# EDGAR Filing Document

**Accession Number:** 0001966007
**File Stem:** 0001398344-26-008142
**Filing Date:** 2026-5
**Character Count:** 24977
**Document Hash:** b3ce1e03e1c9bc0b56051e9f4ecc2153
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-26-008142.hdr.sgml**: 20260504

**ACCESSION NUMBER**: 0001398344-26-008142

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260504

**DATE AS OF CHANGE**: 20260504

**EFFECTIVENESS DATE**: 20260504

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Applied Finance Capital Management, LLC
- **CENTRAL INDEX KEY:** 0001966007

**ORGANIZATION NAME:**
- **EIN:** 660823991
- **STATE OF INCORPORATION:** PR

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-23109
- **FILM NUMBER:** 26934803

**BUSINESS ADDRESS:**
- **STREET 1:** 53 CALLE PALMERAS
- **STREET 2:** SUITE 601
- **CITY:** SAN JUAN
- **STATE:** PR
- **ZIP:** 00901
- **BUSINESS PHONE:** 787-626-0404

**MAIL ADDRESS:**
- **STREET 1:** 53 CALLE PALMERAS
- **STREET 2:** SUITE 601
- **CITY:** SAN JUAN
- **STATE:** PR
- **ZIP:** 00901

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Applied Finance Capital Management LLC<br>**Address:** 53 CALLE PALMERAS<br>SUITE 601<br>SAN JUAN, PR 00901

**Form 13F File Number:** 028-23109

**CRD Number (if applicable):** 000226755

**SEC File Number (if applicable):** 801-98338

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** David D. Jones<br>**Title:** Chief Compliance Officer<br>**Phone:** 210-540-1681

**Signature, Place, and Date of Signing:**

/s/ David D. Jones  San Antonio, TX  04-30-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 218

**Form 13F Information Table Value Total:** $1332103717

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| APPLE INC. | COM | 037833100 |  | 59876887 | 235931 | SH |  | SOLE |  | 233695 | 0 | 2236 |
| MICROSOFT CORPORATION | COM | 594918104 |  | 46648533 | 126019 | SH |  | SOLE |  | 124870 | 0 | 1149 |
| APPLIED MATERIALS INC. | COM | 038222105 |  | 44139769 | 129143 | SH |  | SOLE |  | 127199 | 0 | 1944 |
| ALPHABET INC | COM | 02079K305 |  | 40151546 | 139628 | SH |  | SOLE |  | 138039 | 0 | 1589 |
| KLA CORP | COM | 482480100 |  | 39793959 | 27026 | SH |  | SOLE |  | 26691 | 0 | 335 |
| META PLATFORMS INC | COM | 30303M102 |  | 37825552 | 66114 | SH |  | SOLE |  | 65387 | 0 | 727 |
| CISCO SYSTEMS INCORPORATED | COM | 17275R102 |  | 35642612 | 459371 | SH |  | SOLE |  | 451075 | 0 | 8296 |
| VERIZON COMMUNICATIONS | COM | 92343V104 |  | 35571743 | 708600 | SH |  | SOLE |  | 696406 | 0 | 12194 |
| MASTERCARD INC. | COM | 57636Q104 |  | 29310814 | 58662 | SH |  | SOLE |  | 58170 | 0 | 492 |
| HP INC | COM | 40434L105 |  | 27181825 | 1414983 | SH |  | SOLE |  | 1388130 | 0 | 26853 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 27019269 | 154927 | SH |  | SOLE |  | 154318 | 0 | 609 |
| INTERNATIONAL BUSINESS MACHINE | COM | 459200101 |  | 26232717 | 108225 | SH |  | SOLE |  | 106685 | 0 | 1540 |
| ADOBE INC | COM | 00724F101 |  | 24323314 | 100063 | SH |  | SOLE |  | 98493 | 0 | 1570 |
| ROPER TECHNOLOGIES INC | COM | 776696106 |  | 24270822 | 68589 | SH |  | SOLE |  | 67581 | 0 | 1008 |
| WALT DISNEY CO | COM | 254687106 |  | 23519147 | 244025 | SH |  | SOLE |  | 240917 | 0 | 3108 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 23117759 | 175135 | SH |  | SOLE |  | 173374 | 0 | 1761 |
| LOWE'S COMPANIES INC. | COM | 548661107 |  | 23102401 | 97776 | SH |  | SOLE |  | 96728 | 0 | 1048 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 23071242 | 79098 | SH |  | SOLE |  | 77608 | 0 | 1490 |
| ORACLE CORP | COM | 68389X105 |  | 22937046 | 155918 | SH |  | SOLE |  | 153601 | 0 | 2317 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 22199366 | 89847 | SH |  | SOLE |  | 88704 | 0 | 1143 |
| QUANTA SERVICES INCORPORATED | COM | 74762E102 |  | 22065053 | 40190 | SH |  | SOLE |  | 39659 | 0 | 531 |
| DARDEN RESTAURANTS INC. | COM | 237194105 |  | 21861487 | 111515 | SH |  | SOLE |  | 109417 | 0 | 2098 |
| MERCK  CO.  INC. | COM | 58933Y105 |  | 21520637 | 178906 | SH |  | SOLE |  | 176005 | 0 | 2901 |
| WESTINGHOUSE AIR BRAKE TECHNOL | COM | 929740108 |  | 20502269 | 82039 | SH |  | SOLE |  | 80925 | 0 | 1114 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 20116085 | 68385 | SH |  | SOLE |  | 67091 | 0 | 1294 |
| AMERIPRISE FINANCIAL INC. | COM | 03076C106 |  | 20111082 | 45254 | SH |  | SOLE |  | 44497 | 0 | 757 |
| D.R. HORTON INC | COM | 23331A109 |  | 19874433 | 144836 | SH |  | SOLE |  | 142974 | 0 | 1862 |
| UNION PACIFIC CORPORATION | COM | 907818108 |  | 19508937 | 80409 | SH |  | SOLE |  | 79359 | 0 | 1050 |
| CUMMINS INC | COM | 231021106 |  | 19471377 | 36191 | SH |  | SOLE |  | 35756 | 0 | 435 |
| LKQ CORPORATION | COM | 501889208 |  | 19449280 | 662216 | SH |  | SOLE |  | 653679 | 0 | 8537 |
| BANK OF AMERICA CORPORATION | COM | 060505104 |  | 19212231 | 394097 | SH |  | SOLE |  | 388941 | 0 | 5156 |
| TARGET CORPORATION | COM | 87612E106 |  | 18854643 | 155566 | SH |  | SOLE |  | 152693 | 0 | 2873 |
| APTIV PLC | COM | G3265R107 |  | 18688665 | 269134 | SH |  | SOLE |  | 265428 | 0 | 3706 |
| METLIFE INC. | COM | 59156R108 |  | 17802520 | 251732 | SH |  | SOLE |  | 248463 | 0 | 3269 |
| BROADCOM INC | COM | 11135F101 |  | 15868887 | 51271 | SH |  | SOLE |  | 51271 | 0 | 0 |
| FISERV INC. | COM | 337738108 |  | 15854175 | 284125 | SH |  | SOLE |  | 280260 | 0 | 3865 |
| UNITED RENTALS INC | COM | 911363109 |  | 15825018 | 21721 | SH |  | SOLE |  | 21485 | 0 | 236 |
| MCKESSON CORPORATION | COM | 58155Q103 |  | 15367694 | 17759 | SH |  | SOLE |  | 17552 | 0 | 207 |
| CBRE GROUP INCORPORATED | COM | 12504L109 |  | 15294111 | 112905 | SH |  | SOLE |  | 111339 | 0 | 1566 |
| CONSTELLATION BRANDS INC. | COM | 21036P108 |  | 14844035 | 98960 | SH |  | SOLE |  | 97381 | 0 | 1579 |
| TYSON FOODS INC. | COM | 902494103 |  | 14703375 | 229489 | SH |  | SOLE |  | 226323 | 0 | 3166 |
| KEURIG DR PEPPER INC | COM | 49271V100 |  | 13183633 | 500708 | SH |  | SOLE |  | 494765 | 0 | 5943 |
| REGENERON PHARMACEUTICALS INCO | COM | 75886F107 |  | 13007763 | 16835 | SH |  | SOLE |  | 16622 | 0 | 213 |
| VISA INCORPORATION | COM | 92826C839 |  | 12017969 | 39763 | SH |  | SOLE |  | 39763 | 0 | 0 |
| INCYTE CORP | COM | 45337C102 |  | 11897333 | 126406 | SH |  | SOLE |  | 123749 | 0 | 2657 |
| STRYKER CORPORATION | COM | 863667101 |  | 11709889 | 35637 | SH |  | SOLE |  | 35191 | 0 | 446 |
| DTE ENERGY COMPANY | COM | 233331107 |  | 11664825 | 79776 | SH |  | SOLE |  | 78642 | 0 | 1134 |
| THERMO FISHER SCIENTIFIC INC. | COM | 883556102 |  | 11480196 | 23356 | SH |  | SOLE |  | 23073 | 0 | 283 |
| ALPHABET INC | COM | 02079K107 |  | 11474400 | 40000 | SH |  | SOLE |  | 40000 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 11310301 | 157481 | SH |  | SOLE |  | 155233 | 0 | 2248 |
| PUBLIC SERVICE ENTERPRISE GROU | COM | 744573106 |  | 11279416 | 139338 | SH |  | SOLE |  | 136013 | 0 | 3325 |
| STEEL DYNAMICS INC | COM | 858119100 |  | 9977719 | 55432 | SH |  | SOLE |  | 54646 | 0 | 786 |
| SHERWIN-WILLIAMS CO | COM | 824348106 |  | 9810926 | 30607 | SH |  | SOLE |  | 30230 | 0 | 377 |
| DANAHER CORP | COM | 235851102 |  | 9743365 | 51389 | SH |  | SOLE |  | 50719 | 0 | 670 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 9087057 | 37175 | SH |  | SOLE |  | 36516 | 0 | 659 |
| ABBVIE INC | COM | 00287Y109 |  | 6540142 | 30071 | SH |  | SOLE |  | 29489 | 0 | 582 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 4547146 | 1080 | SH |  | SOLE |  | 1080 | 0 | 0 |
| MARRIOTT INTERNATIONAL INC. | COM | 571903202 |  | 3829008 | 11707 | SH |  | SOLE |  | 11383 | 0 | 324 |
| CHENIERE ENERGY INC. | COM | 16411R208 |  | 3722364 | 13118 | SH |  | SOLE |  | 13118 | 0 | 0 |
| O'REILLY AUTOMOTIVE INC. | COM | 67103H107 |  | 3467902 | 37568 | SH |  | SOLE |  | 36581 | 0 | 987 |
| AMGEN INC | COM | 031162100 |  | 3178261 | 9033 | SH |  | SOLE |  | 9033 | 0 | 0 |
| MICRON TECHNOLOGY INC. | COM | 595112103 |  | 3158128 | 9348 | SH |  | SOLE |  | 9014 | 0 | 334 |
| HILTON WORLDWIDE HOLDINGS INC | COM | 43300A203 |  | 3155134 | 10376 | SH |  | SOLE |  | 10033 | 0 | 343 |
| APPLIED FINANCE VALUATION LARGE CAP ETF | COM | 26923N405 |  | 2961277 | 70827 | SH |  | SOLE |  | 0 | 0 | 70827 |
| GILEAD SCIENCES INC. | COM | 375558103 |  | 2827399 | 20287 | SH |  | SOLE |  | 20287 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 2445592 | 9038 | SH |  | SOLE |  | 9038 | 0 | 0 |
| PROGRESSIVE CORP | COM | 743315103 |  | 2401678 | 12115 | SH |  | SOLE |  | 12115 | 0 | 0 |
| ISHARES RUSSELL 1000 VALUE ETF | COM | 464287598 |  | 2394172 | 11205 | SH |  | SOLE |  | 11205 | 0 | 0 |
| EOG RESOURCES INC | COM | 26875P101 |  | 2173321 | 15033 | SH |  | SOLE |  | 15033 | 0 | 0 |
| LYONDELLBASELL INDUSTRIES NV | COM | N53745100 |  | 2090290 | 25947 | SH |  | SOLE |  | 23211 | 0 | 2736 |
| MONDELEZ INTERNATIONAL INCORPO | COM | 609207105 |  | 1909728 | 33132 | SH |  | SOLE |  | 33132 | 0 | 0 |
| T-MOBILE US INC | COM | 872590104 |  | 1891740 | 9007 | SH |  | SOLE |  | 8485 | 0 | 522 |
| LAM RESEARCH CORPORATION | COM | 512807306 |  | 1882131 | 8809 | SH |  | SOLE |  | 8266 | 0 | 543 |
| ACCENTURE PLC | COM | G1151C101 |  | 1871263 | 9437 | SH |  | SOLE |  | 8912 | 0 | 525 |
| SOUTHERN CO | COM | 842587107 |  | 1869206 | 19366 | SH |  | SOLE |  | 19200 | 0 | 166 |
| YUM! BRANDS INC. | COM | 988498101 |  | 1849590 | 11896 | SH |  | SOLE |  | 11896 | 0 | 0 |
| NORFOLK SOUTHERN CORPORATION | COM | 655844108 |  | 1740942 | 6066 | SH |  | SOLE |  | 5453 | 0 | 613 |
| DELL TECHNOLOGIES INC | COM | 24703L202 |  | 1738301 | 10591 | SH |  | SOLE |  | 10591 | 0 | 0 |
| AUTOZONE INC. | COM | 053332102 |  | 1722668 | 510 | SH |  | SOLE |  | 510 | 0 | 0 |
| HCA HEALTHCARE INC | COM | 40412C101 |  | 1511055 | 3193 | SH |  | SOLE |  | 2985 | 0 | 208 |
| TRANSDIGM GROUP INCORPORATED | COM | 893641100 |  | 1476515 | 1274 | SH |  | SOLE |  | 1274 | 0 | 0 |
| PACCAR INC | COM | 693718108 |  | 1459227 | 12634 | SH |  | SOLE |  | 11492 | 0 | 1142 |
| MARATHON PETROLEUM CORP | COM | 56585A102 |  | 1400616 | 5736 | SH |  | SOLE |  | 4951 | 0 | 785 |
| UGI CORPORATION | COM | 902681105 |  | 1365969 | 37506 | SH |  | SOLE |  | 33961 | 0 | 3545 |
| PFIZER INC | COM | 717081103 |  | 1309511 | 46635 | SH |  | SOLE |  | 46635 | 0 | 0 |
| KROGER CO | COM | 501044101 |  | 1280338 | 17694 | SH |  | SOLE |  | 17694 | 0 | 0 |
| NRG ENERGY INC. | COM | 629377508 |  | 1278433 | 8748 | SH |  | SOLE |  | 8748 | 0 | 0 |
| MOODY'S CORPORATION | COM | 615369105 |  | 1267306 | 2905 | SH |  | SOLE |  | 2905 | 0 | 0 |
| CHEVRON CORP | COM | 166764100 |  | 1257331 | 6077 | SH |  | SOLE |  | 5310 | 0 | 767 |
| CSX CORP | COM | 126408103 |  | 1216804 | 29642 | SH |  | SOLE |  | 28604 | 0 | 1038 |
| TRANE TECHNOLOGIES PLC | COM | G8994E103 |  | 1202712 | 2886 | SH |  | SOLE |  | 2886 | 0 | 0 |
| INGREDION INCORPORATION | COM | 457187102 |  | 1149921 | 10207 | SH |  | SOLE |  | 9042 | 0 | 1165 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 1136060 | 1269 | SH |  | SOLE |  | 1269 | 0 | 0 |
| NOVARTIS AG | COM | 66987V109 |  | 1095370 | 7171 | SH |  | SOLE |  | 6147 | 0 | 1024 |
| SEMPRA | COM | 816851109 |  | 1095106 | 11270 | SH |  | SOLE |  | 9619 | 0 | 1651 |
| HASBRO INC | COM | 418056107 |  | 1091938 | 11666 | SH |  | SOLE |  | 10019 | 0 | 1647 |
| AMERICAN TOWER CORPORATION | COM | 03027X100 |  | 1091569 | 6325 | SH |  | SOLE |  | 6325 | 0 | 0 |
| HERSHEY CO | COM | 427866108 |  | 1088512 | 5236 | SH |  | SOLE |  | 5236 | 0 | 0 |
| EATON CORP PLC | COM | G29183103 |  | 1066572 | 2982 | SH |  | SOLE |  | 2609 | 0 | 373 |
| QUALCOMM INCORPORATED | COM | 747525103 |  | 1044792 | 8113 | SH |  | SOLE |  | 8113 | 0 | 0 |
| OTIS WORLDWIDE CORP | COM | 68902V107 |  | 1031022 | 13376 | SH |  | SOLE |  | 13376 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 1016331 | 35058 | SH |  | SOLE |  | 35058 | 0 | 0 |
| RTX CORP | COM | 75513E101 |  | 1010024 | 5236 | SH |  | SOLE |  | 4487 | 0 | 749 |
| OMEGA HEALTHCARE INVESTORS IN | COM | 681936100 |  | 1004004 | 22912 | SH |  | SOLE |  | 19532 | 0 | 3380 |
| PNC FINANCIAL SERVICES GROUP I | COM | 693475105 |  | 1001953 | 4815 | SH |  | SOLE |  | 4093 | 0 | 722 |
| AUTOMATIC DATA PROCESSING INC | COM | 053015103 |  | 989690 | 4871 | SH |  | SOLE |  | 4871 | 0 | 0 |
| ZOETIS INC | COM | 98978V103 |  | 988590 | 8363 | SH |  | SOLE |  | 7682 | 0 | 681 |
| MOLSON COORS BEVERAGE CO | COM | 60871R209 |  | 981811 | 22801 | SH |  | SOLE |  | 20351 | 0 | 2450 |
| COMCAST CORP | COM | 20030N101 |  | 980389 | 34148 | SH |  | SOLE |  | 34148 | 0 | 0 |
| STATE STREET CORP | COM | 857477103 |  | 965400 | 7628 | SH |  | SOLE |  | 6552 | 0 | 1076 |
| TRUIST FINANCIAL CORP | COM | 89832Q109 |  | 935122 | 20342 | SH |  | SOLE |  | 17513 | 0 | 2829 |
| HUNTINGTON BANCSHARES INCORPOR | COM | 446150104 |  | 908983 | 58082 | SH |  | SOLE |  | 49716 | 0 | 8366 |
| INTERCONTINENTAL EXCHANGE INC | COM | 45866F104 |  | 887531 | 5643 | SH |  | SOLE |  | 5063 | 0 | 580 |
| UNILEVER PLC - ADR | COM | 904767803 |  | 886341 | 15558 | SH |  | SOLE |  | 13511 | 0 | 2047 |
| SIMON PROPERTY GROUP INC | COM | 828806109 |  | 870722 | 4668 | SH |  | SOLE |  | 4399 | 0 | 269 |
| ELI LILLY AND COMPANY | COM | 532457108 |  | 868263 | 944 | SH |  | SOLE |  | 809 | 0 | 135 |
| HALLIBURTON COMPANY | COM | 406216101 |  | 861094 | 22085 | SH |  | SOLE |  | 22085 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 854456 | 2598 | SH |  | SOLE |  | 2277 | 0 | 321 |
| FORTINET INCORPORATION | COM | 34959E109 |  | 813441 | 9954 | SH |  | SOLE |  | 8687 | 0 | 1267 |
| CHUBB LIMITED | COM | H1467J104 |  | 770499 | 2364 | SH |  | SOLE |  | 2364 | 0 | 0 |
| PRUDENTIAL FINANCIAL INCORPOR | COM | 744320102 |  | 743909 | 7615 | SH |  | SOLE |  | 6438 | 0 | 1177 |
| ALLSTATE CORP | COM | 020002101 |  | 739167 | 3565 | SH |  | SOLE |  | 3565 | 0 | 0 |
| WW GRAINGER INC | COM | 384802104 |  | 734115 | 673 | SH |  | SOLE |  | 673 | 0 | 0 |
| RESTAURANT BRANDS INTERNATIONA | COM | 76131D103 |  | 731536 | 9899 | SH |  | SOLE |  | 9899 | 0 | 0 |
| NVR INC. | COM | 62944T105 |  | 731471 | 111 | SH |  | SOLE |  | 111 | 0 | 0 |
| ABBOTT LABORATORIES | COM | 002824100 |  | 730702 | 7117 | SH |  | SOLE |  | 6035 | 0 | 1082 |
| FREEPORT-MCMORAN INC | COM | 35671D857 |  | 729048 | 12403 | SH |  | SOLE |  | 12087 | 0 | 316 |
| ARISTA NETWORKS INC | COM | 040413205 |  | 728822 | 5936 | SH |  | SOLE |  | 5936 | 0 | 0 |
| COMFORT SYSTEMS USA INC | COM | 199908104 |  | 721212 | 523 | SH |  | SOLE |  | 523 | 0 | 0 |
| LULULEMON ATHLETICA INCORPORAT | COM | 550021109 |  | 709006 | 4631 | SH |  | SOLE |  | 4631 | 0 | 0 |
| PULTEGROUP INCORPORATION | COM | 745867101 |  | 704954 | 5994 | SH |  | SOLE |  | 5994 | 0 | 0 |
| INTUIT INC | COM | 461202103 |  | 687052 | 1589 | SH |  | SOLE |  | 1589 | 0 | 0 |
| PAYPAL HOLDINGS INC | COM | 70450Y103 |  | 672163 | 14861 | SH |  | SOLE |  | 14861 | 0 | 0 |
| APA CORP (US) | COM | 03743Q108 |  | 660663 | 15567 | SH |  | SOLE |  | 15567 | 0 | 0 |
| WHIRLPOOL CORPORATION | COM | 963320106 |  | 657015 | 12185 | SH |  | SOLE |  | 10399 | 0 | 1786 |
| SALESFORCE INC | COM | 79466L302 |  | 656892 | 3519 | SH |  | SOLE |  | 3519 | 0 | 0 |
| FERGUSON ENTERPRISES INC | COM | 31488V107 |  | 649163 | 2783 | SH |  | SOLE |  | 2783 | 0 | 0 |
| AMETEK INC | COM | 031100100 |  | 632576 | 2951 | SH |  | SOLE |  | 2951 | 0 | 0 |
| IQVIA HOLDINGS INC | COM | 46266C105 |  | 619913 | 3635 | SH |  | SOLE |  | 3635 | 0 | 0 |
| MOTOROLA SOLUTIONS INCORPORATI | COM | 620076307 |  | 618407 | 1425 | SH |  | SOLE |  | 1425 | 0 | 0 |
| ALBERTSONS COMPANIES INC | COM | 013091103 |  | 608175 | 35691 | SH |  | SOLE |  | 35691 | 0 | 0 |
| CHURCH  DWIGHT CO. INC. | COM | 171340102 |  | 603034 | 6462 | SH |  | SOLE |  | 6462 | 0 | 0 |
| METTLER-TOLEDO INTERNATIONAL I | COM | 592688105 |  | 599070 | 475 | SH |  | SOLE |  | 475 | 0 | 0 |
| DOMINO' S PIZZA INC. | COM | 25754A201 |  | 592362 | 1651 | SH |  | SOLE |  | 1651 | 0 | 0 |
| NASDAQ INC | COM | 631103108 |  | 578440 | 6814 | SH |  | SOLE |  | 5764 | 0 | 1050 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 569843 | 1651 | SH |  | SOLE |  | 1651 | 0 | 0 |
| FAIR ISAAC CORP. | COM | 303250104 |  | 566864 | 531 | SH |  | SOLE |  | 470 | 0 | 61 |
| BUNGE GLOBAL SA | COM | H11356104 |  | 555482 | 4367 | SH |  | SOLE |  | 4367 | 0 | 0 |
| VERISIGN INC | COM | 92343E102 |  | 544653 | 2193 | SH |  | SOLE |  | 1757 | 0 | 436 |
| LEIDOS HOLDINGS INC | COM | 525327102 |  | 541210 | 3480 | SH |  | SOLE |  | 3480 | 0 | 0 |
| ARCHER-DANIELS-MIDLAND CO | COM | 039483102 |  | 535289 | 7364 | SH |  | SOLE |  | 7364 | 0 | 0 |
| GENERAL MILLS INC. | COM | 370334104 |  | 531539 | 14281 | SH |  | SOLE |  | 14281 | 0 | 0 |
| BJS WHOLESALE CLUB HOLDINGS IN | COM | 05550J101 |  | 529893 | 5384 | SH |  | SOLE |  | 5384 | 0 | 0 |
| FLUTTER ENTERTAINMENT PLC | COM | G3643J108 |  | 508323 | 4986 | SH |  | SOLE |  | 4986 | 0 | 0 |
| OVINTIV INC | COM | 69047Q102 |  | 484259 | 8158 | SH |  | SOLE |  | 8158 | 0 | 0 |
| DECKERS OUTDOOR CORPORATION | COM | 243537107 |  | 479131 | 4787 | SH |  | SOLE |  | 4787 | 0 | 0 |
| CBOE GLOBAL MARKETS INC | COM | 12503M108 |  | 459831 | 1636 | SH |  | SOLE |  | 1272 | 0 | 364 |
| CARNIVAL CORP | COM | 143658300 |  | 453961 | 17541 | SH |  | SOLE |  | 17541 | 0 | 0 |
| EXPEDIA GROUP INC | COM | 30212P303 |  | 446772 | 1935 | SH |  | SOLE |  | 1935 | 0 | 0 |
| DELTA AIR LINES INC | COM | 247361702 |  | 437771 | 6585 | SH |  | SOLE |  | 6585 | 0 | 0 |
| NATIONAL FUEL GAS COMPANY | COM | 636180101 |  | 435880 | 4639 | SH |  | SOLE |  | 4639 | 0 | 0 |
| EMCOR GROUP INC | COM | 29084Q100 |  | 434865 | 589 | SH |  | SOLE |  | 589 | 0 | 0 |
| FEDEX CORPORATION | COM | 31428X106 |  | 424923 | 1193 | SH |  | SOLE |  | 1193 | 0 | 0 |
| BROWN-FORMAN CORPORATION | COM | 115637209 |  | 407361 | 15407 | SH |  | SOLE |  | 15407 | 0 | 0 |
| BROADRIDGE FINANCIAL SOLUTIONS | COM | 11133T103 |  | 401326 | 2470 | SH |  | SOLE |  | 2307 | 0 | 163 |
| VERALTO CORP | COM | 92338C103 |  | 400043 | 4524 | SH |  | SOLE |  | 4524 | 0 | 0 |
| PILGRIMS PRIDE CORP | COM | 72147K108 |  | 386927 | 10247 | SH |  | SOLE |  | 10247 | 0 | 0 |
| MASCO CORPORATION | COM | 574599106 |  | 377192 | 6248 | SH |  | SOLE |  | 6248 | 0 | 0 |
| RESMED INC. | COM | 761152107 |  | 376228 | 1676 | SH |  | SOLE |  | 1676 | 0 | 0 |
| GE HEALTHCARE TECHNOLOGIES INC | COM | 36266G107 |  | 368001 | 5170 | SH |  | SOLE |  | 5170 | 0 | 0 |
| AFLAC INC | COM | 001055102 |  | 366651 | 3342 | SH |  | SOLE |  | 3342 | 0 | 0 |
| J M SMUCKER CO | COM | 832696405 |  | 359625 | 3729 | SH |  | SOLE |  | 3729 | 0 | 0 |
| CHARTER COMMUNICATIONS INC | COM | 16119P108 |  | 356202 | 1650 | SH |  | SOLE |  | 1650 | 0 | 0 |
| FORTIVE CORP | COM | 34959J108 |  | 355616 | 6433 | SH |  | SOLE |  | 6433 | 0 | 0 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 |  | 339157 | 2508 | SH |  | SOLE |  | 2508 | 0 | 0 |
| BIOGEN INC | COM | 09062X103 |  | 337694 | 1842 | SH |  | SOLE |  | 1842 | 0 | 0 |
| UNITED THERAPEUTICS CORPORATIO | COM | 91307C102 |  | 335627 | 566 | SH |  | SOLE |  | 566 | 0 | 0 |
| CIGNA GROUP | COM | 125523100 |  | 326502 | 1224 | SH |  | SOLE |  | 1224 | 0 | 0 |
| LENNOX INTERNATIONAL INCORPORA | COM | 526107107 |  | 323963 | 698 | SH |  | SOLE |  | 625 | 0 | 73 |
| EQUITABLE HLDGS INC | COM | 29452E101 |  | 318923 | 8594 | SH |  | SOLE |  | 8594 | 0 | 0 |
| AGILENT TECHNOLOGIES INC. | COM | 00846U101 |  | 317320 | 2784 | SH |  | SOLE |  | 2784 | 0 | 0 |
| TRANSUNION | COM | 89400J107 |  | 316613 | 4576 | SH |  | SOLE |  | 4576 | 0 | 0 |
| BEST BUY CO. INC. | COM | 086516101 |  | 315736 | 4918 | SH |  | SOLE |  | 4918 | 0 | 0 |
| PPG INDUSTRIES INC. | COM | 693506107 |  | 313693 | 2935 | SH |  | SOLE |  | 2935 | 0 | 0 |
| LENNAR CORPORATION | COM | 526057104 |  | 311669 | 3589 | SH |  | SOLE |  | 3589 | 0 | 0 |
| TENET HEALTHCARE CORPORATION | COM | 88033G407 |  | 310239 | 1644 | SH |  | SOLE |  | 1644 | 0 | 0 |
| KRAFT HEINZ CO | COM | 500754106 |  | 309395 | 13757 | SH |  | SOLE |  | 13757 | 0 | 0 |
| UNITED AIRLINES HOLDINGS INC | COM | 910047109 |  | 307974 | 3345 | SH |  | SOLE |  | 3345 | 0 | 0 |
| ARCH CAPITAL GROUP LTD. | COM | G0450A105 |  | 301313 | 3139 | SH |  | SOLE |  | 3139 | 0 | 0 |
| TOPBUILD CORP | COM | 89055F103 |  | 300362 | 855 | SH |  | SOLE |  | 855 | 0 | 0 |
| WILLIS TOWERS WATSON PLC | COM | G96629103 |  | 293607 | 1010 | SH |  | SOLE |  | 1010 | 0 | 0 |
| FACTSET RESEARCH SYSTEMS INC. | COM | 303075105 |  | 292286 | 1347 | SH |  | SOLE |  | 1046 | 0 | 301 |
| ALLISON TRANSMISSION HOLDINGS | COM | 01973R101 |  | 285158 | 2436 | SH |  | SOLE |  | 2436 | 0 | 0 |
| BOOZ ALLEN HAMILTON HOLDING CO | COM | 099502106 |  | 280986 | 3601 | SH |  | SOLE |  | 3601 | 0 | 0 |
| EQUIFAX INCORPORATED | COM | 294429105 |  | 280729 | 1559 | SH |  | SOLE |  | 1559 | 0 | 0 |
| WEATHERFORD INTERNATIONAL PLC | COM | G48833118 |  | 279011 | 2950 | SH |  | SOLE |  | 2950 | 0 | 0 |
| ALLEGION PLC | COM | G0176J109 |  | 272709 | 1877 | SH |  | SOLE |  | 1634 | 0 | 243 |
| CDW CORP | COM | 12514G108 |  | 270359 | 2234 | SH |  | SOLE |  | 2234 | 0 | 0 |
| DAVITA INC | COM | 23918K108 |  | 263886 | 1717 | SH |  | SOLE |  | 1717 | 0 | 0 |
| DICK'S SPORTING GOODS INC. | COM | 253393102 |  | 256786 | 1295 | SH |  | SOLE |  | 1295 | 0 | 0 |
| PENTAIR PLC | COM | G7S00T104 |  | 252706 | 2901 | SH |  | SOLE |  | 2901 | 0 | 0 |
| AUTODESK INC. | COM | 052769106 |  | 251609 | 1051 | SH |  | SOLE |  | 1051 | 0 | 0 |
| MAPLEBEAR INC | COM | 565394103 |  | 247086 | 6596 | SH |  | SOLE |  | 6596 | 0 | 0 |
| RENAISSANCERE HOLDINGS LTD. | COM | G7496G103 |  | 246404 | 829 | SH |  | SOLE |  | 829 | 0 | 0 |
| CF INDUSTRIES HOLDINGS INC. | COM | 125269100 |  | 242801 | 1870 | SH |  | SOLE |  | 1870 | 0 | 0 |
| WYNDHAM HOTELS  RESORTS INC | COM | 98311A105 |  | 238410 | 2935 | SH |  | SOLE |  | 2935 | 0 | 0 |
| OMNICOM GROUP INCORPORATED | COM | 681919106 |  | 230976 | 3067 | SH |  | SOLE |  | 3067 | 0 | 0 |
| BUILDERS FIRSTSOURCE INC. | COM | 12008R107 |  | 230936 | 2805 | SH |  | SOLE |  | 2805 | 0 | 0 |
| DOVER CORPORATION | COM | 260003108 |  | 220332 | 1057 | SH |  | SOLE |  | 1057 | 0 | 0 |
| ANTERO RESOURCES CORP | COM | 03674X106 |  | 213006 | 5019 | SH |  | SOLE |  | 5019 | 0 | 0 |
| MGM RESORTS INTERNATIONAL | COM | 552953101 |  | 212956 | 5754 | SH |  | SOLE |  | 5754 | 0 | 0 |
| GENUINE PARTS COMPANY | COM | 372460105 |  | 212452 | 2009 | SH |  | SOLE |  | 2009 | 0 | 0 |
| BALL CORPORATION | COM | 058498106 |  | 211496 | 3578 | SH |  | SOLE |  | 3578 | 0 | 0 |
| GARTNER INCORPORATED | COM | 366651107 |  | 210909 | 1332 | SH |  | SOLE |  | 1332 | 0 | 0 |
| SPROUTS FARMERS MARKET INC | COM | 85208M102 |  | 208868 | 2708 | SH |  | SOLE |  | 2708 | 0 | 0 |
| SYNCHRONY FINANCIAL | COM | 87165B103 |  | 208345 | 3063 | SH |  | SOLE |  | 3063 | 0 | 0 |
| AVIS BUDGET GROUP INC. | COM | 053774105 |  | 208274 | 1428 | SH |  | SOLE |  | 1428 | 0 | 0 |
| COGNIZANT TECHNOLOGY SOLUTIONS | COM | 192446102 |  | 204111 | 3327 | SH |  | SOLE |  | 3327 | 0 | 0 |

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