First Eagle

Q2 2023 13F · by Kimball Brooker, portfolio manager

As of: Jun 30, 2023
Filed: Aug 9, 2023
US stock: $39.1B · prev $37.8B
Positions: 388 · prev 393
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves405 since the prior filing

+0.4 pp in · 0.0 pp out

New 25 +0.25 pp
Added 218 +0.14 pp
Trimmed 130 +0.36 pp
Exited 30 −0.36 pp

Options: 2 moves on a notional base, in the table below.

The book

Diversified · behaves like 44 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 6.3% a year, about 15.9 years per position

Low
Moderate
High

Top 5 positions21% of US stock

ORCL Oracle Corp trimmed+0.62 pp trimmed+0.625.7%
META Meta Platforms, Inc. Class A trimmed+0.94 pp trimmed+0.944.2%
XOM Exxon Mobil Corp trimmed−0.24 pp trimmed−0.243.7%
HCA HCA Healthcare, Inc. trimmed+0.33 pp trimmed+0.333.5%
CMCSA Comcast Corp trimmed+0.17 pp trimmed+0.173.5%

Positions388 in this filing · 30 exited


ORCLOracle Corp	5.71%	18,735,569	$2.2B	trimmed−9%	+0.62 pp	41 q
METAMeta Platforms, Inc. Class A	4.20%	5,729,588	$1.6B	trimmed−1%	+0.94 pp	21 q
XOMExxon Mobil Corp	3.66%	13,330,461	$1.4B	trimmed−1%	−0.24 pp	41 q
HCAHCA Healthcare, Inc.	3.54%	4,556,365	$1.4B	trimmed−1%	+0.33 pp	21 q
CMCSAComcast Corp	3.45%	32,452,337	$1.3B	trimmed−1%	+0.17 pp	41 q
SLBSLB Limited	3.43%	27,291,718	$1.3B	trimmed−1%	−0.15 pp	41 q
IMOImperial Oil Limited	3.15%	24,043,939	$1.2B	added0%	−0.08 pp	32 q
FMXFomento Economico Mexicano, S.a.b. De C.v.	3.11%	10,963,611	$1.2B	trimmed−0%	+0.34 pp	14 q
WTWWillis Towers Watson Public Limited Company	2.99%	4,964,243	$1.2B	added0%	−0.06 pp	30 q
ABEVAmbev S.a.	2.53%	311,641,579	$991M	added0%	+0.21 pp	14 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	2.34%	9,058,450	$914M	added0%	+0.11 pp	20 q
CHRWC.H. Robinson Worldwide, Inc.	2.32%	9,598,641	$906M	trimmed−3%	−0.27 pp	26 q
PMPhilip Morris International Inc.	2.27%	9,096,873	$888M	trimmed−0%	−0.08 pp	21 q
WPMWheaton Precious Metals Corp.	2.25%	20,353,517	$880M	added0%	−0.34 pp	25 q
CLColgate-Palmolive Company	2.19%	11,092,504	$855M	added0%	−0.02 pp	41 q
GOOGAlphabet Inc. Class C	2.09%	6,757,702	$817M	trimmed−0%	+0.23 pp	37 q
ELVElevance Health, Inc.	2.05%	1,805,149	$802M	added+1%	−0.14 pp	35 q
NEMNewmont Corporation	2.01%	18,452,280	$787M	added0%	−0.38 pp	41 q
UHSUniversal Health Services, Inc. Class B	1.89%	4,686,175	$739M	trimmed−1%	+0.30 pp	21 q
BNYBank of New York Mellon Corporation	1.87%	16,435,790	$732M	trimmed−2%	−0.15 pp	41 q
ABXBarrick Mining Corporation	1.83%	42,240,477	$715M	trimmed−0%	−0.25 pp	41 q
ADIAnalog Devices, Inc.	1.78%	3,574,853	$696M	added0%	−0.08 pp	34 q
TXNTexas Instruments Incorporated	1.68%	3,647,719	$657M	trimmed−0%	−0.12 pp	32 q
NOVNOV Inc.	1.52%	37,007,636	$594M	trimmed−1%	−0.30 pp	41 q
VMRKVivmark Residential	1.50%	8,888,867	$586M	added+1%	+0.11 pp	14 q
IPGPIPG Photonics Corporation	1.49%	4,297,388	$584M	trimmed−1%	+0.08 pp	20 q
GLDSPDR Gold Trust, SPDR Gold Shares	1.49%	3,313,531	$584M	added+12%	+0.06 pp	41 q
NTRNutrien Ltd.	1.39%	9,214,429	$544M	added+8%	−0.28 pp	22 q
MSFTMicrosoft Corp	1.37%	1,573,712	$536M	trimmed−30%	−0.36 pp	41 q
CMICummins Inc.	1.28%	2,047,794	$502M	trimmed−0%	−0.02 pp	31 q
BRK.ABerkshire Hathaway Inc.	1.27%	962	$498M	trimmed−1%	+0.08 pp	41 q
WYWeyerhaeuser Company	1.24%	14,427,512	$483M	trimmed−0%	+0.08 pp	41 q
MDTMedtronic plc	1.24%	5,496,031	$484M	added0%	+0.07 pp	12 q
BDXBecton, Dickinson and Co.	1.19%	1,766,922	$466M	added+2%	+0.06 pp	11 q
AXPAmerican Express Company	1.18%	2,647,145	$461M	trimmed−1%	+0.01 pp	41 q
RGLDRoyal Gold Inc	1.08%	3,675,441	$422M	added+3%	−0.14 pp	41 q
ROSTRoss Stores Inc	1.07%	3,720,124	$417M	trimmed−1%	+0.01 pp	12 q
CRMSalesforce, Inc.	1.07%	1,984,431	$419M	trimmed−0%	+0.02 pp	13 q
GOOGLAlphabet Inc. Class A	1.06%	3,469,382	$415M	trimmed−2%	+0.09 pp	31 q
FLSFlowserve Corporation	1.04%	10,936,304	$406M	trimmed−1%	+0.05 pp	34 q
XRAYDENTSPLY SIRONA Inc.	1.00%	9,735,915	$390M	trimmed−0%	−0.01 pp	21 q
EXPDExpeditors International of Washington, Inc.	0.84%	2,725,566	$330M	trimmed−1%	+0.04 pp	14 q
WMTWalmart Inc.	0.81%	2,012,255	$316M	trimmed−1%	+0.02 pp	5 q
AEMAgnico Eagle Mines Ltd.	0.80%	6,275,533	$313M	added+1%	−0.04 pp	41 q
FNVFranco-Nevada Corporation	0.80%	2,187,707	$312M	added+3%	−0.02 pp	41 q
USBU.S. Bancorp	0.77%	9,095,757	$301M	trimmed−0%	−0.10 pp	41 q
BROBrown & Brown, Inc.	0.74%	4,190,235	$288M	trimmed−13%	+0.01 pp	37 q
CCUCompania Cervecerias Unidas S.A.	0.62%	14,908,925	$242M	added+1%	+0.01 pp	37 q
KHCThe Kraft Heinz Company	0.60%	6,634,693	$236M	trimmed−0%	−0.08 pp	16 q
DEDeere & Company	0.56%	536,300	$217M	trimmed−1%	−0.03 pp	36 q
BXPBXP, Inc.	0.55%	3,735,964	$215M	trimmed−0%	+0.01 pp	13 q
SCHWThe Charles Schwab Corporation	0.52%	3,614,622	$205M	trimmed−1%	+0.01 pp	16 q
UGIUGI Corporation	0.46%	6,689,255	$180M	trimmed−9%	−0.22 pp	32 q
DEIDouglas Emmett, Inc.	0.45%	13,923,205	$175M	added0%	0.00 pp	13 q
PPGPPG Industries, Inc.	0.45%	1,184,502	$176M	trimmed−1%	+0.03 pp	14 q
FNFFidelity National Financial, Inc.	0.41%	4,406,680	$159M	added+1%	+0.01 pp	3 q
UNPUnion Pacific Corp.	0.38%	719,043	$147M	trimmed−1%	−0.01 pp	32 q
AGIAlamos Gold Inc. Class A	0.30%	9,862,689	$117M	trimmed−7%	−0.04 pp	27 q
RPMRPM International, Inc.	0.29%	1,254,638	$113M	added×4.5	+0.23 pp	7 q
NGNovaGold Resources Inc.	0.19%	18,666,286	$74M	held	—	30 q
MQ8Mag Silver Corp	0.16%	5,715,485	$64M	held	—	34 q
EPDEnterprise Products Partners L.P.	0.15%	2,186,752	$58M	trimmed−0%	0.00 pp	14 q
AUAngloGold Ashanti plc	0.10%	1,776,390	$37M	trimmed−48%	−0.12 pp	3 q
KOFCoca-Cola FEMSA, S.A.B DE C.V	0.09%	405,369	$34M	trimmed−11%	−0.01 pp	10 q
BAC.PRLBank Of America Corp	0.08%	27,761	$33M	held	—	7 q
WEPMagellan Midstream Partners	0.08%	509,796	$32M	trimmed−54%	−0.08 pp	11 q
BILState Street SPDR Bloomberg 1-3 Month T-Bill ETF	0.08%	338,617	$31M	new	+0.08 pp	new
WFC.PRLWells Fargo & Company	0.08%	28,241	$33M	held	—	7 q
ORLAOrla Mining Ltd	0.07%	6,848,655	$29M	held	—	11 q
WRBW.R. Berkley Corporation	0.05%	334,323	$20M	trimmed−77%	−0.19 pp	41 q
unresolvedUnilever Spn.Adr 1:1	0.05%	368,819	$19M	added+17%	+0.01 pp	11 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.05%	42,149	$20M	trimmed−0%	0.00 pp	12 q
0VQJLTe Connectivity Ltd	0.05%	130,279	$18M	trimmed−0%	0.00 pp	12 q
BTIBritish American Tobacco p.l.c.	0.04%	418,134	$14M	added+13%	+0.01 pp	11 q
COHRCoherent Corp.	0.04%	276,405	$14M	added+11%	+0.01 pp	4 q
HDHome Depot, Inc.	0.04%	55,873	$17M	trimmed−0%	0.00 pp	12 q
PEPPepsiCo, Inc.	0.04%	74,353	$14M	trimmed−12%	0.00 pp	12 q
SHELShell plc	0.04%	278,591	$17M	added+30%	+0.01 pp	6 q
AL1Sumisho Air Lease Corp	0.03%	247,798	$10M	added+7%	+0.01 pp	9 q
AMRCAmeresco, Inc.	0.03%	214,620	$10M	added+39%	+0.01 pp	3 q
BZHBeazer Homes USA, Inc. New	0.03%	400,343	$11M	trimmed−14%	+0.01 pp	8 q
BTGB2Gold Corp.	0.03%	3,365,522	$12M	trimmed−85%	−0.21 pp	33 q
CHEFThe Chef's Warehouse Inc	0.03%	276,576	$10M	added+34%	+0.01 pp	9 q
GNRCGenerac Holdings Inc	0.03%	70,574	$11M	added+2%	+0.01 pp	5 q
GTGoodyear Tire & Rubber	0.03%	722,273	$10M	added+26%	+0.01 pp	6 q
HRIHerc Holdings Inc.	0.03%	81,540	$11M	added+37%	+0.01 pp	9 q
IDAIDACORP, Inc.	0.03%	109,291	$11M	added+21%	0.00 pp	7 q
LADLithia Motors, Inc.	0.03%	34,669	$11M	trimmed−12%	+0.01 pp	7 q
LPXLouisiana-Pacific Corp.	0.03%	144,257	$11M	added+5%	+0.01 pp	3 q
MKSIMKS Inc.	0.03%	95,480	$10M	added+25%	+0.01 pp	6 q
ONTOOnto Innovation Inc.	0.03%	89,851	$10M	added+8%	+0.01 pp	5 q
PCRXPacira BioSciences, Inc.	0.03%	244,272	$10M	added+38%	+0.01 pp	7 q
PDCOPatterson Companies, Inc.	0.03%	312,674	$10M	added+9%	+0.01 pp	5 q
SNYSanofi	0.03%	223,673	$12M	added+17%	0.00 pp	11 q
THCTenet Healthcare Corporation New	0.03%	128,452	$10M	trimmed−7%	+0.01 pp	6 q
UCTTUltra Clean Holdings, Inc.	0.03%	254,979	$10M	added+34%	+0.01 pp	9 q
AOSLAlpha and Omega Semiconductor Limited	0.03%	338,753	$11M	added+47%	+0.01 pp	9 q
unresolvedSmart Global Holdings Inc	0.03%	344,911	$10M	added+12%	+0.02 pp	3 q
AIRAAR Corp.	0.02%	139,490	$8M	added+13%	0.00 pp	9 q
ACHCAcadia Healthcare Company, Inc.	0.02%	104,347	$8M	added×3.4	+0.01 pp	9 q
ADTNADTRAN Holdings, Inc.	0.02%	752,711	$8M	added×2.2	+0.01 pp	4 q
ASIXAdvanSix Inc.	0.02%	175,771	$6M	added+22%	+0.01 pp	9 q
AEISAdvanced Energy Industries Inc	0.02%	87,468	$10M	added+16%	0.00 pp	9 q
ALKAlaska Air Group, Inc.	0.02%	172,827	$9M	added+48%	+0.01 pp	4 q
ALGTAllegiant Travel Company	0.02%	59,314	$7M	trimmed−9%	0.00 pp	9 q
AMEDAmedisys Inc	0.02%	75,606	$7M	trimmed−25%	0.00 pp	6 q
AMKRAmkor Technology Inc	0.02%	260,779	$8M	added+24%	+0.01 pp	9 q
AHRTAH Realty Trust, Inc.	0.02%	579,332	$7M	added+16%	0.00 pp	9 q
ASTEAstec Industries Inc	0.02%	149,053	$7M	added+30%	+0.01 pp	5 q
ATROAstronics Corp	0.02%	340,999	$7M	added0%	+0.01 pp	9 q
AVNWAviat Networks, Inc.	0.02%	182,285	$6M	added+3%	0.00 pp	6 q
AZEKThe AZEK Company Inc.	0.02%	248,920	$8M	added+36%	+0.01 pp	5 q
BBarnes Group Inc	0.02%	210,146	$9M	added+29%	0.00 pp	3 q
BDCBelden Inc.	0.02%	102,163	$10M	added+17%	0.00 pp	4 q
BKHBlack Hills Corporation	0.02%	101,370	$6M	new	+0.02 pp	new
CALYCallaway Golf Company	0.02%	367,741	$7M	added+43%	+0.01 pp	6 q
CPECallon Petroleum Company	0.02%	239,942	$8M	added+26%	0.00 pp	4 q
CDNACareDx, Inc.	0.02%	724,844	$6M	added+39%	+0.01 pp	6 q
CRSCarpenter Technology Corp	0.02%	152,656	$9M	trimmed−6%	0.00 pp	9 q
CCSCentury Communities, Inc.	0.02%	87,003	$7M	trimmed−6%	0.00 pp	9 q
CAKECheesecake Factory (The)	0.02%	256,793	$9M	added+60%	+0.01 pp	8 q
CHUYChuy's Holdings, Inc.	0.02%	209,071	$9M	added+18%	0.00 pp	8 q
CIRCircor International Inc	0.02%	155,563	$9M	trimmed−28%	0.00 pp	9 q
COHUCohu Inc	0.02%	155,421	$6M	added+10%	+0.01 pp	9 q
CMCOColumbus McKinnon Corp/NY	0.02%	166,579	$7M	trimmed−3%	0.00 pp	7 q
QDELQuidelOrtho Corporation	0.02%	115,906	$10M	added+48%	0.00 pp	5 q
AORTArtivion, Inc.	0.02%	383,382	$7M	added+60%	+0.01 pp	7 q
CWCurtiss-Wright Corp.	0.02%	39,830	$7M	added+41%	+0.01 pp	8 q
DENNDenny's Corp	0.02%	568,015	$7M	added+9%	0.00 pp	5 q
DINDine Brands Global, Inc.	0.02%	112,010	$6M	new	+0.02 pp	new
DIODDiodes Inc	0.02%	66,684	$6M	added+51%	+0.01 pp	5 q
DCODucommun Incorporated	0.02%	180,463	$8M	added+30%	0.00 pp	9 q
NPOEnpro Inc.	0.02%	71,527	$10M	added+32%	+0.01 pp	9 q
EVREvercore Inc.	0.02%	59,892	$7M	added×2.0	+0.01 pp	2 q
EVBGEverbridge, Inc.	0.02%	331,462	$9M	added+71%	0.00 pp	6 q
FAFFirst American Financial Corporation	0.02%	102,905	$6M	new	+0.02 pp	new
FORMFormFactor Inc.	0.02%	221,161	$8M	added+2%	0.00 pp	9 q
1HEESH&E Equipment Services Inc	0.02%	145,913	$7M	added+67%	+0.01 pp	4 q
HLNHaleon plc	0.02%	870,646	$7M	trimmed−5%	0.00 pp	4 q
HXLHexcel Corporation	0.02%	95,157	$7M	added+43%	+0.01 pp	9 q
HUNHuntsman Corporation	0.02%	275,101	$7M	added+71%	+0.01 pp	9 q
INTTinTEST Corporation	0.02%	241,499	$6M	trimmed−29%	0.00 pp	8 q
IRWDIronwood Pharmaceuticals, Inc. - Class A	0.02%	589,889	$6M	added+20%	+0.01 pp	4 q
ITUBItau Unibanco Holding S.A.	0.02%	1,087,349	$6M	added+18%	+0.01 pp	8 q
JBLUJetBlue Airways Corp	0.02%	840,522	$7M	added+7%	0.00 pp	8 q
JBTMJBT Marel Corporation	0.02%	65,800	$8M	added+29%	+0.01 pp	2 q
KLICKulicke & Soffa Industries Inc	0.02%	120,681	$7M	added+25%	+0.01 pp	9 q
LGIHLGI Homes, Inc.	0.02%	59,101	$8M	trimmed−2%	0.00 pp	9 q
LXULsb Industries Inc	0.02%	698,045	$7M	added+61%	+0.01 pp	9 q
LYGLloyds Banking Group PLC	0.02%	3,140,016	$7M	added+17%	0.00 pp	11 q
SHOOSteven Madden Ltd	0.02%	224,860	$7M	added+51%	+0.01 pp	5 q
MTDRMatador Resources Company	0.02%	171,745	$9M	added+47%	+0.01 pp	9 q
MODModine Manufacturing Co	0.02%	233,864	$8M	added+10%	+0.01 pp	9 q
NMIHNMI Holdings Inc.	0.02%	249,672	$6M	added+66%	+0.01 pp	9 q
ORIOld Republic International Corporation	0.02%	296,430	$7M	added+30%	0.00 pp	9 q
42OPhysicians Realty Trust	0.02%	529,458	$7M	added+20%	0.00 pp	7 q
PUMPProPetro Holding Corp.	0.02%	786,103	$6M	added+26%	+0.01 pp	6 q
NXQuanex Building Products Corporation	0.02%	256,119	$7M	added+47%	+0.01 pp	7 q
RRGBRed Robin Gourmet Burgers Inc	0.02%	442,253	$6M	added×3.4	+0.02 pp	2 q
SANMSanmina Corp	0.02%	111,500	$7M	new	+0.02 pp	new
SEESealed Air Corp New	0.02%	172,434	$7M	new	+0.02 pp	new
SHOEShoe Station Group, Inc.	0.02%	327,795	$8M	added+93%	+0.01 pp	2 q
STCStewart Information Services Corporation	0.02%	234,765	$10M	added+40%	0.00 pp	9 q
TTMITTM Technologies Inc	0.02%	445,880	$6M	added+21%	+0.01 pp	7 q
TRPTC Energy Corporation	0.02%	211,346	$9M	trimmed−28%	−0.01 pp	2 q
TOLToll Brothers, Inc.	0.02%	92,148	$7M	trimmed−5%	0.00 pp	9 q
TRNTrinity Industries, Inc.	0.02%	295,851	$8M	added+87%	+0.01 pp	9 q
TG7Triumph Group Inc	0.02%	551,160	$7M	added+38%	+0.01 pp	9 q
UFIUNIFI, Inc. New	0.02%	865,218	$7M	added+19%	0.00 pp	7 q
VECOVeeco Instruments Inc	0.02%	333,262	$9M	added+14%	0.00 pp	9 q
VVXV2X, Inc.	0.02%	142,775	$7M	added+11%	+0.01 pp	3 q
WSRWhitestone REIT	0.02%	663,006	$6M	added+23%	+0.01 pp	7 q
WMBWilliams Companies Inc.	0.02%	285,862	$9M	trimmed−4%	0.00 pp	7 q
YEXTYext, Inc.	0.02%	581,723	$7M	added+23%	+0.01 pp	4 q
ZUMZZumiez Inc.	0.02%	354,562	$6M	added+86%	+0.01 pp	7 q
FNFabrinet	0.02%	57,708	$7M	added+89%	+0.01 pp	9 q
FTAIFTAI Aviation Ltd.	0.02%	252,933	$8M	added+10%	0.00 pp	7 q
ICHRIchor Holdings	0.02%	256,478	$10M	added+23%	0.00 pp	9 q
ARAYAccuray Incorporated	0.01%	631,447	$2M	added+28%	+0.01 pp	3 q
AHCOAdaptHealth Corp.	0.01%	217,466	$3M	added×2.2	+0.01 pp	5 q
ADUSAddus HomeCare Corp.	0.01%	28,609	$3M	added×2.3	+0.01 pp	8 q
AIRGAirgain, Inc.	0.01%	406,577	$2M	added+23%	+0.01 pp	4 q
ALEXAlexander & Baldwin, Inc.	0.01%	223,213	$4M	trimmed−10%	0.00 pp	9 q
unresolvedAmerican Woodmark Corporation	0.01%	45,987	$4M	added+53%	+0.01 pp	2 q
CRMTAmerica's Car Mart Inc	0.01%	22,927	$2M	trimmed−58%	0.00 pp	9 q
ABCBAmeris Bancorp	0.01%	98,495	$3M	added×2.6	+0.01 pp	6 q
ASYSAmtech Systems Inc	0.01%	413,079	$4M	added+22%	0.00 pp	9 q
ACAArcosa, Inc.	0.01%	70,429	$5M	added+41%	0.00 pp	9 q
unresolvedAssertio Holdings Inc	0.01%	1,037,604	$6M	added+21%	0.00 pp	5 q
AVTAvnet, Inc.	0.01%	83,943	$4M	trimmed−29%	0.00 pp	9 q
AXAxos Financial, Inc.	0.01%	76,158	$3M	added×5.1	+0.01 pp	9 q
RILYBRC Group Holdings, Inc.	0.01%	59,865	$3M	trimmed−15%	0.00 pp	9 q
BHEBenchmark Electronics	0.01%	113,877	$3M	new	+0.01 pp	new
BJRIBJ's Restaurants, Inc.	0.01%	143,135	$5M	added+18%	0.00 pp	8 q
BLMNBloomin' Brands, Inc.	0.01%	150,804	$4M	trimmed−6%	0.00 pp	5 q
BKDBrookdale Senior Living, Inc.	0.01%	888,349	$4M	trimmed−9%	0.00 pp	7 q
PRTSCarParts.com, Inc.	0.01%	918,304	$4M	added+16%	0.00 pp	9 q
CARSCars.com Inc.	0.01%	235,152	$5M	added+6%	0.00 pp	9 q
CVCOCavco Industries Inc.	0.01%	11,256	$3M	trimmed−24%	0.00 pp	9 q
CENXCentury Aluminum Co	0.01%	411,190	$4M	added+21%	0.00 pp	8 q
EXEExpand Energy Corporation	0.01%	25,483	$2M	trimmed−29%	0.00 pp	9 q
CDECoeur Mining, Inc.	0.01%	1,127,609	$3M	added+4%	0.00 pp	2 q
CMCCommercial Metals Company	0.01%	77,024	$4M	trimmed−16%	0.00 pp	9 q
CYHCommunity Health Systems, Inc.	0.01%	1,156,006	$5M	trimmed−16%	−0.01 pp	8 q
CMTLComtech Telecommunications	0.01%	286,679	$3M	added+64%	0.00 pp	9 q
TCSThe Container Store Group, Inc.	0.01%	673,472	$2M	added+23%	+0.01 pp	6 q
CBRLCracker Barrel Old Country Store, Inc,.	0.01%	60,009	$6M	added+53%	0.00 pp	6 q
BOOMDMC Global Inc.	0.01%	121,398	$2M	added+1%	0.00 pp	8 q
DSKEDaseke, Inc.	0.01%	583,407	$4M	added+21%	0.00 pp	9 q
DGIIDigi International Inc	0.01%	129,794	$5M	added×2.4	+0.01 pp	9 q
APPSDigital Turbine, Inc.	0.01%	392,991	$4M	trimmed−5%	0.00 pp	3 q
ESTEEarthstone Energy Inc. Class A	0.01%	383,029	$5M	added+8%	0.00 pp	9 q
ENSEnerSys, Inc.	0.01%	46,606	$5M	added+22%	0.00 pp	7 q
EHABEnhabit, Inc.	0.01%	318,688	$4M	added+40%	0.00 pp	4 q
EVEREverQuote, Inc. Class A	0.01%	508,691	$3M	added+80%	0.00 pp	3 q
MRAMEverspin Technologies, Inc	0.01%	237,331	$2M	added+41%	+0.01 pp	3 q
FISFidelity National Information Services, Inc.	0.01%	51,600	$3M	trimmed−46%	0.00 pp	6 q
GXOGXO Logistics, Inc.	0.01%	57,219	$4M	trimmed−13%	0.00 pp	6 q
ROCKGibraltar Industries, Inc.	0.01%	93,084	$6M	added+16%	0.00 pp	9 q
GHMGraham Corporation	0.01%	229,676	$3M	added×2.3	+0.01 pp	2 q
HAINHain Celestial Group Inc	0.01%	350,570	$4M	added×2.2	0.00 pp	4 q
HAYNHaynes International, Inc.	0.01%	97,292	$5M	added+6%	0.00 pp	9 q
HSTMHealthStream Inc	0.01%	186,279	$5M	added×2.2	0.00 pp	5 q
HTLDHeartland Express Inc	0.01%	183,432	$3M	trimmed−1%	0.00 pp	7 q
HLHecla Mining Company	0.01%	934,790	$5M	trimmed−7%	−0.01 pp	7 q
HSIHeidrick & Struggles Intl	0.01%	112,270	$3M	added+82%	+0.01 pp	4 q
HOSHornbeck Offshore Services, Inc.	0.01%	341,358	$3M	trimmed−2%	0.00 pp	6 q
HPHelmerich & Payne, Inc.	0.01%	61,012	$2M	added+52%	+0.01 pp	9 q
HCCIHeritage-Crystal Clean, Inc.	0.01%	152,154	$6M	trimmed−7%	−0.01 pp	9 q
INFUInfuSystem Holdings, Inc.	0.01%	361,399	$3M	added+90%	+0.01 pp	3 q
INGRIngredion Incorporated	0.01%	45,521	$5M	added+57%	0.00 pp	6 q
IIINInsteel Industries, Inc.	0.01%	125,561	$4M	added+15%	0.00 pp	2 q
IBPInstalled Building Products, Inc.	0.01%	31,795	$4M	new	+0.01 pp	new
IPIIntrepid Potash, Inc	0.01%	252,038	$6M	added×3.5	0.00 pp	2 q
JBIJanus International Group, Inc.	0.01%	190,030	$2M	new	+0.01 pp	new
KALUKaiser Aluminum Corporation	0.01%	55,141	$4M	new	+0.01 pp	new
KEKimball Electronics, Inc.	0.01%	80,501	$2M	new	+0.01 pp	new
LYTSLSI Industries Inc	0.01%	184,837	$2M	added+67%	+0.01 pp	9 q
LTRXLantronix Inc	0.01%	530,705	$2M	added+11%	0.00 pp	3 q
DRSLeonardo DRS, Inc.	0.01%	193,971	$3M	added+49%	+0.01 pp	2 q
LBRTLiberty Energy Inc.	0.01%	208,411	$3M	trimmed−1%	0.00 pp	6 q
LINCLincoln Educational Services	0.01%	422,260	$3M	trimmed−10%	0.00 pp	8 q
MDCM.D.C. Holdings, Inc.	0.01%	101,700	$5M	added+33%	0.00 pp	3 q
MACThe Macerich Company	0.01%	189,933	$2M	added+6%	0.00 pp	9 q
MGNIMagnite, Inc.	0.01%	407,777	$6M	added+57%	0.00 pp	5 q
MCMoelis & Company	0.01%	101,268	$5M	added×2.1	+0.01 pp	2 q
FRACKeane Group, Inc.	0.01%	305,610	$3M	added+20%	0.00 pp	6 q
DNOWDNOW Inc.	0.01%	261,129	$3M	added0%	0.00 pp	6 q
OISOil States International, Inc.	0.01%	764,694	$6M	added+19%	0.00 pp	7 q
ONBOld National Bancorp	0.01%	149,787	$2M	added+50%	+0.01 pp	4 q
OPCHOption Care Health, Inc.	0.01%	81,362	$3M	trimmed−31%	0.00 pp	9 q
OFIXOrthofix Medical Inc. (DE)	0.01%	250,620	$5M	added×3.3	+0.01 pp	9 q
PBFPbf Energy Inc.	0.01%	91,747	$4M	added+81%	0.00 pp	7 q
PEWPctel Inc	0.01%	468,355	$2M	added+4%	0.00 pp	9 q
PGTIPGT, Inc.	0.01%	83,890	$2M	added+4%	0.00 pp	9 q
PKOHPark-Ohio Holdings Corp	0.01%	106,559	$2M	trimmed−11%	+0.01 pp	9 q
PNTGThe Pennant Group, Inc.	0.01%	341,007	$4M	added+43%	0.00 pp	6 q
PFMTPerformant Financial Corp	0.01%	1,489,400	$4M	added+34%	0.00 pp	8 q
PRPermian Resources Corporation	0.01%	417,762	$5M	added+24%	0.00 pp	3 q
PTBPotbelly Corp	0.01%	564,753	$5M	added+17%	0.00 pp	9 q
QRHCQuest Resource Holding Corporation	0.01%	306,236	$2M	added+24%	+0.01 pp	9 q
QNSTQuinStreet, Inc.	0.01%	411,561	$4M	added+85%	0.00 pp	9 q
QIPTQuipt Home Medical Corp.	0.01%	432,835	$2M	added+18%	0.00 pp	5 q
RESRPC, Inc.	0.01%	281,499	$2M	added+10%	0.00 pp	7 q
RHRh	0.01%	13,375	$4M	added+24%	0.00 pp	5 q
RDNRadian Group Inc.	0.01%	228,416	$6M	added+50%	0.00 pp	9 q
RLGTRadiant Logistics, Inc.	0.01%	302,492	$2M	added+27%	+0.01 pp	9 q
SMSM Energy Company	0.01%	122,178	$4M	added+34%	0.00 pp	7 q
SBCFSeacoast Banking Corp of Florida	0.01%	209,515	$5M	added×2.0	0.00 pp	9 q
07SSecureworks Corp - A	0.01%	707,544	$5M	added+50%	0.00 pp	9 q
SHYFThe Shyft Group, Inc.	0.01%	141,659	$3M	added+41%	0.00 pp	5 q
SGHTSight Sciences, Inc.	0.01%	403,385	$3M	added+18%	0.00 pp	5 q
SIX1Six Flags Entertainment Corp.	0.01%	190,391	$5M	added+62%	0.00 pp	9 q
SKAASkechers USA Inc-cl A	0.01%	65,284	$3M	added×3.1	+0.01 pp	8 q
SKYChampion Homes, Inc.	0.01%	52,976	$3M	trimmed−15%	0.00 pp	9 q
SNPOSnap One Holdings Corp.	0.01%	169,484	$2M	added+9%	+0.01 pp	3 q
SONOSonos, Inc.	0.01%	289,104	$5M	added×3.5	+0.01 pp	6 q
8DTSquarespace Inc - Class A	0.01%	100,760	$3M	trimmed−36%	0.00 pp	4 q
SBUXStarbucks Corp	0.01%	50,670	$5M	trimmed−0%	0.00 pp	12 q
SRCLStericycle Inc	0.01%	104,500	$5M	new	+0.01 pp	new
SGRYSurgery Partners, Inc.	0.01%	116,137	$5M	added+30%	0.00 pp	8 q
TCMDTactile Systems Technology, Inc.	0.01%	123,389	$3M	trimmed−48%	0.00 pp	5 q
SKTTanger Inc.	0.01%	100,604	$2M	trimmed−29%	0.00 pp	9 q
STKSThe ONE Group Hospitality, Inc.	0.01%	503,888	$4M	added×2.6	+0.01 pp	2 q
TLYSTilly's Inc.	0.01%	361,278	$3M	added+19%	0.00 pp	5 q
TITNTitan Machinery Inc.	0.01%	158,719	$5M	added+19%	0.00 pp	6 q
TFCTruist Financial Corporation	0.01%	172,715	$5M	added+5%	0.00 pp	41 q
SLCAU.s. Silica Holdings, Inc.	0.01%	390,153	$5M	trimmed−0%	0.00 pp	9 q
UNVRUnivar Solutions Inc.	0.01%	71,957	$3M	trimmed−12%	0.00 pp	9 q
UTIUniversal Technical Institute, Inc.	0.01%	370,783	$3M	trimmed−7%	0.00 pp	7 q
UTZUtz Brands, Inc.	0.01%	208,177	$3M	added+26%	0.00 pp	7 q
VSECVSE Corp	0.01%	97,759	$5M	trimmed−11%	0.00 pp	9 q
VZIOVIZIO Holding Corp.	0.01%	393,050	$3M	added+94%	+0.01 pp	2 q
WCCWesco International Inc.	0.01%	31,999	$6M	trimmed−3%	0.00 pp	9 q
ZETAZeta Global Holdings Corp.	0.01%	336,500	$3M	added×2.2	+0.01 pp	4 q
CMBMFCambium Networks Corp Ord	0.01%	167,222	$3M	new	+0.01 pp	new
GSMFerroglobe PLC	0.01%	1,057,276	$5M	added+29%	0.00 pp	9 q
LINLinde plc	0.01%	6,853	$3M	held	—	2 q
LXFRLuxfer Holdings PLC	0.01%	196,079	$3M	added+16%	0.00 pp	9 q
LPGDorian Lpg Ltd	0.01%	158,641	$4M	added+23%	0.00 pp	9 q
NVGSNavigator Holdings Ltd.	0.01%	416,727	$5M	added+5%	0.00 pp	9 q
ARCARC Document Solutions, Inc.	0.00%	101,431	$328,636	trimmed−6%	0.00 pp	4 q
AMHAmerican Homes 4 Rent	0.00%	6,954	$246,519	added+2%	0.00 pp	7 q
AWKAmerican Water Works Company, Inc	0.00%	821	$117,198	added×4.2	0.00 pp	5 q
ARMKAramark	0.00%	13,304	$572,737	trimmed−1%	0.00 pp	6 q
AVTRAvantor, Inc.	0.00%	14,905	$306,149	trimmed−2%	0.00 pp	6 q
ACLSAxcelis Technologies Inc	0.00%	8,198	$2M	trimmed−70%	−0.01 pp	5 q
BALLBall Corporation	0.00%	665	$38,710	added+2%	0.00 pp	7 q
BRK.BBERKSHIRE HATHAWAY Class B	0.00%	26	$8,866	held	—	3 q
BIOBio-Rad Laboratories, Inc.Class A	0.00%	191	$72,412	new	0.00 pp	new
BSMBlack Stone Minerals, L.P.	0.00%	7,125	$113,644	new	0.00 pp	new
BLBDBlue Bird Corporation	0.00%	77,860	$2M	trimmed−60%	−0.01 pp	6 q
CAMPCalamp Corp	0.00%	607,022	$643,443	trimmed−9%	−0.01 pp	9 q
CNICanadian National Railway	0.00%	1,553	$188,030	added+2%	0.00 pp	7 q
CPCanadian Pacific Kansas City Limited	0.00%	2,148	$173,467	new	0.00 pp	new
CAHCardinal Health, Inc.	0.00%	8,194	$774,907	trimmed−2%	0.00 pp	6 q
CASYCasey's General Stores Inc	0.00%	2,301	$561,168	held	—	6 q
CHTRCharter Comm Inc Del CL A New	0.00%	505	$185,522	added+2%	0.00 pp	7 q
CLDTChatham Lodging Trust	0.00%	151,970	$1M	trimmed−17%	−0.01 pp	9 q
CHWYChewy, Inc.	0.00%	7,282	$287,421	trimmed−5%	0.00 pp	6 q
CIENCiena Corporation	0.00%	12,515	$531,763	added+9%	0.00 pp	6 q
CLARClarus Corporation	0.00%	208,241	$2M	added+2%	−0.01 pp	3 q
CLFCleveland-Cliffs Inc.	0.00%	26,310	$440,955	trimmed−0%	0.00 pp	6 q
ENOVEnovis Corporation	0.00%	1,189	$76,239	new	0.00 pp	new
DECKDeckers Outdoor Corp	0.00%	258	$136,136	trimmed−36%	0.00 pp	4 q
DXYNDixie Group Inc	0.00%	245,906	$327,055	trimmed−4%	0.00 pp	9 q
DCIDonaldson Company, Inc.	0.00%	7,837	$489,891	added+46%	0.00 pp	5 q
DOVDover Corporation	0.00%	3,577	$528,144	trimmed−1%	0.00 pp	5 q
EOGEOG Resources, Inc.	0.00%	586	$67,062	added+2%	0.00 pp	7 q
ENTGEntegris Inc	0.00%	1,487	$164,790	new	0.00 pp	new
EQIXEquinix, Inc.	0.00%	124	$97,209	trimmed−37%	0.00 pp	7 q
EXRExtra Space Storage, Inc.	0.00%	567	$84,398	added+54%	0.00 pp	2 q
JOBGEE Group Inc.	0.00%	1,228,451	$629,335	trimmed−4%	0.00 pp	7 q
GDGeneral Dynamics Corporation	0.00%	7,297	$2M	held	—	30 q
DINOHF Sinclair Corporation	0.00%	10,106	$450,829	trimmed−1%	0.00 pp	6 q
HA7Enviri Corp	0.00%	87,046	$859,144	trimmed−47%	0.00 pp	4 q
HCATHealth Catalyst, Inc	0.00%	82,123	$1M	trimmed−24%	0.00 pp	4 q
ICADIcad Inc	0.00%	669,136	$1M	trimmed−10%	0.00 pp	5 q
IRIngersoll Rand Inc.	0.00%	5,345	$349,349	held	—	3 q
IFFInternational Flavors & Fragrances Inc.	0.00%	5,813	$462,657	added+42%	0.00 pp	2 q
IAUiShares Gold Trust	0.00%	2,390	$86,025	added+31%	0.00 pp	5 q
IWMiShares Russell 2000 ETF	0.00%	2,500	$466,492	new	0.00 pp	new
ITIIteris, Inc.	0.00%	460,280	$2M	trimmed−6%	−0.01 pp	9 q
IEIvanhoe Electric Inc.	0.00%	2,253	$29,379	new	0.00 pp	new
KMPRKemper Corporation	0.00%	30,010	$1M	new	0.00 pp	new
LIILennox International Inc.	0.00%	2,039	$664,857	held	—	6 q
MNTXManitex International, Inc.	0.00%	258,823	$1M	added+10%	0.00 pp	9 q
MCHXMarchex, Inc. Class B	0.00%	552,875	$1M	trimmed−2%	0.00 pp	9 q
MAAMid-America Apartment Communities, Inc.	0.00%	826	$125,436	added+2%	0.00 pp	7 q
NGVCNatural Grocers By Vitamin Cottage, Inc	0.00%	96,787	$1M	added+12%	0.00 pp	3 q
STIMNeuronetics, Inc.	0.00%	580,175	$1M	added+12%	0.00 pp	9 q
NPKINPK International Inc.	0.00%	181,883	$951,248	trimmed−15%	0.00 pp	9 q
QSIINextgen Healthcare Inc	0.00%	20,000	$324,400	new	0.00 pp	new
NDLSNoodles & Company Class A	0.00%	452,191	$2M	added+3%	−0.01 pp	9 q
ONON Semiconductor Corp	0.00%	6,763	$639,644	added+11%	0.00 pp	5 q
OESXOrion Energy Systems, Inc.	0.00%	366,034	$596,635	trimmed−2%	0.00 pp	7 q
ORNOrion Group Holdings, Inc	0.00%	569,283	$2M	added+1%	0.00 pp	9 q
OTISOtis Worldwide Corporation	0.00%	106	$9,435	held	—	3 q
PKPark Hotels & Resorts Inc.	0.00%	87,128	$1M	trimmed−39%	0.00 pp	7 q
PFGCPerformance Food Group Company	0.00%	10,229	$616,195	held	—	6 q
RVTYRevvity, Inc.	0.00%	2,246	$266,802	trimmed−2%	0.00 pp	5 q
PSXPhillips 66	0.00%	849	$80,978	trimmed−48%	0.00 pp	7 q
DGXQuest Diagnostics Inc.	0.00%	3,671	$515,996	held	—	6 q
RDNTRadNet, Inc.	0.00%	42,648	$1M	trimmed−36%	0.00 pp	7 q
RJFRaymond James Financial, Inc.	0.00%	2,963	$307,471	added+37%	0.00 pp	4 q
unresolvedThe Real Good Food Company I	0.00%	326,461	$1M	trimmed−1%	0.00 pp	7 q
RAHSocietal Cdmo Inc	0.00%	1,651,699	$2M	added0%	−0.01 pp	9 q
RGSRegis Corporation	0.00%	1,576,165	$2M	trimmed−6%	0.00 pp	9 q
RKTRocket Companies, Inc.	0.00%	31,385	$281,210	added+91%	0.00 pp	2 q
SBACSBA Communications Corp	0.00%	806	$186,799	added+20%	0.00 pp	7 q
SEMSelect Medical Holdings Corp	0.00%	56,197	$2M	trimmed−22%	0.00 pp	9 q
SMRTSmartRent, Inc.	0.00%	372,998	$1M	new	0.00 pp	new
SPWHSportsman's Warehouse Holdings, Inc.	0.00%	341,210	$2M	trimmed−35%	−0.01 pp	7 q
SSUPSuperior Industries Intl	0.00%	410,947	$1M	trimmed−17%	−0.01 pp	9 q
SNCRSynchronoss Technologies Inc	0.00%	975,433	$906,275	trimmed−7%	0.00 pp	5 q
TRNOTerreno Realty Corporation	0.00%	833	$50,063	added+2%	0.00 pp	7 q
TTSTile Shop Hldgs Inc	0.00%	244,534	$1M	added+5%	0.00 pp	4 q
UPLDUpland Software, Inc.	0.00%	404,935	$1M	added+23%	0.00 pp	3 q
MTNVail Resorts, Inc.	0.00%	889	$223,814	held	—	4 q
WLKWestlake Corporation	0.00%	2,868	$342,640	added+30%	0.00 pp	5 q
XPOXPO, Inc.	0.00%	8,077	$476,543	trimmed−2%	0.00 pp	6 q
ZBHZimmer Biomet Holdings, Inc.	0.00%	3,803	$553,717	added+50%	0.00 pp	5 q
DOXAmdocs Limited	0.00%	2,303	$227,651	trimmed−4%	0.00 pp	5 q
ACNAccenture PLC	0.00%	2,700	$833,166	trimmed−0%	0.00 pp	12 q
TROXTronox Limited Cl A	0.00%	117,020	$1M	new	0.00 pp	new
CRNTCeragon Networks Ltd	0.00%	509,215	$1M	added+74%	0.00 pp	6 q
ICLICL Group Ltd.	0.00%	11,601	$63,573	added+2%	0.00 pp	7 q
FLEXFlex Ltd.	0.00%	2,902	$80,211	new	0.00 pp	new
DHID.R. Horton Inc.	—	−318,713	—	exited	−0.08 pp	—
KGCKinross Gold Corporation	—	−4,555,619	—	exited	−0.06 pp	—
AJRDAerojet Rocketdyne Holdings, Inc.	—	−240,464	—	exited	−0.04 pp	—
CCAPCrescent Capital BDC, Inc.	—	−977,381	—	exited	−0.04 pp	—
EVAEnviva Inc.	—	−197,135	—	exited	−0.02 pp	—
LTHMLivent Corporation	—	−293,981	—	exited	−0.02 pp	—
S9QSpirit Aerosystems Hold-cl A	—	−230,264	—	exited	−0.02 pp	—
unresolvedCrh PLC	—	−43,637	—	exited	−0.01 pp	—
DZSIQDzs Inc	—	−277,648	—	exited	−0.01 pp	—
LITELumentum Holdings Inc.	—	−47,645	—	exited	−0.01 pp	—
MRCYMercury Systems Inc.	—	−72,973	—	exited	−0.01 pp	—
PEBPebblebrook Hotel Trust	—	−172,547	—	exited	−0.01 pp	—
RUTHRuth's Hospitality Group, Inc.	—	−200,923	—	exited	−0.01 pp	—
WNCWabash National Corp.	—	−104,277	—	exited	−0.01 pp	—
WDWalker & Dunlop, Inc.	—	−42,993	—	exited	−0.01 pp	—
AAPAdvance Auto Parts Inc	—	−2,209	—	exited	0.00 pp	—
APEIAmerican Public Education, Inc.	—	−154,948	—	exited	0.00 pp	—
AROCArchrock Inc	—	−56,530	—	exited	0.00 pp	—
BWBabcock & Wilcox Enterprises, Inc.	—	−182,071	—	exited	0.00 pp	—
BHRBraemar Hotels & Resorts Inc.	—	−171,281	—	exited	0.00 pp	—
unresolvedCanadian Pac Ry Ltd	—	−2,112	—	exited	0.00 pp	—
CCThe Chemours Company	—	−717	—	exited	0.00 pp	—
CVXChevron Corporation	—	−1,047	—	exited	0.00 pp	—
CLFDClearfield, Inc.	—	−30,941	—	exited	0.00 pp	—
GSKGSK plc	—	−3	—	exited	0.00 pp	—
IBTXIndependent Bank Group, Inc.	—	−18,218	—	exited	0.00 pp	—
JILLJ.Jill, Inc.	—	−12,601	—	exited	0.00 pp	—
LADRLadder Capital Corp	—	−170,911	—	exited	0.00 pp	—
TCBITexas Capital Bancshares, Inc.	—	−15,812	—	exited	0.00 pp	—
VIAOYVia Optroncs Hldg S/	—	−186,111	—	exited	0.00 pp	—