# EDGAR Filing Document

**Accession Number:** 0001759395
**File Stem:** 0001420506-26-000721
**Filing Date:** 2026-4
**Character Count:** 42547
**Document Hash:** 81df6a4ab42af7609c26f364db153ec0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001420506-26-000721.hdr.sgml**: 20260423

**ACCESSION NUMBER**: 0001420506-26-000721

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260423

**DATE AS OF CHANGE**: 20260423

**EFFECTIVENESS DATE**: 20260423

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MQS Management LLC
- **CENTRAL INDEX KEY:** 0001759395

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-21859
- **FILM NUMBER:** 26887025

**BUSINESS ADDRESS:**
- **STREET 1:** 41 MADISON AVENUE
- **STREET 2:** 34TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 212-685-3600

**MAIL ADDRESS:**
- **STREET 1:** 41 MADISON AVENUE
- **STREET 2:** 34TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

### 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:** MQS Management LLC<br>**Address:** 41 MADISON AVENUE<br>34TH FLOOR<br>NEW YORK, NY 10010

**Form 13F File Number:** 028-21859

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 Babcock<br>**Title:** President  Chief Compliance Officer<br>**Phone:** 212-685-3600

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

David Babcock President  Chief Compliance Officer  NEW YORK, NY  04-23-2026<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:** 366

**Form 13F Information Table Value Total:** $147965493

      (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 |
| 3M CO | COM | 88579Y101 | BBG000BP5522 | 316747 | 2181 | SH |  | SOLE |  | 2181 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 | BBG003P7K0B5 | 389960 | 1793 | SH |  | SOLE |  | 1793 | 0 | 0 |
| ABM INDS INC | COM | 000957100 | BBG000B9Z0B6 | 324454 | 8423 | SH |  | SOLE |  | 8423 | 0 | 0 |
| ACADIA RLTY TR | COM SH BEN INT | 004239109 | BBG000BJGG48 | 517598 | 27071 | SH |  | SOLE |  | 27071 | 0 | 0 |
| ACUITY INC | COM | 00508Y102 | BBG000BJ5KS5 | 344671 | 1230 | SH |  | SOLE |  | 1230 | 0 | 0 |
| ADAMAS TRUST INC. | COM | 649604840 | BBG000GZ8014 | 224929 | 30561 | SH |  | SOLE |  | 30561 | 0 | 0 |
| ADDUS HOMECARE CORP | COM | 006739106 | BBG000NJGX84 | 222700 | 2378 | SH |  | SOLE |  | 2378 | 0 | 0 |
| ADT INC DEL | COM | 00090Q103 | BBG00JLZ5SD6 | 261565 | 39812 | SH |  | SOLE |  | 39812 | 0 | 0 |
| AFFILIATED MANAGERS GROUP | COM | 008252108 | BBG000C06204 | 237409 | 858 | SH |  | SOLE |  | 858 | 0 | 0 |
| AFLAC INC | COM | 001055102 | BBG000BBBRC7 | 512236 | 4669 | SH |  | SOLE |  | 4669 | 0 | 0 |
| AGCO CORP | COM | 001084102 | BBG000DCD2J9 | 308794 | 2665 | SH |  | SOLE |  | 2665 | 0 | 0 |
| AGNC INVT CORP | COM | 00123Q104 | BBG000TJ8XZ7 | 143058 | 14263 | SH |  | SOLE |  | 14263 | 0 | 0 |
| ALLEGION PLC | ORD SHS | G0176J109 | BBG004T9FH88 | 474081 | 3263 | SH |  | SOLE |  | 3263 | 0 | 0 |
| ALLIANT ENERGY CORP | COM | 018802108 | BBG000DW4Q75 | 694493 | 9678 | SH |  | SOLE |  | 9678 | 0 | 0 |
| AMDOCS LTD | SHS | G02602103 | BBG000C3MXG5 | 564564 | 8651 | SH |  | SOLE |  | 8651 | 0 | 0 |
| AMEREN CORP | COM | 023608102 | BBG000B9XB97 | 810990 | 7378 | SH |  | SOLE |  | 7378 | 0 | 0 |
| AMERICAN AIRLINES GROUP INC | COM | 02376R102 | BBG005P7Q881 | 271056 | 25238 | SH |  | SOLE |  | 25238 | 0 | 0 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 | BBG000BB9KF2 | 408576 | 3117 | SH |  | SOLE |  | 3117 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 | BBG000BCR153 | 497580 | 1645 | SH |  | SOLE |  | 1645 | 0 | 0 |
| AMERICAN FINANCIAL GROUP INC | COM | 025932104 | BBG000DPKMB6 | 250822 | 1964 | SH |  | SOLE |  | 1964 | 0 | 0 |
| AMERICAN HOMES 4 RENT | CL A | 02665T306 | BBG004X82BC7 | 549186 | 19670 | SH |  | SOLE |  | 19670 | 0 | 0 |
| AMERICAN TOWER CORP | COM | 03027X100 | BBG000B9Y214 | 455439 | 2639 | SH |  | SOLE |  | 2639 | 0 | 0 |
| AMERIS BANCORP | COM | 03076K108 | BBG000CDY5M4 | 389638 | 4996 | SH |  | SOLE |  | 4996 | 0 | 0 |
| AMNEAL PHARMACEUTICALS INC | COM STK CL A | 03168L105 | BBG00462PGG0 | 325243 | 26166 | SH |  | SOLE |  | 26166 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 | BBG000BB6G37 | 547837 | 1722 | SH |  | SOLE |  | 1722 | 0 | 0 |
| ANHEUSER BUSCH INBEV SA NV | SPONSORED ADR | 03524A108 | BBG000RYCBX1 | 772296 | 11133 | SH |  | SOLE |  | 11133 | 0 | 0 |
| API GROUP CORP | COM STK | 00187Y100 | BBG00HXKRH13 | 434212 | 10716 | SH |  | SOLE |  | 10716 | 0 | 0 |
| APPFOLIO INC | COM CL A | 03783C100 | BBG008GC8CP6 | 217002 | 1375 | SH |  | SOLE |  | 1375 | 0 | 0 |
| APPLE INC | COM | 037833100 | BBG000B9XRY4 | 367234 | 1447 | SH |  | SOLE |  | 1447 | 0 | 0 |
| APPLIED INDL TECHNOLOGIES IN | COM | 03820C105 | BBG000BBHK72 | 516313 | 1946 | SH |  | SOLE |  | 1946 | 0 | 0 |
| ARCHER AVIATION INC | COM CL A | 03945R102 | BBG00YGCK400 | 58044 | 11227 | SH |  | SOLE |  | 11227 | 0 | 0 |
| ARCOSA INC | COM | 039653100 | BBG00JGMWFQ5 | 242318 | 2283 | SH |  | SOLE |  | 2283 | 0 | 0 |
| ARES CAPITAL CORP | COM | 04010L103 | BBG000PD6X77 | 915146 | 50785 | SH |  | SOLE |  | 50785 | 0 | 0 |
| ARHAUS INC | COM CL A | 04035M102 | BBG012TKHZ11 | 106880 | 15764 | SH |  | SOLE |  | 15764 | 0 | 0 |
| ARMSTRONG WORLD INDS INC NEW | COM | 04247X102 | BBG000DW4N45 | 242915 | 1474 | SH |  | SOLE |  | 1474 | 0 | 0 |
| ARROW ELECTRS INC | COM | 042735100 | BBG000BCD5L1 | 522299 | 3642 | SH |  | SOLE |  | 3642 | 0 | 0 |
| ARTISAN PARTNERS ASSET MGMT | CL A | 04316A108 | BBG001M6D022 | 275036 | 7558 | SH |  | SOLE |  | 7558 | 0 | 0 |
| ASBURY AUTOMOTIVE GROUP INC | COM | 043436104 | BBG000BKDXS5 | 287839 | 1473 | SH |  | SOLE |  | 1473 | 0 | 0 |
| ASML HLDG NV | N Y REGISTRY SHS | N07059210 | BBG000K6MRN4 | 277374 | 210 | SH |  | SOLE |  | 210 | 0 | 0 |
| ASSURANT INC | COM | 04621X108 | BBG000BZX2Z0 | 298835 | 1372 | SH |  | SOLE |  | 1372 | 0 | 0 |
| ATMUS FILTRATION TECHNOLOGIE | COM | 04956D107 | BBG01FJKMGP3 | 201647 | 3552 | SH |  | SOLE |  | 3552 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 | BBG000JG0547 | 1200591 | 5909 | SH |  | SOLE |  | 5909 | 0 | 0 |
| AUTONATION INC | COM | 05329W102 | BBG000BBXP55 | 422738 | 2165 | SH |  | SOLE |  | 2165 | 0 | 0 |
| AUTOZONE INC | COM | 053332102 | BBG000C7MR60 | 432356 | 128 | SH |  | SOLE |  | 128 | 0 | 0 |
| AVERY DENNISON CORP | COM | 053611109 | BBG000BCQ742 | 380587 | 2204 | SH |  | SOLE |  | 2204 | 0 | 0 |
| AVIENT CORPORATION | COM | 05368V106 | BBG000C8NKJ8 | 259182 | 7140 | SH |  | SOLE |  | 7140 | 0 | 0 |
| AXALTA COATING SYS LTD | COM | G0750C108 | BBG0070QYRW4 | 236558 | 8540 | SH |  | SOLE |  | 8540 | 0 | 0 |
| AXIS CAP HLDGS LTD | SHS | G0692U109 | BBG000FLFB23 | 309909 | 3056 | SH |  | SOLE |  | 3056 | 0 | 0 |
| AXOS FINANCIAL INC | COM | 05465C100 | BBG000QPHF03 | 258674 | 3040 | SH |  | SOLE |  | 3040 | 0 | 0 |
| BANC OF CALIFORNIA INC | COM | 05990K106 | BBG000F7VK71 | 181883 | 10346 | SH |  | SOLE |  | 10346 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 | BBG000BCTN44 | 414180 | 8496 | SH |  | SOLE |  | 8496 | 0 | 0 |
| BANK NOVA SCOTIA B C | COM | 064149107 | BBG000C2RWG4 | 734201 | 10593 | SH |  | SOLE |  | 10593 | 0 | 0 |
| BANNER CORP | COM NEW | 06652V208 | BBG000MVZH28 | 633196 | 10435 | SH |  | SOLE |  | 10435 | 0 | 0 |
| BARINGS BDC INC | COM | 06759L103 | BBG000F54HY2 | 388744 | 47235 | SH |  | SOLE |  | 47235 | 0 | 0 |
| BAUSCH HEALTH COS INC | COM | 071734107 | BBG000DLFNQ3 | 94457 | 17492 | SH |  | SOLE |  | 17492 | 0 | 0 |
| BELDEN INC | COM | 077454106 | BBG000Q4XQV4 | 298443 | 2599 | SH |  | SOLE |  | 2599 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | BBG000DWH8Q0 | 773429 | 1614 | SH |  | SOLE |  | 1614 | 0 | 0 |
| BHP BILLITON LIMITED | SPONSORED ADS | 088606108 | BBG000BD5SC8 | 1074443 | 14771 | SH |  | SOLE |  | 14771 | 0 | 0 |
| BLACKBERRY LTD | COM | 09228F103 | BBG000CR9355 | 154584 | 47711 | SH |  | SOLE |  | 47711 | 0 | 0 |
| BLACKROCK INC | COM | 09290D101 | BBG01PT1FFJ9 | 279858 | 291 | SH |  | SOLE |  | 291 | 0 | 0 |
| BRADY CORP | CL A | 104674106 | BBG000BDNXL7 | 244532 | 3010 | SH |  | SOLE |  | 3010 | 0 | 0 |
| BRITISH AMERN TOB PLC | SPONSORED ADR | 110448107 | BBG000BWQ0W2 | 292408 | 5001 | SH |  | SOLE |  | 5001 | 0 | 0 |
| BRIXMOR PPTY GROUP INC | COM | 11120U105 | BBG004V7PD50 | 723226 | 25112 | SH |  | SOLE |  | 25112 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 | BBG00KHY5S69 | 371722 | 1201 | SH |  | SOLE |  | 1201 | 0 | 0 |
| BRUNSWICK CORP | COM | 117043109 | BBG000BCWW77 | 248475 | 3415 | SH |  | SOLE |  | 3415 | 0 | 0 |
| BUILDERS FIRSTSOURCE INC | COM | 12008R107 | BBG000BKD5G9 | 314007 | 3814 | SH |  | SOLE |  | 3814 | 0 | 0 |
| BUNGE GLOBAL SA | COM SHS | H11356104 | BBG01JZ9SZ92 | 682301 | 5364 | SH |  | SOLE |  | 5364 | 0 | 0 |
| BUSINESS FIRST BANCSHARES IN | COM | 12326C105 | BBG000TGZHS6 | 578575 | 21397 | SH |  | SOLE |  | 21397 | 0 | 0 |
| BXP INC | COM | 101121101 | BBG000BS5F97 | 307144 | 5918 | SH |  | SOLE |  | 5918 | 0 | 0 |
| BYLINE BANCORP INC | COM | 124411109 | BBG00GZYYYR0 | 233365 | 7392 | SH |  | SOLE |  | 7392 | 0 | 0 |
| CABOT CORP | COM | 127055101 | BBG000BF3ZG5 | 350342 | 4652 | SH |  | SOLE |  | 4652 | 0 | 0 |
| CACTUS INC | CL A | 127203107 | BBG00JRH1PD0 | 212549 | 4487 | SH |  | SOLE |  | 4487 | 0 | 0 |
| CAL MAINE FOODS INC | COM NEW | 128030202 | BBG000CDMJW6 | 222886 | 2816 | SH |  | SOLE |  | 2816 | 0 | 0 |
| CALUMET INC | COM | 131428104 | BBG01NQ82GB2 | 345753 | 9631 | SH |  | SOLE |  | 9631 | 0 | 0 |
| CAMDEN PPTY TR | SH BEN INT | 133131102 | BBG000BB0XQ1 | 603636 | 6181 | SH |  | SOLE |  | 6181 | 0 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 | BBG000BGKVR1 | 281125 | 1541 | SH |  | SOLE |  | 1541 | 0 | 0 |
| CARETRUST REIT INC | COM | 14174T107 | BBG006H11H60 | 548797 | 14974 | SH |  | SOLE |  | 14974 | 0 | 0 |
| CARLYLE SECURED LENDING INC | COM | 872280102 | BBG00GQVWWP4 | 243776 | 22283 | SH |  | SOLE |  | 22283 | 0 | 0 |
| CASELLA WASTE SYS INC | CL A | 147448104 | BBG000BT0J38 | 262298 | 3306 | SH |  | SOLE |  | 3306 | 0 | 0 |
| CASEYS GEN STORES INC | COM | 147528103 | BBG000BF0672 | 355924 | 489 | SH |  | SOLE |  | 489 | 0 | 0 |
| CBRE GROUP INC | CL A | 12504L109 | BBG000C043Q6 | 347455 | 2565 | SH |  | SOLE |  | 2565 | 0 | 0 |
| CCC INTELLIGENT SOLUTIONS HL | COM | 12510Q100 | BBG00WNSJM49 | 90222 | 15037 | SH |  | SOLE |  | 15037 | 0 | 0 |
| CDW CORP | COM | 12514G108 | BBG001P63B80 | 249906 | 2065 | SH |  | SOLE |  | 2065 | 0 | 0 |
| CENCORA INC | COM | 03073E105 | BBG000MDCSN6 | 772470 | 2459 | SH |  | SOLE |  | 2459 | 0 | 0 |
| CENOVUS ENERGY INC | COM | 15135U109 | BBG000PSJR64 | 962349 | 36274 | SH |  | SOLE |  | 36274 | 0 | 0 |
| CENTERPOINT ENERGY INC | COM | 15189T107 | BBG000FDC0R1 | 222058 | 5145 | SH |  | SOLE |  | 5145 | 0 | 0 |
| CGI INC | CL A SUB VTG | 12532H104 | BBG000FWZPB6 | 319155 | 4366 | SH |  | SOLE |  | 4366 | 0 | 0 |
| CHECK POINT SOFTWARE TECH LT | ORD | M22465104 | BBG000K82ZT8 | 364982 | 2555 | SH |  | SOLE |  | 2555 | 0 | 0 |
| CHESAPEAKE UTILS CORP | COM | 165303108 | BBG000G4GMG0 | 354215 | 2803 | SH |  | SOLE |  | 2803 | 0 | 0 |
| CHEVRON CORPORATION | COM | 166764100 | BBG000K4NHJ5 | 1045052 | 5051 | SH |  | SOLE |  | 5051 | 0 | 0 |
| CHORD ENERGY CORPORATION | COM NEW | 674215207 | BBG00Y7BLHL9 | 612085 | 4305 | SH |  | SOLE |  | 4305 | 0 | 0 |
| CLOROX CO DEL | COM | 189054109 | BBG000BFS949 | 252546 | 2437 | SH |  | SOLE |  | 2437 | 0 | 0 |
| CME GROUP INC | COM | 12572Q105 | BBG000BHLYP4 | 245140 | 830 | SH |  | SOLE |  | 830 | 0 | 0 |
| COCA-COLA EUROPACIFIC PARTNE | SHS | G25839104 | BBG00B6BFWH9 | 233838 | 2579 | SH |  | SOLE |  | 2579 | 0 | 0 |
| COGNIZANT TECHNOLOGY SOLUTIO | CL A | 192446102 | BBG000BBDV81 | 614727 | 10020 | SH |  | SOLE |  | 10020 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 | BBG000BFR0Y6 | 275463 | 3232 | SH |  | SOLE |  | 3232 | 0 | 0 |
| COMMERCE BANCSHARES INC | COM | 200525103 | BBG000BF3G77 | 492689 | 10014 | SH |  | SOLE |  | 10014 | 0 | 0 |
| COMMERCIAL METALS CO | COM | 201723103 | BBG000BFSPW2 | 446166 | 7263 | SH |  | SOLE |  | 7263 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 | BBG000BQQJR0 | 1082004 | 8197 | SH |  | SOLE |  | 8197 | 0 | 0 |
| COSTCO WHOLESALE CORPORATION | COM | 22160K105 | BBG000F6H8W8 | 988459 | 992 | SH |  | SOLE |  | 992 | 0 | 0 |
| CUBESMART | COM | 229663109 | BBG000HF2BJ0 | 430381 | 11743 | SH |  | SOLE |  | 11743 | 0 | 0 |
| CULLEN FROST BANKERS INC | COM | 229899109 | BBG000C2PN67 | 313365 | 2286 | SH |  | SOLE |  | 2286 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 | BBG000BGRZP7 | 396590 | 5522 | SH |  | SOLE |  | 5522 | 0 | 0 |
| DANAHER CORP DEL | COM | 235851102 | BBG000BH3LR0 | 779066 | 4109 | SH |  | SOLE |  | 4109 | 0 | 0 |
| DARDEN RESTAURANTS INC | COM | 237194105 | BBG000BBP059 | 349343 | 1782 | SH |  | SOLE |  | 1782 | 0 | 0 |
| DEERE  CO | COM | 244199105 | BBG000BH1QM6 | 424165 | 753 | SH |  | SOLE |  | 753 | 0 | 0 |
| DEUTSCHE BK AG | NAMEN AKT | D18190898 | BBG000BR1YD7 | 233803 | 7851 | SH |  | SOLE |  | 7851 | 0 | 0 |
| DIAGEO PLC | SPON ADR NEW | 25243Q205 | BBG000BWZSZ8 | 355126 | 4770 | SH |  | SOLE |  | 4770 | 0 | 0 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 | BBG002PHSYX9 | 334661 | 1692 | SH |  | SOLE |  | 1692 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 | BBG000BH4SB1 | 819905 | 8507 | SH |  | SOLE |  | 8507 | 0 | 0 |
| DOLBY LABORATORIES INC | COM CL A | 25659T107 | BBG000DGLWP8 | 261141 | 4348 | SH |  | SOLE |  | 4348 | 0 | 0 |
| DOLLAR GEN CORP | COM | 256677105 | BBG000NV1PS8 | 313566 | 2641 | SH |  | SOLE |  | 2641 | 0 | 0 |
| DOMINION ENERGY INC | COM | 25746U109 | BBG000BGVYS2 | 282517 | 4570 | SH |  | SOLE |  | 4570 | 0 | 0 |
| DOMINOS PIZZA INC | COM | 25754A201 | BBG000P458P3 | 243618 | 679 | SH |  | SOLE |  | 679 | 0 | 0 |
| DONALDSON INC | COM | 257651109 | BBG000BGZQF9 | 426557 | 5026 | SH |  | SOLE |  | 5026 | 0 | 0 |
| DOUGLAS DYNAMICS INC | COM | 25960R105 | BBG000Q90GN0 | 305994 | 7270 | SH |  | SOLE |  | 7270 | 0 | 0 |
| DOW HLDGS INC | COM | 260557103 | BBG00LXXHZT7 | 330868 | 7944 | SH |  | SOLE |  | 7944 | 0 | 0 |
| DR REDDYS LABS LTD | ADR | 256135203 | BBG000NJ98V1 | 185479 | 13392 | SH |  | SOLE |  | 13392 | 0 | 0 |
| DRAFTKINGS INC NEW | COM CL A | 26142V105 | BBG0134WCM78 | 303891 | 14056 | SH |  | SOLE |  | 14056 | 0 | 0 |
| DT MIDSTREAM INC | COMMON STOCK | 23345M107 | BBG011BXRSR1 | 580832 | 4313 | SH |  | SOLE |  | 4313 | 0 | 0 |
| DTE ENERGY CO | COM | 233331107 | BBG000BB2CZ5 | 667787 | 4567 | SH |  | SOLE |  | 4567 | 0 | 0 |
| DYNATRACE INC | COM NEW | 268150109 | BBG00PNN7C86 | 383778 | 10378 | SH |  | SOLE |  | 10378 | 0 | 0 |
| EAST WEST BANCORP INC | COM | 27579R104 | BBG000CR20B1 | 200068 | 1874 | SH |  | SOLE |  | 1874 | 0 | 0 |
| EASTERLY GOVT PPTYS INC | COM SHS | 27616P301 | BBG007SV9201 | 360860 | 16839 | SH |  | SOLE |  | 16839 | 0 | 0 |
| EASTMAN CHEM CO | COM | 277432100 | BBG000BLW6G4 | 202172 | 2649 | SH |  | SOLE |  | 2649 | 0 | 0 |
| ECOLAB INC | COM | 278865100 | BBG000BHL0C2 | 641374 | 2411 | SH |  | SOLE |  | 2411 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 | BBG000BNBG44 | 275931 | 300 | SH |  | SOLE |  | 300 | 0 | 0 |
| EMCOR GROUP INC | COM | 29084Q100 | BBG000BBRRG6 | 247334 | 335 | SH |  | SOLE |  | 335 | 0 | 0 |
| EPR PPTYS | COM SH BEN INT | 26884U109 | BBG000BT0137 | 517935 | 10367 | SH |  | SOLE |  | 10367 | 0 | 0 |
| EQUITY BANCSHARES INC | COM CL A | 29460X109 | BBG00B641W99 | 286400 | 6449 | SH |  | SOLE |  | 6449 | 0 | 0 |
| EQUITY RESIDENTIAL | SH BEN INT | 29476L107 | BBG000BG8P98 | 760373 | 12855 | SH |  | SOLE |  | 12855 | 0 | 0 |
| ESSENT GROUP LTD | COM | G3198U102 | BBG0058YL7L3 | 568621 | 9730 | SH |  | SOLE |  | 9730 | 0 | 0 |
| ETHAN ALLEN INTERIORS INC | COM | 297602104 | BBG000BBVHG3 | 250870 | 11270 | SH |  | SOLE |  | 11270 | 0 | 0 |
| EVERSOURCE ENERGY | COM | 30040W108 | BBG000BQ8910 | 242826 | 3505 | SH |  | SOLE |  | 3505 | 0 | 0 |
| EXPEDITORS INTL WASH INC | COM | 302130109 | BBG000BJ5J62 | 213842 | 1493 | SH |  | SOLE |  | 1493 | 0 | 0 |
| EXPONENT INC | COM | 30214U102 | BBG000F31Z34 | 214672 | 3290 | SH |  | SOLE |  | 3290 | 0 | 0 |
| EXTRA SPACE STORAGE INC | COM | 30225T102 | BBG000PV29R2 | 248098 | 1892 | SH |  | SOLE |  | 1892 | 0 | 0 |
| FB FINL CORP | COM | 30257X104 | BBG00DM451H2 | 547188 | 10535 | SH |  | SOLE |  | 10535 | 0 | 0 |
| FEDERAL RLTY INVT TR NEW | SH BEN INT NEW | 313745101 | BBG000BJVPQ7 | 609008 | 5734 | SH |  | SOLE |  | 5734 | 0 | 0 |
| FEDEX CORP | COM | 31428X106 | BBG000BJF3F6 | 534982 | 1502 | SH |  | SOLE |  | 1502 | 0 | 0 |
| FERGUSON ENTERPRISES INC | COMMON STOCK NEW | 31488V107 | BBG01NMT2H37 | 241191 | 1034 | SH |  | SOLE |  | 1034 | 0 | 0 |
| FIDUS INVT CORP | COM | 316500107 | BBG001K9JH07 | 603202 | 34627 | SH |  | SOLE |  | 34627 | 0 | 0 |
| FIRST COMWLTH FINL CORP PA | COM | 319829107 | BBG000CND9X5 | 604189 | 34368 | SH |  | SOLE |  | 34368 | 0 | 0 |
| FLOWERS FOODS INC | COM | 343498101 | BBG000BB4FW9 | 186635 | 22900 | SH |  | SOLE |  | 22900 | 0 | 0 |
| FORD MTR CO | COM | 345370860 | BBG000BQPFG1 | 358859 | 31097 | SH |  | SOLE |  | 31097 | 0 | 0 |
| FRONTLINE PLC | COM | M46528101 | BBG000BTQR05 | 443349 | 12718 | SH |  | SOLE |  | 12718 | 0 | 0 |
| GAMING  LEISURE P | COM | 36467J108 | BBG003MSMCS6 | 232011 | 5229 | SH |  | SOLE |  | 5229 | 0 | 0 |
| GATX CORP | COM | 361448103 | BBG000BKGZ70 | 318601 | 1866 | SH |  | SOLE |  | 1866 | 0 | 0 |
| GEN DIGITAL INC | COM | 668771108 | BBG000BH2JM1 | 312239 | 16582 | SH |  | SOLE |  | 16582 | 0 | 0 |
| GENERAL DYNAMICS CORP | COM | 369550108 | BBG000BK69Z8 | 421474 | 1228 | SH |  | SOLE |  | 1228 | 0 | 0 |
| GFL ENVIRONMENTAL INC | SUB VTG SHS | 36168Q104 | BBG00PQS02V5 | 326042 | 7815 | SH |  | SOLE |  | 7815 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 | BBG000C6CH10 | 312170 | 369 | SH |  | SOLE |  | 369 | 0 | 0 |
| GRANITE RIDGE RESOURCES INC | COM | 387432107 | BBG017TFM4Q7 | 311098 | 52998 | SH |  | SOLE |  | 52998 | 0 | 0 |
| GREEN BRICK PARTNERS INC | COM | 392709101 | BBG000QGYHM6 | 589653 | 9149 | SH |  | SOLE |  | 9149 | 0 | 0 |
| GROUP 1 AUTOMOTIVE INC | COM | 398905109 | BBG000BB8BY2 | 220200 | 666 | SH |  | SOLE |  | 666 | 0 | 0 |
| HANCOCK WHITNEY CORPORATION | COM | 410120109 | BBG000CBC7D8 | 217351 | 3418 | SH |  | SOLE |  | 3418 | 0 | 0 |
| HARMONIC INC | COM | 413160102 | BBG000BTXZ45 | 228936 | 25494 | SH |  | SOLE |  | 25494 | 0 | 0 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 | BBG000G0ZB62 | 692242 | 5119 | SH |  | SOLE |  | 5119 | 0 | 0 |
| HCA HEALTHCARE INC | COM | 40412C101 | BBG000QW7X64 | 724057 | 1530 | SH |  | SOLE |  | 1530 | 0 | 0 |
| HEICO CORP NEW | COM | 422806109 | BBG000BL18H3 | 244038 | 890 | SH |  | SOLE |  | 890 | 0 | 0 |
| HELMERICH  PAYNE INC | COM | 423452101 | BBG000BLCRT6 | 380873 | 10571 | SH |  | SOLE |  | 10571 | 0 | 0 |
| HENRY JACK  ASSOC INC | COM | 426281101 | BBG000BMH2Q7 | 396364 | 2508 | SH |  | SOLE |  | 2508 | 0 | 0 |
| HERCULES CAPITAL INC | COM | 427096508 | BBG000C2RB52 | 480320 | 32520 | SH |  | SOLE |  | 32520 | 0 | 0 |
| HILLTOP HLDGS INC | COM | 432748101 | BBG000GM7657 | 589346 | 16453 | SH |  | SOLE |  | 16453 | 0 | 0 |
| HILTON WORLDWIDE HLDGS INC | COM | 43300A203 | BBG0058KMJP2 | 277017 | 911 | SH |  | SOLE |  | 911 | 0 | 0 |
| HOME BANCSHARES INC | COM | 436893200 | BBG000QJXHR6 | 796778 | 29587 | SH |  | SOLE |  | 29587 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 | BBG000BKZDM1 | 782758 | 2380 | SH |  | SOLE |  | 2380 | 0 | 0 |
| HORACE MANN EDUCATORS CORP N | COM | 440327104 | BBG000BL7X00 | 228850 | 5362 | SH |  | SOLE |  | 5362 | 0 | 0 |
| HORMEL FOODS CORP | COM | 440452100 | BBG000BLFBK7 | 283782 | 12529 | SH |  | SOLE |  | 12529 | 0 | 0 |
| HOULIHAN LOKEY INC | CL A | 441593100 | BBG009L72FL2 | 200063 | 1393 | SH |  | SOLE |  | 1393 | 0 | 0 |
| HUNTINGTON BANCSHARES INC | COM | 446150104 | BBG000BKWSR6 | 201713 | 12889 | SH |  | SOLE |  | 12889 | 0 | 0 |
| IDEX CORP | COM | 45167R104 | BBG000C1HPK7 | 398434 | 2102 | SH |  | SOLE |  | 2102 | 0 | 0 |
| ILLINOIS TOOL WKS INC | COM | 452308109 | BBG000BMBNV1 | 657753 | 2527 | SH |  | SOLE |  | 2527 | 0 | 0 |
| IMPERIAL OIL LTD | COM NEW | 453038408 | BBG000C32Y11 | 874663 | 6686 | SH |  | SOLE |  | 6686 | 0 | 0 |
| INCYTE CORP | COM | 45337C102 | BBG000BNPSQ9 | 457141 | 4857 | SH |  | SOLE |  | 4857 | 0 | 0 |
| INDEPENDENT BK CORP MASS | COM | 453836108 | BBG000BM0597 | 470288 | 6253 | SH |  | SOLE |  | 6253 | 0 | 0 |
| INDEPENDENT BK CORP MICH | COM NEW | 453838609 | BBG000BLN9N0 | 363003 | 10901 | SH |  | SOLE |  | 10901 | 0 | 0 |
| INGREDION INC | COM | 457187102 | BBG000BXQ1T2 | 643401 | 5711 | SH |  | SOLE |  | 5711 | 0 | 0 |
| INNOSPEC INC | COM | 45768S105 | BBG000BMFNP4 | 267399 | 3662 | SH |  | SOLE |  | 3662 | 0 | 0 |
| INNOVEX INTERNATIONAL INC | COM | 457651107 | BBG000BVDFM6 | 277583 | 11381 | SH |  | SOLE |  | 11381 | 0 | 0 |
| INTERPARFUMS INC | COM | 458334109 | BBG000GCSWR5 | 322209 | 3547 | SH |  | SOLE |  | 3547 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 | BBG000BJPDZ1 | 512621 | 1112 | SH |  | SOLE |  | 1112 | 0 | 0 |
| IRONWOOD PHARMACEUTICALS INC | COM CL A | 46333X108 | BBG000GBZ3J2 | 40193 | 11451 | SH |  | SOLE |  | 11451 | 0 | 0 |
| JABIL INC | COM | 466313103 | BBG000BJNJ80 | 206395 | 777 | SH |  | SOLE |  | 777 | 0 | 0 |
| KAYNE ANDERSON BDC INC | COM SHS | 48662X105 | BBG01MVBR9V8 | 204373 | 14896 | SH |  | SOLE |  | 14896 | 0 | 0 |
| LABCORP HOLDINGS INC | COM SHS | 504922105 | BBG01MNCMNF7 | 296426 | 1111 | SH |  | SOLE |  | 1111 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 | BBG000BNFLM9 | 221138 | 1035 | SH |  | SOLE |  | 1035 | 0 | 0 |
| LAMAR ADVERTISING CO | CL A | 512816109 | BBG000FGMKY1 | 456863 | 3607 | SH |  | SOLE |  | 3607 | 0 | 0 |
| LCI INDS | COM | 50189K103 | BBG000DNLQR4 | 322577 | 2623 | SH |  | SOLE |  | 2623 | 0 | 0 |
| LEIDOS HOLDINGS INC | COM | 525327102 | BBG000C23RG1 | 676201 | 4348 | SH |  | SOLE |  | 4348 | 0 | 0 |
| LENNAR CORP | CL A | 526057104 | BBG000BN5KN1 | 468675 | 5397 | SH |  | SOLE |  | 5397 | 0 | 0 |
| LINDSAY CORP | COM | 535555106 | BBG000FJS448 | 379119 | 3184 | SH |  | SOLE |  | 3184 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 | BBG000C1BXJ8 | 511314 | 846 | SH |  | SOLE |  | 846 | 0 | 0 |
| LSB INDS INC | COM | 502160104 | BBG000C1C697 | 172155 | 11554 | SH |  | SOLE |  | 11554 | 0 | 0 |
| MAGNA INTL INC | COM | 559222401 | BBG000BNLR30 | 330507 | 5922 | SH |  | SOLE |  | 5922 | 0 | 0 |
| MANULIFE FINL CORP | COM | 56501R106 | BBG000C0Q319 | 300765 | 8733 | SH |  | SOLE |  | 8733 | 0 | 0 |
| MARATHON PETE CORP | COM | 56585A102 | BBG001QSXK51 | 1172552 | 4802 | SH |  | SOLE |  | 4802 | 0 | 0 |
| MARKEL GROUP INC | COM | 570535104 | BBG000FC74N5 | 641213 | 335 | SH |  | SOLE |  | 335 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 | BBG000BGD7W6 | 292728 | 895 | SH |  | SOLE |  | 895 | 0 | 0 |
| MARTIN MARIETTA MATLS INC | COM | 573284106 | BBG000BGYPN3 | 511563 | 869 | SH |  | SOLE |  | 869 | 0 | 0 |
| MASCO CORP | COM | 574599106 | BBG000BNNM75 | 643786 | 10664 | SH |  | SOLE |  | 10664 | 0 | 0 |
| MATADOR RES CO | COM | 576485205 | BBG001ZSF803 | 721642 | 11422 | SH |  | SOLE |  | 11422 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 | BBG000BNT1L9 | 545126 | 1754 | SH |  | SOLE |  | 1754 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 | BBG000BNWJ36 | 843624 | 9736 | SH |  | SOLE |  | 9736 | 0 | 0 |
| MELCO RESORTS AND ENTMNT LTD | ADR | 585464100 | BBG000BHP8J4 | 104705 | 18434 | SH |  | SOLE |  | 18434 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 | BBG000MM2P62 | 204250 | 357 | SH |  | SOLE |  | 357 | 0 | 0 |
| METLIFE INC | COM | 59156R108 | BBG000BB6MF1 | 295892 | 4184 | SH |  | SOLE |  | 4184 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 | BBG000BPH459 | 510094 | 1378 | SH |  | SOLE |  | 1378 | 0 | 0 |
| MID-AMER APT CMNTYS INC | COM | 59522J103 | BBG000BLMZS8 | 279533 | 2289 | SH |  | SOLE |  | 2289 | 0 | 0 |
| MOHAWK INDS INC | COM | 608190104 | BBG000FLZR62 | 231873 | 2355 | SH |  | SOLE |  | 2355 | 0 | 0 |
| MONSTER BEVERAGE CORP NEW | COM | 61174X109 | BBG008NVB1C0 | 770974 | 10640 | SH |  | SOLE |  | 10640 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 | BBG000BLZT71 | 297707 | 1809 | SH |  | SOLE |  | 1809 | 0 | 0 |
| MOVADO GROUP INC | COM | 624580106 | BBG000BL34H0 | 242588 | 9934 | SH |  | SOLE |  | 9934 | 0 | 0 |
| MSA SAFETY INC | COM | 553498106 | BBG000BPDYJ2 | 212315 | 1295 | SH |  | SOLE |  | 1295 | 0 | 0 |
| MURPHY OIL CORP | COM | 626717102 | BBG000BPMLC7 | 492938 | 11950 | SH |  | SOLE |  | 11950 | 0 | 0 |
| NAVIGATOR HLDGS LTD | SHS | Y62132108 | BBG000R9BMT8 | 411671 | 21297 | SH |  | SOLE |  | 21297 | 0 | 0 |
| NEOGENOMICS INC | COM NEW | 64049M209 | BBG000BKH263 | 75350 | 10155 | SH |  | SOLE |  | 10155 | 0 | 0 |
| NETSCOUT SYS INC | COM | 64115T104 | BBG000C136Z8 | 215441 | 6777 | SH |  | SOLE |  | 6777 | 0 | 0 |
| NEUROCRINE BIOSCIENCES INC | COM | 64125C109 | BBG000GJS7C1 | 325530 | 2471 | SH |  | SOLE |  | 2471 | 0 | 0 |
| NEW MTN FIN CORP | COM | 647551100 | BBG000BG22J4 | 224233 | 28896 | SH |  | SOLE |  | 28896 | 0 | 0 |
| NIKE INC | CL B | 654106103 | BBG000C5HTN7 | 441575 | 8360 | SH |  | SOLE |  | 8360 | 0 | 0 |
| NISOURCE INC | COM | 65473P105 | BBG000BPZDS4 | 779129 | 16698 | SH |  | SOLE |  | 16698 | 0 | 0 |
| NNN REIT INC | COM | 637417106 | BBG000CLQ3T3 | 355826 | 8466 | SH |  | SOLE |  | 8466 | 0 | 0 |
| NOMURA HLDGS INC | SPONSORED ADR | 65535H208 | BBG000BZPZB2 | 96826 | 12272 | SH |  | SOLE |  | 12272 | 0 | 0 |
| NORDSON CORP | COM | 655663102 | BBG000BPWGR1 | 402815 | 1514 | SH |  | SOLE |  | 1514 | 0 | 0 |
| NORTHERN TR CORP | COM | 665859104 | BBG000BQ74K1 | 449974 | 3224 | SH |  | SOLE |  | 3224 | 0 | 0 |
| NOV INC | COM | 62955J103 | BBG000BJXC48 | 606717 | 32255 | SH |  | SOLE |  | 32255 | 0 | 0 |
| NPK INTERNATIONAL INC | COM SHS | 651718504 | BBG000C2HYW3 | 201962 | 13938 | SH |  | SOLE |  | 13938 | 0 | 0 |
| NUCOR CORP | COM | 670346105 | BBG000BQ8MY5 | 548391 | 3243 | SH |  | SOLE |  | 3243 | 0 | 0 |
| NUTRIEN LTD | COM | 67077M108 | BBG00JM9XLR2 | 902049 | 11954 | SH |  | SOLE |  | 11954 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 | BBG000BBJQV0 | 829795 | 4758 | SH |  | SOLE |  | 4758 | 0 | 0 |
| NVR INC | COM | 62944T105 | BBG000BQC1R4 | 441519 | 67 | SH |  | SOLE |  | 67 | 0 | 0 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 | BBG000BND699 | 593139 | 3013 | SH |  | SOLE |  | 3013 | 0 | 0 |
| OAKTREE SPECIALTY LENDING | COM | 67401P405 | BBG000TKZRB3 | 181659 | 16076 | SH |  | SOLE |  | 16076 | 0 | 0 |
| OCEANFIRST FINL CORP | COM | 675234108 | BBG000GYLFT9 | 278664 | 15447 | SH |  | SOLE |  | 15447 | 0 | 0 |
| OGE ENERGY CORP | COM | 670837103 | BBG000BQGP79 | 355240 | 7407 | SH |  | SOLE |  | 7407 | 0 | 0 |
| OLD NATL BANCORP IND | COM | 680033107 | BBG000KFW1C2 | 490885 | 22212 | SH |  | SOLE |  | 22212 | 0 | 0 |
| OLLIES BARGAIN OUTLET HLDGS | COM | 681116109 | BBG0098VVDT9 | 231941 | 2520 | SH |  | SOLE |  | 2520 | 0 | 0 |
| OMEGA HEALTHCARE INVS INC | COM | 681936100 | BBG000BGBW71 | 211125 | 4818 | SH |  | SOLE |  | 4818 | 0 | 0 |
| ONE GAS INC | COM | 68235P108 | BBG005TJ4R74 | 675259 | 7840 | SH |  | SOLE |  | 7840 | 0 | 0 |
| ONEMAIN HLDGS INC | COM | 68268W103 | BBG005497H63 | 288953 | 5402 | SH |  | SOLE |  | 5402 | 0 | 0 |
| OPENLANE INC | COM | 48238T109 | BBG000VZHMK8 | 354464 | 12160 | SH |  | SOLE |  | 12160 | 0 | 0 |
| OTIS WORLDWIDE CORP | COM | 68902V107 | BBG00RP60KZ6 | 390487 | 5066 | SH |  | SOLE |  | 5066 | 0 | 0 |
| OUTFRONT MEDIA INC | COM NEW | 69007J304 | BBG004S6B059 | 304379 | 11486 | SH |  | SOLE |  | 11486 | 0 | 0 |
| PACCAR INC | COM | 693718108 | BBG000BQVTF5 | 309078 | 2676 | SH |  | SOLE |  | 2676 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 | BBG000N7QR55 | 207864 | 1421 | SH |  | SOLE |  | 1421 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 | BBG0014GJCT9 | 361682 | 2256 | SH |  | SOLE |  | 2256 | 0 | 0 |
| PAN AMERN SILVER CORP | COM | 697900108 | BBG000C0RJP7 | 337231 | 6173 | SH |  | SOLE |  | 6173 | 0 | 0 |
| PARKER-HANNIFIN CORP | COM | 701094104 | BBG000BR3N30 | 584592 | 653 | SH |  | SOLE |  | 653 | 0 | 0 |
| PATRIA INVESTMENTS LIMITED | COM CL A | G69451105 | BBG00YQ7XJT2 | 210370 | 16696 | SH |  | SOLE |  | 16696 | 0 | 0 |
| PAYCOM SOFTWARE INC | COM | 70432V102 | BBG0064N1072 | 210264 | 1730 | SH |  | SOLE |  | 1730 | 0 | 0 |
| PELOTON INTERACTIVE INC | CL A COM | 70614W100 | BBG00JG0FFZ2 | 54976 | 12815 | SH |  | SOLE |  | 12815 | 0 | 0 |
| PENSKE AUTOMOTIVE GRP INC | COM | 70959W103 | BBG000H6K4T5 | 473829 | 3169 | SH |  | SOLE |  | 3169 | 0 | 0 |
| PEPSICO INC | COM | 713448108 | BBG000DH7JK6 | 257471 | 1658 | SH |  | SOLE |  | 1658 | 0 | 0 |
| PERFORMANCE FOOD GROUP CO | COM | 71377A103 | BBG009XW2WH2 | 330476 | 3858 | SH |  | SOLE |  | 3858 | 0 | 0 |
| PERMIAN RESOURCES CORP | CLASS A COM | 71424F105 | BBG00CNYBQC0 | 491341 | 23046 | SH |  | SOLE |  | 23046 | 0 | 0 |
| PETROLEO BRASILEIRO S A | SPONSORED ADR | 71654V408 | BBG000BS6HN6 | 504308 | 24304 | SH |  | SOLE |  | 24304 | 0 | 0 |
| PG CORP | COM | 69331C108 | BBG000BQWSK0 | 203724 | 11595 | SH |  | SOLE |  | 11595 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 | BBG000J2XPB0 | 202707 | 1226 | SH |  | SOLE |  | 1226 | 0 | 0 |
| PHINIA INC | COMMON STOCK | 71880K101 | BBG01H0F3HP9 | 214696 | 3137 | SH |  | SOLE |  | 3137 | 0 | 0 |
| PILGRIMS PRIDE CORP | COM | 72147K108 | BBG000BFLXV3 | 312237 | 8269 | SH |  | SOLE |  | 8269 | 0 | 0 |
| PINNACLE WEST CAP CORP | COM | 723484101 | BBG000BRDVJ4 | 325523 | 3231 | SH |  | SOLE |  | 3231 | 0 | 0 |
| PNC FINL SVCS GROUP INC | COM | 693475105 | BBG000BRD2F2 | 890417 | 4279 | SH |  | SOLE |  | 4279 | 0 | 0 |
| PORTLAND GEN ELEC CO | COM NEW | 736508847 | BBG000BCRRB9 | 357411 | 6773 | SH |  | SOLE |  | 6773 | 0 | 0 |
| PRECISION DRILLING CORP | COM NEW | 74022D407 | BBG000BBK4W6 | 691358 | 7026 | SH |  | SOLE |  | 7026 | 0 | 0 |
| PROCTER  GAMBLE CO | COM | 742718109 | BBG000BR2WS4 | 881228 | 6101 | SH |  | SOLE |  | 6101 | 0 | 0 |
| PROG HOLDINGS INC | COM NPV | 74319R101 | BBG00VSHBX62 | 226708 | 7902 | SH |  | SOLE |  | 7902 | 0 | 0 |
| PUBLIC SVC ENTERPRISE GROUP | COM | 744573106 | BBG000BQZP41 | 703860 | 8695 | SH |  | SOLE |  | 8695 | 0 | 0 |
| QCR HLDGS INC | COM | 74727A104 | BBG000BYZSM8 | 252505 | 2955 | SH |  | SOLE |  | 2955 | 0 | 0 |
| QORVO INC | COM | 74736K101 | BBG007TJF1N7 | 247448 | 3197 | SH |  | SOLE |  | 3197 | 0 | 0 |
| QUAKER HOUGHTON | COM | 747316107 | BBG000DZT6B0 | 245851 | 1979 | SH |  | SOLE |  | 1979 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 | BBG000CGC1X8 | 320791 | 2491 | SH |  | SOLE |  | 2491 | 0 | 0 |
| RANPAK HOLDINGS CORP | COM CL A | 75321W103 | BBG00K5TSBM7 | 46813 | 13113 | SH |  | SOLE |  | 13113 | 0 | 0 |
| RAYMOND JAMES FINL INC | COM | 754730109 | BBG000BS74T8 | 271047 | 1872 | SH |  | SOLE |  | 1872 | 0 | 0 |
| REALTY INCOME CORP | COM | 756109104 | BBG000DHPPZ6 | 701245 | 11462 | SH |  | SOLE |  | 11462 | 0 | 0 |
| RECURSION PHARMACEUTICALS IN | CL A | 75629V104 | BBG00PQ4XJ45 | 41135 | 13399 | SH |  | SOLE |  | 13399 | 0 | 0 |
| RED ROCK RESORTS INC | CL A | 75700L108 | BBG00B6G8077 | 309808 | 5806 | SH |  | SOLE |  | 5806 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 | BBG000C734W3 | 224838 | 291 | SH |  | SOLE |  | 291 | 0 | 0 |
| REGIONS FINANCIAL CORP NEW | COM | 7591EP100 | BBG000Q3JQJ6 | 412121 | 15778 | SH |  | SOLE |  | 15778 | 0 | 0 |
| RELIANCE INC | COM | 759509102 | BBG000CJ2332 | 575928 | 1895 | SH |  | SOLE |  | 1895 | 0 | 0 |
| RESMED INC | COM | 761152107 | BBG000L4NCN0 | 211460 | 942 | SH |  | SOLE |  | 942 | 0 | 0 |
| REXFORD INDL RLTY INC | COM | 76169C100 | BBG004MB8398 | 435800 | 13315 | SH |  | SOLE |  | 13315 | 0 | 0 |
| REYNOLDS CONSUMER PRODS INC | COM | 76171L106 | BBG00QVJVYB5 | 280402 | 13239 | SH |  | SOLE |  | 13239 | 0 | 0 |
| RILEY EXPLORATION PERMIAN IN | COM | 76665T102 | BBG000H69P66 | 399456 | 10959 | SH |  | SOLE |  | 10959 | 0 | 0 |
| RITHM CAPITAL CORP | COM NEW | 64828T201 | BBG004HQLTC5 | 311835 | 32894 | SH |  | SOLE |  | 32894 | 0 | 0 |
| ROCKWELL AUTOMATION INC | COM | 773903109 | BBG000BBCHL8 | 282797 | 788 | SH |  | SOLE |  | 788 | 0 | 0 |
| ROLLINS INC | COM | 775711104 | BBG000BSBD13 | 411204 | 7699 | SH |  | SOLE |  | 7699 | 0 | 0 |
| ROYAL BK CDA | COM | 780087102 | BBG000BSSDF0 | 745159 | 4606 | SH |  | SOLE |  | 4606 | 0 | 0 |
| ROYAL CARIBBEAN GROUP | COM | V7780T103 | BBG000BB5B39 | 265824 | 966 | SH |  | SOLE |  | 966 | 0 | 0 |
| RPM INTL INC | COM | 749685103 | BBG000DCPNF4 | 589939 | 5935 | SH |  | SOLE |  | 5935 | 0 | 0 |
| RYMAN HOSPITALITY PPTYS INC | COM | 78377T107 | BBG000BDVRJ4 | 914580 | 9912 | SH |  | SOLE |  | 9912 | 0 | 0 |
| SAIA INC | COM | 78709Y105 | BBG000P5LMQ0 | 323178 | 920 | SH |  | SOLE |  | 920 | 0 | 0 |
| SCANSOURCE INC | COM | 806037107 | BBG000BHTPZ4 | 215586 | 5939 | SH |  | SOLE |  | 5939 | 0 | 0 |
| SCHEIN HENRY INC | COM | 806407102 | BBG000BNMMJ3 | 310424 | 4212 | SH |  | SOLE |  | 4212 | 0 | 0 |
| SEI INVTS CO | COM | 784117103 | BBG000BSQLT9 | 531006 | 6767 | SH |  | SOLE |  | 6767 | 0 | 0 |
| SELECTIVE INS GROUP INC | COM | 816300107 | BBG000BSZ738 | 358706 | 4758 | SH |  | SOLE |  | 4758 | 0 | 0 |
| SEMPRA | COM | 816851109 | BBG000C2ZGQ9 | 438431 | 4512 | SH |  | SOLE |  | 4512 | 0 | 0 |
| SILGAN HLDGS INC | COM | 827048109 | BBG000BPDFV9 | 498464 | 12847 | SH |  | SOLE |  | 12847 | 0 | 0 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 | BBG000BJ2FK7 | 654534 | 3509 | SH |  | SOLE |  | 3509 | 0 | 0 |
| SIMPSON MFG INC | COM | 829073105 | BBG000JLCF05 | 548154 | 3194 | SH |  | SOLE |  | 3194 | 0 | 0 |
| SIXTH STREET SPECIALTY LENDI | COM | 83012A109 | BBG0062BTLS1 | 295164 | 16059 | SH |  | SOLE |  | 16059 | 0 | 0 |
| SMITH A O CORP | COM | 831865209 | BBG000BC1MP3 | 397091 | 6022 | SH |  | SOLE |  | 6022 | 0 | 0 |
| SMUCKER J M CO | COM NEW | 832696405 | BBG000BT1984 | 506599 | 5253 | SH |  | SOLE |  | 5253 | 0 | 0 |
| SNAP INC | CL A | 83304A106 | BBG00FXWRBF9 | 77482 | 16844 | SH |  | SOLE |  | 16844 | 0 | 0 |
| SOMNIGROUP INTERNATIONAL INC | COM | 88023U101 | BBG000PXGX45 | 300263 | 4062 | SH |  | SOLE |  | 4062 | 0 | 0 |
| SOUTHSTATE BK CORP | COM | 84472E102 | BBG000BNQ0V3 | 238702 | 2580 | SH |  | SOLE |  | 2580 | 0 | 0 |
| SOUTHWEST GAS HLDGS INC | COM | 844895102 | BBG00FWPVRT0 | 471432 | 5425 | SH |  | SOLE |  | 5425 | 0 | 0 |
| SS TECH HLDGS | COM | 78467J100 | BBG000RJ2J04 | 371770 | 5502 | SH |  | SOLE |  | 5502 | 0 | 0 |
| STAG INDUSTRIAL INC | COM | 85254J102 | BBG000BGLH82 | 967201 | 26822 | SH |  | SOLE |  | 26822 | 0 | 0 |
| STAR BULK CARRIERS CORP. | SHS PAR | Y8162K204 | BBG000L5R950 | 323441 | 14081 | SH |  | SOLE |  | 14081 | 0 | 0 |
| STARWOOD PPTY TR INC | COM | 85571B105 | BBG000M1J3Q7 | 372296 | 21620 | SH |  | SOLE |  | 21620 | 0 | 0 |
| STERIS PLC | SHS USD | G8473T100 | BBG00MS1B700 | 214275 | 969 | SH |  | SOLE |  | 969 | 0 | 0 |
| STIFEL FINL CORP | COM | 860630102 | BBG000BSS727 | 277126 | 3749 | SH |  | SOLE |  | 3749 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 | BBG000DN7RP0 | 967040 | 2943 | SH |  | SOLE |  | 2943 | 0 | 0 |
| SUN CMNTYS INC | COM | 866674104 | BBG000BLJXH9 | 322206 | 2558 | SH |  | SOLE |  | 2558 | 0 | 0 |
| SUNCOR ENERGY INC NEW | COM | 867224107 | BBG000BRK9W0 | 462241 | 6992 | SH |  | SOLE |  | 6992 | 0 | 0 |
| SYNAPTICS INC | COM | 87157D109 | BBG000BQV1S2 | 231832 | 3310 | SH |  | SOLE |  | 3310 | 0 | 0 |
| SYSCO CORP | COM | 871829107 | BBG000BTVL39 | 357791 | 5016 | SH |  | SOLE |  | 5016 | 0 | 0 |
| T-MOBILE US INC | COM | 872590104 | BBG000NDV1D4 | 234183 | 1115 | SH |  | SOLE |  | 1115 | 0 | 0 |
| TAYLOR MORRISON HOME CORP | COM | 87724P106 | BBG003PGJHT1 | 395974 | 6799 | SH |  | SOLE |  | 6799 | 0 | 0 |
| TE CONNECTIVITY PLC | ORD SHS | G87052109 | BBG01Q0D8ZV2 | 317919 | 1521 | SH |  | SOLE |  | 1521 | 0 | 0 |
| TECHNIPFMC PLC | COM | G87110105 | BBG00DL8NMZ8 | 316546 | 4579 | SH |  | SOLE |  | 4579 | 0 | 0 |
| TEEKAY TANKERS LTD | CL A | G8726X106 | BBG000QRN112 | 435374 | 5938 | SH |  | SOLE |  | 5938 | 0 | 0 |
| TELUS CORPORATION | COM | 87971M103 | BBG000JFY935 | 284877 | 22204 | SH |  | SOLE |  | 22204 | 0 | 0 |
| TESLA INC | COM | 88160R101 | BBG000N9MNX3 | 315244 | 848 | SH |  | SOLE |  | 848 | 0 | 0 |
| TEXAS ROADHOUSE INC | COM | 882681109 | BBG000PSJMV7 | 575678 | 3486 | SH |  | SOLE |  | 3486 | 0 | 0 |
| THOR INDS INC | COM | 885160101 | BBG000BV6SQ2 | 286805 | 3590 | SH |  | SOLE |  | 3590 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 | BBG000BV8G95 | 535794 | 3355 | SH |  | SOLE |  | 3355 | 0 | 0 |
| TORO CO | COM | 891092108 | BBG000BVQTN1 | 304054 | 3254 | SH |  | SOLE |  | 3254 | 0 | 0 |
| TORONTO DOMINION BK ONT | COM NEW | 891160509 | BBG000BXBKG0 | 489131 | 5242 | SH |  | SOLE |  | 5242 | 0 | 0 |
| TOWNEBANK PORTSMOUTH VA | COM | 89214P109 | BBG000BBSC23 | 489831 | 14548 | SH |  | SOLE |  | 14548 | 0 | 0 |
| TOYOTA MOTOR CORP | ADS | 892331307 | BBG000BPH4N9 | 389716 | 1891 | SH |  | SOLE |  | 1891 | 0 | 0 |
| TRANSDIGM GROUP INC | COM | 893641100 | BBG000L8DFM6 | 293217 | 253 | SH |  | SOLE |  | 253 | 0 | 0 |
| TRANSOCEAN LTD | REGISTERED SHS | H8817H100 | BBG000BH5P17 | 131261 | 19798 | SH |  | SOLE |  | 19798 | 0 | 0 |
| TRAVEL PLUS LEISURE CO | COM | 894164102 | BBG000PV2N55 | 528819 | 7643 | SH |  | SOLE |  | 7643 | 0 | 0 |
| TRICO BANCSHARES | COM | 896095106 | BBG000BGYJF6 | 530214 | 11153 | SH |  | SOLE |  | 11153 | 0 | 0 |
| TRIMBLE INC | COM | 896239100 | BBG000BNPS52 | 280424 | 4299 | SH |  | SOLE |  | 4299 | 0 | 0 |
| UBS GROUP AG | SHS | H42097107 | BBG007DJM575 | 200859 | 5141 | SH |  | SOLE |  | 5141 | 0 | 0 |
| UDR INC | COM | 902653104 | BBG000C412D7 | 856796 | 25364 | SH |  | SOLE |  | 25364 | 0 | 0 |
| UFP INDUSTRIES INC | COM | 90278Q108 | BBG000BL0T06 | 688413 | 7473 | SH |  | SOLE |  | 7473 | 0 | 0 |
| ULTA BEAUTY INC | COM | 90384S303 | BBG00FWQ4VD6 | 202811 | 388 | SH |  | SOLE |  | 388 | 0 | 0 |
| UMB FINL CORP | COM | 902788108 | BBG000DD8WX1 | 309383 | 2743 | SH |  | SOLE |  | 2743 | 0 | 0 |
| UNITED BANKSHARES INC WEST V | COM | 909907107 | BBG000BVXC87 | 210993 | 5094 | SH |  | SOLE |  | 5094 | 0 | 0 |
| UNITED CMNTY BKS BLAIRSVLE G | COM | 90984P303 | BBG000BL7HW0 | 438435 | 13923 | SH |  | SOLE |  | 13923 | 0 | 0 |
| UNIVERSAL DISPLAY CORP | COM | 91347P105 | BBG000BLRP41 | 308803 | 3369 | SH |  | SOLE |  | 3369 | 0 | 0 |
| VALMONT INDS INC | COM | 920253101 | BBG000BWBBX3 | 628524 | 1573 | SH |  | SOLE |  | 1573 | 0 | 0 |
| VERALTO CORP | COM SHS | 92338C103 | BBG01J3HMZ77 | 628931 | 7113 | SH |  | SOLE |  | 7113 | 0 | 0 |
| VIATRIS INC | COM | 92556V106 | BBG00Y4RQNH4 | 275145 | 20366 | SH |  | SOLE |  | 20366 | 0 | 0 |
| VICI PPTYS INC | COM | 925652109 | BBG00HZQTQG0 | 262463 | 9607 | SH |  | SOLE |  | 9607 | 0 | 0 |
| VIPER ENERGY INC | CL A | 64361Q101 | BBG01VXTFCN2 | 208495 | 4437 | SH |  | SOLE |  | 4437 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 | BBG000PSL0X0 | 290755 | 962 | SH |  | SOLE |  | 962 | 0 | 0 |
| VODAFONE GROUP PLC | SPONSORED ADR | 92857W308 | BBG000C4R6H6 | 473460 | 31522 | SH |  | SOLE |  | 31522 | 0 | 0 |
| VONTIER CORPORATION | COM | 928881101 | BBG00RRGSJW8 | 393752 | 11101 | SH |  | SOLE |  | 11101 | 0 | 0 |
| VULCAN MATLS CO | COM | 929160109 | BBG000BWH016 | 242347 | 890 | SH |  | SOLE |  | 890 | 0 | 0 |
| WALMART INC | COM | 931142103 | BBG000BWXBC2 | 701188 | 5642 | SH |  | SOLE |  | 5642 | 0 | 0 |
| WASTE CONNECTIONS INC | COM | 94106B101 | BBG000FLJ2N6 | 1021260 | 6287 | SH |  | SOLE |  | 6287 | 0 | 0 |
| WATTS WATER TECHNOLOGIES INC | CL A | 942749102 | BBG000C4Z7X7 | 612512 | 2110 | SH |  | SOLE |  | 2110 | 0 | 0 |
| WERNER ENTERPRISES INC | COM | 950755108 | BBG000BWPP85 | 436062 | 14827 | SH |  | SOLE |  | 14827 | 0 | 0 |
| WEYERHAEUSER CO | COM NEW | 962166104 | BBG000BX3GC2 | 492093 | 20143 | SH |  | SOLE |  | 20143 | 0 | 0 |
| WILLIS TOWERS WATSON PLC LTD | SHS | G96629103 | BBG000DB3KT1 | 369480 | 1271 | SH |  | SOLE |  | 1271 | 0 | 0 |
| WP CAREY INC | COM | 92936U109 | BBG000BCQPL3 | 456555 | 6718 | SH |  | SOLE |  | 6718 | 0 | 0 |
| XCEL ENERGY INC | COM | 98389B100 | BBG000BCTQ65 | 276928 | 3486 | SH |  | SOLE |  | 3486 | 0 | 0 |
| XYLEM INC | COM | 98419M100 | BBG00256TDP9 | 313926 | 2627 | SH |  | SOLE |  | 2627 | 0 | 0 |
| ZEBRA TECHNOLOGIES CORPORATI | CL A | 989207105 | BBG000CC7LQ7 | 241069 | 1153 | SH |  | SOLE |  | 1153 | 0 | 0 |
| ZOOMINFO TECHNOLOGIES INC | COMMON STOCK | 98980F104 | BBG00S1HJ3M8 | 71270 | 11918 | SH |  | SOLE |  | 11918 | 0 | 0 |
| ZURN ELKAY WATER SOLNS CORP | COM | 98983L108 | BBG001QFMKM2 | 281416 | 6276 | SH |  | SOLE |  | 6276 | 0 | 0 |

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