Verdad Advisers, LP Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
C	CITIGROUP INC	34,553	$4,032	4.6%	$103.64	0.0%	COM NEW	172967424
CMCSA	COMCAST CORP NEW	98,396	$2,941	3.4%	$28.53	0.0%	CL A	20030N101
LRCX	LAM RESEARCH CORP	15,471	$2,648	3.0%	$155.36	0.0%	COM NEW	512807306
TGNA	TEGNA INC	2,510,000	$2,490	2.8%	$19.76	0.0%	COM	87901J105
MU	MICRON TECHNOLOGY INC	6,786	$1,937	2.2%	$229.35	0.0%	COM	595112103
VOYA	VOYA FINANCIAL INC	2,000,000	$1,899	2.2%	$72.55	0.0%	COM	929089100
CBRE	CBRE GROUP INC	11,288	$1,815	2.1%	$157.23	0.0%	CL A	12504L109
BK	BANK NEW YORK MELLON CORP	14,761	$1,714	2.0%	$110.50	0.0%	COM	064058100
CALM	CAL MAINE FOODS INC	20,651	$1,643	1.9%	$86.61	0.0%	COM NEW	128030202
MS	MORGAN STANLEY	8,300	$1,473	1.7%	$166.47	0.0%	COM NEW	617446448
PFE	PFIZER INC	53,093	$1,322	1.5%	$25.03	0.0%	COM	717081103
AVDV	AMERICAN CENTY ETF TR	14,000	$1,316	1.5%	$93.97	—	INTL SMCP VLU	025072802
GM	GENERAL MTRS CO	15,830	$1,287	1.5%	$70.40	0.0%	COM	37045V100
CIEN	CIENA CORP	5,413	$1,266	1.4%	$194.00	0.0%	COM NEW	171779309
CVS	CVS HEALTH CORP	15,705	$1,246	1.4%	$78.67	0.0%	COM	126650100
QCOM	QUALCOMM INC	6,979	$1,194	1.4%	$170.79	0.0%	COM	747525103
NVDA	NVIDIA CORPORATION	6,299	$1,175	1.3%	$186.13	0.0%	COM	67066G104
BWA	BORGWARNER INC	20,840	$939	1.1%	$43.69	0.0%	COM	099724106
F	FORD MTR CO	66,000	$866	1.0%	$12.83	0.0%	COM	345370860
GSL	GLOBAL SHIP LEASE INC NEW	24,533	$860	1.0%	$32.49	0.0%	COM CL A	Y27183600
AMD	ADVANCED MICRO DEVICES INC	3,879	$831	1.0%	$224.60	0.0%	COM	007903107
GLW	CORNING INC	9,463	$829	0.9%	$85.98	0.0%	COM	219350105
CLDT	CHATHAM LODGING TR	115,000	$783	0.9%	$6.81	—	COM	16208T102
AII	AMERICAN INTEGRITY INS GROUP	37,540	$782	0.9%	$22.24	0.0%	COM	026948109
NUS	NU SKIN ENTERPRISES INC	78,748	$758	0.9%	$10.31	0.0%	CL A	67018T105
MSB	MESABI TR	19,567	$754	0.9%	$38.52	—	CTF BEN INT	590672101
NTRA	NATERA INC	3,167	$726	0.8%	$208.59	0.0%	COM	632307104
PRDO	PERDOCEO ED CORP	24,664	$723	0.8%	$31.48	0.0%	COM	71363P106
MOMO	HELLO GROUP INC	109,217	$715	0.8%	$6.55	—	ADS	423403104
AMN	AMN HEALTHCARE SVCS INC	45,000	$709	0.8%	$17.85	0.0%	COM	001744101
CALX	CALIX INC	12,313	$652	0.7%	$58.25	0.0%	COM	13100M509
CRI	CARTERS INC	20,000	$649	0.7%	$31.07	0.0%	COM	146229109
BLMN	BLOOMIN BRANDS INC	100,000	$617	0.7%	$6.97	0.0%	COM	094235108
SONO	SONOS INC	33,567	$589	0.7%	$17.44	0.0%	COM	83570H108
BAC	BANK AMERICA CORP	10,083	$555	0.6%	$52.67	0.0%	COM	060505104
—	ANYWHERE REAL ESTATE INC	35,911	$509	0.6%	$14.16	—	COM	75605Y106
M	MACYS INC	22,820	$503	0.6%	$20.47	0.0%	COM	55616P104
MDB	MONGODB INC	1,171	$491	0.6%	$363.83	0.0%	CL A	60937P106
CNXN	PC CONNECTION INC	8,182	$473	0.5%	$59.32	0.0%	COM	69318J100
COF	CAPITAL ONE FINL CORP	1,902	$461	0.5%	$222.19	0.0%	COM	14040H105
PSTG	PURE STORAGE INC	6,693	$448	0.5%	$83.54	0.0%	CL A	74624M102
INTC	INTEL CORP	11,960	$441	0.5%	$37.76	0.0%	COM	458140100
RCKY	ROCKY BRANDS INC	15,000	$440	0.5%	$29.42	0.0%	COM	774515100
JEF	JEFFERIES FINL GROUP INC	7,009	$434	0.5%	$56.69	0.0%	COM	47233W109
FROG	JFROG LTD	6,738	$421	0.5%	$56.87	0.0%	ORD SHS	M6191J100
ROKU	ROKU INC	3,784	$411	0.5%	$101.49	0.0%	COM CL A	77543R102
ACCO	ACCO BRANDS CORP	100,000	$373	0.4%	$3.66	0.0%	COM	00081T108
RIGL	RIGEL PHARMACEUTICALS INC	8,679	$372	0.4%	$37.70	0.0%	COM	766559702
EM	SMART SH GLOBAL LTD	301,884	$353	0.4%	$1.17	—	ADS	83193E102
AVGO	BROADCOM INC	990	$343	0.4%	$357.00	0.0%	COM	11135F101
EGAN	EGAIN CORP	32,972	$339	0.4%	$11.95	0.0%	COM NEW	28225C806
MAPS	WM TECHNOLOGY INC	409,993	$338	0.4%	$0.98	0.0%	COM	92971A109
PBYI	PUMA BIOTECHNOLOGY INC	55,542	$330	0.4%	$5.31	0.0%	COM	74587V107
CCSI	CONSENSUS CLOUD SOLUTIONS IN	15,000	$327	0.4%	$24.62	0.0%	COM	20848V105
CRC	CALIFORNIA RES CORP	7,180	$321	0.4%	$47.17	0.0%	COM STOCK	13057Q305
WBD	WARNER BROS DISCOVERY INC	10,712	$309	0.4%	$23.37	0.0%	COM SER A	934423104
—	ASA GOLD AND PRECIOUS MTLS L	5,039	$301	0.3%	$59.67	—	SHS	G3156P103
ANET	ARISTA NETWORKS INC	2,244	$294	0.3%	$137.66	0.0%	COM SHS	040413205
PLTR	PALANTIR TECHNOLOGIES INC	1,598	$284	0.3%	$181.03	0.0%	CL A	69608A108
CSTL	CASTLE BIOSCIENCES INC	7,085	$276	0.3%	$32.24	0.0%	COM	14843C105
DAN	DANA INC	11,332	$269	0.3%	$21.12	0.0%	COM	235825205
HCI	HCI GROUP INC	1,375	$264	0.3%	$188.36	0.0%	COM	40416E103
NATR	NATURES SUNSHINE PRODS INC	11,221	$242	0.3%	$18.34	0.0%	COM	639027101
AVT	AVNET INC	5,000	$240	0.3%	$48.90	0.0%	COM	053807103
HPE	HEWLETT PACKARD ENTERPRISE C	9,920	$238	0.3%	$23.44	0.0%	COM	42824C109
BDTX	BLACK DIAMOND THERAPEUTICS I	96,286	$234	0.3%	$3.54	0.0%	COM	09203E105
LEVI	LEVI STRAUSS & CO NEW	10,448	$217	0.2%	$21.38	0.0%	CL A COM STK	52736R102
DIS	DISNEY WALT CO	1,883	$214	0.2%	$109.53	0.0%	COM	254687106
KE	KIMBALL ELECTRONICS INC	7,687	$214	0.2%	$28.86	0.0%	COM	49428J109
TER	TERADYNE INC	1,036	$201	0.2%	$171.50	0.0%	COM	880770102
YRD	YIREN DIGITAL LTD	52,606	$195	0.2%	$3.70	—	SPONSORED ADS	98585L100
FINV	FINVOLUTION GROUP	27,982	$146	0.2%	$5.23	—	SPONSORED ADS	31810T101
COMP	COMPASS INC	13,630	$144	0.2%	$9.12	0.0%	CL A	20464U100
GTN	GRAY MEDIA INC	29,009	$140	0.2%	$4.89	0.0%	COM	389375106
NIO	NIO INC	21,450	$109	0.1%	$5.10	—	SPON ADS	62914V106
VIOT	VIOMI TECHNOLOGY CO LTD	52,772	$97	0.1%	$1.84	—	SPONSORED ADS	92762J103
NRT	NORTH EUROPEAN OIL RTY TR	14,308	$94	0.1%	$6.58	—	SH BEN INT	659310106
XYF	X FINL	14,571	$82	0.1%	$5.60	—	SPONSORED ADS	98372W202
TUYA	TUYA INC	31,922	$67	0.1%	$2.11	—	SPONSERED ADS	90114C107
III	INFORMATION SVCS GROUP INC	11,587	$67	0.1%	$5.58	0.0%	COM	45675Y104
MYPS	PLAYSTUDIOS INC	73,733	$48	0.1%	$0.78	0.0%	CLASS A COM	72815G108
TOUR	TUNIU CORP	22,004	$14	0.0%	$0.62	—	SPONSORED ADS	89977P106

Increased Positions (10)

JNJ JOHNSON & JOHNSON 4.1%

Value ($000) $3,603 (+329.9%) Shares 17,408 (+236.6%) Est. Cost $182.22 Unrealized +8.1%

CVX CHEVRON CORP NEW 3.2%

Value ($000) $2,821 (+660.7%) Shares 18,508 (+635.0%) Est. Cost $149.84 Unrealized +1.0%

GOOGL ALPHABET INC 3.0%

Value ($000) $2,655 (+589.8%) Shares 8,484 (+265.5%) Est. Cost $248.34 Unrealized +15.0%

CSCO CISCO SYS INC 2.6%

Value ($000) $2,305 (+178.4%) Shares 29,918 (+92.4%) Est. Cost $59.75 Unrealized +23.5%

ZM ZOOM COMMUNICATIONS INC 2.1%

Value ($000) $1,806 (+415.8%) Shares 20,931 (+316.9%) Est. Cost $78.97 Unrealized +6.6%

T AT&T INC 2.0%

Value ($000) $1,725 (+150.9%) Shares 69,461 (+122.2%) Est. Cost $22.36 Unrealized +13.1%

RL RALPH LAUREN CORP 1.1%

Value ($000) $982 (+97.5%) Shares 2,778 (+8.3%) Est. Cost $176.09 Unrealized +93.1%

AMZN AMAZON COM INC 0.9%

Value ($000) $799 (+52.7%) Shares 3,462 (+23.3%) Est. Cost $165.07 Unrealized +38.6%

VTRS VIATRIS INC 0.9%

Value ($000) $809 (+16.2%) Shares 65,000 (+8.3%) Est. Cost $9.25 Unrealized +15.8%

SNFCA SECURITY NATL FINL CORP 0.8%

Value ($000) $728 (+10.0%) Shares 80,800 (+12.3%) Est. Cost $7.49 Unrealized +13.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
JNJ	JOHNSON & JOHNSON	17,408 (+236.6%)	$3,603 (+329.9%)	4.1%	$182.22	+8.1%	COM	478160104
CVX	CHEVRON CORP NEW	18,508 (+635.0%)	$2,821 (+660.7%)	3.2%	$149.84	+1.0%	COM	166764100
GOOGL	ALPHABET INC	8,484 (+265.5%)	$2,655 (+589.8%)	3.0%	$248.34	+15.0%	CAP STK CL A	02079K305
CSCO	CISCO SYS INC	29,918 (+92.4%)	$2,305 (+178.4%)	2.6%	$59.75	+23.5%	COM	17275R102
ZM	ZOOM COMMUNICATIONS INC	20,931 (+316.9%)	$1,806 (+415.8%)	2.1%	$78.97	+6.6%	CL A	98980L101
T	AT&T INC	69,461 (+122.2%)	$1,725 (+150.9%)	2.0%	$22.36	+13.1%	COM	00206R102
RL	RALPH LAUREN CORP	2,778 (+8.3%)	$982 (+97.5%)	1.1%	$176.09	+93.1%	CL A	751212101
AMZN	AMAZON COM INC	3,462 (+23.3%)	$799 (+52.7%)	0.9%	$165.07	+38.6%	COM	023135106
VTRS	VIATRIS INC	65,000 (+8.3%)	$809 (+16.2%)	0.9%	$9.25	+15.8%	COM	92556V106
SNFCA	SECURITY NATL FINL CORP	80,800 (+12.3%)	$728 (+10.0%)	0.8%	$7.49	+13.1%	CL A NEW	814785309

Exited Positions (70)

TMUS T-MOBILE US INC 3.2%

Value ($000) $2,803 Shares 13,585 Est. Cost $161.59 Unrealized +30.8%

MSFT MICROSOFT CORP 2.7%

Value ($000) $2,363 Shares 5,491 Est. Cost $373.34 Unrealized +34.1%

GWW GRAINGER W W INC 1.9%

Value ($000) $1,686 Shares 1,623 Est. Cost $836.99 Unrealized +15.8%

ELV ELEVANCE HEALTH INC 1.9%

Value ($000) $1,630 Shares 3,134 Est. Cost $492.10 Unrealized -31.6%

LMT LOCKHEED MARTIN CORP 1.6%

Value ($000) $1,367 Shares 2,338 Est. Cost $516.36 Unrealized -7.8%

KR KROGER CO 1.5%

Value ($000) $1,320 Shares 23,036 Est. Cost $41.75 Unrealized +56.2%

SNX TD SYNNEX CORPORATION 1.5%

Value ($000) $1,314 Shares 10,944 Est. Cost $108.05 Unrealized +41.4%

IBM INTERNATIONAL BUSINESS MACHS 1.4%

Value ($000) $1,255 Shares 5,677 Est. Cost $173.29 Unrealized +72.4%

UNH UNITEDHEALTH GROUP INC 1.2%

Value ($000) $1,019 Shares 1,743 Est. Cost $498.21 Unrealized -32.3%

RTX RTX CORPORATION 1.2%

Value ($000) $1,008 Shares 8,318 Est. Cost $111.08 Unrealized +56.0%

COR CENCORA INC 1.1%

Value ($000) $968 Shares 4,299 Est. Cost $226.42 Unrealized +50.4%

CFG CITIZENS FINL GROUP INC 1.1%

Value ($000) $961 Shares 12,743 Est. Cost $25.76 Unrealized +108.0%

ACI ALBERTSONS COS INC 1.1%

Value ($000) $943 Shares 51,015 Est. Cost $20.17 Unrealized -12.5%

INTU INTUIT 1.1%

Value ($000) $925 Shares 1,489 Est. Cost $631.27 Unrealized +4.7%

STLA STELLANTIS N.V 1.0%

Value ($000) $905 Shares 64,421 Est. Cost $28.30 Unrealized —

MSI MOTOROLA SOLUTIONS INC 1.0%

Value ($000) $881 Shares 1,959 Est. Cost $410.72 Unrealized -2.4%

COST COSTCO WHSL CORP NEW 0.9%

Value ($000) $824 Shares 929 Est. Cost $706.75 Unrealized +28.2%

IBKR INTERACTIVE BROKERS GROUP IN 0.9%

Value ($000) $807 Shares 5,794 Est. Cost $29.88 Unrealized +123.9%

NOC NORTHROP GRUMMAN CORP 0.9%

Value ($000) $791 Shares 1,497 Est. Cost $478.00 Unrealized +21.1%

NUE NUCOR CORP 0.9%

Value ($000) $790 Shares 5,257 Est. Cost $169.05 Unrealized -11.4%

BSX BOSTON SCIENTIFIC CORP 0.9%

Value ($000) $750 Shares 8,951 Est. Cost $64.30 Unrealized +52.5%

VRTX VERTEX PHARMACEUTICALS INC 0.9%

Value ($000) $749 Shares 1,611 Est. Cost $480.37 Unrealized -10.3%

XOM EXXON MOBIL CORP 0.8%

Value ($000) $736 Shares 6,276 Est. Cost $105.02 Unrealized +10.0%

RS RELIANCE INC 0.8%

Value ($000) $723 Shares 2,500 Est. Cost $277.21 Unrealized +1.4%

V VISA INC 0.8%

Value ($000) $706 Shares 2,568 Est. Cost $269.65 Unrealized +26.2%

REGN REGENERON PHARMACEUTICALS 0.8%

Value ($000) $676 Shares 643 Est. Cost $946.75 Unrealized -28.3%

ABBV ABBVIE INC 0.8%

Value ($000) $676 Shares 3,422 Est. Cost $178.69 Unrealized +27.3%

PGR PROGRESSIVE CORP 0.8%

Value ($000) $666 Shares 2,623 Est. Cost $138.62 Unrealized +53.2%

— JUNIPER NETWORKS INC 0.8%

Value ($000) $664 Shares 17,039 Est. Cost $37.79 Unrealized —

LOW LOWES COS INC 0.8%

Value ($000) $659 Shares 8,331 Est. Cost $222.03 Unrealized +8.0%

HIG HARTFORD FINL SVCS GROUP INC 0.8%

Value ($000) $658 Shares 5,599 Est. Cost $93.18 Unrealized +41.2%

SFM SPROUTS FMRS MKT INC 0.7%

Value ($000) $639 Shares 5,784 Est. Cost $72.86 Unrealized +23.1%

JILL J JILL INC 0.7%

Value ($000) $617 Shares 25,000 Est. Cost $28.86 Unrealized -47.9%

CHKP CHECK POINT SOFTWARE TECH LT 0.7%

Value ($000) $574 Shares 2,977 Est. Cost $158.74 Unrealized +21.8%

ACN ACCENTURE PLC IRELAND 0.6%

Value ($000) $568 Shares 1,606 Est. Cost $322.76 Unrealized -21.3%

PKOH PARK-OHIO HLDGS CORP 0.6%

Value ($000) $562 Shares 18,300 Est. Cost $24.40 Unrealized -15.5%

ADBE ADOBE INC 0.6%

Value ($000) $548 Shares 1,059 Est. Cost $548.46 Unrealized -38.0%

DUK DUKE ENERGY CORP NEW 0.6%

Value ($000) $544 Shares 4,716 Est. Cost $105.91 Unrealized +14.8%

LRN STRIDE INC 0.6%

Value ($000) $534 Shares 6,258 Est. Cost $60.30 Unrealized +50.6%

MRSH MARSH & MCLENNAN COS INC 0.6%

Value ($000) $529 Shares 2,372 Est. Cost $216.92 Unrealized -14.1%

WM WASTE MGMT INC DEL 0.6%

Value ($000) $523 Shares 2,519 Est. Cost $204.28 Unrealized +4.1%

CNC CENTENE CORP DEL 0.6%

Value ($000) $520 Shares 6,913 Est. Cost $77.21 Unrealized -51.5%

JPM JPMORGAN CHASE & CO. 0.6%

Value ($000) $511 Shares 2,422 Est. Cost $204.96 Unrealized +51.0%

SPGI S&P GLOBAL INC 0.6%

Value ($000) $510 Shares 987 Est. Cost $489.86 Unrealized +0.9%

CME CME GROUP INC 0.6%

Value ($000) $503 Shares 2,278 Est. Cost $196.43 Unrealized +37.8%

PAGP PLAINS GP HLDGS L P 0.5%

Value ($000) $477 Shares 25,791 Est. Cost $18.82 Unrealized —

LIN LINDE PLC 0.5%

Value ($000) $467 Shares 980 Est. Cost $430.58 Unrealized -0.8%

SGC SUPERIOR GROUP OF CO INC 0.5%

Value ($000) $465 Shares 30,000 Est. Cost $14.41 Unrealized -32.2%

EOG EOG RES INC 0.5%

Value ($000) $451 Shares 3,668 Est. Cost $120.40 Unrealized -10.9%

FFWM FIRST FNDTN INC 0.5%

Value ($000) $437 Shares 70,000 Est. Cost $6.43 Unrealized -12.9%

ULH UNIVERSAL LOGISTICS HLDGS IN 0.5%

Value ($000) $431 Shares 10,000 Est. Cost $32.45 Unrealized -48.2%

MCS MARCUS CORP DEL 0.5%

Value ($000) $414 Shares 27,500 Est. Cost $13.88 Unrealized +7.1%

FLEX FLEX LTD 0.5%

Value ($000) $414 Shares 12,389 Est. Cost $28.15 Unrealized +119.4%

TRV TRAVELERS COMPANIES INC 0.5%

Value ($000) $408 Shares 1,744 Est. Cost $206.72 Unrealized +35.7%

ACH OWENS & MINOR INC NEW 0.4%

Value ($000) $392 Shares 25,000 Est. Cost $17.49 Unrealized -79.6%

FISV FISERV INC 0.4%

Value ($000) $376 Shares 2,091 Est. Cost $145.64 Unrealized -42.4%

PEP PEPSICO INC 0.4%

Value ($000) $369 Shares 2,171 Est. Cost $162.90 Unrealized -10.4%

ADP AUTOMATIC DATA PROCESSING IN 0.4%

Value ($000) $368 Shares 1,330 Est. Cost $253.49 Unrealized +4.5%

— BERRY CORP 0.4%

Value ($000) $362 Shares 70,351 Est. Cost $5.14 Unrealized —

ZEUS OLYMPIC STEEL INC 0.4%

Value ($000) $351 Shares 9,000 Est. Cost $61.59 Unrealized -42.1%

MUSA MURPHY USA INC 0.4%

Value ($000) $350 Shares 710 Est. Cost $401.48 Unrealized -4.5%

RYI RYERSON HLDG CORP 0.4%

Value ($000) $348 Shares 17,500 Est. Cost $21.20 Unrealized +8.4%

FDX FEDEX CORP 0.4%

Value ($000) $335 Shares 1,223 Est. Cost $281.24 Unrealized -7.0%

RSG REPUBLIC SVCS INC 0.4%

Value ($000) $319 Shares 1,588 Est. Cost $173.59 Unrealized +23.6%

CXW CORECIVIC INC 0.4%

Value ($000) $316 Shares 25,000 Est. Cost $11.60 Unrealized +58.0%

O REALTY INCOME CORP 0.4%

Value ($000) $314 Shares 4,951 Est. Cost $55.00 Unrealized +4.3%

SPY SPDR S&P 500 ETF TR 0.3%

Value ($000) $269 Shares 500 Est. Cost $538.00 Unrealized —

— AXONICS INC 0.3%

Value ($000) $267 Shares 3,842 Est. Cost $69.60 Unrealized —

CACI CACI INTL INC 0.3%

Value ($000) $243 Shares 482 Est. Cost $463.04 Unrealized +22.0%

— ENDEAVOR GROUP HLDGS INC 0.2%

Value ($000) $203 Shares 7,106 Est. Cost $28.56 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TMUS	T-MOBILE US INC	13,585	$2,803	3.2%	$161.59	+30.8%	—	872590104
MSFT	MICROSOFT CORP	5,491	$2,363	2.7%	$373.34	+34.1%	—	594918104
GWW	GRAINGER W W INC	1,623	$1,686	1.9%	$836.99	+15.8%	—	384802104
ELV	ELEVANCE HEALTH INC	3,134	$1,630	1.9%	$492.10	-31.6%	—	036752103
LMT	LOCKHEED MARTIN CORP	2,338	$1,367	1.6%	$516.36	-7.8%	—	539830109
KR	KROGER CO	23,036	$1,320	1.5%	$41.75	+56.2%	—	501044101
SNX	TD SYNNEX CORPORATION	10,944	$1,314	1.5%	$108.05	+41.4%	—	87162W100
IBM	INTERNATIONAL BUSINESS MACHS	5,677	$1,255	1.4%	$173.29	+72.4%	—	459200101
UNH	UNITEDHEALTH GROUP INC	1,743	$1,019	1.2%	$498.21	-32.3%	—	91324P102
RTX	RTX CORPORATION	8,318	$1,008	1.2%	$111.08	+56.0%	—	75513E101
COR	CENCORA INC	4,299	$968	1.1%	$226.42	+50.4%	—	03073E105
CFG	CITIZENS FINL GROUP INC	12,743	$961	1.1%	$25.76	+108.0%	—	174610105
ACI	ALBERTSONS COS INC	51,015	$943	1.1%	$20.17	-12.5%	—	013091103
INTU	INTUIT	1,489	$925	1.1%	$631.27	+4.7%	—	461202103
STLA	STELLANTIS N.V	64,421	$905	1.0%	$28.30	—	—	N82405106
MSI	MOTOROLA SOLUTIONS INC	1,959	$881	1.0%	$410.72	-2.4%	—	620076307
COST	COSTCO WHSL CORP NEW	929	$824	0.9%	$706.75	+28.2%	—	22160K105
IBKR	INTERACTIVE BROKERS GROUP IN	5,794	$807	0.9%	$29.88	+123.9%	—	45841N107
NOC	NORTHROP GRUMMAN CORP	1,497	$791	0.9%	$478.00	+21.1%	—	666807102
NUE	NUCOR CORP	5,257	$790	0.9%	$169.05	-11.4%	—	670346105
BSX	BOSTON SCIENTIFIC CORP	8,951	$750	0.9%	$64.30	+52.5%	—	101137107
VRTX	VERTEX PHARMACEUTICALS INC	1,611	$749	0.9%	$480.37	-10.3%	—	92532F100
XOM	EXXON MOBIL CORP	6,276	$736	0.8%	$105.02	+10.0%	—	30231G102
RS	RELIANCE INC	2,500	$723	0.8%	$277.21	+1.4%	—	759509102
V	VISA INC	2,568	$706	0.8%	$269.65	+26.2%	—	92826C839
REGN	REGENERON PHARMACEUTICALS	643	$676	0.8%	$946.75	-28.3%	—	75886F107
ABBV	ABBVIE INC	3,422	$676	0.8%	$178.69	+27.3%	—	00287Y109
PGR	PROGRESSIVE CORP	2,623	$666	0.8%	$138.62	+53.2%	—	743315103
—	JUNIPER NETWORKS INC	17,039	$664	0.8%	$37.79	—	—	48203R104
LOW	LOWES COS INC	8,331	$659	0.8%	$222.03	+8.0%	—	548661107
HIG	HARTFORD FINL SVCS GROUP INC	5,599	$658	0.8%	$93.18	+41.2%	—	416515104
SFM	SPROUTS FMRS MKT INC	5,784	$639	0.7%	$72.86	+23.1%	—	85208M102
JILL	J JILL INC	25,000	$617	0.7%	$28.86	-47.9%	—	46620W201
CHKP	CHECK POINT SOFTWARE TECH LT	2,977	$574	0.7%	$158.74	+21.8%	—	M22465104
ACN	ACCENTURE PLC IRELAND	1,606	$568	0.6%	$322.76	-21.3%	—	G1151C101
PKOH	PARK-OHIO HLDGS CORP	18,300	$562	0.6%	$24.40	-15.5%	—	700666100
ADBE	ADOBE INC	1,059	$548	0.6%	$548.46	-38.0%	—	00724F101
DUK	DUKE ENERGY CORP NEW	4,716	$544	0.6%	$105.91	+14.8%	—	26441C204
LRN	STRIDE INC	6,258	$534	0.6%	$60.30	+50.6%	—	86333M108
MRSH	MARSH & MCLENNAN COS INC	2,372	$529	0.6%	$216.92	-14.1%	—	571748102
WM	WASTE MGMT INC DEL	2,519	$523	0.6%	$204.28	+4.1%	—	94106L109
CNC	CENTENE CORP DEL	6,913	$520	0.6%	$77.21	-51.5%	—	15135B101
JPM	JPMORGAN CHASE & CO.	2,422	$511	0.6%	$204.96	+51.0%	—	46625H100
SPGI	S&P GLOBAL INC	987	$510	0.6%	$489.86	+0.9%	—	78409V104
CME	CME GROUP INC	2,278	$503	0.6%	$196.43	+37.8%	—	12572Q105
PAGP	PLAINS GP HLDGS L P	25,791	$477	0.5%	$18.82	—	—	72651A207
LIN	LINDE PLC	980	$467	0.5%	$430.58	-0.8%	—	G54950103
SGC	SUPERIOR GROUP OF CO INC	30,000	$465	0.5%	$14.41	-32.2%	—	868358102
EOG	EOG RES INC	3,668	$451	0.5%	$120.40	-10.9%	—	26875P101
FFWM	FIRST FNDTN INC	70,000	$437	0.5%	$6.43	-12.9%	—	32026V104
ULH	UNIVERSAL LOGISTICS HLDGS IN	10,000	$431	0.5%	$32.45	-48.2%	—	91388P105
MCS	MARCUS CORP DEL	27,500	$414	0.5%	$13.88	+7.1%	—	566330106
FLEX	FLEX LTD	12,389	$414	0.5%	$28.15	+119.4%	—	Y2573F102
TRV	TRAVELERS COMPANIES INC	1,744	$408	0.5%	$206.72	+35.7%	—	89417E109
ACH	OWENS & MINOR INC NEW	25,000	$392	0.4%	$17.49	-79.6%	—	690732102
FISV	FISERV INC	2,091	$376	0.4%	$145.64	-42.4%	—	337738108
PEP	PEPSICO INC	2,171	$369	0.4%	$162.90	-10.4%	—	713448108
ADP	AUTOMATIC DATA PROCESSING IN	1,330	$368	0.4%	$253.49	+4.5%	—	053015103
—	BERRY CORP	70,351	$362	0.4%	$5.14	—	—	08579X101
ZEUS	OLYMPIC STEEL INC	9,000	$351	0.4%	$61.59	-42.1%	—	68162K106
MUSA	MURPHY USA INC	710	$350	0.4%	$401.48	-4.5%	—	626755102
RYI	RYERSON HLDG CORP	17,500	$348	0.4%	$21.20	+8.4%	—	783754104
FDX	FEDEX CORP	1,223	$335	0.4%	$281.24	-7.0%	—	31428X106
RSG	REPUBLIC SVCS INC	1,588	$319	0.4%	$173.59	+23.6%	—	760759100
CXW	CORECIVIC INC	25,000	$316	0.4%	$11.60	+58.0%	—	21871N101
O	REALTY INCOME CORP	4,951	$314	0.4%	$55.00	+4.3%	—	756109104
SPY	SPDR S&P 500 ETF TR	500	$269	0.3%	$538.00	—	—	78462F103
—	AXONICS INC	3,842	$267	0.3%	$69.60	—	—	05465P101
CACI	CACI INTL INC	482	$243	0.3%	$463.04	+22.0%	—	127190304
—	ENDEAVOR GROUP HLDGS INC	7,106	$203	0.2%	$28.56	—	—	29260Y109

Decreased Positions (11)

BRK/B BERKSHIRE HATHAWAY INC DEL 0.2%

Value ($000) $200 (-95.7%) Shares 398 (-96.1%) Est. Cost $414.19 Unrealized +20.1%

WMT WALMART INC 1.1%

Value ($000) $942 (-64.3%) Shares 8,451 (-74.1%) Est. Cost $56.44 Unrealized +89.9%

JLL JONES LANG LASALLE INC 0.3%

Value ($000) $232 (-85.6%) Shares 690 (-88.4%) Est. Cost $185.65 Unrealized +68.8%

AAPL APPLE INC 1.3%

Value ($000) $1,143 (-39.6%) Shares 4,203 (-48.2%) Est. Cost $211.37 Unrealized +27.0%

MG MISTRAS GROUP INC 0.7%

Value ($000) $633 (-35.0%) Shares 50,000 (-41.6%) Est. Cost $7.04 Unrealized +60.3%

HRTG HERITAGE INSURANCE HLDGS INC 1.0%

Value ($000) $842 (+39.0%) Shares 28,774 (-41.9%) Est. Cost $8.84 Unrealized +206.0%

MRK MERCK & CO INC 1.4%

Value ($000) $1,226 (-10.0%) Shares 11,646 (-2.9%) Est. Cost $115.77 Unrealized -19.5%

SND SMART SAND INC 0.5%

Value ($000) $404 (-18.0%) Shares 100,989 (-59.6%) Est. Cost $1.91 Unrealized +47.9%

TJX TJX COS INC NEW 4.4%

Value ($000) $3,810 (+1.9%) Shares 24,801 (-22.0%) Est. Cost $97.46 Unrealized +51.6%

CRM SALESFORCE INC 0.5%

Value ($000) $401 (-10.8%) Shares 1,514 (-7.8%) Est. Cost $253.82 Unrealized -2.2%

VLGEA VILLAGE SUPER MKT INC 0.8%

Value ($000) $708 (-1.0%) Shares 20,000 (-11.1%) Est. Cost $26.89 Unrealized +27.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY INC DEL	398 (-96.1%)	$200 (-95.7%)	0.2%	$414.19	+20.1%	CL B NEW	084670702
WMT	WALMART INC	8,451 (-74.1%)	$942 (-64.3%)	1.1%	$56.44	+89.9%	COM	931142103
JLL	JONES LANG LASALLE INC	690 (-88.4%)	$232 (-85.6%)	0.3%	$185.65	+68.8%	COM	48020Q107
AAPL	APPLE INC	4,203 (-48.2%)	$1,143 (-39.6%)	1.3%	$211.37	+27.0%	COM	037833100
MG	MISTRAS GROUP INC	50,000 (-41.6%)	$633 (-35.0%)	0.7%	$7.04	+60.3%	COM	60649T107
HRTG	HERITAGE INSURANCE HLDGS INC	28,774 (-41.9%)	$842 (+39.0%)	1.0%	$8.84	+206.0%	COM	42727J102
MRK	MERCK & CO INC	11,646 (-2.9%)	$1,226 (-10.0%)	1.4%	$115.77	-19.5%	COM	58933Y105
SND	SMART SAND INC	100,989 (-59.6%)	$404 (-18.0%)	0.5%	$1.91	+47.9%	COM	83191H107
TJX	TJX COS INC NEW	24,801 (-22.0%)	$3,810 (+1.9%)	4.4%	$97.46	+51.6%	COM	872540109
CRM	SALESFORCE INC	1,514 (-7.8%)	$401 (-10.8%)	0.5%	$253.82	-2.2%	COM	79466L302
VLGEA	VILLAGE SUPER MKT INC	20,000 (-11.1%)	$708 (-1.0%)	0.8%	$26.89	+27.7%	CL A NEW	927107409

Unchanged Positions (1)

ASO ACADEMY SPORTS & OUTDOORS IN 0.9%

Value ($000) $749 Shares 15,000 Est. Cost $42.32 Unrealized +17.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ASO	ACADEMY SPORTS & OUTDOORS IN	15,000	$749	0.9%	$42.32	+17.0%	COM	00402L107