VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. Activity Q4 2013-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
MSFT	Buy	MICROSOFT CORP COM	$304,526,350	+8.2%	964,454	+16.7%	5.63%	+11.1%
GOOGL	Buy	ALPHABET INC CAP STK CL Acl a	$283,956,909	+26.3%	2,169,929	+15.5%	5.25%	+29.6%
KKR	Buy	KKR & CO INC COM	$214,815,524	+51.0%	3,487,265	+37.3%	3.97%	+55.0%
BKNG	Buy	BOOKING HOLDINGS INC COM	$176,821,358	+27.0%	57,336	+11.2%	3.27%	+30.3%
MRK	Buy	MERCK & CO INC COM	$152,416,445	+2.8%	1,480,490	+15.3%	2.82%	+5.6%
NXPI	Buy	NXP SEMICONDUCTORS N V COM	$141,123,528	+20.6%	705,900	+23.5%	2.61%	+23.8%
FB	Buy	META PLATFORMS INC CL Acl a	$133,557,125	+24.9%	444,879	+19.4%	2.47%	+28.2%
BRKB	Buy	BERKSHIRE HATHAWAY INC DEL CL B NEWcl b	$126,489,126	+28.6%	361,088	+25.2%	2.34%	+32.0%
JBL	Sell	JABIL INC COM	$105,638,082	-13.1%	832,517	-26.1%	1.95%	-10.8%
MDT	Buy	MEDTRONIC PLC SHS	$104,537,647	-1.7%	1,334,069	+10.5%	1.93%	+0.8%
PTC	Buy	PTC INC COM	$94,798,088	+14.2%	669,100	+14.7%	1.75%	+17.3%
MKL	Buy	MARKEL GROUP INC COM	$92,825,770	+34.1%	63,040	+26.0%	1.72%	+37.7%
BC	Sell	BRUNSWICK CORP COM	$89,273,002	-25.5%	1,130,038	-18.3%	1.65%	-23.5%
C	Buy	CITIGROUP INC COM NEW	$85,472,500	+4.8%	2,078,106	+17.3%	1.58%	+7.6%
ADI	Buy	ANALOG DEVICES INC COM	$85,365,655	+10.5%	487,553	+23.0%	1.58%	+13.4%
JNJ	Buy	JOHNSON & JOHNSON COM	$77,348,721	+14.6%	496,621	+21.8%	1.43%	+17.6%
BRKA	Buy	BERKSHIRE HATHAWAY INC DEL CL Acl a	$73,875,303	+16.9%	139	+13.9%	1.37%	+20.0%
V	Buy	VISA INC COM CL Acl a	$70,470,464	+15.0%	306,380	+18.8%	1.30%	+18.0%
AMZN	Buy	AMAZON COM INC COM	$70,385,200	+28.4%	553,691	+31.6%	1.30%	+31.8%
CSCO	Buy	CISCO SYS INC COM	$68,639,693	+4.2%	1,276,780	+0.3%	1.27%	+7.0%
THR	Sell	THERMON GROUP HLDGS INC COM	$64,251,259	-0.5%	2,338,961	-3.7%	1.19%	+2.1%
KMX	Buy	CARMAX INC COM	$63,788,699	+5.0%	901,862	+24.2%	1.18%	+7.8%
TSM	Buy	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADSsponsored ads	$59,650,333	+2.7%	686,425	+19.3%	1.10%	+5.4%
AMAT	Sell	APPLIED MATLS INC COM	$51,909,197	-16.8%	374,931	-13.1%	0.96%	-14.5%
SYY	Buy	SYSCO CORP COM	$51,128,843	-8.5%	774,093	+2.8%	0.94%	-6.2%
EHC	Sell	ENCOMPASS HEALTH CORP COM	$48,820,417	-26.3%	726,927	-25.7%	0.90%	-24.3%
TDC	Buy	TERADATA CORP DEL COM	$48,771,156	-3.4%	1,083,322	+14.6%	0.90%	-0.9%
PEAK	Buy	HEALTHPEAK PROPERTIES INC COM	$48,663,621	+12.1%	2,650,524	+22.7%	0.90%	+15.1%
BLK	Sell	BLACKROCK INC COM	$48,428,566	-7.5%	74,910	-1.1%	0.90%	-5.1%
WFG	Sell	WEST FRASER TIMBER CO LTD COM	$46,940,234	-33.7%	476,019	-23.5%	0.87%	-32.0%
MA	Sell	MASTERCARD INCORPORATED CL Acl a	$45,693,557	-19.6%	115,414	-20.2%	0.84%	-17.5%
	Sell	QUIDELORTHO CORP COM	$45,033,031	-18.7%	616,553	-7.8%	0.83%	-16.5%
FSLR	Sell	FIRST SOLAR INC COM	$44,739,908	-27.6%	276,873	-14.8%	0.83%	-25.7%
GNTX	Sell	GENTEX CORP COM	$43,356,849	-13.1%	1,332,417	-21.9%	0.80%	-10.8%
AAPL	Buy	APPLE INC COM	$43,270,759	+6.2%	252,735	+20.4%	0.80%	+9.0%
MHK	Buy	MOHAWK INDS INC COM	$40,950,248	+4.5%	477,220	+25.6%	0.76%	+7.2%
MWA	Sell	MUELLER WTR PRODS INC COM SER A	$40,257,516	-38.3%	3,174,883	-21.0%	0.74%	-36.7%
AVTR	Buy	AVANTOR INC COM	$39,698,467	+26.8%	1,883,229	+23.6%	0.73%	+30.1%
RY	Sell	ROYAL BK CDA COM	$39,324,004	-23.0%	331,289	-17.8%	0.73%	-21.0%
TRIP	Sell	TRIPADVISOR INC COM	$39,061,071	-23.9%	2,355,915	-24.3%	0.72%	-21.9%
AMED	Sell	AMEDISYS INC COM	$38,970,123	-13.0%	417,239	-14.8%	0.72%	-10.7%
WTFC	Sell	WINTRUST FINL CORP COM	$38,278,198	-21.5%	506,996	-24.5%	0.71%	-19.5%
TXN	Sell	TEXAS INSTRS INC COM	$38,124,079	-14.1%	239,759	-2.7%	0.70%	-11.8%
AMH	Sell	AMERICAN HOMES 4 RENT CL Acl a	$36,645,860	-26.2%	1,087,737	-22.3%	0.68%	-24.2%
MMC	Sell	MARSH & MCLENNAN COS INC COM	$36,519,141	+0.8%	191,903	-0.4%	0.68%	+3.4%
GILD	Buy	GILEAD SCIENCES INC COM	$35,868,157	+73.1%	478,625	+78.0%	0.66%	+77.7%
STRA	Sell	STRATEGIC ED INC COM	$35,502,122	-14.7%	471,789	-23.1%	0.66%	-12.4%
EQIX	Buy	EQUINIX INC COM	$35,368,136	+187.4%	48,699	+210.2%	0.65%	+194.6%
LYB	Sell	LYONDELLBASELL INDUSTRIES N SHS - A -	$35,361,169	+1.2%	373,402	-1.9%	0.65%	+4.0%
ENS	Sell	ENERSYS COM	$35,305,662	-60.5%	372,934	-54.7%	0.65%	-59.4%
TMO	Buy	THERMO FISHER SCIENTIFIC INC COM	$34,907,508	+1.0%	68,964	+4.1%	0.65%	+3.7%
NKE	Buy	NIKE INC CL Bcl b	$34,106,028	-12.3%	356,683	+1.2%	0.63%	-10.0%
DLTR	Buy	DOLLAR TREE INC COM	$33,727,192	-10.3%	316,836	+20.9%	0.62%	-7.8%
IQV	Buy	IQVIA HLDGS INC COM	$33,359,159	-11.4%	169,551	+1.2%	0.62%	-9.1%
DE	Buy	DEERE & CO COM	$33,168,683	-6.2%	87,892	+0.7%	0.61%	-3.8%
TROX	Sell	TRONOX HOLDINGS PLC SHS	$33,059,994	-5.9%	2,459,821	-11.0%	0.61%	-3.5%
CAH	Buy	CARDINAL HEALTH INC COM	$32,734,005	+11.2%	377,033	+21.2%	0.60%	+14.2%
PLD	Buy	PROLOGIS INC. COM	$32,544,940	-5.8%	290,036	+2.9%	0.60%	-3.2%
CRM	Buy	SALESFORCE INC COM	$32,396,741	-2.9%	159,763	+1.2%	0.60%	-0.3%
CBT	Sell	CABOT CORP COM	$30,551,464	-22.3%	441,049	-24.9%	0.56%	-20.2%
ALV	Sell	AUTOLIV INC COM	$30,265,776	+3.1%	313,700	-9.1%	0.56%	+5.9%
FERG	Sell	FERGUSON PLC NEW SHS	$29,946,040	-45.9%	182,076	-48.2%	0.55%	-44.4%
SPGI	Buy	S&P GLOBAL INC COM	$29,834,630	-7.8%	81,647	+1.2%	0.55%	-5.3%
ARGO	Sell	ARGO GROUP INTL HLDGS LTD COM	$29,022,563	-15.7%	972,606	-16.4%	0.54%	-13.4%
KMI	Sell	KINDER MORGAN INC DEL COM	$27,680,758	-5.3%	1,669,527	-1.7%	0.51%	-2.8%
NXST	Sell	NEXSTAR MEDIA GROUP INC COMMON STOCK	$27,645,607	-19.4%	192,827	-6.4%	0.51%	-17.3%
EL	Buy	LAUDER ESTEE COS INC CL Acl a	$26,697,662	-25.5%	184,695	+1.2%	0.49%	-23.5%
RNR	Sell	RENAISSANCERE HLDGS LTD COM	$26,148,992	-12.9%	132,119	-17.9%	0.48%	-10.5%
PRU	Sell	PRUDENTIAL FINL INC COM	$25,945,868	+1.3%	273,431	-5.8%	0.48%	+3.9%
SNBR	Sell	SLEEP NUMBER CORP COM	$25,840,180	-33.6%	1,050,841	-26.3%	0.48%	-31.8%
MSM	Sell	MSC INDL DIRECT INC CL Acl a	$25,093,912	-4.8%	255,669	-7.6%	0.46%	-2.3%
CME	Buy	CME GROUP INC COM	$24,844,899	+9.3%	124,088	+1.2%	0.46%	+12.2%
WMB	Buy	WILLIAMS COS INC COM	$24,547,511	+4.1%	728,629	+0.9%	0.45%	+6.8%
LXFR	Buy	LUXFER HLDGS PLC SHS	$24,491,849	-7.1%	1,876,770	+1.3%	0.45%	-4.6%
SPG	Sell	SIMON PPTY GROUP INC NEW COM	$22,588,857	-12.4%	209,098	-6.4%	0.42%	-10.1%
LITE	Buy	LUMENTUM HLDGS INC COM	$22,561,175	+6.8%	499,362	+34.2%	0.42%	+9.7%
PEG	Buy	PUBLIC SVC ENTERPRISE GRP IN COM	$22,282,257	-5.1%	391,535	+4.4%	0.41%	-2.6%
NEE	Buy	NEXTERA ENERGY INC COM	$21,775,585	-17.1%	380,094	+7.3%	0.40%	-14.8%
	Sell	ENHABIT INC COM	$21,032,393	-5.7%	1,869,546	-3.7%	0.39%	-3.2%
EXR	Buy	EXTRA SPACE STORAGE INC COM	$20,833,827	+10.0%	171,359	+34.7%	0.38%	+12.9%
DRH	Sell	DIAMONDROCK HOSPITALITY CO COM	$19,620,574	-16.9%	2,443,409	-17.1%	0.36%	-14.6%
XYL	Buy	XYLEM INC COM	$19,465,036	-2.0%	213,831	+21.3%	0.36%	+0.6%
ANF	Sell	ABERCROMBIE & FITCH CO CL Acl a	$19,137,051	-46.8%	339,490	-64.5%	0.35%	-45.4%
JPM	Sell	JPMORGAN CHASE & CO COM	$18,890,160	-9.2%	130,259	-8.9%	0.35%	-6.9%
ARE	Buy	ALEXANDRIA REAL ESTATE EQ IN COM	$18,001,484	-6.2%	179,835	+6.4%	0.33%	-3.8%
UNH	Buy	UNITEDHEALTH GROUP INC COM	$17,522,115	+61.0%	34,753	+53.4%	0.32%	+65.3%
VICI	Buy	VICI PPTYS INC COM	$17,547,300	+4.6%	603,000	+12.9%	0.32%	+7.3%
SUI	Buy	SUN CMNTYS INC COM	$17,414,086	-0.4%	147,153	+9.9%	0.32%	+2.2%
	Buy	NOBLE CORP PLC ORD SHS A	$16,875,972	+854.5%	333,188	+678.5%	0.31%	+875.0%
REXR	Buy	REXFORD INDL RLTY INC COM	$15,251,124	-2.9%	309,040	+2.8%	0.28%	-0.4%
PEP	Sell	PEPSICO INC COM	$14,913,601	-42.0%	88,017	-36.6%	0.28%	-40.4%
DOC	Sell	PHYSICIANS RLTY TR COM	$14,489,424	-43.9%	1,188,632	-35.6%	0.27%	-42.4%
INVH	Sell	INVITATION HOMES INC COM	$14,400,316	-26.6%	454,412	-20.3%	0.27%	-24.6%
	New	KENVUE INC COM	$14,243,808	–	709,353	–	0.26%	–
CHK	Sell	CHESAPEAKE ENERGY CORP COM	$13,744,890	+1.8%	159,398	-1.2%	0.25%	+4.5%
AVB	Sell	AVALONBAY CMNTYS INC COM	$13,011,709	-12.2%	75,764	-3.2%	0.24%	-9.7%
STAG	Sell	STAG INDL INC COM	$12,544,385	-15.1%	363,500	-11.7%	0.23%	-12.8%
OMC	Buy	OMNICOM GROUP INC COM	$12,474,357	-20.3%	167,486	+1.9%	0.23%	-18.1%
LXP	Buy	LXP INDUSTRIAL TRUST COM	$12,410,160	-4.6%	1,394,400	+4.5%	0.23%	-2.1%
HIW	Buy	HIGHWOODS PPTYS INC COM	$12,230,036	-5.3%	593,403	+9.8%	0.23%	-3.0%
IRT	Buy	INDEPENDENCE RLTY TR INC COM	$12,012,220	-3.1%	853,747	+25.5%	0.22%	-0.4%
XOM	Buy	EXXON MOBIL CORP COM	$11,901,330	+28.3%	101,219	+17.1%	0.22%	+31.7%
IFF	Buy	INTERNATIONAL FLAVORS&FRAGRA COM	$11,739,828	-13.4%	172,214	+1.1%	0.22%	-11.1%
PG	New	PROCTER AND GAMBLE CO COM	$11,729,915	–	80,419	–	0.22%	–
	Buy	TRICON RESIDENTIAL INC COM NPV	$11,510,397	-13.0%	1,555,459	+3.6%	0.21%	-10.5%
MCD	Sell	MCDONALDS CORP COM	$10,877,437	-47.1%	41,290	-40.1%	0.20%	-45.8%
PPL	Sell	PPL CORP COM	$10,587,393	-11.8%	449,380	-1.0%	0.20%	-9.3%
UNP	Buy	UNION PAC CORP COM	$10,558,216	+8.4%	51,850	+8.9%	0.20%	+10.8%
SIGA	Sell	SIGA TECHNOLOGIES INC COM	$10,136,490	-8.1%	1,930,760	-11.6%	0.19%	-6.0%
HST	Buy	HOST HOTELS & RESORTS INC COM	$9,818,770	-0.1%	611,000	+4.6%	0.18%	+2.8%
HBAN	Sell	HUNTINGTON BANCSHARES INC COM	$9,799,504	-69.3%	942,260	-68.1%	0.18%	-68.5%
DIS	Buy	DISNEY WALT CO COM	$9,700,793	-8.8%	119,689	+0.4%	0.18%	-6.8%
	Sell	CANADIAN PACIFIC KANSAS CITY COM	$9,454,096	-11.0%	93,642	-5.7%	0.18%	-8.4%
AMT	Buy	AMERICAN TOWER CORP NEW COM	$8,431,352	-7.1%	51,270	+9.6%	0.16%	-4.3%
SHO	Sell	SUNSTONE HOTEL INVS INC NEW COM	$7,840,508	-28.7%	838,557	-22.8%	0.14%	-26.8%
HD	Buy	HOME DEPOT INC COM	$7,778,505	-2.3%	25,743	+0.4%	0.14%	+0.7%
NVDA	Sell	NVIDIA CORPORATION COM	$7,677,574	+0.5%	17,650	-2.3%	0.14%	+2.9%
SRE	Buy	SEMPRA COM	$7,445,543	+2.5%	109,445	+119.4%	0.14%	+5.3%
REG	Buy	REGENCY CTRS CORP COM	$6,722,664	-0.9%	113,100	+3.0%	0.12%	+1.6%
ABT	Buy	ABBOTT LABS COM	$6,659,793	-10.8%	68,764	+0.4%	0.12%	-8.2%
PRGS	Sell	PROGRESS SOFTWARE CORP COM	$5,012,241	-25.9%	95,326	-18.1%	0.09%	-23.8%
TDW	Sell	TIDEWATER INC NEW COM	$4,781,021	+15.8%	67,272	-9.7%	0.09%	+18.9%
TRP	New	TC ENERGY CORP COM	$4,170,502	–	89,285	–	0.08%	–
LRCX	Buy	LAM RESEARCH CORP COM	$4,144,203	-1.3%	6,612	+1.2%	0.08%	+1.3%
REGN	Buy	REGENERON PHARMACEUTICALS COM	$3,979,012	+24.9%	4,835	+9.1%	0.07%	+29.8%
LII	Buy	LENNOX INTL INC COM	$3,860,851	+16.9%	10,311	+1.8%	0.07%	+20.3%
	Buy	HEALTHCARE RLTY TR CL A COM	$3,733,515	+21.0%	244,500	+49.4%	0.07%	+23.2%
MPC	Buy	MARATHON PETE CORP COM	$3,710,857	+34.5%	24,520	+3.7%	0.07%	+38.0%
CSX	Sell	CSX CORP COM	$3,699,625	-10.4%	120,313	-0.6%	0.07%	-8.1%
ABBV	Buy	ABBVIE INC COM	$3,292,884	+1175.6%	22,091	+1053.0%	0.06%	+1120.0%
EA	Buy	ELECTRONIC ARTS INC COM	$3,261,034	-6.9%	27,085	+0.3%	0.06%	-4.8%
PCAR	Sell	PACCAR INC COM	$3,264,938	-0.2%	38,402	-1.8%	0.06%	+1.7%
ANET	Sell	ARISTA NETWORKS INC COM	$2,886,230	-3.0%	15,692	-14.6%	0.05%	-1.9%
CUBE	Sell	CUBESMART COM	$2,782,079	-44.9%	72,963	-35.5%	0.05%	-44.0%
SNA	Sell	SNAP ON INC COM	$2,756,178	-30.3%	10,806	-21.2%	0.05%	-28.2%
KO	Sell	COCA COLA CO COM	$2,742,740	-20.3%	48,995	-14.2%	0.05%	-17.7%
VRTX	Sell	VERTEX PHARMACEUTICALS INC COM	$2,691,160	-15.2%	7,739	-14.2%	0.05%	-12.3%
FSV	Sell	FIRSTSERVICE CORP NEW COM	$2,720,955	-15.4%	10,187	-14.5%	0.05%	-13.8%
HSY	Buy	HERSHEY CO COM	$2,657,663	-13.0%	13,283	+8.6%	0.05%	-10.9%
	Sell	LINDE PLC SHS	$2,591,184	-5.4%	6,959	-3.2%	0.05%	-2.0%
VLO	Buy	VALERO ENERGY CORP COM	$2,514,644	+25.5%	17,745	+3.9%	0.05%	+30.6%
ALGN	Buy	ALIGN TECHNOLOGY INC COM	$2,561,024	+2.2%	8,388	+18.4%	0.05%	+4.4%
LULU	Sell	LULULEMON ATHLETICA INC COM	$2,487,185	-12.6%	6,450	-14.3%	0.05%	-9.8%
TTWO	New	TAKE-TWO INTERACTIVE SOFTWAR COM	$2,495,432	–	17,775	–	0.05%	–
IPG	Sell	INTERPUBLIC GROUP COS INC COM	$2,473,157	-26.3%	86,293	-0.8%	0.05%	-23.3%
ANTM	Sell	ELEVANCE HEALTH INC COM	$2,464,042	-8.2%	5,659	-6.4%	0.05%	-4.2%
	New	FEDERAL RLTY INVT TR NEW SH BEN INT NEWsh ben int new	$2,465,136	–	27,200	–	0.05%	–
COST	Sell	COSTCO WHSL CORP NEW COM	$2,350,234	-9.8%	4,160	-14.1%	0.04%	-8.5%
FOX	Sell	FOX CORP CL B COM	$2,306,155	-22.7%	79,853	-14.6%	0.04%	-20.4%
INTU	Sell	INTUIT COM	$2,239,961	-1.6%	4,384	-11.7%	0.04%	0.0%
DOV	Sell	DOVER CORP COM	$2,185,145	-12.6%	15,663	-7.5%	0.04%	-11.1%
VAL	Buy	VALARIS LTD CL Acl a	$2,054,902	+33.5%	27,406	+12.1%	0.04%	+35.7%
ENB	Sell	ENBRIDGE INC COM	$1,906,283	-30.7%	31,298	-25.8%	0.04%	-30.0%
JOE	Sell	ST JOE CO COM	$1,854,718	+9.5%	34,138	-2.5%	0.03%	+9.7%
FDS	Buy	FACTSET RESH SYS INC COM	$1,794,952	+14.7%	4,105	+5.1%	0.03%	+17.9%
GRMN	Sell	GARMIN LTD SHS	$1,730,224	-13.5%	16,447	-14.3%	0.03%	-11.1%
DLR	Sell	DIGITAL RLTY TR INC COM	$1,748,255	-92.6%	14,446	-93.0%	0.03%	-92.5%
PSA	Sell	PUBLIC STORAGE COM	$1,641,993	-70.3%	6,231	-67.1%	0.03%	-70.0%
BLDR	Buy	BUILDERS FIRSTSOURCE INC COM	$1,494,378	-8.3%	12,004	+0.1%	0.03%	-3.4%
CF	New	CF INDS HLDGS INC COM	$1,509,024	–	17,600	–	0.03%	–
	Sell	DIAMOND OFFSHORE DRILLING IN COM	$1,496,465	-17.9%	101,939	-20.3%	0.03%	-15.2%
CCU	Sell	COMPANIA CERVECERIAS UNIDAS SPONSORED ADRadr	$1,230,352	-49.5%	97,647	-35.0%	0.02%	-47.7%
ICE	Sell	INTERCONTINENTAL EXCHANGE IN COM	$1,266,220	-16.5%	11,509	-14.1%	0.02%	-14.8%
TRNO	Sell	TERRENO RLTY CORP COM	$1,204,160	-6.4%	21,200	-0.9%	0.02%	-4.3%
AER	Buy	AERCAP HOLDINGS NV SHS	$1,147,738	+2.6%	18,314	+4.0%	0.02%	+5.0%
WCC	Buy	WESCO INTL INC COM	$1,057,077	-14.7%	7,350	+6.3%	0.02%	-9.1%
	Buy	THOMSON REUTERS CORP. COM	$1,036,526	+117.7%	4,614	+129.3%	0.02%	+111.1%
VRSN	Buy	VERISIGN INC COM	$696,703	+112.3%	3,440	+136.9%	0.01%	+116.7%
ADBE	New	ADOBE INC COM	$616,979	–	1,210	–	0.01%	–
	Buy	WARNER BROS DISCOVERY INC COM SER A	$472,464	-1.7%	43,505	+13.5%	0.01%	0.0%
SWKS	Buy	SKYWORKS SOLUTIONS INC COM	$242,236	+83.0%	2,457	+105.4%	0.00%	+100.0%
O	Sell	REALTY INCOME CORP COM	$174,790	-91.4%	3,500	-89.7%	0.00%	-91.9%
APLE	Sell	APPLE HOSPITALITY REIT INC COM NEW	$170,274	-9.8%	11,100	-11.2%	0.00%	0.0%
CUZ	New	COUSINS PPTYS INC COM NEW	$173,145	–	8,500	–	0.00%	–
MELI	Buy	MERCADOLIBRE INC COM	$126,788	+245.3%	100	+222.6%	0.00%	+100.0%
WY	Sell	WEYERHAEUSER CO MTN BE COM NEW	$32,960	-33.3%	1,075	-27.1%	0.00%	0.0%
KGC	Sell	KINROSS GOLD CORP COM	$10,862	-45.3%	2,382	-42.8%	0.00%	–
FR	Exit	FIRST INDL RLTY TR INC COM	$0	–	-2,700	–	-0.00%	–
SBRA	Exit	SABRA HEALTH CARE REIT INC COM	$0	–	-30,100	–	-0.01%	–
ZI	Exit	ZOOMINFO TECHNOLOGIES INC COMMON STOCK	$0	–	-38,847	–	-0.02%	–
STLD	Exit	STEEL DYNAMICS INC COM	$0	–	-15,164	–	-0.03%	–
HOLX	Exit	HOLOGIC INC COM	$0	–	-42,769	–	-0.06%	–
CLVT	Exit	CLARIVATE PLC ORD SHS	$0	–	-824,084	–	-0.14%	–
DDOG	Exit	DATADOG INC CL A COM	$0	–	-116,072	–	-0.21%	–
ATVI	Exit	ACTIVISION BLIZZARD INC COM	$0	–	-185,130	–	-0.28%	–
GS	Exit	GOLDMAN SACHS GROUP INC COM	$0	–	-169,000	–	-0.98%	–

Q2 2023

			Value		Shares		↓ Weighting
MSFT	New	MICROSOFT CORP COM	$281,397,397	–	826,327	–	5.07%	–
GOOGL	New	ALPHABET INC CAP STK CL Acl a	$224,867,822	–	1,878,595	–	4.05%	–
MRK	New	MERCK & CO INC COM	$148,216,493	–	1,284,483	–	2.67%	–
KKR	New	KKR & CO INC COM	$142,257,920	–	2,540,320	–	2.56%	–
BKNG	New	BOOKING HOLDINGS INC COM	$139,237,116	–	51,563	–	2.51%	–
JBL	New	JABIL INC COM	$121,627,180	–	1,126,908	–	2.19%	–
BC	New	BRUNSWICK CORP COM	$119,799,900	–	1,382,732	–	2.16%	–
NXPI	New	NXP SEMICONDUCTORS N V COM	$117,015,556	–	571,700	–	2.11%	–
FB	New	META PLATFORMS INC CL Acl a	$106,900,050	–	372,500	–	1.93%	–
MDT	New	MEDTRONIC PLC SHS	$106,379,517	–	1,207,486	–	1.92%	–
BRKB	New	BERKSHIRE HATHAWAY INC DEL CL B NEWcl b	$98,339,285	–	288,385	–	1.77%	–
ENS	New	ENERSYS COM	$89,314,456	–	823,023	–	1.61%	–
PTC	New	PTC INC COM	$82,998,894	–	583,267	–	1.50%	–
C	New	CITIGROUP INC COM NEW	$81,578,092	–	1,771,896	–	1.47%	–
ADI	New	ANALOG DEVICES INC COM	$77,243,529	–	396,507	–	1.39%	–
WFG	New	WEST FRASER TIMBER CO LTD COM	$70,851,619	–	622,543	–	1.28%	–
MKL	New	MARKEL GROUP INC COM	$69,214,327	–	50,040	–	1.25%	–
JNJ	New	JOHNSON & JOHNSON COM	$67,483,994	–	407,709	–	1.22%	–
EHC	New	ENCOMPASS HEALTH CORP COM	$66,241,506	–	978,312	–	1.19%	–
CSCO	New	CISCO SYS INC COM	$65,842,203	–	1,272,559	–	1.19%	–
MWA	New	MUELLER WTR PRODS INC COM SER A	$65,199,692	–	4,017,233	–	1.18%	–
THR	New	THERMON GROUP HLDGS INC COM	$64,591,769	–	2,428,262	–	1.16%	–
BRKA	New	BERKSHIRE HATHAWAY INC DEL CL Acl a	$63,172,820	–	122	–	1.14%	–
AMAT	New	APPLIED MATLS INC COM	$62,356,290	–	431,412	–	1.12%	–
FSLR	New	FIRST SOLAR INC COM	$61,776,779	–	324,987	–	1.11%	–
V	New	VISA INC COM CL Acl a	$61,270,552	–	258,003	–	1.10%	–
KMX	New	CARMAX INC COM	$60,766,200	–	726,000	–	1.10%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADSsponsored ads	$58,071,891	–	575,425	–	1.05%	–
MA	New	MASTERCARD INCORPORATED CL Acl a	$56,854,661	–	144,558	–	1.02%	–
SYY	New	SYSCO CORP COM	$55,871,487	–	752,985	–	1.01%	–
	New	QUIDELORTHO CORP COM	$55,392,739	–	668,510	–	1.00%	–
FERG	New	FERGUSON PLC NEW SHS	$55,337,883	–	351,776	–	1.00%	–
AMZN	New	AMAZON COM INC COM	$54,832,024	–	420,620	–	0.99%	–
GS	New	GOLDMAN SACHS GROUP INC COM	$54,509,260	–	169,000	–	0.98%	–
BLK	New	BLACKROCK INC COM	$52,373,899	–	75,779	–	0.94%	–
TRIP	New	TRIPADVISOR INC COM	$51,335,679	–	3,113,140	–	0.92%	–
RY	New	ROYAL BK CDA COM	$51,045,265	–	403,233	–	0.92%	–
TDC	New	TERADATA CORP DEL COM	$50,484,948	–	945,234	–	0.91%	–
GNTX	New	GENTEX CORP COM	$49,909,221	–	1,705,715	–	0.90%	–
AMH	New	AMERICAN HOMES 4 RENT CL Acl a	$49,626,916	–	1,399,913	–	0.89%	–
WTFC	New	WINTRUST FINL CORP COM	$48,779,871	–	671,714	–	0.88%	–
AMED	New	AMEDISYS INC COM	$44,773,596	–	489,650	–	0.81%	–
TXN	New	TEXAS INSTRS INC COM	$44,374,750	–	246,499	–	0.80%	–
PEAK	New	HEALTHPEAK PROPERTIES INC COM	$43,419,015	–	2,160,150	–	0.78%	–
STRA	New	STRATEGIC ED INC COM	$41,630,355	–	613,655	–	0.75%	–
AAPL	New	APPLE INC COM	$40,729,432	–	209,978	–	0.73%	–
CBT	New	CABOT CORP COM	$39,299,146	–	587,519	–	0.71%	–
MHK	New	MOHAWK INDS INC COM	$39,200,800	–	380,000	–	0.71%	–
SNBR	New	SLEEP NUMBER CORP COM	$38,905,972	–	1,426,172	–	0.70%	–
NKE	New	NIKE INC CL Bcl b	$38,911,164	–	352,552	–	0.70%	–
IQV	New	IQVIA HLDGS INC COM	$37,667,856	–	167,584	–	0.68%	–
DLTR	New	DOLLAR TREE INC COM	$37,597,000	–	262,000	–	0.68%	–
MMC	New	MARSH & MCLENNAN COS INC COM	$36,239,819	–	192,683	–	0.65%	–
ANF	New	ABERCROMBIE & FITCH CO CL Acl a	$35,987,264	–	955,076	–	0.65%	–
EL	New	LAUDER ESTEE COS INC CL Acl a	$35,852,900	–	182,569	–	0.65%	–
DE	New	DEERE & CO COM	$35,349,991	–	87,243	–	0.64%	–
TROX	New	TRONOX HOLDINGS PLC SHS	$35,143,404	–	2,765,020	–	0.63%	–
LYB	New	LYONDELLBASELL INDUSTRIES N SHS - A -	$34,936,815	–	380,451	–	0.63%	–
TMO	New	THERMO FISHER SCIENTIFIC INC COM	$34,564,372	–	66,247	–	0.62%	–
PLD	New	PROLOGIS INC. COM	$34,549,286	–	281,736	–	0.62%	–
ARGO	New	ARGO GROUP INTL HLDGS LTD COM	$34,428,879	–	1,162,745	–	0.62%	–
NXST	New	NEXSTAR MEDIA GROUP INC COMMON STOCK	$34,320,292	–	206,066	–	0.62%	–
CRM	New	SALESFORCE INC COM	$33,363,236	–	157,925	–	0.60%	–
SPGI	New	S&P GLOBAL INC COM	$32,350,219	–	80,696	–	0.58%	–
HBAN	New	HUNTINGTON BANCSHARES INC COM	$31,872,752	–	2,956,656	–	0.57%	–
AVTR	New	AVANTOR INC COM	$31,302,960	–	1,524,000	–	0.56%	–
RNR	New	RENAISSANCERE HLDGS LTD COM	$30,020,021	–	160,948	–	0.54%	–
CAH	New	CARDINAL HEALTH INC COM	$29,424,037	–	311,135	–	0.53%	–
ALV	New	AUTOLIV INC COM	$29,347,304	–	345,100	–	0.53%	–
KMI	New	KINDER MORGAN INC DEL COM	$29,234,428	–	1,697,702	–	0.53%	–
MSM	New	MSC INDL DIRECT INC CL Acl a	$26,364,738	–	276,708	–	0.48%	–
LXFR	New	LUXFER HLDGS PLC SHS	$26,356,578	–	1,852,184	–	0.48%	–
NEE	New	NEXTERA ENERGY INC COM	$26,273,701	–	354,093	–	0.47%	–
SPG	New	SIMON PPTY GROUP INC NEW COM	$25,786,453	–	223,298	–	0.46%	–
DOC	New	PHYSICIANS RLTY TR COM	$25,824,309	–	1,845,912	–	0.46%	–
PEP	New	PEPSICO INC COM	$25,700,016	–	138,754	–	0.46%	–
PRU	New	PRUDENTIAL FINL INC COM	$25,616,441	–	290,370	–	0.46%	–
DLR	New	DIGITAL RLTY TR INC COM	$23,667,424	–	207,846	–	0.43%	–
DRH	New	DIAMONDROCK HOSPITALITY CO COM	$23,600,055	–	2,946,324	–	0.42%	–
WMB	New	WILLIAMS COS INC COM	$23,572,336	–	722,413	–	0.42%	–
PEG	New	PUBLIC SVC ENTERPRISE GRP IN COM	$23,484,385	–	375,090	–	0.42%	–
CME	New	CME GROUP INC COM	$22,723,780	–	122,639	–	0.41%	–
	New	ENHABIT INC COM	$22,315,394	–	1,940,469	–	0.40%	–
LITE	New	LUMENTUM HLDGS INC COM	$21,117,005	–	372,237	–	0.38%	–
JPM	New	JPMORGAN CHASE & CO COM	$20,799,665	–	143,012	–	0.38%	–
GILD	New	GILEAD SCIENCES INC COM	$20,723,660	–	268,894	–	0.37%	–
MCD	New	MCDONALDS CORP COM	$20,576,861	–	68,955	–	0.37%	–
XYL	New	XYLEM INC COM	$19,858,622	–	176,333	–	0.36%	–
INVH	New	INVITATION HOMES INC COM	$19,611,853	–	570,112	–	0.35%	–
ARE	New	ALEXANDRIA REAL ESTATE EQ IN COM	$19,183,782	–	169,035	–	0.35%	–
EXR	New	EXTRA SPACE STORAGE INC COM	$18,942,502	–	127,259	–	0.34%	–
SUI	New	SUN CMNTYS INC COM	$17,475,508	–	133,953	–	0.32%	–
VICI	New	VICI PPTYS INC COM	$16,783,620	–	534,000	–	0.30%	–
KRO	New	KRONOS WORLDWIDE INC COM	$16,145,960	–	1,849,480	–	0.29%	–
REXR	New	REXFORD INDL RLTY INC COM	$15,704,643	–	300,740	–	0.28%	–
OMC	New	OMNICOM GROUP INC COM	$15,646,751	–	164,443	–	0.28%	–
ATVI	New	ACTIVISION BLIZZARD INC COM	$15,606,459	–	185,130	–	0.28%	–
AVB	New	AVALONBAY CMNTYS INC COM	$14,813,027	–	78,264	–	0.27%	–
STAG	New	STAG INDL INC COM	$14,768,208	–	411,600	–	0.27%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA COM	$13,554,018	–	170,298	–	0.24%	–
CHK	New	CHESAPEAKE ENERGY CORP COM	$13,501,350	–	161,345	–	0.24%	–
	New	TRICON RESIDENTIAL INC COM NPV	$13,228,559	–	1,501,539	–	0.24%	–
LXP	New	LXP INDUSTRIAL TRUST COM	$13,009,425	–	1,334,300	–	0.23%	–
HIW	New	HIGHWOODS PPTYS INC COM	$12,921,036	–	540,403	–	0.23%	–
IRT	New	INDEPENDENCE RLTY TR INC COM	$12,390,456	–	680,047	–	0.22%	–
EQIX	New	EQUINIX INC COM	$12,307,074	–	15,699	–	0.22%	–
PPL	New	PPL CORP COM	$12,007,098	–	453,783	–	0.22%	–
DDOG	New	DATADOG INC CL A COM	$11,419,163	–	116,072	–	0.21%	–
SIGA	New	SIGA TECHNOLOGIES INC COM	$11,028,407	–	2,183,843	–	0.20%	–
SHO	New	SUNSTONE HOTEL INVS INC NEW COM	$10,992,091	–	1,086,175	–	0.20%	–
UNH	New	UNITEDHEALTH GROUP INC COM	$10,886,496	–	22,650	–	0.20%	–
DIS	New	DISNEY WALT CO COM	$10,640,658	–	119,183	–	0.19%	–
	New	CANADIAN PACIFIC KANSAS CITY COM	$10,625,314	–	99,302	–	0.19%	–
HST	New	HOST HOTELS & RESORTS INC COM	$9,827,037	–	583,900	–	0.18%	–
UNP	New	UNION PAC CORP COM	$9,743,595	–	47,618	–	0.18%	–
XOM	New	EXXON MOBIL CORP COM	$9,272,942	–	86,461	–	0.17%	–
AMT	New	AMERICAN TOWER CORP NEW COM	$9,071,738	–	46,776	–	0.16%	–
SO	New	SOUTHERN CO COM	$8,331,439	–	118,597	–	0.15%	–
HD	New	HOME DEPOT INC COM	$7,962,946	–	25,634	–	0.14%	–
CLVT	New	CLARIVATE PLC ORD SHS	$7,853,521	–	824,084	–	0.14%	–
NVDA	New	NVIDIA CORPORATION COM	$7,639,741	–	18,060	–	0.14%	–
ABT	New	ABBOTT LABS COM	$7,464,926	–	68,473	–	0.13%	–
SRE	New	SEMPRA COM	$7,264,068	–	49,894	–	0.13%	–
PRGS	New	PROGRESS SOFTWARE CORP COM	$6,761,736	–	116,381	–	0.12%	–
REG	New	REGENCY CTRS CORP COM	$6,782,346	–	109,800	–	0.12%	–
AEP	New	AMERICAN ELEC PWR CO INC COM	$5,726,021	–	68,005	–	0.10%	–
LNG	New	CHENIERE ENERGY INC COM NEW	$5,606,971	–	36,800	–	0.10%	–
PSA	New	PUBLIC STORAGE COM	$5,525,580	–	18,931	–	0.10%	–
WEC	New	WEC ENERGY GROUP INC COM	$5,519,765	–	62,554	–	0.10%	–
CUBE	New	CUBESMART COM	$5,049,394	–	113,063	–	0.09%	–
CMS	New	CMS ENERGY CORP COM	$4,844,643	–	82,462	–	0.09%	–
LRCX	New	LAM RESEARCH CORP COM	$4,198,519	–	6,531	–	0.08%	–
TDW	New	TIDEWATER INC NEW COM	$4,129,448	–	74,485	–	0.07%	–
CSX	New	CSX CORP COM	$4,127,259	–	121,034	–	0.07%	–
SNA	New	SNAP ON INC COM	$3,951,661	–	13,712	–	0.07%	–
XEL	New	XCEL ENERGY INC COM	$3,744,002	–	60,222	–	0.07%	–
TRGP	New	TARGA RES CORP COM	$3,615,511	–	47,510	–	0.06%	–
AWK	New	AMERICAN WTR WKS CO INC NEW COM	$3,539,344	–	24,794	–	0.06%	–
EA	New	ELECTRONIC ARTS INC COM	$3,501,641	–	26,998	–	0.06%	–
KO	New	COCA COLA CO COM	$3,439,285	–	57,112	–	0.06%	–
HOLX	New	HOLOGIC INC COM	$3,463,006	–	42,769	–	0.06%	–
IPG	New	INTERPUBLIC GROUP COS INC COM	$3,357,309	–	87,022	–	0.06%	–
PCAR	New	PACCAR INC COM	$3,271,468	–	39,109	–	0.06%	–
LII	New	LENNOX INTL INC COM	$3,302,437	–	10,128	–	0.06%	–
FSV	New	FIRSTSERVICE CORP NEW COM	$3,216,540	–	11,914	–	0.06%	–
REGN	New	REGENERON PHARMACEUTICALS COM	$3,184,569	–	4,432	–	0.06%	–
VRTX	New	VERTEX PHARMACEUTICALS INC COM	$3,172,469	–	9,015	–	0.06%	–
	New	HEALTHCARE RLTY TR CL A COM	$3,085,496	–	163,600	–	0.06%	–
HSY	New	HERSHEY CO COM	$3,055,080	–	12,235	–	0.06%	–
ANET	New	ARISTA NETWORKS INC COM	$2,976,880	–	18,369	–	0.05%	–
FOX	New	FOX CORP CL B COM	$2,983,150	–	93,545	–	0.05%	–
LULU	New	LULULEMON ATHLETICA INC COM	$2,847,077	–	7,522	–	0.05%	–
ENB	New	ENBRIDGE INC COM	$2,748,877	–	42,187	–	0.05%	–
MPC	New	MARATHON PETE CORP COM	$2,758,056	–	23,654	–	0.05%	–
D	New	DOMINION ENERGY INC COM	$2,778,119	–	53,642	–	0.05%	–
	New	LINDE PLC SHS	$2,738,822	–	7,187	–	0.05%	–
ANTM	New	ELEVANCE HEALTH INC COM	$2,684,844	–	6,043	–	0.05%	–
AES	New	AES CORP COM	$2,620,376	–	126,405	–	0.05%	–
COST	New	COSTCO WHSL CORP NEW COM	$2,606,298	–	4,841	–	0.05%	–
ETR	New	ENTERGY CORP NEW COM	$2,544,960	–	26,137	–	0.05%	–
DOV	New	DOVER CORP COM	$2,500,157	–	16,933	–	0.04%	–
ALGN	New	ALIGN TECHNOLOGY INC COM	$2,505,893	–	7,086	–	0.04%	–
	New	DOLE PLC ORD SHS	$2,414,672	–	178,600	–	0.04%	–
CCU	New	COMPANIA CERVECERIAS UNIDAS SPONSORED ADRadr	$2,438,509	–	150,247	–	0.04%	–
INTU	New	INTUIT COM	$2,275,830	–	4,967	–	0.04%	–
O	New	REALTY INCOME CORP COM	$2,032,860	–	34,000	–	0.04%	–
GRMN	New	GARMIN LTD SHS	$2,001,117	–	19,188	–	0.04%	–
VLO	New	VALERO ENERGY CORP COM	$2,003,719	–	17,082	–	0.04%	–
PCG	New	PG&E CORP COM	$1,932,820	–	111,853	–	0.04%	–
	New	DIAMOND OFFSHORE DRILLING IN COM	$1,822,065	–	127,954	–	0.03%	–
	New	NOBLE CORP PLC ORD SHS A	$1,768,027	–	42,799	–	0.03%	–
JOE	New	ST JOE CO COM	$1,693,157	–	35,026	–	0.03%	–
STLD	New	STEEL DYNAMICS INC COM	$1,651,815	–	15,164	–	0.03%	–
BLDR	New	BUILDERS FIRSTSOURCE INC COM	$1,630,368	–	11,988	–	0.03%	–
FDS	New	FACTSET RESH SYS INC COM	$1,564,538	–	3,905	–	0.03%	–
VAL	New	VALARIS LIMITED CL Acl a	$1,539,142	–	24,458	–	0.03%	–
EIX	New	EDISON INTL COM	$1,541,443	–	22,195	–	0.03%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN COM	$1,515,724	–	13,404	–	0.03%	–
KRE	New	SPDR SER TR S&P REGL BKGs&p regl bkg	$1,367,805	–	33,500	–	0.02%	–
TRNO	New	TERRENO RLTY CORP COM	$1,286,140	–	21,400	–	0.02%	–
WCC	New	WESCO INTL INC COM	$1,238,558	–	6,917	–	0.02%	–
AER	New	AERCAP HOLDINGS NV SHS	$1,118,841	–	17,614	–	0.02%	–
ZI	New	ZOOMINFO TECHNOLOGIES INC COMMON STOCK	$986,325	–	38,847	–	0.02%	–
	New	WARNER BROS DISCOVERY INC COM SER A	$480,834	–	38,344	–	0.01%	–
	New	THOMSON REUTERS CORP. COM	$476,211	–	2,012	–	0.01%	–
VRSN	New	VERISIGN INC COM	$328,108	–	1,452	–	0.01%	–
SBRA	New	SABRA HEALTH CARE REIT INC COM	$354,277	–	30,100	–	0.01%	–
ABBV	New	ABBVIE INC COM	$258,143	–	1,916	–	0.01%	–
FR	New	FIRST INDL RLTY TR INC COM	$142,128	–	2,700	–	0.00%	–
APLE	New	APPLE HOSPITALITY REIT INC COM NEW	$188,875	–	12,500	–	0.00%	–
SWKS	New	SKYWORKS SOLUTIONS INC COM	$132,385	–	1,196	–	0.00%	–
WTRG	New	ESSENTIAL UTILS INC COM	$96,742	–	2,424	–	0.00%	–
GIL	New	GILDAN ACTIVEWEAR INC COM	$83,308	–	1,474	–	0.00%	–
MELI	New	MERCADOLIBRE INC COM	$36,723	–	31	–	0.00%	–
BAC	New	BANK AMERICA CORP COM	$34,485	–	1,202	–	0.00%	–
TU	New	TELUS CORPORATION COM	$82,387	–	2,415	–	0.00%	–
BMY	New	BRISTOL-MYERS SQUIBB CO COM	$42,143	–	659	–	0.00%	–
F	New	FORD MTR CO DEL COM	$57,721	–	3,815	–	0.00%	–
ULTA	New	ULTA BEAUTY INC COM	$38,118	–	81	–	0.00%	–
HPE	New	HEWLETT PACKARD ENTERPRISE C COM	$44,990	–	2,678	–	0.00%	–
K	New	KELLOGG CO COM	$39,901	–	592	–	0.00%	–
QCOM	New	QUALCOMM INC COM	$39,045	–	328	–	0.00%	–
WY	New	WEYERHAEUSER CO MTN BE COM NEW	$49,427	–	1,475	–	0.00%	–
NEM	New	NEWMONT CORP COM	$22,311	–	523	–	0.00%	–
IBM	New	INTERNATIONAL BUSINESS MACHS COM	$27,163	–	203	–	0.00%	–
BK	New	BANK NEW YORK MELLON CORP COM	$19,767	–	444	–	0.00%	–
KGC	New	KINROSS GOLD CORP COM	$19,872	–	4,166	–	0.00%	–

Q4 2022

			Value		Shares		↓ Weighting
MELI	Exit	MERCADOLIBRE INC COM	$0	–	-13	–	0.00%	–
HPP	Exit	HUDSON PAC PPTYS INC COM	$0	–	-1	–	0.00%	–
HPE	Exit	HEWLETT PACKARD ENTERPRISE C COM	$0	–	-2,678	–	-0.00%	–
BBY	Exit	BEST BUY INC COM	$0	–	-470	–	-0.00%	–
ECL	Exit	ECOLAB INC COM	$0	–	-189	–	-0.00%	–
QCOM	Exit	QUALCOMM INC COM	$0	–	-328	–	-0.00%	–
EXC	Exit	EXELON CORP COM	$0	–	-686	–	-0.00%	–
NEM	Exit	NEWMONT CORP COM	$0	–	-523	–	-0.00%	–
NVDA	Exit	NVIDIA CORPORATION COM	$0	–	-248	–	-0.00%	–
CI	Exit	CIGNA CORP NEW COM	$0	–	-89	–	-0.00%	–
JNJ	Exit	JOHNSON & JOHNSON COM	$0	–	-209	–	-0.00%	–
BAC	Exit	BK OF AMERICA CORP COM	$0	–	-1,202	–	-0.00%	–
F	Exit	FORD MTR CO DEL COM	$0	–	-3,815	–	-0.00%	–
K	Exit	KELLOGG CO COM	$0	–	-784	–	-0.00%	–
BNS	Exit	BANK NOVA SCOTIA HALIFAX COM	$0	–	-474	–	-0.00%	–
SNA	Exit	SNAP ON INC COM	$0	–	-228	–	-0.00%	–
WY	Exit	WEYERHAEUSER CO MTN BE COM NEW	$0	–	-1,475	–	-0.00%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS COM	$0	–	-365	–	-0.00%	–
ULTA	Exit	ULTA BEAUTY INC COM	$0	–	-210	–	-0.00%	–
GIL	Exit	GILDAN ACTIVEWEAR INC COM	$0	–	-1,474	–	-0.00%	–
LLY	Exit	LILLY ELI & CO COM	$0	–	-198	–	-0.00%	–
WTRG	Exit	ESSENTIAL UTILS INC COM	$0	–	-1,802	–	-0.00%	–
DLR	Exit	DIGITAL RLTY TR INC COM	$0	–	-658	–	-0.00%	–
TU	Exit	TELUS CORPORATION COM	$0	–	-2,415	–	-0.00%	–
RCI	Exit	ROGERS COMMUNICATIONS INC CL Bcl b	$0	–	-1,774	–	-0.01%	–
NTAP	Exit	NETAPP INC COM	$0	–	-1,872	–	-0.01%	–
FOXA	Exit	FOX CORP CL A COM	$0	–	-3,771	–	-0.01%	–
CAG	Exit	CONAGRA BRANDS INC COM	$0	–	-3,981	–	-0.01%	–
DG	Exit	DOLLAR GEN CORP NEW COM	$0	–	-491	–	-0.01%	–
CHRW	Exit	C H ROBINSON WORLDWIDE INC COM NEW	$0	–	-1,652	–	-0.01%	–
LULU	Exit	LULULEMON ATHLETICA INC COM	$0	–	-532	–	-0.01%	–
APLE	Exit	APPLE HOSPITALITY REIT INC COM NEW	$0	–	-10,700	–	-0.01%	–
MSI	Exit	MOTOROLA SOLUTIONS INC COM NEW	$0	–	-798	–	-0.01%	–
	Exit	WARNER BROS DISCOVERY INC COM SER A	$0	–	-28,817	–	-0.01%	–
ABT	Exit	ABBOTT LABS COM	$0	–	-3,395	–	-0.01%	–
EPR	Exit	EPR PPTYS COM SH BEN INTsh ben int	$0	–	-10,000	–	-0.01%	–
XOM	Exit	EXXON MOBIL CORP COM	$0	–	-4,287	–	-0.02%	–
WFRD	Exit	WEATHERFORD INTL PLC ORD SHS	$0	–	-12,480	–	-0.02%	–
HD	Exit	HOME DEPOT INC COM	$0	–	-1,484	–	-0.02%	–
GT	Exit	GOODYEAR TIRE & RUBR CO COM	$0	–	-54,216	–	-0.02%	–
UNH	Exit	UNITEDHEALTH GROUP INC COM	$0	–	-1,123	–	-0.02%	–
DIS	Exit	DISNEY WALT CO COM	$0	–	-5,993	–	-0.02%	–
JPM	Exit	JPMORGAN CHASE & CO COM	$0	–	-6,272	–	-0.03%	–
ATVI	Exit	ACTIVISION BLIZZARD INC COM	$0	–	-9,309	–	-0.03%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA COM	$0	–	-7,723	–	-0.03%	–
SBAC	Exit	SBA COMMUNICATIONS CORP NEW CL Acl a	$0	–	-2,800	–	-0.03%	–
BLDR	Exit	BUILDERS FIRSTSOURCE INC COM	$0	–	-13,756	–	-0.03%	–
AER	Exit	AERCAP HOLDINGS NV SHS	$0	–	-19,714	–	-0.03%	–
	Exit	DIAMOND OFFSHORE DRILLING IN COM	$0	–	-127,954	–	-0.03%	–
STLD	Exit	STEEL DYNAMICS INC COM	$0	–	-13,151	–	-0.04%	–
VAL	Exit	VALARIS LIMITED CL Acl a	$0	–	-19,899	–	-0.04%	–
EW	Exit	EDWARDS LIFESCIENCES CORP COM	$0	–	-11,937	–	-0.04%	–
DOV	Exit	DOVER CORP COM	$0	–	-8,885	–	-0.04%	–
JOE	Exit	ST JOE CO COM	$0	–	-32,669	–	-0.04%	–
AES	Exit	AES CORP COM	$0	–	-46,125	–	-0.04%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN COM	$0	–	-13,176	–	-0.05%	–
EIX	Exit	EDISON INTL COM	$0	–	-22,195	–	-0.05%	–
	Exit	NOBLE CORP NEW ORD SHS A	$0	–	-42,799	–	-0.05%	–
	Exit	DOLE PLC ORD SHS	$0	–	-178,600	–	-0.05%	–
AMZN	Exit	AMAZON COM INC COM	$0	–	-12,062	–	-0.06%	–
PCG	Exit	PG&E CORP COM	$0	–	-111,853	–	-0.06%	–
TRP	Exit	TC ENERGY CORP COM	$0	–	-25,210	–	-0.06%	–
CFG	Exit	CITIZENS FINL GROUP INC COM	$0	–	-40,982	–	-0.06%	–
HSY	Exit	HERSHEY CO COM	$0	–	-6,658	–	-0.06%	–
FDS	Exit	FACTSET RESH SYS INC COM	$0	–	-3,873	–	-0.06%	–
ZI	Exit	ZOOMINFO TECHNOLOGIES INC COMMON STOCK	$0	–	-40,440	–	-0.07%	–
PCAR	Exit	PACCAR INC COM	$0	–	-20,996	–	-0.07%	–
IPG	Exit	INTERPUBLIC GROUP COS INC COM	$0	–	-70,220	–	-0.07%	–
INTU	Exit	INTUIT COM	$0	–	-5,006	–	-0.08%	–
FOX	Exit	FOX CORP CL B COM	$0	–	-70,042	–	-0.08%	–
MOH	Exit	MOLINA HEALTHCARE INC COM	$0	–	-6,130	–	-0.08%	–
CCU	Exit	COMPANIA CERVECERIAS UNIDAS SPONSORED ADRadr	$0	–	-186,747	–	-0.08%	–
SAFE	Exit	SAFEHOLD INC COM	$0	–	-76,717	–	-0.08%	–
LIN	Exit	LINDE PLC SHS	$0	–	-7,672	–	-0.08%	–
PSA	Exit	PUBLIC STORAGE COM	$0	–	-7,075	–	-0.08%	–
COST	Exit	COSTCO WHSL CORP NEW COM	$0	–	-4,675	–	-0.09%	–
TDW	Exit	TIDEWATER INC NEW COM	$0	–	-114,723	–	-0.10%	–
REGN	Exit	REGENERON PHARMACEUTICALS COM	$0	–	-3,646	–	-0.10%	–
LRCX	Exit	LAM RESEARCH CORP COM	$0	–	-6,925	–	-0.10%	–
DLTR	Exit	DOLLAR TREE INC COM	$0	–	-18,719	–	-0.10%	–
DDOG	Exit	DATADOG INC CL A COM	$0	–	-29,461	–	-0.10%	–
D	Exit	DOMINION ENERGY INC COM	$0	–	-38,400	–	-0.11%	–
EA	Exit	ELECTRONIC ARTS INC COM	$0	–	-23,372	–	-0.11%	–
TRGP	Exit	TARGA RES CORP COM	$0	–	-45,785	–	-0.11%	–
CMS	Exit	CMS ENERGY CORP COM	$0	–	-48,171	–	-0.11%	–
RF	Exit	REGIONS FINANCIAL CORP NEW COM	$0	–	-142,846	–	-0.12%	–
PAYX	Exit	PAYCHEX INC COM	$0	–	-25,623	–	-0.12%	–
ANTM	Exit	ELEVANCE HEALTH INC COM	$0	–	-6,531	–	-0.12%	–
KO	Exit	COCA COLA CO COM	$0	–	-53,234	–	-0.12%	–
UNP	Exit	UNION PAC CORP COM	$0	–	-15,382	–	-0.12%	–
LOW	Exit	LOWES COS INC COM	$0	–	-16,332	–	-0.12%	–
ACN	Exit	ACCENTURE PLC IRELAND SHS CLASS A	$0	–	-11,852	–	-0.12%	–
MPC	Exit	MARATHON PETE CORP COM	$0	–	-31,091	–	-0.12%	–
VRTX	Exit	VERTEX PHARMACEUTICALS INC COM	$0	–	-10,774	–	-0.13%	–
O	Exit	REALTY INCOME CORP COM	$0	–	-55,200	–	-0.13%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO COM	$0	–	-45,837	–	-0.13%	–
CSX	Exit	CSX CORP COM	$0	–	-122,822	–	-0.13%	–
MCD	Exit	MCDONALDS CORP COM	$0	–	-16,030	–	-0.15%	–
XEL	Exit	XCEL ENERGY INC COM	$0	–	-58,435	–	-0.15%	–
AWK	Exit	AMERICAN WTR WKS CO INC NEW COM	$0	–	-29,181	–	-0.15%	–
ENB	Exit	ENBRIDGE INC COM	$0	–	-54,230	–	-0.15%	–
KRC	Exit	KILROY RLTY CORP COM	$0	–	-93,400	–	-0.16%	–
ETR	Exit	ENTERGY CORP NEW COM	$0	–	-40,371	–	-0.16%	–
SITC	Exit	SITE CTRS CORP COM	$0	–	-407,800	–	-0.18%	–
SBRA	Exit	SABRA HEALTH CARE REIT INC COM	$0	–	-346,000	–	-0.18%	–
WEC	Exit	WEC ENERGY GROUP INC COM	$0	–	-52,926	–	-0.19%	–
V	Exit	VISA INC COM CL Acl a	$0	–	-26,788	–	-0.19%	–
SO	Exit	SOUTHERN CO COM	$0	–	-81,563	–	-0.22%	–
PTC	Exit	PTC INC COM	$0	–	-54,216	–	-0.23%	–
XYL	Exit	XYLEM INC COM	$0	–	-65,496	–	-0.23%	–
AEP	Exit	AMERICAN ELEC PWR CO INC COM	$0	–	-66,833	–	-0.23%	–
WMB	Exit	WILLIAMS COS INC COM	$0	–	-204,105	–	-0.24%	–
LNG	Exit	CHENIERE ENERGY INC COM NEW	$0	–	-38,027	–	-0.25%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADSsponsored ads	$0	–	-95,365	–	-0.26%	–
CP	Exit	CANADIAN PAC RY LTD COM	$0	–	-72,085	–	-0.27%	–
CRM	Exit	SALESFORCE INC COM	$0	–	-48,254	–	-0.28%	–
SRE	Exit	SEMPRA COM	$0	–	-49,651	–	-0.30%	–
	Exit	HEALTHCARE RLTY TR CL A COM	$0	–	-384,173	–	-0.32%	–
MDT	Exit	MEDTRONIC PLC SHS	$0	–	-99,155	–	-0.32%	–
SIGA	Exit	SIGA TECHNOLOGIES INC COM	$0	–	-783,184	–	-0.32%	–
AAPL	Exit	APPLE INC COM	$0	–	-62,977	–	-0.35%	–
HST	Exit	HOST HOTELS & RESORTS INC COM	$0	–	-562,000	–	-0.36%	–
IRT	Exit	INDEPENDENCE RLTY TR INC COM	$0	–	-569,547	–	-0.38%	–
INVH	Exit	INVITATION HOMES INC COM	$0	–	-290,212	–	-0.39%	–
SPGI	Exit	S&P GLOBAL INC COM	$0	–	-33,021	–	-0.41%	–
SHO	Exit	SUNSTONE HOTEL INVS INC NEW COM	$0	–	-1,094,075	–	-0.42%	–
NKE	Exit	NIKE INC CL Bcl b	$0	–	-126,767	–	-0.42%	–
NEE	Exit	NEXTERA ENERGY INC COM	$0	–	-136,402	–	-0.43%	–
AMT	Exit	AMERICAN TOWER CORP NEW COM	$0	–	-50,601	–	-0.44%	–
BNL	Exit	BROADSTONE NET LEASE INC COM	$0	–	-706,000	–	-0.44%	–
VZ	Exit	VERIZON COMMUNICATIONS INC COM	$0	–	-290,722	–	-0.44%	–
PPL	Exit	PPL CORP COM	$0	–	-436,405	–	-0.44%	–
IQV	Exit	IQVIA HLDGS INC COM	$0	–	-61,656	–	-0.45%	–
AMAT	Exit	APPLIED MATLS INC COM	$0	–	-137,432	–	-0.45%	–
HIW	Exit	HIGHWOODS PPTYS INC COM	$0	–	-432,192	–	-0.47%	–
BKNG	Exit	BOOKING HOLDINGS INC COM	$0	–	-7,107	–	-0.47%	–
PFG	Exit	PRINCIPAL FINANCIAL GROUP IN COM	$0	–	-164,415	–	-0.48%	–
EXR	Exit	EXTRA SPACE STORAGE INC COM	$0	–	-69,173	–	-0.48%	–
TRNO	Exit	TERRENO RLTY CORP COM	$0	–	-228,016	–	-0.49%	–
EL	Exit	LAUDER ESTEE COS INC CL Acl a	$0	–	-56,185	–	-0.49%	–
LXP	Exit	LXP INDUSTRIAL TRUST COM	$0	–	-1,379,800	–	-0.51%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC COM	$0	–	-25,762	–	-0.53%	–
AEO	Exit	AMERICAN EAGLE OUTFITTERS IN COM	$0	–	-1,343,585	–	-0.53%	–
REXR	Exit	REXFORD INDL RLTY INC COM	$0	–	-260,973	–	-0.55%	–
CUBE	Exit	CUBESMART COM	$0	–	-341,900	–	-0.55%	–
STAG	Exit	STAG INDL INC COM	$0	–	-484,200	–	-0.55%	–
GOOGL	Exit	ALPHABET INC CAP STK CL Acl a	$0	–	-145,682	–	-0.56%	–
DE	Exit	DEERE & CO COM	$0	–	-41,912	–	-0.56%	–
MA	Exit	MASTERCARD INCORPORATED CL Acl a	$0	–	-49,345	–	-0.56%	–
PLD	Exit	PROLOGIS INC. COM	$0	–	-139,058	–	-0.57%	–
PEAK	Exit	HEALTHPEAK PROPERTIES INC COM	$0	–	-638,350	–	-0.59%	–
CHK	Exit	CHESAPEAKE ENERGY CORP COM	$0	–	-155,693	–	-0.59%	–
SUI	Exit	SUN CMNTYS INC COM	$0	–	-108,278	–	-0.59%	–
MMC	Exit	MARSH & MCLENNAN COS INC COM	$0	–	-101,136	–	-0.61%	–
GILD	Exit	GILEAD SCIENCES INC COM	$0	–	-273,848	–	-0.68%	–
	Exit	ENHABIT INC COM	$0	–	-1,213,574	–	-0.69%	–
ALV	Exit	AUTOLIV INC COM	$0	–	-264,100	–	-0.71%	–
C	Exit	CITIGROUP INC COM NEW	$0	–	-426,260	–	-0.72%	–
DK	Exit	DELEK US HLDGS INC NEW COM	$0	–	-673,636	–	-0.74%	–
PEG	Exit	PUBLIC SVC ENTERPRISE GRP IN COM	$0	–	-326,696	–	-0.74%	–
MSFT	Exit	MICROSOFT CORP COM	$0	–	-79,732	–	-0.75%	–
ARE	Exit	ALEXANDRIA REAL ESTATE EQ IN COM	$0	–	-132,657	–	-0.75%	–
KRO	Exit	KRONOS WORLDWIDE INC COM	$0	–	-2,058,473	–	-0.77%	–
PRGS	Exit	PROGRESS SOFTWARE CORP COM	$0	–	-453,274	–	-0.78%	–
TRTN	Exit	TRITON INTL LTD CL Acl a	$0	–	-358,711	–	-0.79%	–
GRPU	Exit	GRANITE REAL ESTATE INVT TR UNIT 99/99/9999unit 99/99/9999	$0	–	-297,640	–	-0.80%	–
PRU	Exit	PRUDENTIAL FINL INC COM	$0	–	-231,598	–	-0.80%	–
AMED	Exit	AMEDISYS INC COM	$0	–	-207,104	–	-0.81%	–
OMC	Exit	OMNICOM GROUP INC COM	$0	–	-325,907	–	-0.83%	–
SPG	Exit	SIMON PPTY GROUP INC NEW COM	$0	–	-231,376	–	-0.84%	–
NXST	Exit	NEXSTAR MEDIA GROUP INC COMMON STOCK	$0	–	-125,308	–	-0.84%	–
PEP	Exit	PEPSICO INC COM	$0	–	-130,099	–	-0.86%	–
DRH	Exit	DIAMONDROCK HOSPITALITY CO COM	$0	–	-2,852,288	–	-0.86%	–
CAH	Exit	CARDINAL HEALTH INC COM	$0	–	-331,423	–	-0.89%	–
MRK	Exit	MERCK & CO INC COM	$0	–	-259,839	–	-0.90%	–
TXN	Exit	TEXAS INSTRS INC COM	$0	–	-155,287	–	-0.97%	–
TROX	Exit	TRONOX HOLDINGS PLC SHS	$0	–	-1,962,143	–	-0.97%	–
EQIX	Exit	EQUINIX INC COM	$0	–	-42,724	–	-0.98%	–
KMI	Exit	KINDER MORGAN INC DEL COM	$0	–	-1,494,521	–	-1.00%	–
ARGO	Exit	ARGO GROUP INTL HLDGS LTD COM	$0	–	-1,293,445	–	-1.00%	–
FERG	Exit	FERGUSON PLC NEW SHS	$0	–	-244,700	–	-1.01%	–
ANF	Exit	ABERCROMBIE & FITCH CO CL Acl a	$0	–	-1,664,768	–	-1.04%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N SHS - A -	$0	–	-346,724	–	-1.05%	–
CSCO	Exit	CISCO SYS INC COM	$0	–	-705,834	–	-1.14%	–
LXFR	Exit	LUXFER HLDGS PLC SHS	$0	–	-1,962,019	–	-1.14%	–
DOC	Exit	PHYSICIANS RLTY TR COM	$0	–	-1,956,512	–	-1.18%	–
RY	Exit	ROYAL BK CDA COM	$0	–	-239,852	–	-1.20%	–
RNR	Exit	RENAISSANCERE HLDGS LTD COM	$0	–	-228,711	–	-1.29%	–
SYY	Exit	SYSCO CORP COM	$0	–	-481,573	–	-1.37%	–
AVB	Exit	AVALONBAY CMNTYS INC COM	$0	–	-198,529	–	-1.47%	–
GNTX	Exit	GENTEX CORP COM	$0	–	-1,625,870	–	-1.56%	–
	Exit	QUIDELORTHO CORP COM	$0	–	-549,045	–	-1.58%	–
BLK	Exit	BLACKROCK INC COM	$0	–	-71,496	–	-1.58%	–
CBT	Exit	CABOT CORP COM	$0	–	-644,790	–	-1.66%	–
AMH	Exit	AMERICAN HOMES 4 RENT CL Acl a	$0	–	-1,293,813	–	-1.71%	–
SNBR	Exit	SLEEP NUMBER CORP COM	$0	–	-1,256,520	–	-1.71%	–
TDC	Exit	TERADATA CORP DEL COM	$0	–	-1,378,643	–	-1.72%	–
MWA	Exit	MUELLER WTR PRODS INC COM SER A	$0	–	-4,531,635	–	-1.87%	–
HBAN	Exit	HUNTINGTON BANCSHARES INC COM	$0	–	-3,572,508	–	-1.90%	–
THR	Exit	THERMON GROUP HLDGS INC COM	$0	–	-3,181,537	–	-1.97%	–
EHC	Exit	ENCOMPASS HEALTH CORP COM	$0	–	-1,099,171	–	-2.00%	–
WFG	Exit	WEST FRASER TIMBER CO LTD COM	$0	–	-535,755	–	-2.15%	–
ENS	Exit	ENERSYS COM	$0	–	-931,626	–	-2.18%	–
WTFC	Exit	WINTRUST FINL CORP COM	$0	–	-668,330	–	-2.19%	–
STRA	Exit	STRATEGIC ED INC COM	$0	–	-948,231	–	-2.34%	–
TRIP	Exit	TRIPADVISOR INC COM	$0	–	-2,843,479	–	-2.53%	–
FSLR	Exit	FIRST SOLAR INC COM	$0	–	-551,471	–	-2.94%	–
BC	Exit	BRUNSWICK CORP COM	$0	–	-1,222,272	–	-3.22%	–
JBL	Exit	JABIL INC COM	$0	–	-1,555,601	–	-3.61%	–

Q3 2022

			Value		Shares		↓ Weighting
JBL	Buy	JABIL INC COM	$89,775,000	+13.7%	1,555,601	+0.9%	3.61%	+27.4%
BC	Sell	BRUNSWICK CORP COM	$79,999,000	-5.6%	1,222,272	-5.7%	3.22%	+5.8%
FSLR	Sell	FIRST SOLAR INC COM	$72,944,000	+2.9%	551,471	-47.0%	2.94%	+15.3%
TRIP	Buy	TRIPADVISOR INC COM	$62,785,000	+31.4%	2,843,479	+5.9%	2.53%	+47.3%
STRA	Sell	STRATEGIC ED INC COM	$58,231,000	-17.3%	948,231	-5.0%	2.34%	-7.3%
WTFC	Sell	WINTRUST FINL CORP COM	$54,500,000	-1.8%	668,330	-3.5%	2.19%	+10.0%
ENS	Sell	ENERSYS COM	$54,193,000	-5.1%	931,626	-3.9%	2.18%	+6.3%
WFG	Sell	WEST FRASER TIMBER CO LTD COM	$53,538,000	-2.7%	535,755	-3.8%	2.15%	+9.1%
EHC	Sell	ENCOMPASS HEALTH CORP COM	$49,715,000	-23.3%	1,099,171	-4.9%	2.00%	-14.0%
THR	Sell	THERMON GROUP HLDGS INC COM	$49,028,000	+7.2%	3,181,537	-2.2%	1.97%	+20.2%
HBAN	Sell	HUNTINGTON BANCSHARES INC COM	$47,086,000	+2.6%	3,572,508	-6.3%	1.90%	+15.0%
MWA	Sell	MUELLER WTR PRODS INC COM SER A	$46,539,000	-13.7%	4,531,635	-1.4%	1.87%	-3.3%
TDC	Buy	TERADATA CORP DEL COM	$42,821,000	-10.5%	1,378,643	+6.6%	1.72%	+0.2%
SNBR	Buy	SLEEP NUMBER CORP COM	$42,482,000	+9.7%	1,256,520	+0.4%	1.71%	+22.9%
AMH	Buy	AMERICAN HOMES 4 RENT CL Acl a	$42,452,000	+19.4%	1,293,813	+29.0%	1.71%	+33.8%
CBT	Sell	CABOT CORP COM	$41,196,000	-6.0%	644,790	-6.1%	1.66%	+5.4%
BLK	Sell	BLACKROCK INC COM	$39,343,000	-13.1%	71,496	-3.8%	1.58%	-2.6%
	New	QUIDELORTHO CORP COM	$39,246,000	–	549,045	–	1.58%	–
GNTX	Sell	GENTEX CORP COM	$38,760,000	-17.9%	1,625,870	-3.6%	1.56%	-8.0%
AVB	Sell	AVALONBAY CMNTYS INC COM	$36,566,000	-13.5%	198,529	-8.8%	1.47%	-3.2%
SYY	Sell	SYSCO CORP COM	$34,052,000	-24.0%	481,573	-9.0%	1.37%	-14.9%
RNR	Buy	RENAISSANCERE HLDGS LTD COM	$32,108,000	-8.8%	228,711	+1.6%	1.29%	+2.2%
RY	Sell	ROYAL BK CDA COM	$29,830,000	-3.4%	239,852	-3.2%	1.20%	+8.2%
DOC	Buy	PHYSICIANS RLTY TR COM	$29,425,000	-9.8%	1,956,512	+4.6%	1.18%	+1.1%
LXFR	Sell	LUXFER HLDGS PLC SHS	$28,449,000	-6.1%	1,962,019	-2.1%	1.14%	+5.2%
CSCO	Sell	CISCO SYS INC COM	$28,233,000	-9.3%	705,834	-3.3%	1.14%	+1.6%
LYB	Sell	LYONDELLBASELL INDUSTRIES N SHS - A -	$26,101,000	-16.1%	346,724	-2.6%	1.05%	-6.0%
ANF	Sell	ABERCROMBIE & FITCH CO CL Acl a	$25,886,000	-22.1%	1,664,768	-15.2%	1.04%	-12.7%
FERG	New	FERGUSON PLC NEW SHS	$25,187,000	–	244,700	–	1.01%	–
ARGO	Buy	ARGO GROUP INTL HLDGS LTD COM	$24,911,000	-45.1%	1,293,445	+5.1%	1.00%	-38.5%
KMI	Sell	KINDER MORGAN INC DEL COM	$24,869,000	-11.3%	1,494,521	-10.7%	1.00%	-0.6%
EQIX	Sell	EQUINIX INC COM	$24,304,000	-27.2%	42,724	-15.9%	0.98%	-18.4%
TROX	New	TRONOX HOLDINGS PLC SHS	$24,035,000	–	1,962,143	–	0.97%	–
TXN	Buy	TEXAS INSTRS INC COM	$24,035,000	+32.0%	155,287	+31.1%	0.97%	+47.9%
MRK	Sell	MERCK & CO INC COM	$22,378,000	-19.9%	259,839	-15.2%	0.90%	-10.3%
CAH	Sell	CARDINAL HEALTH INC COM	$22,099,000	+4.5%	331,423	-18.1%	0.89%	+17.0%
DRH	Buy	DIAMONDROCK HOSPITALITY CO COM	$21,420,000	-1.5%	2,852,288	+7.7%	0.86%	+10.4%
PEP	Sell	PEPSICO INC COM	$21,239,000	-19.2%	130,099	-17.5%	0.86%	-9.3%
NXST	Sell	NEXSTAR MEDIA GROUP INC COMMON STOCK	$20,909,000	-13.4%	125,308	-15.5%	0.84%	-3.0%
SPG	Sell	SIMON PPTY GROUP INC NEW COM	$20,766,000	-15.9%	231,376	-11.0%	0.84%	-5.6%
OMC	Buy	OMNICOM GROUP INC COM	$20,561,000	-0.5%	325,907	+0.4%	0.83%	+11.5%
AMED	Buy	AMEDISYS INC COM	$20,046,000	+28.1%	207,104	+39.1%	0.81%	+43.6%
PRU	Sell	PRUDENTIAL FINL INC COM	$19,866,000	-15.5%	231,598	-5.7%	0.80%	-5.3%
GRPU	Sell	GRANITE REAL ESTATE INVT TR UNIT 99/99/9999unit 99/99/9999	$19,843,000	-16.1%	297,640	-0.7%	0.80%	-6.0%
TRTN	Sell	TRITON INTL LTD CL Acl a	$19,632,000	-15.7%	358,711	-18.9%	0.79%	-5.5%
PRGS	Sell	PROGRESS SOFTWARE CORP COM	$19,287,000	-18.7%	453,274	-13.4%	0.78%	-8.8%
KRO	Sell	KRONOS WORLDWIDE INC COM	$19,226,000	-56.7%	2,058,473	-14.7%	0.77%	-51.4%
ARE	Sell	ALEXANDRIA REAL ESTATE EQ IN COM	$18,597,000	-20.1%	132,657	-17.4%	0.75%	-10.5%
MSFT	Sell	MICROSOFT CORP COM	$18,570,000	-20.6%	79,732	-12.4%	0.75%	-11.1%
PEG	Sell	PUBLIC SVC ENTERPRISE GRP IN COM	$18,370,000	-22.7%	326,696	-13.0%	0.74%	-13.5%
DK	Sell	DELEK US HLDGS INC NEW COM	$18,283,000	+0.9%	673,636	-3.9%	0.74%	+13.2%
C	Sell	CITIGROUP INC COM NEW	$17,763,000	-10.6%	426,260	-1.4%	0.72%	+0.1%
ALV	New	AUTOLIV INC COM	$17,597,000	–	264,100	–	0.71%	–
	New	ENHABIT INC COM	$17,038,000	–	1,213,574	–	0.69%	–
GILD	Sell	GILEAD SCIENCES INC COM	$16,894,000	-16.3%	273,848	-16.2%	0.68%	-6.2%
MMC	Sell	MARSH & MCLENNAN COS INC COM	$15,099,000	-5.4%	101,136	-1.6%	0.61%	+6.1%
CHK	Sell	CHESAPEAKE ENERGY CORP COM	$14,668,000	+8.6%	155,693	-6.5%	0.59%	+21.6%
SUI	Sell	SUN CMNTYS INC COM	$14,652,000	-24.7%	108,278	-11.3%	0.59%	-15.5%
PEAK	Buy	HEALTHPEAK PROPERTIES INC COM	$14,631,000	+36.9%	638,350	+54.7%	0.59%	+53.4%
PLD	Sell	PROLOGIS INC. COM	$14,127,000	-31.5%	139,058	-20.7%	0.57%	-23.3%
MA	Sell	MASTERCARD INCORPORATED CL Acl a	$14,031,000	-10.3%	49,345	-0.5%	0.56%	+0.5%
DE	Sell	DEERE & CO COM	$13,993,000	+0.3%	41,912	-10.1%	0.56%	+12.4%
GOOGL	Buy	ALPHABET INC CAP STK CL Acl a	$13,935,000	-12.9%	145,682	+1885.3%	0.56%	-2.3%
STAG	Buy	STAG INDL INC COM	$13,767,000	+15.9%	484,200	+25.8%	0.55%	+29.7%
CUBE	Sell	CUBESMART COM	$13,697,000	-26.5%	341,900	-21.6%	0.55%	-17.6%
REXR	Sell	REXFORD INDL RLTY INC COM	$13,571,000	-14.7%	260,973	-5.5%	0.55%	-4.4%
AEO	Sell	AMERICAN EAGLE OUTFITTERS IN COM	$13,075,000	-31.9%	1,343,585	-21.7%	0.53%	-23.7%
TMO	Sell	THERMO FISHER SCIENTIFIC INC COM	$13,066,000	-7.2%	25,762	-0.6%	0.53%	+4.2%
LXP	Buy	LXP INDUSTRIAL TRUST COM	$12,640,000	+24.1%	1,379,800	+45.4%	0.51%	+39.1%
EL	Sell	LAUDER ESTEE COS INC CL Acl a	$12,131,000	-15.2%	56,185	-0.0%	0.49%	-5.1%
TRNO	Sell	TERRENO RLTY CORP COM	$12,084,000	-21.4%	228,016	-17.3%	0.49%	-12.0%
EXR	Buy	EXTRA SPACE STORAGE INC COM	$11,947,000	+2.1%	69,173	+0.6%	0.48%	+14.5%
PFG	Sell	PRINCIPAL FINANCIAL GROUP IN COM	$11,862,000	-18.0%	164,415	-24.1%	0.48%	-8.1%
BKNG	Sell	BOOKING HOLDINGS INC COM	$11,678,000	-10.1%	7,107	-4.3%	0.47%	+0.9%
HIW	Sell	HIGHWOODS PPTYS INC COM	$11,652,000	-25.0%	432,192	-4.9%	0.47%	-15.9%
AMAT	Buy	APPLIED MATLS INC COM	$11,260,000	-9.0%	137,432	+1.0%	0.45%	+1.8%
IQV	Sell	IQVIA HLDGS INC COM	$11,168,000	-16.6%	61,656	-0.0%	0.45%	-6.7%
PPL	Sell	PPL CORP COM	$11,063,000	-36.5%	436,405	-32.1%	0.44%	-28.9%
VZ	Sell	VERIZON COMMUNICATIONS INC COM	$11,039,000	-37.8%	290,722	-16.8%	0.44%	-30.3%
BNL	Sell	BROADSTONE NET LEASE INC COM	$10,964,000	-27.2%	706,000	-3.9%	0.44%	-18.5%
AMT	Buy	AMERICAN TOWER CORP NEW COM	$10,864,000	+6.7%	50,601	+27.0%	0.44%	+19.4%
NEE	Buy	NEXTERA ENERGY INC COM	$10,695,000	+4.0%	136,402	+2.8%	0.43%	+16.5%
NKE	Sell	NIKE INC CL Bcl b	$10,537,000	-18.8%	126,767	-0.1%	0.42%	-9.0%
SHO	Sell	SUNSTONE HOTEL INVS INC NEW COM	$10,307,000	-8.6%	1,094,075	-3.7%	0.42%	+2.5%
SPGI	Buy	S&P GLOBAL INC COM	$10,082,000	+12.8%	33,021	+24.5%	0.41%	+26.5%
INVH	Sell	INVITATION HOMES INC COM	$9,801,000	-56.8%	290,212	-54.5%	0.39%	-51.7%
IRT	New	INDEPENDENCE RLTY TR INC COM	$9,529,000	–	569,547	–	0.38%	–
HST	Buy	HOST HOTELS & RESORTS INC COM	$8,925,000	+17.7%	562,000	+16.2%	0.36%	+32.0%
AAPL	Sell	APPLE INC COM	$8,703,000	-1.4%	62,977	-2.4%	0.35%	+10.4%
SIGA	Sell	SIGA TECHNOLOGIES INC COM	$8,067,000	-52.3%	783,184	-46.4%	0.32%	-46.5%
	New	HEALTHCARE RLTY TR CL A COM	$8,011,000	–	384,173	–	0.32%	–
MDT	Buy	MEDTRONIC PLC SHS	$8,006,000	-9.0%	99,155	+1.1%	0.32%	+1.9%
SRE	Buy	SEMPRA COM	$7,445,000	+1.3%	49,651	+1.5%	0.30%	+13.6%
CRM	Buy	SALESFORCE INC COM	$6,941,000	+805.0%	48,254	+938.6%	0.28%	+896.4%
CP	Buy	CANADIAN PAC RY LTD COM	$6,647,000	+29.5%	72,085	+26.3%	0.27%	+45.1%
TSM	Buy	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADSsponsored ads	$6,538,000	-15.0%	95,365	+1.3%	0.26%	-4.7%
WMB	Buy	WILLIAMS COS INC COM	$5,844,000	+3.0%	204,105	+12.3%	0.24%	+15.2%
XYL	Sell	XYLEM INC COM	$5,722,000	+5.4%	65,496	-5.7%	0.23%	+17.9%
PTC	Sell	PTC INC COM	$5,671,000	-26.2%	54,216	-25.0%	0.23%	-17.4%
SO	Buy	SOUTHERN CO COM	$5,546,000	+105.6%	81,563	+115.7%	0.22%	+129.9%
V	Sell	VISA INC COM CL Acl a	$4,759,000	-13.2%	26,788	-3.8%	0.19%	-3.0%
SBRA	New	SABRA HEALTH CARE REIT INC COM	$4,539,000	–	346,000	–	0.18%	–
SITC	Sell	SITE CTRS CORP COM	$4,367,000	-20.7%	407,800	-0.3%	0.18%	-11.1%
KRC	Sell	KILROY RLTY CORP COM	$3,933,000	-41.0%	93,400	-26.7%	0.16%	-33.9%
ENB	Sell	ENBRIDGE INC COM	$3,815,000	-15.4%	54,230	-15.7%	0.15%	-4.9%
MCD	Buy	MCDONALDS CORP COM	$3,699,000	-5.1%	16,030	+1.6%	0.15%	+6.4%
CSX	New	CSX CORP COM	$3,272,000	–	122,822	–	0.13%	–
BMY	Buy	BRISTOL-MYERS SQUIBB CO COM	$3,259,000	-3.1%	45,837	+5.0%	0.13%	+8.3%
O	Buy	REALTY INCOME CORP COM	$3,212,000	+251.0%	55,200	+311.9%	0.13%	+290.9%
VRTX	Sell	VERTEX PHARMACEUTICALS INC COM	$3,120,000	-2.7%	10,774	-5.3%	0.13%	+9.6%
MPC	Sell	MARATHON PETE CORP COM	$3,088,000	+15.1%	31,091	-4.8%	0.12%	+29.2%
ACN	Buy	ACCENTURE PLC IRELAND SHS CLASS A	$3,050,000	-1.8%	11,852	+6.0%	0.12%	+9.8%
LOW	Buy	LOWES COS INC COM	$3,067,000	+35.8%	16,332	+26.3%	0.12%	+51.9%
UNP	Sell	UNION PAC CORP COM	$2,997,000	-60.1%	15,382	-56.4%	0.12%	-55.2%
KO	Sell	COCA COLA CO COM	$2,982,000	-21.4%	53,234	-11.8%	0.12%	-11.8%
ANTM	Buy	ELEVANCE HEALTH INC COM	$2,967,000	+0.0%	6,531	+6.2%	0.12%	+11.2%
PAYX	New	PAYCHEX INC COM	$2,875,000	–	25,623	–	0.12%	–
RF	Sell	REGIONS FINANCIAL CORP NEW COM	$2,867,000	+0.5%	142,846	-6.1%	0.12%	+12.7%
CMS	Buy	CMS ENERGY CORP COM	$2,805,000	+57.1%	48,171	+82.2%	0.11%	+76.6%
EA	Buy	ELECTRONIC ARTS INC COM	$2,704,000	+65.3%	23,372	+73.8%	0.11%	+84.7%
DDOG	Buy	DATADOG INC CL A COM	$2,615,000	-4.0%	29,461	+3.0%	0.10%	+7.1%
DLTR	Sell	DOLLAR TREE INC COM	$2,548,000	-17.5%	18,719	-5.5%	0.10%	-7.2%
LRCX	Sell	LAM RESEARCH CORP COM	$2,535,000	-16.6%	6,925	-2.9%	0.10%	-6.4%
REGN	Sell	REGENERON PHARMACEUTICALS COM	$2,512,000	+0.8%	3,646	-13.5%	0.10%	+13.5%
TDW	Buy	TIDEWATER INC NEW COM	$2,489,000	+115.7%	114,723	+109.6%	0.10%	+143.9%
COST	Sell	COSTCO WHSL CORP NEW COM	$2,208,000	-6.2%	4,675	-4.8%	0.09%	+4.7%
PSA	Sell	PUBLIC STORAGE COM	$2,071,000	-15.6%	7,075	-9.9%	0.08%	-5.7%
LIN	Buy	LINDE PLC SHS	$2,068,000	+11.9%	7,672	+19.4%	0.08%	+25.8%
SAFE	New	SAFEHOLD INC COM	$2,029,000	–	76,717	–	0.08%	–
MOH	Sell	MOLINA HEALTHCARE INC COM	$2,022,000	+11.8%	6,130	-5.3%	0.08%	+24.6%
FOX	Sell	FOX CORP CL B COM	$1,996,000	-8.7%	70,042	-4.9%	0.08%	+1.3%
INTU	Buy	INTUIT COM	$1,939,000	+14.3%	5,006	+13.8%	0.08%	+27.9%
IPG	Sell	INTERPUBLIC GROUP COS INC COM	$1,798,000	-32.5%	70,220	-27.4%	0.07%	-25.0%
PCAR	Sell	PACCAR INC COM	$1,757,000	-4.0%	20,996	-5.5%	0.07%	+7.6%
ZI	New	ZOOMINFO TECHNOLOGIES INC COMMON STOCK	$1,685,000	–	40,440	–	0.07%	–
FDS	New	FACTSET RESH SYS INC COM	$1,550,000	–	3,873	–	0.06%	–
HSY	Sell	HERSHEY CO COM	$1,468,000	-2.7%	6,658	-5.0%	0.06%	+9.3%
CFG	Sell	CITIZENS FINL GROUP INC COM	$1,408,000	-8.9%	40,982	-5.4%	0.06%	+1.8%
TRP	Buy	TC ENERGY CORP COM	$1,403,000	-15.4%	25,210	+1.3%	0.06%	-6.7%
PCG	New	PG&E CORP COM	$1,398,000	–	111,853	–	0.06%	–
AMZN	Sell	AMAZON COM INC COM	$1,363,000	-3.2%	12,062	-9.0%	0.06%	+7.8%
EIX	Sell	EDISON INTL COM	$1,256,000	-55.6%	22,195	-50.4%	0.05%	-50.0%
	New	NOBLE CORP NEW ORD SHS A	$1,266,000	–	42,799	–	0.05%	–
ICE	Sell	INTERCONTINENTAL EXCHANGE IN COM	$1,190,000	-8.7%	13,176	-4.9%	0.05%	+2.1%
AES	New	AES CORP COM	$1,042,000	–	46,125	–	0.04%	–
DOV	Sell	DOVER CORP COM	$1,036,000	-30.1%	8,885	-27.3%	0.04%	-20.8%
JOE	Buy	ST JOE CO COM	$1,046,000	-5.6%	32,669	+16.6%	0.04%	+5.0%
EW	Sell	EDWARDS LIFESCIENCES CORP COM	$986,000	-34.1%	11,937	-24.2%	0.04%	-25.9%
STLD	New	STEEL DYNAMICS INC COM	$933,000	–	13,151	–	0.04%	–
BLDR	Sell	BUILDERS FIRSTSOURCE INC COM	$811,000	-1.0%	13,756	-9.8%	0.03%	+13.8%
SBAC	Sell	SBA COMMUNICATIONS CORP NEW CL Acl a	$797,000	-76.3%	2,800	-73.3%	0.03%	-73.6%
IFF	Sell	INTERNATIONAL FLAVORS&FRAGRA COM	$701,000	-33.9%	7,723	-13.3%	0.03%	-26.3%
ATVI	Sell	ACTIVISION BLIZZARD INC COM	$692,000	-22.7%	9,309	-19.0%	0.03%	-12.5%
JPM	Sell	JPMORGAN CHASE & CO COM	$655,000	-87.2%	6,272	-86.2%	0.03%	-85.8%
DIS	Sell	DISNEY WALT CO COM	$565,000	-12.8%	5,993	-12.8%	0.02%	0.0%
UNH	Sell	UNITEDHEALTH GROUP INC COM	$567,000	-13.7%	1,123	-12.2%	0.02%	-4.2%
HD	Sell	HOME DEPOT INC COM	$410,000	-8.7%	1,484	-9.3%	0.02%	0.0%
WFRD	Sell	WEATHERFORD INTL PLC ORD SHS	$403,000	+1.3%	12,480	-33.5%	0.02%	+14.3%
XOM	Sell	EXXON MOBIL CORP COM	$374,000	-9.9%	4,287	-11.5%	0.02%	0.0%
EPR	Buy	EPR PPTYS COM SH BEN INTsh ben int	$359,000	+32.0%	10,000	+72.4%	0.01%	+40.0%
	New	WARNER BROS DISCOVERY INC COM SER A	$331,000	–	28,817	–	0.01%	–
ABT	Sell	ABBOTT LABS COM	$329,000	-21.1%	3,395	-11.5%	0.01%	-13.3%
MSI	New	MOTOROLA SOLUTIONS INC COM NEW	$179,000	–	798	–	0.01%	–
CHRW	Sell	C H ROBINSON WORLDWIDE INC COM NEW	$159,000	-8.1%	1,652	-2.9%	0.01%	0.0%
APLE	Sell	APPLE HOSPITALITY REIT INC COM NEW	$150,000	-24.2%	10,700	-20.7%	0.01%	-14.3%
CAG	Buy	CONAGRA BRANDS INC COM	$130,000	-1.5%	3,981	+3.1%	0.01%	0.0%
RCI	Buy	ROGERS COMMUNICATIONS INC CL Bcl b	$130,000	-2.3%	1,774	+6.5%	0.01%	0.0%
TU	Sell	TELUS CORPORATION COM	$91,000	-4.2%	2,415	-6.4%	0.00%	+33.3%
LLY	Buy	LILLY ELI & CO COM	$64,000	+4.9%	198	+5.9%	0.00%	+50.0%
ULTA	Buy	ULTA BEAUTY INC COM	$84,000	+10.5%	210	+6.1%	0.00%	0.0%
GIL	Sell	GILDAN ACTIVEWEAR INC COM	$79,000	+3.9%	1,474	-7.7%	0.00%	0.0%
DLR	Sell	DIGITAL RLTY TR INC COM	$65,000	-39.3%	658	-20.4%	0.00%	-25.0%
WTRG	New	ESSENTIAL UTILS INC COM	$75,000	–	1,802	–	0.00%	–
K	Sell	KELLOGG CO COM	$55,000	-8.3%	784	-7.2%	0.00%	0.0%
WY	Sell	WEYERHAEUSER CO MTN BE COM NEW	$42,000	-19.2%	1,475	-6.3%	0.00%	0.0%
F	Sell	FORD MTR CO DEL COM	$43,000	-4.4%	3,815	-5.5%	0.00%	0.0%
IBM	Sell	INTERNATIONAL BUSINESS MACHS COM	$43,000	-23.2%	365	-7.8%	0.00%	0.0%
BNS	Sell	BANK NOVA SCOTIA HALIFAX COM	$43,000	-99.0%	474	-98.9%	0.00%	-98.7%
SNA	Sell	SNAP ON INC COM	$46,000	-9.8%	228	-11.6%	0.00%	0.0%
BBY	Sell	BEST BUY INC COM	$30,000	-9.1%	470	-6.6%	0.00%	0.0%
QCOM	Sell	QUALCOMM INC COM	$37,000	-17.8%	328	-7.6%	0.00%	-50.0%
NVDA	Sell	NVIDIA CORPORATION COM	$30,000	-98.7%	248	-98.4%	0.00%	-98.8%
NEM	Sell	NEWMONT CORP COM	$22,000	-98.6%	523	-98.0%	0.00%	-98.2%
JNJ	Sell	JOHNSON & JOHNSON COM	$34,000	-15.0%	209	-7.5%	0.00%	0.0%
HPE	Sell	HEWLETT PACKARD ENTERPRISE C COM	$32,000	-15.8%	2,678	-7.4%	0.00%	0.0%
EXC	Sell	EXELON CORP COM	$26,000	-21.2%	686	-5.1%	0.00%	0.0%
ECL	New	ECOLAB INC COM	$27,000	–	189	–	0.00%	–
CI	Sell	CIGNA CORP NEW COM	$25,000	-37.5%	89	-40.7%	0.00%	0.0%
BAC	Sell	BK OF AMERICA CORP COM	$36,000	-7.7%	1,202	-4.8%	0.00%	0.0%
MELI	Sell	MERCADOLIBRE INC COM	$11,000	-26.7%	13	-45.8%	0.00%	-100.0%
HPP	Sell	HUDSON PAC PPTYS INC COM	$0	-100.0%	1	-100.0%	0.00%	-100.0%
DD	Exit	DUPONT DE NEMOURS INC COM	$0	–	-462	–	-0.00%	–
CCEP	Exit	COCA-COLA EUROPACIFIC PARTNE SHS	$0	–	-500	–	-0.00%	–
BCE	Exit	BCE INC COM NEW	$0	–	-821	–	-0.00%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED COM	$0	–	-199	–	-0.00%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIO CL Acl a	$0	–	-1,465	–	-0.00%	–
WPC	Exit	WP CAREY INC COM	$0	–	-5,700	–	-0.02%	–
NE	Exit	NOBLE CORP NEW SHS	$0	–	-42,799	–	-0.04%	–
DUK	Exit	DUKE ENERGY CORP NEW COM NEW	$0	–	-18,124	–	-0.07%	–
PK	Exit	PARK HOTELS & RESORTS INC COM	$0	–	-171,000	–	-0.08%	–
LHCG	Exit	LHC GROUP INC COM	$0	–	-37,683	–	-0.21%	–
PHI	Exit	PLDT INC SPONSORED ADRadr	$0	–	-223,490	–	-0.24%	–
VICI	Exit	VICI PPTYS INC COM	$0	–	-414,200	–	-0.44%	–
OHI	Exit	OMEGA HEALTHCARE INVS INC COM	$0	–	-492,400	–	-0.50%	–
HR	Exit	HEALTHCARE RLTY TR COM	$0	–	-517,041	–	-0.50%	–
MSM	Exit	MSC INDL DIRECT INC CL Acl a	$0	–	-319,996	–	-0.86%	–
VNQI	Exit	VANGUARD INTL EQUITY INDEX F GLB EX US ETFetf	$0	–	-677,700	–	-1.08%	–
VNQ	Exit	VANGUARD INDEX FDS REAL ESTATE ETFetf	$0	–	-334,150	–	-1.09%	–
VIVO	Exit	MERIDIAN BIOSCIENCE INC COM	$0	–	-1,333,091	–	-1.46%	–

Q2 2022

			Value		Shares		↓ Weighting
BC	New	BRUNSWICK CORP COM	$84,755,000	–	1,296,334	–	3.04%	–
JBL	New	JABIL INC COM	$78,976,000	–	1,542,195	–	2.84%	–
FSLR	New	FIRST SOLAR INC COM	$70,871,000	–	1,040,210	–	2.54%	–
STRA	New	STRATEGIC ED INC COM	$70,414,000	–	997,650	–	2.53%	–
EHC	New	ENCOMPASS HEALTH CORP COM	$64,790,000	–	1,155,944	–	2.33%	–
ENS	New	ENERSYS COM	$57,134,000	–	969,013	–	2.05%	–
WTFC	New	WINTRUST FINL CORP COM	$55,504,000	–	692,499	–	1.99%	–
WFG	New	WEST FRASER TIMBER CO LTD COM	$55,010,000	–	556,953	–	1.98%	–
MWA	New	MUELLER WTR PRODS INC COM SER A	$53,930,000	–	4,597,706	–	1.94%	–
TDC	New	TERADATA CORP DEL COM	$47,863,000	–	1,293,238	–	1.72%	–
TRIP	New	TRIPADVISOR INC COM	$47,775,000	–	2,683,989	–	1.72%	–
GNTX	New	GENTEX CORP COM	$47,193,000	–	1,687,223	–	1.70%	–
HBAN	New	HUNTINGTON BANCSHARES INC COM	$45,884,000	–	3,814,249	–	1.65%	–
THR	New	THERMON GROUP HLDGS INC COM	$45,728,000	–	3,254,670	–	1.64%	–
ARGO	New	ARGO GROUP INTL HLDGS LTD COM	$45,353,000	–	1,230,416	–	1.63%	–
BLK	New	BLACKROCK INC COM	$45,277,000	–	74,342	–	1.63%	–
SYY	New	SYSCO CORP COM	$44,820,000	–	529,099	–	1.61%	–
KRO	New	KRONOS WORLDWIDE INC COM	$44,388,000	–	2,412,391	–	1.59%	–
CBT	New	CABOT CORP COM	$43,803,000	–	686,670	–	1.57%	–
AVB	New	AVALONBAY CMNTYS INC COM	$42,290,000	–	217,707	–	1.52%	–
VIVO	New	MERIDIAN BIOSCIENCE INC COM	$40,553,000	–	1,333,091	–	1.46%	–
SNBR	New	SLEEP NUMBER CORP COM	$38,718,000	–	1,250,959	–	1.39%	–
AMH	New	AMERICAN HOMES 4 RENT CL Acl a	$35,559,000	–	1,003,337	–	1.28%	–
RNR	New	RENAISSANCERE HLDGS LTD COM	$35,198,000	–	225,097	–	1.26%	–
EQIX	New	EQUINIX INC COM	$33,373,000	–	50,795	–	1.20%	–
ANF	New	ABERCROMBIE & FITCH CO CL Acl a	$33,234,000	–	1,964,120	–	1.19%	–
DOC	New	PHYSICIANS RLTY TR COM	$32,625,000	–	1,869,600	–	1.17%	–
CSCO	New	CISCO SYS INC COM	$31,137,000	–	730,255	–	1.12%	–
LYB	New	LYONDELLBASELL INDUSTRIES N SHS - A -	$31,120,000	–	355,810	–	1.12%	–
RY	New	ROYAL BK CDA COM	$30,887,000	–	247,827	–	1.11%	–
VNQ	New	VANGUARD INDEX FDS REAL ESTATE ETFetf	$30,445,000	–	334,150	–	1.09%	–
LXFR	New	LUXFER HOLDINGS PLC SHS	$30,300,000	–	2,003,961	–	1.09%	–
VNQI	New	VANGUARD INTL EQUITY INDEX F GLB EX US ETFetf	$30,002,000	–	677,700	–	1.08%	–
KMI	New	KINDER MORGAN INC DEL COM	$28,053,000	–	1,673,846	–	1.01%	–
MRK	New	MERCK & CO INC COM	$27,922,000	–	306,265	–	1.00%	–
PEP	New	PEPSICO INC COM	$26,270,000	–	157,620	–	0.94%	–
SPG	New	SIMON PPTY GROUP INC NEW COM	$24,684,000	–	260,040	–	0.89%	–
NXST	New	NEXSTAR MEDIA GROUP INC CL Acl a	$24,144,000	–	148,225	–	0.87%	–
MSM	New	MSC INDL DIRECT INC CL Acl a	$24,034,000	–	319,996	–	0.86%	–
PEG	New	PUBLIC SVC ENTERPRISE GRP IN COM	$23,770,000	–	375,618	–	0.85%	–
PRGS	New	PROGRESS SOFTWARE CORP COM	$23,710,000	–	523,417	–	0.85%	–
GRPU	New	GRANITE REAL ESTATE INVT TR UNIT 99/99/9999unit 99/99/9999	$23,656,000	–	299,621	–	0.85%	–
PRU	New	PRUDENTIAL FINL INC COM	$23,499,000	–	245,601	–	0.84%	–
MSFT	New	MICROSOFT CORP COM	$23,387,000	–	91,064	–	0.84%	–
ARE	New	ALEXANDRIA REAL ESTATE EQ IN COM	$23,285,000	–	160,547	–	0.84%	–
TRTN	New	TRITON INTL LTD CL Acl a	$23,291,000	–	442,388	–	0.84%	–
INVH	New	INVITATION HOMES INC COM	$22,690,000	–	637,712	–	0.82%	–
DRH	New	DIAMONDROCK HOSPITALITY CO COM	$21,751,000	–	2,649,462	–	0.78%	–
CAH	New	CARDINAL HEALTH INC COM	$21,154,000	–	404,699	–	0.76%	–
OMC	New	OMNICOM GROUP INC COM	$20,657,000	–	324,747	–	0.74%	–
PLD	New	PROLOGIS INC. COM	$20,630,000	–	175,344	–	0.74%	–
GILD	New	GILEAD SCIENCES INC COM	$20,190,000	–	326,641	–	0.72%	–
C	New	CITIGROUP INC COM NEW	$19,873,000	–	432,120	–	0.71%	–
SUI	New	SUN CMNTYS INC COM	$19,446,000	–	122,026	–	0.70%	–
AEO	New	AMERICAN EAGLE OUTFITTERS IN COM	$19,188,000	–	1,716,279	–	0.69%	–
CUBE	New	CUBESMART COM	$18,623,000	–	435,936	–	0.67%	–
TXN	New	TEXAS INSTRS INC COM	$18,202,000	–	118,463	–	0.65%	–
DK	New	DELEK US HLDGS INC NEW COM	$18,115,000	–	700,972	–	0.65%	–
VZ	New	VERIZON COMMUNICATIONS INC COM	$17,734,000	–	349,425	–	0.64%	–
PPL	New	PPL CORP COM	$17,432,000	–	642,541	–	0.63%	–
SIGA	New	SIGA TECHNOLOGIES INC COM	$16,929,000	–	1,461,871	–	0.61%	–
GOOGL	New	ALPHABET INC CAP STK CL Acl a	$15,992,000	–	7,338	–	0.57%	–
MMC	New	MARSH & MCLENNAN COS INC COM	$15,955,000	–	102,774	–	0.57%	–
REXR	New	REXFORD INDL RLTY INC COM	$15,901,000	–	276,095	–	0.57%	–
HPP	New	HUDSON PAC PPTYS INC COM	$15,857,000	–	1,068,471	–	0.57%	–
MA	New	MASTERCARD INCORPORATED CL Acl a	$15,638,000	–	49,570	–	0.56%	–
AMED	New	AMEDISYS INC COM	$15,646,000	–	148,846	–	0.56%	–
HIW	New	HIGHWOODS PPTYS INC COM	$15,539,000	–	454,471	–	0.56%	–
TRNO	New	TERRENO RLTY CORP COM	$15,366,000	–	275,716	–	0.55%	–
BNL	New	BROADSTONE NET LEASE INC COM	$15,060,000	–	734,300	–	0.54%	–
PFG	New	PRINCIPAL FINANCIAL GROUP IN COM	$14,465,000	–	216,578	–	0.52%	–
EL	New	LAUDER ESTEE COS INC CL Acl a	$14,311,000	–	56,195	–	0.51%	–
TMO	New	THERMO FISHER SCIENTIFIC INC COM	$14,077,000	–	25,911	–	0.50%	–
HR	New	HEALTHCARE RLTY TR COM	$14,063,000	–	517,041	–	0.50%	–
DE	New	DEERE & CO COM	$13,957,000	–	46,605	–	0.50%	–
OHI	New	OMEGA HEALTHCARE INVS INC COM	$13,881,000	–	492,400	–	0.50%	–
CHK	New	CHESAPEAKE ENERGY CORP COM	$13,504,000	–	166,506	–	0.48%	–
IQV	New	IQVIA HLDGS INC COM	$13,384,000	–	61,677	–	0.48%	–
BKNG	New	BOOKING HOLDINGS INC COM	$12,990,000	–	7,427	–	0.47%	–
NKE	New	NIKE INC CL Bcl b	$12,970,000	–	126,907	–	0.47%	–
AMAT	New	APPLIED MATLS INC COM	$12,380,000	–	136,080	–	0.44%	–
VICI	New	VICI PPTYS INC COM	$12,338,000	–	414,200	–	0.44%	–
STAG	New	STAG INDL INC COM	$11,883,000	–	384,800	–	0.43%	–
EXR	New	EXTRA SPACE STORAGE INC COM	$11,698,000	–	68,767	–	0.42%	–
SHO	New	SUNSTONE HOTEL INVS INC NEW COM	$11,272,000	–	1,136,184	–	0.40%	–
PEAK	New	HEALTHPEAK PROPERTIES INC COM	$10,690,000	–	412,600	–	0.38%	–
NEE	New	NEXTERA ENERGY INC COM	$10,280,000	–	132,714	–	0.37%	–
LXP	New	LXP INDUSTRIAL TRUST COM	$10,188,000	–	948,700	–	0.37%	–
AMT	New	AMERICAN TOWER CORP NEW COM	$10,181,000	–	39,834	–	0.37%	–
SPGI	New	S&P GLOBAL INC COM	$8,941,000	–	26,525	–	0.32%	–
AAPL	New	APPLE INC COM	$8,826,000	–	64,556	–	0.32%	–
MDT	New	MEDTRONIC PLC SHS	$8,802,000	–	98,081	–	0.32%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADSsponsored ads	$7,695,000	–	94,128	–	0.28%	–
PTC	New	PTC INC COM	$7,688,000	–	72,295	–	0.28%	–
HST	New	HOST HOTELS & RESORTS INC COM	$7,584,000	–	483,700	–	0.27%	–
UNP	New	UNION PAC CORP COM	$7,517,000	–	35,244	–	0.27%	–
SRE	New	SEMPRA COM	$7,347,000	–	48,894	–	0.26%	–
PHI	New	PLDT INC SPONSORED ADRadr	$6,799,000	–	223,490	–	0.24%	–
KRC	New	KILROY RLTY CORP COM	$6,666,000	–	127,400	–	0.24%	–
AEP	New	AMERICAN ELEC PWR CO INC COM	$6,412,000	–	66,833	–	0.23%	–
LHCG	New	LHC GROUP INC COM	$5,870,000	–	37,683	–	0.21%	–
WMB	New	WILLIAMS COS INC COM	$5,672,000	–	181,726	–	0.20%	–
SITC	New	SITE CTRS CORP COM	$5,509,000	–	409,000	–	0.20%	–
V	New	VISA INC COM CL Acl a	$5,484,000	–	27,855	–	0.20%	–
XYL	New	XYLEM INC COM	$5,430,000	–	69,457	–	0.20%	–
WEC	New	WEC ENERGY GROUP INC COM	$5,326,000	–	52,926	–	0.19%	–
CP	New	CANADIAN PAC RY LTD COM	$5,134,000	–	57,097	–	0.18%	–
JPM	New	JPMORGAN CHASE & CO COM	$5,104,000	–	45,327	–	0.18%	–
LNG	New	CHENIERE ENERGY INC COM NEW	$5,059,000	–	38,027	–	0.18%	–
ETR	New	ENTERGY CORP NEW COM	$4,547,000	–	40,371	–	0.16%	–
ENB	New	ENBRIDGE INC COM	$4,510,000	–	64,335	–	0.16%	–
AWK	New	AMERICAN WTR WKS CO INC NEW COM	$4,341,000	–	29,181	–	0.16%	–
BNS	New	BANK NOVA SCOTIA B C COM	$4,140,000	–	42,136	–	0.15%	–
XEL	New	XCEL ENERGY INC COM	$4,135,000	–	58,435	–	0.15%	–
MCD	New	MCDONALDS CORP COM	$3,897,000	–	15,784	–	0.14%	–
KO	New	COCA COLA CO COM	$3,795,000	–	60,326	–	0.14%	–
SBAC	New	SBA COMMUNICATIONS CORP NEW CL Acl a	$3,361,000	–	10,500	–	0.12%	–
BMY	New	BRISTOL-MYERS SQUIBB CO COM	$3,363,000	–	43,672	–	0.12%	–
VRTX	New	VERTEX PHARMACEUTICALS INC COM	$3,206,000	–	11,379	–	0.12%	–
ACN	New	ACCENTURE PLC IRELAND SHS CLASS A	$3,106,000	–	11,186	–	0.11%	–
DLTR	New	DOLLAR TREE INC COM	$3,088,000	–	19,812	–	0.11%	–
D	New	DOMINION ENERGY INC COM	$3,065,000	–	38,400	–	0.11%	–
LRCX	New	LAM RESEARCH CORP COM	$3,041,000	–	7,135	–	0.11%	–
ANTM	New	ELEVANCE HEALTH INC COM	$2,966,000	–	6,147	–	0.11%	–
RF	New	REGIONS FINANCIAL CORP NEW COM	$2,854,000	–	152,187	–	0.10%	–
EIX	New	EDISON INTL COM	$2,831,000	–	44,762	–	0.10%	–
DDOG	New	DATADOG INC CL A COM	$2,725,000	–	28,614	–	0.10%	–
TRGP	New	TARGA RES CORP COM	$2,732,000	–	45,785	–	0.10%	–
SO	New	SOUTHERN CO COM	$2,697,000	–	37,818	–	0.10%	–
MPC	New	MARATHON PETE CORP COM	$2,684,000	–	32,654	–	0.10%	–
IPG	New	INTERPUBLIC GROUP COS INC COM	$2,664,000	–	96,773	–	0.10%	–
REGN	New	REGENERON PHARMACEUTICALS COM	$2,491,000	–	4,214	–	0.09%	–
PSA	New	PUBLIC STORAGE COM	$2,455,000	–	7,853	–	0.09%	–
COST	New	COSTCO WHSL CORP NEW COM	$2,355,000	–	4,913	–	0.08%	–
CCU	New	COMPANIA CERVECERIAS UNIDAS SPONSORED ADRadr	$2,359,000	–	186,747	–	0.08%	–
PK	New	PARK HOTELS & RESORTS INC COM	$2,321,000	–	171,000	–	0.08%	–
NVDA	New	NVIDIA CORPORATION COM	$2,288,000	–	15,093	–	0.08%	–
LOW	New	LOWES COS INC COM	$2,258,000	–	12,929	–	0.08%	–
FOX	New	FOX CORP CL B COM	$2,187,000	–	73,623	–	0.08%	–
DUK	New	DUKE ENERGY CORP NEW COM NEW	$1,943,000	–	18,124	–	0.07%	–
LIN	New	LINDE PLC SHS	$1,848,000	–	6,428	–	0.07%	–
PCAR	New	PACCAR INC COM	$1,830,000	–	22,223	–	0.07%	–
MOH	New	MOLINA HEALTHCARE INC COM	$1,809,000	–	6,471	–	0.06%	–
CMS	New	CMS ENERGY CORP COM	$1,785,000	–	26,438	–	0.06%	–
INTU	New	INTUIT COM	$1,696,000	–	4,399	–	0.06%	–
TRP	New	TC ENERGY CORP COM	$1,659,000	–	24,878	–	0.06%	–
EA	New	ELECTRONIC ARTS INC COM	$1,636,000	–	13,451	–	0.06%	–
CFG	New	CITIZENS FINL GROUP INC COM	$1,546,000	–	43,310	–	0.06%	–
NEM	New	NEWMONT CORP COM	$1,529,000	–	25,627	–	0.06%	–
HSY	New	HERSHEY CO COM	$1,508,000	–	7,007	–	0.05%	–
EW	New	EDWARDS LIFESCIENCES CORP COM	$1,497,000	–	15,739	–	0.05%	–
	New	DOLE PLC ORD SHS	$1,511,000	–	178,600	–	0.05%	–
DOV	New	DOVER CORP COM	$1,482,000	–	12,217	–	0.05%	–
AMZN	New	AMAZON COM INC COM	$1,408,000	–	13,258	–	0.05%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN COM	$1,303,000	–	13,860	–	0.05%	–
TDW	New	TIDEWATER INC NEW COM	$1,154,000	–	54,723	–	0.04%	–
JOE	New	ST JOE CO COM	$1,108,000	–	28,019	–	0.04%	–
NE	New	NOBLE CORP NEW SHS	$1,085,000	–	42,799	–	0.04%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA COM	$1,061,000	–	8,907	–	0.04%	–
O	New	REALTY INCOME CORP COM	$915,000	–	13,400	–	0.03%	–
ATVI	New	ACTIVISION BLIZZARD INC COM	$895,000	–	11,495	–	0.03%	–
VAL	New	VALARIS LIMITED CL Acl a	$841,000	–	19,899	–	0.03%	–
AER	New	AERCAP HOLDINGS NV SHS	$807,000	–	19,714	–	0.03%	–
BLDR	New	BUILDERS FIRSTSOURCE INC COM	$819,000	–	15,259	–	0.03%	–
CRM	New	SALESFORCE INC COM	$767,000	–	4,646	–	0.03%	–
	New	DIAMOND OFFSHORE DRILLING IN COM	$754,000	–	127,954	–	0.03%	–
UNH	New	UNITEDHEALTH GROUP INC COM	$657,000	–	1,279	–	0.02%	–
DIS	New	DISNEY WALT CO COM	$648,000	–	6,869	–	0.02%	–
GT	New	GOODYEAR TIRE & RUBR CO COM	$581,000	–	54,216	–	0.02%	–
WPC	New	WP CAREY INC COM	$472,000	–	5,700	–	0.02%	–
HD	New	HOME DEPOT INC COM	$449,000	–	1,637	–	0.02%	–
XOM	New	EXXON MOBIL CORP COM	$415,000	–	4,845	–	0.02%	–
ABT	New	ABBOTT LABS COM	$417,000	–	3,837	–	0.02%	–
WFRD	New	WEATHERFORD INTL PLC ORD SHS	$398,000	–	18,778	–	0.01%	–
EPR	New	EPR PPTYS COM SH BEN INTsh ben int	$272,000	–	5,800	–	0.01%	–
APLE	New	APPLE HOSPITALITY REIT INC COM NEW	$198,000	–	13,500	–	0.01%	–
CHRW	New	C H ROBINSON WORLDWIDE INC COM NEW	$173,000	–	1,702	–	0.01%	–
CAG	New	CONAGRA BRANDS INC COM	$132,000	–	3,862	–	0.01%	–
RCI	New	ROGERS COMMUNICATIONS INC CL Bcl b	$133,000	–	1,666	–	0.01%	–
LULU	New	LULULEMON ATHLETICA INC COM	$145,000	–	532	–	0.01%	–
DLR	New	DIGITAL RLTY TR INC COM	$107,000	–	827	–	0.00%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIO CL Acl a	$99,000	–	1,465	–	0.00%	–
FOXA	New	FOX CORP CL A COM	$121,000	–	3,771	–	0.00%	–
NTAP	New	NETAPP INC COM	$122,000	–	1,872	–	0.00%	–
DG	New	DOLLAR GEN CORP NEW COM	$121,000	–	491	–	0.00%	–
ADBE	New	ADOBE SYSTEMS INCORPORATED COM	$73,000	–	199	–	0.00%	–
ULTA	New	ULTA BEAUTY INC COM	$76,000	–	198	–	0.00%	–
GIL	New	GILDAN ACTIVEWEAR INC COM	$76,000	–	1,597	–	0.00%	–
TU	New	TELUS CORPORATION COM	$95,000	–	2,579	–	0.00%	–
QCOM	New	QUALCOMM INC COM	$45,000	–	355	–	0.00%	–
LLY	New	LILLY ELI & CO COM	$61,000	–	187	–	0.00%	–
WY	New	WEYERHAEUSER CO MTN BE COM NEW	$52,000	–	1,575	–	0.00%	–
BCE	New	BCE INC COM NEW	$67,000	–	821	–	0.00%	–
IBM	New	INTERNATIONAL BUSINESS MACHS COM	$56,000	–	396	–	0.00%	–
K	New	KELLOGG CO COM	$60,000	–	845	–	0.00%	–
SNA	New	SNAP ON INC COM	$51,000	–	258	–	0.00%	–
F	New	FORD MTR CO DEL COM	$45,000	–	4,038	–	0.00%	–
BBY	New	BEST BUY INC COM	$33,000	–	503	–	0.00%	–
BAC	New	BK OF AMERICA CORP COM	$39,000	–	1,263	–	0.00%	–
DD	New	DUPONT DE NEMOURS INC COM	$26,000	–	462	–	0.00%	–
CI	New	CIGNA CORP NEW COM	$40,000	–	150	–	0.00%	–
HPE	New	HEWLETT PACKARD ENTERPRISE C COM	$38,000	–	2,893	–	0.00%	–
CCEP	New	COCA-COLA EUROPACIFIC PARTNE SHS	$26,000	–	500	–	0.00%	–
MELI	New	MERCADOLIBRE INC COM	$15,000	–	24	–	0.00%	–
JNJ	New	JOHNSON & JOHNSON COM	$40,000	–	226	–	0.00%	–
EXC	New	EXELON CORP COM	$33,000	–	723	–	0.00%	–

Q4 2021

			Value		Shares		↓ Weighting
BMTX	Exit	BM TECHNOLOGIES INC CL A COM	$0	–	-808	–	0.00%	–
OGN	Exit	ORGANON & CO COMMON STOCK	$0	–	-346	–	0.00%	–
EXC	Exit	EXELON CORP COM	$0	–	-521	–	-0.00%	–
ESS	Exit	ESSEX PPTY TR INC COM	$0	–	-49	–	-0.00%	–
ROP	Exit	ROPER TECHNOLOGIES INC COM	$0	–	-79	–	-0.00%	–
BAC	Exit	BK OF AMERICA CORP COM	$0	–	-942	–	-0.00%	–
GM	Exit	GENERAL MTRS CO COM	$0	–	-681	–	-0.00%	–
STX	Exit	SEAGATE TECHNOLOGY HLDNGS PL ORD SHS	$0	–	-407	–	-0.00%	–
CMI	Exit	CUMMINS INC COM	$0	–	-139	–	-0.00%	–
HPE	Exit	HEWLETT PACKARD ENTERPRISE C COM	$0	–	-3,042	–	-0.00%	–
WY	Exit	WEYERHAEUSER CO MTN BE COM NEW	$0	–	-1,475	–	-0.00%	–
HPQ	Exit	HP INC COM	$0	–	-2,006	–	-0.00%	–
K	Exit	KELLOGG CO COM	$0	–	-653	–	-0.00%	–
CI	Exit	CIGNA CORP NEW COM	$0	–	-331	–	-0.00%	–
MCO	Exit	MOODYS CORP COM	$0	–	-118	–	-0.00%	–
MELI	Exit	MERCADOLIBRE INC COM	$0	–	-31	–	-0.00%	–
CSX	Exit	CSX CORP COM	$0	–	-1,564	–	-0.00%	–
VRTX	Exit	VERTEX PHARMACEUTICALS INC COM	$0	–	-245	–	-0.00%	–
APTV	Exit	APTIV PLC SHS	$0	–	-553	–	-0.00%	–
RCI	Exit	ROGERS COMMUNICATIONS INC CL Bcl b	$0	–	-1,277	–	-0.00%	–
BCE	Exit	BCE INC COM NEW	$0	–	-1,134	–	-0.00%	–
LLY	Exit	LILLY ELI & CO COM	$0	–	-393	–	-0.00%	–
COF	Exit	CAPITAL ONE FINL CORP COM	$0	–	-918	–	-0.01%	–
PPG	Exit	PPG INDS INC COM	$0	–	-1,069	–	-0.01%	–
VAL	Exit	VALARIS LIMITED CL Acl a	$0	–	-4,594	–	-0.01%	–
EA	Exit	ELECTRONIC ARTS INC COM	$0	–	-1,202	–	-0.01%	–
INTC	Exit	INTEL CORP COM	$0	–	-3,329	–	-0.01%	–
TU	Exit	TELUS CORPORATION COM	$0	–	-5,562	–	-0.01%	–
WMT	Exit	WALMART INC COM	$0	–	-1,484	–	-0.01%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DEL CL B NEWdel cl b	$0	–	-700	–	-0.01%	–
CAG	Exit	CONAGRA BRANDS INC COM	$0	–	-5,482	–	-0.01%	–
OTIS	Exit	OTIS WORLDWIDE CORP COM	$0	–	-2,515	–	-0.01%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS COM	$0	–	-1,562	–	-0.01%	–
MWA	Exit	MUELLER WTR PRODS INC COM SER A	$0	–	-13,776	–	-0.01%	–
ACC	Exit	AMERICAN CAMPUS CMNTYS INC COM	$0	–	-4,600	–	-0.01%	–
CL	Exit	COLGATE PALMOLIVE CO COM	$0	–	-2,882	–	-0.01%	–
AON	Exit	AON PLC SHS CL Acl a	$0	–	-984	–	-0.01%	–
AER	Exit	AERCAP HOLDINGS NV SHS	$0	–	-5,200	–	-0.01%	–
C	Exit	CITIGROUP INC COM NEW	$0	–	-4,261	–	-0.01%	–
NFLX	Exit	NETFLIX INC COM	$0	–	-624	–	-0.01%	–
ABT	Exit	ABBOTT LABS COM	$0	–	-3,946	–	-0.02%	–
DD	Exit	DUPONT DE NEMOURS INC COM	$0	–	-7,283	–	-0.02%	–
ES	Exit	EVERSOURCE ENERGY COM	$0	–	-7,091	–	-0.02%	–
UNH	Exit	UNITEDHEALTH GROUP INC COM	$0	–	-1,768	–	-0.02%	–
CMS	Exit	CMS ENERGY CORP COM	$0	–	-11,428	–	-0.02%	–
ATO	Exit	ATMOS ENERGY CORP COM	$0	–	-8,253	–	-0.03%	–
NE	Exit	NOBLE CORP NEW SHS	$0	–	-134,704	–	-0.03%	–
DUK	Exit	DUKE ENERGY CORP NEW COM NEW	$0	–	-9,388	–	-0.03%	–
PSA	Exit	PUBLIC STORAGE COM	$0	–	-3,073	–	-0.03%	–
EIX	Exit	EDISON INTL COM	$0	–	-17,304	–	-0.03%	–
SPGI	Exit	S&P GLOBAL INC COM	$0	–	-2,208	–	-0.03%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA COM	$0	–	-7,419	–	-0.04%	–
TDW	Exit	TIDEWATER INC NEW COM	$0	–	-98,345	–	-0.04%	–
AMZN	Exit	AMAZON COM INC COM	$0	–	-365	–	-0.04%	–
SO	Exit	SOUTHERN CO COM	$0	–	-20,168	–	-0.04%	–
NEM	Exit	NEWMONT CORP COM	$0	–	-23,154	–	-0.04%	–
AMGN	Exit	AMGEN INC COM	$0	–	-6,101	–	-0.05%	–
ZBRA	Exit	ZEBRA TECHNOLOGIES CORPORATI CL Acl a	$0	–	-2,676	–	-0.05%	–
EBAY	Exit	EBAY INC. COM	$0	–	-23,330	–	-0.06%	–
IPG	Exit	INTERPUBLIC GROUP COS INC COM	$0	–	-44,236	–	-0.06%	–
DOV	Exit	DOVER CORP COM	$0	–	-10,496	–	-0.06%	–
AAPL	Exit	APPLE INC COM	$0	–	-12,039	–	-0.06%	–
TSLA	Exit	TESLA INC COM	$0	–	-2,228	–	-0.06%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN COM	$0	–	-15,784	–	-0.06%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO COM	$0	–	-31,790	–	-0.07%	–
LIN	Exit	LINDE PLC SHS	$0	–	-6,874	–	-0.07%	–
INTU	Exit	INTUIT COM	$0	–	-3,820	–	-0.07%	–
DDOG	Exit	DATADOG INC CL A COM	$0	–	-14,528	–	-0.07%	–
JCI	Exit	JOHNSON CTLS INTL PLC SHS	$0	–	-31,165	–	-0.08%	–
NNN	Exit	NATIONAL RETAIL PROPERTIES I COM	$0	–	-49,300	–	-0.08%	–
KO	Exit	COCA COLA CO COM	$0	–	-41,251	–	-0.08%	–
DIS	Exit	DISNEY WALT CO COM	$0	–	-13,229	–	-0.08%	–
TXN	Exit	TEXAS INSTRS INC COM	$0	–	-11,918	–	-0.08%	–
LRCX	Exit	LAM RESEARCH CORP COM	$0	–	-4,107	–	-0.08%	–
PG	Exit	PROCTER AND GAMBLE CO COM	$0	–	-17,666	–	-0.09%	–
ETR	Exit	ENTERGY CORP NEW COM	$0	–	-25,207	–	-0.09%	–
ACN	Exit	ACCENTURE PLC IRELAND SHS CLASS A	$0	–	-7,941	–	-0.09%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED COM	$0	–	-4,584	–	-0.10%	–
ATVI	Exit	ACTIVISION BLIZZARD INC COM	$0	–	-34,123	–	-0.10%	–
TRP	Exit	TC ENERGY CORP COM	$0	–	-47,167	–	-0.10%	–
LOW	Exit	LOWES COS INC COM	$0	–	-14,131	–	-0.10%	–
ENB	Exit	ENBRIDGE INC COM	$0	–	-47,024	–	-0.11%	–
D	Exit	DOMINION ENERGY INC COM	$0	–	-41,356	–	-0.11%	–
MS	Exit	MORGAN STANLEY COM NEW	$0	–	-32,310	–	-0.11%	–
HST	Exit	HOST HOTELS & RESORTS INC COM	$0	–	-202,504	–	-0.12%	–
AWK	Exit	AMERICAN WTR WKS CO INC NEW COM	$0	–	-20,093	–	-0.12%	–
CRM	Exit	SALESFORCE COM INC COM	$0	–	-12,684	–	-0.12%	–
V	Exit	VISA INC COM CL Acl a	$0	–	-15,586	–	-0.12%	–
XEL	Exit	XCEL ENERGY INC COM	$0	–	-57,594	–	-0.13%	–
LNG	Exit	CHENIERE ENERGY INC COM NEW	$0	–	-36,739	–	-0.13%	–
CP	Exit	CANADIAN PAC RY LTD COM	$0	–	-43,630	–	-0.13%	–
NVDA	Exit	NVIDIA CORPORATION COM	$0	–	-17,496	–	-0.13%	–
BNS	Exit	BANK NOVA SCOTIA B C COM	$0	–	-37,641	–	-0.13%	–
HD	Exit	HOME DEPOT INC COM	$0	–	-11,802	–	-0.14%	–
AEP	Exit	AMERICAN ELEC PWR CO INC COM	$0	–	-48,022	–	-0.14%	–
ARE	Exit	ALEXANDRIA REAL ESTATE EQ IN COM	$0	–	-23,300	–	-0.16%	–
SRE	Exit	SEMPRA COM	$0	–	-37,373	–	-0.17%	–
WMB	Exit	WILLIAMS COS INC COM	$0	–	-186,301	–	-0.17%	–
MCD	Exit	MCDONALDS CORP COM	$0	–	-20,303	–	-0.18%	–
JNJ	Exit	JOHNSON & JOHNSON COM	$0	–	-35,590	–	-0.21%	–
XYL	Exit	XYLEM INC COM	$0	–	-47,318	–	-0.21%	–
PTC	Exit	PTC INC COM	$0	–	-49,756	–	-0.21%	–
CCU	Exit	COMPANIA CERVECERIAS UNIDAS SPONSORED ADRadr	$0	–	-350,302	–	-0.22%	–
DLR	Exit	DIGITAL RLTY TR INC COM	$0	–	-42,229	–	-0.22%	–
JPM	Exit	JPMORGAN CHASE & CO COM	$0	–	-38,550	–	-0.23%	–
VTR	Exit	VENTAS INC COM	$0	–	-121,900	–	-0.24%	–
SIGA	Exit	SIGA TECHNOLOGIES INC COM	$0	–	-958,605	–	-0.25%	–
UNP	Exit	UNION PAC CORP COM	$0	–	-36,583	–	-0.26%	–
BBBY	Exit	BED BATH & BEYOND INC COM	$0	–	-455,199	–	-0.28%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADSsponsored ads	$0	–	-74,843	–	-0.30%	–
NEE	Exit	NEXTERA ENERGY INC COM	$0	–	-108,943	–	-0.31%	–
STAG	Exit	STAG INDL INC COM	$0	–	-221,463	–	-0.31%	–
AMT	Exit	AMERICAN TOWER CORP NEW COM	$0	–	-33,001	–	-0.32%	–
PEAK	Exit	HEALTHPEAK PROPERTIES INC COM	$0	–	-267,200	–	-0.32%	–
QDEL	Exit	QUIDEL CORP COM	$0	–	-69,189	–	-0.35%	–
RPAI	Exit	RETAIL PPTYS AMER INC CL Acl a	$0	–	-765,121	–	-0.35%	–
BKNG	Exit	BOOKING HOLDINGS INC COM	$0	–	-4,242	–	-0.36%	–
MDT	Exit	MEDTRONIC PLC SHS	$0	–	-81,513	–	-0.37%	–
VLO	Exit	VALERO ENERGY CORP COM	$0	–	-147,669	–	-0.37%	–
IQV	Exit	IQVIA HLDGS INC COM	$0	–	-44,036	–	-0.38%	–
VIVO	Exit	MERIDIAN BIOSCIENCE INC COM	$0	–	-551,203	–	-0.38%	–
COLD	Exit	AMERICOLD RLTY TR COM	$0	–	-371,600	–	-0.39%	–
APLE	Exit	APPLE HOSPITALITY REIT INC COM NEW	$0	–	-724,400	–	-0.41%	–
ATCO	Exit	ATLAS CORP SHARESshares	$0	–	-752,495	–	-0.41%	–
PRGS	Exit	PROGRESS SOFTWARE CORP COM	$0	–	-242,869	–	-0.43%	–
PHI	Exit	PLDT INC SPONSORED ADRadr	$0	–	-376,809	–	-0.44%	–
REG	Exit	REGENCY CTRS CORP COM	$0	–	-182,700	–	-0.44%	–
NKE	Exit	NIKE INC CL Bcl b	$0	–	-86,175	–	-0.45%	–
TRNO	Exit	TERRENO RLTY CORP COM	$0	–	-200,716	–	-0.46%	–
SHO	Exit	SUNSTONE HOTEL INVS INC NEW COM	$0	–	-1,083,200	–	-0.46%	–
BLK	Exit	BLACKROCK INC COM	$0	–	-15,618	–	-0.47%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC COM	$0	–	-23,070	–	-0.47%	–
EL	Exit	LAUDER ESTEE COS INC CL Acl a	$0	–	-45,475	–	-0.49%	–
MMC	Exit	MARSH & MCLENNAN COS INC COM	$0	–	-90,508	–	-0.49%	–
RWT	Exit	REDWOOD TR INC COM	$0	–	-1,071,679	–	-0.50%	–
AMAT	Exit	APPLIED MATLS INC COM	$0	–	-110,161	–	-0.51%	–
DE	Exit	DEERE & CO COM	$0	–	-42,489	–	-0.51%	–
RWX	Exit	SPDR INDEX SHS FDS DJ INTL RL ETFetf	$0	–	-412,400	–	-0.53%	–
GRPU	Exit	GRANITE REAL ESTATE INVT TR UNIT 99/99/9999unit 99/99/9999	$0	–	-164,300	–	-0.53%	–
EXR	Exit	EXTRA SPACE STORAGE INC COM	$0	–	-96,453	–	-0.58%	–
MA	Exit	MASTERCARD INCORPORATED CL Acl a	$0	–	-48,403	–	-0.60%	–
OFC	Exit	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$0	–	-640,300	–	-0.62%	–
LHCG	Exit	LHC GROUP INC COM	$0	–	-111,856	–	-0.63%	–
CM	Exit	CANADIAN IMP BK COMM COM	$0	–	-125,238	–	-0.63%	–
DRH	Exit	DIAMONDROCK HOSPITALITY CO COM	$0	–	-1,878,438	–	-0.64%	–
PLD	Exit	PROLOGIS INC. COM	$0	–	-146,212	–	-0.66%	–
HIW	Exit	HIGHWOODS PPTYS INC COM	$0	–	-420,569	–	-0.66%	–
EPR	Exit	EPR PPTYS COM SH BEN INTsh ben int	$0	–	-381,500	–	-0.68%	–
HPP	Exit	HUDSON PAC PPTYS INC COM	$0	–	-745,845	–	-0.70%	–
AEO	Exit	AMERICAN EAGLE OUTFITTERS IN COM	$0	–	-769,634	–	-0.71%	–
PPL	Exit	PPL CORP COM	$0	–	-715,336	–	-0.72%	–
HR	Exit	HEALTHCARE RLTY TR COM	$0	–	-681,509	–	-0.73%	–
DOC	Exit	PHYSICIANS RLTY TR COM	$0	–	-1,193,200	–	-0.76%	–
PFG	Exit	PRINCIPAL FINANCIAL GROUP IN COM	$0	–	-330,398	–	-0.76%	–
SITC	Exit	SITE CTRS CORP COM	$0	–	-1,380,800	–	-0.77%	–
OHI	Exit	OMEGA HEALTHCARE INVS INC COM	$0	–	-724,300	–	-0.78%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N SHS - A -	$0	–	-233,233	–	-0.79%	–
REXR	Exit	REXFORD INDL RLTY INC COM	$0	–	-385,800	–	-0.79%	–
MSM	Exit	MSC INDL DIRECT INC CL Acl a	$0	–	-281,927	–	-0.81%	–
COR	Exit	CORESITE RLTY CORP COM	$0	–	-163,400	–	-0.81%	–
PEG	Exit	PUBLIC SVC ENTERPRISE GRP IN COM	$0	–	-373,742	–	-0.82%	–
DK	Exit	DELEK US HLDGS INC NEW COM	$0	–	-1,278,308	–	-0.82%	–
CAH	Exit	CARDINAL HEALTH INC COM	$0	–	-464,828	–	-0.83%	–
USB	Exit	US BANCORP DEL COM NEW	$0	–	-388,895	–	-0.83%	–
TRTN	Exit	TRITON INTL LTD CL Acl a	$0	–	-444,141	–	-0.83%	–
GOOGL	Exit	ALPHABET INC CAP STK CL Acl a	$0	–	-8,685	–	-0.83%	–
MSFT	Exit	MICROSOFT CORP COM	$0	–	-82,649	–	-0.84%	–
SKM	Exit	SK TELECOM LTD SPONSORED ADRadr	$0	–	-776,142	–	-0.84%	–
PRU	Exit	PRUDENTIAL FINL INC COM	$0	–	-224,775	–	-0.85%	–
GILD	Exit	GILEAD SCIENCES INC COM	$0	–	-343,125	–	-0.86%	–
CUBE	Exit	CUBESMART COM	$0	–	-497,232	–	-0.86%	–
VZ	Exit	VERIZON COMMUNICATIONS INC COM	$0	–	-445,866	–	-0.86%	–
TRIP	Exit	TRIPADVISOR INC COM	$0	–	-741,262	–	-0.90%	–
WPC	Exit	WP CAREY INC COM	$0	–	-345,000	–	-0.90%	–
OMC	Exit	OMNICOM GROUP INC COM	$0	–	-348,463	–	-0.91%	–
CBT	Exit	CABOT CORP COM	$0	–	-508,507	–	-0.92%	–
MRK	Exit	MERCK & CO INC COM	$0	–	-354,574	–	-0.96%	–
PEP	Exit	PEPSICO INC COM	$0	–	-188,062	–	-1.02%	–
SUI	Exit	SUN CMNTYS INC COM	$0	–	-154,403	–	-1.03%	–
TRN	Exit	TRINITY INDS INC COM	$0	–	-1,063,705	–	-1.04%	–
INVH	Exit	INVITATION HOMES INC COM	$0	–	-782,212	–	-1.08%	–
RY	Exit	ROYAL BK CDA COM	$0	–	-239,587	–	-1.08%	–
RNR	Exit	RENAISSANCERE HLDGS LTD COM	$0	–	-218,714	–	-1.10%	–
SYY	Exit	SYSCO CORP COM	$0	–	-393,596	–	-1.11%	–
EHC	Exit	ENCOMPASS HEALTH CORP COM	$0	–	-415,550	–	-1.12%	–
GNTX	Exit	GENTEX CORP COM	$0	–	-1,029,846	–	-1.22%	–
KRO	Exit	KRONOS WORLDWIDE INC COM	$0	–	-2,925,358	–	-1.30%	–
CSCO	Exit	CISCO SYS INC COM	$0	–	-680,204	–	-1.33%	–
LXFR	Exit	LUXFER HOLDINGS PLC SHS	$0	–	-1,970,744	–	-1.39%	–
WTFC	Exit	WINTRUST FINL CORP COM	$0	–	-483,773	–	-1.40%	–
ENS	Exit	ENERSYS COM	$0	–	-561,556	–	-1.50%	–
STRA	Exit	STRATEGIC ED INC COM	$0	–	-599,465	–	-1.52%	–
ARGO	Exit	ARGO GROUP INTL HLDGS LTD COM	$0	–	-813,345	–	-1.53%	–
FSLR	Exit	FIRST SOLAR INC COM	$0	–	-448,680	–	-1.54%	–
SNBR	Exit	SLEEP NUMBER CORP COM	$0	–	-464,787	–	-1.56%	–
EQIX	Exit	EQUINIX INC COM	$0	–	-57,461	–	-1.63%	–
TDC	Exit	TERADATA CORP DEL COM	$0	–	-917,864	–	-1.89%	–
THR	Exit	THERMON GROUP HLDGS INC COM	$0	–	-3,282,670	–	-2.04%	–
AVB	Exit	AVALONBAY CMNTYS INC COM	$0	–	-270,973	–	-2.16%	–
HBAN	Exit	HUNTINGTON BANCSHARES INC COM	$0	–	-3,999,046	–	-2.22%	–
JBL	Exit	JABIL INC COM	$0	–	-1,060,708	–	-2.22%	–
BC	Exit	BRUNSWICK CORP COM	$0	–	-681,362	–	-2.33%	–
ANF	Exit	ABERCROMBIE & FITCH CO CL Acl a	$0	–	-1,810,922	–	-2.45%	–
WFG	Exit	WEST FRASER TIMBER CO LTD COM	$0	–	-834,345	–	-3.20%	–
VNQI	Exit	VANGUARD INTL EQUITY INDEX F GLB EX US ETFetf	$0	–	-1,742,200	–	-3.52%	–
VNQ	Exit	VANGUARD INDEX FDS REAL ESTATE ETFetf	$0	–	-1,130,900	–	-4.14%	–

Q3 2021

			Value		Shares		↓ Weighting
VNQ	Sell	VANGUARD INDEX FDS REAL ESTATE ETFetf	$115,103,000	-26.8%	1,130,900	-26.8%	4.14%	-26.3%
VNQI	Buy	VANGUARD INTL EQUITY INDEX F GLB EX US ETFetf	$98,104,000	-2.1%	1,742,200	+1.4%	3.52%	-1.5%
WFG	Buy	WEST FRASER TIMBER CO LTD COM	$89,008,000	+22.4%	834,345	+2.1%	3.20%	+23.2%
ANF	Buy	ABERCROMBIE & FITCH CO CL Acl a	$68,145,000	-6.8%	1,810,922	+15.0%	2.45%	-6.2%
BC	Buy	BRUNSWICK CORP COM	$64,914,000	+0.5%	681,362	+5.1%	2.33%	+1.2%
JBL	Sell	JABIL INC COM	$61,914,000	-8.1%	1,060,708	-8.5%	2.22%	-7.4%
HBAN	Buy	HUNTINGTON BANCSHARES INC COM	$61,825,000	+40.5%	3,999,046	+29.7%	2.22%	+41.5%
AVB	Sell	AVALONBAY CMNTYS INC COM	$60,057,000	+1.1%	270,973	-4.8%	2.16%	+1.7%
THR	Buy	THERMON GROUP HLDGS INC COM	$56,823,000	+6.5%	3,282,670	+4.8%	2.04%	+7.3%
TDC	Sell	TERADATA CORP DEL COM	$52,640,000	-2.8%	917,864	-15.3%	1.89%	-2.2%
EQIX	Buy	EQUINIX INC COM	$45,401,000	+62.1%	57,461	+64.7%	1.63%	+63.3%
SNBR	Buy	SLEEP NUMBER CORP COM	$43,448,000	+14.8%	464,787	+35.1%	1.56%	+15.6%
FSLR	Sell	FIRST SOLAR INC COM	$42,831,000	-2.7%	448,680	-7.7%	1.54%	-2.0%
ARGO	Sell	ARGO GROUP INTL HLDGS LTD COM	$42,473,000	-1.8%	813,345	-2.5%	1.53%	-1.0%
STRA	Buy	STRATEGIC ED INC COM	$42,262,000	-2.2%	599,465	+5.5%	1.52%	-1.6%
ENS	Buy	ENERSYS COM	$41,803,000	-11.0%	561,556	+16.8%	1.50%	-10.4%
WTFC	Buy	WINTRUST FINL CORP COM	$38,881,000	+24.0%	483,773	+16.7%	1.40%	+24.8%
LXFR	Buy	LUXFER HOLDINGS PLC SHS	$38,685,000	-8.6%	1,970,744	+3.6%	1.39%	-7.9%
CSCO	Buy	CISCO SYS INC COM	$37,024,000	+4.4%	680,204	+1.7%	1.33%	+5.1%
KRO	Buy	KRONOS WORLDWIDE INC COM	$36,304,000	-7.1%	2,925,358	+7.1%	1.30%	-6.5%
GNTX	Buy	GENTEX CORP COM	$33,964,000	+18.8%	1,029,846	+19.2%	1.22%	+19.6%
EHC	Buy	ENCOMPASS HEALTH CORP COM	$31,183,000	+13.8%	415,550	+18.3%	1.12%	+14.5%
SYY	Buy	SYSCO CORP COM	$30,898,000	+400.4%	393,596	+395.6%	1.11%	+404.5%
RNR	Sell	RENAISSANCERE HLDGS LTD COM	$30,489,000	-13.5%	218,714	-7.7%	1.10%	-13.0%
RY	Buy	ROYAL BK CDA COM	$30,195,000	+0.6%	239,587	+0.3%	1.08%	+1.3%
INVH	Sell	INVITATION HOMES INC COM	$29,983,000	+1.4%	782,212	-1.3%	1.08%	+2.1%
TRN	Buy	TRINITY INDS INC COM	$28,901,000	+4.4%	1,063,705	+3.3%	1.04%	+5.1%
SUI	Buy	SUN CMNTYS INC COM	$28,581,000	+76.8%	154,403	+63.7%	1.03%	+78.0%
PEP	Sell	PEPSICO INC COM	$28,286,000	-5.3%	188,062	-6.7%	1.02%	-4.6%
MRK	Buy	MERCK & CO INC COM	$26,632,000	-2.2%	354,574	+1.3%	0.96%	-1.4%
CBT	Buy	CABOT CORP COM	$25,487,000	+0.9%	508,507	+14.6%	0.92%	+1.7%
OMC	Sell	OMNICOM GROUP INC COM	$25,250,000	-10.7%	348,463	-1.4%	0.91%	-10.1%
WPC	Buy	WP CAREY INC COM	$25,199,000	+1.9%	345,000	+3.9%	0.90%	+2.6%
TRIP	Buy	TRIPADVISOR INC COM	$25,092,000	+79.0%	741,262	+113.1%	0.90%	+80.2%
CUBE	Sell	CUBESMART COM	$24,091,000	-7.5%	497,232	-11.6%	0.86%	-7.0%
VZ	Sell	VERIZON COMMUNICATIONS INC COM	$24,081,000	-7.0%	445,866	-3.5%	0.86%	-6.4%
GILD	Sell	GILEAD SCIENCES INC COM	$23,967,000	-4.1%	343,125	-5.5%	0.86%	-3.5%
PRU	Sell	PRUDENTIAL FINL INC COM	$23,647,000	-3.9%	224,775	-6.4%	0.85%	-3.3%
MSFT	Buy	MICROSOFT CORP COM	$23,300,000	+9.6%	82,649	+3.4%	0.84%	+10.4%
GOOGL	Buy	ALPHABET INC CAP STK CL Acl a	$23,220,000	+31.2%	8,685	+19.8%	0.83%	+32.2%
TRTN	Sell	TRITON INTL LTD CL Acl a	$23,112,000	-6.0%	444,141	-5.5%	0.83%	-5.5%
USB	Sell	US BANCORP DEL COM NEW	$23,117,000	+1.9%	388,895	-2.4%	0.83%	+2.5%
CAH	Buy	CARDINAL HEALTH INC COM	$22,990,000	-13.2%	464,828	+0.1%	0.83%	-12.6%
PEG	Sell	PUBLIC SVC ENTERPRISE GRP IN COM	$22,761,000	-1.4%	373,742	-3.2%	0.82%	-0.6%
COR	Sell	CORESITE RLTY CORP COM	$22,638,000	+2.2%	163,400	-0.7%	0.81%	+2.9%
MSM	Buy	MSC INDL DIRECT INC CL Acl a	$22,607,000	-8.1%	281,927	+2.9%	0.81%	-7.5%
LYB	Sell	LYONDELLBASELL INDUSTRIES N SHS - A -	$21,888,000	-11.5%	233,233	-3.0%	0.79%	-10.9%
REXR	Sell	REXFORD INDL RLTY INC COM	$21,894,000	-5.8%	385,800	-5.4%	0.79%	-5.2%
OHI	New	OMEGA HEALTHCARE INVS INC COM	$21,700,000	–	724,300	–	0.78%	–
SITC	Buy	SITE CTRS CORP COM	$21,318,000	+2.9%	1,380,800	+0.4%	0.77%	+3.7%
PFG	Sell	PRINCIPAL FINANCIAL GROUP IN COM	$21,277,000	-5.3%	330,398	-7.1%	0.76%	-4.7%
DOC	Buy	PHYSICIANS RLTY TR COM	$21,024,000	+22.0%	1,193,200	+27.9%	0.76%	+22.8%
HR	Buy	HEALTHCARE RLTY TR COM	$20,296,000	+5.1%	681,509	+6.6%	0.73%	+5.8%
PPL	Sell	PPL CORP COM	$19,944,000	-7.6%	715,336	-7.3%	0.72%	-7.0%
AEO	Buy	AMERICAN EAGLE OUTFITTERS IN COM	$19,856,000	+32.9%	769,634	+93.4%	0.71%	+33.8%
HPP	Buy	HUDSON PAC PPTYS INC COM	$19,593,000	-0.6%	745,845	+5.3%	0.70%	+0.1%
EPR	Buy	EPR PPTYS COM SH BEN INTsh ben int	$18,838,000	+220.4%	381,500	+241.8%	0.68%	+222.4%
HIW	Buy	HIGHWOODS PPTYS INC COM	$18,447,000	+57.7%	420,569	+62.4%	0.66%	+59.0%
PLD	Sell	PROLOGIS INC. COM	$18,338,000	+4.4%	146,212	-0.5%	0.66%	+5.1%
DRH	Buy	DIAMONDROCK HOSPITALITY CO COM	$17,751,000	+2.6%	1,878,438	+5.4%	0.64%	+3.4%
CM	Buy	CANADIAN IMP BK COMM COM	$17,659,000	+1.5%	125,238	+1.6%	0.63%	+2.1%
LHCG	Buy	LHC GROUP INC COM	$17,552,000	-16.6%	111,856	+6.4%	0.63%	-16.0%
OFC	Sell	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$17,275,000	-8.5%	640,300	-5.1%	0.62%	-7.7%
MA	Buy	MASTERCARD INCORPORATED CL Acl a	$16,828,000	+32.0%	48,403	+38.6%	0.60%	+33.0%
EXR	Buy	EXTRA SPACE STORAGE INC COM	$16,202,000	+25.2%	96,453	+22.1%	0.58%	+26.0%
GRPU	Sell	GRANITE REAL ESTATE INVT TR UNIT 99/99/9999unit 99/99/9999	$14,800,000	-63.4%	164,300	-66.5%	0.53%	-63.1%
RWX	Sell	SPDR INDEX SHS FDS DJ INTL RL ETFetf	$14,640,000	-63.3%	412,400	-62.1%	0.53%	-63.1%
DE	Buy	DEERE & CO COM	$14,236,000	+25.7%	42,489	+32.4%	0.51%	+26.5%
AMAT	Buy	APPLIED MATLS INC COM	$14,181,000	+22.7%	110,161	+35.8%	0.51%	+23.5%
MMC	Buy	MARSH & MCLENNAN COS INC COM	$13,706,000	+37.3%	90,508	+27.5%	0.49%	+38.2%
EL	Buy	LAUDER ESTEE COS INC CL Acl a	$13,639,000	+29.0%	45,475	+36.8%	0.49%	+30.0%
TMO	Buy	THERMO FISHER SCIENTIFIC INC COM	$13,181,000	+61.9%	23,070	+42.9%	0.47%	+62.5%
BLK	Buy	BLACKROCK INC COM	$13,097,000	+20.6%	15,618	+25.8%	0.47%	+21.4%
SHO	Sell	SUNSTONE HOTEL INVS INC NEW COM	$12,934,000	-26.4%	1,083,200	-23.4%	0.46%	-25.8%
TRNO	Buy	TERRENO RLTY CORP COM	$12,691,000	+506.9%	200,716	+519.2%	0.46%	+508.0%
NKE	Buy	NIKE INC CL Bcl b	$12,515,000	+30.0%	86,175	+38.3%	0.45%	+30.8%
REG	Buy	REGENCY CTRS CORP COM	$12,301,000	+6.5%	182,700	+1.4%	0.44%	+7.3%
PHI	Sell	PLDT INC SPONSORED ADRadr	$12,273,000	+8.2%	376,809	-12.7%	0.44%	+8.9%
PRGS	New	PROGRESS SOFTWARE CORP COM	$11,947,000	–	242,869	–	0.43%	–
ATCO	Sell	ATLAS CORP SHARESshares	$11,431,000	-4.6%	752,495	-10.5%	0.41%	-3.7%
APLE	New	APPLE HOSPITALITY REIT INC COM NEW	$11,396,000	–	724,400	–	0.41%	–
COLD	Sell	AMERICOLD RLTY TR COM	$10,795,000	-50.2%	371,600	-35.1%	0.39%	-49.9%
VIVO	Buy	MERIDIAN BIOSCIENCE INC COM	$10,605,000	+15.4%	551,203	+33.0%	0.38%	+16.2%
IQV	Buy	IQVIA HLDGS INC COM	$10,548,000	+34.1%	44,036	+35.7%	0.38%	+34.9%
VLO	Buy	VALERO ENERGY CORP COM	$10,421,000	-5.7%	147,669	+4.3%	0.37%	-5.1%
MDT	Buy	MEDTRONIC PLC SHS	$10,218,000	+12.1%	81,513	+8.0%	0.37%	+12.9%
BKNG	Buy	BOOKING HOLDINGS INC COM	$10,070,000	+44.4%	4,242	+30.5%	0.36%	+45.4%
RPAI	Sell	RETAIL PPTYS AMER INC CL Acl a	$9,854,000	-6.6%	765,121	-16.9%	0.35%	-5.9%
QDEL	Sell	QUIDEL CORP COM	$9,766,000	-15.3%	69,189	-23.1%	0.35%	-14.6%
PEAK	New	HEALTHPEAK PROPERTIES INC COM	$8,946,000	–	267,200	–	0.32%	–
AMT	Buy	AMERICAN TOWER CORP NEW COM	$8,759,000	+5.3%	33,001	+7.1%	0.32%	+6.1%
STAG	Sell	STAG INDL INC COM	$8,692,000	-62.5%	221,463	-64.2%	0.31%	-62.2%
NEE	Buy	NEXTERA ENERGY INC COM	$8,554,000	+48.8%	108,943	+38.9%	0.31%	+49.8%
TSM	Buy	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADSsponsored ads	$8,356,000	+9.8%	74,843	+18.2%	0.30%	+10.7%
BBBY	Buy	BED BATH & BEYOND INC COM	$7,864,000	+10.1%	455,199	+112.2%	0.28%	+10.6%
UNP	Buy	UNION PAC CORP COM	$7,171,000	+24.0%	36,583	+39.2%	0.26%	+25.2%
SIGA	New	SIGA TECHNOLOGIES INC COM	$7,084,000	–	958,605	–	0.25%	–
VTR	Sell	VENTAS INC COM	$6,730,000	-75.9%	121,900	-75.1%	0.24%	-75.7%
JPM	Sell	JPMORGAN CHASE & CO COM	$6,311,000	+2.3%	38,550	-9.5%	0.23%	+3.2%
DLR	Sell	DIGITAL RLTY TR INC COM	$6,100,000	-54.8%	42,229	-53.0%	0.22%	-54.6%
CCU	Buy	COMPANIA CERVECERIAS UNIDAS SPONSORED ADRadr	$6,057,000	+34.7%	350,302	+35.9%	0.22%	+36.2%
PTC	Buy	PTC INC COM	$5,960,000	+19.8%	49,756	+41.3%	0.21%	+20.2%
XYL	Buy	XYLEM INC COM	$5,852,000	+44.4%	47,318	+40.1%	0.21%	+44.8%
JNJ	Buy	JOHNSON & JOHNSON COM	$5,748,000	+17.7%	35,590	+20.0%	0.21%	+18.4%
MCD	Sell	MCDONALDS CORP COM	$4,896,000	-10.5%	20,303	-17.6%	0.18%	-9.7%
WMB	Buy	WILLIAMS COS INC COM	$4,832,000	+111.0%	186,301	+116.0%	0.17%	+112.2%
SRE	Buy	SEMPRA COM	$4,727,000	+20.3%	37,373	+26.0%	0.17%	+21.4%
ARE	New	ALEXANDRIA REAL ESTATE EQ IN COM	$4,453,000	–	23,300	–	0.16%	–
AEP	Buy	AMERICAN ELEC PWR CO INC COM	$3,898,000	+14.8%	48,022	+19.7%	0.14%	+15.7%
HD	Sell	HOME DEPOT INC COM	$3,874,000	-23.3%	11,802	-29.9%	0.14%	-22.8%
BNS	Buy	BANK NOVA SCOTIA B C COM	$3,718,000	+0.0%	37,641	+1.1%	0.13%	+0.8%
CP	Buy	CANADIAN PAC RY LTD COM	$3,609,000	+22.4%	43,630	+41.0%	0.13%	+23.8%
NVDA	Sell	NVIDIA CORPORATION COM	$3,624,000	-40.4%	17,496	-14.2%	0.13%	-40.1%
LNG	Buy	CHENIERE ENERGY INC COM NEW	$3,588,000	+37.7%	36,739	+22.3%	0.13%	+38.7%
XEL	Buy	XCEL ENERGY INC COM	$3,600,000	+26.8%	57,594	+33.7%	0.13%	+27.7%
V	Sell	VISA INC COM CL Acl a	$3,471,000	-29.0%	15,586	-28.5%	0.12%	-28.2%
CRM	Buy	SALESFORCE COM INC COM	$3,441,000	+60.4%	12,684	+44.4%	0.12%	+61.0%
AWK	Buy	AMERICAN WTR WKS CO INC NEW COM	$3,397,000	+21.5%	20,093	+10.8%	0.12%	+22.0%
HST	Sell	HOST HOTELS & RESORTS INC COM	$3,307,000	-78.9%	202,504	-77.9%	0.12%	-78.7%
MS	Sell	MORGAN STANLEY COM NEW	$3,144,000	-18.6%	32,310	-23.3%	0.11%	-18.1%
ENB	Buy	ENBRIDGE INC COM	$3,006,000	+5.6%	47,024	+1.6%	0.11%	+5.9%
D	Buy	DOMINION ENERGY INC COM	$3,020,000	+89.8%	41,356	+91.3%	0.11%	+89.5%
TRP	Sell	TC ENERGY CORP COM	$2,875,000	-32.3%	47,167	-31.9%	0.10%	-32.2%
LOW	Buy	LOWES COS INC COM	$2,867,000	+7.7%	14,131	+2.9%	0.10%	+8.4%
ADBE	Buy	ADOBE SYSTEMS INCORPORATED COM	$2,639,000	+0.1%	4,584	+1.8%	0.10%	+1.1%
ATVI	Buy	ACTIVISION BLIZZARD INC COM	$2,641,000	+35.8%	34,123	+67.4%	0.10%	+37.7%
ACN	Buy	ACCENTURE PLC IRELAND SHS CLASS A	$2,540,000	+9.8%	7,941	+1.2%	0.09%	+9.6%
ETR	Buy	ENTERGY CORP NEW COM	$2,503,000	+100.7%	25,207	+101.5%	0.09%	+104.5%
PG	Sell	PROCTER AND GAMBLE CO COM	$2,470,000	-39.8%	17,666	-45.1%	0.09%	-39.0%
LRCX	Buy	LAM RESEARCH CORP COM	$2,337,000	-10.1%	4,107	+2.7%	0.08%	-9.7%
TXN	Buy	TEXAS INSTRS INC COM	$2,291,000	+74.1%	11,918	+74.2%	0.08%	+74.5%
DIS	Sell	DISNEY WALT CO COM	$2,238,000	-32.0%	13,229	-33.3%	0.08%	-31.6%
KO	Sell	COCA COLA CO COM	$2,164,000	-43.2%	41,251	-44.6%	0.08%	-42.6%
JCI	Sell	JOHNSON CTLS INTL PLC SHS	$2,122,000	-50.7%	31,165	-54.0%	0.08%	-50.3%
NNN	New	NATIONAL RETAIL PROPERTIES I COM	$2,129,000	–	49,300	–	0.08%	–
INTU	Buy	INTUIT COM	$2,061,000	+10.5%	3,820	+0.3%	0.07%	+10.4%
DDOG	Sell	DATADOG INC CL A COM	$2,054,000	+30.3%	14,528	-4.0%	0.07%	+32.1%
LIN	Buy	LINDE PLC SHS	$2,017,000	+2.3%	6,874	+0.8%	0.07%	+2.9%
BMY	Buy	BRISTOL-MYERS SQUIBB CO COM	$1,881,000	-7.7%	31,790	+4.2%	0.07%	-6.8%
ICE	Buy	INTERCONTINENTAL EXCHANGE IN COM	$1,812,000	-3.0%	15,784	+0.3%	0.06%	-3.0%
TSLA	Sell	TESLA INC COM	$1,728,000	+10.7%	2,228	-3.0%	0.06%	+10.7%
AAPL	Sell	APPLE INC COM	$1,703,000	-51.9%	12,039	-57.7%	0.06%	-51.6%
DOV	Buy	DOVER CORP COM	$1,632,000	+4.4%	10,496	+1.1%	0.06%	+5.4%
EBAY	Buy	EBAY INC. COM	$1,625,000	+0.6%	23,330	+1.4%	0.06%	0.0%
IPG	Buy	INTERPUBLIC GROUP COS INC COM	$1,622,000	+1953.2%	44,236	+1711.5%	0.06%	+1833.3%
ZBRA	New	ZEBRA TECHNOLOGIES CORPORATI CL Acl a	$1,379,000	–	2,676	–	0.05%	–
AMGN	Buy	AMGEN INC COM	$1,297,000	-11.4%	6,101	+1.6%	0.05%	-9.6%
SO	Buy	SOUTHERN CO COM	$1,250,000	+62.8%	20,168	+58.9%	0.04%	+66.7%
NEM	Buy	NEWMONT CORP COM	$1,257,000	-13.1%	23,154	+1.5%	0.04%	-13.5%
TDW	Buy	TIDEWATER INC NEW COM	$1,186,000	+178.4%	98,345	+120.2%	0.04%	+186.7%
AMZN	Sell	AMAZON COM INC COM	$1,199,000	-40.6%	365	-44.4%	0.04%	-40.3%
IFF	New	INTERNATIONAL FLAVORS&FRAGRA COM	$992,000	–	7,419	–	0.04%	–
SPGI	New	S&P GLOBAL INC COM	$938,000	–	2,208	–	0.03%	–
EIX	Sell	EDISON INTL COM	$960,000	-32.6%	17,304	-29.7%	0.03%	-33.3%
PSA	Sell	PUBLIC STORAGE COM	$913,000	-95.8%	3,073	-95.7%	0.03%	-95.7%
NE	Buy	NOBLE CORP NEW SHS	$758,000	-53.5%	134,704	+890.8%	0.03%	-53.4%
ATO	New	ATMOS ENERGY CORP COM	$728,000	–	8,253	–	0.03%	–
UNH	Sell	UNITEDHEALTH GROUP INC COM	$690,000	-66.3%	1,768	-69.6%	0.02%	-65.8%
CMS	Sell	CMS ENERGY CORP COM	$683,000	-67.0%	11,428	-67.3%	0.02%	-66.2%
ES	Sell	EVERSOURCE ENERGY COM	$580,000	-55.9%	7,091	-56.7%	0.02%	-55.3%
DD	Sell	DUPONT DE NEMOURS INC COM	$495,000	-74.6%	7,283	-76.0%	0.02%	-74.3%
ABT	New	ABBOTT LABS COM	$466,000	–	3,946	–	0.02%	–
NFLX	New	NETFLIX INC COM	$381,000	–	624	–	0.01%	–
AON	Sell	AON PLC SHS CL Acl a	$281,000	-86.7%	984	-89.8%	0.01%	-86.7%
IBM	Sell	INTERNATIONAL BUSINESS MACHS COM	$217,000	-85.5%	1,562	-87.3%	0.01%	-84.9%
MWA	New	MUELLER WTR PRODS INC COM SER A	$209,000	–	13,776	–	0.01%	–
CL	New	COLGATE PALMOLIVE CO COM	$218,000	–	2,882	–	0.01%	–
ACC	New	AMERICAN CAMPUS CMNTYS INC COM	$223,000	–	4,600	–	0.01%	–
CAG	Buy	CONAGRA BRANDS INC COM	$186,000	+22.4%	5,482	+31.0%	0.01%	+40.0%
OTIS	Sell	OTIS WORLDWIDE CORP COM	$207,000	-93.3%	2,515	-93.9%	0.01%	-93.6%
WMT	Sell	WALMART INC COM	$207,000	-87.8%	1,484	-89.5%	0.01%	-88.5%
BRKB	Sell	BERKSHIRE HATHAWAY INC DEL CL B NEWdel cl b	$191,000	-93.2%	700	-94.1%	0.01%	-93.1%
TU	Buy	TELUS CORPORATION COM	$196,000	+24.1%	5,562	+21.2%	0.01%	+16.7%
EA	Sell	ELECTRONIC ARTS INC COM	$171,000	-90.6%	1,202	-92.1%	0.01%	-90.8%
VAL	New	VALARIS LIMITED CL Acl a	$160,000	–	4,594	–	0.01%	–
INTC	Sell	INTEL CORP COM	$178,000	-84.4%	3,329	-86.8%	0.01%	-85.4%
PPG	Sell	PPG INDS INC COM	$153,000	-89.9%	1,069	-90.1%	0.01%	-90.7%
LLY	Buy	LILLY ELI & CO COM	$91,000	+5.8%	393	+4.5%	0.00%	0.0%
BCE	Sell	BCE INC COM NEW	$91,000	-4.2%	1,134	-10.0%	0.00%	0.0%
RCI	Buy	ROGERS COMMUNICATIONS INC CL Bcl b	$96,000	+18.5%	1,277	+28.2%	0.00%	0.0%
CI	Buy	CIGNA CORP NEW COM	$66,000	-2.9%	331	+15.3%	0.00%	0.0%
VRTX	Buy	VERTEX PHARMACEUTICALS INC COM	$44,000	+2.3%	245	+14.0%	0.00%	0.0%
CSX	Buy	CSX CORP COM	$47,000	-4.1%	1,564	+3.0%	0.00%	0.0%
WY	Sell	WEYERHAEUSER CO MTN BE COM NEW	$52,000	-7.1%	1,475	-10.0%	0.00%	0.0%
HPQ	Sell	HP INC COM	$55,000	-17.9%	2,006	-10.0%	0.00%	0.0%
HPE	Sell	HEWLETT PACKARD ENTERPRISE C COM	$43,000	-12.2%	3,042	-10.0%	0.00%	0.0%
K	Sell	KELLOGG CO COM	$42,000	-10.6%	653	-10.2%	0.00%	0.0%
MELI	Sell	MERCADOLIBRE INC COM	$52,000	+4.0%	31	-3.1%	0.00%	0.0%
MCO	Buy	MOODYS CORP COM	$42,000	+10.5%	118	+11.3%	0.00%	+100.0%
CMI	Sell	CUMMINS INC COM	$31,000	-18.4%	139	-9.7%	0.00%	0.0%
BAC	Sell	BK OF AMERICA CORP COM	$40,000	-7.0%	942	-10.0%	0.00%	-50.0%
ESS	New	ESSEX PPTY TR INC COM	$16,000	–	49	–	0.00%	–
STX	Sell	SEAGATE TECHNOLOGY HLDNGS PL ORD SHS	$34,000	-17.1%	407	-11.9%	0.00%	0.0%
GM	Sell	GENERAL MTRS CO COM	$36,000	-20.0%	681	-10.0%	0.00%	-50.0%
EXC	Sell	EXELON CORP COM	$25,000	-3.8%	521	-10.0%	0.00%	0.0%
ROP	Buy	ROPER TECHNOLOGIES INC COM	$35,000	+6.1%	79	+11.3%	0.00%	0.0%
BMTX	New	BM TECHNOLOGIES INC CL A COM	$7,000	–	808	–	0.00%	–
PDM	Exit	PIEDMONT OFFICE REALTY TR IN COM CL Acl a	$0	–	-200	–	0.00%	–
TPC	Exit	TUTOR PERINI CORP COM	$0	–	-8,385	–	-0.00%	–
SLB	Exit	SCHLUMBERGER LTD COM STK	$0	–	-5,025	–	-0.01%	–
EIDO	Exit	ISHARES TR MSCI INDONIA ETFetf	$0	–	-13,684	–	-0.01%	–
EWY	Exit	ISHARES INC MSCI STH KOR ETFetf	$0	–	-8,304	–	-0.02%	–
INDA	Exit	ISHARES TR MSCI INDIA ETFetf	$0	–	-19,295	–	-0.03%	–
EWT	Exit	ISHARES INC MSCI TAIWAN ETFetf	$0	–	-19,575	–	-0.04%	–
EEM	Exit	ISHARES TR MSCI EMG MKT ETFetf	$0	–	-28,009	–	-0.04%	–
ORCL	Exit	ORACLE CORP COM	$0	–	-28,266	–	-0.08%	–
GOOG	Exit	ALPHABET INC CAP STK CL Ccap stk cl c	$0	–	-1,193	–	-0.10%	–
MCHI	Exit	ISHARES TR MSCI CHINA ETFetf	$0	–	-50,549	–	-0.10%	–
HTA	Exit	HEALTHCARE TR AMER INC CL A NEWcl a new	$0	–	-217,143	–	-0.21%	–
CUZ	Exit	COUSINS PPTYS INC COM NEW	$0	–	-232,000	–	-0.30%	–
ELS	Exit	EQUITY LIFESTYLE PPTYS INC COM	$0	–	-125,400	–	-0.33%	–
SBRA	Exit	SABRA HEALTH CARE REIT INC COM	$0	–	-615,000	–	-0.40%	–

Q2 2021

			Value		Shares		↓ Weighting
VNQ	New	VANGUARD INDEX FDS REAL ESTATE ETFetf	$157,214,000	–	1,544,500	–	5.61%	–
VNQI	New	VANGUARD INTL EQUITY INDEX F GLB EX US ETFetf	$100,250,000	–	1,717,800	–	3.58%	–
ANF	New	ABERCROMBIE & FITCH CO CL Acl a	$73,134,000	–	1,575,158	–	2.61%	–
WFG	New	WEST FRASER TIMBER CO LTD COM	$72,738,000	–	817,372	–	2.60%	–
JBL	New	JABIL INC COM	$67,341,000	–	1,158,647	–	2.40%	–
BC	New	BRUNSWICK CORP COM	$64,613,000	–	648,594	–	2.30%	–
AVB	New	AVALONBAY CMNTYS INC COM	$59,426,000	–	284,752	–	2.12%	–
TDC	New	TERADATA CORP DEL COM	$54,181,000	–	1,084,274	–	1.93%	–
THR	New	THERMON GROUP HLDGS INC COM	$53,351,000	–	3,130,926	–	1.90%	–
ENS	New	ENERSYS COM	$46,974,000	–	480,650	–	1.68%	–
HBAN	New	HUNTINGTON BANCSHARES INC COM	$44,011,000	–	3,084,121	–	1.57%	–
FSLR	New	FIRST SOLAR INC COM	$44,004,000	–	486,177	–	1.57%	–
STRA	New	STRATEGIC ED INC COM	$43,232,000	–	568,396	–	1.54%	–
ARGO	New	ARGO GROUP INTL HLDGS LTD COM	$43,231,000	–	834,095	–	1.54%	–
LXFR	New	LUXFER HOLDINGS PLC SHS	$42,310,000	–	1,901,543	–	1.51%	–
GRPU	New	GRANITE REAL ESTATE INVT TR UNIT 99/99/9999unit 99/99/9999	$40,449,000	–	490,400	–	1.44%	–
RWX	New	SPDR INDEX SHS FDS DJ INTL RL ETFetf	$39,944,000	–	1,087,800	–	1.42%	–
KRO	New	KRONOS WORLDWIDE INC COM	$39,098,000	–	2,730,305	–	1.40%	–
SNBR	New	SLEEP NUMBER CORP COM	$37,836,000	–	344,122	–	1.35%	–
CSCO	New	CISCO SYS INC COM	$35,449,000	–	668,838	–	1.26%	–
RNR	New	RENAISSANCERE HLDGS LTD COM	$35,259,000	–	236,928	–	1.26%	–
WTFC	New	WINTRUST FINL CORP COM	$31,352,000	–	414,550	–	1.12%	–
RY	New	ROYAL BK CDA COM	$30,014,000	–	238,987	–	1.07%	–
PEP	New	PEPSICO INC COM	$29,854,000	–	201,489	–	1.06%	–
INVH	New	INVITATION HOMES INC COM	$29,557,000	–	792,612	–	1.06%	–
GNTX	New	GENTEX CORP COM	$28,584,000	–	863,825	–	1.02%	–
OMC	New	OMNICOM GROUP INC COM	$28,267,000	–	353,378	–	1.01%	–
EQIX	New	EQUINIX INC COM	$28,007,000	–	34,895	–	1.00%	–
VTR	New	VENTAS INC COM	$27,910,000	–	488,800	–	1.00%	–
TRN	New	TRINITY INDS INC COM	$27,689,000	–	1,029,730	–	0.99%	–
DK	New	DELEK US HLDGS INC NEW COM	$27,637,000	–	1,278,308	–	0.99%	–
EHC	New	ENCOMPASS HEALTH CORP COM	$27,404,000	–	351,201	–	0.98%	–
MRK	New	MERCK & CO INC COM	$27,224,000	–	350,059	–	0.97%	–
CAH	New	CARDINAL HEALTH INC COM	$26,501,000	–	464,195	–	0.94%	–
CUBE	New	CUBESMART COM	$26,054,000	–	562,460	–	0.93%	–
VZ	New	VERIZON COMMUNICATIONS INC COM	$25,897,000	–	462,191	–	0.92%	–
CBT	New	CABOT CORP COM	$25,266,000	–	443,808	–	0.90%	–
GILD	New	GILEAD SCIENCES INC COM	$24,994,000	–	362,981	–	0.89%	–
LYB	New	LYONDELLBASELL INDUSTRIES N SHS - A -	$24,730,000	–	240,404	–	0.88%	–
WPC	New	WP CAREY INC COM	$24,732,000	–	331,943	–	0.88%	–
PRU	New	PRUDENTIAL FINL INC COM	$24,612,000	–	240,192	–	0.88%	–
TRTN	New	TRITON INTL LTD CL Acl a	$24,598,000	–	469,940	–	0.88%	–
MSM	New	MSC INDL DIRECT INC CL Acl a	$24,596,000	–	274,108	–	0.88%	–
SKM	New	SK TELECOM LTD SPONSORED ADRadr	$24,379,000	–	776,142	–	0.87%	–
REXR	New	REXFORD INDL RLTY INC COM	$23,235,000	–	408,000	–	0.83%	–
STAG	New	STAG INDL INC COM	$23,153,000	–	618,563	–	0.83%	–
PEG	New	PUBLIC SVC ENTERPRISE GRP IN COM	$23,076,000	–	386,267	–	0.82%	–
USB	New	US BANCORP DEL COM NEW	$22,692,000	–	398,313	–	0.81%	–
PFG	New	PRINCIPAL FINANCIAL GROUP IN COM	$22,470,000	–	355,573	–	0.80%	–
COR	New	CORESITE RLTY CORP COM	$22,155,000	–	164,600	–	0.79%	–
COLD	New	AMERICOLD RLTY TR COM	$21,689,000	–	573,000	–	0.77%	–
PPL	New	PPL CORP COM	$21,579,000	–	771,509	–	0.77%	–
PSA	New	PUBLIC STORAGE COM	$21,551,000	–	71,673	–	0.77%	–
MSFT	New	MICROSOFT CORP COM	$21,250,000	–	79,919	–	0.76%	–
LHCG	New	LHC GROUP INC COM	$21,045,000	–	105,081	–	0.75%	–
SITC	New	SITE CTRS CORP COM	$20,716,000	–	1,375,600	–	0.74%	–
HPP	New	HUDSON PAC PPTYS INC COM	$19,711,000	–	708,537	–	0.70%	–
HR	New	HEALTHCARE RLTY TR COM	$19,313,000	–	639,518	–	0.69%	–
OFC	New	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$18,877,000	–	674,400	–	0.67%	–
GOOGL	New	ALPHABET INC CAP STK CL Acl a	$17,700,000	–	7,249	–	0.63%	–
PLD	New	PROLOGIS INC. COM	$17,569,000	–	146,981	–	0.63%	–
SHO	New	SUNSTONE HOTEL INVS INC NEW COM	$17,564,000	–	1,414,200	–	0.63%	–
CM	New	CANADIAN IMP BK COMM COM	$17,399,000	–	123,302	–	0.62%	–
DRH	New	DIAMONDROCK HOSPITALITY CO COM	$17,294,000	–	1,782,877	–	0.62%	–
DOC	New	PHYSICIANS RLTY TR COM	$17,226,000	–	932,600	–	0.62%	–
SUI	New	SUN CMNTYS INC COM	$16,162,000	–	94,300	–	0.58%	–
HST	New	HOST HOTELS & RESORTS INC COM	$15,677,000	–	917,301	–	0.56%	–
AEO	New	AMERICAN EAGLE OUTFITTERS IN COM	$14,938,000	–	398,023	–	0.53%	–
TRIP	New	TRIPADVISOR INC COM	$14,016,000	–	347,789	–	0.50%	–
DLR	New	DIGITAL RLTY TR INC COM	$13,509,000	–	89,782	–	0.48%	–
RWT	New	REDWOOD TR INC COM	$12,936,000	–	1,071,679	–	0.46%	–
EXR	New	EXTRA SPACE STORAGE INC COM	$12,936,000	–	78,963	–	0.46%	–
MA	New	MASTERCARD INCORPORATED CL Acl a	$12,751,000	–	34,926	–	0.46%	–
ATCO	New	ATLAS CORP SHARESshares	$11,978,000	–	840,661	–	0.43%	–
HIW	New	HIGHWOODS PPTYS INC COM	$11,695,000	–	258,927	–	0.42%	–
AMAT	New	APPLIED MATLS INC COM	$11,555,000	–	81,138	–	0.41%	–
REG	New	REGENCY CTRS CORP COM	$11,546,000	–	180,200	–	0.41%	–
QDEL	New	QUIDEL CORP COM	$11,531,000	–	90,000	–	0.41%	–
PHI	New	PLDT INC SPONSORED ADRadr	$11,348,000	–	431,822	–	0.40%	–
DE	New	DEERE & CO COM	$11,322,000	–	32,103	–	0.40%	–
SBRA	New	SABRA HEALTH CARE REIT INC COM	$11,193,000	–	615,000	–	0.40%	–
VLO	New	VALERO ENERGY CORP COM	$11,055,000	–	141,592	–	0.39%	–
BLK	New	BLACKROCK INC COM	$10,860,000	–	12,413	–	0.39%	–
EL	New	LAUDER ESTEE COS INC CL Acl a	$10,574,000	–	33,245	–	0.38%	–
RPAI	New	RETAIL PPTYS AMER INC CL Acl a	$10,545,000	–	920,999	–	0.38%	–
MMC	New	MARSH & MCLENNAN COS INC COM	$9,986,000	–	70,980	–	0.36%	–
NKE	New	NIKE INC CL Bcl b	$9,628,000	–	62,326	–	0.34%	–
ELS	New	EQUITY LIFESTYLE PPTYS INC COM	$9,318,000	–	125,400	–	0.33%	–
VIVO	New	MERIDIAN BIOSCIENCE INC COM	$9,190,000	–	414,323	–	0.33%	–
MDT	New	MEDTRONIC PLC SHS	$9,117,000	–	75,444	–	0.32%	–
CUZ	New	COUSINS PPTYS INC COM NEW	$8,532,000	–	232,000	–	0.30%	–
AMT	New	AMERICAN TOWER CORP NEW COM	$8,321,000	–	30,803	–	0.30%	–
TMO	New	THERMO FISHER SCIENTIFIC INC COM	$8,143,000	–	16,141	–	0.29%	–
IQV	New	IQVIA HLDGS INC COM	$7,863,000	–	32,446	–	0.28%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADSsponsored ads	$7,608,000	–	63,314	–	0.27%	–
BBBY	New	BED BATH & BEYOND INC COM	$7,142,000	–	214,533	–	0.26%	–
BKNG	New	BOOKING HOLDINGS INC COM	$6,974,000	–	3,251	–	0.25%	–
JPM	New	JPMORGAN CHASE & CO COM	$6,170,000	–	42,575	–	0.22%	–
SYY	New	SYSCO CORP COM	$6,175,000	–	79,417	–	0.22%	–
NVDA	New	NVIDIA CORPORATION COM	$6,081,000	–	20,387	–	0.22%	–
EPR	New	EPR PPTYS COM SH BEN INTsh ben int	$5,879,000	–	111,600	–	0.21%	–
HTA	New	HEALTHCARE TR AMER INC CL A NEWcl a new	$5,798,000	–	217,143	–	0.21%	–
UNP	New	UNION PAC CORP COM	$5,781,000	–	26,286	–	0.21%	–
NEE	New	NEXTERA ENERGY INC COM	$5,749,000	–	78,446	–	0.20%	–
MCD	New	MCDONALDS CORP COM	$5,473,000	–	24,640	–	0.20%	–
HD	New	HOME DEPOT INC COM	$5,051,000	–	16,834	–	0.18%	–
PTC	New	PTC INC COM	$4,976,000	–	35,224	–	0.18%	–
JNJ	New	JOHNSON & JOHNSON COM	$4,885,000	–	29,653	–	0.17%	–
V	New	VISA INC COM CL Acl a	$4,888,000	–	21,805	–	0.17%	–
CCU	New	COMPANIA CERVECERIAS UNIDAS SPONSORED ADRadr	$4,496,000	–	257,756	–	0.16%	–
JCI	New	JOHNSON CTLS INTL PLC SHS	$4,301,000	–	67,719	–	0.15%	–
TRP	New	TC ENERGY CORP COM	$4,247,000	–	69,237	–	0.15%	–
PG	New	PROCTER AND GAMBLE CO COM	$4,106,000	–	32,174	–	0.15%	–
XYL	New	XYLEM INC COM	$4,053,000	–	33,784	–	0.14%	–
SRE	New	SEMPRA ENERGY COM	$3,929,000	–	29,656	–	0.14%	–
MS	New	MORGAN STANLEY COM NEW	$3,862,000	–	42,118	–	0.14%	–
KO	New	COCA COLA CO COM	$3,808,000	–	74,425	–	0.14%	–
BNS	New	BANK NOVA SCOTIA B C COM	$3,717,000	–	37,214	–	0.13%	–
AAPL	New	APPLE INC COM	$3,542,000	–	28,468	–	0.13%	–
AEP	New	AMERICAN ELEC PWR CO INC COM	$3,394,000	–	40,121	–	0.12%	–
DIS	New	DISNEY WALT CO COM	$3,293,000	–	19,842	–	0.12%	–
OTIS	New	OTIS WORLDWIDE CORP COM	$3,076,000	–	41,194	–	0.11%	–
CP	New	CANADIAN PAC RY LTD COM	$2,949,000	–	30,934	–	0.10%	–
MCHI	New	ISHARES TR MSCI CHINA ETFetf	$2,900,000	–	50,549	–	0.10%	–
ENB	New	ENBRIDGE INC COM	$2,846,000	–	46,282	–	0.10%	–
XEL	New	XCEL ENERGY INC COM	$2,838,000	–	43,077	–	0.10%	–
BRKB	New	BERKSHIRE HATHAWAY INC DEL CL B NEWdel cl b new	$2,828,000	–	11,901	–	0.10%	–
AWK	New	AMERICAN WTR WKS CO INC NEW COM	$2,795,000	–	18,133	–	0.10%	–
GOOG	New	ALPHABET INC CAP STK CL Ccap stk cl c	$2,763,000	–	1,193	–	0.10%	–
LOW	New	LOWES COS INC COM	$2,663,000	–	13,729	–	0.10%	–
ADBE	New	ADOBE SYSTEMS INCORPORATED COM	$2,637,000	–	4,502	–	0.09%	–
LRCX	New	LAM RESEARCH CORP COM	$2,601,000	–	3,998	–	0.09%	–
LNG	New	CHENIERE ENERGY INC COM NEW	$2,606,000	–	30,040	–	0.09%	–
ACN	New	ACCENTURE PLC IRELAND SHS CLASS A	$2,313,000	–	7,846	–	0.08%	–
WMB	New	WILLIAMS COS INC COM	$2,290,000	–	86,245	–	0.08%	–
CRM	New	SALESFORCE COM INC COM	$2,145,000	–	8,781	–	0.08%	–
AON	New	AON PLC SHS CL Acl a	$2,113,000	–	9,616	–	0.08%	–
ORCL	New	ORACLE CORP COM	$2,101,000	–	28,266	–	0.08%	–
TRNO	New	TERRENO RLTY CORP COM	$2,091,000	–	32,416	–	0.08%	–
CMS	New	CMS ENERGY CORP COM	$2,067,000	–	34,994	–	0.07%	–
BMY	New	BRISTOL-MYERS SQUIBB CO COM	$2,039,000	–	30,509	–	0.07%	–
UNH	New	UNITEDHEALTH GROUP INC COM	$2,047,000	–	5,825	–	0.07%	–
AMZN	New	AMAZON COM INC COM	$2,017,000	–	657	–	0.07%	–
LIN	New	LINDE PLC SHS	$1,971,000	–	6,819	–	0.07%	–
DD	New	DUPONT DE NEMOURS INC COM	$1,948,000	–	30,287	–	0.07%	–
ATVI	New	ACTIVISION BLIZZARD INC COM	$1,945,000	–	20,383	–	0.07%	–
INTU	New	INTUIT COM	$1,866,000	–	3,807	–	0.07%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN COM	$1,869,000	–	15,742	–	0.07%	–
EA	New	ELECTRONIC ARTS INC COM	$1,818,000	–	15,133	–	0.06%	–
WMT	New	WALMART INC COM	$1,703,000	–	14,102	–	0.06%	–
EBAY	New	EBAY INC. COM	$1,616,000	–	23,014	–	0.06%	–
NE	New	NOBLE CORP NEW SHS	$1,630,000	–	13,596	–	0.06%	–
D	New	DOMINION ENERGY INC COM	$1,591,000	–	21,621	–	0.06%	–
TSLA	New	TESLA INC COM	$1,561,000	–	2,297	–	0.06%	–
DOV	New	DOVER CORP COM	$1,563,000	–	10,379	–	0.06%	–
DDOG	New	DATADOG INC CL A COM	$1,576,000	–	15,134	–	0.06%	–
PPG	New	PPG INDS INC COM	$1,508,000	–	10,786	–	0.05%	–
IBM	New	INTERNATIONAL BUSINESS MACHS COM	$1,498,000	–	12,336	–	0.05%	–
AMGN	New	AMGEN INC COM	$1,464,000	–	6,007	–	0.05%	–
NEM	New	NEWMONT CORP COM	$1,446,000	–	22,812	–	0.05%	–
EIX	New	EDISON INTL COM	$1,424,000	–	24,620	–	0.05%	–
TXN	New	TEXAS INSTRS INC COM	$1,316,000	–	6,841	–	0.05%	–
ES	New	EVERSOURCE ENERGY COM	$1,314,000	–	16,375	–	0.05%	–
ETR	New	ENTERGY CORP NEW COM	$1,247,000	–	12,510	–	0.04%	–
EEM	New	ISHARES TR MSCI EMG MKT ETFetf	$1,196,000	–	28,009	–	0.04%	–
INTC	New	INTEL CORP COM	$1,142,000	–	25,256	–	0.04%	–
EWT	New	ISHARES INC MSCI TAIWAN ETFetf	$1,033,000	–	19,575	–	0.04%	–
DUK	New	DUKE ENERGY CORP NEW COM NEW	$927,000	–	9,388	–	0.03%	–
SO	New	SOUTHERN CO COM	$768,000	–	12,690	–	0.03%	–
INDA	New	ISHARES TR MSCI INDIA ETFetf	$723,000	–	19,295	–	0.03%	–
EWY	New	ISHARES INC MSCI STH KOR ETFetf	$626,000	–	8,304	–	0.02%	–
TDW	New	TIDEWATER INC NEW COM	$426,000	–	44,671	–	0.02%	–
C	New	CITIGROUP INC COM NEW	$301,000	–	4,261	–	0.01%	–
AER	New	AERCAP HOLDINGS NV SHS	$266,000	–	5,200	–	0.01%	–
EIDO	New	ISHARES TR MSCI INDONIA ETFetf	$233,000	–	13,684	–	0.01%	–
SLB	New	SCHLUMBERGER LTD COM STK	$161,000	–	5,025	–	0.01%	–
TU	New	TELUS CORPORATION COM	$158,000	–	4,591	–	0.01%	–
COF	New	CAPITAL ONE FINL CORP COM	$142,000	–	918	–	0.01%	–
CAG	New	CONAGRA BRANDS INC COM	$152,000	–	4,185	–	0.01%	–
TPC	New	TUTOR PERINI CORP COM	$116,000	–	8,385	–	0.00%	–
BCE	New	BCE INC COM NEW	$95,000	–	1,260	–	0.00%	–
IPG	New	INTERPUBLIC GROUP COS INC COM	$79,000	–	2,442	–	0.00%	–
LLY	New	LILLY ELI & CO COM	$86,000	–	376	–	0.00%	–
APTV	New	APTIV PLC SHS	$87,000	–	553	–	0.00%	–
RCI	New	ROGERS COMMUNICATIONS INC CL Bcl b	$81,000	–	996	–	0.00%	–
CSX	New	CSX CORP COM	$49,000	–	1,519	–	0.00%	–
GM	New	GENERAL MTRS CO COM	$45,000	–	757	–	0.00%	–
BAC	New	BK OF AMERICA CORP COM	$43,000	–	1,047	–	0.00%	–
WY	New	WEYERHAEUSER CO MTN BE COM NEW	$56,000	–	1,639	–	0.00%	–
VRTX	New	VERTEX PHARMACEUTICALS INC COM	$43,000	–	215	–	0.00%	–
CI	New	CIGNA CORP NEW COM	$68,000	–	287	–	0.00%	–
HPE	New	HEWLETT PACKARD ENTERPRISE C COM	$49,000	–	3,380	–	0.00%	–
HPQ	New	HP INC COM	$67,000	–	2,228	–	0.00%	–
K	New	KELLOGG CO COM	$47,000	–	727	–	0.00%	–
MELI	New	MERCADOLIBRE INC COM	$50,000	–	32	–	0.00%	–
EXC	New	EXELON CORP COM	$26,000	–	579	–	0.00%	–
MCO	New	MOODYS CORP COM	$38,000	–	106	–	0.00%	–
STX	New	SEAGATE TECHNOLOGY HLDNGS PL ORD SHS	$41,000	–	462	–	0.00%	–
ROP	New	ROPER TECHNOLOGIES INC COM	$33,000	–	71	–	0.00%	–
CMI	New	CUMMINS INC COM	$38,000	–	154	–	0.00%	–
PDM	New	PIEDMONT OFFICE REALTY TR IN COM CL Acl a	$4,000	–	200	–	0.00%	–
OGN	New	ORGANON & CO COMMON STOCK	$10,000	–	346	–	0.00%	–

Q4 2020

			Value		Shares		↓ Weighting
JCI	Exit	JOHNSON CTLS INTL PLC SHS	$0	–	-60	–	0.00%	–
AXP	Exit	AMERICAN EXPRESS CO COM	$0	–	-57	–	0.00%	–
GM	Exit	GENERAL MTRS CO COM	$0	–	-598	–	-0.00%	–
K	Exit	KELLOGG CO COM	$0	–	-292	–	-0.00%	–
DD	Exit	DUPONT DE NEMOURS INC COM	$0	–	-179	–	-0.00%	–
INTC	Exit	INTEL CORP COM	$0	–	-128	–	-0.00%	–
EXC	Exit	EXELON CORP COM	$0	–	-403	–	-0.00%	–
CI	Exit	CIGNA CORP NEW COM	$0	–	-113	–	-0.00%	–
WY	Exit	WEYERHAEUSER CO MTN BE COM NEW	$0	–	-916	–	-0.00%	–
VMW	Exit	VMWARE INC CL A COM	$0	–	-210	–	-0.00%	–
CMI	Exit	CUMMINS INC COM	$0	–	-109	–	-0.00%	–
STX	Exit	SEAGATE TECHNOLOGY PLC SHS	$0	–	-619	–	-0.00%	–
TU	Exit	TELUS CORPORATION COM	$0	–	-723	–	-0.00%	–
HPE	Exit	HEWLETT PACKARD ENTERPRISE C COM	$0	–	-2,313	–	-0.00%	–
BAC	Exit	BK OF AMERICA CORP COM	$0	–	-1,393	–	-0.00%	–
HPQ	Exit	HP INC COM	$0	–	-1,875	–	-0.00%	–
NVO	Exit	NOVO-NORDISK A S ADRadr	$0	–	-601	–	-0.00%	–
BCE	Exit	BCE INC COM NEW	$0	–	-614	–	-0.00%	–
CUBI	Exit	CUSTOMERS BANCORP INC COM	$0	–	-5,255	–	-0.00%	–
AAPL	Exit	APPLE INC COM	$0	–	-452	–	-0.00%	–
FCX	Exit	FREEPORT-MCMORAN INC CL Bcl b	$0	–	-3,448	–	-0.00%	–
TPC	Exit	TUTOR PERINI CORP COM	$0	–	-6,290	–	-0.01%	–
AER	Exit	AERCAP HOLDINGS NV SHS	$0	–	-4,600	–	-0.01%	–
C	Exit	CITIGROUP INC COM NEW	$0	–	-3,180	–	-0.01%	–
COF	Exit	CAPITAL ONE FINL CORP COM	$0	–	-3,220	–	-0.02%	–
SO	Exit	SOUTHERN CO COM	$0	–	-4,434	–	-0.02%	–
D	Exit	DOMINION ENERGY INC COM	$0	–	-3,603	–	-0.02%	–
ATO	Exit	ATMOS ENERGY CORP COM	$0	–	-5,276	–	-0.04%	–
COP	Exit	CONOCOPHILLIPS COM	$0	–	-21,525	–	-0.05%	–
EA	Exit	ELECTRONIC ARTS INC COM	$0	–	-6,183	–	-0.06%	–
EIX	Exit	EDISON INTL COM	$0	–	-17,091	–	-0.07%	–
FE	Exit	FIRSTENERGY CORP COM	$0	–	-31,254	–	-0.07%	–
XEL	Exit	XCEL ENERGY INC COM	$0	–	-13,732	–	-0.07%	–
WMB	Exit	WILLIAMS COS INC COM	$0	–	-50,149	–	-0.08%	–
DIS	Exit	DISNEY WALT CO COM DISNEY	$0	–	-8,465	–	-0.08%	–
NEM	Exit	NEWMONT CORP COM	$0	–	-16,692	–	-0.08%	–
INFO	Exit	IHS MARKIT LTD SHS	$0	–	-13,645	–	-0.08%	–
LNT	Exit	ALLIANT ENERGY CORP COM	$0	–	-21,823	–	-0.09%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS COM	$0	–	-9,598	–	-0.09%	–
CMS	Exit	CMS ENERGY CORP COM	$0	–	-20,000	–	-0.09%	–
ETR	Exit	ENTERGY CORP NEW COM	$0	–	-12,544	–	-0.09%	–
TXN	Exit	TEXAS INSTRS INC COM	$0	–	-8,889	–	-0.10%	–
LNG	Exit	CHENIERE ENERGY INC COM NEW	$0	–	-28,014	–	-0.10%	–
ACN	Exit	ACCENTURE PLC IRELAND SHS CLASS A	$0	–	-5,811	–	-0.10%	–
LIN	Exit	LINDE PLC SHS	$0	–	-5,604	–	-0.10%	–
INTU	Exit	INTUIT COM	$0	–	-4,126	–	-0.10%	–
KO	Exit	COCA COLA CO COM	$0	–	-27,076	–	-0.10%	–
LOW	Exit	LOWES COS INC COM	$0	–	-8,095	–	-0.10%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN COM	$0	–	-14,841	–	-0.11%	–
ES	Exit	EVERSOURCE ENERGY COM	$0	–	-17,819	–	-0.11%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED COM	$0	–	-3,141	–	-0.12%	–
AMGN	Exit	AMGEN INC COM	$0	–	-6,688	–	-0.13%	–
AWK	Exit	AMERICAN WTR WKS CO INC NEW COM	$0	–	-11,845	–	-0.13%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO COM	$0	–	-29,105	–	-0.13%	–
PBA	Exit	PEMBINA PIPELINE CORP COM	$0	–	-61,798	–	-0.13%	–
MCD	Exit	MCDONALDS CORP COM	$0	–	-8,036	–	-0.13%	–
CRM	Exit	SALESFORCE COM INC COM	$0	–	-7,035	–	-0.13%	–
ABBV	Exit	ABBVIE INC COM	$0	–	-20,396	–	-0.14%	–
TSLA	Exit	TESLA INC COM	$0	–	-4,365	–	-0.14%	–
CP	Exit	CANADIAN PAC RY LTD COM	$0	–	-4,842	–	-0.15%	–
HD	Exit	HOME DEPOT INC COM	$0	–	-7,294	–	-0.15%	–
ENB	Exit	ENBRIDGE INC COM	$0	–	-40,466	–	-0.16%	–
JPM	Exit	JPMORGAN CHASE & CO COM	$0	–	-22,305	–	-0.16%	–
V	Exit	VISA INC COM CL Acl a	$0	–	-11,028	–	-0.17%	–
PG	Exit	PROCTER AND GAMBLE CO COM	$0	–	-15,937	–	-0.17%	–
MRC	Exit	MRC GLOBAL INC COM	$0	–	-540,980	–	-0.18%	–
BNS	Exit	BANK NOVA SCOTIA B C COM	$0	–	-32,222	–	-0.18%	–
XYL	Exit	XYLEM INC COM	$0	–	-31,252	–	-0.20%	–
REG	Exit	REGENCY CTRS CORP COM	$0	–	-72,300	–	-0.21%	–
COLD	Exit	AMERICOLD RLTY TR COM	$0	–	-84,100	–	-0.23%	–
EL	Exit	LAUDER ESTEE COS INC CL Acl a	$0	–	-14,123	–	-0.23%	–
SRE	Exit	SEMPRA ENERGY COM	$0	–	-27,799	–	-0.25%	–
JNJ	Exit	JOHNSON & JOHNSON COM	$0	–	-22,150	–	-0.25%	–
NEE	Exit	NEXTERA ENERGY INC COM	$0	–	-12,676	–	-0.27%	–
SYY	Exit	SYSCO CORP COM	$0	–	-58,596	–	-0.28%	–
MDT	Exit	MEDTRONIC PLC SHS	$0	–	-38,940	–	-0.31%	–
BKNG	Exit	BOOKING HOLDINGS INC COM	$0	–	-2,397	–	-0.31%	–
IQV	Exit	IQVIA HLDGS INC COM	$0	–	-26,438	–	-0.32%	–
UNP	Exit	UNION PAC CORP COM	$0	–	-21,576	–	-0.32%	–
AMAT	Exit	APPLIED MATLS INC COM	$0	–	-74,021	–	-0.33%	–
AMT	Exit	AMERICAN TOWER CORP NEW COM	$0	–	-19,321	–	-0.36%	–
TER	Exit	TERADYNE INC COM	$0	–	-65,717	–	-0.40%	–
MMC	Exit	MARSH & MCLENNAN COS INC COM	$0	–	-46,139	–	-0.40%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADSsponsored ads	$0	–	-72,177	–	-0.44%	–
BLK	Exit	BLACKROCK INC COM	$0	–	-10,462	–	-0.45%	–
BBBY	Exit	BED BATH & BEYOND INC COM	$0	–	-407,275	–	-0.46%	–
DE	Exit	DEERE & CO COM	$0	–	-30,420	–	-0.51%	–
NKE	Exit	NIKE INC CL Bcl b	$0	–	-59,708	–	-0.57%	–
SLB	Exit	SCHLUMBERGER LTD COM	$0	–	-520,216	–	-0.62%	–
ADM	Exit	ARCHER DANIELS MIDLAND CO COM	$0	–	-174,130	–	-0.62%	–
VLO	Exit	VALERO ENERGY CORP COM	$0	–	-187,084	–	-0.62%	–
PHI	Exit	PLDT INC SPONSORED ADRadr	$0	–	-300,919	–	-0.62%	–
XOM	Exit	EXXON MOBIL CORP COM	$0	–	-237,209	–	-0.62%	–
COR	Exit	CORESITE RLTY CORP COM	$0	–	-68,700	–	-0.62%	–
SHO	Exit	SUNSTONE HOTEL INVS INC NEW COM	$0	–	-1,068,800	–	-0.64%	–
RNR	Exit	RENAISSANCERE HLDGS LTD COM	$0	–	-50,940	–	-0.66%	–
MA	Exit	MASTERCARD INCORPORATED CL Acl a	$0	–	-25,663	–	-0.66%	–
ATCO	Exit	ATLAS CORP SHS	$0	–	-973,569	–	-0.66%	–
AEO	Exit	AMERICAN EAGLE OUTFITTERS IN COM	$0	–	-591,439	–	-0.66%	–
PSB	Exit	PS BUSINESS PKS INC CALIF COM	$0	–	-72,100	–	-0.67%	–
O	Exit	REALTY INCOME CORP COM	$0	–	-146,736	–	-0.68%	–
HST	Exit	HOST HOTELS & RESORTS INC COM	$0	–	-834,501	–	-0.68%	–
RWT	Exit	REDWOOD TR INC COM	$0	–	-1,249,851	–	-0.71%	–
GOOGL	Exit	ALPHABET INC CAP STK CL Acl a	$0	–	-6,445	–	-0.72%	–
DLR	Exit	DIGITAL RLTY TR INC COM	$0	–	-65,600	–	-0.73%	–
CBT	Exit	CABOT CORP COM	$0	–	-269,005	–	-0.74%	–
DRH	Exit	DIAMONDROCK HOSPITALITY CO COM	$0	–	-1,914,077	–	-0.74%	–
FRT	Exit	FEDERAL RLTY INVT TR SH BEN INT NEWsh ben int new	$0	–	-132,916	–	-0.74%	–
MSFT	Exit	MICROSOFT CORP COM	$0	–	-46,580	–	-0.74%	–
PRU	Exit	PRUDENTIAL FINL INC COM	$0	–	-158,761	–	-0.77%	–
TRN	Exit	TRINITY INDS INC COM	$0	–	-549,502	–	-0.81%	–
REXR	Exit	REXFORD INDL RLTY INC COM	$0	–	-238,700	–	-0.83%	–
SITC	Exit	SITE CTRS CORP COM	$0	–	-1,518,600	–	-0.83%	–
GNTX	Exit	GENTEX CORP COM	$0	–	-438,261	–	-0.86%	–
EGP	Exit	EASTGROUP PPTY INC COM	$0	–	-88,166	–	-0.87%	–
DK	Exit	DELEK US HLDGS INC NEW COM	$0	–	-1,067,080	–	-0.90%	–
MRK	Exit	MERCK & CO. INC COM	$0	–	-145,239	–	-0.92%	–
TDC	Exit	TERADATA CORP DEL COM	$0	–	-543,640	–	-0.94%	–
AEL	Exit	AMERICAN EQTY INVT LIFE HLD COM	$0	–	-583,228	–	-0.97%	–
STRA	Exit	STRATEGIC ED INC COM	$0	–	-144,604	–	-1.00%	–
CM	Exit	CANADIAN IMP BK COMM COM	$0	–	-135,687	–	-1.03%	–
LHCG	Exit	LHC GROUP INC COM	$0	–	-66,167	–	-1.07%	–
HIW	Exit	HIGHWOODS PPTYS INC COM	$0	–	-426,953	–	-1.09%	–
EQIX	Exit	EQUINIX INC COM	$0	–	-19,475	–	-1.12%	–
ENS	Exit	ENERSYS COM	$0	–	-224,197	–	-1.14%	–
BNL	Exit	BROADSTONE NET LEASE INC CL A COM	$0	–	-906,229	–	-1.16%	–
TPR	Exit	TAPESTRY INC COM	$0	–	-973,703	–	-1.16%	–
LXFR	Exit	LUXFER HOLDINGS PLC SHS	$0	–	-1,284,651	–	-1.22%	–
ELS	Exit	EQUITY LIFESTYLE PPTYS INC COM	$0	–	-264,000	–	-1.23%	–
PPL	Exit	PPL CORP COM	$0	–	-594,987	–	-1.23%	–
HTA	Exit	HEALTHCARE TR AMER INC CL A NEWcl a new	$0	–	-625,383	–	-1.24%	–
STAG	Exit	STAG INDL INC COM	$0	–	-538,863	–	-1.25%	–
PFG	Exit	PRINCIPAL FINANCIAL GROUP IN COM	$0	–	-412,634	–	-1.26%	–
CAH	Exit	CARDINAL HEALTH INC COM	$0	–	-354,700	–	-1.26%	–
USB	Exit	US BANCORP DEL COM NEW	$0	–	-473,900	–	-1.29%	–
PLD	Exit	PROLOGIS INC. COM	$0	–	-168,864	–	-1.29%	–
THR	Exit	THERMON GROUP HLDGS INC COM	$0	–	-1,526,017	–	-1.30%	–
CFG	Exit	CITIZENS FINL GROUP INC COM	$0	–	-680,195	–	-1.31%	–
TRTN	Exit	TRITON INTL LTD CL Acl a	$0	–	-424,250	–	-1.31%	–
OMC	Exit	OMNICOM GROUP INC COM	$0	–	-355,564	–	-1.34%	–
PEG	Exit	PUBLIC SVC ENTERPRISE GRP IN COM	$0	–	-325,288	–	-1.36%	–
GILD	Exit	GILEAD SCIENCES INC COM	$0	–	-283,392	–	-1.36%	–
MSM	Exit	MSC INDL DIRECT INC CL Acl a	$0	–	-283,330	–	-1.36%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N SHS - A -	$0	–	-255,817	–	-1.37%	–
HBAN	Exit	HUNTINGTON BANCSHARES INC COM	$0	–	-1,979,476	–	-1.38%	–
SKM	Exit	SK TELECOM LTD SPONSORED ADRadr	$0	–	-810,127	–	-1.38%	–
TCF	Exit	TCF FINL CORP COM	$0	–	-783,282	–	-1.39%	–
KRO	Exit	KRONOS WORLDWIDE INC COM	$0	–	-1,436,594	–	-1.40%	–
VZ	Exit	VERIZON COMMUNICATIONS INC COM	$0	–	-321,677	–	-1.45%	–
PEP	Exit	PEPSICO INC COM	$0	–	-140,429	–	-1.48%	–
SNBR	Exit	SLEEP NUMBER CORP COM	$0	–	-401,118	–	-1.49%	–
PEAK	Exit	HEALTHPEAK PROPERTIES INC COM	$0	–	-727,700	–	-1.50%	–
CUBE	Exit	CUBESMART COM	$0	–	-636,595	–	-1.56%	–
CSCO	Exit	CISCO SYS INC COM	$0	–	-557,405	–	-1.67%	–
PSA	Exit	PUBLIC STORAGE COM	$0	–	-101,473	–	-1.72%	–
INVH	Exit	INVITATION HOMES INC COM	$0	–	-821,912	–	-1.75%	–
HPP	Exit	HUDSON PAC PPTYS INC COM	$0	–	-1,104,115	–	-1.84%	–
HR	Exit	HEALTHCARE RLTY TR COM	$0	–	-818,597	–	-1.87%	–
ARGO	Exit	ARGO GROUP INTL HLDGS LTD COM	$0	–	-722,620	–	-1.89%	–
FSLR	Exit	FIRST SOLAR INC COM	$0	–	-377,238	–	-1.90%	–
BC	Exit	BRUNSWICK CORP COM	$0	–	-423,977	–	-1.90%	–
JBL	Exit	JABIL INC COM	$0	–	-743,545	–	-1.94%	–
ANF	Exit	ABERCROMBIE & FITCH CO CL Acl a	$0	–	-1,985,277	–	-2.10%	–
AVB	Exit	AVALONBAY CMNTYS INC COM	$0	–	-275,993	–	-3.13%	–

Q3 2020

			Value		Shares		↓ Weighting
AVB	Buy	AVALONBAY CMNTYS INC COM	$41,217,000	-1.9%	275,993	+1.5%	3.13%	+1.9%
ANF	Buy	ABERCROMBIE & FITCH CO CL Acl a	$27,655,000	+93.6%	1,985,277	+47.8%	2.10%	+101.2%
JBL	Buy	JABIL INC COM	$25,474,000	+42.0%	743,545	+33.0%	1.94%	+47.6%
FSLR	Sell	FIRST SOLAR INC COM	$24,973,000	+24.2%	377,238	-7.1%	1.90%	+29.0%
BC	Buy	BRUNSWICK CORP COM	$24,976,000	+6.4%	423,977	+15.6%	1.90%	+10.6%
ARGO	Buy	ARGO GROUP INTL HLDGS LTD COM	$24,880,000	+67.7%	722,620	+69.6%	1.89%	+74.4%
HR	Buy	HEALTHCARE RLTY TR COM	$24,657,000	+42.7%	818,597	+38.7%	1.87%	+48.3%
HPP	Buy	HUDSON PAC PPTYS INC COM	$24,214,000	+3.0%	1,104,115	+18.2%	1.84%	+7.0%
INVH	Sell	INVITATION HOMES INC COM	$23,005,000	-10.6%	821,912	-12.1%	1.75%	-7.1%
PSA	Buy	PUBLIC STORAGE COM	$22,600,000	+28.1%	101,473	+10.3%	1.72%	+33.1%
CSCO	Buy	CISCO SYS INC COM	$21,956,000	-6.1%	557,405	+11.2%	1.67%	-2.3%
CUBE	Sell	CUBESMART COM	$20,569,000	+9.4%	636,595	-8.6%	1.56%	+13.7%
PEAK	Buy	HEALTHPEAK PROPERTIES INC COM	$19,757,000	+148.8%	727,700	+152.5%	1.50%	+158.8%
SNBR	Buy	SLEEP NUMBER CORP COM	$19,619,000	+33.8%	401,118	+13.9%	1.49%	+39.1%
PEP	Buy	PEPSICO INC COM	$19,462,000	+5.1%	140,429	+0.3%	1.48%	+9.2%
VZ	Sell	VERIZON COMMUNICATIONS INC COM	$19,136,000	+3.1%	321,677	-4.5%	1.45%	+7.1%
KRO	Buy	KRONOS WORLDWIDE INC COM	$18,475,000	+25.3%	1,436,594	+1.4%	1.40%	+30.1%
TCF	Buy	TCF FINL CORP COM	$18,297,000	+14.8%	783,282	+44.6%	1.39%	+19.3%
SKM	Sell	SK TELECOM LTD SPONSORED ADRadr	$18,163,000	+2.3%	810,127	-11.9%	1.38%	+6.3%
HBAN	Buy	HUNTINGTON BANCSHARES INC COM	$18,152,000	+13.0%	1,979,476	+11.4%	1.38%	+17.5%
LYB	Sell	LYONDELLBASELL INDUSTRIES N SHS - A -	$18,034,000	-2.9%	255,817	-9.5%	1.37%	+0.9%
MSM	Buy	MSC INDL DIRECT INC CL Acl a	$17,928,000	+81.2%	283,330	+108.5%	1.36%	+88.4%
GILD	Buy	GILEAD SCIENCES INC COM	$17,907,000	+5.3%	283,392	+28.2%	1.36%	+9.4%
PEG	Sell	PUBLIC SVC ENTERPRISE GRP IN COM	$17,861,000	-4.1%	325,288	-14.1%	1.36%	-0.3%
OMC	Buy	OMNICOM GROUP INC COM	$17,601,000	+91.3%	355,564	+110.9%	1.34%	+98.7%
TRTN	Sell	TRITON INTL LTD CL Acl a	$17,254,000	-2.0%	424,250	-27.1%	1.31%	+1.9%
CFG	Sell	CITIZENS FINL GROUP INC COM	$17,195,000	-3.3%	680,195	-3.5%	1.31%	+0.5%
THR	Buy	THERMON GROUP HLDGS INC COM	$17,137,000	+4.5%	1,526,017	+35.6%	1.30%	+8.7%
PLD	Sell	PROLOGIS INC. COM	$16,991,000	-11.2%	168,864	-17.7%	1.29%	-7.7%
USB	Buy	US BANCORP DEL COM NEW	$16,988,000	+0.2%	473,900	+2.9%	1.29%	+4.1%
CAH	Buy	CARDINAL HEALTH INC COM	$16,653,000	-2.1%	354,700	+8.8%	1.26%	+1.8%
PFG	Sell	PRINCIPAL FINANCIAL GROUP IN COM	$16,618,000	-6.7%	412,634	-3.8%	1.26%	-3.1%
STAG	Sell	STAG INDL INC COM	$16,429,000	-12.7%	538,863	-16.1%	1.25%	-9.3%
HTA	Sell	HEALTHCARE TR AMER INC CL A NEWcl a new	$16,260,000	-14.5%	625,383	-12.7%	1.24%	-11.1%
PPL	Sell	PPL CORP COM	$16,190,000	-6.6%	594,987	-11.3%	1.23%	-2.9%
ELS	Buy	EQUITY LIFESTYLE PPTYS INC COM	$16,182,000	+155.6%	264,000	+160.6%	1.23%	+165.4%
LXFR	Buy	LUXFER HOLDINGS PLC SHS	$16,122,000	+20.4%	1,284,651	+35.7%	1.22%	+25.1%
TPR	Sell	TAPESTRY INC COM	$15,219,000	-14.0%	973,703	-27.0%	1.16%	-10.7%
BNL	New	BROADSTONE NET LEASE INC CL A COM	$15,206,000	–	906,229	–	1.16%	–
ENS	Buy	ENERSYS COM	$15,048,000	+22.5%	224,197	+17.5%	1.14%	+27.4%
EQIX	Buy	EQUINIX INC COM	$14,803,000	+22.7%	19,475	+13.4%	1.12%	+27.4%
HIW	New	HIGHWOODS PPTYS INC COM	$14,333,000	–	426,953	–	1.09%	–
LHCG	Sell	LHC GROUP INC COM	$14,064,000	-29.5%	66,167	-42.2%	1.07%	-26.7%
CM	Sell	CANADIAN IMP BK COMM COM	$13,505,000	-40.2%	135,687	-45.4%	1.03%	-37.9%
STRA	Buy	STRATEGIC ED INC COM	$13,227,000	+20.8%	144,604	+102.9%	1.00%	+25.6%
AEL	Sell	AMERICAN EQTY INVT LIFE HLD COM	$12,825,000	-15.6%	583,228	-5.1%	0.97%	-12.3%
TDC	Sell	TERADATA CORP DEL COM	$12,341,000	-9.2%	543,640	-16.8%	0.94%	-5.6%
MRK	Sell	MERCK & CO. INC COM	$12,048,000	-39.1%	145,239	-43.2%	0.92%	-36.7%
DK	Buy	DELEK US HLDGS INC NEW COM	$11,877,000	-16.4%	1,067,080	+30.7%	0.90%	-13.2%
EGP	Sell	EASTGROUP PPTY INC COM	$11,402,000	-36.7%	88,166	-42.0%	0.87%	-34.2%
GNTX	Buy	GENTEX CORP COM	$11,285,000	+25.0%	438,261	+25.1%	0.86%	+29.8%
REXR	Sell	REXFORD INDL RLTY INC COM	$10,923,000	+1.2%	238,700	-8.4%	0.83%	+5.2%
SITC	Buy	SITE CTRS CORP COM	$10,933,000	+12.7%	1,518,600	+26.8%	0.83%	+17.1%
TRN	Buy	TRINITY INDS INC COM	$10,715,000	-4.6%	549,502	+4.1%	0.81%	-0.9%
PRU	Buy	PRUDENTIAL FINL INC COM	$10,084,000	+6.1%	158,761	+1.8%	0.77%	+10.4%
MSFT	Sell	MICROSOFT CORP COM	$9,797,000	-2.0%	46,580	-5.2%	0.74%	+1.8%
FRT	Sell	FEDERAL RLTY INVT TR SH BEN INT NEWsh ben int new	$9,762,000	-49.5%	132,916	-41.4%	0.74%	-47.5%
DRH	Buy	DIAMONDROCK HOSPITALITY CO COM	$9,704,000	+1.5%	1,914,077	+10.7%	0.74%	+5.4%
CBT	Buy	CABOT CORP COM	$9,692,000	+2.4%	269,005	+5.3%	0.74%	+6.4%
DLR	Buy	DIGITAL RLTY TR INC COM	$9,628,000	+2509.2%	65,600	+2423.1%	0.73%	+2607.4%
GOOGL	Sell	ALPHABET INC CAP STK CL Acl a	$9,446,000	+2.5%	6,445	-0.8%	0.72%	+6.4%
RWT	Sell	REDWOOD TR INC COM	$9,398,000	-8.5%	1,249,851	-14.8%	0.71%	-4.9%
HST	Sell	HOST HOTELS & RESORTS INC COM	$9,004,000	-7.9%	834,501	-7.9%	0.68%	-4.2%
O	Sell	REALTY INCOME CORP COM	$8,915,000	-63.4%	146,736	-64.2%	0.68%	-62.0%
PSB	New	PS BUSINESS PKS INC CALIF COM	$8,824,000	–	72,100	–	0.67%	–
AEO	Sell	AMERICAN EAGLE OUTFITTERS IN COM	$8,759,000	-15.7%	591,439	-37.9%	0.66%	-12.4%
ATCO	Sell	ATLAS CORP SHS	$8,704,000	-10.4%	973,569	-23.8%	0.66%	-6.9%
MA	Sell	MASTERCARD INCORPORATED CL Acl a	$8,678,000	+8.1%	25,663	-5.5%	0.66%	+12.3%
RNR	Buy	RENAISSANCERE HLDGS LTD COM	$8,647,000	+5.7%	50,940	+6.5%	0.66%	+9.9%
SHO	Buy	SUNSTONE HOTEL INVS INC NEW COM	$8,486,000	+47.3%	1,068,800	+51.2%	0.64%	+53.2%
COR	Sell	CORESITE RLTY CORP COM	$8,167,000	-57.7%	68,700	-57.0%	0.62%	-56.1%
XOM	Sell	EXXON MOBIL CORP COM	$8,143,000	-51.9%	237,209	-37.3%	0.62%	-50.0%
PHI	Sell	PLDT INC SPONSORED ADRadr	$8,139,000	-16.5%	300,919	-24.7%	0.62%	-13.3%
VLO	Buy	VALERO ENERGY CORP COM	$8,105,000	-13.0%	187,084	+18.2%	0.62%	-9.5%
ADM	Sell	ARCHER DANIELS MIDLAND CO COM	$8,095,000	-11.4%	174,130	-24.0%	0.62%	-7.9%
SLB	Buy	SCHLUMBERGER LTD COM	$8,093,000	-15.1%	520,216	+0.3%	0.62%	-11.8%
NKE	Sell	NIKE INC CL Bcl b	$7,496,000	+22.8%	59,708	-4.1%	0.57%	+27.6%
DE	Sell	DEERE & CO COM	$6,741,000	+33.9%	30,420	-5.0%	0.51%	+39.1%
BBBY	Sell	BED BATH & BEYOND INC COM	$6,101,000	+36.0%	407,275	-3.8%	0.46%	+41.2%
BLK	Buy	BLACKROCK INC COM	$5,896,000	+9.9%	10,462	+6.1%	0.45%	+14.3%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADSsponsored ads	$5,851,000	-70.8%	72,177	-79.5%	0.44%	-69.7%
MMC	Sell	MARSH & MCLENNAN COS INC COM	$5,292,000	+0.3%	46,139	-6.2%	0.40%	+4.1%
TER	Sell	TERADYNE INC COM	$5,222,000	-43.7%	65,717	-40.2%	0.40%	-41.4%
AMT	Buy	AMERICAN TOWER CORP NEW COM	$4,670,000	+7.1%	19,321	+14.6%	0.36%	+11.3%
AMAT	Sell	APPLIED MATLS INC COM	$4,400,000	-2.0%	74,021	-0.4%	0.33%	+1.8%
UNP	Buy	UNION PAC CORP COM	$4,247,000	+19.1%	21,576	+2.3%	0.32%	+23.8%
IQV	Sell	IQVIA HLDGS INC COM	$4,168,000	+2.2%	26,438	-8.0%	0.32%	+6.4%
BKNG	Sell	BOOKING HOLDINGS INC COM	$4,101,000	-0.3%	2,397	-7.2%	0.31%	+3.3%
MDT	Sell	MEDTRONIC PLC SHS	$4,046,000	+4.6%	38,940	-7.7%	0.31%	+8.5%
SYY	Sell	SYSCO CORP COM	$3,645,000	+3.9%	58,596	-8.7%	0.28%	+8.2%
NEE	Buy	NEXTERA ENERGY INC COM	$3,518,000	+24.2%	12,676	+7.5%	0.27%	+29.0%
JNJ	New	JOHNSON & JOHNSON COM	$3,298,000	–	22,150	–	0.25%	–
SRE	Buy	SEMPRA ENERGY COM	$3,290,000	+10.8%	27,799	+9.8%	0.25%	+15.2%
EL	Sell	LAUDER ESTEE COS INC CL Acl a	$3,082,000	+5.4%	14,123	-8.8%	0.23%	+9.3%
COLD	New	AMERICOLD RLTY TR COM	$3,006,000	–	84,100	–	0.23%	–
REG	New	REGENCY CTRS CORP COM	$2,749,000	–	72,300	–	0.21%	–
XYL	Sell	XYLEM INC COM	$2,629,000	+11.4%	31,252	-13.9%	0.20%	+16.3%
BNS	Buy	BANK NOVA SCOTIA B C COM	$2,381,000	+5.6%	32,222	+9.3%	0.18%	+9.7%
MRC	Sell	MRC GLOBAL INC COM	$2,315,000	-35.9%	540,980	-11.5%	0.18%	-33.3%
PG	Buy	PROCTER AND GAMBLE CO COM	$2,215,000	+20.8%	15,937	+4.0%	0.17%	+25.4%
V	Buy	VISA INC COM CL Acl a	$2,205,000	+10.0%	11,028	+6.3%	0.17%	+13.6%
JPM	Sell	JPMORGAN CHASE & CO COM	$2,147,000	-5.8%	22,305	-8.0%	0.16%	-2.4%
ENB	Sell	ENBRIDGE INC COM	$2,103,000	-28.0%	40,466	-28.7%	0.16%	-24.9%
HD	Sell	HOME DEPOT INC COM	$2,026,000	-27.8%	7,294	-34.9%	0.15%	-24.9%
CP	Buy	CANADIAN PAC RY LTD COM	$1,961,000	+27.9%	4,842	+9.1%	0.15%	+33.0%
TSLA	New	TESLA INC COM	$1,873,000	–	4,365	–	0.14%	–
ABBV	Buy	ABBVIE INC COM	$1,786,000	-6.2%	20,396	+5.2%	0.14%	-2.2%
MCD	Buy	MCDONALDS CORP COM	$1,764,000	+25.7%	8,036	+5.7%	0.13%	+30.1%
CRM	Buy	SALESFORCE COM INC COM	$1,768,000	+45.3%	7,035	+8.3%	0.13%	+50.6%
PBA	Buy	PEMBINA PIPELINE CORP COM	$1,746,000	+91.2%	61,798	+129.6%	0.13%	+98.5%
BMY	Buy	BRISTOL-MYERS SQUIBB CO COM	$1,755,000	+7.3%	29,105	+4.7%	0.13%	+11.8%
AWK	Buy	AMERICAN WTR WKS CO INC NEW COM	$1,716,000	+24.2%	11,845	+10.3%	0.13%	+28.7%
AMGN	Buy	AMGEN INC COM	$1,700,000	+10.0%	6,688	+2.1%	0.13%	+14.2%
ADBE	Buy	ADOBE SYSTEMS INCORPORATED COM	$1,540,000	+22.7%	3,141	+9.0%	0.12%	+27.2%
ES	Buy	EVERSOURCE ENERGY COM	$1,489,000	+24.5%	17,819	+24.1%	0.11%	+29.9%
ICE	Buy	INTERCONTINENTAL EXCHANGE IN COM	$1,485,000	+17.2%	14,841	+7.3%	0.11%	+21.5%
KO	Buy	COCA COLA CO COM	$1,337,000	+15.9%	27,076	+4.8%	0.10%	+21.4%
INTU	New	INTUIT COM	$1,346,000	–	4,126	–	0.10%	–
LOW	Buy	LOWES COS INC COM	$1,343,000	+26.9%	8,095	+3.4%	0.10%	+32.5%
LIN	Buy	LINDE PLC SHS	$1,334,000	+13.3%	5,604	+1.0%	0.10%	+17.4%
ACN	Buy	ACCENTURE PLC IRELAND SHS CLASS A	$1,313,000	+9.2%	5,811	+3.8%	0.10%	+13.6%
LNG	Buy	CHENIERE ENERGY INC COM NEW	$1,296,000	+63.8%	28,014	+71.0%	0.10%	+69.0%
TXN	Buy	TEXAS INSTRS INC COM	$1,269,000	+24.7%	8,889	+10.8%	0.10%	+29.7%
ETR	New	ENTERGY CORP NEW COM	$1,236,000	–	12,544	–	0.09%	–
CMS	Sell	CMS ENERGY CORP COM	$1,228,000	+0.3%	20,000	-4.5%	0.09%	+4.5%
IBM	Buy	INTERNATIONAL BUSINESS MACHS COM	$1,168,000	+5.8%	9,598	+5.0%	0.09%	+9.9%
LNT	Buy	ALLIANT ENERGY CORP COM	$1,127,000	+43.9%	21,823	+33.3%	0.09%	+50.9%
INFO	Buy	IHS MARKIT LTD SHS	$1,071,000	+6.9%	13,645	+2.8%	0.08%	+11.0%
DIS	Buy	DISNEY WALT CO COM DISNEY	$1,050,000	+19.2%	8,465	+7.1%	0.08%	+25.0%
NEM	Buy	NEWMONT CORP COM	$1,059,000	+5.9%	16,692	+3.0%	0.08%	+9.6%
WMB	Sell	WILLIAMS COS INC COM	$985,000	-22.7%	50,149	-25.1%	0.08%	-19.4%
XEL	Sell	XCEL ENERGY INC COM	$948,000	-33.4%	13,732	-39.7%	0.07%	-30.8%
FE	Sell	FIRSTENERGY CORP COM	$897,000	-33.6%	31,254	-10.2%	0.07%	-31.3%
EIX	Buy	EDISON INTL COM	$869,000	+108.9%	17,091	+123.1%	0.07%	+120.0%
EA	Buy	ELECTRONIC ARTS INC COM	$806,000	+4.7%	6,183	+6.1%	0.06%	+8.9%
COP	Buy	CONOCOPHILLIPS COM	$707,000	-17.8%	21,525	+5.1%	0.05%	-14.3%
ATO	New	ATMOS ENERGY CORP COM	$504,000	–	5,276	–	0.04%	–
SO	Buy	SOUTHERN CO COM	$240,000	+27.7%	4,434	+22.2%	0.02%	+28.6%
AAPL	Buy	APPLE INC COM	$52,000	+26.8%	452	+300.0%	0.00%	+33.3%
BCE	Sell	BCE INC COM NEW	$45,000	-11.8%	614	-7.9%	0.00%	-25.0%
BAC	Buy	BK OF AMERICA CORP COM	$34,000	+41.7%	1,393	+36.8%	0.00%	+50.0%
HPQ	Sell	HP INC COM	$36,000	-10.0%	1,875	-18.9%	0.00%	0.0%
TU	Sell	TELUS CORPORATION COM	$23,000	-55.8%	723	-56.8%	0.00%	-50.0%
WY	Sell	WEYERHAEUSER CO MTN BE COM NEW	$26,000	-27.8%	916	-43.2%	0.00%	-33.3%
HPE	Sell	HEWLETT PACKARD ENTERPRISE C COM	$22,000	-43.6%	2,313	-42.7%	0.00%	-33.3%
CMI	Sell	CUMMINS INC COM	$23,000	+21.1%	109	-2.7%	0.00%	+100.0%
STX	New	SEAGATE TECHNOLOGY PLC SHS	$30,000	–	619	–	0.00%	–
GM	Sell	GENERAL MTRS CO COM	$18,000	-25.0%	598	-36.9%	0.00%	-50.0%
K	Sell	KELLOGG CO COM	$19,000	-20.8%	292	-21.1%	0.00%	-50.0%
EXC	Sell	EXELON CORP COM	$14,000	-12.5%	403	-9.4%	0.00%	0.0%
DD	Sell	DUPONT DE NEMOURS INC COM	$10,000	-47.4%	179	-50.7%	0.00%	0.0%
INTC	Sell	INTEL CORP COM	$7,000	-99.6%	128	-99.5%	0.00%	-99.2%
CI	Sell	CIGNA CORP NEW COM	$19,000	-97.9%	113	-97.6%	0.00%	-98.5%
AXP	Sell	AMERICAN EXPRESS CO COM	$6,000	-99.6%	57	-99.7%	0.00%	-100.0%
JCI	Sell	JOHNSON CTLS INTL PLC SHS	$2,000	-99.8%	60	-99.8%	0.00%	-100.0%
TT	Exit	TRANE TECHNOLOGIES PLC SHS	$0	–	-217	–	-0.00%	–
QCOM	Exit	QUALCOMM INC COM	$0	–	-420	–	-0.00%	–
OFC	Exit	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$0	–	-123,200	–	-0.23%	–
PDLI	Exit	PDL BIOPHARMA INC COM	$0	–	-1,506,710	–	-0.32%	–
DOC	Exit	PHYSICIANS RLTY TR COM	$0	–	-386,027	–	-0.49%	–
WELL	Exit	WELLTOWER INC COM	$0	–	-139,173	–	-0.53%	–
EXR	Exit	EXTRA SPACE STORAGE INC COM	$0	–	-86,518	–	-0.58%	–
EQR	Exit	EQUITY RESIDENTIAL SH BEN INTsh ben int	$0	–	-229,471	–	-0.99%	–
BXP	Exit	BOSTON PPTYS LTD PARTNERSHIP COM	$0	–	-171,354	–	-1.13%	–
SDY	Exit	SPDR SER TR S&P DIVID ETFetf	$0	–	-231,200	–	-1.54%	–
IVV	Exit	ISHARES TR CORE S&P500 ETFetf	$0	–	-119,019	–	-2.69%	–

Q2 2020

			Value		Shares		↓ Weighting
AVB	New	AVALONBAY CMNTYS INC COM	$42,033,000	–	271,808	–	3.07%	–
IVV	New	ISHARES TR CORE S&P500 ETFetf	$36,859,000	–	119,019	–	2.69%	–
INVH	New	INVITATION HOMES INC COM	$25,744,000	–	935,112	–	1.88%	–
O	New	REALTY INCOME CORP COM	$24,385,000	–	409,836	–	1.78%	–
HPP	New	HUDSON PAC PPTYS INC COM	$23,505,000	–	934,223	–	1.72%	–
BC	New	BRUNSWICK CORP COM	$23,469,000	–	366,649	–	1.72%	–
CSCO	New	CISCO SYS INC COM	$23,371,000	–	501,080	–	1.71%	–
CM	New	CANADIAN IMP BK COMM COM	$22,590,000	–	248,437	–	1.65%	–
SDY	New	SPDR SER TR S&P DIVID ETFetf	$21,085,000	–	231,200	–	1.54%	–
FSLR	New	FIRST SOLAR INC COM	$20,109,000	–	406,238	–	1.47%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADSsponsored ads	$20,026,000	–	352,754	–	1.46%	–
LHCG	New	LHC GROUP INC COM	$19,947,000	–	114,426	–	1.46%	–
MRK	New	MERCK & CO. INC COM	$19,783,000	–	255,822	–	1.45%	–
FRT	New	FEDERAL REALTY INVT TR SH BEN INT NEWsh ben int new	$19,321,000	–	226,746	–	1.41%	–
COR	New	CORESITE RLTY CORP COM	$19,325,000	–	159,636	–	1.41%	–
PLD	New	PROLOGIS INC. COM	$19,138,000	–	205,064	–	1.40%	–
HTA	New	HEALTHCARE TR AMER INC CL A NEWcl a new	$19,008,000	–	716,740	–	1.39%	–
STAG	New	STAG INDL INC COM	$18,823,000	–	641,963	–	1.38%	–
CUBE	New	CUBESMART COM	$18,796,000	–	696,399	–	1.37%	–
PEG	New	PUBLIC SVC ENTERPRISE GRP IN COM	$18,626,000	–	378,874	–	1.36%	–
LYB	New	LYONDELLBASELL INDUSTRIES N SHS - A -	$18,576,000	–	282,650	–	1.36%	–
VZ	New	VERIZON COMMUNICATIONS INC COM	$18,569,000	–	336,827	–	1.36%	–
PEP	New	PEPSICO INC COM	$18,512,000	–	139,960	–	1.35%	–
EGP	New	EASTGROUP PPTY INC COM	$18,026,000	–	151,966	–	1.32%	–
JBL	New	JABIL INC COM	$17,935,000	–	559,078	–	1.31%	–
PFG	New	PRINCIPAL FINANCIAL GROUP IN COM	$17,819,000	–	428,960	–	1.30%	–
CFG	New	CITIZENS FINANCIAL GROUP INC COM	$17,789,000	–	704,779	–	1.30%	–
SKM	New	SK TELECOM LTD SPONSORED ADRadr	$17,759,000	–	919,237	–	1.30%	–
TPR	New	TAPESTRY INC COM	$17,706,000	–	1,333,370	–	1.29%	–
PSA	New	PUBLIC STORAGE COM	$17,649,000	–	91,973	–	1.29%	–
TRTN	New	TRITON INTL LTD CL Acl a	$17,608,000	–	582,250	–	1.29%	–
PPL	New	PPL CORP COM	$17,340,000	–	671,067	–	1.27%	–
HR	New	HEALTHCARE RLTY TR COM	$17,284,000	–	590,074	–	1.26%	–
CAH	New	CARDINAL HEALTH INC COM	$17,010,000	–	325,920	–	1.24%	–
GILD	New	GILEAD SCIENCES INC COM	$17,007,000	–	221,052	–	1.24%	–
USB	New	US BANCORP DEL COM NEW	$16,952,000	–	460,400	–	1.24%	–
XOM	New	EXXON MOBIL CORP COM	$16,929,000	–	378,549	–	1.24%	–
THR	New	THERMON GROUP HLDGS INC COM	$16,393,000	–	1,125,152	–	1.20%	–
HBAN	New	HUNTINGTON BANCSHARES INC COM	$16,061,000	–	1,777,706	–	1.17%	–
TCF	New	TCF FINANCIAL CORPORATION NE COM	$15,937,000	–	541,711	–	1.16%	–
BXP	New	BOSTON PPTYS LTD PARTNERSHIP COM	$15,487,000	–	171,354	–	1.13%	–
AEL	New	AMERICAN EQTY INVT LIFE HLD COM	$15,187,000	–	614,610	–	1.11%	–
ARGO	New	ARGO GROUP INTL HLDGS LTD COM	$14,838,000	–	426,020	–	1.08%	–
KRO	New	KRONOS WORLDWIDE INC COM	$14,746,000	–	1,416,495	–	1.08%	–
SNBR	New	SLEEP NUMBER CORP COM	$14,662,000	–	352,118	–	1.07%	–
ANF	New	ABERCROMBIE & FITCH CO CL Acl a	$14,288,000	–	1,342,839	–	1.04%	–
DK	New	DELEK US HLDGS INC NEW COM	$14,213,000	–	816,391	–	1.04%	–
TDC	New	TERADATA CORP DEL COM	$13,588,000	–	653,255	–	0.99%	–
EQR	New	EQUITY RESIDENTIAL SH BEN INTsh ben int	$13,497,000	–	229,471	–	0.99%	–
LXFR	New	LUXFER HOLDINGS PLC SHS	$13,391,000	–	946,338	–	0.98%	–
ENS	New	ENERSYS COM	$12,280,000	–	190,741	–	0.90%	–
EQIX	New	EQUINIX INC COM	$12,063,000	–	17,177	–	0.88%	–
TRN	New	TRINITY INDS INC COM	$11,237,000	–	527,803	–	0.82%	–
STRA	New	STRATEGIC ED INC COM	$10,952,000	–	71,278	–	0.80%	–
REXR	New	REXFORD INDL RLTY INC COM	$10,796,000	–	260,600	–	0.79%	–
AEO	New	AMERICAN EAGLE OUTFITTERS IN COM	$10,387,000	–	952,928	–	0.76%	–
RWT	New	REDWOOD TR INC COM	$10,275,000	–	1,467,801	–	0.75%	–
MSFT	New	MICROSOFT CORP COM	$9,998,000	–	49,124	–	0.73%	–
MSM	New	MSC INDL DIRECT INC CL Acl a	$9,893,000	–	135,870	–	0.72%	–
HST	New	HOST HOTELS & RESORTS INC COM	$9,775,000	–	905,901	–	0.71%	–
PHI	New	PLDT INC SPONSORED ADRadr	$9,751,000	–	399,431	–	0.71%	–
ATCO	New	ATLAS CORP SHS	$9,710,000	–	1,277,559	–	0.71%	–
SITC	New	SITE CENTERS CORP COM	$9,701,000	–	1,197,600	–	0.71%	–
DRH	New	DIAMONDROCK HOSPITALITY CO COM	$9,564,000	–	1,729,393	–	0.70%	–
SLB	New	SCHLUMBERGER LTD COM	$9,535,000	–	518,486	–	0.70%	–
PRU	New	PRUDENTIAL FINL INC COM	$9,500,000	–	156,001	–	0.69%	–
CBT	New	CABOT CORP COM	$9,468,000	–	255,555	–	0.69%	–
VLO	New	VALERO ENERGY CORP COM	$9,314,000	–	158,344	–	0.68%	–
TER	New	TERADYNE INC COM	$9,281,000	–	109,817	–	0.68%	–
GOOGL	New	ALPHABET INC CAP STK CL Acl a	$9,216,000	–	6,499	–	0.67%	–
OMC	New	OMNICOM GROUP INC COM	$9,203,000	–	168,574	–	0.67%	–
ADM	New	ARCHER DANIELS MIDLAND CO COM	$9,139,000	–	229,040	–	0.67%	–
GNTX	New	GENTEX CORP COM	$9,026,000	–	350,243	–	0.66%	–
RNR	New	RENAISSANCERE HOLDINGS LTD COM	$8,180,000	–	47,830	–	0.60%	–
MA	New	MASTERCARD INCORPORATED CL Acl a	$8,029,000	–	27,153	–	0.59%	–
EXR	New	EXTRA SPACE STORAGE INC COM	$7,992,000	–	86,518	–	0.58%	–
PEAK	New	HEALTHPEAK PROPERTIES INC COM	$7,942,000	–	288,200	–	0.58%	–
WELL	New	WELLTOWER INC COM	$7,202,000	–	139,173	–	0.53%	–
DOC	New	PHYSICIANS RLTY TR COM	$6,762,000	–	386,027	–	0.49%	–
ELS	New	EQUITY LIFESTYLE PPTYS INC COM	$6,330,000	–	101,300	–	0.46%	–
NKE	New	NIKE INC CL Bcl b	$6,106,000	–	62,270	–	0.45%	–
SHO	New	SUNSTONE HOTEL INVS INC NEW COM	$5,760,000	–	706,800	–	0.42%	–
BLK	New	BLACKROCK INC COM	$5,364,000	–	9,857	–	0.39%	–
MMC	New	MARSH & MCLENNAN COS INC COM	$5,278,000	–	49,164	–	0.39%	–
DE	New	DEERE & CO COM	$5,033,000	–	32,032	–	0.37%	–
AMAT	New	APPLIED MATLS INC COM	$4,492,000	–	74,304	–	0.33%	–
BBBY	New	BED BATH & BEYOND INC COM	$4,487,000	–	423,275	–	0.33%	–
PDLI	New	PDL BIOPHARMA INC COM	$4,385,000	–	1,506,710	–	0.32%	–
AMT	New	AMERICAN TOWER CORP NEW COM	$4,359,000	–	16,860	–	0.32%	–
BKNG	New	BOOKING HOLDINGS INC COM	$4,115,000	–	2,584	–	0.30%	–
IQV	New	IQVIA HLDGS INC COM	$4,078,000	–	28,741	–	0.30%	–
MDT	New	MEDTRONIC PLC SHS	$3,867,000	–	42,179	–	0.28%	–
MRC	New	MRC GLOBAL INC COM	$3,611,000	–	610,980	–	0.26%	–
UNP	New	UNION PAC CORP COM	$3,565,000	–	21,089	–	0.26%	–
SYY	New	SYSCO CORP COM	$3,507,000	–	64,167	–	0.26%	–
OFC	New	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$3,121,000	–	123,200	–	0.23%	–
SRE	New	SEMPRA ENERGY COM	$2,969,000	–	25,322	–	0.22%	–
EL	New	LAUDER ESTEE COS INC CL Acl a	$2,923,000	–	15,491	–	0.21%	–
ENB	New	ENBRIDGE INC COM	$2,919,000	–	56,747	–	0.21%	–
NEE	New	NEXTERA ENERGY INC COM	$2,833,000	–	11,797	–	0.21%	–
HD	New	HOME DEPOT INC COM	$2,806,000	–	11,200	–	0.20%	–
XYL	New	XYLEM INC COM	$2,359,000	–	36,317	–	0.17%	–
JPM	New	JPMORGAN CHASE & CO COM	$2,280,000	–	24,238	–	0.17%	–
BNS	New	BANK NOVA SCOTIA B C COM	$2,254,000	–	29,467	–	0.16%	–
V	New	VISA INC COM CL Acl a	$2,005,000	–	10,379	–	0.15%	–
ABBV	New	ABBVIE INC COM	$1,904,000	–	19,391	–	0.14%	–
PG	New	PROCTER AND GAMBLE CO COM	$1,833,000	–	15,329	–	0.13%	–
INTC	New	INTEL CORP COM	$1,676,000	–	28,016	–	0.12%	–
BMY	New	BRISTOL-MYERS SQUIBB CO COM	$1,635,000	–	27,807	–	0.12%	–
AXP	New	AMERICAN EXPRESS CO COM	$1,586,000	–	16,662	–	0.12%	–
AMGN	New	AMGEN INC COM	$1,545,000	–	6,550	–	0.11%	–
CP	New	CANADIAN PAC RY LTD COM	$1,533,000	–	4,439	–	0.11%	–
XEL	New	XCEL ENERGY INC COM	$1,423,000	–	22,770	–	0.10%	–
MCD	New	MCDONALDS CORP COM	$1,403,000	–	7,606	–	0.10%	–
AWK	New	AMERICAN WTR WKS CO INC NEW COM	$1,382,000	–	10,738	–	0.10%	–
FE	New	FIRSTENERGY CORP COM	$1,350,000	–	34,803	–	0.10%	–
WMB	New	WILLIAMS COS INC COM	$1,274,000	–	66,959	–	0.09%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN COM	$1,267,000	–	13,837	–	0.09%	–
ADBE	New	ADOBE INC COM	$1,255,000	–	2,882	–	0.09%	–
CMS	New	CMS ENERGY CORP COM	$1,224,000	–	20,951	–	0.09%	–
CRM	New	SALESFORCE COM INC COM	$1,217,000	–	6,494	–	0.09%	–
ACN	New	ACCENTURE PLC IRELAND SHS CLASS A	$1,202,000	–	5,596	–	0.09%	–
ES	New	EVERSOURCE ENERGY COM	$1,196,000	–	14,362	–	0.09%	–
LIN	New	LINDE PLC SHS	$1,177,000	–	5,549	–	0.09%	–
KO	New	COCA COLA CO COM	$1,154,000	–	25,830	–	0.08%	–
IBM	New	INTERNATIONAL BUSINESS MACHS COM	$1,104,000	–	9,140	–	0.08%	–
LOW	New	LOWES COS INC COM	$1,058,000	–	7,831	–	0.08%	–
TXN	New	TEXAS INSTRS INC COM	$1,018,000	–	8,020	–	0.07%	–
NEM	New	NEWMONT CORP COM	$1,000,000	–	16,198	–	0.07%	–
INFO	New	IHS MARKIT LTD SHS	$1,002,000	–	13,273	–	0.07%	–
PBA	New	PEMBINA PIPELINE CORP COM	$913,000	–	26,912	–	0.07%	–
JCI	New	JOHNSON CTLS INTL PLC SHS	$918,000	–	26,885	–	0.07%	–
CI	New	CIGNA CORP NEW COM	$894,000	–	4,766	–	0.06%	–
DIS	New	DISNEY WALT CO COM DISNEY	$881,000	–	7,901	–	0.06%	–
COP	New	CONOCOPHILLIPS COM	$860,000	–	20,473	–	0.06%	–
LNG	New	CHENIERE ENERGY INC COM NEW	$791,000	–	16,380	–	0.06%	–
LNT	New	ALLIANT ENERGY CORP COM	$783,000	–	16,377	–	0.06%	–
EA	New	ELECTRONIC ARTS INC COM	$770,000	–	5,830	–	0.06%	–
EIX	New	EDISON INTL COM	$416,000	–	7,659	–	0.03%	–
DLR	New	DIGITAL RLTY TR INC COM	$369,000	–	2,600	–	0.03%	–
D	New	DOMINION ENERGY INC COM	$292,000	–	3,603	–	0.02%	–
COF	New	CAPITAL ONE FINL CORP COM	$202,000	–	3,220	–	0.02%	–
SO	New	SOUTHERN CO COM	$188,000	–	3,627	–	0.01%	–
C	New	CITIGROUP INC COM NEW	$162,000	–	3,180	–	0.01%	–
AER	New	AERCAP HOLDINGS NV SHS	$142,000	–	4,600	–	0.01%	–
TPC	New	TUTOR PERINI CORP COM	$77,000	–	6,290	–	0.01%	–
CUBI	New	CUSTOMERS BANCORP INC COM	$63,000	–	5,255	–	0.01%	–
BCE	New	BCE INC COM NEW	$51,000	–	667	–	0.00%	–
TU	New	TELUS CORPORATION COM	$52,000	–	1,673	–	0.00%	–
WY	New	WEYERHAEUSER CO MTN BE COM NEW	$36,000	–	1,612	–	0.00%	–
HPE	New	HEWLETT PACKARD ENTERPRISE C COM	$39,000	–	4,039	–	0.00%	–
HPQ	New	HP INC COM	$40,000	–	2,311	–	0.00%	–
AAPL	New	APPLE INC COM	$41,000	–	113	–	0.00%	–
FCX	New	FREEPORT-MCMORAN INC CL Bcl b	$40,000	–	3,448	–	0.00%	–
NVO	New	NOVO-NORDISK A S ADRadr	$39,000	–	601	–	0.00%	–
QCOM	New	QUALCOMM INC COM	$38,000	–	420	–	0.00%	–
BAC	New	BK OF AMERICA CORP COM	$24,000	–	1,018	–	0.00%	–
GM	New	GENERAL MTRS CO COM	$24,000	–	948	–	0.00%	–
VMW	New	VMWARE INC CL A COM	$33,000	–	210	–	0.00%	–
K	New	KELLOGG CO COM	$24,000	–	370	–	0.00%	–
DD	New	DUPONT DE NEMOURS INC COM	$19,000	–	363	–	0.00%	–
EXC	New	EXELON CORP COM	$16,000	–	445	–	0.00%	–
CMI	New	CUMMINS INC COM	$19,000	–	112	–	0.00%	–
TT	New	TRANE TECHNOLOGIES PLC SHS	$19,000	–	217	–	0.00%	–

Q4 2019

			Value		Shares		↓ Weighting
NVDA	Exit	NVIDIA CORP COM	$0	–	-128	–	-0.00%	–
EXC	Exit	EXELON CORP COM	$0	–	-563	–	-0.00%	–
GM	Exit	GENERAL MTRS CO COM	$0	–	-800	–	-0.00%	–
CMI	Exit	CUMMINS INC COM	$0	–	-172	–	-0.00%	–
PCG	Exit	PG&E CORP COM	$0	–	-2,959	–	-0.00%	–
BCE	Exit	BCE INC COM NEW	$0	–	-556	–	-0.00%	–
ABBV	Exit	ABBVIE INC COM	$0	–	-569	–	-0.00%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO COM	$0	–	-771	–	-0.00%	–
HPE	Exit	HEWLETT PACKARD ENTERPRISE C COM	$0	–	-2,144	–	-0.00%	–
TECK	Exit	TECK RESOURCES LTD CL Bcl b	$0	–	-1,762	–	-0.00%	–
WY	Exit	WEYERHAEUSER CO COM	$0	–	-1,505	–	-0.00%	–
HAS	Exit	HASBRO INC COM	$0	–	-308	–	-0.00%	–
BAC	Exit	BANK AMER CORP COM	$0	–	-1,351	–	-0.00%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS COM	$0	–	-232	–	-0.00%	–
TU	Exit	TELUS CORP COM	$0	–	-929	–	-0.00%	–
AR	Exit	ANTERO RES CORP COM	$0	–	-17,135	–	-0.00%	–
CUBI	Exit	CUSTOMERS BANCORP INC COM	$0	–	-3,705	–	-0.01%	–
TPC	Exit	TUTOR PERINI CORP COM	$0	–	-6,300	–	-0.01%	–
LNT	Exit	ALLIANT ENERGY CORP COM	$0	–	-1,753	–	-0.01%	–
ORCL	Exit	ORACLE CORP COM	$0	–	-1,886	–	-0.01%	–
SRE	Exit	SEMPRA ENERGY COM	$0	–	-687	–	-0.01%	–
AER	Exit	AERCAP HOLDINGS NV SHS	$0	–	-2,300	–	-0.01%	–
MDLZ	Exit	MONDELEZ INTL INC CL Acl a	$0	–	-2,187	–	-0.01%	–
C	Exit	CITIGROUP INC COM NEW	$0	–	-1,890	–	-0.01%	–
D	Exit	DOMINION ENERGY INC COM	$0	–	-1,605	–	-0.01%	–
ENB	Exit	ENBRIDGE INC COM	$0	–	-3,837	–	-0.01%	–
HD	Exit	HOME DEPOT INC COM	$0	–	-888	–	-0.02%	–
COF	Exit	CAPITAL ONE FINL CORP COM	$0	–	-2,270	–	-0.02%	–
INTC	Exit	INTEL CORP COM	$0	–	-4,377	–	-0.02%	–
LNG	Exit	CHENIERE ENERGY INC COM NEW	$0	–	-5,375	–	-0.03%	–
STAG	Exit	STAG INDL INC COM	$0	–	-11,800	–	-0.03%	–
EQIX	Exit	EQUINIX INC COM	$0	–	-809	–	-0.04%	–
PSA	Exit	PUBLIC STORAGE COM	$0	–	-1,973	–	-0.04%	–
CP	Exit	CANADIAN PAC RY LTD COM	$0	–	-1,866	–	-0.04%	–
CSX	Exit	CSX CORP COM	$0	–	-8,221	–	-0.04%	–
WMB	Exit	WILLIAMS COS INC DEL COM	$0	–	-23,611	–	-0.04%	–
OXY	Exit	OCCIDENTAL PETE CORP COM	$0	–	-12,784	–	-0.04%	–
CMS	Exit	CMS ENERGY CORP COM	$0	–	-9,241	–	-0.05%	–
ETN	Exit	EATON CORP PLC SHS	$0	–	-7,150	–	-0.05%	–
MET	Exit	METLIFE INC COM	$0	–	-12,862	–	-0.05%	–
VTR	Exit	VENTAS INC COM	$0	–	-8,300	–	-0.05%	–
SYF	Exit	SYNCHRONY FINL COM	$0	–	-17,994	–	-0.05%	–
BDX	Exit	BECTON DICKINSON & CO COM	$0	–	-2,495	–	-0.05%	–
AWK	Exit	AMERICAN WTR WKS CO INC NEW COM	$0	–	-5,084	–	-0.05%	–
ZBH	Exit	ZIMMER BIOMET HLDGS INC COM	$0	–	-4,803	–	-0.05%	–
CNP	Exit	CENTERPOINT ENERGY INC COM	$0	–	-21,677	–	-0.05%	–
ES	Exit	EVERSOURCE ENERGY COM	$0	–	-7,756	–	-0.05%	–
PFE	Exit	PFIZER INC COM	$0	–	-19,385	–	-0.06%	–
XEL	Exit	XCEL ENERGY INC COM	$0	–	-10,708	–	-0.06%	–
NVO	Exit	NOVO-NORDISK A S ADRadr	$0	–	-13,543	–	-0.06%	–
MS	Exit	MORGAN STANLEY COM NEW	$0	–	-17,167	–	-0.06%	–
FMC	Exit	F M C CORP COM NEW	$0	–	-8,246	–	-0.06%	–
LUV	Exit	SOUTHWEST AIRLS CO COM	$0	–	-13,495	–	-0.06%	–
PG	Exit	PROCTER & GAMBLE CO COM	$0	–	-5,903	–	-0.06%	–
PBA	Exit	PEMBINA PIPELINE CORP COM	$0	–	-15,395	–	-0.06%	–
AEP	Exit	AMERICAN ELEC PWR CO INC COM	$0	–	-8,137	–	-0.06%	–
OKE	Exit	ONEOK INC NEW COM	$0	–	-10,762	–	-0.06%	–
MRK	Exit	MERCK & CO INC COM	$0	–	-9,630	–	-0.06%	–
T	Exit	AT&T INC COM	$0	–	-22,073	–	-0.07%	–
RCL	Exit	ROYAL CARIBBEAN CRUISES LTD COM	$0	–	-7,825	–	-0.07%	–
TJX	Exit	TJX COS INC NEW COM	$0	–	-15,602	–	-0.07%	–
BBT	Exit	BB&T CORP COM	$0	–	-16,591	–	-0.07%	–
AMT	Exit	AMERICAN TOWER CORP NEW COM	$0	–	-4,222	–	-0.07%	–
GIB	Exit	CGI INC CL A SUB VTGcl a sub vtg	$0	–	-9,077	–	-0.08%	–
ROST	Exit	ROSS STORES INC COM	$0	–	-8,846	–	-0.08%	–
WM	Exit	WASTE MGMT INC DEL COM	$0	–	-10,362	–	-0.10%	–
NEE	Exit	NEXTERA ENERGY INC COM	$0	–	-5,661	–	-0.10%	–
FDX	Exit	FEDEX CORP COM	$0	–	-9,108	–	-0.11%	–
ANTM	Exit	ANTHEM INC COM	$0	–	-5,583	–	-0.11%	–
NSC	Exit	NORFOLK SOUTHERN CORP COM	$0	–	-7,581	–	-0.11%	–
AAPL	Exit	APPLE INC COM	$0	–	-6,178	–	-0.11%	–
AMGN	Exit	AMGEN INC COM	$0	–	-7,296	–	-0.11%	–
PEP	Exit	PEPSICO INC COM	$0	–	-10,756	–	-0.12%	–
PSX	Exit	PHILLIPS 66 COM	$0	–	-14,312	–	-0.12%	–
HPQ	Exit	HP INC COM	$0	–	-82,745	–	-0.12%	–
AXP	Exit	AMERICAN EXPRESS CO COM	$0	–	-13,739	–	-0.13%	–
PPG	Exit	PPG INDS INC COM	$0	–	-14,610	–	-0.14%	–
DIS	Exit	DISNEY WALT CO COM DISNEY	$0	–	-13,534	–	-0.14%	–
WWW	Exit	WOLVERINE WORLD WIDE INC COM	$0	–	-64,455	–	-0.14%	–
XYL	Exit	XYLEM INC COM	$0	–	-24,945	–	-0.16%	–
APD	Exit	AIR PRODS & CHEMS INC COM	$0	–	-9,032	–	-0.16%	–
TD	Exit	TORONTO DOMINION BK ONT COM NEW	$0	–	-28,866	–	-0.18%	–
FRT	Exit	FEDERAL REALTY INVT TR SH BEN INT NEWsh ben int new	$0	–	-16,868	–	-0.18%	–
EIX	Exit	EDISON INTL COM	$0	–	-31,411	–	-0.19%	–
SYY	Exit	SYSCO CORP COM	$0	–	-31,193	–	-0.20%	–
ALLE	Exit	ALLEGION PUB LTD CO ORD SHS	$0	–	-24,700	–	-0.20%	–
BKNG	Exit	BOOKING HLDGS INC COM	$0	–	-1,345	–	-0.21%	–
JPM	Exit	JPMORGAN CHASE & CO COM	$0	–	-22,673	–	-0.21%	–
AMAT	Exit	APPLIED MATLS INC COM	$0	–	-54,568	–	-0.22%	–
MMC	Exit	MARSH & MCLENNAN COS INC COM	$0	–	-27,939	–	-0.22%	–
MGA	Exit	MAGNA INTL INC COM	$0	–	-39,619	–	-0.22%	–
V	Exit	VISA INC COM CL Acl a	$0	–	-16,463	–	-0.22%	–
NKE	Exit	NIKE INC CL Bcl b	$0	–	-30,077	–	-0.22%	–
VICI	Exit	VICI PPTYS INC COM	$0	–	-125,900	–	-0.23%	–
IQV	Exit	IQVIA HLDGS INC COM	$0	–	-20,811	–	-0.25%	–
MA	Exit	MASTERCARD INC CL Acl a	$0	–	-11,976	–	-0.26%	–
GRPU	Exit	GRANITE REAL ESTATE INVT TR UNIT 99/99/9999unit 99/99/9999	$0	–	-55,333	–	-0.28%	–
CSCO	Exit	CISCO SYS INC COM	$0	–	-76,142	–	-0.30%	–
EL	Exit	LAUDER ESTEE COS INC CL Acl a	$0	–	-19,629	–	-0.31%	–
BLK	Exit	BLACKROCK INC COM	$0	–	-8,933	–	-0.32%	–
DE	Exit	DEERE & CO COM	$0	–	-25,912	–	-0.35%	–
MDT	Exit	MEDTRONIC PLC SHS	$0	–	-42,931	–	-0.37%	–
STOR	Exit	STORE CAP CORP COM	$0	–	-133,914	–	-0.40%	–
SNBR	Exit	SLEEP NUMBER CORP COM	$0	–	-123,473	–	-0.41%	–
AMH	Exit	AMERICAN HOMES 4 RENT CL Acl a	$0	–	-197,100	–	-0.41%	–
STRA	Exit	STRATEGIC ED INC COM	$0	–	-37,681	–	-0.41%	–
CUZ	Exit	COUSINS PPTYS INC COM NEW	$0	–	-137,000	–	-0.41%	–
KALU	Exit	KAISER ALUMINUM CORP COM PAR $0.01	$0	–	-52,416	–	-0.41%	–
EXR	Exit	EXTRA SPACE STORAGE INC COM	$0	–	-45,000	–	-0.42%	–
GOOGL	Exit	ALPHABET INC CAP STK CL Acl a	$0	–	-4,477	–	-0.44%	–
ADM	Exit	ARCHER DANIELS MIDLAND CO COM	$0	–	-135,072	–	-0.44%	–
MSFT	Exit	MICROSOFT CORP COM	$0	–	-41,207	–	-0.46%	–
DRH	Exit	DIAMONDROCK HOSPITALITY CO COM	$0	–	-584,493	–	-0.48%	–
VREX	Exit	VAREX IMAGING CORP COM	$0	–	-211,297	–	-0.48%	–
GNTX	Exit	GENTEX CORP COM	$0	–	-229,977	–	-0.50%	–
TECD	Exit	TECH DATA CORP COM	$0	–	-60,993	–	-0.51%	–
TCBI	Exit	TEXAS CAPITAL BANCSHARES INC COM	$0	–	-116,398	–	-0.51%	–
PEG	Exit	PUBLIC SVC ENTERPRISE GRP IN COM	$0	–	-110,857	–	-0.55%	–
SYNA	Exit	SYNAPTICS INC COM	$0	–	-192,165	–	-0.61%	–
TER	Exit	TERADYNE INC COM	$0	–	-136,597	–	-0.63%	–
ARGO	Exit	ARGO GROUP INTL HLDGS LTD COM	$0	–	-114,020	–	-0.64%	–
MRC	Exit	MRC GLOBAL INC COM	$0	–	-753,634	–	-0.73%	–
CBT	Exit	CABOT CORP COM	$0	–	-206,669	–	-0.74%	–
TCF	Exit	TCF FINANCIAL CORPORATION NE COM	$0	–	-247,986	–	-0.75%	–
TRN	Exit	TRINITY INDS INC COM	$0	–	-484,019	–	-0.76%	–
KRO	Exit	KRONOS WORLDWIDE INC COM	$0	–	-788,207	–	-0.78%	–
EQR	Exit	EQUITY RESIDENTIAL SH BEN INTsh ben int	$0	–	-113,800	–	-0.78%	–
RNR	Exit	RENAISSANCERE HOLDINGS LTD COM	$0	–	-52,568	–	-0.81%	–
EPR	Exit	EPR PPTYS COM SH BEN INTsh ben int	$0	–	-136,873	–	-0.84%	–
ENS	Exit	ENERSYS COM	$0	–	-165,502	–	-0.87%	–
NNN	Exit	NATIONAL RETAIL PPTYS INC COM	$0	–	-197,883	–	-0.89%	–
DK	Exit	DELEK US HLDGS INC NEW COM	$0	–	-311,088	–	-0.90%	–
PHI	Exit	PLDT INC SPONSORED ADRadr	$0	–	-527,498	–	-0.92%	–
HST	Exit	HOST HOTELS & RESORTS INC COM	$0	–	-675,657	–	-0.93%	–
OMC	Exit	OMNICOM GROUP INC COM	$0	–	-150,374	–	-0.94%	–
IVZ	Exit	INVESCO LTD SHS	$0	–	-699,352	–	-0.94%	–
LXFR	Exit	LUXFER HOLDINGS PLC SHS	$0	–	-773,610	–	-0.96%	–
SSW	Exit	SEASPAN CORP SHS	$0	–	-1,137,632	–	-0.96%	–
HPP	Exit	HUDSON PAC PPTYS INC COM	$0	–	-370,217	–	-0.99%	–
REG	Exit	REGENCY CTRS CORP COM	$0	–	-181,017	–	-1.00%	–
AEO	Exit	AMERICAN EAGLE OUTFITTERS IN COM	$0	–	-776,791	–	-1.00%	–
JBL	Exit	JABIL INC COM	$0	–	-359,729	–	-1.02%	–
EGP	Exit	EASTGROUP PPTY INC COM	$0	–	-103,800	–	-1.03%	–
VLO	Exit	VALERO ENERGY CORP NEW COM	$0	–	-155,460	–	-1.05%	–
HTA	Exit	HEALTHCARE TR AMER INC CL A NEWcl a new	$0	–	-456,681	–	-1.07%	–
LHCG	Exit	LHC GROUP INC COM	$0	–	-119,126	–	-1.08%	–
CUBE	Exit	CUBESMART COM	$0	–	-397,728	–	-1.10%	–
THR	Exit	THERMON GROUP HLDGS INC COM	$0	–	-607,815	–	-1.11%	–
SAVE	Exit	SPIRIT AIRLS INC COM	$0	–	-384,892	–	-1.11%	–
PLD	Exit	PROLOGIS INC COM	$0	–	-171,835	–	-1.16%	–
INVH	Exit	INVITATION HOMES INC COM	$0	–	-520,800	–	-1.23%	–
BBBY	Exit	BED BATH & BEYOND INC COM	$0	–	-1,465,227	–	-1.24%	–
COR	Exit	CORESITE RLTY CORP COM	$0	–	-128,987	–	-1.25%	–
FSLR	Exit	FIRST SOLAR INC COM	$0	–	-274,238	–	-1.27%	–
HR	Exit	HEALTHCARE RLTY TR COM	$0	–	-491,070	–	-1.31%	–
ARE	Exit	ALEXANDRIA REAL ESTATE EQ IN COM	$0	–	-107,600	–	-1.32%	–
LB	Exit	L BRANDS INC COM	$0	–	-858,872	–	-1.34%	–
ANF	Exit	ABERCROMBIE & FITCH CO CL Acl a	$0	–	-1,078,862	–	-1.34%	–
AEL	Exit	AMERICAN EQTY INVT LIFE HLD COM	$0	–	-725,126	–	-1.40%	–
FNF	Exit	FIDELITY NATIONAL FINANCIAL FNF GROUP COM	$0	–	-400,000	–	-1.41%	–
SPG	Exit	SIMON PPTY GROUP INC NEW COM	$0	–	-114,902	–	-1.42%	–
BC	Exit	BRUNSWICK CORP COM	$0	–	-367,147	–	-1.52%	–
ESRT	Exit	EMPIRE ST RLTY TR INC CL Acl a	$0	–	-1,374,174	–	-1.56%	–
AVB	Exit	AVALONBAY CMNTYS INC COM	$0	–	-94,268	–	-1.62%	–
VIV	Exit	TELEFONICA BRASIL SA SPONSORED ADRadr	$0	–	-1,568,539	–	-1.64%	–
SKM	Exit	SK TELECOM LTD SPONSORED ADRadr	$0	–	-931,567	–	-1.64%	–
VZ	Exit	VERIZON COMMUNICATIONS INC COM	$0	–	-356,638	–	-1.71%	–
XOM	Exit	EXXON MOBIL CORP COM	$0	–	-306,199	–	-1.72%	–
SLB	Exit	SCHLUMBERGER LTD COM	$0	–	-632,990	–	-1.72%	–
RPAI	Exit	RETAIL PPTYS AMER INC CL Acl a	$0	–	-1,767,818	–	-1.73%	–
RWT	Exit	REDWOOD TR INC COM	$0	–	-1,330,644	–	-1.74%	–
KEY	Exit	KEYCORP NEW COM	$0	–	-1,224,830	–	-1.74%	–
CFG	Exit	CITIZENS FINL GROUP INC COM	$0	–	-618,398	–	-1.74%	–
TRTN	Exit	TRITON INTL LTD CL Acl a	$0	–	-650,177	–	-1.75%	–
HBAN	Exit	HUNTINGTON BANCSHARES INC COM	$0	–	-1,543,781	–	-1.75%	–
CAH	Exit	CARDINAL HEALTH INC COM	$0	–	-476,990	–	-1.79%	–
TPR	Exit	TAPESTRY INC COM	$0	–	-880,877	–	-1.83%	–
PRU	Exit	PRUDENTIAL FINL INC COM	$0	–	-261,007	–	-1.87%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADSsponsored ads	$0	–	-525,131	–	-1.94%	–
PPL	Exit	PPL CORP COM	$0	–	-864,937	–	-2.17%	–
GILD	Exit	GILEAD SCIENCES INC COM	$0	–	-436,102	–	-2.20%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N SHS - A -	$0	–	-311,185	–	-2.22%	–
CM	Exit	CDN IMPERIAL BK COMM TORONTO COM	$0	–	-264,717	–	-2.30%	–

Q3 2019

			Value		Shares		↓ Weighting
CM	Buy	CDN IMPERIAL BK COMM TORONTO COM	$28,936,000	+7.3%	264,717	+1.1%	2.30%	-1.7%
LYB	Buy	LYONDELLBASELL INDUSTRIES N SHS - A -	$27,841,000	+9.4%	311,185	+5.3%	2.22%	+0.2%
GILD	Buy	GILEAD SCIENCES INC COM	$27,640,000	+7.5%	436,102	+14.6%	2.20%	-1.5%
PPL	Buy	PPL CORP COM	$27,237,000	+34.5%	864,937	+32.4%	2.17%	+23.1%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADSsponsored ads	$24,407,000	+11.2%	525,131	-6.2%	1.94%	+1.9%
PRU	Buy	PRUDENTIAL FINL INC COM	$23,478,000	+4.0%	261,007	+16.8%	1.87%	-4.7%
TPR	Buy	TAPESTRY INC COM	$22,947,000	+3.5%	880,877	+26.0%	1.83%	-5.2%
CAH	Buy	CARDINAL HEALTH INC COM	$22,510,000	+8.3%	476,990	+8.1%	1.79%	-0.8%
HBAN	Buy	HUNTINGTON BANCSHARES INC COM	$22,029,000	+7.2%	1,543,781	+3.9%	1.75%	-1.8%
TRTN	Buy	TRITON INTL LTD CL Acl a	$22,001,000	+10.8%	650,177	+7.3%	1.75%	+1.4%
CFG	Buy	CITIZENS FINL GROUP INC COM	$21,873,000	+6.1%	618,398	+6.1%	1.74%	-2.8%
KEY	Buy	KEYCORP NEW COM	$21,851,000	+5.5%	1,224,830	+4.9%	1.74%	-3.4%
RWT	Buy	REDWOOD TR INC COM	$21,836,000	+12.6%	1,330,644	+13.4%	1.74%	+3.1%
RPAI	Buy	RETAIL PPTYS AMER INC CL Acl a	$21,780,000	+18.2%	1,767,818	+12.8%	1.73%	+8.2%
SLB	Buy	SCHLUMBERGER LTD COM	$21,630,000	+100.2%	632,990	+132.8%	1.72%	+83.3%
XOM	Buy	EXXON MOBIL CORP COM	$21,620,000	+5.0%	306,199	+13.9%	1.72%	-3.9%
VZ	Sell	VERIZON COMMUNICATIONS INC COM	$21,527,000	+5.6%	356,638	-0.1%	1.71%	-3.3%
SKM	Buy	SK TELECOM LTD SPONSORED ADRadr	$20,681,000	+7.2%	931,567	+19.5%	1.64%	-1.9%
VIV	Buy	TELEFONICA BRASIL SA SPONSORED ADRadr	$20,658,000	+1.6%	1,568,539	+0.4%	1.64%	-7.0%
AVB	Buy	AVALONBAY CMNTYS INC COM	$20,299,000	+8.2%	94,268	+2.1%	1.62%	-0.9%
ESRT	Buy	EMPIRE ST RLTY TR INC CL Acl a	$19,609,000	+24.0%	1,374,174	+28.6%	1.56%	+13.5%
BC	Buy	BRUNSWICK CORP COM	$19,136,000	+16.3%	367,147	+2.4%	1.52%	+6.6%
SPG	Buy	SIMON PPTY GROUP INC NEW COM	$17,884,000	-0.5%	114,902	+2.2%	1.42%	-8.8%
FNF	Sell	FIDELITY NATIONAL FINANCIAL FNF GROUP COM	$17,764,000	-13.5%	400,000	-21.5%	1.41%	-20.8%
AEL	Buy	AMERICAN EQTY INVT LIFE HLD COM	$17,548,000	+46.5%	725,126	+64.4%	1.40%	+34.1%
ANF	Buy	ABERCROMBIE & FITCH CO CL Acl a	$16,830,000	+5.7%	1,078,862	+8.7%	1.34%	-3.2%
LB	Buy	L BRANDS INC COM	$16,825,000	-17.2%	858,872	+10.3%	1.34%	-24.1%
ARE	Buy	ALEXANDRIA REAL ESTATE EQ IN COM	$16,575,000	+11.7%	107,600	+2.3%	1.32%	+2.2%
HR	Buy	HEALTHCARE RLTY TR COM	$16,450,000	+227.2%	491,070	+206.0%	1.31%	+199.5%
FSLR	Buy	FIRST SOLAR INC COM	$15,909,000	+15.3%	274,238	+30.6%	1.27%	+5.6%
COR	Buy	CORESITE RLTY CORP COM	$15,717,000	+23.7%	128,987	+17.0%	1.25%	+13.3%
BBBY	Buy	BED BATH & BEYOND INC COM	$15,590,000	+35.4%	1,465,227	+47.8%	1.24%	+23.9%
INVH	Buy	INVITATION HOMES INC COM	$15,421,000	+29.3%	520,800	+16.7%	1.23%	+18.4%
PLD	Sell	PROLOGIS INC COM	$14,643,000	+0.0%	171,835	-6.0%	1.16%	-8.4%
SAVE	Buy	SPIRIT AIRLS INC COM	$13,972,000	+65.2%	384,892	+117.2%	1.11%	+51.3%
THR	Buy	THERMON GROUP HLDGS INC COM	$13,968,000	+12.8%	607,815	+25.9%	1.11%	+3.3%
CUBE	Sell	CUBESMART COM	$13,881,000	-26.2%	397,728	-29.3%	1.10%	-32.4%
LHCG	Buy	LHC GROUP INC COM	$13,528,000	+13.6%	119,126	+19.6%	1.08%	+4.0%
HTA	Buy	HEALTHCARE TR AMER INC CL A NEWcl a new	$13,418,000	+8.7%	456,681	+1.5%	1.07%	-0.5%
VLO	Buy	VALERO ENERGY CORP NEW COM	$13,251,000	+5.5%	155,460	+5.9%	1.05%	-3.5%
EGP	Buy	EASTGROUP PPTY INC COM	$12,976,000	+16.1%	103,800	+7.7%	1.03%	+6.3%
JBL	Buy	JABIL INC COM	$12,868,000	+64.6%	359,729	+45.4%	1.02%	+50.8%
AEO	Buy	AMERICAN EAGLE OUTFITTERS IN COM	$12,600,000	+36.8%	776,791	+42.5%	1.00%	+25.4%
REG	Buy	REGENCY CTRS CORP COM	$12,579,000	+6.2%	181,017	+2.0%	1.00%	-2.7%
HPP	New	HUDSON PAC PPTYS INC COM	$12,388,000	–	370,217	–	0.99%	–
SSW	Buy	SEASPAN CORP SHS	$12,093,000	+28.0%	1,137,632	+18.2%	0.96%	+17.2%
LXFR	Buy	LUXFER HOLDINGS PLC SHS	$12,053,000	+41.7%	773,610	+123.0%	0.96%	+29.8%
IVZ	Sell	INVESCO LTD SHS	$11,847,000	-26.7%	699,352	-11.5%	0.94%	-32.9%
OMC	Buy	OMNICOM GROUP INC COM	$11,774,000	+3.9%	150,374	+8.8%	0.94%	-4.8%
HST	Buy	HOST HOTELS & RESORTS INC COM	$11,682,000	+15.8%	675,657	+22.0%	0.93%	+6.1%
PHI	Buy	PLDT INC SPONSORED ADRadr	$11,605,000	+1.6%	527,498	+14.7%	0.92%	-7.0%
DK	Buy	DELEK US HLDGS INC NEW COM	$11,292,000	+19.7%	311,088	+33.7%	0.90%	+9.6%
NNN	Sell	NATIONAL RETAIL PPTYS INC COM	$11,160,000	-10.4%	197,883	-15.8%	0.89%	-17.9%
ENS	Buy	ENERSYS COM	$10,913,000	+11.3%	165,502	+15.6%	0.87%	+1.9%
EPR	Buy	EPR PPTYS COM SH BEN INTsh ben int	$10,520,000	+153.8%	136,873	+146.3%	0.84%	+132.5%
RNR	Sell	RENAISSANCERE HOLDINGS LTD COM	$10,169,000	-8.5%	52,568	-15.8%	0.81%	-16.3%
EQR	New	EQUITY RESIDENTIAL SH BEN INTsh ben int	$9,816,000	–	113,800	–	0.78%	–
KRO	Buy	KRONOS WORLDWIDE INC COM	$9,750,000	+44.0%	788,207	+78.3%	0.78%	+32.0%
TRN	Buy	TRINITY INDS INC COM	$9,525,000	+13.6%	484,019	+19.8%	0.76%	+4.1%
TCF	New	TCF FINANCIAL CORPORATION NE COM	$9,441,000	–	247,986	–	0.75%	–
CBT	Sell	CABOT CORP COM	$9,366,000	-5.8%	206,669	-0.9%	0.74%	-13.8%
MRC	Buy	MRC GLOBAL INC COM	$9,142,000	+9.0%	753,634	+53.8%	0.73%	-0.3%
ARGO	Buy	ARGO GROUP INTL HLDGS LTD COM	$8,009,000	+13.2%	114,020	+19.4%	0.64%	+3.7%
TER	Sell	TERADYNE INC COM	$7,910,000	+11.5%	136,597	-7.7%	0.63%	+2.1%
SYNA	Sell	SYNAPTICS INC COM	$7,677,000	-3.6%	192,165	-29.7%	0.61%	-11.7%
PEG	Sell	PUBLIC SVC ENTERPRISE GRP IN COM	$6,882,000	-39.8%	110,857	-43.0%	0.55%	-44.9%
TCBI	Buy	TEXAS CAPITAL BANCSHARES INC COM	$6,361,000	+9.1%	116,398	+22.5%	0.51%	0.0%
TECD	Buy	TECH DATA CORP COM	$6,358,000	+66.9%	60,993	+67.5%	0.51%	+52.9%
GNTX	Buy	GENTEX CORP COM	$6,332,000	+47.0%	229,977	+31.4%	0.50%	+34.8%
VREX	Buy	VAREX IMAGING CORP COM	$6,030,000	+11.9%	211,297	+20.2%	0.48%	+2.6%
DRH	Buy	DIAMONDROCK HOSPITALITY CO COM	$5,991,000	+23.5%	584,493	+24.5%	0.48%	+13.0%
MSFT	Sell	MICROSOFT CORP COM	$5,729,000	-3.2%	41,207	-6.7%	0.46%	-11.3%
ADM	Buy	ARCHER DANIELS MIDLAND CO COM	$5,548,000	+1839.9%	135,072	+1823.6%	0.44%	+1664.0%
GOOGL	Sell	ALPHABET INC CAP STK CL Acl a	$5,467,000	+3.9%	4,477	-7.9%	0.44%	-4.8%
EXR	New	EXTRA SPACE STORAGE INC COM	$5,257,000	–	45,000	–	0.42%	–
KALU	Buy	KAISER ALUMINUM CORP COM PAR $0.01	$5,188,000	+35.7%	52,416	+33.9%	0.41%	+24.4%
CUZ	New	COUSINS PPTYS INC COM NEW	$5,150,000	–	137,000	–	0.41%	–
STRA	Buy	STRATEGIC ED INC COM	$5,120,000	-22.0%	37,681	+2.2%	0.41%	-28.6%
AMH	New	AMERICAN HOMES 4 RENT CL Acl a	$5,103,000	–	197,100	–	0.41%	–
SNBR	Buy	SLEEP NUMBER CORP COM	$5,102,000	+2.9%	123,473	+0.6%	0.41%	-5.8%
STOR	Sell	STORE CAP CORP COM	$5,009,000	-31.5%	133,914	-39.2%	0.40%	-37.2%
MDT	Buy	MEDTRONIC PLC SHS	$4,663,000	+81.4%	42,931	+62.6%	0.37%	+66.4%
DE	Sell	DEERE & CO COM	$4,371,000	-4.8%	25,912	-6.5%	0.35%	-12.8%
BLK	Sell	BLACKROCK INC COM	$3,981,000	-10.2%	8,933	-5.4%	0.32%	-17.7%
EL	Sell	LAUDER ESTEE COS INC CL Acl a	$3,905,000	+2.0%	19,629	-6.1%	0.31%	-6.6%
CSCO	Sell	CISCO SYS INC COM	$3,762,000	-14.2%	76,142	-5.0%	0.30%	-21.5%
GRPU	New	GRANITE REAL ESTATE INVT TR UNIT 99/99/9999unit 99/99/9999	$3,550,000	–	55,333	–	0.28%	–
MA	Sell	MASTERCARD INC CL Acl a	$3,252,000	0.0%	11,976	-2.6%	0.26%	-8.5%
IQV	Sell	IQVIA HLDGS INC COM	$3,108,000	-9.0%	20,811	-1.9%	0.25%	-16.8%
VICI	New	VICI PPTYS INC COM	$2,851,000	–	125,900	–	0.23%	–
NKE	Sell	NIKE INC CL Bcl b	$2,824,000	+10.1%	30,077	-1.6%	0.22%	+0.9%
V	Sell	VISA INC COM CL Acl a	$2,832,000	-11.3%	16,463	-10.5%	0.22%	-18.8%
MGA	Sell	MAGNA INTL INC COM	$2,798,000	-13.0%	39,619	-19.7%	0.22%	-20.1%
MMC	Sell	MARSH & MCLENNAN COS INC COM	$2,796,000	-2.1%	27,939	-2.4%	0.22%	-10.5%
AMAT	Sell	APPLIED MATLS INC COM	$2,723,000	+9.2%	54,568	-1.8%	0.22%	0.0%
JPM	Sell	JPMORGAN CHASE & CO COM	$2,669,000	+3.3%	22,673	-1.9%	0.21%	-5.4%
BKNG	Sell	BOOKING HLDGS INC COM	$2,640,000	-5.4%	1,345	-9.7%	0.21%	-13.2%
ALLE	Sell	ALLEGION PUB LTD CO ORD SHS	$2,560,000	-9.5%	24,700	-3.5%	0.20%	-17.1%
SYY	Sell	SYSCO CORP COM	$2,476,000	+10.3%	31,193	-1.8%	0.20%	+1.0%
EIX	Buy	EDISON INTL COM	$2,369,000	+743.1%	31,411	+652.5%	0.19%	+683.3%
FRT	New	FEDERAL REALTY INVT TR SH BEN INT NEWsh ben int new	$2,296,000	–	16,868	–	0.18%	–
TD	Sell	TORONTO DOMINION BK ONT COM NEW	$2,230,000	-10.5%	28,866	-11.3%	0.18%	-18.1%
APD	Sell	AIR PRODS & CHEMS INC COM	$2,004,000	-17.3%	9,032	-15.6%	0.16%	-24.3%
XYL	Sell	XYLEM INC COM	$1,986,000	-6.7%	24,945	-2.0%	0.16%	-14.6%
WWW	Sell	WOLVERINE WORLD WIDE INC COM	$1,821,000	-27.7%	64,455	-29.5%	0.14%	-33.8%
DIS	Sell	DISNEY WALT CO COM DISNEY	$1,764,000	-18.8%	13,534	-13.0%	0.14%	-25.9%
PPG	Sell	PPG INDS INC COM	$1,731,000	-1.8%	14,610	-3.3%	0.14%	-9.8%
AXP	Sell	AMERICAN EXPRESS CO COM	$1,625,000	-14.3%	13,739	-10.6%	0.13%	-21.8%
HPQ	Sell	HP INC COM	$1,566,000	-19.3%	82,745	-11.3%	0.12%	-26.0%
PSX	Sell	PHILLIPS 66 COM	$1,466,000	-9.1%	14,312	-17.0%	0.12%	-16.4%
PEP	Sell	PEPSICO INC COM	$1,475,000	-13.7%	10,756	-17.5%	0.12%	-21.5%
AMGN	Sell	AMGEN INC COM	$1,412,000	-18.0%	7,296	-21.9%	0.11%	-25.3%
AAPL	Sell	APPLE INC COM	$1,384,000	-10.0%	6,178	-20.5%	0.11%	-17.9%
NSC	Sell	NORFOLK SOUTHERN CORP COM	$1,362,000	-20.7%	7,581	-12.0%	0.11%	-27.5%
ANTM	Sell	ANTHEM INC COM	$1,340,000	-23.6%	5,583	-10.1%	0.11%	-29.6%
FDX	Sell	FEDEX CORP COM	$1,326,000	-22.1%	9,108	-12.1%	0.11%	-28.4%
NEE	Buy	NEXTERA ENERGY INC COM	$1,319,000	+60.1%	5,661	+40.7%	0.10%	+45.8%
WM	Sell	WASTE MGMT INC DEL COM	$1,192,000	-14.8%	10,362	-14.5%	0.10%	-22.1%
ROST	Sell	ROSS STORES INC COM	$972,000	-18.3%	8,846	-26.2%	0.08%	-25.2%
GIB	Sell	CGI INC CL A SUB VTGcl a sub vtg	$951,000	-18.4%	9,077	-21.5%	0.08%	-24.8%
AMT	Buy	AMERICAN TOWER CORP NEW COM	$934,000	+83.5%	4,222	+69.7%	0.07%	+68.2%
BBT	Sell	BB&T CORP COM	$885,000	-15.7%	16,591	-22.3%	0.07%	-23.1%
TJX	Sell	TJX COS INC NEW COM	$870,000	-3.9%	15,602	-8.9%	0.07%	-12.7%
RCL	New	ROYAL CARIBBEAN CRUISES LTD COM	$848,000	–	7,825	–	0.07%	–
T	Sell	AT&T INC COM	$835,000	-18.9%	22,073	-28.1%	0.07%	-25.8%
MRK	Sell	MERCK & CO INC COM	$811,000	-7.4%	9,630	-7.8%	0.06%	-14.5%
OKE	Sell	ONEOK INC NEW COM	$793,000	+2.7%	10,762	-4.1%	0.06%	-6.0%
AEP	Buy	AMERICAN ELEC PWR CO INC COM	$762,000	+266.3%	8,137	+245.1%	0.06%	+238.9%
PBA	Buy	PEMBINA PIPELINE CORP COM	$756,000	+206.1%	15,395	+203.7%	0.06%	+185.7%
LUV	Sell	SOUTHWEST AIRLS CO COM	$729,000	-19.0%	13,495	-23.9%	0.06%	-25.6%
PG	Sell	PROCTER & GAMBLE CO COM	$734,000	-2.7%	5,903	-14.2%	0.06%	-12.1%
FMC	Sell	F M C CORP COM NEW	$723,000	-24.4%	8,246	-28.5%	0.06%	-30.1%
NVO	New	NOVO-NORDISK A S ADRadr	$700,000	–	13,543	–	0.06%	–
PFE	Sell	PFIZER INC COM	$697,000	-31.4%	19,385	-17.4%	0.06%	-37.5%
XEL	Buy	XCEL ENERGY INC COM	$695,000	+49.1%	10,708	+36.6%	0.06%	+37.5%
ES	Buy	EVERSOURCE ENERGY COM	$663,000	+54.5%	7,756	+36.8%	0.05%	+43.2%
CNP	Sell	CENTERPOINT ENERGY INC COM	$654,000	-73.0%	21,677	-74.4%	0.05%	-75.4%
ZBH	Sell	ZIMMER BIOMET HLDGS INC COM	$659,000	-17.0%	4,803	-28.8%	0.05%	-24.6%
BDX	Sell	BECTON DICKINSON & CO COM	$631,000	-22.4%	2,495	-22.7%	0.05%	-29.6%
AWK	Buy	AMERICAN WTR WKS CO INC NEW COM	$632,000	+84.8%	5,084	+72.3%	0.05%	+66.7%
SYF	Sell	SYNCHRONY FINL COM	$613,000	-28.2%	17,994	-26.9%	0.05%	-33.8%
VTR	Sell	VENTAS INC COM	$606,000	-92.0%	8,300	-92.5%	0.05%	-92.7%
MET	Sell	METLIFE INC COM	$607,000	-26.6%	12,862	-22.8%	0.05%	-33.3%
CMS	Buy	CMS ENERGY CORP COM	$591,000	+50.4%	9,241	+36.0%	0.05%	+38.2%
ETN	New	EATON CORP PLC SHS	$595,000	–	7,150	–	0.05%	–
OXY	Buy	OCCIDENTAL PETE CORP COM	$569,000	+1.6%	12,784	+14.8%	0.04%	-8.2%
WMB	Buy	WILLIAMS COS INC DEL COM	$568,000	+60.5%	23,611	+87.1%	0.04%	+45.2%
CSX	Buy	CSX CORP COM	$569,000	+43.0%	8,221	+59.8%	0.04%	+28.6%
CP	Buy	CANADIAN PAC RY LTD COM	$549,000	+104.1%	1,866	+114.0%	0.04%	+91.3%
PSA	Sell	PUBLIC STORAGE COM	$484,000	-95.6%	1,973	-95.8%	0.04%	-96.0%
EQIX	Buy	EQUINIX INC COM	$467,000	+57.2%	809	+37.6%	0.04%	+42.3%
STAG	New	STAG INDL INC COM	$348,000	–	11,800	–	0.03%	–
LNG	Buy	CHENIERE ENERGY INC COM NEW	$339,000	+14.5%	5,375	+24.1%	0.03%	+3.8%
INTC	Sell	INTEL CORP COM	$226,000	-7.0%	4,377	-13.7%	0.02%	-14.3%
HD	New	HOME DEPOT INC COM	$206,000	–	888	–	0.02%	–
ENB	Buy	ENBRIDGE INC COM	$178,000	+161.8%	3,837	+164.6%	0.01%	+133.3%
AER	Sell	AERCAP HOLDINGS NV SHS	$126,000	-46.2%	2,300	-48.9%	0.01%	-50.0%
MDLZ	Sell	MONDELEZ INTL INC CL Acl a	$121,000	-93.9%	2,187	-94.1%	0.01%	-94.2%
C	Sell	CITIGROUP INC COM NEW	$131,000	-13.2%	1,890	-12.5%	0.01%	-23.1%
D	Buy	DOMINION ENERGY INC COM	$130,000	+38.3%	1,605	+31.8%	0.01%	+25.0%
SRE	Buy	SEMPRA ENERGY COM	$101,000	+165.8%	687	+148.9%	0.01%	+166.7%
ORCL	Sell	ORACLE CORP COM	$104,000	-94.1%	1,886	-93.9%	0.01%	-94.8%
TPC	Buy	TUTOR PERINI CORP COM	$90,000	+40.6%	6,300	+35.8%	0.01%	+16.7%
AR	Buy	ANTERO RES CORP COM	$52,000	-32.5%	17,135	+23.1%	0.00%	-42.9%
BCE	New	BCE INC COM NEW	$36,000	–	556	–	0.00%	–
NVDA	New	NVIDIA CORP COM	$22,000	–	128	–	0.00%	–
PCG	Buy	PG&E CORP COM	$30,000	-9.1%	2,959	+106.3%	0.00%	-33.3%
MMM	Exit	3M CO COM	$0	–	-146	–	-0.00%	–
SU	Exit	SUNCOR ENERGY INC NEW COM	$0	–	-1,114	–	-0.00%	–
JNJ	Exit	JOHNSON & JOHNSON COM	$0	–	-343	–	-0.00%	–
DUK	Exit	DUKE ENERGY CORP NEW COM NEW	$0	–	-673	–	-0.01%	–
UNP	Exit	UNION PACIFIC CORP COM	$0	–	-378	–	-0.01%	–
SBAC	Exit	SBA COMMUNICATIONS CORP NEW CL Acl a	$0	–	-517	–	-0.01%	–
TSN	Exit	TYSON FOODS INC CL Acl a	$0	–	-1,847	–	-0.01%	–
TRP	Exit	TC ENERGY CORP COM	$0	–	-2,421	–	-0.01%	–
EVRG	Exit	EVERGY INC COM	$0	–	-3,534	–	-0.02%	–
ESS	Exit	ESSEX PPTY TR INC COM	$0	–	-807	–	-0.02%	–
SHO	Exit	SUNSTONE HOTEL INVS INC NEW COM	$0	–	-144,400	–	-0.17%	–
UE	Exit	URBAN EDGE PPTYS COM	$0	–	-120,400	–	-0.18%	–
VER	Exit	VEREIT INC COM	$0	–	-305,192	–	-0.24%	–
SAFM	Exit	SANDERSON FARMS INC COM	$0	–	-21,900	–	-0.26%	–
CPA	Exit	COPA HOLDINGS SA CL Acl a	$0	–	-32,403	–	-0.28%	–
HOPE	Exit	HOPE BANCORP INC COM	$0	–	-320,867	–	-0.38%	–
HIW	Exit	HIGHWOODS PPTYS INC COM	$0	–	-120,932	–	-0.43%	–
OFC	Exit	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$0	–	-369,200	–	-0.85%	–
MAA	Exit	MID AMER APT CMNTYS INC COM	$0	–	-119,831	–	-1.23%	–

Q2 2019

			Value		Shares		↓ Weighting
CM	New	CDN IMPERIAL BK COMM TORONTO COM	$26,973,000	–	261,927	–	2.34%	–
GILD	New	GILEAD SCIENCES INC COM	$25,707,000	–	380,512	–	2.23%	–
LYB	New	LYONDELLBASELL INDUSTRIES N SHS - A -	$25,449,000	–	295,475	–	2.21%	–
PRU	New	PRUDENTIAL FINL INC COM	$22,577,000	–	223,533	–	1.96%	–
TPR	New	TAPESTRY INC COM	$22,177,000	–	698,953	–	1.93%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADSsponsored ads	$21,939,000	–	560,107	–	1.91%	–
CAH	New	CARDINAL HEALTH INC COM	$20,783,000	–	441,240	–	1.81%	–
KEY	New	KEYCORP NEW COM	$20,716,000	–	1,167,090	–	1.80%	–
CFG	New	CITIZENS FINL GROUP INC COM	$20,609,000	–	582,818	–	1.79%	–
XOM	New	EXXON MOBIL CORP COM	$20,592,000	–	268,719	–	1.79%	–
FNF	New	FIDELITY NATIONAL FINANCIAL FNF GROUP COM	$20,547,000	–	509,843	–	1.78%	–
HBAN	New	HUNTINGTON BANCSHARES INC COM	$20,543,000	–	1,486,531	–	1.78%	–
VZ	New	VERIZON COMMUNICATIONS INC COM	$20,395,000	–	356,999	–	1.77%	–
VIV	New	TELEFONICA BRASIL SA SPONSORED ADRsponsored adr	$20,336,000	–	1,561,889	–	1.77%	–
LB	New	L BRANDS INC COM	$20,317,000	–	778,452	–	1.76%	–
PPL	New	PPL CORP COM	$20,257,000	–	653,217	–	1.76%	–
TRTN	New	TRITON INTL LTD CL Acl a	$19,858,000	–	606,160	–	1.72%	–
RWT	New	REDWOOD TR INC COM	$19,390,000	–	1,173,004	–	1.68%	–
SKM	New	SK TELECOM LTD SPONSORED ADRsponsored adr	$19,300,000	–	779,797	–	1.68%	–
CUBE	New	CUBESMART COM	$18,803,000	–	562,293	–	1.63%	–
AVB	New	AVALONBAY CMNTYS INC COM	$18,768,000	–	92,368	–	1.63%	–
RPAI	New	RETAIL PPTYS AMER INC CL Acl a	$18,426,000	–	1,566,838	–	1.60%	–
SPG	New	SIMON PPTY GROUP INC NEW COM	$17,971,000	–	112,483	–	1.56%	–
BC	New	BRUNSWICK CORP COM	$16,447,000	–	358,400	–	1.43%	–
IVZ	New	INVESCO LTD SHS	$16,167,000	–	790,172	–	1.40%	–
ANF	New	ABERCROMBIE & FITCH CO CL Acl a	$15,917,000	–	992,313	–	1.38%	–
ESRT	New	EMPIRE ST RLTY TR INC CL Acl a	$15,820,000	–	1,068,174	–	1.37%	–
ARE	New	ALEXANDRIA REAL ESTATE EQ IN COM	$14,843,000	–	105,200	–	1.29%	–
PLD	New	PROLOGIS INC COM	$14,639,000	–	182,767	–	1.27%	–
MAA	New	MID AMER APT CMNTYS INC COM	$14,111,000	–	119,831	–	1.23%	–
FSLR	New	FIRST SOLAR INC COM	$13,796,000	–	210,050	–	1.20%	–
COR	New	CORESITE RLTY CORP COM	$12,702,000	–	110,287	–	1.10%	–
VLO	New	VALERO ENERGY CORP NEW COM	$12,566,000	–	146,782	–	1.09%	–
NNN	New	NATIONAL RETAIL PPTYS INC COM	$12,451,000	–	234,883	–	1.08%	–
THR	New	THERMON GROUP HLDGS INC COM	$12,380,000	–	482,654	–	1.08%	–
HTA	New	HEALTHCARE TR AMER INC CL A NEWcl a new	$12,348,000	–	450,153	–	1.07%	–
AEL	New	AMERICAN EQTY INVT LIFE HLD COM	$11,979,000	–	441,043	–	1.04%	–
INVH	New	INVITATION HOMES INC COM	$11,924,000	–	446,100	–	1.04%	–
LHCG	New	LHC GROUP INC COM	$11,909,000	–	99,591	–	1.04%	–
REG	New	REGENCY CTRS CORP COM	$11,848,000	–	177,517	–	1.03%	–
BBBY	New	BED BATH & BEYOND INC COM	$11,517,000	–	991,147	–	1.00%	–
PEG	New	PUBLIC SVC ENTERPRISE GRP IN COM	$11,437,000	–	194,444	–	0.99%	–
PHI	New	PLDT INC SPONSORED ADRsponsored adr	$11,417,000	–	459,998	–	0.99%	–
OMC	New	OMNICOM GROUP INC COM	$11,327,000	–	138,219	–	0.98%	–
EGP	New	EASTGROUP PPTY INC COM	$11,181,000	–	96,400	–	0.97%	–
RNR	New	RENAISSANCERE HOLDINGS LTD COM	$11,117,000	–	62,454	–	0.97%	–
PSA	New	PUBLIC STORAGE COM	$11,100,000	–	46,607	–	0.96%	–
SLB	New	SCHLUMBERGER LTD COM	$10,804,000	–	271,870	–	0.94%	–
HST	New	HOST HOTELS & RESORTS INC COM	$10,089,000	–	553,757	–	0.88%	–
CBT	New	CABOT CORP COM	$9,945,000	–	208,454	–	0.86%	–
ENS	New	ENERSYS COM	$9,809,000	–	143,195	–	0.85%	–
OFC	New	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$9,736,000	–	369,200	–	0.85%	–
SSW	New	SEASPAN CORP SHS	$9,445,000	–	962,813	–	0.82%	–
DK	New	DELEK US HLDGS INC NEW COM	$9,431,000	–	232,757	–	0.82%	–
AEO	New	AMERICAN EAGLE OUTFITTERS IN COM	$9,211,000	–	545,024	–	0.80%	–
LXFR	New	LUXFER HOLDINGS PLC SHS	$8,508,000	–	346,972	–	0.74%	–
SAVE	New	SPIRIT AIRLS INC COM	$8,457,000	–	177,174	–	0.74%	–
MRC	New	MRC GLOBAL INC COM	$8,387,000	–	489,913	–	0.73%	–
TRN	New	TRINITY INDS INC COM	$8,384,000	–	404,057	–	0.73%	–
SYNA	New	SYNAPTICS INC COM	$7,960,000	–	273,158	–	0.69%	–
JBL	New	JABIL INC COM	$7,817,000	–	247,374	–	0.68%	–
VTR	New	VENTAS INC COM	$7,532,000	–	110,200	–	0.65%	–
STOR	New	STORE CAP CORP COM	$7,309,000	–	220,194	–	0.64%	–
TER	New	TERADYNE INC COM	$7,093,000	–	148,057	–	0.62%	–
ARGO	New	ARGO GROUP INTL HLDGS LTD COM	$7,073,000	–	95,520	–	0.61%	–
KRO	New	KRONOS WORLDWIDE INC COM	$6,771,000	–	442,000	–	0.59%	–
STRA	New	STRATEGIC ED INC COM	$6,563,000	–	36,873	–	0.57%	–
MSFT	New	MICROSOFT CORP COM	$5,916,000	–	44,163	–	0.51%	–
TCBI	New	TEXAS CAPITAL BANCSHARES INC COM	$5,830,000	–	95,000	–	0.51%	–
VREX	New	VAREX IMAGING CORP COM	$5,390,000	–	175,841	–	0.47%	–
GOOGL	New	ALPHABET INC CAP STK CL Acl a	$5,264,000	–	4,862	–	0.46%	–
HR	New	HEALTHCARE RLTY TR COM	$5,027,000	–	160,500	–	0.44%	–
HIW	New	HIGHWOODS PPTYS INC COM	$4,994,000	–	120,932	–	0.43%	–
SNBR	New	SLEEP NUMBER CORP COM	$4,958,000	–	122,744	–	0.43%	–
DRH	New	DIAMONDROCK HOSPITALITY CO COM	$4,852,000	–	469,293	–	0.42%	–
DE	New	DEERE & CO COM	$4,592,000	–	27,707	–	0.40%	–
BLK	New	BLACKROCK INC COM	$4,431,000	–	9,443	–	0.38%	–
HOPE	New	HOPE BANCORP INC COM	$4,422,000	–	320,867	–	0.38%	–
CSCO	New	CISCO SYS INC COM	$4,386,000	–	80,127	–	0.38%	–
GNTX	New	GENTEX CORP COM	$4,307,000	–	175,000	–	0.37%	–
EPR	New	EPR PPTYS COM SH BEN INTsh ben int	$4,145,000	–	55,582	–	0.36%	–
EL	New	LAUDER ESTEE COS INC CL Acl a	$3,830,000	–	20,913	–	0.33%	–
KALU	New	KAISER ALUMINUM CORP COM PAR $0.01	$3,822,000	–	39,154	–	0.33%	–
TECD	New	TECH DATA CORP COM	$3,809,000	–	36,412	–	0.33%	–
IQV	New	IQVIA HLDGS INC COM	$3,415,000	–	21,223	–	0.30%	–
MA	New	MASTERCARD INC CL Acl a	$3,252,000	–	12,294	–	0.28%	–
MGA	New	MAGNA INTL INC COM	$3,217,000	–	49,366	–	0.28%	–
V	New	VISA INC COM CL Acl a	$3,192,000	–	18,395	–	0.28%	–
CPA	New	COPA HOLDINGS SA CL Acl a	$3,162,000	–	32,403	–	0.28%	–
SAFM	New	SANDERSON FARMS INC COM	$2,991,000	–	21,900	–	0.26%	–
MMC	New	MARSH & MCLENNAN COS INC COM	$2,857,000	–	28,639	–	0.25%	–
ALLE	New	ALLEGION PUB LTD CO ORD SHS	$2,830,000	–	25,600	–	0.25%	–
BKNG	New	BOOKING HLDGS INC COM	$2,791,000	–	1,489	–	0.24%	–
VER	New	VEREIT INC COM	$2,750,000	–	305,192	–	0.24%	–
JPM	New	JPMORGAN CHASE & CO COM	$2,584,000	–	23,118	–	0.22%	–
NKE	New	NIKE INC CL Bcl b	$2,565,000	–	30,554	–	0.22%	–
MDT	New	MEDTRONIC PLC SHS	$2,571,000	–	26,400	–	0.22%	–
WWW	New	WOLVERINE WORLD WIDE INC COM	$2,519,000	–	91,460	–	0.22%	–
AMAT	New	APPLIED MATLS INC COM	$2,494,000	–	55,545	–	0.22%	–
TD	New	TORONTO DOMINION BK ONT COM NEW	$2,491,000	–	32,559	–	0.22%	–
CNP	New	CENTERPOINT ENERGY INC COM	$2,423,000	–	84,657	–	0.21%	–
APD	New	AIR PRODS & CHEMS INC COM	$2,422,000	–	10,699	–	0.21%	–
SYY	New	SYSCO CORP COM	$2,245,000	–	31,756	–	0.20%	–
DIS	New	DISNEY WALT CO COM DISNEY	$2,173,000	–	15,560	–	0.19%	–
XYL	New	XYLEM INC COM	$2,128,000	–	25,442	–	0.18%	–
UE	New	URBAN EDGE PPTYS COM	$2,087,000	–	120,400	–	0.18%	–
MDLZ	New	MONDELEZ INTL INC CL Acl a	$1,991,000	–	36,932	–	0.17%	–
SHO	New	SUNSTONE HOTEL INVS INC NEW COM	$1,979,000	–	144,400	–	0.17%	–
HPQ	New	HP INC COM	$1,940,000	–	93,325	–	0.17%	–
AXP	New	AMERICAN EXPRESS CO COM	$1,896,000	–	15,361	–	0.16%	–
ORCL	New	ORACLE CORP COM	$1,776,000	–	31,170	–	0.15%	–
PPG	New	PPG INDS INC COM	$1,763,000	–	15,110	–	0.15%	–
ANTM	New	ANTHEM INC COM	$1,753,000	–	6,211	–	0.15%	–
AMGN	New	AMGEN INC COM	$1,721,000	–	9,340	–	0.15%	–
NSC	New	NORFOLK SOUTHERN CORP COM	$1,717,000	–	8,615	–	0.15%	–
PEP	New	PEPSICO INC COM	$1,710,000	–	13,040	–	0.15%	–
FDX	New	FEDEX CORP COM	$1,702,000	–	10,365	–	0.15%	–
PSX	New	PHILLIPS 66 COM	$1,612,000	–	17,237	–	0.14%	–
AAPL	New	APPLE INC COM	$1,537,000	–	7,768	–	0.13%	–
WM	New	WASTE MGMT INC DEL COM	$1,399,000	–	12,122	–	0.12%	–
ROST	New	ROSS STORES INC COM	$1,189,000	–	11,991	–	0.10%	–
GIB	New	CGI INC CL A SUB VTGcl a sub vtg	$1,165,000	–	11,569	–	0.10%	–
BBT	New	BB&T CORP COM	$1,050,000	–	21,362	–	0.09%	–
T	New	AT&T INC COM	$1,029,000	–	30,705	–	0.09%	–
PFE	New	PFIZER INC COM	$1,016,000	–	23,461	–	0.09%	–
FMC	New	F M C CORP COM NEW	$956,000	–	11,528	–	0.08%	–
TJX	New	TJX COS INC NEW COM	$905,000	–	17,118	–	0.08%	–
LUV	New	SOUTHWEST AIRLS CO COM	$900,000	–	17,724	–	0.08%	–
MRK	New	MERCK & CO INC COM	$876,000	–	10,443	–	0.08%	–
SYF	New	SYNCHRONY FINL COM	$854,000	–	24,626	–	0.07%	–
MET	New	METLIFE INC COM	$827,000	–	16,651	–	0.07%	–
NEE	New	NEXTERA ENERGY INC COM	$824,000	–	4,024	–	0.07%	–
BDX	New	BECTON DICKINSON & CO COM	$813,000	–	3,226	–	0.07%	–
ZBH	New	ZIMMER BIOMET HLDGS INC COM	$794,000	–	6,746	–	0.07%	–
OKE	New	ONEOK INC NEW COM	$772,000	–	11,226	–	0.07%	–
PG	New	PROCTER AND GAMBLE CO COM	$754,000	–	6,879	–	0.07%	–
MS	New	MORGAN STANLEY COM NEW	$752,000	–	17,167	–	0.06%	–
OXY	New	OCCIDENTAL PETE CORP COM	$560,000	–	11,140	–	0.05%	–
AMT	New	AMERICAN TOWER CORP NEW COM	$509,000	–	2,488	–	0.04%	–
XEL	New	XCEL ENERGY INC COM	$466,000	–	7,839	–	0.04%	–
ES	New	EVERSOURCE ENERGY COM	$429,000	–	5,668	–	0.04%	–
CSX	New	CSX CORP COM	$398,000	–	5,144	–	0.04%	–
CMS	New	CMS ENERGY CORP COM	$393,000	–	6,795	–	0.03%	–
WMB	New	WILLIAMS COS INC DEL COM	$354,000	–	12,621	–	0.03%	–
AWK	New	AMERICAN WTR WKS CO INC NEW COM	$342,000	–	2,951	–	0.03%	–
LNG	New	CHENIERE ENERGY INC COM NEW	$296,000	–	4,330	–	0.03%	–
EQIX	New	EQUINIX INC COM	$297,000	–	588	–	0.03%	–
ADM	New	ARCHER DANIELS MIDLAND CO COM	$286,000	–	7,022	–	0.02%	–
EIX	New	EDISON INTL COM	$281,000	–	4,174	–	0.02%	–
CP	New	CANADIAN PAC RY LTD COM	$269,000	–	872	–	0.02%	–
ESS	New	ESSEX PPTY TR INC COM	$236,000	–	807	–	0.02%	–
INTC	New	INTEL CORP COM	$243,000	–	5,070	–	0.02%	–
PBA	New	PEMBINA PIPELINE CORP COM	$247,000	–	5,069	–	0.02%	–
AER	New	AERCAP HOLDINGS NV SHS	$234,000	–	4,500	–	0.02%	–
EVRG	New	EVERGY INC COM	$213,000	–	3,534	–	0.02%	–
AEP	New	AMERICAN ELEC PWR CO INC COM	$208,000	–	2,358	–	0.02%	–
COF	New	CAPITAL ONE FINL CORP COM	$206,000	–	2,270	–	0.02%	–
TRP	New	TC ENERGY CORP COM	$157,000	–	2,421	–	0.01%	–
C	New	CITIGROUP INC COM NEW	$151,000	–	2,160	–	0.01%	–
TSN	New	TYSON FOODS INC CL Acl a	$149,000	–	1,847	–	0.01%	–
SBAC	New	SBA COMMUNICATIONS CORP NEW CL Acl a	$116,000	–	517	–	0.01%	–
D	New	DOMINION ENERGY INC COM	$94,000	–	1,218	–	0.01%	–
LNT	New	ALLIANT ENERGY CORP COM	$86,000	–	1,753	–	0.01%	–
CUBI	New	CUSTOMERS BANCORP INC COM	$78,000	–	3,705	–	0.01%	–
AR	New	ANTERO RES CORP COM	$77,000	–	13,925	–	0.01%	–
TPC	New	TUTOR PERINI CORP COM	$64,000	–	4,640	–	0.01%	–
ENB	New	ENBRIDGE INC COM	$68,000	–	1,450	–	0.01%	–
UNP	New	UNION PACIFIC CORP COM	$64,000	–	378	–	0.01%	–
TECK	New	TECK RESOURCES LTD CL Bcl b	$53,000	–	1,762	–	0.01%	–
DUK	New	DUKE ENERGY CORP NEW COM NEW	$59,000	–	673	–	0.01%	–
ABBV	New	ABBVIE INC COM	$41,000	–	569	–	0.00%	–
TU	New	TELUS CORP COM	$45,000	–	929	–	0.00%	–
SU	New	SUNCOR ENERGY INC NEW COM	$46,000	–	1,114	–	0.00%	–
JNJ	New	JOHNSON & JOHNSON COM	$48,000	–	343	–	0.00%	–
PCG	New	PG&E CORP COM	$33,000	–	1,434	–	0.00%	–
BMY	New	BRISTOL MYERS SQUIBB CO COM	$35,000	–	771	–	0.00%	–
WY	New	WEYERHAEUSER CO COM	$40,000	–	1,505	–	0.00%	–
CMI	New	CUMMINS INC COM	$29,000	–	172	–	0.00%	–
IBM	New	INTERNATIONAL BUSINESS MACHS COM	$32,000	–	232	–	0.00%	–
HPE	New	HEWLETT PACKARD ENTERPRISE C COM	$32,000	–	2,144	–	0.00%	–
HAS	New	HASBRO INC COM	$33,000	–	308	–	0.00%	–
BAC	New	BANK AMER CORP COM	$39,000	–	1,351	–	0.00%	–
SRE	New	SEMPRA ENERGY COM	$38,000	–	276	–	0.00%	–
GM	New	GENERAL MTRS CO COM	$31,000	–	800	–	0.00%	–
MMM	New	3M CO COM	$25,000	–	146	–	0.00%	–
EXC	New	EXELON CORP COM	$27,000	–	563	–	0.00%	–

Q4 2018

			Value		Shares		↓ Weighting
TPC	Exit	TUTOR PERINI CORP COM	$0	–	-3,320	–	-0.01%	–
STNG	Exit	SCORPIO TANKERS INC SHS	$0	–	-30,040	–	-0.01%	–
AR	Exit	ANTERO RES CORP COM	$0	–	-6,650	–	-0.01%	–
C	Exit	CITIGROUP INC COM NEW	$0	–	-1,770	–	-0.01%	–
COF	Exit	CAPITAL ONE FINL CORP COM	$0	–	-1,900	–	-0.01%	–
RVI	Exit	RETAIL VALUE INC COM	$0	–	-8,327	–	-0.02%	–
CPLG	Exit	COREPOINT LODGING INC COM	$0	–	-19,391	–	-0.03%	–
EGP	Exit	EASTGROUP PPTY INC COM	$0	–	-8,900	–	-0.07%	–
STOR	Exit	STORE CAP CORP COM	$0	–	-31,400	–	-0.07%	–
LSI	Exit	LIFE STORAGE INC COM	$0	–	-9,600	–	-0.07%	–
PSB	Exit	PS BUSINESS PKS INC CALIF COM	$0	–	-7,505	–	-0.08%	–
GPT	Exit	GRAMERCY PPTY TR COM NEW	$0	–	-34,869	–	-0.08%	–
AMH	Exit	AMERICAN HOMES 4 RENT CL Acl a	$0	–	-48,678	–	-0.09%	–
EQC	Exit	EQUITY COMWLTH COM SH BEN INTsh ben int	$0	–	-33,990	–	-0.09%	–
PGRE	Exit	PARAMOUNT GROUP INC COM	$0	–	-74,354	–	-0.09%	–
BDN	Exit	BRANDYWINE RLTY TR SH BEN INT NEWsh ben int new	$0	–	-72,881	–	-0.09%	–
SKT	Exit	TANGER FACTORY OUTLET CTRS I COM	$0	–	-50,198	–	-0.09%	–
LXP	Exit	LEXINGTON REALTY TRUST COM	$0	–	-142,531	–	-0.10%	–
AHT	Exit	ASHFORD HOSPITALITY TR INC COM SHS	$0	–	-193,303	–	-0.10%	–
PDM	Exit	PIEDMONT OFFICE REALTY TR IN COM CL Acl a	$0	–	-65,925	–	-0.10%	–
CXP	Exit	COLUMBIA PPTY TR INC COM NEW	$0	–	-53,475	–	-0.10%	–
CLI	Exit	MACK CALI RLTY CORP COM	$0	–	-60,553	–	-0.10%	–
MPW	Exit	MEDICAL PPTYS TRUST INC COM	$0	–	-88,055	–	-0.10%	–
KRC	Exit	KILROY RLTY CORP COM	$0	–	-18,321	–	-0.10%	–
DEI	Exit	DOUGLAS EMMETT INC COM	$0	–	-37,037	–	-0.11%	–
SUI	Exit	SUN CMNTYS INC COM	$0	–	-14,107	–	-0.12%	–
HIW	Exit	HIGHWOODS PPTYS INC COM	$0	–	-31,617	–	-0.12%	–
ELS	Exit	EQUITY LIFESTYLE PPTYS INC COM	$0	–	-15,846	–	-0.12%	–
WRI	Exit	WEINGARTEN RLTY INVS SH BEN INTsh ben int	$0	–	-53,176	–	-0.13%	–
FCEA	Exit	FOREST CITY RLTY TR INC COM CL Acl a	$0	–	-63,599	–	-0.13%	–
ACC	Exit	AMERICAN CAMPUS CMNTYS INC COM	$0	–	-41,748	–	-0.14%	–
APLE	Exit	APPLE HOSPITALITY REIT INC COM NEW	$0	–	-99,832	–	-0.14%	–
RLJ	Exit	RLJ LODGING TR COM	$0	–	-80,215	–	-0.14%	–
CBLAQ	Exit	CBL & ASSOC PPTYS INC COM	$0	–	-466,029	–	-0.15%	–
CUZ	Exit	COUSINS PPTYS INC COM	$0	–	-213,100	–	-0.15%	–
EXR	Exit	EXTRA SPACE STORAGE INC COM	$0	–	-22,394	–	-0.16%	–
V	Exit	VISA INC COM CL Acl a	$0	–	-13,270	–	-0.16%	–
TCO	Exit	TAUBMAN CTRS INC COM	$0	–	-33,438	–	-0.16%	–
LPT	Exit	LIBERTY PPTY TR SH BEN INTsh ben int	$0	–	-47,784	–	-0.16%	–
FRT	Exit	FEDERAL REALTY INVT TR SH BEN INT NEWsh ben int new	$0	–	-16,023	–	-0.16%	–
STAY	Exit	EXTENDED STAY AMER INC UNIT 99/99/9999Bunit 99/99/9999b	$0	–	-102,329	–	-0.17%	–
WPC	Exit	W P CAREY INC COM	$0	–	-33,463	–	-0.17%	–
PPG	Exit	PPG INDS INC COM	$0	–	-20,176	–	-0.18%	–
DRE	Exit	DUKE REALTY CORP COM NEW	$0	–	-79,963	–	-0.18%	–
INTC	Exit	INTEL CORP COM	$0	–	-51,966	–	-0.20%	–
AIV	Exit	APARTMENT INVT & MGMT CO CL Acl a	$0	–	-56,570	–	-0.20%	–
SNH	Exit	SENIOR HSG PPTYS TR SH BEN INTsh ben int	$0	–	-147,623	–	-0.21%	–
WPG	Exit	WASHINGTON PRIME GROUP NEW COM	$0	–	-359,158	–	-0.21%	–
UDR	Exit	UDR INC COM	$0	–	-66,537	–	-0.22%	–
DFRG	Exit	DEL FRISCOS RESTAURANT GROUP COM	$0	–	-324,021	–	-0.22%	–
CPT	Exit	CAMDEN PPTY TR SH BEN INTsh ben int	$0	–	-29,445	–	-0.22%	–
OHI	Exit	OMEGA HEALTHCARE INVS INC COM	$0	–	-84,099	–	-0.22%	–
AMAT	Exit	APPLIED MATLS INC COM	$0	–	-72,787	–	-0.23%	–
KALU	Exit	KAISER ALUMINUM CORP COM PAR $0.01	$0	–	-26,884	–	-0.24%	–
BKNG	Exit	BOOKING HLDGS INC COM	$0	–	-1,479	–	-0.24%	–
WWW	Exit	WOLVERINE WORLD WIDE INC COM	$0	–	-76,300	–	-0.24%	–
SLG	Exit	SL GREEN RLTY CORP COM	$0	–	-30,739	–	-0.24%	–
SYY	Exit	SYSCO CORP COM	$0	–	-41,621	–	-0.24%	–
BRX	Exit	BRIXMOR PPTY GROUP INC COM	$0	–	-173,970	–	-0.24%	–
MMC	Exit	MARSH & MCLENNAN COS INC COM	$0	–	-37,551	–	-0.25%	–
ALLE	Exit	ALLEGION PUB LTD CO ORD SHS	$0	–	-34,200	–	-0.25%	–
BLK	Exit	BLACKROCK INC COM	$0	–	-6,985	–	-0.26%	–
CSCO	Exit	CISCO SYS INC COM	$0	–	-68,168	–	-0.27%	–
IQV	Exit	IQVIA HLDGS INC COM	$0	–	-25,697	–	-0.27%	–
DE	Exit	DEERE & CO COM	$0	–	-22,286	–	-0.27%	–
NKE	Exit	NIKE INC CL Bcl b	$0	–	-39,942	–	-0.27%	–
JPM	Exit	JPMORGAN CHASE & CO COM	$0	–	-30,357	–	-0.28%	–
EL	Exit	LAUDER ESTEE COS INC CL Acl a	$0	–	-24,143	–	-0.28%	–
KIM	Exit	KIMCO RLTY CORP COM	$0	–	-222,563	–	-0.30%	–
O	Exit	REALTY INCOME CORP COM	$0	–	-65,844	–	-0.30%	–
AEO	Exit	AMERICAN EAGLE OUTFITTERS NE COM	$0	–	-154,470	–	-0.31%	–
DK	Exit	DELEK US HLDGS INC NEW COM	$0	–	-90,415	–	-0.31%	–
MA	Exit	MASTERCARD INCORPORATED CL Acl a	$0	–	-17,262	–	-0.31%	–
INVH	Exit	INVITATION HOMES INC COM	$0	–	-173,700	–	-0.32%	–
SAFM	Exit	SANDERSON FARMS INC COM	$0	–	-38,700	–	-0.32%	–
VREX	Exit	VAREX IMAGING CORP COM	$0	–	-142,257	–	-0.33%	–
DRH	Exit	DIAMONDROCK HOSPITALITY CO COM	$0	–	-355,293	–	-0.33%	–
HOPE	Exit	HOPE BANCORP INC COM	$0	–	-256,536	–	-0.33%	–
MSFT	Exit	MICROSOFT CORP COM	$0	–	-37,179	–	-0.34%	–
CBT	Exit	CABOT CORP COM	$0	–	-69,345	–	-0.35%	–
GOOGL	Exit	ALPHABET INC CAP STK CL Acl a	$0	–	-3,647	–	-0.35%	–
MAC	Exit	MACERICH CO COM	$0	–	-82,178	–	-0.36%	–
TECD	Exit	TECH DATA CORP COM	$0	–	-66,405	–	-0.38%	–
HR	Exit	HEALTHCARE RLTY TR COM	$0	–	-168,352	–	-0.40%	–
ARGO	Exit	ARGO GROUP INTL HLDGS LTD COM	$0	–	-78,620	–	-0.40%	–
SHO	Exit	SUNSTONE HOTEL INVS INC NEW COM	$0	–	-312,700	–	-0.41%	–
AEL	Exit	AMERICAN EQTY INVT LIFE HLD COM	$0	–	-146,515	–	-0.42%	–
EPR	Exit	EPR PPTYS COM SH BEN INTsh ben int	$0	–	-77,911	–	-0.43%	–
JBL	Exit	JABIL INC COM	$0	–	-199,159	–	-0.43%	–
STRA	Exit	STRATEGIC ED INC COM	$0	–	-39,877	–	-0.44%	–
VNO	Exit	VORNADO RLTY TR SH BEN INTsh ben int	$0	–	-78,118	–	-0.46%	–
SLCA	Exit	U S SILICA HLDGS INC COM	$0	–	-307,403	–	-0.46%	–
TEN	Exit	TENNECO INC COM	$0	–	-138,012	–	-0.47%	–
TER	Exit	TERADYNE INC COM	$0	–	-160,952	–	-0.48%	–
BXP	Exit	BOSTON PROPERTIES INC COM	$0	–	-51,436	–	-0.51%	–
OFC	Exit	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$0	–	-214,130	–	-0.51%	–
HCP	Exit	HCP INC COM	$0	–	-249,392	–	-0.53%	–
MRC	Exit	MRC GLOBAL INC COM	$0	–	-352,795	–	-0.53%	–
VER	Exit	VEREIT INC COM	$0	–	-935,692	–	-0.55%	–
SNBR	Exit	SLEEP NUMBER CORP COM	$0	–	-185,948	–	-0.55%	–
REG	Exit	REGENCY CTRS CORP COM	$0	–	-111,837	–	-0.58%	–
ANF	Exit	ABERCROMBIE & FITCH CO CL Acl a	$0	–	-348,760	–	-0.59%	–
SYNA	Exit	SYNAPTICS INC COM	$0	–	-165,987	–	-0.61%	–
HST	Exit	HOST HOTELS & RESORTS INC COM	$0	–	-369,957	–	-0.63%	–
RNR	Exit	RENAISSANCERE HOLDINGS LTD COM	$0	–	-60,510	–	-0.65%	–
BPY	Exit	BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTNunit ltd partn	$0	–	-320,072	–	-0.69%	–
SAVE	Exit	SPIRIT AIRLS INC COM	$0	–	-192,188	–	-0.72%	–
ARE	Exit	ALEXANDRIA REAL ESTATE EQ IN COM	$0	–	-72,775	–	-0.74%	–
WELL	Exit	WELLTOWER INC COM	$0	–	-147,550	–	-0.76%	–
NNN	Exit	NATIONAL RETAIL PPTYS INC COM	$0	–	-215,291	–	-0.78%	–
FSLR	Exit	FIRST SOLAR INC COM	$0	–	-200,748	–	-0.78%	–
BPR	Exit	BROOKFIELD PROPERTY REIT INC CL Acl a	$0	–	-468,000	–	-0.79%	–
BC	Exit	BRUNSWICK CORP COM	$0	–	-154,677	–	-0.83%	–
ENS	Exit	ENERSYS COM	$0	–	-120,888	–	-0.85%	–
DLR	Exit	DIGITAL RLTY TR INC COM	$0	–	-97,155	–	-0.88%	–
HPP	Exit	HUDSON PAC PPTYS INC COM	$0	–	-343,037	–	-0.90%	–
HTA	Exit	HEALTHCARE TR AMER INC CL A NEWcl a new	$0	–	-423,208	–	-0.91%	–
PEG	Exit	PUBLIC SVC ENTERPRISE GROUP COM	$0	–	-221,816	–	-0.94%	–
TWO	Exit	TWO HBRS INVT CORP COM NEW	$0	–	-791,106	–	-0.95%	–
TRN	Exit	TRINITY INDS INC COM	$0	–	-322,418	–	-0.95%	–
EQR	Exit	EQUITY RESIDENTIAL SH BEN INTsh ben int	$0	–	-178,716	–	-0.95%	–
PHI	Exit	PLDT INC SPONSORED ADRsponsored adr	$0	–	-470,460	–	-0.97%	–
THR	Exit	THERMON GROUP HLDGS INC COM	$0	–	-479,233	–	-0.99%	–
CPA	Exit	COPA HOLDINGS SA CL Acl a	$0	–	-155,105	–	-1.00%	–
RWT	Exit	REDWOOD TR INC COM	$0	–	-767,534	–	-1.00%	–
MAA	Exit	MID AMER APT CMNTYS INC COM	$0	–	-125,742	–	-1.01%	–
ESS	Exit	ESSEX PPTY TR INC COM	$0	–	-53,004	–	-1.05%	–
LHCG	Exit	LHC GROUP INC COM	$0	–	-132,527	–	-1.10%	–
ESRT	Exit	EMPIRE ST RLTY TR INC CL Acl a	$0	–	-858,074	–	-1.14%	–
VTR	Exit	VENTAS INC COM	$0	–	-325,109	–	-1.42%	–
AVB	Exit	AVALONBAY CMNTYS INC COM	$0	–	-103,217	–	-1.50%	–
TRTN	Exit	TRITON INTL LTD CL Acl a	$0	–	-566,829	–	-1.51%	–
PSA	Exit	PUBLIC STORAGE COM	$0	–	-98,710	–	-1.60%	–
HBAN	Exit	HUNTINGTON BANCSHARES INC COM	$0	–	-1,354,350	–	-1.62%	–
IVZ	Exit	INVESCO LTD SHS	$0	–	-901,570	–	-1.66%	–
OMC	Exit	OMNICOM GROUP INC COM	$0	–	-305,960	–	-1.67%	–
PRU	Exit	PRUDENTIAL FINL INC COM	$0	–	-207,480	–	-1.69%	–
ARCC	Exit	ARES CAP CORP COM	$0	–	-1,228,895	–	-1.70%	–
VZ	Exit	VERIZON COMMUNICATIONS INC COM	$0	–	-398,925	–	-1.71%	–
PPL	Exit	PPL CORP COM	$0	–	-731,690	–	-1.72%	–
LB	Exit	L BRANDS INC COM	$0	–	-719,170	–	-1.75%	–
CAH	Exit	CARDINAL HEALTH INC COM	$0	–	-406,590	–	-1.76%	–
VIV	Exit	TELEFONICA BRASIL SA SPONSORED ADRsponsored adr	$0	–	-2,274,564	–	-1.78%	–
SKM	Exit	SK TELECOM LTD SPONSORED ADRsponsored adr	$0	–	-794,290	–	-1.78%	–
PEP	Exit	PEPSICO INC COM	$0	–	-207,264	–	-1.86%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADRsponsored adr	$0	–	-534,180	–	-1.89%	–
CUBE	Exit	CUBESMART COM	$0	–	-837,436	–	-1.92%	–
PLD	Exit	PROLOGIS INC COM	$0	–	-390,283	–	-2.12%	–
CM	Exit	CDN IMPERIAL BK COMM TORONTO COM	$0	–	-221,660	–	-2.15%	–
SLF	Exit	SUN LIFE FINL INC COM	$0	–	-527,406	–	-2.18%	–
XOM	Exit	EXXON MOBIL CORP COM	$0	–	-321,690	–	-2.20%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N SHS - A -	$0	–	-268,065	–	-2.21%	–
LXFR	Exit	LUXFER HOLDINGS PLC SHS	$0	–	-723,271	–	-2.26%	–
GILD	Exit	GILEAD SCIENCES INC COM	$0	–	-369,990	–	-2.29%	–
RPAI	Exit	RETAIL PPTYS AMER INC CL Acl a	$0	–	-2,507,637	–	-2.46%	–
SPG	Exit	SIMON PPTY GROUP INC NEW COM	$0	–	-256,323	–	-3.64%	–

Q3 2018

			Value		Shares		↓ Weighting
SPG	Sell	SIMON PPTY GROUP INC NEW COM	$45,305,000	-23.2%	256,323	-26.0%	3.64%	-17.4%
RPAI	Buy	RETAIL PPTYS AMER INC CL Acl a	$30,568,000	+23.4%	2,507,637	+29.4%	2.46%	+32.7%
GILD	Buy	GILEAD SCIENCES INC COM	$28,567,000	+24.7%	369,990	+14.4%	2.29%	+34.2%
LXFR	Buy	LUXFER HOLDINGS PLC SHS	$28,084,000	+144.9%	723,271	+10.2%	2.26%	+163.4%
LYB	Buy	LYONDELLBASELL INDUSTRIES N SHS - A -	$27,479,000	-1.5%	268,065	+5.6%	2.21%	+6.0%
XOM	Buy	EXXON MOBIL CORP COM	$27,350,000	+17.9%	321,690	+14.7%	2.20%	+26.7%
SLF	Sell	SUN LIFE FINL INC COM	$27,082,000	-7.0%	527,406	-4.4%	2.18%	-0.0%
CM	Sell	CDN IMPERIAL BK COMM TORONTO COM	$26,827,000	-10.0%	221,660	-14.9%	2.15%	-3.2%
PLD	Buy	PROLOGIS INC COM	$26,458,000	+8.2%	390,283	+4.8%	2.12%	+16.4%
CUBE	Sell	CUBESMART COM	$23,891,000	-13.9%	837,436	-2.8%	1.92%	-7.4%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADRsponsored adr	$23,590,000	-3.2%	534,180	-19.9%	1.89%	+4.1%
PEP	Sell	PEPSICO INC COM	$23,172,000	-9.3%	207,264	-11.7%	1.86%	-2.5%
SKM	Sell	SK TELECOM LTD SPONSORED ADRsponsored adr	$22,144,000	-22.1%	794,290	-34.9%	1.78%	-16.3%
VIV	Buy	TELEFONICA BRASIL SA SPONSORED ADRsponsored adr	$22,132,000	+3.0%	2,274,564	+25.6%	1.78%	+10.7%
CAH	Sell	CARDINAL HEALTH INC COM	$21,957,000	+6.7%	406,590	-3.5%	1.76%	+14.8%
LB	Buy	L BRANDS INC COM	$21,791,000	-3.9%	719,170	+16.9%	1.75%	+3.3%
PPL	Sell	PPL CORP COM	$21,410,000	-8.3%	731,690	-10.5%	1.72%	-1.4%
VZ	Sell	VERIZON COMMUNICATIONS INC COM	$21,298,000	-31.1%	398,925	-35.1%	1.71%	-26.0%
ARCC	Sell	ARES CAP CORP COM	$21,125,000	-4.1%	1,228,895	-8.2%	1.70%	+3.2%
PRU	Sell	PRUDENTIAL FINL INC COM	$21,022,000	-8.2%	207,480	-15.3%	1.69%	-1.3%
OMC	Buy	OMNICOM GROUP INC COM	$20,811,000	-7.7%	305,960	+3.5%	1.67%	-0.7%
IVZ	Buy	INVESCO LTD SHS	$20,628,000	-6.7%	901,570	+8.3%	1.66%	+0.4%
HBAN	New	HUNTINGTON BANCSHARES INC COM	$20,207,000	–	1,354,350	–	1.62%	–
PSA	Sell	PUBLIC STORAGE COM	$19,904,000	-13.7%	98,710	-2.9%	1.60%	-7.3%
TRTN	Sell	TRITON INTL LTD CL Acl a	$18,859,000	-6.4%	566,829	-13.7%	1.51%	+0.7%
AVB	Sell	AVALONBAY CMNTYS INC COM	$18,698,000	+2.8%	103,217	-2.5%	1.50%	+10.6%
VTR	Buy	VENTAS INC COM	$17,679,000	+39.6%	325,109	+46.2%	1.42%	+50.3%
ESRT	Buy	EMPIRE ST RLTY TR INC CL Acl a	$14,253,000	+7.5%	858,074	+10.7%	1.14%	+15.7%
LHCG	Sell	LHC GROUP INC COM	$13,648,000	+5.9%	132,527	-12.0%	1.10%	+13.8%
ESS	Sell	ESSEX PPTY TR INC COM	$13,077,000	+1.3%	53,004	-1.9%	1.05%	+8.9%
MAA	Buy	MID AMER APT CMNTYS INC COM	$12,597,000	+2.6%	125,742	+3.1%	1.01%	+10.4%
RWT	Buy	REDWOOD TR INC COM	$12,465,000	-0.4%	767,534	+1.0%	1.00%	+7.1%
CPA	New	COPA HOLDINGS SA CL Acl a	$12,384,000	–	155,105	–	1.00%	–
THR	Sell	THERMON GROUP HLDGS INC COM	$12,355,000	+9.3%	479,233	-3.0%	0.99%	+17.5%
PHI	Sell	PLDT INC SPONSORED ADRsponsored adr	$12,091,000	-2.4%	470,460	-11.2%	0.97%	+5.0%
EQR	Sell	EQUITY RESIDENTIAL SH BEN INTsh ben int	$11,841,000	-10.2%	178,716	-13.7%	0.95%	-3.5%
TRN	Sell	TRINITY INDS INC COM	$11,813,000	+3.7%	322,418	-3.0%	0.95%	+11.6%
TWO	Sell	TWO HBRS INVT CORP COM NEW	$11,811,000	-46.4%	791,106	-43.3%	0.95%	-42.4%
PEG	Sell	PUBLIC SVC ENTERPRISE GROUP COM	$11,710,000	-9.4%	221,816	-7.1%	0.94%	-2.7%
HTA	Sell	HEALTHCARE TR AMER INC CL A NEWcl a new	$11,288,000	-7.4%	423,208	-6.4%	0.91%	-0.4%
HPP	Buy	HUDSON PAC PPTYS INC COM	$11,224,000	+199.1%	343,037	+223.8%	0.90%	+221.8%
DLR	Sell	DIGITAL RLTY TR INC COM	$10,928,000	-1.2%	97,155	-2.0%	0.88%	+6.3%
ENS	Buy	ENERSYS COM	$10,533,000	+21.9%	120,888	+4.5%	0.85%	+31.2%
BC	Sell	BRUNSWICK CORP COM	$10,366,000	-2.8%	154,677	-6.5%	0.83%	+4.4%
BPR	New	BROOKFIELD PROPERTY REIT INC CL Acl a	$9,795,000	–	468,000	–	0.79%	–
FSLR	Buy	FIRST SOLAR INC COM	$9,720,000	+5.8%	200,748	+15.1%	0.78%	+13.8%
NNN	Buy	NATIONAL RETAIL PPTYS INC COM	$9,650,000	+13.7%	215,291	+11.6%	0.78%	+22.2%
WELL	Sell	WELLTOWER INC COM	$9,490,000	-30.0%	147,550	-31.8%	0.76%	-24.8%
ARE	Buy	ALEXANDRIA REAL ESTATE EQ IN COM	$9,156,000	+310.6%	72,775	+311.7%	0.74%	+340.1%
SAVE	Sell	SPIRIT AIRLS INC COM	$9,027,000	-1.8%	192,188	-24.0%	0.72%	+5.7%
BPY	Sell	BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTNunit ltd partn	$8,645,000	-29.7%	320,072	-35.0%	0.69%	-24.4%
HST	Sell	HOST HOTELS & RESORTS INC COM	$7,806,000	-26.4%	369,957	-26.5%	0.63%	-20.8%
SYNA	Sell	SYNAPTICS INC COM	$7,572,000	-9.7%	165,987	-0.3%	0.61%	-2.9%
ANF	Buy	ABERCROMBIE & FITCH CO CL Acl a	$7,366,000	+44.8%	348,760	+67.9%	0.59%	+55.8%
REG	Sell	REGENCY CTRS CORP COM	$7,232,000	-46.1%	111,837	-48.3%	0.58%	-42.0%
SNBR	Sell	SLEEP NUMBER CORP COM	$6,839,000	+10.9%	185,948	-12.5%	0.55%	+19.3%
VER	Sell	VEREIT INC COM	$6,794,000	-38.9%	935,692	-37.3%	0.55%	-34.2%
MRC	Buy	MRC GLOBAL INC COM	$6,622,000	-6.0%	352,795	+8.5%	0.53%	+1.1%
HCP	Sell	HCP INC COM	$6,564,000	-38.5%	249,392	-39.7%	0.53%	-33.9%
OFC	Sell	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$6,388,000	-29.7%	214,130	-31.7%	0.51%	-24.4%
BXP	Sell	BOSTON PROPERTIES INC COM	$6,332,000	-57.2%	51,436	-56.4%	0.51%	-54.0%
TER	Sell	TERADYNE INC COM	$5,952,000	-8.5%	160,952	-5.8%	0.48%	-1.6%
TEN	Buy	TENNECO INC COM	$5,816,000	+10.4%	138,012	+15.2%	0.47%	+18.8%
SLCA	Buy	U S SILICA HLDGS INC COM	$5,788,000	-2.5%	307,403	+33.1%	0.46%	+5.0%
VNO	Sell	VORNADO RLTY TR SH BEN INTsh ben int	$5,702,000	-13.7%	78,118	-12.6%	0.46%	-7.3%
STRA	New	STRATEGIC ED INC COM	$5,464,000	–	39,877	–	0.44%	–
JBL	Sell	JABIL INC COM	$5,393,000	-8.2%	199,159	-6.3%	0.43%	-1.4%
EPR	Buy	EPR PPTYS COM SH BEN INTsh ben int	$5,330,000	+201.1%	77,911	+185.3%	0.43%	+224.2%
AEL	Sell	AMERICAN EQTY INVT LIFE HLD COM	$5,181,000	-7.0%	146,515	-5.3%	0.42%	0.0%
SHO	Buy	SUNSTONE HOTEL INVS INC NEW COM	$5,116,000	+251.4%	312,700	+257.0%	0.41%	+277.1%
ARGO	Buy	ARGO GROUP INTL HLDGS LTD COM	$4,957,000	+19.0%	78,620	+9.8%	0.40%	+28.0%
HR	Sell	HEALTHCARE RLTY TR COM	$4,925,000	-56.7%	168,352	-57.0%	0.40%	-53.4%
TECD	Buy	TECH DATA CORP COM	$4,753,000	+9.0%	66,405	+25.1%	0.38%	+17.2%
MAC	Buy	MACERICH CO COM	$4,543,000	-2.5%	82,178	+0.2%	0.36%	+4.9%
GOOGL	New	ALPHABET INC CAP STK CL Acl a	$4,402,000	–	3,647	–	0.35%	–
CBT	Buy	CABOT CORP COM	$4,349,000	+50.0%	69,345	+47.8%	0.35%	+61.6%
MSFT	Sell	MICROSOFT CORP COM	$4,252,000	-3.3%	37,179	-16.6%	0.34%	+4.0%
DRH	Buy	DIAMONDROCK HOSPITALITY CO COM	$4,146,000	-1.1%	355,293	+4.1%	0.33%	+6.4%
SAFM	Buy	SANDERSON FARMS INC COM	$4,000,000	+4.2%	38,700	+6.0%	0.32%	+11.8%
INVH	Buy	INVITATION HOMES INC COM	$3,979,000	+103.7%	173,700	+105.1%	0.32%	+119.2%
MA	Sell	MASTERCARD INCORPORATED CL Acl a	$3,843,000	-4.9%	17,262	-16.1%	0.31%	+2.3%
AEO	Buy	AMERICAN EAGLE OUTFITTERS NE COM	$3,835,000	+18.3%	154,470	+10.7%	0.31%	+27.3%
DK	Buy	DELEK US HLDGS INC NEW COM	$3,836,000	+35.0%	90,415	+59.7%	0.31%	+45.3%
O	Sell	REALTY INCOME CORP COM	$3,746,000	-7.2%	65,844	-12.3%	0.30%	0.0%
KIM	Sell	KIMCO RLTY CORP COM	$3,725,000	-15.5%	222,563	-14.3%	0.30%	-9.1%
EL	Sell	LAUDER ESTEE COS INC CL Acl a	$3,508,000	-15.5%	24,143	-17.1%	0.28%	-9.0%
JPM	Sell	JPMORGAN CHASE & CO COM	$3,426,000	-7.6%	30,357	-14.7%	0.28%	-0.7%
NKE	Sell	NIKE INC CL Bcl b	$3,384,000	-24.1%	39,942	-28.6%	0.27%	-18.3%
DE	Sell	DEERE & CO COM	$3,350,000	-7.9%	22,286	-14.3%	0.27%	-1.1%
IQV	Sell	IQVIA HLDGS INC COM	$3,334,000	+11.4%	25,697	-14.3%	0.27%	+19.6%
CSCO	Sell	CISCO SYS INC COM	$3,316,000	-86.9%	68,168	-88.4%	0.27%	-85.9%
BLK	Buy	BLACKROCK INC COM	$3,292,000	-0.8%	6,985	+5.1%	0.26%	+6.5%
MMC	Sell	MARSH & MCLENNAN COS INC COM	$3,106,000	-13.5%	37,551	-14.3%	0.25%	-7.1%
ALLE	Sell	ALLEGION PUB LTD CO ORD SHS	$3,097,000	+5.9%	34,200	-9.5%	0.25%	+14.2%
SYY	Sell	SYSCO CORP COM	$3,048,000	-7.9%	41,621	-14.1%	0.24%	-0.8%
BRX	Sell	BRIXMOR PPTY GROUP INC COM	$3,046,000	-12.2%	173,970	-12.7%	0.24%	-5.4%
SLG	Sell	SL GREEN RLTY CORP COM	$2,998,000	-17.0%	30,739	-14.5%	0.24%	-10.7%
BKNG	Sell	BOOKING HLDGS INC COM	$2,935,000	-18.0%	1,479	-16.2%	0.24%	-11.6%
AMAT	Sell	APPLIED MATLS INC COM	$2,814,000	-21.3%	72,787	-6.0%	0.23%	-15.4%
OHI	Sell	OMEGA HEALTHCARE INVS INC COM	$2,756,000	-4.8%	84,099	-10.0%	0.22%	+2.3%
CPT	Sell	CAMDEN PPTY TR SH BEN INTsh ben int	$2,755,000	-10.7%	29,445	-13.0%	0.22%	-3.9%
DFRG	Sell	DEL FRISCOS RESTAURANT GROUP COM	$2,689,000	-50.8%	324,021	-25.3%	0.22%	-47.1%
UDR	Sell	UDR INC COM	$2,690,000	-6.1%	66,537	-12.8%	0.22%	+0.9%
WPG	Sell	WASHINGTON PRIME GROUP NEW COM	$2,623,000	-22.4%	359,158	-13.8%	0.21%	-16.3%
SNH	Sell	SENIOR HSG PPTYS TR SH BEN INTsh ben int	$2,592,000	-14.5%	147,623	-11.9%	0.21%	-8.0%
AIV	Sell	APARTMENT INVT & MGMT CO CL Acl a	$2,496,000	-10.2%	56,570	-14.0%	0.20%	-3.8%
INTC	Sell	INTEL CORP COM	$2,457,000	-12.1%	51,966	-7.6%	0.20%	-5.7%
DRE	Sell	DUKE REALTY CORP COM NEW	$2,268,000	-15.3%	79,963	-13.3%	0.18%	-9.0%
PPG	Sell	PPG INDS INC COM	$2,202,000	-21.5%	20,176	-25.4%	0.18%	-15.3%
WPC	Sell	W P CAREY INC COM	$2,152,000	-16.8%	33,463	-14.1%	0.17%	-10.4%
STAY	Sell	EXTENDED STAY AMER INC UNIT 99/99/9999Bunit 99/99/9999b	$2,070,000	-18.7%	102,329	-13.1%	0.17%	-12.6%
FRT	Sell	FEDERAL REALTY INVT TR SH BEN INT NEWsh ben int new	$2,026,000	-43.5%	16,023	-43.4%	0.16%	-39.2%
LPT	Sell	LIBERTY PPTY TR SH BEN INTsh ben int	$2,019,000	-17.2%	47,784	-13.1%	0.16%	-11.0%
TCO	Sell	TAUBMAN CTRS INC COM	$2,001,000	-11.7%	33,438	-13.2%	0.16%	-4.7%
V	Sell	VISA INC COM CL Acl a	$1,992,000	-10.9%	13,270	-21.4%	0.16%	-4.2%
EXR	Sell	EXTRA SPACE STORAGE INC COM	$1,941,000	-24.3%	22,394	-12.8%	0.16%	-18.8%
CUZ	New	COUSINS PPTYS INC COM	$1,895,000	–	213,100	–	0.15%	–
CBLAQ	Sell	CBL & ASSOC PPTYS INC COM	$1,859,000	-38.8%	466,029	-14.6%	0.15%	-34.4%
RLJ	Sell	RLJ LODGING TR COM	$1,767,000	-10.8%	80,215	-10.7%	0.14%	-4.1%
APLE	Sell	APPLE HOSPITALITY REIT INC COM NEW	$1,746,000	-12.4%	99,832	-10.5%	0.14%	-6.0%
ACC	Sell	AMERICAN CAMPUS CMNTYS INC COM	$1,718,000	-16.6%	41,748	-13.1%	0.14%	-10.4%
FCEA	Sell	FOREST CITY RLTY TR INC COM CL Acl a	$1,596,000	-1.5%	63,599	-10.4%	0.13%	+5.8%
WRI	Sell	WEINGARTEN RLTY INVS SH BEN INTsh ben int	$1,582,000	-17.7%	53,176	-14.7%	0.13%	-11.8%
ELS	Sell	EQUITY LIFESTYLE PPTYS INC COM	$1,528,000	-9.4%	15,846	-13.6%	0.12%	-2.4%
HIW	Sell	HIGHWOODS PPTYS INC COM	$1,494,000	-20.9%	31,617	-15.0%	0.12%	-14.9%
SUI	Sell	SUN CMNTYS INC COM	$1,432,000	-60.9%	14,107	-62.3%	0.12%	-57.9%
DEI	Sell	DOUGLAS EMMETT INC COM	$1,398,000	-19.9%	37,037	-14.7%	0.11%	-13.8%
MPW	Sell	MEDICAL PPTYS TRUST INC COM	$1,313,000	-7.5%	88,055	-12.9%	0.10%	-0.9%
KRC	Sell	KILROY RLTY CORP COM	$1,313,000	-18.2%	18,321	-13.7%	0.10%	-12.5%
CLI	Sell	MACK CALI RLTY CORP COM	$1,288,000	-8.6%	60,553	-12.8%	0.10%	-1.9%
CXP	Sell	COLUMBIA PPTY TR INC COM NEW	$1,264,000	-11.2%	53,475	-14.7%	0.10%	-3.8%
PDM	Sell	PIEDMONT OFFICE REALTY TR IN COM CL Acl a	$1,248,000	-20.5%	65,925	-16.3%	0.10%	-14.5%
AHT	Sell	ASHFORD HOSPITALITY TR INC COM SHS	$1,236,000	-32.0%	193,303	-13.9%	0.10%	-27.2%
LXP	Sell	LEXINGTON REALTY TRUST COM	$1,184,000	-17.8%	142,531	-13.6%	0.10%	-12.0%
SKT	Sell	TANGER FACTORY OUTLET CTRS I COM	$1,148,000	-14.4%	50,198	-12.1%	0.09%	-8.0%
BDN	Sell	BRANDYWINE RLTY TR SH BEN INT NEWsh ben int new	$1,146,000	-19.1%	72,881	-13.1%	0.09%	-13.2%
PGRE	Sell	PARAMOUNT GROUP INC COM	$1,123,000	-16.3%	74,354	-14.7%	0.09%	-10.0%
EQC	Sell	EQUITY COMWLTH COM SH BEN INTsh ben int	$1,091,000	-10.9%	33,990	-12.6%	0.09%	-3.3%
AMH	Sell	AMERICAN HOMES 4 RENT CL Acl a	$1,066,000	-13.0%	48,678	-11.9%	0.09%	-5.5%
PSB	Sell	PS BUSINESS PKS INC CALIF COM	$954,000	-36.6%	7,505	-35.9%	0.08%	-31.2%
GPT	Sell	GRAMERCY PPTY TR COM NEW	$957,000	-11.5%	34,869	-11.9%	0.08%	-4.9%
LSI	Sell	LIFE STORAGE INC COM	$914,000	-14.6%	9,600	-12.7%	0.07%	-8.8%
STOR	Sell	STORE CAP CORP COM	$873,000	-12.0%	31,400	-13.3%	0.07%	-5.4%
EGP	New	EASTGROUP PPTY INC COM	$851,000	–	8,900	–	0.07%	–
CPLG	Sell	COREPOINT LODGING INC COM	$377,000	-35.9%	19,391	-14.5%	0.03%	-31.8%
RVI	New	RETAIL VALUE INC COM	$271,000	–	8,327	–	0.02%	–
COF	New	CAPITAL ONE FINL CORP COM	$180,000	–	1,900	–	0.01%	–
C	New	CITIGROUP INC COM NEW	$127,000	–	1,770	–	0.01%	–
AR	New	ANTERO RES CORP COM	$118,000	–	6,650	–	0.01%	–
TPC	New	TUTOR PERINI CORP COM	$62,000	–	3,320	–	0.01%	–
STNG	New	SCORPIO TANKERS INC SHS	$60,000	–	30,040	–	0.01%	–
PEI	Exit	PENNSYLVANIA RL ESTATE INVT SH BEN INTsh ben int	$0	–	-68,700	–	-0.06%	–
VR	Exit	VALIDUS HOLDINGS LTD COM SHS	$0	–	-24,600	–	-0.12%	–
PG	Exit	PROCTER AND GAMBLE CO COM	$0	–	-24,651	–	-0.14%	–
DCT	Exit	DCT INDUSTRIAL TRUST INC COM NEW	$0	–	-37,996	–	-0.19%	–
DDR	Exit	DDR CORP COM	$0	–	-173,279	–	-0.23%	–
UBNT	Exit	UBIQUITI NETWORKS INC COM	$0	–	-53,468	–	-0.34%	–
CPLA	Exit	CAPELLA EDUCATION COMPANY COM	$0	–	-50,240	–	-0.37%	–
GOOG	Exit	ALPHABET INC CAP STK CL Ccap stk cl c	$0	–	-4,477	–	-0.37%	–
GGP	Exit	GGP INC COM	$0	–	-329,912	–	-0.50%	–
NYCB	Exit	NEW YORK CMNTY BANCORP INC COM	$0	–	-1,088,982	–	-0.90%	–
MRK	Exit	MERCK & CO INC COM	$0	–	-366,100	–	-1.66%	–

Q2 2018

			Value		Shares		↓ Weighting
SPG	New	SIMON PPTY GROUP INC NEW COM	$58,976,000	–	346,523	–	4.40%	–
VZ	New	VERIZON COMMUNICATIONS INC COM	$30,931,000	–	614,805	–	2.31%	–
CM	New	CDN IMPERIAL BK COMM TORONTO COM	$29,796,000	–	260,550	–	2.22%	–
SLF	New	SUN LIFE FINL INC COM	$29,136,000	–	551,506	–	2.18%	–
SKM	New	SK TELECOM LTD SPONSORED ADRsponsored adr	$28,443,000	–	1,219,700	–	2.12%	–
LYB	New	LYONDELLBASELL INDUSTRIES N SHS - A -	$27,890,000	–	253,895	–	2.08%	–
CUBE	New	CUBESMART COM	$27,755,000	–	861,436	–	2.07%	–
PEP	New	PEPSICO INC COM	$25,550,000	–	234,687	–	1.91%	–
CSCO	New	CISCO SYS INC COM	$25,265,000	–	587,167	–	1.89%	–
RPAI	New	RETAIL PPTYS AMER INC CL Acl a	$24,775,000	–	1,938,537	–	1.85%	–
PLD	New	PROLOGIS INC COM	$24,455,000	–	372,283	–	1.83%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADRsponsored adr	$24,369,000	–	666,552	–	1.82%	–
PPL	New	PPL CORP COM	$23,343,000	–	817,650	–	1.74%	–
XOM	New	EXXON MOBIL CORP COM	$23,202,000	–	280,450	–	1.73%	–
PSA	New	PUBLIC STORAGE COM	$23,073,000	–	101,710	–	1.72%	–
GILD	New	GILEAD SCIENCES INC COM	$22,902,000	–	323,300	–	1.71%	–
PRU	New	PRUDENTIAL FINL INC COM	$22,904,000	–	244,942	–	1.71%	–
LB	New	L BRANDS INC COM	$22,685,000	–	615,100	–	1.69%	–
OMC	New	OMNICOM GROUP INC COM	$22,542,000	–	295,550	–	1.68%	–
MRK	New	MERCK & CO INC COM	$22,222,000	–	366,100	–	1.66%	–
IVZ	New	INVESCO LTD SHS	$22,113,000	–	832,600	–	1.65%	–
TWO	New	TWO HBRS INVT CORP COM NEW	$22,036,000	–	1,394,706	–	1.64%	–
ARCC	New	ARES CAP CORP COM	$22,020,000	–	1,338,575	–	1.64%	–
VIV	New	TELEFONICA BRASIL SA SPONSORED ADRsponsored adr	$21,497,000	–	1,811,024	–	1.60%	–
CAH	New	CARDINAL HEALTH INC COM	$20,573,000	–	421,300	–	1.54%	–
TRTN	New	TRITON INTL LTD CL Acl a	$20,141,000	–	656,939	–	1.50%	–
AVB	New	AVALONBAY CMNTYS INC COM	$18,188,000	–	105,817	–	1.36%	–
BXP	New	BOSTON PROPERTIES INC COM	$14,783,000	–	117,868	–	1.10%	–
WELL	New	WELLTOWER INC COM	$13,565,000	–	216,372	–	1.01%	–
REG	New	REGENCY CTRS CORP COM	$13,424,000	–	216,237	–	1.00%	–
ESRT	New	EMPIRE ST RLTY TR INC CL Acl a	$13,258,000	–	775,374	–	0.99%	–
EQR	New	EQUITY RESIDENTIAL SH BEN INTsh ben int	$13,185,000	–	207,016	–	0.98%	–
PEG	New	PUBLIC SVC ENTERPRISE GROUP COM	$12,930,000	–	238,826	–	0.97%	–
ESS	New	ESSEX PPTY TR INC COM	$12,911,000	–	54,004	–	0.96%	–
LHCG	New	LHC GROUP INC COM	$12,891,000	–	150,613	–	0.96%	–
VTR	New	VENTAS INC COM	$12,660,000	–	222,309	–	0.94%	–
RWT	New	REDWOOD TR INC COM	$12,521,000	–	760,234	–	0.94%	–
PHI	New	PLDT INC SPONSORED ADRsponsored adr	$12,393,000	–	530,070	–	0.92%	–
BPY	New	BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTNunit ltd partn	$12,298,000	–	492,523	–	0.92%	–
MAA	New	MID AMER APT CMNTYS INC COM	$12,276,000	–	121,942	–	0.92%	–
HTA	New	HEALTHCARE TR AMER INC CL A NEWcl a new	$12,184,000	–	451,908	–	0.91%	–
NYCB	New	NEW YORK CMNTY BANCORP INC COM	$12,022,000	–	1,088,982	–	0.90%	–
LXFR	New	LUXFER HOLDINGS PLC SHS	$11,467,000	–	656,035	–	0.86%	–
HR	New	HEALTHCARE RLTY TR COM	$11,381,000	–	391,348	–	0.85%	–
TRN	New	TRINITY INDS INC COM	$11,389,000	–	332,418	–	0.85%	–
THR	New	THERMON GROUP HLDGS INC COM	$11,303,000	–	494,233	–	0.84%	–
VER	New	VEREIT INC COM	$11,112,000	–	1,493,492	–	0.83%	–
DLR	New	DIGITAL RLTY TR INC COM	$11,064,000	–	99,155	–	0.83%	–
HCP	New	HCP INC COM	$10,676,000	–	413,487	–	0.80%	–
BC	New	BRUNSWICK CORP COM	$10,667,000	–	165,424	–	0.80%	–
HST	New	HOST HOTELS & RESORTS INC COM	$10,602,000	–	503,157	–	0.79%	–
FSLR	New	FIRST SOLAR INC COM	$9,185,000	–	174,420	–	0.69%	–
SAVE	New	SPIRIT AIRLS INC COM	$9,189,000	–	252,781	–	0.69%	–
OFC	New	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$9,091,000	–	313,530	–	0.68%	–
ENS	New	ENERSYS COM	$8,638,000	–	115,727	–	0.64%	–
NNN	New	NATIONAL RETAIL PPTYS INC COM	$8,485,000	–	192,991	–	0.63%	–
SYNA	New	SYNAPTICS INC COM	$8,382,000	–	166,417	–	0.63%	–
RNR	New	RENAISSANCERE HOLDINGS LTD COM	$7,281,000	–	60,510	–	0.54%	–
MRC	New	MRC GLOBAL INC COM	$7,047,000	–	325,203	–	0.53%	–
GGP	New	GGP INC COM	$6,739,000	–	329,912	–	0.50%	–
VNO	New	VORNADO RLTY TR SH BEN INTsh ben int	$6,610,000	–	89,418	–	0.49%	–
TER	New	TERADYNE INC COM	$6,505,000	–	170,861	–	0.49%	–
SNBR	New	SLEEP NUMBER CORP COM	$6,165,000	–	212,448	–	0.46%	–
SLCA	New	U S SILICA HLDGS INC COM	$5,934,000	–	230,983	–	0.44%	–
JBL	New	JABIL INC COM	$5,876,000	–	212,451	–	0.44%	–
AEL	New	AMERICAN EQTY INVT LIFE HLD COM	$5,570,000	–	154,736	–	0.42%	–
DFRG	New	DEL FRISCOS RESTAURANT GROUP COM	$5,467,000	–	433,896	–	0.41%	–
VREX	New	VAREX IMAGING CORP COM	$5,276,000	–	142,257	–	0.39%	–
TEN	New	TENNECO INC COM	$5,266,000	–	119,787	–	0.39%	–
ANF	New	ABERCROMBIE & FITCH CO CL Acl a	$5,086,000	–	207,760	–	0.38%	–
GOOG	New	ALPHABET INC CAP STK CL Ccap stk cl c	$4,995,000	–	4,477	–	0.37%	–
CPLA	New	CAPELLA EDUCATION COMPANY COM	$4,959,000	–	50,240	–	0.37%	–
MAC	New	MACERICH CO COM	$4,659,000	–	81,978	–	0.35%	–
HOPE	New	HOPE BANCORP INC COM	$4,574,000	–	256,536	–	0.34%	–
UBNT	New	UBIQUITI NETWORKS INC COM	$4,530,000	–	53,468	–	0.34%	–
NKE	New	NIKE INC CL Bcl b	$4,459,000	–	55,963	–	0.33%	–
KIM	New	KIMCO RLTY CORP COM	$4,410,000	–	259,563	–	0.33%	–
MSFT	New	MICROSOFT CORP COM	$4,396,000	–	44,580	–	0.33%	–
TECD	New	TECH DATA CORP COM	$4,360,000	–	53,091	–	0.33%	–
DRH	New	DIAMONDROCK HOSPITALITY CO COM	$4,191,000	–	341,293	–	0.31%	–
ARGO	New	ARGO GROUP INTL HLDGS LTD COM	$4,165,000	–	71,620	–	0.31%	–
EL	New	LAUDER ESTEE COS INC CL Acl a	$4,153,000	–	29,108	–	0.31%	–
MA	New	MASTERCARD INCORPORATED CL Acl a	$4,041,000	–	20,564	–	0.30%	–
O	New	REALTY INCOME CORP COM	$4,037,000	–	75,044	–	0.30%	–
SAFM	New	SANDERSON FARMS INC COM	$3,838,000	–	36,500	–	0.29%	–
HPP	New	HUDSON PAC PPTYS INC COM	$3,753,000	–	105,937	–	0.28%	–
JPM	New	JPMORGAN CHASE & CO COM	$3,707,000	–	35,574	–	0.28%	–
SUI	New	SUN CMNTYS INC COM	$3,661,000	–	37,407	–	0.27%	–
DE	New	DEERE & CO COM	$3,636,000	–	26,009	–	0.27%	–
SLG	New	SL GREEN RLTY CORP COM	$3,613,000	–	35,939	–	0.27%	–
MMC	New	MARSH & MCLENNAN COS INC COM	$3,590,000	–	43,792	–	0.27%	–
FRT	New	FEDERAL REALTY INVT TR SH BEN INT NEWsh ben int new	$3,586,000	–	28,323	–	0.27%	–
AMAT	New	APPLIED MATLS INC COM	$3,577,000	–	77,448	–	0.27%	–
BKNG	New	BOOKING HLDGS INC COM	$3,578,000	–	1,765	–	0.27%	–
BRX	New	BRIXMOR PPTY GROUP INC COM	$3,471,000	–	199,170	–	0.26%	–
WPG	New	WASHINGTON PRIME GROUP NEW COM	$3,379,000	–	416,658	–	0.25%	–
BLK	New	BLACKROCK INC COM	$3,318,000	–	6,648	–	0.25%	–
SYY	New	SYSCO CORP COM	$3,311,000	–	48,478	–	0.25%	–
AEO	New	AMERICAN EAGLE OUTFITTERS NE COM	$3,243,000	–	139,482	–	0.24%	–
DDR	New	DDR CORP COM	$3,102,000	–	173,279	–	0.23%	–
CPT	New	CAMDEN PPTY TR SH BEN INTsh ben int	$3,084,000	–	33,845	–	0.23%	–
CBLAQ	New	CBL & ASSOC PPTYS INC COM	$3,038,000	–	545,429	–	0.23%	–
SNH	New	SENIOR HSG PPTYS TR SH BEN INTsh ben int	$3,030,000	–	167,523	–	0.23%	–
IQV	New	IQVIA HLDGS INC COM	$2,994,000	–	29,994	–	0.22%	–
ALLE	New	ALLEGION PUB LTD CO ORD SHS	$2,924,000	–	37,800	–	0.22%	–
CBT	New	CABOT CORP COM	$2,899,000	–	46,930	–	0.22%	–
OHI	New	OMEGA HEALTHCARE INVS INC COM	$2,895,000	–	93,399	–	0.22%	–
UDR	New	UDR INC COM	$2,865,000	–	76,337	–	0.21%	–
DK	New	DELEK US HLDGS INC NEW COM	$2,841,000	–	56,628	–	0.21%	–
INTC	New	INTEL CORP COM	$2,796,000	–	56,243	–	0.21%	–
PPG	New	PPG INDS INC COM	$2,804,000	–	27,032	–	0.21%	–
KALU	New	KAISER ALUMINUM CORP COM PAR $0.01	$2,799,000	–	26,884	–	0.21%	–
AIV	New	APARTMENT INVT & MGMT CO CL Acl a	$2,781,000	–	65,770	–	0.21%	–
DRE	New	DUKE REALTY CORP COM NEW	$2,678,000	–	92,263	–	0.20%	–
WWW	New	WOLVERINE WORLD WIDE INC COM	$2,653,000	–	76,300	–	0.20%	–
WPC	New	W P CAREY INC COM	$2,586,000	–	38,963	–	0.19%	–
EXR	New	EXTRA SPACE STORAGE INC COM	$2,565,000	–	25,694	–	0.19%	–
STAY	New	EXTENDED STAY AMER INC UNIT 99/99/9999Bunit 99/99/9999b	$2,546,000	–	117,820	–	0.19%	–
DCT	New	DCT INDUSTRIAL TRUST INC COM NEW	$2,534,000	–	37,996	–	0.19%	–
LPT	New	LIBERTY PPTY TR SH BEN INTsh ben int	$2,437,000	–	54,984	–	0.18%	–
TCO	New	TAUBMAN CTRS INC COM	$2,265,000	–	38,538	–	0.17%	–
ARE	New	ALEXANDRIA REAL ESTATE EQ IN COM	$2,230,000	–	17,675	–	0.17%	–
V	New	VISA INC COM CL Acl a	$2,236,000	–	16,885	–	0.17%	–
ACC	New	AMERICAN CAMPUS CMNTYS INC COM	$2,060,000	–	48,048	–	0.15%	–
APLE	New	APPLE HOSPITALITY REIT INC COM NEW	$1,994,000	–	111,532	–	0.15%	–
RLJ	New	RLJ LODGING TR COM	$1,980,000	–	89,815	–	0.15%	–
INVH	New	INVITATION HOMES INC COM	$1,953,000	–	84,700	–	0.15%	–
WRI	New	WEINGARTEN RLTY INVS SH BEN INTsh ben int	$1,922,000	–	62,376	–	0.14%	–
PG	New	PROCTER AND GAMBLE CO COM	$1,924,000	–	24,651	–	0.14%	–
HIW	New	HIGHWOODS PPTYS INC COM	$1,889,000	–	37,217	–	0.14%	–
AHT	New	ASHFORD HOSPITALITY TR INC COM SHS	$1,818,000	–	224,503	–	0.14%	–
EPR	New	EPR PPTYS COM SH BEN INTsh ben int	$1,770,000	–	27,311	–	0.13%	–
DEI	New	DOUGLAS EMMETT INC COM	$1,745,000	–	43,437	–	0.13%	–
ELS	New	EQUITY LIFESTYLE PPTYS INC COM	$1,686,000	–	18,346	–	0.13%	–
VR	New	VALIDUS HOLDINGS LTD COM SHS	$1,663,000	–	24,600	–	0.12%	–
FCEA	New	FOREST CITY RLTY TR INC COM CL Acl a	$1,620,000	–	70,999	–	0.12%	–
KRC	New	KILROY RLTY CORP COM	$1,605,000	–	21,221	–	0.12%	–
PDM	New	PIEDMONT OFFICE REALTY TR IN COM CL Acl a	$1,569,000	–	78,725	–	0.12%	–
PSB	New	PS BUSINESS PKS INC CALIF COM	$1,505,000	–	11,705	–	0.11%	–
SHO	New	SUNSTONE HOTEL INVS INC NEW COM	$1,456,000	–	87,600	–	0.11%	–
LXP	New	LEXINGTON REALTY TRUST COM	$1,440,000	–	164,931	–	0.11%	–
MPW	New	MEDICAL PPTYS TRUST INC COM	$1,419,000	–	101,055	–	0.11%	–
BDN	New	BRANDYWINE RLTY TR SH BEN INT NEWsh ben int new	$1,416,000	–	83,881	–	0.11%	–
CXP	New	COLUMBIA PPTY TR INC COM NEW	$1,423,000	–	62,675	–	0.11%	–
CLI	New	MACK CALI RLTY CORP COM	$1,409,000	–	69,453	–	0.10%	–
SKT	New	TANGER FACTORY OUTLET CTRS I COM	$1,341,000	–	57,098	–	0.10%	–
PGRE	New	PARAMOUNT GROUP INC COM	$1,342,000	–	87,154	–	0.10%	–
EQC	New	EQUITY COMWLTH COM SH BEN INTsh ben int	$1,225,000	–	38,890	–	0.09%	–
AMH	New	AMERICAN HOMES 4 RENT CL Acl a	$1,225,000	–	55,278	–	0.09%	–
GPT	New	GRAMERCY PPTY TR COM NEW	$1,081,000	–	39,569	–	0.08%	–
LSI	New	LIFE STORAGE INC COM	$1,070,000	–	11,000	–	0.08%	–
STOR	New	STORE CAP CORP COM	$992,000	–	36,200	–	0.07%	–
PEI	New	PENNSYLVANIA RL ESTATE INVT SH BEN INTsh ben int	$755,000	–	68,700	–	0.06%	–
CPLG	New	COREPOINT LODGING INC COM	$588,000	–	22,691	–	0.04%	–

Q4 2017

			Value		Shares		↓ Weighting
INVH	Exit	INVITATION HOMES INC COM	$0	–	-26,847	–	-0.05%	–
QCP	Exit	QUALITY CARE PPTYS INC COM	$0	–	-65,779	–	-0.08%	–
AFG	Exit	AMERICAN FINL GROUP INC OHIO COM	$0	–	-10,459	–	-0.08%	–
JBGS	Exit	JBG SMITH PPTYS COM	$0	–	-32,748	–	-0.09%	–
VR	Exit	VALIDUS HOLDINGS LTD COM SHS	$0	–	-24,850	–	-0.10%	–
SKT	Exit	TANGER FACTORY OUTLET CTRS I COM	$0	–	-52,814	–	-0.10%	–
GPT	Exit	GRAMERCY PPTY TR COM NEW	$0	–	-45,983	–	-0.11%	–
HR	Exit	HEALTHCARE RLTY TR COM	$0	–	-43,630	–	-0.11%	–
MPW	Exit	MEDICAL PPTYS TRUST INC COM	$0	–	-112,138	–	-0.11%	–
PSB	Exit	PS BUSINESS PKS INC CALIF COM	$0	–	-11,410	–	-0.12%	–
EQIX	Exit	EQUINIX INC COM PAR $0.001	$0	–	-3,493	–	-0.12%	–
PGRE	Exit	PARAMOUNT GROUP INC COM	$0	–	-99,456	–	-0.12%	–
CLI	Exit	MACK CALI RLTY CORP COM	$0	–	-67,762	–	-0.12%	–
OFC	Exit	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$0	–	-49,324	–	-0.12%	–
SUI	Exit	SUN CMNTYS INC COM	$0	–	-19,905	–	-0.13%	–
CPLA	Exit	CAPELLA EDUCATION COMPANY COM	$0	–	-24,859	–	-0.14%	–
BDN	Exit	BRANDYWINE RLTY TR SH BEN INT NEWsh ben int new	$0	–	-102,161	–	-0.14%	–
Q	Exit	QUINTILES IMS HOLDINGS INC COM	$0	–	-18,760	–	-0.14%	–
V	Exit	VISA INC COM CL Acl a	$0	–	-17,095	–	-0.14%	–
CXP	Exit	COLUMBIA PPTY TR INC COM NEW	$0	–	-84,970	–	-0.14%	–
STOR	Exit	STORE CAP CORP COM	$0	–	-75,506	–	-0.14%	–
KRC	Exit	KILROY RLTY CORP COM	$0	–	-27,065	–	-0.15%	–
LXP	Exit	LEXINGTON REALTY TRUST COM	$0	–	-190,154	–	-0.15%	–
EPR	Exit	EPR PPTYS COM SH BEN INTsh ben int	$0	–	-28,476	–	-0.15%	–
LQ	Exit	LA QUINTA HLDGS INC COM	$0	–	-113,089	–	-0.15%	–
AHT	Exit	ASHFORD HOSPITALITY TR INC COM SHS	$0	–	-302,905	–	-0.16%	–
DEI	Exit	DOUGLAS EMMETT INC COM	$0	–	-51,434	–	-0.16%	–
FCEA	Exit	FOREST CITY RLTY TR INC COM CL Acl a	$0	–	-79,715	–	-0.16%	–
ELS	Exit	EQUITY LIFESTYLE PPTYS INC COM	$0	–	-24,373	–	-0.16%	–
PRU	Exit	PRUDENTIAL FINL INC COM	$0	–	-19,699	–	-0.16%	–
ACC	Exit	AMERICAN CAMPUS CMNTYS INC COM	$0	–	-49,168	–	-0.17%	–
INTC	Exit	INTEL CORP COM	$0	–	-56,947	–	-0.17%	–
WRI	Exit	WEINGARTEN RLTY INVS SH BEN INTsh ben int	$0	–	-68,868	–	-0.17%	–
HIW	Exit	HIGHWOODS PPTYS INC COM	$0	–	-42,428	–	-0.17%	–
TCO	Exit	TAUBMAN CTRS INC COM	$0	–	-45,859	–	-0.18%	–
PDM	Exit	PIEDMONT OFFICE REALTY TR IN COM CL Acl a	$0	–	-116,143	–	-0.18%	–
APLE	Exit	APPLE HOSPITALITY REIT INC COM NEW	$0	–	-124,900	–	-0.18%	–
KALU	Exit	KAISER ALUMINUM CORP COM PAR $0.01	$0	–	-23,323	–	-0.19%	–
HPP	Exit	HUDSON PAC PPTYS INC COM	$0	–	-75,221	–	-0.20%	–
FRT	Exit	FEDERAL REALTY INVT TR SH BEN INT NEWsh ben int new	$0	–	-21,001	–	-0.20%	–
WWW	Exit	WOLVERINE WORLD WIDE INC COM	$0	–	-91,882	–	-0.20%	–
PG	Exit	PROCTER AND GAMBLE CO COM	$0	–	-29,265	–	-0.21%	–
OHI	Exit	OMEGA HEALTHCARE INVS INC COM	$0	–	-86,985	–	-0.22%	–
STAY	Exit	EXTENDED STAY AMER INC UNIT 99/99/9999Bunit 99/99/9999b	$0	–	-139,562	–	-0.22%	–
EXR	Exit	EXTRA SPACE STORAGE INC COM	$0	–	-35,346	–	-0.22%	–
MRK	Exit	MERCK & CO INC COM	$0	–	-45,395	–	-0.22%	–
MA	Exit	MASTERCARD INCORPORATED CL Acl a	$0	–	-20,821	–	-0.23%	–
SYY	Exit	SYSCO CORP COM	$0	–	-54,730	–	-0.23%	–
PPG	Exit	PPG INDS INC COM	$0	–	-27,371	–	-0.23%	–
DE	Exit	DEERE & CO COM	$0	–	-23,925	–	-0.23%	–
ALLE	Exit	ALLEGION PUB LTD CO ORD SHS	$0	–	-38,200	–	-0.23%	–
BLK	Exit	BLACKROCK INC COM	$0	–	-6,732	–	-0.23%	–
DRH	Exit	DIAMONDROCK HOSPITALITY CO COM	$0	–	-277,083	–	-0.23%	–
HST	Exit	HOST HOTELS & RESORTS INC COM	$0	–	-167,756	–	-0.24%	–
DDR	Exit	DDR CORP COM	$0	–	-339,257	–	-0.24%	–
PCLN	Exit	PRICELINE GRP INC COM NEW	$0	–	-1,695	–	-0.24%	–
SNH	Exit	SENIOR HSG PPTYS TR SH BEN INTsh ben int	$0	–	-160,227	–	-0.24%	–
WPC	Exit	W P CAREY INC COM	$0	–	-46,545	–	-0.24%	–
LPT	Exit	LIBERTY PPTY TR SH BEN INTsh ben int	$0	–	-77,449	–	-0.25%	–
SYNA	Exit	SYNAPTICS INC COM	$0	–	-82,216	–	-0.25%	–
RNR	Exit	RENAISSANCERE HOLDINGS LTD COM	$0	–	-23,876	–	-0.25%	–
SLCA	Exit	U S SILICA HLDGS INC COM	$0	–	-103,992	–	-0.25%	–
ANF	Exit	ABERCROMBIE & FITCH CO CL Acl a	$0	–	-225,403	–	-0.25%	–
CBLAQ	Exit	CBL & ASSOC PPTYS INC COM	$0	–	-390,165	–	-0.25%	–
TEN	Exit	TENNECO INC COM	$0	–	-54,169	–	-0.25%	–
PEP	Exit	PEPSICO INC COM	$0	–	-29,723	–	-0.26%	–
EL	Exit	LAUDER ESTEE COS INC CL Acl a	$0	–	-31,004	–	-0.26%	–
MSFT	Exit	MICROSOFT CORP COM	$0	–	-45,139	–	-0.26%	–
AIV	Exit	APARTMENT INVT & MGMT CO CL Acl a	$0	–	-77,205	–	-0.26%	–
JPM	Exit	JPMORGAN CHASE & CO COM	$0	–	-36,020	–	-0.27%	–
UDR	Exit	UDR INC COM	$0	–	-90,973	–	-0.27%	–
DRE	Exit	DUKE REALTY CORP COM NEW	$0	–	-123,230	–	-0.27%	–
JBL	Exit	JABIL INC COM	$0	–	-124,777	–	-0.28%	–
MMC	Exit	MARSH & MCLENNAN COS INC COM	$0	–	-42,623	–	-0.28%	–
GOOG	Exit	ALPHABET INC CAP STK CL Ccap stk cl c	$0	–	-3,864	–	-0.29%	–
ESS	Exit	ESSEX PPTY TR INC COM	$0	–	-14,614	–	-0.29%	–
FOGO	Exit	FOGO DE CHAO INC COM	$0	–	-311,330	–	-0.30%	–
HOPE	Exit	HOPE BANCORP INC COM	$0	–	-227,256	–	-0.31%	–
TECD	Exit	TECH DATA CORP COM	$0	–	-46,091	–	-0.32%	–
RLJ	Exit	RLJ LODGING TR COM	$0	–	-185,680	–	-0.32%	–
WPG	Exit	WASHINGTON PRIME GROUP NEW COM	$0	–	-497,950	–	-0.32%	–
VREX	Exit	VAREX IMAGING CORP COM	$0	–	-122,563	–	-0.32%	–
MRC	Exit	MRC GLOBAL INC COM	$0	–	-238,172	–	-0.32%	–
AMAT	Exit	APPLIED MATLS INC COM	$0	–	-81,032	–	-0.33%	–
DCT	Exit	DCT INDUSTRIAL TRUST INC COM NEW	$0	–	-74,024	–	-0.33%	–
EQC	Exit	EQUITY COMWLTH COM SH BEN INTsh ben int	$0	–	-140,783	–	-0.33%	–
SLG	Exit	SL GREEN RLTY CORP COM	$0	–	-42,746	–	-0.34%	–
BRX	Exit	BRIXMOR PPTY GROUP INC COM	$0	–	-232,354	–	-0.34%	–
AEO	Exit	AMERICAN EAGLE OUTFITTERS NE COM	$0	–	-306,682	–	-0.34%	–
REG	Exit	REGENCY CTRS CORP COM	$0	–	-76,807	–	-0.37%	–
O	Exit	REALTY INCOME CORP COM	$0	–	-84,039	–	-0.37%	–
AEL	Exit	AMERICAN EQTY INVT LIFE HLD COM	$0	–	-167,060	–	-0.38%	–
SCSS	Exit	SELECT COMFORT CORP COM	$0	–	-156,542	–	-0.38%	–
GTLS	Exit	CHART INDS INC COM PAR $0.01	$0	–	-124,804	–	-0.38%	–
NNN	Exit	NATIONAL RETAIL PPTYS INC COM	$0	–	-120,001	–	-0.39%	–
THR	Exit	THERMON GROUP HLDGS INC COM	$0	–	-278,502	–	-0.39%	–
KIM	Exit	KIMCO RLTY CORP COM	$0	–	-256,939	–	-0.39%	–
MAC	Exit	MACERICH CO COM	$0	–	-94,233	–	-0.40%	–
MAA	Exit	MID AMER APT CMNTYS INC COM	$0	–	-50,091	–	-0.41%	–
ARE	Exit	ALEXANDRIA REAL ESTATE EQ IN COM	$0	–	-46,785	–	-0.43%	–
TER	Exit	TERADYNE INC COM	$0	–	-153,938	–	-0.44%	–
DK	Exit	DELEK US HLDGS INC NEW COM	$0	–	-250,852	–	-0.52%	–
HTA	Exit	HEALTHCARE TR AMER INC CL A NEWcl a new	$0	–	-225,556	–	-0.52%	–
FSLR	Exit	FIRST SOLAR INC COM	$0	–	-154,366	–	-0.55%	–
ENS	Exit	ENERSYS COM	$0	–	-104,327	–	-0.56%	–
SAVE	Exit	SPIRIT AIRLS INC COM	$0	–	-217,381	–	-0.56%	–
LXFR	Exit	LUXFER HLDGS PLC SPONSORED ADRsponsored adr	$0	–	-612,715	–	-0.59%	–
LHCG	Exit	LHC GROUP INC COM	$0	–	-107,658	–	-0.59%	–
DLR	Exit	DIGITAL RLTY TR INC COM	$0	–	-66,172	–	-0.60%	–
VNO	Exit	VORNADO RLTY TR SH BEN INTsh ben int	$0	–	-102,294	–	-0.61%	–
GGP	Exit	GGP INC COM	$0	–	-382,511	–	-0.61%	–
TRN	Exit	TRINITY INDS INC COM	$0	–	-264,476	–	-0.65%	–
UBNT	Exit	UBIQUITI NETWORKS INC COM	$0	–	-153,168	–	-0.66%	–
HCP	Exit	HCP INC COM	$0	–	-312,336	–	-0.67%	–
AVB	Exit	AVALONBAY CMNTYS INC COM	$0	–	-51,789	–	-0.71%	–
BC	Exit	BRUNSWICK CORP COM	$0	–	-167,572	–	-0.72%	–
STX	Exit	SEAGATE TECHNOLOGY PLC SHS	$0	–	-283,682	–	-0.73%	–
TDC	Exit	TERADATA CORP DEL COM	$0	–	-289,689	–	-0.76%	–
DFRG	Exit	DEL FRISCOS RESTAURANT GROUP COM	$0	–	-672,975	–	-0.76%	–
PHI	Exit	PLDT INC SPONSORED ADRsponsored adr	$0	–	-328,968	–	-0.81%	–
WELL	Exit	WELLTOWER INC COM	$0	–	-151,986	–	-0.82%	–
VTR	Exit	VENTAS INC COM	$0	–	-177,624	–	-0.89%	–
RWT	Exit	REDWOOD TR INC COM	$0	–	-717,334	–	-0.90%	–
PSA	Exit	PUBLIC STORAGE COM	$0	–	-55,375	–	-0.92%	–
BXP	Exit	BOSTON PROPERTIES INC COM	$0	–	-102,768	–	-0.98%	–
PLD	Exit	PROLOGIS INC COM	$0	–	-210,909	–	-1.03%	–
KKR	Exit	KKR & CO L P DEL COM UNITS	$0	–	-672,498	–	-1.06%	–
EQR	Exit	EQUITY RESIDENTIAL SH BEN INTsh ben int	$0	–	-210,638	–	-1.07%	–
TRTN	Exit	TRITON INTL LTD CL Acl a	$0	–	-449,439	–	-1.16%	–
RPAI	Exit	RETAIL PPTYS AMER INC CL Acl a	$0	–	-1,143,529	–	-1.16%	–
BPY	Exit	BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTNunit ltd partn	$0	–	-526,509	–	-1.18%	–
PBF	Exit	PBF ENERGY INC CL Acl a	$0	–	-558,120	–	-1.19%	–
TU	Exit	TELUS CORP COM	$0	–	-374,251	–	-1.30%	–
LB	Exit	L BRANDS INC COM	$0	–	-429,050	–	-1.38%	–
QCOM	Exit	QUALCOMM INC COM	$0	–	-403,436	–	-1.62%	–
SKM	Exit	SK TELECOM LTD SPONSORED ADRsponsored adr	$0	–	-892,000	–	-1.70%	–
TWO	Exit	TWO HBRS INVT CORP COM	$0	–	-2,207,262	–	-1.72%	–
ARCC	Exit	ARES CAP CORP COM	$0	–	-1,410,325	–	-1.79%	–
NYCB	Exit	NEW YORK CMNTY BANCORP INC COM	$0	–	-1,807,432	–	-1.80%	–
EXC	Exit	EXELON CORP COM	$0	–	-621,000	–	-1.81%	–
CPT	Exit	CAMDEN PPTY TR SH BEN INTsh ben int	$0	–	-262,610	–	-1.86%	–
PEG	Exit	PUBLIC SVC ENTERPRISE GROUP COM	$0	–	-521,576	–	-1.86%	–
FNF	Exit	FIDELITY NATIONAL FINANCIAL FNF GROUP COM	$0	–	-515,950	–	-1.89%	–
LSI	Exit	LIFE STORAGE INC COM	$0	–	-300,600	–	-1.90%	–
VZ	Exit	VERIZON COMMUNICATIONS INC COM	$0	–	-503,705	–	-1.93%	–
SPG	Exit	SIMON PPTY GROUP INC NEW COM	$0	–	-156,422	–	-1.95%	–
VIV	Exit	TELEFONICA BRASIL SA SPONSORED ADRsponsored adr	$0	–	-1,673,574	–	-2.05%	–
VLO	Exit	VALERO ENERGY CORP NEW COM	$0	–	-345,221	–	-2.05%	–
GM	Exit	GENERAL MTRS CO COM	$0	–	-659,130	–	-2.06%	–
POT	Exit	POTASH CORP SASK INC COM	$0	–	-1,386,604	–	-2.06%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADRsponsored adr	$0	–	-712,564	–	-2.07%	–
CSCO	Exit	CISCO SYS INC COM	$0	–	-797,895	–	-2.07%	–
ABBV	Exit	ABBVIE INC COM	$0	–	-316,850	–	-2.18%	–
HFC	Exit	HOLLYFRONTIER CORP COM	$0	–	-852,200	–	-2.37%	–
CUBE	Exit	CUBESMART COM	$0	–	-1,223,069	–	-2.45%	–
CM	Exit	CDN IMPERIAL BK COMM TORONTO COM	$0	–	-291,000	–	-2.46%	–
SLF	Exit	SUN LIFE FINL INC COM	$0	–	-710,562	–	-2.73%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N SHS - A -	$0	–	-402,683	–	-3.08%	–

Q3 2017

			Value		Shares		↓ Weighting
LYB	Sell	LYONDELLBASELL INDUSTRIES N SHS - A -	$39,885,000	+13.3%	402,683	-3.5%	3.08%	-7.2%
SLF	New	SUN LIFE FINL INC COM	$35,308,000	–	710,562	–	2.73%	–
CM	New	CDN IMPERIAL BK COMM TORONTO COM	$31,769,000	–	291,000	–	2.46%	–
CUBE	Buy	CUBESMART COM	$31,751,000	+11.7%	1,223,069	+3.4%	2.45%	-8.5%
HFC	Sell	HOLLYFRONTIER CORP COM	$30,654,000	+25.8%	852,200	-3.9%	2.37%	+3.1%
ABBV	Sell	ABBVIE INC COM	$28,155,000	+17.7%	316,850	-4.0%	2.18%	-3.5%
CSCO	Sell	CISCO SYS INC COM	$26,833,000	+3.9%	797,895	-3.3%	2.07%	-14.9%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADRsponsored adr	$26,757,000	+3.9%	712,564	-3.3%	2.07%	-14.9%
POT	Sell	POTASH CORP SASK INC COM	$26,678,000	+13.4%	1,386,604	-4.0%	2.06%	-7.1%
GM	Sell	GENERAL MTRS CO COM	$26,615,000	+11.0%	659,130	-4.0%	2.06%	-9.1%
VLO	Sell	VALERO ENERGY CORP NEW COM	$26,558,000	+9.5%	345,221	-4.0%	2.05%	-10.3%
VIV	Sell	TELEFONICA BRASIL SA SPONSORED ADRsponsored adr	$26,510,000	+12.8%	1,673,574	-4.0%	2.05%	-7.6%
SPG	Buy	SIMON PPTY GROUP INC NEW COM	$25,186,000	+13.0%	156,422	+13.6%	1.95%	-7.4%
VZ	Sell	VERIZON COMMUNICATIONS INC COM	$24,929,000	-3.3%	503,705	-12.7%	1.93%	-20.8%
LSI	Sell	LIFE STORAGE INC COM	$24,593,000	+6.0%	300,600	-4.0%	1.90%	-13.1%
FNF	Sell	FIDELITY NATIONAL FINANCIAL FNF GROUP COM	$24,487,000	+1.7%	515,950	-4.0%	1.89%	-16.7%
PEG	Sell	PUBLIC SVC ENTERPRISE GROUP COM	$24,123,000	+3.3%	521,576	-4.0%	1.86%	-15.4%
CPT	Sell	CAMDEN PPTY TR SH BEN INTsh ben int	$24,017,000	-9.2%	262,610	-15.1%	1.86%	-25.6%
EXC	Sell	EXELON CORP COM	$23,393,000	+0.3%	621,000	-4.0%	1.81%	-17.8%
NYCB	Sell	NEW YORK CMNTY BANCORP INC COM	$23,298,000	-12.2%	1,807,432	-10.5%	1.80%	-28.0%
ARCC	Sell	ARES CAP CORP COM	$23,115,000	-3.9%	1,410,325	-4.0%	1.79%	-21.3%
TWO	Sell	TWO HBRS INVT CORP COM	$22,249,000	-4.5%	2,207,262	-6.1%	1.72%	-21.7%
SKM	Sell	SK TELECOM LTD SPONSORED ADRsponsored adr	$21,934,000	-8.1%	892,000	-4.1%	1.70%	-24.7%
QCOM	Sell	QUALCOMM INC COM	$20,914,000	-9.9%	403,436	-4.0%	1.62%	-26.1%
LB	Sell	L BRANDS INC COM	$17,853,000	-25.9%	429,050	-4.0%	1.38%	-39.3%
TU	New	TELUS CORP COM	$16,796,000	–	374,251	–	1.30%	–
PBF	Sell	PBF ENERGY INC CL Acl a	$15,410,000	+19.2%	558,120	-3.9%	1.19%	-2.3%
BPY	New	BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTNunit ltd partn	$15,295,000	–	526,509	–	1.18%	–
RPAI	Sell	RETAIL PPTYS AMER INC CL Acl a	$15,016,000	+2.2%	1,143,529	-5.0%	1.16%	-16.2%
TRTN	Buy	TRITON INTL LTD CL Acl a	$14,957,000	+20.6%	449,439	+21.2%	1.16%	-1.2%
EQR	Buy	EQUITY RESIDENTIAL SH BEN INTsh ben int	$13,887,000	+12.2%	210,638	+12.0%	1.07%	-8.1%
KKR	Sell	KKR & CO L P DEL COM UNITS	$13,672,000	+5.0%	672,498	-3.9%	1.06%	-14.0%
PLD	Sell	PROLOGIS INC COM	$13,385,000	+8.0%	210,909	-0.2%	1.03%	-11.5%
BXP	Buy	BOSTON PROPERTIES INC COM	$12,628,000	+11.6%	102,768	+11.8%	0.98%	-8.5%
PSA	Buy	PUBLIC STORAGE COM	$11,850,000	+14.1%	55,375	+11.2%	0.92%	-6.5%
RWT	Sell	REDWOOD TR INC COM	$11,686,000	-8.1%	717,334	-3.9%	0.90%	-24.7%
VTR	Sell	VENTAS INC COM	$11,569,000	-9.5%	177,624	-3.4%	0.89%	-25.8%
WELL	Buy	WELLTOWER INC COM	$10,681,000	+5.5%	151,986	+12.4%	0.82%	-13.6%
PHI	Sell	PLDT INC SPONSORED ADRsponsored adr	$10,500,000	-13.2%	328,968	-4.0%	0.81%	-28.9%
DFRG	Buy	DEL FRISCOS RESTAURANT GROUP COM	$9,792,000	+101.1%	672,975	+122.5%	0.76%	+64.9%
TDC	Buy	TERADATA CORP DEL COM	$9,789,000	+96.6%	289,689	+71.6%	0.76%	+60.9%
STX	Sell	SEAGATE TECHNOLOGY PLC SHS	$9,410,000	-17.8%	283,682	-3.9%	0.73%	-32.6%
BC	Buy	BRUNSWICK CORP COM	$9,379,000	+224.5%	167,572	+263.7%	0.72%	+165.6%
AVB	Buy	AVALONBAY CMNTYS INC COM	$9,239,000	+24.4%	51,789	+34.0%	0.71%	+2.0%
HCP	Buy	HCP INC COM	$8,693,000	+3.1%	312,336	+18.4%	0.67%	-15.5%
UBNT	Buy	UBIQUITI NETWORKS INC COM	$8,580,000	+155.1%	153,168	+136.7%	0.66%	+109.1%
TRN	Buy	TRINITY INDS INC COM	$8,437,000	+148.9%	264,476	+118.7%	0.65%	+103.8%
GGP	Buy	GGP INC COM	$7,945,000	-4.8%	382,511	+8.0%	0.61%	-22.0%
VNO	Buy	VORNADO RLTY TR SH BEN INTsh ben int	$7,864,000	-17.6%	102,294	+0.7%	0.61%	-32.4%
DLR	Buy	DIGITAL RLTY TR INC COM	$7,830,000	+48.8%	66,172	+42.1%	0.60%	+22.0%
LHCG	Buy	LHC GROUP INC COM	$7,635,000	+71.4%	107,658	+64.1%	0.59%	+40.5%
LXFR	Buy	LUXFER HLDGS PLC SPONSORED ADRsponsored adr	$7,628,000	+165.3%	612,715	+172.5%	0.59%	+117.3%
SAVE	Buy	SPIRIT AIRLS INC COM	$7,263,000	+153.0%	217,381	+291.0%	0.56%	+107.0%
ENS	Buy	ENERSYS COM	$7,216,000	+193.7%	104,327	+207.7%	0.56%	+140.5%
FSLR	Buy	FIRST SOLAR INC COM	$7,082,000	+77.7%	154,366	+54.5%	0.55%	+45.5%
HTA	Buy	HEALTHCARE TR AMER INC CL A NEWcl a new	$6,722,000	+27.5%	225,556	+33.1%	0.52%	+4.4%
DK	New	DELEK US HLDGS INC NEW COM	$6,705,000	–	250,852	–	0.52%	–
TER	Buy	TERADYNE INC COM	$5,740,000	+102.6%	153,938	+63.2%	0.44%	+66.3%
ARE	Buy	ALEXANDRIA REAL ESTATE EQ IN COM	$5,566,000	+58.1%	46,785	+60.1%	0.43%	+29.5%
MAA	Sell	MID AMER APT CMNTYS INC COM	$5,354,000	-4.9%	50,091	-6.2%	0.41%	-22.0%
MAC	Buy	MACERICH CO COM	$5,180,000	+6.3%	94,233	+12.3%	0.40%	-12.9%
KIM	Buy	KIMCO RLTY CORP COM	$5,023,000	+19.7%	256,939	+12.3%	0.39%	-2.0%
THR	Buy	THERMON GROUP HLDGS INC COM	$5,010,000	+97.1%	278,502	+110.0%	0.39%	+61.2%
NNN	Buy	NATIONAL RETAIL PPTYS INC COM	$4,999,000	+118.1%	120,001	+104.7%	0.39%	+78.7%
GTLS	Buy	CHART INDS INC COM PAR $0.01	$4,896,000	+180.6%	124,804	+148.4%	0.38%	+129.1%
SCSS	Buy	SELECT COMFORT CORP COM	$4,861,000	+44.1%	156,542	+64.7%	0.38%	+18.2%
AEL	Buy	AMERICAN EQTY INVT LIFE HLD COM	$4,858,000	+121.6%	167,060	+100.3%	0.38%	+81.2%
O	Buy	REALTY INCOME CORP COM	$4,807,000	+16.4%	84,039	+12.3%	0.37%	-4.9%
REG	Buy	REGENCY CTRS CORP COM	$4,766,000	+2.7%	76,807	+3.6%	0.37%	-16.0%
AEO	Buy	AMERICAN EAGLE OUTFITTERS NE COM	$4,386,000	+81.7%	306,682	+53.1%	0.34%	+48.7%
BRX	Buy	BRIXMOR PPTY GROUP INC COM	$4,369,000	+44.4%	232,354	+37.3%	0.34%	+18.6%
SLG	Buy	SL GREEN RLTY CORP COM	$4,330,000	+6.8%	42,746	+11.5%	0.34%	-12.3%
EQC	Buy	EQUITY COMWLTH COM SH BEN INTsh ben int	$4,279,000	+26.3%	140,783	+31.3%	0.33%	+3.4%
DCT	Buy	DCT INDUSTRIAL TRUST INC COM NEW	$4,286,000	+258.7%	74,024	+231.0%	0.33%	+192.9%
AMAT	Buy	APPLIED MATLS INC COM	$4,221,000	+29.5%	81,032	+2.7%	0.33%	+6.2%
MRC	Buy	MRC GLOBAL INC COM	$4,166,000	+103.5%	238,172	+92.2%	0.32%	+66.8%
VREX	Buy	VAREX IMAGING CORP COM	$4,148,000	+208.2%	122,563	+207.8%	0.32%	+152.8%
WPG	Buy	WASHINGTON PRIME GROUP NEW COM	$4,148,000	+12.3%	497,950	+12.9%	0.32%	-7.8%
RLJ	Buy	RLJ LODGING TR COM	$4,085,000	+94.7%	185,680	+75.9%	0.32%	+59.6%
TECD	Buy	TECH DATA CORP COM	$4,095,000	+98.3%	46,091	+125.5%	0.32%	+62.1%
HOPE	Buy	HOPE BANCORP INC COM	$4,025,000	+136.8%	227,256	+149.3%	0.31%	+94.4%
FOGO	New	FOGO DE CHAO INC COM	$3,860,000	–	311,330	–	0.30%	–
ESS	Buy	ESSEX PPTY TR INC COM	$3,712,000	+10.1%	14,614	+11.5%	0.29%	-9.7%
GOOG	Buy	ALPHABET INC CAP STK CL Ccap stk cl c	$3,706,000	+22.4%	3,864	+15.9%	0.29%	0.0%
MMC	Buy	MARSH & MCLENNAN COS INC COM	$3,572,000	+10.4%	42,623	+2.7%	0.28%	-9.5%
JBL	Buy	JABIL INC COM	$3,562,000	+44.9%	124,777	+48.1%	0.28%	+18.5%
DRE	Buy	DUKE REALTY CORP COM NEW	$3,552,000	+15.7%	123,230	+12.2%	0.27%	-5.2%
UDR	Buy	UDR INC COM	$3,459,000	+9.6%	90,973	+12.3%	0.27%	-10.4%
JPM	Buy	JPMORGAN CHASE & CO COM	$3,440,000	+7.3%	36,020	+2.7%	0.27%	-11.9%
AIV	Buy	APARTMENT INVT & MGMT CO CL Acl a	$3,386,000	+14.6%	77,205	+12.3%	0.26%	-6.1%
MSFT	Buy	MICROSOFT CORP COM	$3,362,000	+11.0%	45,139	+2.7%	0.26%	-9.1%
EL	Sell	LAUDER ESTEE COS INC CL Acl a	$3,343,000	+4.8%	31,004	-6.7%	0.26%	-14.3%
PEP	Buy	PEPSICO INC COM	$3,312,000	-0.9%	29,723	+2.7%	0.26%	-18.7%
TEN	Buy	TENNECO INC COM	$3,286,000	+124.5%	54,169	+114.0%	0.25%	+84.1%
CBLAQ	Buy	CBL & ASSOC PPTYS INC COM	$3,274,000	+11.7%	390,165	+12.2%	0.25%	-8.3%
ANF	Buy	ABERCROMBIE & FITCH CO CL Acl a	$3,255,000	+121.3%	225,403	+90.6%	0.25%	+81.3%
SLCA	New	U S SILICA HLDGS INC COM	$3,231,000	–	103,992	–	0.25%	–
RNR	New	RENAISSANCERE HOLDINGS LTD COM	$3,227,000	–	23,876	–	0.25%	–
SYNA	Buy	SYNAPTICS INC COM	$3,221,000	+36.4%	82,216	+80.0%	0.25%	+11.7%
LPT	Buy	LIBERTY PPTY TR SH BEN INTsh ben int	$3,179,000	+13.2%	77,449	+12.3%	0.25%	-7.2%
SNH	Buy	SENIOR HSG PPTYS TR SH BEN INTsh ben int	$3,133,000	+8.3%	160,227	+13.2%	0.24%	-11.4%
WPC	Buy	W P CAREY INC COM	$3,137,000	+14.0%	46,545	+11.7%	0.24%	-6.6%
HST	Buy	HOST HOTELS & RESORTS INC COM	$3,101,000	+14.2%	167,756	+12.9%	0.24%	-6.2%
PCLN	Buy	PRICELINE GRP INC COM NEW	$3,103,000	+157.3%	1,695	+162.8%	0.24%	+110.5%
DDR	Buy	DDR CORP COM	$3,108,000	+13.1%	339,257	+12.0%	0.24%	-7.3%
DRH	Buy	DIAMONDROCK HOSPITALITY CO COM	$3,034,000	+84.8%	277,083	+84.7%	0.23%	+51.0%
ALLE	Buy	ALLEGION PUB LTD CO ORD SHS	$3,018,000	0.0%	38,200	+2.7%	0.23%	-18.2%
BLK	New	BLACKROCK INC COM	$3,010,000	–	6,732	–	0.23%	–
DE	Buy	DEERE & CO COM	$3,005,000	+4.3%	23,925	+2.7%	0.23%	-14.7%
PPG	Buy	PPG INDS INC COM	$2,974,000	+1.5%	27,371	+2.7%	0.23%	-16.7%
SYY	Buy	SYSCO CORP COM	$2,953,000	+10.1%	54,730	+2.7%	0.23%	-9.9%
MA	Buy	MASTERCARD INCORPORATED CL Acl a	$2,940,000	+19.4%	20,821	+2.7%	0.23%	-2.2%
MRK	Buy	MERCK & CO INC COM	$2,907,000	+2.6%	45,395	+2.7%	0.22%	-15.7%
EXR	Buy	EXTRA SPACE STORAGE INC COM	$2,825,000	+14.5%	35,346	+11.7%	0.22%	-6.4%
STAY	Buy	EXTENDED STAY AMER INC UNIT 99/99/9999Bunit 99/99/9999b	$2,791,000	+16.0%	139,562	+12.3%	0.22%	-4.8%
OHI	Buy	OMEGA HEALTHCARE INVS INC COM	$2,776,000	+9.1%	86,985	+12.9%	0.22%	-10.4%
PG	Buy	PROCTER AND GAMBLE CO COM	$2,663,000	+7.2%	29,265	+2.7%	0.21%	-12.0%
WWW	Buy	WOLVERINE WORLD WIDE INC COM	$2,651,000	+99.6%	91,882	+93.8%	0.20%	+64.0%
FRT	Buy	FEDERAL REALTY INVT TR SH BEN INT NEWsh ben int new	$2,609,000	+10.0%	21,001	+11.9%	0.20%	-9.8%
HPP	New	HUDSON PAC PPTYS INC COM	$2,522,000	–	75,221	–	0.20%	–
KALU	Sell	KAISER ALUMINUM CORP COM PAR $0.01	$2,406,000	+11.6%	23,323	-4.2%	0.19%	-8.4%
APLE	Buy	APPLE HOSPITALITY REIT INC COM NEW	$2,362,000	+13.6%	124,900	+12.3%	0.18%	-6.6%
PDM	Buy	PIEDMONT OFFICE REALTY TR IN COM CL Acl a	$2,341,000	+37.9%	116,143	+44.2%	0.18%	+13.1%
TCO	Buy	TAUBMAN CTRS INC COM	$2,279,000	-7.1%	45,859	+11.3%	0.18%	-23.8%
HIW	Buy	HIGHWOODS PPTYS INC COM	$2,210,000	+14.7%	42,428	+11.7%	0.17%	-6.0%
WRI	Buy	WEINGARTEN RLTY INVS SH BEN INTsh ben int	$2,186,000	+18.6%	68,868	+12.4%	0.17%	-2.9%
INTC	Buy	INTEL CORP COM	$2,169,000	+15.9%	56,947	+2.7%	0.17%	-4.5%
ACC	Buy	AMERICAN CAMPUS CMNTYS INC COM	$2,170,000	+4.5%	49,168	+12.0%	0.17%	-14.3%
PRU	Buy	PRUDENTIAL FINL INC COM	$2,094,000	+165.4%	19,699	+169.8%	0.16%	+118.9%
ELS	Buy	EQUITY LIFESTYLE PPTYS INC COM	$2,074,000	+9.7%	24,373	+11.3%	0.16%	-10.1%
DEI	Buy	DOUGLAS EMMETT INC COM	$2,028,000	+14.9%	51,434	+11.3%	0.16%	-5.4%
FCEA	Buy	FOREST CITY RLTY TR INC COM CL Acl a	$2,033,000	+17.9%	79,715	+11.7%	0.16%	-3.7%
AHT	Buy	ASHFORD HOSPITALITY TR INC COM SHS	$2,021,000	+23.2%	302,905	+12.2%	0.16%	+0.6%
LQ	Buy	LA QUINTA HLDGS INC COM	$1,979,000	+32.4%	113,089	+11.7%	0.15%	+8.5%
EPR	Buy	EPR PPTYS COM SH BEN INTsh ben int	$1,986,000	+8.8%	28,476	+12.1%	0.15%	-11.0%
LXP	Buy	LEXINGTON REALTY TRUST COM	$1,943,000	+15.6%	190,154	+12.1%	0.15%	-5.7%
KRC	Buy	KILROY RLTY CORP COM	$1,925,000	+5.4%	27,065	+11.3%	0.15%	-13.4%
STOR	Sell	STORE CAP CORP COM	$1,878,000	-19.9%	75,506	-27.7%	0.14%	-34.4%
CXP	Buy	COLUMBIA PPTY TR INC COM NEW	$1,850,000	+9.4%	84,970	+12.5%	0.14%	-10.1%
V	Buy	VISA INC COM CL Acl a	$1,799,000	+44.3%	17,095	+28.5%	0.14%	+17.8%
Q	Buy	QUINTILES IMS HOLDINGS INC COM	$1,784,000	+9.1%	18,760	+2.7%	0.14%	-10.4%
BDN	Buy	BRANDYWINE RLTY TR SH BEN INT NEWsh ben int new	$1,787,000	+12.0%	102,161	+12.2%	0.14%	-8.0%
CPLA	Buy	CAPELLA EDUCATION COMPANY COM	$1,744,000	+107.9%	24,859	+153.5%	0.14%	+70.9%
SUI	Sell	SUN CMNTYS INC COM	$1,705,000	-37.2%	19,905	-35.7%	0.13%	-48.4%
OFC	Buy	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$1,620,000	+3.7%	49,324	+10.6%	0.12%	-15.0%
CLI	Buy	MACK CALI RLTY CORP COM	$1,607,000	-2.7%	67,762	+11.4%	0.12%	-20.5%
PGRE	Buy	PARAMOUNT GROUP INC COM	$1,591,000	+10.5%	99,456	+10.5%	0.12%	-9.6%
EQIX	New	EQUINIX INC COM PAR $0.001	$1,559,000	–	3,493	–	0.12%	–
PSB	Buy	PS BUSINESS PKS INC CALIF COM	$1,523,000	+11.8%	11,410	+10.9%	0.12%	-7.8%
MPW	Buy	MEDICAL PPTYS TRUST INC COM	$1,472,000	+14.6%	112,138	+12.3%	0.11%	-5.8%
HR	Buy	HEALTHCARE RLTY TR COM	$1,412,000	+5.8%	43,630	+11.7%	0.11%	-13.5%
GPT	Buy	GRAMERCY PPTY TR COM NEW	$1,391,000	+13.7%	45,983	+11.7%	0.11%	-7.0%
SKT	Buy	TANGER FACTORY OUTLET CTRS I COM	$1,290,000	+5.0%	52,814	+11.8%	0.10%	-13.8%
VR	New	VALIDUS HOLDINGS LTD COM SHS	$1,223,000	–	24,850	–	0.10%	–
JBGS	New	JBG SMITH PPTYS COM	$1,120,000	–	32,748	–	0.09%	–
AFG	Sell	AMERICAN FINL GROUP INC OHIO COM	$1,082,000	-18.1%	10,459	-21.3%	0.08%	-32.8%
QCP	Buy	QUALITY CARE PPTYS INC COM	$1,019,000	-6.3%	65,779	+10.8%	0.08%	-23.3%
INVH	New	INVITATION HOMES INC COM	$608,000	–	26,847	–	0.05%	–
GNCIQ	Exit	GNC HLDGS INC COM CL Acl a	$0	–	-120,000	–	-0.10%	–
FCH	Exit	FELCOR LODGING TR INC COM	$0	–	-164,530	–	-0.11%	–
VER	Exit	VEREIT INC COM	$0	–	-152,951	–	-0.12%	–
CUZ	Exit	COUSINS PPTYS INC COM	$0	–	-140,971	–	-0.12%	–
SAFM	Exit	SANDERSON FARMS INC COM	$0	–	-11,462	–	-0.12%	–
KRO	Exit	KRONOS WORLDWIDE INC COM	$0	–	-88,441	–	-0.15%	–
MAT	Exit	MATTEL INC COM	$0	–	-100,599	–	-0.20%	–
PFG	Exit	PRINCIPAL FINL GROUP INC COM	$0	–	-41,748	–	-0.25%	–
DFT	Exit	DUPONT FABROS TECHNOLOGY INC COM	$0	–	-46,433	–	-0.27%	–
DK	Exit	DELEK US HLDGS INC COM	$0	–	-125,891	–	-0.31%	–
PM	Exit	PHILIP MORRIS INTL INC COM	$0	–	-105,780	–	-1.17%	–

Q2 2017

			Value		Shares		↓ Weighting
LYB	New	LYONDELLBASELL INDUSTRIES N SHS - A -	$35,218,000	–	417,318	–	3.32%	–
CUBE	New	CUBESMART COM	$28,430,000	–	1,182,549	–	2.68%	–
NYCB	New	NEW YORK CMNTY BANCORP INC COM	$26,527,000	–	2,020,282	–	2.50%	–
CPT	New	CAMDEN PPTY TR SH BEN INTsh ben int	$26,465,000	–	309,488	–	2.50%	–
CSCO	New	CISCO SYS INC COM	$25,827,000	–	825,174	–	2.44%	–
VZ	New	VERIZON COMMUNICATIONS INC COM	$25,781,000	–	577,283	–	2.43%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADRsponsored adr	$25,764,000	–	736,960	–	2.43%	–
HFC	New	HOLLYFRONTIER CORP COM	$24,366,000	–	887,000	–	2.30%	–
VLO	New	VALERO ENERGY CORP NEW COM	$24,260,000	–	359,621	–	2.29%	–
LB	New	L BRANDS INC COM	$24,078,000	–	446,800	–	2.27%	–
FNF	New	FIDELITY NATIONAL FINANCIAL FNF GROUP COM	$24,082,000	–	537,200	–	2.27%	–
ARCC	New	ARES CAP CORP COM	$24,054,000	–	1,468,525	–	2.27%	–
GM	New	GENERAL MTRS CO COM	$23,986,000	–	686,680	–	2.26%	–
ABBV	New	ABBVIE INC COM	$23,921,000	–	329,900	–	2.26%	–
SKM	New	SK TELECOM LTD SPONSORED ADRsponsored adr	$23,868,000	–	929,800	–	2.25%	–
POT	New	POTASH CORP SASK INC COM	$23,534,000	–	1,443,804	–	2.22%	–
VIV	New	TELEFONICA BRASIL SA SPONSORED ADRsponsored adr	$23,508,000	–	1,742,574	–	2.22%	–
PEG	New	PUBLIC SVC ENTERPRISE GROUP COM	$23,360,000	–	543,126	–	2.20%	–
EXC	New	EXELON CORP COM	$23,332,000	–	646,850	–	2.20%	–
TWO	New	TWO HBRS INVT CORP COM	$23,290,000	–	2,350,212	–	2.20%	–
QCOM	New	QUALCOMM INC COM	$23,205,000	–	420,236	–	2.19%	–
LSI	New	LIFE STORAGE INC COM	$23,193,000	–	313,000	–	2.19%	–
SPG	New	SIMON PPTY GROUP INC NEW COM	$22,282,000	–	137,744	–	2.10%	–
RPAI	New	RETAIL PPTYS AMER INC CL Acl a	$14,689,000	–	1,203,126	–	1.38%	–
KKR	New	KKR & CO L P DEL COM UNITS	$13,020,000	–	700,048	–	1.23%	–
PBF	New	PBF ENERGY INC CL Acl a	$12,931,000	–	580,920	–	1.22%	–
VTR	New	VENTAS INC COM	$12,779,000	–	183,907	–	1.20%	–
RWT	New	REDWOOD TR INC COM	$12,713,000	–	746,084	–	1.20%	–
PM	New	PHILIP MORRIS INTL INC COM	$12,424,000	–	105,780	–	1.17%	–
TRTN	New	TRITON INTL LTD CL Acl a	$12,404,000	–	370,939	–	1.17%	–
PLD	New	PROLOGIS INC COM	$12,390,000	–	211,296	–	1.17%	–
EQR	New	EQUITY RESIDENTIAL SH BEN INTsh ben int	$12,379,000	–	188,039	–	1.17%	–
PHI	New	PLDT INC SPONSORED ADRsponsored adr	$12,096,000	–	342,568	–	1.14%	–
STX	New	SEAGATE TECHNOLOGY PLC SHS	$11,444,000	–	295,332	–	1.08%	–
BXP	New	BOSTON PROPERTIES INC COM	$11,312,000	–	91,961	–	1.07%	–
PSA	New	PUBLIC STORAGE COM	$10,389,000	–	49,820	–	0.98%	–
WELL	New	WELLTOWER INC COM	$10,124,000	–	135,262	–	0.96%	–
VNO	New	VORNADO RLTY TR SH BEN INTsh ben int	$9,538,000	–	101,573	–	0.90%	–
HCP	New	HCP INC COM	$8,435,000	–	263,904	–	0.80%	–
GGP	New	GGP INC COM	$8,345,000	–	354,200	–	0.79%	–
AVB	New	AVALONBAY CMNTYS INC COM	$7,426,000	–	38,642	–	0.70%	–
MAA	New	MID AMER APT CMNTYS INC COM	$5,628,000	–	53,408	–	0.53%	–
HTA	New	HEALTHCARE TR AMER INC CL A NEWcl a new	$5,274,000	–	169,519	–	0.50%	–
DLR	New	DIGITAL RLTY TR INC COM	$5,261,000	–	46,581	–	0.50%	–
TDC	New	TERADATA CORP DEL COM	$4,979,000	–	168,827	–	0.47%	–
DFRG	New	DEL FRISCOS RESTAURANT GROUP COM	$4,869,000	–	302,407	–	0.46%	–
MAC	New	MACERICH CO COM	$4,871,000	–	83,913	–	0.46%	–
REG	New	REGENCY CTRS CORP COM	$4,642,000	–	74,114	–	0.44%	–
LHCG	New	LHC GROUP INC COM	$4,454,000	–	65,605	–	0.42%	–
KIM	New	KIMCO RLTY CORP COM	$4,198,000	–	228,774	–	0.40%	–
O	New	REALTY INCOME CORP COM	$4,131,000	–	74,855	–	0.39%	–
SLG	New	SL GREEN RLTY CORP COM	$4,054,000	–	38,325	–	0.38%	–
FSLR	New	FIRST SOLAR INC COM	$3,986,000	–	99,939	–	0.38%	–
WPG	New	WASHINGTON PRIME GROUP NEW COM	$3,694,000	–	441,246	–	0.35%	–
ARE	New	ALEXANDRIA REAL ESTATE EQ IN COM	$3,520,000	–	29,224	–	0.33%	–
TRN	New	TRINITY INDS INC COM	$3,390,000	–	120,925	–	0.32%	–
EQC	New	EQUITY COMWLTH COM SH BEN INTsh ben int	$3,389,000	–	107,230	–	0.32%	–
ESS	New	ESSEX PPTY TR INC COM	$3,371,000	–	13,104	–	0.32%	–
SCSS	New	SELECT COMFORT CORP COM	$3,373,000	–	95,041	–	0.32%	–
UBNT	New	UBIQUITI NETWORKS INC COM	$3,364,000	–	64,721	–	0.32%	–
PEP	New	PEPSICO INC COM	$3,343,000	–	28,946	–	0.32%	–
DK	New	DELEK US HLDGS INC COM	$3,329,000	–	125,891	–	0.31%	–
AMAT	New	APPLIED MATLS INC COM	$3,260,000	–	78,914	–	0.31%	–
MMC	New	MARSH & MCLENNAN COS INC COM	$3,236,000	–	41,509	–	0.30%	–
JPM	New	JPMORGAN CHASE & CO COM	$3,206,000	–	35,079	–	0.30%	–
EL	New	LAUDER ESTEE COS INC CL Acl a	$3,189,000	–	33,221	–	0.30%	–
UDR	New	UDR INC COM	$3,156,000	–	80,989	–	0.30%	–
DRE	New	DUKE REALTY CORP COM NEW	$3,070,000	–	109,826	–	0.29%	–
MSFT	New	MICROSOFT CORP COM	$3,030,000	–	43,959	–	0.29%	–
GOOG	New	ALPHABET INC CAP STK CL Ccap stk cl c	$3,029,000	–	3,333	–	0.29%	–
BRX	New	BRIXMOR PPTY GROUP INC COM	$3,026,000	–	169,223	–	0.28%	–
ALLE	New	ALLEGION PUB LTD CO ORD SHS	$3,018,000	–	37,200	–	0.28%	–
AIV	New	APARTMENT INVT & MGMT CO CL Acl a	$2,954,000	–	68,744	–	0.28%	–
PPG	New	PPG INDS INC COM	$2,931,000	–	26,656	–	0.28%	–
CBLAQ	New	CBL & ASSOC PPTYS INC COM	$2,930,000	–	347,616	–	0.28%	–
SNH	New	SENIOR HSG PPTYS TR SH BEN INTsh ben int	$2,894,000	–	141,567	–	0.27%	–
BC	New	BRUNSWICK CORP COM	$2,890,000	–	46,077	–	0.27%	–
DE	New	DEERE & CO COM	$2,880,000	–	23,300	–	0.27%	–
LXFR	New	LUXFER HLDGS PLC SPONSORED ADRsponsored adr	$2,875,000	–	224,819	–	0.27%	–
SAVE	New	SPIRIT AIRLS INC COM	$2,871,000	–	55,590	–	0.27%	–
DFT	New	DUPONT FABROS TECHNOLOGY INC COM	$2,841,000	–	46,433	–	0.27%	–
TER	New	TERADYNE INC COM	$2,833,000	–	94,349	–	0.27%	–
MRK	New	MERCK & CO INC COM	$2,833,000	–	44,209	–	0.27%	–
LPT	New	LIBERTY PPTY TR SH BEN INTsh ben int	$2,809,000	–	68,993	–	0.26%	–
DDR	New	DDR CORP COM	$2,748,000	–	303,038	–	0.26%	–
WPC	New	W P CAREY INC COM	$2,751,000	–	41,668	–	0.26%	–
SUI	New	SUN CMNTYS INC COM	$2,715,000	–	30,961	–	0.26%	–
HST	New	HOST HOTELS & RESORTS INC COM	$2,716,000	–	148,621	–	0.26%	–
SYY	New	SYSCO CORP COM	$2,683,000	–	53,300	–	0.25%	–
PFG	New	PRINCIPAL FINL GROUP INC COM	$2,675,000	–	41,748	–	0.25%	–
THR	New	THERMON GROUP HLDGS INC COM	$2,542,000	–	132,607	–	0.24%	–
OHI	New	OMEGA HEALTHCARE INVS INC COM	$2,544,000	–	77,020	–	0.24%	–
PG	New	PROCTER AND GAMBLE CO COM	$2,484,000	–	28,500	–	0.23%	–
EXR	New	EXTRA SPACE STORAGE INC COM	$2,468,000	–	31,633	–	0.23%	–
JBL	New	JABIL INC COM	$2,459,000	–	84,246	–	0.23%	–
ENS	New	ENERSYS COM	$2,457,000	–	33,909	–	0.23%	–
MA	New	MASTERCARD INCORPORATED CL Acl a	$2,463,000	–	20,277	–	0.23%	–
TCO	New	TAUBMAN CTRS INC COM	$2,452,000	–	41,188	–	0.23%	–
AEO	New	AMERICAN EAGLE OUTFITTERS NE COM	$2,414,000	–	200,300	–	0.23%	–
STAY	New	EXTENDED STAY AMER INC UNIT 99/99/9999Bunit 99/99/9999b	$2,406,000	–	124,288	–	0.23%	–
FRT	New	FEDERAL REALTY INVT TR SH BEN INT NEWsh ben int new	$2,372,000	–	18,765	–	0.22%	–
SYNA	New	SYNAPTICS INC COM	$2,362,000	–	45,678	–	0.22%	–
STOR	New	STORE CAP CORP COM	$2,344,000	–	104,425	–	0.22%	–
NNN	New	NATIONAL RETAIL PPTYS INC COM	$2,292,000	–	58,629	–	0.22%	–
AEL	New	AMERICAN EQTY INVT LIFE HLD COM	$2,192,000	–	83,393	–	0.21%	–
MAT	New	MATTEL INC COM	$2,166,000	–	100,599	–	0.20%	–
KALU	New	KAISER ALUMINUM CORP COM PAR $0.01	$2,155,000	–	24,347	–	0.20%	–
RLJ	New	RLJ LODGING TR COM	$2,098,000	–	105,572	–	0.20%	–
APLE	New	APPLE HOSPITALITY REIT INC COM NEW	$2,080,000	–	111,172	–	0.20%	–
ACC	New	AMERICAN CAMPUS CMNTYS INC COM	$2,077,000	–	43,906	–	0.20%	–
TECD	New	TECH DATA CORP COM	$2,065,000	–	20,441	–	0.20%	–
MRC	New	MRC GLOBAL INC COM	$2,047,000	–	123,890	–	0.19%	–
HIW	New	HIGHWOODS PPTYS INC COM	$1,927,000	–	37,992	–	0.18%	–
ELS	New	EQUITY LIFESTYLE PPTYS INC COM	$1,891,000	–	21,894	–	0.18%	–
INTC	New	INTEL CORP COM	$1,871,000	–	55,459	–	0.18%	–
WRI	New	WEINGARTEN RLTY INVS SH BEN INTsh ben int	$1,843,000	–	61,257	–	0.17%	–
EPR	New	EPR PPTYS COM SH BEN INTsh ben int	$1,825,000	–	25,399	–	0.17%	–
KRC	New	KILROY RLTY CORP COM	$1,827,000	–	24,313	–	0.17%	–
DEI	New	DOUGLAS EMMETT INC COM	$1,765,000	–	46,203	–	0.17%	–
GTLS	New	CHART INDS INC COM PAR $0.01	$1,745,000	–	50,248	–	0.16%	–
FCEA	New	FOREST CITY RLTY TR INC COM CL Acl a	$1,724,000	–	71,341	–	0.16%	–
HOPE	New	HOPE BANCORP INC COM	$1,700,000	–	91,173	–	0.16%	–
PDM	New	PIEDMONT OFFICE REALTY TR IN COM CL Acl a	$1,697,000	–	80,535	–	0.16%	–
LXP	New	LEXINGTON REALTY TRUST COM	$1,681,000	–	169,603	–	0.16%	–
CXP	New	COLUMBIA PPTY TR INC COM NEW	$1,691,000	–	75,557	–	0.16%	–
CLI	New	MACK CALI RLTY CORP COM	$1,651,000	–	60,808	–	0.16%	–
AHT	New	ASHFORD HOSPITALITY TR INC COM SHS	$1,641,000	–	269,984	–	0.16%	–
DRH	New	DIAMONDROCK HOSPITALITY CO COM	$1,642,000	–	149,996	–	0.16%	–
Q	New	QUINTILES IMS HOLDINGS INC COM	$1,635,000	–	18,270	–	0.15%	–
KRO	New	KRONOS WORLDWIDE INC COM	$1,611,000	–	88,441	–	0.15%	–
BDN	New	BRANDYWINE RLTY TR SH BEN INT NEWsh ben int new	$1,596,000	–	91,040	–	0.15%	–
OFC	New	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$1,562,000	–	44,592	–	0.15%	–
LQ	New	LA QUINTA HLDGS INC COM	$1,495,000	–	101,223	–	0.14%	–
ANF	New	ABERCROMBIE & FITCH CO CL Acl a	$1,471,000	–	118,264	–	0.14%	–
TEN	New	TENNECO INC COM	$1,464,000	–	25,308	–	0.14%	–
PGRE	New	PARAMOUNT GROUP INC COM	$1,440,000	–	89,968	–	0.14%	–
PSB	New	PS BUSINESS PKS INC CALIF COM	$1,362,000	–	10,286	–	0.13%	–
VREX	New	VAREX IMAGING CORP COM	$1,346,000	–	39,821	–	0.13%	–
HR	New	HEALTHCARE RLTY TR COM	$1,334,000	–	39,076	–	0.13%	–
SAFM	New	SANDERSON FARMS INC COM	$1,326,000	–	11,462	–	0.12%	–
AFG	New	AMERICAN FINL GROUP INC OHIO COM	$1,321,000	–	13,298	–	0.12%	–
WWW	New	WOLVERINE WORLD WIDE INC COM	$1,328,000	–	47,402	–	0.12%	–
MPW	New	MEDICAL PPTYS TRUST INC COM	$1,285,000	–	99,885	–	0.12%	–
V	New	VISA INC COM CL Acl a	$1,247,000	–	13,302	–	0.12%	–
VER	New	VEREIT INC COM	$1,245,000	–	152,951	–	0.12%	–
CUZ	New	COUSINS PPTYS INC COM	$1,239,000	–	140,971	–	0.12%	–
SKT	New	TANGER FACTORY OUTLET CTRS I COM	$1,228,000	–	47,237	–	0.12%	–
GPT	New	GRAMERCY PPTY TR COM NEW	$1,223,000	–	41,160	–	0.12%	–
PCLN	New	PRICELINE GRP INC COM NEW	$1,206,000	–	645	–	0.11%	–
DCT	New	DCT INDUSTRIAL TRUST INC COM NEW	$1,195,000	–	22,363	–	0.11%	–
FCH	New	FELCOR LODGING TR INC COM	$1,187,000	–	164,530	–	0.11%	–
QCP	New	QUALITY CARE PPTYS INC COM	$1,087,000	–	59,375	–	0.10%	–
GNCIQ	New	GNC HLDGS INC COM CL Acl a	$1,012,000	–	120,000	–	0.10%	–
CPLA	New	CAPELLA EDUCATION COMPANY COM	$839,000	–	9,807	–	0.08%	–
PRU	New	PRUDENTIAL FINL INC COM	$789,000	–	7,300	–	0.07%	–

Q4 2016

			Value		Shares		↓ Weighting
MRC	Exit	MRC GLOBAL INC COM	$0	–	-8,485	–	-0.02%	–
SAFM	Exit	SANDERSON FARMS INC COM	$0	–	-1,638	–	-0.02%	–
FINL	Exit	FINISH LINE INC CL Acl a	$0	–	-7,118	–	-0.02%	–
GNCIQ	Exit	GNC HLDGS INC COM CL Acl a	$0	–	-10,000	–	-0.03%	–
UBNT	Exit	UBIQUITI NETWORKS INC COM	$0	–	-4,578	–	-0.03%	–
	Exit	ABERCROMBIE & FITCH CO CL Acl a	$0	–	-16,193	–	-0.03%	–
GTLS	Exit	CHART INDS INC COM PAR $0.01par $0.01	$0	–	-7,681	–	-0.03%	–
KEX	Exit	KIRBY CORP COM	$0	–	-4,050	–	-0.03%	–
EVC	Exit	ENTRAVISION COMMUNICATIONS C CL Acl a	$0	–	-35,394	–	-0.04%	–
TKR	Exit	TIMKEN CO COM	$0	–	-7,585	–	-0.04%	–
WWW	Exit	WOLVERINE WORLD WIDE INC COM	$0	–	-12,548	–	-0.04%	–
	Exit	ARCTIC CAT INC COM	$0	–	-19,641	–	-0.04%	–
LHO	Exit	LASALLE HOTEL PPTYS COM SH BEN INTsh ben int	$0	–	-12,895	–	-0.04%	–
SYNA	Exit	SYNAPTICS INC COM	$0	–	-5,276	–	-0.04%	–
KALU	Exit	KAISER ALUMINUM CORP COM PAR $0.01par $0.01	$0	–	-3,648	–	-0.04%	–
ENS	Exit	ENERSYS COM	$0	–	-5,024	–	-0.04%	–
CPLA	Exit	CAPELLA EDUCATION COMPANY COM	$0	–	-6,454	–	-0.05%	–
	Exit	AMERICAN FINL GROUP INC OHIO COM	$0	–	-5,377	–	-0.05%	–
TECD	Exit	TECH DATA CORP COM	$0	–	-4,793	–	-0.05%	–
TRN	Exit	TRINITY INDS INC COM	$0	–	-17,265	–	-0.05%	–
LXFR	Exit	LUXFER HLDGS PLC SPONSORED ADRsponsored adr	$0	–	-38,200	–	-0.06%	–
LHCG	Exit	LHC GROUP INC COM	$0	–	-12,027	–	-0.06%	–
	Exit	AMERICAN EQTY INVT LIFE HLD COM	$0	–	-27,279	–	-0.06%	–
BC	Exit	BRUNSWICK CORP COM	$0	–	-9,974	–	-0.06%	–
SAVE	Exit	SPIRIT AIRLS INC COM	$0	–	-12,135	–	-0.07%	–
JBL	Exit	JABIL CIRCUIT INC COM	$0	–	-26,295	–	-0.07%	–
TER	Exit	TERADYNE INC COM	$0	–	-29,349	–	-0.08%	–
DFRG	Exit	DEL FRISCOS RESTAURANT GROUP COM	$0	–	-47,911	–	-0.08%	–
SCSS	Exit	SELECT COMFORT CORP COM	$0	–	-32,323	–	-0.09%	–
	Exit	AMERICAN ASSETS TR INC COM	$0	–	-16,079	–	-0.09%	–
HST	Exit	HOST HOTELS & RESORTS INC COM	$0	–	-45,651	–	-0.09%	–
STRA	Exit	STRAYER ED INC COM	$0	–	-15,662	–	-0.10%	–
FSLR	Exit	FIRST SOLAR INC COM	$0	–	-18,874	–	-0.10%	–
KRO	Exit	KRONOS WORLDWIDE INC COM	$0	–	-102,605	–	-0.11%	–
FCH	Exit	FELCOR LODGING TR INC COM	$0	–	-141,111	–	-0.12%	–
DFT	Exit	DUPONT FABROS TECHNOLOGY INC COM	$0	–	-22,127	–	-0.12%	–
UE	Exit	URBAN EDGE PPTYS COM	$0	–	-32,953	–	-0.12%	–
TDC	Exit	TERADATA CORP DEL COM	$0	–	-30,364	–	-0.12%	–
SYY	Exit	SYSCO CORP COM	$0	–	-19,300	–	-0.12%	–
MPW	Exit	MEDICAL PPTYS TRUST INC COM	$0	–	-69,084	–	-0.13%	–
GPT	Exit	GRAMERCY PPTY TR COM	$0	–	-106,633	–	-0.13%	–
PPS	Exit	POST PPTYS INC COM	$0	–	-15,768	–	-0.14%	–
EQY	Exit	EQUITY ONE COM	$0	–	-34,681	–	-0.14%	–
WRE	Exit	WASHINGTON REAL ESTATE INVT SH BEN INTsh ben int	$0	–	-33,880	–	-0.14%	–
CFR	Exit	CULLEN FROST BANKERS INC COM	$0	–	-15,050	–	-0.14%	–
DCT	Exit	DCT INDUSTRIAL TRUST INC COM NEW	$0	–	-22,346	–	-0.14%	–
DRH	Exit	DIAMONDROCK HOSPITALITY CO COM	$0	–	-121,859	–	-0.14%	–
SRC	Exit	SPIRIT RLTY CAP INC NEW COM	$0	–	-83,915	–	-0.14%	–
LQ	Exit	LA QUINTA HLDGS INC COM	$0	–	-102,689	–	-0.15%	–
SKT	Exit	TANGER FACTORY OUTLET CTRS I COM	$0	–	-29,842	–	-0.15%	–
SE	Exit	SPECTRA ENERGY CORP COM	$0	–	-27,277	–	-0.15%	–
HR	Exit	HEALTHCARE RLTY TR COM	$0	–	-34,878	–	-0.15%	–
PGRE	Exit	PARAMOUNT GROUP INC COM	$0	–	-73,013	–	-0.16%	–
SUI	Exit	SUN CMNTYS INC COM	$0	–	-15,891	–	-0.16%	–
EGP	Exit	EASTGROUP PPTY INC COM	$0	–	-17,186	–	-0.16%	–
PSB	Exit	PS BUSINESS PKS INC CALIF COM	$0	–	-11,945	–	-0.18%	–
EXR	Exit	EXTRA SPACE STORAGE INC COM	$0	–	-17,145	–	-0.18%	–
	Exit	ASHFORD HOSPITALITY TR INC COM SHS	$0	–	-235,649	–	-0.18%	–
OFC	Exit	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$0	–	-49,735	–	-0.18%	–
BDN	Exit	BRANDYWINE RLTY TR SH BEN INT NEWsh ben int new	$0	–	-93,664	–	-0.19%	–
LXP	Exit	LEXINGTON REALTY TRUST COM	$0	–	-147,554	–	-0.20%	–
NOV	Exit	NATIONAL OILWELL VARCO INC COM	$0	–	-42,350	–	-0.20%	–
ELS	Exit	EQUITY LIFESTYLE PPTYS INC COM	$0	–	-20,368	–	-0.20%	–
RLJ	Exit	RLJ LODGING TR COM	$0	–	-77,515	–	-0.21%	–
CUBE	Exit	CUBESMART COM	$0	–	-59,770	–	-0.21%	–
DEI	Exit	DOUGLAS EMMETT INC COM	$0	–	-44,733	–	-0.21%	–
EPR	Exit	EPR PPTYS COM SH BEN INTsh ben int	$0	–	-20,873	–	-0.21%	–
JNJ	Exit	JOHNSON & JOHNSON COM	$0	–	-14,000	–	-0.21%	–
FCEA	Exit	FOREST CITY RLTY TR INC COM CL Acl a	$0	–	-72,769	–	-0.22%	–
CXP	Exit	COLUMBIA PPTY TR INC COM NEW	$0	–	-77,436	–	-0.22%	–
CLI	Exit	MACK CALI RLTY CORP COM	$0	–	-64,456	–	-0.23%	–
WRI	Exit	WEINGARTEN RLTY INVS SH BEN INTsh ben int	$0	–	-45,377	–	-0.23%	–
	Exit	AMERICAN CAMPUS CMNTYS INC COM	$0	–	-34,831	–	-0.23%	–
PG	Exit	PROCTER AND GAMBLE CO COM	$0	–	-20,100	–	-0.23%	–
WPC	Exit	W P CAREY INC COM	$0	–	-28,234	–	-0.24%	–
MRK	Exit	MERCK & CO INC COM	$0	–	-29,250	–	-0.24%	–
PDM	Exit	PIEDMONT OFFICE REALTY TR IN COM CL Acl a	$0	–	-83,610	–	-0.24%	–
STAY	Exit	EXTENDED STAY AMER INC UNIT 99/99/9999Bunit 99/99/9999b	$0	–	-128,947	–	-0.24%	–
HIW	Exit	HIGHWOODS PPTYS INC COM	$0	–	-35,293	–	-0.24%	–
INTC	Exit	INTEL CORP COM	$0	–	-49,500	–	-0.24%	–
OHI	Exit	OMEGA HEALTHCARE INVS INC COM	$0	–	-57,982	–	-0.27%	–
FRT	Exit	FEDERAL REALTY INVT TR SH BEN INT NEWsh ben int new	$0	–	-13,420	–	-0.27%	–
MAA	Exit	MID-AMER APT CMNTYS INC COM	$0	–	-22,518	–	-0.27%	–
DDR	Exit	DDR CORP COM	$0	–	-130,022	–	-0.29%	–
REG	Exit	REGENCY CTRS CORP COM	$0	–	-32,699	–	-0.33%	–
TCO	Exit	TAUBMAN CTRS INC COM	$0	–	-34,973	–	-0.34%	–
VER	Exit	VEREIT INC COM	$0	–	-255,857	–	-0.34%	–
LPT	Exit	LIBERTY PPTY TR SH BEN INTsh ben int	$0	–	-67,789	–	-0.35%	–
CBLAQ	Exit	CBL & ASSOC PPTYS INC COM	$0	–	-227,824	–	-0.36%	–
BRX	Exit	BRIXMOR PPTY GROUP INC COM	$0	–	-101,930	–	-0.37%	–
AIV	Exit	APARTMENT INVT & MGMT CO CL Acl a	$0	–	-62,205	–	-0.37%	–
SNH	Exit	SENIOR HSG PPTYS TR SH BEN INTsh ben int	$0	–	-135,632	–	-0.40%	–
EQC	Exit	EQUITY COMWLTH COM SH BEN INTsh ben int	$0	–	-102,525	–	-0.40%	–
DRE	Exit	DUKE REALTY CORP COM NEW	$0	–	-114,324	–	-0.40%	–
HTA	Exit	HEALTHCARE TR AMER INC CL A NEWcl a new	$0	–	-96,777	–	-0.41%	–
O	Exit	REALTY INCOME CORP COM	$0	–	-49,693	–	-0.43%	–
SLG	Exit	SL GREEN RLTY CORP COM	$0	–	-31,959	–	-0.45%	–
KRC	Exit	KILROY RLTY CORP COM	$0	–	-50,845	–	-0.46%	–
NNN	Exit	NATIONAL RETAIL PPTYS INC COM	$0	–	-69,853	–	-0.46%	–
KIM	Exit	KIMCO RLTY CORP COM	$0	–	-133,004	–	-0.50%	–
MAC	Exit	MACERICH CO COM	$0	–	-52,522	–	-0.55%	–
	Exit	ALEXANDRIA REAL ESTATE EQ IN COM	$0	–	-39,165	–	-0.55%	–
DLR	Exit	DIGITAL RLTY TR INC COM	$0	–	-45,147	–	-0.57%	–
ESS	Exit	ESSEX PPTY TR INC COM	$0	–	-19,774	–	-0.57%	–
	Exit	AVALONBAY CMNTYS INC COM	$0	–	-32,555	–	-0.75%	–
VNO	Exit	VORNADO RLTY TR SH BEN INTsh ben int	$0	–	-72,852	–	-0.96%	–
VTR	Exit	VENTAS INC COM	$0	–	-107,597	–	-0.98%	–
PSA	Exit	PUBLIC STORAGE COM	$0	–	-34,751	–	-1.00%	–
GGP	Exit	GENERAL GROWTH PPTYS INC NEW COM	$0	–	-288,047	–	-1.03%	–
WELL	Exit	WELLTOWER INC COM	$0	–	-114,304	–	-1.11%	–
HCP	Exit	HCP INC COM	$0	–	-229,288	–	-1.13%	–
PLD	Exit	PROLOGIS INC COM	$0	–	-168,272	–	-1.17%	–
BXP	Exit	BOSTON PROPERTIES INC COM	$0	–	-67,271	–	-1.19%	–
PM	Exit	PHILIP MORRIS INTL INC COM	$0	–	-107,730	–	-1.36%	–
RWT	Exit	REDWOOD TR INC COM	$0	–	-741,484	–	-1.36%	–
EQR	Exit	EQUITY RESIDENTIAL SH BEN INTsh ben int	$0	–	-166,814	–	-1.39%	–
KKR	Exit	KKR & CO L P DEL COM UNITSunits	$0	–	-759,198	–	-1.40%	–
PRU	Exit	PRUDENTIAL FINL INC COM	$0	–	-151,797	–	-1.61%	–
PBF	Exit	PBF ENERGY INC CL Acl a	$0	–	-574,128	–	-1.68%	–
RPAI	Exit	RETAIL PPTYS AMER INC CL Acl a	$0	–	-850,421	–	-1.85%	–
WFC	Exit	WELLS FARGO & CO NEW COM	$0	–	-428,600	–	-2.46%	–
VLO	Exit	VALERO ENERGY CORP NEW COM	$0	–	-361,371	–	-2.48%	–
SPG	Exit	SIMON PPTY GROUP INC NEW COM	$0	–	-94,342	–	-2.53%	–
PEG	Exit	PUBLIC SVC ENTERPRISE GROUP COM	$0	–	-468,426	–	-2.54%	–
ARCC	Exit	ARES CAP CORP COM	$0	–	-1,280,775	–	-2.57%	–
ABBV	Exit	ABBVIE INC COM	$0	–	-315,350	–	-2.58%	–
GM	Exit	GENERAL MTRS CO COM	$0	–	-630,480	–	-2.60%	–
POT	Exit	POTASH CORP SASK INC COM	$0	–	-1,251,854	–	-2.65%	–
PKX	Exit	POSCO SPONSORED ADRsponsored adr	$0	–	-407,424	–	-2.70%	–
MAT	Exit	MATTEL INC COM	$0	–	-692,921	–	-2.72%	–
TWO	Exit	TWO HBRS INVT CORP COM	$0	–	-2,486,012	–	-2.75%	–
NYCB	Exit	NEW YORK CMNTY BANCORP INC COM	$0	–	-1,509,132	–	-2.78%	–
CPT	Exit	CAMDEN PPTY TR SH BEN INTsh ben int	$0	–	-256,850	–	-2.79%	–
VIV	Exit	TELEFONICA BRASIL SA SPONSORED ADRsponsored adr	$0	–	-1,502,974	–	-2.82%	–
WNR	Exit	WESTERN REFNG INC COM	$0	–	-822,141	–	-2.82%	–
VZ	Exit	VERIZON COMMUNICATIONS INC COM	$0	–	-420,105	–	-2.83%	–
PFG	Exit	PRINCIPAL FINL GROUP INC COM	$0	–	-430,502	–	-2.87%	–
CSCO	Exit	CISCO SYS INC COM	$0	–	-700,024	–	-2.88%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADRsponsored adr	$0	–	-731,560	–	-2.90%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS COM	$0	–	-142,032	–	-2.92%	–
UDR	Exit	UDR INC COM	$0	–	-628,565	–	-2.93%	–
QCOM	Exit	QUALCOMM INC COM	$0	–	-346,686	–	-3.08%	–

Q3 2016

			Value		Shares		↓ Weighting
QCOM	Sell	QUALCOMM INC COM	$23,748,000	+11.8%	346,686	-12.6%	3.08%	+23.1%
UDR	Buy	UDR INC COM	$22,622,000	-0.5%	628,565	+2.1%	2.93%	+9.6%
IBM	Buy	INTERNATIONAL BUSINESS MACHS COM	$22,563,000	+5.3%	142,032	+0.6%	2.92%	+16.0%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADRsponsored adr	$22,378,000	+4.8%	731,560	-10.2%	2.90%	+15.4%
CSCO	Sell	CISCO SYS INC COM	$22,205,000	+4.4%	700,024	-5.6%	2.88%	+15.0%
PFG	Buy	PRINCIPAL FINL GROUP INC COM	$22,175,000	+85.6%	430,502	+48.1%	2.87%	+104.3%
VZ	Buy	VERIZON COMMUNICATIONS INC COM	$21,837,000	+5.1%	420,105	+12.9%	2.83%	+15.7%
WNR	Sell	WESTERN REFNG INC COM	$21,754,000	-6.6%	822,141	-27.2%	2.82%	+2.8%
VIV	Sell	TELEFONICA BRASIL SA SPONSORED ADRsponsored adr	$21,748,000	-4.9%	1,502,974	-10.6%	2.82%	+4.8%
CPT	Buy	CAMDEN PPTY TR SH BEN INTsh ben int	$21,509,000	-2.8%	256,850	+2.6%	2.79%	+7.0%
NYCB	Buy	NEW YORK CMNTY BANCORP INC COM	$21,475,000	+2.3%	1,509,132	+7.7%	2.78%	+12.6%
TWO	Buy	TWO HBRS INVT CORP COM	$21,205,000	+3.6%	2,486,012	+3.9%	2.75%	+14.0%
MAT	Buy	MATTEL INC COM	$20,982,000	-2.6%	692,921	+0.6%	2.72%	+7.2%
PKX	Sell	POSCO SPONSORED ADRsponsored adr	$20,811,000	+2.0%	407,424	-11.2%	2.70%	+12.3%
POT	Buy	POTASH CORP SASK INC COM	$20,430,000	+7.2%	1,251,854	+6.7%	2.65%	+18.1%
GM	Sell	GENERAL MTRS CO COM	$20,030,000	+5.3%	630,480	-6.2%	2.60%	+16.0%
ABBV	New	ABBVIE INC COM	$19,889,000	–	315,350	–	2.58%	–
ARCC	Sell	ARES CAP CORP COM	$19,852,000	+3.0%	1,280,775	-5.7%	2.57%	+13.4%
PEG	Buy	PUBLIC SVC ENTERPRISE GROUP COM	$19,613,000	-0.7%	468,426	+10.5%	2.54%	+9.3%
SPG	Sell	SIMON PPTY GROUP INC NEW COM	$19,530,000	-9.7%	94,342	-5.4%	2.53%	-0.6%
VLO	Sell	VALERO ENERGY CORP NEW COM	$19,153,000	+3.2%	361,371	-0.7%	2.48%	+13.5%
WFC	New	WELLS FARGO & CO NEW COM	$18,979,000	–	428,600	–	2.46%	–
RPAI	Buy	RETAIL PPTYS AMER INC CL Acl a	$14,287,000	+7.1%	850,421	+7.7%	1.85%	+17.9%
PBF	Buy	PBF ENERGY INC CL Acl a	$12,997,000	+7.3%	574,128	+12.7%	1.68%	+18.2%
PRU	Sell	PRUDENTIAL FINL INC COM	$12,394,000	+8.5%	151,797	-5.2%	1.61%	+19.5%
KKR	Sell	KKR & CO L P DEL COM UNITSunits	$10,826,000	+13.5%	759,198	-1.8%	1.40%	+25.0%
EQR	Buy	EQUITY RESIDENTIAL SH BEN INTsh ben int	$10,732,000	-2.3%	166,814	+4.6%	1.39%	+7.6%
PM	Buy	PHILIP MORRIS INTL INC COM	$10,474,000	+2.9%	107,730	+7.7%	1.36%	+13.4%
BXP	Sell	BOSTON PROPERTIES INC COM	$9,167,000	-2.8%	67,271	-5.9%	1.19%	+7.0%
PLD	Sell	PROLOGIS INC COM	$9,010,000	+2.6%	168,272	-6.0%	1.17%	+13.0%
HCP	Sell	HCP INC COM	$8,702,000	-0.1%	229,288	-6.9%	1.13%	+10.0%
WELL	Sell	WELLTOWER INC COM	$8,547,000	-8.7%	114,304	-7.0%	1.11%	+0.5%
GGP	Sell	GENERAL GROWTH PPTYS INC NEW COM	$7,951,000	-13.4%	288,047	-6.5%	1.03%	-4.6%
PSA	Sell	PUBLIC STORAGE COM	$7,755,000	-18.8%	34,751	-7.0%	1.00%	-10.6%
VTR	Sell	VENTAS INC COM	$7,599,000	-10.0%	107,597	-7.2%	0.98%	-0.8%
VNO	Sell	VORNADO RLTY TR SH BEN INTsh ben int	$7,374,000	-6.9%	72,852	-7.9%	0.96%	+2.6%
	Sell	AVALONBAY CMNTYS INC COM	$5,790,000	-12.0%	32,555	-10.8%	0.75%	-3.1%
ESS	Buy	ESSEX PPTY TR INC COM	$4,403,000	+3.0%	19,774	+5.5%	0.57%	+13.3%
DLR	Sell	DIGITAL RLTY TR INC COM	$4,385,000	-17.3%	45,147	-7.2%	0.57%	-9.0%
	Sell	ALEXANDRIA REAL ESTATE EQ IN COM	$4,260,000	+0.7%	39,165	-4.1%	0.55%	+10.8%
MAC	Sell	MACERICH CO COM	$4,248,000	-12.0%	52,522	-7.1%	0.55%	-3.2%
KIM	Sell	KIMCO RLTY CORP COM	$3,851,000	-14.5%	133,004	-7.3%	0.50%	-5.8%
NNN	Sell	NATIONAL RETAIL PPTYS INC COM	$3,552,000	-5.8%	69,853	-4.2%	0.46%	+3.6%
KRC	Buy	KILROY RLTY CORP COM	$3,526,000	+58.0%	50,845	+51.0%	0.46%	+73.8%
SLG	Sell	SL GREEN RLTY CORP COM	$3,455,000	-6.1%	31,959	-7.6%	0.45%	+3.5%
O	Sell	REALTY INCOME CORP COM	$3,326,000	-10.7%	49,693	-7.5%	0.43%	-1.6%
HTA	Sell	HEALTHCARE TR AMER INC CL A NEWcl a new	$3,157,000	-2.1%	96,777	-3.0%	0.41%	+7.9%
DRE	Sell	DUKE REALTY CORP COM NEW	$3,124,000	-5.4%	114,324	-7.8%	0.40%	+4.1%
EQC	Sell	EQUITY COMWLTH COM SH BEN INTsh ben int	$3,098,000	-14.9%	102,525	-18.0%	0.40%	-6.3%
SNH	Sell	SENIOR HSG PPTYS TR SH BEN INTsh ben int	$3,080,000	+1.5%	135,632	-6.9%	0.40%	+11.8%
AIV	Sell	APARTMENT INVT & MGMT CO CL Acl a	$2,856,000	-3.1%	62,205	-6.8%	0.37%	+6.6%
BRX	Sell	BRIXMOR PPTY GROUP INC COM	$2,832,000	-3.1%	101,930	-7.7%	0.37%	+6.7%
CBLAQ	Sell	CBL & ASSOC PPTYS INC COM	$2,766,000	+21.6%	227,824	-6.8%	0.36%	+33.6%
LPT	Sell	LIBERTY PPTY TR SH BEN INTsh ben int	$2,735,000	-5.9%	67,789	-7.3%	0.35%	+3.5%
VER	Sell	VEREIT INC COM	$2,653,000	-5.2%	255,857	-7.3%	0.34%	+4.6%
TCO	Sell	TAUBMAN CTRS INC COM	$2,603,000	-6.7%	34,973	-7.0%	0.34%	+2.7%
REG	Sell	REGENCY CTRS CORP COM	$2,533,000	-9.1%	32,699	-1.7%	0.33%	0.0%
DDR	Sell	DDR CORP COM	$2,267,000	-11.2%	130,022	-7.6%	0.29%	-2.0%
MAA	Sell	MID-AMER APT CMNTYS INC COM	$2,116,000	-18.8%	22,518	-8.1%	0.27%	-10.7%
FRT	Sell	FEDERAL REALTY INVT TR SH BEN INT NEWsh ben int new	$2,066,000	-14.5%	13,420	-8.1%	0.27%	-5.6%
OHI	Sell	OMEGA HEALTHCARE INVS INC COM	$2,056,000	-3.2%	57,982	-7.3%	0.27%	+6.4%
INTC	Buy	INTEL CORP COM	$1,869,000	+22.6%	49,500	+6.5%	0.24%	+35.2%
HIW	Sell	HIGHWOODS PPTYS INC COM	$1,839,000	-8.8%	35,293	-7.6%	0.24%	+0.4%
STAY	Sell	EXTENDED STAY AMER INC UNIT 99/99/9999Bunit 99/99/9999b	$1,831,000	-11.1%	128,947	-6.4%	0.24%	-2.1%
PDM	Sell	PIEDMONT OFFICE REALTY TR IN COM CL Acl a	$1,821,000	-6.2%	83,610	-7.3%	0.24%	+3.5%
WPC	Sell	W P CAREY INC COM	$1,821,000	-14.3%	28,234	-7.7%	0.24%	-5.6%
MRK	Sell	MERCK & CO INC COM	$1,825,000	-91.3%	29,250	-92.0%	0.24%	-90.5%
PG	Sell	PROCTER AND GAMBLE CO COM	$1,804,000	-91.5%	20,100	-91.9%	0.23%	-90.6%
	Sell	AMERICAN CAMPUS CMNTYS INC COM	$1,772,000	-10.9%	34,831	-7.4%	0.23%	-1.7%
WRI	Sell	WEINGARTEN RLTY INVS SH BEN INTsh ben int	$1,769,000	-34.7%	45,377	-31.7%	0.23%	-28.2%
CLI	Sell	MACK CALI RLTY CORP COM	$1,755,000	-7.3%	64,456	-8.1%	0.23%	+1.8%
CXP	Sell	COLUMBIA PPTY TR INC COM NEW	$1,733,000	-2.4%	77,436	-6.7%	0.22%	+7.7%
FCEA	Sell	FOREST CITY RLTY TR INC COM CL Acl a	$1,683,000	-4.2%	72,769	-7.6%	0.22%	+5.3%
JNJ	Buy	JOHNSON & JOHNSON COM	$1,654,000	+8.2%	14,000	+11.1%	0.21%	+18.9%
EPR	New	EPR PPTYS COM SH BEN INTsh ben int	$1,644,000	–	20,873	–	0.21%	–
DEI	Sell	DOUGLAS EMMETT INC COM	$1,639,000	-33.2%	44,733	-35.3%	0.21%	-26.6%
RLJ	Sell	RLJ LODGING TR COM	$1,630,000	-8.4%	77,515	-6.6%	0.21%	+1.0%
ELS	Sell	EQUITY LIFESTYLE PPTYS INC COM	$1,572,000	-11.4%	20,368	-8.1%	0.20%	-2.4%
NOV	Buy	NATIONAL OILWELL VARCO INC COM	$1,556,000	+95.5%	42,350	+79.1%	0.20%	+114.9%
LXP	Sell	LEXINGTON REALTY TRUST COM	$1,520,000	-5.2%	147,554	-7.0%	0.20%	+4.2%
BDN	Sell	BRANDYWINE RLTY TR SH BEN INT NEWsh ben int new	$1,463,000	-14.4%	93,664	-7.9%	0.19%	-5.5%
OFC	Sell	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$1,410,000	-12.5%	49,735	-8.7%	0.18%	-3.7%
	Sell	ASHFORD HOSPITALITY TR INC COM SHS	$1,388,000	+2.2%	235,649	-6.8%	0.18%	+12.5%
EXR	Sell	EXTRA SPACE STORAGE INC COM	$1,362,000	-20.8%	17,145	-7.7%	0.18%	-12.9%
PSB	Sell	PS BUSINESS PKS INC CALIF COM	$1,357,000	-1.6%	11,945	-8.1%	0.18%	+8.6%
EGP	Buy	EASTGROUP PPTY INC COM	$1,264,000	+6.9%	17,186	+0.2%	0.16%	+18.0%
SUI	Sell	SUN CMNTYS INC COM	$1,247,000	-6.5%	15,891	-8.7%	0.16%	+3.2%
PGRE	Sell	PARAMOUNT GROUP INC COM	$1,197,000	-5.3%	73,013	-7.9%	0.16%	+4.0%
HR	Sell	HEALTHCARE RLTY TR COM	$1,188,000	-10.4%	34,878	-8.0%	0.15%	-1.3%
SKT	Sell	TANGER FACTORY OUTLET CTRS I COM	$1,163,000	-10.4%	29,842	-7.6%	0.15%	-1.3%
SE	Buy	SPECTRA ENERGY CORP COM	$1,166,000	+28.0%	27,277	+9.6%	0.15%	+41.1%
LQ	Sell	LA QUINTA HLDGS INC COM	$1,148,000	-10.6%	102,689	-8.8%	0.15%	-1.3%
DRH	Buy	DIAMONDROCK HOSPITALITY CO COM	$1,109,000	+107.3%	121,859	+105.6%	0.14%	+128.6%
DCT	Sell	DCT INDUSTRIAL TRUST INC COM NEW	$1,084,000	-8.4%	22,346	-9.4%	0.14%	+0.7%
CFR	Sell	CULLEN FROST BANKERS INC COM	$1,083,000	-94.9%	15,050	-95.5%	0.14%	-94.5%
EQY	Sell	EQUITY ONE COM	$1,061,000	-13.5%	34,681	-9.0%	0.14%	-4.9%
WRE	Sell	WASHINGTON REAL ESTATE INVT SH BEN INTsh ben int	$1,054,000	-8.7%	33,880	-7.7%	0.14%	+0.7%
PPS	Sell	POST PPTYS INC COM	$1,043,000	-0.9%	15,768	-8.5%	0.14%	+8.9%
GPT	Sell	GRAMERCY PPTY TR COM	$1,028,000	-4.4%	106,633	-8.6%	0.13%	+5.6%
MPW	Sell	MEDICAL PPTYS TRUST INC COM	$1,020,000	-9.2%	69,084	-6.4%	0.13%	0.0%
SYY	Buy	SYSCO CORP COM	$946,000	+7.1%	19,300	+10.9%	0.12%	+18.3%
TDC	Buy	TERADATA CORP DEL COM	$941,000	+45.9%	30,364	+18.0%	0.12%	+60.5%
UE	Sell	URBAN EDGE PPTYS COM	$928,000	-14.2%	32,953	-9.1%	0.12%	-5.5%
DFT	Sell	DUPONT FABROS TECHNOLOGY INC COM	$912,000	-21.4%	22,127	-9.3%	0.12%	-13.2%
FCH	Sell	FELCOR LODGING TR INC COM	$907,000	-4.8%	141,111	-7.7%	0.12%	+5.4%
KRO	Sell	KRONOS WORLDWIDE INC COM	$851,000	+41.8%	102,605	-10.2%	0.11%	+54.9%
FSLR	Buy	FIRST SOLAR INC COM	$745,000	+2.2%	18,874	+25.6%	0.10%	+12.8%
STRA	Buy	STRAYER ED INC COM	$731,000	+28.2%	15,662	+35.1%	0.10%	+41.8%
	Buy	AMERICAN ASSETS TR INC COM	$698,000	+129.6%	16,079	+124.5%	0.09%	+150.0%
DFRG	Buy	DEL FRISCOS RESTAURANT GROUP COM	$645,000	+12.0%	47,911	+19.1%	0.08%	+23.5%
TER	Buy	TERADYNE INC COM	$633,000	+25.8%	29,349	+14.9%	0.08%	+39.0%
SAVE	Buy	SPIRIT AIRLS INC COM	$516,000	+63.3%	12,135	+72.5%	0.07%	+81.1%
BC	Buy	BRUNSWICK CORP COM	$487,000	+35.3%	9,974	+25.5%	0.06%	+50.0%
LHCG	Buy	LHC GROUP INC COM	$444,000	-8.8%	12,027	+6.8%	0.06%	+1.8%
LXFR	Buy	LUXFER HLDGS PLC SPONSORED ADRsponsored adr	$443,000	+33.4%	38,200	+38.4%	0.06%	+46.2%
TRN	Buy	TRINITY INDS INC COM	$417,000	+66.8%	17,265	+28.2%	0.05%	+86.2%
TECD	Buy	TECH DATA CORP COM	$406,000	+67.1%	4,793	+41.7%	0.05%	+82.8%
	Buy	AMERICAN FINL GROUP INC OHIO COM	$403,000	+53.8%	5,377	+51.6%	0.05%	+67.7%
CPLA	Buy	CAPELLA EDUCATION COMPANY COM	$375,000	+33.0%	6,454	+20.5%	0.05%	+48.5%
KALU	Buy	KAISER ALUMINUM CORP COM PAR $0.01par $0.01	$316,000	+17.5%	3,648	+22.5%	0.04%	+28.1%
SYNA	Buy	SYNAPTICS INC COM	$309,000	+108.8%	5,276	+91.9%	0.04%	+135.3%
LHO	Sell	LASALLE HOTEL PPTYS COM SH BEN INTsh ben int	$308,000	-97.3%	12,895	-97.4%	0.04%	-97.1%
	Buy	ARCTIC CAT INC COM	$304,000	+17.8%	19,641	+29.4%	0.04%	+30.0%
WWW	Sell	WOLVERINE WORLD WIDE INC COM	$289,000	+3.6%	12,548	-8.6%	0.04%	+12.1%
EVC	Sell	ENTRAVISION COMMUNICATIONS C CL Acl a	$270,000	-30.1%	35,394	-38.3%	0.04%	-22.2%
GTLS	Sell	CHART INDS INC COM PAR $0.01par $0.01	$252,000	-20.3%	7,681	-41.3%	0.03%	-10.8%
KEX	New	KIRBY CORP COM	$252,000	–	4,050	–	0.03%	–
UBNT	Sell	UBIQUITI NETWORKS INC COM	$245,000	-0.8%	4,578	-28.2%	0.03%	+10.3%
GNCIQ	New	GNC HLDGS INC COM CL Acl a	$204,000	–	10,000	–	0.03%	–
FINL	Sell	FINISH LINE INC CL Acl a	$164,000	-18.0%	7,118	-28.2%	0.02%	-12.5%
SAFM	Buy	SANDERSON FARMS INC COM	$158,000	+90.4%	1,638	+70.3%	0.02%	+100.0%
AEO	Exit	AMERICAN EAGLE OUTFITTERS NE COM	$0	–	-12,179	–	-0.02%	–
SGNT	Exit	SAGENT PHARMACEUTICALS INC COM	$0	–	-20,219	–	-0.04%	–
IM	Exit	INGRAM MICRO INC CL Acl a	$0	–	-8,812	–	-0.04%	–
WIBC	Exit	WILSHIRE BANCORP INC COM	$0	–	-35,032	–	-0.04%	–
MXIM	Exit	MAXIM INTEGRATED PRODS INC COM	$0	–	-22,250	–	-0.09%	–
WPG	Exit	WP GLIMCHER IN COM	$0	–	-350,558	–	-0.46%	–
PHI	Exit	PHILIPPINE LONG DISTANCE TEL SPONSORED ADRsponsored adr	$0	–	-230,500	–	-1.21%	–
HWC	Exit	HANCOCK HLDG CO COM	$0	–	-419,400	–	-1.29%	–
TAL	Exit	TAL INTL GROUP INC COM	$0	–	-819,402	–	-1.29%	–
UMPQ	Exit	UMPQUA HLDGS CORP COM	$0	–	-1,286,336	–	-2.34%	–

Q2 2016

			Value		Shares		↓ Weighting
WNR	New	WESTERN REFNG INC COM	$23,285,000	–	1,128,749	–	2.74%	–
VIV	New	TELEFONICA BRASIL SA SPONSORED ADRsponsored adr	$22,867,000	–	1,681,424	–	2.69%	–
UDR	New	UDR INC COM	$22,738,000	–	615,844	–	2.68%	–
CPT	New	CAMDEN PPTY TR SH BEN INTsh ben int	$22,129,000	–	250,277	–	2.60%	–
SPG	New	SIMON PPTY GROUP INC NEW COM	$21,626,000	–	99,712	–	2.54%	–
MAT	New	MATTEL INC COM	$21,547,000	–	688,621	–	2.54%	–
CFR	New	CULLEN FROST BANKERS INC COM	$21,444,000	–	336,477	–	2.52%	–
IBM	New	INTERNATIONAL BUSINESS MACHS COM	$21,422,000	–	141,132	–	2.52%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADRsponsored adr	$21,358,000	–	814,260	–	2.51%	–
CSCO	New	CISCO SYS INC COM	$21,267,000	–	741,274	–	2.50%	–
QCOM	New	QUALCOMM INC COM	$21,242,000	–	396,536	–	2.50%	–
PG	New	PROCTER & GAMBLE CO COM	$21,116,000	–	249,400	–	2.48%	–
MRK	New	MERCK & CO INC COM	$21,084,000	–	365,980	–	2.48%	–
NYCB	New	NEW YORK CMNTY BANCORP INC COM	$20,997,000	–	1,400,732	–	2.47%	–
VZ	New	VERIZON COMMUNICATIONS INC COM	$20,779,000	–	372,105	–	2.44%	–
TWO	New	TWO HBRS INVT CORP COM	$20,475,000	–	2,391,912	–	2.41%	–
PKX	New	POSCO SPONSORED ADRsponsored adr	$20,409,000	–	458,624	–	2.40%	–
UMPQ	New	UMPQUA HLDGS CORP COM	$19,899,000	–	1,286,336	–	2.34%	–
PEG	New	PUBLIC SVC ENTERPRISE GROUP COM	$19,757,000	–	423,876	–	2.32%	–
ARCC	New	ARES CAP CORP COM	$19,277,000	–	1,357,575	–	2.27%	–
POT	New	POTASH CORP SASK INC COM	$19,051,000	–	1,173,054	–	2.24%	–
GM	New	GENERAL MTRS CO COM	$19,018,000	–	672,030	–	2.24%	–
VLO	New	VALERO ENERGY CORP NEW COM	$18,568,000	–	364,071	–	2.18%	–
RPAI	New	RETAIL PPTYS AMER INC CL Acl a	$13,346,000	–	789,680	–	1.57%	–
PBF	New	PBF ENERGY INC CL Acl a	$12,111,000	–	509,324	–	1.42%	–
PFG	New	PRINCIPAL FINL GROUP INC COM	$11,949,000	–	290,652	–	1.41%	–
LHO	New	LASALLE HOTEL PPTYS COM SH BEN INTsh ben int	$11,551,000	–	489,846	–	1.36%	–
PRU	New	PRUDENTIAL FINL INC COM	$11,421,000	–	160,097	–	1.34%	–
TAL	New	TAL INTL GROUP INC COM	$10,988,000	–	819,402	–	1.29%	–
EQR	New	EQUITY RESIDENTIAL SH BEN INTsh ben int	$10,981,000	–	159,422	–	1.29%	–
HWC	New	HANCOCK HLDG CO COM	$10,950,000	–	419,400	–	1.29%	–
PHI	New	PHILIPPINE LONG DISTANCE TEL SPONSORED ADRsponsored adr	$10,274,000	–	230,500	–	1.21%	–
RWT	New	REDWOOD TR INC COM	$10,240,000	–	741,484	–	1.20%	–
PM	New	PHILIP MORRIS INTL INC COM	$10,175,000	–	100,030	–	1.20%	–
PSA	New	PUBLIC STORAGE COM	$9,553,000	–	37,378	–	1.12%	–
KKR	New	KKR & CO L P DEL COM UNITSunits	$9,540,000	–	773,098	–	1.12%	–
BXP	New	BOSTON PROPERTIES INC COM	$9,431,000	–	71,504	–	1.11%	–
WELL	New	WELLTOWER INC COM	$9,366,000	–	122,962	–	1.10%	–
GGP	New	GENERAL GROWTH PPTYS INC NEW COM	$9,183,000	–	307,934	–	1.08%	–
PLD	New	PROLOGIS INC COM	$8,778,000	–	178,981	–	1.03%	–
HCP	New	HCP INC COM	$8,711,000	–	246,176	–	1.02%	–
VTR	New	VENTAS INC COM	$8,444,000	–	115,963	–	0.99%	–
VNO	New	VORNADO RLTY TR SH BEN INTsh ben int	$7,917,000	–	79,080	–	0.93%	–
	New	AVALONBAY CMNTYS INC COM	$6,581,000	–	36,480	–	0.77%	–
DLR	New	DIGITAL RLTY TR INC COM	$5,303,000	–	48,665	–	0.62%	–
MAC	New	MACERICH CO COM	$4,828,000	–	56,537	–	0.57%	–
KIM	New	KIMCO RLTY CORP COM	$4,504,000	–	143,522	–	0.53%	–
ESS	New	ESSEX PPTY TR INC COM	$4,276,000	–	18,746	–	0.50%	–
	New	ALEXANDRIA REAL ESTATE EQ IN COM	$4,230,000	–	40,851	–	0.50%	–
WPG	New	WP GLIMCHER IN COM	$3,923,000	–	350,558	–	0.46%	–
NNN	New	NATIONAL RETAIL PPTYS INC COM	$3,770,000	–	72,890	–	0.44%	–
O	New	REALTY INCOME CORP COM	$3,725,000	–	53,696	–	0.44%	–
SLG	New	SL GREEN RLTY CORP COM	$3,681,000	–	34,571	–	0.43%	–
EQC	New	EQUITY COMWLTH COM SH BEN INTsh ben int	$3,641,000	–	124,996	–	0.43%	–
DRE	New	DUKE REALTY CORP COM NEW	$3,304,000	–	123,936	–	0.39%	–
HTA	New	HEALTHCARE TR AMER INC CL A NEWcl a new	$3,225,000	–	99,760	–	0.38%	–
SNH	New	SENIOR HSG PPTYS TR SH BEN INTsh ben int	$3,035,000	–	145,683	–	0.36%	–
AIV	New	APARTMENT INVT & MGMT CO CL Acl a	$2,948,000	–	66,742	–	0.35%	–
BRX	New	BRIXMOR PPTY GROUP INC COM	$2,923,000	–	110,449	–	0.34%	–
LPT	New	LIBERTY PPTY TR SH BEN INTsh ben int	$2,905,000	–	73,133	–	0.34%	–
VER	New	VEREIT INC COM	$2,799,000	–	276,000	–	0.33%	–
TCO	New	TAUBMAN CTRS INC COM	$2,790,000	–	37,601	–	0.33%	–
REG	New	REGENCY CTRS CORP COM	$2,787,000	–	33,273	–	0.33%	–
WRI	New	WEINGARTEN RLTY INVS SH BEN INTsh ben int	$2,711,000	–	66,413	–	0.32%	–
MAA	New	MID-AMER APT CMNTYS INC COM	$2,606,000	–	24,494	–	0.31%	–
DDR	New	DDR CORP COM	$2,552,000	–	140,667	–	0.30%	–
DEI	New	DOUGLAS EMMETT INC COM	$2,454,000	–	69,088	–	0.29%	–
FRT	New	FEDERAL REALTY INVT TR SH BEN INT NEWsh ben int new	$2,416,000	–	14,597	–	0.28%	–
CBLAQ	New	CBL & ASSOC PPTYS INC COM	$2,275,000	–	244,428	–	0.27%	–
KRC	New	KILROY RLTY CORP COM	$2,232,000	–	33,662	–	0.26%	–
OHI	New	OMEGA HEALTHCARE INVS INC COM	$2,124,000	–	62,577	–	0.25%	–
WPC	New	W P CAREY INC COM	$2,124,000	–	30,584	–	0.25%	–
STAY	New	EXTENDED STAY AMER INC UNIT 99/99/9999Bunit 99/99/9999b	$2,060,000	–	137,757	–	0.24%	–
HIW	New	HIGHWOODS PPTYS INC COM	$2,017,000	–	38,198	–	0.24%	–
	New	AMERICAN CAMPUS CMNTYS INC COM	$1,989,000	–	37,628	–	0.23%	–
PDM	New	PIEDMONT OFFICE REALTY TR IN COM CL Acl a	$1,942,000	–	90,195	–	0.23%	–
CLI	New	MACK CALI RLTY CORP COM	$1,894,000	–	70,125	–	0.22%	–
CUBE	New	CUBESMART COM	$1,846,000	–	59,770	–	0.22%	–
CXP	New	COLUMBIA PPTY TR INC COM NEW	$1,776,000	–	83,011	–	0.21%	–
ELS	New	EQUITY LIFESTYLE PPTYS INC COM	$1,775,000	–	22,170	–	0.21%	–
RLJ	New	RLJ LODGING TR COM	$1,780,000	–	83,003	–	0.21%	–
FCEA	New	FOREST CITY RLTY TR INC COM CL Acl a	$1,757,000	–	78,767	–	0.21%	–
EXR	New	EXTRA SPACE STORAGE INC COM	$1,719,000	–	18,576	–	0.20%	–
BDN	New	BRANDYWINE RLTY TR SH BEN INT NEWsh ben int new	$1,709,000	–	101,715	–	0.20%	–
OFC	New	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$1,611,000	–	54,493	–	0.19%	–
LXP	New	LEXINGTON REALTY TRUST COM	$1,604,000	–	158,731	–	0.19%	–
JNJ	New	JOHNSON & JOHNSON COM	$1,528,000	–	12,600	–	0.18%	–
INTC	New	INTEL CORP COM	$1,525,000	–	46,500	–	0.18%	–
PSB	New	PS BUSINESS PKS INC CALIF COM	$1,379,000	–	13,004	–	0.16%	–
	New	ASHFORD HOSPITALITY TR INC COM SHS	$1,358,000	–	252,790	–	0.16%	–
SUI	New	SUN CMNTYS INC COM	$1,333,000	–	17,398	–	0.16%	–
HR	New	HEALTHCARE RLTY TR COM	$1,326,000	–	37,899	–	0.16%	–
SKT	New	TANGER FACTORY OUTLET CTRS I COM	$1,298,000	–	32,301	–	0.15%	–
LQ	New	LA QUINTA HLDGS INC COM	$1,284,000	–	112,574	–	0.15%	–
PGRE	New	PARAMOUNT GROUP INC COM	$1,264,000	–	79,302	–	0.15%	–
EQY	New	EQUITY ONE COM	$1,226,000	–	38,101	–	0.14%	–
EGP	New	EASTGROUP PPTY INC COM	$1,182,000	–	17,159	–	0.14%	–
DCT	New	DCT INDUSTRIAL TRUST INC COM NEW	$1,184,000	–	24,658	–	0.14%	–
WRE	New	WASHINGTON REAL ESTATE INVT SH BEN INTsh ben int	$1,155,000	–	36,712	–	0.14%	–
DFT	New	DUPONT FABROS TECHNOLOGY INC COM	$1,160,000	–	24,390	–	0.14%	–
MPW	New	MEDICAL PPTYS TRUST INC COM	$1,123,000	–	73,799	–	0.13%	–
UE	New	URBAN EDGE PPTYS COM	$1,082,000	–	36,242	–	0.13%	–
GPT	New	GRAMERCY PPTY TR COM	$1,075,000	–	116,684	–	0.13%	–
SRC	New	SPIRIT RLTY CAP INC NEW COM	$1,072,000	–	83,915	–	0.13%	–
PPS	New	POST PPTYS INC COM	$1,052,000	–	17,233	–	0.12%	–
FCH	New	FELCOR LODGING TR INC COM	$953,000	–	152,953	–	0.11%	–
SE	New	SPECTRA ENERGY CORP COM	$911,000	–	24,877	–	0.11%	–
SYY	New	SYSCO CORP COM	$883,000	–	17,400	–	0.10%	–
NOV	New	NATIONAL OILWELL VARCO INC COM	$796,000	–	23,650	–	0.09%	–
MXIM	New	MAXIM INTEGRATED PRODS INC COM	$794,000	–	22,250	–	0.09%	–
HST	New	HOST HOTELS & RESORTS INC COM	$740,000	–	45,651	–	0.09%	–
FSLR	New	FIRST SOLAR INC COM	$729,000	–	15,031	–	0.09%	–
SCSS	New	SELECT COMFORT CORP COM	$691,000	–	32,323	–	0.08%	–
TDC	New	TERADATA CORP DEL COM	$645,000	–	25,725	–	0.08%	–
KRO	New	KRONOS WORLDWIDE INC COM	$600,000	–	114,315	–	0.07%	–
DFRG	New	DEL FRISCOS RESTAURANT GROUP COM	$576,000	–	40,242	–	0.07%	–
STRA	New	STRAYER ED INC COM	$570,000	–	11,597	–	0.07%	–
DRH	New	DIAMONDROCK HOSPITALITY CO COM	$535,000	–	59,278	–	0.06%	–
TER	New	TERADYNE INC COM	$503,000	–	25,544	–	0.06%	–
JBL	New	JABIL CIRCUIT INC COM	$486,000	–	26,295	–	0.06%	–
LHCG	New	LHC GROUP INC COM	$487,000	–	11,261	–	0.06%	–
	New	AMERICAN EQTY INVT LIFE HLD COM	$389,000	–	27,279	–	0.05%	–
EVC	New	ENTRAVISION COMMUNICATIONS C CL Acl a	$386,000	–	57,394	–	0.04%	–
WIBC	New	WILSHIRE BANCORP INC COM	$365,000	–	35,032	–	0.04%	–
BC	New	BRUNSWICK CORP COM	$360,000	–	7,946	–	0.04%	–
LXFR	New	LUXFER HLDGS PLC SPONSORED ADRsponsored adr	$332,000	–	27,600	–	0.04%	–
SAVE	New	SPIRIT AIRLS INC COM	$316,000	–	7,035	–	0.04%	–
GTLS	New	CHART INDS INC COM PAR $0.01par $0.01	$316,000	–	13,079	–	0.04%	–
SGNT	New	SAGENT PHARMACEUTICALS INC COM	$303,000	–	20,219	–	0.04%	–
	New	AMERICAN ASSETS TR INC COM	$304,000	–	7,162	–	0.04%	–
IM	New	INGRAM MICRO INC CL Acl a	$306,000	–	8,812	–	0.04%	–
ENS	New	ENERSYS COM	$299,000	–	5,024	–	0.04%	–
	New	ABERCROMBIE & FITCH CO CL Acl a	$288,000	–	16,193	–	0.03%	–
WWW	New	WOLVERINE WORLD WIDE INC COM	$279,000	–	13,722	–	0.03%	–
CPLA	New	CAPELLA EDUCATION COMPANY COM	$282,000	–	5,354	–	0.03%	–
KALU	New	KAISER ALUMINUM CORP COM PAR $0.01par $0.01	$269,000	–	2,978	–	0.03%	–
	New	AMERICAN FINL GROUP INC OHIO COM	$262,000	–	3,548	–	0.03%	–
	New	ARCTIC CAT INC COM	$258,000	–	15,183	–	0.03%	–
UBNT	New	UBIQUITI NETWORKS INC COM	$247,000	–	6,378	–	0.03%	–
TRN	New	TRINITY INDS INC COM	$250,000	–	13,465	–	0.03%	–
TECD	New	TECH DATA CORP COM	$243,000	–	3,382	–	0.03%	–
TKR	New	TIMKEN CO COM	$233,000	–	7,585	–	0.03%	–
FINL	New	FINISH LINE INC CL Acl a	$200,000	–	9,918	–	0.02%	–
AEO	New	AMERICAN EAGLE OUTFITTERS NE COM	$194,000	–	12,179	–	0.02%	–
SYNA	New	SYNAPTICS INC COM	$148,000	–	2,750	–	0.02%	–
MRC	New	MRC GLOBAL INC COM	$121,000	–	8,485	–	0.01%	–
SAFM	New	SANDERSON FARMS INC COM	$83,000	–	962	–	0.01%	–

Q4 2015

			Value		Shares		↓ Weighting
	Exit	ATWOOD OCEANICS INC COM	$0	–	-3,263	–	-0.01%	–
LHCG	Exit	LHC GROUP INC COM	$0	–	-1,311	–	-0.01%	–
SHO	Exit	SUNSTONE HOTEL INVS INC NEW COM	$0	–	-5,046	–	-0.01%	–
VSH	Exit	VISHAY INTERTECHNOLOGY INC COM	$0	–	-7,803	–	-0.01%	–
MRC	Exit	MRC GLOBAL INC COM	$0	–	-6,664	–	-0.01%	–
PLXS	Exit	PLEXUS CORP COM	$0	–	-2,132	–	-0.01%	–
TER	Exit	TERADYNE INC COM	$0	–	-4,628	–	-0.01%	–
AEO	Exit	AMERICAN EAGLE OUTFITTERS NE COM	$0	–	-5,492	–	-0.01%	–
	Exit	AGCO CORP COM	$0	–	-2,119	–	-0.01%	–
EVC	Exit	ENTRAVISION COMMUNICATIONS C CL Acl a	$0	–	-17,343	–	-0.01%	–
TKR	Exit	TIMKEN CO COM	$0	–	-4,555	–	-0.02%	–
FINL	Exit	FINISH LINE INC CL Acl a	$0	–	-6,150	–	-0.02%	–
	Exit	ARCTIC CAT INC COM	$0	–	-5,762	–	-0.02%	–
JBL	Exit	JABIL CIRCUIT INC COM	$0	–	-5,852	–	-0.02%	–
UBNT	Exit	UBIQUITI NETWORKS INC COM	$0	–	-4,100	–	-0.02%	–
WIBC	Exit	WILSHIRE BANCORP INC COM	$0	–	-13,239	–	-0.02%	–
SAFM	Exit	SANDERSON FARMS INC COM	$0	–	-2,168	–	-0.02%	–
	Exit	ABERCROMBIE & FITCH CO CL Acl a	$0	–	-6,806	–	-0.02%	–
	Exit	AMERICAN FINL GROUP INC OHIO COM	$0	–	-2,390	–	-0.02%	–
IM	Exit	INGRAM MICRO INC CL Acl a	$0	–	-5,941	–	-0.02%	–
LXFR	Exit	LUXFER HLDGS PLC SPONSORED ADRsponsored adr	$0	–	-15,400	–	-0.02%	–
BC	Exit	BRUNSWICK CORP COM	$0	–	-3,679	–	-0.02%	–
GTLS	Exit	CHART INDS INC COM PAR $0.01	$0	–	-8,798	–	-0.02%	–
FSLR	Exit	FIRST SOLAR INC COM	$0	–	-4,269	–	-0.02%	–
QLGC	Exit	QLOGIC CORP COM	$0	–	-17,589	–	-0.02%	–
WNR	Exit	WESTERN REFNG INC COM	$0	–	-4,700	–	-0.02%	–
STRA	Exit	STRAYER ED INC COM	$0	–	-3,659	–	-0.02%	–
KALU	Exit	KAISER ALUMINUM CORP COM PAR $0.01	$0	–	-2,742	–	-0.03%	–
SCSS	Exit	SELECT COMFORT CORP COM	$0	–	-10,538	–	-0.03%	–
EGP	Exit	EASTGROUP PPTY INC COM	$0	–	-4,612	–	-0.03%	–
CPLA	Exit	CAPELLA EDUCATION COMPANY COM	$0	–	-5,525	–	-0.03%	–
TDC	Exit	TERADATA CORP DEL COM	$0	–	-9,501	–	-0.03%	–
HST	Exit	HOST HOTELS & RESORTS INC COM	$0	–	-27,661	–	-0.05%	–
FCH	Exit	FELCOR LODGING TR INC COM	$0	–	-80,813	–	-0.07%	–
	Exit	ASHFORD HOSPITALITY TR INC COM SHS	$0	–	-122,435	–	-0.09%	–
SRC	Exit	SPIRIT RLTY CAP INC NEW COM	$0	–	-84,803	–	-0.09%	–
PGRE	Exit	PARAMOUNT GROUP INC COM	$0	–	-45,903	–	-0.09%	–
EQY	Exit	EQUITY ONE COM	$0	–	-33,322	–	-0.10%	–
WRE	Exit	WASHINGTON REAL ESTATE INVT SH BEN INTsh ben int	$0	–	-32,942	–	-0.10%	–
HR	Exit	HEALTHCARE RLTY TR COM	$0	–	-34,124	–	-0.10%	–
OFC	Exit	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$0	–	-40,651	–	-0.10%	–
SUI	Exit	SUN CMNTYS INC COM	$0	–	-12,774	–	-0.11%	–
SKT	Exit	TANGER FACTORY OUTLET CTRS I COM	$0	–	-26,779	–	-0.11%	–
PPS	Exit	POST PPTYS INC COM	$0	–	-15,804	–	-0.11%	–
LXP	Exit	LEXINGTON REALTY TRUST COM	$0	–	-120,985	–	-0.12%	–
KRC	Exit	KILROY RLTY CORP COM	$0	–	-15,258	–	-0.12%	–
VER	Exit	VEREIT INC COM ADDED	$0	–	-130,909	–	-0.12%	–
PSB	Exit	PS BUSINESS PKS INC CALIF COM	$0	–	-12,777	–	-0.12%	–
ABBV	Exit	ABBVIE INC COM	$0	–	-19,200	–	-0.13%	–
BDN	Exit	BRANDYWINE RLTY TR SH BEN INT NEWsh ben int new	$0	–	-84,270	–	-0.13%	–
RLJ	Exit	RLJ LODGING TR COM	$0	–	-42,101	–	-0.13%	–
EPR	Exit	EPR PPTYS COM SH BEN INTsh ben int	$0	–	-20,722	–	-0.13%	–
CCP	Exit	CARE CAP PPTYS INC COM ADDED	$0	–	-33,004	–	-0.13%	–
WPC	Exit	W P CAREY INC COM	$0	–	-18,863	–	-0.13%	–
COP	Exit	CONOCOPHILLIPS COM	$0	–	-22,700	–	-0.13%	–
STAY	Exit	EXTENDED STAY AMER INC UNIT 99/99/9999Bunit 99/99/9999b	$0	–	-65,614	–	-0.13%	–
SE	Exit	SPECTRA ENERGY CORP COM	$0	–	-42,027	–	-0.14%	–
	Exit	AMERICAN CAMPUS CMNTYS INC COM	$0	–	-30,933	–	-0.14%	–
DEI	Exit	DOUGLAS EMMETT INC COM	$0	–	-40,452	–	-0.14%	–
CA	Exit	CA INC COM	$0	–	-44,200	–	-0.15%	–
CXP	Exit	COLUMBIA PPTY TR INC COM NEW	$0	–	-53,546	–	-0.15%	–
HIW	Exit	HIGHWOODS PPTYS INC COM	$0	–	-33,178	–	-0.16%	–
ELS	Exit	EQUITY LIFESTYLE PPTYS INC COM	$0	–	-21,997	–	-0.16%	–
INTC	Exit	INTEL CORP COM	$0	–	-44,500	–	-0.16%	–
OHI	Exit	OMEGA HEALTHCARE INVS INC COM	$0	–	-38,952	–	-0.17%	–
FCEA	Exit	FOREST CITY ENTERPRISES INC CL Acl a	$0	–	-68,052	–	-0.17%	–
WRI	Exit	WEINGARTEN RLTY INVS SH BEN INTsh ben int	$0	–	-43,922	–	-0.18%	–
PDM	Exit	PIEDMONT OFFICE REALTY TR IN COM CL Acl a	$0	–	-83,378	–	-0.18%	–
HME	Exit	HOME PROPERTIES INC COM	$0	–	-20,254	–	-0.18%	–
HTA	Exit	HEALTHCARE TR AMER INC CL A NEWcl a new	$0	–	-62,166	–	-0.19%	–
SNH	Exit	SENIOR HSG PPTYS TR SH BEN INTsh ben int	$0	–	-94,435	–	-0.19%	–
DDR	Exit	DDR CORP COM	$0	–	-103,775	–	-0.20%	–
CBLAQ	Exit	CBL & ASSOC PPTYS INC COM	$0	–	-116,679	–	-0.20%	–
CLI	Exit	MACK CALI RLTY CORP COM	$0	–	-85,626	–	-0.20%	–
REG	Exit	REGENCY CTRS CORP COM	$0	–	-26,092	–	-0.20%	–
SYY	Exit	SYSCO CORP COM	$0	–	-42,800	–	-0.20%	–
	Exit	ALEXANDRIA REAL ESTATE EQ IN COM	$0	–	-20,318	–	-0.21%	–
FRT	Exit	FEDERAL REALTY INVT TR SH BEN INT NEWsh ben int new	$0	–	-12,888	–	-0.21%	–
CPT	Exit	CAMDEN PPTY TR SH BEN INTsh ben int	$0	–	-24,350	–	-0.22%	–
LPT	Exit	LIBERTY PPTY TR SH BEN INTsh ben int	$0	–	-58,351	–	-0.22%	–
EQC	Exit	EQUITY COMWLTH COM SH BEN INTsh ben int	$0	–	-68,050	–	-0.23%	–
NNN	Exit	NATIONAL RETAIL PPTYS INC COM	$0	–	-53,683	–	-0.24%	–
TCO	Exit	TAUBMAN CTRS INC COM	$0	–	-28,272	–	-0.24%	–
EXR	Exit	EXTRA SPACE STORAGE INC COM	$0	–	-25,857	–	-0.24%	–
BRX	Exit	BRIXMOR PPTY GROUP INC COM	$0	–	-89,550	–	-0.26%	–
WPG	Exit	WP GLIMCHER IN COM	$0	–	-181,972	–	-0.26%	–
ESS	Exit	ESSEX PPTY TR INC COM	$0	–	-9,658	–	-0.26%	–
AIV	Exit	APARTMENT INVT & MGMT CO CL Acl a	$0	–	-58,388	–	-0.26%	–
DRE	Exit	DUKE REALTY CORP COM NEW	$0	–	-116,158	–	-0.27%	–
SLG	Exit	SL GREEN RLTY CORP COM	$0	–	-21,199	–	-0.28%	–
O	Exit	REALTY INCOME CORP COM	$0	–	-49,756	–	-0.29%	–
DLR	Exit	DIGITAL RLTY TR INC COM	$0	–	-49,239	–	-0.39%	–
KIM	Exit	KIMCO RLTY CORP COM	$0	–	-141,932	–	-0.42%	–
MAC	Exit	MACERICH CO COM	$0	–	-54,947	–	-0.52%	–
	Exit	AVALONBAY CMNTYS INC COM	$0	–	-25,292	–	-0.54%	–
PLD	Exit	PROLOGIS INC COM	$0	–	-124,519	–	-0.59%	–
WELL	Exit	WELLTOWER INC COM ADDED	$0	–	-72,754	–	-0.60%	–
BXP	Exit	BOSTON PROPERTIES INC COM	$0	–	-44,323	–	-0.64%	–
VTR	Exit	VENTAS INC COM	$0	–	-94,421	–	-0.64%	–
GGP	Exit	GENERAL GROWTH PPTYS INC NEW COM	$0	–	-207,333	–	-0.66%	–
HCP	Exit	HCP INC COM	$0	–	-151,308	–	-0.69%	–
VNO	Exit	VORNADO RLTY TR SH BEN INTsh ben int	$0	–	-66,477	–	-0.73%	–
EQR	Exit	EQUITY RESIDENTIAL SH BEN INTsh ben int	$0	–	-94,704	–	-0.87%	–
PSA	Exit	PUBLIC STORAGE COM	$0	–	-34,960	–	-0.90%	–
RWT	Exit	REDWOOD TR INC COM	$0	–	-789,760	–	-1.33%	–
NTI	Exit	NORTHERN TIER ENERGY LP COM UN REPR PART	$0	–	-494,500	–	-1.38%	–
KKR	Exit	KKR & CO L P DEL COM UNITS	$0	–	-682,700	–	-1.40%	–
LHO	Exit	LASALLE HOTEL PPTYS COM SH BEN INTsh ben int	$0	–	-419,334	–	-1.45%	–
TRMK	Exit	TRUSTMARK CORP COM	$0	–	-527,650	–	-1.49%	–
TE	Exit	TECO ENERGY INC COM	$0	–	-466,832	–	-1.50%	–
SPG	Exit	SIMON PPTY GROUP INC NEW COM	$0	–	-67,550	–	-1.51%	–
VIV	Exit	TELEFONICA BRASIL SA SPONSORED ADRsponsored adr	$0	–	-1,374,600	–	-1.53%	–
RPAI	Exit	RETAIL PPTYS AMER INC CL Acl a	$0	–	-944,636	–	-1.62%	–
LXK	Exit	LEXMARK INTL NEW CL Acl a	$0	–	-624,456	–	-2.21%	–
PKX	Exit	POSCO SPONSORED ADRsponsored adr	$0	–	-567,682	–	-2.42%	–
ARCC	Exit	ARES CAP CORP COM	$0	–	-1,451,250	–	-2.56%	–
PG	Exit	PROCTER & GAMBLE CO COM	$0	–	-300,550	–	-2.64%	–
UMPQ	Exit	UMPQUA HLDGS CORP COM	$0	–	-1,327,700	–	-2.64%	–
WR	Exit	WESTAR ENERGY INC COM	$0	–	-573,550	–	-2.69%	–
BMR	Exit	BIOMED REALTY TRUST INC COM	$0	–	-1,115,181	–	-2.72%	–
JNJ	Exit	JOHNSON & JOHNSON COM	$0	–	-240,000	–	-2.73%	–
PEG	Exit	PUBLIC SVC ENTERPRISE GROUP COM	$0	–	-534,154	–	-2.75%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADRsponsored adr	$0	–	-1,089,300	–	-2.76%	–
NOV	Exit	NATIONAL OILWELL VARCO INC COM	$0	–	-616,550	–	-2.83%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS COM	$0	–	-160,100	–	-2.83%	–
QCOM	Exit	QUALCOMM INC COM	$0	–	-434,000	–	-2.84%	–
MAA	Exit	MID-AMER APT CMNTYS INC COM	$0	–	-294,021	–	-2.94%	–
TWO	Exit	TWO HBRS INVT CORP COM	$0	–	-2,746,850	–	-2.95%	–
MAT	Exit	MATTEL INC COM	$0	–	-1,155,237	–	-2.97%	–
UDR	Exit	UDR INC COM	$0	–	-705,968	–	-2.97%	–
PM	Exit	PHILIP MORRIS INTL INC COM	$0	–	-307,950	–	-2.98%	–
MCD	Exit	MCDONALDS CORP COM	$0	–	-254,300	–	-3.06%	–
GE	Exit	GENERAL ELECTRIC CO COM	$0	–	-995,949	–	-3.06%	–
GM	Exit	GENERAL MTRS CO COM	$0	–	-857,000	–	-3.14%	–
VZ	Exit	VERIZON COMMUNICATIONS INC COM	$0	–	-593,700	–	-3.15%	–
PFE	Exit	PFIZER INC COM	$0	–	-822,791	–	-3.15%	–
MXIM	Exit	MAXIM INTEGRATED PRODS INC COM	$0	–	-805,000	–	-3.28%	–

Q3 2015

			Value		Shares		↓ Weighting
MXIM	Sell	MAXIM INTEGRATED PRODS INC COM	$26,886,000	-14.3%	805,000	-11.3%	3.28%	-8.1%
PFE	Sell	PFIZER INC COM	$25,843,000	-18.4%	822,791	-12.9%	3.15%	-12.5%
VZ	Sell	VERIZON COMMUNICATIONS INC COM	$25,832,000	-14.6%	593,700	-8.5%	3.15%	-8.4%
GM	Buy	GENERAL MTRS CO COM	$25,727,000	-5.1%	857,000	+5.3%	3.14%	+1.8%
GE	Sell	GENERAL ELECTRIC CO COM	$25,118,000	-14.5%	995,949	-10.0%	3.06%	-8.3%
MCD	Sell	MCDONALDS CORP COM	$25,056,000	-17.2%	254,300	-20.1%	3.06%	-11.2%
PM	Sell	PHILIP MORRIS INTL INC COM	$24,430,000	-16.2%	307,950	-15.3%	2.98%	-10.1%
UDR	Sell	UDR INC COM	$24,342,000	-12.9%	705,968	-19.1%	2.97%	-6.6%
MAT	Sell	MATTEL INC COM	$24,329,000	-23.9%	1,155,237	-7.2%	2.97%	-18.4%
TWO	Sell	TWO HBRS INVT CORP COM	$24,227,000	-18.6%	2,746,850	-10.1%	2.95%	-12.7%
MAA	Buy	MID-AMER APT CMNTYS INC COM	$24,071,000	+30.1%	294,021	+15.7%	2.94%	+39.6%
QCOM	New	QUALCOMM INC COM	$23,319,000	–	434,000	–	2.84%	–
IBM	Buy	INTERNATIONAL BUSINESS MACHS COM	$23,210,000	+425.5%	160,100	+489.7%	2.83%	+463.7%
NOV	Buy	NATIONAL OILWELL VARCO INC COM	$23,213,000	+33.6%	616,550	+71.3%	2.83%	+43.3%
TSM	New	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADRsponsored adr	$22,603,000	–	1,089,300	–	2.76%	–
PEG	Sell	PUBLIC SVC ENTERPRISE GROUP COM	$22,520,000	-12.6%	534,154	-18.6%	2.75%	-6.3%
JNJ	New	JOHNSON & JOHNSON COM	$22,404,000	–	240,000	–	2.73%	–
BMR	Sell	BIOMED REALTY TRUST INC COM	$22,281,000	-10.9%	1,115,181	-13.7%	2.72%	-4.4%
WR	Sell	WESTAR ENERGY INC COM	$22,048,000	-10.1%	573,550	-20.0%	2.69%	-3.6%
UMPQ	Sell	UMPQUA HLDGS CORP COM	$21,641,000	-21.2%	1,327,700	-13.0%	2.64%	-15.5%
PG	New	PROCTER & GAMBLE CO COM	$21,622,000	–	300,550	–	2.64%	–
ARCC	Buy	ARES CAP CORP COM	$21,015,000	+0.2%	1,451,250	+13.9%	2.56%	+7.5%
PKX	Buy	POSCO SPONSORED ADRsponsored adr	$19,880,000	+357.1%	567,682	+540.7%	2.42%	+390.7%
LXK	Buy	LEXMARK INTL NEW CL Acl a	$18,097,000	-11.4%	624,456	+35.1%	2.21%	-5.0%
RPAI	Buy	RETAIL PPTYS AMER INC CL Acl a	$13,310,000	+2.1%	944,636	+0.9%	1.62%	+9.5%
VIV	Sell	TELEFONICA BRASIL SA SPONSORED ADRsponsored adr	$12,550,000	-37.0%	1,374,600	-3.9%	1.53%	-32.4%
SPG	Buy	SIMON PPTY GROUP INC NEW COM	$12,410,000	+11.7%	67,550	+5.2%	1.51%	+19.8%
TE	Sell	TECO ENERGY INC COM	$12,259,000	-50.1%	466,832	-66.4%	1.50%	-46.5%
TRMK	Buy	TRUSTMARK CORP COM	$12,226,000	-3.0%	527,650	+4.6%	1.49%	+4.1%
LHO	Buy	LASALLE HOTEL PPTYS COM SH BEN INTsh ben int	$11,905,000	+255.6%	419,334	+344.2%	1.45%	+281.8%
KKR	Sell	KKR & CO L P DEL COM UNITS	$11,456,000	-37.7%	682,700	-15.2%	1.40%	-33.2%
NTI	Buy	NORTHERN TIER ENERGY LP COM UN REPR PART	$11,275,000	-1.4%	494,500	+2.8%	1.38%	+5.8%
RWT	Buy	REDWOOD TR INC COM	$10,930,000	+6.5%	789,760	+20.8%	1.33%	+14.3%
PSA	Buy	PUBLIC STORAGE COM	$7,399,000	+24.6%	34,960	+8.6%	0.90%	+33.6%
EQR	Buy	EQUITY RESIDENTIAL SH BEN INTsh ben int	$7,114,000	+11.4%	94,704	+4.0%	0.87%	+19.4%
VNO	Buy	VORNADO RLTY TR SH BEN INTsh ben int	$6,011,000	+9.7%	66,477	+15.2%	0.73%	+17.7%
HCP	Buy	HCP INC COM	$5,636,000	+9.7%	151,308	+7.4%	0.69%	+17.6%
GGP	Buy	GENERAL GROWTH PPTYS INC NEW COM	$5,384,000	+17.6%	207,333	+16.2%	0.66%	+26.2%
VTR	Buy	VENTAS INC COM	$5,293,000	-4.8%	94,421	+5.5%	0.64%	+2.1%
BXP	Buy	BOSTON PROPERTIES INC COM	$5,248,000	+6.9%	44,323	+9.3%	0.64%	+14.7%
WELL	New	WELLTOWER INC COM ADDED	$4,927,000	–	72,754	–	0.60%	–
PLD	Buy	PROLOGIS INC COM	$4,843,000	+11.3%	124,519	+6.1%	0.59%	+19.2%
	Buy	AVALONBAY CMNTYS INC COM	$4,422,000	+22.2%	25,292	+11.7%	0.54%	+31.1%
MAC	Buy	MACERICH CO COM	$4,221,000	+9.1%	54,947	+5.9%	0.52%	+17.0%
KIM	Buy	KIMCO RLTY CORP COM	$3,467,000	+10.9%	141,932	+2.4%	0.42%	+19.2%
DLR	Buy	DIGITAL RLTY TR INC COM	$3,216,000	+5.6%	49,239	+7.8%	0.39%	+13.3%
O	Buy	REALTY INCOME CORP COM	$2,358,000	+14.1%	49,756	+6.9%	0.29%	+22.1%
SLG	Buy	SL GREEN RLTY CORP COM	$2,293,000	+4.9%	21,199	+6.6%	0.28%	+12.9%
DRE	Buy	DUKE REALTY CORP COM NEW	$2,213,000	+9.9%	116,158	+7.2%	0.27%	+17.9%
AIV	Buy	APARTMENT INVT & MGMT CO CL Acl a	$2,162,000	+8.2%	58,388	+7.9%	0.26%	+16.3%
ESS	Buy	ESSEX PPTY TR INC COM	$2,158,000	+41.1%	9,658	+34.2%	0.26%	+51.1%
WPG	Buy	WP GLIMCHER IN COM	$2,122,000	-7.3%	181,972	+7.6%	0.26%	-0.4%
BRX	Buy	BRIXMOR PPTY GROUP INC COM	$2,103,000	+7.8%	89,550	+6.2%	0.26%	+15.3%
EXR	Buy	EXTRA SPACE STORAGE INC COM	$1,995,000	+46.8%	25,857	+24.1%	0.24%	+57.8%
TCO	Buy	TAUBMAN CTRS INC COM	$1,953,000	+1.7%	28,272	+2.3%	0.24%	+9.2%
NNN	Buy	NATIONAL RETAIL PPTYS INC COM	$1,947,000	+11.4%	53,683	+7.5%	0.24%	+19.1%
EQC	Sell	EQUITY COMWLTH COM SH BEN INTsh ben int	$1,854,000	-6.3%	68,050	-11.7%	0.23%	+0.4%
LPT	Buy	LIBERTY PPTY TR SH BEN INTsh ben int	$1,839,000	+4.2%	58,351	+6.5%	0.22%	+11.4%
CPT	Buy	CAMDEN PPTY TR SH BEN INTsh ben int	$1,799,000	+5.6%	24,350	+6.1%	0.22%	+12.9%
FRT	Buy	FEDERAL REALTY INVT TR SH BEN INT NEWsh ben int new	$1,759,000	+14.7%	12,888	+7.7%	0.21%	+23.0%
	Buy	ALEXANDRIA REAL ESTATE EQ IN COM	$1,720,000	+1.3%	20,318	+4.7%	0.21%	+8.8%
SYY	Buy	SYSCO CORP COM	$1,668,000	+14.1%	42,800	+5.7%	0.20%	+22.3%
REG	Buy	REGENCY CTRS CORP COM	$1,622,000	+18.3%	26,092	+12.2%	0.20%	+26.9%
CLI	Buy	MACK CALI RLTY CORP COM	$1,617,000	+8.7%	85,626	+6.0%	0.20%	+16.6%
CBLAQ	Buy	CBL & ASSOC PPTYS INC COM	$1,604,000	-10.5%	116,679	+5.5%	0.20%	-3.9%
DDR	Buy	DDR CORP COM	$1,596,000	+6.5%	103,775	+7.1%	0.20%	+14.7%
SNH	Buy	SENIOR HSG PPTYS TR SH BEN INTsh ben int	$1,530,000	-0.6%	94,435	+7.7%	0.19%	+6.9%
HTA	Buy	HEALTHCARE TR AMER INC CL A NEWcl a new	$1,523,000	+5.5%	62,166	+3.1%	0.19%	+13.4%
HME	Buy	HOME PROPERTIES INC COM	$1,514,000	+8.7%	20,254	+6.2%	0.18%	+17.1%
PDM	Buy	PIEDMONT OFFICE REALTY TR IN COM CL Acl a	$1,492,000	+8.8%	83,378	+6.9%	0.18%	+16.7%
WRI	Buy	WEINGARTEN RLTY INVS SH BEN INTsh ben int	$1,454,000	+8.2%	43,922	+6.9%	0.18%	+15.7%
OHI	Buy	OMEGA HEALTHCARE INVS INC COM	$1,369,000	+8.9%	38,952	+6.4%	0.17%	+16.8%
FCEA	Buy	FOREST CITY ENTERPRISES INC CL Acl a	$1,370,000	-3.7%	68,052	+5.7%	0.17%	+3.1%
INTC	Buy	INTEL CORP COM	$1,341,000	+7.0%	44,500	+8.0%	0.16%	+14.8%
HIW	Buy	HIGHWOODS PPTYS INC COM	$1,286,000	+5.2%	33,178	+8.4%	0.16%	+12.9%
ELS	Buy	EQUITY LIFESTYLE PPTYS INC COM	$1,288,000	+18.7%	21,997	+6.6%	0.16%	+27.6%
CXP	Buy	COLUMBIA PPTY TR INC COM NEW	$1,242,000	+1.6%	53,546	+7.5%	0.15%	+8.6%
CA	Sell	CA INC COM	$1,207,000	-94.7%	44,200	-94.3%	0.15%	-94.3%
DEI	Sell	DOUGLAS EMMETT INC COM	$1,162,000	-17.1%	40,452	-22.3%	0.14%	-10.7%
	Buy	AMERICAN CAMPUS CMNTYS INC COM	$1,121,000	+1.5%	30,933	+5.6%	0.14%	+9.6%
SE	Sell	SPECTRA ENERGY CORP COM	$1,104,000	-23.4%	42,027	-5.0%	0.14%	-17.7%
STAY	Buy	EXTENDED STAY AMER INC UNIT 99/99/9999Bunit 99/99/9999b	$1,101,000	-4.6%	65,614	+6.7%	0.13%	+2.3%
WPC	Buy	W P CAREY INC COM	$1,090,000	+4.6%	18,863	+6.7%	0.13%	+12.7%
COP	Sell	CONOCOPHILLIPS COM	$1,089,000	-96.0%	22,700	-94.9%	0.13%	-95.7%
CCP	New	CARE CAP PPTYS INC COM ADDED	$1,086,000	–	33,004	–	0.13%	–
RLJ	Buy	RLJ LODGING TR COM	$1,064,000	-9.8%	42,101	+6.3%	0.13%	-3.0%
EPR	Buy	EPR PPTYS COM SH BEN INTsh ben int	$1,069,000	-0.4%	20,722	+5.8%	0.13%	+6.6%
BDN	Buy	BRANDYWINE RLTY TR SH BEN INT NEWsh ben int new	$1,038,000	-1.5%	84,270	+6.1%	0.13%	+5.8%
ABBV	Sell	ABBVIE INC COM	$1,045,000	-26.6%	19,200	-9.4%	0.13%	-21.6%
PSB	Buy	PS BUSINESS PKS INC CALIF COM	$1,014,000	+16.6%	12,777	+6.0%	0.12%	+25.3%
VER	New	VEREIT INC COM ADDED	$1,011,000	–	130,909	–	0.12%	–
KRC	Buy	KILROY RLTY CORP COM	$994,000	+2.3%	15,258	+5.4%	0.12%	+10.0%
LXP	Buy	LEXINGTON REALTY TRUST COM	$980,000	+0.2%	120,985	+4.9%	0.12%	+7.2%
PPS	Sell	POST PPTYS INC COM	$921,000	-31.1%	15,804	-35.7%	0.11%	-26.3%
SKT	Sell	TANGER FACTORY OUTLET CTRS I COM	$883,000	-21.8%	26,779	-24.8%	0.11%	-15.6%
SUI	Buy	SUN CMNTYS INC COM	$866,000	+16.2%	12,774	+6.0%	0.11%	+24.7%
OFC	Buy	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$855,000	-4.8%	40,651	+6.5%	0.10%	+2.0%
HR	Buy	HEALTHCARE RLTY TR COM	$848,000	+12.6%	34,124	+5.4%	0.10%	+19.8%
WRE	Buy	WASHINGTON REAL ESTATE INVT SH BEN INTsh ben int	$821,000	+1.7%	32,942	+6.0%	0.10%	+8.7%
EQY	Buy	EQUITY ONE COM	$811,000	+11.7%	33,322	+7.2%	0.10%	+19.3%
SRC	Buy	SPIRIT RLTY CAP INC NEW COM	$775,000	+0.6%	84,803	+6.5%	0.09%	+6.8%
PGRE	Buy	PARAMOUNT GROUP INC COM	$771,000	+3.5%	45,903	+5.7%	0.09%	+10.6%
	Buy	ASHFORD HOSPITALITY TR INC COM SHS	$747,000	-17.5%	122,435	+14.3%	0.09%	-11.7%
FCH	Buy	FELCOR LODGING TR INC COM	$571,000	-22.6%	80,813	+8.1%	0.07%	-16.7%
TDC	New	TERADATA CORP DEL COM	$275,000	–	9,501	–	0.03%	–
CPLA	Buy	CAPELLA EDUCATION COMPANY COM	$274,000	+13.7%	5,525	+23.0%	0.03%	+22.2%
SCSS	Buy	SELECT COMFORT CORP COM	$231,000	+57.1%	10,538	+115.6%	0.03%	+64.7%
KALU	Buy	KAISER ALUMINUM CORP COM PAR $0.01	$220,000	+12.8%	2,742	+16.9%	0.03%	+22.7%
WNR	Buy	WESTERN REFNG INC COM	$207,000	+30.2%	4,700	+28.8%	0.02%	+38.9%
QLGC	Buy	QLOGIC CORP COM	$180,000	+13.2%	17,589	+57.2%	0.02%	+22.2%
FSLR	Buy	FIRST SOLAR INC COM	$182,000	+8.3%	4,269	+19.6%	0.02%	+15.8%
GTLS	Buy	CHART INDS INC COM PAR $0.01	$169,000	+9.7%	8,798	+104.2%	0.02%	+16.7%
LXFR	Buy	LUXFER HLDGS PLC SPONSORED ADRsponsored adr	$166,000	+31.7%	15,400	+58.8%	0.02%	+42.9%
	Buy	AMERICAN FINL GROUP INC OHIO COM	$165,000	+34.1%	2,390	+26.9%	0.02%	+42.9%
SAFM	Buy	SANDERSON FARMS INC COM	$149,000	+79.5%	2,168	+97.1%	0.02%	+100.0%
	Buy	ABERCROMBIE & FITCH CO CL Acl a	$144,000	+34.6%	6,806	+36.9%	0.02%	+50.0%
UBNT	Buy	UBIQUITI NETWORKS INC COM	$139,000	+49.5%	4,100	+41.4%	0.02%	+54.5%
WIBC	Buy	WILSHIRE BANCORP INC COM	$139,000	+3.0%	13,239	+23.8%	0.02%	+13.3%
JBL	Sell	JABIL CIRCUIT INC COM	$131,000	-7.1%	5,852	-11.9%	0.02%	0.0%
	Buy	ARCTIC CAT INC COM	$128,000	-18.5%	5,762	+22.2%	0.02%	-11.1%
FINL	Buy	FINISH LINE INC CL Acl a	$119,000	+35.2%	6,150	+95.2%	0.02%	+50.0%
TKR	Buy	TIMKEN CO COM	$125,000	+37.4%	4,555	+82.1%	0.02%	+50.0%
PLXS	New	PLEXUS CORP COM	$82,000	–	2,132	–	0.01%	–
TER	Sell	TERADYNE INC COM	$83,000	-33.1%	4,628	-27.8%	0.01%	-28.6%
AEO	Buy	AMERICAN EAGLE OUTFITTERS NE COM	$86,000	+38.7%	5,492	+53.4%	0.01%	+42.9%
VSH	Buy	VISHAY INTERTECHNOLOGY INC COM	$76,000	+31.0%	7,803	+56.5%	0.01%	+28.6%
SHO	Sell	SUNSTONE HOTEL INVS INC NEW COM	$67,000	-80.1%	5,046	-77.5%	0.01%	-78.9%
LHCG	Sell	LHC GROUP INC COM	$59,000	-34.4%	1,311	-44.5%	0.01%	-30.0%
REMY	Exit	REMY INTL INC NEW COM	$0	–	-2,037	–	-0.01%	–
QSII	Exit	QUALITY SYS INC COM	$0	–	-4,911	–	-0.01%	–
EXPR	Exit	EXPRESS INC COM	$0	–	-4,664	–	-0.01%	–
SGY	Exit	STONE ENERGY CORP COM	$0	–	-6,661	–	-0.01%	–
RAI	Exit	REYNOLDS AMERICAN INC COM	$0	–	-1,731	–	-0.02%	–
CUBE	Exit	CUBESMART COM	$0	–	-15,284	–	-0.04%	–
T104PS	Exit	AMERICAN RLTY CAP PPTYS INC COM	$0	–	-124,186	–	-0.12%	–
HCN	Exit	HEALTH CARE REIT INC COM	$0	–	-67,866	–	-0.51%	–
HPT	Exit	HOSPITALITY PPTYS TR COM SH BEN INTsh ben int	$0	–	-330,459	–	-1.08%	–
CPL	Exit	CPFL ENERGIA S A SPONSORED ADRsponsored adr	$0	–	-938,387	–	-1.31%	–
MO	Exit	ALTRIA GROUP INC COM	$0	–	-244,267	–	-1.36%	–
WEC	Exit	WEC ENERGY GROUP INC COM	$0	–	-359,549	–	-1.84%	–
PBF	Exit	PBF ENERGY INC CL Acl a	$0	–	-982,500	–	-3.17%	–

Q2 2015

			Value		Shares		↓ Weighting
MAT	New	MATTEL INC COM	$31,971,000	–	1,244,487	–	3.63%	–
PFE	New	PFIZER INC COM	$31,687,000	–	945,041	–	3.60%	–
MXIM	New	MAXIM INTEGRATED PRODS INC COM	$31,378,000	–	907,550	–	3.57%	–
MCD	New	MCDONALDS CORP COM	$30,261,000	–	318,300	–	3.44%	–
VZ	New	VERIZON COMMUNICATIONS INC COM	$30,242,000	–	648,850	–	3.44%	–
TWO	New	TWO HBRS INVT CORP COM	$29,776,000	–	3,057,100	–	3.38%	–
GE	New	GENERAL ELECTRIC CO COM	$29,391,000	–	1,106,199	–	3.34%	–
PM	New	PHILIP MORRIS INTL INC COM	$29,142,000	–	363,500	–	3.31%	–
UDR	New	UDR INC COM	$27,955,000	–	872,774	–	3.18%	–
PBF	New	PBF ENERGY INC CL Acl a	$27,923,000	–	982,500	–	3.17%	–
UMPQ	New	UMPQUA HLDGS CORP COM	$27,468,000	–	1,526,900	–	3.12%	–
COP	New	CONOCOPHILLIPS COM	$27,472,000	–	447,350	–	3.12%	–
GM	New	GENERAL MTRS CO COM	$27,119,000	–	813,650	–	3.08%	–
PEG	New	PUBLIC SVC ENTERPRISE GROUP COM	$25,779,000	–	656,304	–	2.93%	–
BMR	New	BIOMED REALTY TRUST INC COM	$25,002,000	–	1,292,809	–	2.84%	–
TE	New	TECO ENERGY INC COM	$24,570,000	–	1,391,300	–	2.79%	–
WR	New	WESTAR ENERGY INC COM	$24,538,000	–	717,050	–	2.79%	–
CA	New	CA INC COM	$22,761,000	–	777,050	–	2.59%	–
ARCC	New	ARES CAP CORP COM	$20,981,000	–	1,274,650	–	2.38%	–
LXK	New	LEXMARK INTL NEW CL Acl a	$20,431,000	–	462,235	–	2.32%	–
VIV	New	TELEFONICA BRASIL SA SPONSORED ADRsponsored adr	$19,920,000	–	1,430,000	–	2.26%	–
MAA	New	MID-AMER APT CMNTYS INC COM	$18,507,000	–	254,180	–	2.10%	–
KKR	New	KKR & CO L P DEL COM UNITS	$18,402,000	–	805,350	–	2.09%	–
NOV	New	NATIONAL OILWELL VARCO INC COM	$17,376,000	–	359,900	–	1.98%	–
WEC	New	WEC ENERGY GROUP INC COM	$16,169,000	–	359,549	–	1.84%	–
RPAI	New	RETAIL PPTYS AMER INC CL Acl a	$13,042,000	–	936,269	–	1.48%	–
TRMK	New	TRUSTMARK CORP COM	$12,600,000	–	504,400	–	1.43%	–
MO	New	ALTRIA GROUP INC COM	$11,946,000	–	244,267	–	1.36%	–
CPL	New	CPFL ENERGIA S A SPONSORED ADRsponsored adr	$11,495,000	–	938,387	–	1.31%	–
NTI	New	NORTHERN TIER ENERGY LP COM UN REPR PART	$11,438,000	–	481,200	–	1.30%	–
SPG	New	SIMON PPTY GROUP INC NEW COM	$11,111,000	–	64,222	–	1.26%	–
RWT	New	REDWOOD TR INC COM	$10,261,000	–	653,550	–	1.17%	–
HPT	New	HOSPITALITY PPTYS TR COM SH BEN INTsh ben int	$9,525,000	–	330,459	–	1.08%	–
EQR	New	EQUITY RESIDENTIAL SH BEN INTsh ben int	$6,387,000	–	91,018	–	0.73%	–
PSA	New	PUBLIC STORAGE COM	$5,937,000	–	32,199	–	0.68%	–
VTR	New	VENTAS INC COM	$5,557,000	–	89,507	–	0.63%	–
VNO	New	VORNADO RLTY TR SH BEN INTsh ben int	$5,480,000	–	57,719	–	0.62%	–
HCP	New	HCP INC COM	$5,138,000	–	140,870	–	0.58%	–
BXP	New	BOSTON PROPERTIES INC COM	$4,909,000	–	40,556	–	0.56%	–
GGP	New	GENERAL GROWTH PPTYS INC NEW COM	$4,580,000	–	178,464	–	0.52%	–
HCN	New	HEALTH CARE REIT INC COM	$4,454,000	–	67,866	–	0.51%	–
IBM	New	INTERNATIONAL BUSINESS MACHS COM	$4,417,000	–	27,150	–	0.50%	–
PLD	New	PROLOGIS INC COM	$4,352,000	–	117,318	–	0.50%	–
PKX	New	POSCO SPONSORED ADRsponsored adr	$4,349,000	–	88,600	–	0.49%	–
MAC	New	MACERICH CO COM	$3,870,000	–	51,880	–	0.44%	–
	New	AVALONBAY CMNTYS INC COM	$3,620,000	–	22,642	–	0.41%	–
LHO	New	LASALLE HOTEL PPTYS COM SH BEN INTsh ben int	$3,348,000	–	94,400	–	0.38%	–
KIM	New	KIMCO RLTY CORP COM	$3,125,000	–	138,624	–	0.36%	–
DLR	New	DIGITAL RLTY TR INC COM	$3,045,000	–	45,661	–	0.35%	–
WPG	New	WP GLIMCHER IN COM	$2,289,000	–	169,192	–	0.26%	–
SLG	New	SL GREEN RLTY CORP COM	$2,185,000	–	19,888	–	0.25%	–
O	New	REALTY INCOME CORP COM	$2,067,000	–	46,563	–	0.24%	–
DRE	New	DUKE REALTY CORP COM NEW	$2,013,000	–	108,401	–	0.23%	–
AIV	New	APARTMENT INVT & MGMT CO CL Acl a	$1,998,000	–	54,111	–	0.23%	–
EQC	New	EQUITY COMWLTH COM SH BEN INTsh ben int	$1,978,000	–	77,049	–	0.22%	–
BRX	New	BRIXMOR PPTY GROUP INC COM	$1,951,000	–	84,356	–	0.22%	–
TCO	New	TAUBMAN CTRS INC COM	$1,921,000	–	27,632	–	0.22%	–
CBLAQ	New	CBL & ASSOC PPTYS INC COM	$1,792,000	–	110,605	–	0.20%	–
LPT	New	LIBERTY PPTY TR SH BEN INTsh ben int	$1,765,000	–	54,784	–	0.20%	–
NNN	New	NATIONAL RETAIL PPTYS INC COM	$1,747,000	–	49,916	–	0.20%	–
CPT	New	CAMDEN PPTY TR SH BEN INTsh ben int	$1,704,000	–	22,942	–	0.19%	–
	New	ALEXANDRIA REAL ESTATE EQ IN COM	$1,698,000	–	19,415	–	0.19%	–
SNH	New	SENIOR HSG PPTYS TR SH BEN INTsh ben int	$1,539,000	–	87,688	–	0.18%	–
FRT	New	FEDERAL REALTY INVT TR SH BEN INT NEWsh ben int new	$1,533,000	–	11,970	–	0.17%	–
ESS	New	ESSEX PPTY TR INC COM	$1,529,000	–	7,195	–	0.17%	–
DDR	New	DDR CORP COM	$1,498,000	–	96,894	–	0.17%	–
CLI	New	MACK CALI RLTY CORP COM	$1,488,000	–	80,757	–	0.17%	–
SYY	New	SYSCO CORP COM	$1,462,000	–	40,500	–	0.17%	–
HTA	New	HEALTHCARE TR AMER INC CL A NEWcl a new	$1,444,000	–	60,304	–	0.16%	–
SE	New	SPECTRA ENERGY CORP COM	$1,442,000	–	44,227	–	0.16%	–
ABBV	New	ABBVIE INC COM	$1,424,000	–	21,200	–	0.16%	–
FCEA	New	FOREST CITY ENTERPRISES INC CL Acl a	$1,423,000	–	64,384	–	0.16%	–
DEI	New	DOUGLAS EMMETT INC COM	$1,402,000	–	52,045	–	0.16%	–
HME	New	HOME PROPERTIES INC COM	$1,393,000	–	19,075	–	0.16%	–
REG	New	REGENCY CTRS CORP COM	$1,371,000	–	23,252	–	0.16%	–
PDM	New	PIEDMONT OFFICE REALTY TR IN COM CL Acl a	$1,371,000	–	77,968	–	0.16%	–
EXR	New	EXTRA SPACE STORAGE INC COM	$1,359,000	–	20,832	–	0.15%	–
WRI	New	WEINGARTEN RLTY INVS SH BEN INTsh ben int	$1,344,000	–	41,106	–	0.15%	–
PPS	New	POST PPTYS INC COM	$1,337,000	–	24,588	–	0.15%	–
OHI	New	OMEGA HEALTHCARE INVS INC COM	$1,257,000	–	36,619	–	0.14%	–
INTC	New	INTEL CORP COM	$1,253,000	–	41,200	–	0.14%	–
CXP	New	COLUMBIA PPTY TR INC COM NEW	$1,223,000	–	49,833	–	0.14%	–
HIW	New	HIGHWOODS PPTYS INC COM	$1,223,000	–	30,616	–	0.14%	–
RLJ	New	RLJ LODGING TR COM	$1,180,000	–	39,620	–	0.13%	–
STAY	New	EXTENDED STAY AMER INC UNIT 99/99/9999Bunit 99/99/9999b	$1,154,000	–	61,495	–	0.13%	–
SKT	New	TANGER FACTORY OUTLET CTRS I COM	$1,129,000	–	35,602	–	0.13%	–
	New	AMERICAN CAMPUS CMNTYS INC COM	$1,104,000	–	29,280	–	0.12%	–
ELS	New	EQUITY LIFESTYLE PPTYS INC COM	$1,085,000	–	20,626	–	0.12%	–
EPR	New	EPR PPTYS COM SH BEN INTsh ben int	$1,073,000	–	19,583	–	0.12%	–
BDN	New	BRANDYWINE RLTY TR SH BEN INT NEWsh ben int new	$1,054,000	–	79,401	–	0.12%	–
WPC	New	W P CAREY INC COM	$1,042,000	–	17,677	–	0.12%	–
T104PS	New	AMERICAN RLTY CAP PPTYS INC COM	$1,010,000	–	124,186	–	0.12%	–
LXP	New	LEXINGTON REALTY TRUST COM	$978,000	–	115,385	–	0.11%	–
KRC	New	KILROY RLTY CORP COM	$972,000	–	14,474	–	0.11%	–
	New	ASHFORD HOSPITALITY TR INC COM SHS	$906,000	–	107,141	–	0.10%	–
OFC	New	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$898,000	–	38,155	–	0.10%	–
PSB	New	PS BUSINESS PKS INC CALIF COM	$870,000	–	12,059	–	0.10%	–
WRE	New	WASHINGTON REAL ESTATE INVT SH BEN INTsh ben int	$807,000	–	31,088	–	0.09%	–
SRC	New	SPIRIT RLTY CAP INC NEW COM	$770,000	–	79,614	–	0.09%	–
HR	New	HEALTHCARE RLTY TR COM	$753,000	–	32,384	–	0.09%	–
PGRE	New	PARAMOUNT GROUP INC COM	$745,000	–	43,444	–	0.08%	–
SUI	New	SUN CMNTYS INC COM	$745,000	–	12,050	–	0.08%	–
FCH	New	FELCOR LODGING TR INC COM	$738,000	–	74,729	–	0.08%	–
EQY	New	EQUITY ONE COM	$726,000	–	31,088	–	0.08%	–
HST	New	HOST HOTELS & RESORTS INC COM	$549,000	–	27,661	–	0.06%	–
CUBE	New	CUBESMART COM	$354,000	–	15,284	–	0.04%	–
SHO	New	SUNSTONE HOTEL INVS INC NEW COM	$336,000	–	22,408	–	0.04%	–
EGP	New	EASTGROUP PPTY INC COM	$259,000	–	4,612	–	0.03%	–
CPLA	New	CAPELLA EDUCATION COMPANY COM	$241,000	–	4,491	–	0.03%	–
KALU	New	KAISER ALUMINUM CORP COM PAR $0.01	$195,000	–	2,346	–	0.02%	–
BC	New	BRUNSWICK CORP COM	$187,000	–	3,679	–	0.02%	–
FSLR	New	FIRST SOLAR INC COM	$168,000	–	3,568	–	0.02%	–
STRA	New	STRAYER ED INC COM	$158,000	–	3,659	–	0.02%	–
	New	ARCTIC CAT INC COM	$157,000	–	4,716	–	0.02%	–
QLGC	New	QLOGIC CORP COM	$159,000	–	11,189	–	0.02%	–
GTLS	New	CHART INDS INC COM PAR $0.01	$154,000	–	4,309	–	0.02%	–
WNR	New	WESTERN REFNG INC COM	$159,000	–	3,650	–	0.02%	–
SCSS	New	SELECT COMFORT CORP COM	$147,000	–	4,888	–	0.02%	–
IM	New	INGRAM MICRO INC CL Acl a	$149,000	–	5,941	–	0.02%	–
JBL	New	JABIL CIRCUIT INC COM	$141,000	–	6,639	–	0.02%	–
EVC	New	ENTRAVISION COMMUNICATIONS C CL Acl a	$143,000	–	17,343	–	0.02%	–
WIBC	New	WILSHIRE BANCORP INC COM	$135,000	–	10,693	–	0.02%	–
RAI	New	REYNOLDS AMERICAN INC COM	$129,000	–	1,731	–	0.02%	–
LXFR	New	LUXFER HLDGS PLC SPONSORED ADRsponsored adr	$126,000	–	9,700	–	0.01%	–
TER	New	TERADYNE INC COM	$124,000	–	6,408	–	0.01%	–
	New	AGCO CORP COM	$120,000	–	2,119	–	0.01%	–
	New	AMERICAN FINL GROUP INC OHIO COM	$123,000	–	1,884	–	0.01%	–
	New	ABERCROMBIE & FITCH CO CL Acl a	$107,000	–	4,971	–	0.01%	–
MRC	New	MRC GLOBAL INC COM	$103,000	–	6,664	–	0.01%	–
UBNT	New	UBIQUITI NETWORKS INC COM	$93,000	–	2,900	–	0.01%	–
FINL	New	FINISH LINE INC CL Acl a	$88,000	–	3,150	–	0.01%	–
EXPR	New	EXPRESS INC COM	$84,000	–	4,664	–	0.01%	–
	New	ATWOOD OCEANICS INC COM	$86,000	–	3,263	–	0.01%	–
TKR	New	TIMKEN CO COM	$91,000	–	2,502	–	0.01%	–
LHCG	New	LHC GROUP INC COM	$90,000	–	2,361	–	0.01%	–
SGY	New	STONE ENERGY CORP COM	$84,000	–	6,661	–	0.01%	–
QSII	New	QUALITY SYS INC COM	$81,000	–	4,911	–	0.01%	–
SAFM	New	SANDERSON FARMS INC COM	$83,000	–	1,100	–	0.01%	–
VSH	New	VISHAY INTERTECHNOLOGY INC COM	$58,000	–	4,985	–	0.01%	–
AEO	New	AMERICAN EAGLE OUTFITTERS NE COM	$62,000	–	3,581	–	0.01%	–
REMY	New	REMY INTL INC NEW COM	$45,000	–	2,037	–	0.01%	–

Q4 2014

			Value		Shares		↓ Weighting
SGY	Exit	STONE ENERGY CORP COM	$0	–	-1,797	–	-0.01%	–
LQDT	Exit	LIQUIDITY SERVICES INC COM	$0	–	-5,165	–	-0.01%	–
QSII	Exit	QUALITY SYS INC COM	$0	–	-4,911	–	-0.01%	–
NTGR	Exit	NETGEAR INC COM	$0	–	-2,269	–	-0.01%	–
TKR	Exit	TIMKEN CO COM	$0	–	-1,616	–	-0.01%	–
	Exit	AMERICAN VANGUARD CORP COM	$0	–	-5,723	–	-0.01%	–
	Exit	ATWOOD OCEANICS INC COM	$0	–	-1,527	–	-0.01%	–
IM	Exit	INGRAM MICRO INC CL Acl a	$0	–	-2,672	–	-0.01%	–
EGL	Exit	ENGILITY HLDGS INC COM	$0	–	-2,016	–	-0.01%	–
	Exit	ABERCROMBIE & FITCH CO CL Acl a	$0	–	-1,851	–	-0.01%	–
VSH	Exit	VISHAY INTERTECHNOLOGY INC COM	$0	–	-4,985	–	-0.01%	–
LXFR	Exit	LUXFER HLDGS PLC SPONSORED ADRsponsored adr	$0	–	-4,100	–	-0.01%	–
LXK	Exit	LEXMARK INTL NEW CL Acl a	$0	–	-1,600	–	-0.01%	–
KOP	Exit	KOPPERS HOLDINGS INC COM	$0	–	-2,022	–	-0.01%	–
GES	Exit	GUESS INC COM	$0	–	-2,878	–	-0.01%	–
TER	Exit	TERADYNE INC COM	$0	–	-3,937	–	-0.01%	–
KLIC	Exit	KULICKE & SOFFA INDS INC COM	$0	–	-5,500	–	-0.01%	–
	Exit	AMERICAN FINL GROUP INC OHIO COM	$0	–	-1,330	–	-0.01%	–
EXPR	Exit	EXPRESS INC COM	$0	–	-4,664	–	-0.01%	–
PPS	Exit	POST PPTYS INC COM	$0	–	-1,460	–	-0.01%	–
HY	Exit	HYSTER YALE MATLS HANDLING I CL Acl a	$0	–	-1,000	–	-0.01%	–
WNR	Exit	WESTERN REFNG INC COM	$0	–	-1,939	–	-0.01%	–
MANT	Exit	MANTECH INTL CORP CL Acl a	$0	–	-2,677	–	-0.01%	–
JBL	Exit	JABIL CIRCUIT INC COM	$0	–	-3,737	–	-0.01%	–
CTB	Exit	COOPER TIRE & RUBR CO COM	$0	–	-2,695	–	-0.01%	–
SCSS	Exit	SELECT COMFORT CORP COM	$0	–	-3,795	–	-0.01%	–
QLGC	Exit	QLOGIC CORP COM	$0	–	-9,000	–	-0.01%	–
SPR	Exit	SPIRIT AEROSYSTEMS HLDGS INC COM CL Acl a	$0	–	-2,328	–	-0.01%	–
STRA	Exit	STRAYER ED INC COM	$0	–	-1,506	–	-0.01%	–
	Exit	AGCO CORP COM	$0	–	-2,119	–	-0.01%	–
	Exit	ARCTIC CAT INC COM	$0	–	-2,974	–	-0.01%	–
AEO	Exit	AMERICAN EAGLE OUTFITTERS NE COM	$0	–	-7,081	–	-0.01%	–
KALU	Exit	KAISER ALUMINUM CORP COM PAR $0.01	$0	–	-1,628	–	-0.01%	–
	Exit	ALON USA ENERGY INC COM	$0	–	-9,324	–	-0.01%	–
SKT	Exit	TANGER FACTORY OUTLET CTRS I COM	$0	–	-16,163	–	-0.06%	–
HR	Exit	HEALTHCARE RLTY TR COM	$0	–	-25,123	–	-0.06%	–
EQY	Exit	EQUITY ONE COM	$0	–	-27,818	–	-0.06%	–
PSB	Exit	PS BUSINESS PKS INC CALIF COM	$0	–	-8,298	–	-0.07%	–
FCH	Exit	FELCOR LODGING TR INC COM	$0	–	-69,765	–	-0.07%	–
WPC	Exit	W P CAREY INC COM	$0	–	-10,283	–	-0.07%	–
PEI	Exit	PENNSYLVANIA RL ESTATE INVT SH BEN INTsh ben int	$0	–	-33,690	–	-0.07%	–
EXR	Exit	EXTRA SPACE STORAGE INC COM	$0	–	-13,368	–	-0.07%	–
WRE	Exit	WASHINGTON REAL ESTATE INVT SH BEN INTsh ben int	$0	–	-27,650	–	-0.07%	–
LXP	Exit	LEXINGTON REALTY TRUST COM	$0	–	-72,237	–	-0.07%	–
	Exit	ASHFORD HOSPITALITY TR INC COM SHS	$0	–	-70,261	–	-0.08%	–
KRC	Exit	KILROY RLTY CORP COM	$0	–	-12,631	–	-0.08%	–
T104PS	Exit	AMERICAN RLTY CAP PPTYS INC COM	$0	–	-63,214	–	-0.08%	–
	Exit	AMERICAN CAMPUS CMNTYS INC COM	$0	–	-20,811	–	-0.08%	–
DEI	Exit	DOUGLAS EMMETT INC COM	$0	–	-30,325	–	-0.08%	–
OFC	Exit	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$0	–	-30,384	–	-0.08%	–
EPR	Exit	EPR PPTYS COM SH BEN INTsh ben int	$0	–	-15,664	–	-0.08%	–
WPG	Exit	WASHINGTON PRIME GROUP INC COM	$0	–	-46,764	–	-0.08%	–
RLJ	Exit	RLJ LODGING TR COM	$0	–	-29,301	–	-0.09%	–
BDN	Exit	BRANDYWINE RLTY TR SH BEN INT NEWsh ben int new	$0	–	-60,052	–	-0.09%	–
ELS	Exit	EQUITY LIFESTYLE PPTYS INC COM	$0	–	-20,642	–	-0.09%	–
NNN	Exit	NATIONAL RETAIL PPTYS INC COM	$0	–	-25,388	–	-0.09%	–
OHI	Exit	OMEGA HEALTHCARE INVS INC COM	$0	–	-26,249	–	-0.09%	–
HIW	Exit	HIGHWOODS PPTYS INC COM	$0	–	-25,544	–	-0.10%	–
	Exit	ALEXANDRIA REAL ESTATE EQ IN COM	$0	–	-13,608	–	-0.10%	–
RPAI	Exit	RETAIL PPTYS AMER INC CL Acl a	$0	–	-71,679	–	-0.11%	–
HME	Exit	HOME PROPERTIES INC COM	$0	–	-18,126	–	-0.11%	–
REG	Exit	REGENCY CTRS CORP COM	$0	–	-19,599	–	-0.11%	–
SNH	Exit	SENIOR HSG PPTYS TR SH BEN INTsh ben int	$0	–	-52,720	–	-0.12%	–
ESS	Exit	ESSEX PPTY TR INC COM	$0	–	-6,167	–	-0.12%	–
TCO	Exit	TAUBMAN CTRS INC COM	$0	–	-15,234	–	-0.12%	–
DDR	Exit	DDR CORP COM	$0	–	-68,267	–	-0.12%	–
SE	Exit	SPECTRA ENERGY CORP COM	$0	–	-29,327	–	-0.12%	–
PDM	Exit	PIEDMONT OFFICE REALTY TR IN COM CL Acl a	$0	–	-65,802	–	-0.12%	–
CPT	Exit	CAMDEN PPTY TR SH BEN INTsh ben int	$0	–	-17,701	–	-0.13%	–
WRI	Exit	WEINGARTEN RLTY INVS SH BEN INTsh ben int	$0	–	-38,295	–	-0.13%	–
MAA	Exit	MID-AMER APT CMNTYS INC COM	$0	–	-19,230	–	-0.13%	–
FRT	Exit	FEDERAL REALTY INVT TR SH BEN INT NEWsh ben int new	$0	–	-10,694	–	-0.13%	–
CLI	Exit	MACK CALI RLTY CORP COM	$0	–	-66,806	–	-0.13%	–
MRK	Exit	MERCK & CO INC NEW COM	$0	–	-21,800	–	-0.14%	–
LPT	Exit	LIBERTY PPTY TR SH BEN INTsh ben int	$0	–	-39,840	–	-0.14%	–
INTC	Exit	INTEL CORP COM	$0	–	-40,100	–	-0.15%	–
O	Exit	REALTY INCOME CORP COM	$0	–	-34,326	–	-0.15%	–
FCEA	Exit	FOREST CITY ENTERPRISES INC CL Acl a	$0	–	-74,056	–	-0.15%	–
CBLAQ	Exit	CBL & ASSOC PPTYS INC COM	$0	–	-91,529	–	-0.17%	–
EQC	Exit	EQUITY COMWLTH COM SH BEN INT ADDEDsh ben int added	$0	–	-64,149	–	-0.17%	–
AIV	Exit	APARTMENT INVT & MGMT CO CL Acl a	$0	–	-53,586	–	-0.18%	–
SLG	Exit	SL GREEN RLTY CORP COM	$0	–	-16,806	–	-0.18%	–
DRE	Exit	DUKE REALTY CORP COM NEW	$0	–	-103,665	–	-0.19%	–
KIM	Exit	KIMCO RLTY CORP COM	$0	–	-94,080	–	-0.22%	–
	Exit	AVALONBAY CMNTYS INC COM	$0	–	-16,672	–	-0.24%	–
DLR	Exit	DIGITAL RLTY TR INC COM	$0	–	-38,124	–	-0.25%	–
PLD	Exit	PROLOGIS INC COM	$0	–	-67,586	–	-0.27%	–
VTR	Exit	VENTAS INC COM	$0	–	-46,901	–	-0.30%	–
HCN	Exit	HEALTH CARE REIT INC COM	$0	–	-48,553	–	-0.32%	–
BXP	Exit	BOSTON PROPERTIES INC COM	$0	–	-27,863	–	-0.34%	–
HCP	Exit	HCP INC COM	$0	–	-97,218	–	-0.40%	–
EQR	Exit	EQUITY RESIDENTIAL SH BEN INTsh ben int	$0	–	-69,206	–	-0.44%	–
VNO	Exit	VORNADO RLTY TR SH BEN INTsh ben int	$0	–	-46,015	–	-0.48%	–
PSA	Exit	PUBLIC STORAGE COM	$0	–	-28,566	–	-0.49%	–
SPG	Exit	SIMON PPTY GROUP INC NEW COM	$0	–	-43,868	–	-0.75%	–
MAC	Exit	MACERICH CO COM	$0	–	-163,098	–	-1.08%	–
RWT	Exit	REDWOOD TR INC COM	$0	–	-688,800	–	-1.19%	–
LO	Exit	LORILLARD INC COM	$0	–	-248,068	–	-1.55%	–
HPT	Exit	HOSPITALITY PPTYS TR COM SH BEN INTsh ben int	$0	–	-553,759	–	-1.55%	–
ARCC	Exit	ARES CAP CORP COM	$0	–	-938,300	–	-1.58%	–
RNA	Exit	PROSENSA HLDG N V SHS USD	$0	–	-1,996,253	–	-1.75%	–
DOFSQ	Exit	DIAMOND OFFSHORE DRILLING IN COM	$0	–	-616,475	–	-2.20%	–
CPL	Exit	CPFL ENERGIA S A SPONSORED ADRsponsored adr	$0	–	-1,388,571	–	-2.25%	–
KKR	Exit	KKR & CO L P DEL COM UNITS	$0	–	-1,005,050	–	-2.34%	–
WR	Exit	WESTAR ENERGY INC COM	$0	–	-840,557	–	-2.99%	–
VIV	Exit	TELEFONICA BRASIL SA SPONSORED ADRsponsored adr	$0	–	-1,518,600	–	-3.12%	–
P105PS	Exit	INTEGRYS ENERGY GROUP INC COM	$0	–	-484,950	–	-3.28%	–
TWO	Exit	TWO HBRS INVT CORP COM	$0	–	-3,266,300	–	-3.29%	–
SO	Exit	SOUTHERN CO COM	$0	–	-731,600	–	-3.33%	–
BMR	Exit	BIOMED REALTY TRUST INC COM	$0	–	-1,594,030	–	-3.36%	–
MO	Exit	ALTRIA GROUP INC COM	$0	–	-708,117	–	-3.39%	–
CSCO	Exit	CISCO SYS INC COM	$0	–	-1,294,500	–	-3.40%	–
CA	Exit	CA INC COM	$0	–	-1,170,500	–	-3.41%	–
UDR	Exit	UDR INC COM	$0	–	-1,209,924	–	-3.44%	–
ABBV	Exit	ABBVIE INC COM	$0	–	-572,192	–	-3.44%	–
SYY	Exit	SYSCO CORP COM	$0	–	-898,285	–	-3.55%	–
HAS	Exit	HASBRO INC COM	$0	–	-623,700	–	-3.58%	–
MAT	Exit	MATTEL INC COM	$0	–	-1,157,487	–	-3.70%	–
GE	Exit	GENERAL ELECTRIC CO COM	$0	–	-1,426,699	–	-3.81%	–
PEG	Exit	PUBLIC SVC ENTERPRISE GROUP COM	$0	–	-984,604	–	-3.82%	–
MXIM	Exit	MAXIM INTEGRATED PRODS INC COM	$0	–	-1,216,100	–	-3.83%	–
COP	Exit	CONOCOPHILLIPS COM	$0	–	-484,900	–	-3.87%	–
MCD	Exit	MCDONALDS CORP COM	$0	–	-397,000	–	-3.92%	–
PFE	Exit	PFIZER INC COM	$0	–	-1,276,391	–	-3.94%	–
VZ	Exit	VERIZON COMMUNICATIONS INC COM	$0	–	-768,800	–	-4.01%	–

Q3 2014

			Value		Shares		↓ Weighting
VZ	Sell	VERIZON COMMUNICATIONS INC COM	$38,432,000	-3.6%	768,800	-5.6%	4.01%	+3.8%
PFE	Buy	PFIZER INC COM	$37,743,000	+7.6%	1,276,391	+8.0%	3.94%	+15.8%
MCD	New	MCDONALDS CORP COM	$37,640,000	–	397,000	–	3.92%	–
COP	Buy	CONOCOPHILLIPS COM	$37,105,000	+4.8%	484,900	+17.4%	3.87%	+12.8%
MXIM	Buy	MAXIM INTEGRATED PRODS INC COM	$36,775,000	+2998.1%	1,216,100	+3364.7%	3.83%	+3233.9%
PEG	Sell	PUBLIC SVC ENTERPRISE GROUP COM	$36,667,000	-11.6%	984,604	-3.2%	3.82%	-4.9%
GE	Sell	GENERAL ELECTRIC CO COM	$36,552,000	-5.3%	1,426,699	-2.9%	3.81%	+1.9%
MAT	Buy	MATTEL INC COM	$35,477,000	-11.5%	1,157,487	+12.5%	3.70%	-4.7%
HAS	Sell	HASBRO INC COM	$34,300,000	-2.7%	623,700	-6.2%	3.58%	+4.7%
SYY	Sell	SYSCO CORP COM	$34,090,000	-17.9%	898,285	-19.0%	3.55%	-11.7%
ABBV	Sell	ABBVIE INC COM	$33,050,000	-10.5%	572,192	-12.5%	3.44%	-3.7%
UDR	Sell	UDR INC COM	$32,970,000	-9.3%	1,209,924	-4.7%	3.44%	-2.4%
CA	Sell	CA INC COM	$32,704,000	-3.1%	1,170,500	-0.4%	3.41%	+4.2%
CSCO	Sell	CISCO SYS INC COM	$32,583,000	-2.5%	1,294,500	-3.7%	3.40%	+5.0%
MO	Sell	ALTRIA GROUP INC COM	$32,531,000	-1.2%	708,117	-9.8%	3.39%	+6.3%
BMR	Buy	BIOMED REALTY TRUST INC COM	$32,199,000	-6.0%	1,594,030	+1.5%	3.36%	+1.1%
SO	Sell	SOUTHERN CO COM	$31,934,000	-22.6%	731,600	-19.6%	3.33%	-16.7%
TWO	Sell	TWO HBRS INVT CORP COM	$31,585,000	-9.6%	3,266,300	-2.0%	3.29%	-2.7%
P105PS	Sell	INTEGRYS ENERGY GROUP INC COM	$31,434,000	-20.3%	484,950	-12.6%	3.28%	-14.2%
VIV	Sell	TELEFONICA BRASIL SA SPONSORED ADRsponsored adr	$29,886,000	-13.1%	1,518,600	-9.4%	3.12%	-6.5%
WR	New	WESTAR ENERGY INC COM	$28,680,000	–	840,557	–	2.99%	–
KKR	Buy	KKR & CO L P DEL COM UNITS	$22,413,000	-7.9%	1,005,050	+0.4%	2.34%	-0.9%
CPL	Buy	CPFL ENERGIA S A SPONSORED ADRsponsored adr	$21,592,000	-12.8%	1,388,571	+2.1%	2.25%	-6.1%
DOFSQ	Sell	DIAMOND OFFSHORE DRILLING IN COM	$21,127,000	-38.8%	616,475	-11.4%	2.20%	-34.2%
HPT	Buy	HOSPITALITY PPTYS TR COM SH BEN INTsh ben int	$14,868,000	-9.2%	553,759	+2.8%	1.55%	-2.3%
RWT	Buy	REDWOOD TR INC COM	$11,420,000	+111.8%	688,800	+148.8%	1.19%	+128.0%
MAC	Sell	MACERICH CO COM	$10,411,000	-71.4%	163,098	-70.1%	1.08%	-69.2%
SPG	Sell	SIMON PPTY GROUP INC NEW COM	$7,213,000	-1.4%	43,868	-0.3%	0.75%	+6.1%
PSA	Sell	PUBLIC STORAGE COM	$4,737,000	-3.8%	28,566	-0.6%	0.49%	+3.6%
VNO	Sell	VORNADO RLTY TR SH BEN INTsh ben int	$4,600,000	-7.3%	46,015	-1.0%	0.48%	-0.2%
EQR	Sell	EQUITY RESIDENTIAL SH BEN INTsh ben int	$4,262,000	-2.9%	69,206	-0.7%	0.44%	+4.5%
HCP	Sell	HCP INC COM	$3,861,000	-4.6%	97,218	-0.7%	0.40%	+2.6%
BXP	Sell	BOSTON PROPERTIES INC COM	$3,225,000	-3.4%	27,863	-1.3%	0.34%	+4.0%
HCN	Sell	HEALTH CARE REIT INC COM	$3,028,000	-2.1%	48,553	-1.6%	0.32%	+5.3%
VTR	Sell	VENTAS INC COM	$2,906,000	-3.6%	46,901	-0.2%	0.30%	+3.8%
PLD	Sell	PROLOGIS INC COM	$2,548,000	-8.6%	67,586	-0.3%	0.27%	-1.5%
DLR	Sell	DIGITAL RLTY TR INC COM	$2,378,000	+6.4%	38,124	-0.5%	0.25%	+14.8%
	Sell	AVALONBAY CMNTYS INC COM	$2,350,000	-3.1%	16,672	-2.3%	0.24%	+4.3%
KIM	Sell	KIMCO RLTY CORP COM	$2,061,000	-5.2%	94,080	-0.5%	0.22%	+2.4%
DRE	Sell	DUKE REALTY CORP COM NEW	$1,781,000	-6.7%	103,665	-1.4%	0.19%	+0.5%
AIV	Sell	APARTMENT INVT & MGMT CO CL Acl a	$1,705,000	-4.4%	53,586	-3.0%	0.18%	+2.9%
SLG	Sell	SL GREEN RLTY CORP COM	$1,703,000	-7.8%	16,806	-0.5%	0.18%	-0.6%
EQC	New	EQUITY COMWLTH COM SH BEN INT ADDEDsh ben int added	$1,649,000	–	64,149	–	0.17%	–
CBLAQ	Buy	CBL & ASSOC PPTYS INC COM	$1,638,000	-5.0%	91,529	+0.8%	0.17%	+2.4%
FCEA	Sell	FOREST CITY ENTERPRISES INC CL Acl a	$1,449,000	-2.0%	74,056	-0.5%	0.15%	+5.6%
INTC	Sell	INTEL CORP COM	$1,396,000	-96.1%	40,100	-96.6%	0.15%	-95.8%
O	Sell	REALTY INCOME CORP COM	$1,400,000	-10.3%	34,326	-2.2%	0.15%	-3.3%
LPT	Sell	LIBERTY PPTY TR SH BEN INTsh ben int	$1,325,000	-12.8%	39,840	-0.5%	0.14%	-6.1%
MRK	Sell	MERCK & CO INC NEW COM	$1,292,000	-96.3%	21,800	-96.3%	0.14%	-96.0%
CLI	Buy	MACK CALI RLTY CORP COM	$1,277,000	-6.2%	66,806	+5.4%	0.13%	+0.8%
MAA	Sell	MID-AMER APT CMNTYS INC COM	$1,262,000	-11.7%	19,230	-1.7%	0.13%	-4.3%
FRT	Sell	FEDERAL REALTY INVT TR SH BEN INT NEWsh ben int new	$1,267,000	-2.5%	10,694	-0.5%	0.13%	+4.8%
CPT	Sell	CAMDEN PPTY TR SH BEN INTsh ben int	$1,213,000	-6.2%	17,701	-2.6%	0.13%	+0.8%
WRI	Sell	WEINGARTEN RLTY INVS SH BEN INTsh ben int	$1,206,000	-4.6%	38,295	-0.5%	0.13%	+3.3%
PDM	Sell	PIEDMONT OFFICE REALTY TR IN COM CL Acl a	$1,161,000	-7.3%	65,802	-0.5%	0.12%	0.0%
SE	Sell	SPECTRA ENERGY CORP COM	$1,151,000	-13.8%	29,327	-6.7%	0.12%	-7.0%
DDR	Sell	DDR CORP COM	$1,142,000	-5.6%	68,267	-0.5%	0.12%	+1.7%
TCO	Buy	TAUBMAN CTRS INC COM	$1,112,000	+2.8%	15,234	+6.7%	0.12%	+10.5%
ESS	Sell	ESSEX PPTY TR INC COM	$1,102,000	-3.8%	6,167	-0.5%	0.12%	+3.6%
SNH	Sell	SENIOR HSG PPTYS TR SH BEN INTsh ben int	$1,103,000	-15.3%	52,720	-1.7%	0.12%	-8.7%
REG	Sell	REGENCY CTRS CORP COM	$1,055,000	-3.8%	19,599	-0.5%	0.11%	+3.8%
HME	Sell	HOME PROPERTIES INC COM	$1,056,000	-9.4%	18,126	-0.5%	0.11%	-2.7%
RPAI	Buy	RETAIL PPTYS AMER INC CL Acl a	$1,049,000	+1.9%	71,679	+7.1%	0.11%	+9.0%
	Sell	ALEXANDRIA REAL ESTATE EQ IN COM	$1,004,000	-8.6%	13,608	-3.7%	0.10%	-0.9%
HIW	Sell	HIGHWOODS PPTYS INC COM	$994,000	-9.1%	25,544	-2.1%	0.10%	-1.9%
OHI	Sell	OMEGA HEALTHCARE INVS INC COM	$897,000	-7.7%	26,249	-0.5%	0.09%	0.0%
NNN	Sell	NATIONAL RETAIL PPTYS INC COM	$878,000	-7.5%	25,388	-0.5%	0.09%	0.0%
ELS	Sell	EQUITY LIFESTYLE PPTYS INC COM	$874,000	-4.6%	20,642	-0.5%	0.09%	+2.2%
BDN	Sell	BRANDYWINE RLTY TR SH BEN INT NEWsh ben int new	$845,000	-12.8%	60,052	-3.3%	0.09%	-6.4%
RLJ	Sell	RLJ LODGING TR COM	$834,000	-2.0%	29,301	-0.5%	0.09%	+6.1%
WPG	Sell	WASHINGTON PRIME GROUP INC COM	$817,000	-7.3%	46,764	-0.5%	0.08%	0.0%
EPR	Sell	EPR PPTYS COM SH BEN INTsh ben int	$794,000	-9.8%	15,664	-0.5%	0.08%	-2.4%
OFC	Sell	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$781,000	-10.8%	30,384	-3.5%	0.08%	-4.7%
DEI	Sell	DOUGLAS EMMETT INC COM	$778,000	-9.5%	30,325	-0.5%	0.08%	-2.4%
	Sell	ASHFORD HOSPITALITY TR INC COM SHS	$718,000	-13.7%	70,261	-2.6%	0.08%	-7.4%
SKT	Sell	TANGER FACTORY OUTLET CTRS I COM	$529,000	-9.6%	16,163	-3.4%	0.06%	-3.5%
	New	ALON USA ENERGY INC COM	$134,000	–	9,324	–	0.01%	–
KALU	New	KAISER ALUMINUM CORP COM PAR $0.01	$124,000	–	1,628	–	0.01%	–
	New	ARCTIC CAT INC COM	$104,000	–	2,974	–	0.01%	–
AEO	New	AMERICAN EAGLE OUTFITTERS NE COM	$103,000	–	7,081	–	0.01%	–
	New	AGCO CORP COM	$96,000	–	2,119	–	0.01%	–
STRA	New	STRAYER ED INC COM	$90,000	–	1,506	–	0.01%	–
QLGC	New	QLOGIC CORP COM	$82,000	–	9,000	–	0.01%	–
SPR	New	SPIRIT AEROSYSTEMS HLDGS INC COM CL Acl a	$89,000	–	2,328	–	0.01%	–
KLIC	New	KULICKE & SOFFA INDS INC COM	$78,000	–	5,500	–	0.01%	–
MANT	New	MANTECH INTL CORP CL Acl a	$72,000	–	2,677	–	0.01%	–
PPS	New	POST PPTYS INC COM	$75,000	–	1,460	–	0.01%	–
JBL	New	JABIL CIRCUIT INC COM	$75,000	–	3,737	–	0.01%	–
HY	New	HYSTER YALE MATLS HANDLING I CL Acl a	$72,000	–	1,000	–	0.01%	–
SCSS	New	SELECT COMFORT CORP COM	$79,000	–	3,795	–	0.01%	–
EXPR	New	EXPRESS INC COM	$73,000	–	4,664	–	0.01%	–
TER	New	TERADYNE INC COM	$76,000	–	3,937	–	0.01%	–
	New	AMERICAN FINL GROUP INC OHIO COM	$77,000	–	1,330	–	0.01%	–
CTB	New	COOPER TIRE & RUBR CO COM	$77,000	–	2,695	–	0.01%	–
WNR	New	WESTERN REFNG INC COM	$81,000	–	1,939	–	0.01%	–
	New	ABERCROMBIE & FITCH CO CL Acl a	$67,000	–	1,851	–	0.01%	–
IM	New	INGRAM MICRO INC CL Acl a	$69,000	–	2,672	–	0.01%	–
QSII	New	QUALITY SYS INC COM	$68,000	–	4,911	–	0.01%	–
LXFR	New	LUXFER HLDGS PLC SPONSORED ADRsponsored adr	$71,000	–	4,100	–	0.01%	–
TKR	New	TIMKEN CO COM	$69,000	–	1,616	–	0.01%	–
EGL	New	ENGILITY HLDGS INC COM	$63,000	–	2,016	–	0.01%	–
	New	AMERICAN VANGUARD CORP COM	$64,000	–	5,723	–	0.01%	–
GES	New	GUESS INC COM	$63,000	–	2,878	–	0.01%	–
KOP	New	KOPPERS HOLDINGS INC COM	$67,000	–	2,022	–	0.01%	–
	New	ATWOOD OCEANICS INC COM	$67,000	–	1,527	–	0.01%	–
VSH	New	VISHAY INTERTECHNOLOGY INC COM	$71,000	–	4,985	–	0.01%	–
LXK	New	LEXMARK INTL NEW CL Acl a	$68,000	–	1,600	–	0.01%	–
LQDT	New	LIQUIDITY SERVICES INC COM	$71,000	–	5,165	–	0.01%	–
NTGR	New	NETGEAR INC COM	$71,000	–	2,269	–	0.01%	–
SGY	New	STONE ENERGY CORP COM	$56,000	–	1,797	–	0.01%	–
DPS	Exit	DR PEPPER SNAPPLE GROUP INC COM	$0	–	-16,000	–	-0.09%	–
3101SC	Exit	COMMONWEALTH REIT COM SH BEN INTsh ben int	$0	–	-66,075	–	-0.17%	–

Q2 2014

			Value		Shares		↓ Weighting
SYY	New	SYSCO CORP COM	$41,539,000	–	1,109,185	–	4.02%	–
PEG	New	PUBLIC SVC ENTERPRISE GROUP COM	$41,480,000	–	1,016,904	–	4.02%	–
SO	New	SOUTHERN CO COM	$41,269,000	–	909,400	–	4.00%	–
MAT	New	MATTEL INC COM	$40,084,000	–	1,028,587	–	3.88%	–
VZ	New	VERIZON COMMUNICATIONS INC COM	$39,868,000	–	814,800	–	3.86%	–
P105PS	New	INTEGRYS ENERGY GROUP INC COM	$39,452,000	–	554,650	–	3.82%	–
GE	New	GENERAL ELECTRIC CO COM	$38,600,000	–	1,468,799	–	3.74%	–
ABBV	New	ABBVIE INC COM	$36,928,000	–	654,292	–	3.58%	–
MAC	New	MACERICH CO COM	$36,410,000	–	545,465	–	3.53%	–
UDR	New	UDR INC COM	$36,340,000	–	1,269,287	–	3.52%	–
INTC	New	INTEL CORP COM	$35,971,000	–	1,164,108	–	3.48%	–
COP	New	CONOCOPHILLIPS COM	$35,398,000	–	412,900	–	3.43%	–
HAS	New	HASBRO INC COM	$35,268,000	–	664,800	–	3.42%	–
PFE	New	PFIZER INC COM	$35,079,000	–	1,181,891	–	3.40%	–
TWO	New	TWO HBRS INVT CORP COM	$34,943,000	–	3,334,250	–	3.38%	–
MRK	New	MERCK & CO INC NEW COM	$34,545,000	–	597,150	–	3.35%	–
DOFSQ	New	DIAMOND OFFSHORE DRILLING IN COM	$34,536,000	–	695,875	–	3.34%	–
VIV	New	TELEFONICA BRASIL SA SPONSORED ADRsponsored adr	$34,393,000	–	1,676,900	–	3.33%	–
BMR	New	BIOMED REALTY TRUST INC COM	$34,268,000	–	1,569,748	–	3.32%	–
CA	New	CA INC COM	$33,767,000	–	1,174,900	–	3.27%	–
CSCO	New	CISCO SYS INC COM	$33,406,000	–	1,344,300	–	3.24%	–
MO	New	ALTRIA GROUP INC COM	$32,932,000	–	785,217	–	3.19%	–
RNA	New	PROSENSA HLDG N V SHS USD	$25,197,000	–	1,996,253	–	2.44%	–
CPL	New	CPFL ENERGIA S A SPONSORED ADRsponsored adr	$24,753,000	–	1,360,071	–	2.40%	–
KKR	New	KKR & CO L P DEL COM UNITS	$24,343,000	–	1,000,550	–	2.36%	–
ARCC	New	ARES CAP CORP COM	$16,758,000	–	938,300	–	1.62%	–
HPT	New	HOSPITALITY PPTYS TR COM SH BEN INTsh ben int	$16,377,000	–	538,709	–	1.59%	–
LO	New	LORILLARD INC COM	$15,125,000	–	248,068	–	1.46%	–
SPG	New	SIMON PPTY GROUP INC NEW COM	$7,318,000	–	44,011	–	0.71%	–
RWT	New	REDWOOD TR INC COM	$5,391,000	–	276,900	–	0.52%	–
VNO	New	VORNADO RLTY TR SH BEN INTsh ben int	$4,963,000	–	46,503	–	0.48%	–
PSA	New	PUBLIC STORAGE COM	$4,925,000	–	28,743	–	0.48%	–
EQR	New	EQUITY RESIDENTIAL SH BEN INTsh ben int	$4,389,000	–	69,665	–	0.42%	–
HCP	New	HCP INC COM	$4,049,000	–	97,857	–	0.39%	–
BXP	New	BOSTON PROPERTIES INC COM	$3,337,000	–	28,233	–	0.32%	–
HCN	New	HEALTH CARE REIT INC COM	$3,093,000	–	49,346	–	0.30%	–
VTR	New	VENTAS INC COM	$3,013,000	–	47,010	–	0.29%	–
PLD	New	PROLOGIS INC COM	$2,787,000	–	67,815	–	0.27%	–
	New	AVALONBAY CMNTYS INC COM	$2,425,000	–	17,057	–	0.24%	–
DLR	New	DIGITAL RLTY TR INC COM	$2,234,000	–	38,314	–	0.22%	–
KIM	New	KIMCO RLTY CORP COM	$2,173,000	–	94,550	–	0.21%	–
DRE	New	DUKE REALTY CORP COM NEW	$1,909,000	–	105,147	–	0.18%	–
SLG	New	SL GREEN RLTY CORP COM	$1,848,000	–	16,890	–	0.18%	–
AIV	New	APARTMENT INVT & MGMT CO CL Acl a	$1,783,000	–	55,251	–	0.17%	–
3101SC	New	COMMONWEALTH REIT COM SH BEN INTsh ben int	$1,739,000	–	66,075	–	0.17%	–
CBLAQ	New	CBL & ASSOC PPTYS INC COM	$1,725,000	–	90,782	–	0.17%	–
O	New	REALTY INCOME CORP COM	$1,560,000	–	35,109	–	0.15%	–
LPT	New	LIBERTY PPTY TR SH BEN INTsh ben int	$1,519,000	–	40,039	–	0.15%	–
FCEA	New	FOREST CITY ENTERPRISES INC CL Acl a	$1,479,000	–	74,426	–	0.14%	–
MAA	New	MID-AMER APT CMNTYS INC COM	$1,429,000	–	19,564	–	0.14%	–
CLI	New	MACK CALI RLTY CORP COM	$1,362,000	–	63,387	–	0.13%	–
SE	New	SPECTRA ENERGY CORP COM	$1,335,000	–	31,427	–	0.13%	–
FRT	New	FEDERAL REALTY INVT TR SH BEN INT NEWsh ben int new	$1,300,000	–	10,747	–	0.13%	–
SNH	New	SENIOR HSG PPTYS TR SH BEN INTsh ben int	$1,303,000	–	53,629	–	0.13%	–
CPT	New	CAMDEN PPTY TR SH BEN INTsh ben int	$1,293,000	–	18,173	–	0.12%	–
WRI	New	WEINGARTEN RLTY INVS SH BEN INTsh ben int	$1,264,000	–	38,486	–	0.12%	–
PDM	New	PIEDMONT OFFICE REALTY TR IN COM CL Acl a	$1,253,000	–	66,131	–	0.12%	–
DDR	New	DDR CORP COM	$1,210,000	–	68,608	–	0.12%	–
MXIM	New	MAXIM INTEGRATED PRODS INC COM	$1,187,000	–	35,100	–	0.12%	–
HME	New	HOME PROPERTIES INC COM	$1,165,000	–	18,217	–	0.11%	–
ESS	New	ESSEX PPTY TR INC COM	$1,146,000	–	6,198	–	0.11%	–
REG	New	REGENCY CTRS CORP COM	$1,097,000	–	19,697	–	0.11%	–
	New	ALEXANDRIA REAL ESTATE EQ IN COM	$1,098,000	–	14,137	–	0.11%	–
HIW	New	HIGHWOODS PPTYS INC COM	$1,094,000	–	26,080	–	0.11%	–
TCO	New	TAUBMAN CTRS INC COM	$1,082,000	–	14,272	–	0.10%	–
RPAI	New	RETAIL PPTYS AMER INC CL Acl a	$1,029,000	–	66,897	–	0.10%	–
BDN	New	BRANDYWINE RLTY TR SH BEN INT NEWsh ben int new	$969,000	–	62,131	–	0.09%	–
OHI	New	OMEGA HEALTHCARE INVS INC COM	$972,000	–	26,380	–	0.09%	–
NNN	New	NATIONAL RETAIL PPTYS INC COM	$949,000	–	25,515	–	0.09%	–
DPS	New	DR PEPPER SNAPPLE GROUP INC COM	$937,000	–	16,000	–	0.09%	–
ELS	New	EQUITY LIFESTYLE PPTYS INC COM	$916,000	–	20,745	–	0.09%	–
OFC	New	CORPORATE OFFICE PPTYS TR SH BEN INTsh ben int	$876,000	–	31,501	–	0.08%	–
WPG	New	WASHINGTON PRIME GROUP INC COM ADDED	$881,000	–	46,998	–	0.08%	–
EPR	New	EPR PPTYS COM SH BEN INTsh ben int	$880,000	–	15,742	–	0.08%	–
DEI	New	DOUGLAS EMMETT INC COM	$860,000	–	30,476	–	0.08%	–
RLJ	New	RLJ LODGING TR COM	$851,000	–	29,447	–	0.08%	–
	New	ASHFORD HOSPITALITY TR INC COM SHS	$832,000	–	72,134	–	0.08%	–
T104PS	New	AMERICAN RLTY CAP PPTYS INC COM	$792,000	–	63,214	–	0.08%	–
	New	AMERICAN CAMPUS CMNTYS INC COM	$796,000	–	20,811	–	0.08%	–
LXP	New	LEXINGTON REALTY TRUST COM	$795,000	–	72,237	–	0.08%	–
KRC	New	KILROY RLTY CORP COM	$787,000	–	12,631	–	0.08%	–
FCH	New	FELCOR LODGING TR INC COM	$733,000	–	69,765	–	0.07%	–
WRE	New	WASHINGTON REAL ESTATE INVT SH BEN INTsh ben int	$718,000	–	27,650	–	0.07%	–
EXR	New	EXTRA SPACE STORAGE INC COM	$712,000	–	13,368	–	0.07%	–
PSB	New	PS BUSINESS PKS INC CALIF COM	$693,000	–	8,298	–	0.07%	–
WPC	New	W P CAREY INC COM	$662,000	–	10,283	–	0.06%	–
EQY	New	EQUITY ONE COM	$656,000	–	27,818	–	0.06%	–
HR	New	HEALTHCARE RLTY TR COM	$639,000	–	25,123	–	0.06%	–
PEI	New	PENNSYLVANIA RL ESTATE INVT SH BEN INTsh ben int	$634,000	–	33,690	–	0.06%	–
SKT	New	TANGER FACTORY OUTLET CTRS I COM	$585,000	–	16,725	–	0.06%	–

VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. is a registered-investment adviser.

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