Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LAD	Lithia Motors, Inc.	498,050 (+8.1%)	$145M (+25.8%)	1.8%	$345.83	—	COM	536797103
WEX	WEX Inc.	770,524 (+1.3%)	$109M (-6.6%)	1.4%	$210.82	—	COM	96208T104
CCK	Crown Holdings, Inc.	119,360 (+23.3%)	$13.35M (+37.5%)	0.2%	$95.27	—	COM	228368106
APTV	Aptiv PLC	164,113 (+15.3%)	$10.07M (+20.3%)	0.1%	$68.13	—	COM	G3265R107
CNXC	Concentrix Corporation	1,386,492 (+16.0%)	$31.06M (-5.0%)	0.4%	$80.15	—	COM	20602D101
SONY	Sony Group Corporation Sponsored ADR	28,045 (+7072.6%)	$563K (+6850.6%)	0.0%	$20.07	—	COM	835699307

Decreased Positions (29)

FLEX Flex Ltd 9.5%

Value $751M (+64.9%) Shares 4,635,010 (-33.4%) Est. Cost $12.54 Unrealized —

NTAP NetApp, Inc. 4.8%

Value $382M (+47.5%) Shares 2,465,831 (-2.4%) Est. Cost $110.78 Unrealized —

SNX TD SYNNEX Corporation 3.9%

Value $309M (+55.8%) Shares 1,157,217 (-1.6%) Est. Cost $78.85 Unrealized —

FFIV F5, Inc. 4.9%

Value $383M (+39.9%) Shares 921,848 (-2.7%) Est. Cost $156.57 Unrealized —

ARW Arrow Electronics, Inc. 3.4%

Value $264M (+45.1%) Shares 1,238,146 (-2.5%) Est. Cost $89.70 Unrealized —

CNC Centene Corporation 2.0%

Value $157M (+89.7%) Shares 2,449,957 (-3.3%) Est. Cost $55.91 Unrealized —

NXPI NXP Semiconductors NV 3.2%

Value $249M (+35.6%) Shares 887,619 (-5.0%) Est. Cost $233.09 Unrealized —

EBAY eBay Inc. 4.8%

Value $380M (+19.6%) Shares 3,400,987 (-2.6%) Est. Cost $54.17 Unrealized —

HCA HCA Healthcare Inc 3.2%

Value $255M (-19.4%) Shares 654,071 (-2.2%) Est. Cost $120.53 Unrealized —

ICLR ICON Plc 1.9%

Value $153M (+47.4%) Shares 881,179 (-6.1%) Est. Cost $178.08 Unrealized —

WCC WESCO International, Inc. 2.5%

Value $199M (+19.7%) Shares 575,980 (-5.2%) Est. Cost $152.60 Unrealized —

JCI Johnson Controls International plc 5.6%

Value $438M (+6.3%) Shares 2,996,423 (-4.8%) Est. Cost $66.66 Unrealized —

AIZ Assurant, Inc. 2.0%

Value $157M (+17.4%) Shares 582,803 (-4.8%) Est. Cost $79.75 Unrealized —

EXPE Expedia Group, Inc. 4.7%

Value $367M (+6.7%) Shares 1,434,628 (-3.7%) Est. Cost $107.29 Unrealized —

AMG Affiliated Managers Group, Inc. 2.0%

Value $160M (+15.2%) Shares 472,886 (-5.8%) Est. Cost $153.26 Unrealized —

SSNC SS&C Technologies Holdings, Inc. 1.7%

Value $138M (-12.0%) Shares 2,220,129 (-4.2%) Est. Cost $85.27 Unrealized —

CPAY Corpay, Inc. 2.5%

Value $197M (+9.7%) Shares 592,382 (-4.2%) Est. Cost $295.91 Unrealized —

NRG NRG Energy, Inc. 5.0%

Value $393M (-3.5%) Shares 2,689,623 (-3.4%) Est. Cost $33.54 Unrealized —

LKQ LKQ Corporation 1.0%

Value $76.18M (-14.9%) Shares 2,893,460 (-5.1%) Est. Cost $38.28 Unrealized —

PRI Primerica, Inc. 1.7%

Value $138M (+8.7%) Shares 484,835 (-4.2%) Est. Cost $172.89 Unrealized —

HSIC Henry Schein, Inc. 1.6%

Value $123M (+7.7%) Shares 1,467,351 (-5.0%) Est. Cost $71.59 Unrealized —

AN AutoNation, Inc. 0.8%

Value $66.96M (-8.7%) Shares 360,418 (-4.1%) Est. Cost $209.36 Unrealized —

AER AerCap Holdings NV 4.6%

Value $362M (+1.4%) Shares 2,483,729 (-4.5%) Est. Cost $43.62 Unrealized —

UBER Uber Technologies, Inc. 3.0%

Value $235M (-1.4%) Shares 3,259,908 (-1.7%) Est. Cost $48.44 Unrealized —

GRAB Grab Holdings Limited Class A 0.0%

Value $1.626M (-58.2%) Shares 431,288 (-59.4%) Est. Cost $5.23 Unrealized —

AMP Ameriprise Financial, Inc. 3.8%

Value $299M (+0.5%) Shares 650,835 (-2.6%) Est. Cost $119.84 Unrealized —

NTDOY Nintendo Co., Ltd. Unsponsored ADR 0.0%

Value $2.561M (-37.3%) Shares 244,323 (-14.5%) Est. Cost $14.62 Unrealized —

SUNB Sunbelt Rentals Holdings Inc 0.2%

Value $13.08M (+5.2%) Shares 174,820 (-8.5%) Est. Cost $65.09 Unrealized —

RSP Invesco S&P 500 Equal Weight ETF 0.0%

Value $208K (-9.1%) Shares 979 (-18.0%) Est. Cost $191.92 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
FLEX	Flex Ltd	4,635,010 (-33.4%)	$751M (+64.9%)	9.5%	$12.54	—	COM	Y2573F102
NTAP	NetApp, Inc.	2,465,831 (-2.4%)	$382M (+47.5%)	4.8%	$110.78	—	COM	64110D104
SNX	TD SYNNEX Corporation	1,157,217 (-1.6%)	$309M (+55.8%)	3.9%	$78.85	—	COM	87162W100
FFIV	F5, Inc.	921,848 (-2.7%)	$383M (+39.9%)	4.9%	$156.57	—	COM	315616102
ARW	Arrow Electronics, Inc.	1,238,146 (-2.5%)	$264M (+45.1%)	3.4%	$89.70	—	COM	042735100
CNC	Centene Corporation	2,449,957 (-3.3%)	$157M (+89.7%)	2.0%	$55.91	—	COM	15135B101
NXPI	NXP Semiconductors NV	887,619 (-5.0%)	$249M (+35.6%)	3.2%	$233.09	—	COM	N6596X109
EBAY	eBay Inc.	3,400,987 (-2.6%)	$380M (+19.6%)	4.8%	$54.17	—	COM	278642103
HCA	HCA Healthcare Inc	654,071 (-2.2%)	$255M (-19.4%)	3.2%	$120.53	—	COM	40412C101
ICLR	ICON Plc	881,179 (-6.1%)	$153M (+47.4%)	1.9%	$178.08	—	COM	G4705A100
WCC	WESCO International, Inc.	575,980 (-5.2%)	$199M (+19.7%)	2.5%	$152.60	—	COM	95082P105
JCI	Johnson Controls International plc	2,996,423 (-4.8%)	$438M (+6.3%)	5.6%	$66.66	—	COM	G51502105
AIZ	Assurant, Inc.	582,803 (-4.8%)	$157M (+17.4%)	2.0%	$79.75	—	COM	04621X108
EXPE	Expedia Group, Inc.	1,434,628 (-3.7%)	$367M (+6.7%)	4.7%	$107.29	—	COM	30212P303
AMG	Affiliated Managers Group, Inc.	472,886 (-5.8%)	$160M (+15.2%)	2.0%	$153.26	—	COM	008252108
SSNC	SS&C Technologies Holdings, Inc.	2,220,129 (-4.2%)	$138M (-12.0%)	1.7%	$85.27	—	COM	78467J100
CPAY	Corpay, Inc.	592,382 (-4.2%)	$197M (+9.7%)	2.5%	$295.91	—	COM	219948106
NRG	NRG Energy, Inc.	2,689,623 (-3.4%)	$393M (-3.5%)	5.0%	$33.54	—	COM	629377508
LKQ	LKQ Corporation	2,893,460 (-5.1%)	$76.18M (-14.9%)	1.0%	$38.28	—	COM	501889208
PRI	Primerica, Inc.	484,835 (-4.2%)	$138M (+8.7%)	1.7%	$172.89	—	COM	74164M108
HSIC	Henry Schein, Inc.	1,467,351 (-5.0%)	$123M (+7.7%)	1.6%	$71.59	—	COM	806407102
AN	AutoNation, Inc.	360,418 (-4.1%)	$66.96M (-8.7%)	0.8%	$209.36	—	COM	05329W102
AER	AerCap Holdings NV	2,483,729 (-4.5%)	$362M (+1.4%)	4.6%	$43.62	—	COM	N00985106
UBER	Uber Technologies, Inc.	3,259,908 (-1.7%)	$235M (-1.4%)	3.0%	$48.44	—	COM	90353T100
GRAB	Grab Holdings Limited Class A	431,288 (-59.4%)	$1.626M (-58.2%)	0.0%	$5.23	—	ADR	G4124C109
AMP	Ameriprise Financial, Inc.	650,835 (-2.6%)	$299M (+0.5%)	3.8%	$119.84	—	COM	03076C106
NTDOY	Nintendo Co., Ltd. Unsponsored ADR	244,323 (-14.5%)	$2.561M (-37.3%)	0.0%	$14.62	—	ADR	654445303
SUNB	Sunbelt Rentals Holdings Inc	174,820 (-8.5%)	$13.08M (+5.2%)	0.2%	$65.09	—	COM	866966104
RSP	Invesco S&P 500 Equal Weight ETF	979 (-18.0%)	$208K (-9.1%)	0.0%	$191.92	—	ETF	46137V357

Unchanged Positions (4)

GEN Gen Digital Inc. 2.5%

Value $199M Shares 7,983,428 Est. Cost $23.13 Unrealized —

FIS Fidelity National Information Services, Inc. 1.8%

Value $142M Shares 3,664,194 Est. Cost $53.92 Unrealized —

GPN Global Payments Inc. 1.7%

Value $133M Shares 1,834,709 Est. Cost $120.07 Unrealized —

CI Cigna Group 2.6%

Value $205M Shares 743,592 Est. Cost $227.96 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GEN	Gen Digital Inc.	7,983,428	$199M	2.5%	$23.13	—	COM	668771108
FIS	Fidelity National Information Services, Inc.	3,664,194	$142M	1.8%	$53.92	—	COM	31620M106
GPN	Global Payments Inc.	1,834,709	$133M	1.7%	$120.07	—	COM	37940X102
CI	Cigna Group	743,592	$205M	2.6%	$227.96	—	COM	125523100