The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Expires: July 31, 2015
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABBOTT LABS COM 002824100 169,142 1,350 SH DFND 1,350 0 0
ACADEMY SPORTS & OUTDOORS IN COM 00402L107 16,249,340 325,247 SH DFND 298,547 0 26,700
ACCURAY INC COM 004397105 2,744,522 3,328,307 SH DFND 2,733,657 0 594,650
ACUSHNET HLDGS CORP COM 005098108 3,017,435 37,803 SH DFND 37,803 0 0
ADT INC DEL COM 00090Q103 3,252,952 403,092 SH DFND 403,092 0 0
ALASKA AIR GROUP INC COM 011659109 2,070,348 41,160 SH DFND 25,660 0 15,500
ALEXANDER & BALDWIN INC NEW COM 014491104 8,256,000 400,000 SH DFND 400,000 0 0
ALGONQUIN PWR UTILS CORP COM 015857105 3,075,000 500,000 SH DFND 500,000 0 0
ALLEGIANT TRAVEL CO COM 01748X102 17,674,766 207,280 SH DFND 194,580 0 12,700
ALPHABET INC CAP STK CL C 02079K107 698,205 2,225 SH DFND 2,225 0 0
ALPHABET INC CAP STK CL A 02079K305 9,305,803 29,731 SH DFND 29,731 0 0
ALPINE INCOME PPTY TR INC COM 02083X103 7,763,430 464,320 SH DFND 415,070 0 49,250
AMAZON COM INC COM 023135106 3,620,412 15,685 SH DFND 15,685 0 0
ANALOG DEVICES INC COM 032654105 117,972 435 SH DFND 435 0 0
APPLE INC COM 037833100 982,230 3,613 SH DFND 3,613 0 0
APPLIED MATLS INC COM 038222105 1,999,382 7,780 SH DFND 7,780 0 0
ARAMARK COM 03852U106 9,000,364 244,177 SH DFND 244,177 0 0
ARCBEST CORP COM 03937C105 4,451,400 60,000 SH DFND 60,000 0 0
ARCH CAP GROUP LTD ORD G0450A105 8,410,074 87,678 SH DFND 87,678 0 0
ASSOCIATED BANC CORP COM 045487105 22,635,673 878,714 SH DFND 837,464 0 41,250
ASTEC INDS INC COM 046224101 9,932,193 229,275 SH DFND 209,775 0 19,500
AUDIOCODES LTD ORD M15342104 7,279,074 833,800 SH DFND 763,600 0 70,200
BALL CORP COM 058498106 7,398,797 139,679 SH DFND 139,679 0 0
BANK MARIN BANCORP COM 063425102 5,190,816 199,570 SH DFND 199,570 0 0
BARRETT BSUINESS SVCS INC COM 068463108 16,294,500 450,000 SH DFND 450,000 0 0
BECTON DICKINSON & CO COM 075887109 19,456,876 100,257 SH DFND 100,257 0 0
BENCHMARK ELECTRS INC COM 08160H101 5,345,000 125,000 SH DFND 125,000 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 4,969,198 9,886 SH DFND 9,886 0 0
BJS WHSL CLUB HLDGS INC COM 05550J101 2,894,915 32,155 SH DFND 32,155 0 0
BLACKROCK INC COM 09290D101 347,861 325 SH DFND 325 0 0
BLUELINX HLDGS INC COM NEW 09624H208 4,607,250 75,000 SH DFND 75,000 0 0
BRADY CORP CL A 104674106 9,615,607 122,695 SH DFND 122,695 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 5,505,438 53,508 SH DFND 53,508 0 0
BWX TECHNOLOGIES INC COM 05605H100 1,808,943 10,466 SH DFND 10,466 0 0
CALAVO GROWERS INC COM 128246105 10,374,206 476,975 SH DFND 457,475 0 19,500
CAMDEN PPTY TR SH BEN INT 133131102 13,525,530 122,870 SH DFND 122,870 0 0
CANADIAN NATL RY CO COM 136375102 743,253 7,519 SH DFND 7,519 0 0
CAPITAL CITY BK GROUP INC COM 139674105 21,285,000 500,000 SH DFND 500,000 0 0
CARLISLE COS INC COM 142339100 2,651,320 8,289 SH DFND 8,289 0 0
CARMAX INC COM 143130102 1,139,300 29,485 SH DFND 29,485 0 0
CARRIAGE SVCS INC COM 143905107 8,768,790 207,300 SH DFND 207,300 0 0
CASS INFORMATION SYS INC COM 14808P109 19,308,419 465,039 SH DFND 453,289 0 11,750
CENTENE CORP DEL COM 15135B101 2,106,469 51,190 SH DFND 51,190 0 0
CENTERRA GOLD INC COM 152006102 31,634,837 2,201,450 SH DFND 2,082,650 0 118,800
CENTURY CMNTYS INC COM 156504300 27,019,918 455,264 SH DFND 433,864 0 21,400
CHEVRON CORP NEW COM 166764100 182,892 1,200 SH DFND 1,200 0 0
CISCO SYS INC COM 17275R102 2,406,879 31,246 SH DFND 31,246 0 0
COLUMBIA SPORTSWEAR CO COM 198516106 4,334,977 78,689 SH DFND 78,689 0 0
COLUMBUS MCKINNON CORP N Y COM 199333105 10,265,475 595,100 SH DFND 558,800 0 36,300
COMMUNITY TR BANCORP INC COM 204149108 9,549,913 169,025 SH DFND 161,275 0 7,750
CONSOLIDATED WATER CO INC ORD G23773107 10,578,178 299,750 SH DFND 273,250 0 26,500
CONSTELLATION ENERGY CORP COM 21037T109 199,951 566 SH DFND 566 0 0
COOPER COS INC COM 216648501 15,348,075 187,263 SH DFND 187,263 0 0
CTS CORP COM 126501105 6,436,073 150,130 SH DFND 150,130 0 0
CUSTOM TRUCK ONE SOURCE INC COM CL A 23204X103 4,032,000 700,000 SH DFND 700,000 0 0
CUSTOMERS BANCORP INC COM 23204G100 13,371,820 182,875 SH DFND 171,025 0 11,850
D R HORTON INC COM 23331A109 11,064,961 76,824 SH DFND 76,824 0 0
DENTSPLY SIRONA INC COM 24906P109 1,844,802 161,400 SH DFND 126,900 0 34,500
DNOW INC COM 67011P100 5,962,500 450,000 SH DFND 450,000 0 0
DONALDSON INC COM 257651109 17,270,436 194,794 SH DFND 194,794 0 0
DOUBLEDOWN INTERACTIVE CO LT ADS 25862B109 3,452,000 400,000 SH DFND 400,000 0 0
EASTGROUP PPTYS INC COM 277276101 7,607,469 42,705 SH DFND 42,705 0 0
ELDORADO GOLD CORP NEW COM 284902509 26,342,830 733,375 SH DFND 683,825 0 49,550
ELEVANCE HEALTH INC FORMERLY COM 036752103 2,343,777 6,686 SH DFND 6,686 0 0
ENCOMPASS HEALTH CORP COM 29261A100 1,465,900 13,811 SH DFND 13,811 0 0
ENCORE CAP GROUP INC COM 292554102 20,969,861 385,830 SH DFND 353,430 0 32,400
ENERPAC TOOL GROUP CORP CL A COM 292765104 4,098,104 107,168 SH DFND 107,168 0 0
ENVISTA HOLDINGS CORPORATION COM 29415F104 9,313,525 428,997 SH DFND 428,997 0 0
EOG RES INC COM 26875P101 16,137,832 153,679 SH DFND 153,679 0 0
ESSENTIAL UTILS INC COM 29670G102 1,744,728 45,483 SH DFND 45,483 0 0
ESSEX PPTY TR INC COM 297178105 7,027,416 26,855 SH DFND 26,855 0 0
EVEREST GROUP LTD COM G3223R108 8,585,216 25,299 SH DFND 25,299 0 0
EVERTEC INC COM 30040P103 6,908,875 237,500 SH DFND 237,500 0 0
EXELON CORP COM 30161N101 17,511,149 401,724 SH DFND 401,724 0 0
EXXON MOBIL CORP COM 30231G102 1,694,869 14,084 SH DFND 14,084 0 0
EZCORP INC CL A NON VTG 302301106 13,708,695 705,906 SH DFND 705,906 0 0
F N B CORP COM 302520101 10,551,128 617,025 SH DFND 617,025 0 0
FB FINL CORP COM 30257X104 10,463,114 187,511 SH DFND 187,511 0 0
FIDELITY NATL INFORMATION SV COM 31620M106 1,390,742 20,926 SH DFND 20,926 0 0
FIRST AMERN FINL CORP COM 31847R102 2,172,518 35,360 SH DFND 35,360 0 0
FIRST INTERNET BANCORP COM 320557101 6,022,978 288,595 SH DFND 264,770 0 23,825
FIRSTCASH HOLDINGS INC COM 33768G107 8,410,164 52,768 SH DFND 52,768 0 0
FIRSTENERGY CORP COM 337932107 12,961,900 289,522 SH DFND 289,522 0 0
FORESTAR GROUP INC COM 346232101 12,473,864 506,450 SH DFND 468,800 0 37,650
GATES INDL CORP PLC ORD SHS G39108108 15,891,450 740,170 SH DFND 740,170 0 0
GENERAC HLDGS INC COM 368736104 2,921,455 21,423 SH DFND 21,423 0 0
GLACIER BANCORP INC NEW COM 37637Q105 16,365,808 371,528 SH DFND 371,528 0 0
GLOBAL MED REIT INC COM NEW 37954A303 14,287,540 423,460 SH DFND 413,370 0 10,090
GLOBAL WTR RES INC COM 379463102 5,800,925 686,500 SH DFND 600,000 0 86,500
GRAND CANYON ED INC COM 38526M106 3,707,549 22,293 SH DFND 22,293 0 0
GRANITE CONSTR INC COM 387328107 6,187,028 53,637 SH DFND 53,637 0 0
GROCERY OUTLET HLDG CORP COM 39874R101 6,894,765 682,650 SH DFND 609,650 0 73,000
HAEMONETICS CORP MASS COM 405024100 6,011,250 75,000 SH DFND 75,000 0 0
HANOVER INS GROUP INC COM 410867105 7,835,167 42,869 SH DFND 42,869 0 0
HAYWARD HLDGS INC COM 421298100 5,378,068 348,095 SH DFND 348,095 0 0
HEALTHSTREAM INC COM 42222N103 1,174,401 50,906 SH DFND 50,906 0 0
HENRY SCHEIN INC COM 806407102 9,069,600 120,000 SH DFND 120,000 0 0
HERITAGE FINL CORP WASH COM 42722X106 6,503,750 275,000 SH DFND 275,000 0 0
HERSHEY CO COM 427866108 17,684,452 97,178 SH DFND 97,178 0 0
HEXCEL CORP NEW COM 428291108 12,288,609 166,287 SH DFND 166,287 0 0
HOME DEPOT INC COM 437076102 426,340 1,239 SH DFND 1,239 0 0
HONEYWELL INTL INC COM 438516106 204,845 1,050 SH DFND 1,050 0 0
HUBBELL INC COM 443510607 7,546,761 16,993 SH DFND 16,993 0 0
HUMANA INC COM 444859102 6,118,433 23,888 SH DFND 23,888 0 0
HUNT J B TRANS SVCS INC COM 445658107 17,604,872 90,588 SH DFND 90,588 0 0
I3 VERTICALS INC COM CL A 46571Y107 13,767,595 546,550 SH DFND 529,950 0 16,600
ICHOR HOLDINGS SHS G4740B105 5,529,000 300,000 SH DFND 300,000 0 0
ICON PLC SHS G4705A100 1,468,329 8,058 SH DFND 8,058 0 0
ILLINOIS TOOL WKS INC COM 452308109 427,084 1,734 SH DFND 1,734 0 0
INFUSYSTEM HLDGS INC COM 45685K102 4,485,000 500,000 SH DFND 500,000 0 0
INGREDION INC COM 457187102 6,065,954 55,015 SH DFND 55,015 0 0
INNOVEX INTERNATIONAL INC COM 457651107 6,561,000 300,000 SH DFND 300,000 0 0
INTEGER HLDGS CORP COM 45826H109 19,036,137 242,715 SH DFND 232,315 0 10,400
INTERACTIVE BROKERS GROUP IN COM CL A 45841N107 555,060 8,631 SH DFND 8,631 0 0
INTERNATIONAL PAPER CO COM 460146103 51,443 1,306 SH DFND 1,306 0 0
INTL GNRL INSURANCE HLDNGS L SHS G4809J106 7,527,000 300,000 SH DFND 300,000 0 0
INVESCO EXCHANGE TRADED FD T AEROSPACE DEFN 46137V100 58,736 375 SH DFND 375 0 0
ISHARES TR RUS 1000 VAL ETF 464287598 461,065 2,192 SH DFND 2,192 0 0
ISHARES TR RUS 2000 VAL ETF 464287630 57,625 318 SH DFND 318 0 0
ISHARES TR CORE S&P500 ETF 464287200 115,755 169 SH DFND 169 0 0
ISHARES TR MSCI INTL QUALTY 46434V456 394,733 8,685 SH DFND 8,685 0 0
ISHARES TR CORE US AGGBD ET 464287226 3,821,209 38,258 SH DFND 38,258 0 0
JOHNSON & JOHNSON COM 478160104 4,648,925 22,464 SH DFND 22,464 0 0
JPMORGAN CHASE & CO. COM 46625H100 101,822 316 SH DFND 316 0 0
KEURIG DR PEPPER INC COM 49271V100 5,615,529 200,483 SH DFND 200,483 0 0
KEYSIGHT TECHNOLOGIES INC COM 49338L103 2,438,280 12,000 SH DFND 12,000 0 0
KIMBERLY-CLARK CORP COM 494368103 9,873,095 97,860 SH DFND 97,860 0 0
KINDER MORGAN INC DEL COM 49456B101 5,004,280 182,040 SH DFND 182,040 0 0
KIRBY CORP COM 497266106 4,931,106 44,755 SH DFND 44,755 0 0
KNIFE RIVER CORP COMMON STOCK 498894104 4,221,000 60,000 SH DFND 60,000 0 0
LAKELAND FINL CORP COM 511656100 1,297,773 22,744 SH DFND 22,744 0 0
LAM RESEARCH CORP COM NEW 512807306 5,606,145 32,750 SH DFND 32,750 0 0
LAMAR ADVERTISING CO NEW CL A 512816109 9,826,152 77,628 SH DFND 77,628 0 0
LANTRONIX INC COM NEW 516548203 9,376,000 1,600,000 SH DFND 1,600,000 0 0
LATTICE SEMICONDUCTOR CORP COM 518415104 5,117,783 69,554 SH DFND 69,554 0 0
LEIDOS HOLDINGS INC COM 525327102 7,888,170 43,726 SH DFND 43,726 0 0
LINCOLN EDL SVCS CORP COM 533535100 31,153,500 1,290,000 SH DFND 1,290,000 0 0
LINCOLN ELEC HLDGS INC COM 533900106 5,826,128 24,312 SH DFND 24,312 0 0
LITTELFUSE INC COM 537008104 7,448,494 29,450 SH DFND 29,450 0 0
LYFT INC CL A COM 55087P104 10,919,838 563,750 SH DFND 501,450 0 62,300
MAGNOLIA OIL & GAS CORP CL A 559663109 14,255,841 651,249 SH DFND 651,249 0 0
MAGNUM ICE CREAM CO NV ORD SHS N5505D105 213,135 13,447 SH DFND 13,447 0 0
MAMAS CREATIONS INC COM 56146T103 2,698,000 200,000 SH DFND 200,000 0 0
MARCUS CORP DEL COM 566330106 3,179,550 205,000 SH DFND 205,000 0 0
MARKETAXESS HLDGS INC COM 57060D108 5,151,306 28,421 SH DFND 28,421 0 0
MARTEN TRANS LTD COM 573075108 3,414,000 300,000 SH DFND 300,000 0 0
MATADOR RES CO COM 576485205 8,919,997 210,179 SH DFND 192,479 0 17,700
MATERION CORP COM 576690101 6,322,791 50,859 SH DFND 50,859 0 0
MCDONALDS CORP COM 580135101 299,517 980 SH DFND 980 0 0
MGIC INVT CORP WIS COM 552848103 16,802,523 575,035 SH DFND 575,035 0 0
MICROSOFT CORP COM 594918104 1,407,334 2,910 SH DFND 2,910 0 0
MIDDLEBY CORP COM 596278101 7,983,876 53,702 SH DFND 53,702 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 6,761,216 175,616 SH DFND 175,616 0 0
MOHAWK INDS INC COM 608190104 19,057,657 174,361 SH DFND 174,361 0 0
MOLINA HEALTHCARE INC COM 60855R100 7,081,300 40,805 SH DFND 40,805 0 0
NATIONAL RESH CORP COM NEW 637372202 938,500 50,000 SH DFND 50,000 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106 13,600,746 482,125 SH DFND 455,925 0 26,200
NEOGEN CORP COM 640491106 6,990,000 1,000,000 SH DFND 1,000,000 0 0
NEW FOUND GOLD CORP COM 64440N103 2,599,344 875,200 SH DFND 614,700 0 260,500
NEW GOLD INC CDA COM 644535106 4,790,500 550,000 SH DFND 550,000 0 0
NEXTERA ENERGY INC COM 65339F101 208,728 2,600 SH DFND 2,600 0 0
NORTHERN TR CORP COM 665859104 14,647,229 107,235 SH DFND 107,235 0 0
NORTHWESTERN ENERGY GROUP IN COM NEW 668074305 4,493,727 69,627 SH DFND 69,627 0 0
NOV INC COM 62955J103 17,024,040 1,089,190 SH DFND 1,089,190 0 0
NUCOR CORP COM 670346105 7,605,656 46,629 SH DFND 46,629 0 0
NWPX INFRASTRUCTURE INC COM 667746101 15,310,050 245,000 SH DFND 245,000 0 0
OLD REP INTL CORP COM 680223104 9,369,892 205,300 SH DFND 205,300 0 0
ON SEMICONDUCTOR CORP COM 682189105 5,845,655 107,953 SH DFND 107,953 0 0
ONE GAS INC COM 68235P108 6,214,840 80,451 SH DFND 80,451 0 0
OXFORD INDS INC COM 691497309 5,130,000 150,000 SH DFND 150,000 0 0
PACKAGING CORP AMER COM 695156109 8,072,873 39,145 SH DFND 39,145 0 0
PAPA JOHNS INTL INC COM 698813102 6,023,685 156,500 SH DFND 146,000 0 10,500
PARK DENTAL PARTNERS INC COM 700402100 2,250,900 152,500 SH DFND 152,500 0 0
PEPSICO INC COM 713448108 157,872 1,100 SH DFND 1,100 0 0
PERMA-FIX ENVIRONMENTAL SVCS COM NEW 714157203 5,036,000 400,000 SH DFND 400,000 0 0
PERRIGO CO PLC SHS G97822103 3,117,843 223,983 SH DFND 223,983 0 0
PHINIA INC COMMON STOCK 71880K101 16,111,330 257,000 SH DFND 257,000 0 0
PHOTRONICS INC COM 719405102 12,324,800 385,150 SH DFND 337,400 0 47,750
PLYMOUTH INDL REIT INC COM 729640102 6,564,000 300,000 SH DFND 300,000 0 0
PNC FINL SVCS GROUP INC COM 693475105 14,393,603 68,958 SH DFND 68,958 0 0
PPG INDS INC COM 693506107 3,881,287 37,881 SH DFND 37,881 0 0
PRESTIGE CONSMR HEALTHCARE I COM 74112D101 4,626,195 74,991 SH DFND 74,991 0 0
PRIMO BRANDS CORPORATION CLASS A COM SHS 741623102 7,800,585 477,100 SH DFND 443,100 0 34,000
PRIMORIS SVCS CORP COM 74164F103 7,448,400 60,000 SH DFND 60,000 0 0
PROCTER AND GAMBLE CO COM 742718109 513,050 3,580 SH DFND 3,580 0 0
PUBLIC STORAGE OPER CO COM 74460D109 21,017,684 80,993 SH DFND 80,993 0 0
PURE CYCLE CORP COM NEW 746228303 6,893,631 627,264 SH DFND 627,264 0 0
QORVO INC COM 74736K101 5,695,298 67,392 SH DFND 67,392 0 0
QUAD / GRAPHICS INC COM CL A 747301109 1,881,000 300,000 SH DFND 300,000 0 0
QUAKER HOUGHTON COM 747316107 17,037,150 124,078 SH DFND 124,078 0 0
QUEST DIAGNOSTICS INC COM 74834L100 8,375,078 48,263 SH DFND 48,263 0 0
RADIAN GROUP INC COM 750236101 10,797,000 300,000 SH DFND 300,000 0 0
RAYMOND JAMES FINL INC COM 754730109 3,051,371 19,001 SH DFND 19,001 0 0
RENASANT CORP COM 75970E107 6,606,708 187,584 SH DFND 187,584 0 0
RH COM 74967X103 4,030,875 22,500 SH DFND 22,500 0 0
ROBERT HALF INC. COM 770323103 2,490,328 91,691 SH DFND 91,691 0 0
ROYALTY PHARMA PLC SHS CLASS A G7709Q104 8,268,535 213,989 SH DFND 213,989 0 0
SANFILIPPO JOHN B & SON INC COM 800422107 4,165,400 59,000 SH DFND 59,000 0 0
SCHWAB STRATEGIC TR FUNDAMENTAL US L 808524771 25,060 921 SH DFND 921 0 0
SEABOARD CORP DEL COM 811543107 8,889,640 2,000 SH DFND 2,000 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 19,859,074 632,052 SH DFND 632,052 0 0
SELECT SECTOR SPDR TR STATE STREET ENE 81369Y506 1,309,109 29,280 SH DFND 29,280 0 0
SELECT SECTOR SPDR TR STATE STREET MAT 81369Y100 499,666 11,018 SH DFND 11,018 0 0
SELECT SECTOR SPDR TR STATE STREET CON 81369Y308 2,187,313 28,158 SH DFND 28,158 0 0
SELECT SECTOR SPDR TR STATE STREET HEA 81369Y209 46,440 300 SH DFND 300 0 0
SELECT SECTOR SPDR TR STATE STREET FIN 81369Y605 344,558 6,291 SH DFND 6,291 0 0
SEMTECH CORP COM 816850101 4,740,625 64,332 SH DFND 64,332 0 0
SENSATA TECHNOLOGIES HLDG PL SHS G8060N102 6,807,805 204,500 SH DFND 186,450 0 18,050
SENSIENT TECHNOLOGIES CORP COM 81725T100 6,844,633 72,854 SH DFND 72,854 0 0
SILICON MOTION TECHNOLOGY CO SPONSORED ADR 82706C108 25,251,295 272,398 SH DFND 264,098 0 8,300
SIMPSON MFG INC COM 829073105 782,322 4,845 SH DFND 4,845 0 0
SMITH & NEPHEW PLC SPDN ADR NEW 83175M205 9,861,603 300,567 SH DFND 300,567 0 0
SMITH A O CORP COM 831865209 9,466,396 141,543 SH DFND 141,543 0 0
SOLSTICE ADVANCED MATLS INC COM SHS 83443Q103 12,728 262 SH DFND 262 0 0
SONOCO PRODS CO COM 835495102 4,364,000 100,000 SH DFND 100,000 0 0
SOUTHWEST AIRLS CO COM 844741108 4,233,680 102,436 SH DFND 102,436 0 0
STAR EQUITY HOLDINGS INC COM NEW 443787205 140,186 12,461 SH DFND 12,461 0 0
STARBUCKS CORP COM 855244109 662,059 7,862 SH DFND 7,862 0 0
STEWART INFORMATION SVCS COR COM 860372101 8,782,500 125,000 SH DFND 125,000 0 0
STIFEL FINL CORP COM 860630102 10,744,753 85,807 SH DFND 85,807 0 0
SUN CMNTYS INC COM 866674104 5,249,695 42,367 SH DFND 42,367 0 0
SUNCOR ENERGY INC NEW COM 867224107 2,062,917 46,504 SH DFND 46,504 0 0
SUNOPTA INC COM 8676EP108 8,162,590 2,148,050 SH DFND 1,937,650 0 210,400
SYNERGY CHC CORP COM NEW 87165D208 1,023,000 550,000 SH DFND 550,000 0 0
SYSCO CORP COM 871829107 11,431,014 155,123 SH DFND 155,123 0 0
TE CONNECTIVITY PLC ORD SHS G87052109 10,986,458 48,290 SH DFND 48,290 0 0
TELEDYNE TECHNOLOGIES INC COM 879360105 25,585,019 50,095 SH DFND 50,095 0 0
TELEFLEX INCORPORATED COM 879369106 12,683,251 103,927 SH DFND 103,927 0 0
TETRA TECHNOLOGIES INC DEL COM 88162F105 3,402,716 363,150 SH DFND 234,150 0 129,000
TEXAS CAP BANCSHARES INC COM 88224Q107 31,662,924 349,712 SH DFND 344,562 0 5,150
TEXAS INSTRS INC COM 882508104 2,572,163 14,826 SH DFND 14,826 0 0
THERMON GROUP HLDGS INC COM 88362T103 9,495,606 255,533 SH DFND 255,533 0 0
THOR INDS INC COM 885160101 16,716,421 162,817 SH DFND 162,817 0 0
TIPTREE INC COM 88822Q103 7,308,000 400,000 SH DFND 400,000 0 0
TRICO BANCSHARES COM 896095106 11,842,500 250,000 SH DFND 250,000 0 0
UGI CORP NEW COM 902681105 11,940,170 319,000 SH DFND 308,900 0 10,100
UNILEVER PLC SPON ADR NEW 904767803 3,910,331 59,791 SH DFND 59,791 0 0
UNION PAC CORP COM 907818108 133,009 575 SH DFND 575 0 0
UNITEDHEALTH GROUP INC COM 91324P102 311,954 945 SH DFND 945 0 0
US BANCORP DEL COM NEW 902973304 106,720 2,000 SH DFND 2,000 0 0
VAIL RESORTS INC COM 91879Q109 4,140,704 31,180 SH DFND 31,180 0 0
VANGUARD INDEX FDS SMALL CP ETF 922908751 198,879 771 SH DFND 771 0 0
VIPER ENERGY INC CL A 64361Q101 19,864,550 514,226 SH DFND 514,226 0 0
VISA INC COM CL A 92826C839 668,103 1,905 SH DFND 1,905 0 0
WALKER & DUNLOP INC COM 93148P102 4,511,250 75,000 SH DFND 75,000 0 0
WATSCO INC COM 942622200 15,213,629 45,151 SH DFND 45,151 0 0
WEC ENERGY GROUP INC COM 92939U106 6,919,547 65,613 SH DFND 65,613 0 0
WELLS FARGO CO NEW COM 949746101 186,400 2,000 SH DFND 2,000 0 0
WESCO INTL INC COM 95082P105 5,235,785 21,402 SH DFND 21,402 0 0
WILLIS TOWERS WATSON PLC LTD SHS G96629103 5,126,160 15,600 SH DFND 15,600 0 0
WISDOMTREE INC COM 97717P104 1,089,786 89,400 SH DFND 60,000 0 29,400
WYNDHAM HOTELS & RESORTS INC COM 98311A105 2,841,963 37,612 SH DFND 37,612 0 0
XCEL ENERGY INC COM 98389B100 8,726,264 118,146 SH DFND 118,146 0 0