PHOCAS FINANCIAL CORP.

PrivateCIK: 1356783

Location

ALAMEDA, CA

153

Positions

$720.71M

Total AUM (reported)

16.28M

Total Shares

Allocation by class

COM$579.68M80.4%

COM NEW$62.59M8.7%

CL A$25.07M3.5%

COM STK CL A$14.19M2.0%

SHS$13.53M1.9%

COMMON STOCK$8.94M1.2%

CL B$4.84M0.7%

Portfolio Concentration

Top 3$43.78M6.1%

4–10$84.99M11.8%

11–25$140.86M19.5%

Rest$451.08M62.6%

Top 3 weight

6.1%

Top 10 weight

17.9%

Voting Authority Distribution

Total shares with voting rights: 16.28M

Sole

Full voting authority

2.85M

% of voting shares17.5%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

13.43M

% of voting shares82.5%

Investment Discretion (by position count)

Sole153

Shared0

Other0

Dominant voting typeNone · 82.5% of voting shares

Institutional Holdings153

Rows:

DUCOMMUN INC DEL

SOLE

COM

Shares85.37K

TypeSH

Market value$15.81M

2.19%

Sole

13.63K

Shared

0.00

None

71.74K

AMNEAL PHARMACEUTICALS INC

SOLE

COM STK CL A

Shares819.48K

TypeSH

Market value$14.19M

1.97%

Sole

131.57K

Shared

0.00

None

687.91K

AAR CORP

SOLE

COM

Shares96.45K

TypeSH

Market value$13.79M

1.91%

Sole

15.34K

Shared

0.00

None

81.11K

MATERION CORP

SOLE

COM

Shares46.21K

TypeSH

Market value$13.74M

1.91%

Sole

7.39K

Shared

0.00

None

38.82K

STONEX GROUP INC

SOLE

COM

Shares103.70K

TypeSH

Market value$12.29M

1.71%

Sole

16.64K

Shared

0.00

None

87.06K

RALLIANT CORP

SOLE

COM

Shares163.96K

TypeSH

Market value$12.07M

1.68%

Sole

26.32K

Shared

0.00

None

137.64K

WINTRUST FINL CORP

SOLE

COM

Shares74.92K

TypeSH

Market value$12.04M

1.67%

Sole

12.02K

Shared

0.00

None

62.90K

NATIONAL ENERGY SERVICES REU

SOLE

SHS

Shares393.67K

TypeSH

Market value$11.78M

1.63%

Sole

62.94K

Shared

0.00

None

330.73K

AMERIS BANCORP

SOLE

COM

Shares129.95K

TypeSH

Market value$11.73M

1.63%

Sole

20.66K

Shared

0.00

None

109.29K

COLUMBIA BKG SYS INC

SOLE

COM

Shares353.63K

TypeSH

Market value$11.33M

1.57%

Sole

56.57K

Shared

0.00

None

297.06K

ALERUS FINL CORP

SOLE

COM

Shares354.15K

TypeSH

Market value$11.01M

1.53%

Sole

56.86K

Shared

0.00

None

297.29K

PATHWARD FINANCIAL INC

SOLE

COM

Shares123.66K

TypeSH

Market value$10.77M

1.49%

Sole

19.70K

Shared

0.00

None

103.97K

CARPENTER TECHNOLOGY CORP

SOLE

COM

Shares17.15K

TypeSH

Market value$10.58M

1.47%

Sole

2.74K

Shared

0.00

None

14.41K

SKYWEST INC

SOLE

COM

Shares103.67K

TypeSH

Market value$10.30M

1.43%

Sole

16.58K

Shared

0.00

None

87.09K

PREFERRED BK LOS ANGELES CA

SOLE

COM NEW

Shares96.56K

TypeSH

Market value$10.26M

1.42%

Sole

15.36K

Shared

0.00

None

81.20K

TIMKEN CO

SOLE

COM

Shares65.89K

TypeSH

Market value$9.57M

1.33%

Sole

10.54K

Shared

0.00

None

55.35K

ATLANTIC UN BANKSHARES CORP

SOLE

COM

Shares211.18K

TypeSH

Market value$8.93M

1.24%

Sole

33.91K

Shared

0.00

None

177.27K

F N B CORP

SOLE

COM

Shares465.23K

TypeSH

Market value$8.88M

1.23%

Sole

74.06K

Shared

0.00

None

391.16K

FIRST MERCHANTS CORP

SOLE

COM

Shares201.60K

TypeSH

Market value$8.81M

1.22%

Sole

32.25K

Shared

0.00

None

169.35K

RYDER SYS INC

SOLE

COM

Shares33.37K

TypeSH

Market value$8.80M

1.22%

Sole

5.33K

Shared

0.00

None

28.04K

ENPRO INC

SOLE

COM

Shares23.22K

TypeSH

Market value$8.75M

1.21%

Sole

3.70K

Shared

0.00

None

19.52K

TERRENO RLTY CORP

SOLE

COM

Shares133.78K

TypeSH

Market value$8.66M

1.20%

Sole

21.36K

Shared

0.00

None

112.42K

TEXAS CAP BANCSHARES INC

SOLE

COM

Shares83.29K

TypeSH

Market value$8.60M

1.19%

Sole

13.26K

Shared

0.00

None

70.03K

BLACK HILLS CORP

SOLE

COM

Shares113.88K

TypeSH

Market value$8.47M

1.18%

Sole

17K

Shared

0.00

None

96.88K

WHITE MTNS INS GROUP LTD

SOLE

COM

Shares4.08K

TypeSH

Market value$8.46M

1.17%

Sole

653.00

Shared

0.00

None

3.42K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
DUCOMMUN INC DELSOLE	COM	85.37K	SH	$15.81M 2.19%	13.63K	71.74K
AMNEAL PHARMACEUTICALS INCSOLE	COM STK CL A	819.48K	SH	$14.19M 1.97%	131.57K	687.91K
AAR CORPSOLE	COM	96.45K	SH	$13.79M 1.91%	15.34K	81.11K
MATERION CORPSOLE	COM	46.21K	SH	$13.74M 1.91%	7.39K	38.82K
STONEX GROUP INCSOLE	COM	103.70K	SH	$12.29M 1.71%	16.64K	87.06K
RALLIANT CORPSOLE	COM	163.96K	SH	$12.07M 1.68%	26.32K	137.64K
WINTRUST FINL CORPSOLE	COM	74.92K	SH	$12.04M 1.67%	12.02K	62.90K
NATIONAL ENERGY SERVICES REUSOLE	SHS	393.67K	SH	$11.78M 1.63%	62.94K	330.73K
AMERIS BANCORPSOLE	COM	129.95K	SH	$11.73M 1.63%	20.66K	109.29K
COLUMBIA BKG SYS INCSOLE	COM	353.63K	SH	$11.33M 1.57%	56.57K	297.06K
ALERUS FINL CORPSOLE	COM	354.15K	SH	$11.01M 1.53%	56.86K	297.29K
PATHWARD FINANCIAL INCSOLE	COM	123.66K	SH	$10.77M 1.49%	19.70K	103.97K
CARPENTER TECHNOLOGY CORPSOLE	COM	17.15K	SH	$10.58M 1.47%	2.74K	14.41K
SKYWEST INCSOLE	COM	103.67K	SH	$10.30M 1.43%	16.58K	87.09K
PREFERRED BK LOS ANGELES CASOLE	COM NEW	96.56K	SH	$10.26M 1.42%	15.36K	81.20K
TIMKEN COSOLE	COM	65.89K	SH	$9.57M 1.33%	10.54K	55.35K
ATLANTIC UN BANKSHARES CORPSOLE	COM	211.18K	SH	$8.93M 1.24%	33.91K	177.27K
F N B CORPSOLE	COM	465.23K	SH	$8.88M 1.23%	74.06K	391.16K
FIRST MERCHANTS CORPSOLE	COM	201.60K	SH	$8.81M 1.22%	32.25K	169.35K
RYDER SYS INCSOLE	COM	33.37K	SH	$8.80M 1.22%	5.33K	28.04K
ENPRO INCSOLE	COM	23.22K	SH	$8.75M 1.21%	3.70K	19.52K
TERRENO RLTY CORPSOLE	COM	133.78K	SH	$8.66M 1.20%	21.36K	112.42K
TEXAS CAP BANCSHARES INCSOLE	COM	83.29K	SH	$8.60M 1.19%	13.26K	70.03K
BLACK HILLS CORPSOLE	COM	113.88K	SH	$8.47M 1.18%	17K	96.88K
WHITE MTNS INS GROUP LTDSOLE	COM	4.08K	SH	$8.46M 1.17%	653.00	3.42K

Page 1 of 7

…