| Texas County & District Retirement System |
| 100% | 100% | #1 | $54.6M | 5.0M | $60.8M | 5.0M | 00.00% | Unchanged |
| Fidelity National Financial, Inc. |
| 1.45% | 1.88% | #3 | $45.9M | 4.2M | $51.1M | 4.2M | 00.00% | Unchanged |
| Blackstone Inc. |
| 0.14% | 0.2% | #19 | $45.9M | 4.2M | $51.1M | 4.2M | -1-0.00% | Reduce |
| SUN LIFE FINANCIAL INC |
| 1.25% | 1.54% | #4 | $24.3M | 2.2M | $27.1M | 2.2M | 00.00% | Unchanged |
| ARES MANAGEMENT LLC |
| 0.46% | 0.28% | #10 | $11.9M | 1.1M | $6.6M | 546,409 | +541,774+99.15% | Add |
| Invesco Ltd. |
| <0.01% | <0.01% | #55 | $10.9M | 1.0M | $12.5M | 1.0M | -28,653-2.78% | Reduce |
| RIVERNORTH CAPITAL MANAGEMENT, LLC |
| 0.36% | — | #12 | $7.7M | 702,796 | $0 | 0 | +702,796 | New Buy |
| North Ground Capital |
| 6.82% | 4.96% | #2 | $5.7M | 520,800 | $4.1M | 338,907 | +181,893+53.67% | Add |
| UBS Group AG |
| <0.01% | <0.01% | #58 | $5.5M | 501,743 | $4.3M | 355,608 | +146,135+41.09% | Add |
| Mariner, LLC |
| 0.01% | 0.01% | #37 | $4.8M | 441,119 | $5.6M | 463,365 | -22,246-4.80% | Reduce |
| Bulldog Investors, LLP |
| 1.05% | 1.25% | #5 | $4.8M | 437,177 | $5.6M | 456,955 | -19,778-4.33% | Reduce |
| Russell Investments Group, Ltd. |
| <0.01% | <0.01% | #39 | $4.7M | 432,866 | $3.6M | 292,231 | +140,635+48.12% | Add |
| Almitas Capital LLC |
| 0.91% | 0.98% | #6 | $3.9M | 356,905 | $4.3M | 356,905 | 00.00% | Unchanged |
| Focus Partners Wealth |
| <0.01% | <0.01% | #40 | $3.3M | 299,198 | $4.5M | 367,585 | -68,387-18.60% | Reduce |
| CONDOR CAPITAL MANAGEMENT |
| 0.23% | 0.35% | #13 | $3.1M | 279,959 | $4.2M | 345,826 | -65,867-19.05% | Reduce |
| Aspen Grove Capital, LLC |
| 0.44% | 0.64% | #11 | $3.0M | 319,072 | $3.3M | 269,852 | +49,220+18.24% | Add |
| Callodine Capital Management, LP |
| 0.14% | 0.1% | #20 | $2.1M | 191,958 | $1.5M | 120,000 | +71,958+59.97% | Add |
| WELLS FARGO & COMPANY/MN |
| <0.01% | <0.01% | #65 | $2.1M | 188,147 | $2.3M | 190,478 | -2,331-1.22% | Reduce |
| VAN ECK ASSOCIATES CORP |
| <0.01% | <0.01% | #50 | $1.8M | 165,366 | $1.9M | 159,430 | +5,936+3.72% | Add |
| Cerberus Capital Management, L.P. |
| 0.08% | 0.04% | #26 | $1.7M | 160,000 | $1.9M | 160,000 | 00.00% | Unchanged |
| Muzinich & Co., Inc. |
| 0.58% | 0.65% | #8 | $1.7M | 155,186 | $1.9M | 153,282 | +1,904+1.24% | Add |
| Sumitomo Mitsui Trust Group, Inc. |
| <0.01% | <0.01% | #54 | $1.7M | 152,822 | $1.9M | 152,822 | 00.00% | Unchanged |
| HighTower Advisors, LLC |
| <0.01% | <0.01% | #47 | $1.4M | 129,484 | $1.5M | 120,198 | +9,286+7.73% | Add |
| TWO SIGMA INVESTMENTS, LP |
| <0.01% | <0.01% | #52 | $1.4M | 125,400 | $3.7M | 303,554 | -178,154-58.69% | Reduce |
| BlackRock, Inc. |
| <0.01% | <0.01% | #83 | $1.4M | 124,618 | $1.6M | 127,708 | -3,090-2.42% | Reduce |
| RAYMOND JAMES FINANCIAL INC |
| <0.01% | <0.01% | #64 | $1.2M | 112,745 | $2.0M | 163,795 | -51,050-31.17% | Reduce |
| Hennion & Walsh Asset Management, Inc. |
| 0.03% | 0.05% | #28 | $1.2M | 110,715 | $1.5M | 121,541 | -10,826-8.91% | Reduce |
| Adams Asset Advisors, LLC |
| 0.14% | 0.12% | #21 | $1.2M | 109,828 | $969,910 | 79,828 | +30,000+37.58% | Add |
| BANK OF AMERICA CORP /DE/ |
| <0.01% | <0.01% | #76 | $1.1M | 98,589 | $723,542 | 59,551 | +39,038+65.55% | Add |
| DENALI ADVISORS LLC |
| 0.11% | 0.14% | #25 | $1.1M | 96,746 | $1.2M | 101,687 | -4,941-4.86% | Reduce |
| ICON ADVISERS INC/CO |
| 0.19% | — | #15 | $1.0M | 92,787 | $0 | 0 | +92,787 | New Buy |
| MORGAN STANLEY |
| <0.01% | <0.01% | #78 | $979,280 | 89,677 | $3.0M | 213,505 | -123,828-58.00% | Reduce |
| CAPTRUST FINANCIAL ADVISORS |
| <0.01% | <0.01% | #46 | $932,542 | 85,398 | $1.0M | 86,322 | -924-1.07% | Reduce |
| Beverly Hills Private Wealth, LLC |
| 0.17% | 0.11% | #16 | $908,114 | 83,161 | $664,143 | 54,662 | +28,499+52.14% | Add |
| Alpine Global Management, LLC |
| 0.15% | 0.27% | #18 | $901,129 | 82,521 | $1.6M | 129,312 | -46,791-36.18% | Reduce |
| Trexquant Investment LP |
| 0.01% | 0.01% | #36 | $854,457 | 78,247 | $1.9M | 157,101 | -78,854-50.19% | Reduce |
| OPPENHEIMER & CO INC |
| 0.01% | 0.01% | #32 | $831,569 | 76,151 | $744,054 | 61,239 | +14,912+24.35% | Add |
| Pettinga Financial Advisors LLC |
| 0.12% | 0.16% | #23 | $756,768 | 69,301 | $847,366 | 69,742 | -441-0.63% | Reduce |
| Closed-End Fund Advisors, Inc. |
| 0.55% | 0.69% | #9 | $561,576 | 51,426 | $678,181 | 55,817 | -4,391-7.87% | Reduce |
| Virtus Investment Advisers, LLC |
| 0.12% | 0.15% | #24 | $520,021 | 47,621 | $545,754 | 44,918 | +2,703+6.02% | Add |
| Curi Capital, LLC |
| 0.01% | — | #33 | $491,400 | 45,000 | $0 | 0 | +45,000 | New Buy |
| &PARTNERS |
| <0.01% | 0.01% | #44 | $470,051 | 43,045 | $1.8M | 146,606 | -103,561-70.64% | Reduce |
| ROYAL BANK OF CANADA |
| <0.01% | <0.01% | #77 | $449,000 | 41,064 | $512,000 | 42,170 | -1,106-2.62% | Reduce |
| Beach Point Capital Management LP |
| 0.16% | — | #17 | $402,042 | 36,817 | $0 | 0 | +36,817 | New Buy |
| UMB Bank, n.a. |
| <0.01% | — | #38 | $393,666 | 36,050 | $0 | 0 | +36,050 | New Buy |
| CONFLUENCE INVESTMENT MANAGEMENT LLC |
| 0.01% | 0.01% | #35 | $386,677 | 35,410 | $391,509 | 32,223 | +3,187+9.89% | Add |
| MACKENZIE FINANCIAL CORP |
| <0.01% | <0.01% | #63 | $359,596 | 32,930 | $400,099 | 32,930 | 00.00% | Unchanged |
| Silverberg Bernstein Capital Management LLC |
| 0.12% | 0.19% | #22 | $322,795 | 29,560 | $340,929 | 28,060 | +1,500+5.35% | Add |
| SCS Capital Management LLC |
| <0.01% | <0.01% | #41 | $314,648 | 28,814 | $350,089 | 28,814 | 00.00% | Unchanged |
| CITADEL ADVISORS LLC |
| <0.01% | <0.01% | #80 | $300,300 | 27,500 | $278,235 | 22,900 | +4,600+20.09% | Add |
