# EDGAR Filing Document

**Accession Number:** 0001367401
**File Stem:** 0001367401-23-000005
**Filing Date:** 2023-2
**Character Count:** 25638
**Document Hash:** b175f59d711b398114810c92d9fc401e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001367401-23-000005.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001367401-23-000005

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**EFFECTIVENESS DATE**: 20230214

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V.
- **CENTRAL INDEX KEY:** 0001367401
- **IRS NUMBER:** 000000000

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-15845
- **FILM NUMBER:** 23622794

**BUSINESS ADDRESS:**
- **STREET 1:** BEETHOVENSTRAAT 300
- **CITY:** AMSTERDAM
- **STATE:** P7
- **ZIP:** 1077 WZ
- **BUSINESS PHONE:** 0031203488728

**MAIL ADDRESS:**
- **STREET 1:** BEETHOVENSTRAAT 300
- **CITY:** AMSTERDAM
- **STATE:** P7
- **ZIP:** 1077 WZ

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** KEMPEN CAPITAL MANAGEMENT N.V.
- **DATE OF NAME CHANGE:** 20140211

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Kempen Capital Management N.V.
- **DATE OF NAME CHANGE:** 20060623

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**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:** VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V.<br>**Address:** BEETHOVENSTRAAT 300<br>AMSTERDAM, P7 1077 WZ

**Form 13F File Number:** 028-15845

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:** E.J.G. Jansen<br>**Title:** Managing Director<br>**Phone:** 0031735488131

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

E.J.G. Jansen  AMSTERDAM, P7  02-14-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[ ] **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).)

[x] **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:** 207

**Form 13F Information Table Value Total:** $3432581169

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

|   No. | Name                               | Form 13F File Number   | CRD Number   | SEC File Number   |
|---:|:---|:---|:---|:---|
|     1 | UBS GLOBAL ASSET MANAGEMENT UK LTD | 028-05673              |  |  |
|     2 | ALLIANCEBERNSTEIN L.P.             | 028-10562              |  |  |
|     3 | FEDERATED HERMES INC.              | 028-04375              |  |  |
|     4 | M INVESTMENT MANAGEMENT LTD        | 028-03513              |  |  |

### 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 |
| ABBOTT LABS COM | COM | 002824100 |  | 7790698 | 70960 | SH |  | SOLE |  | 70960 | 0 | 0 |
| ABERCROMBIE  FITCH CO CL A | CL A | 002896207 |  | 20187008 | 881144 | SH |  | SOLE |  | 768615 | 0 | 112529 |
| ACADIA RLTY TR COM SH BEN INT | SH BEN INT | 004239109 |  | 7027195 | 489700 | SH |  | SOLE |  | 264300 | 0 | 225400 |
| ACTIVISION BLIZZARD INC COM | COM | 00507V109 |  | 14894257 | 194569 | SH |  | SOLE |  | 194569 | 0 | 0 |
| AERCAP HOLDINGS NV SHS | SHS | N00985106 |  | 904776 | 15514 | SH |  | SOLE |  | 15514 | 0 | 0 |
| AES CORP COM | COM | 00130H105 |  | 2628233 | 91385 | SH |  | SOLE |  | 91385 | 0 | 0 |
| ALEXANDRIA REAL ESTATE EQ IN COM | COM | 015271109 |  | 18403365 | 126336 | SH |  | SOLE |  | 68133 | 0 | 58203 |
| ALPHABET INC CAP STK CL A | CL A | 02079K305 |  | 46339719 | 525215 | SH |  | SOLE |  | 525215 | 0 | 0 |
| AMAZON COM INC COM | COM | 023135106 |  | 9224964 | 109821 | SH |  | SOLE |  | 109821 | 0 | 0 |
| AMEDISYS INC COM | COM | 023436108 |  | 37081067 | 443872 | SH |  | SOLE |  | 387263 | 0 | 56609 |
| AMERICAN EAGLE OUTFITTERS IN COM | COM | 02553E106 |  | 12088452 | 865935 | SH |  | SOLE |  | 754237 | 0 | 111698 |
| AMERICAN ELEC PWR CO INC COM | COM | 025537101 |  | 6345793 | 66833 | SH |  | SOLE |  | 66833 | 0 | 0 |
| AMERICAN HOMES 4 RENT CL A | CL A | 02665T306 |  | 39794234 | 1320313 | SH |  | SOLE |  | 1145013 | 0 | 175300 |
| AMERICAN TOWER CORP NEW COM | COM | 03027X100 |  | 11362899 | 53634 | SH |  | SOLE |  | 53634 | 0 | 0 |
| AMERICAN WTR WKS CO INC NEW COM | COM | 030420103 |  | 4447768 | 29181 | SH |  | SOLE |  | 29181 | 0 | 0 |
| APPLE INC COM | COM | 037833100 |  | 30191964 | 232371 | SH |  | SOLE |  | 232371 | 0 | 0 |
| APPLE HOSPITALITY REIT INC COM NEW | COM NEW | 03784Y200 |  | 184626 | 11700 | SH |  | SOLE |  | 0 | 0 | 11700 |
| APPLIED MATLS INC COM | COM | 038222105 |  | 43262331 | 444263 | SH |  | SOLE |  | 444263 | 0 | 0 |
| ARGO GROUP INTL HLDGS LTD COM | COM | G0464B107 |  | 32970253 | 1275445 | SH |  | SOLE |  | 1101045 | 0 | 174400 |
| AUTOLIV INC COM | COM | 052800109 |  | 21878906 | 285700 | SH |  | SOLE |  | 275300 | 0 | 10400 |
| AVALONBAY CMNTYS INC COM | COM | 053484101 |  | 28020329 | 173479 | SH |  | SOLE |  | 124673 | 0 | 48806 |
| BLACKROCK INC COM | COM | 09247X101 |  | 53765885 | 75873 | SH |  | SOLE |  | 74280 | 0 | 1593 |
| BOOKING HOLDINGS INC COM | COM | 09857L108 |  | 37462039 | 18589 | SH |  | SOLE |  | 18589 | 0 | 0 |
| BROADSTONE NET LEASE INC COM | COM | 11135E203 |  | 12392545 | 764500 | SH |  | SOLE |  | 414300 | 0 | 350200 |
| BRUNSWICK CORP COM | COM | 117043109 |  | 86613131 | 1201625 | SH |  | SOLE |  | 1057505 | 0 | 144120 |
| BUILDERS FIRSTSOURCE INC COM | COM | 12008R107 |  | 984359 | 15172 | SH |  | SOLE |  | 15172 | 0 | 0 |
| CABOT CORP COM | COM | 127055101 |  | 42565183 | 636822 | SH |  | SOLE |  | 557635 | 0 | 79187 |
| CANADIAN PAC RY LTD COM | COM | 13645T100 |  | 9079555 | 89861 | SH |  | SOLE |  | 89861 | 0 | 0 |
| CARDINAL HEALTH INC COM | COM | 14149Y108 |  | 24347804 | 316740 | SH |  | SOLE |  | 305757 | 0 | 10983 |
| CHENIERE ENERGY INC COM NEW | COM NEW | 16411R208 |  | 5400048 | 36010 | SH |  | SOLE |  | 36010 | 0 | 0 |
| CHESAPEAKE ENERGY CORP COM | COM | 165167735 |  | 14548362 | 154163 | SH |  | SOLE |  | 154163 | 0 | 0 |
| COMPANIA CERVECERIAS UNIDAS SPONSORED ADR | ADR | 204429104 |  | 2450121 | 186747 | SH |  | SOLE |  | 186747 | 0 | 0 |
| CISCO SYS INC COM | COM | 17275R102 |  | 61285621 | 1286432 | SH |  | SOLE |  | 1263539 | 0 | 22893 |
| CITIGROUP INC COM NEW | COM NEW | 172967424 |  | 21753187 | 480946 | SH |  | SOLE |  | 462399 | 0 | 18547 |
| CME GROUP INC COM | COM | 12572Q105 |  | 15762309 | 93734 | SH |  | SOLE |  | 93734 | 0 | 0 |
| CMS ENERGY CORP COM | COM | 125896100 |  | 5091922 | 80403 | SH |  | SOLE |  | 80403 | 0 | 0 |
| CSX CORP COM | COM | 126408103 |  | 3805026 | 122822 | SH |  | SOLE |  | 122822 | 0 | 0 |
| CUBESMART COM | COM | 229663109 |  | 13781399 | 342395 | SH |  | SOLE |  | 184309 | 0 | 158086 |
| DATADOG INC CL A COM | COM | 23804L103 |  | 8620374 | 117284 | SH |  | SOLE |  | 117284 | 0 | 0 |
| DEERE  CO COM | COM | 244199105 |  | 43194140 | 100742 | SH |  | SOLE |  | 100742 | 0 | 0 |
| DELEK US HLDGS INC NEW COM | COM | 24665A103 |  | 14967693 | 554359 | SH |  | SOLE |  | 476364 | 0 | 77995 |
| DIAMOND OFFSHORE DRILLING IN COM | COM | 25271C201 |  | 1330722 | 127954 | SH |  | SOLE |  | 127954 | 0 | 0 |
| DIAMONDROCK HOSPITALITY CO COM | COM | 252784301 |  | 24826542 | 3031324 | SH |  | SOLE |  | 2645024 | 0 | 386300 |
| DIGITAL RLTY TR INC COM | COM | 253868103 |  | 65978 | 658 | SH |  | SOLE |  | 0 | 0 | 658 |
| DOLE PLC ORD SHS | SHS | G27907107 |  | 1723490 | 178600 | SH |  | SOLE |  | 178600 | 0 | 0 |
| DOMINION ENERGY INC COM | COM | 25746U109 |  | 3348440 | 54606 | SH |  | SOLE |  | 54606 | 0 | 0 |
| EDISON INTL COM | COM | 281020107 |  | 1412046 | 22195 | SH |  | SOLE |  | 22195 | 0 | 0 |
| ENCOMPASS HEALTH CORP COM | COM | 29261A100 |  | 59421594 | 993506 | SH |  | SOLE |  | 869751 | 0 | 123755 |
| ENERSYS COM | COM | 29275Y102 |  | 67433642 | 913240 | SH |  | SOLE |  | 799652 | 0 | 113588 |
| ENHABIT INC COM | COM | 29332G102 |  | 23091075 | 1754641 | SH |  | SOLE |  | 1526964 | 0 | 227677 |
| ENTERGY CORP NEW COM | COM | 29364G103 |  | 2997563 | 26645 | SH |  | SOLE |  | 26645 | 0 | 0 |
| EPR PPTYS COM SH BEN INT | SH BEN INT | 26884U109 |  | 4186920 | 111000 | SH |  | SOLE |  | 59300 | 0 | 51700 |
| EQUINIX INC COM | COM | 29444U700 |  | 28218037 | 43079 | SH |  | SOLE |  | 25738 | 0 | 17341 |
| LAUDER ESTEE COS INC CL A | CL A | 518439104 |  | 46686858 | 188170 | SH |  | SOLE |  | 188170 | 0 | 0 |
| EXTRA SPACE STORAGE INC COM | COM | 30225T102 |  | 9366242 | 63638 | SH |  | SOLE |  | 33726 | 0 | 29912 |
| EXXON MOBIL CORP COM | COM | 30231G102 |  | 9882990 | 89601 | SH |  | SOLE |  | 89601 | 0 | 0 |
| FEDERAL RLTY INVT TR NEW SH BEN INT NEW | SH BEN INT NEW | 313745101 |  | 2370298 | 23459 | SH |  | SOLE |  | 12652 | 0 | 10807 |
| FERGUSON PLC NEW SHS | SHS | G3421J106 |  | 47156658 | 371400 | SH |  | SOLE |  | 364800 | 0 | 6600 |
| FIRST SOLAR INC COM | COM | 336433107 |  | 70126735 | 468167 | SH |  | SOLE |  | 406360 | 0 | 61807 |
| INTERNATIONAL FLAVORS COM | COM | 459506101 |  | 18764158 | 178979 | SH |  | SOLE |  | 178979 | 0 | 0 |
| GENTEX CORP COM | COM | 371901109 |  | 43850241 | 1608003 | SH |  | SOLE |  | 1406400 | 0 | 201603 |
| GILEAD SCIENCES INC COM | COM | 375558103 |  | 17663208 | 205745 | SH |  | SOLE |  | 205745 | 0 | 0 |
| GOODYEAR TIRE  RUBR CO COM | COM | 382550101 |  | 550292 | 54216 | SH |  | SOLE |  | 54216 | 0 | 0 |
| HEALTHCARE RLTY TR CL A COM | COM | 42226K105 |  | 1715223 | 89010 | SH |  | SOLE |  | 45805 | 0 | 43205 |
| HEALTHPEAK PROPERTIES INC COM | COM | 42250P103 |  | 31248502 | 1246450 | SH |  | SOLE |  | 935550 | 0 | 310900 |
| HIGHWOODS PPTYS INC COM | COM | 431284108 |  | 12227791 | 437019 | SH |  | SOLE |  | 235072 | 0 | 201947 |
| HOME DEPOT INC COM | COM | 437076102 |  | 8447044 | 26743 | SH |  | SOLE |  | 26743 | 0 | 0 |
| HOST HOTELS  RESORTS INC COM | COM | 44107P104 |  | 8946270 | 557400 | SH |  | SOLE |  | 332200 | 0 | 225200 |
| HUNTINGTON BANCSHARES INC COM | COM | 446150104 |  | 52332516 | 3711526 | SH |  | SOLE |  | 3267622 | 0 | 443904 |
| INDEPENDENCE RLTY TR INC COM | COM | 45378A106 |  | 5006526 | 296947 | SH |  | SOLE |  | 154800 | 0 | 142147 |
| INVITATION HOMES INC COM | COM | 46187W107 |  | 16527620 | 557612 | SH |  | SOLE |  | 297912 | 0 | 259700 |
| IQVIA HLDGS INC COM | COM | 46266C105 |  | 32955327 | 160844 | SH |  | SOLE |  | 160844 | 0 | 0 |
| JABIL INC COM | COM | 466313103 |  | 103098349 | 1511706 | SH |  | SOLE |  | 1331305 | 0 | 180401 |
| JPMORGAN CHASE  CO COM | COM | 46625H100 |  | 17472157 | 130292 | SH |  | SOLE |  | 130292 | 0 | 0 |
| KILROY RLTY CORP COM | COM | 49427F108 |  | 3553773 | 91900 | SH |  | SOLE |  | 50200 | 0 | 41700 |
| KINDER MORGAN INC DEL COM | COM | 49456B101 |  | 26657332 | 1474410 | SH |  | SOLE |  | 1432006 | 0 | 42404 |
| KRONOS WORLDWIDE INC COM | COM | 50105F105 |  | 19349646 | 2058473 | SH |  | SOLE |  | 1684080 | 0 | 374393 |
| LXP INDUSTRIAL TRUST COM | COM | 529043101 |  | 12783516 | 1275800 | SH |  | SOLE |  | 690900 | 0 | 584900 |
| LUXFER HLDGS PLC SHS | SHS | G5698W116 |  | 26982054 | 1966622 | SH |  | SOLE |  | 1606775 | 0 | 359847 |
| LYONDELLBASELL INDUSTRIES N SHS - A - | SHS - A - | N53745100 |  | 31585526 | 380411 | SH |  | SOLE |  | 367342 | 0 | 13069 |
| MALLINCKRODT PLC ORD SHS | SHS | G5890A102 |  | 135811 | 17524 | SH |  | SOLE |  | 17524 | 0 | 0 |
| MARSH  MCLENNAN COS INC COM | COM | 571748102 |  | 38691707 | 233815 | SH |  | SOLE |  | 233815 | 0 | 0 |
| MASTERCARD INCORPORATED CL A | CL A | 57636Q104 |  | 51644164 | 148518 | SH |  | SOLE |  | 148518 | 0 | 0 |
| MCDONALDS CORP COM | COM | 580135101 |  | 21164094 | 80310 | SH |  | SOLE |  | 80310 | 0 | 0 |
| MEDTRONIC PLC SHS | SHS | G5960L103 |  | 42155405 | 542401 | SH |  | SOLE |  | 535343 | 0 | 7058 |
| MERCK  CO INC COM | COM | 58933Y105 |  | 35471935 | 319711 | SH |  | SOLE |  | 309513 | 0 | 10198 |
| MICROSOFT CORP COM | COM | 594918104 |  | 57853937 | 241239 | SH |  | SOLE |  | 241239 | 0 | 0 |
| MUELLER WTR PRODS INC COM SER A | COM SER A | 624758108 |  | 47977935 | 4458916 | SH |  | SOLE |  | 3884268 | 0 | 574648 |
| NEXSTAR MEDIA GROUP INC COMMON STOCK | COMMON STOCK | 65336K103 |  | 24174442 | 138116 | SH |  | SOLE |  | 133544 | 0 | 4572 |
| NEXTERA ENERGY INC COM | COM | 65339F101 |  | 29570574 | 353715 | SH |  | SOLE |  | 353715 | 0 | 0 |
| NIKE INC CL B | CL B | 654106103 |  | 42291393 | 361434 | SH |  | SOLE |  | 361434 | 0 | 0 |
| NOBLE CORP PLC ORD SHS A | ORD SHS A | G65431127 |  | 1613950 | 42799 | SH |  | SOLE |  | 42799 | 0 | 0 |
| OMNICOM GROUP INC COM | COM | 681919106 |  | 24735368 | 303241 | SH |  | SOLE |  | 291807 | 0 | 11434 |
| PEPSICO INC COM | COM | 713448108 |  | 22774542 | 126063 | SH |  | SOLE |  | 121656 | 0 | 4407 |
| PG CORP COM | COM | 69331C108 |  | 1818730 | 111853 | SH |  | SOLE |  | 111853 | 0 | 0 |
| PHYSICIANS RLTY TR COM | COM | 71943U104 |  | 37845012 | 2615412 | SH |  | SOLE |  | 2283412 | 0 | 332000 |
| PPL CORP COM | COM | 69351T106 |  | 12751754 | 436405 | SH |  | SOLE |  | 410295 | 0 | 26110 |
| PROGRESS SOFTWARE CORP COM | COM | 743312100 |  | 15639803 | 310006 | SH |  | SOLE |  | 270073 | 0 | 39933 |
| PROLOGIS INC. COM | COM | 74340W103 |  | 19969895 | 177148 | SH |  | SOLE |  | 95009 | 0 | 82139 |
| PRUDENTIAL FINL INC COM | COM | 744320102 |  | 23034737 | 231598 | SH |  | SOLE |  | 223588 | 0 | 8010 |
| PTC INC COM | COM | 69370C100 |  | 21041451 | 175287 | SH |  | SOLE |  | 175287 | 0 | 0 |
| PUBLIC SVC ENTERPRISE GRP IN COM | COM | 744573106 |  | 19823419 | 323542 | SH |  | SOLE |  | 310549 | 0 | 12993 |
| PUBLIC STORAGE COM | COM | 74460D109 |  | 3266176 | 11657 | SH |  | SOLE |  | 5933 | 0 | 5724 |
| QUIDELORTHO CORP COM | COM | 219798105 |  | 57132124 | 666886 | SH |  | SOLE |  | 576914 | 0 | 89972 |
| REALTY INCOME CORP COM | COM | 756109104 |  | 4509873 | 71100 | SH |  | SOLE |  | 36300 | 0 | 34800 |
| RENAISSANCERE HLDGS LTD COM | COM | G7496G103 |  | 32767515 | 177862 | SH |  | SOLE |  | 154308 | 0 | 23554 |
| REXFORD INDL RLTY INC COM | COM | 76169C100 |  | 15159541 | 277444 | SH |  | SOLE |  | 150243 | 0 | 127201 |
| ROYAL BK CDA SUSTAINABL COM | COM | 780087102 |  | 49262554 | 386980 | SH |  | SOLE |  | 376314 | 0 | 10666 |
| S GLOBAL INC COM | COM | 78409V104 |  | 27575275 | 82329 | SH |  | SOLE |  | 82329 | 0 | 0 |
| SABRA HEALTH CARE REIT INC COM | COM | 78573L106 |  | 283404 | 22800 | SH |  | SOLE |  | 0 | 0 | 22800 |
| SALESFORCE INC COM | COM | 79466L302 |  | 21591089 | 162841 | SH |  | SOLE |  | 162841 | 0 | 0 |
| SEMPRA COM | COM | 816851109 |  | 7895912 | 51093 | SH |  | SOLE |  | 51093 | 0 | 0 |
| SIGA TECHNOLOGIES INC COM | COM | 826917106 |  | 13935092 | 1893355 | SH |  | SOLE |  | 1614308 | 0 | 279047 |
| SIMON PPTY GROUP INC NEW COM | COM | 828806109 |  | 13010205 | 110744 | SH |  | SOLE |  | 59903 | 0 | 50841 |
| SITE CTRS CORP COM | COM | 82981J109 |  | 9516922 | 696700 | SH |  | SOLE |  | 366600 | 0 | 330100 |
| SLEEP NUMBER CORP COM | COM | 83125X103 |  | 32286437 | 1242742 | SH |  | SOLE |  | 1080461 | 0 | 162281 |
| SOUTHERN CO COM | COM | 842587107 |  | 7357515 | 103032 | SH |  | SOLE |  | 103032 | 0 | 0 |
| STAG INDL INC COM | COM | 85254J102 |  | 13902993 | 430300 | SH |  | SOLE |  | 229600 | 0 | 200700 |
| STRATEGIC ED INC COM | COM | 86272C103 |  | 68639413 | 876397 | SH |  | SOLE |  | 769248 | 0 | 107149 |
| SUN CMNTYS INC COM | COM | 866674104 |  | 16538236 | 115652 | SH |  | SOLE |  | 61758 | 0 | 53894 |
| SUNSTONE HOTEL INVS INC NEW COM | COM | 867892101 |  | 10407443 | 1077375 | SH |  | SOLE |  | 935375 | 0 | 142000 |
| SYSCO CORP COM | COM | 871829107 |  | 56988505 | 745435 | SH |  | SOLE |  | 745435 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS | SPONSORED ADS | 874039100 |  | 7286463 | 97818 | SH |  | SOLE |  | 97818 | 0 | 0 |
| TARGA RES CORP COM | COM | 87612G101 |  | 3365198 | 45785 | SH |  | SOLE |  | 45785 | 0 | 0 |
| TERADATA CORP DEL COM | COM | 88076W103 |  | 45797695 | 1360597 | SH |  | SOLE |  | 1188009 | 0 | 172588 |
| TERRENO RLTY CORP COM | COM | 88146M101 |  | 10186327 | 179116 | SH |  | SOLE |  | 95200 | 0 | 83916 |
| TEXAS INSTRS INC COM | COM | 882508104 |  | 40574066 | 245576 | SH |  | SOLE |  | 239523 | 0 | 6053 |
| ST JOE CO COM | COM | 790148100 |  | 1262657 | 32669 | SH |  | SOLE |  | 32669 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC COM | COM | 883556102 |  | 35274448 | 64055 | SH |  | SOLE |  | 64055 | 0 | 0 |
| THERMON GROUP HLDGS INC COM | COM | 88362T103 |  | 60622725 | 3019060 | SH |  | SOLE |  | 2470702 | 0 | 548358 |
| TIDEWATER INC NEW COM | COM | 88642R109 |  | 4227543 | 114723 | SH |  | SOLE |  | 114723 | 0 | 0 |
| TRIPADVISOR INC COM | COM | 896945201 |  | 52702527 | 2931175 | SH |  | SOLE |  | 2562613 | 0 | 368562 |
| TRITON INTL LTD CL A | CL A | G9078F107 |  | 24672143 | 358711 | SH |  | SOLE |  | 346125 | 0 | 12586 |
| TRONOX HOLDINGS PLC SHS | SHS | G9087Q102 |  | 32282909 | 2354698 | SH |  | SOLE |  | 2034558 | 0 | 320140 |
| UNION PAC CORP COM | COM | 907818108 |  | 10218283 | 49347 | SH |  | SOLE |  | 49347 | 0 | 0 |
| UNITEDHEALTH GROUP INC COM | COM | 91324P102 |  | 12444385 | 23472 | SH |  | SOLE |  | 23472 | 0 | 0 |
| VALARIS LIMITED CL A | CL A | G9460G101 |  | 1345570 | 19899 | SH |  | SOLE |  | 19899 | 0 | 0 |
| VISA INC COM CL A | CL A | 92826C839 |  | 5748927 | 27671 | SH |  | SOLE |  | 27671 | 0 | 0 |
| DISNEY WALT CO COM | COM | 254687106 |  | 10882589 | 125260 | SH |  | SOLE |  | 125260 | 0 | 0 |
| WARNER BROS DISCOVERY INC COM SER A | COM SER A | 934423104 |  | 273185 | 28817 | SH |  | SOLE |  | 28817 | 0 | 0 |
| WEC ENERGY GROUP INC COM | COM | 92939U106 |  | 5756395 | 61395 | SH |  | SOLE |  | 61395 | 0 | 0 |
| WEST FRASER TIMBER CO LTD COM | COM | 952845105 |  | 54742792 | 559914 | SH |  | SOLE |  | 492178 | 0 | 67736 |
| WILLIAMS COS INC COM | COM | 969457100 |  | 24683060 | 750245 | SH |  | SOLE |  | 750245 | 0 | 0 |
| WINTRUST FINL CORP COM | COM | 97650W108 |  | 55943450 | 661896 | SH |  | SOLE |  | 578044 | 0 | 83852 |
| XCEL ENERGY INC COM | COM | 98389B100 |  | 4096878 | 58435 | SH |  | SOLE |  | 58435 | 0 | 0 |
| XYLEM INC COM | COM | 98419M100 |  | 19815913 | 179216 | SH |  | SOLE |  | 179216 | 0 | 0 |
| ACCENTURE PLC IRELAND SHS CLASS A | SHS CLASS A | G1151C101 |  | 3428627 | 12849 | SH |  | SOLE |  | 12849 | 0 | 0 |
| BANK AMERICA CORP COM | COM | 060505104 |  | 39810 | 1202 | SH |  | SOLE |  | 1202 | 0 | 0 |
| BEST BUY INC COM | COM | 086516101 |  | 36175 | 451 | SH |  | SOLE |  | 451 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO COM | COM | 110122108 |  | 3321860 | 46169 | SH |  | SOLE |  | 46169 | 0 | 0 |
| COCA COLA CO COM | COM | 191216100 |  | 3757315 | 59068 | SH |  | SOLE |  | 59068 | 0 | 0 |
| ELECTRONIC ARTS INC COM | COM | 285512109 |  | 3220543 | 26359 | SH |  | SOLE |  | 26359 | 0 | 0 |
| FORD MTR CO DEL COM | COM | 345370860 |  | 44368 | 3815 | SH |  | SOLE |  | 3815 | 0 | 0 |
| PACCAR INC COM | COM | 693718108 |  | 2363107 | 23877 | SH |  | SOLE |  | 23877 | 0 | 0 |
| C H ROBINSON WORLDWIDE INC COM NEW | COM NEW | 12541W209 |  | 147961 | 1616 | SH |  | SOLE |  | 1616 | 0 | 0 |
| COSTCO WHSL CORP NEW COM | COM | 22160K105 |  | 2358736 | 5167 | SH |  | SOLE |  | 5167 | 0 | 0 |
| DOLLAR TREE INC COM | COM | 256746108 |  | 2928940 | 20708 | SH |  | SOLE |  | 20708 | 0 | 0 |
| INTUIT COM | COM | 461202103 |  | 2163285 | 5558 | SH |  | SOLE |  | 5558 | 0 | 0 |
| PAYCHEX INC COM | COM | 704326107 |  | 3295656 | 28519 | SH |  | SOLE |  | 28519 | 0 | 0 |
| REGENERON PHARMACEUTICALS COM | COM | 75886F107 |  | 2926363 | 4056 | SH |  | SOLE |  | 4056 | 0 | 0 |
| VERTEX PHARMACEUTICALS INC COM | COM | 92532F100 |  | 3444568 | 11928 | SH |  | SOLE |  | 11928 | 0 | 0 |
| HERSHEY CO COM | COM | 427866108 |  | 2307132 | 9963 | SH |  | SOLE |  | 9963 | 0 | 0 |
| JOHNSON  JOHNSON COM | COM | 478160104 |  | 36920 | 209 | SH |  | SOLE |  | 209 | 0 | 0 |
| KELLOGG CO COM | COM | 487836108 |  | 55852 | 784 | SH |  | SOLE |  | 784 | 0 | 0 |
| KINROSS GOLD CORP COM | COM | 496902404 |  | 28266 | 6911 | SH |  | SOLE |  | 6911 | 0 | 0 |
| LAM RESEARCH CORP COM | COM | 512807108 |  | 3221600 | 7665 | SH |  | SOLE |  | 7665 | 0 | 0 |
| LULULEMON ATHLETICA INC COM | COM | 550021109 |  | 192548 | 601 | SH |  | SOLE |  | 601 | 0 | 0 |
| LILLY ELI  CO COM | COM | 532457108 |  | 54876 | 150 | SH |  | SOLE |  | 150 | 0 | 0 |
| LOWES COS INC COM | COM | 548661107 |  | 2082456 | 10452 | SH |  | SOLE |  | 10452 | 0 | 0 |
| MARATHON PETE CORP COM | COM | 56585A102 |  | 2951068 | 25355 | SH |  | SOLE |  | 25355 | 0 | 0 |
| MOTOROLA SOLUTIONS INC COM NEW | COM NEW | 620076307 |  | 242505 | 941 | SH |  | SOLE |  | 941 | 0 | 0 |
| NETAPP INC COM | COM | 64110D104 |  | 162162 | 2700 | SH |  | SOLE |  | 2700 | 0 | 0 |
| PULTE GROUP INC COM | COM | 745867101 |  | 53042 | 1165 | SH |  | SOLE |  | 1165 | 0 | 0 |
| QUALCOMM INC COM | COM | 747525103 |  | 36060 | 328 | SH |  | SOLE |  | 328 | 0 | 0 |
| ROGERS COMMUNICATIONS INC CL B | CL B | 775109200 |  | 141222 | 1644 | SH |  | SOLE |  | 1644 | 0 | 0 |
| SNAP ON INC COM | COM | 833034101 |  | 3414783 | 14945 | SH |  | SOLE |  | 14945 | 0 | 0 |
| VALERO ENERGY CORP COM | COM | 91913Y100 |  | 1596406 | 12584 | SH |  | SOLE |  | 12584 | 0 | 0 |
| DOLLAR GEN CORP NEW COM | COM | 256677105 |  | 149966 | 609 | SH |  | SOLE |  | 609 | 0 | 0 |
| ULTA BEAUTY INC COM | COM | 90384S303 |  | 57227 | 122 | SH |  | SOLE |  | 122 | 0 | 0 |
| CONAGRA BRANDS INC COM | COM | 205887102 |  | 167571 | 4330 | SH |  | SOLE |  | 4330 | 0 | 0 |
| BANK NOVA SCOTIA HALIFAX COM | COM | 064149107 |  | 42626 | 474 | SH |  | SOLE |  | 474 | 0 | 0 |
| WEYERHAEUSER CO MTN BE COM NEW | COM NEW | 962166104 |  | 45725 | 1475 | SH |  | SOLE |  | 1475 | 0 | 0 |
| GILDAN ACTIVEWEAR INC COM | COM | 375916103 |  | 74089 | 1474 | SH |  | SOLE |  | 1474 | 0 | 0 |
| ENBRIDGE INC COM | COM | 29250N105 |  | 4200133 | 58550 | SH |  | SOLE |  | 58550 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE IN COM | COM | 45866F104 |  | 1483657 | 14462 | SH |  | SOLE |  | 14462 | 0 | 0 |
| MERCADOLIBRE INC COM | COM | 58733R102 |  | 8462 | 10 | SH |  | SOLE |  | 10 | 0 | 0 |
| HEWLETT PACKARD ENTERPRISE C COM | COM | 42824C109 |  | 42741 | 2678 | SH |  | SOLE |  | 2678 | 0 | 0 |
| STEEL DYNAMICS INC COM | COM | 858119100 |  | 1418897 | 14523 | SH |  | SOLE |  | 14523 | 0 | 0 |
| DOVER CORP COM | COM | 260003108 |  | 1345705 | 9938 | SH |  | SOLE |  | 9938 | 0 | 0 |
| CITIZENS FINL GROUP INC COM | COM | 174610105 |  | 2306098 | 58575 | SH |  | SOLE |  | 58575 | 0 | 0 |
| LINDE PLC SHS | SHS | G5494J103 |  | 2776444 | 8512 | SH |  | SOLE |  | 8512 | 0 | 0 |
| CIGNA CORP NEW COM | COM | 125523100 |  | 22862 | 69 | SH |  | SOLE |  | 69 | 0 | 0 |
| NEWMONT CORP COM | COM | 651639106 |  | 24686 | 523 | SH |  | SOLE |  | 523 | 0 | 0 |
| MOLINA HEALTHCARE INC COM | COM | 60855R100 |  | 2256393 | 6833 | SH |  | SOLE |  | 6833 | 0 | 0 |
| ESSENTIAL UTILS INC COM | COM | 29670G102 |  | 183092 | 3836 | SH |  | SOLE |  | 3836 | 0 | 0 |
| TELUS CORPORATION COM | COM | 87971M103 |  | 85541 | 2415 | SH |  | SOLE |  | 2415 | 0 | 0 |
| EDWARDS LIFESCIENCES CORP COM | COM | 28176E108 |  | 979779 | 13132 | SH |  | SOLE |  | 13132 | 0 | 0 |
| INTERPUBLIC GROUP COS INC COM | COM | 460690100 |  | 2572465 | 77228 | SH |  | SOLE |  | 77228 | 0 | 0 |
| NVIDIA CORPORATION COM | COM | 67066G104 |  | 36243 | 248 | SH |  | SOLE |  | 248 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS COM | COM | 459200101 |  | 51425 | 365 | SH |  | SOLE |  | 365 | 0 | 0 |
| REGIONS FINANCIAL CORP NEW COM | COM | 7591EP100 |  | 3439510 | 159532 | SH |  | SOLE |  | 159532 | 0 | 0 |
| FOX CORP CL A COM | COM | 35137L105 |  | 114525 | 3771 | SH |  | SOLE |  | 3771 | 0 | 0 |
| FOX CORP CL B COM | COM | 35137L204 |  | 2218673 | 77985 | SH |  | SOLE |  | 77985 | 0 | 0 |
| ELEVANCE HEALTH INC COM | COM | 036752103 |  | 3714416 | 7241 | SH |  | SOLE |  | 7241 | 0 | 0 |
| ZOOMINFO TECHNOLOGIES INC COMMON STOCK | COMMON STOCK | 98980F104 |  | 1341401 | 44550 | SH |  | SOLE |  | 44550 | 0 | 0 |
| FACTSET RESH SYS INC COM | COM | 303075105 |  | 1722395 | 4293 | SH |  | SOLE |  | 4293 | 0 | 0 |
| FIRSTSERVICE CORP NEW COM | COM | 33767E202 |  | 2969359 | 13211 | SH |  | SOLE |  | 13211 | 0 | 0 |

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