Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AJG	GALLAGHER ARTHUR J & CO	701,260	$152M	1.1%	$240.41	0.0%	COM	363576109
EFX	EQUIFAX INC	747,201	$135M	1.0%	$204.32	0.0%	COM	294429105
LW	LAMB WESTON HLDGS INC	942,284	$39.82M	0.3%	$45.68	0.0%	COM	513272104
FMS	FRESENIUS MEDICAL CARE AG	1,610,849	$36.34M	0.3%	$22.56	—	SPONSORED ADR	358029106
WAT	WATERS CORP	69,454	$20.68M	0.1%	$367.10	0.0%	COM	941848103
NTES	NETEASE COM INC	109,401	$12.25M	0.1%	$111.95	—	SPONSORED ADS	64110W102
TFX	TELEFLEX INCORPORATED	33,109	$3.96M	0.0%	$108.70	0.0%	COM	879369106
TSN	TYSON FOODS INC	51,203	$3.281M	0.0%	$62.28	0.0%	CL A	902494103
TRU	TRANSUNION	34,305	$2.374M	0.0%	$78.92	0.0%	COM	89400J107
CAG	CONAGRA BRANDS INC	148,610	$2.336M	0.0%	$18.02	0.0%	COM	205887102

Increased Positions (119)

NICE NICE LTD 1.7%

Value $246M (+207.5%) Shares 2,229,590 (+215.3%) Est. Cost $111.14 Unrealized —

MHK MOHAWK INDS INC 1.8%

Value $258M (+113.9%) Shares 2,618,422 (+137.5%) Est. Cost $119.58 Unrealized +3.3%

WLK WESTLAKE CORPORATION 1.5%

Value $215M (+74.3%) Shares 1,842,650 (+10.3%) Est. Cost $86.93 Unrealized +2.7%

DOX AMDOCS LTD 2.2%

Value $304M (+39.0%) Shares 4,655,087 (+71.5%) Est. Cost $76.02 Unrealized +1.4%

PZZA PAPA JOHNS INTL INC 0.6%

Value $85.33M (+496.9%) Shares 2,632,804 (+608.9%) Est. Cost $35.86 Unrealized -1.9%

TAP MOLSON COORS BEVERAGE CO 0.5%

Value $70.58M (+1306.9%) Shares 1,639,212 (+1425.1%) Est. Cost $49.34 Unrealized +0.3%

SHEL SHELL PLC 1.8%

Value $256M (+33.1%) Shares 2,752,755 (+5.2%) Est. Cost $66.84 Unrealized —

NGG NATIONAL GRID PLC 0.8%

Value $111M (+83.9%) Shares 1,312,011 (+68.1%) Est. Cost $80.29 Unrealized —

CAE CAE INC 2.9%

Value $414M (-10.3%) Shares 15,874,667 (+4.7%) Est. Cost $20.30 Unrealized +56.7%

TCOM TRIP COM GROUP LTD 0.3%

Value $43.21M (+1909.7%) Shares 867,912 (+2802.7%) Est. Cost $50.55 Unrealized —

PFE PFIZER INC 1.8%

Value $256M (+19.0%) Shares 9,107,225 (+5.5%) Est. Cost $26.31 Unrealized -0.5%

EPC EDGEWELL PERSONAL CARE CO 1.0%

Value $143M (+37.5%) Shares 6,721,077 (+9.8%) Est. Cost $28.86 Unrealized -31.2%

SNY SANOFI SA 1.3%

Value $179M (+27.1%) Shares 3,723,100 (+27.8%) Est. Cost $49.32 Unrealized —

UNH UNITEDHEALTH GROUP INC 1.2%

Value $168M (+27.4%) Shares 621,884 (+55.4%) Est. Cost $341.11 Unrealized -9.5%

PGR PROGRESSIVE CORP 1.2%

Value $172M (+25.6%) Shares 868,688 (+44.2%) Est. Cost $210.61 Unrealized -1.9%

ARLO ARLO TECHNOLOGIES INC 1.0%

Value $145M (+26.8%) Shares 10,218,854 (+24.6%) Est. Cost $10.96 Unrealized +16.8%

SLB SLB LIMITED 0.7%

Value $105M (+40.7%) Shares 2,042,013 (+5.1%) Est. Cost $39.15 Unrealized +23.4%

IMKTA INGLES MKTS INC 0.8%

Value $113M (+36.1%) Shares 1,252,284 (+3.8%) Est. Cost $68.15 Unrealized +14.5%

JBS JBS N.V. 0.4%

Value $53.57M (+121.3%) Shares 2,982,674 (+77.7%) Est. Cost $14.47 Unrealized +6.5%

OTEX OPEN TEXT CORP 1.9%

Value $270M (-9.0%) Shares 12,135,998 (+33.3%) Est. Cost $28.63 Unrealized -4.0%

WFC WELLS FARGO & CO 1.6%

Value $219M (-10.5%) Shares 2,754,893 (+4.8%) Est. Cost $40.58 Unrealized +121.9%

SAP SAP SE 0.6%

Value $79.75M (+43.1%) Shares 465,756 (+103.0%) Est. Cost $199.62 Unrealized —

EPAM EPAM SYS INC 1.3%

Value $179M (-11.0%) Shares 1,325,054 (+34.7%) Est. Cost $172.72 Unrealized +10.4%

TAK TAKEDA PHARMACEUTICAL CO LTD 0.6%

Value $82.06M (+35.6%) Shares 4,430,642 (+14.1%) Est. Cost $15.67 Unrealized —

NTGR NETGEAR INC 0.5%

Value $65.56M (+44.0%) Shares 3,001,669 (+61.8%) Est. Cost $21.99 Unrealized -1.6%

AMX AMERICA MOVIL SAB DE CV 0.5%

Value $76.85M (+34.6%) Shares 3,015,888 (+9.2%) Est. Cost $17.65 Unrealized —

INGR INGREDION INC 0.5%

Value $63.79M (+43.4%) Shares 566,205 (+40.3%) Est. Cost $106.13 Unrealized +9.5%

BAC BANK AMERICA CORP 1.6%

Value $223M (-7.7%) Shares 4,566,877 (+4.1%) Est. Cost $25.85 Unrealized +107.6%

ICLR ICON PLC 1.1%

Value $159M (+12.2%) Shares 1,435,053 (+84.8%) Est. Cost $158.78 Unrealized -1.5%

ARW ARROW ELECTRS INC 0.4%

Value $61.92M (+37.3%) Shares 431,768 (+5.4%) Est. Cost $114.84 Unrealized +16.3%

TGT TARGET CORP 0.5%

Value $69.47M (+29.8%) Shares 573,155 (+4.7%) Est. Cost $94.36 Unrealized +15.7%

EVRG EVERGY INC 0.7%

Value $97.19M (+17.8%) Shares 1,186,371 (+4.2%) Est. Cost $61.15 Unrealized +26.4%

FISV FISERV INC 0.8%

Value $108M (-11.3%) Shares 1,927,031 (+6.7%) Est. Cost $123.72 Unrealized -48.3%

PBH PRESTIGE CONSMR HEALTHCARE I 0.4%

Value $50.62M (+35.3%) Shares 854,119 (+40.8%) Est. Cost $65.50 Unrealized +0.4%

AZO AUTOZONE INC 0.4%

Value $50.84M (+31.2%) Shares 15,044 (+31.8%) Est. Cost $2673.18 Unrealized +35.6%

ALSN ALLISON TRANSMISSION HLDGS I 0.4%

Value $58.64M (+25.7%) Shares 500,894 (+5.1%) Est. Cost $88.66 Unrealized +25.5%

VIV TELEFONICA BRASIL SA 0.3%

Value $38.99M (+44.3%) Shares 2,450,386 (+7.6%) Est. Cost $9.49 Unrealized —

KNX KNIGHT-SWIFT TRANSN HLDGS IN 0.6%

Value $85.54M (+15.7%) Shares 1,485,532 (+5.0%) Est. Cost $46.80 Unrealized +23.6%

ABEV AMBEV SA 0.5%

Value $67.38M (+20.7%) Shares 23,075,673 (+2.1%) Est. Cost $2.50 Unrealized —

KSPI KASPI KZ JSC 0.4%

Value $55.12M (+26.4%) Shares 744,099 (+33.3%) Est. Cost $79.06 Unrealized —

DEO DIAGEO PLC 0.3%

Value $37.37M (+43.6%) Shares 501,973 (+66.4%) Est. Cost $81.95 Unrealized —

SSNC SS&C TECH HLDGS 0.6%

Value $81.49M (-11.5%) Shares 1,205,943 (+14.5%) Est. Cost $68.01 Unrealized +17.6%

TXT TEXTRON INC 1.8%

Value $249M (+4.3%) Shares 2,840,753 (+3.9%) Est. Cost $69.76 Unrealized +34.8%

BABA ALIBABA GROUP HLDG LTD 0.6%

Value $83.57M (-10.8%) Shares 666,113 (+4.2%) Est. Cost $96.74 Unrealized —

IFF INTERNATIONAL FLAVORS&FRAGRA 0.6%

Value $80.2M (+14.1%) Shares 1,105,503 (+6.0%) Est. Cost $67.74 Unrealized +9.4%

MTX MINERALS TECHNOLOGIES INC 0.4%

Value $59.64M (+19.3%) Shares 840,959 (+2.6%) Est. Cost $59.77 Unrealized +14.6%

LH LABCORP HOLDINGS INC 0.5%

Value $65.45M (+17.0%) Shares 245,306 (+10.0%) Est. Cost $213.71 Unrealized +26.8%

CI THE CIGNA GROUP 1.9%

Value $269M (+3.6%) Shares 1,008,869 (+6.8%) Est. Cost $263.15 Unrealized +6.7%

TSM TAIWAN SEMICONDUCTOR MANUFAC 0.5%

Value $64.3M (+16.5%) Shares 190,238 (+4.7%) Est. Cost $126.52 Unrealized —

WKC WORLD KINECT CORPORATION 0.7%

Value $98.97M (+9.8%) Shares 4,289,840 (+11.5%) Est. Cost $25.22 Unrealized +5.3%

UTMD UTAH MED PRODS INC 0.2%

Value $27.85M (+41.7%) Shares 449,279 (+27.9%) Est. Cost $64.84 Unrealized -4.2%

AOUT AMERICAN OUTDOOR BRANDS INC 0.2%

Value $22.69M (+55.5%) Shares 2,428,930 (+28.7%) Est. Cost $9.63 Unrealized -7.3%

PHG KONINKLIJKE PHILIPS N V 0.4%

Value $54.5M (+16.6%) Shares 1,988,923 (+15.2%) Est. Cost $23.14 Unrealized —

MSM MSC INDL DIRECT INC 0.2%

Value $34.37M (+28.1%) Shares 372,515 (+16.8%) Est. Cost $82.27 Unrealized +8.0%

KVUE KENVUE INC 0.4%

Value $60.08M (+12.5%) Shares 3,484,968 (+12.6%) Est. Cost $18.51 Unrealized -4.6%

EMBJ EMBRAER S.A. 2.4%

Value $338M (+2.0%) Shares 5,703,945 (+10.6%) Est. Cost $23.67 Unrealized —

ORN ORION GROUP HLDGS INC 0.4%

Value $56.24M (+12.9%) Shares 5,159,835 (+3.0%) Est. Cost $6.07 Unrealized +103.5%

SMG SCOTTS MIRACLE-GRO CO 0.3%

Value $49.18M (+14.3%) Shares 808,807 (+9.7%) Est. Cost $56.23 Unrealized +14.4%

CTSH COGNIZANT TECHNOLOGY SOLUTIO 1.3%

Value $187M (-3.2%) Shares 3,042,840 (+31.0%) Est. Cost $67.66 Unrealized +13.5%

ACGL ARCH CAP GROUP LTD 1.2%

Value $170M (+3.7%) Shares 1,772,372 (+3.6%) Est. Cost $94.31 Unrealized +1.6%

SON SONOCO PRODS CO 0.2%

Value $21.83M (+35.8%) Shares 403,630 (+9.5%) Est. Cost $43.98 Unrealized +14.4%

CMCSA COMCAST CORP NEW 1.3%

Value $185M (+3.0%) Shares 6,429,738 (+7.3%) Est. Cost $36.72 Unrealized -18.8%

CVS CVS HEALTH CORP 1.0%

Value $141M (-3.4%) Shares 1,969,801 (+6.7%) Est. Cost $62.35 Unrealized +25.1%

GOOG ALPHABET INC 0.6%

Value $84.22M (-5.4%) Shares 293,577 (+3.5%) Est. Cost $129.71 Unrealized +149.5%

CPA COPA HOLDINGS SA 0.6%

Value $83.64M (+6.0%) Shares 736,228 (+12.5%) Est. Cost $80.28 Unrealized +73.0%

FSTR FOSTER L B CO 0.3%

Value $41.33M (+12.7%) Shares 1,481,323 (+8.9%) Est. Cost $19.22 Unrealized +55.7%

EMR EMERSON ELEC CO 0.9%

Value $125M (+3.7%) Shares 953,506 (+5.0%) Est. Cost $75.09 Unrealized +97.7%

SNN SMITH & NEPHEW PLC 0.3%

Value $42.66M (+10.1%) Shares 1,342,198 (+13.6%) Est. Cost $27.51 Unrealized —

LNSR LENSAR INC 0.0%

Value $6.11M (-38.6%) Shares 1,025,176 (+19.7%) Est. Cost $8.22 Unrealized +46.4%

WTW WILLIS TOWERS WATSON PLC LTD 0.6%

Value $86.93M (-4.0%) Shares 299,036 (+8.5%) Est. Cost $239.83 Unrealized +31.3%

MOV MOVADO GROUP INC 0.1%

Value $18.05M (+24.3%) Shares 739,192 (+5.0%) Est. Cost $16.73 Unrealized +40.4%

GOOGL ALPHABET INC 0.7%

Value $102M (-3.1%) Shares 353,899 (+5.5%) Est. Cost $128.87 Unrealized +150.9%

SCHL SCHOLASTIC CORP 0.1%

Value $11.4M (+37.6%) Shares 291,888 (+4.4%) Est. Cost $23.93 Unrealized +40.6%

PNC PNC FINL SVCS GROUP INC 1.2%

Value $169M (+1.7%) Shares 814,000 (+2.0%) Est. Cost $125.89 Unrealized +78.7%

ENIC ENEL CHILE SA 0.2%

Value $23.68M (+11.8%) Shares 6,009,907 (+14.0%) Est. Cost $3.12 Unrealized —

GRFS GRIFOLS S A 2.1%

Value $291M (+0.7%) Shares 36,333,714 (+17.4%) Est. Cost $9.10 Unrealized —

FTRE FORTREA HLDGS INC 0.0%

Value $2.894M (-39.9%) Shares 307,267 (+10.0%) Est. Cost $13.56 Unrealized +9.0%

HMC HONDA MOTOR CO LTD 0.2%

Value $29.89M (+6.4%) Shares 1,229,723 (+29.0%) Est. Cost $27.44 Unrealized —

WPP WPP PLC NEW 0.1%

Value $13.98M (-11.4%) Shares 898,714 (+28.0%) Est. Cost $40.52 Unrealized —

C CITIGROUP INC 2.0%

Value $277M (+0.6%) Shares 2,444,489 (+3.5%) Est. Cost $47.74 Unrealized +143.4%

OMC OMNICOM GROUP INC 0.6%

Value $86.3M (-1.9%) Shares 1,145,912 (+5.2%) Est. Cost $74.01 Unrealized +3.4%

SYY SYSCO CORP 0.5%

Value $64.61M (+2.3%) Shares 905,717 (+5.7%) Est. Cost $74.00 Unrealized +11.1%

CENTA CENTRAL GARDEN & PET CO 0.0%

Value $3.89M (+56.2%) Shares 119,994 (+40.7%) Est. Cost $29.66 Unrealized +6.2%

QRVO QORVO INC 0.3%

Value $35.98M (-3.7%) Shares 464,880 (+5.2%) Est. Cost $102.41 Unrealized -19.7%

TIMB TIM S A 0.0%

Value $4.259M (+46.3%) Shares 160,786 (+7.4%) Est. Cost $14.39 Unrealized —

TFC TRUIST FINL CORP 0.3%

Value $38.27M (-3.1%) Shares 832,427 (+3.7%) Est. Cost $35.78 Unrealized +42.9%

XRAY DENTSPLY SIRONA INC 0.1%

Value $10.89M (+11.2%) Shares 939,106 (+9.6%) Est. Cost $14.53 Unrealized -13.2%

ZBH ZIMMER BIOMET HOLDINGS INC 0.0%

Value $5.375M (+22.3%) Shares 59,440 (+21.6%) Est. Cost $97.00 Unrealized -5.5%

GLOB GLOBANT S A 1.1%

Value $158M (+0.6%) Shares 3,424,400 (+42.6%) Est. Cost $69.35 Unrealized -13.0%

HURC HURCO CO 0.1%

Value $8.7M (+11.3%) Shares 591,406 (+16.9%) Est. Cost $22.03 Unrealized -22.7%

AVT AVNET INC 0.0%

Value $2.326M (+47.3%) Shares 37,755 (+14.9%) Est. Cost $49.77 Unrealized +17.1%

HTLD HEARTLAND EXPRESS INC 0.0%

Value $2.875M (+30.3%) Shares 276,427 (+13.1%) Est. Cost $9.63 Unrealized +12.1%

FFIV F5 INC 0.0%

Value $3.74M (+21.0%) Shares 12,928 (+6.7%) Est. Cost $183.68 Unrealized +48.3%

AGCO AGCO CORP 0.0%

Value $2.888M (+27.7%) Shares 24,922 (+15.0%) Est. Cost $102.45 Unrealized +18.2%

MZTI MARZETTI COMPANY 0.0%

Value $2.395M (+32.4%) Shares 17,317 (+57.4%) Est. Cost $172.21 Unrealized -4.5%

CFG CITIZENS FINL GROUP INC 0.0%

Value $4.558M (+14.7%) Shares 76,001 (+11.8%) Est. Cost $40.39 Unrealized +56.3%

CPB THE CAMPBELLS COMPANY 0.0%

Value $3.724M (+18.3%) Shares 167,214 (+48.0%) Est. Cost $31.00 Unrealized -12.0%

UTHR UNITED THERAPEUTICS CORP DEL 0.0%

Value $2.539M (+28.8%) Shares 4,281 (+5.9%) Est. Cost $314.74 Unrealized +52.6%

RGP RESOURCES CONNECTION INC 0.0%

Value $6.757M (-7.1%) Shares 1,811,479 (+25.6%) Est. Cost $6.41 Unrealized -32.1%

MD PEDIATRIX MEDICAL GROUP INC 0.1%

Value $9.966M (+5.4%) Shares 465,941 (+5.4%) Est. Cost $14.06 Unrealized +51.2%

SUZ SUZANO S A 0.0%

Value $2.697M (+20.3%) Shares 269,437 (+12.3%) Est. Cost $10.19 Unrealized —

STT STATE STR CORP 0.3%

Value $47.38M (-0.9%) Shares 374,383 (+1.1%) Est. Cost $63.86 Unrealized +104.0%

LSTR LANDSTAR SYS INC 0.0%

Value $1.502M (+36.9%) Shares 9,370 (+22.7%) Est. Cost $150.99 Unrealized —

FMX FOMENTO ECONOMICO MEXICANO S 0.0%

Value $2.515M (+17.3%) Shares 22,647 (+6.7%) Est. Cost $97.00 Unrealized —

BDX BECTON DICKINSON & CO 1.7%

Value $238M (-0.1%) Shares 1,515,604 (+23.2%) Est. Cost $179.21 Unrealized -6.4%

HDB HDFC BANK LTD 0.0%

Value $2.966M (-10.2%) Shares 119,206 (+31.9%) Est. Cost $42.86 Unrealized —

EXE EXPAND ENERGY CORPORATION 0.0%

Value $2.888M (+13.1%) Shares 26,303 (+13.7%) Est. Cost $77.98 Unrealized +35.7%

VTMX VESTA REAL ESTATE CORP 0.0%

Value $1.758M (+22.7%) Shares 52,724 (+12.2%) Est. Cost $27.30 Unrealized —

TLK TELEKOMUNIKASI IND 0.0%

Value $3.096M (-8.8%) Shares 165,762 (+2.7%) Est. Cost $15.36 Unrealized —

SEIC SEI INVTS CO 0.0%

Value $3.186M (+8.9%) Shares 40,604 (+13.9%) Est. Cost $74.26 Unrealized +13.4%

WHR WHIRLPOOL CORP 0.0%

Value $3.353M (+7.3%) Shares 62,190 (+43.6%) Est. Cost $84.68 Unrealized -1.5%

HSIC SCHEIN HENRY INC 0.0%

Value $1.912M (+12.8%) Shares 25,942 (+15.7%) Est. Cost $71.78 Unrealized +8.7%

WFG WEST FRASER TIMBER LTD 0.0%

Value $935K (+28.9%) Shares 14,325 (+20.6%) Est. Cost $63.74 Unrealized +8.8%

SHC SOTERA HEALTH CO 0.0%

Value $2.412M (-8.0%) Shares 168,223 (+13.2%) Est. Cost $14.04 Unrealized +28.5%

OGN ORGANON & CO 0.0%

Value $4.143M (-4.7%) Shares 691,625 (+14.0%) Est. Cost $10.32 Unrealized -20.3%

KOF COCA-COLA FEMSA SAB DE CV 0.0%

Value $3.012M (+5.8%) Shares 30,875 (+2.8%) Est. Cost $93.73 Unrealized —

WTM WHITE MTNS INS GROUP LTD 0.0%

Value $1.533M (+11.0%) Shares 698 (+5.0%) Est. Cost $1743.47 Unrealized +20.9%

LEVI LEVI STRAUSS & CO NEW 0.0%

Value $2.306M (+0.6%) Shares 124,693 (+12.8%) Est. Cost $17.86 Unrealized +19.1%

ORI OLD REP INTL CORP 0.0%

Value $1.614M (-0.7%) Shares 40,452 (+13.6%) Est. Cost $27.71 Unrealized +50.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NICE	NICE LTD	2,229,590 (+215.3%)	$246M (+207.5%)	1.7%	$111.14	—	SPONSORED ADR	653656108
MHK	MOHAWK INDS INC	2,618,422 (+137.5%)	$258M (+113.9%)	1.8%	$119.58	+3.3%	COM	608190104
WLK	WESTLAKE CORPORATION	1,842,650 (+10.3%)	$215M (+74.3%)	1.5%	$86.93	+2.7%	COM	960413102
DOX	AMDOCS LTD	4,655,087 (+71.5%)	$304M (+39.0%)	2.2%	$76.02	+1.4%	SHS	G02602103
PZZA	PAPA JOHNS INTL INC	2,632,804 (+608.9%)	$85.33M (+496.9%)	0.6%	$35.86	-1.9%	COM	698813102
TAP	MOLSON COORS BEVERAGE CO	1,639,212 (+1425.1%)	$70.58M (+1306.9%)	0.5%	$49.34	+0.3%	CL B	60871R209
SHEL	SHELL PLC	2,752,755 (+5.2%)	$256M (+33.1%)	1.8%	$66.84	—	SPON ADS	780259305
NGG	NATIONAL GRID PLC	1,312,011 (+68.1%)	$111M (+83.9%)	0.8%	$80.29	—	SPONSORED ADR NE	636274409
CAE	CAE INC	15,874,667 (+4.7%)	$414M (-10.3%)	2.9%	$20.30	+56.7%	COM	124765108
TCOM	TRIP COM GROUP LTD	867,912 (+2802.7%)	$43.21M (+1909.7%)	0.3%	$50.55	—	ADS	89677Q107
PFE	PFIZER INC	9,107,225 (+5.5%)	$256M (+19.0%)	1.8%	$26.31	-0.5%	COM	717081103
EPC	EDGEWELL PERSONAL CARE CO	6,721,077 (+9.8%)	$143M (+37.5%)	1.0%	$28.86	-31.2%	COM	28035Q102
SNY	SANOFI SA	3,723,100 (+27.8%)	$179M (+27.1%)	1.3%	$49.32	—	SPONSORED ADR	80105N105
UNH	UNITEDHEALTH GROUP INC	621,884 (+55.4%)	$168M (+27.4%)	1.2%	$341.11	-9.5%	COM	91324P102
PGR	PROGRESSIVE CORP	868,688 (+44.2%)	$172M (+25.6%)	1.2%	$210.61	-1.9%	COM	743315103
ARLO	ARLO TECHNOLOGIES INC	10,218,854 (+24.6%)	$145M (+26.8%)	1.0%	$10.96	+16.8%	COM	04206A101
SLB	SLB LIMITED	2,042,013 (+5.1%)	$105M (+40.7%)	0.7%	$39.15	+23.4%	COM STK	806857108
IMKTA	INGLES MKTS INC	1,252,284 (+3.8%)	$113M (+36.1%)	0.8%	$68.15	+14.5%	CL A	457030104
JBS	JBS N.V.	2,982,674 (+77.7%)	$53.57M (+121.3%)	0.4%	$14.47	+6.5%	CL A SHS	N4732M103
OTEX	OPEN TEXT CORP	12,135,998 (+33.3%)	$270M (-9.0%)	1.9%	$28.63	-4.0%	COM	683715106
WFC	WELLS FARGO & CO	2,754,893 (+4.8%)	$219M (-10.5%)	1.6%	$40.58	+121.9%	COM	949746101
SAP	SAP SE	465,756 (+103.0%)	$79.75M (+43.1%)	0.6%	$199.62	—	SPON ADR	803054204
EPAM	EPAM SYS INC	1,325,054 (+34.7%)	$179M (-11.0%)	1.3%	$172.72	+10.4%	COM	29414B104
TAK	TAKEDA PHARMACEUTICAL CO LTD	4,430,642 (+14.1%)	$82.06M (+35.6%)	0.6%	$15.67	—	SPONSORED ADS	874060205
NTGR	NETGEAR INC	3,001,669 (+61.8%)	$65.56M (+44.0%)	0.5%	$21.99	-1.6%	COM	64111Q104
AMX	AMERICA MOVIL SAB DE CV	3,015,888 (+9.2%)	$76.85M (+34.6%)	0.5%	$17.65	—	SPON ADS RP CL B	02390A101
INGR	INGREDION INC	566,205 (+40.3%)	$63.79M (+43.4%)	0.5%	$106.13	+9.5%	COM	457187102
BAC	BANK AMERICA CORP	4,566,877 (+4.1%)	$223M (-7.7%)	1.6%	$25.85	+107.6%	COM	060505104
ICLR	ICON PLC	1,435,053 (+84.8%)	$159M (+12.2%)	1.1%	$158.78	-1.5%	SHS	G4705A100
ARW	ARROW ELECTRS INC	431,768 (+5.4%)	$61.92M (+37.3%)	0.4%	$114.84	+16.3%	COM	042735100
TGT	TARGET CORP	573,155 (+4.7%)	$69.47M (+29.8%)	0.5%	$94.36	+15.7%	COM	87612E106
EVRG	EVERGY INC	1,186,371 (+4.2%)	$97.19M (+17.8%)	0.7%	$61.15	+26.4%	COM	30034W106
FISV	FISERV INC	1,927,031 (+6.7%)	$108M (-11.3%)	0.8%	$123.72	-48.3%	COM	337738108
PBH	PRESTIGE CONSMR HEALTHCARE I	854,119 (+40.8%)	$50.62M (+35.3%)	0.4%	$65.50	+0.4%	COM	74112D101
AZO	AUTOZONE INC	15,044 (+31.8%)	$50.84M (+31.2%)	0.4%	$2673.18	+35.6%	COM	053332102
ALSN	ALLISON TRANSMISSION HLDGS I	500,894 (+5.1%)	$58.64M (+25.7%)	0.4%	$88.66	+25.5%	COM	01973R101
VIV	TELEFONICA BRASIL SA	2,450,386 (+7.6%)	$38.99M (+44.3%)	0.3%	$9.49	—	SPONSORED ADS	87936R205
KNX	KNIGHT-SWIFT TRANSN HLDGS IN	1,485,532 (+5.0%)	$85.54M (+15.7%)	0.6%	$46.80	+23.6%	CL A	499049104
ABEV	AMBEV SA	23,075,673 (+2.1%)	$67.38M (+20.7%)	0.5%	$2.50	—	SPONSORED ADR	02319V103
KSPI	KASPI KZ JSC	744,099 (+33.3%)	$55.12M (+26.4%)	0.4%	$79.06	—	SPONSORED ADS	48581R205
DEO	DIAGEO PLC	501,973 (+66.4%)	$37.37M (+43.6%)	0.3%	$81.95	—	SPON ADR NEW	25243Q205
SSNC	SS&C TECH HLDGS	1,205,943 (+14.5%)	$81.49M (-11.5%)	0.6%	$68.01	+17.6%	COM	78467J100
TXT	TEXTRON INC	2,840,753 (+3.9%)	$249M (+4.3%)	1.8%	$69.76	+34.8%	COM	883203101
BABA	ALIBABA GROUP HLDG LTD	666,113 (+4.2%)	$83.57M (-10.8%)	0.6%	$96.74	—	SPONSORED ADS	01609W102
IFF	INTERNATIONAL FLAVORS&FRAGRA	1,105,503 (+6.0%)	$80.2M (+14.1%)	0.6%	$67.74	+9.4%	COM	459506101
MTX	MINERALS TECHNOLOGIES INC	840,959 (+2.6%)	$59.64M (+19.3%)	0.4%	$59.77	+14.6%	COM	603158106
LH	LABCORP HOLDINGS INC	245,306 (+10.0%)	$65.45M (+17.0%)	0.5%	$213.71	+26.8%	COM SHS	504922105
CI	THE CIGNA GROUP	1,008,869 (+6.8%)	$269M (+3.6%)	1.9%	$263.15	+6.7%	COM	125523100
TSM	TAIWAN SEMICONDUCTOR MANUFAC	190,238 (+4.7%)	$64.3M (+16.5%)	0.5%	$126.52	—	SPONSORED ADS	874039100
WKC	WORLD KINECT CORPORATION	4,289,840 (+11.5%)	$98.97M (+9.8%)	0.7%	$25.22	+5.3%	COM	981475106
UTMD	UTAH MED PRODS INC	449,279 (+27.9%)	$27.85M (+41.7%)	0.2%	$64.84	-4.2%	COM	917488108
AOUT	AMERICAN OUTDOOR BRANDS INC	2,428,930 (+28.7%)	$22.69M (+55.5%)	0.2%	$9.63	-7.3%	COM	02875D109
PHG	KONINKLIJKE PHILIPS N V	1,988,923 (+15.2%)	$54.5M (+16.6%)	0.4%	$23.14	—	NY REGIS SHS NEW	500472303
MSM	MSC INDL DIRECT INC	372,515 (+16.8%)	$34.37M (+28.1%)	0.2%	$82.27	+8.0%	CL A	553530106
KVUE	KENVUE INC	3,484,968 (+12.6%)	$60.08M (+12.5%)	0.4%	$18.51	-4.6%	COM	49177J102
EMBJ	EMBRAER S.A.	5,703,945 (+10.6%)	$338M (+2.0%)	2.4%	$23.67	—	SPONSORED ADS	29082A107
ORN	ORION GROUP HLDGS INC	5,159,835 (+3.0%)	$56.24M (+12.9%)	0.4%	$6.07	+103.5%	COM	68628V308
SMG	SCOTTS MIRACLE-GRO CO	808,807 (+9.7%)	$49.18M (+14.3%)	0.3%	$56.23	+14.4%	CL A	810186106
CTSH	COGNIZANT TECHNOLOGY SOLUTIO	3,042,840 (+31.0%)	$187M (-3.2%)	1.3%	$67.66	+13.5%	CL A	192446102
ACGL	ARCH CAP GROUP LTD	1,772,372 (+3.6%)	$170M (+3.7%)	1.2%	$94.31	+1.6%	ORD	G0450A105
SON	SONOCO PRODS CO	403,630 (+9.5%)	$21.83M (+35.8%)	0.2%	$43.98	+14.4%	COM	835495102
CMCSA	COMCAST CORP NEW	6,429,738 (+7.3%)	$185M (+3.0%)	1.3%	$36.72	-18.8%	CL A	20030N101
CVS	CVS HEALTH CORP	1,969,801 (+6.7%)	$141M (-3.4%)	1.0%	$62.35	+25.1%	COM	126650100
GOOG	ALPHABET INC	293,577 (+3.5%)	$84.22M (-5.4%)	0.6%	$129.71	+149.5%	CAP STK CL C	02079K107
CPA	COPA HOLDINGS SA	736,228 (+12.5%)	$83.64M (+6.0%)	0.6%	$80.28	+73.0%	CL A	P31076105
FSTR	FOSTER L B CO	1,481,323 (+8.9%)	$41.33M (+12.7%)	0.3%	$19.22	+55.7%	COM	350060109
EMR	EMERSON ELEC CO	953,506 (+5.0%)	$125M (+3.7%)	0.9%	$75.09	+97.7%	COM	291011104
SNN	SMITH & NEPHEW PLC	1,342,198 (+13.6%)	$42.66M (+10.1%)	0.3%	$27.51	—	SPDN ADR NEW	83175M205
LNSR	LENSAR INC	1,025,176 (+19.7%)	$6.11M (-38.6%)	0.0%	$8.22	+46.4%	COM	52634L108
WTW	WILLIS TOWERS WATSON PLC LTD	299,036 (+8.5%)	$86.93M (-4.0%)	0.6%	$239.83	+31.3%	SHS	G96629103
MOV	MOVADO GROUP INC	739,192 (+5.0%)	$18.05M (+24.3%)	0.1%	$16.73	+40.4%	COM	624580106
GOOGL	ALPHABET INC	353,899 (+5.5%)	$102M (-3.1%)	0.7%	$128.87	+150.9%	CAP STK CL A	02079K305
SCHL	SCHOLASTIC CORP	291,888 (+4.4%)	$11.4M (+37.6%)	0.1%	$23.93	+40.6%	COM	807066105
PNC	PNC FINL SVCS GROUP INC	814,000 (+2.0%)	$169M (+1.7%)	1.2%	$125.89	+78.7%	COM	693475105
ENIC	ENEL CHILE SA	6,009,907 (+14.0%)	$23.68M (+11.8%)	0.2%	$3.12	—	SPONSORED ADR	29278D105
GRFS	GRIFOLS S A	36,333,714 (+17.4%)	$291M (+0.7%)	2.1%	$9.10	—	SP ADR REP B NVT	398438408
FTRE	FORTREA HLDGS INC	307,267 (+10.0%)	$2.894M (-39.9%)	0.0%	$13.56	+9.0%	COMMON STOCK	34965K107
HMC	HONDA MOTOR CO LTD	1,229,723 (+29.0%)	$29.89M (+6.4%)	0.2%	$27.44	—	ADR ECH CNV IN 3	438128308
WPP	WPP PLC NEW	898,714 (+28.0%)	$13.98M (-11.4%)	0.1%	$40.52	—	ADR	92937A102
C	CITIGROUP INC	2,444,489 (+3.5%)	$277M (+0.6%)	2.0%	$47.74	+143.4%	COM NEW	172967424
OMC	OMNICOM GROUP INC	1,145,912 (+5.2%)	$86.3M (-1.9%)	0.6%	$74.01	+3.4%	COM	681919106
SYY	SYSCO CORP	905,717 (+5.7%)	$64.61M (+2.3%)	0.5%	$74.00	+11.1%	COM	871829107
CENTA	CENTRAL GARDEN & PET CO	119,994 (+40.7%)	$3.89M (+56.2%)	0.0%	$29.66	+6.2%	CL A NON-VTG	153527205
QRVO	QORVO INC	464,880 (+5.2%)	$35.98M (-3.7%)	0.3%	$102.41	-19.7%	COM	74736K101
TIMB	TIM S A	160,786 (+7.4%)	$4.259M (+46.3%)	0.0%	$14.39	—	SPONSORED ADR	88706T108
TFC	TRUIST FINL CORP	832,427 (+3.7%)	$38.27M (-3.1%)	0.3%	$35.78	+42.9%	COM	89832Q109
XRAY	DENTSPLY SIRONA INC	939,106 (+9.6%)	$10.89M (+11.2%)	0.1%	$14.53	-13.2%	COM	24906P109
ZBH	ZIMMER BIOMET HOLDINGS INC	59,440 (+21.6%)	$5.375M (+22.3%)	0.0%	$97.00	-5.5%	COM	98956P102
GLOB	GLOBANT S A	3,424,400 (+42.6%)	$158M (+0.6%)	1.1%	$69.35	-13.0%	COM	L44385109
HURC	HURCO CO	591,406 (+16.9%)	$8.7M (+11.3%)	0.1%	$22.03	-22.7%	COM	447324104
AVT	AVNET INC	37,755 (+14.9%)	$2.326M (+47.3%)	0.0%	$49.77	+17.1%	COM	053807103
HTLD	HEARTLAND EXPRESS INC	276,427 (+13.1%)	$2.875M (+30.3%)	0.0%	$9.63	+12.1%	COM	422347104
FFIV	F5 INC	12,928 (+6.7%)	$3.74M (+21.0%)	0.0%	$183.68	+48.3%	COM	315616102
AGCO	AGCO CORP	24,922 (+15.0%)	$2.888M (+27.7%)	0.0%	$102.45	+18.2%	COM	001084102
MZTI	MARZETTI COMPANY	17,317 (+57.4%)	$2.395M (+32.4%)	0.0%	$172.21	-4.5%	COM	513847103
CFG	CITIZENS FINL GROUP INC	76,001 (+11.8%)	$4.558M (+14.7%)	0.0%	$40.39	+56.3%	COM	174610105
CPB	THE CAMPBELLS COMPANY	167,214 (+48.0%)	$3.724M (+18.3%)	0.0%	$31.00	-12.0%	COM	134429109
UTHR	UNITED THERAPEUTICS CORP DEL	4,281 (+5.9%)	$2.539M (+28.8%)	0.0%	$314.74	+52.6%	COM	91307C102
RGP	RESOURCES CONNECTION INC	1,811,479 (+25.6%)	$6.757M (-7.1%)	0.0%	$6.41	-32.1%	COM	76122Q105
MD	PEDIATRIX MEDICAL GROUP INC	465,941 (+5.4%)	$9.966M (+5.4%)	0.1%	$14.06	+51.2%	COM	58502B106
SUZ	SUZANO S A	269,437 (+12.3%)	$2.697M (+20.3%)	0.0%	$10.19	—	SPON ADS	86959K105
STT	STATE STR CORP	374,383 (+1.1%)	$47.38M (-0.9%)	0.3%	$63.86	+104.0%	COM	857477103
LSTR	LANDSTAR SYS INC	9,370 (+22.7%)	$1.502M (+36.9%)	0.0%	$150.99	—	COM	515098101
FMX	FOMENTO ECONOMICO MEXICANO S	22,647 (+6.7%)	$2.515M (+17.3%)	0.0%	$97.00	—	SPON ADR UNITS	344419106
BDX	BECTON DICKINSON & CO	1,515,604 (+23.2%)	$238M (-0.1%)	1.7%	$179.21	-6.4%	COM	075887109
HDB	HDFC BANK LTD	119,206 (+31.9%)	$2.966M (-10.2%)	0.0%	$42.86	—	SPONSORED ADS	40415F101
EXE	EXPAND ENERGY CORPORATION	26,303 (+13.7%)	$2.888M (+13.1%)	0.0%	$77.98	+35.7%	COM	165167735
VTMX	VESTA REAL ESTATE CORP	52,724 (+12.2%)	$1.758M (+22.7%)	0.0%	$27.30	—	ADS	92540K109
TLK	TELEKOMUNIKASI IND	165,762 (+2.7%)	$3.096M (-8.8%)	0.0%	$15.36	—	SPONSORED ADR	715684106
SEIC	SEI INVTS CO	40,604 (+13.9%)	$3.186M (+8.9%)	0.0%	$74.26	+13.4%	COM	784117103
WHR	WHIRLPOOL CORP	62,190 (+43.6%)	$3.353M (+7.3%)	0.0%	$84.68	-1.5%	COM	963320106
HSIC	SCHEIN HENRY INC	25,942 (+15.7%)	$1.912M (+12.8%)	0.0%	$71.78	+8.7%	COM	806407102
WFG	WEST FRASER TIMBER LTD	14,325 (+20.6%)	$935K (+28.9%)	0.0%	$63.74	+8.8%	COM	952845105
SHC	SOTERA HEALTH CO	168,223 (+13.2%)	$2.412M (-8.0%)	0.0%	$14.04	+28.5%	COM	83601L102
OGN	ORGANON & CO	691,625 (+14.0%)	$4.143M (-4.7%)	0.0%	$10.32	-20.3%	COMMON STOCK	68622V106
KOF	COCA-COLA FEMSA SAB DE CV	30,875 (+2.8%)	$3.012M (+5.8%)	0.0%	$93.73	—	SPONS ADS REP	191241108
WTM	WHITE MTNS INS GROUP LTD	698 (+5.0%)	$1.533M (+11.0%)	0.0%	$1743.47	+20.9%	COM	G9618E107
LEVI	LEVI STRAUSS & CO NEW	124,693 (+12.8%)	$2.306M (+0.6%)	0.0%	$17.86	+19.1%	CL A COM STK	52736R102
ORI	OLD REP INTL CORP	40,452 (+13.6%)	$1.614M (-0.7%)	0.0%	$27.71	+50.0%	COM	680223104

Exited Positions (14)

GIL GILDAN ACTIVEWEAR INC 0.7%

Value $99.87M Shares 1,598,946 Est. Cost $59.45 Unrealized +13.4%

UWMC UWM HOLDINGS CORPORATION 0.3%

Value $45.87M Shares 10,471,859 Est. Cost $5.38 Unrealized -5.6%

GTES GATES INDL CORP PLC 0.2%

Value $24.27M Shares 1,130,476 Est. Cost $15.13 Unrealized +63.2%

E ENI S P A 0.1%

Value $15.58M Shares 410,556 Est. Cost $29.35 Unrealized —

— AVADEL PHARMACEUTICALS PLC 0.0%

Value $4.707M Shares 218,425 Est. Cost $9.61 Unrealized —

HOLX HOLOGIC INC 0.0%

Value $3.342M Shares 44,864 Est. Cost $64.61 Unrealized +16.1%

SEB SEABOARD CORP DEL 0.0%

Value $2.058M Shares 463 Est. Cost $2994.62 Unrealized +65.1%

VWO VANGUARD INTL EQUITY INDEX F 0.0%

Value $1.337M Shares 24,869 Est. Cost $53.76 Unrealized —

HSBC HSBC HLDGS PLC 0.0%

Value $801K Shares 10,175 Est. Cost $38.08 Unrealized —

AIG AMERICAN INTL GROUP INC 0.0%

Value $389K Shares 4,552 Est. Cost $47.75 Unrealized +59.8%

GTE GRAN TIERRA ENERGY INC 0.0%

Value $271K Shares 63,869 Est. Cost $6.49 Unrealized -18.2%

VEA VANGUARD TAX-MANAGED FDS 0.0%

Value $263K Shares 4,208 Est. Cost $62.47 Unrealized —

VSS VANGUARD INTL EQUITY INDEX F 0.0%

Value $221K Shares 1,542 Est. Cost $143.33 Unrealized —

RTO RENTOKIL INITIAL PLC 0.0%

Value $212K Shares 7,054 Est. Cost $30.10 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GIL	GILDAN ACTIVEWEAR INC	1,598,946	$99.87M	0.7%	$59.45	+13.4%	—	375916103
UWMC	UWM HOLDINGS CORPORATION	10,471,859	$45.87M	0.3%	$5.38	-5.6%	—	91823B109
GTES	GATES INDL CORP PLC	1,130,476	$24.27M	0.2%	$15.13	+63.2%	—	G39108108
E	ENI S P A	410,556	$15.58M	0.1%	$29.35	—	—	26874R108
—	AVADEL PHARMACEUTICALS PLC	218,425	$4.707M	0.0%	$9.61	—	—	G29687103
HOLX	HOLOGIC INC	44,864	$3.342M	0.0%	$64.61	+16.1%	—	436440101
SEB	SEABOARD CORP DEL	463	$2.058M	0.0%	$2994.62	+65.1%	—	811543107
VWO	VANGUARD INTL EQUITY INDEX F	24,869	$1.337M	0.0%	$53.76	—	—	922042858
HSBC	HSBC HLDGS PLC	10,175	$801K	0.0%	$38.08	—	—	404280406
AIG	AMERICAN INTL GROUP INC	4,552	$389K	0.0%	$47.75	+59.8%	—	026874784
GTE	GRAN TIERRA ENERGY INC	63,869	$271K	0.0%	$6.49	-18.2%	—	38500T200
VEA	VANGUARD TAX-MANAGED FDS	4,208	$263K	0.0%	$62.47	—	—	921943858
VSS	VANGUARD INTL EQUITY INDEX F	1,542	$221K	0.0%	$143.33	—	—	922042718
RTO	RENTOKIL INITIAL PLC	7,054	$212K	0.0%	$30.10	—	—	760125104

Decreased Positions (51)

CAH CARDINAL HEALTH INC 0.4%

Value $54.5M (-66.1%) Shares 257,924 (-67.0%) Est. Cost $61.28 Unrealized +251.4%

KMT KENNAMETAL INC 1.3%

Value $190M (-34.6%) Shares 5,265,280 (-48.5%) Est. Cost $21.69 Unrealized +64.2%

CTVA CORTEVA INC 0.5%

Value $74.97M (-51.6%) Shares 895,553 (-61.3%) Est. Cost $48.60 Unrealized +49.7%

SEE SEALED AIR CORP NEW 0.0%

Value $971K (-97.9%) Shares 23,092 (-97.9%) Est. Cost $31.95 Unrealized +30.8%

CX CEMEX SA EURO MTN BE 144A 0.7%

Value $104M (-29.5%) Shares 9,098,991 (-29.2%) Est. Cost $6.07 Unrealized —

NTR NUTRIEN LTD 0.5%

Value $71.21M (-37.9%) Shares 943,685 (-49.2%) Est. Cost $52.30 Unrealized +30.2%

FDX FEDEX CORP 1.8%

Value $252M (+20.4%) Shares 706,467 (-2.3%) Est. Cost $211.63 Unrealized +60.2%

MU MICRON TECHNOLOGY INC 0.9%

Value $132M (-21.6%) Shares 391,792 (-33.7%) Est. Cost $74.15 Unrealized +421.9%

HAL HALLIBURTON CO 1.7%

Value $245M (+15.0%) Shares 6,291,344 (-16.7%) Est. Cost $24.05 Unrealized +39.4%

TKR TIMKEN CO 0.2%

Value $25.46M (-54.6%) Shares 253,187 (-62.1%) Est. Cost $72.09 Unrealized +36.5%

ELAN ELANCO ANIMAL HEALTH INC 0.5%

Value $66.5M (-30.1%) Shares 2,778,908 (-33.9%) Est. Cost $12.06 Unrealized +103.8%

TIGO MILLICOM INTL CELLULAR S A 1.7%

Value $244M (-8.9%) Shares 3,261,016 (-32.6%) Est. Cost $20.62 Unrealized +196.2%

WRB BERKLEY W R CORP 0.2%

Value $34.02M (-40.7%) Shares 513,217 (-37.3%) Est. Cost $45.82 Unrealized +51.6%

JNJ JOHNSON & JOHNSON 0.5%

Value $68.36M (-21.2%) Shares 279,660 (-33.3%) Est. Cost $142.02 Unrealized +60.5%

HCA HCA HEALTHCARE INC 1.1%

Value $162M (-10.1%) Shares 343,224 (-11.3%) Est. Cost $211.45 Unrealized +135.5%

PBR/A PETROLEO BRASILEIRO S A 0.6%

Value $79.42M (+28.3%) Shares 4,235,628 (-22.9%) Est. Cost $11.82 Unrealized —

MRK MERCK & CO INC 2.0%

Value $277M (+6.6%) Shares 2,302,562 (-6.7%) Est. Cost $78.01 Unrealized +46.5%

GHM GRAHAM CORP 0.7%

Value $92.41M (+15.4%) Shares 1,170,981 (-6.1%) Est. Cost $19.34 Unrealized +291.9%

CVX CHEVRON CORPORATION 0.7%

Value $99.97M (+12.2%) Shares 483,160 (-17.4%) Est. Cost $104.05 Unrealized +65.2%

TTE TOTALENERGIES SE 0.5%

Value $64.73M (+19.7%) Shares 693,857 (-16.2%) Est. Cost $63.23 Unrealized +13.1%

LKQ LKQ CORP 0.3%

Value $47.81M (-16.7%) Shares 1,627,869 (-14.3%) Est. Cost $37.48 Unrealized -11.3%

JPM JPMORGAN CHASE & CO 0.3%

Value $42.85M (-17.4%) Shares 145,662 (-9.5%) Est. Cost $111.80 Unrealized +178.5%

VBR VANGUARD INDEX FDS 0.0%

Value $1.771M (-82.9%) Shares 8,152 (-83.3%) Est. Cost $211.42 Unrealized —

NWG NATWEST GROUP PLC 0.0%

Value $192K (-97.8%) Shares 12,878 (-97.4%) Est. Cost $6.21 Unrealized —

PKE PARK AEROSPACE CORP 0.5%

Value $76.18M (+11.9%) Shares 2,782,337 (-12.8%) Est. Cost $13.66 Unrealized +78.8%

NVS NOVARTIS AG 0.2%

Value $28.96M (-20.1%) Shares 189,570 (-27.9%) Est. Cost $101.51 Unrealized —

EBMT EAGLE BANCORP MONT INC 0.0%

Value $1.337M (-83.8%) Shares 64,963 (-84.3%) Est. Cost $14.79 Unrealized +45.0%

INVX INNOVEX INTERNATIONAL INC 1.1%

Value $161M (-4.1%) Shares 6,583,415 (-14.0%) Est. Cost $15.83 Unrealized +58.0%

IXUS ISHARES TR 0.0%

Value $5.925M (-52.4%) Shares 68,387 (-53.5%) Est. Cost $84.59 Unrealized —

MCK MCKESSON CORP 1.1%

Value $149M (-3.4%) Shares 172,487 (-8.4%) Est. Cost $303.49 Unrealized +188.5%

ETR ENTERGY CORP NEW 0.3%

Value $41.65M (+14.3%) Shares 370,712 (-6.0%) Est. Cost $61.57 Unrealized +58.1%

HCSG HEALTHCARE SVCS GROUP INC 0.1%

Value $8.506M (-36.9%) Shares 458,556 (-35.0%) Est. Cost $12.20 Unrealized +60.7%

VTV VANGUARD INDEX FDS 0.0%

Value $304K (-94.0%) Shares 1,547 (-94.2%) Est. Cost $189.21 Unrealized —

GSK GSK PLC 0.6%

Value $80.19M (-5.2%) Shares 1,453,002 (-15.7%) Est. Cost $36.78 Unrealized —

HXL HEXCEL CORP NEW 1.3%

Value $181M (-2.4%) Shares 2,234,325 (-10.8%) Est. Cost $59.28 Unrealized +42.4%

MOG/A MOOG INC 0.6%

Value $83.9M (-3.3%) Shares 286,709 (-19.5%) Est. Cost $116.12 Unrealized +160.5%

STM STMICROELECTRONICS N V 0.3%

Value $37.97M (-6.6%) Shares 1,098,931 (-29.9%) Est. Cost $24.42 Unrealized —

NPK NATIONAL PRESTO INDS INC 0.0%

Value $5.511M (-26.7%) Shares 40,208 (-42.9%) Est. Cost $81.24 Unrealized +51.8%

UNF UNIFIRST CORP MASS 0.5%

Value $69.05M (-2.7%) Shares 274,466 (-25.4%) Est. Cost $172.27 Unrealized +24.4%

NKSH NATIONAL BANKSHARES INC VA 0.0%

Value $7.042M (-14.1%) Shares 193,422 (-20.9%) Est. Cost $27.64 Unrealized +31.2%

FLEX FLEXTRONICS INTL LTD 0.4%

Value $49.56M (+2.3%) Shares 757,115 (-5.6%) Est. Cost $16.65 Unrealized +284.4%

VT VANGUARD INTL EQUITY INDEX F 0.0%

Value $1.251M (-35.1%) Shares 9,045 (-33.9%) Est. Cost $141.06 Unrealized —

BAP CREDICORP LTD 0.0%

Value $4.944M (+10.0%) Shares 14,575 (-6.9%) Est. Cost $143.76 Unrealized +134.3%

IPGP IPG PHOTONICS CORP 0.1%

Value $11.13M (+2.8%) Shares 97,092 (-35.8%) Est. Cost $71.60 Unrealized +42.0%

ZTO ZTO EXPRESS CAYMAN INC 0.0%

Value $2.236M (-7.5%) Shares 88,827 (-23.2%) Est. Cost $24.02 Unrealized —

MUFG MITSUBISHI UFJ FINANCIAL GRO 0.0%

Value $210K (-40.0%) Shares 12,392 (-43.9%) Est. Cost $7.77 Unrealized —

UPS UNITED PARCEL SVCS INC 0.0%

Value $1.176M (-9.4%) Shares 11,953 (-8.7%) Est. Cost $104.62 Unrealized +5.0%

BK BANK NEW YORK MELLON CORP 0.3%

Value $44.49M (+0.3%) Shares 375,005 (-1.9%) Est. Cost $37.77 Unrealized +218.1%

BTI BRITISH AMERN TOB PLC 0.0%

Value $587K (-12.4%) Shares 10,041 (-15.1%) Est. Cost $32.14 Unrealized —

BRC BRADY CORP 0.0%

Value $4.819M (-0.1%) Shares 59,318 (-3.7%) Est. Cost $72.15 Unrealized +21.5%

SHG SHINHAN FINANCIAL GROUP CO L 0.0%

Value $3.286M (+0.0%) Shares 53,592 (-12.5%) Est. Cost $30.38 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CAH	CARDINAL HEALTH INC	257,924 (-67.0%)	$54.5M (-66.1%)	0.4%	$61.28	+251.4%	COM	14149Y108
KMT	KENNAMETAL INC	5,265,280 (-48.5%)	$190M (-34.6%)	1.3%	$21.69	+64.2%	COM	489170100
CTVA	CORTEVA INC	895,553 (-61.3%)	$74.97M (-51.6%)	0.5%	$48.60	+49.7%	COM	22052L104
SEE	SEALED AIR CORP NEW	23,092 (-97.9%)	$971K (-97.9%)	0.0%	$31.95	+30.8%	COM	81211K100
CX	CEMEX SA EURO MTN BE 144A	9,098,991 (-29.2%)	$104M (-29.5%)	0.7%	$6.07	—	SPON ADR NEW	151290889
NTR	NUTRIEN LTD	943,685 (-49.2%)	$71.21M (-37.9%)	0.5%	$52.30	+30.2%	COM	67077M108
FDX	FEDEX CORP	706,467 (-2.3%)	$252M (+20.4%)	1.8%	$211.63	+60.2%	COM	31428X106
MU	MICRON TECHNOLOGY INC	391,792 (-33.7%)	$132M (-21.6%)	0.9%	$74.15	+421.9%	COM	595112103
HAL	HALLIBURTON CO	6,291,344 (-16.7%)	$245M (+15.0%)	1.7%	$24.05	+39.4%	COM	406216101
TKR	TIMKEN CO	253,187 (-62.1%)	$25.46M (-54.6%)	0.2%	$72.09	+36.5%	COM	887389104
ELAN	ELANCO ANIMAL HEALTH INC	2,778,908 (-33.9%)	$66.5M (-30.1%)	0.5%	$12.06	+103.8%	COM	28414H103
TIGO	MILLICOM INTL CELLULAR S A	3,261,016 (-32.6%)	$244M (-8.9%)	1.7%	$20.62	+196.2%	COM STK	L6388F110
WRB	BERKLEY W R CORP	513,217 (-37.3%)	$34.02M (-40.7%)	0.2%	$45.82	+51.6%	COM	084423102
JNJ	JOHNSON & JOHNSON	279,660 (-33.3%)	$68.36M (-21.2%)	0.5%	$142.02	+60.5%	COM	478160104
HCA	HCA HEALTHCARE INC	343,224 (-11.3%)	$162M (-10.1%)	1.1%	$211.45	+135.5%	COM	40412C101
PBR/A	PETROLEO BRASILEIRO S A	4,235,628 (-22.9%)	$79.42M (+28.3%)	0.6%	$11.82	—	SP ADR NON VTG	71654V101
MRK	MERCK & CO INC	2,302,562 (-6.7%)	$277M (+6.6%)	2.0%	$78.01	+46.5%	COM	58933Y105
GHM	GRAHAM CORP	1,170,981 (-6.1%)	$92.41M (+15.4%)	0.7%	$19.34	+291.9%	COM	384556106
CVX	CHEVRON CORPORATION	483,160 (-17.4%)	$99.97M (+12.2%)	0.7%	$104.05	+65.2%	COM	166764100
TTE	TOTALENERGIES SE	693,857 (-16.2%)	$64.73M (+19.7%)	0.5%	$63.23	+13.1%	ACT	F92124100
LKQ	LKQ CORP	1,627,869 (-14.3%)	$47.81M (-16.7%)	0.3%	$37.48	-11.3%	COM	501889208
JPM	JPMORGAN CHASE & CO	145,662 (-9.5%)	$42.85M (-17.4%)	0.3%	$111.80	+178.5%	COM	46625H100
VBR	VANGUARD INDEX FDS	8,152 (-83.3%)	$1.771M (-82.9%)	0.0%	$211.42	—	SM CP VAL ETF	922908611
NWG	NATWEST GROUP PLC	12,878 (-97.4%)	$192K (-97.8%)	0.0%	$6.21	—	SPONS ADR	639057207
PKE	PARK AEROSPACE CORP	2,782,337 (-12.8%)	$76.18M (+11.9%)	0.5%	$13.66	+78.8%	COM	70014A104
NVS	NOVARTIS AG	189,570 (-27.9%)	$28.96M (-20.1%)	0.2%	$101.51	—	SPONSORED ADR	66987V109
EBMT	EAGLE BANCORP MONT INC	64,963 (-84.3%)	$1.337M (-83.8%)	0.0%	$14.79	+45.0%	COM	26942G100
INVX	INNOVEX INTERNATIONAL INC	6,583,415 (-14.0%)	$161M (-4.1%)	1.1%	$15.83	+58.0%	COM	457651107
IXUS	ISHARES TR	68,387 (-53.5%)	$5.925M (-52.4%)	0.0%	$84.59	—	CORE MSCI TOTAL	46432F834
MCK	MCKESSON CORP	172,487 (-8.4%)	$149M (-3.4%)	1.1%	$303.49	+188.5%	COM	58155Q103
ETR	ENTERGY CORP NEW	370,712 (-6.0%)	$41.65M (+14.3%)	0.3%	$61.57	+58.1%	COM	29364G103
HCSG	HEALTHCARE SVCS GROUP INC	458,556 (-35.0%)	$8.506M (-36.9%)	0.1%	$12.20	+60.7%	COM	421906108
VTV	VANGUARD INDEX FDS	1,547 (-94.2%)	$304K (-94.0%)	0.0%	$189.21	—	VALUE ETF	922908744
GSK	GSK PLC	1,453,002 (-15.7%)	$80.19M (-5.2%)	0.6%	$36.78	—	SPONSORED ADR	37733W204
HXL	HEXCEL CORP NEW	2,234,325 (-10.8%)	$181M (-2.4%)	1.3%	$59.28	+42.4%	COM	428291108
MOG/A	MOOG INC	286,709 (-19.5%)	$83.9M (-3.3%)	0.6%	$116.12	+160.5%	CL A	615394202
STM	STMICROELECTRONICS N V	1,098,931 (-29.9%)	$37.97M (-6.6%)	0.3%	$24.42	—	NY REGISTRY	861012102
NPK	NATIONAL PRESTO INDS INC	40,208 (-42.9%)	$5.511M (-26.7%)	0.0%	$81.24	+51.8%	COM	637215104
UNF	UNIFIRST CORP MASS	274,466 (-25.4%)	$69.05M (-2.7%)	0.5%	$172.27	+24.4%	COM	904708104
NKSH	NATIONAL BANKSHARES INC VA	193,422 (-20.9%)	$7.042M (-14.1%)	0.0%	$27.64	+31.2%	COM	634865109
FLEX	FLEXTRONICS INTL LTD	757,115 (-5.6%)	$49.56M (+2.3%)	0.4%	$16.65	+284.4%	ORD	Y2573F102
VT	VANGUARD INTL EQUITY INDEX F	9,045 (-33.9%)	$1.251M (-35.1%)	0.0%	$141.06	—	TT WRLD ST ETF	922042742
BAP	CREDICORP LTD	14,575 (-6.9%)	$4.944M (+10.0%)	0.0%	$143.76	+134.3%	COM	G2519Y108
IPGP	IPG PHOTONICS CORP	97,092 (-35.8%)	$11.13M (+2.8%)	0.1%	$71.60	+42.0%	COM	44980X109
ZTO	ZTO EXPRESS CAYMAN INC	88,827 (-23.2%)	$2.236M (-7.5%)	0.0%	$24.02	—	SPONSORED ADS A	98980A105
MUFG	MITSUBISHI UFJ FINANCIAL GRO	12,392 (-43.9%)	$210K (-40.0%)	0.0%	$7.77	—	SPONSORED ADS	606822104
UPS	UNITED PARCEL SVCS INC	11,953 (-8.7%)	$1.176M (-9.4%)	0.0%	$104.62	+5.0%	CL B	911312106
BK	BANK NEW YORK MELLON CORP	375,005 (-1.9%)	$44.49M (+0.3%)	0.3%	$37.77	+218.1%	COM	064058100
BTI	BRITISH AMERN TOB PLC	10,041 (-15.1%)	$587K (-12.4%)	0.0%	$32.14	—	SPONSORED ADR	110448107
BRC	BRADY CORP	59,318 (-3.7%)	$4.819M (-0.1%)	0.0%	$72.15	+21.5%	CL A	104674106
SHG	SHINHAN FINANCIAL GROUP CO L	53,592 (-12.5%)	$3.286M (+0.0%)	0.0%	$30.38	—	SPN ADR RESTRD	824596100

Unchanged Positions (6)

UBS UBS GROUP AG 0.4%

Value $53.47M Shares 1,368,472 Est. Cost $23.20 Unrealized +96.4%

CNH CNH INDL N V 0.2%

Value $29.92M Shares 2,720,192 Est. Cost $10.63 Unrealized +7.4%

OMF ONEMAIN HLDGS INC 0.0%

Value $6.245M Shares 116,751 Est. Cost $49.72 Unrealized +27.2%

IQV IQVIA HLDGS INC 0.0%

Value $5.03M Shares 29,496 Est. Cost $164.68 Unrealized +27.6%

CNA CNA FINL CORP 0.0%

Value $839K Shares 18,264 Est. Cost $39.85 Unrealized +19.6%

RCI ROGERS COMMUNICATIONS INC 0.0%

Value $1.769M Shares 45,998 Est. Cost $38.81 Unrealized -3.8%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UBS	UBS GROUP AG	1,368,472	$53.47M	0.4%	$23.20	+96.4%	SHS	H42097107
CNH	CNH INDL N V	2,720,192	$29.92M	0.2%	$10.63	+7.4%	SHS	N20944109
OMF	ONEMAIN HLDGS INC	116,751	$6.245M	0.0%	$49.72	+27.2%	COM	68268W103
IQV	IQVIA HLDGS INC	29,496	$5.03M	0.0%	$164.68	+27.6%	COM	46266C105
CNA	CNA FINL CORP	18,264	$839K	0.0%	$39.85	+19.6%	COM	126117100
RCI	ROGERS COMMUNICATIONS INC	45,998	$1.769M	0.0%	$38.81	-3.8%	CL B	775109200