COOKE & BIELER LP Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ARMK	Aramark	3,204,294	$118,110	1.2%	$37.92	0.0%	COM	03852U106
AVY	Avery Dennison Corp Com	580,689	$105,616	1.1%	$172.31	0.0%	COM	053611109
MIDD	Middleby Corp	323,623	$48,113	0.5%	$131.27	0.0%	COM	596278101
UL	Unilever PLC ADR	575,110	$37,612	0.4%	$65.40	—	ADR	904767803
MBC	MasterBrand Inc.	2,831,036	$31,255	0.3%	$11.71	0.0%	COM	57638P104
IDT	IDT Corporation	391,126	$20,030	0.2%	$50.12	0.0%	COM	448947507
MKTX	MarketAxess Holdings Inc	104,100	$18,868	0.2%	$169.50	0.0%	COM	57060D108
GLOB	Globant SA	259,010	$16,931	0.2%	$62.86	0.0%	COM	L44385109
FG	F&G Annuities & Life Inc	311,043	$9,596	0.1%	$31.09	0.0%	COM	30190A104
VONV	Vanguard Russell 1000 Value In	54,000	$4,984	0.1%	$92.30	—	COM	92206C714
VTWV	VANGUARD SCOTTSDALE FDS VNG RU	7,510	$1,201	0.0%	$159.93	—	COM	92206C649
MICC	Magnum Ice Cream Company	63,347	$1,004	0.0%	$15.68	0.0%	ADR	N5505D105

Increased Positions (35)

FISV Fiserv Inc 1.6%

Value ($000) $148,648 (+148.8%) Shares 2,213,006 (+377.6%) Est. Cost $96.31 Unrealized -12.9%

DIS The Walt Disney Company 1.7%

Value ($000) $160,236 (+82.6%) Shares 1,408,418 (+83.7%) Est. Cost $106.67 Unrealized +2.7%

BDX Becton Dickinson and Company 2.3%

Value ($000) $218,614 (+31.9%) Shares 1,126,471 (+27.2%) Est. Cost $214.54 Unrealized -11.6%

ACGL Arch Capital Group 2.6%

Value ($000) $252,768 (+19.9%) Shares 2,635,193 (+13.4%) Est. Cost $89.88 Unrealized +1.8%

EOG EOG Resources Inc 1.0%

Value ($000) $95,366 (+53.5%) Shares 908,164 (+63.9%) Est. Cost $105.80 Unrealized +1.3%

BAM Brookfield Asset Management - 1.1%

Value ($000) $104,880 (+36.8%) Shares 2,001,903 (+48.6%) Est. Cost $40.03 Unrealized +33.6%

CCI Crown Castle Inc 2.7%

Value ($000) $260,460 (+11.6%) Shares 2,930,797 (+21.2%) Est. Cost $91.89 Unrealized -0.9%

INGR Ingredion Incorporated 1.4%

Value ($000) $133,101 (+20.7%) Shares 1,207,153 (+33.6%) Est. Cost $102.09 Unrealized +10.5%

PPG PPG Industries 1.7%

Value ($000) $165,644 (+13.8%) Shares 1,616,672 (+16.7%) Est. Cost $114.92 Unrealized -12.9%

OMC Omnicom Group 2.1%

Value ($000) $204,944 (+10.7%) Shares 2,538,012 (+11.8%) Est. Cost $62.83 Unrealized +20.6%

CSL Carlisle Companies Incorporate 1.5%

Value ($000) $142,143 (+15.9%) Shares 444,390 (+19.2%) Est. Cost $355.13 Unrealized -9.1%

RHP Ryman Hospitality Properties 1.2%

Value ($000) $118,383 (+19.2%) Shares 1,251,144 (+12.8%) Est. Cost $98.97 Unrealized —

RUSHA Rush Enterprises Inc. Class A 0.4%

Value ($000) $39,336 (+86.6%) Shares 729,250 (+85.0%) Est. Cost $40.53 Unrealized +28.2%

JBI Janus International Group 0.5%

Value ($000) $50,661 (-25.3%) Shares 7,746,357 (+12.7%) Est. Cost $11.82 Unrealized -34.1%

FUL H.B. Fuller Company 1.0%

Value ($000) $99,754 (+13.6%) Shares 1,677,674 (+13.3%) Est. Cost $58.51 Unrealized +0.0%

OXY Occidental Petroleum 1.3%

Value ($000) $129,430 (-7.4%) Shares 3,147,606 (+6.4%) Est. Cost $55.29 Unrealized -24.9%

COP ConocoPhillips 1.7%

Value ($000) $161,225 (+5.8%) Shares 1,722,300 (+6.9%) Est. Cost $98.81 Unrealized -8.9%

SSD Simpson Manufacturing Co Inc 0.2%

Value ($000) $20,940 (+71.5%) Shares 129,685 (+77.9%) Est. Cost $174.12 Unrealized -3.1%

ITGR Integer Holdings Corporation 0.5%

Value ($000) $48,088 (+21.0%) Shares 613,134 (+59.5%) Est. Cost $85.79 Unrealized -7.1%

GBCI Glacier Bancorp Inc 1.4%

Value ($000) $134,323 (-4.7%) Shares 3,049,334 (+5.3%) Est. Cost $35.71 Unrealized +22.0%

MBUU Malibu Boats Inc 0.5%

Value ($000) $44,216 (-11.8%) Shares 1,567,404 (+1.5%) Est. Cost $47.94 Unrealized -39.5%

VVV Valvoline Inc 1.3%

Value ($000) $124,409 (+3.8%) Shares 4,281,095 (+28.3%) Est. Cost $34.64 Unrealized -7.3%

CBSH Commerce Bancshares 0.5%

Value ($000) $52,099 (-6.9%) Shares 995,394 (+6.2%) Est. Cost $43.71 Unrealized +19.2%

EPAC Enerpac Tool Group Corp 0.6%

Value ($000) $60,338 (-4.8%) Shares 1,577,871 (+2.1%) Est. Cost $29.35 Unrealized +34.9%

HNI HNI Corporation 0.3%

Value ($000) $31,719 (+10.4%) Shares 754,493 (+23.0%) Est. Cost $46.40 Unrealized -9.0%

NXPI NXP Semiconductors N.V. 0.2%

Value ($000) $23,776 (+13.1%) Shares 109,536 (+18.7%) Est. Cost $201.11 Unrealized +6.3%

WSFS WSFS Financial 0.6%

Value ($000) $58,328 (+4.8%) Shares 1,055,902 (+2.3%) Est. Cost $51.20 Unrealized +6.9%

CNMD CONMED Corporation 0.4%

Value ($000) $35,233 (+6.4%) Shares 867,817 (+23.2%) Est. Cost $73.40 Unrealized -40.7%

MSA MSA Safety 1.5%

Value ($000) $143,971 (+1.5%) Shares 899,030 (+9.0%) Est. Cost $175.69 Unrealized -7.3%

BV BrightView Holdings Inc 0.5%

Value ($000) $46,226 (-3.3%) Shares 3,648,496 (+2.3%) Est. Cost $13.53 Unrealized -6.2%

BUR Burford Capital Limited 0.5%

Value ($000) $46,335 (-2.3%) Shares 5,194,551 (+31.0%) Est. Cost $12.67 Unrealized -22.7%

STC Stewart Information Services 0.4%

Value ($000) $39,557 (-2.2%) Shares 563,003 (+2.1%) Est. Cost $49.46 Unrealized +45.6%

VREX Varex Imaging Corporation 0.2%

Value ($000) $19,019 (-4.0%) Shares 1,632,525 (+2.2%) Est. Cost $23.46 Unrealized -50.1%

BN Brookfield Corp 1.7%

Value ($000) $161,921 (+0.3%) Shares 3,528,460 (+49.9%) Est. Cost $29.96 Unrealized +52.0%

AWI Armstrong World Industries Inc 0.4%

Value ($000) $37,083 (-0.5%) Shares 194,048 (+2.0%) Est. Cost $89.82 Unrealized +112.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FISV	Fiserv Inc	2,213,006 (+377.6%)	$148,648 (+148.8%)	1.6%	$96.31	-12.9%	COM	337738108
DIS	The Walt Disney Company	1,408,418 (+83.7%)	$160,236 (+82.6%)	1.7%	$106.67	+2.7%	COM	254687106
BDX	Becton Dickinson and Company	1,126,471 (+27.2%)	$218,614 (+31.9%)	2.3%	$214.54	-11.6%	COM	075887109
ACGL	Arch Capital Group	2,635,193 (+13.4%)	$252,768 (+19.9%)	2.6%	$89.88	+1.8%	COM	G0450A105
EOG	EOG Resources Inc	908,164 (+63.9%)	$95,366 (+53.5%)	1.0%	$105.80	+1.3%	COM	26875P101
BAM	Brookfield Asset Management -	2,001,903 (+48.6%)	$104,880 (+36.8%)	1.1%	$40.03	+33.6%	COM	113004105
CCI	Crown Castle Inc	2,930,797 (+21.2%)	$260,460 (+11.6%)	2.7%	$91.89	-0.9%	COM	22822V101
INGR	Ingredion Incorporated	1,207,153 (+33.6%)	$133,101 (+20.7%)	1.4%	$102.09	+10.5%	COM	457187102
PPG	PPG Industries	1,616,672 (+16.7%)	$165,644 (+13.8%)	1.7%	$114.92	-12.9%	COM	693506107
OMC	Omnicom Group	2,538,012 (+11.8%)	$204,944 (+10.7%)	2.1%	$62.83	+20.6%	COM	681919106
CSL	Carlisle Companies Incorporate	444,390 (+19.2%)	$142,143 (+15.9%)	1.5%	$355.13	-9.1%	COM	142339100
RHP	Ryman Hospitality Properties	1,251,144 (+12.8%)	$118,383 (+19.2%)	1.2%	$98.97	—	COM	78377T107
RUSHA	Rush Enterprises Inc. Class A	729,250 (+85.0%)	$39,336 (+86.6%)	0.4%	$40.53	+28.2%	COM	781846209
JBI	Janus International Group	7,746,357 (+12.7%)	$50,661 (-25.3%)	0.5%	$11.82	-34.1%	COM	47103N106
FUL	H.B. Fuller Company	1,677,674 (+13.3%)	$99,754 (+13.6%)	1.0%	$58.51	+0.0%	COM	359694106
OXY	Occidental Petroleum	3,147,606 (+6.4%)	$129,430 (-7.4%)	1.3%	$55.29	-24.9%	COM	674599105
COP	ConocoPhillips	1,722,300 (+6.9%)	$161,225 (+5.8%)	1.7%	$98.81	-8.9%	COM	20825C104
SSD	Simpson Manufacturing Co Inc	129,685 (+77.9%)	$20,940 (+71.5%)	0.2%	$174.12	-3.1%	COM	829073105
ITGR	Integer Holdings Corporation	613,134 (+59.5%)	$48,088 (+21.0%)	0.5%	$85.79	-7.1%	COM	45826H109
GBCI	Glacier Bancorp Inc	3,049,334 (+5.3%)	$134,323 (-4.7%)	1.4%	$35.71	+22.0%	COM	37637Q105
MBUU	Malibu Boats Inc	1,567,404 (+1.5%)	$44,216 (-11.8%)	0.5%	$47.94	-39.5%	COM	56117J100
VVV	Valvoline Inc	4,281,095 (+28.3%)	$124,409 (+3.8%)	1.3%	$34.64	-7.3%	COM	92047W101
CBSH	Commerce Bancshares	995,394 (+6.2%)	$52,099 (-6.9%)	0.5%	$43.71	+19.2%	COM	200525103
EPAC	Enerpac Tool Group Corp	1,577,871 (+2.1%)	$60,338 (-4.8%)	0.6%	$29.35	+34.9%	COM	292765104
HNI	HNI Corporation	754,493 (+23.0%)	$31,719 (+10.4%)	0.3%	$46.40	-9.0%	COM	404251100
NXPI	NXP Semiconductors N.V.	109,536 (+18.7%)	$23,776 (+13.1%)	0.2%	$201.11	+6.3%	COM	N6596X109
WSFS	WSFS Financial	1,055,902 (+2.3%)	$58,328 (+4.8%)	0.6%	$51.20	+6.9%	COM	929328102
CNMD	CONMED Corporation	867,817 (+23.2%)	$35,233 (+6.4%)	0.4%	$73.40	-40.7%	COM	207410101
MSA	MSA Safety	899,030 (+9.0%)	$143,971 (+1.5%)	1.5%	$175.69	-7.3%	COM	553498106
BV	BrightView Holdings Inc	3,648,496 (+2.3%)	$46,226 (-3.3%)	0.5%	$13.53	-6.2%	COM	10948C107
BUR	Burford Capital Limited	5,194,551 (+31.0%)	$46,335 (-2.3%)	0.5%	$12.67	-22.7%	COM	G17977110
STC	Stewart Information Services	563,003 (+2.1%)	$39,557 (-2.2%)	0.4%	$49.46	+45.6%	COM	860372101
VREX	Varex Imaging Corporation	1,632,525 (+2.2%)	$19,019 (-4.0%)	0.2%	$23.46	-50.1%	COM	92214X106
BN	Brookfield Corp	3,528,460 (+49.9%)	$161,921 (+0.3%)	1.7%	$29.96	+52.0%	COM	11271J107
AWI	Armstrong World Industries Inc	194,048 (+2.0%)	$37,083 (-0.5%)	0.4%	$89.82	+112.3%	COM	04247X102

Exited Positions (7)

KMX CarMax Inc 1.0%

Value ($000) $100,570 Shares 2,241,359 Est. Cost $90.37 Unrealized -55.7%

FLO Flowers Foods Inc 0.7%

Value ($000) $71,292 Shares 5,463,003 Est. Cost $21.54 Unrealized -46.9%

BAX Baxter International Inc 0.5%

Value ($000) $50,114 Shares 2,200,860 Est. Cost $47.54 Unrealized -57.9%

AL Air Lease Corp 0.5%

Value ($000) $45,816 Shares 719,812 Est. Cost $33.61 Unrealized +89.5%

— Unilever PLC ADR 0.4%

Value ($000) $38,424 Shares 648,171 Est. Cost $54.24 Unrealized —

— Steelcase Cl A 0.1%

Value ($000) $11,376 Shares 661,424 Est. Cost $15.41 Unrealized —

— Hanesbrands Inc 0.0%

Value ($000) $621 Shares 94,210 Est. Cost $12.91 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
KMX	CarMax Inc	2,241,359	$100,570	1.0%	$90.37	-55.7%	—	143130102
FLO	Flowers Foods Inc	5,463,003	$71,292	0.7%	$21.54	-46.9%	—	343498101
BAX	Baxter International Inc	2,200,860	$50,114	0.5%	$47.54	-57.9%	—	071813109
AL	Air Lease Corp	719,812	$45,816	0.5%	$33.61	+89.5%	—	00912X302
—	Unilever PLC ADR	648,171	$38,424	0.4%	$54.24	—	—	904767704
—	Steelcase Cl A	661,424	$11,376	0.1%	$15.41	—	—	858155203
—	Hanesbrands Inc	94,210	$621	0.0%	$12.91	—	—	410345102

Decreased Positions (34)

AER AerCap Holdings N.V. 1.6%

Value ($000) $150,097 (-46.1%) Shares 1,044,083 (-54.6%) Est. Cost $49.43 Unrealized +167.9%

OTEX Open Text Corp 0.4%

Value ($000) $39,192 (-75.5%) Shares 1,202,951 (-71.9%) Est. Cost $30.93 Unrealized +14.5%

TEL TE Connectivity 0.0%

Value ($000) $969 (-98.8%) Shares 4,260 (-98.9%) Est. Cost $146.90 Unrealized +57.4%

ATO Atmos Energy 1.1%

Value ($000) $107,391 (-32.9%) Shares 640,641 (-31.7%) Est. Cost $96.55 Unrealized +78.5%

AMWD American Woodmark 0.1%

Value ($000) $14,047 (-77.4%) Shares 260,616 (-72.0%) Est. Cost $86.38 Unrealized -32.2%

SCHW Charles Schwab Corporation 1.2%

Value ($000) $110,595 (-28.4%) Shares 1,106,950 (-31.6%) Est. Cost $53.27 Unrealized +77.8%

ARW Arrow Electronics 0.2%

Value ($000) $18,179 (-70.0%) Shares 164,993 (-67.0%) Est. Cost $90.31 Unrealized +25.8%

WTM White Mountains Insurance Grou 2.3%

Value ($000) $221,474 (+22.9%) Shares 106,579 (-1.2%) Est. Cost $1835.05 Unrealized +6.6%

FNF Fidelity National Financial In 2.9%

Value ($000) $282,226 (-11.3%) Shares 5,169,924 (-1.7%) Est. Cost $32.19 Unrealized +70.1%

WWD Woodward 1.5%

Value ($000) $139,924 (-19.6%) Shares 462,834 (-32.8%) Est. Cost $109.60 Unrealized +150.7%

RNR RenaissanceRe 3.2%

Value ($000) $308,107 (+9.6%) Shares 1,095,841 (-1.0%) Est. Cost $207.01 Unrealized +27.1%

RBA RB Global Inc 2.6%

Value ($000) $252,644 (-8.3%) Shares 2,455,953 (-3.5%) Est. Cost $57.26 Unrealized +77.4%

ALLE Allegion PLC 0.7%

Value ($000) $69,776 (-18.8%) Shares 438,237 (-9.5%) Est. Cost $132.74 Unrealized +25.6%

TGLS Tecnoglass 0.3%

Value ($000) $24,525 (-34.0%) Shares 487,371 (-12.2%) Est. Cost $40.46 Unrealized +34.9%

UNH UnitedHealth Group 1.2%

Value ($000) $113,830 (-9.5%) Shares 344,824 (-5.4%) Est. Cost $455.38 Unrealized -26.0%

HCA HCA Healthcare Inc. 0.4%

Value ($000) $40,507 (-22.5%) Shares 86,765 (-29.3%) Est. Cost $181.21 Unrealized +155.9%

WGO Winnebago 0.7%

Value ($000) $71,253 (+18.8%) Shares 1,758,476 (-1.9%) Est. Cost $46.60 Unrealized -21.8%

BAC Bank of America 1.2%

Value ($000) $111,002 (-8.9%) Shares 2,018,224 (-14.5%) Est. Cost $36.16 Unrealized +45.7%

KHC The Kraft Heinz Company 1.1%

Value ($000) $106,040 (-8.3%) Shares 4,372,775 (-1.5%) Est. Cost $31.23 Unrealized -21.1%

TKR The Timken Company 1.2%

Value ($000) $116,248 (+8.6%) Shares 1,381,769 (-2.9%) Est. Cost $71.66 Unrealized +11.0%

MKSI MKS Inc. 1.6%

Value ($000) $154,479 (-5.6%) Shares 966,703 (-26.9%) Est. Cost $107.85 Unrealized +37.4%

STT State Street 1.2%

Value ($000) $117,842 (-6.8%) Shares 913,434 (-16.2%) Est. Cost $59.91 Unrealized +98.6%

ESAB ESAB Corporation 1.1%

Value ($000) $104,912 (-5.8%) Shares 939,058 (-5.8%) Est. Cost $74.46 Unrealized +53.6%

HAS Hasbro 1.6%

Value ($000) $156,023 (+3.6%) Shares 1,902,718 (-4.1%) Est. Cost $61.96 Unrealized +25.9%

CB Chubb Limited 1.8%

Value ($000) $176,465 (+3.2%) Shares 565,375 (-6.7%) Est. Cost $183.00 Unrealized +59.8%

TFX Teleflex Incorporated 1.5%

Value ($000) $144,395 (-3.3%) Shares 1,183,176 (-3.1%) Est. Cost $208.31 Unrealized -41.9%

GRC Gorman Rupp Co 0.1%

Value ($000) $9,416 (-34.1%) Shares 197,203 (-36.0%) Est. Cost $31.20 Unrealized +49.3%

WFRD Weatherford International plc 0.2%

Value ($000) $17,104 (-17.7%) Shares 218,549 (-28.1%) Est. Cost $78.41 Unrealized -7.4%

LKQ LKQ Corp 1.3%

Value ($000) $120,685 (-2.1%) Shares 3,996,199 (-1.0%) Est. Cost $43.72 Unrealized -31.4%

JPM JP Morgan Chase 0.0%

Value ($000) $603 (-65.1%) Shares 1,872 (-65.8%) Est. Cost $77.36 Unrealized +300.1%

JNJ Johnson & Johnson 1.3%

Value ($000) $120,763 (-0.4%) Shares 583,536 (-10.8%) Est. Cost $110.06 Unrealized +79.0%

COLB Columbia Banking System 0.7%

Value ($000) $63,045 (-0.3%) Shares 2,255,633 (-8.2%) Est. Cost $23.46 Unrealized +14.4%

PM Philip Morris Int'l 0.0%

Value ($000) $1,111 (-10.0%) Shares 6,928 (-9.0%) Est. Cost $77.89 Unrealized +97.2%

GOOGL Alphabet Inc CL A 0.0%

Value ($000) $861 (-9.2%) Shares 2,752 (-29.5%) Est. Cost $99.47 Unrealized +187.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AER	AerCap Holdings N.V.	1,044,083 (-54.6%)	$150,097 (-46.1%)	1.6%	$49.43	+167.9%	COM	N00985106
OTEX	Open Text Corp	1,202,951 (-71.9%)	$39,192 (-75.5%)	0.4%	$30.93	+14.5%	COM	683715106
TEL	TE Connectivity	4,260 (-98.9%)	$969 (-98.8%)	0.0%	$146.90	+57.4%	COM	G87052109
ATO	Atmos Energy	640,641 (-31.7%)	$107,391 (-32.9%)	1.1%	$96.55	+78.5%	COM	049560105
AMWD	American Woodmark	260,616 (-72.0%)	$14,047 (-77.4%)	0.1%	$86.38	-32.2%	COM	030506109
SCHW	Charles Schwab Corporation	1,106,950 (-31.6%)	$110,595 (-28.4%)	1.2%	$53.27	+77.8%	COM	808513105
ARW	Arrow Electronics	164,993 (-67.0%)	$18,179 (-70.0%)	0.2%	$90.31	+25.8%	COM	042735100
WTM	White Mountains Insurance Grou	106,579 (-1.2%)	$221,474 (+22.9%)	2.3%	$1835.05	+6.6%	COM	G9618E107
FNF	Fidelity National Financial In	5,169,924 (-1.7%)	$282,226 (-11.3%)	2.9%	$32.19	+70.1%	COM	31620R303
WWD	Woodward	462,834 (-32.8%)	$139,924 (-19.6%)	1.5%	$109.60	+150.7%	COM	980745103
RNR	RenaissanceRe	1,095,841 (-1.0%)	$308,107 (+9.6%)	3.2%	$207.01	+27.1%	COM	G7496G103
RBA	RB Global Inc	2,455,953 (-3.5%)	$252,644 (-8.3%)	2.6%	$57.26	+77.4%	COM	74935Q107
ALLE	Allegion PLC	438,237 (-9.5%)	$69,776 (-18.8%)	0.7%	$132.74	+25.6%	COM	G0176J109
TGLS	Tecnoglass	487,371 (-12.2%)	$24,525 (-34.0%)	0.3%	$40.46	+34.9%	COM	G87264100
UNH	UnitedHealth Group	344,824 (-5.4%)	$113,830 (-9.5%)	1.2%	$455.38	-26.0%	COM	91324P102
HCA	HCA Healthcare Inc.	86,765 (-29.3%)	$40,507 (-22.5%)	0.4%	$181.21	+155.9%	COM	40412C101
WGO	Winnebago	1,758,476 (-1.9%)	$71,253 (+18.8%)	0.7%	$46.60	-21.8%	COM	974637100
BAC	Bank of America	2,018,224 (-14.5%)	$111,002 (-8.9%)	1.2%	$36.16	+45.7%	COM	060505104
KHC	The Kraft Heinz Company	4,372,775 (-1.5%)	$106,040 (-8.3%)	1.1%	$31.23	-21.1%	COM	500754106
TKR	The Timken Company	1,381,769 (-2.9%)	$116,248 (+8.6%)	1.2%	$71.66	+11.0%	COM	887389104
MKSI	MKS Inc.	966,703 (-26.9%)	$154,479 (-5.6%)	1.6%	$107.85	+37.4%	COM	55306N104
STT	State Street	913,434 (-16.2%)	$117,842 (-6.8%)	1.2%	$59.91	+98.6%	COM	857477103
ESAB	ESAB Corporation	939,058 (-5.8%)	$104,912 (-5.8%)	1.1%	$74.46	+53.6%	COM	29605J106
HAS	Hasbro	1,902,718 (-4.1%)	$156,023 (+3.6%)	1.6%	$61.96	+25.9%	COM	418056107
CB	Chubb Limited	565,375 (-6.7%)	$176,465 (+3.2%)	1.8%	$183.00	+59.8%	COM	H1467J104
TFX	Teleflex Incorporated	1,183,176 (-3.1%)	$144,395 (-3.3%)	1.5%	$208.31	-41.9%	COM	879369106
GRC	Gorman Rupp Co	197,203 (-36.0%)	$9,416 (-34.1%)	0.1%	$31.20	+49.3%	COM	383082104
WFRD	Weatherford International plc	218,549 (-28.1%)	$17,104 (-17.7%)	0.2%	$78.41	-7.4%	COM	G48833118
LKQ	LKQ Corp	3,996,199 (-1.0%)	$120,685 (-2.1%)	1.3%	$43.72	-31.4%	COM	501889208
JPM	JP Morgan Chase	1,872 (-65.8%)	$603 (-65.1%)	0.0%	$77.36	+300.1%	COM	46625H100
JNJ	Johnson & Johnson	583,536 (-10.8%)	$120,763 (-0.4%)	1.3%	$110.06	+79.0%	COM	478160104
COLB	Columbia Banking System	2,255,633 (-8.2%)	$63,045 (-0.3%)	0.7%	$23.46	+14.4%	COM	197236102
PM	Philip Morris Int'l	6,928 (-9.0%)	$1,111 (-10.0%)	0.0%	$77.89	+97.2%	COM	718172109
GOOGL	Alphabet Inc CL A	2,752 (-29.5%)	$861 (-9.2%)	0.0%	$99.47	+187.1%	COM	02079K305

Unchanged Positions (23)

GIL Gildan Activewear 4.7%

Value ($000) $454,278 Shares 7,273,109 Est. Cost $25.01 Unrealized +137.7%

PRGO Perrigo Co PLC 0.5%

Value ($000) $51,703 Shares 3,714,313 Est. Cost $41.51 Unrealized -59.8%

LH Labcorp Holdings 2.0%

Value ($000) $188,892 Shares 752,916 Est. Cost $199.75 Unrealized +32.7%

CRL Charles River Laboratories 1.3%

Value ($000) $121,197 Shares 607,565 Est. Cost $182.39 Unrealized -0.5%

DFH Dream Finders Homes Inc 0.4%

Value ($000) $42,529 Shares 2,487,064 Est. Cost $23.82 Unrealized -14.1%

WMG Warner Music Group Corp 1.7%

Value ($000) $160,818 Shares 5,243,498 Est. Cost $27.28 Unrealized +10.9%

XRAY Dentsply Sirona Inc 1.0%

Value ($000) $96,738 Shares 8,463,488 Est. Cost $39.60 Unrealized -70.4%

C Citigroup 0.7%

Value ($000) $66,214 Shares 567,435 Est. Cost $66.43 Unrealized +56.0%

VZ Verizon Communications 1.0%

Value ($000) $91,427 Shares 2,244,709 Est. Cost $37.97 Unrealized +6.6%

AESI Atlas Energy Solutions Inc 0.4%

Value ($000) $39,434 Shares 4,186,243 Est. Cost $17.15 Unrealized -41.1%

MKL Markel Group 0.7%

Value ($000) $68,890 Shares 32,047 Est. Cost $1357.05 Unrealized +49.3%

APG APi Group 0.8%

Value ($000) $73,646 Shares 1,924,873 Est. Cost $22.24 Unrealized +66.3%

XPO XPO Inc 1.3%

Value ($000) $126,900 Shares 933,703 Est. Cost $113.62 Unrealized +19.9%

ESNT Essent Group Ltd 1.3%

Value ($000) $126,900 Shares 1,952,006 Est. Cost $48.02 Unrealized +29.3%

BOOM DMC Global Inc 0.1%

Value ($000) $13,302 Shares 1,988,267 Est. Cost $35.86 Unrealized -80.8%

CBRE CBRE Group Inc. Cl A 1.1%

Value ($000) $103,481 Shares 643,580 Est. Cost $88.06 Unrealized +78.5%

MTB M&T Bank Corporation 0.7%

Value ($000) $65,392 Shares 324,560 Est. Cost $155.65 Unrealized +22.1%

SWK Stanley Black & Decker 1.0%

Value ($000) $92,222 Shares 1,241,546 Est. Cost $130.55 Unrealized -46.5%

MDT Medtronic PLC 0.9%

Value ($000) $90,500 Shares 942,124 Est. Cost $86.32 Unrealized +12.5%

GOOG Alphabet Inc CL C 0.0%

Value ($000) $502 Shares 1,600 Est. Cost $129.05 Unrealized +121.9%

TJX TJX COS INC NEW COM 0.0%

Value ($000) $384 Shares 2,500 Est. Cost $76.14 Unrealized +94.0%

GIS General Mills 0.0%

Value ($000) $233 Shares 5,000 Est. Cost $51.37 Unrealized -7.6%

BRK/B Berkshire Hathaway Cl B 0.0%

Value ($000) $1,161 Shares 2,310 Est. Cost $217.21 Unrealized +129.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GIL	Gildan Activewear	7,273,109	$454,278	4.7%	$25.01	+137.7%	COM	375916103
PRGO	Perrigo Co PLC	3,714,313	$51,703	0.5%	$41.51	-59.8%	COM	G97822103
LH	Labcorp Holdings	752,916	$188,892	2.0%	$199.75	+32.7%	COM	504922105
CRL	Charles River Laboratories	607,565	$121,197	1.3%	$182.39	-0.5%	COM	159864107
DFH	Dream Finders Homes Inc	2,487,064	$42,529	0.4%	$23.82	-14.1%	COM	26154D100
WMG	Warner Music Group Corp	5,243,498	$160,818	1.7%	$27.28	+10.9%	COM	934550203
XRAY	Dentsply Sirona Inc	8,463,488	$96,738	1.0%	$39.60	-70.4%	COM	24906P109
C	Citigroup	567,435	$66,214	0.7%	$66.43	+56.0%	COM	172967424
VZ	Verizon Communications	2,244,709	$91,427	1.0%	$37.97	+6.6%	COM	92343V104
AESI	Atlas Energy Solutions Inc	4,186,243	$39,434	0.4%	$17.15	-41.1%	COM	642045108
MKL	Markel Group	32,047	$68,890	0.7%	$1357.05	+49.3%	COM	570535104
APG	APi Group	1,924,873	$73,646	0.8%	$22.24	+66.3%	COM	00187Y100
XPO	XPO Inc	933,703	$126,900	1.3%	$113.62	+19.9%	COM	983793100
ESNT	Essent Group Ltd	1,952,006	$126,900	1.3%	$48.02	+29.3%	COM	G3198U102
BOOM	DMC Global Inc	1,988,267	$13,302	0.1%	$35.86	-80.8%	COM	23291C103
CBRE	CBRE Group Inc. Cl A	643,580	$103,481	1.1%	$88.06	+78.5%	COM	12504L109
MTB	M&T Bank Corporation	324,560	$65,392	0.7%	$155.65	+22.1%	COM	55261F104
SWK	Stanley Black & Decker	1,241,546	$92,222	1.0%	$130.55	-46.5%	COM	854502101
MDT	Medtronic PLC	942,124	$90,500	0.9%	$86.32	+12.5%	COM	G5960L103
GOOG	Alphabet Inc CL C	1,600	$502	0.0%	$129.05	+121.9%	COM	02079K107
TJX	TJX COS INC NEW COM	2,500	$384	0.0%	$76.14	+94.0%	COM	872540109
GIS	General Mills	5,000	$233	0.0%	$51.37	-7.6%	COM	370334104
BRK/B	Berkshire Hathaway Cl B	2,310	$1,161	0.0%	$217.21	+129.1%	COM	084670702