The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||||||
| UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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| 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 Laboratories (ABT) | COM | 002824100 | 1,279,534 | 11,223 | SH | DFND | 11,223 | 0 | 0 | ||
| Advanced Drainage Systems (WMS | COM | 00790r104 | 1,149,783 | 7,316 | SH | DFND | 7,316 | 0 | 0 | ||
| Akamai Technologies, Inc. (AK | COM | 00971t101 | 1,437,124 | 14,236 | SH | DFND | 14,236 | 0 | 0 | ||
| Alight, Inc. (ALIT) | COM | 01626w101 | 5,289,690 | 714,823 | SH | DFND | 714,823 | 0 | 0 | ||
| Alphabet, Inc. - Cl C (GOOG) | COM | 02079K107 | 8,778,478 | 52,506 | SH | DFND | 52,506 | 0 | 0 | ||
| Amazon.com, Inc. (AMZN) | COM | 023135106 | 4,130,191 | 22,166 | SH | DFND | 22,166 | 0 | 0 | ||
| Amdocs Ltd (DOX) | COM | G02602103 | 3,391,075 | 38,764 | SH | DFND | 38,764 | 0 | 0 | ||
| American Homes 4 Rent (AMH) | COM | 02665t306 | 3,866,526 | 100,717 | SH | DFND | 100,717 | 0 | 0 | ||
| Blackbaud, Inc. (BLKB) | COM | 09227q100 | 2,588,583 | 30,569 | SH | DFND | 30,569 | 0 | 0 | ||
| Broadcom Inc. (AVGO) | COM | 11135f101 | 294,975 | 1,710 | SH | DFND | 1,710 | 0 | 0 | ||
| Cannae Holdings Inc. (CNNE) | COM | 13765n107 | 583,217 | 30,599 | SH | DFND | 30,599 | 0 | 0 | ||
| Chubb Limited (CB) | COM | H1467J104 | 4,509,843 | 15,638 | SH | DFND | 15,638 | 0 | 0 | ||
| Coca Cola Co. (KO) | COM | 191216100 | 234,479 | 3,263 | SH | DFND | 3,263 | 0 | 0 | ||
| Darling Ingredients Inc. (DAR) | COM | 237266101 | 1,102,760 | 29,676 | SH | DFND | 29,676 | 0 | 0 | ||
| DuPont de Nemours, Inc. (DD) | COM | 26614n102 | 7,671,310 | 86,088 | SH | DFND | 86,088 | 0 | 0 | ||
| Dun & Bradstreet Holdings Inc. | COM | 26484t106 | 3,369,622 | 292,756 | SH | DFND | 292,756 | 0 | 0 | ||
| EMCOR Group, Inc. (EME) | COM | 29084q100 | 17,641,828 | 40,977 | SH | DFND | 40,977 | 0 | 0 | ||
| EOG Resources (EOG) | COM | 26875p101 | 5,118,559 | 41,638 | SH | DFND | 41,638 | 0 | 0 | ||
| Emerson Electric (EMR) | COM | 291011104 | 2,944,131 | 26,919 | SH | DFND | 26,919 | 0 | 0 | ||
| First Tr NASDAQ Cybersecurity | COM | 33734x846 | 218,381 | 3,687 | SH | DFND | 3,687 | 0 | 0 | ||
| Flex Ltd. (FLEX) | COM | y2573f102 | 2,513,067 | 75,174 | SH | DFND | 75,174 | 0 | 0 | ||
| Invesco Solar ETF (TAN) | COM | 46138g706 | 1,478,069 | 34,286 | SH | DFND | 34,286 | 0 | 0 | ||
| JPMorgan Chase & Co. (JPM) | COM | 46625h100 | 247,339 | 1,173 | SH | DFND | 1,173 | 0 | 0 | ||
| Johnson & Johnson (JNJ) | COM | 478160104 | 1,051,607 | 6,489 | SH | DFND | 6,489 | 0 | 0 | ||
| Johnson Controls Int'l plc (JC | COM | g51502105 | 9,579,946 | 123,437 | SH | DFND | 123,437 | 0 | 0 | ||
| KBR, Inc. (KBR) | COM | 48242w106 | 18,743,177 | 287,781 | SH | DFND | 287,781 | 0 | 0 | ||
| Kenvue Inc (KVUE) | COM | 49177j102 | 3,909,290 | 169,014 | SH | DFND | 169,014 | 0 | 0 | ||
| Levi Strauss & Co. Class A (LE | COM | 52736r102 | 5,157,640 | 236,589 | SH | DFND | 236,589 | 0 | 0 | ||
| MYR Group, Inc. (MYRG) | COM | 55405w104 | 8,429,375 | 82,455 | SH | DFND | 82,455 | 0 | 0 | ||
| Medtronic plc (MDT) | COM | G5960L103 | 4,198,099 | 46,630 | SH | DFND | 46,630 | 0 | 0 | ||
| Microsoft Corp. (MSFT) | COM | 594918104 | 349,834 | 813 | SH | DFND | 813 | 0 | 0 | ||
| Minerals Technologies Inc. (M | COM | 603158106 | 2,350,727 | 30,438 | SH | DFND | 30,438 | 0 | 0 | ||
| Nextera Energy Inc. (NEE) | COM | 65339f101 | 4,300,126 | 50,871 | SH | DFND | 50,871 | 0 | 0 | ||
| Nextracker Inc. Class A (NXT) | COM | 65290e101 | 3,119,162 | 83,222 | SH | DFND | 83,222 | 0 | 0 | ||
| OceanFirst Financial (OCFC) | COM | 675234108 | 557,923 | 30,012 | SH | DFND | 30,012 | 0 | 0 | ||
| Phillips 66 (PSX) | COM | 718546104 | 452,319 | 3,441 | SH | DFND | 3,441 | 0 | 0 | ||
| Primis Financial Corp. (FRST) | COM | 74167b109 | 3,911,607 | 321,150 | SH | DFND | 321,150 | 0 | 0 | ||
| Primo Water Corp. (PRMW) | COM | 74167p108 | 9,293,061 | 368,042 | SH | DFND | 368,042 | 0 | 0 | ||
| Pure Storage, Inc. | COM | 74624m102 | 311,237 | 6,195 | SH | DFND | 6,195 | 0 | 0 | ||
| Republic Services, Inc. (RSG) | COM | 760759100 | 22,198,243 | 110,527 | SH | DFND | 110,527 | 0 | 0 | ||
| Rush Enterprises Class A (RUSH | COM | 781846209 | 1,470,470 | 27,834 | SH | DFND | 27,834 | 0 | 0 | ||
| Rush Enterprises Class B (RUSH | COM | 781846308 | 830,878 | 17,328 | SH | DFND | 17,328 | 0 | 0 | ||
| Sherwin-Williams Co. (SHW) | COM | 824348106 | 1,697,668 | 4,448 | SH | DFND | 4,448 | 0 | 0 | ||
| Shoals Technology Grp, Inc. Cl | COM | 82489w107 | 873,915 | 155,778 | SH | DFND | 155,778 | 0 | 0 | ||
| Shore Bancshares (SHBI) | COM | 825107105 | 2,209,762 | 157,953 | SH | DFND | 157,953 | 0 | 0 | ||
| T-Mobile USA, Inc. (TMUS) | COM | 872590104 | 7,786,582 | 37,733 | SH | DFND | 37,733 | 0 | 0 | ||
| Teleflex, Inc. (TFX) | COM | 879369106 | 469,661 | 1,899 | SH | DFND | 1,899 | 0 | 0 | ||
| US Foods Holding Corp. | COM | 912008109 | 1,505,889 | 24,486 | SH | DFND | 24,486 | 0 | 0 | ||
| United Parcel Service, Inc. (U | COM | 911312106 | 1,873,039 | 13,738 | SH | DFND | 13,738 | 0 | 0 | ||
| Vanguard Consumer Discretionar | COM | 92204a108 | 358,185 | 1,052 | SH | DFND | 1,052 | 0 | 0 | ||
| Vanguard Health Care ETF (VHT | COM | 92204a504 | 393,951 | 1,396 | SH | DFND | 1,396 | 0 | 0 | ||
| Vanguard Information Technolog | COM | 92204a702 | 941,365 | 1,605 | SH | DFND | 1,605 | 0 | 0 | ||
| Visa Inc. - Class A (V) | COM | 92826c839 | 3,953,231 | 14,378 | SH | DFND | 14,378 | 0 | 0 | ||
| W. R. Berkley Corp. (WRB) | COM | 084423102 | 7,378,584 | 130,065 | SH | DFND | 130,065 | 0 | 0 | ||
| WSFS Financial (WSFS) | COM | 929328102 | 1,766,854 | 34,651 | SH | DFND | 34,651 | 0 | 0 | ||
| Wyndham Hotels & Resorts (WH) | COM | 98311a105 | 4,491,800 | 57,484 | SH | DFND | 57,484 | 0 | 0 | ||
| Ziff Davis, Inc. (ZD) | COM | 48123v102 | 5,380,044 | 110,564 | SH | DFND | 110,564 | 0 | 0 | ||
| Zimmer Biomet Holdings, Inc. ( | COM | 98956p102 | 3,123,101 | 28,931 | SH | DFND | 28,931 | 0 | 0 | ||
| iShares U.S. B-D & Sec Ex ETF | COM | 464288794 | 221,252 | 1,721 | SH | DFND | 1,721 | 0 | 0 | ||
| nVent Electric plc (NVT) | COM | G6700G107 | 1,603,474 | 22,822 | SH | DFND | 22,822 | 0 | 0 | ||
| Cracker Barrel Old Country Sto | CONV | 22410JAB2 | 6,641,000 | 7,250,000 | PRN | DFND | 7,250,000 | 0 | 0 | ||
| DigitalOcean Holdings, Inc. | CONV | 25402DAB8 | 11,778,337 | 13,339,000 | PRN | DFND | 13,339,000 | 0 | 0 | ||
| Haemonetics Corp. | CONV | 405024AB6 | 555,680 | 604,000 | PRN | DFND | 604,000 | 0 | 0 | ||
| Pebblebrook Hotel Trust | CONV | 70509VAA8 | 12,960,878 | 14,134,000 | PRN | DFND | 14,134,000 | 0 | 0 | ||
| Snap Inc. | CONV | 83304AAF3 | 3,726,208 | 4,357,000 | PRN | DFND | 4,357,000 | 0 | 0 | ||
