KETTLE HILL CAPITAL MANAGEMENT, LLC Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ESTC	ELASTIC N V	393,556	$29,690	6.6%	$81.59	0.0%	ORD SHS	N14506104
RH	RH	161,122	$28,865	6.4%	$171.01	0.0%	COM	74967X103
S	SENTINELONE INC	1,716,381	$25,746	5.7%	$16.38	0.0%	CL A	81730H109
BRZE	BRAZE INC	747,715	$25,639	5.7%	$29.63	0.0%	COM CL A	10576N102
VZ	VERIZON COMMUNICATIONS INC	576,603	$23,485	5.2%	$40.48	0.0%	COM	92343V104
KMI	KINDER MORGAN INC DEL	642,259	$17,656	3.9%	$26.91	0.0%	COM	49456B101
JPM	JPMORGAN CHASE & CO.	36,936	$11,902	2.7%	$309.53	0.0%	COM	46625H100
CMC	COMMERCIAL METALS CO	165,515	$11,457	2.6%	$62.39	0.0%	COM	201723103
TDS	TELEPHONE & DATA SYS INC	236,635	$9,702	2.2%	$38.95	0.0%	COM NEW	879433829
CFLT	CONFLUENT INC	249,270	$7,538	1.7%	$24.55	0.0%	CLASS A COM	20717M103
PRMB	PRIMO BRANDS CORPORATION	373,503	$6,107	1.4%	$18.48	0.0%	CLASS A COM SHS	741623102
SON	SONOCO PRODS CO	137,805	$6,014	1.3%	$41.17	0.0%	COM	835495102
SKY	CHAMPION HOMES INC	70,343	$5,944	1.3%	$78.80	0.0%	COM	830830105
EXE	EXPAND ENERGY CORPORATION	53,730	$5,930	1.3%	$110.64	0.0%	COM	165167735
GLNG	GOLAR LNG LTD	158,561	$5,900	1.3%	$38.10	0.0%	SHS	G9456A100
EQT	EQT CORP	108,791	$5,831	1.3%	$56.13	0.0%	COM	26884L109
SHAK	SHAKE SHACK INC	71,284	$5,786	1.3%	$88.17	0.0%	CL A	819047101
AMR	ALPHA METALLURGICAL RESOUR I	24,127	$4,823	1.1%	$172.83	0.0%	COM	020764106
CPRI	CAPRI HOLDINGS LIMITED	120,091	$2,930	0.7%	$23.13	0.0%	SHS	G1890L107
ENPH	ENPHASE ENERGY INC	72,794	$2,333	0.5%	$32.39	0.0%	COM	29355A107
AAON	AAON INC	30,053	$2,292	0.5%	$92.29	0.0%	COM PAR $0.004	000360206
RXO	RXO INC	136,015	$1,719	0.4%	$14.75	0.0%	COMMON STOCK	74982T103
GOOGL	ALPHABET INC	2,673	$837	0.2%	$285.60	0.0%	CAP STK CL A	02079K305
AMZN	AMAZON COM INC	3,607	$833	0.2%	$228.79	0.0%	COM	023135106
META	META PLATFORMS INC	1,260	$832	0.2%	$667.32	0.0%	CL A	30303M102
TSLA	TESLA INC	1,231	$554	0.1%	$443.29	0.0%	COM	88160R101

Increased Positions (5)

U UNITY SOFTWARE INC 6.5%

Value ($000) $29,064 (+209.6%) Shares 658,005 (+180.6%) Est. Cost $34.07 Unrealized +19.6%

PENN PENN ENTERTAINMENT INC 5.8%

Value ($000) $26,158 (+75.8%) Shares 1,773,390 (+129.5%) Est. Cost $17.60 Unrealized -11.4%

HR HEALTHCARE RLTY TR 5.2%

Value ($000) $23,293 (+56.1%) Shares 1,374,243 (+66.0%) Est. Cost $16.46 Unrealized —

AKAM AKAMAI TECHNOLOGIES INC 2.6%

Value ($000) $11,664 (+88.5%) Shares 133,688 (+63.6%) Est. Cost $79.09 Unrealized +4.0%

WYNN WYNN RESORTS LTD 5.8%

Value ($000) $25,893 (-4.0%) Shares 215,185 (+2.3%) Est. Cost $90.65 Unrealized +36.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
U	UNITY SOFTWARE INC	658,005 (+180.6%)	$29,064 (+209.6%)	6.5%	$34.07	+19.6%	COM	91332U101
PENN	PENN ENTERTAINMENT INC	1,773,390 (+129.5%)	$26,158 (+75.8%)	5.8%	$17.60	-11.4%	COM	707569109
HR	HEALTHCARE RLTY TR	1,374,243 (+66.0%)	$23,293 (+56.1%)	5.2%	$16.46	—	CL A COM	42226K105
AKAM	AKAMAI TECHNOLOGIES INC	133,688 (+63.6%)	$11,664 (+88.5%)	2.6%	$79.09	+4.0%	COM	00971T101
WYNN	WYNN RESORTS LTD	215,185 (+2.3%)	$25,893 (-4.0%)	5.8%	$90.65	+36.3%	COM	983134107

Exited Positions (23)

EVR EVERCORE INC 5.0%

Value ($000) $22,279 Shares 66,047 Est. Cost $218.31 Unrealized +47.0%

KIM KIMCO RLTY CORP 3.3%

Value ($000) $14,921 Shares 682,890 Est. Cost $21.29 Unrealized -3.4%

ZM ZOOM COMMUNICATIONS INC 3.3%

Value ($000) $14,581 Shares 176,738 Est. Cost $77.22 Unrealized +9.0%

HSIC HENRY SCHEIN INC 3.2%

Value ($000) $14,158 Shares 213,319 Est. Cost $69.22 Unrealized +1.7%

ENR ENERGIZER HLDGS INC NEW 3.1%

Value ($000) $13,784 Shares 553,815 Est. Cost $24.79 Unrealized -14.2%

— HUDSON PAC PPTYS INC 2.8%

Value ($000) $12,582 Shares 4,558,816 Est. Cost $2.76 Unrealized —

DUK DUKE ENERGY CORP NEW 2.7%

Value ($000) $12,283 Shares 99,258 Est. Cost $111.31 Unrealized +9.2%

SO SOUTHERN CO 2.7%

Value ($000) $12,269 Shares 129,463 Est. Cost $92.22 Unrealized -1.4%

NXPI NXP SEMICONDUCTORS N V 2.2%

Value ($000) $9,927 Shares 43,590 Est. Cost $213.22 Unrealized +0.2%

SPY SPDR S&P 500 ETF TR 1.8%

Value ($000) $7,982 Shares 11,981 Est. Cost $666.18 Unrealized —

IWM ISHARES TR 1.8%

Value ($000) $7,981 Shares 32,984 Est. Cost $216.28 Unrealized —

AESI ATLAS ENERGY SOLUTIONS INC 1.7%

Value ($000) $7,514 Shares 660,843 Est. Cost $14.06 Unrealized -28.1%

SIG SIGNET JEWELERS LIMITED 1.5%

Value ($000) $6,823 Shares 71,137 Est. Cost $66.15 Unrealized +43.6%

VTRS VIATRIS INC 1.4%

Value ($000) $6,141 Shares 620,334 Est. Cost $9.56 Unrealized +12.1%

ED CONSOLIDATED EDISON INC 1.4%

Value ($000) $6,135 Shares 61,036 Est. Cost $97.31 Unrealized +1.5%

PINS PINTEREST INC 1.4%

Value ($000) $6,132 Shares 190,600 Est. Cost $30.93 Unrealized -6.9%

AMRZ AMRIZE LTD 0.7%

Value ($000) $3,021 Shares 62,251 Est. Cost $50.99 Unrealized +0.1%

XEL XCEL ENERGY INC 0.6%

Value ($000) $2,834 Shares 35,137 Est. Cost $71.34 Unrealized +9.7%

PPL PPL CORP 0.6%

Value ($000) $2,833 Shares 76,244 Est. Cost $32.27 Unrealized +11.0%

COO COOPER COS INC 0.5%

Value ($000) $2,315 Shares 33,773 Est. Cost $70.83 Unrealized +5.7%

GEO GEO GROUP INC NEW 0.3%

Value ($000) $1,556 Shares 75,936 Est. Cost $27.32 Unrealized -39.0%

REYN REYNOLDS CONSUMER PRODS INC 0.3%

Value ($000) $1,150 Shares 47,009 Est. Cost $22.09 Unrealized +7.6%

SLG SL GREEN RLTY CORP 0.2%

Value ($000) $934 Shares 15,613 Est. Cost $61.90 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EVR	EVERCORE INC	66,047	$22,279	5.0%	$218.31	+47.0%	—	29977A105
KIM	KIMCO RLTY CORP	682,890	$14,921	3.3%	$21.29	-3.4%	—	49446R109
ZM	ZOOM COMMUNICATIONS INC	176,738	$14,581	3.3%	$77.22	+9.0%	—	98980L101
HSIC	HENRY SCHEIN INC	213,319	$14,158	3.2%	$69.22	+1.7%	—	806407102
ENR	ENERGIZER HLDGS INC NEW	553,815	$13,784	3.1%	$24.79	-14.2%	—	29272W109
—	HUDSON PAC PPTYS INC	4,558,816	$12,582	2.8%	$2.76	—	—	444097109
DUK	DUKE ENERGY CORP NEW	99,258	$12,283	2.7%	$111.31	+9.2%	—	26441C204
SO	SOUTHERN CO	129,463	$12,269	2.7%	$92.22	-1.4%	—	842587107
NXPI	NXP SEMICONDUCTORS N V	43,590	$9,927	2.2%	$213.22	+0.2%	—	N6596X109
SPY	SPDR S&P 500 ETF TR	11,981	$7,982	1.8%	$666.18	—	—	78462F103
IWM	ISHARES TR	32,984	$7,981	1.8%	$216.28	—	—	464287655
AESI	ATLAS ENERGY SOLUTIONS INC	660,843	$7,514	1.7%	$14.06	-28.1%	—	642045108
SIG	SIGNET JEWELERS LIMITED	71,137	$6,823	1.5%	$66.15	+43.6%	—	G81276100
VTRS	VIATRIS INC	620,334	$6,141	1.4%	$9.56	+12.1%	—	92556V106
ED	CONSOLIDATED EDISON INC	61,036	$6,135	1.4%	$97.31	+1.5%	—	209115104
PINS	PINTEREST INC	190,600	$6,132	1.4%	$30.93	-6.9%	—	72352L106
AMRZ	AMRIZE LTD	62,251	$3,021	0.7%	$50.99	+0.1%	—	H2927K103
XEL	XCEL ENERGY INC	35,137	$2,834	0.6%	$71.34	+9.7%	—	98389B100
PPL	PPL CORP	76,244	$2,833	0.6%	$32.27	+11.0%	—	69351T106
COO	COOPER COS INC	33,773	$2,315	0.5%	$70.83	+5.7%	—	216648501
GEO	GEO GROUP INC NEW	75,936	$1,556	0.3%	$27.32	-39.0%	—	36162J106
REYN	REYNOLDS CONSUMER PRODS INC	47,009	$1,150	0.3%	$22.09	+7.6%	—	76171L106
SLG	SL GREEN RLTY CORP	15,613	$934	0.2%	$61.90	—	—	78440X887

Decreased Positions (8)

LKQ LKQ CORP 2.6%

Value ($000) $11,654 (-67.2%) Shares 385,879 (-66.8%) Est. Cost $32.36 Unrealized -7.4%

IFF INTERNATIONAL FLAVORS&FRAGRA 2.1%

Value ($000) $9,421 (-64.0%) Shares 139,803 (-67.1%) Est. Cost $71.44 Unrealized -9.9%

PSN PARSONS CORP DEL 3.6%

Value ($000) $16,236 (-47.5%) Shares 262,713 (-29.6%) Est. Cost $74.50 Unrealized +5.1%

LUV SOUTHWEST AIRLS CO 1.3%

Value ($000) $5,795 (-66.6%) Shares 140,208 (-74.2%) Est. Cost $31.68 Unrealized +9.8%

HII HUNTINGTON INGALLS INDS INC 1.4%

Value ($000) $6,141 (-64.9%) Shares 18,057 (-70.3%) Est. Cost $227.56 Unrealized +36.0%

RKT ROCKET COS INC 3.2%

Value ($000) $14,426 (-41.5%) Shares 745,132 (-41.5%) Est. Cost $12.97 Unrealized +37.8%

BEN FRANKLIN RESOURCES INC 2.1%

Value ($000) $9,325 (-46.1%) Shares 390,346 (-47.8%) Est. Cost $20.91 Unrealized +8.4%

PEB PEBBLEBROOK HOTEL TR 2.0%

Value ($000) $8,940 (-28.5%) Shares 789,732 (-28.1%) Est. Cost $10.13 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LKQ	LKQ CORP	385,879 (-66.8%)	$11,654 (-67.2%)	2.6%	$32.36	-7.4%	COM	501889208
IFF	INTERNATIONAL FLAVORS&FRAGRA	139,803 (-67.1%)	$9,421 (-64.0%)	2.1%	$71.44	-9.9%	COM	459506101
PSN	PARSONS CORP DEL	262,713 (-29.6%)	$16,236 (-47.5%)	3.6%	$74.50	+5.1%	COM	70202L102
LUV	SOUTHWEST AIRLS CO	140,208 (-74.2%)	$5,795 (-66.6%)	1.3%	$31.68	+9.8%	COM	844741108
HII	HUNTINGTON INGALLS INDS INC	18,057 (-70.3%)	$6,141 (-64.9%)	1.4%	$227.56	+36.0%	COM	446413106
RKT	ROCKET COS INC	745,132 (-41.5%)	$14,426 (-41.5%)	3.2%	$12.97	+37.8%	COM CL A	77311W101
BEN	FRANKLIN RESOURCES INC	390,346 (-47.8%)	$9,325 (-46.1%)	2.1%	$20.91	+8.4%	COM	354613101
PEB	PEBBLEBROOK HOTEL TR	789,732 (-28.1%)	$8,940 (-28.5%)	2.0%	$10.13	—	COM	70509V100