# EDGAR Filing Document

**Accession Number:** 0001738726
**File Stem:** 0001587281-25-000003
**Filing Date:** 2025-8
**Character Count:** 48013
**Document Hash:** f692f57a86aefc59471394943a457f9c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001587281-25-000003.hdr.sgml**: 20250813

**ACCESSION NUMBER**: 0001587281-25-000003

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250813

**DATE AS OF CHANGE**: 20250813

**EFFECTIVENESS DATE**: 20250813

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ceredex Value Advisors LLC
- **CENTRAL INDEX KEY:** 0001738726

**ORGANIZATION NAME:**
- **EIN:** 261482988
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-18745
- **FILM NUMBER:** 251209287

**BUSINESS ADDRESS:**
- **STREET 1:** 301 EAST PINE ST.
- **STREET 2:** SUITE 500
- **CITY:** ORLANDO
- **STATE:** FL
- **ZIP:** 32801
- **BUSINESS PHONE:** 404-566-2129

**MAIL ADDRESS:**
- **STREET 1:** 301 EAST PINE ST.
- **STREET 2:** SUITE 500
- **CITY:** ORLANDO
- **STATE:** FL
- **ZIP:** 32801

### 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:** Ceredex Value Advisors LLC<br>**Address:** 301 EAST PINE ST.<br>SUITE 500<br>ORLANDO, FL 32801

**Form 13F File Number:** 028-18745

**CRD Number (if applicable):** 000146023

**SEC File Number (if applicable):** 801-68739

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:** Matthew Carney<br>**Title:** Chief Compliance Officer<br>**Phone:** 860-503-1346

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

Matthew Carney  Brookhaven, GA  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:** 2

**Form 13F Information Table Entry Total:** 454

**Form 13F Information Table Value Total:** $4656015519

      (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   |
|:---|:---|:---|
|  | VIRTUS CAPITAL ADVISERS LLC    | 028-11308              |
|  | Virtus Investment Advisers LLC | 028-00085              |

### 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 |
| 3M CO | COM | 88579Y101 |  | 12822871 | 84228 | SH |  | OTR |  | 0 | 84228 | 0 |
| 3M CO | COM | 88579Y101 |  | 29353090 | 192808 | SH |  | SOLE |  | 192808 | 0 | 0 |
| 3M CO | COM | 88579Y101 |  | 2472378 | 16240 | SH |  | OTR |  | 0 | 0 | 16240 |
| ADVANCED ENERGY INDS | COM | 007973100 |  | 3445000 | 26000 | SH |  | OTR |  | 0 | 26000 | 0 |
| ADVANCED ENERGY INDS | COM | 007973100 |  | 5584875 | 42150 | SH |  | SOLE |  | 42150 | 0 | 0 |
| ADVANCED ENERGY INDS | COM | 007973100 |  | 2305500 | 17400 | SH |  | SOLE |  | 0 | 0 | 17400 |
| AGREE RLTY CORP | COM | 008492100 |  | 4295928 | 58800 | SH |  | OTR |  | 0 | 58800 | 0 |
| AGREE RLTY CORP | COM | 008492100 |  | 6831110 | 93500 | SH |  | SOLE |  | 93500 | 0 | 0 |
| AGREE RLTY CORP | COM | 008492100 |  | 2867605 | 39250 | SH |  | SOLE |  | 0 | 0 | 39250 |
| ALCON AG | ORD SHS | H01301128 |  | 8964657 | 101548 | SH |  | OTR |  | 0 | 101548 | 0 |
| ALCON AG | ORD SHS | H01301128 |  | 20639511 | 233796 | SH |  | SOLE |  | 233796 | 0 | 0 |
| ALCON AG | ORD SHS | H01301128 |  | 1508793 | 17091 | SH |  | OTR |  | 0 | 0 | 17091 |
| ALLSTATE CORP | COM | 020002101 |  | 25380158 | 126075 | SH |  | OTR |  | 0 | 126075 | 0 |
| ALLSTATE CORP | COM | 020002101 |  | 2299967 | 11425 | SH |  | SOLE |  | 11425 | 0 | 0 |
| ALLY FINL INC | COM | 02005N100 |  | 4960283 | 127350 | SH |  | OTR |  | 0 | 127350 | 0 |
| ALLY FINL INC | COM | 02005N100 |  | 8142498 | 209050 | SH |  | SOLE |  | 209050 | 0 | 0 |
| ALLY FINL INC | COM | 02005N100 |  | 3252325 | 83500 | SH |  | SOLE |  | 0 | 0 | 83500 |
| AMEREN CORP | COM | 023608102 |  | 44035204 | 458509 | SH |  | OTR |  | 0 | 458509 | 0 |
| AMEREN CORP | COM | 023608102 |  | 34893349 | 363321 | SH |  | SOLE |  | 363321 | 0 | 0 |
| AMERICAN HOMES 4 RENT | CL A | 02665T306 |  | 24181328 | 670400 | SH |  | OTR |  | 0 | 670400 | 0 |
| AMERICAN HOMES 4 RENT | CL A | 02665T306 |  | 2124523 | 58900 | SH |  | SOLE |  | 58900 | 0 | 0 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 11261411 | 50952 | SH |  | OTR |  | 0 | 50952 | 0 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 25757008 | 116537 | SH |  | SOLE |  | 116537 | 0 | 0 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 2890942 | 13080 | SH |  | OTR |  | 0 | 0 | 13080 |
| AON PLC | SHS CL A | G0403H108 |  | 14042074 | 39360 | SH |  | OTR |  | 0 | 39360 | 0 |
| AON PLC | SHS CL A | G0403H108 |  | 31952496 | 89563 | SH |  | SOLE |  | 89563 | 0 | 0 |
| AON PLC | SHS CL A | G0403H108 |  | 2565104 | 7190 | SH |  | OTR |  | 0 | 0 | 7190 |
| AUTOLIV INC | COM | 052800109 |  | 3110820 | 27800 | SH |  | OTR |  | 0 | 27800 | 0 |
| AUTOLIV INC | COM | 052800109 |  | 4968360 | 44400 | SH |  | SOLE |  | 44400 | 0 | 0 |
| AUTOLIV INC | COM | 052800109 |  | 2086935 | 18650 | SH |  | SOLE |  | 0 | 0 | 18650 |
| AVIENT CORPORATION | COM | 05368V106 |  | 2988675 | 92500 | SH |  | OTR |  | 0 | 92500 | 0 |
| AVIENT CORPORATION | COM | 05368V106 |  | 4762494 | 147400 | SH |  | SOLE |  | 147400 | 0 | 0 |
| AVIENT CORPORATION | COM | 05368V106 |  | 1998374 | 61850 | SH |  | SOLE |  | 0 | 0 | 61850 |
| AXIS CAP HLDGS LTD | SHS | G0692U109 |  | 3104218 | 29900 | SH |  | OTR |  | 0 | 29900 | 0 |
| AXIS CAP HLDGS LTD | SHS | G0692U109 |  | 4941832 | 47600 | SH |  | SOLE |  | 47600 | 0 | 0 |
| AXIS CAP HLDGS LTD | SHS | G0692U109 |  | 2071209 | 19950 | SH |  | SOLE |  | 0 | 0 | 19950 |
| BANK AMERICA CORP | COM | 060505104 |  | 16006936 | 338270 | SH |  | OTR |  | 0 | 338270 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 37021512 | 782365 | SH |  | SOLE |  | 782365 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 3061841 | 64705 | SH |  | OTR |  | 0 | 0 | 64705 |
| BATH  BODY WORKS INC | COM | 070830104 |  | 2537612 | 84700 | SH |  | OTR |  | 0 | 84700 | 0 |
| BATH  BODY WORKS INC | COM | 070830104 |  | 4050592 | 135200 | SH |  | SOLE |  | 135200 | 0 | 0 |
| BATH  BODY WORKS INC | COM | 070830104 |  | 1701728 | 56800 | SH |  | SOLE |  | 0 | 0 | 56800 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 10233200 | 59409 | SH |  | OTR |  | 0 | 59409 | 0 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 22115522 | 128392 | SH |  | SOLE |  | 128392 | 0 | 0 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 1983114 | 11513 | SH |  | OTR |  | 0 | 0 | 11513 |
| BELDEN INC | COM | 077454106 |  | 4377240 | 37800 | SH |  | OTR |  | 0 | 37800 | 0 |
| BELDEN INC | COM | 077454106 |  | 7005900 | 60500 | SH |  | SOLE |  | 60500 | 0 | 0 |
| BELDEN INC | COM | 077454106 |  | 2935530 | 25350 | SH |  | SOLE |  | 0 | 0 | 25350 |
| BLUE OWL CAPITAL INC | COM CL A | 09581B103 |  | 38665292 | 2012769 | SH |  | OTR |  | 0 | 2012769 | 0 |
| BLUE OWL CAPITAL INC | COM CL A | 09581B103 |  | 23080834 | 1201501 | SH |  | SOLE |  | 1201501 | 0 | 0 |
| BLUE OWL CAPITAL INC | COM CL A | 09581B103 |  | 1703946 | 88701 | SH |  | OTR |  | 0 | 0 | 88701 |
| BOOZ ALLEN HAMILTON HLDG COR | CL A | 099502106 |  | 8856569 | 85053 | SH |  | OTR |  | 0 | 85053 | 0 |
| BOOZ ALLEN HAMILTON HLDG COR | CL A | 099502106 |  | 20487578 | 196750 | SH |  | SOLE |  | 196750 | 0 | 0 |
| BOOZ ALLEN HAMILTON HLDG COR | CL A | 099502106 |  | 1499784 | 14403 | SH |  | OTR |  | 0 | 0 | 14403 |
| BRIXMOR PPTY GROUP INC | COM | 11120U105 |  | 3546648 | 136200 | SH |  | OTR |  | 0 | 136200 | 0 |
| BRIXMOR PPTY GROUP INC | COM | 11120U105 |  | 5736612 | 220300 | SH |  | SOLE |  | 220300 | 0 | 0 |
| BRIXMOR PPTY GROUP INC | COM | 11120U105 |  | 2329278 | 89450 | SH |  | SOLE |  | 0 | 0 | 89450 |
| BRUKER CORP | COM | 116794108 |  | 2710960 | 65800 | SH |  | OTR |  | 0 | 65800 | 0 |
| BRUKER CORP | COM | 116794108 |  | 4307460 | 104550 | SH |  | SOLE |  | 104550 | 0 | 0 |
| BRUKER CORP | COM | 116794108 |  | 1808680 | 43900 | SH |  | SOLE |  | 0 | 0 | 43900 |
| BWX TECHNOLOGIES INC | COM | 05605H100 |  | 2297757 | 15950 | SH |  | OTR |  | 0 | 15950 | 0 |
| BWX TECHNOLOGIES INC | COM | 05605H100 |  | 3662726 | 25425 | SH |  | SOLE |  | 25425 | 0 | 0 |
| BWX TECHNOLOGIES INC | COM | 05605H100 |  | 1527036 | 10600 | SH |  | SOLE |  | 0 | 0 | 10600 |
| CAMDEN PPTY TR | SH BEN INT | 133131102 |  | 4473793 | 39700 | SH |  | OTR |  | 0 | 39700 | 0 |
| CAMDEN PPTY TR | SH BEN INT | 133131102 |  | 7116374 | 63150 | SH |  | SOLE |  | 63150 | 0 | 0 |
| CAMDEN PPTY TR | SH BEN INT | 133131102 |  | 2980651 | 26450 | SH |  | SOLE |  | 0 | 0 | 26450 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 13751530 | 64634 | SH |  | OTR |  | 0 | 64634 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 31191893 | 146606 | SH |  | SOLE |  | 146606 | 0 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 2422698 | 11387 | SH |  | OTR |  | 0 | 0 | 11387 |
| CENTERPOINT ENERGY INC | COM | 15189T107 |  | 29384652 | 799800 | SH |  | OTR |  | 0 | 799800 | 0 |
| CENTERPOINT ENERGY INC | COM | 15189T107 |  | 2729782 | 74300 | SH |  | SOLE |  | 74300 | 0 | 0 |
| CHURCH  DWIGHT CO INC | COM | 171340102 |  | 12906900 | 134293 | SH |  | OTR |  | 0 | 134293 | 0 |
| CHURCH  DWIGHT CO INC | COM | 171340102 |  | 29689244 | 308909 | SH |  | SOLE |  | 308909 | 0 | 0 |
| CHURCH  DWIGHT CO INC | COM | 171340102 |  | 2253683 | 23449 | SH |  | OTR |  | 0 | 0 | 23449 |
| COGENT COMMUNICATIONS HLDGS | COM NEW | 19239V302 |  | 3054104 | 63350 | SH |  | OTR |  | 0 | 63350 | 0 |
| COGENT COMMUNICATIONS HLDGS | COM NEW | 19239V302 |  | 4878852 | 101200 | SH |  | SOLE |  | 101200 | 0 | 0 |
| COGENT COMMUNICATIONS HLDGS | COM NEW | 19239V302 |  | 2036873 | 42250 | SH |  | SOLE |  | 0 | 0 | 42250 |
| COLLIERS INTL GROUP INC | SUB VTG SHS | 194693107 |  | 3335297 | 25550 | SH |  | OTR |  | 0 | 25550 | 0 |
| COLLIERS INTL GROUP INC | SUB VTG SHS | 194693107 |  | 5449392 | 41745 | SH |  | SOLE |  | 41745 | 0 | 0 |
| COLLIERS INTL GROUP INC | SUB VTG SHS | 194693107 |  | 2186545 | 16750 | SH |  | SOLE |  | 0 | 0 | 16750 |
| COLUMBIA BKG SYS INC | COM | 197236102 |  | 4356863 | 186350 | SH |  | OTR |  | 0 | 186350 | 0 |
| COLUMBIA BKG SYS INC | COM | 197236102 |  | 6837481 | 292450 | SH |  | SOLE |  | 292450 | 0 | 0 |
| COLUMBIA BKG SYS INC | COM | 197236102 |  | 2931852 | 125400 | SH |  | SOLE |  | 0 | 0 | 125400 |
| CONCENTRA GROUP HOLDINGS PAR | COMMON STOCK | 20603L102 |  | 2454001 | 119300 | SH |  | OTR |  | 0 | 119300 | 0 |
| CONCENTRA GROUP HOLDINGS PAR | COMMON STOCK | 20603L102 |  | 3982352 | 193600 | SH |  | SOLE |  | 193600 | 0 | 0 |
| CONCENTRA GROUP HOLDINGS PAR | COMMON STOCK | 20603L102 |  | 1627087 | 79100 | SH |  | SOLE |  | 0 | 0 | 79100 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 18870880 | 116000 | SH |  | OTR |  | 0 | 116000 | 0 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 1740676 | 10700 | SH |  | SOLE |  | 10700 | 0 | 0 |
| CORNING INC | COM | 219350105 |  | 28645773 | 544700 | SH |  | OTR |  | 0 | 544700 | 0 |
| CORNING INC | COM | 219350105 |  | 2597946 | 49400 | SH |  | SOLE |  | 49400 | 0 | 0 |
| CROWN CASTLE INC | COM | 22822V101 |  | 27459729 | 267300 | SH |  | OTR |  | 0 | 267300 | 0 |
| CROWN CASTLE INC | COM | 22822V101 |  | 2480930 | 24150 | SH |  | SOLE |  | 24150 | 0 | 0 |
| CUBESMART | COM | 229663109 |  | 2579750 | 60700 | SH |  | OTR |  | 0 | 60700 | 0 |
| CUBESMART | COM | 229663109 |  | 4111875 | 96750 | SH |  | SOLE |  | 96750 | 0 | 0 |
| CUBESMART | COM | 229663109 |  | 1721250 | 40500 | SH |  | SOLE |  | 0 | 0 | 40500 |
| CULLEN FROST BANKERS INC | COM | 229899109 |  | 4685283 | 36450 | SH |  | OTR |  | 0 | 36450 | 0 |
| CULLEN FROST BANKERS INC | COM | 229899109 |  | 7542984 | 58682 | SH |  | SOLE |  | 58682 | 0 | 0 |
| CULLEN FROST BANKERS INC | COM | 229899109 |  | 3097814 | 24100 | SH |  | SOLE |  | 0 | 0 | 24100 |
| DANAHER CORPORATION | COM | 235851102 |  | 14082034 | 71287 | SH |  | OTR |  | 0 | 71287 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 32576914 | 164913 | SH |  | SOLE |  | 164913 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 2602985 | 13177 | SH |  | OTR |  | 0 | 0 | 13177 |
| DELL TECHNOLOGIES INC | CL C | 24703L202 |  | 40902302 | 333624 | SH |  | OTR |  | 0 | 333624 | 0 |
| DELL TECHNOLOGIES INC | CL C | 24703L202 |  | 32414827 | 264395 | SH |  | SOLE |  | 264395 | 0 | 0 |
| DELL TECHNOLOGIES INC | CL C | 24703L202 |  | 2322657 | 18945 | SH |  | OTR |  | 0 | 0 | 18945 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 7827194 | 159154 | SH |  | OTR |  | 0 | 159154 | 0 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 17868569 | 363330 | SH |  | SOLE |  | 363330 | 0 | 0 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 1294565 | 26323 | SH |  | OTR |  | 0 | 0 | 26323 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 |  | 33434366 | 243336 | SH |  | OTR |  | 0 | 243336 | 0 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 |  | 26241614 | 190987 | SH |  | SOLE |  | 190987 | 0 | 0 |
| DICKS SPORTING GOODS INC | COM | 253393102 |  | 25942782 | 131150 | SH |  | OTR |  | 0 | 131150 | 0 |
| DICKS SPORTING GOODS INC | COM | 253393102 |  | 2467680 | 12475 | SH |  | SOLE |  | 12475 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 12512113 | 100896 | SH |  | OTR |  | 0 | 100896 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 28779621 | 232075 | SH |  | SOLE |  | 232075 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 2234784 | 18021 | SH |  | OTR |  | 0 | 0 | 18021 |
| DOVER CORP | COM | 260003108 |  | 28648011 | 156350 | SH |  | OTR |  | 0 | 156350 | 0 |
| DOVER CORP | COM | 260003108 |  | 2638512 | 14400 | SH |  | SOLE |  | 14400 | 0 | 0 |
| DOW INC | COM | 260557103 |  | 9415705 | 355578 | SH |  | OTR |  | 0 | 355578 | 0 |
| DOW INC | COM | 260557103 |  | 21375795 | 807243 | SH |  | SOLE |  | 807243 | 0 | 0 |
| DOW INC | COM | 260557103 |  | 1976255 | 74632 | SH |  | OTR |  | 0 | 0 | 74632 |
| DT MIDSTREAM INC | COMMON STOCK | 23345M107 |  | 3539102 | 32200 | SH |  | OTR |  | 0 | 32200 | 0 |
| DT MIDSTREAM INC | COMMON STOCK | 23345M107 |  | 5643879 | 51350 | SH |  | SOLE |  | 51350 | 0 | 0 |
| DT MIDSTREAM INC | COMMON STOCK | 23345M107 |  | 2357570 | 21450 | SH |  | SOLE |  | 0 | 0 | 21450 |
| EASTGROUP PPTYS INC | COM | 277276101 |  | 32128820 | 192250 | SH |  | OTR |  | 0 | 192250 | 0 |
| EASTGROUP PPTYS INC | COM | 277276101 |  | 9542552 | 57100 | SH |  | SOLE |  | 57100 | 0 | 0 |
| EASTGROUP PPTYS INC | COM | 277276101 |  | 2874464 | 17200 | SH |  | SOLE |  | 0 | 0 | 17200 |
| ELEMENT SOLUTIONS INC | COM | 28618M106 |  | 4553783 | 201050 | SH |  | OTR |  | 0 | 201050 | 0 |
| ELEMENT SOLUTIONS INC | COM | 28618M106 |  | 7260458 | 320550 | SH |  | SOLE |  | 320550 | 0 | 0 |
| ELEMENT SOLUTIONS INC | COM | 28618M106 |  | 3024908 | 133550 | SH |  | SOLE |  | 0 | 0 | 133550 |
| EMCOR GROUP INC | COM | 29084Q100 |  | 24284006 | 45400 | SH |  | OTR |  | 0 | 45400 | 0 |
| EMCOR GROUP INC | COM | 29084Q100 |  | 2259910 | 4225 | SH |  | SOLE |  | 4225 | 0 | 0 |
| ENTERGY CORP NEW | COM | 29364G103 |  | 29258240 | 352000 | SH |  | OTR |  | 0 | 352000 | 0 |
| ENTERGY CORP NEW | COM | 29364G103 |  | 2730492 | 32850 | SH |  | SOLE |  | 32850 | 0 | 0 |
| EQUINIX INC | COM | 29444U700 |  | 24062968 | 30250 | SH |  | OTR |  | 0 | 30250 | 0 |
| EQUINIX INC | COM | 29444U700 |  | 2207429 | 2775 | SH |  | SOLE |  | 2775 | 0 | 0 |
| EQUITY LIFESTYLE PPTYS INC | COM | 29472R108 |  | 14137169 | 229239 | SH |  | OTR |  | 0 | 229239 | 0 |
| EQUITY LIFESTYLE PPTYS INC | COM | 29472R108 |  | 32035407 | 519465 | SH |  | SOLE |  | 519465 | 0 | 0 |
| EQUITY LIFESTYLE PPTYS INC | COM | 29472R108 |  | 2850634 | 46224 | SH |  | OTR |  | 0 | 0 | 46224 |
| ERMENEGILDO ZEGNA N V | ORD SHS | N30577105 |  | 2254635 | 263700 | SH |  | OTR |  | 0 | 263700 | 0 |
| ERMENEGILDO ZEGNA N V | ORD SHS | N30577105 |  | 3649568 | 426850 | SH |  | SOLE |  | 426850 | 0 | 0 |
| ERMENEGILDO ZEGNA N V | ORD SHS | N30577105 |  | 1500098 | 175450 | SH |  | SOLE |  | 0 | 0 | 175450 |
| ESCO TECHNOLOGIES INC | COM | 296315104 |  | 4413010 | 23000 | SH |  | OTR |  | 0 | 23000 | 0 |
| ESCO TECHNOLOGIES INC | COM | 296315104 |  | 6964881 | 36300 | SH |  | SOLE |  | 36300 | 0 | 0 |
| ESCO TECHNOLOGIES INC | COM | 296315104 |  | 2954798 | 15400 | SH |  | SOLE |  | 0 | 0 | 15400 |
| EVERCORE INC | CLASS A | 29977A105 |  | 25273872 | 93600 | SH |  | OTR |  | 0 | 93600 | 0 |
| EVERCORE INC | CLASS A | 29977A105 |  | 7641566 | 28300 | SH |  | SOLE |  | 28300 | 0 | 0 |
| EVERCORE INC | CLASS A | 29977A105 |  | 2254667 | 8350 | SH |  | SOLE |  | 0 | 0 | 8350 |
| EXPAND ENERGY CORPORATION | COM | 165167735 |  | 23580951 | 201650 | SH |  | OTR |  | 0 | 201650 | 0 |
| EXPAND ENERGY CORPORATION | COM | 165167735 |  | 2151696 | 18400 | SH |  | SOLE |  | 18400 | 0 | 0 |
| EXTRA SPACE STORAGE INC | COM | 30225T102 |  | 16358468 | 110950 | SH |  | OTR |  | 0 | 110950 | 0 |
| EXTRA SPACE STORAGE INC | COM | 30225T102 |  | 1474400 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 14582537 | 135274 | SH |  | OTR |  | 0 | 135274 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 33279369 | 308714 | SH |  | SOLE |  | 308714 | 0 | 0 |
| F N B CORP | COM | 302520101 |  | 4468770 | 306500 | SH |  | OTR |  | 0 | 306500 | 0 |
| F N B CORP | COM | 302520101 |  | 7113932 | 487924 | SH |  | SOLE |  | 487924 | 0 | 0 |
| F N B CORP | COM | 302520101 |  | 2967759 | 203550 | SH |  | SOLE |  | 0 | 0 | 203550 |
| FEDEX CORP | COM | 31428X106 |  | 11442785 | 50340 | SH |  | OTR |  | 0 | 50340 | 0 |
| FEDEX CORP | COM | 31428X106 |  | 26023358 | 114484 | SH |  | SOLE |  | 114484 | 0 | 0 |
| FEDEX CORP | COM | 31428X106 |  | 1899175 | 8355 | SH |  | OTR |  | 0 | 0 | 8355 |
| FIRST AMERN FINL CORP | COM | 31847R102 |  | 3176933 | 51750 | SH |  | OTR |  | 0 | 51750 | 0 |
| FIRST AMERN FINL CORP | COM | 31847R102 |  | 5067745 | 82550 | SH |  | SOLE |  | 82550 | 0 | 0 |
| FIRST AMERN FINL CORP | COM | 31847R102 |  | 2127164 | 34650 | SH |  | SOLE |  | 0 | 0 | 34650 |
| FIRST CTZNS BANCSHARES INC N | CL A | 31946M103 |  | 33553461 | 17150 | SH |  | OTR |  | 0 | 17150 | 0 |
| FIRST CTZNS BANCSHARES INC N | CL A | 31946M103 |  | 2993399 | 1530 | SH |  | SOLE |  | 1530 | 0 | 0 |
| FIRST MERCHANTS CORP | COM | 320817109 |  | 4075120 | 106400 | SH |  | OTR |  | 0 | 106400 | 0 |
| FIRST MERCHANTS CORP | COM | 320817109 |  | 6486105 | 169350 | SH |  | SOLE |  | 169350 | 0 | 0 |
| FIRST MERCHANTS CORP | COM | 320817109 |  | 2675255 | 69850 | SH |  | SOLE |  | 0 | 0 | 69850 |
| FLOWSERVE CORP | COM | 34354P105 |  | 22971180 | 438800 | SH |  | OTR |  | 0 | 438800 | 0 |
| FLOWSERVE CORP | COM | 34354P105 |  | 2120175 | 40500 | SH |  | SOLE |  | 40500 | 0 | 0 |
| FORTUNE BRANDS INNOVATIONS I | COM | 34964C106 |  | 3917628 | 76100 | SH |  | OTR |  | 0 | 76100 | 0 |
| FORTUNE BRANDS INNOVATIONS I | COM | 34964C106 |  | 6352632 | 123400 | SH |  | SOLE |  | 123400 | 0 | 0 |
| FORTUNE BRANDS INNOVATIONS I | COM | 34964C106 |  | 2602314 | 50550 | SH |  | SOLE |  | 0 | 0 | 50550 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 37091040 | 855618 | SH |  | OTR |  | 0 | 855618 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 31700945 | 731279 | SH |  | SOLE |  | 731279 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 2476195 | 57121 | SH |  | OTR |  | 0 | 0 | 57121 |
| GE VERNOVA INC | COM | 36828A101 |  | 6228625 | 11771 | SH |  | OTR |  | 0 | 11771 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 14480719 | 27366 | SH |  | SOLE |  | 27366 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 1183179 | 2236 | SH |  | OTR |  | 0 | 0 | 2236 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 23536962 | 80700 | SH |  | OTR |  | 0 | 80700 | 0 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 2165576 | 7425 | SH |  | SOLE |  | 7425 | 0 | 0 |
| GLACIER BANCORP INC NEW | COM | 37637Q105 |  | 4605252 | 106900 | SH |  | OTR |  | 0 | 106900 | 0 |
| GLACIER BANCORP INC NEW | COM | 37637Q105 |  | 7332216 | 170200 | SH |  | SOLE |  | 170200 | 0 | 0 |
| GLACIER BANCORP INC NEW | COM | 37637Q105 |  | 3071604 | 71300 | SH |  | SOLE |  | 0 | 0 | 71300 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 |  | 19195431 | 151300 | SH |  | OTR |  | 0 | 151300 | 0 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 |  | 1757150 | 13850 | SH |  | SOLE |  | 13850 | 0 | 0 |
| HELIOS TECHNOLOGIES INC | COM | 42328H109 |  | 4232985 | 126850 | SH |  | OTR |  | 0 | 126850 | 0 |
| HELIOS TECHNOLOGIES INC | COM | 42328H109 |  | 6939292 | 207950 | SH |  | SOLE |  | 207950 | 0 | 0 |
| HELIOS TECHNOLOGIES INC | COM | 42328H109 |  | 2774716 | 83150 | SH |  | SOLE |  | 0 | 0 | 83150 |
| HERC HLDGS INC | COM | 42704L104 |  | 4457707 | 33850 | SH |  | OTR |  | 0 | 33850 | 0 |
| HERC HLDGS INC | COM | 42704L104 |  | 7180397 | 54525 | SH |  | SOLE |  | 54525 | 0 | 0 |
| HERC HLDGS INC | COM | 42704L104 |  | 2969610 | 22550 | SH |  | SOLE |  | 0 | 0 | 22550 |
| HEXCEL CORP NEW | COM | 428291108 |  | 30707964 | 543600 | SH |  | OTR |  | 0 | 543600 | 0 |
| HEXCEL CORP NEW | COM | 428291108 |  | 9801128 | 173502 | SH |  | SOLE |  | 173502 | 0 | 0 |
| HEXCEL CORP NEW | COM | 428291108 |  | 2979848 | 52750 | SH |  | SOLE |  | 0 | 0 | 52750 |
| HOME DEPOT INC | COM | 437076102 |  | 13745334 | 37490 | SH |  | OTR |  | 0 | 37490 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 31500976 | 85918 | SH |  | SOLE |  | 85918 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 2455021 | 6696 | SH |  | OTR |  | 0 | 0 | 6696 |
| HUBBELL INC | COM | 443510607 |  | 26771276 | 65550 | SH |  | OTR |  | 0 | 65550 | 0 |
| HUBBELL INC | COM | 443510607 |  | 2440250 | 5975 | SH |  | SOLE |  | 5975 | 0 | 0 |
| HUMANA INC | COM | 444859102 |  | 16031776 | 65575 | SH |  | OTR |  | 0 | 65575 | 0 |
| HUMANA INC | COM | 444859102 |  | 1485216 | 6075 | SH |  | SOLE |  | 6075 | 0 | 0 |
| IDACORP INC | COM | 451107106 |  | 6072670 | 52600 | SH |  | OTR |  | 0 | 52600 | 0 |
| IDACORP INC | COM | 451107106 |  | 9501535 | 82300 | SH |  | SOLE |  | 82300 | 0 | 0 |
| IDACORP INC | COM | 451107106 |  | 4040750 | 35000 | SH |  | SOLE |  | 0 | 0 | 35000 |
| INGERSOLL RAND INC | COM | 45687V106 |  | 31885306 | 383329 | SH |  | OTR |  | 0 | 383329 | 0 |
| INGERSOLL RAND INC | COM | 45687V106 |  | 26831539 | 322572 | SH |  | SOLE |  | 322572 | 0 | 0 |
| INGERSOLL RAND INC | COM | 45687V106 |  | 2062282 | 24793 | SH |  | OTR |  | 0 | 0 | 24793 |
| INTERNATIONAL PAPER CO | COM | 460146103 |  | 40771790 | 870634 | SH |  | OTR |  | 0 | 870634 | 0 |
| INTERNATIONAL PAPER CO | COM | 460146103 |  | 32656573 | 697343 | SH |  | SOLE |  | 697343 | 0 | 0 |
| INTERNATIONAL PAPER CO | COM | 460146103 |  | 2188319 | 46729 | SH |  | OTR |  | 0 | 0 | 46729 |
| JABIL INC | COM | 466313103 |  | 23096790 | 105900 | SH |  | OTR |  | 0 | 105900 | 0 |
| JABIL INC | COM | 466313103 |  | 2148285 | 9850 | SH |  | SOLE |  | 9850 | 0 | 0 |
| JACOBS SOLUTIONS INC | COM | 46982L108 |  | 11574304 | 88051 | SH |  | OTR |  | 0 | 88051 | 0 |
| JACOBS SOLUTIONS INC | COM | 46982L108 |  | 26734564 | 203382 | SH |  | SOLE |  | 203382 | 0 | 0 |
| JACOBS SOLUTIONS INC | COM | 46982L108 |  | 2173263 | 16533 | SH |  | OTR |  | 0 | 0 | 16533 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 13587876 | 88955 | SH |  | OTR |  | 0 | 88955 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 31031926 | 203155 | SH |  | SOLE |  | 203155 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 2488298 | 16290 | SH |  | OTR |  | 0 | 0 | 16290 |
| JOHNSON CTLS INTL PLC | SHS | G51502105 |  | 11922280 | 112879 | SH |  | OTR |  | 0 | 112879 | 0 |
| JOHNSON CTLS INTL PLC | SHS | G51502105 |  | 26985593 | 255497 | SH |  | SOLE |  | 255497 | 0 | 0 |
| JOHNSON CTLS INTL PLC | SHS | G51502105 |  | 1970024 | 18652 | SH |  | OTR |  | 0 | 0 | 18652 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 19401067 | 66921 | SH |  | OTR |  | 0 | 66921 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 43630295 | 150496 | SH |  | SOLE |  | 150496 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 3213942 | 11086 | SH |  | OTR |  | 0 | 0 | 11086 |
| KEMPER CORP | COM | 488401100 |  | 3201184 | 49600 | SH |  | OTR |  | 0 | 49600 | 0 |
| KEMPER CORP | COM | 488401100 |  | 5272918 | 81700 | SH |  | SOLE |  | 81700 | 0 | 0 |
| KEMPER CORP | COM | 488401100 |  | 2081415 | 32250 | SH |  | SOLE |  | 0 | 0 | 32250 |
| KEYCORP | COM | 493267108 |  | 46132184 | 2648231 | SH |  | OTR |  | 0 | 2648231 | 0 |
| KEYCORP | COM | 493267108 |  | 35474959 | 2036450 | SH |  | SOLE |  | 2036450 | 0 | 0 |
| KEYCORP | COM | 493267108 |  | 2486270 | 142725 | SH |  | OTR |  | 0 | 0 | 142725 |
| KINSALE CAP GROUP INC | COM | 49714P108 |  | 24436950 | 50500 | SH |  | OTR |  | 0 | 50500 | 0 |
| KINSALE CAP GROUP INC | COM | 49714P108 |  | 5976165 | 12350 | SH |  | SOLE |  | 12350 | 0 | 0 |
| KINSALE CAP GROUP INC | COM | 49714P108 |  | 1621065 | 3350 | SH |  | SOLE |  | 0 | 0 | 3350 |
| KNIGHT-SWIFT TRANSN HLDGS IN | CL A | 499049104 |  | 6168891 | 139473 | SH |  | OTR |  | 0 | 139473 | 0 |
| KNIGHT-SWIFT TRANSN HLDGS IN | CL A | 499049104 |  | 14131485 | 319500 | SH |  | SOLE |  | 319500 | 0 | 0 |
| KNIGHT-SWIFT TRANSN HLDGS IN | CL A | 499049104 |  | 1194564 | 27008 | SH |  | OTR |  | 0 | 0 | 27008 |
| KULICKE  SOFFA INDS INC | COM | 501242101 |  | 3506156 | 101334 | SH |  | OTR |  | 0 | 101334 | 0 |
| KULICKE  SOFFA INDS INC | COM | 501242101 |  | 5627690 | 162650 | SH |  | SOLE |  | 162650 | 0 | 0 |
| KULICKE  SOFFA INDS INC | COM | 501242101 |  | 2329964 | 67340 | SH |  | SOLE |  | 0 | 0 | 67340 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 10508632 | 107958 | SH |  | OTR |  | 0 | 107958 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 23880033 | 245326 | SH |  | SOLE |  | 245326 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 1736838 | 17843 | SH |  | OTR |  | 0 | 0 | 17843 |
| LAS VEGAS SANDS CORP | COM | 517834107 |  | 24137173 | 554750 | SH |  | OTR |  | 0 | 554750 | 0 |
| LAS VEGAS SANDS CORP | COM | 517834107 |  | 2201606 | 50600 | SH |  | SOLE |  | 50600 | 0 | 0 |
| LENNAR CORP | CL A | 526057104 |  | 9847055 | 89025 | SH |  | OTR |  | 0 | 89025 | 0 |
| LENNAR CORP | CL A | 526057104 |  | 22487345 | 203303 | SH |  | SOLE |  | 203303 | 0 | 0 |
| LENNAR CORP | CL A | 526057104 |  | 1630391 | 14740 | SH |  | OTR |  | 0 | 0 | 14740 |
| LEVI STRAUSS  CO NEW | CL A COM STK | 52736R102 |  | 2335287 | 126300 | SH |  | OTR |  | 0 | 126300 | 0 |
| LEVI STRAUSS  CO NEW | CL A COM STK | 52736R102 |  | 3816336 | 206400 | SH |  | SOLE |  | 206400 | 0 | 0 |
| LEVI STRAUSS  CO NEW | CL A COM STK | 52736R102 |  | 1563330 | 84550 | SH |  | SOLE |  | 0 | 0 | 84550 |
| LITTELFUSE INC | COM | 537008104 |  | 3582334 | 15800 | SH |  | OTR |  | 0 | 15800 | 0 |
| LITTELFUSE INC | COM | 537008104 |  | 5832629 | 25725 | SH |  | SOLE |  | 25725 | 0 | 0 |
| LITTELFUSE INC | COM | 537008104 |  | 2380665 | 10500 | SH |  | SOLE |  | 0 | 0 | 10500 |
| LOUISIANA PAC CORP | COM | 546347105 |  | 3267620 | 38000 | SH |  | OTR |  | 0 | 38000 | 0 |
| LOUISIANA PAC CORP | COM | 546347105 |  | 5219593 | 60700 | SH |  | SOLE |  | 60700 | 0 | 0 |
| LOUISIANA PAC CORP | COM | 546347105 |  | 2184146 | 25400 | SH |  | SOLE |  | 0 | 0 | 25400 |
| LPL FINL HLDGS INC | COM | 50212V100 |  | 24579284 | 65550 | SH |  | OTR |  | 0 | 65550 | 0 |
| LPL FINL HLDGS INC | COM | 50212V100 |  | 2249820 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| MATADOR RES CO | COM | 576485205 |  | 5101268 | 106900 | SH |  | OTR |  | 0 | 106900 | 0 |
| MATADOR RES CO | COM | 576485205 |  | 8179208 | 171400 | SH |  | SOLE |  | 171400 | 0 | 0 |
| MATADOR RES CO | COM | 576485205 |  | 3400050 | 71250 | SH |  | SOLE |  | 0 | 0 | 71250 |
| MATERION CORP | COM | 576690101 |  | 2269982 | 28600 | SH |  | OTR |  | 0 | 28600 | 0 |
| MATERION CORP | COM | 576690101 |  | 3551808 | 44750 | SH |  | SOLE |  | 44750 | 0 | 0 |
| MATERION CORP | COM | 576690101 |  | 1508030 | 19000 | SH |  | SOLE |  | 0 | 0 | 19000 |
| MERITAGE HOMES CORP | COM | 59001A102 |  | 3070575 | 45850 | SH |  | OTR |  | 0 | 45850 | 0 |
| MERITAGE HOMES CORP | COM | 59001A102 |  | 4872068 | 72750 | SH |  | SOLE |  | 72750 | 0 | 0 |
| MERITAGE HOMES CORP | COM | 59001A102 |  | 2045934 | 30550 | SH |  | SOLE |  | 0 | 0 | 30550 |
| META PLATFORMS INC | CL A | 30303M102 |  | 12773386 | 17306 | SH |  | OTR |  | 0 | 17306 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 29251983 | 39632 | SH |  | SOLE |  | 39632 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 2114628 | 2865 | SH |  | OTR |  | 0 | 0 | 2865 |
| MICROCHIP TECHNOLOGY INC. | COM | 595017104 |  | 28390777 | 403450 | SH |  | OTR |  | 0 | 403450 | 0 |
| MICROCHIP TECHNOLOGY INC. | COM | 595017104 |  | 2579061 | 36650 | SH |  | SOLE |  | 36650 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 10314546 | 83688 | SH |  | OTR |  | 0 | 83688 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 23556033 | 191124 | SH |  | SOLE |  | 191124 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 1706643 | 13847 | SH |  | OTR |  | 0 | 0 | 13847 |
| MICROSOFT CORP | COM | 594918104 |  | 13741449 | 27626 | SH |  | OTR |  | 0 | 27626 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 31297037 | 62920 | SH |  | SOLE |  | 62920 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 2277640 | 4579 | SH |  | OTR |  | 0 | 0 | 4579 |
| MID-AMER APT CMNTYS INC | COM | 59522J103 |  | 27618666 | 186600 | SH |  | OTR |  | 0 | 186600 | 0 |
| MID-AMER APT CMNTYS INC | COM | 59522J103 |  | 2571674 | 17375 | SH |  | SOLE |  | 17375 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 11720937 | 173798 | SH |  | OTR |  | 0 | 173798 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 26950373 | 399620 | SH |  | SOLE |  | 399620 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 2274616 | 33728 | SH |  | OTR |  | 0 | 0 | 33728 |
| MOODYS CORP | COM | 615369105 |  | 7995846 | 15941 | SH |  | OTR |  | 0 | 15941 | 0 |
| MOODYS CORP | COM | 615369105 |  | 18293990 | 36472 | SH |  | SOLE |  | 36472 | 0 | 0 |
| MOODYS CORP | COM | 615369105 |  | 1878956 | 3746 | SH |  | OTR |  | 0 | 0 | 3746 |
| MOTOROLA SOLUTIONS INC | COM NEW | 620076307 |  | 29684476 | 70600 | SH |  | OTR |  | 0 | 70600 | 0 |
| MOTOROLA SOLUTIONS INC | COM NEW | 620076307 |  | 2711967 | 6450 | SH |  | SOLE |  | 6450 | 0 | 0 |
| MSC INDL DIRECT INC | CL A | 553530106 |  | 4378530 | 51500 | SH |  | OTR |  | 0 | 51500 | 0 |
| MSC INDL DIRECT INC | CL A | 553530106 |  | 7082166 | 83300 | SH |  | SOLE |  | 83300 | 0 | 0 |
| MSC INDL DIRECT INC | CL A | 553530106 |  | 2899182 | 34100 | SH |  | SOLE |  | 0 | 0 | 34100 |
| MURPHY USA INC | COM | 626755102 |  | 3234060 | 7950 | SH |  | OTR |  | 0 | 7950 | 0 |
| MURPHY USA INC | COM | 626755102 |  | 5176530 | 12725 | SH |  | SOLE |  | 12725 | 0 | 0 |
| MURPHY USA INC | COM | 626755102 |  | 2176380 | 5350 | SH |  | SOLE |  | 0 | 0 | 5350 |
| NBT BANCORP INC | COM | 628778102 |  | 4279650 | 103000 | SH |  | OTR |  | 0 | 103000 | 0 |
| NBT BANCORP INC | COM | 628778102 |  | 6822510 | 164200 | SH |  | SOLE |  | 164200 | 0 | 0 |
| NBT BANCORP INC | COM | 628778102 |  | 2788005 | 67100 | SH |  | SOLE |  | 0 | 0 | 67100 |
| NIKE INC | CL B | 654106103 |  | 11528016 | 162275 | SH |  | OTR |  | 0 | 162275 | 0 |
| NIKE INC | CL B | 654106103 |  | 26095265 | 367332 | SH |  | SOLE |  | 367332 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 1972141 | 27761 | SH |  | OTR |  | 0 | 0 | 27761 |
| NNN REIT INC | COM | 637417106 |  | 4318000 | 100000 | SH |  | OTR |  | 0 | 100000 | 0 |
| NNN REIT INC | COM | 637417106 |  | 6706977 | 155326 | SH |  | SOLE |  | 155326 | 0 | 0 |
| NNN REIT INC | COM | 637417106 |  | 2834767 | 65650 | SH |  | SOLE |  | 0 | 0 | 65650 |
| NOV INC | COM | 62955J103 |  | 3119930 | 251000 | SH |  | OTR |  | 0 | 251000 | 0 |
| NOV INC | COM | 62955J103 |  | 5009912 | 403050 | SH |  | SOLE |  | 403050 | 0 | 0 |
| NOV INC | COM | 62955J103 |  | 2069595 | 166500 | SH |  | SOLE |  | 0 | 0 | 166500 |
| NVENT ELECTRIC PLC | SHS | G6700G107 |  | 4709975 | 64300 | SH |  | OTR |  | 0 | 64300 | 0 |
| NVENT ELECTRIC PLC | SHS | G6700G107 |  | 7511788 | 102550 | SH |  | SOLE |  | 102550 | 0 | 0 |
| NVENT ELECTRIC PLC | SHS | G6700G107 |  | 3138763 | 42850 | SH |  | SOLE |  | 0 | 0 | 42850 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 |  | 33255926 | 152208 | SH |  | OTR |  | 0 | 152208 | 0 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 |  | 30815393 | 141038 | SH |  | SOLE |  | 141038 | 0 | 0 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 |  | 2297641 | 10516 | SH |  | OTR |  | 0 | 0 | 10516 |
| OGE ENERGY CORP | COM | 670837103 |  | 5551938 | 125100 | SH |  | OTR |  | 0 | 125100 | 0 |
| OGE ENERGY CORP | COM | 670837103 |  | 8824963 | 198850 | SH |  | SOLE |  | 198850 | 0 | 0 |
| OGE ENERGY CORP | COM | 670837103 |  | 3703511 | 83450 | SH |  | SOLE |  | 0 | 0 | 83450 |
| OWENS CORNING NEW | COM | 690742101 |  | 30508812 | 221850 | SH |  | OTR |  | 0 | 221850 | 0 |
| OWENS CORNING NEW | COM | 690742101 |  | 2942928 | 21400 | SH |  | SOLE |  | 21400 | 0 | 0 |
| PERELLA WEINBERG PARTNERS | CLASS A COM | 71367G102 |  | 2541748 | 130883 | SH |  | OTR |  | 0 | 130883 | 0 |
| PERELLA WEINBERG PARTNERS | CLASS A COM | 71367G102 |  | 4091192 | 210669 | SH |  | SOLE |  | 210669 | 0 | 0 |
| PERELLA WEINBERG PARTNERS | CLASS A COM | 71367G102 |  | 1689326 | 86989 | SH |  | SOLE |  | 0 | 0 | 86989 |
| PINNACLE FINL PARTNERS INC | COM | 72346Q104 |  | 4802835 | 43500 | SH |  | OTR |  | 0 | 43500 | 0 |
| PINNACLE FINL PARTNERS INC | COM | 72346Q104 |  | 7554804 | 68425 | SH |  | SOLE |  | 68425 | 0 | 0 |
| PINNACLE FINL PARTNERS INC | COM | 72346Q104 |  | 3218452 | 29150 | SH |  | SOLE |  | 0 | 0 | 29150 |
| POTLATCHDELTIC CORPORATION | COM | 737630103 |  | 3589514 | 93550 | SH |  | OTR |  | 0 | 93550 | 0 |
| POTLATCHDELTIC CORPORATION | COM | 737630103 |  | 5807300 | 151350 | SH |  | SOLE |  | 151350 | 0 | 0 |
| POTLATCHDELTIC CORPORATION | COM | 737630103 |  | 2357837 | 61450 | SH |  | SOLE |  | 0 | 0 | 61450 |
| POWER INTEGRATIONS INC | COM | 739276103 |  | 3401515 | 60850 | SH |  | OTR |  | 0 | 60850 | 0 |
| POWER INTEGRATIONS INC | COM | 739276103 |  | 5475405 | 97950 | SH |  | SOLE |  | 97950 | 0 | 0 |
| POWER INTEGRATIONS INC | COM | 739276103 |  | 2269540 | 40600 | SH |  | SOLE |  | 0 | 0 | 40600 |
| PPG INDS INC | COM | 693506107 |  | 27538875 | 242100 | SH |  | OTR |  | 0 | 242100 | 0 |
| PPG INDS INC | COM | 693506107 |  | 2513875 | 22100 | SH |  | SOLE |  | 22100 | 0 | 0 |
| PPL CORP | COM | 69351T106 |  | 44402915 | 1310207 | SH |  | OTR |  | 0 | 1310207 | 0 |
| PPL CORP | COM | 69351T106 |  | 35017893 | 1033281 | SH |  | SOLE |  | 1033281 | 0 | 0 |
| PRIMO BRANDS CORPORATION | CLASS A COM SHS | 741623102 |  | 28516655 | 962750 | SH |  | OTR |  | 0 | 962750 | 0 |
| PRIMO BRANDS CORPORATION | CLASS A COM SHS | 741623102 |  | 9542083 | 322150 | SH |  | SOLE |  | 322150 | 0 | 0 |
| PRIMO BRANDS CORPORATION | CLASS A COM SHS | 741623102 |  | 3095290 | 104500 | SH |  | SOLE |  | 0 | 0 | 104500 |
| PROSPERITY BANCSHARES INC | COM | 743606105 |  | 4038800 | 57500 | SH |  | OTR |  | 0 | 57500 | 0 |
| PROSPERITY BANCSHARES INC | COM | 743606105 |  | 6791927 | 96696 | SH |  | SOLE |  | 96696 | 0 | 0 |
| PROSPERITY BANCSHARES INC | COM | 743606105 |  | 2641024 | 37600 | SH |  | SOLE |  | 0 | 0 | 37600 |
| QUAKER HOUGHTON | COM | 747316107 |  | 3884318 | 34700 | SH |  | OTR |  | 0 | 34700 | 0 |
| QUAKER HOUGHTON | COM | 747316107 |  | 6190282 | 55300 | SH |  | SOLE |  | 55300 | 0 | 0 |
| QUAKER HOUGHTON | COM | 747316107 |  | 2597008 | 23200 | SH |  | SOLE |  | 0 | 0 | 23200 |
| QUANTA SVCS INC | COM | 74762E102 |  | 22883292 | 60525 | SH |  | OTR |  | 0 | 60525 | 0 |
| QUANTA SVCS INC | COM | 74762E102 |  | 2098344 | 5550 | SH |  | SOLE |  | 5550 | 0 | 0 |
| RANGE RES CORP | COM | 75281A109 |  | 4896668 | 120400 | SH |  | OTR |  | 0 | 120400 | 0 |
| RANGE RES CORP | COM | 75281A109 |  | 7765937 | 190950 | SH |  | SOLE |  | 190950 | 0 | 0 |
| RANGE RES CORP | COM | 75281A109 |  | 3259701 | 80150 | SH |  | SOLE |  | 0 | 0 | 80150 |
| RAYMOND JAMES FINL INC | COM | 754730109 |  | 12724649 | 82967 | SH |  | OTR |  | 0 | 82967 | 0 |
| RAYMOND JAMES FINL INC | COM | 754730109 |  | 28857486 | 188156 | SH |  | SOLE |  | 188156 | 0 | 0 |
| RAYMOND JAMES FINL INC | COM | 754730109 |  | 2110064 | 13758 | SH |  | OTR |  | 0 | 0 | 13758 |
| REGAL REXNORD CORPORATION | COM | 758750103 |  | 30477840 | 210250 | SH |  | OTR |  | 0 | 210250 | 0 |
| REGAL REXNORD CORPORATION | COM | 758750103 |  | 9998616 | 68975 | SH |  | SOLE |  | 68975 | 0 | 0 |
| REGAL REXNORD CORPORATION | COM | 758750103 |  | 3297840 | 22750 | SH |  | SOLE |  | 0 | 0 | 22750 |
| REVVITY INC | COM | 714046109 |  | 29893734 | 309075 | SH |  | OTR |  | 0 | 309075 | 0 |
| REVVITY INC | COM | 714046109 |  | 24942250 | 257881 | SH |  | SOLE |  | 257881 | 0 | 0 |
| REVVITY INC | COM | 714046109 |  | 1916797 | 19818 | SH |  | OTR |  | 0 | 0 | 19818 |
| REYNOLDS CONSUMER PRODS INC | COM | 76171L106 |  | 2818872 | 131600 | SH |  | OTR |  | 0 | 131600 | 0 |
| REYNOLDS CONSUMER PRODS INC | COM | 76171L106 |  | 4497129 | 209950 | SH |  | SOLE |  | 209950 | 0 | 0 |
| REYNOLDS CONSUMER PRODS INC | COM | 76171L106 |  | 1889244 | 88200 | SH |  | SOLE |  | 0 | 0 | 88200 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 35488711 | 106839 | SH |  | OTR |  | 0 | 106839 | 0 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 37104053 | 111702 | SH |  | SOLE |  | 111702 | 0 | 0 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 2872274 | 8647 | SH |  | OTR |  | 0 | 0 | 8647 |
| ROPER TECHNOLOGIES INC | COM | 776696106 |  | 25734536 | 45400 | SH |  | OTR |  | 0 | 45400 | 0 |
| ROPER TECHNOLOGIES INC | COM | 776696106 |  | 2366557 | 4175 | SH |  | SOLE |  | 4175 | 0 | 0 |
| ROSS STORES INC | COM | 778296103 |  | 23168528 | 181600 | SH |  | OTR |  | 0 | 181600 | 0 |
| ROSS STORES INC | COM | 778296103 |  | 2124207 | 16650 | SH |  | SOLE |  | 16650 | 0 | 0 |
| ROYAL CARIBBEAN GROUP | COM | V7780T103 |  | 9135233 | 29173 | SH |  | OTR |  | 0 | 29173 | 0 |
| ROYAL CARIBBEAN GROUP | COM | V7780T103 |  | 20850114 | 66584 | SH |  | SOLE |  | 66584 | 0 | 0 |
| ROYAL CARIBBEAN GROUP | COM | V7780T103 |  | 1515598 | 4840 | SH |  | OTR |  | 0 | 0 | 4840 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 12932860 | 382629 | SH |  | OTR |  | 0 | 382629 | 0 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 28941318 | 856252 | SH |  | SOLE |  | 856252 | 0 | 0 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 3839410 | 113592 | SH |  | OTR |  | 0 | 0 | 113592 |
| SCHNEIDER NATIONAL INC | CL B | 80689H102 |  | 3972675 | 164500 | SH |  | OTR |  | 0 | 164500 | 0 |
| SCHNEIDER NATIONAL INC | CL B | 80689H102 |  | 6309188 | 261250 | SH |  | SOLE |  | 261250 | 0 | 0 |
| SCHNEIDER NATIONAL INC | CL B | 80689H102 |  | 2642010 | 109400 | SH |  | SOLE |  | 0 | 0 | 109400 |
| SEACOAST BKG CORP FLA | COM NEW | 811707801 |  | 4797594 | 173700 | SH |  | OTR |  | 0 | 173700 | 0 |
| SEACOAST BKG CORP FLA | COM NEW | 811707801 |  | 7837175 | 283750 | SH |  | SOLE |  | 283750 | 0 | 0 |
| SEACOAST BKG CORP FLA | COM NEW | 811707801 |  | 3141775 | 113750 | SH |  | SOLE |  | 0 | 0 | 113750 |
| SELECTIVE INS GROUP INC | COM | 816300107 |  | 3349023 | 38650 | SH |  | OTR |  | 0 | 38650 | 0 |
| SELECTIVE INS GROUP INC | COM | 816300107 |  | 5480613 | 63250 | SH |  | SOLE |  | 63250 | 0 | 0 |
| SELECTIVE INS GROUP INC | COM | 816300107 |  | 2226905 | 25700 | SH |  | SOLE |  | 0 | 0 | 25700 |
| SERVISFIRST BANCSHARES INC | COM | 81768T108 |  | 4398693 | 56750 | SH |  | OTR |  | 0 | 56750 | 0 |
| SERVISFIRST BANCSHARES INC | COM | 81768T108 |  | 7041784 | 90850 | SH |  | SOLE |  | 90850 | 0 | 0 |
| SERVISFIRST BANCSHARES INC | COM | 81768T108 |  | 2922127 | 37700 | SH |  | SOLE |  | 0 | 0 | 37700 |
| SIMPSON MFG INC | COM | 829073105 |  | 3851688 | 24800 | SH |  | OTR |  | 0 | 24800 | 0 |
| SIMPSON MFG INC | COM | 829073105 |  | 6224048 | 40075 | SH |  | SOLE |  | 40075 | 0 | 0 |
| SIMPSON MFG INC | COM | 829073105 |  | 2562615 | 16500 | SH |  | SOLE |  | 0 | 0 | 16500 |
| SOMNIGROUP INTERNATIONAL INC | COM | 88023U101 |  | 24028455 | 353100 | SH |  | OTR |  | 0 | 353100 | 0 |
| SOMNIGROUP INTERNATIONAL INC | COM | 88023U101 |  | 2163990 | 31800 | SH |  | SOLE |  | 31800 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 10012500 | 109033 | SH |  | OTR |  | 0 | 109033 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 22969897 | 250135 | SH |  | SOLE |  | 250135 | 0 | 0 |
| SOUTHSTATE CORPORATION | COM | 840441109 |  | 4569290 | 49650 | SH |  | OTR |  | 0 | 49650 | 0 |
| SOUTHSTATE CORPORATION | COM | 840441109 |  | 7543239 | 81965 | SH |  | SOLE |  | 81965 | 0 | 0 |
| SOUTHSTATE CORPORATION | COM | 840441109 |  | 3000178 | 32600 | SH |  | SOLE |  | 0 | 0 | 32600 |
| STARBUCKS CORP | COM | 855244109 |  | 14530227 | 158575 | SH |  | OTR |  | 0 | 158575 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 33600080 | 366693 | SH |  | SOLE |  | 366693 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 2571871 | 28068 | SH |  | OTR |  | 0 | 0 | 28068 |
| TD SYNNEX CORPORATION | COM | 87162W100 |  | 30702125 | 226250 | SH |  | OTR |  | 0 | 226250 | 0 |
| TD SYNNEX CORPORATION | COM | 87162W100 |  | 10950990 | 80700 | SH |  | SOLE |  | 80700 | 0 | 0 |
| TD SYNNEX CORPORATION | COM | 87162W100 |  | 3582480 | 26400 | SH |  | SOLE |  | 0 | 0 | 26400 |
| TE CONNECTIVITY PLC | ORD SHS | G87052109 |  | 27223338 | 161400 | SH |  | OTR |  | 0 | 161400 | 0 |
| TE CONNECTIVITY PLC | ORD SHS | G87052109 |  | 2487883 | 14750 | SH |  | SOLE |  | 14750 | 0 | 0 |
| TENNANT CO | COM | 880345103 |  | 3405246 | 43950 | SH |  | OTR |  | 0 | 43950 | 0 |
| TENNANT CO | COM | 880345103 |  | 5400356 | 69700 | SH |  | SOLE |  | 69700 | 0 | 0 |
| TENNANT CO | COM | 880345103 |  | 2262416 | 29200 | SH |  | SOLE |  | 0 | 0 | 29200 |
| TIMKEN CO | COM | 887389104 |  | 4396530 | 60600 | SH |  | OTR |  | 0 | 60600 | 0 |
| TIMKEN CO | COM | 887389104 |  | 7184264 | 99025 | SH |  | SOLE |  | 99025 | 0 | 0 |
| TIMKEN CO | COM | 887389104 |  | 2887490 | 39800 | SH |  | SOLE |  | 0 | 0 | 39800 |
| TOLL BROTHERS INC | COM | 889478103 |  | 20143945 | 176500 | SH |  | OTR |  | 0 | 176500 | 0 |
| TOLL BROTHERS INC | COM | 889478103 |  | 1868879 | 16375 | SH |  | SOLE |  | 16375 | 0 | 0 |
| TXNM ENERGY INC | COM | 69349H107 |  | 2280960 | 40500 | SH |  | OTR |  | 0 | 40500 | 0 |
| TXNM ENERGY INC | COM | 69349H107 |  | 3624192 | 64350 | SH |  | SOLE |  | 64350 | 0 | 0 |
| TXNM ENERGY INC | COM | 69349H107 |  | 1520640 | 27000 | SH |  | SOLE |  | 0 | 0 | 27000 |
| UMB FINL CORP | COM | 902788108 |  | 4900456 | 46600 | SH |  | OTR |  | 0 | 46600 | 0 |
| UMB FINL CORP | COM | 902788108 |  | 7766066 | 73850 | SH |  | SOLE |  | 73850 | 0 | 0 |
| UMB FINL CORP | COM | 902788108 |  | 3317798 | 31550 | SH |  | SOLE |  | 0 | 0 | 31550 |
| UNITED RENTALS INC | COM | 911363109 |  | 39104474 | 51904 | SH |  | OTR |  | 0 | 51904 | 0 |
| UNITED RENTALS INC | COM | 911363109 |  | 32590577 | 43258 | SH |  | SOLE |  | 43258 | 0 | 0 |
| UNITED RENTALS INC | COM | 911363109 |  | 2564574 | 3404 | SH |  | OTR |  | 0 | 0 | 3404 |
| VAIL RESORTS INC | COM | 91879Q109 |  | 2003408 | 12750 | SH |  | OTR |  | 0 | 12750 | 0 |
| VAIL RESORTS INC | COM | 91879Q109 |  | 3205452 | 20400 | SH |  | SOLE |  | 20400 | 0 | 0 |
| VAIL RESORTS INC | COM | 91879Q109 |  | 1343462 | 8550 | SH |  | SOLE |  | 0 | 0 | 8550 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 23046309 | 171450 | SH |  | OTR |  | 0 | 171450 | 0 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 2090231 | 15550 | SH |  | SOLE |  | 15550 | 0 | 0 |
| VALMONT INDS INC | COM | 920253101 |  | 3380000 | 10350 | SH |  | OTR |  | 0 | 10350 | 0 |
| VALMONT INDS INC | COM | 920253101 |  | 5437391 | 16650 | SH |  | SOLE |  | 16650 | 0 | 0 |
| VALMONT INDS INC | COM | 920253101 |  | 2220676 | 6800 | SH |  | SOLE |  | 0 | 0 | 6800 |
| VENTAS INC | COM | 92276F100 |  | 26434590 | 418600 | SH |  | OTR |  | 0 | 418600 | 0 |
| VENTAS INC | COM | 92276F100 |  | 2421803 | 38350 | SH |  | SOLE |  | 38350 | 0 | 0 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 |  | 29791120 | 232000 | SH |  | OTR |  | 0 | 232000 | 0 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 |  | 2792918 | 21750 | SH |  | SOLE |  | 21750 | 0 | 0 |
| VONTIER CORPORATION | COM | 928881101 |  | 25765425 | 698250 | SH |  | OTR |  | 0 | 698250 | 0 |
| VONTIER CORPORATION | COM | 928881101 |  | 9108765 | 246850 | SH |  | SOLE |  | 246850 | 0 | 0 |
| VONTIER CORPORATION | COM | 928881101 |  | 2902185 | 78650 | SH |  | SOLE |  | 0 | 0 | 78650 |
| VOYA FINANCIAL INC | COM | 929089100 |  | 3486100 | 49100 | SH |  | OTR |  | 0 | 49100 | 0 |
| VOYA FINANCIAL INC | COM | 929089100 |  | 5669350 | 79850 | SH |  | SOLE |  | 79850 | 0 | 0 |
| VOYA FINANCIAL INC | COM | 929089100 |  | 2311050 | 32550 | SH |  | SOLE |  | 0 | 0 | 32550 |
| VULCAN MATLS CO | COM | 929160109 |  | 26303697 | 100850 | SH |  | OTR |  | 0 | 100850 | 0 |
| VULCAN MATLS CO | COM | 929160109 |  | 2445188 | 9375 | SH |  | SOLE |  | 9375 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 7990093 | 81715 | SH |  | OTR |  | 0 | 81715 | 0 |
| WALMART INC | COM | 931142103 |  | 18224432 | 186382 | SH |  | SOLE |  | 186382 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 1741951 | 17815 | SH |  | OTR |  | 0 | 0 | 17815 |
| WESCO INTL INC | COM | 95082P105 |  | 4630000 | 25000 | SH |  | OTR |  | 0 | 25000 | 0 |
| WESCO INTL INC | COM | 95082P105 |  | 7375590 | 39825 | SH |  | SOLE |  | 39825 | 0 | 0 |
| WESCO INTL INC | COM | 95082P105 |  | 3102100 | 16750 | SH |  | SOLE |  | 0 | 0 | 16750 |
| WESTERN DIGITAL CORP | COM | 958102105 |  | 27432513 | 428700 | SH |  | OTR |  | 0 | 428700 | 0 |
| WESTERN DIGITAL CORP | COM | 958102105 |  | 2521206 | 39400 | SH |  | SOLE |  | 39400 | 0 | 0 |
| WILEY JOHN  SONS INC | CL A | 968223206 |  | 2124388 | 47600 | SH |  | OTR |  | 0 | 47600 | 0 |
| WILEY JOHN  SONS INC | CL A | 968223206 |  | 3347250 | 75000 | SH |  | SOLE |  | 75000 | 0 | 0 |
| WILEY JOHN  SONS INC | CL A | 968223206 |  | 1410308 | 31600 | SH |  | SOLE |  | 0 | 0 | 31600 |
| WILLIAMS COS INC | COM | 969457100 |  | 25343835 | 403500 | SH |  | OTR |  | 0 | 403500 | 0 |
| WILLIAMS COS INC | COM | 969457100 |  | 2280003 | 36300 | SH |  | SOLE |  | 36300 | 0 | 0 |
| WINTRUST FINL CORP | COM | 97650W108 |  | 5033588 | 40600 | SH |  | OTR |  | 0 | 40600 | 0 |
| WINTRUST FINL CORP | COM | 97650W108 |  | 7854133 | 63350 | SH |  | SOLE |  | 63350 | 0 | 0 |
| WINTRUST FINL CORP | COM | 97650W108 |  | 3390853 | 27350 | SH |  | SOLE |  | 0 | 0 | 27350 |

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