INTREPID CAPITAL MANAGEMENT INC Activity Q2 2003-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
	Sell	APTUS ENHANCED YIELD ETFconv bonds	$10,302,268	-31.4%	425,362	-31.0%	7.12%	+35.1%
	Sell	DIMENSIONAL US HIGH PROFI ET	$7,360,487	-52.3%	286,512	-50.8%	5.09%	-6.2%
	New	PDD HOLDINGS INCconv bonds	$6,951,238	–	7,000,000	–	4.81%	–
FRPH	Sell	FRP HLDGS INC COM	$5,364,348	-52.5%	99,395	-49.3%	3.71%	-6.4%
	Sell	CIVITAS RESOURCES INC	$4,586,461	-44.5%	56,714	-52.4%	3.17%	+9.2%
DBX	Sell	DROPBOX INC CL A	$4,481,078	-49.0%	164,564	-50.0%	3.10%	+0.5%
WNS	Sell	WNS HLDGS LTD SPON ADR	$4,296,139	-53.2%	62,754	-49.6%	2.97%	-7.9%
JEF	Sell	JEFFERIES FINL GROUP INC COM	$3,964,978	-44.8%	108,244	-50.0%	2.74%	+8.7%
BRKB	Sell	BERKSHIRE HATHAWAY CLASS B	$3,728,593	-48.4%	10,644	-49.8%	2.58%	+1.6%
CEF	Sell	SPROTT PHYSICAL GOLD & SILVER TR UNIT	$3,630,999	-51.3%	209,642	-49.4%	2.51%	-4.2%
AYI	Sell	ACUITY BRANDS INC COM	$3,489,141	-47.8%	20,487	-50.0%	2.41%	+2.8%
SKX	Sell	SKECHERS U S A INC CL A	$3,235,252	-53.5%	66,093	-50.0%	2.24%	-8.5%
FC	Sell	FRANKLIN COVEY CO COM	$3,088,437	-54.1%	71,958	-53.2%	2.14%	-9.6%
VVV	Sell	VALVOLINE INC	$3,019,598	-56.4%	93,660	-49.3%	2.09%	-14.2%
PKE	Sell	PARK AEROSPACE CORP	$2,906,936	-43.7%	187,182	-50.0%	2.01%	+10.8%
SILC	Sell	SILICOM LTD ORD	$2,769,967	-62.8%	106,129	-47.5%	1.92%	-26.7%
UPS	Sell	UNITED PARCEL SERVICE INC CL B	$2,624,695	-56.5%	16,839	-50.0%	1.82%	-14.4%
	Sell	CHICAGO ATLANTIC REAL ESTATE	$2,546,575	-51.4%	173,001	-50.0%	1.76%	-4.3%
IAU	Sell	ISHARES GOLD TRUST ISHARES	$2,239,780	-50.8%	64,012	-48.8%	1.55%	-3.1%
GOOGL	Sell	ALPHABET INC CAP STK CL A	$2,207,739	-56.6%	16,871	-60.3%	1.53%	-14.6%
FN	Sell	FABRINET SHS	$2,195,052	-68.0%	13,174	-75.1%	1.52%	-37.0%
IAC	Sell	IAC INTERACTIVECORP NEW COM	$2,113,256	-57.0%	41,938	-46.4%	1.46%	-15.4%
AWI	Sell	ARMSTRONG WORLD INDUSTRIES	$2,110,536	-49.9%	29,313	-48.9%	1.46%	-1.4%
PAGS	Sell	PAGSEGURO DIGITAL LTD-CL A	$1,994,877	-11.2%	231,693	-2.7%	1.38%	+74.8%
TJX	Sell	TJX COS INC NEW COM	$1,989,046	-47.6%	22,379	-50.0%	1.38%	+3.2%
GRMN	Sell	GARMIN LTD	$1,894,231	-49.6%	18,006	-50.0%	1.31%	-0.7%
CRI	Sell	CARTER`S INC	$1,884,614	-75.1%	27,254	-73.9%	1.30%	-51.0%
LYV	Sell	LIVE NATION ENTERTAINMENT IN	$1,827,378	-54.4%	22,006	-50.0%	1.26%	-10.3%
CBOE	Sell	CBOE GLOBAL MKTS INC COM	$1,728,307	-43.4%	11,064	-50.0%	1.20%	+11.5%
TTWO	Sell	TAKE-TWO INTERACTIVE SOFTWARE COM	$1,640,878	-52.3%	11,688	-50.0%	1.13%	-6.1%
CNDT	Sell	CONDUENT INC	$1,577,585	-47.4%	453,329	-48.6%	1.09%	+3.5%
WRB	New	WR BERKLEY CORP	$1,561,537	–	24,595	–	1.08%	–
MKL	Sell	MARKEL CORP	$1,544,642	-46.8%	1,049	-50.0%	1.07%	+4.8%
AAPL	Sell	APPLE INC COM	$1,508,970	-53.8%	8,814	-47.6%	1.04%	-9.0%
GMED	Sell	GLOBUS MED INC CL A	$1,415,472	-58.3%	28,509	-50.0%	0.98%	-17.9%
WSO	Sell	WATSCO INC	$1,394,165	-50.5%	3,691	-50.0%	0.96%	-2.5%
CVS	Sell	CVS HEALTH CORP COM	$1,365,260	-49.5%	19,554	-50.0%	0.94%	-0.5%
ACN	Sell	ACCENTURE PLC IRELAND SHS CLASS A	$1,355,891	-50.3%	4,415	-50.1%	0.94%	-2.3%
TLT	Sell	ISHARES 20 YEAR TREASURY BOconv bonds	$1,279,797	-54.2%	14,430	-46.9%	0.88%	-9.9%
VGR	Sell	VECTOR GROUP LTD	$1,238,985	-56.2%	116,446	-47.2%	0.86%	-13.7%
DG	Sell	DOLLAR GEN CORP NEW COM	$1,151,845	-73.2%	10,887	-57.1%	0.80%	-47.4%
SCHX	Sell	SCHWAB STRATEGIC TR US LRG CAP ETF	$1,084,864	-54.8%	21,440	-53.3%	0.75%	-11.1%
MSFT	Sell	MICROSOFT CORP COM	$1,069,445	-47.6%	3,387	-43.5%	0.74%	+3.2%
	Sell	LIBERTY LATIN AMERICA LTDconv bonds	$984,685	-49.6%	1,038,000	-50.0%	0.68%	-0.7%
	Sell	EZCORP INCconv bonds	$956,521	-50.4%	933,000	-50.0%	0.66%	-2.5%
LGIH	Sell	LGI HOMES INC COM	$921,576	-63.1%	9,263	-50.0%	0.64%	-27.4%
XOM	Sell	EXXON MOBIL CORP COM	$918,065	-46.0%	7,808	-50.8%	0.64%	+6.4%
BJ	New	BJ`S WHOLESALE CLUB HOLDINGS	$885,345	–	12,405	–	0.61%	–
QQQ	Sell	INVESCO QQQ TR UNIT SER 1	$765,625	-50.8%	2,137	-49.3%	0.53%	-3.3%
LEVI	Sell	LEVI STRAUSS & CO- CLASS A	$648,051	-82.5%	47,721	-81.4%	0.45%	-65.5%
CSX	Sell	CSX CORP COM	$641,076	-55.2%	20,848	-50.3%	0.44%	-11.8%
REG	Sell	REGENCY CTRS CORP COM	$611,638	-51.9%	10,290	-50.0%	0.42%	-5.2%
DLTR	Sell	DOLLAR TREE INC COM	$581,962	-62.9%	5,467	-50.0%	0.40%	-27.0%
AMZN	Sell	AMAZON COM INC COM	$564,159	-48.7%	4,438	-47.4%	0.39%	+0.8%
NVDA	Sell	NVIDIA CORP COM	$535,038	-56.0%	1,230	-57.2%	0.37%	-13.3%
ATVI	Sell	ACTIVISION BLIZZARD INC COM	$519,085	-44.5%	5,544	-50.0%	0.36%	+9.5%
XLK	Sell	TECHNOLOGY SELECT SECT SPDR	$492,446	-52.9%	3,004	-50.0%	0.34%	-7.4%
HHC	Sell	HOWARD HUGHES CORP/THE	$472,291	-52.9%	6,348	-50.0%	0.33%	-7.1%
BK	Sell	BANK OF NEW YORK MELLON CORP	$461,729	-52.1%	10,826	-50.0%	0.32%	-5.9%
NEE	Sell	NEXTERA ENERGY INC COM	$460,898	-61.3%	8,045	-49.9%	0.32%	-23.7%
CME	Sell	CME GROUP INC COM	$437,080	-46.0%	2,183	-50.0%	0.30%	+6.3%
CG	Sell	CARLYLE GROUP INC/THE	$355,828	-11.2%	11,798	-5.9%	0.25%	+74.5%
IWY	Sell	ISHARES RUSSELL TOP 200 GROW	$349,348	-51.5%	2,271	-50.0%	0.24%	-4.3%
XLV	Sell	HEALTH CARE SELECT SECTOR	$312,195	-51.5%	2,425	-50.0%	0.22%	-4.4%
	Sell	DIMENSIONAL INTERNATIONAL HI	$298,998	-50.9%	12,893	-48.2%	0.21%	-3.3%
FCX	New	FREEPORT-MCMORAN INC	$270,986	–	7,267	–	0.19%	–
	New	BGC PARTNERS INC-CL A	$254,251	–	57,393	–	0.18%	–
CVX	Sell	CHEVRON CORP NEW COM	$251,581	-46.4%	1,492	-50.0%	0.17%	+5.5%
IVV	Sell	ISHARES CORE S&P 500 ETF	$249,499	-51.8%	581	-50.0%	0.17%	-5.5%
JNJ	Sell	JOHNSON & JOHNSON COM	$213,503	-58.2%	1,371	-55.6%	0.15%	-17.3%
UNH	Sell	UNITEDHEALTH GROUP INC COM	$208,735	-47.7%	414	-50.1%	0.14%	+2.9%
IBM	Sell	INTERNATIONAL BUSINESS MACHS COM	$192,772	-46.5%	1,374	-49.0%	0.13%	+4.7%
CAT	Sell	CATERPILLAR INC DEL COM	$190,281	-51.4%	697	-56.2%	0.13%	-4.3%
FB	Sell	META PLATFORMS INC-CLASS A	$186,130	-49.3%	620	-51.5%	0.13%	0.0%
AVGO	Sell	BROADCOM INC	$175,252	-56.3%	211	-54.3%	0.12%	-14.2%
NMRK	Sell	NEWMARK GROUP INC-CLASS A	$171,199	-48.3%	26,625	-50.0%	0.12%	+1.7%
SPY	Sell	SPDR S&P 500 ETF TR TR UNIT	$167,145	-51.8%	391	-50.0%	0.12%	-4.9%
CMCSA	Sell	COMCAST CORP NEW CL A	$164,102	-46.1%	3,701	-49.5%	0.11%	+5.6%
JPM	Sell	JPMORGAN CHASE & CO COM	$162,132	-58.5%	1,118	-58.4%	0.11%	-18.2%
FVD	Sell	FIRST TRUST VALUE LINE DVD	$161,450	-53.4%	4,318	-50.0%	0.11%	-8.2%
OPK	Sell	OPKO HEALTH INC	$160,000	-63.1%	100,000	-50.0%	0.11%	-27.0%
FV	Sell	FIRST TRUST DW FOCUS 5 FUND	$158,993	-52.8%	3,589	-50.0%	0.11%	-6.8%
VNLA	Sell	JANUS HENDERSON SHORT DURATIconv bonds	$157,390	-55.6%	3,281	-55.7%	0.11%	-12.1%
XLE	Sell	SELECT SECTOR SPDR TR ENERGY	$144,262	-44.3%	1,596	-50.0%	0.10%	+9.9%
RDIV	Sell	INVESCO S&P ULTRA DIVIDEND	$139,007	-52.5%	3,737	-50.0%	0.10%	-6.8%
PG	Sell	PROCTER AND GAMBLE CO COM	$136,233	-52.1%	934	-50.2%	0.09%	-6.0%
VZ	Sell	VERIZON COMMUNICATIONS INC COM	$133,821	-56.8%	4,129	-50.5%	0.09%	-14.7%
VOE	Sell	VANGUARD MID-CAP VALUE ETF	$134,496	-52.7%	1,027	-50.0%	0.09%	-7.0%
DE	Sell	DEERE & CO	$132,083	-53.4%	350	-50.0%	0.09%	-9.0%
ABBV	Sell	ABBVIE INC COM	$127,148	-47.4%	853	-52.5%	0.09%	+3.5%
LMT	Sell	LOCKHEED MARTIN CORP COM	$128,004	-34.4%	313	-26.2%	0.09%	+27.5%
V	Sell	VISA INC COM CL A	$126,506	-26.7%	550	-24.2%	0.09%	+42.6%
PUBM	Sell	PUBMATIC INC-CLASS A	$121,000	-66.9%	10,000	-50.0%	0.08%	-34.4%
MA	Sell	MASTERCARD INCORPORATED CL A	$117,585	-61.8%	297	-62.0%	0.08%	-25.0%
MRK	Sell	MERCK & CO. INC COM	$116,642	-55.4%	1,133	-50.0%	0.08%	-12.0%
T	Sell	AT&T INC COM	$116,991	-51.9%	7,789	-49.0%	0.08%	-4.7%
TT	Sell	TRANE TECHNOLOGIES PLC SHS	$115,862	-47.0%	571	-50.0%	0.08%	+3.9%
AMD	Sell	ADVANCED MICRO DEVICES	$110,532	-57.4%	1,075	-52.8%	0.08%	-16.5%
MRVL	Sell	MARVELL TECHNOLOGY INC	$103,659	-54.5%	1,915	-49.8%	0.07%	-10.0%
MCD	Sell	MCDONALDS CORP COM	$104,322	-55.8%	396	-49.9%	0.07%	-13.3%
COST	Sell	COSTCO WHSL CORP NEW COM	$100,563	-60.6%	178	-62.4%	0.07%	-22.2%
AMGN	Sell	AMGEN INC COM	$98,635	-38.2%	367	-49.0%	0.07%	+21.4%
HD	Sell	HOME DEPOT INC COM	$87,022	-50.9%	288	-49.5%	0.06%	-3.2%
	Sell	TOAST INC-CLASS A	$85,559	-58.5%	4,568	-50.0%	0.06%	-18.1%
ALL	Sell	ALLSTATE CORP COM	$77,764	-48.9%	698	-50.0%	0.05%	+1.9%
LMBS	Sell	FIRST TRUST LOW DURATION OPP	$78,560	-50.5%	1,663	-50.0%	0.05%	-3.6%
DFAS	Sell	DIMENSIONAL US SMALL CAP ETF	$76,845	-52.6%	1,464	-50.5%	0.05%	-7.0%
CF	Sell	CF INDUSTRIES HOLDINGS INC	$75,023	-38.2%	875	-50.0%	0.05%	+20.9%
NKE	Sell	NIKE INC CL B	$69,229	-56.2%	724	-49.4%	0.05%	-12.7%
BAC	Sell	BK OF AMERICA CORP COM	$67,492	-52.3%	2,465	-50.0%	0.05%	-6.0%
BC	Sell	BRUNSWICK CORP	$67,387	-54.4%	853	-50.0%	0.05%	-9.6%
BLK	Sell	BLACKROCK INC COM	$67,235	-52.8%	104	-49.5%	0.05%	-8.0%
HON	Sell	HONEYWELL INTL INC COM	$65,028	-55.5%	352	-50.0%	0.04%	-11.8%
ADP	Sell	AUTOMATIC DATA PROCESSING INC	$65,438	-45.3%	272	-50.0%	0.04%	+7.1%
MSOS	Sell	ADVISORSHARES TR PURE US CANNABIS	$63,520	-28.3%	8,000	-50.0%	0.04%	+41.9%
DIS	Sell	DISNEY WALT CO COM DISNEY	$64,111	-43.5%	791	-37.8%	0.04%	+10.0%
ISCV	Sell	ISHARES MORNINGSTAR SMALL-CA	$63,378	-52.1%	1,224	-50.0%	0.04%	-4.3%
LOW	Sell	LOWES COS INC COM	$57,780	-54.0%	278	-50.0%	0.04%	-9.1%
WMT	Sell	WALMART INC COM	$58,055	-49.6%	363	-50.5%	0.04%	0.0%
CSCO	Sell	CISCO SYS INC COM	$55,427	-50.5%	1,031	-52.4%	0.04%	-2.6%
AFL	Sell	AFLAC INC COM	$50,502	-45.0%	658	-50.0%	0.04%	+9.4%
ASML	New	ASML HOLDING NV-NY REG SHS	$48,859	–	83	–	0.03%	–
CRM	Sell	SALESFORCE INC	$47,856	-52.0%	236	-50.0%	0.03%	-5.7%
PAYX	Sell	PAYCHEX INC COM	$47,055	-48.5%	408	-50.0%	0.03%	+3.1%
MMM	Sell	3M CO	$46,997	-53.2%	502	-50.0%	0.03%	-8.6%
TMUS	Sell	T-MOBILE US INC	$45,936	-49.6%	328	-50.0%	0.03%	0.0%
TGT	Sell	TARGET CORP COM	$44,117	-58.1%	399	-50.0%	0.03%	-16.2%
IJR	Sell	ISHARES TR CORE S&P SCP ETF	$43,958	-55.9%	466	-53.4%	0.03%	-14.3%
FGD	Sell	FIRST TRUST DJ GL SEL DVD	$43,693	-51.9%	2,120	-50.0%	0.03%	-6.2%
JOB	Sell	GEE GROUP INC COM	$42,265	-42.2%	71,429	-50.0%	0.03%	+11.5%
PRA	Sell	PROASSURANCE CORP	$39,518	-37.4%	2,092	-50.0%	0.03%	+22.7%
EPD	Sell	ENTERPRISE PRODUCTS PARTNERS	$36,238	-48.2%	1,324	-50.1%	0.02%	0.0%
KMI	Sell	KINDER MORGAN INC	$36,294	-51.3%	2,189	-49.4%	0.02%	-3.8%
NJR	Sell	NEW JERSEY RES COM	$36,811	-57.0%	906	-50.0%	0.02%	-16.7%
GOOG	Sell	ALPHABET INC CAP STK CL C	$34,281	-45.5%	260	-50.0%	0.02%	+9.1%
PEP	Sell	PEPSICO INC COM	$33,719	-69.6%	199	-66.7%	0.02%	-41.0%
TXN	Sell	TEXAS INSTRUMENTS INC	$33,074	-55.8%	208	-50.0%	0.02%	-11.5%
LHX	Sell	L3HARRIS TECHNOLOGIES INC COM	$33,953	-55.5%	195	-50.0%	0.02%	-14.8%
IWR	Sell	ISHARES RUSSELL MID-CAP ETF	$33,933	-60.6%	490	-58.5%	0.02%	-23.3%
PLD	Sell	PROLOGIS INC. COM	$33,663	-57.2%	300	-53.3%	0.02%	-17.9%
TROW	Sell	PRICE T ROWE GROUP INC COM	$31,671	-53.2%	302	-50.0%	0.02%	-8.3%
SYY	Sell	SYSCO CORP COM	$31,572	-55.5%	478	-50.0%	0.02%	-12.0%
SBUX	Sell	STARBUCKS CORP COM	$31,671	-65.7%	347	-62.8%	0.02%	-31.2%
ECL	Sell	ECOLAB INC COM	$31,678	-54.6%	187	-50.0%	0.02%	-12.0%
LIN	Sell	LINDE PLC	$32,494	-51.3%	87	-50.6%	0.02%	-4.3%
BP	Sell	BP PLC SPONSORED ADR	$31,053	-45.1%	802	-50.0%	0.02%	+5.0%
F	Sell	FORD MOTOR CO	$30,181	-59.0%	2,430	-50.0%	0.02%	-19.2%
JBL	Sell	JABIL INC COM	$28,550	-41.2%	225	-50.0%	0.02%	+17.6%
SO	Sell	SOUTHERN CO COM	$27,700	-53.9%	428	-50.0%	0.02%	-9.5%
LYB	Sell	LYONDELLBASELL INDU-CL A	$27,652	-47.0%	292	-48.6%	0.02%	+5.6%
PCH	Sell	POTLATCHDELTIC CORPORATION COM	$25,509	-57.1%	562	-50.0%	0.02%	-14.3%
PPG	Sell	PPG INDS INC COM	$25,960	-56.2%	200	-50.0%	0.02%	-14.3%
GLD	Sell	SPDR GOLD TR GOLD SHS	$25,718	-51.9%	150	-50.0%	0.02%	-5.3%
BFB	Sell	BROWN FORMAN CORP CL B	$25,787	-56.8%	447	-50.0%	0.02%	-14.3%
APD	Sell	AIR PRODS & CHEMS INC COM	$24,656	-78.0%	87	-76.7%	0.02%	-56.4%
GIS	Sell	GENERAL MLS INC COM	$23,484	-58.3%	367	-50.0%	0.02%	-20.0%
	New	KEYWORDS STUDIOS PLC	$23,430	–	1,241	–	0.02%	–
FTSM	Sell	FIRST TRUST ENH SHORT MAT FDconv bonds	$22,580	-50.0%	380	-50.0%	0.02%	0.0%
FBHS	Sell	FORTUNE BRANDS HOME & SEC INC COM	$21,632	-56.8%	348	-50.0%	0.02%	-16.7%
QCOM	Sell	QUALCOMM INC	$21,657	-50.3%	195	-46.7%	0.02%	0.0%
SJM	Sell	SMUCKER J M CO COM NEW	$21,755	-58.4%	177	-50.0%	0.02%	-16.7%
TSM	Sell	TAIWAN SEMICONDUCTOR-SP ADR	$20,508	-54.2%	236	-46.8%	0.01%	-12.5%
ENB	Sell	ENBRIDGE INC	$20,113	-67.2%	606	-63.3%	0.01%	-36.4%
DDOG	Buy	DATADOG INC - CLASS A	$19,858	+52.9%	218	+65.2%	0.01%	+180.0%
VOO	Sell	VANGUARD INDEX FDS S&P 500 ETF SHS	$18,850	-51.8%	48	-50.0%	0.01%	-7.1%
PCN	Sell	PIMCO CORPORATE & INCOME STRconv bonds	$18,511	-53.6%	1,521	-50.0%	0.01%	-7.1%
KO	Sell	COCA COLA CO COM	$17,410	-53.5%	311	-50.0%	0.01%	-7.7%
BRP	Sell	BRP GROUP INC COM CL A	$16,261	-53.1%	700	-50.0%	0.01%	-8.3%
K	Sell	KELLOGG CO COM	$15,711	-55.9%	264	-50.0%	0.01%	-8.3%
SNOW	Buy	SNOWFLAKE INC-CLASS A	$15,124	+22.8%	99	+41.4%	0.01%	+150.0%
EXC	Sell	EXELON CORP COM	$14,511	-53.6%	384	-50.0%	0.01%	-9.1%
VYM	Sell	VANGUARD WHITEHALL FDS HIGH DIV YLD	$14,981	-51.3%	145	-50.0%	0.01%	-9.1%
	Sell	CONSTELLATION ENERGY	$13,962	-40.4%	128	-50.0%	0.01%	+25.0%
NLS	Sell	NAUTILUS INC	$12,752	-65.2%	15,000	-50.0%	0.01%	-30.8%
	Sell	WARNER BROS DISCOVERY INC	$13,401	-56.7%	1,234	-50.0%	0.01%	-18.2%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$13,160	-51.5%	26	-50.0%	0.01%	-10.0%
	Sell	RITCHIE BROS AUCTIONEERS	$13,438	-47.9%	215	-50.0%	0.01%	0.0%
AMP	Sell	AMERIPRISE FINANCIAL INC	$11,209	-50.4%	34	-50.0%	0.01%	0.0%
TR	Sell	TOOTSIE ROLL INDS INC COM	$11,227	-57.8%	376	-50.0%	0.01%	-11.1%
	Sell	OSI ETF TR OSHARES EUR QLT	$10,266	-53.5%	400	-50.0%	0.01%	-12.5%
DUK	Sell	DUKE ENERGY CORP	$10,591	-50.8%	120	-50.0%	0.01%	-12.5%
DHR	Sell	DANAHER CORP DEL COM	$8,187	-48.3%	33	-50.0%	0.01%	0.0%
DEO	Sell	DIAGEO PLC-SPONSORED ADR	$8,951	-57.0%	60	-50.0%	0.01%	-14.3%
EMLP	Sell	FIRST TRUST NORTH AMERICAN E	$8,745	-51.1%	331	-50.0%	0.01%	0.0%
VBR	Sell	VANGUARD SMALL-CAP VALUE ETF	$8,931	-51.8%	56	-50.0%	0.01%	-14.3%
EOG	Sell	EOG RES INC COM	$8,113	-44.6%	64	-50.0%	0.01%	+20.0%
COP	Sell	CONOCOPHILLIPS	$8,027	-42.2%	67	-50.0%	0.01%	+20.0%
AMT	Sell	AMERICAN TOWER CORP NEW COM	$6,907	-57.6%	42	-50.0%	0.01%	-16.7%
RTX	Sell	RAYTHEON TECHNOLOGIES CORP COM	$7,269	-63.3%	101	-50.0%	0.01%	-28.6%
EFAV	Sell	ISHARES MSCI EAFE MIN VOL FACTOR ETF	$7,566	-51.7%	116	-50.0%	0.01%	0.0%
MDT	Sell	MEDTRONIC PLC SHS	$6,582	-55.5%	84	-50.0%	0.01%	0.0%
VST	Sell	VISTRA CORP COM	$7,101	-36.8%	214	-50.0%	0.01%	+25.0%
VB	Sell	VANGUARD SMALL-CAP ETF	$6,617	-52.5%	35	-50.0%	0.01%	0.0%
BMY	Sell	BRISTOL-MYERS SQUIBB CO COM	$7,197	-54.6%	124	-50.0%	0.01%	-16.7%
VWO	Sell	VANGUARD FTSE EMERGING MARKE	$7,058	-51.8%	180	-50.0%	0.01%	0.0%
CL	Sell	COLGATE PALMOLIVE CO COM	$7,111	-53.8%	100	-50.0%	0.01%	0.0%
EL	Sell	LAUDER ESTEE COS INC CL A	$5,782	-63.2%	40	-50.0%	0.00%	-33.3%
PETS	Sell	PETMED EXPRESS INC COM	$5,125	-62.8%	500	-50.0%	0.00%	-20.0%
ETSY	Sell	ETSY INC COM	$5,554	-61.8%	86	-50.0%	0.00%	-20.0%
UNP	Sell	UNION PACIFIC CORP	$5,702	-50.2%	28	-50.0%	0.00%	0.0%
CB	Sell	CHUBB LIMITED COM	$6,037	-45.9%	29	-50.0%	0.00%	0.0%
	Sell	VITESSE ENERGY INC	$4,166	-48.9%	182	-50.0%	0.00%	0.0%
RHHBY	Sell	ROCHE HOLDINGS LTD-SPONS ADR	$4,343	-55.6%	128	-50.0%	0.00%	0.0%
FDX	Sell	FEDEX CORP	$4,239	-46.6%	16	-50.0%	0.00%	0.0%
VFC	Sell	V F CORP COM	$4,683	-53.7%	265	-50.0%	0.00%	-25.0%
VO	Sell	VANGUARD MID-CAP ETF	$3,957	-52.7%	19	-50.0%	0.00%	0.0%
VEA	Sell	VANGUARD FTSE DEVELOPED ETF	$4,416	-52.7%	101	-50.0%	0.00%	0.0%
	Sell	MASTERBRAND INC	$4,228	-47.8%	348	-50.0%	0.00%	0.0%
PH	Sell	PARKER HANNIFIN CORP	$3,895	-50.1%	10	-50.0%	0.00%	0.0%
CI	Sell	CIGNA CORP NEW COM	$4,291	-49.0%	15	-50.0%	0.00%	0.0%
PFE	Sell	PFIZER INC COM	$4,577	-54.8%	138	-50.0%	0.00%	-25.0%
	Sell	ProSomnus Warrant	$2,374	-56.3%	33,919	-50.0%	0.00%	0.0%
CHX	Sell	CHAMPIONX CORPORATION COM	$2,636	-42.6%	74	-50.0%	0.00%	0.0%
SCI	Sell	SERVICE CORP INTL COM	$2,457	-55.8%	43	-50.0%	0.00%	0.0%
PM	Sell	PHILIP MORRIS INTL INC COM	$2,500	-52.6%	27	-50.0%	0.00%	0.0%
ORCL	Sell	ORACLE CORP COM	$3,178	-96.9%	30	-96.5%	0.00%	-94.4%
NCR	Sell	NCR CORPORATION	$2,697	-46.5%	100	-50.0%	0.00%	0.0%
	Sell	KYNDRYL HOLDINGS INC	$2,733	-43.2%	181	-50.0%	0.00%	0.0%
OTIS	Sell	OTIS WORLDWIDE CORP COM	$1,606	-54.9%	20	-50.0%	0.00%	0.0%
IWD	Sell	ISHARES RUSSELL 1000 VALUE E	$1,518	-51.9%	10	-50.0%	0.00%	0.0%
GWX	Sell	SPDR S&P INTL SMALL CAP	$1,020	-52.2%	35	-50.0%	0.00%	0.0%
VNQ	Sell	VANGUARD REAL ESTATE ETF	$908	-99.7%	12	-99.7%	0.00%	-99.1%
SLV	Sell	ISHARES SILVER TRUST ISHARES	$1,017	-51.3%	50	-50.0%	0.00%	0.0%
	New	VERALTO CORP	$848	–	11	–	0.00%	–
SIRI	Sell	SIRIUS XM HOLDINGS INC COM	$1,469	-50.1%	325	-50.0%	0.00%	0.0%
KTB	Sell	KONTOOR BRANDS INC COM	$1,625	-47.8%	37	-50.0%	0.00%	0.0%
LYG	Sell	LLOYDS BANKING GROUP PLC-ADR	$72	-52.0%	34	-50.0%	0.00%	–
CGC	Sell	CANOPY GROWTH CORP	$16	0.0%	20	-50.0%	0.00%	–
AJG	Exit	GALLAGHER ARTHUR J & CO COM	$0	–	-30	–	-0.00%	–
DLR	Exit	DIGITAL REALTY TRUST INC	$0	–	-42	–	-0.00%	–
USHY	Exit	ISHARES BROAD USD HIGH YIELDconv bonds	$0	–	-254	–	-0.00%	–
SCHP	Exit	SCHWAB U.S. TIPS ETF	$0	–	-350	–	-0.01%	–
	Exit	HALEON PLC-ADR	$0	–	-3,016	–	-0.01%	–
DELL	Exit	DELL TECHNOLOGIES -C	$0	–	-494	–	-0.01%	–
VMW	Exit	VMWARE INC-CLASS A	$0	–	-208	–	-0.01%	–
EBND	Exit	SPDR BLOOMBERG EM BONDconv bonds	$0	–	-1,320	–	-0.01%	–
SPIB	Exit	SPDR PORT INT CORP BOND ETFconv bonds	$0	–	-1,158	–	-0.01%	–
SCHR	Exit	SCHWAB INTERMEDIATE-TERM USconv bonds	$0	–	-1,294	–	-0.02%	–
SCHI	Exit	SCHWAB 5-10 YEAR CORPORATE Bconv bonds	$0	–	-1,666	–	-0.03%	–
	Exit	GSK PLC-SPON ADR	$0	–	-2,468	–	-0.03%	–
VMBS	Exit	VANGUARD MORTGAGE-BACKED SECconv bonds	$0	–	-2,454	–	-0.04%	–
	Exit	DIMENSIONAL INTERNATIONAL VA	$0	–	-7,796	–	-0.09%	–
BGCP	Exit	BGC PARTNERS INC-CL A	$0	–	-114,786	–	-0.18%	–
IWM	Exit	ISHARES TR RUSSELL 2000 ETF	$0	–	-4,206	–	-0.28%	–
DFUS	Exit	DIMENSIONAL US EQUITY ETF	$0	–	-16,770	–	-0.28%	–

Q2 2023

			Value		Shares		↓ Weighting
	New	DIMENSIONAL US HIGH PROFI ET	$15,446,086	–	581,992	–	5.42%	–
	New	APTUS ENHANCED YIELD ETFconv bonds	$15,011,810	–	616,132	–	5.27%	–
FRPH	New	FRP HLDGS INC COM	$11,281,648	–	195,964	–	3.96%	–
WNS	New	WNS HLDGS LTD SPON ADR	$9,182,858	–	124,564	–	3.22%	–
DBX	New	DROPBOX INC CL A	$8,777,844	–	329,128	–	3.08%	–
	New	CIVITAS RESOURCES INC	$8,266,822	–	119,170	–	2.90%	–
CRI	New	CARTER`S INC	$7,572,906	–	104,310	–	2.66%	–
CEF	New	SPROTT PHYSICAL GOLD & SILVER TR UNIT	$7,463,200	–	414,162	–	2.62%	–
SILC	New	SILICOM LTD ORD	$7,445,130	–	201,984	–	2.61%	–
BRKB	New	BERKSHIRE HATHAWAY CLASS B	$7,224,426	–	21,186	–	2.54%	–
JEF	New	JEFFERIES FINL GROUP INC COM	$7,180,906	–	216,488	–	2.52%	–
SKX	New	SKECHERS U S A INC CL A	$6,960,914	–	132,186	–	2.44%	–
VVV	New	VALVOLINE INC	$6,931,698	–	184,796	–	2.43%	–
FN	New	FABRINET SHS	$6,867,016	–	52,872	–	2.41%	–
FC	New	FRANKLIN COVEY CO COM	$6,723,050	–	153,916	–	2.36%	–
AYI	New	ACUITY BRANDS INC COM	$6,682,040	–	40,974	–	2.35%	–
UPS	New	UNITED PARCEL SERVICE INC CL B	$6,036,782	–	33,678	–	2.12%	–
CPRT	New	COPART INC COM	$5,884,686	–	64,518	–	2.07%	–
	New	CHICAGO ATLANTIC REAL ESTATE	$5,241,930	–	346,002	–	1.84%	–
PKE	New	PARK AEROSPACE CORP	$5,166,224	–	374,364	–	1.81%	–
GOOGL	New	ALPHABET INC CAP STK CL A	$5,088,448	–	42,510	–	1.79%	–
IAC	New	IAC INTERACTIVECORP NEW COM	$4,914,352	–	78,254	–	1.73%	–
IAU	New	ISHARES GOLD TRUST ISHARES	$4,550,934	–	125,060	–	1.60%	–
DG	New	DOLLAR GEN CORP NEW COM	$4,304,602	–	25,354	–	1.51%	–
AWI	New	ARMSTRONG WORLD INDUSTRIES	$4,214,548	–	57,372	–	1.48%	–
LYV	New	LIVE NATION ENTERTAINMENT IN	$4,009,934	–	44,012	–	1.41%	–
TJX	New	TJX COS INC NEW COM	$3,795,030	–	44,758	–	1.33%	–
GRMN	New	GARMIN LTD	$3,755,692	–	36,012	–	1.32%	–
LEVI	New	LEVI STRAUSS & CO- CLASS A	$3,695,118	–	256,072	–	1.30%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWARE COM	$3,440,012	–	23,376	–	1.21%	–
GMED	New	GLOBUS MED INC CL A	$3,394,852	–	57,018	–	1.19%	–
AAPL	New	APPLE INC COM	$3,262,904	–	16,822	–	1.15%	–
CBOE	New	CBOE GLOBAL MKTS INC COM	$3,053,886	–	22,128	–	1.07%	–
CNDT	New	CONDUENT INC	$3,001,500	–	882,794	–	1.05%	–
MKL	New	MARKEL CORP	$2,901,912	–	2,098	–	1.02%	–
VGR	New	VECTOR GROUP LTD	$2,826,322	–	220,634	–	0.99%	–
WSO	New	WATSCO INC	$2,816,012	–	7,382	–	0.99%	–
TLT	New	ISHARES 20 YEAR TREASURY BOconv bonds	$2,795,850	–	27,160	–	0.98%	–
ACN	New	ACCENTURE PLC IRELAND SHS CLASS A	$2,729,698	–	8,846	–	0.96%	–
CVS	New	CVS HEALTH CORP COM	$2,703,536	–	39,108	–	0.95%	–
LGIH	New	LGI HOMES INC COM	$2,498,972	–	18,526	–	0.88%	–
SCHX	New	SCHWAB STRATEGIC TR US LRG CAP ETF	$2,402,108	–	45,868	–	0.84%	–
PAGS	New	PAGSEGURO DIGITAL LTD-CL A	$2,247,022	–	238,032	–	0.79%	–
MSFT	New	MICROSOFT CORP COM	$2,039,944	–	5,990	–	0.72%	–
	New	LIBERTY LATIN AMERICA LTDconv bonds	$1,953,362	–	2,076,000	–	0.69%	–
	New	EZCORP INCconv bonds	$1,929,686	–	1,866,000	–	0.68%	–
XOM	New	EXXON MOBIL CORP COM	$1,700,604	–	15,856	–	0.60%	–
DLTR	New	DOLLAR TREE INC COM	$1,569,030	–	10,934	–	0.55%	–
QQQ	New	INVESCO QQQ TR UNIT SER 1	$1,556,614	–	4,214	–	0.55%	–
CSX	New	CSX CORP COM	$1,430,700	–	41,956	–	0.50%	–
REG	New	REGENCY CTRS CORP COM	$1,271,226	–	20,580	–	0.45%	–
NVDA	New	NVIDIA CORP COM	$1,215,760	–	2,874	–	0.43%	–
NEE	New	NEXTERA ENERGY INC COM	$1,191,690	–	16,060	–	0.42%	–
AMZN	New	AMAZON COM INC COM	$1,100,760	–	8,444	–	0.39%	–
XLK	New	TECHNOLOGY SELECT SECT SPDR	$1,044,550	–	6,008	–	0.37%	–
HHC	New	HOWARD HUGHES CORP/THE	$1,001,968	–	12,696	–	0.35%	–
BK	New	BANK OF NEW YORK MELLON CORP	$963,948	–	21,652	–	0.34%	–
ATVI	New	ACTIVISION BLIZZARD INC COM	$934,718	–	11,088	–	0.33%	–
CME	New	CME GROUP INC COM	$808,976	–	4,366	–	0.28%	–
DFUS	New	DIMENSIONAL US EQUITY ETF	$807,654	–	16,770	–	0.28%	–
IWM	New	ISHARES TR RUSSELL 2000 ETF	$787,714	–	4,206	–	0.28%	–
IWY	New	ISHARES RUSSELL TOP 200 GROW	$720,180	–	4,542	–	0.25%	–
XLV	New	HEALTH CARE SELECT SECTOR	$643,740	–	4,850	–	0.23%	–
	New	DIMENSIONAL INTERNATIONAL HI	$608,798	–	24,870	–	0.21%	–
IVV	New	ISHARES CORE S&P 500 ETF	$517,916	–	1,162	–	0.18%	–
JNJ	New	JOHNSON & JOHNSON COM	$510,936	–	3,086	–	0.18%	–
BGCP	New	BGC PARTNERS INC-CL A	$508,502	–	114,786	–	0.18%	–
CVX	New	CHEVRON CORP NEW COM	$469,532	–	2,984	–	0.16%	–
OPK	New	OPKO HEALTH INC	$434,000	–	200,000	–	0.15%	–
AVGO	New	BROADCOM INC	$401,064	–	462	–	0.14%	–
CG	New	CARLYLE GROUP INC/THE	$400,526	–	12,536	–	0.14%	–
UNH	New	UNITEDHEALTH GROUP INC COM	$399,080	–	830	–	0.14%	–
CAT	New	CATERPILLAR INC DEL COM	$391,768	–	1,592	–	0.14%	–
JPM	New	JPMORGAN CHASE & CO COM	$390,934	–	2,688	–	0.14%	–
FB	New	META PLATFORMS INC-CLASS A	$366,760	–	1,278	–	0.13%	–
PUBM	New	PUBMATIC INC-CLASS A	$365,600	–	20,000	–	0.13%	–
IBM	New	INTERNATIONAL BUSINESS MACHS COM	$360,484	–	2,694	–	0.13%	–
VNLA	New	JANUS HENDERSON SHORT DURATIconv bonds	$354,220	–	7,412	–	0.12%	–
SPY	New	SPDR S&P 500 ETF TR TR UNIT	$346,644	–	782	–	0.12%	–
FVD	New	FIRST TRUST VALUE LINE DVD	$346,218	–	8,636	–	0.12%	–
FV	New	FIRST TRUST DW FOCUS 5 FUND	$336,720	–	7,178	–	0.12%	–
NMRK	New	NEWMARK GROUP INC-CLASS A	$331,216	–	53,250	–	0.12%	–
VNQ	New	VANGUARD REAL ESTATE ETF	$315,794	–	3,780	–	0.11%	–
VZ	New	VERIZON COMMUNICATIONS INC COM	$310,016	–	8,336	–	0.11%	–
MA	New	MASTERCARD INCORPORATED CL A	$307,656	–	782	–	0.11%	–
CMCSA	New	COMCAST CORP NEW CL A	$304,328	–	7,324	–	0.11%	–
RDIV	New	INVESCO S&P ULTRA DIVIDEND	$292,532	–	7,474	–	0.10%	–
VOE	New	VANGUARD MID-CAP VALUE ETF	$284,232	–	2,054	–	0.10%	–
PG	New	PROCTER AND GAMBLE CO COM	$284,624	–	1,876	–	0.10%	–
DE	New	DEERE & CO	$283,634	–	700	–	0.10%	–
MRK	New	MERCK & CO. INC COM	$261,474	–	2,266	–	0.09%	–
AMD	New	ADVANCED MICRO DEVICES	$259,260	–	2,276	–	0.09%	–
XLE	New	SELECT SECTOR SPDR TR ENERGY	$259,094	–	3,192	–	0.09%	–
	New	DIMENSIONAL INTERNATIONAL VA	$256,088	–	7,796	–	0.09%	–
COST	New	COSTCO WHSL CORP NEW COM	$255,264	–	474	–	0.09%	–
ABBV	New	ABBVIE INC COM	$241,950	–	1,796	–	0.08%	–
T	New	AT&T INC COM	$243,382	–	15,260	–	0.08%	–
MCD	New	MCDONALDS CORP COM	$235,946	–	790	–	0.08%	–
MRVL	New	MARVELL TECHNOLOGY INC	$228,000	–	3,814	–	0.08%	–
TT	New	TRANE TECHNOLOGIES PLC SHS	$218,418	–	1,142	–	0.08%	–
	New	TOAST INC-CLASS A	$206,110	–	9,132	–	0.07%	–
LMT	New	LOCKHEED MARTIN CORP COM	$195,202	–	424	–	0.07%	–
HD	New	HOME DEPOT INC COM	$177,256	–	570	–	0.06%	–
V	New	VISA INC COM CL A	$172,486	–	726	–	0.06%	–
DFAS	New	DIMENSIONAL US SMALL CAP ETF	$162,208	–	2,960	–	0.06%	–
AMGN	New	AMGEN INC COM	$159,696	–	720	–	0.06%	–
LMBS	New	FIRST TRUST LOW DURATION OPP	$158,550	–	3,326	–	0.06%	–
NKE	New	NIKE INC CL B	$157,884	–	1,430	–	0.06%	–
ALL	New	ALLSTATE CORP COM	$152,220	–	1,396	–	0.05%	–
BC	New	BRUNSWICK CORP	$147,808	–	1,706	–	0.05%	–
HON	New	HONEYWELL INTL INC COM	$146,080	–	704	–	0.05%	–
BAC	New	BK OF AMERICA CORP COM	$141,442	–	4,930	–	0.05%	–
BLK	New	BLACKROCK INC COM	$142,576	–	206	–	0.05%	–
ISCV	New	ISHARES MORNINGSTAR SMALL-CA	$132,240	–	2,448	–	0.05%	–
LOW	New	LOWES COS INC COM	$125,490	–	556	–	0.04%	–
CF	New	CF INDUSTRIES HOLDINGS INC	$121,486	–	1,750	–	0.04%	–
ADP	New	AUTOMATIC DATA PROCESSING INC	$119,566	–	544	–	0.04%	–
DIS	New	DISNEY WALT CO COM DISNEY	$113,564	–	1,272	–	0.04%	–
WMT	New	WALMART INC COM	$115,242	–	734	–	0.04%	–
VMBS	New	VANGUARD MORTGAGE-BACKED SECconv bonds	$112,860	–	2,454	–	0.04%	–
APD	New	AIR PRODS & CHEMS INC COM	$111,848	–	374	–	0.04%	–
PEP	New	PEPSICO INC COM	$110,762	–	598	–	0.04%	–
CSCO	New	CISCO SYS INC COM	$112,062	–	2,166	–	0.04%	–
TGT	New	TARGET CORP COM	$105,256	–	798	–	0.04%	–
ORCL	New	ORACLE CORP COM	$102,418	–	860	–	0.04%	–
IJR	New	ISHARES TR CORE S&P SCP ETF	$99,650	–	1,000	–	0.04%	–
CRM	New	SALESFORCE INC	$99,714	–	472	–	0.04%	–
MMM	New	3M CO COM (SHORT)	$100,490	–	1,004	–	0.04%	–
PAYX	New	PAYCHEX INC COM	$91,286	–	816	–	0.03%	–
TMUS	New	T-MOBILE US INC	$91,118	–	656	–	0.03%	–
SBUX	New	STARBUCKS CORP COM	$92,468	–	934	–	0.03%	–
FGD	New	FIRST TRUST DJ GL SEL DVD	$90,906	–	4,240	–	0.03%	–
AFL	New	AFLAC INC COM	$91,856	–	1,316	–	0.03%	–
MSOS	New	ADVISORSHARES TR PURE US CANNABIS	$88,640	–	16,000	–	0.03%	–
	New	GSK PLC-SPON ADR	$87,960	–	2,468	–	0.03%	–
NJR	New	NEW JERSEY RES COM	$85,526	–	1,812	–	0.03%	–
IWR	New	ISHARES RUSSELL MID-CAP ETF	$86,176	–	1,180	–	0.03%	–
PLD	New	PROLOGIS INC. COM	$78,632	–	642	–	0.03%	–
LHX	New	L3HARRIS TECHNOLOGIES INC COM	$76,350	–	390	–	0.03%	–
SCHI	New	SCHWAB 5-10 YEAR CORPORATE Bconv bonds	$73,388	–	1,666	–	0.03%	–
F	New	FORD MOTOR CO	$73,532	–	4,860	–	0.03%	–
JOB	New	GEE GROUP INC COM	$73,186	–	142,858	–	0.03%	–
KMI	New	KINDER MORGAN INC	$74,506	–	4,326	–	0.03%	–
TXN	New	TEXAS INSTRUMENTS INC	$74,888	–	416	–	0.03%	–
EPD	New	ENTERPRISE PRODUCTS PARTNERS	$69,948	–	2,654	–	0.02%	–
SYY	New	SYSCO CORP COM	$70,936	–	956	–	0.02%	–
ECL	New	ECOLAB INC COM	$69,822	–	374	–	0.02%	–
TROW	New	PRICE T ROWE GROUP INC COM	$67,660	–	604	–	0.02%	–
LIN	New	LINDE PLC	$66,738	–	176	–	0.02%	–
SCHR	New	SCHWAB INTERMEDIATE-TERM USconv bonds	$63,768	–	1,294	–	0.02%	–
PRA	New	PROASSURANCE CORP	$63,136	–	4,184	–	0.02%	–
ENB	New	ENBRIDGE INC	$61,298	–	1,650	–	0.02%	–
GOOG	New	ALPHABET INC CAP STK CL C	$62,904	–	520	–	0.02%	–
BFB	New	BROWN FORMAN CORP CL B	$59,702	–	894	–	0.02%	–
PCH	New	POTLATCHDELTIC CORPORATION COM	$59,404	–	1,124	–	0.02%	–
SO	New	SOUTHERN CO COM	$60,134	–	856	–	0.02%	–
PPG	New	PPG INDS INC COM	$59,320	–	400	–	0.02%	–
GIS	New	GENERAL MLS INC COM	$56,298	–	734	–	0.02%	–
BP	New	BP PLC SPONSORED ADR	$56,606	–	1,604	–	0.02%	–
GLD	New	SPDR GOLD TR GOLD SHS	$53,482	–	300	–	0.02%	–
LYB	New	LYONDELLBASELL INDU-CL A	$52,162	–	568	–	0.02%	–
FBHS	New	FORTUNE BRANDS HOME & SEC INC COM	$50,078	–	696	–	0.02%	–
SJM	New	SMUCKER J M CO COM NEW	$52,276	–	354	–	0.02%	–
JBL	New	JABIL INC COM	$48,568	–	450	–	0.02%	–
FTSM	New	FIRST TRUST ENH SHORT MAT FDconv bonds	$45,152	–	760	–	0.02%	–
TSM	New	TAIWAN SEMICONDUCTOR-SP ADR	$44,808	–	444	–	0.02%	–
QCOM	New	QUALCOMM INC	$43,568	–	366	–	0.02%	–
VOO	New	VANGUARD INDEX FDS S&P 500 ETF SHS	$39,098	–	96	–	0.01%	–
PCN	New	PIMCO CORPORATE & INCOME STRconv bonds	$39,880	–	3,042	–	0.01%	–
NVO	New	NOVO-NORDISK A/S-SPONS ADR	$35,602	–	220	–	0.01%	–
NLS	New	NAUTILUS INC	$36,600	–	30,000	–	0.01%	–
KO	New	COCA COLA CO COM	$37,456	–	622	–	0.01%	–
SPIB	New	SPDR PORT INT CORP BOND ETFconv bonds	$37,184	–	1,158	–	0.01%	–
K	New	KELLOGG CO COM	$35,588	–	528	–	0.01%	–
BRP	New	BRP GROUP INC COM CL A	$34,692	–	1,400	–	0.01%	–
VYM	New	VANGUARD WHITEHALL FDS HIGH DIV YLD	$30,760	–	290	–	0.01%	–
EXC	New	EXELON CORP COM	$31,288	–	768	–	0.01%	–
	New	WARNER BROS DISCOVERY INC	$30,948	–	2,468	–	0.01%	–
VMW	New	VMWARE INC-CLASS A	$29,888	–	208	–	0.01%	–
EBND	New	SPDR BLOOMBERG EM BONDconv bonds	$27,932	–	1,320	–	0.01%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$27,132	–	52	–	0.01%	–
TR	New	TOOTSIE ROLL INDS INC COM	$26,628	–	752	–	0.01%	–
	New	RITCHIE BROS AUCTIONEERS	$25,800	–	430	–	0.01%	–
	New	HALEON PLC-ADR	$25,274	–	3,016	–	0.01%	–
DELL	New	DELL TECHNOLOGIES -C	$26,730	–	494	–	0.01%	–
AMP	New	AMERIPRISE FINANCIAL INC	$22,586	–	68	–	0.01%	–
DUK	New	DUKE ENERGY CORP	$21,538	–	240	–	0.01%	–
	New	CONSTELLATION ENERGY	$23,436	–	256	–	0.01%	–
	New	OSI ETF TR OSHARES EUR QLT	$22,100	–	800	–	0.01%	–
DEO	New	DIAGEO PLC-SPONSORED ADR	$20,818	–	120	–	0.01%	–
VBR	New	VANGUARD SMALL-CAP VALUE ETF	$18,524	–	112	–	0.01%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP COM	$19,788	–	202	–	0.01%	–
SCHP	New	SCHWAB U.S. TIPS ETF	$18,350	–	350	–	0.01%	–
AMT	New	AMERICAN TOWER CORP NEW COM	$16,290	–	84	–	0.01%	–
EL	New	LAUDER ESTEE COS INC CL A	$15,710	–	80	–	0.01%	–
BMY	New	BRISTOL-MYERS SQUIBB CO COM	$15,860	–	248	–	0.01%	–
DHR	New	DANAHER CORP DEL COM	$15,840	–	66	–	0.01%	–
EMLP	New	FIRST TRUST NORTH AMERICAN E	$17,874	–	662	–	0.01%	–
COP	New	CONOCOPHILLIPS	$13,884	–	134	–	0.01%	–
CL	New	COLGATE PALMOLIVE CO COM	$15,408	–	200	–	0.01%	–
PETS	New	PETMED EXPRESS INC COM	$13,790	–	1,000	–	0.01%	–
VB	New	VANGUARD SMALL-CAP ETF	$13,922	–	70	–	0.01%	–
ETSY	New	ETSY INC COM	$14,552	–	172	–	0.01%	–
SRE	New	SEMPRA ENERGY	$15,432	–	106	–	0.01%	–
MDT	New	MEDTRONIC PLC SHS	$14,800	–	168	–	0.01%	–
EOG	New	EOG RES INC COM	$14,648	–	128	–	0.01%	–
EFAV	New	ISHARES MSCI EAFE MIN VOL FACTOR ETF	$15,660	–	232	–	0.01%	–
DDOG	New	DATADOG INC - CLASS A	$12,986	–	132	–	0.01%	–
VWO	New	VANGUARD FTSE EMERGING MARKE	$14,644	–	360	–	0.01%	–
UNP	New	UNION PACIFIC CORP	$11,458	–	56	–	0.00%	–
CB	New	CHUBB LIMITED COM	$11,168	–	58	–	0.00%	–
VST	New	VISTRA CORP COM	$11,236	–	428	–	0.00%	–
PFE	New	PFIZER INC COM	$10,124	–	276	–	0.00%	–
SNOW	New	SNOWFLAKE INC-CLASS A (SHORT)	$12,318	–	70	–	0.00%	–
VFC	New	V F CORP COM	$10,118	–	530	–	0.00%	–
FDX	New	FEDEX CORP	$7,932	–	32	–	0.00%	–
RHHBY	New	ROCHE HOLDINGS LTD-SPONS ADR	$9,780	–	256	–	0.00%	–
USHY	New	ISHARES BROAD USD HIGH YIELDconv bonds	$8,966	–	254	–	0.00%	–
	New	MASTERBRAND INC	$8,094	–	696	–	0.00%	–
VEA	New	VANGUARD FTSE DEVELOPED ETF	$9,328	–	202	–	0.00%	–
VO	New	VANGUARD MID-CAP ETF	$8,366	–	38	–	0.00%	–
	New	VITESSE ENERGY INC	$8,154	–	364	–	0.00%	–
PH	New	PARKER HANNIFIN CORP	$7,800	–	20	–	0.00%	–
CI	New	CIGNA CORP NEW COM	$8,418	–	30	–	0.00%	–
PM	New	PHILIP MORRIS INTL INC COM	$5,272	–	54	–	0.00%	–
SCI	New	SERVICE CORP INTL COM	$5,554	–	86	–	0.00%	–
NCR	New	NCR CORPORATION	$5,040	–	200	–	0.00%	–
	New	KYNDRYL HOLDINGS INC	$4,808	–	362	–	0.00%	–
	New	ProSomnus Warrant	$5,428	–	67,838	–	0.00%	–
DLR	New	DIGITAL REALTY TRUST INC	$4,776	–	42	–	0.00%	–
AJG	New	GALLAGHER ARTHUR J & CO COM	$6,718	–	30	–	0.00%	–
CHX	New	CHAMPIONX CORPORATION COM	$4,594	–	148	–	0.00%	–
GWX	New	SPDR S&P INTL SMALL CAP	$2,136	–	70	–	0.00%	–
SIRI	New	SIRIUS XM HOLDINGS INC COM	$2,944	–	650	–	0.00%	–
SLV	New	ISHARES SILVER TRUST ISHARES	$2,090	–	100	–	0.00%	–
KTB	New	KONTOOR BRANDS INC COM	$3,116	–	74	–	0.00%	–
OTIS	New	OTIS WORLDWIDE CORP COM	$3,560	–	40	–	0.00%	–
IWD	New	ISHARES RUSSELL 1000 VALUE E	$3,156	–	20	–	0.00%	–
CGC	New	CANOPY GROWTH CORP	$16	–	40	–	0.00%	–
LYG	New	LLOYDS BANKING GROUP PLC-ADR	$150	–	68	–	0.00%	–

Q4 2022

			Value		Shares		↓ Weighting
NLS	Exit	NAUTILUS INC	$0	–	-15,000	–	-0.02%	–
JOB	Exit	GEE GROUP INC COM	$0	–	-71,429	–	-0.04%	–
PUBM	Exit	PUBMATIC INC-CLASS A	$0	–	-10,000	–	-0.14%	–
OPK	Exit	OPKO HEALTH INC	$0	–	-100,000	–	-0.15%	–
CVX	Exit	CHEVRON CORP NEW COM	$0	–	-1,470	–	-0.17%	–
ISCV	Exit	ISHARES MORNINGSTAR SMALL-CA	$0	–	-4,546	–	-0.18%	–
JPM	Exit	JPMORGAN CHASE & CO COM	$0	–	-2,319	–	-0.20%	–
EPS	Exit	WISDOMTREE US LARGE CAP FUND	$0	–	-6,450	–	-0.20%	–
FVD	Exit	FIRST TRUST VALUE LINE DVD	$0	–	-7,348	–	-0.21%	–
JNJ	Exit	JOHNSON & JOHNSON COM	$0	–	-1,609	–	-0.21%	–
GLD	Exit	SPDR GOLD TR GOLD SHS	$0	–	-1,800	–	-0.23%	–
XLV	Exit	HEALTH CARE SELECT SECTOR	$0	–	-2,425	–	-0.24%	–
HQI	Exit	HIREQUEST INC	$0	–	-22,930	–	-0.24%	–
VOE	Exit	VANGUARD MID-CAP VALUE ETF	$0	–	-2,502	–	-0.25%	–
ESTE	Exit	EARTHSTONE ENERGY INC - A	$0	–	-25,168	–	-0.25%	–
VNQ	Exit	VANGUARD REAL ESTATE ETF	$0	–	-4,096	–	-0.27%	–
IWM	Exit	ISHARES TR RUSSELL 2000 ETF	$0	–	-2,090	–	-0.28%	–
FV	Exit	FIRST TRUST DW FOCUS 5 FUND	$0	–	-9,238	–	-0.31%	–
CME	Exit	CME GROUP INC COM	$0	–	-2,183	–	-0.32%	–
AMZN	Exit	AMAZON COM INC COM	$0	–	-3,452	–	-0.32%	–
RDIV	Exit	INVESCO S&P ULTRA DIVIDEND	$0	–	-10,419	–	-0.32%	–
	Exit	WISDOMTREE INVTS INCconv bonds	$0	–	-400,000	–	-0.32%	–
IVV	Exit	ISHARES CORE S&P 500 ETF	$0	–	-1,109	–	-0.32%	–
	Exit	ARDAGH METAL PACKAGING SA	$0	–	-102,182	–	-0.39%	–
REG	Exit	REGENCY CTRS CORP COM	$0	–	-10,290	–	-0.45%	–
MSFT	Exit	MICROSOFT CORP COM	$0	–	-2,445	–	-0.46%	–
SPY	Exit	SPDR S&P 500 ETF TR TR UNIT	$0	–	-1,624	–	-0.47%	–
CSX	Exit	CSX CORP COM	$0	–	-21,921	–	-0.48%	–
ATVI	Exit	ACTIVISION BLIZZARD INC COM	$0	–	-7,922	–	-0.48%	–
NEE	Exit	NEXTERA ENERGY INC COM	$0	–	-7,509	–	-0.48%	–
IWY	Exit	ISHARES RUSSELL TOP 200 GROW	$0	–	-5,180	–	-0.50%	–
XOM	Exit	EXXON MOBIL CORP COM	$0	–	-7,633	–	-0.54%	–
AAPL	Exit	APPLE INC COM	$0	–	-5,059	–	-0.57%	–
HLIO	Exit	HELIOS TECHNOLOGIES INC	$0	–	-14,452	–	-0.60%	–
PCH	Exit	POTLATCHDELTIC CORPORATION COM	$0	–	-17,857	–	-0.60%	–
RNRG	Exit	GLOBAL X FDS RENEWABLE ENERGY	$0	–	-57,329	–	-0.60%	–
DLTR	Exit	DOLLAR TREE INC COM	$0	–	-5,512	–	-0.61%	–
	Exit	EZCORP INCconv bonds	$0	–	-933,000	–	-0.79%	–
DLA	Exit	DELTA APPAREL INC	$0	–	-81,871	–	-0.93%	–
ACN	Exit	ACCENTURE PLC IRELAND SHS CLASS A	$0	–	-4,976	–	-1.04%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWARE COM	$0	–	-11,818	–	-1.05%	–
HTH	Exit	HILLTOP HOLDINGS INC	$0	–	-56,232	–	-1.14%	–
TJX	Exit	TJX COS INC NEW COM	$0	–	-22,801	–	-1.15%	–
CNDT	Exit	CONDUENT INC	$0	–	-442,869	–	-1.20%	–
CVS	Exit	CVS HEALTH CORP COM	$0	–	-15,517	–	-1.20%	–
LEVI	Exit	LEVI STRAUSS & CO- CLASS A	$0	–	-106,376	–	-1.25%	–
PAGS	Exit	PAGSEGURO DIGITAL LTD-CL A	$0	–	-116,768	–	-1.26%	–
CBOE	Exit	CBOE GLOBAL MKTS INC COM	$0	–	-13,189	–	-1.26%	–
GMED	Exit	GLOBUS MED INC CL A	$0	–	-28,509	–	-1.38%	–
CPRT	Exit	COPART INC COM	$0	–	-16,954	–	-1.47%	–
IAU	Exit	ISHARES GOLD TRUST ISHARES	$0	–	-62,530	–	-1.60%	–
GOOGL	Exit	ALPHABET INC CAP STK CL A	$0	–	-21,641	–	-1.68%	–
VVV	Exit	VALVOLINE INC	$0	–	-87,926	–	-1.81%	–
DG	Exit	DOLLAR GEN CORP NEW COM	$0	–	-9,682	–	-1.89%	–
PKE	Exit	PARK AEROSPACE CORP	$0	–	-213,578	–	-1.92%	–
IAC	Exit	IAC INTERACTIVECORP NEW COM	$0	–	-46,796	–	-2.11%	–
CEF	Exit	SPROTT PHYSICAL GOLD & SILVER TR UNIT	$0	–	-168,792	–	-2.14%	–
UPS	Exit	UNITED PARCEL SERVICE INC CL B	$0	–	-16,830	–	-2.21%	–
LGIH	Exit	LGI HOMES INC COM	$0	–	-34,448	–	-2.28%	–
BRKB	Exit	BERKSHIRE HATHAWAY CLASS B	$0	–	-10,604	–	-2.30%	–
AYI	Exit	ACUITY BRANDS INC COM	$0	–	-18,969	–	-2.43%	–
FC	Exit	FRANKLIN COVEY CO COM	$0	–	-67,747	–	-2.50%	–
CRI	Exit	CARTER`S INC	$0	–	-47,202	–	-2.52%	–
SILC	Exit	SILICOM LTD ORD	$0	–	-88,398	–	-2.54%	–
SKX	Exit	SKECHERS U S A INC CL A	$0	–	-105,021	–	-2.71%	–
	Exit	LIBERTY LATIN AMERICA LTDconv bonds	$0	–	-4,049,000	–	-2.84%	–
FN	Exit	FABRINET SHS	$0	–	-36,663	–	-2.85%	–
JEF	Exit	JEFFERIES FINL GROUP INC COM	$0	–	-128,125	–	-3.08%	–
DBX	Exit	DROPBOX INC CL A	$0	–	-198,481	–	-3.34%	–
FRPH	Exit	FRP HLDGS INC COM	$0	–	-94,917	–	-4.20%	–
WNS	Exit	WNS HLDGS LTD SPON ADR	$0	–	-63,427	–	-4.22%	–
SCHX	Exit	SCHWAB STRATEGIC TR US LRG CAP ETF	$0	–	-131,757	–	-4.54%	–
	Exit	CIVITAS RESOURCES INC	$0	–	-111,799	–	-5.22%	–
	Exit	EZCORP INCconv bonds	$0	–	-13,700,000	–	-9.55%	–

Q3 2022

			Value		Shares		↓ Weighting
	Sell	CIVITAS RESOURCES INC	$6,416,000	+0.1%	111,799	-8.8%	5.22%	+2.7%
SCHX	Buy	SCHWAB STRATEGIC TR US LRG CAP ETF	$5,580,000	+3.6%	131,757	+9.3%	4.54%	+6.3%
WNS	Sell	WNS HLDGS LTD SPON ADR	$5,191,000	-0.8%	63,427	-9.6%	4.22%	+1.7%
FRPH	Buy	FRP HLDGS INC COM	$5,160,000	-9.3%	94,917	+0.7%	4.20%	-7.0%
DBX	Sell	DROPBOX INC CL A	$4,113,000	-10.3%	198,481	-9.1%	3.34%	-8.0%
JEF	Sell	JEFFERIES FINL GROUP INC COM	$3,780,000	+0.2%	128,125	-6.2%	3.08%	+2.8%
SKX	Sell	SKECHERS U S A INC CL A	$3,331,000	-35.1%	105,021	-27.2%	2.71%	-33.5%
SILC	Sell	SILICOM LTD ORD	$3,124,000	-0.3%	88,398	-5.0%	2.54%	+2.3%
CRI	New	CARTER`S INC	$3,093,000	–	47,202	–	2.52%	–
FC	Sell	FRANKLIN COVEY CO COM	$3,075,000	-10.1%	67,747	-8.5%	2.50%	-7.8%
BRKB	Sell	BERKSHIRE HATHAWAY CLASS B	$2,831,000	-3.0%	10,604	-0.8%	2.30%	-0.5%
LGIH	Sell	LGI HOMES INC COM	$2,803,000	-14.5%	34,448	-8.7%	2.28%	-12.3%
CEF	Buy	SPROTT PHYSICAL GOLD & SILVER TR UNIT	$2,628,000	+7.2%	168,792	+15.8%	2.14%	+9.9%
IAC	Buy	IAC INTERACTIVECORP NEW COM	$2,592,000	+0.1%	46,796	+37.3%	2.11%	+2.6%
DG	Sell	DOLLAR GEN CORP NEW COM	$2,322,000	-20.4%	9,682	-18.6%	1.89%	-18.4%
VVV	Buy	VALVOLINE INC	$2,228,000	+47.9%	87,926	+68.3%	1.81%	+51.6%
GOOGL	Buy	ALPHABET INC CAP STK CL A	$2,070,000	-21.2%	21,641	+1695.9%	1.68%	-19.2%
CBOE	Sell	CBOE GLOBAL MKTS INC COM	$1,548,000	-26.5%	13,189	-29.1%	1.26%	-24.7%
PAGS	New	PAGSEGURO DIGITAL LTD-CL A	$1,545,000	–	116,768	–	1.26%	–
CNDT	Sell	CONDUENT INC	$1,479,000	-55.7%	442,869	-42.7%	1.20%	-54.6%
TJX	Sell	TJX COS INC NEW COM	$1,416,000	-5.7%	22,801	-15.2%	1.15%	-3.3%
DLA	Buy	DELTA APPAREL INC	$1,145,000	-0.9%	81,871	+101.1%	0.93%	+1.6%
RNRG	Buy	GLOBAL X FDS RENEWABLE ENERGY	$736,000	+27.3%	57,329	+40.5%	0.60%	+30.8%
PCH	Sell	POTLATCHDELTIC CORPORATION COM	$733,000	-60.2%	17,857	-57.1%	0.60%	-59.2%
HLIO	New	HELIOS TECHNOLOGIES INC	$731,000	–	14,452	–	0.60%	–
AAPL	Buy	APPLE INC COM	$699,000	+6.1%	5,059	+5.0%	0.57%	+8.8%
IWY	New	ISHARES RUSSELL TOP 200 GROW	$619,000	–	5,180	–	0.50%	–
NEE	Buy	NEXTERA ENERGY INC COM	$589,000	+13.5%	7,509	+12.0%	0.48%	+16.3%
CSX	New	CSX CORP COM	$584,000	–	21,921	–	0.48%	–
SPY	New	SPDR S&P 500 ETF TR TR UNIT	$580,000	–	1,624	–	0.47%	–
MSFT	Buy	MICROSOFT CORP COM	$569,000	+10.9%	2,445	+22.4%	0.46%	+13.8%
	New	ARDAGH METAL PACKAGING SA	$475,000	–	102,182	–	0.39%	–
IVV	Buy	ISHARES CORE S&P 500 ETF	$398,000	+10.9%	1,109	+17.2%	0.32%	+13.7%
RDIV	New	INVESCO S&P ULTRA DIVIDEND	$393,000	–	10,419	–	0.32%	–
AMZN	Buy	AMAZON COM INC COM	$390,000	+81.4%	3,452	+70.9%	0.32%	+85.4%
FV	New	FIRST TRUST DW FOCUS 5 FUND	$379,000	–	9,238	–	0.31%	–
IWM	New	ISHARES TR RUSSELL 2000 ETF	$345,000	–	2,090	–	0.28%	–
VNQ	New	VANGUARD REAL ESTATE ETF	$328,000	–	4,096	–	0.27%	–
ESTE	Sell	EARTHSTONE ENERGY INC - A	$310,000	-75.6%	25,168	-73.0%	0.25%	-75.0%
VOE	New	VANGUARD MID-CAP VALUE ETF	$305,000	–	2,502	–	0.25%	–
XLV	New	HEALTH CARE SELECT SECTOR	$294,000	–	2,425	–	0.24%	–
FVD	New	FIRST TRUST VALUE LINE DVD	$263,000	–	7,348	–	0.21%	–
JNJ	Buy	JOHNSON & JOHNSON COM	$263,000	+9.1%	1,609	+18.3%	0.21%	+12.0%
JPM	Buy	JPMORGAN CHASE & CO COM	$242,000	-7.3%	2,319	+0.0%	0.20%	-4.8%
ISCV	New	ISHARES MORNINGSTAR SMALL-CA	$216,000	–	4,546	–	0.18%	–
CVX	New	CHEVRON CORP NEW COM	$211,000	–	1,470	–	0.17%	–
OPK	New	OPKO HEALTH INC	$189,000	–	100,000	–	0.15%	–
PUBM	New	PUBMATIC INC-CLASS A	$166,000	–	10,000	–	0.14%	–
NLS	New	NAUTILUS INC	$24,000	–	15,000	–	0.02%	–
DFH	Exit	DREAM FINDERS HOMES INC COM CL A	$0	–	-47,100	–	-0.40%	–
AAN	Exit	AARON`S CO INC/THE	$0	–	-51,929	–	-0.61%	–
MTCH	Exit	MATCH GROUP INC COM	$0	–	-14,154	–	-0.78%	–
V	Exit	VISA INC COM CL A	$0	–	-5,841	–	-0.91%	–
	Exit	ATENTO SA	$0	–	-122,986	–	-0.98%	–

Q2 2022

			Value		Shares		↓ Weighting
	New	EZCORP INCconv bonds	$12,064,000	–	13,700,000	–	9.57%	–
	New	CIVITAS RESOURCES INC	$6,409,000	–	122,561	–	5.08%	–
FRPH	New	FRP HLDGS INC COM	$5,690,000	–	94,283	–	4.51%	–
SCHX	New	SCHWAB STRATEGIC TR US LRG CAP ETF	$5,384,000	–	120,554	–	4.27%	–
WNS	New	WNS HLDGS LTD SPON ADR	$5,234,000	–	70,128	–	4.15%	–
SKX	New	SKECHERS U S A INC CL A	$5,136,000	–	144,341	–	4.07%	–
DBX	New	DROPBOX INC CL A	$4,584,000	–	218,377	–	3.64%	–
JEF	New	JEFFERIES FINL GROUP INC COM	$3,772,000	–	136,563	–	2.99%	–
	New	LIBERTY LATIN AMERICA LTDconv bonds	$3,495,000	–	4,049,000	–	2.77%	–
FC	New	FRANKLIN COVEY CO COM	$3,419,000	–	74,028	–	2.71%	–
CNDT	New	CONDUENT INC	$3,340,000	–	773,038	–	2.65%	–
LGIH	New	LGI HOMES INC COM	$3,278,000	–	37,720	–	2.60%	–
SILC	New	SILICOM LTD ORD	$3,132,000	–	93,063	–	2.48%	–
UPS	New	UNITED PARCEL SERVICE INC CL B	$3,072,000	–	16,830	–	2.44%	–
FN	New	FABRINET SHS	$2,973,000	–	36,663	–	2.36%	–
AYI	New	ACUITY BRANDS INC COM	$2,922,000	–	18,969	–	2.32%	–
BRKB	New	BERKSHIRE HATHAWAY CLASS B	$2,919,000	–	10,692	–	2.32%	–
DG	New	DOLLAR GEN CORP NEW COM	$2,918,000	–	11,890	–	2.31%	–
PKE	New	PARK AEROSPACE CORP	$2,725,000	–	213,578	–	2.16%	–
GOOGL	New	ALPHABET INC CAP STK CL A	$2,626,000	–	1,205	–	2.08%	–
IAC	New	IAC INTERACTIVECORP NEW COM	$2,590,000	–	34,086	–	2.05%	–
CEF	New	SPROTT PHYSICAL GOLD & SILVER TR UNIT	$2,452,000	–	145,803	–	1.94%	–
IAU	New	ISHARES GOLD TRUST ISHARES	$2,145,000	–	62,530	–	1.70%	–
CBOE	New	CBOE GLOBAL MKTS INC COM	$2,107,000	–	18,615	–	1.67%	–
CPRT	New	COPART INC COM	$1,842,000	–	16,954	–	1.46%	–
PCH	New	POTLATCHDELTIC CORPORATION COM	$1,840,000	–	41,641	–	1.46%	–
LEVI	New	LEVI STRAUSS & CO- CLASS A	$1,736,000	–	106,376	–	1.38%	–
GMED	New	GLOBUS MED INC CL A	$1,600,000	–	28,509	–	1.27%	–
VVV	New	VALVOLINE INC	$1,506,000	–	52,251	–	1.20%	–
TJX	New	TJX COS INC NEW COM	$1,502,000	–	26,888	–	1.19%	–
HTH	New	HILLTOP HOLDINGS INC	$1,499,000	–	56,232	–	1.19%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWARE COM	$1,448,000	–	11,818	–	1.15%	–
CVS	New	CVS HEALTH CORP COM	$1,438,000	–	15,517	–	1.14%	–
ACN	New	ACCENTURE PLC IRELAND SHS CLASS A	$1,382,000	–	4,976	–	1.10%	–
ESTE	New	EARTHSTONE ENERGY INC - A	$1,273,000	–	93,247	–	1.01%	–
	New	ATENTO SA	$1,229,000	–	122,986	–	0.98%	–
DLA	New	DELTA APPAREL INC	$1,155,000	–	40,716	–	0.92%	–
V	New	VISA INC COM CL A	$1,150,000	–	5,841	–	0.91%	–
MTCH	New	MATCH GROUP INC COM	$986,000	–	14,154	–	0.78%	–
	New	EZCORP INCconv bonds	$960,000	–	933,000	–	0.76%	–
DLTR	New	DOLLAR TREE INC COM	$859,000	–	5,512	–	0.68%	–
AAN	New	AARON`S CO INC/THE	$768,000	–	51,929	–	0.61%	–
AAPL	New	APPLE INC COM	$659,000	–	4,818	–	0.52%	–
XOM	New	EXXON MOBIL CORP COM	$654,000	–	7,633	–	0.52%	–
ATVI	New	ACTIVISION BLIZZARD INC COM	$617,000	–	7,922	–	0.49%	–
REG	New	REGENCY CTRS CORP COM	$610,000	–	10,290	–	0.48%	–
RNRG	New	GLOBAL X FDS RENEWABLE ENERGY	$578,000	–	40,805	–	0.46%	–
NEE	New	NEXTERA ENERGY INC COM	$519,000	–	6,702	–	0.41%	–
MSFT	New	MICROSOFT CORP COM	$513,000	–	1,997	–	0.41%	–
DFH	New	DREAM FINDERS HOMES INC COM CL A	$501,000	–	47,100	–	0.40%	–
CME	New	CME GROUP INC COM	$447,000	–	2,183	–	0.36%	–
	New	WISDOMTREE INVTS INCconv bonds	$417,000	–	400,000	–	0.33%	–
IVV	New	ISHARES CORE S&P 500 ETF	$359,000	–	946	–	0.28%	–
HQI	New	HIREQUEST INC	$323,000	–	22,930	–	0.26%	–
GLD	New	SPDR GOLD TR GOLD SHS	$303,000	–	1,800	–	0.24%	–
EPS	New	WISDOMTREE US LARGE CAP FUND	$263,000	–	6,450	–	0.21%	–
JPM	New	JPMORGAN CHASE & CO COM	$261,000	–	2,318	–	0.21%	–
JNJ	New	JOHNSON & JOHNSON COM	$241,000	–	1,360	–	0.19%	–
AMZN	New	AMAZON COM INC COM	$215,000	–	2,020	–	0.17%	–
JOB	New	GEE GROUP INC COM	$37,000	–	71,429	–	0.03%	–

Q4 2021

			Value		Shares		↓ Weighting
JOB	Exit	GEE GROUP INC COM	$0	–	-71,429	–	-0.02%	–
AMZN	Exit	AMAZON COM INC COM	$0	–	-66	–	-0.11%	–
GLD	Exit	SPDR GOLD TR GOLD SHS	$0	–	-1,650	–	-0.13%	–
JPM	Exit	JPMORGAN CHASE & CO COM	$0	–	-1,738	–	-0.14%	–
MSFT	Exit	MICROSOFT CORP COM	$0	–	-1,386	–	-0.19%	–
SP	Exit	SP PLUS CORP COM	$0	–	-13,008	–	-0.20%	–
AAPL	Exit	APPLE INC COM	$0	–	-3,079	–	-0.22%	–
QQQ	Exit	INVESCO QQQ TR UNIT SER 1	$0	–	-1,232	–	-0.22%	–
XOM	Exit	EXXON MOBIL CORP COM	$0	–	-7,516	–	-0.22%	–
NEE	Exit	NEXTERA ENERGY INC COM	$0	–	-6,691	–	-0.26%	–
RNRG	Exit	GLOBAL X FDS RENEWABLE ENERGY	$0	–	-37,235	–	-0.29%	–
DFH	Exit	DREAM FINDERS HOMES INC COM CL A	$0	–	-35,000	–	-0.30%	–
ATVI	Exit	ACTIVISION BLIZZARD INC COM	$0	–	-9,219	–	-0.35%	–
CME	Exit	CME GROUP INC COM	$0	–	-4,482	–	-0.43%	–
CWH	Exit	CAMPING WORLD HOLDINGS INC-A	$0	–	-22,659	–	-0.44%	–
MA	Exit	MASTERCARD INCORPORATED CL A	$0	–	-2,662	–	-0.46%	–
IJR	Exit	ISHARES TR CORE S&P SCP ETF	$0	–	-8,665	–	-0.47%	–
VMEO	Exit	VIMEO INC	$0	–	-34,712	–	-0.50%	–
MO	Exit	ALTRIA GROUP INC COM	$0	–	-23,000	–	-0.52%	–
DLTR	Exit	DOLLAR TREE INC COM	$0	–	-11,696	–	-0.55%	–
REG	Exit	REGENCY CTRS CORP COM	$0	–	-17,669	–	-0.59%	–
CVS	Exit	CVS HEALTH CORP COM	$0	–	-15,517	–	-0.65%	–
FB	Exit	FACEBOOK INC CL A	$0	–	-4,201	–	-0.70%	–
V	Exit	VISA INC COM CL A	$0	–	-7,514	–	-0.83%	–
MSOS	Exit	ADVISORSHARES TR PURE US CANNABIS	$0	–	-54,142	–	-0.84%	–
	Exit	WISDOMTREE INVTS INCconv bonds	$0	–	-1,500,000	–	-0.86%	–
SILC	Exit	SILICOM LTD ORD	$0	–	-40,348	–	-0.86%	–
FIVE	Exit	FIVE BELOW INC COM	$0	–	-9,910	–	-0.87%	–
ANGI	Exit	ANGI HOMESERVICES INC COM CL A	$0	–	-153,955	–	-0.94%	–
EA	Exit	ELECTRONIC ARTS INC COM	$0	–	-13,437	–	-0.94%	–
IAU	Exit	ISHARES GOLD TRUST ISHARES	$0	–	-61,350	–	-1.01%	–
GMED	Exit	GLOBUS MED INC CL A	$0	–	-28,509	–	-1.08%	–
MTCH	Exit	MATCH GROUP INC COM	$0	–	-14,241	–	-1.10%	–
TJX	Exit	TJX COS INC NEW COM	$0	–	-34,582	–	-1.13%	–
FN	Exit	FABRINET SHS	$0	–	-23,564	–	-1.19%	–
ETSY	Exit	ETSY INC COM	$0	–	-11,835	–	-1.22%	–
PKE	Exit	PARK AEROSPACE CORP	$0	–	-195,610	–	-1.32%	–
GOOGL	Exit	ALPHABET INC CAP STK CL A	$0	–	-1,006	–	-1.33%	–
CEF	Exit	SPROTT PHYSICAL GOLD & SILVER TR UNIT	$0	–	-164,419	–	-1.39%	–
	Exit	EZCORP INCconv bonds	$0	–	-2,765,000	–	-1.41%	–
CBOE	Exit	CBOE GLOBAL MKTS INC COM	$0	–	-23,055	–	-1.41%	–
IAC	Exit	IAC INTERACTIVECORP NEW COM	$0	–	-22,984	–	-1.48%	–
UPS	Exit	UNITED PARCEL SERVICE INC CL B	$0	–	-16,790	–	-1.51%	–
BURL	Exit	BURLINGTON STORES INC COM	$0	–	-11,100	–	-1.56%	–
DG	Exit	DOLLAR GEN CORP NEW COM	$0	–	-15,643	–	-1.64%	–
PCH	Exit	POTLATCHDELTIC CORPORATION COM	$0	–	-64,355	–	-1.64%	–
IAA	Exit	IAA INC COM	$0	–	-65,684	–	-1.77%	–
BRKB	Exit	BERKSHIRE HATHAWAY CLASS B	$0	–	-13,374	–	-1.80%	–
ACN	Exit	ACCENTURE PLC IRELAND SHS CLASS A	$0	–	-11,718	–	-1.85%	–
	Exit	LIBERTY LATIN AMERICA LTDconv bonds	$0	–	-3,750,000	–	-1.89%	–
TWTR	Exit	TWITTER INC COM	$0	–	-64,235	–	-1.92%	–
CPRT	Exit	COPART INC COM	$0	–	-28,289	–	-1.94%	–
AYI	Exit	ACUITY BRANDS INC COM	$0	–	-22,676	–	-1.94%	–
TPB	Exit	TURNING PT BRANDS INC COM	$0	–	-86,403	–	-2.04%	–
FC	Exit	FRANKLIN COVEY CO COM	$0	–	-103,321	–	-2.08%	–
LGIH	Exit	LGI HOMES INC COM	$0	–	-31,488	–	-2.21%	–
DBX	Exit	DROPBOX INC CL A	$0	–	-167,646	–	-2.42%	–
JEF	Exit	JEFFERIES FINL GROUP INC COM	$0	–	-134,197	–	-2.46%	–
FRPH	Exit	FRP HLDGS INC COM	$0	–	-89,133	–	-2.46%	–
	Exit	GOLAR LNG LTDconv bonds	$0	–	-5,000,000	–	-2.46%	–
SCHX	Exit	SCHWAB STRATEGIC TR US LRG CAP ETF	$0	–	-49,141	–	-2.53%	–
	Exit	WISDOM TREE INVESTMENTS INCconv bonds	$0	–	-5,500,000	–	-2.61%	–
	Exit	CONSOLIDATED TOMOKA LD COconv bonds	$0	–	-5,614,000	–	-3.00%	–
	Exit	APOLLO COMMERCIAL REAL ESTATE FINANCE INCconv bonds	$0	–	-7,000,000	–	-3.50%	–
WNS	Exit	WNS HLDGS LTD SPON ADR	$0	–	-89,542	–	-3.62%	–
SKX	Exit	SKECHERS U S A INC CL A	$0	–	-198,551	–	-4.13%	–
	Exit	EZCORP INCconv bonds	$0	–	-9,700,000	–	-4.40%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWARE COM	$0	–	-63,710	–	-4.85%	–
	Exit	TEEKAY CORPORATIONconv bonds	$0	–	-13,657,000	–	-6.62%	–

Q3 2021

			Value		Shares		↓ Weighting
	Buy	TEEKAY CORPORATIONconv bonds	$13,394,000	+59.3%	13,657,000	+58.7%	6.62%	+49.0%
TTWO	Buy	TAKE-TWO INTERACTIVE SOFTWARE COM	$9,816,000	+8.5%	63,710	+24.7%	4.85%	+1.5%
	Buy	EZCORP INCconv bonds	$8,906,000	+278.0%	9,700,000	+259.3%	4.40%	+253.7%
SKX	Sell	SKECHERS U S A INC CL A	$8,363,000	-15.5%	198,551	-0.1%	4.13%	-21.0%
WNS	Buy	WNS HLDGS LTD SPON ADR	$7,325,000	+2.5%	89,542	+0.0%	3.62%	-4.2%
	New	APOLLO COMMERCIAL REAL ESTATE FINANCE INCconv bonds	$7,092,000	–	7,000,000	–	3.50%	–
	Buy	WISDOM TREE INVESTMENTS INCconv bonds	$5,274,000	+58.3%	5,500,000	+57.1%	2.61%	+48.1%
SCHX	Buy	SCHWAB STRATEGIC TR US LRG CAP ETF	$5,112,000	+48.9%	49,141	+48.8%	2.53%	+39.3%
FRPH	Buy	FRP HLDGS INC COM	$4,984,000	+95.9%	89,133	+95.1%	2.46%	+83.2%
JEF	Sell	JEFFERIES FINL GROUP INC COM	$4,983,000	-2.2%	134,197	-9.9%	2.46%	-8.5%
	New	GOLAR LNG LTDconv bonds	$4,983,000	–	5,000,000	–	2.46%	–
DBX	Sell	DROPBOX INC CL A	$4,899,000	-11.0%	167,646	-7.7%	2.42%	-16.8%
FC	Buy	FRANKLIN COVEY CO COM	$4,214,000	+27.3%	103,321	+1.0%	2.08%	+19.1%
TPB	Sell	TURNING PT BRANDS INC COM	$4,126,000	-16.6%	86,403	-20.1%	2.04%	-22.0%
AYI	Sell	ACUITY BRANDS INC COM	$3,931,000	-7.3%	22,676	-0.0%	1.94%	-13.3%
CPRT	Sell	COPART INC COM	$3,924,000	+4.6%	28,289	-0.6%	1.94%	-2.2%
TWTR	Sell	TWITTER INC COM	$3,879,000	-18.1%	64,235	-6.6%	1.92%	-23.4%
ACN	Sell	ACCENTURE PLC IRELAND SHS CLASS A	$3,749,000	+8.0%	11,718	-0.5%	1.85%	+1.0%
BRKB	Sell	BERKSHIRE HATHAWAY CLASS B	$3,650,000	-1.9%	13,374	-0.1%	1.80%	-8.3%
IAA	Sell	IAA INC COM	$3,584,000	+0.0%	65,684	-0.0%	1.77%	-6.4%
DG	Sell	DOLLAR GEN CORP NEW COM	$3,319,000	-2.1%	15,643	-0.1%	1.64%	-8.4%
PCH	Buy	POTLATCHDELTIC CORPORATION COM	$3,319,000	+49.1%	64,355	+53.7%	1.64%	+39.5%
BURL	Sell	BURLINGTON STORES INC COM	$3,148,000	-36.8%	11,100	-28.2%	1.56%	-40.9%
IAC	Sell	IAC INTERACTIVECORP NEW COM	$2,995,000	-15.6%	22,984	-0.1%	1.48%	-21.0%
CBOE	Buy	CBOE GLOBAL MKTS INC COM	$2,856,000	+58.7%	23,055	+52.5%	1.41%	+48.4%
	Sell	EZCORP INCconv bonds	$2,848,000	-22.3%	2,765,000	-26.6%	1.41%	-27.3%
CEF	Sell	SPROTT PHYSICAL GOLD & SILVER TR UNIT	$2,816,000	-10.7%	164,419	-2.6%	1.39%	-16.5%
GOOGL	Sell	ALPHABET INC CAP STK CL A	$2,690,000	-13.7%	1,006	-21.2%	1.33%	-19.3%
PKE	New	PARK AEROSPACE CORP	$2,676,000	–	195,610	–	1.32%	–
FN	Sell	FABRINET SHS	$2,416,000	+6.9%	23,564	-0.1%	1.19%	0.0%
TJX	Sell	TJX COS INC NEW COM	$2,282,000	-2.3%	34,582	-0.2%	1.13%	-8.6%
MTCH	Sell	MATCH GROUP INC COM	$2,236,000	-2.7%	14,241	-0.1%	1.10%	-9.0%
IAU	Buy	ISHARES GOLD TRUST ISHARES	$2,050,000	-0.6%	61,350	+0.3%	1.01%	-7.1%
EA	Sell	ELECTRONIC ARTS INC COM	$1,911,000	-1.2%	13,437	-0.1%	0.94%	-7.6%
ANGI	Buy	ANGI HOMESERVICES INC COM CL A	$1,900,000	+5.6%	153,955	+15.7%	0.94%	-1.2%
	New	WISDOMTREE INVTS INCconv bonds	$1,735,000	–	1,500,000	–	0.86%	–
MSOS	Sell	ADVISORSHARES TR PURE US CANNABIS	$1,709,000	-46.9%	54,142	-32.7%	0.84%	-50.4%
V	Buy	VISA INC COM CL A	$1,674,000	-4.6%	7,514	+0.1%	0.83%	-10.8%
FB	Buy	FACEBOOK INC CL A	$1,426,000	-1.0%	4,201	+1.4%	0.70%	-7.4%
CVS	Sell	CVS HEALTH CORP COM	$1,317,000	+1.7%	15,517	-0.1%	0.65%	-4.8%
REG	Sell	REGENCY CTRS CORP COM	$1,190,000	-22.4%	17,669	-26.2%	0.59%	-27.4%
VMEO	Sell	VIMEO INC	$1,019,000	-56.1%	34,712	-26.7%	0.50%	-59.0%
IJR	Sell	ISHARES TR CORE S&P SCP ETF	$946,000	-5.9%	8,665	-2.6%	0.47%	-12.1%
CWH	New	CAMPING WORLD HOLDINGS INC-A	$881,000	–	22,659	–	0.44%	–
RNRG	Buy	GLOBAL X FDS RENEWABLE ENERGY	$582,000	+20.0%	37,235	+24.6%	0.29%	+12.5%
NEE	Buy	NEXTERA ENERGY INC COM	$525,000	+7.4%	6,691	+0.3%	0.26%	+0.4%
XOM	Sell	EXXON MOBIL CORP COM	$442,000	-10.0%	7,516	-3.4%	0.22%	-15.8%
QQQ	New	INVESCO QQQ TR UNIT SER 1	$441,000	–	1,232	–	0.22%	–
AAPL	Sell	APPLE INC COM	$436,000	-0.2%	3,079	-3.6%	0.22%	-6.9%
SP	Sell	SP PLUS CORP COM	$399,000	-91.4%	13,008	-91.4%	0.20%	-92.0%
MSFT	Buy	MICROSOFT CORP COM	$391,000	+9.8%	1,386	+5.5%	0.19%	+2.7%
JPM	Buy	JPMORGAN CHASE & CO COM	$284,000	+6.0%	1,738	+0.8%	0.14%	-1.4%
AMZN	Buy	AMAZON COM INC COM	$217,000	-3.1%	66	+1.5%	0.11%	-9.3%
JNJ	Exit	JOHNSON & JOHNSON COM	$0	–	-1,630	–	-0.14%	–
KLR	Exit	KALEYRA INC	$0	–	-40,000	–	-0.26%	–
AFCG	Exit	AFC GAMMA INC	$0	–	-55,026	–	-0.60%	–
	Exit	WISDOMTREE INVTS INCconv bonds	$0	–	-1,500,000	–	-0.96%	–
MSGS	Exit	MADISON SQUARE GRDN SPRT CORP CL A	$0	–	-13,470	–	-1.23%	–
	Exit	TURNING PT BRANDS INCconv bonds	$0	–	-3,000,000	–	-1.75%	–

Q2 2021

			Value		Shares		↓ Weighting
SKX	New	SKECHERS U S A INC CL A	$9,900,000	–	198,673	–	5.23%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWARE COM	$9,047,000	–	51,110	–	4.78%	–
	New	TEEKAY CORPORATIONconv bonds	$8,408,000	–	8,607,000	–	4.44%	–
WNS	New	WNS HLDGS LTD SPON ADR	$7,149,000	–	89,506	–	3.78%	–
	New	CONSOLIDATED TOMOKA LD COconv bonds	$5,973,000	–	5,614,000	–	3.16%	–
DBX	New	DROPBOX INC CL A	$5,505,000	–	181,632	–	2.91%	–
LGIH	New	LGI HOMES INC COM	$5,099,000	–	31,488	–	2.69%	–
JEF	New	JEFFERIES FINL GROUP INC COM	$5,095,000	–	148,980	–	2.69%	–
BURL	New	BURLINGTON STORES INC COM	$4,981,000	–	15,468	–	2.63%	–
TPB	New	TURNING PT BRANDS INC COM	$4,950,000	–	108,139	–	2.61%	–
TWTR	New	TWITTER INC COM	$4,734,000	–	68,793	–	2.50%	–
SP	New	SP PLUS CORP COM	$4,644,000	–	151,806	–	2.45%	–
AYI	New	ACUITY BRANDS INC COM	$4,242,000	–	22,683	–	2.24%	–
	New	LIBERTY LATIN AMERICA LTDconv bonds	$3,775,000	–	3,750,000	–	1.99%	–
CPRT	New	COPART INC COM	$3,752,000	–	28,458	–	1.98%	–
BRKB	New	BERKSHIRE HATHAWAY CLASS B	$3,722,000	–	13,392	–	1.97%	–
	New	EZCORP INCconv bonds	$3,666,000	–	3,765,000	–	1.94%	–
IAA	New	IAA INC COM	$3,583,000	–	65,699	–	1.89%	–
IAC	New	IAC INTERACTIVECORP NEW COM	$3,547,000	–	23,009	–	1.87%	–
UPS	New	UNITED PARCEL SERVICE INC CL B	$3,492,000	–	16,790	–	1.84%	–
ACN	New	ACCENTURE PLC IRELAND SHS CLASS A	$3,471,000	–	11,776	–	1.83%	–
SCHX	New	SCHWAB STRATEGIC TR US LRG CAP ETF	$3,434,000	–	33,033	–	1.81%	–
DG	New	DOLLAR GEN CORP NEW COM	$3,389,000	–	15,662	–	1.79%	–
	New	WISDOM TREE INVESTMENTS INCconv bonds	$3,332,000	–	3,500,000	–	1.76%	–
	New	TURNING PT BRANDS INCconv bonds	$3,322,000	–	3,000,000	–	1.75%	–
FC	New	FRANKLIN COVEY CO COM	$3,309,000	–	102,278	–	1.75%	–
MSOS	New	ADVISORSHARES TR PURE US CANNABIS	$3,220,000	–	80,492	–	1.70%	–
CEF	New	SPROTT PHYSICAL GOLD & SILVER TR UNIT	$3,155,000	–	168,893	–	1.67%	–
GOOGL	New	ALPHABET INC CAP STK CL A	$3,116,000	–	1,276	–	1.65%	–
FRPH	New	FRP HLDGS INC COM	$2,544,000	–	45,697	–	1.34%	–
ETSY	New	ETSY INC COM	$2,436,000	–	11,835	–	1.29%	–
	New	EZCORP INCconv bonds	$2,356,000	–	2,700,000	–	1.24%	–
TJX	New	TJX COS INC NEW COM	$2,335,000	–	34,641	–	1.23%	–
MSGS	New	MADISON SQUARE GRDN SPRT CORP CL A	$2,325,000	–	13,470	–	1.23%	–
VMEO	New	VIMEO INC	$2,322,000	–	47,380	–	1.23%	–
MTCH	New	MATCH GROUP INC COM	$2,298,000	–	14,250	–	1.21%	–
FN	New	FABRINET SHS	$2,260,000	–	23,576	–	1.19%	–
PCH	New	POTLATCHDELTIC CORPORATION COM	$2,226,000	–	41,880	–	1.18%	–
GMED	New	GLOBUS MED INC CL A	$2,210,000	–	28,509	–	1.17%	–
IAU	New	ISHARES GOLD TRUST ISHARES	$2,063,000	–	61,195	–	1.09%	–
EA	New	ELECTRONIC ARTS INC COM	$1,935,000	–	13,452	–	1.02%	–
FIVE	New	FIVE BELOW INC COM	$1,915,000	–	9,910	–	1.01%	–
	New	WISDOMTREE INVTS INCconv bonds	$1,824,000	–	1,500,000	–	0.96%	–
CBOE	New	CBOE GLOBAL MKTS INC COM	$1,800,000	–	15,116	–	0.95%	–
ANGI	New	ANGI HOMESERVICES INC COM CL A	$1,799,000	–	133,045	–	0.95%	–
SILC	New	SILICOM LTD ORD	$1,778,000	–	40,348	–	0.94%	–
V	New	VISA INC COM CL A	$1,755,000	–	7,507	–	0.93%	–
REG	New	REGENCY CTRS CORP COM	$1,533,000	–	23,934	–	0.81%	–
FB	New	FACEBOOK INC CL A	$1,440,000	–	4,141	–	0.76%	–
CVS	New	CVS HEALTH CORP COM	$1,295,000	–	15,526	–	0.68%	–
DLTR	New	DOLLAR TREE INC COM	$1,164,000	–	11,696	–	0.62%	–
AFCG	New	AFC GAMMA INC	$1,136,000	–	55,026	–	0.60%	–
MO	New	ALTRIA GROUP INC COM	$1,097,000	–	23,000	–	0.58%	–
IJR	New	ISHARES TR CORE S&P SCP ETF	$1,005,000	–	8,899	–	0.53%	–
MA	New	MASTERCARD INCORPORATED CL A	$972,000	–	2,662	–	0.51%	–
CME	New	CME GROUP INC COM	$953,000	–	4,482	–	0.50%	–
ATVI	New	ACTIVISION BLIZZARD INC COM	$880,000	–	9,219	–	0.46%	–
DFH	New	DREAM FINDERS HOMES INC COM CL A	$855,000	–	35,000	–	0.45%	–
XOM	New	EXXON MOBIL CORP COM	$491,000	–	7,779	–	0.26%	–
KLR	New	KALEYRA INC	$490,000	–	40,000	–	0.26%	–
NEE	New	NEXTERA ENERGY INC COM	$489,000	–	6,668	–	0.26%	–
RNRG	New	GLOBAL X FDS RENEWABLE ENERGY	$485,000	–	29,885	–	0.26%	–
AAPL	New	APPLE INC COM	$437,000	–	3,193	–	0.23%	–
MSFT	New	MICROSOFT CORP COM	$356,000	–	1,314	–	0.19%	–
GLD	New	SPDR GOLD TR GOLD SHS	$273,000	–	1,650	–	0.14%	–
JNJ	New	JOHNSON & JOHNSON COM	$269,000	–	1,630	–	0.14%	–
JPM	New	JPMORGAN CHASE & CO COM	$268,000	–	1,725	–	0.14%	–
AMZN	New	AMAZON COM INC COM	$224,000	–	65	–	0.12%	–
JOB	New	GEE GROUP INC COM	$41,000	–	71,429	–	0.02%	–

Q4 2020

			Value		Shares		↓ Weighting
MSFT	Exit	MICROSOFT CORP COMcs	$0	–	-977	–	-0.12%	–
AMZN	Exit	AMAZON COM INC COMcs	$0	–	-70	–	-0.13%	–
MSGE	Exit	MADISON SQUARE GRDN ENTERTNMNTcs	$0	–	-3,251	–	-0.13%	–
NATH	Exit	NATHANS FAMOUS INC NEW COMcs	$0	–	-4,518	–	-0.14%	–
GLD	Exit	SPDR GOLD TR GOLD SHScs	$0	–	-1,450	–	-0.15%	–
BK	Exit	BANK NEW YORK MELLON CORP COMcs	$0	–	-7,959	–	-0.16%	–
CME	Exit	CME GROUP INC COMcs	$0	–	-2,061	–	-0.20%	–
SPSB	Exit	SPDR SER TR PORTFOLIO SHORTcs	$0	–	-13,060	–	-0.24%	–
BCEI	Exit	BONANZA CREEK ENERGY INC COM Ncs	$0	–	-21,875	–	-0.24%	–
JBL	Exit	JABIL INC COMcs	$0	–	-12,221	–	-0.24%	–
VST	Exit	VISTRA CORP COMcs	$0	–	-24,064	–	-0.26%	–
IGSB	Exit	ISHARES TR ISHS 1-5YR INVScs	$0	–	-8,636	–	-0.28%	–
ATVI	Exit	ACTIVISION BLIZZARD INC COMcs	$0	–	-5,884	–	-0.28%	–
ROKU	Exit	ROKU INC COM CL Acs	$0	–	-2,622	–	-0.29%	–
AAPL	Exit	APPLE INC COMcs	$0	–	-4,379	–	-0.30%	–
	Exit	EZCORP INCcv	$0	–	-700,000	–	-0.31%	–
TRU	Exit	TRANSUNION COMcs	$0	–	-6,547	–	-0.32%	–
ANGI	Exit	ANGI HOMESERVICES INC COM CL Acs	$0	–	-53,773	–	-0.35%	–
CERN	Exit	CERNER CORP COMcs	$0	–	-8,398	–	-0.35%	–
KR	Exit	KROGER CO COMcs	$0	–	-18,029	–	-0.36%	–
BKNG	Exit	BOOKING HOLDINGS INC COMcs	$0	–	-389	–	-0.39%	–
SLQD	Exit	ISHARES TR 0-5YR INVT GR CPcs	$0	–	-13,344	–	-0.40%	–
NEAR	Exit	ISHARES U S ETF TR SHT MAT BDcs	$0	–	-14,165	–	-0.41%	–
UTZ	Exit	UTZ BRANDS INC COM CL Acs	$0	–	-39,825	–	-0.42%	–
IGV	Exit	ISHARES TR EXPANDED TECHcs	$0	–	-2,559	–	-0.46%	–
WCN	Exit	WASTE CONNECTIONS INC COMcs	$0	–	-7,800	–	-0.47%	–
COLD	Exit	AMERICOLD RLTY TR COMcs	$0	–	-22,899	–	-0.48%	–
OLLI	Exit	OLLIES BARGAIN OUTLT HLDGS INCcs	$0	–	-9,919	–	-0.50%	–
BIO	Exit	BIO RAD LABS INC CL Acs	$0	–	-1,687	–	-0.51%	–
LH	Exit	LABORATORY CORP AMER HLDGS COMcs	$0	–	-4,801	–	-0.53%	–
AJG	Exit	GALLAGHER ARTHUR J & CO COMcs	$0	–	-8,624	–	-0.53%	–
CRL	Exit	CHARLES RIV LABS INTL INC COMcs	$0	–	-4,146	–	-0.55%	–
DLTR	Exit	DOLLAR TREE INC COMcs	$0	–	-10,729	–	-0.57%	–
REG	Exit	REGENCY CTRS CORP COMcs	$0	–	-27,134	–	-0.60%	–
PINE	Exit	ALPINE INCOME PPTY TR INC COMcs	$0	–	-66,659	–	-0.60%	–
FND	Exit	FLOOR & DECOR HLDGS INC CL Acs	$0	–	-15,846	–	-0.69%	–
SYKE	Exit	SYKES ENTERPRISES INC COMcs	$0	–	-38,919	–	-0.77%	–
BATRK	Exit	LIBERTY MEDIA CORP DELAWARE COcs	$0	–	-64,571	–	-0.79%	–
GMED	Exit	GLOBUS MED INC CL Acs	$0	–	-28,509	–	-0.82%	–
LGIH	Exit	LGI HOMES INC COMcs	$0	–	-12,948	–	-0.88%	–
MANU	Exit	MANCHESTER UTD PLC NEW ORD CLcs	$0	–	-106,031	–	-0.90%	–
CVS	Exit	CVS HEALTH CORP COMcs	$0	–	-26,791	–	-0.91%	–
FB	Exit	FACEBOOK INC CL Acs	$0	–	-6,105	–	-0.93%	–
CTO	Exit	CTO REALTY GROWTH INC COMcs	$0	–	-38,984	–	-1.00%	–
ETSY	Exit	ETSY INC COMcs	$0	–	-14,255	–	-1.01%	–
FIVE	Exit	FIVE BELOW INC COMcs	$0	–	-14,612	–	-1.08%	–
ABC	Exit	AMERISOURCEBERGEN CORP COMcs	$0	–	-19,261	–	-1.09%	–
	Exit	TUTOR PERINI CORPcv	$0	–	-1,935,000	–	-1.12%	–
	Exit	GOPRO INCcv	$0	–	-2,000,000	–	-1.12%	–
FRPH	Exit	FRP HLDGS INC COMcs	$0	–	-47,779	–	-1.16%	–
TJX	Exit	TJX COS INC NEW COMcs	$0	–	-36,356	–	-1.18%	–
MTCH	Exit	MATCH GROUP INC COMcs	$0	–	-18,342	–	-1.18%	–
SP	Exit	SP PLUS CORP COMcs	$0	–	-113,527	–	-1.19%	–
ACN	Exit	ACCENTURE PLC IRELAND SHS CLAScs	$0	–	-9,191	–	-1.21%	–
DOX	Exit	AMDOCS LTD SHScs	$0	–	-39,006	–	-1.30%	–
SILC	Exit	SILICOM LTD ORDcs	$0	–	-69,686	–	-1.31%	–
IAU	Exit	ISHARES GOLD TRUST ISHAREScs	$0	–	-126,811	–	-1.33%	–
CEF	Exit	SPROTT PHYSICAL GOLD & SILVERcs	$0	–	-131,458	–	-1.40%	–
V	Exit	VISA INC COM CL Acs	$0	–	-12,349	–	-1.44%	–
TWTR	Exit	TWITTER INC COMcs	$0	–	-55,654	–	-1.44%	–
EA	Exit	ELECTRONIC ARTS INC COMcs	$0	–	-19,018	–	-1.44%	–
AYI	Exit	ACUITY BRANDS INC COMcs	$0	–	-24,325	–	-1.45%	–
MA	Exit	MASTERCARD INCORPORATED CL Acs	$0	–	-8,012	–	-1.58%	–
ICLR	Exit	ICON PLC SHScs	$0	–	-14,762	–	-1.64%	–
GOOGL	Exit	ALPHABET INC CAP STK CL Acs	$0	–	-1,960	–	-1.67%	–
BURL	Exit	BURLINGTON STORES INC COMcs	$0	–	-13,943	–	-1.67%	–
BRKB	Exit	BERKSHIRE HATHAWAY CLASS Bcs	$0	–	-14,317	–	-1.77%	–
IAC	Exit	IAC INTERACTIVECORP NEW COMcs	$0	–	-25,454	–	-1.77%	–
FN	Exit	FABRINET SHScs	$0	–	-49,567	–	-1.82%	–
JEF	Exit	JEFFERIES FINL GROUP INC COMcs	$0	–	-178,021	–	-1.86%	–
SCHX	Exit	SCHWAB STRATEGIC TR US LRG CAPcs	$0	–	-39,939	–	-1.87%	–
PCH	Exit	POTLATCHDELTIC CORPORATION COMcs	$0	–	-82,740	–	-2.03%	–
MSGS	Exit	MADISON SQUARE GRDN SPRT CORPcs	$0	–	-25,023	–	-2.19%	–
DG	Exit	DOLLAR GEN CORP NEW COMcs	$0	–	-18,271	–	-2.23%	–
	Exit	LIBERTY LATIN AMERICA LTDcv	$0	–	-4,750,000	–	-2.26%	–
CPRT	Exit	COPART INC COMcs	$0	–	-38,555	–	-2.36%	–
IAA	Exit	IAA INC COMcs	$0	–	-91,718	–	-2.78%	–
	Exit	WISDOMTREE INVTS INCcv	$0	–	-5,000,000	–	-2.78%	–
	Exit	TURNING PT BRANDS INCcv	$0	–	-5,750,000	–	-2.95%	–
	Exit	EZCORP INCcv	$0	–	-5,825,000	–	-2.99%	–
WNS	Exit	WNS HLDGS LTD SPON ADRcs	$0	–	-87,619	–	-3.26%	–
	Exit	TEEKAY CORPORATIONcv	$0	–	-7,107,000	–	-3.35%	–
	Exit	CONSOLIDATED TOMOKA LD COcv	$0	–	-7,625,000	–	-4.05%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWAREcs	$0	–	-44,478	–	-4.28%	–
SKX	Exit	SKECHERS U S A INC CL Acs	$0	–	-253,195	–	-4.45%	–

Q3 2020

			Value		Shares		↓ Weighting
SKX	Sell	SKECHERS U S A INC CL Acs	$7,652,000	-10.0%	253,195	-6.6%	4.45%	-7.5%
TTWO	Sell	TAKE-TWO INTERACTIVE SOFTWAREcs	$7,349,000	-12.9%	44,478	-26.4%	4.28%	-10.4%
	Buy	CONSOLIDATED TOMOKA LD COcv	$6,960,000	+64.9%	7,625,000	+48.8%	4.05%	+69.7%
	Buy	TEEKAY CORPORATIONcv	$5,753,000	+18.7%	7,107,000	+20.3%	3.35%	+22.2%
WNS	Sell	WNS HLDGS LTD SPON ADRcs	$5,604,000	-4.1%	87,619	-17.6%	3.26%	-1.4%
	Sell	EZCORP INCcv	$5,139,000	-13.8%	5,825,000	-7.9%	2.99%	-11.4%
	New	TURNING PT BRANDS INCcv	$5,074,000	–	5,750,000	–	2.95%	–
IAA	Sell	IAA INC COMcs	$4,776,000	+12.6%	91,718	-16.6%	2.78%	+15.9%
CPRT	Sell	COPART INC COMcs	$4,054,000	-3.8%	38,555	-23.8%	2.36%	-1.0%
	New	LIBERTY LATIN AMERICA LTDcv	$3,884,000	–	4,750,000	–	2.26%	–
DG	Sell	DOLLAR GEN CORP NEW COMcs	$3,830,000	-3.1%	18,271	-12.0%	2.23%	-0.4%
MSGS	Sell	MADISON SQUARE GRDN SPRT CORPcs	$3,765,000	-1.6%	25,023	-3.9%	2.19%	+1.2%
PCH	Sell	POTLATCHDELTIC CORPORATION COMcs	$3,483,000	-18.2%	82,740	-26.1%	2.03%	-15.9%
SCHX	Buy	SCHWAB STRATEGIC TR US LRG CAPcs	$3,220,000	+43.8%	39,939	+32.1%	1.87%	+47.9%
JEF	Sell	JEFFERIES FINL GROUP INC COMcs	$3,204,000	-3.1%	178,021	-16.3%	1.86%	-0.3%
FN	Buy	FABRINET SHScs	$3,124,000	+48.4%	49,567	+47.0%	1.82%	+52.6%
BRKB	Sell	BERKSHIRE HATHAWAY CLASS Bcs	$3,049,000	-4.3%	14,317	-19.7%	1.77%	-1.6%
IAC	New	IAC INTERACTIVECORP NEW COMcs	$3,049,000	–	25,454	–	1.77%	–
GOOGL	Sell	ALPHABET INC CAP STK CL Acs	$2,873,000	-23.1%	1,960	-25.6%	1.67%	-20.8%
BURL	Buy	BURLINGTON STORES INC COMcs	$2,874,000	+61.4%	13,943	+54.2%	1.67%	+66.0%
ICLR	Buy	ICON PLC SHScs	$2,821,000	+14.1%	14,762	+0.6%	1.64%	+17.3%
MA	Sell	MASTERCARD INCORPORATED CL Acs	$2,709,000	-5.4%	8,012	-17.3%	1.58%	-2.7%
AYI	Sell	ACUITY BRANDS INC COMcs	$2,490,000	+0.9%	24,325	-5.7%	1.45%	+3.7%
EA	Sell	ELECTRONIC ARTS INC COMcs	$2,480,000	-27.6%	19,018	-26.7%	1.44%	-25.5%
TWTR	New	TWITTER INC COMcs	$2,477,000	–	55,654	–	1.44%	–
V	Sell	VISA INC COM CL Acs	$2,469,000	-10.0%	12,349	-13.0%	1.44%	-7.4%
CEF	Buy	SPROTT PHYSICAL GOLD & SILVERcs	$2,411,000	+92.6%	131,458	+77.5%	1.40%	+98.2%
IAU	Sell	ISHARES GOLD TRUST ISHAREScs	$2,281,000	-23.4%	126,811	-27.6%	1.33%	-21.2%
SILC	Sell	SILICOM LTD ORDcs	$2,257,000	-16.7%	69,686	-5.7%	1.31%	-14.4%
DOX	Sell	AMDOCS LTD SHScs	$2,239,000	-10.5%	39,006	-5.0%	1.30%	-7.9%
ACN	Sell	ACCENTURE PLC IRELAND SHS CLAScs	$2,077,000	-14.0%	9,191	-18.3%	1.21%	-11.4%
SP	Sell	SP PLUS CORP COMcs	$2,038,000	-46.5%	113,527	-38.2%	1.19%	-44.9%
MTCH	New	MATCH GROUP INC COMcs	$2,030,000	–	18,342	–	1.18%	–
TJX	Sell	TJX COS INC NEW COMcs	$2,023,000	-20.9%	36,356	-28.1%	1.18%	-18.6%
FRPH	Sell	FRP HLDGS INC COMcs	$1,991,000	-10.0%	47,779	-12.3%	1.16%	-7.4%
	Sell	TUTOR PERINI CORPcv	$1,919,000	-62.9%	1,935,000	-64.8%	1.12%	-61.8%
ABC	Sell	AMERISOURCEBERGEN CORP COMcs	$1,867,000	-22.6%	19,261	-19.5%	1.09%	-20.4%
FIVE	Buy	FIVE BELOW INC COMcs	$1,856,000	+79.8%	14,612	+51.4%	1.08%	+84.9%
ETSY	Sell	ETSY INC COMcs	$1,734,000	+11.1%	14,255	-3.0%	1.01%	+14.3%
CTO	Sell	CTO REALTY GROWTH INC COMcs	$1,719,000	-2.9%	38,984	-13.0%	1.00%	-0.1%
FB	Sell	FACEBOOK INC CL Acs	$1,599,000	+9.3%	6,105	-5.2%	0.93%	+12.3%
CVS	Sell	CVS HEALTH CORP COMcs	$1,565,000	-29.3%	26,791	-21.4%	0.91%	-27.2%
MANU	Sell	MANCHESTER UTD PLC NEW ORD CLcs	$1,542,000	-9.9%	106,031	-1.9%	0.90%	-7.3%
LGIH	New	LGI HOMES INC COMcs	$1,504,000	–	12,948	–	0.88%	–
GMED	Sell	GLOBUS MED INC CL Acs	$1,412,000	-40.8%	28,509	-43.0%	0.82%	-39.1%
BATRK	Sell	LIBERTY MEDIA CORP DELAWARE COcs	$1,357,000	+5.6%	64,571	-0.8%	0.79%	+8.7%
SYKE	Sell	SYKES ENTERPRISES INC COMcs	$1,331,000	+7.4%	38,919	-13.1%	0.77%	+10.4%
FND	Sell	FLOOR & DECOR HLDGS INC CL Acs	$1,185,000	-2.5%	15,846	-24.8%	0.69%	+0.3%
PINE	Sell	ALPINE INCOME PPTY TR INC COMcs	$1,037,000	-36.7%	66,659	-33.9%	0.60%	-35.0%
REG	Sell	REGENCY CTRS CORP COMcs	$1,032,000	-25.5%	27,134	-10.1%	0.60%	-23.4%
DLTR	Sell	DOLLAR TREE INC COMcs	$980,000	-6.4%	10,729	-5.1%	0.57%	-3.7%
CRL	Sell	CHARLES RIV LABS INTL INC COMcs	$939,000	-11.5%	4,146	-31.9%	0.55%	-9.0%
AJG	Sell	GALLAGHER ARTHUR J & CO COMcs	$911,000	-18.1%	8,624	-24.4%	0.53%	-15.7%
LH	Sell	LABORATORY CORP AMER HLDGS COMcs	$904,000	+2.1%	4,801	-9.9%	0.53%	+5.0%
BIO	Sell	BIO RAD LABS INC CL Acs	$870,000	+8.9%	1,687	-4.7%	0.51%	+11.9%
OLLI	Sell	OLLIES BARGAIN OUTLT HLDGS INCcs	$866,000	-53.3%	9,919	-47.8%	0.50%	-52.0%
COLD	Sell	AMERICOLD RLTY TR COMcs	$819,000	-11.2%	22,899	-9.8%	0.48%	-8.6%
WCN	Sell	WASTE CONNECTIONS INC COMcs	$810,000	+5.6%	7,800	-4.7%	0.47%	+8.5%
IGV	Sell	ISHARES TR EXPANDED TECHcs	$796,000	-7.5%	2,559	-15.5%	0.46%	-4.9%
UTZ	New	UTZ BRANDS INC COM CL Acs	$713,000	–	39,825	–	0.42%	–
NEAR	New	ISHARES U S ETF TR SHT MAT BDcs	$710,000	–	14,165	–	0.41%	–
SLQD	Buy	ISHARES TR 0-5YR INVT GR CPcs	$695,000	+136.4%	13,344	+136.7%	0.40%	+143.4%
BKNG	Sell	BOOKING HOLDINGS INC COMcs	$665,000	-42.7%	389	-46.6%	0.39%	-41.1%
KR	Sell	KROGER CO COMcs	$611,000	-11.8%	18,029	-11.9%	0.36%	-9.2%
CERN	Sell	CERNER CORP COMcs	$607,000	-1.0%	8,398	-6.1%	0.35%	+1.7%
ANGI	Sell	ANGI HOMESERVICES INC COM CL Acs	$597,000	-38.1%	53,773	-32.2%	0.35%	-36.3%
TRU	Sell	TRANSUNION COMcs	$551,000	-7.9%	6,547	-4.6%	0.32%	-5.0%
	New	EZCORP INCcv	$539,000	–	700,000	–	0.31%	–
AAPL	Buy	APPLE INC COMcs	$507,000	+106.9%	4,379	+552.6%	0.30%	+112.2%
ROKU	Buy	ROKU INC COM CL Acs	$495,000	+116.2%	2,622	+33.4%	0.29%	+121.5%
ATVI	Sell	ACTIVISION BLIZZARD INC COMcs	$476,000	-22.2%	5,884	-27.1%	0.28%	-19.9%
IGSB	Buy	ISHARES TR ISHS 1-5YR INVScs	$474,000	+87.4%	8,636	+87.0%	0.28%	+93.0%
VST	Sell	VISTRA CORP COMcs	$454,000	-3.4%	24,064	-4.7%	0.26%	-0.8%
JBL	Sell	JABIL INC COMcs	$419,000	+1.9%	12,221	-4.6%	0.24%	+5.2%
BCEI	Sell	BONANZA CREEK ENERGY INC COM Ncs	$411,000	+24.9%	21,875	-1.4%	0.24%	+28.5%
SPSB	Buy	SPDR SER TR PORTFOLIO SHORTcs	$410,000	+39.9%	13,060	+39.5%	0.24%	+44.0%
CME	Sell	CME GROUP INC COMcs	$345,000	-3.4%	2,061	-6.1%	0.20%	-0.5%
BK	Sell	BANK NEW YORK MELLON CORP COMcs	$273,000	-33.3%	7,959	-24.7%	0.16%	-31.2%
MSGE	Sell	MADISON SQUARE GRDN ENTERTNMNTcs	$223,000	-12.9%	3,251	-4.7%	0.13%	-10.3%
AMZN	New	AMAZON COM INC COMcs	$220,000	–	70	–	0.13%	–
MSFT	New	MICROSOFT CORP COMcs	$205,000	–	977	–	0.12%	–
HBI	Exit	HANESBRANDS INC COMcs	$0	–	-19,171	–	-0.12%	–
WDC	Exit	WESTERN DIGITAL CORP. COMcs	$0	–	-8,231	–	-0.20%	–
CAKE	Exit	CHEESECAKE FACTORY INC COMcs	$0	–	-16,068	–	-0.21%	–
CUB	Exit	CUBIC CORP COMcs	$0	–	-18,334	–	-0.50%	–
DISCK	Exit	DISCOVERY INC COM SER Ccs	$0	–	-67,770	–	-0.74%	–
TPC	Exit	TUTOR PERINI CORP COMput	$0	–	-360,000	–	-2.48%	–
	Exit	CTRIP COM INTL LTDcv	$0	–	-4,424,000	–	-2.49%	–
IAC	Exit	IAC INTERACTIVECORP COMcs	$0	–	-14,317	–	-2.62%	–

Q2 2020

			Value		Shares		↓ Weighting
SKX	New	SKECHERS U S A INC CL Acs	$8,506,000	–	271,059	–	4.81%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWAREcs	$8,439,000	–	60,463	–	4.77%	–
	New	EZCORP INCcv	$5,963,000	–	6,325,000	–	3.37%	–
WNS	New	WNS HLDGS LTD SPON ADRcs	$5,844,000	–	106,290	–	3.31%	–
	New	TUTOR PERINI CORPcv	$5,175,000	–	5,493,000	–	2.93%	–
	New	TEEKAY CORPORATIONcv	$4,845,000	–	5,908,000	–	2.74%	–
	New	WISDOMTREE INVTS INCcv	$4,755,000	–	5,000,000	–	2.69%	–
IAC	New	IAC INTERACTIVECORP COMcs	$4,630,000	–	14,317	–	2.62%	–
	New	CTRIP COM INTL LTDcv	$4,407,000	–	4,424,000	–	2.49%	–
TPC	New	TUTOR PERINI CORP COMput	$4,385,000	–	360,000	–	2.48%	–
PCH	New	POTLATCHDELTIC CORPORATION COMcs	$4,260,000	–	112,010	–	2.41%	–
IAA	New	IAA INC COMcs	$4,240,000	–	109,930	–	2.40%	–
	New	CONSOLIDATED TOMOKA LD COcv	$4,220,000	–	5,125,000	–	2.39%	–
CPRT	New	COPART INC COMcs	$4,215,000	–	50,623	–	2.38%	–
DG	New	DOLLAR GEN CORP NEW COMcs	$3,954,000	–	20,757	–	2.24%	–
MSGS	New	MADISON SQUARE GRDN SPRT CORPcs	$3,826,000	–	26,048	–	2.16%	–
SP	New	SP PLUS CORP COMcs	$3,807,000	–	183,801	–	2.15%	–
GOOGL	New	ALPHABET INC CAP STK CL Acs	$3,734,000	–	2,633	–	2.11%	–
EA	New	ELECTRONIC ARTS INC COMcs	$3,424,000	–	25,932	–	1.94%	–
JEF	New	JEFFERIES FINL GROUP INC COMcs	$3,306,000	–	212,614	–	1.87%	–
BRKB	New	BERKSHIRE HATHAWAY CLASS Bcs	$3,185,000	–	17,840	–	1.80%	–
IAU	New	ISHARES GOLD TRUST ISHAREScs	$2,976,000	–	175,142	–	1.68%	–
MA	New	MASTERCARD INCORPORATED CL Acs	$2,864,000	–	9,685	–	1.62%	–
V	New	VISA INC COM CL Acs	$2,743,000	–	14,202	–	1.55%	–
SILC	New	SILICOM LTD ORDcs	$2,711,000	–	73,866	–	1.53%	–
TJX	New	TJX COS INC NEW COMcs	$2,557,000	–	50,571	–	1.45%	–
DOX	New	AMDOCS LTD SHScs	$2,501,000	–	41,077	–	1.42%	–
ICLR	New	ICON PLC SHScs	$2,473,000	–	14,680	–	1.40%	–
AYI	New	ACUITY BRANDS INC COMcs	$2,469,000	–	25,789	–	1.40%	–
ACN	New	ACCENTURE PLC IRELAND SHS CLAScs	$2,414,000	–	11,244	–	1.36%	–
ABC	New	AMERISOURCEBERGEN CORP COMcs	$2,411,000	–	23,925	–	1.36%	–
GMED	New	GLOBUS MED INC CL Acs	$2,385,000	–	50,000	–	1.35%	–
SCHX	New	SCHWAB STRATEGIC TR US LRG CAPcs	$2,240,000	–	30,233	–	1.27%	–
CVS	New	CVS HEALTH CORP COMcs	$2,214,000	–	34,074	–	1.25%	–
FRPH	New	FRP HLDGS INC COMcs	$2,211,000	–	54,483	–	1.25%	–
FN	New	FABRINET SHScs	$2,105,000	–	33,716	–	1.19%	–
	New	GOPRO INCcv	$1,944,000	–	2,000,000	–	1.10%	–
OLLI	New	OLLIES BARGAIN OUTLT HLDGS INCcs	$1,854,000	–	18,986	–	1.05%	–
BURL	New	BURLINGTON STORES INC COMcs	$1,781,000	–	9,045	–	1.01%	–
CTO	New	CTO REALTY GROWTH INC COMcs	$1,770,000	–	44,819	–	1.00%	–
MANU	New	MANCHESTER UTD PLC NEW ORD CLcs	$1,711,000	–	108,075	–	0.97%	–
PINE	New	ALPINE INCOME PPTY TR INC COMcs	$1,639,000	–	100,830	–	0.93%	–
ETSY	New	ETSY INC COMcs	$1,561,000	–	14,696	–	0.88%	–
FB	New	FACEBOOK INC CL Acs	$1,463,000	–	6,441	–	0.83%	–
REG	New	REGENCY CTRS CORP COMcs	$1,385,000	–	30,184	–	0.78%	–
DISCK	New	DISCOVERY INC COM SER Ccs	$1,305,000	–	67,770	–	0.74%	–
BATRK	New	LIBERTY MEDIA CORP DELAWARE COcs	$1,285,000	–	65,091	–	0.73%	–
CEF	New	SPROTT PHYSICAL GOLD & SILVERcs	$1,252,000	–	74,081	–	0.71%	–
SYKE	New	SYKES ENTERPRISES INC COMcs	$1,239,000	–	44,786	–	0.70%	–
FND	New	FLOOR & DECOR HLDGS INC CL Acs	$1,215,000	–	21,069	–	0.69%	–
BKNG	New	BOOKING HOLDINGS INC COMcs	$1,161,000	–	729	–	0.66%	–
AJG	New	GALLAGHER ARTHUR J & CO COMcs	$1,112,000	–	11,407	–	0.63%	–
CRL	New	CHARLES RIV LABS INTL INC COMcs	$1,061,000	–	6,086	–	0.60%	–
DLTR	New	DOLLAR TREE INC COMcs	$1,047,000	–	11,302	–	0.59%	–
FIVE	New	FIVE BELOW INC COMcs	$1,032,000	–	9,653	–	0.58%	–
ANGI	New	ANGI HOMESERVICES INC COM CL Acs	$964,000	–	79,325	–	0.54%	–
COLD	New	AMERICOLD RLTY TR COMcs	$922,000	–	25,390	–	0.52%	–
LH	New	LABORATORY CORP AMER HLDGS COMcs	$885,000	–	5,330	–	0.50%	–
CUB	New	CUBIC CORP COMcs	$881,000	–	18,334	–	0.50%	–
IGV	New	ISHARES TR EXPANDED TECHcs	$861,000	–	3,029	–	0.49%	–
BIO	New	BIO RAD LABS INC CL Acs	$799,000	–	1,770	–	0.45%	–
WCN	New	WASTE CONNECTIONS INC COMcs	$767,000	–	8,181	–	0.43%	–
KR	New	KROGER CO COMcs	$693,000	–	20,468	–	0.39%	–
CERN	New	CERNER CORP COMcs	$613,000	–	8,948	–	0.35%	–
ATVI	New	ACTIVISION BLIZZARD INC COMcs	$612,000	–	8,068	–	0.35%	–
TRU	New	TRANSUNION COMcs	$598,000	–	6,866	–	0.34%	–
VST	New	VISTRA CORP COMcs	$470,000	–	25,240	–	0.27%	–
JBL	New	JABIL INC COMcs	$411,000	–	12,815	–	0.23%	–
BK	New	BANK NEW YORK MELLON CORP COMcs	$409,000	–	10,571	–	0.23%	–
CAKE	New	CHEESECAKE FACTORY INC COMcs	$368,000	–	16,068	–	0.21%	–
WDC	New	WESTERN DIGITAL CORP. COMcs	$363,000	–	8,231	–	0.20%	–
CME	New	CME GROUP INC COMcs	$357,000	–	2,196	–	0.20%	–
BCEI	New	BONANZA CREEK ENERGY INC COM Ncs	$329,000	–	22,175	–	0.19%	–
SPSB	New	SPDR SER TR PORTFOLIO SHORTcs	$293,000	–	9,365	–	0.17%	–
SLQD	New	ISHARES TR 0-5YR INVT GR CPcs	$294,000	–	5,637	–	0.17%	–
MSGE	New	MADISON SQUARE GRDN ENTERTNMNTcs	$256,000	–	3,412	–	0.14%	–
NATH	New	NATHANS FAMOUS INC NEW COMcs	$254,000	–	4,518	–	0.14%	–
IGSB	New	ISHARES TR SH TR CRPORT ETFcs	$253,000	–	4,619	–	0.14%	–
AAPL	New	APPLE INC COMcs	$245,000	–	671	–	0.14%	–
GLD	New	SPDR GOLD TR GOLD SHScs	$243,000	–	1,450	–	0.14%	–
ROKU	New	ROKU INC COM CL Acs	$229,000	–	1,965	–	0.13%	–
HBI	New	HANESBRANDS INC COMcs	$216,000	–	19,171	–	0.12%	–

Q4 2019

			Value		Shares		↓ Weighting
OXSQ	Exit	OXFORD SQUARE CAP CORP COMcs	$0	–	-22,000	–	-0.07%	–
ARCC	Exit	ARES CAP CORP COMcs	$0	–	-11,800	–	-0.12%	–
ACWI	Exit	ISHARES TR MSCI ACWI ETFcs	$0	–	-3,609	–	-0.14%	–
CEF	Exit	SPROTT PHYSICAL GOLD & SILVERcs	$0	–	-21,260	–	-0.16%	–
	Exit	CALAMP CORPcv	$0	–	-388,000	–	-0.20%	–
BATRK	Exit	LIBERTY MEDIA CORP DELAWARE COcs	$0	–	-15,255	–	-0.22%	–
	Exit	CTRIP COM INTL LTDcv	$0	–	-500,000	–	-0.26%	–
ATVI	Exit	ACTIVISION BLIZZARD INC COMcs	$0	–	-9,645	–	-0.27%	–
AGI	Exit	ALAMOS GOLD INC NEW COM CL Acs	$0	–	-109,815	–	-0.33%	–
CERN	Exit	CERNER CORP COMcs	$0	–	-11,800	–	-0.42%	–
UEPS	Exit	NET 1 UEPS TECHNOLOGIES INC COcs	$0	–	-298,273	–	-0.56%	–
HTH	Exit	HILLTOP HOLDINGS INC COMcs	$0	–	-44,835	–	-0.56%	–
EA	Exit	ELECTRONIC ARTS INC COMcs	$0	–	-12,678	–	-0.65%	–
TAP	Exit	MOLSON COORS BREWING CO CL Bcs	$0	–	-24,016	–	-0.72%	–
KR	Exit	KROGER CO COMcs	$0	–	-55,850	–	-0.75%	–
CAKE	Exit	CHEESECAKE FACTORY INC COMcs	$0	–	-35,753	–	-0.78%	–
MANU	Exit	MANCHESTER UTD PLC NEW ORD CLcs	$0	–	-97,338	–	-0.84%	–
BIO	Exit	BIO RAD LABS INC CL Acs	$0	–	-4,861	–	-0.84%	–
	Exit	VITAMIN SHOPPE INCcv	$0	–	-1,661,000	–	-0.86%	–
LH	Exit	LABORATORY CORP AMER HLDGS COMcs	$0	–	-10,825	–	-0.95%	–
CUB	Exit	CUBIC CORP COMcs	$0	–	-27,888	–	-1.03%	–
	Exit	CONSOLIDATED TOMOKA LD COcv	$0	–	-2,125,000	–	-1.15%	–
DG	Exit	DOLLAR GEN CORP NEW COMcs	$0	–	-14,054	–	-1.17%	–
CRDA	Exit	CRAWFORD & COMPANY - CL Acs	$0	–	-222,717	–	-1.27%	–
DOX	Exit	AMDOCS LTD SHScs	$0	–	-38,426	–	-1.33%	–
BCEI	Exit	BONANZA CREEK ENERGY INC COM Ncs	$0	–	-114,367	–	-1.34%	–
IAU	Exit	ISHARES GOLD TRUST ISHAREScs	$0	–	-183,865	–	-1.36%	–
	Exit	ECHO GLOBAL LOGISTICS INCcv	$0	–	-2,979,000	–	-1.55%	–
CSCO	Exit	CISCO SYS INC COMcs	$0	–	-63,930	–	-1.65%	–
CRDB	Exit	CRAWFORD & CO CL Bcs	$0	–	-330,032	–	-1.74%	–
SILC	Exit	SILICOM LTD ORDcs	$0	–	-111,691	–	-1.84%	–
ABC	Exit	AMERISOURCEBERGEN CORP COMcs	$0	–	-47,344	–	-2.04%	–
SIC	Exit	SELECT INTERIOR CONCEPTS INC Ccs	$0	–	-310,699	–	-2.11%	–
GTX	Exit	GARRETT MOTION INC COMcs	$0	–	-420,565	–	-2.19%	–
BK	Exit	BANK NEW YORK MELLON CORP COMcs	$0	–	-93,128	–	-2.20%	–
DISCK	Exit	DISCOVERY INC COM SER Ccs	$0	–	-180,511	–	-2.32%	–
COG	Exit	CABOT OIL & GAS CORP COMcs	$0	–	-270,815	–	-2.49%	–
DLTR	Exit	DOLLAR TREE INC COMcs	$0	–	-42,579	–	-2.54%	–
FRPH	Exit	FRP HLDGS INC COMcs	$0	–	-103,960	–	-2.61%	–
IAA	Exit	IAA INC COMcs	$0	–	-132,455	–	-2.89%	–
TDC	Exit	TERADATA CORP DEL COMcs	$0	–	-178,864	–	-2.90%	–
PCH	Exit	POTLATCHDELTIC CORPORATION COMcs	$0	–	-136,524	–	-2.93%	–
CTO	Exit	CONSOLIDATED TOMOKA LD CO COMcs	$0	–	-94,280	–	-3.23%	–
MSGS	Exit	MADISON SQUARE GARDEN CO NEW Ccs	$0	–	-23,690	–	-3.26%	–
WYND	Exit	WYNDHAM DESTINATIONS INC COMcs	$0	–	-137,495	–	-3.31%	–
SYKE	Exit	SYKES ENTERPRISES INC COMcs	$0	–	-222,312	–	-3.56%	–
VST	Exit	VISTRA ENERGY CORP COMcs	$0	–	-262,940	–	-3.67%	–
SP	Exit	SP PLUS CORP COMcs	$0	–	-191,863	–	-3.71%	–
JEF	Exit	JEFFERIES FINL GROUP INC COMcs	$0	–	-396,735	–	-3.82%	–
HBI	Exit	HANESBRANDS INC COMcs	$0	–	-490,470	–	-3.93%	–
BRKB	Exit	BERKSHIRE HATHAWAY CLASS Bcs	$0	–	-41,054	–	-4.46%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWAREcs	$0	–	-73,316	–	-4.80%	–
PTVCB	Exit	PROTECTIVE INS CORP CL Bcs	$0	–	-532,186	–	-4.85%	–
SKX	Exit	SKECHERS U S A INC CL Acs	$0	–	-260,095	–	-5.08%	–

Q3 2019

			Value		Shares		↓ Weighting
SKX	Sell	SKECHERS U S A INC CL Acs	$9,715,000	+2.2%	260,095	-13.8%	5.08%	+18.1%
PTVCB	Sell	PROTECTIVE INS CORP CL Bcs	$9,287,000	-0.9%	532,186	-1.3%	4.85%	+14.5%
TTWO	Sell	TAKE-TWO INTERACTIVE SOFTWAREcs	$9,189,000	-1.0%	73,316	-10.3%	4.80%	+14.4%
BRKB	Sell	BERKSHIRE HATHAWAY CLASS Bcs	$8,540,000	-15.6%	41,054	-13.5%	4.46%	-2.5%
HBI	Sell	HANESBRANDS INC COMcs	$7,514,000	-16.8%	490,470	-6.4%	3.93%	-3.9%
JEF	Sell	JEFFERIES FINL GROUP INC COMcs	$7,300,000	-8.1%	396,735	-3.9%	3.82%	+6.2%
SP	Sell	SP PLUS CORP COMcs	$7,099,000	+11.1%	191,863	-4.1%	3.71%	+28.3%
VST	Sell	VISTRA ENERGY CORP COMcs	$7,028,000	-2.0%	262,940	-17.0%	3.67%	+13.2%
SYKE	Sell	SYKES ENTERPRISES INC COMcs	$6,812,000	+6.5%	222,312	-4.6%	3.56%	+23.0%
WYND	Sell	WYNDHAM DESTINATIONS INC COMcs	$6,328,000	+3.8%	137,495	-1.0%	3.31%	+19.8%
MSGS	Sell	MADISON SQUARE GARDEN CO NEW Ccs	$6,243,000	-18.3%	23,690	-13.2%	3.26%	-5.6%
CTO	Sell	CONSOLIDATED TOMOKA LD CO COMcs	$6,185,000	-0.5%	94,280	-9.5%	3.23%	+14.9%
PCH	Sell	POTLATCHDELTIC CORPORATION COMcs	$5,609,000	-1.6%	136,524	-6.6%	2.93%	+13.7%
TDC	Buy	TERADATA CORP DEL COMcs	$5,545,000	-13.4%	178,864	+0.1%	2.90%	0.0%
IAA	Buy	IAA INC COMcs	$5,527,000	+46.8%	132,455	+36.5%	2.89%	+69.6%
FRPH	Sell	FRP HLDGS INC COMcs	$4,992,000	-26.1%	103,960	-14.1%	2.61%	-14.6%
DLTR	Sell	DOLLAR TREE INC COMcs	$4,861,000	-34.6%	42,579	-38.5%	2.54%	-24.5%
COG	Sell	CABOT OIL & GAS CORP COMcs	$4,758,000	-42.2%	270,815	-24.4%	2.49%	-33.2%
DISCK	Buy	DISCOVERY INC COM SER Ccs	$4,444,000	-4.5%	180,511	+10.3%	2.32%	+10.3%
BK	Sell	BANK NEW YORK MELLON CORP COMcs	$4,210,000	-11.1%	93,128	-13.2%	2.20%	+2.7%
GTX	Buy	GARRETT MOTION INC COMcs	$4,189,000	-34.0%	420,565	+1.7%	2.19%	-23.8%
SIC	Buy	SELECT INTERIOR CONCEPTS INC Ccs	$4,030,000	+141.5%	310,699	+116.8%	2.11%	+178.9%
ABC	Sell	AMERISOURCEBERGEN CORP COMcs	$3,898,000	-50.5%	47,344	-48.7%	2.04%	-42.8%
SILC	Buy	SILICOM LTD ORDcs	$3,529,000	-0.3%	111,691	+2.5%	1.84%	+15.1%
CRDB	Buy	CRAWFORD & CO CL Bcs	$3,330,000	+47.1%	330,032	+35.7%	1.74%	+69.9%
CSCO	Sell	CISCO SYS INC COMcs	$3,159,000	-11.1%	63,930	-1.5%	1.65%	+2.7%
	Buy	ECHO GLOBAL LOGISTICS INCcv	$2,964,000	+34.4%	2,979,000	+33.6%	1.55%	+55.2%
IAU	Sell	ISHARES GOLD TRUST ISHAREScs	$2,592,000	-23.7%	183,865	-26.9%	1.36%	-11.8%
BCEI	Sell	BONANZA CREEK ENERGY INC COM Ncs	$2,561,000	-46.9%	114,367	-50.5%	1.34%	-38.6%
DOX	Buy	AMDOCS LTD SHScs	$2,540,000	+9.8%	38,426	+3.1%	1.33%	+26.8%
CRDA	Sell	CRAWFORD & COMPANY - CL Acs	$2,423,000	-22.1%	222,717	-24.6%	1.27%	-10.0%
DG	Buy	DOLLAR GEN CORP NEW COMcs	$2,234,000	+20.4%	14,054	+2.3%	1.17%	+39.0%
CUB	Buy	CUBIC CORP COMcs	$1,964,000	+12.6%	27,888	+3.0%	1.03%	+29.9%
LH	Buy	LABORATORY CORP AMER HLDGS COMcs	$1,819,000	+0.2%	10,825	+3.1%	0.95%	+15.8%
	Buy	VITAMIN SHOPPE INCcv	$1,645,000	+191.2%	1,661,000	+159.1%	0.86%	+235.9%
BIO	Buy	BIO RAD LABS INC CL Acs	$1,617,000	+9.9%	4,861	+3.3%	0.84%	+26.9%
MANU	New	MANCHESTER UTD PLC NEW ORD CLcs	$1,599,000	–	97,338	–	0.84%	–
CAKE	Sell	CHEESECAKE FACTORY INC COMcs	$1,490,000	-48.6%	35,753	-46.1%	0.78%	-40.6%
KR	Buy	KROGER CO COMcs	$1,440,000	+47.5%	55,850	+24.2%	0.75%	+70.4%
TAP	Buy	MOLSON COORS BREWING CO CL Bcs	$1,381,000	+5.9%	24,016	+3.2%	0.72%	+22.4%
EA	Buy	ELECTRONIC ARTS INC COMcs	$1,240,000	+29.6%	12,678	+34.1%	0.65%	+49.7%
HTH	Sell	HILLTOP HOLDINGS INC COMcs	$1,071,000	-40.2%	44,835	-46.8%	0.56%	-30.9%
UEPS	Sell	NET 1 UEPS TECHNOLOGIES INC COcs	$1,065,000	-24.7%	298,273	-15.6%	0.56%	-13.0%
AGI	New	ALAMOS GOLD INC NEW COM CL Acs	$637,000	–	109,815	–	0.33%	–
ATVI	New	ACTIVISION BLIZZARD INC COMcs	$510,000	–	9,645	–	0.27%	–
	New	CTRIP COM INTL LTDcv	$488,000	–	500,000	–	0.26%	–
BATRK	New	LIBERTY MEDIA CORP DELAWARE COcs	$423,000	–	15,255	–	0.22%	–
	Sell	CALAMP CORPcv	$382,000	-14.0%	388,000	-13.8%	0.20%	-0.5%
CEF	New	SPROTT PHYSICAL GOLD & SILVERcs	$301,000	–	21,260	–	0.16%	–
ARCC	New	ARES CAP CORP COMcs	$220,000	–	11,800	–	0.12%	–
OXSQ	New	OXFORD SQUARE CAP CORP COMcs	$137,000	–	22,000	–	0.07%	–
JPST	Exit	JP MORGAN EXCHANGE TRADED FD Ucs	$0	–	-4,107	–	-0.09%	–
ACWX	Exit	ISHARES TR MSCI ACWI EX UScs	$0	–	-5,151	–	-0.11%	–
HALL	Exit	HALLMARK FINL SVCS INC EC Ccs	$0	–	-37,681	–	-0.24%	–
PRTY	Exit	PARTY CITY HOLDCO INC COMcs	$0	–	-118,418	–	-0.39%	–
	Exit	HURON CONSULTING GROUP INCcv	$0	–	-939,000	–	-0.42%	–
IMKTA	Exit	INGLES MKTS INC CL Acs	$0	–	-37,052	–	-0.52%	–
WDC	Exit	WESTERN DIGITAL CORP COMcs	$0	–	-26,067	–	-0.56%	–
GSKY	Exit	GREENSKY INC CL Acs	$0	–	-192,455	–	-1.07%	–
WU	Exit	WESTERN UN CO COMcs	$0	–	-205,891	–	-1.85%	–
	Exit	TWITTER INCcv	$0	–	-4,953,000	–	-2.23%	–

Q2 2019

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY CLASS Bcs	$10,113,000	–	47,439	–	4.58%	–
SKX	New	SKECHERS U S A INC CL Acs	$9,502,000	–	301,745	–	4.30%	–
PTVCB	New	PROTECTIVE INS CORP CL Bcs	$9,369,000	–	539,382	–	4.24%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWAREcs	$9,282,000	–	81,754	–	4.20%	–
HBI	New	HANESBRANDS INC COMcs	$9,027,000	–	524,210	–	4.08%	–
COG	New	CABOT OIL & GAS CORP COMcs	$8,226,000	–	358,290	–	3.72%	–
JEF	New	JEFFERIES FINL GROUP INC COMcs	$7,941,000	–	412,965	–	3.59%	–
ABC	New	AMERISOURCEBERGEN CORP COMcs	$7,875,000	–	92,369	–	3.56%	–
MSGS	New	MADISON SQUARE GARDEN CO NEW Ccs	$7,639,000	–	27,288	–	3.46%	–
DLTR	New	DOLLAR TREE INC COMcs	$7,434,000	–	69,225	–	3.36%	–
VST	New	VISTRA ENERGY CORP COMcs	$7,169,000	–	316,645	–	3.24%	–
FRPH	New	FRP HLDGS INC COMcs	$6,753,000	–	121,081	–	3.06%	–
TDC	New	TERADATA CORP DEL COMcs	$6,405,000	–	178,664	–	2.90%	–
SYKE	New	SYKES ENTERPRISES INC COMcs	$6,398,000	–	232,983	–	2.90%	–
SP	New	SP PLUS CORP COMcs	$6,389,000	–	200,093	–	2.89%	–
GTX	New	GARRETT MOTION INC COMcs	$6,349,000	–	413,592	–	2.87%	–
CTO	New	CONSOLIDATED TOMOKA LD CO COMcs	$6,218,000	–	104,152	–	2.81%	–
WYND	New	WYNDHAM DESTINATIONS INC COMcs	$6,099,000	–	138,920	–	2.76%	–
PCH	New	POTLATCHDELTIC CORPORATION COMcs	$5,700,000	–	146,221	–	2.58%	–
	New	TWITTER INCcv	$4,924,000	–	4,953,000	–	2.23%	–
BCEI	New	BONANZA CREEK ENERGY INC COM Ncs	$4,823,000	–	230,967	–	2.18%	–
BK	New	BANK NEW YORK MELLON CORP COMcs	$4,736,000	–	107,269	–	2.14%	–
DISCK	New	DISCOVERY INC COM SER Ccs	$4,654,000	–	163,601	–	2.11%	–
WU	New	WESTERN UN CO COMcs	$4,095,000	–	205,891	–	1.85%	–
IAA	New	IAA INC COMcs	$3,764,000	–	97,055	–	1.70%	–
CSCO	New	CISCO SYS INC COMcs	$3,553,000	–	64,914	–	1.61%	–
SILC	New	SILICOM LTD ORDcs	$3,540,000	–	108,996	–	1.60%	–
IAU	New	ISHARES GOLD TRUST ISHAREScs	$3,397,000	–	251,595	–	1.54%	–
CRDA	New	CRAWFORD & COMPANY - CL Acs	$3,109,000	–	295,274	–	1.41%	–
CAKE	New	CHEESECAKE FACTORY INC COMcs	$2,897,000	–	66,271	–	1.31%	–
GSKY	New	GREENSKY INC CL Acs	$2,365,000	–	192,455	–	1.07%	–
DOX	New	AMDOCS LTD SHScs	$2,314,000	–	37,276	–	1.05%	–
CRDB	New	CRAWFORD & CO CL Bcs	$2,264,000	–	243,165	–	1.02%	–
	New	ECHO GLOBAL LOGISTICS INCcv	$2,205,000	–	2,229,000	–	1.00%	–
	New	CONSOLIDATED TOMOKA LD COcv	$2,165,000	–	2,125,000	–	0.98%	–
DG	New	DOLLAR GEN CORP NEW COMcs	$1,856,000	–	13,733	–	0.84%	–
LH	New	LABORATORY CORP AMER HLDGS COMcs	$1,815,000	–	10,497	–	0.82%	–
HTH	New	HILLTOP HOLDINGS INC COMcs	$1,792,000	–	84,250	–	0.81%	–
CUB	New	CUBIC CORP COMcs	$1,745,000	–	27,063	–	0.79%	–
SIC	New	SELECT INTERIOR CONCEPTS INC Ccs	$1,669,000	–	143,279	–	0.76%	–
BIO	New	BIO RAD LABS INC CL Acs	$1,471,000	–	4,705	–	0.67%	–
UEPS	New	NET 1 UEPS TECHNOLOGIES INC COcs	$1,414,000	–	353,572	–	0.64%	–
TAP	New	MOLSON COORS BREWING CO CL Bcs	$1,304,000	–	23,281	–	0.59%	–
WDC	New	WESTERN DIGITAL CORP COMcs	$1,239,000	–	26,067	–	0.56%	–
IMKTA	New	INGLES MKTS INC CL Acs	$1,153,000	–	37,052	–	0.52%	–
KR	New	KROGER CO COMcs	$976,000	–	44,960	–	0.44%	–
EA	New	ELECTRONIC ARTS INC COMcs	$957,000	–	9,455	–	0.43%	–
	New	HURON CONSULTING GROUP INCcv	$930,000	–	939,000	–	0.42%	–
PRTY	New	PARTY CITY HOLDCO INC COMcs	$868,000	–	118,418	–	0.39%	–
CERN	New	CERNER CORP COMcs	$865,000	–	11,800	–	0.39%	–
	New	VITAMIN SHOPPE INCcv	$565,000	–	641,000	–	0.26%	–
HALL	New	HALLMARK FINL SVCS INC EC Ccs	$536,000	–	37,681	–	0.24%	–
	New	CALAMP CORPcv	$444,000	–	450,000	–	0.20%	–
ACWI	New	ISHARES TR MSCI ACWI ETFcs	$266,000	–	3,609	–	0.12%	–
ACWX	New	ISHARES TR MSCI ACWI EX UScs	$241,000	–	5,151	–	0.11%	–
JPST	New	JP MORGAN EXCHANGE TRADED FD Ucs	$207,000	–	4,107	–	0.09%	–

Q4 2018

			Value		Shares		↓ Weighting
CRDB	Exit	CRAWFORD & CO CL Bcs	$0	–	-29,175	–	-0.10%	–
AGI	Exit	ALAMOS GOLD INC NEW COM CL Acs	$0	–	-63,380	–	-0.11%	–
TPR	Exit	TAPESTRY INC COMcs	$0	–	-6,235	–	-0.12%	–
SLV	Exit	ISHARES SILVER TRUST ISHAREScs	$0	–	-24,665	–	-0.13%	–
KR	Exit	KROGER CO COMcs	$0	–	-17,630	–	-0.20%	–
TDS	Exit	TELEPHONE & DATA SYS INC COM Ncs	$0	–	-17,034	–	-0.20%	–
	Exit	EZCORP INCcv	$0	–	-528,000	–	-0.20%	–
CUB	Exit	CUBIC CORP COMcs	$0	–	-7,793	–	-0.22%	–
SYNT	Exit	SYNTEL INC COMcs	$0	–	-14,225	–	-0.22%	–
VZ	Exit	VERIZON COMMUNICATIONS INC COMcs	$0	–	-11,060	–	-0.23%	–
BIG	Exit	BIG LOTS INC COMcs	$0	–	-15,360	–	-0.25%	–
TAP	Exit	MOLSON COORS BREWING CO CL Bcs	$0	–	-10,730	–	-0.25%	–
DLTR	Exit	DOLLAR TREE INC COMcs	$0	–	-8,195	–	-0.26%	–
TTEK	Exit	TETRA TECH INC NEW COMcs	$0	–	-9,815	–	-0.26%	–
OMC	Exit	OMNICOM GROUP INC COMcs	$0	–	-13,620	–	-0.36%	–
MSGS	Exit	MADISON SQUARE GARDEN CO NEW Ccs	$0	–	-3,220	–	-0.39%	–
BIO	Exit	BIO RAD LABS INC CL Acs	$0	–	-3,349	–	-0.40%	–
NTRS	Exit	NORTHERN TR CORP COMcs	$0	–	-11,465	–	-0.45%	–
DFIN	Exit	DONNELLEY FINL SOLUTIONS INC Ccs	$0	–	-86,100	–	-0.59%	–
DG	Exit	DOLLAR GEN CORP NEW COMcs	$0	–	-14,315	–	-0.60%	–
BHA	Exit	BIGLARI HLDGS INC-Acs	$0	–	-2,374	–	-0.84%	–
	Exit	CONSOLIDATED TOMOKA LD COcv	$0	–	-2,125,000	–	-0.86%	–
CRDA	Exit	CRAWFORD & COMPANY - CL Acs	$0	–	-273,455	–	-0.94%	–
LH	Exit	LABORATORY CORP AMER HLDGS COMcs	$0	–	-15,606	–	-1.04%	–
AAPL	Exit	APPLE INC COMcs	$0	–	-17,053	–	-1.48%	–
GHL	Exit	GREENHILL & CO INC COMcs	$0	–	-152,744	–	-1.54%	–
IAU	Exit	ISHARES GOLD TRUST ISHAREScs	$0	–	-372,635	–	-1.64%	–
CSCO	Exit	CISCO SYS INC COMcs	$0	–	-88,975	–	-1.66%	–
CTO	Exit	CONSOLIDATED TOMOKA LD CO COMcs	$0	–	-93,482	–	-2.23%	–
BH	Exit	BIGLARI HLDGS INC-Bcs	$0	–	-32,446	–	-2.26%	–
DISCK	Exit	DISCOVERY INC COM SER Ccs	$0	–	-222,206	–	-2.52%	–
CAKE	Exit	CHEESECAKE FACTORY INC COMcs	$0	–	-132,925	–	-2.73%	–
BK	Exit	BANK NEW YORK MELLON CORP COMcs	$0	–	-148,671	–	-2.91%	–
WDC	Exit	WESTERN DIGITAL CORP COMcs	$0	–	-140,918	–	-3.17%	–
FRPH	Exit	FRP HLDGS INC COMcs	$0	–	-154,868	–	-3.69%	–
PTEN	Exit	PATTERSON UTI ENERGY INC COMcs	$0	–	-576,460	–	-3.78%	–
HALL	Exit	HALLMARK FINL SVCS INC EC Ccs	$0	–	-1,001,512	–	-4.23%	–
TDC	Exit	TERADATA CORP DEL COMcs	$0	–	-305,054	–	-4.42%	–
WU	Exit	WESTERN UN CO COMcs	$0	–	-738,177	–	-5.40%	–
OAK	Exit	OAKTREE CAP GROUP LLC UNIT CLcs	$0	–	-346,236	–	-5.50%	–
ABC	Exit	AMERISOURCEBERGEN CORP COMcs	$0	–	-161,660	–	-5.72%	–
JEF	Exit	JEFFERIES FINL GROUP INC COMcs	$0	–	-683,925	–	-5.76%	–
DOX	Exit	AMDOCS LTD SHScs	$0	–	-242,112	–	-6.13%	–
UEPS	Exit	NET 1 UEPS TECHNOLOGIES INC COcs	$0	–	-2,075,637	–	-6.37%	–
BRKB	Exit	BERKSHIRE HATHAWAY CLASS Bcs	$0	–	-106,337	–	-8.74%	–
PTVCB	Exit	PROTECTIVE INS CORP CL Bcs	$0	–	-1,010,194	–	-8.90%	–

Q3 2018

			Value		Shares		↓ Weighting
PTVCB	New	PROTECTIVE INS CORP CL Bcs	$23,184,000	–	1,010,194	–	8.90%	–
BRKB	Sell	BERKSHIRE HATHAWAY CLASS Bcs	$22,768,000	+1.1%	106,337	-11.9%	8.74%	+12.5%
UEPS	Sell	NET 1 UEPS TECHNOLOGIES INC COcs	$16,605,000	-17.6%	2,075,637	-6.5%	6.37%	-8.3%
DOX	Sell	AMDOCS LTD SHScs	$15,975,000	-27.4%	242,112	-27.1%	6.13%	-19.2%
JEF	Buy	JEFFERIES FINL GROUP INC COMcs	$15,019,000	-2.5%	683,925	+0.9%	5.76%	+8.4%
ABC	Buy	AMERISOURCEBERGEN CORP COMcs	$14,908,000	+11.0%	161,660	+2.7%	5.72%	+23.5%
OAK	Buy	OAKTREE CAP GROUP LLC UNIT CLcs	$14,334,000	+3.0%	346,236	+1.1%	5.50%	+14.6%
WU	Buy	WESTERN UN CO COMcs	$14,070,000	-3.2%	738,177	+3.2%	5.40%	+7.7%
TDC	Buy	TERADATA CORP DEL COMcs	$11,504,000	-3.8%	305,054	+2.4%	4.42%	+7.1%
HALL	Buy	HALLMARK FINL SVCS INC EC Ccs	$11,017,000	+12.7%	1,001,512	+2.2%	4.23%	+25.4%
PTEN	Sell	PATTERSON UTI ENERGY INC COMcs	$9,863,000	-19.7%	576,460	-15.5%	3.78%	-10.6%
FRPH	Sell	FRP HLDGS INC COMcs	$9,617,000	-11.9%	154,868	-8.2%	3.69%	-2.0%
WDC	Buy	WESTERN DIGITAL CORP COMcs	$8,249,000	-21.6%	140,918	+3.6%	3.17%	-12.8%
BK	Sell	BANK NEW YORK MELLON CORP COMcs	$7,581,000	-18.5%	148,671	-13.8%	2.91%	-9.3%
CAKE	Buy	CHEESECAKE FACTORY INC COMcs	$7,117,000	-1.8%	132,925	+1.0%	2.73%	+9.2%
DISCK	Sell	DISCOVERY INC COM SER Ccs	$6,573,000	-57.0%	222,206	-63.0%	2.52%	-52.2%
BH	Buy	BIGLARI HLDGS INC-Bcs	$5,884,000	+0.4%	32,446	+1.6%	2.26%	+11.7%
CTO	Buy	CONSOLIDATED TOMOKA LD CO COMcs	$5,822,000	+19.8%	93,482	+18.3%	2.23%	+33.3%
CSCO	Sell	CISCO SYS INC COMcs	$4,329,000	-18.1%	88,975	-27.5%	1.66%	-8.8%
IAU	Buy	ISHARES GOLD TRUST ISHAREScs	$4,259,000	-3.1%	372,635	+1.9%	1.64%	+7.8%
GHL	Sell	GREENHILL & CO INC COMcs	$4,025,000	-44.4%	152,744	-40.0%	1.54%	-38.1%
AAPL	Sell	APPLE INC COMcs	$3,850,000	+9.8%	17,053	-10.0%	1.48%	+22.2%
LH	Buy	LABORATORY CORP AMER HLDGS COMcs	$2,710,000	+9.8%	15,606	+13.5%	1.04%	+22.2%
CRDA	Buy	CRAWFORD & COMPANY - CL Acs	$2,461,000	+8.0%	273,455	+3.3%	0.94%	+20.1%
BHA	Sell	BIGLARI HLDGS INC-Acs	$2,189,000	-27.8%	2,374	-25.6%	0.84%	-19.6%
DG	Sell	DOLLAR GEN CORP NEW COMcs	$1,565,000	-3.0%	14,315	-12.5%	0.60%	+7.9%
BIO	Sell	BIO RAD LABS INC CL Acs	$1,048,000	+0.7%	3,349	-7.2%	0.40%	+12.0%
MSGS	New	MADISON SQUARE GARDEN CO NEW Ccs	$1,015,000	–	3,220	–	0.39%	–
OMC	Buy	OMNICOM GROUP INC COMcs	$926,000	+10.1%	13,620	+23.5%	0.36%	+22.4%
TTEK	Sell	TETRA TECH INC NEW COMcs	$670,000	-25.8%	9,815	-36.4%	0.26%	-17.4%
DLTR	Buy	DOLLAR TREE INC COMcs	$668,000	+104.3%	8,195	+112.9%	0.26%	+126.5%
BIG	Buy	BIG LOTS INC COMcs	$642,000	+92.8%	15,360	+93.0%	0.25%	+113.9%
SYNT	Sell	SYNTEL INC COMcs	$583,000	-33.2%	14,225	-47.7%	0.22%	-25.6%
TDS	Sell	TELEPHONE & DATA SYS INC COM Ncs	$518,000	-68.6%	17,034	-71.7%	0.20%	-65.0%
KR	Buy	KROGER CO COMcs	$513,000	+50.9%	17,630	+47.6%	0.20%	+68.4%
SLV	Sell	ISHARES SILVER TRUST ISHAREScs	$339,000	-64.0%	24,665	-60.3%	0.13%	-60.0%
TPR	Sell	TAPESTRY INC COMcs	$313,000	-38.0%	6,235	-42.3%	0.12%	-31.0%
CRDB	New	CRAWFORD & CO CL Bcs	$269,000	–	29,175	–	0.10%	–
BWINB	Exit	BALDWIN & LYONS INC CL Bcs	$0	–	-1,016,574	–	-8.55%	–

Q2 2018

			Value		Shares		↓ Weighting
BWINB	New	BALDWIN & LYONS INC CL Bcs	$24,804,000	–	1,016,574	–	8.55%	–
BRKB	New	BERKSHIRE HATHAWAY CLASS Bcs	$22,528,000	–	120,697	–	7.77%	–
DOX	New	AMDOCS LTD SHScs	$21,997,000	–	332,326	–	7.59%	–
UEPS	New	NET 1 UEPS TECHNOLOGIES INC COcs	$20,149,000	–	2,219,019	–	6.95%	–
JEF	New	JEFFERIES FINL GROUP INC COMcs	$15,412,000	–	677,750	–	5.32%	–
DISCK	New	DISCOVERY INC COM SER Ccs	$15,296,000	–	599,831	–	5.28%	–
WU	New	WESTERN UN CO COMcs	$14,542,000	–	715,279	–	5.02%	–
OAK	New	OAKTREE CAP GROUP LLC UNIT CLcs	$13,919,000	–	342,411	–	4.80%	–
ABC	New	AMERISOURCEBERGEN CORP COMcs	$13,429,000	–	157,485	–	4.63%	–
PTEN	New	PATTERSON UTI ENERGY INC COMcs	$12,282,000	–	682,315	–	4.24%	–
TDC	New	TERADATA CORP DEL COMcs	$11,956,000	–	297,779	–	4.12%	–
FRPH	New	FRP HLDGS INC COMcs	$10,921,000	–	168,671	–	3.77%	–
WDC	New	WESTERN DIGITAL CORP COMcs	$10,527,000	–	135,988	–	3.63%	–
HALL	New	HALLMARK FINL SVCS INC EC Ccs	$9,778,000	–	979,797	–	3.37%	–
BK	New	BANK NEW YORK MELLON CORP COMcs	$9,303,000	–	172,506	–	3.21%	–
CAKE	New	CHEESECAKE FACTORY INC COMcs	$7,248,000	–	131,630	–	2.50%	–
GHL	New	GREENHILL & CO INC COMcs	$7,236,000	–	254,780	–	2.50%	–
BH	New	BIGLARI HLDGS INC-Bcs	$5,860,000	–	31,935	–	2.02%	–
CSCO	New	CISCO SYS INC COMcs	$5,284,000	–	122,805	–	1.82%	–
CTO	New	CONSOLIDATED TOMOKA LD CO COMcs	$4,859,000	–	78,998	–	1.68%	–
IAU	New	ISHARES GOLD TRUST ISHAREScs	$4,397,000	–	365,845	–	1.52%	–
AAPL	New	APPLE INC COMcs	$3,507,000	–	18,943	–	1.21%	–
BHA	New	BIGLARI HLDGS INC-Acs	$3,030,000	–	3,190	–	1.04%	–
LH	New	LABORATORY CORP AMER HLDGS COMcs	$2,468,000	–	13,746	–	0.85%	–
CRDA	New	CRAWFORD & COMPANY - CL Acs	$2,279,000	–	264,704	–	0.79%	–
	New	CONSOLIDATED TOMOKA LD COcv	$2,221,000	–	2,125,000	–	0.77%	–
TDS	New	TELEPHONE & DATA SYS INC COM Ncs	$1,648,000	–	60,114	–	0.57%	–
DG	New	DOLLAR GEN CORP NEW COMcs	$1,614,000	–	16,365	–	0.56%	–
DFIN	New	DONNELLEY FINL SOLUTIONS INC Ccs	$1,496,000	–	86,100	–	0.52%	–
NTRS	New	NORTHERN TR CORP COMcs	$1,180,000	–	11,465	–	0.41%	–
BIO	New	BIO RAD LABS INC CL Acs	$1,041,000	–	3,609	–	0.36%	–
SLV	New	ISHARES SILVER TRUST ISHAREScs	$942,000	–	62,165	–	0.32%	–
TTEK	New	TETRA TECH INC NEW COMcs	$903,000	–	15,440	–	0.31%	–
SYNT	New	SYNTEL INC COMcs	$873,000	–	27,200	–	0.30%	–
OMC	New	OMNICOM GROUP INC COMcs	$841,000	–	11,030	–	0.29%	–
TAP	New	MOLSON COORS BREWING CO CL Bcs	$730,000	–	10,730	–	0.25%	–
VZ	New	VERIZON COMMUNICATIONS INC COMcs	$556,000	–	11,060	–	0.19%	–
	New	EZCORP INCcv	$534,000	–	528,000	–	0.18%	–
TPR	New	TAPESTRY INC COMcs	$505,000	–	10,810	–	0.17%	–
CUB	New	CUBIC CORP COMcs	$500,000	–	7,793	–	0.17%	–
AGI	New	ALAMOS GOLD INC NEW COM CL Acs	$361,000	–	63,380	–	0.12%	–
KR	New	KROGER CO COMcs	$340,000	–	11,945	–	0.12%	–
BIG	New	BIG LOTS INC COMcs	$333,000	–	7,960	–	0.12%	–
DLTR	New	DOLLAR TREE INC COMcs	$327,000	–	3,850	–	0.11%	–

Q4 2017

			Value		Shares		↓ Weighting
PPPMF	Exit	PRIMERO MNG CORP COMcs	$0	–	-100,000	–	-0.00%	–
MCF	Exit	CONTANGO OIL & GAS COMPANY COMcs	$0	–	-52,165	–	-0.11%	–
SLV	Exit	ISHARES SILVER TRUST ISHAREScs	$0	–	-32,420	–	-0.21%	–
HALL	Exit	HALLMARK FINL SVCS INC EC Ccs	$0	–	-50,413	–	-0.24%	–
CUB	Exit	CUBIC CORP COMcs	$0	–	-14,413	–	-0.30%	–
AGI	Exit	ALAMOS GOLD INC NEW COM CL Acs	$0	–	-111,108	–	-0.30%	–
BIO	Exit	BIO RAD LABS INC CL Acs	$0	–	-5,182	–	-0.47%	–
COH	Exit	COACH INC COMcs	$0	–	-30,480	–	-0.50%	–
TDS	Exit	TELEPHONE & DATA SYS INC COM Ncs	$0	–	-46,114	–	-0.52%	–
DG	Exit	DOLLAR GEN CORP NEW COMcs	$0	–	-17,900	–	-0.59%	–
NTRS	Exit	NORTHERN TR CORP COMcs	$0	–	-17,370	–	-0.65%	–
LH	Exit	LABORATORY CORP AMER HLDGS COMcs	$0	–	-11,731	–	-0.72%	–
TTEK	Exit	TETRA TECH INC NEW COMcs	$0	–	-45,595	–	-0.86%	–
VZ	Exit	VERIZON COMMUNICATIONS INC COMcs	$0	–	-45,460	–	-0.91%	–
GHL	Exit	GREENHILL & CO INC COMcs	$0	–	-177,426	–	-1.20%	–
AAPL	Exit	APPLE INC COMcs	$0	–	-19,764	–	-1.24%	–
CSCO	Exit	CISCO SYS INC COMcs	$0	–	-122,786	–	-1.68%	–
IAU	Exit	ISHARES GOLD TRUST ISHAREScs	$0	–	-428,520	–	-2.14%	–
FRPH	Exit	FRP HLDGS INC COMcs	$0	–	-167,198	–	-3.07%	–
	Exit	EZCORP INCcv	$0	–	-8,464,000	–	-3.34%	–
BK	Exit	BANK NEW YORK MELLON CORP COMcs	$0	–	-176,551	–	-3.80%	–
WDC	Exit	WESTERN DIGITAL CORP COMcs	$0	–	-145,478	–	-5.10%	–
PTEN	Exit	PATTERSON UTI ENERGY INC COMcs	$0	–	-608,980	–	-5.17%	–
WU	Exit	WESTERN UN CO COMcs	$0	–	-695,227	–	-5.42%	–
OAK	Exit	OAKTREE CAP GROUP LLC UNIT CLcs	$0	–	-283,931	–	-5.42%	–
	Exit	DOMINION DIAMOND CORP COMcs	$0	–	-992,401	–	-5.71%	–
LUK	Exit	LEUCADIA NATL CORP COMcs	$0	–	-657,770	–	-6.74%	–
TDC	Exit	TERADATA CORP DEL COMcs	$0	–	-579,895	–	-7.95%	–
BRKB	Exit	BERKSHIRE HATHAWAY CLASS Bcs	$0	–	-113,127	–	-8.42%	–
DOX	Exit	AMDOCS LTD SHScs	$0	–	-324,451	–	-8.47%	–
BWINB	Exit	BALDWIN & LYONS INC CL Bcs	$0	–	-1,011,349	–	-9.25%	–
SYNT	Exit	SYNTEL INC COMcs	$0	–	-1,194,099	–	-9.52%	–

Q3 2017

			Value		Shares		↓ Weighting
SYNT	Sell	SYNTEL INC COMcs	$23,464,000	+5.1%	1,194,099	-9.3%	9.52%	+9.0%
BWINB	Buy	BALDWIN & LYONS INC CL Bcs	$22,806,000	+16.6%	1,011,349	+26.7%	9.25%	+20.9%
DOX	Buy	AMDOCS LTD SHScs	$20,869,000	+0.1%	324,451	+0.3%	8.47%	+3.7%
TDC	Buy	TERADATA CORP DEL COMcs	$19,595,000	+14.7%	579,895	+0.1%	7.95%	+18.9%
LUK	Buy	LEUCADIA NATL CORP COMcs	$16,609,000	-3.1%	657,770	+0.4%	6.74%	+0.5%
	New	DOMINION DIAMOND CORP COMcs	$14,072,000	–	992,401	–	5.71%	–
OAK	Buy	OAKTREE CAP GROUP LLC UNIT CLcs	$13,359,000	+1.5%	283,931	+0.5%	5.42%	+5.2%
WU	Buy	WESTERN UN CO COMcs	$13,348,000	+1.2%	695,227	+0.4%	5.42%	+4.9%
PTEN	Sell	PATTERSON UTI ENERGY INC COMcs	$12,752,000	-27.2%	608,980	-29.8%	5.17%	-24.5%
WDC	Buy	WESTERN DIGITAL CORP COMcs	$12,569,000	-2.5%	145,478	+0.0%	5.10%	+1.1%
BK	Sell	BANK NEW YORK MELLON CORP COMcs	$9,361,000	+3.9%	176,551	-0.0%	3.80%	+7.7%
FRPH	Buy	FRP HLDGS INC COMcs	$7,566,000	+223.9%	167,198	+230.4%	3.07%	+235.9%
CSCO	Sell	CISCO SYS INC COMcs	$4,129,000	+7.4%	122,786	-0.1%	1.68%	+11.3%
AAPL	Sell	APPLE INC COMcs	$3,046,000	+6.8%	19,764	-0.2%	1.24%	+10.8%
GHL	New	GREENHILL & CO INC COMcs	$2,945,000	–	177,426	–	1.20%	–
VZ	Sell	VERIZON COMMUNICATIONS INC COMcs	$2,250,000	-81.3%	45,460	-83.1%	0.91%	-80.6%
TTEK	Sell	TETRA TECH INC NEW COMcs	$2,122,000	-63.7%	45,595	-64.3%	0.86%	-62.4%
LH	Sell	LABORATORY CORP AMER HLDGS COMcs	$1,771,000	-2.5%	11,731	-0.4%	0.72%	+1.1%
NTRS	Sell	NORTHERN TR CORP COMcs	$1,597,000	-7.5%	17,370	-2.2%	0.65%	-4.0%
TDS	Sell	TELEPHONE & DATA SYS INC COM Ncs	$1,286,000	-1.0%	46,114	-1.5%	0.52%	+2.8%
COH	Sell	COACH INC COMcs	$1,228,000	-16.1%	30,480	-1.5%	0.50%	-13.1%
BIO	Sell	BIO RAD LABS INC CL Acs	$1,152,000	-79.9%	5,182	-79.5%	0.47%	-79.2%
AGI	Sell	ALAMOS GOLD INC NEW COM CL Acs	$751,000	-6.4%	111,108	-0.5%	0.30%	-2.9%
CUB	Buy	CUBIC CORP COMcs	$735,000	+18.5%	14,413	+7.6%	0.30%	+22.6%
SLV	Buy	ISHARES SILVER TRUST ISHAREScs	$510,000	+37.8%	32,420	+37.5%	0.21%	+42.8%
SNI	Exit	SCRIPPS NETWORKS INTERACT INCcs	$0	–	-5,350	–	-0.14%	–
DDC	Exit	DOMINION DIAMOND CORP COMcs	$0	–	-1,351,123	–	-6.64%	–

Q2 2017

			Value		Shares		↓ Weighting
SYNT	New	SYNTEL INC COMcs	$22,324,000	–	1,316,299	–	8.74%	–
DOX	New	AMDOCS LTD SHScs	$20,858,000	–	323,576	–	8.16%	–
BWINB	New	BALDWIN & LYONS INC CL Bcs	$19,564,000	–	798,514	–	7.66%	–
BRKB	New	BERKSHIRE HATHAWAY CLASS Bcs	$19,160,000	–	113,127	–	7.50%	–
PTEN	New	PATTERSON UTI ENERGY INC COMcs	$17,522,000	–	867,880	–	6.86%	–
LUK	New	LEUCADIA NATL CORP COMcs	$17,135,000	–	655,025	–	6.71%	–
TDC	New	TERADATA CORP DEL COMcs	$17,090,000	–	579,510	–	6.69%	–
DDC	New	DOMINION DIAMOND CORP COMcs	$16,970,000	–	1,351,123	–	6.64%	–
WU	New	WESTERN UN CO COMcs	$13,189,000	–	692,327	–	5.16%	–
OAK	New	OAKTREE CAP GROUP LLC UNIT CLcs	$13,162,000	–	282,456	–	5.15%	–
WDC	New	WESTERN DIGITAL CORP COMcs	$12,888,000	–	145,468	–	5.04%	–
VZ	New	VERIZON COMMUNICATIONS INC COMcs	$12,029,000	–	269,354	–	4.71%	–
BK	New	BANK NEW YORK MELLON CORP COMcs	$9,011,000	–	176,621	–	3.53%	–
	New	EZCORP INCcv	$8,199,000	–	8,464,000	–	3.21%	–
TTEK	New	TETRA TECH INC NEW COMcs	$5,846,000	–	127,785	–	2.29%	–
BIO	New	BIO RAD LABS INC CL Acs	$5,727,000	–	25,304	–	2.24%	–
IAU	New	ISHARES GOLD TRUST ISHAREScs	$5,117,000	–	428,520	–	2.00%	–
CSCO	New	CISCO SYS INC COMcs	$3,845,000	–	122,850	–	1.50%	–
AAPL	New	APPLE INC COMcs	$2,851,000	–	19,799	–	1.12%	–
FRPH	New	FRP HLDGS INC COMcs	$2,336,000	–	50,608	–	0.91%	–
LH	New	LABORATORY CORP AMER HLDGS COMcs	$1,816,000	–	11,781	–	0.71%	–
NTRS	New	NORTHERN TR CORP COMcs	$1,726,000	–	17,760	–	0.68%	–
COH	New	COACH INC COMcs	$1,464,000	–	30,935	–	0.57%	–
TDS	New	TELEPHONE & DATA SYS INC COM Ncs	$1,299,000	–	46,794	–	0.51%	–
DG	New	DOLLAR GEN CORP NEW COMcs	$1,290,000	–	17,900	–	0.50%	–
AGI	New	ALAMOS GOLD INC NEW COM CL Acs	$802,000	–	111,663	–	0.31%	–
CUB	New	CUBIC CORP COMcs	$620,000	–	13,398	–	0.24%	–
HALL	New	HALLMARK FINL SVCS INC EC Ccs	$568,000	–	50,413	–	0.22%	–
SLV	New	ISHARES SILVER TRUST ISHAREScs	$370,000	–	23,570	–	0.14%	–
SNI	New	SCRIPPS NETWORKS INTERACT INCcs	$365,000	–	5,350	–	0.14%	–
MCF	New	CONTANGO OIL & GAS COMPANY COMcs	$346,000	–	52,165	–	0.14%	–
PPPMF	New	PRIMERO MNG CORP COMcs	$35,000	–	100,000	–	0.01%	–

Q4 2016

			Value		Shares		↓ Weighting
PPPMF	Exit	PRIMERO MNG CORP COMcs	$0	–	-100,000	–	-0.08%	–
BATRK	Exit	LIBERTY MEDIA CORP DELAWARE COcs	$0	–	-14,700	–	-0.12%	–
DG	Exit	DOLLAR GEN CORP NEW COMcs	$0	–	-6,400	–	-0.21%	–
MCF	Exit	CONTANGO OIL & GAS COMPANY COMcs	$0	–	-53,785	–	-0.26%	–
FRPH	Exit	FRP HLDGS INC COMcs	$0	–	-24,506	–	-0.36%	–
AGI	Exit	ALAMOS GOLD INC NEW COM CL Acs	$0	–	-115,115	–	-0.44%	–
TDS	Exit	TELEPHONE & DATA SYS INC COM Ncs	$0	–	-41,114	–	-0.53%	–
LH	Exit	LABORATORY CORP AMER HLDGS COMcs	$0	–	-10,741	–	-0.70%	–
NTRS	Exit	NORTHERN TR CORP COMcs	$0	–	-25,530	–	-0.82%	–
AAPL	Exit	APPLE INC COMcs	$0	–	-20,154	–	-1.07%	–
CSCO	Exit	CISCO SYS INC COMcs	$0	–	-128,045	–	-1.91%	–
DDC	Exit	DOMINION DIAMOND CORP COMcs	$0	–	-519,485	–	-2.38%	–
IAU	Exit	ISHARES GOLD TRUST ISHAREScs	$0	–	-404,385	–	-2.42%	–
BWINB	Exit	BALDWIN & LYONS INC CL Bcs	$0	–	-205,743	–	-2.48%	–
COH	Exit	COACH INC COMcs	$0	–	-159,255	–	-2.74%	–
ESRX	Exit	EXPRESS SCRIPTS HLDG CO COMcs	$0	–	-86,970	–	-2.89%	–
BIO	Exit	BIO RAD LABS INC CL Acs	$0	–	-41,104	–	-3.17%	–
	Exit	EZCORP INCcv	$0	–	-6,964,000	–	-3.24%	–
MAT	Exit	MATTEL INC COMcs	$0	–	-230,655	–	-3.29%	–
BK	Exit	BANK NEW YORK MELLON CORP COMcs	$0	–	-179,092	–	-3.36%	–
VZ	Exit	VERIZON COMMUNICATIONS INC COMcs	$0	–	-185,515	–	-4.54%	–
WU	Exit	WESTERN UN CO COMcs	$0	–	-469,629	–	-4.61%	–
CUB	Exit	CUBIC CORP COMcs	$0	–	-242,518	–	-5.35%	–
OAK	Exit	OAKTREE CAP GROUP LLC UNIT CLcs	$0	–	-271,110	–	-5.42%	–
PTEN	Exit	PATTERSON UTI ENERGY INC COMcs	$0	–	-516,450	–	-5.44%	–
DOX	Exit	AMDOCS LTD SHScs	$0	–	-209,291	–	-5.70%	–
LUK	Exit	LEUCADIA NATL CORP COMcs	$0	–	-671,925	–	-6.03%	–
WDC	Exit	WESTERN DIGITAL CORP COMcs	$0	–	-236,023	–	-6.50%	–
TDC	Exit	TERADATA CORP DEL COMcs	$0	–	-496,030	–	-7.24%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DEL CLcs	$0	–	-116,132	–	-7.90%	–
TTEK	Exit	TETRA TECH INC NEW COMcs	$0	–	-526,271	–	-8.79%	–

Q3 2016

			Value		Shares		↓ Weighting
TTEK	Sell	TETRA TECH INC NEW COMcs	$18,667,000	-10.4%	526,271	-22.4%	8.79%	+6.6%
BRKB	Sell	BERKSHIRE HATHAWAY INC DEL CLcs	$16,778,000	-0.7%	116,132	-0.5%	7.90%	+18.3%
TDC	Buy	TERADATA CORP DEL COMcs	$15,377,000	+24.2%	496,030	+0.5%	7.24%	+47.9%
WDC	Buy	WESTERN DIGITAL CORP COMcs	$13,800,000	+113.1%	236,023	+72.2%	6.50%	+153.6%
LUK	Buy	LEUCADIA NATL CORP COMcs	$12,793,000	+12.0%	671,925	+2.0%	6.03%	+33.3%
DOX	Buy	AMDOCS LTD SHScs	$12,107,000	+0.8%	209,291	+0.6%	5.70%	+20.0%
PTEN	Buy	PATTERSON UTI ENERGY INC COMcs	$11,553,000	+37.8%	516,450	+31.3%	5.44%	+64.1%
OAK	Buy	OAKTREE CAP GROUP LLC UNIT CLcs	$11,495,000	-3.4%	271,110	+2.0%	5.42%	+15.0%
CUB	Sell	CUBIC CORP COMcs	$11,352,000	-4.2%	242,518	-17.8%	5.35%	+14.0%
WU	Sell	WESTERN UN CO COMcs	$9,778,000	-5.5%	469,629	-13.0%	4.61%	+12.5%
VZ	Sell	VERIZON COMMUNICATIONS INC COMcs	$9,643,000	-13.0%	185,515	-6.5%	4.54%	+3.6%
BK	Buy	BANK NEW YORK MELLON CORP COMcs	$7,142,000	+5.9%	179,092	+3.1%	3.36%	+26.0%
MAT	Buy	MATTEL INC COMcs	$6,984,000	-2.7%	230,655	+0.6%	3.29%	+15.8%
	Sell	EZCORP INCcv	$6,883,000	-80.8%	6,964,000	-83.6%	3.24%	-77.1%
BIO	Sell	BIO RAD LABS INC CL Acs	$6,733,000	-3.1%	41,104	-15.4%	3.17%	+15.4%
ESRX	Sell	EXPRESS SCRIPTS HLDG CO COMcs	$6,134,000	-7.4%	86,970	-0.5%	2.89%	+10.2%
COH	Buy	COACH INC COMcs	$5,822,000	-10.0%	159,255	+0.3%	2.74%	+7.1%
BWINB	Sell	BALDWIN & LYONS INC CL Bcs	$5,273,000	-47.6%	205,743	-49.6%	2.48%	-37.6%
IAU	New	ISHARES GOLD TRUST ISHAREScs	$5,132,000	–	404,385	–	2.42%	–
DDC	New	DOMINION DIAMOND CORP COMcs	$5,060,000	–	519,485	–	2.38%	–
CSCO	Sell	CISCO SYS INC COMcs	$4,062,000	+9.9%	128,045	-0.6%	1.91%	+30.8%
AAPL	Buy	APPLE INC COMcs	$2,278,000	+49.3%	20,154	+26.2%	1.07%	+77.6%
NTRS	Buy	NORTHERN TR CORP COMcs	$1,736,000	+17.6%	25,530	+14.6%	0.82%	+40.1%
LH	Buy	LABORATORY CORP AMER HLDGS COMcs	$1,477,000	+24.7%	10,741	+18.2%	0.70%	+48.7%
TDS	Buy	TELEPHONE & DATA SYS INC COM Ncs	$1,117,000	-5.8%	41,114	+2.9%	0.53%	+12.2%
AGI	Sell	ALAMOS GOLD INC NEW COM CL Acs	$944,000	-22.1%	115,115	-18.3%	0.44%	-7.3%
MCF	Buy	CONTANGO OIL & GAS COMPANY COMcs	$550,000	+122.7%	53,785	+166.1%	0.26%	+164.3%
PPPMF	New	PRIMERO MNG CORP COMcs	$166,000	–	100,000	–	0.08%	–
SAND	Exit	SANDSTORM GOLD LTD COM NEWcs	$0	–	-807,082	–	-1.42%	–
SLW	Exit	SILVER WHEATON CORP COMcs	$0	–	-337,815	–	-3.14%	–
ASEI	Exit	AMERICAN SCIENCE & ENGR INC COcs	$0	–	-417,213	–	-6.18%	–

Q2 2016

			Value		Shares		↓ Weighting
	New	EZCORP INCcv	$35,777,000	–	42,486,000	–	14.16%	–
TTEK	New	TETRA TECH INC NEW COMcs	$20,839,000	–	677,793	–	8.24%	–
BRKB	New	BERKSHIRE HATHAWAY INC DEL CLcs	$16,891,000	–	116,662	–	6.68%	–
ASEI	New	AMERICAN SCIENCE & ENGR INC COcs	$15,608,000	–	417,213	–	6.18%	–
TDC	New	TERADATA CORP DEL COMcs	$12,378,000	–	493,755	–	4.90%	–
DOX	New	AMDOCS LTD SHScs	$12,008,000	–	208,041	–	4.75%	–
OAK	New	OAKTREE CAP GROUP LLC UNIT CLcs	$11,895,000	–	265,747	–	4.71%	–
CUB	New	CUBIC CORP COMcs	$11,855,000	–	295,182	–	4.69%	–
LUK	New	LEUCADIA NATL CORP COMcs	$11,422,000	–	659,070	–	4.52%	–
VZ	New	VERIZON COMMUNICATIONS INC COMcs	$11,083,000	–	198,476	–	4.38%	–
WU	New	WESTERN UN CO COMcs	$10,352,000	–	539,740	–	4.10%	–
BWINB	New	BALDWIN & LYONS INC CL Bcs	$10,061,000	–	408,003	–	3.98%	–
PTEN	New	PATTERSON UTI ENERGY INC COMcs	$8,384,000	–	393,260	–	3.32%	–
SLW	New	SILVER WHEATON CORP COMcs	$7,949,000	–	337,815	–	3.14%	–
MAT	New	MATTEL INC COMcs	$7,178,000	–	229,390	–	2.84%	–
BIO	New	BIO RAD LABS INC CL Acs	$6,948,000	–	48,583	–	2.75%	–
BK	New	BANK NEW YORK MELLON CORP COMcs	$6,745,000	–	173,625	–	2.67%	–
ESRX	New	EXPRESS SCRIPTS HLDG CO COMcs	$6,623,000	–	87,370	–	2.62%	–
WDC	New	WESTERN DIGITAL CORP COMcs	$6,477,000	–	137,049	–	2.56%	–
COH	New	COACH INC COMcs	$6,471,000	–	158,825	–	2.56%	–
CSCO	New	CISCO SYS INC COMcs	$3,696,000	–	128,830	–	1.46%	–
SAND	New	SANDSTORM GOLD LTD COM NEWcs	$3,600,000	–	807,082	–	1.42%	–
AAPL	New	APPLE INC COMcs	$1,526,000	–	15,964	–	0.60%	–
NTRS	New	NORTHERN TR CORP COMcs	$1,476,000	–	22,280	–	0.58%	–
AGI	New	ALAMOS GOLD INC NEW COM CL Acs	$1,212,000	–	140,875	–	0.48%	–
TDS	New	TELEPHONE & DATA SYS INC COM Ncs	$1,186,000	–	39,974	–	0.47%	–
LH	New	LABORATORY CORP AMER HLDGS COMcs	$1,184,000	–	9,086	–	0.47%	–
FRPH	New	FRP HLDGS INC COMcs	$845,000	–	24,506	–	0.33%	–
DG	New	DOLLAR GEN CORP NEW COMcs	$602,000	–	6,400	–	0.24%	–
MCF	New	CONTANGO OIL & GAS COMPANY COMcs	$247,000	–	20,215	–	0.10%	–
BATRK	New	LIBERTY MEDIA CORP DELAWARE COcs	$216,000	–	14,700	–	0.08%	–

Q4 2015

			Value		Shares		↓ Weighting
PAAS	Exit	PAN AMERICAN SILVER CORP COMcs	$0	–	-73,400	–	-0.08%	–
MCF	Exit	CONTANGO OIL & GAS COMPANY COMcs	$0	–	-75,930	–	-0.10%	–
PFIE	Exit	PROFIRE ENERGY INC COMcs	$0	–	-1,009,962	–	-0.16%	–
DG	Exit	DOLLAR GEN CORP NEW COMcs	$0	–	-14,000	–	-0.17%	–
LH	Exit	LABORATORY CORP AMER HLDGS COMcs	$0	–	-12,992	–	-0.23%	–
FRPH	Exit	FRP HLDGS INC COMcs	$0	–	-49,012	–	-0.24%	–
AGI	Exit	ALAMOS GOLD INC NEW COM CL Acs	$0	–	-446,510	–	-0.27%	–
SM	Exit	SM ENERGY CO COMcs	$0	–	-66,000	–	-0.35%	–
MDAS	Exit	MEDASSETS INC COMcs	$0	–	-115,000	–	-0.38%	–
NTRS	Exit	NORTHERN TR CORP COMcs	$0	–	-38,540	–	-0.43%	–
SNDK	Exit	SANDISK CORP COMcs	$0	–	-49,380	–	-0.44%	–
TDC	Exit	TERADATA CORP DEL COMcs	$0	–	-101,880	–	-0.49%	–
AAPL	Exit	APPLE INC COMcs	$0	–	-31,928	–	-0.58%	–
MAT	Exit	MATTEL INC COMcs	$0	–	-358,570	–	-1.25%	–
CSCO	Exit	CISCO SYS INC COMcs	$0	–	-354,000	–	-1.54%	–
PTEN	Exit	PATTERSON UTI ENERGY INC COMcs	$0	–	-784,520	–	-1.70%	–
SLW	Exit	SILVER WHEATON CORP COMcs	$0	–	-867,390	–	-1.72%	–
SPLS	Exit	STAPLES INC COMcs	$0	–	-904,940	–	-1.76%	–
COH	Exit	COACH INC COMcs	$0	–	-429,560	–	-2.06%	–
UNTCQ	Exit	UNIT CORP COMcs	$0	–	-1,107,850	–	-2.06%	–
CUB	Exit	CUBIC CORP COMcs	$0	–	-298,094	–	-2.07%	–
SAND	Exit	SANDSTORM GOLD LTD COM NEWcs	$0	–	-5,306,302	–	-2.34%	–
HWKN	Exit	HAWKINS INC COMcs	$0	–	-369,316	–	-2.35%	–
FN	Exit	FABRINET SHScs	$0	–	-818,054	–	-2.48%	–
BK	Exit	BANK NEW YORK MELLON CORP COMcs	$0	–	-383,090	–	-2.48%	–
TDS	Exit	TELEPHONE & DATA SYS INC COM Ncs	$0	–	-666,098	–	-2.75%	–
MSFT	Exit	MICROSOFT CORP COMcs	$0	–	-391,660	–	-2.87%	–
SYMC	Exit	SYMANTEC CORP COMcs	$0	–	-967,560	–	-3.12%	–
BIO	Exit	BIO RAD LABS INC CL Acs	$0	–	-145,224	–	-3.23%	–
ASEI	Exit	AMERICAN SCIENCE & ENGR INC COcs	$0	–	-609,474	–	-3.59%	–
WU	Exit	WESTERN UN CO COMcs	$0	–	-1,223,820	–	-3.72%	–
ESRX	Exit	EXPRESS SCRIPTS HLDG CO COMcs	$0	–	-279,640	–	-3.75%	–
LUK	Exit	LEUCADIA NATL CORP COMcs	$0	–	-1,151,430	–	-3.86%	–
BWINB	Exit	BALDWIN & LYONS INC CL Bcs	$0	–	-1,199,918	–	-4.31%	–
OAK	Exit	OAKTREE CAP GROUP LLC UNIT CLcs	$0	–	-544,526	–	-4.46%	–
VZ	Exit	VERIZON COMMUNICATIONS INC COMcs	$0	–	-655,602	–	-4.72%	–
	Exit	EZCORP INCcv	$0	–	-40,520,000	–	-4.78%	–
IM	Exit	INGRAM MICRO INC CL Acs	$0	–	-1,198,224	–	-5.40%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DEL CLcs	$0	–	-273,604	–	-5.90%	–
DOX	Exit	AMDOCS LTD SHScs	$0	–	-752,122	–	-7.08%	–
TTEK	Exit	TETRA TECH INC NEW COMcs	$0	–	-2,168,786	–	-8.72%	–

Q3 2015

			Value		Shares		↓ Weighting
TTEK	Buy	TETRA TECH INC NEW COMcs	$52,724,000	+87.7%	2,168,786	+97.9%	8.72%	-5.4%
DOX	Buy	AMDOCS LTD SHScs	$42,780,000	+73.4%	752,122	+66.4%	7.08%	-12.6%
BRKB	Buy	BERKSHIRE HATHAWAY INC DEL CLcs	$35,678,000	+90.9%	273,604	+99.2%	5.90%	-3.8%
IM	Buy	INGRAM MICRO INC CL Acs	$32,640,000	+117.8%	1,198,224	+100.1%	5.40%	+9.8%
	New	EZCORP INCcv	$28,921,000	–	40,520,000	–	4.78%	–
VZ	Buy	VERIZON COMMUNICATIONS INC COMcs	$28,526,000	+137.3%	655,602	+154.2%	4.72%	+19.6%
OAK	Buy	OAKTREE CAP GROUP LLC UNIT CLcs	$26,954,000	+86.4%	544,526	+100.2%	4.46%	-6.1%
BWINB	Buy	BALDWIN & LYONS INC CL Bcs	$26,038,000	+109.7%	1,199,918	+122.5%	4.31%	+5.7%
LUK	Buy	LEUCADIA NATL CORP COMcs	$23,328,000	+67.2%	1,151,430	+100.4%	3.86%	-15.7%
ESRX	Buy	EXPRESS SCRIPTS HLDG CO COMcs	$22,640,000	+40.4%	279,640	+54.3%	3.75%	-29.2%
WU	Buy	WESTERN UN CO COMcs	$22,470,000	+136.5%	1,223,820	+161.9%	3.72%	+19.2%
ASEI	Buy	AMERICAN SCIENCE & ENGR INC COcs	$21,672,000	+1169.6%	609,474	+1463.9%	3.59%	+540.4%
BIO	Buy	BIO RAD LABS INC CL Acs	$19,506,000	+47.9%	145,224	+65.9%	3.23%	-25.4%
SYMC	New	SYMANTEC CORP COMcs	$18,838,000	–	967,560	–	3.12%	–
MSFT	Buy	MICROSOFT CORP COMcs	$17,334,000	+99.8%	391,660	+99.3%	2.87%	+0.7%
TDS	Buy	TELEPHONE & DATA SYS INC COM Ncs	$16,626,000	+69.9%	666,098	+100.1%	2.75%	-14.4%
FN	Buy	FABRINET SHScs	$14,994,000	+95.3%	818,054	+99.5%	2.48%	-1.6%
BK	Buy	BANK NEW YORK MELLON CORP COMcs	$14,998,000	+85.9%	383,090	+99.3%	2.48%	-6.3%
HWKN	Buy	HAWKINS INC COMcs	$14,218,000	+90.2%	369,316	+99.5%	2.35%	-4.2%
SAND	Buy	SANDSTORM GOLD LTD COM NEWcs	$14,168,000	+104.4%	5,306,302	+125.1%	2.34%	+3.0%
CUB	New	CUBIC CORP COMcs	$12,502,000	–	298,094	–	2.07%	–
UNTCQ	Buy	UNIT CORP COMcs	$12,474,000	+18.0%	1,107,850	+184.1%	2.06%	-40.5%
COH	Buy	COACH INC COMcs	$12,428,000	+85.0%	429,560	+121.3%	2.06%	-6.8%
SPLS	Buy	STAPLES INC COMcs	$10,614,000	+52.9%	904,940	+99.6%	1.76%	-22.9%
SLW	New	SILVER WHEATON CORP COMcs	$10,418,000	–	867,390	–	1.72%	–
PTEN	Buy	PATTERSON UTI ENERGY INC COMcs	$10,308,000	+104.0%	784,520	+192.1%	1.70%	+2.8%
CSCO	Buy	CISCO SYS INC COMcs	$9,292,000	+90.8%	354,000	+99.5%	1.54%	-3.9%
MAT	Buy	MATTEL INC COMcs	$7,552,000	+19.7%	358,570	+46.0%	1.25%	-39.7%
AAPL	Buy	APPLE INC COMcs	$3,522,000	+75.9%	31,928	+100.0%	0.58%	-11.3%
TDC	Buy	TERADATA CORP DEL COMcs	$2,950,000	+11.2%	101,880	+42.1%	0.49%	-44.0%
SNDK	Buy	SANDISK CORP COMcs	$2,682,000	+92.5%	49,380	+106.3%	0.44%	-2.8%
NTRS	Buy	NORTHERN TR CORP COMcs	$2,626,000	+78.3%	38,540	+100.0%	0.43%	-10.3%
MDAS	Buy	MEDASSETS INC COMcs	$2,306,000	+81.9%	115,000	+100.0%	0.38%	-8.2%
SM	New	SM ENERGY CO COMcs	$2,114,000	–	66,000	–	0.35%	–
AGI	New	ALAMOS GOLD INC NEW COM CL Acs	$1,648,000	–	446,510	–	0.27%	–
FRPH	Buy	FRP HLDGS INC COMcs	$1,478,000	+85.9%	49,012	+100.0%	0.24%	-6.1%
LH	Buy	LABORATORY CORP AMER HLDGS COMcs	$1,410,000	+84.1%	12,992	+105.6%	0.23%	-7.2%
DG	Buy	DOLLAR GEN CORP NEW COMcs	$1,014,000	+86.4%	14,000	+100.0%	0.17%	-6.1%
PFIE	Buy	PROFIRE ENERGY INC COMcs	$970,000	+71.4%	1,009,962	+100.0%	0.16%	-14.0%
MCF	Sell	CONTANGO OIL & GAS COMPANY COMcs	$578,000	-90.0%	75,930	-83.9%	0.10%	-94.9%
PAAS	Sell	PAN AMERICAN SILVER CORP COMcs	$466,000	-93.9%	73,400	-91.8%	0.08%	-96.9%
PATI	Exit	PATRIOT TRANSN HLDG INC COMcs	$0	–	-8,168	–	-0.07%	–
NEM	Exit	NEWMONT MINING CORP COMcs	$0	–	-45,330	–	-0.35%	–
AUQ	Exit	AURICO GOLD INC COMcs	$0	–	-1,333,595	–	-1.24%	–
NOG	Exit	NORTHERN OIL & GAS INC NEV COMcs	$0	–	-852,750	–	-1.90%	–

Q2 2015

			Value		Shares		↓ Weighting
TTEK	New	TETRA TECH INC NEW COMcs	$28,092,000	–	1,095,648	–	9.22%	–
DOX	New	AMDOCS LTD SHScs	$24,675,000	–	452,011	–	8.10%	–
BRKB	New	BERKSHIRE HATHAWAY INC DEL CLcs	$18,693,000	–	137,340	–	6.14%	–
ESRX	New	EXPRESS SCRIPTS HLDG CO COMcs	$16,123,000	–	181,280	–	5.29%	–
IM	New	INGRAM MICRO INC CL Acs	$14,986,000	–	598,703	–	4.92%	–
OAK	New	OAKTREE CAP GROUP LLC UNIT CLcs	$14,464,000	–	271,988	–	4.75%	–
LUK	New	LEUCADIA NATL CORP COMcs	$13,949,000	–	574,495	–	4.58%	–
BIO	New	BIO RAD LABS INC CL Acs	$13,185,000	–	87,545	–	4.33%	–
BWINB	New	BALDWIN & LYONS INC CL Bcs	$12,415,000	–	539,317	–	4.08%	–
VZ	New	VERIZON COMMUNICATIONS INC COMcs	$12,023,000	–	257,951	–	3.95%	–
UNTCQ	New	UNIT CORP COMcs	$10,574,000	–	389,912	–	3.47%	–
TDS	New	TELEPHONE & DATA SYS INC COM Ncs	$9,787,000	–	332,888	–	3.21%	–
WU	New	WESTERN UN CO COMcs	$9,500,000	–	467,280	–	3.12%	–
MSFT	New	MICROSOFT CORP COMcs	$8,675,000	–	196,500	–	2.85%	–
BK	New	BANK NEW YORK MELLON CORP COMcs	$8,069,000	–	192,255	–	2.65%	–
FN	New	FABRINET SHScs	$7,679,000	–	409,974	–	2.52%	–
PAAS	New	PAN AMERICAN SILVER CORP COMcs	$7,662,000	–	891,955	–	2.52%	–
HWKN	New	HAWKINS INC COMcs	$7,477,000	–	185,110	–	2.46%	–
SPLS	New	STAPLES INC COMcs	$6,942,000	–	453,450	–	2.28%	–
SAND	New	SANDSTORM GOLD LTD COM NEWcs	$6,930,000	–	2,357,028	–	2.28%	–
COH	New	COACH INC COMcs	$6,718,000	–	194,110	–	2.20%	–
MAT	New	MATTEL INC COMcs	$6,309,000	–	245,565	–	2.07%	–
MCF	New	CONTANGO OIL & GAS COMPANY COMcs	$5,772,000	–	470,423	–	1.90%	–
NOG	New	NORTHERN OIL & GAS INC NEV COMcs	$5,773,000	–	852,750	–	1.90%	–
PTEN	New	PATTERSON UTI ENERGY INC COMcs	$5,053,000	–	268,540	–	1.66%	–
CSCO	New	CISCO SYS INC COMcs	$4,871,000	–	177,400	–	1.60%	–
AUQ	New	AURICO GOLD INC COMcs	$3,787,000	–	1,333,595	–	1.24%	–
TDC	New	TERADATA CORP DEL COMcs	$2,652,000	–	71,675	–	0.87%	–
AAPL	New	APPLE INC COMcs	$2,002,000	–	15,964	–	0.66%	–
ASEI	New	AMERICAN SCIENCE & ENGR INC COcs	$1,707,000	–	38,972	–	0.56%	–
NTRS	New	NORTHERN TR CORP COMcs	$1,473,000	–	19,270	–	0.48%	–
SNDK	New	SANDISK CORP COMcs	$1,393,000	–	23,935	–	0.46%	–
MDAS	New	MEDASSETS INC COMcs	$1,268,000	–	57,500	–	0.42%	–
NEM	New	NEWMONT MINING CORP COMcs	$1,059,000	–	45,330	–	0.35%	–
FRPH	New	FRP HLDGS INC COMcs	$795,000	–	24,506	–	0.26%	–
LH	New	LABORATORY CORP AMER HLDGS COMcs	$766,000	–	6,320	–	0.25%	–
PFIE	New	PROFIRE ENERGY INC COMcs	$566,000	–	504,981	–	0.19%	–
DG	New	DOLLAR GEN CORP NEW COMcs	$544,000	–	7,000	–	0.18%	–
PATI	New	PATRIOT TRANSN HLDG INC COMcs	$201,000	–	8,168	–	0.07%	–

Q4 2014

			Value		Shares		↓ Weighting
RYN	Exit	RAYONIER INC COMcs	$0	–	-7,629	–	-0.06%	–
PBY	Exit	PEP BOYS MANNY MOE & JACK COMcs	$0	–	-33,000	–	-0.08%	–
DG	Exit	DOLLAR GEN CORP NEW COMcs	$0	–	-10,000	–	-0.16%	–
PATR	Exit	PATRIOT TRANSN HLDG INC COMcs	$0	–	-24,506	–	-0.22%	–
THOR	Exit	THORATEC CORP COM NEWcs	$0	–	-34,000	–	-0.25%	–
NEM	Exit	NEWMONT MINING CORP COMcs	$0	–	-40,220	–	-0.25%	–
BWINB	Exit	BALDWIN & LYONS INC CL Bcs	$0	–	-50,157	–	-0.34%	–
NTRS	Exit	NORTHERN TR CORP COMcs	$0	–	-19,270	–	-0.36%	–
DGX	Exit	QUEST DIAGNOSTICS INC COMcs	$0	–	-23,020	–	-0.38%	–
LH	Exit	LABORATORY CORP AMER HLDGS COMcs	$0	–	-14,570	–	-0.40%	–
TDC	Exit	TERADATA CORP DEL COMcs	$0	–	-45,270	–	-0.51%	–
WWE	Exit	WORLD WRESTLING ENTMT INC CL Acs	$0	–	-151,880	–	-0.57%	–
AAPL	Exit	APPLE INC COMcs	$0	–	-24,024	–	-0.66%	–
MAT	Exit	MATTEL INC COMcs	$0	–	-82,920	–	-0.69%	–
COH	Exit	COACH INC COMcs	$0	–	-80,940	–	-0.78%	–
NOG	Exit	NORTHERN OIL & GAS INC NEV COMcs	$0	–	-229,978	–	-0.89%	–
GPN	Exit	GLOBAL PMTS INC COMcs	$0	–	-53,695	–	-1.02%	–
AUQ	Exit	AURICO GOLD INC COMcs	$0	–	-1,211,395	–	-1.14%	–
PAAS	Exit	PAN AMERICAN SILVER CORP COMcs	$0	–	-428,955	–	-1.28%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTDcs	$0	–	-84,715	–	-1.59%	–
CSGS	Exit	CSG SYS INTL INC COMcs	$0	–	-250,563	–	-1.78%	–
HWKN	Exit	HAWKINS INC COMcs	$0	–	-184,997	–	-1.80%	–
MSFT	Exit	MICROSOFT CORP COMcs	$0	–	-199,500	–	-2.50%	–
AEO	Exit	AMERICAN EAGLE OUTFITTERS NEWcs	$0	–	-662,290	–	-2.60%	–
CSCO	Exit	CISCO SYS INC COMcs	$0	–	-389,690	–	-2.66%	–
BBG	Exit	BARRETT BILL CORP COMcs	$0	–	-538,525	–	-3.21%	–
NFX	Exit	NEWFIELD EXPL CO COMcs	$0	–	-320,965	–	-3.22%	–
OAK	Exit	OAKTREE CAP GROUP LLC UNIT CLcs	$0	–	-264,928	–	-3.67%	–
AHL	Exit	ASPEN INSURANCE HOLDINGS LTD Scs	$0	–	-316,895	–	-3.67%	–
BK	Exit	BANK NEW YORK MELLON CORP COMcs	$0	–	-350,990	–	-3.68%	–
FCN	Exit	FTI CONSULTING INC COMcs	$0	–	-393,248	–	-3.72%	–
TDS	Exit	TELEPHONE & DATA SYS INC COM Ncs	$0	–	-574,083	–	-3.72%	–
SPLS	Exit	STAPLES INC COMcs	$0	–	-1,247,760	–	-4.09%	–
IM	Exit	INGRAM MICRO INC CL Acs	$0	–	-692,497	–	-4.84%	–
ISRG	Exit	INTUITIVE SURGICAL INC COM NEWcs	$0	–	-39,027	–	-4.88%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DEL CLcs	$0	–	-130,840	–	-4.89%	–
WU	Exit	WESTERN UN CO COMcs	$0	–	-1,174,400	–	-5.10%	–
BIO	Exit	BIO RAD LABS INC CL Acs	$0	–	-294,708	–	-9.05%	–
TTEK	Exit	TETRA TECH INC NEW COMcs	$0	–	-1,371,215	–	-9.28%	–
DOX	Exit	AMDOCS LTD SHScs	$0	–	-805,136	–	-10.00%	–

Q3 2014

			Value		Shares		↓ Weighting
DOX	Buy	AMDOCS LTD SHScs	$36,940,000	-0.9%	805,136	+0.0%	10.00%	+12.9%
TTEK	Buy	TETRA TECH INC NEW COMcs	$34,253,000	+0.9%	1,371,215	+11.0%	9.28%	+15.0%
BIO	Buy	BIO RAD LABS INC CL Acs	$33,420,000	-5.2%	294,708	+0.0%	9.05%	+8.0%
WU	Buy	WESTERN UN CO COMcs	$18,837,000	+6.9%	1,174,400	+15.6%	5.10%	+21.9%
ISRG	Sell	INTUITIVE SURGICAL INC COM NEWcs	$18,023,000	+12.0%	39,027	-0.1%	4.88%	+27.7%
IM	Buy	INGRAM MICRO INC CL Acs	$17,873,000	-11.6%	692,497	+0.0%	4.84%	+0.8%
SPLS	Buy	STAPLES INC COMcs	$15,098,000	+12.7%	1,247,760	+1.0%	4.09%	+28.5%
TDS	Sell	TELEPHONE & DATA SYS INC COM Ncs	$13,755,000	-8.3%	574,083	-0.0%	3.72%	+4.6%
FCN	Sell	FTI CONSULTING INC COMcs	$13,748,000	-7.6%	393,248	-0.0%	3.72%	+5.3%
BK	Sell	BANK NEW YORK MELLON CORP COMcs	$13,594,000	+3.2%	350,990	-0.1%	3.68%	+17.6%
AHL	Buy	ASPEN INSURANCE HOLDINGS LTD Scs	$13,554,000	+23.7%	316,895	+31.3%	3.67%	+40.9%
OAK	Sell	OAKTREE CAP GROUP LLC UNIT CLcs	$13,538,000	+2.1%	264,928	-0.1%	3.67%	+16.4%
NFX	Sell	NEWFIELD EXPL CO COMcs	$11,898,000	-46.7%	320,965	-36.4%	3.22%	-39.2%
BBG	Buy	BARRETT BILL CORP COMcs	$11,869,000	-11.9%	538,525	+7.0%	3.21%	+0.4%
CSCO	Sell	CISCO SYS INC COMcs	$9,808,000	+1.1%	389,690	-0.2%	2.66%	+15.2%
AEO	Sell	AMERICAN EAGLE OUTFITTERS NEWcs	$9,616,000	-34.2%	662,290	-49.1%	2.60%	-25.0%
MSFT	Sell	MICROSOFT CORP COMcs	$9,249,000	+11.0%	199,500	-0.2%	2.50%	+26.5%
HWKN	Buy	HAWKINS INC COMcs	$6,652,000	+15.2%	184,997	+19.0%	1.80%	+31.4%
CHKP	Sell	CHECK POINT SOFTWARE TECH LTDcs	$5,866,000	+3.2%	84,715	-0.1%	1.59%	+17.5%
PAAS	Buy	PAN AMERICAN SILVER CORP COMcs	$4,710,000	-24.4%	428,955	+5.7%	1.28%	-13.9%
AUQ	Buy	AURICO GOLD INC COMcs	$4,228,000	-18.1%	1,211,395	+0.0%	1.14%	-6.6%
GPN	Sell	GLOBAL PMTS INC COMcs	$3,752,000	-4.1%	53,695	-0.0%	1.02%	+9.4%
NOG	Buy	NORTHERN OIL & GAS INC NEV COMcs	$3,270,000	+141.3%	229,978	+176.4%	0.89%	+175.2%
COH	Sell	COACH INC COMcs	$2,882,000	-77.9%	80,940	-78.8%	0.78%	-74.9%
MAT	Sell	MATTEL INC COMcs	$2,541,000	-82.0%	82,920	-77.1%	0.69%	-79.5%
AAPL	Sell	APPLE INC COMcs	$2,420,000	+7.6%	24,024	-0.7%	0.66%	+22.7%
WWE	Sell	WORLD WRESTLING ENTMT INC CL Acs	$2,091,000	-62.4%	151,880	-67.4%	0.57%	-57.2%
TDC	Buy	TERADATA CORP DEL COMcs	$1,898,000	+91.1%	45,270	+83.3%	0.51%	+117.8%
LH	Sell	LABORATORY CORP AMER HLDGS COMcs	$1,482,000	-2.0%	14,570	-1.3%	0.40%	+11.7%
DGX	Sell	QUEST DIAGNOSTICS INC COMcs	$1,397,000	+2.0%	23,020	-1.3%	0.38%	+16.3%
NTRS	Sell	NORTHERN TR CORP COMcs	$1,311,000	+4.5%	19,270	-1.3%	0.36%	+19.1%
BWINB	New	BALDWIN & LYONS INC CL Bcs	$1,239,000	–	50,157	–	0.34%	–
NEM	Sell	NEWMONT MINING CORP COMcs	$927,000	-10.6%	40,220	-1.3%	0.25%	+2.0%
THOR	New	THORATEC CORP COM NEWcs	$909,000	–	34,000	–	0.25%	–
DG	New	DOLLAR GEN CORP NEW COMcs	$611,000	–	10,000	–	0.16%	–
TRK	Exit	SPEEDWAY MOTORSPORTS INC COMcs	$0	–	-75,615	–	-0.33%	–
RGLD	Exit	ROYAL GOLD INC COMcs	$0	–	-75,100	–	-1.36%	–
AAN	Exit	AARONS INC COM PAR $0.50cs	$0	–	-293,479	–	-2.48%	–

Q2 2014

			Value		Shares		↓ Weighting
DOX	New	AMDOCS LTD SHScs	$37,285,000	–	804,766	–	8.86%	–
BIO	New	BIO RAD LABS INC CL Acs	$35,266,000	–	294,594	–	8.38%	–
TTEK	New	TETRA TECH INC NEW COMcs	$33,959,000	–	1,234,874	–	8.07%	–
NFX	New	NEWFIELD EXPL CO COMcs	$22,307,000	–	504,675	–	5.30%	–
IM	New	INGRAM MICRO INC CL Acs	$20,219,000	–	692,182	–	4.80%	–
WU	New	WESTERN UN CO COMcs	$17,614,000	–	1,015,820	–	4.18%	–
BRKB	New	BERKSHIRE HATHAWAY INC DEL CLcs	$16,559,000	–	130,840	–	3.93%	–
ISRG	New	INTUITIVE SURGICAL INC COM NEWcs	$16,093,000	–	39,080	–	3.82%	–
TDS	New	TELEPHONE & DATA SYS INC COM Ncs	$14,993,000	–	574,238	–	3.56%	–
FCN	New	FTI CONSULTING INC COMcs	$14,877,000	–	393,362	–	3.53%	–
AEO	New	AMERICAN EAGLE OUTFITTERS NEWcs	$14,611,000	–	1,302,255	–	3.47%	–
MAT	New	MATTEL INC COMcs	$14,116,000	–	362,240	–	3.35%	–
BBG	New	BARRETT BILL CORP COMcs	$13,476,000	–	503,225	–	3.20%	–
SPLS	New	STAPLES INC COMcs	$13,391,000	–	1,235,350	–	3.18%	–
OAK	New	OAKTREE CAP GROUP LLC UNIT CLcs	$13,260,000	–	265,248	–	3.15%	–
BK	New	BANK NEW YORK MELLON CORP COMcs	$13,174,000	–	351,485	–	3.13%	–
COH	New	COACH INC COMcs	$13,063,000	–	382,074	–	3.10%	–
AHL	New	ASPEN INSURANCE HOLDINGS LTD Scs	$10,960,000	–	241,310	–	2.60%	–
AAN	New	AARONS INC COM PAR $0.50cs	$10,460,000	–	293,479	–	2.48%	–
CSCO	New	CISCO SYS INC COMcs	$9,705,000	–	390,560	–	2.30%	–
MSFT	New	MICROSOFT CORP COMcs	$8,335,000	–	199,870	–	1.98%	–
CSGS	New	CSG SYS INTL INC COMcs	$6,542,000	–	250,563	–	1.55%	–
PAAS	New	PAN AMERICAN SILVER CORP COMcs	$6,230,000	–	405,885	–	1.48%	–
HWKN	New	HAWKINS INC COMcs	$5,772,000	–	155,412	–	1.37%	–
RGLD	New	ROYAL GOLD INC COMcs	$5,717,000	–	75,100	–	1.36%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTDcs	$5,686,000	–	84,830	–	1.35%	–
WWE	New	WORLD WRESTLING ENTMT INC CL Acs	$5,559,000	–	465,937	–	1.32%	–
AUQ	New	AURICO GOLD INC COMcs	$5,161,000	–	1,211,390	–	1.23%	–
GPN	New	GLOBAL PMTS INC COMcs	$3,912,000	–	53,705	–	0.93%	–
AAPL	New	APPLE INC COMcs	$2,249,000	–	24,199	–	0.53%	–
LH	New	LABORATORY CORP AMER HLDGS COMcs	$1,512,000	–	14,765	–	0.36%	–
TRK	New	SPEEDWAY MOTORSPORTS INC COMcs	$1,380,000	–	75,615	–	0.33%	–
DGX	New	QUEST DIAGNOSTICS INC COMcs	$1,369,000	–	23,330	–	0.32%	–
NOG	New	NORTHERN OIL & GAS INC NEV COMcs	$1,355,000	–	83,200	–	0.32%	–
NTRS	New	NORTHERN TR CORP COMcs	$1,254,000	–	19,525	–	0.30%	–
NEM	New	NEWMONT MINING CORP COMcs	$1,037,000	–	40,750	–	0.25%	–
TDC	New	TERADATA CORP DEL COMcs	$993,000	–	24,700	–	0.24%	–
PATR	New	PATRIOT TRANSN HLDG INC COMcs	$857,000	–	24,506	–	0.20%	–
PBY	New	PEP BOYS MANNY MOE & JACK COMcs	$378,000	–	33,000	–	0.09%	–
RYN	New	RAYONIER INC COMcs	$271,000	–	7,629	–	0.06%	–

Q4 2013

			Value		Shares		↓ Weighting
PBY	Exit	PEP BOYS MANNY MOE & JACK COMcs	$0	–	-33,000	–	-0.08%	–
RYN	Exit	RAYONIER INC COMcs	$0	–	-7,629	–	-0.08%	–
NTRS	Exit	NORTHERN TR CORP COMcs	$0	–	-7,910	–	-0.08%	–
PAAS	Exit	PAN AMERICAN SILVER CORP COMcs	$0	–	-44,750	–	-0.09%	–
GENC	Exit	GENCOR INDS INC COMcs	$0	–	-65,000	–	-0.10%	–
NEM	Exit	NEWMONT MINING CORP COMcs	$0	–	-25,700	–	-0.14%	–
WRESQ	Exit	WARREN RES INC COMcs	$0	–	-259,400	–	-0.14%	–
PATR	Exit	PATRIOT TRANSN HLDG INC COMcs	$0	–	-24,506	–	-0.16%	–
SFYWQ	Exit	SWIFT ENERGY CO COMcs	$0	–	-100,000	–	-0.21%	–
BWINB	Exit	BALDWIN & LYONS INC CL Bcs	$0	–	-110,743	–	-0.50%	–
CDE	Exit	COEUR MNG INC COM NEWcs	$0	–	-306,740	–	-0.69%	–
AUQ	Exit	AURICO GOLD INC COMcs	$0	–	-1,066,090	–	-0.76%	–
PTRY	Exit	PANTRY INC COMcs	$0	–	-410,058	–	-0.85%	–
MSFT	Exit	MICROSOFT CORP COMcs	$0	–	-199,780	–	-1.24%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTDcs	$0	–	-119,930	–	-1.27%	–
COH	Exit	COACH INC COMcs	$0	–	-152,419	–	-1.55%	–
RGLD	Exit	ROYAL GOLD INC COMcs	$0	–	-172,340	–	-1.56%	–
TRK	Exit	SPEEDWAY MOTORSPORTS INC COMcs	$0	–	-507,979	–	-1.70%	–
WU	Exit	WESTERN UN CO COMcs	$0	–	-649,830	–	-2.26%	–
TECD	Exit	TECH DATA CORP COMcs	$0	–	-249,219	–	-2.32%	–
MANT	Exit	MANTECH INTL CORP CL Acs	$0	–	-507,450	–	-2.72%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DEL CLcs	$0	–	-130,640	–	-2.77%	–
AHL	Exit	ASPEN INSURANCE HOLDINGS LTD Scs	$0	–	-413,056	–	-2.80%	–
TTEK	Exit	TETRA TECH INC NEW COMcs	$0	–	-592,450	–	-2.86%	–
BK	Exit	BANK NEW YORK MELLON CORP COMcs	$0	–	-515,605	–	-2.90%	–
CSGS	Exit	CSG SYS INTL INC COMcs	$0	–	-621,649	–	-2.90%	–
TDS	Exit	TELEPHONE & DATA SYS INC COM Ncs	$0	–	-637,011	–	-3.51%	–
AAN	Exit	AARONS INC COM PAR $0.50cs	$0	–	-804,909	–	-4.16%	–
EPIQ	Exit	EPIQ SYS INC COMcs	$0	–	-2,022,300	–	-4.98%	–
BIG	Exit	BIG LOTS INC COMcs	$0	–	-734,245	–	-5.08%	–
IM	Exit	INGRAM MICRO INC CL Acs	$0	–	-1,301,504	–	-5.60%	–
GPN	Exit	GLOBAL PMTS INC COMcs	$0	–	-592,082	–	-5.64%	–
DOX	Exit	AMDOCS LTD ORDcs	$0	–	-825,846	–	-5.64%	–
BBG	Exit	BARRETT BILL CORP COMcs	$0	–	-1,228,833	–	-5.76%	–
WWE	Exit	WORLD WRESTLING ENTMT INC CL Acs	$0	–	-3,255,239	–	-6.18%	–
NFX	Exit	NEWFIELD EXPL CO COMcs	$0	–	-1,228,730	–	-6.27%	–
BIO	Exit	BIO RAD LABS INC CL Acs	$0	–	-294,257	–	-6.45%	–
FCN	Exit	FTI CONSULTING INC COMcs	$0	–	-1,133,536	–	-7.99%	–

Q3 2013

			Value		Shares		↓ Weighting
FCN	Buy	FTI CONSULTING INC COMcs	$42,848,000	+16.1%	1,133,536	+1.1%	7.99%	+23.8%
BIO	Sell	BIO RAD LABS INC CL Acs	$34,593,000	-2.4%	294,257	-6.8%	6.45%	+4.0%
NFX	Buy	NEWFIELD EXPL CO COMcs	$33,630,000	+21.5%	1,228,730	+6.0%	6.27%	+29.4%
WWE	Buy	WORLD WRESTLING ENTMT INC CL Acs	$33,106,000	-0.2%	3,255,239	+1.1%	6.18%	+6.3%
BBG	Sell	BARRETT BILL CORP COMcs	$30,856,000	-3.3%	1,228,833	-22.1%	5.76%	+3.1%
DOX	Sell	AMDOCS LTD ORDcs	$30,259,000	-6.2%	825,846	-5.0%	5.64%	+0.0%
GPN	Sell	GLOBAL PMTS INC COMcs	$30,244,000	+5.0%	592,082	-4.8%	5.64%	+11.9%
IM	Sell	INGRAM MICRO INC CL Acs	$30,000,000	-10.0%	1,301,504	-25.9%	5.60%	-4.1%
BIG	Sell	BIG LOTS INC COMcs	$27,233,000	+16.6%	734,245	-0.9%	5.08%	+24.3%
EPIQ	Sell	EPIQ SYS INC COMcs	$26,674,000	-8.9%	2,022,300	-7.0%	4.98%	-2.9%
AAN	Buy	AARONS INC COM PAR $0.50cs	$22,296,000	+12.4%	804,909	+13.7%	4.16%	+19.9%
TDS	Sell	TELEPHONE & DATA SYS INC COM Ncs	$18,824,000	+19.8%	637,011	-0.1%	3.51%	+27.7%
CSGS	Sell	CSG SYS INTL INC COMcs	$15,572,000	-21.8%	621,649	-32.0%	2.90%	-16.6%
BK	Sell	BANK NEW YORK MELLON CORP COMcs	$15,566,000	+1.4%	515,605	-5.8%	2.90%	+8.0%
TTEK	New	TETRA TECH INC NEW COMcs	$15,339,000	–	592,450	–	2.86%	–
AHL	Sell	ASPEN INSURANCE HOLDINGS LTD Scs	$14,990,000	-13.5%	413,056	-11.6%	2.80%	-7.8%
BRKB	Sell	BERKSHIRE HATHAWAY INC DEL CLcs	$14,829,000	+1.2%	130,640	-0.2%	2.77%	+7.9%
MANT	Sell	MANTECH INTL CORP CL Acs	$14,594,000	-9.9%	507,450	-18.2%	2.72%	-4.0%
WU	Sell	WESTERN UN CO COMcs	$12,126,000	-20.2%	649,830	-26.9%	2.26%	-15.0%
TRK	Sell	SPEEDWAY MOTORSPORTS INC COMcs	$9,093,000	-0.6%	507,979	-3.4%	1.70%	+5.9%
RGLD	Buy	ROYAL GOLD INC COMcs	$8,386,000	+123.9%	172,340	+93.7%	1.56%	+138.6%
COH	Buy	COACH INC COMcs	$8,311,000	-4.4%	152,419	+0.1%	1.55%	+1.9%
CHKP	Buy	CHECK POINT SOFTWARE TECH LTDcs	$6,783,000	+67.2%	119,930	+46.9%	1.27%	+78.3%
MSFT	Sell	MICROSOFT CORP COMcs	$6,649,000	-48.6%	199,780	-46.6%	1.24%	-45.2%
PTRY	Sell	PANTRY INC COMcs	$4,543,000	-9.2%	410,058	-0.2%	0.85%	-3.2%
AUQ	New	AURICO GOLD INC COMcs	$4,062,000	–	1,066,090	–	0.76%	–
CDE	New	COEUR MNG INC COM NEWcs	$3,696,000	–	306,740	–	0.69%	–
BWINB	Sell	BALDWIN & LYONS INC CL Bcs	$2,700,000	+0.1%	110,743	-0.3%	0.50%	+6.8%
SFYWQ	Sell	SWIFT ENERGY CO COMcs	$1,142,000	-84.4%	100,000	-83.6%	0.21%	-83.4%
WRESQ	New	WARREN RES INC COMcs	$755,000	–	259,400	–	0.14%	–
NEM	Sell	NEWMONT MINING CORP COMcs	$722,000	-90.5%	25,700	-89.9%	0.14%	-89.9%
PAAS	Sell	PAN AMERICAN SILVER CORP COMcs	$473,000	-97.6%	44,750	-97.3%	0.09%	-97.4%
SPLS	Exit	STAPLES INC COMcs	$0	–	-14,740	–	-0.04%	–
TLAB	Exit	TELLABS INC COMcs	$0	–	-327,575	–	-0.11%	–
SAI	Exit	SAIC INC COMcs	$0	–	-969,960	–	-2.36%	–
DELL	Exit	DELL INC COMcs	$0	–	-1,186,405	–	-2.77%	–

Q2 2013

			Value		Shares		↓ Weighting
FCN	New	FTI CONSULTING INC COMcs	$36,894,000	–	1,121,725	–	6.46%	–
BIO	New	BIO RAD LABS INC CL Acs	$35,440,000	–	315,865	–	6.20%	–
IM	New	INGRAM MICRO INC CL Acs	$33,342,000	–	1,755,764	–	5.84%	–
WWE	New	WORLD WRESTLING ENTMT INC CL Acs	$33,188,000	–	3,218,974	–	5.81%	–
DOX	New	AMDOCS LTD ORDcs	$32,243,000	–	869,326	–	5.64%	–
BBG	New	BARRETT BILL CORP COMcs	$31,909,000	–	1,578,084	–	5.58%	–
EPIQ	New	EPIQ SYS INC COMcs	$29,290,000	–	2,174,450	–	5.13%	–
GPN	New	GLOBAL PMTS INC COMcs	$28,810,000	–	621,972	–	5.04%	–
NFX	New	NEWFIELD EXPL CO COMcs	$27,689,000	–	1,159,030	–	4.85%	–
BIG	New	BIG LOTS INC COMcs	$23,355,000	–	740,713	–	4.09%	–
CSGS	New	CSG SYS INTL INC COMcs	$19,902,000	–	913,980	–	3.48%	–
AAN	New	AARONS INC COM PAR $0.50cs	$19,829,000	–	707,909	–	3.47%	–
PAAS	New	PAN AMERICAN SILVER CORP COMcs	$19,322,000	–	1,659,940	–	3.38%	–
AHL	New	ASPEN INSURANCE HOLDINGS LTD Scs	$17,325,000	–	467,116	–	3.03%	–
MANT	New	MANTECH INTL CORP CL Acs	$16,194,000	–	619,984	–	2.84%	–
DELL	New	DELL INC COMcs	$15,809,000	–	1,186,405	–	2.77%	–
TDS	New	TELEPHONE & DATA SYS INC COM Ncs	$15,718,000	–	637,636	–	2.75%	–
BK	New	BANK NEW YORK MELLON CORP COMcs	$15,356,000	–	547,445	–	2.69%	–
WU	New	WESTERN UN CO COMcs	$15,203,000	–	888,550	–	2.66%	–
BRKB	New	BERKSHIRE HATHAWAY INC DEL CLcs	$14,650,000	–	130,895	–	2.56%	–
SAI	New	SAIC INC COMcs	$13,512,000	–	969,960	–	2.36%	–
MSFT	New	MICROSOFT CORP COMcs	$12,931,000	–	374,330	–	2.26%	–
TECD	New	TECH DATA CORP COMcs	$11,736,000	–	249,219	–	2.05%	–
TRK	New	SPEEDWAY MOTORSPORTS INC COMcs	$9,150,000	–	525,882	–	1.60%	–
COH	New	COACH INC COMcs	$8,697,000	–	152,339	–	1.52%	–
NEM	New	NEWMONT MINING CORP COMcs	$7,632,000	–	254,820	–	1.34%	–
SFYWQ	New	SWIFT ENERGY CO COMcs	$7,317,000	–	610,300	–	1.28%	–
PTRY	New	PANTRY INC COMcs	$5,004,000	–	410,818	–	0.88%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTDcs	$4,056,000	–	81,650	–	0.71%	–
RGLD	New	ROYAL GOLD INC COMcs	$3,745,000	–	88,990	–	0.66%	–
BWINB	New	BALDWIN & LYONS INC CL Bcs	$2,698,000	–	111,116	–	0.47%	–
PATR	New	PATRIOT TRANSN HLDG INC COMcs	$736,000	–	24,506	–	0.13%	–
TLAB	New	TELLABS INC COMcs	$647,000	–	327,575	–	0.11%	–
GENC	New	GENCOR INDS INC COMcs	$462,000	–	65,000	–	0.08%	–
NTRS	New	NORTHERN TR CORP COMcs	$458,000	–	7,910	–	0.08%	–
RYN	New	RAYONIER INC COMcs	$423,000	–	7,629	–	0.07%	–
PBY	New	PEP BOYS MANNY MOE & JACK COMcs	$382,000	–	33,000	–	0.07%	–
SPLS	New	STAPLES INC COMcs	$234,000	–	14,740	–	0.04%	–

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