First Trust Active Factor Small Cap ETF (AFSM)

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Holdings

Holdings of the Fund as of 3/28/2025

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Total Number of Holdings (excluding cash): 329

Security Name	Identifier	CUSIP	Classification	Shares / Quantity	Market Value	Weighting
InterDigital, Inc.	IDCC	45867G101	Information Technology	1,908	$400,756.32	1.26%
Catalyst Pharmaceuticals, Inc.	CPRX	14888U101	Health Care	15,625	$385,781.25	1.21%
Corcept Therapeutics Inc.	CORT	218352102	Health Care	6,823	$372,740.49	1.17%
Carpenter Technology Corporation	CRS	144285103	Materials	1,910	$346,244.80	1.09%
The Bancorp, Inc.	TBBK	05969A105	Financials	6,170	$324,480.30	1.02%
Halozyme Therapeutics, Inc.	HALO	40637H109	Health Care	4,785	$305,474.40	0.96%
Alkermes Plc	ALKS	G01767105	Health Care	9,012	$299,288.52	0.94%
SkyWest, Inc.	SKYW	830879102	Industrials	3,376	$299,653.76	0.94%
Sprouts Farmers Market, Inc.	SFM	85208M102	Consumer Staples	2,030	$299,942.66	0.94%
Archrock, Inc.	AROC	03957W106	Energy	10,580	$279,735.20	0.88%
ADMA Biologics, Inc.	ADMA	000899104	Health Care	13,521	$273,935.46	0.86%
Preferred Bank	PFBC	740367404	Financials	3,271	$274,698.58	0.86%
Mueller Industries, Inc.	MLI	624756102	Industrials	3,449	$264,158.91	0.83%
Brinker International, Inc.	EAT	109641100	Consumer Discretionary	1,650	$243,523.50	0.77%
H&R Block, Inc.	HRB	093671105	Consumer Discretionary	4,375	$236,687.50	0.74%
TG Therapeutics, Inc.	TGTX	88322Q108	Health Care	5,941	$236,808.26	0.74%
Clear Secure, Inc. (Class A)	YOU	18467V109	Information Technology	8,680	$230,454.00	0.72%
Commvault Systems, Inc.	CVLT	204166102	Information Technology	1,417	$229,525.66	0.72%
Applied Industrial Technologies, Inc.	AIT	03820C105	Industrials	987	$222,598.11	0.70%
CorVel Corporation	CRVL	221006109	Health Care	1,959	$218,154.24	0.69%
MGIC Investment Corporation	MTG	552848103	Financials	8,851	$215,964.40	0.68%
Boise Cascade Company	BCC	09739D100	Industrials	2,157	$212,033.10	0.67%
Daktronics, Inc.	DAKT	234264109	Information Technology	17,618	$212,120.72	0.67%
The Bank of N.T. Butterfield & Son Limited	NTB	G0772R208	Financials	5,496	$212,585.28	0.67%
Sanmina Corporation	SANM	801056102	Information Technology	2,737	$209,791.05	0.66%
TEGNA Inc.	TGNA	87901J105	Communication Services	11,517	$208,342.53	0.66%
Cal-Maine Foods, Inc.	CALM	128030202	Consumer Staples	2,273	$206,865.73	0.65%
Grindr Inc.	GRND	39854F101	Communication Services	11,691	$207,281.43	0.65%
Mueller Water Products, Inc.	MWA	624758108	Industrials	8,134	$207,498.34	0.65%
Badger Meter, Inc.	BMI	056525108	Information Technology	1,068	$203,144.28	0.64%
Enact Holdings, Inc.	ACT	29249E109	Financials	5,910	$203,304.00	0.64%
National Health Investors, Inc.	NHI	63633D104	Real Estate	2,707	$202,212.90	0.64%
Hawkins, Inc.	HWKN	420261109	Materials	1,877	$199,224.78	0.63%
First Financial Corporation	THFF	320218100	Financials	3,890	$190,960.10	0.60%
Intapp, Inc.	INTA	45827U109	Information Technology	3,159	$189,255.69	0.60%
Universal Insurance Holdings, Inc.	UVE	91359V107	Financials	8,217	$191,784.78	0.60%
Blue Bird Corporation	BLBD	095306106	Industrials	5,703	$187,799.79	0.59%
Coca-Cola Consolidated, Inc.	COKE	191098102	Consumer Staples	140	$186,228.00	0.59%
Dorman Products, Inc.	DORM	258278100	Consumer Discretionary	1,548	$186,859.08	0.59%
Lantheus Holdings, Inc.	LNTH	516544103	Health Care	1,957	$188,185.12	0.59%
BellRing Brands, Inc.	BRBR	07831C103	Consumer Staples	2,477	$183,743.86	0.58%
Teekay Tankers Ltd. (Class A)	TNK	G8726X106	Energy	4,807	$185,934.76	0.58%
City Holding Company	CHCO	177835105	Financials	1,534	$180,245.00	0.57%
Academy Sports and Outdoors, Inc.	ASO	00402L107	Consumer Discretionary	3,856	$177,645.92	0.56%
Hims & Hers Health, Inc.	HIMS	433000106	Health Care	6,163	$179,589.82	0.56%
Excelerate Energy, Inc. (Class A)	EE	30069T101	Energy	6,264	$175,329.36	0.55%
National HealthCare Corporation	NHC	635906100	Health Care	1,848	$170,773.68	0.54%
G-III Apparel Group, Ltd.	GIII	36237H101	Consumer Discretionary	6,122	$166,640.84	0.52%
PHINIA Inc.	PHIN	71880K101	Consumer Discretionary	3,839	$165,460.90	0.52%
Radian Group Inc.	RDN	750236101	Financials	5,040	$165,412.80	0.52%
S&T Bancorp, Inc.	STBA	783859101	Financials	4,471	$166,187.07	0.52%
United States Lime & Minerals, Inc.	USLM	911922102	Materials	1,856	$165,388.16	0.52%
Bel Fuse Inc. (Class B)	BELFB	077347300	Information Technology	2,163	$160,494.60	0.50%
Perdoceo Education Corporation	PRDO	71363P106	Consumer Discretionary	6,241	$158,708.63	0.50%
DXC Technology Company	DXC	23355L106	Information Technology	9,075	$155,001.00	0.49%
Ingles Markets, Incorporated	IMKTA	457030104	Consumer Staples	2,458	$156,795.82	0.49%
Northeast Community Bancorp, Inc.	NECB	664121100	Financials	6,666	$155,984.40	0.49%
EMCOR Group, Inc.	EME	29084Q100	Industrials	414	$153,540.18	0.48%
Pacira BioSciences, Inc.	PCRX	695127100	Health Care	6,174	$153,794.34	0.48%
DXP Enterprises, Inc.	DXPE	233377407	Industrials	1,814	$150,344.32	0.47%
Hudson Technologies, Inc.	HDSN	444144109	Industrials	24,166	$149,345.88	0.47%
Comfort Systems USA, Inc.	FIX	199908104	Industrials	449	$145,525.39	0.46%
GeneDx Holdings Corp.	WGS	81663L200	Health Care	1,575	$145,215.00	0.46%
Core Natural Resources Inc.	CNR	218937100	Energy	1,840	$141,845.60	0.45%
SunCoke Energy, Inc.	SXC	86722A103	Materials	15,714	$143,468.82	0.45%
Sylvamo Corporation	SLVM	871332102	Materials	2,145	$144,144.00	0.45%
The Buckle, Inc.	BKE	118440106	Consumer Discretionary	3,776	$143,412.48	0.45%
Universal Technical Institute, Inc.	UTI	913915104	Consumer Discretionary	5,694	$144,399.84	0.45%
Pathward Financial Inc.	CASH	59100U108	Financials	1,864	$135,550.08	0.43%
Premier, Inc. (Class A)	PINC	74051N102	Health Care	7,021	$134,381.94	0.42%
Stride, Inc.	LRN	86333M108	Consumer Discretionary	1,052	$132,762.40	0.42%
Nu Skin Enterprises, Inc. (Class A)	NUS	67018T105	Consumer Staples	18,112	$130,768.64	0.41%
Terex Corporation	TEX	880779103	Industrials	3,408	$131,139.84	0.41%
PC Connection, Inc.	CNXN	69318J100	Information Technology	2,076	$128,566.68	0.40%
Progyny, Inc.	PGNY	74340E103	Health Care	5,761	$126,165.90	0.40%
The RMR Group Inc. (Class A)	RMR	74967R106	Real Estate	7,690	$128,423.00	0.40%
CSW Industrials, Inc.	CSWI	126402106	Industrials	425	$123,330.75	0.39%
Macy's, Inc.	M	55616P104	Consumer Discretionary	9,710	$124,385.10	0.39%
Blueprint Medicines Corporation	BPMC	09627Y109	Health Care	1,380	$122,433.60	0.38%
CRA International, Inc.	CRAI	12618T105	Industrials	688	$119,299.20	0.38%
Essent Group Ltd.	ESNT	G3198U102	Financials	2,121	$121,639.35	0.38%
Grand Canyon Education, Inc.	LOPE	38526M106	Consumer Discretionary	683	$119,484.02	0.38%
Heidrick & Struggles International, Inc.	HSII	422819102	Industrials	2,785	$121,091.80	0.38%
Huron Consulting Group Inc.	HURN	447462102	Industrials	859	$122,235.70	0.38%
Sabra Health Care REIT, Inc.	SBRA	78573L106	Real Estate	6,806	$119,377.24	0.38%
Ames National Corporation	ATLO	031001100	Financials	6,619	$117,222.49	0.37%
Krystal Biotech, Inc.	KRYS	501147102	Health Care	633	$116,421.36	0.37%
Hyster-Yale, Inc.	HY	449172105	Industrials	2,743	$114,821.98	0.36%
Kiniksa Pharmaceuticals International, Plc (Class A)	KNSA	G52694109	Health Care	4,897	$113,071.73	0.36%
NMI Holdings, Inc. (Class A)	NMIH	629209305	Financials	3,153	$113,508.00	0.36%
REV Group, Inc.	REVG	749527107	Industrials	3,574	$114,653.92	0.36%
Supernus Pharmaceuticals, Inc.	SUPN	868459108	Health Care	3,498	$112,950.42	0.36%
Verint Systems Inc.	VRNT	92343X100	Information Technology	6,480	$115,668.00	0.36%
Carvana Co. (Class A)	CVNA	146869102	Consumer Discretionary	545	$111,403.45	0.35%
Medifast, Inc.	MED	58470H101	Consumer Staples	8,024	$110,971.92	0.35%
Primo Brands Corporation (Class A)	PRMB	741623102	Consumer Staples	3,193	$112,712.90	0.35%
Virtu Financial, Inc. (Class A)	VIRT	928254101	Financials	2,973	$112,260.48	0.35%
ACI Worldwide, Inc.	ACIW	004498101	Information Technology	1,970	$106,931.60	0.34%
ExlService Holdings, Inc.	EXLS	302081104	Industrials	2,329	$108,997.20	0.34%
Fresh Del Monte Produce Inc.	FDP	G36738105	Consumer Staples	3,533	$107,367.87	0.34%
Globus Medical, Inc. (Class A)	GMED	379577208	Health Care	1,500	$108,825.00	0.34%
Mr. Cooper Group Inc.	COOP	62482R107	Financials	1,043	$108,983.07	0.34%
Trustmark Corporation	TRMK	898402102	Financials	3,198	$109,691.40	0.34%
American Healthcare REIT, Inc.	AHR	398182303	Real Estate	3,426	$104,253.18	0.33%
ANI Pharmaceuticals, Inc.	ANIP	00182C103	Health Care	1,556	$105,201.16	0.33%
Atkore Inc.	ATKR	047649108	Industrials	1,755	$106,335.45	0.33%
Federated Hermes, Inc. (Class B)	FHI	314211103	Financials	2,597	$105,671.93	0.33%
Jackson Financial Inc. (Class A)	JXN	46817M107	Financials	1,270	$105,575.10	0.33%
M/I Homes, Inc.	MHO	55305B101	Consumer Discretionary	921	$104,496.66	0.33%
Medpace Holdings, Inc.	MEDP	58506Q109	Health Care	338	$105,577.68	0.33%
Peoples Bancorp of North Carolina, Inc.	PEBK	710577107	Financials	3,827	$104,898.07	0.33%
TXNM Energy Inc.	TXNM	69349H107	Utilities	1,932	$103,516.56	0.33%
Adient Plc	ADNT	G0084W101	Consumer Discretionary	7,911	$101,339.91	0.32%
Adtalem Global Education Inc.	ATGE	00737L103	Consumer Discretionary	1,000	$102,100.00	0.32%
Hamilton Insurance Group, Ltd. (Class B)	HG	G42706104	Financials	4,825	$102,965.50	0.32%
MGE Energy, Inc.	MGEE	55277P104	Utilities	1,101	$102,293.91	0.32%
Otter Tail Corporation	OTTR	689648103	Utilities	1,269	$102,446.37	0.32%
Taylor Morrison Home Corporation	TMHC	87724P106	Consumer Discretionary	1,723	$103,345.54	0.32%
Broadstone Net Lease, Inc.	BNL	11135E203	Real Estate	5,900	$100,123.00	0.31%
Cavco Industries, Inc.	CVCO	149568107	Consumer Discretionary	192	$98,680.32	0.31%
InMode Ltd.	INMD	M5425M103	Health Care	5,660	$100,182.00	0.31%
ScanSource, Inc.	SCSC	806037107	Information Technology	2,883	$99,377.01	0.31%
StoneX Group Inc.	SNEX	861896108	Financials	1,279	$97,357.48	0.31%
Dole Plc	DOLE	G27907107	Consumer Staples	6,695	$96,474.95	0.30%
ESCO Technologies Inc.	ESE	296315104	Industrials	618	$96,099.00	0.30%
HCI Group, Inc.	HCI	40416E103	Financials	625	$94,043.75	0.30%
International Bancshares Corporation	IBOC	459044103	Financials	1,537	$96,400.64	0.30%
Kinetik Holdings Inc.	KNTK	02215L209	Energy	1,885	$96,587.40	0.30%
Moog Inc.	MOG/A	615394202	Industrials	557	$95,664.75	0.30%
OneSpan Inc.	OSPN	68287N100	Information Technology	6,142	$94,955.32	0.30%
Provident Financial Services, Inc.	PFS	74386T105	Financials	5,533	$94,448.31	0.30%
SPX Technologies	SPXC	78473E103	Industrials	725	$93,836.75	0.30%
Turning Point Brands, Inc.	TPB	90041L105	Consumer Staples	1,641	$96,523.62	0.30%
Addus HomeCare Corporation	ADUS	006739106	Health Care	951	$92,532.30	0.29%
Dave Inc. (Class A)	DAVE	23834J201	Financials	1,108	$93,681.40	0.29%
Highwoods Properties, Inc.	HIW	431284108	Real Estate	3,174	$92,744.28	0.29%
SIGA Technologies, Inc.	SIGA	826917106	Health Care	16,825	$93,378.75	0.29%
Tactile Systems Technology, Inc.	TCMD	87357P100	Health Care	7,089	$92,157.00	0.29%
UFP Technologies, Inc.	UFPT	902673102	Health Care	457	$91,089.24	0.29%
Urban Outfitters, Inc.	URBN	917047102	Consumer Discretionary	1,785	$91,891.80	0.29%
Acadia Realty Trust	AKR	004239109	Real Estate	4,291	$90,239.73	0.28%
Axsome Therapeutics, Inc.	AXSM	05464T104	Health Care	741	$87,830.73	0.28%
Barrett Business Services, Inc.	BBSI	068463108	Industrials	2,172	$89,508.12	0.28%
Dorian LPG Ltd.	LPG	Y2106R110	Energy	4,009	$90,202.50	0.28%
GMS Inc.	GMS	36251C103	Industrials	1,188	$87,650.64	0.28%
Independent Bank Corp.	INDB	453836108	Financials	1,392	$87,960.48	0.28%
John Wiley & Sons, Inc. (Class A)	WLY	968223206	Communication Services	2,022	$89,797.02	0.28%
Liquidity Services, Inc.	LQDT	53635B107	Industrials	2,869	$90,057.91	0.28%
Matson, Inc.	MATX	57686G105	Industrials	705	$89,577.30	0.28%
Mercury General Corporation	MCY	589400100	Financials	1,564	$87,849.88	0.28%
OFG Bancorp	OFG	67103X102	Financials	2,213	$89,051.12	0.28%
PJT Partners Inc. (Class A)	PJT	69343T107	Financials	666	$90,556.02	0.28%
Q2 Holdings, Inc.	QTWO	74736L109	Information Technology	1,113	$89,974.92	0.28%
The Andersons, Inc.	ANDE	034164103	Consumer Staples	2,044	$88,423.44	0.28%
Benchmark Electronics, Inc.	BHE	08160H101	Information Technology	2,175	$84,498.75	0.27%
Cohen & Steers, Inc.	CNS	19247A100	Financials	1,082	$85,001.92	0.27%
Eagle Bancorp, Inc.	EGBN	268948106	Financials	4,105	$85,507.15	0.27%
IES Holdings, Inc.	IESC	44951W106	Industrials	518	$86,335.06	0.27%
MillerKnoll Inc.	MLKN	600544100	Industrials	4,356	$86,074.56	0.27%
Mitek Systems, Inc.	MITK	606710200	Information Technology	10,151	$86,283.50	0.27%
Murphy USA Inc.	MUSA	626755102	Consumer Discretionary	185	$85,170.30	0.27%
NETGEAR, Inc.	NTGR	64111Q104	Information Technology	3,497	$86,445.84	0.27%
Park National Corporation	PRK	700658107	Financials	570	$86,947.80	0.27%
Patria Investments Limited (Class A)	PAX	G69451105	Financials	7,658	$87,224.62	0.27%
Perimeter Solutions, Inc.	PRM	71385M107	Materials	8,274	$85,222.20	0.27%
Vitesse Energy, Inc.	VTS	92852X103	Energy	3,464	$85,595.44	0.27%
Alpha Metallurgical Resources, Inc.	AMR	020764106	Materials	666	$84,242.34	0.26%
AppFolio, Inc. (Class A)	APPF	03783C100	Information Technology	374	$82,766.20	0.26%
Certara, Inc.	CERT	15687V109	Health Care	8,374	$82,986.34	0.26%
Digi International Inc.	DGII	253798102	Information Technology	2,877	$81,965.73	0.26%
ePlus inc.	PLUS	294268107	Information Technology	1,347	$83,419.71	0.26%
EPR Properties	EPR	26884U109	Real Estate	1,610	$83,237.00	0.26%
Ethan Allen Interiors Inc.	ETD	297602104	Consumer Discretionary	3,005	$82,727.65	0.26%
First Interstate BancSystem, Inc.	FIBK	32055Y201	Financials	2,890	$82,625.10	0.26%
PTC Therapeutics, Inc.	PTCT	69366J200	Health Care	1,500	$81,360.00	0.26%
Steelcase Inc.	SCS	858155203	Industrials	7,510	$83,361.00	0.26%
Titan International, Inc.	TWI	88830M102	Industrials	9,493	$81,449.94	0.26%
ACADIA Pharmaceuticals Inc.	ACAD	004225108	Health Care	4,623	$78,914.61	0.25%
CBL & Associates Properties, Inc.	CBL	124830878	Real Estate	2,964	$78,901.68	0.25%
Cinemark Holdings, Inc.	CNK	17243V102	Communication Services	3,212	$79,786.08	0.25%
Genco Shipping & Trading Limited	GNK	Y2685T131	Industrials	5,985	$79,959.60	0.25%
Golden Ocean Group Limited	GOGL	G39637205	Industrials	9,670	$80,841.20	0.25%
Hamilton Lane Incorporated (Class A)	HLNE	407497106	Financials	532	$78,246.56	0.25%
Interface, Inc.	TILE	458665304	Industrials	3,984	$78,684.00	0.25%
OceanFirst Financial Corp.	OCFC	675234108	Financials	4,632	$79,021.92	0.25%
Peoples Bancorp Inc.	PEBO	709789101	Financials	2,689	$80,051.53	0.25%
Ramaco Resources, Inc. (Class A)	METC	75134P600	Materials	9,559	$78,001.44	0.25%
Tarsus Pharmaceuticals, Inc.	TARS	87650L103	Health Care	1,565	$80,973.10	0.25%
Tri Pointe Homes, Inc.	TPH	87265H109	Consumer Discretionary	2,448	$77,968.80	0.25%
DHT Holdings, Inc.	DHT	Y2065G121	Energy	7,015	$75,130.65	0.24%
Fidelis Insurance Holdings Limited	FIHL	G3398L118	Financials	4,666	$75,589.20	0.24%
Resideo Technologies, Inc.	REZI	76118Y104	Industrials	4,294	$76,519.08	0.24%
The Marcus Corporation	MCS	566330106	Communication Services	4,559	$75,588.22	0.24%
WisdomTree, Inc.	WT	97717P104	Financials	8,682	$77,790.72	0.24%
A10 Networks, Inc.	ATEN	002121101	Information Technology	4,282	$71,680.68	0.23%
Avanos Medical, Inc.	AVNS	05350V106	Health Care	5,178	$72,233.10	0.23%
BioLife Solutions, Inc.	BLFS	09062W204	Health Care	2,877	$74,686.92	0.23%
CSG Systems International, Inc.	CSGS	126349109	Industrials	1,252	$74,531.56	0.23%
Harmonic Inc.	HLIT	413160102	Information Technology	7,372	$71,582.12	0.23%
Harmony Biosciences Holdings, Inc.	HRMY	413197104	Health Care	2,244	$74,478.36	0.23%
LeMaitre Vascular, Inc.	LMAT	525558201	Health Care	877	$72,834.85	0.23%
MasterBrand, Inc.	MBC	57638P104	Industrials	5,510	$72,181.00	0.23%
Payoneer Global Inc.	PAYO	70451X104	Financials	10,204	$73,979.00	0.23%
Select Water Solutions, Inc. (Class A)	WTTR	81617J301	Energy	7,174	$74,609.60	0.23%
Simulations Plus, Inc.	SLP	829214105	Health Care	2,977	$72,311.33	0.23%
AMN Healthcare Services, Inc.	AMN	001744101	Health Care	3,019	$71,157.83	0.22%
Axcelis Technologies, Inc.	ACLS	054540208	Information Technology	1,389	$69,047.19	0.22%
Cushman & Wakefield Plc	CWK	G2717B108	Real Estate	6,748	$68,762.12	0.22%
Dillard's, Inc. (Class A)	DDS	254067101	Consumer Discretionary	195	$69,971.85	0.22%
EnerSys	ENS	29275Y102	Industrials	758	$70,577.38	0.22%
EverQuote, Inc. (Class A)	EVER	30041R108	Communication Services	2,637	$70,882.56	0.22%
Helen of Troy Limited	HELE	G4388N106	Consumer Discretionary	1,312	$70,874.24	0.22%
Innovative Industrial Properties, Inc.	IIPR	45781V101	Real Estate	1,076	$68,595.00	0.22%
Piper Sandler Companies	PIPR	724078100	Financials	284	$70,287.16	0.22%
Sterling Infrastructure, Inc.	STRL	859241101	Industrials	609	$70,735.35	0.22%
Veracyte, Inc.	VCYT	92337F107	Health Care	2,308	$69,516.96	0.22%
Ardmore Shipping Corporation	ASC	Y0207T100	Energy	6,562	$66,998.02	0.21%
AvePoint, Inc.	AVPT	053604104	Information Technology	4,460	$65,205.20	0.21%
Civitas Resources, Inc.	CIVI	17888H103	Energy	1,874	$65,627.48	0.21%
Knowles Corporation	KN	49926D109	Information Technology	4,454	$68,368.90	0.21%
Peabody Energy Corporation	BTU	704551100	Energy	4,852	$66,569.44	0.21%
Sally Beauty Holdings, Inc.	SBH	79546E104	Consumer Discretionary	7,490	$66,286.50	0.21%
Standard Motor Products, Inc.	SMP	853666105	Consumer Discretionary	2,622	$65,340.24	0.21%
Victory Capital Holdings, Inc. (Class A)	VCTR	92645B103	Financials	1,172	$67,319.68	0.21%
Virtus Investment Partners, Inc.	VRTS	92828Q109	Financials	385	$66,701.25	0.21%
BlueLinx Holdings Inc.	BXC	09624H208	Industrials	847	$64,888.67	0.20%
Cimpress Plc	CMPR	G2143T103	Industrials	1,384	$62,542.96	0.20%
CompoSecure, Inc. (Class A)	CMPO	20459V105	Information Technology	5,743	$62,828.42	0.20%
PVH Corp.	PVH	693656100	Consumer Discretionary	966	$62,490.54	0.20%
Scholastic Corporation	SCHL	807066105	Communication Services	3,423	$63,907.41	0.20%
Ziff Davis, Inc.	ZD	48123V102	Communication Services	1,693	$64,587.95	0.20%
Abercrombie & Fitch Co. (Class A)	ANF	002896207	Consumer Discretionary	795	$60,873.15	0.19%
Argan, Inc.	AGX	04010E109	Industrials	421	$58,148.52	0.18%
Brady Corporation	BRC	104674106	Industrials	794	$55,873.78	0.18%
Photronics, Inc.	PLAB	719405102	Information Technology	2,846	$58,627.60	0.18%
Sapiens International Corporation N.V.	SPNS	G7T16G103	Information Technology	2,043	$55,712.61	0.18%
American Woodmark Corporation	AMWD	030506109	Industrials	916	$54,181.40	0.17%
Envista Holdings Corporation	NVST	29415F104	Health Care	3,123	$52,997.31	0.17%
Park Hotels & Resorts Inc.	PK	700517105	Real Estate	5,051	$55,055.90	0.17%
Tutor Perini Corporation	TPC	901109108	Industrials	2,322	$54,613.44	0.17%
Alarm.com Holdings, Inc.	ALRM	011642105	Information Technology	899	$50,173.19	0.16%
Credo Technology Group Holding Ltd	CRDO	G25457105	Information Technology	1,275	$51,650.25	0.16%
Kelly Services, Inc.	KELYA	488152208	Industrials	3,765	$50,036.85	0.16%
Owens & Minor, Inc.	OMI	690732102	Health Care	6,081	$52,174.98	0.16%
US Dollar	$USD		Other	50,812	$50,811.66	0.16%
Zeta Global Holdings Corp. (Class A)	ZETA	98956A105	Information Technology	3,662	$50,389.12	0.16%
Quanex Building Products Corporation	NX	747619104	Industrials	2,549	$48,660.41	0.15%
Semtech Corporation	SMTC	816850101	Information Technology	1,382	$48,439.10	0.15%
Acuity, Inc.	AYI	00508Y102	Industrials	167	$43,748.99	0.14%
Kohl's Corporation	KSS	500255104	Consumer Discretionary	5,431	$46,000.57	0.14%
Root, Inc. (Class A)	ROOT	77664L207	Financials	324	$44,365.32	0.14%
SITE Centers Corp.	SITC	82981J851	Real Estate	3,416	$43,144.08	0.14%
Axogen, Inc.	AXGN	05463X106	Health Care	2,301	$42,246.36	0.13%
Powell Industries, Inc.	POWL	739128106	Industrials	229	$40,468.88	0.13%
The ODP Corporation	ODP	88337F105	Consumer Discretionary	2,863	$40,969.53	0.13%
Wabash National Corporation	WNC	929566107	Industrials	3,835	$42,300.05	0.13%
Griffon Corporation	GFF	398433102	Industrials	540	$38,053.80	0.12%
Innodata, Inc.	INOD	457642205	Industrials	983	$36,754.37	0.12%
Innoviva, Inc.	INVA	45781M101	Health Care	2,022	$36,759.96	0.12%
Alkami Technology, Inc.	ALKT	01644J108	Information Technology	1,304	$34,438.64	0.11%
ASGN Incorporated	ASGN	00191U102	Information Technology	570	$35,921.40	0.11%
GUESS?, Inc.	GES	401617105	Consumer Discretionary	3,259	$36,077.13	0.11%
LiveRamp Holdings, Inc.	RAMP	53815P108	Information Technology	1,303	$34,321.02	0.11%
Scorpio Tankers Inc.	STNG	Y7542C130	Energy	891	$34,107.48	0.11%
Signet Jewelers Limited	SIG	G81276100	Consumer Discretionary	599	$35,239.17	0.11%
Caleres, Inc.	CAL	129500104	Consumer Discretionary	1,857	$32,126.10	0.10%
Central Pacific Financial Corp.	CPF	154760409	Financials	1,193	$32,127.49	0.10%
CorMedix Inc.	CRMD	21900C308	Health Care	4,536	$30,572.64	0.10%
Mirum Pharmaceuticals, Inc.	MIRM	604749101	Health Care	715	$32,882.85	0.10%
NuScale Power Corporation (Class A)	SMR	67079K100	Industrials	2,097	$31,392.09	0.10%
Yext, Inc.	YEXT	98585N106	Information Technology	5,307	$32,797.26	0.10%
AMC Networks Inc. (Class A)	AMCX	00164V103	Communication Services	4,361	$29,829.24	0.09%
Option Care Health, Inc.	OPCH	68404L201	Health Care	769	$26,707.37	0.08%
Teradata Corporation	TDC	88076W103	Information Technology	1,079	$24,795.42	0.08%
Employers Holdings, Inc.	EIG	292218104	Financials	414	$20,853.18	0.07%
Kontoor Brands, Inc.	KTB	50050N103	Consumer Discretionary	353	$22,517.87	0.07%
WNS (Holdings) Limited	WNS	G98196101	Industrials	360	$22,075.20	0.07%
Avista Corporation	AVA	05379B107	Utilities	487	$19,971.87	0.06%
First BanCorp.	FBP	318672706	Financials	1,028	$19,737.60	0.06%
Graham Holdings Company	GHC	384637104	Consumer Discretionary	19	$18,104.91	0.06%
Laureate Education, Inc. (Class A)	LAUR	518613203	Consumer Discretionary	886	$18,118.70	0.06%
Magnolia Oil & Gas Corporation (Class A)	MGY	559663109	Energy	721	$18,161.99	0.06%
Phreesia Inc.	PHR	71944F106	Health Care	718	$18,668.00	0.06%
Progress Software Corporation	PRGS	743312100	Information Technology	345	$17,729.55	0.06%
SiriusPoint Ltd.	SPNT	G8192H106	Financials	1,167	$19,909.02	0.06%
Southwest Gas Holdings, Inc.	SWX	844895102	Utilities	259	$18,899.23	0.06%
The Western Union Company	WU	959802109	Financials	1,698	$17,795.04	0.06%
Weis Markets, Inc.	WMK	948849104	Consumer Staples	255	$19,708.95	0.06%
Acadian Asset Management Inc.	AAMI	10948W103	Financials	642	$16,602.12	0.05%
Artisan Partners Asset Management Inc. (Class A)	APAM	04316A108	Financials	438	$17,134.56	0.05%
CarGurus, Inc.	CARG	141788109	Communication Services	517	$14,899.94	0.05%
Collegium Pharmaceutical, Inc.	COLL	19459J104	Health Care	529	$15,716.59	0.05%
Enerpac Tool Group Corp.	EPAC	292765104	Industrials	378	$16,934.40	0.05%
First Hawaiian, Inc.	FHB	32051X108	Financials	677	$16,444.33	0.05%
Glaukos Corporation	GKOS	377322102	Health Care	170	$17,340.00	0.05%
Hawaiian Electric Industries, Inc.	HE	419870100	Utilities	1,470	$16,346.40	0.05%
Heritage Financial Corporation	HFWA	42722X106	Financials	716	$17,284.24	0.05%
International Seaways, Inc.	INSW	Y41053102	Energy	479	$15,874.06	0.05%
Janus International Group, Inc.	JBI	47103N106	Industrials	2,382	$17,102.76	0.05%
Main Street Capital Corporation	MAIN	56035L104	Financials	298	$16,884.68	0.05%
ManpowerGroup Inc.	MAN	56418H100	Industrials	291	$17,070.06	0.05%
MAXIMUS, Inc.	MMS	577933104	Industrials	244	$16,643.24	0.05%
MDU Resources Group, Inc.	MDU	552690109	Utilities	995	$16,566.75	0.05%
Movado Group, Inc.	MOV	624580106	Consumer Discretionary	873	$15,041.79	0.05%
MRC Global Inc.	MRC	55345K103	Industrials	1,294	$15,062.16	0.05%
Murphy Oil Corporation	MUR	626717102	Energy	580	$16,454.60	0.05%
Resolute Holdings Management, Inc.	RHLD	76134H101	Industrials	478	$15,281.66	0.05%
Weave Communications, Inc.	WEAV	94724R108	Information Technology	1,418	$15,612.18	0.05%
Winnebago Industries, Inc.	WGO	974637100	Consumer Discretionary	437	$15,185.75	0.05%
Yelp Inc.	YELP	985817105	Communication Services	470	$17,488.70	0.05%
Astrana Health Inc.	ASTH	03763A207	Health Care	414	$12,643.56	0.04%
Carter's, Inc.	CRI	146229109	Consumer Discretionary	320	$12,947.20	0.04%
Deluxe Corporation	DLX	248019101	Industrials	770	$12,219.90	0.04%
Frontdoor, Inc.	FTDR	35905A109	Consumer Discretionary	339	$12,892.17	0.04%
Harrow, Inc.	HROW	415858109	Health Care	527	$13,812.67	0.04%
KB Home	KBH	48666K109	Consumer Discretionary	229	$13,220.17	0.04%
Kennametal Inc.	KMT	489170100	Industrials	646	$13,966.52	0.04%
LivaNova Plc	LIVN	G5509L101	Health Care	356	$13,930.28	0.04%
SEMrush Holdings, Inc. (Class A)	SEMR	81686C104	Information Technology	1,411	$13,503.27	0.04%
Upbound Group Inc.	UPBD	76009N100	Consumer Discretionary	535	$12,700.90	0.04%
American Eagle Outfitters, Inc.	AEO	02553E106	Consumer Discretionary	886	$10,118.12	0.03%
Amphastar Pharmaceuticals, Inc.	AMPH	03209R103	Health Care	391	$11,116.13	0.03%
International Money Express, Inc.	IMXI	46005L101	Financials	844	$10,929.80	0.03%
Chord Energy Corporation	CHRD	674215207	Energy	46	$5,139.58	0.02%
Natural Grocers by Vitamin Cottage, Inc.	NGVC	63888U108	Consumer Staples	204	$7,776.48	0.02%
Xerox Holdings Corporation	XRX	98421M106	Information Technology	1,217	$6,243.21	0.02%
NetScout Systems, Inc.	NTCT	64115T104	Information Technology	161	$3,414.81	0.01%
EZCORP, Inc.	EZPW	302301106	Financials	35	$513.63	0.00%
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.