First Trust Active Factor Small Cap ETF (AFSM)

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Holdings

Holdings of the Fund as of 11/25/2025

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Total Number of Holdings (excluding cash): 322

Security Name	Identifier	CUSIP	Classification	Shares / Quantity	Market Value	Weighting
InterDigital, Inc.	IDCC	45867G101	Information Technology	1,401	$500,955.57	1.05%
Carpenter Technology Corporation	CRS	144285103	Industrials	1,479	$477,480.36	1.00%
TTM Technologies, Inc.	TTMI	87305R109	Information Technology	6,938	$475,322.38	1.00%
Sanmina Corporation	SANM	801056102	Information Technology	3,053	$471,138.96	0.99%
Perimeter Solutions, Inc.	PRM	71385M107	Materials	17,080	$467,308.80	0.98%
Comfort Systems USA, Inc.	FIX	199908104	Industrials	470	$449,808.80	0.95%
Halozyme Therapeutics, Inc.	HALO	40637H109	Health Care	6,228	$453,522.96	0.95%
American Healthcare REIT, Inc.	AHR	398182303	Real Estate	8,610	$420,081.90	0.88%
Corcept Therapeutics Inc.	CORT	218352102	Health Care	4,999	$401,319.72	0.84%
Catalyst Pharmaceuticals, Inc.	CPRX	14888U101	Health Care	16,210	$382,393.90	0.80%
Credo Technology Group Holding Ltd	CRDO	G25457105	Information Technology	2,385	$367,719.30	0.77%
Bel Fuse Inc. (Class B)	BELFB	077347300	Information Technology	2,351	$354,624.84	0.75%
GeneDx Holdings Corp.	WGS	81663L200	Health Care	2,137	$357,979.62	0.75%
Turning Point Brands, Inc.	TPB	90041L105	Consumer Staples	3,471	$342,795.96	0.72%
Veracyte, Inc.	VCYT	92337F107	Health Care	6,947	$343,042.86	0.72%
iRhythm Technologies, Inc.	IRTC	450056106	Health Care	1,805	$339,881.50	0.71%
Cal-Maine Foods, Inc.	CALM	128030202	Consumer Staples	3,945	$330,788.25	0.70%
Kiniksa Pharmaceuticals International, Plc (Class A)	KNSA	G52694109	Health Care	7,794	$332,881.74	0.70%
Macy's, Inc.	M	55616P104	Consumer Discretionary	15,255	$333,321.75	0.70%
ADMA Biologics, Inc.	ADMA	000899104	Health Care	16,571	$318,328.91	0.67%
Clear Secure, Inc. (Class A)	YOU	18467V109	Information Technology	8,908	$318,282.84	0.67%
SiriusPoint Ltd.	SPNT	G8192H106	Financials	15,236	$318,737.12	0.67%
Teekay Tankers Ltd. (Class A)	TNK	G8726X106	Energy	5,410	$320,650.70	0.67%
Enact Holdings, Inc.	ACT	29249E109	Financials	7,850	$306,856.50	0.65%
Hamilton Insurance Group, Ltd. (Class B)	HG	G42706104	Financials	11,215	$309,534.00	0.65%
Progyny, Inc.	PGNY	74340E103	Health Care	11,450	$306,516.50	0.64%
MGIC Investment Corporation	MTG	552848103	Financials	10,452	$297,254.88	0.62%
Preferred Bank	PFBC	740367404	Financials	3,112	$296,169.04	0.62%
Calix, Inc.	CALX	13100M509	Information Technology	5,178	$289,553.76	0.61%
Genco Shipping & Trading Limited	GNK	Y2685T131	Industrials	15,405	$291,000.45	0.61%
Rambus Inc.	RMBS	750917106	Information Technology	3,115	$287,981.75	0.61%
Red Violet, Inc.	RDVT	75704L104	Information Technology	5,287	$291,789.53	0.61%
Tactile Systems Technology, Inc.	TCMD	87357P100	Health Care	11,174	$291,194.44	0.61%
Interface, Inc.	TILE	458665304	Industrials	10,283	$286,381.55	0.60%
Sterling Infrastructure, Inc.	STRL	859241101	Industrials	863	$287,344.48	0.60%
Tutor Perini Corporation	TPC	901109108	Industrials	4,395	$286,378.20	0.60%
Applied Industrial Technologies, Inc.	AIT	03820C105	Industrials	1,102	$281,869.56	0.59%
Brinker International, Inc.	EAT	109641100	Consumer Discretionary	1,866	$279,358.86	0.59%
Digi International Inc.	DGII	253798102	Information Technology	6,761	$282,880.24	0.59%
National Health Investors, Inc.	NHI	63633D104	Real Estate	3,545	$281,508.45	0.59%
PHINIA Inc.	PHIN	71880K101	Consumer Discretionary	5,104	$280,260.64	0.59%
EMCOR Group, Inc.	EME	29084Q100	Industrials	452	$273,735.72	0.58%
Ames National Corporation	ATLO	031001100	Financials	12,501	$271,896.75	0.57%
Blue Bird Corporation	BLBD	095306106	Industrials	5,253	$272,315.52	0.57%
Axcelis Technologies, Inc.	ACLS	054540208	Information Technology	3,233	$267,530.75	0.56%
Life360, Inc.	LIF	532206109	Information Technology	3,349	$264,269.59	0.56%
Caledonia Mining Corporation Plc	CMCL	G1757E113	Materials	8,996	$260,254.28	0.55%
Dorman Products, Inc.	DORM	258278100	Consumer Discretionary	1,918	$259,850.64	0.55%
First Financial Corporation	THFF	320218100	Financials	4,416	$261,383.04	0.55%
Medpace Holdings, Inc.	MEDP	58506Q109	Health Care	431	$263,690.11	0.55%
Sensient Technologies Corporation	SXT	81725T100	Materials	2,689	$261,639.70	0.55%
The Bancorp, Inc.	TBBK	05969A105	Financials	4,056	$260,922.48	0.55%
Bank First Corporation	BFC	06211J100	Financials	2,022	$255,439.26	0.54%
G-III Apparel Group, Ltd.	GIII	36237H101	Consumer Discretionary	8,648	$255,202.48	0.54%
Mueller Water Products, Inc.	MWA	624758108	Industrials	10,323	$251,158.59	0.53%
Nu Skin Enterprises, Inc. (Class A)	NUS	67018T105	Consumer Staples	25,089	$253,900.68	0.53%
Carvana Co. (Class A)	CVNA	146869102	Consumer Discretionary	699	$245,509.77	0.52%
City Holding Company	CHCO	177835105	Financials	2,019	$247,610.16	0.52%
Federated Hermes, Inc. (Class B)	FHI	314211103	Financials	4,985	$246,408.55	0.52%
Fidelis Insurance Holdings Limited	FIHL	G3398L118	Financials	12,214	$230,844.60	0.49%
Peoples Bancorp of North Carolina, Inc.	PEBK	710577107	Financials	7,296	$235,223.04	0.49%
Sylvamo Corporation	SLVM	871332102	Materials	4,809	$230,976.27	0.49%
First BanCorp.	FBP	318672706	Financials	11,478	$229,674.78	0.48%
Hawkins, Inc.	HWKN	420261109	Materials	1,757	$227,935.61	0.48%
The Bank of N.T. Butterfield & Son Limited	NTB	G0772R208	Financials	4,870	$226,552.40	0.48%
Tri Pointe Homes, Inc.	TPH	87265H109	Consumer Discretionary	6,745	$228,250.80	0.48%
Alpha Metallurgical Resources, Inc.	AMR	020764106	Materials	1,404	$222,927.12	0.47%
IES Holdings, Inc.	IESC	44951W106	Industrials	550	$224,125.00	0.47%
Alkermes Plc	ALKS	G01767105	Health Care	7,539	$218,555.61	0.46%
EPR Properties	EPR	26884U109	Real Estate	4,205	$219,164.60	0.46%
NETGEAR, Inc.	NTGR	64111Q104	Information Technology	8,658	$220,779.00	0.46%
Commvault Systems, Inc.	CVLT	204166102	Information Technology	1,704	$211,227.84	0.44%
Matson, Inc.	MATX	57686G105	Industrials	1,935	$211,282.65	0.44%
Mitek Systems, Inc.	MITK	606710200	Information Technology	23,076	$208,145.52	0.44%
Resolute Holdings Management, Inc.	RHLD	76134H101	Industrials	1,160	$208,196.80	0.44%
ScanSource, Inc.	SCSC	806037107	Information Technology	4,830	$198,657.90	0.42%
Atkore Inc.	ATKR	047649108	Industrials	2,985	$194,323.50	0.41%
BrightSpring Health Services, Inc.	BTSG	10950A106	Health Care	5,400	$195,588.00	0.41%
DXP Enterprises, Inc.	DXPE	233377407	Industrials	2,110	$197,116.20	0.41%
Harmonic Inc.	HLIT	413160102	Information Technology	20,562	$194,927.76	0.41%
Perdoceo Education Corporation	PRDO	71363P106	Consumer Discretionary	7,040	$196,556.80	0.41%
SPX Technologies	SPXC	78473E103	Industrials	904	$194,992.80	0.41%
Huron Consulting Group Inc.	HURN	447462102	Industrials	1,162	$191,706.76	0.40%
Laureate Education, Inc. (Class A)	LAUR	518613203	Consumer Discretionary	6,287	$189,930.27	0.40%
Scorpio Tankers Inc.	STNG	Y7542C130	Energy	3,248	$191,177.28	0.40%
Astronics Corporation	ATRO	046433108	Industrials	3,604	$184,056.28	0.39%
Tarsus Pharmaceuticals, Inc.	TARS	87650L103	Health Care	2,375	$187,340.00	0.39%
Northeast Community Bancorp, Inc.	NECB	664121100	Financials	8,604	$182,146.68	0.38%
Pacira BioSciences, Inc.	PCRX	695127100	Health Care	7,725	$178,988.25	0.38%
Cushman & Wakefield Plc	CWK	G2717B108	Real Estate	10,466	$175,514.82	0.37%
Globus Medical, Inc. (Class A)	GMED	379577208	Health Care	1,955	$178,256.90	0.37%
The RMR Group Inc. (Class A)	RMR	74967R106	Real Estate	11,752	$176,280.00	0.37%
Virtus Investment Partners, Inc.	VRTS	92828Q109	Financials	1,099	$175,982.87	0.37%
Ziff Davis, Inc.	ZD	48123V102	Communication Services	5,334	$174,101.76	0.37%
Arcutis Biotherapeutics, Inc.	ARQT	03969K108	Health Care	5,498	$168,953.54	0.36%
Boise Cascade Company	BCC	09739D100	Industrials	2,247	$169,513.68	0.36%
OneSpan Inc.	OSPN	68287N100	Information Technology	14,188	$173,377.36	0.36%
Universal Insurance Holdings, Inc.	UVE	91359V107	Financials	5,167	$171,854.42	0.36%
CompoSecure, Inc. (Class A)	CMPO	20459V105	Information Technology	8,424	$164,604.96	0.35%
Essent Group Ltd.	ESNT	G3198U102	Financials	2,624	$165,469.44	0.35%
Innoviva, Inc.	INVA	45781M101	Health Care	7,756	$168,460.32	0.35%
National HealthCare Corporation	NHC	635906100	Health Care	1,224	$168,850.80	0.35%
National Vision Holdings, Inc.	EYE	63845R107	Consumer Discretionary	5,805	$164,862.00	0.35%
Sabra Health Care REIT, Inc.	SBRA	78573L106	Real Estate	8,794	$166,558.36	0.35%
Signet Jewelers Limited	SIG	G81276100	Consumer Discretionary	1,664	$166,266.88	0.35%
Sprouts Farmers Market, Inc.	SFM	85208M102	Consumer Staples	2,039	$165,138.61	0.35%
Ardmore Shipping Corporation	ASC	Y0207T100	Energy	12,972	$162,279.72	0.34%
Civitas Resources, Inc.	CIVI	17888H103	Energy	5,759	$161,309.59	0.34%
Dave Inc. (Class A)	DAVE	23834J201	Financials	768	$161,510.40	0.34%
ESCO Technologies Inc.	ESE	296315104	Industrials	737	$160,245.91	0.34%
Innovative Industrial Properties, Inc.	IIPR	45781V101	Real Estate	3,287	$160,997.26	0.34%
Acadian Asset Management Inc.	AAMI	10948W103	Financials	3,456	$155,139.84	0.33%
Adaptive Biotechnologies Corporation	ADPT	00650F109	Health Care	7,832	$159,146.24	0.33%
Cavco Industries, Inc.	CVCO	149568107	Consumer Discretionary	260	$155,157.60	0.33%
Par Pacific Holdings, Inc.	PARR	69888T207	Energy	3,450	$155,250.00	0.33%
Trustmark Corporation	TRMK	898402102	Financials	4,050	$158,760.00	0.33%
CRA International, Inc.	CRAI	12618T105	Industrials	870	$154,372.80	0.32%
Otter Tail Corporation	OTTR	689648103	Utilities	1,865	$152,482.40	0.32%
Peabody Energy Corporation	BTU	704551100	Energy	5,661	$150,469.38	0.32%
Teradata Corporation	TDC	88076W103	Information Technology	5,272	$150,252.00	0.32%
TG Therapeutics, Inc.	TGTX	88322Q108	Health Care	4,679	$154,313.42	0.32%
H&R Block, Inc.	HRB	093671105	Consumer Discretionary	3,522	$147,712.68	0.31%
Urban Outfitters, Inc.	URBN	917047102	Consumer Discretionary	2,149	$146,798.19	0.31%
Academy Sports and Outdoors, Inc.	ASO	00402L107	Consumer Discretionary	3,079	$143,389.03	0.30%
ACADIA Pharmaceuticals Inc.	ACAD	004225108	Health Care	5,910	$144,144.90	0.30%
Adtalem Global Education Inc.	ATGE	00737L103	Consumer Discretionary	1,597	$143,107.17	0.30%
Bread Financial Holdings, Inc.	BFH	018581108	Financials	2,169	$144,824.13	0.30%
Daktronics, Inc.	DAKT	234264109	Information Technology	7,540	$143,637.00	0.30%
Ennis, Inc.	EBF	293389102	Industrials	8,268	$143,532.48	0.30%
ExlService Holdings, Inc.	EXLS	302081104	Industrials	3,587	$142,547.38	0.30%
HCI Group, Inc.	HCI	40416E103	Financials	815	$143,114.00	0.30%
Hims & Hers Health, Inc.	HIMS	433000106	Health Care	3,815	$141,498.35	0.30%
Indivior Plc	INDV	G4766E116	Health Care	4,314	$142,793.40	0.30%
Lantheus Holdings, Inc.	LNTH	516544103	Health Care	2,446	$144,460.76	0.30%
M/I Homes, Inc.	MHO	55305B101	Consumer Discretionary	1,028	$140,949.08	0.30%
Mueller Industries, Inc.	MLI	624756102	Industrials	1,314	$144,316.62	0.30%
Seneca Foods Corporation	SENEA	817070501	Consumer Staples	1,111	$142,008.02	0.30%
SunCoke Energy, Inc.	SXC	86722A103	Materials	22,334	$144,947.66	0.30%
Super Group (SGHC) Limited	SGHC	G8588X103	Consumer Discretionary	12,038	$141,085.36	0.30%
CorMedix Inc.	CRMD	21900C308	Health Care	14,426	$135,604.40	0.29%
GigaCloud Technology Inc (Class A)	GCT	G38644103	Consumer Discretionary	3,805	$139,947.90	0.29%
Mirum Pharmaceuticals, Inc.	MIRM	604749101	Health Care	1,902	$136,487.52	0.29%
Patria Investments Limited (Class A)	PAX	G69451105	Financials	9,670	$139,441.40	0.29%
PJT Partners Inc. (Class A)	PJT	69343T107	Financials	804	$136,792.56	0.29%
SIGA Technologies, Inc.	SIGA	826917106	Health Care	23,529	$139,997.55	0.29%
Cimpress Plc	CMPR	G2143T103	Industrials	1,925	$135,500.75	0.28%
Esquire Financial Holdings, Inc.	ESQ	29667J101	Financials	1,275	$132,255.75	0.28%
Grand Canyon Education, Inc.	LOPE	38526M106	Consumer Discretionary	868	$134,735.34	0.28%
Green Brick Partners, Inc.	GRBK	392709101	Consumer Discretionary	1,926	$130,871.70	0.28%
Harmony Biosciences Holdings, Inc.	HRMY	413197104	Health Care	3,704	$130,899.36	0.28%
Home BancShares, Inc.	HOMB	436893200	Financials	4,750	$134,900.00	0.28%
Hudson Technologies, Inc.	HDSN	444144109	Industrials	19,265	$131,194.65	0.28%
International Bancshares Corporation	IBOC	459044103	Financials	1,999	$133,713.11	0.28%
Kohl's Corporation	KSS	500255104	Consumer Discretionary	6,029	$135,170.18	0.28%
LivaNova Plc	LIVN	G5509L101	Health Care	2,127	$134,660.37	0.28%
Photronics, Inc.	PLAB	719405102	Information Technology	5,810	$132,293.70	0.28%
Supernus Pharmaceuticals, Inc.	SUPN	868459108	Health Care	2,903	$133,770.24	0.28%
The Andersons, Inc.	ANDE	034164103	Consumer Staples	2,582	$131,527.08	0.28%
UFP Technologies, Inc.	UFPT	902673102	Health Care	585	$134,397.90	0.28%
United States Lime & Minerals, Inc.	USLM	911922102	Materials	1,070	$131,898.90	0.28%
ACI Worldwide, Inc.	ACIW	004498101	Information Technology	2,682	$126,644.04	0.27%
Hallador Energy Company	HNRG	40609P105	Utilities	6,429	$126,329.85	0.27%
Independent Bank Corp.	INDB	453836108	Financials	1,759	$129,726.25	0.27%
Ingles Markets, Incorporated	IMKTA	457030104	Consumer Staples	1,656	$127,528.56	0.27%
Krystal Biotech, Inc.	KRYS	501147102	Health Care	588	$127,578.36	0.27%
Nicolet Bankshares, Inc.	NIC	65406E102	Financials	1,014	$128,534.64	0.27%
PVH Corp.	PVH	693656100	Consumer Discretionary	1,590	$130,427.70	0.27%
S&T Bancorp, Inc.	STBA	783859101	Financials	3,155	$128,187.65	0.27%
Scholastic Corporation	SCHL	807066105	Communication Services	4,324	$128,876.86	0.27%
Simulations Plus, Inc.	SLP	829214105	Health Care	7,633	$130,753.29	0.27%
The Buckle, Inc.	BKE	118440106	Consumer Discretionary	2,285	$128,896.85	0.27%
ANI Pharmaceuticals, Inc.	ANIP	00182C103	Health Care	1,467	$122,083.74	0.26%
DHT Holdings, Inc.	DHT	Y2065G121	Energy	9,550	$124,436.50	0.26%
Dorian LPG Ltd.	LPG	Y2106R110	Energy	5,062	$125,233.88	0.26%
Metropolitan Bank Holding Corp.	MCB	591774104	Financials	1,614	$121,534.20	0.26%
NetScout Systems, Inc.	NTCT	64115T104	Information Technology	4,633	$124,349.72	0.26%
SkyWest, Inc.	SKYW	830879102	Industrials	1,222	$121,393.48	0.26%
Tootsie Roll Industries, Inc.	TR	890516107	Consumer Staples	3,192	$124,934.88	0.26%
Universal Technical Institute, Inc.	UTI	913915104	Consumer Discretionary	5,340	$122,339.40	0.26%
Adient Plc	ADNT	G0084W101	Consumer Discretionary	6,030	$117,765.90	0.25%
ConnectOne Bancorp, Inc.	CNOB	20786W107	Financials	4,611	$117,442.17	0.25%
First Interstate BancSystem, Inc.	FIBK	32055Y201	Financials	3,651	$120,957.63	0.25%
InMode Ltd.	INMD	M5425M103	Health Care	8,562	$120,981.06	0.25%
OFG Bancorp	OFG	67103X102	Financials	3,013	$120,971.95	0.25%
Sapiens International Corporation N.V.	SPNS	G7T16G103	Information Technology	2,783	$120,086.45	0.25%
TripAdvisor, Inc.	TRIP	896945201	Communication Services	7,955	$120,836.45	0.25%
Cars.com Inc.	CARS	14575E105	Communication Services	9,934	$116,525.82	0.24%
Cinemark Holdings, Inc.	CNK	17243V102	Communication Services	4,121	$115,346.79	0.24%
Highwoods Properties, Inc.	HIW	431284108	Real Estate	4,071	$112,196.76	0.24%
Hub Group, Inc.	HUBG	443320106	Industrials	3,009	$115,304.88	0.24%
IDT Corporation (Class B)	IDT	448947507	Communication Services	2,237	$112,028.96	0.24%
Park National Corporation	PRK	700658107	Financials	731	$115,315.25	0.24%
Pitney Bowes Inc.	PBI	724479100	Industrials	11,667	$115,503.30	0.24%
TriMas Corporation	TRS	896215209	Materials	3,434	$114,180.50	0.24%
Willdan Group, Inc.	WLDN	96924N100	Industrials	1,156	$114,906.40	0.24%
Xometry, Inc. (Class A)	XMTR	98423F109	Industrials	1,983	$114,379.44	0.24%
Abercrombie & Fitch Co. (Class A)	ANF	002896207	Consumer Discretionary	1,221	$110,183.04	0.23%
Badger Meter, Inc.	BMI	056525108	Information Technology	598	$109,194.80	0.23%
MasterBrand, Inc.	MBC	57638P104	Industrials	9,983	$109,813.00	0.23%
OceanFirst Financial Corp.	OCFC	675234108	Financials	5,851	$110,993.47	0.23%
Radian Group Inc.	RDN	750236101	Financials	3,051	$108,463.05	0.23%
Rigel Pharmaceuticals, Inc.	RIGL	766559702	Health Care	2,212	$109,626.72	0.23%
Terex Corporation	TEX	880779103	Industrials	2,341	$107,311.44	0.23%
AMC Networks Inc. (Class A)	AMCX	00164V103	Communication Services	11,892	$106,195.56	0.22%
Certara, Inc.	CERT	15687V109	Health Care	11,319	$103,229.28	0.22%
DNOW Inc.	DNOW	67011P100	Industrials	7,390	$103,016.60	0.22%
nLight, Inc.	LASR	65487K100	Information Technology	3,165	$105,236.25	0.22%
Omnicell, Inc.	OMCL	68213N109	Health Care	2,836	$104,932.00	0.22%
Q2 Holdings, Inc.	QTWO	74736L109	Information Technology	1,427	$103,728.63	0.22%
Universal Corporation	UVV	913456109	Consumer Staples	2,003	$105,818.49	0.22%
US Dollar	$USD		Other	106,887	$106,887.08	0.22%
Virtu Financial, Inc. (Class A)	VIRT	928254101	Financials	2,970	$103,059.00	0.22%
A10 Networks, Inc.	ATEN	002121101	Information Technology	5,830	$99,518.10	0.21%
Amalgamated Financial Corp.	AMAL	022671101	Financials	3,361	$101,132.49	0.21%
American Eagle Outfitters, Inc.	AEO	02553E106	Consumer Discretionary	5,080	$99,872.80	0.21%
Peoples Bancorp Inc.	PEBO	709789101	Financials	3,396	$101,676.24	0.21%
Victory Capital Holdings, Inc. (Class A)	VCTR	92645B103	Financials	1,551	$97,852.59	0.21%
Vitesse Energy, Inc.	VTS	92852X103	Energy	4,718	$98,370.30	0.21%
ACM Research, Inc. (Class A)	ACMR	00108J109	Information Technology	2,929	$96,949.90	0.20%
Apogee Enterprises, Inc.	APOG	037598109	Industrials	2,611	$93,943.78	0.20%
Astrana Health Inc.	ASTH	03763A207	Health Care	4,074	$94,598.28	0.20%
Barrett Business Services, Inc.	BBSI	068463108	Industrials	2,733	$96,966.84	0.20%
Chord Energy Corporation	CHRD	674215207	Energy	1,040	$95,555.20	0.20%
CommScope Holding Company, Inc.	COMM	20337X109	Information Technology	4,920	$95,398.80	0.20%
EverQuote, Inc. (Class A)	EVER	30041R108	Communication Services	3,592	$92,853.20	0.20%
Heritage Insurance Holdings, Inc.	HRTG	42727J102	Financials	3,349	$96,518.18	0.20%
LeMaitre Vascular, Inc.	LMAT	525558201	Health Care	1,127	$94,093.23	0.20%
MillerKnoll Inc.	MLKN	600544100	Industrials	5,918	$94,037.02	0.20%
Sun Country Airlines Holdings, Inc.	SNCY	866683105	Industrials	7,059	$93,249.39	0.20%
Cathay General Bancorp	CATY	149150104	Financials	1,821	$89,684.25	0.19%
Ethan Allen Interiors Inc.	ETD	297602104	Consumer Discretionary	3,796	$89,547.64	0.19%
Brady Corporation	BRC	104674106	Industrials	1,053	$85,050.81	0.18%
Caleres, Inc.	CAL	129500104	Consumer Discretionary	7,354	$85,674.10	0.18%
CorVel Corporation	CRVL	221006109	Health Care	1,179	$87,635.07	0.18%
Helen of Troy Limited	HELE	G4388N106	Consumer Discretionary	4,552	$85,850.72	0.18%
Intapp, Inc.	INTA	45827U109	Information Technology	2,076	$87,046.68	0.18%
Ligand Pharmaceuticals Inc. (Class B)	LGND	53220K504	Health Care	415	$84,460.80	0.18%
PC Connection, Inc.	CNXN	69318J100	Information Technology	1,457	$85,132.51	0.18%
Avista Corporation	AVA	05379B107	Utilities	2,003	$82,643.78	0.17%
FirstCash Holdings, Inc.	FCFS	33768G107	Financials	518	$80,098.34	0.17%
Healthcare Services Group, Inc.	HCSG	421906108	Industrials	4,412	$83,210.32	0.17%
Penguin Solutions Inc.	PENG	706915105	Information Technology	4,349	$82,761.47	0.17%
PriceSmart, Inc.	PSMT	741511109	Consumer Staples	649	$81,559.83	0.17%
BioCryst Pharmaceuticals, Inc.	BCRX	09058V103	Health Care	11,342	$77,692.70	0.16%
Hyster-Yale, Inc.	HY	449172105	Industrials	2,514	$73,886.46	0.16%
Rush Street Interactive, Inc.	RSI	782011100	Consumer Discretionary	4,261	$77,251.93	0.16%
DXC Technology Company	DXC	23355L106	Information Technology	5,361	$70,014.66	0.15%
Kelly Services, Inc.	KELYA	488152208	Industrials	8,556	$72,982.68	0.15%
Sezzle Inc.	SEZL	78435P105	Financials	1,281	$72,005.01	0.15%
Watts Water Technologies, Inc.	WTS	942749102	Industrials	251	$69,730.31	0.15%
Hancock Whitney Corporation	HWC	410120109	Financials	1,112	$67,576.24	0.14%
SITE Centers Corp.	SITC	82981J851	Real Estate	8,710	$64,366.90	0.14%
USANA Health Sciences, Inc.	USNA	90328M107	Consumer Staples	3,399	$67,300.20	0.14%
Alarm.com Holdings, Inc.	ALRM	011642105	Information Technology	1,156	$60,678.44	0.13%
AMN Healthcare Services, Inc.	AMN	001744101	Health Care	3,443	$60,218.07	0.13%
Medifast, Inc.	MED	58470H101	Consumer Staples	5,884	$64,194.44	0.13%
Sally Beauty Holdings, Inc.	SBH	79546E104	Consumer Discretionary	3,894	$62,265.06	0.13%
Wolverine World Wide, Inc.	WWW	978097103	Consumer Discretionary	3,572	$57,366.32	0.12%
Yext, Inc.	YEXT	98585N106	Information Technology	6,811	$57,552.95	0.12%
Concentrix Corporation	CNXC	20602D101	Industrials	1,455	$52,001.70	0.11%
ePlus inc.	PLUS	294268107	Information Technology	571	$51,772.57	0.11%
Eton Pharmaceuticals, Inc.	ETON	29772L108	Health Care	3,250	$52,910.00	0.11%
MAXIMUS, Inc.	MMS	577933104	Industrials	601	$52,070.64	0.11%
Murphy Oil Corporation	MUR	626717102	Energy	1,604	$49,964.60	0.11%
Pagaya Technologies Ltd. (Class A)	PGY	M7S64L123	Information Technology	2,285	$54,520.10	0.11%
Taylor Morrison Home Corporation	TMHC	87724P106	Consumer Discretionary	832	$51,783.68	0.11%
Angi Inc. (Class A)	ANGI	00183L201	Communication Services	4,163	$47,583.09	0.10%
Central Pacific Financial Corp.	CPF	154760409	Financials	1,532	$46,680.04	0.10%
Deluxe Corporation	DLX	248019101	Industrials	2,285	$46,796.80	0.10%
Kennametal Inc.	KMT	489170100	Industrials	1,742	$48,427.60	0.10%
LiveRamp Holdings, Inc.	RAMP	53815P108	Information Technology	1,675	$49,596.75	0.10%
Axogen, Inc.	AXGN	05463X106	Health Care	1,573	$44,547.36	0.09%
NMI Holdings, Inc. (Class A)	NMIH	629209305	Financials	1,121	$42,900.67	0.09%
Power Solutions International, Inc.	PSIX	73933G202	Industrials	810	$43,983.00	0.09%
ThredUp Inc. (Class A)	TDUP	88556E102	Consumer Discretionary	5,943	$44,988.51	0.09%
Phreesia Inc.	PHR	71944F106	Health Care	1,801	$37,136.62	0.08%
The Western Union Company	WU	959802109	Financials	4,380	$37,755.60	0.08%
acuity	AYI	00508Y102	Industrials	97	$35,306.06	0.07%
Aurinia Pharmaceuticals Inc.	AUPH	05156V102	Health Care	2,096	$34,122.88	0.07%
Carter's, Inc.	CRI	146229109	Consumer Discretionary	1,042	$32,510.40	0.07%
Groupon, Inc.	GRPN	399473206	Consumer Discretionary	2,116	$34,892.84	0.07%
International Seaways, Inc.	INSW	Y41053102	Energy	605	$32,573.20	0.07%
Kontoor Brands, Inc.	KTB	50050N103	Consumer Discretionary	481	$35,444.89	0.07%
MDU Resources Group, Inc.	MDU	552690109	Utilities	1,543	$32,649.88	0.07%
Zurn Elkay Water Solutions Corp.	ZWS	98983L108	Industrials	695	$33,373.90	0.07%
ASGN Incorporated	ASGN	00191U102	Information Technology	633	$28,864.80	0.06%
Graham Holdings Company	GHC	384637104	Consumer Discretionary	27	$29,403.00	0.06%
Harrow, Inc.	HROW	415858109	Health Care	735	$30,149.70	0.06%
Limbach Holdings, Inc.	LMB	53263P105	Industrials	443	$30,584.72	0.06%
Option Care Health, Inc.	OPCH	68404L201	Health Care	969	$30,252.18	0.06%
Addus HomeCare Corporation	ADUS	006739106	Health Care	185	$22,290.65	0.05%
Artisan Partners Asset Management Inc. (Class A)	APAM	04316A108	Financials	597	$24,835.20	0.05%
CarGurus, Inc.	CARG	141788109	Communication Services	698	$25,141.96	0.05%
First Hawaiian, Inc.	FHB	32051X108	Financials	977	$24,747.41	0.05%
Fresh Del Monte Produce Inc.	FDP	G36738105	Consumer Staples	642	$22,797.42	0.05%
Frontdoor, Inc.	FTDR	35905A109	Consumer Discretionary	435	$23,463.90	0.05%
Garrett Motion Inc.	GTX	366505105	Consumer Discretionary	1,385	$22,894.05	0.05%
Glaukos Corporation	GKOS	377322102	Health Care	238	$24,835.30	0.05%
Griffon Corporation	GFF	398433102	Industrials	331	$24,950.78	0.05%
Heritage Financial Corporation	HFWA	42722X106	Financials	1,032	$25,253.04	0.05%
Magnolia Oil & Gas Corporation (Class A)	MGY	559663109	Energy	1,026	$23,567.22	0.05%
Main Street Capital Corporation	MAIN	56035L104	Financials	417	$23,839.89	0.05%
ManpowerGroup Inc.	MAN	56418H100	Industrials	852	$24,128.64	0.05%
Movado Group, Inc.	MOV	624580106	Consumer Discretionary	1,103	$22,754.89	0.05%
SI-BONE, Inc.	SIBN	825704109	Health Care	1,199	$23,584.33	0.05%
Adeia Inc.	ADEA	00676P107	Information Technology	1,491	$18,413.85	0.04%
Alamo Group Inc.	ALG	011311107	Industrials	109	$17,836.76	0.04%
Apple Hospitality REIT, Inc.	APLE	03784Y200	Real Estate	1,746	$20,952.00	0.04%
Avnet, Inc.	AVT	053807103	Information Technology	399	$18,828.81	0.04%
HNI Corporation	HNI	404251100	Industrials	430	$17,750.40	0.04%
Janus International Group, Inc.	JBI	47103N106	Industrials	3,010	$18,601.80	0.04%
Owens & Minor, Inc.	OMI	690732102	Health Care	6,562	$18,045.50	0.04%
Park Hotels & Resorts Inc.	PK	700517105	Real Estate	1,950	$21,118.50	0.04%
Weis Markets, Inc.	WMK	948849104	Consumer Staples	321	$21,089.70	0.04%
Yelp Inc.	YELP	985817105	Communication Services	591	$17,363.58	0.04%
Avanos Medical, Inc.	AVNS	05350V106	Health Care	1,208	$14,459.76	0.03%
Interparfums, Inc.	IPAR	458334109	Consumer Staples	166	$13,331.46	0.03%
The Hackett Group, Inc.	HCKT	404609109	Information Technology	823	$15,348.95	0.03%
Upbound Group Inc.	UPBD	76009N100	Consumer Discretionary	674	$12,293.76	0.03%
BancFirst Corporation	BANF	05945F103	Financials	38	$4,301.60	0.01%
Standard Motor Products, Inc.	SMP	853666105	Consumer Discretionary	178	$6,808.50	0.01%
OmniAb Inc. 12.50 Earnout	2200963D	68218J202	Health Care	53	$0.00	0.00%
OmniAb Inc. 15.00 Earnout	2200964D	68218J301	Health Care	53	$0.00	0.00%

Holdings are subject to change.

The holdings information set forth above for the date indicated reflects creation and redemption transactions from the prior business day and may differ from the holdings information currently available from the Fund's custodian and accounting agent. With respect to the market value of the Fund's holdings set forth above, the pricing sources are generally third party vendors. The Fund ultimately relies on pricing information provided by the Fund's accounting agent.