Trium Capital LLP Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	CITY OFFICE REIT ORD	2,027,163	$14,170	11.0%	$6.99	—	COM	178587101
—	ANYWHERE REAL ESTATE ORD	958,378	$13,571	10.5%	$14.16	—	COM	75605Y106
EZA	ISHARES MSCI SOUTH AFRICA ETF	95,615	$6,578	5.1%	$68.80	—	COM	464286780
WCN	WASTE CONNECTIONS ORD	11,375	$1,995	1.5%	$172.81	0.0%	COM	94106B101
EIDO	ISHARES MSCI INDONESIA ETF	94,660	$1,770	1.4%	$18.70	—	COM	46429B309
CTVA	CORTEVA ORD	14,016	$939	0.7%	$64.54	0.0%	COM	22052L104
YMM	FULL TRUCK ALLNC 20 ADR REP CL A ORD	85,402	$916	0.7%	$10.73	—	Class A	35969L108
SW	SMURFIT WESTROCK ORD	23,124	$894	0.7%	$38.13	0.0%	COM	G8267P108
PEG	PUBLIC SERVICE ENTERPRISE GROUP ORD	7,585	$609	0.5%	$81.08	0.0%	COM	744573106
EXC	EXELON ORD	13,917	$607	0.5%	$45.46	0.0%	COM	30161N101
SEE	SEALED AIR ORD	3,869	$160	0.1%	$38.57	0.0%	COM	81211K100
TSLA	TESLA ORD	35,100	$40	0.0%	—	—	PUT	88160R101
KWEB	KRANESHARES CSI CHINA INTERNET ETF	711,200	$14	0.0%	$2.31	—	CALL	500767306
QCOM	QUALCOMM ORD	46,800	$6	0.0%	—	—	CALL	747525103
CRC	CALIFORNIA RESOURCES ORD	12	$1	0.0%	$47.17	0.0%	COM	13057Q305
KMB	KIMBERLY CLARK ORD	3,900	$0	0.0%	—	—	CALL	494368103
HNI	HNI ORD	5	$0	0.0%	$42.24	0.0%	COM	404251100
CIVI	CIVITAS RESOURCES ORD	1	$0	0.0%	$28.53	0.0%	COM	17888H103

Increased Positions (20)

QTRX QUANTERIX ORD 4.0%

Value ($000) $5,199 (+39.0%) Shares 817,451 (+18.7%) Est. Cost $7.54 Unrealized -17.6%

DAR DARLING INGREDIENTS ORD 1.4%

Value ($000) $1,868 (+114.5%) Shares 51,891 (+83.9%) Est. Cost $33.61 Unrealized +0.7%

TT TRANE TECHNOLOGIES ORD 1.2%

Value ($000) $1,573 (+150.3%) Shares 4,041 (+171.4%) Est. Cost $343.09 Unrealized +20.5%

LIN LINDE ORD 1.7%

Value ($000) $2,188 (+66.3%) Shares 5,132 (+85.3%) Est. Cost $421.59 Unrealized +1.3%

WAB WABTEC ORD 1.5%

Value ($000) $1,942 (+59.8%) Shares 9,100 (+50.1%) Est. Cost $166.88 Unrealized +23.0%

XYL XYLEM ORD 1.8%

Value ($000) $2,370 (+34.9%) Shares 17,403 (+46.1%) Est. Cost $131.82 Unrealized +8.9%

AYI ACUITY ORD 1.6%

Value ($000) $2,081 (+40.9%) Shares 5,779 (+34.8%) Est. Cost $284.17 Unrealized +27.1%

CNM CORE AND MAIN CL A ORD 0.7%

Value ($000) $844 (+126.0%) Shares 16,238 (+134.1%) Est. Cost $55.25 Unrealized -7.2%

PNR PENTAIR ORD 1.4%

Value ($000) $1,807 (+30.2%) Shares 17,355 (+38.5%) Est. Cost $106.55 Unrealized +0.2%

CWEN/A CLEARWAY ENERGY CL A ORD 0.8%

Value ($000) $989 (+69.7%) Shares 31,482 (+45.4%) Est. Cost $28.47 Unrealized +8.9%

RSG REPUBLIC SERVICES ORD 1.6%

Value ($000) $2,077 (+15.7%) Shares 9,802 (+25.3%) Est. Cost $197.55 Unrealized +8.6%

SHLS SHOALS TECHNOLOGIES GROUP CL A ORD 0.7%

Value ($000) $925 (+42.4%) Shares 108,794 (+24.2%) Est. Cost $6.70 Unrealized +34.0%

BLD TOPBUILD ORD 1.7%

Value ($000) $2,180 (+13.7%) Shares 5,226 (+6.5%) Est. Cost $391.69 Unrealized +9.5%

TTEK TETRA TECH ORD 0.5%

Value ($000) $698 (+52.9%) Shares 20,810 (+52.2%) Est. Cost $34.09 Unrealized -0.8%

PRIM PRIMORIS SERVICES ORD 0.5%

Value ($000) $615 (+37.4%) Shares 4,954 (+52.0%) Est. Cost $115.31 Unrealized +13.2%

WTS WATTS INDUSTRIES CL A ORD 0.7%

Value ($000) $873 (+20.2%) Shares 3,162 (+21.7%) Est. Cost $269.49 Unrealized +2.4%

GBX GREENBRIER ORD 0.6%

Value ($000) $726 (+12.6%) Shares 15,534 (+11.2%) Est. Cost $45.97 Unrealized -3.4%

VLTO VERALTO ORD 1.4%

Value ($000) $1,801 (+2.9%) Shares 18,052 (+9.9%) Est. Cost $92.78 Unrealized +8.9%

BSY BENTLEY SYSTEMS CL B ORD 0.4%

Value ($000) $546 (+9.8%) Shares 14,316 (+48.1%) Est. Cost $48.95 Unrealized -7.0%

WY WEYERHAEUSER REIT 0.7%

Value ($000) $850 (-1.8%) Shares 35,867 (+2.8%) Est. Cost $26.42 Unrealized -13.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
QTRX	QUANTERIX ORD	817,451 (+18.7%)	$5,199 (+39.0%)	4.0%	$7.54	-17.6%	COM	74766Q101
DAR	DARLING INGREDIENTS ORD	51,891 (+83.9%)	$1,868 (+114.5%)	1.4%	$33.61	+0.7%	COM	237266101
TT	TRANE TECHNOLOGIES ORD	4,041 (+171.4%)	$1,573 (+150.3%)	1.2%	$343.09	+20.5%	COM	G8994E103
LIN	LINDE ORD	5,132 (+85.3%)	$2,188 (+66.3%)	1.7%	$421.59	+1.3%	COM	G54950103
WAB	WABTEC ORD	9,100 (+50.1%)	$1,942 (+59.8%)	1.5%	$166.88	+23.0%	COM	929740108
XYL	XYLEM ORD	17,403 (+46.1%)	$2,370 (+34.9%)	1.8%	$131.82	+8.9%	COM	98419M100
AYI	ACUITY ORD	5,779 (+34.8%)	$2,081 (+40.9%)	1.6%	$284.17	+27.1%	COM	00508Y102
CNM	CORE AND MAIN CL A ORD	16,238 (+134.1%)	$844 (+126.0%)	0.7%	$55.25	-7.2%	Class A	21874C102
PNR	PENTAIR ORD	17,355 (+38.5%)	$1,807 (+30.2%)	1.4%	$106.55	+0.2%	COM	G7S00T104
CWEN/A	CLEARWAY ENERGY CL A ORD	31,482 (+45.4%)	$989 (+69.7%)	0.8%	$28.47	+8.9%	Class A	18539C105
RSG	REPUBLIC SERVICES ORD	9,802 (+25.3%)	$2,077 (+15.7%)	1.6%	$197.55	+8.6%	COM	760759100
SHLS	SHOALS TECHNOLOGIES GROUP CL A ORD	108,794 (+24.2%)	$925 (+42.4%)	0.7%	$6.70	+34.0%	Class A	82489W107
BLD	TOPBUILD ORD	5,226 (+6.5%)	$2,180 (+13.7%)	1.7%	$391.69	+9.5%	COM	89055F103
TTEK	TETRA TECH ORD	20,810 (+52.2%)	$698 (+52.9%)	0.5%	$34.09	-0.8%	COM	88162G103
PRIM	PRIMORIS SERVICES ORD	4,954 (+52.0%)	$615 (+37.4%)	0.5%	$115.31	+13.2%	COM	74164F103
WTS	WATTS INDUSTRIES CL A ORD	3,162 (+21.7%)	$873 (+20.2%)	0.7%	$269.49	+2.4%	Class A	942749102
GBX	GREENBRIER ORD	15,534 (+11.2%)	$726 (+12.6%)	0.6%	$45.97	-3.4%	COM	393657101
VLTO	VERALTO ORD	18,052 (+9.9%)	$1,801 (+2.9%)	1.4%	$92.78	+8.9%	COM	92338C103
BSY	BENTLEY SYSTEMS CL B ORD	14,316 (+48.1%)	$546 (+9.8%)	0.4%	$48.95	-7.0%	Class B	08265T208
WY	WEYERHAEUSER REIT	35,867 (+2.8%)	$850 (-1.8%)	0.7%	$26.42	-13.0%	COM	962166104

Exited Positions (20)

— MR COOPER GROUP ORD 30.6%

Value ($000) $39,460 Shares 187,201 Est. Cost $210.79 Unrealized —

EWY ISHARES MSCI SOUTH KOREA ETF 12.7%

Value ($000) $16,370 Shares 204,365 Est. Cost $71.78 Unrealized —

EWZ ISHARES MSCI BRAZIL ETF 11.7%

Value ($000) $15,123 Shares 487,829 Est. Cost $28.85 Unrealized —

— VERONA PHARMA ADR 8.3%

Value ($000) $10,654 Shares 99,837 Est. Cost $106.71 Unrealized —

TASK TASKUS CL A ORD 5.6%

Value ($000) $7,215 Shares 404,207 Est. Cost $17.30 Unrealized -26.1%

— SATIXFY COMMUNICATIONS ORD 1.8%

Value ($000) $2,310 Shares 780,316 Est. Cost $2.93 Unrealized —

NEE NEXTERA ENERGY ORD 1.1%

Value ($000) $1,359 Shares 18,000 Est. Cost $67.98 Unrealized +21.4%

— THERATECHNOLGIES ORD 0.8%

Value ($000) $1,081 Shares 318,830 Est. Cost $3.39 Unrealized —

ENS ENERSYS ORD 0.7%

Value ($000) $916 Shares 8,105 Est. Cost $97.43 Unrealized +36.9%

ZTS ZOETIS CL A ORD 0.7%

Value ($000) $858 Shares 5,863 Est. Cost $150.53 Unrealized -13.5%

CNH CNH INDUSTRIAL ORD 0.6%

Value ($000) $719 Shares 66,305 Est. Cost $12.22 Unrealized -18.3%

ITRI ITRON ORD 0.3%

Value ($000) $345 Shares 2,768 Est. Cost $106.88 Unrealized +1.9%

— SCPHARMACEUTICALS ORD 0.1%

Value ($000) $185 Shares 32,710 Est. Cost $5.67 Unrealized —

LQD ISHARES IBOXX INVT GRADE BOND ETF 0.1%

Value ($000) $146 Shares 1,120,000 Est. Cost — Unrealized —

YPF YPF SOCIEDAD ANONIM ADR REP 1 CL D O 0.1%

Value ($000) $111 Shares 917,100 Est. Cost — Unrealized —

HYG ISHARES IBOXX HIGH YIELD BOND ETF 0.1%

Value ($000) $69 Shares 1,296,200 Est. Cost — Unrealized —

KDP KEURIG DR PEPPER ORD 0.0%

Value ($000) $0 Shares 10 Est. Cost $30.82 Unrealized -11.6%

APO APOLLO GLOBAL MANAGEMENT ORD 0.0%

Value ($000) $0 Shares 1 Est. Cost $140.75 Unrealized -5.8%

SLB SLB ORD 0.0%

Value ($000) $0 Shares 2 Est. Cost $34.34 Unrealized +5.0%

RKT ROCKET COMPANIES CL A ORD 0.0%

Value ($000) $0 Shares 1 Est. Cost $17.44 Unrealized +2.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	MR COOPER GROUP ORD	187,201	$39,460	30.6%	$210.79	—	—	62482R107
EWY	ISHARES MSCI SOUTH KOREA ETF	204,365	$16,370	12.7%	$71.78	—	—	464286772
EWZ	ISHARES MSCI BRAZIL ETF	487,829	$15,123	11.7%	$28.85	—	—	464286400
—	VERONA PHARMA ADR	99,837	$10,654	8.3%	$106.71	—	—	925050106
TASK	TASKUS CL A ORD	404,207	$7,215	5.6%	$17.30	-26.1%	—	87652V109
—	SATIXFY COMMUNICATIONS ORD	780,316	$2,310	1.8%	$2.93	—	—	M82363124
NEE	NEXTERA ENERGY ORD	18,000	$1,359	1.1%	$67.98	+21.4%	—	65339F101
—	THERATECHNOLGIES ORD	318,830	$1,081	0.8%	$3.39	—	—	88338H704
ENS	ENERSYS ORD	8,105	$916	0.7%	$97.43	+36.9%	—	29275Y102
ZTS	ZOETIS CL A ORD	5,863	$858	0.7%	$150.53	-13.5%	—	98978V103
CNH	CNH INDUSTRIAL ORD	66,305	$719	0.6%	$12.22	-18.3%	—	N20944109
ITRI	ITRON ORD	2,768	$345	0.3%	$106.88	+1.9%	—	465741106
—	SCPHARMACEUTICALS ORD	32,710	$185	0.1%	$5.67	—	—	810648105
LQD	ISHARES IBOXX INVT GRADE BOND ETF	1,120,000	$146	0.1%	—	—	PUT	464287242
YPF	YPF SOCIEDAD ANONIM ADR REP 1 CL D O	917,100	$111	0.1%	—	—	CALL	984245100
HYG	ISHARES IBOXX HIGH YIELD BOND ETF	1,296,200	$69	0.1%	—	—	PUT	464288513
KDP	KEURIG DR PEPPER ORD	10	$0	0.0%	$30.82	-11.6%	—	49271V100
APO	APOLLO GLOBAL MANAGEMENT ORD	1	$0	0.0%	$140.75	-5.8%	—	03769M106
SLB	SLB ORD	2	$0	0.0%	$34.34	+5.0%	—	806857108
RKT	ROCKET COMPANIES CL A ORD	1	$0	0.0%	$17.44	+2.5%	—	77311W101

Decreased Positions (10)

KWEB KRANESHARES CSI CHINA INTERNET ETF 4.3%

Value ($000) $5,546 (-81.9%) Shares 162,865 (-77.6%) Est. Cost $2.31 Unrealized —

ASHR XTRCKR HRVST CSI 300 CHNA A SHR ETF 6.7%

Value ($000) $8,691 (-72.8%) Shares 264,556 (-72.7%) Est. Cost $32.98 Unrealized —

EWW ISHARES MSCI MEXICO ETF 3.7%

Value ($000) $4,736 (-75.3%) Shares 68,306 (-75.7%) Est. Cost $64.57 Unrealized —

ACI ALBERTSONS COMPANIES CL A ORD 8.6%

Value ($000) $11,120 (-46.8%) Shares 647,653 (-45.8%) Est. Cost $18.55 Unrealized -4.9%

ALMS ALUMIS ORD 6.8%

Value ($000) $8,717 (-30.0%) Shares 893,107 (-71.4%) Est. Cost $4.63 Unrealized +50.7%

EEM ISHARES MSCI EMERGING MARKETS ETF 5.5%

Value ($000) $7,104 (-30.2%) Shares 129,841 (-31.9%) Est. Cost $53.40 Unrealized —

OC OWENS CORNIING ORD 1.1%

Value ($000) $1,462 (-43.8%) Shares 13,064 (-29.0%) Est. Cost $144.88 Unrealized -19.0%

SPY SPDR S&P 500 ETF 0.1%

Value ($000) $155 (-72.2%) Shares 322,400 (-5.4%) Est. Cost — Unrealized —

FSLR FIRST SOLAR ORD 1.9%

Value ($000) $2,482 (-9.3%) Shares 9,500 (-23.4%) Est. Cost $189.97 Unrealized +32.8%

WM WASTE MANAGEMENT ORD 1.2%

Value ($000) $1,555 (-13.6%) Shares 7,078 (-13.2%) Est. Cost $197.06 Unrealized +7.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
KWEB	KRANESHARES CSI CHINA INTERNET ETF	162,865 (-77.6%)	$5,546 (-81.9%)	4.3%	$2.31	—	COM	500767306
ASHR	XTRCKR HRVST CSI 300 CHNA A SHR ETF	264,556 (-72.7%)	$8,691 (-72.8%)	6.7%	$32.98	—	Class A	233051879
EWW	ISHARES MSCI MEXICO ETF	68,306 (-75.7%)	$4,736 (-75.3%)	3.7%	$64.57	—	COM	464286822
ACI	ALBERTSONS COMPANIES CL A ORD	647,653 (-45.8%)	$11,120 (-46.8%)	8.6%	$18.55	-4.9%	Class A	013091103
ALMS	ALUMIS ORD	893,107 (-71.4%)	$8,717 (-30.0%)	6.8%	$4.63	+50.7%	COM	022307102
EEM	ISHARES MSCI EMERGING MARKETS ETF	129,841 (-31.9%)	$7,104 (-30.2%)	5.5%	$53.40	—	COM	464287234
OC	OWENS CORNIING ORD	13,064 (-29.0%)	$1,462 (-43.8%)	1.1%	$144.88	-19.0%	COM	690742101
SPY	SPDR S&P 500 ETF	322,400 (-5.4%)	$155 (-72.2%)	0.1%	—	—	PUT	78462F103
FSLR	FIRST SOLAR ORD	9,500 (-23.4%)	$2,482 (-9.3%)	1.9%	$189.97	+32.8%	COM	336433107
WM	WASTE MANAGEMENT ORD	7,078 (-13.2%)	$1,555 (-13.6%)	1.2%	$197.06	+7.9%	COM	94106L109

Unchanged Positions (2)

NVT NVENT ELECTRIC ORD 2.0%

Value ($000) $2,635 Shares 25,839 Est. Cost $72.96 Unrealized +42.0%

BHM BLUEROCK HOMES TRUST CL A ORD 0.2%

Value ($000) $252 Shares 23,657 Est. Cost $1.72 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NVT	NVENT ELECTRIC ORD	25,839	$2,635	2.0%	$72.96	+42.0%	COM	G6700G107
BHM	BLUEROCK HOMES TRUST CL A ORD	23,657	$252	0.2%	$1.72	—	Class A	09631H100