First Eagle Investment Management, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MICC	MAGNUM ICE CREAM CO NV	16,313,055	$260,541	0.5%	$15.68	0.0%	ORD SHS	N5505D105
UL	UNILEVER PLC	677,384	$44,301	0.1%	$65.40	—	SPON ADR NEW	904767803
FG	F&G ANNUITIES & LIFE INC	366,671	$11,312	0.0%	$31.09	0.0%	COMMON STOCK	30190A104
EXP	EAGLE MATLS INC	51,334	$10,610	0.0%	$220.50	0.0%	COM	26969P108
DORM	DORMAN PRODS INC	73,342	$9,035	0.0%	$134.99	0.0%	COM	258278100
RELY	REMITLY GLOBAL INC	641,454	$8,852	0.0%	$14.53	0.0%	COM	75960P104
ABM	ABM INDS INC	180,218	$7,623	0.0%	$43.65	0.0%	COM	000957100
TRNS	TRANSCAT INC	127,957	$7,259	0.0%	$62.33	0.0%	COM	893529107
FLOC	FLOWCO HLDGS INC	344,309	$6,452	0.0%	$16.59	0.0%	COM CL A	342909108
FLS	FLOWSERVE CORP	82,054	$5,693	0.0%	$64.09	0.0%	COM	34354P105
PXED	PHOENIX ED PARTNERS INC	180,149	$5,459	0.0%	$33.28	0.0%	COM	718968100
CENTA	CENTRAL GARDEN & PET CO	174,438	$5,092	0.0%	$28.91	0.0%	CL A NON-VTG	153527205
ATRC	ATRICURE INC	116,609	$4,613	0.0%	$36.66	0.0%	COM	04963C209
SONO	SONOS INC	246,406	$4,327	0.0%	$17.44	0.0%	COM	83570H108
ALGT	ALLEGIANT TRAVEL CO	45,343	$3,866	0.0%	$71.49	0.0%	COM	01748X102
RRBI	RED RIVER BANCSHARES INC	49,396	$3,528	0.0%	$68.37	0.0%	COM	75686R202
QTRX	QUANTERIX CORP	531,427	$3,380	0.0%	$6.21	0.0%	COM	74766Q101
KMPR	KEMPER CORP	80,203	$3,251	0.0%	$42.83	0.0%	COM	488401100
CYRX	CRYOPORT INC	312,061	$2,996	0.0%	$9.45	0.0%	COM PAR $0.001	229050307
CMCO	COLUMBUS MCKINNON CORP N Y	142,918	$2,465	0.0%	$15.95	0.0%	COM	199333105
FUBO	FUBOTV INC	803,533	$2,025	0.0%	$3.33	0.0%	CLASS A COM SHS	35953D104
MG	MISTRAS GROUP INC	77,219	$977	0.0%	$11.28	0.0%	COM	60649T107
CLH	CLEAN HARBORS INC	3,816	$895	0.0%	$228.49	0.0%	COM	184496107
DSX	DIANA SHIPPING INC	466,583	$775	0.0%	$1.74	0.0%	COM	Y2066G104
SARO	STANDARDAERO INC	23,500	$674	0.0%	$27.23	0.0%	COM	85423L103
FTAI	FTAI AVIATION LTD	2,519	$496	0.0%	$170.24	0.0%	SHS	G3730V105
KLTR	KALTURA INC	221,795	$364	0.0%	$1.58	0.0%	COM	483467106
GEHC	GE HEALTHCARE TECHNOLOGIES I	51	$4	0.0%	$77.91	0.0%	COMMON STOCK	36266G107
URI	UNITED RENTALS INC	5	$4	0.0%	$867.08	0.0%	COM	911363109
JLL	JONES LANG LASALLE INC	12	$4	0.0%	$313.44	0.0%	COM	48020Q107
LOPE	GRAND CANYON ED INC	24	$4	0.0%	$180.87	0.0%	COM	38526M106
MKTX	MARKETAXESS HLDGS INC	22	$4	0.0%	$169.50	0.0%	COM	57060D108
SE	SEA LTD	31	$4	0.0%	$127.58	—	SPONSORD ADS	81141R100
APD	AIR PRODS & CHEMS INC	16	$4	0.0%	$251.65	0.0%	COM	009158106
ECL	ECOLAB INC	15	$4	0.0%	$265.71	0.0%	COM	278865100
WLK	WESTLAKE CORPORATION	53	$4	0.0%	$70.79	0.0%	COM	960413102
CFG	CITIZENS FINL GROUP INC	67	$4	0.0%	$53.58	0.0%	COM	174610105
TRGP	TARGA RES CORP	21	$4	0.0%	$168.08	0.0%	COM	87612G101
RGA	REINSURANCE GRP OF AMERICA I	19	$4	0.0%	$193.39	0.0%	COM NEW	759351604
WCN	WASTE CONNECTIONS INC	22	$4	0.0%	$172.81	0.0%	COM	94106B101
DASH	DOORDASH INC	17	$4	0.0%	$234.56	0.0%	CL A	25809K105
DXCM	DEXCOM INC	58	$4	0.0%	$64.65	0.0%	COM	252131107
MSA	MSA SAFETY INC	24	$4	0.0%	$162.81	0.0%	COM	553498106
CNS	COHEN & STEERS INC	61	$4	0.0%	$64.78	0.0%	COM	19247A100
STE	STERIS PLC	15	$4	0.0%	$251.13	0.0%	SHS USD	G8473T100
WPC	WP CAREY INC	59	$4	0.0%	$64.36	—	COM	92936U109
ODFL	OLD DOMINION FREIGHT LINE IN	24	$4	0.0%	$143.18	0.0%	COM	679580100
GPC	GENUINE PARTS CO	30	$4	0.0%	$128.69	0.0%	COM	372460105
RRX	REGAL REXNORD CORPORATION	26	$4	0.0%	$142.29	0.0%	COM	758750103
MASI	MASIMO CORP	28	$4	0.0%	$143.19	0.0%	COM	574795100
VFC	V F CORP	201	$4	0.0%	$16.21	0.0%	COM	918204108
DHI	D R HORTON INC	25	$4	0.0%	$152.01	0.0%	COM	23331A109
TDY	TELEDYNE TECHNOLOGIES INC	7	$4	0.0%	$526.90	0.0%	COM	879360105
LPLA	LPL FINL HLDGS INC	10	$4	0.0%	$353.69	0.0%	COM	50212V100
TLT	ISHARES TR	700,000	$0	0.0%	—	—	PUT	464287432

Increased Positions (144)

WY WEYERHAEUSER CO MTN BE 1.6%

Value ($000) $891,242 (+154.3%) Shares 37,621,004 (+166.1%) Est. Cost $21.69 Unrealized +6.0%

BDX BECTON DICKINSON & CO 4.0%

Value ($000) $2,260,139 (+20.8%) Shares 11,646,000 (+16.5%) Est. Cost $203.86 Unrealized -7.0%

WDAY WORKDAY INC 1.6%

Value ($000) $931,882 (+67.5%) Shares 4,338,773 (+87.8%) Est. Cost $229.35 Unrealized -0.9%

CRM SALESFORCE INC 2.0%

Value ($000) $1,144,201 (+30.8%) Shares 4,319,206 (+17.0%) Est. Cost $226.79 Unrealized +9.4%

OKE ONEOK INC NEW 1.5%

Value ($000) $835,350 (+47.3%) Shares 11,365,304 (+46.3%) Est. Cost $71.73 Unrealized -1.8%

CHTR CHARTER COMMUNICATIONS INC N 1.1%

Value ($000) $619,885 (+66.6%) Shares 2,969,507 (+119.6%) Est. Cost $264.48 Unrealized -14.9%

IFF INTERNATIONAL FLAVORS&FRAGRA 1.0%

Value ($000) $595,166 (+39.6%) Shares 8,831,668 (+27.5%) Est. Cost $72.81 Unrealized -11.6%

FNV FRANCO NEV CORP 1.9%

Value ($000) $1,062,037 (+17.9%) Shares 5,123,444 (+26.5%) Est. Cost $121.06 Unrealized +67.5%

EXR EXTRA SPACE STORAGE INC 0.6%

Value ($000) $332,328 (+49.5%) Shares 2,552,053 (+61.8%) Est. Cost $125.82 Unrealized +7.3%

BIO BIO RAD LABS INC 1.4%

Value ($000) $778,828 (+10.2%) Shares 2,570,473 (+2.0%) Est. Cost $275.25 Unrealized +13.4%

ROST ROSS STORES INC 0.5%

Value ($000) $263,827 (+21.0%) Shares 1,464,567 (+2.4%) Est. Cost $87.52 Unrealized +90.4%

CSL CARLISLE COS INC 0.4%

Value ($000) $206,681 (+17.1%) Shares 646,162 (+20.4%) Est. Cost $348.50 Unrealized -7.4%

BIL SPDR SERIES TRUST 0.1%

Value ($000) $65,088 (+77.0%) Shares 712,283 (+77.8%) Est. Cost $91.58 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 0.0%

Value ($000) $26,076 (+238.8%) Shares 51,877 (+238.8%) Est. Cost $483.01 Unrealized +3.0%

SHEL SHELL PLC 0.1%

Value ($000) $64,190 (+34.3%) Shares 873,572 (+30.7%) Est. Cost $65.58 Unrealized —

MSFT MICROSOFT CORP 0.5%

Value ($000) $269,667 (-4.6%) Shares 557,601 (+2.2%) Est. Cost $44.29 Unrealized +1030.3%

XRAY DENTSPLY SIRONA INC 0.3%

Value ($000) $167,342 (-7.0%) Shares 14,640,555 (+3.2%) Est. Cost $38.48 Unrealized -69.5%

BTI BRITISH AMERN TOB PLC 0.1%

Value ($000) $79,720 (+16.9%) Shares 1,407,980 (+9.6%) Est. Cost $40.12 Unrealized —

DE DEERE & CO 0.4%

Value ($000) $243,127 (+3.9%) Shares 522,213 (+2.0%) Est. Cost $79.65 Unrealized +487.2%

LYG LLOYDS BANKING GROUP PLC 0.1%

Value ($000) $36,947 (+28.6%) Shares 6,971,101 (+10.2%) Est. Cost $2.94 Unrealized —

SLP SIMULATIONS PLUS INC 0.0%

Value ($000) $8,334 (+2317.0%) Shares 457,155 (+1898.1%) Est. Cost $17.39 Unrealized +0.9%

TFX TELEFLEX INCORPORATED 0.0%

Value ($000) $10,288 (+162.7%) Shares 84,300 (+163.4%) Est. Cost $120.87 Unrealized +0.1%

HLN HALEON PLC 0.1%

Value ($000) $33,723 (+23.0%) Shares 3,335,583 (+9.1%) Est. Cost $8.83 Unrealized —

HNGE HINGE HEALTH INC 0.0%

Value ($000) $10,300 (+152.9%) Shares 221,751 (+167.2%) Est. Cost $49.72 Unrealized -3.1%

— BANK AMERICA CORP 0.1%

Value ($000) $37,111 (+18.1%) Shares 29,641 (+20.8%) Est. Cost $1320.58 Unrealized —

— WELLS FARGO CO NEW 0.1%

Value ($000) $31,198 (+22.2%) Shares 25,741 (+24.4%) Est. Cost $1435.89 Unrealized —

FERG FERGUSON ENTERPRISES INC 0.2%

Value ($000) $140,133 (+4.1%) Shares 629,445 (+5.0%) Est. Cost $184.73 Unrealized +28.8%

FVR FRONTVIEW REIT INC 0.0%

Value ($000) $5,891 (+1332.3%) Shares 399,126 (+1230.4%) Est. Cost $14.68 Unrealized —

ROG ROGERS CORP 0.0%

Value ($000) $10,835 (+93.0%) Shares 118,329 (+69.5%) Est. Cost $79.14 Unrealized +8.5%

TMCI TREACE MED CONCEPTS INC 0.0%

Value ($000) $3,584 (-56.9%) Shares 1,462,983 (+18.1%) Est. Cost $7.03 Unrealized -38.2%

MRVI MARAVAI LIFESCIENCES HLDGS I 0.0%

Value ($000) $5,848 (+351.9%) Shares 1,799,336 (+299.0%) Est. Cost $3.16 Unrealized +6.4%

SMBK SMARTFINANCIAL INC 0.0%

Value ($000) $5,629 (+392.3%) Shares 152,167 (+375.5%) Est. Cost $36.11 Unrealized +0.2%

THR THERMON GROUP HLDGS INC 0.0%

Value ($000) $14,883 (+42.1%) Shares 400,510 (+2.2%) Est. Cost $30.31 Unrealized +8.3%

MTRN MATERION CORP 0.0%

Value ($000) $7,211 (+143.6%) Shares 58,000 (+136.7%) Est. Cost $115.58 Unrealized +6.7%

CMC COMMERCIAL METALS CO 0.0%

Value ($000) $18,852 (+24.5%) Shares 272,349 (+3.1%) Est. Cost $46.47 Unrealized +34.3%

AMBQ AMBIQ MICRO INC 0.0%

Value ($000) $5,407 (+206.8%) Shares 189,723 (+222.1%) Est. Cost $31.07 Unrealized -7.8%

EPD ENTERPRISE PRODS PARTNERS L 0.1%

Value ($000) $61,417 (+6.2%) Shares 1,915,695 (+3.6%) Est. Cost $19.49 Unrealized —

CUBI CUSTOMERS BANCORP INC 0.0%

Value ($000) $10,185 (+53.9%) Shares 139,293 (+37.6%) Est. Cost $55.75 Unrealized +23.0%

MHO M/I HOMES INC 0.0%

Value ($000) $7,690 (+86.1%) Shares 60,100 (+110.1%) Est. Cost $133.66 Unrealized -1.1%

AIN ALBANY INTL CORP 0.0%

Value ($000) $6,684 (+112.5%) Shares 131,829 (+123.4%) Est. Cost $56.64 Unrealized -9.0%

SIBN SI-BONE INC 0.0%

Value ($000) $10,599 (+48.7%) Shares 537,461 (+11.0%) Est. Cost $15.42 Unrealized +12.7%

CDNA CAREDX INC 0.0%

Value ($000) $10,300 (+49.1%) Shares 546,722 (+15.1%) Est. Cost $14.58 Unrealized +14.9%

LFST LIFESTANCE HEALTH GROUP INC 0.0%

Value ($000) $10,535 (+45.1%) Shares 1,496,466 (+13.3%) Est. Cost $6.54 Unrealized -7.8%

DV DOUBLEVERIFY HLDGS INC 0.0%

Value ($000) $7,264 (+79.7%) Shares 635,000 (+88.1%) Est. Cost $13.05 Unrealized -15.5%

BBNX BETA BIONICS INC 0.0%

Value ($000) $7,730 (+66.8%) Shares 253,702 (+8.8%) Est. Cost $18.31 Unrealized +45.8%

TALK TALKSPACE INC 0.0%

Value ($000) $8,008 (+53.5%) Shares 2,206,130 (+16.7%) Est. Cost $2.93 Unrealized +8.4%

COLB COLUMBIA BKG SYS INC 0.0%

Value ($000) $3,815 (+270.5%) Shares 136,500 (+241.3%) Est. Cost $26.27 Unrealized +2.2%

KRE SPDR SERIES TRUST 0.0%

Value ($000) $10,313 (+34.0%) Shares 159,119 (+30.8%) Est. Cost $63.66 Unrealized —

UTI UNIVERSAL TECHNICAL INST INC 0.0%

Value ($000) $11,686 (-17.9%) Shares 447,231 (+2.2%) Est. Cost $11.55 Unrealized +145.1%

FLYW FLYWIRE CORPORATION 0.0%

Value ($000) $6,094 (+67.9%) Shares 430,337 (+60.6%) Est. Cost $12.25 Unrealized +11.7%

INSG INSEEGO CORP 0.0%

Value ($000) $4,476 (+112.3%) Shares 435,849 (+209.4%) Est. Cost $12.04 Unrealized +7.8%

SPB SPECTRUM BRANDS HLDGS INC NE 0.0%

Value ($000) $12,216 (+23.3%) Shares 206,772 (+9.6%) Est. Cost $79.03 Unrealized -28.8%

PUMP PROPETRO HLDG CORP 0.0%

Value ($000) $4,635 (+95.1%) Shares 487,333 (+7.5%) Est. Cost $9.43 Unrealized -7.8%

JBI JANUS INTERNATIONAL GROUP IN 0.0%

Value ($000) $8,988 (-19.7%) Shares 1,374,346 (+21.1%) Est. Cost $10.15 Unrealized -23.2%

PGNY PROGYNY INC 0.0%

Value ($000) $5,460 (+67.2%) Shares 212,612 (+40.2%) Est. Cost $18.14 Unrealized +26.8%

BCC BOISE CASCADE CO DEL 0.0%

Value ($000) $10,341 (+24.5%) Shares 140,496 (+30.8%) Est. Cost $92.18 Unrealized -21.0%

HSTM HEALTHSTREAM INC 0.0%

Value ($000) $9,544 (-17.4%) Shares 413,698 (+1.1%) Est. Cost $24.17 Unrealized +4.0%

MASS 908 DEVICES INC 0.0%

Value ($000) $3,275 (-38.1%) Shares 623,883 (+3.3%) Est. Cost $6.19 Unrealized +12.9%

WBS WEBSTER FINL CORP 0.0%

Value ($000) $14,306 (+16.4%) Shares 227,302 (+9.9%) Est. Cost $54.49 Unrealized +9.0%

AVBH AVIDBANK HLDGS INC 0.0%

Value ($000) $4,077 (+88.1%) Shares 153,500 (+80.6%) Est. Cost $24.66 Unrealized +5.2%

SKY CHAMPION HOMES INC 0.0%

Value ($000) $10,379 (+21.9%) Shares 122,824 (+10.1%) Est. Cost $70.10 Unrealized +12.4%

ASPN ASPEN AEROGELS INC 0.0%

Value ($000) $1,762 (-51.1%) Shares 622,487 (+20.3%) Est. Cost $6.73 Unrealized -23.4%

ACLS AXCELIS TECHNOLOGIES INC 0.0%

Value ($000) $10,952 (-14.0%) Shares 136,318 (+4.6%) Est. Cost $68.10 Unrealized +23.0%

ITUB ITAU UNIBANCO HLDG S A 0.0%

Value ($000) $20,005 (+9.4%) Shares 2,793,981 (+12.1%) Est. Cost $5.87 Unrealized —

NX QUANEX BLDG PRODS CORP 0.0%

Value ($000) $7,378 (+27.3%) Shares 479,687 (+17.7%) Est. Cost $19.79 Unrealized -28.9%

BHE BENCHMARK ELECTRS INC 0.0%

Value ($000) $10,710 (+16.5%) Shares 250,469 (+5.0%) Est. Cost $26.30 Unrealized +64.1%

LAW CS DISCO INC 0.0%

Value ($000) $2,551 (+141.0%) Shares 328,719 (+100.6%) Est. Cost $6.02 Unrealized +17.1%

CAKE CHEESECAKE FACTORY INC 0.0%

Value ($000) $6,643 (+28.3%) Shares 131,591 (+38.8%) Est. Cost $37.65 Unrealized +32.9%

PNTG PENNANT GROUP INC 0.0%

Value ($000) $12,610 (+13.1%) Shares 447,949 (+1.3%) Est. Cost $16.25 Unrealized +63.7%

UMH UMH PPTYS INC 0.0%

Value ($000) $11,398 (+14.5%) Shares 716,419 (+6.9%) Est. Cost $18.33 Unrealized —

MATV MATIV HOLDINGS INC 0.0%

Value ($000) $12,804 (+11.7%) Shares 1,053,792 (+4.0%) Est. Cost $11.10 Unrealized +5.7%

FIP FTAI INFRASTRUCTURE INC 0.0%

Value ($000) $10,990 (+13.2%) Shares 2,383,921 (+7.1%) Est. Cost $6.59 Unrealized -25.5%

BKH BLACK HILLS CORP 0.0%

Value ($000) $8,793 (+15.4%) Shares 126,670 (+2.4%) Est. Cost $51.43 Unrealized +29.2%

SRTA STRATA CRITICAL MEDICAL INC 0.0%

Value ($000) $10,243 (+12.9%) Shares 2,129,550 (+18.7%) Est. Cost $3.98 Unrealized +21.7%

ETD ETHAN ALLEN INTERIORS INC 0.0%

Value ($000) $6,180 (-15.2%) Shares 270,592 (+9.3%) Est. Cost $26.73 Unrealized -8.9%

PACK RANPAK HOLDINGS CORP 0.0%

Value ($000) $2,110 (+105.4%) Shares 390,010 (+113.4%) Est. Cost $4.85 Unrealized +8.5%

OTIS OTIS WORLDWIDE CORP 0.0%

Value ($000) $14,207 (+8.1%) Shares 162,639 (+13.2%) Est. Cost $91.91 Unrealized -2.9%

ONEW ONEWATER MARINE INC 0.0%

Value ($000) $3,338 (-24.0%) Shares 308,487 (+11.2%) Est. Cost $16.14 Unrealized -17.3%

VITL VITAL FARMS INC 0.0%

Value ($000) $10,546 (-8.9%) Shares 330,179 (+17.4%) Est. Cost $35.21 Unrealized -0.1%

TTAM TITAN AMER SA 0.0%

Value ($000) $6,330 (+19.1%) Shares 384,072 (+8.0%) Est. Cost $14.34 Unrealized +9.1%

PROF PROFOUND MED CORP 0.0%

Value ($000) $2,461 (+69.6%) Shares 312,707 (+7.3%) Est. Cost $5.27 Unrealized +22.0%

ONB OLD NATL BANCORP IND 0.0%

Value ($000) $13,649 (+7.8%) Shares 611,798 (+6.1%) Est. Cost $17.22 Unrealized +25.2%

TKR TIMKEN CO 0.0%

Value ($000) $7,336 (+13.5%) Shares 87,203 (+1.4%) Est. Cost $70.11 Unrealized +13.5%

XRX XEROX HOLDINGS CORP 0.0%

Value ($000) $5,173 (+19.4%) Shares 2,182,500 (+89.4%) Est. Cost $3.73 Unrealized -20.7%

NVST ENVISTA HOLDINGS CORPORATION 0.0%

Value ($000) $5,102 (+17.9%) Shares 235,000 (+10.6%) Est. Cost $20.54 Unrealized -0.1%

CON CONCENTRA GROUP HOLDINGS PAR 0.0%

Value ($000) $7,541 (+11.3%) Shares 383,206 (+18.4%) Est. Cost $20.42 Unrealized -2.3%

VSH VISHAY INTERTECHNOLOGY INC 0.0%

Value ($000) $14,816 (+5.2%) Shares 1,022,488 (+11.1%) Est. Cost $16.30 Unrealized -7.5%

ONTO ONTO INNOVATION INC 0.0%

Value ($000) $1,054 (+226.2%) Shares 6,675 (+167.0%) Est. Cost $128.92 Unrealized +10.2%

ABCB AMERIS BANCORP 0.0%

Value ($000) $15,122 (+4.9%) Shares 203,614 (+3.6%) Est. Cost $44.48 Unrealized +66.9%

ADTN ADTRAN HOLDINGS INC 0.0%

Value ($000) $10,734 (-5.4%) Shares 1,235,207 (+2.2%) Est. Cost $7.85 Unrealized +10.6%

VMD VIEMED HEALTHCARE INC 0.0%

Value ($000) $3,850 (+18.7%) Shares 518,157 (+8.4%) Est. Cost $7.86 Unrealized -12.8%

QXO QXO INC 0.0%

Value ($000) $4,392 (+15.5%) Shares 227,684 (+14.1%) Est. Cost $17.87 Unrealized +7.2%

AIR AAR CORP 0.0%

Value ($000) $5,101 (+13.1%) Shares 61,619 (+22.5%) Est. Cost $57.26 Unrealized +44.5%

STRW STRAWBERRY FIELDS REIT INC 0.0%

Value ($000) $4,265 (+15.4%) Shares 325,589 (+8.4%) Est. Cost $11.46 Unrealized —

UCTT ULTRA CLEAN HLDGS INC 0.0%

Value ($000) $10,400 (-5.2%) Shares 410,569 (+2.0%) Est. Cost $32.79 Unrealized -18.9%

SBCF SEACOAST BKG CORP FLA 0.0%

Value ($000) $13,130 (+4.5%) Shares 417,900 (+1.2%) Est. Cost $25.26 Unrealized +23.3%

GLNG GOLAR LNG LTD 0.0%

Value ($000) $10,920 (-4.4%) Shares 293,472 (+3.8%) Est. Cost $32.79 Unrealized +16.2%

SDHC SMITH DOUGLAS HOMES CORP 0.0%

Value ($000) $6,352 (+8.4%) Shares 378,774 (+14.2%) Est. Cost $25.12 Unrealized -28.0%

CCS CENTURY CMNTYS INC 0.0%

Value ($000) $14,300 (+3.3%) Shares 240,940 (+10.3%) Est. Cost $69.59 Unrealized -12.8%

AX AXOS FINANCIAL INC 0.0%

Value ($000) $12,259 (+3.6%) Shares 142,287 (+1.8%) Est. Cost $45.61 Unrealized +80.6%

CBZ CBIZ INC 0.0%

Value ($000) $601 (+250.4%) Shares 11,908 (+267.9%) Est. Cost $55.82 Unrealized -5.8%

CIGI COLLIERS INTL GROUP INC 0.0%

Value ($000) $916 (+72.1%) Shares 6,234 (+82.9%) Est. Cost $152.03 Unrealized -1.3%

UTZ UTZ BRANDS INC 0.0%

Value ($000) $9,199 (+4.4%) Shares 886,250 (+22.2%) Est. Cost $13.97 Unrealized -22.8%

ENTG ENTEGRIS INC 0.0%

Value ($000) $888 (+74.7%) Shares 10,543 (+91.7%) Est. Cost $85.79 Unrealized +1.1%

LPX LOUISIANA PAC CORP 0.0%

Value ($000) $15,805 (+2.3%) Shares 195,699 (+12.5%) Est. Cost $68.26 Unrealized +23.8%

RHP RYMAN HOSPITALITY PPTYS INC 0.0%

Value ($000) $600 (+139.1%) Shares 6,340 (+126.4%) Est. Cost $92.40 Unrealized —

METCB RAMACO RES INC 0.0%

Value ($000) $5,489 (+6.5%) Shares 467,126 (+52.7%) Est. Cost $14.33 Unrealized -0.9%

WD WALKER & DUNLOP INC 0.0%

Value ($000) $589 (+127.8%) Shares 9,792 (+216.7%) Est. Cost $76.88 Unrealized -8.3%

PKOH PARK-OHIO HLDGS CORP 0.0%

Value ($000) $9,122 (+3.7%) Shares 435,605 (+5.2%) Est. Cost $21.70 Unrealized -5.0%

NTCT NETSCOUT SYS INC 0.0%

Value ($000) $5,723 (+5.9%) Shares 211,502 (+1.1%) Est. Cost $25.31 Unrealized +6.8%

TRVG TRIVAGO N V 0.0%

Value ($000) $851 (+52.2%) Shares 293,444 (+75.1%) Est. Cost $3.15 Unrealized —

NTGR NETGEAR INC 0.0%

Value ($000) $4,582 (-5.9%) Shares 186,777 (+24.2%) Est. Cost $18.81 Unrealized +52.9%

LUV SOUTHWEST AIRLS CO 0.0%

Value ($000) $413 (+223.8%) Shares 10,000 (+150.0%) Est. Cost $33.22 Unrealized +4.7%

NPO ENPRO INC 0.0%

Value ($000) $13,771 (+1.9%) Shares 64,313 (+7.5%) Est. Cost $122.40 Unrealized +80.7%

JHX JAMES HARDIE INDS PLC 0.0%

Value ($000) $616 (+62.9%) Shares 29,676 (+50.8%) Est. Cost $22.64 Unrealized -11.4%

SMWB SIMILARWEB LTD 0.0%

Value ($000) $4,836 (-4.6%) Shares 645,647 (+18.5%) Est. Cost $8.43 Unrealized -4.4%

HZO MARINEMAX INC 0.0%

Value ($000) $6,698 (-3.1%) Shares 276,435 (+1.3%) Est. Cost $27.35 Unrealized -9.8%

AEBI AEBI SCHMIDT HLDG AG 0.0%

Value ($000) $3,876 (+5.5%) Shares 306,389 (+4.0%) Est. Cost $11.42 Unrealized +4.2%

BBCP CONCRETE PUMPING HLDGS INC 0.0%

Value ($000) $3,621 (+5.9%) Shares 539,689 (+11.3%) Est. Cost $6.29 Unrealized +4.5%

WMS ADVANCED DRAIN SYS INC DEL 0.0%

Value ($000) $771 (+35.6%) Shares 5,326 (+29.9%) Est. Cost $134.19 Unrealized +7.8%

OGS ONE GAS INC 0.0%

Value ($000) $8,039 (-2.2%) Shares 104,064 (+2.5%) Est. Cost $70.62 Unrealized +13.8%

RDNT RADNET INC 0.0%

Value ($000) $6,645 (-2.6%) Shares 93,136 (+4.0%) Est. Cost $47.44 Unrealized +62.8%

SN SHARKNINJA INC 0.0%

Value ($000) $899 (+24.5%) Shares 8,034 (+14.8%) Est. Cost $103.25 Unrealized -4.5%

SKT TANGER INC 0.0%

Value ($000) $5,999 (+2.5%) Shares 179,769 (+3.9%) Est. Cost $24.57 Unrealized —

PWP PERELLA WEINBERG PARTNERS 0.0%

Value ($000) $10,101 (+1.3%) Shares 583,848 (+24.8%) Est. Cost $15.11 Unrealized +22.8%

FIVN FIVE9 INC 0.0%

Value ($000) $7,278 (+1.8%) Shares 363,000 (+22.8%) Est. Cost $25.47 Unrealized -16.7%

STC STEWART INFORMATION SVCS COR 0.0%

Value ($000) $8,556 (+1.5%) Shares 121,779 (+5.9%) Est. Cost $47.63 Unrealized +51.2%

MTRX MATRIX SVC CO 0.0%

Value ($000) $7,489 (-1.6%) Shares 640,083 (+10.0%) Est. Cost $13.01 Unrealized -3.4%

UEIC UNIVERSAL ELECTRS INC 0.0%

Value ($000) $867 (+11.8%) Shares 240,148 (+44.3%) Est. Cost $7.57 Unrealized -51.9%

MAC MACERICH CO 0.0%

Value ($000) $3,149 (+2.6%) Shares 170,610 (+1.1%) Est. Cost $13.95 Unrealized —

RKT ROCKET COS INC 0.0%

Value ($000) $1,195 (+6.9%) Shares 61,720 (+7.0%) Est. Cost $11.13 Unrealized +60.6%

HLI HOULIHAN LOKEY INC 0.0%

Value ($000) $788 (-8.7%) Shares 4,524 (+7.7%) Est. Cost $152.43 Unrealized +20.1%

HLIT HARMONIC INC 0.0%

Value ($000) $8,405 (+0.9%) Shares 849,876 (+3.8%) Est. Cost $9.80 Unrealized +2.8%

TXRH TEXAS ROADHOUSE INC 0.0%

Value ($000) $870 (+6.5%) Shares 5,238 (+6.6%) Est. Cost $173.56 Unrealized -2.8%

EXE EXPAND ENERGY CORPORATION 0.0%

Value ($000) $1,005 (+5.4%) Shares 9,109 (+1.5%) Est. Cost $68.17 Unrealized +62.3%

DGX QUEST DIAGNOSTICS INC 0.0%

Value ($000) $683 (-6.6%) Shares 3,935 (+2.6%) Est. Cost $140.07 Unrealized +30.0%

LXFR LUXFER HLDGS PLC 0.0%

Value ($000) $6,130 (+0.7%) Shares 453,056 (+3.4%) Est. Cost $14.03 Unrealized -7.2%

HLX HELIX ENERGY SOLUTIONS GRP I 0.0%

Value ($000) $3,510 (+1.1%) Shares 559,858 (+5.8%) Est. Cost $6.21 Unrealized +6.9%

SIMO SILICON MOTION TECHNOLOGY CO 0.0%

Value ($000) $14,231 (-0.3%) Shares 153,519 (+2.0%) Est. Cost $76.06 Unrealized —

RJF RAYMOND JAMES FINL INC 0.0%

Value ($000) $380 (-6.0%) Shares 2,367 (+1.0%) Est. Cost $106.00 Unrealized +51.8%

DINO HF SINCLAIR CORP 0.0%

Value ($000) $212 (-10.0%) Shares 4,591 (+2.2%) Est. Cost $44.33 Unrealized +15.7%

KD KYNDRYL HLDGS INC 0.0%

Value ($000) $696 (-1.8%) Shares 26,200 (+11.0%) Est. Cost $34.25 Unrealized -20.8%

ENSG ENSIGN GROUP INC 0.0%

Value ($000) $217 (+2.6%) Shares 1,247 (+1.8%) Est. Cost $138.64 Unrealized +29.5%

CP CANADIAN PACIFIC KANSAS CITY 0.0%

Value ($000) $185 (+1.0%) Shares 2,516 (+2.1%) Est. Cost $77.51 Unrealized -5.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WY	WEYERHAEUSER CO MTN BE	37,621,004 (+166.1%)	$891,242 (+154.3%)	1.6%	$21.69	+6.0%	COM NEW	962166104
BDX	BECTON DICKINSON & CO	11,646,000 (+16.5%)	$2,260,139 (+20.8%)	4.0%	$203.86	-7.0%	COM	075887109
WDAY	WORKDAY INC	4,338,773 (+87.8%)	$931,882 (+67.5%)	1.6%	$229.35	-0.9%	CL A	98138H101
CRM	SALESFORCE INC	4,319,206 (+17.0%)	$1,144,201 (+30.8%)	2.0%	$226.79	+9.4%	COM	79466L302
OKE	ONEOK INC NEW	11,365,304 (+46.3%)	$835,350 (+47.3%)	1.5%	$71.73	-1.8%	COM	682680103
CHTR	CHARTER COMMUNICATIONS INC N	2,969,507 (+119.6%)	$619,885 (+66.6%)	1.1%	$264.48	-14.9%	CL A	16119P108
IFF	INTERNATIONAL FLAVORS&FRAGRA	8,831,668 (+27.5%)	$595,166 (+39.6%)	1.0%	$72.81	-11.6%	COM	459506101
FNV	FRANCO NEV CORP	5,123,444 (+26.5%)	$1,062,037 (+17.9%)	1.9%	$121.06	+67.5%	COM	351858105
EXR	EXTRA SPACE STORAGE INC	2,552,053 (+61.8%)	$332,328 (+49.5%)	0.6%	$125.82	+7.3%	COM	30225T102
BIO	BIO RAD LABS INC	2,570,473 (+2.0%)	$778,828 (+10.2%)	1.4%	$275.25	+13.4%	CL A	090572207
ROST	ROSS STORES INC	1,464,567 (+2.4%)	$263,827 (+21.0%)	0.5%	$87.52	+90.4%	COM	778296103
CSL	CARLISLE COS INC	646,162 (+20.4%)	$206,681 (+17.1%)	0.4%	$348.50	-7.4%	COM	142339100
BIL	SPDR SERIES TRUST	712,283 (+77.8%)	$65,088 (+77.0%)	0.1%	$91.58	—	STATE STREET SPD	78468R663
BRK/B	BERKSHIRE HATHAWAY INC DEL	51,877 (+238.8%)	$26,076 (+238.8%)	0.0%	$483.01	+3.0%	CL B NEW	084670702
SHEL	SHELL PLC	873,572 (+30.7%)	$64,190 (+34.3%)	0.1%	$65.58	—	SPON ADS	780259305
MSFT	MICROSOFT CORP	557,601 (+2.2%)	$269,667 (-4.6%)	0.5%	$44.29	+1030.3%	COM	594918104
XRAY	DENTSPLY SIRONA INC	14,640,555 (+3.2%)	$167,342 (-7.0%)	0.3%	$38.48	-69.5%	COM	24906P109
BTI	BRITISH AMERN TOB PLC	1,407,980 (+9.6%)	$79,720 (+16.9%)	0.1%	$40.12	—	SPONSORED ADR	110448107
DE	DEERE & CO	522,213 (+2.0%)	$243,127 (+3.9%)	0.4%	$79.65	+487.2%	COM	244199105
LYG	LLOYDS BANKING GROUP PLC	6,971,101 (+10.2%)	$36,947 (+28.6%)	0.1%	$2.94	—	SPONSORED ADR	539439109
SLP	SIMULATIONS PLUS INC	457,155 (+1898.1%)	$8,334 (+2317.0%)	0.0%	$17.39	+0.9%	COM	829214105
TFX	TELEFLEX INCORPORATED	84,300 (+163.4%)	$10,288 (+162.7%)	0.0%	$120.87	+0.1%	COM	879369106
HLN	HALEON PLC	3,335,583 (+9.1%)	$33,723 (+23.0%)	0.1%	$8.83	—	SPON ADS	405552100
HNGE	HINGE HEALTH INC	221,751 (+167.2%)	$10,300 (+152.9%)	0.0%	$49.72	-3.1%	CL A	433313103
—	BANK AMERICA CORP	29,641 (+20.8%)	$37,111 (+18.1%)	0.1%	$1320.58	—	7.25%CNV PFD L	060505682
—	WELLS FARGO CO NEW	25,741 (+24.4%)	$31,198 (+22.2%)	0.1%	$1435.89	—	PERP PFD CNV A	949746804
FERG	FERGUSON ENTERPRISES INC	629,445 (+5.0%)	$140,133 (+4.1%)	0.2%	$184.73	+28.8%	COMMON STOCK NEW	31488V107
FVR	FRONTVIEW REIT INC	399,126 (+1230.4%)	$5,891 (+1332.3%)	0.0%	$14.68	—	COM	35922N100
ROG	ROGERS CORP	118,329 (+69.5%)	$10,835 (+93.0%)	0.0%	$79.14	+8.5%	COM	775133101
TMCI	TREACE MED CONCEPTS INC	1,462,983 (+18.1%)	$3,584 (-56.9%)	0.0%	$7.03	-38.2%	COM	89455T109
MRVI	MARAVAI LIFESCIENCES HLDGS I	1,799,336 (+299.0%)	$5,848 (+351.9%)	0.0%	$3.16	+6.4%	COM CL A	56600D107
SMBK	SMARTFINANCIAL INC	152,167 (+375.5%)	$5,629 (+392.3%)	0.0%	$36.11	+0.2%	COM NEW	83190L208
THR	THERMON GROUP HLDGS INC	400,510 (+2.2%)	$14,883 (+42.1%)	0.0%	$30.31	+8.3%	COM	88362T103
MTRN	MATERION CORP	58,000 (+136.7%)	$7,211 (+143.6%)	0.0%	$115.58	+6.7%	COM	576690101
CMC	COMMERCIAL METALS CO	272,349 (+3.1%)	$18,852 (+24.5%)	0.0%	$46.47	+34.3%	COM	201723103
AMBQ	AMBIQ MICRO INC	189,723 (+222.1%)	$5,407 (+206.8%)	0.0%	$31.07	-7.8%	COMMON STOCK	023193105
EPD	ENTERPRISE PRODS PARTNERS L	1,915,695 (+3.6%)	$61,417 (+6.2%)	0.1%	$19.49	—	COM	293792107
CUBI	CUSTOMERS BANCORP INC	139,293 (+37.6%)	$10,185 (+53.9%)	0.0%	$55.75	+23.0%	COM	23204G100
MHO	M/I HOMES INC	60,100 (+110.1%)	$7,690 (+86.1%)	0.0%	$133.66	-1.1%	COM	55305B101
AIN	ALBANY INTL CORP	131,829 (+123.4%)	$6,684 (+112.5%)	0.0%	$56.64	-9.0%	CL A	012348108
SIBN	SI-BONE INC	537,461 (+11.0%)	$10,599 (+48.7%)	0.0%	$15.42	+12.7%	COM	825704109
CDNA	CAREDX INC	546,722 (+15.1%)	$10,300 (+49.1%)	0.0%	$14.58	+14.9%	COM	14167L103
LFST	LIFESTANCE HEALTH GROUP INC	1,496,466 (+13.3%)	$10,535 (+45.1%)	0.0%	$6.54	-7.8%	COM	53228F101
DV	DOUBLEVERIFY HLDGS INC	635,000 (+88.1%)	$7,264 (+79.7%)	0.0%	$13.05	-15.5%	COM	25862V105
BBNX	BETA BIONICS INC	253,702 (+8.8%)	$7,730 (+66.8%)	0.0%	$18.31	+45.8%	COM	08659B102
TALK	TALKSPACE INC	2,206,130 (+16.7%)	$8,008 (+53.5%)	0.0%	$2.93	+8.4%	COM	87427V103
COLB	COLUMBIA BKG SYS INC	136,500 (+241.3%)	$3,815 (+270.5%)	0.0%	$26.27	+2.2%	COM	197236102
KRE	SPDR SERIES TRUST	159,119 (+30.8%)	$10,313 (+34.0%)	0.0%	$63.66	—	STATE STREET SPD	78464A698
UTI	UNIVERSAL TECHNICAL INST INC	447,231 (+2.2%)	$11,686 (-17.9%)	0.0%	$11.55	+145.1%	COM	913915104
FLYW	FLYWIRE CORPORATION	430,337 (+60.6%)	$6,094 (+67.9%)	0.0%	$12.25	+11.7%	COM VTG	302492103
INSG	INSEEGO CORP	435,849 (+209.4%)	$4,476 (+112.3%)	0.0%	$12.04	+7.8%	COM NEW	45782B302
SPB	SPECTRUM BRANDS HLDGS INC NE	206,772 (+9.6%)	$12,216 (+23.3%)	0.0%	$79.03	-28.8%	COM	84790A105
PUMP	PROPETRO HLDG CORP	487,333 (+7.5%)	$4,635 (+95.1%)	0.0%	$9.43	-7.8%	COM	74347M108
JBI	JANUS INTERNATIONAL GROUP IN	1,374,346 (+21.1%)	$8,988 (-19.7%)	0.0%	$10.15	-23.2%	COMMON STOCK	47103N106
PGNY	PROGYNY INC	212,612 (+40.2%)	$5,460 (+67.2%)	0.0%	$18.14	+26.8%	COM	74340E103
BCC	BOISE CASCADE CO DEL	140,496 (+30.8%)	$10,341 (+24.5%)	0.0%	$92.18	-21.0%	COM	09739D100
HSTM	HEALTHSTREAM INC	413,698 (+1.1%)	$9,544 (-17.4%)	0.0%	$24.17	+4.0%	COM	42222N103
MASS	908 DEVICES INC	623,883 (+3.3%)	$3,275 (-38.1%)	0.0%	$6.19	+12.9%	COM	65443P102
WBS	WEBSTER FINL CORP	227,302 (+9.9%)	$14,306 (+16.4%)	0.0%	$54.49	+9.0%	COM	947890109
AVBH	AVIDBANK HLDGS INC	153,500 (+80.6%)	$4,077 (+88.1%)	0.0%	$24.66	+5.2%	COM	05368J103
SKY	CHAMPION HOMES INC	122,824 (+10.1%)	$10,379 (+21.9%)	0.0%	$70.10	+12.4%	COM	830830105
ASPN	ASPEN AEROGELS INC	622,487 (+20.3%)	$1,762 (-51.1%)	0.0%	$6.73	-23.4%	COM	04523Y105
ACLS	AXCELIS TECHNOLOGIES INC	136,318 (+4.6%)	$10,952 (-14.0%)	0.0%	$68.10	+23.0%	COM NEW	054540208
ITUB	ITAU UNIBANCO HLDG S A	2,793,981 (+12.1%)	$20,005 (+9.4%)	0.0%	$5.87	—	SPON ADR REP PFD	465562106
NX	QUANEX BLDG PRODS CORP	479,687 (+17.7%)	$7,378 (+27.3%)	0.0%	$19.79	-28.9%	COM	747619104
BHE	BENCHMARK ELECTRS INC	250,469 (+5.0%)	$10,710 (+16.5%)	0.0%	$26.30	+64.1%	COM	08160H101
LAW	CS DISCO INC	328,719 (+100.6%)	$2,551 (+141.0%)	0.0%	$6.02	+17.1%	COM	126327105
CAKE	CHEESECAKE FACTORY INC	131,591 (+38.8%)	$6,643 (+28.3%)	0.0%	$37.65	+32.9%	COM	163072101
PNTG	PENNANT GROUP INC	447,949 (+1.3%)	$12,610 (+13.1%)	0.0%	$16.25	+63.7%	COM	70805E109
UMH	UMH PPTYS INC	716,419 (+6.9%)	$11,398 (+14.5%)	0.0%	$18.33	—	COM	903002103
MATV	MATIV HOLDINGS INC	1,053,792 (+4.0%)	$12,804 (+11.7%)	0.0%	$11.10	+5.7%	COM	808541106
FIP	FTAI INFRASTRUCTURE INC	2,383,921 (+7.1%)	$10,990 (+13.2%)	0.0%	$6.59	-25.5%	COMMON STOCK	35953C106
BKH	BLACK HILLS CORP	126,670 (+2.4%)	$8,793 (+15.4%)	0.0%	$51.43	+29.2%	COM	092113109
SRTA	STRATA CRITICAL MEDICAL INC	2,129,550 (+18.7%)	$10,243 (+12.9%)	0.0%	$3.98	+21.7%	CL A COM	092667104
ETD	ETHAN ALLEN INTERIORS INC	270,592 (+9.3%)	$6,180 (-15.2%)	0.0%	$26.73	-8.9%	COM	297602104
PACK	RANPAK HOLDINGS CORP	390,010 (+113.4%)	$2,110 (+105.4%)	0.0%	$4.85	+8.5%	COM CL A	75321W103
OTIS	OTIS WORLDWIDE CORP	162,639 (+13.2%)	$14,207 (+8.1%)	0.0%	$91.91	-2.9%	COM	68902V107
ONEW	ONEWATER MARINE INC	308,487 (+11.2%)	$3,338 (-24.0%)	0.0%	$16.14	-17.3%	CL A COM	68280L101
VITL	VITAL FARMS INC	330,179 (+17.4%)	$10,546 (-8.9%)	0.0%	$35.21	-0.1%	COM	92847W103
TTAM	TITAN AMER SA	384,072 (+8.0%)	$6,330 (+19.1%)	0.0%	$14.34	+9.1%	COMMON SHARES	B9151N105
PROF	PROFOUND MED CORP	312,707 (+7.3%)	$2,461 (+69.6%)	0.0%	$5.27	+22.0%	COM NEW	74319B502
ONB	OLD NATL BANCORP IND	611,798 (+6.1%)	$13,649 (+7.8%)	0.0%	$17.22	+25.2%	COM	680033107
TKR	TIMKEN CO	87,203 (+1.4%)	$7,336 (+13.5%)	0.0%	$70.11	+13.5%	COM	887389104
XRX	XEROX HOLDINGS CORP	2,182,500 (+89.4%)	$5,173 (+19.4%)	0.0%	$3.73	-20.7%	COM NEW	98421M106
NVST	ENVISTA HOLDINGS CORPORATION	235,000 (+10.6%)	$5,102 (+17.9%)	0.0%	$20.54	-0.1%	COM	29415F104
CON	CONCENTRA GROUP HOLDINGS PAR	383,206 (+18.4%)	$7,541 (+11.3%)	0.0%	$20.42	-2.3%	COMMON STOCK	20603L102
VSH	VISHAY INTERTECHNOLOGY INC	1,022,488 (+11.1%)	$14,816 (+5.2%)	0.0%	$16.30	-7.5%	COM	928298108
ONTO	ONTO INNOVATION INC	6,675 (+167.0%)	$1,054 (+226.2%)	0.0%	$128.92	+10.2%	COM	683344105
ABCB	AMERIS BANCORP	203,614 (+3.6%)	$15,122 (+4.9%)	0.0%	$44.48	+66.9%	COM	03076K108
ADTN	ADTRAN HOLDINGS INC	1,235,207 (+2.2%)	$10,734 (-5.4%)	0.0%	$7.85	+10.6%	COM	00486H105
VMD	VIEMED HEALTHCARE INC	518,157 (+8.4%)	$3,850 (+18.7%)	0.0%	$7.86	-12.8%	COM	92663R105
QXO	QXO INC	227,684 (+14.1%)	$4,392 (+15.5%)	0.0%	$17.87	+7.2%	COM NEW	82846H405
AIR	AAR CORP	61,619 (+22.5%)	$5,101 (+13.1%)	0.0%	$57.26	+44.5%	COM	000361105
STRW	STRAWBERRY FIELDS REIT INC	325,589 (+8.4%)	$4,265 (+15.4%)	0.0%	$11.46	—	COM	863182101
UCTT	ULTRA CLEAN HLDGS INC	410,569 (+2.0%)	$10,400 (-5.2%)	0.0%	$32.79	-18.9%	COM	90385V107
SBCF	SEACOAST BKG CORP FLA	417,900 (+1.2%)	$13,130 (+4.5%)	0.0%	$25.26	+23.3%	COM NEW	811707801
GLNG	GOLAR LNG LTD	293,472 (+3.8%)	$10,920 (-4.4%)	0.0%	$32.79	+16.2%	SHS	G9456A100
SDHC	SMITH DOUGLAS HOMES CORP	378,774 (+14.2%)	$6,352 (+8.4%)	0.0%	$25.12	-28.0%	COM SHS CL A	83207R107
CCS	CENTURY CMNTYS INC	240,940 (+10.3%)	$14,300 (+3.3%)	0.0%	$69.59	-12.8%	COM	156504300
AX	AXOS FINANCIAL INC	142,287 (+1.8%)	$12,259 (+3.6%)	0.0%	$45.61	+80.6%	COM	05465C100
CBZ	CBIZ INC	11,908 (+267.9%)	$601 (+250.4%)	0.0%	$55.82	-5.8%	COM	124805102
CIGI	COLLIERS INTL GROUP INC	6,234 (+82.9%)	$916 (+72.1%)	0.0%	$152.03	-1.3%	SUB VTG SHS	194693107
UTZ	UTZ BRANDS INC	886,250 (+22.2%)	$9,199 (+4.4%)	0.0%	$13.97	-22.8%	COM CL A	918090101
ENTG	ENTEGRIS INC	10,543 (+91.7%)	$888 (+74.7%)	0.0%	$85.79	+1.1%	COM	29362U104
LPX	LOUISIANA PAC CORP	195,699 (+12.5%)	$15,805 (+2.3%)	0.0%	$68.26	+23.8%	COM	546347105
RHP	RYMAN HOSPITALITY PPTYS INC	6,340 (+126.4%)	$600 (+139.1%)	0.0%	$92.40	—	COM	78377T107
METCB	RAMACO RES INC	467,126 (+52.7%)	$5,489 (+6.5%)	0.0%	$14.33	-0.9%	COM CL B	75134P501
WD	WALKER & DUNLOP INC	9,792 (+216.7%)	$589 (+127.8%)	0.0%	$76.88	-8.3%	COM	93148P102
PKOH	PARK-OHIO HLDGS CORP	435,605 (+5.2%)	$9,122 (+3.7%)	0.0%	$21.70	-5.0%	COM	700666100
NTCT	NETSCOUT SYS INC	211,502 (+1.1%)	$5,723 (+5.9%)	0.0%	$25.31	+6.8%	COM	64115T104
TRVG	TRIVAGO N V	293,444 (+75.1%)	$851 (+52.2%)	0.0%	$3.15	—	SPON ADS A SHS N	89686D303
NTGR	NETGEAR INC	186,777 (+24.2%)	$4,582 (-5.9%)	0.0%	$18.81	+52.9%	COM	64111Q104
LUV	SOUTHWEST AIRLS CO	10,000 (+150.0%)	$413 (+223.8%)	0.0%	$33.22	+4.7%	COM	844741108
NPO	ENPRO INC	64,313 (+7.5%)	$13,771 (+1.9%)	0.0%	$122.40	+80.7%	COM	29355X107
JHX	JAMES HARDIE INDS PLC	29,676 (+50.8%)	$616 (+62.9%)	0.0%	$22.64	-11.4%	ORD SHS	G4253H101
SMWB	SIMILARWEB LTD	645,647 (+18.5%)	$4,836 (-4.6%)	0.0%	$8.43	-4.4%	SHS	M84137104
HZO	MARINEMAX INC	276,435 (+1.3%)	$6,698 (-3.1%)	0.0%	$27.35	-9.8%	COM	567908108
AEBI	AEBI SCHMIDT HLDG AG	306,389 (+4.0%)	$3,876 (+5.5%)	0.0%	$11.42	+4.2%	COM	H00501108
BBCP	CONCRETE PUMPING HLDGS INC	539,689 (+11.3%)	$3,621 (+5.9%)	0.0%	$6.29	+4.5%	COM	206704108
WMS	ADVANCED DRAIN SYS INC DEL	5,326 (+29.9%)	$771 (+35.6%)	0.0%	$134.19	+7.8%	COM	00790R104
OGS	ONE GAS INC	104,064 (+2.5%)	$8,039 (-2.2%)	0.0%	$70.62	+13.8%	COM	68235P108
RDNT	RADNET INC	93,136 (+4.0%)	$6,645 (-2.6%)	0.0%	$47.44	+62.8%	COM	750491102
SN	SHARKNINJA INC	8,034 (+14.8%)	$899 (+24.5%)	0.0%	$103.25	-4.5%	COM SHS	G8068L108
SKT	TANGER INC	179,769 (+3.9%)	$5,999 (+2.5%)	0.0%	$24.57	—	COM	875465106
PWP	PERELLA WEINBERG PARTNERS	583,848 (+24.8%)	$10,101 (+1.3%)	0.0%	$15.11	+22.8%	CLASS A COM	71367G102
FIVN	FIVE9 INC	363,000 (+22.8%)	$7,278 (+1.8%)	0.0%	$25.47	-16.7%	COM	338307101
STC	STEWART INFORMATION SVCS COR	121,779 (+5.9%)	$8,556 (+1.5%)	0.0%	$47.63	+51.2%	COM	860372101
MTRX	MATRIX SVC CO	640,083 (+10.0%)	$7,489 (-1.6%)	0.0%	$13.01	-3.4%	COM	576853105
UEIC	UNIVERSAL ELECTRS INC	240,148 (+44.3%)	$867 (+11.8%)	0.0%	$7.57	-51.9%	COM	913483103
MAC	MACERICH CO	170,610 (+1.1%)	$3,149 (+2.6%)	0.0%	$13.95	—	COM	554382101
RKT	ROCKET COS INC	61,720 (+7.0%)	$1,195 (+6.9%)	0.0%	$11.13	+60.6%	COM CL A	77311W101
HLI	HOULIHAN LOKEY INC	4,524 (+7.7%)	$788 (-8.7%)	0.0%	$152.43	+20.1%	CL A	441593100
HLIT	HARMONIC INC	849,876 (+3.8%)	$8,405 (+0.9%)	0.0%	$9.80	+2.8%	COM	413160102
TXRH	TEXAS ROADHOUSE INC	5,238 (+6.6%)	$870 (+6.5%)	0.0%	$173.56	-2.8%	COM	882681109
EXE	EXPAND ENERGY CORPORATION	9,109 (+1.5%)	$1,005 (+5.4%)	0.0%	$68.17	+62.3%	COM	165167735
DGX	QUEST DIAGNOSTICS INC	3,935 (+2.6%)	$683 (-6.6%)	0.0%	$140.07	+30.0%	COM	74834L100
LXFR	LUXFER HLDGS PLC	453,056 (+3.4%)	$6,130 (+0.7%)	0.0%	$14.03	-7.2%	SHS	G5698W116
HLX	HELIX ENERGY SOLUTIONS GRP I	559,858 (+5.8%)	$3,510 (+1.1%)	0.0%	$6.21	+6.9%	COM	42330P107
SIMO	SILICON MOTION TECHNOLOGY CO	153,519 (+2.0%)	$14,231 (-0.3%)	0.0%	$76.06	—	SPONSORED ADR	82706C108
RJF	RAYMOND JAMES FINL INC	2,367 (+1.0%)	$380 (-6.0%)	0.0%	$106.00	+51.8%	COM	754730109
DINO	HF SINCLAIR CORP	4,591 (+2.2%)	$212 (-10.0%)	0.0%	$44.33	+15.7%	COM	403949100
KD	KYNDRYL HLDGS INC	26,200 (+11.0%)	$696 (-1.8%)	0.0%	$34.25	-20.8%	COMMON STOCK	50155Q100
ENSG	ENSIGN GROUP INC	1,247 (+1.8%)	$217 (+2.6%)	0.0%	$138.64	+29.5%	COM	29358P101
CP	CANADIAN PACIFIC KANSAS CITY	2,516 (+2.1%)	$185 (+1.0%)	0.0%	$77.51	-5.0%	COM	13646K108

Exited Positions (36)

— UNILEVER PLC 0.1%

Value ($000) $41,584 Shares 701,486 Est. Cost $52.56 Unrealized —

PBF PBF ENERGY INC 0.0%

Value ($000) $16,519 Shares 547,546 Est. Cost $37.37 Unrealized -14.3%

MTDR MATADOR RES CO 0.0%

Value ($000) $13,409 Shares 298,451 Est. Cost $54.55 Unrealized -23.0%

AMWD AMERICAN WOODMARK CORPORATIO 0.0%

Value ($000) $10,635 Shares 159,300 Est. Cost $79.36 Unrealized -26.2%

BLZE BACKBLAZE INC 0.0%

Value ($000) $10,521 Shares 1,133,740 Est. Cost $6.51 Unrealized +5.4%

SM SM ENERGY CO 0.0%

Value ($000) $10,384 Shares 415,868 Est. Cost $32.96 Unrealized -39.3%

AOSL ALPHA & OMEGA SEMICONDUCTOR 0.0%

Value ($000) $9,132 Shares 326,608 Est. Cost $30.26 Unrealized -22.0%

SAH SONIC AUTOMOTIVE INC 0.0%

Value ($000) $8,607 Shares 113,116 Est. Cost $58.14 Unrealized +13.9%

— DENNYS CORP 0.0%

Value ($000) $8,481 Shares 1,621,590 Est. Cost $7.85 Unrealized —

CARS CARS COM INC 0.0%

Value ($000) $8,402 Shares 687,543 Est. Cost $15.61 Unrealized -25.5%

PENG PENGUIN SOLUTIONS INC 0.0%

Value ($000) $8,277 Shares 314,944 Est. Cost $24.46 Unrealized -12.4%

CXM SPRINKLR INC 0.0%

Value ($000) $8,273 Shares 1,071,681 Est. Cost $8.47 Unrealized -10.2%

MNRO MONRO INC 0.0%

Value ($000) $6,325 Shares 352,000 Est. Cost $27.19 Unrealized -32.3%

AVT AVNET INC 0.0%

Value ($000) $5,848 Shares 111,856 Est. Cost $43.13 Unrealized +13.4%

GT GOODYEAR TIRE & RUBR CO 0.0%

Value ($000) $5,797 Shares 774,948 Est. Cost $12.35 Unrealized -36.2%

— PERFORMANT HEALTHCARE INC 0.0%

Value ($000) $5,394 Shares 697,800 Est. Cost $2.85 Unrealized —

RXO RXO INC 0.0%

Value ($000) $5,290 Shares 343,975 Est. Cost $23.58 Unrealized -37.5%

KOS KOSMOS ENERGY LTD 0.0%

Value ($000) $4,561 Shares 2,747,831 Est. Cost $3.17 Unrealized -58.4%

STKL SUNOPTA INC 0.0%

Value ($000) $4,159 Shares 709,750 Est. Cost $6.36 Unrealized -28.6%

— ZIMVIE INC 0.0%

Value ($000) $4,038 Shares 213,182 Est. Cost $12.61 Unrealized —

LAKE LAKELAND INDS INC 0.0%

Value ($000) $3,963 Shares 267,756 Est. Cost $21.53 Unrealized -34.8%

PRGO PERRIGO CO PLC 0.0%

Value ($000) $3,194 Shares 143,405 Est. Cost $26.06 Unrealized -36.0%

PLAY DAVE & BUSTERS ENTMT INC 0.0%

Value ($000) $1,834 Shares 101,000 Est. Cost $26.27 Unrealized -36.3%

— TILE SHOP HLDGS INC 0.0%

Value ($000) $1,798 Shares 297,172 Est. Cost $4.94 Unrealized —

ARQ ARQ INC 0.0%

Value ($000) $1,151 Shares 160,731 Est. Cost $6.61 Unrealized -26.0%

PAL PROFICIENT AUTO LOGISTICS IN 0.0%

Value ($000) $1,140 Shares 165,469 Est. Cost $12.36 Unrealized -36.5%

GTLS CHART INDS INC 0.0%

Value ($000) $857 Shares 4,280 Est. Cost $172.33 Unrealized +17.6%

LTRX LANTRONIX INC 0.0%

Value ($000) $563 Shares 123,297 Est. Cost $4.20 Unrealized +24.0%

ALM ALMONTY INDS INC 0.0%

Value ($000) $543 Shares 90,000 Est. Cost $4.80 Unrealized +53.3%

INGR INGREDION INC 0.0%

Value ($000) $535 Shares 4,382 Est. Cost $103.17 Unrealized +9.3%

LAD LITHIA MTRS INC 0.0%

Value ($000) $520 Shares 1,644 Est. Cost $286.80 Unrealized +10.7%

DOV DOVER CORP 0.0%

Value ($000) $336 Shares 2,014 Est. Cost $154.34 Unrealized +17.8%

DECK DECKERS OUTDOOR CORP 0.0%

Value ($000) $327 Shares 3,225 Est. Cost $110.72 Unrealized -15.3%

ZBH ZIMMER BIOMET HOLDINGS INC 0.0%

Value ($000) $161 Shares 1,636 Est. Cost $119.62 Unrealized -20.9%

COTY COTY INC 0.0%

Value ($000) $113 Shares 28,074 Est. Cost $7.14 Unrealized -49.1%

RH RH 0.0%

Value ($000) $76 Shares 375 Est. Cost $208.10 Unrealized -17.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	UNILEVER PLC	701,486	$41,584	0.1%	$52.56	—	—	904767704
PBF	PBF ENERGY INC	547,546	$16,519	0.0%	$37.37	-14.3%	—	69318G106
MTDR	MATADOR RES CO	298,451	$13,409	0.0%	$54.55	-23.0%	—	576485205
AMWD	AMERICAN WOODMARK CORPORATIO	159,300	$10,635	0.0%	$79.36	-26.2%	—	030506109
BLZE	BACKBLAZE INC	1,133,740	$10,521	0.0%	$6.51	+5.4%	—	05637B105
SM	SM ENERGY CO	415,868	$10,384	0.0%	$32.96	-39.3%	—	78454L100
AOSL	ALPHA & OMEGA SEMICONDUCTOR	326,608	$9,132	0.0%	$30.26	-22.0%	—	G6331P104
SAH	SONIC AUTOMOTIVE INC	113,116	$8,607	0.0%	$58.14	+13.9%	—	83545G102
—	DENNYS CORP	1,621,590	$8,481	0.0%	$7.85	—	—	24869P104
CARS	CARS COM INC	687,543	$8,402	0.0%	$15.61	-25.5%	—	14575E105
PENG	PENGUIN SOLUTIONS INC	314,944	$8,277	0.0%	$24.46	-12.4%	—	706915105
CXM	SPRINKLR INC	1,071,681	$8,273	0.0%	$8.47	-10.2%	—	85208T107
MNRO	MONRO INC	352,000	$6,325	0.0%	$27.19	-32.3%	—	610236101
AVT	AVNET INC	111,856	$5,848	0.0%	$43.13	+13.4%	—	053807103
GT	GOODYEAR TIRE & RUBR CO	774,948	$5,797	0.0%	$12.35	-36.2%	—	382550101
—	PERFORMANT HEALTHCARE INC	697,800	$5,394	0.0%	$2.85	—	—	71377E105
RXO	RXO INC	343,975	$5,290	0.0%	$23.58	-37.5%	—	74982T103
KOS	KOSMOS ENERGY LTD	2,747,831	$4,561	0.0%	$3.17	-58.4%	—	500688106
STKL	SUNOPTA INC	709,750	$4,159	0.0%	$6.36	-28.6%	—	8676EP108
—	ZIMVIE INC	213,182	$4,038	0.0%	$12.61	—	—	98888T107
LAKE	LAKELAND INDS INC	267,756	$3,963	0.0%	$21.53	-34.8%	—	511795106
PRGO	PERRIGO CO PLC	143,405	$3,194	0.0%	$26.06	-36.0%	—	G97822103
PLAY	DAVE & BUSTERS ENTMT INC	101,000	$1,834	0.0%	$26.27	-36.3%	—	238337109
—	TILE SHOP HLDGS INC	297,172	$1,798	0.0%	$4.94	—	—	88677Q109
ARQ	ARQ INC	160,731	$1,151	0.0%	$6.61	-26.0%	—	00770C101
PAL	PROFICIENT AUTO LOGISTICS IN	165,469	$1,140	0.0%	$12.36	-36.5%	—	74317M104
GTLS	CHART INDS INC	4,280	$857	0.0%	$172.33	+17.6%	—	16115Q308
LTRX	LANTRONIX INC	123,297	$563	0.0%	$4.20	+24.0%	—	516548203
ALM	ALMONTY INDS INC	90,000	$543	0.0%	$4.80	+53.3%	—	020398707
INGR	INGREDION INC	4,382	$535	0.0%	$103.17	+9.3%	—	457187102
LAD	LITHIA MTRS INC	1,644	$520	0.0%	$286.80	+10.7%	—	536797103
DOV	DOVER CORP	2,014	$336	0.0%	$154.34	+17.8%	—	260003108
DECK	DECKERS OUTDOOR CORP	3,225	$327	0.0%	$110.72	-15.3%	—	243537107
ZBH	ZIMMER BIOMET HOLDINGS INC	1,636	$161	0.0%	$119.62	-20.9%	—	98956P102
COTY	COTY INC	28,074	$113	0.0%	$7.14	-49.1%	—	222070203
RH	RH	375	$76	0.0%	$208.10	-17.8%	—	74967X103

Decreased Positions (125)

ORCL ORACLE CORP 2.8%

Value ($000) $1,615,857 (-35.0%) Shares 8,290,272 (-6.2%) Est. Cost $29.56 Unrealized +705.2%

GOOG ALPHABET INC 4.1%

Value ($000) $2,312,428 (+26.1%) Shares 7,369,114 (-2.1%) Est. Cost $114.00 Unrealized +151.2%

META META PLATFORMS INC 3.7%

Value ($000) $2,079,248 (-15.0%) Shares 3,149,947 (-5.5%) Est. Cost $199.75 Unrealized +234.1%

GOOGL ALPHABET INC 1.0%

Value ($000) $540,853 (-31.9%) Shares 1,727,965 (-47.1%) Est. Cost $106.67 Unrealized +167.7%

RGLD ROYAL GOLD INC 0.4%

Value ($000) $205,868 (-54.3%) Shares 926,123 (-58.8%) Est. Cost $79.64 Unrealized +149.1%

IMO IMPERIAL OIL LTD 2.8%

Value ($000) $1,607,314 (-12.0%) Shares 18,605,005 (-7.6%) Est. Cost $24.19 Unrealized +274.9%

CMI CUMMINS INC 0.7%

Value ($000) $385,358 (-35.9%) Shares 754,938 (-47.0%) Est. Cost $100.80 Unrealized +362.6%

B BARRICK MNG CORP 2.5%

Value ($000) $1,398,593 (+10.4%) Shares 32,114,660 (-16.9%) Est. Cost $19.29 Unrealized +94.0%

WPM WHEATON PRECIOUS METALS CORP 3.2%

Value ($000) $1,808,646 (-5.8%) Shares 15,390,108 (-10.3%) Est. Cost $22.39 Unrealized +378.3%

GLD SPDR GOLD TR 1.7%

Value ($000) $980,801 (+9.0%) Shares 2,474,833 (-2.2%) Est. Cost $137.12 Unrealized —

TSM TAIWAN SEMICONDUCTOR MFG LTD 3.2%

Value ($000) $1,804,598 (-3.6%) Shares 5,938,326 (-11.4%) Est. Cost $70.01 Unrealized —

DEI DOUGLAS EMMETT INC 0.2%

Value ($000) $138,003 (-31.8%) Shares 12,557,124 (-3.4%) Est. Cost $23.44 Unrealized —

PM PHILIP MORRIS INTL INC 1.6%

Value ($000) $931,623 (-6.2%) Shares 5,808,120 (-5.1%) Est. Cost $61.46 Unrealized +149.9%

CHRW C H ROBINSON WORLDWIDE INC 2.6%

Value ($000) $1,458,739 (+4.3%) Shares 9,074,016 (-14.1%) Est. Cost $64.21 Unrealized +129.4%

NEM NEWMONT CORP 2.4%

Value ($000) $1,369,738 (+3.9%) Shares 13,717,958 (-12.3%) Est. Cost $32.30 Unrealized +179.2%

AXP AMERICAN EXPRESS CO 1.1%

Value ($000) $606,661 (+6.0%) Shares 1,639,846 (-4.8%) Est. Cost $76.22 Unrealized +368.3%

BXP BXP INC 0.4%

Value ($000) $230,168 (-12.4%) Shares 3,410,909 (-3.4%) Est. Cost $67.89 Unrealized +3.7%

HCA HCA HEALTHCARE INC 3.0%

Value ($000) $1,702,243 (+1.9%) Shares 3,646,152 (-7.0%) Est. Cost $154.93 Unrealized +199.3%

DG DOLLAR GEN CORP NEW 1.0%

Value ($000) $586,574 (-5.0%) Shares 4,417,971 (-26.1%) Est. Cost $76.46 Unrealized +45.8%

AGI ALAMOS GOLD INC NEW 0.4%

Value ($000) $238,382 (+9.5%) Shares 6,173,289 (-1.2%) Est. Cost $7.05 Unrealized +393.9%

BTG B2GOLD CORP 0.1%

Value ($000) $43,712 (-31.3%) Shares 9,708,102 (-24.6%) Est. Cost $2.65 Unrealized +75.6%

NG NOVAGOLD RES INC 0.2%

Value ($000) $85,531 (-17.7%) Shares 9,177,188 (-22.3%) Est. Cost $5.63 Unrealized +64.6%

AU ANGLOGOLD ASHANTI PLC 0.2%

Value ($000) $127,195 (-12.1%) Shares 1,491,498 (-27.5%) Est. Cost $19.70 Unrealized +293.3%

BRK/A BERKSHIRE HATHAWAY INC DEL 0.7%

Value ($000) $417,404 (-2.7%) Shares 553 (-2.8%) Est. Cost $176635.08 Unrealized +322.6%

CDE COEUR MNG INC 0.0%

Value ($000) $21,960 (-29.3%) Shares 1,231,606 (-25.6%) Est. Cost $3.18 Unrealized +446.8%

BK BANK NEW YORK MELLON CORP 2.0%

Value ($000) $1,131,371 (+0.8%) Shares 9,745,637 (-5.4%) Est. Cost $24.44 Unrealized +352.1%

KGC KINROSS GOLD CORP 0.5%

Value ($000) $259,885 (+3.4%) Shares 9,228,855 (-8.8%) Est. Cost $8.28 Unrealized +213.9%

ORLA ORLA MNG LTD NEW 0.1%

Value ($000) $64,148 (-11.5%) Shares 4,769,471 (-29.0%) Est. Cost $4.14 Unrealized +193.2%

MGNI MAGNITE INC 0.0%

Value ($000) $4,811 (-61.6%) Shares 296,443 (-48.5%) Est. Cost $14.95 Unrealized +11.0%

WRBY WARBY PARKER INC 0.0%

Value ($000) $7,691 (-49.3%) Shares 352,941 (-35.8%) Est. Cost $20.26 Unrealized +7.4%

AMRC AMERESCO INC 0.0%

Value ($000) $16,832 (-30.4%) Shares 574,673 (-20.2%) Est. Cost $23.49 Unrealized +49.5%

AXGN AXOGEN INC 0.0%

Value ($000) $13,341 (+73.2%) Shares 407,593 (-5.6%) Est. Cost $13.93 Unrealized +76.6%

EYE NATIONAL VISION HLDGS INC 0.0%

Value ($000) $11,659 (-31.9%) Shares 451,552 (-23.0%) Est. Cost $17.36 Unrealized +55.0%

KTOS KRATOS DEFENSE & SEC SOLUTIO 0.0%

Value ($000) $10,101 (-35.0%) Shares 133,063 (-21.8%) Est. Cost $18.85 Unrealized +334.4%

KALU KAISER ALUMINUM CORP 0.0%

Value ($000) $16,875 (+42.7%) Shares 146,915 (-4.1%) Est. Cost $63.35 Unrealized +49.1%

AEM AGNICO EAGLE MINES LTD 1.5%

Value ($000) $880,558 (-0.6%) Shares 5,192,410 (-1.3%) Est. Cost $37.07 Unrealized +352.8%

PR PERMIAN RESOURCES CORP 0.0%

Value ($000) $514 (-90.1%) Shares 36,643 (-90.9%) Est. Cost $13.25 Unrealized +1.4%

UHS UNIVERSAL HLTH SVCS INC 1.7%

Value ($000) $940,447 (-0.5%) Shares 4,313,583 (-6.7%) Est. Cost $120.59 Unrealized +83.2%

ATEC ALPHATEC HLDGS INC 0.0%

Value ($000) $14,226 (+40.1%) Shares 676,137 (-3.2%) Est. Cost $8.55 Unrealized +116.5%

FORM FORMFACTOR INC 0.0%

Value ($000) $15,017 (+36.9%) Shares 269,222 (-10.6%) Est. Cost $30.49 Unrealized +65.3%

GFI GOLD FIELDS LTD 0.3%

Value ($000) $154,473 (+2.6%) Shares 3,538,081 (-1.4%) Est. Cost $15.71 Unrealized —

QNST QUINSTREET INC 0.0%

Value ($000) $3,591 (-49.6%) Shares 249,874 (-45.8%) Est. Cost $14.05 Unrealized +2.7%

FN FABRINET 0.0%

Value ($000) $13,054 (-20.5%) Shares 28,673 (-36.3%) Est. Cost $203.50 Unrealized +113.8%

OUT OUTFRONT MEDIA INC 0.0%

Value ($000) $18,040 (+22.1%) Shares 748,535 (-7.2%) Est. Cost $16.14 Unrealized —

MAMA MAMAS CREATIONS INC 0.0%

Value ($000) $17,233 (+22.6%) Shares 1,277,470 (-4.5%) Est. Cost $6.72 Unrealized +71.0%

VIAV VIAVI SOLUTIONS INC 0.0%

Value ($000) $12,898 (+31.7%) Shares 723,800 (-6.2%) Est. Cost $9.60 Unrealized +68.3%

IIIN INSTEEL INDS INC 0.0%

Value ($000) $12,350 (-19.9%) Shares 389,954 (-3.1%) Est. Cost $28.07 Unrealized +13.8%

SANM SANMINA CORPORATION 0.0%

Value ($000) $2,308 (-57.1%) Shares 15,377 (-67.1%) Est. Cost $56.21 Unrealized +162.6%

PAAS PAN AMERN SILVER CORP 0.3%

Value ($000) $180,889 (+1.6%) Shares 3,488,959 (-24.1%) Est. Cost $32.15 Unrealized +30.2%

CLW CLEARWATER PAPER CORP 0.0%

Value ($000) $1,437 (-66.6%) Shares 82,609 (-60.1%) Est. Cost $27.12 Unrealized -32.0%

TIC TIC SOLUTIONS INC 0.0%

Value ($000) $910 (-75.1%) Shares 90,000 (-67.2%) Est. Cost $11.40 Unrealized -2.4%

HL HECLA MNG CO 0.0%

Value ($000) $23,924 (+12.9%) Shares 1,246,713 (-28.8%) Est. Cost $5.10 Unrealized +199.8%

GEOS GEOSPACE TECHNOLOGIES CORP 0.0%

Value ($000) $7,276 (-26.6%) Shares 430,273 (-17.7%) Est. Cost $10.01 Unrealized +100.7%

TTMI TTM TECHNOLOGIES INC 0.0%

Value ($000) $18,231 (-12.1%) Shares 264,219 (-26.7%) Est. Cost $14.95 Unrealized +336.6%

ASYS AMTECH SYS INC 0.0%

Value ($000) $9,216 (+32.3%) Shares 734,346 (-2.4%) Est. Cost $8.02 Unrealized +12.3%

ALTG ALTA EQUIPMENT GROUP INC 0.0%

Value ($000) $3,517 (-37.9%) Shares 764,591 (-2.3%) Est. Cost $6.33 Unrealized -13.2%

ASTE ASTEC INDS INC 0.0%

Value ($000) $12,227 (-14.8%) Shares 282,250 (-5.3%) Est. Cost $37.71 Unrealized +20.8%

FOR FORESTAR GROUP INC 0.0%

Value ($000) $12,211 (-14.5%) Shares 495,769 (-7.7%) Est. Cost $31.05 Unrealized -17.9%

DEO DIAGEO PLC 0.0%

Value ($000) $10,730 (-15.4%) Shares 124,372 (-6.5%) Est. Cost $111.26 Unrealized —

CENX CENTURY ALUM CO 0.0%

Value ($000) $11,817 (+18.3%) Shares 301,612 (-11.3%) Est. Cost $9.04 Unrealized +245.8%

ATRO ASTRONICS CORP 0.0%

Value ($000) $12,493 (+15.9%) Shares 230,326 (-2.5%) Est. Cost $15.33 Unrealized +228.3%

LYTS LSI INDS INC OHIO 0.0%

Value ($000) $5,192 (-24.3%) Shares 283,422 (-2.4%) Est. Cost $12.21 Unrealized +66.5%

SVCO SILVACO GROUP INC 0.0%

Value ($000) $2,540 (-39.4%) Shares 627,211 (-19.1%) Est. Cost $11.96 Unrealized -58.5%

INFU INFUSYSTEM HLDGS INC 0.0%

Value ($000) $6,740 (-18.9%) Shares 751,371 (-6.3%) Est. Cost $8.62 Unrealized +11.0%

AL AIR LEASE CORP 0.0%

Value ($000) $2,795 (-35.7%) Shares 43,522 (-36.3%) Est. Cost $37.62 Unrealized +69.3%

NGS NATURAL GAS SVCS GROUP INC 0.0%

Value ($000) $9,935 (+18.4%) Shares 295,239 (-1.5%) Est. Cost $22.30 Unrealized +33.2%

LOCO EL POLLO LOCO HLDGS INC 0.0%

Value ($000) $5,730 (-20.4%) Shares 547,793 (-26.2%) Est. Cost $10.89 Unrealized -5.1%

RBBN RIBBON COMMUNICATIONS INC 0.0%

Value ($000) $2,484 (-36.8%) Shares 862,528 (-16.6%) Est. Cost $3.74 Unrealized -13.8%

VPG VISHAY PRECISION GROUP INC 0.0%

Value ($000) $9,305 (+17.5%) Shares 241,692 (-2.2%) Est. Cost $24.39 Unrealized +45.0%

IPI INTREPID POTASH INC 0.0%

Value ($000) $6,910 (-16.5%) Shares 249,174 (-7.9%) Est. Cost $23.65 Unrealized +13.7%

LXU LSB INDS INC 0.0%

Value ($000) $11,142 (-10.5%) Shares 1,310,794 (-17.0%) Est. Cost $9.83 Unrealized -10.2%

ACA ARCOSA INC 0.0%

Value ($000) $13,339 (+10.8%) Shares 125,462 (-2.3%) Est. Cost $68.62 Unrealized +47.0%

ASIX ADVANSIX INC 0.0%

Value ($000) $3,028 (-29.6%) Shares 175,024 (-21.2%) Est. Cost $29.27 Unrealized -40.7%

INTT INTEST CORP 0.0%

Value ($000) $2,784 (-31.1%) Shares 372,702 (-28.0%) Est. Cost $11.95 Unrealized -33.8%

YETI YETI HLDGS INC 0.0%

Value ($000) $5,941 (+25.7%) Shares 134,500 (-5.5%) Est. Cost $38.92 Unrealized -1.2%

VECO VEECO INSTRS INC DEL 0.0%

Value ($000) $13,416 (-8.0%) Shares 469,408 (-2.1%) Est. Cost $26.27 Unrealized +12.9%

GHM GRAHAM CORP 0.0%

Value ($000) $17,996 (+6.9%) Shares 280,173 (-8.6%) Est. Cost $17.05 Unrealized +254.0%

VSEC VSE CORP 0.0%

Value ($000) $3,546 (-23.2%) Shares 20,522 (-26.1%) Est. Cost $46.93 Unrealized +264.2%

EMBC EMBECTA CORP 0.0%

Value ($000) $4,652 (-16.9%) Shares 391,594 (-1.3%) Est. Cost $16.50 Unrealized -20.9%

OSIS OSI SYSTEMS INC 0.0%

Value ($000) $6,775 (-11.9%) Shares 26,564 (-13.9%) Est. Cost $175.84 Unrealized +48.5%

AEIS ADVANCED ENERGY INDS 0.0%

Value ($000) $20,617 (+4.3%) Shares 98,473 (-15.2%) Est. Cost $91.95 Unrealized +121.3%

AVNW AVIAT NETWORKS INC 0.0%

Value ($000) $7,871 (-9.8%) Shares 368,156 (-3.2%) Est. Cost $19.20 Unrealized +16.2%

DGII DIGI INTL INC 0.0%

Value ($000) $7,334 (+12.7%) Shares 169,409 (-5.0%) Est. Cost $29.53 Unrealized +35.6%

DY DYCOM INDS INC 0.0%

Value ($000) $12,770 (-5.8%) Shares 37,792 (-18.6%) Est. Cost $172.29 Unrealized +83.0%

TEL TE CONNECTIVITY PLC 0.0%

Value ($000) $25,330 (-3.0%) Shares 111,336 (-6.4%) Est. Cost $146.90 Unrealized +57.4%

MUR MURPHY OIL CORP 0.0%

Value ($000) $8,406 (-8.3%) Shares 269,000 (-16.6%) Est. Cost $26.56 Unrealized +11.5%

BDC BELDEN INC 0.0%

Value ($000) $9,328 (-7.3%) Shares 80,037 (-4.4%) Est. Cost $81.71 Unrealized +42.7%

SMHI SEACOR MARINE HLDGS INC 0.0%

Value ($000) $6,689 (-9.2%) Shares 1,111,167 (-2.1%) Est. Cost $9.84 Unrealized -32.8%

AVAH AVEANNA HEALTHCARE HLDGS INC 0.0%

Value ($000) $6,386 (-9.1%) Shares 781,667 (-1.3%) Est. Cost $4.97 Unrealized +81.6%

HLLY HOLLEY INC 0.0%

Value ($000) $1,965 (+29.0%) Shares 475,797 (-2.0%) Est. Cost $2.74 Unrealized +31.6%

REPX RILEY EXPLORATION PERMIAN IN 0.0%

Value ($000) $5,205 (-7.5%) Shares 197,148 (-5.1%) Est. Cost $24.55 Unrealized +6.4%

AORT ARTIVION INC 0.0%

Value ($000) $13,997 (-2.9%) Shares 306,893 (-9.8%) Est. Cost $16.83 Unrealized +164.6%

AIRG AIRGAIN INC 0.0%

Value ($000) $1,830 (-16.6%) Shares 450,765 (-10.9%) Est. Cost $6.35 Unrealized -36.2%

HOFT HOOKER FURNISHINGS CORPORATI 0.0%

Value ($000) $4,057 (+9.5%) Shares 359,350 (-1.5%) Est. Cost $12.76 Unrealized -21.1%

ANGO ANGIODYNAMICS INC 0.0%

Value ($000) $3,438 (+11.0%) Shares 267,735 (-3.5%) Est. Cost $6.67 Unrealized +85.1%

TILE INTERFACE INC 0.0%

Value ($000) $3,687 (-7.4%) Shares 132,043 (-4.0%) Est. Cost $15.61 Unrealized +74.7%

SND SMART SAND INC 0.0%

Value ($000) $902 (+47.1%) Shares 225,476 (-21.3%) Est. Cost $2.14 Unrealized +32.2%

CECO CECO ENVIRONMENTAL CORP 0.0%

Value ($000) $21,957 (-1.2%) Shares 366,867 (-15.5%) Est. Cost $16.76 Unrealized +219.1%

NATR NATURES SUNSHINE PRODS INC 0.0%

Value ($000) $2,132 (+14.5%) Shares 98,800 (-17.7%) Est. Cost $13.51 Unrealized +35.7%

GNRC GENERAC HLDGS INC 0.0%

Value ($000) $614 (-30.0%) Shares 4,500 (-14.0%) Est. Cost $127.74 Unrealized +26.3%

CIEN CIENA CORP 0.0%

Value ($000) $9,565 (-2.6%) Shares 40,900 (-39.3%) Est. Cost $71.73 Unrealized +170.5%

THC TENET HEALTHCARE CORP 0.0%

Value ($000) $1,278 (-16.4%) Shares 6,433 (-14.6%) Est. Cost $69.31 Unrealized +191.6%

CAH CARDINAL HEALTH INC 0.0%

Value ($000) $1,444 (+17.5%) Shares 7,029 (-10.2%) Est. Cost $80.26 Unrealized +133.9%

FOSL FOSSIL GROUP INC 0.0%

Value ($000) $1,861 (+12.9%) Shares 495,000 (-22.8%) Est. Cost $1.48 Unrealized +91.0%

EVER EVERQUOTE INC 0.0%

Value ($000) $6,803 (+3.1%) Shares 251,957 (-12.7%) Est. Cost $10.69 Unrealized +126.8%

WCC WESCO INTL INC 0.0%

Value ($000) $13,995 (+1.5%) Shares 57,208 (-12.3%) Est. Cost $166.80 Unrealized +46.9%

COHR COHERENT CORP 0.0%

Value ($000) $1,148 (+21.1%) Shares 6,221 (-29.3%) Est. Cost $54.65 Unrealized +173.7%

RES RPC INC 0.0%

Value ($000) $1,780 (+11.9%) Shares 327,149 (-2.1%) Est. Cost $5.90 Unrealized -12.8%

SDRL SEADRILL LTD 0.0%

Value ($000) $1,664 (+12.2%) Shares 48,100 (-2.0%) Est. Cost $32.48 Unrealized -4.1%

CLAR CLARUS CORP NEW 0.0%

Value ($000) $2,826 (-5.6%) Shares 843,475 (-1.4%) Est. Cost $6.16 Unrealized -44.9%

KODK EASTMAN KODAK CO 0.0%

Value ($000) $4,871 (+3.5%) Shares 575,738 (-21.6%) Est. Cost $6.19 Unrealized +20.8%

RLGT RADIANT LOGISTICS INC 0.0%

Value ($000) $3,173 (+5.2%) Shares 501,301 (-2.0%) Est. Cost $6.45 Unrealized -3.9%

PWR QUANTA SVCS INC 0.0%

Value ($000) $936 (-13.7%) Shares 2,218 (-15.3%) Est. Cost $237.12 Unrealized +85.3%

EXEL EXELIXIS INC 0.0%

Value ($000) $551 (-18.0%) Shares 12,571 (-22.7%) Est. Cost $23.59 Unrealized +75.4%

PHM PULTE GROUP INC 0.0%

Value ($000) $265 (-31.2%) Shares 2,259 (-22.5%) Est. Cost $120.53 Unrealized +1.6%

TWI TITAN INTL INC ILL 0.0%

Value ($000) $4,814 (+2.3%) Shares 614,751 (-1.2%) Est. Cost $7.86 Unrealized -0.3%

NPKI NPK INTERNATIONAL INC 0.0%

Value ($000) $3,163 (+2.8%) Shares 265,321 (-2.5%) Est. Cost $7.01 Unrealized +74.1%

CASY CASEYS GEN STORES INC 0.0%

Value ($000) $494 (-12.1%) Shares 893 (-10.1%) Est. Cost $258.89 Unrealized +112.3%

CRH CRH PLC 0.0%

Value ($000) $381 (-14.7%) Shares 3,042 (-18.6%) Est. Cost $66.30 Unrealized +79.7%

EQIX EQUINIX INC 0.0%

Value ($000) $270 (-19.5%) Shares 353 (-17.7%) Est. Cost $783.92 Unrealized -0.3%

CW CURTISS WRIGHT CORP 0.0%

Value ($000) $913 (-4.2%) Shares 1,656 (-5.7%) Est. Cost $172.07 Unrealized +224.1%

TOL TOLL BROTHERS INC 0.0%

Value ($000) $391 (-8.4%) Shares 2,891 (-6.5%) Est. Cost $63.94 Unrealized +112.3%

ROKU ROKU INC 0.0%

Value ($000) $651 (+4.9%) Shares 6,000 (-3.2%) Est. Cost $92.23 Unrealized +10.0%

GSM FERROGLOBE PLC 0.0%

Value ($000) $9,574 (+0.2%) Shares 2,063,272 (-1.8%) Est. Cost $4.98 Unrealized -7.6%

XPO XPO INC 0.0%

Value ($000) $504 (+0.4%) Shares 3,711 (-4.5%) Est. Cost $49.42 Unrealized +175.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ORCL	ORACLE CORP	8,290,272 (-6.2%)	$1,615,857 (-35.0%)	2.8%	$29.56	+705.2%	COM	68389X105
GOOG	ALPHABET INC	7,369,114 (-2.1%)	$2,312,428 (+26.1%)	4.1%	$114.00	+151.2%	CAP STK CL C	02079K107
META	META PLATFORMS INC	3,149,947 (-5.5%)	$2,079,248 (-15.0%)	3.7%	$199.75	+234.1%	CL A	30303M102
GOOGL	ALPHABET INC	1,727,965 (-47.1%)	$540,853 (-31.9%)	1.0%	$106.67	+167.7%	CAP STK CL A	02079K305
RGLD	ROYAL GOLD INC	926,123 (-58.8%)	$205,868 (-54.3%)	0.4%	$79.64	+149.1%	COM	780287108
IMO	IMPERIAL OIL LTD	18,605,005 (-7.6%)	$1,607,314 (-12.0%)	2.8%	$24.19	+274.9%	COM NEW	453038408
CMI	CUMMINS INC	754,938 (-47.0%)	$385,358 (-35.9%)	0.7%	$100.80	+362.6%	COM	231021106
B	BARRICK MNG CORP	32,114,660 (-16.9%)	$1,398,593 (+10.4%)	2.5%	$19.29	+94.0%	COM SHS	06849F108
WPM	WHEATON PRECIOUS METALS CORP	15,390,108 (-10.3%)	$1,808,646 (-5.8%)	3.2%	$22.39	+378.3%	COM	962879102
GLD	SPDR GOLD TR	2,474,833 (-2.2%)	$980,801 (+9.0%)	1.7%	$137.12	—	GOLD SHS	78463V107
TSM	TAIWAN SEMICONDUCTOR MFG LTD	5,938,326 (-11.4%)	$1,804,598 (-3.6%)	3.2%	$70.01	—	SPONSORED ADS	874039100
DEI	DOUGLAS EMMETT INC	12,557,124 (-3.4%)	$138,003 (-31.8%)	0.2%	$23.44	—	COM	25960P109
PM	PHILIP MORRIS INTL INC	5,808,120 (-5.1%)	$931,623 (-6.2%)	1.6%	$61.46	+149.9%	COM	718172109
CHRW	C H ROBINSON WORLDWIDE INC	9,074,016 (-14.1%)	$1,458,739 (+4.3%)	2.6%	$64.21	+129.4%	COM NEW	12541W209
NEM	NEWMONT CORP	13,717,958 (-12.3%)	$1,369,738 (+3.9%)	2.4%	$32.30	+179.2%	COM	651639106
AXP	AMERICAN EXPRESS CO	1,639,846 (-4.8%)	$606,661 (+6.0%)	1.1%	$76.22	+368.3%	COM	025816109
BXP	BXP INC	3,410,909 (-3.4%)	$230,168 (-12.4%)	0.4%	$67.89	+3.7%	COM	101121101
HCA	HCA HEALTHCARE INC	3,646,152 (-7.0%)	$1,702,243 (+1.9%)	3.0%	$154.93	+199.3%	COM	40412C101
DG	DOLLAR GEN CORP NEW	4,417,971 (-26.1%)	$586,574 (-5.0%)	1.0%	$76.46	+45.8%	COM	256677105
AGI	ALAMOS GOLD INC NEW	6,173,289 (-1.2%)	$238,382 (+9.5%)	0.4%	$7.05	+393.9%	COM CL A	011532108
BTG	B2GOLD CORP	9,708,102 (-24.6%)	$43,712 (-31.3%)	0.1%	$2.65	+75.6%	COM	11777Q209
NG	NOVAGOLD RES INC	9,177,188 (-22.3%)	$85,531 (-17.7%)	0.2%	$5.63	+64.6%	COM NEW	66987E206
AU	ANGLOGOLD ASHANTI PLC	1,491,498 (-27.5%)	$127,195 (-12.1%)	0.2%	$19.70	+293.3%	COM SHS	G0378L100
BRK/A	BERKSHIRE HATHAWAY INC DEL	553 (-2.8%)	$417,404 (-2.7%)	0.7%	$176635.08	+322.6%	CL A	084670108
CDE	COEUR MNG INC	1,231,606 (-25.6%)	$21,960 (-29.3%)	0.0%	$3.18	+446.8%	COM NEW	192108504
BK	BANK NEW YORK MELLON CORP	9,745,637 (-5.4%)	$1,131,371 (+0.8%)	2.0%	$24.44	+352.1%	COM	064058100
KGC	KINROSS GOLD CORP	9,228,855 (-8.8%)	$259,885 (+3.4%)	0.5%	$8.28	+213.9%	COM	496902404
ORLA	ORLA MNG LTD NEW	4,769,471 (-29.0%)	$64,148 (-11.5%)	0.1%	$4.14	+193.2%	COM	68634K106
MGNI	MAGNITE INC	296,443 (-48.5%)	$4,811 (-61.6%)	0.0%	$14.95	+11.0%	COM	55955D100
WRBY	WARBY PARKER INC	352,941 (-35.8%)	$7,691 (-49.3%)	0.0%	$20.26	+7.4%	CL A COM	93403J106
AMRC	AMERESCO INC	574,673 (-20.2%)	$16,832 (-30.4%)	0.0%	$23.49	+49.5%	CL A	02361E108
AXGN	AXOGEN INC	407,593 (-5.6%)	$13,341 (+73.2%)	0.0%	$13.93	+76.6%	COM	05463X106
EYE	NATIONAL VISION HLDGS INC	451,552 (-23.0%)	$11,659 (-31.9%)	0.0%	$17.36	+55.0%	COM	63845R107
KTOS	KRATOS DEFENSE & SEC SOLUTIO	133,063 (-21.8%)	$10,101 (-35.0%)	0.0%	$18.85	+334.4%	COM NEW	50077B207
KALU	KAISER ALUMINUM CORP	146,915 (-4.1%)	$16,875 (+42.7%)	0.0%	$63.35	+49.1%	COM PAR $0.01	483007704
AEM	AGNICO EAGLE MINES LTD	5,192,410 (-1.3%)	$880,558 (-0.6%)	1.5%	$37.07	+352.8%	COM	008474108
PR	PERMIAN RESOURCES CORP	36,643 (-90.9%)	$514 (-90.1%)	0.0%	$13.25	+1.4%	CLASS A COM	71424F105
UHS	UNIVERSAL HLTH SVCS INC	4,313,583 (-6.7%)	$940,447 (-0.5%)	1.7%	$120.59	+83.2%	CL B	913903100
ATEC	ALPHATEC HLDGS INC	676,137 (-3.2%)	$14,226 (+40.1%)	0.0%	$8.55	+116.5%	COM NEW	02081G201
FORM	FORMFACTOR INC	269,222 (-10.6%)	$15,017 (+36.9%)	0.0%	$30.49	+65.3%	COM	346375108
GFI	GOLD FIELDS LTD	3,538,081 (-1.4%)	$154,473 (+2.6%)	0.3%	$15.71	—	SPONSORED ADR	38059T106
QNST	QUINSTREET INC	249,874 (-45.8%)	$3,591 (-49.6%)	0.0%	$14.05	+2.7%	COM	74874Q100
FN	FABRINET	28,673 (-36.3%)	$13,054 (-20.5%)	0.0%	$203.50	+113.8%	SHS	G3323L100
OUT	OUTFRONT MEDIA INC	748,535 (-7.2%)	$18,040 (+22.1%)	0.0%	$16.14	—	COM NEW	69007J304
MAMA	MAMAS CREATIONS INC	1,277,470 (-4.5%)	$17,233 (+22.6%)	0.0%	$6.72	+71.0%	COM	56146T103
VIAV	VIAVI SOLUTIONS INC	723,800 (-6.2%)	$12,898 (+31.7%)	0.0%	$9.60	+68.3%	COM	925550105
IIIN	INSTEEL INDS INC	389,954 (-3.1%)	$12,350 (-19.9%)	0.0%	$28.07	+13.8%	COM	45774W108
SANM	SANMINA CORPORATION	15,377 (-67.1%)	$2,308 (-57.1%)	0.0%	$56.21	+162.6%	COM	801056102
PAAS	PAN AMERN SILVER CORP	3,488,959 (-24.1%)	$180,889 (+1.6%)	0.3%	$32.15	+30.2%	COM	697900108
CLW	CLEARWATER PAPER CORP	82,609 (-60.1%)	$1,437 (-66.6%)	0.0%	$27.12	-32.0%	COM	18538R103
TIC	TIC SOLUTIONS INC	90,000 (-67.2%)	$910 (-75.1%)	0.0%	$11.40	-2.4%	COM	00510N102
HL	HECLA MNG CO	1,246,713 (-28.8%)	$23,924 (+12.9%)	0.0%	$5.10	+199.8%	COM	422704106
GEOS	GEOSPACE TECHNOLOGIES CORP	430,273 (-17.7%)	$7,276 (-26.6%)	0.0%	$10.01	+100.7%	COM	37364X109
TTMI	TTM TECHNOLOGIES INC	264,219 (-26.7%)	$18,231 (-12.1%)	0.0%	$14.95	+336.6%	COM	87305R109
ASYS	AMTECH SYS INC	734,346 (-2.4%)	$9,216 (+32.3%)	0.0%	$8.02	+12.3%	COM PAR $0.01N	032332504
ALTG	ALTA EQUIPMENT GROUP INC	764,591 (-2.3%)	$3,517 (-37.9%)	0.0%	$6.33	-13.2%	COMMON STOCK	02128L106
ASTE	ASTEC INDS INC	282,250 (-5.3%)	$12,227 (-14.8%)	0.0%	$37.71	+20.8%	COM	046224101
FOR	FORESTAR GROUP INC	495,769 (-7.7%)	$12,211 (-14.5%)	0.0%	$31.05	-17.9%	COM	346232101
DEO	DIAGEO PLC	124,372 (-6.5%)	$10,730 (-15.4%)	0.0%	$111.26	—	SPON ADR NEW	25243Q205
CENX	CENTURY ALUM CO	301,612 (-11.3%)	$11,817 (+18.3%)	0.0%	$9.04	+245.8%	COM	156431108
ATRO	ASTRONICS CORP	230,326 (-2.5%)	$12,493 (+15.9%)	0.0%	$15.33	+228.3%	COM	046433108
LYTS	LSI INDS INC OHIO	283,422 (-2.4%)	$5,192 (-24.3%)	0.0%	$12.21	+66.5%	COM	50216C108
SVCO	SILVACO GROUP INC	627,211 (-19.1%)	$2,540 (-39.4%)	0.0%	$11.96	-58.5%	COM	82728C102
INFU	INFUSYSTEM HLDGS INC	751,371 (-6.3%)	$6,740 (-18.9%)	0.0%	$8.62	+11.0%	COM	45685K102
AL	AIR LEASE CORP	43,522 (-36.3%)	$2,795 (-35.7%)	0.0%	$37.62	+69.3%	CL A	00912X302
NGS	NATURAL GAS SVCS GROUP INC	295,239 (-1.5%)	$9,935 (+18.4%)	0.0%	$22.30	+33.2%	COM	63886Q109
LOCO	EL POLLO LOCO HLDGS INC	547,793 (-26.2%)	$5,730 (-20.4%)	0.0%	$10.89	-5.1%	COM	268603107
RBBN	RIBBON COMMUNICATIONS INC	862,528 (-16.6%)	$2,484 (-36.8%)	0.0%	$3.74	-13.8%	COM	762544104
VPG	VISHAY PRECISION GROUP INC	241,692 (-2.2%)	$9,305 (+17.5%)	0.0%	$24.39	+45.0%	COM	92835K103
IPI	INTREPID POTASH INC	249,174 (-7.9%)	$6,910 (-16.5%)	0.0%	$23.65	+13.7%	COM	46121Y201
LXU	LSB INDS INC	1,310,794 (-17.0%)	$11,142 (-10.5%)	0.0%	$9.83	-10.2%	COM	502160104
ACA	ARCOSA INC	125,462 (-2.3%)	$13,339 (+10.8%)	0.0%	$68.62	+47.0%	COM	039653100
ASIX	ADVANSIX INC	175,024 (-21.2%)	$3,028 (-29.6%)	0.0%	$29.27	-40.7%	COM	00773T101
INTT	INTEST CORP	372,702 (-28.0%)	$2,784 (-31.1%)	0.0%	$11.95	-33.8%	COM	461147100
YETI	YETI HLDGS INC	134,500 (-5.5%)	$5,941 (+25.7%)	0.0%	$38.92	-1.2%	COM	98585X104
VECO	VEECO INSTRS INC DEL	469,408 (-2.1%)	$13,416 (-8.0%)	0.0%	$26.27	+12.9%	COM	922417100
GHM	GRAHAM CORP	280,173 (-8.6%)	$17,996 (+6.9%)	0.0%	$17.05	+254.0%	COM	384556106
VSEC	VSE CORP	20,522 (-26.1%)	$3,546 (-23.2%)	0.0%	$46.93	+264.2%	COM	918284100
EMBC	EMBECTA CORP	391,594 (-1.3%)	$4,652 (-16.9%)	0.0%	$16.50	-20.9%	COMMON STOCK	29082K105
OSIS	OSI SYSTEMS INC	26,564 (-13.9%)	$6,775 (-11.9%)	0.0%	$175.84	+48.5%	COM	671044105
AEIS	ADVANCED ENERGY INDS	98,473 (-15.2%)	$20,617 (+4.3%)	0.0%	$91.95	+121.3%	COM	007973100
AVNW	AVIAT NETWORKS INC	368,156 (-3.2%)	$7,871 (-9.8%)	0.0%	$19.20	+16.2%	COM NEW	05366Y201
DGII	DIGI INTL INC	169,409 (-5.0%)	$7,334 (+12.7%)	0.0%	$29.53	+35.6%	COM	253798102
DY	DYCOM INDS INC	37,792 (-18.6%)	$12,770 (-5.8%)	0.0%	$172.29	+83.0%	COM	267475101
TEL	TE CONNECTIVITY PLC	111,336 (-6.4%)	$25,330 (-3.0%)	0.0%	$146.90	+57.4%	ORD SHS	G87052109
MUR	MURPHY OIL CORP	269,000 (-16.6%)	$8,406 (-8.3%)	0.0%	$26.56	+11.5%	COM	626717102
BDC	BELDEN INC	80,037 (-4.4%)	$9,328 (-7.3%)	0.0%	$81.71	+42.7%	COM	077454106
SMHI	SEACOR MARINE HLDGS INC	1,111,167 (-2.1%)	$6,689 (-9.2%)	0.0%	$9.84	-32.8%	COM	78413P101
AVAH	AVEANNA HEALTHCARE HLDGS INC	781,667 (-1.3%)	$6,386 (-9.1%)	0.0%	$4.97	+81.6%	COM	05356F105
HLLY	HOLLEY INC	475,797 (-2.0%)	$1,965 (+29.0%)	0.0%	$2.74	+31.6%	COM	43538H103
REPX	RILEY EXPLORATION PERMIAN IN	197,148 (-5.1%)	$5,205 (-7.5%)	0.0%	$24.55	+6.4%	COM	76665T102
AORT	ARTIVION INC	306,893 (-9.8%)	$13,997 (-2.9%)	0.0%	$16.83	+164.6%	COM	228903100
AIRG	AIRGAIN INC	450,765 (-10.9%)	$1,830 (-16.6%)	0.0%	$6.35	-36.2%	COM	00938A104
HOFT	HOOKER FURNISHINGS CORPORATI	359,350 (-1.5%)	$4,057 (+9.5%)	0.0%	$12.76	-21.1%	COM	439038100
ANGO	ANGIODYNAMICS INC	267,735 (-3.5%)	$3,438 (+11.0%)	0.0%	$6.67	+85.1%	COM	03475V101
TILE	INTERFACE INC	132,043 (-4.0%)	$3,687 (-7.4%)	0.0%	$15.61	+74.7%	COM	458665304
SND	SMART SAND INC	225,476 (-21.3%)	$902 (+47.1%)	0.0%	$2.14	+32.2%	COM	83191H107
CECO	CECO ENVIRONMENTAL CORP	366,867 (-15.5%)	$21,957 (-1.2%)	0.0%	$16.76	+219.1%	COM	125141101
NATR	NATURES SUNSHINE PRODS INC	98,800 (-17.7%)	$2,132 (+14.5%)	0.0%	$13.51	+35.7%	COM	639027101
GNRC	GENERAC HLDGS INC	4,500 (-14.0%)	$614 (-30.0%)	0.0%	$127.74	+26.3%	COM	368736104
CIEN	CIENA CORP	40,900 (-39.3%)	$9,565 (-2.6%)	0.0%	$71.73	+170.5%	COM NEW	171779309
THC	TENET HEALTHCARE CORP	6,433 (-14.6%)	$1,278 (-16.4%)	0.0%	$69.31	+191.6%	COM NEW	88033G407
CAH	CARDINAL HEALTH INC	7,029 (-10.2%)	$1,444 (+17.5%)	0.0%	$80.26	+133.9%	COM	14149Y108
FOSL	FOSSIL GROUP INC	495,000 (-22.8%)	$1,861 (+12.9%)	0.0%	$1.48	+91.0%	COM	34988V106
EVER	EVERQUOTE INC	251,957 (-12.7%)	$6,803 (+3.1%)	0.0%	$10.69	+126.8%	COM CL A	30041R108
WCC	WESCO INTL INC	57,208 (-12.3%)	$13,995 (+1.5%)	0.0%	$166.80	+46.9%	COM	95082P105
COHR	COHERENT CORP	6,221 (-29.3%)	$1,148 (+21.1%)	0.0%	$54.65	+173.7%	COM	19247G107
RES	RPC INC	327,149 (-2.1%)	$1,780 (+11.9%)	0.0%	$5.90	-12.8%	COM	749660106
SDRL	SEADRILL LTD	48,100 (-2.0%)	$1,664 (+12.2%)	0.0%	$32.48	-4.1%	COM	G7997W102
CLAR	CLARUS CORP NEW	843,475 (-1.4%)	$2,826 (-5.6%)	0.0%	$6.16	-44.9%	COM	18270P109
KODK	EASTMAN KODAK CO	575,738 (-21.6%)	$4,871 (+3.5%)	0.0%	$6.19	+20.8%	COM NEW	277461406
RLGT	RADIANT LOGISTICS INC	501,301 (-2.0%)	$3,173 (+5.2%)	0.0%	$6.45	-3.9%	COM	75025X100
PWR	QUANTA SVCS INC	2,218 (-15.3%)	$936 (-13.7%)	0.0%	$237.12	+85.3%	COM	74762E102
EXEL	EXELIXIS INC	12,571 (-22.7%)	$551 (-18.0%)	0.0%	$23.59	+75.4%	COM	30161Q104
PHM	PULTE GROUP INC	2,259 (-22.5%)	$265 (-31.2%)	0.0%	$120.53	+1.6%	COM	745867101
TWI	TITAN INTL INC ILL	614,751 (-1.2%)	$4,814 (+2.3%)	0.0%	$7.86	-0.3%	COM	88830M102
NPKI	NPK INTERNATIONAL INC	265,321 (-2.5%)	$3,163 (+2.8%)	0.0%	$7.01	+74.1%	COM SHS	651718504
CASY	CASEYS GEN STORES INC	893 (-10.1%)	$494 (-12.1%)	0.0%	$258.89	+112.3%	COM	147528103
CRH	CRH PLC	3,042 (-18.6%)	$381 (-14.7%)	0.0%	$66.30	+79.7%	ORD	G25508105
EQIX	EQUINIX INC	353 (-17.7%)	$270 (-19.5%)	0.0%	$783.92	-0.3%	COM	29444U700
CW	CURTISS WRIGHT CORP	1,656 (-5.7%)	$913 (-4.2%)	0.0%	$172.07	+224.1%	COM	231561101
TOL	TOLL BROTHERS INC	2,891 (-6.5%)	$391 (-8.4%)	0.0%	$63.94	+112.3%	COM	889478103
ROKU	ROKU INC	6,000 (-3.2%)	$651 (+4.9%)	0.0%	$92.23	+10.0%	COM CL A	77543R102
GSM	FERROGLOBE PLC	2,063,272 (-1.8%)	$9,574 (+0.2%)	0.0%	$4.98	-7.6%	SHS	G33856108
XPO	XPO INC	3,711 (-4.5%)	$504 (+0.4%)	0.0%	$49.42	+175.7%	COM	983793100

Unchanged Positions (99)

EXPD EXPEDITORS INTL WASH INC 1.7%

Value ($000) $940,597 Shares 6,312,305 Est. Cost $95.91 Unrealized +41.4%

ELV ELEVANCE HEALTH INC FORMERLY 2.5%

Value ($000) $1,410,219 Shares 4,022,874 Est. Cost $288.83 Unrealized +16.6%

SLB SLB LIMITED 1.9%

Value ($000) $1,063,834 Shares 27,718,458 Est. Cost $43.68 Unrealized -17.4%

NOV NOV INC 1.0%

Value ($000) $587,655 Shares 37,597,874 Est. Cost $14.98 Unrealized -0.9%

WTW WILLIS TOWERS WATSON PLC LTD 2.5%

Value ($000) $1,396,814 Shares 4,250,802 Est. Cost $172.60 Unrealized +89.2%

ABEV AMBEV SA 1.5%

Value ($000) $830,063 Shares 336,057,984 Est. Cost $2.55 Unrealized —

XOM EXXON MOBIL CORP 1.6%

Value ($000) $933,095 Shares 7,753,826 Est. Cost $51.44 Unrealized +124.5%

ADI ANALOG DEVICES INC 1.0%

Value ($000) $549,405 Shares 2,025,829 Est. Cost $76.23 Unrealized +228.8%

CMCSA COMCAST CORP NEW 1.9%

Value ($000) $1,081,179 Shares 36,171,945 Est. Cost $28.39 Unrealized +0.5%

USB US BANCORP DEL 0.8%

Value ($000) $470,547 Shares 8,818,344 Est. Cost $23.93 Unrealized +103.6%

NTR NUTRIEN LTD 1.4%

Value ($000) $821,326 Shares 13,307,283 Est. Cost $43.85 Unrealized +34.2%

TXN TEXAS INSTRS INC 1.1%

Value ($000) $633,119 Shares 3,649,310 Est. Cost $83.07 Unrealized +105.5%

IPGP IPG PHOTONICS CORP 0.6%

Value ($000) $321,277 Shares 4,487,103 Est. Cost $129.57 Unrealized -37.0%

FNF FIDELITY NATIONAL FINANCIAL 0.6%

Value ($000) $333,137 Shares 6,102,523 Est. Cost $33.80 Unrealized +62.0%

FMX FOMENTO ECONOMICO MEXICANO S 2.2%

Value ($000) $1,264,104 Shares 12,507,215 Est. Cost $70.23 Unrealized —

PPG PPG INDS INC 1.1%

Value ($000) $644,537 Shares 6,290,622 Est. Cost $111.51 Unrealized -10.2%

EQR EQUITY RESIDENTIAL 1.0%

Value ($000) $582,617 Shares 9,242,013 Est. Cost $52.98 Unrealized +14.5%

MDT MEDTRONIC PLC 1.7%

Value ($000) $939,009 Shares 9,775,234 Est. Cost $73.94 Unrealized +31.4%

CCU COMPANIA CERVECERIAS UNIDAS 0.4%

Value ($000) $203,087 Shares 15,915,910 Est. Cost $18.88 Unrealized —

THRY THRYV HLDGS INC 0.0%

Value ($000) $5,100 Shares 842,943 Est. Cost $14.05 Unrealized -43.6%

CL COLGATE PALMOLIVE CO 1.1%

Value ($000) $625,758 Shares 7,918,979 Est. Cost $53.52 Unrealized +46.3%

BKD BROOKDALE SR LIVING INC 0.0%

Value ($000) $21,100 Shares 1,955,530 Est. Cost $5.40 Unrealized +82.0%

KOF COCA-COLA FEMSA SAB DE CV 0.1%

Value ($000) $35,194 Shares 371,596 Est. Cost $62.14 Unrealized —

HD HOME DEPOT INC 0.0%

Value ($000) $16,748 Shares 48,672 Est. Cost $249.77 Unrealized +46.0%

BZH BEAZER HOMES USA INC 0.0%

Value ($000) $14,218 Shares 701,437 Est. Cost $25.01 Unrealized -11.0%

OMC OMNICOM GROUP INC 0.9%

Value ($000) $512,927 Shares 6,352,034 Est. Cost $74.34 Unrealized +1.9%

LPG DORIAN LPG LTD 0.0%

Value ($000) $9,391 Shares 385,825 Est. Cost $24.54 Unrealized +6.8%

ASPS ALTISOURCE PORTFOLIO SOLUTIO 0.0%

Value ($000) $3,028 Shares 435,686 Est. Cost $7.30 Unrealized +29.8%

MEC MAYVILLE ENGR CO INC 0.0%

Value ($000) $6,703 Shares 358,075 Est. Cost $15.62 Unrealized +4.4%

LNC LINCOLN NATL CORP IND 0.0%

Value ($000) $18,254 Shares 409,936 Est. Cost $23.85 Unrealized +72.6%

OIS OIL STS INTL INC 0.0%

Value ($000) $17,478 Shares 2,581,674 Est. Cost $5.62 Unrealized +14.2%

TMHC TAYLOR MORRISON HOME CORP 0.0%

Value ($000) $13,666 Shares 232,134 Est. Cost $59.76 Unrealized +2.3%

MTW MANITOWOC CO INC 0.0%

Value ($000) $9,932 Shares 828,369 Est. Cost $9.99 Unrealized +13.9%

HCSG HEALTHCARE SVCS GROUP INC 0.0%

Value ($000) $10,727 Shares 561,035 Est. Cost $11.52 Unrealized +56.2%

TITN TITAN MACHY INC 0.0%

Value ($000) $11,258 Shares 748,563 Est. Cost $19.99 Unrealized -19.5%

NVGS NAVIGATOR HLDGS LTD 0.0%

Value ($000) $12,048 Shares 695,619 Est. Cost $12.35 Unrealized +35.0%

WSR WHITESTONE REIT 0.0%

Value ($000) $9,904 Shares 713,049 Est. Cost $10.69 Unrealized —

STNG SCORPIO TANKERS INC 0.0%

Value ($000) $10,881 Shares 214,068 Est. Cost $64.28 Unrealized —

TRS TRIMAS CORP 0.0%

Value ($000) $10,447 Shares 294,706 Est. Cost $25.59 Unrealized +36.4%

VLY VALLEY NATL BANCORP 0.0%

Value ($000) $10,313 Shares 883,000 Est. Cost $8.61 Unrealized +28.8%

ORI OLD REP INTL CORP 0.0%

Value ($000) $12,809 Shares 280,662 Est. Cost $21.45 Unrealized +90.4%

AXS AXIS CAP HLDGS LTD 0.0%

Value ($000) $8,487 Shares 79,249 Est. Cost $62.85 Unrealized +58.1%

DOUG DOUGLAS ELLIMAN INC 0.0%

Value ($000) $3,830 Shares 1,615,871 Est. Cost $1.90 Unrealized +35.4%

NCMI NATIONAL CINEMEDIA INC 0.0%

Value ($000) $4,883 Shares 1,255,322 Est. Cost $4.50 Unrealized -8.0%

COHU COHU INC 0.0%

Value ($000) $5,763 Shares 247,646 Est. Cost $17.43 Unrealized +31.5%

IBP INSTALLED BLDG PRODS INC 0.0%

Value ($000) $15,820 Shares 60,988 Est. Cost $159.21 Unrealized +62.2%

CAE CAE INC 0.1%

Value ($000) $28,436 Shares 935,036 Est. Cost $21.09 Unrealized +33.0%

CHEF CHEFS WHSE INC 0.0%

Value ($000) $10,152 Shares 162,873 Est. Cost $31.77 Unrealized +89.3%

UNH UNITEDHEALTH GROUP INC 0.0%

Value ($000) $12,897 Shares 39,068 Est. Cost $442.00 Unrealized -23.7%

NMIH NMI HLDGS INC 0.0%

Value ($000) $11,146 Shares 273,259 Est. Cost $25.93 Unrealized +45.7%

TRN TRINITY INDS INC 0.0%

Value ($000) $10,474 Shares 396,147 Est. Cost $22.69 Unrealized +18.3%

LINC LINCOLN EDL SVCS CORP 0.0%

Value ($000) $18,804 Shares 778,630 Est. Cost $9.14 Unrealized +138.4%

JBTM JBT MAREL CORPORATION 0.0%

Value ($000) $9,586 Shares 63,623 Est. Cost $103.34 Unrealized +36.4%

DIS DISNEY WALT CO 0.7%

Value ($000) $391,755 Shares 3,443,391 Est. Cost $83.44 Unrealized +31.3%

IDA IDACORP INC 0.0%

Value ($000) $11,556 Shares 91,312 Est. Cost $104.29 Unrealized +24.7%

CTOS CUSTOM TRUCK ONE SOURCE INC 0.0%

Value ($000) $4,481 Shares 777,936 Est. Cost $4.82 Unrealized +26.6%

DNOW DNOW INC 0.0%

Value ($000) $3,081 Shares 232,530 Est. Cost $10.87 Unrealized +29.2%

POWW OUTDOOR HOLDING CO 0.0%

Value ($000) $3,251 Shares 1,901,370 Est. Cost $2.15 Unrealized -19.9%

MTN VAIL RESORTS INC 0.0%

Value ($000) $3,157 Shares 23,769 Est. Cost $148.56 Unrealized -0.9%

MTG MGIC INVT CORP WIS 0.0%

Value ($000) $12,046 Shares 412,253 Est. Cost $18.05 Unrealized +55.6%

NE NOBLE CORP PLC 0.6%

Value ($000) $344,410 Shares 12,195,825 Est. Cost $34.38 Unrealized -15.0%

DCO DUCOMMUN INC DEL 0.0%

Value ($000) $17,249 Shares 181,324 Est. Cost $49.93 Unrealized +86.5%

KVHI KVH INDS INC 0.0%

Value ($000) $1,469 Shares 210,826 Est. Cost $5.47 Unrealized +10.5%

CIA CITIZENS INC 0.0%

Value ($000) $2,839 Shares 587,750 Est. Cost $3.06 Unrealized +80.0%

JOUT JOHNSON OUTDOORS INC 0.0%

Value ($000) $5,896 Shares 138,888 Est. Cost $30.76 Unrealized +34.6%

MC MOELIS & CO 0.0%

Value ($000) $5,451 Shares 79,301 Est. Cost $39.48 Unrealized +66.6%

ACCO ACCO BRANDS CORP 0.0%

Value ($000) $3,217 Shares 862,369 Est. Cost $4.59 Unrealized -20.2%

DAL DELTA AIR LINES INC DEL 0.0%

Value ($000) $881 Shares 12,694 Est. Cost $42.45 Unrealized +47.1%

CRNT CERAGON NETWORKS LTD 0.0%

Value ($000) $1,245 Shares 592,690 Est. Cost $2.02 Unrealized +10.2%

PFGC PERFORMANCE FOOD GROUP CO 0.0%

Value ($000) $755 Shares 8,400 Est. Cost $62.97 Unrealized +53.3%

PEP PEPSICO INC 0.0%

Value ($000) $6,384 Shares 44,480 Est. Cost $126.65 Unrealized +15.2%

RDN RADIAN GROUP INC 0.0%

Value ($000) $9,202 Shares 255,688 Est. Cost $23.91 Unrealized +45.4%

GXO GXO LOGISTICS INCORPORATED 0.0%

Value ($000) $6,725 Shares 127,746 Est. Cost $52.95 Unrealized -0.8%

FEOE RBB FUND TRUST 0.0%

Value ($000) $1,343 Shares 27,780 Est. Cost $37.60 Unrealized —

DCOM DIME CMNTY BANCSHARES INC 0.0%

Value ($000) $7,879 Shares 261,852 Est. Cost $19.45 Unrealized +47.1%

ACN ACCENTURE PLC IRELAND 0.0%

Value ($000) $687 Shares 2,559 Est. Cost $224.74 Unrealized +13.0%

FLEX FLEX LTD 0.0%

Value ($000) $1,179 Shares 19,512 Est. Cost $28.02 Unrealized +120.5%

FEGE RBB FUND TRUST 0.0%

Value ($000) $1,272 Shares 27,635 Est. Cost $36.49 Unrealized —

LII LENNOX INTL INC 0.0%

Value ($000) $474 Shares 977 Est. Cost $319.86 Unrealized +56.2%

UGI UGI CORP NEW 0.0%

Value ($000) $325 Shares 8,681 Est. Cost $32.71 Unrealized +8.3%

GD GENERAL DYNAMICS CORP 0.0%

Value ($000) $2,457 Shares 7,297 Est. Cost $129.10 Unrealized +164.0%

NVT NVENT ELECTRIC PLC 0.0%

Value ($000) $1,074 Shares 10,537 Est. Cost $67.10 Unrealized +54.4%

IAU ISHARES GOLD TR 0.0%

Value ($000) $253 Shares 3,121 Est. Cost $55.65 Unrealized —

SBUX STARBUCKS CORP 0.0%

Value ($000) $2,158 Shares 25,625 Est. Cost $78.49 Unrealized +7.1%

DCI DONALDSON INC 0.0%

Value ($000) $284 Shares 3,200 Est. Cost $62.71 Unrealized +37.8%

ARMK ARAMARK 0.0%

Value ($000) $460 Shares 12,485 Est. Cost $29.11 Unrealized +30.3%

RPM RPM INTL INC 0.0%

Value ($000) $137 Shares 1,315 Est. Cost $82.80 Unrealized +30.7%

EVR EVERCORE INC 0.0%

Value ($000) $1,395 Shares 4,101 Est. Cost $132.27 Unrealized +142.6%

TAC TRANSALTA CORP 0.0%

Value ($000) $196 Shares 15,474 Est. Cost $11.41 Unrealized +30.8%

TRMB TRIMBLE INC 0.0%

Value ($000) $353 Shares 4,503 Est. Cost $56.69 Unrealized +40.6%

D DOMINION ENERGY INC 0.0%

Value ($000) $271 Shares 4,622 Est. Cost $53.50 Unrealized +11.7%

WMB WILLIAMS COS INC 0.0%

Value ($000) $193 Shares 3,215 Est. Cost $28.09 Unrealized +113.8%

CNI CANADIAN NATL RY CO 0.0%

Value ($000) $176 Shares 1,780 Est. Cost $115.14 Unrealized -16.5%

EGP EASTGROUP PPTYS INC 0.0%

Value ($000) $149 Shares 838 Est. Cost $176.58 Unrealized —

RS RELIANCE INC 0.0%

Value ($000) $231 Shares 799 Est. Cost $302.55 Unrealized -7.1%

AWK AMERICAN WTR WKS CO INC NEW 0.0%

Value ($000) $60 Shares 458 Est. Cost $133.42 Unrealized -0.2%

BSM BLACK STONE MINERALS L P 0.0%

Value ($000) $296 Shares 22,260 Est. Cost $14.71 Unrealized —

ASPSW ALTISOURCE PORTFOLIO SOLUTIO 0.0%

Value ($000) $1 Shares 2,834 Est. Cost $0.70 Unrealized —

ASPSZ ALTISOURCE PORTFOLIO SOLUTIO 0.0%

Value ($000) $1 Shares 2,834 Est. Cost $0.58 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EXPD	EXPEDITORS INTL WASH INC	6,312,305	$940,597	1.7%	$95.91	+41.4%	COM	302130109
ELV	ELEVANCE HEALTH INC FORMERLY	4,022,874	$1,410,219	2.5%	$288.83	+16.6%	COM	036752103
SLB	SLB LIMITED	27,718,458	$1,063,834	1.9%	$43.68	-17.4%	COM STK	806857108
NOV	NOV INC	37,597,874	$587,655	1.0%	$14.98	-0.9%	COM	62955J103
WTW	WILLIS TOWERS WATSON PLC LTD	4,250,802	$1,396,814	2.5%	$172.60	+89.2%	SHS	G96629103
ABEV	AMBEV SA	336,057,984	$830,063	1.5%	$2.55	—	SPONSORED ADR	02319V103
XOM	EXXON MOBIL CORP	7,753,826	$933,095	1.6%	$51.44	+124.5%	COM	30231G102
ADI	ANALOG DEVICES INC	2,025,829	$549,405	1.0%	$76.23	+228.8%	COM	032654105
CMCSA	COMCAST CORP NEW	36,171,945	$1,081,179	1.9%	$28.39	+0.5%	CL A	20030N101
USB	US BANCORP DEL	8,818,344	$470,547	0.8%	$23.93	+103.6%	COM NEW	902973304
NTR	NUTRIEN LTD	13,307,283	$821,326	1.4%	$43.85	+34.2%	COM	67077M108
TXN	TEXAS INSTRS INC	3,649,310	$633,119	1.1%	$83.07	+105.5%	COM	882508104
IPGP	IPG PHOTONICS CORP	4,487,103	$321,277	0.6%	$129.57	-37.0%	COM	44980X109
FNF	FIDELITY NATIONAL FINANCIAL	6,102,523	$333,137	0.6%	$33.80	+62.0%	COM SHS	31620R303
FMX	FOMENTO ECONOMICO MEXICANO S	12,507,215	$1,264,104	2.2%	$70.23	—	SPON ADR UNITS	344419106
PPG	PPG INDS INC	6,290,622	$644,537	1.1%	$111.51	-10.2%	COM	693506107
EQR	EQUITY RESIDENTIAL	9,242,013	$582,617	1.0%	$52.98	+14.5%	SH BEN INT	29476L107
MDT	MEDTRONIC PLC	9,775,234	$939,009	1.7%	$73.94	+31.4%	SHS	G5960L103
CCU	COMPANIA CERVECERIAS UNIDAS	15,915,910	$203,087	0.4%	$18.88	—	SPONSORED ADR	204429104
THRY	THRYV HLDGS INC	842,943	$5,100	0.0%	$14.05	-43.6%	COM NEW	886029206
CL	COLGATE PALMOLIVE CO	7,918,979	$625,758	1.1%	$53.52	+46.3%	COM	194162103
BKD	BROOKDALE SR LIVING INC	1,955,530	$21,100	0.0%	$5.40	+82.0%	COM	112463104
KOF	COCA-COLA FEMSA SAB DE CV	371,596	$35,194	0.1%	$62.14	—	SPONS ADS REP	191241108
HD	HOME DEPOT INC	48,672	$16,748	0.0%	$249.77	+46.0%	COM	437076102
BZH	BEAZER HOMES USA INC	701,437	$14,218	0.0%	$25.01	-11.0%	COM NEW	07556Q881
OMC	OMNICOM GROUP INC	6,352,034	$512,927	0.9%	$74.34	+1.9%	COM	681919106
LPG	DORIAN LPG LTD	385,825	$9,391	0.0%	$24.54	+6.8%	SHS USD	Y2106R110
ASPS	ALTISOURCE PORTFOLIO SOLUTIO	435,686	$3,028	0.0%	$7.30	+29.8%	SHS NEW	L0175J138
MEC	MAYVILLE ENGR CO INC	358,075	$6,703	0.0%	$15.62	+4.4%	COM	578605107
LNC	LINCOLN NATL CORP IND	409,936	$18,254	0.0%	$23.85	+72.6%	COM	534187109
OIS	OIL STS INTL INC	2,581,674	$17,478	0.0%	$5.62	+14.2%	COM	678026105
TMHC	TAYLOR MORRISON HOME CORP	232,134	$13,666	0.0%	$59.76	+2.3%	COM	87724P106
MTW	MANITOWOC CO INC	828,369	$9,932	0.0%	$9.99	+13.9%	COM NEW	563571405
HCSG	HEALTHCARE SVCS GROUP INC	561,035	$10,727	0.0%	$11.52	+56.2%	COM	421906108
TITN	TITAN MACHY INC	748,563	$11,258	0.0%	$19.99	-19.5%	COM	88830R101
NVGS	NAVIGATOR HLDGS LTD	695,619	$12,048	0.0%	$12.35	+35.0%	SHS	Y62132108
WSR	WHITESTONE REIT	713,049	$9,904	0.0%	$10.69	—	COM	966084204
STNG	SCORPIO TANKERS INC	214,068	$10,881	0.0%	$64.28	—	SHS	Y7542C130
TRS	TRIMAS CORP	294,706	$10,447	0.0%	$25.59	+36.4%	COM NEW	896215209
VLY	VALLEY NATL BANCORP	883,000	$10,313	0.0%	$8.61	+28.8%	COM	919794107
ORI	OLD REP INTL CORP	280,662	$12,809	0.0%	$21.45	+90.4%	COM	680223104
AXS	AXIS CAP HLDGS LTD	79,249	$8,487	0.0%	$62.85	+58.1%	SHS	G0692U109
DOUG	DOUGLAS ELLIMAN INC	1,615,871	$3,830	0.0%	$1.90	+35.4%	COM	25961D105
NCMI	NATIONAL CINEMEDIA INC	1,255,322	$4,883	0.0%	$4.50	-8.0%	COM NEW	635309206
COHU	COHU INC	247,646	$5,763	0.0%	$17.43	+31.5%	COM	192576106
IBP	INSTALLED BLDG PRODS INC	60,988	$15,820	0.0%	$159.21	+62.2%	COM	45780R101
CAE	CAE INC	935,036	$28,436	0.1%	$21.09	+33.0%	COM	124765108
CHEF	CHEFS WHSE INC	162,873	$10,152	0.0%	$31.77	+89.3%	COM	163086101
UNH	UNITEDHEALTH GROUP INC	39,068	$12,897	0.0%	$442.00	-23.7%	COM	91324P102
NMIH	NMI HLDGS INC	273,259	$11,146	0.0%	$25.93	+45.7%	COM	629209305
TRN	TRINITY INDS INC	396,147	$10,474	0.0%	$22.69	+18.3%	COM	896522109
LINC	LINCOLN EDL SVCS CORP	778,630	$18,804	0.0%	$9.14	+138.4%	COM	533535100
JBTM	JBT MAREL CORPORATION	63,623	$9,586	0.0%	$103.34	+36.4%	COM	477839104
DIS	DISNEY WALT CO	3,443,391	$391,755	0.7%	$83.44	+31.3%	COM	254687106
IDA	IDACORP INC	91,312	$11,556	0.0%	$104.29	+24.7%	COM	451107106
CTOS	CUSTOM TRUCK ONE SOURCE INC	777,936	$4,481	0.0%	$4.82	+26.6%	COM CL A	23204X103
DNOW	DNOW INC	232,530	$3,081	0.0%	$10.87	+29.2%	COM	67011P100
POWW	OUTDOOR HOLDING CO	1,901,370	$3,251	0.0%	$2.15	-19.9%	COM	00175J107
MTN	VAIL RESORTS INC	23,769	$3,157	0.0%	$148.56	-0.9%	COM	91879Q109
MTG	MGIC INVT CORP WIS	412,253	$12,046	0.0%	$18.05	+55.6%	COM	552848103
NE	NOBLE CORP PLC	12,195,825	$344,410	0.6%	$34.38	-15.0%	ORD SHS A	G65431127
DCO	DUCOMMUN INC DEL	181,324	$17,249	0.0%	$49.93	+86.5%	COM	264147109
KVHI	KVH INDS INC	210,826	$1,469	0.0%	$5.47	+10.5%	COM	482738101
CIA	CITIZENS INC	587,750	$2,839	0.0%	$3.06	+80.0%	CL A	174740100
JOUT	JOHNSON OUTDOORS INC	138,888	$5,896	0.0%	$30.76	+34.6%	CL A	479167108
MC	MOELIS & CO	79,301	$5,451	0.0%	$39.48	+66.6%	CL A	60786M105
ACCO	ACCO BRANDS CORP	862,369	$3,217	0.0%	$4.59	-20.2%	COM	00081T108
DAL	DELTA AIR LINES INC DEL	12,694	$881	0.0%	$42.45	+47.1%	COM NEW	247361702
CRNT	CERAGON NETWORKS LTD	592,690	$1,245	0.0%	$2.02	+10.2%	ORD	M22013102
PFGC	PERFORMANCE FOOD GROUP CO	8,400	$755	0.0%	$62.97	+53.3%	COM	71377A103
PEP	PEPSICO INC	44,480	$6,384	0.0%	$126.65	+15.2%	COM	713448108
RDN	RADIAN GROUP INC	255,688	$9,202	0.0%	$23.91	+45.4%	COM	750236101
GXO	GXO LOGISTICS INCORPORATED	127,746	$6,725	0.0%	$52.95	-0.8%	COMMON STOCK	36262G101
FEOE	RBB FUND TRUST	27,780	$1,343	0.0%	$37.60	—	FIRST EAGLE OVER	75526L878
DCOM	DIME CMNTY BANCSHARES INC	261,852	$7,879	0.0%	$19.45	+47.1%	COM	25432X102
ACN	ACCENTURE PLC IRELAND	2,559	$687	0.0%	$224.74	+13.0%	SHS CLASS A	G1151C101
FLEX	FLEX LTD	19,512	$1,179	0.0%	$28.02	+120.5%	ORD	Y2573F102
FEGE	RBB FUND TRUST	27,635	$1,272	0.0%	$36.49	—	FIRST EAGLE GBL	75526L886
LII	LENNOX INTL INC	977	$474	0.0%	$319.86	+56.2%	COM	526107107
UGI	UGI CORP NEW	8,681	$325	0.0%	$32.71	+8.3%	COM	902681105
GD	GENERAL DYNAMICS CORP	7,297	$2,457	0.0%	$129.10	+164.0%	COM	369550108
NVT	NVENT ELECTRIC PLC	10,537	$1,074	0.0%	$67.10	+54.4%	SHS	G6700G107
IAU	ISHARES GOLD TR	3,121	$253	0.0%	$55.65	—	ISHARES NEW	464285204
SBUX	STARBUCKS CORP	25,625	$2,158	0.0%	$78.49	+7.1%	COM	855244109
DCI	DONALDSON INC	3,200	$284	0.0%	$62.71	+37.8%	COM	257651109
ARMK	ARAMARK	12,485	$460	0.0%	$29.11	+30.3%	COM	03852U106
RPM	RPM INTL INC	1,315	$137	0.0%	$82.80	+30.7%	COM	749685103
EVR	EVERCORE INC	4,101	$1,395	0.0%	$132.27	+142.6%	CLASS A	29977A105
TAC	TRANSALTA CORP	15,474	$196	0.0%	$11.41	+30.8%	COM	89346D107
TRMB	TRIMBLE INC	4,503	$353	0.0%	$56.69	+40.6%	COM	896239100
D	DOMINION ENERGY INC	4,622	$271	0.0%	$53.50	+11.7%	COM	25746U109
WMB	WILLIAMS COS INC	3,215	$193	0.0%	$28.09	+113.8%	COM	969457100
CNI	CANADIAN NATL RY CO	1,780	$176	0.0%	$115.14	-16.5%	COM	136375102
EGP	EASTGROUP PPTYS INC	838	$149	0.0%	$176.58	—	COM	277276101
RS	RELIANCE INC	799	$231	0.0%	$302.55	-7.1%	COM	759509102
AWK	AMERICAN WTR WKS CO INC NEW	458	$60	0.0%	$133.42	-0.2%	COM	030420103
BSM	BLACK STONE MINERALS L P	22,260	$296	0.0%	$14.71	—	COM UNIT	09225M101
ASPSW	ALTISOURCE PORTFOLIO SOLUTIO	2,834	$1	0.0%	$0.70	—	*W EXP 04/30/203	L0175J112
ASPSZ	ALTISOURCE PORTFOLIO SOLUTIO	2,834	$1	0.0%	$0.58	—	*W EXP 04/02/202	L0175J120