# EDGAR Filing Document

**Accession Number:** 0001943239
**File Stem:** 0001943239-25-000009
**Filing Date:** 2025-11
**Character Count:** 22686
**Document Hash:** c8941cc8e168af210b32463a2da9b6e8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001943239-25-000009.hdr.sgml**: 20251112

**ACCESSION NUMBER**: 0001943239-25-000009

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251112

**DATE AS OF CHANGE**: 20251112

**EFFECTIVENESS DATE**: 20251112

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** V-Square Quantitative Management LLC
- **CENTRAL INDEX KEY:** 0001943239

**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:** 028-23188
- **FILM NUMBER:** 251470194

**BUSINESS ADDRESS:**
- **STREET 1:** 320 NORTH SANGAMON STREET
- **STREET 2:** SUITE 1225
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60607
- **BUSINESS PHONE:** 3128727281

**MAIL ADDRESS:**
- **STREET 1:** 320 NORTH SANGAMON STREET
- **STREET 2:** SUITE 1225
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60607

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**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:** V-Square Quantitative Management LLC<br>**Address:** 320 NORTH SANGAMON STREET<br>SUITE 1225<br>CHICAGO, IL 60607

**Form 13F File Number:** 028-23188

**CRD Number (if applicable):** 000310355

**SEC File Number (if applicable):** 801-119868

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:** Anita Woodhouse<br>**Title:** Chief Compliance Officer<br>**Phone:** 312-872-4984

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

Woodhouse  Chicago, IL  11-10-2025<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:** 177

**Form 13F Information Table Value Total:** $592754561

      (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 |
| Amcor PLC | A | G0250X107 | BBG00LNJRQ09 | 204876 | 25046 | SH |  | SOLE |  | 25046 | 0 | 0 |
| Arch Capital Group Ltd | A | G0450A105 | BBG000HXNN20 | 962736 | 10611 | SH |  | SOLE |  | 5256 | 0 | 5355 |
| Accenture PLC | A | G1151C101 | BBG000D9D830 | 4715978 | 19124 | SH |  | SOLE |  | 9079 | 0 | 10045 |
| CRH PLC | A | G25508105 | BBG000D3JXM1 | 1590953 | 13269 | SH |  | SOLE |  | 7737 | 0 | 5532 |
| Invesco Ltd | A | G491BT108 | BBG000BY2Y78 | 393054 | 17134 | SH |  | SOLE |  | 17134 | 0 | 0 |
| Johnson Controls International | A | G51502105 | BBG000BVWLJ6 | 3665073 | 33334 | SH |  | SOLE |  | 25575 | 0 | 7759 |
| Medtronic PLC | A | G5960L103 | BBG000BNWG87 | 1350503 | 14180 | SH |  | SOLE |  | 5862 | 0 | 8318 |
| Norwegian Cruise Line Holdings | A | G66721104 | BBG000BSRN78 | 323269 | 13125 | SH |  | SOLE |  | 13125 | 0 | 0 |
| Smurfit WestRock PLC | A | G8267P108 | BBG01NK9ZXT4 | 533956 | 12543 | SH |  | SOLE |  | 8642 | 0 | 3901 |
| TE Connectivity PLC | A | G87052109 | BBG01Q08MMR1 | 2515594 | 11459 | SH |  | SOLE |  | 10375 | 0 | 1084 |
| XP Inc | A | G98239109 | BBG00QVJYGM9 | 259302 | 13800 | SH |  | SOLE |  | 13800 | 0 | 0 |
| CNH Industrial NV | A | N20944109 | BBG0059JSF49 | 126359 | 11646 | SH |  | SOLE |  | 4776 | 0 | 6870 |
| LyondellBasell Industries NV | A | N53745100 | BBG000WCFV84 | 692151 | 14114 | SH |  | SOLE |  | 10644 | 0 | 3470 |
| AES Corp/The | A | 00130H105 | BBG000C23KJ3 | 291494 | 22150 | SH |  | SOLE |  | 22150 | 0 | 0 |
| AT Inc | A | 00206R102 | BBG000BSJK37 | 1015821 | 35971 | SH |  | SOLE |  | 10962 | 0 | 25009 |
| AbbVie Inc | A | 00287Y109 | BBG0025Y4RY4 | 2562453 | 11067 | SH |  | SOLE |  | 4578 | 0 | 6489 |
| Adobe Inc | A | 00724F101 | BBG000BB5006 | 4271097 | 12108 | SH |  | SOLE |  | 5799 | 0 | 6309 |
| Alphabet Inc | A | 02079K107 | BBG009S3NB30 | 20921919 | 85904 | SH |  | SOLE |  | 46435 | 0 | 39469 |
| Alphabet Inc | A | 02079K305 | BBG009S39JX6 | 29610309 | 121803 | SH |  | SOLE |  | 58328 | 0 | 63475 |
| Altria Group Inc | A | 02209S103 | BBG000BP6LJ8 | 1006292 | 15233 | SH |  | SOLE |  | 10281 | 0 | 4952 |
| APA Corp | A | 03743Q108 | BBG00YTS96G2 | 316150 | 13021 | SH |  | SOLE |  | 11998 | 0 | 1023 |
| Baker Hughes Co | A | 05722G100 | BBG00GBVBK51 | 1102241 | 22624 | SH |  | SOLE |  | 12938 | 0 | 9686 |
| Boston Scientific Corp | A | 101137107 | BBG000C0LW92 | 1282761 | 13139 | SH |  | SOLE |  | 4498 | 0 | 8641 |
| Bristol-Myers Squibb Co | A | 110122108 | BBG000DQLV23 | 2316471 | 51363 | SH |  | SOLE |  | 27913 | 0 | 23450 |
| Broadcom Inc | A | 11135F101 | BBG00KHY5S69 | 16341102 | 49532 | SH |  | SOLE |  | 19150 | 0 | 30382 |
| Brown-Forman Corp | A | 115637209 | BBG000BD2NY8 | 328887 | 12145 | SH |  | SOLE |  | 11718 | 0 | 427 |
| CBRE Group Inc | A | 12504L109 | BBG000C04224 | 2385931 | 15143 | SH |  | SOLE |  | 10860 | 0 | 4283 |
| CSX Corp | A | 126408103 | BBG000BGJRC8 | 1610769 | 45361 | SH |  | SOLE |  | 23872 | 0 | 21489 |
| CVS Health Corp | A | 126650100 | BBG000BGRY34 | 796948 | 10571 | SH |  | SOLE |  | 6132 | 0 | 4439 |
| Coterra Energy Inc | A | 127097103 | BBG000C3GN47 | 271147 | 11465 | SH |  | SOLE |  | 11465 | 0 | 0 |
| Cadence Design Systems Inc | A | 127387108 | BBG000C13CD9 | 3617627 | 10299 | SH |  | SOLE |  | 7154 | 0 | 3145 |
| Capital One Financial Corp | A | 14040H105 | BBG000BGKTF9 | 2814347 | 13239 | SH |  | SOLE |  | 5313 | 0 | 7926 |
| Carnival Corp | A | 143658300 | BBG000BF6LY3 | 537524 | 18593 | SH |  | SOLE |  | 18593 | 0 | 0 |
| Carrier Global Corp | A | 14448C104 | BBG00RP5HYS8 | 1095137 | 18344 | SH |  | SOLE |  | 9161 | 0 | 9183 |
| Cisco Systems Inc | A | 17275R102 | BBG000C3J3C9 | 1830782 | 26758 | SH |  | SOLE |  | 12403 | 0 | 14355 |
| Citigroup Inc | A | 172967424 | BBG000FY4S11 | 1113354 | 10969 | SH |  | SOLE |  | 4238 | 0 | 6731 |
| Citizens Financial Group Inc | A | 174610105 | BBG006Q0HY77 | 707134 | 13302 | SH |  | SOLE |  | 8620 | 0 | 4682 |
| Coca-Cola Co/The | A | 191216100 | BBG000BMX289 | 6283555 | 94746 | SH |  | SOLE |  | 61726 | 0 | 33020 |
| Cognizant Technology Solutions | A | 192446102 | BBG000BBDV81 | 828583 | 12354 | SH |  | SOLE |  | 10654 | 0 | 1700 |
| Colgate-Palmolive Co | A | 194162103 | BBG000BFQYY3 | 1413659 | 17684 | SH |  | SOLE |  | 8617 | 0 | 9067 |
| Comcast Corp | A | 20030N101 | BBG000BFT2L4 | 3659550 | 116472 | SH |  | SOLE |  | 60758 | 0 | 55714 |
| Conagra Brands Inc | A | 205887102 | BBG000BDXGP9 | 237700 | 12982 | SH |  | SOLE |  | 11795 | 0 | 1187 |
| ConocoPhillips | A | 20825C104 | BBG000BQQH30 | 1742442 | 18421 | SH |  | SOLE |  | 18421 | 0 | 0 |
| Consolidated Edison Inc | A | 209115104 | BBG000BHLYS1 | 2017637 | 20072 | SH |  | SOLE |  | 16091 | 0 | 3981 |
| Copart Inc | A | 217204106 | BBG000BM9RH1 | 674820 | 15006 | SH |  | SOLE |  | 9230 | 0 | 5776 |
| Corning Inc | A | 219350105 | BBG000BKFZM4 | 853276 | 10402 | SH |  | SOLE |  | 7684 | 0 | 2718 |
| Coupang Inc | A | 22266T109 | BBG00XMJRPQ8 | 739859 | 22977 | SH |  | SOLE |  | 22977 | 0 | 0 |
| Crown Castle Inc | A | 22822V101 | BBG000FV1Z23 | 1044022 | 10820 | SH |  | SOLE |  | 5859 | 0 | 4961 |
| Danaher Corp | A | 235851102 | BBG000BH3JF8 | 3661267 | 18467 | SH |  | SOLE |  | 9024 | 0 | 9443 |
| Delta Air Lines Inc | A | 247361702 | BBG000R7Z112 | 1175122 | 20707 | SH |  | SOLE |  | 19480 | 0 | 1227 |
| Devon Energy Corp | A | 25179M103 | BBG000BBVJZ8 | 388500 | 11081 | SH |  | SOLE |  | 9637 | 0 | 1444 |
| Dexcom Inc | A | 252131107 | BBG000QTF8K1 | 674111 | 10018 | SH |  | SOLE |  | 5538 | 0 | 4480 |
| Walt Disney Co/The | A | 254687106 | BBG000BH4R78 | 4238676 | 37019 | SH |  | SOLE |  | 16130 | 0 | 20889 |
| Dr Reddy's Laboratories Ltd | A | 256135203 | BBG000NJ96L6 | 1299357 | 92944 | SH |  | SOLE |  | 92944 | 0 | 0 |
| Dominion Energy Inc | A | 25746U109 | BBG000BGVW60 | 702476 | 11484 | SH |  | SOLE |  | 6436 | 0 | 5048 |
| Dow Inc | A | 260557103 | BBG00BN96922 | 274495 | 11971 | SH |  | SOLE |  | 9528 | 0 | 2443 |
| eBay Inc | A | 278642103 | BBG000C43RR5 | 1458747 | 16039 | SH |  | SOLE |  | 8837 | 0 | 7202 |
| Edison International | A | 281020107 | BBG000D7RKJ5 | 806425 | 14588 | SH |  | SOLE |  | 10184 | 0 | 4404 |
| Edwards Lifesciences Corp | A | 28176E108 | BBG000BRXP69 | 1245175 | 16011 | SH |  | SOLE |  | 7768 | 0 | 8243 |
| Eversource Energy | A | 30040W108 | BBG000BQ87N0 | 752448 | 10577 | SH |  | SOLE |  | 6535 | 0 | 4042 |
| Exelon Corp | A | 30161N101 | BBG000J6XT05 | 1055620 | 23453 | SH |  | SOLE |  | 12040 | 0 | 11413 |
| Fastenal Co | A | 311900104 | BBG000BJ8YN7 | 711963 | 14518 | SH |  | SOLE |  | 10502 | 0 | 4016 |
| Fidelity National Information | A | 31620M106 | BBG000BK2F42 | 772619 | 11717 | SH |  | SOLE |  | 7139 | 0 | 4578 |
| Fiserv Inc | A | 337738108 | BBG000BJKPG0 | 1574235 | 12210 | SH |  | SOLE |  | 5557 | 0 | 6653 |
| Ford Motor Co | A | 345370860 | BBG000BQPC32 | 481103 | 40226 | SH |  | SOLE |  | 26437 | 0 | 13789 |
| Fortinet Inc | A | 34959E109 | BBG000BCMBG4 | 1251699 | 14887 | SH |  | SOLE |  | 14887 | 0 | 0 |
| Fortive Corp | A | 34959J108 | BBG00BLVZ228 | 560103 | 11433 | SH |  | SOLE |  | 6482 | 0 | 4951 |
| Franklin Resources Inc | A | 354613101 | BBG000BD0TF8 | 269696 | 11660 | SH |  | SOLE |  | 11660 | 0 | 0 |
| General Electric Co | A | 369604301 | BBG000BK6MB5 | 6029335 | 20043 | SH |  | SOLE |  | 7575 | 0 | 12468 |
| General Mills Inc | A | 370334104 | BBG000BKCFC2 | 747527 | 14826 | SH |  | SOLE |  | 8335 | 0 | 6491 |
| General Motors Co | A | 37045V100 | BBG000NDYB67 | 993750 | 16299 | SH |  | SOLE |  | 12306 | 0 | 3993 |
| Gilead Sciences Inc | A | 375558103 | BBG000CKGBP2 | 3446661 | 31051 | SH |  | SOLE |  | 16819 | 0 | 14232 |
| GSK PLC | A | 37733W204 | BBG000BLB481 | 956987 | 22173 | SH |  | SOLE |  | 22173 | 0 | 0 |
| HP Inc | A | 40434L105 | BBG000KHWT55 | 853007 | 31326 | SH |  | SOLE |  | 20669 | 0 | 10657 |
| Halliburton Co | A | 406216101 | BBG000BKTFN2 | 1219816 | 49586 | SH |  | SOLE |  | 40916 | 0 | 8670 |
| Healthpeak Properties Inc | A | 42250P103 | BBG000BKYDP9 | 454353 | 23726 | SH |  | SOLE |  | 18038 | 0 | 5688 |
| Hewlett Packard Enterprise Co | A | 42824C109 | BBG0078W3NQ3 | 1007451 | 41020 | SH |  | SOLE |  | 22930 | 0 | 18090 |
| Home Depot Inc/The | A | 437076102 | BBG000BKZB36 | 7498851 | 18507 | SH |  | SOLE |  | 7067 | 0 | 11440 |
| Hormel Foods Corp | A | 440452100 | BBG000BLF8D2 | 388764 | 15714 | SH |  | SOLE |  | 12512 | 0 | 3202 |
| Host Hotels  Resorts Inc | A | 44107P104 | BBG000BL8804 | 301731 | 17728 | SH |  | SOLE |  | 15438 | 0 | 2290 |
| Huntington Bancshares Inc/OH | A | 446150104 | BBG000BKWSR6 | 731937 | 42382 | SH |  | SOLE |  | 23009 | 0 | 19373 |
| Ingersoll Rand Inc | A | 45687V106 | BBG002R1CW27 | 965497 | 11686 | SH |  | SOLE |  | 6115 | 0 | 5571 |
| Intel Corp | A | 458140100 | BBG000C0G1D1 | 2973637 | 88633 | SH |  | SOLE |  | 38658 | 0 | 49975 |
| Intercontinental Exchange Inc | A | 45866F104 | BBG000C1FB75 | 2137674 | 12688 | SH |  | SOLE |  | 6435 | 0 | 6253 |
| IBM | A | 459200101 | BBG000BLNNH6 | 6267902 | 22214 | SH |  | SOLE |  | 11540 | 0 | 10674 |
| International Paper Co | A | 460146103 | BBG000BM5SR2 | 618605 | 13332 | SH |  | SOLE |  | 8162 | 0 | 5170 |
| Interpublic Group of Cos Inc/T | A | 460690100 | BBG000C90DH9 | 315578 | 11307 | SH |  | SOLE |  | 10434 | 0 | 873 |
| Invitation Homes Inc | A | 46187W107 | BBG00FQH6BS9 | 486937 | 16602 | SH |  | SOLE |  | 14986 | 0 | 1616 |
| iShares MSCI India ETF | A | 46429B598 | BBG002DMN3L7 | 1564143 | 30045 | SH |  | SOLE |  | 30045 | 0 | 0 |
| iShares MSCI Taiwan ETF | A | 46434G772 | BBG000CJLQ12 | 1534960 | 24127 | SH |  | SOLE |  | 24127 | 0 | 0 |
| iShares MSCI UAE ETF | A | 46434V761 | BBG006F3JCW1 | 271940 | 14396 | SH |  | SOLE |  | 14396 | 0 | 0 |
| Johnson  Johnson | A | 478160104 | BBG000BMHYD1 | 10009528 | 53983 | SH |  | SOLE |  | 26093 | 0 | 27890 |
| Kenvue Inc | A | 49177J102 | BBG01C79X561 | 810088 | 49913 | SH |  | SOLE |  | 22277 | 0 | 27636 |
| Keurig Dr Pepper Inc | A | 49271V100 | BBG000TJM7F0 | 697061 | 27325 | SH |  | SOLE |  | 14340 | 0 | 12985 |
| KeyCorp | A | 493267108 | BBG000BMQPL1 | 510349 | 27306 | SH |  | SOLE |  | 19971 | 0 | 7335 |
| Keysight Technologies Inc | A | 49338L103 | BBG0059FN811 | 2846998 | 16276 | SH |  | SOLE |  | 14251 | 0 | 2025 |
| Kimco Realty Corp | A | 49446R109 | BBG000CN3S73 | 237422 | 10866 | SH |  | SOLE |  | 10866 | 0 | 0 |
| Kinder Morgan Inc | A | 49456B101 | BBG0019JZ882 | 519941 | 18366 | SH |  | SOLE |  | 12502 | 0 | 5864 |
| Kraft Heinz Co/The | A | 500754106 | BBG005CPNTQ2 | 375861 | 14434 | SH |  | SOLE |  | 11149 | 0 | 3285 |
| Kroger Co/The | A | 501044101 | BBG000BMY992 | 1191135 | 17670 | SH |  | SOLE |  | 9987 | 0 | 7683 |
| Lam Research Corp | A | 512807306 | BBG000BNFLM9 | 6702365 | 50055 | SH |  | SOLE |  | 29500 | 0 | 20555 |
| Eli Lilly  Co | A | 532457108 | BBG000BNBDC2 | 12690216 | 16632 | SH |  | SOLE |  | 7386 | 0 | 9246 |
| Lloyds Banking Group PLC | A | 539439109 | BBG000C3VPQ1 | 47493 | 10461 | SH |  | SOLE |  | 10461 | 0 | 0 |
| Lowe's Cos Inc | A | 548661107 | BBG000BNDN65 | 3320559 | 13213 | SH |  | SOLE |  | 4966 | 0 | 8247 |
| Marsh  McLennan Cos Inc | A | 571748102 | BBG000BP4MH0 | 2107198 | 10456 | SH |  | SOLE |  | 4789 | 0 | 5667 |
| Marriott International Inc/MD | A | 571903202 | BBG000BGD7W6 | 2673417 | 10265 | SH |  | SOLE |  | 9435 | 0 | 830 |
| Marvell Technology Inc | A | 573874104 | BBG00ZXBJ153 | 980088 | 11658 | SH |  | SOLE |  | 4703 | 0 | 6955 |
| Mastercard Inc | A | 57636Q104 | BBG000F1ZSQ2 | 10594086 | 18625 | SH |  | SOLE |  | 9119 | 0 | 9506 |
| McDonald's Corp | A | 580135101 | BBG000BNSZP1 | 3601097 | 11850 | SH |  | SOLE |  | 6205 | 0 | 5645 |
| Merck  Co Inc | A | 58933Y105 | BBG000BPD168 | 4351603 | 51848 | SH |  | SOLE |  | 22943 | 0 | 28905 |
| MetLife Inc | A | 59156R108 | BBG000BB6KF5 | 2575710 | 31270 | SH |  | SOLE |  | 29177 | 0 | 2093 |
| Microsoft Corp | A | 594918104 | BBG000BPH459 | 77707521 | 150029 | SH |  | SOLE |  | 66995 | 0 | 83034 |
| Micron Technology Inc | A | 595112103 | BBG000C5Z1S3 | 3255545 | 19457 | SH |  | SOLE |  | 12274 | 0 | 7183 |
| Moderna Inc | A | 60770K107 | BBG003PHHZT1 | 271499 | 10511 | SH |  | SOLE |  | 9323 | 0 | 1188 |
| Monster Beverage Corp | A | 61174X109 | BBG008NVB1C0 | 1141308 | 16956 | SH |  | SOLE |  | 9197 | 0 | 7759 |
| Morgan Stanley | A | 617446448 | BBG000BLZRJ2 | 6274151 | 39470 | SH |  | SOLE |  | 29817 | 0 | 9653 |
| Nasdaq Inc | A | 631103108 | BBG000F5VVB6 | 1138794 | 12875 | SH |  | SOLE |  | 7017 | 0 | 5858 |
| Newmont Corp | A | 651639106 | BBG000BPWXK1 | 1801536 | 21368 | SH |  | SOLE |  | 12219 | 0 | 9149 |
| NextEra Energy Inc | A | 65339F101 | BBG000BJSBJ0 | 1515084 | 20070 | SH |  | SOLE |  | 8127 | 0 | 11943 |
| NIKE Inc | A | 654106103 | BBG000C5HS04 | 1084371 | 15551 | SH |  | SOLE |  | 11302 | 0 | 4249 |
| NiSource Inc | A | 65473P105 | BBG000BPZBB6 | 576107 | 13305 | SH |  | SOLE |  | 8587 | 0 | 4718 |
| Nokia Oyj | A | 654902204 | BBG000BNGBW9 | 542212 | 112726 | SH |  | SOLE |  | 112726 | 0 | 0 |
| Novartis AG | A | 66987V109 | BBG000LYF3S8 | 1541573 | 12021 | SH |  | SOLE |  | 12021 | 0 | 0 |
| NVIDIA Corp | A | 67066G104 | BBG000BBJQV0 | 96508132 | 517248 | SH |  | SOLE |  | 234296 | 0 | 282952 |
| O'Reilly Automotive Inc | A | 67103H107 | BBG000BGYWY6 | 2169029 | 20119 | SH |  | SOLE |  | 10124 | 0 | 9995 |
| ONEOK Inc | A | 682680103 | BBG000BQHGR6 | 970063 | 13294 | SH |  | SOLE |  | 7084 | 0 | 6210 |
| PG Corp | A | 69331C108 | BBG000BQWPC5 | 327854 | 21741 | SH |  | SOLE |  | 21741 | 0 | 0 |
| PNC Financial Services Group I | A | 693475105 | BBG000BRD0D8 | 2014524 | 10026 | SH |  | SOLE |  | 4605 | 0 | 5421 |
| PPL Corp | A | 69351T106 | BBG000BRJL00 | 374721 | 10084 | SH |  | SOLE |  | 7500 | 0 | 2584 |
| Palo Alto Networks Inc | A | 697435105 | BBG0014GJCT9 | 3132286 | 15383 | SH |  | SOLE |  | 6004 | 0 | 9379 |
| Paramount Skydance Corp | A | 69932A204 | BBG01VS5NK99 | 476046 | 25161 | SH |  | SOLE |  | 22967 | 0 | 2194 |
| PayPal Holdings Inc | A | 70450Y103 | BBG0077VNXV6 | 1432938 | 21368 | SH |  | SOLE |  | 10139 | 0 | 11229 |
| PepsiCo Inc | A | 713448108 | BBG000DH7JK6 | 3309749 | 23567 | SH |  | SOLE |  | 12746 | 0 | 10821 |
| Pfizer Inc | A | 717081103 | BBG000BR2B91 | 1811806 | 71107 | SH |  | SOLE |  | 51197 | 0 | 19910 |
| Principal Financial Group Inc | A | 74251V102 | BBG000NSCNT7 | 1688711 | 20368 | SH |  | SOLE |  | 17722 | 0 | 2646 |
| Procter  Gamble Co/The | A | 742718109 | BBG000BR2TH3 | 8311082 | 54091 | SH |  | SOLE |  | 27217 | 0 | 26874 |
| Progressive Corp/The | A | 743315103 | BBG000BR37X2 | 3383709 | 13702 | SH |  | SOLE |  | 5265 | 0 | 8437 |
| Prologis Inc | A | 74340W103 | BBG000B9Z0J8 | 2251921 | 19664 | SH |  | SOLE |  | 9013 | 0 | 10651 |
| QUALCOMM Inc | A | 747525103 | BBG000CGC1X8 | 2028594 | 12194 | SH |  | SOLE |  | 4175 | 0 | 8019 |
| Raymond James Financial Inc | A | 754730109 | BBG000BS73J1 | 2730705 | 15821 | SH |  | SOLE |  | 14238 | 0 | 1583 |
| Realty Income Corp | A | 756109104 | BBG000DHPN63 | 1274158 | 20960 | SH |  | SOLE |  | 20960 | 0 | 0 |
| Regions Financial Corp | A | 7591EP100 | BBG000Q3JN03 | 852832 | 32341 | SH |  | SOLE |  | 21774 | 0 | 10567 |
| Salesforce Inc | A | 79466L302 | BBG000BN2DC2 | 5967660 | 25180 | SH |  | SOLE |  | 14109 | 0 | 11071 |
| Sanofi SA | A | 80105N105 | BBG000BBD5N1 | 639890 | 13557 | SH |  | SOLE |  | 13557 | 0 | 0 |
| SLB Ltd | A | 806857108 | BBG000BT41Q8 | 975936 | 28395 | SH |  | SOLE |  | 17012 | 0 | 11383 |
| Charles Schwab Corp/The | A | 808513105 | BBG000BSLZY7 | 3232519 | 33859 | SH |  | SOLE |  | 16099 | 0 | 17760 |
| Sempra | A | 816851109 | BBG000C2ZCH8 | 1443549 | 16043 | SH |  | SOLE |  | 8785 | 0 | 7258 |
| State Street Corp | A | 857477103 | BBG000BKFBD7 | 1192699 | 10281 | SH |  | SOLE |  | 7270 | 0 | 3011 |
| Sun Life Financial Inc | A | 866796105 | BBG000LS68P3 | 2060836 | 24660 | SH |  | SOLE |  | 24660 | 0 | 0 |
| Synchrony Financial | A | 87165B103 | BBG00658F3P3 | 769187 | 10826 | SH |  | SOLE |  | 6692 | 0 | 4134 |
| Sysco Corp | A | 871829107 | BBG000BTVJ25 | 1171781 | 14231 | SH |  | SOLE |  | 8611 | 0 | 5620 |
| TJX Cos Inc/The | A | 872540109 | BBG000BV8DN6 | 2587266 | 17900 | SH |  | SOLE |  | 8918 | 0 | 8982 |
| Target Corp | A | 87612E106 | BBG000H8TVT2 | 1307467 | 14576 | SH |  | SOLE |  | 9413 | 0 | 5163 |
| Telefonica Brasil SA | A | 87936R205 | BBG00Y6FQHK7 | 890906 | 69875 | SH |  | SOLE |  | 69875 | 0 | 0 |
| Tesla Inc | A | 88160R101 | BBG000N9MNX3 | 22495716 | 50584 | SH |  | SOLE |  | 17930 | 0 | 32654 |
| Teva Pharmaceutical Industries | A | 881624209 | BBG000C0CD58 | 448642 | 22210 | SH |  | SOLE |  | 22210 | 0 | 0 |
| Texas Instruments Inc | A | 882508104 | BBG000BVV7G1 | 3958830 | 21547 | SH |  | SOLE |  | 7852 | 0 | 13695 |
| 3M Co | A | 88579Y101 | BBG000BP52R2 | 1559559 | 10050 | SH |  | SOLE |  | 5691 | 0 | 4359 |
| Tractor Supply Co | A | 892356106 | BBG000BLXZN1 | 1191427 | 20950 | SH |  | SOLE |  | 13492 | 0 | 7458 |
| Truist Financial Corp | A | 89832Q109 | BBG000BYYLS8 | 1329035 | 29069 | SH |  | SOLE |  | 13803 | 0 | 15266 |
| US Bancorp | A | 902973304 | BBG000FFDM15 | 1875832 | 38813 | SH |  | SOLE |  | 17597 | 0 | 21216 |
| Uber Technologies Inc | A | 90353T100 | BBG002B04MT8 | 1730346 | 17662 | SH |  | SOLE |  | 17662 | 0 | 0 |
| Union Pacific Corp | A | 907818108 | BBG000BW3299 | 3065483 | 12969 | SH |  | SOLE |  | 6003 | 0 | 6966 |
| United Airlines Holdings Inc | A | 910047109 | BBG000M65M61 | 1775986 | 18404 | SH |  | SOLE |  | 18404 | 0 | 0 |
| United Parcel Service Inc | A | 911312106 | BBG000L9CV04 | 1585901 | 18986 | SH |  | SOLE |  | 10632 | 0 | 8354 |
| Verizon Communications Inc | A | 92343V104 | BBG000HS77T5 | 3892388 | 88564 | SH |  | SOLE |  | 40221 | 0 | 48343 |
| Viatris Inc | A | 92556V106 | BBG00Y4RQNH4 | 267874 | 27058 | SH |  | SOLE |  | 27058 | 0 | 0 |
| VICI Properties Inc | A | 925652109 | BBG00HVVB499 | 420473 | 12894 | SH |  | SOLE |  | 9172 | 0 | 3722 |
| Visa Inc | A | 92826C839 | BBG000PSKYX7 | 13202189 | 38673 | SH |  | SOLE |  | 18750 | 0 | 19923 |
| Warner Bros Discovery Inc | A | 934423104 | BBG011386VF4 | 1658702 | 84931 | SH |  | SOLE |  | 84931 | 0 | 0 |
| Welltower Inc | A | 95040Q104 | BBG000BKY1G5 | 3520046 | 19760 | SH |  | SOLE |  | 12697 | 0 | 7063 |
| Western Digital Corp | A | 958102105 | BBG000BWNFZ9 | 1225092 | 10204 | SH |  | SOLE |  | 6433 | 0 | 3771 |
| Weyerhaeuser Co | A | 962166104 | BBG000BX3BL3 | 615313 | 24821 | SH |  | SOLE |  | 13660 | 0 | 11161 |
| Williams Cos Inc/The | A | 969457100 | BBG000BWVCP8 | 1470227 | 23208 | SH |  | SOLE |  | 13531 | 0 | 9677 |
| Wipro Ltd | A | 97651M109 | BBG000BDFT17 | 812412 | 308902 | SH |  | SOLE |  | 308902 | 0 | 0 |
| Yum! Brands Inc | A | 988498101 | BBG000BH3GZ2 | 1584448 | 10424 | SH |  | SOLE |  | 8218 | 0 | 2206 |
| Zoetis Inc | A | 98978V103 | BBG0039320N9 | 1990684 | 13605 | SH |  | SOLE |  | 8343 | 0 | 5262 |

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