HGK ASSET MANAGEMENT INC Diversified Active

CIK: 0000740272 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Jan 27, 2026

Total Value ($000): $674,938 (100.0% shares, 0.0% debt)

Holdings (87)

New Positions (6)

OMC Omnicom Group Inc. 1.0%

Value ($000) $6,893 Shares 85,363 Est. Cost $75.76 Unrealized 0.0%

O Realty Income Corp. 0.8%

Value ($000) $5,475 Shares 97,124 Est. Cost $57.36 Unrealized 0.0%

AMCR Amcor Plc 0.7%

Value ($000) $5,043 Shares 604,625 Est. Cost $8.34 Unrealized —

TMHC Taylor Morrison Home Corp 0.1%

Value ($000) $872 Shares 14,813 Est. Cost $61.13 Unrealized 0.0%

BDC Belden Inc 0.1%

Value ($000) $809 Shares 6,937 Est. Cost $116.62 Unrealized 0.0%

AHCO AdaptHealth Corp 0.1%

Value ($000) $614 Shares 61,636 Est. Cost $9.55 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
OMC	Omnicom Group Inc.	85,363	$6,893	1.0%	$75.76	0.0%	COM	681919106
O	Realty Income Corp.	97,124	$5,475	0.8%	$57.36	0.0%	COM	756109104
AMCR	Amcor Plc	604,625	$5,043	0.7%	$8.34	—	ORD	G0250X149
TMHC	Taylor Morrison Home Corp	14,813	$872	0.1%	$61.13	0.0%	COM	87724P106
BDC	Belden Inc	6,937	$809	0.1%	$116.62	0.0%	COM	077454106
AHCO	AdaptHealth Corp	61,636	$614	0.1%	$9.55	0.0%	COM	00653Q102

Increased Positions (36)

ICLR Icon Plc 7.0%

Value ($000) $47,459 (+35.1%) Shares 260,449 (+29.7%) Est. Cost $236.56 Unrealized -24.7%

INFY Infosys Ltd 7.5%

Value ($000) $50,710 (+11.0%) Shares 2,845,690 (+1.3%) Est. Cost $18.52 Unrealized —

WBD Warner Bros. Discovery Inc 1.6%

Value ($000) $11,020 (+59.0%) Shares 382,368 (+7.8%) Est. Cost $16.73 Unrealized +39.7%

BMY Bristol-Myers Squibb Co. 1.3%

Value ($000) $9,103 (+39.2%) Shares 168,767 (+16.4%) Est. Cost $47.78 Unrealized -0.5%

COP Conoco Phillips 1.1%

Value ($000) $7,640 (+36.4%) Shares 81,612 (+37.9%) Est. Cost $72.48 Unrealized +24.2%

STZ Constellation Brands Inc 1.0%

Value ($000) $6,631 (+39.4%) Shares 48,062 (+36.1%) Est. Cost $175.47 Unrealized -22.0%

DOV Dover Corp. 1.2%

Value ($000) $8,389 (+26.2%) Shares 42,966 (+7.9%) Est. Cost $117.17 Unrealized +55.2%

EOG EOG Resources Inc. 1.0%

Value ($000) $6,980 (+33.1%) Shares 66,470 (+42.1%) Est. Cost $112.99 Unrealized -5.1%

NUE Nucor Corp. 1.1%

Value ($000) $7,731 (+23.5%) Shares 47,397 (+2.5%) Est. Cost $131.76 Unrealized +13.7%

BDX Becton Dickinson And Co. 1.2%

Value ($000) $8,305 (+18.7%) Shares 42,792 (+14.5%) Est. Cost $213.83 Unrealized -11.4%

ACN ACCENTURE PLC-CL A 1.2%

Value ($000) $8,261 (+18.5%) Shares 30,790 (+8.9%) Est. Cost $285.82 Unrealized -11.1%

OKE Oneok Inc. 1.1%

Value ($000) $7,678 (+20.0%) Shares 104,460 (+19.2%) Est. Cost $78.25 Unrealized -10.0%

UDR UDR Inc 1.2%

Value ($000) $8,030 (+17.1%) Shares 218,910 (+19.0%) Est. Cost $38.05 Unrealized -6.6%

JNJ Johnson & Johnson 1.3%

Value ($000) $9,045 (+14.4%) Shares 43,706 (+2.5%) Est. Cost $106.07 Unrealized +85.7%

URI United Rentals Inc. 1.0%

Value ($000) $6,898 (-9.7%) Shares 8,523 (+6.5%) Est. Cost $483.18 Unrealized +79.5%

GPC Genuine Parts Co. 1.0%

Value ($000) $6,570 (-9.0%) Shares 53,434 (+2.5%) Est. Cost $103.46 Unrealized +24.4%

SJM J.M. Smucker Co. 1.0%

Value ($000) $7,085 (+8.9%) Shares 72,437 (+20.9%) Est. Cost $105.81 Unrealized -2.8%

CMCSA Comcast Corp 1.0%

Value ($000) $6,857 (+7.6%) Shares 229,400 (+13.1%) Est. Cost $33.58 Unrealized -15.0%

MET Metlife Inc 1.2%

Value ($000) $8,044 (+4.2%) Shares 101,903 (+8.7%) Est. Cost $42.16 Unrealized +87.2%

PB Prosperity Bancshares Inc. 0.2%

Value ($000) $1,569 (+22.0%) Shares 22,696 (+17.2%) Est. Cost $72.34 Unrealized -7.4%

HOMB Home Bancshares Inc 0.2%

Value ($000) $1,495 (+22.7%) Shares 53,818 (+25.0%) Est. Cost $25.66 Unrealized +8.1%

HD Home Depot Inc. 1.1%

Value ($000) $7,155 (-3.5%) Shares 20,792 (+13.6%) Est. Cost $288.77 Unrealized +26.3%

DUK Duke Energy Corp. 1.1%

Value ($000) $7,421 (-2.8%) Shares 63,317 (+2.6%) Est. Cost $110.75 Unrealized +9.8%

MGRC McGrath Rentcorp 0.1%

Value ($000) $359 (+109.1%) Shares 3,422 (+133.7%) Est. Cost $107.71 Unrealized +0.6%

VVV Valvoline Inc 0.1%

Value ($000) $804 (-17.3%) Shares 27,672 (+2.2%) Est. Cost $31.80 Unrealized +1.0%

SNA Snap-on Inc. 1.2%

Value ($000) $7,935 (+1.9%) Shares 23,028 (+2.5%) Est. Cost $172.27 Unrealized +97.6%

KHC Kraft Heinz Co 0.9%

Value ($000) $6,292 (+2.3%) Shares 259,473 (+9.8%) Est. Cost $29.84 Unrealized -17.5%

AFL Aflac Inc. 1.1%

Value ($000) $7,296 (+1.1%) Shares 66,164 (+2.4%) Est. Cost $56.68 Unrealized +93.8%

SLM SLM CORP 0.2%

Value ($000) $1,044 (+8.5%) Shares 38,591 (+11.0%) Est. Cost $15.81 Unrealized +73.4%

SPG Simon Property Group Inc. 1.1%

Value ($000) $7,544 (+1.0%) Shares 40,756 (+2.4%) Est. Cost $106.58 Unrealized +68.9%

ROCK Gibraltar Industries Inc. 0.1%

Value ($000) $869 (-8.0%) Shares 17,580 (+16.8%) Est. Cost $59.28 Unrealized -3.3%

ALG Alamo Group Inc. 0.1%

Value ($000) $765 (-8.4%) Shares 4,556 (+4.2%) Est. Cost $145.24 Unrealized +19.6%

AGM Federal Agricultural Mortgage Corp. 0.2%

Value ($000) $1,053 (+6.8%) Shares 6,000 (+2.1%) Est. Cost $170.88 Unrealized -2.2%

FISV Fiserv Inc. 1.0%

Value ($000) $6,745 (+0.6%) Shares 100,415 (+93.1%) Est. Cost $105.83 Unrealized -20.8%

HSY Hershey Company 0.9%

Value ($000) $6,237 (-0.2%) Shares 34,271 (+2.5%) Est. Cost $177.17 Unrealized +2.8%

OLLI Ollies Bargain Outlet Holdings Inc 0.1%

Value ($000) $726 (+0.6%) Shares 6,619 (+17.9%) Est. Cost $90.13 Unrealized +33.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ICLR	Icon Plc	260,449 (+29.7%)	$47,459 (+35.1%)	7.0%	$236.56	-24.7%	SHS	G4705A100
INFY	Infosys Ltd	2,845,690 (+1.3%)	$50,710 (+11.0%)	7.5%	$18.52	—	SPONSORED ADR	456788108
WBD	Warner Bros. Discovery Inc	382,368 (+7.8%)	$11,020 (+59.0%)	1.6%	$16.73	+39.7%	COM SER A	934423104
BMY	Bristol-Myers Squibb Co.	168,767 (+16.4%)	$9,103 (+39.2%)	1.3%	$47.78	-0.5%	COM	110122108
COP	Conoco Phillips	81,612 (+37.9%)	$7,640 (+36.4%)	1.1%	$72.48	+24.2%	COM	20825C104
STZ	Constellation Brands Inc	48,062 (+36.1%)	$6,631 (+39.4%)	1.0%	$175.47	-22.0%	CL A	21036P108
DOV	Dover Corp.	42,966 (+7.9%)	$8,389 (+26.2%)	1.2%	$117.17	+55.2%	COM	260003108
EOG	EOG Resources Inc.	66,470 (+42.1%)	$6,980 (+33.1%)	1.0%	$112.99	-5.1%	COM	26875P101
NUE	Nucor Corp.	47,397 (+2.5%)	$7,731 (+23.5%)	1.1%	$131.76	+13.7%	COM	670346105
BDX	Becton Dickinson And Co.	42,792 (+14.5%)	$8,305 (+18.7%)	1.2%	$213.83	-11.4%	COM	075887109
ACN	ACCENTURE PLC-CL A	30,790 (+8.9%)	$8,261 (+18.5%)	1.2%	$285.82	-11.1%	SHS CLASS A	G1151C101
OKE	Oneok Inc.	104,460 (+19.2%)	$7,678 (+20.0%)	1.1%	$78.25	-10.0%	COM	682680103
UDR	UDR Inc	218,910 (+19.0%)	$8,030 (+17.1%)	1.2%	$38.05	-6.6%	COM	902653104
JNJ	Johnson & Johnson	43,706 (+2.5%)	$9,045 (+14.4%)	1.3%	$106.07	+85.7%	SHS	478160104
URI	United Rentals Inc.	8,523 (+6.5%)	$6,898 (-9.7%)	1.0%	$483.18	+79.5%	COM	911363109
GPC	Genuine Parts Co.	53,434 (+2.5%)	$6,570 (-9.0%)	1.0%	$103.46	+24.4%	COM	372460105
SJM	J.M. Smucker Co.	72,437 (+20.9%)	$7,085 (+8.9%)	1.0%	$105.81	-2.8%	COM NEW	832696405
CMCSA	Comcast Corp	229,400 (+13.1%)	$6,857 (+7.6%)	1.0%	$33.58	-15.0%	CL A	20030N101
MET	Metlife Inc	101,903 (+8.7%)	$8,044 (+4.2%)	1.2%	$42.16	+87.2%	COM	59156R108
PB	Prosperity Bancshares Inc.	22,696 (+17.2%)	$1,569 (+22.0%)	0.2%	$72.34	-7.4%	COM	743606105
HOMB	Home Bancshares Inc	53,818 (+25.0%)	$1,495 (+22.7%)	0.2%	$25.66	+8.1%	COM	436893200
HD	Home Depot Inc.	20,792 (+13.6%)	$7,155 (-3.5%)	1.1%	$288.77	+26.3%	COM	437076102
DUK	Duke Energy Corp.	63,317 (+2.6%)	$7,421 (-2.8%)	1.1%	$110.75	+9.8%	COM NEW	26441C204
MGRC	McGrath Rentcorp	3,422 (+133.7%)	$359 (+109.1%)	0.1%	$107.71	+0.6%	COM	580589109
VVV	Valvoline Inc	27,672 (+2.2%)	$804 (-17.3%)	0.1%	$31.80	+1.0%	COM	92047W101
SNA	Snap-on Inc.	23,028 (+2.5%)	$7,935 (+1.9%)	1.2%	$172.27	+97.6%	COM	833034101
KHC	Kraft Heinz Co	259,473 (+9.8%)	$6,292 (+2.3%)	0.9%	$29.84	-17.5%	COM	500754106
AFL	Aflac Inc.	66,164 (+2.4%)	$7,296 (+1.1%)	1.1%	$56.68	+93.8%	COM	001055102
SLM	SLM CORP	38,591 (+11.0%)	$1,044 (+8.5%)	0.2%	$15.81	+73.4%	COM	78442P106
SPG	Simon Property Group Inc.	40,756 (+2.4%)	$7,544 (+1.0%)	1.1%	$106.58	+68.9%	COM	828806109
ROCK	Gibraltar Industries Inc.	17,580 (+16.8%)	$869 (-8.0%)	0.1%	$59.28	-3.3%	COM	374689107
ALG	Alamo Group Inc.	4,556 (+4.2%)	$765 (-8.4%)	0.1%	$145.24	+19.6%	COM	011311107
AGM	Federal Agricultural Mortgage Corp.	6,000 (+2.1%)	$1,053 (+6.8%)	0.2%	$170.88	-2.2%	CLASS A	313148306
FISV	Fiserv Inc.	100,415 (+93.1%)	$6,745 (+0.6%)	1.0%	$105.83	-20.8%	COM	337738108
HSY	Hershey Company	34,271 (+2.5%)	$6,237 (-0.2%)	0.9%	$177.17	+2.8%	COM	427866108
OLLI	Ollies Bargain Outlet Holdings Inc	6,619 (+17.9%)	$726 (+0.6%)	0.1%	$90.13	+33.8%	COM	681116109

Exited Positions (7)

— Interpublic Group Of Cos. Inc. 1.0%

Value ($000) $6,752 Shares 241,916 Est. Cost $26.26 Unrealized -1.1%

— Amcor Plc 0.7%

Value ($000) $4,822 Shares 589,491 Est. Cost $9.15 Unrealized -9.8%

INTC Intel Corp. 0.4%

Value ($000) $2,575 Shares 76,766 Est. Cost $28.68 Unrealized +31.7%

EFSC Enterprise Financial Services Corp. 0.1%

Value ($000) $845 Shares 14,567 Est. Cost $57.59 Unrealized -5.1%

NGVT Ingevity Corp 0.1%

Value ($000) $570 Shares 10,334 Est. Cost $52.56 Unrealized +3.3%

WKC World Kinect Corp 0.0%

Value ($000) $186 Shares 7,153 Est. Cost $30.48 Unrealized -19.1%

STRL Sterling Infrastructure Inc 0.0%

Value ($000) $151 Shares 445 Est. Cost $140.77 Unrealized +144.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	Interpublic Group Of Cos. Inc.	241,916	$6,752	1.0%	$26.26	-1.1%	—	460690100
—	Amcor Plc	589,491	$4,822	0.7%	$9.15	-9.8%	—	G0250X107
INTC	Intel Corp.	76,766	$2,575	0.4%	$28.68	+31.7%	—	458140100
EFSC	Enterprise Financial Services Corp.	14,567	$845	0.1%	$57.59	-5.1%	—	293712105
NGVT	Ingevity Corp	10,334	$570	0.1%	$52.56	+3.3%	—	45688C107
WKC	World Kinect Corp	7,153	$186	0.0%	$30.48	-19.1%	—	981475106
STRL	Sterling Infrastructure Inc	445	$151	0.0%	$140.77	+144.7%	—	859241101

Decreased Positions (40)

MPC Marathon Petroleum Corp 0.8%

Value ($000) $5,101 (-23.7%) Shares 31,364 (-9.6%) Est. Cost $71.31 Unrealized +161.4%

AMAT Applied Materials Inc. 1.1%

Value ($000) $7,164 (-11.0%) Shares 27,878 (-29.1%) Est. Cost $159.52 Unrealized +50.1%

IBM International Business Machines Corp. 1.0%

Value ($000) $6,664 (-11.0%) Shares 22,499 (-15.2%) Est. Cost $123.64 Unrealized +141.6%

DG Dollar General Corp. 1.1%

Value ($000) $7,648 (+11.2%) Shares 57,603 (-13.4%) Est. Cost $124.90 Unrealized -10.7%

STT State Street Corp. 1.2%

Value ($000) $7,963 (-8.4%) Shares 61,724 (-17.7%) Est. Cost $61.03 Unrealized +94.9%

C Citigroup Inc 1.5%

Value ($000) $10,190 (+5.8%) Shares 87,329 (-7.9%) Est. Cost $43.93 Unrealized +135.9%

AEP American Electric Power Company Inc. 1.1%

Value ($000) $7,282 (-6.0%) Shares 63,149 (-8.3%) Est. Cost $87.55 Unrealized +34.4%

JPM JPMorgan Chase & Co. 1.4%

Value ($000) $9,161 (-4.7%) Shares 28,430 (-6.8%) Est. Cost $98.19 Unrealized +215.3%

CSCO Cisco Systems Inc. 1.0%

Value ($000) $7,002 (+7.0%) Shares 90,900 (-5.0%) Est. Cost $33.40 Unrealized +121.0%

COF Capital One Financial Corp. 1.2%

Value ($000) $7,815 (+5.9%) Shares 32,245 (-7.1%) Est. Cost $96.34 Unrealized +130.6%

MDT Medtronic Plc 1.1%

Value ($000) $7,239 (-5.5%) Shares 75,355 (-6.3%) Est. Cost $82.62 Unrealized +17.6%

CACI Caci International Inc. 0.1%

Value ($000) $891 (-31.3%) Shares 1,673 (-35.7%) Est. Cost $339.06 Unrealized +66.7%

ABBV Abbvie Inc 1.0%

Value ($000) $6,976 (-5.3%) Shares 30,531 (-4.0%) Est. Cost $102.54 Unrealized +121.9%

LMT Lockheed Martin Corp. 1.2%

Value ($000) $8,130 (-4.3%) Shares 16,809 (-1.2%) Est. Cost $396.49 Unrealized +20.1%

MKSI MKS Instruments Inc. 0.1%

Value ($000) $1,008 (-21.6%) Shares 6,310 (-39.3%) Est. Cost $97.48 Unrealized +52.0%

COR Cencora, Inc 1.1%

Value ($000) $7,465 (+3.7%) Shares 22,103 (-4.0%) Est. Cost $230.87 Unrealized +47.5%

GTLS Chart Industries Inc 0.1%

Value ($000) $385 (-39.9%) Shares 1,865 (-41.6%) Est. Cost $168.84 Unrealized +20.0%

WCC Wesco International Inc. 0.1%

Value ($000) $669 (-24.9%) Shares 2,734 (-35.1%) Est. Cost $160.67 Unrealized +52.4%

NMIH NMI Holdings Inc 0.1%

Value ($000) $845 (-15.1%) Shares 20,709 (-20.2%) Est. Cost $27.76 Unrealized +36.2%

RRX Regal Rexnord Corp 0.1%

Value ($000) $1,008 (-12.8%) Shares 7,182 (-10.9%) Est. Cost $138.96 Unrealized +2.4%

HCA HCA Healthcare Inc 1.1%

Value ($000) $7,580 (+2.0%) Shares 16,237 (-6.9%) Est. Cost $210.65 Unrealized +120.1%

CW Curtiss-Wright Corp. 0.1%

Value ($000) $347 (-28.0%) Shares 630 (-29.1%) Est. Cost $213.63 Unrealized +161.0%

EVR Evercore Inc 0.1%

Value ($000) $938 (-12.1%) Shares 2,757 (-12.9%) Est. Cost $89.72 Unrealized +257.7%

WHD Cactus Inc 0.2%

Value ($000) $1,250 (+11.5%) Shares 27,354 (-3.6%) Est. Cost $41.97 Unrealized -0.4%

HUBB Hubbell Inc. 1.1%

Value ($000) $7,578 (-1.4%) Shares 17,064 (-4.5%) Est. Cost $200.76 Unrealized +117.8%

PRG PROG Holdings Inc 0.1%

Value ($000) $576 (-14.2%) Shares 19,518 (-5.9%) Est. Cost $42.26 Unrealized -29.6%

PRGS Progress Software Corp. 0.2%

Value ($000) $1,101 (-7.9%) Shares 25,626 (-5.8%) Est. Cost $48.88 Unrealized -10.8%

STAG STAG Industrial Inc 0.1%

Value ($000) $687 (-10.8%) Shares 18,686 (-14.3%) Est. Cost $35.30 Unrealized —

NSA National Storage Affiliates Trust 0.1%

Value ($000) $561 (-12.1%) Shares 19,878 (-5.9%) Est. Cost $37.88 Unrealized —

CVS CVS Health Corp 1.1%

Value ($000) $7,474 (-1.0%) Shares 94,175 (-6.0%) Est. Cost $60.57 Unrealized +29.9%

OSBC Old Second Bancorporation Inc. 0.2%

Value ($000) $1,136 (+6.6%) Shares 58,241 (-5.5%) Est. Cost $15.79 Unrealized +17.8%

HBAN Huntington Bancshares Inc. 1.2%

Value ($000) $8,016 (-0.8%) Shares 462,017 (-1.3%) Est. Cost $15.45 Unrealized +5.5%

BC Brunswick Corp. 0.1%

Value ($000) $871 (-6.2%) Shares 11,732 (-20.1%) Est. Cost $66.04 Unrealized +2.2%

— LXP Industrial Trust 0.1%

Value ($000) $725 (+8.5%) Shares 14,618 (-80.4%) Est. Cost $8.92 Unrealized —

ENS Enersys 0.1%

Value ($000) $849 (-3.8%) Shares 5,786 (-25.9%) Est. Cost $79.24 Unrealized +68.3%

IOSP Innospec Inc 0.0%

Value ($000) $330 (-6.8%) Shares 4,316 (-6.0%) Est. Cost $72.43 Unrealized +3.6%

BRC Brady Corp. 0.2%

Value ($000) $1,145 (-1.5%) Shares 14,612 (-1.9%) Est. Cost $71.29 Unrealized +8.2%

KNX Knight-Swift Transportation Holdings Inc 0.1%

Value ($000) $668 (-1.3%) Shares 12,775 (-25.4%) Est. Cost $45.96 Unrealized +1.7%

AVA Avista Corp. 0.0%

Value ($000) $175 (-4.2%) Shares 4,538 (-6.0%) Est. Cost $34.87 Unrealized +11.2%

MTB M & T Bank Corp 1.2%

Value ($000) $8,009 (-0.0%) Shares 39,752 (-2.0%) Est. Cost $127.80 Unrealized +48.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MPC	Marathon Petroleum Corp	31,364 (-9.6%)	$5,101 (-23.7%)	0.8%	$71.31	+161.4%	COM	56585A102
AMAT	Applied Materials Inc.	27,878 (-29.1%)	$7,164 (-11.0%)	1.1%	$159.52	+50.1%	COM	038222105
IBM	International Business Machines Corp.	22,499 (-15.2%)	$6,664 (-11.0%)	1.0%	$123.64	+141.6%	COM	459200101
DG	Dollar General Corp.	57,603 (-13.4%)	$7,648 (+11.2%)	1.1%	$124.90	-10.7%	COM	256677105
STT	State Street Corp.	61,724 (-17.7%)	$7,963 (-8.4%)	1.2%	$61.03	+94.9%	COM	857477103
C	Citigroup Inc	87,329 (-7.9%)	$10,190 (+5.8%)	1.5%	$43.93	+135.9%	COM NEW	172967424
AEP	American Electric Power Company Inc.	63,149 (-8.3%)	$7,282 (-6.0%)	1.1%	$87.55	+34.4%	COM	025537101
JPM	JPMorgan Chase & Co.	28,430 (-6.8%)	$9,161 (-4.7%)	1.4%	$98.19	+215.3%	COM	46625H100
CSCO	Cisco Systems Inc.	90,900 (-5.0%)	$7,002 (+7.0%)	1.0%	$33.40	+121.0%	COM	17275R102
COF	Capital One Financial Corp.	32,245 (-7.1%)	$7,815 (+5.9%)	1.2%	$96.34	+130.6%	COM	14040H105
MDT	Medtronic Plc	75,355 (-6.3%)	$7,239 (-5.5%)	1.1%	$82.62	+17.6%	SHS	G5960L103
CACI	Caci International Inc.	1,673 (-35.7%)	$891 (-31.3%)	0.1%	$339.06	+66.7%	CL A	127190304
ABBV	Abbvie Inc	30,531 (-4.0%)	$6,976 (-5.3%)	1.0%	$102.54	+121.9%	COM	00287Y109
LMT	Lockheed Martin Corp.	16,809 (-1.2%)	$8,130 (-4.3%)	1.2%	$396.49	+20.1%	COM	539830109
MKSI	MKS Instruments Inc.	6,310 (-39.3%)	$1,008 (-21.6%)	0.1%	$97.48	+52.0%	COM	55306N104
COR	Cencora, Inc	22,103 (-4.0%)	$7,465 (+3.7%)	1.1%	$230.87	+47.5%	COM	03073E105
GTLS	Chart Industries Inc	1,865 (-41.6%)	$385 (-39.9%)	0.1%	$168.84	+20.0%	COM	16115Q308
WCC	Wesco International Inc.	2,734 (-35.1%)	$669 (-24.9%)	0.1%	$160.67	+52.4%	COM	95082P105
NMIH	NMI Holdings Inc	20,709 (-20.2%)	$845 (-15.1%)	0.1%	$27.76	+36.2%	CL A	629209305
RRX	Regal Rexnord Corp	7,182 (-10.9%)	$1,008 (-12.8%)	0.1%	$138.96	+2.4%	COM	758750103
HCA	HCA Healthcare Inc	16,237 (-6.9%)	$7,580 (+2.0%)	1.1%	$210.65	+120.1%	COM	40412C101
CW	Curtiss-Wright Corp.	630 (-29.1%)	$347 (-28.0%)	0.1%	$213.63	+161.0%	COM	231561101
EVR	Evercore Inc	2,757 (-12.9%)	$938 (-12.1%)	0.1%	$89.72	+257.7%	CLASS A	29977A105
WHD	Cactus Inc	27,354 (-3.6%)	$1,250 (+11.5%)	0.2%	$41.97	-0.4%	CL A	127203107
HUBB	Hubbell Inc.	17,064 (-4.5%)	$7,578 (-1.4%)	1.1%	$200.76	+117.8%	COM	443510607
PRG	PROG Holdings Inc	19,518 (-5.9%)	$576 (-14.2%)	0.1%	$42.26	-29.6%	COM NPV	74319R101
PRGS	Progress Software Corp.	25,626 (-5.8%)	$1,101 (-7.9%)	0.2%	$48.88	-10.8%	COM	743312100
STAG	STAG Industrial Inc	18,686 (-14.3%)	$687 (-10.8%)	0.1%	$35.30	—	COM	85254J102
NSA	National Storage Affiliates Trust	19,878 (-5.9%)	$561 (-12.1%)	0.1%	$37.88	—	COM SHS BEN IN	637870106
CVS	CVS Health Corp	94,175 (-6.0%)	$7,474 (-1.0%)	1.1%	$60.57	+29.9%	COM	126650100
OSBC	Old Second Bancorporation Inc.	58,241 (-5.5%)	$1,136 (+6.6%)	0.2%	$15.79	+17.8%	COM	680277100
HBAN	Huntington Bancshares Inc.	462,017 (-1.3%)	$8,016 (-0.8%)	1.2%	$15.45	+5.5%	COM	446150104
BC	Brunswick Corp.	11,732 (-20.1%)	$871 (-6.2%)	0.1%	$66.04	+2.2%	COM	117043109
—	LXP Industrial Trust	14,618 (-80.4%)	$725 (+8.5%)	0.1%	$8.92	—	COM	529043101
ENS	Enersys	5,786 (-25.9%)	$849 (-3.8%)	0.1%	$79.24	+68.3%	COM	29275Y102
IOSP	Innospec Inc	4,316 (-6.0%)	$330 (-6.8%)	0.0%	$72.43	+3.6%	COM	45768S105
BRC	Brady Corp.	14,612 (-1.9%)	$1,145 (-1.5%)	0.2%	$71.29	+8.2%	Cl A	104674106
KNX	Knight-Swift Transportation Holdings Inc	12,775 (-25.4%)	$668 (-1.3%)	0.1%	$45.96	+1.7%	CL A	499049104
AVA	Avista Corp.	4,538 (-6.0%)	$175 (-4.2%)	0.0%	$34.87	+11.2%	COM	05379B107
MTB	M & T Bank Corp	39,752 (-2.0%)	$8,009 (-0.0%)	1.2%	$127.80	+48.7%	COM	55261F104

Unchanged Positions (5)

RYAAY RYANAIR HOLDINGS PLC-SP ADR 10.2%

Value ($000) $68,548 Shares 949,550 Est. Cost $79.25 Unrealized —

TSM Taiwan Semiconductor Manufacturing 10.6%

Value ($000) $71,567 Shares 235,503 Est. Cost $125.04 Unrealized —

HDB HDFC Bank Ltd. 8.1%

Value ($000) $54,627 Shares 1,495,000 Est. Cost $49.17 Unrealized —

IBCP Independent Bank Corporation (Ionia MI) 0.2%

Value ($000) $1,127 Shares 34,655 Est. Cost $26.64 Unrealized +19.3%

EXLS Exlservice Hldgs Inc 0.1%

Value ($000) $998 Shares 23,511 Est. Cost $45.13 Unrealized -9.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RYAAY	RYANAIR HOLDINGS PLC-SP ADR	949,550	$68,548	10.2%	$79.25	—	SPONSORED ADS	783513203
TSM	Taiwan Semiconductor Manufacturing	235,503	$71,567	10.6%	$125.04	—	SPONSORED ADS	874039100
HDB	HDFC Bank Ltd.	1,495,000	$54,627	8.1%	$49.17	—	SPONSORED ADS	40415F101
IBCP	Independent Bank Corporation (Ionia MI)	34,655	$1,127	0.2%	$26.64	+19.3%	COM	453838609
EXLS	Exlservice Hldgs Inc	23,511	$998	0.1%	$45.13	-9.4%	COM	302081104