Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
COF	CAPITAL ONE FINL CORP	330,696	$66.14M	4.4%	$199.99	—	COM	14040H105
WFC	WELLS FARGO & CO	539,621	$44.45M	2.9%	$82.38	—	COM	949746101
FIS	FIDELITY NATL INFORMATION SV	1,067,408	$41.37M	2.7%	$38.76	—	COM	31620M106
TPG	TPG INC	798,856	$32.29M	2.1%	$40.42	—	COM CL A	872657101
SCHW	SCHWAB CHARLES CORP	252,717	$23.24M	1.5%	$91.98	—	COM	808513105
HDB	HDFC BANK LTD	877,580	$22.6M	1.5%	$25.75	—	SPONSORED ADS	40415F101
WU	WESTERN UN CO	2,765,094	$21.22M	1.4%	$7.68	—	COM	959802109
ICE	INTERCONTINENTAL EXCHANGE IN	133,149	$16.34M	1.1%	$122.72	—	COM	45866F104
DX	DYNEX CAP INC	1,193,447	$15.6M	1.0%	$13.07	—	COM	26817Q886
MA	MASTERCARD INCORPORATED	23,816	$12.19M	0.8%	$511.98	—	CL A	57636Q104
FISV	FISERV INC	205,954	$10.07M	0.7%	$48.90	—	COM	337738108
V	VISA INC	23,906	$8.176M	0.5%	$342.01	—	COM CL A	92826C839
MRSH	MARSH & MCLENNAN COS INC	47,996	$7.974M	0.5%	$166.15	—	COM	571748102
NVDA	NVIDIA CORPORATION	11,098	$2.214M	0.1%	$199.46	—	COM	67066G104
FCBM	FIRST CAROLINA FINL SVCS INC	130,888	$1.728M	0.1%	$13.20	—	COMMON STOCK	31943F200
TSM	TAIWAN SEMICONDUCTOR MANUFAC	3,236	$1.541M	0.1%	$476.07	—	SPONSORED ADS	874039100
AMAT	APPLIED MATLS INC	2,028	$1.462M	0.1%	$720.72	—	COM	038222105
CDNS	CADENCE DESIGN SYSTEM INC	3,280	$1.227M	0.1%	$374.14	—	COM	127387108
LITE	LUMENTUM HLDGS INC	1,080	$924K	0.1%	$855.36	—	COM	55024U109
VIAV	VIAVI SOLUTIONS INC	18,844	$897K	0.1%	$47.60	—	COM	925550105
BE	BLOOM ENERGY CORP	2,651	$800K	0.1%	$301.75	—	COM CL A	093712107
INTC	INTEL CORP	5,702	$794K	0.1%	$139.19	—	COM	458140100
NMR	NOMURA HLDGS INC	15,762	$138K	0.0%	$8.75	—	SPONSORED ADR	65535H208

Increased Positions (21)

GPN GLOBAL PMTS INC 6.0%

Value $91.29M (+117.5%) Shares 1,262,105 (+102.0%) Est. Cost $75.81 Unrealized —

AIG AMERICAN INTL GROUP INC 6.0%

Value $91.77M (+96.3%) Shares 1,235,231 (+98.4%) Est. Cost $76.46 Unrealized —

SF STIFEL FINL CORP 4.6%

Value $70.09M (+57.1%) Shares 1,007,696 (+66.7%) Est. Cost $97.99 Unrealized —

QTWO Q2 HLDGS INC 3.4%

Value $51.33M (+56.3%) Shares 1,070,545 (+53.9%) Est. Cost $58.18 Unrealized —

CG CARLYLE GROUP INC 5.3%

Value $80.73M (+29.0%) Shares 1,923,159 (+48.5%) Est. Cost $52.23 Unrealized —

ALKT ALKAMI TECHNOLOGY INC 4.1%

Value $61.96M (+26.6%) Shares 3,430,009 (+9.7%) Est. Cost $20.78 Unrealized —

NCNO NCINO INC 2.6%

Value $39.35M (+26.5%) Shares 2,414,440 (+16.1%) Est. Cost $22.70 Unrealized —

SSB SOUTHSTATE BK CORP 3.8%

Value $57.29M (+15.0%) Shares 575,313 (+6.6%) Est. Cost $94.07 Unrealized —

IBN ICICI BANK LIMITED 1.3%

Value $19.65M (+57.0%) Shares 679,060 (+40.3%) Est. Cost $26.74 Unrealized —

BMRC BANK OF MARIN BANCORP 0.5%

Value $8.092M (+319.9%) Shares 293,040 (+289.1%) Est. Cost $27.35 Unrealized —

BCAL CALIFORNIA BANCORP 0.6%

Value $8.36M (+273.6%) Shares 402,410 (+218.2%) Est. Cost $20.11 Unrealized —

KKR KKR & CO INC 4.7%

Value $71.17M (+6.8%) Shares 777,883 (+7.8%) Est. Cost $115.01 Unrealized —

NINE NINE ENERGY SERVICE INC 0.7%

Value $10.8M (+67.0%) Shares 832,907 (+5.4%) Est. Cost $8.43 Unrealized —

ITT ITT INC 0.1%

Value $1.526M (+172.8%) Shares 7,742 (+163.2%) Est. Cost $186.84 Unrealized —

GWW WW GRAINGER INC 0.1%

Value $1.752M (+91.3%) Shares 1,292 (+53.6%) Est. Cost $1175.60 Unrealized —

CAT CATERPILLAR INC 0.1%

Value $2.106M (+65.0%) Shares 1,984 (+9.9%) Est. Cost $718.42 Unrealized —

DE DEERE & CO 0.1%

Value $1.821M (+57.3%) Shares 2,880 (+39.9%) Est. Cost $574.43 Unrealized —

IESC IES HOLDINGS INC 0.1%

Value $907K (+253.0%) Shares 1,238 (+129.3%) Est. Cost $612.08 Unrealized —

VRT VERTIV HOLDINGS CO 0.1%

Value $1.535M (+65.1%) Shares 4,600 (+23.8%) Est. Cost $171.79 Unrealized —

TT TRANE TECHNOLOGIES PLC 0.1%

Value $1.072M (+66.4%) Shares 2,190 (+41.4%) Est. Cost $437.11 Unrealized —

WAB WABTEC 0.1%

Value $1.466M (+35.0%) Shares 5,456 (+25.3%) Est. Cost $244.96 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GPN	GLOBAL PMTS INC	1,262,105 (+102.0%)	$91.29M (+117.5%)	6.0%	$75.81	—	COM	37940X102
AIG	AMERICAN INTL GROUP INC	1,235,231 (+98.4%)	$91.77M (+96.3%)	6.0%	$76.46	—	COM NEW	026874784
SF	STIFEL FINL CORP	1,007,696 (+66.7%)	$70.09M (+57.1%)	4.6%	$97.99	—	COM	860630102
QTWO	Q2 HLDGS INC	1,070,545 (+53.9%)	$51.33M (+56.3%)	3.4%	$58.18	—	COM	74736L109
CG	CARLYLE GROUP INC	1,923,159 (+48.5%)	$80.73M (+29.0%)	5.3%	$52.23	—	COM	14316J108
ALKT	ALKAMI TECHNOLOGY INC	3,430,009 (+9.7%)	$61.96M (+26.6%)	4.1%	$20.78	—	COM	01644J108
NCNO	NCINO INC	2,414,440 (+16.1%)	$39.35M (+26.5%)	2.6%	$22.70	—	COM	63947X101
SSB	SOUTHSTATE BK CORP	575,313 (+6.6%)	$57.29M (+15.0%)	3.8%	$94.07	—	COM	84472E102
IBN	ICICI BANK LIMITED	679,060 (+40.3%)	$19.65M (+57.0%)	1.3%	$26.74	—	ADR	45104G104
BMRC	BANK OF MARIN BANCORP	293,040 (+289.1%)	$8.092M (+319.9%)	0.5%	$27.35	—	COM	063425102
BCAL	CALIFORNIA BANCORP	402,410 (+218.2%)	$8.36M (+273.6%)	0.6%	$20.11	—	COM	84252A106
KKR	KKR & CO INC	777,883 (+7.8%)	$71.17M (+6.8%)	4.7%	$115.01	—	COM	48251W104
NINE	NINE ENERGY SERVICE INC	832,907 (+5.4%)	$10.8M (+67.0%)	0.7%	$8.43	—	COMMON STOCK	65441V200
ITT	ITT INC	7,742 (+163.2%)	$1.526M (+172.8%)	0.1%	$186.84	—	COM	45073V108
GWW	WW GRAINGER INC	1,292 (+53.6%)	$1.752M (+91.3%)	0.1%	$1175.60	—	COM	384802104
CAT	CATERPILLAR INC	1,984 (+9.9%)	$2.106M (+65.0%)	0.1%	$718.42	—	COM	149123101
DE	DEERE & CO	2,880 (+39.9%)	$1.821M (+57.3%)	0.1%	$574.43	—	COM	244199105
IESC	IES HOLDINGS INC	1,238 (+129.3%)	$907K (+253.0%)	0.1%	$612.08	—	COM	44951W106
VRT	VERTIV HOLDINGS CO	4,600 (+23.8%)	$1.535M (+65.1%)	0.1%	$171.79	—	COM CL A	92537N108
TT	TRANE TECHNOLOGIES PLC	2,190 (+41.4%)	$1.072M (+66.4%)	0.1%	$437.11	—	SHS	G8994E103
WAB	WABTEC	5,456 (+25.3%)	$1.466M (+35.0%)	0.1%	$244.96	—	COM	929740108

Exited Positions (20)

CFG CITIZENS FINL GROUP INC 3.7%

Value $55.62M Shares 928,970 Est. Cost $50.56 Unrealized —

CRBG COREBRIDGE FINL INC 2.7%

Value $40.29M Shares 1,691,485 Est. Cost $29.89 Unrealized —

ZION ZIONS BANCORPORATION NATL AS 2.3%

Value $35.54M Shares 617,735 Est. Cost $60.85 Unrealized —

WSBC WESBANCO INC 1.8%

Value $26.99M Shares 783,957 Est. Cost $32.65 Unrealized —

CNOB CONNECTONE BANCORP INC 1.5%

Value $22.98M Shares 859,926 Est. Cost $24.49 Unrealized —

NTRS NORTHERN TR CORP 1.4%

Value $21.26M Shares 152,564 Est. Cost $130.74 Unrealized —

EG EVEREST GROUP LTD 1.2%

Value $18.85M Shares 57,777 Est. Cost $330.24 Unrealized —

WBS WEBSTER FINL CORP 1.2%

Value $18.71M Shares 270,020 Est. Cost $54.91 Unrealized —

BXP BXP INC 0.9%

Value $13.82M Shares 266,730 Est. Cost $69.90 Unrealized —

— ON SEMICONDUCTOR CORP 0.7%

Value $10.79M Shares 11,000,000 Est. Cost $0.93 Unrealized —

OZK BANK OZK LITTLE ROCK ARK 0.6%

Value $9.44M Shares 206,053 Est. Cost $48.33 Unrealized —

EBC EASTERN BANKSHARES INC 0.5%

Value $7.468M Shares 382,442 Est. Cost $16.64 Unrealized —

IBCP INDEPENDENT BK CORP MICH 0.4%

Value $5.938M Shares 178,602 Est. Cost $31.79 Unrealized —

RNST RENASANT CORP 0.4%

Value $5.347M Shares 148,239 Est. Cost $37.13 Unrealized —

ETN EATON CORP PLC 0.1%

Value $932K Shares 2,611 Est. Cost $354.22 Unrealized —

XYL XYLEM INC 0.1%

Value $766K Shares 6,424 Est. Cost $124.95 Unrealized —

IR INGERSOLL RAND INC 0.0%

Value $691K Shares 8,633 Est. Cost $85.85 Unrealized —

SYK STRYKER CORPORATION 0.0%

Value $676K Shares 2,061 Est. Cost $366.32 Unrealized —

BSX BOSTON SCIENTIFIC CORP 0.0%

Value $561K Shares 8,958 Est. Cost $103.24 Unrealized —

ISRG INTUITIVE SURGICAL INC 0.0%

Value $451K Shares 980 Est. Cost $538.07 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CFG	CITIZENS FINL GROUP INC	928,970	$55.62M	3.7%	$50.56	—	—	174610105
CRBG	COREBRIDGE FINL INC	1,691,485	$40.29M	2.7%	$29.89	—	—	21871X109
ZION	ZIONS BANCORPORATION NATL AS	617,735	$35.54M	2.3%	$60.85	—	—	989701107
WSBC	WESBANCO INC	783,957	$26.99M	1.8%	$32.65	—	—	950810101
CNOB	CONNECTONE BANCORP INC	859,926	$22.98M	1.5%	$24.49	—	—	20786W107
NTRS	NORTHERN TR CORP	152,564	$21.26M	1.4%	$130.74	—	—	665859104
EG	EVEREST GROUP LTD	57,777	$18.85M	1.2%	$330.24	—	—	G3223R108
WBS	WEBSTER FINL CORP	270,020	$18.71M	1.2%	$54.91	—	—	947890109
BXP	BXP INC	266,730	$13.82M	0.9%	$69.90	—	—	101121101
—	ON SEMICONDUCTOR CORP	11,000,000	$10.79M	0.7%	$0.93	—	—	682189AU9
OZK	BANK OZK LITTLE ROCK ARK	206,053	$9.44M	0.6%	$48.33	—	—	06417N103
EBC	EASTERN BANKSHARES INC	382,442	$7.468M	0.5%	$16.64	—	—	27627N105
IBCP	INDEPENDENT BK CORP MICH	178,602	$5.938M	0.4%	$31.79	—	—	453838609
RNST	RENASANT CORP	148,239	$5.347M	0.4%	$37.13	—	—	75970E107
ETN	EATON CORP PLC	2,611	$932K	0.1%	$354.22	—	—	G29183103
XYL	XYLEM INC	6,424	$766K	0.1%	$124.95	—	—	98419M100
IR	INGERSOLL RAND INC	8,633	$691K	0.0%	$85.85	—	—	45687V106
SYK	STRYKER CORPORATION	2,061	$676K	0.0%	$366.32	—	—	863667101
BSX	BOSTON SCIENTIFIC CORP	8,958	$561K	0.0%	$103.24	—	—	101137107
ISRG	INTUITIVE SURGICAL INC	980	$451K	0.0%	$538.07	—	—	46120E602

Decreased Positions (26)

UNM UNUM GROUP 2.3%

Value $35.41M (-48.6%) Shares 397,355 (-57.9%) Est. Cost $76.46 Unrealized —

BAC BANK OF AMER CORP 3.4%

Value $52M (-37.1%) Shares 915,504 (-46.1%) Est. Cost $53.66 Unrealized —

VOYA VOYA FINANCIAL INC 2.1%

Value $31.67M (-38.4%) Shares 350,925 (-53.5%) Est. Cost $70.06 Unrealized —

COLB COLUMBIA BKG SYS INC 0.5%

Value $7.495M (-68.4%) Shares 234,605 (-72.9%) Est. Cost $29.96 Unrealized —

EQH EQUITABLE HLDGS INC 5.6%

Value $85.65M (+13.4%) Shares 1,957,978 (-3.9%) Est. Cost $43.31 Unrealized —

HBAN HUNTINGTON BANCSHARES INC 2.5%

Value $38.45M (-19.8%) Shares 2,175,752 (-29.1%) Est. Cost $17.89 Unrealized —

LAZ LAZARD INC 0.7%

Value $10.95M (-39.6%) Shares 261,796 (-38.7%) Est. Cost $49.90 Unrealized —

LNC LINCOLN NATL CORP IND 3.0%

Value $44.81M (-7.2%) Shares 1,271,655 (-6.6%) Est. Cost $35.73 Unrealized —

PB PROSPERITY BANCSHARES INC 3.9%

Value $59.46M (-5.2%) Shares 816,821 (-12.6%) Est. Cost $68.50 Unrealized —

ONB OLD NATL BANCORP IND 2.7%

Value $41.75M (-5.6%) Shares 1,616,931 (-19.3%) Est. Cost $22.09 Unrealized —

WM WASTE MGMT INC DEL 0.1%

Value $807K (-64.1%) Shares 3,630 (-62.9%) Est. Cost $219.69 Unrealized —

COR CENCORA INC 0.1%

Value $969K (-49.2%) Shares 3,435 (-43.5%) Est. Cost $248.75 Unrealized —

RSG REPUBLIC SVCS INC 0.1%

Value $1.097M (-45.7%) Shares 5,166 (-44.1%) Est. Cost $214.90 Unrealized —

NPB NORTHPOINTE BANCSHARES INC 0.6%

Value $9.023M (+9.4%) Shares 471,907 (-1.4%) Est. Cost $16.91 Unrealized —

MCK MCKESSON CORP 0.1%

Value $908K (-45.3%) Shares 1,206 (-37.2%) Est. Cost $722.82 Unrealized —

GLW CORNING INC 0.1%

Value $1.727M (+75.7%) Shares 6,783 (-6.3%) Est. Cost $111.68 Unrealized —

SNDK SANDISK CORP 0.1%

Value $1.367M (+60.3%) Shares 603 (-55.1%) Est. Cost $200.29 Unrealized —

HFWA HERITAGE FINL CORP WASH 0.9%

Value $13.86M (+3.0%) Shares 469,403 (-9.5%) Est. Cost $24.14 Unrealized —

GEV GE VERNOVA INC 0.1%

Value $1.012M (-21.9%) Shares 864 (-41.9%) Est. Cost $736.93 Unrealized —

FIX COMFORT SYS USA INC 0.1%

Value $1.438M (-14.0%) Shares 728 (-40.1%) Est. Cost $961.42 Unrealized —

CLH CLEAN HARBORS INC 0.0%

Value $622K (-26.6%) Shares 2,088 (-29.4%) Est. Cost $233.99 Unrealized —

STRL STERLING INFRASTRUCTURE INC 0.1%

Value $1.221M (+18.3%) Shares 1,459 (-42.5%) Est. Cost $328.71 Unrealized —

CTAS CINTAS CORP 0.1%

Value $1.079M (-12.2%) Shares 6,365 (-12.6%) Est. Cost $209.62 Unrealized —

MYFW FIRST WESTN FINL INC 0.5%

Value $8.293M (-1.8%) Shares 259,090 (-24.7%) Est. Cost $22.89 Unrealized —

PWR QUANTA SVCS INC 0.1%

Value $1.944M (+7.1%) Shares 2,708 (-18.2%) Est. Cost $418.95 Unrealized —

NVT NVENT ELEC PLC 0.1%

Value $1.161M (-6.5%) Shares 6,864 (-34.7%) Est. Cost $104.48 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNM	UNUM GROUP	397,355 (-57.9%)	$35.41M (-48.6%)	2.3%	$76.46	—	COM	91529Y106
BAC	BANK OF AMER CORP	915,504 (-46.1%)	$52M (-37.1%)	3.4%	$53.66	—	COM	060505104
VOYA	VOYA FINANCIAL INC	350,925 (-53.5%)	$31.67M (-38.4%)	2.1%	$70.06	—	COM	929089100
COLB	COLUMBIA BKG SYS INC	234,605 (-72.9%)	$7.495M (-68.4%)	0.5%	$29.96	—	COM	197236102
EQH	EQUITABLE HLDGS INC	1,957,978 (-3.9%)	$85.65M (+13.4%)	5.6%	$43.31	—	COM	29452E101
HBAN	HUNTINGTON BANCSHARES INC	2,175,752 (-29.1%)	$38.45M (-19.8%)	2.5%	$17.89	—	COM	446150104
LAZ	LAZARD INC	261,796 (-38.7%)	$10.95M (-39.6%)	0.7%	$49.90	—	COM	52110M109
LNC	LINCOLN NATL CORP IND	1,271,655 (-6.6%)	$44.81M (-7.2%)	3.0%	$35.73	—	COM	534187109
PB	PROSPERITY BANCSHARES INC	816,821 (-12.6%)	$59.46M (-5.2%)	3.9%	$68.50	—	COM	743606105
ONB	OLD NATL BANCORP IND	1,616,931 (-19.3%)	$41.75M (-5.6%)	2.7%	$22.09	—	COM	680033107
WM	WASTE MGMT INC DEL	3,630 (-62.9%)	$807K (-64.1%)	0.1%	$219.69	—	COM	94106L109
COR	CENCORA INC	3,435 (-43.5%)	$969K (-49.2%)	0.1%	$248.75	—	COM	03073E105
RSG	REPUBLIC SVCS INC	5,166 (-44.1%)	$1.097M (-45.7%)	0.1%	$214.90	—	COM	760759100
NPB	NORTHPOINTE BANCSHARES INC	471,907 (-1.4%)	$9.023M (+9.4%)	0.6%	$16.91	—	COM SHS	66661N886
MCK	MCKESSON CORP	1,206 (-37.2%)	$908K (-45.3%)	0.1%	$722.82	—	COM	58155Q103
GLW	CORNING INC	6,783 (-6.3%)	$1.727M (+75.7%)	0.1%	$111.68	—	COM	219350105
SNDK	SANDISK CORP	603 (-55.1%)	$1.367M (+60.3%)	0.1%	$200.29	—	COM	80004C200
HFWA	HERITAGE FINL CORP WASH	469,403 (-9.5%)	$13.86M (+3.0%)	0.9%	$24.14	—	COM	42722X106
GEV	GE VERNOVA INC	864 (-41.9%)	$1.012M (-21.9%)	0.1%	$736.93	—	COM	36828A101
FIX	COMFORT SYS USA INC	728 (-40.1%)	$1.438M (-14.0%)	0.1%	$961.42	—	COM	199908104
CLH	CLEAN HARBORS INC	2,088 (-29.4%)	$622K (-26.6%)	0.0%	$233.99	—	COM	184496107
STRL	STERLING INFRASTRUCTURE INC	1,459 (-42.5%)	$1.221M (+18.3%)	0.1%	$328.71	—	COM	859241101
CTAS	CINTAS CORP	6,365 (-12.6%)	$1.079M (-12.2%)	0.1%	$209.62	—	COM	172908105
MYFW	FIRST WESTN FINL INC	259,090 (-24.7%)	$8.293M (-1.8%)	0.5%	$22.89	—	COM	33751L105
PWR	QUANTA SVCS INC	2,708 (-18.2%)	$1.944M (+7.1%)	0.1%	$418.95	—	COM	74762E102
NVT	NVENT ELEC PLC	6,864 (-34.7%)	$1.161M (-6.5%)	0.1%	$104.48	—	SHS	G6700G107

Unchanged Positions (3)

— ALKAMI TECHNOLOGY INC 2.2%

Value $33.34M Shares 35,000,000 Est. Cost $0.90 Unrealized —

BRBS BLUE RIDGE BANKSHARES INC VA 0.6%

Value $8.987M Shares 2,553,967 Est. Cost $4.27 Unrealized —

— PG&E CORP 1.0%

Value $14.92M Shares 365,000 Est. Cost $46.48 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	ALKAMI TECHNOLOGY INC	35,000,000	$33.34M	2.2%	$0.90	—	NOTE 1.500% 3/1	01644JAB4
BRBS	BLUE RIDGE BANKSHARES INC VA	2,553,967	$8.987M	0.6%	$4.27	—	COM	095825105
—	PG&E CORP	365,000	$14.92M	1.0%	$46.48	—	PFD CONV SER A	69331C306