SYSTEMATIC FINANCIAL MANAGEMENT LP

TEANECK, NJ · CIK 1085936 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 1995 · limited partnership

Assets managed$4.2bn
Staff22 · 8 in investment roles
Main clients (by assets)State and local governments 47%, Pension plans 20%, Mutual funds and ETFs 13%
Websitesfmlp.com
Form ADV · 2026-03-30SEC adviser record

Legal entitySYSTEMATIC FINANCIAL MANAGEMENT, L.P. (US)
Part of AFFILIATED MANAGERS GROUP, INC. (US)

Other 13F filers in this group: Artemis Investment Management LLP $11.2bn, River Road Asset Management, LLC $9.0bn, YACKTMAN ASSET MANAGEMENT LP $8.1bn, Foyston, Gordon & Payne Inc $467.6m, AFFILIATED MANAGERS GROUP, INC. files a notice, AMG Funds LLC files a notice

$5.0bn reported value +15.1% vs Q1 2026

243positions

17.6%in top 10

9 new 94 added 114 reduced 13 sold out vs Q1 2026

This report includes the holdings of 2 other managers that share the investment decisions:

MORGAN STANLEY – files its own report too; $153.1m of shares are in both
AFFILIATED MANAGERS GROUP, INC. – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	SILICON MOTION TECHNOLOGY CO SPONSORED ADR SIMO	SIMO	354,216	$118.1m2.35%	2.35%	Reduced -152.5k	-152,509 -30.1%
2	MUELLER INDS INC COM MLI	MLI	765,965	$94.2m1.88%	1.88%	Reduced -18.7k	-18,722 -2.4%
3	JAZZ PHARMACEUTICALS PLC SHS USD JAZZ	JAZZ	378,715	$91.3m1.82%	1.82%	Reduced -28.4k	-28,399 -7.0%
4	COHU INC COM COHU	COHU	1,174,165	$86.8m1.73%	1.73%	Reduced -227.1k	-227,069 -16.2%
5	MKS INC. COM MKSI	MKSI	192,042	$85.4m1.70%	1.70%	Reduced -50.0k	-50,021 -20.7%
6	TOWER SEMICONDUCTOR LTD SHS NEW TSEM	TSEM	325,159	$84.7m1.69%	1.69%	Reduced -223.7k	-223,701 -40.8%
7	EMCOR GROUP INC COM EME	EME	98,615	$81.8m1.63%	1.63%	Reduced -15.9k	-15,888 -13.9%
8	ADEIA INC COM ADEA	ADEA	2,478,734	$81.6m1.63%	1.63%	Reduced -207.3k	-207,332 -7.7%
9	GRANITE CONSTR INC COM GVA	GVA	514,945	$81.4m1.62%	1.62%	Reduced -10.3k	-10,347 -2.0%
10	NORTHWESTERN ENERGY GROUP IN COM NEW NWE	NWE	1,121,956	$80.4m1.60%	1.60%	Reduced -10.1k	-10,109 -0.9%
11	MAGNOLIA OIL & GAS CORP CL A MGY	MGY	2,777,352	$71.0m1.42%	1.42%	Reduced -35.9k	-35,926 -1.3%
12	LSI INDS INC OHIO COM LYTS	LYTS	2,378,908	$63.2m1.26%	1.26%	Reduced -124.2k	-124,240 -5.0%
13	MADISON SQUARE GARDEN ENTMT COM CL A MSGE	MSGE	768,688	$62.2m1.24%	1.24%	Reduced -26.5k	-26,513 -3.3%
14	ATLANTIC UN BANKSHARES CORP COM AUB	AUB	1,456,569	$61.6m1.23%	1.23%	Reduced -77.0k	-76,990 -5.0%
15	MADISON SQUARE GRDN SPRT COR CL A MSGS	MSGS	152,155	$61.1m1.22%	1.22%	Reduced -2.3k	-2,346 -1.5%
16	TRUSTCO BK CORP N Y COM NEW TRST	TRST	1,101,023	$60.5m1.20%	1.20%	Reduced -64.1k	-64,110 -5.5%
17	WAFD INC COM WAFD	WAFD	1,558,139	$59.8m1.19%	1.19%	Added +19.8k	+19,788 1.3%
18	VISHAY INTERTECHNOLOGY INC COM VSH	VSH	1,060,737	$57.0m1.14%	1.14%	Reduced -431.6k	-431,624 -28.9%
19	PIPER SANDLER COMPANIES COM NEW PIPR	PIPR	706,867	$51.1m1.02%	1.02%	Reduced -15.2k	-15,161 -2.1%
20	SPHERE ENTERTAINMENT CO CL A SPHR	SPHR	289,748	$50.1m1.00%	1.00%	Reduced -7.7k	-7,743 -2.6%
21	UMB FINL CORP COM UMBF	UMBF	339,475	$48.5m0.97%	0.97%	Reduced -7.0k	-6,970 -2.0%
22	DIME CMNTY BANCSHARES INC COM DCOM	DCOM	1,188,704	$48.3m0.96%	0.96%	Reduced -21.8k	-21,779 -1.8%
23	OSI SYSTEMS INC COM OSIS	OSIS	216,098	$47.3m0.94%	0.94%	Reduced -3.1k	-3,143 -1.4%
24	REGAL REXNORD CORPORATION COM RRX	RRX	197,771	$47.1m0.94%	0.94%	Added +4.0k	+3,980 2.0%
25	REX AMERICAN RES CORP COM REX	REX	1,036,887	$46.8m0.93%	0.93%	Reduced -71.9k	-71,943 -6.5%
26	URBAN OUTFITTERS INC COM URBN	URBN	658,139	$46.6m0.93%	0.93%	Reduced -10.5k	-10,547 -1.6%
27	ONTO INNOVATION INC COM ONTO	ONTO	122,143	$46.2m0.92%	0.92%	Reduced -56.2k	-56,202 -31.5%
28	INNOVIVA INC COM INVA	INVA	2,023,565	$46.0m0.92%	0.92%	Reduced -517	-517 -0.0%
29	KAISER ALUMINUM CORP COM PAR $0.01 KALU	KALU	232,240	$45.4m0.91%	0.91%	Reduced -10.8k	-10,755 -4.4%
30	ENCOMPASS HEALTH CORP COM EHC	EHC	443,140	$44.8m0.89%	0.89%	Reduced -3.3k	-3,265 -0.7%
31	PROVIDENT FINL SVCS INC COM PFS	PFS	1,871,847	$44.3m0.88%	0.88%	Reduced -84.9k	-84,901 -4.3%
32	WEBSTER FINL CORP COM WBS	WBS	576,094	$44.0m0.88%	0.88%	Reduced -150.0k	-149,975 -20.7%
33	STIFEL FINL CORP COM SF	SF	617,939	$43.1m0.86%	0.86%	Added +1.1k	+1,112 0.2%
34	SABRA HEALTH CARE REIT INC COM SBRA	SBRA	2,127,134	$41.5m0.83%	0.83%	Reduced -27.7k	-27,747 -1.3%
35	COLUMBIA BKG SYS INC COM COLB	COLB	1,289,296	$41.3m0.82%	0.82%	Reduced -52.0k	-51,979 -3.9%
36	EVEREST GROUP LTD COM EG	EG	114,411	$40.9m0.81%	0.81%	Reduced -5.6k	-5,563 -4.6%
37	HEALTHPEAK PROPERTIES INC COM DOC	DOC	1,848,665	$39.6m0.79%	0.79%	Added +9.1k	+9,101 0.5%
38	EASTERN BANKSHARES INC COM EBC	EBC	1,771,172	$39.4m0.78%	0.78%	Reduced -76.1k	-76,122 -4.1%
39	VISTEON CORP COM NEW VC	VC	391,119	$38.8m0.77%	0.77%	Added +68.4k	+68,442 21.2%
40	KBR INC COM KBR	KBR	1,114,223	$38.5m0.77%	0.77%	Added +391.5k	+391,483 54.2%
41	WILLIAMS SONOMA INC COM WSM	WSM	165,049	$38.5m0.77%	0.77%	Added +528	+528 0.3%
42	FIRST MERCHANTS CORP COM FRME	FRME	850,405	$37.2m0.74%	0.74%	Reduced -11.6k	-11,590 -1.3%
43	PORTLAND GEN ELEC CO COM NEW POR	POR	711,771	$36.9m0.73%	0.73%	Added +82.4k	+82,432 13.1%
44	FIRST CTZNS BANCSHARES INC N CL A FCNCA	FCNCA	17,534	$36.5m0.73%	0.73%	Added +800	+800 4.8%
45	APPLE HOSPITALITY REIT INC COM NEW APLE	APLE	2,136,387	$35.9m0.72%	0.72%	Reduced -72.5k	-72,525 -3.3%
46	OWENS CORNING NEW COM OC	OC	225,264	$35.8m0.71%	0.71%	Reduced -14.3k	-14,284 -6.0%
47	EXELIXIS INC COM EXEL	EXEL	649,980	$35.4m0.70%	0.70%	Reduced -59.1k	-59,147 -8.3%
48	LXP INDUSTRIAL TRUST COM LXP	LXP	642,277	$34.6m0.69%	0.69%	Added +57	+57 0.0%
49	ANGIODYNAMICS INC COM ANGO	ANGO	2,640,214	$34.3m0.68%	0.68%	Added +186.5k	+186,513 7.6%
50	TAPESTRY INC COM TPR	TPR	233,212	$34.1m0.68%	0.68%	Reduced -230	-230 -0.1%
51	QUANEX BLDG PRODS CORP COM NX	NX	1,815,276	$33.8m0.67%	0.67%	Added +39.0k	+39,024 2.2%
52	OVINTIV INC COM OVV	OVV	641,168	$33.8m0.67%	0.67%	Reduced -79.5k	-79,513 -11.0%
53	SELECTIVE INS GROUP INC COM SIGI	SIGI	340,986	$33.1m0.66%	0.66%	Added +11.5k	+11,490 3.5%
54	COMMERCIAL METALS CO COM CMC	CMC	524,007	$32.9m0.66%	0.66%	Reduced -4.2k	-4,226 -0.8%
55	BERKSHIRE HILLS BANCORP INC COM BBT	BBT	1,060,206	$32.3m0.64%	0.64%	Reduced -67.7k	-67,650 -6.0%
56	V2X INC COM VVX	VVX	416,442	$31.1m0.62%	0.62%	Reduced -4.8k	-4,768 -1.1%
57	SPECTRUM BRANDS HLDGS INC NE COM SPB	SPB	360,007	$30.9m0.61%	0.61%	Reduced -1.4k	-1,418 -0.4%
58	ABERCROMBIE & FITCH CO CL A ANF	ANF	342,730	$30.8m0.61%	0.61%	Reduced -7.2k	-7,216 -2.1%
59	UNITED FIRE GROUP INC COM UFCS	UFCS	582,930	$30.6m0.61%	0.61%	Reduced -29.5k	-29,466 -4.8%
60	UNITED CMNTY BKS BLAIRSVLE G COM UCB	UCB	871,016	$30.6m0.61%	0.61%	Reduced -7.3k	-7,286 -0.8%
61	OLD REP INTL CORP COM ORI	ORI	740,905	$30.3m0.60%	0.60%	Reduced -44.9k	-44,853 -5.7%
62	OCEANFIRST FINL CORP COM OCFC	OCFC	1,517,701	$29.6m0.59%	0.59%	Added +134.1k	+134,113 9.7%
63	STRIDE INC COM LRN	LRN	340,642	$29.4m0.59%	0.59%	Added +13.1k	+13,077 4.0%
64	DELEK US HLDGS INC NEW COM DK	DK	572,493	$29.1m0.58%	0.58%	Reduced -38.5k	-38,507 -6.3%
65	GULFPORT ENERGY CORP COMMON SHARES GPOR	GPOR	170,985	$29.0m0.58%	0.58%	Added +69.3k	+69,289 68.1%
66	PROGRESS SOFTWARE CORP COM PRGS	PRGS	861,531	$28.9m0.58%	0.58%	Reduced -23.3k	-23,259 -2.6%
67	BROADSTONE NET LEASE INC COM BNL	BNL	1,386,242	$28.7m0.57%	0.57%	Reduced -56.9k	-56,897 -3.9%
68	KB HOME COM KBH	KBH	450,024	$28.2m0.56%	0.56%	Reduced -21.1k	-21,069 -4.5%
69	HELIX ENERGY SOLUTIONS GRP I COM HOS	HOS	3,188,798	$27.9m0.56%	0.56%	Added +230.3k	+230,254 7.8%
70	MASTERCRAFT BOAT HLDGS INC COM MCFT	MCFT	1,068,357	$27.6m0.55%	0.55%	Added +15.2k	+15,223 1.4%
71	NEWMARK GROUP INC CL A NMRK	NMRK	1,806,396	$27.3m0.54%	0.54%	Added +113.9k	+113,878 6.7%
72	HAYWARD HLDGS INC COM HAYW	HAYW	1,549,883	$26.8m0.53%	0.53%	Added +91.5k	+91,534 6.3%
73	METALLUS INC COM MTUS	MTUS	1,431,402	$26.8m0.53%	0.53%	Added +69.6k	+69,552 5.1%
74	SELECT WATER SOLUTIONS INC CL A COM WTTR	WTTR	1,277,394	$25.5m0.51%	0.51%	Reduced -19.2k	-19,207 -1.5%
75	ITRON INC COM ITRI	ITRI	293,720	$25.4m0.51%	0.51%	Added +99.6k	+99,621 51.3%
76	KULICKE & SOFFA INDS INC COM KLIC	KLIC	188,684	$25.2m0.50%	0.50%	Reduced -32.8k	-32,771 -14.8%
77	HNI CORP COM HNI	HNI	620,309	$25.1m0.50%	0.50%	Added +48.3k	+48,314 8.4%
78	SCIENCE APPLICATIONS INTL CO COM SAIC	SAIC	224,194	$24.8m0.49%	0.49%	Added +42.2k	+42,165 23.2%
79	SILICOM LTD ORD SILC	SILC	506,475	$24.3m0.48%	0.48%	Reduced -31.0k	-30,984 -5.8%
80	LA Z BOY INC COM LZB	LZB	597,777	$24.0m0.48%	0.48%	Added +5.9k	+5,937 1.0%
81	KITE RLTY GROUP TR COM NEW KRG	KRG	844,573	$24.0m0.48%	0.48%	Reduced -41.2k	-41,224 -4.7%
82	YORK SPACE SYSTEMS INC COM YSS	YSS	961,190	$23.7m0.47%	0.47%	Added +504.3k	+504,266 110.4%
83	MILLER INDS INC TENN COM NEW MLR	MLR	461,036	$23.6m0.47%	0.47%	Added +14.7k	+14,697 3.3%
84	AGREE RLTY CORP COM ADC	ADC	305,877	$23.2m0.46%	0.46%	Reduced -13.6k	-13,615 -4.3%
85	NATIONAL HEALTHCARE CORP COM NHC	NHC	109,086	$23.1m0.46%	0.46%	Reduced -7.2k	-7,162 -6.2%
86	FIRST CMNTY BANKSHARES INC V COM FCBC	FCBC	512,581	$22.8m0.45%	0.45%	Reduced -15.1k	-15,138 -2.9%
87	SUPERNUS PHARMACEUTICALS INC COM SUPN	SUPN	474,131	$22.1m0.44%	0.44%	Added +98.1k	+98,052 26.1%
88	TELEFLEX INCORPORATED COM TFX	TFX	173,359	$22.0m0.44%	0.44%	Added +157.3k	+157,294 979.1%
89	COMMUNITY HEALTHCARE TR INC COM CHCT	CHCT	1,183,409	$21.6m0.43%	0.43%	Added +58.5k	+58,523 5.2%
90	GREIF INC CL A GEF	GEF	285,628	$21.3m0.42%	0.42%	Reduced -14.2k	-14,180 -4.7%
91	DIAMONDROCK HOSPITALITY CO COM DRH	DRH	1,745,657	$21.3m0.42%	0.42%	Added +4.5k	+4,489 0.3%
92	CATALYST PHARMACEUTICALS INC COM CPRX	CPRX	667,883	$21.0m0.42%	0.42%	Reduced -79.6k	-79,632 -10.7%
93	AMERICAN EAGLE OUTFITTERS IN COM AEO	AEO	1,210,769	$20.8m0.41%	0.41%	Added +203.3k	+203,293 20.2%
94	MASTERBRAND INC COMMON STOCK MBC	MBC	1,973,382	$20.3m0.40%	0.40%	New
95	HELMERICH & PAYNE INC COM HP	HP	619,420	$20.3m0.40%	0.40%	Added +28.9k	+28,929 4.9%
96	ACUITY INC COM AYI	AYI	52,711	$19.9m0.40%	0.40%	Added +20.4k	+20,392 63.1%
97	CHURCHILL DOWNS INC COM CHDN	CHDN	220,975	$19.8m0.39%	0.39%	Added +1.4k	+1,365 0.6%
98	FORTUNE BRANDS INNOVATIONS I COM FBIN	FBIN	353,626	$19.4m0.39%	0.39%	Added +61.9k	+61,917 21.2%
99	UNIVERSAL DISPLAY CORP COM OLED	OLED	222,809	$19.3m0.38%	0.38%	Added +30.0k	+29,994 15.6%
100	UNITED BANKSHARES INC WEST V COM UBSI	UBSI	416,064	$19.1m0.38%	0.38%	Reduced -15.9k	-15,936 -3.7%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
AMERICAN WOODMARK CORPORATIO AMWD	AMWD	386,189	$15.4m386.2k shares
GOLDEN ENTMT INC GDEN	GDEN	427,520	$11.4m427.5k shares
ENHABIT INC EHAB	EHAB	336,694	$4.7m336.7k shares
KLA CORP KLAC	KLAC	18,900	$2.8m18.9k shares
CIENA CORP CIEN	CIEN	7,018	$2.7m7.0k shares
COTERRA ENERGY INC CTRA	CTRA	62,940	$2.2m62.9k shares
CRACKER BARREL OLD CTRY STOR CBRL	CBRL	22,005	$618.6k22.0k shares
INTERNATIONAL PAPER CO IP	IP	7,100	$253.5k7.1k shares
ELBIT SYS LTD ESLT	ESLT	58	$49.5k58 shares
SYLVAMO CORP SLVM	SLVM	645	$27.2k645 shares
OCCIDENTAL PETE CORP OXY	OXY	231	$15.0k231 shares
ORGANON & CO OGN	OGN	730	$4.4k730 shares
ISHARES TR IJS	IJS	8	$8948 shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
SILICOM LTD SILC · 13G · filed 2026-02-10	SILC	9.7%≈ $26.5m	+1.3 pts	13G	2026-02-10
GENCOR INDS INC GENC · 13G · filed 2026-02-10	GENC	9.1%≈ $16.8m	-0.5 pts	13G	2026-02-10
LSI INDS INC OHIO LYTS · 13G · filed 2026-08-14	LYTS	6.7%≈ $63.2m	-1.8 pts	13G	2026-08-14
MASTERCRAFT BOAT HLDGS INC MCFT · 13G · filed 2026-02-10	MCFT	6.6%≈ $27.6m	+0.2 pts	13G	2026-02-10
TRUSTCO BK CORP N Y TRST · 13G · filed 2026-02-10	TRST	6.3%≈ $64.5m	+0.2 pts	13G	2026-02-10
ANGIODYNAMICS INC ANGO · 13G · filed 2026-02-10	ANGO	6.1%≈ $32.6m	-0.1 pts	13G	2026-02-10