# EDGAR Filing Document

**Accession Number:** 0002011184
**File Stem:** 0002011184-25-000013
**Filing Date:** 2025-8
**Character Count:** 20989
**Document Hash:** 9468791470a3c0fd85763687df41a773
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002011184-25-000013.hdr.sgml**: 20250813

**ACCESSION NUMBER**: 0002011184-25-000013

**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:** De Lisle Partners LLP
- **CENTRAL INDEX KEY:** 0002011184

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** X0
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-24109
- **FILM NUMBER:** 251209641

**BUSINESS ADDRESS:**
- **STREET 1:** 3 FIRS LANE
- **CITY:** POOLE
- **STATE:** X0
- **ZIP:** BH148JG
- **BUSINESS PHONE:** 00441202972288

**MAIL ADDRESS:**
- **STREET 1:** 3 FIRS LANE
- **CITY:** POOLE
- **STATE:** X0
- **ZIP:** BH148JG

### 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:** De Lisle Partners LLP<br>**Address:** 3 FIRS LANE<br>POOLE, X0 BH148JG

**Form 13F File Number:** 028-24109

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:** Isabelle Cordwell-Riant<br>**Title:** Head of Finance and Compliance<br>**Phone:** 00447468338968

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

Isabelle Cordwell-Riant  Poole, X0  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:** 176

**Form 13F Information Table Value Total:** $708698355

      (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 |
| Andersons Inc | COM | 034164103 |  | 2547367 | 69269 | SH |  | SOLE |  | 69269 | 0 | 0 |
| Bar Harbor Bankshares | COM | 066849100 |  | 1428673 | 47686 | SH |  | SOLE |  | 47686 | 0 | 0 |
| Blue Bird Corp | COM | 095306106 |  | 3554866 | 82417 | SH |  | SOLE |  | 82417 | 0 | 0 |
| Brunswick Corp | COM | 117043109 |  | 954621 | 17276 | SH |  | SOLE |  | 17276 | 0 | 0 |
| Build-A-Bear Workshop Inc | COM | 120076104 |  | 38171026 | 740636 | SH |  | SOLE |  | 740636 | 0 | 0 |
| CF Industries Holdings Inc | COM | 125269100 |  | 4507775 | 49000 | SH |  | SOLE |  | 49000 | 0 | 0 |
| CVR Partners LP | COM | 126633205 |  | 4569308 | 51433 | SH |  | SOLE |  | 51433 | 0 | 0 |
| Bunge Ltd | COM SHS | H11356104 |  | 2336042 | 29086 | SH |  | SOLE |  | 29086 | 0 | 0 |
| Capital Bancorp Inc | COM | 139737100 |  | 2546210 | 75893 | SH |  | SOLE |  | 75893 | 0 | 0 |
| Carriage Services Inc | COM | 143905107 |  | 9600444 | 209777 | SH |  | SOLE |  | 209777 | 0 | 0 |
| Central Pacific Financial Corp | COM NEW | 154760409 |  | 1262627 | 45118 | SH |  | SOLE |  | 45118 | 0 | 0 |
| Citizens Financial Group Inc | COM | 174610105 |  | 664822 | 14863 | SH |  | SOLE |  | 14863 | 0 | 0 |
| Citizens Financial Services Inc | COM | 174615104 |  | 999393 | 16936 | SH |  | SOLE |  | 16936 | 0 | 0 |
| Columbia Banking System Inc | COM | 197236102 |  | 238865 | 10221 | SH |  | SOLE |  | 10221 | 0 | 0 |
| Coty Inc | COM CL A | 222070203 |  | 1193765 | 257000 | SH |  | SOLE |  | 257000 | 0 | 0 |
| Crown Crafts Inc | COM | 228309100 |  | 1132999 | 396326 | SH |  | SOLE |  | 396326 | 0 | 0 |
| DXP Enterprises Inc | COM NEW | 233377407 |  | 2289521 | 26154 | SH |  | SOLE |  | 26154 | 0 | 0 |
| Deere  Co | COM | 244199105 |  | 6352110 | 12500 | SH |  | SOLE |  | 12500 | 0 | 0 |
| Denison Mines Corp | COM | 248356107 |  | 3708994 | 2037909 | SH |  | SOLE |  | 2037909 | 0 | 0 |
| Eastern Co | COM | 276317104 |  | 1072402 | 46922 | SH |  | SOLE |  | 46922 | 0 | 0 |
| Epsilon Energy Ltd | COM | 294375209 |  | 1079781 | 146411 | SH |  | SOLE |  | 146411 | 0 | 0 |
| Escalade Inc | COM | 296056104 |  | 1102982 | 78529 | SH |  | SOLE |  | 78529 | 0 | 0 |
| Espey MFG and Electronics Corp | COM | 296650104 |  | 2275546 | 50023 | SH |  | SOLE |  | 50023 | 0 | 0 |
| Everus Construction Group Inc | COM | 300426103 |  | 21939975 | 342430 | SH |  | SOLE |  | 342430 | 0 | 0 |
| FIRST BANCORP N C | COM | 318910106 |  | 255237 | 5789 | SH |  | SOLE |  | 5789 | 0 | 0 |
| First Business Financial Services Inc | COM | 319390100 |  | 4486734 | 88640 | SH |  | SOLE |  | 88640 | 0 | 0 |
| Fortuna Mining Corp | COM NEW | 349942102 |  | 2446357 | 373775 | SH |  | SOLE |  | 373775 | 0 | 0 |
| L.B. Foster Co | COM | 350060109 |  | 889027 | 40675 | SH |  | SOLE |  | 40675 | 0 | 0 |
| Friedman Industries Inc | COM | 358435105 |  | 6976641 | 419816 | SH |  | SOLE |  | 419816 | 0 | 0 |
| Garrett Motion Inc | COM | 366505105 |  | 4381872 | 417520 | SH |  | SOLE |  | 417520 | 0 | 0 |
| Gencor Industries Inc | COM | 368678108 |  | 2116457 | 151222 | SH |  | SOLE |  | 151222 | 0 | 0 |
| German American Bancorp Inc | COM | 373865104 |  | 542574 | 14102 | SH |  | SOLE |  | 14102 | 0 | 0 |
| Graham Corp | COM | 384556106 |  | 4347007 | 87916 | SH |  | SOLE |  | 87916 | 0 | 0 |
| Greenbrier Companies Inc | COM | 393657101 |  | 5793060 | 125854 | SH |  | SOLE |  | 125854 | 0 | 0 |
| Group 1 Automotive Inc | COM | 398905109 |  | 9122328 | 20900 | SH |  | SOLE |  | 20900 | 0 | 0 |
| Gulf Island Fabrication Inc | COM | 402307102 |  | 1562245 | 233869 | SH |  | SOLE |  | 233869 | 0 | 0 |
| Hanmi Financial Corp | COM NEW | 410495204 |  | 2023798 | 81902 | SH |  | SOLE |  | 81902 | 0 | 0 |
| Hawkins Inc | COM | 420261109 |  | 13849085 | 97419 | SH |  | SOLE |  | 97419 | 0 | 0 |
| Hayward Holdings Inc | COM | 421298100 |  | 5484933 | 397603 | SH |  | SOLE |  | 397603 | 0 | 0 |
| Hingham Institution For Savings | COM | 433323102 |  | 6780407 | 27259 | SH |  | SOLE |  | 27259 | 0 | 0 |
| Hyster-Yale Materials Handling Inc | CL A | 449172105 |  | 1485933 | 37335 | SH |  | SOLE |  | 37335 | 0 | 0 |
| Innovex International Inc | COM | 457651107 |  | 3412206 | 218591 | SH |  | SOLE |  | 218591 | 0 | 0 |
| Johnson Outdoors Inc | CL A | 479167108 |  | 3106135 | 102748 | SH |  | SOLE |  | 102748 | 0 | 0 |
| Kewaunee Scientific Corp | COM | 492854104 |  | 2810733 | 47977 | SH |  | SOLE |  | 47977 | 0 | 0 |
| Kingstone Companies Inc | COM | 496719105 |  | 4119775 | 267488 | SH |  | SOLE |  | 267488 | 0 | 0 |
| Vital Energy Inc | COM | 516806205 |  | 386312 | 24002 | SH |  | SOLE |  | 24002 | 0 | 0 |
| Lifeway Foods Inc | COM | 531914109 |  | 1476615 | 59782 | SH |  | SOLE |  | 59782 | 0 | 0 |
| LIMONEIRA COMPANY | COM | 532746104 |  | 159051 | 10163 | SH |  | SOLE |  | 10163 | 0 | 0 |
| MANITOWOC COMPANY INC | COM NEW | 563571405 |  | 180300 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| MarineMax Inc | COM | 567908108 |  | 4159029 | 165549 | SH |  | SOLE |  | 165549 | 0 | 0 |
| Marine Products Corp | COM | 568427108 |  | 3024144 | 355019 | SH |  | SOLE |  | 355019 | 0 | 0 |
| Martin Midstream Partners LP | UNIT L P INT | 573331105 |  | 996239 | 335434 | SH |  | SOLE |  | 335434 | 0 | 0 |
| Matrix Service Co | COM | 576853105 |  | 3213312 | 237935 | SH |  | SOLE |  | 237935 | 0 | 0 |
| Medallion Financial Corp | COM | 583928106 |  | 1181445 | 123757 | SH |  | SOLE |  | 123757 | 0 | 0 |
| Mercantile Bank Corp | COM | 587376104 |  | 3444747 | 74290 | SH |  | SOLE |  | 74290 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 1492230 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 704300 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| Murphy Usa Inc | COM | 626755102 |  | 18792566 | 46261 | SH |  | SOLE |  | 46261 | 0 | 0 |
| NN Inc | COM | 629337106 |  | 857377 | 410228 | SH |  | SOLE |  | 410228 | 0 | 0 |
| Flagstar Financial Inc | COM NEW | 649445400 |  | 988778 | 93237 | SH |  | SOLE |  | 93237 | 0 | 0 |
| Northrim BanCorp Inc | COM | 666762109 |  | 9136104 | 97853 | SH |  | SOLE |  | 97853 | 0 | 0 |
| PACKAGING CORP OF AMERICA | COM | 695156109 |  | 433435 | 2300 | SH |  | SOLE |  | 2300 | 0 | 0 |
| Pan American Silver Corp | COM | 697900108 |  | 2122924 | 74764 | SH |  | SOLE |  | 74764 | 0 | 0 |
| Patrick Industries Inc | COM | 703343103 |  | 5722184 | 61982 | SH |  | SOLE |  | 61982 | 0 | 0 |
| PEOPLES BANCORP OF NC | COM | 710577107 |  | 619150 | 21461 | SH |  | SOLE |  | 21461 | 0 | 0 |
| Plumas Bancorp | COM | 729273102 |  | 7428696 | 166818 | SH |  | SOLE |  | 166818 | 0 | 0 |
| Preferred Bank | COM NEW | 740367404 |  | 4732194 | 54679 | SH |  | SOLE |  | 54679 | 0 | 0 |
| Scotts Miracle-Gro Co | CL A | 810186106 |  | 2965876 | 44975 | SH |  | SOLE |  | 44975 | 0 | 0 |
| Seabridge Gold Inc | COM | 811916105 |  | 580400 | 40000 | SH |  | SOLE |  | 40000 | 0 | 0 |
| SOUTHSTATE CORP | COM | 840441109 |  | 239370 | 2601 | SH |  | SOLE |  | 2601 | 0 | 0 |
| Southern First Bancshares Inc | COM | 842873101 |  | 479707 | 12591 | SH |  | SOLE |  | 12591 | 0 | 0 |
| Sterling Construction Company Inc | COM | 859241101 |  | 16133134 | 69957 | SH |  | SOLE |  | 69957 | 0 | 0 |
| Strattec Security Corp | COM | 863111100 |  | 3023113 | 48842 | SH |  | SOLE |  | 48842 | 0 | 0 |
| SUPERIOR GROUP OF COMPANIES INC | COM | 868358102 |  | 225611 | 21904 | SH |  | SOLE |  | 21904 | 0 | 0 |
| Ascent Industries Co | COM | 871565107 |  | 2497528 | 197824 | SH |  | SOLE |  | 197824 | 0 | 0 |
| Taylor Devices Inc | COM | 877163105 |  | 1881185 | 42876 | SH |  | SOLE |  | 42876 | 0 | 0 |
| Thor Industries Inc | COM | 885160101 |  | 1549205 | 17455 | SH |  | SOLE |  | 17455 | 0 | 0 |
| Timberland Bancorp Inc | COM | 887098101 |  | 1818349 | 58060 | SH |  | SOLE |  | 58060 | 0 | 0 |
| Toll Brothers Inc | COM | 889478103 |  | 10848525 | 95000 | SH |  | SOLE |  | 95000 | 0 | 0 |
| UFP Technologies Inc | COM | 902673102 |  | 19935081 | 81602 | SH |  | SOLE |  | 81602 | 0 | 0 |
| Uranium Energy Corp | COM | 916896103 |  | 1980650 | 291272 | SH |  | SOLE |  | 291272 | 0 | 0 |
| Valmont Industries Inc | COM | 920253101 |  | 7764869 | 23800 | SH |  | SOLE |  | 23800 | 0 | 0 |
| Virginia National Bankshares Corp | COM | 928031103 |  | 1122091 | 30269 | SH |  | SOLE |  | 30269 | 0 | 0 |
| Climb Global Solutions Inc | COM | 946760105 |  | 24417910 | 228088 | SH |  | SOLE |  | 228088 | 0 | 0 |
| Westwood Holdings Group Inc | COM | 961765104 |  | 1137315 | 72921 | SH |  | SOLE |  | 72921 | 0 | 0 |
| Winnebago Industries Inc | COM | 974637100 |  | 2158661 | 74426 | SH |  | SOLE |  | 74426 | 0 | 0 |
| Worthington Enterprises Inc | COM | 981811102 |  | 3118834 | 49019 | SH |  | SOLE |  | 49019 | 0 | 0 |
| Worthington Steel Inc | COM SHS | 982104101 |  | 1468687 | 49194 | SH |  | SOLE |  | 49194 | 0 | 0 |
| Home Bancorp Inc | COM | 43689E107 |  | 1191815 | 22985 | SH |  | SOLE |  | 22985 | 0 | 0 |
| Pennant Group Inc | COM | 70805E109 |  | 13149490 | 440591 | SH |  | SOLE |  | 440591 | 0 | 0 |
| Smurfit Westrock PLC | SHS | G8267P108 |  | 5909495 | 137000 | SH |  | SOLE |  | 137000 | 0 | 0 |
| ACUITY INC | COM | 00508Y102 |  | 8122075 | 27211 | SH |  | SOLE |  | 27211 | 0 | 0 |
| Gates Industrial Corporation PLC | ORD SHS | G39108108 |  | 2794959 | 121388 | SH |  | SOLE |  | 121388 | 0 | 0 |
| TechnipFMC PLC | COM | G87110105 |  | 5821061 | 169094 | SH |  | SOLE |  | 169094 | 0 | 0 |
| Weatherford International PLC | ORD SHS | G48833118 |  | 1760150 | 35000 | SH |  | SOLE |  | 35000 | 0 | 0 |
| Noble Corp (Cayman Island) | ORD SHS A | G65431127 |  | 866755 | 32640 | SH |  | SOLE |  | 32640 | 0 | 0 |
| Alta Equipment Group Inc | COMMON STOCK | 02128L106 |  | 591828 | 93422 | SH |  | SOLE |  | 93422 | 0 | 0 |
| Ameris Bancorp | COM | 03076K108 |  | 2388612 | 36935 | SH |  | SOLE |  | 36935 | 0 | 0 |
| Antero Resources Corp | COM | 03674X106 |  | 1610200 | 40000 | SH |  | SOLE |  | 40000 | 0 | 0 |
| Atlantic Union Bankshares Corp | COM | 04911A107 |  | 949082 | 30338 | SH |  | SOLE |  | 30338 | 0 | 0 |
| BRP Inc | COM SUN VTG | 05577W200 |  | 1116767 | 23019 | SH |  | SOLE |  | 23019 | 0 | 0 |
| Bank Ozk | COM | 06417N103 |  | 2541030 | 54000 | SH |  | SOLE |  | 54000 | 0 | 0 |
| BARINGS BDC INC | COM | 06759L103 |  | 139888 | 15305 | SH |  | SOLE |  | 15305 | 0 | 0 |
| Barrick Mining Corporation | COM SHS | 06849F108 |  | 2248020 | 108000 | SH |  | SOLE |  | 108000 | 0 | 0 |
| Bluelinx Holdings Inc | COM NEW | 09624H208 |  | 3857396 | 51873 | SH |  | SOLE |  | 51873 | 0 | 0 |
| B2Gold Corp | COM | 11777Q209 |  | 1446166 | 400600 | SH |  | SOLE |  | 400600 | 0 | 0 |
| Builders FirstSource Inc | COM | 12008R107 |  | 9858499 | 84501 | SH |  | SOLE |  | 84501 | 0 | 0 |
| CB Financial Services Inc | COM | 12479G101 |  | 970087 | 34074 | SH |  | SOLE |  | 34074 | 0 | 0 |
| CF Bankshares Inc | COM | 12520L109 |  | 1236467 | 51498 | SH |  | SOLE |  | 51498 | 0 | 0 |
| Cameco Corp | COM | 13321L108 |  | 36759013 | 495361 | SH |  | SOLE |  | 495361 | 0 | 0 |
| CARETRUST REIT INC | COM | 14174T107 |  | 950834 | 31073 | SH |  | SOLE |  | 31073 | 0 | 0 |
| Cenovus Energy Inc | COM | 15135U109 |  | 3673350 | 270000 | SH |  | SOLE |  | 270000 | 0 | 0 |
| Colony Bankcorp Inc | COM | 19623P101 |  | 1122414 | 68087 | SH |  | SOLE |  | 68087 | 0 | 0 |
| Customers Bancorp Inc | COM | 23204G100 |  | 2468045 | 42020 | SH |  | SOLE |  | 42020 | 0 | 0 |
| DELL TECHNOLOGIES INC CL C | CL C | 24703L202 |  | 711080 | 5800 | SH |  | SOLE |  | 5800 | 0 | 0 |
| Dream Finders Homes Inc | COM CL A | 26154D100 |  | 3783620 | 150502 | SH |  | SOLE |  | 150502 | 0 | 0 |
| East West Bancorp Inc | COM | 27579R104 |  | 3332835 | 33000 | SH |  | SOLE |  | 33000 | 0 | 0 |
| Ensign Group Inc | COM | 29358P101 |  | 5429565 | 35189 | SH |  | SOLE |  | 35189 | 0 | 0 |
| FS Bancorp Inc | COM | 30263Y104 |  | 15192739 | 385451 | SH |  | SOLE |  | 385451 | 0 | 0 |
| First Citizens BancShares Inc (Delaware) | CL A | 31946M103 |  | 1959305 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| First National Corp | COM | 32106V107 |  | 2689060 | 138113 | SH |  | SOLE |  | 138113 | 0 | 0 |
| First United Corp | COM | 33741H107 |  | 4670361 | 150390 | SH |  | SOLE |  | 150390 | 0 | 0 |
| Forum Energy Technologies Inc | COM | 34984V209 |  | 4235133 | 217242 | SH |  | SOLE |  | 217242 | 0 | 0 |
| Freeport-McMoRan Inc | CL B | 35671D857 |  | 5176850 | 119000 | SH |  | SOLE |  | 119000 | 0 | 0 |
| Galiano Gold Inc | COM | 36352H100 |  | 1039655 | 815416 | SH |  | SOLE |  | 815416 | 0 | 0 |
| Geospace Technologies Corp | COM | 37364X109 |  | 2061104 | 144234 | SH |  | SOLE |  | 144234 | 0 | 0 |
| IES Holdings Inc | COM | 44951W106 |  | 1778490 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| Jacobs Solutions Inc | COM | 46982L108 |  | 2431363 | 18500 | SH |  | SOLE |  | 18500 | 0 | 0 |
| Jewett-Cameron Trading Company Ltd | COM NEW | 47733C207 |  | 121537 | 31609 | SH |  | SOLE |  | 31609 | 0 | 0 |
| Karat Packaging Inc | COM | 48563L101 |  | 6443501 | 229143 | SH |  | SOLE |  | 229143 | 0 | 0 |
| LCI Industries | COM | 50189K103 |  | 7359898 | 80652 | SH |  | SOLE |  | 80652 | 0 | 0 |
| Landmark Bancorp Inc | COM | 51504L107 |  | 1274274 | 48322 | SH |  | SOLE |  | 48322 | 0 | 0 |
| M/I Homes Inc | COM | 55305B101 |  | 8363292 | 74589 | SH |  | SOLE |  | 74589 | 0 | 0 |
| MPLX LP | COM UNIT REP LTD | 55336V100 |  | 257525 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| Malibu Boats Inc | COM CL A | 56117J100 |  | 3382652 | 107869 | SH |  | SOLE |  | 107869 | 0 | 0 |
| MasterBrand Inc | COMMON STOCK | 57638P104 |  | 12237719 | 1119149 | SH |  | SOLE |  | 1119149 | 0 | 0 |
| Metrocity Bankshares Inc | COM | 59165J105 |  | 2263748 | 79249 | SH |  | SOLE |  | 79249 | 0 | 0 |
| Mid Penn Bancorp Inc | COM | 59540G107 |  | 2925916 | 103824 | SH |  | SOLE |  | 103824 | 0 | 0 |
| Mosaic Co | COM | 61945C103 |  | 4776514 | 130989 | SH |  | SOLE |  | 130989 | 0 | 0 |
| Mr. Cooper Group Inc | COM | 62482R107 |  | 16865815 | 113000 | SH |  | SOLE |  | 113000 | 0 | 0 |
| NVR INC | COM | 62944T105 |  | 369283 | 50 | SH |  | SOLE |  | 50 | 0 | 0 |
| Nov Inc | COM | 62955J103 |  | 870450 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 4017390 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| Nexgen Energy Ltd | COM | 65340P106 |  | 8388600 | 1208732 | SH |  | SOLE |  | 1208732 | 0 | 0 |
| Nutrien Ltd | COM | 67077M108 |  | 2445720 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| OFG Bancorp | COM | 67103X102 |  | 2141250 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| OneWater Marine Inc | CL A COM | 68280L101 |  | 621235 | 46443 | SH |  | SOLE |  | 46443 | 0 | 0 |
| Orion Group Holdings Inc | COM | 68628V308 |  | 3606189 | 397809 | SH |  | SOLE |  | 397809 | 0 | 0 |
| PBF Energy Inc | CL A | 69318G106 |  | 801605 | 37000 | SH |  | SOLE |  | 37000 | 0 | 0 |
| Permian Resources Corp | CLASS A COM | 71424F105 |  | 2434553 | 178814 | SH |  | SOLE |  | 178814 | 0 | 0 |
| PINNACLE FINANCIAL PARTNERS INC | COM | 72346Q104 |  | 648548 | 5874 | SH |  | SOLE |  | 5874 | 0 | 0 |
| PRIMIS FINL CORP | COM | 74167B109 |  | 119524 | 11016 | SH |  | SOLE |  | 11016 | 0 | 0 |
| Proficient Auto Logistics Inc | COM | 74317M104 |  | 4164548 | 572909 | SH |  | SOLE |  | 572909 | 0 | 0 |
| Ring Energy Inc | COM | 76680V108 |  | 461910 | 585957 | SH |  | SOLE |  | 585957 | 0 | 0 |
| SLM Corp | COM | 78442P106 |  | 4328940 | 132000 | SH |  | SOLE |  | 132000 | 0 | 0 |
| SM Energy Co | COM | 78454L100 |  | 1235750 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| Six Flags Entertainment Corp | COM | 83001C108 |  | 2252739 | 74064 | SH |  | SOLE |  | 74064 | 0 | 0 |
| Talen Energy Corp | COM | 87422Q109 |  | 2182163 | 7500 | SH |  | SOLE |  | 7500 | 0 | 0 |
| SOMNIGROUP INTERNATIONAL INC | COM | 88023U101 |  | 544400 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| Tidewater Inc | COM | 88642R109 |  | 5710267 | 123773 | SH |  | SOLE |  | 123773 | 0 | 0 |
| TORTOISE ENERGY INFRASTRUCTURE CORP | COM | 89147L886 |  | 506534 | 11541 | SH |  | SOLE |  | 11541 | 0 | 0 |
| Towne Bank | COM | 89214P109 |  | 3985645 | 116625 | SH |  | SOLE |  | 116625 | 0 | 0 |
| Ufp Industries Inc | COM | 90278Q108 |  | 6762526 | 68054 | SH |  | SOLE |  | 68054 | 0 | 0 |
| Ulta Beauty Inc | COM | 90384S303 |  | 5614740 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| Vail Resorts Inc | COM | 91879Q109 |  | 1583526 | 10073 | SH |  | SOLE |  | 10073 | 0 | 0 |
| V2X Inc | COM | 92242T101 |  | 436995 | 9000 | SH |  | SOLE |  | 9000 | 0 | 0 |
| Vital Farms Inc | COM | 92847W103 |  | 5859589 | 152213 | SH |  | SOLE |  | 152213 | 0 | 0 |
| West Bancorporation Inc | CAP STK | 95123P106 |  | 628696 | 32156 | SH |  | SOLE |  | 32156 | 0 | 0 |
| Xpel Inc | COM | 98379L100 |  | 897500 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| Assured Guaranty Ltd | COM | G0585R106 |  | 4327467 | 49721 | SH |  | SOLE |  | 49721 | 0 | 0 |
| Borr Drilling Ltd | SHS | G1466R173 |  | 3287599 | 1801424 | SH |  | SOLE |  | 1801424 | 0 | 0 |
| FLEX LNG Ltd | SHS | G35947202 |  | 911755 | 41500 | SH |  | SOLE |  | 41500 | 0 | 0 |
| Tsakos Energy Navigation Ltd | SHS | G9108L173 |  | 313199 | 16338 | SH |  | SOLE |  | 16338 | 0 | 0 |
| Golar LNG Ltd | SHS | G9456A100 |  | 10563268 | 256390 | SH |  | SOLE |  | 256390 | 0 | 0 |
| Valaris Ltd | SHS | G9460G101 |  | 2455022 | 58321 | SH |  | SOLE |  | 58321 | 0 | 0 |
| Scorpio Tankers Inc | SHS | Y7542C130 |  | 792290 | 20258 | SH |  | SOLE |  | 20258 | 0 | 0 |

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