# EDGAR Filing Document

**Accession Number:** 0001999514
**File Stem:** 0001999514-26-000002
**Filing Date:** 2026-5
**Character Count:** 34603
**Document Hash:** a7408da156241aab68e891477e5a63fd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001999514-26-000002.hdr.sgml**: 20260511

**ACCESSION NUMBER**: 0001999514-26-000002

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260511

**DATE AS OF CHANGE**: 20260511

**EFFECTIVENESS DATE**: 20260511

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** denkapparat Operations GmbH
- **CENTRAL INDEX KEY:** 0001999514

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** 2M
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-24949
- **FILM NUMBER:** 26961086

**BUSINESS ADDRESS:**
- **STREET 1:** LEIPZIGER STRASSE 51
- **CITY:** BERLIN
- **STATE:** 2M
- **ZIP:** 10117
- **BUSINESS PHONE:** 4930233220100

**MAIL ADDRESS:**
- **STREET 1:** LEIPZIGER STRASSE 51
- **CITY:** BERLIN
- **STATE:** 2M
- **ZIP:** 10117

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**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:** denkapparat Operations GmbH<br>**Address:** LEIPZIGER STRASSE 51<br>BERLIN, 2M 10117

**Form 13F File Number:** 028-24949

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:** Florian Peters<br>**Title:** Dr<br>**Phone:** 004930233220100

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

Florian Peters  Berlin, 2M  05-11-2026<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:** 333

**Form 13F Information Table Value Total:** $241634358

      (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 |
| ABERCROMBIE  FITCH CO | CL A | 002896207 |  | 552423 | 6046 | SH |  | SOLE |  | 6046 | 0 | 0 |
| ACADIA PHARMACEUTICALS INC | COM | 004225108 |  | 279140 | 12540 | SH |  | SOLE |  | 12540 | 0 | 0 |
| ACI WORLDWIDE INC | COM | 004498101 |  | 211612 | 5160 | SH |  | SOLE |  | 5160 | 0 | 0 |
| ACUITY INC | COM | 00508Y102 |  | 427616 | 1526 | SH |  | SOLE |  | 1526 | 0 | 0 |
| ADOBE INC | COM | 00724F101 |  | 1935889 | 7964 | SH |  | SOLE |  | 7964 | 0 | 0 |
| ADT INC DEL | COM | 00090Q103 |  | 243175 | 37013 | SH |  | SOLE |  | 37013 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 245743 | 1208 | SH |  | SOLE |  | 1208 | 0 | 0 |
| AGCO CORP | COM | 001084102 |  | 504266 | 4352 | SH |  | SOLE |  | 4352 | 0 | 0 |
| AGILENT TECHNOLOGIES INC | COM | 00846U101 |  | 340116 | 2984 | SH |  | SOLE |  | 2984 | 0 | 0 |
| AGNICO EAGLE MINES LTD | COM | 008474108 |  | 1052654 | 5186 | SH |  | SOLE |  | 5186 | 0 | 0 |
| AIRBNB INC | COM CL A | 009066101 |  | 472287 | 3740 | SH |  | SOLE |  | 3740 | 0 | 0 |
| ALBERTSONS COS INC | COMMON STOCK | 013091103 |  | 1256666 | 73748 | SH |  | SOLE |  | 73748 | 0 | 0 |
| ALLISON TRANSMISSION HLDGS I | COM | 01973R101 |  | 574530 | 4908 | SH |  | SOLE |  | 4908 | 0 | 0 |
| ALLSTATE CORP | COM | 020002101 |  | 2188681 | 10556 | SH |  | SOLE |  | 10556 | 0 | 0 |
| ALNYLAM PHARMACEUTICALS INC | COM | 02043Q107 |  | 341458 | 1032 | SH |  | SOLE |  | 1032 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 741330 | 2578 | SH |  | SOLE |  | 2578 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 724306 | 10976 | SH |  | SOLE |  | 10976 | 0 | 0 |
| AMDOCS LTD | SHS | G02602103 |  | 212487 | 3256 | SH |  | SOLE |  | 3256 | 0 | 0 |
| AMERICAN INTL GROUP INC | COM NEW | 026874784 |  | 473022 | 6286 | SH |  | SOLE |  | 6286 | 0 | 0 |
| AMERIPRISE FINL INC | COM | 03076C106 |  | 454177 | 1022 | SH |  | SOLE |  | 1022 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 1609362 | 4574 | SH |  | SOLE |  | 4574 | 0 | 0 |
| AMICUS THERAPEUTIC | COM | 03152W109 |  | 316038 | 21856 | SH |  | SOLE |  | 21856 | 0 | 0 |
| AMKOR TECHNOLOGY INC | COM | 031652100 |  | 220467 | 4896 | SH |  | SOLE |  | 4896 | 0 | 0 |
| ANGLOGOLD ASHANTI PLC | COM SHS | G0378L100 |  | 403265 | 4142 | SH |  | SOLE |  | 4142 | 0 | 0 |
| APA CORPORATION | COM | 03743Q108 |  | 1585643 | 37362 | SH |  | SOLE |  | 37362 | 0 | 0 |
| APELLIS PHARMACEUTICALS INC | COM | 03753U106 |  | 536427 | 13334 | SH |  | SOLE |  | 13334 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 1618165 | 6376 | SH |  | SOLE |  | 6376 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 1336399 | 3910 | SH |  | SOLE |  | 3910 | 0 | 0 |
| ARGENX SE | SPONSORED ADR | 04016X101 |  | 293561 | 402 | SH |  | SOLE |  | 402 | 0 | 0 |
| ARROW ELECTRS INC | COM | 042735100 |  | 413021 | 2880 | SH |  | SOLE |  | 2880 | 0 | 0 |
| ASML HLDG NV | N Y REGISTRY SHS | N07059210 |  | 2657510 | 2012 | SH |  | SOLE |  | 2012 | 0 | 0 |
| ASSURANT INC | COM | 04621X108 |  | 475261 | 2182 | SH |  | SOLE |  | 2182 | 0 | 0 |
| ASTRAZENECA PLC | ORD | G0593M107 |  | 491165 | 2528 | SH |  | SOLE |  | 2528 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 557652 | 19236 | SH |  | SOLE |  | 19236 | 0 | 0 |
| AUTODESK INC | COM | 052769106 |  | 860404 | 3594 | SH |  | SOLE |  | 3594 | 0 | 0 |
| AUTOLIV INC | COM | 052800109 |  | 2080485 | 19784 | SH |  | SOLE |  | 19784 | 0 | 0 |
| AUTONATION INC | COM | 05329W102 |  | 739254 | 3786 | SH |  | SOLE |  | 3786 | 0 | 0 |
| AVISTA CORP | COM | 05379B107 |  | 355239 | 8850 | SH |  | SOLE |  | 8850 | 0 | 0 |
| AXCELIS TECHNOLOGIES INC | COM NEW | 054540208 |  | 201797 | 2168 | SH |  | SOLE |  | 2168 | 0 | 0 |
| AXOS FINANCIAL INC | COM | 05465C100 |  | 203365 | 2390 | SH |  | SOLE |  | 2390 | 0 | 0 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 783907 | 6608 | SH |  | SOLE |  | 6608 | 0 | 0 |
| BANK OZK LITTLE ROCK ARK | COM | 06417N103 |  | 953411 | 20776 | SH |  | SOLE |  | 20776 | 0 | 0 |
| BARRICK MNG CORP | COM SHS | 06849F108 |  | 552868 | 13554 | SH |  | SOLE |  | 13554 | 0 | 0 |
| BCE INC | COM NEW | 05534B760 |  | 209370 | 8300 | SH |  | SOLE |  | 8300 | 0 | 0 |
| BIOGEN INC | COM | 09062X103 |  | 1161946 | 6338 | SH |  | SOLE |  | 6338 | 0 | 0 |
| BIOMARIN PHARMACEUTICAL INC | COM | 09061G101 |  | 674378 | 11938 | SH |  | SOLE |  | 11938 | 0 | 0 |
| BIONTECH SE | SPONSORED ADS | 09075V102 |  | 415070 | 4670 | SH |  | SOLE |  | 4670 | 0 | 0 |
| BLOCK H  R INC | COM | 093671105 |  | 310862 | 9794 | SH |  | SOLE |  | 9794 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 1086263 | 258 | SH |  | SOLE |  | 258 | 0 | 0 |
| BOSTON BEER INC | CL A | 100557107 |  | 1293926 | 5616 | SH |  | SOLE |  | 5616 | 0 | 0 |
| BOYD GAMING CORP | COM | 103304101 |  | 1721342 | 20946 | SH |  | SOLE |  | 20946 | 0 | 0 |
| BRIGHTSTAR LOTTERY PLC | SHS USD | G4863A108 |  | 133311 | 10464 | SH |  | SOLE |  | 10464 | 0 | 0 |
| BRINKER INTL INC | COM | 109641100 |  | 440017 | 3082 | SH |  | SOLE |  | 3082 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 1866928 | 30782 | SH |  | SOLE |  | 30782 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 1580358 | 5106 | SH |  | SOLE |  | 5106 | 0 | 0 |
| BWX TECHNOLOGIES INC | COM | 05605H100 |  | 359084 | 1756 | SH |  | SOLE |  | 1756 | 0 | 0 |
| CAL MAINE FOODS INC | COM NEW | 128030202 |  | 968954 | 12242 | SH |  | SOLE |  | 12242 | 0 | 0 |
| CALIFORNIA RES CORP | COM STOCK | 13057Q305 |  | 223027 | 3222 | SH |  | SOLE |  | 3222 | 0 | 0 |
| CANADIAN NAT RES LTD MED TER | COM | 136385101 |  | 424290 | 8700 | SH |  | SOLE |  | 8700 | 0 | 0 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 520838 | 5068 | SH |  | SOLE |  | 5068 | 0 | 0 |
| CARLISLE COS INC | COM | 142339100 |  | 361644 | 1084 | SH |  | SOLE |  | 1084 | 0 | 0 |
| CARNIVAL CORP | COMMON STOCK | 143658300 |  | 318272 | 12298 | SH |  | SOLE |  | 12298 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 619194 | 874 | SH |  | SOLE |  | 874 | 0 | 0 |
| CDW CORP | COM | 12514G108 |  | 737738 | 6096 | SH |  | SOLE |  | 6096 | 0 | 0 |
| CENOVUS ENERGY INC | COM | 15135U109 |  | 750852 | 28302 | SH |  | SOLE |  | 28302 | 0 | 0 |
| CF INDUSTRIES HOLD | COM | 125269100 |  | 2184688 | 16826 | SH |  | SOLE |  | 16826 | 0 | 0 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 905194 | 3190 | SH |  | SOLE |  | 3190 | 0 | 0 |
| CHUBB LTD SWITZ | COM | H1467J104 |  | 2254132 | 6916 | SH |  | SOLE |  | 6916 | 0 | 0 |
| CINCINNATI FINL CORP | COM | 172062101 |  | 810353 | 5150 | SH |  | SOLE |  | 5150 | 0 | 0 |
| CINEMARK HLDGS INC | COM | 17243V102 |  | 1586910 | 55642 | SH |  | SOLE |  | 55642 | 0 | 0 |
| CIRRUS LOGIC INC | COM | 172755100 |  | 881893 | 6098 | SH |  | SOLE |  | 6098 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 767831 | 9896 | SH |  | SOLE |  | 9896 | 0 | 0 |
| CLEANSPARK INC | COM NEW | 18452B209 |  | 240220 | 28228 | SH |  | SOLE |  | 28228 | 0 | 0 |
| CLOROX CO DEL | COM | 189054109 |  | 428821 | 4138 | SH |  | SOLE |  | 4138 | 0 | 0 |
| CNO FINL GROUP INC | COM | 12621E103 |  | 309100 | 7528 | SH |  | SOLE |  | 7528 | 0 | 0 |
| CNX RES CORP | COM | 12653C108 |  | 749643 | 19446 | SH |  | SOLE |  | 19446 | 0 | 0 |
| COCA COLA CONS INC | COM | 191098102 |  | 692948 | 3614 | SH |  | SOLE |  | 3614 | 0 | 0 |
| COEUR MNG INC | COM NEW | 192108504 |  | 300846 | 16028 | SH |  | SOLE |  | 16028 | 0 | 0 |
| COGNIZANT TECHNOLOGY SOLUTIO | CL A | 192446102 |  | 565524 | 9218 | SH |  | SOLE |  | 9218 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 942644 | 11060 | SH |  | SOLE |  | 11060 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 2066316 | 71972 | SH |  | SOLE |  | 71972 | 0 | 0 |
| COMFORT SYS USA INC | COM | 199908104 |  | 1718222 | 1246 | SH |  | SOLE |  | 1246 | 0 | 0 |
| COMMERCIAL METALS CO | COM | 201723103 |  | 208493 | 3394 | SH |  | SOLE |  | 3394 | 0 | 0 |
| CONSOLIDATED EDISON INC | COM | 209115104 |  | 858583 | 7586 | SH |  | SOLE |  | 7586 | 0 | 0 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 1079400 | 7196 | SH |  | SOLE |  | 7196 | 0 | 0 |
| COVISTA INC | COM | 00737L103 |  | 340910 | 2958 | SH |  | SOLE |  | 2958 | 0 | 0 |
| CRITEO S A | SPONS ADS | 226718104 |  | 586634 | 32718 | SH |  | SOLE |  | 32718 | 0 | 0 |
| CROCS INC | COM | 227046109 |  | 641579 | 7728 | SH |  | SOLE |  | 7728 | 0 | 0 |
| CROWN HLDGS INC | COM | 228368106 |  | 1040595 | 10380 | SH |  | SOLE |  | 10380 | 0 | 0 |
| CSG SYS INTL INC | COM | 126349109 |  | 319120 | 3992 | SH |  | SOLE |  | 3992 | 0 | 0 |
| CUMMINS INC | COM | 231021106 |  | 465925 | 866 | SH |  | SOLE |  | 866 | 0 | 0 |
| CURTISS WRIGHT CORP | COM | 231561101 |  | 373254 | 548 | SH |  | SOLE |  | 548 | 0 | 0 |
| DAVITA INC | COM | 23918K108 |  | 297851 | 1938 | SH |  | SOLE |  | 1938 | 0 | 0 |
| DECKERS OUTDOOR CORP | COM | 243537107 |  | 347312 | 3470 | SH |  | SOLE |  | 3470 | 0 | 0 |
| DEUTSCHE BK AG | NAMEN AKT | D18190898 |  | 442600 | 15254 | SH |  | SOLE |  | 15254 | 0 | 0 |
| DEVON ENERGY CORP NEW | COM | 25179M103 |  | 1467130 | 29156 | SH |  | SOLE |  | 29156 | 0 | 0 |
| DILLARDS INC | CL A | 254067101 |  | 219690 | 384 | SH |  | SOLE |  | 384 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 602568 | 6252 | SH |  | SOLE |  | 6252 | 0 | 0 |
| DOCUSIGN INC | COM | 256163106 |  | 466609 | 9842 | SH |  | SOLE |  | 9842 | 0 | 0 |
| DOLLAR GEN CORP | COM | 256677105 |  | 315347 | 2656 | SH |  | SOLE |  | 2656 | 0 | 0 |
| DOMINOS PIZZA INC | COM | 25754A201 |  | 899128 | 2506 | SH |  | SOLE |  | 2506 | 0 | 0 |
| DONALDSON INC | COM | 257651109 |  | 329635 | 3884 | SH |  | SOLE |  | 3884 | 0 | 0 |
| DROPBOX INC | CL A | 26210C104 |  | 724723 | 31898 | SH |  | SOLE |  | 31898 | 0 | 0 |
| DTE ENERGY CO | COM | 233331107 |  | 964175 | 6594 | SH |  | SOLE |  | 6594 | 0 | 0 |
| DYCOM INDS INC | COM | 267475101 |  | 750825 | 2216 | SH |  | SOLE |  | 2216 | 0 | 0 |
| EBAY INC. | COM | 278642103 |  | 705405 | 7750 | SH |  | SOLE |  | 7750 | 0 | 0 |
| EDISON INTL | COM | 281020107 |  | 1802570 | 24632 | SH |  | SOLE |  | 24632 | 0 | 0 |
| ELECTRONIC ARTS INC | COM | 285512109 |  | 1058085 | 5190 | SH |  | SOLE |  | 5190 | 0 | 0 |
| ELEVANCE HEALTH INC FORMERLY | COM | 036752103 |  | 511142 | 1746 | SH |  | SOLE |  | 1746 | 0 | 0 |
| EMCOR GROUP INC | COM | 29084Q100 |  | 1405742 | 1904 | SH |  | SOLE |  | 1904 | 0 | 0 |
| ENCOMPASS HEALTH CORP | COM | 29261A100 |  | 411103 | 4250 | SH |  | SOLE |  | 4250 | 0 | 0 |
| ENERSYS | COM | 29275Y102 |  | 1057260 | 6086 | SH |  | SOLE |  | 6086 | 0 | 0 |
| ENPHASE ENERGY INC | COM | 29355A107 |  | 616303 | 16300 | SH |  | SOLE |  | 16300 | 0 | 0 |
| EOG RES INC | COM | 26875P101 |  | 1698119 | 11746 | SH |  | SOLE |  | 11746 | 0 | 0 |
| EQUITABLE HLDGS INC | COM | 29452E101 |  | 363381 | 9792 | SH |  | SOLE |  | 9792 | 0 | 0 |
| EXELIXIS INC | COM | 30161Q104 |  | 1026358 | 23930 | SH |  | SOLE |  | 23930 | 0 | 0 |
| EXELON CORP | COM | 30161N101 |  | 622358 | 12696 | SH |  | SOLE |  | 12696 | 0 | 0 |
| EXPEDIA GROUP INC | COM NEW | 30212P303 |  | 1190007 | 5154 | SH |  | SOLE |  | 5154 | 0 | 0 |
| EXPEDITORS INTL WASH INC | COM | 302130109 |  | 918104 | 6410 | SH |  | SOLE |  | 6410 | 0 | 0 |
| F5 INC | COM | 315616102 |  | 1181624 | 4084 | SH |  | SOLE |  | 4084 | 0 | 0 |
| FACTSET RESH SYS INC | COM | 303075105 |  | 670065 | 3088 | SH |  | SOLE |  | 3088 | 0 | 0 |
| FEDEX CORP | COM | 31428X106 |  | 1225259 | 3440 | SH |  | SOLE |  | 3440 | 0 | 0 |
| FERGUSON ENTERPRISES INC | COMMON STOCK NEW | 31488V107 |  | 644264 | 2762 | SH |  | SOLE |  | 2762 | 0 | 0 |
| FIDELITY NATL INFORMATION SV | COM | 31620M106 |  | 284087 | 6056 | SH |  | SOLE |  | 6056 | 0 | 0 |
| FIRST AMERN FINL CORP | COM | 31847R102 |  | 729027 | 12092 | SH |  | SOLE |  | 12092 | 0 | 0 |
| FIRST CTZNS BANCSHARES INC D | CL A | 31946M103 |  | 459857 | 244 | SH |  | SOLE |  | 244 | 0 | 0 |
| FIRST HORIZON CORPORATION | COM | 320517105 |  | 950731 | 41772 | SH |  | SOLE |  | 41772 | 0 | 0 |
| FIRST INTST BANCSYSTEM INC | COM | 32055Y201 |  | 399798 | 11970 | SH |  | SOLE |  | 11970 | 0 | 0 |
| FIRST SOLAR INC | COM | 336433107 |  | 251309 | 1274 | SH |  | SOLE |  | 1274 | 0 | 0 |
| FIRSTENERGY CORP | COM | 337932107 |  | 1304394 | 25748 | SH |  | SOLE |  | 25748 | 0 | 0 |
| FLEXTRONICS INTL LTD | ORD | Y2573F102 |  | 715478 | 10930 | SH |  | SOLE |  | 10930 | 0 | 0 |
| FLOWERS FOODS INC | COM | 343498101 |  | 111997 | 13742 | SH |  | SOLE |  | 13742 | 0 | 0 |
| FORTINET INC | COM | 34959E109 |  | 921148 | 11272 | SH |  | SOLE |  | 11272 | 0 | 0 |
| FOX CORP | CL A COM | 35137L105 |  | 1341798 | 22976 | SH |  | SOLE |  | 22976 | 0 | 0 |
| GALAPAGOS NV | SPON ADR | 36315X101 |  | 319080 | 10636 | SH |  | SOLE |  | 10636 | 0 | 0 |
| GALAXY DIGITAL INC. | CL A | 36317J209 |  | 441213 | 23914 | SH |  | SOLE |  | 23914 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 352442 | 1242 | SH |  | SOLE |  | 1242 | 0 | 0 |
| GENERAC HLDGS INC | COM | 368736104 |  | 210175 | 1076 | SH |  | SOLE |  | 1076 | 0 | 0 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 1474473 | 4296 | SH |  | SOLE |  | 4296 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 1955082 | 14028 | SH |  | SOLE |  | 14028 | 0 | 0 |
| GODADDY INC | CL A | 380237107 |  | 219737 | 2658 | SH |  | SOLE |  | 2658 | 0 | 0 |
| GRACO INC | COM | 384109104 |  | 520936 | 6154 | SH |  | SOLE |  | 6154 | 0 | 0 |
| GRANITE CONSTR INC | COM | 387328107 |  | 423176 | 3530 | SH |  | SOLE |  | 3530 | 0 | 0 |
| GRIFFON CORP | COM | 398433102 |  | 415439 | 5716 | SH |  | SOLE |  | 5716 | 0 | 0 |
| GSK PLC | SPONSORED ADR | 37733W204 |  | 1952070 | 35370 | SH |  | SOLE |  | 35370 | 0 | 0 |
| GULFPORT ENERGY CORP | COMMON SHARES | 402635502 |  | 635556 | 3004 | SH |  | SOLE |  | 3004 | 0 | 0 |
| HALLIBURTON CO | COM | 406216101 |  | 984108 | 25240 | SH |  | SOLE |  | 25240 | 0 | 0 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 |  | 1061015 | 7846 | SH |  | SOLE |  | 7846 | 0 | 0 |
| HCA HEALTHCARE INC | COM | 40412C101 |  | 1119686 | 2366 | SH |  | SOLE |  | 2366 | 0 | 0 |
| HENRY JACK  ASSOC INC | COM | 426281101 |  | 505412 | 3198 | SH |  | SOLE |  | 3198 | 0 | 0 |
| HF SINCLAIR CORP | COM | 403949100 |  | 783494 | 12558 | SH |  | SOLE |  | 12558 | 0 | 0 |
| HILLTOP HLDGS INC | COM | 432748101 |  | 644545 | 17994 | SH |  | SOLE |  | 17994 | 0 | 0 |
| HOLOGIC INC | COM | 436440101 |  | 944421 | 12494 | SH |  | SOLE |  | 12494 | 0 | 0 |
| HUBSPOT INC | COM | 443573100 |  | 439380 | 1800 | SH |  | SOLE |  | 1800 | 0 | 0 |
| HUMANA INC | COM | 444859102 |  | 290602 | 1676 | SH |  | SOLE |  | 1676 | 0 | 0 |
| HUNT J B TRANS SVCS INC | COM | 445658107 |  | 433971 | 2048 | SH |  | SOLE |  | 2048 | 0 | 0 |
| IDEXX LABS INC | COM | 45168D104 |  | 474235 | 844 | SH |  | SOLE |  | 844 | 0 | 0 |
| IES HOLDINGS INC | COM | 44951W106 |  | 304941 | 640 | SH |  | SOLE |  | 640 | 0 | 0 |
| ILLUMINA INC | COM | 452327109 |  | 366329 | 2972 | SH |  | SOLE |  | 2972 | 0 | 0 |
| INCYTE CORP | COM | 45337C102 |  | 1528132 | 16236 | SH |  | SOLE |  | 16236 | 0 | 0 |
| INGREDION INC | COM | 457187102 |  | 542345 | 4814 | SH |  | SOLE |  | 4814 | 0 | 0 |
| INNOVIVA INC | COM | 45781M101 |  | 545872 | 23428 | SH |  | SOLE |  | 23428 | 0 | 0 |
| INSULET CORP | COM | 45784P101 |  | 465845 | 2220 | SH |  | SOLE |  | 2220 | 0 | 0 |
| INTERDIGITAL INC | COM | 45867G101 |  | 1912264 | 6332 | SH |  | SOLE |  | 6332 | 0 | 0 |
| IONIS PHARMACEUTICALS INC | COM | 462222100 |  | 628053 | 8364 | SH |  | SOLE |  | 8364 | 0 | 0 |
| JABIL INC | COM | 466313103 |  | 1148584 | 4324 | SH |  | SOLE |  | 4324 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 1315087 | 5380 | SH |  | SOLE |  | 5380 | 0 | 0 |
| JONES LANG LASALLE INC | COM | 48020Q107 |  | 1449172 | 4762 | SH |  | SOLE |  | 4762 | 0 | 0 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 393791 | 4082 | SH |  | SOLE |  | 4082 | 0 | 0 |
| KINROSS GOLD CORP | COM | 496902404 |  | 1787251 | 58560 | SH |  | SOLE |  | 58560 | 0 | 0 |
| KLA CORP | COM NEW | 482480100 |  | 1269217 | 862 | SH |  | SOLE |  | 862 | 0 | 0 |
| KROGER CO | COM | 501044101 |  | 1534611 | 21208 | SH |  | SOLE |  | 21208 | 0 | 0 |
| KYNDRYL HLDGS INC | COMMON STOCK | 50155Q100 |  | 154003 | 11738 | SH |  | SOLE |  | 11738 | 0 | 0 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 578471 | 1676 | SH |  | SOLE |  | 1676 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 1755003 | 8214 | SH |  | SOLE |  | 8214 | 0 | 0 |
| LAS VEGAS SANDS CORP | COM | 517834107 |  | 861002 | 15980 | SH |  | SOLE |  | 15980 | 0 | 0 |
| LAUREATE ED INC | COMMON STOCK | 518613203 |  | 624263 | 17918 | SH |  | SOLE |  | 17918 | 0 | 0 |
| LEAR CORP | COM NEW | 521865204 |  | 311660 | 2574 | SH |  | SOLE |  | 2574 | 0 | 0 |
| LEIDOS HOLDINGS INC | COM | 525327102 |  | 525658 | 3380 | SH |  | SOLE |  | 3380 | 0 | 0 |
| LINCOLN ELEC HLDGS INC | COM | 533900106 |  | 239117 | 960 | SH |  | SOLE |  | 960 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 1239000 | 2050 | SH |  | SOLE |  | 2050 | 0 | 0 |
| LOEWS CORP | COM | 540424108 |  | 413724 | 3876 | SH |  | SOLE |  | 3876 | 0 | 0 |
| LOGITECH INTL S A | SHS | H50430232 |  | 2438371 | 26760 | SH |  | SOLE |  | 26760 | 0 | 0 |
| LPL FINL HLDGS INC | COM | 50212V100 |  | 336328 | 1118 | SH |  | SOLE |  | 1118 | 0 | 0 |
| M  T BK CORP | COM | 55261F104 |  | 1156392 | 5594 | SH |  | SOLE |  | 5594 | 0 | 0 |
| MANHATTAN ASSOCIATES INC | COM | 562750109 |  | 205005 | 1540 | SH |  | SOLE |  | 1540 | 0 | 0 |
| MARA HOLDINGS INC | COM | 565788106 |  | 337024 | 41302 | SH |  | SOLE |  | 41302 | 0 | 0 |
| MARATHON PETE CORP | COM | 56585A102 |  | 914210 | 3744 | SH |  | SOLE |  | 3744 | 0 | 0 |
| MARKEL GROUP INC | COM | 570535104 |  | 601018 | 314 | SH |  | SOLE |  | 314 | 0 | 0 |
| MARKETAXESS HLDGS INC | COM | 57060D108 |  | 424659 | 2574 | SH |  | SOLE |  | 2574 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 849453 | 8576 | SH |  | SOLE |  | 8576 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 472678 | 946 | SH |  | SOLE |  | 946 | 0 | 0 |
| MATSON INC | COM | 57686G105 |  | 367226 | 2240 | SH |  | SOLE |  | 2240 | 0 | 0 |
| MAXIMUS INC | COM | 577933104 |  | 254092 | 3964 | SH |  | SOLE |  | 3964 | 0 | 0 |
| MEDPACE HLDGS INC | COM | 58506Q109 |  | 711642 | 1482 | SH |  | SOLE |  | 1482 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 967613 | 8044 | SH |  | SOLE |  | 8044 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 757500 | 1324 | SH |  | SOLE |  | 1324 | 0 | 0 |
| MGIC INVT CORP WIS | COM | 552848103 |  | 414855 | 15804 | SH |  | SOLE |  | 15804 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 688518 | 2038 | SH |  | SOLE |  | 2038 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 615223 | 1662 | SH |  | SOLE |  | 1662 | 0 | 0 |
| MILLICOM INTL CELLULAR S A | COM STK | L6388F110 |  | 1113908 | 14864 | SH |  | SOLE |  | 14864 | 0 | 0 |
| MODERNA INC | COM | 60770K107 |  | 246278 | 4848 | SH |  | SOLE |  | 4848 | 0 | 0 |
| MOLSON COORS BEVERAGE CO | CL B | 60871R209 |  | 413548 | 9604 | SH |  | SOLE |  | 9604 | 0 | 0 |
| MONARCH CASINO  RESORT INC | COM | 609027107 |  | 307641 | 3218 | SH |  | SOLE |  | 3218 | 0 | 0 |
| MOODYS CORP | COM | 615369105 |  | 447593 | 1026 | SH |  | SOLE |  | 1026 | 0 | 0 |
| MOOG INC | CL A | 615394202 |  | 218895 | 748 | SH |  | SOLE |  | 748 | 0 | 0 |
| MORNINGSTAR INC | COM | 617700109 |  | 773235 | 4574 | SH |  | SOLE |  | 4574 | 0 | 0 |
| MUELLER INDS INC | COM | 624756102 |  | 1244284 | 11230 | SH |  | SOLE |  | 11230 | 0 | 0 |
| MURPHY OIL CORP | COM | 626717102 |  | 200145 | 4852 | SH |  | SOLE |  | 4852 | 0 | 0 |
| MURPHY USA INC | COM | 626755102 |  | 410983 | 832 | SH |  | SOLE |  | 832 | 0 | 0 |
| NATERA INC | COM | 632307104 |  | 726364 | 3632 | SH |  | SOLE |  | 3632 | 0 | 0 |
| NATIONAL FUEL GAS CO | COM | 636180101 |  | 1229185 | 13082 | SH |  | SOLE |  | 13082 | 0 | 0 |
| NETAPP INC | COM | 64110D104 |  | 398297 | 3890 | SH |  | SOLE |  | 3890 | 0 | 0 |
| NETFLIX INC. | COM | 64110L106 |  | 1214951 | 12636 | SH |  | SOLE |  | 12636 | 0 | 0 |
| NEUROCRINE BIOSCIENCES INC | COM | 64125C109 |  | 765936 | 5814 | SH |  | SOLE |  | 5814 | 0 | 0 |
| NEW JERSEY RES CORP | COM | 646025106 |  | 285694 | 5202 | SH |  | SOLE |  | 5202 | 0 | 0 |
| NEW YORK TIMES CO MTN BE | CL A | 650111107 |  | 337097 | 4026 | SH |  | SOLE |  | 4026 | 0 | 0 |
| NEWMARKET CORP | COM | 651587107 |  | 394825 | 616 | SH |  | SOLE |  | 616 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 1814703 | 16764 | SH |  | SOLE |  | 16764 | 0 | 0 |
| NEXTPOWER INC | CLASS A COM | 65290E101 |  | 361891 | 3002 | SH |  | SOLE |  | 3002 | 0 | 0 |
| NOKIA CORP | SPONSORED ADR | 654902204 |  | 789834 | 98238 | SH |  | SOLE |  | 98238 | 0 | 0 |
| NORTHERN TR CORP | COM | 665859104 |  | 296726 | 2126 | SH |  | SOLE |  | 2126 | 0 | 0 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 1427246 | 2092 | SH |  | SOLE |  | 2092 | 0 | 0 |
| NOV INC | COM | 62955J103 |  | 241408 | 12834 | SH |  | SOLE |  | 12834 | 0 | 0 |
| NRG ENERGY INC | COM NEW | 629377508 |  | 334368 | 2288 | SH |  | SOLE |  | 2288 | 0 | 0 |
| NUTRIEN LTD | COM | 67077M108 |  | 415181 | 5502 | SH |  | SOLE |  | 5502 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 2116170 | 12134 | SH |  | SOLE |  | 12134 | 0 | 0 |
| NVR INC | COM | 62944T105 |  | 935756 | 142 | SH |  | SOLE |  | 142 | 0 | 0 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 |  | 579556 | 2944 | SH |  | SOLE |  | 2944 | 0 | 0 |
| OFG BANCORP | COM | 67103X102 |  | 226738 | 5604 | SH |  | SOLE |  | 5604 | 0 | 0 |
| OGE ENERGY CORP | COM | 670837103 |  | 427420 | 8912 | SH |  | SOLE |  | 8912 | 0 | 0 |
| OLD REP INTL CORP | COM | 680223104 |  | 829361 | 20786 | SH |  | SOLE |  | 20786 | 0 | 0 |
| ON HLDG AG | NAMEN AKT A | H5919C104 |  | 214462 | 6304 | SH |  | SOLE |  | 6304 | 0 | 0 |
| OTTER TAIL CORP | COM | 689648103 |  | 226973 | 2586 | SH |  | SOLE |  | 2586 | 0 | 0 |
| OVINTIV INC | COM | 69047Q102 |  | 1141849 | 19236 | SH |  | SOLE |  | 19236 | 0 | 0 |
| OWENS CORNING NEW | COM | 690742101 |  | 365351 | 3376 | SH |  | SOLE |  | 3376 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 276469 | 1890 | SH |  | SOLE |  | 1890 | 0 | 0 |
| PAR PAC HOLDINGS INC | COM NEW | 69888T207 |  | 667492 | 10656 | SH |  | SOLE |  | 10656 | 0 | 0 |
| PATHWARD FINANCIAL INC | COM | 59100U108 |  | 264299 | 2962 | SH |  | SOLE |  | 2962 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 1131655 | 25020 | SH |  | SOLE |  | 25020 | 0 | 0 |
| PEGASYSTEMS INC | COM | 705573103 |  | 429430 | 10090 | SH |  | SOLE |  | 10090 | 0 | 0 |
| PENUMBRA INC | COM | 70975L107 |  | 452494 | 1378 | SH |  | SOLE |  | 1378 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 879873 | 5666 | SH |  | SOLE |  | 5666 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 620736 | 22106 | SH |  | SOLE |  | 22106 | 0 | 0 |
| PILGRIMS PRIDE CORP | COM | 72147K108 |  | 670618 | 17760 | SH |  | SOLE |  | 17760 | 0 | 0 |
| PJT PARTNERS INC | COM CL A | 69343T107 |  | 344829 | 2468 | SH |  | SOLE |  | 2468 | 0 | 0 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 1100380 | 5288 | SH |  | SOLE |  | 5288 | 0 | 0 |
| POWELL INDS INC | COM | 739128106 |  | 277033 | 512 | SH |  | SOLE |  | 512 | 0 | 0 |
| PRIMERICA INC | COM | 74164M108 |  | 208399 | 832 | SH |  | SOLE |  | 832 | 0 | 0 |
| PRIMORIS SVCS CORP | COM | 74164F103 |  | 235158 | 1644 | SH |  | SOLE |  | 1644 | 0 | 0 |
| PTC INC | COM | 69370C100 |  | 1246218 | 8746 | SH |  | SOLE |  | 8746 | 0 | 0 |
| PTC THERAPEUTICS INC | COM | 69366J200 |  | 224148 | 3290 | SH |  | SOLE |  | 3290 | 0 | 0 |
| PUBLIC SVC ENTERPRISE GROUP | COM | 744573106 |  | 1324990 | 16368 | SH |  | SOLE |  | 16368 | 0 | 0 |
| PULTE GROUP INC | COM | 745867101 |  | 582875 | 4956 | SH |  | SOLE |  | 4956 | 0 | 0 |
| QIAGEN NV | ORD SHARES | N72482156 |  | 202202 | 5050 | SH |  | SOLE |  | 5050 | 0 | 0 |
| QORVO INC | COM | 74736K101 |  | 638086 | 8244 | SH |  | SOLE |  | 8244 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 1538663 | 11948 | SH |  | SOLE |  | 11948 | 0 | 0 |
| QUALYS INC | COM | 74758T303 |  | 284283 | 3236 | SH |  | SOLE |  | 3236 | 0 | 0 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 |  | 347669 | 1774 | SH |  | SOLE |  | 1774 | 0 | 0 |
| RADIAN GROUP INC | COM | 750236101 |  | 220644 | 6670 | SH |  | SOLE |  | 6670 | 0 | 0 |
| RALPH LAUREN CORP | CL A | 751212101 |  | 373573 | 1086 | SH |  | SOLE |  | 1086 | 0 | 0 |
| RANGE RES CORP | COM | 75281A109 |  | 248942 | 5510 | SH |  | SOLE |  | 5510 | 0 | 0 |
| RAYMOND JAMES FINL INC | COM | 754730109 |  | 726267 | 5016 | SH |  | SOLE |  | 5016 | 0 | 0 |
| RED ROCK RESORTS INC | CL A | 75700L108 |  | 245669 | 4604 | SH |  | SOLE |  | 4604 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 920987 | 1192 | SH |  | SOLE |  | 1192 | 0 | 0 |
| REGIONS FINANCIAL CORP NEW | COM | 7591EP100 |  | 701740 | 26866 | SH |  | SOLE |  | 26866 | 0 | 0 |
| RESMED INC | COM | 761152107 |  | 345699 | 1540 | SH |  | SOLE |  | 1540 | 0 | 0 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 896482 | 2498 | SH |  | SOLE |  | 2498 | 0 | 0 |
| ROKU INC | COM CL A | 77543R102 |  | 461746 | 4880 | SH |  | SOLE |  | 4880 | 0 | 0 |
| ROSS STORES INC | COM | 778296103 |  | 1469185 | 6782 | SH |  | SOLE |  | 6782 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 374612 | 1942 | SH |  | SOLE |  | 1942 | 0 | 0 |
| RYDER SYS INC | COM | 783549108 |  | 1196735 | 5846 | SH |  | SOLE |  | 5846 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 284112 | 1522 | SH |  | SOLE |  | 1522 | 0 | 0 |
| SANOFI SA | SPONSORED ADR | 80105N105 |  | 1665679 | 34572 | SH |  | SOLE |  | 34572 | 0 | 0 |
| SAP SE | SPON ADR | 803054204 |  | 1154983 | 6746 | SH |  | SOLE |  | 6746 | 0 | 0 |
| SCHEIN HENRY INC | COM | 806407102 |  | 237461 | 3222 | SH |  | SOLE |  | 3222 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 396032 | 4214 | SH |  | SOLE |  | 4214 | 0 | 0 |
| SHELL PLC | SPON ADS | 780259305 |  | 1770534 | 19038 | SH |  | SOLE |  | 19038 | 0 | 0 |
| SKYWORKS SOLUTIONS INC | COM | 83088M102 |  | 562168 | 10498 | SH |  | SOLE |  | 10498 | 0 | 0 |
| SM ENERGY COMPANY | COM | 78454L100 |  | 251061 | 8052 | SH |  | SOLE |  | 8052 | 0 | 0 |
| SMITH A O CORP | COM | 831865209 |  | 649245 | 9846 | SH |  | SOLE |  | 9846 | 0 | 0 |
| SNAP ON INC | COM | 833034101 |  | 405354 | 1116 | SH |  | SOLE |  | 1116 | 0 | 0 |
| SOUTHERN COPPER CORP | COM | 84265V105 |  | 819694 | 4764 | SH |  | SOLE |  | 4764 | 0 | 0 |
| SSR MINING IN | COM | 784730103 |  | 422596 | 14374 | SH |  | SOLE |  | 14374 | 0 | 0 |
| STATE STR CORP | COM | 857477103 |  | 353609 | 2794 | SH |  | SOLE |  | 2794 | 0 | 0 |
| STERLING INFRASTRUCTURE INC | COM | 859241101 |  | 211780 | 520 | SH |  | SOLE |  | 520 | 0 | 0 |
| SUN LIFE FINANCIAL INC. | COM | 866796105 |  | 419635 | 6700 | SH |  | SOLE |  | 6700 | 0 | 0 |
| SUNBELT RENTALS HOLDINGS INC | SHS | 866966104 |  | 1246041 | 19834 | SH |  | SOLE |  | 19834 | 0 | 0 |
| SUNCOR ENERGY INC NEW | COM | 867224107 |  | 2287919 | 34600 | SH |  | SOLE |  | 34600 | 0 | 0 |
| SUPERNUS PHARMACEUTICALS | COM | 868459108 |  | 320581 | 6202 | SH |  | SOLE |  | 6202 | 0 | 0 |
| SYSCO CORP | COM | 871829107 |  | 390175 | 5470 | SH |  | SOLE |  | 5470 | 0 | 0 |
| TAKE-TWO INTERACTIVE SOFTWAR | COM | 874054109 |  | 289535 | 1466 | SH |  | SOLE |  | 1466 | 0 | 0 |
| TALEN ENERGY CORP | COM | 87422Q109 |  | 229207 | 718 | SH |  | SOLE |  | 718 | 0 | 0 |
| TAPESTRY INC | COM | 876030107 |  | 786265 | 5572 | SH |  | SOLE |  | 5572 | 0 | 0 |
| TAYLOR MORRISON HOME CORP | COM | 87724P106 |  | 391489 | 6722 | SH |  | SOLE |  | 6722 | 0 | 0 |
| TD SYNNEX CORPORATION | COM | 87162W100 |  | 286807 | 1700 | SH |  | SOLE |  | 1700 | 0 | 0 |
| TELEFLEX INCORPORATED | COM | 879369106 |  | 328688 | 2748 | SH |  | SOLE |  | 2748 | 0 | 0 |
| TELEFONAKTIEBOLAGET LM ERICS | ADR B SEK 10 | 294821608 |  | 2507147 | 222462 | SH |  | SOLE |  | 222462 | 0 | 0 |
| TENET HEALTHCARE CORP | COM NEW | 88033G407 |  | 509517 | 2700 | SH |  | SOLE |  | 2700 | 0 | 0 |
| TEXAS PACIFIC LAND CORPORATI | COM | 88262P102 |  | 313210 | 660 | SH |  | SOLE |  | 660 | 0 | 0 |
| TEXTRON INC | COM | 883203101 |  | 1083993 | 12380 | SH |  | SOLE |  | 12380 | 0 | 0 |
| THE CAMPBELLS COMPANY | COM | 134429109 |  | 248979 | 11180 | SH |  | SOLE |  | 11180 | 0 | 0 |
| THE CIGNA GROUP | COM | 125523100 |  | 927757 | 3478 | SH |  | SOLE |  | 3478 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 947660 | 5934 | SH |  | SOLE |  | 5934 | 0 | 0 |
| TOLL BROTHERS INC | COM | 889478103 |  | 671159 | 4918 | SH |  | SOLE |  | 4918 | 0 | 0 |
| TORM PLC | SHS CL A | G89479102 |  | 396515 | 14212 | SH |  | SOLE |  | 14212 | 0 | 0 |
| TORO CO | COM | 891092108 |  | 612219 | 6552 | SH |  | SOLE |  | 6552 | 0 | 0 |
| TOTALENERGIES SE | ACT | F92124100 |  | 1083192 | 11588 | SH |  | SOLE |  | 11588 | 0 | 0 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 863956 | 2962 | SH |  | SOLE |  | 2962 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 731672 | 10172 | SH |  | SOLE |  | 10172 | 0 | 0 |
| UGI CORP NEW | COM | 902681105 |  | 601221 | 16508 | SH |  | SOLE |  | 16508 | 0 | 0 |
| UIPATH INC | CL A | 90364P105 |  | 560350 | 50482 | SH |  | SOLE |  | 50482 | 0 | 0 |
| ULTA BEAUTY INC | COM | 90384S303 |  | 893834 | 1710 | SH |  | SOLE |  | 1710 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 422644 | 1742 | SH |  | SOLE |  | 1742 | 0 | 0 |
| UNITED AIRLS HLDGS INC | COM | 910047109 |  | 675978 | 7342 | SH |  | SOLE |  | 7342 | 0 | 0 |
| UNITED PARCEL SVCS INC | CL B | 911312106 |  | 857480 | 8716 | SH |  | SOLE |  | 8716 | 0 | 0 |
| UNITED THERAPEUTICS CORP DEL | COM | 91307C102 |  | 1089897 | 1838 | SH |  | SOLE |  | 1838 | 0 | 0 |
| UNIVERSAL HLTH SVCS INC | CL B | 913903100 |  | 1167242 | 6522 | SH |  | SOLE |  | 6522 | 0 | 0 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 427943 | 1732 | SH |  | SOLE |  | 1732 | 0 | 0 |
| VALMONT INDS INC | COM | 920253101 |  | 216567 | 542 | SH |  | SOLE |  | 542 | 0 | 0 |
| VERISIGN INC | COM | 92343E102 |  | 572718 | 2306 | SH |  | SOLE |  | 2306 | 0 | 0 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 342050 | 766 | SH |  | SOLE |  | 766 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 463032 | 1532 | SH |  | SOLE |  | 1532 | 0 | 0 |
| WENDYS CO | COM | 95058W100 |  | 71849 | 10338 | SH |  | SOLE |  | 10338 | 0 | 0 |
| WESTERN DIGITAL CORP | COM | 958102105 |  | 343522 | 1270 | SH |  | SOLE |  | 1270 | 0 | 0 |
| WESTERN UN CO | COM | 959802109 |  | 416316 | 47688 | SH |  | SOLE |  | 47688 | 0 | 0 |
| WILLIS TOWERS WATSON PLC LTD | SHS | G96629103 |  | 649424 | 2234 | SH |  | SOLE |  | 2234 | 0 | 0 |
| WOODWARD INC | COM | 980745103 |  | 563366 | 1574 | SH |  | SOLE |  | 1574 | 0 | 0 |
| WW GRAINGER INC | COM | 384802104 |  | 892283 | 818 | SH |  | SOLE |  | 818 | 0 | 0 |
| YELP INC | CL A | 985817105 |  | 693611 | 28036 | SH |  | SOLE |  | 28036 | 0 | 0 |
| ZIONS BANCORPORATION NATL AS | COM | 989701107 |  | 362660 | 6294 | SH |  | SOLE |  | 6294 | 0 | 0 |
| ZOETIS INC | CL A | 98978V103 |  | 289142 | 2446 | SH |  | SOLE |  | 2446 | 0 | 0 |
| ZOOM COMMUNICATIONS INC | CL A | 98980L101 |  | 1015969 | 12638 | SH |  | SOLE |  | 12638 | 0 | 0 |

---