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 |
| ||||||||||||||||||||
| 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 |
| THE AARONS COMPANY INC | COM | 00258W108 | 7,395 | 300,000 | SH | DFND | 300,000 | 0 | 0 | ||
| ADVANCE AUTO PARTS INC | COM | 00751Y106 | 13,017 | 54,263 | SH | DFND | 54,263 | 0 | 0 | ||
| AMERISOURCBERGEN CORP | COM | 03073E105 | 8,649 | 65,084 | SH | DFND | 65,084 | 0 | 0 | ||
| ADVANCED ENERGY INDS | COM | 007973100 | 10,033 | 110,175 | SH | DFND | 106,475 | 0 | 3,700 | ||
| ALLISON TRANSMISSION HLDGS I | COM | 01973R101 | 4,747 | 130,601 | SH | DFND | 130,601 | 0 | 0 | ||
| ANGIODYNAMICS INC | COM | 03475V101 | 8,204 | 297,452 | SH | DFND | 297,452 | 0 | 0 | ||
| ANTHEM INC | COM | 036752103 | 1,688 | 3,641 | SH | DFND | 3,641 | 0 | 0 | ||
| SMITH A O CORP | COM | 831865209 | 5,215 | 60,740 | SH | DFND | 60,740 | 0 | 0 | ||
| ACCURAY INC | COM | 004397105 | 16,109 | 3,377,100 | SH | DFND | 3,217,100 | 0 | 160,000 | ||
| ARCONIC INC | COM | 03966V107 | 9,132 | 276,650 | SH | DFND | 264,250 | 0 | 12,400 | ||
| ASSOCIATED BANC CORP | COM | 045487105 | 19,723 | 873,100 | SH | DFND | 851,600 | 0 | 21,500 | ||
| ASTEC INDS INC | COM | 046224101 | 10,986 | 158,604 | SH | DFND | 158,604 | 0 | 0 | ||
| AMTECH SYS INC | COM PAR $0.01N | 032332504 | 2,470 | 250,000 | SH | DFND | 250,000 | 0 | 0 | ||
| ATN INTL INC | COM | 00215F107 | 11,814 | 295,732 | SH | DFND | 295,732 | 0 | 0 | ||
| ACTIVISION BLIZZARD INC | COM | 00507V109 | 5,974 | 89,798 | SH | DFND | 89,798 | 0 | 0 | ||
| AMERICAN VANGUARD CORP | COM | 030371108 | 10,247 | 625,190 | SH | DFND | 625,190 | 0 | 0 | ||
| AVANOS MED INC | COM | 05350V106 | 12,080 | 348,437 | SH | DFND | 348,437 | 0 | 0 | ||
| BED BATH & BEYOND INC | COM | 075896100 | 7,365 | 505,150 | SH | DFND | 503,400 | 0 | 1,750 | ||
| BARRETT BUSINESS SVCS INC | COM | 068463108 | 10,359 | 150,000 | SH | DFND | 150,000 | 0 | 0 | ||
| POPULAR INC | COM NEW | 733174700 | 8,084 | 98,533 | SH | DFND | 98,533 | 0 | 0 | ||
| BRADY CORP | CL A | 104674106 | 12,982 | 240,850 | SH | DFND | 240,850 | 0 | 0 | ||
| BERKSHIRE HATHAWY INC DEL | CL B NEW | 084670702 | 4,075 | 13,629 | SH | DFND | 13,629 | 0 | 0 | ||
| BERRY CORP | COM | 08579X101 | 11,981 | 1,422,900 | SH | DFND | 1,360,400 | 0 | 62,500 | ||
| CONAGRA BRANDS INC | COM | 205887102 | 3,924 | 114,896 | SH | DFND | 114,896 | 0 | 0 | ||
| CAL MAINE FOODS INC | COM NEW | 128030202 | 13,373 | 361,519 | SH | DFND | 361,519 | 0 | 0 | ||
| CASS INFORMATION SYS INC | COM | 14808P109 | 3,360 | 85,453 | SH | DFND | 85,453 | 0 | 0 | ||
| CBOE GLOBAL MKTS INC | COM | 12503M108 | 7,950 | 60,970 | SH | DFND | 60,970 | 0 | 0 | ||
| CAPITAL CITY BK GROUP INC | COM | 139674105 | 14,765 | 559,275 | SH | DFND | 539,225 | 0 | 20,050 | ||
| CHASE CORP | COM | 16150R104 | 1,844 | 18,524 | SH | DFND | 18,524 | 0 | 0 | ||
| COGENT COMMUNICATIONS HLDGS | COM NEW | 19239V302 | 5,851 | 79,959 | SH | DFND | 79,959 | 0 | 0 | ||
| CROSS CTRY HEALTHCARE INC | COM | 227483104 | 12,813 | 461,555 | SH | DFND | 461,555 | 0 | 0 | ||
| CENTURY CMNTYS INC | COM | 156504300 | 30,679 | 375,100 | SH | DFND | 366,600 | 0 | 8,500 | ||
| CECO ENVIRONMENTAL CORP | COM | 125141101 | 6,150 | 987,100 | SH | DFND | 902,400 | 0 | 84,700 | ||
| CENTERRA GOLD INC | COM | 152006102 | 14,791 | 1,925,950 | SH | DFND | 1,856,950 | 0 | 69,000 | ||
| CHAMPIONX CORPORATION | COM | 15872M104 | 15,220 | 753,079 | SH | DFND | 753,079 | 0 | 0 | ||
| COMCAST CORP NEW | CL A | 20030N101 | 2,525 | 50,177 | SH | DFND | 50,177 | 0 | 0 | ||
| CORE MOLDING TECHNOLOGIES INC | COM | 218683100 | 3,617 | 425,000 | SH | DFND | 425,000 | 0 | 0 | ||
| CENTENE CORP DEL | COM | 15135B101 | 4,991 | 60,570 | SH | DFND | 60,570 | 0 | 0 | ||
| CANADIAN NATL RY CO | COM | 136375102 | 1,904 | 15,498 | SH | DFND | 15,498 | 0 | 0 | ||
| AMERICOLD RLTY TR | COM | 03064D108 | 7,242 | 220,866 | SH | DFND | 220,866 | 0 | 0 | ||
| CYRUSONE INC | COM | 23283R100 | 13,458 | 150,000 | SH | DFND | 150,000 | 0 | 0 | ||
| COWEN INC | CL A New | 223622606 | 19,485 | 539,750 | SH | DFND | 525,950 | 0 | 13,800 | ||
| COMPUTER PROGRAMS & SYS INC. | COM | 205306103 | 4,395 | 150,000 | SH | DFND | 150,000 | 0 | 0 | ||
| CARTERS INC | COM | 146229109 | 6,073 | 60,000 | SH | DFND | 60,000 | 0 | 0 | ||
| CISCO SYS INC | COM | 17275R102 | 2,828 | 44,620 | SH | DFND | 44,620 | 0 | 0 | ||
| CARRIAGE SVCS INC | COM | 143905107 | 9,666 | 150,000 | SH | DFND | 150,000 | 0 | 0 | ||
| COMMUNITY TR BANCORP INC | COM | 204149108 | 1,729 | 39,640 | SH | DFND | 39,640 | 0 | 0 | ||
| CANTALOUPE INC | COM | 138103106 | 1,998 | 225,000 | SH | DFND | 225,000 | 0 | 0 | ||
| CARETRUST REIT INC | COM | 14174T107 | 6,849 | 300,000 | SH | DFND | 300,000 | 0 | 0 | ||
| COVENANT LOGISTICS GROUP INC | CL A | 22284P105 | 9,772 | 369,750 | SH | DFND | 351,450 | 0 | 18,300 | ||
| DIEBOLD NIXDORF INC | COM STK | 253651103 | 5,730 | 633,150 | SH | DFND | 605,850 | 0 | 27,300 | ||
| DENBURY INC | COM | 24790A101 | 7,659 | 100,000 | SH | DFND | 100,000 | 0 | 0 | ||
| QUEST DIAGNOSTICS INC | COM | 74834L100 | 12,366 | 71,476 | SH | DFND | 71,476 | 0 | 0 | ||
| WISDOMTREE TR | INTL SMCAP DIV | 97717W760 | 2,772 | 37,638 | SH | DFND | 37,638 | 0 | 0 | ||
| DOLLAR TREE INC | COM | 256746108 | 4,889 | 34,789 | SH | DFND | 34,789 | 0 | 0 | ||
| DRIL-QUIP INC | COM | 262037104 | 7,549 | 383,582 | SH | DFND | 383,582 | 0 | 0 | ||
| DXC TECHNOLOGY CO | COM | 23355L106 | 9,205 | 285,950 | SH | DFND | 271,350 | 0 | 14,600 | ||
| ENCOMPASS HEALTH CORP | COM | 29261A100 | 11,766 | 180,288 | SH | DFND | 180,288 | 0 | 0 | ||
| EASTMAN CHEM CO | COM | 277432100 | 6,242 | 51,625 | SH | DFND | 51,625 | 0 | 0 | ||
| ENERSYS | COM | 29275Y102 | 8,844 | 111,865 | SH | DFND | 106,665 | 0 | 5,200 | ||
| ENERPAC TOOL GROUP CORP | CL A COM | 292765104 | 6,443 | 317,693 | SH | DFND | 317,693 | 0 | 0 | ||
| EQUITY COMWLTH | COM SH BEN INT | 294628102 | 2,373 | 91,624 | SH | DFND | 91,624 | 0 | 0 | ||
| EMBRAER SA | SPONSORED ADS | 29082A107 | 8,875 | 500,000 | SH | DFND | 500,000 | 0 | 0 | ||
| EVERI HLDGS INC | COM | 30034T103 | 5,142 | 240,851 | SH | DFND | 240,851 | 0 | 0 | ||
| EVERTEC INC | COM | 30040P103 | 7,747 | 155,000 | SH | DFND | 155,000 | 0 | 0 | ||
| EXELON CORP | COM | 30161N101 | 10,532 | 182,342 | SH | DFND | 182,342 | 0 | 0 | ||
| EXPEDIA GROUP INC | COM NEW | 30212P303 | 7,339 | 40,608 | SH | DFND | 40,608 | 0 | 0 | ||
| EZCORP INC | CL A NON VTG | 302301106 | 6,534 | 886,600 | SH | DFND | 817,800 | 0 | 68,800 | ||
| FIRSTCASH HOLDINGS INC | COM | 33768G107 | 981 | 13,114 | SH | DFND | 13,114 | 0 | 0 | ||
| FIRSTENERGY CORP | COM | 337932107 | 11,567 | 278,129 | SH | DFND | 278,129 | 0 | 0 | ||
| F5 INC | COM | 315616102 | 10,540 | 43,073 | SH | DFND | 43,073 | 0 | 0 | ||
| FIRST INTST BANCSYSTEM INC | COM CL A | 32055Y201 | 11,883 | 292,187 | SH | DFND | 292,187 | 0 | 0 | ||
| FLOWSERVE CORP | COM | 34354P105 | 4,160 | 135,960 | SH | DFND | 135,960 | 0 | 0 | ||
| FMC CORP | COM | 302491303 | 2,609 | 23,740 | SH | DFND | 23,740 | 0 | 0 | ||
| FORESTAR GROUP INC | COM | 346232101 | 8,957 | 411,800 | SH | DFND | 390,400 | 0 | 21,400 | ||
| FTC SOLAR INC | COM | 30320C103 | 1,890 | 250,000 | SH | DFND | 250,000 | 0 | 0 | ||
| GENPACT LIMITED | SHS | G3922B107 | 10,212 | 192,397 | SH | DFND | 192,397 | 0 | 0 | ||
| GATX CORP | COM | 361448103 | 4,168 | 40,000 | SH | DFND | 40,000 | 0 | 0 | ||
| GLACIER BANCORP INC NEW | COM | 37637Q105 | 8,714 | 153,690 | SH | DFND | 153,690 | 0 | 0 | ||
| GEOSPACE TECHNOLOGIES CORP | COM | 37364X109 | 3,345 | 500,000 | SH | DFND | 500,000 | 0 | 0 | ||
| GRIFFON CORP | COM | 398433102 | 9,478 | 332,808 | SH | DFND | 332,808 | 0 | 0 | ||
| ACUSHNET HLDGS CORP | COM | 005098108 | 7,352 | 138,513 | SH | DFND | 138,513 | 0 | 0 | ||
| ALPHABET INC | CAP STK CL A | 02079K305 | 3,195 | 1,103 | SH | DFND | 1,103 | 0 | 0 | ||
| GORMAN RUPP CO | COM | 383082104 | 10,525 | 236,260 | SH | DFND | 236,260 | 0 | 0 | ||
| U S GLOBAL INVS INC | CL A | 902952100 | 1,980 | 450,000 | SH | DFND | 450,000 | 0 | 0 | ||
| GRANITE CONSTR INC | COM | 387328107 | 8,329 | 215,208 | SH | DFND | 215,208 | 0 | 0 | ||
| HAEMONETICS CORP MASS | COM | 405024100 | 21,544 | 406,192 | SH | DFND | 397,192 | 0 | 9,000 | ||
| HAIN CELESTIAL GROUP INC | COM | 405217100 | 12,444 | 292,033 | SH | DFND | 292,033 | 0 | 0 | ||
| HARVARD BIOSCIENCE INC | COM | 416906105 | 2,820 | 400,000 | SH | DFND | 400,000 | 0 | 0 | ||
| HOLLY FRONTIER CORP | COM | 436106108 | 5,875 | 179,210 | SH | DFND | 179,210 | 0 | 0 | ||
| HERITAGE FINL CORP WASH | COM | 42722X106 | 8,402 | 343,800 | SH | DFND | 338,700 | 0 | 5,100 | ||
| HIGHWOODS PPTYS INC | COM | 431284108 | 10,476 | 234,950 | SH | DFND | 223,300 | 0 | 11,650 | ||
| HANGER INC | COM NEW | 41043F208 | 5,379 | 296,705 | SH | DFND | 296,705 | 0 | 0 | ||
| HOOKER FURNISHINGS CORPORATI | COM | 439038100 | 1,535 | 65,953 | SH | DFND | 65,953 | 0 | 0 | ||
| HARLEY DAVIDSON INC | COM | 412822108 | 15,263 | 404,963 | SH | DFND | 404,963 | 0 | 0 | ||
| HELMERICH & PAYNE INC | COM | 423452101 | 2,433 | 102,675 | SH | DFND | 102,675 | 0 | 0 | ||
| HUDSON GLOBAL INC | COM NEW | 443787205 | 9,496 | 327,437 | SH | DFND | 312,997 | 0 | 14,440 | ||
| HEALTHSTREAM INC | COM | 42222N103 | 2,515 | 95,399 | SH | DFND | 95,399 | 0 | 0 | ||
| HEARTLAND EXPRESS INC | COM | 422347104 | 6,635 | 394,482 | SH | DFND | 394,482 | 0 | 0 | ||
| HOWMET AEROSPACE INC | COM | 443201108 | 8,601 | 270,232 | SH | DFND | 270,232 | 0 | 0 | ||
| INTERACTIVE BROKERS GROUP IN | COM CL A | 45841N107 | 10,648 | 134,077 | SH | DFND | 134,077 | 0 | 0 | ||
| INTELLICHECK INC | COM NEW | 45817G201 | 2,310 | 500,000 | SH | DFND | 500,000 | 0 | 0 | ||
| IHEARTMEDICA INC | Com CL A | 45174J509 | 9,725 | 462,200 | SH | DFND | 440,800 | 0 | 21,400 | ||
| FIRST INTERNET BANCORP | COM | 320557101 | 16,985 | 361,071 | SH | DFND | 341,321 | 0 | 19,750 | ||
| INDEPENDENT BANK CORP MASS | COM | 453836108 | 8,786 | 107,764 | SH | DFND | 107,764 | 0 | 0 | ||
| INFUSYSTEM HLDGS INC | COM | 45685K102 | 3,406 | 200,000 | SH | DFND | 200,000 | 0 | 0 | ||
| JOHNSON & JOHNSON | COM | 478160104 | 4,194 | 24,515 | SH | DFND | 24,515 | 0 | 0 | ||
| KENNAMETAL INC | COM | 489170100 | 11,856 | 330,164 | SH | DFND | 330,164 | 0 | 0 | ||
| KNOWLES CORP | COM | 49926D109 | 14,117 | 604,584 | SH | DFND | 604,584 | 0 | 0 | ||
| LAMAR ADVERTISING CO NEW | CL A | 512816109 | 12,448 | 102,622 | SH | DFND | 102,622 | 0 | 0 | ||
| LINDE PLC | SHS | G5494J103 | 2,187 | 6,313 | SH | DFND | 6,313 | 0 | 0 | ||
| LINCOLN EDL SVCS CORP | COM | 533535100 | 15,811 | 2,116,600 | SH | DFND | 2,021,100 | 0 | 95,500 | ||
| LIMBACH HLDGS INC | Com | 53263P105 | 2,935 | 326,058 | SH | DFND | 326,058 | 0 | 0 | ||
| LANDEC CORP | COM | 514766104 | 13,593 | 1,224,615 | SH | DFND | 1,164,225 | 0 | 60,390 | ||
| GRAND CANYON ED INC | COM | 38526M106 | 1,262 | 14,724 | SH | DFND | 14,724 | 0 | 0 | ||
| MASTERCRAFT BOAT HLDGS INC | COM | 57637H103 | 8,058 | 284,450 | SH | DFND | 271,650 | 0 | 12,800 | ||
| MARCHEX INC | CL B | 56624R108 | 2,363 | 952,936 | SH | DFND | 952,936 | 0 | 0 | ||
| M D C HLDGS INC | COM | 552676108 | 1,117 | 20,000 | SH | DFND | 20,000 | 0 | 0 | ||
| MEDTRONIC PLC | SHS | G5960L103 | 944 | 9,126 | SH | DFND | 9,126 | 0 | 0 | ||
| MDU RES GROUP INC | COM | 552690109 | 14,467 | 469,100 | SH | DFND | 445,700 | 0 | 23,400 | ||
| Methode Electrs Inc | COM | 591520200 | 17,634 | 358,633 | SH | DFND | 358,633 | 0 | 0 | ||
| MOHAWK INDS INC | COM | 608190104 | 3,999 | 21,949 | SH | DFND | 21,949 | 0 | 0 | ||
| MARTEN TRANS LTD | COM | 573075108 | 2,574 | 150,000 | SH | DFND | 150,000 | 0 | 0 | ||
| MGIC INVT CORP WIS | COM | 552848103 | 10,094 | 700,000 | SH | DFND | 700,000 | 0 | 0 | ||
| MATERION CORP | COM | 576690101 | 13,668 | 148,659 | SH | DFND | 148,659 | 0 | 0 | ||
| NOV INC | COM | 62955J103 | 18,655 | 1,376,746 | SH | DFND | 1,370,246 | 0 | 6,500 | ||
| NVENT ELECTRIC PLC | SHS | G6700G107 | 6,252 | 164,535 | SH | DFND | 164,535 | 0 | 0 | ||
| NORTHWESTERN CORP | COM NEW | 668074305 | 7,310 | 127,893 | SH | DFND | 127,893 | 0 | 0 | ||
| NORTHWEST PIPE CO | COM | 667746101 | 15,332 | 482,150 | SH | DFND | 454,350 | 0 | 27,800 | ||
| NEXSTAR MEDIA GROUP INC | CL A | 65336K103 | 2,775 | 18,381 | SH | DFND | 18,381 | 0 | 0 | ||
| OIL DRI CORP AMER | COM | 677864100 | 2,273 | 69,453 | SH | DFND | 69,453 | 0 | 0 | ||
| ORION ENERGY SYSTEMS INC | COM | 686275108 | 4,828 | 1,333,650 | SH | DFND | 1,183,650 | 0 | 150,000 | ||
| ORTHOFIX MED INC | COM | 68752M108 | 11,124 | 357,800 | SH | DFND | 336,550 | 0 | 21,250 | ||
| OLD NATL BANCORP IND | COM | 680033107 | 7,430 | 410,057 | SH | DFND | 410,057 | 0 | 0 | ||
| OSISKO GOLD ROYALTIES LTD | COM | 68827L101 | 9,835 | 802,855 | SH | DFND | 765,855 | 0 | 37,000 | ||
| ORACLE CORP | COM | 68389X105 | 2,386 | 27,364 | SH | DFND | 27,364 | 0 | 0 | ||
| OLD REP INTL CORP | COM | 680223104 | 14,123 | 574,572 | SH | DFND | 574,572 | 0 | 0 | ||
| PHILBRO ANIMAL HEALTH CORP | CL A COM | 71742Q106 | 15,853 | 776,334 | SH | DFND | 776,334 | 0 | 0 | ||
| POTBELLY CORP | COM | 73754Y100 | 2,455 | 440,000 | SH | DFND | 400,000 | 0 | 40,000 | ||
| POTLATCHDELTIC CORPORATION | COM | 737630103 | 19,577 | 325,094 | SH | DFND | 325,094 | 0 | 0 | ||
| PURE CYCLE CORP | COM NEW | 746228303 | 7,300 | 500,000 | SH | DFND | 500,000 | 0 | 0 | ||
| PATTERSON COS INC | COM | 703395103 | 11,922 | 406,200 | SH | DFND | 387,250 | 0 | 18,950 | ||
| PERMA-FIX ENVIRONMENTAL SVCS | COM NEW | 714157203 | 7,245 | 1,144,500 | SH | DFND | 1,048,500 | 0 | 96,000 | ||
| PARK AEROSPACE CORP | COM | 70014A104 | 10,347 | 783,885 | SH | DFND | 783,885 | 0 | 0 | ||
| PHOTRONICS INC | COM | 719405102 | 15,846 | 840,650 | SH | DFND | 803,950 | 0 | 36,700 | ||
| DOUGLAS DYNAMICS INC | COM | 25960R105 | 6,401 | 163,864 | SH | DFND | 163,864 | 0 | 0 | ||
| PORTLAND GEN ELECTRIC CO | COM NEW | 736508847 | 21,692 | 409,910 | SH | DFND | 409,910 | 0 | 0 | ||
| POST HLDGS INC | COM | 737446104 | 5,106 | 45,293 | SH | DFND | 45,293 | 0 | 0 | ||
| POWELL INDS INC | COM | 739128106 | 10,580 | 358,773 | SH | DFND | 358,773 | 0 | 0 | ||
| PPG INDS INC | COM | 693506107 | 10,411 | 60,374 | SH | DFND | 60,374 | 0 | 0 | ||
| PROASSURANCE CORP | COM | 74267C106 | 8,815 | 348,427 | SH | DFND | 348,427 | 0 | 0 | ||
| PERRIGO CO PLC | SHS | G97822103 | 31,700 | 814,914 | SH | DFND | 812,714 | 0 | 2,200 | ||
| PRIMO WATER CORPORATION | COM | 74167P108 | 8,309 | 471,315 | SH | DFND | 471,315 | 0 | 0 | ||
| PUBLIC STORAGE | COM | 74460D109 | 3,434 | 9,169 | SH | DFND | 9,169 | 0 | 0 | ||
| PS BUSINESS PKS INC CALIF | COM | 69360J107 | 17,443 | 94,711 | SH | DFND | 94,711 | 0 | 0 | ||
| PRETIUM RES INC | COM | 74139C102 | 14,090 | 1,000,000 | SH | DFND | 1,000,000 | 0 | 0 | ||
| PIONEER NAT RES CO | COM | 723787107 | 10,038 | 55,188 | SH | DFND | 55,188 | 0 | 0 | ||
| QUANTUM CORP | COM NEW | 747906501 | 4,692 | 850,000 | SH | DFND | 850,000 | 0 | 0 | ||
| RADIAN GROUP INC | COM | 750236101 | 17,647 | 835,150 | SH | DFND | 803,550 | 0 | 31,600 | ||
| REINSURANCE GRP OF AMERICA I | COM NEW | 759351604 | 2,591 | 23,660 | SH | DFND | 23,660 | 0 | 0 | ||
| RESOURCES CONNECTION INC | COM | 76122Q105 | 10,688 | 599,110 | SH | DFND | 599,110 | 0 | 0 | ||
| RYMAN HOSPITALITY PPTYS INC | COM | 78377T107 | 2,611 | 28,388 | SH | DFND | 28,388 | 0 | 0 | ||
| RAYMOND JAMES FINL INC | COM | 754730109 | 1,179 | 11,741 | SH | DFND | 11,741 | 0 | 0 | ||
| RELIANCE STEEL & ALUMINUM CO | COM | 759509102 | 7,452 | 45,938 | SH | DFND | 45,938 | 0 | 0 | ||
| SANDERSON FARMS INC | COM | 800013104 | 3,839 | 20,092 | SH | DFND | 20,092 | 0 | 0 | ||
| SONIC AUTOMOTIVE INC | CL A | 83545G102 | 5,077 | 102,678 | SH | DFND | 102,678 | 0 | 0 | ||
| SEACOAST BKG CORP FLA | COM NEW | 811707801 | 12,881 | 363,972 | SH | DFND | 363,972 | 0 | 0 | ||
| SCHNITZER STEEL INDS INC | CL A | 806882106 | 3,996 | 76,958 | SH | DFND | 76,958 | 0 | 0 | ||
| SUNSTONE HOTEL INVS INC NEW | COM | 867892101 | 14,249 | 1,214,707 | SH | DFND | 1,191,507 | 0 | 23,200 | ||
| SHYFT GROUP INC | COM | 825698103 | 14,739 | 300,000 | SH | DFND | 300,000 | 0 | 0 | ||
| SNAP ON INC | COM | 833034101 | 8,778 | 40,755 | SH | DFND | 40,755 | 0 | 0 | ||
| SMITH & NEPHEW PLC | SPDN ADR NEW | 83175M205 | 5,560 | 160,593 | SH | DFND | 160,593 | 0 | 0 | ||
| SPECTRUM BRANDS HLDGS INC NE | COM | 84790A105 | 18,484 | 181,710 | SH | DFND | 181,710 | 0 | 0 | ||
| STERICYCLE INC | COM | 858912108 | 3,400 | 57,007 | SH | DFND | 57,007 | 0 | 0 | ||
| STATE AUTO FINL CORP | COM | 855707105 | 8,883 | 171,850 | SH | DFND | 171,850 | 0 | 0 | ||
| STERLING CONSTR INC | COM | 859241101 | 6,575 | 250,000 | SH | DFND | 250,000 | 0 | 0 | ||
| SUNCOR ENERGY INC NEW | COM | 867224107 | 1,676 | 66,965 | SH | DFND | 66,965 | 0 | 0 | ||
| SIERRA WIRELESS INC | COM | 826516106 | 8,540 | 484,650 | SH | DFND | 456,100 | 0 | 28,550 | ||
| SKYWORKS SOLUTIONS INC | COM | 83088M102 | 11,128 | 71,726 | SH | DFND | 71,726 | 0 | 0 | ||
| SCHWEITZER-MAUDUIT INTL INC | COM | 808541106 | 8,413 | 281,375 | SH | DFND | 281,375 | 0 | 0 | ||
| BANCORP INC DEL | COM | 05969A105 | 5,442 | 215,000 | SH | DFND | 200,000 | 0 | 15,000 | ||
| TRICO BANCSHARES | COM | 896095106 | 8,592 | 200,000 | SH | DFND | 200,000 | 0 | 0 | ||
| TERADATA CORP DEL | COM | 88076W103 | 6,332 | 149,091 | SH | DFND | 149,091 | 0 | 0 | ||
| TENNECO INC | CL A VTG COM STK | 880349105 | 6,780 | 600,000 | SH | DFND | 600,000 | 0 | 0 | ||
| HANOVER INS GROUP INC | COM | 410867105 | 11,406 | 87,032 | SH | DFND | 87,032 | 0 | 0 | ||
| THOR INDS INC | COM | 885160101 | 12,077 | 116,380 | SH | DFND | 112,155 | 0 | 4,225 | ||
| THERMON GROUP HLDGS INC | COM | 88362T103 | 4,663 | 275,450 | SH | DFND | 249,600 | 0 | 25,850 | ||
| TREEHOUSE FOODS INC | COM | 89469A104 | 12,657 | 312,283 | SH | DFND | 312,283 | 0 | 0 | ||
| TRIMAS CORP | COM NEW | 896215209 | 9,863 | 266,570 | SH | DFND | 266,570 | 0 | 0 | ||
| TRISTATE CAP HLDGS INC | COM | 89678F100 | 9,078 | 300,000 | SH | DFND | 300,000 | 0 | 0 | ||
| TWIN DISC INC | COM | 901476101 | 4,502 | 410,738 | SH | DFND | 410,738 | 0 | 0 | ||
| UNIFI INC | COM NEW | 904677200 | 4,399 | 190,000 | SH | DFND | 175,000 | 0 | 15,000 | ||
| AMERCO | COM | 023586100 | 8,395 | 11,560 | SH | DFND | 11,560 | 0 | 0 | ||
| UNILEVER PLC | SPON ADR NEW | 904767704 | 3,666 | 68,161 | SH | DFND | 68,161 | 0 | 0 | ||
| USANA HEALTH SCIENCES INC | COM | 90328M107 | 6,072 | 60,000 | SH | DFND | 60,000 | 0 | 0 | ||
| VONAGE HLDGS CORP | COM | 92886T201 | 20,790 | 1,000,000 | SH | DFND | 1,000,000 | 0 | 0 | ||
| VISTRA CORP | COM | 92840M102 | 18,444 | 810,000 | SH | DFND | 810,000 | 0 | 0 | ||
| WELLS FARGO CO NEW | COM | 949746101 | 1,886 | 39,312 | SH | DFND | 39,312 | 0 | 0 | ||
| WIDEOPENWEST INC | COM | 96758W101 | 6,572 | 305,375 | SH | DFND | 284,175 | 0 | 21,200 | ||
| SELECT SECTOR SPDR TR | SBI CONS STPLS | 81369Y308 | 281 | 3,644 | SH | DFND | 3,644 | 0 | 0 | ||
| DENTSPLY SIRONA INC | COM | 24906P109 | 7,861 | 140,895 | SH | DFND | 140,895 | 0 | 0 | ||
| ZOVIO INC | COM | 98979V102 | 2,291 | 1,804,102 | SH | DFND | 1,622,302 | 0 | 181,800 | ||