Watershed Asset Management, L.L.C. Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
QQQE	DIREXION SHS ETF TR	116,700	$11,940	11.1%	$102.31	—	NAS100 EQL WGT	25459Y207
V	VISA INC	15,500	$5,436	5.1%	$340.38	0.0%	COM CL A	92826C839
EWW	ISHARES INC	53,500	$3,709	3.5%	$69.33	—	MSCI MEXICO ETF	464286822
BROS	DUTCH BROS INC	57,200	$3,502	3.3%	$56.81	0.0%	CL A	26701L100
SPGI	S&P GLOBAL INC	6,200	$3,240	3.0%	$494.21	0.0%	COM	78409V104
TMO	THERMO FISHER SCIENTIFIC INC	5,400	$3,129	2.9%	$565.16	0.0%	COM	883556102
MNDY	MONDAY COM LTD	20,750	$3,062	2.9%	$168.41	0.0%	SHS	M7S64H106
MELI	MERCADOLIBRE INC	1,515	$3,052	2.8%	$2100.46	0.0%	COM	58733R102
WDC	WESTERN DIGITAL CORP	17,400	$2,997	2.8%	$151.55	0.0%	COM	958102105
GTLB	GITLAB INC	54,000	$2,027	1.9%	$43.29	0.0%	CLASS A COM	37637K108
LITE	LUMENTUM HLDGS INC	4,000	$1,474	1.4%	$256.82	0.0%	COM	55024U109
WRBY	WARBY PARKER INC	44,000	$959	0.9%	$21.76	0.0%	CL A COM	93403J106
PHIN	PHINIA INC	8,303	$521	0.5%	$55.12	0.0%	COMMON STOCK	71880K101
CAKE	CHEESECAKE FACTORY INC	9,944	$502	0.5%	$50.03	0.0%	COM	163072101
LOCO	EL POLLO LOCO HLDGS INC	47,097	$493	0.5%	$10.34	0.0%	COM	268603107
ZUMZ	ZUMIEZ INC	18,717	$488	0.5%	$24.02	0.0%	COM	989817101
ACEL	ACCEL ENTERTAINMENT INC	42,535	$485	0.5%	$10.53	0.0%	COM CL A1	00436Q106
SIG	SIGNET JEWELERS LIMITED	5,839	$484	0.5%	$94.99	0.0%	SHS	G81276100
MU	MICRON TECHNOLOGY INC	1,659	$473	0.4%	$229.35	0.0%	COM	595112103
QCOM	QUALCOMM INC	2,740	$469	0.4%	$170.79	0.0%	COM	747525103
BDC	BELDEN INC	4,021	$469	0.4%	$116.62	0.0%	COM	077454106
VNT	VONTIER CORPORATION	12,529	$466	0.4%	$38.27	0.0%	COM	928881101
VMD	VIEMED HEALTHCARE INC	62,653	$466	0.4%	$6.85	0.0%	COM	92663R105
TNL	TRAVEL PLUS LEISURE CO	6,585	$464	0.4%	$65.12	0.0%	COM	894164102
PRGS	PROGRESS SOFTWARE CORP	10,801	$464	0.4%	$43.59	0.0%	COM	743312100
MKSI	MKS INC.	2,902	$464	0.4%	$148.21	0.0%	COM	55306N104
R	RYDER SYS INC	2,421	$463	0.4%	$179.70	0.0%	COM	783549108
EVER	EVERQUOTE INC	17,129	$462	0.4%	$24.24	0.0%	COM CL A	30041R108
INVA	INNOVIVA INC	23,123	$462	0.4%	$19.53	0.0%	COM	45781M101
CPRX	CATALYST PHARMACEUTICALS INC	19,712	$460	0.4%	$22.28	0.0%	COM	14888U101
TASK	TASKUS INC	38,833	$458	0.4%	$12.78	0.0%	CLASS A COM	87652V109
SEB	SEABOARD CORP DEL	102	$453	0.4%	$3954.00	0.0%	COM	811543107
ZD	ZIFF DAVIS INC	12,883	$453	0.4%	$34.86	0.0%	COM	48123V102
HNI	HNI CORP	10,736	$451	0.4%	$42.24	0.0%	COM	404251100
CRUS	CIRRUS LOGIC INC	3,802	$451	0.4%	$123.10	0.0%	COM	172755100
AMKR	AMKOR TECHNOLOGY INC	11,402	$450	0.4%	$35.54	0.0%	COM	031652100
KR	KROGER CO	7,202	$450	0.4%	$65.22	0.0%	COM	501044101
ARW	ARROW ELECTRS INC	4,083	$450	0.4%	$113.58	0.0%	COM	042735100
FOXA	FOX CORP	6,148	$449	0.4%	$65.34	0.0%	CL A COM	35137L105
DELL	DELL TECHNOLOGIES INC	3,564	$449	0.4%	$140.75	0.0%	CL C	24703L202
ZM	ZOOM COMMUNICATIONS INC	5,192	$448	0.4%	$84.17	0.0%	CL A	98980L101
THC	TENET HEALTHCARE CORP	2,247	$447	0.4%	$202.09	0.0%	COM NEW	88033G407
FIS	FIDELITY NATL INFORMATION SV	6,713	$446	0.4%	$65.64	0.0%	COM	31620M106
CXT	CRANE NXT CO	9,471	$446	0.4%	$58.99	0.0%	COM	224441105
YELP	YELP INC	14,630	$445	0.4%	$30.84	0.0%	CL A	985817105
CON	CONCENTRA GROUP HOLDINGS PAR	22,585	$444	0.4%	$19.96	0.0%	COMMON STOCK	20603L102
VZ	VERIZON COMMUNICATIONS INC	10,902	$444	0.4%	$40.48	0.0%	COM	92343V104
DBD	DIEBOLD NIXDORF INC	6,535	$444	0.4%	$62.47	0.0%	COM SHS	253651202
AVT	AVNET INC	9,226	$444	0.4%	$48.90	0.0%	COM	053807103
MRK	MERCK & CO INC	4,214	$444	0.4%	$93.24	0.0%	COM	58933Y105
TILE	INTERFACE INC	15,879	$443	0.4%	$27.26	0.0%	COM	458665304
SNX	TD SYNNEX CORPORATION	2,945	$442	0.4%	$152.83	0.0%	COM	87162W100
VRSN	VERISIGN INC	1,819	$442	0.4%	$250.80	0.0%	COM	92343E102
DIS	DISNEY WALT CO	3,880	$441	0.4%	$109.53	0.0%	COM	254687106
DG	DOLLAR GEN CORP NEW	3,308	$439	0.4%	$111.51	0.0%	COM	256677105
CTSH	COGNIZANT TECHNOLOGY SOLUTIO	5,290	$439	0.4%	$74.65	0.0%	CL A	192446102
NTAP	NETAPP INC	4,099	$439	0.4%	$113.62	0.0%	COM	64110D104
PENG	PENGUIN SOLUTIONS INC	22,415	$438	0.4%	$21.43	0.0%	COM	706915105
SKYW	SKYWEST INC	4,365	$438	0.4%	$100.13	0.0%	COM	830879102
CPAY	CORPAY INC	1,455	$438	0.4%	$290.32	0.0%	COM SHS	219948106
C	CITIGROUP INC	3,744	$437	0.4%	$103.64	0.0%	COM NEW	172967424
KRNY	KEARNY FINL CORP MD	58,916	$437	0.4%	$6.90	0.0%	COM	48716P108
SNCY	SUN CTRY AIRLS HLDGS INC	30,237	$435	0.4%	$12.78	0.0%	COM	866683105
JBL	JABIL INC	1,908	$435	0.4%	$213.29	0.0%	COM	466313103
JBSS	SANFILIPPO JOHN B & SON INC	6,140	$433	0.4%	$67.96	0.0%	COM	800422107
CDW	CDW CORP	3,182	$433	0.4%	$147.03	0.0%	COM	12514G108
HPQ	HP INC	19,250	$429	0.4%	$25.25	0.0%	COM	40434L105
IIIN	INSTEEL INDS INC	13,501	$428	0.4%	$31.94	0.0%	COM	45774W108
ZBRA	ZEBRA TECHNOLOGIES CORPORATI	1,759	$427	0.4%	$267.42	0.0%	CL A	989207105
AMAT	APPLIED MATLS INC	1,662	$427	0.4%	$239.49	0.0%	COM	038222105
BANC	BANC OF CALIFORNIA INC	22,096	$426	0.4%	$17.85	0.0%	COM	05990K106
FMBH	FIRST MID ILL BANCSHARES INC	10,907	$425	0.4%	$37.71	0.0%	COM	320866106
WSBC	WESBANCO INC	12,739	$423	0.4%	$32.32	0.0%	COM	950810101
BUSE	FIRST BUSEY CORP	17,770	$423	0.4%	$23.21	0.0%	COM NEW	319383204
HRMY	HARMONY BIOSCIENCES HLDGS IN	11,285	$422	0.4%	$32.88	0.0%	COM	413197104
DIOD	DIODES INC	8,551	$422	0.4%	$50.60	0.0%	COM	254543101
PLXS	PLEXUS CORP	2,841	$418	0.4%	$146.63	0.0%	COM	729132100
PB	PROSPERITY BANCSHARES INC	5,966	$412	0.4%	$67.02	0.0%	COM	743606105
KFY	KORN FERRY	6,229	$411	0.4%	$66.87	0.0%	COM NEW	500643200
T	AT&T INC	16,472	$409	0.4%	$25.29	0.0%	COM	00206R102
BYD	BOYD GAMING CORP	4,766	$406	0.4%	$82.27	0.0%	COM	103304101
FLEX	FLEX LTD	6,709	$405	0.4%	$61.77	0.0%	ORD	Y2573F102
CFFN	CAPITOL FED FINL INC	59,415	$405	0.4%	$6.36	0.0%	COM	14057J101
VLY	VALLEY NATL BANCORP	34,619	$404	0.4%	$11.10	0.0%	COM	919794107
HOPE	HOPE BANCORP INC	36,654	$402	0.4%	$10.77	0.0%	COM	43940T109
BBT	BEACON FINANCIAL CORP.	15,229	$402	0.4%	$24.93	0.0%	COM	084680107
ADT	ADT INC DEL	49,250	$397	0.4%	$8.27	0.0%	COM	00090Q103
CNOB	CONNECTONE BANCORP INC	15,114	$396	0.4%	$25.06	0.0%	COM	20786W107
TMUS	T-MOBILE US INC	1,937	$393	0.4%	$211.32	0.0%	COM	872590104
CALM	CAL MAINE FOODS INC	4,914	$391	0.4%	$86.61	0.0%	COM NEW	128030202
IDCC	INTERDIGITAL INC	1,219	$388	0.4%	$353.55	0.0%	COM	45867G101
FFIC	FLUSHING FINL CORP	25,570	$388	0.4%	$15.01	0.0%	COM	343873105
OGE	OGE ENERGY CORP	8,135	$347	0.3%	$44.60	0.0%	COM	670837103
POR	PORTLAND GEN ELEC CO	7,176	$344	0.3%	$46.76	0.0%	COM NEW	736508847
NFG	NATIONAL FUEL GAS CO	4,228	$338	0.3%	$82.39	0.0%	COM	636180101
CNXC	CONCENTRIX CORP	7,432	$309	0.3%	$40.10	0.0%	COM	20602D101
LFVN	LIFEVANTAGE CORP	600	$4	0.0%	$7.40	0.0%	COM NEW	53222K205

Increased Positions (15)

MSFT MICROSOFT CORP 4.2%

Value ($000) $4,498 (+78.5%) Shares 9,300 (+38.8%) Est. Cost $355.33 Unrealized +40.9%

META META PLATFORMS INC 2.1%

Value ($000) $2,275 (+594.2%) Shares 3,447 (+272.2%) Est. Cost $553.88 Unrealized +20.5%

RYN RAYONIER INC 1.7%

Value ($000) $1,822 (-29.2%) Shares 84,135 (+9.3%) Est. Cost $38.34 Unrealized —

PRDO PERDOCEO ED CORP 0.5%

Value ($000) $503 (+96.9%) Shares 17,163 (+17.9%) Est. Cost $15.95 Unrealized +97.4%

GEN GEN DIGITAL INC 0.4%

Value ($000) $464 (+67.6%) Shares 17,062 (+40.6%) Est. Cost $21.00 Unrealized +27.9%

AKAM AKAMAI TECHNOLOGIES INC 0.4%

Value ($000) $474 (+60.9%) Shares 5,428 (+118.3%) Est. Cost $95.54 Unrealized -13.9%

CI THE CIGNA GROUP 0.4%

Value ($000) $457 (+57.7%) Shares 1,659 (+71.6%) Est. Cost $243.24 Unrealized +14.8%

UHS UNIVERSAL HLTH SVCS INC 0.4%

Value ($000) $434 (+60.9%) Shares 1,992 (+12.5%) Est. Cost $146.57 Unrealized +50.7%

EEFT EURONET WORLDWIDE INC 0.4%

Value ($000) $476 (+50.9%) Shares 6,250 (+101.2%) Est. Cost $83.77 Unrealized -6.9%

PLUS EPLUS INC 0.4%

Value ($000) $462 (+40.4%) Shares 5,271 (+27.8%) Est. Cost $57.65 Unrealized +43.1%

OMC OMNICOM GROUP INC 0.4%

Value ($000) $441 (+42.2%) Shares 5,460 (+52.3%) Est. Cost $68.90 Unrealized +9.9%

PYPL PAYPAL HLDGS INC 0.4%

Value ($000) $426 (+43.7%) Shares 7,300 (+51.1%) Est. Cost $66.11 Unrealized -1.9%

FNB F N B CORP 0.4%

Value ($000) $426 (+38.2%) Shares 24,888 (+11.3%) Est. Cost $12.32 Unrealized +32.0%

MTCH MATCH GROUP INC NEW 0.4%

Value ($000) $430 (+31.3%) Shares 13,321 (+48.4%) Est. Cost $32.95 Unrealized -0.3%

RNST RENASANT CORP 0.4%

Value ($000) $403 (+33.4%) Shares 11,430 (+27.6%) Est. Cost $34.27 Unrealized +3.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	MICROSOFT CORP	9,300 (+38.8%)	$4,498 (+78.5%)	4.2%	$355.33	+40.9%	COM	594918104
META	META PLATFORMS INC	3,447 (+272.2%)	$2,275 (+594.2%)	2.1%	$553.88	+20.5%	CL A	30303M102
RYN	RAYONIER INC	84,135 (+9.3%)	$1,822 (-29.2%)	1.7%	$38.34	—	COM	754907103
PRDO	PERDOCEO ED CORP	17,163 (+17.9%)	$503 (+96.9%)	0.5%	$15.95	+97.4%	COM	71363P106
GEN	GEN DIGITAL INC	17,062 (+40.6%)	$464 (+67.6%)	0.4%	$21.00	+27.9%	COM	668771108
AKAM	AKAMAI TECHNOLOGIES INC	5,428 (+118.3%)	$474 (+60.9%)	0.4%	$95.54	-13.9%	COM	00971T101
CI	THE CIGNA GROUP	1,659 (+71.6%)	$457 (+57.7%)	0.4%	$243.24	+14.8%	COM	125523100
UHS	UNIVERSAL HLTH SVCS INC	1,992 (+12.5%)	$434 (+60.9%)	0.4%	$146.57	+50.7%	CL B	913903100
EEFT	EURONET WORLDWIDE INC	6,250 (+101.2%)	$476 (+50.9%)	0.4%	$83.77	-6.9%	COM	298736109
PLUS	EPLUS INC	5,271 (+27.8%)	$462 (+40.4%)	0.4%	$57.65	+43.1%	COM	294268107
OMC	OMNICOM GROUP INC	5,460 (+52.3%)	$441 (+42.2%)	0.4%	$68.90	+9.9%	COM	681919106
PYPL	PAYPAL HLDGS INC	7,300 (+51.1%)	$426 (+43.7%)	0.4%	$66.11	-1.9%	COM	70450Y103
FNB	F N B CORP	24,888 (+11.3%)	$426 (+38.2%)	0.4%	$12.32	+32.0%	COM	302520101
MTCH	MATCH GROUP INC NEW	13,321 (+48.4%)	$430 (+31.3%)	0.4%	$32.95	-0.3%	COM	57667L107
RNST	RENASANT CORP	11,430 (+27.6%)	$403 (+33.4%)	0.4%	$34.27	+3.4%	COM	75970E107

Exited Positions (96)

SPY SPDR S&P 500 ETF TR 7.1%

Value ($000) $7,579 Shares 15,946 Est. Cost $394.31 Unrealized —

DHR DANAHER CORPORATION 3.5%

Value ($000) $3,759 Shares 16,250 Est. Cost $211.31 Unrealized +3.9%

MA MASTERCARD INCORPORATED 3.2%

Value ($000) $3,427 Shares 8,035 Est. Cost $337.80 Unrealized +65.5%

VWO VANGUARD INTL EQUITY INDEX F 2.6%

Value ($000) $2,754 Shares 67,000 Est. Cost $38.98 Unrealized —

GOOGL ALPHABET INC 2.0%

Value ($000) $2,165 Shares 15,500 Est. Cost $129.61 Unrealized +120.4%

— EQUITY COMWLTH 1.8%

Value ($000) $1,920 Shares 100,000 Est. Cost $20.71 Unrealized —

RGEN REPLIGEN CORP 1.5%

Value ($000) $1,600 Shares 8,900 Est. Cost $159.35 Unrealized -1.7%

EQT EQT CORP 1.3%

Value ($000) $1,442 Shares 37,300 Est. Cost $35.98 Unrealized +56.0%

SITM SITIME CORP 1.1%

Value ($000) $1,148 Shares 9,400 Est. Cost $119.20 Unrealized +162.5%

DE DEERE & CO 1.0%

Value ($000) $1,060 Shares 2,650 Est. Cost $380.64 Unrealized +22.9%

EPHE ISHARES TR 0.7%

Value ($000) $780 Shares 30,000 Est. Cost $26.04 Unrealized —

— BLACKROCK CAP INVT CORP 0.7%

Value ($000) $735 Shares 189,878 Est. Cost $4.00 Unrealized —

MSTR MICROSTRATEGY INC 0.3%

Value ($000) $369 Shares 35 Est. Cost — Unrealized —

TRIP TRIPADVISOR INC 0.3%

Value ($000) $335 Shares 15,576 Est. Cost $20.17 Unrealized -24.6%

ATNI ATN INTL INC 0.3%

Value ($000) $328 Shares 8,428 Est. Cost $31.81 Unrealized -42.4%

PLAB PHOTRONICS INC 0.3%

Value ($000) $326 Shares 10,402 Est. Cost $23.36 Unrealized +10.4%

— CROSSFIRST BANKSHARES INC 0.3%

Value ($000) $317 Shares 23,351 Est. Cost $13.58 Unrealized —

COF CAPITAL ONE FINL CORP 0.3%

Value ($000) $316 Shares 2,410 Est. Cost $104.53 Unrealized +112.6%

BLMN BLOOMIN BRANDS INC 0.3%

Value ($000) $315 Shares 11,207 Est. Cost $21.98 Unrealized -68.3%

PHM PULTE GROUP INC 0.3%

Value ($000) $315 Shares 3,054 Est. Cost $40.79 Unrealized +200.2%

TEX TEREX CORP NEW 0.3%

Value ($000) $312 Shares 5,430 Est. Cost $51.70 Unrealized -2.3%

— SOLARWINDS CORP 0.3%

Value ($000) $311 Shares 24,911 Est. Cost $12.49 Unrealized —

— H & E EQUIPMENT SERVICES INC 0.3%

Value ($000) $307 Shares 5,872 Est. Cost $44.26 Unrealized —

CMCSA COMCAST CORP NEW 0.3%

Value ($000) $307 Shares 7,006 Est. Cost $41.33 Unrealized -31.0%

DGII DIGI INTL INC 0.3%

Value ($000) $307 Shares 11,813 Est. Cost $24.81 Unrealized +61.4%

STEL STELLAR BANCORP INC 0.3%

Value ($000) $306 Shares 10,975 Est. Cost $22.82 Unrealized +34.6%

AVNW AVIAT NETWORKS INC 0.3%

Value ($000) $305 Shares 9,346 Est. Cost $31.65 Unrealized -29.5%

TDY TELEDYNE TECHNOLOGIES INC 0.3%

Value ($000) $304 Shares 681 Est. Cost $401.38 Unrealized +31.3%

KE KIMBALL ELECTRONICS INC 0.3%

Value ($000) $303 Shares 11,261 Est. Cost $22.05 Unrealized +30.9%

ORCL ORACLE CORP 0.3%

Value ($000) $303 Shares 2,874 Est. Cost $106.71 Unrealized +123.1%

UNM UNUM GROUP 0.3%

Value ($000) $302 Shares 6,672 Est. Cost $39.22 Unrealized +95.0%

SMLR SEMLER SCIENTIFIC INC 0.3%

Value ($000) $299 Shares 6,747 Est. Cost $26.33 Unrealized -13.8%

MCK MCKESSON CORP 0.3%

Value ($000) $298 Shares 643 Est. Cost $419.74 Unrealized +94.3%

WEX WEX INC 0.3%

Value ($000) $297 Shares 1,529 Est. Cost $191.51 Unrealized -21.3%

MLR MILLER INDS INC TENN 0.3%

Value ($000) $297 Shares 7,012 Est. Cost $37.99 Unrealized +2.1%

URI UNITED RENTALS INC 0.3%

Value ($000) $296 Shares 517 Est. Cost $361.03 Unrealized +140.2%

OSIS OSI SYSTEMS INC 0.3%

Value ($000) $296 Shares 2,297 Est. Cost $120.57 Unrealized +116.6%

ACIW ACI WORLDWIDE INC 0.3%

Value ($000) $296 Shares 9,687 Est. Cost $25.03 Unrealized +93.9%

TDC TERADATA CORP DEL 0.3%

Value ($000) $296 Shares 6,808 Est. Cost $44.96 Unrealized -41.8%

AGX ARGAN INC 0.3%

Value ($000) $296 Shares 6,321 Est. Cost $40.14 Unrealized +689.3%

PSMT PRICESMART INC 0.3%

Value ($000) $296 Shares 3,900 Est. Cost $73.24 Unrealized +65.9%

PCAR PACCAR INC 0.3%

Value ($000) $295 Shares 3,024 Est. Cost $81.80 Unrealized +23.7%

— FLEETCOR TECHNOLOGIES INC 0.3%

Value ($000) $294 Shares 1,042 Est. Cost $212.64 Unrealized —

NSSC NAPCO SEC TECHNOLOGIES INC 0.3%

Value ($000) $294 Shares 8,596 Est. Cost $25.76 Unrealized +62.9%

FULT FULTON FINL CORP PA 0.3%

Value ($000) $294 Shares 17,874 Est. Cost $10.75 Unrealized +69.6%

FFIV F5 INC 0.3%

Value ($000) $294 Shares 1,640 Est. Cost $142.17 Unrealized +89.2%

MCS MARCUS CORP DEL 0.3%

Value ($000) $292 Shares 20,044 Est. Cost $16.00 Unrealized -7.1%

ALGM ALLEGRO MICROSYSTEMS INC 0.3%

Value ($000) $292 Shares 9,650 Est. Cost $28.56 Unrealized -3.6%

AVGO BROADCOM INC 0.3%

Value ($000) $291 Shares 261 Est. Cost $92.23 Unrealized +287.1%

CENT CENTRAL GARDEN & PET CO 0.3%

Value ($000) $291 Shares 5,812 Est. Cost $34.86 Unrealized -8.4%

GXO GXO LOGISTICS INCORPORATED 0.3%

Value ($000) $291 Shares 4,760 Est. Cost $56.03 Unrealized -6.2%

ONB OLD NATL BANCORP IND 0.3%

Value ($000) $291 Shares 17,230 Est. Cost $17.75 Unrealized +21.5%

HTBK HERITAGE COMM CORP 0.3%

Value ($000) $291 Shares 29,300 Est. Cost $8.89 Unrealized +22.1%

PFGC PERFORMANCE FOOD GROUP CO 0.3%

Value ($000) $290 Shares 4,192 Est. Cost $61.45 Unrealized +57.1%

CARS CARS COM INC 0.3%

Value ($000) $288 Shares 15,191 Est. Cost $14.17 Unrealized -18.0%

MCHP MICROCHIP TECHNOLOGY INC. 0.3%

Value ($000) $287 Shares 3,185 Est. Cost $74.11 Unrealized -17.2%

ATGE ADTALEM GLOBAL ED INC 0.3%

Value ($000) $287 Shares 4,865 Est. Cost $42.24 Unrealized +171.1%

TRMK TRUSTMARK CORP 0.3%

Value ($000) $286 Shares 10,274 Est. Cost $21.81 Unrealized +77.8%

IBM INTERNATIONAL BUSINESS MACHS 0.3%

Value ($000) $286 Shares 1,746 Est. Cost $141.50 Unrealized +111.2%

HCA HCA HEALTHCARE INC 0.3%

Value ($000) $285 Shares 1,054 Est. Cost $250.34 Unrealized +85.2%

ADNT ADIENT PLC 0.3%

Value ($000) $284 Shares 7,818 Est. Cost $39.44 Unrealized -46.6%

DOX AMDOCS LTD 0.3%

Value ($000) $284 Shares 3,232 Est. Cost $88.28 Unrealized -9.5%

L LOEWS CORP 0.3%

Value ($000) $282 Shares 4,059 Est. Cost $55.15 Unrealized +87.2%

JKHY HENRY JACK & ASSOC INC 0.3%

Value ($000) $282 Shares 1,727 Est. Cost $148.87 Unrealized +11.7%

UTHR UNITED THERAPEUTICS CORP DEL 0.3%

Value ($000) $280 Shares 1,275 Est. Cost $249.17 Unrealized +86.9%

HCKT HACKETT GROUP INC 0.3%

Value ($000) $280 Shares 12,302 Est. Cost $23.22 Unrealized -18.3%

HUM HUMANA INC 0.3%

Value ($000) $279 Shares 609 Est. Cost $479.23 Unrealized -45.5%

AGCO AGCO CORP 0.3%

Value ($000) $278 Shares 2,292 Est. Cost $115.05 Unrealized -7.9%

VLGEA VILLAGE SUPER MKT INC 0.3%

Value ($000) $277 Shares 10,576 Est. Cost $23.08 Unrealized +48.7%

ANF ABERCROMBIE & FITCH CO 0.3%

Value ($000) $277 Shares 3,144 Est. Cost $44.40 Unrealized +96.9%

MOH MOLINA HEALTHCARE INC 0.3%

Value ($000) $277 Shares 767 Est. Cost $321.16 Unrealized -48.8%

OPY OPPENHEIMER HLDGS INC 0.3%

Value ($000) $277 Shares 6,694 Est. Cost $38.27 Unrealized +81.9%

ELV ELEVANCE HEALTH INC 0.3%

Value ($000) $276 Shares 586 Est. Cost $404.21 Unrealized -16.7%

FISV FISERV INC 0.3%

Value ($000) $275 Shares 2,071 Est. Cost $123.15 Unrealized -31.9%

COKE COCA COLA CONS INC 0.3%

Value ($000) $275 Shares 296 Est. Cost $49.58 Unrealized +195.3%

ADUS ADDUS HOMECARE CORP 0.3%

Value ($000) $275 Shares 2,957 Est. Cost $86.94 Unrealized +32.1%

DAKT DAKTRONICS INC 0.3%

Value ($000) $274 Shares 32,326 Est. Cost $8.08 Unrealized +136.5%

BBW BUILD-A-BEAR WORKSHOP INC 0.3%

Value ($000) $274 Shares 11,918 Est. Cost $21.55 Unrealized +151.8%

LRN STRIDE INC 0.3%

Value ($000) $273 Shares 4,596 Est. Cost $40.67 Unrealized +123.2%

ODC OIL DRI CORP AMER 0.3%

Value ($000) $272 Shares 4,059 Est. Cost $30.35 Unrealized +82.6%

CIVB CIVISTA BANCSHARES INC 0.3%

Value ($000) $272 Shares 14,744 Est. Cost $15.80 Unrealized +38.4%

UAL UNITED AIRLS HLDGS INC 0.3%

Value ($000) $270 Shares 6,537 Est. Cost $47.13 Unrealized +114.4%

INGR INGREDION INC 0.2%

Value ($000) $267 Shares 2,464 Est. Cost $105.87 Unrealized +6.5%

CIEN CIENA CORP 0.2%

Value ($000) $267 Shares 5,929 Est. Cost $44.08 Unrealized +340.1%

PNTG PENNANT GROUP INC 0.2%

Value ($000) $265 Shares 19,054 Est. Cost $11.58 Unrealized +129.8%

ENSG ENSIGN GROUP INC 0.2%

Value ($000) $262 Shares 2,337 Est. Cost $78.01 Unrealized +130.2%

— NEW YORK CMNTY BANCORP INC 0.2%

Value ($000) $259 Shares 25,289 Est. Cost $10.23 Unrealized —

F FORD MTR CO DEL 0.2%

Value ($000) $258 Shares 21,162 Est. Cost $10.24 Unrealized +25.3%

CSCO CISCO SYS INC 0.2%

Value ($000) $254 Shares 5,035 Est. Cost $44.89 Unrealized +64.4%

— GUESS INC 0.2%

Value ($000) $254 Shares 10,998 Est. Cost $23.06 Unrealized —

SEM SELECT MED HLDGS CORP 0.2%

Value ($000) $253 Shares 10,760 Est. Cost $14.63 Unrealized -3.6%

NWN NORTHWEST NAT HLDG CO 0.2%

Value ($000) $240 Shares 6,157 Est. Cost $38.01 Unrealized +22.7%

PEG PUBLIC SVC ENTERPRISE GRP IN 0.2%

Value ($000) $226 Shares 3,698 Est. Cost $56.73 Unrealized +42.9%

PNW PINNACLE WEST CAP CORP 0.2%

Value ($000) $226 Shares 3,144 Est. Cost $67.20 Unrealized +32.8%

CNK CINEMARK HLDGS INC 0.2%

Value ($000) $221 Shares 15,658 Est. Cost $16.36 Unrealized +60.4%

MGM MGM RESORTS INTERNATIONAL 0.2%

Value ($000) $217 Shares 4,865 Est. Cost $42.72 Unrealized -20.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	15,946	$7,579	7.1%	$394.31	—	—	78462F103
DHR	DANAHER CORPORATION	16,250	$3,759	3.5%	$211.31	+3.9%	—	235851102
MA	MASTERCARD INCORPORATED	8,035	$3,427	3.2%	$337.80	+65.5%	—	57636Q104
VWO	VANGUARD INTL EQUITY INDEX F	67,000	$2,754	2.6%	$38.98	—	—	922042858
GOOGL	ALPHABET INC	15,500	$2,165	2.0%	$129.61	+120.4%	—	02079K305
—	EQUITY COMWLTH	100,000	$1,920	1.8%	$20.71	—	—	294628102
RGEN	REPLIGEN CORP	8,900	$1,600	1.5%	$159.35	-1.7%	—	759916109
EQT	EQT CORP	37,300	$1,442	1.3%	$35.98	+56.0%	—	26884L109
SITM	SITIME CORP	9,400	$1,148	1.1%	$119.20	+162.5%	—	82982T106
DE	DEERE & CO	2,650	$1,060	1.0%	$380.64	+22.9%	—	244199105
EPHE	ISHARES TR	30,000	$780	0.7%	$26.04	—	—	46429B408
—	BLACKROCK CAP INVT CORP	189,878	$735	0.7%	$4.00	—	—	092533108
MSTR	MICROSTRATEGY INC	35	$369	0.3%	—	—	PUT	594972408
TRIP	TRIPADVISOR INC	15,576	$335	0.3%	$20.17	-24.6%	—	896945201
ATNI	ATN INTL INC	8,428	$328	0.3%	$31.81	-42.4%	—	00215F107
PLAB	PHOTRONICS INC	10,402	$326	0.3%	$23.36	+10.4%	—	719405102
—	CROSSFIRST BANKSHARES INC	23,351	$317	0.3%	$13.58	—	—	22766M109
COF	CAPITAL ONE FINL CORP	2,410	$316	0.3%	$104.53	+112.6%	—	14040H105
BLMN	BLOOMIN BRANDS INC	11,207	$315	0.3%	$21.98	-68.3%	—	094235108
PHM	PULTE GROUP INC	3,054	$315	0.3%	$40.79	+200.2%	—	745867101
TEX	TEREX CORP NEW	5,430	$312	0.3%	$51.70	-2.3%	—	880779103
—	SOLARWINDS CORP	24,911	$311	0.3%	$12.49	—	—	83417Q204
—	H & E EQUIPMENT SERVICES INC	5,872	$307	0.3%	$44.26	—	—	404030108
CMCSA	COMCAST CORP NEW	7,006	$307	0.3%	$41.33	-31.0%	—	20030N101
DGII	DIGI INTL INC	11,813	$307	0.3%	$24.81	+61.4%	—	253798102
STEL	STELLAR BANCORP INC	10,975	$306	0.3%	$22.82	+34.6%	—	858927106
AVNW	AVIAT NETWORKS INC	9,346	$305	0.3%	$31.65	-29.5%	—	05366Y201
TDY	TELEDYNE TECHNOLOGIES INC	681	$304	0.3%	$401.38	+31.3%	—	879360105
KE	KIMBALL ELECTRONICS INC	11,261	$303	0.3%	$22.05	+30.9%	—	49428J109
ORCL	ORACLE CORP	2,874	$303	0.3%	$106.71	+123.1%	—	68389X105
UNM	UNUM GROUP	6,672	$302	0.3%	$39.22	+95.0%	—	91529Y106
SMLR	SEMLER SCIENTIFIC INC	6,747	$299	0.3%	$26.33	-13.8%	—	81684M104
MCK	MCKESSON CORP	643	$298	0.3%	$419.74	+94.3%	—	58155Q103
WEX	WEX INC	1,529	$297	0.3%	$191.51	-21.3%	—	96208T104
MLR	MILLER INDS INC TENN	7,012	$297	0.3%	$37.99	+2.1%	—	600551204
URI	UNITED RENTALS INC	517	$296	0.3%	$361.03	+140.2%	—	911363109
OSIS	OSI SYSTEMS INC	2,297	$296	0.3%	$120.57	+116.6%	—	671044105
ACIW	ACI WORLDWIDE INC	9,687	$296	0.3%	$25.03	+93.9%	—	004498101
TDC	TERADATA CORP DEL	6,808	$296	0.3%	$44.96	-41.8%	—	88076W103
AGX	ARGAN INC	6,321	$296	0.3%	$40.14	+689.3%	—	04010E109
PSMT	PRICESMART INC	3,900	$296	0.3%	$73.24	+65.9%	—	741511109
PCAR	PACCAR INC	3,024	$295	0.3%	$81.80	+23.7%	—	693718108
—	FLEETCOR TECHNOLOGIES INC	1,042	$294	0.3%	$212.64	—	—	339041105
NSSC	NAPCO SEC TECHNOLOGIES INC	8,596	$294	0.3%	$25.76	+62.9%	—	630402105
FULT	FULTON FINL CORP PA	17,874	$294	0.3%	$10.75	+69.6%	—	360271100
FFIV	F5 INC	1,640	$294	0.3%	$142.17	+89.2%	—	315616102
MCS	MARCUS CORP DEL	20,044	$292	0.3%	$16.00	-7.1%	—	566330106
ALGM	ALLEGRO MICROSYSTEMS INC	9,650	$292	0.3%	$28.56	-3.6%	—	01749D105
AVGO	BROADCOM INC	261	$291	0.3%	$92.23	+287.1%	—	11135F101
CENT	CENTRAL GARDEN & PET CO	5,812	$291	0.3%	$34.86	-8.4%	—	153527106
GXO	GXO LOGISTICS INCORPORATED	4,760	$291	0.3%	$56.03	-6.2%	—	36262G101
ONB	OLD NATL BANCORP IND	17,230	$291	0.3%	$17.75	+21.5%	—	680033107
HTBK	HERITAGE COMM CORP	29,300	$291	0.3%	$8.89	+22.1%	—	426927109
PFGC	PERFORMANCE FOOD GROUP CO	4,192	$290	0.3%	$61.45	+57.1%	—	71377A103
CARS	CARS COM INC	15,191	$288	0.3%	$14.17	-18.0%	—	14575E105
MCHP	MICROCHIP TECHNOLOGY INC.	3,185	$287	0.3%	$74.11	-17.2%	—	595017104
ATGE	ADTALEM GLOBAL ED INC	4,865	$287	0.3%	$42.24	+171.1%	—	00737L103
TRMK	TRUSTMARK CORP	10,274	$286	0.3%	$21.81	+77.8%	—	898402102
IBM	INTERNATIONAL BUSINESS MACHS	1,746	$286	0.3%	$141.50	+111.2%	—	459200101
HCA	HCA HEALTHCARE INC	1,054	$285	0.3%	$250.34	+85.2%	—	40412C101
ADNT	ADIENT PLC	7,818	$284	0.3%	$39.44	-46.6%	—	G0084W101
DOX	AMDOCS LTD	3,232	$284	0.3%	$88.28	-9.5%	—	G02602103
L	LOEWS CORP	4,059	$282	0.3%	$55.15	+87.2%	—	540424108
JKHY	HENRY JACK & ASSOC INC	1,727	$282	0.3%	$148.87	+11.7%	—	426281101
UTHR	UNITED THERAPEUTICS CORP DEL	1,275	$280	0.3%	$249.17	+86.9%	—	91307C102
HCKT	HACKETT GROUP INC	12,302	$280	0.3%	$23.22	-18.3%	—	404609109
HUM	HUMANA INC	609	$279	0.3%	$479.23	-45.5%	—	444859102
AGCO	AGCO CORP	2,292	$278	0.3%	$115.05	-7.9%	—	001084102
VLGEA	VILLAGE SUPER MKT INC	10,576	$277	0.3%	$23.08	+48.7%	—	927107409
ANF	ABERCROMBIE & FITCH CO	3,144	$277	0.3%	$44.40	+96.9%	—	002896207
MOH	MOLINA HEALTHCARE INC	767	$277	0.3%	$321.16	-48.8%	—	60855R100
OPY	OPPENHEIMER HLDGS INC	6,694	$277	0.3%	$38.27	+81.9%	—	683797104
ELV	ELEVANCE HEALTH INC	586	$276	0.3%	$404.21	-16.7%	—	036752103
FISV	FISERV INC	2,071	$275	0.3%	$123.15	-31.9%	—	337738108
COKE	COCA COLA CONS INC	296	$275	0.3%	$49.58	+195.3%	—	191098102
ADUS	ADDUS HOMECARE CORP	2,957	$275	0.3%	$86.94	+32.1%	—	006739106
DAKT	DAKTRONICS INC	32,326	$274	0.3%	$8.08	+136.5%	—	234264109
BBW	BUILD-A-BEAR WORKSHOP INC	11,918	$274	0.3%	$21.55	+151.8%	—	120076104
LRN	STRIDE INC	4,596	$273	0.3%	$40.67	+123.2%	—	86333M108
ODC	OIL DRI CORP AMER	4,059	$272	0.3%	$30.35	+82.6%	—	677864100
CIVB	CIVISTA BANCSHARES INC	14,744	$272	0.3%	$15.80	+38.4%	—	178867107
UAL	UNITED AIRLS HLDGS INC	6,537	$270	0.3%	$47.13	+114.4%	—	910047109
INGR	INGREDION INC	2,464	$267	0.2%	$105.87	+6.5%	—	457187102
CIEN	CIENA CORP	5,929	$267	0.2%	$44.08	+340.1%	—	171779309
PNTG	PENNANT GROUP INC	19,054	$265	0.2%	$11.58	+129.8%	—	70805E109
ENSG	ENSIGN GROUP INC	2,337	$262	0.2%	$78.01	+130.2%	—	29358P101
—	NEW YORK CMNTY BANCORP INC	25,289	$259	0.2%	$10.23	—	—	649445103
F	FORD MTR CO DEL	21,162	$258	0.2%	$10.24	+25.3%	—	345370860
CSCO	CISCO SYS INC	5,035	$254	0.2%	$44.89	+64.4%	—	17275R102
—	GUESS INC	10,998	$254	0.2%	$23.06	—	—	401617105
SEM	SELECT MED HLDGS CORP	10,760	$253	0.2%	$14.63	-3.6%	—	81619Q105
NWN	NORTHWEST NAT HLDG CO	6,157	$240	0.2%	$38.01	+22.7%	—	66765N105
PEG	PUBLIC SVC ENTERPRISE GRP IN	3,698	$226	0.2%	$56.73	+42.9%	—	744573106
PNW	PINNACLE WEST CAP CORP	3,144	$226	0.2%	$67.20	+32.8%	—	723484101
CNK	CINEMARK HLDGS INC	15,658	$221	0.2%	$16.36	+60.4%	—	17243V102
MGM	MGM RESORTS INTERNATIONAL	4,865	$217	0.2%	$42.72	-20.6%	—	552953101

Decreased Positions (5)

VEU VANGUARD INTL EQUITY INDEX F 5.2%

Value ($000) $5,571 (-68.5%) Shares 75,739 (-75.9%) Est. Cost $50.14 Unrealized —

INDA ISHARES TR 2.5%

Value ($000) $2,703 (-44.6%) Shares 50,000 (-50.0%) Est. Cost $43.70 Unrealized —

SE SEA LTD 2.3%

Value ($000) $2,485 (+107.3%) Shares 19,480 (-34.2%) Est. Cost $43.03 Unrealized —

ACMR ACM RESH INC 0.4%

Value ($000) $428 (+37.4%) Shares 10,845 (-31.9%) Est. Cost $15.13 Unrealized +146.3%

TPR TAPESTRY INC 0.4%

Value ($000) $383 (+19.4%) Shares 3,000 (-65.6%) Est. Cost $29.19 Unrealized +290.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VEU	VANGUARD INTL EQUITY INDEX F	75,739 (-75.9%)	$5,571 (-68.5%)	5.2%	$50.14	—	ALLWRLD EX US	922042775
INDA	ISHARES TR	50,000 (-50.0%)	$2,703 (-44.6%)	2.5%	$43.70	—	MSCI INDIA ETF	46429B598
SE	SEA LTD	19,480 (-34.2%)	$2,485 (+107.3%)	2.3%	$43.03	—	SPONSORD ADS	81141R100
ACMR	ACM RESH INC	10,845 (-31.9%)	$428 (+37.4%)	0.4%	$15.13	+146.3%	COM CL A	00108J109
TPR	TAPESTRY INC	3,000 (-65.6%)	$383 (+19.4%)	0.4%	$29.19	+290.6%	COM	876030107

Unchanged Positions (1)

COLL COLLEGIUM PHARMACEUTICAL INC 0.4%

Value ($000) $446 Shares 9,623 Est. Cost $22.70 Unrealized +84.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
COLL	COLLEGIUM PHARMACEUTICAL INC	9,623	$446	0.4%	$22.70	+84.3%	COM	19459J104