Bastion Asset Management Inc. Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NOA	NORTH AMERN CONSTR GROUP LTD	589,794	$9,944	5.5%	$14.23	0.0%	COM	656811106
PSN	PARSONS CORP DEL	128,186	$8,044	4.4%	$78.26	0.0%	COM	70202L102
BEN	FRANKLIN RESOURCES INC	321,511	$7,548	4.2%	$22.66	0.0%	COM	354613101
RRX	REGAL REXNORD CORPORATION	46,982	$6,669	3.7%	$142.29	0.0%	COM	758750103
GRO	BRAZIL POTASH CORP	1,752,790	$3,396	1.9%	$2.27	0.0%	COMMON SHARES	10586A108
NKE	NIKE INC	40,751	$2,553	1.4%	$64.91	0.0%	CL B	654106103
ADBE	ADOBE INC	7,182	$2,543	1.4%	$340.09	0.0%	COM	00724F101
TRIP	TRIPADVISOR INC	167,887	$2,518	1.4%	$15.22	0.0%	COM	896945201
LULU	LULULEMON ATHLETICA INC	9,721	$2,045	1.1%	$181.15	0.0%	COM	550021109
LOVE	LOVESAC COMPANY	121,285	$1,767	1.0%	$14.13	0.0%	COM	54738L109
NEOG	NEOGEN CORP	246,729	$1,736	1.0%	$6.29	0.0%	COM	640491106
EFXT	ENERFLEX LTD	87,890	$1,541	0.9%	$13.30	0.0%	COM	29269R105
CALM	CAL MAINE FOODS INC	17,264	$1,473	0.8%	$86.61	0.0%	COM NEW	128030202
CERT	CERTARA INC	55,811	$488	0.3%	$10.30	0.0%	COM	15687V109
PRSU	PURSUIT ATTRACTIONS AND HOSP	8,298	$289	0.2%	$34.92	0.0%	COM	92552R406

Increased Positions (14)

VTRS VIATRIS INC 7.9%

Value ($000) $14,346 (+128.5%) Shares 1,239,892 (+96.6%) Est. Cost $10.81 Unrealized -0.8%

ICFI ICF INTL INC 4.1%

Value ($000) $7,485 (+226.7%) Shares 88,659 (+271.2%) Est. Cost $86.98 Unrealized -2.4%

STRA STRATEGIC ED INC 3.1%

Value ($000) $5,644 (+380.1%) Shares 71,209 (+409.3%) Est. Cost $79.45 Unrealized +0.0%

AIOT POWERFLEET INC 4.9%

Value ($000) $8,853 (+85.4%) Shares 1,712,883 (+78.4%) Est. Cost $4.84 Unrealized +5.8%

GT GOODYEAR TIRE & RUBR CO 4.5%

Value ($000) $8,076 (+73.2%) Shares 963,938 (+72.9%) Est. Cost $9.39 Unrealized -16.1%

APEI AMERICAN PUB ED INC 4.3%

Value ($000) $7,828 (+47.7%) Shares 212,964 (+39.2%) Est. Cost $23.23 Unrealized +54.1%

MCS MARCUS CORP DEL 3.2%

Value ($000) $5,716 (+68.3%) Shares 374,612 (+70.1%) Est. Cost $15.55 Unrealized -4.4%

TMDX TRANSMEDICS GROUP INC 4.0%

Value ($000) $7,229 (+40.8%) Shares 57,596 (+28.3%) Est. Cost $118.92 Unrealized +5.5%

KD KYNDRYL HLDGS INC 5.0%

Value ($000) $9,039 (+23.4%) Shares 334,884 (+41.9%) Est. Cost $32.21 Unrealized -15.8%

UA UNDER ARMOUR INC 2.0%

Value ($000) $3,637 (+87.0%) Shares 753,518 (+86.9%) Est. Cost $5.06 Unrealized -12.1%

VVX V2X INC 4.5%

Value ($000) $8,225 (+20.8%) Shares 149,670 (+25.4%) Est. Cost $54.03 Unrealized +4.1%

VPG VISHAY PRECISION GROUP INC 3.4%

Value ($000) $6,078 (+23.9%) Shares 171,094 (+9.8%) Est. Cost $29.51 Unrealized +19.9%

AHCO ADAPTHEALTH CORP 2.9%

Value ($000) $5,243 (+24.9%) Shares 530,013 (+17.5%) Est. Cost $9.30 Unrealized +2.6%

ZD ZIFF DAVIS INC 1.8%

Value ($000) $3,293 (+35.9%) Shares 94,009 (+47.0%) Est. Cost $33.95 Unrealized +2.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VTRS	VIATRIS INC	1,239,892 (+96.6%)	$14,346 (+128.5%)	7.9%	$10.81	-0.8%	COM	92556V106
ICFI	ICF INTL INC	88,659 (+271.2%)	$7,485 (+226.7%)	4.1%	$86.98	-2.4%	COM	44925C103
STRA	STRATEGIC ED INC	71,209 (+409.3%)	$5,644 (+380.1%)	3.1%	$79.45	+0.0%	COM	86272C103
AIOT	POWERFLEET INC	1,712,883 (+78.4%)	$8,853 (+85.4%)	4.9%	$4.84	+5.8%	COM	73931J109
GT	GOODYEAR TIRE & RUBR CO	963,938 (+72.9%)	$8,076 (+73.2%)	4.5%	$9.39	-16.1%	COM	382550101
APEI	AMERICAN PUB ED INC	212,964 (+39.2%)	$7,828 (+47.7%)	4.3%	$23.23	+54.1%	COM	02913V103
MCS	MARCUS CORP DEL	374,612 (+70.1%)	$5,716 (+68.3%)	3.2%	$15.55	-4.4%	COM	566330106
TMDX	TRANSMEDICS GROUP INC	57,596 (+28.3%)	$7,229 (+40.8%)	4.0%	$118.92	+5.5%	COM	89377M109
KD	KYNDRYL HLDGS INC	334,884 (+41.9%)	$9,039 (+23.4%)	5.0%	$32.21	-15.8%	COMMON STOCK	50155Q100
UA	UNDER ARMOUR INC	753,518 (+86.9%)	$3,637 (+87.0%)	2.0%	$5.06	-12.1%	CL C	904311206
VVX	V2X INC	149,670 (+25.4%)	$8,225 (+20.8%)	4.5%	$54.03	+4.1%	COM	92242T101
VPG	VISHAY PRECISION GROUP INC	171,094 (+9.8%)	$6,078 (+23.9%)	3.4%	$29.51	+19.9%	COM	92835K103
AHCO	ADAPTHEALTH CORP	530,013 (+17.5%)	$5,243 (+24.9%)	2.9%	$9.30	+2.6%	COMMON STOCK	00653Q102
ZD	ZIFF DAVIS INC	94,009 (+47.0%)	$3,293 (+35.9%)	1.8%	$33.95	+2.7%	COM	48123V102

Exited Positions (28)

IAG IAMGOLD CORP 4.6%

Value ($000) $8,409 Shares 730,666 Est. Cost $7.01 Unrealized +101.0%

COO COOPER COS INC 2.6%

Value ($000) $4,690 Shares 69,395 Est. Cost $76.56 Unrealized -2.2%

MOS MOSAIC CO NEW 2.5%

Value ($000) $4,592 Shares 135,157 Est. Cost $33.96 Unrealized -21.2%

OXM OXFORD INDS INC 2.3%

Value ($000) $4,196 Shares 98,922 Est. Cost $43.33 Unrealized -14.1%

ARCB ARCBEST CORP 2.1%

Value ($000) $3,790 Shares 54,324 Est. Cost $74.93 Unrealized -5.2%

FLR FLUOR CORP NEW 2.0%

Value ($000) $3,594 Shares 84,361 Est. Cost $46.02 Unrealized -3.9%

ANGI ANGI INC 2.0%

Value ($000) $3,585 Shares 210,197 Est. Cost $16.36 Unrealized -21.3%

WLY WILEY JOHN & SONS INC 1.6%

Value ($000) $2,902 Shares 71,857 Est. Cost $40.88 Unrealized -14.9%

PFE PFIZER INC 1.3%

Value ($000) $2,380 Shares 94,371 Est. Cost $24.14 Unrealized +3.7%

THRM GENTHERM INC 1.3%

Value ($000) $2,311 Shares 69,619 Est. Cost $26.54 Unrealized +35.7%

SOLV SOLVENTUM CORP 1.2%

Value ($000) $2,195 Shares 30,010 Est. Cost $73.30 Unrealized +4.5%

AZ A2Z CUST2MATE SOLUTIONS CORP 1.1%

Value ($000) $1,944 Shares 237,383 Est. Cost $9.48 Unrealized -32.2%

ATS ATS CORPORATION 1.1%

Value ($000) $1,904 Shares 72,655 Est. Cost $28.81 Unrealized -7.3%

VIRC VIRCO MFG CO 0.9%

Value ($000) $1,704 Shares 187,167 Est. Cost $12.17 Unrealized -42.8%

ACVA ACV AUCTIONS INC 0.9%

Value ($000) $1,589 Shares 158,292 Est. Cost $12.80 Unrealized -36.8%

NEXN NEXXEN INTL LTD 0.8%

Value ($000) $1,432 Shares 148,559 Est. Cost $9.92 Unrealized -25.0%

MAN MANPOWERGROUP INC WIS 0.8%

Value ($000) $1,415 Shares 36,955 Est. Cost $41.23 Unrealized -24.2%

OUST OUSTER INC 0.8%

Value ($000) $1,388 Shares 50,647 Est. Cost $27.89 Unrealized -5.3%

HIVE HIVE DIGITAL TECHNOLOGIES LT 0.6%

Value ($000) $1,175 Shares 299,974 Est. Cost $2.69 Unrealized +56.9%

EEFT EURONET WORLDWIDE INC 0.5%

Value ($000) $932 Shares 10,550 Est. Cost $95.87 Unrealized -18.7%

DDD 3-D SYS CORP DEL 0.5%

Value ($000) $904 Shares 344,403 Est. Cost $2.06 Unrealized +18.1%

DAC DANAOS CORPORATION 0.5%

Value ($000) $893 Shares 10,070 Est. Cost $80.69 Unrealized +14.2%

OFIX ORTHOFIX MED INC 0.5%

Value ($000) $822 Shares 57,111 Est. Cost $12.72 Unrealized +20.0%

GDYN GRID DYNAMICS HLDGS INC 0.5%

Value ($000) $816 Shares 106,274 Est. Cost $8.93 Unrealized -3.0%

ASTH ASTRANA HEALTH INC 0.3%

Value ($000) $604 Shares 21,358 Est. Cost $27.10 Unrealized -2.0%

AEC ANFIELD ENERGY INC 0.3%

Value ($000) $588 Shares 59,116 Est. Cost $6.16 Unrealized +15.0%

BW BABCOCK & WILCOX ENTERPRISES 0.2%

Value ($000) $450 Shares 150,576 Est. Cost $1.77 Unrealized +178.7%

ODVWZ OSISKO DEVELOPMENT CORP 0.2%

Value ($000) $286 Shares 200,000 Est. Cost $1.43 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IAG	IAMGOLD CORP	730,666	$8,409	4.6%	$7.01	+101.0%	—	450913108
COO	COOPER COS INC	69,395	$4,690	2.6%	$76.56	-2.2%	—	216648501
MOS	MOSAIC CO NEW	135,157	$4,592	2.5%	$33.96	-21.2%	—	61945C103
OXM	OXFORD INDS INC	98,922	$4,196	2.3%	$43.33	-14.1%	—	691497309
ARCB	ARCBEST CORP	54,324	$3,790	2.1%	$74.93	-5.2%	—	03937C105
FLR	FLUOR CORP NEW	84,361	$3,594	2.0%	$46.02	-3.9%	—	343412102
ANGI	ANGI INC	210,197	$3,585	2.0%	$16.36	-21.3%	—	00183L201
WLY	WILEY JOHN & SONS INC	71,857	$2,902	1.6%	$40.88	-14.9%	—	968223206
PFE	PFIZER INC	94,371	$2,380	1.3%	$24.14	+3.7%	—	717081103
THRM	GENTHERM INC	69,619	$2,311	1.3%	$26.54	+35.7%	—	37253A103
SOLV	SOLVENTUM CORP	30,010	$2,195	1.2%	$73.30	+4.5%	—	83444M101
AZ	A2Z CUST2MATE SOLUTIONS CORP	237,383	$1,944	1.1%	$9.48	-32.2%	—	002205102
ATS	ATS CORPORATION	72,655	$1,904	1.1%	$28.81	-7.3%	—	00217Y104
VIRC	VIRCO MFG CO	187,167	$1,704	0.9%	$12.17	-42.8%	—	927651109
ACVA	ACV AUCTIONS INC	158,292	$1,589	0.9%	$12.80	-36.8%	—	00091G104
NEXN	NEXXEN INTL LTD	148,559	$1,432	0.8%	$9.92	-25.0%	—	M8T80P204
MAN	MANPOWERGROUP INC WIS	36,955	$1,415	0.8%	$41.23	-24.2%	—	56418H100
OUST	OUSTER INC	50,647	$1,388	0.8%	$27.89	-5.3%	—	68989M202
HIVE	HIVE DIGITAL TECHNOLOGIES LT	299,974	$1,175	0.6%	$2.69	+56.9%	—	433921103
EEFT	EURONET WORLDWIDE INC	10,550	$932	0.5%	$95.87	-18.7%	—	298736109
DDD	3-D SYS CORP DEL	344,403	$904	0.5%	$2.06	+18.1%	—	88554D205
DAC	DANAOS CORPORATION	10,070	$893	0.5%	$80.69	+14.2%	—	Y1968P121
OFIX	ORTHOFIX MED INC	57,111	$822	0.5%	$12.72	+20.0%	—	68752M108
GDYN	GRID DYNAMICS HLDGS INC	106,274	$816	0.5%	$8.93	-3.0%	—	39813G109
ASTH	ASTRANA HEALTH INC	21,358	$604	0.3%	$27.10	-2.0%	—	03763A207
AEC	ANFIELD ENERGY INC	59,116	$588	0.3%	$6.16	+15.0%	—	03464C205
BW	BABCOCK & WILCOX ENTERPRISES	150,576	$450	0.2%	$1.77	+178.7%	—	05614L209
ODVWZ	OSISKO DEVELOPMENT CORP	200,000	$286	0.2%	$1.43	—	—	68828E239

Decreased Positions (6)

PYPL PAYPAL HLDGS INC 1.4%

Value ($000) $2,559 (-78.0%) Shares 42,842 (-74.9%) Est. Cost $68.32 Unrealized -5.1%

GXO GXO LOGISTICS INCORPORATED 1.7%

Value ($000) $2,993 (-71.4%) Shares 57,871 (-71.4%) Est. Cost $46.70 Unrealized +12.5%

EXP EAGLE MATLS INC 1.9%

Value ($000) $3,374 (-47.6%) Shares 16,350 (-40.9%) Est. Cost $219.21 Unrealized +0.6%

RNG RINGCENTRAL INC 2.4%

Value ($000) $4,403 (-31.2%) Shares 153,978 (-31.7%) Est. Cost $32.83 Unrealized -13.3%

PACK RANPAK HOLDINGS CORP 0.9%

Value ($000) $1,674 (-47.7%) Shares 313,432 (-45.9%) Est. Cost $4.38 Unrealized +20.1%

ANGO ANGIODYNAMICS INC 7.1%

Value ($000) $12,885 (-4.1%) Shares 1,118,180 (-11.5%) Est. Cost $10.13 Unrealized +21.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PYPL	PAYPAL HLDGS INC	42,842 (-74.9%)	$2,559 (-78.0%)	1.4%	$68.32	-5.1%	COM	70450Y103
GXO	GXO LOGISTICS INCORPORATED	57,871 (-71.4%)	$2,993 (-71.4%)	1.7%	$46.70	+12.5%	COMMON STOCK	36262G101
EXP	EAGLE MATLS INC	16,350 (-40.9%)	$3,374 (-47.6%)	1.9%	$219.21	+0.6%	COM	26969P108
RNG	RINGCENTRAL INC	153,978 (-31.7%)	$4,403 (-31.2%)	2.4%	$32.83	-13.3%	CL A	76680R206
PACK	RANPAK HOLDINGS CORP	313,432 (-45.9%)	$1,674 (-47.7%)	0.9%	$4.38	+20.1%	COM CL A	75321W103
ANGO	ANGIODYNAMICS INC	1,118,180 (-11.5%)	$12,885 (-4.1%)	7.1%	$10.13	+21.9%	COM	03475V101