# EDGAR Filing Document

**Accession Number:** 0001085936
**File Stem:** 0001085936-23-000022
**Filing Date:** 2023-2
**Character Count:** 44716
**Document Hash:** c6ce4b2290548dcca363c7faf8f91035
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001085936-23-000022.hdr.sgml**: 20230215

**ACCESSION NUMBER**: 0001085936-23-000022

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230215

**DATE AS OF CHANGE**: 20230215

**EFFECTIVENESS DATE**: 20230215

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SYSTEMATIC FINANCIAL MANAGEMENT LP
- **CENTRAL INDEX KEY:** 0001085936
- **IRS NUMBER:** 223367558
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-05015
- **FILM NUMBER:** 23634069

**BUSINESS ADDRESS:**
- **STREET 1:** C/O GLENPOINTE EAST 7TH FLOOR
- **STREET 2:** 300 FRANK W BURR BOULEVARD
- **CITY:** TEANECK
- **STATE:** NJ
- **ZIP:** 07666
- **BUSINESS PHONE:** 2019281982

**MAIL ADDRESS:**
- **STREET 1:** C/O GLENPOINTE EAST 7TH FLOOR
- **STREET 2:** 300 FRANK W BURR BLVD
- **CITY:** TEANECK
- **STATE:** NJ
- **ZIP:** 07666

### 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:** SYSTEMATIC FINANCIAL MANAGEMENT LP<br>**Address:** C/O GLENPOINTE EAST 7TH FLOOR<br>300 FRANK W BURR BLVD<br>TEANECK, NJ 07666

**Form 13F File Number:** 028-05015

**CRD Number (if applicable):** 000106146

**SEC File Number (if applicable):** 801-48908

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:** Karen E. Kohler<br>**Title:** Chief Operating Officer/ CCO<br>**Phone:** 201-928-1982

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

Karen E. Kohler  Teaneck, X1  02-15-2023<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:** 2

**Form 13F Information Table Entry Total:** 394

**Form 13F Information Table Value Total:** $3052409387

      (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.]

| No.   | Name                           | Form 13F File Number   |
|:---|:---|:---|
|  | AFFILIATED MANAGERS GROUP INC. | 028-04975              |
|  | MORGAN STANLEY                 | 028-03432              |

### 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 |
| Abbott Laboratories | COM | 002824100 |  | 373286 | 3400 | SH |  | DFND | 1 | 3400 | 0 | 0 |
| AbbVie Inc. | COM | 00287Y109 |  | 1502973 | 9300 | SH |  | DFND | 1 | 9300 | 0 | 0 |
| Abercrombie  Fitch Co. | COM | 002896207 |  | 11538965 | 503665 | SH |  | DFND | 1 | 281655 | 0 | 222010 |
| Abercrombie  Fitch Co. | COM | 002896207 |  | 232055 | 10129 | SH |  | OTR | 2 | 9909 | 0 | 220 |
| Academy Sports and Outdoors In | COM | 00402L107 |  | 13198836 | 251215 | SH |  | DFND | 1 | 143045 | 0 | 108170 |
| Academy Sports and Outdoors In | COM | 00402L107 |  | 324223 | 6171 | SH |  | OTR | 2 | 6033 | 0 | 138 |
| Acuity Brands Inc. | CL A NEW | 00508Y102 |  | 8443957 | 50987 | SH |  | DFND | 1 | 26427 | 0 | 24560 |
| Acuity Brands Inc. | CL A NEW | 00508Y102 |  | 304556 | 1839 | SH |  | OTR | 2 | 1791 | 0 | 48 |
| Adeia Inc. | COM | 00676P107 |  | 4086 | 431 | SH |  | DFND | 1 | 431 | 0 | 0 |
| Advanced Micro Devices | COM | 007903107 |  | 479946 | 7410 | SH |  | DFND | 1 | 7410 | 0 | 0 |
| Aerojet Rocketdyne Holdings In | COM | 007800105 |  | 1241646 | 22200 | SH |  | DFND | 1 | 19205 | 0 | 2995 |
| Aerojet Rocketdyne Holdings In | COM | 007800105 |  | 269302 | 4815 | SH |  | OTR | 2 | 4709 | 0 | 106 |
| Alexandria Real Estate Equitie | COM | 015271109 |  | 1549200 | 10635 | SH |  | DFND | 1 | 9285 | 0 | 1350 |
| Allegion PLC | ORD SHS | G0176J109 |  | 175363 | 1666 | SH |  | DFND | 1 | 1666 | 0 | 0 |
| Allison Transmission Hldgs | COM | 01973R101 |  | 12272 | 295 | SH |  | DFND | 1 | 295 | 0 | 0 |
| Altra Industrial Motion Corp. | COM | 02208R106 |  | 3518080 | 58880 | SH |  | DFND | 1 | 34580 | 0 | 24300 |
| Amdocs Ltd. | SHS | G02602103 |  | 2704002 | 29747 | SH |  | DFND | 1 | 25662 | 0 | 4085 |
| American Eagle Outfitters Inc. | COM | 02553E106 |  | 19638928 | 1406800 | SH |  | DFND | 1 | 758890 | 0 | 647910 |
| American Eagle Outfitters Inc. | COM | 02553E106 |  | 544118 | 38977 | SH |  | OTR | 2 | 38134 | 0 | 843 |
| American Public Education Inc. | COM | 02913V103 |  | 12262434 | 997757 | SH |  | DFND | 1 | 542522 | 0 | 455235 |
| American Public Education Inc. | COM | 02913V103 |  | 226172 | 18403 | SH |  | OTR | 2 | 18051 | 0 | 352 |
| American Woodmark Corp. | COM | 030506109 |  | 17202971 | 352087 | SH |  | DFND | 1 | 196107 | 0 | 155980 |
| American Woodmark Corp. | COM | 030506109 |  | 334788 | 6852 | SH |  | OTR | 2 | 6706 | 0 | 146 |
| AMN Healthcare Services Inc. | COM | 001744101 |  | 18210245 | 177108 | SH |  | DFND | 1 | 94458 | 0 | 82650 |
| AMN Healthcare Services Inc. | COM | 001744101 |  | 393080 | 3823 | SH |  | OTR | 2 | 3738 | 0 | 85 |
| AngioDynamics Inc | COM | 03475V101 |  | 17257046 | 1253235 | SH |  | DFND | 1 | 707135 | 0 | 546100 |
| AngioDynamics Inc | COM | 03475V101 |  | 260610 | 18926 | SH |  | OTR | 2 | 18473 | 0 | 453 |
| Apple Hospitality REIT Inc. | COM NEW | 03784Y200 |  | 26063952 | 1651708 | SH |  | DFND | 1 | 882108 | 0 | 769600 |
| Apple Hospitality REIT Inc. | COM NEW | 03784Y200 |  | 554855 | 35162 | SH |  | OTR | 2 | 34406 | 0 | 756 |
| Apple Inc. | COM | 037833100 |  | 1716375 | 13210 | SH |  | DFND | 1 | 13210 | 0 | 0 |
| Applied Materials Inc. | COM | 038222105 |  | 339759 | 3489 | SH |  | DFND | 1 | 3489 | 0 | 0 |
| Aptiv PLC | SHS | G6095L109 |  | 266072 | 2857 | SH |  | DFND | 1 | 2857 | 0 | 0 |
| Arch Capital Group Ltd. | ORD | G0450A105 |  | 395514 | 6300 | SH |  | DFND | 1 | 6300 | 0 | 0 |
| ASGN Incorporated | COM | 00191U102 |  | 19946385 | 244801 | SH |  | DFND | 1 | 132631 | 0 | 112170 |
| ASGN Incorporated | COM | 00191U102 |  | 471849 | 5791 | SH |  | OTR | 2 | 5654 | 0 | 137 |
| Assurant Inc | COM | 04621X108 |  | 1526983 | 12210 | SH |  | DFND | 1 | 10460 | 0 | 1750 |
| Atlantic Union Bankshares Corp | COM | 04911A107 |  | 8187233 | 232989 | SH |  | DFND | 1 | 119989 | 0 | 113000 |
| Atlantic Union Bankshares Corp | COM | 04911A107 |  | 349607 | 9949 | SH |  | OTR | 2 | 9754 | 0 | 195 |
| AXT Inc. | COM | 00246W103 |  | 1730214 | 395026 | SH |  | DFND | 1 | 201676 | 0 | 193350 |
| AXT Inc. | COM | 00246W103 |  | 113073 | 25816 | SH |  | OTR | 2 | 25211 | 0 | 605 |
| Azenta Inc. | COM | 114340102 |  | 21991150 | 377725 | SH |  | DFND | 1 | 208835 | 0 | 168890 |
| Azenta Inc. | COM | 114340102 |  | 447595 | 7688 | SH |  | OTR | 2 | 7514 | 0 | 174 |
| Bank of Princeton () | COM | 064520109 |  | 9333515 | 294247 | SH |  | DFND | 1 | 131547 | 0 | 162700 |
| Bank of Princeton () | COM | 064520109 |  | 412042 | 12990 | SH |  | OTR | 2 | 12745 | 0 | 245 |
| Berkshire Hills Bancorp Inc. | COM | 084680107 |  | 23102654 | 772664 | SH |  | DFND | 1 | 399014 | 0 | 373650 |
| Berkshire Hills Bancorp Inc. | COM | 084680107 |  | 296637 | 9921 | SH |  | OTR | 2 | 9703 | 0 | 218 |
| Biogen Inc. | COM | 09062X103 |  | 443072 | 1600 | SH |  | DFND | 1 | 1600 | 0 | 0 |
| Brandywine Realty Trust Inc. ( | SH BEN INT NEW | 105368203 |  | 12893075 | 2096435 | SH |  | DFND | 1 | 1110985 | 0 | 985450 |
| Brandywine Realty Trust Inc. ( | SH BEN INT NEW | 105368203 |  | 219474 | 35687 | SH |  | OTR | 2 | 34658 | 0 | 1029 |
| BRP Inc. | COM SUN VTG | 05577W200 |  | 17616006 | 230727 | SH |  | DFND | 1 | 119297 | 0 | 111430 |
| BRP Inc. | COM SUN VTG | 05577W200 |  | 413510 | 5416 | SH |  | OTR | 2 | 5294 | 0 | 122 |
| Carrier Global Corp. | COM | 14448C104 |  | 247500 | 6000 | SH |  | DFND | 1 | 6000 | 0 | 0 |
| Centene Corp. | COM | 15135B101 |  | 12466 | 152 | SH |  | DFND | 1 | 152 | 0 | 0 |
| Central Garden  Pet Co. CL A | CL A NON-VTG | 153527205 |  | 3723 | 104 | SH |  | DFND | 1 | 104 | 0 | 0 |
| Central Valley Community Banco | COM | 155685100 |  | 5324546 | 251395 | SH |  | DFND | 1 | 161260 | 0 | 90135 |
| CF Industries Holdings Inc. | COM | 125269100 |  | 1062018 | 12465 | SH |  | DFND | 1 | 10755 | 0 | 1710 |
| Chase Corp. | COM | 16150R104 |  | 18982376 | 220060 | SH |  | DFND | 1 | 112725 | 0 | 107335 |
| Chase Corp. | COM | 16150R104 |  | 323474 | 3750 | SH |  | OTR | 2 | 3666 | 0 | 84 |
| Check Point Software Technolog | ORD | M22465104 |  | 2915179 | 23107 | SH |  | DFND | 1 | 19867 | 0 | 3240 |
| Churchill Downs Inc. | COM | 171484108 |  | 17044218 | 80614 | SH |  | DFND | 1 | 44914 | 0 | 35700 |
| Churchill Downs Inc. | COM | 171484108 |  | 396008 | 1873 | SH |  | OTR | 2 | 1835 | 0 | 38 |
| Ciena Corp. | COM NEW | 171779309 |  | 2168179 | 42530 | SH |  | DFND | 1 | 36680 | 0 | 5850 |
| Citizens Financial Group Inc. | COM | 174610105 |  | 12893596 | 327498 | SH |  | DFND | 1 | 182138 | 0 | 145360 |
| Citizens Financial Group Inc. | COM | 174610105 |  | 330235 | 8388 | SH |  | OTR | 2 | 8192 | 0 | 196 |
| Coherent Corp. | COM | 19247G107 |  | 4667668 | 132982 | SH |  | DFND | 1 | 70722 | 0 | 62260 |
| Coherent Corp. | COM | 19247G107 |  | 45172 | 1287 | SH |  | OTR | 2 | 1259 | 0 | 28 |
| Cohu Inc. | COM | 192576106 |  | 26802421 | 836269 | SH |  | DFND | 1 | 454769 | 0 | 381500 |
| Cohu Inc. | COM | 192576106 |  | 517254 | 16139 | SH |  | OTR | 2 | 15794 | 0 | 345 |
| Columbia Banking System Inc. | COM | 197236102 |  | 136489 | 4530 | SH |  | DFND | 1 | 4530 | 0 | 0 |
| Columbus Mckinnon Corp. | COM | 199333105 |  | 22651916 | 697626 | SH |  | DFND | 1 | 395386 | 0 | 302240 |
| Columbus Mckinnon Corp. | COM | 199333105 |  | 412271 | 12697 | SH |  | OTR | 2 | 12403 | 0 | 294 |
| Comcast Corporation CL A | CL A | 20030N101 |  | 398658 | 11400 | SH |  | DFND | 1 | 11400 | 0 | 0 |
| Comerica Inc. | COM | 200340107 |  | 7688 | 115 | SH |  | DFND | 1 | 115 | 0 | 0 |
| Comfort Systems USA Inc. | COM | 199908104 |  | 36257795 | 315066 | SH |  | DFND | 1 | 167916 | 0 | 147150 |
| Comfort Systems USA Inc. | COM | 199908104 |  | 684265 | 5946 | SH |  | OTR | 2 | 5815 | 0 | 131 |
| Commercial Metals Company | COM | 201723103 |  | 28476617 | 589578 | SH |  | DFND | 1 | 319783 | 0 | 269795 |
| Commercial Metals Company | COM | 201723103 |  | 615196 | 12737 | SH |  | OTR | 2 | 12456 | 0 | 281 |
| Community Healthcare Trust Inc | COM | 20369C106 |  | 14676317 | 409953 | SH |  | DFND | 1 | 224053 | 0 | 185900 |
| Community Healthcare Trust Inc | COM | 20369C106 |  | 319478 | 8924 | SH |  | OTR | 2 | 8706 | 0 | 218 |
| ConAgra Brands Inc. | COM | 205887102 |  | 10449 | 270 | SH |  | DFND | 1 | 270 | 0 | 0 |
| Constellation Energy Corp. | COM | 21037T109 |  | 472517 | 5481 | SH |  | DFND | 1 | 5481 | 0 | 0 |
| Coterra Energy Inc. | COM | 127097103 |  | 1752701 | 71335 | SH |  | DFND | 1 | 61645 | 0 | 9690 |
| Cross Country Healthcare Inc. | COM | 227483104 |  | 50601051 | 1904443 | SH |  | DFND | 1 | 1022013 | 0 | 882430 |
| Cross Country Healthcare Inc. | COM | 227483104 |  | 441858 | 16630 | SH |  | OTR | 2 | 16347 | 0 | 283 |
| CSX Corp. | COM | 126408103 |  | 947988 | 30600 | SH |  | DFND | 1 | 30600 | 0 | 0 |
| Curtiss-Wright Corp. | COM | 231561101 |  | 36404822 | 218006 | SH |  | DFND | 1 | 115321 | 0 | 102685 |
| Curtiss-Wright Corp. | COM | 231561101 |  | 573109 | 3432 | SH |  | OTR | 2 | 3358 | 0 | 74 |
| CVS Health Corporation | COM | 126650100 |  | 157305 | 1688 | SH |  | DFND | 1 | 1688 | 0 | 0 |
| D. R. Horton Inc. | COM | 23331A109 |  | 1613701 | 18103 | SH |  | DFND | 1 | 15623 | 0 | 2480 |
| Dana Incorporated | COM | 235825205 |  | 7827036 | 517319 | SH |  | DFND | 1 | 267869 | 0 | 249450 |
| Dana Incorporated | COM | 235825205 |  | 288196 | 19048 | SH |  | OTR | 2 | 18609 | 0 | 439 |
| Deckers Outdoor Corp. | COM | 243537107 |  | 17779784 | 44543 | SH |  | DFND | 1 | 21443 | 0 | 23100 |
| Deckers Outdoor Corp. | COM | 243537107 |  | 633067 | 1586 | SH |  | OTR | 2 | 1552 | 0 | 34 |
| Delek US Holdings Inc. | COM | 24665A103 |  | 19113651 | 707913 | SH |  | DFND | 1 | 383953 | 0 | 323960 |
| Delek US Holdings Inc. | COM | 24665A103 |  | 185841 | 6883 | SH |  | OTR | 2 | 6739 | 0 | 144 |
| Diamondback Energy Inc. | COM | 25278X109 |  | 1953629 | 14283 | SH |  | DFND | 1 | 12345 | 0 | 1938 |
| Diamondrock Hospitality Co. (R | COM | 252784301 |  | 11482749 | 1402045 | SH |  | DFND | 1 | 797795 | 0 | 604250 |
| Diamondrock Hospitality Co. (R | COM | 252784301 |  | 301678 | 36835 | SH |  | OTR | 2 | 36000 | 0 | 835 |
| Dicks Sporting Goods Inc. | COM | 253393102 |  | 526630 | 4378 | SH |  | DFND | 1 | 4378 | 0 | 0 |
| Digital Realty Trust Inc. (REI | COM | 253868103 |  | 11331 | 113 | SH |  | DFND | 1 | 113 | 0 | 0 |
| Dime Community Bancshares | COM | 25432X102 |  | 22179590 | 696814 | SH |  | DFND | 1 | 357826 | 0 | 338988 |
| Dime Community Bancshares | COM | 25432X102 |  | 362447 | 11387 | SH |  | OTR | 2 | 11157 | 0 | 230 |
| Douglas Dynamics Inc. | COM | 25960R105 |  | 12821938 | 354589 | SH |  | DFND | 1 | 181039 | 0 | 173550 |
| Douglas Dynamics Inc. | COM | 25960R105 |  | 289785 | 8014 | SH |  | OTR | 2 | 7817 | 0 | 197 |
| Eastman Chemical Co. | COM | 277432100 |  | 322910 | 3965 | SH |  | DFND | 1 | 3965 | 0 | 0 |
| Elbit Systems Ltd. | ORD | M3760D101 |  | 13171428 | 80294 | SH |  | DFND | 1 | 43254 | 0 | 37040 |
| Elbit Systems Ltd. | ORD | M3760D101 |  | 321189 | 1958 | SH |  | OTR | 2 | 1915 | 0 | 43 |
| Elevance Health Inc. | COM | 036752103 |  | 18467 | 36 | SH |  | DFND | 1 | 36 | 0 | 0 |
| EMCOR Group Inc. | COM | 29084Q100 |  | 48951836 | 330510 | SH |  | DFND | 1 | 174610 | 0 | 155900 |
| EMCOR Group Inc. | COM | 29084Q100 |  | 870145 | 5875 | SH |  | OTR | 2 | 5744 | 0 | 131 |
| Encompass Health Corp. | COM | 29261A100 |  | 28336842 | 473781 | SH |  | DFND | 1 | 261146 | 0 | 212635 |
| Encompass Health Corp. | COM | 29261A100 |  | 455572 | 7617 | SH |  | OTR | 2 | 7444 | 0 | 173 |
| Enhabit Inc. | COM | 29332G102 |  | 22192642 | 1686371 | SH |  | DFND | 1 | 956229 | 0 | 730142 |
| Enhabit Inc. | COM | 29332G102 |  | 308259 | 23424 | SH |  | OTR | 2 | 22823 | 0 | 601 |
| EQT Corp. | COM | 26884L109 |  | 6766 | 200 | SH |  | DFND | 1 | 200 | 0 | 0 |
| Everest Re Group Ltd. | COM | G3223R108 |  | 33125012 | 99994 | SH |  | DFND | 1 | 51327 | 0 | 48667 |
| Everest Re Group Ltd. | COM | G3223R108 |  | 524068 | 1582 | SH |  | OTR | 2 | 1547 | 0 | 35 |
| Exelixis Inc. | COM | 30161Q104 |  | 19209183 | 1197580 | SH |  | DFND | 1 | 653770 | 0 | 543810 |
| Exelixis Inc. | COM | 30161Q104 |  | 218239 | 13606 | SH |  | OTR | 2 | 13223 | 0 | 383 |
| Exelon Corp. | COM | 30161N101 |  | 15087 | 349 | SH |  | DFND | 1 | 349 | 0 | 0 |
| F5 Inc. | COM | 315616102 |  | 2185657 | 15230 | SH |  | DFND | 1 | 13150 | 0 | 2080 |
| First Citizens Bancshares Inc. | COM | 31946M103 |  | 88499854 | 116699 | SH |  | DFND | 1 | 62414 | 0 | 54285 |
| First Citizens Bancshares Inc. | COM | 31946M103 |  | 1671425 | 2204 | SH |  | OTR | 2 | 2154 | 0 | 50 |
| First Community Bancshares Inc | COM | 31983A103 |  | 21162923 | 624275 | SH |  | DFND | 1 | 323025 | 0 | 301250 |
| First Community Bancshares Inc | COM | 31983A103 |  | 485617 | 14325 | SH |  | OTR | 2 | 14018 | 0 | 307 |
| First Merchants Corporation | COM | 320817109 |  | 25381725 | 617410 | SH |  | DFND | 1 | 316110 | 0 | 301300 |
| First Merchants Corporation | COM | 320817109 |  | 525220 | 12776 | SH |  | OTR | 2 | 12498 | 0 | 278 |
| First Republic Bank | COM | 33616C100 |  | 1701219 | 13957 | SH |  | DFND | 1 | 11967 | 0 | 1990 |
| Freeport-McMoRan Inc. | CL B | 35671D857 |  | 6650 | 175 | SH |  | DFND | 1 | 175 | 0 | 0 |
| FTI Consulting Inc. | COM | 302941109 |  | 10620544 | 66880 | SH |  | DFND | 1 | 30780 | 0 | 36100 |
| Gaming and Leisure Properties | COM | 36467J108 |  | 12345 | 237 | SH |  | DFND | 1 | 237 | 0 | 0 |
| Gencor Industries Inc. | COM | 368678108 |  | 12693135 | 1256746 | SH |  | DFND | 1 | 613871 | 0 | 642875 |
| Gencor Industries Inc. | COM | 368678108 |  | 243793 | 24138 | SH |  | OTR | 2 | 23633 | 0 | 505 |
| Gentex Corp. | COM | 371901109 |  | 7068220 | 259194 | SH |  | DFND | 1 | 127294 | 0 | 131900 |
| Gentex Corp. | COM | 371901109 |  | 304087 | 11151 | SH |  | OTR | 2 | 10900 | 0 | 251 |
| Gibraltar Industries Inc. | COM | 374689107 |  | 6123145 | 133460 | SH |  | DFND | 1 | 68910 | 0 | 64550 |
| Granite Construction Inc. | COM | 387328107 |  | 13315448 | 379682 | SH |  | DFND | 1 | 216282 | 0 | 163400 |
| Granite Construction Inc. | COM | 387328107 |  | 184818 | 5270 | SH |  | OTR | 2 | 5147 | 0 | 123 |
| Harmonic Inc. | COM | 413160102 |  | 10091795 | 770366 | SH |  | DFND | 1 | 438566 | 0 | 331800 |
| Harmonic Inc. | COM | 413160102 |  | 320661 | 24478 | SH |  | OTR | 2 | 23976 | 0 | 502 |
| Hartford Financial Services Gr | COM | 416515104 |  | 6825 | 90 | SH |  | DFND | 1 | 90 | 0 | 0 |
| Hayward Holdings Inc. | COM | 421298100 |  | 11576006 | 1231490 | SH |  | DFND | 1 | 624140 | 0 | 607350 |
| Hayward Holdings Inc. | COM | 421298100 |  | 208153 | 22144 | SH |  | OTR | 2 | 21523 | 0 | 621 |
| Heidrick  Struggles Intl Inc. | COM | 422819102 |  | 15669269 | 560217 | SH |  | DFND | 1 | 283067 | 0 | 277150 |
| Heidrick  Struggles Intl Inc. | COM | 422819102 |  | 319024 | 11406 | SH |  | OTR | 2 | 11171 | 0 | 235 |
| Helen of Troy Corp. Ltd. | COM | G4388N106 |  | 12868111 | 116023 | SH |  | DFND | 1 | 59348 | 0 | 56675 |
| Helen of Troy Corp. Ltd. | COM | G4388N106 |  | 302007 | 2723 | SH |  | OTR | 2 | 2669 | 0 | 54 |
| Helix Energy Solutions Group I | COM | 42330P107 |  | 21808232 | 2955045 | SH |  | DFND | 1 | 1686540 | 0 | 1268505 |
| Helix Energy Solutions Group I | COM | 42330P107 |  | 409699 | 55515 | SH |  | OTR | 2 | 54373 | 0 | 1142 |
| Helmerich  Payne Inc. | COM | 423452101 |  | 22912394 | 462223 | SH |  | DFND | 1 | 249743 | 0 | 212480 |
| Helmerich  Payne Inc. | COM | 423452101 |  | 231095 | 4662 | SH |  | OTR | 2 | 4572 | 0 | 90 |
| HNI Corp. | COM | 404251100 |  | 10037638 | 353065 | SH |  | DFND | 1 | 181045 | 0 | 172020 |
| HNI Corp. | COM | 404251100 |  | 194148 | 6829 | SH |  | OTR | 2 | 6687 | 0 | 142 |
| Hope Bancorp Inc. | COM | 43940T109 |  | 7833405 | 611507 | SH |  | DFND | 1 | 319224 | 0 | 292283 |
| Hope Bancorp Inc. | COM | 43940T109 |  | 369632 | 28855 | SH |  | OTR | 2 | 28289 | 0 | 566 |
| Host Hotels  Resorts Inc. (RE | COM | 44107P104 |  | 1151668 | 71755 | SH |  | DFND | 1 | 62455 | 0 | 9300 |
| Huntington Bancshares Inc. | COM | 446150104 |  | 1256240 | 89095 | SH |  | DFND | 1 | 78150 | 0 | 10945 |
| Huntsman Corp. | COM | 447011107 |  | 15266514 | 555550 | SH |  | DFND | 1 | 294935 | 0 | 260615 |
| Huntsman Corp. | COM | 447011107 |  | 351633 | 12796 | SH |  | OTR | 2 | 12524 | 0 | 272 |
| ICF International Inc. | COM | 44925C103 |  | 37937834 | 383017 | SH |  | DFND | 1 | 208102 | 0 | 174915 |
| ICF International Inc. | COM | 44925C103 |  | 451866 | 4562 | SH |  | OTR | 2 | 4462 | 0 | 100 |
| Ingersoll Rand Inc. | COM | 45687V106 |  | 230527 | 4412 | SH |  | DFND | 1 | 4412 | 0 | 0 |
| Innoviva Inc. | COM | 45781M101 |  | 25442120 | 1920160 | SH |  | DFND | 1 | 1065510 | 0 | 854650 |
| Innoviva Inc. | COM | 45781M101 |  | 442085 | 33365 | SH |  | OTR | 2 | 32615 | 0 | 750 |
| International Paper Co. | CL A | 460146103 |  | 245873 | 7100 | SH |  | DFND | 1 | 7100 | 0 | 0 |
| iShares Russell 2000 Value Ind | RUS 2000 VAL ETF | 464287630 |  | 325181 | 2345 | SH |  | DFND | 1 | 2345 | 0 | 0 |
| iShares Russell 2000 Value Ind | RUS 2000 VAL ETF | 464287630 |  | 1121424 | 8087 | SH |  | OTR | 2 | 8078 | 0 | 9 |
| Itron Inc. | COM | 465741106 |  | 5690274 | 112345 | SH |  | DFND | 1 | 57610 | 0 | 54735 |
| Itron Inc. | COM | 465741106 |  | 182339 | 3600 | SH |  | OTR | 2 | 3506 | 0 | 94 |
| Jazz Pharmaceuticals PLC | SHS USD | G50871105 |  | 31469938 | 197539 | SH |  | DFND | 1 | 110209 | 0 | 87330 |
| Jazz Pharmaceuticals PLC | SHS USD | G50871105 |  | 474265 | 2977 | SH |  | OTR | 2 | 2910 | 0 | 67 |
| Johnson  Johnson | COM | 478160104 |  | 900915 | 5100 | SH |  | DFND | 1 | 5100 | 0 | 0 |
| JPMorgan Chase  Co. | COM | 46625H100 |  | 814658 | 6075 | SH |  | DFND | 1 | 6075 | 0 | 0 |
| Kaiser Aluminum Corporation | COM PAR $0.01 | 483007704 |  | 17758385 | 233786 | SH |  | DFND | 1 | 125936 | 0 | 107850 |
| Kaiser Aluminum Corporation | COM PAR $0.01 | 483007704 |  | 345769 | 4552 | SH |  | OTR | 2 | 4458 | 0 | 94 |
| KB Home | COM | 48666K109 |  | 17447717 | 547809 | SH |  | DFND | 1 | 282559 | 0 | 265250 |
| KB Home | COM | 48666K109 |  | 419431 | 13169 | SH |  | OTR | 2 | 12901 | 0 | 268 |
| KBR Inc. | COM | 48242W106 |  | 46404072 | 878865 | SH |  | DFND | 1 | 475510 | 0 | 403355 |
| KBR Inc. | COM | 48242W106 |  | 458356 | 8681 | SH |  | OTR | 2 | 8494 | 0 | 187 |
| Kennametal Inc. | COM | 489170100 |  | 4668 | 194 | SH |  | DFND | 1 | 194 | 0 | 0 |
| KeyCorp | COM | 493267108 |  | 2044411 | 117360 | SH |  | DFND | 1 | 101360 | 0 | 16000 |
| KLA Corp. | COM NEW | 482480100 |  | 2380190 | 6313 | SH |  | DFND | 1 | 5463 | 0 | 850 |
| KVH Industries Inc. | COM | 482738101 |  | 18069737 | 1768076 | SH |  | DFND | 1 | 977964 | 0 | 790112 |
| KVH Industries Inc. | COM | 482738101 |  | 563837 | 55170 | SH |  | OTR | 2 | 54020 | 0 | 1150 |
| L.B. Foster Co. | COM | 350060109 |  | 987408 | 102005 | SH |  | DFND | 1 | 88120 | 0 | 13885 |
| L3Harris Technologies Inc. | COM | 502431109 |  | 2225765 | 10690 | SH |  | DFND | 1 | 9440 | 0 | 1250 |
| La-Z-Boy Inc. | COM | 505336107 |  | 13460560 | 589858 | SH |  | DFND | 1 | 330953 | 0 | 258905 |
| La-Z-Boy Inc. | COM | 505336107 |  | 287690 | 12607 | SH |  | OTR | 2 | 12328 | 0 | 279 |
| Laboratory Corporation of Amer | COM NEW | 50540R409 |  | 1897262 | 8057 | SH |  | DFND | 1 | 6947 | 0 | 1110 |
| Lakeland Bancorp Inc. | COM | 511637100 |  | 26474363 | 1503371 | SH |  | DFND | 1 | 762878 | 0 | 740493 |
| Lakeland Bancorp Inc. | COM | 511637100 |  | 464252 | 26363 | SH |  | OTR | 2 | 25741 | 0 | 622 |
| LAM Research Corp. | COM | 512807108 |  | 390879 | 930 | SH |  | DFND | 1 | 930 | 0 | 0 |
| Lear Corp. | COM NEW | 521865204 |  | 997369 | 8042 | SH |  | DFND | 1 | 6842 | 0 | 1200 |
| Leidos Holdings Inc. | COM | 525327102 |  | 20774394 | 197494 | SH |  | DFND | 1 | 103774 | 0 | 93720 |
| Leidos Holdings Inc. | COM | 525327102 |  | 502282 | 4775 | SH |  | OTR | 2 | 4680 | 0 | 95 |
| Lincoln National Corp. | COM | 534187109 |  | 812636 | 26453 | SH |  | DFND | 1 | 22633 | 0 | 3820 |
| Louisiana-Pacific Corp. | COM | 546347105 |  | 4914 | 83 | SH |  | DFND | 1 | 83 | 0 | 0 |
| Lowe's Companies Inc. | COM | 548661107 |  | 1660665 | 8335 | SH |  | DFND | 1 | 8335 | 0 | 0 |
| LSB Industries Inc. | COM | 502160104 |  | 15053738 | 1131860 | SH |  | DFND | 1 | 568860 | 0 | 563000 |
| LSB Industries Inc. | COM | 502160104 |  | 128942 | 9695 | SH |  | OTR | 2 | 9426 | 0 | 269 |
| LSI Industries Inc. | COM | 50216C108 |  | 26009633 | 2124970 | SH |  | DFND | 1 | 1115620 | 0 | 1009350 |
| LSI Industries Inc. | COM | 50216C108 |  | 417469 | 34107 | SH |  | OTR | 2 | 33369 | 0 | 738 |
| LXP Industrial Trust (REIT) | COM | 529043101 |  | 21974652 | 2193079 | SH |  | DFND | 1 | 1180044 | 0 | 1013035 |
| LXP Industrial Trust (REIT) | COM | 529043101 |  | 358334 | 35762 | SH |  | OTR | 2 | 35031 | 0 | 731 |
| M.D.C. Holdings Inc. | COM | 552676108 |  | 8411604 | 266190 | SH |  | DFND | 1 | 134840 | 0 | 131350 |
| M.D.C. Holdings Inc. | COM | 552676108 |  | 218703 | 6921 | SH |  | OTR | 2 | 6760 | 0 | 161 |
| Madison Square Garden Entertai | CL A | 55826T102 |  | 17959219 | 399360 | SH |  | DFND | 1 | 215239 | 0 | 184121 |
| Madison Square Garden Entertai | CL A | 55826T102 |  | 275980 | 6137 | SH |  | OTR | 2 | 5958 | 0 | 179 |
| Madison Square Garden Sports C | CL A | 55825T103 |  | 12567455 | 68551 | SH |  | DFND | 1 | 38226 | 0 | 30325 |
| Madison Square Garden Sports C | CL A | 55825T103 |  | 282511 | 1541 | SH |  | OTR | 2 | 1507 | 0 | 34 |
| Magna International Cl A | COM | 559222401 |  | 1075285 | 19140 | SH |  | DFND | 1 | 16645 | 0 | 2495 |
| Magnachip Semiconductor Corp | COM | 55933J203 |  | 20214811 | 2152802 | SH |  | DFND | 1 | 1170917 | 0 | 981885 |
| Magnachip Semiconductor Corp | COM | 55933J203 |  | 325363 | 34650 | SH |  | OTR | 2 | 33726 | 0 | 924 |
| Magnolia Oil  Gas Corporation | CL A | 559663109 |  | 61590276 | 2626451 | SH |  | DFND | 1 | 1393946 | 0 | 1232505 |
| Magnolia Oil  Gas Corporation | CL A | 559663109 |  | 1044533 | 44543 | SH |  | OTR | 2 | 43560 | 0 | 983 |
| Maravai Lifesciences Holdings | COM CL A | 56600D107 |  | 10239735 | 715565 | SH |  | DFND | 1 | 375600 | 0 | 339965 |
| Maravai Lifesciences Holdings | COM CL A | 56600D107 |  | 117069 | 8181 | SH |  | OTR | 2 | 7879 | 0 | 302 |
| Markel Corp. | COM | 570535104 |  | 2557248 | 1941 | SH |  | DFND | 1 | 1670 | 0 | 271 |
| Masco Corp. | COM | 574599106 |  | 965136 | 20680 | SH |  | DFND | 1 | 17865 | 0 | 2815 |
| Masonite International Corpora | COM | 575385109 |  | 17604176 | 218387 | SH |  | DFND | 1 | 111852 | 0 | 106535 |
| Masonite International Corpora | COM | 575385109 |  | 345171 | 4282 | SH |  | OTR | 2 | 4190 | 0 | 92 |
| MasterCraft Boat Holdings Inc. | COM | 57637H103 |  | 26440020 | 1022034 | SH |  | DFND | 1 | 554434 | 0 | 467600 |
| MasterCraft Boat Holdings Inc. | COM | 57637H103 |  | 539751 | 20864 | SH |  | OTR | 2 | 20420 | 0 | 444 |
| MaxLinear Inc. | COM | 57776J100 |  | 4968243 | 146340 | SH |  | DFND | 1 | 77790 | 0 | 68550 |
| MaxLinear Inc. | COM | 57776J100 |  | 195788 | 5767 | SH |  | OTR | 2 | 5643 | 0 | 124 |
| Medifast Inc. | COM | 58470H101 |  | 6467905 | 56072 | SH |  | DFND | 1 | 28747 | 0 | 27325 |
| Medifast Inc. | COM | 58470H101 |  | 140034 | 1214 | SH |  | OTR | 2 | 1184 | 0 | 30 |
| Merck  Co. Inc. | COM | 58933Y105 |  | 809935 | 7300 | SH |  | DFND | 1 | 7300 | 0 | 0 |
| Meridian Bioscience Inc. | COM | 589584101 |  | 20849105 | 627796 | SH |  | DFND | 1 | 309896 | 0 | 317900 |
| Meridian Bioscience Inc. | COM | 589584101 |  | 521097 | 15691 | SH |  | OTR | 2 | 15347 | 0 | 344 |
| Methode Electronics Inc. | COM | 591520200 |  | 23903716 | 538736 | SH |  | DFND | 1 | 286686 | 0 | 252050 |
| Methode Electronics Inc. | COM | 591520200 |  | 509189 | 11476 | SH |  | OTR | 2 | 11226 | 0 | 250 |
| Microsoft Corporation | COM | 594918104 |  | 940094 | 3920 | SH |  | DFND | 1 | 3920 | 0 | 0 |
| Miller Industries Inc. | COM NEW | 600551204 |  | 9984490 | 374512 | SH |  | DFND | 1 | 219612 | 0 | 154900 |
| Miller Industries Inc. | COM NEW | 600551204 |  | 197149 | 7395 | SH |  | OTR | 2 | 7233 | 0 | 162 |
| MKS Instruments Inc. | COM | 55306N104 |  | 16064384 | 189595 | SH |  | DFND | 1 | 102525 | 0 | 87070 |
| MKS Instruments Inc. | COM | 55306N104 |  | 384588 | 4539 | SH |  | OTR | 2 | 4450 | 0 | 89 |
| Morgan Stanley | COM NEW | 617446448 |  | 1147770 | 13500 | SH |  | DFND | 1 | 13500 | 0 | 0 |
| Mueller Industries Inc. | COM | 624756102 |  | 32327516 | 547924 | SH |  | DFND | 1 | 286624 | 0 | 261300 |
| Mueller Industries Inc. | COM | 624756102 |  | 580678 | 9842 | SH |  | OTR | 2 | 9605 | 0 | 237 |
| National Healthcare Corp. | COM | 635906100 |  | 6753845 | 113510 | SH |  | DFND | 1 | 62260 | 0 | 51250 |
| National Healthcare Corp. | COM | 635906100 |  | 175882 | 2956 | SH |  | OTR | 2 | 2886 | 0 | 70 |
| National Retail Properties Inc | COM | 637417106 |  | 778378 | 17010 | SH |  | DFND | 1 | 15010 | 0 | 2000 |
| Newmark Group Inc. Class A | CL A | 65158N102 |  | 6893556 | 864938 | SH |  | DFND | 1 | 512238 | 0 | 352700 |
| Newmark Group Inc. Class A | CL A | 65158N102 |  | 137777 | 17287 | SH |  | OTR | 2 | 16925 | 0 | 362 |
| Nomad Foods Limited | USD ORD SHS | G6564A105 |  | 18353170 | 1064569 | SH |  | DFND | 1 | 567719 | 0 | 496850 |
| Nomad Foods Limited | USD ORD SHS | G6564A105 |  | 289665 | 16802 | SH |  | OTR | 2 | 16428 | 0 | 374 |
| NorthWestern Corp. | COM NEW | 668074305 |  | 48046411 | 809680 | SH |  | DFND | 1 | 428130 | 0 | 381550 |
| NorthWestern Corp. | COM NEW | 668074305 |  | 830640 | 13998 | SH |  | OTR | 2 | 13673 | 0 | 325 |
| nVent Electric plc | SHS | G6700G107 |  | 20004 | 520 | SH |  | DFND | 1 | 520 | 0 | 0 |
| NXP Semiconductors N.V. | COM | N6596X109 |  | 271812 | 1720 | SH |  | DFND | 1 | 1720 | 0 | 0 |
| Occidental Petroleum Corp. War | #N/A | 674599162 |  | 9524 | 231 | SH |  | DFND | 1 | 231 | 0 | 0 |
| OceanFirst Financial Corp. | COM | 675234108 |  | 16990480 | 799552 | SH |  | DFND | 1 | 409552 | 0 | 390000 |
| OceanFirst Financial Corp. | COM | 675234108 |  | 327292 | 15402 | SH |  | OTR | 2 | 15050 | 0 | 352 |
| Old Republic Intl Corp. | COM | 680223104 |  | 22565011 | 934369 | SH |  | DFND | 1 | 474919 | 0 | 459450 |
| Old Republic Intl Corp. | COM | 680223104 |  | 382052 | 15820 | SH |  | OTR | 2 | 15513 | 0 | 307 |
| Onto Innovations Inc. | COM | 683344105 |  | 20441299 | 300210 | SH |  | DFND | 1 | 162750 | 0 | 137460 |
| Onto Innovations Inc. | COM | 683344105 |  | 354612 | 5208 | SH |  | OTR | 2 | 5092 | 0 | 116 |
| OraSure Technologies Inc. | COM | 68554V108 |  | 8128005 | 1686308 | SH |  | DFND | 1 | 966068 | 0 | 720240 |
| OraSure Technologies Inc. | COM | 68554V108 |  | 269162 | 55843 | SH |  | OTR | 2 | 54530 | 0 | 1313 |
| Organon  Co. | COMMON STOCK | 68622V106 |  | 20389 | 730 | SH |  | DFND | 1 | 730 | 0 | 0 |
| Oshkosh Corp. | COM | 688239201 |  | 14848638 | 168371 | SH |  | DFND | 1 | 90791 | 0 | 77580 |
| Oshkosh Corp. | COM | 688239201 |  | 308487 | 3498 | SH |  | OTR | 2 | 3420 | 0 | 78 |
| OSI Systems Inc. | COM | 671044105 |  | 13204932 | 166058 | SH |  | DFND | 1 | 84358 | 0 | 81700 |
| OSI Systems Inc. | COM | 671044105 |  | 241025 | 3031 | SH |  | OTR | 2 | 2952 | 0 | 79 |
| Otis Worldwide Corp. | COM | 68902V107 |  | 234930 | 3000 | SH |  | DFND | 1 | 3000 | 0 | 0 |
| OUTFRONT Media Inc. (REIT) | COM | 69007J106 |  | 714764 | 43110 | SH |  | DFND | 1 | 37610 | 0 | 5500 |
| Ovintiv Inc. | COM | 69047Q102 |  | 25016714 | 493329 | SH |  | DFND | 1 | 245579 | 0 | 247750 |
| Ovintiv Inc. | COM | 69047Q102 |  | 260547 | 5138 | SH |  | OTR | 2 | 5041 | 0 | 97 |
| Owens Corning New | COM | 690742101 |  | 23584426 | 276488 | SH |  | DFND | 1 | 139023 | 0 | 137465 |
| Owens Corning New | COM | 690742101 |  | 367557 | 4309 | SH |  | OTR | 2 | 4205 | 0 | 104 |
| Perficient Inc. | COM | 71375U101 |  | 8250554 | 118152 | SH |  | DFND | 1 | 61422 | 0 | 56730 |
| Perficient Inc. | COM | 71375U101 |  | 257113 | 3682 | SH |  | OTR | 2 | 3603 | 0 | 79 |
| Perion Network Ltd. | SHS NEW | M78673114 |  | 9887367 | 390805 | SH |  | DFND | 1 | 215155 | 0 | 175650 |
| Perion Network Ltd. | SHS NEW | M78673114 |  | 338412 | 13376 | SH |  | OTR | 2 | 13082 | 0 | 294 |
| Perrigo Co. PLC | SHS | G97822103 |  | 31423480 | 921780 | SH |  | DFND | 1 | 499420 | 0 | 422360 |
| Perrigo Co. PLC | SHS | G97822103 |  | 464169 | 13616 | SH |  | OTR | 2 | 13302 | 0 | 314 |
| PGT Innovations Inc. | COM | 69336V101 |  | 17077176 | 950845 | SH |  | DFND | 1 | 510045 | 0 | 440800 |
| PGT Innovations Inc. | COM | 69336V101 |  | 314568 | 17515 | SH |  | OTR | 2 | 17077 | 0 | 438 |
| Physicians Realty Trust (REIT) | COM | 71943U104 |  | 24080337 | 1664156 | SH |  | DFND | 1 | 891406 | 0 | 772750 |
| Physicians Realty Trust (REIT) | COM | 71943U104 |  | 427587 | 29550 | SH |  | OTR | 2 | 28878 | 0 | 672 |
| Piedmont Office Realty Trust I | COM CL A | 720190206 |  | 10476065 | 1142428 | SH |  | DFND | 1 | 639253 | 0 | 503175 |
| Piedmont Office Realty Trust I | COM CL A | 720190206 |  | 160025 | 17451 | SH |  | OTR | 2 | 16968 | 0 | 483 |
| Pinnacle West Capital Corporat | COM | 723484101 |  | 1856897 | 24420 | SH |  | DFND | 1 | 21105 | 0 | 3315 |
| Piper Sandler Companies | COM | 724078100 |  | 32157190 | 247002 | SH |  | DFND | 1 | 134402 | 0 | 112600 |
| Piper Sandler Companies | COM | 724078100 |  | 670086 | 5147 | SH |  | OTR | 2 | 5026 | 0 | 121 |
| PNC Financial Services Group I | COM | 693475105 |  | 726524 | 4600 | SH |  | DFND | 1 | 4600 | 0 | 0 |
| Polaris Industries Inc. | COM | 731068102 |  | 18293827 | 181127 | SH |  | DFND | 1 | 91562 | 0 | 89565 |
| Polaris Industries Inc. | COM | 731068102 |  | 314615 | 3115 | SH |  | OTR | 2 | 3051 | 0 | 64 |
| Portland General Electric | COM NEW | 736508847 |  | 11297489 | 230561 | SH |  | DFND | 1 | 115571 | 0 | 114990 |
| Portland General Electric | COM NEW | 736508847 |  | 311346 | 6354 | SH |  | OTR | 2 | 6235 | 0 | 119 |
| Progress Software Corp. | COM | 743312100 |  | 21971984 | 435520 | SH |  | DFND | 1 | 223020 | 0 | 212500 |
| Progress Software Corp. | COM | 743312100 |  | 416666 | 8259 | SH |  | OTR | 2 | 8079 | 0 | 180 |
| Provident Financial Services I | COM | 74386T105 |  | 15854182 | 742237 | SH |  | DFND | 1 | 387437 | 0 | 354800 |
| Provident Financial Services I | COM | 74386T105 |  | 354852 | 16613 | SH |  | OTR | 2 | 16227 | 0 | 386 |
| Prudential Financial Inc. | COM | 744320102 |  | 328218 | 3300 | SH |  | DFND | 1 | 3300 | 0 | 0 |
| PulteGroup Inc. | COM | 745867101 |  | 9122345 | 200359 | SH |  | DFND | 1 | 105714 | 0 | 94645 |
| PulteGroup Inc. | COM | 745867101 |  | 262161 | 5758 | SH |  | OTR | 2 | 5633 | 0 | 125 |
| Qorvo Inc. | COM | 74736K101 |  | 12578022 | 138769 | SH |  | DFND | 1 | 75384 | 0 | 63385 |
| Qorvo Inc. | COM | 74736K101 |  | 263852 | 2911 | SH |  | OTR | 2 | 2844 | 0 | 67 |
| Quanex Building Products Corpo | COM | 747619104 |  | 23798400 | 1005000 | SH |  | DFND | 1 | 520350 | 0 | 484650 |
| Quanex Building Products Corpo | COM | 747619104 |  | 535830 | 22628 | SH |  | OTR | 2 | 22177 | 0 | 451 |
| Ralph Lauren Corp. | CL A | 751212101 |  | 2252145 | 21313 | SH |  | DFND | 1 | 18408 | 0 | 2905 |
| Raymond James Financial Inc. | COM | 754730109 |  | 2181984 | 20421 | SH |  | DFND | 1 | 17536 | 0 | 2885 |
| Raytheon Technologies Corp. | COM | 75513E101 |  | 605520 | 6000 | SH |  | DFND | 1 | 6000 | 0 | 0 |
| Regal Rexnord Corp. | COM | 758750103 |  | 29908614 | 249280 | SH |  | DFND | 1 | 131265 | 0 | 118015 |
| Regal Rexnord Corp. | COM | 758750103 |  | 530791 | 4424 | SH |  | OTR | 2 | 4326 | 0 | 98 |
| REX American Resources Corp. | COM | 761624105 |  | 24942844 | 782889 | SH |  | DFND | 1 | 395989 | 0 | 386900 |
| REX American Resources Corp. | COM | 761624105 |  | 484717 | 15214 | SH |  | OTR | 2 | 14884 | 0 | 330 |
| Sabra Health Care REIT Inc. | COM | 78573L106 |  | 18568145 | 1493817 | SH |  | DFND | 1 | 811597 | 0 | 682220 |
| Sabra Health Care REIT Inc. | COM | 78573L106 |  | 289531 | 23293 | SH |  | OTR | 2 | 22696 | 0 | 597 |
| Sandy Spring Bancorp Inc. | COM | 800363103 |  | 25412562 | 721333 | SH |  | DFND | 1 | 379483 | 0 | 341850 |
| Sandy Spring Bancorp Inc. | COM | 800363103 |  | 472786 | 13420 | SH |  | OTR | 2 | 13079 | 0 | 341 |
| Schlumberger Limited | COM | 806857108 |  | 443718 | 8300 | SH |  | DFND | 1 | 8300 | 0 | 0 |
| Schnitzer Steel Industries Inc | COM | 806882106 |  | 14106387 | 460241 | SH |  | DFND | 1 | 247941 | 0 | 212300 |
| Schnitzer Steel Industries Inc | COM | 806882106 |  | 284431 | 9280 | SH |  | OTR | 2 | 9055 | 0 | 225 |
| Science Applications Internati | COM | 808625107 |  | 25931219 | 233762 | SH |  | DFND | 1 | 127642 | 0 | 106120 |
| Science Applications Internati | COM | 808625107 |  | 442721 | 3991 | SH |  | OTR | 2 | 3912 | 0 | 79 |
| Selective Insurance Group Inc. | COM | 816300107 |  | 33852476 | 382039 | SH |  | DFND | 1 | 203489 | 0 | 178550 |
| Selective Insurance Group Inc. | COM | 816300107 |  | 663777 | 7491 | SH |  | OTR | 2 | 7328 | 0 | 163 |
| Signature Bank | COM | 82669G104 |  | 657215 | 5704 | SH |  | DFND | 1 | 4954 | 0 | 750 |
| Silicom Ltd. | ORD | M84116108 |  | 24472164 | 580597 | SH |  | DFND | 1 | 303197 | 0 | 277400 |
| Silicom Ltd. | ORD | M84116108 |  | 442321 | 10494 | SH |  | OTR | 2 | 10257 | 0 | 237 |
| Silicon Motion Technology Corp | SPONSORED ADR | 82706C108 |  | 31862062 | 490261 | SH |  | DFND | 1 | 261136 | 0 | 229125 |
| Silicon Motion Technology Corp | SPONSORED ADR | 82706C108 |  | 652758 | 10044 | SH |  | OTR | 2 | 9828 | 0 | 216 |
| Skyworks Solutions Inc. | COM | 83088M102 |  | 1107230 | 12150 | SH |  | DFND | 1 | 10550 | 0 | 1600 |
| Sonos Inc. | COM | 83570H108 |  | 10187759 | 602826 | SH |  | DFND | 1 | 312026 | 0 | 290800 |
| Sonos Inc. | COM | 83570H108 |  | 284882 | 16857 | SH |  | OTR | 2 | 16476 | 0 | 381 |
| Spectrum Brands Holdings Inc. | COM | 84790A105 |  | 21914081 | 359719 | SH |  | DFND | 1 | 195979 | 0 | 163740 |
| Spectrum Brands Holdings Inc. | COM | 84790A105 |  | 518001 | 8503 | SH |  | OTR | 2 | 8288 | 0 | 215 |
| State Street Corp. | COM | 857477103 |  | 418878 | 5400 | SH |  | DFND | 1 | 5400 | 0 | 0 |
| Steven Madden Ltd. | COM | 556269108 |  | 17586533 | 550267 | SH |  | DFND | 1 | 284292 | 0 | 265975 |
| Steven Madden Ltd. | COM | 556269108 |  | 374570 | 11720 | SH |  | OTR | 2 | 11483 | 0 | 237 |
| Stifel Financial Corp. | CL A | 860630102 |  | 24661675 | 422506 | SH |  | DFND | 1 | 228381 | 0 | 194125 |
| Stifel Financial Corp. | CL A | 860630102 |  | 415593 | 7120 | SH |  | OTR | 2 | 6956 | 0 | 164 |
| Stoneridge Inc. | COM | 86183P102 |  | 5096978 | 236409 | SH |  | DFND | 1 | 134354 | 0 | 102055 |
| Stoneridge Inc. | COM | 86183P102 |  | 294617 | 13665 | SH |  | OTR | 2 | 13381 | 0 | 284 |
| Strategic Education Inc. | COM | 86272C103 |  | 2058250 | 26280 | SH |  | DFND | 1 | 22130 | 0 | 4150 |
| Stride Inc. | COM | 86333M108 |  | 16587628 | 530295 | SH |  | DFND | 1 | 282565 | 0 | 247730 |
| Stride Inc. | COM | 86333M108 |  | 270728 | 8655 | SH |  | OTR | 2 | 8455 | 0 | 200 |
| Summit Hotel Properties Inc. ( | COM | 866082100 |  | 6584777 | 912019 | SH |  | DFND | 1 | 506019 | 0 | 406000 |
| Summit Hotel Properties Inc. ( | COM | 866082100 |  | 160695 | 22257 | SH |  | OTR | 2 | 21769 | 0 | 488 |
| Sylvamo Corp. | COMMON STOCK | 871332102 |  | 31341 | 645 | SH |  | DFND | 1 | 645 | 0 | 0 |
| Tapestry Inc. | COM | 876030107 |  | 17496008 | 459454 | SH |  | DFND | 1 | 251944 | 0 | 207510 |
| Tapestry Inc. | COM | 876030107 |  | 376572 | 9889 | SH |  | OTR | 2 | 9653 | 0 | 236 |
| Tetra Tech Inc. | COM | 88162G103 |  | 8581600 | 59106 | SH |  | DFND | 1 | 30991 | 0 | 28115 |
| Tetra Tech Inc. | COM | 88162G103 |  | 358763 | 2471 | SH |  | OTR | 2 | 2419 | 0 | 52 |
| TimkenSteel Corporation | COM | 887399103 |  | 17555909 | 966203 | SH |  | DFND | 1 | 500453 | 0 | 465750 |
| TimkenSteel Corporation | COM | 887399103 |  | 293571 | 16157 | SH |  | OTR | 2 | 15811 | 0 | 346 |
| Tower Semiconductor Ltd. | SHS NEW | M87915274 |  | 16915392 | 391560 | SH |  | DFND | 1 | 244220 | 0 | 147340 |
| Tower Semiconductor Ltd. | SHS NEW | M87915274 |  | 486741 | 11196 | SH |  | OTR | 2 | 10945 | 0 | 251 |
| Trane Technologies plc | SHS | G8994E103 |  | 840450 | 5000 | SH |  | DFND | 1 | 5000 | 0 | 0 |
| Travel and Leisure Co. | COM | 894164102 |  | 262080 | 7200 | SH |  | DFND | 1 | 7200 | 0 | 0 |
| Truist Financial Corp. | COM | 89832Q109 |  | 329567 | 7659 | SH |  | DFND | 1 | 7659 | 0 | 0 |
| Trustco Bank Corp NY (new) | COM NEW | 898349204 |  | 29448758 | 783420 | SH |  | DFND | 1 | 408820 | 0 | 374600 |
| Trustco Bank Corp NY (new) | COM NEW | 898349204 |  | 558060 | 14846 | SH |  | OTR | 2 | 14522 | 0 | 324 |
| U-Haul Holding Company | COM | 023586100 |  | 1509445 | 25078 | SH |  | DFND | 1 | 12133 | 0 | 12945 |
| U-Haul Holding Company | COM | 023586100 |  | 59527 | 989 | SH |  | OTR | 2 | 972 | 0 | 17 |
| U-Haul Holding Company Series | COM SER N | 023586506 |  | 13484285 | 245258 | SH |  | DFND | 1 | 128753 | 0 | 116505 |
| U-Haul Holding Company Series | COM SER N | 023586506 |  | 447811 | 8145 | SH |  | OTR | 2 | 7976 | 0 | 169 |
| Umpqua Holdings Corp. | COM | 904214103 |  | 26161156 | 1465611 | SH |  | DFND | 1 | 750411 | 0 | 715200 |
| Umpqua Holdings Corp. | COM | 904214103 |  | 474987 | 26610 | SH |  | OTR | 2 | 26003 | 0 | 607 |
| United Bankshares Inc. | COM | 909907107 |  | 7040604 | 173885 | SH |  | DFND | 1 | 85211 | 0 | 88674 |
| United Community Banks Inc. | COM | 90984P303 |  | 27810302 | 822790 | SH |  | DFND | 1 | 415690 | 0 | 407100 |
| United Community Banks Inc. | COM | 90984P303 |  | 387651 | 11469 | SH |  | OTR | 2 | 11217 | 0 | 252 |
| United Fire Group Inc. | COM | 910340108 |  | 8420013 | 307749 | SH |  | DFND | 1 | 161449 | 0 | 146300 |
| United Fire Group Inc. | COM | 910340108 |  | 237594 | 8684 | SH |  | OTR | 2 | 8506 | 0 | 178 |
| Universal Display Corp. | COM | 91347P105 |  | 13209727 | 122267 | SH |  | DFND | 1 | 68599 | 0 | 53668 |
| Universal Display Corp. | COM | 91347P105 |  | 202574 | 1875 | SH |  | OTR | 2 | 1829 | 0 | 46 |
| Urban Outfitters Inc. | COM | 917047102 |  | 17394807 | 729342 | SH |  | DFND | 1 | 392992 | 0 | 336350 |
| Urban Outfitters Inc. | COM | 917047102 |  | 374087 | 15685 | SH |  | OTR | 2 | 15305 | 0 | 380 |
| VANGUARD SM CAP VALUE ETF | SM CP VAL ETF | 922908611 |  | 385407 | 2427 | SH |  | OTR | 2 | 2427 | 0 | 0 |
| Village Super Market Inc. | CL A NEW | 927107409 |  | 13494529 | 579413 | SH |  | DFND | 1 | 332963 | 0 | 246450 |
| Village Super Market Inc. | CL A NEW | 927107409 |  | 302187 | 12975 | SH |  | OTR | 2 | 12712 | 0 | 263 |
| Visa Inc. CL A | COM | 92826C839 |  | 1724408 | 8300 | SH |  | DFND | 1 | 8300 | 0 | 0 |
| Vishay Intertechnology Inc. | COM | 928298108 |  | 24526859 | 1137082 | SH |  | DFND | 1 | 630947 | 0 | 506135 |
| Vishay Intertechnology Inc. | COM | 928298108 |  | 441817 | 20483 | SH |  | OTR | 2 | 20054 | 0 | 429 |
| Visteon Corp. | COM NEW | 92839U206 |  | 24111838 | 184299 | SH |  | DFND | 1 | 99329 | 0 | 84970 |
| Visteon Corp. | COM NEW | 92839U206 |  | 537710 | 4110 | SH |  | OTR | 2 | 4019 | 0 | 91 |
| Warner Bros. Discovery Inc. Se | COM SER A | 934423104 |  | 1138 | 120 | SH |  | DFND | 1 | 120 | 0 | 0 |
| Washington Federal Inc. | COM | 938824109 |  | 43216963 | 1288136 | SH |  | DFND | 1 | 692736 | 0 | 595400 |
| Washington Federal Inc. | COM | 938824109 |  | 848143 | 25280 | SH |  | OTR | 2 | 24724 | 0 | 556 |
| Washington Trust Bancorp Inc. | COM | 940610108 |  | 8202998 | 173866 | SH |  | DFND | 1 | 90041 | 0 | 83825 |
| Washington Trust Bancorp Inc. | COM | 940610108 |  | 274681 | 5822 | SH |  | OTR | 2 | 5707 | 0 | 115 |
| Webster Financial Corp. | COM | 947890109 |  | 40740709 | 860598 | SH |  | DFND | 1 | 459885 | 0 | 400713 |
| Webster Financial Corp. | COM | 947890109 |  | 888192 | 18762 | SH |  | OTR | 2 | 18315 | 0 | 447 |
| Western Alliance Bancorp. | COM | 957638109 |  | 9946639 | 167002 | SH |  | DFND | 1 | 80877 | 0 | 86125 |
| Western Alliance Bancorp. | COM | 957638109 |  | 260157 | 4368 | SH |  | OTR | 2 | 4269 | 0 | 99 |
| Whole Earth Brands Inc Class A | COM CL A | 96684W100 |  | 4066154 | 999055 | SH |  | DFND | 1 | 534565 | 0 | 464490 |
| Williams-Sonoma Inc. | COM | 969904101 |  | 21908923 | 190645 | SH |  | DFND | 1 | 102315 | 0 | 88330 |
| Williams-Sonoma Inc. | COM | 969904101 |  | 429915 | 3741 | SH |  | OTR | 2 | 3658 | 0 | 83 |
| Wyndham Hotels  Resorts Inc. | COM | 98311A105 |  | 513432 | 7200 | SH |  | DFND | 1 | 7200 | 0 | 0 |
| Xperi Inc. | COMMON STOCK | 98423J101 |  | 1481 | 172 | SH |  | DFND | 1 | 172 | 0 | 0 |
| Zions Bancorp N.A. | COM | 989701107 |  | 927895 | 18875 | SH |  | DFND | 1 | 16425 | 0 | 2450 |

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