# EDGAR Filing Document

**Accession Number:** 0001058470
**File Stem:** 0001058470-26-000003
**Filing Date:** 2026-5
**Character Count:** 18137
**Document Hash:** 4ce255053e8aa4f626d6081c864c3e5c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001058470-26-000003.hdr.sgml**: 20260513

**ACCESSION NUMBER**: 0001058470-26-000003

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260513

**DATE AS OF CHANGE**: 20260513

**EFFECTIVENESS DATE**: 20260513

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ICON ADVISERS INC/CO
- **CENTRAL INDEX KEY:** 0001058470

**ORGANIZATION NAME:**
- **EIN:** 841166639
- **STATE OF INCORPORATION:** CO
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-07066
- **FILM NUMBER:** 26973159

**BUSINESS ADDRESS:**
- **STREET 1:** 8480 ORCHARD ROAD
- **STREET 2:** SUITE 1200
- **CITY:** GREENWOOD VILLAGE
- **STATE:** CO
- **ZIP:** 80111
- **BUSINESS PHONE:** 303-790-1600

**MAIL ADDRESS:**
- **STREET 1:** 8480 ORCHARD ROAD
- **STREET 2:** SUITE 1200
- **CITY:** GREENWOOD VILLAGE
- **STATE:** CO
- **ZIP:** 80111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MERIDIAN INVESTMENT MANAGEMENT CORP/CO
- **DATE OF NAME CHANGE:** 19990330

### 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:** ICON ADVISERS INC/CO<br>**Address:** 8480 ORCHARD ROAD<br>SUITE 1200<br>GREENWOOD VILLAGE, CO 80111

**Form 13F File Number:** 028-07066

**CRD Number (if applicable):** 000108268

**SEC File Number (if applicable):** 801-38868

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:** Brian Callahan<br>**Title:** President/Chief Compliance Officer<br>**Phone:** 303-328-9252

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

Brian Callahan  Greenwood Village, CO  05-13-2026<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:** 144

**Form 13F Information Table Value Total:** $432976835

      (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 |
| AGNC INVT CORP | COM | 00123Q104 |  | 6059434 | 604131 | SH |  | SOLE |  | 0 | 0 | 604131 |
| AES CORP | COM | 00130H105 |  | 1922271 | 136428 | SH |  | SOLE |  | 0 | 0 | 136428 |
| ADOBE INC | COM | 00724F101 |  | 1431741 | 5890 | SH |  | SOLE |  | 5890 | 0 | 0 |
| ADVANCED DRAIN SYS INC DEL | COM | 00790R104 |  | 2406632 | 17550 | SH |  | SOLE |  | 17550 | 0 | 0 |
| ALAMO GROUP INC | COM | 011311107 |  | 2923268 | 17720 | SH |  | SOLE |  | 10320 | 0 | 7400 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 3585750 | 12500 | SH |  | SOLE |  | 0 | 0 | 12500 |
| AMEREN CORP | COM | 023608102 |  | 1328053 | 12082 | SH |  | SOLE |  | 0 | 0 | 12082 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 1499555 | 11440 | SH |  | SOLE |  | 0 | 0 | 11440 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 1451904 | 4800 | SH |  | SOLE |  | 0 | 0 | 4800 |
| AMGEN INC | COM | 031162100 |  | 1583325 | 4500 | SH |  | SOLE |  | 0 | 0 | 4500 |
| ANTERO RESOURCES CORP | COM | 03674X106 |  | 4753280 | 112000 | SH |  | SOLE |  | 0 | 0 | 112000 |
| ARCELORMITTAL SA LUXEMBOURG | NY REGISTRY SH | 03938L203 |  | 3378700 | 65000 | SH |  | SOLE |  | 0 | 0 | 65000 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 |  | 1817250 | 25000 | SH |  | SOLE |  | 0 | 0 | 25000 |
| ARCHROCK INC | COM | 03957W106 |  | 1740000 | 50000 | SH |  | SOLE |  | 0 | 0 | 50000 |
| ARES DYNAMIC CR ALLOCATION F | COM | 04014F102 |  | 1182402 | 97237 | SH |  | SOLE |  | 0 | 0 | 97237 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 3990350 | 32500 | SH |  | SOLE |  | 0 | 0 | 32500 |
| ARMSTRONG WORLD INDS INC NEW | COM | 04247X102 |  | 5421920 | 32900 | SH |  | SOLE |  | 20100 | 0 | 12800 |
| ARROW ELECTRS INC | COM | 042735100 |  | 3669862 | 25590 | SH |  | SOLE |  | 0 | 0 | 25590 |
| ASSURANT INC | COM | 04621X108 |  | 1032855 | 4742 | SH |  | SOLE |  | 0 | 0 | 4742 |
| ATMOS ENERGY CORP | COM | 049560105 |  | 1381706 | 7480 | SH |  | SOLE |  | 0 | 0 | 7480 |
| AUTODESK INC | COM | 052769106 |  | 2394000 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| AVNET INC | COM | 053807103 |  | 3512340 | 57000 | SH |  | SOLE |  | 0 | 0 | 57000 |
| BAKER HUGHES COMPANY | CL A | 05722G100 |  | 3910314 | 64051 | SH |  | SOLE |  | 64051 | 0 | 0 |
| BALL CORP | COM | 058498106 |  | 3493401 | 59100 | SH |  | SOLE |  | 100 | 0 | 59000 |
| BANK AMERICA CORP | COM | 060505104 |  | 4847505 | 99436 | SH |  | SOLE |  | 66948 | 0 | 32488 |
| BANK AMERICA CORP | 7.25%CNV PFD L | 060505682 |  | 8541436 | 7174 | SH |  | SOLE |  | 247 | 0 | 6927 |
| BARRICK MNG CORP | COM SHS | 06849F108 |  | 3385570 | 83000 | SH |  | SOLE |  | 0 | 0 | 83000 |
| BHP GROUP LTD | SPONSORED ADS | 088606108 |  | 4291660 | 59000 | SH |  | SOLE |  | 0 | 0 | 59000 |
| BLACKROCK FLOATING RATE INC | COM | 091941104 |  | 1108571 | 103027 | SH |  | SOLE |  | 0 | 0 | 103027 |
| BLACK HILLS CORP | COM | 092113109 |  | 779960 | 11237 | SH |  | SOLE |  | 0 | 0 | 11237 |
| BOSTON BEER INC | CL A | 100557107 |  | 580608 | 2520 | SH |  | SOLE |  | 0 | 0 | 2520 |
| BRADY CORP | CL A | 104674106 |  | 2680920 | 33000 | SH |  | SOLE |  | 0 | 0 | 33000 |
| BRINKS CO | COM | 109696104 |  | 2590750 | 25000 | SH |  | SOLE |  | 0 | 0 | 25000 |
| BRUNSWICK CORP | COM | 117043109 |  | 509538 | 7003 | SH |  | SOLE |  | 0 | 0 | 7003 |
| CDW CORP | COM | 12514G108 |  | 1428036 | 11800 | SH |  | SOLE |  | 0 | 0 | 11800 |
| CMS ENERGY CORP | COM | 125896100 |  | 946476 | 12200 | SH |  | SOLE |  | 0 | 0 | 12200 |
| CVR ENERGY INC | COM | 12662P108 |  | 5787800 | 172000 | SH |  | SOLE |  | 0 | 0 | 172000 |
| CAMECO CORP | COM | 13321L108 |  | 5430500 | 50000 | SH |  | SOLE |  | 0 | 0 | 50000 |
| CARPENTER TECHNOLOGY CORP | COM | 144285103 |  | 6306400 | 16000 | SH |  | SOLE |  | 0 | 0 | 16000 |
| CENTURY ALUM CO | COM | 156431108 |  | 10165108 | 173200 | SH |  | SOLE |  | 0 | 0 | 173200 |
| CEVA INC | COM | 157210105 |  | 1068496 | 57200 | SH |  | SOLE |  | 27700 | 0 | 29500 |
| CHEMOURS CO | COM | 163851108 |  | 6840645 | 310515 | SH |  | SOLE |  | 126615 | 0 | 183900 |
| CISCO SYS INC | COM | 17275R102 |  | 5073610 | 65390 | SH |  | SOLE |  | 0 | 0 | 65390 |
| COMPANIA DE MINAS BUENAVENTU | SPONSORED ADR | 204448104 |  | 864960 | 24000 | SH |  | SOLE |  | 0 | 0 | 24000 |
| CONSOLIDATED EDISON INC | COM | 209115104 |  | 1256298 | 11100 | SH |  | SOLE |  | 0 | 0 | 11100 |
| DTE ENERGY CO | COM | 233331107 |  | 3605639 | 24659 | SH |  | SOLE |  | 0 | 0 | 24659 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 1788312 | 26900 | SH |  | SOLE |  | 0 | 0 | 26900 |
| DELUXE CORP | COM | 248019101 |  | 2754000 | 100000 | SH |  | SOLE |  | 0 | 0 | 100000 |
| DIREXION SHS ETF TR | DLY SMCAP BULL3X | 25459W847 |  | 3830484 | 86800 | SH |  | SOLE |  | 350 | 0 | 86450 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 2812810 | 45500 | SH |  | SOLE |  | 0 | 0 | 45500 |
| DOUGLAS DYNAMICS INC | COM | 25960R105 |  | 8716839 | 207100 | SH |  | SOLE |  | 64350 | 0 | 142750 |
| EATON VANCE SR INCOME TR | SH BEN INT | 27826S103 |  | 1533781 | 307371 | SH |  | SOLE |  | 0 | 0 | 307371 |
| EATON VANCE FLTING RATE INC | COM | 278279104 |  | 1827104 | 170280 | SH |  | SOLE |  | 0 | 0 | 170280 |
| EATON VANCE SR FLTNG RTE TR | COM | 27828Q105 |  | 1147490 | 108870 | SH |  | SOLE |  | 0 | 0 | 108870 |
| EBAY INC. | COM | 278642103 |  | 4048479 | 44479 | SH |  | SOLE |  | 32499 | 0 | 11980 |
| ENCOMPASS HEALTH CORP | COM | 29261A100 |  | 3466803 | 35840 | SH |  | SOLE |  | 0 | 0 | 35840 |
| EQUITABLE HLDGS INC | COM | 29452E101 |  | 1361937 | 36700 | SH |  | SOLE |  | 0 | 0 | 36700 |
| EURONET WORLDWIDE INC | COM | 298736109 |  | 1746925 | 26321 | SH |  | SOLE |  | 14638 | 0 | 11683 |
| EVERGY INC | COM | 30034W106 |  | 3588096 | 43800 | SH |  | SOLE |  | 0 | 0 | 43800 |
| EVERSOURCE ENERGY | COM | 30040W108 |  | 1059984 | 15300 | SH |  | SOLE |  | 0 | 0 | 15300 |
| EXTREME NETWORKS | COM | 30226D106 |  | 1206400 | 80000 | SH |  | SOLE |  | 0 | 0 | 80000 |
| META PLATFORMS INC | CL A | 30303M102 |  | 3432780 | 6000 | SH |  | SOLE |  | 0 | 0 | 6000 |
| FIDELITY NATIONAL FINANCIAL | COM SHS | 31620R303 |  | 1170167 | 25230 | SH |  | SOLE |  | 4730 | 0 | 20500 |
| FRANKLIN RESOURCES INC | COM | 354613101 |  | 281078 | 11900 | SH |  | SOLE |  | 11900 | 0 | 0 |
| GILDAN ACTIVEWEAR INC | COM | 375916103 |  | 4363517 | 78410 | SH |  | SOLE |  | 33110 | 0 | 45300 |
| GSK PLC | SPONSORED ADR | 37733W204 |  | 1810232 | 32800 | SH |  | SOLE |  | 0 | 0 | 32800 |
| GLOBAL PMTS INC | COM | 37940X102 |  | 1666752 | 24766 | SH |  | SOLE |  | 12929 | 0 | 11837 |
| HF SINCLAIR CORP | COM | 403949100 |  | 9190047 | 147300 | SH |  | SOLE |  | 42300 | 0 | 105000 |
| HCA HEALTHCARE INC | COM | 40412C101 |  | 3952500 | 8352 | SH |  | SOLE |  | 0 | 0 | 8352 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 |  | 1625465 | 12020 | SH |  | SOLE |  | 0 | 0 | 12020 |
| HAVERTY FURNITURE COS INC | COM | 419596101 |  | 226626 | 10700 | SH |  | SOLE |  | 10700 | 0 | 0 |
| HORACE MANN EDUCATORS CORP N | COM | 440327104 |  | 6488939 | 152037 | SH |  | SOLE |  | 60937 | 0 | 91100 |
| HUNTINGTON BANCSHARES INC | COM | 446150104 |  | 2315731 | 147970 | SH |  | SOLE |  | 0 | 0 | 147970 |
| HUNTSMAN CORP | COM | 447011107 |  | 658845 | 49500 | SH |  | SOLE |  | 400 | 0 | 49100 |
| ING GROEP N.V. | SPONSORED ADR | 456837103 |  | 2433148 | 93403 | SH |  | SOLE |  | 0 | 0 | 93403 |
| INGREDION INC | COM | 457187102 |  | 1194196 | 10600 | SH |  | SOLE |  | 0 | 0 | 10600 |
| INSTEEL INDS INC | COM | 45774W108 |  | 3125730 | 93000 | SH |  | SOLE |  | 0 | 0 | 93000 |
| INSULET CORP | COM | 45784P101 |  | 1259040 | 6000 | SH |  | SOLE |  | 0 | 0 | 6000 |
| INTEL CORP | COM | 458140100 |  | 2096528 | 47508 | SH |  | SOLE |  | 0 | 0 | 47508 |
| INTERNATIONAL PAPER CO | COM | 460146103 |  | 3370080 | 94400 | SH |  | SOLE |  | 62700 | 0 | 31700 |
| INVESCO SR INCOME TR | COM | 46131H107 |  | 1670819 | 518888 | SH |  | SOLE |  | 0 | 0 | 518888 |
| INVESCO EXCH TRADED FD TR II | S SMLCP INFO | 46138E115 |  | 1081343 | 18000 | SH |  | SOLE |  | 0 | 0 | 18000 |
| INVESCO EXCH TRADED FD TR II | SR LN ETF | 46138G508 |  | 463981 | 22733 | SH |  | SOLE |  | 0 | 0 | 22733 |
| IRIDIUM COMMUNICATIONS INC | COM | 46269C102 |  | 2953395 | 106467 | SH |  | SOLE |  | 0 | 0 | 106467 |
| ISHARES TR | GLOBAL ENERG ETF | 464287341 |  | 1613080 | 28000 | SH |  | SOLE |  | 0 | 0 | 28000 |
| ISHARES TR | MSCI ACWI ETF | 464288257 |  | 207555 | 1500 | SH |  | SOLE |  | 0 | 0 | 1500 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 6965709 | 23680 | SH |  | SOLE |  | 16830 | 0 | 6850 |
| KAISER ALUMINUM CORP | COM PAR $0.01 | 483007704 |  | 5601546 | 46482 | SH |  | SOLE |  | 25382 | 0 | 21100 |
| KEYCORP | COM | 493267108 |  | 2626550 | 131000 | SH |  | SOLE |  | 23400 | 0 | 107600 |
| KNIGHT-SWIFT TRANSN HLDGS IN | CL A | 499049104 |  | 3166900 | 55000 | SH |  | SOLE |  | 0 | 0 | 55000 |
| KULICKE  SOFFA INDS INC | COM | 501242101 |  | 3811760 | 58000 | SH |  | SOLE |  | 0 | 0 | 58000 |
| LPL FINL HLDGS INC | COM | 50212V100 |  | 8648261 | 28748 | SH |  | SOLE |  | 17237 | 0 | 11511 |
| LAZARD INC | COM | 52110M109 |  | 2629427 | 61898 | SH |  | SOLE |  | 6655 | 0 | 55243 |
| LINCOLN NATL CORP IND | COM | 534187109 |  | 4204975 | 118450 | SH |  | SOLE |  | 70550 | 0 | 47900 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 2357121 | 3900 | SH |  | SOLE |  | 0 | 0 | 3900 |
| MKS INC. | COM | 55306N104 |  | 4136580 | 18000 | SH |  | SOLE |  | 0 | 0 | 18000 |
| MSC INDL DIRECT INC | CL A | 553530106 |  | 4279483 | 46380 | SH |  | SOLE |  | 28630 | 0 | 17750 |
| MAGNA INTL INC | COM | 559222401 |  | 2812991 | 50403 | SH |  | SOLE |  | 23303 | 0 | 27100 |
| NYLI CBRE GBL INFR MEGTRNDS | COM | 56064Q107 |  | 2159430 | 147000 | SH |  | SOLE |  | 0 | 0 | 147000 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 4425988 | 8858 | SH |  | SOLE |  | 5331 | 0 | 3527 |
| MFS INVT GRADE MUN TR | SH BEN INT | 59318B108 |  | 1928562 | 241372 | SH |  | SOLE |  | 0 | 0 | 241372 |
| MFS HIGH YIELD MUN TR | SH BEN INT | 59318E102 |  | 2619608 | 731734 | SH |  | SOLE |  | 0 | 0 | 731734 |
| NATIONAL FUEL GAS CO | COM | 636180101 |  | 6579831 | 70028 | SH |  | SOLE |  | 0 | 0 | 70028 |
| NEW JERSEY RES CORP | COM | 646025106 |  | 1081924 | 19700 | SH |  | SOLE |  | 0 | 0 | 19700 |
| NEXSTAR MEDIA GROUP INC | COMMON STOCK | 65336K103 |  | 1460202 | 8075 | SH |  | SOLE |  | 0 | 0 | 8075 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 1278215 | 13762 | SH |  | SOLE |  | 0 | 0 | 13762 |
| NISOURCE INC | COM | 65473P105 |  | 1133838 | 24300 | SH |  | SOLE |  | 0 | 0 | 24300 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 436000 | 2500 | SH |  | SOLE |  | 0 | 0 | 2500 |
| NUVEEN FLOATING RATE INCOME | COM | 67072T108 |  | 12910028 | 1716759 | SH |  | SOLE |  | 0 | 0 | 1716759 |
| NUVEEN CR STRATEGIES INCOME | COM SHS | 67073D102 |  | 1490390 | 306035 | SH |  | SOLE |  | 0 | 0 | 306035 |
| O-I GLASS INC | COM | 67098H104 |  | 2995350 | 285000 | SH |  | SOLE |  | 0 | 0 | 285000 |
| ONE GAS INC | COM | 68235P108 |  | 1085238 | 12600 | SH |  | SOLE |  | 0 | 0 | 12600 |
| ONEMAIN HLDGS INC | COM | 68268W103 |  | 1497720 | 28000 | SH |  | SOLE |  | 0 | 0 | 28000 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 2404800 | 15000 | SH |  | SOLE |  | 0 | 0 | 15000 |
| PEGASYSTEMS INC | COM | 705573103 |  | 1765942 | 41493 | SH |  | SOLE |  | 0 | 0 | 41493 |
| PHILLIPS 66 | COM | 718546104 |  | 9731509 | 53417 | SH |  | SOLE |  | 9317 | 0 | 44100 |
| PORTLAND GEN ELEC CO | COM NEW | 736508847 |  | 3180237 | 60266 | SH |  | SOLE |  | 0 | 0 | 60266 |
| POWER INTEGRATIONS INC | COM | 739276103 |  | 624640 | 12200 | SH |  | SOLE |  | 12200 | 0 | 0 |
| RH | COM | 74967X103 |  | 3101208 | 22180 | SH |  | SOLE |  | 10430 | 0 | 11750 |
| RIVERNORTH CAP AND INCM FD I | COM | 76882B108 |  | 1469346 | 100986 | SH |  | SOLE |  | 0 | 0 | 100986 |
| SPDR SERIES TRUST | BLOOMBERG SHT TE | 78468R408 |  | 1143509 | 45777 | SH |  | SOLE |  | 0 | 0 | 45777 |
| SALESFORCE INC | COM | 79466L302 |  | 2027610 | 10862 | SH |  | SOLE |  | 0 | 0 | 10862 |
| SCOTTS MIRACLE-GRO CO | CL A | 810186106 |  | 2858070 | 47000 | SH |  | SOLE |  | 0 | 0 | 47000 |
| SEMTECH CORP | COM | 816850101 |  | 1537800 | 20000 | SH |  | SOLE |  | 0 | 0 | 20000 |
| SERVICENOW INC | COM | 81762P102 |  | 1842171 | 17620 | SH |  | SOLE |  | 0 | 0 | 17620 |
| SOUTHWEST AIRLS CO | COM | 844741108 |  | 841568 | 22400 | SH |  | SOLE |  | 0 | 0 | 22400 |
| SOUTHWEST GAS HLDGS INC | COM | 844895102 |  | 2607000 | 30000 | SH |  | SOLE |  | 0 | 0 | 30000 |
| SPIRE INC | COM | 84857L101 |  | 4445514 | 49100 | SH |  | SOLE |  | 0 | 0 | 49100 |
| STANLEY BLACK  DECKER INC | COM | 854502101 |  | 4586923 | 64550 | SH |  | SOLE |  | 27350 | 0 | 37200 |
| STEEL DYNAMICS INC | COM | 858119100 |  | 1980000 | 11000 | SH |  | SOLE |  | 0 | 0 | 11000 |
| SUBURBAN PROPANE PARTNERS L | UNIT LTD PARTN | 864482104 |  | 726837 | 36914 | SH |  | SOLE |  | 0 | 0 | 36914 |
| TOTAL RETURN SECURITIES FUND | COM | 870875101 |  | 2966743 | 500294 | SH |  | SOLE |  | 0 | 0 | 500294 |
| SYNAPTICS INC | COM | 87157D109 |  | 1467338 | 20950 | SH |  | SOLE |  | 11050 | 0 | 9900 |
| TD SYNNEX CORPORATION | COM | 87162W100 |  | 3428187 | 20320 | SH |  | SOLE |  | 0 | 0 | 20320 |
| T-MOBILE US INC | COM | 872590104 |  | 623789 | 2970 | SH |  | SOLE |  | 200 | 0 | 2770 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 5643765 | 16700 | SH |  | SOLE |  | 0 | 0 | 16700 |
| 3-D SYS CORP DEL | COM NEW | 88554D205 |  | 705000 | 375000 | SH |  | SOLE |  | 0 | 0 | 375000 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 4256132 | 92585 | SH |  | SOLE |  | 53485 | 0 | 39100 |
| UNION PAC CORP | COM | 907818108 |  | 2273349 | 9370 | SH |  | SOLE |  | 9370 | 0 | 0 |
| UNIVERSAL DISPLAY CORP | COM | 91347P105 |  | 1960057 | 21384 | SH |  | SOLE |  | 0 | 0 | 21384 |
| VISA INC | COM CL A | 92826C839 |  | 1556536 | 5150 | SH |  | SOLE |  | 50 | 0 | 5100 |
| VODAFONE GROUP PLC NEW | SPONSORED ADR | 92857W308 |  | 6008466 | 400031 | SH |  | SOLE |  | 156200 | 0 | 243831 |
| ZTO EXPRESS CAYMAN INC | SPONSORED ADS A | 98980A105 |  | 6040800 | 240000 | SH |  | SOLE |  | 0 | 0 | 240000 |
| SEAGATE TECHNOLOGY HLDNGS PL | ORD SHS | G7997R103 |  | 11346545 | 28963 | SH |  | SOLE |  | 15154 | 0 | 13809 |

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