Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
DELL	Dell Technologies Inc	243,898 (+27.6%)	$105M (+235.5%)	9.6%	$186.65	—	Cl C	24703L202
RKT	Rocket Cos Inc	2,612,387 (+43.9%)	$41.15M (+59.1%)	3.8%	$13.21	—	Com Cl A	77311W101
AER	Aercap Holdings NV	333,570 (+24.0%)	$48.63M (+31.8%)	4.4%	$129.10	—	Shs	N00985106
EQH	Equitable Hldgs Inc	766,929 (+13.5%)	$33.65M (+34.3%)	3.1%	$50.40	—	Com	29452E101
CRBG	Corebridge Finl Inc	1,010,345 (+16.2%)	$28.93M (+39.5%)	2.6%	$30.15	—	Com	21871X109
CI	The Cigna Group	94,763 (+36.2%)	$26.12M (+40.8%)	2.4%	$201.58	—	Com	125523100

Decreased Positions (17)

TMHC Taylor Morrison Home Corp 1.4%

Value $15.84M (-65.7%) Shares 220,735 (-72.2%) Est. Cost $24.78 Unrealized —

PRIM Primoris Svcs Corp 3.4%

Value $37.75M (-39.6%) Shares 380,845 (-12.9%) Est. Cost $32.11 Unrealized —

RHP Ryman Hospitality Pptys Inc 6.0%

Value $65.56M (+37.3%) Shares 509,964 (-1.5%) Est. Cost $51.29 Unrealized —

AES AES Corp 0.0%

Value $246K (-98.0%) Shares 16,750 (-98.1%) Est. Cost $12.33 Unrealized —

MTZ MasTec Inc 0.6%

Value $6.709M (-58.8%) Shares 16,125 (-68.2%) Est. Cost $43.92 Unrealized —

CFG Citizens Finl Group Inc 6.1%

Value $67.11M (+15.2%) Shares 957,732 (-1.4%) Est. Cost $26.38 Unrealized —

ALLY Ally Finl Inc 3.7%

Value $40.79M (+15.6%) Shares 887,801 (-1.3%) Est. Cost $25.06 Unrealized —

PAG Penske Automotive Grp Inc 2.8%

Value $30.78M (+17.5%) Shares 171,994 (-1.8%) Est. Cost $45.72 Unrealized —

KMI Kinder Morgan Inc Del 4.1%

Value $45.36M (-9.1%) Shares 1,418,976 (-4.6%) Est. Cost $16.27 Unrealized —

AMG Affiliated Managers Group Inc 6.5%

Value $71.1M (+2.9%) Shares 210,094 (-15.9%) Est. Cost $137.72 Unrealized —

NXST Nexstar Media Group Inc 2.8%

Value $30.96M (-2.9%) Shares 173,364 (-1.7%) Est. Cost $157.23 Unrealized —

ALSN Allison Transmission Hldgs 1.6%

Value $17.5M (-4.9%) Shares 155,235 (-1.3%) Est. Cost $87.50 Unrealized —

SPG Simon Ppty Group Inc New 0.5%

Value $5.534M (+12.1%) Shares 24,746 (-6.5%) Est. Cost $101.88 Unrealized —

BLDP Ballard Pwr Sys Inc New 0.0%

Value $505K (+55.3%) Shares 129,818 (-3.4%) Est. Cost $17.84 Unrealized —

BAM Brookfield Asset Managmt Ltd 1.1%

Value $12.14M (-0.4%) Shares 270,666 (-1.3%) Est. Cost $27.22 Unrealized —

BRK/B Berkshire Hathaway Inc Del 0.1%

Value $907K (+2.6%) Shares 1,812 (-1.7%) Est. Cost $115.78 Unrealized —

BNT Brookfield Wealth Sol Ltd 0.0%

Value $291K (+0.4%) Shares 6,828 (-2.5%) Est. Cost $32.16 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TMHC	Taylor Morrison Home Corp	220,735 (-72.2%)	$15.84M (-65.7%)	1.4%	$24.78	—	Com	87724P106
PRIM	Primoris Svcs Corp	380,845 (-12.9%)	$37.75M (-39.6%)	3.4%	$32.11	—	Com	74164F103
RHP	Ryman Hospitality Pptys Inc	509,964 (-1.5%)	$65.56M (+37.3%)	6.0%	$51.29	—	Com	78377T107
AES	AES Corp	16,750 (-98.1%)	$246K (-98.0%)	0.0%	$12.33	—	Com	00130H105
MTZ	MasTec Inc	16,125 (-68.2%)	$6.709M (-58.8%)	0.6%	$43.92	—	Com	576323109
CFG	Citizens Finl Group Inc	957,732 (-1.4%)	$67.11M (+15.2%)	6.1%	$26.38	—	Com	174610105
ALLY	Ally Finl Inc	887,801 (-1.3%)	$40.79M (+15.6%)	3.7%	$25.06	—	Com	02005N100
PAG	Penske Automotive Grp Inc	171,994 (-1.8%)	$30.78M (+17.5%)	2.8%	$45.72	—	Com	70959W103
KMI	Kinder Morgan Inc Del	1,418,976 (-4.6%)	$45.36M (-9.1%)	4.1%	$16.27	—	Com	49456B101
AMG	Affiliated Managers Group Inc	210,094 (-15.9%)	$71.1M (+2.9%)	6.5%	$137.72	—	Com	008252108
NXST	Nexstar Media Group Inc	173,364 (-1.7%)	$30.96M (-2.9%)	2.8%	$157.23	—	Common Stock	65336K103
ALSN	Allison Transmission Hldgs	155,235 (-1.3%)	$17.5M (-4.9%)	1.6%	$87.50	—	Com	01973R101
SPG	Simon Ppty Group Inc New	24,746 (-6.5%)	$5.534M (+12.1%)	0.5%	$101.88	—	Com	828806109
BLDP	Ballard Pwr Sys Inc New	129,818 (-3.4%)	$505K (+55.3%)	0.0%	$17.84	—	Com	058586108
BAM	Brookfield Asset Managmt Ltd	270,666 (-1.3%)	$12.14M (-0.4%)	1.1%	$27.22	—	Cl A Lmt Vtg Shs	113004105
BRK/B	Berkshire Hathaway Inc Del	1,812 (-1.7%)	$907K (+2.6%)	0.1%	$115.78	—	Cl B New	084670702
BNT	Brookfield Wealth Sol Ltd	6,828 (-2.5%)	$291K (+0.4%)	0.0%	$32.16	—	CL A Exchangeab	G17434104

Unchanged Positions (8)

RDN Radian Group Inc 5.4%

Value $59.36M Shares 1,575,667 Est. Cost $10.25 Unrealized —

NICE NICE Ltd 2.3%

Value $25.23M Shares 277,734 Est. Cost $162.19 Unrealized —

COF Capital One Finl Corp 5.0%

Value $55.08M Shares 274,554 Est. Cost $185.05 Unrealized —

BN Brookfield Corp 8.1%

Value $89.17M Shares 2,093,766 Est. Cost $29.68 Unrealized —

CHKP Check Point Software Tech Lt 2.1%

Value $22.71M Shares 172,765 Est. Cost $179.38 Unrealized —

IQV Iqvia Hldgs Inc 1.2%

Value $12.93M Shares 66,918 Est. Cost $210.89 Unrealized —

OCSL Oaktree Specialty Lending 2.7%

Value $29.55M Shares 2,474,804 Est. Cost $17.94 Unrealized —

ARCC Ares Capital Corp 2.1%

Value $23.46M Shares 1,266,283 Est. Cost $6.52 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
RDN	Radian Group Inc	1,575,667	$59.36M	5.4%	$10.25	—	Com	750236101
NICE	NICE Ltd	277,734	$25.23M	2.3%	$162.19	—	Sponsored ADR	653656108
COF	Capital One Finl Corp	274,554	$55.08M	5.0%	$185.05	—	Com	14040H105
BN	Brookfield Corp	2,093,766	$89.17M	8.1%	$29.68	—	Cl A Ltd Vt Sh	11271J107
CHKP	Check Point Software Tech Lt	172,765	$22.71M	2.1%	$179.38	—	Ord	M22465104
IQV	Iqvia Hldgs Inc	66,918	$12.93M	1.2%	$210.89	—	Com	46266C105
OCSL	Oaktree Specialty Lending	2,474,804	$29.55M	2.7%	$17.94	—	Com	67401P405
ARCC	Ares Capital Corp	1,266,283	$23.46M	2.1%	$6.52	—	Com	04010L103