Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WFC	WELLS FARGO & CO	1,311,804	$104M	3.2%	—	—	COM	949746101
STT	STATE STR CORP	679,195	$85.96M	2.6%	—	—	COM	857477103
MCO	MOODYS CORP	186,187	$81.22M	2.5%	—	—	COM	615369105
LPLA	LPL FINL HLDGS INC	247,123	$74.34M	2.3%	—	—	COM	50212V100
NTRS	NORTHERN TR CORP	358,117	$49.98M	1.5%	—	—	COM	665859104
WTW	WILLIS TOWERS WATSON PLC LTD	122,661	$35.66M	1.1%	—	—	SHS	G96629103
COF	CAPITAL ONE FINL CORP	186,027	$33.94M	1.0%	—	—	COM	14040H105
CG	CARLYLE GROUP INC	650,586	$31.48M	1.0%	—	—	COM	14316J108
AMH	AMERICAN HOMES 4 RENT	1,053,597	$29.42M	0.9%	—	—	CL A	02665T306
AIZ	ASSURANT INC	117,528	$25.6M	0.8%	—	—	COM	04621X108
JKHY	HENRY JACK & ASSOC INC	143,659	$22.7M	0.7%	—	—	COM	426281101
FCNCA	FIRST CTZNS BANCSHARES INC D	11,443	$21.57M	0.7%	—	—	CL A	31946M103
ACGL	ARCH CAP GROUP LTD	169,465	$16.27M	0.5%	—	—	ORD	G0450A105
COST	COSTCO WHOLESALE CORPORATION	16,174	$16.12M	0.5%	—	—	COM	22160K105
TW	TRADEWEB MKTS INC	114,509	$13.47M	0.4%	—	—	CL A	892672106
SPGI	S&P GLOBAL INC	30,000	$12.76M	0.4%	—	—	PUT	78409V104
PYPL	PAYPAL HLDGS INC	275,218	$12.45M	0.4%	—	—	COM	70450Y103
NVR	NVR INC	1,748	$11.52M	0.4%	—	—	COM	62944T105
ORCL	ORACLE CORP	77,984	$11.47M	0.3%	—	—	COM	68389X105
MC	MOELIS & CO	181,247	$10.33M	0.3%	—	—	CL A	60786M105
VRSK	VERISK ANALYTICS INC	52,630	$9.987M	0.3%	—	—	COM	92345Y106
NTRS	NORTHERN TR CORP	70,000	$9.77M	0.3%	—	—	CALL	665859104
MS	MORGAN STANLEY	57,609	$9.481M	0.3%	—	—	COM NEW	617446448
MKL	MARKEL GROUP INC	4,615	$8.833M	0.3%	—	—	COM	570535104
AXS	AXIS CAP HLDGS LTD	75,009	$7.607M	0.2%	—	—	SHS	G0692U109
MOH	MOLINA HEALTHCARE INC	54,049	$7.205M	0.2%	—	—	COM	60855R100
AFRM	AFFIRM HLDGS INC	144,592	$6.625M	0.2%	—	—	COM CL A	00827B106
WDAY	WORKDAY INC	44,580	$5.792M	0.2%	—	—	CL A	98138H101
LAZ	LAZARD INC	132,030	$5.609M	0.2%	—	—	COM	52110M109
RDN	RADIAN GROUP INC	140,726	$4.655M	0.1%	—	—	COM	750236101
TRU	TRANSUNION	63,224	$4.374M	0.1%	—	—	COM	89400J107
TOST	TOAST INC	158,812	$4.21M	0.1%	—	—	CL A	888787108
RYAN	RYAN SPECIALTY HOLDINGS INC	121,657	$4.105M	0.1%	—	—	CL A	78351F107
DHI	D R HORTON INC	26,555	$3.644M	0.1%	—	—	COM	23331A109
ARES	ARES MANAGEMENT CORPORATION	28,407	$3.099M	0.1%	—	—	CL A COM STK	03990B101
DKS	DICKS SPORTING GOODS INC	13,756	$2.728M	0.1%	—	—	COM	253393102
ROL	ROLLINS INC	50,438	$2.694M	0.1%	—	—	COM	775711104
LNC	LINCOLN NATL CORP IND	73,100	$2.595M	0.1%	—	—	COM	534187109
TRI	THOMSON REUTERS CORP	25,000	$2.249M	0.1%	—	—	CALL	884903808
UNM	UNUM GROUP	22,941	$1.675M	0.1%	—	—	COM	91529Y106
PFSI	PENNYMAC FINL SVCS INC NEW	17,410	$1.522M	0.0%	—	—	COM	70932M107
PHM	PULTE GROUP INC	12,721	$1.496M	0.0%	—	—	COM	745867101
ROST	ROSS STORES INC	5,171	$1.12M	0.0%	—	—	COM	778296103
FHN	FIRST HORIZON CORPORATION	49,186	$1.119M	0.0%	—	—	COM	320517105
KBH	KB HOME	15,353	$795K	0.0%	—	—	COM	48666K109
CRBG	COREBRIDGE FINL INC	27,419	$654K	0.0%	—	—	COM	21871X109
BAM	BROOKFIELD ASSET MANAGMT LTD	11,361	$505K	0.0%	—	—	CL A LMT VTG SHS	113004105
AZO	AUTOZONE INC	89	$301K	0.0%	—	—	COM	053332102
BFH	BREAD FINANCIAL HOLDINGS INC	3,513	$263K	0.0%	—	—	COM	018581108
CNC	CENTENE CORP DEL	7,821	$256K	0.0%	—	—	COM	15135B101
BR	BROADRIDGE FINL SOLUTIONS IN	1,513	$246K	0.0%	—	—	COM	11133T103

Increased Positions (54)

ICE INTERCONTINENTAL EXCHANGE IN 5.4%

Value $176M (+223.2%) Shares 1,121,369 (+232.8%) Est. Cost — Unrealized —

MA MASTERCARD INCORPORATED 5.7%

Value $188M (+98.3%) Shares 375,555 (+126.6%) Est. Cost — Unrealized —

HBAN HUNTINGTON BANCSHARES INC 3.8%

Value $126M (+229.3%) Shares 8,028,262 (+265.1%) Est. Cost — Unrealized —

HD HOME DEPOT INC 3.2%

Value $105M (+207.5%) Shares 317,929 (+221.7%) Est. Cost — Unrealized —

ELV ELEVANCE HEALTH INC FORMERLY 2.0%

Value $67.08M (+1405.5%) Shares 229,145 (+1702.7%) Est. Cost — Unrealized —

ACN ACCENTURE PLC IRELAND 2.1%

Value $68.6M (+278.4%) Shares 345,945 (+411.9%) Est. Cost — Unrealized —

AON AON PLC 3.2%

Value $104M (+89.5%) Shares 323,458 (+107.1%) Est. Cost — Unrealized —

HCA HCA HEALTHCARE INC 1.2%

Value $41.05M (+947.0%) Shares 86,738 (+932.8%) Est. Cost — Unrealized —

TGT TARGET CORP 1.0%

Value $33.33M (+7686.6%) Shares 275,001 (+6180.0%) Est. Cost — Unrealized —

LEN LENNAR CORP 2.2%

Value $73.68M (+65.9%) Shares 848,455 (+96.3%) Est. Cost — Unrealized —

CI THE CIGNA GROUP 1.7%

Value $57.09M (+78.8%) Shares 214,012 (+84.5%) Est. Cost — Unrealized —

BAC BANK AMERICA CORP 5.7%

Value $186M (+14.9%) Shares 3,824,154 (+29.6%) Est. Cost — Unrealized —

RF REGIONS FINANCIAL CORP NEW 1.0%

Value $32.73M (+253.1%) Shares 1,252,885 (+266.3%) Est. Cost — Unrealized —

FISV FISERV INC 1.0%

Value $31.44M (+184.8%) Shares 563,455 (+242.9%) Est. Cost — Unrealized —

RGA REINSURANCE GROUP AMER INC 1.4%

Value $44.6M (+60.5%) Shares 218,452 (+60.0%) Est. Cost — Unrealized —

CTSH COGNIZANT TECHNOLOGY SOLUTIO 0.5%

Value $17.4M (+1854.4%) Shares 283,547 (+2544.0%) Est. Cost — Unrealized —

RJF RAYMOND JAMES FINL INC 1.6%

Value $52.03M (+39.2%) Shares 359,339 (+54.4%) Est. Cost — Unrealized —

BLK BLACKROCK INC 7.1%

Value $234M (-5.9%) Shares 243,110 (+4.7%) Est. Cost — Unrealized —

AMG AFFILIATED MANAGERS GROUP 0.5%

Value $17.01M (+296.5%) Shares 61,489 (+313.1%) Est. Cost — Unrealized —

TFC TRUIST FINL CORP 4.1%

Value $135M (+10.0%) Shares 2,944,468 (+17.8%) Est. Cost — Unrealized —

RKT ROCKET COS INC 0.6%

Value $19.65M (+145.3%) Shares 1,378,728 (+233.3%) Est. Cost — Unrealized —

FIS FIDELITY NATL INFORMATION SV 1.1%

Value $34.89M (+39.7%) Shares 743,864 (+97.9%) Est. Cost — Unrealized —

EPAM EPAM SYS INC 0.3%

Value $10.48M (+613.5%) Shares 77,394 (+979.6%) Est. Cost — Unrealized —

COIN COINBASE GLOBAL INC 0.3%

Value $10.82M (+330.5%) Shares 61,992 (+457.6%) Est. Cost — Unrealized —

KEY KEYCORP 2.4%

Value $78.15M (+11.1%) Shares 3,897,550 (+14.4%) Est. Cost — Unrealized —

EG EVEREST GROUP LTD 0.7%

Value $21.48M (+57.0%) Shares 65,707 (+63.0%) Est. Cost — Unrealized —

SSNC SS&C TECH HLDGS 0.8%

Value $27.35M (-20.4%) Shares 404,814 (+3.0%) Est. Cost — Unrealized —

SPG SIMON PPTY GROUP INC NEW 0.8%

Value $24.81M (+35.6%) Shares 132,995 (+34.5%) Est. Cost — Unrealized —

ALLY ALLY FINL INC 0.2%

Value $6.919M (+700.8%) Shares 176,363 (+824.5%) Est. Cost — Unrealized —

SF STIFEL FINL CORP 1.0%

Value $31.35M (+23.8%) Shares 424,078 (+109.7%) Est. Cost — Unrealized —

WRB BERKLEY W R CORP 0.3%

Value $9.21M (+146.4%) Shares 138,955 (+160.7%) Est. Cost — Unrealized —

PAYX PAYCHEX INC 0.2%

Value $5.632M (+1782.4%) Shares 61,137 (+2192.4%) Est. Cost — Unrealized —

DG DOLLAR GEN CORP 0.2%

Value $5.601M (+1109.4%) Shares 47,172 (+1252.4%) Est. Cost — Unrealized —

VOYA VOYA FINANCIAL INC 0.6%

Value $19.56M (+34.1%) Shares 286,296 (+46.2%) Est. Cost — Unrealized —

JEF JEFFERIES FINANCIAL GROUP IN 0.3%

Value $10.67M (+84.8%) Shares 258,581 (+177.5%) Est. Cost — Unrealized —

MIAX MIAMI INTL HLDGS INC 0.1%

Value $4.801M (+529.4%) Shares 123,353 (+617.7%) Est. Cost — Unrealized —

WCN WASTE CONNECTIONS INC 0.6%

Value $20.9M (+22.7%) Shares 128,674 (+32.4%) Est. Cost — Unrealized —

TPG TPG INC 0.2%

Value $6.226M (+106.0%) Shares 153,700 (+224.7%) Est. Cost — Unrealized —

FAF FIRST AMERN FINL CORP 0.1%

Value $3.743M (+463.0%) Shares 62,075 (+473.8%) Est. Cost — Unrealized —

EVR EVERCORE INC 0.3%

Value $10.26M (+36.8%) Shares 34,376 (+55.9%) Est. Cost — Unrealized —

FOUR SHIFT4 PMTS INC 0.1%

Value $3.1M (+369.0%) Shares 70,899 (+575.4%) Est. Cost — Unrealized —

FICO FAIR ISAAC CORP 0.3%

Value $9.361M (+19.1%) Shares 8,769 (+88.6%) Est. Cost — Unrealized —

ORLY OREILLY AUTOMOTIVE INC 0.0%

Value $1.57M (+421.6%) Shares 17,012 (+415.4%) Est. Cost — Unrealized —

GL GLOBE LIFE INC 0.5%

Value $14.99M (+6.5%) Shares 107,691 (+7.0%) Est. Cost — Unrealized —

CHYM CHIME FINL INC 0.0%

Value $1.213M (+206.2%) Shares 64,759 (+311.5%) Est. Cost — Unrealized —

GPN GLOBAL PMTS INC 0.8%

Value $25.32M (+2.3%) Shares 376,182 (+17.6%) Est. Cost — Unrealized —

CSGP COSTAR GROUP INC 0.6%

Value $20.79M (-2.4%) Shares 515,387 (+62.7%) Est. Cost — Unrealized —

ETOR ETORO GROUP LTD 0.0%

Value $752K (+100.8%) Shares 25,050 (+134.9%) Est. Cost — Unrealized —

BURL BURLINGTON STORES INC 0.0%

Value $725K (+55.9%) Shares 2,227 (+38.4%) Est. Cost — Unrealized —

FIGR FIGURE TECHNOLOGY SOLUTIO 0.1%

Value $2.443M (-6.7%) Shares 71,949 (+12.3%) Est. Cost — Unrealized —

GFL GFL ENVIRONMENTAL INC 0.0%

Value $1.615M (+7.4%) Shares 38,707 (+10.6%) Est. Cost — Unrealized —

KLAR KLARNA GROUP PLC 0.0%

Value $549K (-12.7%) Shares 41,975 (+92.9%) Est. Cost — Unrealized —

ZION ZIONS BANCORPORATION NATL AS 0.0%

Value $670K (+7.8%) Shares 11,630 (+9.6%) Est. Cost — Unrealized —

AFG AMERICAN FINANCIAL GROUP INC 0.0%

Value $630K (+3.3%) Shares 4,935 (+10.6%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ICE	INTERCONTINENTAL EXCHANGE IN	1,121,369 (+232.8%)	$176M (+223.2%)	5.4%	—	—	COM	45866F104
MA	MASTERCARD INCORPORATED	375,555 (+126.6%)	$188M (+98.3%)	5.7%	—	—	CL A	57636Q104
HBAN	HUNTINGTON BANCSHARES INC	8,028,262 (+265.1%)	$126M (+229.3%)	3.8%	—	—	COM	446150104
HD	HOME DEPOT INC	317,929 (+221.7%)	$105M (+207.5%)	3.2%	—	—	COM	437076102
ELV	ELEVANCE HEALTH INC FORMERLY	229,145 (+1702.7%)	$67.08M (+1405.5%)	2.0%	—	—	COM	036752103
ACN	ACCENTURE PLC IRELAND	345,945 (+411.9%)	$68.6M (+278.4%)	2.1%	—	—	SHS CLASS A	G1151C101
AON	AON PLC	323,458 (+107.1%)	$104M (+89.5%)	3.2%	—	—	SHS CL A	G0403H108
HCA	HCA HEALTHCARE INC	86,738 (+932.8%)	$41.05M (+947.0%)	1.2%	—	—	COM	40412C101
TGT	TARGET CORP	275,001 (+6180.0%)	$33.33M (+7686.6%)	1.0%	—	—	COM	87612E106
LEN	LENNAR CORP	848,455 (+96.3%)	$73.68M (+65.9%)	2.2%	—	—	CL A	526057104
CI	THE CIGNA GROUP	214,012 (+84.5%)	$57.09M (+78.8%)	1.7%	—	—	COM	125523100
BAC	BANK AMERICA CORP	3,824,154 (+29.6%)	$186M (+14.9%)	5.7%	—	—	COM	060505104
RF	REGIONS FINANCIAL CORP NEW	1,252,885 (+266.3%)	$32.73M (+253.1%)	1.0%	—	—	COM	7591EP100
FISV	FISERV INC	563,455 (+242.9%)	$31.44M (+184.8%)	1.0%	—	—	COM	337738108
RGA	REINSURANCE GROUP AMER INC	218,452 (+60.0%)	$44.6M (+60.5%)	1.4%	—	—	COM NEW	759351604
CTSH	COGNIZANT TECHNOLOGY SOLUTIO	283,547 (+2544.0%)	$17.4M (+1854.4%)	0.5%	—	—	CL A	192446102
RJF	RAYMOND JAMES FINL INC	359,339 (+54.4%)	$52.03M (+39.2%)	1.6%	—	—	COM	754730109
BLK	BLACKROCK INC	243,110 (+4.7%)	$234M (-5.9%)	7.1%	—	—	COM	09290D101
AMG	AFFILIATED MANAGERS GROUP	61,489 (+313.1%)	$17.01M (+296.5%)	0.5%	—	—	COM	008252108
TFC	TRUIST FINL CORP	2,944,468 (+17.8%)	$135M (+10.0%)	4.1%	—	—	COM	89832Q109
RKT	ROCKET COS INC	1,378,728 (+233.3%)	$19.65M (+145.3%)	0.6%	—	—	COM CL A	77311W101
FIS	FIDELITY NATL INFORMATION SV	743,864 (+97.9%)	$34.89M (+39.7%)	1.1%	—	—	COM	31620M106
EPAM	EPAM SYS INC	77,394 (+979.6%)	$10.48M (+613.5%)	0.3%	—	—	COM	29414B104
COIN	COINBASE GLOBAL INC	61,992 (+457.6%)	$10.82M (+330.5%)	0.3%	—	—	COM CL A	19260Q107
KEY	KEYCORP	3,897,550 (+14.4%)	$78.15M (+11.1%)	2.4%	—	—	COM	493267108
EG	EVEREST GROUP LTD	65,707 (+63.0%)	$21.48M (+57.0%)	0.7%	—	—	COM	G3223R108
SSNC	SS&C TECH HLDGS	404,814 (+3.0%)	$27.35M (-20.4%)	0.8%	—	—	COM	78467J100
SPG	SIMON PPTY GROUP INC NEW	132,995 (+34.5%)	$24.81M (+35.6%)	0.8%	—	—	COM	828806109
ALLY	ALLY FINL INC	176,363 (+824.5%)	$6.919M (+700.8%)	0.2%	—	—	COM	02005N100
SF	STIFEL FINL CORP	424,078 (+109.7%)	$31.35M (+23.8%)	1.0%	—	—	COM	860630102
WRB	BERKLEY W R CORP	138,955 (+160.7%)	$9.21M (+146.4%)	0.3%	—	—	COM	084423102
PAYX	PAYCHEX INC	61,137 (+2192.4%)	$5.632M (+1782.4%)	0.2%	—	—	COM	704326107
DG	DOLLAR GEN CORP	47,172 (+1252.4%)	$5.601M (+1109.4%)	0.2%	—	—	COM	256677105
VOYA	VOYA FINANCIAL INC	286,296 (+46.2%)	$19.56M (+34.1%)	0.6%	—	—	COM	929089100
JEF	JEFFERIES FINANCIAL GROUP IN	258,581 (+177.5%)	$10.67M (+84.8%)	0.3%	—	—	COM	47233W109
MIAX	MIAMI INTL HLDGS INC	123,353 (+617.7%)	$4.801M (+529.4%)	0.1%	—	—	COM	59356Q108
WCN	WASTE CONNECTIONS INC	128,674 (+32.4%)	$20.9M (+22.7%)	0.6%	—	—	COM	94106B101
TPG	TPG INC	153,700 (+224.7%)	$6.226M (+106.0%)	0.2%	—	—	COM CL A	872657101
FAF	FIRST AMERN FINL CORP	62,075 (+473.8%)	$3.743M (+463.0%)	0.1%	—	—	COM	31847R102
EVR	EVERCORE INC	34,376 (+55.9%)	$10.26M (+36.8%)	0.3%	—	—	CLASS A	29977A105
FOUR	SHIFT4 PMTS INC	70,899 (+575.4%)	$3.1M (+369.0%)	0.1%	—	—	CL A	82452J109
FICO	FAIR ISAAC CORP	8,769 (+88.6%)	$9.361M (+19.1%)	0.3%	—	—	COM	303250104
ORLY	OREILLY AUTOMOTIVE INC	17,012 (+415.4%)	$1.57M (+421.6%)	0.0%	—	—	COM	67103H107
GL	GLOBE LIFE INC	107,691 (+7.0%)	$14.99M (+6.5%)	0.5%	—	—	COM	37959E102
CHYM	CHIME FINL INC	64,759 (+311.5%)	$1.213M (+206.2%)	0.0%	—	—	COM SHS CL A	16935C109
GPN	GLOBAL PMTS INC	376,182 (+17.6%)	$25.32M (+2.3%)	0.8%	—	—	COM	37940X102
CSGP	COSTAR GROUP INC	515,387 (+62.7%)	$20.79M (-2.4%)	0.6%	—	—	COM	22160N109
ETOR	ETORO GROUP LTD	25,050 (+134.9%)	$752K (+100.8%)	0.0%	—	—	SHS CL A	G32089107
BURL	BURLINGTON STORES INC	2,227 (+38.4%)	$725K (+55.9%)	0.0%	—	—	COM	122017106
FIGR	FIGURE TECHNOLOGY SOLUTIO	71,949 (+12.3%)	$2.443M (-6.7%)	0.1%	—	—	COM CL A	349381103
GFL	GFL ENVIRONMENTAL INC	38,707 (+10.6%)	$1.615M (+7.4%)	0.0%	—	—	SUB VTG SHS	36168Q104
KLAR	KLARNA GROUP PLC	41,975 (+92.9%)	$549K (-12.7%)	0.0%	—	—	SHS	G5279N105
ZION	ZIONS BANCORPORATION NATL AS	11,630 (+9.6%)	$670K (+7.8%)	0.0%	—	—	COM	989701107
AFG	AMERICAN FINANCIAL GROUP INC	4,935 (+10.6%)	$630K (+3.3%)	0.0%	—	—	COM	025932104

Exited Positions (35)

USB US BANCORP DEL 3.0%

Value $97.66M Shares 1,830,228 Est. Cost — Unrealized —

SCHW SCHWAB CHARLES CORP 2.9%

Value $95.03M Shares 951,165 Est. Cost — Unrealized —

CME CME GROUP INC 2.7%

Value $87.75M Shares 321,318 Est. Cost — Unrealized —

BRO BROWN & BROWN INC 1.4%

Value $47.53M Shares 596,403 Est. Cost — Unrealized —

SPGI S&P GLOBAL INC 1.3%

Value $43.77M Shares 83,757 Est. Cost — Unrealized —

ALL ALLSTATE CORP 1.3%

Value $41.77M Shares 200,684 Est. Cost — Unrealized —

AJG GALLAGHER ARTHUR J & CO 0.9%

Value $30.85M Shares 119,211 Est. Cost — Unrealized —

IBKR INTERACTIVE BROKERS GROUP IN 0.8%

Value $25.29M Shares 393,318 Est. Cost — Unrealized —

TOL TOLL BROTHERS INC 0.7%

Value $22.29M Shares 164,841 Est. Cost — Unrealized —

AFL AFLAC INC 0.7%

Value $21.78M Shares 197,485 Est. Cost — Unrealized —

INVH INVITATION HOMES INC 0.5%

Value $15.73M Shares 566,078 Est. Cost — Unrealized —

EQH EQUITABLE HLDGS INC 0.5%

Value $15.44M Shares 323,978 Est. Cost — Unrealized —

CBOE CBOE GLOBAL MKTS INC 0.5%

Value $15.06M Shares 60,017 Est. Cost — Unrealized —

MSCI MSCI INC 0.4%

Value $14.5M Shares 25,273 Est. Cost — Unrealized —

KKR KKR & CO INC 0.3%

Value $10.24M Shares 80,317 Est. Cost — Unrealized —

PLD PROLOGIS INC. 0.3%

Value $9.811M Shares 76,852 Est. Cost — Unrealized —

IT GARTNER INC 0.3%

Value $8.385M Shares 33,235 Est. Cost — Unrealized —

CBRE CBRE GROUP INC 0.2%

Value $6.716M Shares 41,769 Est. Cost — Unrealized —

RNR RENAISSANCERE HLDGS LTD 0.2%

Value $6.712M Shares 23,871 Est. Cost — Unrealized —

CRM SALESFORCE INC 0.1%

Value $4.623M Shares 17,450 Est. Cost — Unrealized —

VIRT VIRTU FINL INC 0.1%

Value $3.725M Shares 111,782 Est. Cost — Unrealized —

ADBE ADOBE INC 0.1%

Value $3.605M Shares 10,301 Est. Cost — Unrealized —

IRM IRON MTN INC DEL 0.1%

Value $2.579M Shares 31,092 Est. Cost — Unrealized —

XYZ BLOCK INC 0.1%

Value $2.315M Shares 35,559 Est. Cost — Unrealized —

INTU INTUIT 0.1%

Value $1.841M Shares 2,779 Est. Cost — Unrealized —

CPRT COPART INC 0.0%

Value $1.31M Shares 33,461 Est. Cost — Unrealized —

FDS FACTSET RESH SYS INC 0.0%

Value $1.277M Shares 4,401 Est. Cost — Unrealized —

TRI THOMSON REUTERS CORP 0.0%

Value $1.027M Shares 7,787 Est. Cost — Unrealized —

WEX WEX INC 0.0%

Value $807K Shares 5,415 Est. Cost — Unrealized —

WBS WEBSTER FINL CORP 0.0%

Value $790K Shares 12,550 Est. Cost — Unrealized —

AAP ADVANCE AUTO PARTS INC 0.0%

Value $510K Shares 12,966 Est. Cost — Unrealized —

SHOP SHOPIFY INC 0.0%

Value $453K Shares 2,815 Est. Cost — Unrealized —

DLTR DOLLAR TREE INC 0.0%

Value $298K Shares 2,424 Est. Cost — Unrealized —

BJ BJS WHSL CLUB HLDGS INC 0.0%

Value $267K Shares 2,969 Est. Cost — Unrealized —

MET METLIFE INC 0.0%

Value $217K Shares 2,753 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
USB	US BANCORP DEL	1,830,228	$97.66M	3.0%	—	—	—	902973304
SCHW	SCHWAB CHARLES CORP	951,165	$95.03M	2.9%	—	—	—	808513105
CME	CME GROUP INC	321,318	$87.75M	2.7%	—	—	—	12572Q105
BRO	BROWN & BROWN INC	596,403	$47.53M	1.4%	—	—	—	115236101
SPGI	S&P GLOBAL INC	83,757	$43.77M	1.3%	—	—	—	78409V104
ALL	ALLSTATE CORP	200,684	$41.77M	1.3%	—	—	—	020002101
AJG	GALLAGHER ARTHUR J & CO	119,211	$30.85M	0.9%	—	—	—	363576109
IBKR	INTERACTIVE BROKERS GROUP IN	393,318	$25.29M	0.8%	—	—	—	45841N107
TOL	TOLL BROTHERS INC	164,841	$22.29M	0.7%	—	—	—	889478103
AFL	AFLAC INC	197,485	$21.78M	0.7%	—	—	—	001055102
INVH	INVITATION HOMES INC	566,078	$15.73M	0.5%	—	—	—	46187W107
EQH	EQUITABLE HLDGS INC	323,978	$15.44M	0.5%	—	—	—	29452E101
CBOE	CBOE GLOBAL MKTS INC	60,017	$15.06M	0.5%	—	—	—	12503M108
MSCI	MSCI INC	25,273	$14.5M	0.4%	—	—	—	55354G100
KKR	KKR & CO INC	80,317	$10.24M	0.3%	—	—	—	48251W104
PLD	PROLOGIS INC.	76,852	$9.811M	0.3%	—	—	—	74340W103
IT	GARTNER INC	33,235	$8.385M	0.3%	—	—	—	366651107
CBRE	CBRE GROUP INC	41,769	$6.716M	0.2%	—	—	—	12504L109
RNR	RENAISSANCERE HLDGS LTD	23,871	$6.712M	0.2%	—	—	—	G7496G103
CRM	SALESFORCE INC	17,450	$4.623M	0.1%	—	—	—	79466L302
VIRT	VIRTU FINL INC	111,782	$3.725M	0.1%	—	—	—	928254101
ADBE	ADOBE INC	10,301	$3.605M	0.1%	—	—	—	00724F101
IRM	IRON MTN INC DEL	31,092	$2.579M	0.1%	—	—	—	46284V101
XYZ	BLOCK INC	35,559	$2.315M	0.1%	—	—	—	852234103
INTU	INTUIT	2,779	$1.841M	0.1%	—	—	—	461202103
CPRT	COPART INC	33,461	$1.31M	0.0%	—	—	—	217204106
FDS	FACTSET RESH SYS INC	4,401	$1.277M	0.0%	—	—	—	303075105
TRI	THOMSON REUTERS CORP	7,787	$1.027M	0.0%	—	—	—	884903808
WEX	WEX INC	5,415	$807K	0.0%	—	—	—	96208T104
WBS	WEBSTER FINL CORP	12,550	$790K	0.0%	—	—	—	947890109
AAP	ADVANCE AUTO PARTS INC	12,966	$510K	0.0%	—	—	—	00751Y106
SHOP	SHOPIFY INC	2,815	$453K	0.0%	—	—	—	82509L107
DLTR	DOLLAR TREE INC	2,424	$298K	0.0%	—	—	—	256746108
BJ	BJS WHSL CLUB HLDGS INC	2,969	$267K	0.0%	—	—	—	05550J101
MET	METLIFE INC	2,753	$217K	0.0%	—	—	—	59156R108

Decreased Positions (26)

C CITIGROUP INC 0.0%

Value $1.186M (-99.1%) Shares 10,456 (-99.1%) Est. Cost — Unrealized —

AMP AMERIPRISE FINL INC 0.2%

Value $6.99M (-93.1%) Shares 15,730 (-92.4%) Est. Cost — Unrealized —

CB CHUBB LTD SWITZ 0.1%

Value $4.171M (-94.5%) Shares 12,797 (-94.7%) Est. Cost — Unrealized —

NDAQ NASDAQ INC 1.0%

Value $34.38M (-56.6%) Shares 405,030 (-50.4%) Est. Cost — Unrealized —

LOW LOWES COS INC 0.8%

Value $27.27M (-60.8%) Shares 115,404 (-60.0%) Est. Cost — Unrealized —

BX BLACKSTONE INC 0.1%

Value $1.845M (-94.9%) Shares 16,046 (-93.2%) Est. Cost — Unrealized —

CFG CITIZENS FINL GROUP INC 0.7%

Value $22.58M (-59.9%) Shares 376,516 (-61.0%) Est. Cost — Unrealized —

SEIC SEI INVTS CO 1.1%

Value $36.43M (-31.8%) Shares 464,241 (-28.7%) Est. Cost — Unrealized —

BEN FRANKLIN RESOURCES INC 0.2%

Value $7.074M (-67.3%) Shares 299,474 (-66.9%) Est. Cost — Unrealized —

AIG AMERICAN INTL GROUP INC 1.5%

Value $50.67M (-20.5%) Shares 673,315 (-9.7%) Est. Cost — Unrealized —

PRI PRIMERICA INC 0.2%

Value $4.944M (-72.2%) Shares 19,740 (-71.3%) Est. Cost — Unrealized —

IVZ INVESCO LTD 0.0%

Value $1.147M (-89.2%) Shares 47,227 (-88.4%) Est. Cost — Unrealized —

STEP STEPSTONE GROUP INC 0.1%

Value $3.174M (-62.0%) Shares 66,503 (-48.9%) Est. Cost — Unrealized —

CTAS CINTAS CORP 0.0%

Value $659K (-87.9%) Shares 3,895 (-86.5%) Est. Cost — Unrealized —

HLNE HAMILTON LANE INC 0.1%

Value $2.243M (-64.1%) Shares 22,568 (-51.5%) Est. Cost — Unrealized —

JLL JONES LANG LASALLE INC 0.2%

Value $6.054M (-39.0%) Shares 19,892 (-32.6%) Est. Cost — Unrealized —

NSP INSPERITY INC 0.0%

Value $1.019M (-71.0%) Shares 37,680 (-58.4%) Est. Cost — Unrealized —

MKTX MARKETAXESS HLDGS INC 0.2%

Value $5.212M (-28.1%) Shares 31,593 (-21.0%) Est. Cost — Unrealized —

CPAY CORPAY INC 0.5%

Value $15.71M (-10.6%) Shares 53,978 (-7.6%) Est. Cost — Unrealized —

UWMC UWM HOLDINGS CORPORATION 0.0%

Value $452K (-76.7%) Shares 124,927 (-71.8%) Est. Cost — Unrealized —

ARMK ARAMARK 0.0%

Value $631K (-68.7%) Shares 15,571 (-71.5%) Est. Cost — Unrealized —

BILL BILL HOLDINGS INC 0.0%

Value $601K (-63.2%) Shares 15,700 (-47.7%) Est. Cost — Unrealized —

BGC BGC GROUP INC 0.0%

Value $105K (-82.1%) Shares 10,730 (-83.6%) Est. Cost — Unrealized —

ETOR ETORO GROUP LTD 0.0%

Value $631K (-33.5%) Shares 21,000 (-22.2%) Est. Cost — Unrealized —

BILL BILL HOLDINGS INC 0.0%

Value $204K (-53.8%) Shares 5,318 (-34.3%) Est. Cost — Unrealized —

FIVE FIVE BELOW INC 0.0%

Value $229K (-12.8%) Shares 1,003 (-28.1%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
C	CITIGROUP INC	10,456 (-99.1%)	$1.186M (-99.1%)	0.0%	—	—	COM NEW	172967424
AMP	AMERIPRISE FINL INC	15,730 (-92.4%)	$6.99M (-93.1%)	0.2%	—	—	COM	03076C106
CB	CHUBB LTD SWITZ	12,797 (-94.7%)	$4.171M (-94.5%)	0.1%	—	—	COM	H1467J104
NDAQ	NASDAQ INC	405,030 (-50.4%)	$34.38M (-56.6%)	1.0%	—	—	COM	631103108
LOW	LOWES COS INC	115,404 (-60.0%)	$27.27M (-60.8%)	0.8%	—	—	COM	548661107
BX	BLACKSTONE INC	16,046 (-93.2%)	$1.845M (-94.9%)	0.1%	—	—	COM	09260D107
CFG	CITIZENS FINL GROUP INC	376,516 (-61.0%)	$22.58M (-59.9%)	0.7%	—	—	COM	174610105
SEIC	SEI INVTS CO	464,241 (-28.7%)	$36.43M (-31.8%)	1.1%	—	—	COM	784117103
BEN	FRANKLIN RESOURCES INC	299,474 (-66.9%)	$7.074M (-67.3%)	0.2%	—	—	COM	354613101
AIG	AMERICAN INTL GROUP INC	673,315 (-9.7%)	$50.67M (-20.5%)	1.5%	—	—	COM NEW	026874784
PRI	PRIMERICA INC	19,740 (-71.3%)	$4.944M (-72.2%)	0.2%	—	—	COM	74164M108
IVZ	INVESCO LTD	47,227 (-88.4%)	$1.147M (-89.2%)	0.0%	—	—	SHS	G491BT108
STEP	STEPSTONE GROUP INC	66,503 (-48.9%)	$3.174M (-62.0%)	0.1%	—	—	COM CL A	85914M107
CTAS	CINTAS CORP	3,895 (-86.5%)	$659K (-87.9%)	0.0%	—	—	COM	172908105
HLNE	HAMILTON LANE INC	22,568 (-51.5%)	$2.243M (-64.1%)	0.1%	—	—	CL A	407497106
JLL	JONES LANG LASALLE INC	19,892 (-32.6%)	$6.054M (-39.0%)	0.2%	—	—	COM	48020Q107
NSP	INSPERITY INC	37,680 (-58.4%)	$1.019M (-71.0%)	0.0%	—	—	COM	45778Q107
MKTX	MARKETAXESS HLDGS INC	31,593 (-21.0%)	$5.212M (-28.1%)	0.2%	—	—	COM	57060D108
CPAY	CORPAY INC	53,978 (-7.6%)	$15.71M (-10.6%)	0.5%	—	—	COM SHS	219948106
UWMC	UWM HOLDINGS CORPORATION	124,927 (-71.8%)	$452K (-76.7%)	0.0%	—	—	COM CL A	91823B109
ARMK	ARAMARK	15,571 (-71.5%)	$631K (-68.7%)	0.0%	—	—	COM	03852U106
BILL	BILL HOLDINGS INC	15,700 (-47.7%)	$601K (-63.2%)	0.0%	—	—	CALL	090043100
BGC	BGC GROUP INC	10,730 (-83.6%)	$105K (-82.1%)	0.0%	—	—	CL A	088929104
ETOR	ETORO GROUP LTD	21,000 (-22.2%)	$631K (-33.5%)	0.0%	—	—	CALL	G32089107
BILL	BILL HOLDINGS INC	5,318 (-34.3%)	$204K (-53.8%)	0.0%	—	—	COM	090043100
FIVE	FIVE BELOW INC	1,003 (-28.1%)	$229K (-12.8%)	0.0%	—	—	COM	33829M101