# EDGAR Filing Document

**Accession Number:** 0001164833
**File Stem:** 0001172661-25-003239
**Filing Date:** 2025-8
**Character Count:** 58639
**Document Hash:** faf7db6d64ffce365e96f4b36ab7df87
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-25-003239.hdr.sgml**: 20250814

**ACCESSION NUMBER**: 0001172661-25-003239

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250814

**DATE AS OF CHANGE**: 20250813

**EFFECTIVENESS DATE**: 20250814

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC
- **CENTRAL INDEX KEY:** 0001164833

**ORGANIZATION NAME:**
- **EIN:** 954871957

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-10068
- **FILM NUMBER:** 251213773

**BUSINESS ADDRESS:**
- **STREET 1:** 601 SOUTH FIGUEROA ST 39TH FLOOR
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90017
- **BUSINESS PHONE:** 2134301000

**MAIL ADDRESS:**
- **STREET 1:** 601 SOUTH FIGUEROA ST 39TH FLOOR
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90017

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**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:** HOTCHKIS  WILEY CAPITAL MANAGEMENT LLC<br>**Address:** 601 South Figueroa St 39th Floor<br>Los Angeles, CA 90017

**Form 13F File Number:** 028-10068

**CRD Number (if applicable):** 000114649

**SEC File Number (if applicable):** 801-60512

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:** Tina H. Kodama<br>**Title:** Chief Compliance Officer<br>**Phone:** 213-430-1897

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

/s/ Tina H. Kodama  Los Angeles, CA  08-13-2025<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:** 472

**Form 13F Information Table Value Total:** $30834332652

      (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 |
| 1ST SOURCE CORP | COM | 336901103 | BBG001S5WB32 | 13151826 | 211887 | SH |  | SOLE |  | 174587 | 0 | 37300 |
| ABM INDS INC | COM | 000957100 | BBG001S5N9B8 | 9379588 | 198678 | SH |  | SOLE |  | 166178 | 0 | 32500 |
| ACADIA HEALTHCARE COMPANY IN | COM | 00404A109 | BBG001SNNWL7 | 12202909 | 537810 | SH |  | SOLE |  | 443610 | 0 | 94200 |
| ACCEL ENTERTAINMENT INC | COM CL A1 | 00436Q106 | BBG00GX221Z0 | 9317485 | 791630 | SH |  | SOLE |  | 653730 | 0 | 137900 |
| ADEIA INC | COM | 00676P107 | BBG00RBFBL78 | 10416090 | 736640 | SH |  | SOLE |  | 606440 | 0 | 130200 |
| ADIENT PLC | ORD SHS | G0084W101 | BBG009PN0C96 | 63275358 | 3251560 | SH |  | SOLE |  | 2908460 | 0 | 343100 |
| ADTALEM GLOBAL ED INC | COM | 00737L103 | BBG001S8M5S3 | 3547172 | 27880 | SH |  | SOLE |  | 23680 | 0 | 4200 |
| ADVANCE AUTO PARTS INC | COM | 00751Y106 | BBG001SD2SB2 | 8148767 | 175280 | SH |  | SOLE |  | 139380 | 0 | 35900 |
| ADVANSIX INC | COM | 00773T101 | BBG00CWTTQ32 | 6694650 | 281880 | SH |  | SOLE |  | 225480 | 0 | 56400 |
| AERSALE CORPORATION | COM | 00810F106 | BBG00R28X851 | 5425347 | 902720 | SH |  | SOLE |  | 741820 | 0 | 160900 |
| AGCO CORP | COM | 001084102 | BBG001S7WHW3 | 2364427 | 22920 | SH |  | SOLE |  | 22920 | 0 | 0 |
| ALBANY INTL CORP | CL A | 012348108 | BBG001S5VKN1 | 13050632 | 186092 | SH |  | SOLE |  | 152292 | 0 | 33800 |
| ALEXANDERS INC | COM | 014752109 | BBG001S5NM92 | 6635674 | 29450 | SH |  | SOLE |  | 24050 | 0 | 5400 |
| ALLY FINL INC | COM | 02005N100 | BBG001S5RLN4 | 7214942 | 185236 | SH |  | SOLE |  | 185236 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 | BBG009S39JY5 | 432093403 | 2451872 | SH |  | SOLE |  | 2253712 | 0 | 198160 |
| AMBAC FINL GROUP INC | COM NEW | 023139884 | BBG004HQHL91 | 5633850 | 793500 | SH |  | SOLE |  | 636700 | 0 | 156800 |
| AMDOCS LTD | SHS | G02602103 | BBG001SBX7P3 | 62532611 | 685364 | SH |  | SOLE |  | 571564 | 0 | 113800 |
| AMERANT BANCORP INC | CL A | 023576101 | BBG001V0P1S2 | 8669459 | 475560 | SH |  | SOLE |  | 396860 | 0 | 78700 |
| AMERICAN ASSETS TR INC | COM | 024013104 | BBG001TCBJS5 | 5552515 | 281140 | SH |  | SOLE |  | 225240 | 0 | 55900 |
| AMERICAN INTL GROUP INC | COM NEW | 026874784 | BBG001S5NJG1 | 719752928 | 8409311 | SH |  | SOLE |  | 7838161 | 0 | 571150 |
| AMERICAN VANGUARD CORP | COM | 030371108 | BBG001S8KSH7 | 2530046 | 645420 | SH |  | SOLE |  | 519520 | 0 | 125900 |
| AMERICAN WOODMARK CORPORATIO | COM | 030506109 | BBG001S5NQ57 | 8861555 | 166040 | SH |  | SOLE |  | 136640 | 0 | 29400 |
| AMPHASTAR PHARMACEUTICALS IN | COM | 03209R103 | BBG001SCM4W2 | 8401523 | 365920 | SH |  | SOLE |  | 296020 | 0 | 69900 |
| ANDERSONS INC | COM | 034164103 | BBG001S60FJ9 | 8552460 | 232720 | SH |  | SOLE |  | 194220 | 0 | 38500 |
| ANHEUSER BUSCH INBEV SA/NV | SPONSORED ADR | 03524A108 | BBG001T53FW2 | 84555837 | 1230440 | SH |  | SOLE |  | 1218540 | 0 | 11900 |
| ANI PHARMACEUTICALS INC | COM | 00182C103 | BBG001S9DR85 | 5651303 | 86610 | SH |  | SOLE |  | 72910 | 0 | 13700 |
| APA CORPORATION | COM | 03743Q108 | BBG00YTS96H1 | 659219008 | 36042592 | SH |  | SOLE |  | 33509876 | 0 | 2532716 |
| APOGEE ENTERPRISES INC | COM | 037598109 | BBG001S5NSY1 | 8263724 | 203540 | SH |  | SOLE |  | 171340 | 0 | 32200 |
| APOLLO COML REAL EST FIN INC | COM | 03762U105 | BBG001T55FJ5 | 6562459 | 677940 | SH |  | SOLE |  | 561640 | 0 | 116300 |
| APTIV PLC | COM SHS | G3265R107 | BBG01R914M77 | 307155911 | 4502432 | SH |  | SOLE |  | 4253632 | 0 | 248800 |
| ARES COML REAL ESTATE CORP | COM | 04013V108 | BBG0022MMR46 | 6100067 | 1278840 | SH |  | SOLE |  | 1053240 | 0 | 225600 |
| ARMSTRONG WORLD INDS INC NEW | COM | 04247X102 | BBG001SGL0H9 | 10699923 | 65870 | SH |  | SOLE |  | 54170 | 0 | 11700 |
| ARROW ELECTRS INC | COM | 042735100 | BBG001S5NVP4 | 16755388 | 131487 | SH |  | SOLE |  | 111187 | 0 | 20300 |
| ARROW FINL CORP | COM | 042744102 | BBG001S5NV83 | 3224033 | 122030 | SH |  | SOLE |  | 102130 | 0 | 19900 |
| ASBURY AUTOMOTIVE GROUP INC | COM | 043436104 | BBG001S9B5H5 | 6200132 | 25992 | SH |  | SOLE |  | 21692 | 0 | 4300 |
| ASGN INC | COM | 00191U102 | BBG001S71HP5 | 33798765 | 676923 | SH |  | SOLE |  | 590223 | 0 | 86700 |
| ASSOCIATED BANC CORP | COM | 045487105 | BBG001S5NVZ3 | 34144122 | 1399923 | SH |  | SOLE |  | 1209915 | 0 | 190008 |
| ASSURED GUARANTY LTD | COM | G0585R106 | BBG001SCBBM9 | 6389917 | 73363 | SH |  | SOLE |  | 60263 | 0 | 13100 |
| ASTRANA HEALTH INC | COM NEW | 03763A207 | BBG001S96MS2 | 7275907 | 292440 | SH |  | SOLE |  | 241040 | 0 | 51400 |
| ATKORE INC | COM | 047649108 | BBG001T8LDZ8 | 10744765 | 152300 | SH |  | SOLE |  | 127000 | 0 | 25300 |
| ATMUS FILTRATION TECHNOLOGIE | COM | 04956D107 | BBG01B079Z92 | 22327572 | 613058 | SH |  | SOLE |  | 528458 | 0 | 84600 |
| AVIAT NETWORKS INC | COM NEW | 05366Y201 | BBG001SSSZS7 | 4102209 | 170570 | SH |  | SOLE |  | 134470 | 0 | 36100 |
| AVISTA CORP | COM | 05379B107 | BBG001S5NZ48 | 33586851 | 885029 | SH |  | SOLE |  | 769629 | 0 | 115400 |
| AVNET INC | COM | 053807103 | BBG001S5NZJ2 | 101372343 | 1909803 | SH |  | SOLE |  | 1710403 | 0 | 199400 |
| AZZ INC | COM | 002474104 | BBG001S9QNK6 | 3341758 | 35370 | SH |  | SOLE |  | 27870 | 0 | 7500 |
| BAKER HUGHES COMPANY | CL A | 05722G100 | BBG00GBVBK60 | 331444277 | 8644869 | SH |  | SOLE |  | 7911069 | 0 | 733800 |
| BANC OF CALIFORNIA INC | COM | 05990K106 | BBG001SKZX56 | 12965958 | 922844 | SH |  | SOLE |  | 770529 | 0 | 152315 |
| BANCO SANTANDER S.A. | ADR | 05964H105 | BBG001S5WCX7 | 495344 | 59680 | SH |  | SOLE |  | 59680 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 | BBG001S5P0Y0 | 266740285 | 5636946 | SH |  | SOLE |  | 5230546 | 0 | 406400 |
| BANK MARIN BANCORP | COM | 063425102 | BBG001S7WFM8 | 3367758 | 147450 | SH |  | SOLE |  | 123750 | 0 | 23700 |
| BANK NEW YORK MELLON CORP | COM | 064058100 | BBG001S5P6Q6 | 11477127 | 125970 | SH |  | SOLE |  | 97170 | 0 | 28800 |
| BANK OF NT BUTTERFIELD L | SHS NEW | G0772R208 | BBG001S7BGZ5 | 42746584 | 965370 | SH |  | SOLE |  | 858170 | 0 | 107200 |
| BANKUNITED INC | COM | 06652K103 | BBG001T5W6B3 | 13544629 | 380574 | SH |  | SOLE |  | 311274 | 0 | 69300 |
| BAYCOM CORP | COM | 07272M107 | BBG00FWKRCJ0 | 3487026 | 125840 | SH |  | SOLE |  | 110040 | 0 | 15800 |
| BAYTEX ENERGY CORP | COM | 07317Q105 | BBG001S998N5 | 23806123 | 13299510 | SH |  | SOLE |  | 11605488 | 0 | 1694022 |
| BEAZER HOMES USA INC | COM NEW | 07556Q881 | BBG001S76DH8 | 3148578 | 140750 | SH |  | SOLE |  | 115450 | 0 | 25300 |
| BELDEN INC | COM | 077454106 | BBG001SM6Z59 | 3564903 | 30785 | SH |  | SOLE |  | 25685 | 0 | 5100 |
| BERKSHIRE HILLS BANCORP INC | COM | 084680107 | BBG001S5PSK4 | 9390000 | 375000 | SH |  | SOLE |  | 311700 | 0 | 63300 |
| BERRY CORP | COM | 08579X101 | BBG00H5HHVK0 | 5371418 | 1939140 | SH |  | SOLE |  | 1733640 | 0 | 205500 |
| BLACK HILLS CORP | COM | 092113109 | BBG001S5P6X8 | 21772691 | 388105 | SH |  | SOLE |  | 332405 | 0 | 55700 |
| BLOOMIN BRANDS INC | COM | 094235108 | BBG002VZ69Q9 | 12228740 | 1420295 | SH |  | SOLE |  | 1179295 | 0 | 241000 |
| BLUE BIRD CORP | COM | 095306106 | BBG006427TN1 | 8439938 | 195550 | SH |  | SOLE |  | 160050 | 0 | 35500 |
| BOEING CO | COM | 097023105 | BBG001S5P0V3 | 178822750 | 853447 | SH |  | SOLE |  | 845247 | 0 | 8200 |
| BOEING CO | DEP CONV PFD A | 097023204 |  | 11989896 | 176322 | SH |  | SOLE |  | 173096 | 0 | 3226 |
| BORGWARNER INC | COM | 099724106 | BBG001S7F4D2 | 92032469 | 2748879 | SH |  | SOLE |  | 2712979 | 0 | 35900 |
| BRADY CORP | CL A | 104674106 | BBG001S5PCB9 | 3112346 | 45790 | SH |  | SOLE |  | 39590 | 0 | 6200 |
| BREAD FINANCIAL HOLDINGS INC | COM | 018581108 | BBG001S78Z50 | 14729534 | 257870 | SH |  | SOLE |  | 215170 | 0 | 42700 |
| BRIDGEWATER BANCSHARES INC | COM | 108621103 | BBG001SQNYQ1 | 4465603 | 280679 | SH |  | SOLE |  | 242679 | 0 | 38000 |
| BRIGHTSPIRE CAPITAL INC | COM CL A | 10949T109 | BBG00JVRRR41 | 6742947 | 1335237 | SH |  | SOLE |  | 1081830 | 0 | 253407 |
| BRINKS CO | COM | 109696104 | BBG001S8PZK2 | 39665565 | 444233 | SH |  | SOLE |  | 394133 | 0 | 50100 |
| BROOKLINE BANCORP INC DEL | COM | 11373M107 | BBG001S73383 | 12432901 | 1178474 | SH |  | SOLE |  | 961074 | 0 | 217400 |
| BRUNSWICK CORP | COM | 117043109 | BBG001S5P294 | 13627929 | 246704 | SH |  | SOLE |  | 200904 | 0 | 45800 |
| BURKE HERBERT FINL SVCS CORP | COM | 12135Y108 | BBG019X33P61 | 6689760 | 112000 | SH |  | SOLE |  | 92800 | 0 | 19200 |
| CABOT CORP | COM | 127055101 | BBG001S5PK58 | 5910825 | 78811 | SH |  | SOLE |  | 66511 | 0 | 12300 |
| CACTUS INC | CL A | 127203107 | BBG00JRH1Q02 | 6730257 | 153940 | SH |  | SOLE |  | 126540 | 0 | 27400 |
| CALIFORNIA BANCORP | COM | 84252A106 | BBG001SMZ5M4 | 3512746 | 222890 | SH |  | SOLE |  | 184490 | 0 | 38400 |
| CALIFORNIA RES CORP | COM STOCK | 13057Q305 | BBG00Y04KQ51 | 11227970 | 245850 | SH |  | SOLE |  | 217650 | 0 | 28200 |
| CAMDEN NATL CORP | COM | 133034108 | BBG001S5PGN7 | 6607885 | 162836 | SH |  | SOLE |  | 136936 | 0 | 25900 |
| CAPITAL BANCORP INC MD | COM | 139737100 | BBG001SMZRH2 | 3833493 | 114160 | SH |  | SOLE |  | 91960 | 0 | 22200 |
| CAPITAL ONE FINL CORP | COM | 14040H105 | BBG001S65PV8 | 224634987 | 1055814 | SH |  | SOLE |  | 1002014 | 0 | 53800 |
| CAPITOL FED FINL INC | COM | 14057J101 | BBG001SBWDX2 | 13602512 | 2229920 | SH |  | SOLE |  | 1821820 | 0 | 408100 |
| CAPRI HOLDINGS LIMITED | SHS | G1890L107 | BBG0029SNS07 | 1923990 | 108700 | SH |  | SOLE |  | 108700 | 0 | 0 |
| CARNIVAL CORP | UNIT 99/99/9999 | 143658300 | BBG001S5PL01 | 596144 | 21200 | SH |  | SOLE |  | 21200 | 0 | 0 |
| CARTER BANKSHARES INC | COM NEW | 146103106 | BBG00Y9DFYK4 | 3693767 | 213020 | SH |  | SOLE |  | 171320 | 0 | 41700 |
| CARTERS INC | COM | 146229109 | BBG001SCJ3Q5 | 4825320 | 160150 | SH |  | SOLE |  | 133850 | 0 | 26300 |
| CASS INFORMATION SYS INC | COM | 14808P109 | BBG001S5VK42 | 6925496 | 159390 | SH |  | SOLE |  | 134990 | 0 | 24400 |
| CATHAY GEN BANCORP | COM | 149150104 | BBG001S6PB10 | 7589805 | 166699 | SH |  | SOLE |  | 140999 | 0 | 25700 |
| CENTENE CORP DEL | COM | 15135B101 | BBG001S6T7Q8 | 144595135 | 2663875 | SH |  | SOLE |  | 2630675 | 0 | 33200 |
| CENTRAL GARDEN  PET CO | COM | 153527106 | BBG001S5PNG0 | 6210677 | 176540 | SH |  | SOLE |  | 144940 | 0 | 31600 |
| CENTRAL PAC FINL CORP | COM NEW | 154760409 | BBG001S5Q2C9 | 9992975 | 356510 | SH |  | SOLE |  | 295910 | 0 | 60600 |
| CENTURY CMNTYS INC | COM | 156504300 | BBG006G413H4 | 5226496 | 92800 | SH |  | SOLE |  | 76100 | 0 | 16700 |
| CITIGROUP INC | COM NEW | 172967424 | BBG001S72ZG4 | 923270934 | 10846698 | SH |  | SOLE |  | 10101921 | 0 | 744777 |
| CITIZENS FINL GROUP INC | COM | 174610105 | BBG006Q0HZT0 | 381436246 | 8523715 | SH |  | SOLE |  | 8063996 | 0 | 459719 |
| CIVISTA BANCSHARES INC | COM NO PAR | 178867107 | BBG001S91FV8 | 3925208 | 169190 | SH |  | SOLE |  | 134990 | 0 | 34200 |
| CLAROS MTG TR INC | COMMON STOCK | 18270D106 | BBG00PT33814 | 3343877 | 1173290 | SH |  | SOLE |  | 965590 | 0 | 207700 |
| CNB FINL CORP PA | COM | 126128107 | BBG001S80QZ3 | 6443777 | 281880 | SH |  | SOLE |  | 233680 | 0 | 48200 |
| CNH INDL N V | SHS | N20944109 | BBG0059JSF67 | 288085041 | 22228784 | SH |  | SOLE |  | 20667671 | 0 | 1561113 |
| CNO FINL GROUP INC | COM | 12621E103 | BBG001SBR6X3 | 11819870 | 306373 | SH |  | SOLE |  | 250710 | 0 | 55663 |
| COGNIZANT TECHNOLOGY SOLUTIO | CL A | 192446102 | BBG001S5STN6 | 84057193 | 1077242 | SH |  | SOLE |  | 1061642 | 0 | 15600 |
| COLUMBIA BKG SYS INC | COM | 197236102 | BBG001S72GJ3 | 9320951 | 398672 | SH |  | SOLE |  | 324672 | 0 | 74000 |
| COLUMBUS MCKINNON CORP N Y | COM | 199333105 | BBG001S5VFS7 | 6330942 | 414600 | SH |  | SOLE |  | 342100 | 0 | 72500 |
| COMCAST CORP NEW | CL A | 20030N101 | BBG001S5PXL2 | 747848153 | 20953997 | SH |  | SOLE |  | 19351091 | 0 | 1602906 |
| COMERICA INC | COM | 200340107 | BBG001S6PXB1 | 4249227 | 71236 | SH |  | SOLE |  | 71236 | 0 | 0 |
| COMMUNITY TR BANCORP INC | COM | 204149108 | BBG001S9F6J7 | 6651726 | 125694 | SH |  | SOLE |  | 105446 | 0 | 20248 |
| CONAGRA BRANDS INC | COM | 205887102 | BBG001S5PGY5 | 122674724 | 5992903 | SH |  | SOLE |  | 5489203 | 0 | 503700 |
| CONCENTRA GROUP HOLDINGS PAR | COMMON STOCK | 20603L102 | BBG01NBZ7R83 | 9002234 | 437639 | SH |  | SOLE |  | 361092 | 0 | 76547 |
| CONNECTONE BANCORP INC | COM | 20786W107 | BBG001S6YLR0 | 14978429 | 646737 | SH |  | SOLE |  | 524467 | 0 | 122270 |
| CONOCOPHILLIPS | COM | 20825C104 | BBG001S5TZM2 | 184911065 | 2060520 | SH |  | SOLE |  | 1921064 | 0 | 139456 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 | BBG001SD31G5 | 213584199 | 1312910 | SH |  | SOLE |  | 1280310 | 0 | 32600 |
| CONSTELLIUM SE | CL A SHS | F21107101 | BBG004K5PKF9 | 5112121 | 384370 | SH |  | SOLE |  | 312270 | 0 | 72100 |
| CORE LABORATORIES INC | COM | 21867A105 | BBG01GG28WT1 | 5274662 | 457870 | SH |  | SOLE |  | 365470 | 0 | 92400 |
| COREBRIDGE FINL INC | COM | 21871X109 | BBG016HJ8836 | 273202924 | 7695857 | SH |  | SOLE |  | 7295257 | 0 | 400600 |
| CORNING INC | COM | 219350105 | BBG001S5RLH1 | 34864646 | 662952 | SH |  | SOLE |  | 555546 | 0 | 107406 |
| CRANE NXT CO | COM | 224441105 | BBG017BXPZ94 | 13648396 | 253217 | SH |  | SOLE |  | 213717 | 0 | 39500 |
| CRESCENT ENERGY COMPANY | CL A COM | 44952J104 | BBG013THLJ08 | 21433101 | 2492221 | SH |  | SOLE |  | 2203046 | 0 | 289175 |
| CUMMINS INC | COM | 231021106 | BBG001S5Q9M3 | 501971695 | 1532738 | SH |  | SOLE |  | 1410744 | 0 | 121994 |
| CUSHMAN WAKEFIELD PLC | SHS | G2717B108 | BBG00L7XVP49 | 15343994 | 1386088 | SH |  | SOLE |  | 1179188 | 0 | 206900 |
| CVR ENERGY INC | COM | 12662P108 | BBG001SM6PD2 | 15505338 | 577480 | SH |  | SOLE |  | 485380 | 0 | 92100 |
| CVS HEALTH CORP | COM | 126650100 | BBG001S5QBD8 | 382372971 | 5543244 | SH |  | SOLE |  | 5135974 | 0 | 407270 |
| DAVE  BUSTERS ENTMT INC | COM | 238337109 | BBG001WWJTL4 | 4136000 | 137500 | SH |  | SOLE |  | 110000 | 0 | 27500 |
| DEERE  CO | COM | 244199105 | BBG001S5QFF7 | 103121772 | 202800 | SH |  | SOLE |  | 200100 | 0 | 2700 |
| DELEK US HLDGS INC NEW | COM | 24665A103 | BBG00FZYFVD4 | 16854620 | 795780 | SH |  | SOLE |  | 667280 | 0 | 128500 |
| DENNYS CORP | COM | 24869P104 | BBG001S5YGR3 | 9499659 | 2316990 | SH |  | SOLE |  | 1918790 | 0 | 398200 |
| DIAMOND HILL INVT GROUP INC | COM NEW | 25264R207 | BBG001SCH7V2 | 6560020 | 45145 | SH |  | SOLE |  | 37145 | 0 | 8000 |
| DIAMONDROCK HOSPITALITY CO | COM | 252784301 | BBG001SJ63M8 | 9676572 | 1263260 | SH |  | SOLE |  | 1028760 | 0 | 234500 |
| DIME CMNTY BANCSHARES INC | COM | 25432X102 | BBG001S7NTQ4 | 5914138 | 219530 | SH |  | SOLE |  | 182330 | 0 | 37200 |
| DIODES INC | COM | 254543101 | BBG001SCJ937 | 8616892 | 162921 | SH |  | SOLE |  | 134021 | 0 | 28900 |
| DOMINION ENERGY INC | COM | 25746U109 | BBG001S5QCP3 | 662745946 | 11725866 | SH |  | SOLE |  | 10660066 | 0 | 1065800 |
| DOUGLAS DYNAMICS INC | COM | 25960R105 | BBG001T6QFV6 | 11387208 | 386400 | SH |  | SOLE |  | 330500 | 0 | 55900 |
| DOUGLAS ELLIMAN INC | COM | 25961D105 | BBG013ZGQFH8 | 4203469 | 1811840 | SH |  | SOLE |  | 1512640 | 0 | 299200 |
| EAGLE BANCORP INC MD | COM | 268948106 | BBG001SBX1Z5 | 11925072 | 612170 | SH |  | SOLE |  | 505270 | 0 | 106900 |
| ECOVYST INC | COM | 27923Q109 | BBG00GX8YLD2 | 92330683 | 11218795 | SH |  | SOLE |  | 10093395 | 0 | 1125400 |
| EDGEWELL PERS CARE CO | COM | 28035Q102 | BBG001SF1XY2 | 4718051 | 201540 | SH |  | SOLE |  | 170740 | 0 | 30800 |
| EL POLLO LOCO HLDGS INC | COM | 268603107 | BBG001SQ0C48 | 6815080 | 618990 | SH |  | SOLE |  | 519890 | 0 | 99100 |
| ELEVANCE HEALTH INC | COM | 036752103 | BBG001S6KBQ8 | 551717200 | 1418442 | SH |  | SOLE |  | 1302315 | 0 | 116127 |
| EMERALD HOLDING INC | COM | 29103W104 | BBG00GCTWW65 | 3205297 | 660886 | SH |  | SOLE |  | 521686 | 0 | 139200 |
| EMPIRE ST RLTY TR INC | CL A | 292104106 | BBG002N8HMX9 | 11636899 | 1438430 | SH |  | SOLE |  | 1134530 | 0 | 303900 |
| EMPLOYERS HLDGS INC | COM | 292218104 | BBG001SMM101 | 8953585 | 189775 | SH |  | SOLE |  | 157375 | 0 | 32400 |
| ENACT HLDGS INC | COM | 29249E109 | BBG00WSNP4S2 | 12543698 | 337650 | SH |  | SOLE |  | 274750 | 0 | 62900 |
| ENERGIZER HLDGS INC NEW | COM | 29272W109 | BBG006FCB028 | 4924483 | 244270 | SH |  | SOLE |  | 202070 | 0 | 42200 |
| ENNIS INC | COM | 293389102 | BBG001S5QQS9 | 3150555 | 173680 | SH |  | SOLE |  | 144380 | 0 | 29300 |
| ENSTAR GROUP LIMITED | SHS | G3075P101 | BBG001SKW104 | 8620570 | 25629 | SH |  | SOLE |  | 24769 | 0 | 860 |
| ENTERPRISE FINL SVCS CORP | COM | 293712105 | BBG001SKJVR4 | 9982467 | 181170 | SH |  | SOLE |  | 147370 | 0 | 33800 |
| ENVISTA HOLDINGS CORPORATION | COM | 29415F104 | BBG00LN4B6D9 | 7167272 | 366800 | SH |  | SOLE |  | 303000 | 0 | 63800 |
| EPLUS INC | COM | 294268107 | BBG001S99YL0 | 10675414 | 148064 | SH |  | SOLE |  | 123064 | 0 | 25000 |
| ESSENT GROUP LTD | COM | G3198U102 | BBG0058YL868 | 13042253 | 214758 | SH |  | SOLE |  | 175758 | 0 | 39000 |
| EURONET WORLDWIDE INC | COM | 298736109 | BBG001S9DW39 | 94050936 | 927707 | SH |  | SOLE |  | 748807 | 0 | 178900 |
| EVERCORE INC | CLASS A | 29977A105 | BBG001SC3S41 | 8092499 | 29970 | SH |  | SOLE |  | 26670 | 0 | 3300 |
| EXCELERATE ENERGY INC | CL A COM | 30069T101 | BBG014GJSS81 | 6839476 | 233270 | SH |  | SOLE |  | 190970 | 0 | 42300 |
| EXPRO GROUP HOLDINGS NV | COM | N3144W105 | BBG004K27PR2 | 20943940 | 2438177 | SH |  | SOLE |  | 2093928 | 0 | 344249 |
| F ANNUITIES  LIFE INC | COMMON STOCK | 30190A104 | BBG01BGVGH85 | 11157182 | 348880 | SH |  | SOLE |  | 288180 | 0 | 60700 |
| F5 INC | COM | 315616102 | BBG001SCP8D1 | 1539058144 | 5229200 | SH |  | SOLE |  | 4783910 | 0 | 445290 |
| FARMERS NATIONAL BANC CORP | COM | 309627107 | BBG001S7S1W3 | 2130652 | 154507 | SH |  | SOLE |  | 133243 | 0 | 21264 |
| FEDERATED HERMES INC | CL B | 314211103 | BBG001S6TGK4 | 13610539 | 307097 | SH |  | SOLE |  | 250097 | 0 | 57000 |
| FEDEX CORP | COM | 31428X106 | BBG001S5R3M5 | 480192148 | 2112499 | SH |  | SOLE |  | 1971739 | 0 | 140760 |
| FIDELITY NATL INFORMATION SV | COM | 31620M106 | BBG001S8SWQ0 | 337427517 | 4144792 | SH |  | SOLE |  | 3831792 | 0 | 313000 |
| FINANCIAL INSTNS INC | COM | 317585404 | BBG001SCY2P1 | 9867489 | 384248 | SH |  | SOLE |  | 319648 | 0 | 64600 |
| FIRST BUSEY CORP | COM NEW | 319383204 | BBG001SBH5P5 | 13257898 | 579327 | SH |  | SOLE |  | 477518 | 0 | 101809 |
| FIRST CTZNS BANCSHARES INC N | CL A | 31946M103 | BBG001S5R2V7 | 190423225 | 97330 | SH |  | SOLE |  | 96065 | 0 | 1265 |
| FIRST FINANCIAL CORPORATION | COM | 320218100 | BBG001S6TD85 | 7410320 | 136747 | SH |  | SOLE |  | 112747 | 0 | 24000 |
| FIRST FNDTN INC | COM | 32026V104 | BBG001V9VY13 | 9153133 | 1794732 | SH |  | SOLE |  | 1492932 | 0 | 301800 |
| FIRST HAWAIIAN INC | COM | 32051X108 | BBG0046LJYX7 | 77648214 | 3110906 | SH |  | SOLE |  | 2731106 | 0 | 379800 |
| FIRST HORIZON CORPORATION | COM | 320517105 | BBG001SCW8R8 | 4000949 | 188724 | SH |  | SOLE |  | 188724 | 0 | 0 |
| FIRST INTERNET BANCORP | COM | 320557101 | BBG001SJZH45 | 3947979 | 146765 | SH |  | SOLE |  | 127265 | 0 | 19500 |
| FIRST INTST BANCSYSTEM INC | COM | 32055Y201 | BBG001S9F1B6 | 9916097 | 344070 | SH |  | SOLE |  | 288270 | 0 | 55800 |
| FIRST MERCHANTS CORP | COM | 320817109 | BBG001S5NNS9 | 3499011 | 91358 | SH |  | SOLE |  | 77627 | 0 | 13731 |
| FIRST MID ILL BANCSHARES INC | COM | 320866106 | BBG001S704Q4 | 3697264 | 98620 | SH |  | SOLE |  | 83520 | 0 | 15100 |
| FIVE STAR BANCORP | COM | 33830T103 | BBG001SN0V52 | 1413872 | 49540 | SH |  | SOLE |  | 43040 | 0 | 6500 |
| FLAGSTAR FINANCIAL INC | COM NEW | 649445400 | BBG001SD32Z2 | 11609141 | 1095202 | SH |  | SOLE |  | 907602 | 0 | 187600 |
| FLUOR CORP NEW | COM | 343412102 | BBG001S5Q738 | 186709805 | 3641697 | SH |  | SOLE |  | 3366097 | 0 | 275600 |
| FLUSHING FINL CORP | COM | 343873105 | BBG001S7KQM7 | 11859067 | 998238 | SH |  | SOLE |  | 810638 | 0 | 187600 |
| FORRESTER RESH INC | COM | 346563109 | BBG001S98HN6 | 2749527 | 277730 | SH |  | SOLE |  | 223130 | 0 | 54600 |
| FORTIVE CORP | COM | 34959J108 | BBG00BLVZ237 | 63436997 | 1216900 | SH |  | SOLE |  | 1200800 | 0 | 16100 |
| FOSTER L B CO | COM | 350060109 | BBG001S7HS29 | 3752892 | 171600 | SH |  | SOLE |  | 141300 | 0 | 30300 |
| FOX FACTORY HLDG CORP | COM | 35138V102 | BBG004T7VS71 | 10515038 | 405360 | SH |  | SOLE |  | 329960 | 0 | 75400 |
| FRANKLIN COVEY CO | COM | 353469109 | BBG001SB0L96 | 2973218 | 130290 | SH |  | SOLE |  | 108990 | 0 | 21300 |
| G III APPAREL GROUP LTD | COM | 36237H101 | BBG001S6F0Z8 | 5307904 | 236960 | SH |  | SOLE |  | 194760 | 0 | 42200 |
| GATES INDL CORP PLC | ORD SHS | G39108108 | BBG00JM9V7T3 | 11704767 | 508240 | SH |  | SOLE |  | 434740 | 0 | 73500 |
| GE HEALTHCARE TECHNOLOGIES I | COMMON STOCK | 36266G107 | BBG01BFR8YW0 | 533270372 | 7199546 | SH |  | SOLE |  | 6574457 | 0 | 625089 |
| GENERAL DYNAMICS CORP | COM | 369550108 | BBG001S5RHP1 | 160883156 | 551612 | SH |  | SOLE |  | 538912 | 0 | 12700 |
| GENERAL MLS INC | COM | 370334104 | BBG001S5RKR2 | 27038344 | 521875 | SH |  | SOLE |  | 428275 | 0 | 93600 |
| GENERAL MTRS CO | COM | 37045V100 | BBG001SM1DK6 | 628542894 | 12772666 | SH |  | SOLE |  | 11826629 | 0 | 946037 |
| GENTEX CORP | COM | 371901109 | BBG001S5RMR8 | 12626570 | 574196 | SH |  | SOLE |  | 481896 | 0 | 92300 |
| GLOBAL INDEMNITY GROUP LLC | COM CL A | 37959R103 | BBG004M233J2 | 30969976 | 987563 | SH |  | SOLE |  | 879235 | 0 | 108328 |
| GLOBAL INDUSTRIAL COMPANY | COM | 37892E102 | BBG001S9NZ95 | 11405081 | 422254 | SH |  | SOLE |  | 350827 | 0 | 71427 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 | BBG001SC07Z6 | 106689774 | 150745 | SH |  | SOLE |  | 131828 | 0 | 18917 |
| GOODYEAR TIRE  RUBR CO | COM | 382550101 | BBG001S5RQ62 | 8307303 | 801090 | SH |  | SOLE |  | 683890 | 0 | 117200 |
| GRANITE PT MTG TR INC | COM STK | 38741L107 | BBG00GSR1C51 | 3566277 | 1443837 | SH |  | SOLE |  | 1172237 | 0 | 271600 |
| GREAT SOUTHN BANCORP INC | COM | 390905107 | BBG001S6DWN3 | 6916055 | 117660 | SH |  | SOLE |  | 96760 | 0 | 20900 |
| GREEN BRICK PARTNERS INC | COM | 392709101 | BBG001SS5LM9 | 6840778 | 108791 | SH |  | SOLE |  | 87991 | 0 | 20800 |
| GREENBRIER COS INC | COM | 393657101 | BBG001S80QK9 | 21460774 | 466032 | SH |  | SOLE |  | 396570 | 0 | 69462 |
| GROUP 1 AUTOMOTIVE INC | COM | 398905109 | BBG001S5RNK3 | 9471366 | 21688 | SH |  | SOLE |  | 17988 | 0 | 3700 |
| GSK PLC | SPONSORED ADR | 37733W204 | BBG001SD6SM6 | 174974246 | 4556621 | SH |  | SOLE |  | 4127204 | 0 | 429417 |
| H2O AMERICA | COM | 784305104 | BBG001S5W3N8 | 11718715 | 225490 | SH |  | SOLE |  | 188890 | 0 | 36600 |
| HAIN CELESTIAL GROUP INC | COM | 405217100 | BBG001SBCKV0 | 1733748 | 1140624 | SH |  | SOLE |  | 1140624 | 0 | 0 |
| HALLIBURTON CO | COM | 406216101 | BBG001S5RS59 | 1743957 | 85572 | SH |  | SOLE |  | 85572 | 0 | 0 |
| HANMI FINL CORP | COM NEW | 410495204 | BBG001SFGJ31 | 13514990 | 547609 | SH |  | SOLE |  | 453709 | 0 | 93900 |
| HANOVER INS GROUP INC | COM | 410867105 | BBG001S8KZF3 | 12510076 | 73645 | SH |  | SOLE |  | 60745 | 0 | 12900 |
| HARLEY DAVIDSON INC | COM | 412822108 | BBG001S5RTY5 | 12235231 | 518442 | SH |  | SOLE |  | 428942 | 0 | 89500 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 | BBG001S8PXF3 | 269461604 | 2123919 | SH |  | SOLE |  | 1952419 | 0 | 171500 |
| HAVERTY FURNITURE COS INC | COM | 419596101 | BBG001SBYDJ6 | 10606217 | 521190 | SH |  | SOLE |  | 426490 | 0 | 94700 |
| HCA HEALTHCARE INC | COM | 40412C101 | BBG001T8NTY2 | 300582942 | 784607 | SH |  | SOLE |  | 736507 | 0 | 48100 |
| HEALTHCARE SVCS GROUP INC | COM | 421906108 | BBG001S5RTV8 | 16083152 | 1070070 | SH |  | SOLE |  | 914870 | 0 | 155200 |
| HEARTLAND EXPRESS INC | COM | 422347104 | BBG001S5S1D8 | 5767891 | 667580 | SH |  | SOLE |  | 554180 | 0 | 113400 |
| HEIDRICK  STRUGGLES INTL IN | COM | 422819102 | BBG001SCQ2H9 | 10738087 | 234661 | SH |  | SOLE |  | 191661 | 0 | 43000 |
| HELEN OF TROY LTD | COM | G4388N106 | BBG001S5RVH9 | 7748308 | 273020 | SH |  | SOLE |  | 225420 | 0 | 47600 |
| HERBALIFE LTD | COM SHS | G4412G101 | BBG001SKFKY4 | 5016064 | 581910 | SH |  | SOLE |  | 562810 | 0 | 19100 |
| HERITAGE COMM CORP | COM | 426927109 | BBG001SBY8P0 | 13463491 | 1355840 | SH |  | SOLE |  | 1129340 | 0 | 226500 |
| HERITAGE FINL CORP WASH | COM | 42722X106 | BBG001SBJ270 | 6769845 | 283970 | SH |  | SOLE |  | 232770 | 0 | 51200 |
| HILLENBRAND INC | COM | 431571108 | BBG001STH2P3 | 11403413 | 568182 | SH |  | SOLE |  | 462282 | 0 | 105900 |
| HILLTOP HOLDINGS INC | COM | 432748101 | BBG001SH9HH4 | 12708152 | 418720 | SH |  | SOLE |  | 346020 | 0 | 72700 |
| HILTON GRAND VACATIONS INC | COM | 43283X105 | BBG00CBYY6L2 | 14084069 | 339130 | SH |  | SOLE |  | 286730 | 0 | 52400 |
| HINGHAM INSTN SVGS MASS | COM | 433323102 | BBG001S614T2 | 9678200 | 38970 | SH |  | SOLE |  | 32270 | 0 | 6700 |
| HOME BANCORP INC | COM | 43689E107 | BBG001ST9B63 | 3754412 | 72507 | SH |  | SOLE |  | 60060 | 0 | 12447 |
| HOMESTREET INC | COM | 43785V102 | BBG001V190V6 | 3303704 | 252770 | SH |  | SOLE |  | 199270 | 0 | 53500 |
| HOPE BANCORP INC | COM | 43940T109 | BBG001S8F2H0 | 13310436 | 1240488 | SH |  | SOLE |  | 1013488 | 0 | 227000 |
| HORACE MANN EDUCATORS CORP N | COM | 440327104 | BBG001S5RY01 | 36155173 | 841405 | SH |  | SOLE |  | 728401 | 0 | 113004 |
| HORIZON BANCORP INC | COM | 440407104 | BBG001S7SGW0 | 9782910 | 636080 | SH |  | SOLE |  | 515480 | 0 | 120600 |
| HUDSON GLOBAL INC | COM NEW | 443787205 | BBG001SGFTT0 | 2497898 | 293525 | SH |  | SOLE |  | 247725 | 0 | 45800 |
| HUMANA INC | COM | 444859102 | BBG001S5S1X6 | 339447278 | 1388446 | SH |  | SOLE |  | 1274616 | 0 | 113830 |
| HUNTINGTON INGALLS INDS INC | COM | 446413106 | BBG001V0PDL3 | 59597157 | 246820 | SH |  | SOLE |  | 225120 | 0 | 21700 |
| HUNTSMAN CORP | COM | 447011107 | BBG001SKWX22 | 9097139 | 873046 | SH |  | SOLE |  | 754146 | 0 | 118900 |
| HURON CONSULTING GROUP INC | COM | 447462102 | BBG001SLSXM3 | 5760175 | 41880 | SH |  | SOLE |  | 34580 | 0 | 7300 |
| INDEPENDENT BK CORP MASS | COM | 453836108 | BBG001S5S8F1 | 10220070 | 162520 | SH |  | SOLE |  | 133120 | 0 | 29400 |
| INGEVITY CORP | COM | 45688C107 | BBG009LM2988 | 7177070 | 166560 | SH |  | SOLE |  | 136160 | 0 | 30400 |
| INMODE LTD | SHS | M5425M103 | BBG00PPS74F3 | 11810765 | 817920 | SH |  | SOLE |  | 673520 | 0 | 144400 |
| INNOSPEC INC | COM | 45768S105 | BBG001S8RTD2 | 5906061 | 70235 | SH |  | SOLE |  | 59135 | 0 | 11100 |
| INNOVEX INTERNATIONAL INC | COM | 457651107 | BBG001SB9LK4 | 12183444 | 779990 | SH |  | SOLE |  | 642490 | 0 | 137500 |
| INSPERITY INC | COM | 45778Q107 | BBG001S894P4 | 9812065 | 163208 | SH |  | SOLE |  | 136008 | 0 | 27200 |
| INSTEEL INDS INC | COM | 45774W108 | BBG001SK9GV3 | 7007387 | 188320 | SH |  | SOLE |  | 158920 | 0 | 29400 |
| INTERFACE INC | COM | 458665304 | BBG001S5S5S3 | 3254406 | 155490 | SH |  | SOLE |  | 119790 | 0 | 35700 |
| INTERNATIONAL GAME TECHNOLOG | SHS USD | G4863A108 | BBG0081VHTQ2 | 22252701 | 1407508 | SH |  | SOLE |  | 1216108 | 0 | 191400 |
| INTERNATIONAL MNY EXPRESS IN | COM | 46005L101 | BBG00G6D5NH5 | 7148462 | 708470 | SH |  | SOLE |  | 585370 | 0 | 123100 |
| INTERNATIONAL SEAWAYS INC | COM | Y41053102 | BBG003MN93D8 | 6740045 | 184760 | SH |  | SOLE |  | 154260 | 0 | 30500 |
| INTERPARFUMS INC | COM | 458334109 | BBG001SD06N9 | 3758092 | 28620 | SH |  | SOLE |  | 23920 | 0 | 4700 |
| IPG PHOTONICS CORP | COM | 44980X109 | BBG001SG95B8 | 11352307 | 165365 | SH |  | SOLE |  | 136165 | 0 | 29200 |
| ISHARES TR | MSCI USA MMENTM | 46432F396 | BBG004FPV022 | 1562080 | 6500 | SH | Put | SOLE |  | 6500 | 0 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 | BBG001S8MLN3 | 423600 | 4800 | SH |  | SOLE |  | 4800 | 0 | 0 |
| ITRON INC | COM | 465741106 | BBG001S6DJQ9 | 7844490 | 59595 | SH |  | SOLE |  | 50295 | 0 | 9300 |
| JANUS INTERNATIONAL GROUP IN | COMMON STOCK | 47103N106 | BBG0100SH2D9 | 13467386 | 1654470 | SH |  | SOLE |  | 1384970 | 0 | 269500 |
| JAZZ PHARMACEUTICALS PLC | SHS USD | G50871105 | BBG001SNW8K1 | 3158131 | 29760 | SH |  | SOLE |  | 29760 | 0 | 0 |
| JELD-WEN HLDG INC | COM | 47580P103 | BBG001TG2G57 | 6941654 | 1770830 | SH |  | SOLE |  | 1487330 | 0 | 283500 |
| JOHNSON OUTDOORS INC | CL A | 479167108 | BBG001SD39D1 | 7182466 | 237280 | SH |  | SOLE |  | 194280 | 0 | 43000 |
| JONES LANG LASALLE INC | COM | 48020Q107 | BBG001SCLGS1 | 106601942 | 416772 | SH |  | SOLE |  | 351572 | 0 | 65200 |
| KB HOME | COM | 48666K109 | BBG001S5SJV9 | 5894290 | 111276 | SH |  | SOLE |  | 91776 | 0 | 19500 |
| KEARNY FINL CORP MD | COM | 48716P108 | BBG008N1HXQ5 | 9468293 | 1465680 | SH |  | SOLE |  | 1216880 | 0 | 248800 |
| KEMPER CORP | COM | 488401100 | BBG001SD3BG3 | 13374366 | 207226 | SH |  | SOLE |  | 169626 | 0 | 37600 |
| KENNAMETAL INC | COM | 489170100 | BBG001S5SM97 | 7258804 | 316150 | SH |  | SOLE |  | 263150 | 0 | 53000 |
| KEYCORP | COM | 493267108 | BBG001S5SKV6 | 2247877 | 129040 | SH |  | SOLE |  | 129040 | 0 | 0 |
| KFORCE INC | COM | 493732101 | BBG001SCQRF6 | 11260201 | 273771 | SH |  | SOLE |  | 224371 | 0 | 49400 |
| KIMBALL ELECTRONICS INC | COM | 49428J109 | BBG001TCYZ77 | 8270631 | 430090 | SH |  | SOLE |  | 357490 | 0 | 72600 |
| KNIFE RIVER CORP | COMMON STOCK | 498894104 | BBG002N3N2W8 | 8069298 | 98840 | SH |  | SOLE |  | 81240 | 0 | 17600 |
| KORN FERRY | COM NEW | 500643200 | BBG001SC0054 | 14213114 | 193824 | SH |  | SOLE |  | 158424 | 0 | 35400 |
| KOSMOS ENERGY LTD | COM | 500688106 | BBG001SJV7R6 | 36482359 | 21210674 | SH |  | SOLE |  | 19135974 | 0 | 2074700 |
| KRAFT HEINZ CO | COM | 500754106 | BBG005CPNTR1 | 397940577 | 15412106 | SH |  | SOLE |  | 14354406 | 0 | 1057700 |
| LABCORP HOLDINGS INC | COM SHS | 504922105 | BBG01MMT6PQ2 | 100800165 | 383986 | SH |  | SOLE |  | 378886 | 0 | 5100 |
| LAUREATE EDUCATION INC | COMMON STOCK | 518613203 | BBG00B4Z2YY9 | 10742175 | 459460 | SH |  | SOLE |  | 378060 | 0 | 81400 |
| LEAR CORP | COM NEW | 521865204 | BBG001T60092 | 58665917 | 617666 | SH |  | SOLE |  | 546466 | 0 | 71200 |
| LEGACY HOUSING CORP | COM | 52472M101 | BBG00MJDR6K7 | 6129303 | 270490 | SH |  | SOLE |  | 229390 | 0 | 41100 |
| LEGGETT  PLATT INC | COM | 524660107 | BBG001S5SRG8 | 7404849 | 830140 | SH |  | SOLE |  | 683440 | 0 | 146700 |
| LGI HOMES INC | COM | 50187T106 | BBG0056655T0 | 5096874 | 98930 | SH |  | SOLE |  | 81730 | 0 | 17200 |
| LIBERTY ENERGY INC | COM CL A | 53115L104 | BBG00GK831C5 | 8445216 | 735646 | SH |  | SOLE |  | 607946 | 0 | 127700 |
| LINCOLN NATL CORP IND | COM | 534187109 | BBG001S5STV7 | 7038678 | 203430 | SH |  | SOLE |  | 168930 | 0 | 34500 |
| LINDSAY CORP | COM | 535555106 | BBG001SB90F6 | 10482648 | 72670 | SH |  | SOLE |  | 60970 | 0 | 11700 |
| LITHIA MTRS INC | COM | 536797103 | BBG001SC88P7 | 138958541 | 411339 | SH |  | SOLE |  | 386119 | 0 | 25220 |
| LIVANOVA PLC | SHS | G5509L101 | BBG009LGHG25 | 52186284 | 1159180 | SH |  | SOLE |  | 1005380 | 0 | 153800 |
| LIVE OAK BANCSHARES INC | COM | 53803X105 | BBG001T4RVG2 | 9665570 | 324348 | SH |  | SOLE |  | 267069 | 0 | 57279 |
| M/I HOMES INC | COM | 55305B101 | BBG001S7HGC4 | 6358886 | 56715 | SH |  | SOLE |  | 46507 | 0 | 10208 |
| MADDEN STEVEN LTD | COM | 556269108 | BBG001S7JHQ5 | 6908062 | 288076 | SH |  | SOLE |  | 237476 | 0 | 50600 |
| MAGNA INTL INC | COM | 559222401 | BBG001S5SY91 | 480379674 | 12441846 | SH |  | SOLE |  | 11572963 | 0 | 868883 |
| MANPOWERGROUP INC WIS | COM | 56418H100 | BBG001S5SYW5 | 36717782 | 908856 | SH |  | SOLE |  | 800456 | 0 | 108400 |
| MARCUS  MILLICHAP INC | COM | 566324109 | BBG005GBRSS5 | 5919353 | 192750 | SH |  | SOLE |  | 160950 | 0 | 31800 |
| MARINEMAX INC | COM | 567908108 | BBG001SBS2N2 | 7228253 | 287520 | SH |  | SOLE |  | 233120 | 0 | 54400 |
| MARRIOTT VACATIONS WORLDWIDE | COM | 57164Y107 | BBG001V0GHW2 | 78193142 | 1081360 | SH |  | SOLE |  | 971660 | 0 | 109700 |
| MARTEN TRANS LTD | COM | 573075108 | BBG001S5TCK5 | 3144489 | 242070 | SH |  | SOLE |  | 195070 | 0 | 47000 |
| MAXIMUS INC | COM | 577933104 | BBG001S6G4K5 | 12262887 | 174685 | SH |  | SOLE |  | 145285 | 0 | 29400 |
| MCGRATH RENTCORP | COM | 580589109 | BBG001S5T593 | 4018014 | 34650 | SH |  | SOLE |  | 30050 | 0 | 4600 |
| MDU RES GROUP INC | COM | 552690109 | BBG001S5T2W4 | 25630959 | 1537550 | SH |  | SOLE |  | 1319750 | 0 | 217800 |
| MEDTRONIC PLC | SHS | G5960L103 | BBG001S5T2S9 | 517085554 | 5931921 | SH |  | SOLE |  | 5404239 | 0 | 527682 |
| MERCANTILE BK CORP | COM | 587376104 | BBG001S971V3 | 6838049 | 147340 | SH |  | SOLE |  | 121640 | 0 | 25700 |
| MERCHANTS BANCORP IND | COM | 58844R108 | BBG001STXPM7 | 11988536 | 362520 | SH |  | SOLE |  | 295920 | 0 | 66600 |
| MERCURY GENL CORP NEW | COM | 589400100 | BBG001S98VJ0 | 3890905 | 57780 | SH |  | SOLE |  | 48680 | 0 | 9100 |
| METHODE ELECTRS INC | COM | 591520200 | BBG001S5T3T6 | 13724927 | 1443210 | SH |  | SOLE |  | 1225210 | 0 | 218000 |
| MGIC INVT CORP WIS | COM | 552848103 | BBG001S6SFR0 | 10928592 | 392550 | SH |  | SOLE |  | 324350 | 0 | 68200 |
| MGP INGREDIENTS INC NEW | COM | 55303J106 | BBG001S5XTL2 | 2956541 | 98650 | SH |  | SOLE |  | 80750 | 0 | 17900 |
| MICRON TECHNOLOGY INC | COM | 595112103 | BBG001S6P675 | 3475650 | 28200 | SH |  | SOLE |  | 28200 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 | BBG001S5TD05 | 136541532 | 274505 | SH |  | SOLE |  | 251670 | 0 | 22835 |
| MID PENN BANCORP INC | COM | 59540G107 | BBG001S5T0G6 | 3436170 | 121850 | SH |  | SOLE |  | 99250 | 0 | 22600 |
| MIDLAND STATES BANCORP INC | COM | 597742105 | BBG001SMZRY3 | 6128162 | 353820 | SH |  | SOLE |  | 291220 | 0 | 62600 |
| MIDWESTONE FINL GROUP INC NE | COM | 598511103 | BBG001SCDXR4 | 6424629 | 223310 | SH |  | SOLE |  | 181710 | 0 | 41600 |
| MILLER INDS INC TENN | COM NEW | 600551204 | BBG001S7BMD6 | 20638243 | 464198 | SH |  | SOLE |  | 403098 | 0 | 61100 |
| MILLERKNOLL INC | COM | 600544100 | BBG001S5T771 | 18612555 | 958422 | SH |  | SOLE |  | 798322 | 0 | 160100 |
| MONARCH CASINO  RESORT INC | COM | 609027107 | BBG001S7DVP1 | 10063345 | 116420 | SH |  | SOLE |  | 95820 | 0 | 20600 |
| MONDELEZ INTL INC | CL A | 609207105 | BBG001SHHZJ3 | 19441603 | 288280 | SH |  | SOLE |  | 214680 | 0 | 73600 |
| MORGAN STANLEY | COM NEW | 617446448 | BBG001S9V5Z3 | 436666 | 3100 | SH |  | SOLE |  | 3100 | 0 | 0 |
| MSC INDL DIRECT INC | CL A | 553530106 | BBG001S5TD87 | 13188387 | 155121 | SH |  | SOLE |  | 126721 | 0 | 28400 |
| MURPHY OIL CORP | COM | 626717102 | BBG001S5TG80 | 119451645 | 5308962 | SH |  | SOLE |  | 4826634 | 0 | 482328 |
| MYERS INDS INC | COM | 628464109 | BBG001S5TH97 | 12498494 | 862560 | SH |  | SOLE |  | 702260 | 0 | 160300 |
| NATIONAL CINEMEDIA INC | COM NEW | 635309206 | BBG001SRSPD7 | 22204330 | 4582937 | SH |  | SOLE |  | 4095876 | 0 | 487061 |
| NATIONAL ENERGY SERVICES REU | SHS | G6375R107 | BBG00GNGGRK4 | 5362736 | 890820 | SH |  | SOLE |  | 761220 | 0 | 129600 |
| NATIONAL PRESTO INDS INC | COM | 637215104 | BBG001S5TPT7 | 3991184 | 40743 | SH |  | SOLE |  | 32843 | 0 | 7900 |
| NATIONAL RESH CORP | COM NEW | 637372202 | BBG004K1F9R1 | 4551960 | 270950 | SH |  | SOLE |  | 225850 | 0 | 45100 |
| NAVIENT CORPORATION | COM | 63938C108 | BBG004MN1R50 | 13996591 | 992666 | SH |  | SOLE |  | 831366 | 0 | 161300 |
| NB BANCORP INC | COM | 63945M107 | BBG01KS1NKX5 | 9760669 | 546510 | SH |  | SOLE |  | 457610 | 0 | 88900 |
| NBT BANCORP INC | COM | 628778102 | BBG001S6XCS0 | 2229947 | 53669 | SH |  | SOLE |  | 53669 | 0 | 0 |
| NEXTDECADE CORP | COM | 65342K105 | BBG008GC7WN5 | 17137316 | 1923380 | SH |  | SOLE |  | 1626680 | 0 | 296700 |
| NEXTRACKER INC | CLASS A COM | 65290E101 | BBG00835TQ17 | 15410089 | 283430 | SH |  | SOLE |  | 242730 | 0 | 40700 |
| NMI HLDGS INC | COM | 629209305 | BBG005DLMPF1 | 14572848 | 345410 | SH |  | SOLE |  | 284210 | 0 | 61200 |
| NORFOLK SOUTHN CORP | COM | 655844108 | BBG001S5TQJ6 | 209542929 | 818623 | SH |  | SOLE |  | 769023 | 0 | 49600 |
| NORTHEAST BK PORTLAND ME | COM | 66405S100 | BBG001SDS4K7 | 3315678 | 37259 | SH |  | SOLE |  | 30129 | 0 | 7130 |
| NORTHERN OIL  GAS INC | COM | 665531307 | BBG001SK2P31 | 13085963 | 461586 | SH |  | SOLE |  | 376286 | 0 | 85300 |
| NORTHERN TR CORP | COM | 665859104 | BBG001S5TRG7 | 4845914 | 38220 | SH |  | SOLE |  | 38220 | 0 | 0 |
| NORTHFIELD BANCORP INC DEL | COM | 66611T108 | BBG001T0M0Z2 | 10639561 | 926791 | SH |  | SOLE |  | 778191 | 0 | 148600 |
| NORTHRIM BANCORP INC | COM | 666762109 | BBG001S6NXD1 | 7153788 | 76708 | SH |  | SOLE |  | 63808 | 0 | 12900 |
| NORTHWEST NAT HLDG CO | COM | 66765N105 | BBG00KXKRLP1 | 10946038 | 275580 | SH |  | SOLE |  | 225180 | 0 | 50400 |
| NORTHWESTERN ENERGY GROUP IN | COM NEW | 668074305 | BBG001SM2G73 | 10874523 | 211979 | SH |  | SOLE |  | 175479 | 0 | 36500 |
| NOV INC | COM | 62955J103 | BBG001S6HFR2 | 496134401 | 39914272 | SH |  | SOLE |  | 36131072 | 0 | 3783200 |
| NRG ENERGY INC | COM NEW | 629377508 | BBG001SDD8F0 | 2826208 | 17600 | SH |  | SOLE |  | 17600 | 0 | 0 |
| OCEANFIRST FINL CORP | COM | 675234108 | BBG001S92JX7 | 13341688 | 757620 | SH |  | SOLE |  | 620820 | 0 | 136800 |
| OGE ENERGY CORP | COM | 670837103 | BBG001S5TVY8 | 38754569 | 873244 | SH |  | SOLE |  | 766744 | 0 | 106500 |
| OIL STS INTL INC | COM | 678026105 | BBG001S7WK56 | 8711018 | 1625190 | SH |  | SOLE |  | 1339990 | 0 | 285200 |
| OLIN CORP | COM PAR $1 | 680665205 | BBG001S5TWW8 | 241657748 | 12028758 | SH |  | SOLE |  | 11349778 | 0 | 678980 |
| OMNICOM GROUP INC | COM | 681919106 | BBG001S5VR10 | 371437802 | 5163161 | SH |  | SOLE |  | 4791461 | 0 | 371700 |
| ONEWATER MARINE INC | CL A COM | 68280L101 | BBG00PPXGH27 | 8464489 | 632150 | SH |  | SOLE |  | 517250 | 0 | 114900 |
| ORACLE CORP | COM | 68389X105 | BBG001S5SJG6 | 3672984 | 16800 | SH |  | SOLE |  | 0 | 0 | 16800 |
| ORIGIN BANCORP INC | COM | 68621T102 | BBG001S78WZ4 | 9877106 | 276360 | SH |  | SOLE |  | 228460 | 0 | 47900 |
| OSI SYSTEMS INC | COM | 671044105 | BBG001SB1J54 | 7802642 | 34700 | SH |  | SOLE |  | 28800 | 0 | 5900 |
| OTTER TAIL CORP | COM | 689648103 | BBG001S5TYX3 | 8531165 | 110665 | SH |  | SOLE |  | 89965 | 0 | 20700 |
| OVINTIV INC | COM | 69047Q102 | BBG00R2NHQ74 | 336501073 | 8843655 | SH |  | SOLE |  | 8191125 | 0 | 652530 |
| OXFORD INDS INC | COM | 691497309 | BBG001S5TZF0 | 9848169 | 244675 | SH |  | SOLE |  | 205375 | 0 | 39300 |
| PACCAR INC | COM | 693718108 | BBG001S5V1S8 | 318942270 | 3355168 | SH |  | SOLE |  | 3130903 | 0 | 224265 |
| PACIFIC PREMIER BANCORP | COM | 69478X105 | BBG001S9JFG6 | 12747893 | 604452 | SH |  | SOLE |  | 491752 | 0 | 112700 |
| PAPA JOHNS INTL INC | COM | 698813102 | BBG001S6XNB4 | 4530865 | 92580 | SH |  | SOLE |  | 76680 | 0 | 15900 |
| PAR PAC HOLDINGS INC | COM NEW | 69888T207 | BBG003C5DLS7 | 20352224 | 767140 | SH |  | SOLE |  | 644840 | 0 | 122300 |
| PARAMOUNT GLOBAL | CLASS B COM | 92556H206 | BBG001S6L063 | 147258325 | 11415374 | SH |  | SOLE |  | 10811974 | 0 | 603400 |
| PARK HOTELS  RESORTS INC | COM | 700517105 | BBG00FGXCKN3 | 12842844 | 1255410 | SH |  | SOLE |  | 1034310 | 0 | 221100 |
| PBF ENERGY INC | CL A | 69318G106 | BBG002832HM6 | 14522281 | 670156 | SH |  | SOLE |  | 562956 | 0 | 107200 |
| PC CONNECTION INC | COM | 69318J100 | BBG001S96MG5 | 3749460 | 57000 | SH |  | SOLE |  | 46000 | 0 | 11000 |
| PEAPACK-GLADSTONE FINL CORP | COM | 704699107 | BBG001SG3CC8 | 9288883 | 328810 | SH |  | SOLE |  | 270310 | 0 | 58500 |
| PEBBLEBROOK HOTEL TR | COM | 70509V100 | BBG001T5S1M7 | 14746539 | 1476130 | SH |  | SOLE |  | 1244430 | 0 | 231700 |
| PEBBLEBROOK HOTEL TR | 6.3 CUM PFD SR F | 70509V704 |  | 6380917 | 363585 | SH |  | SOLE |  | 357201 | 0 | 6384 |
| PEOPLES FINL SVCS CORP | COM | 711040105 | BBG001S9KST2 | 3307296 | 66990 | SH |  | SOLE |  | 55390 | 0 | 11600 |
| PERELLA WEINBERG PARTNERS | CLASS A COM | 71367G102 | BBG00XWZGGJ1 | 4497478 | 231590 | SH |  | SOLE |  | 200590 | 0 | 31000 |
| PETMED EXPRESS INC | COM | 716382106 | BBG001S6TKF1 | 2745318 | 826903 | SH |  | SOLE |  | 684103 | 0 | 142800 |
| PHILIP MORRIS INTL INC | COM | 718172109 | BBG001STP9N1 | 15619469 | 85760 | SH |  | SOLE |  | 67930 | 0 | 17830 |
| PHINIA INC | COMMON STOCK | 71880K101 | BBG01F6N6NP4 | 6441707 | 144790 | SH |  | SOLE |  | 121190 | 0 | 23600 |
| PHOTRONICS INC | COM | 719405102 | BBG001S5V7C2 | 9272457 | 492430 | SH |  | SOLE |  | 406630 | 0 | 85800 |
| PLEXUS CORP | COM | 729132100 | BBG001S5V812 | 9664787 | 71427 | SH |  | SOLE |  | 58851 | 0 | 12576 |
| POLARIS INC | COM | 731068102 | BBG001S7HWZ4 | 13528483 | 332804 | SH |  | SOLE |  | 275404 | 0 | 57400 |
| POPULAR INC | COM NEW | 733174700 | BBG001S5PC01 | 109523061 | 993767 | SH |  | SOLE |  | 851567 | 0 | 142200 |
| PORTLAND GEN ELEC CO | COM NEW | 736508847 | BBG001S5V4Y5 | 11402891 | 280652 | SH |  | SOLE |  | 233252 | 0 | 47400 |
| PPG INDS INC | COM | 693506107 | BBG001S5VC13 | 388006938 | 3411050 | SH |  | SOLE |  | 3147450 | 0 | 263600 |
| PPL CORP | COM | 69351T106 | BBG001S5VC31 | 334377210 | 9866545 | SH |  | SOLE |  | 9311016 | 0 | 555529 |
| PREFERRED BK LOS ANGELES CA | COM NEW | 740367404 | BBG001S9SFK1 | 12735097 | 147150 | SH |  | SOLE |  | 121450 | 0 | 25700 |
| PROFRAC HLDG CORP | CLASS A COM | 74319N100 | BBG013PRYQC7 | 9016344 | 1161900 | SH |  | SOLE |  | 944700 | 0 | 217200 |
| PROPETRO HLDG CORP | COM | 74347M108 | BBG00FYCQ3Y0 | 10388337 | 1740090 | SH |  | SOLE |  | 1433990 | 0 | 306100 |
| PROTO LABS INC | COM | 743713109 | BBG001SRZTG8 | 6627421 | 165520 | SH |  | SOLE |  | 136320 | 0 | 29200 |
| PROVIDENT FINL SVCS INC | COM | 74386T105 | BBG001SKM445 | 13206997 | 753394 | SH |  | SOLE |  | 613435 | 0 | 139959 |
| PVH CORPORATION | COM | 693656100 | BBG001S5VGY8 | 6355790 | 92650 | SH |  | SOLE |  | 76950 | 0 | 15700 |
| QUAD / GRAPHICS INC | COM CL A | 747301109 | BBG001SG6LT7 | 6183134 | 1094360 | SH |  | SOLE |  | 978260 | 0 | 116100 |
| RADIAN GROUP INC | COM | 750236101 | BBG001SBWXG7 | 13789897 | 382840 | SH |  | SOLE |  | 314740 | 0 | 68100 |
| RALLIANT CORP | COM | 750940108 | BBG01V4YRP33 | 19668853 | 405627 | SH |  | SOLE |  | 400261 | 0 | 5366 |
| RBB BANCORP | COM | 74930B105 | BBG002537TD8 | 3482357 | 202345 | SH |  | SOLE |  | 170345 | 0 | 32000 |
| RESIDEO TECHNOLOGIES INC | COM | 76118Y104 | BBG00HY28L05 | 14890279 | 674990 | SH |  | SOLE |  | 567790 | 0 | 107200 |
| RESOURCES CONNECTION INC | COM | 76122Q105 | BBG001S7QYK6 | 8770987 | 1633331 | SH |  | SOLE |  | 1320231 | 0 | 313100 |
| REV GROUP INC | COM | 749527107 | BBG00CSG01X8 | 5076425 | 106670 | SH |  | SOLE |  | 86070 | 0 | 20600 |
| REX AMERICAN RES CORP | COM | 761624105 | BBG001S7D5J5 | 14630195 | 300353 | SH |  | SOLE |  | 246353 | 0 | 54000 |
| RMR GROUP INC | CL A | 74967R106 | BBG00B6V7CK4 | 12051422 | 737090 | SH |  | SOLE |  | 618190 | 0 | 118900 |
| RPC INC | COM | 749660106 | BBG001S5VN37 | 8422995 | 1780760 | SH |  | SOLE |  | 1479660 | 0 | 301100 |
| RTX CORPORATION | COM | 75513E101 | BBG001S5X5Q9 | 87128820 | 596691 | SH |  | SOLE |  | 590891 | 0 | 5800 |
| RUSH ENTERPRISES INC | CL A | 781846209 | BBG001SKX0D1 | 35055027 | 680548 | SH |  | SOLE |  | 589123 | 0 | 91425 |
| SANFILIPPO JOHN B  SON INC | COM | 800422107 | BBG001S6WMC6 | 8660718 | 136950 | SH |  | SOLE |  | 115150 | 0 | 21800 |
| SANMINA CORPORATION | COM | 801056102 | BBG001S5SYJ0 | 7881772 | 80566 | SH |  | SOLE |  | 66666 | 0 | 13900 |
| SANOFI | SPONSORED ADR | 80105N105 | BBG001S5W768 | 105204929 | 2177705 | SH |  | SOLE |  | 2064406 | 0 | 113299 |
| SCANSOURCE INC | COM | 806037107 | BBG001S7S0W5 | 14936455 | 357246 | SH |  | SOLE |  | 302146 | 0 | 55100 |
| SCHLUMBERGER LTD | COM STK | 806857108 | BBG001S5W4C8 | 364014238 | 10769652 | SH |  | SOLE |  | 9853802 | 0 | 915850 |
| SCHNEIDER NATIONAL INC | CL B | 80689H102 | BBG001SF1R75 | 6332613 | 262220 | SH |  | SOLE |  | 216220 | 0 | 46000 |
| SCIENCE APPLICATIONS INTL CO | COM | 808625107 | BBG003BW05L5 | 5636131 | 50050 | SH |  | SOLE |  | 41350 | 0 | 8700 |
| SELECT MED HLDGS CORP | COM | 81619Q105 | BBG001SMLRT4 | 8786336 | 578810 | SH |  | SOLE |  | 488810 | 0 | 90000 |
| SELECT WATER SOLUTIONS INC | CL A COM | 81617J301 | BBG00G4Y2F27 | 8892115 | 1029180 | SH |  | SOLE |  | 852080 | 0 | 177100 |
| SELECTIVE INS GROUP INC | COM | 816300107 | BBG001S5W2R6 | 8516829 | 98290 | SH |  | SOLE |  | 81090 | 0 | 17200 |
| SENSATA TECHNOLOGIES HLDG PL | SHS | G8060N102 | BBG00JPGYWV3 | 13072377 | 434154 | SH |  | SOLE |  | 374754 | 0 | 59400 |
| SERITAGE GROWTH PPTYS | CL A | 81752R100 | BBG008NVFMP6 | 14165598 | 4599220 | SH |  | SOLE |  | 4041720 | 0 | 557500 |
| SHELL PLC | SPON ADS | 780259305 | BBG0147BN6H1 | 451477932 | 6412128 | SH |  | SOLE |  | 5953145 | 0 | 458983 |
| SHORE BANCSHARES INC | COM | 825107105 | BBG001S9TSK2 | 3739694 | 237894 | SH |  | SOLE |  | 202647 | 0 | 35247 |
| SHUTTERSTOCK INC | COM | 825690100 | BBG002ZCK3M7 | 13016040 | 686500 | SH |  | SOLE |  | 572000 | 0 | 114500 |
| SIERRA BANCORP | COM | 82620P102 | BBG001S6XR89 | 3610660 | 121612 | SH |  | SOLE |  | 100912 | 0 | 20700 |
| SIGA TECHNOLOGIES INC | COM | 826917106 | BBG001S80PZ5 | 13481795 | 2067760 | SH |  | SOLE |  | 1782760 | 0 | 285000 |
| SIGNET JEWELERS LIMITED | SHS | G81276100 | BBG001S7FKS0 | 13012471 | 163576 | SH |  | SOLE |  | 133676 | 0 | 29900 |
| SILGAN HLDGS INC | COM | 827048109 | BBG001S6VPD9 | 9982773 | 184252 | SH |  | SOLE |  | 152852 | 0 | 31400 |
| SIMMONS 1ST NATL CORP | CL A $1 PAR | 828730200 | BBG001S5W0T8 | 12491113 | 658814 | SH |  | SOLE |  | 535614 | 0 | 123200 |
| SLM CORP | COM | 78442P106 | BBG001S5W4T0 | 76121198 | 2321476 | SH |  | SOLE |  | 2022076 | 0 | 299400 |
| SOLVENTUM CORP | COM SHS | 83444M101 | BBG018YZH6V0 | 136818697 | 1804044 | SH |  | SOLE |  | 1727344 | 0 | 76700 |
| SONIC AUTOMOTIVE INC | CL A | 83545G102 | BBG001S5VVK0 | 45249972 | 566120 | SH |  | SOLE |  | 485920 | 0 | 80200 |
| SONOCO PRODS CO | COM | 835495102 | BBG001S7M9F1 | 11778972 | 270408 | SH |  | SOLE |  | 221208 | 0 | 49200 |
| SOUTH PLAINS FINANCIAL INC | COM | 83946P107 | BBG001SN2YN4 | 3437495 | 95380 | SH |  | SOLE |  | 80080 | 0 | 15300 |
| SOUTHERN MO BANCORP INC | COM | 843380106 | BBG001S7WWN0 | 6529228 | 119190 | SH |  | SOLE |  | 98490 | 0 | 20700 |
| SOUTHWEST GAS HLDGS INC | COM | 844895102 | BBG00FWP4JX3 | 12272118 | 164970 | SH |  | SOLE |  | 135970 | 0 | 29000 |
| SPIRE INC | COM | 84857L101 | BBG001S5SSD9 | 11250606 | 154139 | SH |  | SOLE |  | 128939 | 0 | 25200 |
| STAGWELL INC | COM CL A | 85256A109 | BBG00ZV0HW08 | 90513657 | 20114146 | SH |  | SOLE |  | 18015967 | 0 | 2098179 |
| STANLEY BLACK  DECKER INC | COM | 854502101 | BBG001S5WHT1 | 192995767 | 2848646 | SH |  | SOLE |  | 2549646 | 0 | 299000 |
| STATE STR CORP | COM | 857477103 | BBG001S5RLD5 | 526352906 | 4949717 | SH |  | SOLE |  | 4587277 | 0 | 362440 |
| STEELCASE INC | CL A | 858155203 | BBG001S89FD2 | 9723263 | 932240 | SH |  | SOLE |  | 771040 | 0 | 161200 |
| STEWART INFORMATION SVCS COR | COM | 860372101 | BBG001S7KRL6 | 8664810 | 133100 | SH |  | SOLE |  | 108100 | 0 | 25000 |
| STIFEL FINL CORP | COM | 860630102 | BBG001S5W081 | 49249733 | 474559 | SH |  | SOLE |  | 420509 | 0 | 54050 |
| STONERIDGE INC | COM | 86183P102 | BBG001S5RX58 | 102080 | 14500 | SH |  | SOLE |  | 14500 | 0 | 0 |
| SUN CTRY AIRLS HLDGS INC | COM | 866683105 | BBG00Z6F8D50 | 3824390 | 325480 | SH |  | SOLE |  | 259380 | 0 | 66100 |
| SYLVAMO CORP | COMMON STOCK | 871332102 | BBG0122M8040 | 5024529 | 100290 | SH |  | SOLE |  | 82990 | 0 | 17300 |
| SYNOVUS FINL CORP | COM NEW | 87161C501 | BBG001S5S3G1 | 8439390 | 163080 | SH |  | SOLE |  | 145280 | 0 | 17800 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 | BBG001S5WWW4 | 16979729 | 74969 | SH |  | SOLE |  | 46969 | 0 | 28000 |
| TALOS ENERGY INC | COM | 87484T108 | BBG00JPH4JG0 | 13657718 | 1610580 | SH |  | SOLE |  | 1328080 | 0 | 282500 |
| TE CONNECTIVITY PLC | ORD SHS | G87052109 | BBG01Q08MMX4 | 269379990 | 1597083 | SH |  | SOLE |  | 1515283 | 0 | 81800 |
| TEGNA INC | COM | 87901J105 | BBG001S5RHD4 | 9581357 | 571680 | SH |  | SOLE |  | 473780 | 0 | 97900 |
| TELEFONAKTIEBOLAGET LM ERICS | ADR B SEK 10 | 294821608 | BBG001S5QXT3 | 822807336 | 97029167 | SH |  | SOLE |  | 88667051 | 0 | 8362116 |
| TENNANT CO | COM | 880345103 | BBG001SCHFK6 | 9974775 | 128740 | SH |  | SOLE |  | 105340 | 0 | 23400 |
| THE CIGNA GROUP | COM | 125523100 | BBG00KXRCDQ9 | 201800908 | 610445 | SH |  | SOLE |  | 575755 | 0 | 34690 |
| THE ODP CORP | COM | 88337F105 | BBG00R24W7Y1 | 19333161 | 1066363 | SH |  | SOLE |  | 966804 | 0 | 99559 |
| THERMON GROUP HLDGS INC | COM | 88362T103 | BBG001V0BDC8 | 13135375 | 467784 | SH |  | SOLE |  | 394884 | 0 | 72900 |
| THOR INDS INC | COM | 885160101 | BBG001S5WPH6 | 11362351 | 127940 | SH |  | SOLE |  | 105740 | 0 | 22200 |
| TIMKEN CO | COM | 887389104 | BBG001S5WQK0 | 135341807 | 1865497 | SH |  | SOLE |  | 1739297 | 0 | 126200 |
| TITAN MACHY INC | COM | 88830R101 | BBG001STZCF2 | 13921874 | 702770 | SH |  | SOLE |  | 597370 | 0 | 105400 |
| TOMPKINS FINL CORP | COM | 890110109 | BBG001S9JTL0 | 6967107 | 111065 | SH |  | SOLE |  | 93665 | 0 | 17400 |
| TOWNEBANK PORTSMOUTH VA | COM | 89214P109 | BBG001S5WTN1 | 3632992 | 106290 | SH |  | SOLE |  | 86890 | 0 | 19400 |
| TRAVEL PLUS LEISURE CO | COM | 894164102 | BBG001SN4127 | 14253289 | 276173 | SH |  | SOLE |  | 228573 | 0 | 47600 |
| TRI POINTE HOMES INC | COM | 87265H109 | BBG001TCN6V6 | 9457839 | 296020 | SH |  | SOLE |  | 246220 | 0 | 49800 |
| TRICO BANCSHARES | COM | 896095106 | BBG001S78RY6 | 9710312 | 239820 | SH |  | SOLE |  | 200520 | 0 | 39300 |
| TRIMAS CORP | COM NEW | 896215209 | BBG001SKRBD4 | 12146376 | 424550 | SH |  | SOLE |  | 349550 | 0 | 75000 |
| TRUEBLUE INC | COM | 89785X101 | BBG001SC5XD8 | 8475775 | 1307990 | SH |  | SOLE |  | 1078790 | 0 | 229200 |
| TRUIST FINL CORP | COM | 89832Q109 | BBG001S5YYC0 | 210298009 | 4891789 | SH |  | SOLE |  | 4510789 | 0 | 381000 |
| TRUSTCO BK CORP N Y | COM NEW | 898349204 | BBG001S5WWG2 | 10639992 | 318372 | SH |  | SOLE |  | 265212 | 0 | 53160 |
| TUTOR PERINI CORP | COM | 901109108 | BBG001S5V297 | 12676398 | 270979 | SH |  | SOLE |  | 240679 | 0 | 30300 |
| TXNM ENERGY INC | COM | 69349H107 | BBG001S5V9J1 | 12692163 | 225358 | SH |  | SOLE |  | 186058 | 0 | 39300 |
| U HAUL HOLDING COMPANY | COM SER N | 023586506 | BBG01B6SGC20 | 133168930 | 2449309 | SH |  | SOLE |  | 1971809 | 0 | 477500 |
| UNIFIRST CORP MASS | COM | 904708104 | BBG001S5X2B2 | 6246081 | 33185 | SH |  | SOLE |  | 27585 | 0 | 5600 |
| UNILEVER PLC | SPON ADR NEW | 904767704 | BBG001S5X1K4 | 174218216 | 2848099 | SH |  | SOLE |  | 2757639 | 0 | 90460 |
| UNITED FIRE GROUP INC | COM | 910340108 | BBG001S5X0J8 | 3645474 | 127020 | SH |  | SOLE |  | 107420 | 0 | 19600 |
| UNITED PARKS  RESORTS INC | COM | 81282V100 | BBG003RY97L1 | 12648365 | 268258 | SH |  | SOLE |  | 222858 | 0 | 45400 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 | BBG001S6WCJ1 | 216622609 | 694370 | SH |  | SOLE |  | 627870 | 0 | 66500 |
| UNITIL CORP | COM | 913259107 | BBG001S5X5G0 | 5663490 | 108600 | SH |  | SOLE |  | 90700 | 0 | 17900 |
| UNIVERSAL HLTH SVCS INC | CL B | 913903100 | BBG001S6S976 | 6703275 | 37004 | SH |  | SOLE |  | 37004 | 0 | 0 |
| UNIVEST FINANCIAL CORPORATIO | COM | 915271100 | BBG001S6YQ99 | 10163433 | 338330 | SH |  | SOLE |  | 278230 | 0 | 60100 |
| US BANCORP DEL | COM NEW | 902973304 | BBG001S6T8C1 | 451007746 | 9967022 | SH |  | SOLE |  | 9282252 | 0 | 684770 |
| UTAH MED PRODS INC | COM | 917488108 | BBG001S6PWD1 | 6372194 | 111950 | SH |  | SOLE |  | 94150 | 0 | 17800 |
| VAALCO ENERGY INC | COM NEW | 91851C201 | BBG001S76ZS7 | 12262773 | 3396890 | SH |  | SOLE |  | 2801090 | 0 | 595800 |
| VALLEY NATL BANCORP | COM | 919794107 | BBG001S7H654 | 9420596 | 1054938 | SH |  | SOLE |  | 880338 | 0 | 174600 |
| VANGUARD SCOTTSDALE FDS | LONG TERM TREAS | 92206C847 | BBG001T62MC8 | 15769720 | 281000 | SH |  | SOLE |  | 281000 | 0 | 0 |
| VERITEX HLDGS INC | COM | 923451108 | BBG001T6ZGF2 | 14241465 | 545650 | SH |  | SOLE |  | 446050 | 0 | 99600 |
| VIRTUS INVT PARTNERS INC | COM | 92828Q109 | BBG001T1QKH2 | 13273038 | 73170 | SH |  | SOLE |  | 60770 | 0 | 12400 |
| VISHAY INTERTECHNOLOGY INC | COM | 928298108 | BBG001S5XB04 | 12043868 | 758430 | SH |  | SOLE |  | 641630 | 0 | 116800 |
| VISTEON CORP | COM NEW | 92839U206 | BBG001TCM086 | 11226696 | 120329 | SH |  | SOLE |  | 99129 | 0 | 21200 |
| VITAL ENERGY INC | COM | 516806205 | BBG001T24DQ0 | 11791396 | 732840 | SH |  | SOLE |  | 601440 | 0 | 131400 |
| VODAFONE GROUP PLC NEW | SPONSORED ADR | 92857W308 | BBG001S6MDB8 | 6168985 | 578704 | SH |  | SOLE |  | 260204 | 0 | 318500 |
| VONTIER CORPORATION | COM | 928881101 | BBG00RRGSKH2 | 6874839 | 186310 | SH |  | SOLE |  | 154410 | 0 | 31900 |
| WABASH NATL CORP | COM | 929566107 | BBG001S6W2K1 | 12750355 | 1199469 | SH |  | SOLE |  | 988669 | 0 | 210800 |
| WAFD INC | COM | 938824109 | BBG001S5XF96 | 16942521 | 578638 | SH |  | SOLE |  | 489217 | 0 | 89421 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 | BBG011386VG3 | 225436547 | 19671601 | SH |  | SOLE |  | 18215007 | 0 | 1456594 |
| WASHINGTON TR BANCORP INC | COM | 940610108 | BBG001S5XC66 | 12081499 | 427210 | SH |  | SOLE |  | 350010 | 0 | 77200 |
| WEATHERFORD INTL PLC | ORD SHS | G48833118 | BBG00R4SQJS4 | 4958051 | 98550 | SH |  | SOLE |  | 87550 | 0 | 11000 |
| WELLS FARGO CO NEW | COM | 949746101 | BBG001S5XF23 | 724391279 | 9041329 | SH |  | SOLE |  | 8455368 | 0 | 585961 |
| WESBANCO INC | COM | 950810101 | BBG001S5XJR8 | 12962543 | 409818 | SH |  | SOLE |  | 340158 | 0 | 69660 |
| WESCO INTL INC | COM | 95082P105 | BBG001SCRP78 | 13767768 | 74340 | SH |  | SOLE |  | 69140 | 0 | 5200 |
| WESTERN UN CO | COM | 959802109 | BBG001SR0YK0 | 10156558 | 1206242 | SH |  | SOLE |  | 987542 | 0 | 218700 |
| WEX INC | COM | 96208T104 | BBG001SCJLG6 | 56569983 | 385118 | SH |  | SOLE |  | 336078 | 0 | 49040 |
| WHIRLPOOL CORP | COM | 963320106 | BBG001S5XFS5 | 5354976 | 52800 | SH |  | SOLE |  | 52800 | 0 | 0 |
| WHITE MTNS INS GROUP LTD | COM | G9618E107 | BBG001SBLRT8 | 12334801 | 6869 | SH |  | SOLE |  | 5649 | 0 | 1220 |
| WK KELLOGG CO | COM SHS | 92942W107 | BBG018CYVVX4 | 10405791 | 652810 | SH |  | SOLE |  | 550810 | 0 | 102000 |
| WORKDAY INC | CL A | 98138H101 | BBG001T21KQ7 | 950424000 | 3960100 | SH |  | SOLE |  | 3725995 | 0 | 234105 |
| WORLD KINECT CORPORATION | COM | 981475106 | BBG001S5S9J5 | 14001810 | 493891 | SH |  | SOLE |  | 402191 | 0 | 91700 |
| WORTHINGTON ENTERPRISES INC | COM | 981811102 | BBG001S6XN51 | 11648029 | 183030 | SH |  | SOLE |  | 155530 | 0 | 27500 |
| WPP PLC NEW | ADR | 92937A102 | BBG001S5XJ89 | 354962959 | 10138902 | SH |  | SOLE |  | 9552502 | 0 | 586400 |
| ZIMMER BIOMET HOLDINGS INC | COM | 98956P102 | BBG001S7DQJ9 | 148598146 | 1629187 | SH |  | SOLE |  | 1528515 | 0 | 100672 |
| ZOOMINFO TECHNOLOGIES INC | COMMON STOCK | 98980F104 | BBG00S1HJ4F4 | 7534846 | 744550 | SH |  | SOLE |  | 612550 | 0 | 132000 |

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