EC               | CORP              | US        |     16733 | NS      | $545161.14    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Louisiana-Pacific Corp         | Louisiana-Pacific Corp                   | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |     24980 | NS      | $2249948.60   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumen Technologies Inc         | Lumen Technologies Inc                   | CUSIP: 550241103<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | EC               | CORP              | US        |    123447 | NS      | $483912.24    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| M/I Homes Inc                  | M/I Homes Inc                            | CUSIP: 55305B101<br>LEI: 5299005M71FH9CCSFB69 | Long             | EC               | CORP              | US        |      6486 | NS      | $691472.46    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| EZCORP Inc                     | EZCORP Inc                               | CUSIP: 302301106<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | EC               | CORP              | US        |     28553 | NS      | $384037.85    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Hermes Inc           | Federated Hermes Inc                     | CUSIP: 314211103<br>LEI: R05X5UQ874RGFF7HHD84 | Long             | EC               | CORP              | US        |     36399 | NS      | $1536037.80   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Financial In | Fidelity National Financial Inc          | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |    134297 | NS      | $7355446.69   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Madison Square Garden Sports C | Madison Square Garden Sports Corp        | CUSIP: 55825T103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5095 | NS      | $967489.55    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnolia Oil & Gas Corp        | Magnolia Oil & Gas Corp                  | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20981 | NS      | $451091.50    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Graham Holdings Co             | Graham Holdings Co                       | CUSIP: 384637104<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | EC               | CORP              | US        |      2104 | NS      | $2008078.64   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Grand Canyon Education Inc     | Grand Canyon Education Inc               | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |     12309 | NS      | $2435274.11   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Green Brick Partners Inc       | Green Brick Partners Inc                 | CUSIP: 392709101<br>LEI: 549300R7SCIV7FQI6T56 | Long             | EC               | CORP              | US        |      9931 | NS      | $580466.95    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Greif Inc                      | Greif Inc                                | CUSIP: 397624107<br>LEI: 54930070FVGKR0Z1FI24 | Long             | EC               | CORP              | US        |      8418 | NS      | $468040.80    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Matson Inc                     | Matson Inc                               | CUSIP: 57686G105<br>LEI: 549300OI5H3Y0I9I4I12 | Long             | EC               | CORP              | US        |     10440 | NS      | $1178154.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Mattel Inc                     | Mattel Inc                               | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |     69168 | NS      | $1310041.92   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV Inc                        | NOV Inc                                  | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |     36868 | NS      | $442416.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| OGE Energy Corp                | OGE Energy Corp                          | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |     47731 | NS      | $2122597.57   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Maximus Inc                    | Maximus Inc                              | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |     21995 | NS      | $1594857.45   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury General Corp           | Mercury General Corp                     | CUSIP: 589400100<br>LEI: 5493001Q9EXPCEL4W527 | Long             | EC               | CORP              | US        |     26184 | NS      | $1688344.32   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| OFG Bancorp                    | OFG Bancorp                              | CUSIP: 67103X102<br>LEI: 549300Q4QEXJ37LEXQ06 | Long             | EC               | CORP              | PR        |     15122 | NS      | $622119.08    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Republic International Cor | Old Republic International Corp          | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |    111733 | NS      | $4223507.40   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Monarch Casino & Resort Inc    | Monarch Casino & Resort Inc              | CUSIP: 609027107<br>LEI: 549300AK5FF7KY11V997 | Long             | EC               | CORP              | US        |      7054 | NS      | $590701.96    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries Inc         | Mueller Industries Inc                   | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |     37251 | NS      | $2900735.37   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Water Products Inc     | Mueller Water Products Inc               | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |     17648 | NS      | $432905.44    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy USA Inc                 | Murphy USA Inc                           | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |      4674 | NS      | $1994816.46   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Gold Inc                 | Royal Gold Inc                           | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |     16751 | NS      | $2983688.12   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryder System Inc               | Ryder System Inc                         | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | EC               | CORP              | US        |      9504 | NS      | $1398323.52   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| S&T Bancorp Inc                | S&T Bancorp Inc                          | CUSIP: 783859101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13732 | NS      | $503415.12    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| SEI Investments Co             | SEI Investments Co                       | CUSIP: 784117103<br>LEI: 5LJTIFADGZ6XH1RVOC11 | Long             | EC               | CORP              | US        |     36154 | NS      | $3082490.04   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT Inc     | Sabra Health Care REIT Inc               | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |     41116 | NS      | $718707.68    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Safety Insurance Group Inc     | Safety Insurance Group Inc               | CUSIP: 78648T100<br>LEI: 254900LDCFLA3J746840 | Long             | EC               | CORP              | US        |      5821 | NS      | $478136.94    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanmina Corp                   | Sanmina Corp                             | CUSIP: 801056102<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | EC               | CORP              | US        |      5640 | NS      | $477651.60    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensient Technologies Corp     | Sensient Technologies Corp               | CUSIP: 81725T100<br>LEI: CMMZHMFZQG86EI7WZU92 | Long             | EC               | CORP              | US        |     10061 | NS      | $951066.33    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| LivaNova PLC                   | LivaNova PLC                             | CUSIP: N/A<br>LEI: 2138001K2FX6SHK2B339       | Long             | EC               | CORP              | GB        |     11923 | NS      | $515669.75    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| International Seaways Inc      | International Seaways Inc                | CUSIP: N/A<br>LEI: 549300YUFDGFRNGBWF46       | Long             | EC               | CORP              | US        |     12922 | NS      | $478760.10    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Post Holdings Inc              | Post Holdings Inc                        | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |     24007 | NS      | $2654934.13   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations Inc         | Power Integrations Inc                   | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |      8801 | NS      | $437673.73    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Prestige Consumer Healthcare I | Prestige Consumer Healthcare Inc         | CUSIP: 74112D101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6695 | NS      | $573560.65    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PROG Holdings Inc              | PROG Holdings Inc                        | CUSIP: 74319R101<br>LEI: 549300DHYTLBOVRXIG52 | Long             | EC               | CORP              | US        |     16469 | NS      | $474801.27    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                       | Fabrinet                                 | CUSIP: N/A<br>LEI: 5493004TETZ6IYF7CV44       | Long             | EC               | CORP              | TH        |      7498 | NS      | $1746059.26   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ADMA Biologics Inc             | ADMA Biologics Inc                       | CUSIP: 000899104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33758 | NS      | $669758.72    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Adeia Inc                      | Adeia Inc                                | CUSIP: 00676P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35453 | NS      | $455216.52    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Asbury Automotive Group Inc    | Asbury Automotive Group Inc              | CUSIP: 043436104<br>LEI: 549300JH4DTA7U42GL91 | Long             | EC               | CORP              | US        |      2001 | NS      | $456047.91    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Astec Industries Inc           | Astec Industries Inc                     | CUSIP: 046224101<br>LEI: 5493002DO2QKHLKB2A48 | Long             | EC               | CORP              | US        |     11566 | NS      | $454428.14    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Autoliv Inc                    | Autoliv Inc                              | CUSIP: 052800109<br>LEI: A23RUXWKASG834LTMK28 | Long             | EC               | CORP              | SE        |     13555 | NS      | $1393725.10   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoNation Inc                 | AutoNation Inc                           | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12077 | NS      | $2220356.45   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Cabot Corp                     | Cabot Corp                               | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Long             | EC               | CORP              | US        |      7080 | NS      | $528805.20    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Cal-Maine Foods Inc            | Cal-Maine Foods Inc                      | CUSIP: 128030202<br>LEI: 549300NHE5WMIEIEMF53 | Long             | EC               | CORP              | US        |     22119 | NS      | $2121875.67   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| California Resources Corp      | California Resources Corp                | CUSIP: 13057Q305<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | EC               | CORP              | US        |     12547 | NS      | $554200.99    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CareTrust REIT Inc             | CareTrust REIT Inc                       | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               | CORP              | US        |     52236 | NS      | $1502307.36   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc         | Cousins Properties Inc                   | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |     21341 | NS      | $599041.87    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane Co                       | Crane Co                                 | CUSIP: 224408104<br>LEI: 5493000CQRQOTHUODL75 | Long             | EC               | CORP              | US        |     11704 | NS      | $2006065.60   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Crocs Inc                      | Crocs Inc                                | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |      8925 | NS      | $910350.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Adtalem Global Education Inc   | Adtalem Global Education Inc             | CUSIP: 00737L103<br>LEI: 549300Z467EZLMODV621 | Long             | EC               | CORP              | US        |     10051 | NS      | $1327033.53   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Affiliated Managers Group Inc  | Affiliated Managers Group Inc            | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |      5033 | NS      | $885808.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Holdings Inc             | Crown Holdings Inc                       | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |     42637 | NS      | $4199744.50   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp          | Encompass Health Corp                    | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     47619 | NS      | $5757137.10   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamo Group Inc                | Alamo Group Inc                          | CUSIP: 011311107<br>LEI: 54930080C93RVZRSDV26 | Long             | EC               | CORP              | US        |      2586 | NS      | $512131.44    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Alarm.com Holdings Inc         | Alarm.com Holdings Inc                   | CUSIP: 011642105<br>LEI: 549300HIH92U1EKIHZ32 | Long             | EC               | CORP              | US        |      8164 | NS      | $468613.60    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Alaska Air Group Inc           | Alaska Air Group Inc                     | CUSIP: 011659109<br>LEI: 529900G48RT4KWLC6C27 | Long             | EC               | CORP              | US        |     19115 | NS      | $973526.95    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Albany International Corp      | Albany International Corp                | CUSIP: 012348108<br>LEI: L73WCPNCZIRSQGZTW097 | Long             | EC               | CORP              | US        |      7053 | NS      | $465991.71    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Albertsons Cos Inc             | Albertsons Cos Inc                       | CUSIP: 013091103<br>LEI: 549300YKWOC0AOR16R51 | Long             | EC               | CORP              | US        |    246310 | NS      | $5475471.30   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexander & Baldwin Inc        | Alexander & Baldwin Inc                  | CUSIP: 014491104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25321 | NS      | $453499.11    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent          | American Homes 4 Rent                    | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |     60196 | NS      | $2278418.60   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| American States Water Co       | American States Water Co                 | CUSIP: 029899101<br>LEI: 529900L26LIS2V8PWM23 | Long             | EC               | CORP              | US        |      6756 | NS      | $532845.72    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| EnerSys                        | EnerSys                                  | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |      9087 | NS      | $759945.81    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Enova International Inc        | Enova International Inc                  | CUSIP: 29357K103<br>LEI: 549300O8XOCQSB49UO63 | Long             | EC               | CORP              | US        |     12786 | NS      | $1184878.62   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameris Bancorp                 | Ameris Bancorp                           | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |     21532 | NS      | $1323572.04   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Amkor Technology Inc           | Amkor Technology Inc                     | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |     24564 | NS      | $442643.28    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ensign Group Inc/The           | Ensign Group Inc/The                     | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |      3418 | NS      | $503334.68    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT Inc                        | ITT Inc                                  | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |     17677 | NS      | $2661095.58   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Inc         | Jones Lang LaSalle Inc                   | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |     12176 | NS      | $2711595.20   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC Investment Corp           | MGIC Investment Corp                     | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |    111038 | NS      | $2936955.10   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Resources Corp          | Antero Resources Corp                    | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |     54655 | NS      | $2046829.75   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Midstream Corp          | Antero Midstream Corp                    | CUSIP: 03676B102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    184706 | NS      | $3468778.68   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologie | Applied Industrial Technologies Inc      | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |      8013 | NS      | $1815104.76   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| AptarGroup Inc                 | AptarGroup Inc                           | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |      7280 | NS      | $1153152.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc                        | MKS Inc                                  | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |      5928 | NS      | $487222.32    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Merit Medical Systems Inc      | Merit Medical Systems Inc                | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |      4695 | NS      | $446165.85    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Meritage Homes Corp            | Meritage Homes Corp                      | CUSIP: 59001A102<br>LEI: 52990044W9UMFJO2FB97 | Long             | EC               | CORP              | US        |      6514 | NS      | $414355.54    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies Inc           | SPX Technologies Inc                     | CUSIP: 78473E103<br>LEI: P761FCI0CPOG24I8JE10 | Long             | EC               | CORP              | US        |      9710 | NS      | $1476793.90   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| St Joe Co/The                  | St Joe Co/The                            | CUSIP: 790148100<br>LEI: 529900XVHOT3BF8PWG49 | Long             | EC               | CORP              | US        |     10125 | NS      | $452688.75    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial Inc            | STAG Industrial Inc                      | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |     23738 | NS      | $844598.04    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Motor Products Inc    | Standard Motor Products Inc              | CUSIP: 853666105<br>LEI: THGK1EO5B5HK0JHQVZ90 | Long             | EC               | CORP              | US        |     15892 | NS      | $481527.60    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI Corp                       | UGI Corp                                 | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |     13379 | NS      | $482446.74    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| UniFirst Corp/MA               | UniFirst Corp/MA                         | CUSIP: 904708104<br>LEI: 5493003XBTNWBC8UK019 | Long             | EC               | CORP              | US        |      7306 | NS      | $1377619.36   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| United Fire Group Inc          | United Fire Group Inc                    | CUSIP: 910340108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15854 | NS      | $451046.30    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| United Natural Foods Inc       | United Natural Foods Inc                 | CUSIP: 911163103<br>LEI: 549300GKGW6WPZ282D40 | Long             | EC               | CORP              | US        |     16130 | NS      | $493094.10    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Yelp Inc                       | Yelp Inc                                 | CUSIP: 985817105<br>LEI: 5299007OU2DOSXPQBO35 | Long             | EC               | CORP              | US        |     13363 | NS      | $510065.71    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Zions Bancorp NA               | Zions Bancorp NA                         | CUSIP: 989701107<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | EC               | CORP              | US        |     62721 | NS      | $2970466.56   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus Henderson Group PLC      | Janus Henderson Group PLC                | CUSIP: N/A<br>LEI: 2138009WPYMWJN3RVF44       | Long             | EC               | CORP              | GB        |     58318 | NS      | $2118692.94   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC       | Jazz Pharmaceuticals PLC                 | CUSIP: N/A<br>LEI: 635400GAUMJCLEZRRV50       | Long             | EC               | CORP              | IE        |     27883 | NS      | $3013315.81   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Archrock Inc                   | Archrock Inc                             | CUSIP: 03957W106<br>LEI: 549300K3RIHMHDVFTL28 | Long             | EC               | CORP              | US        |     52384 | NS      | $1304361.60   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Armstrong World Industries Inc | Armstrong World Industries Inc           | CUSIP: 04247X102<br>LEI: KXMRXXOJ88Q45Y45MG74 | Long             | EC               | CORP              | US        |     17484 | NS      | $2721034.92   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corp                    | Avista Corp                              | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |     33485 | NS      | $1289507.35   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Axos Financial Inc             | Axos Financial Inc                       | CUSIP: 05465C100<br>LEI: 529900D8M56422GK9O25 | Long             | EC               | CORP              | US        |     24899 | NS      | $1731476.46   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Badger Meter Inc               | Badger Meter Inc                         | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |      4193 | NS      | $1040786.46   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Balchem Corp                   | Balchem Corp                             | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |     10168 | NS      | $1695005.60   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| BancFirst Corp                 | BancFirst Corp                           | CUSIP: 05945F103<br>LEI: 549300EJEHGBP4IO2J30 | Long             | EC               | CORP              | US        |      5927 | NS      | $733199.54    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| BankUnited Inc                 | BankUnited Inc                           | CUSIP: 06652K103<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | EC               | CORP              | US        |     31922 | NS      | $1084709.56   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Banner Corp                    | Banner Corp                              | CUSIP: 06652V208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9929 | NS      | $612122.85    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Bath & Body Works Inc          | Bath & Body Works Inc                    | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |     80832 | NS      | $2272995.84   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| BellRing Brands Inc            | BellRing Brands Inc                      | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |     51572 | NS      | $3246457.40   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| BGC Group Inc                  | BGC Group Inc                            | CUSIP: 088929104<br>LEI: 2549001IGRCG4F0RLD36 | Long             | EC               | CORP              | US        |    164288 | NS      | $1524592.64   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| BioMarin Pharmaceutical Inc    | BioMarin Pharmaceutical Inc              | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |     20592 | NS      | $1195777.44   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corp               | Black Hills Corp                         | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |     18377 | NS      | $1074503.19   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| BorgWarner Inc                 | BorgWarner Inc                           | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |     30815 | NS      | $1019668.35   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Boyd Gaming Corp               | Boyd Gaming Corp                         | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |     28922 | NS      | $2168282.34   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Brady Corp                     | Brady Corp                               | CUSIP: 104674106<br>LEI: 549300G2LEQOFQC8GY34 | Long             | EC               | CORP              | US        |     20246 | NS      | $1412563.42   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Brinker International Inc      | Brinker International Inc                | CUSIP: 109641100<br>LEI: 52990067JY6PBGJNTG76 | Long             | EC               | CORP              | US        |     20177 | NS      | $3483155.51   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc     | Brixmor Property Group Inc               | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |    105878 | NS      | $2690359.98   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Buckle Inc/The                 | Buckle Inc/The                           | CUSIP: 118440106<br>LEI: 5299007IU0461T3GDL34 | Long             | EC               | CORP              | US        |     12460 | NS      | $530920.60    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Upbound Group Inc              | Upbound Group Inc                        | CUSIP: 76009N100<br>LEI: 529900QUHE15UQNCCJ63 | Long             | EC               | CORP              | US        |     18509 | NS      | $424596.46    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Silgan Holdings Inc            | Silgan Holdings Inc                      | CUSIP: 827048109<br>LEI: KAF673KJXD92C8KSLU49 | Long             | EC               | CORP              | US        |     21761 | NS      | $1198378.27   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Simply Good Foods Co/The       | Simply Good Foods Co/The                 | CUSIP: 82900L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17943 | NS      | $619212.93    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| SkyWest Inc                    | SkyWest Inc                              | CUSIP: 830879102<br>LEI: 529900UYS2KGS6Z42P09 | Long             | EC               | CORP              | US        |     16447 | NS      | $1668548.15   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonic Automotive Inc           | Sonic Automotive Inc                     | CUSIP: 83545G102<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | EC               | CORP              | US        |      7188 | NS      | $502656.84    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| SpartanNash Co                 | SpartanNash Co                           | CUSIP: 847215100<br>LEI: 549300TV3QCCSQLF5X16 | Long             | EC               | CORP              | US        |     22562 | NS      | $439056.52    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Spire Inc                      | Spire Inc                                | CUSIP: 84857L101<br>LEI: 549300NXSY15DRY2R511 | Long             | EC               | CORP              | US        |      9517 | NS      | $716439.76    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprouts Farmers Market Inc     | Sprouts Farmers Market Inc               | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |     38399 | NS      | $6637651.14   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Strategic Education Inc        | Strategic Education Inc                  | CUSIP: 86272C103<br>LEI: 2549002UYIM8Q5EC8H36 | Long             | EC               | CORP              | US        |      5289 | NS      | $482515.47    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Stride Inc                     | Stride Inc                               | CUSIP: 86333M108<br>LEI: 254900BRWS3AFONWU277 | Long             | EC               | CORP              | US        |      4001 | NS      | $605711.39    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Sturm Ruger & Co Inc           | Sturm Ruger & Co Inc                     | CUSIP: 864159108<br>LEI: 529900DV1BWFJSHFO847 | Long             | EC               | CORP              | US        |     12843 | NS      | $464916.60    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Country Airlines Holdings  | Sun Country Airlines Holdings Inc        | CUSIP: 866683105<br>LEI: 549300MOHOJN9GH0NJ48 | Long             | EC               | CORP              | US        |     41649 | NS      | $482295.42    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO Financial Group Inc        | CNO Financial Group Inc                  | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |     42239 | NS      | $1603392.44   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| CSG Systems International Inc  | CSG Systems International Inc            | CUSIP: 126349109<br>LEI: 549300D7FJZUOHHXUA81 | Long             | EC               | CORP              | US        |     10530 | NS      | $695611.80    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CTS Corp                       | CTS Corp                                 | CUSIP: 126501105<br>LEI: 549300YV1HQLBVHOI649 | Long             | EC               | CORP              | US        |     11373 | NS      | $462767.37    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Cargurus Inc                   | Cargurus Inc                             | CUSIP: 141788109<br>LEI: 54930027BKQN6B7X7G78 | Long             | EC               | CORP              | US        |     15643 | NS      | $490251.62    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| SunCoke Energy Inc             | SunCoke Energy Inc                       | CUSIP: 86722A103<br>LEI: 1KF1J2NXQE2PI0QOB943 | Long             | EC               | CORP              | US        |     49186 | NS      | $400374.04    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Supernus Pharmaceuticals Inc   | Supernus Pharmaceuticals Inc             | CUSIP: 868459108<br>LEI: 549300GRM36VBKISYJ58 | Long             | EC               | CORP              | US        |     13498 | NS      | $427886.60    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| H&R Block Inc                  | H&R Block Inc                            | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |     37125 | NS      | $2114268.75   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Equitable Holdings Inc         | Equitable Holdings Inc                   | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |    150419 | NS      | $7952652.53   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Sylvamo Corp                   | Sylvamo Corp                             | CUSIP: 871332102<br>LEI: 5493001AOYU1ZOWOC971 | Long             | EC               | CORP              | US        |      8323 | NS      | $440869.31    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Tri Pointe Homes Inc           | Tri Pointe Homes Inc                     | CUSIP: 87265H109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38931 | NS      | $1147685.88   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| TTM Technologies Inc           | TTM Technologies Inc                     | CUSIP: 87305R109<br>LEI: 549300SC4BDOIS008048 | Long             | EC               | CORP              | US        |     18403 | NS      | $549513.58    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp      | Taylor Morrison Home Corp                | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |     36703 | NS      | $2065644.84   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| TEGNA Inc                      | TEGNA Inc                                | CUSIP: 87901J105<br>LEI: 549300YC5EDBGX85AO10 | Long             | EC               | CORP              | US        |     62288 | NS      | $1041455.36   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Teleflex Inc                   | Teleflex Inc                             | CUSIP: 879369106<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | EC               | CORP              | US        |      3499 | NS      | $427822.73    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Telephone and Data Systems Inc | Telephone and Data Systems Inc           | CUSIP: 879433829<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12662 | NS      | $435066.32    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp          | Tenet Healthcare Corp                    | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |     40108 | NS      | $6769027.16   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Cars.com Inc                   | Cars.com Inc                             | CUSIP: 14575E105<br>LEI: 5493002G6J07LNGX4M98 | Long             | EC               | CORP              | US        |     37366 | NS      | $383001.50    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Pharmaceuticals Inc   | Catalyst Pharmaceuticals Inc             | CUSIP: 14888U101<br>LEI: 5299004O0R5XXLA5H544 | Long             | EC               | CORP              | US        |     47855 | NS      | $1194460.80   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay General Bancorp         | Cathay General Bancorp                   | CUSIP: 149150104<br>LEI: 549300K1SLJ8C97H5L68 | Long             | EC               | CORP              | US        |     13118 | NS      | $562171.89    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Cavco Industries Inc           | Cavco Industries Inc                     | CUSIP: 149568107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1755 | NS      | $760959.23    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Garden & Pet Co        | Central Garden & Pet Co                  | CUSIP: 153527205<br>LEI: 5493004DVZLD37DJ0H83 | Long             | EC               | CORP              | US        |     25357 | NS      | $810663.29    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Pacific Financial Corp | Central Pacific Financial Corp           | CUSIP: 154760409<br>LEI: 549300W3YEAOZ4KGG849 | Long             | EC               | CORP              | US        |     17013 | NS      | $454247.10    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties In | Equity LifeStyle Properties Inc          | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     66170 | NS      | $4206426.90   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| ESCO Technologies Inc          | ESCO Technologies Inc                    | CUSIP: 296315104<br>LEI: 5493007JJLP5MEWVDH10 | Long             | EC               | CORP              | US        |      7472 | NS      | $1354225.28   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc            | Texas Roadhouse Inc                      | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |     19245 | NS      | $3756816.45   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers Inc              | Toll Brothers Inc                        | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |     14822 | NS      | $1545193.50   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Tompkins Financial Corp        | Tompkins Financial Corp                  | CUSIP: 890110109<br>LEI: 254900QDQ6V0QJ0Z2348 | Long             | EC               | CORP              | US        |      7274 | NS      | $446623.60    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Toro Co/The                    | Toro Co/The                              | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | EC               | CORP              | US        |     15038 | NS      | $1139579.64   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| TrustCo Bank Corp NY           | TrustCo Bank Corp NY                     | CUSIP: 898349204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14343 | NS      | $445206.72    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| USANA Health Sciences Inc      | USANA Health Sciences Inc                | CUSIP: 90328M107<br>LEI: 549300YTURXE814MAH96 | Long             | EC               | CORP              | US        |     15571 | NS      | $465105.77    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemed Corp                    | Chemed Corp                              | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |      5731 | NS      | $3294408.04   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Chesapeake Utilities Corp      | Chesapeake Utilities Corp                | CUSIP: 165303108<br>LEI: 254900WW0FDCKAOCKE74 | Long             | EC               | CORP              | US        |      4213 | NS      | $514786.47    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Chewy Inc                      | Chewy Inc                                | CUSIP: 16679L109<br>LEI: 254900NPQSTG9I422879 | Long             | EC               | CORP              | US        |    145921 | NS      | $6602925.25   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Cirrus Logic Inc               | Cirrus Logic Inc                         | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |     15927 | NS      | $1566579.72   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Clear Secure Inc               | Clear Secure Inc                         | CUSIP: 18467V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17999 | NS      | $445475.25    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA Inc        | Comfort Systems USA Inc                  | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |      8419 | NS      | $4026218.37   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Commerce Bancshares Inc/MO     | Commerce Bancshares Inc/MO               | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38177 | NS      | $2405532.77   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| CoreCivic Inc                  | CoreCivic Inc                            | CUSIP: 21871N101<br>LEI: 529900JFA3K6PTLT8B15 | Long             | EC               | CORP              | US        |     42382 | NS      | $930708.72    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| COPT Defense Properties        | COPT Defense Properties                  | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               | CORP              | US        |     28988 | NS      | $795720.60    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CorVel Corp                    | CorVel Corp                              | CUSIP: 221006109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9917 | NS      | $1103464.59   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp            | Curtiss-Wright Corp                      | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |     13530 | NS      | $5954688.30   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream Inc               | DT Midstream Inc                         | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32132 | NS      | $3365505.68   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Tr | Essential Properties Realty Trust Inc    | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |     24838 | NS      | $807235.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Ethan Allen Interiors Inc      | Ethan Allen Interiors Inc                | CUSIP: 297602104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15294 | NS      | $399632.22    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronet Worldwide Inc          | Euronet Worldwide Inc                    | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |     13989 | NS      | $1514728.92   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERTEC Inc                    | EVERTEC Inc                              | CUSIP: 30040P103<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |     24434 | NS      | $885243.82    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis Inc                   | Exelixis Inc                             | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |     96344 | NS      | $4146645.76   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| ExlService Holdings Inc        | ExlService Holdings Inc                  | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |     54089 | NS      | $2487553.11   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Treasury Obliga | First American Treasury Obligations Fund | CUSIP: 31846V328<br>LEI: 549300UU586IAH2B8H03 | Long             | STIV             | RF                | US        |   1508445 | NS      | $1508445.03   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| First BanCorp/Puerto Rico      | First BanCorp/Puerto Rico                | CUSIP: 318672706<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |     70180 | NS      | $1402196.40   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp       | United Therapeutics Corp                 | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |     16744 | NS      | $5338824.40   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Corp/VA              | Universal Corp/VA                        | CUSIP: 913456109<br>LEI: 549300BZXZ66F6DTIF20 | Long             | EC               | CORP              | US        |      7928 | NS      | $518411.92    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Display Corp         | Universal Display Corp                   | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3098 | NS      | $444098.30    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Realty Income | Universal Health Realty Income Trust     | CUSIP: 91359E105<br>LEI: 549300L4MWZL4IH6H172 | Long             | EC               | CORP              | US        |     11420 | NS      | $453488.20    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Dolby Laboratories Inc         | Dolby Laboratories Inc                   | CUSIP: 25659T107<br>LEI: 549300X04FB2QPCJ5J24 | Long             | EC               | CORP              | US        |     17603 | NS      | $1307198.78   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Donaldson Co Inc               | Donaldson Co Inc                         | CUSIP: 257651109<br>LEI: OZE6KXY9QQPR8EJ8WL20 | Long             | EC               | CORP              | US        |     10730 | NS      | $746271.50    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorman Products Inc            | Dorman Products Inc                      | CUSIP: 258278100<br>LEI: 2549000O0BBUX740XR59 | Long             | EC               | CORP              | US        |      6900 | NS      | $892239.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| DoubleVerify Holdings Inc      | DoubleVerify Holdings Inc                | CUSIP: 25862V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32837 | NS      | $451180.38    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bancorp        | First Financial Bancorp                  | CUSIP: 320209109<br>LEI: 549300D3F5B3EZMY7P77 | Long             | EC               | CORP              | US        |     30306 | NS      | $732192.96    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corp             | First Horizon Corp                       | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |    184413 | NS      | $3666130.44   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust  | First Industrial Realty Trust Inc        | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42929 | NS      | $2121980.47   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstCash Holdings Inc         | FirstCash Holdings Inc                   | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21869 | NS      | $2797263.79   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| FormFactor Inc                 | FormFactor Inc                           | CUSIP: 346375108<br>LEI: 549300YCEEO6SZD1ZR61 | Long             | EC               | CORP              | US        |     15076 | NS      | $450018.60    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Electric Co Inc       | Franklin Electric Co Inc                 | CUSIP: 353514102<br>LEI: RR6AURIKMXUE4Q24G284 | Long             | EC               | CORP              | US        |      5281 | NS      | $456225.59    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                     | Unum Group                               | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |     87615 | NS      | $7159021.65   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Outfitters Inc           | Urban Outfitters Inc                     | CUSIP: 917047102<br>LEI: 549300N3DUFR5U6NRN38 | Long             | EC               | CORP              | US        |     32007 | NS      | $2237289.30   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Edge Properties          | Urban Edge Properties                    | CUSIP: 91704F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29160 | NS      | $529545.60    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries Inc         | Valmont Industries Inc                   | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |      8751 | NS      | $2783168.04   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Veritex Holdings Inc           | Veritex Holdings Inc                     | CUSIP: 923451108<br>LEI: 549300F3SMOML02SC814 | Long             | EC               | CORP              | US        |     18760 | NS      | $453992.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Viper Energy Inc               | Viper Energy Inc                         | CUSIP: 927959106<br>LEI: 5299009LINL232255G03 | Long             | EC               | CORP              | US        |     10673 | NS      | $423611.37    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtu Financial Inc            | Virtu Financial Inc                      | CUSIP: 928254101<br>LEI: 5493001OPW2K42CH3884 | Long             | EC               | CORP              | US        |     39455 | NS      | $1585696.45   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corp                   | Visteon Corp                             | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |      7144 | NS      | $603132.20    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontdoor Inc                  | Frontdoor Inc                            | CUSIP: 35905A109<br>LEI: 5493008RB0JZJI3QGZ06 | Long             | EC               | CORP              | US        |     19559 | NS      | $1075940.59   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Fulton Financial Corp          | Fulton Financial Corp                    | CUSIP: 360271100<br>LEI: 5493005QLZ6O1BNC0C11 | Long             | EC               | CORP              | US        |     71033 | NS      | $1225319.25   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| G-III Apparel Group Ltd        | G-III Apparel Group Ltd                  | CUSIP: 36237H101<br>LEI: 529900O5KABM3R3SFM87 | Long             | EC               | CORP              | US        |     17363 | NS      | $504395.15    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Gap Inc/The                    | Gap Inc/The                              | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |    110440 | NS      | $2463916.40   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Genworth Financial Inc         | Genworth Financial Inc                   | CUSIP: 37247D106<br>LEI: 549300EMCG286BDNKJ33 | Long             | EC               | CORP              | US        |    180328 | NS      | $1271312.40   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Gibraltar Industries Inc       | Gibraltar Industries Inc                 | CUSIP: 374689107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7865 | NS      | $460731.70    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Globus Medical Inc             | Globus Medical Inc                       | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |      6160 | NS      | $364548.80    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Graco Inc                      | Graco Inc                                | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |     43758 | NS      | $3704552.28   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Griffon Corp                   | Griffon Corp                             | CUSIP: 398433102<br>LEI: 5493000C2SGNC7ZN3242 | Long             | EC               | CORP              | US        |     12955 | NS      | $890656.25    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc      | Halozyme Therapeutics Inc                | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |     27728 | NS      | $1554708.96   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Hancock Whitney Corp           | Hancock Whitney Corp                     | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |     31455 | NS      | $1719644.85   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanmi Financial Corp           | Hanmi Financial Corp                     | CUSIP: 410495204<br>LEI: 549300MSZ7RCG7EA6587 | Long             | EC               | CORP              | US        |     18987 | NS      | $435182.04    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanover Insurance Group Inc/Th | Hanover Insurance Group Inc/The          | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |     13497 | NS      | $2375202.06   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmonic Inc                   | Harmonic Inc                             | CUSIP: 413160102<br>LEI: 549300LRGRD8XC9BTL66 | Long             | EC               | CORP              | US        |     49022 | NS      | $442178.44    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmony Biosciences Holdings I | Harmony Biosciences Holdings Inc         | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14810 | NS      | $510945.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Services Group Inc  | Healthcare Services Group Inc            | CUSIP: 421906108<br>LEI: 529900GVZ1D2FBYMS719 | Long             | EC               | CORP              | US        |     30457 | NS      | $429443.70    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthStream Inc               | HealthStream Inc                         | CUSIP: 42222N103<br>LEI: 529900OJ88H8635JNH64 | Long             | EC               | CORP              | US        |     13030 | NS      | $365100.60    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Essent Group Ltd               | Essent Group Ltd                         | CUSIP: N/A<br>LEI: 254900QUO860OUT6ZF83       | Long             | EC               | CORP              | US        |     47706 | NS      | $2766948.00   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresh Del Monte Produce Inc    | Fresh Del Monte Produce Inc              | CUSIP: N/A<br>LEI: 529900I72V9F0FEZR228       | Long             | EC               | CORP              | US        |     14704 | NS      | $519345.28    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Genpact Ltd                    | Genpact Ltd                              | CUSIP: N/A<br>LEI: 529900OSEC6Q0L4L5B35       | Long             | EC               | CORP              | US        |     66086 | NS      | $2845002.30   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Flex Ltd                       | Flex Ltd                                 | CUSIP: N/A<br>LEI: 549300EAQH74YHD07T53       | Long             | EC               | CORP              | US        |    126449 | NS      | $5348792.70   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Dropbox Inc                    | Dropbox Inc                              | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |     50020 | NS      | $1443577.20   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Duolingo Inc                   | Duolingo Inc                             | CUSIP: 26603R106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2950 | NS      | $1532849.50   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Doximity Inc                   | Doximity Inc                             | CUSIP: 26622P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24609 | NS      | $1281882.81   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries Inc           | Dycom Industries Inc                     | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |      5252 | NS      | $1207539.84   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Vontier Corp                   | Vontier Corp                             | CUSIP: 928881101<br>LEI: 549300VVSQLG4P5K4639 | Long             | EC               | CORP              | US        |     35096 | NS      | $1254682.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Watts Water Technologies Inc   | Watts Water Technologies Inc             | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |     10224 | NS      | $2475434.88   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp         | Webster Financial Corp                   | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |     39885 | NS      | $2053279.80   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Westamerica BanCorp            | Westamerica BanCorp                      | CUSIP: 957090103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9066 | NS      | $435621.30    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynatrace Inc                  | Dynatrace Inc                            | CUSIP: 268150109<br>LEI: 6488T0Z33CE9L61EX904 | Long             | EC               | CORP              | US        |     24289 | NS      | $1311848.89   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc       | EastGroup Properties Inc                 | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |      9515 | NS      | $1613268.25   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Element Solutions Inc          | Element Solutions Inc                    | CUSIP: 28618M106<br>LEI: 549300FLGN6P5CU20J91 | Long             | EC               | CORP              | US        |     21152 | NS      | $452229.76    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group Inc                | EMCOR Group Inc                          | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |     14265 | NS      | $6731082.90   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| DNOW Inc                       | DNOW Inc                                 | CUSIP: 67011P100<br>LEI: 549300AVH5SOCFVVDW91 | Long             | EC               | CORP              | US        |     37814 | NS      | $545277.88    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Chord Energy Corp              | Chord Energy Corp                        | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |      6523 | NS      | $587070.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Elme Communities               | Elme Communities                         | CUSIP: 939653101<br>LEI: 549300DI34BGS8LVKW95 | Long             | EC               | CORP              | US        |     27853 | NS      | $447319.18    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkermes PLC                   | Alkermes PLC                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IE        |     41071 | NS      | $1257183.31   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Axalta Coating Systems Ltd     | Axalta Coating Systems Ltd               | CUSIP: N/A<br>LEI: 529900AGLPA40GV6H619       | Long             | EC               | CORP              | US        |     72235 | NS      | $2224838.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorian LPG Ltd                 | Dorian LPG Ltd                           | CUSIP: N/A<br>LEI: 549300WP1W2WGMC7F395       | Long             | EC               | CORP              | US        |     20459 | NS      | $438027.19    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Whitestone REIT                | Whitestone REIT                          | CUSIP: 966084204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35086 | NS      | $432259.52    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| A10 Networks Inc               | A10 Networks Inc                         | CUSIP: 002121101<br>LEI: 549300UQD4IWUML81Q35 | Long             | EC               | CORP              | US        |     27534 | NS      | $475236.84    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Abercrombie & Fitch Co         | Abercrombie & Fitch Co                   | CUSIP: 002896207<br>LEI: 5493000J7LL72TOGT983 | Long             | EC               | CORP              | US        |      6301 | NS      | $494565.49    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ACADIA Pharmaceuticals Inc     | ACADIA Pharmaceuticals Inc               | CUSIP: 004225108<br>LEI: 529900O3044NO0PEA039 | Long             | EC               | CORP              | US        |     30013 | NS      | $647380.41    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ACI Worldwide Inc              | ACI Worldwide Inc                        | CUSIP: 004498101<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | EC               | CORP              | US        |     43128 | NS      | $1995101.28   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Acuity Inc                     | Acuity Inc                               | CUSIP: 00508Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2840 | NS      | $738087.60    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Addus HomeCare Corp            | Addus HomeCare Corp                      | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |      4215 | NS      | $467485.65    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadian Asset Management Inc   | Acadian Asset Management Inc             | CUSIP: 10948W103<br>LEI: 5493004FTLQNQTBOP608 | Long             | EC               | CORP              | US        |     15791 | NS      | $475467.01    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Pediatrix Medical Group Inc    | Pediatrix Medical Group Inc              | CUSIP: 58502B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34446 | NS      | $487410.90    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Pathward Financial Inc         | Pathward Financial Inc                   | CUSIP: 59100U108<br>LEI: 5493004X52BH1NBLW813 | Long             | EC               | CORP              | US        |      9714 | NS      | $758177.70    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| NMI Holdings Inc               | NMI Holdings Inc                         | CUSIP: 629209305<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | EC               | CORP              | US        |     33498 | NS      | $1330540.56   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| National HealthCare Corp       | National HealthCare Corp                 | CUSIP: 635906100<br>LEI: 254900PTS11LS1JS2752 | Long             | EC               | CORP              | US        |      4703 | NS      | $489770.42    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| National Presto Industries Inc | National Presto Industries Inc           | CUSIP: 637215104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5147 | NS      | $440840.55    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT Inc                   | NNN REIT Inc                             | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |     44970 | NS      | $1877947.20   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| NetScout Systems Inc           | NetScout Systems Inc                     | CUSIP: 64115T104<br>LEI: 5493005HZXZ3SPNVCV76 | Long             | EC               | CORP              | US        |     20823 | NS      | $475597.32    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc     | Neurocrine Biosciences Inc               | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |      9354 | NS      | $1150729.08   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| New Jersey Resources Corp      | New Jersey Resources Corp                | CUSIP: 646025106<br>LEI: 549300QKBSQBIX4DQ583 | Long             | EC               | CORP              | US        |     27424 | NS      | $1258487.36   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Times Co/The          | New York Times Co/The                    | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |     45529 | NS      | $2600616.48   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| NewMarket Corp                 | NewMarket Corp                           | CUSIP: 651587107<br>LEI: 54930082CG88ERDREQ47 | Long             | EC               | CORP              | US        |      4261 | NS      | $2744339.66   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTracker Inc                 | NEXTracker Inc                           | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28856 | NS      | $1635846.64   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group Inc        | Nexstar Media Group Inc                  | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |      9672 | NS      | $1648302.24   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Energy Group Inc  | Northwestern Energy Group Inc            | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |     22103 | NS      | $1222958.99   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc | Omega Healthcare Investors Inc           | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |     99263 | NS      | $3672731.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation Inc            | Onto Innovation Inc                      | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |      3503 | NS      | $322065.82    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Option Care Health Inc         | Option Care Health Inc                   | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |     63312 | NS      | $2069036.16   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv Inc                    | Ovintiv Inc                              | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |     21358 | NS      | $765043.56    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                  | Owens Corning                            | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |     25820 | NS      | $3458589.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| PC Connection Inc              | PC Connection Inc                        | CUSIP: 69318J100<br>LEI: 5299005WPRNIXDV2KM73 | Long             | EC               | CORP              | US        |      6655 | NS      | $435237.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PJT Partners Inc               | PJT Partners Inc                         | CUSIP: 69343T107<br>LEI: 549300W3WBEQUBKYTN87 | Long             | EC               | CORP              | US        |      3287 | NS      | $495219.42    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Paylocity Holding Corp         | Paylocity Holding Corp                   | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |     21723 | NS      | $4146920.70   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Penumbra Inc                   | Penumbra Inc                             | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |      5474 | NS      | $1461393.78   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Perdoceo Education Corp        | Perdoceo Education Corp                  | CUSIP: 71363P106<br>LEI: 529900X5PCA184O9LY90 | Long             | EC               | CORP              | US        |     15252 | NS      | $519178.08    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp         | Permian Resources Corp                   | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |     53934 | NS      | $680107.74    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips Edison & Co Inc       | Phillips Edison & Co Inc                 | CUSIP: 71844V201<br>LEI: 549300JPN4YHYPXTJQ85 | Long             | EC               | CORP              | US        |     14372 | NS      | $509631.12    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Phinia Inc                     | Phinia Inc                               | CUSIP: 71880K101<br>LEI: 254900HG6MORZE1FFM18 | Long             | EC               | CORP              | US        |     10595 | NS      | $459823.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc                 | Photronics Inc                           | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |     23464 | NS      | $392083.44    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Pilgrim's Pride Corp           | Pilgrim's Pride Corp                     | CUSIP: 72147K108<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | EC               | CORP              | US        |    133730 | NS      | $6574166.80   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Piper Sandler Cos              | Piper Sandler Cos                        | CUSIP: 724078100<br>LEI: QUQDBTUSOAKFEVMRMF78 | Long             | EC               | CORP              | US        |      4300 | NS      | $1081235.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Plexus Corp                    | Plexus Corp                              | CUSIP: 729132100<br>LEI: 549300W7HCBI5YT25I79 | Long             | EC               | CORP              | US        |     10008 | NS      | $1313650.08   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Progyny Inc                    | Progyny Inc                              | CUSIP: 74340E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20697 | NS      | $444985.50    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Protagonist Therapeutics Inc   | Protagonist Therapeutics Inc             | CUSIP: 74366E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21657 | NS      | $1028057.79   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Proto Labs Inc                 | Proto Labs Inc                           | CUSIP: 743713109<br>LEI: 529900QHG5MGWT2WQQ09 | Long             | EC               | CORP              | US        |     11625 | NS      | $429892.50    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Provident Financial Services I | Provident Financial Services Inc         | CUSIP: 74386T105<br>LEI: 529900JOSO3SXEDVE477 | Long             | EC               | CORP              | US        |     56819 | NS      | $948877.30    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Qorvo Inc                      | Qorvo Inc                                | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Long             | EC               | CORP              | US        |      6164 | NS      | $468587.28    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus Inc                     | Rambus Inc                               | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |      8828 | NS      | $472033.16    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier Inc                   | Rayonier Inc                             | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |     32937 | NS      | $780606.90    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Inc                   | Reliance Inc                             | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |      9235 | NS      | $2704192.70   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-23

**Name of Applicant:** Horizon Funds

**Signature:** /s/ Matt Chambers

**Name of Signer:** Matt Chambers

**Title:** Chief Compliance Officer