# EDGAR Filing Document

**Accession Number:** 0001759395
**File Stem:** 0001420506-26-000201
**Filing Date:** 2026-2
**Character Count:** 44585
**Document Hash:** 7892a10cfebb39aecb66b80420e7c053
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001420506-26-000201.hdr.sgml**: 20260209

**ACCESSION NUMBER**: 0001420506-26-000201

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260209

**DATE AS OF CHANGE**: 20260206

**EFFECTIVENESS DATE**: 20260209

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MQS Management LLC
- **CENTRAL INDEX KEY:** 0001759395

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-21859
- **FILM NUMBER:** 26609014

**BUSINESS ADDRESS:**
- **STREET 1:** 41 MADISON AVENUE
- **STREET 2:** 34TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 212-685-3600

**MAIL ADDRESS:**
- **STREET 1:** 41 MADISON AVENUE
- **STREET 2:** 34TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**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:** MQS Management LLC<br>**Address:** 41 MADISON AVENUE<br>34TH FLOOR<br>NEW YORK, NY 10010

**Form 13F File Number:** 028-21859

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:** David Babcock<br>**Title:** President  Chief Compliance Officer<br>**Phone:** 212-685-3600

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

David Babcock President  Chief Compliance Officer  NEW YORK, NY  02-06-2026<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:** 386

**Form 13F Information Table Value Total:** $169609384

      (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 |
| 3M CO | COM | 88579Y101 | BBG000BP5522 | 577321 | 3606 | SH |  | SOLE |  | 3606 | 0 | 0 |
| AAR CORP | COM | 000361105 | BBG000BBGS03 | 299286 | 3615 | SH |  | SOLE |  | 3615 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 | BBG000B9ZZG4 | 385392 | 3076 | SH |  | SOLE |  | 3076 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 | BBG003P7K0B5 | 672446 | 2943 | SH |  | SOLE |  | 2943 | 0 | 0 |
| ADAMAS TRUST INC. | COM | 649604840 | BBG000GZ8014 | 134634 | 18443 | SH |  | SOLE |  | 18443 | 0 | 0 |
| ADDUS HOMECARE CORP | COM | 006739106 | BBG000NJGX84 | 429775 | 4002 | SH |  | SOLE |  | 4002 | 0 | 0 |
| ADIENT PLC | ORD SHS | G0084W101 | BBG00BL29G48 | 265102 | 13829 | SH |  | SOLE |  | 13829 | 0 | 0 |
| ADT INC DEL | COM | 00090Q103 | BBG00JLZ5SD6 | 281409 | 34871 | SH |  | SOLE |  | 34871 | 0 | 0 |
| ADTALEM GLOBAL ED INC | COM | 00737L103 | BBG000DQC147 | 203939 | 1971 | SH |  | SOLE |  | 1971 | 0 | 0 |
| AECOM | COM | 00766T100 | BBG000F61TD0 | 472741 | 4959 | SH |  | SOLE |  | 4959 | 0 | 0 |
| AFFILIATED MANAGERS GROUP IN | COM | 008252108 | BBG000C06204 | 659008 | 2286 | SH |  | SOLE |  | 2286 | 0 | 0 |
| AFLAC INC | COM | 001055102 | BBG000BBBRC7 | 416159 | 3774 | SH |  | SOLE |  | 3774 | 0 | 0 |
| AGNICO EAGLE MINES LTD | COM | 008474108 | BBG000DLVGV4 | 1108387 | 6538 | SH |  | SOLE |  | 6538 | 0 | 0 |
| ALKERMES PLC | SHS | G01767105 | BBG000C9F2F9 | 202911 | 7252 | SH |  | SOLE |  | 7252 | 0 | 0 |
| ALLEGION PLC | ORD SHS | G0176J109 | BBG004T9FH88 | 428143 | 2689 | SH |  | SOLE |  | 2689 | 0 | 0 |
| ALLSTATE CORP | COM | 020002101 | BBG000BVMJ93 | 328669 | 1579 | SH |  | SOLE |  | 1579 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 | BBG000BP6MW1 | 630685 | 10938 | SH |  | SOLE |  | 10938 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 | BBG000BCR153 | 912667 | 2467 | SH |  | SOLE |  | 2467 | 0 | 0 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 | BBG000B9Y214 | 553748 | 3154 | SH |  | SOLE |  | 3154 | 0 | 0 |
| AMERIS BANCORP | COM | 03076K108 | BBG000CDY5M4 | 388655 | 5233 | SH |  | SOLE |  | 5233 | 0 | 0 |
| AMERISAFE INC | COM | 03071H100 | BBG000Q0JJQ0 | 270445 | 7041 | SH |  | SOLE |  | 7041 | 0 | 0 |
| AMGEN INC | COM | 031162100 | BBG000BBS2Y0 | 398009 | 1216 | SH |  | SOLE |  | 1216 | 0 | 0 |
| AMPHENOL CORP NEW | CL A | 032095101 | BBG000B9YL12 | 355013 | 2627 | SH |  | SOLE |  | 2627 | 0 | 0 |
| ANHEUSER BUSCH INBEV SA/NV | SPONSORED ADR | 03524A108 | BBG000RYCBX1 | 345112 | 5389 | SH |  | SOLE |  | 5389 | 0 | 0 |
| APA CORPORATION | COM | 03743Q108 | BBG00YTS96G2 | 438763 | 17938 | SH |  | SOLE |  | 17938 | 0 | 0 |
| APOLLO COML REAL EST FIN INC | COM | 03762U105 | BBG000NFPHS5 | 227170 | 23468 | SH |  | SOLE |  | 23468 | 0 | 0 |
| APTARGROUP INC | COM | 038336103 | BBG000BGX4L3 | 383442 | 3144 | SH |  | SOLE |  | 3144 | 0 | 0 |
| APTIV PLC | COM SHS | G3265R107 | BBG01R91FZ49 | 395364 | 5196 | SH |  | SOLE |  | 5196 | 0 | 0 |
| ARAMARK | COM | 03852U106 | BBG005HMZVD0 | 235720 | 6395 | SH |  | SOLE |  | 6395 | 0 | 0 |
| ARCH CAP GROUP LTD | ORD | G0450A105 | BBG000HXNN20 | 871529 | 9086 | SH |  | SOLE |  | 9086 | 0 | 0 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 | BBG000BB7059 | 297511 | 5175 | SH |  | SOLE |  | 5175 | 0 | 0 |
| ARKO CORP | COM | 041242108 | BBG00YD8K411 | 46971 | 10346 | SH |  | SOLE |  | 10346 | 0 | 0 |
| ARMSTRONG WORLD INDS INC NEW | COM | 04247X102 | BBG000DW4N45 | 269833 | 1412 | SH |  | SOLE |  | 1412 | 0 | 0 |
| ARTISAN PARTNERS ASSET MGMT | CL A | 04316A108 | BBG001M6D022 | 606333 | 14883 | SH |  | SOLE |  | 14883 | 0 | 0 |
| ASSOCIATED BANC CORP | COM | 045487105 | BBG000BCFS48 | 563423 | 21872 | SH |  | SOLE |  | 21872 | 0 | 0 |
| AT INC | COM | 00206R102 | BBG000BSJLV4 | 533985 | 21497 | SH |  | SOLE |  | 21497 | 0 | 0 |
| ATMOS ENERGY CORP | COM | 049560105 | BBG000BRNJ37 | 665826 | 3972 | SH |  | SOLE |  | 3972 | 0 | 0 |
| AUTODESK INC | COM | 052769106 | BBG000BM7HL0 | 649150 | 2193 | SH |  | SOLE |  | 2193 | 0 | 0 |
| AUTOLIV INC | COM | 052800109 | BBG000BVLVN1 | 230278 | 1940 | SH |  | SOLE |  | 1940 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 | BBG000JG0547 | 1007570 | 3917 | SH |  | SOLE |  | 3917 | 0 | 0 |
| AUTONATION INC | COM | 05329W102 | BBG000BBXP55 | 347299 | 1682 | SH |  | SOLE |  | 1682 | 0 | 0 |
| AVALONBAY CMNTYS INC | COM | 053484101 | BBG000BLPDS4 | 913258 | 5037 | SH |  | SOLE |  | 5037 | 0 | 0 |
| AVIENT CORPORATION | COM | 05368V106 | BBG000C8NKJ8 | 322366 | 10319 | SH |  | SOLE |  | 10319 | 0 | 0 |
| AVNET INC | COM | 053807103 | BBG000BCPB71 | 451375 | 9388 | SH |  | SOLE |  | 9388 | 0 | 0 |
| BAKER HUGHES COMPANY | CL A | 05722G100 | BBG00GBVBK51 | 573986 | 12604 | SH |  | SOLE |  | 12604 | 0 | 0 |
| BANC OF CALIFORNIA INC | COM | 05990K106 | BBG000F7VK71 | 305515 | 15838 | SH |  | SOLE |  | 15838 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 | BBG000BCTN44 | 424545 | 7719 | SH |  | SOLE |  | 7719 | 0 | 0 |
| BANK MONTREAL QUE | COM | 063671101 | BBG000DLYCC1 | 575229 | 4432 | SH |  | SOLE |  | 4432 | 0 | 0 |
| BANK OZK LITTLE ROCK ARK | COM | 06417N103 | BBG000QFJJW0 | 241283 | 5243 | SH |  | SOLE |  | 5243 | 0 | 0 |
| BARCLAYS PLC | ADR | 06738E204 | BBG000BCZ4M9 | 457184 | 17964 | SH |  | SOLE |  | 17964 | 0 | 0 |
| BARRETT BUSINESS SVCS INC | COM | 068463108 | BBG000BHJSC4 | 238407 | 6584 | SH |  | SOLE |  | 6584 | 0 | 0 |
| BENTLEY SYS INC | COM CL B | 08265T208 | BBG000BMSRR9 | 322380 | 8447 | SH |  | SOLE |  | 8447 | 0 | 0 |
| BERKLEY W R CORP | COM | 084423102 | BBG000BD1KV8 | 212744 | 3034 | SH |  | SOLE |  | 3034 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | BBG000DWH8Q0 | 819822 | 1631 | SH |  | SOLE |  | 1631 | 0 | 0 |
| BHP GROUP LTD | SPONSORED ADS | 088606108 | BBG000BD5SC8 | 1588455 | 26312 | SH |  | SOLE |  | 26312 | 0 | 0 |
| BLACKBERRY LTD | COM | 09228F103 | BBG000CR9355 | 75842 | 20011 | SH |  | SOLE |  | 20011 | 0 | 0 |
| BLACKROCK INC | COM | 09290D101 | BBG01PT1FFJ9 | 701073 | 655 | SH |  | SOLE |  | 655 | 0 | 0 |
| BLOCK H  R INC | COM | 093671105 | BBG000BLDXM9 | 221299 | 5078 | SH |  | SOLE |  | 5078 | 0 | 0 |
| BOK FINL CORP | COM NEW | 05561Q201 | BBG000CFZ003 | 291767 | 2463 | SH |  | SOLE |  | 2463 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 | BBG000BLBVN4 | 326675 | 61 | SH |  | SOLE |  | 61 | 0 | 0 |
| BORGWARNER INC | COM | 099724106 | BBG000BJ4D93 | 687030 | 15247 | SH |  | SOLE |  | 15247 | 0 | 0 |
| BOSTON BEER INC | CL A | 100557107 | BBG000BCZFG1 | 344600 | 1766 | SH |  | SOLE |  | 1766 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 | BBG000C0LY07 | 503543 | 5281 | SH |  | SOLE |  | 5281 | 0 | 0 |
| BP PLC | SPONSORED ADR | 055622104 | BBG000BT4G94 | 686473 | 19766 | SH |  | SOLE |  | 19766 | 0 | 0 |
| BRADY CORP | CL A | 104674106 | BBG000BDNXL7 | 320377 | 4088 | SH |  | SOLE |  | 4088 | 0 | 0 |
| BRIXMOR PPTY GROUP INC | COM | 11120U105 | BBG004V7PD50 | 892634 | 34044 | SH |  | SOLE |  | 34044 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 | BBG00KHY5S69 | 328449 | 949 | SH |  | SOLE |  | 949 | 0 | 0 |
| BROADRIDGE FINL SOLUTIONS IN | COM | 11133T103 | BBG000PPFN90 | 517531 | 2319 | SH |  | SOLE |  | 2319 | 0 | 0 |
| BUILDERS FIRSTSOURCE INC | COM | 12008R107 | BBG000BKD5G9 | 487596 | 4739 | SH |  | SOLE |  | 4739 | 0 | 0 |
| BXP INC | COM | 101121101 | BBG000BS5F97 | 667782 | 9896 | SH |  | SOLE |  | 9896 | 0 | 0 |
| BYLINE BANCORP INC | COM | 124411109 | BBG00GZYYYR0 | 285174 | 9783 | SH |  | SOLE |  | 9783 | 0 | 0 |
| CACI INTL INC | CL A | 127190304 | BBG000KQYD03 | 534408 | 1003 | SH |  | SOLE |  | 1003 | 0 | 0 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 | BBG000C13CD9 | 667358 | 2135 | SH |  | SOLE |  | 2135 | 0 | 0 |
| CAL MAINE FOODS INC | COM NEW | 128030202 | BBG000CDMJW6 | 218420 | 2745 | SH |  | SOLE |  | 2745 | 0 | 0 |
| CALIFORNIA RES CORP | COM STOCK | 13057Q305 | BBG00Y04KPD4 | 280868 | 6282 | SH |  | SOLE |  | 6282 | 0 | 0 |
| CALIFORNIA WTR SVC GROUP | COM | 130788102 | BBG000D8KWS4 | 336414 | 7764 | SH |  | SOLE |  | 7764 | 0 | 0 |
| CALIX INC | COM | 13100M509 | BBG000PXJBS4 | 266185 | 5029 | SH |  | SOLE |  | 5029 | 0 | 0 |
| CANADIAN IMPERIAL BANK OF CO | COM | 136069101 | BBG000FKTLD6 | 794378 | 8767 | SH |  | SOLE |  | 8767 | 0 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 | BBG000BGKVR1 | 308040 | 1271 | SH |  | SOLE |  | 1271 | 0 | 0 |
| CARETRUST REIT INC | COM | 14174T107 | BBG006H11H60 | 428532 | 11851 | SH |  | SOLE |  | 11851 | 0 | 0 |
| CARNIVAL CORP | UNIT 99/99/9999 | 143658300 | BBG000BF6PR2 | 455199 | 14905 | SH |  | SOLE |  | 14905 | 0 | 0 |
| CARRIER GLOBAL CORPORATION | COM | 14448C104 | BBG00RP5HYX2 | 377700 | 7148 | SH |  | SOLE |  | 7148 | 0 | 0 |
| CASEYS GEN STORES INC | COM | 147528103 | BBG000BF0672 | 333837 | 604 | SH |  | SOLE |  | 604 | 0 | 0 |
| CASS INFORMATION SYS INC | COM | 14808P109 | BBG000BCXN49 | 208181 | 5014 | SH |  | SOLE |  | 5014 | 0 | 0 |
| CATHAY GEN BANCORP | COM | 149150104 | BBG000C668L5 | 739641 | 15285 | SH |  | SOLE |  | 15285 | 0 | 0 |
| CENCORA INC | COM | 03073E105 | BBG000MDCSN6 | 813640 | 2409 | SH |  | SOLE |  | 2409 | 0 | 0 |
| CENOVUS ENERGY INC | COM | 15135U109 | BBG000PSJR64 | 667917 | 39475 | SH |  | SOLE |  | 39475 | 0 | 0 |
| CENTERPOINT ENERGY INC | COM | 15189T107 | BBG000FDC0R1 | 514753 | 13426 | SH |  | SOLE |  | 13426 | 0 | 0 |
| CF INDS HLDGS INC | COM | 125269100 | BBG000BWJJP7 | 509593 | 6589 | SH |  | SOLE |  | 6589 | 0 | 0 |
| CHECK POINT SOFTWARE TECH LT | ORD | M22465104 | BBG000K82ZT8 | 358687 | 1933 | SH |  | SOLE |  | 1933 | 0 | 0 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 | BBG000C3HV48 | 530296 | 2728 | SH |  | SOLE |  | 2728 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 | BBG000K4NHJ5 | 850905 | 5583 | SH |  | SOLE |  | 5583 | 0 | 0 |
| CIENA CORP | COM NEW | 171779309 | BBG000BP13M9 | 317362 | 1357 | SH |  | SOLE |  | 1357 | 0 | 0 |
| CINCINNATI FINL CORP | COM | 172062101 | BBG000BFPK65 | 980083 | 6001 | SH |  | SOLE |  | 6001 | 0 | 0 |
| CINTAS CORP | COM | 172908105 | BBG000H3YXF8 | 699244 | 3718 | SH |  | SOLE |  | 3718 | 0 | 0 |
| CIRRUS LOGIC INC | COM | 172755100 | BBG000C1DHF5 | 315092 | 2659 | SH |  | SOLE |  | 2659 | 0 | 0 |
| CITY HLDG CO | COM | 177835105 | BBG000BFJFX3 | 395625 | 3319 | SH |  | SOLE |  | 3319 | 0 | 0 |
| CME GROUP INC | COM | 12572Q105 | BBG000BHLYP4 | 362923 | 1329 | SH |  | SOLE |  | 1329 | 0 | 0 |
| CNH INDL N V | SHS | N20944109 | BBG0059JSF94 | 374830 | 40654 | SH |  | SOLE |  | 40654 | 0 | 0 |
| CNO FINL GROUP INC | COM | 12621E103 | BBG000Q1GLM0 | 210991 | 4968 | SH |  | SOLE |  | 4968 | 0 | 0 |
| COMMERCIAL METALS CO | COM | 201723103 | BBG000BFSPW2 | 206552 | 2984 | SH |  | SOLE |  | 2984 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 | BBG000F6H8W8 | 901145 | 1045 | SH |  | SOLE |  | 1045 | 0 | 0 |
| COUSINS PPTYS INC | COM NEW | 222795502 | BBG000CW9DM3 | 490052 | 19009 | SH |  | SOLE |  | 19009 | 0 | 0 |
| CRANE COMPANY | COMMON STOCK | 224408104 | BBG01DC9X8G6 | 355212 | 1926 | SH |  | SOLE |  | 1926 | 0 | 0 |
| CRANE NXT CO | COM | 224441105 | BBG017BY2KX3 | 283973 | 6033 | SH |  | SOLE |  | 6033 | 0 | 0 |
| CREDICORP LTD | COM | G2519Y108 | BBG000FKXBN2 | 253708 | 884 | SH |  | SOLE |  | 884 | 0 | 0 |
| CREDIT ACCEP CORP MICH | COM | 225310101 | BBG000CS0D96 | 237251 | 535 | SH |  | SOLE |  | 535 | 0 | 0 |
| CROWN CASTLE INC | COM | 22822V101 | BBG000FV22P0 | 358146 | 4030 | SH |  | SOLE |  | 4030 | 0 | 0 |
| CROWN HLDGS INC | COM | 228368106 | BBG000BF68R0 | 503729 | 4892 | SH |  | SOLE |  | 4892 | 0 | 0 |
| CUBESMART | COM | 229663109 | BBG000HF2BJ0 | 467749 | 12975 | SH |  | SOLE |  | 12975 | 0 | 0 |
| CUMMINS INC | COM | 231021106 | BBG000BGPXY4 | 1066330 | 2089 | SH |  | SOLE |  | 2089 | 0 | 0 |
| CURTISS WRIGHT CORP | COM | 231561101 | BBG000BGSQP6 | 479054 | 869 | SH |  | SOLE |  | 869 | 0 | 0 |
| CVB FINL CORP | COM | 126600105 | BBG000JTYFB2 | 530937 | 28545 | SH |  | SOLE |  | 28545 | 0 | 0 |
| CVR ENERGY INC | COM | 12662P108 | BBG000QHVBB2 | 213187 | 8380 | SH |  | SOLE |  | 8380 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 | BBG000BGRZP7 | 288632 | 3637 | SH |  | SOLE |  | 3637 | 0 | 0 |
| D R HORTON INC | COM | 23331A109 | BBG000DQTZG1 | 308224 | 2140 | SH |  | SOLE |  | 2140 | 0 | 0 |
| DARDEN RESTAURANTS INC | COM | 237194105 | BBG000BBP059 | 358287 | 1947 | SH |  | SOLE |  | 1947 | 0 | 0 |
| DIAGEO PLC | SPON ADR NEW | 25243Q205 | BBG000BWZSZ8 | 427036 | 4950 | SH |  | SOLE |  | 4950 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 | BBG000BH4SB1 | 533581 | 4690 | SH |  | SOLE |  | 4690 | 0 | 0 |
| DOMINOS PIZZA INC | COM | 25754A201 | BBG000P458P3 | 462253 | 1109 | SH |  | SOLE |  | 1109 | 0 | 0 |
| DONALDSON INC | COM | 257651109 | BBG000BGZQF9 | 532226 | 6003 | SH |  | SOLE |  | 6003 | 0 | 0 |
| DOUGLAS DYNAMICS INC | COM | 25960R105 | BBG000Q90GN0 | 266489 | 8162 | SH |  | SOLE |  | 8162 | 0 | 0 |
| DROPBOX INC | CL A | 26210C104 | BBG0018SLDN0 | 292984 | 10539 | SH |  | SOLE |  | 10539 | 0 | 0 |
| DTE ENERGY CO | COM | 233331107 | BBG000BB2CZ5 | 592534 | 4594 | SH |  | SOLE |  | 4594 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 | BBG000BHGGD2 | 841802 | 7182 | SH |  | SOLE |  | 7182 | 0 | 0 |
| DYNATRACE INC | COM NEW | 268150109 | BBG00PNN7C86 | 422478 | 9748 | SH |  | SOLE |  | 9748 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 | BBG000BJ3QG7 | 745950 | 2342 | SH |  | SOLE |  | 2342 | 0 | 0 |
| ELEMENT SOLUTIONS INC | COM | 28618M106 | BBG005C4XHW7 | 494077 | 19771 | SH |  | SOLE |  | 19771 | 0 | 0 |
| EMCOR GROUP INC | COM | 29084Q100 | BBG000BBRRG6 | 701111 | 1146 | SH |  | SOLE |  | 1146 | 0 | 0 |
| ENCOMPASS HEALTH CORP | COM | 29261A100 | BBG000BGBVK8 | 264289 | 2490 | SH |  | SOLE |  | 2490 | 0 | 0 |
| ENERGY RECOVERY INC | COM | 29270J100 | BBG000VFBBC1 | 197682 | 14654 | SH |  | SOLE |  | 14654 | 0 | 0 |
| ENERSYS | COM | 29275Y102 | BBG000PWTFF0 | 335617 | 2287 | SH |  | SOLE |  | 2287 | 0 | 0 |
| ENOVA INTL INC | COM | 29357K103 | BBG0022PSJ50 | 321002 | 2042 | SH |  | SOLE |  | 2042 | 0 | 0 |
| ENSIGN GROUP INC | COM | 29358P101 | BBG000K1T9L0 | 390382 | 2241 | SH |  | SOLE |  | 2241 | 0 | 0 |
| ENTERPRISE FINL SVCS CORP | COM | 293712105 | BBG000DZN289 | 327834 | 6071 | SH |  | SOLE |  | 6071 | 0 | 0 |
| EOG RES INC | COM | 26875P101 | BBG000BZ9367 | 880929 | 8389 | SH |  | SOLE |  | 8389 | 0 | 0 |
| EQUITY RESIDENTIAL | SH BEN INT | 29476L107 | BBG000BG8P98 | 1547569 | 24549 | SH |  | SOLE |  | 24549 | 0 | 0 |
| ESAB CORPORATION | COM | 29605J106 | BBG0162JFDZ8 | 467101 | 4181 | SH |  | SOLE |  | 4181 | 0 | 0 |
| ESSENT GROUP LTD | COM | G3198U102 | BBG0058YL7L3 | 657446 | 10113 | SH |  | SOLE |  | 10113 | 0 | 0 |
| ESSEX PPTY TR INC | COM | 297178105 | BBG000CGJP77 | 1243765 | 4753 | SH |  | SOLE |  | 4753 | 0 | 0 |
| ETHAN ALLEN INTERIORS INC | COM | 297602104 | BBG000BBVHG3 | 219515 | 9611 | SH |  | SOLE |  | 9611 | 0 | 0 |
| EVERGY INC | COM | 30034W106 | BBG00H433CR2 | 545850 | 7530 | SH |  | SOLE |  | 7530 | 0 | 0 |
| EXELON CORP | COM | 30161N101 | BBG000J6XT05 | 896516 | 20567 | SH |  | SOLE |  | 20567 | 0 | 0 |
| EXLSERVICE HOLDINGS INC | COM | 302081104 | BBG000NS3P30 | 219075 | 5162 | SH |  | SOLE |  | 5162 | 0 | 0 |
| EXTREME NETWORKS | COM | 30226D106 | BBG000BFR0T2 | 228371 | 13716 | SH |  | SOLE |  | 13716 | 0 | 0 |
| FASTENAL CO | COM | 311900104 | BBG000BJ8YN7 | 726273 | 18098 | SH |  | SOLE |  | 18098 | 0 | 0 |
| FEDEX CORP | COM | 31428X106 | BBG000BJF3F6 | 255641 | 885 | SH |  | SOLE |  | 885 | 0 | 0 |
| FIDUS INVT CORP | COM | 316500107 | BBG001K9JH07 | 851960 | 44143 | SH |  | SOLE |  | 44143 | 0 | 0 |
| FIRST AMERN FINL CORP | COM | 31847R102 | BBG000V78W00 | 390697 | 6359 | SH |  | SOLE |  | 6359 | 0 | 0 |
| FIRST BANCORP N C | COM | 318910106 | BBG000BJ9RS6 | 341969 | 6733 | SH |  | SOLE |  | 6733 | 0 | 0 |
| FIRST COMWLTH FINL CORP PA | COM | 319829107 | BBG000CND9X5 | 571655 | 33906 | SH |  | SOLE |  | 33906 | 0 | 0 |
| FIRST MERCHANTS CORP | COM | 320817109 | BBG000BBSJ28 | 292531 | 7805 | SH |  | SOLE |  | 7805 | 0 | 0 |
| FIRSTCASH HOLDINGS INC | COM | 33768G107 | BBG0145KL747 | 220901 | 1386 | SH |  | SOLE |  | 1386 | 0 | 0 |
| FORESTAR GROUP INC | COM | 346232101 | BBG000BB20W4 | 412405 | 16744 | SH |  | SOLE |  | 16744 | 0 | 0 |
| FOUR CORNERS PPTY TR INC | COM | 35086T109 | BBG009H33QS4 | 488411 | 21180 | SH |  | SOLE |  | 21180 | 0 | 0 |
| FRONTLINE PLC | COM | M46528101 | BBG000BTQR05 | 494136 | 22646 | SH |  | SOLE |  | 22646 | 0 | 0 |
| FULLER H B CO | COM | 359694106 | BBG000BJZBK0 | 411998 | 6929 | SH |  | SOLE |  | 6929 | 0 | 0 |
| G III APPAREL GROUP LTD | COM | 36237H101 | BBG000C2YZ60 | 301589 | 10414 | SH |  | SOLE |  | 10414 | 0 | 0 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 | BBG000BBHZK4 | 387667 | 1498 | SH |  | SOLE |  | 1498 | 0 | 0 |
| GARMIN LTD | SHS | H2906T109 | BBG000C4LQ60 | 382372 | 1885 | SH |  | SOLE |  | 1885 | 0 | 0 |
| GCM GROSVENOR INC | COM CL A | 36831E108 | BBG00Y73FFL8 | 361142 | 31903 | SH |  | SOLE |  | 31903 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 | BBG000BK6PH2 | 285544 | 927 | SH |  | SOLE |  | 927 | 0 | 0 |
| GENERAL DYNAMICS CORP | COM | 369550108 | BBG000BK69Z8 | 1222076 | 3630 | SH |  | SOLE |  | 3630 | 0 | 0 |
| GENERAL MLS INC | COM | 370334104 | BBG000BKCHJ1 | 694198 | 14929 | SH |  | SOLE |  | 14929 | 0 | 0 |
| GENIUS SPORTS LIMITED | SHARES CL A | G3934V109 | BBG00ZVN31X5 | 142037 | 12889 | SH |  | SOLE |  | 12889 | 0 | 0 |
| GENTEX CORP | COM | 371901109 | BBG000BKJ092 | 214573 | 9221 | SH |  | SOLE |  | 9221 | 0 | 0 |
| GENUINE PARTS CO | COM | 372460105 | BBG000BKL4C7 | 362732 | 2950 | SH |  | SOLE |  | 2950 | 0 | 0 |
| GFL ENVIRONMENTAL INC | SUB VTG SHS | 36168Q104 | BBG00PQS02V5 | 308424 | 7181 | SH |  | SOLE |  | 7181 | 0 | 0 |
| GILDAN ACTIVEWEAR INC | COM | 375916103 | BBG000BH2GF5 | 279633 | 4477 | SH |  | SOLE |  | 4477 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 | BBG000CKGBP2 | 391418 | 3189 | SH |  | SOLE |  | 3189 | 0 | 0 |
| GLOBAL BUSINESS TRAVEL GROUP | COM CL A | 37890B100 | BBG00Y52B8N0 | 161667 | 21133 | SH |  | SOLE |  | 21133 | 0 | 0 |
| GODADDY INC | CL A | 380237107 | BBG006MDLY41 | 218381 | 1760 | SH |  | SOLE |  | 1760 | 0 | 0 |
| GOLD FIELDS LTD | SPONSORED ADR | 38059T106 | BBG000KHT6T3 | 369669 | 8467 | SH |  | SOLE |  | 8467 | 0 | 0 |
| GOLUB CAP BDC INC | COM | 38173M102 | BBG000PXNF64 | 387003 | 28519 | SH |  | SOLE |  | 28519 | 0 | 0 |
| GRANITE RIDGE RESOURCES INC | COM | 387432107 | BBG017TFM4Q7 | 283748 | 60372 | SH |  | SOLE |  | 60372 | 0 | 0 |
| GUIDEWIRE SOFTWARE INC | COM | 40171V100 | BBG0021RGSV1 | 206638 | 1028 | SH |  | SOLE |  | 1028 | 0 | 0 |
| HALLIBURTON CO | COM | 406216101 | BBG000BKTJ63 | 222887 | 7887 | SH |  | SOLE |  | 7887 | 0 | 0 |
| HANMI FINL CORP | COM NEW | 410495204 | BBG000M4M6Q0 | 229295 | 8483 | SH |  | SOLE |  | 8483 | 0 | 0 |
| HAYWARD HLDGS INC | COM | 421298100 | BBG00Z9CCRM9 | 234825 | 15199 | SH |  | SOLE |  | 15199 | 0 | 0 |
| HCA HEALTHCARE INC | COM | 40412C101 | BBG000QW7X64 | 481800 | 1032 | SH |  | SOLE |  | 1032 | 0 | 0 |
| HEALTHCARE RLTY TR | CL A COM | 42226K105 | BBG002ZSJC99 | 173398 | 10230 | SH |  | SOLE |  | 10230 | 0 | 0 |
| HEALTHPEAK PROPERTIES INC | COM | 42250P103 | BBG000BKYGV5 | 256122 | 15928 | SH |  | SOLE |  | 15928 | 0 | 0 |
| HEALTHSTREAM INC | COM | 42222N103 | BBG000BVK1D9 | 398811 | 17287 | SH |  | SOLE |  | 17287 | 0 | 0 |
| HELIX ENERGY SOLUTIONS GRP I | COM | 42330P107 | BBG000J7R4M1 | 220372 | 35147 | SH |  | SOLE |  | 35147 | 0 | 0 |
| HERCULES CAPITAL INC | COM | 427096508 | BBG000C2RB52 | 727393 | 38650 | SH |  | SOLE |  | 38650 | 0 | 0 |
| HIGHWOODS PPTYS INC | COM | 431284108 | BBG000C43860 | 224376 | 8690 | SH |  | SOLE |  | 8690 | 0 | 0 |
| HILLMAN SOLUTIONS CORP | COM | 431636109 | BBG00XXPB3L3 | 121967 | 14084 | SH |  | SOLE |  | 14084 | 0 | 0 |
| HILLTOP HOLDINGS INC | COM | 432748101 | BBG000GM7657 | 546434 | 16100 | SH |  | SOLE |  | 16100 | 0 | 0 |
| HOME BANCSHARES INC | COM | 436893200 | BBG000QJXHR6 | 260715 | 9385 | SH |  | SOLE |  | 9385 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 | BBG000BKZDM1 | 782483 | 2274 | SH |  | SOLE |  | 2274 | 0 | 0 |
| HOULIHAN LOKEY INC | CL A | 441593100 | BBG009L72FL2 | 380605 | 2185 | SH |  | SOLE |  | 2185 | 0 | 0 |
| HUBBELL INC | COM | 443510607 | BBG000BLK490 | 264690 | 596 | SH |  | SOLE |  | 596 | 0 | 0 |
| HUNT J B TRANS SVCS INC | COM | 445658107 | BBG000BMDBZ1 | 399369 | 2055 | SH |  | SOLE |  | 2055 | 0 | 0 |
| IMPERIAL OIL LTD | COM NEW | 453038408 | BBG000C32Y11 | 496541 | 5753 | SH |  | SOLE |  | 5753 | 0 | 0 |
| INCYTE CORP | COM | 45337C102 | BBG000BNPSQ9 | 284951 | 2885 | SH |  | SOLE |  | 2885 | 0 | 0 |
| INNOVEX INTERNATIONAL INC | COM | 457651107 | BBG000BVDFM6 | 287787 | 13159 | SH |  | SOLE |  | 13159 | 0 | 0 |
| INSIGHT ENTERPRISES INC | COM | 45765U103 | BBG000DY3K39 | 226894 | 2785 | SH |  | SOLE |  | 2785 | 0 | 0 |
| INSULET CORP | COM | 45784P101 | BBG000R7XX87 | 284808 | 1002 | SH |  | SOLE |  | 1002 | 0 | 0 |
| INTERCONTINENTAL HOTELS GROU | SPONSORED ADS | 45857P806 | BBG000DX17X9 | 251100 | 1783 | SH |  | SOLE |  | 1783 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 | BBG000BLNQ16 | 208236 | 703 | SH |  | SOLE |  | 703 | 0 | 0 |
| INVITATION HOMES INC | COM | 46187W107 | BBG00FQH6BX3 | 720122 | 25913 | SH |  | SOLE |  | 25913 | 0 | 0 |
| IRONWOOD PHARMACEUTICALS INC | COM CL A | 46333X108 | BBG000GBZ3J2 | 41835 | 12414 | SH |  | SOLE |  | 12414 | 0 | 0 |
| ITT INC | COM | 45073V108 | BBG00CVQZQG8 | 440889 | 2541 | SH |  | SOLE |  | 2541 | 0 | 0 |
| JANUS INTERNATIONAL GROUP IN | COMMON STOCK | 47103N106 | BBG010FXGH31 | 98401 | 15046 | SH |  | SOLE |  | 15046 | 0 | 0 |
| KADANT INC | COM | 48282T104 | BBG000BKRVV0 | 219465 | 770 | SH |  | SOLE |  | 770 | 0 | 0 |
| KIMCO RLTY CORP | COM | 49446R109 | BBG000CN3V94 | 1382009 | 68180 | SH |  | SOLE |  | 68180 | 0 | 0 |
| KNIGHT-SWIFT TRANSN HLDGS IN | CL A | 499049104 | BBG001BD46F2 | 836480 | 16000 | SH |  | SOLE |  | 16000 | 0 | 0 |
| KORN FERRY | COM NEW | 500643200 | BBG000C5QQ08 | 677233 | 10258 | SH |  | SOLE |  | 10258 | 0 | 0 |
| LABCORP HOLDINGS INC | COM SHS | 504922105 | BBG01MNCMNF7 | 233569 | 931 | SH |  | SOLE |  | 931 | 0 | 0 |
| LAMAR ADVERTISING CO NEW | CL A | 512816109 | BBG000FGMKY1 | 248477 | 1963 | SH |  | SOLE |  | 1963 | 0 | 0 |
| LATHAM GROUP INC | COM | 51819L107 | BBG00ZVXLHH6 | 101175 | 15933 | SH |  | SOLE |  | 15933 | 0 | 0 |
| LEIDOS HOLDINGS INC | COM | 525327102 | BBG000C23RG1 | 452804 | 2510 | SH |  | SOLE |  | 2510 | 0 | 0 |
| LEMAITRE VASCULAR INC | COM | 525558201 | BBG000LY1HS2 | 297232 | 3665 | SH |  | SOLE |  | 3665 | 0 | 0 |
| LINDE PLC | SHS | G54950103 | BBG01FND0CC1 | 318513 | 747 | SH |  | SOLE |  | 747 | 0 | 0 |
| LIVE NATION ENTERTAINMENT IN | COM | 538034109 | BBG000FQ8195 | 272032 | 1909 | SH |  | SOLE |  | 1909 | 0 | 0 |
| LOEWS CORP | COM | 540424108 | BBG000C45D49 | 262854 | 2496 | SH |  | SOLE |  | 2496 | 0 | 0 |
| M/I HOMES INC | COM | 55305B101 | BBG000BL9P78 | 533935 | 4173 | SH |  | SOLE |  | 4173 | 0 | 0 |
| MAGNOLIA OIL  GAS CORP | CL A | 559663109 | BBG00H0M0J10 | 967056 | 44178 | SH |  | SOLE |  | 44178 | 0 | 0 |
| MALIBU BOATS INC | COM CL A | 56117J100 | BBG005PXTR70 | 232986 | 8259 | SH |  | SOLE |  | 8259 | 0 | 0 |
| MANHATTAN ASSOCIATES INC | COM | 562750109 | BBG000BFV758 | 266551 | 1538 | SH |  | SOLE |  | 1538 | 0 | 0 |
| MARATHON PETE CORP | COM | 56585A102 | BBG001QSXK51 | 1242656 | 7641 | SH |  | SOLE |  | 7641 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 | BBG000BGD7W6 | 797937 | 2572 | SH |  | SOLE |  | 2572 | 0 | 0 |
| MARSH  MCLENNAN COS INC | COM | 571748102 | BBG000BP4P74 | 509067 | 2744 | SH |  | SOLE |  | 2744 | 0 | 0 |
| MARZETTI COMPANY | COM | 513847103 | BBG000BN1M88 | 210622 | 1281 | SH |  | SOLE |  | 1281 | 0 | 0 |
| MASCO CORP | COM | 574599106 | BBG000BNNM75 | 445933 | 7027 | SH |  | SOLE |  | 7027 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 | BBG000F20WW2 | 649661 | 1138 | SH |  | SOLE |  | 1138 | 0 | 0 |
| MCKESSON CORP | COM | 58155Q103 | BBG000DYGRD9 | 657873 | 802 | SH |  | SOLE |  | 802 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 | BBG000BNWJ36 | 658587 | 6856 | SH |  | SOLE |  | 6856 | 0 | 0 |
| MELCO RESORTS AND ENTMNT LTD | ADR | 585464100 | BBG000BHP8J4 | 163308 | 21573 | SH |  | SOLE |  | 21573 | 0 | 0 |
| METLIFE INC | COM | 59156R108 | BBG000BB6MF1 | 767692 | 9725 | SH |  | SOLE |  | 9725 | 0 | 0 |
| MGIC INVT CORP WIS | COM | 552848103 | BBG000CBMKY5 | 704640 | 24115 | SH |  | SOLE |  | 24115 | 0 | 0 |
| MIDCAP FINANCIAL INVSTMNT CO | COM NEW | 03761U502 | BBG000CBNX94 | 597088 | 52193 | SH |  | SOLE |  | 52193 | 0 | 0 |
| MIRUM PHARMACEUTICALS INC | COM | 604749101 | BBG00MH7T2M7 | 229229 | 2902 | SH |  | SOLE |  | 2902 | 0 | 0 |
| MITSUBISHI UFJ FINL GROUP IN | SPONSORED ADS | 606822104 | BBG000D4F6K4 | 181280 | 11430 | SH |  | SOLE |  | 11430 | 0 | 0 |
| MOHAWK INDS INC | COM | 608190104 | BBG000FLZR62 | 275873 | 2524 | SH |  | SOLE |  | 2524 | 0 | 0 |
| MONARCH CASINO  RESORT INC | COM | 609027107 | BBG000BJ0932 | 359354 | 3755 | SH |  | SOLE |  | 3755 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 | BBG000D4LWF6 | 643484 | 11954 | SH |  | SOLE |  | 11954 | 0 | 0 |
| MONOLITHIC PWR SYS INC | COM | 609839105 | BBG000C30L48 | 232028 | 256 | SH |  | SOLE |  | 256 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 | BBG000BLZT71 | 348669 | 1964 | SH |  | SOLE |  | 1964 | 0 | 0 |
| MOTOROLA SOLUTIONS INC | COM NEW | 620076307 | BBG000BP9038 | 450018 | 1174 | SH |  | SOLE |  | 1174 | 0 | 0 |
| MUELLER INDS INC | COM | 624756102 | BBG000C6W649 | 475616 | 4143 | SH |  | SOLE |  | 4143 | 0 | 0 |
| MYR GROUP INC DEL | COM | 55405W104 | BBG000BC7VW9 | 362928 | 1661 | SH |  | SOLE |  | 1661 | 0 | 0 |
| NATIONAL BK HLDGS CORP | CL A | 633707104 | BBG003D8Y879 | 363262 | 9557 | SH |  | SOLE |  | 9557 | 0 | 0 |
| NEUROCRINE BIOSCIENCES INC | COM | 64125C109 | BBG000GJS7C1 | 289617 | 2042 | SH |  | SOLE |  | 2042 | 0 | 0 |
| NEWMARK GROUP INC | CL A | 65158N102 | BBG00J24S765 | 250234 | 14431 | SH |  | SOLE |  | 14431 | 0 | 0 |
| NEWS CORP NEW | CL A | 65249B109 | BBG0035LY913 | 214184 | 8200 | SH |  | SOLE |  | 8200 | 0 | 0 |
| NEXPOINT RESIDENTIAL TR INC | COM | 65341D102 | BBG0077Q6QN0 | 200165 | 6650 | SH |  | SOLE |  | 6650 | 0 | 0 |
| NICOLET BANKSHARES INC | COM | 65406E102 | BBG004HFS678 | 238718 | 1968 | SH |  | SOLE |  | 1968 | 0 | 0 |
| NISOURCE INC | COM | 65473P105 | BBG000BPZDS4 | 432842 | 10365 | SH |  | SOLE |  | 10365 | 0 | 0 |
| NNN REIT INC | COM | 637417106 | BBG000CLQ3T3 | 1039574 | 26232 | SH |  | SOLE |  | 26232 | 0 | 0 |
| NOMAD FOODS LTD | USD ORD SHS | G6564A105 | BBG0071GM823 | 253478 | 20262 | SH |  | SOLE |  | 20262 | 0 | 0 |
| NORDSON CORP | COM | 655663102 | BBG000BPWGR1 | 748218 | 3112 | SH |  | SOLE |  | 3112 | 0 | 0 |
| NORTHWEST BANCSHARES INC MD | COM | 667340103 | BBG000BG8NP5 | 180396 | 15033 | SH |  | SOLE |  | 15033 | 0 | 0 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 | BBG000LYF718 | 299316 | 2171 | SH |  | SOLE |  | 2171 | 0 | 0 |
| NPK INTERNATIONAL INC | COM SHS | 651718504 | BBG000C2HYW3 | 142694 | 11971 | SH |  | SOLE |  | 11971 | 0 | 0 |
| NUVEEN CHURCHILL DIRECT LEND | COM SHS | 67090S108 | BBG01L0P2M41 | 480840 | 36045 | SH |  | SOLE |  | 36045 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 | BBG000BBJQV0 | 804934 | 4316 | SH |  | SOLE |  | 4316 | 0 | 0 |
| NVR INC | COM | 62944T105 | BBG000BQC1R4 | 853254 | 117 | SH |  | SOLE |  | 117 | 0 | 0 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 | BBG000BND699 | 672235 | 3097 | SH |  | SOLE |  | 3097 | 0 | 0 |
| OCEANEERING INTL INC | COM | 675232102 | BBG000CPBGD8 | 245370 | 10211 | SH |  | SOLE |  | 10211 | 0 | 0 |
| OFG BANCORP | COM | 67103X102 | BBG000F5VPN6 | 341855 | 8342 | SH |  | SOLE |  | 8342 | 0 | 0 |
| OGE ENERGY CORP | COM | 670837103 | BBG000BQGP79 | 854640 | 20015 | SH |  | SOLE |  | 20015 | 0 | 0 |
| OLIN CORP | COM PAR $1 | 680665205 | BBG000BQHX53 | 265978 | 12769 | SH |  | SOLE |  | 12769 | 0 | 0 |
| ONESPAWORLD HOLDINGS LIMITED | COM | P73684113 | BBG00MKMQ6M4 | 260826 | 12576 | SH |  | SOLE |  | 12576 | 0 | 0 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 | BBG000BGYWY6 | 495179 | 5429 | SH |  | SOLE |  | 5429 | 0 | 0 |
| OTIS WORLDWIDE CORP | COM | 68902V107 | BBG00RP60KZ6 | 424870 | 4864 | SH |  | SOLE |  | 4864 | 0 | 0 |
| OVINTIV INC | COM | 69047Q102 | BBG00R2NHQH3 | 368582 | 9405 | SH |  | SOLE |  | 9405 | 0 | 0 |
| PACKAGING CORP AMER | COM | 695156109 | BBG000BB8WD9 | 214685 | 1041 | SH |  | SOLE |  | 1041 | 0 | 0 |
| PARK HOTELS  RESORTS INC | COM | 700517105 | BBG00FGXCK17 | 192349 | 18389 | SH |  | SOLE |  | 18389 | 0 | 0 |
| PC CONNECTION INC | COM | 69318J100 | BBG000BX74M4 | 307745 | 5328 | SH |  | SOLE |  | 5328 | 0 | 0 |
| PENNYMAC FINL SVCS INC NEW | COM | 70932M107 | BBG00LT0C1T4 | 211076 | 1601 | SH |  | SOLE |  | 1601 | 0 | 0 |
| PENSKE AUTOMOTIVE GRP INC | COM | 70959W103 | BBG000H6K4T5 | 368024 | 2325 | SH |  | SOLE |  | 2325 | 0 | 0 |
| PENTAIR PLC | SHS | G7S00T104 | BBG000C223L9 | 524866 | 5040 | SH |  | SOLE |  | 5040 | 0 | 0 |
| PEOPLES BANCORP INC | COM | 709789101 | BBG000BDPPR6 | 242732 | 8083 | SH |  | SOLE |  | 8083 | 0 | 0 |
| PERFORMANCE FOOD GROUP CO | COM | 71377A103 | BBG009XW2WH2 | 592573 | 6590 | SH |  | SOLE |  | 6590 | 0 | 0 |
| PETROLEO BRASILEIRO SA PETRO | SPONSORED ADR | 71654V408 | BBG000BS6HN6 | 198736 | 16771 | SH |  | SOLE |  | 16771 | 0 | 0 |
| PFIZER INC | COM | 717081103 | BBG000BR2F10 | 384307 | 15434 | SH |  | SOLE |  | 15434 | 0 | 0 |
| PHILLIPS 66 | COM | 718546104 | BBG002VX6CQ7 | 224013 | 1736 | SH |  | SOLE |  | 1736 | 0 | 0 |
| PILGRIMS PRIDE CORP | COM | 72147K108 | BBG000BFLXV3 | 233979 | 6001 | SH |  | SOLE |  | 6001 | 0 | 0 |
| POOL CORP | COM | 73278L105 | BBG000BCVG28 | 401685 | 1756 | SH |  | SOLE |  | 1756 | 0 | 0 |
| PPL CORP | COM | 69351T106 | BBG000BRJP74 | 327927 | 9364 | SH |  | SOLE |  | 9364 | 0 | 0 |
| PRIMERICA INC | COM | 74164M108 | BBG000T8ZGB4 | 297114 | 1150 | SH |  | SOLE |  | 1150 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 | BBG000BR2WS4 | 1105923 | 7717 | SH |  | SOLE |  | 7717 | 0 | 0 |
| PROG HOLDINGS INC | COM NPV | 74319R101 | BBG00VSHBX62 | 209526 | 7105 | SH |  | SOLE |  | 7105 | 0 | 0 |
| PROGRESSIVE CORP | COM | 743315103 | BBG000BR39M0 | 253452 | 1113 | SH |  | SOLE |  | 1113 | 0 | 0 |
| PTC INC | COM | 69370C100 | BBG000C2VBB0 | 254347 | 1460 | SH |  | SOLE |  | 1460 | 0 | 0 |
| PUBLIC STORAGE OPER CO | COM | 74460D109 | BBG000BPPPX2 | 976239 | 3762 | SH |  | SOLE |  | 3762 | 0 | 0 |
| PULTE GROUP INC | COM | 745867101 | BBG000BR5699 | 336653 | 2871 | SH |  | SOLE |  | 2871 | 0 | 0 |
| QUANTA SVCS INC | COM | 74762E102 | BBG000BBLBH6 | 271385 | 643 | SH |  | SOLE |  | 643 | 0 | 0 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 | BBG000BN85Z8 | 556858 | 3209 | SH |  | SOLE |  | 3209 | 0 | 0 |
| QUINSTREET INC | COM | 74874Q100 | BBG000S9XXB8 | 159291 | 11085 | SH |  | SOLE |  | 11085 | 0 | 0 |
| RANGE RES CORP | COM | 75281A109 | BBG000FVXGF6 | 275416 | 7811 | SH |  | SOLE |  | 7811 | 0 | 0 |
| RAYMOND JAMES FINL INC | COM | 754730109 | BBG000BS74T8 | 276054 | 1719 | SH |  | SOLE |  | 1719 | 0 | 0 |
| REINSURANCE GRP OF AMERICA I | COM NEW | 759351604 | BBG000BDLFK9 | 238455 | 1172 | SH |  | SOLE |  | 1172 | 0 | 0 |
| RENAISSANCERE HLDGS LTD | COM | G7496G103 | BBG000BFW132 | 231114 | 822 | SH |  | SOLE |  | 822 | 0 | 0 |
| REPUBLIC SVCS INC | COM | 760759100 | BBG000BPXYW5 | 1352537 | 6382 | SH |  | SOLE |  | 6382 | 0 | 0 |
| RESMED INC | COM | 761152107 | BBG000L4NCN0 | 346612 | 1439 | SH |  | SOLE |  | 1439 | 0 | 0 |
| REXFORD INDL RLTY INC | COM | 76169C100 | BBG004MB8398 | 330475 | 8535 | SH |  | SOLE |  | 8535 | 0 | 0 |
| RITHM CAPITAL CORP | COM NEW | 64828T201 | BBG004HQLTC5 | 683746 | 62729 | SH |  | SOLE |  | 62729 | 0 | 0 |
| ROCKWELL AUTOMATION INC | COM | 773903109 | BBG000BBCHL8 | 205429 | 528 | SH |  | SOLE |  | 528 | 0 | 0 |
| ROLLINS INC | COM | 775711104 | BBG000BSBD13 | 625048 | 10414 | SH |  | SOLE |  | 10414 | 0 | 0 |
| ROPER TECHNOLOGIES INC | COM | 776696106 | BBG000F1ZSN5 | 535937 | 1204 | SH |  | SOLE |  | 1204 | 0 | 0 |
| ROSS STORES INC | COM | 778296103 | BBG000BSBZH7 | 231840 | 1287 | SH |  | SOLE |  | 1287 | 0 | 0 |
| ROYALTY PHARMA PLC | SHS CLASS A | G7709Q104 | BBG00V1L5YZ5 | 430025 | 11129 | SH |  | SOLE |  | 11129 | 0 | 0 |
| RPM INTL INC | COM | 749685103 | BBG000DCPNF4 | 467064 | 4491 | SH |  | SOLE |  | 4491 | 0 | 0 |
| S  T BANCORP INC | COM | 783859101 | BBG000CKB2S4 | 240192 | 6104 | SH |  | SOLE |  | 6104 | 0 | 0 |
| SAP SE | SPON ADR | 803054204 | BBG000BDSMR0 | 292707 | 1205 | SH |  | SOLE |  | 1205 | 0 | 0 |
| SCANSOURCE INC | COM | 806037107 | BBG000BHTPZ4 | 330994 | 8474 | SH |  | SOLE |  | 8474 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 | BBG000BSM368 | 586871 | 5874 | SH |  | SOLE |  | 5874 | 0 | 0 |
| SCORPIO TANKERS INC | SHS | Y7542C130 | BBG000Q1TYC9 | 476582 | 9376 | SH |  | SOLE |  | 9376 | 0 | 0 |
| SEI INVTS CO | COM | 784117103 | BBG000BSQLT9 | 706192 | 8610 | SH |  | SOLE |  | 8610 | 0 | 0 |
| SERVICE CORP INTL | COM | 817565104 | BBG000BTHJB1 | 320145 | 4106 | SH |  | SOLE |  | 4106 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 | BBG002VH3DV7 | 326295 | 2130 | SH |  | SOLE |  | 2130 | 0 | 0 |
| SHERWIN WILLIAMS CO | COM | 824348106 | BBG000BSXT78 | 507107 | 1565 | SH |  | SOLE |  | 1565 | 0 | 0 |
| SIMPSON MFG INC | COM | 829073105 | BBG000JLCF05 | 659443 | 4084 | SH |  | SOLE |  | 4084 | 0 | 0 |
| SITEONE LANDSCAPE SUPPLY INC | COM | 82982L103 | BBG009T24F24 | 314888 | 2528 | SH |  | SOLE |  | 2528 | 0 | 0 |
| SKYWORKS SOLUTIONS INC | COM | 83088M102 | BBG000KLB4Q1 | 211980 | 3343 | SH |  | SOLE |  | 3343 | 0 | 0 |
| SMITH A O CORP | COM | 831865209 | BBG000BC1MP3 | 437261 | 6538 | SH |  | SOLE |  | 6538 | 0 | 0 |
| SOMNIGROUP INTERNATIONAL INC | COM | 88023U101 | BBG000PXGX45 | 428901 | 4804 | SH |  | SOLE |  | 4804 | 0 | 0 |
| SOUTHWEST GAS HLDGS INC | COM | 844895102 | BBG00FWPVRT0 | 352328 | 4403 | SH |  | SOLE |  | 4403 | 0 | 0 |
| SPIRE INC | COM | 84857L101 | BBG000BN6LL0 | 418627 | 5062 | SH |  | SOLE |  | 5062 | 0 | 0 |
| SPX TECHNOLOGIES INC | COM | 78473E103 | BBG000BTGFC9 | 232870 | 1164 | SH |  | SOLE |  | 1164 | 0 | 0 |
| STAG INDL INC | COM | 85254J102 | BBG000BGLH82 | 507325 | 13801 | SH |  | SOLE |  | 13801 | 0 | 0 |
| STAR BULK CARRIERS CORP. | SHS PAR | Y8162K204 | BBG000L5R950 | 780716 | 40620 | SH |  | SOLE |  | 40620 | 0 | 0 |
| STARWOOD PPTY TR INC | COM | 85571B105 | BBG000M1J3Q7 | 327926 | 18208 | SH |  | SOLE |  | 18208 | 0 | 0 |
| STATE STR CORP | COM | 857477103 | BBG000BKFCH1 | 480562 | 3725 | SH |  | SOLE |  | 3725 | 0 | 0 |
| STELLAR BANCORP INC | COM | 858927106 | BBG00HZ69KS6 | 570286 | 18432 | SH |  | SOLE |  | 18432 | 0 | 0 |
| STEPAN CO | COM | 858586100 | BBG000BSMJ63 | 206205 | 4354 | SH |  | SOLE |  | 4354 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 | BBG000DN7RP0 | 845285 | 2405 | SH |  | SOLE |  | 2405 | 0 | 0 |
| SUNSTONE HOTEL INVS INC NEW | COM | 867892101 | BBG000Q3TTW4 | 670831 | 75037 | SH |  | SOLE |  | 75037 | 0 | 0 |
| SYSCO CORP | COM | 871829107 | BBG000BTVL39 | 589815 | 8004 | SH |  | SOLE |  | 8004 | 0 | 0 |
| T-MOBILE US INC | COM | 872590104 | BBG000NDV1D4 | 460698 | 2269 | SH |  | SOLE |  | 2269 | 0 | 0 |
| TAYLOR MORRISON HOME CORP | COM | 87724P106 | BBG003PGJHT1 | 804576 | 13667 | SH |  | SOLE |  | 13667 | 0 | 0 |
| TD SYNNEX CORPORATION | COM | 87162W100 | BBG000CL9LT2 | 511233 | 3403 | SH |  | SOLE |  | 3403 | 0 | 0 |
| TE CONNECTIVITY PLC | ORD SHS | G87052109 | BBG01Q0D8ZV2 | 434544 | 1910 | SH |  | SOLE |  | 1910 | 0 | 0 |
| TEEKAY CORPORATION LTD | SHS | G8726T105 | BBG000BLCLZ2 | 118654 | 13140 | SH |  | SOLE |  | 13140 | 0 | 0 |
| TEEKAY TANKERS LTD | CL A | G8726X106 | BBG000QRN112 | 475545 | 8902 | SH |  | SOLE |  | 8902 | 0 | 0 |
| TELEDYNE TECHNOLOGIES INC | COM | 879360105 | BBG000BMTC82 | 789078 | 1545 | SH |  | SOLE |  | 1545 | 0 | 0 |
| TELEFONICA BRASIL SA | SPONSORED ADS | 87936R205 | BBG00Y6FQHP2 | 230748 | 19456 | SH |  | SOLE |  | 19456 | 0 | 0 |
| TELUS CORPORATION | COM | 87971M103 | BBG000JFY935 | 609429 | 46274 | SH |  | SOLE |  | 46274 | 0 | 0 |
| TENABLE HLDGS INC | COM | 88025T102 | BBG00LBLCD02 | 395822 | 16822 | SH |  | SOLE |  | 16822 | 0 | 0 |
| TERRENO RLTY CORP | COM | 88146M101 | BBG000PV3LG6 | 560680 | 9550 | SH |  | SOLE |  | 9550 | 0 | 0 |
| TEXAS CAP BANCSHARES INC | COM | 88224Q107 | BBG000DN4ZT1 | 361074 | 3988 | SH |  | SOLE |  | 3988 | 0 | 0 |
| TEXAS ROADHOUSE INC | COM | 882681109 | BBG000PSJMV7 | 224432 | 1352 | SH |  | SOLE |  | 1352 | 0 | 0 |
| THE REAL BROKERAGE INC | COM NEW | 75585H206 | BBG00VNNPD72 | 87279 | 23912 | SH |  | SOLE |  | 23912 | 0 | 0 |
| THOR INDS INC | COM | 885160101 | BBG000BV6SQ2 | 402569 | 3921 | SH |  | SOLE |  | 3921 | 0 | 0 |
| TOWNEBANK PORTSMOUTH VA | COM | 89214P109 | BBG000BBSC23 | 220909 | 6620 | SH |  | SOLE |  | 6620 | 0 | 0 |
| TRACTOR SUPPLY CO | COM | 892356106 | BBG000BLXZN1 | 418584 | 8370 | SH |  | SOLE |  | 8370 | 0 | 0 |
| TRI POINTE HOMES INC | COM | 87265H109 | BBG003QVLQD1 | 529011 | 16810 | SH |  | SOLE |  | 16810 | 0 | 0 |
| TRIMBLE INC | COM | 896239100 | BBG000BNPS52 | 251660 | 3212 | SH |  | SOLE |  | 3212 | 0 | 0 |
| TYLER TECHNOLOGIES INC | COM | 902252105 | BBG000BVX1N4 | 258752 | 570 | SH |  | SOLE |  | 570 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 | BBG00NW4HS14 | 228870 | 2801 | SH |  | SOLE |  | 2801 | 0 | 0 |
| UFP INDUSTRIES INC | COM | 90278Q108 | BBG000BL0T06 | 483840 | 5314 | SH |  | SOLE |  | 5314 | 0 | 0 |
| UMB FINL CORP | COM | 902788108 | BBG000DD8WX1 | 320847 | 2789 | SH |  | SOLE |  | 2789 | 0 | 0 |
| UNITED CMNTY BKS BLAIRSVLE G | COM | 90984P303 | BBG000BL7HW0 | 356907 | 11432 | SH |  | SOLE |  | 11432 | 0 | 0 |
| UNITED RENTALS INC | COM | 911363109 | BBG000BXMGQ6 | 339914 | 420 | SH |  | SOLE |  | 420 | 0 | 0 |
| UPBOUND GROUP INC | COM | 76009N100 | BBG000BHQJX3 | 207981 | 11844 | SH |  | SOLE |  | 11844 | 0 | 0 |
| URBAN EDGE PPTYS | COM | 91704F104 | BBG006BFYQT4 | 1040981 | 54246 | SH |  | SOLE |  | 54246 | 0 | 0 |
| US BANCORP DEL | COM NEW | 902973304 | BBG000FFFQT4 | 204636 | 3835 | SH |  | SOLE |  | 3835 | 0 | 0 |
| VAIL RESORTS INC | COM | 91879Q109 | BBG000BCMYM7 | 232533 | 1751 | SH |  | SOLE |  | 1751 | 0 | 0 |
| VALARIS LTD | CL A | G9460G101 | BBG010LLL1P5 | 470383 | 9333 | SH |  | SOLE |  | 9333 | 0 | 0 |
| VALLEY NATL BANCORP | COM | 919794107 | BBG000D4YTR6 | 271396 | 23236 | SH |  | SOLE |  | 23236 | 0 | 0 |
| VALMONT INDS INC | COM | 920253101 | BBG000BWBBX3 | 410769 | 1021 | SH |  | SOLE |  | 1021 | 0 | 0 |
| VEEVA SYS INC | CL A COM | 922475108 | BBG005845P91 | 271448 | 1216 | SH |  | SOLE |  | 1216 | 0 | 0 |
| VERRA MOBILITY CORP | CL A COM STK | 92511U102 | BBG00G4XQ9Z1 | 218789 | 9763 | SH |  | SOLE |  | 9763 | 0 | 0 |
| VICI PPTYS INC | COM | 925652109 | BBG00HZQTQG0 | 839944 | 29870 | SH |  | SOLE |  | 29870 | 0 | 0 |
| VIRTUS INVT PARTNERS INC | COM | 92828Q109 | BBG000DMFS62 | 207364 | 1271 | SH |  | SOLE |  | 1271 | 0 | 0 |
| VISTEON CORP | COM NEW | 92839U206 | BBG0016T3GQ0 | 342645 | 3603 | SH |  | SOLE |  | 3603 | 0 | 0 |
| VITESSE ENERGY INC | COMMON STOCK | 92852X103 | BBG01B9G0H01 | 296045 | 15371 | SH |  | SOLE |  | 15371 | 0 | 0 |
| VORNADO RLTY TR | SH BEN INT | 929042109 | BBG000BWHH82 | 364116 | 10941 | SH |  | SOLE |  | 10941 | 0 | 0 |
| VTEX | SHS CL A | G9470A102 | BBG011M1L5M0 | 88405 | 23512 | SH |  | SOLE |  | 23512 | 0 | 0 |
| VULCAN MATLS CO | COM | 929160109 | BBG000BWH016 | 1405564 | 4928 | SH |  | SOLE |  | 4928 | 0 | 0 |
| WEC ENERGY GROUP INC | COM | 92939U106 | BBG000BWP918 | 282211 | 2676 | SH |  | SOLE |  | 2676 | 0 | 0 |
| WELLTOWER INC | COM | 95040Q104 | BBG000BKY3S8 | 1003222 | 5405 | SH |  | SOLE |  | 5405 | 0 | 0 |
| WILLIAMS SONOMA INC | COM | 969904101 | BBG000FSMZ72 | 423973 | 2374 | SH |  | SOLE |  | 2374 | 0 | 0 |
| WP CAREY INC | COM | 92936U109 | BBG000BCQPL3 | 264520 | 4110 | SH |  | SOLE |  | 4110 | 0 | 0 |
| WSFS FINL CORP | COM | 929328102 | BBG000BX1C88 | 413748 | 7490 | SH |  | SOLE |  | 7490 | 0 | 0 |
| WYNDHAM HOTELS  RESORTS INC | COM | 98311A105 | BBG00JNGJ514 | 444822 | 5887 | SH |  | SOLE |  | 5887 | 0 | 0 |
| WYNN RESORTS LTD | COM | 983134107 | BBG000LD9JQ8 | 553759 | 4602 | SH |  | SOLE |  | 4602 | 0 | 0 |
| XCEL ENERGY INC | COM | 98389B100 | BBG000BCTQ65 | 367823 | 4980 | SH |  | SOLE |  | 4980 | 0 | 0 |
| XPO INC | COM | 983793100 | BBG000L5CM84 | 479898 | 3531 | SH |  | SOLE |  | 3531 | 0 | 0 |
| XYLEM INC | COM | 98419M100 | BBG00256TDP9 | 340314 | 2499 | SH |  | SOLE |  | 2499 | 0 | 0 |
| YEXT INC | COM | 98585N106 | BBG00G6QZWL8 | 86218 | 10697 | SH |  | SOLE |  | 10697 | 0 | 0 |
| ZEBRA TECHNOLOGIES CORPORATI | CL A | 989207105 | BBG000CC7LQ7 | 362287 | 1492 | SH |  | SOLE |  | 1492 | 0 | 0 |
| ZILLOW GROUP INC | CL C CAP STK | 98954M200 | BBG009NRSWJ4 | 254802 | 3735 | SH |  | SOLE |  | 3735 | 0 | 0 |
| ZURN ELKAY WATER SOLNS CORP | COM | 98983L108 | BBG001QFMKM2 | 529242 | 11384 | SH |  | SOLE |  | 11384 | 0 | 0 |

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