SEC FORM 13F-HR

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 COVER PAGE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	July 31, 2015
Estimated average burden
hours per response:		23.8

Report for the Calendar Year or Quarter Ended:

09-30-2024

Check here if Amendment		Amendment Number:
This Amendment (Check only one.):		is a restatement.
		adds new holdings entries.

Institutional Investment Manager Filing this Report:
Name:	HENNESSY ADVISORS INC
Address:	7250 REDWOOD BLVD.
	SUITE 200
	NOVATO, CA 94945
Form 13F File Number:	028-06715

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:
Name:	Teresa M. Nilsen
Title:	President and Chief Operating Officer
Phone:	415-899-1555
Signature, Place, and Date of Signing:
Teresa M. Nilsen		NOVATO,, CA	10-15-2024
[Signature]		[City, State]	[Date]

Report Type (Check only one.):
X	13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)
	13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)
	13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

Form 13F Summary Page
	Report Summary:
	Number of Other Included Managers:	0
	Form 13F Information Table Entry Total:	300
	Form 13F Information Table Value Total:	3,122,765,728
		(thousands)

List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]
NONE

SEC FORM 13-F Information Table

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
3M Co	COM	88579Y101	8,195,165	59,950	SH		SOLE		0	59,950	0
AbbVie Inc	COM	00287Y109	6,161,376	31,200	SH		SOLE		0	31,200	0
Abercrombie & Fitch Co	CL A	002896207	80,288,610	573,900	SH		SOLE		0	573,900	0
Algonquin Power & Utilities Corp	ADR	015857105	640,724	117,564	SH		SOLE		0	117,564	0
Alliant Energy Corp	COM	018802108	1,890,494	31,150	SH		SOLE		0	31,150	0
Allstate Corp/The	COM	020002101	10,392,820	54,800	SH		SOLE		0	54,800	0
Altria Group Inc	COM	02209S103	9,524,064	186,600	SH		SOLE		0	186,600	0
Ameren Corp	COM	023608102	3,636,587	41,580	SH		SOLE		0	41,580	0
American Eagle Outfitters Inc	COM	02553E106	8,087,268	361,200	SH		SOLE		0	361,200	0
American Woodmark Corp	COM	030506109	8,840,370	94,600	SH		SOLE		0	94,600	0
Amgen Inc	COM	031162100	4,220,951	13,100	SH		SOLE		0	13,100	0
Amneal Pharmaceuticals Inc	COM STK CL A	03168L105	13,012,480	1,564,000	SH		SOLE		0	1,564,000	0
Antero Midstream Corp	COM	03676B102	5,085,395	337,900	SH		SOLE		0	337,900	0
Antero Resources Corp	COM	03674X106	664,680	23,200	SH		SOLE		0	23,200	0
Applied Industrial Technologies Inc	COM	03820C105	46,076,345	206,500	SH		SOLE		0	206,500	0
Arlo Technologies Inc	COM	04206A101	122,154	10,087	SH		SOLE		0	10,087	0
Associated Banc-Corp	COM	045487105	3,231,000	150,000	SH		SOLE		0	150,000	0
Assurant Inc	COM	04621X108	10,042,430	50,500	SH		SOLE		0	50,500	0
AT&T Inc	COM	00206R102	6,933,520	315,160	SH		SOLE		0	315,160	0
Atmos Energy Corp	COM	049560105	24,521,986	176,786	SH		SOLE		0	176,786	0
AutoZone Inc	COM	053332102	3,150,040	1,000	SH		SOLE		0	1,000	0
Avangrid Inc	COM	05351W103	2,970,570	83,000	SH		SOLE		0	83,000	0
Avista Corp	COM	05379B107	983,165	25,372	SH		SOLE		0	25,372	0
AZZ Inc	COM	002474104	10,169,291	123,100	SH		SOLE		0	123,100	0
Baker Hughes Co	COM	05722G100	5,932,215	164,100	SH		SOLE		0	164,100	0
Banc of California Inc	COM	05990K106	4,124,400	280,000	SH		SOLE		0	280,000	0
Bank of America Corp	COM	060505104	7,670,144	193,300	SH		SOLE		0	193,300	0
BankUnited Inc	COM	06652K103	3,789,760	104,000	SH		SOLE		0	104,000	0
Banner Corp	COM	06652V208	3,275,800	55,000	SH		SOLE		0	55,000	0
BCE Inc	ADR	05534B760	4,374,360	125,700	SH		SOLE		0	125,700	0
Berkshire Hathaway Inc	COM	084670702	1,380,780	3,000	SH		SOLE		0	3,000	0
BERKSHIRE HATHAWAY INC - CL A	COM	084670108	22,117,760	32	SH		SOLE		0	32	0
Best Buy Co Inc	COM	086516101	3,656,820	35,400	SH		SOLE		0	35,400	0
Black Hills Corp	COM	092113109	2,728,825	44,647	SH		SOLE		0	44,647	0
Blue Bird Corp	COM	095306106	11,822,140	246,500	SH		SOLE		0	246,500	0
BP PLC	SPONSORED ADR	055622104	4,639,442	147,800	SH		SOLE		0	147,800	0
Bristol-Myers Squibb Co	COM	110122108	5,272,306	101,900	SH		SOLE		0	101,900	0
British American Tobacco PLC	SPONSORED ADR	110448107	6,174,704	168,800	SH		SOLE		0	168,800	0
Brookdale Senior Living Inc	COM	112463104	9,532,481	1,403,900	SH		SOLE		0	1,403,900	0
Brookline Bancorp Inc	COM	11373M107	3,319,610	329,000	SH		SOLE		0	329,000	0
Builders FirstSource Inc	COM	12008R107	3,062,988	15,800	SH		SOLE		0	15,800	0
California BanCorp	COM	84252A106	2,810,100	190,000	SH		SOLE		0	190,000	0
California Resources Corp	COM STOCK	13057Q305	30,590,010	583,000	SH		SOLE		0	583,000	0
Canadian Natural Resources Ltd	ADR	136385101	5,878,170	177,000	SH		SOLE		0	177,000	0
Capital One Financial Corp	COM	14040H105	823,515	5,500	SH		SOLE		0	5,500	0
Carpenter Technology Corp	COM	144285103	78,800,604	493,800	SH		SOLE		0	493,800	0
Caterpillar Inc	COM	149123101	3,559,192	9,100	SH		SOLE		0	9,100	0
Celestica Inc	COM	15101Q207	10,540,944	206,200	SH		SOLE		0	206,200	0
Cellebrite DI Ltd	ORDINARY SHARES	M2197Q107	180,878	10,741	SH		SOLE		0	10,741	0
Cencora Inc	COM	03073E105	2,723,468	12,100	SH		SOLE		0	12,100	0
Cenovus Energy Inc	ADR	15135U109	5,385,387	321,900	SH		SOLE		0	321,900	0
CenterPoint Energy Inc	COM	15189T107	12,672,018	430,728	SH		SOLE		0	430,728	0
CF Industries Holdings Inc	COM	125269100	2,882,880	33,600	SH		SOLE		0	33,600	0
Charles Schwab Corp/The	COM	808513105	1,101,770	17,000	SH		SOLE		0	17,000	0
Cheniere Energy Inc	COM	16411R208	28,926,724	160,847	SH		SOLE		0	160,847	0
Cheniere Energy Partners LP	COM UNIT	16411Q101	516,432	10,600	SH		SOLE		0	10,600	0
Chesapeake Utilities Corp	COM	165303108	3,496,379	28,158	SH		SOLE		0	28,158	0
Chevron Corp	COM	166764100	9,923,347	67,382	SH		SOLE		0	67,382	0
Cimpress PLC	SHS EURO	G2143T103	8,462,336	103,300	SH		SOLE		0	103,300	0
Cinemark Holdings Inc	COM	17243V102	48,655,968	1,747,700	SH		SOLE		0	1,747,700	0
Cisco Systems Inc	COM	17275R102	10,931,388	205,400	SH		SOLE		0	205,400	0
Citigroup Inc	COM	172967424	7,649,720	122,200	SH		SOLE		0	122,200	0
Citizens Financial Group Inc	COM	174610105	616,050	15,000	SH		SOLE		0	15,000	0
Clear Secure Inc	COM CL A	18467V109	231,118	6,974	SH		SOLE		0	6,974	0
CMS Energy Corp	COM	125896100	11,738,565	166,198	SH		SOLE		0	166,198	0
Coca-Cola Co/The	COM	191216100	10,796,965	150,250	SH		SOLE		0	150,250	0
Coca-Cola Consolidated Inc	COM	191098102	66,156,998	50,256	SH		SOLE		0	50,256	0
Cognizant Technology Solutions Corp	CL A	192446102	2,724,454	35,300	SH		SOLE		0	35,300	0
Coinbase Global Inc	COM CL A	19260Q107	1,069,020	6,000	SH		SOLE		0	6,000	0
Columbia Banking System Inc	COM	197236102	1,566,600	60,000	SH		SOLE		0	60,000	0
Comcast Corp	CL A	20030N101	4,937,214	118,200	SH		SOLE		0	118,200	0
Comfort Systems USA Inc	COM	199908104	75,181,410	192,600	SH		SOLE		0	192,600	0
Comstock Resources Inc	COM	205768302	445,200	40,000	SH		SOLE		0	40,000	0
ConnectOne Bancorp Inc	COM	20786W107	2,254,500	90,000	SH		SOLE		0	90,000	0
ConocoPhillips	COM	20825C104	3,268,418	31,045	SH		SOLE		0	31,045	0
CONSOL Energy Inc	COM	20854L108	33,341,490	318,600	SH		SOLE		0	318,600	0
Consolidated Edison Inc	COM	209115104	14,498,645	139,236	SH		SOLE		0	139,236	0
CVS Health Corp	COM	126650100	4,074,624	64,800	SH		SOLE		0	64,800	0
Darden Restaurants Inc	COM	237194105	2,708,145	16,500	SH		SOLE		0	16,500	0
Dave & Buster's Entertainment Inc	COM	238337109	5,001,945	146,900	SH		SOLE		0	146,900	0
DAVITA INC	COM	23918K108	11,245,598	68,600	SH		SOLE		0	68,600	0
Deere & Co	COM	244199105	2,837,844	6,800	SH		SOLE		0	6,800	0
Dell Technologies Inc	COM	24703L202	13,312,042	112,300	SH		SOLE		0	112,300	0
Devon Energy Corp	COM	25179M103	2,374,584	60,700	SH		SOLE		0	60,700	0
Diamondback Energy Inc	COM	25278X109	710,288	4,120	SH		SOLE		0	4,120	0
Dime Community Bancshares Inc	COM	25432X102	1,872,000	65,000	SH		SOLE		0	65,000	0
Dollar General Corp	COM	256677105	1,674,486	19,800	SH		SOLE		0	19,800	0
Dominion Energy Inc	COM	25746U109	3,726,126	64,477	SH		SOLE		0	64,477	0
Dow Inc	COM	260557103	4,086,324	74,800	SH		SOLE		0	74,800	0
DR Horton Inc	COM	23331A109	3,262,167	17,100	SH		SOLE		0	17,100	0
Dream Finders Homes Inc	COM CL A	26154D100	7,987,926	220,600	SH		SOLE		0	220,600	0
DT Midstream Inc	COMMON STOCK	23345M107	13,049,694	165,900	SH		SOLE		0	165,900	0
DTE Energy Co	COM	233331107	6,664,993	51,904	SH		SOLE		0	51,904	0
Duke Energy Corp	COM	26441C204	13,177,291	114,287	SH		SOLE		0	114,287	0
Eagle Bancorp Inc	COM	268948106	2,822,500	125,000	SH		SOLE		0	125,000	0
Eastern Bankshares Inc	COM	27627N105	3,687,750	225,000	SH		SOLE		0	225,000	0
EMCOR Group Inc	COM	29084Q100	78,743,937	182,900	SH		SOLE		0	182,900	0
Enbridge Inc	ADR	29250N105	23,324,963	574,365	SH		SOLE		0	574,365	0
Energy Transfer LP	COM UT LTD PTN	29273V100	9,162,945	570,900	SH		SOLE		0	570,900	0
EnLink Midstream LLC	COM UNIT REP LTD	29336T100	40,832,591	2,814,100	SH		SOLE		0	2,814,100	0
Entergy Corp	COM	29364G103	442,210	3,360	SH		SOLE		0	3,360	0
Enterprise Products Partners LP	COM	293792107	7,559,867	259,700	SH		SOLE		0	259,700	0
EOG Resources Inc	COM	26875P101	3,630,123	29,530	SH		SOLE		0	29,530	0
EQT Corp	COM	26884L109	29,083,660	793,768	SH		SOLE		0	793,768	0
Equinor ASA	SPONSORED ADR	29446M102	4,313,699	170,300	SH		SOLE		0	170,300	0
EQUITABLE HLDGS INC COM	COM	29452E101	798,570	19,000	SH		SOLE		0	19,000	0
Essential Utilities Inc	COM	29670G102	6,583,899	170,700	SH		SOLE		0	170,700	0
Exelon Corp	COM	30161N101	5,941,832	146,531	SH		SOLE		0	146,531	0
Exxon Mobil Corp	COM	30231G102	10,176,103	86,812	SH		SOLE		0	86,812	0
Fifth Third Bancorp	COM	316773100	599,760	14,000	SH		SOLE		0	14,000	0
First BanCorp/Puerto Rico	COM	318672706	1,164,350	55,000	SH		SOLE		0	55,000	0
First Citizens BancShares Inc/NC	CL A	31946M103	1,104,570	600	SH		SOLE		0	600	0
Flowserve Corp	COM	34354P105	43,078,446	833,400	SH		SOLE		0	833,400	0
Fluor Corp	COM	343412102	43,883,658	919,800	SH		SOLE		0	919,800	0
Flushing Financial Corp	COM	343873105	2,187,000	150,000	SH		SOLE		0	150,000	0
Ford Motor Co	COM	345370860	4,612,608	436,800	SH		SOLE		0	436,800	0
Forestar Group Inc	COM	346232101	7,694,349	237,700	SH		SOLE		0	237,700	0
Fortis Inc/Canada	COM	349553107	5,365,373	118,076	SH		SOLE		0	118,076	0
Freeport-McMoRan Inc	CL B	35671D857	719,846	14,420	SH		SOLE		0	14,420	0
Gap Inc/The	COM	364760108	76,850,865	3,485,300	SH		SOLE		0	3,485,300	0
Genuine Parts Co	COM	372460105	2,667,888	19,100	SH		SOLE		0	19,100	0
Gilead Sciences Inc	COM	375558103	5,022,016	59,900	SH		SOLE		0	59,900	0
Goldman Sachs Group Inc/The	COM	38141G104	3,861,858	7,800	SH		SOLE		0	7,800	0
Greenbrier Cos Inc/The	COM	393657101	9,399,383	184,700	SH		SOLE		0	184,700	0
Griffon Corp	COM	398433102	9,177,000	131,100	SH		SOLE		0	131,100	0
Group 1 Automotive Inc	COM	398905109	47,496,960	124,000	SH		SOLE		0	124,000	0
Groupon Inc	COM	399473206	7,836,714	801,300	SH		SOLE		0	801,300	0
GSK PLC	SPONSORED ADR	37733W204	5,275,973	129,060	SH		SOLE		0	129,060	0
Guess Inc	ADR	401617105	37,065,369	1,841,300	SH		SOLE		0	1,841,300	0
Halliburton Co	COM	406216101	2,825,984	97,280	SH		SOLE		0	97,280	0
Hancock Whitney Corp	COM	410120109	2,046,800	40,000	SH		SOLE		0	40,000	0
HCA Healthcare Inc	COM	40412C101	3,820,442	9,400	SH		SOLE		0	9,400	0
Hershey Co/The	COM	427866108	2,665,742	13,900	SH		SOLE		0	13,900	0
Hingham Institution For Savings The	COM	433323102	1,216,550	5,000	SH		SOLE		0	5,000	0
HomeStreet Inc	COM	43785V102	1,891,200	120,000	SH		SOLE		0	120,000	0
HomeTrust Bancshares Inc	COM	437872104	3,510,240	103,000	SH		SOLE		0	103,000	0
HP Inc	COM	40434L105	9,275,982	258,600	SH		SOLE		0	258,600	0
HSBC Holdings PLC	SPON ADR NEW	404280406	5,865,662	129,800	SH		SOLE		0	129,800	0
IES Holdings Inc	COM	44951W106	15,430,626	77,300	SH		SOLE		0	77,300	0
Independent Bank Corp	COM	453836108	3,547,800	60,000	SH		SOLE		0	60,000	0
Independent Bank Group Inc	COM	45384B106	3,113,640	54,000	SH		SOLE		0	54,000	0
Interface Inc	COM	458665304	10,812,900	570,000	SH		SOLE		0	570,000	0
International Business Machines Corp	COM	459200101	12,015,256	54,348	SH		SOLE		0	54,348	0
Jabil Inc	COM	466313103	2,601,030	21,706	SH		SOLE		0	21,706	0
JELD-WEN Holding Inc	COM	47580P103	7,063,908	446,800	SH		SOLE		0	446,800	0
Johnson & Johnson	COM	478160104	8,735,034	53,900	SH		SOLE		0	53,900	0
JPMORGAN CHASE & CO.	COM	46625H100	7,801,820	37,000	SH		SOLE		0	37,000	0
Kenvue Inc	COM	49177J102	5,396,229	233,300	SH		SOLE		0	233,300	0
Keurig Dr Pepper Inc	COM	49271V100	6,000,548	160,100	SH		SOLE		0	160,100	0
KeyCorp	COM	493267108	971,500	58,000	SH		SOLE		0	58,000	0
Kimberly-Clark Corp	COM	494368103	3,044,792	21,400	SH		SOLE		0	21,400	0
Kinder Morgan Inc	COM	49456B101	26,399,560	1,195,091	SH		SOLE		0	1,195,091	0
Koppers Holdings Inc	COM	50060P106	6,308,731	172,700	SH		SOLE		0	172,700	0
Kraft Heinz Co/The	COM	500754106	4,778,471	136,100	SH		SOLE		0	136,100	0
Kroger Co/The	COM	501044101	3,306,210	57,700	SH		SOLE		0	57,700	0
Kyndryl Holdings Inc	COMMON STOCK	50155Q100	49,342,656	2,147,200	SH		SOLE		0	2,147,200	0
Lamb Weston Holdings Inc	COM	513272104	1,599,078	24,700	SH		SOLE		0	24,700	0
LendingTree Inc	COM	52603B107	13,172,810	227,000	SH		SOLE		0	227,000	0
Liberty Energy Inc	COM CL A	53115L104	43,074,676	2,256,400	SH		SOLE		0	2,256,400	0
Live Nation Entertainment Inc	COM	538034109	9,941,692	90,800	SH		SOLE		0	90,800	0
Lockheed Martin Corp	COM	539830109	3,390,448	5,800	SH		SOLE		0	5,800	0
Lowe's Cos Inc	COM	548661107	3,250,200	12,000	SH		SOLE		0	12,000	0
LPL Financial Holdings Inc	COM	50212V100	2,651,982	11,400	SH		SOLE		0	11,400	0
M&T Bank Corp	COM	55261F104	1,424,960	8,000	SH		SOLE		0	8,000	0
Manulife Financial Corp	ADR	56501R106	7,035,855	238,100	SH		SOLE		0	238,100	0
Marathon Oil Corp	COM	565849106	687,054	25,800	SH		SOLE		0	25,800	0
Marathon Petroleum Corp	COM	56585A102	2,769,470	17,000	SH		SOLE		0	17,000	0
Masco Corp	COM	574599106	3,256,872	38,800	SH		SOLE		0	38,800	0
Masterbrand Inc	COMMON STOCK	57638P104	9,544,392	514,800	SH		SOLE		0	514,800	0
McKesson Corp	COM	58155Q103	2,669,868	5,400	SH		SOLE		0	5,400	0
MDU Resources Group Inc	COM	552690109	4,928,510	179,807	SH		SOLE		0	179,807	0
Medtronic PLC	SHS	G5960L103	5,284,761	58,700	SH		SOLE		0	58,700	0
Merck & Co Inc	COM	58933Y105	5,331,642	46,950	SH		SOLE		0	46,950	0
Mercury General Corp	COM	589400100	11,336,400	180,000	SH		SOLE		0	180,000	0
Methode Electronics Inc	COM	591520200	156,592	13,093	SH		SOLE		0	13,093	0
MGE Energy Inc	COM	55277P104	857,710	9,379	SH		SOLE		0	9,379	0
Microchip Technology Inc	COM	595017104	2,480,961	30,900	SH		SOLE		0	30,900	0
Midland States Bancorp Inc	COM	597742105	2,238,000	100,000	SH		SOLE		0	100,000	0
MillerKnoll Inc	COM	600544100	33,289,820	1,344,500	SH		SOLE		0	1,344,500	0
Modine Manufacturing Co	COM	607828100	95,622,079	720,100	SH		SOLE		0	720,100	0
Moog Inc	COM	615394202	12,181,806	60,300	SH		SOLE		0	60,300	0
Morgan Stanley	COM	617446448	7,244,680	69,500	SH		SOLE		0	69,500	0
MPLX LP	COM UNIT REP LTD	55336V100	6,955,723	156,449	SH		SOLE		0	156,449	0
MSC Industrial Direct Co Inc	CL A	553530106	28,322,346	329,100	SH		SOLE		0	329,100	0
National Fuel Gas Co	COM	636180101	5,426,050	89,524	SH		SOLE		0	89,524	0
National Grid PLC	ADR	636274409	14,173,943	203,444	SH		SOLE		0	203,444	0
NB Bancorp Inc	COM	63945M107	3,062,400	165,000	SH		SOLE		0	165,000	0
NCR Atleos Corp	COM	63001N106	17,715,704	620,950	SH		SOLE		0	620,950	0
NCR Voyix Corp	COM	62886E108	17,501,229	1,289,700	SH		SOLE		0	1,289,700	0
New Jersey Resources Corp	COM	646025106	5,844,965	123,834	SH		SOLE		0	123,834	0
New York Community Bancorp Inc	COM	649445400	1,123,000	100,000	SH		SOLE		0	100,000	0
NextEra Energy Inc	COM	65339F101	724,422	8,570	SH		SOLE		0	8,570	0
NiSource Inc	COM	65473P105	13,672,232	394,581	SH		SOLE		0	394,581	0
Northeast Community Bancorp Inc	COM	664121100	1,587,000	60,000	SH		SOLE		0	60,000	0
Northwest Natural Holding Co	COM	66765N105	2,208,484	54,103	SH		SOLE		0	54,103	0
Northwestern Energy Group Inc	COM	668074305	1,052,734	18,398	SH		SOLE		0	18,398	0
NOV Inc	COM	62955J103	373,698	23,400	SH		SOLE		0	23,400	0
Nucor Corp	COM	670346105	2,360,338	15,700	SH		SOLE		0	15,700	0
NVR Inc	COM	62944T105	3,924,720	400	SH		SOLE		0	400	0
Oceaneering International Inc	COM	675232102	31,729,146	1,275,800	SH		SOLE		0	1,275,800	0
OceanFirst Financial Corp	COM	675234108	4,089,800	220,000	SH		SOLE		0	220,000	0
Old National Bancorp/IN	COM	680033107	2,295,180	123,000	SH		SOLE		0	123,000	0
Omnicom Group Inc	COM	681919106	3,070,683	29,700	SH		SOLE		0	29,700	0
ON Semiconductor Corp	COM	682189105	2,577,655	35,500	SH		SOLE		0	35,500	0
ONE Gas Inc	COM	68235P108	6,353,608	85,375	SH		SOLE		0	85,375	0
ONEOK Inc	COM	682680103	28,172,384	309,145	SH		SOLE		0	309,145	0
Orange County Bancorp Inc	COM	68417L107	2,111,200	35,000	SH		SOLE		0	35,000	0
Oscar Health Inc	COM	687793109	13,661,361	644,100	SH		SOLE		0	644,100	0
Oshkosh Corp	COM	688239201	34,031,316	339,600	SH		SOLE		0	339,600	0
PACCAR Inc	COM	693718108	2,763,040	28,000	SH		SOLE		0	28,000	0
Pacific Premier Bancorp Inc	COM	69478X105	3,371,440	134,000	SH		SOLE		0	134,000	0
Par Pacific Holdings Inc	COM	69888T207	16,445,440	934,400	SH		SOLE		0	934,400	0
Parsons Corp	COM	70202L102	61,233,408	590,600	SH		SOLE		0	590,600	0
PayPal Holdings Inc	COM	70450Y103	1,677,645	21,500	SH		SOLE		0	21,500	0
PBF Energy Inc	COM	69318G106	19,966,897	645,134	SH		SOLE		0	645,134	0
PepsiCo Inc	COM	713448108	5,237,540	30,800	SH		SOLE		0	30,800	0
Petroleo Brasileiro SA	SPONSORED ADR	71654V408	4,536,268	314,800	SH		SOLE		0	314,800	0
Pfizer Inc	COM	717081103	5,212,094	180,100	SH		SOLE		0	180,100	0
PG&E Corp	COM	69331C108	16,487,172	833,949	SH		SOLE		0	833,949	0
Philip Morris International Inc	COM	718172109	9,906,240	81,600	SH		SOLE		0	81,600	0
Phillips 66	COM	718546104	460,075	3,500	SH		SOLE		0	3,500	0
Plains All American Pipeline LP	UNIT LTD PARTN	726503105	7,306,274	420,626	SH		SOLE		0	420,626	0
Plains GP Holdings LP	LTD PARTNR INT A	72651A207	38,504,050	2,081,300	SH		SOLE		0	2,081,300	0
PNC Financial Services Group Inc/The	COM	693475105	1,478,800	8,000	SH		SOLE		0	8,000	0
PPL Corp	COM	69351T106	6,133,661	185,419	SH		SOLE		0	185,419	0
Procter & Gamble Co/The	COM	742718109	5,888,800	34,000	SH		SOLE		0	34,000	0
PROFRAC HLDG CORP	CLASS A COM	74319N100	135,800	20,000	SH		SOLE		0	20,000	0
Provident Financial Services Inc	COM	74386T105	2,969,600	160,000	SH		SOLE		0	160,000	0
Public Service Enterprise Group Inc	COM	744573106	15,932,014	178,590	SH		SOLE		0	178,590	0
PulteGroup Inc	COM	745867101	3,588,250	25,000	SH		SOLE		0	25,000	0
PVH Corp	COM	693656100	7,590,482	75,280	SH		SOLE		0	75,280	0
Quanex Building Products Corp	COM	747619104	7,082,300	255,218	SH		SOLE		0	255,218	0
REV Group Inc	COM	749527107	12,107,890	431,500	SH		SOLE		0	431,500	0
RGC Resources Inc	COM	74955L103	353,311	15,654	SH		SOLE		0	15,654	0
Royal Bank of Canada	ADR	780087102	6,411,122	51,400	SH		SOLE		0	51,400	0
RTX Corp	COM	75513E101	7,269,600	60,000	SH		SOLE		0	60,000	0
Schlumberger NV	COM STK CL A	806857108	621,280	14,810	SH		SOLE		0	14,810	0
Sempra	COM	816851109	23,448,179	280,380	SH		SOLE		0	280,380	0
Shell PLC	SPON ADS	780259305	5,335,355	80,900	SH		SOLE		0	80,900	0
SiriusPoint Ltd	COM	G8192H106	10,527,066	734,105	SH		SOLE		0	734,105	0
SMART Global Holdings Inc	SHS	G8232Y101	9,496,635	453,300	SH		SOLE		0	453,300	0
Solaris Energy Infrastructure Inc	COM	83418M103	547,659	42,920	SH		SOLE		0	42,920	0
Solventum Corp	COM	83444M101	461,895	6,625	SH		SOLE		0	6,625	0
Southern Co/The	COM	842587107	24,123,150	267,500	SH		SOLE		0	267,500	0
Southwest Gas Holdings Inc	COM	844895102	6,233,974	84,517	SH		SOLE		0	84,517	0
Spire Inc	COM	84857L101	4,174,739	62,041	SH		SOLE		0	62,041	0
Sprouts Farmers Market Inc	COM	85208M102	101,168,683	916,300	SH		SOLE		0	916,300	0
Starbucks Corp	COM	855244109	5,361,950	55,000	SH		SOLE		0	55,000	0
Steel Dynamics Inc	COM	858119100	2,950,272	23,400	SH		SOLE		0	23,400	0
Stellantis NV	ADR	N82405106	4,708,155	335,100	SH		SOLE		0	335,100	0
Sterling Infrastructure Inc	COM	859241101	64,490,394	444,700	SH		SOLE		0	444,700	0
Stride Inc	COM	86333M108	12,813,562	150,200	SH		SOLE		0	150,200	0
Suncor Energy Inc	ADR	867224107	6,426,295	174,060	SH		SOLE		0	174,060	0
Synchrony Financial	COM	87165B103	648,440	13,000	SH		SOLE		0	13,000	0
Targa Resources Corp	COM	87612G101	2,294,155	15,500	SH		SOLE		0	15,500	0
TC Energy Corp	ADR	87807B107	26,504,370	557,400	SH		SOLE		0	557,400	0
TechnipFMC PLC	ADR	G87110105	9,952,711	379,440	SH		SOLE		0	379,440	0
Tellurian Inc	COM	87968A104	565,496	584,190	SH		SOLE		0	584,190	0
Tenaris SA	SPONSORED ADR	88031M109	381,480	12,000	SH		SOLE		0	12,000	0
Tenet Healthcare Corp	COM	88033G407	15,057,720	90,600	SH		SOLE		0	90,600	0
Teva Pharmaceutical Industries Ltd	ADR	881624209	12,259,006	680,300	SH		SOLE		0	680,300	0
Texas Capital Bancshares Inc	COM	88224Q107	1,429,200	20,000	SH		SOLE		0	20,000	0
Texas Instruments Inc	COM	882508104	6,520,589	31,566	SH		SOLE		0	31,566	0
Toll Brothers Inc	COM	889478103	11,416,811	73,900	SH		SOLE		0	73,900	0
Toronto-Dominion Bank/The	COM	891160509	5,364,448	84,800	SH		SOLE		0	84,800	0
TotalEnergies SE	SPONSORED ADS	89151E109	5,059,746	78,300	SH		SOLE		0	78,300	0
Tractor Supply Co	COM	892356106	3,462,067	11,900	SH		SOLE		0	11,900	0
TRUIST FINANCIAL CORP	COM	89832Q109	940,940	22,000	SH		SOLE		0	22,000	0
Turtle Beach Corp	COM	900450206	8,236,046	536,900	SH		SOLE		0	536,900	0
Tutor Perini Corp	COM	901109108	17,365,588	639,381	SH		SOLE		0	639,381	0
UGI Corp	COM	902681105	2,763,509	110,452	SH		SOLE		0	110,452	0
ULTA BEAUTY INC	COM	90384S303	2,140,160	5,500	SH		SOLE		0	5,500	0
Ultrapar Participacoes SA	ADR	90400P101	6,579,704	1,695,800	SH		SOLE		0	1,695,800	0
UMB Financial Corp	COM	902788108	1,891,980	18,000	SH		SOLE		0	18,000	0
Unilever PLC	SPON ADR NEW	904767704	6,807,808	104,800	SH		SOLE		0	104,800	0
United Microelectronics Corp	SPON ADR NEW	910873405	131,579	15,627	SH		SOLE		0	15,627	0
United Parcel Service Inc	CL B	911312106	2,263,244	16,600	SH		SOLE		0	16,600	0
United Rentals Inc	COM	911363109	3,886,704	4,800	SH		SOLE		0	4,800	0
Unitil Corp	COM	913259107	908,579	14,998	SH		SOLE		0	14,998	0
Universal Technical Institute Inc	COM	913915104	10,516,968	646,800	SH		SOLE		0	646,800	0
Urban Outfitters Inc	COM	917047102	8,075,748	210,800	SH		SOLE		0	210,800	0
US Bancorp	COM	902973304	503,030	11,000	SH		SOLE		0	11,000	0
Valero Energy Corp	COM	91913Y100	3,233,969	23,950	SH		SOLE		0	23,950	0
Verizon Communications Inc	COM	92343V104	10,634,688	236,800	SH		SOLE		0	236,800	0
Viasat Inc	COM CL A	92552V100	121,095	10,142	SH		SOLE		0	10,142	0
Visa Inc	COM CL A	92826C839	1,594,710	5,800	SH		SOLE		0	5,800	0
VSE Corp	COM	918284100	9,906,587	119,746	SH		SOLE		0	119,746	0
WaFd Inc	COM	938824109	3,624,400	104,000	SH		SOLE		0	104,000	0
Walgreens Boots Alliance Inc	COM	931427108	1,692,096	188,850	SH		SOLE		0	188,850	0
Washington Trust Bancorp Inc	COM	940610108	2,158,070	67,000	SH		SOLE		0	67,000	0
Webster Financial Corp	COM	947890109	792,370	17,000	SH		SOLE		0	17,000	0
WEC Energy Group Inc	COM	92939U106	16,787,257	174,540	SH		SOLE		0	174,540	0
Wells Fargo & Co	COM	949746101	7,304,157	129,300	SH		SOLE		0	129,300	0
Western Midstream Partners LP	COM UNIT LP INT	958669103	4,503,202	117,700	SH		SOLE		0	117,700	0
Western New England Bancorp Inc	COM	958892101	3,740,000	440,000	SH		SOLE		0	440,000	0
Williams Cos Inc/The	COM	969457100	4,092,614	89,652	SH		SOLE		0	89,652	0
Williams-Sonoma Inc	COM	969904101	4,043,412	26,100	SH		SOLE		0	26,100	0
Wintrust Financial Corp	COM	97650W108	1,627,950	15,000	SH		SOLE		0	15,000	0
Xcel Energy Inc	COM	98389B100	7,137,225	109,299	SH		SOLE		0	109,299	0
XPO Inc	COM	983793100	46,584,083	433,300	SH		SOLE		0	433,300	0