Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NOK	NOKIA CORP-SPON ADR	7,654,181	$49.52M	1.4%	$6.47	—	Equity Depositary Receipts	654902204
TTE	TOTALENERGIES SE	495,465	$32.37M	0.9%	$63.23	0.0%	Common Stocks	F92124100
ACN	ACCENTURE PLC-CL A	25,838	$6.932M	0.2%	$254.06	0.0%	Common Stocks	G1151C101
CNI	CANADIAN NATL RAILWAY CO	20,243	$2.002M	0.1%	$96.14	0.0%	Common Stocks	136375102
NSP	INSPERITY INC	40,270	$1.559M	0.0%	$39.43	0.0%	Common Stocks	45778Q107
BZ	KANZHUN LTD - ADR	67,813	$1.382M	0.0%	$20.38	—	Equity Depositary Receipts	48553T106
FMC	FMC CORP	55,448	$769K	0.0%	$18.96	0.0%	Common Stocks	302491303
MOH	MOLINA HEALTHCARE INC	4,107	$713K	0.0%	$164.37	0.0%	Common Stocks	60855R100
TNET	TRINET GROUP INC	4,978	$294K	0.0%	$59.14	0.0%	Common Stocks	896288107
CMCSA	COMCAST CORP-CLASS A	7,075	$211K	0.0%	$28.53	0.0%	Common Stocks	20030N101
MU	MICRON TECHNOLOGY INC	719	$205K	0.0%	$229.35	0.0%	Common Stocks	595112103

Increased Positions (12)

XP XP INC - CLASS A 8.9%

Value $326M (+90.9%) Shares 19,900,087 (+119.2%) Est. Cost $17.75 Unrealized -0.8%

MGA MAGNA INTERNATIONAL INC 6.1%

Value $224M (+13.7%) Shares 4,193,129 (+1.1%) Est. Cost $40.92 Unrealized +19.4%

ALK ALASKA AIR GROUP INC 1.0%

Value $37.94M (+203.5%) Shares 754,321 (+200.3%) Est. Cost $44.92 Unrealized +2.9%

NXPI NXP SEMICONDUCTORS NV 1.5%

Value $56.69M (+26.6%) Shares 261,182 (+32.8%) Est. Cost $199.14 Unrealized +7.3%

ELV ELEVANCE HEALTH INC 2.7%

Value $97.37M (+13.5%) Shares 277,755 (+4.6%) Est. Cost $309.41 Unrealized +8.8%

DOW DOW INC 0.4%

Value $15.32M (+185.7%) Shares 655,050 (+180.2%) Est. Cost $24.62 Unrealized -7.5%

LYB LYONDELLBASELL INDU-CL A 0.1%

Value $3.309M (+83.3%) Shares 76,414 (+107.6%) Est. Cost $51.23 Unrealized -13.2%

CNQ CANADIAN NATURAL RESOURCES 0.1%

Value $4.936M (+28.0%) Shares 145,811 (+20.9%) Est. Cost $31.51 Unrealized +2.9%

BCC BOISE CASCADE CO 0.0%

Value $1.747M (+16.5%) Shares 23,739 (+22.4%) Est. Cost $82.94 Unrealized -12.3%

SLM SLM CORP 0.0%

Value $1.826M (+13.2%) Shares 67,479 (+15.8%) Est. Cost $26.58 Unrealized +3.2%

CZR CAESARS ENTERTAINMENT INC 0.0%

Value $1.719M (+12.5%) Shares 73,499 (+29.9%) Est. Cost $32.92 Unrealized -31.7%

PVH PVH CORP 0.0%

Value $270K (-11.0%) Shares 4,028 (+11.3%) Est. Cost $97.19 Unrealized -19.6%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
XP	XP INC - CLASS A	19,900,087 (+119.2%)	$326M (+90.9%)	8.9%	$17.75	-0.8%	Common Stocks	G98239109
MGA	MAGNA INTERNATIONAL INC	4,193,129 (+1.1%)	$224M (+13.7%)	6.1%	$40.92	+19.4%	Common Stocks	559222401
ALK	ALASKA AIR GROUP INC	754,321 (+200.3%)	$37.94M (+203.5%)	1.0%	$44.92	+2.9%	Common Stocks	011659109
NXPI	NXP SEMICONDUCTORS NV	261,182 (+32.8%)	$56.69M (+26.6%)	1.5%	$199.14	+7.3%	Common Stocks	N6596X109
ELV	ELEVANCE HEALTH INC	277,755 (+4.6%)	$97.37M (+13.5%)	2.7%	$309.41	+8.8%	Common Stocks	036752103
DOW	DOW INC	655,050 (+180.2%)	$15.32M (+185.7%)	0.4%	$24.62	-7.5%	Common Stocks	260557103
LYB	LYONDELLBASELL INDU-CL A	76,414 (+107.6%)	$3.309M (+83.3%)	0.1%	$51.23	-13.2%	Common Stocks	N53745100
CNQ	CANADIAN NATURAL RESOURCES	145,811 (+20.9%)	$4.936M (+28.0%)	0.1%	$31.51	+2.9%	Common Stocks	136385101
BCC	BOISE CASCADE CO	23,739 (+22.4%)	$1.747M (+16.5%)	0.0%	$82.94	-12.3%	Common Stocks	09739D100
SLM	SLM CORP	67,479 (+15.8%)	$1.826M (+13.2%)	0.0%	$26.58	+3.2%	Common Stocks	78442P106
CZR	CAESARS ENTERTAINMENT INC	73,499 (+29.9%)	$1.719M (+12.5%)	0.0%	$32.92	-31.7%	Common Stocks	12769G100
PVH	PVH CORP	4,028 (+11.3%)	$270K (-11.0%)	0.0%	$97.19	-19.6%	Common Stocks	693656100

Exited Positions (11)

BAC BANK OF AMERICA CORP 1.0%

Value $38.39M Shares 744,228 Est. Cost $41.47 Unrealized +27.0%

QCOM QUALCOMM INC 0.5%

Value $18.56M Shares 111,556 Est. Cost $157.69 Unrealized +8.3%

LBTYA LIBERTY GLOBAL LTD-A 0.4%

Value $16.5M Shares 1,439,359 Est. Cost $10.38 Unrealized +6.6%

ZBH ZIMMER BIOMET HOLDINGS INC 0.4%

Value $15.22M Shares 154,539 Est. Cost $98.59 Unrealized -4.1%

TGT TARGET CORP 0.1%

Value $3.892M Shares 43,389 Est. Cost $93.31 Unrealized -1.8%

RNR RENAISSANCERE HOLDINGS LTD 0.1%

Value $2.788M Shares 10,979 Est. Cost $232.06 Unrealized +13.4%

JHG JANUS HENDERSON GROUP PLC 0.1%

Value $2.721M Shares 61,127 Est. Cost $35.44 Unrealized +24.8%

SIG SIGNET JEWELERS LTD 0.0%

Value $347K Shares 3,622 Est. Cost $79.83 Unrealized +19.0%

IPGP IPG PHOTONICS CORP 0.0%

Value $313K Shares 3,947 Est. Cost $90.07 Unrealized -9.4%

STC STEWART INFORMATION SERVICES 0.0%

Value $306K Shares 4,180 Est. Cost $47.43 Unrealized +51.8%

KMT KENNAMETAL INC 0.0%

Value $257K Shares 12,259 Est. Cost $21.65 Unrealized +17.1%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BAC	BANK OF AMERICA CORP	744,228	$38.39M	1.0%	$41.47	+27.0%	—	060505104
QCOM	QUALCOMM INC	111,556	$18.56M	0.5%	$157.69	+8.3%	—	747525103
LBTYA	LIBERTY GLOBAL LTD-A	1,439,359	$16.5M	0.4%	$10.38	+6.6%	—	G61188101
ZBH	ZIMMER BIOMET HOLDINGS INC	154,539	$15.22M	0.4%	$98.59	-4.1%	—	98956P102
TGT	TARGET CORP	43,389	$3.892M	0.1%	$93.31	-1.8%	—	87612E106
RNR	RENAISSANCERE HOLDINGS LTD	10,979	$2.788M	0.1%	$232.06	+13.4%	—	G7496G103
JHG	JANUS HENDERSON GROUP PLC	61,127	$2.721M	0.1%	$35.44	+24.8%	—	G4474Y214
SIG	SIGNET JEWELERS LTD	3,622	$347K	0.0%	$79.83	+19.0%	—	G81276100
IPGP	IPG PHOTONICS CORP	3,947	$313K	0.0%	$90.07	-9.4%	—	44980X109
STC	STEWART INFORMATION SERVICES	4,180	$306K	0.0%	$47.43	+51.8%	—	860372101
KMT	KENNAMETAL INC	12,259	$257K	0.0%	$21.65	+17.1%	—	489170100

Decreased Positions (31)

TCOM TRIP.COM GROUP LTD-ADR 7.7%

Value $284M (-18.5%) Shares 3,944,185 (-14.8%) Est. Cost $44.21 Unrealized —

UBS UBS GROUP AG-REG 0.1%

Value $4.349M (-93.7%) Shares 93,216 (-94.5%) Est. Cost $20.17 Unrealized +100.4%

MLCO MELCO RESORTS & ENTERT-ADR 4.7%

Value $173M (-25.1%) Shares 22,852,595 (-9.3%) Est. Cost $10.46 Unrealized —

BABA ALIBABA GROUP HOLDING-SP ADR 0.7%

Value $25.97M (-67.9%) Shares 177,174 (-60.9%) Est. Cost $87.00 Unrealized —

MHK MOHAWK INDUSTRIES INC 0.8%

Value $28.39M (-54.9%) Shares 259,764 (-46.9%) Est. Cost $122.56 Unrealized -6.3%

NTR NUTRIEN LTD 8.9%

Value $328M (-6.3%) Shares 5,308,601 (-10.8%) Est. Cost $51.38 Unrealized +14.5%

TROW T ROWE PRICE GROUP INC 1.1%

Value $41.63M (-28.7%) Shares 406,648 (-28.5%) Est. Cost $91.21 Unrealized +12.0%

LVS LAS VEGAS SANDS CORP 6.0%

Value $222M (-6.6%) Shares 3,405,478 (-22.8%) Est. Cost $43.07 Unrealized +42.1%

AA ALCOA CORP 1.0%

Value $36.62M (-28.9%) Shares 689,217 (-56.0%) Est. Cost $35.78 Unrealized +14.2%

GLOB GLOBANT SA 3.6%

Value $133M (+12.3%) Shares 2,028,759 (-1.4%) Est. Cost $73.84 Unrealized -14.9%

HAL HALLIBURTON CO 0.6%

Value $22.72M (-38.6%) Shares 804,096 (-46.6%) Est. Cost $21.87 Unrealized +20.2%

BBD BANCO BRADESCO-ADR 10.2%

Value $375M (-3.1%) Shares 112,650,293 (-1.6%) Est. Cost $2.19 Unrealized —

EPAM EPAM SYSTEMS INC 1.1%

Value $39.66M (+33.8%) Shares 193,598 (-1.6%) Est. Cost $167.17 Unrealized +6.6%

C CITIGROUP INC 0.0%

Value $214K (-96.9%) Shares 1,832 (-97.3%) Est. Cost $71.28 Unrealized +45.4%

PTEN PATTERSON-UTI ENERGY INC 0.7%

Value $24.51M (-21.2%) Shares 4,012,091 (-33.2%) Est. Cost $8.22 Unrealized -27.4%

LEA LEAR CORP 1.2%

Value $45.28M (-9.8%) Shares 395,146 (-20.8%) Est. Cost $117.73 Unrealized -9.7%

AER AERCAP HOLDINGS NV 0.1%

Value $2.284M (-39.4%) Shares 15,889 (-49.0%) Est. Cost $95.82 Unrealized +38.2%

ABEV AMBEV SA-ADR 0.0%

Value $1.475M (-40.4%) Shares 597,022 (-46.2%) Est. Cost $2.23 Unrealized —

VSCO VICTORIA'S SECRET & CO 0.1%

Value $2.753M (+44.5%) Shares 50,830 (-27.6%) Est. Cost $23.33 Unrealized +70.3%

CPRI CAPRI HOLDINGS LTD 0.1%

Value $3.745M (+17.8%) Shares 153,471 (-3.8%) Est. Cost $31.02 Unrealized -25.5%

SHG SHINHAN FINANCIAL GROUP-ADR 0.0%

Value $274K (-60.4%) Shares 5,107 (-62.8%) Est. Cost $26.49 Unrealized —

WCC WESCO INTERNATIONAL INC 0.1%

Value $3.124M (+13.4%) Shares 12,768 (-1.9%) Est. Cost $150.11 Unrealized +63.2%

NWL NEWELL BRANDS INC 0.0%

Value $114K (-76.0%) Shares 30,700 (-66.2%) Est. Cost $7.44 Unrealized -46.4%

UGI UGI CORP 0.0%

Value $1.081M (-19.0%) Shares 28,892 (-28.0%) Est. Cost $23.95 Unrealized +47.9%

THO THOR INDUSTRIES INC 0.0%

Value $1.248M (-16.5%) Shares 12,155 (-15.7%) Est. Cost $104.67 Unrealized -1.3%

KFY KORN FERRY 0.0%

Value $1.699M (-11.5%) Shares 25,732 (-6.2%) Est. Cost $59.10 Unrealized +13.1%

IVZ INVESCO LTD 0.0%

Value $1.702M (+11.7%) Shares 64,792 (-2.5%) Est. Cost $13.15 Unrealized +85.0%

PII POLARIS INC 0.0%

Value $1.365M (-10.9%) Shares 21,581 (-18.1%) Est. Cost $81.67 Unrealized -19.4%

GGB GERDAU SA -SPON ADR 0.0%

Value $892K (+14.0%) Shares 241,625 (-4.3%) Est. Cost $4.71 Unrealized —

BANC BANC OF CALIFORNIA INC 0.0%

Value $1.704M (-1.5%) Shares 88,333 (-15.5%) Est. Cost $15.51 Unrealized +15.1%

HCC WARRIOR MET COAL INC 0.0%

Value $296K (-7.6%) Shares 3,361 (-33.3%) Est. Cost $31.17 Unrealized +141.2%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TCOM	TRIP.COM GROUP LTD-ADR	3,944,185 (-14.8%)	$284M (-18.5%)	7.7%	$44.21	—	Equity Depositary Receipts	89677Q107
UBS	UBS GROUP AG-REG	93,216 (-94.5%)	$4.349M (-93.7%)	0.1%	$20.17	+100.4%	Common Stocks	H42097107
MLCO	MELCO RESORTS & ENTERT-ADR	22,852,595 (-9.3%)	$173M (-25.1%)	4.7%	$10.46	—	Equity Depositary Receipts	585464100
BABA	ALIBABA GROUP HOLDING-SP ADR	177,174 (-60.9%)	$25.97M (-67.9%)	0.7%	$87.00	—	Equity Depositary Receipts	01609W102
MHK	MOHAWK INDUSTRIES INC	259,764 (-46.9%)	$28.39M (-54.9%)	0.8%	$122.56	-6.3%	Common Stocks	608190104
NTR	NUTRIEN LTD	5,308,601 (-10.8%)	$328M (-6.3%)	8.9%	$51.38	+14.5%	Common Stocks	67077M108
TROW	T ROWE PRICE GROUP INC	406,648 (-28.5%)	$41.63M (-28.7%)	1.1%	$91.21	+12.0%	Common Stocks	74144T108
LVS	LAS VEGAS SANDS CORP	3,405,478 (-22.8%)	$222M (-6.6%)	6.0%	$43.07	+42.1%	Common Stocks	517834107
AA	ALCOA CORP	689,217 (-56.0%)	$36.62M (-28.9%)	1.0%	$35.78	+14.2%	Common Stocks	013872106
GLOB	GLOBANT SA	2,028,759 (-1.4%)	$133M (+12.3%)	3.6%	$73.84	-14.9%	Common Stocks	L44385109
HAL	HALLIBURTON CO	804,096 (-46.6%)	$22.72M (-38.6%)	0.6%	$21.87	+20.2%	Common Stocks	406216101
BBD	BANCO BRADESCO-ADR	112,650,293 (-1.6%)	$375M (-3.1%)	10.2%	$2.19	—	Equity Depositary Receipts	059460303
EPAM	EPAM SYSTEMS INC	193,598 (-1.6%)	$39.66M (+33.8%)	1.1%	$167.17	+6.6%	Common Stocks	29414B104
C	CITIGROUP INC	1,832 (-97.3%)	$214K (-96.9%)	0.0%	$71.28	+45.4%	Common Stocks	172967424
PTEN	PATTERSON-UTI ENERGY INC	4,012,091 (-33.2%)	$24.51M (-21.2%)	0.7%	$8.22	-27.4%	Common Stocks	703481101
LEA	LEAR CORP	395,146 (-20.8%)	$45.28M (-9.8%)	1.2%	$117.73	-9.7%	Common Stocks	521865204
AER	AERCAP HOLDINGS NV	15,889 (-49.0%)	$2.284M (-39.4%)	0.1%	$95.82	+38.2%	Common Stocks	N00985106
ABEV	AMBEV SA-ADR	597,022 (-46.2%)	$1.475M (-40.4%)	0.0%	$2.23	—	Equity Depositary Receipts	02319V103
VSCO	VICTORIA'S SECRET & CO	50,830 (-27.6%)	$2.753M (+44.5%)	0.1%	$23.33	+70.3%	Common Stocks	926400102
CPRI	CAPRI HOLDINGS LTD	153,471 (-3.8%)	$3.745M (+17.8%)	0.1%	$31.02	-25.5%	Common Stocks	G1890L107
SHG	SHINHAN FINANCIAL GROUP-ADR	5,107 (-62.8%)	$274K (-60.4%)	0.0%	$26.49	—	Equity Depositary Receipts	824596100
WCC	WESCO INTERNATIONAL INC	12,768 (-1.9%)	$3.124M (+13.4%)	0.1%	$150.11	+63.2%	Common Stocks	95082P105
NWL	NEWELL BRANDS INC	30,700 (-66.2%)	$114K (-76.0%)	0.0%	$7.44	-46.4%	Common Stocks	651229106
UGI	UGI CORP	28,892 (-28.0%)	$1.081M (-19.0%)	0.0%	$23.95	+47.9%	Common Stocks	902681105
THO	THOR INDUSTRIES INC	12,155 (-15.7%)	$1.248M (-16.5%)	0.0%	$104.67	-1.3%	Common Stocks	885160101
KFY	KORN FERRY	25,732 (-6.2%)	$1.699M (-11.5%)	0.0%	$59.10	+13.1%	Common Stocks	500643200
IVZ	INVESCO LTD	64,792 (-2.5%)	$1.702M (+11.7%)	0.0%	$13.15	+85.0%	Common Stocks	G491BT108
PII	POLARIS INC	21,581 (-18.1%)	$1.365M (-10.9%)	0.0%	$81.67	-19.4%	Common Stocks	731068102
GGB	GERDAU SA -SPON ADR	241,625 (-4.3%)	$892K (+14.0%)	0.0%	$4.71	—	Equity Depositary Receipts	373737105
BANC	BANC OF CALIFORNIA INC	88,333 (-15.5%)	$1.704M (-1.5%)	0.0%	$15.51	+15.1%	Common Stocks	05990K106
HCC	WARRIOR MET COAL INC	3,361 (-33.3%)	$296K (-7.6%)	0.0%	$31.17	+141.2%	Common Stocks	93627C101

Unchanged Positions (56)

TSM TAIWAN SEMICONDUCTOR-SP ADR 5.5%

Value $203M Shares 668,021 Est. Cost $78.51 Unrealized —

BAP CREDICORP LTD 5.5%

Value $200M Shares 698,243 Est. Cost $123.64 Unrealized +114.1%

PBR PETROLEO BRASILEIRO-SPON ADR 6.1%

Value $225M Shares 18,975,177 Est. Cost $11.21 Unrealized —

LCII LCI INDUSTRIES 0.9%

Value $31.55M Shares 260,001 Est. Cost $84.19 Unrealized +25.6%

MRK MERCK & CO. INC. 0.9%

Value $31.31M Shares 297,409 Est. Cost $80.51 Unrealized +15.8%

MAN MANPOWERGROUP INC 0.5%

Value $18.2M Shares 612,203 Est. Cost $59.80 Unrealized -47.8%

ARW ARROW ELECTRONICS INC 1.0%

Value $37.87M Shares 343,667 Est. Cost $113.83 Unrealized -0.2%

BBWI BATH & BODY WORKS INC 0.3%

Value $12.44M Shares 619,722 Est. Cost $28.91 Unrealized -24.9%

CNC CENTENE CORP 0.7%

Value $24.76M Shares 601,679 Est. Cost $30.20 Unrealized +23.9%

BAX BAXTER INTERNATIONAL INC 0.4%

Value $15.65M Shares 819,011 Est. Cost $33.78 Unrealized -40.8%

HDB HDFC BANK LTD-ADR 1.0%

Value $38.5M Shares 1,053,708 Est. Cost $57.42 Unrealized —

CTSH COGNIZANT TECH SOLUTIONS-A 0.3%

Value $11.7M Shares 140,966 Est. Cost $74.92 Unrealized -0.3%

RY ROYAL BANK OF CANADA 0.1%

Value $5.428M Shares 31,843 Est. Cost $122.31 Unrealized +25.6%

HUM HUMANA INC 1.6%

Value $57.13M Shares 223,064 Est. Cost $257.68 Unrealized +1.4%

ACHC ACADIA HEALTHCARE CO INC 0.0%

Value $625K Shares 44,031 Est. Cost $22.31 Unrealized -15.2%

BIDU BAIDU INC - SPON ADR 1.1%

Value $39.57M Shares 302,873 Est. Cost $131.77 Unrealized —

WD WALKER & DUNLOP INC 0.0%

Value $1.089M Shares 18,113 Est. Cost $80.21 Unrealized -12.1%

VALE VALE SA-SP ADR 0.1%

Value $2.376M Shares 182,364 Est. Cost $10.86 Unrealized —

ONTO ONTO INNOVATION INC 0.1%

Value $1.94M Shares 12,291 Est. Cost $106.80 Unrealized +33.0%

ACLS AXCELIS TECHNOLOGIES INC 0.0%

Value $1.489M Shares 18,534 Est. Cost $57.05 Unrealized +46.8%

CRC CALIFORNIA RESOURCES CORP 0.0%

Value $1.678M Shares 37,541 Est. Cost $45.83 Unrealized +2.9%

OLN OLIN CORP 0.0%

Value $1.246M Shares 59,813 Est. Cost $46.04 Unrealized -53.4%

GSL GLOBAL SHIP LEASE INC-CL A 0.1%

Value $1.878M Shares 53,602 Est. Cost $26.57 Unrealized +22.3%

COLB COLUMBIA BANKING SYSTEM INC 0.1%

Value $2.517M Shares 90,047 Est. Cost $18.45 Unrealized +45.6%

JAZZ JAZZ PHARMACEUTICALS PLC 0.0%

Value $879K Shares 5,172 Est. Cost $114.09 Unrealized +34.4%

AVT AVNET INC 0.1%

Value $2.135M Shares 44,407 Est. Cost $51.16 Unrealized -4.4%

AMN AMN HEALTHCARE SERVICES INC 0.0%

Value $722K Shares 45,782 Est. Cost $19.53 Unrealized -8.6%

— INDIVIOR PLC 0.0%

Value $473K Shares 13,169 Est. Cost $24.11 Unrealized —

KELYA KELLY SERVICES INC -A 0.0%

Value $300K Shares 34,037 Est. Cost $18.92 Unrealized -46.6%

WYNN WYNN RESORTS LTD 0.1%

Value $1.952M Shares 16,225 Est. Cost $81.73 Unrealized +51.2%

WB WEIBO CORP-SPON ADR 0.0%

Value $533K Shares 52,156 Est. Cost $12.40 Unrealized —

FAF FIRST AMERICAN FINANCIAL 0.1%

Value $2.099M Shares 34,171 Est. Cost $57.78 Unrealized +7.9%

AMWD AMERICAN WOODMARK CORP 0.0%

Value $396K Shares 7,352 Est. Cost $48.90 Unrealized +19.7%

CC CHEMOURS CO/THE 0.0%

Value $238K Shares 20,150 Est. Cost $22.32 Unrealized -42.7%

CHRD CHORD ENERGY CORP 0.0%

Value $1.103M Shares 11,900 Est. Cost $108.02 Unrealized -14.9%

OGN ORGANON & CO 0.0%

Value $149K Shares 20,735 Est. Cost $9.78 Unrealized -19.3%

LEG LEGGETT & PLATT INC 0.0%

Value $357K Shares 32,420 Est. Cost $9.53 Unrealized +3.3%

CRI CARTER'S INC 0.0%

Value $504K Shares 15,530 Est. Cost $62.91 Unrealized -50.6%

JXN JACKSON FINANCIAL INC-A 0.0%

Value $1.257M Shares 11,788 Est. Cost $92.07 Unrealized +7.4%

NVST ENVISTA HOLDINGS CORP 0.0%

Value $1.013M Shares 46,644 Est. Cost $20.54 Unrealized -0.1%

VET VERMILION ENERGY INC 0.0%

Value $877K Shares 105,369 Est. Cost $8.74 Unrealized -5.6%

ICHR ICHOR HOLDINGS LTD 0.0%

Value $1.076M Shares 58,390 Est. Cost $30.85 Unrealized -39.9%

AGO ASSURED GUARANTY LTD 0.0%

Value $713K Shares 7,938 Est. Cost $63.43 Unrealized +36.0%

CNXC CONCENTRIX CORP 0.0%

Value $283K Shares 6,798 Est. Cost $42.84 Unrealized -6.4%

INMD INMODE LTD 0.1%

Value $2.11M Shares 143,658 Est. Cost $14.63 Unrealized +0.6%

SON SONOCO PRODUCTS CO 0.1%

Value $2.143M Shares 49,097 Est. Cost $45.36 Unrealized -9.2%

APAM ARTISAN PARTNERS ASSET MA -A 0.0%

Value $362K Shares 8,885 Est. Cost $23.36 Unrealized +74.3%

PLOW DOUGLAS DYNAMICS INC 0.0%

Value $535K Shares 16,386 Est. Cost $25.07 Unrealized +26.2%

VSH VISHAY INTERTECHNOLOGY INC 0.0%

Value $370K Shares 25,563 Est. Cost $17.87 Unrealized -15.6%

LZB LA-Z-BOY INC 0.0%

Value $255K Shares 6,851 Est. Cost $33.32 Unrealized +5.1%

HLX HELIX ENERGY SOLUTIONS GROUP 0.0%

Value $373K Shares 59,441 Est. Cost $9.73 Unrealized -31.7%

SKM SK TELECOM CO LTD-SPON ADR 0.0%

Value $286K Shares 13,940 Est. Cost $26.67 Unrealized —

NAVI NAVIENT CORP 0.0%

Value $637K Shares 48,972 Est. Cost $15.94 Unrealized -21.9%

ATKR ATKORE INC 0.0%

Value $721K Shares 11,401 Est. Cost $63.84 Unrealized +1.3%

ASO ACADEMY SPORTS & OUTDOORS IN 0.1%

Value $1.964M Shares 39,312 Est. Cost $50.81 Unrealized -2.6%

HTGC HERCULES CAPITAL INC 0.0%

Value $211K Shares 11,223 Est. Cost $19.17 Unrealized -5.9%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TSM	TAIWAN SEMICONDUCTOR-SP ADR	668,021	$203M	5.5%	$78.51	—	Equity Depositary Receipts	874039100
BAP	CREDICORP LTD	698,243	$200M	5.5%	$123.64	+114.1%	Common Stocks	G2519Y108
PBR	PETROLEO BRASILEIRO-SPON ADR	18,975,177	$225M	6.1%	$11.21	—	Equity Depositary Receipts	71654V408
LCII	LCI INDUSTRIES	260,001	$31.55M	0.9%	$84.19	+25.6%	Common Stocks	50189K103
MRK	MERCK & CO. INC.	297,409	$31.31M	0.9%	$80.51	+15.8%	Common Stocks	58933Y105
MAN	MANPOWERGROUP INC	612,203	$18.2M	0.5%	$59.80	-47.8%	Common Stocks	56418H100
ARW	ARROW ELECTRONICS INC	343,667	$37.87M	1.0%	$113.83	-0.2%	Common Stocks	042735100
BBWI	BATH & BODY WORKS INC	619,722	$12.44M	0.3%	$28.91	-24.9%	Common Stocks	070830104
CNC	CENTENE CORP	601,679	$24.76M	0.7%	$30.20	+23.9%	Common Stocks	15135B101
BAX	BAXTER INTERNATIONAL INC	819,011	$15.65M	0.4%	$33.78	-40.8%	Common Stocks	071813109
HDB	HDFC BANK LTD-ADR	1,053,708	$38.5M	1.0%	$57.42	—	Equity Depositary Receipts	40415F101
CTSH	COGNIZANT TECH SOLUTIONS-A	140,966	$11.7M	0.3%	$74.92	-0.3%	Common Stocks	192446102
RY	ROYAL BANK OF CANADA	31,843	$5.428M	0.1%	$122.31	+25.6%	Common Stocks	780087102
HUM	HUMANA INC	223,064	$57.13M	1.6%	$257.68	+1.4%	Common Stocks	444859102
ACHC	ACADIA HEALTHCARE CO INC	44,031	$625K	0.0%	$22.31	-15.2%	Common Stocks	00404A109
BIDU	BAIDU INC - SPON ADR	302,873	$39.57M	1.1%	$131.77	—	Equity Depositary Receipts	056752108
WD	WALKER & DUNLOP INC	18,113	$1.089M	0.0%	$80.21	-12.1%	Common Stocks	93148P102
VALE	VALE SA-SP ADR	182,364	$2.376M	0.1%	$10.86	—	Equity Depositary Receipts	91912E105
ONTO	ONTO INNOVATION INC	12,291	$1.94M	0.1%	$106.80	+33.0%	Common Stocks	683344105
ACLS	AXCELIS TECHNOLOGIES INC	18,534	$1.489M	0.0%	$57.05	+46.8%	Common Stocks	054540208
CRC	CALIFORNIA RESOURCES CORP	37,541	$1.678M	0.0%	$45.83	+2.9%	Common Stocks	13057Q305
OLN	OLIN CORP	59,813	$1.246M	0.0%	$46.04	-53.4%	Common Stocks	680665205
GSL	GLOBAL SHIP LEASE INC-CL A	53,602	$1.878M	0.1%	$26.57	+22.3%	Common Stocks	Y27183600
COLB	COLUMBIA BANKING SYSTEM INC	90,047	$2.517M	0.1%	$18.45	+45.6%	Common Stocks	197236102
JAZZ	JAZZ PHARMACEUTICALS PLC	5,172	$879K	0.0%	$114.09	+34.4%	Common Stocks	G50871105
AVT	AVNET INC	44,407	$2.135M	0.1%	$51.16	-4.4%	Common Stocks	053807103
AMN	AMN HEALTHCARE SERVICES INC	45,782	$722K	0.0%	$19.53	-8.6%	Common Stocks	001744101
—	INDIVIOR PLC	13,169	$473K	0.0%	$24.11	—	Common Stocks	G4766E116
KELYA	KELLY SERVICES INC -A	34,037	$300K	0.0%	$18.92	-46.6%	Common Stocks	488152208
WYNN	WYNN RESORTS LTD	16,225	$1.952M	0.1%	$81.73	+51.2%	Common Stocks	983134107
WB	WEIBO CORP-SPON ADR	52,156	$533K	0.0%	$12.40	—	Equity Depositary Receipts	948596101
FAF	FIRST AMERICAN FINANCIAL	34,171	$2.099M	0.1%	$57.78	+7.9%	Common Stocks	31847R102
AMWD	AMERICAN WOODMARK CORP	7,352	$396K	0.0%	$48.90	+19.7%	Common Stocks	030506109
CC	CHEMOURS CO/THE	20,150	$238K	0.0%	$22.32	-42.7%	Common Stocks	163851108
CHRD	CHORD ENERGY CORP	11,900	$1.103M	0.0%	$108.02	-14.9%	Common Stocks	674215207
OGN	ORGANON & CO	20,735	$149K	0.0%	$9.78	-19.3%	Common Stocks	68622V106
LEG	LEGGETT & PLATT INC	32,420	$357K	0.0%	$9.53	+3.3%	Common Stocks	524660107
CRI	CARTER'S INC	15,530	$504K	0.0%	$62.91	-50.6%	Common Stocks	146229109
JXN	JACKSON FINANCIAL INC-A	11,788	$1.257M	0.0%	$92.07	+7.4%	Common Stocks	46817M107
NVST	ENVISTA HOLDINGS CORP	46,644	$1.013M	0.0%	$20.54	-0.1%	Common Stocks	29415F104
VET	VERMILION ENERGY INC	105,369	$877K	0.0%	$8.74	-5.6%	Common Stocks	923725105
ICHR	ICHOR HOLDINGS LTD	58,390	$1.076M	0.0%	$30.85	-39.9%	Common Stocks	G4740B105
AGO	ASSURED GUARANTY LTD	7,938	$713K	0.0%	$63.43	+36.0%	Common Stocks	G0585R106
CNXC	CONCENTRIX CORP	6,798	$283K	0.0%	$42.84	-6.4%	Common Stocks	20602D101
INMD	INMODE LTD	143,658	$2.11M	0.1%	$14.63	+0.6%	Common Stocks	M5425M103
SON	SONOCO PRODUCTS CO	49,097	$2.143M	0.1%	$45.36	-9.2%	Common Stocks	835495102
APAM	ARTISAN PARTNERS ASSET MA -A	8,885	$362K	0.0%	$23.36	+74.3%	Common Stocks	04316A108
PLOW	DOUGLAS DYNAMICS INC	16,386	$535K	0.0%	$25.07	+26.2%	Common Stocks	25960R105
VSH	VISHAY INTERTECHNOLOGY INC	25,563	$370K	0.0%	$17.87	-15.6%	Common Stocks	928298108
LZB	LA-Z-BOY INC	6,851	$255K	0.0%	$33.32	+5.1%	Common Stocks	505336107
HLX	HELIX ENERGY SOLUTIONS GROUP	59,441	$373K	0.0%	$9.73	-31.7%	Common Stocks	42330P107
SKM	SK TELECOM CO LTD-SPON ADR	13,940	$286K	0.0%	$26.67	—	Equity Depositary Receipts	78440P306
NAVI	NAVIENT CORP	48,972	$637K	0.0%	$15.94	-21.9%	Common Stocks	63938C108
ATKR	ATKORE INC	11,401	$721K	0.0%	$63.84	+1.3%	Common Stocks	047649108
ASO	ACADEMY SPORTS & OUTDOORS IN	39,312	$1.964M	0.1%	$50.81	-2.6%	Common Stocks	00402L107
HTGC	HERCULES CAPITAL INC	11,223	$211K	0.0%	$19.17	-5.9%	Common Stocks	427096508