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
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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ACADEMY SPORTS & OUTDOORS IN COM 00402L107   1,331,250 25,000 SH   DFND   25,000 0 0
ACCURAY INC COM 004397105   6,042,309 3,319,950 SH   DFND   2,895,900 0 424,050
ACUSHNET HOLDINGS CORP COM 005098108   8,141,310 128,250 SH   DFND   128,250 0 0
ALASKA AIR GROUP INC COM 011659109   8,360,780 206,950 SH   DFND   194,450 0 12,500
ALPHABET INC CAP STK CL A 02079K305   5,937,726 32,598 SH   DFND   32,598 0 0
ALPINE INCOME PPTY TR INC COM 02083X103   9,878,266 634,850 SH   DFND   588,650 0 46,200
AMN HEALTHCARE SVCS INC COM 001744101   2,817,650 55,000 SH   DFND   55,000 0 0
ARTISAN PARTNERS ASSET MGMT CL A 04316A108   13,224,518 320,439 SH   DFND   320,439 0 0
ASSOCIATED BANC CORP COM 045487105   8,460,000 400,000 SH   DFND   400,000 0 0
ASTEC INDS INC COM 046224101   6,382,061 215,174 SH   DFND   196,924 0 18,250
AUDIOCODES LTD ORD M15342104   8,986,485 865,750 SH   DFND   800,550 0 65,200
AXOS FINANCIAL INC COM 05465C100   1,459,554 25,539 SH   DFND   25,539 0 0
BABCOCK & WILCOX ENTERPRISES COM 05614L209   402,520 277,600 SH   DFND   180,600 0 97,000
BALL CORP COM 058498106   16,365,173 272,662 SH   DFND   272,662 0 0
BARRETT BUSINESS SVCS INC COM 068463108   17,040,400 520,000 SH   DFND   520,000 0 0
BECTON DICKINSON & CO COM 075887109   15,350,073 65,680 SH   DFND   65,680 0 0
BENCHMARK ELECTRS INC COM 08160H101   3,599,817 91,227 SH   DFND   91,227 0 0
BERKLEY W R CORP COM 084423102   11,146,259 141,846 SH   DFND   141,846 0 0
BERKSHIRE HATHAWY INC DEL CL B NEW 084670702   4,449,172 10,937 SH   DFND   10,937 0 0
BERRY CORP COM 08579X101   2,907,000 450,000 SH   DFND   450,000 0 0
BLOOMIN BRANDS INC COM 094235108   1,923,000 100,000 SH   DFND   100,000 0 0
BOSTON BEER INC CL A 100557107   1,068,590 3,503 SH   DFND   3,503 0 0
BRADY CORP CL A 104674106   7,065,923 107,027 SH   DFND   107,027 0 0
BWX TECHNOLOGIES INC COM 05605H100   1,874,540 19,732 SH   DFND   19,732 0 0
CAL MAINE FOODS INC COM NEW 128030202   5,912,576 96,753 SH   DFND   96,753 0 0
CAMDEN PPTY TR SH BEN INT 133131102   19,259,115 176,511 SH   DFND   176,511 0 0
CANADIAN NATL RY CO COM 136375102   1,536,044 13,003 SH   DFND   13,003 0 0
CANTALOUPE INC COM 138103106   4,620,000 700,000 SH   DFND   700,000 0 0
CAPITAL CITY BK GROUP INC COM 139674105   17,308,868 608,610 SH   DFND   587,610 0 21,000
CARMAX INC COM 143130102   12,013,752 163,809 SH   DFND   163,809 0 0
CARRIAGE SVCS INC COM 143905107   9,800,626 365,150 SH   DFND   338,350 0 26,800
CASS INFORMATION SYS INC COM 14808P109   14,985,379 373,980 SH   DFND   368,130 0 5,850
CECO ENVIRONMENTAL CORP COM 125141101   7,212,500 250,000 SH   DFND   250,000 0 0
CENTENE CORP DEL COM 15135B101   27,855,746 420,147 SH   DFND   420,147 0 0
CENTERRA GOLD INC COM 152006102   15,266,832 2,271,850 SH   DFND   2,113,650 0 158,200
CENTRUS ENERGY CORP CL A 15643U104   6,091,875 142,500 SH   DFND   127,800 0 14,700
CENTURY CMNTYS INC COM 156504300   13,414,125 164,268 SH   DFND   164,268 0 0
CHAMPIONX CORPORATION COM 15872M104   6,203,495 186,796 SH   DFND   186,796 0 0
CHARLES RIV LABS INTL INC COM 159864107   7,167,913 34,698 SH   DFND   34,698 0 0
CHART INDS INC COM 16115Q308   17,348,225 120,190 SH   DFND   112,845 0 7,345
CISCO SYS INC COM 17275R102   1,749,556 36,825 SH   DFND   36,825 0 0
COMMUNITY TR BANCORP INC COM 204149108   7,593,566 173,925 SH   DFND   163,675 0 10,250
CONSTELLATION ENERGY CORP COM 21037T109   7,008,048 34,993 SH   DFND   34,993 0 0
COTERRA ENERGY INC COM 127097103   16,943,664 635,308 SH   DFND   635,308 0 0
CTS CORP COM 126501105   9,462,443 186,894 SH   DFND   186,894 0 0
CUSTOM TRUCK ONE SOURCE INC COM CL A 23204X103   5,220,000 1,200,000 SH   DFND   1,200,000 0 0
DELEK US HLDGS INC NEW COM 24665A103   4,333,000 175,000 SH   DFND   175,000 0 0
DENTSPLY SIRONA INC COM 24906P109   7,078,376 284,158 SH   DFND   284,158 0 0
DNOW INC COM 67011P100   8,479,648 617,600 SH   DFND   578,850 0 38,750
DOLLAR GEN CORP NEW COM 256677105   14,044,281 106,211 SH   DFND   106,211 0 0
DONALDSON INC COM 257651109   14,999,119 209,602 SH   DFND   209,602 0 0
DRIL-QUIP INC COM 262037104   4,758,810 255,850 SH   DFND   220,350 0 35,500
DULUTH HLDGS INC COM CL B 26443V101   466,364 126,386 SH   DFND   126,386 0 0
ENCOMPASS HEALTH CORP COM 29261A100   2,346,099 27,347 SH   DFND   27,347 0 0
ENERPAC TOOL GROUP CORP CL A COM 292765104   7,140,500 187,022 SH   DFND   187,022 0 0
EOG RES INC COM 26875P101   18,114,455 143,914 SH   DFND   143,914 0 0
ESSEX PPTY TR INC COM 297178105   21,280,596 78,180 SH   DFND   78,180 0 0
EVERTEC INC COM 30040P103   4,004,963 120,450 SH   DFND   110,250 0 10,200
EXELON CORP COM 30161N101   19,567,525 565,372 SH   DFND   565,372 0 0
EXXON MOBIL CORP COM 30231G102   1,551,587 13,478 SH   DFND   13,478 0 0
EZCORP INC CL A NON VTG 302301106   11,673,003 1,114,900 SH   DFND   1,041,150 0 73,750
FB FINL CORP COM 30257X104   13,131,995 336,459 SH   DFND   336,459 0 0
FIDELITY NATL INFORMATION SV COM 31620M106   13,952,000 185,138 SH   DFND   185,138 0 0
FIRST AMERN FINL CORP COM 31847R102   16,880,577 312,893 SH   DFND   312,893 0 0
FIRST INTERNET BANCORP COM 320557101   5,404,000 200,000 SH   DFND   200,000 0 0
FIRSTENERGY CORP COM 337932107   19,921,334 520,547 SH   DFND   520,547 0 0
FLOWSERVE CORP COM 34354P105   2,405,000 50,000 SH   DFND   50,000 0 0
FMC CORP COM NEW 302491303   8,758,477 152,189 SH   DFND   152,189 0 0
FORESTAR GROUP INC COM 346232101   9,597,000 300,000 SH   DFND   300,000 0 0
GATES INDL CORP PLC ORD SHS G39108108   3,162,000 200,000 SH   DFND   200,000 0 0
GLACIER BANCORP INC NEW COM 37637Q105   22,838,459 611,963 SH   DFND   611,963 0 0
GRAND CANYON ED INC COM 38526M106   8,585,437 61,364 SH   DFND   61,364 0 0
GRANITE CONSTR INC COM 387328107   8,285,327 133,699 SH   DFND   133,699 0 0
HAEMONETICS CORP MASS COM 405024100   14,287,554 172,701 SH   DFND   172,701 0 0
HANOVER INS GROUP INC COM 410867105   12,033,459 95,930 SH   DFND   95,930 0 0
HARVARD BIOSCIENCE INC COM 416906105   3,420,000 1,200,000 SH   DFND   1,200,000 0 0
HAYWARD HLDGS INC COM 421298100   3,874,906 315,033 SH   DFND   315,033 0 0
HEALTHCARE SVCS GROUP INC COM 421906108   8,212,725 776,250 SH   DFND   713,650 0 62,600
HEALTHSTREAM INC COM 42222N103   10,713,461 383,995 SH   DFND   383,995 0 0
HERITAGE FINL CORP WASH COM 42722X106   7,212,000 400,000 SH   DFND   400,000 0 0
HERSHEY CO COM 427866108   15,539,518 84,532 SH   DFND   84,532 0 0
HEXCEL CORP NEW COM 428291108   6,869,500 110,000 SH   DFND   110,000 0 0
HUDSON GLOBAL INC COM NEW 443787205   5,007,350 301,466 SH   DFND   287,626 0 13,840
HUNT J B TRANS SVCS INC COM 445658107   21,379,200 133,620 SH   DFND   133,620 0 0
I3 VERTICALS INC COM CL A 46571Y107   15,881,040 719,250 SH   DFND   677,550 0 41,700
INFUSYSTEM HLDGS INC COM 45685K102   3,415,000 500,000 SH   DFND   500,000 0 0
INGREDION INC COM 457187102   15,649,439 136,438 SH   DFND   136,438 0 0
INTEGER HLDGS CORP COM 45826H109   5,210,550 45,000 SH   DFND   45,000 0 0
INTERACTIVE BROKERS GROUP IN COM CL A 45841N107   3,313,755 27,029 SH   DFND   27,029 0 0
INTERNATIONAL PAPER CO COM 460146103   2,493,034 57,776 SH   DFND   57,776 0 0
INTL GNRL INSURANCE HLDNGS L SHS G4809J106   9,903,600 707,400 SH   DFND   644,900 0 62,500
JOHNSON & JOHNSON COM 478160104   4,649,788 31,813 SH   DFND   31,813 0 0
KENNAMETAL INC COM 489170100   14,357,187 609,906 SH   DFND   609,906 0 0
KIMBERLY-CLARK CORP COM 494368103   21,210,383 153,476 SH   DFND   153,476 0 0
KIRBY CORP COM 497266106   8,769,983 73,248 SH   DFND   73,248 0 0
KNIFE RIVER CORP COMMON STOCK 498894104   6,137,250 87,500 SH   DFND   87,500 0 0
KNIGHT-SWIFT TRANSN HLDGS IN CL A 499049104   13,071,302 261,845 SH   DFND   261,845 0 0
KNOWLES CORP COM 49926D109   3,689,118 213,738 SH   DFND   213,738 0 0
KULICKE & SOFFA INDS INC COM 501242101   6,042,893 122,848 SH   DFND   122,848 0 0
LAKELAND FINL CORP COM 511656100   1,443,505 23,464 SH   DFND   23,464 0 0
LAMAR ADVERTISING CO NEW CL A 512816109   7,649,442 63,996 SH   DFND   63,996 0 0
LEIDOS HLDGS INC COM 525327102   17,255,853 118,288 SH   DFND   118,288 0 0
LINCOLN EDL SVCS CORP COM 533535100   20,603,998 1,737,268 SH   DFND   1,686,268 0 51,000
LINDSAY CORP COM 535555106   6,566,461 53,438 SH   DFND   53,438 0 0
MAGNOLIA OIL & GAS CORP CL A 559663109   7,602,000 300,000 SH   DFND   300,000 0 0
MAMAS CREATIONS INC COM 56146T103   5,729,000 850,000 SH   DFND   850,000 0 0
MARTEN TRANS LTD COM 573075108   2,767,500 150,000 SH   DFND   150,000 0 0
MATERION CORP COM 576690101   5,196,403 48,057 SH   DFND   48,057 0 0
MGIC INVT CORP WIS COM 552848103   15,948,099 740,051 SH   DFND   740,051 0 0
MICRON TECHNOLOGY INC COM 595112103   2,146,307 16,318 SH   DFND   16,318 0 0
MIDDLEBY CORP COM 596278101   2,754,434 22,465 SH   DFND   22,465 0 0
MOHAWK INDS INC COM 608190104   43,270,634 380,937 SH   DFND   374,637 0 6,300
MURPHY OIL CORP COM 626717102   15,389,572 373,171 SH   DFND   373,171 0 0
NATIONAL FUEL GAS CO COM 636180101   7,958,343 146,860 SH   DFND   139,060 0 7,800
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106   19,519,113 473,535 SH   DFND   447,585 0 25,950
NEW GOLD INC CDA COM 644535106   7,312,500 3,750,000 SH   DFND   3,750,000 0 0
NORTHERN TR CORP COM 665859104   23,734,092 282,616 SH   DFND   282,616 0 0
NORTHWEST PIPE CO COM 667746101   15,534,481 457,300 SH   DFND   436,500 0 20,800
NOV INC COM 62955J103   39,420,828 2,073,689 SH   DFND   2,073,689 0 0
OIL DRI CORP AMER COM 677864100   5,835,395 91,050 SH   DFND   91,050 0 0
OLD REP INTL CORP COM 680223104   13,730,230 444,344 SH   DFND   444,344 0 0
ORACLE CORP COM 68389X105   1,692,706 11,988 SH   DFND   11,988 0 0
ORION S.A. COM L72967109   8,721,150 397,500 SH   DFND   376,500 0 21,000
OSISKO GOLD ROYALTIES LTD COM 68827L101   3,116,000 200,000 SH   DFND   200,000 0 0
OTTER TAIL CORP COM 689648103   935,374 10,679 SH   DFND   10,679 0 0
PACKAGING CORP AMER COM 695156109   13,368,869 73,230 SH   DFND   73,230 0 0
PARK AEROSPACE CORP COM 70014A104   9,806,125 716,822 SH   DFND   716,822 0 0
PATTERSON COS INC COM 703395103   10,050,804 416,700 SH   DFND   393,800 0 22,900
PERMA-FIX ENVIRONMENTAL SVCS COM NEW 714157203   5,065,000 500,000 SH   DFND   500,000 0 0
PERRIGO CO PLC SHS G97822103   32,855,018 1,279,401 SH   DFND   1,243,701 0 35,700
PHOTRONICS INC COM 719405102   6,970,509 282,550 SH   DFND   272,150 0 10,400
PNC FINL SVCS GROUP INC COM 693475105   7,648,528 49,193 SH   DFND   49,193 0 0
PORTLAND GEN ELECTRIC CO COM NEW 736508847   8,318,554 192,381 SH   DFND   192,381 0 0
POTBELLY CORP COM 73754Y100   6,406,736 797,850 SH   DFND   734,850 0 63,000
POTLATCHDELTIC CORPORATION COM 737630103   21,602,776 548,433 SH   DFND   548,433 0 0
PPG INDS INC COM 693506107   15,847,159 125,881 SH   DFND   125,881 0 0
PRIMO WATER CORPORATION COM 74167P108   14,209,000 650,000 SH   DFND   650,000 0 0
PRIMORIS SVCS CORP COM 74164F103   9,978,000 200,000 SH   DFND   200,000 0 0
PUBLIC STORAGE OPER CO COM 74460D109   28,710,634 99,811 SH   DFND   99,811 0 0
PURE CYCLE CORP COM NEW 746228303   4,775,000 500,000 SH   DFND   500,000 0 0
QORVO INC COM 74736K101   16,727,630 144,154 SH   DFND   144,154 0 0
QUEST DIAGNOSTICS INC COM 74834L100   31,203,986 227,966 SH   DFND   227,966 0 0
RADIAN GROUP INC COM 750236101   17,733,220 570,200 SH   DFND   554,350 0 15,850
SCIENCE APPLICATIONS INTL CO COM 808625107   4,396,723 37,403 SH   DFND   37,403 0 0
SEACOAST BKG CORP FLA COM NEW 811707801   21,095,887 892,381 SH   DFND   892,081 0 300
SEADRILL 2021 LTD COM G7997W102   5,150,000 100,000 SH   DFND   100,000 0 0
SEALED AIR CORP NEW COM 81211K100   15,008,615 431,406 SH   DFND   413,206 0 18,200
SENSIENT TECHNOLOGIES CORP COM 81725T100   10,673,270 143,864 SH   DFND   143,864 0 0
SILICON MOTION TECHNOLOGY CO SPONSORED ADR 82706C108   26,302,879 324,767 SH   DFND   324,767 0 0
SIMPSON MFG INC COM 829073105   1,240,044 7,358 SH   DFND   7,358 0 0
SKECHERS U S A INC CL A 830566105   5,540,106 80,152 SH   DFND   80,152 0 0
SKYWORKS SOLUTIONS INC COM 83088M102   1,139,553 10,692 SH   DFND   10,692 0 0
SMITH A O CORP COM 831865209   8,472,163 103,597 SH   DFND   103,597 0 0
STARBUCKS CORP COM 855244109   1,303,754 16,747 SH   DFND   16,747 0 0
STERICYCLE INC COM 858912108   23,894,337 411,050 SH   DFND   411,050 0 0
STEWART INFORMATION SVCS COR COM 860372101   12,416,000 200,000 SH   DFND   200,000 0 0
STIFEL FINL CORP COM 860630102   4,495,630 53,424 SH   DFND   53,424 0 0
SUNCOR ENERGY INC NEW COM 867224107   2,077,288 54,522 SH   DFND   54,522 0 0
SUNOPTA INC COM 8676EP108   2,700,000 500,000 SH   DFND   500,000 0 0
TE CONNECTIVITY LTD REG SHS H84989104   6,142,959 40,836 SH   DFND   40,836 0 0
TELEDYNE TECHNOLOGIES INC COM 879360105   21,134,823 54,474 SH   DFND   54,474 0 0
TERADATA CORP DEL COM 88076W103   8,800,116 254,633 SH   DFND   254,633 0 0
TEXAS CAPITAL BANKSHARES INC COM 88224Q107   30,608,274 500,626 SH   DFND   490,026 0 10,600
TEXAS INSTRS INC COM 882508104   1,906,589 9,801 SH   DFND   9,801 0 0
THERMON GROUP HLDGS INC COM 88362T103   7,449,149 242,170 SH   DFND   242,170 0 0
THOR INDS INC COM 885160101   5,951,737 63,689 SH   DFND   63,689 0 0
TIPTREE INC COM 88822Q103   5,359,250 325,000 SH   DFND   325,000 0 0
TRICO BANCSHARES COM 896095106   9,892,500 250,000 SH   DFND   250,000 0 0
TWIN DISC INC COM 901476101   2,231,886 189,464 SH   DFND   189,464 0 0
UGI CORP NEW COM 902681105   10,649,645 465,050 SH   DFND   439,200 0 25,850
UMH PPTYS INC COM 903002103   4,797,000 300,000 SH   DFND   300,000 0 0
UNILEVER PLC SPON ADR NEW 904767704   3,177,542 57,784 SH   DFND   57,784 0 0
VAIL RESORTS INC COM 91879Q109   6,474,773 35,945 SH   DFND   35,945 0 0
VIPER ENERGY INC CL A 927959106   18,303,381 487,700 SH   DFND   475,050 0 12,650
WATSCO INC COM 942622200   15,096,992 32,590 SH   DFND   32,590 0 0
WELLS FARGO CO NEW COM 949746101   1,845,782 31,079 SH   DFND   31,079 0 0
WILLIS TOWERS WATSON PLC LTD SHS G96629103   3,808,108 14,527 SH   DFND   14,527 0 0
WISDOMTREE TR INTL SMCAP DIV 97717W760   662,060 10,436 SH   DFND   10,436 0 0