Sapience Investments, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CPAY	CORPAY INC	2,052 (+36.6%)	$618 (+42.7%)	2.3%	$290.46	-0.0%	COM SHS	219948106
ACHC	ACADIA HEALTHCARE COMPANY IN	27,423 (+21.5%)	$389 (-30.4%)	1.5%	$37.26	-49.2%	COM	00404A109
SW	SMURFIT WESTROCK PLC	17,101 (+45.0%)	$661 (+31.7%)	2.5%	$42.95	-11.2%	SHS	G8267P108
ELF	E L F BEAUTY INC	9,370 (+110.2%)	$712 (+20.6%)	2.7%	$93.03	+5.8%	COM	26856L103
NCLH	NORWEGIAN CRUISE LINE HLDG L	33,287 (+30.8%)	$743 (+18.5%)	2.8%	$23.37	-9.6%	SHS	G66721104
AVTR	AVANTOR INC	56,440 (+29.6%)	$647 (+19.0%)	2.4%	$15.52	-20.7%	COM	05352A100
PLAY	DAVE & BUSTERS ENTMT INC	25,960 (+48.1%)	$421 (+32.2%)	1.6%	$28.21	-40.7%	COM	238337109
OPLN	OPENLANE INC	22,533 (+12.9%)	$671 (+16.8%)	2.5%	$19.23	+40.7%	COM	48238T109
WTFC	WINTRUST FINL CORP	4,726 (+9.4%)	$661 (+15.5%)	2.5%	$74.92	+77.5%	COM	97650W108
SLGN	SILGAN HLDGS INC	13,230 (+25.7%)	$534 (+18.0%)	2.0%	$45.40	-10.6%	COM	827048109
PZZA	PAPA JOHNS INTL INC	13,826 (+45.6%)	$532 (+16.4%)	2.0%	$43.40	-0.2%	COM	698813102
EWBC	EAST WEST BANCORP INC	5,560 (+5.7%)	$625 (+11.6%)	2.4%	$58.78	+78.9%	COM	27579R104
BRBR	BELLRING BRANDS INC	21,673 (+23.7%)	$579 (-9.0%)	2.2%	$42.29	-26.6%	COMMON STOCK	07831C103
IART	INTEGRA LIFESCIENCES HLDGS C	47,382 (+18.5%)	$588 (+2.7%)	2.2%	$32.68	-59.3%	COM NEW	457985208

Exited Positions (2)

VSCO VICTORIAS SECRET AND CO 2.3%

Value ($000) $600 Shares 22,125 Est. Cost $26.69 Unrealized +48.8%

S SENTINELONE INC 1.6%

Value ($000) $424 Shares 24,095 Est. Cost $21.57 Unrealized -24.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VSCO	VICTORIAS SECRET AND CO	22,125	$600	2.3%	$26.69	+48.8%	—	926400102
S	SENTINELONE INC	24,095	$424	1.6%	$21.57	-24.1%	—	81730H109

Decreased Positions (7)

POST POST HLDGS INC 1.4%

Value ($000) $368 (-31.0%) Shares 3,718 (-25.2%) Est. Cost $76.07 Unrealized +36.1%

COHR COHERENT CORP 2.2%

Value ($000) $595 (-21.7%) Shares 3,223 (-54.3%) Est. Cost $68.47 Unrealized +118.5%

FLEX FLEX LTD 1.4%

Value ($000) $381 (-17.9%) Shares 6,312 (-21.2%) Est. Cost $29.94 Unrealized +106.3%

AIT APPLIED INDL TECHNOLOGIES IN 1.9%

Value ($000) $507 (-12.6%) Shares 1,976 (-11.2%) Est. Cost $182.08 Unrealized +40.1%

KEX KIRBY CORP 2.4%

Value ($000) $641 (+11.0%) Shares 5,819 (-15.9%) Est. Cost $58.16 Unrealized +74.8%

ELAN ELANCO ANIMAL HEALTH INC 1.8%

Value ($000) $484 (-0.4%) Shares 21,387 (-11.4%) Est. Cost $10.67 Unrealized +103.9%

ATI ATI INC 2.6%

Value ($000) $676 (+0.3%) Shares 5,893 (-28.9%) Est. Cost $23.91 Unrealized +307.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
POST	POST HLDGS INC	3,718 (-25.2%)	$368 (-31.0%)	1.4%	$76.07	+36.1%	COM	737446104
COHR	COHERENT CORP	3,223 (-54.3%)	$595 (-21.7%)	2.2%	$68.47	+118.5%	COM	19247G107
FLEX	FLEX LTD	6,312 (-21.2%)	$381 (-17.9%)	1.4%	$29.94	+106.3%	ORD	Y2573F102
AIT	APPLIED INDL TECHNOLOGIES IN	1,976 (-11.2%)	$507 (-12.6%)	1.9%	$182.08	+40.1%	COM	03820C105
KEX	KIRBY CORP	5,819 (-15.9%)	$641 (+11.0%)	2.4%	$58.16	+74.8%	COM	497266106
ELAN	ELANCO ANIMAL HEALTH INC	21,387 (-11.4%)	$484 (-0.4%)	1.8%	$10.67	+103.9%	COM	28414H103
ATI	ATI INC	5,893 (-28.9%)	$676 (+0.3%)	2.6%	$23.91	+307.5%	COM	01741R102

Unchanged Positions (25)

TWLO TWILIO INC 2.5%

Value ($000) $675 Shares 4,749 Est. Cost $107.65 Unrealized +15.1%

EHC ENCOMPASS HEALTH CORP 1.5%

Value ($000) $403 Shares 3,796 Est. Cost $47.36 Unrealized +144.3%

COO COOPER COS INC 1.8%

Value ($000) $490 Shares 5,979 Est. Cost $70.83 Unrealized +5.7%

JLL JONES LANG LASALLE INC 2.5%

Value ($000) $669 Shares 1,988 Est. Cost $238.18 Unrealized +31.6%

RNR RENAISSANCERE HLDGS LTD 2.2%

Value ($000) $591 Shares 2,101 Est. Cost $180.61 Unrealized +45.7%

GBCI GLACIER BANCORP INC NEW 2.0%

Value ($000) $530 Shares 12,022 Est. Cost $35.38 Unrealized +23.2%

AME AMETEK INC 2.5%

Value ($000) $668 Shares 3,253 Est. Cost $75.90 Unrealized +156.1%

EYE NATIONAL VISION HLDGS INC 1.6%

Value ($000) $412 Shares 15,972 Est. Cost $20.80 Unrealized +29.3%

PR PERMIAN RESOURCES CORP 2.4%

Value ($000) $623 Shares 44,417 Est. Cost $15.41 Unrealized -12.8%

ESTC ELASTIC N V 1.4%

Value ($000) $370 Shares 4,899 Est. Cost $100.55 Unrealized -18.9%

HAS HASBRO INC 2.1%

Value ($000) $560 Shares 6,830 Est. Cost $59.65 Unrealized +30.8%

WBS WEBSTER FINL CORP 2.7%

Value ($000) $708 Shares 11,255 Est. Cost $40.36 Unrealized +47.1%

WAB WABTEC 2.2%

Value ($000) $591 Shares 2,767 Est. Cost $95.31 Unrealized +115.4%

HR HEALTHCARE RLTY TR 1.9%

Value ($000) $493 Shares 29,070 Est. Cost $20.76 Unrealized —

NDSN NORDSON CORP 2.1%

Value ($000) $555 Shares 2,309 Est. Cost $216.49 Unrealized +8.2%

BRX BRIXMOR PPTY GROUP INC 1.8%

Value ($000) $485 Shares 18,493 Est. Cost $22.67 Unrealized —

OKTA OKTA INC 1.6%

Value ($000) $425 Shares 4,911 Est. Cost $80.87 Unrealized +7.9%

IDA IDACORP INC 2.0%

Value ($000) $540 Shares 4,268 Est. Cost $101.26 Unrealized +28.5%

CDP COPT DEFENSE PROPERTIES 1.7%

Value ($000) $446 Shares 16,034 Est. Cost $27.48 Unrealized —

RRX REGAL REXNORD CORPORATION 2.4%

Value ($000) $647 Shares 4,608 Est. Cost $125.97 Unrealized +13.0%

BPOP POPULAR INC 2.1%

Value ($000) $564 Shares 4,527 Est. Cost $41.73 Unrealized +182.0%

ESNT ESSENT GROUP LTD 1.9%

Value ($000) $512 Shares 7,882 Est. Cost $36.90 Unrealized +68.2%

EQT EQT CORP 1.7%

Value ($000) $443 Shares 8,264 Est. Cost $21.30 Unrealized +163.5%

LECO LINCOLN ELEC HLDGS INC 1.9%

Value ($000) $513 Shares 2,142 Est. Cost $123.70 Unrealized +91.5%

VNOM VIPER ENERGY INC 1.5%

Value ($000) $393 Shares 10,168 Est. Cost $38.10 Unrealized -0.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TWLO	TWILIO INC	4,749	$675	2.5%	$107.65	+15.1%	CL A	90138F102
EHC	ENCOMPASS HEALTH CORP	3,796	$403	1.5%	$47.36	+144.3%	COM	29261A100
COO	COOPER COS INC	5,979	$490	1.8%	$70.83	+5.7%	COM	216648501
JLL	JONES LANG LASALLE INC	1,988	$669	2.5%	$238.18	+31.6%	COM	48020Q107
RNR	RENAISSANCERE HLDGS LTD	2,101	$591	2.2%	$180.61	+45.7%	COM	G7496G103
GBCI	GLACIER BANCORP INC NEW	12,022	$530	2.0%	$35.38	+23.2%	COM	37637Q105
AME	AMETEK INC	3,253	$668	2.5%	$75.90	+156.1%	COM	031100100
EYE	NATIONAL VISION HLDGS INC	15,972	$412	1.6%	$20.80	+29.3%	COM	63845R107
PR	PERMIAN RESOURCES CORP	44,417	$623	2.4%	$15.41	-12.8%	CLASS A COM	71424F105
ESTC	ELASTIC N V	4,899	$370	1.4%	$100.55	-18.9%	ORD SHS	N14506104
HAS	HASBRO INC	6,830	$560	2.1%	$59.65	+30.8%	COM	418056107
WBS	WEBSTER FINL CORP	11,255	$708	2.7%	$40.36	+47.1%	COM	947890109
WAB	WABTEC	2,767	$591	2.2%	$95.31	+115.4%	COM	929740108
HR	HEALTHCARE RLTY TR	29,070	$493	1.9%	$20.76	—	CL A COM	42226K105
NDSN	NORDSON CORP	2,309	$555	2.1%	$216.49	+8.2%	COM	655663102
BRX	BRIXMOR PPTY GROUP INC	18,493	$485	1.8%	$22.67	—	COM	11120U105
OKTA	OKTA INC	4,911	$425	1.6%	$80.87	+7.9%	CL A	679295105
IDA	IDACORP INC	4,268	$540	2.0%	$101.26	+28.5%	COM	451107106
CDP	COPT DEFENSE PROPERTIES	16,034	$446	1.7%	$27.48	—	SHS BEN INT	22002T108
RRX	REGAL REXNORD CORPORATION	4,608	$647	2.4%	$125.97	+13.0%	COM	758750103
BPOP	POPULAR INC	4,527	$564	2.1%	$41.73	+182.0%	COM NEW	733174700
ESNT	ESSENT GROUP LTD	7,882	$512	1.9%	$36.90	+68.2%	COM	G3198U102
EQT	EQT CORP	8,264	$443	1.7%	$21.30	+163.5%	COM	26884L109
LECO	LINCOLN ELEC HLDGS INC	2,142	$513	1.9%	$123.70	+91.5%	COM	533900106
VNOM	VIPER ENERGY INC	10,168	$393	1.5%	$38.10	-0.6%	CL A	64361Q101