QSV Equity Investors LLC Diversified Active

CIK: 0002011250 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 12, 2026

Total Value ($000): $67,618 (100.0% shares, 0.0% debt)

Holdings (89)

New Positions (5)

MKTX MARKETAXESS HLDGS INC 1.8%

Value ($000) $1,224 Shares 6,753 Est. Cost $169.50 Unrealized 0.0%

SPSC SPS COMM INC 1.4%

Value ($000) $918 Shares 10,300 Est. Cost $92.71 Unrealized 0.0%

TNET TRINET GROUP INC 1.3%

Value ($000) $851 Shares 14,388 Est. Cost $59.14 Unrealized 0.0%

CPRT COPART INC 0.4%

Value ($000) $265 Shares 6,758 Est. Cost $41.46 Unrealized 0.0%

CHD CHURCH & DWIGHT CO INC 0.4%

Value ($000) $239 Shares 2,849 Est. Cost $85.27 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MKTX	MARKETAXESS HLDGS INC	6,753	$1,224	1.8%	$169.50	0.0%	COM	57060D108
SPSC	SPS COMM INC	10,300	$918	1.4%	$92.71	0.0%	COM	78463M107
TNET	TRINET GROUP INC	14,388	$851	1.3%	$59.14	0.0%	COM	896288107
CPRT	COPART INC	6,758	$265	0.4%	$41.46	0.0%	COM	217204106
CHD	CHURCH & DWIGHT CO INC	2,849	$239	0.4%	$85.27	0.0%	COM	171340102

Increased Positions (1)

FDS FACTSET RESH SYS INC 0.4%

Value ($000) $293 (+16.4%) Shares 1,011 (+14.9%) Est. Cost $394.04 Unrealized -28.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FDS	FACTSET RESH SYS INC	1,011 (+14.9%)	$293 (+16.4%)	0.4%	$394.04	-28.9%	COM	303075105

Exited Positions (8)

CSGS CSG SYS INTL INC 3.2%

Value ($000) $2,132 Shares 33,114 Est. Cost $48.98 Unrealized +50.1%

— LXP INDUSTRIAL TRUST 2.3%

Value ($000) $1,554 Shares 173,464 Est. Cost $8.65 Unrealized —

AUDC AUDIOCODES LTD 1.9%

Value ($000) $1,287 Shares 135,187 Est. Cost $9.32 Unrealized -5.0%

MGPI MGP INGREDIENTS INC NEW 1.1%

Value ($000) $768 Shares 31,766 Est. Cost $59.29 Unrealized -58.9%

VSTS VESTIS CORPORATION 0.8%

Value ($000) $515 Shares 113,646 Est. Cost $13.40 Unrealized -56.5%

ARE ALEXANDRIA REAL ESTATE EQ IN 0.4%

Value ($000) $282 Shares 3,385 Est. Cost $92.02 Unrealized -37.0%

CPB THE CAMPBELLS COMPANY 0.3%

Value ($000) $232 Shares 7,355 Est. Cost $37.60 Unrealized -20.0%

LECO LINCOLN ELEC HLDGS INC 0.3%

Value ($000) $203 Shares 861 Est. Cost $234.18 Unrealized +1.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CSGS	CSG SYS INTL INC	33,114	$2,132	3.2%	$48.98	+50.1%	—	126349109
—	LXP INDUSTRIAL TRUST	173,464	$1,554	2.3%	$8.65	—	—	529043101
AUDC	AUDIOCODES LTD	135,187	$1,287	1.9%	$9.32	-5.0%	—	M15342104
MGPI	MGP INGREDIENTS INC NEW	31,766	$768	1.1%	$59.29	-58.9%	—	55303J106
VSTS	VESTIS CORPORATION	113,646	$515	0.8%	$13.40	-56.5%	—	29430C102
ARE	ALEXANDRIA REAL ESTATE EQ IN	3,385	$282	0.4%	$92.02	-37.0%	—	015271109
CPB	THE CAMPBELLS COMPANY	7,355	$232	0.3%	$37.60	-20.0%	—	134429109
LECO	LINCOLN ELEC HLDGS INC	861	$203	0.3%	$234.18	+1.1%	—	533900106

Decreased Positions (80)

DORM DORMAN PRODS INC 1.7%

Value ($000) $1,170 (-45.2%) Shares 9,496 (-30.7%) Est. Cost $74.71 Unrealized +80.7%

WD WALKER & DUNLOP INC 1.1%

Value ($000) $749 (-55.3%) Shares 12,453 (-37.8%) Est. Cost $79.35 Unrealized -11.2%

OZK BANK OZK LITTLE ROCK ARK 2.2%

Value ($000) $1,511 (-35.5%) Shares 32,827 (-28.6%) Est. Cost $38.28 Unrealized +20.9%

SBCF SEACOAST BKG CORP FLA 1.5%

Value ($000) $1,005 (-44.8%) Shares 31,980 (-46.6%) Est. Cost $23.95 Unrealized +30.1%

GBCI GLACIER BANCORP INC NEW 2.1%

Value ($000) $1,391 (-35.8%) Shares 31,587 (-29.1%) Est. Cost $32.21 Unrealized +35.3%

AEIS ADVANCED ENERGY INDS 1.2%

Value ($000) $843 (-47.6%) Shares 4,027 (-57.4%) Est. Cost $96.53 Unrealized +110.8%

GNTX GENTEX CORP 1.6%

Value ($000) $1,089 (-40.6%) Shares 46,797 (-27.8%) Est. Cost $23.20 Unrealized +3.9%

PRI PRIMERICA INC 2.0%

Value ($000) $1,341 (-34.9%) Shares 5,192 (-30.1%) Est. Cost $204.36 Unrealized +27.7%

EXLS EXLSERVICE HOLDINGS INC 1.8%

Value ($000) $1,248 (-34.6%) Shares 29,405 (-32.2%) Est. Cost $28.31 Unrealized +44.4%

THG HANOVER INS GROUP INC 1.9%

Value ($000) $1,318 (-32.6%) Shares 7,209 (-33.0%) Est. Cost $112.93 Unrealized +58.6%

BRC BRADY CORP 2.2%

Value ($000) $1,479 (-29.6%) Shares 18,876 (-29.9%) Est. Cost $53.43 Unrealized +44.4%

CGNX COGNEX CORP 1.0%

Value ($000) $682 (-47.3%) Shares 18,944 (-33.6%) Est. Cost $38.78 Unrealized +4.2%

ALG ALAMO GROUP INC 1.3%

Value ($000) $865 (-41.1%) Shares 5,156 (-33.0%) Est. Cost $180.42 Unrealized -3.7%

ICFI ICF INTL INC 1.5%

Value ($000) $1,042 (-36.1%) Shares 12,218 (-30.5%) Est. Cost $120.39 Unrealized -29.5%

FBK FB FINL CORP 1.9%

Value ($000) $1,305 (-31.0%) Shares 23,395 (-31.1%) Est. Cost $32.39 Unrealized +71.7%

EVTC EVERTEC INC 1.2%

Value ($000) $830 (-41.3%) Shares 28,538 (-31.8%) Est. Cost $36.46 Unrealized -18.5%

EVR EVERCORE INC 1.7%

Value ($000) $1,157 (-32.7%) Shares 3,401 (-33.2%) Est. Cost $140.62 Unrealized +128.2%

CTRE CARETRUST REIT INC 2.1%

Value ($000) $1,423 (-27.6%) Shares 39,359 (-30.5%) Est. Cost $27.05 Unrealized —

ABM ABM INDS INC 1.3%

Value ($000) $899 (-36.6%) Shares 21,252 (-30.8%) Est. Cost $40.27 Unrealized +8.4%

NSA NATIONAL STORAGE AFFILIATES 1.4%

Value ($000) $922 (-35.9%) Shares 32,695 (-31.4%) Est. Cost $41.47 Unrealized —

ADUS ADDUS HOMECARE CORP 1.2%

Value ($000) $794 (-39.3%) Shares 7,396 (-33.3%) Est. Cost $86.94 Unrealized +32.1%

PRGS PROGRESS SOFTWARE CORP 1.6%

Value ($000) $1,066 (-32.4%) Shares 24,814 (-30.8%) Est. Cost $53.03 Unrealized -17.8%

WSBC WESBANCO INC 1.7%

Value ($000) $1,138 (-30.8%) Shares 34,246 (-33.5%) Est. Cost $33.39 Unrealized -3.2%

CBT CABOT CORP 1.1%

Value ($000) $718 (-41.1%) Shares 10,831 (-32.4%) Est. Cost $75.24 Unrealized -11.9%

PSTL POSTAL REALTY TRUST INC 1.7%

Value ($000) $1,118 (-30.9%) Shares 69,253 (-32.8%) Est. Cost $14.40 Unrealized —

HWC HANCOCK WHITNEY CORPORATION 1.6%

Value ($000) $1,049 (-32.1%) Shares 16,472 (-33.2%) Est. Cost $50.86 Unrealized +19.4%

USPH U S PHYSICAL THERAPY 1.1%

Value ($000) $766 (-39.0%) Shares 9,808 (-33.7%) Est. Cost $88.04 Unrealized -7.8%

ZD ZIFF DAVIS INC 1.1%

Value ($000) $730 (-39.0%) Shares 20,770 (-33.9%) Est. Cost $58.45 Unrealized -40.4%

GTY GETTY RLTY CORP NEW 1.6%

Value ($000) $1,074 (-29.4%) Shares 39,250 (-30.8%) Est. Cost $29.22 Unrealized —

FAF FIRST AMERN FINL CORP 1.2%

Value ($000) $782 (-36.0%) Shares 12,734 (-33.1%) Est. Cost $52.84 Unrealized +17.9%

NXRT NEXPOINT RESIDENTIAL TR INC 1.2%

Value ($000) $788 (-35.7%) Shares 26,165 (-31.2%) Est. Cost $34.59 Unrealized —

KWR QUAKER HOUGHTON 1.4%

Value ($000) $977 (-30.2%) Shares 7,115 (-33.1%) Est. Cost $108.58 Unrealized +24.3%

CHE CHEMED CORP NEW 1.4%

Value ($000) $938 (-31.0%) Shares 2,192 (-27.8%) Est. Cost $469.31 Unrealized -7.3%

ESAB ESAB CORPORATION 1.3%

Value ($000) $886 (-32.0%) Shares 7,930 (-32.0%) Est. Cost $118.71 Unrealized -3.7%

ATEN A10 NETWORKS INC 1.2%

Value ($000) $778 (-34.6%) Shares 43,965 (-32.9%) Est. Cost $17.94 Unrealized -1.7%

UFPI UFP INDUSTRIES INC 1.1%

Value ($000) $760 (-34.5%) Shares 8,348 (-32.8%) Est. Cost $107.97 Unrealized -15.2%

KAI KADANT INC 1.0%

Value ($000) $696 (-35.8%) Shares 2,441 (-32.9%) Est. Cost $247.79 Unrealized +14.5%

ASTH ASTRANA HEALTH INC 1.1%

Value ($000) $739 (-33.9%) Shares 29,786 (-24.5%) Est. Cost $37.55 Unrealized -29.3%

INVA INNOVIVA INC 1.6%

Value ($000) $1,071 (-25.8%) Shares 53,571 (-32.3%) Est. Cost $13.98 Unrealized +39.7%

REYN REYNOLDS CONSUMER PRODS INC 0.9%

Value ($000) $636 (-36.9%) Shares 27,745 (-32.7%) Est. Cost $21.87 Unrealized +8.7%

AWR AMER STATES WTR CO 1.1%

Value ($000) $728 (-33.7%) Shares 10,039 (-32.9%) Est. Cost $76.07 Unrealized -3.6%

HBNC HORIZON BANCORP INC 1.3%

Value ($000) $894 (-29.1%) Shares 52,708 (-33.1%) Est. Cost $11.28 Unrealized +46.8%

WDFC WD 40 CO 1.1%

Value ($000) $735 (-33.3%) Shares 3,731 (-33.1%) Est. Cost $215.12 Unrealized -8.9%

KLIC KULICKE & SOFFA INDS INC 1.6%

Value ($000) $1,054 (-24.3%) Shares 23,139 (-32.5%) Est. Cost $44.90 Unrealized -6.3%

CZNC CITIZENS & NORTHN CORP 1.0%

Value ($000) $689 (-31.8%) Shares 34,140 (-33.0%) Est. Cost $17.29 Unrealized +13.3%

ITRN ITURAN LOCATION AND CONTROL 2.2%

Value ($000) $1,454 (-17.2%) Shares 33,810 (-31.2%) Est. Cost $26.44 Unrealized +48.3%

RLI RLI CORP 0.8%

Value ($000) $559 (-33.9%) Shares 8,739 (-32.6%) Est. Cost $67.48 Unrealized -8.9%

CXT CRANE NXT CO 0.9%

Value ($000) $623 (-30.6%) Shares 13,244 (-1.2%) Est. Cost $59.28 Unrealized -0.5%

LBRT LIBERTY ENERGY INC 1.3%

Value ($000) $896 (-23.1%) Shares 48,552 (-48.6%) Est. Cost $16.97 Unrealized -1.5%

WHD CACTUS INC 1.3%

Value ($000) $909 (-22.4%) Shares 19,905 (-33.0%) Est. Cost $51.88 Unrealized -19.4%

TNC TENNANT CO 1.3%

Value ($000) $876 (-20.8%) Shares 11,883 (-12.9%) Est. Cost $73.12 Unrealized +4.2%

LSTR LANDSTAR SYS INC 1.8%

Value ($000) $1,204 (-15.7%) Shares 8,376 (-28.1%) Est. Cost $122.56 Unrealized —

CPRX CATALYST PHARMACEUTICALS INC 1.2%

Value ($000) $840 (-20.2%) Shares 36,010 (-32.7%) Est. Cost $15.57 Unrealized +43.1%

CNS COHEN & STEERS INC 1.2%

Value ($000) $821 (-15.1%) Shares 13,074 (-11.3%) Est. Cost $56.51 Unrealized +14.6%

POWI POWER INTEGRATIONS INC 1.1%

Value ($000) $757 (-16.0%) Shares 21,300 (-5.0%) Est. Cost $70.06 Unrealized -46.1%

BRKR BRUKER CORP 1.3%

Value ($000) $851 (+18.3%) Shares 18,063 (-18.4%) Est. Cost $38.48 Unrealized +9.7%

IOSP INNOSPEC INC 1.2%

Value ($000) $819 (-12.8%) Shares 10,694 (-12.1%) Est. Cost $102.52 Unrealized -26.8%

HAE HAEMONETICS CORP MASS 1.7%

Value ($000) $1,125 (+11.0%) Shares 14,034 (-32.5%) Est. Cost $66.21 Unrealized +1.5%

PAYC PAYCOM SOFTWARE INC 0.4%

Value ($000) $284 (-26.8%) Shares 1,781 (-4.4%) Est. Cost $158.40 Unrealized +11.7%

GMED GLOBUS MED INC 2.2%

Value ($000) $1,470 (+5.8%) Shares 16,832 (-30.6%) Est. Cost $54.37 Unrealized +39.6%

LH LABCORP HOLDINGS INC 0.6%

Value ($000) $396 (-16.2%) Shares 1,580 (-4.1%) Est. Cost $240.27 Unrealized +10.4%

ZBRA ZEBRA TECHNOLOGIES CORPORATI 0.4%

Value ($000) $245 (-21.8%) Shares 1,009 (-4.4%) Est. Cost $238.22 Unrealized +12.3%

BAH BOOZ ALLEN HAMILTON HLDG COR 0.4%

Value ($000) $249 (-19.4%) Shares 2,949 (-4.5%) Est. Cost $116.48 Unrealized -24.0%

CF CF INDS HLDGS INC 0.4%

Value ($000) $247 (-17.7%) Shares 3,192 (-4.6%) Est. Cost $75.62 Unrealized +8.3%

TYL TYLER TECHNOLOGIES INC 0.3%

Value ($000) $235 (-16.9%) Shares 518 (-4.3%) Est. Cost $399.79 Unrealized +19.2%

JKHY HENRY JACK & ASSOC INC 0.4%

Value ($000) $285 (+16.5%) Shares 1,561 (-4.9%) Est. Cost $148.87 Unrealized +11.7%

OTIS OTIS WORLDWIDE CORP 0.5%

Value ($000) $361 (-8.4%) Shares 4,129 (-4.1%) Est. Cost $89.63 Unrealized -0.4%

BR BROADRIDGE FINL SOLUTIONS IN 0.4%

Value ($000) $286 (-10.2%) Shares 1,283 (-4.2%) Est. Cost $178.14 Unrealized +27.6%

MSA MSA SAFETY INC 0.3%

Value ($000) $226 (-11.9%) Shares 1,412 (-5.3%) Est. Cost $162.55 Unrealized +0.2%

JLL JONES LANG LASALLE INC 0.5%

Value ($000) $365 (+8.0%) Shares 1,086 (-4.2%) Est. Cost $151.29 Unrealized +107.2%

HAL HALLIBURTON CO 0.5%

Value ($000) $314 (+9.3%) Shares 11,124 (-4.8%) Est. Cost $24.87 Unrealized +5.7%

NDAQ NASDAQ INC 0.3%

Value ($000) $232 (+8.5%) Shares 2,385 (-1.2%) Est. Cost $79.17 Unrealized +13.4%

ELS EQUITY LIFESTYLE PPTYS INC 0.5%

Value ($000) $317 (-4.6%) Shares 5,228 (-4.5%) Est. Cost $60.70 Unrealized —

DOX AMDOCS LTD 0.3%

Value ($000) $229 (-6.2%) Shares 2,849 (-4.4%) Est. Cost $79.59 Unrealized +0.4%

ROL ROLLINS INC 0.6%

Value ($000) $390 (-2.2%) Shares 6,505 (-4.3%) Est. Cost $37.88 Unrealized +54.8%

— SYNOVUS FINL CORP 0.5%

Value ($000) $340 (-2.4%) Shares 6,794 (-4.3%) Est. Cost $37.65 Unrealized —

ICLR ICON PLC 0.4%

Value ($000) $248 (-1.0%) Shares 1,361 (-4.9%) Est. Cost $193.87 Unrealized -8.1%

EGP EASTGROUP PPTYS INC 0.4%

Value ($000) $277 (+0.6%) Shares 1,555 (-4.4%) Est. Cost $183.54 Unrealized —

CPAY CORPAY INC 0.4%

Value ($000) $254 (-0.4%) Shares 843 (-4.7%) Est. Cost $286.94 Unrealized +1.2%

WST WEST PHARMACEUTICAL SVSC INC 0.4%

Value ($000) $280 (+0.1%) Shares 1,018 (-4.6%) Est. Cost $344.54 Unrealized -20.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DORM	DORMAN PRODS INC	9,496 (-30.7%)	$1,170 (-45.2%)	1.7%	$74.71	+80.7%	COM	258278100
WD	WALKER & DUNLOP INC	12,453 (-37.8%)	$749 (-55.3%)	1.1%	$79.35	-11.2%	COM	93148P102
OZK	BANK OZK LITTLE ROCK ARK	32,827 (-28.6%)	$1,511 (-35.5%)	2.2%	$38.28	+20.9%	COM	06417N103
SBCF	SEACOAST BKG CORP FLA	31,980 (-46.6%)	$1,005 (-44.8%)	1.5%	$23.95	+30.1%	COM NEW	811707801
GBCI	GLACIER BANCORP INC NEW	31,587 (-29.1%)	$1,391 (-35.8%)	2.1%	$32.21	+35.3%	COM	37637Q105
AEIS	ADVANCED ENERGY INDS	4,027 (-57.4%)	$843 (-47.6%)	1.2%	$96.53	+110.8%	COM	007973100
GNTX	GENTEX CORP	46,797 (-27.8%)	$1,089 (-40.6%)	1.6%	$23.20	+3.9%	COM	371901109
PRI	PRIMERICA INC	5,192 (-30.1%)	$1,341 (-34.9%)	2.0%	$204.36	+27.7%	COM	74164M108
EXLS	EXLSERVICE HOLDINGS INC	29,405 (-32.2%)	$1,248 (-34.6%)	1.8%	$28.31	+44.4%	COM	302081104
THG	HANOVER INS GROUP INC	7,209 (-33.0%)	$1,318 (-32.6%)	1.9%	$112.93	+58.6%	COM	410867105
BRC	BRADY CORP	18,876 (-29.9%)	$1,479 (-29.6%)	2.2%	$53.43	+44.4%	CL A	104674106
CGNX	COGNEX CORP	18,944 (-33.6%)	$682 (-47.3%)	1.0%	$38.78	+4.2%	COM	192422103
ALG	ALAMO GROUP INC	5,156 (-33.0%)	$865 (-41.1%)	1.3%	$180.42	-3.7%	COM	011311107
ICFI	ICF INTL INC	12,218 (-30.5%)	$1,042 (-36.1%)	1.5%	$120.39	-29.5%	COM	44925C103
FBK	FB FINL CORP	23,395 (-31.1%)	$1,305 (-31.0%)	1.9%	$32.39	+71.7%	COM	30257X104
EVTC	EVERTEC INC	28,538 (-31.8%)	$830 (-41.3%)	1.2%	$36.46	-18.5%	COM	30040P103
EVR	EVERCORE INC	3,401 (-33.2%)	$1,157 (-32.7%)	1.7%	$140.62	+128.2%	CLASS A	29977A105
CTRE	CARETRUST REIT INC	39,359 (-30.5%)	$1,423 (-27.6%)	2.1%	$27.05	—	COM	14174T107
ABM	ABM INDS INC	21,252 (-30.8%)	$899 (-36.6%)	1.3%	$40.27	+8.4%	COM	000957100
NSA	NATIONAL STORAGE AFFILIATES	32,695 (-31.4%)	$922 (-35.9%)	1.4%	$41.47	—	COM SHS BEN IN	637870106
ADUS	ADDUS HOMECARE CORP	7,396 (-33.3%)	$794 (-39.3%)	1.2%	$86.94	+32.1%	COM	006739106
PRGS	PROGRESS SOFTWARE CORP	24,814 (-30.8%)	$1,066 (-32.4%)	1.6%	$53.03	-17.8%	COM	743312100
WSBC	WESBANCO INC	34,246 (-33.5%)	$1,138 (-30.8%)	1.7%	$33.39	-3.2%	COM	950810101
CBT	CABOT CORP	10,831 (-32.4%)	$718 (-41.1%)	1.1%	$75.24	-11.9%	COM	127055101
PSTL	POSTAL REALTY TRUST INC	69,253 (-32.8%)	$1,118 (-30.9%)	1.7%	$14.40	—	CL A	73757R102
HWC	HANCOCK WHITNEY CORPORATION	16,472 (-33.2%)	$1,049 (-32.1%)	1.6%	$50.86	+19.4%	COM	410120109
USPH	U S PHYSICAL THERAPY	9,808 (-33.7%)	$766 (-39.0%)	1.1%	$88.04	-7.8%	COM	90337L108
ZD	ZIFF DAVIS INC	20,770 (-33.9%)	$730 (-39.0%)	1.1%	$58.45	-40.4%	COM	48123V102
GTY	GETTY RLTY CORP NEW	39,250 (-30.8%)	$1,074 (-29.4%)	1.6%	$29.22	—	COM	374297109
FAF	FIRST AMERN FINL CORP	12,734 (-33.1%)	$782 (-36.0%)	1.2%	$52.84	+17.9%	COM	31847R102
NXRT	NEXPOINT RESIDENTIAL TR INC	26,165 (-31.2%)	$788 (-35.7%)	1.2%	$34.59	—	COM	65341D102
KWR	QUAKER HOUGHTON	7,115 (-33.1%)	$977 (-30.2%)	1.4%	$108.58	+24.3%	COM	747316107
CHE	CHEMED CORP NEW	2,192 (-27.8%)	$938 (-31.0%)	1.4%	$469.31	-7.3%	COM	16359R103
ESAB	ESAB CORPORATION	7,930 (-32.0%)	$886 (-32.0%)	1.3%	$118.71	-3.7%	COM	29605J106
ATEN	A10 NETWORKS INC	43,965 (-32.9%)	$778 (-34.6%)	1.2%	$17.94	-1.7%	COM	002121101
UFPI	UFP INDUSTRIES INC	8,348 (-32.8%)	$760 (-34.5%)	1.1%	$107.97	-15.2%	COM	90278Q108
KAI	KADANT INC	2,441 (-32.9%)	$696 (-35.8%)	1.0%	$247.79	+14.5%	COM	48282T104
ASTH	ASTRANA HEALTH INC	29,786 (-24.5%)	$739 (-33.9%)	1.1%	$37.55	-29.3%	COM NEW	03763A207
INVA	INNOVIVA INC	53,571 (-32.3%)	$1,071 (-25.8%)	1.6%	$13.98	+39.7%	COM	45781M101
REYN	REYNOLDS CONSUMER PRODS INC	27,745 (-32.7%)	$636 (-36.9%)	0.9%	$21.87	+8.7%	COM	76171L106
AWR	AMER STATES WTR CO	10,039 (-32.9%)	$728 (-33.7%)	1.1%	$76.07	-3.6%	COM	029899101
HBNC	HORIZON BANCORP INC	52,708 (-33.1%)	$894 (-29.1%)	1.3%	$11.28	+46.8%	COM	440407104
WDFC	WD 40 CO	3,731 (-33.1%)	$735 (-33.3%)	1.1%	$215.12	-8.9%	COM	929236107
KLIC	KULICKE & SOFFA INDS INC	23,139 (-32.5%)	$1,054 (-24.3%)	1.6%	$44.90	-6.3%	COM	501242101
CZNC	CITIZENS & NORTHN CORP	34,140 (-33.0%)	$689 (-31.8%)	1.0%	$17.29	+13.3%	COM	172922106
ITRN	ITURAN LOCATION AND CONTROL	33,810 (-31.2%)	$1,454 (-17.2%)	2.2%	$26.44	+48.3%	SHS	M6158M104
RLI	RLI CORP	8,739 (-32.6%)	$559 (-33.9%)	0.8%	$67.48	-8.9%	COM	749607107
CXT	CRANE NXT CO	13,244 (-1.2%)	$623 (-30.6%)	0.9%	$59.28	-0.5%	COM	224441105
LBRT	LIBERTY ENERGY INC	48,552 (-48.6%)	$896 (-23.1%)	1.3%	$16.97	-1.5%	COM CL A	53115L104
WHD	CACTUS INC	19,905 (-33.0%)	$909 (-22.4%)	1.3%	$51.88	-19.4%	CL A	127203107
TNC	TENNANT CO	11,883 (-12.9%)	$876 (-20.8%)	1.3%	$73.12	+4.2%	COM	880345103
LSTR	LANDSTAR SYS INC	8,376 (-28.1%)	$1,204 (-15.7%)	1.8%	$122.56	—	COM	515098101
CPRX	CATALYST PHARMACEUTICALS INC	36,010 (-32.7%)	$840 (-20.2%)	1.2%	$15.57	+43.1%	COM	14888U101
CNS	COHEN & STEERS INC	13,074 (-11.3%)	$821 (-15.1%)	1.2%	$56.51	+14.6%	COM	19247A100
POWI	POWER INTEGRATIONS INC	21,300 (-5.0%)	$757 (-16.0%)	1.1%	$70.06	-46.1%	COM	739276103
BRKR	BRUKER CORP	18,063 (-18.4%)	$851 (+18.3%)	1.3%	$38.48	+9.7%	COM	116794108
IOSP	INNOSPEC INC	10,694 (-12.1%)	$819 (-12.8%)	1.2%	$102.52	-26.8%	COM	45768S105
HAE	HAEMONETICS CORP MASS	14,034 (-32.5%)	$1,125 (+11.0%)	1.7%	$66.21	+1.5%	COM	405024100
PAYC	PAYCOM SOFTWARE INC	1,781 (-4.4%)	$284 (-26.8%)	0.4%	$158.40	+11.7%	COM	70432V102
GMED	GLOBUS MED INC	16,832 (-30.6%)	$1,470 (+5.8%)	2.2%	$54.37	+39.6%	CL A	379577208
LH	LABCORP HOLDINGS INC	1,580 (-4.1%)	$396 (-16.2%)	0.6%	$240.27	+10.4%	COM SHS	504922105
ZBRA	ZEBRA TECHNOLOGIES CORPORATI	1,009 (-4.4%)	$245 (-21.8%)	0.4%	$238.22	+12.3%	CL A	989207105
BAH	BOOZ ALLEN HAMILTON HLDG COR	2,949 (-4.5%)	$249 (-19.4%)	0.4%	$116.48	-24.0%	CL A	099502106
CF	CF INDS HLDGS INC	3,192 (-4.6%)	$247 (-17.7%)	0.4%	$75.62	+8.3%	COM	125269100
TYL	TYLER TECHNOLOGIES INC	518 (-4.3%)	$235 (-16.9%)	0.3%	$399.79	+19.2%	COM	902252105
JKHY	HENRY JACK & ASSOC INC	1,561 (-4.9%)	$285 (+16.5%)	0.4%	$148.87	+11.7%	COM	426281101
OTIS	OTIS WORLDWIDE CORP	4,129 (-4.1%)	$361 (-8.4%)	0.5%	$89.63	-0.4%	COM	68902V107
BR	BROADRIDGE FINL SOLUTIONS IN	1,283 (-4.2%)	$286 (-10.2%)	0.4%	$178.14	+27.6%	COM	11133T103
MSA	MSA SAFETY INC	1,412 (-5.3%)	$226 (-11.9%)	0.3%	$162.55	+0.2%	COM	553498106
JLL	JONES LANG LASALLE INC	1,086 (-4.2%)	$365 (+8.0%)	0.5%	$151.29	+107.2%	COM	48020Q107
HAL	HALLIBURTON CO	11,124 (-4.8%)	$314 (+9.3%)	0.5%	$24.87	+5.7%	COM	406216101
NDAQ	NASDAQ INC	2,385 (-1.2%)	$232 (+8.5%)	0.3%	$79.17	+13.4%	COM	631103108
ELS	EQUITY LIFESTYLE PPTYS INC	5,228 (-4.5%)	$317 (-4.6%)	0.5%	$60.70	—	COM	29472R108
DOX	AMDOCS LTD	2,849 (-4.4%)	$229 (-6.2%)	0.3%	$79.59	+0.4%	SHS	G02602103
ROL	ROLLINS INC	6,505 (-4.3%)	$390 (-2.2%)	0.6%	$37.88	+54.8%	COM	775711104
—	SYNOVUS FINL CORP	6,794 (-4.3%)	$340 (-2.4%)	0.5%	$37.65	—	COM NEW	87161C501
ICLR	ICON PLC	1,361 (-4.9%)	$248 (-1.0%)	0.4%	$193.87	-8.1%	SHS	G4705A100
EGP	EASTGROUP PPTYS INC	1,555 (-4.4%)	$277 (+0.6%)	0.4%	$183.54	—	COM	277276101
CPAY	CORPAY INC	843 (-4.7%)	$254 (-0.4%)	0.4%	$286.94	+1.2%	COM SHS	219948106
WST	WEST PHARMACEUTICAL SVSC INC	1,018 (-4.6%)	$280 (+0.1%)	0.4%	$344.54	-20.6%	COM	955306105

Unchanged Positions (3)

MOAT VANECK ETF TRUST 0.8%

Value ($000) $513 Shares 4,950 Est. Cost $84.87 Unrealized —

— NUVEEN FLOATING RATE INCOME 0.2%

Value ($000) $103 Shares 13,184 Est. Cost $8.22 Unrealized —

— WESTERN ASSET GBL HIGH INC F 0.1%

Value ($000) $75 Shares 11,744 Est. Cost $6.94 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MOAT	VANECK ETF TRUST	4,950	$513	0.8%	$84.87	—	MRNGSTR WDE MOAT	92189F643
—	NUVEEN FLOATING RATE INCOME	13,184	$103	0.2%	$8.22	—	COM	67072T108
—	WESTERN ASSET GBL HIGH INC F	11,744	$75	0.1%	$6.94	—	COM	95766B109