# EDGAR Filing Document

**Accession Number:** 0001142941
**File Stem:** 0001398344-25-014162
**Filing Date:** 2025-7
**Character Count:** 32489
**Document Hash:** bb03dee8ec4b3c4d896bd20caff72826
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-25-014162.hdr.sgml**: 20250730

**ACCESSION NUMBER**: 0001398344-25-014162

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250730

**DATE AS OF CHANGE**: 20250730

**EFFECTIVENESS DATE**: 20250730

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DENALI ADVISORS LLC
- **CENTRAL INDEX KEY:** 0001142941

**ORGANIZATION NAME:**
- **EIN:** 330957285
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-10130
- **FILM NUMBER:** 251165977

**BUSINESS ADDRESS:**
- **STREET 1:** 5075 SHOREHAM PLACE
- **STREET 2:** SUITE 120
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92122
- **BUSINESS PHONE:** 858-558-3600

**MAIL ADDRESS:**
- **STREET 1:** 5075 SHOREHAM PLACE
- **STREET 2:** SUITE 120
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92122

### 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:** DENALI ADVISORS LLC<br>**Address:** 5075 SHOREHAM PLACE<br>SUITE 120<br>SAN DIEGO, CA 92122

**Form 13F File Number:** 028-10130

**CRD Number (if applicable):** 000110242

**SEC File Number (if applicable):** 801-60039

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:** Adam Fagan<br>**Title:** Chief Compliance Officer<br>**Phone:** 907-306-9561

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

/s/ Adam Fagan  Chicago, IL  07-30-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[ ] **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).)

[x] **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:** 288

**Form 13F Information Table Value Total:** $960100957

      (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   | CRD Number   | SEC File Number   |
|---:|:---|:---|:---|:---|
|     1 | Bank of New York Mellon Corp | 028-12592              |  |  |

### 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 |  | 6520516 | 105051 | SH |  | SOLE |  | 8500 | 0 | 96551 |
| ACCEL ENTERTAINMENT INC | COM CL A1 | 00436Q106 |  | 1066868 | 90643 | SH |  | SOLE |  | 7300 | 0 | 83343 |
| ADOBE INC | COM | 00724F101 |  | 538151 | 1391 | SH |  | SOLE |  | 34 | 0 | 1357 |
| AFLAC INC | COM | 001055102 |  | 1228082 | 11645 | SH |  | SOLE |  | 11645 | 0 | 0 |
| AGNICO EAGLE MINES LTD | COM | 008474108 |  | 6132671 | 51576 | SH |  | SOLE |  | 43633 | 0 | 7943 |
| ALBERTSONS COS INC | COMMON STOCK | 013091103 |  | 980318 | 45575 | SH |  | SOLE |  | 45575 | 0 | 0 |
| ALEXANDERS INC | COM | 014752109 |  | 6291835 | 27924 | SH |  | SOLE |  | 510 | 0 | 27414 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 788086 | 6949 | SH |  | SOLE |  | 223 | 0 | 6726 |
| ALPHA METALLURGICAL RESOUR I | COM | 020764106 |  | 2655765 | 23611 | SH |  | SOLE |  | 1700 | 0 | 21911 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 18815058 | 106066 | SH |  | SOLE |  | 40219 | 0 | 65847 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 986888 | 5600 | SH |  | SOLE |  | 5600 | 0 | 0 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 |  | 7094130 | 145193 | SH |  | SOLE |  | 20026 | 0 | 125167 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 8088712 | 137962 | SH |  | SOLE |  | 88113 | 0 | 49849 |
| A-MARK PRECIOUS METALS INC | COM | 00181T107 |  | 221800 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| AMAZON COM INC | COM | 023135106 |  | 28175819 | 128428 | SH |  | SOLE |  | 62582 | 0 | 65846 |
| AMC NETWORKS INC | CL A | 00164V103 |  | 1412844 | 225334 | SH |  | SOLE |  | 24700 | 0 | 200634 |
| AMDOCS LTD | SHS | G02602103 |  | 539228 | 5910 | SH |  | SOLE |  | 5910 | 0 | 0 |
| AMERICAN INTL GROUP INC | COM NEW | 026874784 |  | 402273 | 4700 | SH |  | SOLE |  | 4700 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 32352569 | 157687 | SH |  | SOLE |  | 57471 | 0 | 100216 |
| APPLIED MATLS INC | COM | 038222105 |  | 1432621 | 7825 | SH |  | SOLE |  | 198 | 0 | 7627 |
| ARCH CAP GROUP LTD | ORD | G0450A105 |  | 749615 | 8233 | SH |  | SOLE |  | 8233 | 0 | 0 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 |  | 1255478 | 23787 | SH |  | SOLE |  | 23787 | 0 | 0 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 12373383 | 563451 | SH |  | SOLE |  | 18138 | 0 | 545313 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 1814365 | 17734 | SH |  | SOLE |  | 448 | 0 | 17286 |
| ARROW ELECTRS INC | COM | 042735100 |  | 207838 | 1631 | SH |  | SOLE |  | 1631 | 0 | 0 |
| ASTRAZENECA PLC | SPONSORED ADR | 046353108 |  | 976713 | 13977 | SH |  | SOLE |  | 1200 | 0 | 12777 |
| AT INC | COM | 00206R102 |  | 11606025 | 401037 | SH |  | SOLE |  | 227847 | 0 | 173190 |
| ATKORE INC | COM | 047649108 |  | 3740984 | 53026 | SH |  | SOLE |  | 4500 | 0 | 48526 |
| AUTONATION INC | COM | 05329W102 |  | 248313 | 1250 | SH |  | SOLE |  | 1250 | 0 | 0 |
| AVNET INC | COM | 053807103 |  | 404151 | 7614 | SH |  | SOLE |  | 7614 | 0 | 0 |
| BAIN CAP SPECIALTY FIN INC | COM STK | 05684B107 |  | 531792 | 35359 | SH |  | SOLE |  | 0 | 0 | 35359 |
| BANCFIRST CORP | COM | 05945F103 |  | 4860986 | 39322 | SH |  | SOLE |  | 3900 | 0 | 35422 |
| BANK AMERICA CORP | COM | 060505104 |  | 970060 | 20500 | SH |  | SOLE |  | 20500 | 0 | 0 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 573993 | 6300 | SH |  | SOLE |  | 6300 | 0 | 0 |
| BANK OF NT BUTTERFIELD L | SHS NEW | G0772R208 |  | 6653247 | 150254 | SH |  | SOLE |  | 12579 | 0 | 137675 |
| BARCLAYS PLC | ADR | 06738E204 |  | 496001 | 26681 | SH |  | SOLE |  | 418 | 0 | 26263 |
| BARINGS BDC INC | COM | 06759L103 |  | 1229362 | 134504 | SH |  | SOLE |  | 0 | 0 | 134504 |
| BEAZER HOMES USA INC | COM NEW | 07556Q881 |  | 3068649 | 137177 | SH |  | SOLE |  | 10417 | 0 | 126760 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 4887817 | 10062 | SH |  | SOLE |  | 9342 | 0 | 720 |
| BHP GROUP LTD | SPONSORED ADS | 088606108 |  | 421750 | 8770 | SH |  | SOLE |  | 1093 | 0 | 7677 |
| BLACKROCK INC | COM | 09290D101 |  | 2969378 | 2830 | SH |  | SOLE |  | 2830 | 0 | 0 |
| BLACKSTONE SECD LENDING FD | COMMON STOCK | 09261X102 |  | 9341250 | 303781 | SH |  | SOLE |  | 8570 | 0 | 295211 |
| BLUE OWL CAPITAL CORPORATION | COM | 69121K104 |  | 9037332 | 630218 | SH |  | SOLE |  | 14378 | 0 | 615840 |
| BP PLC | SPONSORED ADR | 055622104 |  | 898601 | 30024 | SH |  | SOLE |  | 3732 | 0 | 26292 |
| BROADCOM INC | COM | 11135F101 |  | 16029280 | 58151 | SH |  | SOLE |  | 9097 | 0 | 49054 |
| BROOKFIELD ASSET MANAGMT LTD | CL A LMT VTG SHS | 113004105 |  | 339087 | 6134 | SH |  | SOLE |  | 764 | 0 | 5370 |
| BROOKFIELD CORP | CL A LTD VT SH | 11271J107 |  | 1465041 | 23687 | SH |  | SOLE |  | 2129 | 0 | 21558 |
| BUCKLE INC | COM | 118440106 |  | 6969161 | 153675 | SH |  | SOLE |  | 12400 | 0 | 141275 |
| BUNGE GLOBAL SA | COM SHS | H11356104 |  | 308034 | 3837 | SH |  | SOLE |  | 3837 | 0 | 0 |
| BWX TECHNOLOGIES INC | COM | 05605H100 |  | 1788505 | 12415 | SH |  | SOLE |  | 310 | 0 | 12105 |
| BYLINE BANCORP INC | COM | 124411109 |  | 2386615 | 89286 | SH |  | SOLE |  | 7641 | 0 | 81645 |
| CAL MAINE FOODS INC | COM NEW | 128030202 |  | 3203503 | 32154 | SH |  | SOLE |  | 3136 | 0 | 29018 |
| CAPITAL SOUTHWEST CORP | COM | 140501107 |  | 2509257 | 113850 | SH |  | SOLE |  | 5040 | 0 | 108810 |
| CARDINAL HEALTH INC | COM | 14149Y108 |  | 5550720 | 33040 | SH |  | SOLE |  | 33040 | 0 | 0 |
| CARLYLE SECURED LENDING INC | COM | 872280102 |  | 1811683 | 132433 | SH |  | SOLE |  | 0 | 0 | 132433 |
| CASEYS GEN STORES INC | COM | 147528103 |  | 1695627 | 3323 | SH |  | SOLE |  | 85 | 0 | 3238 |
| CATERPILLAR INC | COM | 149123101 |  | 1074954 | 2769 | SH |  | SOLE |  | 70 | 0 | 2699 |
| CATHAY GEN BANCORP | COM | 149150104 |  | 6749640 | 148246 | SH |  | SOLE |  | 11974 | 0 | 136272 |
| CENTRAL GARDEN  PET CO | CL A NON-VTG | 153527205 |  | 1242213 | 39700 | SH |  | SOLE |  | 2100 | 0 | 37600 |
| CENTRUS ENERGY CORP | CL A | 15643U104 |  | 256452 | 1400 | SH |  | SOLE |  | 0 | 0 | 1400 |
| CF INDS HLDGS INC | COM | 125269100 |  | 222180 | 2415 | SH |  | SOLE |  | 2415 | 0 | 0 |
| CHARTER COMMUNICATIONS INC N | CL A | 16119P108 |  | 942716 | 2306 | SH |  | SOLE |  | 2306 | 0 | 0 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 5330658 | 21890 | SH |  | SOLE |  | 15016 | 0 | 6874 |
| CHEVRON CORP NEW | COM | 166764100 |  | 816263 | 5701 | SH |  | SOLE |  | 5700 | 0 | 1 |
| CIRRUS LOGIC INC | COM | 172755100 |  | 292644 | 2807 | SH |  | SOLE |  | 2807 | 0 | 0 |
| CNA FINL CORP | COM | 126117100 |  | 228928 | 4920 | SH |  | SOLE |  | 4920 | 0 | 0 |
| CNO FINL GROUP INC | COM | 12621E103 |  | 578970 | 15007 | SH |  | SOLE |  | 2600 | 0 | 12407 |
| COGNIZANT TECHNOLOGY SOLUTIO | CL A | 192446102 |  | 906396 | 11616 | SH |  | SOLE |  | 11616 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 506799 | 14200 | SH |  | SOLE |  | 14200 | 0 | 0 |
| CONSENSUS CLOUD SOLUTIONS IN | COM | 20848V105 |  | 5622950 | 243840 | SH |  | SOLE |  | 20419 | 0 | 223421 |
| CONSOLIDATED EDISON INC | COM | 209115104 |  | 412338 | 4109 | SH |  | SOLE |  | 4109 | 0 | 0 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 4319177 | 13382 | SH |  | SOLE |  | 12173 | 0 | 1209 |
| COREBRIDGE FINL INC | COM | 21871X109 |  | 1062693 | 29935 | SH |  | SOLE |  | 29935 | 0 | 0 |
| COSTAMARE BULKERS HLDGS LTD | COM SHS | Y2001C101 |  | 797857 | 92025 | SH |  | SOLE |  | 7520 | 0 | 84505 |
| COSTAMARE INC | SHS | Y1771G102 |  | 6583396 | 722656 | SH |  | SOLE |  | 60495 | 0 | 662161 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 10981553 | 11093 | SH |  | SOLE |  | 5627 | 0 | 5466 |
| COTERRA ENERGY INC | COM | 127097103 |  | 397045 | 15644 | SH |  | SOLE |  | 15644 | 0 | 0 |
| CRESCENT CAP BDC INC | COM | 225655109 |  | 2167043 | 153691 | SH |  | SOLE |  | 7288 | 0 | 146403 |
| D R HORTON INC | COM | 23331A109 |  | 387920 | 3009 | SH |  | SOLE |  | 3009 | 0 | 0 |
| DEVON ENERGY CORP NEW | COM | 25179M103 |  | 271562 | 8537 | SH |  | SOLE |  | 8537 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 1155111 | 6626 | SH |  | SOLE |  | 829 | 0 | 5797 |
| DNOW INC | COM | 67011P100 |  | 2619037 | 176604 | SH |  | SOLE |  | 15609 | 0 | 160995 |
| DOLE PLC | ORD SHS | G27907107 |  | 2260560 | 161584 | SH |  | SOLE |  | 11800 | 0 | 149784 |
| DREAM FINDERS HOMES INC | COM CL A | 26154D100 |  | 7886046 | 313810 | SH |  | SOLE |  | 25358 | 0 | 288452 |
| DROPBOX INC | CL A | 26210C104 |  | 413527 | 14459 | SH |  | SOLE |  | 14459 | 0 | 0 |
| EAST WEST BANCORP INC | COM | 27579R104 |  | 243564 | 2412 | SH |  | SOLE |  | 2412 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 9959411 | 12776 | SH |  | SOLE |  | 5737 | 0 | 7039 |
| EMBECTA CORP | COMMON STOCK | 29082K105 |  | 477000 | 49226 | SH |  | SOLE |  | 4300 | 0 | 44926 |
| EMCOR GROUP INC | COM | 29084Q100 |  | 267445 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| ENACT HLDGS INC | COM | 29249E109 |  | 6456113 | 173785 | SH |  | SOLE |  | 14101 | 0 | 159684 |
| ENNIS INC | COM | 293389102 |  | 916578 | 50528 | SH |  | SOLE |  | 4505 | 0 | 46023 |
| ENTERPRISE FINL SVCS CORP | COM | 293712105 |  | 6718013 | 121924 | SH |  | SOLE |  | 9765 | 0 | 112159 |
| EOG RES INC | COM | 26875P101 |  | 765504 | 6400 | SH |  | SOLE |  | 6400 | 0 | 0 |
| EVERCORE INC | CLASS A | 29977A105 |  | 359405 | 1331 | SH |  | SOLE |  | 56 | 0 | 1275 |
| EXELIXIS INC | COM | 30161Q104 |  | 446127 | 10122 | SH |  | SOLE |  | 10122 | 0 | 0 |
| EXELON CORP | COM | 30161N101 |  | 464594 | 10700 | SH |  | SOLE |  | 10700 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1140416 | 10579 | SH |  | SOLE |  | 10478 | 0 | 101 |
| F ANNUITIES  LIFE INC | COMMON STOCK | 30190A104 |  | 5546387 | 173433 | SH |  | SOLE |  | 14149 | 0 | 159284 |
| FABRINET | SHS | G3323L100 |  | 315013 | 1069 | SH |  | SOLE |  | 35 | 0 | 1034 |
| FERRARI N V | COM | N3167Y103 |  | 367084 | 748 | SH |  | SOLE |  | 32 | 0 | 716 |
| FIFTH THIRD BANCORP | COM | 316773100 |  | 260723 | 6339 | SH |  | SOLE |  | 6339 | 0 | 0 |
| FIRST FINL BANCORP OH | COM | 320209109 |  | 6368857 | 262525 | SH |  | SOLE |  | 21400 | 0 | 241125 |
| FIRST MERCHANTS CORP | COM | 320817109 |  | 6678907 | 174384 | SH |  | SOLE |  | 13900 | 0 | 160484 |
| FLEX LTD | ORD | Y2573F102 |  | 3642811 | 72973 | SH |  | SOLE |  | 62540 | 0 | 10433 |
| FORESTAR GROUP INC | COM | 346232101 |  | 6736540 | 336827 | SH |  | SOLE |  | 27861 | 0 | 308966 |
| FOX CORP | CL A COM | 35137L105 |  | 568526 | 10145 | SH |  | SOLE |  | 10145 | 0 | 0 |
| FS KKR CAP CORP | COM | 302635206 |  | 6391985 | 308047 | SH |  | SOLE |  | 4759 | 0 | 303288 |
| GAMING  LEISURE PPTYS INC | COM | 36467J108 |  | 1663313 | 35632 | SH |  | SOLE |  | 11653 | 0 | 23979 |
| GARMIN LTD | SHS | H2906T109 |  | 480056 | 2300 | SH |  | SOLE |  | 2300 | 0 | 0 |
| GE HEALTHCARE TECHNOLOGIES I | COMMON STOCK | 36266G107 |  | 370350 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| GEN DIGITAL INC | COM | 668771108 |  | 373380 | 12700 | SH |  | SOLE |  | 12700 | 0 | 0 |
| GENERAL MTRS CO | COM | 37045V100 |  | 600362 | 12200 | SH |  | SOLE |  | 12200 | 0 | 0 |
| GLADSTONE CAPITAL CORP | COM NEW | 376535878 |  | 871158 | 32301 | SH |  | SOLE |  | 0 | 0 | 32301 |
| GLOBAL INDUSTRIAL COMPANY | COM | 37892E102 |  | 4477664 | 165778 | SH |  | SOLE |  | 11900 | 0 | 153878 |
| GLOBAL X FDS | GLOBAL X COPPER | 37954Y830 |  | 721395 | 16031 | SH |  | SOLE |  | 9023 | 0 | 7008 |
| GLOBALFOUNDRIES INC | ORDINARY SHARES | G39387108 |  | 535831 | 14027 | SH |  | SOLE |  | 14027 | 0 | 0 |
| GOLDEN OCEAN GROUP LTD | SHS NEW | G39637205 |  | 360481 | 49246 | SH |  | SOLE |  | 3100 | 0 | 46146 |
| GOLDMAN SACHS BDC INC | SHS | 38147U107 |  | 1875651 | 166725 | SH |  | SOLE |  | 6262 | 0 | 160463 |
| GOLUB CAP BDC INC | COM | 38173M102 |  | 7942468 | 542148 | SH |  | SOLE |  | 16606 | 0 | 525542 |
| GRAHAM HLDGS CO | COM CL B | 384637104 |  | 1705944 | 1803 | SH |  | SOLE |  | 202 | 0 | 1601 |
| GRANITE RIDGE RESOURCES INC | COM | 387432107 |  | 888137 | 139425 | SH |  | SOLE |  | 14454 | 0 | 124971 |
| GREEN BRICK PARTNERS INC | COM | 392709101 |  | 6949309 | 110517 | SH |  | SOLE |  | 8963 | 0 | 101554 |
| GREIF INC | CL A | 397624107 |  | 7517198 | 115667 | SH |  | SOLE |  | 9312 | 0 | 106355 |
| GSK PLC | SPONSORED ADR | 37733W204 |  | 1223001 | 31849 | SH |  | SOLE |  | 3168 | 0 | 28681 |
| HAMILTON INSURANCE GROUP LTD | CL B | G42706104 |  | 1174528 | 54326 | SH |  | SOLE |  | 4400 | 0 | 49926 |
| HARMONY BIOSCIENCES HLDGS IN | COM | 413197104 |  | 2507997 | 79367 | SH |  | SOLE |  | 6828 | 0 | 72539 |
| HARMONY GOLD MINING CO LTD | SPONSORED ADR | 413216300 |  | 334749 | 23962 | SH |  | SOLE |  | 375 | 0 | 23587 |
| HCA HEALTHCARE INC | COM | 40412C101 |  | 498030 | 1300 | SH |  | SOLE |  | 1300 | 0 | 0 |
| HERCULES CAPITAL INC | COM | 427096508 |  | 6102824 | 333853 | SH |  | SOLE |  | 10314 | 0 | 323539 |
| HIGHPEAK ENERGY INC | COM | 43114Q105 |  | 5120745 | 522525 | SH |  | SOLE |  | 41175 | 0 | 481350 |
| HOME DEPOT INC | COM | 437076102 |  | 8233879 | 22457 | SH |  | SOLE |  | 9033 | 0 | 13424 |
| HONEYWELL INTL INC | COM | 438516106 |  | 499294 | 2144 | SH |  | SOLE |  | 268 | 0 | 1876 |
| HOVNANIAN ENTERPRISES INC | CL A NEW | 442487401 |  | 1705001 | 16308 | SH |  | SOLE |  | 1500 | 0 | 14808 |
| HP INC | COM | 40434L105 |  | 493163 | 20162 | SH |  | SOLE |  | 20162 | 0 | 0 |
| IBEX LTD | SHS NEW | G4690M101 |  | 3029194 | 104096 | SH |  | SOLE |  | 10147 | 0 | 93949 |
| INGLES MKTS INC | CL A | 457030104 |  | 6407021 | 101089 | SH |  | SOLE |  | 8239 | 0 | 92850 |
| INMODE LTD | SHS | M5425M103 |  | 503248 | 34851 | SH |  | SOLE |  | 2132 | 0 | 32719 |
| INNOVIVA INC | COM | 45781M101 |  | 6683159 | 332661 | SH |  | SOLE |  | 26700 | 0 | 305961 |
| INTERCONTINENTAL HOTELS GROU | SPONSORED ADS | 45857P806 |  | 446942 | 3875 | SH |  | SOLE |  | 60 | 0 | 3815 |
| INTERNATIONAL BANCSHARES COR | COM | 459044103 |  | 6813880 | 102372 | SH |  | SOLE |  | 8323 | 0 | 94049 |
| INTERNATIONAL SEAWAYS INC | COM | Y41053102 |  | 915648 | 25100 | SH |  | SOLE |  | 0 | 0 | 25100 |
| INTUIT | COM | 461202103 |  | 1265792 | 1607 | SH |  | SOLE |  | 39 | 0 | 1568 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 1988882 | 3660 | SH |  | SOLE |  | 91 | 0 | 3569 |
| IRON MTN INC DEL | COM | 46284V101 |  | 1478649 | 14416 | SH |  | SOLE |  | 1802 | 0 | 12614 |
| ISHARES INC | MSCI GBL GOLD MN | 46434G855 |  | 458858 | 10481 | SH |  | SOLE |  | 5900 | 0 | 4581 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 2881661 | 29049 | SH |  | SOLE |  | 16351 | 0 | 12698 |
| ISHARES TR | MSCI INDIA ETF | 46429B598 |  | 473280 | 8500 | SH |  | SOLE |  | 0 | 0 | 8500 |
| ISHARES TR | MSCI SAUDI ARBIA | 46434V423 |  | 450918 | 11700 | SH |  | SOLE |  | 0 | 0 | 11700 |
| ISHARES TR | MSCI QATAR ETF | 46434V779 |  | 104272 | 5600 | SH |  | SOLE |  | 0 | 0 | 5600 |
| ISHARES TR | 0-3 MNTH TREASRY | 46436E718 |  | 909129 | 9029 | SH |  | SOLE |  | 5082 | 0 | 3947 |
| JACKSON FINANCIAL INC | COM CL A | 46817M107 |  | 6166110 | 69446 | SH |  | SOLE |  | 5912 | 0 | 63534 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 770594 | 5044 | SH |  | SOLE |  | 631 | 0 | 4413 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 5035737 | 17370 | SH |  | SOLE |  | 17370 | 0 | 0 |
| KB HOME | COM | 48666K109 |  | 2228924 | 42079 | SH |  | SOLE |  | 3757 | 0 | 38322 |
| KEURIG DR PEPPER INC | COM | 49271V100 |  | 1140908 | 34511 | SH |  | SOLE |  | 4299 | 0 | 30212 |
| KINROSS GOLD CORP | COM | 496902404 |  | 4033947 | 258090 | SH |  | SOLE |  | 16141 | 0 | 241949 |
| KKR  CO INC | COM | 48251W104 |  | 1964601 | 14769 | SH |  | SOLE |  | 1069 | 0 | 13700 |
| LADDER CAP CORP | CL A | 505743104 |  | 2642608 | 245824 | SH |  | SOLE |  | 3800 | 0 | 242024 |
| LENNAR CORP | CL A | 526057104 |  | 299864 | 2711 | SH |  | SOLE |  | 2711 | 0 | 0 |
| LOEWS CORP | COM | 540424108 |  | 413753 | 4514 | SH |  | SOLE |  | 4514 | 0 | 0 |
| LTC PPTYS INC | COM | 502175102 |  | 865665 | 25012 | SH |  | SOLE |  | 500 | 0 | 24512 |
| MAIN STR CAP CORP | COM | 56035L104 |  | 8994912 | 152199 | SH |  | SOLE |  | 5100 | 0 | 147099 |
| MARATHON PETE CORP | COM | 56585A102 |  | 548163 | 3300 | SH |  | SOLE |  | 3300 | 0 | 0 |
| MARKEL GROUP INC | COM | 570535104 |  | 281628 | 141 | SH |  | SOLE |  | 141 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 660996 | 8540 | SH |  | SOLE |  | 219 | 0 | 8321 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 7053471 | 12552 | SH |  | SOLE |  | 5785 | 0 | 6767 |
| MCDONALDS CORP | COM | 580135101 |  | 2943207 | 10074 | SH |  | SOLE |  | 863 | 0 | 9211 |
| MCKESSON CORP | COM | 58155Q103 |  | 2164696 | 2954 | SH |  | SOLE |  | 74 | 0 | 2880 |
| MERCHANTS BANCORP IND | COM | 58844R108 |  | 6630866 | 200510 | SH |  | SOLE |  | 16564 | 0 | 183946 |
| MERITAGE HOMES CORP | COM | 59001A102 |  | 596301 | 8904 | SH |  | SOLE |  | 900 | 0 | 8004 |
| META PLATFORMS INC | CL A | 30303M102 |  | 24058051 | 32595 | SH |  | SOLE |  | 14110 | 0 | 18485 |
| MICROSOFT CORP | COM | 594918104 |  | 47058822 | 94608 | SH |  | SOLE |  | 32443 | 0 | 62165 |
| MIDCAP FINANCIAL INVSTMNT CO | COM NEW | 03761U502 |  | 1106528 | 87681 | SH |  | SOLE |  | 0 | 0 | 87681 |
| MITSUBISHI UFJ FINL GROUP IN | SPONSORED ADS | 606822104 |  | 387810 | 28266 | SH |  | SOLE |  | 446 | 0 | 27820 |
| MORGAN STANLEY DIRECT LENDIN | COM SHS | 61774A103 |  | 1620796 | 86581 | SH |  | SOLE |  | 0 | 0 | 86581 |
| MOVADO GROUP INC | COM | 624580106 |  | 1118999 | 73377 | SH |  | SOLE |  | 7137 | 0 | 66240 |
| MRC GLOBAL INC | COM | 55345K103 |  | 629289 | 45900 | SH |  | SOLE |  | 0 | 0 | 45900 |
| MURPHY OIL CORP | COM | 626717102 |  | 2586961 | 114976 | SH |  | SOLE |  | 9539 | 0 | 105437 |
| NATIONAL BEVERAGE CORP | COM | 635017106 |  | 6055762 | 140050 | SH |  | SOLE |  | 11282 | 0 | 128768 |
| NAVIENT CORPORATION | COM | 63938C108 |  | 2241674 | 158984 | SH |  | SOLE |  | 9200 | 0 | 149784 |
| NELNET INC | CL A | 64031N108 |  | 5380393 | 44422 | SH |  | SOLE |  | 4100 | 0 | 40322 |
| NETFLIX INC | COM | 64110L106 |  | 17400655 | 12994 | SH |  | SOLE |  | 6925 | 0 | 6069 |
| NEW MTN FIN CORP | COM | 647551100 |  | 1221964 | 115826 | SH |  | SOLE |  | 0 | 0 | 115826 |
| NMI HLDGS INC | COM | 629209305 |  | 7256427 | 171994 | SH |  | SOLE |  | 13911 | 0 | 158083 |
| NORTHERN OIL  GAS INC | COM | 665531307 |  | 5714821 | 201581 | SH |  | SOLE |  | 15887 | 0 | 185694 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 |  | 2639592 | 21813 | SH |  | SOLE |  | 2020 | 0 | 19793 |
| NUCOR CORP | COM | 670346105 |  | 793044 | 6122 | SH |  | SOLE |  | 6122 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 47616185 | 301387 | SH |  | SOLE |  | 112758 | 0 | 188629 |
| NVR INC | COM | 62944T105 |  | 886279 | 120 | SH |  | SOLE |  | 120 | 0 | 0 |
| OAKTREE SPECIALTY LENDING CO | COM | 67401P405 |  | 1973290 | 144458 | SH |  | SOLE |  | 5989 | 0 | 138469 |
| OCEANFIRST FINL CORP | COM | 675234108 |  | 417551 | 23711 | SH |  | SOLE |  | 2600 | 0 | 21111 |
| OMEGA HEALTHCARE INVS INC | COM | 681936100 |  | 1675454 | 45715 | SH |  | SOLE |  | 5701 | 0 | 40014 |
| ORACLE CORP | COM | 68389X105 |  | 6390353 | 29229 | SH |  | SOLE |  | 26004 | 0 | 3225 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 1606117 | 17820 | SH |  | SOLE |  | 435 | 0 | 17385 |
| ORGANON  CO | COMMON STOCK | 68622V106 |  | 99230 | 10251 | SH |  | SOLE |  | 10251 | 0 | 0 |
| OTTER TAIL CORP | COM | 689648103 |  | 6103601 | 79175 | SH |  | SOLE |  | 6636 | 0 | 72539 |
| OVINTIV INC | COM | 69047Q102 |  | 397318 | 10442 | SH |  | SOLE |  | 10442 | 0 | 0 |
| PACCAR INC | COM | 693718108 |  | 508571 | 5350 | SH |  | SOLE |  | 5350 | 0 | 0 |
| PAGSEGURO DIGITAL LTD | COM CL A | G68707101 |  | 413161 | 42859 | SH |  | SOLE |  | 759 | 0 | 42100 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 8850031 | 64921 | SH |  | SOLE |  | 37962 | 0 | 26959 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 5371596 | 26249 | SH |  | SOLE |  | 14321 | 0 | 11928 |
| PATHWARD FINANCIAL INC | COM | 59100U108 |  | 3827034 | 48370 | SH |  | SOLE |  | 48370 | 0 | 0 |
| PATRIA INVESTMENTS LIMITED | COM CL A | G69451105 |  | 3301555 | 234819 | SH |  | SOLE |  | 22700 | 0 | 212119 |
| PBF ENERGY INC | CL A | 69318G106 |  | 2236647 | 103214 | SH |  | SOLE |  | 9763 | 0 | 93451 |
| PC CONNECTION INC | COM | 69318J100 |  | 4382987 | 66631 | SH |  | SOLE |  | 5000 | 0 | 61631 |
| PEABODY ENERGY CORP | COM | 704551100 |  | 2029990 | 151266 | SH |  | SOLE |  | 25811 | 0 | 125455 |
| PENNANTPARK FLOATING RATE CA | COM | 70806A106 |  | 713834 | 69103 | SH |  | SOLE |  | 0 | 0 | 69103 |
| PENNANTPARK INVT CORP | COM | 708062104 |  | 730343 | 106775 | SH |  | SOLE |  | 6985 | 0 | 99790 |
| PENSKE AUTOMOTIVE GRP INC | COM | 70959W103 |  | 904751 | 5266 | SH |  | SOLE |  | 5266 | 0 | 0 |
| PEOPLES BANCORP INC | COM | 709789101 |  | 1329192 | 43523 | SH |  | SOLE |  | 3700 | 0 | 39823 |
| PEPSICO INC | COM | 713448108 |  | 384521 | 2913 | SH |  | SOLE |  | 363 | 0 | 2550 |
| PERDOCEO ED CORP | COM | 71363P106 |  | 3522478 | 107754 | SH |  | SOLE |  | 8600 | 0 | 99154 |
| PFIZER INC | COM | 717081103 |  | 768416 | 31700 | SH |  | SOLE |  | 31700 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 4233975 | 23247 | SH |  | SOLE |  | 1855 | 0 | 21392 |
| PHOTRONICS INC | COM | 719405102 |  | 2688227 | 142763 | SH |  | SOLE |  | 10300 | 0 | 132463 |
| PILGRIMS PRIDE CORP | COM | 72147K108 |  | 538725 | 11977 | SH |  | SOLE |  | 11977 | 0 | 0 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 801606 | 4300 | SH |  | SOLE |  | 4300 | 0 | 0 |
| PREFORMED LINE PRODS CO | COM | 740444104 |  | 985228 | 6165 | SH |  | SOLE |  | 462 | 0 | 5703 |
| PRINCIPAL FINANCIAL GROUP IN | COM | 74251V102 |  | 1148002 | 14453 | SH |  | SOLE |  | 14453 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 1665372 | 10453 | SH |  | SOLE |  | 1368 | 0 | 9085 |
| PROSPECT CAP CORP | COM | 74348T102 |  | 397373 | 124960 | SH |  | SOLE |  | 0 | 0 | 124960 |
| PULTE GROUP INC | COM | 745867101 |  | 1195916 | 11340 | SH |  | SOLE |  | 11340 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 430002 | 2700 | SH |  | SOLE |  | 2700 | 0 | 0 |
| RADIAN GROUP INC | COM | 750236101 |  | 2988796 | 82976 | SH |  | SOLE |  | 10835 | 0 | 72141 |
| REGIONS FINANCIAL CORP NEW | COM | 7591EP100 |  | 411859 | 17511 | SH |  | SOLE |  | 17511 | 0 | 0 |
| RELX PLC | SPONSORED ADR | 759530108 |  | 859149 | 15811 | SH |  | SOLE |  | 502 | 0 | 15309 |
| REPUBLIC BANCORP INC KY | CL A | 760281204 |  | 1861673 | 25464 | SH |  | SOLE |  | 757 | 0 | 24707 |
| RILEY EXPLORATION PERMIAN IN | COM | 76665T102 |  | 744538 | 28385 | SH |  | SOLE |  | 2271 | 0 | 26114 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 |  | 9661774 | 103191 | SH |  | SOLE |  | 78789 | 0 | 24402 |
| RPC INC | COM | 749660106 |  | 1191601 | 251924 | SH |  | SOLE |  | 19800 | 0 | 232124 |
| RUSH ENTERPRISES INC | CL A | 781846209 |  | 6785773 | 131737 | SH |  | SOLE |  | 10623 | 0 | 121114 |
| S  T BANCORP INC | COM | 783859101 |  | 1842704 | 48723 | SH |  | SOLE |  | 4000 | 0 | 44723 |
| SAFE BULKERS INC | COM | Y7388L103 |  | 3357593 | 930081 | SH |  | SOLE |  | 88483 | 0 | 841598 |
| SANDRIDGE ENERGY INC | COM NEW | 80007P869 |  | 3627556 | 335264 | SH |  | SOLE |  | 29388 | 0 | 305876 |
| SAP SE | SPON ADR | 803054204 |  | 1671667 | 5497 | SH |  | SOLE |  | 157 | 0 | 5340 |
| SAUL CTRS INC | COM | 804395101 |  | 457271 | 13394 | SH |  | SOLE |  | 488 | 0 | 12906 |
| SCANSOURCE INC | COM | 806037107 |  | 374409 | 8955 | SH |  | SOLE |  | 1049 | 0 | 7906 |
| SEA LTD | SPONSORD ADS | 81141R100 |  | 2203494 | 13777 | SH |  | SOLE |  | 10037 | 0 | 3740 |
| SERVICENOW INC | COM | 81762P102 |  | 3078071 | 2994 | SH |  | SOLE |  | 83 | 0 | 2911 |
| SHELL PLC | SPON ADS | 780259305 |  | 1173317 | 16664 | SH |  | SOLE |  | 2073 | 0 | 14591 |
| SIGA TECHNOLOGIES INC | COM | 826917106 |  | 2549992 | 391103 | SH |  | SOLE |  | 37523 | 0 | 353580 |
| SIXTH STREET SPECIALTY LENDI | COM | 83012A109 |  | 4730693 | 198685 | SH |  | SOLE |  | 5804 | 0 | 192881 |
| SLR INVESTMENT CORP | COM | 83413U100 |  | 2094067 | 129744 | SH |  | SOLE |  | 4645 | 0 | 125099 |
| SM ENERGY CO | COM | 78454L100 |  | 6471598 | 261902 | SH |  | SOLE |  | 20672 | 0 | 241230 |
| SONIC AUTOMOTIVE INC | CL A | 83545G102 |  | 4529393 | 56667 | SH |  | SOLE |  | 5339 | 0 | 51328 |
| SONY GROUP CORP | SPONSORED ADR | 835699307 |  | 320403 | 12309 | SH |  | SOLE |  | 193 | 0 | 12116 |
| SOUTHERN COPPER CORP | COM | 84265V105 |  | 2475880 | 24472 | SH |  | SOLE |  | 9494 | 0 | 14978 |
| SS TECHNOLOGIES HLDGS INC | COM | 78467J100 |  | 539111 | 6511 | SH |  | SOLE |  | 6511 | 0 | 0 |
| STATE STR CORP | COM | 857477103 |  | 1098599 | 10331 | SH |  | SOLE |  | 10331 | 0 | 0 |
| STEEL DYNAMICS INC | COM | 858119100 |  | 404821 | 3162 | SH |  | SOLE |  | 3144 | 0 | 18 |
| STMICROELECTRONICS N V | NY REGISTRY | 861012102 |  | 422638 | 13898 | SH |  | SOLE |  | 218 | 0 | 13680 |
| STRYKER CORPORATION | COM | 863667101 |  | 1193220 | 3016 | SH |  | SOLE |  | 76 | 0 | 2940 |
| SYLVAMO CORP | COMMON STOCK | 871332102 |  | 812923 | 16226 | SH |  | SOLE |  | 26 | 0 | 16200 |
| SYNCHRONY FINANCIAL | COM | 87165B103 |  | 984215 | 14747 | SH |  | SOLE |  | 14747 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 3432456 | 15155 | SH |  | SOLE |  | 410 | 0 | 14745 |
| TEEKAY CORPORATION LTD | SHS | G8726T105 |  | 483731 | 58634 | SH |  | SOLE |  | 3834 | 0 | 54800 |
| TEEKAY TANKERS LTD | CL A | G8726X106 |  | 5164853 | 123798 | SH |  | SOLE |  | 11230 | 0 | 112568 |
| TEGNA INC | COM | 87901J105 |  | 6434348 | 383911 | SH |  | SOLE |  | 31125 | 0 | 352786 |
| TELEFONAKTIEBOLAGET LM ERICS | ADR B SEK 10 | 294821608 |  | 3889759 | 458698 | SH |  | SOLE |  | 342235 | 0 | 116463 |
| TESLA INC | COM | 88160R101 |  | 9754704 | 30708 | SH |  | SOLE |  | 10888 | 0 | 19820 |
| THOMSON REUTERS CORP | COM | 884903808 |  | 5951993 | 29646 | SH |  | SOLE |  | 24468 | 0 | 5178 |
| TRINITY CAP INC | COM | 896442308 |  | 1442597 | 102530 | SH |  | SOLE |  | 0 | 0 | 102530 |
| TRIP COM GROUP LTD | ADS | 89677Q107 |  | 619180 | 10559 | SH |  | SOLE |  | 327 | 0 | 10232 |
| UNION PAC CORP | COM | 907818108 |  | 2171332 | 9438 | SH |  | SOLE |  | 687 | 0 | 8751 |
| UNITED AIRLS HLDGS INC | COM | 910047109 |  | 390744 | 4907 | SH |  | SOLE |  | 4907 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 595546 | 5900 | SH |  | SOLE |  | 5900 | 0 | 0 |
| UNITED RENTALS INC | COM | 911363109 |  | 1491732 | 1980 | SH |  | SOLE |  | 48 | 0 | 1932 |
| UNITED THERAPEUTICS CORP DEL | COM | 91307C102 |  | 344820 | 1200 | SH |  | SOLE |  | 1200 | 0 | 0 |
| UNIVERSAL LOGISTICS HLDGS IN | COM | 91388P105 |  | 2569065 | 101224 | SH |  | SOLE |  | 8774 | 0 | 92450 |
| USANA HEALTH SCIENCES INC | COM | 90328M107 |  | 500967 | 16409 | SH |  | SOLE |  | 1600 | 0 | 14809 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 497354 | 3700 | SH |  | SOLE |  | 3700 | 0 | 0 |
| VANGUARD MALVERN FDS | STRM INFPROIDX | 922020805 |  | 486915 | 9686 | SH |  | SOLE |  | 5452 | 0 | 4234 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 50006 | 629 | SH |  | SOLE |  | 402 | 0 | 227 |
| VANGUARD SCOTTSDALE FDS | LG-TERM COR BD | 92206C813 |  | 1416674 | 18665 | SH |  | SOLE |  | 10506 | 0 | 8159 |
| VERISIGN INC | COM | 92343E102 |  | 607346 | 2103 | SH |  | SOLE |  | 2103 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 1946501 | 44985 | SH |  | SOLE |  | 21808 | 0 | 23177 |
| VICI PPTYS INC | COM | 925652109 |  | 1132165 | 34729 | SH |  | SOLE |  | 34729 | 0 | 0 |
| VICTORY CAP HLDGS INC | COM CL A | 92645B103 |  | 6702986 | 105277 | SH |  | SOLE |  | 8626 | 0 | 96651 |
| VIRTUS INVT PARTNERS INC | COM | 92828Q109 |  | 1633326 | 9004 | SH |  | SOLE |  | 1000 | 0 | 8004 |
| VISA INC | COM CL A | 92826C839 |  | 4253506 | 11980 | SH |  | SOLE |  | 337 | 0 | 11643 |
| VISTRA CORP | COM | 92840M102 |  | 9907377 | 51119 | SH |  | SOLE |  | 22004 | 0 | 29115 |
| VITAL ENERGY INC | COM | 516806205 |  | 538452 | 33465 | SH |  | SOLE |  | 1445 | 0 | 32020 |
| WALMART INC | COM | 931142103 |  | 10238554 | 104710 | SH |  | SOLE |  | 55437 | 0 | 49273 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 7291906 | 31868 | SH |  | SOLE |  | 19938 | 0 | 11930 |
| WEIS MKTS INC | COM | 948849104 |  | 1900108 | 26212 | SH |  | SOLE |  | 2100 | 0 | 24112 |
| WELLTOWER INC | COM | 95040Q104 |  | 2213097 | 14396 | SH |  | SOLE |  | 1796 | 0 | 12600 |
| WESTAMERICA BANCORPORATION | COM | 957090103 |  | 5190443 | 107152 | SH |  | SOLE |  | 8600 | 0 | 98552 |
| WORTHINGTON ENTERPRISES INC | COM | 981811102 |  | 3992264 | 62732 | SH |  | SOLE |  | 5000 | 0 | 57732 |

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