| Number of Shares | Value | |
| COMMON STOCKS — 89.6% | ||
| TECHNOLOGY HARDWARE — 16.9% | ||
| 114,675 | Arrow Electronics, Inc.1 | $15,301,085 |
| 242,562 | Fabrinet1,2 | 38,996,693 |
| 284,626 | InterDigital, Inc. | 24,679,920 |
| 304,061 | TD SYNNEX Corp. | 30,938,207 |
| 109,915,905 | ||
| INSURANCE — 11.5% | ||
| 408,928 | American Equity Investment Life Holding Co.1 | 21,951,255 |
| 510,127 | CNO Financial Group, Inc. | 11,936,972 |
| 29,635 | Enstar Group Ltd.1,2 | 7,506,249 |
| 440,798 | Horace Mann Educators Corp. | 12,633,271 |
| 160,450 | RLI Corp. | 21,102,384 |
| 75,130,131 | ||
| MACHINERY — 7.0% | ||
| 14,871 | AGCO Corp. | 1,926,240 |
| 81,255 | CSW Industrials, Inc. | 14,595,836 |
| 112,171 | Graco, Inc. | 8,854,779 |
| 195,640 | Oshkosh Corp. | 20,313,301 |
| 45,690,156 | ||
| APPAREL & TEXTILE PRODUCTS — 5.9% | ||
| 27,860 | Deckers Outdoor Corp.1 | 14,740,447 |
| 289,865 | Levi Strauss & Co. | 3,991,441 |
| 231,226 | PVH Corp. | 19,330,494 |
| 38,062,382 | ||
| BANKING — 5.3% | ||
| 298,282 | Axos Financial, Inc.1 | 12,852,972 |
| 384,754 | ServisFirst Bancshares, Inc. | 21,561,614 |
| 34,414,586 | ||
| SEMICONDUCTORS — 4.6% | ||
| 36,153 | Qorvo, Inc.1 | 3,882,471 |
| 132,326 | Synaptics, Inc.1 | 11,583,818 |
| 534,634 | Vishay Intertechnology, Inc. | 14,670,357 |
| 30,136,646 | ||
| GAS & WATER UTILITIES — 4.2% | ||
| 321,890 | New Jersey Resources Corp. | 13,574,102 |
| 548,268 | UGI Corp. | 13,805,388 |
| 27,379,490 |
| Number of Shares | Value | |
| COMMON STOCKS (Continued) | ||
| TECHNOLOGY SERVICES — 3.8% | ||
| 239,386 | CSG Systems International, Inc. | $13,001,054 |
| 98,028 | Science Applications International Corp. | 11,533,974 |
| 24,535,028 | ||
| INDUSTRIAL SUPPORT SERVICES — 3.5% | ||
| 191,909 | MSC Industrial Direct Co., Inc. - Class A | 19,586,232 |
| 55,401 | VSE Corp. | 3,144,007 |
| 22,730,239 | ||
| FOOD — 3.4% | ||
| 229,666 | Darling Ingredients, Inc.1 | 14,184,172 |
| 174,987 | TreeHouse Foods, Inc.1 | 8,140,395 |
| 22,324,567 | ||
| INTERNET MEDIA & SERVICES — 2.4% | ||
| 278,407 | IAC, Inc.1 | 15,404,259 |
| PUBLISHING & BROADCASTING — 2.3% | ||
| 350,302 | Scholastic Corp. | 15,220,622 |
| RETAIL - CONSUMER STAPLES — 2.2% | ||
| 353,810 | Sprouts Farmers Market, Inc.1 | 14,431,910 |
| SPECIALTY FINANCE — 2.0% | ||
| 750,202 | MGIC Investment Corp. | 13,188,551 |
| SOFTWARE — 2.0% | ||
| 163,309 | Concentrix Corp. | 13,036,957 |
| CHEMICALS — 1.9% | ||
| 406,508 | Livent Corp.1 | 8,727,727 |
| 231,233 | Mativ Holdings, Inc. | 3,792,221 |
| 12,519,948 | ||
| ENGINEERING & CONSTRUCTION — 1.8% | ||
| 116,607 | MasTec, Inc.1 | 11,601,230 |
| CONSTRUCTION MATERIALS — 1.4% | ||
| 67,921 | Knife River Corp.1 | 3,495,215 |
| 284,095 | MDU Resources Group, Inc. | 5,784,174 |
| 9,279,389 |
| Number of Shares | Value | |
| COMMON STOCKS (Continued) | ||
| WHOLESALE - DISCRETIONARY — 1.4% | ||
| 447,328 | G-III Apparel Group Ltd.1 | $8,879,461 |
| WHOLESALE - CONSUMER STAPLES — 1.1% | ||
| 366,769 | United Natural Foods, Inc.1 | 7,383,060 |
| CONSUMER SERVICES — 0.9% | ||
| 200,418 | Upbound Group, Inc. | 6,136,799 |
| CONTAINERS & PACKAGING — 0.9% | ||
| 272,999 | Graphic Packaging Holding Co. | 6,071,498 |
| ELECTRICAL EQUIPMENT — 0.7% | ||
| 16,898 | Chase Corp. | 2,137,597 |
| 9,682 | Littelfuse, Inc. | 2,585,869 |
| 4,723,466 | ||
| AEROSPACE & DEFENSE — 0.7% | ||
| 93,372 | Ducommun, Inc.1 | 4,245,625 |
| HEALTH CARE FACILITIES & SVCS — 0.6% | ||
| 212,859 | Owens & Minor, Inc.1 | 3,597,317 |
| COMMERCIAL SUPPORT SERVICES — 0.3% | ||
| 12,712 | UniFirst Corp. | 2,238,965 |
| INDUSTRIAL INTERMEDIATE PRODUCTS — 0.3% | ||
| 112,678 | L B Foster Co. - Class A1 | 1,984,260 |
| REIT — 0.3% | ||
| 88,505 | Equity Commonwealth - REIT | 1,684,250 |
| MEDICAL EQUIPMENT & DEVICES — 0.2% | ||
| 20,053 | Enovis Corp.1 | 1,123,770 |
| HOME & OFFICE PRODUCTS — 0.1% | ||
| 22,373 | HNI Corp. | 732,939 |
| TOTAL COMMON STOCKS | ||
| (Cost $450,853,781) | 583,803,406 |
| Number of Shares | Value | |
| PREFERRED STOCKS — 0.0% | ||
| INDUSTRIALS — 0.0% | ||
| 6,085 | WESCO International, Inc., 10.625%3,4 | $165,938 |
| TOTAL PREFERRED STOCKS | ||
| (Cost $161,252) | 165,938 | |
| SHORT-TERM INVESTMENTS — 10.4% | ||
| MONEY MARKET INVESTMENTS — 10.4% | ||
| 67,624,567 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio, 5.14%5 | 67,624,567 |
| TOTAL SHORT-TERM INVESTMENTS | ||
| (Cost $67,624,568) | 67,624,567 | |
| TOTAL INVESTMENTS — 100.0% | ||
| (Cost $518,639,601) | 651,593,911 | |
| Liabilities in Excess of Other Assets — (0.0)% | (298,908) | |
| TOTAL NET ASSETS — 100.0% | $651,295,003 |
| REIT – Real Estate Investment Trusts |
| 1Non-income producing security. |
| 2Foreign security denominated in U.S. dollars. |
| 3Perpetual security. Maturity date is not applicable. |
| 4Variable or floating rate security. |
| 5The rate is the annualized seven-day yield at period end. |