# EDGAR Filing Document

**Accession Number:** 0001008894
**File Stem:** 0001172661-25-004307
**Filing Date:** 2025-10
**Character Count:** 22703
**Document Hash:** dafc69d8bd87134ac786a8df3059b3f5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-25-004307.hdr.sgml**: 20251017

**ACCESSION NUMBER**: 0001172661-25-004307

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251017

**DATE AS OF CHANGE**: 20251017

**EFFECTIVENESS DATE**: 20251017

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DEPRINCE RACE & ZOLLO INC
- **CENTRAL INDEX KEY:** 0001008894

**ORGANIZATION NAME:**
- **EIN:** 593299598
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-05268
- **FILM NUMBER:** 251399205

**BUSINESS ADDRESS:**
- **STREET 1:** 250 PARK AVENUE SOUTH
- **STREET 2:** SUITE 250
- **CITY:** WINTER PARK
- **STATE:** FL
- **ZIP:** 32789
- **BUSINESS PHONE:** 4074209903

**MAIL ADDRESS:**
- **STREET 1:** 250 PARK AVENUE SOUTH
- **STREET 2:** SUITE 250
- **CITY:** WINTER PARK
- **STATE:** FL
- **ZIP:** 32789

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**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:** DEPRINCE RACE  ZOLLO INC<br>**Address:** 250 Park Avenue South<br>Suite 250<br>Winter Park, FL 32789

**Form 13F File Number:** 028-05268

**CRD Number (if applicable):** 000112099

**SEC File Number (if applicable):** 801-48779

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:** Adelbert R. Sanchez<br>**Title:** Chief Compliance Officer<br>**Phone:** 407-650-1655

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

/s/ Adelbert R. Sanchez  Winter Park, FL  10-17-2025<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:** 183

**Form 13F Information Table Value Total:** $4984997602

      (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 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 21622135 | 87681 | SH |  | SOLE |  | 78641 | 0 | 9040 |
| ADVANSIX INC | COM | 00773T101 |  | 4944943 | 255157 | SH |  | SOLE |  | 201258 | 0 | 53899 |
| ALLSTATE CORP | COM | 020002101 |  | 41490343 | 193293 | SH |  | SOLE |  | 142449 | 0 | 50844 |
| AMERICAN EAGLE OUTFITTERS IN | COM | 02553E106 |  | 59735784 | 3491279 | SH |  | SOLE |  | 3171299 | 0 | 319980 |
| ANALOG DEVICES INC | COM | 032654105 |  | 20515213 | 83497 | SH |  | SOLE |  | 63443 | 0 | 20054 |
| APOGEE ENTERPRISES INC | COM | 037598109 |  | 21803648 | 500428 | SH |  | SOLE |  | 481811 | 0 | 18617 |
| APPLIED MATLS INC | COM | 038222105 |  | 20669731 | 100956 | SH |  | SOLE |  | 77326 | 0 | 23630 |
| ARTESIAN RES CORP | CL A | 043113208 |  | 1826069 | 56023 | SH |  | SOLE |  | 42594 | 0 | 13429 |
| ASSURANT INC | COM | 04621X108 |  | 22948987 | 105951 | SH |  | SOLE |  | 81131 | 0 | 24820 |
| AVIENT CORPORATION | COM | 05368V106 |  | 29347774 | 890676 | SH |  | SOLE |  | 798732 | 0 | 91944 |
| BALL CORP | COM | 058498106 |  | 19415734 | 385080 | SH |  | SOLE |  | 200530 | 0 | 184550 |
| BANNER CORP | COM NEW | 06652V208 |  | 16499516 | 251901 | SH |  | SOLE |  | 251281 | 0 | 620 |
| BATH  BODY WORKS INC | COM | 070830104 |  | 15768314 | 612124 | SH |  | SOLE |  | 468754 | 0 | 143370 |
| BAXTER INTL INC | COM | 071813109 |  | 30570751 | 1342589 | SH |  | SOLE |  | 1028485 | 0 | 314104 |
| BORGWARNER INC | COM | 099724106 |  | 61621238 | 1401757 | SH |  | SOLE |  | 1272224 | 0 | 129533 |
| BRUNSWICK CORP | COM | 117043109 |  | 117123642 | 1852050 | SH |  | SOLE |  | 1626094 | 0 | 225956 |
| CADRE HLDGS INC | COM | 12763L105 |  | 3588386 | 98285 | SH |  | SOLE |  | 70258 | 0 | 28027 |
| CALAVO GROWERS INC | COM | 128246105 |  | 9507713 | 369375 | SH |  | SOLE |  | 221185 | 0 | 148190 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 21253961 | 99981 | SH |  | SOLE |  | 76551 | 0 | 23430 |
| CARLYLE GROUP INC | COM | 14316J108 |  | 20914463 | 333564 | SH |  | SOLE |  | 255563 | 0 | 78001 |
| CARRIER GLOBAL CORPORATION | COM | 14448C104 |  | 20678170 | 346368 | SH |  | SOLE |  | 265350 | 0 | 81018 |
| CEMEX SAB DE CV | SPON ADR NEW | 151290889 |  | 8507156 | 946291 | SH |  | SOLE |  | 946291 | 0 | 0 |
| CENTURY CMNTYS INC | COM | 156504300 |  | 1749012 | 27600 | SH |  | SOLE |  | 18606 | 0 | 8994 |
| CHEVRON CORP NEW | COM | 166764100 |  | 29862267 | 192300 | SH |  | SOLE |  | 142351 | 0 | 49949 |
| CINCINNATI FINL CORP | COM | 172062101 |  | 15689370 | 99237 | SH |  | SOLE |  | 75495 | 0 | 23742 |
| CITIGROUP INC | COM NEW | 172967424 |  | 69305520 | 682813 | SH |  | SOLE |  | 503037 | 0 | 179776 |
| CLARUS CORP NEW | COM | 18270P109 |  | 4612307 | 1317802 | SH |  | SOLE |  | 1105084 | 0 | 212718 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 29441074 | 937017 | SH |  | SOLE |  | 707300 | 0 | 229717 |
| COMMUNITY FINANCIAL SYSTEM I | COM | 203607106 |  | 34335596 | 585532 | SH |  | SOLE |  | 584150 | 0 | 1382 |
| COMMUNITY HEALTHCARE TR INC | COM | 20369C106 |  | 6624074 | 432946 | SH |  | SOLE |  | 353445 | 0 | 79501 |
| CONCENTRIX CORP | COM | 20602D101 |  | 31767814 | 688360 | SH |  | SOLE |  | 621056 | 0 | 67304 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 27545081 | 291205 | SH |  | SOLE |  | 211970 | 0 | 79235 |
| CREDICORP LTD | COM | G2519Y108 |  | 9682473 | 36362 | SH |  | SOLE |  | 36362 | 0 | 0 |
| CROWN HLDGS INC | COM | 228368106 |  | 25852023 | 267647 | SH |  | SOLE |  | 205043 | 0 | 62604 |
| CULLEN FROST BANKERS INC | COM | 229899109 |  | 26124254 | 206076 | SH |  | SOLE |  | 205595 | 0 | 481 |
| DELUXE CORP | COM | 248019101 |  | 40113553 | 2071981 | SH |  | SOLE |  | 1825657 | 0 | 246324 |
| DTE ENERGY CO | COM | 233331107 |  | 16845020 | 119105 | SH |  | SOLE |  | 90061 | 0 | 29044 |
| EASTMAN CHEM CO | COM | 277432100 |  | 28955398 | 459245 | SH |  | SOLE |  | 351750 | 0 | 107495 |
| ELEVANCE HEALTH INC FORMERLY | COM | 036752103 |  | 20686142 | 64020 | SH |  | SOLE |  | 48950 | 0 | 15070 |
| EMERSON ELEC CO | COM | 291011104 |  | 45369915 | 345860 | SH |  | SOLE |  | 264866 | 0 | 80994 |
| ENERSYS | COM | 29275Y102 |  | 117802030 | 1042865 | SH |  | SOLE |  | 934027 | 0 | 108838 |
| ESSENTIAL UTILS INC | COM | 29670G102 |  | 14747279 | 369606 | SH |  | SOLE |  | 192507 | 0 | 177099 |
| EVEREST GROUP LTD | COM | G3223R108 |  | 32337086 | 92331 | SH |  | SOLE |  | 74591 | 0 | 17740 |
| EXPAND ENERGY CORPORATION | COM | 165167735 |  | 39813971 | 374755 | SH |  | SOLE |  | 286934 | 0 | 87821 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 33333298 | 295639 | SH |  | SOLE |  | 214045 | 0 | 81594 |
| FB FINL CORP | COM | 30257X104 |  | 48673673 | 873227 | SH |  | SOLE |  | 796268 | 0 | 76959 |
| FERROGLOBE PLC | SHS | G33856108 |  | 3331355 | 732166 | SH |  | SOLE |  | 573902 | 0 | 158264 |
| FIFTH THIRD BANCORP | COM | 316773100 |  | 36552161 | 820475 | SH |  | SOLE |  | 624320 | 0 | 196155 |
| FIRST AMERN FINL CORP | COM | 31847R102 |  | 18997245 | 295723 | SH |  | SOLE |  | 222959 | 0 | 72764 |
| FIRST MID ILL BANCSHARES INC | COM | 320866106 |  | 3793531 | 100146 | SH |  | SOLE |  | 78285 | 0 | 21861 |
| FIVE STAR BANCORP | COM | 33830T103 |  | 2210208 | 68640 | SH |  | SOLE |  | 53481 | 0 | 15159 |
| FLOWSERVE CORP | COM | 34354P105 |  | 78498515 | 1477202 | SH |  | SOLE |  | 1226505 | 0 | 250697 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 37685596 | 960877 | SH |  | SOLE |  | 732837 | 0 | 228040 |
| FULLER H B CO | COM | 359694106 |  | 32952388 | 555877 | SH |  | SOLE |  | 520894 | 0 | 34983 |
| GENERAL MTRS CO | COM | 37045V100 |  | 21319868 | 349678 | SH |  | SOLE |  | 260871 | 0 | 88807 |
| GENTEX CORP | COM | 371901109 |  | 26283031 | 928729 | SH |  | SOLE |  | 820116 | 0 | 108613 |
| GERMAN AMERN BANCORP INC | COM | 373865104 |  | 6348152 | 161654 | SH |  | SOLE |  | 131690 | 0 | 29964 |
| GLACIER BANCORP INC NEW | COM | 37637Q105 |  | 61910236 | 1272041 | SH |  | SOLE |  | 1185462 | 0 | 86579 |
| GOLDEN ENTMT INC | COM | 381013101 |  | 19795269 | 839494 | SH |  | SOLE |  | 815419 | 0 | 24075 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 30321027 | 38075 | SH |  | SOLE |  | 29156 | 0 | 8919 |
| GRAPHIC PACKAGING HLDG CO | COM | 388689101 |  | 18005613 | 920062 | SH |  | SOLE |  | 704764 | 0 | 215298 |
| GREIF INC | CL A | 397624107 |  | 45293838 | 757929 | SH |  | SOLE |  | 666627 | 0 | 91302 |
| GRUPO CIBEST SA | SPON ADS | 40090E106 |  | 3136033 | 60378 | SH |  | SOLE |  | 60378 | 0 | 0 |
| GUARANTY BANCSHARES INC TEX | COM | 400764106 |  | 3386175 | 69460 | SH |  | SOLE |  | 57081 | 0 | 12379 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 |  | 35505217 | 266176 | SH |  | SOLE |  | 202550 | 0 | 63626 |
| HAVERTY FURNITURE COS INC | COM | 419596101 |  | 4610980 | 210259 | SH |  | SOLE |  | 178124 | 0 | 32135 |
| HDFC BANK LTD | SPONSORED ADS | 40415F101 |  | 11288753 | 330467 | SH |  | SOLE |  | 330467 | 0 | 0 |
| HELIOS TECHNOLOGIES INC | COM | 42328H109 |  | 44115429 | 846258 | SH |  | SOLE |  | 742140 | 0 | 104118 |
| HERITAGE FINL CORP WASH | COM | 42722X106 |  | 1705734 | 70514 | SH |  | SOLE |  | 47526 | 0 | 22988 |
| HF SINCLAIR CORP | COM | 403949100 |  | 229616 | 4387 | SH |  | SOLE |  | 4387 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 25649215 | 121849 | SH |  | SOLE |  | 92700 | 0 | 29149 |
| HORIZON BANCORP INC | COM | 440407104 |  | 1780104 | 111187 | SH |  | SOLE |  | 76184 | 0 | 35003 |
| HOST HOTELS  RESORTS INC | COM | 44107P104 |  | 20126372 | 1182513 | SH |  | SOLE |  | 886888 | 0 | 295625 |
| HUB GROUP INC | CL A | 443320106 |  | 34321768 | 996567 | SH |  | SOLE |  | 918881 | 0 | 77686 |
| HUNTSMAN CORP | COM | 447011107 |  | 20970949 | 2335295 | SH |  | SOLE |  | 1986268 | 0 | 349027 |
| ICICI BANK LIMITED | ADR | 45104G104 |  | 10260939 | 339429 | SH |  | SOLE |  | 339429 | 0 | 0 |
| IDACORP INC | COM | 451107106 |  | 27890786 | 211054 | SH |  | SOLE |  | 188886 | 0 | 22168 |
| IDEX CORP | COM | 45167R104 |  | 56021992 | 344200 | SH |  | SOLE |  | 237799 | 0 | 106401 |
| INDEPENDENT BK CORP MASS | COM | 453836108 |  | 71420791 | 1032540 | SH |  | SOLE |  | 924038 | 0 | 108502 |
| INFOSYS LTD | SPONSORED ADR | 456788108 |  | 6344405 | 389945 | SH |  | SOLE |  | 389945 | 0 | 0 |
| INTERNATIONAL FLAVORS | COM | 459506101 |  | 31005945 | 503834 | SH |  | SOLE |  | 385725 | 0 | 118109 |
| ITAU UNIBANCO HLDG S A | SPON ADR REP PFD | 465562106 |  | 9276431 | 1263819 | SH |  | SOLE |  | 1263819 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 47794045 | 257761 | SH |  | SOLE |  | 194936 | 0 | 62825 |
| JOHNSON CTLS INTL PLC | SHS | G51502105 |  | 30374017 | 276253 | SH |  | SOLE |  | 247691 | 0 | 28562 |
| JOHNSON OUTDOORS INC | CL A | 479167108 |  | 13318037 | 329736 | SH |  | SOLE |  | 221889 | 0 | 107847 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 71617750 | 227048 | SH |  | SOLE |  | 173936 | 0 | 53112 |
| KAISER ALUMINUM CORP | COM PAR $0.01 | 483007704 |  | 2464259 | 31937 | SH |  | SOLE |  | 23536 | 0 | 8401 |
| KB HOME | COM | 48666K109 |  | 59301216 | 931823 | SH |  | SOLE |  | 786261 | 0 | 145562 |
| KENNAMETAL INC | COM | 489170100 |  | 27117159 | 1295612 | SH |  | SOLE |  | 1142126 | 0 | 153486 |
| KFORCE INC | COM | 493732101 |  | 11465641 | 382443 | SH |  | SOLE |  | 278633 | 0 | 103810 |
| KNIGHT-SWIFT TRANSN HLDGS IN | CL A | 499049104 |  | 27730331 | 701856 | SH |  | SOLE |  | 537576 | 0 | 164280 |
| KODIAK GAS SVCS INC | COM | 50012A108 |  | 28384863 | 767781 | SH |  | SOLE |  | 695495 | 0 | 72286 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 36596364 | 119827 | SH |  | SOLE |  | 92346 | 0 | 27481 |
| LAMB WESTON HLDGS INC | COM | 513272104 |  | 43260307 | 744840 | SH |  | SOLE |  | 487603 | 0 | 257237 |
| LAS VEGAS SANDS CORP | COM | 517834107 |  | 25243216 | 469292 | SH |  | SOLE |  | 362227 | 0 | 107065 |
| LINCOLN ELEC HLDGS INC | COM | 533900106 |  | 11573593 | 49076 | SH |  | SOLE |  | 25555 | 0 | 23521 |
| LKQ CORP | COM | 501889208 |  | 8939546 | 292716 | SH |  | SOLE |  | 152471 | 0 | 140245 |
| MARCUS  MILLICHAP INC | COM | 566324109 |  | 6842601 | 233138 | SH |  | SOLE |  | 189073 | 0 | 44065 |
| MARINE PRODS CORP | COM | 568427108 |  | 2780505 | 313473 | SH |  | SOLE |  | 244566 | 0 | 68907 |
| MARRIOTT VACATIONS WORLDWIDE | COM | 57164Y107 |  | 28596771 | 429639 | SH |  | SOLE |  | 428624 | 0 | 1015 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 19276949 | 95653 | SH |  | SOLE |  | 73182 | 0 | 22471 |
| MARTEN TRANS LTD | COM | 573075108 |  | 5025327 | 471419 | SH |  | SOLE |  | 371577 | 0 | 99842 |
| MATIV HOLDINGS INC | COM | 808541106 |  | 4484913 | 396544 | SH |  | SOLE |  | 318345 | 0 | 78199 |
| MAXIMUS INC | COM | 577933104 |  | 22266412 | 243695 | SH |  | SOLE |  | 243083 | 0 | 612 |
| MERCK  CO INC | COM | 58933Y105 |  | 20204805 | 240734 | SH |  | SOLE |  | 183170 | 0 | 57564 |
| MID PENN BANCORP INC | COM | 59540G107 |  | 3427979 | 119692 | SH |  | SOLE |  | 89883 | 0 | 29809 |
| MILLERKNOLL INC | COM | 600544100 |  | 35291175 | 1989356 | SH |  | SOLE |  | 1909591 | 0 | 79765 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 29302053 | 469058 | SH |  | SOLE |  | 359239 | 0 | 109819 |
| MOVADO GROUP INC | COM | 624580106 |  | 3841633 | 202511 | SH |  | SOLE |  | 150360 | 0 | 52151 |
| MSC INDL DIRECT INC | CL A | 553530106 |  | 50255275 | 545423 | SH |  | SOLE |  | 490723 | 0 | 54700 |
| MYERS INDS INC | COM | 628464109 |  | 2971124 | 175391 | SH |  | SOLE |  | 119472 | 0 | 55919 |
| NAPCO SEC TECHNOLOGIES INC | COM | 630402105 |  | 2479547 | 57731 | SH |  | SOLE |  | 38864 | 0 | 18867 |
| NATIONAL BK HLDGS CORP | CL A | 633707104 |  | 14240000 | 368530 | SH |  | SOLE |  | 312429 | 0 | 56101 |
| NBT BANCORP INC | COM | 628778102 |  | 25508720 | 610841 | SH |  | SOLE |  | 596250 | 0 | 14591 |
| NETAPP INC | COM | 64110D104 |  | 11254766 | 95009 | SH |  | SOLE |  | 49445 | 0 | 45564 |
| NETSTREIT CORP | COM | 64119V303 |  | 26330703 | 1457957 | SH |  | SOLE |  | 1405974 | 0 | 51983 |
| NEWELL BRANDS INC | COM | 651229106 |  | 97835013 | 18670804 | SH |  | SOLE |  | 15918989 | 0 | 2751815 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 19209035 | 254458 | SH |  | SOLE |  | 192246 | 0 | 62212 |
| NNN REIT INC | COM | 637417106 |  | 35469111 | 833195 | SH |  | SOLE |  | 734140 | 0 | 99055 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 |  | 34111448 | 149789 | SH |  | SOLE |  | 134313 | 0 | 15476 |
| OMNICOM GROUP INC | COM | 681919106 |  | 31873664 | 390944 | SH |  | SOLE |  | 299461 | 0 | 91483 |
| ONESPAN INC | COM | 68287N100 |  | 3028968 | 190621 | SH |  | SOLE |  | 144276 | 0 | 46345 |
| ORIGIN BANCORP INC | COM | 68621T102 |  | 2491066 | 72163 | SH |  | SOLE |  | 54191 | 0 | 17972 |
| PAPA JOHNS INTL INC | COM | 698813102 |  | 77771110 | 1615184 | SH |  | SOLE |  | 1412773 | 0 | 202411 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 39708865 | 52376 | SH |  | SOLE |  | 40085 | 0 | 12291 |
| PATTERSON-UTI ENERGY INC | COM | 703481101 |  | 30230553 | 5836014 | SH |  | SOLE |  | 5005055 | 0 | 830959 |
| PERRIGO CO PLC | SHS | G97822103 |  | 78725229 | 3535035 | SH |  | SOLE |  | 3113175 | 0 | 421860 |
| PETROLEO BRASILEIRO SA PETRO | SP ADR NON VTG | 71654V101 |  | 2474742 | 209369 | SH |  | SOLE |  | 209369 | 0 | 0 |
| POOL CORP | COM | 73278L105 |  | 12625741 | 40719 | SH |  | SOLE |  | 21183 | 0 | 19536 |
| POTLATCHDELTIC CORPORATION | COM | 737630103 |  | 94510986 | 2319288 | SH |  | SOLE |  | 2040927 | 0 | 278361 |
| QUAKER HOUGHTON | COM | 747316107 |  | 33464896 | 254003 | SH |  | SOLE |  | 223350 | 0 | 30653 |
| QUALCOMM INC | COM | 747525103 |  | 24809599 | 149132 | SH |  | SOLE |  | 113479 | 0 | 35653 |
| QUANEX BLDG PRODS CORP | COM | 747619104 |  | 24676208 | 1735317 | SH |  | SOLE |  | 1656369 | 0 | 78948 |
| RENASANT CORP | COM | 75970E107 |  | 38382385 | 1040455 | SH |  | SOLE |  | 1038018 | 0 | 2437 |
| RESOURCES CONNECTION INC | COM | 76122Q105 |  | 3723789 | 737384 | SH |  | SOLE |  | 587889 | 0 | 149495 |
| REXFORD INDL RLTY INC | COM | 76169C100 |  | 22803635 | 554698 | SH |  | SOLE |  | 417008 | 0 | 137690 |
| ROBERT HALF INC. | COM | 770323103 |  | 58917345 | 1733883 | SH |  | SOLE |  | 1554174 | 0 | 179709 |
| ROCKY BRANDS INC | COM | 774515100 |  | 3242999 | 108862 | SH |  | SOLE |  | 80597 | 0 | 28265 |
| RTX CORPORATION | COM | 75513E101 |  | 38722003 | 231411 | SH |  | SOLE |  | 178351 | 0 | 53060 |
| SANDISK CORP | COM | 80004C200 |  | 39480039 | 351872 | SH |  | SOLE |  | 269573 | 0 | 82299 |
| SCHNEIDER NATIONAL INC | CL B | 80689H102 |  | 33354000 | 1576276 | SH |  | SOLE |  | 1358869 | 0 | 217407 |
| SCOTTS MIRACLE-GRO CO | CL A | 810186106 |  | 41118982 | 722019 | SH |  | SOLE |  | 601352 | 0 | 120667 |
| SEACOAST BKG CORP FLA | COM NEW | 811707801 |  | 65371034 | 2148243 | SH |  | SOLE |  | 1922031 | 0 | 226212 |
| SELECT WATER SOLUTIONS INC | CL A COM | 81617J301 |  | 40449516 | 3783865 | SH |  | SOLE |  | 3266973 | 0 | 516892 |
| SERVISFIRST BANCSHARES INC | COM | 81768T108 |  | 41408768 | 514203 | SH |  | SOLE |  | 512994 | 0 | 1209 |
| SMARTFINANCIAL INC | COM NEW | 83190L208 |  | 4133961 | 115700 | SH |  | SOLE |  | 92923 | 0 | 22777 |
| SMITH  NEPHEW PLC | SPDN ADR NEW | 83175M205 |  | 12334354 | 339883 | SH |  | SOLE |  | 176969 | 0 | 162914 |
| SONOCO PRODS CO | COM | 835495102 |  | 50776523 | 1178383 | SH |  | SOLE |  | 966627 | 0 | 211756 |
| SOUTH PLAINS FINANCIAL INC | COM | 83946P107 |  | 3092580 | 80015 | SH |  | SOLE |  | 60315 | 0 | 19700 |
| SOUTHERN COPPER CORP | COM | 84265V105 |  | 10858807 | 89476 | SH |  | SOLE |  | 89476 | 0 | 0 |
| SOUTHSTATE BK CORP | COM | 84472E102 |  | 14601122 | 147680 | SH |  | SOLE |  | 76855 | 0 | 70825 |
| STEPAN CO | COM | 858586100 |  | 33161994 | 695220 | SH |  | SOLE |  | 602052 | 0 | 93168 |
| STOCK YDS BANCORP INC | COM | 861025104 |  | 3227939 | 46120 | SH |  | SOLE |  | 38385 | 0 | 7735 |
| STURM RUGER  CO INC | COM | 864159108 |  | 1700416 | 39117 | SH |  | SOLE |  | 39117 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 46883295 | 167866 | SH |  | SOLE |  | 167866 | 0 | 0 |
| TARGA RES CORP | COM | 87612G101 |  | 18498594 | 110413 | SH |  | SOLE |  | 84583 | 0 | 25830 |
| TENNANT CO | COM | 880345103 |  | 10960528 | 135215 | SH |  | SOLE |  | 82094 | 0 | 53121 |
| TERNIUM SA | SPONSORED ADS | 880890108 |  | 3508459 | 101021 | SH |  | SOLE |  | 101021 | 0 | 0 |
| THOR INDS INC | COM | 885160101 |  | 50498067 | 487010 | SH |  | SOLE |  | 433413 | 0 | 53597 |
| TIMKEN CO | COM | 887389104 |  | 22624218 | 300934 | SH |  | SOLE |  | 268880 | 0 | 32054 |
| TORO CO | COM | 891092108 |  | 34459545 | 452225 | SH |  | SOLE |  | 368857 | 0 | 83368 |
| TOWNEBANK PORTSMOUTH VA | COM | 89214P109 |  | 4884637 | 141297 | SH |  | SOLE |  | 116762 | 0 | 24535 |
| TRICO BANCSHARES | COM | 896095106 |  | 3358773 | 75631 | SH |  | SOLE |  | 59746 | 0 | 15885 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 30016003 | 656518 | SH |  | SOLE |  | 499529 | 0 | 156989 |
| UFP INDUSTRIES INC | COM | 90278Q108 |  | 41961864 | 448838 | SH |  | SOLE |  | 396133 | 0 | 52705 |
| UMH PPTYS INC | COM | 903002103 |  | 2861655 | 192704 | SH |  | SOLE |  | 153883 | 0 | 38821 |
| UNION PAC CORP | COM | 907818108 |  | 51659845 | 218555 | SH |  | SOLE |  | 167431 | 0 | 51124 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 22067874 | 264191 | SH |  | SOLE |  | 202385 | 0 | 61806 |
| UNIVERSAL DISPLAY CORP | COM | 91347P105 |  | 32961649 | 229490 | SH |  | SOLE |  | 210763 | 0 | 18727 |
| US BANCORP DEL | COM NEW | 902973304 |  | 38407320 | 794689 | SH |  | SOLE |  | 582648 | 0 | 212041 |
| V F CORP | COM | 918204108 |  | 30071817 | 2083979 | SH |  | SOLE |  | 1717935 | 0 | 366044 |
| VISHAY INTERTECHNOLOGY INC | COM | 928298108 |  | 67066142 | 4383408 | SH |  | SOLE |  | 3862341 | 0 | 521067 |
| W  T OFFSHORE INC | COM | 92922P106 |  | 2358896 | 1296097 | SH |  | SOLE |  | 1003633 | 0 | 292464 |
| WALKER  DUNLOP INC | COM | 93148P102 |  | 44932203 | 537338 | SH |  | SOLE |  | 499044 | 0 | 38294 |
| WEATHERFORD INTL PLC | ORD SHS | G48833118 |  | 20724846 | 302862 | SH |  | SOLE |  | 270775 | 0 | 32087 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 71433415 | 852224 | SH |  | SOLE |  | 648620 | 0 | 203604 |
| WERNER ENTERPRISES INC | COM | 950755108 |  | 69213467 | 2629691 | SH |  | SOLE |  | 2297270 | 0 | 332421 |
| WESTERN DIGITAL CORP | COM | 958102105 |  | 31588026 | 263102 | SH |  | SOLE |  | 201552 | 0 | 61550 |
| WESTLAKE CORPORATION | COM | 960413102 |  | 14565034 | 189009 | SH |  | SOLE |  | 144779 | 0 | 44230 |
| WEYERHAEUSER CO MTN BE | COM NEW | 962166104 |  | 27209727 | 1097609 | SH |  | SOLE |  | 840889 | 0 | 256720 |
| WHIRLPOOL CORP | COM | 963320106 |  | 10298958 | 131030 | SH |  | SOLE |  | 100377 | 0 | 30653 |
| WINNEBAGO INDS INC | COM | 974637100 |  | 7318612 | 218858 | SH |  | SOLE |  | 181822 | 0 | 37036 |
| WORTHINGTON STL INC | COM SHS | 982104101 |  | 5196538 | 170995 | SH |  | SOLE |  | 143158 | 0 | 27837 |

---