Location: McLean, VA
CIK: 0001599170 · Show all filings
Period: Q3 2025 (← Previous) (Next →)
Filing Date: Nov 14, 2025
Total Value: $937M (100.0% shares, 0.0% debt)
| Ticker | Issuer | Shares | Value | % | Est. Cost | Unrealized | Class | CUSIP |
|---|---|---|---|---|---|---|---|---|
| HTB | HOMETRUST BANCSHARES INC | 1,680,469 | $68.8M | 7.3% | $25.96 | +54.2% | COM | 437872104 |
| SSB | SOUTHSTATE BK CORP | 527,942 | $52.2M | 5.6% | $96.71 | 0.0% | COM | 84472E102 |
| EQBK | EQUITY BANCSHARES INC | 1,222,791 | $49.77M | 5.3% | $32.25 | +24.5% | COM CL A | 29460X109 |
| WBS | WEBSTER FINL CORP | 624,464 | $37.12M | 4.0% | $54.78 | +8.8% | COM | 947890109 |
| SBCF | SEACOAST BKG CORP FLA | 1,209,996 | $36.82M | 3.9% | $25.77 | +15.0% | COM NEW | 811707801 |
| SFST | SOUTHERN FIRST BANCSHARES | 807,223 | $35.61M | 3.8% | $36.36 | +17.5% | COM | 842873101 |
| OSBC | OLD SECOND BANCORP INC ILL | 1,919,934 | $33.19M | 3.5% | $11.90 | +50.1% | COM | 680277100 |
| RBB | RBB BANCORP | 1,511,408 | $28.35M | 3.0% | $21.76 | -12.1% | COM | 74930B105 |
| INDB | INDEPENDENT BK CORP MASS | 378,739 | $26.2M | 2.8% | $62.60 | +6.9% | COM | 453836108 |
| MOFG | MIDWESTONE FINL GROUP INC NE | 796,883 | $22.54M | 2.4% | $28.46 | +2.5% | COM | 598511103 |
| LNKB | LINKBANCORP INC | 2,999,772 | $21.39M | 2.3% | $6.43 | +11.0% | COM | 53578P105 |
| BCAL | CALIFORNIA BANCORP | 1,271,636 | $21.21M | 2.3% | $15.14 | +7.9% | COM | 84252A106 |
| WSBC | WESBANCO INC | 654,296 | $20.89M | 2.2% | $31.81 | +0.2% | COM | 950810101 |
| EBC | EASTERN BANKSHARES INC | 976,342 | $17.72M | 1.9% | $16.30 | 0.0% | COM | 27627N105 |
| ONB | OLD NATL BANCORP IND | 777,226 | $17.06M | 1.8% | $20.78 | +6.4% | COM | 680033107 |
| IBCP | INDEPENDENT BK CORP MICH | 550,194 | $17.04M | 1.8% | $15.30 | +106.9% | COM NEW | 453838609 |
| USB | U S BANCORP DEL | 347,926 | $16.82M | 1.8% | $45.38 | +2.1% | COM NEW | 902973304 |
| QCRH | QCR HOLDINGS INC | 220,147 | $16.65M | 1.8% | $52.78 | +42.4% | COM | 74727A104 |
| SMBC | SOUTHERN MO BANCORP INC | 300,944 | $15.82M | 1.7% | $35.34 | +56.0% | COM | 843380106 |
| WAL | WESTERN ALLIANCE BANCORP | 175,389 | $15.21M | 1.6% | $76.91 | +8.9% | COM | 957638109 |
| ZION | ZIONS BANCORPORATION N A | 268,111 | $15.17M | 1.6% | $53.63 | +3.8% | COM | 989701107 |
| THG | HANOVER INS GROUP INC | 65,817 | $11.95M | 1.3% | $165.64 | +2.6% | COM | 410867105 |
| FFWM | FIRST FNDTN INC | 2,057,660 | $11.46M | 1.2% | $5.25 | +5.1% | COM | 32026V104 |
| BAC | BANK AMERICA CORP | 216,409 | $11.16M | 1.2% | $48.34 | 0.0% | COM | 060505104 |
| FRME | FIRST MERCHANTS CORP | 294,718 | $11.11M | 1.2% | $39.26 | 0.0% | COM | 320817109 |
| PB | PROSPERITY BANCSHARES INC | 144,985 | $9.62M | 1.0% | $67.67 | 0.0% | COM | 743606105 |
| CBNA | CHAIN BRIDGE BANCORP INC | 293,788 | $9.616M | 1.0% | $23.85 | +19.7% | CL A | 15746L100 |
| MBIN | MERCHANTS BANCORP IND | 297,156 | $9.45M | 1.0% | $37.76 | -13.5% | COM | 58844R108 |
| JMSB | JOHN MARSHALL BANCORP INC | 429,908 | $8.521M | 0.9% | $18.70 | +4.5% | COM | 47805L101 |
| BUSE | FIRST BUSEY CORP | 366,020 | $8.473M | 0.9% | $22.15 | +5.1% | COM NEW | 319383204 |
| STT | STATE STR CORP | 68,000 | $7.889M | 0.8% | $110.08 | 0.0% | COM | 857477103 |
| MHO | M/I HOMES INC | 53,553 | $7.735M | 0.8% | $135.28 | 0.0% | COM | 55305B101 |
| TOWN | TOWNEBANK PORTSMOUTH VA | 222,459 | $7.69M | 0.8% | $33.36 | +7.4% | COM | 89214P109 |
| FAF | FIRST AMERICAN FINL CORP | 118,691 | $7.625M | 0.8% | $62.08 | 0.0% | COM | 31847R102 |
| JLL | JONES LANG LASALLE INC | 25,312 | $7.55M | 0.8% | $202.97 | +40.7% | COM | 48020Q107 |
| AVBC | AVIDIA BANCORP INC | 497,258 | $7.429M | 0.8% | $15.09 | 0.0% | COMMON STOCK | 05369T100 |
| SCHW | CHARLES SCHWAB CORP | 76,650 | $7.318M | 0.8% | $94.54 | 0.0% | COM | 808513105 |
| MCY | MERCURY GENL CORP NEW | 83,592 | $7.087M | 0.8% | $67.27 | +9.7% | COM | 589400100 |
| CINF | CINCINNATI FINL CORP | 44,671 | $7.062M | 0.8% | $144.97 | +3.6% | COM | 172062101 |
| AMT | AMERICAN TOWER CORP NEW | 3,507 | $6.745M | 0.7% | $197.02 | +3.8% | COM | 03027X100 |
| PFSI | PENNYMAC FINL SVCS INC NEW | 51,559 | $6.387M | 0.7% | $107.45 | 0.0% | COM | 70932M107 |
| TMHC | TAYLOR MORRISON HOME CORP | 89,887 | $5.933M | 0.6% | $59.15 | +11.3% | COM | 87724P106 |
| HWBK | HAWTHORN BANCSHARES INC | 190,710 | $5.92M | 0.6% | $22.02 | +38.1% | COM | 420476103 |
| HCI | HCI GROUP INC | 29,567 | $5.675M | 0.6% | $132.21 | +19.8% | COM | 40416E103 |
| WD | WALKER & DUNLOP INC | 62,168 | $5.198M | 0.6% | $79.32 | 0.0% | COM | 93148P102 |
| WELL | WELLTOWER INC | 28,845 | $5.138M | 0.5% | $103.96 | +57.2% | COM | 95040Q104 |
| BRO | BROWN & BROWN INC | 47,837 | $4.487M | 0.5% | $108.24 | -10.2% | COM | 115236101 |
| GABC | GERMAN AMERN BANCORP INC | 112,580 | $4.421M | 0.5% | $39.43 | +0.4% | COM | 373865104 |
| RGA | REINSURANCE GRP OF AMERICA I | 22,466 | $4.316M | 0.5% | $185.48 | +3.2% | COM NEW | 759351604 |
| HBNC | HORIZON BANCORP INC | 264,651 | $4.237M | 0.5% | $16.02 | 0.0% | COM | 440407104 |
| AKR | ACADIA RLTY TR | 205,209 | $4.135M | 0.4% | $19.51 | — | COM SH BEN INT | 004239109 |
| TOL | TOLL BROTHERS INC | 29,258 | $4.042M | 0.4% | $130.53 | 0.0% | COM | 889478103 |
| ICE | INTERCONTINENTAL EXCHANGE IN | 23,146 | $3.9M | 0.4% | $177.73 | 0.0% | COM | 45866F104 |
| HTGC | HERCULES CAPITAL INC | 203,991 | $3.857M | 0.4% | $19.05 | +0.6% | COM | 427096508 |
| NLY | ANNALY CAPITAL MANAGEMENT IN | 185,233 | $3.744M | 0.4% | $19.81 | — | COM NEW | 035710839 |
| GL | GLOBE LIFE INC | 25,828 | $3.693M | 0.4% | $128.03 | +5.6% | COM | 37959E102 |
| IVT | INVENTRUST PPTYS CORP | 124,373 | $3.56M | 0.4% | $28.62 | — | COM NEW | 46124J201 |
| RDN | RADIAN GROUP INC | 98,159 | $3.555M | 0.4% | $34.42 | 0.0% | COM | 750236101 |
| — | LXP INDUSTRIAL TRUST | 394,529 | $3.535M | 0.4% | $8.96 | — | COM | 529043101 |
| ABR | ARBOR REALTY TRUST INC | 268,673 | $3.28M | 0.4% | $12.21 | — | COM | 038923108 |
| AHR | AMERICAN HEALTHCARE REIT | 77,881 | $3.272M | 0.3% | $29.33 | — | COM SHS | 398182303 |
| VOYA | VOYA FINANCIAL INC | 43,507 | $3.254M | 0.3% | $71.68 | +1.8% | COM | 929089100 |
| C | CITIGROUP INC | 31,975 | $3.245M | 0.3% | $94.11 | 0.0% | COM NEW | 172967424 |
| MRX | MAREX GROUP PLC | 95,683 | $3.217M | 0.3% | $39.35 | -8.9% | ORD | G5S37H101 |
| UMBF | UMB FINL CORP | 26,549 | $3.142M | 0.3% | $115.25 | 0.0% | COM | 902788108 |
| ARI | APOLLO COML REAL EST FIN INC | 299,904 | $3.038M | 0.3% | $9.88 | — | COM | 03762U105 |
| SF | STIFEL FINL CORP | 25,978 | $2.948M | 0.3% | $111.58 | 0.0% | COM | 860630102 |
| FVCB | FVCBANKCORP INC | 221,956 | $2.879M | 0.3% | $12.01 | +8.3% | COM | 36120Q101 |
| FSFG | FIRST SVGS FINL GROUP INC | 91,479 | $2.875M | 0.3% | $16.95 | +57.0% | COM | 33621E109 |
| RYAN | RYAN SPECIALTY HOLDINGS INC | 47,822 | $2.695M | 0.3% | $59.24 | 0.0% | CL A | 78351F107 |
| HLI | HOULIHAN LOKEY INC | 11,860 | $2.435M | 0.3% | $166.54 | +17.1% | CL A | 441593100 |
| MAA | MID-AMER APT CMNTYS INC | 15,874 | $2.218M | 0.2% | $152.37 | -6.4% | COM | 59522J103 |
| SLM | SLM CORP | 79,309 | $2.195M | 0.2% | $31.21 | 0.0% | COM | 78442P106 |
| BFC | BANK FIRST CORP | 17,662 | $2.143M | 0.2% | $123.55 | 0.0% | COM | 06211J100 |
| NIC | NICOLET BANKSHARES INC | 15,753 | $2.119M | 0.2% | $132.17 | 0.0% | COM | 65406E102 |
| TSLX | SIXTH STREET SPECIALTY LENDING | 91,827 | $2.099M | 0.2% | $24.05 | 0.0% | COM | 83012A109 |
| CNO | CNO FINL GROUP INC | 52,008 | $2.057M | 0.2% | $37.91 | 0.0% | COM | 12621E103 |
| ADC | AGREE RLTY | 27,707 | $1.968M | 0.2% | $73.94 | — | COM | 008492100 |
| FR | FIRST INDL RLTY TR INC | 33,615 | $1.73M | 0.2% | $51.47 | — | COM | 32054K103 |
| RPC | P10 INC | 155,835 | $1.695M | 0.2% | $11.62 | +2.3% | COM CL A | 69376K106 |
| PECO | PHILLIPS EDISON & CO INC | 47,768 | $1.64M | 0.2% | $34.34 | — | COMMON STOCK | 71844V201 |
| O | REALTY INCOME CORP | 26,865 | $1.633M | 0.2% | $56.92 | 0.0% | COM | 756109104 |
| NMRK | NEWMARK GROUP INC | 83,379 | $1.555M | 0.2% | $16.19 | 0.0% | CL A | 65158N102 |
| AON | AON PLC | 4,176 | $1.489M | 0.2% | $361.49 | 0.0% | SHS CL A | G0403H108 |
| CME | CME GROUP INC | 5,393 | $1.457M | 0.2% | $268.48 | +0.5% | COM | 12572Q105 |
| JHG | JANUS HENDERSON GROUP PLC | 32,041 | $1.426M | 0.2% | $39.28 | +10.0% | ORD SHS | G4474Y214 |
| EXR | EXTRA SPACE STORAGE INC | 9,758 | $1.375M | 0.1% | $140.76 | -0.1% | COM | 30225T102 |
| ARES | ARES MANAGEMENT CORPORATION | 8,293 | $1.326M | 0.1% | $159.10 | +12.1% | CL A COM STK | 03990B101 |
| V | VISA INC | 3,625 | $1.238M | 0.1% | $335.00 | +3.0% | COM CL A | 92826C839 |
| WPC | WP CAREY INC | 18,255 | $1.233M | 0.1% | $66.58 | — | COM | 92936U109 |
| SPNT | SIRIUSPOINT LTD | 67,270 | $1.217M | 0.1% | $18.71 | 0.0% | COM | G8192H106 |
| SKWD | SKYWARD SPECIALTY INS GROUP | 25,467 | $1.211M | 0.1% | $44.51 | +12.4% | COM | 830940102 |
| HOMB | HOME BANCSHARES INC | 42,191 | $1.194M | 0.1% | $29.04 | 0.0% | COM | 436893200 |
| EQR | EQUITY RESIDENTIAL | 17,935 | $1.161M | 0.1% | $64.02 | 0.0% | SH CL A | 29476L107 |
| — | ANYWHERE REAL ESTATE INC | 107,971 | $1.143M | 0.1% | $10.59 | — | COM | 75605Y106 |
| EPRT | ESSENTIAL PPTYS RLTY TR INC | 37,997 | $1.131M | 0.1% | $30.19 | — | COM | 29670E107 |
| SYF | SYNCHRONY FINANCIAL | 15,870 | $1.128M | 0.1% | $56.04 | +28.6% | COM | 87165B103 |
| APAM | ARTISAN PARTNERS ASSET MGMT | 25,129 | $1.091M | 0.1% | $38.79 | +11.4% | CL A | 04316A108 |
| MA | MASTERCARD INCORPORATED | 1,894 | $1.077M | 0.1% | $573.47 | 0.0% | CL A | 57636Q104 |
| UCB | UNITED CMNTY BKS BLAIRSVLE G | 33,214 | $1.041M | 0.1% | $31.28 | +1.1% | COM | 90984P303 |
| PLD | PROLOGIS INC. | 8,693 | $996K | 0.1% | $108.29 | 0.0% | COM | 74340W103 |
| CUZ | COUSINS PPTYS INC | 34,262 | $992K | 0.1% | $29.69 | — | COM NEW | 222795502 |
| MRP | MILLROSE PPTYS INC | 29,395 | $988K | 0.1% | $28.51 | — | COM CL A | 601137102 |
| SLF | SUN LIFE FINANCIAL INC. | 16,324 | $980K | 0.1% | $60.14 | 0.0% | COM | 866796105 |
| HRTG | HERITAGE INSURANCE HLDGS INC | 37,745 | $950K | 0.1% | $22.71 | 0.0% | COM | 42727J102 |
| ACIW | ACI WORLDWIDE | 15,304 | $808K | 0.1% | $48.42 | -2.4% | COM | 004498101 |
| HQY | HEALTHEQUITY INC | 8,376 | $794K | 0.1% | $94.11 | 0.0% | COM | 42226A107 |
| BEN | FRANKLIN RESOURCES INC | 31,236 | $722K | 0.1% | $21.82 | +10.2% | COM | 354613101 |
| CG | CARLYLE GROUP INC | 10,696 | $671K | 0.1% | $54.34 | +13.1% | COM | 14316J108 |
| CUBE | CUBESMART | 15,225 | $619K | 0.1% | $40.66 | — | COM | 229663109 |
| GCMG | GCM GROSVENOR INC | 50,728 | $612K | 0.1% | $12.19 | 0.0% | COM CL A | 36831E108 |
| AMG | AFFILIATED MANAGERS GROUP IN | 2,557 | $610K | 0.1% | $220.39 | 0.0% | COM | 008252108 |
| KINS | KINGSTONE COS INC | 41,329 | $608K | 0.1% | $14.55 | 0.0% | COM | 496719105 |
| CURB | CURBLINE PPTYS CORP | 27,065 | $604K | 0.1% | $22.30 | — | COM | 23128Q101 |
| TPG | TPG INC | 10,044 | $577K | 0.1% | $59.03 | 0.0% | COM CL A | 872657101 |
| BHF | BRIGHTHOUSE FINL INC | 10,158 | $539K | 0.1% | $56.21 | -13.2% | COM | 10922N103 |
| ELME | ELME COMMUNITIES | 30,502 | $514K | 0.1% | $16.86 | — | SH BEN INT | 939653101 |
| NNN | NNN REIT INC | 11,568 | $492K | 0.1% | $42.57 | — | COM | 637417106 |
| HUM | HUMANA INC | 1,716 | $446K | 0.0% | $261.21 | 0.0% | COM | 444859102 |
| AJG | GALLAGHER ARTHUR J & CO | 1,371 | $425K | 0.0% | $300.20 | 0.0% | COM | 363576109 |
| FIS | FIDELITY NATL INFORMATION SV | 5,609 | $370K | 0.0% | $73.18 | -1.4% | COM | 31620M106 |
| UHT | UNIVERSAL HEALTH RLTY INCOME | 9,409 | $369K | 0.0% | $39.87 | — | SH BEN INT | 91359E105 |
| DAVE | DAVE INC | 1,820 | $363K | 0.0% | $182.42 | +18.4% | CLASS A COM NEW | 23834J201 |
| HFBL | HOME FED BANCORP INC LA NEW | 24,866 | $342K | 0.0% | $12.28 | +9.8% | COM | 43708L108 |
| — | PARAMOUNT GROUP INC | 46,975 | $307K | 0.0% | $6.54 | — | COM | 69924R108 |
| JXN | JACKSON FINANCIAL INC | 2,946 | $298K | 0.0% | $92.07 | 0.0% | COM CL A | 46817M107 |
| BNL | BROADSTONE NET LEASE INC | 14,817 | $265K | 0.0% | $17.09 | — | COM | 11135E203 |
| FOUR | SHIFT4 PMTS INC | 3,409 | $264K | 0.0% | $92.96 | 0.0% | CL A | 82452J109 |
| PK | PARK HOTELS & RESORTS INC | 23,519 | $261K | 0.0% | $11.08 | — | COM | 700517105 |
| ACIC | AMERICAN COASTAL INS CORP | 22,756 | $259K | 0.0% | $10.24 | 0.0% | COM | 910710102 |
| BRX | BRIXMOR PPTY GROUP INC | 9,164 | $254K | 0.0% | $27.68 | — | COM | 11120U105 |
| FHI | FEDERATED HERMES INC | 4,879 | $253K | 0.0% | $49.91 | 0.0% | CL B | 314211103 |
| AII | AMERICAN INTEGRITY INSURANCE GROUP | 11,273 | $252K | 0.0% | $18.96 | 0.0% | COM | 026948109 |
| GEN | GEN DIGITAL INC | 8,661 | $246K | 0.0% | $29.71 | 0.0% | COM | 668771108 |
| KRC | KILROY RLTY CORP | 5,499 | $232K | 0.0% | $42.25 | — | COM | 49427F108 |
| ADP | AUTOMATIC DATA PROCESSING IN | 787 | $231K | 0.0% | $297.80 | 0.0% | COM | 053015103 |
| UNH | UNITEDHEALTH GROUP INC | 643 | $222K | 0.0% | $374.94 | -20.3% | COM | 91324P102 |
| HLNE | HAMILTON LANE INC | 1,612 | $217K | 0.0% | $150.85 | 0.0% | CL A | 407497106 |
| GPN | GLOBAL PMTS INC | 2,353 | $195K | 0.0% | $83.75 | 0.0% | COM | 37940X102 |
| QNST | QUINSTREET INC | 8,720 | $135K | 0.0% | $15.88 | 0.0% | COM | 74874Q100 |
| SHO | SUNSTONE HOTEL INVS INC NEW | 13,116 | $123K | 0.0% | $9.37 | — | COM | 867892101 |
| BDN | BRANDYWINE RLTY TR | 27,281 | $114K | 0.0% | $4.17 | — | SH BEN INT NEW | 105368203 |