CAMBIAR INVESTORS LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HON	HONEYWELL INTL INC	264,644	$51,629	2.3%	$195.03	0.0%	COM	438516106
PEP	PEPSICO INC	276,544	$39,690	1.8%	$145.91	0.0%	COM	713448108
FDX	FEDEX CORP	133,547	$38,576	1.7%	$261.56	0.0%	COM	31428X106
SW	SMURFIT WESTROCK PLC	402,410	$15,561	0.7%	$38.13	0.0%	SHS	G8267P108
ALC	ALCON AG	191,835	$15,119	0.7%	$77.00	0.0%	ORD SHS	H01301128
COO	COOPER COS INC	55,577	$4,555	0.2%	$74.85	0.0%	COM	216648501
SOLV	SOLVENTUM CORP	56,274	$4,459	0.2%	$76.59	0.0%	COM SHS	83444M101
CF	CF INDS HLDGS INC	53,871	$4,166	0.2%	$81.93	0.0%	COM	125269100
ICHR	ICHOR HOLDINGS	86,532	$1,595	0.1%	$18.54	0.0%	SHS	G4740B105
INGR	INGREDION INC	12,751	$1,406	0.1%	$112.78	0.0%	COM	457187102
EXP	EAGLE MATLS INC	6,393	$1,321	0.1%	$220.50	0.0%	COM	26969P108
AEG	AEGON LTD	63,600	$490	0.0%	$7.71	—	AMER REG 1 CERT	0076CA104
CNI	CANADIAN NATL RY CO	3,985	$394	0.0%	$96.14	0.0%	COM	136375102
VXF	VANGUARD INDEX FDS	1,272	$266	0.0%	$209.12	—	EXTEND MKT ETF	922908652
VEU	VANGUARD INTL EQUITY INDEX F	2,794	$206	0.0%	$73.56	—	ALLWRLD EX US	922042775
RMAX	RE MAX HLDGS INC	12,906	$98	0.0%	$8.11	0.0%	CL A	75524W108

Increased Positions (30)

MAS MASCO CORP 1.7%

Value ($000) $38,890 (+651.8%) Shares 612,832 (+733.9%) Est. Cost $62.88 Unrealized +3.0%

CME CME GROUP INC 2.5%

Value ($000) $56,339 (+40.0%) Shares 206,311 (+38.6%) Est. Cost $207.26 Unrealized +30.6%

AMRZ AMRIZE LTD 2.6%

Value ($000) $58,863 (+29.1%) Shares 1,088,435 (+15.9%) Est. Cost $51.00 Unrealized +0.0%

REGN REGENERON PHARMACEUTICALS 2.1%

Value ($000) $46,438 (+39.8%) Shares 60,163 (+1.8%) Est. Cost $659.80 Unrealized +2.9%

EFA ISHARES TR 0.9%

Value ($000) $19,799 (+155.3%) Shares 206,175 (+148.3%) Est. Cost $87.89 Unrealized —

TXN TEXAS INSTRS INC 2.4%

Value ($000) $54,816 (+25.9%) Shares 315,962 (+33.3%) Est. Cost $164.00 Unrealized +4.1%

CAMX ADVISORS INNER CIRCLE FD 0.6%

Value ($000) $12,385 (+622.0%) Shares 392,992 (+614.5%) Est. Cost $30.76 Unrealized —

BMY BRISTOL-MYERS SQUIBB CO 2.4%

Value ($000) $53,033 (+22.8%) Shares 983,176 (+2.7%) Est. Cost $54.06 Unrealized -12.1%

IWD ISHARES TR 1.7%

Value ($000) $37,270 (+31.2%) Shares 177,191 (+26.9%) Est. Cost $193.90 Unrealized —

UBER UBER TECHNOLOGIES INC 2.5%

Value ($000) $56,274 (-12.6%) Shares 688,700 (+4.8%) Est. Cost $58.85 Unrealized +53.0%

ABNB AIRBNB INC 2.3%

Value ($000) $52,430 (+12.9%) Shares 386,311 (+1.0%) Est. Cost $132.61 Unrealized -6.1%

AZN ASTRAZENECA PLC 1.1%

Value ($000) $25,386 (+22.2%) Shares 276,150 (+2.0%) Est. Cost $70.31 Unrealized —

TSEM TOWER SEMICONDUCTOR LTD 0.3%

Value ($000) $5,855 (+161.0%) Shares 49,864 (+60.7%) Est. Cost $56.34 Unrealized +71.0%

STZ CONSTELLATION BRANDS INC 1.5%

Value ($000) $34,045 (+11.3%) Shares 246,772 (+8.6%) Est. Cost $192.90 Unrealized -29.1%

UNP UNION PAC CORP 2.6%

Value ($000) $58,149 (+5.6%) Shares 251,379 (+7.9%) Est. Cost $192.37 Unrealized +18.2%

SAP SAP SE 0.6%

Value ($000) $12,582 (+23.0%) Shares 51,797 (+35.4%) Est. Cost $146.28 Unrealized —

COLD AMERICOLD REALTY TRUST INC 0.3%

Value ($000) $5,816 (+55.1%) Shares 452,272 (+47.6%) Est. Cost $23.15 Unrealized —

SHY ISHARES TR 0.2%

Value ($000) $4,078 (+101.2%) Shares 49,242 (+101.6%) Est. Cost $83.30 Unrealized —

NXPI NXP SEMICONDUCTORS N V 0.3%

Value ($000) $6,266 (+37.3%) Shares 28,869 (+44.1%) Est. Cost $199.16 Unrealized +7.3%

SYY SYSCO CORP 1.6%

Value ($000) $36,440 (+4.6%) Shares 494,509 (+16.8%) Est. Cost $66.26 Unrealized +13.9%

VTV VANGUARD INDEX FDS 0.1%

Value ($000) $1,748 (+189.3%) Shares 9,150 (+182.5%) Est. Cost $183.84 Unrealized —

VEA VANGUARD TAX-MANAGED FDS 0.0%

Value ($000) $762 (+234.7%) Shares 12,201 (+221.0%) Est. Cost $60.80 Unrealized —

ACVA ACV AUCTIONS INC 0.2%

Value ($000) $4,635 (-8.2%) Shares 577,884 (+13.4%) Est. Cost $14.68 Unrealized -44.9%

PHR PHREESIA INC 0.3%

Value ($000) $6,065 (+7.1%) Shares 358,474 (+48.9%) Est. Cost $23.82 Unrealized -13.4%

MGA MAGNA INTL INC 0.0%

Value ($000) $452 (+114.2%) Shares 8,475 (+90.4%) Est. Cost $46.23 Unrealized +5.7%

LAZ LAZARD INC 0.3%

Value ($000) $5,971 (+4.2%) Shares 122,970 (+13.2%) Est. Cost $42.76 Unrealized +16.7%

IEUR ISHARES TR 0.0%

Value ($000) $418 (+30.9%) Shares 5,886 (+25.6%) Est. Cost $67.43 Unrealized —

USFR WISDOMTREE TR 0.1%

Value ($000) $1,327 (+4.6%) Shares 26,370 (+4.5%) Est. Cost $50.30 Unrealized —

IVE ISHARES TR 0.0%

Value ($000) $275 (+24.6%) Shares 1,296 (+21.3%) Est. Cost $194.61 Unrealized —

OLED UNIVERSAL DISPLAY CORP 0.1%

Value ($000) $1,560 (+1.9%) Shares 13,360 (+25.4%) Est. Cost $110.69 Unrealized +16.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MAS	MASCO CORP	612,832 (+733.9%)	$38,890 (+651.8%)	1.7%	$62.88	+3.0%	COM	574599106
CME	CME GROUP INC	206,311 (+38.6%)	$56,339 (+40.0%)	2.5%	$207.26	+30.6%	COM	12572Q105
AMRZ	AMRIZE LTD	1,088,435 (+15.9%)	$58,863 (+29.1%)	2.6%	$51.00	+0.0%	SHS	H2927K103
REGN	REGENERON PHARMACEUTICALS	60,163 (+1.8%)	$46,438 (+39.8%)	2.1%	$659.80	+2.9%	COM	75886F107
EFA	ISHARES TR	206,175 (+148.3%)	$19,799 (+155.3%)	0.9%	$87.89	—	MSCI EAFE ETF	464287465
TXN	TEXAS INSTRS INC	315,962 (+33.3%)	$54,816 (+25.9%)	2.4%	$164.00	+4.1%	COM	882508104
CAMX	ADVISORS INNER CIRCLE FD	392,992 (+614.5%)	$12,385 (+622.0%)	0.6%	$30.76	—	CAMBIAR AGGRES	0075W0163
BMY	BRISTOL-MYERS SQUIBB CO	983,176 (+2.7%)	$53,033 (+22.8%)	2.4%	$54.06	-12.1%	COM	110122108
IWD	ISHARES TR	177,191 (+26.9%)	$37,270 (+31.2%)	1.7%	$193.90	—	RUS 1000 VAL ETF	464287598
UBER	UBER TECHNOLOGIES INC	688,700 (+4.8%)	$56,274 (-12.6%)	2.5%	$58.85	+53.0%	COM	90353T100
ABNB	AIRBNB INC	386,311 (+1.0%)	$52,430 (+12.9%)	2.3%	$132.61	-6.1%	COM CL A	009066101
AZN	ASTRAZENECA PLC	276,150 (+2.0%)	$25,386 (+22.2%)	1.1%	$70.31	—	SPONSORED ADR	046353108
TSEM	TOWER SEMICONDUCTOR LTD	49,864 (+60.7%)	$5,855 (+161.0%)	0.3%	$56.34	+71.0%	SHS NEW	M87915274
STZ	CONSTELLATION BRANDS INC	246,772 (+8.6%)	$34,045 (+11.3%)	1.5%	$192.90	-29.1%	CL A	21036P108
UNP	UNION PAC CORP	251,379 (+7.9%)	$58,149 (+5.6%)	2.6%	$192.37	+18.2%	COM	907818108
SAP	SAP SE	51,797 (+35.4%)	$12,582 (+23.0%)	0.6%	$146.28	—	SPON ADR	803054204
COLD	AMERICOLD REALTY TRUST INC	452,272 (+47.6%)	$5,816 (+55.1%)	0.3%	$23.15	—	COM	03064D108
SHY	ISHARES TR	49,242 (+101.6%)	$4,078 (+101.2%)	0.2%	$83.30	—	1 3 YR TREAS BD	464287457
NXPI	NXP SEMICONDUCTORS N V	28,869 (+44.1%)	$6,266 (+37.3%)	0.3%	$199.16	+7.3%	COM	N6596X109
SYY	SYSCO CORP	494,509 (+16.8%)	$36,440 (+4.6%)	1.6%	$66.26	+13.9%	COM	871829107
VTV	VANGUARD INDEX FDS	9,150 (+182.5%)	$1,748 (+189.3%)	0.1%	$183.84	—	VALUE ETF	922908744
VEA	VANGUARD TAX-MANAGED FDS	12,201 (+221.0%)	$762 (+234.7%)	0.0%	$60.80	—	VAN FTSE DEV MKT	921943858
ACVA	ACV AUCTIONS INC	577,884 (+13.4%)	$4,635 (-8.2%)	0.2%	$14.68	-44.9%	COM CL A	00091G104
PHR	PHREESIA INC	358,474 (+48.9%)	$6,065 (+7.1%)	0.3%	$23.82	-13.4%	COM	71944F106
MGA	MAGNA INTL INC	8,475 (+90.4%)	$452 (+114.2%)	0.0%	$46.23	+5.7%	COM	559222401
LAZ	LAZARD INC	122,970 (+13.2%)	$5,971 (+4.2%)	0.3%	$42.76	+16.7%	COM	52110M109
IEUR	ISHARES TR	5,886 (+25.6%)	$418 (+30.9%)	0.0%	$67.43	—	CORE MSCI EURO	46434V738
USFR	WISDOMTREE TR	26,370 (+4.5%)	$1,327 (+4.6%)	0.1%	$50.30	—	FLOATNG RAT TREA	97717Y527
IVE	ISHARES TR	1,296 (+21.3%)	$275 (+24.6%)	0.0%	$194.61	—	S&P 500 VAL ETF	464287408
OLED	UNIVERSAL DISPLAY CORP	13,360 (+25.4%)	$1,560 (+1.9%)	0.1%	$110.69	+16.8%	COM	91347P105

Exited Positions (10)

FLUT FLUTTER ENTMT PLC 3.5%

Value ($000) $77,460 Shares 304,962 Est. Cost $253.12 Unrealized -11.1%

TGT TARGET CORP 2.0%

Value ($000) $43,928 Shares 489,724 Est. Cost $93.48 Unrealized -2.0%

PPG PPG INDS INC 1.9%

Value ($000) $43,539 Shares 414,222 Est. Cost $126.51 Unrealized -20.9%

CNH CNH INDL N V 0.6%

Value ($000) $13,993 Shares 1,289,691 Est. Cost $10.78 Unrealized -7.4%

EPAM EPAM SYS INC 0.2%

Value ($000) $4,436 Shares 29,417 Est. Cost $231.29 Unrealized -22.9%

MOH MOLINA HEALTHCARE INC 0.1%

Value ($000) $3,314 Shares 17,316 Est. Cost $297.12 Unrealized -44.7%

— WNS HLDGS LTD 0.1%

Value ($000) $1,962 Shares 25,721 Est. Cost $50.53 Unrealized —

FTDR FRONTDOOR INC 0.1%

Value ($000) $1,862 Shares 27,674 Est. Cost $29.54 Unrealized +99.1%

AEIS ADVANCED ENERGY INDS 0.1%

Value ($000) $1,834 Shares 10,781 Est. Cost $99.14 Unrealized +105.2%

MSI MOTOROLA SOLUTIONS INC 0.0%

Value ($000) $229 Shares 500 Est. Cost $410.72 Unrealized -2.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FLUT	FLUTTER ENTMT PLC	304,962	$77,460	3.5%	$253.12	-11.1%	—	G3643J108
TGT	TARGET CORP	489,724	$43,928	2.0%	$93.48	-2.0%	—	87612E106
PPG	PPG INDS INC	414,222	$43,539	1.9%	$126.51	-20.9%	—	693506107
CNH	CNH INDL N V	1,289,691	$13,993	0.6%	$10.78	-7.4%	—	N20944109
EPAM	EPAM SYS INC	29,417	$4,436	0.2%	$231.29	-22.9%	—	29414B104
MOH	MOLINA HEALTHCARE INC	17,316	$3,314	0.1%	$297.12	-44.7%	—	60855R100
—	WNS HLDGS LTD	25,721	$1,962	0.1%	$50.53	—	—	G98196101
FTDR	FRONTDOOR INC	27,674	$1,862	0.1%	$29.54	+99.1%	—	35905A109
AEIS	ADVANCED ENERGY INDS	10,781	$1,834	0.1%	$99.14	+105.2%	—	007973100
MSI	MOTOROLA SOLUTIONS INC	500	$229	0.0%	$410.72	-2.4%	—	620076307

Decreased Positions (77)

CMCSA COMCAST CORP NEW 1.3%

Value ($000) $29,811 (-35.4%) Shares 997,370 (-32.1%) Est. Cost $36.91 Unrealized -22.7%

TSM TAIWAN SEMICONDUCTOR MFG LTD 0.0%

Value ($000) $480 (-97.1%) Shares 1,578 (-97.3%) Est. Cost $66.59 Unrealized —

CNC CENTENE CORP DEL 1.8%

Value ($000) $39,387 (-25.0%) Shares 957,159 (-35.0%) Est. Cost $47.54 Unrealized -21.3%

SRE SEMPRA 1.7%

Value ($000) $38,694 (-22.6%) Shares 438,255 (-21.1%) Est. Cost $64.80 Unrealized +39.7%

LH LABCORP HOLDINGS INC 2.2%

Value ($000) $49,001 (-13.7%) Shares 195,315 (-1.3%) Est. Cost $199.50 Unrealized +32.9%

DEO DIAGEO PLC 1.7%

Value ($000) $37,097 (-16.8%) Shares 430,013 (-8.0%) Est. Cost $150.98 Unrealized —

WY WEYERHAEUSER CO MTN BE 1.1%

Value ($000) $23,703 (-19.5%) Shares 1,000,541 (-15.8%) Est. Cost $25.57 Unrealized -10.1%

AMAT APPLIED MATLS INC 2.0%

Value ($000) $45,805 (+13.1%) Shares 178,237 (-9.9%) Est. Cost $104.42 Unrealized +129.4%

GOOGL ALPHABET INC 2.7%

Value ($000) $59,766 (+9.4%) Shares 190,945 (-15.0%) Est. Cost $105.22 Unrealized +171.4%

GRAB GRAB HOLDINGS LIMITED 0.8%

Value ($000) $18,704 (-20.1%) Shares 3,748,271 (-3.6%) Est. Cost $4.77 Unrealized +15.8%

TEL TE CONNECTIVITY PLC 1.4%

Value ($000) $31,688 (-12.2%) Shares 139,283 (-15.2%) Est. Cost $146.90 Unrealized +57.4%

ING ING GROEP N.V. 1.0%

Value ($000) $21,534 (-15.5%) Shares 769,078 (-21.3%) Est. Cost $11.36 Unrealized —

SLB SLB LIMITED 2.3%

Value ($000) $51,054 (+7.8%) Shares 1,330,217 (-3.4%) Est. Cost $35.62 Unrealized +1.2%

CB CHUBB LIMITED 2.1%

Value ($000) $46,758 (+7.1%) Shares 149,809 (-3.2%) Est. Cost $111.04 Unrealized +163.3%

BWA BORGWARNER INC 0.2%

Value ($000) $5,529 (-34.0%) Shares 122,711 (-35.6%) Est. Cost $30.35 Unrealized +44.0%

CVX CHEVRON CORP NEW 2.3%

Value ($000) $51,519 (-5.2%) Shares 338,026 (-3.4%) Est. Cost $147.42 Unrealized +2.7%

SONY SONY GROUP CORP 0.7%

Value ($000) $15,103 (-15.2%) Shares 589,953 (-4.7%) Est. Cost $34.73 Unrealized —

USB US BANCORP DEL 1.7%

Value ($000) $36,958 (+7.1%) Shares 692,620 (-3.0%) Est. Cost $41.10 Unrealized +18.5%

BCS BARCLAYS PLC 0.9%

Value ($000) $20,739 (+13.0%) Shares 814,900 (-8.2%) Est. Cost $10.28 Unrealized —

GNTX GENTEX CORP 0.3%

Value ($000) $5,724 (-27.5%) Shares 245,971 (-11.8%) Est. Cost $25.74 Unrealized -6.3%

AXP AMERICAN EXPRESS CO 1.5%

Value ($000) $34,183 (+6.5%) Shares 92,399 (-4.4%) Est. Cost $109.69 Unrealized +225.4%

ALGN ALIGN TECHNOLOGY INC 0.5%

Value ($000) $11,588 (+21.9%) Shares 74,210 (-2.2%) Est. Cost $170.61 Unrealized -16.0%

LW LAMB WESTON HLDGS INC 0.1%

Value ($000) $2,920 (-39.8%) Shares 69,710 (-16.5%) Est. Cost $70.72 Unrealized -17.0%

DINO HF SINCLAIR CORP 0.2%

Value ($000) $3,855 (-32.7%) Shares 83,650 (-23.6%) Est. Cost $38.52 Unrealized +33.1%

JPM JPMORGAN CHASE & CO. 2.3%

Value ($000) $52,564 (-3.4%) Shares 163,130 (-5.4%) Est. Cost $99.17 Unrealized +212.1%

RYAAY RYANAIR HOLDINGS PLC 0.8%

Value ($000) $17,230 (+11.6%) Shares 238,670 (-6.9%) Est. Cost $42.37 Unrealized —

LECO LINCOLN ELEC HLDGS INC 0.2%

Value ($000) $4,315 (-25.7%) Shares 18,005 (-26.8%) Est. Cost $105.49 Unrealized +124.5%

WBS WEBSTER FINL CORP 0.2%

Value ($000) $4,109 (-25.7%) Shares 65,278 (-29.8%) Est. Cost $55.64 Unrealized +6.7%

RTX RTX CORPORATION 1.3%

Value ($000) $28,092 (+5.3%) Shares 153,173 (-3.9%) Est. Cost $82.51 Unrealized +110.1%

DLB DOLBY LABORATORIES INC 0.2%

Value ($000) $3,536 (-28.6%) Shares 55,053 (-19.5%) Est. Cost $79.30 Unrealized -16.1%

FNF FIDELITY NATIONAL FINANCIAL 0.2%

Value ($000) $4,071 (-24.6%) Shares 74,570 (-16.4%) Est. Cost $28.07 Unrealized +95.1%

PKG PACKAGING CORP AMER 0.2%

Value ($000) $4,486 (-22.0%) Shares 21,752 (-17.6%) Est. Cost $124.43 Unrealized +62.6%

EL LAUDER ESTEE COS INC 2.1%

Value ($000) $46,961 (-2.5%) Shares 448,441 (-17.9%) Est. Cost $74.53 Unrealized +29.9%

LFUS LITTELFUSE INC 0.2%

Value ($000) $4,596 (-20.5%) Shares 18,173 (-18.6%) Est. Cost $261.45 Unrealized -2.6%

WSC WILLSCOT HLDGS CORP 0.1%

Value ($000) $3,072 (-27.7%) Shares 163,165 (-18.9%) Est. Cost $35.55 Unrealized -43.3%

NNN NNN REIT INC 0.2%

Value ($000) $4,017 (-22.5%) Shares 101,361 (-16.7%) Est. Cost $39.35 Unrealized —

IJH ISHARES TR 0.1%

Value ($000) $3,020 (-27.8%) Shares 45,755 (-28.6%) Est. Cost $72.86 Unrealized —

BOKF BOK FINL CORP 0.3%

Value ($000) $5,964 (-15.9%) Shares 50,350 (-20.9%) Est. Cost $76.65 Unrealized +45.2%

WEX WEX INC 0.2%

Value ($000) $5,309 (-17.2%) Shares 35,633 (-12.5%) Est. Cost $190.47 Unrealized -20.9%

DGX QUEST DIAGNOSTICS INC 0.2%

Value ($000) $4,118 (-21.1%) Shares 23,730 (-13.4%) Est. Cost $127.96 Unrealized +42.3%

LSCC LATTICE SEMICONDUCTOR CORP 0.3%

Value ($000) $5,701 (-15.9%) Shares 77,487 (-16.2%) Est. Cost $73.32 Unrealized —

EEFT EURONET WORLDWIDE INC 0.2%

Value ($000) $3,469 (-23.6%) Shares 45,583 (-11.8%) Est. Cost $98.12 Unrealized -20.5%

WTRG ESSENTIAL UTILS INC 0.2%

Value ($000) $3,999 (-20.7%) Shares 104,260 (-17.5%) Est. Cost $42.72 Unrealized -7.9%

ATO ATMOS ENERGY CORP 0.2%

Value ($000) $4,384 (-19.2%) Shares 26,155 (-17.7%) Est. Cost $80.89 Unrealized +113.0%

MA MASTERCARD INCORPORATED 1.5%

Value ($000) $34,067 (-2.8%) Shares 59,674 (-3.2%) Est. Cost $343.46 Unrealized +62.7%

MDT MEDTRONIC PLC 2.5%

Value ($000) $55,253 (-1.6%) Shares 575,189 (-2.4%) Est. Cost $77.51 Unrealized +25.3%

SRAD SPORTRADAR GROUP AG 0.2%

Value ($000) $5,485 (-13.6%) Shares 230,738 (-2.3%) Est. Cost $17.34 Unrealized —

DOX AMDOCS LTD 0.2%

Value ($000) $4,045 (-16.6%) Shares 50,239 (-15.0%) Est. Cost $66.30 Unrealized +20.5%

PNW PINNACLE WEST CAP CORP 0.2%

Value ($000) $4,029 (-16.4%) Shares 45,419 (-15.5%) Est. Cost $65.20 Unrealized +36.9%

RMBS RAMBUS INC DEL 0.1%

Value ($000) $1,699 (-31.3%) Shares 18,494 (-22.1%) Est. Cost $18.37 Unrealized +435.5%

PNC PNC FINL SVCS GROUP INC 2.3%

Value ($000) $52,017 (+1.5%) Shares 249,209 (-2.3%) Est. Cost $126.51 Unrealized +52.4%

AMZN AMAZON COM INC 2.4%

Value ($000) $54,731 (+1.4%) Shares 237,115 (-3.5%) Est. Cost $126.63 Unrealized +80.7%

TJX TJX COS INC NEW 1.2%

Value ($000) $27,723 (+2.7%) Shares 180,477 (-3.4%) Est. Cost $57.11 Unrealized +158.6%

TTC TORO CO 0.2%

Value ($000) $4,080 (-13.7%) Shares 51,830 (-16.5%) Est. Cost $81.74 Unrealized -9.6%

CBOE CBOE GLOBAL MKTS INC 0.2%

Value ($000) $4,536 (-12.2%) Shares 18,071 (-14.2%) Est. Cost $111.65 Unrealized +122.8%

WAT WATERS CORP 0.2%

Value ($000) $4,160 (-12.8%) Shares 10,951 (-31.1%) Est. Cost $276.34 Unrealized +33.2%

RGA REINSURANCE GRP OF AMERICA I 0.3%

Value ($000) $6,353 (-8.3%) Shares 31,225 (-13.4%) Est. Cost $113.64 Unrealized +70.2%

PB PROSPERITY BANCSHARES INC 0.3%

Value ($000) $5,899 (-8.2%) Shares 85,361 (-11.8%) Est. Cost $65.10 Unrealized +3.0%

GMED GLOBUS MED INC 0.3%

Value ($000) $7,120 (+6.7%) Shares 81,544 (-30.0%) Est. Cost $62.88 Unrealized +20.7%

UCB UNITED CMNTY BKS BLAIRSVLE G 0.1%

Value ($000) $1,695 (-17.3%) Shares 54,281 (-17.0%) Est. Cost $24.86 Unrealized +24.2%

JBHT HUNT J B TRANS SVCS INC 0.2%

Value ($000) $4,234 (-7.1%) Shares 21,784 (-35.9%) Est. Cost $167.50 Unrealized +2.4%

ASML ASML HOLDING N V 0.9%

Value ($000) $19,902 (-1.2%) Shares 18,602 (-10.6%) Est. Cost $797.90 Unrealized —

E ENI S P A 0.0%

Value ($000) $658 (-25.1%) Shares 17,340 (-31.0%) Est. Cost $30.99 Unrealized —

ICLR ICON PLC 0.6%

Value ($000) $13,634 (-1.4%) Shares 74,822 (-5.3%) Est. Cost $212.30 Unrealized -16.1%

RNR RENAISSANCERE HLDGS LTD 0.1%

Value ($000) $1,839 (-8.0%) Shares 6,541 (-16.9%) Est. Cost $148.28 Unrealized +77.5%

UBSI UNITED BANKSHARES INC WEST V 0.1%

Value ($000) $1,729 (-7.2%) Shares 45,034 (-10.1%) Est. Cost $34.64 Unrealized +7.5%

NOV NOV INC 0.1%

Value ($000) $1,412 (-8.6%) Shares 90,358 (-22.5%) Est. Cost $12.92 Unrealized +14.8%

ATMU ATMUS FILTRATION TECHNOLOGIE 0.1%

Value ($000) $1,709 (-7.0%) Shares 32,917 (-19.2%) Est. Cost $22.69 Unrealized +113.1%

ICE INTERCONTINENTAL EXCHANGE IN 0.0%

Value ($000) $268 (-27.3%) Shares 1,652 (-24.3%) Est. Cost $100.99 Unrealized +54.7%

GS GOLDMAN SACHS GROUP INC 0.0%

Value ($000) $902 (-9.1%) Shares 1,026 (-17.7%) Est. Cost $229.40 Unrealized +254.6%

CTVA CORTEVA INC 0.0%

Value ($000) $276 (-22.8%) Shares 4,124 (-22.2%) Est. Cost $36.75 Unrealized +75.6%

WELL WELLTOWER INC 0.0%

Value ($000) $308 (-20.1%) Shares 1,661 (-23.4%) Est. Cost $55.32 Unrealized +237.1%

WMB WILLIAMS COS INC 0.0%

Value ($000) $424 (-10.7%) Shares 7,058 (-5.9%) Est. Cost $28.37 Unrealized +111.7%

MRVL MARVELL TECHNOLOGY INC 0.0%

Value ($000) $433 (-10.0%) Shares 5,099 (-11.0%) Est. Cost $49.29 Unrealized +77.5%

DAL DELTA AIR LINES INC DEL 2.4%

Value ($000) $54,375 (+0.0%) Shares 783,500 (-18.2%) Est. Cost $42.46 Unrealized +47.1%

VSAT VIASAT INC 0.0%

Value ($000) $256 (-3.3%) Shares 7,438 (-17.8%) Est. Cost $9.65 Unrealized +265.7%

ASX ASE TECHNOLOGY HLDG CO LTD 0.0%

Value ($000) $180 (-3.1%) Shares 11,150 (-33.2%) Est. Cost $10.07 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CMCSA	COMCAST CORP NEW	997,370 (-32.1%)	$29,811 (-35.4%)	1.3%	$36.91	-22.7%	CL A	20030N101
TSM	TAIWAN SEMICONDUCTOR MFG LTD	1,578 (-97.3%)	$480 (-97.1%)	0.0%	$66.59	—	SPONSORED ADS	874039100
CNC	CENTENE CORP DEL	957,159 (-35.0%)	$39,387 (-25.0%)	1.8%	$47.54	-21.3%	COM	15135B101
SRE	SEMPRA	438,255 (-21.1%)	$38,694 (-22.6%)	1.7%	$64.80	+39.7%	COM	816851109
LH	LABCORP HOLDINGS INC	195,315 (-1.3%)	$49,001 (-13.7%)	2.2%	$199.50	+32.9%	COM SHS	504922105
DEO	DIAGEO PLC	430,013 (-8.0%)	$37,097 (-16.8%)	1.7%	$150.98	—	SPON ADR NEW	25243Q205
WY	WEYERHAEUSER CO MTN BE	1,000,541 (-15.8%)	$23,703 (-19.5%)	1.1%	$25.57	-10.1%	COM NEW	962166104
AMAT	APPLIED MATLS INC	178,237 (-9.9%)	$45,805 (+13.1%)	2.0%	$104.42	+129.4%	COM	038222105
GOOGL	ALPHABET INC	190,945 (-15.0%)	$59,766 (+9.4%)	2.7%	$105.22	+171.4%	CAP STK CL A	02079K305
GRAB	GRAB HOLDINGS LIMITED	3,748,271 (-3.6%)	$18,704 (-20.1%)	0.8%	$4.77	+15.8%	CLASS A ORD	G4124C109
TEL	TE CONNECTIVITY PLC	139,283 (-15.2%)	$31,688 (-12.2%)	1.4%	$146.90	+57.4%	ORD SHS	G87052109
ING	ING GROEP N.V.	769,078 (-21.3%)	$21,534 (-15.5%)	1.0%	$11.36	—	SPONSORED ADR	456837103
SLB	SLB LIMITED	1,330,217 (-3.4%)	$51,054 (+7.8%)	2.3%	$35.62	+1.2%	COM STK	806857108
CB	CHUBB LIMITED	149,809 (-3.2%)	$46,758 (+7.1%)	2.1%	$111.04	+163.3%	COM	H1467J104
BWA	BORGWARNER INC	122,711 (-35.6%)	$5,529 (-34.0%)	0.2%	$30.35	+44.0%	COM	099724106
CVX	CHEVRON CORP NEW	338,026 (-3.4%)	$51,519 (-5.2%)	2.3%	$147.42	+2.7%	COM	166764100
SONY	SONY GROUP CORP	589,953 (-4.7%)	$15,103 (-15.2%)	0.7%	$34.73	—	SPONSORED ADR	835699307
USB	US BANCORP DEL	692,620 (-3.0%)	$36,958 (+7.1%)	1.7%	$41.10	+18.5%	COM NEW	902973304
BCS	BARCLAYS PLC	814,900 (-8.2%)	$20,739 (+13.0%)	0.9%	$10.28	—	ADR	06738E204
GNTX	GENTEX CORP	245,971 (-11.8%)	$5,724 (-27.5%)	0.3%	$25.74	-6.3%	COM	371901109
AXP	AMERICAN EXPRESS CO	92,399 (-4.4%)	$34,183 (+6.5%)	1.5%	$109.69	+225.4%	COM	025816109
ALGN	ALIGN TECHNOLOGY INC	74,210 (-2.2%)	$11,588 (+21.9%)	0.5%	$170.61	-16.0%	COM	016255101
LW	LAMB WESTON HLDGS INC	69,710 (-16.5%)	$2,920 (-39.8%)	0.1%	$70.72	-17.0%	COM	513272104
DINO	HF SINCLAIR CORP	83,650 (-23.6%)	$3,855 (-32.7%)	0.2%	$38.52	+33.1%	COM	403949100
JPM	JPMORGAN CHASE & CO.	163,130 (-5.4%)	$52,564 (-3.4%)	2.3%	$99.17	+212.1%	COM	46625H100
RYAAY	RYANAIR HOLDINGS PLC	238,670 (-6.9%)	$17,230 (+11.6%)	0.8%	$42.37	—	SPONSORED ADR	783513203
LECO	LINCOLN ELEC HLDGS INC	18,005 (-26.8%)	$4,315 (-25.7%)	0.2%	$105.49	+124.5%	COM	533900106
WBS	WEBSTER FINL CORP	65,278 (-29.8%)	$4,109 (-25.7%)	0.2%	$55.64	+6.7%	COM	947890109
RTX	RTX CORPORATION	153,173 (-3.9%)	$28,092 (+5.3%)	1.3%	$82.51	+110.1%	COM	75513E101
DLB	DOLBY LABORATORIES INC	55,053 (-19.5%)	$3,536 (-28.6%)	0.2%	$79.30	-16.1%	COM CL A	25659T107
FNF	FIDELITY NATIONAL FINANCIAL	74,570 (-16.4%)	$4,071 (-24.6%)	0.2%	$28.07	+95.1%	COM SHS	31620R303
PKG	PACKAGING CORP AMER	21,752 (-17.6%)	$4,486 (-22.0%)	0.2%	$124.43	+62.6%	COM	695156109
EL	LAUDER ESTEE COS INC	448,441 (-17.9%)	$46,961 (-2.5%)	2.1%	$74.53	+29.9%	CL A	518439104
LFUS	LITTELFUSE INC	18,173 (-18.6%)	$4,596 (-20.5%)	0.2%	$261.45	-2.6%	COM	537008104
WSC	WILLSCOT HLDGS CORP	163,165 (-18.9%)	$3,072 (-27.7%)	0.1%	$35.55	-43.3%	COM CL A	971378104
NNN	NNN REIT INC	101,361 (-16.7%)	$4,017 (-22.5%)	0.2%	$39.35	—	COM	637417106
IJH	ISHARES TR	45,755 (-28.6%)	$3,020 (-27.8%)	0.1%	$72.86	—	CORE S&P MCP ETF	464287507
BOKF	BOK FINL CORP	50,350 (-20.9%)	$5,964 (-15.9%)	0.3%	$76.65	+45.2%	COM NEW	05561Q201
WEX	WEX INC	35,633 (-12.5%)	$5,309 (-17.2%)	0.2%	$190.47	-20.9%	COM	96208T104
DGX	QUEST DIAGNOSTICS INC	23,730 (-13.4%)	$4,118 (-21.1%)	0.2%	$127.96	+42.3%	COM	74834L100
LSCC	LATTICE SEMICONDUCTOR CORP	77,487 (-16.2%)	$5,701 (-15.9%)	0.3%	$73.32	—	COM	518415104
EEFT	EURONET WORLDWIDE INC	45,583 (-11.8%)	$3,469 (-23.6%)	0.2%	$98.12	-20.5%	COM	298736109
WTRG	ESSENTIAL UTILS INC	104,260 (-17.5%)	$3,999 (-20.7%)	0.2%	$42.72	-7.9%	COM	29670G102
ATO	ATMOS ENERGY CORP	26,155 (-17.7%)	$4,384 (-19.2%)	0.2%	$80.89	+113.0%	COM	049560105
MA	MASTERCARD INCORPORATED	59,674 (-3.2%)	$34,067 (-2.8%)	1.5%	$343.46	+62.7%	CL A	57636Q104
MDT	MEDTRONIC PLC	575,189 (-2.4%)	$55,253 (-1.6%)	2.5%	$77.51	+25.3%	SHS	G5960L103
SRAD	SPORTRADAR GROUP AG	230,738 (-2.3%)	$5,485 (-13.6%)	0.2%	$17.34	—	CLASS A ORD SHS	H8088L103
DOX	AMDOCS LTD	50,239 (-15.0%)	$4,045 (-16.6%)	0.2%	$66.30	+20.5%	SHS	G02602103
PNW	PINNACLE WEST CAP CORP	45,419 (-15.5%)	$4,029 (-16.4%)	0.2%	$65.20	+36.9%	COM	723484101
RMBS	RAMBUS INC DEL	18,494 (-22.1%)	$1,699 (-31.3%)	0.1%	$18.37	+435.5%	COM	750917106
PNC	PNC FINL SVCS GROUP INC	249,209 (-2.3%)	$52,017 (+1.5%)	2.3%	$126.51	+52.4%	COM	693475105
AMZN	AMAZON COM INC	237,115 (-3.5%)	$54,731 (+1.4%)	2.4%	$126.63	+80.7%	COM	023135106
TJX	TJX COS INC NEW	180,477 (-3.4%)	$27,723 (+2.7%)	1.2%	$57.11	+158.6%	COM	872540109
TTC	TORO CO	51,830 (-16.5%)	$4,080 (-13.7%)	0.2%	$81.74	-9.6%	COM	891092108
CBOE	CBOE GLOBAL MKTS INC	18,071 (-14.2%)	$4,536 (-12.2%)	0.2%	$111.65	+122.8%	COM	12503M108
WAT	WATERS CORP	10,951 (-31.1%)	$4,160 (-12.8%)	0.2%	$276.34	+33.2%	COM	941848103
RGA	REINSURANCE GRP OF AMERICA I	31,225 (-13.4%)	$6,353 (-8.3%)	0.3%	$113.64	+70.2%	COM NEW	759351604
PB	PROSPERITY BANCSHARES INC	85,361 (-11.8%)	$5,899 (-8.2%)	0.3%	$65.10	+3.0%	COM	743606105
GMED	GLOBUS MED INC	81,544 (-30.0%)	$7,120 (+6.7%)	0.3%	$62.88	+20.7%	CL A	379577208
UCB	UNITED CMNTY BKS BLAIRSVLE G	54,281 (-17.0%)	$1,695 (-17.3%)	0.1%	$24.86	+24.2%	COM	90984P303
JBHT	HUNT J B TRANS SVCS INC	21,784 (-35.9%)	$4,234 (-7.1%)	0.2%	$167.50	+2.4%	COM	445658107
ASML	ASML HOLDING N V	18,602 (-10.6%)	$19,902 (-1.2%)	0.9%	$797.90	—	N Y REGISTRY SHS	N07059210
E	ENI S P A	17,340 (-31.0%)	$658 (-25.1%)	0.0%	$30.99	—	SPONSORED ADR	26874R108
ICLR	ICON PLC	74,822 (-5.3%)	$13,634 (-1.4%)	0.6%	$212.30	-16.1%	SHS	G4705A100
RNR	RENAISSANCERE HLDGS LTD	6,541 (-16.9%)	$1,839 (-8.0%)	0.1%	$148.28	+77.5%	COM	G7496G103
UBSI	UNITED BANKSHARES INC WEST V	45,034 (-10.1%)	$1,729 (-7.2%)	0.1%	$34.64	+7.5%	COM	909907107
NOV	NOV INC	90,358 (-22.5%)	$1,412 (-8.6%)	0.1%	$12.92	+14.8%	COM	62955J103
ATMU	ATMUS FILTRATION TECHNOLOGIE	32,917 (-19.2%)	$1,709 (-7.0%)	0.1%	$22.69	+113.1%	COM	04956D107
ICE	INTERCONTINENTAL EXCHANGE IN	1,652 (-24.3%)	$268 (-27.3%)	0.0%	$100.99	+54.7%	COM	45866F104
GS	GOLDMAN SACHS GROUP INC	1,026 (-17.7%)	$902 (-9.1%)	0.0%	$229.40	+254.6%	COM	38141G104
CTVA	CORTEVA INC	4,124 (-22.2%)	$276 (-22.8%)	0.0%	$36.75	+75.6%	COM	22052L104
WELL	WELLTOWER INC	1,661 (-23.4%)	$308 (-20.1%)	0.0%	$55.32	+237.1%	COM	95040Q104
WMB	WILLIAMS COS INC	7,058 (-5.9%)	$424 (-10.7%)	0.0%	$28.37	+111.7%	COM	969457100
MRVL	MARVELL TECHNOLOGY INC	5,099 (-11.0%)	$433 (-10.0%)	0.0%	$49.29	+77.5%	COM	573874104
DAL	DELTA AIR LINES INC DEL	783,500 (-18.2%)	$54,375 (+0.0%)	2.4%	$42.46	+47.1%	COM NEW	247361702
VSAT	VIASAT INC	7,438 (-17.8%)	$256 (-3.3%)	0.0%	$9.65	+265.7%	COM	92552V100
ASX	ASE TECHNOLOGY HLDG CO LTD	11,150 (-33.2%)	$180 (-3.1%)	0.0%	$10.07	—	SPONSORED ADS	00215W100

Unchanged Positions (23)

ELV ELEVANCE HEALTH INC FORMERLY 2.6%

Value ($000) $58,878 Shares 167,958 Est. Cost $395.47 Unrealized -14.9%

HUBG HUB GROUP INC 0.1%

Value ($000) $1,910 Shares 44,815 Est. Cost $41.54 Unrealized -8.5%

HSTM HEALTHSTREAM INC 0.1%

Value ($000) $1,551 Shares 67,229 Est. Cost $25.03 Unrealized +0.5%

ALG ALAMO GROUP INC 0.1%

Value ($000) $1,451 Shares 8,642 Est. Cost $126.15 Unrealized +37.8%

MCRI MONARCH CASINO & RESORT INC 0.1%

Value ($000) $1,615 Shares 16,871 Est. Cost $67.59 Unrealized +42.3%

HCSG HEALTHCARE SVCS GROUP INC 0.1%

Value ($000) $1,395 Shares 72,953 Est. Cost $19.66 Unrealized -8.5%

ET ENERGY TRANSFER L P 0.2%

Value ($000) $4,329 Shares 262,523 Est. Cost $12.28 Unrealized —

CBT CABOT CORP 0.1%

Value ($000) $1,124 Shares 16,959 Est. Cost $66.18 Unrealized +0.1%

ADUS ADDUS HOMECARE CORP 0.1%

Value ($000) $1,523 Shares 14,179 Est. Cost $89.51 Unrealized +28.3%

USPH U S PHYSICAL THERAPY 0.1%

Value ($000) $1,688 Shares 21,621 Est. Cost $94.10 Unrealized -13.8%

TCBI TEXAS CAP BANCSHARES INC 0.1%

Value ($000) $1,839 Shares 20,310 Est. Cost $64.89 Unrealized +35.3%

DIOD DIODES INC 0.1%

Value ($000) $1,399 Shares 28,349 Est. Cost $62.68 Unrealized -19.3%

MMI MARCUS & MILLICHAP INC 0.1%

Value ($000) $1,131 Shares 41,458 Est. Cost $37.82 Unrealized -23.5%

FAF FIRST AMERN FINL CORP 0.1%

Value ($000) $1,972 Shares 32,104 Est. Cost $43.85 Unrealized +42.1%

HLN HALEON PLC 0.0%

Value ($000) $671 Shares 66,329 Est. Cost $8.23 Unrealized —

IDA IDACORP INC 0.1%

Value ($000) $1,567 Shares 12,379 Est. Cost $92.15 Unrealized +41.2%

TXNM TXNM ENERGY INC 0.1%

Value ($000) $1,649 Shares 28,008 Est. Cost $46.17 Unrealized +25.0%

NTST NETSTREIT CORP 0.1%

Value ($000) $1,817 Shares 102,978 Est. Cost $18.45 Unrealized —

NVS NOVARTIS AG 0.0%

Value ($000) $291 Shares 2,114 Est. Cost $86.66 Unrealized —

QLTA ISHARES TR 0.0%

Value ($000) $786 Shares 16,339 Est. Cost $55.78 Unrealized —

AGZ ISHARES TR 0.0%

Value ($000) $873 Shares 7,917 Est. Cost $115.01 Unrealized —

IEF ISHARES TR 0.0%

Value ($000) $415 Shares 4,313 Est. Cost $95.37 Unrealized —

IEI ISHARES TR 0.0%

Value ($000) $494 Shares 4,139 Est. Cost $118.13 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ELV	ELEVANCE HEALTH INC FORMERLY	167,958	$58,878	2.6%	$395.47	-14.9%	COM	036752103
HUBG	HUB GROUP INC	44,815	$1,910	0.1%	$41.54	-8.5%	CL A	443320106
HSTM	HEALTHSTREAM INC	67,229	$1,551	0.1%	$25.03	+0.5%	COM	42222N103
ALG	ALAMO GROUP INC	8,642	$1,451	0.1%	$126.15	+37.8%	COM	011311107
MCRI	MONARCH CASINO & RESORT INC	16,871	$1,615	0.1%	$67.59	+42.3%	COM	609027107
HCSG	HEALTHCARE SVCS GROUP INC	72,953	$1,395	0.1%	$19.66	-8.5%	COM	421906108
ET	ENERGY TRANSFER L P	262,523	$4,329	0.2%	$12.28	—	COM UT LTD PTN	29273V100
CBT	CABOT CORP	16,959	$1,124	0.1%	$66.18	+0.1%	COM	127055101
ADUS	ADDUS HOMECARE CORP	14,179	$1,523	0.1%	$89.51	+28.3%	COM	006739106
USPH	U S PHYSICAL THERAPY	21,621	$1,688	0.1%	$94.10	-13.8%	COM	90337L108
TCBI	TEXAS CAP BANCSHARES INC	20,310	$1,839	0.1%	$64.89	+35.3%	COM	88224Q107
DIOD	DIODES INC	28,349	$1,399	0.1%	$62.68	-19.3%	COM	254543101
MMI	MARCUS & MILLICHAP INC	41,458	$1,131	0.1%	$37.82	-23.5%	COM	566324109
FAF	FIRST AMERN FINL CORP	32,104	$1,972	0.1%	$43.85	+42.1%	COM	31847R102
HLN	HALEON PLC	66,329	$671	0.0%	$8.23	—	SPON ADS	405552100
IDA	IDACORP INC	12,379	$1,567	0.1%	$92.15	+41.2%	COM	451107106
TXNM	TXNM ENERGY INC	28,008	$1,649	0.1%	$46.17	+25.0%	COM	69349H107
NTST	NETSTREIT CORP	102,978	$1,817	0.1%	$18.45	—	COM	64119V303
NVS	NOVARTIS AG	2,114	$291	0.0%	$86.66	—	SPONSORED ADR	66987V109
QLTA	ISHARES TR	16,339	$786	0.0%	$55.78	—	A RATE CP BD ETF	46429B291
AGZ	ISHARES TR	7,917	$873	0.0%	$115.01	—	AGENCY BOND ETF	464288166
IEF	ISHARES TR	4,313	$415	0.0%	$95.37	—	7-10 YR TRSY BD	464287440
IEI	ISHARES TR	4,139	$494	0.0%	$118.13	—	3 7 YR TREAS BD	464288661