# EDGAR Filing Document

**Accession Number:** 0001008894
**File Stem:** 0001172661-23-000977
**Filing Date:** 2023-2
**Character Count:** 24491
**Document Hash:** 3bab7d8e6e12207e04c58f31d7ea96c1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-23-000977.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001172661-23-000977

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**EFFECTIVENESS DATE**: 20230214

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DEPRINCE RACE & ZOLLO INC
- **CENTRAL INDEX KEY:** 0001008894
- **IRS NUMBER:** 593299598
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-05268
- **FILM NUMBER:** 23624193

**BUSINESS ADDRESS:**
- **STREET 1:** 250 PARK AVENUE SOUTH
- **STREET 2:** SUITE 250
- **CITY:** WINTER PARK
- **STATE:** FL
- **ZIP:** 32789
- **BUSINESS PHONE:** 4074209903

**MAIL ADDRESS:**
- **STREET 1:** 250 PARK AVENUE SOUTH
- **STREET 2:** SUITE 250
- **CITY:** WINTER PARK
- **STATE:** FL
- **ZIP:** 32789

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**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:** DEPRINCE RACE  ZOLLO INC<br>**Address:** 250 Park Avenue South<br>Suite 250<br>Winter Park, FL 32789

**Form 13F File Number:** 028-05268

**CRD Number (if applicable):** 000112099

**SEC File Number (if applicable):** 801-48779

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:** Adelbert R. Sanchez<br>**Title:** Chief Compliance Officer<br>**Phone:** 407-650-1655

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

/s/ Adelbert R. Sanchez  Winter Park, FL  02-14-2023<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:** 199

**Form 13F Information Table Value Total:** $4363746002

      (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 |
| A10 NETWORKS INC | COM | 002121101 |  | 4434872 | 266679 | SH |  | SOLE |  | 230800 | 0 | 35879 |
| ABBOTT LABS | COM | 002824100 |  | 41657729 | 379431 | SH |  | SOLE |  | 275056 | 0 | 104375 |
| AGREE RLTY CORP | COM | 008492100 |  | 51526673 | 726444 | SH |  | SOLE |  | 714924 | 0 | 11520 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 28170957 | 91387 | SH |  | SOLE |  | 67564 | 0 | 23823 |
| ALICO INC | COM | 016230104 |  | 2348903 | 98404 | SH |  | SOLE |  | 79787 | 0 | 18617 |
| ALLEGION PLC | ORD SHS | G0176J109 |  | 19224265 | 182636 | SH |  | SOLE |  | 156396 | 0 | 26240 |
| ALLETE INC | COM NEW | 018522300 |  | 59403646 | 920844 | SH |  | SOLE |  | 857838 | 0 | 63006 |
| ALPINE INCOME PPTY TR INC | COM | 02083X103 |  | 8627346 | 452167 | SH |  | SOLE |  | 402678 | 0 | 49489 |
| AMBEV SA | SPONSORED ADR | 02319V103 |  | 3442704 | 1265700 | SH |  | SOLE |  | 1265700 | 0 | 0 |
| AMER SOFTWARE INC | CL A | 029683109 |  | 11905040 | 810970 | SH |  | SOLE |  | 704132 | 0 | 106838 |
| AMERICOLD REALTY TRUST INC | COM | 03064D108 |  | 29130339 | 1028977 | SH |  | SOLE |  | 958682 | 0 | 70295 |
| ANALOG DEVICES INC | COM | 032654105 |  | 48970336 | 298545 | SH |  | SOLE |  | 219445 | 0 | 79100 |
| APPLE HOSPITALITY REIT INC | COM NEW | 03784Y200 |  | 6675208 | 423017 | SH |  | SOLE |  | 416160 | 0 | 6857 |
| ARIS WATER SOLUTIONS INC | CLASS A COM | 04041L106 |  | 23818231 | 1652896 | SH |  | SOLE |  | 1569535 | 0 | 83361 |
| AT INC | COM | 00206R102 |  | 30867237 | 1676656 | SH |  | SOLE |  | 1219386 | 0 | 457270 |
| AVIENT CORPORATION | COM | 05368V106 |  | 35345437 | 1046962 | SH |  | SOLE |  | 977764 | 0 | 69198 |
| BALL CORP | COM | 058498106 |  | 5536877 | 108269 | SH |  | SOLE |  | 35156 | 0 | 73113 |
| BANK MARIN BANCORP | COM | 063425102 |  | 5144832 | 156473 | SH |  | SOLE |  | 131553 | 0 | 24920 |
| BARNES GROUP INC | COM | 067806109 |  | 38135354 | 933546 | SH |  | SOLE |  | 851150 | 0 | 82396 |
| BATH  BODY WORKS INC | COM | 070830104 |  | 2766912 | 65660 | SH |  | SOLE |  | 21306 | 0 | 44354 |
| BAXTER INTL INC | COM | 071813109 |  | 33243093 | 652209 | SH |  | SOLE |  | 474929 | 0 | 177280 |
| BORGWARNER INC | COM | 099724106 |  | 31679688 | 787073 | SH |  | SOLE |  | 547645 | 0 | 239428 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 26254195 | 364895 | SH |  | SOLE |  | 269345 | 0 | 95550 |
| BRUNSWICK CORP | COM | 117043109 |  | 43697923 | 606242 | SH |  | SOLE |  | 570882 | 0 | 35360 |
| BWX TECHNOLOGIES INC | COM | 05605H100 |  | 31228164 | 537675 | SH |  | SOLE |  | 529066 | 0 | 8609 |
| CADENCE BANK | COM | 12740C103 |  | 10043845 | 407293 | SH |  | SOLE |  | 400317 | 0 | 6976 |
| CADRE HLDGS INC | COM | 12763L105 |  | 2887975 | 143395 | SH |  | SOLE |  | 116554 | 0 | 26841 |
| CAMBRIDGE BANCORP | COM | 132152109 |  | 4374272 | 52664 | SH |  | SOLE |  | 44520 | 0 | 8144 |
| CAPITOL FED FINL INC | COM | 14057J101 |  | 12455420 | 1439933 | SH |  | SOLE |  | 1416690 | 0 | 23243 |
| CARPENTER TECHNOLOGY CORP | COM | 144285103 |  | 8577800 | 232209 | SH |  | SOLE |  | 199980 | 0 | 32229 |
| CARTERS INC | COM | 146229109 |  | 31362090 | 420347 | SH |  | SOLE |  | 304619 | 0 | 115728 |
| CELANESE CORP DEL | COM | 150870103 |  | 2258277 | 22088 | SH |  | SOLE |  | 7167 | 0 | 14921 |
| CEMEX SAB DE CV | SPON ADR NEW | 151290889 |  | 4118445 | 1016900 | SH |  | SOLE |  | 1016900 | 0 | 0 |
| CENTRAL VY CMNTY BANCORP | COM | 155685100 |  | 211059 | 9965 | SH |  | SOLE |  | 8134 | 0 | 1831 |
| CHAMPIONX CORPORATION | COM | 15872M104 |  | 48556163 | 1674928 | SH |  | SOLE |  | 1588040 | 0 | 86888 |
| CHEVRON CORP NEW | COM | 166764100 |  | 41135518 | 229180 | SH |  | SOLE |  | 166400 | 0 | 62780 |
| CINCINNATI FINL CORP | COM | 172062101 |  | 27426697 | 267865 | SH |  | SOLE |  | 196351 | 0 | 71514 |
| CITIGROUP INC | COM NEW | 172967424 |  | 27569268 | 609535 | SH |  | SOLE |  | 443565 | 0 | 165970 |
| CIVISTA BANCSHARES INC | COM NO PAR | 178867107 |  | 4085100 | 185602 | SH |  | SOLE |  | 155355 | 0 | 30247 |
| CME GROUP INC | COM | 12572Q105 |  | 26722137 | 158909 | SH |  | SOLE |  | 117129 | 0 | 41780 |
| CNH INDL N V | SHS | N20944109 |  | 4382421 | 272878 | SH |  | SOLE |  | 88575 | 0 | 184303 |
| COCA COLA CO | COM | 191216100 |  | 19261999 | 302814 | SH |  | SOLE |  | 218124 | 0 | 84690 |
| COCA-COLA EUROPACIFIC PARTNE | SHS | G25839104 |  | 17072969 | 308622 | SH |  | SOLE |  | 263622 | 0 | 45000 |
| COHEN  STEERS INC | COM | 19247A100 |  | 27546784 | 426685 | SH |  | SOLE |  | 400917 | 0 | 25768 |
| COLUMBIA BKG SYS INC | COM | 197236102 |  | 32975568 | 1094443 | SH |  | SOLE |  | 1001213 | 0 | 93230 |
| COMMUNITY HEALTHCARE TR INC | COM | 20369C106 |  | 17619614 | 492168 | SH |  | SOLE |  | 363020 | 0 | 129148 |
| CONAGRA BRANDS INC | COM | 205887102 |  | 16249085 | 419873 | SH |  | SOLE |  | 309136 | 0 | 110737 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 43263284 | 366638 | SH |  | SOLE |  | 266868 | 0 | 99770 |
| COUSINS PPTYS INC | COM NEW | 222795502 |  | 34397157 | 1360109 | SH |  | SOLE |  | 1274373 | 0 | 85736 |
| CRACKER BARREL OLD CTRY STOR | COM | 22410J106 |  | 26297645 | 277577 | SH |  | SOLE |  | 273105 | 0 | 4472 |
| CREDICORP LTD | COM | G2519Y108 |  | 3805263 | 28050 | SH |  | SOLE |  | 28050 | 0 | 0 |
| CTO RLTY GROWTH INC NEW | COM | 22948Q101 |  | 6218874 | 340201 | SH |  | SOLE |  | 289467 | 0 | 50734 |
| CVS HEALTH CORP | COM | 126650100 |  | 28898499 | 310103 | SH |  | SOLE |  | 226848 | 0 | 83255 |
| DANA INC | COM | 235825205 |  | 30317555 | 2003804 | SH |  | SOLE |  | 1852929 | 0 | 150875 |
| DELUXE CORP | COM | 248019101 |  | 33369504 | 1965224 | SH |  | SOLE |  | 1793782 | 0 | 171442 |
| DENTSPLY SIRONA INC | COM | 24906P109 |  | 2418312 | 75952 | SH |  | SOLE |  | 24657 | 0 | 51295 |
| DHT HOLDINGS INC | SHS NEW | Y2065G121 |  | 2524495 | 284290 | SH |  | SOLE |  | 245281 | 0 | 39009 |
| DONEGAL GROUP INC | CL A | 257701201 |  | 1514345 | 106644 | SH |  | SOLE |  | 85648 | 0 | 20996 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 20115904 | 195319 | SH |  | SOLE |  | 143159 | 0 | 52160 |
| EAST WEST BANCORP INC | COM | 27579R104 |  | 31419670 | 476778 | SH |  | SOLE |  | 345478 | 0 | 131300 |
| EASTERLY GOVT PPTYS INC | COM | 27616P103 |  | 15883523 | 1113071 | SH |  | SOLE |  | 852427 | 0 | 260644 |
| EASTMAN CHEM CO | COM | 277432100 |  | 23471822 | 288210 | SH |  | SOLE |  | 210905 | 0 | 77305 |
| EDGEWELL PERS CARE CO | COM | 28035Q102 |  | 26529279 | 688357 | SH |  | SOLE |  | 638396 | 0 | 49961 |
| ELEMENT SOLUTIONS INC | COM | 28618M106 |  | 47986475 | 2638069 | SH |  | SOLE |  | 2470466 | 0 | 167603 |
| ELLINGTON FINANCIAL INC | COM | 28852N109 |  | 123700 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| ELLINGTON RESIDENTIAL MTG RE | COM SHS BEN INT | 288578107 |  | 82320 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| EMERSON ELEC CO | COM | 291011104 |  | 50132177 | 521884 | SH |  | SOLE |  | 384807 | 0 | 137077 |
| ENCOMPASS HEALTH CORP | COM | 29261A100 |  | 35946109 | 601005 | SH |  | SOLE |  | 561099 | 0 | 39906 |
| ENERGIZER HLDGS INC NEW | COM | 29272W109 |  | 30146252 | 898547 | SH |  | SOLE |  | 652385 | 0 | 246162 |
| ENERSYS | COM | 29275Y102 |  | 62658409 | 848570 | SH |  | SOLE |  | 792714 | 0 | 55856 |
| ENPRO INDS INC | COM | 29355X107 |  | 2330748 | 21444 | SH |  | SOLE |  | 21077 | 0 | 367 |
| ENTERPRISE FINL SVCS CORP | COM | 293712105 |  | 5818602 | 118844 | SH |  | SOLE |  | 105082 | 0 | 13762 |
| EVOLUTION PETE CORP | COM | 30049A107 |  | 6552811 | 867922 | SH |  | SOLE |  | 733804 | 0 | 134118 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 32151568 | 291492 | SH |  | SOLE |  | 211912 | 0 | 79580 |
| FIDELITY NATL INFORMATION SV | COM | 31620M106 |  | 24941456 | 367597 | SH |  | SOLE |  | 270742 | 0 | 96855 |
| FIFTH THIRD BANCORP | COM | 316773100 |  | 22947937 | 699419 | SH |  | SOLE |  | 508999 | 0 | 190420 |
| FIRST AMERN FINL CORP | COM | 31847R102 |  | 30152341 | 576086 | SH |  | SOLE |  | 541090 | 0 | 34996 |
| FIRST INTST BANCSYSTEM INC | COM CL A | 32055Y201 |  | 3257345 | 84278 | SH |  | SOLE |  | 82896 | 0 | 1382 |
| FIRST MERCHANTS CORP | COM | 320817109 |  | 23825136 | 579546 | SH |  | SOLE |  | 540363 | 0 | 39183 |
| FIRST MID ILL BANCSHARES INC | COM | 320866106 |  | 4285792 | 133597 | SH |  | SOLE |  | 113016 | 0 | 20581 |
| FIVE STAR BANCORP | COM | 33830T103 |  | 1178539 | 43265 | SH |  | SOLE |  | 38094 | 0 | 5171 |
| FLOWSERVE CORP | COM | 34354P105 |  | 80196047 | 2613952 | SH |  | SOLE |  | 2430194 | 0 | 183758 |
| FOMENTO ECONOMICO MEXICANO S | SPON ADR UNITS | 344419106 |  | 6577704 | 84200 | SH |  | SOLE |  | 84200 | 0 | 0 |
| GENERAL MTRS CO | COM | 37045V100 |  | 31876793 | 947586 | SH |  | SOLE |  | 684926 | 0 | 262660 |
| GERMAN AMERN BANCORP INC | COM | 373865104 |  | 5351431 | 143470 | SH |  | SOLE |  | 122220 | 0 | 21250 |
| GLACIER BANCORP INC NEW | COM | 37637Q105 |  | 21588040 | 436828 | SH |  | SOLE |  | 429876 | 0 | 6952 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 18023329 | 52488 | SH |  | SOLE |  | 38864 | 0 | 13624 |
| GRAPHIC PACKAGING HLDG CO | COM | 388689101 |  | 18606273 | 836237 | SH |  | SOLE |  | 608528 | 0 | 227709 |
| GRUPO AEROPORTUARIO DEL SURE | SPON ADR SER B | 40051E202 |  | 1491136 | 6400 | SH |  | SOLE |  | 6400 | 0 | 0 |
| GRUPO TELEVISA S A B | SPON ADR REP ORD | 40049J206 |  | 1554094 | 340810 | SH |  | SOLE |  | 340810 | 0 | 0 |
| GUARANTY BANCSHARES INC TEX | COM | 400764106 |  | 3613645 | 104320 | SH |  | SOLE |  | 85279 | 0 | 19041 |
| HANCOCK WHITNEY CORPORATION | COM | 410120109 |  | 14671848 | 303200 | SH |  | SOLE |  | 297957 | 0 | 5243 |
| HANNON ARMSTRONG SUST INFR C | COM | 41068X100 |  | 36132728 | 1246816 | SH |  | SOLE |  | 1179146 | 0 | 67670 |
| HARTFORD FINL SVCS GROUP INC | COM | 416515104 |  | 25267769 | 333216 | SH |  | SOLE |  | 244153 | 0 | 89063 |
| HASBRO INC | COM | 418056107 |  | 34808523 | 570538 | SH |  | SOLE |  | 394402 | 0 | 176136 |
| HEALTHCARE SVCS GROUP INC | COM | 421906108 |  | 36171948 | 3014329 | SH |  | SOLE |  | 2759092 | 0 | 255237 |
| HERITAGE COMM CORP | COM | 426927109 |  | 4110392 | 316184 | SH |  | SOLE |  | 262464 | 0 | 53720 |
| HERITAGE FINL CORP WASH | COM | 42722X106 |  | 3676923 | 120004 | SH |  | SOLE |  | 101723 | 0 | 18281 |
| HILLENBRAND INC | COM | 431571108 |  | 20287921 | 475461 | SH |  | SOLE |  | 467892 | 0 | 7569 |
| HORACE MANN EDUCATORS CORP N | COM | 440327104 |  | 20608658 | 551476 | SH |  | SOLE |  | 524108 | 0 | 27368 |
| HOST HOTELS  RESORTS INC | COM | 44107P104 |  | 44534240 | 2774719 | SH |  | SOLE |  | 2027226 | 0 | 747493 |
| HUNTSMAN CORP | COM | 447011107 |  | 20771308 | 755870 | SH |  | SOLE |  | 552958 | 0 | 202912 |
| ICICI BANK LIMITED | ADR | 45104G104 |  | 7071718 | 323057 | SH |  | SOLE |  | 323057 | 0 | 0 |
| INGREDION INC | COM | 457187102 |  | 22314526 | 227862 | SH |  | SOLE |  | 224193 | 0 | 3669 |
| INTERNATIONAL FLAVORS | COM | 459506101 |  | 31129093 | 296920 | SH |  | SOLE |  | 217640 | 0 | 79280 |
| INTERNATIONAL GAME TECHNOLOG | SHS USD | G4863A108 |  | 54219420 | 2390627 | SH |  | SOLE |  | 2257920 | 0 | 132707 |
| ITAU UNIBANCO HLDG S A | SPON ADR REP PFD | 465562106 |  | 4399140 | 934000 | SH |  | SOLE |  | 934000 | 0 | 0 |
| ITT INC | COM | 45073V108 |  | 36030297 | 444270 | SH |  | SOLE |  | 412575 | 0 | 31695 |
| J  J SNACK FOODS CORP | COM | 466032109 |  | 56323896 | 376220 | SH |  | SOLE |  | 349508 | 0 | 26712 |
| JAMES RIV GROUP LTD | COM | G5005R107 |  | 4147812 | 198365 | SH |  | SOLE |  | 168424 | 0 | 29941 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 48372599 | 273833 | SH |  | SOLE |  | 200593 | 0 | 73240 |
| JOHNSON OUTDOORS INC | CL A | 479167108 |  | 5924154 | 89597 | SH |  | SOLE |  | 77186 | 0 | 12411 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 45259018 | 337502 | SH |  | SOLE |  | 246042 | 0 | 91460 |
| KAISER ALUMINUM CORP | COM PAR $0.01 | 483007704 |  | 57478476 | 756694 | SH |  | SOLE |  | 700416 | 0 | 56278 |
| KAMAN CORP | COM | 483548103 |  | 27623434 | 1238719 | SH |  | SOLE |  | 1161575 | 0 | 77144 |
| KENNAMETAL INC | COM | 489170100 |  | 19187489 | 797485 | SH |  | SOLE |  | 784659 | 0 | 12826 |
| KIMBALL INTL INC | CL B | 494274103 |  | 8837673 | 1359642 | SH |  | SOLE |  | 1018714 | 0 | 340928 |
| KOHLS CORP | COM | 500255104 |  | 30102974 | 1192197 | SH |  | SOLE |  | 1134388 | 0 | 57809 |
| KULICKE  SOFFA INDS INC | COM | 501242101 |  | 74623157 | 1686018 | SH |  | SOLE |  | 1566540 | 0 | 119478 |
| LEAR CORP | COM NEW | 521865204 |  | 23432091 | 188938 | SH |  | SOLE |  | 163986 | 0 | 24952 |
| LENNOX INTL INC | COM | 526107107 |  | 29160223 | 121892 | SH |  | SOLE |  | 78170 | 0 | 43722 |
| LEVI STRAUSS  CO NEW | CL A COM STK | 52736R102 |  | 38170928 | 2459467 | SH |  | SOLE |  | 2294419 | 0 | 165048 |
| LUXFER HLDGS PLC | SHS | G5698W116 |  | 8128977 | 592491 | SH |  | SOLE |  | 515856 | 0 | 76635 |
| LYONDELLBASELL INDUSTRIES N | SHS - A - | N53745100 |  | 15361463 | 185011 | SH |  | SOLE |  | 158505 | 0 | 26506 |
| MARATHON PETE CORP | COM | 56585A102 |  | 30596138 | 262876 | SH |  | SOLE |  | 190376 | 0 | 72500 |
| MARINE PRODS CORP | COM | 568427108 |  | 5900631 | 501328 | SH |  | SOLE |  | 421678 | 0 | 79650 |
| MASCO CORP | COM | 574599106 |  | 32780075 | 702380 | SH |  | SOLE |  | 509290 | 0 | 193090 |
| MATIV HOLDINGS INC | COM | 808541106 |  | 18274751 | 874390 | SH |  | SOLE |  | 701333 | 0 | 173057 |
| MDU RES GROUP INC | COM | 552690109 |  | 39107805 | 1288985 | SH |  | SOLE |  | 1211026 | 0 | 77959 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 32830327 | 422418 | SH |  | SOLE |  | 362093 | 0 | 60325 |
| MERCK  CO INC | COM | 58933Y105 |  | 36887990 | 332474 | SH |  | SOLE |  | 243574 | 0 | 88900 |
| METHODE ELECTRS INC | COM | 591520200 |  | 32063137 | 722631 | SH |  | SOLE |  | 682281 | 0 | 40350 |
| MILLERKNOLL INC | COM | 600544100 |  | 39678351 | 1888546 | SH |  | SOLE |  | 1770588 | 0 | 117958 |
| MONRO INC | COM | 610236101 |  | 38361059 | 848696 | SH |  | SOLE |  | 788890 | 0 | 59806 |
| NATHANS FAMOUS INC NEW | COM | 632347100 |  | 2749696 | 40912 | SH |  | SOLE |  | 33696 | 0 | 7216 |
| NATIONAL BK HLDGS CORP | CL A | 633707104 |  | 6570198 | 156173 | SH |  | SOLE |  | 134595 | 0 | 21578 |
| NETSTREIT CORP | COM | 64119V303 |  | 32805623 | 1789723 | SH |  | SOLE |  | 1642136 | 0 | 147587 |
| NEWELL BRANDS INC | COM | 651229106 |  | 92141838 | 7044483 | SH |  | SOLE |  | 6045907 | 0 | 998576 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 34894222 | 417395 | SH |  | SOLE |  | 303202 | 0 | 114193 |
| NORTHWEST NAT HLDG CO | COM | 66765N105 |  | 18497614 | 388687 | SH |  | SOLE |  | 381937 | 0 | 6750 |
| NOV INC | COM | 62955J103 |  | 33846709 | 1620235 | SH |  | SOLE |  | 1473687 | 0 | 146548 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 |  | 27814386 | 176007 | SH |  | SOLE |  | 150897 | 0 | 25110 |
| OIL DRI CORP AMER | COM | 677864100 |  | 6224890 | 185596 | SH |  | SOLE |  | 158608 | 0 | 26988 |
| OLD NATL BANCORP IND | COM | 680033107 |  | 23656933 | 1315736 | SH |  | SOLE |  | 1294691 | 0 | 21045 |
| OUTFRONT MEDIA INC | COM | 69007J106 |  | 34135650 | 2058845 | SH |  | SOLE |  | 2026570 | 0 | 32275 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 51266052 | 176172 | SH |  | SOLE |  | 129047 | 0 | 47125 |
| PERELLA WEINBERG PARTNERS | CLASS A COM | 71367G102 |  | 3737612 | 381389 | SH |  | SOLE |  | 321221 | 0 | 60168 |
| PERRIGO CO PLC | SHS | G97822103 |  | 62504322 | 1833509 | SH |  | SOLE |  | 1711618 | 0 | 121891 |
| PHIBRO ANIMAL HEALTH CORP | CL A COM | 71742Q106 |  | 685908 | 51149 | SH |  | SOLE |  | 41577 | 0 | 9572 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 23381028 | 231015 | SH |  | SOLE |  | 168605 | 0 | 62410 |
| PRIMORIS SVCS CORP | COM | 74164F103 |  | 9842328 | 448602 | SH |  | SOLE |  | 376445 | 0 | 72157 |
| PROLOGIS INC. | COM | 74340W103 |  | 22434510 | 199011 | SH |  | SOLE |  | 146641 | 0 | 52370 |
| PRUDENTIAL FINL INC | COM | 744320102 |  | 29242434 | 294012 | SH |  | SOLE |  | 215362 | 0 | 78650 |
| QUALCOMM INC | COM | 747525103 |  | 30106519 | 273845 | SH |  | SOLE |  | 200455 | 0 | 73390 |
| QUANEX BLDG PRODS CORP | COM | 747619104 |  | 4610330 | 194693 | SH |  | SOLE |  | 159377 | 0 | 35316 |
| RAYTHEON TECHNOLOGIES CORP | COM | 75513E101 |  | 41007328 | 406335 | SH |  | SOLE |  | 301127 | 0 | 105208 |
| RESOURCES CONNECTION INC | COM | 76122Q105 |  | 3566970 | 194068 | SH |  | SOLE |  | 159344 | 0 | 34724 |
| REV GROUP INC | COM | 749527107 |  | 9036286 | 716029 | SH |  | SOLE |  | 614042 | 0 | 101987 |
| RGC RES INC | COM | 74955L103 |  | 4949100 | 224449 | SH |  | SOLE |  | 184445 | 0 | 40004 |
| RIVERVIEW BANCORP INC | COM | 769397100 |  | 3445263 | 448602 | SH |  | SOLE |  | 376123 | 0 | 72479 |
| ROCKY BRANDS INC | COM | 774515100 |  | 3876538 | 164121 | SH |  | SOLE |  | 137235 | 0 | 26886 |
| ROYAL GOLD INC | COM | 780287108 |  | 26551309 | 235551 | SH |  | SOLE |  | 218400 | 0 | 17151 |
| RUTHS HOSPITALITY GROUP INC | COM | 783332109 |  | 6112851 | 394887 | SH |  | SOLE |  | 337135 | 0 | 57752 |
| SANDY SPRING BANCORP INC | COM | 800363103 |  | 25947987 | 736531 | SH |  | SOLE |  | 674031 | 0 | 62500 |
| SCHNITZER STEEL INDS INC | CL A | 806882106 |  | 4923187 | 160626 | SH |  | SOLE |  | 135905 | 0 | 24721 |
| SCHOLASTIC CORP | COM | 807066105 |  | 18070589 | 457947 | SH |  | SOLE |  | 421483 | 0 | 36464 |
| SEALED AIR CORP NEW | COM | 81211K100 |  | 20379871 | 408578 | SH |  | SOLE |  | 301387 | 0 | 107191 |
| SKYWORKS SOLUTIONS INC | COM | 83088M102 |  | 5222934 | 57313 | SH |  | SOLE |  | 19285 | 0 | 38028 |
| SMARTFINANCIAL INC | COM NEW | 83190L208 |  | 2498375 | 90850 | SH |  | SOLE |  | 75493 | 0 | 15357 |
| SMITH  NEPHEW PLC | SPDN ADR NEW | 83175M205 |  | 4134391 | 153752 | SH |  | SOLE |  | 49930 | 0 | 103822 |
| SMITH A O CORP | COM | 831865209 |  | 3647848 | 63729 | SH |  | SOLE |  | 20676 | 0 | 43053 |
| SOLARIS OILFIELD INFRASTRUCT | COM CL A | 83418M103 |  | 12587496 | 1267623 | SH |  | SOLE |  | 920298 | 0 | 347325 |
| SONOCO PRODS CO | COM | 835495102 |  | 32186621 | 530170 | SH |  | SOLE |  | 521653 | 0 | 8517 |
| SOUTHERN COPPER CORP | COM | 84265V105 |  | 7832583 | 129700 | SH |  | SOLE |  | 129700 | 0 | 0 |
| STAG INDL INC | COM | 85254J102 |  | 54490298 | 1686484 | SH |  | SOLE |  | 1572250 | 0 | 114234 |
| STANLEY BLACK  DECKER INC | COM | 854502101 |  | 2806258 | 37357 | SH |  | SOLE |  | 12121 | 0 | 25236 |
| STEWART INFORMATION SVCS COR | COM | 860372101 |  | 8821523 | 206448 | SH |  | SOLE |  | 151986 | 0 | 54462 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 18071348 | 242601 | SH |  | SOLE |  | 242601 | 0 | 0 |
| TENARIS S A | SPONSORED ADS | 88031M109 |  | 3199560 | 91000 | SH |  | SOLE |  | 91000 | 0 | 0 |
| TENNANT CO | COM | 880345103 |  | 33073680 | 537172 | SH |  | SOLE |  | 487695 | 0 | 49477 |
| TERRITORIAL BANCORP INC | COM | 88145X108 |  | 3001466 | 125009 | SH |  | SOLE |  | 101617 | 0 | 23392 |
| TIMKEN CO | COM | 887389104 |  | 19142878 | 270877 | SH |  | SOLE |  | 198622 | 0 | 72255 |
| TJX COS INC NEW | COM | 872540109 |  | 28870522 | 362695 | SH |  | SOLE |  | 268154 | 0 | 94541 |
| TRICO BANCSHARES | COM | 896095106 |  | 2955941 | 57971 | SH |  | SOLE |  | 50243 | 0 | 7728 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 20001334 | 464823 | SH |  | SOLE |  | 340685 | 0 | 124138 |
| UNION PAC CORP | COM | 907818108 |  | 32464849 | 156782 | SH |  | SOLE |  | 115404 | 0 | 41378 |
| UNITED CMNTY BKS BLAIRSVLE G | COM | 90984P303 |  | 9962922 | 294761 | SH |  | SOLE |  | 289877 | 0 | 4884 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 25298240 | 145526 | SH |  | SOLE |  | 106606 | 0 | 38920 |
| UNITIL CORP | COM | 913259107 |  | 4386298 | 85403 | SH |  | SOLE |  | 72432 | 0 | 12971 |
| VALE S A | SPONSORED ADS | 91912E105 |  | 4802510 | 283000 | SH |  | SOLE |  | 283000 | 0 | 0 |
| VALLEY NATL BANCORP | COM | 919794107 |  | 18089090 | 1599389 | SH |  | SOLE |  | 1574041 | 0 | 25348 |
| VISTRA CORP | COM | 92840M102 |  | 17925573 | 772654 | SH |  | SOLE |  | 561856 | 0 | 210798 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 50854003 | 1231630 | SH |  | SOLE |  | 903545 | 0 | 328085 |
| WESTAMERICA BANCORPORATION | COM | 957090103 |  | 27635681 | 468322 | SH |  | SOLE |  | 460702 | 0 | 7620 |
| WESTERN DIGITAL CORP. | COM | 958102105 |  | 22648641 | 717865 | SH |  | SOLE |  | 525685 | 0 | 192180 |
| WESTROCK CO | COM | 96145D105 |  | 26254148 | 746705 | SH |  | SOLE |  | 549085 | 0 | 197620 |
| WESTWOOD HLDGS GROUP INC | COM | 961765104 |  | 5959046 | 535226 | SH |  | SOLE |  | 459569 | 0 | 75657 |
| WILLIAM PENN BANCORPORATION | COM | 96927A105 |  | 1539640 | 127033 | SH |  | SOLE |  | 104747 | 0 | 22286 |
| YORK WTR CO | COM | 987184108 |  | 5573337 | 123907 | SH |  | SOLE |  | 100153 | 0 | 23754 |

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