# EDGAR Filing Document

**Accession Number:** 0001356783
**File Stem:** 0001754960-26-000096
**Filing Date:** 2026-1
**Character Count:** 18244
**Document Hash:** 2477101890611d698ae23d16cce818fe
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001754960-26-000096.hdr.sgml**: 20260121

**ACCESSION NUMBER**: 0001754960-26-000096

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260121

**DATE AS OF CHANGE**: 20260120

**EFFECTIVENESS DATE**: 20260121

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Phocas Financial Corp.
- **CENTRAL INDEX KEY:** 0001356783

**ORGANIZATION NAME:**
- **EIN:** 202647024
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-12179
- **FILM NUMBER:** 26544508

**BUSINESS ADDRESS:**
- **STREET 1:** 1080 MARINA VILLAGE PARKWAY
- **STREET 2:** SUITE 520
- **CITY:** ALAMEDA
- **STATE:** CA
- **ZIP:** 94501
- **BUSINESS PHONE:** (510) 523-5800

**MAIL ADDRESS:**
- **STREET 1:** 1080 MARINA VILLAGE PARKWAY
- **STREET 2:** SUITE 520
- **CITY:** ALAMEDA
- **STATE:** CA
- **ZIP:** 94501

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Phocas Financial CORP
- **DATE OF NAME CHANGE:** 20060320

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**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:** Phocas Financial Corp.<br>**Address:** 1080 MARINA VILLAGE PARKWAY<br>SUITE 520<br>ALAMEDA, CA 94501

**Form 13F File Number:** 028-12179

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:** Aryn Sands<br>**Title:** Agent<br>**Phone:** 844-844-3453

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

Aryn Sands  Reno, NV  01-20-2026<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:** 144

**Form 13F Information Table Value Total:** $752110646

      (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 |
| EATON CORP PLC | SHS | G29183103 |  | 1302706 | 4090 | SH |  | SOLE |  | 4090 | 0 | 0 |
| WHITE MTNS INS GROUP LTD | COM | G9618E107 |  | 11410463 | 5491 | SH |  | SOLE |  | 709 | 0 | 4782 |
| AAR CORP | COM | 000361105 |  | 10736952 | 129689 | SH |  | SOLE |  | 16600 | 0 | 113089 |
| ADT INC DEL | COM | 00090Q103 |  | 6561967 | 813131 | SH |  | SOLE |  | 104691 | 0 | 708440 |
| ABBVIE INC | COM | 00287Y109 |  | 5995349 | 26239 | SH |  | SOLE |  | 26239 | 0 | 0 |
| ACADIA PHARMACEUTICALS INC | COM | 004225108 |  | 2779763 | 104072 | SH |  | SOLE |  | 13398 | 0 | 90674 |
| ADTALEM GLOBAL ED INC | COM | 00737L103 |  | 13050878 | 126132 | SH |  | SOLE |  | 16251 | 0 | 109881 |
| ADVANCE AUTO PARTS INC | COM | 00751Y106 |  | 2738896 | 69692 | SH |  | SOLE |  | 8984 | 0 | 60708 |
| AGREE RLTY CORP | COM | 008492100 |  | 7270132 | 100932 | SH |  | SOLE |  | 13010 | 0 | 87922 |
| ALERUS FINL CORP | COM | 01446U103 |  | 7529720 | 334357 | SH |  | SOLE |  | 43049 | 0 | 291308 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 690360 | 2200 | SH |  | SOLE |  | 2200 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 2749392 | 8784 | SH |  | SOLE |  | 8784 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 565509 | 2450 | SH |  | SOLE |  | 2450 | 0 | 0 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 269500 | 1535 | SH |  | SOLE |  | 1535 | 0 | 0 |
| AMERIS BANCORP | COM | 03076K108 |  | 12977420 | 174733 | SH |  | SOLE |  | 22422 | 0 | 152311 |
| AMNEAL PHARMACEUTICALS INC | COM STK CL A | 03168L105 |  | 16165472 | 1282974 | SH |  | SOLE |  | 165727 | 0 | 1117247 |
| ANGIODYNAMICS INC | COM | 03475V101 |  | 7784545 | 606273 | SH |  | SOLE |  | 78072 | 0 | 528201 |
| ANTERO MIDSTREAM CORP | COM | 03676B102 |  | 6506568 | 365743 | SH |  | SOLE |  | 49031 | 0 | 316712 |
| APPLE INC | COM | 037833100 |  | 2448915 | 9008 | SH |  | SOLE |  | 9008 | 0 | 0 |
| ARCUTIS BIOTHERAPEUTICS INC | COM | 03969K108 |  | 1873051 | 64499 | SH |  | SOLE |  | 8313 | 0 | 56186 |
| ARTISAN PARTNERS ASSET MGMT | CL A | 04316A108 |  | 4751751 | 116636 | SH |  | SOLE |  | 15000 | 0 | 101636 |
| ATLANTIC UN BANKSHARES CORP | COM | 04911A107 |  | 3738164 | 105897 | SH |  | SOLE |  | 13651 | 0 | 92246 |
| AVIENT CORPORATION | COM | 05368V106 |  | 1683117 | 53877 | SH |  | SOLE |  | 6952 | 0 | 46925 |
| BANK AMERICA CORP | COM | 060505104 |  | 255200 | 4640 | SH |  | SOLE |  | 4640 | 0 | 0 |
| BANNER CORP | COM NEW | 06652V208 |  | 7105707 | 113401 | SH |  | SOLE |  | 14573 | 0 | 98828 |
| BEL FUSE INC | CL B | 077347300 |  | 3916926 | 23091 | SH |  | SOLE |  | 2972 | 0 | 20119 |
| BELDEN INC | COM | 077454106 |  | 5266312 | 45185 | SH |  | SOLE |  | 5818 | 0 | 39367 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 1162127 | 2312 | SH |  | SOLE |  | 2312 | 0 | 0 |
| BGC GROUP INC | CL A | 088929104 |  | 6276174 | 702819 | SH |  | SOLE |  | 90531 | 0 | 612288 |
| BLACK HILLS CORP | COM | 092113109 |  | 10693526 | 154041 | SH |  | SOLE |  | 18631 | 0 | 135410 |
| BOOT BARN HLDGS INC | COM | 099406100 |  | 3676929 | 20836 | SH |  | SOLE |  | 2948 | 0 | 17888 |
| BROADCOM INC | COM | 11135F101 |  | 311490 | 900 | SH |  | SOLE |  | 900 | 0 | 0 |
| THE CIGNA GROUP | COM | 125523100 |  | 333028 | 1210 | SH |  | SOLE |  | 1210 | 0 | 0 |
| CAL MAINE FOODS INC | COM NEW | 128030202 |  | 5130037 | 64472 | SH |  | SOLE |  | 8303 | 0 | 56169 |
| CALIFORNIA RES CORP | COM STOCK | 13057Q305 |  | 1408454 | 31502 | SH |  | SOLE |  | 3814 | 0 | 27688 |
| CARPENTER TECHNOLOGY CORP | COM | 144285103 |  | 7287601 | 23147 | SH |  | SOLE |  | 2982 | 0 | 20165 |
| CENTERSPACE | COM | 15202L107 |  | 8273213 | 123999 | SH |  | SOLE |  | 18576 | 0 | 105423 |
| CHESAPEAKE UTILS CORP | COM | 165303108 |  | 3313501 | 26559 | SH |  | SOLE |  | 3422 | 0 | 23137 |
| CLEVELAND-CLIFFS INC NEW | COM | 185899101 |  | 6306167 | 474862 | SH |  | SOLE |  | 61260 | 0 | 413602 |
| COASTAL FINL CORP WA | COM NEW | 19046P209 |  | 3947969 | 34453 | SH |  | SOLE |  | 4427 | 0 | 30026 |
| COLUMBIA BKG SYS INC | COM | 197236102 |  | 13316945 | 476456 | SH |  | SOLE |  | 61408 | 0 | 415048 |
| COMMERCIAL BANCGROUP INC | COM | 20112C106 |  | 3607103 | 146869 | SH |  | SOLE |  | 18914 | 0 | 127955 |
| COMMUNITY HEALTHCARE TR INC | COM | 20369C106 |  | 6549823 | 398893 | SH |  | SOLE |  | 54895 | 0 | 343998 |
| COMSTOCK RES INC | COM | 205768302 |  | 1261618 | 54427 | SH |  | SOLE |  | 0 | 0 | 54427 |
| CONCENTRA GROUP HOLDINGS PAR | COMMON STOCK | 20603L102 |  | 3745655 | 190328 | SH |  | SOLE |  | 25505 | 0 | 164823 |
| CORMEDIX INC | COM | 21900C308 |  | 1989742 | 171087 | SH |  | SOLE |  | 21146 | 0 | 149941 |
| QUIDELORTHO CORP | COM | 219798105 |  | 4855714 | 170018 | SH |  | SOLE |  | 22790 | 0 | 147228 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 522578 | 606 | SH |  | SOLE |  | 606 | 0 | 0 |
| COUSINS PPTYS INC | COM NEW | 222795502 |  | 2994476 | 116155 | SH |  | SOLE |  | 14988 | 0 | 101167 |
| DOVER CORP | COM | 260003108 |  | 705793 | 3615 | SH |  | SOLE |  | 3615 | 0 | 0 |
| DUCOMMUN INC DEL | COM | 264147109 |  | 10924158 | 114834 | SH |  | SOLE |  | 14796 | 0 | 100038 |
| ELANCO ANIMAL HEALTH INC | COM | 28414H103 |  | 4135746 | 182755 | SH |  | SOLE |  | 23809 | 0 | 158946 |
| ENPRO INC | COM | 29355X107 |  | 6689421 | 31240 | SH |  | SOLE |  | 4017 | 0 | 27223 |
| ENTERPRISE FINL SVCS CORP | COM | 293712105 |  | 7209270 | 133505 | SH |  | SOLE |  | 17218 | 0 | 116287 |
| EQUINIX INC | COM | 29444U700 |  | 328683 | 429 | SH |  | SOLE |  | 429 | 0 | 0 |
| F N B CORP | COM | 302520101 |  | 10703574 | 625940 | SH |  | SOLE |  | 80415 | 0 | 545525 |
| FEDERAL RLTY INVT TR NEW | SH BEN INT NEW | 313745101 |  | 236779 | 2349 | SH |  | SOLE |  | 2349 | 0 | 0 |
| FIRST FINL BANKSHARES INC | COM | 32020R109 |  | 3515281 | 117686 | SH |  | SOLE |  | 15148 | 0 | 102538 |
| FIRST MERCHANTS CORP | COM | 320817109 |  | 10175108 | 271481 | SH |  | SOLE |  | 35017 | 0 | 236464 |
| FULLER H B CO | COM | 359694106 |  | 3855327 | 64839 | SH |  | SOLE |  | 8368 | 0 | 56471 |
| G III APPAREL GROUP LTD | COM | 36237H101 |  | 7077998 | 244406 | SH |  | SOLE |  | 30953 | 0 | 213453 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 |  | 595217 | 2300 | SH |  | SOLE |  | 2300 | 0 | 0 |
| GIBRALTAR INDS INC | COM | 374689107 |  | 2766168 | 55950 | SH |  | SOLE |  | 7208 | 0 | 48742 |
| GOOSEHEAD INS INC | COM CL A | 38267D109 |  | 3668654 | 49812 | SH |  | SOLE |  | 6419 | 0 | 43393 |
| GRIFFON CORP | COM | 398433102 |  | 3528277 | 47906 | SH |  | SOLE |  | 6184 | 0 | 41722 |
| HECLA MNG CO | COM | 422704106 |  | 11971528 | 623842 | SH |  | SOLE |  | 82721 | 0 | 541121 |
| HERC HLDGS INC | COM | 42704L104 |  | 7399562 | 49869 | SH |  | SOLE |  | 6436 | 0 | 43433 |
| CRESCENT ENERGY COMPANY | CL A COM | 44952J104 |  | 2488617 | 296617 | SH |  | SOLE |  | 35913 | 0 | 260704 |
| IDACORP INC | COM | 451107106 |  | 7171143 | 56662 | SH |  | SOLE |  | 7406 | 0 | 49256 |
| INDEPENDENCE RLTY TR INC | COM | 45378A106 |  | 6299075 | 360359 | SH |  | SOLE |  | 51398 | 0 | 308961 |
| INVESCO EXCHANGE TRADED FD T | S SPIN OFF | 46137V159 |  | 738006 | 7400 | SH |  | SOLE |  | 7400 | 0 | 0 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 278765 | 2791 | SH |  | SOLE |  | 2791 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 338026 | 3520 | SH |  | SOLE |  | 3520 | 0 | 0 |
| ISHARES TR | U.S. REAL ES ETF | 464287739 |  | 220642 | 2350 | SH |  | SOLE |  | 2350 | 0 | 0 |
| J  J SNACK FOODS CORP | COM | 466032109 |  | 3647152 | 40358 | SH |  | SOLE |  | 5214 | 0 | 35144 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 274210 | 851 | SH |  | SOLE |  | 851 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 1177339 | 5689 | SH |  | SOLE |  | 5689 | 0 | 0 |
| KITE RLTY GROUP TR | COM NEW | 49803T300 |  | 6597479 | 275239 | SH |  | SOLE |  | 35519 | 0 | 239720 |
| KNOWLES CORP | COM | 49926D109 |  | 941356 | 43927 | SH |  | SOLE |  | 5671 | 0 | 38256 |
| KONTOOR BRANDS INC | COM | 50050N103 |  | 6382622 | 104479 | SH |  | SOLE |  | 13488 | 0 | 90991 |
| KYNDRYL HLDGS INC | COMMON STOCK | 50155Q100 |  | 3745571 | 141023 | SH |  | SOLE |  | 18158 | 0 | 122865 |
| LSI INDS INC OHIO | COM | 50216C108 |  | 4026351 | 219779 | SH |  | SOLE |  | 29998 | 0 | 189781 |
| LA Z BOY INC | COM | 505336107 |  | 4020874 | 107885 | SH |  | SOLE |  | 13831 | 0 | 94054 |
| LADDER CAP CORP | CL A | 505743104 |  | 5217162 | 474719 | SH |  | SOLE |  | 61608 | 0 | 413111 |
| MDU RES GROUP INC | COM | 552690109 |  | 4102128 | 210150 | SH |  | SOLE |  | 27100 | 0 | 183050 |
| M/I HOMES INC | COM | 55305B101 |  | 3260678 | 25484 | SH |  | SOLE |  | 3288 | 0 | 22196 |
| MKS INC. | COM | 55306N104 |  | 11723727 | 73365 | SH |  | SOLE |  | 9448 | 0 | 63917 |
| MACERICH CO | COM | 554382101 |  | 3733000 | 202221 | SH |  | SOLE |  | 26078 | 0 | 176143 |
| MAGNOLIA OIL  GAS CORP | CL A | 559663109 |  | 5829285 | 266299 | SH |  | SOLE |  | 41921 | 0 | 224378 |
| MATERION CORP | COM | 576690101 |  | 7748368 | 62326 | SH |  | SOLE |  | 8040 | 0 | 54286 |
| PEDIATRIX MEDICAL GROUP INC | COM | 58502B106 |  | 7177436 | 335551 | SH |  | SOLE |  | 43266 | 0 | 292285 |
| PATHWARD FINANCIAL INC | COM | 59100U108 |  | 11811063 | 166353 | SH |  | SOLE |  | 21391 | 0 | 144962 |
| MICROSOFT CORP | COM | 594918104 |  | 1973170 | 4080 | SH |  | SOLE |  | 4080 | 0 | 0 |
| MIMEDX GROUP INC | COM | 602496101 |  | 3337549 | 492991 | SH |  | SOLE |  | 66108 | 0 | 426883 |
| NATIONAL FUEL GAS CO | COM | 636180101 |  | 7086191 | 88511 | SH |  | SOLE |  | 10703 | 0 | 77808 |
| NATURAL GAS SVCS GROUP INC | COM | 63886Q109 |  | 1470101 | 43688 | SH |  | SOLE |  | 5649 | 0 | 38039 |
| NEXSTAR MEDIA GROUP INC | COMMON STOCK | 65336K103 |  | 15470989 | 76193 | SH |  | SOLE |  | 10013 | 0 | 66180 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 2494438 | 13375 | SH |  | SOLE |  | 13375 | 0 | 0 |
| CHORD ENERGY CORPORATION | COM NEW | 674215207 |  | 6688583 | 72153 | SH |  | SOLE |  | 10135 | 0 | 62018 |
| OLD NATL BANCORP IND | COM | 680033107 |  | 8253004 | 369924 | SH |  | SOLE |  | 47564 | 0 | 322360 |
| ONEMAIN HLDGS INC | COM | 68268W103 |  | 9031975 | 133708 | SH |  | SOLE |  | 17440 | 0 | 116268 |
| OPTION CARE HEALTH INC | COM NEW | 68404L201 |  | 4163051 | 130667 | SH |  | SOLE |  | 16843 | 0 | 113824 |
| OTTER TAIL CORP | COM | 689648103 |  | 7893359 | 97678 | SH |  | SOLE |  | 12474 | 0 | 85204 |
| PBF ENERGY INC | CL A | 69318G106 |  | 258264 | 9523 | SH |  | SOLE |  | 1573 | 0 | 7950 |
| TXNM ENERGY INC | COM | 69349H107 |  | 7581271 | 128758 | SH |  | SOLE |  | 19619 | 0 | 109139 |
| PTC THERAPEUTICS INC | COM | 69366J200 |  | 1935613 | 25482 | SH |  | SOLE |  | 3281 | 0 | 22201 |
| PACIRA BIOSCIENCES INC | COM | 695127100 |  | 3792326 | 146535 | SH |  | SOLE |  | 18878 | 0 | 127657 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 215514 | 1170 | SH |  | SOLE |  | 1170 | 0 | 0 |
| PENGUIN SOLUTIONS INC | COM | 706915105 |  | 5781603 | 295583 | SH |  | SOLE |  | 38087 | 0 | 257496 |
| PERIMETER SOLUTIONS INC | COMMON STOCK | 71385M107 |  | 4569622 | 165987 | SH |  | SOLE |  | 21385 | 0 | 144602 |
| PREFERRED BK LOS ANGELES CA | COM NEW | 740367404 |  | 12264380 | 129878 | SH |  | SOLE |  | 16630 | 0 | 113248 |
| PRIMORIS SVCS CORP | COM | 74164F103 |  | 7756019 | 62478 | SH |  | SOLE |  | 8065 | 0 | 54413 |
| PROLOGIS INC. | COM | 74340W103 |  | 363065 | 2844 | SH |  | SOLE |  | 2844 | 0 | 0 |
| QUANTA SVCS INC | COM | 74762E102 |  | 206809 | 490 | SH |  | SOLE |  | 490 | 0 | 0 |
| REV GROUP INC | COM | 749527107 |  | 7883348 | 129639 | SH |  | SOLE |  | 16711 | 0 | 112928 |
| RALLIANT CORP | COM | 750940108 |  | 7998776 | 157116 | SH |  | SOLE |  | 19930 | 0 | 137186 |
| RANGE RES CORP | COM | 75281A109 |  | 4483908 | 127167 | SH |  | SOLE |  | 15378 | 0 | 111789 |
| RYDER SYS INC | COM | 783549108 |  | 8601067 | 44940 | SH |  | SOLE |  | 5792 | 0 | 39148 |
| RYMAN HOSPITALITY PPTYS INC | COM | 78377T107 |  | 8153216 | 86168 | SH |  | SOLE |  | 12752 | 0 | 73416 |
| SL GREEN RLTY CORP | COM | 78440X887 |  | 4923319 | 107332 | SH |  | SOLE |  | 15744 | 0 | 91588 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 235262 | 345 | SH |  | SOLE |  | 345 | 0 | 0 |
| SANMINA CORPORATION | COM | 801056102 |  | 11157104 | 74346 | SH |  | SOLE |  | 9596 | 0 | 64750 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 955218 | 36417 | SH |  | SOLE |  | 36417 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 2721247 | 101124 | SH |  | SOLE |  | 101124 | 0 | 0 |
| SCHWAB STRATEGIC TR | US REIT ETF | 808524847 |  | 342826 | 16411 | SH |  | SOLE |  | 16411 | 0 | 0 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 |  | 435934 | 2355 | SH |  | SOLE |  | 2355 | 0 | 0 |
| SKYWEST INC | COM | 830879102 |  | 14042941 | 139856 | SH |  | SOLE |  | 18042 | 0 | 121814 |
| SONIC AUTOMOTIVE INC | CL A | 83545G102 |  | 6943538 | 112246 | SH |  | SOLE |  | 14470 | 0 | 97776 |
| SOTERA HEALTH CO | COM | 83601L102 |  | 4888732 | 277139 | SH |  | SOLE |  | 35749 | 0 | 241390 |
| SPIRE INC | COM | 84857L101 |  | 3796178 | 45903 | SH |  | SOLE |  | 5963 | 0 | 39940 |
| STONEX GROUP INC | COM | 861896108 |  | 12956896 | 136202 | SH |  | SOLE |  | 17544 | 0 | 118658 |
| TRI POINTE HOMES INC | COM | 87265H109 |  | 6633813 | 210798 | SH |  | SOLE |  | 26994 | 0 | 183804 |
| TTM TECHNOLOGIES INC | COM | 87305R109 |  | 11409633 | 165357 | SH |  | SOLE |  | 21268 | 0 | 144089 |
| TERRENO RLTY CORP | COM | 88146M101 |  | 10594337 | 180452 | SH |  | SOLE |  | 23240 | 0 | 157212 |
| TEXAS CAP BANCSHARES INC | COM | 88224Q107 |  | 10143649 | 112035 | SH |  | SOLE |  | 14392 | 0 | 97643 |
| TIMKEN CO | COM | 887389104 |  | 7484794 | 88967 | SH |  | SOLE |  | 11483 | 0 | 77484 |
| TREEHOUSE FOODS INC | COM | 89469A104 |  | 3531848 | 149718 | SH |  | SOLE |  | 19333 | 0 | 130385 |
| UMB FINL CORP | COM | 902788108 |  | 4993196 | 43404 | SH |  | SOLE |  | 5579 | 0 | 37825 |
| UNILEVER PLC | SPON ADR NEW | 904767803 |  | 348778 | 5333 | SH |  | SOLE |  | 5333 | 0 | 0 |
| URBAN OUTFITTERS INC | COM | 917047102 |  | 4899426 | 65100 | SH |  | SOLE |  | 8404 | 0 | 56696 |
| VERACYTE INC | COM | 92337F107 |  | 2114725 | 50231 | SH |  | SOLE |  | 6473 | 0 | 43758 |
| VERRA MOBILITY CORP | CL A COM STK | 92511U102 |  | 6311059 | 281618 | SH |  | SOLE |  | 36300 | 0 | 245318 |
| VIAVI SOLUTIONS INC | COM | 925550105 |  | 3771995 | 211672 | SH |  | SOLE |  | 27303 | 0 | 184369 |
| WINTRUST FINL CORP | COM | 97650W108 |  | 17241763 | 123314 | SH |  | SOLE |  | 15890 | 0 | 107424 |

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