Regents Gate Capital LLP Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MMM	3M CO	91,422	$14,637	4.7%	$163.18	0.0%	COM	88579Y101
ETN	EATON CORP PLC	45,921	$14,626	4.7%	$354.39	0.0%	SHS	G29183103
LIN	LINDE PLC	34,088	$14,535	4.7%	$427.28	0.0%	SHS	G54950103
FAST	FASTENAL CO	358,196	$14,374	4.6%	$42.03	0.0%	COM	311900104
VMC	VULCAN MATLS CO	49,427	$14,098	4.5%	$293.14	0.0%	COM	929160109
TKR	TIMKEN CO	108,472	$9,126	2.9%	$79.55	0.0%	COM	887389104
DE	DEERE & CO	17,403	$8,102	2.6%	$467.69	0.0%	COM	244199105
AGCO	AGCO CORP	68,006	$7,094	2.3%	$105.99	0.0%	COM	001084102
ALLE	ALLEGION PLC	42,279	$6,732	2.2%	$166.68	0.0%	ORD SHS	G0176J109
EMR	EMERSON ELEC CO	34,033	$4,517	1.4%	$132.37	0.0%	COM	291011104
CHD	CHURCH & DWIGHT CO INC	31,609	$2,650	0.8%	$85.27	0.0%	COM	171340102
WSO	WATSCO INC	6,430	$2,167	0.7%	$357.07	0.0%	COM	942622200
BCC	BOISE CASCADE CO DEL	1,495	$110	0.0%	$72.78	0.0%	COM	09739D100

Increased Positions (11)

RPM RPM INTL INC 4.0%

Value ($000) $12,548 (+388.1%) Shares 120,658 (+453.2%) Est. Cost $110.73 Unrealized -2.2%

HD HOME DEPOT INC 3.4%

Value ($000) $10,699 (+634.7%) Shares 31,094 (+765.2%) Est. Cost $367.43 Unrealized -0.8%

AOS SMITH A O CORP 4.2%

Value ($000) $13,213 (+166.4%) Shares 197,564 (+192.4%) Est. Cost $68.62 Unrealized -1.7%

URI UNITED RENTALS INC 4.0%

Value ($000) $12,627 (+113.0%) Shares 15,602 (+151.3%) Est. Cost $875.59 Unrealized -1.0%

SHW SHERWIN WILLIAMS CO 2.7%

Value ($000) $8,491 (+167.3%) Shares 26,205 (+185.6%) Est. Cost $338.57 Unrealized -1.3%

EME EMCOR GROUP INC 2.8%

Value ($000) $8,707 (+142.8%) Shares 14,232 (+157.8%) Est. Cost $631.55 Unrealized +2.5%

IEX IDEX CORP 4.6%

Value ($000) $14,506 (+23.3%) Shares 81,521 (+12.7%) Est. Cost $189.30 Unrealized -9.8%

TXN TEXAS INSTRS INC 3.0%

Value ($000) $9,442 (+34.2%) Shares 54,424 (+42.2%) Est. Cost $186.60 Unrealized -8.5%

APH AMPHENOL CORP NEW 4.5%

Value ($000) $14,106 (+17.6%) Shares 104,377 (+7.7%) Est. Cost $94.32 Unrealized +41.6%

CCK CROWN HLDGS INC 0.9%

Value ($000) $2,873 (+243.9%) Shares 27,898 (+222.6%) Est. Cost $98.15 Unrealized -0.8%

ITT ITT INC 3.0%

Value ($000) $9,312 (-0.7%) Shares 53,666 (+2.3%) Est. Cost $168.03 Unrealized +6.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RPM	RPM INTL INC	120,658 (+453.2%)	$12,548 (+388.1%)	4.0%	$110.73	-2.2%	COM	749685103
HD	HOME DEPOT INC	31,094 (+765.2%)	$10,699 (+634.7%)	3.4%	$367.43	-0.8%	COM	437076102
AOS	SMITH A O CORP	197,564 (+192.4%)	$13,213 (+166.4%)	4.2%	$68.62	-1.7%	COM	831865209
URI	UNITED RENTALS INC	15,602 (+151.3%)	$12,627 (+113.0%)	4.0%	$875.59	-1.0%	COM	911363109
SHW	SHERWIN WILLIAMS CO	26,205 (+185.6%)	$8,491 (+167.3%)	2.7%	$338.57	-1.3%	COM	824348106
EME	EMCOR GROUP INC	14,232 (+157.8%)	$8,707 (+142.8%)	2.8%	$631.55	+2.5%	COM	29084Q100
IEX	IDEX CORP	81,521 (+12.7%)	$14,506 (+23.3%)	4.6%	$189.30	-9.8%	COM	45167R104
TXN	TEXAS INSTRS INC	54,424 (+42.2%)	$9,442 (+34.2%)	3.0%	$186.60	-8.5%	COM	882508104
APH	AMPHENOL CORP NEW	104,377 (+7.7%)	$14,106 (+17.6%)	4.5%	$94.32	+41.6%	CL A	032095101
CCK	CROWN HLDGS INC	27,898 (+222.6%)	$2,873 (+243.9%)	0.9%	$98.15	-0.8%	COM	228368106
ITT	ITT INC	53,666 (+2.3%)	$9,312 (-0.7%)	3.0%	$168.03	+6.6%	COM	45073V108

Exited Positions (20)

GWW GRAINGER W W INC 3.8%

Value ($000) $11,788 Shares 12,370 Est. Cost $1040.40 Unrealized -6.9%

DOV DOVER CORP 3.8%

Value ($000) $11,740 Shares 70,373 Est. Cost $178.62 Unrealized +1.8%

ATR APTARGROUP INC 3.4%

Value ($000) $10,604 Shares 79,334 Est. Cost $143.40 Unrealized -14.3%

OC OWENS CORNING NEW 3.1%

Value ($000) $9,646 Shares 68,190 Est. Cost $156.60 Unrealized -25.1%

ITW ILLINOIS TOOL WKS INC 2.2%

Value ($000) $6,971 Shares 26,733 Est. Cost $240.88 Unrealized +2.8%

AXTA AXALTA COATING SYS LTD 1.8%

Value ($000) $5,554 Shares 194,060 Est. Cost $32.84 Unrealized -10.7%

APD AIR PRODS & CHEMS INC 1.4%

Value ($000) $4,441 Shares 16,283 Est. Cost $285.50 Unrealized -11.9%

HUN HUNTSMAN CORP 1.3%

Value ($000) $4,159 Shares 463,137 Est. Cost $11.28 Unrealized -18.8%

GGG GRACO INC 1.3%

Value ($000) $4,041 Shares 47,567 Est. Cost $82.43 Unrealized -0.6%

CMI CUMMINS INC 0.8%

Value ($000) $2,560 Shares 6,062 Est. Cost $338.72 Unrealized +37.7%

AYI ACUITY INC 0.7%

Value ($000) $2,031 Shares 5,898 Est. Cost $258.41 Unrealized +39.8%

HUBB HUBBELL INC 0.6%

Value ($000) $1,974 Shares 4,588 Est. Cost $428.19 Unrealized +2.1%

MAS MASCO CORP 0.6%

Value ($000) $1,754 Shares 24,923 Est. Cost $73.59 Unrealized -12.0%

PCAR PACCAR INC 0.4%

Value ($000) $1,333 Shares 13,555 Est. Cost $96.91 Unrealized +4.4%

ROK ROCKWELL AUTOMATION INC 0.4%

Value ($000) $1,137 Shares 3,252 Est. Cost $343.44 Unrealized +9.3%

RBC RBC BEARINGS INC 0.2%

Value ($000) $710 Shares 1,818 Est. Cost $389.28 Unrealized +8.8%

PG PROCTER AND GAMBLE CO 0.2%

Value ($000) $647 Shares 4,209 Est. Cost $154.90 Unrealized -5.0%

GNRC GENERAC HLDGS INC 0.2%

Value ($000) $604 Shares 3,607 Est. Cost $159.23 Unrealized +1.3%

BALL BALL CORP 0.1%

Value ($000) $182 Shares 3,603 Est. Cost $53.70 Unrealized -8.6%

CARR CARRIER GLOBAL CORPORATION 0.0%

Value ($000) $105 Shares 1,754 Est. Cost $67.63 Unrealized -17.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GWW	GRAINGER W W INC	12,370	$11,788	3.8%	$1040.40	-6.9%	—	384802104
DOV	DOVER CORP	70,373	$11,740	3.8%	$178.62	+1.8%	—	260003108
ATR	APTARGROUP INC	79,334	$10,604	3.4%	$143.40	-14.3%	—	038336103
OC	OWENS CORNING NEW	68,190	$9,646	3.1%	$156.60	-25.1%	—	690742101
ITW	ILLINOIS TOOL WKS INC	26,733	$6,971	2.2%	$240.88	+2.8%	—	452308109
AXTA	AXALTA COATING SYS LTD	194,060	$5,554	1.8%	$32.84	-10.7%	—	G0750C108
APD	AIR PRODS & CHEMS INC	16,283	$4,441	1.4%	$285.50	-11.9%	—	009158106
HUN	HUNTSMAN CORP	463,137	$4,159	1.3%	$11.28	-18.8%	—	447011107
GGG	GRACO INC	47,567	$4,041	1.3%	$82.43	-0.6%	—	384109104
CMI	CUMMINS INC	6,062	$2,560	0.8%	$338.72	+37.7%	—	231021106
AYI	ACUITY INC	5,898	$2,031	0.7%	$258.41	+39.8%	—	00508Y102
HUBB	HUBBELL INC	4,588	$1,974	0.6%	$428.19	+2.1%	—	443510607
MAS	MASCO CORP	24,923	$1,754	0.6%	$73.59	-12.0%	—	574599106
PCAR	PACCAR INC	13,555	$1,333	0.4%	$96.91	+4.4%	—	693718108
ROK	ROCKWELL AUTOMATION INC	3,252	$1,137	0.4%	$343.44	+9.3%	—	773903109
RBC	RBC BEARINGS INC	1,818	$710	0.2%	$389.28	+8.8%	—	75524B104
PG	PROCTER AND GAMBLE CO	4,209	$647	0.2%	$154.90	-5.0%	—	742718109
GNRC	GENERAC HLDGS INC	3,607	$604	0.2%	$159.23	+1.3%	—	368736104
BALL	BALL CORP	3,603	$182	0.1%	$53.70	-8.6%	—	058498106
CARR	CARRIER GLOBAL CORPORATION	1,754	$105	0.0%	$67.63	-17.9%	—	14448C104

Decreased Positions (12)

PH PARKER-HANNIFIN CORP 0.0%

Value ($000) $111 (-99.0%) Shares 126 (-99.1%) Est. Cost $628.26 Unrealized +30.2%

JBTM JBT MAREL CORPORATION 1.0%

Value ($000) $3,105 (-70.6%) Shares 20,609 (-72.6%) Est. Cost $131.15 Unrealized +7.5%

LII LENNOX INTL INC 0.5%

Value ($000) $1,457 (-82.2%) Shares 3,001 (-80.6%) Est. Cost $616.39 Unrealized -18.9%

SNA SNAP ON INC 0.3%

Value ($000) $861 (-87.3%) Shares 2,499 (-87.3%) Est. Cost $316.33 Unrealized +7.6%

AIT APPLIED INDL TECHNOLOGIES IN 1.0%

Value ($000) $2,987 (-63.3%) Shares 11,633 (-62.7%) Est. Cost $226.02 Unrealized +12.9%

GPK GRAPHIC PACKAGING HLDG CO 0.8%

Value ($000) $2,586 (-62.9%) Shares 171,723 (-51.7%) Est. Cost $23.12 Unrealized -28.9%

BLDR BUILDERS FIRSTSOURCE INC 0.1%

Value ($000) $297 (-93.2%) Shares 2,887 (-91.9%) Est. Cost $132.67 Unrealized -15.3%

JCI JOHNSON CTLS INTL PLC 1.9%

Value ($000) $6,034 (-36.3%) Shares 50,391 (-41.5%) Est. Cost $93.99 Unrealized +22.2%

CNH CNH INDL N V 2.8%

Value ($000) $8,667 (-25.7%) Shares 940,055 (-12.5%) Est. Cost $12.22 Unrealized -18.3%

PPG PPG INDS INC 2.6%

Value ($000) $8,114 (-25.2%) Shares 79,190 (-23.3%) Est. Cost $109.99 Unrealized -9.0%

RRX REGAL REXNORD CORPORATION 0.2%

Value ($000) $558 (-78.0%) Shares 3,977 (-77.5%) Est. Cost $147.38 Unrealized -3.5%

ST SENSATA TECHNOLOGIES HLDG PL 1.4%

Value ($000) $4,518 (-11.4%) Shares 135,714 (-18.7%) Est. Cost $30.54 Unrealized +4.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PH	PARKER-HANNIFIN CORP	126 (-99.1%)	$111 (-99.0%)	0.0%	$628.26	+30.2%	COM	701094104
JBTM	JBT MAREL CORPORATION	20,609 (-72.6%)	$3,105 (-70.6%)	1.0%	$131.15	+7.5%	COM	477839104
LII	LENNOX INTL INC	3,001 (-80.6%)	$1,457 (-82.2%)	0.5%	$616.39	-18.9%	COM	526107107
SNA	SNAP ON INC	2,499 (-87.3%)	$861 (-87.3%)	0.3%	$316.33	+7.6%	COM	833034101
AIT	APPLIED INDL TECHNOLOGIES IN	11,633 (-62.7%)	$2,987 (-63.3%)	1.0%	$226.02	+12.9%	COM	03820C105
GPK	GRAPHIC PACKAGING HLDG CO	171,723 (-51.7%)	$2,586 (-62.9%)	0.8%	$23.12	-28.9%	COM	388689101
BLDR	BUILDERS FIRSTSOURCE INC	2,887 (-91.9%)	$297 (-93.2%)	0.1%	$132.67	-15.3%	COM	12008R107
JCI	JOHNSON CTLS INTL PLC	50,391 (-41.5%)	$6,034 (-36.3%)	1.9%	$93.99	+22.2%	SHS	G51502105
CNH	CNH INDL N V	940,055 (-12.5%)	$8,667 (-25.7%)	2.8%	$12.22	-18.3%	SHS	N20944109
PPG	PPG INDS INC	79,190 (-23.3%)	$8,114 (-25.2%)	2.6%	$109.99	-9.0%	COM	693506107
RRX	REGAL REXNORD CORPORATION	3,977 (-77.5%)	$558 (-78.0%)	0.2%	$147.38	-3.5%	COM	758750103
ST	SENSATA TECHNOLOGIES HLDG PL	135,714 (-18.7%)	$4,518 (-11.4%)	1.4%	$30.54	+4.7%	SHS	G8060N102

Unchanged Positions (1)

AMZN AMAZON COM INC 14.0%

Value ($000) $43,782 Shares 189,680 Est. Cost $197.89 Unrealized +15.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AMZN	AMAZON COM INC	189,680	$43,782	14.0%	$197.89	+15.6%	COM	023135106