Wellesley Asset Management Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	GBX	105,380	$84,561	6.0%	$911.24	—	46858	393657AM3
—	F	87,958	$81,147	5.8%	$1010.50	—	46096	345370CZ1
—	HALO	89,152	$76,268	5.4%	$890.19	—	46447	40637HAD1
—	VSH	72,058	$67,260	4.8%	$968.54	—	45823	928298AP3
—	AKAM	65,906	$61,922	4.4%	$977.34	—	46631	00971TAL5
—	PCRX	59,781	$59,427	4.2%	$1068.11	—	45870	695127AF7
—	GES	60,219	$57,156	4.1%	$994.74	—	45397	401617AD7
—	PETQ	67,308	$55,930	4.0%	$1164.21	—	46174	71639TAB2
—	CAKE	67,712	$54,023	3.8%	$947.88	—	46188	163072AA9
—	BMRN	52,002	$52,121	3.7%	$1010.88	—	46522	09061GAK7
—	LRN	49,276	$49,968	3.5%	$992.92	—	46631	86333MAA6
—	JBLU	65,909	$48,415	3.4%	$747.90	—	46113	477143AP6
—	SAVE	55,341	$47,627	3.4%	$938.39	—	46157	848577AB8
—	JAZZ	48,314	$46,006	3.3%	$1017.26	—	45519	472145AD3
—	CHGG	50,458	$44,579	3.2%	$888.41	—	45731	163092AD1
—	TRIP	53,042	$43,615	3.1%	$783.92	—	46113	896945AD4
—	HAE	51,270	$41,719	3.0%	$855.51	—	46082	405024AB6
—	IMAX	40,958	$34,719	2.5%	$887.26	—	46113	45245EAJ8
—	IDCC	35,571	$33,581	2.4%	$970.45	—	45444	45867GAB7
—	PSN	32,235	$33,281	2.4%	$1005.00	—	45884	70202LAB8
—	EB	34,428	$31,427	2.2%	$1056.36	—	54497	298736AL3
—	KAMN	33,019	$31,417	2.2%	$1023.73	—	45413	483548AF0
—	NUVA	35,133	$30,813	2.2%	$1006.43	—	45731	670704AJ4
—	ITRI	38,117	$30,722	2.2%	$867.47	—	46096	465741AN6
—	LCII	28,118	$24,528	1.7%	$1070.10	—	46157	501812AB7
—	CBRL	24,647	$20,718	1.5%	$840.14	—	46188	22410JAB2
—	MITK	23,962	$20,524	1.5%	$862.65	—	46054	606710AA9
—	CENX	26,086	$17,274	1.2%	$789.79	—	46874	156431AQ1
—	IRWD	15,287	$15,583	1.1%	$1019.36	—	46188	46333XAH1
—	BURL	14,836	$14,275	1.0%	$962.19	—	45762	122017AB2
—	STAR	13,934	$13,116	0.9%	$941.29	—	45153	41068XAD2
—	PAR	13,867	$12,995	0.9%	$932.64	—	46096	55405YAB6
—	IRWD	12,388	$12,458	0.9%	$1005.65	—	45458	46333XAF5
—	WGO	8,293	$8,715	0.6%	$1024.12	—	45748	974637AB6
—	DKNG	12,705	$8,339	0.6%	$718.56	—	46827	26142RAB0
—	ATSG	8,210	$8,208	0.6%	$1071.87	—	45580	00922RAB1
—	TWTR	7,736	$7,119	0.5%	$909.55	—	46096	90184LAN2
—	PMT	7,847	$6,401	0.5%	$958.34	—	46096	70932AAF0
—	BXMT	4,787	$4,143	0.3%	$986.01	—	46461	09257WAE0
—	Z	4,315	$3,981	0.3%	$942.38	—	45792	98954MAH4
—	LITE	3,596	$3,372	0.2%	$993.16	—	46371	55024UAD1
—	HOPE	2,930	$2,850	0.2%	$985.77	—	50540	43940TAB5
—	WDC	2,617	$2,492	0.2%	$952.47	—	45323	958102AP0
—	MTN	2,372	$2,093	0.1%	$1076.48	—	46023	91879QAN9
—	VRNT	1,295	$1,080	0.1%	$918.29	—	46127	92343XAC4
—	RWT	944	$855	0.1%	$992.62	—	45488	758075AD7
—	PRAA	667	$655	0.0%	$1006.75	—	45078	69354NAB2
—	HALO	125	$118	0.0%	$944.00	—	46980	40637HAE9
—	KREF	110	$109	0.0%	$990.91	—	45061	48251KAB6
—	ARI	100	$100	0.0%	$1000.00	—	45214	03762UAC9
—	PMT	95	$90	0.0%	$947.37	—	45597	70932AAD5
—	PATK	90	$90	0.0%	$1000.00	—	45153	647551AC4
—	LYFT	105	$90	0.0%	$856.00	—	45792	55087PAB0
—	PATK	90	$89	0.0%	$1025.21	—	44958	703343AB9
—	STWD	90	$89	0.0%	$988.89	—	45017	85571BAH8
—	GPMT	84	$82	0.0%	$976.19	—	45200	38741LAC1
—	ILMN	80	$77	0.0%	$962.50	—	45153	452327AK5
—	INVA	75	$74	0.0%	$986.67	—	44941	88338TAB0
—	SUPN	65	$64	0.0%	$984.62	—	45017	868459AD0
—	BXMT	65	$64	0.0%	$984.62	—	45000	09257WAC4
—	ENV	75	$63	0.0%	$840.00	—	45884	29404KAE6
—	LGND	65	$63	0.0%	$969.23	—	45061	53220KAF5
—	IART	65	$57	0.0%	$876.92	—	45884	457985AM1
—	SFL	55	$54	0.0%	$981.82	—	45047	824689AG8
—	RWT	49	$48	0.0%	$979.59	—	45153	758075AC9