DELPHI MANAGEMENT INC /MA/ Diversified Active

CIK: 0000767684 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Jan 21, 2026

Total Value ($000): $103 (100.0% shares, 0.0% debt)

Holdings (76)

New Positions (6)

MTB M AND T BANK CORP 1.5%

Value ($000) $2 Shares 7,566 Est. Cost $190.09 Unrealized 0.0%

CCK CROWN HLDGS INC 1.5%

Value ($000) $1 Shares 14,530 Est. Cost $97.34 Unrealized 0.0%

AMTM AMENTUM HOLDINGS INC 1.4%

Value ($000) $1 Shares 49,094 Est. Cost $25.56 Unrealized 0.0%

TRV TRAVELERS COMPANIES 1.3%

Value ($000) $1 Shares 4,603 Est. Cost $280.61 Unrealized 0.0%

TRNO TERRENO REALTY CORP 1.2%

Value ($000) $1 Shares 21,084 Est. Cost $0.06 Unrealized —

EXE EXPAND ENERGY CORPORATION 0.4%

Value ($000) $0 Shares 3,754 Est. Cost $110.64 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MTB	M AND T BANK CORP	7,566	$2	1.5%	$190.09	0.0%	COM	55261F104
CCK	CROWN HLDGS INC	14,530	$1	1.5%	$97.34	0.0%	COM	228368106
AMTM	AMENTUM HOLDINGS INC	49,094	$1	1.4%	$25.56	0.0%	COM	023939101
TRV	TRAVELERS COMPANIES	4,603	$1	1.3%	$280.61	0.0%	COM	89417E109
TRNO	TERRENO REALTY CORP	21,084	$1	1.2%	$0.06	—	COM	88146M101
EXE	EXPAND ENERGY CORPORATION	3,754	$0	0.4%	$110.64	0.0%	COM	165167735

Increased Positions (22)

STLD STEEL DYNAMICS INC 1.3%

Value ($000) $1 (+506.6%) Shares 8,161 (+399.1%) Est. Cost $151.98 Unrealized +4.2%

SMP STANDARD MOTOR PRODUCTS INC 1.2%

Value ($000) $1 (+448.1%) Shares 34,661 (+506.3%) Est. Cost $38.09 Unrealized +0.8%

CB CHUBB LIMITED 1.6%

Value ($000) $2 (+25.2%) Shares 5,184 (+13.3%) Est. Cost $139.56 Unrealized +109.5%

CAKE CHEESECAKE FACTORY INC 1.5%

Value ($000) $1 (+19.9%) Shares 29,586 (+29.7%) Est. Cost $35.35 Unrealized +41.5%

INGR INGREDION INC 1.4%

Value ($000) $1 (+15.3%) Shares 13,056 (+27.6%) Est. Cost $111.42 Unrealized +1.2%

BATRK ATLANTA BRAVES HOLDINGS INC 1.4%

Value ($000) $1 (+12.1%) Shares 35,655 (+18.2%) Est. Cost $38.36 Unrealized +3.1%

NXST NEXSTAR MEDIA 1.4%

Value ($000) $1 (+11.2%) Shares 7,220 (+8.3%) Est. Cost $127.10 Unrealized +51.7%

TTAM TITAN AMERICA SA 0.4%

Value ($000) $0 (+44.4%) Shares 27,615 (+31.0%) Est. Cost $14.97 Unrealized +4.6%

EOG EOG RESOURCES 1.2%

Value ($000) $1 (+10.9%) Shares 11,619 (+18.4%) Est. Cost $80.70 Unrealized +32.9%

ARW ARROW ELECTRS INC COM 1.3%

Value ($000) $1 (+10.0%) Shares 11,957 (+20.9%) Est. Cost $63.58 Unrealized +78.7%

HIG HARTFORD INSURANCE GROUP 1.4%

Value ($000) $1 (+7.6%) Shares 10,794 (+4.2%) Est. Cost $123.26 Unrealized +6.7%

LH LABORATORY CORP. OF AMERICA 1.4%

Value ($000) $1 (-6.9%) Shares 5,662 (+6.5%) Est. Cost $241.80 Unrealized +9.7%

STAG STAG INDUSTRIAL 1.4%

Value ($000) $1 (+5.9%) Shares 39,622 (+1.6%) Est. Cost $15.39 Unrealized —

DIS DISNEY WALT CO COM 1.5%

Value ($000) $2 (+5.7%) Shares 13,220 (+6.4%) Est. Cost $88.47 Unrealized +23.8%

DELL DELL TECHNOLOGIES INC 1.4%

Value ($000) $1 (-4.5%) Shares 11,583 (+7.6%) Est. Cost $115.85 Unrealized +21.5%

HTGC HERCULES CAPITAL INC 1.4%

Value ($000) $1 (+4.7%) Shares 78,512 (+5.1%) Est. Cost $13.87 Unrealized +30.0%

EG EVEREST GROUP LTD 1.2%

Value ($000) $1 (+4.2%) Shares 3,729 (+7.6%) Est. Cost $352.65 Unrealized -6.4%

EXP EAGLE MATERIALS INC 1.2%

Value ($000) $1 (-2.9%) Shares 5,843 (+9.5%) Est. Cost $179.26 Unrealized +23.0%

SSNC SS AND C TECHNOLOGIES HOLDINGS INC 1.5%

Value ($000) $2 (+2.0%) Shares 17,888 (+3.6%) Est. Cost $62.88 Unrealized +35.6%

THG HANOVER GROUP INSURANCE 1.4%

Value ($000) $1 (+1.9%) Shares 7,799 (+1.3%) Est. Cost $158.99 Unrealized +12.7%

FAF FIRST AMERICAN FINANCIAL CORP 1.4%

Value ($000) $1 (-1.3%) Shares 22,910 (+3.1%) Est. Cost $58.81 Unrealized +6.0%

GBDC GOLUB CAPITAL BDC 0.4%

Value ($000) $0 (+0.7%) Shares 30,677 (+1.7%) Est. Cost $10.69 Unrealized +26.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
STLD	STEEL DYNAMICS INC	8,161 (+399.1%)	$1 (+506.6%)	1.3%	$151.98	+4.2%	COM	858119100
SMP	STANDARD MOTOR PRODUCTS INC	34,661 (+506.3%)	$1 (+448.1%)	1.2%	$38.09	+0.8%	COM	853666105
CB	CHUBB LIMITED	5,184 (+13.3%)	$2 (+25.2%)	1.6%	$139.56	+109.5%	COM	H1467J104
CAKE	CHEESECAKE FACTORY INC	29,586 (+29.7%)	$1 (+19.9%)	1.5%	$35.35	+41.5%	COM	163072101
INGR	INGREDION INC	13,056 (+27.6%)	$1 (+15.3%)	1.4%	$111.42	+1.2%	COM	457187102
BATRK	ATLANTA BRAVES HOLDINGS INC	35,655 (+18.2%)	$1 (+12.1%)	1.4%	$38.36	+3.1%	SER C	047726302
NXST	NEXSTAR MEDIA	7,220 (+8.3%)	$1 (+11.2%)	1.4%	$127.10	+51.7%	COM	65336K103
TTAM	TITAN AMERICA SA	27,615 (+31.0%)	$0 (+44.4%)	0.4%	$14.97	+4.6%	COM	B9151N105
EOG	EOG RESOURCES	11,619 (+18.4%)	$1 (+10.9%)	1.2%	$80.70	+32.9%	COM	26875P101
ARW	ARROW ELECTRS INC COM	11,957 (+20.9%)	$1 (+10.0%)	1.3%	$63.58	+78.7%	COM	042735100
HIG	HARTFORD INSURANCE GROUP	10,794 (+4.2%)	$1 (+7.6%)	1.4%	$123.26	+6.7%	COM	416515104
LH	LABORATORY CORP. OF AMERICA	5,662 (+6.5%)	$1 (-6.9%)	1.4%	$241.80	+9.7%	COM	504922105
STAG	STAG INDUSTRIAL	39,622 (+1.6%)	$1 (+5.9%)	1.4%	$15.39	—	COM	85254J102
DIS	DISNEY WALT CO COM	13,220 (+6.4%)	$2 (+5.7%)	1.5%	$88.47	+23.8%	COM	254687106
DELL	DELL TECHNOLOGIES INC	11,583 (+7.6%)	$1 (-4.5%)	1.4%	$115.85	+21.5%	CL C	24703L202
HTGC	HERCULES CAPITAL INC	78,512 (+5.1%)	$1 (+4.7%)	1.4%	$13.87	+30.0%	COM	427096508
EG	EVEREST GROUP LTD	3,729 (+7.6%)	$1 (+4.2%)	1.2%	$352.65	-6.4%	COM	G3223R108
EXP	EAGLE MATERIALS INC	5,843 (+9.5%)	$1 (-2.9%)	1.2%	$179.26	+23.0%	COM	26969P108
SSNC	SS AND C TECHNOLOGIES HOLDINGS INC	17,888 (+3.6%)	$2 (+2.0%)	1.5%	$62.88	+35.6%	COM	78467J100
THG	HANOVER GROUP INSURANCE	7,799 (+1.3%)	$1 (+1.9%)	1.4%	$158.99	+12.7%	COM	410867105
FAF	FIRST AMERICAN FINANCIAL CORP	22,910 (+3.1%)	$1 (-1.3%)	1.4%	$58.81	+6.0%	COM	31847R102
GBDC	GOLUB CAPITAL BDC	30,677 (+1.7%)	$0 (+0.7%)	0.4%	$10.69	+26.7%	COM	38173M102

Exited Positions (11)

DOX AMDOCS LTD. 1.4%

Value ($000) $1 Shares 17,624 Est. Cost $81.71 Unrealized -2.2%

ORCL ORACLE 1.4%

Value ($000) $1 Shares 5,054 Est. Cost $77.55 Unrealized +207.0%

FISV FISERV INC. 1.4%

Value ($000) $1 Shares 10,843 Est. Cost $129.16 Unrealized -35.1%

— REV GROUP INC 1.3%

Value ($000) $1 Shares 23,720 Est. Cost $0.05 Unrealized —

LEN LENNAR CORP CL A 1.3%

Value ($000) $1 Shares 10,605 Est. Cost $74.52 Unrealized +62.0%

NICE NICE LTD SPONSORED ADR 1.3%

Value ($000) $1 Shares 9,065 Est. Cost $0.16 Unrealized —

NSIT INSIGHT ENTERPRISES 1.2%

Value ($000) $1 Shares 11,230 Est. Cost $130.12 Unrealized -27.9%

CBT CABOT CORP 1.2%

Value ($000) $1 Shares 15,714 Est. Cost $77.36 Unrealized -14.3%

FANG DIAMONDBACK ENERGY 1.1%

Value ($000) $1 Shares 7,706 Est. Cost $85.30 Unrealized +72.4%

MTDR MATADOR RESOURCE CO 1.0%

Value ($000) $1 Shares 22,260 Est. Cost $58.71 Unrealized -28.5%

MNR MACH NATURAL RESOURCES LP 0.2%

Value ($000) $0 Shares 12,240 Est. Cost $0.01 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DOX	AMDOCS LTD.	17,624	$1	1.4%	$81.71	-2.2%	—	G02602103
ORCL	ORACLE	5,054	$1	1.4%	$77.55	+207.0%	—	68389X105
FISV	FISERV INC.	10,843	$1	1.4%	$129.16	-35.1%	—	337738108
—	REV GROUP INC	23,720	$1	1.3%	$0.05	—	—	749527107
LEN	LENNAR CORP CL A	10,605	$1	1.3%	$74.52	+62.0%	—	526057104
NICE	NICE LTD SPONSORED ADR	9,065	$1	1.3%	$0.16	—	—	653656108
NSIT	INSIGHT ENTERPRISES	11,230	$1	1.2%	$130.12	-27.9%	—	45765U103
CBT	CABOT CORP	15,714	$1	1.2%	$77.36	-14.3%	—	127055101
FANG	DIAMONDBACK ENERGY	7,706	$1	1.1%	$85.30	+72.4%	—	25278X109
MTDR	MATADOR RESOURCE CO	22,260	$1	1.0%	$58.71	-28.5%	—	576485205
MNR	MACH NATURAL RESOURCES LP	12,240	$0	0.2%	$0.01	—	—	55445L100

Decreased Positions (43)

KBR KBR INC 0.4%

Value ($000) $0 (-68.7%) Shares 10,980 (-63.2%) Est. Cost $51.02 Unrealized -16.2%

OMC OMNICOM GROUP INC 0.5%

Value ($000) $0 (-59.4%) Shares 6,059 (-59.0%) Est. Cost $85.87 Unrealized -11.8%

PRGS PROGRESS SOFTWARE CORP 0.3%

Value ($000) $0 (-62.2%) Shares 8,251 (-61.3%) Est. Cost $53.71 Unrealized -18.8%

KLAC KLA CORP COM 1.2%

Value ($000) $1 (-32.3%) Shares 974 (-39.9%) Est. Cost $141.51 Unrealized +728.1%

LRCX LAM RESEARCH CORP 1.3%

Value ($000) $1 (-20.7%) Shares 7,763 (-38.0%) Est. Cost $78.11 Unrealized +98.9%

AZO AUTOZONE INC 0.8%

Value ($000) $1 (-29.2%) Shares 232 (-10.4%) Est. Cost $1615.83 Unrealized +133.8%

AMAT APPLIED MATLS INC COM 1.3%

Value ($000) $1 (-17.5%) Shares 5,340 (-34.2%) Est. Cost $95.31 Unrealized +151.3%

DHI D R HORTON INC COM 1.2%

Value ($000) $1 (-16.6%) Shares 8,800 (-1.9%) Est. Cost $56.37 Unrealized +169.7%

NFG NATIONAL FUEL GAS CO 1.3%

Value ($000) $1 (-14.6%) Shares 17,141 (-1.5%) Est. Cost $71.92 Unrealized +14.6%

SNX TD SYNNEX CORP 1.4%

Value ($000) $1 (-13.6%) Shares 9,877 (-5.8%) Est. Cost $68.08 Unrealized +124.5%

ITRN ITURAN LOCATION AND CONTROL LTD. 1.5%

Value ($000) $2 (+17.4%) Shares 35,402 (-2.5%) Est. Cost $24.71 Unrealized +58.7%

WRB BERKLEY W R CORP 1.3%

Value ($000) $1 (-10.9%) Shares 19,426 (-2.6%) Est. Cost $41.28 Unrealized +76.2%

LDOS LEIDOS HOLDINGS INC 1.4%

Value ($000) $1 (-10.1%) Shares 7,933 (-5.8%) Est. Cost $138.27 Unrealized +36.8%

SDZNY SANDOZ GROUP AG SPONSORED ADS 1.6%

Value ($000) $2 (+10.5%) Shares 22,069 (-9.5%) Est. Cost $0.05 Unrealized —

EXPE EXPEDIA GROUP INC 1.6%

Value ($000) $2 (+9.7%) Shares 5,963 (-17.2%) Est. Cost $113.31 Unrealized +117.9%

ANF ABERCROMBIE AND FITCH CO 0.7%

Value ($000) $1 (+26.9%) Shares 5,575 (-13.8%) Est. Cost $107.66 Unrealized -18.8%

GHC GRAHAM HOLDINGS LTD 1.5%

Value ($000) $1 (-8.0%) Shares 1,364 (-1.4%) Est. Cost $593.32 Unrealized +79.8%

RNR RENAISSANCE RE HLDGS COM 1.4%

Value ($000) $1 (+9.5%) Shares 5,227 (-1.1%) Est. Cost $222.35 Unrealized +18.4%

ASX ASE TECHNOLOGIES CORP 1.5%

Value ($000) $2 (+8.7%) Shares 98,529 (-25.1%) Est. Cost $0.01 Unrealized —

USB US BANCORP DEL COM 1.5%

Value ($000) $2 (+8.4%) Shares 29,358 (-1.8%) Est. Cost $40.76 Unrealized +19.5%

SF STIFEL FINANCIAL 1.5%

Value ($000) $2 (+7.6%) Shares 12,494 (-2.5%) Est. Cost $56.27 Unrealized +112.5%

FLEX FLEX LTD 1.4%

Value ($000) $1 (-6.2%) Shares 24,491 (-10.0%) Est. Cost $17.21 Unrealized +258.9%

TPR TAPESTRY INC 1.6%

Value ($000) $2 (+5.5%) Shares 13,104 (-6.5%) Est. Cost $34.38 Unrealized +231.7%

RL RALPH LAUREN CORP 1.4%

Value ($000) $1 (-5.0%) Shares 4,186 (-15.7%) Est. Cost $111.91 Unrealized +203.8%

AZZ AZZ INC 1.4%

Value ($000) $1 (-5.0%) Shares 13,749 (-3.3%) Est. Cost $57.86 Unrealized +78.8%

BRK/B BERKSHIRE HATHAWAY INC CL B 2.5%

Value ($000) $3 (-2.9%) Shares 5,022 (-2.9%) Est. Cost $134.04 Unrealized +271.2%

ABBV ABBVIE INC 1.5%

Value ($000) $2 (-4.4%) Shares 6,720 (-3.0%) Est. Cost $84.86 Unrealized +168.1%

PUBGY PUBLICIS GROUPE 1.4%

Value ($000) $1 (+5.0%) Shares 56,439 (-2.2%) Est. Cost $0.03 Unrealized —

NVS NOVARTIS 1.6%

Value ($000) $2 (+4.5%) Shares 11,723 (-2.8%) Est. Cost $59.69 Unrealized —

AAPL APPLE 2.2%

Value ($000) $2 (+3.1%) Shares 8,124 (-3.4%) Est. Cost $72.66 Unrealized +269.3%

JHG JANUS HENDERSON 1.6%

Value ($000) $2 (+3.8%) Shares 33,562 (-3.0%) Est. Cost $42.30 Unrealized +4.6%

TOL TOLL BROTHERS INC COM 1.3%

Value ($000) $1 (-4.0%) Shares 9,994 (-2.0%) Est. Cost $81.08 Unrealized +67.4%

UNTY UNITY BANCORP INC 1.4%

Value ($000) $1 (+3.6%) Shares 28,362 (-2.1%) Est. Cost $41.65 Unrealized +19.3%

JBL JABIL CIRCUIT INC. 1.5%

Value ($000) $2 (+2.9%) Shares 6,914 (-2.0%) Est. Cost $56.92 Unrealized +274.7%

SANM SANMINA CORP 1.5%

Value ($000) $2 (+2.1%) Shares 10,277 (-21.7%) Est. Cost $68.50 Unrealized +115.5%

INCY INCYTE CORP 0.6%

Value ($000) $1 (+4.5%) Shares 6,179 (-10.3%) Est. Cost $69.26 Unrealized +39.7%

SNA SNAP-ON INC 1.2%

Value ($000) $1 (-1.7%) Shares 3,687 (-1.2%) Est. Cost $211.32 Unrealized +61.1%

JPM JP MORGAN CHASE AND CO 1.5%

Value ($000) $2 (-1.2%) Shares 4,845 (-3.3%) Est. Cost $100.15 Unrealized +209.1%

TXT TEXTRON INC. 1.5%

Value ($000) $2 (+1.0%) Shares 17,891 (-2.1%) Est. Cost $67.89 Unrealized +23.2%

GS GOLDMAN SACHS 1.6%

Value ($000) $2 (+0.9%) Shares 1,865 (-8.6%) Est. Cost $172.53 Unrealized +371.4%

MS MORGAN STANLEY 1.6%

Value ($000) $2 (+0.7%) Shares 8,980 (-9.8%) Est. Cost $45.97 Unrealized +262.1%

AXP AMERICAN EXPRESS 1.5%

Value ($000) $2 (+0.3%) Shares 4,179 (-10.0%) Est. Cost $158.80 Unrealized +124.8%

URBN URBAN OUTFITTERS INC 0.3%

Value ($000) $0 (+1.0%) Shares 4,005 (-4.1%) Est. Cost $60.05 Unrealized +17.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
KBR	KBR INC	10,980 (-63.2%)	$0 (-68.7%)	0.4%	$51.02	-16.2%	COM	48242W106
OMC	OMNICOM GROUP INC	6,059 (-59.0%)	$0 (-59.4%)	0.5%	$85.87	-11.8%	COM	681919106
PRGS	PROGRESS SOFTWARE CORP	8,251 (-61.3%)	$0 (-62.2%)	0.3%	$53.71	-18.8%	COM	743312100
KLAC	KLA CORP COM	974 (-39.9%)	$1 (-32.3%)	1.2%	$141.51	+728.1%	COM	482480100
LRCX	LAM RESEARCH CORP	7,763 (-38.0%)	$1 (-20.7%)	1.3%	$78.11	+98.9%	COM	512807306
AZO	AUTOZONE INC	232 (-10.4%)	$1 (-29.2%)	0.8%	$1615.83	+133.8%	COM	053332102
AMAT	APPLIED MATLS INC COM	5,340 (-34.2%)	$1 (-17.5%)	1.3%	$95.31	+151.3%	COM	038222105
DHI	D R HORTON INC COM	8,800 (-1.9%)	$1 (-16.6%)	1.2%	$56.37	+169.7%	COM	23331A109
NFG	NATIONAL FUEL GAS CO	17,141 (-1.5%)	$1 (-14.6%)	1.3%	$71.92	+14.6%	COM	636180101
SNX	TD SYNNEX CORP	9,877 (-5.8%)	$1 (-13.6%)	1.4%	$68.08	+124.5%	COM	87162W100
ITRN	ITURAN LOCATION AND CONTROL LTD.	35,402 (-2.5%)	$2 (+17.4%)	1.5%	$24.71	+58.7%	SHS	M6158M104
WRB	BERKLEY W R CORP	19,426 (-2.6%)	$1 (-10.9%)	1.3%	$41.28	+76.2%	COM	084423102
LDOS	LEIDOS HOLDINGS INC	7,933 (-5.8%)	$1 (-10.1%)	1.4%	$138.27	+36.8%	COM	525327102
SDZNY	SANDOZ GROUP AG SPONSORED ADS	22,069 (-9.5%)	$2 (+10.5%)	1.6%	$0.05	—	ADR	799926100
EXPE	EXPEDIA GROUP INC	5,963 (-17.2%)	$2 (+9.7%)	1.6%	$113.31	+117.9%	COM	30212P303
ANF	ABERCROMBIE AND FITCH CO	5,575 (-13.8%)	$1 (+26.9%)	0.7%	$107.66	-18.8%	CL A	002896207
GHC	GRAHAM HOLDINGS LTD	1,364 (-1.4%)	$1 (-8.0%)	1.5%	$593.32	+79.8%	CL B	384637104
RNR	RENAISSANCE RE HLDGS COM	5,227 (-1.1%)	$1 (+9.5%)	1.4%	$222.35	+18.4%	COM	G7496G103
ASX	ASE TECHNOLOGIES CORP	98,529 (-25.1%)	$2 (+8.7%)	1.5%	$0.01	—	ADR	00215W100
USB	US BANCORP DEL COM	29,358 (-1.8%)	$2 (+8.4%)	1.5%	$40.76	+19.5%	COM	902973304
SF	STIFEL FINANCIAL	12,494 (-2.5%)	$2 (+7.6%)	1.5%	$56.27	+112.5%	ADR	860630102
FLEX	FLEX LTD	24,491 (-10.0%)	$1 (-6.2%)	1.4%	$17.21	+258.9%	ORD	Y2573F102
TPR	TAPESTRY INC	13,104 (-6.5%)	$2 (+5.5%)	1.6%	$34.38	+231.7%	COM	876030107
RL	RALPH LAUREN CORP	4,186 (-15.7%)	$1 (-5.0%)	1.4%	$111.91	+203.8%	CL A	751212101
AZZ	AZZ INC	13,749 (-3.3%)	$1 (-5.0%)	1.4%	$57.86	+78.8%	COM	002474104
BRK/B	BERKSHIRE HATHAWAY INC CL B	5,022 (-2.9%)	$3 (-2.9%)	2.5%	$134.04	+271.2%	CL B	084670702
ABBV	ABBVIE INC	6,720 (-3.0%)	$2 (-4.4%)	1.5%	$84.86	+168.1%	COM	00287Y109
PUBGY	PUBLICIS GROUPE	56,439 (-2.2%)	$1 (+5.0%)	1.4%	$0.03	—	ADR	74463M106
NVS	NOVARTIS	11,723 (-2.8%)	$2 (+4.5%)	1.6%	$59.69	—	ADR	66987V109
AAPL	APPLE	8,124 (-3.4%)	$2 (+3.1%)	2.2%	$72.66	+269.3%	COM	037833100
JHG	JANUS HENDERSON	33,562 (-3.0%)	$2 (+3.8%)	1.6%	$42.30	+4.6%	SHS	G4474Y214
TOL	TOLL BROTHERS INC COM	9,994 (-2.0%)	$1 (-4.0%)	1.3%	$81.08	+67.4%	COM	889478103
UNTY	UNITY BANCORP INC	28,362 (-2.1%)	$1 (+3.6%)	1.4%	$41.65	+19.3%	COM	913290102
JBL	JABIL CIRCUIT INC.	6,914 (-2.0%)	$2 (+2.9%)	1.5%	$56.92	+274.7%	COM	466313103
SANM	SANMINA CORP	10,277 (-21.7%)	$2 (+2.1%)	1.5%	$68.50	+115.5%	COM	801056102
INCY	INCYTE CORP	6,179 (-10.3%)	$1 (+4.5%)	0.6%	$69.26	+39.7%	COM	45337C102
SNA	SNAP-ON INC	3,687 (-1.2%)	$1 (-1.7%)	1.2%	$211.32	+61.1%	COM	833034101
JPM	JP MORGAN CHASE AND CO	4,845 (-3.3%)	$2 (-1.2%)	1.5%	$100.15	+209.1%	COM	46625H100
TXT	TEXTRON INC.	17,891 (-2.1%)	$2 (+1.0%)	1.5%	$67.89	+23.2%	COM	883203101
GS	GOLDMAN SACHS	1,865 (-8.6%)	$2 (+0.9%)	1.6%	$172.53	+371.4%	COM	38141G104
MS	MORGAN STANLEY	8,980 (-9.8%)	$2 (+0.7%)	1.6%	$45.97	+262.1%	COM	617446448
AXP	AMERICAN EXPRESS	4,179 (-10.0%)	$2 (+0.3%)	1.5%	$158.80	+124.8%	COM	025816109
URBN	URBAN OUTFITTERS INC	4,005 (-4.1%)	$0 (+1.0%)	0.3%	$60.05	+17.8%	COM	917047102

Unchanged Positions (5)

CAC CAMDEN NATIONAL CORP 1.5%

Value ($000) $2 Shares 35,788 Est. Cost $39.27 Unrealized +1.5%

FR FIRST INDUSTRIAL REALTY TRUST 1.5%

Value ($000) $2 Shares 27,010 Est. Cost $0.05 Unrealized —

BHB BAR HARBOR BANKSHARES INC 1.3%

Value ($000) $1 Shares 43,583 Est. Cost $30.49 Unrealized -1.7%

BXSL BLACKSTONE SECD LENDING FD 1.2%

Value ($000) $1 Shares 45,939 Est. Cost $17.95 Unrealized +45.3%

ARCC ARES CAPITAL CORPORATION 1.2%

Value ($000) $1 Shares 63,422 Est. Cost $9.52 Unrealized +108.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CAC	CAMDEN NATIONAL CORP	35,788	$2	1.5%	$39.27	+1.5%	COM	133034108
FR	FIRST INDUSTRIAL REALTY TRUST	27,010	$2	1.5%	$0.05	—	COM	32054K103
BHB	BAR HARBOR BANKSHARES INC	43,583	$1	1.3%	$30.49	-1.7%	COM	066849100
BXSL	BLACKSTONE SECD LENDING FD	45,939	$1	1.2%	$17.95	+45.3%	COM	09261X102
ARCC	ARES CAPITAL CORPORATION	63,422	$1	1.2%	$9.52	+108.0%	COM	04010L103