Pinnacle Holdings, LLC Activity Q4 2007-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
DIA	Sell	SPDR Dow Jones Industrial Average	$11,113,384	-3.3%	33,179	-0.8%	5.21%	+1.4%
UNH	Sell	UnitedHealth Group	$5,245,593	-4.5%	10,404	-8.9%	2.46%	+0.2%
UNTC	Sell	Unit Corp	$4,939,684	+11.4%	90,305	-2.5%	2.31%	+16.9%
QCRH	Sell	QCR Holdings	$4,115,410	+8.0%	84,819	-8.7%	1.93%	+13.3%
AMGN	Sell	Amgen	$4,092,409	+13.5%	15,227	-6.3%	1.92%	+19.1%
MSFT	Sell	Microsoft Corporation	$3,987,792	-12.8%	12,630	-6.0%	1.87%	-8.5%
OKE	Sell	ONEOK	$3,691,006	+1.7%	58,190	-1.0%	1.73%	+6.7%
TRGP	Sell	Targa Resources Corp	$3,568,272	+3.1%	41,627	-8.4%	1.67%	+8.3%
WMB	Sell	Williams Companies	$3,562,481	-3.1%	105,743	-6.1%	1.67%	+1.7%
AM	Sell	Antero Midstream	$3,395,512	-2.8%	283,432	-5.9%	1.59%	+2.0%
GS	Sell	The Goldman Sachs Group	$3,335,360	-9.1%	10,308	-9.4%	1.56%	-4.6%
HD	Sell	The Home Depot	$3,322,249	-11.3%	10,995	-8.8%	1.56%	-6.9%
	Sell	Kinetik Holdings	$3,280,861	-8.4%	97,211	-4.7%	1.54%	-3.9%
AAPL	Sell	Apple	$2,967,597	-21.0%	17,333	-10.5%	1.39%	-17.1%
MCD	Sell	McDonald's	$2,958,958	-19.0%	11,232	-8.3%	1.39%	-15.1%
CAT	Sell	Caterpillar	$2,849,301	+0.7%	10,437	-9.3%	1.34%	+5.6%
MPLX	Sell	MPLX	$2,792,996	+3.5%	78,521	-1.3%	1.31%	+8.6%
ARLP	Buy	Alliance Resource Partners	$2,752,355	+22.6%	122,164	+0.6%	1.29%	+28.7%
	Sell	Forum Energy Technologiesconv bond	$2,524,111	-6.8%	2,572,000	-5.9%	1.18%	-2.2%
HESM	Buy	Hess Midstream Partners	$2,450,873	-3.0%	84,136	+2.2%	1.15%	+1.8%
CVX	Sell	Chevron Corporation	$2,419,023	+0.1%	14,346	-6.6%	1.13%	+5.0%
V	Sell	Visa	$2,340,582	-12.2%	10,176	-9.4%	1.10%	-7.8%
SBFG	Sell	SB Financial Group	$2,213,024	+1.6%	163,928	-3.2%	1.04%	+6.6%
	Sell	Jetblue Airwaysconv bond	$2,160,815	-10.4%	2,795,000	-4.8%	1.01%	-5.9%
BA	Sell	The Boeing Company	$2,146,049	-16.5%	11,196	-8.0%	1.00%	-12.5%
EPD	Sell	Enterprise Products Partners	$2,098,951	+2.4%	76,688	-1.4%	0.98%	+7.4%
GEL	Buy	Genesis Energy	$2,032,318	+33.2%	196,930	+23.2%	0.95%	+39.8%
BHF	Sell	Brighthouse Financial	$1,977,665	-3.8%	40,410	-6.9%	0.93%	+1.0%
JNJ	Sell	Johnson & Johnson	$1,959,335	-12.3%	12,580	-6.8%	0.92%	-8.0%
HON	Sell	Honeywell International	$1,947,714	-19.1%	10,543	-9.1%	0.91%	-15.0%
SMMF	Sell	Summit Financial Group	$1,948,620	-2.3%	86,452	-10.4%	0.91%	+2.6%
JPM	Sell	JPMorgan	$1,914,989	-6.5%	13,205	-6.2%	0.90%	-1.9%
CRM	Sell	salesforce.com	$1,908,160	-13.7%	9,410	-10.1%	0.89%	-9.5%
	Sell	Vishay Intertechnologyconv bond	$1,900,793	-16.9%	1,880,000	-10.0%	0.89%	-12.8%
WMT	Sell	Wal-Mart Stores	$1,831,441	-2.3%	11,452	-4.0%	0.86%	+2.5%
TALO	Sell	Talos Energy	$1,822,538	+8.8%	110,860	-8.2%	0.85%	+14.2%
ENLC	Sell	EnLink Midstream	$1,807,804	+2.1%	147,938	-11.4%	0.85%	+7.2%
WGP	Sell	Western Midstream Partners	$1,769,106	+1.8%	64,969	-0.9%	0.83%	+6.8%
NMIH	Sell	NMI Holdings	$1,758,006	-3.1%	64,895	-7.7%	0.82%	+1.7%
	Sell	Zillow Groupconv bond	$1,754,087	-12.2%	1,705,000	-10.3%	0.82%	-7.8%
PG	Sell	Procter & Gamble	$1,729,316	-11.1%	11,856	-7.5%	0.81%	-6.7%
	Sell	WisdomTree Investmentsconv bond	$1,728,492	-6.4%	1,770,000	-7.3%	0.81%	-1.8%
ET	Sell	Energy Transfer	$1,717,485	+9.9%	122,415	-0.6%	0.80%	+15.3%
TRV	Sell	The Travelers Companies	$1,674,581	-14.8%	10,254	-9.4%	0.78%	-10.6%
ESTE	Sell	Earthstone Energy	$1,642,780	+29.7%	81,165	-8.4%	0.77%	+36.3%
KE	Sell	Kimball Electronics	$1,632,669	-11.2%	59,630	-10.4%	0.76%	-6.8%
	Sell	Greenbriarconv bond	$1,613,064	-11.0%	1,655,000	-9.8%	0.76%	-6.6%
	Sell	Homestreet	$1,608,908	+23.9%	206,535	-5.8%	0.75%	+30.0%
IBM	Sell	IBM	$1,584,408	-4.4%	11,293	-8.8%	0.74%	+0.3%
SFM	Sell	Sprouts Farmers Market	$1,571,488	+4.1%	36,717	-10.6%	0.74%	+9.2%
ETRN	Buy	Equitrans Midstream Corporation	$1,535,795	+7.7%	163,906	+9.9%	0.72%	+13.0%
AXP	Sell	American Express Company	$1,524,125	-25.2%	10,216	-12.7%	0.71%	-21.5%
CLF	Sell	Cleveland-Cliffs	$1,501,308	-15.0%	96,053	-8.8%	0.70%	-10.8%
AATRL	Sell	AMG Capital Trust IIconv pref	$1,494,500	-10.6%	30,500	-8.1%	0.70%	-6.2%
	Sell	The Cheesecake Factoryconv bond	$1,488,844	-8.8%	1,785,000	-7.3%	0.70%	-4.3%
NMM	Sell	Navios Maritime Partners	$1,490,343	-1.5%	64,433	-7.0%	0.70%	+3.3%
MOFG	Sell	MidWest One Financial Group	$1,472,197	-9.1%	72,415	-4.4%	0.69%	-4.6%
NYCBPRU	Sell	New York Community Bancorpconv pref	$1,433,271	-10.5%	39,300	-0.8%	0.67%	-6.0%
AMR	Sell	Alpha Metallurgical Resources	$1,425,684	+7.9%	5,489	-31.7%	0.67%	+13.2%
	Sell	Expro Group Holdings	$1,378,624	+19.5%	59,347	-8.8%	0.65%	+25.4%
	Sell	Shake Shackconv bond	$1,366,150	-14.5%	1,849,000	-6.6%	0.64%	-10.4%
NFE	New	New Fortress Energy	$1,317,756	–	40,200	–	0.62%	–
ASO	Sell	Academy Sports & Outdoors	$1,303,328	-21.2%	27,572	-9.9%	0.61%	-17.2%
ARCB	Sell	Arcbest	$1,288,515	-5.9%	12,676	-8.5%	0.60%	-1.1%
MRK	Sell	Merck	$1,250,328	-17.6%	12,145	-7.6%	0.59%	-13.4%
	Sell	EZCorpconv bond	$1,244,300	-7.9%	1,356,000	-8.4%	0.58%	-3.3%
YELP	Sell	Yelp	$1,240,214	+1.2%	29,820	-11.4%	0.58%	+6.2%
BACPRL	Sell	Bank of America Preferredconv pref	$1,208,972	-17.3%	1,087	-12.8%	0.57%	-13.2%
	Sell	LCI Industriesconv bond	$1,205,871	-13.0%	1,290,000	-10.4%	0.56%	-8.7%
MDC	Sell	MDC Holdings	$1,174,725	-20.7%	28,492	-10.0%	0.55%	-16.8%
FBMS	Sell	First Bancshares	$1,169,851	-6.7%	43,376	-10.6%	0.55%	-2.1%
AGX	Sell	Argan	$1,126,438	+7.0%	24,746	-7.4%	0.53%	+12.3%
BAC	Sell	Bank of America	$1,054,157	-5.8%	38,501	-1.3%	0.49%	-1.2%
FUNC	Sell	First United Corp	$1,044,825	+13.4%	64,396	-0.3%	0.49%	+19.2%
DKL	Sell	Delek Logistics Partners	$1,026,502	-24.2%	24,458	-1.4%	0.48%	-20.4%
CZWI	Sell	Citizens Community Bancorp	$979,162	+8.3%	101,996	-0.1%	0.46%	+13.9%
NKE	Sell	Nike	$959,547	-21.1%	10,035	-8.9%	0.45%	-17.1%
MMM	Sell	3M	$953,145	-15.4%	10,181	-9.6%	0.45%	-11.1%
PEBO	Sell	Peoples Bancorp	$949,133	-15.7%	37,397	-11.8%	0.44%	-11.4%
LZB	Sell	La-Z-Boy	$938,042	-2.0%	30,377	-9.1%	0.44%	+2.8%
EGY	Sell	Vaalco Energy	$900,464	+16.6%	205,117	-0.2%	0.42%	+22.3%
WLKP	Buy	Westlake Chemical Partners	$899,537	+17.6%	41,358	+17.3%	0.42%	+23.5%
PTSI	Buy	PAM Transporation Services	$868,120	-14.3%	40,284	+6.5%	0.41%	-10.0%
KMI	Sell	Kinder Morgan	$843,790	-18.8%	50,892	-15.7%	0.40%	-14.9%
DIS	Sell	Walt Disney	$838,260	-17.4%	10,343	-9.0%	0.39%	-13.2%
ONB	Sell	Old National Bancorp	$827,806	+3.6%	56,933	-0.6%	0.39%	+8.7%
	Buy	Jackson Financial	$824,979	+35.2%	21,585	+8.3%	0.39%	+42.3%
CSCO	Sell	Cisco Systems	$789,251	-0.4%	14,681	-4.1%	0.37%	+4.5%
HWBK	Buy	Hawthorn Bancshares	$781,770	-7.9%	48,109	+1.7%	0.37%	-3.4%
CEQP	Sell	Crestwood Equity Partners	$753,246	+10.1%	25,752	-0.3%	0.35%	+15.7%
HMNF	Sell	HMN Financial	$749,896	-9.5%	39,200	-11.3%	0.35%	-5.1%
EAF	Sell	Graftech International	$726,892	-27.6%	189,789	-4.7%	0.34%	-23.9%
LGIH	Sell	LGI Homes	$712,249	-32.1%	7,159	-7.9%	0.33%	-28.6%
CVLY	Sell	Codorus Bancorp	$673,822	-5.2%	36,149	-0.3%	0.32%	-0.3%
BRKB	New	Berkshire Hathaway	$645,603	–	1,843	–	0.30%	–
KO	Sell	The Coca-Cola Company	$632,406	-14.7%	11,297	-8.2%	0.30%	-10.6%
BG	Buy	Bunge Ltd	$629,544	+375.0%	5,816	+314.0%	0.30%	+400.0%
DOW	Sell	Dow Inc.	$619,548	-10.6%	12,016	-7.6%	0.29%	-6.1%
UBOH	Sell	United Bancshares	$616,567	-17.3%	34,795	-12.5%	0.29%	-13.2%
HEAR	Sell	Turtle Beach Corp	$566,353	-27.1%	62,408	-6.5%	0.26%	-23.6%
INTC	Sell	Intel Corporation	$546,937	-0.4%	15,385	-6.3%	0.26%	+4.5%
SUP	Sell	Superior Industries International	$499,416	-20.6%	164,282	-6.0%	0.23%	-16.7%
EBMT	Sell	Eagle Bancorp Montana	$460,411	-15.8%	38,690	-6.4%	0.22%	-11.5%
VZ	Sell	Verizon	$452,022	-18.7%	13,947	-6.7%	0.21%	-14.5%
SLYV	Buy	SPDR S&P 600 Small Cap Value ETF	$427,996	-5.3%	5,914	+1.0%	0.20%	-0.5%
NTGR	Sell	NETGEAR	$425,630	-18.0%	33,807	-7.8%	0.20%	-14.2%
XOM	Buy	Exxon Mobil Corporation	$415,880	+14.1%	3,537	+4.1%	0.20%	+19.6%
ORCL	Buy	Oracle Corporation	$395,823	-10.9%	3,737	+0.2%	0.18%	-6.6%
UIS	Buy	Unisys Corp	$376,602	-12.3%	109,160	+1.2%	0.18%	-8.3%
FMCKI	Buy	Freddie Macpref stk	$344,010	+8.2%	172,005	+0.6%	0.16%	+13.4%
	Sell	EZCorpconv bond	$317,815	-2.4%	310,000	-1.6%	0.15%	+2.8%
	Buy	Unit Corpwarrant	$301,773	+99.0%	72,629	+85.6%	0.14%	+107.4%
SFBC	Sell	Sounds Financial	$293,542	+1.5%	7,940	-2.6%	0.14%	+7.0%
WBA	Sell	Walgreens Boots Alliance	$253,603	-28.6%	11,403	-8.6%	0.12%	-25.2%
HGTXU	Buy	Hugoton Royalty Trust	$250,729	+0.1%	369,194	+32.6%	0.12%	+4.5%
MESA	Sell	Mesa Air Group	$240,538	-66.5%	280,021	-0.5%	0.11%	-64.8%
FMCC	Sell	Freddie Mac	$233,688	+33.2%	394,743	-2.4%	0.11%	+39.7%
GE	New	General Electric	$193,863	–	1,754	–	0.09%	–
PFE	Sell	Pfizer	$179,516	-14.7%	5,412	-5.7%	0.08%	-10.6%
MA	Sell	Mastercard	$161,531	-1.5%	408	-2.2%	0.08%	+4.1%
DVN	Sell	Devon Energy	$161,576	-2.7%	3,387	-1.4%	0.08%	+2.7%
UPS	Buy	United Parcel Service	$140,906	-12.0%	904	+1.2%	0.07%	-7.0%
COG	New	Coterra Energy	$129,461	–	4,786	–	0.06%	–
BANC	Buy	Banc of California	$103,992	+66.3%	8,400	+55.6%	0.05%	+75.0%
VET	New	Vermilion Energy	$95,805	–	6,553	–	0.04%	–
F	Buy	Ford	$92,895	+12.2%	7,479	+36.7%	0.04%	+18.9%
FNB	Sell	F.N.B. Corporation	$82,576	-23.4%	7,653	-18.8%	0.04%	-18.8%
DAC	New	Danaos Corp	$78,669	–	1,188	–	0.04%	–
	New	Chesapeake Energyconv bond	$55,160	–	2,758,000	–	0.03%	–
URA	Sell	Global X Uranium ETF	$51,160	+5.7%	1,892	-15.2%	0.02%	+9.1%
BANF	New	BancFirst Corporation	$31,223	–	360	–	0.02%	–
BOKF	New	BOK Financial	$25,754	–	322	–	0.01%	–
BSVN	New	Bank7 Corp	$23,838	–	1,059	–	0.01%	–
	New	Proshs Ushort Nat Gas	$13,291	–	218	–	0.01%	–
HTZZW	New	Hertz Global Holdingswarrant	$9,180	–	1,500	–	0.00%	–
M	New	Macy's	$4,644	–	400	–	0.00%	–
TNK	Exit	Teekay Tankers	$0	–	-261	–	-0.00%	–
	Exit	Algoma Steel	$0	–	-1,816	–	-0.01%	–
HA	Exit	Hawaiian Holdings	$0	–	-1,231	–	-0.01%	–
UCO	Exit	ProShares Ultra DJ AIG Crude Oil	$0	–	-1,711	–	-0.02%	–
BHLB	Exit	Berkshire Hills Bancorp	$0	–	-2,077	–	-0.02%	–
AJRD	Exit	Aerojet Rocketdyne Holdings	$0	–	-800	–	-0.02%	–
TK	Exit	Teekay Inc	$0	–	-9,905	–	-0.03%	–
ALLY	Exit	Ally Financial	$0	–	-2,965	–	-0.04%	–
SNDR	Exit	Schneider Natl	$0	–	-3,086	–	-0.04%	–
PANL	Exit	Pangaea Logistics Solutions	$0	–	-13,909	–	-0.04%	–
BMA	Exit	Banco Macro SA	$0	–	-4,443	–	-0.05%	–
	Exit	Contura Energywarrant	$0	–	-3,600	–	-0.23%	–
MMP	Exit	Magellan Midstream Partners	$0	–	-40,014	–	-1.11%	–

Q2 2023

			Value		Shares		↓ Weighting
DIA	New	SPDR Dow Jones Industrial Average	$11,497,944	–	33,439	–	5.13%	–
UNH	New	UnitedHealth Group	$5,491,793	–	11,426	–	2.45%	–
MSFT	New	Microsoft Corporation	$4,574,329	–	13,433	–	2.04%	–
UNTC	New	Unit Corp	$4,435,220	–	92,632	–	1.98%	–
QCRH	New	QCR Holdings	$3,810,724	–	92,877	–	1.70%	–
AAPL	New	Apple	$3,756,605	–	19,367	–	1.68%	–
HD	New	The Home Depot	$3,745,697	–	12,058	–	1.67%	–
WMB	New	Williams Companies	$3,675,857	–	112,653	–	1.64%	–
GS	New	The Goldman Sachs Group	$3,668,893	–	11,375	–	1.64%	–
MCD	New	McDonald's	$3,654,926	–	12,248	–	1.63%	–
OKE	New	ONEOK	$3,627,902	–	58,780	–	1.62%	–
AMGN	New	Amgen	$3,606,937	–	16,246	–	1.61%	–
	New	Kinetik Holdings	$3,582,839	–	101,959	–	1.60%	–
AM	New	Antero Midstream	$3,494,926	–	301,287	–	1.56%	–
TRGP	New	Targa Resources Corp	$3,459,429	–	45,459	–	1.54%	–
CAT	New	Caterpillar	$2,830,559	–	11,504	–	1.26%	–
	New	Forum Energy Technologiesconv bond	$2,708,422	–	2,732,000	–	1.21%	–
MPLX	New	MPLX	$2,698,776	–	79,516	–	1.20%	–
V	New	Visa	$2,666,663	–	11,229	–	1.19%	–
BA	New	The Boeing Company	$2,570,873	–	12,175	–	1.15%	–
HESM	New	Hess Midstream Partners	$2,525,884	–	82,330	–	1.13%	–
MMP	New	Magellan Midstream Partners	$2,493,673	–	40,014	–	1.11%	–
CVX	New	Chevron Corporation	$2,416,581	–	15,358	–	1.08%	–
	New	Jetblue Airwaysconv bond	$2,410,381	–	2,935,000	–	1.08%	–
HON	New	Honeywell International	$2,406,793	–	11,599	–	1.07%	–
	New	Vishay Intertechnologyconv bond	$2,288,383	–	2,090,000	–	1.02%	–
ARLP	New	Alliance Resource Partners	$2,244,242	–	121,376	–	1.00%	–
JNJ	New	Johnson & Johnson	$2,235,348	–	13,505	–	1.00%	–
CRM	New	salesforce.com	$2,212,315	–	10,472	–	0.99%	–
SBFG	New	SB Financial Group	$2,178,583	–	169,408	–	0.97%	–
BHF	New	Brighthouse Financial	$2,056,268	–	43,427	–	0.92%	–
EPD	New	Enterprise Products Partners	$2,049,582	–	77,783	–	0.92%	–
JPM	New	JPMorgan	$2,047,359	–	14,077	–	0.91%	–
AXP	New	American Express Company	$2,037,966	–	11,699	–	0.91%	–
	New	Zillow Groupconv bond	$1,997,261	–	1,900,000	–	0.89%	–
SMMF	New	Summit Financial Group	$1,993,495	–	96,491	–	0.89%	–
TRV	New	The Travelers Companies	$1,966,005	–	11,321	–	0.88%	–
PG	New	Procter & Gamble	$1,945,003	–	12,818	–	0.87%	–
WMT	New	Wal-Mart Stores	$1,874,026	–	11,923	–	0.84%	–
	New	WisdomTree Investmentsconv bond	$1,847,566	–	1,910,000	–	0.82%	–
KE	New	Kimball Electronics	$1,838,694	–	66,547	–	0.82%	–
NMIH	New	NMI Holdings	$1,814,655	–	70,281	–	0.81%	–
	New	Greenbriar Coconv bond	$1,811,894	–	1,835,000	–	0.81%	–
ENLC	New	EnLink Midstream	$1,770,127	–	166,993	–	0.79%	–
CLF	New	Cleveland-Cliffs	$1,765,850	–	105,361	–	0.79%	–
WGP	New	Western Midstream Partners	$1,738,174	–	65,542	–	0.78%	–
TALO	New	Talos Energy	$1,674,733	–	120,745	–	0.75%	–
AATRL	New	AMG Capitalconv pref	$1,670,906	–	33,206	–	0.75%	–
IBM	New	International Business Machines	$1,657,504	–	12,387	–	0.74%	–
ASO	New	Academy Sports & Outdoors	$1,653,822	–	30,598	–	0.74%	–
	New	The Cheesecake Factoryconv bond	$1,632,094	–	1,925,000	–	0.73%	–
MOFG	New	MidWest One Financial Group	$1,618,884	–	75,755	–	0.72%	–
NYCBPRU	New	New York Community Bancorpconv pref	$1,601,820	–	39,600	–	0.72%	–
	New	Shake Shack Incconv bond	$1,598,705	–	1,979,000	–	0.71%	–
ET	New	Energy Transfer	$1,563,436	–	123,105	–	0.70%	–
GEL	New	Genesis Energy	$1,526,061	–	159,797	–	0.68%	–
MRK	New	Merck	$1,516,571	–	13,143	–	0.68%	–
NMM	New	Navios Maritime Partners	$1,513,295	–	69,258	–	0.68%	–
SFM	New	Sprouts Farmers Market	$1,509,126	–	41,087	–	0.67%	–
MDC	New	MDC Holdings	$1,480,645	–	31,658	–	0.66%	–
BACPRL	New	Bank of Americaconv pref	$1,461,260	–	1,247	–	0.65%	–
ETRN	New	Equitrans Midstream Corporation	$1,426,111	–	149,175	–	0.64%	–
	New	LCI Industriesconv bond	$1,386,631	–	1,440,000	–	0.62%	–
ARCB	New	Arcbest Corp	$1,369,467	–	13,861	–	0.61%	–
DKL	New	Delek Logistics Partners	$1,354,135	–	24,801	–	0.60%	–
	New	EZCorp Incconv bond	$1,351,755	–	1,481,000	–	0.60%	–
C	New	Citigroup	$1,347,545	–	29,269	–	0.60%	–
AMR	New	Alpha Metallurgical Resources	$1,321,306	–	8,039	–	0.59%	–
	New	Homestreet	$1,298,434	–	219,330	–	0.58%	–
NYCB	New	New York Community Bancorp	$1,300,187	–	115,675	–	0.58%	–
ESTE	New	Earthstone Energy	$1,266,751	–	88,646	–	0.56%	–
FBMS	New	First Bancshares	$1,253,653	–	48,516	–	0.56%	–
YELP	New	Yelp	$1,225,306	–	33,653	–	0.55%	–
NKE	New	Nike	$1,215,505	–	11,013	–	0.54%	–
	New	Expro Group Holdings	$1,153,265	–	65,083	–	0.52%	–
MMM	New	3M Co	$1,127,314	–	11,263	–	0.50%	–
PEBO	New	Peoples Bancorp	$1,125,637	–	42,397	–	0.50%	–
BAC	New	Bank of America	$1,119,484	–	39,020	–	0.50%	–
AGX	New	Argan Inc	$1,052,956	–	26,718	–	0.47%	–
LGIH	New	LGI Homes	$1,048,905	–	7,776	–	0.47%	–
KMI	New	Kinder Morgan	$1,039,399	–	60,360	–	0.46%	–
CIVB	New	Civista Bancshares	$1,035,909	–	59,535	–	0.46%	–
DIS	New	Walt Disney Co	$1,014,444	–	11,363	–	0.45%	–
PTSI	New	PAM Transporation Services	$1,012,950	–	37,839	–	0.45%	–
EAF	New	Graftech International	$1,004,003	–	199,207	–	0.45%	–
LZB	New	La-Z-Boy	$957,407	–	33,429	–	0.43%	–
FUNC	New	First United Corp	$921,495	–	64,621	–	0.41%	–
CZWI	New	Citizens Community Bancorp	$903,719	–	102,114	–	0.40%	–
ESSA	New	Essa Bancorp	$896,865	–	59,991	–	0.40%	–
PKBK	New	Parke Bancorp	$857,146	–	50,450	–	0.38%	–
HWBK	New	Hawthorn Bancshares	$848,874	–	47,291	–	0.38%	–
PFBX	New	Peoples Financial	$829,076	–	68,803	–	0.37%	–
HMNF	New	HMN Financial	$828,308	–	44,200	–	0.37%	–
FCCO	New	First Community Corp	$821,736	–	47,335	–	0.37%	–
OCFC	New	OceanFirst Financial	$813,193	–	52,061	–	0.36%	–
ONB	New	Old National Bancorp	$798,776	–	57,301	–	0.36%	–
CSCO	New	Cisco Systems	$792,088	–	15,309	–	0.35%	–
HEAR	New	Turtle Beach Corp	$777,300	–	66,721	–	0.35%	–
EGY	New	Vaalco Energy	$772,507	–	205,454	–	0.34%	–
WLKP	New	Westlake Chemical Partners	$764,746	–	35,258	–	0.34%	–
UBOH	New	United Bancshares	$745,969	–	39,785	–	0.33%	–
KO	New	The Coca-Cola Company	$741,128	–	12,307	–	0.33%	–
MESA	New	Mesa Air Group	$717,975	–	281,559	–	0.32%	–
CVLY	New	Codorus Bancorp	$710,848	–	36,249	–	0.32%	–
DOW	New	Dow Inc	$692,916	–	13,010	–	0.31%	–
CEQP	New	Crestwood Equity Partners	$684,296	–	25,842	–	0.30%	–
PEBK	New	Peoples Bancorp	$633,933	–	34,889	–	0.28%	–
SUP	New	Superior Industries	$629,142	–	174,762	–	0.28%	–
	New	Pacwest Bancorppref stk	$626,531	–	41,084	–	0.28%	–
	New	Jackson Financial	$610,210	–	19,935	–	0.27%	–
HOPE	New	Hope Bancorp	$602,215	–	71,522	–	0.27%	–
FRST	New	Primis Financial	$580,652	–	68,961	–	0.26%	–
VZ	New	Verizon	$556,139	–	14,954	–	0.25%	–
INTC	New	Intel Corporation	$549,352	–	16,428	–	0.24%	–
EBMT	New	Eagle Bancorp Montana	$546,981	–	41,344	–	0.24%	–
CUBI	New	Customers Bancorp	$535,753	–	17,705	–	0.24%	–
	New	Contura Energywarrant	$522,000	–	3,600	–	0.23%	–
NTGR	New	NETGEAR	$519,006	–	36,653	–	0.23%	–
	New	Coupa Softwareconv bond	$499,750	–	500,000	–	0.22%	–
FUSB	New	First US Bancshares	$485,717	–	56,809	–	0.22%	–
	New	Five9conv bond	$482,000	–	500,000	–	0.22%	–
SLYV	New	SPDR S&P 600 Small Cap Value	$452,179	–	5,858	–	0.20%	–
ORCL	New	Oracle Corporation	$444,325	–	3,731	–	0.20%	–
UIS	New	Unisys Corp	$429,454	–	107,903	–	0.19%	–
	New	Oktaconv bond	$426,750	–	500,000	–	0.19%	–
	New	Cloudfareconv bond	$424,250	–	500,000	–	0.19%	–
	New	Blackline Corpconv bond	$423,125	–	500,000	–	0.19%	–
SBT	New	Sterling Bancorp	$422,361	–	77,214	–	0.19%	–
	New	Bill.com Holdingsconv bond	$410,000	–	500,000	–	0.18%	–
XOM	New	Exxon Mobil Corporation	$364,543	–	3,399	–	0.16%	–
ZION	New	Zions Bancorp	$361,777	–	13,469	–	0.16%	–
WBA	New	Walgreens Boots Alliance	$355,270	–	12,470	–	0.16%	–
CVCY	New	Central Valley Community Bancorp	$342,310	–	22,156	–	0.15%	–
	New	EZCorp Incconv bond	$325,751	–	315,000	–	0.14%	–
FMCKI	New	Freddie Macpref stk	$318,069	–	171,005	–	0.14%	–
CFG	New	Citizens Financial Group	$313,612	–	12,025	–	0.14%	–
FITB	New	Fifth Third Bancorp	$304,691	–	11,625	–	0.14%	–
AAL	New	American Airlines Group	$296,835	–	16,546	–	0.13%	–
SFBC	New	Sounds Financial Banc	$289,325	–	8,150	–	0.13%	–
TFC	New	Truist Financial	$269,113	–	8,867	–	0.12%	–
THFF	New	The First Financial Corp	$267,949	–	8,252	–	0.12%	–
DB	New	Deutsche Bank	$262,197	–	24,900	–	0.12%	–
HGTXU	New	Hugoton Royalty Trust	$250,503	–	278,337	–	0.11%	–
HWC	New	Hancock Whitney Corporation	$240,144	–	6,257	–	0.11%	–
PFE	New	Pfizer	$210,433	–	5,737	–	0.09%	–
PACW	New	Pacwest Bancorp	$201,248	–	24,693	–	0.09%	–
TIP	New	iShares Barclays TIPS Bond	$198,711	–	1,846	–	0.09%	–
LBAI	New	Lakeland Bancorp	$188,719	–	14,094	–	0.08%	–
IYF	New	iShares DJ US Financial Sector	$182,944	–	2,452	–	0.08%	–
EEM	New	iShares MSCI Emerging Markets Index	$182,569	–	4,615	–	0.08%	–
FMCC	New	Freddie Mac	$175,483	–	404,618	–	0.08%	–
DVN	New	Devon Energy Corporation	$166,016	–	3,434	–	0.07%	–
MA	New	Mastercard	$164,006	–	417	–	0.07%	–
UPS	New	United Parcel Service	$160,070	–	893	–	0.07%	–
	New	Unit Corpwarrant	$151,637	–	39,132	–	0.07%	–
NOBL	New	ProShares S&P 500 Dividend Aristocrat	$148,020	–	1,570	–	0.07%	–
MMMB	New	MamaMancini's Holdings	$144,960	–	48,000	–	0.06%	–
BG	New	Bunge Ltd	$132,548	–	1,405	–	0.06%	–
SD	New	SandRidge Energy	$120,231	–	7,884	–	0.05%	–
BMA	New	Banco Macro SA	$117,251	–	4,443	–	0.05%	–
FNB	New	F.N.B. Corporation	$107,776	–	9,421	–	0.05%	–
CVBF	New	CVB Financial	$101,924	–	7,675	–	0.04%	–
IRDM	New	Iridium Communications	$94,919	–	1,528	–	0.04%	–
PANL	New	Pangaea Logistics Solutions	$94,164	–	13,909	–	0.04%	–
WFC	New	Wells Fargo & Company	$95,048	–	2,227	–	0.04%	–
SNDR	New	Schneider Natl	$88,630	–	3,086	–	0.04%	–
PAA	New	Plains All American Pipeline	$90,409	–	6,412	–	0.04%	–
F	New	Ford Motor	$82,782	–	5,471	–	0.04%	–
ALLY	New	Ally Financial	$80,085	–	2,965	–	0.04%	–
NRZ	New	Rithm Capital Corp	$76,679	–	8,201	–	0.03%	–
WIRE	New	Encore Wire Corp	$74,372	–	400	–	0.03%	–
	New	Jackson Financialpref stk	$74,820	–	3,000	–	0.03%	–
PAGP	New	Plains GP Holdings	$72,178	–	4,867	–	0.03%	–
	New	McDermott International Ltd	$69,842	–	388,010	–	0.03%	–
AZN	New	Astrazeneca	$64,413	–	900	–	0.03%	–
	New	American Airlinesconv bond	$64,077	–	50,000	–	0.03%	–
BANC	New	Banc of California	$62,532	–	5,400	–	0.03%	–
TK	New	Teekay Inc	$59,826	–	9,905	–	0.03%	–
TSM	New	Taiwan Semiconductor Manufacturing	$50,460	–	500	–	0.02%	–
FNMA	New	Federal National Mortgage Association	$51,915	–	117,988	–	0.02%	–
URA	New	Global X Uranium	$48,413	–	2,231	–	0.02%	–
AJRD	New	Aerojet Rocketdyne Holdings	$43,896	–	800	–	0.02%	–
GNK	New	Genco Shipping & Trading	$42,090	–	3,000	–	0.02%	–
BHLB	New	Berkshire Hills Bancorp	$43,056	–	2,077	–	0.02%	–
UCO	New	ProShares Ultra DJ AIG Crude Oil	$40,465	–	1,711	–	0.02%	–
UNIT	New	Uniti Group	$38,138	–	8,255	–	0.02%	–
NM	New	Navios Maritime Holdings	$30,078	–	18,340	–	0.01%	–
	New	Financial Sector SPDR	$27,710	–	822	–	0.01%	–
	New	Palantir Technologies	$24,528	–	1,600	–	0.01%	–
SE	New	Sea Ltd	$22,868	–	394	–	0.01%	–
EOG	New	EOG Resources Inc	$22,888	–	200	–	0.01%	–
SWN	New	Southwestern Energy	$18,030	–	3,000	–	0.01%	–
AMJ	New	JP Morgan Chase Alerian	$18,763	–	819	–	0.01%	–
	New	Algoma Steel	$12,894	–	1,816	–	0.01%	–
HA	New	Hawaiian Holdings	$13,258	–	1,231	–	0.01%	–
HTZZ	New	Hertz Global Holdings Inc	$13,793	–	750	–	0.01%	–
FNMAS	New	Fannie Maepref stk	$14,100	–	6,000	–	0.01%	–
CDNA	New	CareDx Inc	$10,982	–	1,292	–	0.01%	–
TNK	New	Teekay Tankers	$9,978	–	261	–	0.00%	–
EZPW	New	EZCORP Inc	$8,380	–	1,000	–	0.00%	–
MCDTF	New	McDermottwarrant	$652	–	65,197	–	0.00%	–
MCDBF	New	McDermottwarrant	$724	–	72,441	–	0.00%	–

Q4 2022

			Value		Shares		↓ Weighting
MCDTF	Exit	McDermottwarrant	$0	–	-65,197	–	0.00%	–
MCDBF	Exit	McDermottwarrant	$0	–	-72,441	–	0.00%	–
	Exit	Palantir Technologies	$0	–	-1,200	–	-0.01%	–
GM	Exit	General Motors	$0	–	-400	–	-0.01%	–
GNK	Exit	Genco Shipping	$0	–	-1,000	–	-0.01%	–
HA	Exit	Hawaiian Holdings	$0	–	-1,231	–	-0.01%	–
TNK	Exit	Teekay Tankers	$0	–	-636	–	-0.01%	–
BOIL	Exit	Bloomberg Natural Gas	$0	–	-300	–	-0.01%	–
AMJ	Exit	JP Morgan Chase Alerian ETN	$0	–	-819	–	-0.01%	–
SWN	Exit	Southwestern Energy Company	$0	–	-3,000	–	-0.01%	–
PAGP	Exit	Plains GP Holdings	$0	–	-1,850	–	-0.01%	–
GOLD	Exit	Barrick Gold	$0	–	-1,239	–	-0.01%	–
AMR	Exit	Alpha Metallurgical Resources	$0	–	-150	–	-0.01%	–
FNMAS	Exit	Fannie Maepref stk	$0	–	-6,000	–	-0.01%	–
CDNA	Exit	CareDx	$0	–	-1,431	–	-0.01%	–
	Exit	Financial Sector SPDR	$0	–	-822	–	-0.01%	–
	Exit	Direxion Daily Real Estate	$0	–	-391	–	-0.01%	–
PYYX	Exit	Pyxus Intternational	$0	–	-55,244	–	-0.01%	–
LBRDK	Exit	Liberty Broadband	$0	–	-403	–	-0.01%	–
GO	Exit	Grocery Outlet	$0	–	-994	–	-0.02%	–
BANF	Exit	BancFirst Corporation	$0	–	-360	–	-0.02%	–
BACPRL	Exit	Bank of Americaconv pref	$0	–	-29	–	-0.02%	–
NM	Exit	Navios Maritime Holdings	$0	–	-18,429	–	-0.02%	–
CHRW	Exit	CH Robinson Worldwide	$0	–	-383	–	-0.02%	–
LPL	Exit	LG Display	$0	–	-8,763	–	-0.02%	–
FNMA	Exit	Federal National Mortgage Association	$0	–	-77,988	–	-0.02%	–
F	Exit	Ford	$0	–	-3,679	–	-0.02%	–
SIRI	Exit	Sirius XM Holdings	$0	–	-6,940	–	-0.02%	–
TK	Exit	Teekay	$0	–	-11,705	–	-0.02%	–
DAC	Exit	Danaos Corp	$0	–	-774	–	-0.02%	–
NEM	Exit	Newmont Mining	$0	–	-1,056	–	-0.02%	–
	Exit	Algoma Steel	$0	–	-7,266	–	-0.02%	–
AZN	Exit	Astrazeneca	$0	–	-900	–	-0.02%	–
X	Exit	United States Steel	$0	–	-2,756	–	-0.02%	–
	Exit	American Airlinesconv bond	$0	–	-50,000	–	-0.02%	–
	Exit	Pacwest Bancorppref stk	$0	–	-2,000	–	-0.02%	–
	Exit	Microchip Technology	$0	–	-913	–	-0.03%	–
BHLB	Exit	Berkshire Hills Bancorp	$0	–	-2,077	–	-0.03%	–
PAA	Exit	Plains All American Pipeline	$0	–	-5,830	–	-0.03%	–
QQQ	Exit	PowerShares QQQ Trust	$0	–	-246	–	-0.03%	–
IRDM	Exit	Iridium Communications	$0	–	-1,578	–	-0.03%	–
	Exit	FedEx Corporation	$0	–	-474	–	-0.03%	–
SNDR	Exit	Schneider Natl	$0	–	-3,432	–	-0.03%	–
LOW	Exit	Lowe's	$0	–	-406	–	-0.04%	–
MO	Exit	Altria Group	$0	–	-2,081	–	-0.04%	–
CHK	Exit	Chesapeake Energy Corporation	$0	–	-1,038	–	-0.05%	–
GE	Exit	General Electric	$0	–	-1,797	–	-0.05%	–
MA	Exit	Mastercard	$0	–	-400	–	-0.05%	–
FNB	Exit	F.N.B. Corporation	$0	–	-9,856	–	-0.05%	–
NOBL	Exit	ProShares S&P 500 Dividend Aristocrat	$0	–	-1,570	–	-0.06%	–
SD	Exit	SandRidge Energy	$0	–	-8,020	–	-0.06%	–
BANC	Exit	Banc of California	$0	–	-8,512	–	-0.06%	–
FMCC	Exit	Freddie Mac	$0	–	-265,653	–	-0.06%	–
UPS	Exit	United Parcel Service	$0	–	-893	–	-0.07%	–
IYF	Exit	iShares DJ US Financial Sector	$0	–	-2,452	–	-0.08%	–
NVDA	Exit	Nvidia	$0	–	-1,420	–	-0.08%	–
	Exit	McDermott International	$0	–	-388,010	–	-0.08%	–
CHKEL	Exit	Chesapeake Energy Corporationwarrant	$0	–	-2,467	–	-0.08%	–
DB	Exit	Deutsche Bank	$0	–	-24,900	–	-0.09%	–
BG	Exit	Bunge	$0	–	-2,248	–	-0.09%	–
	Exit	Unit Corpwarrant	$0	–	-19,312	–	-0.09%	–
TIP	Exit	iShares Barclays TIPS Bond	$0	–	-1,846	–	-0.09%	–
AAL	Exit	American Airlines Group	$0	–	-16,546	–	-0.09%	–
DVN	Exit	Devon Energy	$0	–	-3,583	–	-0.10%	–
ORCL	Exit	Oracle	$0	–	-3,562	–	-0.10%	–
GRPN	Exit	Groupon	$0	–	-27,826	–	-0.10%	–
PFE	Exit	Pfizer	$0	–	-5,167	–	-0.11%	–
LBAI	Exit	Lakeland Bancorp	$0	–	-14,094	–	-0.11%	–
UNIT	Exit	Uniti Group	$0	–	-34,755	–	-0.11%	–
FITB	Exit	Fifth Third Bancorp	$0	–	-8,535	–	-0.13%	–
HWC	Exit	Hancock Whitney Corporation	$0	–	-6,281	–	-0.14%	–
TFC	Exit	Truist Financial	$0	–	-7,143	–	-0.15%	–
	Exit	EZCorpconv bond	$0	–	-320,000	–	-0.16%	–
SFBC	Exit	Sounds Financial	$0	–	-8,310	–	-0.16%	–
XOM	Exit	Exxon Mobil	$0	–	-3,852	–	-0.16%	–
CVCY	Exit	Central Valley Community Bancorp	$0	–	-19,671	–	-0.16%	–
MESA	Exit	Mesa Air Group	$0	–	-216,744	–	-0.17%	–
CFG	Exit	Citizens Financial Group	$0	–	-10,515	–	-0.17%	–
THFF	Exit	The First Financial Corp	$0	–	-8,056	–	-0.17%	–
	Exit	Coupa Softwareconv bond	$0	–	-500,000	–	-0.18%	–
BOKF	Exit	BOK Financial	$0	–	-4,327	–	-0.18%	–
	Exit	Oktaconv bond	$0	–	-500,000	–	-0.18%	–
	Exit	Cloudfareconv bond	$0	–	-500,000	–	-0.18%	–
SLYV	Exit	SPDR S&P 600 Small Cap Value	$0	–	-5,855	–	-0.18%	–
SBT	Exit	Sterling Bancorp	$0	–	-65,341	–	-0.18%	–
	Exit	Bill.com Holdingsconv bond	$0	–	-500,000	–	-0.19%	–
	Exit	Blackline Corpconv bond	$0	–	-500,000	–	-0.19%	–
PACW	Exit	Pacwest Bancorp	$0	–	-17,963	–	-0.19%	–
FUSB	Exit	First US Bancshares	$0	–	-52,286	–	-0.20%	–
FMCKI	Exit	Freddie Macpref stk	$0	–	-172,005	–	-0.20%	–
WBA	Exit	Walgreens Boots Alliance	$0	–	-14,190	–	-0.21%	–
HGTXU	Exit	Hugoton Royalty Trust	$0	–	-226,120	–	-0.21%	–
	Exit	Five9conv bond	$0	–	-500,000	–	-0.21%	–
HEAR	Exit	Turtle Beach	$0	–	-67,661	–	-0.22%	–
CUBI	Exit	Customers Bancorp	$0	–	-15,650	–	-0.22%	–
INTC	Exit	Intel Corporation	$0	–	-18,048	–	-0.22%	–
	Exit	Homestreet	$0	–	-16,535	–	-0.22%	–
SUP	Exit	Superior Industries	$0	–	-160,228	–	-0.23%	–
BRKB	Exit	Berkshire Hathaway	$0	–	-1,961	–	-0.24%	–
	Exit	Jackson Financial	$0	–	-19,535	–	-0.25%	–
ZION	Exit	Zions Bancorp	$0	–	-11,461	–	-0.27%	–
VZ	Exit	Verizon Communications	$0	–	-15,623	–	-0.28%	–
LGIH	Exit	LGI Homes	$0	–	-7,286	–	-0.28%	–
CSCO	Exit	Cisco Systems	$0	–	-15,773	–	-0.30%	–
NTGR	Exit	NETGEAR	$0	–	-31,920	–	-0.30%	–
UIS	Exit	Unisys	$0	–	-85,081	–	-0.30%	–
DOW	Exit	Dow	$0	–	-14,730	–	-0.30%	–
USX	Exit	US Xpress Enterprises	$0	–	-266,210	–	-0.31%	–
CVLY	Exit	Codorus Bancorp	$0	–	-36,954	–	-0.33%	–
CEQP	Exit	Crestwood Equity Partners	$0	–	-25,165	–	-0.33%	–
WLKP	Exit	Westlake Chemical Partners	$0	–	-34,224	–	-0.34%	–
LZB	Exit	La-Z-Boy	$0	–	-32,992	–	-0.35%	–
EBMT	Exit	Eagle Bancorp Montana	$0	–	-39,278	–	-0.35%	–
KO	Exit	The Coca-Cola Company	$0	–	-13,864	–	-0.36%	–
NYCB	Exit	New York Community Bancorp	$0	–	-91,130	–	-0.36%	–
HOPE	Exit	Hope Bancorp	$0	–	-62,715	–	-0.37%	–
FRST	Exit	Primis Financial	$0	–	-66,089	–	-0.38%	–
AGX	Exit	Argan	$0	–	-25,568	–	-0.38%	–
UBOH	Exit	United Bancshares	$0	–	-40,224	–	-0.39%	–
	Exit	Expro Group Holdings	$0	–	-65,148	–	-0.39%	–
EAF	Exit	Graftech International	$0	–	-193,486	–	-0.39%	–
FCCO	Exit	First Community Corp	$0	–	-48,135	–	-0.39%	–
OCFC	Exit	OceanFirst Financial	$0	–	-45,295	–	-0.40%	–
PEBK	Exit	Peoples Bancorp	$0	–	-34,889	–	-0.40%	–
MDC	Exit	MDC Holdings	$0	–	-32,394	–	-0.42%	–
EGY	Exit	Vaalco Energy	$0	–	-205,454	–	-0.42%	–
ONB	Exit	Old National Bancorp	$0	–	-54,541	–	-0.42%	–
HWBK	Exit	Hawthorn Bancshares	$0	–	-42,315	–	-0.43%	–
PKBK	Exit	Parke Bancorp	$0	–	-44,171	–	-0.43%	–
ARCB	Exit	Arcbest Corp	$0	–	-13,516	–	-0.46%	–
FUNC	Exit	First United Corp	$0	–	-61,286	–	-0.48%	–
HMNF	Exit	HMN Financial	$0	–	-45,345	–	-0.48%	–
	Exit	Avaya Holdingsconv bond	$0	–	-2,415,000	–	-0.48%	–
NKE	Exit	Nike	$0	–	-12,703	–	-0.49%	–
ESTE	Exit	Earthstone Energy	$0	–	-86,486	–	-0.50%	–
KMI	Exit	Kinder Morgan	$0	–	-64,156	–	-0.50%	–
C	Exit	Citigroup	$0	–	-25,869	–	-0.50%	–
BAC	Exit	Bank of America	$0	–	-35,748	–	-0.51%	–
YELP	Exit	Yelp	$0	–	-32,111	–	-0.51%	–
PFBX	Exit	Peoples Financial	$0	–	-68,803	–	-0.52%	–
CIVB	Exit	Civista Bancshares	$0	–	-55,710	–	-0.54%	–
ESSA	Exit	Essa Bancorp	$0	–	-60,476	–	-0.55%	–
PEBO	Exit	Peoples Bancorp	$0	–	-40,725	–	-0.55%	–
ETRN	Exit	Equitrans Midstream	$0	–	-157,654	–	-0.55%	–
SFM	Exit	Sprouts Farmers Market	$0	–	-43,339	–	-0.56%	–
CZWI	Exit	Citizens Community Bancorp	$0	–	-98,734	–	-0.56%	–
KE	Exit	Kimball Electronics	$0	–	-70,321	–	-0.56%	–
DIS	Exit	Walt Disney	$0	–	-13,060	–	-0.58%	–
ET	Exit	Energy Transfer	$0	–	-117,163	–	-0.60%	–
ASO	Exit	Academy Sports	$0	–	-30,864	–	-0.61%	–
	Exit	Shake Shackconv bond	$0	–	-1,950,000	–	-0.61%	–
MRK	Exit	Merck	$0	–	-15,194	–	-0.61%	–
GEL	Exit	Genesis Energy	$0	–	-146,886	–	-0.63%	–
DKL	Exit	Delek Logistics Partners	$0	–	-26,560	–	-0.63%	–
FBMS	Exit	First Bancshares	$0	–	-45,351	–	-0.63%	–
	Exit	EZCorpconv bond	$0	–	-1,591,000	–	-0.64%	–
AAWW	Exit	Atlas Air Worldwide	$0	–	-14,394	–	-0.64%	–
MMM	Exit	3M	$0	–	-12,983	–	-0.67%	–
CLF	Exit	Cleveland-Cliffs	$0	–	-106,672	–	-0.67%	–
NMIH	Exit	NMI Holdings	$0	–	-71,581	–	-0.68%	–
ENLC	Exit	EnLink Midstream	$0	–	-169,025	–	-0.70%	–
	Exit	The Cheesecake Factoryconv bond	$0	–	-2,055,000	–	-0.75%	–
JPM	Exit	JPMorgan	$0	–	-15,558	–	-0.76%	–
	Exit	Greenbriarconv bond	$0	–	-1,865,000	–	-0.78%	–
WGP	Exit	Western Midstream Partners	$0	–	-66,348	–	-0.78%	–
IBM	Exit	International Business Machines	$0	–	-14,047	–	-0.78%	–
BA	Exit	The Boeing Company	$0	–	-13,913	–	-0.79%	–
NMM	Exit	Navios Maritime Partners	$0	–	-69,873	–	-0.80%	–
AXP	Exit	American Express Company	$0	–	-12,744	–	-0.80%	–
AATRL	Exit	AMG Capitalconv pref	$0	–	-35,406	–	-0.81%	–
WMT	Exit	Wal-Mart Stores	$0	–	-13,498	–	-0.82%	–
	Exit	Zillow Groupconv bond	$0	–	-1,900,000	–	-0.82%	–
CRM	Exit	salesforce.com	$0	–	-12,295	–	-0.83%	–
PG	Exit	Procter & Gamble	$0	–	-14,452	–	-0.85%	–
	Exit	WisdomTree Investmentsconv bond	$0	–	-2,040,000	–	-0.86%	–
BHF	Exit	Brighthouse Financial	$0	–	-43,195	–	-0.88%	–
EPD	Exit	Enterprise Products	$0	–	-79,001	–	-0.88%	–
NYCBPRU	Exit	New York Community Bancorpconv pref	$0	–	-42,500	–	-0.89%	–
MMP	Exit	Magellan Midstream	$0	–	-39,962	–	-0.89%	–
	Exit	Vishay Intertechnologyconv bond	$0	–	-2,090,000	–	-0.91%	–
TALO	Exit	Talos Energy	$0	–	-116,224	–	-0.91%	–
MOFG	Exit	MidWest One Financial	$0	–	-73,275	–	-0.94%	–
TRV	Exit	The Travelers Companies	$0	–	-13,041	–	-0.94%	–
	Exit	Jetblue Airwaysconv bond	$0	–	-3,000,000	–	-1.00%	–
CAT	Exit	Caterpillar	$0	–	-13,203	–	-1.02%	–
HON	Exit	Honeywell	$0	–	-13,095	–	-1.02%	–
HESM	Exit	Hess Midstream Partners	$0	–	-86,177	–	-1.03%	–
V	Exit	Visa	$0	–	-12,892	–	-1.07%	–
MPLX	Exit	MPLX	$0	–	-79,023	–	-1.11%	–
	Exit	Contura Energywarrant	$0	–	-21,567	–	-1.13%	–
SMMF	Exit	Summit Financial Group	$0	–	-92,413	–	-1.17%	–
CVX	Exit	Chevron Corporation	$0	–	-17,662	–	-1.19%	–
JNJ	Exit	Johnson & Johnson	$0	–	-15,642	–	-1.20%	–
ARLP	Exit	Alliance Resource Partners	$0	–	-117,853	–	-1.26%	–
SBFG	Exit	SB Financial Group	$0	–	-164,742	–	-1.30%	–
AM	Exit	Antero Midstream	$0	–	-309,081	–	-1.33%	–
TRGP	Exit	Targa Resources Corp	$0	–	-48,103	–	-1.36%	–
AAPL	Exit	Apple	$0	–	-21,651	–	-1.40%	–
OKE	Exit	ONEOK Inc.	$0	–	-60,684	–	-1.46%	–
CWGRP	Exit	Cowen Incconv pref	$0	–	-2,067	–	-1.47%	–
MCD	Exit	McDonald's	$0	–	-13,897	–	-1.50%	–
WMB	Exit	Williams Companies	$0	–	-116,713	–	-1.56%	–
	Exit	Kinetik Holdings	$0	–	-103,863	–	-1.58%	–
MSFT	Exit	Microsoft	$0	–	-15,036	–	-1.64%	–
HD	Exit	The Home Depot	$0	–	-13,655	–	-1.76%	–
GS	Exit	The Goldman Sachs Group	$0	–	-13,074	–	-1.79%	–
AMGN	Exit	Amgen	$0	–	-17,955	–	-1.90%	–
QCRH	Exit	QCR Holdings	$0	–	-88,926	–	-2.12%	–
UNTC	Exit	Unit Corp	$0	–	-94,529	–	-2.36%	–
UNH	Exit	UnitedHealth Group	$0	–	-13,105	–	-3.10%	–
DIA	Exit	SPDR Dow Jones Industrial Average	$0	–	-33,847	–	-4.55%	–

Q3 2022

			Value		Shares		↓ Weighting
DIA	Buy	SPDR Dow Jones Industrial Average	$9,724,197,000	-6.6%	33,847	+0.1%	4.55%	-4.5%
UNH	Buy	UnitedHealth Group	$6,618,549,000	-0.9%	13,105	+0.8%	3.10%	+1.3%
UNTC	Sell	Unit Corp	$5,035,560,000	+4.9%	94,529	-0.3%	2.36%	+7.3%
QCRH	Sell	QCR Holdings	$4,529,877,000	-6.0%	88,926	-0.4%	2.12%	-3.9%
AMGN	Buy	Amgen	$4,047,057,000	-6.7%	17,955	+0.7%	1.90%	-4.6%
GS	Sell	The Goldman Sachs Group	$3,831,336,000	-1.5%	13,074	-0.2%	1.79%	+0.7%
HD	Buy	The Home Depot	$3,767,961,000	+1.3%	13,655	+0.6%	1.76%	+3.6%
MSFT	Sell	Microsoft	$3,501,775,000	-9.5%	15,036	-0.2%	1.64%	-7.4%
	Sell	Kinetik Holdings	$3,383,857,000	-6.2%	103,863	-1.7%	1.58%	-4.1%
WMB	Sell	Williams Companies	$3,341,504,000	-8.7%	116,713	-0.5%	1.56%	-6.6%
MCD	Buy	McDonald's	$3,206,594,000	-4.7%	13,897	+1.9%	1.50%	-2.6%
CWGRP	Sell	Cowen Incconv pref	$3,132,497,000	-5.6%	2,067	-30.3%	1.47%	-3.4%
OKE	Sell	ONEOK Inc.	$3,109,448,000	-7.9%	60,684	-0.3%	1.46%	-5.9%
AAPL	Sell	Apple	$2,992,129,000	-5.9%	21,651	-6.9%	1.40%	-3.8%
TRGP	Buy	Targa Resources Corp	$2,902,534,000	+2.0%	48,103	+0.9%	1.36%	+4.3%
AM	Sell	Antero Midstream	$2,837,361,000	+0.6%	309,081	-0.8%	1.33%	+2.9%
ARLP	Sell	Alliance Resource Partners	$2,698,834,000	+24.5%	117,853	-0.9%	1.26%	+27.3%
JNJ	Sell	Johnson & Johnson	$2,555,277,000	-8.2%	15,642	-0.2%	1.20%	-6.1%
CVX	Sell	Chevron Corporation	$2,537,500,000	-1.5%	17,662	-0.7%	1.19%	+0.8%
SMMF	Buy	Summit Financial Group	$2,489,603,000	-3.0%	92,413	+0.0%	1.17%	-0.9%
MPLX	Sell	MPLX	$2,371,483,000	+1.7%	79,023	-1.2%	1.11%	+4.0%
V	Buy	Visa	$2,290,264,000	-8.1%	12,892	+1.8%	1.07%	-6.0%
HESM	Sell	Hess Midstream Partners	$2,199,237,000	-9.7%	86,177	-0.9%	1.03%	-7.6%
HON	Buy	Honeywell	$2,186,472,000	-3.1%	13,095	+0.9%	1.02%	-0.9%
CAT	Buy	Caterpillar	$2,166,348,000	-7.3%	13,203	+1.0%	1.02%	-5.1%
	New	Jetblue Airwaysconv bond	$2,130,000,000	–	3,000,000	–	1.00%	–
MOFG	Sell	MidWest One Financial	$1,999,675,000	-9.0%	73,275	-0.9%	0.94%	-7.1%
TRV	Buy	The Travelers Companies	$1,997,881,000	-8.5%	13,041	+1.0%	0.94%	-6.4%
TALO	Sell	Talos Energy	$1,935,130,000	+4.7%	116,224	-2.7%	0.91%	+7.1%
	New	Vishay Intertechnologyconv bond	$1,935,183,000	–	2,090,000	–	0.91%	–
MMP	Sell	Magellan Midstream	$1,898,595,000	-0.7%	39,962	-0.2%	0.89%	+1.5%
NYCBPRU	Sell	New York Community Bancorpconv pref	$1,895,075,000	-3.7%	42,500	-0.2%	0.89%	-1.6%
EPD	Sell	Enterprise Products	$1,878,644,000	-4.1%	79,001	-1.8%	0.88%	-1.9%
BHF	Sell	Brighthouse Financial	$1,875,527,000	+4.2%	43,195	-1.6%	0.88%	+6.6%
	Buy	WisdomTree Investmentsconv bond	$1,833,589,000	+10.5%	2,040,000	+11.5%	0.86%	+13.0%
PG	Buy	Procter & Gamble	$1,824,565,000	-11.4%	14,452	+0.9%	0.85%	-9.4%
CRM	Buy	salesforce.com	$1,768,513,000	-10.6%	12,295	+2.6%	0.83%	-8.6%
	New	Zillow Groupconv bond	$1,755,059,000	–	1,900,000	–	0.82%	–
WMT	Buy	Wal-Mart Stores	$1,750,749,000	+7.7%	13,498	+1.0%	0.82%	+10.2%
AATRL	Sell	AMG Capitalconv pref	$1,721,596,000	-4.1%	35,406	-1.4%	0.81%	-1.9%
AXP	Buy	American Express Company	$1,719,293,000	-1.7%	12,744	+1.0%	0.80%	+0.5%
NMM	Sell	Navios Maritime Partners	$1,713,294,000	+5.6%	69,873	-0.9%	0.80%	+7.9%
BA	Buy	The Boeing Company	$1,684,586,000	-10.6%	13,913	+1.0%	0.79%	-8.6%
WGP	Sell	Western Midstream Partners	$1,669,316,000	+1.6%	66,348	-1.8%	0.78%	+4.0%
IBM	Buy	International Business Machines	$1,668,924,000	-15.6%	14,047	+0.3%	0.78%	-13.7%
	Sell	Greenbriarconv bond	$1,661,183,000	-8.7%	1,865,000	-0.3%	0.78%	-6.7%
JPM	Buy	JPMorgan	$1,625,811,000	-5.5%	15,558	+1.8%	0.76%	-3.4%
	Sell	The Cheesecake Factoryconv bond	$1,593,455,000	+0.9%	2,055,000	-0.5%	0.75%	+3.2%
ENLC	Buy	EnLink Midstream	$1,502,633,000	+4.7%	169,025	+0.1%	0.70%	+7.0%
NMIH	Sell	NMI Holdings	$1,458,105,000	+21.6%	71,581	-0.6%	0.68%	+24.4%
CLF	Sell	Cleveland-Cliffs	$1,436,872,000	-13.2%	106,672	-0.9%	0.67%	-11.2%
MMM	Buy	3M	$1,434,622,000	-13.8%	12,983	+1.0%	0.67%	-11.8%
AAWW	Sell	Atlas Air Worldwide	$1,375,635,000	+49.9%	14,394	-3.2%	0.64%	+53.3%
	Sell	EZCorpconv bond	$1,363,956,000	-3.0%	1,591,000	-0.3%	0.64%	-0.8%
DKL	Sell	Delek Logistics Partners	$1,352,966,000	+4.0%	26,560	-0.5%	0.63%	+6.4%
GEL	Sell	Genesis Energy	$1,351,351,000	+13.3%	146,886	-1.2%	0.63%	+15.9%
MRK	Buy	Merck	$1,308,507,000	-2.2%	15,194	+3.6%	0.61%	0.0%
	New	Shake Shackconv bond	$1,306,652,000	–	1,950,000	–	0.61%	–
ASO	Buy	Academy Sports	$1,301,844,000	+20.9%	30,864	+1.9%	0.61%	+23.7%
ET	Sell	Energy Transfer	$1,292,310,000	+10.2%	117,163	-0.3%	0.60%	+12.7%
DIS	Buy	Walt Disney	$1,231,903,000	+0.9%	13,060	+1.0%	0.58%	+3.2%
KE	Buy	Kimball Electronics	$1,206,005,000	-9.5%	70,321	+6.1%	0.56%	-7.4%
CZWI	Sell	Citizens Community Bancorp	$1,201,593,000	-12.1%	98,734	-0.1%	0.56%	-10.1%
SFM	Sell	Sprouts Farmers Market	$1,202,657,000	+6.4%	43,339	-2.9%	0.56%	+8.7%
ETRN	Sell	Equitrans Midstream	$1,179,251,000	+16.5%	157,654	-1.0%	0.55%	+19.0%
PFBX	Sell	Peoples Financial	$1,118,049,000	+4.1%	68,803	-0.7%	0.52%	+6.5%
YELP	Sell	Yelp	$1,088,884,000	+19.7%	32,111	-1.9%	0.51%	+22.6%
KMI	Buy	Kinder Morgan	$1,067,556,000	-0.0%	64,156	+0.7%	0.50%	+2.2%
ESTE	Buy	Earthstone Energy	$1,065,508,000	-6.9%	86,486	+3.1%	0.50%	-4.8%
NKE	Sell	Nike	$1,055,873,000	-20.3%	12,703	-2.0%	0.49%	-18.6%
	Sell	Avaya Holdingsconv bond	$1,032,413,000	-55.8%	2,415,000	-0.4%	0.48%	-54.9%
ARCB	Sell	Arcbest Corp	$983,019,000	+2.6%	13,516	-0.7%	0.46%	+4.8%
HWBK	Buy	Hawthorn Bancshares	$925,007,000	-12.9%	42,315	+1.6%	0.43%	-10.9%
MDC	Sell	MDC Holdings	$888,243,000	-15.5%	32,394	-0.4%	0.42%	-13.5%
EAF	New	Graftech International	$833,925,000	–	193,486	–	0.39%	–
	Sell	Expro Group Holdings	$829,982,000	+9.2%	65,148	-1.2%	0.39%	+11.8%
AGX	Sell	Argan	$822,523,000	-14.0%	25,568	-0.2%	0.38%	-12.1%
KO	Buy	The Coca-Cola Company	$776,661,000	-10.1%	13,864	+0.9%	0.36%	-8.1%
LZB	Sell	La-Z-Boy	$744,629,000	-5.1%	32,992	-0.3%	0.35%	-2.8%
WLKP	Sell	Westlake Chemical Partners	$735,816,000	-14.7%	34,224	-1.2%	0.34%	-12.7%
CEQP	Sell	Crestwood Equity Partners	$698,832,000	+15.1%	25,165	-0.2%	0.33%	+17.6%
USX	Buy	US Xpress Enterprises	$654,877,000	-8.1%	266,210	+0.1%	0.31%	-5.8%
DOW	Buy	Dow	$647,092,000	-14.1%	14,730	+0.9%	0.30%	-12.2%
UIS	Buy	Unisys	$642,362,000	-31.5%	85,081	+9.1%	0.30%	-30.0%
NTGR	Buy	NETGEAR	$639,677,000	+8.2%	31,920	+0.0%	0.30%	+10.7%
CSCO	Sell	Cisco Systems	$630,920,000	-6.8%	15,773	-0.6%	0.30%	-4.8%
VZ	Buy	Verizon Communications	$593,205,000	-24.6%	15,623	+0.8%	0.28%	-22.8%
LGIH	Buy	LGI Homes	$592,862,000	+1.6%	7,286	+8.5%	0.28%	+4.1%
	Buy	Jackson Financial	$542,096,000	+51.8%	19,535	+46.3%	0.25%	+54.9%
BRKB	Sell	Berkshire Hathaway	$523,626,000	-4.5%	1,961	-2.3%	0.24%	-2.4%
SUP	Sell	Superior Industries	$483,888,000	-25.0%	160,228	-1.9%	0.23%	-23.1%
INTC	Buy	Intel Corporation	$465,097,000	-23.8%	18,048	+10.6%	0.22%	-22.1%
HEAR	Buy	Turtle Beach	$461,448,000	-43.9%	67,661	+0.6%	0.22%	-42.7%
HGTXU	Buy	Hugoton Royalty Trust	$447,718,000	+793.6%	226,120	+653.7%	0.21%	+813.0%
WBA	Buy	Walgreens Boots Alliance	$445,566,000	-16.4%	14,190	+0.9%	0.21%	-14.3%
	New	Bill.com Holdingsconv bond	$397,660,000	–	500,000	–	0.19%	–
SLYV	Sell	SPDR S&P 600 Small Cap Value	$393,105,000	-8.0%	5,855	-0.8%	0.18%	-6.1%
	New	Cloudfareconv bond	$388,500,000	–	500,000	–	0.18%	–
MESA	Buy	Mesa Air Group	$357,628,000	-19.5%	216,744	+6.8%	0.17%	-18.1%
XOM	Sell	Exxon Mobil	$336,318,000	-0.1%	3,852	-2.0%	0.16%	+2.6%
	Sell	EZCorpconv bond	$334,250,000	-0.0%	320,000	-1.5%	0.16%	+2.6%
GRPN	Buy	Groupon	$221,495,000	-29.2%	27,826	+0.5%	0.10%	-27.3%
ORCL	Sell	Oracle	$217,531,000	-15.2%	3,562	-3.0%	0.10%	-13.6%
DVN	Sell	Devon Energy	$215,466,000	+1.4%	3,583	-7.1%	0.10%	+4.1%
TIP	Buy	iShares Barclays TIPS Bond	$193,689,000	+1.5%	1,846	+10.2%	0.09%	+4.6%
	Buy	Unit Corpwarrant	$195,281,000	+139.6%	19,312	+196.2%	0.09%	+145.9%
BG	Buy	Bunge	$185,605,000	+295.2%	2,248	+334.0%	0.09%	+295.5%
CHKEL	Sell	Chesapeake Energy Corporationwarrant	$181,250,000	+39.6%	2,467	-0.3%	0.08%	+44.1%
NVDA	New	Nvidia	$172,427,000	–	1,420	–	0.08%	–
UPS	Sell	United Parcel Service	$144,255,000	-19.9%	893	-9.4%	0.07%	-17.1%
FMCC	New	Freddie Mac	$139,122,000	–	265,653	–	0.06%	–
GE	New	General Electric	$111,229,000	–	1,797	–	0.05%	–
CHK	Sell	Chesapeake Energy Corporation	$97,790,000	+15.8%	1,038	-0.3%	0.05%	+17.9%
MO	New	Altria Group	$84,031,000	–	2,081	–	0.04%	–
LOW	Sell	Lowe's	$76,251,000	-5.3%	406	-11.9%	0.04%	-2.7%
SNDR	Sell	Schneider Natl	$69,670,000	-20.9%	3,432	-12.8%	0.03%	-17.5%
	New	FedEx Corporation	$70,375,000	–	474	–	0.03%	–
	New	Microchip Technology	$55,720,000	–	913	–	0.03%	–
	New	Pacwest Bancorppref stk	$50,220,000	–	2,000	–	0.02%	–
X	New	United States Steel	$49,939,000	–	2,756	–	0.02%	–
	New	Algoma Steel	$46,793,000	–	7,266	–	0.02%	–
NEM	Sell	Newmont Mining	$44,384,000	-33.7%	1,056	-5.9%	0.02%	-32.3%
DAC	New	Danaos Corp	$43,096,000	–	774	–	0.02%	–
F	New	Ford	$41,204,000	–	3,679	–	0.02%	–
FNMA	Sell	Federal National Mortgage Association	$40,538,000	-72.0%	77,988	-76.7%	0.02%	-71.2%
SIRI	New	Sirius XM Holdings	$39,627,000	–	6,940	–	0.02%	–
CHRW	New	CH Robinson Worldwide	$36,887,000	–	383	–	0.02%	–
LPL	New	LG Display	$35,753,000	–	8,763	–	0.02%	–
GO	New	Grocery Outlet	$33,090,000	–	994	–	0.02%	–
BANF	Sell	BancFirst Corporation	$32,209,000	-89.8%	360	-89.1%	0.02%	-89.7%
LBRDK	Sell	Liberty Broadband	$29,741,000	-52.7%	403	-25.9%	0.01%	-51.7%
PYYX	Sell	Pyxus Intternational	$26,793,000	-34.1%	55,244	-0.6%	0.01%	-31.6%
	New	Direxion Daily Real Estate	$26,381,000	–	391	–	0.01%	–
	New	Financial Sector SPDR	$24,956,000	–	822	–	0.01%	–
CDNA	Sell	CareDx	$24,356,000	-27.3%	1,431	-8.2%	0.01%	-26.7%
AMR	Sell	Alpha Metallurgical Resources	$20,526,000	-80.3%	150	-81.4%	0.01%	-79.2%
SWN	New	Southwestern Energy Company	$18,360,000	–	3,000	–	0.01%	–
AMJ	Sell	JP Morgan Chase Alerian ETN	$16,429,000	-23.0%	819	-27.3%	0.01%	-20.0%
TNK	Sell	Teekay Tankers	$17,515,000	-21.2%	636	-49.6%	0.01%	-20.0%
BOIL	New	Bloomberg Natural Gas	$16,098,000	–	300	–	0.01%	–
GM	New	General Motors	$12,836,000	–	400	–	0.01%	–
GNK	New	Genco Shipping	$12,530,000	–	1,000	–	0.01%	–
MCDTF	New	McDermottwarrant	$652,000	–	65,197	–	0.00%	–
MCDBF	New	McDermottwarrant	$724,000	–	72,441	–	0.00%	–
SDRDW	Exit	Sandridge Energywarrant	$0	–	-4,028	–	0.00%	–
SQQQ	Exit	ProShares Ultra Short	$0	–	-27	–	-0.00%	–
RXD	Exit	Proshares Ultrashort Health ETF	$0	–	-100	–	-0.00%	–
LCI	Exit	Lannett Company	$0	–	-5,100	–	-0.00%	–
PSTHWS	Exit	Pershing Squarewarrant	$0	–	-9,990	–	-0.00%	–
R297	Exit	ProShares Ultra Short 20 Treasury	$0	–	-200	–	-0.00%	–
UBER	Exit	Uber Technologies	$0	–	-280	–	-0.00%	–
MTH	Exit	Meritage Homes Corporation	$0	–	-100	–	-0.00%	–
M	Exit	Macy's	$0	–	-400	–	-0.00%	–
TOL	Exit	Toll Brothers	$0	–	-200	–	-0.00%	–
PYPL	Exit	Paypal Holdings	$0	–	-122	–	-0.00%	–
BATRK	Exit	Liberty Braves Group	$0	–	-400	–	-0.00%	–
XBI	Exit	SPDR S&P Biotech ETF	$0	–	-188	–	-0.01%	–
RTX	Exit	Raytheon Technologies	$0	–	-146	–	-0.01%	–
SCHO	Exit	Schwab Short-Term U.S. Treasury	$0	–	-300	–	-0.01%	–
SCHX	Exit	Schwab U.S. Large Cap	$0	–	-357	–	-0.01%	–
SSSS	Exit	SuRo Capital	$0	–	-2,438	–	-0.01%	–
UMPQ	Exit	Umpqua Holdings Corporation	$0	–	-1,000	–	-0.01%	–
OXYWS	Exit	Occidental Petroleumwarrant	$0	–	-500	–	-0.01%	–
EOG	Exit	EOG Resources	$0	–	-200	–	-0.01%	–
TSBK	Exit	Timberland Bancorp	$0	–	-1,000	–	-0.01%	–
TSM	Exit	Taiwan Semiconductor Manufacturing	$0	–	-300	–	-0.01%	–
GOOGL	Exit	Google	$0	–	-12	–	-0.01%	–
APO	Exit	Apollo Global Management	$0	–	-635	–	-0.01%	–
PM	Exit	Philip Morris International	$0	–	-398	–	-0.02%	–
TROW	Exit	T. Rowe Price Group	$0	–	-407	–	-0.02%	–
SPXU	Exit	ProShares Ultra Short S&P 500	$0	–	-2,526	–	-0.02%	–
COST	Exit	Costco	$0	–	-109	–	-0.02%	–
TZA	Exit	Direxion Daily Small Cap Bear 3X ETF	$0	–	-1,312	–	-0.03%	–
	Exit	Proshs Ushort Nat Gas	$0	–	-1,527	–	-0.03%	–
WFC	Exit	Wells Fargo & Company	$0	–	-1,732	–	-0.03%	–
T	Exit	A T & T	$0	–	-3,829	–	-0.04%	–
COP	Exit	ConocoPhillips	$0	–	-1,248	–	-0.05%	–
UNP	Exit	Union Pacific Corporation	$0	–	-684	–	-0.07%	–
EEM	Exit	iShares MSCI Emerging Markets	$0	–	-4,615	–	-0.08%	–
FB	Exit	Meta Platforms	$0	–	-1,291	–	-0.10%	–
GOOG	Exit	Google	$0	–	-102	–	-0.10%	–
BBBY	Exit	Bed Bath & Beyond	$0	–	-52,012	–	-0.12%	–
AMZN	Exit	Amazon.com	$0	–	-2,500	–	-0.12%	–
	Exit	Bill.com Holdingsconv bond	$0	–	-500,000	–	-0.18%	–
	Exit	Cloudfare Incconv bond	$0	–	-500,000	–	-0.18%	–
PSTH	Exit	Pershing Square Tontine Holdings	$0	–	-26,000	–	-0.24%	–
	Exit	Nextera Energy	$0	–	-9,800	–	-0.35%	–
	Exit	Heritage Insurance Holdingsconv bond	$0	–	-1,770,000	–	-0.79%	–

Q2 2022

			Value		Shares		↓ Weighting
DIA	New	SPDR Dow Jones Industrial Average	$10,411,423,000	–	33,823	–	4.77%	–
UNH	New	UnitedHealth Group	$6,678,731,000	–	13,003	–	3.06%	–
QCRH	New	QCR Holdings	$4,818,580,000	–	89,249	–	2.21%	–
UNTC	New	Unit Corp	$4,800,014,000	–	94,787	–	2.20%	–
AMGN	New	Amgen	$4,336,336,000	–	17,823	–	1.99%	–
GS	New	Goldman Sachs Group	$3,891,259,000	–	13,101	–	1.78%	–
MSFT	New	Microsoft Corporation	$3,867,479,000	–	15,059	–	1.77%	–
HD	New	Home Depot	$3,721,021,000	–	13,567	–	1.70%	–
WMB	New	Williams Companies	$3,659,145,000	–	117,243	–	1.68%	–
	New	Kinetik Holdings	$3,608,291,000	–	105,691	–	1.65%	–
OKE	New	ONEOK Inc.	$3,377,619,000	–	60,858	–	1.55%	–
MCD	New	McDonald's	$3,366,456,000	–	13,636	–	1.54%	–
CWGRP	New	Cowen Incconv pref	$3,316,857,000	–	2,965	–	1.52%	–
AAPL	New	Apple	$3,178,865,000	–	23,251	–	1.46%	–
TRGP	New	Targa Resources Corp	$2,845,959,000	–	47,695	–	1.30%	–
SBFG	New	SB Financial Group	$2,843,455,000	–	164,742	–	1.30%	–
AM	New	Antero Midstream	$2,820,439,000	–	311,651	–	1.29%	–
JNJ	New	Johnson & Johnson	$2,783,002,000	–	15,678	–	1.28%	–
CVX	New	Chevron Corporation	$2,575,347,000	–	17,788	–	1.18%	–
SMMF	New	Summit Financial Group	$2,567,211,000	–	92,412	–	1.18%	–
V	New	Visa	$2,493,415,000	–	12,664	–	1.14%	–
HESM	New	Hess Midstream Partners	$2,435,020,000	–	86,965	–	1.12%	–
	New	Avaya Holdingsconv bond	$2,336,641,000	–	2,425,000	–	1.07%	–
CAT	New	Caterpillar	$2,337,287,000	–	13,075	–	1.07%	–
MPLX	New	MPLX	$2,332,090,000	–	80,003	–	1.07%	–
HON	New	Honeywell International	$2,255,359,000	–	12,976	–	1.03%	–
MOFG	New	MidWest One Financial Group	$2,197,824,000	–	73,951	–	1.01%	–
	New	Contura Energywarrant	$2,196,168,000	–	21,567	–	1.01%	–
TRV	New	Travelers Companies	$2,183,976,000	–	12,913	–	1.00%	–
ARLP	New	Alliance Resource Partners	$2,168,313,000	–	118,942	–	0.99%	–
PG	New	Procter & Gamble	$2,059,648,000	–	14,324	–	0.94%	–
IBM	New	International Business Machines	$1,977,366,000	–	14,005	–	0.91%	–
CRM	New	salesforce.com	$1,978,500,000	–	11,988	–	0.91%	–
NYCBPRU	New	New York Community Bancorpconv pref	$1,968,120,000	–	42,600	–	0.90%	–
EPD	New	Enterprise Products Partners	$1,959,616,000	–	80,411	–	0.90%	–
MMP	New	Magellan Midstream Partners	$1,912,645,000	–	40,047	–	0.88%	–
BA	New	The Boeing Company	$1,884,002,000	–	13,780	–	0.86%	–
TALO	New	Talos Energy	$1,847,536,000	–	119,427	–	0.85%	–
	New	Greenbriarconv bond	$1,820,067,000	–	1,870,000	–	0.83%	–
BHF	New	Brighthouse Financial	$1,799,876,000	–	43,878	–	0.82%	–
AATRL	New	AMG Capitalconv pref	$1,795,300,000	–	35,906	–	0.82%	–
AXP	New	American Express Company	$1,748,830,000	–	12,616	–	0.80%	–
JPM	New	JPMorgan	$1,720,681,000	–	15,280	–	0.79%	–
	New	Heritage Insurance Holdingsconv bond	$1,717,666,000	–	1,770,000	–	0.79%	–
MMM	New	3M Co	$1,663,566,000	–	12,855	–	0.76%	–
	New	WisdomTree Investmentsconv bond	$1,658,712,000	–	1,830,000	–	0.76%	–
CLF	New	Cleveland-Cliffs	$1,654,765,000	–	107,662	–	0.76%	–
WGP	New	Western Midstream Partners	$1,642,457,000	–	67,563	–	0.75%	–
WMT	New	Wal-Mart	$1,625,478,000	–	13,370	–	0.74%	–
NMM	New	Navios Maritime Partners	$1,621,922,000	–	70,518	–	0.74%	–
	New	The Cheesecake Factoryconv bond	$1,579,170,000	–	2,065,000	–	0.72%	–
ENLC	New	EnLink Midstream	$1,435,829,000	–	168,921	–	0.66%	–
EGY	New	Vaalco Energy	$1,425,851,000	–	205,454	–	0.65%	–
	New	EZCorpconv bond	$1,405,441,000	–	1,596,000	–	0.64%	–
CZWI	New	Citizens Community Bancorp	$1,366,528,000	–	98,809	–	0.63%	–
MRK	New	Merck	$1,337,737,000	–	14,673	–	0.61%	–
KE	New	Kimball Electronics	$1,332,710,000	–	66,304	–	0.61%	–
NKE	New	Nike	$1,324,410,000	–	12,959	–	0.61%	–
DKL	New	Delek Logistics Partners	$1,300,534,000	–	26,705	–	0.60%	–
FBMS	New	First Bancshares	$1,297,039,000	–	45,351	–	0.59%	–
DIS	New	Walt Disney	$1,220,734,000	–	12,932	–	0.56%	–
NMIH	New	NMI Holdings Inc	$1,199,283,000	–	72,029	–	0.55%	–
GEL	New	Genesis Energy	$1,192,783,000	–	148,726	–	0.55%	–
C	New	Citigroup	$1,189,715,000	–	25,869	–	0.54%	–
CIVB	New	Civista Bancshares	$1,184,395,000	–	55,710	–	0.54%	–
ET	New	Energy Transfer	$1,172,682,000	–	117,503	–	0.54%	–
FUNC	New	First United Corp	$1,149,725,000	–	61,286	–	0.53%	–
UBOH	New	United Bancshares	$1,144,775,000	–	40,224	–	0.52%	–
ESTE	New	Earthstone Energy	$1,144,839,000	–	83,871	–	0.52%	–
SFM	New	Sprouts Farmers Market	$1,130,259,000	–	44,639	–	0.52%	–
BAC	New	Bank of America	$1,112,835,000	–	35,748	–	0.51%	–
PEBO	New	Peoples Bancorp	$1,083,286,000	–	40,725	–	0.50%	–
ASO	New	Academy Sports & Outdoors	$1,076,471,000	–	30,289	–	0.49%	–
PFBX	New	Peoples Financial	$1,074,197,000	–	69,303	–	0.49%	–
KMI	New	Kinder Morgan	$1,067,713,000	–	63,706	–	0.49%	–
HWBK	New	Hawthorn Bancshares	$1,061,761,000	–	41,654	–	0.49%	–
MDC	New	MDC Holdings	$1,051,303,000	–	32,538	–	0.48%	–
HMNF	New	HMN Financial	$1,046,563,000	–	45,345	–	0.48%	–
ESSA	New	Essa Bancorp	$1,015,997,000	–	60,476	–	0.46%	–
ETRN	New	Equitrans Midstream Corporation	$1,012,333,000	–	159,172	–	0.46%	–
ARCB	New	Arcbest	$958,228,000	–	13,617	–	0.44%	–
AGX	New	Argan Inc	$956,437,000	–	25,628	–	0.44%	–
PEBK	New	Peoples Bancorp	$947,585,000	–	34,889	–	0.43%	–
UIS	New	Unisys Corp	$938,256,000	–	77,993	–	0.43%	–
PKBK	New	Parke Bancorp	$925,820,000	–	44,171	–	0.42%	–
FCCO	New	First Community	$922,748,000	–	48,135	–	0.42%	–
AAWW	New	Atlas Air Worldwide Holdings	$917,936,000	–	14,875	–	0.42%	–
YELP	New	Yelp	$909,384,000	–	32,747	–	0.42%	–
FRST	New	Primis Financial Corp	$900,793,000	–	66,089	–	0.41%	–
HOPE	New	Hope Bancorp	$867,976,000	–	62,715	–	0.40%	–
OCFC	New	OceanFirst Financial	$866,493,000	–	45,295	–	0.40%	–
KO	New	The Coca-Cola Company	$864,132,000	–	13,736	–	0.40%	–
WLKP	New	Westlake Chemical Partners	$862,857,000	–	34,639	–	0.40%	–
CVLY	New	Codorus Bancorp	$831,840,000	–	36,954	–	0.38%	–
NYCB	New	New York Community Bancorp	$832,017,000	–	91,130	–	0.38%	–
HEAR	New	Turtle Beach	$822,883,000	–	67,284	–	0.38%	–
ONB	New	Old National Bancorp	$806,661,000	–	54,541	–	0.37%	–
VZ	New	Verizon	$786,371,000	–	15,495	–	0.36%	–
LZB	New	La-Z-Boy	$784,398,000	–	33,083	–	0.36%	–
EBMT	New	Eagle Bancorp Montana	$782,025,000	–	39,278	–	0.36%	–
	New	Nextera Energy	$759,108,000	–	9,800	–	0.35%	–
	New	Expro Group Holdings	$759,913,000	–	65,965	–	0.35%	–
DOW	New	Dow	$753,613,000	–	14,602	–	0.34%	–
USX	New	US Xpress Enterprises	$712,802,000	–	265,971	–	0.33%	–
CSCO	New	Cisco Systems	$676,654,000	–	15,869	–	0.31%	–
SUP	New	Superior Industries	$644,939,000	–	163,276	–	0.30%	–
INTC	New	Intel Corporation	$610,531,000	–	16,320	–	0.28%	–
CEQP	New	Crestwood Equity Partners	$607,177,000	–	25,215	–	0.28%	–
NTGR	New	NETGEAR	$590,936,000	–	31,908	–	0.27%	–
ZION	New	Zions Bancorp	$583,365,000	–	11,461	–	0.27%	–
LGIH	New	LGI Homes	$583,620,000	–	6,716	–	0.27%	–
FUSB	New	First US Bancshares	$575,146,000	–	52,286	–	0.26%	–
	New	Homestreet	$573,268,000	–	16,535	–	0.26%	–
BRKB	New	Berkshire Hathaway Class B	$548,224,000	–	2,008	–	0.25%	–
WBA	New	Walgreens Boots Alliance	$532,950,000	–	14,062	–	0.24%	–
CUBI	New	Customers Bancorp	$530,535,000	–	15,650	–	0.24%	–
PSTH	New	Pershing Square Tontine Holdings	$519,220,000	–	26,000	–	0.24%	–
	New	Five9conv bond	$487,750,000	–	500,000	–	0.22%	–
PACW	New	Pacwest Bancorp	$478,894,000	–	17,963	–	0.22%	–
MESA	New	Mesa Air Group	$444,421,000	–	202,932	–	0.20%	–
FMCKI	New	Freddie Macpref stk	$438,613,000	–	172,005	–	0.20%	–
SLYV	New	SPDR S&P 600 Small Cap Value ETF	$427,436,000	–	5,903	–	0.20%	–
	New	Oktaconv bond	$416,000,000	–	500,000	–	0.19%	–
	New	Blackline Corpconv bond	$396,000,000	–	500,000	–	0.18%	–
	New	Cloudfare Incconv bond	$385,950,000	–	500,000	–	0.18%	–
	New	Bill.com Holdingsconv bond	$384,000,000	–	500,000	–	0.18%	–
	New	Coupa Softwareconv bond	$375,000,000	–	500,000	–	0.17%	–
CFG	New	Citizens Financial Group	$375,280,000	–	10,515	–	0.17%	–
SBT	New	Sterling Bancorp Inc. of Michigan	$372,444,000	–	65,341	–	0.17%	–
THFF	New	The First Financial Corp	$358,501,000	–	8,056	–	0.16%	–
	New	Jackson Financial	$357,113,000	–	13,350	–	0.16%	–
TFC	New	Truist Financial Corp	$338,792,000	–	7,143	–	0.16%	–
XOM	New	Exxon Mobil Corporation	$336,565,000	–	3,930	–	0.15%	–
	New	EZCorpconv bond	$334,380,000	–	325,000	–	0.15%	–
BOKF	New	BOK Financial Corp	$327,035,000	–	4,327	–	0.15%	–
UNIT	New	Uniti Group	$327,392,000	–	34,755	–	0.15%	–
BANF	New	BancFirst Corporation	$316,322,000	–	3,305	–	0.14%	–
SFBC	New	Sounds Financial	$315,365,000	–	8,310	–	0.14%	–
GRPN	New	Groupon	$312,841,000	–	27,685	–	0.14%	–
CVCY	New	Central Valley Community Bancorp	$285,230,000	–	19,671	–	0.13%	–
FITB	New	Fifth Third Bancorp	$286,776,000	–	8,535	–	0.13%	–
HWC	New	Hancock Whitney Corporation	$278,437,000	–	6,281	–	0.13%	–
PFE	New	Pfizer	$270,906,000	–	5,167	–	0.12%	–
AMZN	New	Amazon.com	$265,525,000	–	2,500	–	0.12%	–
BBBY	New	Bed Bath & Beyond	$258,500,000	–	52,012	–	0.12%	–
ORCL	New	Oracle Corporation	$256,563,000	–	3,672	–	0.12%	–
GOOG	New	Google	$223,120,000	–	102	–	0.10%	–
	New	McDermott International	$221,166,000	–	388,010	–	0.10%	–
DB	New	Deutsche Bank	$217,626,000	–	24,900	–	0.10%	–
DVN	New	Devon Energy Corporation	$212,578,000	–	3,857	–	0.10%	–
AAL	New	American Airlines Group	$209,803,000	–	16,546	–	0.10%	–
FB	New	Meta Platforms	$208,174,000	–	1,291	–	0.10%	–
LBAI	New	Lakeland Bancorp	$206,054,000	–	14,094	–	0.09%	–
TIP	New	iShares Barclays TIPS Bond	$190,847,000	–	1,675	–	0.09%	–
EEM	New	iShares MSCI Emerging Markets	$185,062,000	–	4,615	–	0.08%	–
UPS	New	United Parcel Service	$179,984,000	–	986	–	0.08%	–
IYF	New	iShares DJ US Financial Sector	$171,591,000	–	2,452	–	0.08%	–
BANC	New	Banc of California	$149,981,000	–	8,512	–	0.07%	–
UNP	New	Union Pacific Corporation	$145,884,000	–	684	–	0.07%	–
FNMA	New	Federal National Mortgage Association	$144,930,000	–	334,133	–	0.07%	–
NOBL	New	ProShares S&P 500 Dividend Aristocrat	$134,015,000	–	1,570	–	0.06%	–
CHKEL	New	Chesapeake Energy Corporationwarrant	$129,863,000	–	2,475	–	0.06%	–
SD	New	SandRidge Energy	$125,673,000	–	8,020	–	0.06%	–
MA	New	Mastercard	$126,192,000	–	400	–	0.06%	–
COP	New	ConocoPhillips	$112,083,000	–	1,248	–	0.05%	–
FNB	New	F.N.B. Corporation	$107,036,000	–	9,856	–	0.05%	–
AMR	New	Alpha Metallurgical Resources	$103,950,000	–	805	–	0.05%	–
SNDR	New	Schneider Natl	$88,065,000	–	3,935	–	0.04%	–
CHK	New	Chesapeake Energy Corporation	$84,425,000	–	1,041	–	0.04%	–
LOW	New	Lowe's	$80,523,000	–	461	–	0.04%	–
	New	Unit Corpwarrant	$81,513,000	–	6,521	–	0.04%	–
T	New	A T & T	$80,256,000	–	3,829	–	0.04%	–
QQQ	New	PowerShares QQQ Trust	$68,949,000	–	246	–	0.03%	–
NEM	New	Newmont Mining	$66,950,000	–	1,122	–	0.03%	–
WFC	New	Wells Fargo & Company	$67,842,000	–	1,732	–	0.03%	–
LBRDK	New	Liberty Broadband	$62,908,000	–	544	–	0.03%	–
	New	Proshs Ushort Nat Gas	$61,121,000	–	1,527	–	0.03%	–
TZA	New	Direxion Daily Small Cap Bear 3X ETF	$61,205,000	–	1,312	–	0.03%	–
AZN	New	Astrazeneca	$59,463,000	–	900	–	0.03%	–
IRDM	New	Iridium Communications	$59,270,000	–	1,578	–	0.03%	–
PAA	New	Plains All American Pipeline	$57,251,000	–	5,830	–	0.03%	–
BHLB	New	Berkshire Hills Bancorp	$51,447,000	–	2,077	–	0.02%	–
COST	New	Costco	$52,242,000	–	109	–	0.02%	–
	New	American Airlinesconv bond	$53,017,000	–	50,000	–	0.02%	–
HGTXU	New	Hugoton Royalty Trust	$50,100,000	–	30,000	–	0.02%	–
SPXU	New	ProShares Ultra Short S&P 500	$51,101,000	–	2,526	–	0.02%	–
BG	New	Bunge Ltd	$46,963,000	–	518	–	0.02%	–
TROW	New	T. Rowe Price Group	$46,239,000	–	407	–	0.02%	–
PYYX	New	Pyxus International	$40,660,000	–	55,554	–	0.02%	–
NM	New	Navios Maritime Holdings	$39,438,000	–	18,429	–	0.02%	–
PM	New	Philip Morris International	$39,299,000	–	398	–	0.02%	–
BACPRL	New	Bank of Americaconv pref	$34,931,000	–	29	–	0.02%	–
CDNA	New	CareDx Inc	$33,487,000	–	1,559	–	0.02%	–
TK	New	Teekay Inc	$33,710,000	–	11,705	–	0.02%	–
APO	New	Apollo Global Management	$30,785,000	–	635	–	0.01%	–
GOOGL	New	Google	$26,151,000	–	12	–	0.01%	–
TSM	New	Taiwan Semiconductor Manufacturing	$24,525,000	–	300	–	0.01%	–
TSBK	New	Timberland Bancorp	$25,000,000	–	1,000	–	0.01%	–
TNK	New	Teekay Tankers	$22,231,000	–	1,261	–	0.01%	–
GOLD	New	Barrick Gold Corp	$21,918,000	–	1,239	–	0.01%	–
AMJ	New	JP Morgan Chase Alerian ETN	$21,349,000	–	1,126	–	0.01%	–
EOG	New	EOG Resources	$22,088,000	–	200	–	0.01%	–
FNMAS	New	Fannie Maepref stk	$20,880,000	–	6,000	–	0.01%	–
PAGP	New	Plains GP Holdings	$19,092,000	–	1,850	–	0.01%	–
OXYWS	New	Occidental Petroleumwarrant	$18,485,000	–	500	–	0.01%	–
UMPQ	New	Umpqua Holdings Corporation	$16,770,000	–	1,000	–	0.01%	–
HA	New	Hawaiian Holdings	$17,616,000	–	1,231	–	0.01%	–
SCHO	New	Schwab Short-Term U.S. Treasury	$14,757,000	–	300	–	0.01%	–
SCHX	New	Schwab U.S. Large Cap	$15,944,000	–	357	–	0.01%	–
SSSS	New	SuRo Capital	$15,603,000	–	2,438	–	0.01%	–
RTX	New	Raytheon Technologies	$14,032,000	–	146	–	0.01%	–
XBI	New	SPDR S&P Biotech ETF	$13,963,000	–	188	–	0.01%	–
	New	Palantir Technologies	$10,884,000	–	1,200	–	0.01%	–
TOL	New	Toll Brothers	$8,920,000	–	200	–	0.00%	–
BATRK	New	Liberty Braves Group	$9,600,000	–	400	–	0.00%	–
PYPL	New	Paypal Holdings	$8,520,000	–	122	–	0.00%	–
UBER	New	Uber Technologies	$5,729,000	–	280	–	0.00%	–
MTH	New	Meritage Homes Corporation	$7,250,000	–	100	–	0.00%	–
M	New	Macy's	$7,328,000	–	400	–	0.00%	–
R297	New	ProShares Ultra Short 20 Treasury	$5,230,000	–	200	–	0.00%	–
PSTHWS	New	Pershing Squarewarrant	$4,297,000	–	9,990	–	0.00%	–
LCI	New	Lannett Company	$2,959,000	–	5,100	–	0.00%	–
RXD	New	Proshares Ultrashort Health ETF	$1,382,000	–	100	–	0.00%	–
SQQQ	New	ProShares Ultra Short	$1,589,000	–	27	–	0.00%	–
SDRDW	New	Sandridge Energywarrant	$201,000	–	4,028	–	0.00%	–

Q4 2021

			Value		Shares		↓ Weighting
	Exit	Unit Corp. Warrants Exp 9/03/27warrant	$0	–	-9,635	–	0.00%	–
SDRDW	Exit	Sandridge Energy WTS Class B 10/4/2022warrant	$0	–	-4,028	–	0.00%	–
NDLS	Exit	Noodles & Co.	$0	–	-254	–	-0.00%	–
SWN	Exit	Southwestern Energy Company	$0	–	-1,000	–	-0.00%	–
EZPW	Exit	EZCORP Inc.	$0	–	-1,000	–	-0.00%	–
UCBI	Exit	United Community Banks, Inc.	$0	–	-220	–	-0.00%	–
MTH	Exit	Meritage Homes Corporation	$0	–	-100	–	-0.00%	–
HEP	Exit	Holly Energy Partners L.P	$0	–	-534	–	-0.00%	–
TOL	Exit	Toll Brothers Inc.	$0	–	-200	–	-0.01%	–
LVS	Exit	Las Vegas Sands Corp	$0	–	-332	–	-0.01%	–
PSTHWS	Exit	Pershing Square $25 Strikewarrant	$0	–	-9,990	–	-0.01%	–
FNMAS	Exit	Fannie Mae Preferredpref stk	$0	–	-6,000	–	-0.01%	–
EOG	Exit	EOG Resources Inc	$0	–	-200	–	-0.01%	–
OXYWS	Exit	Occidental Petroleum Warrants 8/3/2027warrant	$0	–	-1,500	–	-0.01%	–
PAGP	Exit	Plains GP Holdings, L.P.	$0	–	-1,850	–	-0.01%	–
UMPQ	Exit	Umpqua Holdings Corporation	$0	–	-1,000	–	-0.01%	–
	Exit	Volkswagen Group	$0	–	-93	–	-0.01%	–
NGL	Exit	NGL Energy Partners LP	$0	–	-9,890	–	-0.01%	–
	Exit	Aptiv PLC	$0	–	-154	–	-0.01%	–
AMJ	Exit	JP Morgan Chase Alerian ETN	$0	–	-1,199	–	-0.01%	–
GOLD	Exit	Barrick Gold Corp.	$0	–	-1,239	–	-0.01%	–
LBRDK	Exit	Liberty Broadband Co.	$0	–	-149	–	-0.01%	–
DBRG	Exit	Digitalbridge Group Inc	$0	–	-4,120	–	-0.01%	–
AGM	Exit	Federal Agricultural Mortgage	$0	–	-250	–	-0.01%	–
HA	Exit	Hawaiian Holdings Inc.	$0	–	-1,231	–	-0.01%	–
	Exit	Palantir Technologies	$0	–	-1,200	–	-0.01%	–
TSBK	Exit	Timberland Bancorp, Inc.	$0	–	-1,000	–	-0.01%	–
SSSS	Exit	SuRo Capital	$0	–	-2,356	–	-0.01%	–
PLNT	Exit	Planet Fitness Inc	$0	–	-377	–	-0.01%	–
LYV	Exit	Live Nation Entertainment Inc	$0	–	-361	–	-0.01%	–
DKS	Exit	Dicks Sporting Goods	$0	–	-257	–	-0.01%	–
ENBL	Exit	Enable Midstream Partners LP	$0	–	-4,000	–	-0.01%	–
AMT	Exit	American Tower Corp. REIT	$0	–	-117	–	-0.01%	–
WFC	Exit	Wells Fargo & Company	$0	–	-732	–	-0.02%	–
FHN	Exit	First Horizon National Corporation	$0	–	-2,450	–	-0.02%	–
BACPRL	Exit	Bank of Americaconv pref	$0	–	-29	–	-0.02%	–
TPGY	Exit	TPG Pace Beneficial Finance Corp	$0	–	-4,201	–	-0.02%	–
TK	Exit	Teekay Inc.	$0	–	-11,705	–	-0.02%	–
GOOGL	Exit	Google, Inc. - Class A	$0	–	-17	–	-0.02%	–
HRC	Exit	Hill-Rom Holdings Inc	$0	–	-300	–	-0.02%	–
O	Exit	Realty Income Corp.	$0	–	-696	–	-0.02%	–
QCOM	Exit	Qualcomm, Inc.	$0	–	-368	–	-0.02%	–
PAA	Exit	Plains All American Pipeline, L.P.	$0	–	-5,030	–	-0.02%	–
FWONK	Exit	Formula One Group	$0	–	-1,002	–	-0.02%	–
AZN	Exit	Astrazeneca PLC Common Stock	$0	–	-900	–	-0.02%	–
BHLB	Exit	Berkshire Hills Bancorp Inc	$0	–	-2,077	–	-0.02%	–
RSG	Exit	Republic Services, Inc.	$0	–	-484	–	-0.02%	–
GAN	Exit	GAN Limited	$0	–	-3,848	–	-0.02%	–
	Exit	Financial Sector SPDR	$0	–	-1,600	–	-0.03%	–
CHK	Exit	Chesapeake Energy Corporation	$0	–	-1,002	–	-0.03%	–
TWTR	Exit	Twitter, Inc.	$0	–	-1,057	–	-0.03%	–
DKNG	Exit	Draftkings Inc.	$0	–	-1,335	–	-0.03%	–
BYND	Exit	Beyond Meats	$0	–	-603	–	-0.03%	–
IRDM	Exit	Iridium Communications Inc.	$0	–	-1,578	–	-0.03%	–
LMT	Exit	Lockheed Martin Corp	$0	–	-191	–	-0.03%	–
DLR	Exit	Digital Realty Trust Inc	$0	–	-455	–	-0.03%	–
RBLX	Exit	Roblox Corp.	$0	–	-862	–	-0.03%	–
BFAM	Exit	Bright Horizon Family Solutions	$0	–	-474	–	-0.03%	–
CIIC	Exit	Arrival Corp	$0	–	-5,147	–	-0.03%	–
NEM	Exit	Newmont Mining Corp.	$0	–	-1,245	–	-0.03%	–
SAM	Exit	Boston Beer Company Inc.	$0	–	-141	–	-0.03%	–
NOC	Exit	Northrop Grumman Corporation	$0	–	-210	–	-0.03%	–
MSGS	Exit	Madison Square Garden Sports	$0	–	-421	–	-0.03%	–
	Exit	American Airlinesconv bond	$0	–	-50,000	–	-0.03%	–
SD	Exit	SandRidge Energy, Inc.	$0	–	-5,980	–	-0.03%	–
BATRK	Exit	The Liberty Braves Group	$0	–	-3,019	–	-0.04%	–
MSGE	Exit	Madison Square Garden Entertainment	$0	–	-1,137	–	-0.04%	–
NM	Exit	Navios Maritime Holdings	$0	–	-18,529	–	-0.04%	–
QQQ	Exit	PowerShares QQQ Trust	$0	–	-246	–	-0.04%	–
DVN	Exit	Devon Energy Corporation	$0	–	-2,543	–	-0.04%	–
GDRX	Exit	GoodRX Holdings Inc.	$0	–	-2,211	–	-0.04%	–
LVMUY	Exit	LVMH Moet Hennessy	$0	–	-672	–	-0.04%	–
WU	Exit	The Western Union Company	$0	–	-4,679	–	-0.04%	–
EL	Exit	Estee Lauder Co.	$0	–	-319	–	-0.04%	–
BLK	Exit	Blackrock Inc.	$0	–	-116	–	-0.04%	–
ARCO	Exit	Arcos Dorados Holdings Inc	$0	–	-19,160	–	-0.04%	–
CDNA	Exit	CareDx Inc	$0	–	-1,596	–	-0.04%	–
PALL	Exit	Aberdeen Standard Physical Palladium Share	$0	–	-561	–	-0.04%	–
DLTR	Exit	Dollar Tree, Inc.	$0	–	-1,099	–	-0.05%	–
ATUS	Exit	Altice USA, Inc.	$0	–	-5,088	–	-0.05%	–
FNB	Exit	F.N.B. Corporation	$0	–	-9,856	–	-0.05%	–
SON	Exit	Sonoco	$0	–	-1,957	–	-0.05%	–
SNBR	Exit	Sleep Number	$0	–	-1,240	–	-0.05%	–
	Exit	Voyager Digital Ltd	$0	–	-11,566	–	-0.05%	–
CASY	Exit	Casey's General Stores Inc	$0	–	-618	–	-0.05%	–
PINS	Exit	Pinterest Inc	$0	–	-2,387	–	-0.05%	–
PYYX	Exit	Pyxus Intternational Corp.	$0	–	-56,985	–	-0.06%	–
AMBA	Exit	Ambarella, Inc.	$0	–	-826	–	-0.06%	–
	Exit	FedEx Corporation	$0	–	-609	–	-0.06%	–
MA	Exit	Mastercard Inc.	$0	–	-400	–	-0.06%	–
ROKU	Exit	Roku Inc.	$0	–	-446	–	-0.06%	–
SQ	Exit	Square Inc.	$0	–	-594	–	-0.06%	–
WDFC	Exit	WD -40	$0	–	-629	–	-0.06%	–
	Exit	McDermott International Ltd	$0	–	-316,010	–	-0.07%	–
BANC	Exit	Banc of California, Inc.	$0	–	-8,512	–	-0.07%	–
UPS	Exit	United Parcel Service	$0	–	-982	–	-0.08%	–
IYF	Exit	iShares DJ US Financial Sector	$0	–	-2,452	–	-0.09%	–
DB	Exit	Deutsche Bank	$0	–	-16,400	–	-0.09%	–
FB	Exit	Facebook, Inc.	$0	–	-618	–	-0.09%	–
FNMA	Exit	Federal National Mortgage Association	$0	–	-253,208	–	-0.09%	–
TIP	Exit	iShares Barclays TIPS Bond	$0	–	-1,682	–	-0.09%	–
ORCL	Exit	Oracle Corporation	$0	–	-2,453	–	-0.09%	–
ABBV	Exit	Abbvie, Inc.	$0	–	-2,022	–	-0.10%	–
GOOG	Exit	Google, Inc. - Class C	$0	–	-84	–	-0.10%	–
EEM	Exit	iShares MSCI Emerging Markets Index	$0	–	-4,615	–	-0.10%	–
PFE	Exit	Pfizer Inc.	$0	–	-5,581	–	-0.10%	–
XOM	Exit	Exxon Mobil Corporation	$0	–	-4,140	–	-0.11%	–
FCCY	Exit	1st Constitution Bancorp.	$0	–	-10,391	–	-0.11%	–
FMCKI	Exit	Freddie Mac Preferred Series Ipref stk	$0	–	-148,105	–	-0.12%	–
HWC	Exit	Hancock Whitney Corporation	$0	–	-6,281	–	-0.13%	–
WLKP	Exit	Westlake Chemical Partners LP	$0	–	-12,900	–	-0.14%	–
AAL	Exit	American Airlines Group	$0	–	-16,164	–	-0.15%	–
SBT	Exit	Sterling Bancorp Inc. of Michigan	$0	–	-65,341	–	-0.15%	–
	Exit	EZCorp Incconv bond	$0	–	-330,000	–	-0.15%	–
THFF	Exit	The First Financial Corp.	$0	–	-8,056	–	-0.15%	–
FITB	Exit	Fifth Third Bancorp	$0	–	-8,535	–	-0.16%	–
SLYV	Exit	SPDR S&P 600 Small Cap Value ETF	$0	–	-4,442	–	-0.16%	–
SFBC	Exit	Sounds Financial Banc	$0	–	-8,310	–	-0.16%	–
TFC	Exit	Truist Financial Corp	$0	–	-7,143	–	-0.18%	–
CVCY	Exit	Central Valley Community Bancorp	$0	–	-19,671	–	-0.19%	–
UNIT	Exit	Uniti Group Inc.	$0	–	-34,755	–	-0.19%	–
CMI	Exit	Cummins Inc	$0	–	-1,914	–	-0.19%	–
NVDA	Exit	Nvidia Corp.	$0	–	-2,146	–	-0.20%	–
INGR	Exit	Ingredion Inc	$0	–	-5,328	–	-0.21%	–
CFG	Exit	Citizens Financial Group Inc.	$0	–	-10,515	–	-0.22%	–
PSTH	Exit	Pershing Square Tontine Holdings Ltd	$0	–	-26,000	–	-0.22%	–
AMZN	Exit	Amazon.com, Inc.	$0	–	-159	–	-0.23%	–
GRPN	Exit	Groupon, Inc.	$0	–	-23,515	–	-0.24%	–
UNP	Exit	Union Pacific Corporation	$0	–	-2,759	–	-0.24%	–
RS	Exit	Reliance Steel & Aluminum Co	$0	–	-3,897	–	-0.24%	–
FUSB	Exit	First US Bancshares Inc	$0	–	-52,286	–	-0.24%	–
ALL	Exit	Allstate Corporation	$0	–	-4,390	–	-0.24%	–
NTRS	Exit	Northern Trust Corp	$0	–	-5,232	–	-0.25%	–
SNA	Exit	Snap-On Inc	$0	–	-2,782	–	-0.26%	–
WBA	Exit	Walgreens Boots Alliance Inc	$0	–	-12,694	–	-0.26%	–
EGY	Exit	Vaalco Energy Inc.	$0	–	-208,780	–	-0.27%	–
BPMP	Exit	BP Midstream Partners LP	$0	–	-46,555	–	-0.27%	–
TROW	Exit	T. Rowe Price Group Inc	$0	–	-3,167	–	-0.27%	–
OCFC	Exit	OceanFirst Financial Corp.	$0	–	-29,670	–	-0.28%	–
KO	Exit	The Coca-Cola Company	$0	–	-12,319	–	-0.28%	–
SHLX	Exit	Shell Midstream Partners LP	$0	–	-55,445	–	-0.29%	–
PACW	Exit	Pacwest Bancorp	$0	–	-14,813	–	-0.30%	–
	Exit	Homestreet Inc.	$0	–	-16,535	–	-0.30%	–
INTC	Exit	Intel Corporation	$0	–	-13,028	–	-0.30%	–
BBBY	Exit	Bed Bath & Beyond	$0	–	-40,221	–	-0.30%	–
MESA	Exit	Mesa Air Group Inc	$0	–	-91,319	–	-0.31%	–
ZION	Exit	Zions Bancorp	$0	–	-11,461	–	-0.31%	–
VZ	Exit	Verizon Communications Inc.	$0	–	-13,578	–	-0.32%	–
PNC	Exit	PNC Financial Services Group, Inc	$0	–	-3,814	–	-0.33%	–
DOW	Exit	Dow Inc.	$0	–	-13,185	–	-0.33%	–
HOPE	Exit	Hope Bancorp, Inc.	$0	–	-52,768	–	-0.33%	–
CSCO	Exit	Cisco Systems, Inc.	$0	–	-14,212	–	-0.34%	–
CVLY	Exit	Codorus Bancorp Inc.	$0	–	-36,954	–	-0.36%	–
EBMT	Exit	Eagle Bancorp Montana Inc	$0	–	-39,313	–	-0.38%	–
HWBK	Exit	Hawthorn Bancshares, Inc.	$0	–	-40,052	–	-0.41%	–
KMI	Exit	Kinder Morgan, Inc.	$0	–	-55,637	–	-0.41%	–
SUP	Exit	Superior Industries International, Inc.	$0	–	-133,415	–	-0.41%	–
LGIH	Exit	LGI Homes Inc.	$0	–	-6,737	–	-0.42%	–
FRST	Exit	Primis Financial Corp.	$0	–	-66,152	–	-0.42%	–
FCCO	Exit	First Community Corp.	$0	–	-48,515	–	-0.42%	–
PKBK	Exit	Parke Bancorp Inc.	$0	–	-44,171	–	-0.42%	–
PSXP	Exit	Phillips 66 Partners, LP	$0	–	-26,957	–	-0.42%	–
NTGR	Exit	NETGEAR Inc.	$0	–	-30,601	–	-0.43%	–
SFM	Exit	Sprouts Farmers Market, Inc.	$0	–	-42,378	–	-0.43%	–
PEBK	Exit	Peoples Bancorp of NC	$0	–	-34,889	–	-0.44%	–
	Exit	Teekay Corp.conv bond	$0	–	-1,000,000	–	-0.44%	–
MRK	Exit	Merck & Co. Inc.	$0	–	-13,256	–	-0.44%	–
ESSA	Exit	Essa Bancorp Inc.	$0	–	-60,476	–	-0.44%	–
CUBI	Exit	Customers Bancorp, Inc.	$0	–	-23,488	–	-0.44%	–
ONB	Exit	Old National Bancorp	$0	–	-59,507	–	-0.44%	–
LZB	Exit	La-Z-Boy	$0	–	-31,541	–	-0.45%	–
FI	Exit	Franks International	$0	–	-354,976	–	-0.46%	–
AGX	Exit	Argan Inc.	$0	–	-24,011	–	-0.46%	–
HMNF	Exit	HMN Financial, Inc.	$0	–	-45,345	–	-0.47%	–
PFBX	Exit	Peoples Financial Corp.	$0	–	-69,303	–	-0.49%	–
FUNC	Exit	First United Corp	$0	–	-61,286	–	-0.50%	–
	Exit	Contura Energy Inc. Wtwarrant	$0	–	-63,607	–	-0.50%	–
WGP	Exit	Western Midstream Partners	$0	–	-54,973	–	-0.51%	–
YELP	Exit	Yelp, Inc.	$0	–	-31,099	–	-0.51%	–
ET	Exit	Energy Transfer LP	$0	–	-122,799	–	-0.52%	–
UBOH	Exit	United Bancshares Inc.	$0	–	-40,382	–	-0.53%	–
DKL	Exit	Delek Logistics Partners, LP	$0	–	-28,175	–	-0.56%	–
PEBO	Exit	Peoples Bancorp Inc.	$0	–	-40,725	–	-0.56%	–
CIVB	Exit	Civista Bancshares, Inc.	$0	–	-55,710	–	-0.57%	–
ARLP	Exit	Alliance Resource Partners, LP	$0	–	-122,248	–	-0.58%	–
CZWI	Exit	Citizens Community Bancorp Inc.	$0	–	-98,863	–	-0.60%	–
C	Exit	Citigroup, Inc.	$0	–	-19,419	–	-0.60%	–
MDC	Exit	MDC Holdings, Inc.	$0	–	-29,465	–	-0.60%	–
ETRN	Exit	Equitrans Midstream Corporation	$0	–	-137,342	–	-0.61%	–
	Exit	EZCorp Incconv bond	$0	–	-1,596,000	–	-0.64%	–
BAC	Exit	Bank of America	$0	–	-35,748	–	-0.67%	–
GEL	Exit	Genesis Energy LP	$0	–	-155,813	–	-0.68%	–
NMIH	Exit	NMI Holdings Inc	$0	–	-69,036	–	-0.68%	–
ENLC	Exit	EnLink Midstream LLC	$0	–	-231,239	–	-0.69%	–
CVX	Exit	Chevron Corporation	$0	–	-15,580	–	-0.69%	–
BHF	Exit	Brighthouse Financial, Inc.	$0	–	-35,553	–	-0.71%	–
NKE	Exit	Nike Inc. Class B	$0	–	-11,207	–	-0.71%	–
HEAR	Exit	Turtle Beach Corp.	$0	–	-59,477	–	-0.73%	–
	Exit	Heritage Insurance Holdingsconv bond	$0	–	-1,750,000	–	-0.73%	–
WMT	Exit	Wal-Mart Stores Inc.	$0	–	-12,002	–	-0.73%	–
TALO	Exit	Talos Energy, Inc.	$0	–	-121,906	–	-0.74%	–
IBM	Exit	International Business Machines Corp.	$0	–	-12,302	–	-0.75%	–
KE	Exit	Kimball Electronics Inc	$0	–	-67,110	–	-0.76%	–
EPD	Exit	Enterprise Products Partners, LP	$0	–	-80,593	–	-0.76%	–
TRV	Exit	The Travelers Companies, Inc.	$0	–	-11,545	–	-0.77%	–
FBMS	Exit	First Bancshares, Inc.	$0	–	-45,351	–	-0.77%	–
WTFC	Exit	Wintrust Financial	$0	–	-22,380	–	-0.79%	–
UIS	Exit	Unisys Corp	$0	–	-71,989	–	-0.79%	–
PG	Exit	Procter & Gamble Co.	$0	–	-12,956	–	-0.80%	–
BGEPF	Exit	Bungeconv pref	$0	–	-15,546	–	-0.82%	–
AXP	Exit	American Express Company	$0	–	-11,248	–	-0.83%	–
TGP	Exit	Teekay LNG Partners LP.	$0	–	-122,241	–	-0.83%	–
MMP	Exit	Magellan Midstream Partners LP	$0	–	-41,844	–	-0.84%	–
	Exit	Horizon Global Corp.conv bond	$0	–	-2,005,000	–	-0.84%	–
	Exit	Atlas Air Worldwide Holdingsconv bond	$0	–	-1,665,000	–	-0.86%	–
	Exit	Greenbriar Co.conv bond	$0	–	-1,870,000	–	-0.86%	–
MOFG	Exit	MidWest One Financial Group, Inc.	$0	–	-65,292	–	-0.86%	–
HESM	Exit	Hess Midstream Partners LP	$0	–	-70,193	–	-0.87%	–
MMM	Exit	3M Co.	$0	–	-11,438	–	-0.88%	–
DIS	Exit	Walt Disney Co.	$0	–	-11,983	–	-0.89%	–
CLF	Exit	Cleveland-Cliffs, Inc.	$0	–	-105,700	–	-0.92%	–
AATRL	Exit	AMG Capitalconv pref	$0	–	-35,806	–	-0.94%	–
ARCB	Exit	Arcbest Corp.	$0	–	-26,162	–	-0.94%	–
JPM	Exit	JPMorgan Chase & Co.	$0	–	-13,297	–	-0.96%	–
NMM	Exit	Navios Maritime Partners L.P.	$0	–	-67,981	–	-0.96%	–
	Exit	Altus Midstream Company	$0	–	-32,021	–	-0.97%	–
CAT	Exit	Caterpillar Inc.	$0	–	-11,707	–	-0.99%	–
MPLX	Exit	MPLX, L.P.	$0	–	-79,147	–	-0.99%	–
SMMF	Exit	Summit Financial Group	$0	–	-92,410	–	-0.99%	–
JNJ	Exit	Johnson & Johnson	$0	–	-14,510	–	-1.03%	–
HON	Exit	Honeywell International Inc.	$0	–	-11,591	–	-1.08%	–
V	Exit	Visa Inc. Class A	$0	–	-11,331	–	-1.11%	–
TRGP	Exit	Targa Resources Corp	$0	–	-54,955	–	-1.19%	–
BA	Exit	The Boeing Company	$0	–	-12,504	–	-1.21%	–
SBFG	Exit	SB Financial Group, Inc.	$0	–	-157,007	–	-1.25%	–
CRM	Exit	salesforce.com, inc.	$0	–	-10,579	–	-1.26%	–
UNTC	Exit	Unit Corp.	$0	–	-94,806	–	-1.27%	–
AM	Exit	Antero Midstream Corp.	$0	–	-281,897	–	-1.29%	–
MCD	Exit	McDonald's Corp.	$0	–	-12,271	–	-1.30%	–
WMB	Exit	Williams Companies, Inc.	$0	–	-116,358	–	-1.32%	–
AAPL	Exit	Apple, Inc.	$0	–	-22,718	–	-1.41%	–
AMGN	Exit	Amgen Inc.	$0	–	-16,388	–	-1.53%	–
OKE	Exit	ONEOK Inc.	$0	–	-60,510	–	-1.54%	–
MSFT	Exit	Microsoft Corporation	$0	–	-13,526	–	-1.67%	–
HD	Exit	The Home Depot, Inc.	$0	–	-12,033	–	-1.73%	–
CWGRP	Exit	Cowenconv pref	$0	–	-2,970	–	-1.77%	–
AMR	Exit	Alpha Metallurgical Resources, Inc	$0	–	-85,495	–	-1.87%	–
GS	Exit	The Goldman Sachs Group, Inc.	$0	–	-11,655	–	-1.93%	–
UNH	Exit	UnitedHealth Group Inc	$0	–	-11,647	–	-2.00%	–
QCRH	Exit	QCR Holdings Inc.	$0	–	-90,288	–	-2.04%	–
DIA	Exit	SPDR Dow Jones Industrial Average	$0	–	-31,816	–	-4.72%	–

Q3 2021

			Value		Shares		↓ Weighting
DIA	Sell	SPDR Dow Jones Industrial Average	$10,762,879,000	-6.2%	31,816	-4.3%	4.72%	-10.4%
QCRH	Sell	QCR Holdings Inc.	$4,644,404,000	+6.9%	90,288	-0.1%	2.04%	+2.0%
UNH	Sell	UnitedHealth Group Inc	$4,550,949,000	-4.6%	11,647	-2.2%	2.00%	-8.9%
GS	Sell	The Goldman Sachs Group, Inc.	$4,405,940,000	-2.2%	11,655	-1.8%	1.93%	-6.7%
AMR	Sell	Alpha Metallurgical Resources, Inc	$4,256,796,000	+74.9%	85,495	-10.0%	1.87%	+66.9%
HD	Sell	The Home Depot, Inc.	$3,949,953,000	+1.1%	12,033	-1.8%	1.73%	-3.5%
MSFT	Buy	Microsoft Corporation	$3,813,386,000	+5.7%	13,526	+1.6%	1.67%	+0.8%
OKE	Buy	ONEOK Inc.	$3,508,975,000	+4.6%	60,510	+0.3%	1.54%	-0.2%
AMGN	Sell	Amgen Inc.	$3,484,908,000	-14.1%	16,388	-1.5%	1.53%	-18.0%
AAPL	Sell	Apple, Inc.	$3,214,562,000	-2.0%	22,718	-5.1%	1.41%	-6.5%
WMB	Buy	Williams Companies, Inc.	$3,018,339,000	-1.4%	116,358	+0.9%	1.32%	-5.9%
MCD	Sell	McDonald's Corp.	$2,958,661,000	+2.0%	12,271	-2.3%	1.30%	-2.7%
AM	Buy	Antero Midstream Corp.	$2,937,363,000	+2.1%	281,897	+1.8%	1.29%	-2.6%
UNTC	Buy	Unit Corp.	$2,891,583,000	+116.2%	94,806	+19.4%	1.27%	+106.3%
CRM	Sell	salesforce.com, inc.	$2,869,236,000	+8.5%	10,579	-2.3%	1.26%	+3.5%
SBFG	Buy	SB Financial Group, Inc.	$2,854,796,000	-1.7%	157,007	+0.0%	1.25%	-6.2%
BA	Sell	The Boeing Company	$2,750,130,000	-10.1%	12,504	-2.0%	1.21%	-14.2%
TRGP	Buy	Targa Resources Corp	$2,704,335,000	+13.4%	54,955	+2.5%	1.19%	+8.3%
V	Sell	Visa Inc. Class A	$2,523,980,000	-7.3%	11,331	-2.7%	1.11%	-11.6%
HON	Sell	Honeywell International Inc.	$2,460,537,000	-4.8%	11,591	-1.6%	1.08%	-9.1%
JNJ	Sell	Johnson & Johnson	$2,343,365,000	-4.1%	14,510	-2.1%	1.03%	-8.5%
SMMF	Buy	Summit Financial Group	$2,264,970,000	+11.4%	92,410	+0.0%	0.99%	+6.3%
MPLX	Buy	MPLX, L.P.	$2,253,318,000	-3.7%	79,147	+0.1%	0.99%	-8.1%
CAT	Sell	Caterpillar Inc.	$2,247,393,000	-13.9%	11,707	-2.4%	0.99%	-17.8%
	Sell	Altus Midstream Company	$2,210,410,000	+1.6%	32,021	-0.7%	0.97%	-3.1%
NMM	Buy	Navios Maritime Partners L.P.	$2,199,197,000	+786.9%	67,981	+710.5%	0.96%	+746.5%
JPM	Sell	JPMorgan Chase & Co.	$2,176,586,000	+1.2%	13,297	-3.8%	0.96%	-3.3%
ARCB	Sell	Arcbest Corp.	$2,139,267,000	+39.1%	26,162	-1.0%	0.94%	+32.8%
AATRL	Sell	AMG Capitalconv pref	$2,130,457,000	-1.4%	35,806	-0.6%	0.94%	-5.8%
CLF	Sell	Cleveland-Cliffs, Inc.	$2,093,917,000	-9.4%	105,700	-1.4%	0.92%	-13.5%
DIS	Sell	Walt Disney Co.	$2,027,102,000	-6.6%	11,983	-3.0%	0.89%	-10.9%
MMM	Sell	3M Co.	$2,006,454,000	-13.8%	11,438	-2.4%	0.88%	-17.8%
HESM	Buy	Hess Midstream Partners LP	$1,980,145,000	+15.5%	70,193	+3.4%	0.87%	+10.3%
MOFG	Buy	MidWest One Financial Group, Inc.	$1,969,207,000	+14.3%	65,292	+9.0%	0.86%	+9.1%
MMP	Buy	Magellan Midstream Partners LP	$1,907,250,000	-3.0%	41,844	+4.1%	0.84%	-7.4%
TGP	Buy	Teekay LNG Partners LP.	$1,900,848,000	+6.9%	122,241	+3.8%	0.83%	+2.1%
AXP	Sell	American Express Company	$1,884,377,000	-1.1%	11,248	-2.5%	0.83%	-5.6%
PG	Sell	Procter & Gamble Co.	$1,811,249,000	+2.2%	12,956	-1.3%	0.80%	-2.5%
UIS	Sell	Unisys Corp	$1,809,803,000	-1.9%	71,989	-1.2%	0.79%	-6.4%
TRV	Sell	The Travelers Companies, Inc.	$1,754,955,000	-0.9%	11,545	-2.4%	0.77%	-5.4%
EPD	Buy	Enterprise Products Partners, LP	$1,744,033,000	-8.7%	80,593	+1.8%	0.76%	-12.9%
KE	Sell	Kimball Electronics Inc	$1,729,425,000	+17.9%	67,110	-0.5%	0.76%	+12.6%
IBM	Sell	International Business Machines Corp.	$1,709,117,000	-7.8%	12,302	-2.8%	0.75%	-12.1%
TALO	Buy	Talos Energy, Inc.	$1,678,646,000	-9.3%	121,906	+3.0%	0.74%	-13.4%
WMT	Sell	Wal-Mart Stores Inc.	$1,672,876,000	-2.9%	12,002	-1.8%	0.73%	-7.3%
	New	Heritage Insurance Holdingsconv bond	$1,669,157,000	–	1,750,000	–	0.73%	–
HEAR	Sell	Turtle Beach Corp.	$1,654,650,000	-13.0%	59,477	-0.2%	0.73%	-17.0%
NKE	Sell	Nike Inc. Class B	$1,627,593,000	-9.9%	11,207	-4.1%	0.71%	-14.1%
BHF	Buy	Brighthouse Financial, Inc.	$1,608,062,000	+3.6%	35,553	+4.3%	0.71%	-1.0%
CVX	Buy	Chevron Corporation	$1,580,591,000	-2.8%	15,580	+0.3%	0.69%	-7.4%
ENLC	Sell	EnLink Midstream LLC	$1,577,051,000	+6.6%	231,239	-0.1%	0.69%	+1.8%
NMIH	Sell	NMI Holdings Inc	$1,560,904,000	+0.4%	69,036	-0.1%	0.68%	-4.2%
GEL	Buy	Genesis Energy LP	$1,553,456,000	-13.8%	155,813	+0.3%	0.68%	-17.7%
ETRN	Buy	Equitrans Midstream Corporation	$1,392,646,000	+23.0%	137,342	+3.2%	0.61%	+17.3%
MDC	Sell	MDC Holdings, Inc.	$1,376,605,000	-11.4%	29,465	-4.1%	0.60%	-15.5%
C	Buy	Citigroup, Inc.	$1,362,825,000	+0.3%	19,419	+1.1%	0.60%	-4.3%
CZWI	Sell	Citizens Community Bancorp Inc.	$1,359,366,000	+0.3%	98,863	-0.2%	0.60%	-4.3%
ARLP	Buy	Alliance Resource Partners, LP	$1,328,836,000	+52.6%	122,248	+1.2%	0.58%	+45.8%
PEBO	New	Peoples Bancorp Inc.	$1,287,318,000	–	40,725	–	0.56%	–
UBOH	Sell	United Bancshares Inc.	$1,209,451,000	-16.4%	40,382	-0.0%	0.53%	-20.2%
ET	Buy	Energy Transfer LP	$1,176,416,000	-8.7%	122,799	+1.3%	0.52%	-12.8%
YELP	Sell	Yelp, Inc.	$1,158,127,000	-7.0%	31,099	-0.2%	0.51%	-11.2%
WGP	Buy	Western Midstream Partners	$1,152,234,000	-1.4%	54,973	+0.8%	0.51%	-5.8%
FUNC	Buy	First United Corp	$1,139,920,000	+10.5%	61,286	+3.5%	0.50%	+5.5%
AGX	Buy	Argan Inc.	$1,048,560,000	-4.0%	24,011	+5.1%	0.46%	-8.4%
FI	Buy	Franks International	$1,043,629,000	-1.3%	354,976	+1.7%	0.46%	-5.8%
LZB	Buy	La-Z-Boy	$1,016,566,000	-10.9%	31,541	+2.5%	0.45%	-14.9%
CUBI	Buy	Customers Bancorp, Inc.	$1,010,454,000	+111.0%	23,488	+91.3%	0.44%	+101.4%
MRK	Sell	Merck & Co. Inc.	$995,658,000	-6.0%	13,256	-2.7%	0.44%	-10.3%
SFM	New	Sprouts Farmers Market, Inc.	$981,898,000	–	42,378	–	0.43%	–
NTGR	New	NETGEAR Inc.	$976,478,000	–	30,601	–	0.43%	–
PSXP	Buy	Phillips 66 Partners, LP	$966,404,000	-8.5%	26,957	+0.8%	0.42%	-12.6%
LGIH	Sell	LGI Homes Inc.	$956,048,000	-13.0%	6,737	-0.7%	0.42%	-17.0%
SUP	Buy	Superior Industries International, Inc.	$940,574,000	-15.7%	133,415	+3.0%	0.41%	-19.5%
KMI	Buy	Kinder Morgan, Inc.	$930,807,000	-3.0%	55,637	+5.7%	0.41%	-7.5%
HWBK	Buy	Hawthorn Bancshares, Inc.	$927,603,000	+52.2%	40,052	+50.7%	0.41%	+45.4%
CSCO	Sell	Cisco Systems, Inc.	$773,559,000	-2.7%	14,212	-5.2%	0.34%	-7.1%
HOPE	New	Hope Bancorp, Inc.	$761,970,000	–	52,768	–	0.33%	–
DOW	Sell	Dow Inc.	$758,932,000	-12.7%	13,185	-4.0%	0.33%	-16.8%
VZ	Sell	Verizon Communications Inc.	$733,348,000	-7.1%	13,578	-3.6%	0.32%	-11.3%
MESA	Buy	Mesa Air Group Inc	$699,504,000	-14.8%	91,319	+3.7%	0.31%	-18.8%
BBBY	Buy	Bed Bath & Beyond	$694,818,000	+3.8%	40,221	+100.1%	0.30%	-1.0%
INTC	Sell	Intel Corporation	$694,132,000	-12.5%	13,028	-7.8%	0.30%	-16.4%
SHLX	Buy	Shell Midstream Partners LP	$652,588,000	-19.4%	55,445	+1.1%	0.29%	-23.1%
KO	Sell	The Coca-Cola Company	$646,378,000	-5.2%	12,319	-2.2%	0.28%	-9.3%
BPMP	Buy	BP Midstream Partners LP	$616,854,000	-8.1%	46,555	+0.4%	0.27%	-12.3%
WBA	Sell	Walgreens Boots Alliance Inc	$597,253,000	-12.9%	12,694	-2.6%	0.26%	-16.8%
FUSB	Buy	First US Bancshares Inc	$559,460,000	+41.0%	52,286	+44.4%	0.24%	+34.6%
GRPN	Buy	Groupon, Inc.	$536,377,000	-42.4%	23,515	+9.0%	0.24%	-45.1%
AMZN	New	Amazon.com, Inc.	$522,321,000	–	159	–	0.23%	–
PSTH	Buy	Pershing Square Tontine Holdings Ltd	$512,200,000	+1177.9%	26,000	+1376.4%	0.22%	+1150.0%
NVDA	New	Nvidia Corp.	$444,619,000	–	2,146	–	0.20%	–
SLYV	Sell	SPDR S&P 600 Small Cap Value ETF	$364,066,000	-21.4%	4,442	-17.8%	0.16%	-24.9%
SBT	New	Sterling Bancorp Inc. of Michigan	$337,160,000	–	65,341	–	0.15%	–
XOM	Buy	Exxon Mobil Corporation	$243,515,000	+22.4%	4,140	+31.3%	0.11%	+17.6%
PFE	Sell	Pfizer Inc.	$240,039,000	+4.1%	5,581	-5.2%	0.10%	-0.9%
EEM	New	iShares MSCI Emerging Markets Index	$232,504,000	–	4,615	–	0.10%	–
GOOG	New	Google, Inc. - Class C	$223,886,000	–	84	–	0.10%	–
ABBV	New	Abbvie, Inc.	$218,113,000	–	2,022	–	0.10%	–
TIP	Sell	iShares Barclays TIPS Bond	$214,828,000	-0.5%	1,682	-0.2%	0.09%	-5.1%
FNMA	Sell	Federal National Mortgage Association	$212,695,000	-46.2%	253,208	-0.1%	0.09%	-48.9%
FB	New	Facebook, Inc.	$209,743,000	–	618	–	0.09%	–
UPS	New	United Parcel Service	$178,822,000	–	982	–	0.08%	–
WDFC	New	WD -40	$145,601,000	–	629	–	0.06%	–
SQ	New	Square Inc.	$142,465,000	–	594	–	0.06%	–
MA	New	Mastercard Inc.	$139,072,000	–	400	–	0.06%	–
ROKU	New	Roku Inc.	$139,754,000	–	446	–	0.06%	–
	New	FedEx Corporation	$133,548,000	–	609	–	0.06%	–
AMBA	New	Ambarella, Inc.	$128,641,000	–	826	–	0.06%	–
PYYX	Sell	Pyxus Intternational Corp.	$126,222,000	-39.6%	56,985	-0.5%	0.06%	-42.7%
PINS	New	Pinterest Inc	$121,618,000	–	2,387	–	0.05%	–
SNBR	New	Sleep Number	$115,915,000	–	1,240	–	0.05%	–
	New	Voyager Digital Ltd	$115,660,000	–	11,566	–	0.05%	–
CASY	New	Casey's General Stores Inc	$116,462,000	–	618	–	0.05%	–
SON	New	Sonoco	$116,598,000	–	1,957	–	0.05%	–
DLTR	New	Dollar Tree, Inc.	$105,196,000	–	1,099	–	0.05%	–
ATUS	New	Altice USA, Inc.	$105,423,000	–	5,088	–	0.05%	–
PALL	New	Aberdeen Standard Physical Palladium Share	$100,054,000	–	561	–	0.04%	–
CDNA	New	CareDx Inc	$101,139,000	–	1,596	–	0.04%	–
ARCO	Buy	Arcos Dorados Holdings Inc	$98,099,000	-12.7%	19,160	+1.8%	0.04%	-17.3%
BLK	New	Blackrock Inc.	$97,285,000	–	116	–	0.04%	–
LVMUY	New	LVMH Moet Hennessy	$96,284,000	–	672	–	0.04%	–
WU	New	The Western Union Company	$94,609,000	–	4,679	–	0.04%	–
EL	New	Estee Lauder Co.	$95,678,000	–	319	–	0.04%	–
GDRX	New	GoodRX Holdings Inc.	$90,695,000	–	2,211	–	0.04%	–
MSGE	New	Madison Square Garden Entertainment	$82,626,000	–	1,137	–	0.04%	–
BATRK	New	The Liberty Braves Group	$79,762,000	–	3,019	–	0.04%	–
MSGS	New	Madison Square Garden Sports	$78,285,000	–	421	–	0.03%	–
NOC	New	Northrop Grumman Corporation	$75,632,000	–	210	–	0.03%	–
SAM	New	Boston Beer Company Inc.	$71,875,000	–	141	–	0.03%	–
CIIC	Buy	Arrival Corp	$67,683,000	-12.5%	5,147	+4.3%	0.03%	-16.7%
NEM	Buy	Newmont Mining Corp.	$67,604,000	-1.2%	1,245	+15.3%	0.03%	-3.2%
DLR	New	Digital Realty Trust Inc	$65,725,000	–	455	–	0.03%	–
RBLX	New	Roblox Corp.	$65,124,000	–	862	–	0.03%	–
BFAM	New	Bright Horizon Family Solutions	$66,085,000	–	474	–	0.03%	–
LMT	New	Lockheed Martin Corp	$65,914,000	–	191	–	0.03%	–
BYND	New	Beyond Meats	$63,472,000	–	603	–	0.03%	–
DKNG	New	Draftkings Inc.	$64,294,000	–	1,335	–	0.03%	–
TWTR	New	Twitter, Inc.	$63,832,000	–	1,057	–	0.03%	–
RSG	New	Republic Services, Inc.	$58,109,000	–	484	–	0.02%	–
GAN	New	GAN Limited	$57,220,000	–	3,848	–	0.02%	–
FWONK	New	Formula One Group	$51,513,000	–	1,002	–	0.02%	–
QCOM	New	Qualcomm, Inc.	$47,465,000	–	368	–	0.02%	–
GOOGL	New	Google, Inc. - Class A	$45,450,000	–	17	–	0.02%	–
O	New	Realty Income Corp.	$45,143,000	–	696	–	0.02%	–
HRC	New	Hill-Rom Holdings Inc	$45,000,000	–	300	–	0.02%	–
TPGY	New	TPG Pace Beneficial Finance Corp	$44,321,000	–	4,201	–	0.02%	–
FHN	New	First Horizon National Corporation	$39,911,000	–	2,450	–	0.02%	–
WFC	New	Wells Fargo & Company	$33,972,000	–	732	–	0.02%	–
DKS	New	Dicks Sporting Goods	$30,781,000	–	257	–	0.01%	–
LYV	New	Live Nation Entertainment Inc	$32,898,000	–	361	–	0.01%	–
AMT	New	American Tower Corp. REIT	$31,053,000	–	117	–	0.01%	–
PLNT	New	Planet Fitness Inc	$29,613,000	–	377	–	0.01%	–
SSSS	Buy	SuRo Capital	$30,416,000	+0.4%	2,356	+4.9%	0.01%	-7.1%
DBRG	New	Digitalbridge Group Inc	$24,844,000	–	4,120	–	0.01%	–
LBRDK	New	Liberty Broadband Co.	$25,732,000	–	149	–	0.01%	–
NGL	Sell	NGL Energy Partners LP	$23,439,000	-18.5%	9,890	-18.2%	0.01%	-23.1%
	New	Aptiv PLC	$22,941,000	–	154	–	0.01%	–
GOLD	Buy	Barrick Gold Corp.	$22,364,000	+108.4%	1,239	+138.7%	0.01%	+100.0%
	New	Volkswagen Group	$20,860,000	–	93	–	0.01%	–
OXYWS	New	Occidental Petroleum Warrants 8/3/2027warrant	$17,775,000	–	1,500	–	0.01%	–
PSTHWS	Sell	Pershing Square $25 Strikewarrant	$12,887,000	-93.0%	9,990	-66.0%	0.01%	-92.9%
LVS	New	Las Vegas Sands Corp	$12,151,000	–	332	–	0.01%	–
HEP	New	Holly Energy Partners L.P	$9,788,000	–	534	–	0.00%	–
UCBI	New	United Community Banks, Inc.	$7,220,000	–	220	–	0.00%	–
NDLS	New	Noodles & Co.	$2,997,000	–	254	–	0.00%	–
MCDBF	Exit	McDermottwarrant	$0	–	-72,441	–	0.00%	–
SDRDW	New	Sandridge Energy WTS Class B 10/4/2022warrant	$166,000	–	4,028	–	0.00%	–
MCDTF	Exit	McDermottwarrant	$0	–	-65,197	–	0.00%	–
INO	Exit	Inovio Pharmaceuticals	$0	–	-500	–	-0.00%	–
M	Exit	Macy's	$0	–	-400	–	-0.00%	–
DHI	Exit	DR Horton	$0	–	-150	–	-0.01%	–
TNK	Exit	Teekay Tankers	$0	–	-1,261	–	-0.01%	–
GM	Exit	General Motors	$0	–	-400	–	-0.01%	–
VTRS	Exit	Viatris	$0	–	-2,795	–	-0.02%	–
CHKEL	Exit	Chesapeake Energy Corporationwarrant	$0	–	-2,043	–	-0.02%	–
	Exit	Chesapeake Energyconv bond	$0	–	-2,883,000	–	-0.03%	–
MO	Exit	Altria	$0	–	-1,686	–	-0.04%	–
F	Exit	Ford	$0	–	-5,617	–	-0.04%	–
ETSY	Exit	Etsy	$0	–	-900	–	-0.08%	–
GE	Exit	General Electric Company	$0	–	-13,916	–	-0.09%	–
BANF	Exit	BancFirst Corporation	$0	–	-3,305	–	-0.10%	–
BOKF	Exit	BOK Financial	$0	–	-4,027	–	-0.16%	–
LCI	Exit	Lannett Company	$0	–	-93,348	–	-0.20%	–
PFBI	Exit	Premier Financial Bancorp	$0	–	-70,259	–	-0.54%	–
	Exit	Synapticsconv bond	$0	–	-1,335,000	–	-1.31%	–

Q2 2021

			Value		Shares		↓ Weighting
DIA	New	SPDR Dow Jones Industrial Average	$11,468,864,000	–	33,248	–	5.27%	–
UNH	New	UnitedHealth Group	$4,770,041,000	–	11,912	–	2.19%	–
CWGRP	New	Cowenconv pref	$4,676,032,000	–	2,970	–	2.15%	–
GS	New	Goldman Sachs	$4,506,539,000	–	11,874	–	2.07%	–
QCRH	New	QCR Holdings	$4,345,389,000	–	90,360	–	2.00%	–
AMGN	New	Amgen	$4,055,513,000	–	16,638	–	1.86%	–
HD	New	Home Depot	$3,907,040,000	–	12,252	–	1.80%	–
MSFT	New	Microsoft Corporation	$3,607,974,000	–	13,318	–	1.66%	–
OKE	New	ONEOK	$3,355,148,000	–	60,301	–	1.54%	–
AAPL	New	Apple	$3,278,887,000	–	23,940	–	1.51%	–
WMB	New	Williams Companies	$3,061,162,000	–	115,298	–	1.41%	–
BA	New	Boeing	$3,057,744,000	–	12,764	–	1.41%	–
SBFG	New	SB Financial Group	$2,904,606,000	–	157,006	–	1.34%	–
MCD	New	McDonald's	$2,900,310,000	–	12,556	–	1.33%	–
AM	New	Antero Midstream Corp	$2,876,884,000	–	276,890	–	1.32%	–
	New	Synapticsconv bond	$2,844,378,000	–	1,335,000	–	1.31%	–
V	New	Visa	$2,721,899,000	–	11,641	–	1.25%	–
CRM	New	salesforce.com	$2,645,200,000	–	10,829	–	1.22%	–
CAT	New	Caterpillar	$2,609,819,000	–	11,992	–	1.20%	–
HON	New	Honeywell International	$2,583,943,000	–	11,780	–	1.19%	–
JNJ	New	Johnson & Johnson	$2,442,765,000	–	14,828	–	1.12%	–
AMR	New	Alpha Metallurgical Resources	$2,434,184,000	–	94,974	–	1.12%	–
TRGP	New	Targa Resources Corp	$2,383,764,000	–	53,628	–	1.10%	–
MPLX	New	MPLX	$2,340,881,000	–	79,057	–	1.08%	–
MMM	New	3M	$2,327,348,000	–	11,717	–	1.07%	–
CLF	New	Cleveland-Cliffs	$2,311,232,000	–	107,200	–	1.06%	–
	New	Altus Midstream	$2,176,455,000	–	32,239	–	1.00%	–
DIS	New	Disney	$2,170,695,000	–	12,350	–	1.00%	–
AATRL	New	AMGconv pref	$2,160,000,000	–	36,006	–	0.99%	–
JPM	New	JPMorgan Chase	$2,149,874,000	–	13,822	–	0.99%	–
SMMF	New	Summit Financial Group	$2,033,928,000	–	92,409	–	0.94%	–
	New	Greenbriarconv bond	$2,003,051,000	–	1,870,000	–	0.92%	–
MMP	New	Magellan Midstream Partners	$1,965,986,000	–	40,196	–	0.90%	–
	New	Horizon Globalconv bond	$1,954,474,000	–	2,005,000	–	0.90%	–
EPD	New	Enterprise Products Partners	$1,909,962,000	–	79,153	–	0.88%	–
AXP	New	American Express Company	$1,905,598,000	–	11,533	–	0.88%	–
HEAR	New	Turtle Beach	$1,902,049,000	–	59,588	–	0.88%	–
IBM	New	International Business Machines Corp.	$1,854,510,000	–	12,651	–	0.85%	–
TALO	New	Talos Energy	$1,851,322,000	–	118,371	–	0.85%	–
UIS	New	Unisys Corp	$1,844,314,000	–	72,869	–	0.85%	–
NKE	New	Nike	$1,806,297,000	–	11,692	–	0.83%	–
BGEPF	New	Bungeconv pref	$1,806,912,000	–	15,546	–	0.83%	–
GEL	New	Genesis Energy	$1,802,754,000	–	155,276	–	0.83%	–
	New	Atlas Air Worldwide Holdingsconv bond	$1,801,230,000	–	1,665,000	–	0.83%	–
TGP	New	Teekay LNG Partners	$1,777,874,000	–	117,818	–	0.82%	–
PG	New	Procter & Gamble	$1,771,631,000	–	13,130	–	0.82%	–
TRV	New	Travelers	$1,770,171,000	–	11,824	–	0.81%	–
MOFG	New	MidWest One Financial	$1,722,891,000	–	59,885	–	0.79%	–
WMT	New	Wal-Mart Stores	$1,723,340,000	–	12,221	–	0.79%	–
HESM	New	Hess Midstream Partners	$1,713,920,000	–	67,878	–	0.79%	–
FBMS	New	First Bancshares	$1,697,488,000	–	45,351	–	0.78%	–
WTFC	New	Wintrust Financial	$1,692,599,000	–	22,380	–	0.78%	–
CVX	New	Chevron Corporation	$1,626,193,000	–	15,526	–	0.75%	–
MDC	New	MDC Holdings	$1,554,331,000	–	30,718	–	0.72%	–
NMIH	New	NMI Holdings	$1,554,132,000	–	69,134	–	0.72%	–
BHF	New	Brighthouse Financial	$1,551,776,000	–	34,075	–	0.71%	–
ARCB	New	Arcbest Corp	$1,537,554,000	–	26,423	–	0.71%	–
ENLC	New	EnLink Midstream	$1,479,120,000	–	231,474	–	0.68%	–
BAC	New	Bank of America	$1,473,890,000	–	35,748	–	0.68%	–
KE	New	Kimball Electronics	$1,466,798,000	–	67,470	–	0.67%	–
UBOH	New	United Bancshares	$1,446,301,000	–	40,399	–	0.66%	–
	New	EZCorp Incconv bond	$1,392,792,000	–	1,596,000	–	0.64%	–
C	New	Citigroup	$1,358,683,000	–	19,204	–	0.62%	–
CZWI	New	Citizens Community Bancorp	$1,355,496,000	–	99,086	–	0.62%	–
UNTC	New	Unit Corp	$1,337,469,000	–	79,375	–	0.62%	–
ET	New	Energy Transfer	$1,288,613,000	–	121,224	–	0.59%	–
YELP	New	Yelp	$1,244,954,000	–	31,155	–	0.57%	–
CIVB	New	Civista Bancshares	$1,231,191,000	–	55,710	–	0.57%	–
PFBI	New	Premier Financial Bancorp	$1,183,868,000	–	70,259	–	0.54%	–
DKL	New	Delek Logistics Partners	$1,182,223,000	–	28,175	–	0.54%	–
WGP	New	Western Midstream Partners	$1,168,525,000	–	54,553	–	0.54%	–
LZB	New	La-Z-Boy	$1,140,313,000	–	30,786	–	0.52%	–
ETRN	New	Equitrans Midstream	$1,132,144,000	–	133,037	–	0.52%	–
SUP	New	Superior Industries	$1,116,072,000	–	129,475	–	0.51%	–
PFBX	New	Peoples Financial Corp	$1,100,185,000	–	69,303	–	0.51%	–
LGIH	New	LGI Homes	$1,098,439,000	–	6,783	–	0.50%	–
AGX	New	Argan	$1,092,002,000	–	22,850	–	0.50%	–
MRK	New	Merck	$1,059,150,000	–	13,619	–	0.49%	–
FI	New	Frank's International	$1,057,640,000	–	349,056	–	0.49%	–
PSXP	New	Phillips 66 Partners	$1,055,669,000	–	26,753	–	0.48%	–
ONB	New	Old National Bancorp	$1,047,918,000	–	59,507	–	0.48%	–
FUNC	New	First United Corp	$1,031,595,000	–	59,185	–	0.47%	–
FRST	New	Primis Financial	$1,009,480,000	–	66,152	–	0.46%	–
ESSA	New	Essa Bancorp	$991,202,000	–	60,476	–	0.46%	–
FCCO	New	First Community Corp	$980,003,000	–	48,515	–	0.45%	–
HMNF	New	HMN Financial	$965,849,000	–	45,345	–	0.44%	–
	New	Teekay Corpconv bond	$963,341,000	–	1,000,000	–	0.44%	–
KMI	New	Kinder Morgan	$959,664,000	–	52,642	–	0.44%	–
GRPN	New	Groupon	$931,479,000	–	21,582	–	0.43%	–
EBMT	New	Eagle Bancorp Montana	$904,199,000	–	39,313	–	0.42%	–
PEBK	New	Peoples Bancorp of NC	$900,136,000	–	34,889	–	0.41%	–
DOW	New	Dow	$869,345,000	–	13,738	–	0.40%	–
ARLP	New	Alliance Resource Partners	$870,593,000	–	120,748	–	0.40%	–
PKBK	New	Parke Bancorp	$863,981,000	–	44,171	–	0.40%	–
MESA	New	Mesa Air Group	$821,292,000	–	88,027	–	0.38%	–
SHLX	New	Shell Midstream Partners	$809,913,000	–	54,835	–	0.37%	–
INTC	New	Intel Corporation	$793,258,000	–	14,130	–	0.36%	–
CSCO	New	Cisco Systems	$794,735,000	–	14,995	–	0.36%	–
VZ	New	Verizon Communications Inc.	$789,463,000	–	14,090	–	0.36%	–
CVLY	New	Codorus Bancorp	$740,563,000	–	36,954	–	0.34%	–
PNC	New	PNC Financial Services	$727,559,000	–	3,814	–	0.34%	–
WBA	New	Walgreens Boots Alliance	$685,982,000	–	13,039	–	0.32%	–
KO	New	Coca-Cola Company	$681,678,000	–	12,598	–	0.31%	–
EGY	New	Vaalco Energy	$678,535,000	–	208,780	–	0.31%	–
	New	Homestreet	$673,636,000	–	16,535	–	0.31%	–
BPMP	New	BP Midstream Partners	$671,220,000	–	46,355	–	0.31%	–
BBBY	New	Bed Bath & Beyond	$669,129,000	–	20,100	–	0.31%	–
TROW	New	T. Rowe Price	$626,971,000	–	3,167	–	0.29%	–
SNA	New	Snap-On	$621,582,000	–	2,782	–	0.29%	–
OCFC	New	OceanFirst Financial Corp	$618,323,000	–	29,670	–	0.28%	–
PACW	New	Pacwest Bancorp	$609,703,000	–	14,813	–	0.28%	–
HWBK	New	Hawthorn Bancshares	$609,296,000	–	26,572	–	0.28%	–
ZION	New	Zions Bancorp	$605,828,000	–	11,461	–	0.28%	–
UNP	New	Union Pacific Corporation	$606,787,000	–	2,759	–	0.28%	–
NTRS	New	Northern Trust Corp	$604,924,000	–	5,232	–	0.28%	–
RS	New	Reliance Steel & Aluminum	$588,057,000	–	3,897	–	0.27%	–
ALL	New	Allstate Corporation	$572,632,000	–	4,390	–	0.26%	–
CFG	New	Citizens Financial Group	$482,323,000	–	10,515	–	0.22%	–
INGR	New	Ingredion	$482,184,000	–	5,328	–	0.22%	–
CUBI	New	Customers Bancorp	$478,797,000	–	12,280	–	0.22%	–
CMI	New	Cummins Inc	$466,652,000	–	1,914	–	0.22%	–
SLYV	New	SPDR S&P 600 Small Cap Value	$463,005,000	–	5,402	–	0.21%	–
LCI	New	Lannett Company	$435,935,000	–	93,348	–	0.20%	–
CVCY	New	Central Valley Community Bancorp	$396,371,000	–	19,671	–	0.18%	–
FUSB	New	First US Bancshares	$396,752,000	–	36,200	–	0.18%	–
TFC	New	Truist Financial	$396,437,000	–	7,143	–	0.18%	–
FNMA	New	Federal National Mortgage Association	$395,480,000	–	253,513	–	0.18%	–
SFBC	New	Sounds Financial	$382,177,000	–	8,310	–	0.18%	–
UNIT	New	Uniti Group	$368,055,000	–	34,755	–	0.17%	–
WLKP	New	Westlake Chemical Partners	$347,268,000	–	12,900	–	0.16%	–
BOKF	New	BOK Financial	$348,738,000	–	4,027	–	0.16%	–
AAL	New	American Airlines Group	$342,838,000	–	16,164	–	0.16%	–
THFF	New	The First Financial Corp	$328,855,000	–	8,056	–	0.15%	–
FITB	New	Fifth Third Bancorp	$326,293,000	–	8,535	–	0.15%	–
	New	EZCorp Incconv bond	$321,288,000	–	330,000	–	0.15%	–
HWC	New	Hancock Whitney Corporation	$279,128,000	–	6,281	–	0.13%	–
FMCKI	New	Freddie Macpref stk	$262,146,000	–	148,105	–	0.12%	–
NMM	New	Navios Maritime Partners	$247,960,000	–	8,388	–	0.11%	–
PFE	New	Pfizer	$230,574,000	–	5,888	–	0.11%	–
TIP	New	iShares Barclays TIPS Bond	$215,878,000	–	1,686	–	0.10%	–
FCCY	New	1st Constitution Bancorp	$214,981,000	–	10,391	–	0.10%	–
DB	New	Deutsche Bank	$214,512,000	–	16,400	–	0.10%	–
	New	Contura Energywarrant	$213,720,000	–	63,607	–	0.10%	–
PYYX	New	Pyxus Intternational	$209,127,000	–	57,295	–	0.10%	–
BANF	New	BancFirst Corporation	$206,331,000	–	3,305	–	0.10%	–
XOM	New	Exxon Mobil Corporation	$198,891,000	–	3,153	–	0.09%	–
IYF	New	iShares DJ US Financial Sector	$198,735,000	–	2,452	–	0.09%	–
ORCL	New	Oracle Corporation	$190,942,000	–	2,453	–	0.09%	–
GE	New	General Electric Company	$187,313,000	–	13,916	–	0.09%	–
PSTHWS	New	Pershing Squarewarrant	$185,018,000	–	29,368	–	0.08%	–
ETSY	New	Etsy	$185,256,000	–	900	–	0.08%	–
NM	New	Navios Maritime Holdings	$169,170,000	–	18,529	–	0.08%	–
	New	McDermott International	$154,845,000	–	316,010	–	0.07%	–
BANC	New	Banc of California	$149,300,000	–	8,512	–	0.07%	–
FNB	New	F.N.B. Corporation	$121,524,000	–	9,856	–	0.06%	–
ARCO	New	Arcos Dorados Holdings	$112,373,000	–	18,823	–	0.05%	–
QQQ	New	PowerShares QQQ Trust	$87,190,000	–	246	–	0.04%	–
F	New	Ford	$83,465,000	–	5,617	–	0.04%	–
MO	New	Altria	$80,388,000	–	1,686	–	0.04%	–
CIIC	New	Arrival Corp	$77,316,000	–	4,934	–	0.04%	–
	New	American Airlinesconv bond	$78,461,000	–	50,000	–	0.04%	–
DVN	New	Devon Energy Corporation	$74,240,000	–	2,543	–	0.03%	–
NEM	New	Newmont Mining	$68,450,000	–	1,080	–	0.03%	–
	New	Chesapeake Energyconv bond	$68,471,000	–	2,883,000	–	0.03%	–
IRDM	New	Iridium Communications	$63,104,000	–	1,578	–	0.03%	–
	New	Financial Sector SPDR	$58,704,000	–	1,600	–	0.03%	–
BHLB	New	Berkshire Hills Bancorp	$56,931,000	–	2,077	–	0.03%	–
PAA	New	Plains All American Pipeline, L.P.	$57,141,000	–	5,030	–	0.03%	–
AZN	New	Astrazeneca	$53,910,000	–	900	–	0.02%	–
CHK	New	Chesapeake Energy Corporation	$52,024,000	–	1,002	–	0.02%	–
CHKEL	New	Chesapeake Energy Corporationwarrant	$42,638,000	–	2,043	–	0.02%	–
TK	New	Teekay Inc	$43,543,000	–	11,705	–	0.02%	–
BACPRL	New	Bank of Americaconv pref	$41,064,000	–	29	–	0.02%	–
PSTH	New	Pershing Square Tontine Holdings	$40,080,000	–	1,761	–	0.02%	–
VTRS	New	Viatris	$39,938,000	–	2,795	–	0.02%	–
ENBL	New	Enable Midstream Partners	$36,440,000	–	4,000	–	0.02%	–
SD	New	SandRidge Energy	$37,554,000	–	5,980	–	0.02%	–
	New	Palantir Technologies	$31,632,000	–	1,200	–	0.02%	–
SSSS	New	SuRo Capital	$30,299,000	–	2,246	–	0.01%	–
HA	New	Hawaiian Holdings	$29,999,000	–	1,231	–	0.01%	–
NGL	New	NGL Energy Partners	$28,774,000	–	12,090	–	0.01%	–
TSBK	New	Timberland Bancorp	$28,120,000	–	1,000	–	0.01%	–
AMJ	New	JP Morgan Alerian ETN	$23,560,000	–	1,199	–	0.01%	–
AGM	New	Federal Agricultural Mortgage	$24,725,000	–	250	–	0.01%	–
GM	New	General Motors	$23,668,000	–	400	–	0.01%	–
PAGP	New	Plains GP Holdings	$22,089,000	–	1,850	–	0.01%	–
TNK	New	Teekay Tankers	$18,184,000	–	1,261	–	0.01%	–
EOG	New	EOG Resources	$16,688,000	–	200	–	0.01%	–
UMPQ	New	Umpqua Holdings Corporation	$18,450,000	–	1,000	–	0.01%	–
FNMAS	New	Fannie Maepref stk	$12,780,000	–	6,000	–	0.01%	–
DHI	New	DR Horton	$13,556,000	–	150	–	0.01%	–
GOLD	New	Barrick Gold Corp	$10,733,000	–	519	–	0.01%	–
TOL	New	Toll Brothers	$11,562,000	–	200	–	0.01%	–
MTH	New	Meritage Homes Corporation	$9,408,000	–	100	–	0.00%	–
M	New	Macy's	$7,584,000	–	400	–	0.00%	–
EZPW	New	EZCORP	$6,030,000	–	1,000	–	0.00%	–
SWN	New	Southwestern Energy	$5,670,000	–	1,000	–	0.00%	–
INO	New	Inovio Pharmaceuticals	$4,635,000	–	500	–	0.00%	–
MCDBF	New	McDermottwarrant	$724,000	–	72,441	–	0.00%	–
MCDTF	New	McDermottwarrant	$652,000	–	65,197	–	0.00%	–
	New	Unit Corpwarrant	$96,000	–	9,635	–	0.00%	–

Q4 2020

			Value		Shares		↓ Weighting
SDRDW	Exit	Sandridge Energywarrant	$0	–	-4,028	–	0.00%	–
GNKWF	Exit	Genco Shippingwarrant	$0	–	-2,155	–	0.00%	–
	Exit	Altus Midstream Company	$0	–	-100	–	0.00%	–
GOLD	Exit	Barrick Gold Corp	$0	–	-166	–	-0.00%	–
AKS	Exit	AK Steel	$0	–	-1,500	–	-0.00%	–
SPWR	Exit	SunPower Corporation	$0	–	-236	–	-0.00%	–
UNTCQ	Exit	Unit Corp	$0	–	-98,465	–	-0.00%	–
NNA	Exit	Navios Maritime Acquisition	$0	–	-733	–	-0.00%	–
PYXSQ	Exit	Pyxus International	$0	–	-200	–	-0.00%	–
QEP	Exit	QEP Resources	$0	–	-1,500	–	-0.00%	–
CDNA	Exit	CareDx Inc	$0	–	-250	–	-0.00%	–
TREX	Exit	Trex	$0	–	-150	–	-0.00%	–
TOO	Exit	Teekay Offshore Partners	$0	–	-9,257	–	-0.00%	–
M	Exit	Macy's	$0	–	-800	–	-0.00%	–
UMPQ	Exit	Umpqua Holdings Corporation	$0	–	-1,000	–	-0.00%	–
PSMT	Exit	Pricesmart	$0	–	-100	–	-0.00%	–
UBER	Exit	Uber Technologies	$0	–	-280	–	-0.00%	–
CHK	Exit	Chesapeake Energy	$0	–	-5,233	–	-0.00%	–
AMJ	Exit	JP Morgan Chase Alerian ETN	$0	–	-1,010	–	-0.00%	–
SCHO	Exit	Schwab Short-Term U.S. Treasury ETF	$0	–	-300	–	-0.00%	–
MTH	Exit	Meritage Homes Corporation	$0	–	-200	–	-0.00%	–
	Exit	Chesapeake Energyconv pref	$0	–	-45	–	-0.00%	–
TOL	Exit	Toll Brothers	$0	–	-400	–	-0.00%	–
COFS	Exit	Choiceone Financial Services	$0	–	-634	–	-0.00%	–
SSSS	Exit	SuRo Capital	$0	–	-2,200	–	-0.01%	–
STX	Exit	Seagate Technology	$0	–	-400	–	-0.01%	–
ARCO	Exit	Arcos Dorados Holdings	$0	–	-6,200	–	-0.01%	–
TNK	Exit	Teekay Tankers Ltd	$0	–	-11,361	–	-0.01%	–
EOG	Exit	EOG Resources	$0	–	-450	–	-0.01%	–
	Exit	American Airlinesconv bond	$0	–	-30,000	–	-0.01%	–
PROV	Exit	Provident Financial Holdings	$0	–	-1,250	–	-0.01%	–
PYPL	Exit	Paypal Holdings	$0	–	-200	–	-0.01%	–
DHI	Exit	DR Horton	$0	–	-500	–	-0.01%	–
GM	Exit	General Motors	$0	–	-867	–	-0.01%	–
EZPW	Exit	EZCORP Inc	$0	–	-6,130	–	-0.01%	–
SEMG	Exit	SemGroup Corp	$0	–	-2,163	–	-0.01%	–
AGM	Exit	Federal Agricultural Mortgage	$0	–	-500	–	-0.01%	–
BX	Exit	Blackstone Group	$0	–	-750	–	-0.01%	–
F	Exit	Ford Motor	$0	–	-5,011	–	-0.01%	–
MO	Exit	Altria Group	$0	–	-1,186	–	-0.01%	–
BBBY	Exit	Bed Bath & Beyond	$0	–	-3,000	–	-0.01%	–
TSBK	Exit	Timberland Bancorp	$0	–	-2,000	–	-0.01%	–
HA	Exit	Hawaiian Holdings	$0	–	-2,512	–	-0.01%	–
UPS	Exit	United Parcel Service	$0	–	-362	–	-0.01%	–
AZN	Exit	Astrazeneca	$0	–	-1,400	–	-0.02%	–
TALOWS	Exit	Talos Energywarrant	$0	–	-137,444	–	-0.02%	–
WPX	Exit	WPX Energy	$0	–	-10,274	–	-0.02%	–
FNMAS	Exit	Fannie Maepref stk	$0	–	-8,000	–	-0.02%	–
	Exit	Financial Sector SPDR	$0	–	-3,200	–	-0.02%	–
BACPRL	Exit	Bank of Americaconv pref	$0	–	-58	–	-0.02%	–
	Exit	McDermott International	$0	–	-37,566	–	-0.02%	–
MDRIQ	Exit	McDermott International	$0	–	-44,908	–	-0.02%	–
BBT	Exit	BB&T Corporation	$0	–	-1,970	–	-0.02%	–
ACETQ	Exit	Aceto Corporation	$0	–	-1,317,260	–	-0.03%	–
SFBC	Exit	Sounds Financial Banc	$0	–	-4,155	–	-0.03%	–
TK	Exit	Teekay Inc	$0	–	-41,100	–	-0.03%	–
CUBI	Exit	Customers Bancorp	$0	–	-12,280	–	-0.03%	–
DB	Exit	Deutsche Bank	$0	–	-16,400	–	-0.03%	–
ZIONW	Exit	Zions Bancorpwarrant	$0	–	-11,368	–	-0.03%	–
NM	Exit	Navios Maritime Holdings	$0	–	-42,058	–	-0.03%	–
FB	Exit	Facebook, Inc.	$0	–	-550	–	-0.03%	–
IRDM	Exit	Iridium Communications	$0	–	-6,748	–	-0.04%	–
MA	Exit	Mastercard	$0	–	-510	–	-0.04%	–
BHLB	Exit	Berkshire Hills Bancorp	$0	–	-7,316	–	-0.04%	–
ABT	Exit	Abbott Laboratories	$0	–	-1,642	–	-0.04%	–
GNK	Exit	Genco Shipping	$0	–	-19,889	–	-0.04%	–
KKR	Exit	KKR & Co	$0	–	-6,825	–	-0.04%	–
PAYC	Exit	Paycom Software	$0	–	-600	–	-0.04%	–
BANF	Exit	BancFirst Corporation	$0	–	-4,805	–	-0.04%	–
CG	Exit	Carlyle Group	$0	–	-7,805	–	-0.05%	–
QQQ	Exit	PowerShares QQQ Trust	$0	–	-728	–	-0.05%	–
NMM	Exit	Navios Maritime Partners	$0	–	-17,456	–	-0.05%	–
PAA	Exit	Plains All American Pipeline	$0	–	-13,603	–	-0.05%	–
GE	Exit	General Electric Company	$0	–	-28,504	–	-0.05%	–
FNB	Exit	F.N.B. Corporation	$0	–	-22,940	–	-0.05%	–
TSLA	Exit	Tesla	$0	–	-520	–	-0.05%	–
RAIL	Exit	FreightCar America	$0	–	-48,730	–	-0.05%	–
APO	Exit	Apollo Global Management	$0	–	-6,655	–	-0.06%	–
SUP	Exit	Superior Industries	$0	–	-132,273	–	-0.06%	–
TFC	Exit	Truist Financial Corp	$0	–	-7,279	–	-0.06%	–
EEM	Exit	iShares MSCI Emerging Markets Index	$0	–	-7,615	–	-0.07%	–
FCCY	Exit	1st Constitution Bancorp	$0	–	-20,636	–	-0.07%	–
T	Exit	A T & T	$0	–	-9,433	–	-0.07%	–
PYYX	Exit	Pyxus Intternational	$0	–	-62,165	–	-0.07%	–
RS	Exit	Reliance Steel & Aluminum	$0	–	-3,324	–	-0.08%	–
INGR	Exit	Ingredion	$0	–	-4,470	–	-0.08%	–
CMI	Exit	Cummins	$0	–	-1,629	–	-0.08%	–
NTRS	Exit	Northern Trust Corp	$0	–	-4,450	–	-0.08%	–
SNA	Exit	Snap-On Inc	$0	–	-2,395	–	-0.08%	–
TROW	Exit	T. Rowe Price	$0	–	-2,723	–	-0.08%	–
ALL	Exit	Allstate Corporation	$0	–	-3,705	–	-0.08%	–
PNC	Exit	PNC Financial Services	$0	–	-3,284	–	-0.08%	–
BOKF	Exit	BOK Financial	$0	–	-6,317	–	-0.09%	–
AMZN	Exit	Amazon.com	$0	–	-125	–	-0.09%	–
OCFC	Exit	OceanFirst Financial	$0	–	-29,740	–	-0.09%	–
HWC	Exit	Hancock Whitney Corporation	$0	–	-14,027	–	-0.09%	–
TIP	Exit	iShares Barclays TIPS Bond	$0	–	-3,421	–	-0.10%	–
SD	Exit	SandRidge Energy	$0	–	-99,985	–	-0.10%	–
	Exit	Contura Energywarrant	$0	–	-115,364	–	-0.10%	–
GRPN	Exit	Groupon	$0	–	-23,241	–	-0.11%	–
UNP	Exit	Union Pacific Corporation	$0	–	-2,413	–	-0.11%	–
FITB	Exit	Fifth Third Bancorp	$0	–	-19,810	–	-0.11%	–
	Exit	EZCorp Incconv bond	$0	–	-550,000	–	-0.11%	–
MESA	Exit	Mesa Air Group	$0	–	-173,040	–	-0.12%	–
SLYV	Exit	SPDR S&P 600 Small Cap Value ETF	$0	–	-9,782	–	-0.12%	–
PPBI	Exit	Pacific Premier Bancorp	$0	–	-29,256	–	-0.13%	–
PACW	Exit	Pacwest Bancorp	$0	–	-24,353	–	-0.14%	–
IYF	Exit	iShares DJ US Financial Sector	$0	–	-4,774	–	-0.14%	–
AAL	Exit	American Airlines Group	$0	–	-31,663	–	-0.14%	–
UNIT	Exit	Uniti Group	$0	–	-69,610	–	-0.14%	–
FUSB	Exit	First US Bancshares	$0	–	-82,135	–	-0.15%	–
THFF	Exit	The First Financial Corp	$0	–	-17,743	–	-0.15%	–
YELP	Exit	Yelp	$0	–	-33,787	–	-0.16%	–
STI	Exit	SunTrust Banks	$0	–	-9,898	–	-0.16%	–
ASRV	Exit	AmeriServ Financial	$0	–	-174,332	–	-0.16%	–
MOFG	Exit	MidWest One Financial Group	$0	–	-30,103	–	-0.17%	–
STL	Exit	Sterling Bancorp	$0	–	-47,522	–	-0.17%	–
CVCY	Exit	Central Valley Community Bancorp	$0	–	-44,423	–	-0.17%	–
CFG	Exit	Citizens Financial Group	$0	–	-26,878	–	-0.19%	–
BHF	Exit	Brighthouse Financial	$0	–	-31,510	–	-0.19%	–
OPB	Exit	Opus Bank	$0	–	-39,105	–	-0.19%	–
LOCO	Exit	El Pollo Loco Holdings	$0	–	-83,335	–	-0.21%	–
MFSF	Exit	MutualFirst Financial	$0	–	-29,631	–	-0.21%	–
ZION	Exit	Zions Bancorp	$0	–	-25,492	–	-0.22%	–
LZB	Exit	La-Z-Boy	$0	–	-30,670	–	-0.22%	–
GRPN	Exit	Groupon	$0	–	-375,000	–	-0.23%	–
HVT	Exit	Haverty Furniture Company	$0	–	-49,455	–	-0.23%	–
WLKP	Exit	Westlake Chemical Partners	$0	–	-48,372	–	-0.23%	–
	Exit	Homestreet	$0	–	-38,001	–	-0.23%	–
	Exit	Global Eagle Entertainmentconv bond	$0	–	-3,705,000	–	-0.23%	–
FFG	Exit	FBL Financial Group	$0	–	-22,694	–	-0.25%	–
HWBK	Exit	Hawthorn Bancshares	$0	–	-52,062	–	-0.26%	–
PFE	Exit	Pfizer	$0	–	-31,426	–	-0.26%	–
TRCB	Exit	Two River Bancorp	$0	–	-56,045	–	-0.26%	–
LCI	Exit	Lannett Company	$0	–	-155,130	–	-0.28%	–
CTRA	Exit	Contura Energy Inc.	$0	–	-88,490	–	-0.28%	–
CVLY	Exit	Codorus Bancorp Inc.	$0	–	-77,841	–	-0.33%	–
UIS	Exit	Unisys Corp	$0	–	-162,905	–	-0.33%	–
TALO	Exit	Talos Energy	$0	–	-136,847	–	-0.34%	–
WBA	Exit	Walgreens Boots Alliance	$0	–	-32,079	–	-0.35%	–
CSCO	Exit	Cisco Systems	$0	–	-33,618	–	-0.35%	–
EBMT	Exit	Eagle Bancorp Montana	$0	–	-87,696	–	-0.35%	–
KMI	Exit	Kinder Morgan	$0	–	-93,525	–	-0.35%	–
CLF	Exit	Cleveland-Cliffs	$0	–	-228,925	–	-0.36%	–
PFBX	Exit	Peoples Financial Corp	$0	–	-150,925	–	-0.36%	–
PKBK	Exit	Parke Bancorp	$0	–	-92,535	–	-0.37%	–
	Exit	Teekay Corpconv bond	$0	–	-2,000,000	–	-0.37%	–
DOW	Exit	Dow Inc	$0	–	-34,182	–	-0.37%	–
AYR	Exit	Aircastle LTD	$0	–	-74,852	–	-0.38%	–
XOM	Exit	Exxon Mobil	$0	–	-25,469	–	-0.38%	–
HMNF	Exit	HMN Financial	$0	–	-92,820	–	-0.38%	–
MVBF	Exit	MVB Financial Corp	$0	–	-93,827	–	-0.39%	–
PAGP	Exit	Plains GP Holdings	$0	–	-123,381	–	-0.39%	–
KO	Exit	The Coca-Cola Company	$0	–	-32,833	–	-0.39%	–
ARCB	Exit	Arcbest Corp	$0	–	-56,780	–	-0.40%	–
AM	Exit	Antero Midstream	$0	–	-325,896	–	-0.40%	–
PEBK	Exit	Peoples Bancorp of NC	$0	–	-75,928	–	-0.40%	–
UBOH	Exit	United Bancshares	$0	–	-85,274	–	-0.40%	–
SONA	Exit	Southern National Bancorp of Virginia	$0	–	-143,726	–	-0.40%	–
ETRN	Exit	Equitrans Midstream	$0	–	-192,418	–	-0.41%	–
FCCO	Exit	First Community Corp	$0	–	-107,890	–	-0.42%	–
	Exit	Sunpower Corpconv bond	$0	–	-2,000,000	–	-0.42%	–
INTC	Exit	Intel Corporation	$0	–	-36,996	–	-0.44%	–
ESSA	Exit	Essa Bancorp	$0	–	-131,847	–	-0.44%	–
CZWI	Exit	Citizens Community Bancorp	$0	–	-212,179	–	-0.44%	–
HON	Exit	Honeywell International	$0	–	-11,917	–	-0.45%	–
BPMP	Exit	BP Midstream Partners	$0	–	-159,955	–	-0.45%	–
KE	Exit	Kimball Electronics	$0	–	-153,130	–	-0.46%	–
ONB	Exit	Old National Bancorp	$0	–	-133,832	–	-0.46%	–
	Exit	Chesapeake Energy Corpconv bond	$0	–	-6,290,000	–	-0.47%	–
BAC	Exit	Bank of America	$0	–	-76,591	–	-0.47%	–
CIVB	Exit	Civista Bancshares	$0	–	-119,525	–	-0.48%	–
AGX	Exit	Argan Inc	$0	–	-51,523	–	-0.48%	–
ALSK	Exit	Alaska Communications	$0	–	-1,138,030	–	-0.48%	–
PFBI	Exit	Premier Financial Bancorp Inc.	$0	–	-149,184	–	-0.48%	–
VZ	Exit	Verizon Communications Inc.	$0	–	-35,496	–	-0.49%	–
	Exit	PDL Biopharmaconv bond	$0	–	-2,000,000	–	-0.49%	–
LGIH	Exit	LGI Homes	$0	–	-23,007	–	-0.49%	–
EQM	Exit	EQT Midstream Partners	$0	–	-66,654	–	-0.50%	–
FUNC	Exit	First United Corp	$0	–	-131,161	–	-0.52%	–
C	Exit	Citigroup	$0	–	-40,199	–	-0.52%	–
HESM	Exit	Hess Midstream Partners	$0	–	-140,473	–	-0.55%	–
SHLX	Exit	Shell Midstream Partners	$0	–	-169,058	–	-0.57%	–
AM	Exit	Antero Midstream	$0	–	-342,556	–	-0.58%	–
UTX	Exit	United Technologies	$0	–	-18,695	–	-0.58%	–
FBMS	Exit	First Bancshares	$0	–	-97,327	–	-0.60%	–
HEAR	Exit	Turtle Beach Corp	$0	–	-176,839	–	-0.60%	–
	Exit	EZCorp Incconv bond	$0	–	-3,347,000	–	-0.60%	–
	Exit	Sunpower Corpconv bond	$0	–	-2,920,000	–	-0.63%	–
WTFC	Exit	Wintrust Financial	$0	–	-53,091	–	-0.64%	–
WGP	Exit	Western Midstream Partners	$0	–	-164,140	–	-0.64%	–
CRM	Exit	salesforce.com	$0	–	-11,227	–	-0.64%	–
FMCKI	Exit	Freddie Macpref stk	$0	–	-294,210	–	-0.64%	–
MRK	Exit	Merck	$0	–	-34,097	–	-0.65%	–
MDC	Exit	MDC Holdings	$0	–	-67,965	–	-0.70%	–
	Exit	GNC Holdingsconv bond	$0	–	-6,430,000	–	-0.70%	–
ENLC	Exit	EnLink Midstream	$0	–	-572,842	–	-0.73%	–
	Exit	Macquarie Infrastructureconv bond	$0	–	-3,535,000	–	-0.74%	–
	Exit	Synaptics Incconv bond	$0	–	-2,985,000	–	-0.74%	–
ET	Exit	Energy Transfer	$0	–	-364,347	–	-0.74%	–
NKE	Exit	Nike	$0	–	-30,513	–	-0.74%	–
GEL	Exit	Genesis Energy	$0	–	-340,526	–	-0.74%	–
DKL	Exit	Delek Logistics Partners	$0	–	-108,203	–	-0.74%	–
	Exit	Horizon Global Corpconv bond	$0	–	-4,390,000	–	-0.76%	–
AXP	Exit	American Express Company	$0	–	-30,595	–	-0.78%	–
NMIH	Exit	NMI Holdings	$0	–	-154,644	–	-0.78%	–
	Exit	Greenbriar Coconv bond	$0	–	-3,750,000	–	-0.80%	–
PSXP	Exit	Phillips 66 Partners	$0	–	-87,864	–	-0.82%	–
BGEPF	Exit	Bunge Ltdconv pref	$0	–	-35,932	–	-0.82%	–
TGP	Exit	Teekay LNG Partners	$0	–	-298,375	–	-0.83%	–
	Exit	Atlas Air Worldwide Holdingsconv bond	$0	–	-3,660,000	–	-0.83%	–
TRGP	Exit	Targa Resources Corp	$0	–	-136,860	–	-0.87%	–
ARLP	Exit	Alliance Resource Partners	$0	–	-374,838	–	-0.88%	–
CVX	Exit	Chevron Corporation	$0	–	-38,970	–	-0.89%	–
	Exit	Aceto Corpconv bond	$0	–	-4,125,274	–	-0.90%	–
	Exit	Tutor Perini Corpconv bond	$0	–	-4,103,000	–	-0.91%	–
SMMF	Exit	Summit Financial Group	$0	–	-195,667	–	-0.92%	–
	Exit	Encore Capital Groupconv bond	$0	–	-4,125,000	–	-0.92%	–
JPM	Exit	JPMorgan Chase	$0	–	-36,913	–	-0.92%	–
WMT	Exit	Wal-Mart Stores	$0	–	-31,866	–	-0.92%	–
DIS	Exit	Walt Disney	$0	–	-32,130	–	-0.94%	–
TRV	Exit	Travelers Companies	$0	–	-31,131	–	-0.94%	–
	Exit	PDL Biopharmaconv bond	$0	–	-4,100,000	–	-0.95%	–
CAT	Exit	Caterpillar Inc	$0	–	-31,018	–	-0.96%	–
AMGN	Exit	Amgen	$0	–	-16,777	–	-0.97%	–
NGL	Exit	NGL Energy Partners	$0	–	-320,648	–	-0.99%	–
IBM	Exit	IBM	$0	–	-32,317	–	-1.00%	–
PG	Exit	Procter & Gamble	$0	–	-34,018	–	-1.01%	–
BANC	Exit	Banc of California	$0	–	-378,437	–	-1.05%	–
JNJ	Exit	Johnson & Johnson	$0	–	-35,369	–	-1.11%	–
EPD	Exit	Enterprise Products Partners	$0	–	-221,019	–	-1.12%	–
SHYG	Exit	iShares 0-5 Yr High Yield Corporate Bond	$0	–	-109,225	–	-1.13%	–
MMM	Exit	3M Co	$0	–	-30,953	–	-1.15%	–
SBFG	Exit	SB Financial Group	$0	–	-332,024	–	-1.15%	–
EFA	Exit	iShares MSCI EAFE Index Fund	$0	–	-80,229	–	-1.19%	–
CWGRP	Exit	Cowenconv pref	$0	–	-6,365	–	-1.21%	–
V	Exit	Visa	$0	–	-30,668	–	-1.28%	–
MPLX	Exit	MPLX	$0	–	-251,570	–	-1.29%	–
MSFT	Exit	Microsoft Corporation	$0	–	-34,696	–	-1.32%	–
QCRH	Exit	QCR Holdings	$0	–	-193,581	–	-1.45%	–
GS	Exit	The Goldman Sachs Group	$0	–	-31,272	–	-1.46%	–
WMB	Exit	Williams Companies	$0	–	-310,572	–	-1.56%	–
MMP	Exit	Magellan Midstream Partners LP	$0	–	-134,067	–	-1.57%	–
MCD	Exit	McDonald's Corp	$0	–	-32,628	–	-1.61%	–
AAPL	Exit	Apple	$0	–	-44,035	–	-1.67%	–
OKE	Exit	ONEOK	$0	–	-151,005	–	-1.72%	–
UNH	Exit	UnitedHealth Group	$0	–	-31,347	–	-1.82%	–
HD	Exit	The Home Depot	$0	–	-32,108	–	-1.83%	–
BA	Exit	The Boeing Company	$0	–	-32,599	–	-2.19%	–
DIA	Exit	SPDR Dow Jones Industrial Average	$0	–	-73,607	–	-4.59%	–

Q3 2020

			Value		Shares		↓ Weighting
DIA	Buy	SPDR Dow Jones Industrial Average	$20,103,028,000	+114.2%	73,607	+102.3%	4.59%	+2.4%
BA	Buy	The Boeing Company	$9,604,351,000	+146.9%	32,599	+53.6%	2.19%	+18.0%
HD	Buy	The Home Depot	$8,025,758,000	+53.8%	32,108	+54.1%	1.83%	-26.5%
UNH	Buy	UnitedHealth Group	$7,967,926,000	+32.0%	31,347	+53.2%	1.82%	-36.9%
OKE	Buy	ONEOK	$7,519,608,000	+191.8%	151,005	+94.7%	1.72%	+39.5%
AAPL	Buy	Apple	$7,335,138,000	-9.5%	44,035	+98.2%	1.67%	-56.7%
MCD	Buy	McDonald's Corp	$7,066,899,000	+81.7%	32,628	+54.7%	1.61%	-13.1%
MMP	Buy	Magellan Midstream Partners LP	$6,886,306,000	+148.7%	134,067	+109.0%	1.57%	+18.8%
WMB	Buy	Williams Companies	$6,832,736,000	+139.3%	310,572	+106.9%	1.56%	+14.4%
GS	Buy	The Goldman Sachs Group	$6,404,112,000	+58.6%	31,272	+53.1%	1.46%	-24.2%
QCRH	Buy	QCR Holdings	$6,364,278,000	+114.7%	193,581	+103.6%	1.45%	+2.6%
MSFT	Buy	Microsoft Corporation	$5,786,192,000	+31.0%	34,696	+59.9%	1.32%	-37.4%
MPLX	Buy	MPLX	$5,634,511,000	+169.3%	251,570	+107.8%	1.29%	+28.9%
V	Buy	Visa	$5,608,989,000	+44.2%	30,668	+52.3%	1.28%	-31.1%
CWGRP	Buy	Cowenconv pref	$5,322,102,000	+105.8%	6,365	+98.3%	1.21%	-1.6%
EFA	Sell	iShares MSCI EAFE Index Fund	$5,231,733,000	-6.3%	80,229	-12.5%	1.19%	-55.2%
SBFG	Buy	SB Financial Group	$5,043,339,000	+81.8%	332,024	+99.0%	1.15%	-13.1%
MMM	Buy	3M Co	$5,037,493,000	+58.9%	30,953	+52.3%	1.15%	-24.1%
SHYG	Buy	iShares 0-5 Yr High Yield Corporate Bond	$4,965,310,000	+19.9%	109,225	+13.1%	1.13%	-42.7%
EPD	Buy	Enterprise Products Partners	$4,910,987,000	+135.0%	221,019	+92.1%	1.12%	+12.2%
JNJ	Buy	Johnson & Johnson	$4,856,101,000	+53.1%	35,369	+56.8%	1.11%	-26.8%
BANC	Buy	Banc of California	$4,604,238,000	+128.5%	378,437	+103.4%	1.05%	+9.3%
PG	Buy	Procter & Gamble	$4,428,569,000	+70.2%	34,018	+56.3%	1.01%	-18.7%
IBM	Buy	IBM	$4,389,316,000	+72.1%	32,317	+53.0%	1.00%	-17.7%
NGL	Buy	NGL Energy Partners	$4,339,914,000	+9104.3%	320,648	+2552.2%	0.99%	+4204.3%
AMGN	New	Amgen	$4,264,042,000	–	16,777	–	0.97%	–
CAT	Buy	Caterpillar Inc	$4,198,404,000	+60.8%	31,018	+50.3%	0.96%	-23.1%
	Buy	PDL Biopharmaconv bond	$4,161,506,000	+94.8%	4,100,000	+106.5%	0.95%	-6.9%
TRV	Buy	Travelers Companies	$4,133,351,000	+78.7%	31,131	+53.5%	0.94%	-14.6%
DIS	Buy	Walt Disney	$4,107,454,000	+75.9%	32,130	+53.4%	0.94%	-15.9%
WMT	Buy	Wal-Mart Stores	$4,046,191,000	+62.1%	31,866	+52.9%	0.92%	-22.6%
JPM	Buy	JPMorgan Chase	$4,040,834,000	+92.6%	36,913	+65.5%	0.92%	-7.9%
	Buy	Encore Capital Groupconv bond	$4,037,931,000	+98.5%	4,125,000	+98.8%	0.92%	-5.1%
SMMF	Buy	Summit Financial Group	$4,011,992,000	+147.9%	195,667	+99.2%	0.92%	+18.5%
	Buy	Tutor Perini Corpconv bond	$3,984,594,000	+106.6%	4,103,000	+102.7%	0.91%	-1.2%
	Buy	Aceto Corpconv bond	$3,965,069,000	+1614.6%	4,125,274	+1612.6%	0.90%	+722.7%
CVX	Buy	Chevron Corporation	$3,888,247,000	+81.2%	38,970	+62.0%	0.89%	-13.4%
ARLP	Buy	Alliance Resource Partners	$3,840,826,000	+599.2%	374,838	+122.4%	0.88%	+234.4%
TRGP	Buy	Targa Resources Corp	$3,814,238,000	+196.1%	136,860	+113.2%	0.87%	+41.5%
	Buy	Atlas Air Worldwide Holdingsconv bond	$3,628,284,000	+104.0%	3,660,000	+92.6%	0.83%	-2.5%
TGP	Buy	Teekay LNG Partners	$3,624,319,000	+114.8%	298,375	+106.2%	0.83%	+2.7%
BGEPF	Buy	Bunge Ltdconv pref	$3,594,481,000	+125.0%	35,932	+106.9%	0.82%	+7.6%
PSXP	Buy	Phillips 66 Partners	$3,590,024,000	+128.9%	87,864	+101.9%	0.82%	+9.5%
	Buy	Greenbriar Coconv bond	$3,495,252,000	+107.3%	3,750,000	+84.3%	0.80%	-1.0%
NMIH	Buy	NMI Holdings	$3,411,257,000	+186.8%	154,644	+109.1%	0.78%	+37.0%
AXP	Buy	American Express Company	$3,404,959,000	+78.0%	30,595	+52.3%	0.78%	-14.9%
	Buy	Horizon Global Corpconv bond	$3,336,017,000	+118.0%	4,390,000	+101.8%	0.76%	+4.2%
DKL	Buy	Delek Logistics Partners	$3,242,720,000	+170.2%	108,203	+106.8%	0.74%	+29.1%
GEL	Buy	Genesis Energy	$3,240,398,000	+78.9%	340,526	+35.8%	0.74%	-14.5%
NKE	Buy	Nike	$3,239,466,000	+64.8%	30,513	+52.2%	0.74%	-21.2%
ET	Buy	Energy Transfer	$3,234,546,000	+118.3%	364,347	+75.1%	0.74%	+4.4%
	Buy	Synaptics Incconv bond	$3,231,792,000	+105.9%	2,985,000	+102.4%	0.74%	-1.6%
	Buy	Macquarie Infrastructureconv bond	$3,219,743,000	+87.8%	3,535,000	+79.9%	0.74%	-10.1%
ENLC	Buy	EnLink Midstream	$3,212,127,000	+1540.2%	572,842	+102.9%	0.73%	+688.2%
	Buy	GNC Holdingsconv bond	$3,091,798,000	+8122.9%	6,430,000	+100.9%	0.70%	+3816.7%
MDC	Buy	MDC Holdings	$3,057,179,000	+152.4%	67,965	+100.3%	0.70%	+20.8%
MRK	Buy	Merck	$2,853,408,000	+66.9%	34,097	+54.2%	0.65%	-20.2%
FMCKI	Buy	Freddie Macpref stk	$2,825,540,000	+186.9%	294,210	+98.6%	0.64%	+37.2%
CRM	New	salesforce.com	$2,821,570,000	–	11,227	–	0.64%	–
WTFC	Buy	Wintrust Financial	$2,808,316,000	+151.8%	53,091	+107.7%	0.64%	+20.5%
WGP	Buy	Western Midstream Partners	$2,811,094,000	+253.9%	164,140	+107.4%	0.64%	+69.1%
	Buy	Sunpower Corpconv bond	$2,772,588,000	+107.9%	2,920,000	+100.0%	0.63%	-0.5%
FBMS	Buy	First Bancshares	$2,629,835,000	+141.3%	97,327	+100.9%	0.60%	+15.4%
	Buy	EZCorp Incconv bond	$2,628,049,000	+107.3%	3,347,000	+104.6%	0.60%	-0.8%
HEAR	Buy	Turtle Beach Corp	$2,628,634,000	+99.0%	176,839	+97.0%	0.60%	-4.8%
UTX	New	United Technologies	$2,552,241,000	–	18,695	–	0.58%	–
AM	New	Antero Midstream	$2,534,912,000	–	342,556	–	0.58%	–
SHLX	Buy	Shell Midstream Partners	$2,493,919,000	+119.5%	169,058	+82.6%	0.57%	+5.0%
HESM	Buy	Hess Midstream Partners	$2,428,187,000	+91.3%	140,473	+102.7%	0.55%	-8.6%
FUNC	Buy	First United Corp	$2,275,705,000	+151.9%	131,161	+93.7%	0.52%	+20.4%
C	Buy	Citigroup	$2,275,934,000	+115.0%	40,199	+94.0%	0.52%	+2.8%
EQM	New	EQT Midstream Partners	$2,179,586,000	–	66,654	–	0.50%	–
LGIH	Buy	LGI Homes	$2,148,569,000	+66.5%	23,007	+57.0%	0.49%	-20.5%
VZ	Buy	Verizon Communications Inc.	$2,130,007,000	+71.4%	35,496	+57.5%	0.49%	-18.0%
	Buy	PDL Biopharmaconv bond	$2,129,425,000	+83.8%	2,000,000	+100.0%	0.49%	-12.1%
PFBI	Buy	Premier Financial Bancorp Inc.	$2,112,710,000	+119.0%	149,184	+98.2%	0.48%	+4.8%
ALSK	Buy	Alaska Communications	$2,108,269,000	+35.9%	1,138,030	+104.7%	0.48%	-35.0%
AGX	Buy	Argan Inc	$2,087,921,000	+73.0%	51,523	+102.3%	0.48%	-17.4%
CIVB	Buy	Civista Bancshares	$2,082,854,000	+122.9%	119,525	+97.0%	0.48%	+6.5%
BAC	Buy	Bank of America	$2,052,559,000	+117.1%	76,591	+92.4%	0.47%	+3.8%
	Buy	Chesapeake Energy Corpconv bond	$2,041,175,000	+2077.3%	6,290,000	+101.3%	0.47%	+935.6%
ONB	Buy	Old National Bancorp	$2,015,003,000	+122.4%	133,832	+103.2%	0.46%	+6.5%
KE	Buy	Kimball Electronics	$2,000,179,000	+97.9%	153,130	+105.1%	0.46%	-5.4%
BPMP	Buy	BP Midstream Partners	$1,978,950,000	+110.2%	159,955	+94.9%	0.45%	+0.7%
HON	New	Honeywell International	$1,961,657,000	–	11,917	–	0.45%	–
CZWI	Buy	Citizens Community Bancorp	$1,933,867,000	+160.2%	212,179	+95.9%	0.44%	+24.2%
ESSA	Buy	Essa Bancorp	$1,917,581,000	+99.9%	131,847	+91.4%	0.44%	-4.4%
INTC	Buy	Intel Corporation	$1,910,179,000	+38.9%	36,996	+60.9%	0.44%	-33.5%
	Buy	Sunpower Corpconv bond	$1,853,150,000	+131.0%	2,000,000	+100.0%	0.42%	+10.4%
FCCO	Buy	First Community Corp	$1,817,884,000	+124.0%	107,890	+101.4%	0.42%	+7.2%
ETRN	Buy	Equitrans Midstream	$1,782,602,000	+24.6%	192,418	+11.8%	0.41%	-40.4%
UBOH	Buy	United Bancshares	$1,766,978,000	+134.2%	85,274	+103.5%	0.40%	+11.9%
SONA	Buy	Southern National Bancorp of Virginia	$1,766,860,000	+151.2%	143,726	+98.0%	0.40%	+19.9%
PEBK	Buy	Peoples Bancorp of NC	$1,757,606,000	+158.4%	75,928	+97.3%	0.40%	+23.4%
AM	Sell	Antero Midstream	$1,750,060,000	+3.8%	325,896	-1.4%	0.40%	-50.4%
ARCB	Buy	Arcbest Corp	$1,745,772,000	+124.6%	56,780	+93.6%	0.40%	+7.3%
KO	Buy	The Coca-Cola Company	$1,721,473,000	+80.7%	32,833	+54.0%	0.39%	-13.6%
PAGP	Buy	Plains GP Holdings	$1,715,674,000	+235.3%	123,381	+114.6%	0.39%	+60.2%
MVBF	Buy	MVB Financial Corp	$1,701,966,000	+160.0%	93,827	+90.6%	0.39%	+24.4%
HMNF	Buy	HMN Financial	$1,687,503,000	+154.9%	92,820	+104.7%	0.38%	+21.8%
AYR	New	Aircastle LTD	$1,678,930,000	–	74,852	–	0.38%	–
XOM	Buy	Exxon Mobil	$1,680,638,000	+59.2%	25,469	+7.9%	0.38%	-24.0%
DOW	Buy	Dow Inc	$1,620,290,000	+79.0%	34,182	+53.9%	0.37%	-14.4%
	Buy	Teekay Corpconv bond	$1,617,220,000	+97.2%	2,000,000	+100.0%	0.37%	-5.6%
PKBK	Buy	Parke Bancorp	$1,602,047,000	+130.7%	92,535	+80.6%	0.37%	+10.6%
PFBX	Buy	Peoples Financial Corp	$1,588,609,000	+115.6%	150,925	+94.6%	0.36%	+2.8%
CLF	Buy	Cleveland-Cliffs	$1,557,346,000	+162.1%	228,925	+112.7%	0.36%	+25.0%
KMI	Buy	Kinder Morgan	$1,546,388,000	+126.9%	93,525	+108.2%	0.35%	+8.6%
EBMT	Buy	Eagle Bancorp Montana	$1,539,374,000	+94.8%	87,696	+92.9%	0.35%	-6.9%
CSCO	Buy	Cisco Systems	$1,521,366,000	+47.7%	33,618	+52.2%	0.35%	-29.5%
WBA	Buy	Walgreens Boots Alliance	$1,514,773,000	+69.1%	32,079	+51.8%	0.35%	-19.2%
TALO	Buy	Talos Energy	$1,485,957,000	+214.5%	136,847	+166.5%	0.34%	+50.7%
UIS	Buy	Unisys Corp	$1,465,712,000	+65.5%	162,905	+100.7%	0.33%	-21.0%
CVLY	Buy	Codorus Bancorp Inc.	$1,435,144,000	+158.3%	77,841	+93.8%	0.33%	+23.4%
CTRA	Buy	Contura Energy Inc.	$1,232,643,000	+1202.0%	88,490	+184.2%	0.28%	+524.4%
LCI	Buy	Lannett Company	$1,217,630,000	+144.4%	155,130	+126.1%	0.28%	+16.8%
TRCB	New	Two River Bancorp	$1,161,809,000	–	56,045	–	0.26%	–
PFE	Buy	Pfizer	$1,133,360,000	+27.6%	31,426	+15.7%	0.26%	-38.9%
HWBK	Buy	Hawthorn Bancshares	$1,115,698,000	+122.2%	52,062	+104.1%	0.26%	+6.2%
FFG	New	FBL Financial Group	$1,093,851,000	–	22,694	–	0.25%	–
	Buy	Global Eagle Entertainmentconv bond	$1,015,779,000	+588.4%	3,705,000	+101.9%	0.23%	+231.4%
	Buy	Homestreet	$1,012,320,000	+102.1%	38,001	+86.7%	0.23%	-3.3%
WLKP	Buy	Westlake Chemical Partners	$1,011,758,000	+109.6%	48,372	+89.8%	0.23%	+0.4%
HVT	New	Haverty Furniture Company	$1,002,453,000	–	49,455	–	0.23%	–
GRPN	New	Groupon	$997,500,000	–	375,000	–	0.23%	–
LZB	Sell	La-Z-Boy	$970,092,000	+11.0%	30,670	-5.0%	0.22%	-47.0%
ZION	Buy	Zions Bancorp	$959,550,000	+120.6%	25,492	+99.2%	0.22%	+5.3%
MFSF	New	MutualFirst Financial	$933,964,000	–	29,631	–	0.21%	–
LOCO	New	El Pollo Loco Holdings	$913,352,000	–	83,335	–	0.21%	–
OPB	New	Opus Bank	$851,316,000	–	39,105	–	0.19%	–
BHF	New	Brighthouse Financial	$847,934,000	–	31,510	–	0.19%	–
CFG	Buy	Citizens Financial Group	$843,335,000	+132.2%	26,878	+86.8%	0.19%	+11.0%
CVCY	Buy	Central Valley Community Bancorp	$746,640,000	+97.8%	44,423	+81.1%	0.17%	-5.6%
STL	Buy	Sterling Bancorp	$737,391,000	+174.3%	47,522	+107.2%	0.17%	+31.2%
MOFG	Buy	MidWest One Financial Group	$726,982,000	+158.9%	30,103	+114.4%	0.17%	+23.9%
ASRV	Buy	AmeriServ Financial	$719,742,000	+134.7%	174,332	+75.2%	0.16%	+12.3%
YELP	Buy	Yelp	$678,781,000	+1.1%	33,787	+16.3%	0.16%	-51.7%
STI	New	SunTrust Banks	$680,949,000	–	9,898	–	0.16%	–
THFF	Buy	The First Financial Corp	$673,316,000	+122.1%	17,743	+115.6%	0.15%	+6.2%
FUSB	Buy	First US Bancshares	$650,780,000	+130.1%	82,135	+101.5%	0.15%	+9.6%
UNIT	Buy	Uniti Group	$636,793,000	+96.0%	69,610	+100.3%	0.14%	-6.5%
AAL	Buy	American Airlines Group	$616,664,000	+191.9%	31,663	+95.9%	0.14%	+39.6%
IYF	Buy	iShares DJ US Financial Sector	$614,557,000	+355.1%	4,774	+289.4%	0.14%	+118.8%
PACW	Buy	Pacwest Bancorp	$599,690,000	+70.8%	24,353	+36.7%	0.14%	-18.5%
PPBI	Sell	Pacific Premier Bancorp	$589,216,000	-19.4%	29,256	-13.2%	0.13%	-61.6%
SLYV	Buy	SPDR S&P 600 Small Cap Value ETF	$524,607,000	+50.7%	9,782	+38.0%	0.12%	-27.7%
MESA	Buy	Mesa Air Group	$510,468,000	+18.5%	173,040	+38.1%	0.12%	-43.7%
	Buy	EZCorp Incconv bond	$501,383,000	+104.2%	550,000	+103.7%	0.11%	-2.6%
FITB	Buy	Fifth Third Bancorp	$490,676,000	+135.3%	19,810	+83.2%	0.11%	+12.0%
GRPN	Buy	Groupon	$474,116,000	+44.3%	23,241	+28.2%	0.11%	-31.2%
UNP	New	Union Pacific Corporation	$475,047,000	–	2,413	–	0.11%	–
	Buy	Contura Energywarrant	$447,333,000	+3416.5%	115,364	+81.4%	0.10%	+1600.0%
SD	Buy	SandRidge Energy	$444,630,000	+281.3%	99,985	+10.6%	0.10%	+80.4%
TIP	Buy	iShares Barclays TIPS Bond	$415,296,000	+98.4%	3,421	+101.1%	0.10%	-5.0%
HWC	Buy	Hancock Whitney Corporation	$414,097,000	+182.6%	14,027	+102.9%	0.09%	+34.3%
OCFC	Sell	OceanFirst Financial	$407,141,000	-33.1%	29,740	-13.8%	0.09%	-67.9%
AMZN	New	Amazon.com	$393,591,000	–	125	–	0.09%	–
BOKF	Buy	BOK Financial	$387,034,000	+67.8%	6,317	+54.6%	0.09%	-20.0%
PNC	New	PNC Financial Services	$360,944,000	–	3,284	–	0.08%	–
TROW	New	T. Rowe Price	$349,143,000	–	2,723	–	0.08%	–
ALL	New	Allstate Corporation	$348,789,000	–	3,705	–	0.08%	–
SNA	New	Snap-On Inc	$352,376,000	–	2,395	–	0.08%	–
NTRS	New	Northern Trust Corp	$346,967,000	–	4,450	–	0.08%	–
CMI	New	Cummins	$343,980,000	–	1,629	–	0.08%	–
INGR	New	Ingredion	$338,290,000	–	4,470	–	0.08%	–
RS	New	Reliance Steel & Aluminum	$339,181,000	–	3,324	–	0.08%	–
PYYX	New	Pyxus Intternational	$326,366,000	–	62,165	–	0.07%	–
FCCY	Buy	1st Constitution Bancorp	$318,479,000	+157.0%	20,636	+106.5%	0.07%	+23.7%
T	Buy	A T & T	$321,332,000	+136.5%	9,433	+109.9%	0.07%	+12.3%
EEM	Buy	iShares MSCI Emerging Markets Index	$311,225,000	+68.6%	7,615	+65.0%	0.07%	-19.3%
TFC	Sell	Truist Financial Corp	$276,964,000	-15.1%	7,279	-16.2%	0.06%	-59.6%
SUP	Buy	Superior Industries	$273,635,000	+127.3%	132,273	+86.8%	0.06%	+8.8%
APO	Sell	Apollo Global Management	$256,092,000	-30.2%	6,655	-9.4%	0.06%	-66.9%
RAIL	New	FreightCar America	$236,341,000	–	48,730	–	0.05%	–
TSLA	New	Tesla	$223,085,000	–	520	–	0.05%	–
GE	Buy	General Electric Company	$217,118,000	+123.6%	28,504	+100.5%	0.05%	+8.7%
FNB	Buy	F.N.B. Corporation	$217,683,000	+149.7%	22,940	+97.3%	0.05%	+19.0%
NMM	Buy	Navios Maritime Partners	$207,291,000	+144.6%	17,456	+100.0%	0.05%	+17.5%
PAA	Buy	Plains All American Pipeline	$206,123,000	+198.0%	13,603	+73.8%	0.05%	+42.4%
CG	Sell	Carlyle Group	$199,496,000	-28.7%	7,805	-22.2%	0.05%	-65.7%
QQQ	Buy	PowerShares QQQ Trust	$202,268,000	+46.9%	728	+30.9%	0.05%	-30.3%
BANF	Sell	BancFirst Corporation	$196,236,000	-9.8%	4,805	-10.4%	0.04%	-56.7%
KKR	Sell	KKR & Co	$183,251,000	-33.2%	6,825	-23.2%	0.04%	-67.9%
GNK	Buy	Genco Shipping	$182,983,000	+95.8%	19,889	+33.7%	0.04%	-6.7%
ABT	New	Abbott Laboratories	$178,699,000	–	1,642	–	0.04%	–
BHLB	Buy	Berkshire Hills Bancorp	$174,448,000	+662.1%	7,316	+252.2%	0.04%	+263.6%
MA	New	Mastercard	$172,467,000	–	510	–	0.04%	–
IRDM	Buy	Iridium Communications	$158,106,000	+84.2%	6,748	+100.0%	0.04%	-12.2%
NM	Buy	Navios Maritime Holdings	$145,785,000	+272.9%	42,058	+127.0%	0.03%	+73.7%
FB	New	Facebook, Inc.	$144,045,000	–	550	–	0.03%	–
ZIONW	New	Zions Bancorpwarrant	$135,677,000	–	11,368	–	0.03%	–
CUBI	Sell	Customers Bancorp	$137,536,000	-34.2%	12,280	-29.4%	0.03%	-69.0%
TK	Buy	Teekay Inc	$130,708,000	+158.5%	41,100	+95.1%	0.03%	+25.0%
SFBC	New	Sounds Financial Banc	$123,113,000	–	4,155	–	0.03%	–
ACETQ	Buy	Aceto Corporation	$118,553,000	+125.0%	1,317,260	+100.0%	0.03%	+8.0%
BBT	New	BB&T Corporation	$105,139,000	–	1,970	–	0.02%	–
	New	McDermott International	$90,158,000	–	37,566	–	0.02%	–
MDRIQ	New	McDermott International	$90,714,000	–	44,908	–	0.02%	–
BACPRL	Buy	Bank of Americaconv pref	$86,629,000	+122.6%	58	+100.0%	0.02%	+5.3%
	Buy	Financial Sector SPDR	$83,312,000	+125.0%	3,200	+100.0%	0.02%	+5.6%
WPX	Buy	WPX Energy	$80,750,000	+156.8%	10,274	+108.4%	0.02%	+20.0%
FNMAS	Buy	Fannie Maepref stk	$79,980,000	+101.2%	8,000	+60.0%	0.02%	-5.3%
TALOWS	Buy	Talos Energywarrant	$76,927,000	+478.6%	137,444	+96.4%	0.02%	+200.0%
AZN	Buy	Astrazeneca	$71,605,000	+50.4%	1,400	+55.6%	0.02%	-30.4%
HA	Buy	Hawaiian Holdings	$49,507,000	+186.4%	2,512	+104.1%	0.01%	+37.5%
BBBY	Buy	Bed Bath & Beyond	$44,940,000	+324.0%	3,000	+200.0%	0.01%	+100.0%
TSBK	Buy	Timberland Bancorp	$45,500,000	+149.9%	2,000	+100.0%	0.01%	+11.1%
MO	New	Altria Group	$45,827,000	–	1,186	–	0.01%	–
F	Buy	Ford Motor	$39,609,000	+158.8%	5,011	+99.1%	0.01%	+28.6%
BX	Sell	Blackstone Group	$39,150,000	-90.1%	750	-89.2%	0.01%	-95.2%
SEMG	New	SemGroup Corp	$35,343,000	–	2,163	–	0.01%	–
EZPW	Buy	EZCORP Inc	$35,202,000	+82.3%	6,130	+100.0%	0.01%	-11.1%
AGM	Buy	Federal Agricultural Mortgage	$36,330,000	+127.0%	500	+100.0%	0.01%	0.0%
PYPL	Buy	Paypal Holdings	$30,062,000	+72.5%	200	+100.0%	0.01%	-12.5%
DHI	Buy	DR Horton	$32,086,000	+131.5%	500	+100.0%	0.01%	0.0%
GM	Buy	General Motors	$28,811,000	+184.7%	867	+116.8%	0.01%	+40.0%
ARCO	New	Arcos Dorados Holdings	$25,420,000	–	6,200	–	0.01%	–
EOG	Buy	EOG Resources	$25,743,000	+154.1%	450	+125.0%	0.01%	+20.0%
PROV	New	Provident Financial Holdings	$25,938,000	–	1,250	–	0.01%	–
TNK	New	Teekay Tankers Ltd	$26,799,000	–	11,361	–	0.01%	–
SSSS	New	SuRo Capital	$23,848,000	–	2,200	–	0.01%	–
STX	Buy	Seagate Technology	$20,612,000	+112.9%	400	+100.0%	0.01%	0.0%
	New	Chesapeake Energyconv pref	$17,190,000	–	45	–	0.00%	–
MTH	Buy	Meritage Homes Corporation	$18,074,000	+137.4%	200	+100.0%	0.00%	0.0%
COFS	New	Choiceone Financial Services	$18,994,000	–	634	–	0.00%	–
TOL	Buy	Toll Brothers	$17,942,000	+175.3%	400	+100.0%	0.00%	+33.3%
SCHO	New	Schwab Short-Term U.S. Treasury ETF	$15,177,000	–	300	–	0.00%	–
AMJ	Buy	JP Morgan Chase Alerian ETN	$13,573,000	+378.3%	1,010	+369.8%	0.00%	+200.0%
TOO	New	Teekay Offshore Partners	$10,738,000	–	9,257	–	0.00%	–
CDNA	New	CareDx Inc	$9,485,000	–	250	–	0.00%	–
UMPQ	New	Umpqua Holdings Corporation	$10,620,000	–	1,000	–	0.00%	–
CHK	New	Chesapeake Energy	$7,379,000	–	5,233	–	0.00%	–
TREX	New	Trex	$10,740,000	–	150	–	0.00%	–
M	Buy	Macy's	$8,496,000	+208.7%	800	+100.0%	0.00%	+100.0%
GOLD	New	Barrick Gold Corp	$4,666,000	–	166	–	0.00%	–
PYXSQ	New	Pyxus International	$2,616,000	–	200	–	0.00%	–
AKS	New	AK Steel	$3,405,000	–	1,500	–	0.00%	–
NMCI	Exit	Navios Maritime Containers	$0	–	-94	–	0.00%	–
	New	Altus Midstream Company	$1,111,000	–	100	–	0.00%	–
SWN	Exit	Southwestern Energy Company	$0	–	-1,000	–	-0.00%	–
SIEN	Exit	Sientra	$0	–	-800	–	-0.00%	–
UCBI	Exit	United Community Banks	$0	–	-220	–	-0.00%	–
HEP	Exit	Holly Energy Partners	$0	–	-534	–	-0.00%	–
ENBL	Exit	Enable Midstream Partners	$0	–	-4,000	–	-0.01%	–
	Exit	FedEx Corporation	$0	–	-155	–	-0.01%	–
	Exit	Horsehead Holdingswarrant	$0	–	-3,245	–	-0.02%	–
BAM	Exit	Brookfield Asset Management	$0	–	-3,889	–	-0.06%	–
EGY	Exit	Vaalco Energy	$0	–	-208,780	–	-0.12%	–
CARR	Exit	Carrier Global Corporation	$0	–	-19,353	–	-0.20%	–
OTIS	Exit	Otis Worldwide Corporation	$0	–	-9,705	–	-0.26%	–
RTX	Exit	Raytheon Technologies	$0	–	-20,103	–	-0.59%	–

Q2 2020

			Value		Shares		↓ Weighting
DIA	New	SPDR Dow Jones Industrial Average	$9,383,665,000	–	36,389	–	4.48%	–
AAPL	New	Apple	$8,105,768,000	–	22,220	–	3.87%	–
UNH	New	UnitedHealth Group	$6,035,857,000	–	20,464	–	2.88%	–
EFA	New	iShares MSCI EAFE Index Fund	$5,583,544,000	–	91,729	–	2.66%	–
HD	New	Home Depot	$5,219,877,000	–	20,837	–	2.49%	–
MSFT	New	Microsoft Corporation	$4,416,456,000	–	21,701	–	2.11%	–
SHYG	New	iShares 0-5 Yr High Yield Corporate Bond	$4,142,316,000	–	96,580	–	1.98%	–
GS	New	Goldman Sachs	$4,037,574,000	–	20,431	–	1.93%	–
BA	New	Boeing	$3,890,176,000	–	21,223	–	1.86%	–
V	New	Visa	$3,890,830,000	–	20,142	–	1.86%	–
MCD	New	McDonald's	$3,889,734,000	–	21,086	–	1.86%	–
JNJ	New	Johnson & Johnson	$3,172,050,000	–	22,556	–	1.51%	–
MMM	New	3M Co	$3,170,653,000	–	20,326	–	1.51%	–
QCRH	New	QCR Holdings	$2,964,690,000	–	95,083	–	1.42%	–
WMB	New	Williams Companies	$2,855,050,000	–	150,108	–	1.36%	–
SBFG	New	SB Financial Group	$2,773,637,000	–	166,885	–	1.32%	–
MMP	New	Magellan Midstream Partners	$2,769,183,000	–	64,146	–	1.32%	–
CAT	New	Caterpillar	$2,610,834,000	–	20,639	–	1.25%	–
PG	New	Procter & Gamble	$2,602,321,000	–	21,764	–	1.24%	–
CWGRP	New	Cowen Incconv pref	$2,585,451,000	–	3,210	–	1.23%	–
OKE	New	ONEOK	$2,576,916,000	–	77,571	–	1.23%	–
IBM	New	International Business Machines	$2,551,025,000	–	21,123	–	1.22%	–
WMT	New	Wal-Mart Stores	$2,496,814,000	–	20,845	–	1.19%	–
DIS	New	Walt Disney	$2,334,979,000	–	20,940	–	1.11%	–
TRV	New	Travelers Companies	$2,313,390,000	–	20,284	–	1.10%	–
CVX	New	Chevron Corporation	$2,146,249,000	–	24,053	–	1.02%	–
	New	PDL Biopharmaconv bond	$2,136,019,000	–	1,985,000	–	1.02%	–
JPM	New	JPMorgan Chase	$2,097,914,000	–	22,304	–	1.00%	–
MPLX	New	MPLX	$2,092,061,000	–	121,068	–	1.00%	–
EPD	New	Enterprise Products Partners	$2,090,095,000	–	115,030	–	1.00%	–
	New	Encore Capital Groupconv bond	$2,034,641,000	–	2,075,000	–	0.97%	–
BANC	New	Banc of California	$2,015,171,000	–	186,073	–	0.96%	–
NKE	New	Nike	$1,965,608,000	–	20,047	–	0.94%	–
	New	Tutor Periniconv bond	$1,928,243,000	–	2,024,000	–	0.92%	–
AXP	New	American Express Company	$1,912,378,000	–	20,088	–	0.91%	–
GEL	New	Genesis Energy	$1,811,000,000	–	250,831	–	0.86%	–
	New	Atlas Air Worldwide Holdingsconv bond	$1,778,628,000	–	1,900,000	–	0.85%	–
	New	Macquarie Infrastructureconv bond	$1,714,333,000	–	1,965,000	–	0.82%	–
MRK	New	Merck	$1,709,921,000	–	22,112	–	0.82%	–
AM	New	Antero Midstream	$1,685,956,000	–	330,580	–	0.80%	–
	New	Greenbriarconv bond	$1,685,731,000	–	2,035,000	–	0.80%	–
TGP	New	Teekay LNG Partners	$1,687,144,000	–	144,695	–	0.80%	–
SMMF	New	Summit Financial Group	$1,618,363,000	–	98,202	–	0.77%	–
BGEPF	New	Bunge Ltdconv pref	$1,597,314,000	–	17,364	–	0.76%	–
	New	Synaptics Inc.conv bond	$1,569,931,000	–	1,475,000	–	0.75%	–
PSXP	New	Phillips 66 Partners	$1,568,061,000	–	43,509	–	0.75%	–
ALSK	New	Alaska Communications System Group	$1,551,059,000	–	555,935	–	0.74%	–
	New	Horizon Globalconv bond	$1,530,058,000	–	2,175,000	–	0.73%	–
ET	New	Energy Transfer	$1,481,393,000	–	208,061	–	0.71%	–
ETRN	New	Equitrans Midstream	$1,430,844,000	–	172,183	–	0.68%	–
INTC	New	Intel Corporation	$1,375,372,000	–	22,988	–	0.66%	–
	New	Sunpower Corpconv bond	$1,333,440,000	–	1,460,000	–	0.64%	–
HEAR	New	Turtle Beach	$1,321,076,000	–	89,747	–	0.63%	–
LGIH	New	LGI Homes	$1,290,168,000	–	14,656	–	0.62%	–
TRGP	New	Targa Resources Corp	$1,288,359,000	–	64,193	–	0.62%	–
HESM	New	Hess Midstream Partners	$1,269,356,000	–	69,288	–	0.61%	–
	New	EZCorpconv bond	$1,267,591,000	–	1,636,000	–	0.60%	–
VZ	New	Verizon Communications	$1,242,630,000	–	22,540	–	0.59%	–
RTX	New	Raytheon Technologies	$1,238,747,000	–	20,103	–	0.59%	–
MDC	New	MDC Holdings	$1,211,230,000	–	33,928	–	0.58%	–
AGX	New	Argan Inc	$1,206,911,000	–	25,473	–	0.58%	–
DKL	New	Delek Logistics Partners	$1,199,996,000	–	52,333	–	0.57%	–
NMIH	New	NMI Holdings Inc	$1,189,325,000	–	73,963	–	0.57%	–
	New	PDL Biopharmaconv bond	$1,158,800,000	–	1,000,000	–	0.55%	–
SHLX	New	Shell Midstream Partners	$1,136,055,000	–	92,588	–	0.54%	–
WTFC	New	Wintrust Financial	$1,115,189,000	–	25,566	–	0.53%	–
FBMS	New	First Bancshares	$1,089,810,000	–	48,436	–	0.52%	–
C	New	Citigroup	$1,058,639,000	–	20,717	–	0.50%	–
XOM	New	Exxon Mobil Corporation	$1,055,392,000	–	23,600	–	0.50%	–
CSCO	New	Cisco Systems	$1,029,904,000	–	22,082	–	0.49%	–
KE	New	Kimball Electronics	$1,010,693,000	–	74,645	–	0.48%	–
FMCKI	New	Freddie Macpref stk	$984,898,000	–	148,105	–	0.47%	–
PFBI	New	Premier Financial Bancorp	$964,858,000	–	75,262	–	0.46%	–
ESSA	New	Essa Bancorp	$959,032,000	–	68,896	–	0.46%	–
KO	New	Coca-Cola	$952,801,000	–	21,325	–	0.46%	–
BAC	New	Bank of America	$945,321,000	–	39,803	–	0.45%	–
BPMP	New	BP Midstream Partners	$941,251,000	–	82,062	–	0.45%	–
CIVB	New	Civista Bancshares	$934,241,000	–	60,665	–	0.45%	–
ONB	New	Old National Bancorp	$906,154,000	–	65,854	–	0.43%	–
DOW	New	Dow Inc	$905,282,000	–	22,210	–	0.43%	–
FUNC	New	First United Corp	$903,385,000	–	67,720	–	0.43%	–
WBA	New	Walgreens Boots Alliance	$895,955,000	–	21,136	–	0.43%	–
PFE	New	Pfizer	$888,426,000	–	27,169	–	0.42%	–
UIS	New	Unisys Corp	$885,456,000	–	81,160	–	0.42%	–
LZB	New	La-Z-Boy	$873,903,000	–	32,295	–	0.42%	–
	New	Teekay Corpconv bond	$820,120,000	–	1,000,000	–	0.39%	–
FCCO	New	First Community Corp	$811,510,000	–	53,565	–	0.39%	–
	New	Sunpower Corpconv bond	$802,370,000	–	1,000,000	–	0.38%	–
WGP	New	Western Midstream Partners	$794,415,000	–	79,125	–	0.38%	–
EBMT	New	Eagle Bancorp Montana	$790,234,000	–	45,468	–	0.38%	–
ARCB	New	Arcbest Corp	$777,406,000	–	29,325	–	0.37%	–
UBOH	New	United Bancshares	$754,368,000	–	41,909	–	0.36%	–
CZWI	New	Citizens Community Bancorp	$743,082,000	–	108,321	–	0.36%	–
PFBX	New	Peoples Financial Corp.	$736,944,000	–	77,573	–	0.35%	–
PPBI	New	Pacific Premier Bancorp	$730,746,000	–	33,706	–	0.35%	–
SONA	New	Southern National Bancorp of Virginia	$703,250,000	–	72,575	–	0.34%	–
PKBK	New	Parke Bancorp	$694,394,000	–	51,247	–	0.33%	–
KMI	New	Kinder Morgan	$681,459,000	–	44,921	–	0.32%	–
PEBK	New	Peoples Bancorp	$680,171,000	–	38,493	–	0.32%	–
YELP	New	Yelp	$671,695,000	–	29,040	–	0.32%	–
HMNF	New	HMN Financial	$662,037,000	–	45,345	–	0.32%	–
MVBF	New	MVB Financial Corp	$654,573,000	–	49,216	–	0.31%	–
OCFC	New	OceanFirst Financial	$608,482,000	–	34,514	–	0.29%	–
CLF	New	Cleveland-Cliffs	$594,228,000	–	107,650	–	0.28%	–
CVLY	New	Codorus Bancorp	$555,582,000	–	40,172	–	0.26%	–
OTIS	New	Otis Worldwide Corporation	$551,826,000	–	9,705	–	0.26%	–
ARLP	New	Alliance Resource Partners	$549,326,000	–	168,505	–	0.26%	–
PAGP	New	Plains GP Holdings	$511,702,000	–	57,495	–	0.24%	–
HWBK	New	Hawthorn Bancshares	$502,174,000	–	25,504	–	0.24%	–
	New	Homestreet	$500,948,000	–	20,355	–	0.24%	–
LCI	New	Lannett Company	$498,196,000	–	68,622	–	0.24%	–
WLKP	New	Westlake Chemical Partners	$482,781,000	–	25,490	–	0.23%	–
TALO	New	Talos Energy	$472,484,000	–	51,357	–	0.22%	–
ZION	New	Zions Bancorp	$435,064,000	–	12,796	–	0.21%	–
MESA	New	Mesa Air Group Inc	$430,929,000	–	125,270	–	0.21%	–
CARR	New	Carrier Global Corporation	$430,024,000	–	19,353	–	0.20%	–
BX	New	Blackstone Group	$395,204,000	–	6,975	–	0.19%	–
CVCY	New	Central Valley Community Bancorp	$377,471,000	–	24,527	–	0.18%	–
APO	New	Apollo Global Management	$366,662,000	–	7,345	–	0.18%	–
CFG	New	Citizens Financial Group	$363,150,000	–	14,388	–	0.17%	–
PACW	New	Pacwest Bancorp	$351,193,000	–	17,818	–	0.17%	–
SLYV	New	SPDR S&P 600 Small Cap Value	$348,163,000	–	7,088	–	0.17%	–
GRPN	New	Groupon	$328,479,000	–	18,128	–	0.16%	–
TFC	New	Truist Financial	$326,244,000	–	8,688	–	0.16%	–
UNIT	New	Uniti Group Inc.	$324,959,000	–	34,755	–	0.16%	–
ASRV	New	AmeriServ Financial	$306,681,000	–	99,530	–	0.15%	–
THFF	New	The First Financial Corp	$303,164,000	–	8,229	–	0.14%	–
FUSB	New	First US Bancshares	$282,860,000	–	40,758	–	0.14%	–
MOFG	New	MidWest One Financial Group	$280,780,000	–	14,039	–	0.13%	–
CG	New	Carlyle Group	$279,977,000	–	10,035	–	0.13%	–
KKR	New	KKR & Co	$274,369,000	–	8,885	–	0.13%	–
STL	New	Sterling Bancorp	$268,822,000	–	22,937	–	0.13%	–
EGY	New	Vaalco Energy	$258,887,000	–	208,780	–	0.12%	–
	New	EZCorpconv bond	$245,484,000	–	270,000	–	0.12%	–
	New	Aceto Corpconv bond	$231,247,000	–	240,882	–	0.11%	–
BOKF	New	BOK Financial	$230,670,000	–	4,087	–	0.11%	–
BANF	New	BancFirst Corporation	$217,658,000	–	5,365	–	0.10%	–
AAL	New	American Airlines Group	$211,263,000	–	16,164	–	0.10%	–
CUBI	New	Customers Bancorp	$209,028,000	–	17,390	–	0.10%	–
FITB	New	Fifth Third Bancorp	$208,513,000	–	10,815	–	0.10%	–
TIP	New	iShares Barclays TIPS Bond	$209,274,000	–	1,701	–	0.10%	–
ENLC	New	EnLink Midstream	$195,842,000	–	282,361	–	0.09%	–
PAYC	New	Paycom Software	$185,838,000	–	600	–	0.09%	–
EEM	New	iShares MSCI Emerging Markets Index	$184,554,000	–	4,615	–	0.09%	–
DB	New	Deutsche Bank	$156,128,000	–	16,400	–	0.08%	–
HWC	New	Hancock Whitney Corporation	$146,556,000	–	6,913	–	0.07%	–
	New	Global Eagle Entertainmentconv bond	$147,554,000	–	1,835,000	–	0.07%	–
QQQ	New	PowerShares QQQ Trust	$137,666,000	–	556	–	0.07%	–
T	New	A T & T INC	$135,854,000	–	4,494	–	0.06%	–
IYF	New	iShares DJ US Financial Sector	$135,032,000	–	1,226	–	0.06%	–
BAM	New	Brookfield Asset Management	$127,948,000	–	3,889	–	0.06%	–
FCCY	New	1st Constitution Bancorp	$123,900,000	–	9,992	–	0.06%	–
SUP	New	Superior Industries	$120,392,000	–	70,819	–	0.06%	–
SD	New	SandRidge Energy	$116,622,000	–	90,405	–	0.06%	–
GE	New	General Electric Company	$97,097,000	–	14,216	–	0.05%	–
CTRA	New	Contura Energy	$94,672,000	–	31,142	–	0.04%	–
GNK	New	Genco Shipping & Trading	$93,431,000	–	14,877	–	0.04%	–
	New	Chesapeake Energyconv bond	$93,750,000	–	3,125,000	–	0.04%	–
FNB	New	F.N.B. Corporation	$87,195,000	–	11,626	–	0.04%	–
IRDM	New	Iridium Communications	$85,835,000	–	3,374	–	0.04%	–
NMM	New	Navios Maritime Partners	$84,749,000	–	8,728	–	0.04%	–
PAA	New	Plains All American Pipeline	$69,173,000	–	7,825	–	0.03%	–
ACETQ	New	Aceto Corporation	$52,690,000	–	658,630	–	0.02%	–
TK	New	Teekay	$50,556,000	–	21,065	–	0.02%	–
NGL	New	NGL Energy Partners	$47,151,000	–	12,090	–	0.02%	–
AZN	New	Astrazeneca PLC	$47,601,000	–	900	–	0.02%	–
UPS	New	United Parcel Service	$40,247,000	–	362	–	0.02%	–
BACPRL	New	Bank of Americaconv pref	$38,924,000	–	29	–	0.02%	–
FNMAS	New	Fannie Maepref stk	$39,750,000	–	5,000	–	0.02%	–
NM	New	Navios Maritime Holdings	$39,096,000	–	18,529	–	0.02%	–
	New	Financial Sector SPDR	$37,024,000	–	1,600	–	0.02%	–
	New	GNC Holdingsconv bond	$37,600,000	–	3,200,000	–	0.02%	–
WPX	New	WPX Energy	$31,445,000	–	4,929	–	0.02%	–
	New	Horsehead Holdingswarrant	$32,447,000	–	3,245	–	0.02%	–
	New	American Airlinesconv bond	$28,188,000	–	30,000	–	0.01%	–
BHLB	New	Berkshire Hills Bancorp	$22,889,000	–	2,077	–	0.01%	–
	New	FedEx Corporation	$21,734,000	–	155	–	0.01%	–
EZPW	New	EZCORP	$19,310,000	–	3,065	–	0.01%	–
TSBK	New	Timberland Bancorp	$18,210,000	–	1,000	–	0.01%	–
ENBL	New	Enable Midstream Partners	$18,720,000	–	4,000	–	0.01%	–
HA	New	Hawaiian Holdings	$17,283,000	–	1,231	–	0.01%	–
PYPL	New	Paypal Holdings	$17,423,000	–	100	–	0.01%	–
AGM	New	Federal Agricultural Mortgage	$16,003,000	–	250	–	0.01%	–
F	New	Ford Motor	$15,302,000	–	2,517	–	0.01%	–
DHI	New	DR Horton	$13,863,000	–	250	–	0.01%	–
TALOWS	New	Talos Energywarrant	$13,295,000	–	69,972	–	0.01%	–
	New	Contura Energywarrant	$12,721,000	–	63,607	–	0.01%	–
GM	New	General Motors	$10,120,000	–	400	–	0.01%	–
STX	New	Seagate Technology	$9,682,000	–	200	–	0.01%	–
BBBY	New	Bed Bath & Beyond	$10,600,000	–	1,000	–	0.01%	–
EOG	New	EOG Resources	$10,132,000	–	200	–	0.01%	–
UNTCQ	New	Unit Corp	$7,877,000	–	98,465	–	0.00%	–
UBER	New	Uber Technologies	$8,702,000	–	280	–	0.00%	–
HEP	New	Holly Energy Partners	$7,791,000	–	534	–	0.00%	–
MTH	New	Meritage Homes	$7,612,000	–	100	–	0.00%	–
TOL	New	Toll Brothers	$6,518,000	–	200	–	0.00%	–
PSMT	New	Pricesmart	$6,033,000	–	100	–	0.00%	–
UCBI	New	United Community Banks	$4,426,000	–	220	–	0.00%	–
QEP	New	QEP Resources	$1,935,000	–	1,500	–	0.00%	–
SWN	New	Southwestern Energy Company	$2,560,000	–	1,000	–	0.00%	–
NNA	New	Navios Maritime Acquisition	$2,983,000	–	733	–	0.00%	–
SIEN	New	Sientra	$3,096,000	–	800	–	0.00%	–
AMJ	New	JP Morgan Chase Alerian ETN	$2,838,000	–	215	–	0.00%	–
SPWR	New	SunPower Corporation	$1,808,000	–	236	–	0.00%	–
M	New	Macy's	$2,752,000	–	400	–	0.00%	–
NMCI	New	Navios Maritime Containers	$76,000	–	94	–	0.00%	–
SDRDW	New	Sandridge Energywarrant	$22,000	–	4,028	–	0.00%	–
GNKWF	New	Genco Shippingwarrant	$129,000	–	2,155	–	0.00%	–

Q4 2019

			Value		Shares		↓ Weighting
GNKWF	Exit	Genco Shippingwarrant	$0	–	-2,155	–	0.00%	–
SDRDW	Exit	Sandridge Energywarrant	$0	–	-4,028	–	0.00%	–
PYXSQ	Exit	Pyxus International	$0	–	-200	–	-0.00%	–
AKS	Exit	AK Steel	$0	–	-1,500	–	-0.00%	–
NNA	Exit	Navios Maritime Acquisition	$0	–	-733	–	-0.00%	–
M	Exit	Macy's	$0	–	-400	–	-0.00%	–
AMJ	Exit	JP Morgan Chase Alerian ETN	$0	–	-215	–	-0.00%	–
QEP	Exit	QEP Resources	$0	–	-1,500	–	-0.00%	–
TOL	Exit	Toll Brothers	$0	–	-200	–	-0.00%	–
PSMT	Exit	Pricesmart	$0	–	-100	–	-0.00%	–
CHK	Exit	Chesapeake Energy	$0	–	-5,233	–	-0.00%	–
MTH	Exit	Meritage Homes	$0	–	-100	–	-0.00%	–
TOO	Exit	Teekay Offshore Partners	$0	–	-9,257	–	-0.00%	–
PYPL	Exit	Paypal Holdings	$0	–	-100	–	-0.00%	–
STX	Exit	Seagate Technology	$0	–	-200	–	-0.00%	–
DHI	Exit	DR Horton	$0	–	-250	–	-0.01%	–
TNK	Exit	Teekay Tankers	$0	–	-10,100	–	-0.01%	–
GM	Exit	General Motors	$0	–	-400	–	-0.01%	–
	Exit	Chesapeake Energyconv pref	$0	–	-45	–	-0.01%	–
SCHO	Exit	Schwab Short-Term U.S. Treasury ETF	$0	–	-300	–	-0.01%	–
EZPW	Exit	EZCORP Inc	$0	–	-3,065	–	-0.01%	–
EOG	Exit	EOG Resources	$0	–	-250	–	-0.01%	–
COFS	Exit	Choiceone Financial Services	$0	–	-634	–	-0.01%	–
AGM	Exit	Federal Agricultural Mortgage	$0	–	-250	–	-0.01%	–
AZN	Exit	Astrazeneca	$0	–	-500	–	-0.01%	–
F	Exit	Ford Motor	$0	–	-2,494	–	-0.01%	–
FNMAS	Exit	Fannie Maepref stk	$0	–	-2,000	–	-0.01%	–
PROV	Exit	Provident Financial Holdings	$0	–	-1,250	–	-0.01%	–
TSBK	Exit	Timberland Bancorp	$0	–	-1,000	–	-0.01%	–
SEMG	Exit	SemGroup Corp	$0	–	-2,163	–	-0.01%	–
HA	Exit	Hawaiian Holdings	$0	–	-1,281	–	-0.01%	–
BACPRL	Exit	Bank of Americaconv pref	$0	–	-29	–	-0.02%	–
	Exit	Financial Sector SPDR	$0	–	-1,600	–	-0.02%	–
WPX	Exit	WPX Energy	$0	–	-5,345	–	-0.02%	–
TALOWS	Exit	Talos Energywarrant	$0	–	-67,472	–	-0.02%	–
ACETQ	Exit	Aceto Corporation	$0	–	-658,630	–	-0.02%	–
IRDM	Exit	Iridium Communications	$0	–	-3,374	–	-0.03%	–
TK	Exit	Teekay Inc	$0	–	-22,065	–	-0.03%	–
MDRIQ	Exit	McDermott International	$0	–	-44,908	–	-0.03%	–
BBT	Exit	BB&T Corporation	$0	–	-1,970	–	-0.04%	–
NM	Exit	Navios Maritime Holdings	$0	–	-23,529	–	-0.04%	–
GE	Exit	General Electric	$0	–	-14,588	–	-0.05%	–
ZIONW	Exit	Zions Bancorpwarrant	$0	–	-11,368	–	-0.05%	–
FNB	Exit	F.N.B. Corporation	$0	–	-13,084	–	-0.06%	–
NMM	Exit	Navios Maritime Partners	$0	–	-8,728	–	-0.06%	–
BHLB	Exit	Berkshire Hills Bancorp	$0	–	-5,239	–	-0.06%	–
PAA	Exit	Plains All American Pipeline	$0	–	-8,448	–	-0.07%	–
BOKF	Exit	BOK Financial	$0	–	-2,230	–	-0.07%	–
GNK	Exit	Genco Shipping	$0	–	-19,889	–	-0.07%	–
KKR	Exit	KKR & Co	$0	–	-6,825	–	-0.07%	–
SUP	Exit	Superior Industries	$0	–	-66,034	–	-0.07%	–
SLYV	Exit	SPDR S&P 600 Small Cap Value ETF	$0	–	-3,100	–	-0.07%	–
TIP	Exit	iShares Barclays TIPS Bond	$0	–	-1,720	–	-0.08%	–
FCCY	Exit	1st Constitution Bancorp	$0	–	-10,644	–	-0.08%	–
CG	Exit	Carlyle Group	$0	–	-7,805	–	-0.08%	–
T	Exit	A T & T	$0	–	-5,616	–	-0.08%	–
APO	Exit	Apollo Global Management	$0	–	-6,020	–	-0.09%	–
RAIL	Exit	FreightCar America	$0	–	-48,730	–	-0.09%	–
	Exit	EZCorp Incconv bond	$0	–	-280,000	–	-0.10%	–
UNIT	Exit	Uniti Group	$0	–	-34,855	–	-0.10%	–
HWC	Exit	Hancock Whitney Corporation	$0	–	-7,711	–	-0.11%	–
FITB	Exit	Fifth Third Bancorp	$0	–	-11,275	–	-0.12%	–
EEM	Exit	iShares MSCI Emerging Markets Index	$0	–	-7,615	–	-0.12%	–
PACW	Exit	Pacwest Bancorp	$0	–	-9,540	–	-0.13%	–
ETRN	Exit	Equitrans Midstream	$0	–	-25,410	–	-0.14%	–
	Exit	Contura Energywarrant	$0	–	-51,757	–	-0.15%	–
FUSB	Exit	First US Bancshares	$0	–	-45,786	–	-0.15%	–
THFF	Exit	The First Financial Corp	$0	–	-9,625	–	-0.16%	–
AAL	Exit	American Airlines Group	$0	–	-15,499	–	-0.16%	–
SD	Exit	SandRidge Energy	$0	–	-91,690	–	-0.16%	–
MOFG	Exit	MidWest One Financial	$0	–	-14,944	–	-0.17%	–
STL	Exit	Sterling Bancorp	$0	–	-24,891	–	-0.19%	–
CVCY	Exit	Central Valley Community Bancorp	$0	–	-24,752	–	-0.19%	–
WLKP	Exit	Westlake Chemical Partners	$0	–	-23,337	–	-0.20%	–
CFG	Exit	Citizens Financial Group	$0	–	-16,239	–	-0.22%	–
	Exit	Homestreet	$0	–	-21,425	–	-0.22%	–
LCI	Exit	Lannett Company	$0	–	-53,003	–	-0.22%	–
IYF	Exit	iShares DJ US Financial Sector	$0	–	-4,774	–	-0.23%	–
ZION	Exit	Zions Bancorp	$0	–	-14,031	–	-0.24%	–
UIS	Exit	Unisys Corp	$0	–	-84,100	–	-0.24%	–
HWBK	Exit	Hawthorn Bancshares	$0	–	-26,512	–	-0.24%	–
STI	Exit	SunTrust Banks	$0	–	-9,898	–	-0.26%	–
ASRV	Exit	AmeriServ Financial	$0	–	-172,832	–	-0.27%	–
CLF	Exit	Cleveland-Cliffs	$0	–	-109,560	–	-0.30%	–
CTRA	Exit	Contura Energy	$0	–	-28,338	–	-0.30%	–
	Exit	Teekay Corpconv bond	$0	–	-1,000,000	–	-0.30%	–
EBMT	Exit	Eagle Bancorp Montana	$0	–	-48,583	–	-0.32%	–
OPB	Exit	Opus Bank	$0	–	-39,105	–	-0.32%	–
PFBX	Exit	Peoples Financial Corp	$0	–	-81,622	–	-0.33%	–
TALO	Exit	Talos Energy	$0	–	-43,465	–	-0.33%	–
	Exit	Global Eagle Entertainmentconv bond	$0	–	-1,880,000	–	-0.34%	–
ARCB	Exit	Arcbest Corp	$0	–	-29,205	–	-0.34%	–
UBOH	Exit	United Bancshares	$0	–	-44,877	–	-0.34%	–
	Exit	Sunpower Corpconv bond	$0	–	-1,000,000	–	-0.34%	–
LOCO	Exit	El Pollo Loco Holdings	$0	–	-83,335	–	-0.34%	–
PFE	Exit	Pfizer	$0	–	-25,941	–	-0.35%	–
	Exit	PDL Biopharmaconv bond	$0	–	-1,000,000	–	-0.35%	–
MFSF	Exit	MutualFirst Financial	$0	–	-29,631	–	-0.35%	–
CVLY	Exit	Codorus Bancorp	$0	–	-40,887	–	-0.36%	–
DOW	Exit	Dow Inc	$0	–	-20,033	–	-0.36%	–
CSCO	Exit	Cisco Systems	$0	–	-19,676	–	-0.37%	–
KMI	Exit	Kinder Morgan	$0	–	-47,491	–	-0.37%	–
GRPN	Exit	Groupon	$0	–	-375,000	–	-0.38%	–
HVT	Exit	Haverty Furniture Company	$0	–	-49,455	–	-0.38%	–
ALSK	Exit	Alaska Communications	$0	–	-599,255	–	-0.39%	–
WBA	Exit	Walgreens Boots Alliance	$0	–	-18,695	–	-0.39%	–
MVBF	Exit	MVB Financial	$0	–	-52,461	–	-0.39%	–
HEAR	Exit	Turtle Beach	$0	–	-90,327	–	-0.40%	–
AGX	Exit	Argan Inc	$0	–	-27,255	–	-0.40%	–
PKBK	Exit	Parke Bancorp	$0	–	-48,364	–	-0.40%	–
KO	Exit	Coca-Cola	$0	–	-19,824	–	-0.41%	–
HMNF	Exit	HMN Financial	$0	–	-47,475	–	-0.41%	–
INTC	Exit	Intel Corporation	$0	–	-21,895	–	-0.42%	–
KE	Exit	Kimball Electronics	$0	–	-77,965	–	-0.43%	–
FCCO	Exit	First Community Corp	$0	–	-59,375	–	-0.44%	–
TRCB	Exit	Two River Bancorp	$0	–	-56,045	–	-0.44%	–
ESSA	Exit	Essa Bancorp	$0	–	-71,371	–	-0.44%	–
SONA	Exit	Southern National Bancorp of Virginia	$0	–	-77,395	–	-0.45%	–
BAC	Exit	Bank of America	$0	–	-40,843	–	-0.45%	–
PEBK	Exit	Peoples Bancorp of NC	$0	–	-41,039	–	-0.46%	–
BPMP	Exit	BP Midstream Partners	$0	–	-83,965	–	-0.46%	–
ONB	Exit	Old National Bancorp	$0	–	-71,921	–	-0.47%	–
CZWI	Exit	Citizens Community Bancorp	$0	–	-112,908	–	-0.47%	–
VZ	Exit	Verizon Communications	$0	–	-21,093	–	-0.48%	–
LGIH	Exit	LGI Homes	$0	–	-15,956	–	-0.50%	–
PFBI	Exit	Premier Financial Bancorp	$0	–	-78,731	–	-0.51%	–
PAGP	Exit	Plains GP Holdings	$0	–	-63,691	–	-0.51%	–
	Exit	Sunpower Corpconv bond	$0	–	-1,470,000	–	-0.51%	–
CIVB	Exit	Civista Bancshares	$0	–	-63,670	–	-0.52%	–
	Exit	EZCorp Incconv bond	$0	–	-1,766,000	–	-0.53%	–
HESM	Exit	Hess Midstream Partners	$0	–	-73,809	–	-0.54%	–
C	Exit	Citigroup	$0	–	-20,907	–	-0.54%	–
	Exit	Synapticsconv bond	$0	–	-1,585,000	–	-0.56%	–
MDC	Exit	MDC Holdings	$0	–	-35,993	–	-0.58%	–
XOM	Exit	Exxon Mobil	$0	–	-22,224	–	-0.59%	–
FUNC	Exit	First United Corp	$0	–	-71,896	–	-0.60%	–
	Exit	Atlas Air Worldwideconv bond	$0	–	-1,810,000	–	-0.61%	–
SHLX	Exit	Shell Midstream Partners	$0	–	-81,404	–	-0.63%	–
AYR	Exit	Aircastle LTD	$0	–	-74,852	–	-0.63%	–
FBMS	Exit	First Bancshares	$0	–	-51,976	–	-0.63%	–
	Exit	Greenbriar Coconv bond	$0	–	-1,765,000	–	-0.64%	–
MRK	Exit	Merck	$0	–	-20,375	–	-0.65%	–
FMCKI	Exit	Freddie Macpref stk	$0	–	-146,105	–	-0.66%	–
NKE	Exit	Nike	$0	–	-18,695	–	-0.66%	–
	Exit	Horizon Globalconv bond	$0	–	-2,260,000	–	-0.68%	–
WTFC	Exit	Wintrust Financial	$0	–	-27,747	–	-0.68%	–
	Exit	Macquarie Infrastructureconv bond	$0	–	-2,000,000	–	-0.68%	–
DKL	Exit	Delek Logistics	$0	–	-59,414	–	-0.70%	–
	Exit	Chesapeake Energyconv bond	$0	–	-3,210,000	–	-0.72%	–
BGEPF	Exit	Bunge Ltdconv pref	$0	–	-18,983	–	-0.73%	–
	Exit	Tutor Perini Corpconv bond	$0	–	-2,089,000	–	-0.75%	–
NMIH	Exit	NMI Holdings	$0	–	-77,848	–	-0.77%	–
	Exit	Encore Capital Groupconv bond	$0	–	-2,125,000	–	-0.78%	–
	Exit	PDL Biopharmaconv bond	$0	–	-2,170,000	–	-0.78%	–
TGP	Exit	Teekay LNG Partners	$0	–	-155,994	–	-0.80%	–
ET	Exit	Energy Transfer	$0	–	-164,462	–	-0.81%	–
GEL	Exit	Genesis Energy	$0	–	-100,650	–	-0.81%	–
EQM	Exit	EQT Midstream Partners	$0	–	-66,654	–	-0.82%	–
WGP	Exit	Western Midstream Partners	$0	–	-88,690	–	-0.83%	–
AXP	Exit	American Express	$0	–	-18,736	–	-0.84%	–
WMT	Exit	Wal-Mart	$0	–	-19,415	–	-0.87%	–
CAT	Exit	Caterpillar	$0	–	-18,736	–	-0.89%	–
DIS	Exit	Walt Disney	$0	–	-19,369	–	-0.95%	–
AM	Exit	Antero Midstream	$0	–	-342,556	–	-0.96%	–
PG	Exit	Procter & Gamble	$0	–	-20,506	–	-0.96%	–
UTX	Exit	United Technologies	$0	–	-18,695	–	-0.96%	–
ENLC	Exit	EnLink Midstream	$0	–	-303,406	–	-0.97%	–
PSXP	Exit	Phillips 66 Partners	$0	–	-46,625	–	-1.00%	–
SMMF	Exit	Summit Financial Group	$0	–	-103,260	–	-1.00%	–
JPM	Exit	JPMorgan Chase	$0	–	-22,746	–	-1.01%	–
JNJ	Exit	Johnson & Johnson	$0	–	-21,007	–	-1.02%	–
BANC	Exit	Banc of California	$0	–	-192,649	–	-1.03%	–
CVX	Exit	Chevron Corporation	$0	–	-23,227	–	-1.04%	–
CWGRP	Exit	Cowenconv pref	$0	–	-3,215	–	-1.04%	–
IBM	Exit	IBM	$0	–	-19,255	–	-1.06%	–
TRV	Exit	Travelers Companies	$0	–	-18,896	–	-1.06%	–
TRGP	Exit	Targa Resources Corp	$0	–	-72,459	–	-1.10%	–
SBFG	Exit	SB Financial Group	$0	–	-174,987	–	-1.10%	–
MSFT	Exit	Microsoft	$0	–	-21,200	–	-1.11%	–
SHYG	Exit	iShares 0-5 Yr High Yield Corporate Bond	$0	–	-64,910	–	-1.14%	–
	Exit	GNC Holdingsconv bond	$0	–	-3,290,000	–	-1.15%	–
MMM	Exit	3M Co	$0	–	-18,825	–	-1.17%	–
EPD	Exit	Enterprise Products Partners	$0	–	-111,110	–	-1.20%	–
V	Exit	Visa	$0	–	-18,730	–	-1.21%	–
ARLP	Exit	Alliance Resource Partners	$0	–	-211,671	–	-1.28%	–
	Exit	Aceto Corpconv bond	$0	–	-3,885,000	–	-1.41%	–
QCRH	Exit	QCR Holdings	$0	–	-100,117	–	-1.43%	–
MPLX	Exit	MPLX	$0	–	-136,496	–	-1.44%	–
GS	Exit	Goldman Sachs	$0	–	-19,070	–	-1.49%	–
WMB	Exit	Williams Companies	$0	–	-165,535	–	-1.50%	–
UNH	Exit	UnitedHealth Group	$0	–	-19,112	–	-1.56%	–
MCD	Exit	McDonald's	$0	–	-19,795	–	-1.60%	–
NGL	Exit	NGL Energy Partners	$0	–	-308,558	–	-1.62%	–
HD	Exit	Home Depot	$0	–	-19,500	–	-1.70%	–
AAPL	Exit	Apple	$0	–	-20,668	–	-1.74%	–
MMP	Exit	Magellan Midstream Partners LP	$0	–	-71,756	–	-1.79%	–
EFA	Exit	iShares MSCI EAFE Index Fund	$0	–	-80,229	–	-1.97%	–
OKE	Exit	ONEOK	$0	–	-75,382	–	-2.09%	–
BA	Exit	Boeing	$0	–	-19,595	–	-2.81%	–
DIA	Exit	SPDR Dow Jones Industrial Average	$0	–	-38,830	–	-3.94%	–

Q3 2019

			Value		Shares		↓ Weighting
DIA	Sell	SPDR Dow Jones Industrial Average	$10,452,303,000	-0.2%	38,830	-1.4%	3.94%	+1.2%
BA	Sell	Boeing	$7,455,310,000	+4.1%	19,595	-0.4%	2.81%	+5.6%
OKE	Sell	ONEOK	$5,554,922,000	+6.9%	75,382	-0.2%	2.09%	+8.5%
MMP	Sell	Magellan Midstream Partners LP	$4,755,270,000	+0.1%	71,756	-3.3%	1.79%	+1.6%
AAPL	Sell	Apple	$4,629,019,000	+12.7%	20,668	-0.4%	1.74%	+14.4%
HD	Sell	Home Depot	$4,524,390,000	+11.1%	19,500	-0.4%	1.70%	+12.7%
NGL	Sell	NGL Energy Partners	$4,292,038,000	-8.3%	308,558	-2.6%	1.62%	-7.0%
MCD	Buy	McDonald's	$4,250,184,000	+3.4%	19,795	+0.1%	1.60%	+5.0%
UNH	Sell	UnitedHealth Group	$4,153,420,000	-11.3%	19,112	-0.4%	1.56%	-10.1%
WMB	Sell	Williams Companies	$3,982,763,000	-15.5%	165,535	-1.6%	1.50%	-14.3%
GS	Sell	Goldman Sachs	$3,951,876,000	+0.9%	19,070	-0.4%	1.49%	+2.3%
MPLX	Buy	MPLX	$3,823,254,000	+26.7%	136,496	+45.6%	1.44%	+28.5%
QCRH	Sell	QCR Holdings	$3,802,443,000	+8.8%	100,117	-0.1%	1.43%	+10.4%
	Sell	Aceto Corpconv bond	$3,729,600,000	+0.9%	3,885,000	-0.1%	1.41%	+2.4%
ARLP	Sell	Alliance Resource Partners	$3,388,853,000	-7.0%	211,671	-1.4%	1.28%	-5.7%
V	Sell	Visa	$3,221,747,000	-1.1%	18,730	-0.3%	1.21%	+0.2%
EPD	Sell	Enterprise Products Partners	$3,175,524,000	-3.2%	111,110	-2.2%	1.20%	-1.8%
MMM	Sell	3M Co	$3,094,830,000	-5.6%	18,825	-0.4%	1.17%	-4.3%
SHYG	Sell	iShares 0-5 Yr High Yield Corporate Bond	$3,017,666,000	-32.2%	64,910	-31.8%	1.14%	-31.2%
MSFT	Sell	Microsoft	$2,947,487,000	+3.4%	21,200	-0.4%	1.11%	+4.9%
SBFG	Sell	SB Financial Group	$2,924,909,000	+1.2%	174,987	-0.3%	1.10%	+2.7%
TRGP	Sell	Targa Resources Corp	$2,910,688,000	-0.1%	72,459	-2.4%	1.10%	+1.4%
TRV	Sell	Travelers Companies	$2,809,646,000	-1.0%	18,896	-0.4%	1.06%	+0.5%
IBM	Sell	IBM	$2,800,062,000	+5.0%	19,255	-0.4%	1.06%	+6.5%
CWGRP	Buy	Cowenconv pref	$2,758,024,000	-4.9%	3,215	+0.5%	1.04%	-3.5%
CVX	Sell	Chevron Corporation	$2,754,751,000	-7.2%	23,227	-2.6%	1.04%	-5.8%
BANC	Buy	Banc of California	$2,724,063,000	+3.8%	192,649	+2.5%	1.03%	+5.3%
JNJ	Sell	Johnson & Johnson	$2,717,886,000	-7.2%	21,007	-0.1%	1.02%	-5.9%
JPM	Sell	JPMorgan Chase	$2,676,977,000	+4.9%	22,746	-0.4%	1.01%	+6.4%
SMMF	Buy	Summit Financial Group	$2,643,449,000	-4.7%	103,260	+0.0%	1.00%	-3.3%
PSXP	Sell	Phillips 66 Partners	$2,639,887,000	+11.6%	46,625	-2.7%	1.00%	+13.2%
ENLC	Sell	EnLink Midstream	$2,578,952,000	-17.9%	303,406	-2.5%	0.97%	-16.6%
UTX	Sell	United Technologies	$2,552,241,000	+4.4%	18,695	-0.4%	0.96%	+5.9%
PG	Sell	Procter & Gamble	$2,550,536,000	+13.0%	20,506	-0.4%	0.96%	+14.5%
AM	Buy	Antero Midstream	$2,534,912,000	-30.4%	342,556	+7.8%	0.96%	-29.4%
DIS	Sell	Walt Disney	$2,524,115,000	-7.1%	19,369	-0.4%	0.95%	-5.7%
CAT	Sell	Caterpillar	$2,366,544,000	-7.7%	18,736	-0.4%	0.89%	-6.4%
WMT	Buy	Wal-Mart	$2,304,172,000	+7.6%	19,415	+0.1%	0.87%	+9.0%
AXP	Sell	American Express	$2,216,094,000	-4.6%	18,736	-0.4%	0.84%	-3.2%
WGP	Sell	Western Midstream Partners	$2,207,494,000	-21.4%	88,690	-2.9%	0.83%	-20.3%
EQM	Buy	EQT Midstream Partners	$2,179,586,000	-24.2%	66,654	+3.6%	0.82%	-23.1%
GEL	Sell	Genesis Energy	$2,160,956,000	-4.1%	100,650	-2.2%	0.81%	-2.7%
ET	Buy	Energy Transfer	$2,151,169,000	+0.7%	164,462	+8.4%	0.81%	+2.1%
TGP	Sell	Teekay LNG Partners	$2,129,318,000	-5.5%	155,994	-2.4%	0.80%	-4.1%
	Sell	PDL Biopharmaconv bond	$2,069,733,000	-37.8%	2,170,000	-31.5%	0.78%	-36.9%
NMIH	Sell	NMI Holdings	$2,044,288,000	-9.2%	77,848	-1.8%	0.77%	-7.9%
	Buy	Tutor Perini Corpconv bond	$1,987,069,000	+11.1%	2,089,000	+10.6%	0.75%	+12.6%
BGEPF	Sell	Bunge Ltdconv pref	$1,929,242,000	+4.2%	18,983	-0.3%	0.73%	+5.7%
DKL	Sell	Delek Logistics	$1,859,064,000	-5.5%	59,414	-3.4%	0.70%	-4.1%
NKE	Sell	Nike	$1,755,834,000	+11.4%	18,695	-0.4%	0.66%	+13.0%
MRK	Sell	Merck	$1,715,168,000	-0.3%	20,375	-0.6%	0.65%	+1.1%
AYR	Buy	Aircastle LTD	$1,678,930,000	+5.6%	74,852	+0.1%	0.63%	+7.1%
SHLX	Buy	Shell Midstream Partners	$1,664,712,000	+6.8%	81,404	+8.2%	0.63%	+8.3%
XOM	Sell	Exxon Mobil	$1,569,237,000	-8.4%	22,224	-0.6%	0.59%	-7.1%
MDC	Sell	MDC Holdings	$1,551,298,000	+30.1%	35,993	-1.1%	0.58%	+32.1%
	New	Synapticsconv bond	$1,482,254,000	–	1,585,000	–	0.56%	–
HESM	Sell	Hess Midstream Partners	$1,421,561,000	-4.3%	73,809	-3.1%	0.54%	-2.9%
CIVB	Sell	Civista Bancshares	$1,383,549,000	-3.9%	63,670	-0.7%	0.52%	-2.6%
PAGP	Buy	Plains GP Holdings	$1,352,159,000	-10.6%	63,691	+5.1%	0.51%	-9.3%
PFBI	Sell	Premier Financial Bancorp	$1,351,818,000	+13.8%	78,731	-0.6%	0.51%	+15.4%
LGIH	Sell	LGI Homes	$1,329,454,000	+16.1%	15,956	-0.5%	0.50%	+17.9%
VZ	Sell	Verizon Communications	$1,273,173,000	+5.2%	21,093	-0.4%	0.48%	+6.9%
CZWI	Sell	Citizens Community Bancorp	$1,249,890,000	+1.8%	112,908	-0.3%	0.47%	+3.3%
ONB	Buy	Old National Bancorp	$1,237,395,000	+3.7%	71,921	+0.0%	0.47%	+5.2%
BPMP	Buy	BP Midstream Partners	$1,225,889,000	+5.8%	83,965	+12.2%	0.46%	+7.2%
SONA	Sell	Southern National Bancorp of Virginia	$1,191,108,000	-0.1%	77,395	-0.6%	0.45%	+1.4%
TRCB	Sell	Two River Bancorp	$1,161,809,000	+42.7%	56,045	-1.1%	0.44%	+45.0%
KE	Buy	Kimball Electronics	$1,131,272,000	-5.7%	77,965	+5.6%	0.43%	-4.5%
INTC	Sell	Intel Corporation	$1,128,249,000	+7.2%	21,895	-0.4%	0.42%	+8.7%
KO	Sell	Coca-Cola	$1,079,219,000	+6.5%	19,824	-0.4%	0.41%	+8.0%
PKBK	Sell	Parke Bancorp	$1,074,648,000	-8.4%	48,364	-1.2%	0.40%	-7.1%
AGX	Buy	Argan Inc	$1,070,849,000	-0.5%	27,255	+2.7%	0.40%	+1.0%
HEAR	Buy	Turtle Beach	$1,054,116,000	+12.3%	90,327	+11.2%	0.40%	+13.8%
WBA	Sell	Walgreens Boots Alliance	$1,034,020,000	+0.7%	18,695	-0.4%	0.39%	+2.4%
ALSK	Buy	Alaska Communications	$1,030,719,000	+5.0%	599,255	+4.4%	0.39%	+6.3%
HVT	Buy	Haverty Furniture Company	$1,002,453,000	+35.4%	49,455	+13.7%	0.38%	+37.5%
GRPN	New	Groupon	$997,500,000	–	375,000	–	0.38%	–
KMI	Buy	Kinder Morgan	$978,789,000	-0.6%	47,491	+0.7%	0.37%	+0.8%
CSCO	Sell	Cisco Systems	$972,191,000	-10.1%	19,676	-0.4%	0.37%	-9.0%
DOW	Sell	Dow Inc	$954,576,000	-3.8%	20,033	-0.4%	0.36%	-2.4%
CVLY	Sell	Codorus Bancorp	$951,043,000	+0.4%	40,887	-0.7%	0.36%	+1.7%
MFSF	Buy	MutualFirst Financial	$933,964,000	-7.4%	29,631	+0.0%	0.35%	-6.1%
PFE	Buy	Pfizer	$932,060,000	-8.5%	25,941	+10.3%	0.35%	-7.4%
	New	PDL Biopharmaconv bond	$930,625,000	–	1,000,000	–	0.35%	–
LOCO	Buy	El Pollo Loco Holdings	$913,352,000	+25.5%	83,335	+22.1%	0.34%	+27.4%
UBOH	Sell	United Bancshares	$898,439,000	-1.3%	44,877	-0.6%	0.34%	+0.3%
ARCB	Sell	Arcbest Corp	$889,292,000	+8.2%	29,205	-0.1%	0.34%	+9.8%
TALO	Buy	Talos Energy	$883,643,000	-4.5%	43,465	+13.0%	0.33%	-3.2%
PFBX	Sell	Peoples Financial Corp	$878,253,000	-8.0%	81,622	-0.7%	0.33%	-6.8%
CTRA	Buy	Contura Energy	$792,330,000	-39.6%	28,338	+12.2%	0.30%	-38.6%
CLF	Buy	Cleveland-Cliffs	$791,023,000	-31.5%	109,560	+1.3%	0.30%	-30.5%
ASRV	Buy	AmeriServ Financial	$715,526,000	-0.2%	172,832	+0.0%	0.27%	+1.5%
STI	Buy	SunTrust Banks	$680,949,000	+9.5%	9,898	+0.0%	0.26%	+11.3%
HWBK	Buy	Hawthorn Bancshares	$631,781,000	-7.5%	26,512	+4.0%	0.24%	-6.3%
UIS	Buy	Unisys Corp	$624,863,000	-8.5%	84,100	+19.6%	0.24%	-7.1%
LCI	Sell	Lannett Company	$593,634,000	+84.4%	53,003	-0.2%	0.22%	+86.7%
CFG	Buy	Citizens Financial Group	$574,373,000	+0.0%	16,239	+0.0%	0.22%	+1.4%
WLKP	New	Westlake Chemical Partners	$542,352,000	–	23,337	–	0.20%	–
CVCY	Sell	Central Valley Community Bancorp	$503,703,000	-6.9%	24,752	-1.7%	0.19%	-5.5%
MOFG	Buy	MidWest One Financial	$456,091,000	+58.4%	14,944	+45.1%	0.17%	+60.7%
SD	Sell	SandRidge Energy	$430,943,000	-32.1%	91,690	-0.1%	0.16%	-31.4%
THFF	New	The First Financial Corp	$418,404,000	–	9,625	–	0.16%	–
	Buy	Contura Energywarrant	$388,178,000	-57.8%	51,757	+15.5%	0.15%	-57.2%
ETRN	Buy	Equitrans Midstream	$369,716,000	-12.6%	25,410	+18.5%	0.14%	-11.5%
HWC	New	Hancock Whitney Corporation	$295,293,000	–	7,711	–	0.11%	–
RAIL	Sell	FreightCar America	$236,341,000	-17.5%	48,730	-0.1%	0.09%	-16.0%
TIP	Buy	iShares Barclays TIPS Bond	$200,067,000	+9.1%	1,720	+8.4%	0.08%	+10.3%
SLYV	Buy	SPDR S&P 600 Small Cap Value ETF	$189,906,000	+28.8%	3,100	+27.6%	0.07%	+30.9%
SUP	Sell	Superior Industries	$190,837,000	-16.6%	66,034	-0.1%	0.07%	-15.3%
BOKF	Buy	BOK Financial	$176,513,000	+48.5%	2,230	+41.6%	0.07%	+52.3%
PAA	Sell	Plains All American Pipeline	$175,296,000	-44.3%	8,448	-34.7%	0.07%	-43.6%
FNB	Buy	F.N.B. Corporation	$150,859,000	+51.8%	13,084	+55.0%	0.06%	+54.1%
NM	Buy	Navios Maritime Holdings	$113,174,000	+44.1%	23,529	+34.2%	0.04%	+48.3%
MDRIQ	Sell	McDermott International	$90,714,000	-79.1%	44,908	-0.2%	0.03%	-78.9%
TK	Sell	Teekay Inc	$88,260,000	-63.8%	22,065	-68.9%	0.03%	-63.7%
TALOWS	Buy	Talos Energywarrant	$65,731,000	-40.4%	67,472	+7.1%	0.02%	-39.0%
ACETQ	Buy	Aceto Corporation	$65,863,000	-21.2%	658,630	+22.2%	0.02%	-19.4%
WPX	New	WPX Energy	$56,600,000	–	5,345	–	0.02%	–
	New	Financial Sector SPDR	$44,800,000	–	1,600	–	0.02%	–
SEMG	New	SemGroup Corp	$35,343,000	–	2,163	–	0.01%	–
PROV	New	Provident Financial Holdings	$25,938,000	–	1,250	–	0.01%	–
F	New	Ford Motor	$22,847,000	–	2,494	–	0.01%	–
	New	Chesapeake Energyconv pref	$17,190,000	–	45	–	0.01%	–
SCHO	New	Schwab Short-Term U.S. Treasury ETF	$15,177,000	–	300	–	0.01%	–
STX	New	Seagate Technology	$10,758,000	–	200	–	0.00%	–
PYPL	New	Paypal Holdings	$10,359,000	–	100	–	0.00%	–
PSMT	New	Pricesmart	$7,110,000	–	100	–	0.00%	–
NNA	New	Navios Maritime Acquisition	$4,933,000	–	733	–	0.00%	–
AMJ	New	JP Morgan Chase Alerian ETN	$5,003,000	–	215	–	0.00%	–
NMCI	Exit	Navios Maritime Containers	$0	–	-94	–	0.00%	–
SDRDW	New	Sandridge Energywarrant	$6,000	–	4,028	–	0.00%	–
SPWR	Exit	SunPower Corporation	$0	–	-236	–	-0.00%	–
TGI	Exit	Triumph Group	$0	–	-100	–	-0.00%	–
UCBI	Exit	United Community Banks	$0	–	-220	–	-0.00%	–
IJH	Exit	iShares Core S&P MidCap 400 Index	$0	–	-21	–	-0.00%	–
HEP	Exit	Holly Energy Partners	$0	–	-534	–	-0.01%	–
MO	Exit	Altria Group	$0	–	-1,257	–	-0.02%	–
	Exit	Horsehead Holdingswarrant	$0	–	-3,329	–	-0.03%	–
OAK	Exit	Oaktree Capital Group	$0	–	-3,815	–	-0.07%	–
MSL	Exit	Midsouth Bancorp	$0	–	-26,140	–	-0.12%	–
HFBC	Exit	HopFed Bancorp	$0	–	-21,687	–	-0.15%	–
BKS	Exit	Barnes & Noble	$0	–	-111,435	–	-0.28%	–
ANDX	Exit	Andeavor Logistics	$0	–	-40,732	–	-0.55%	–

Q2 2019

			Value		Shares		↓ Weighting
DIA	New	SPDR Dow Jones Industrial	$10,473,211,000	–	39,395	–	3.89%	–
BA	New	Boeing	$7,162,625,000	–	19,677	–	2.66%	–
EFA	New	iShares MSCI EAFE Index Fund	$5,273,452,000	–	80,229	–	1.96%	–
OKE	New	ONEOK	$5,195,782,000	–	75,509	–	1.93%	–
MMP	New	Magellan Midstream Partners	$4,748,160,000	–	74,190	–	1.76%	–
WMB	New	Williams Companies	$4,716,037,000	–	168,190	–	1.75%	–
UNH	New	UnitedHealth Group	$4,683,528,000	–	19,194	–	1.74%	–
NGL	New	NGL Energy Partners	$4,679,914,000	–	316,853	–	1.74%	–
SHYG	New	iShares 0-5 Yr High Yield Corporate Bond	$4,447,708,000	–	95,240	–	1.65%	–
MCD	New	McDonald's	$4,108,553,000	–	19,785	–	1.53%	–
AAPL	New	Apple	$4,105,950,000	–	20,746	–	1.52%	–
HD	New	Home Depot	$4,072,469,000	–	19,582	–	1.51%	–
GS	New	Goldman Sachs	$3,918,499,000	–	19,152	–	1.46%	–
	New	Aceto Corpconv bond	$3,695,500,000	–	3,890,000	–	1.37%	–
ARLP	New	Alliance Resource Partners	$3,644,723,000	–	214,648	–	1.35%	–
AM	New	Antero Midstream	$3,643,004,000	–	317,889	–	1.35%	–
QCRH	New	QCR Holdings	$3,493,856,000	–	100,197	–	1.30%	–
	New	PDL Biopharmaconv bond	$3,327,834,000	–	3,170,000	–	1.24%	–
EPD	New	Enterprise Products Partners	$3,280,642,000	–	113,635	–	1.22%	–
MMM	New	3M Co	$3,277,339,000	–	18,907	–	1.22%	–
V	New	Visa	$3,258,748,000	–	18,777	–	1.21%	–
ENLC	New	EnLink Midstream	$3,139,646,000	–	311,164	–	1.17%	–
MPLX	New	MPLX	$3,017,907,000	–	93,753	–	1.12%	–
CVX	New	Chevron Corporation	$2,967,144,000	–	23,844	–	1.10%	–
JNJ	New	Johnson & Johnson	$2,929,337,000	–	21,032	–	1.09%	–
TRGP	New	Targa Resources	$2,913,220,000	–	74,203	–	1.08%	–
CWGRP	New	Cowen Incconv pref	$2,899,156,000	–	3,200	–	1.08%	–
SBFG	New	SB Financial Group	$2,888,992,000	–	175,516	–	1.07%	–
EQM	New	EQT Midstream Partners	$2,874,264,000	–	64,330	–	1.07%	–
MSFT	New	Microsoft Corporation	$2,850,984,000	–	21,282	–	1.06%	–
TRV	New	Travelers	$2,837,591,000	–	18,978	–	1.05%	–
WGP	New	Western Midstream Partners	$2,809,301,000	–	91,300	–	1.04%	–
	New	GNC Holdingsconv bond	$2,788,275,000	–	3,290,000	–	1.04%	–
SMMF	New	Summit Financial Group	$2,772,509,000	–	103,259	–	1.03%	–
DIS	New	Disney	$2,715,810,000	–	19,449	–	1.01%	–
IBM	New	IBM	$2,666,572,000	–	19,337	–	0.99%	–
BANC	New	Banc of California	$2,624,668,000	–	187,879	–	0.98%	–
CAT	New	Caterpillar	$2,564,705,000	–	18,818	–	0.95%	–
	New	Chesapeake Energyconv bond	$2,562,158,000	–	3,210,000	–	0.95%	–
JPM	New	JPMorgan	$2,552,170,000	–	22,828	–	0.95%	–
UTX	New	United Technologies	$2,444,765,000	–	18,777	–	0.91%	–
PSXP	New	Phillips 66 Partners	$2,364,721,000	–	47,917	–	0.88%	–
AXP	New	American Express Company	$2,322,894,000	–	18,818	–	0.86%	–
PG	New	Procter & Gamble	$2,257,474,000	–	20,588	–	0.84%	–
TGP	New	Teekay LNG Partners	$2,253,251,000	–	159,805	–	0.84%	–
GEL	New	Genesis Energy	$2,252,963,000	–	102,875	–	0.84%	–
NMIH	New	NMI Holdings	$2,251,469,000	–	79,305	–	0.84%	–
WMT	New	Wal-Mart	$2,142,180,000	–	19,388	–	0.80%	–
ET	New	Energy Transfer	$2,137,134,000	–	151,785	–	0.79%	–
WTFC	New	Wintrust Financial	$2,029,971,000	–	27,747	–	0.75%	–
	New	Encore Capital Groupconv bond	$2,003,663,000	–	2,125,000	–	0.74%	–
DKL	New	Delek Logistics Partners	$1,968,128,000	–	61,504	–	0.73%	–
BGEPF	New	Bungeconv pref	$1,850,980,000	–	19,043	–	0.69%	–
	New	Tutor Perini Corpconv bond	$1,789,217,000	–	1,889,000	–	0.66%	–
	New	Macquarie Infrastructureconv bond	$1,779,910,000	–	2,000,000	–	0.66%	–
	New	Atlas Air Worldwide Holdingsconv bond	$1,777,512,000	–	1,810,000	–	0.66%	–
MRK	New	Merck	$1,719,512,000	–	20,507	–	0.64%	–
XOM	New	Exxon Mobil Corporation	$1,713,140,000	–	22,356	–	0.64%	–
	New	Greenbriar Cconv bond	$1,694,684,000	–	1,765,000	–	0.63%	–
FMCKI	New	Freddie Macpref stk	$1,648,064,000	–	146,105	–	0.61%	–
	New	EZCorp Incconv bond	$1,595,336,000	–	1,766,000	–	0.59%	–
AYR	New	Aircastle LTD	$1,589,802,000	–	74,779	–	0.59%	–
NKE	New	Nike	$1,576,329,000	–	18,777	–	0.59%	–
FBMS	New	First Bancshares	$1,576,952,000	–	51,976	–	0.59%	–
SHLX	New	Shell Midstream Partners	$1,558,952,000	–	75,239	–	0.58%	–
PAGP	New	Plains GP Holdings	$1,512,857,000	–	60,587	–	0.56%	–
HESM	New	Hess Midstream Partners	$1,484,906,000	–	76,149	–	0.55%	–
ANDX	New	Andeavor Logistics	$1,479,794,000	–	40,732	–	0.55%	–
C	New	Citigroup	$1,464,117,000	–	20,907	–	0.54%	–
CIVB	New	Civista Bancshares	$1,439,943,000	–	64,140	–	0.54%	–
FUNC	New	First United Corp	$1,417,070,000	–	71,896	–	0.53%	–
	New	Sunpower Corpconv bond	$1,338,883,000	–	1,470,000	–	0.50%	–
CTRA	New	Contura Energy	$1,311,046,000	–	25,261	–	0.49%	–
	New	Horizon Global Corpconv bond	$1,293,172,000	–	2,260,000	–	0.48%	–
PEBK	New	Peoples Bancorp of NC	$1,233,222,000	–	41,039	–	0.46%	–
CZWI	New	Citizens Community Bancorp	$1,227,499,000	–	113,238	–	0.46%	–
VZ	New	Verizon Communications	$1,209,728,000	–	21,175	–	0.45%	–
KE	New	Kimball Electronics	$1,199,324,000	–	73,850	–	0.45%	–
MDC	New	MDC Holdings	$1,192,536,000	–	36,380	–	0.44%	–
SONA	New	Southern National Bancorp	$1,192,004,000	–	77,858	–	0.44%	–
ONB	New	Old National Bancorp	$1,193,138,000	–	71,919	–	0.44%	–
PFBI	New	Premier Financial Bancorp	$1,187,843,000	–	79,190	–	0.44%	–
BAC	New	Bank of America	$1,184,447,000	–	40,843	–	0.44%	–
PKBK	New	Parke Bancorp	$1,172,640,000	–	48,962	–	0.44%	–
BPMP	New	BP Midstream Partners	$1,158,833,000	–	74,860	–	0.43%	–
CLF	New	Cleveland-Cliffs	$1,154,441,000	–	108,195	–	0.43%	–
LGIH	New	LGI Homes	$1,145,094,000	–	16,031	–	0.42%	–
FCCO	New	First Community Corp	$1,099,031,000	–	59,375	–	0.41%	–
ESSA	New	Essa Bancorp	$1,088,408,000	–	71,371	–	0.40%	–
CSCO	New	Cisco Systems	$1,081,355,000	–	19,758	–	0.40%	–
AGX	New	Argan	$1,076,503,000	–	26,541	–	0.40%	–
INTC	New	Intel Corporation	$1,052,039,000	–	21,977	–	0.39%	–
WBA	New	Walgreens Boots Alliance	$1,026,539,000	–	18,777	–	0.38%	–
PFE	New	Pfizer	$1,019,016,000	–	23,523	–	0.38%	–
KO	New	Coca-Cola	$1,013,614,000	–	19,906	–	0.38%	–
MFSF	New	MutualFirst Financial	$1,008,589,000	–	29,630	–	0.38%	–
HMNF	New	HMN Financial	$996,975,000	–	47,475	–	0.37%	–
DOW	New	Dow Inc	$991,874,000	–	20,115	–	0.37%	–
KMI	New	Kinder Morgan	$985,000,000	–	47,174	–	0.37%	–
ALSK	New	Alaska Communications System	$981,634,000	–	574,055	–	0.36%	–
PFBX	New	Peoples Financial Corp	$954,839,000	–	82,172	–	0.36%	–
CVLY	New	Codorus Bancorp	$946,879,000	–	41,169	–	0.35%	–
HEAR	New	Turtle Beach	$938,753,000	–	81,207	–	0.35%	–
TALO	New	Talos Energy	$925,204,000	–	38,470	–	0.34%	–
	New	Contura Energywarrant	$918,913,000	–	44,825	–	0.34%	–
UBOH	New	United Bancshares	$910,700,000	–	45,151	–	0.34%	–
MVBF	New	MVB Financial Corp	$889,739,000	–	52,461	–	0.33%	–
	New	Global Eagle Entertainmentconv bond	$886,247,000	–	1,880,000	–	0.33%	–
	New	Sunpower Corpconv bond	$886,360,000	–	1,000,000	–	0.33%	–
OPB	New	Opus Bank	$825,507,000	–	39,105	–	0.31%	–
ARCB	New	Arcbest	$821,936,000	–	29,240	–	0.30%	–
TRCB	New	Two River Bancorp	$814,166,000	–	56,697	–	0.30%	–
EBMT	New	Eagle Bancorp Montana	$806,478,000	–	48,583	–	0.30%	–
	New	Teekay Corpconv bond	$783,125,000	–	1,000,000	–	0.29%	–
BKS	New	Barnes & Noble	$745,500,000	–	111,435	–	0.28%	–
HVT	New	Haverty Furniture Company	$740,550,000	–	43,485	–	0.28%	–
LOCO	New	El Pollo Loco Holdings	$727,598,000	–	68,255	–	0.27%	–
ASRV	New	AmeriServ Financial	$717,241,000	–	172,829	–	0.27%	–
HWBK	New	Hawthorn Bancshares	$683,293,000	–	25,496	–	0.25%	–
UIS	New	Unisys Corp	$683,219,000	–	70,290	–	0.25%	–
ZION	New	Zions Bancorp	$645,145,000	–	14,031	–	0.24%	–
SD	New	SandRidge Energy	$634,910,000	–	91,750	–	0.24%	–
	New	Homestreet	$635,037,000	–	21,425	–	0.24%	–
STI	New	SunTrust Banks	$622,035,000	–	9,897	–	0.23%	–
IYF	New	iShares DJ US Financial Sector	$599,614,000	–	4,774	–	0.22%	–
CFG	New	Citizens Financial Group Inc.	$574,173,000	–	16,238	–	0.21%	–
CVCY	New	Central Valley Community Bancorp	$540,872,000	–	25,192	–	0.20%	–
STL	New	Sterling Bancorp	$529,680,000	–	24,891	–	0.20%	–
AAL	New	American Airlines Group	$505,422,000	–	15,499	–	0.19%	–
MDRIQ	New	McDermott International	$434,516,000	–	44,981	–	0.16%	–
ETRN	New	Equitrans Midstream Corporation	$422,780,000	–	21,450	–	0.16%	–
FUSB	New	First US Bancshares	$423,064,000	–	45,786	–	0.16%	–
HFBC	New	HopFed Bancorp	$411,393,000	–	21,687	–	0.15%	–
PACW	New	Pacwest Bancorp	$370,438,000	–	9,540	–	0.14%	–
UNIT	New	Uniti Group	$331,123,000	–	34,855	–	0.12%	–
EEM	New	iShares MSCI Emerging Markets	$326,760,000	–	7,615	–	0.12%	–
LCI	New	Lannett Company	$321,925,000	–	53,123	–	0.12%	–
	New	EZCorp Incconv bond	$315,504,000	–	280,000	–	0.12%	–
FITB	New	Fifth Third Bancorp	$314,573,000	–	11,275	–	0.12%	–
PAA	New	Plains All American Pipeline	$314,919,000	–	12,933	–	0.12%	–
MSL	New	Midsouth Bancorp	$309,759,000	–	26,140	–	0.12%	–
MOFG	New	MidWest One Financial Group	$287,960,000	–	10,299	–	0.11%	–
RAIL	New	FreightCar America	$286,427,000	–	48,795	–	0.11%	–
TK	New	Teekay Inc	$243,686,000	–	70,839	–	0.09%	–
SUP	New	Superior Industries	$228,719,000	–	66,104	–	0.08%	–
APO	New	Apollo Global Management	$206,486,000	–	6,020	–	0.08%	–
FCCY	New	1st Constitution Bancorp	$196,595,000	–	10,644	–	0.07%	–
OAK	New	Oaktree Capital Group	$188,995,000	–	3,815	–	0.07%	–
T	New	A T & T	$188,192,000	–	5,616	–	0.07%	–
TIP	New	iShares Barclays TIPS Bond	$183,331,000	–	1,587	–	0.07%	–
CG	New	Carlyle Group	$176,471,000	–	7,805	–	0.07%	–
KKR	New	KKR	$172,468,000	–	6,825	–	0.06%	–
GNK	New	Genco Shipping & Trading	$167,867,000	–	19,889	–	0.06%	–
BHLB	New	Berkshire Hills Bancorp	$164,452,000	–	5,239	–	0.06%	–
GE	New	General Electric Company	$153,173,000	–	14,588	–	0.06%	–
ZIONW	New	Zions Bancorpwarrant	$150,967,000	–	11,368	–	0.06%	–
SLYV	New	SPDR S&P 600 Small Cap Value	$147,452,000	–	2,430	–	0.06%	–
IRDM	New	Iridium Communications	$118,417,000	–	3,374	–	0.04%	–
BOKF	New	BOK Financial	$118,889,000	–	1,575	–	0.04%	–
NMM	New	Navios Maritime Partners	$117,828,000	–	8,728	–	0.04%	–
TALOWS	New	Talos Energywarrant	$110,201,000	–	62,972	–	0.04%	–
FNB	New	F.N.B. Corporation	$99,386,000	–	8,444	–	0.04%	–
BBT	New	BB&T Corporation	$96,786,000	–	1,970	–	0.04%	–
	New	Horsehead Holdingswarrant	$83,225,000	–	3,329	–	0.03%	–
ACETQ	New	Aceto Corporation	$83,565,000	–	539,130	–	0.03%	–
NM	New	Navios Maritime Holdings	$78,530,000	–	17,529	–	0.03%	–
MO	New	Altria Group	$59,541,000	–	1,257	–	0.02%	–
BACPRL	New	Bank of Americaconv pref	$39,788,000	–	29	–	0.02%	–
HA	New	Hawaiian Holdings	$35,138,000	–	1,281	–	0.01%	–
EZPW	New	EZCORP	$29,026,000	–	3,065	–	0.01%	–
TSBK	New	Timberland Bancorp	$29,880,000	–	1,000	–	0.01%	–
FNMAS	New	Fannie Maepref stk	$24,920,000	–	2,000	–	0.01%	–
EOG	New	EOG Resources	$23,290,000	–	250	–	0.01%	–
AZN	New	Astrazeneca	$20,640,000	–	500	–	0.01%	–
AGM	New	Federal Agricultural Mortgage	$18,165,000	–	250	–	0.01%	–
COFS	New	Choiceone Financial Services	$18,709,000	–	634	–	0.01%	–
GM	New	General Motors	$15,412,000	–	400	–	0.01%	–
TNK	New	Teekay Tankers	$12,928,000	–	10,100	–	0.01%	–
HEP	New	Holly Energy Partners	$14,685,000	–	534	–	0.01%	–
CHK	New	Chesapeake Energy	$10,204,000	–	5,233	–	0.00%	–
DHI	New	DR Horton	$10,783,000	–	250	–	0.00%	–
QEP	New	QEP Resources	$10,845,000	–	1,500	–	0.00%	–
TOO	New	Teekay Offshore Partners	$11,664,000	–	9,257	–	0.00%	–
TOL	New	Toll Brothers	$7,324,000	–	200	–	0.00%	–
M	New	Macy's	$8,584,000	–	400	–	0.00%	–
UCBI	New	United Community Banks	$6,283,000	–	220	–	0.00%	–
MTH	New	Meritage Homes Corporation	$5,134,000	–	100	–	0.00%	–
IJH	New	iShares Core S&P MidCap 400 Index	$4,079,000	–	21	–	0.00%	–
SPWR	New	SunPower Corporation	$2,523,000	–	236	–	0.00%	–
TGI	New	Triumph Group	$2,290,000	–	100	–	0.00%	–
AKS	New	AK Steel	$3,555,000	–	1,500	–	0.00%	–
PYXSQ	New	Pyxus International	$3,040,000	–	200	–	0.00%	–
GNKWF	New	Genco Shippingwarrant	$216,000	–	2,155	–	0.00%	–
NMCI	New	Navios Maritime Containers	$183,000	–	94	–	0.00%	–

Q4 2018

			Value		Shares		↓ Weighting
GNKWF	Exit	Genco Shippingwarrant	$0	–	-2,155	–	0.00%	–
PQ	Exit	PetroQuest Energy	$0	–	-2,500	–	0.00%	–
SDRDW	Exit	Sandridge Energywarrant	$0	–	-4,028	–	0.00%	–
SPWR	Exit	SunPower Corporation	$0	–	-236	–	-0.00%	–
CWSA	Exit	Citigroupwarrant	$0	–	-1,653,040	–	-0.00%	–
PTQEP	Exit	PetroQuest Energyconv pref	$0	–	-59,277	–	-0.00%	–
TOL	Exit	Toll Brothers	$0	–	-200	–	-0.00%	–
JNEEP	Exit	Jones Energyconv pref	$0	–	-600	–	-0.00%	–
SWN	Exit	Southwestern Energy Company	$0	–	-1,000	–	-0.00%	–
PYXSQ	Exit	Pyxus International	$0	–	-200	–	-0.00%	–
NNA	Exit	Navios Maritime Acquisition	$0	–	-11,000	–	-0.00%	–
STX	Exit	Seagate Technology	$0	–	-200	–	-0.00%	–
RCII	Exit	Rent-A-Center	$0	–	-575	–	-0.00%	–
AKS	Exit	AK Steel	$0	–	-1,500	–	-0.00%	–
TNK	Exit	Teekay Tankers	$0	–	-10,100	–	-0.00%	–
FNMAS	Exit	Fannie Maepref stk	$0	–	-2,000	–	-0.00%	–
M	Exit	Macys	$0	–	-400	–	-0.01%	–
HCRSQ	Exit	Hi Crush Partners	$0	–	-1,400	–	-0.01%	–
GM	Exit	General Motors	$0	–	-400	–	-0.01%	–
NMM	Exit	Navios Maritime Partners	$0	–	-9,100	–	-0.01%	–
	Exit	Chesapeake Energyconv pref	$0	–	-21	–	-0.01%	–
AGM	Exit	Federal Agricultural Mortgage	$0	–	-250	–	-0.01%	–
COFS	Exit	Choiceone Financial Services	$0	–	-604	–	-0.01%	–
QEP	Exit	QEP Resources	$0	–	-1,500	–	-0.01%	–
CHK	Exit	Chesapeake Energy	$0	–	-4,233	–	-0.01%	–
TOO	Exit	Teekay Offshore Partners	$0	–	-9,257	–	-0.01%	–
UMPQ	Exit	Umpqua Holdings	$0	–	-1,000	–	-0.01%	–
F	Exit	Ford Motor	$0	–	-2,458	–	-0.01%	–
TSBK	Exit	Timberland Bancorp	$0	–	-1,000	–	-0.01%	–
EZPW	Exit	EZCORP	$0	–	-3,065	–	-0.01%	–
BACPRL	Exit	Bank of Americaconv pref	$0	–	-29	–	-0.01%	–
SEMG	Exit	SemGroup Corp	$0	–	-2,163	–	-0.02%	–
HA	Exit	Hawaiian Holdings	$0	–	-1,281	–	-0.02%	–
BACWSB	Exit	Bank of America Corpwarrant	$0	–	-215,625	–	-0.02%	–
BBT	Exit	BB&T Corporation	$0	–	-1,443	–	-0.02%	–
TISUQ	Exit	Orchids Paper Products	$0	–	-27,500	–	-0.03%	–
WPX	Exit	WPX Energy	$0	–	-4,630	–	-0.03%	–
FNB	Exit	F.N.B. Corporation	$0	–	-8,444	–	-0.04%	–
TALOWS	Exit	Talos Energywarrant	$0	–	-27,772	–	-0.04%	–
IRDM	Exit	Iridium Communications	$0	–	-5,597	–	-0.04%	–
	Exit	Horsehead Holdingswarrant	$0	–	-3,396	–	-0.05%	–
ETP	Exit	Energy Transfer Partners	$0	–	-6,185	–	-0.05%	–
TIP	Exit	iShares Barclays TIPS Bond	$0	–	-1,353	–	-0.05%	–
OAK	Exit	Oaktree Capital Group	$0	–	-3,815	–	-0.06%	–
T	Exit	A T & T	$0	–	-5,035	–	-0.06%	–
CG	Exit	Carlyle Group	$0	–	-7,805	–	-0.06%	–
KKR	Exit	KKR & Co	$0	–	-6,825	–	-0.06%	–
GE	Exit	General Electric Company	$0	–	-18,288	–	-0.07%	–
BHLB	Exit	Berkshire Hills Bancorp	$0	–	-5,099	–	-0.07%	–
APO	Exit	Apollo Global Management	$0	–	-6,020	–	-0.07%	–
ZIONW	Exit	Zions Bancorpwarrant	$0	–	-11,938	–	-0.07%	–
ET	Exit	Energy Transfer Equity	$0	–	-12,474	–	-0.08%	–
BX	Exit	Blackstone Group	$0	–	-5,985	–	-0.08%	–
LCI	Exit	Lannett Company	$0	–	-52,058	–	-0.08%	–
NM	Exit	Navios Maritime Holdings	$0	–	-347,790	–	-0.08%	–
FCCY	Exit	1st Constitution Bancorp	$0	–	-12,444	–	-0.09%	–
FITB	Exit	Fifth Third Bancorp	$0	–	-11,275	–	-0.11%	–
	Exit	Bank of Americawarrant	$0	–	-18,000	–	-0.11%	–
PAA	Exit	Plains All American Pipeline	$0	–	-13,133	–	-0.11%	–
MOFG	Exit	MidWest One Financial	$0	–	-10,229	–	-0.12%	–
GNK	Exit	Genco Shipping	$0	–	-26,681	–	-0.13%	–
HFBC	Exit	HopFed Bancorp	$0	–	-21,684	–	-0.13%	–
MSL	Exit	Midsouth Bancorp	$0	–	-26,130	–	-0.14%	–
EGY	Exit	Vaalco Energy	$0	–	-175,000	–	-0.16%	–
FUSB	Exit	First US Bancshares	$0	–	-46,245	–	-0.17%	–
CVCY	Exit	Central Valley Community Bancorp	$0	–	-24,942	–	-0.19%	–
	Exit	Invensenseconv bond	$0	–	-560,000	–	-0.19%	–
STL	Exit	Sterling Bancorp	$0	–	-24,771	–	-0.19%	–
AAL	Exit	American Airlines Group	$0	–	-13,984	–	-0.20%	–
	Exit	Homestreet	$0	–	-22,540	–	-0.21%	–
CFG	Exit	Citizens Financial Group	$0	–	-15,951	–	-0.21%	–
HWBK	Exit	Hawthorn Bancshares	$0	–	-27,226	–	-0.21%	–
STI	Exit	SunTrust Banks	$0	–	-9,896	–	-0.23%	–
FMCKI	Exit	Freddie Macpref stk	$0	–	-155,105	–	-0.24%	–
UNIT	Exit	Uniti Group	$0	–	-34,855	–	-0.24%	–
SLYV	Exit	SPDR S&P 600 Small Cap Value	$0	–	-10,381	–	-0.24%	–
BKS	Exit	Barnes & Noble	$0	–	-123,290	–	-0.25%	–
SD	Exit	SandRidge Energy	$0	–	-67,115	–	-0.25%	–
ZION	Exit	Zions Bancorp	$0	–	-14,631	–	-0.25%	–
RAIL	Exit	FreightCar America	$0	–	-46,379	–	-0.26%	–
KMI	Exit	Kinder Morgan	$0	–	-42,370	–	-0.26%	–
SHYG	Exit	iShares 0-5 Yr High Yield Corporate Bond	$0	–	-16,655	–	-0.27%	–
ASRV	Exit	AmeriServ Financial	$0	–	-185,721	–	-0.28%	–
LGIH	Exit	LGI Homes	$0	–	-17,036	–	-0.28%	–
	Exit	Sunpower Corpconv bond	$0	–	-1,000,000	–	-0.29%	–
EBMT	Exit	Eagle Bancorp	$0	–	-48,930	–	-0.31%	–
TK	Exit	Teekay Inc	$0	–	-134,159	–	-0.31%	–
	Exit	Royal Goldconv bond	$0	–	-895,000	–	-0.31%	–
TGI	Exit	Triumph Group	$0	–	-38,867	–	-0.31%	–
	Exit	Teekay Corpconv bond	$0	–	-1,000,000	–	-0.31%	–
KO	Exit	Coca-Cola	$0	–	-20,255	–	-0.32%	–
LOCO	Exit	El Pollo Loco Holdings	$0	–	-75,325	–	-0.33%	–
SUP	Exit	Superior Industries	$0	–	-55,301	–	-0.33%	–
CSCO	Exit	Cisco Systems	$0	–	-19,551	–	-0.33%	–
MDRIQ	Exit	McDermott International	$0	–	-52,051	–	-0.33%	–
MVBF	Exit	MVB Financial Corp	$0	–	-53,221	–	-0.33%	–
ALSK	Exit	Alaska Communications	$0	–	-595,000	–	-0.34%	–
HVT	Exit	Haverty Furniture	$0	–	-44,493	–	-0.34%	–
INTC	Exit	Intel Corporation	$0	–	-21,228	–	-0.35%	–
HMNF	Exit	HMN Financial	$0	–	-49,975	–	-0.35%	–
PFE	Exit	Pfizer	$0	–	-23,703	–	-0.36%	–
TRCB	Exit	Two River Bancorp	$0	–	-60,382	–	-0.36%	–
MDC	Exit	MDC Holdings	$0	–	-35,835	–	-0.37%	–
UBOH	Exit	United Bancshares	$0	–	-47,734	–	-0.38%	–
TALO	Exit	Talos Energy	$0	–	-33,380	–	-0.38%	–
PFBX	Exit	Peoples Financial	$0	–	-84,272	–	-0.38%	–
OPB	Exit	Opus Bank	$0	–	-40,070	–	-0.38%	–
VZ	Exit	Verizon	$0	–	-21,397	–	-0.39%	–
ENLC	Exit	EnLink Midstream	$0	–	-69,941	–	-0.40%	–
MFSF	Exit	MutualFirst Financial	$0	–	-31,628	–	-0.40%	–
AGX	Exit	Argan Inc	$0	–	-27,370	–	-0.41%	–
PKBK	Exit	Parke Bancorp	$0	–	-52,920	–	-0.41%	–
ESSA	Exit	Essa Bancorp	$0	–	-73,351	–	-0.41%	–
PEBK	Exit	Peoples Bancorp	$0	–	-42,496	–	-0.42%	–
BAC	Exit	Bank of America	$0	–	-41,805	–	-0.42%	–
	Exit	Sunpower Corp.conv bond	$0	–	-1,525,000	–	-0.43%	–
CVLY	Exit	Codorus Bancorp	$0	–	-40,145	–	-0.43%	–
DWDP	Exit	DowDuPont	$0	–	-19,797	–	-0.44%	–
UIS	Exit	Unisys Corp	$0	–	-65,880	–	-0.46%	–
WBA	Exit	Walgreens Boots Alliance	$0	–	-18,928	–	-0.48%	–
C	Exit	Citigroup	$0	–	-19,469	–	-0.48%	–
ONB	Exit	Old National Bancorp	$0	–	-72,544	–	-0.48%	–
FUNC	Exit	First United Corp	$0	–	-75,086	–	-0.49%	–
	Exit	Navistar Intlconv bond	$0	–	-1,430,000	–	-0.49%	–
	Exit	Global Eagle Entertainmentconv bond	$0	–	-1,975,000	–	-0.50%	–
MRK	Exit	Merck	$0	–	-20,674	–	-0.51%	–
FCCO	Exit	First Community Corp	$0	–	-60,875	–	-0.51%	–
	Exit	Acetoconv bond	$0	–	-1,975,000	–	-0.51%	–
BPMP	Exit	BP Midstream Partners	$0	–	-80,035	–	-0.52%	–
KE	Exit	Kimball Electronics	$0	–	-76,770	–	-0.52%	–
SONA	Exit	Southern National Bancorp of Virginia	$0	–	-93,959	–	-0.53%	–
PAGP	Exit	Plains GP Holdings	$0	–	-62,133	–	-0.53%	–
PFBI	Exit	Premier Financial Bancorp	$0	–	-82,600	–	-0.53%	–
ARCB	Exit	Arcbest Corp	$0	–	-31,895	–	-0.54%	–
HESM	Exit	Hess Midstream	$0	–	-69,855	–	-0.55%	–
NKE	Exit	Nike	$0	–	-18,928	–	-0.55%	–
CIVB	Exit	Civista Bancshares	$0	–	-67,240	–	-0.56%	–
CZWI	Exit	Citizens Community Bancorp	$0	–	-115,690	–	-0.56%	–
SHLX	Exit	Shell Midstream Partners	$0	–	-77,479	–	-0.57%	–
AYR	Exit	Aircastle LTD	$0	–	-78,957	–	-0.60%	–
	Exit	Atlas Air Worldwideconv bond	$0	–	-1,505,000	–	-0.60%	–
PG	Exit	Procter & Gamble	$0	–	-20,853	–	-0.60%	–
	Exit	Horizon Globalconv bond	$0	–	-2,435,000	–	-0.61%	–
	Exit	Macquarie Infrastructureconv bond	$0	–	-2,010,000	–	-0.62%	–
WMT	Exit	Wal-Mart Stores	$0	–	-19,539	–	-0.63%	–
	Exit	Encore Capitalconv bond	$0	–	-2,040,000	–	-0.65%	–
	Exit	KB HOMEconv bond	$0	–	-1,870,000	–	-0.65%	–
CTRA	Exit	Contura Energy	$0	–	-24,245	–	-0.66%	–
	Exit	Contura Energywarrant	$0	–	-42,280	–	-0.66%	–
XOM	Exit	Exxon Mobil	$0	–	-22,621	–	-0.66%	–
AXP	Exit	American Express	$0	–	-18,969	–	-0.70%	–
ANDX	Exit	Andeavor Logistics	$0	–	-42,518	–	-0.71%	–
FBMS	Exit	First Bancshares	$0	–	-53,816	–	-0.73%	–
BGEPF	Exit	Bunge Ltdconv pref	$0	–	-19,751	–	-0.74%	–
DKL	Exit	Delek Logistics Partners	$0	–	-65,089	–	-0.76%	–
DIS	Exit	Walt Disney	$0	–	-19,546	–	-0.79%	–
	Exit	Titan Machineryconv bond	$0	–	-2,327,000	–	-0.79%	–
GEL	Exit	Genesis Energy	$0	–	-101,731	–	-0.84%	–
WTFC	Exit	Wintrust Financial	$0	–	-28,466	–	-0.84%	–
MSFT	Exit	Microsoft Corporation	$0	–	-21,547	–	-0.85%	–
TRV	Exit	Travelers Companies	$0	–	-19,129	–	-0.86%	–
SMMF	Exit	Summit Financial Group	$0	–	-107,265	–	-0.86%	–
HEP	Exit	Holly Energy Partners	$0	–	-79,642	–	-0.86%	–
	Exit	GNC Holdingsconv bond	$0	–	-3,290,000	–	-0.88%	–
TGP	Exit	Teekay LNG Partners	$0	–	-152,372	–	-0.88%	–
JPM	Exit	JPMorgan Chase	$0	–	-22,798	–	-0.89%	–
TLP	Exit	Transmontaigne Partners	$0	–	-67,105	–	-0.89%	–
PSXP	Exit	Phillips 66 Partners	$0	–	-50,721	–	-0.90%	–
UTX	Exit	United Technologies	$0	–	-18,928	–	-0.91%	–
AM	Exit	Antero Midstream Partners	$0	–	-96,249	–	-0.95%	–
NMIH	Exit	NMI Holdings	$0	–	-125,775	–	-0.98%	–
V	Exit	Visa	$0	–	-18,983	–	-0.98%	–
SLMNP	Exit	A Schulmannconv pref	$0	–	-2,886	–	-1.00%	–
CAT	Exit	Caterpillar	$0	–	-18,985	–	-1.00%	–
IBM	Exit	IBM	$0	–	-19,160	–	-1.00%	–
CVX	Exit	Chevron Corporation	$0	–	-23,967	–	-1.01%	–
JNJ	Exit	Johnson & Johnson	$0	–	-21,342	–	-1.02%	–
	Exit	PDL Biopharmaconv bond	$0	–	-3,260,000	–	-1.11%	–
	Exit	Chesapeake Energyconv bond	$0	–	-3,330,000	–	-1.14%	–
EPD	Exit	Enterprise Products Partners	$0	–	-117,749	–	-1.17%	–
MCD	Exit	McDonald's	$0	–	-20,235	–	-1.17%	–
MPLX	Exit	MPLX	$0	–	-97,663	–	-1.17%	–
	Exit	EZCorpconv bond	$0	–	-3,435,000	–	-1.17%	–
EQM	Exit	EQT Midstream Partners	$0	–	-67,473	–	-1.23%	–
SBFG	Exit	SB Financial Group	$0	–	-184,028	–	-1.29%	–
BANC	Exit	Banc of California	$0	–	-199,231	–	-1.30%	–
NGL	Exit	NGL Energy Partners	$0	–	-339,928	–	-1.36%	–
MMM	Exit	3M	$0	–	-18,928	–	-1.38%	–
ENLK	Exit	EnLink Midstream Partners	$0	–	-217,002	–	-1.40%	–
HD	Exit	Home Depot	$0	–	-19,713	–	-1.41%	–
TRGP	Exit	Targa Resources Corp	$0	–	-72,978	–	-1.42%	–
GS	Exit	Goldman Sachs	$0	–	-19,003	–	-1.47%	–
ARLP	Exit	Alliance Resource Partners	$0	–	-217,911	–	-1.54%	–
QCRH	Exit	QCR Holdings	$0	–	-108,897	–	-1.54%	–
AAPL	Exit	Apple	$0	–	-19,922	–	-1.55%	–
UNH	Exit	UnitedHealth Group	$0	–	-19,299	–	-1.77%	–
EFA	Exit	iShares MSCI EAFE Index Fund	$0	–	-77,069	–	-1.81%	–
OKE	Exit	ONEOK	$0	–	-78,907	–	-1.85%	–
MMP	Exit	Magellan Midstream Partners	$0	–	-79,040	–	-1.85%	–
WMB	Exit	Williams Companies	$0	–	-220,995	–	-2.08%	–
BA	Exit	Boeing	$0	–	-19,883	–	-2.55%	–
DIA	Exit	SPDR Dow Jones Industrial	$0	–	-36,867	–	-3.37%	–

Q3 2018

			Value		Shares		↓ Weighting
DIA	Sell	SPDR Dow Jones Industrial	$9,747,514,000	+7.4%	36,867	-1.4%	3.37%	+6.5%
BA	Sell	Boeing	$7,394,488,000	+10.5%	19,883	-0.3%	2.55%	+9.5%
WMB	Buy	Williams Companies	$6,008,847,000	+169.9%	220,995	+169.1%	2.08%	+167.4%
MMP	Sell	Magellan Midstream Partners	$5,352,589,000	-6.2%	79,040	-4.3%	1.85%	-7.1%
OKE	Sell	ONEOK	$5,349,076,000	-6.3%	78,907	-3.5%	1.85%	-7.1%
UNH	Sell	UnitedHealth Group	$5,134,306,000	+8.0%	19,299	-0.4%	1.77%	+7.0%
AAPL	Sell	Apple	$4,497,216,000	+21.3%	19,922	-0.5%	1.55%	+20.2%
QCRH	Sell	QCR Holdings	$4,448,424,000	-14.1%	108,897	-0.2%	1.54%	-14.9%
ARLP	Sell	Alliance Resource Partners	$4,445,384,000	+8.2%	217,911	-2.6%	1.54%	+7.2%
GS	Sell	Goldman Sachs	$4,261,233,000	+1.3%	19,003	-0.3%	1.47%	+0.3%
TRGP	Sell	Targa Resources Corp	$4,109,410,000	+8.7%	72,978	-4.5%	1.42%	+7.7%
HD	Sell	Home Depot	$4,083,548,000	+5.7%	19,713	-0.5%	1.41%	+4.7%
ENLK	Sell	EnLink Midstream Partners	$4,044,917,000	+13.4%	217,002	-5.5%	1.40%	+12.3%
MMM	Sell	3M	$3,988,319,000	+6.8%	18,928	-0.3%	1.38%	+5.8%
NGL	Sell	NGL Energy Partners	$3,943,161,000	-9.2%	339,928	-2.1%	1.36%	-10.0%
BANC	Sell	Banc of California	$3,765,462,000	-3.8%	199,231	-0.5%	1.30%	-4.8%
SBFG	Sell	SB Financial Group	$3,744,970,000	+0.1%	184,028	-0.0%	1.29%	-0.8%
EQM	New	EQT Midstream Partners	$3,561,225,000	–	67,473	–	1.23%	–
	Sell	EZCorpconv bond	$3,395,257,000	-2.9%	3,435,000	-0.6%	1.17%	-3.9%
MPLX	Sell	MPLX	$3,386,963,000	-3.6%	97,663	-5.1%	1.17%	-4.5%
MCD	Sell	McDonald's	$3,385,113,000	+6.4%	20,235	-0.3%	1.17%	+5.4%
EPD	Sell	Enterprise Products Partners	$3,382,929,000	-1.1%	117,749	-4.7%	1.17%	-2.0%
	Sell	Chesapeake Energyconv bond	$3,289,208,000	-3.5%	3,330,000	-0.7%	1.14%	-4.5%
	Buy	PDL Biopharmaconv bond	$3,217,213,000	+114.0%	3,260,000	+98.8%	1.11%	+112.0%
JNJ	Sell	Johnson & Johnson	$2,948,824,000	+13.6%	21,342	-0.3%	1.02%	+12.5%
CVX	Sell	Chevron Corporation	$2,930,710,000	-3.5%	23,967	-0.2%	1.01%	-4.4%
IBM	Sell	IBM	$2,897,184,000	+7.9%	19,160	-0.3%	1.00%	+6.8%
CAT	Sell	Caterpillar	$2,895,023,000	+12.0%	18,985	-0.3%	1.00%	+11.0%
SLMNP	Sell	A Schulmannconv pref	$2,893,215,000	-6.1%	2,886	-1.2%	1.00%	-7.0%
NMIH	Sell	NMI Holdings	$2,848,804,000	+37.4%	125,775	-1.1%	0.98%	+36.1%
V	Sell	Visa	$2,849,158,000	+13.0%	18,983	-0.3%	0.98%	+11.9%
AM	Sell	Antero Midstream Partners	$2,758,496,000	-7.3%	96,249	-4.6%	0.95%	-8.2%
UTX	Sell	United Technologies	$2,646,324,000	+11.5%	18,928	-0.3%	0.91%	+10.4%
PSXP	Sell	Phillips 66 Partners	$2,593,854,000	-4.6%	50,721	-4.7%	0.90%	-5.5%
TLP	Sell	Transmontaigne Partners	$2,583,543,000	-1.5%	67,105	-5.7%	0.89%	-2.4%
JPM	Sell	JPMorgan Chase	$2,572,526,000	+7.6%	22,798	-0.7%	0.89%	+6.5%
TGP	Buy	Teekay LNG Partners	$2,544,612,000	+1.7%	152,372	+2.6%	0.88%	+0.8%
	Sell	GNC Holdingsconv bond	$2,533,300,000	+16.2%	3,290,000	-0.3%	0.88%	+15.1%
HEP	Sell	Holly Energy Partners	$2,505,537,000	+5.3%	79,642	-5.4%	0.86%	+4.3%
SMMF	Buy	Summit Financial Group	$2,489,631,000	-13.5%	107,265	+0.0%	0.86%	-14.3%
TRV	Sell	Travelers Companies	$2,481,223,000	+5.7%	19,129	-0.3%	0.86%	+4.8%
MSFT	Sell	Microsoft Corporation	$2,464,364,000	+15.6%	21,547	-0.3%	0.85%	+14.5%
GEL	Sell	Genesis Energy	$2,419,163,000	+4.9%	101,731	-3.4%	0.84%	+3.9%
WTFC	Sell	Wintrust Financial	$2,417,902,000	-4.0%	28,466	-1.6%	0.84%	-4.9%
	Sell	Titan Machineryconv bond	$2,295,304,000	-1.2%	2,327,000	-1.3%	0.79%	-2.1%
DIS	Sell	Walt Disney	$2,285,670,000	+11.2%	19,546	-0.4%	0.79%	+10.0%
DKL	Sell	Delek Logistics Partners	$2,213,026,000	+15.4%	65,089	-6.2%	0.76%	+14.2%
BGEPF	Sell	Bunge Ltdconv pref	$2,142,984,000	-0.9%	19,751	-1.3%	0.74%	-1.9%
FBMS	Sell	First Bancshares	$2,101,515,000	+6.5%	53,816	-2.0%	0.73%	+5.5%
ANDX	Sell	Andeavor Logistics	$2,064,674,000	+7.9%	42,518	-5.5%	0.71%	+6.9%
AXP	Sell	American Express	$2,020,009,000	+8.3%	18,969	-0.3%	0.70%	+7.4%
XOM	Sell	Exxon Mobil	$1,923,237,000	+2.4%	22,621	-0.3%	0.66%	+1.5%
	Buy	Contura Energywarrant	$1,923,740,000	+53.7%	42,280	+14.0%	0.66%	+52.3%
CTRA	Buy	Contura Energy	$1,921,416,000	+154.1%	24,245	+133.1%	0.66%	+151.1%
	Sell	KB HOMEconv bond	$1,892,066,000	-6.5%	1,870,000	-0.8%	0.65%	-7.4%
	New	Encore Capitalconv bond	$1,886,694,000	–	2,040,000	–	0.65%	–
WMT	Sell	Wal-Mart Stores	$1,834,907,000	+9.2%	19,539	-0.4%	0.63%	+8.2%
	Sell	Macquarie Infrastructureconv bond	$1,809,503,000	+0.3%	2,010,000	-1.2%	0.62%	-0.6%
	Sell	Horizon Globalconv bond	$1,764,279,000	+2.6%	2,435,000	-0.8%	0.61%	+1.5%
PG	Sell	Procter & Gamble	$1,735,595,000	+6.3%	20,853	-0.3%	0.60%	+5.3%
	Sell	Atlas Air Worldwideconv bond	$1,731,352,000	-7.1%	1,505,000	-1.0%	0.60%	-8.0%
AYR	Sell	Aircastle LTD	$1,729,948,000	+6.4%	78,957	-0.5%	0.60%	+5.3%
SHLX	Sell	Shell Midstream Partners	$1,656,501,000	-8.6%	77,479	-5.2%	0.57%	-9.5%
CZWI	Sell	Citizens Community Bancorp	$1,619,660,000	-1.4%	115,690	-0.3%	0.56%	-2.4%
CIVB	Sell	Civista Bancshares	$1,619,812,000	-1.0%	67,240	-0.4%	0.56%	-2.1%
NKE	Sell	Nike	$1,603,580,000	+5.9%	18,928	-0.4%	0.55%	+4.9%
HESM	Sell	Hess Midstream	$1,593,393,000	+9.8%	69,855	-5.2%	0.55%	+8.7%
ARCB	Sell	Arcbest Corp	$1,548,502,000	+5.2%	31,895	-1.0%	0.54%	+4.3%
PFBI	Buy	Premier Financial Bancorp	$1,527,266,000	-1.0%	82,600	+0.0%	0.53%	-2.0%
SONA	Buy	Southern National Bancorp of Virginia	$1,522,135,000	-9.2%	93,959	+0.0%	0.53%	-9.9%
PAGP	Sell	Plains GP Holdings	$1,524,129,000	-0.9%	62,133	-3.4%	0.53%	-1.9%
KE	Sell	Kimball Electronics	$1,508,531,000	+6.1%	76,770	-1.2%	0.52%	+5.0%
BPMP	Sell	BP Midstream Partners	$1,504,658,000	-15.3%	80,035	-5.5%	0.52%	-16.0%
	Sell	Acetoconv bond	$1,484,254,000	-1.0%	1,975,000	-0.5%	0.51%	-1.7%
MRK	Sell	Merck	$1,466,614,000	+16.5%	20,674	-0.3%	0.51%	+15.3%
	Sell	Global Eagle Entertainmentconv bond	$1,451,033,000	+1.8%	1,975,000	-1.2%	0.50%	+0.8%
	Sell	Navistar Intlconv bond	$1,425,624,000	-2.1%	1,430,000	-1.0%	0.49%	-3.0%
ONB	Buy	Old National Bancorp	$1,400,106,000	+3.8%	72,544	+0.0%	0.48%	+2.8%
C	Buy	Citigroup	$1,396,706,000	+10.9%	19,469	+3.5%	0.48%	+9.8%
WBA	Sell	Walgreens Boots Alliance	$1,379,851,000	+21.1%	18,928	-0.3%	0.48%	+19.9%
UIS	Sell	Unisys Corp	$1,343,952,000	+56.6%	65,880	-1.0%	0.46%	+55.2%
DWDP	Sell	DowDuPont	$1,273,141,000	-2.7%	19,797	-0.3%	0.44%	-3.5%
CVLY	Buy	Codorus Bancorp	$1,254,123,000	+1.8%	40,145	+0.0%	0.43%	+0.9%
	Sell	Sunpower Corp.conv bond	$1,241,655,000	+2.8%	1,525,000	-1.0%	0.43%	+1.9%
BAC	Buy	Bank of America	$1,231,575,000	+4.5%	41,805	+0.0%	0.42%	+3.4%
PEBK	Buy	Peoples Bancorp	$1,225,585,000	-9.9%	42,496	+0.0%	0.42%	-10.8%
PKBK	Sell	Parke Bancorp	$1,188,054,000	-5.4%	52,920	-0.4%	0.41%	-6.4%
AGX	New	Argan Inc	$1,176,910,000	–	27,370	–	0.41%	–
MFSF	Buy	MutualFirst Financial	$1,165,491,000	-2.4%	31,628	+0.0%	0.40%	-3.4%
ENLC	Sell	EnLink Midstream	$1,150,531,000	-0.6%	69,941	-0.6%	0.40%	-1.7%
VZ	Sell	Verizon	$1,142,386,000	+5.8%	21,397	-0.3%	0.39%	+4.8%
PFBX	Sell	Peoples Financial	$1,095,536,000	-6.2%	84,272	-0.1%	0.38%	-7.1%
TALO	New	Talos Energy	$1,095,532,000	–	33,380	–	0.38%	–
UBOH	Buy	United Bancshares	$1,093,111,000	+4.1%	47,734	+0.0%	0.38%	+3.0%
MDC	Sell	MDC Holdings	$1,059,999,000	-5.0%	35,835	-1.1%	0.37%	-5.9%
PFE	Sell	Pfizer	$1,044,591,000	+21.2%	23,703	-0.2%	0.36%	+20.3%
INTC	Sell	Intel Corporation	$1,003,872,000	-5.1%	21,228	-0.3%	0.35%	-6.0%
HVT	Buy	Haverty Furniture	$983,295,000	+3.2%	44,493	+0.8%	0.34%	+2.4%
ALSK	Buy	Alaska Communications	$975,800,000	-6.8%	595,000	+0.6%	0.34%	-7.7%
MVBF	Buy	MVB Financial Corp	$959,042,000	-0.2%	53,221	+0.0%	0.33%	-1.2%
MDRIQ	Buy	McDermott International	$959,300,000	-5.5%	52,051	+0.7%	0.33%	-6.5%
CSCO	Sell	Cisco Systems	$951,156,000	+12.7%	19,551	-0.3%	0.33%	+11.6%
LOCO	Sell	El Pollo Loco Holdings	$945,329,000	+8.7%	75,325	-1.2%	0.33%	+7.6%
SUP	Sell	Superior Industries	$942,877,000	-5.7%	55,301	-1.0%	0.33%	-6.6%
KO	Sell	Coca-Cola	$935,578,000	+5.0%	20,255	-0.3%	0.32%	+3.9%
	New	Teekay Corpconv bond	$910,540,000	–	1,000,000	–	0.31%	–
TGI	Sell	Triumph Group	$905,601,000	+18.1%	38,867	-0.7%	0.31%	+17.2%
	Sell	Royal Goldconv bond	$902,375,000	-5.1%	895,000	-0.6%	0.31%	-6.0%
TK	Sell	Teekay Inc	$904,232,000	-29.5%	134,159	-18.9%	0.31%	-30.2%
EBMT	Buy	Eagle Bancorp	$888,080,000	-6.0%	48,930	+0.0%	0.31%	-6.7%
LGIH	Sell	LGI Homes	$808,188,000	-18.0%	17,036	-0.2%	0.28%	-18.9%
ASRV	Buy	AmeriServ Financial	$798,600,000	+4.9%	185,721	+0.0%	0.28%	+4.2%
KMI	Sell	Kinder Morgan	$751,218,000	-0.4%	42,370	-0.7%	0.26%	-1.5%
RAIL	Sell	FreightCar America	$745,311,000	-5.4%	46,379	-1.2%	0.26%	-6.5%
SD	Sell	SandRidge Energy	$729,540,000	-38.9%	67,115	-0.3%	0.25%	-39.4%
BKS	Sell	Barnes & Noble	$715,082,000	-9.1%	123,290	-0.5%	0.25%	-9.9%
SLYV	Sell	SPDR S&P 600 Small Cap Value	$708,724,000	-0.8%	10,381	-2.9%	0.24%	-1.6%
UNIT	Buy	Uniti Group	$702,328,000	+0.9%	34,855	+0.3%	0.24%	0.0%
STI	Buy	SunTrust Banks	$660,955,000	+1.2%	9,896	+0.0%	0.23%	0.0%
HWBK	Buy	Hawthorn Bancshares	$619,392,000	+12.0%	27,226	+7.8%	0.21%	+10.9%
CFG	Buy	Citizens Financial Group	$615,215,000	-0.8%	15,951	+0.0%	0.21%	-1.9%
	Sell	Invensenseconv bond	$538,328,000	-0.9%	560,000	-0.9%	0.19%	-1.6%
FUSB	Buy	First US Bancshares	$501,761,000	+64.1%	46,245	+76.2%	0.17%	+61.7%
EGY	New	Vaalco Energy	$477,750,000	–	175,000	–	0.16%	–
HFBC	Buy	HopFed Bancorp	$379,466,000	+5.6%	21,684	+0.0%	0.13%	+4.8%
GNK	Sell	Genco Shipping	$373,548,000	-10.7%	26,681	-1.1%	0.13%	-11.6%
LCI	Sell	Lannett Company	$247,276,000	-65.5%	52,058	-1.1%	0.08%	-66.0%
ET	Buy	Energy Transfer Equity	$217,429,000	+1.2%	12,474	+0.1%	0.08%	0.0%
GE	Buy	General Electric Company	$206,474,000	-17.0%	18,288	+0.0%	0.07%	-18.4%
T	Buy	A T & T	$169,075,000	+4.6%	5,035	+0.0%	0.06%	+3.6%
ETP	Sell	Energy Transfer Partners	$137,678,000	+7.0%	6,185	-8.5%	0.05%	+6.7%
	Sell	Horsehead Holdingswarrant	$135,826,000	-11.3%	3,396	-0.2%	0.05%	-11.3%
IRDM	Sell	Iridium Communications	$125,933,000	-97.3%	5,597	-98.0%	0.04%	-97.3%
TALOWS	New	Talos Energywarrant	$125,807,000	–	27,772	–	0.04%	–
TISUQ	New	Orchids Paper Products	$90,750,000	–	27,500	–	0.03%	–
SEMG	Sell	SemGroup Corp	$47,694,000	-22.0%	2,163	-10.1%	0.02%	-23.8%
F	New	Ford Motor	$22,733,000	–	2,458	–	0.01%	–
CHK	Buy	Chesapeake Energy	$19,006,000	+62.4%	4,233	+89.6%	0.01%	+75.0%
	Buy	Chesapeake Energyconv pref	$13,230,000	+5.8%	21	+5.0%	0.01%	+25.0%
RCII	Sell	Rent-A-Center	$8,269,000	-99.0%	575	-99.0%	0.00%	-98.9%
TNK	Buy	Teekay Tankers	$9,977,000	-14.7%	10,100	+1.0%	0.00%	-25.0%
PYXSQ	New	Pyxus International	$4,600,000	–	200	–	0.00%	–
PTQEP	Sell	PetroQuest Energyconv pref	$2,964,000	-97.9%	59,277	-1.7%	0.00%	-97.9%
AOI	Exit	Alliance One International	$0	–	-200	–	-0.00%	–
RASF	Exit	RAIT Financial	$0	–	-43,250	–	-0.00%	–
UCBI	Exit	United Community Banks	$0	–	-220	–	-0.00%	–
MTH	Exit	Meritage Homes Corporation	$0	–	-100	–	-0.00%	–
DHI	Exit	DR Horton	$0	–	-250	–	-0.00%	–
VRX	Exit	Valeant Pharmaceuticals	$0	–	-450	–	-0.00%	–
WEBC	Exit	Webco Industries	$0	–	-100	–	-0.00%	–
AAMRQ	Exit	American Airlines Group	$0	–	-11,453	–	-0.01%	–
EOG	Exit	EOG Resources	$0	–	-250	–	-0.01%	–
MO	Exit	Altria Group	$0	–	-959	–	-0.02%	–
IJH	Exit	iShares Core S&P MidCap 400	$0	–	-404	–	-0.03%	–
EEM	Exit	iShares MSCI Emerging Markets	$0	–	-7,615	–	-0.12%	–
IYF	Exit	iShares DJ US Financial Sector	$0	–	-4,774	–	-0.20%	–
XRM	Exit	Xerium Technologies	$0	–	-80,270	–	-0.37%	–
IRDMB	Exit	Iridium Communicationsconv pref	$0	–	-3,000	–	-0.57%	–
	Exit	General Cableconv bond	$0	–	-1,615,000	–	-0.60%	–
RMP	Exit	Rice Midstream Partners	$0	–	-214,979	–	-1.28%	–
WPZ	Exit	Williams Partners	$0	–	-98,008	–	-1.39%	–

Q2 2018

			Value		Shares		↓ Weighting
DIA	New	SPDR Dow Jones Industrial	$9,071,849,000	–	37,374	–	3.16%	–
BA	New	Boeing	$6,691,076,000	–	19,943	–	2.33%	–
MMP	New	Magellan Midstream Partners	$5,704,488,000	–	82,578	–	1.99%	–
OKE	New	ONEOK	$5,707,101,000	–	81,729	–	1.99%	–
QCRH	New	QCR Holdings	$5,177,806,000	–	109,121	–	1.80%	–
EFA	New	iShares MSCI EAFE Index	$5,161,311,000	–	77,069	–	1.80%	–
UNH	New	UnitedHealth Group	$4,753,463,000	–	19,375	–	1.66%	–
IRDM	New	Iridium Communications	$4,596,276,000	–	285,483	–	1.60%	–
NGL	New	NGL Energy Partners	$4,341,209,000	–	347,297	–	1.51%	–
GS	New	Goldman Sachs	$4,204,726,000	–	19,063	–	1.47%	–
ARLP	New	Alliance Resource Partners	$4,107,317,000	–	223,832	–	1.43%	–
WPZ	New	Williams Partners	$3,978,145,000	–	98,008	–	1.39%	–
BANC	New	Banc of California	$3,915,494,000	–	200,281	–	1.36%	–
HD	New	Home Depot	$3,865,126,000	–	19,811	–	1.35%	–
TRGP	New	Targa Resources Corp	$3,782,141,000	–	76,422	–	1.32%	–
SBFG	New	SB Financial	$3,740,733,000	–	184,091	–	1.30%	–
MMM	New	3M	$3,735,319,000	–	18,988	–	1.30%	–
AAPL	New	Apple	$3,707,513,000	–	20,029	–	1.29%	–
RMP	New	Rice Midstream Partners	$3,658,943,000	–	214,979	–	1.28%	–
ENLK	New	EnLink Midstream Partners	$3,567,272,000	–	229,702	–	1.24%	–
MPLX	New	MPLX	$3,513,822,000	–	102,924	–	1.22%	–
	New	EZCorpconv bond	$3,497,393,000	–	3,455,000	–	1.22%	–
EPD	New	Enterprise Products	$3,420,040,000	–	123,601	–	1.19%	–
	New	Chesapeake Energyconv bond	$3,409,653,000	–	3,355,000	–	1.19%	–
MCD	New	McDonald's	$3,180,024,000	–	20,295	–	1.11%	–
SLMNP	New	A Schulmann & Coconv pref	$3,081,655,000	–	2,921	–	1.07%	–
CVX	New	Chevron Corporation	$3,037,602,000	–	24,026	–	1.06%	–
AM	New	Antero Midstream Partners LP	$2,977,210,000	–	100,854	–	1.04%	–
SMMF	New	Summit Financial Group	$2,878,939,000	–	107,263	–	1.00%	–
PSXP	New	Phillips 66 Partners	$2,718,629,000	–	53,244	–	0.95%	–
IBM	New	IBM	$2,684,894,000	–	19,219	–	0.94%	–
TLP	New	Transmontaigne Partners	$2,622,050,000	–	71,174	–	0.91%	–
JNJ	New	Johnson & Johnson	$2,596,797,000	–	21,401	–	0.90%	–
CAT	New	Caterpillar	$2,583,835,000	–	19,045	–	0.90%	–
V	New	Visa	$2,522,245,000	–	19,043	–	0.88%	–
WTFC	New	Wintrust Financial	$2,517,747,000	–	28,923	–	0.88%	–
TGP	New	Teekay LNG Partners	$2,501,955,000	–	148,484	–	0.87%	–
JPM	New	JPMorgan	$2,391,598,000	–	22,952	–	0.83%	–
HEP	New	Holly Energy Partners	$2,379,238,000	–	84,191	–	0.83%	–
UTX	New	United Technologies	$2,374,070,000	–	18,988	–	0.83%	–
TRV	New	Travelers Companies	$2,347,460,000	–	19,188	–	0.82%	–
	New	Titan Machineryconv bond	$2,323,172,000	–	2,357,000	–	0.81%	–
GEL	New	Genesis Energy	$2,306,269,000	–	105,261	–	0.80%	–
WMB	New	Williams Companies	$2,226,070,000	–	82,112	–	0.78%	–
	New	GNC Holdingsconv bond	$2,180,063,000	–	3,300,000	–	0.76%	–
BGEPF	New	Bungeconv pref	$2,161,620,000	–	20,015	–	0.75%	–
MSFT	New	Microsoft Corporation	$2,132,172,000	–	21,622	–	0.74%	–
NMIH	New	NMI Holdings	$2,073,442,000	–	127,205	–	0.72%	–
DIS	New	Walt Disney	$2,055,884,000	–	19,615	–	0.72%	–
	New	KB HOMEconv bond	$2,022,982,000	–	1,885,000	–	0.70%	–
FBMS	New	First Bancshares	$1,974,050,000	–	54,911	–	0.69%	–
DKL	New	Delek Logistics Partners	$1,918,053,000	–	69,369	–	0.67%	–
ANDX	New	Andeavor Logistics LP	$1,913,722,000	–	44,997	–	0.67%	–
XOM	New	Exxon Mobil	$1,877,309,000	–	22,692	–	0.65%	–
	New	Atlas Air Worldwide Holdingsconv bond	$1,863,338,000	–	1,520,000	–	0.65%	–
AXP	New	American Express Company	$1,864,842,000	–	19,029	–	0.65%	–
SHLX	New	Shell Midstream Partners	$1,812,860,000	–	81,734	–	0.63%	–
	New	Macquarie Infrastructureconv bond	$1,803,417,000	–	2,035,000	–	0.63%	–
BPMP	New	BP Midstream Partners	$1,777,118,000	–	84,665	–	0.62%	–
	New	Horizon Globalconv bond	$1,720,341,000	–	2,455,000	–	0.60%	–
	New	General Cableconv bond	$1,712,223,000	–	1,615,000	–	0.60%	–
WMT	New	Wal-Mart Stores	$1,680,110,000	–	19,616	–	0.59%	–
SONA	New	Southern National Bancorp	$1,676,215,000	–	93,958	–	0.58%	–
IRDMB	New	Iridium Communicationsconv pref	$1,644,690,000	–	3,000	–	0.57%	–
CZWI	New	Citizens Community Bancorp	$1,642,603,000	–	116,085	–	0.57%	–
CIVB	New	Civista Bancshares	$1,636,830,000	–	67,526	–	0.57%	–
PG	New	Procter & Gamble	$1,632,469,000	–	20,913	–	0.57%	–
AYR	New	Aircastle LTD	$1,626,429,000	–	79,338	–	0.57%	–
PFBI	New	Premier Financial Bancorp	$1,542,014,000	–	82,593	–	0.54%	–
PAGP	New	Plains GP Holdings	$1,538,328,000	–	64,338	–	0.54%	–
FUNC	New	First United Corp	$1,535,509,000	–	75,086	–	0.54%	–
FCCO	New	First Community Corp	$1,527,963,000	–	60,875	–	0.53%	–
NKE	New	Nike	$1,513,920,000	–	19,000	–	0.53%	–
	New	PDL Biopharmaconv bond	$1,503,691,000	–	1,640,000	–	0.52%	–
	New	Aceto Corpconv bond	$1,498,677,000	–	1,985,000	–	0.52%	–
ARCB	New	Arcbest	$1,471,997,000	–	32,210	–	0.51%	–
	New	Navistar Intlconv bond	$1,455,780,000	–	1,445,000	–	0.51%	–
HESM	New	Hess Midstream Partners	$1,451,792,000	–	73,695	–	0.51%	–
	New	Global Eagle Entertainmentconv bond	$1,424,800,000	–	2,000,000	–	0.50%	–
KE	New	Kimball Electronics	$1,421,599,000	–	77,683	–	0.50%	–
PEBK	New	Peoples Bancorp	$1,360,987,000	–	42,491	–	0.47%	–
ONB	New	Old National Bancorp	$1,349,245,000	–	72,540	–	0.47%	–
DWDP	New	DowDuPont	$1,308,970,000	–	19,857	–	0.46%	–
TK	New	Teekay Inc	$1,281,703,000	–	165,381	–	0.45%	–
C	New	Citigroup	$1,259,367,000	–	18,819	–	0.44%	–
MRK	New	Merck	$1,258,554,000	–	20,734	–	0.44%	–
PKBK	New	Parke Bancorp	$1,256,406,000	–	53,125	–	0.44%	–
	New	Contura Energywarrant	$1,251,450,000	–	37,080	–	0.44%	–
CVLY	New	Codorus Bancorp	$1,231,625,000	–	40,144	–	0.43%	–
	New	Sunpower Corpconv bond	$1,207,822,000	–	1,540,000	–	0.42%	–
MFSF	New	MutualFirst Financial	$1,193,937,000	–	31,627	–	0.42%	–
SD	New	SandRidge Energy	$1,194,168,000	–	67,315	–	0.42%	–
BAC	New	Bank of America	$1,178,314,000	–	41,799	–	0.41%	–
PFBX	New	Peoples Financial	$1,168,400,000	–	84,361	–	0.41%	–
ESSA	New	Essa Bancorp	$1,161,146,000	–	73,351	–	0.40%	–
ENLC	New	EnLink Midstream LLC	$1,157,835,000	–	70,385	–	0.40%	–
TRCB	New	Two River Bancorp	$1,155,113,000	–	60,382	–	0.40%	–
OPB	New	Opus Bank	$1,150,009,000	–	40,070	–	0.40%	–
WBA	New	Walgreens Boots	$1,139,565,000	–	18,988	–	0.40%	–
MDC	New	MDC Holdings	$1,115,259,000	–	36,245	–	0.39%	–
VZ	New	Verizon Communications	$1,079,502,000	–	21,457	–	0.38%	–
XRM	New	Xerium Technologies	$1,062,781,000	–	80,270	–	0.37%	–
INTC	New	Intel Corporation	$1,058,226,000	–	21,288	–	0.37%	–
UBOH	New	United Bancshares	$1,050,136,000	–	47,733	–	0.37%	–
ALSK	New	Alaska Communications	$1,046,451,000	–	591,215	–	0.36%	–
MDRIQ	New	McDermott International	$1,015,335,000	–	51,671	–	0.35%	–
HMNF	New	HMN Financial	$1,004,498,000	–	49,975	–	0.35%	–
SUP	New	Superior Industries	$999,781,000	–	55,854	–	0.35%	–
LGIH	New	LGI Homes	$985,451,000	–	17,070	–	0.34%	–
MVBF	New	MVB Financial	$960,567,000	–	53,217	–	0.34%	–
HVT	New	Haverty Furniture	$953,014,000	–	44,121	–	0.33%	–
	New	Royal Goldconv bond	$951,039,000	–	900,000	–	0.33%	–
EBMT	New	Eagle Bancorp Montana	$944,272,000	–	48,926	–	0.33%	–
KO	New	Coca-Cola	$891,016,000	–	20,315	–	0.31%	–
LOCO	New	El Pollo Loco Holdings	$869,364,000	–	76,260	–	0.30%	–
PFE	New	Pfizer	$861,940,000	–	23,758	–	0.30%	–
UIS	New	Unisys Corp	$858,237,000	–	66,530	–	0.30%	–
	New	Sunpower Corpconv bond	$844,090,000	–	1,000,000	–	0.29%	–
CSCO	New	Cisco Systems	$843,861,000	–	19,611	–	0.29%	–
FMCKI	New	Freddie Macpref stk	$811,199,000	–	155,105	–	0.28%	–
RCII	New	Rent-A-Center	$806,141,000	–	54,765	–	0.28%	–
RAIL	New	FreightCar America	$787,904,000	–	46,927	–	0.28%	–
BKS	New	Barnes & Noble	$787,051,000	–	123,945	–	0.27%	–
SHYG	New	iShares 0-5 Yr High Yield Corporate	$776,456,000	–	16,655	–	0.27%	–
ZION	New	Zions Bancorp	$770,907,000	–	14,631	–	0.27%	–
TGI	New	Triumph Group	$767,046,000	–	39,135	–	0.27%	–
ASRV	New	AmeriServ Financial	$761,447,000	–	185,719	–	0.26%	–
CTRA	New	Contura Energy	$756,080,000	–	10,400	–	0.26%	–
KMI	New	Kinder Morgan	$754,146,000	–	42,679	–	0.26%	–
LCI	New	Lannett Company	$715,931,000	–	52,642	–	0.25%	–
SLYV	New	SPDR S&P 600 Small Cap Value	$714,156,000	–	10,693	–	0.25%	–
UNIT	New	Uniti Group	$696,143,000	–	34,755	–	0.24%	–
STI	New	SunTrust Banks	$653,182,000	–	9,894	–	0.23%	–
CFG	New	Citizens Financial Group	$620,455,000	–	15,950	–	0.22%	–
	New	Homestreet Inc	$607,453,000	–	22,540	–	0.21%	–
STL	New	Sterling Bancorp	$582,119,000	–	24,771	–	0.20%	–
IYF	New	iShares DJ US Financial Sector	$559,465,000	–	4,774	–	0.20%	–
HWBK	New	Hawthorn Bancshares	$552,953,000	–	25,249	–	0.19%	–
	New	Invensenseconv bond	$543,135,000	–	565,000	–	0.19%	–
AAL	New	American Airlines Group	$530,833,000	–	13,984	–	0.18%	–
CVCY	New	Central Valley Community Bancorp	$527,773,000	–	24,942	–	0.18%	–
GNK	New	Genco Shipping	$418,361,000	–	26,990	–	0.15%	–
HFBC	New	HopFed Bancorp	$359,507,000	–	21,683	–	0.12%	–
MSL	New	Midsouth Bancorp	$346,223,000	–	26,130	–	0.12%	–
MOFG	New	MidWest One Financial	$345,536,000	–	10,229	–	0.12%	–
EEM	New	iShares MSCI Emerging Markets	$329,958,000	–	7,615	–	0.12%	–
FITB	New	Fifth Third Bancorp	$323,593,000	–	11,275	–	0.11%	–
PAA	New	Plains All American Pipeline	$310,464,000	–	13,133	–	0.11%	–
FUSB	New	First US Bancshares	$305,696,000	–	26,240	–	0.11%	–
NM	New	Navios Maritime Holdings	$296,282,000	–	347,790	–	0.10%	–
	New	Bank of Americawarrant	$293,760,000	–	18,000	–	0.10%	–
FCCY	New	1st Constitution Bancorp	$284,968,000	–	12,444	–	0.10%	–
GE	New	General Electric	$248,790,000	–	18,280	–	0.09%	–
ZIONW	New	Zions Bancorpwarrant	$242,341,000	–	11,938	–	0.08%	–
ET	New	Energy Transfer Equity	$214,911,000	–	12,459	–	0.08%	–
BHLB	New	Berkshire Hills Bancorp	$207,019,000	–	5,099	–	0.07%	–
BX	New	Blackstone Group	$192,537,000	–	5,985	–	0.07%	–
APO	New	Apollo Global Management LLC	$191,857,000	–	6,020	–	0.07%	–
KKR	New	KKR & Co	$169,601,000	–	6,825	–	0.06%	–
CG	New	Carlyle Group	$166,247,000	–	7,805	–	0.06%	–
T	New	A T & T	$161,610,000	–	5,033	–	0.06%	–
OAK	New	Oaktree Capital	$155,080,000	–	3,815	–	0.05%	–
	New	Horsehead Holdingswarrant	$153,120,000	–	3,403	–	0.05%	–
TIP	New	iShares Barclays TIPS Bond	$152,760,000	–	1,353	–	0.05%	–
PTQEP	New	PetroQuest Energyconv pref	$138,764,000	–	60,332	–	0.05%	–
BACWSB	New	Bank of Americawarrant	$131,531,000	–	215,625	–	0.05%	–
ETP	New	Energy Transfer Partners	$128,691,000	–	6,759	–	0.04%	–
FNB	New	FNB Corporation	$113,318,000	–	8,444	–	0.04%	–
WPX	New	WPX Energy	$83,473,000	–	4,630	–	0.03%	–
IJH	New	iShares Core S&P MidCap 400	$78,756,000	–	404	–	0.03%	–
BBT	New	BB&T Corporation	$72,785,000	–	1,443	–	0.02%	–
SEMG	New	SemGroup Corp	$61,138,000	–	2,407	–	0.02%	–
MO	New	Altria Group	$54,440,000	–	959	–	0.02%	–
HA	New	Hawaiian Holdings	$46,052,000	–	1,281	–	0.02%	–
TSBK	New	Timberland Bancorp	$37,340,000	–	1,000	–	0.01%	–
EZPW	New	EZCORP Inc.	$36,933,000	–	3,065	–	0.01%	–
BACPRL	New	Bank of Americaconv pref	$36,265,000	–	29	–	0.01%	–
EOG	New	EOG Resources	$31,108,000	–	250	–	0.01%	–
TOO	New	Teekay Offshore Partners	$24,438,000	–	9,257	–	0.01%	–
UMPQ	New	Umpqua Holdings	$22,590,000	–	1,000	–	0.01%	–
AGM	New	Federal Agricultural Mortgage	$22,370,000	–	250	–	0.01%	–
CWSA	New	Citigroupwarrant	$20,663,000	–	1,653,040	–	0.01%	–
COFS	New	Choiceone Financial Services	$15,855,000	–	604	–	0.01%	–
QEP	New	QEP Resources	$18,390,000	–	1,500	–	0.01%	–
NMM	New	Navios Maritime Partners	$17,199,000	–	9,100	–	0.01%	–
HCRSQ	New	Hi Crush Partners	$16,520,000	–	1,400	–	0.01%	–
AAMRQ	New	American Airlines Group	$15,462,000	–	11,453	–	0.01%	–
M	New	Macy's	$14,972,000	–	400	–	0.01%	–
GM	New	General Motors	$15,760,000	–	400	–	0.01%	–
VRX	New	Valeant Pharmaceuticals	$10,458,000	–	450	–	0.00%	–
DHI	New	DR Horton	$10,250,000	–	250	–	0.00%	–
WEBC	New	Webco Industries	$10,800,000	–	100	–	0.00%	–
FNMAS	New	Fannie Maepref stk	$12,640,000	–	2,000	–	0.00%	–
	New	Chesapeake Energyconv pref	$12,500,000	–	20	–	0.00%	–
STX	New	Seagate Technology	$11,294,000	–	200	–	0.00%	–
CHK	New	Chesapeake Energy Corporation	$11,701,000	–	2,233	–	0.00%	–
TNK	New	Teekay Tankers	$11,700,000	–	10,000	–	0.00%	–
TOL	New	Toll Brothers	$7,398,000	–	200	–	0.00%	–
JNEEP	New	Jones Energyconv pref	$7,229,000	–	600	–	0.00%	–
AKS	New	AK Steel	$6,510,000	–	1,500	–	0.00%	–
UCBI	New	United Community Banks	$6,747,000	–	220	–	0.00%	–
NNA	New	Navios Maritime Acquisition	$6,710,000	–	11,000	–	0.00%	–
MTH	New	Meritage Homes Corporation	$4,395,000	–	100	–	0.00%	–
SWN	New	Southwestern Energy	$5,300,000	–	1,000	–	0.00%	–
GNKWF	New	Genco Shippingwarrant	$2,155,000	–	2,155	–	0.00%	–
AOI	New	Alliance One International	$3,170,000	–	200	–	0.00%	–
RASF	New	RAIT Financial	$4,195,000	–	43,250	–	0.00%	–
SPWR	New	SunPower Corporation	$1,810,000	–	236	–	0.00%	–
PQ	New	PetroQuest Energy	$570,000	–	2,500	–	0.00%	–
SDRDW	New	Sandridge Energywarrant	$1,047,000	–	4,028	–	0.00%	–

Q4 2017

			Value		Shares		↓ Weighting
JONE	Exit	Jones Energy	$0	–	-522	–	0.00%	–
SPWR	Exit	SunPower	$0	–	-236	–	-0.00%	–
BWP	Exit	Boardwalk Pipeline Partners	$0	–	-200	–	-0.00%	–
PSTB	Exit	Park Sterling Corp	$0	–	-164	–	-0.00%	–
PESXQ	Exit	Pioneer Energy Services	$0	–	-1,050	–	-0.00%	–
AOI	Exit	Alliance One International	$0	–	-200	–	-0.00%	–
PQ	Exit	PetroQuest Energy	$0	–	-2,500	–	-0.00%	–
SWN	Exit	Southwestern Energy Company	$0	–	-1,000	–	-0.00%	–
HBAN	Exit	Huntington Bancshares	$0	–	-407	–	-0.00%	–
MTH	Exit	Meritage Homes Corporation	$0	–	-100	–	-0.00%	–
UCBI	Exit	United Community Banks	$0	–	-220	–	-0.00%	–
EMESQ	Exit	Emerge Energy Services	$0	–	-850	–	-0.00%	–
AKS	Exit	AK Steel	$0	–	-1,500	–	-0.00%	–
TOL	Exit	Toll Brothers	$0	–	-200	–	-0.00%	–
WEBC	Exit	Webco Industries	$0	–	-100	–	-0.00%	–
DHI	Exit	DR Horton	$0	–	-250	–	-0.00%	–
GNKWF	Exit	Genco Shipping	$0	–	-62,155	–	-0.00%	–
CHK	Exit	Chesapeake Energy	$0	–	-2,206	–	-0.00%	–
QEP	Exit	QEP Resources	$0	–	-1,500	–	-0.01%	–
NNA	Exit	Navios Maritime Acquisition	$0	–	-11,000	–	-0.01%	–
FNMAS	Exit	Fannie Maepref stk	$0	–	-2,000	–	-0.01%	–
COFS	Exit	Choiceone Financial Services	$0	–	-604	–	-0.01%	–
LGIH	Exit	LGI Homes	$0	–	-300	–	-0.01%	–
NMM	Exit	Navios Maritime Partners	$0	–	-8,100	–	-0.01%	–
TNK	Exit	Teekay Tankers	$0	–	-10,000	–	-0.01%	–
UMPQ	Exit	Umpqua Holdings	$0	–	-1,000	–	-0.01%	–
APO	Exit	Apollo Global	$0	–	-635	–	-0.01%	–
STX	Exit	Seagate Technology	$0	–	-600	–	-0.01%	–
TOO	Exit	Teekay Offshore Partners	$0	–	-9,457	–	-0.01%	–
OLN	Exit	Olin Corp	$0	–	-701	–	-0.01%	–
	Exit	Contura Energy	$0	–	-978	–	-0.01%	–
JNEEP	Exit	Jones Energyconv pref	$0	–	-600	–	-0.01%	–
BOKF	Exit	BOK Financial	$0	–	-310	–	-0.01%	–
EOG	Exit	EOG Resources Inc	$0	–	-305	–	-0.01%	–
AGM	Exit	Federal Agricultural Mortgage	$0	–	-400	–	-0.01%	–
TSBK	Exit	Timberland Bancorp	$0	–	-1,000	–	-0.01%	–
BACPRL	Exit	Bank of Americaconv pref	$0	–	-29	–	-0.01%	–
IWR	Exit	iShares Russell Midcap Index	$0	–	-207	–	-0.02%	–
RASF	Exit	RAIT Financial Trust	$0	–	-54,800	–	-0.02%	–
EZPW	Exit	EZCORP	$0	–	-4,965	–	-0.02%	–
OAK	Exit	Oaktree Capital Group	$0	–	-1,025	–	-0.02%	–
KKR	Exit	KKR & Co	$0	–	-2,560	–	-0.02%	–
CVO	Exit	Cenveo	$0	–	-15,555	–	-0.02%	–
MO	Exit	Altria Group	$0	–	-855	–	-0.02%	–
F	Exit	Ford	$0	–	-4,928	–	-0.02%	–
ARLP	Exit	Alliance Resource Partners	$0	–	-3,300	–	-0.02%	–
BBT	Exit	BB&T Corporation	$0	–	-1,443	–	-0.02%	–
HON	Exit	Honeywell International	$0	–	-500	–	-0.03%	–
SEMG	Exit	SemGroup Corp	$0	–	-2,407	–	-0.03%	–
IJH	Exit	iShares Core S&P MidCap 400 Index	$0	–	-426	–	-0.03%	–
BX	Exit	Blackstone Group	$0	–	-2,250	–	-0.03%	–
HA	Exit	Hawaiian Holdings	$0	–	-3,030	–	-0.04%	–
SCHO	Exit	Schwab Short-Term U.S. Treasury	$0	–	-2,278	–	-0.04%	–
FNB	Exit	F.N.B. Corporation	$0	–	-8,444	–	-0.04%	–
ETP	Exit	Energy Transfer Partners	$0	–	-6,759	–	-0.05%	–
TIP	Exit	iShares Barclays TIPS Bond	$0	–	-1,418	–	-0.06%	–
	Exit	Horsehead Holdings	$0	–	-3,564	–	-0.06%	–
BACWSB	Exit	Bank of America	$0	–	-215,625	–	-0.06%	–
GNK	Exit	Genco Shipping & Trading Ltd.	$0	–	-15,388	–	-0.07%	–
T	Exit	A T & T	$0	–	-4,874	–	-0.07%	–
CWSA	Exit	Citigroup Inc	$0	–	-1,653,040	–	-0.07%	–
BHLB	Exit	Berkshire Hills Bancorp	$0	–	-5,199	–	-0.07%	–
ET	Exit	Energy Transfer Equity	$0	–	-12,809	–	-0.08%	–
FCCY	Exit	1st Constitution Bancorp	$0	–	-12,417	–	-0.08%	–
XRM	Exit	Xerium Technologies	$0	–	-48,347	–	-0.08%	–
	Exit	Bank of America	$0	–	-18,000	–	-0.09%	–
PAA	Exit	Plains All American Pipeline	$0	–	-11,869	–	-0.09%	–
FITB	Exit	Fifth Third Bancorp	$0	–	-11,275	–	-0.12%	–
HFBC	Exit	HopFed Bancorp	$0	–	-21,682	–	-0.12%	–
FCF	Exit	First Commonwealth Financial	$0	–	-22,538	–	-0.12%	–
EEM	Exit	iShares MSCI Emerging Markets Index	$0	–	-7,615	–	-0.13%	–
ZIONW	Exit	Zions Bancorp	$0	–	-22,438	–	-0.13%	–
MOFG	Exit	MidWest One Financial	$0	–	-10,229	–	-0.13%	–
FBNC	Exit	First Bancorp	$0	–	-11,430	–	-0.14%	–
SHYG	Exit	iShares 0-5 Yr High Yield Corporate Bond	$0	–	-8,500	–	-0.15%	–
HWBK	Exit	Hawthorn Bancshares	$0	–	-20,069	–	-0.15%	–
UNIT	Exit	Uniti Group	$0	–	-34,795	–	-0.19%	–
UIS	Exit	Unisys Corp	$0	–	-61,470	–	-0.19%	–
IYF	Exit	iShares DJ US Financial Sector	$0	–	-4,774	–	-0.20%	–
SLYV	Exit	SPDR S&P 600 Small Cap Value	$0	–	-4,264	–	-0.20%	–
RCII	Exit	Rent-A-Center	$0	–	-47,130	–	-0.20%	–
CVCY	Exit	Central Valley Community Bancorp	$0	–	-24,942	–	-0.20%	–
	Exit	RAIT Financialconv bond	$0	–	-610,000	–	-0.21%	–
NM	Exit	Navios Maritime Holdings	$0	–	-341,900	–	-0.21%	–
	Exit	Homestreet	$0	–	-21,770	–	-0.22%	–
STI	Exit	SunTrust Banks	$0	–	-9,993	–	-0.22%	–
CSCO	Exit	Cisco Systems	$0	–	-17,838	–	-0.22%	–
KMI	Exit	Kinder Morgan	$0	–	-32,095	–	-0.23%	–
CTRA	Exit	Contura Energy	$0	–	-10,400	–	-0.23%	–
CFG	Exit	Citizens Financial Group	$0	–	-16,335	–	-0.23%	–
AF	Exit	Astoria Financial	$0	–	-28,935	–	-0.23%	–
AAL	Exit	American Airlines Group	$0	–	-14,127	–	-0.25%	–
ZION	Exit	Zions Bancorp	$0	–	-14,746	–	-0.26%	–
INTC	Exit	Intel Corporation	$0	–	-18,556	–	-0.26%	–
RAIL	Exit	FreightCar America	$0	–	-36,997	–	-0.27%	–
ASRV	Exit	AmeriServ Financial	$0	–	-186,773	–	-0.28%	–
C	Exit	Citigroup	$0	–	-10,464	–	-0.28%	–
	Exit	Invensenseconv bond	$0	–	-775,000	–	-0.28%	–
MVBF	Exit	MVB Financial Corp	$0	–	-41,272	–	-0.29%	–
OGS	Exit	ONE Gas	$0	–	-10,646	–	-0.29%	–
PFE	Exit	Pfizer	$0	–	-22,289	–	-0.29%	–
KO	Exit	Coca-Cola	$0	–	-17,836	–	-0.30%	–
LCI	Exit	Lannett Company	$0	–	-43,887	–	-0.30%	–
FMCKI	Exit	Freddie Mac Ppref stk	$0	–	-148,300	–	-0.30%	–
	Exit	Sunpower Corpconv bond	$0	–	-1,000,000	–	-0.30%	–
GE	Exit	General Electric	$0	–	-34,326	–	-0.31%	–
OPB	Exit	Opus Bank	$0	–	-34,600	–	-0.31%	–
LOCO	Exit	El Pollo Loco Holdings	$0	–	-68,380	–	-0.31%	–
NKE	Exit	Nike	$0	–	-16,469	–	-0.32%	–
SUP	Exit	Superior Industries	$0	–	-52,684	–	-0.32%	–
BKS	Exit	Barnes & Noble Inc.	$0	–	-116,442	–	-0.33%	–
HMNF	Exit	HMN Financial	$0	–	-49,975	–	-0.33%	–
EBMT	Exit	Eagle Bancorp Montana	$0	–	-49,147	–	-0.34%	–
	Exit	Chesapeake Energy Corpconv bond	$0	–	-1,000,000	–	-0.34%	–
VZ	Exit	Verizon Communications	$0	–	-18,993	–	-0.35%	–
ESSA	Exit	Essa Bancorp	$0	–	-62,846	–	-0.36%	–
MDC	Exit	MDC Holdings	$0	–	-30,267	–	-0.37%	–
PKBK	Exit	Parke Bancorp	$0	–	-46,126	–	-0.38%	–
BAC	Exit	Bank of America	$0	–	-40,612	–	-0.38%	–
UBOH	Exit	United Bancshares	$0	–	-46,826	–	-0.39%	–
ARCB	Exit	Arcbest Corp	$0	–	-31,757	–	-0.39%	–
HVT	Exit	Haverty Furniture Company	$0	–	-41,555	–	-0.40%	–
PTQEP	Exit	PetroQuest Energyconv pref	$0	–	-64,182	–	-0.40%	–
IRDMB	Exit	Iridium Communicationsconv pref	$0	–	-3,000	–	-0.40%	–
TGI	Exit	Triumph Group	$0	–	-37,270	–	-0.41%	–
MDR	Exit	McDermott International	$0	–	-152,663	–	-0.41%	–
ENLC	Exit	EnLink Midstream	$0	–	-65,419	–	-0.42%	–
IBCP	Exit	Independent Bank Corp	$0	–	-50,272	–	-0.42%	–
MRK	Exit	Merck & Co	$0	–	-18,207	–	-0.43%	–
CVLY	Exit	Codorus Bancorp	$0	–	-38,736	–	-0.44%	–
DWDP	Exit	DowDuPont	$0	–	-17,318	–	-0.44%	–
TRCB	Exit	Two River Bancorp	$0	–	-60,766	–	-0.44%	–
	Exit	Royal Gold Incconv bond	$0	–	-1,105,000	–	-0.45%	–
CZWI	Exit	Citizens Community Bancorp	$0	–	-87,054	–	-0.45%	–
FUNC	Exit	First United Corp	$0	–	-72,851	–	-0.45%	–
MFSF	Exit	MutualFirst Financial	$0	–	-31,626	–	-0.45%	–
IRDM	Exit	Iridium Communications	$0	–	-118,904	–	-0.45%	–
PFBX	Exit	Peoples Financial Corp	$0	–	-83,458	–	-0.45%	–
FCCO	Exit	First Community Corp	$0	–	-61,490	–	-0.46%	–
SD	Exit	SandRidge Energy	$0	–	-62,615	–	-0.46%	–
	Exit	Jefferies Groupconv bond	$0	–	-1,263,000	–	-0.47%	–
	Exit	Global Eagle Entertainmentconv bond	$0	–	-2,060,000	–	-0.48%	–
ALSK	Exit	Alaska Communications	$0	–	-585,760	–	-0.49%	–
WMT	Exit	Wal-Mart Stores	$0	–	-17,047	–	-0.49%	–
	Exit	Sunpower Corpconv bond	$0	–	-1,730,000	–	-0.50%	–
ONB	Exit	Old National Bancorp	$0	–	-74,207	–	-0.50%	–
PEBK	Exit	Peoples Bancorp of NC	$0	–	-38,771	–	-0.51%	–
TK	Exit	Teekay Inc	$0	–	-155,926	–	-0.51%	–
MSFT	Exit	Microsoft Corporation	$0	–	-19,031	–	-0.52%	–
PFBI	Exit	Premier Financial Bancorp	$0	–	-66,018	–	-0.53%	–
PAGP	Exit	Plains GP Holdings	$0	–	-66,085	–	-0.53%	–
APLP	Exit	Archrock Partners	$0	–	-104,253	–	-0.55%	–
AXP	Exit	American Express Company	$0	–	-16,468	–	-0.55%	–
CIVB	Exit	Civista Bancshares	$0	–	-68,381	–	-0.56%	–
SONA	Exit	Southern National Bancorp of Virginia	$0	–	-93,412	–	-0.59%	–
EFA	Exit	iShares MSCI EAFE Index Fund	$0	–	-23,882	–	-0.60%	–
XOM	Exit	Exxon Mobil	$0	–	-20,019	–	-0.61%	–
PG	Exit	Procter & Gamble	$0	–	-18,104	–	-0.61%	–
FBMS	Exit	First Bancshares	$0	–	-55,491	–	-0.62%	–
DIS	Exit	Walt Disney	$0	–	-17,096	–	-0.62%	–
AYR	Exit	Aircastle LTD	$0	–	-76,954	–	-0.63%	–
KE	Exit	Kimball Electronics	$0	–	-79,330	–	-0.63%	–
NMIH	Exit	NMI Holdings	$0	–	-138,985	–	-0.64%	–
V	Exit	Visa	$0	–	-16,431	–	-0.64%	–
	Exit	General Cable Corpconv bond	$0	–	-2,095,000	–	-0.69%	–
UTX	Exit	United Technologies	$0	–	-16,427	–	-0.70%	–
	Exit	Aceto Corpconv bond	$0	–	-2,165,000	–	-0.71%	–
	Exit	Chesapeake Energyconv pref	$0	–	-3,109	–	-0.72%	–
JPM	Exit	JPMorgan Chase	$0	–	-20,613	–	-0.73%	–
	Exit	Greenbriarconv bond	$0	–	-1,452,000	–	-0.74%	–
TRV	Exit	Travelers Companies	$0	–	-16,530	–	-0.75%	–
CAT	Exit	Caterpillar Inc	$0	–	-16,569	–	-0.76%	–
	Exit	Navistar Intlconv bond	$0	–	-2,005,000	–	-0.77%	–
DKL	Exit	Delek Logistics Partners	$0	–	-68,605	–	-0.79%	–
	Exit	Atlas Air Worldwide Holdingsconv bond	$0	–	-1,805,000	–	-0.80%	–
	Exit	Prospect Capitalconv bond	$0	–	-2,159,000	–	-0.80%	–
IRDDA	Exit	Iridium Communicationsconv pref	$0	–	-19,093	–	-0.80%	–
ANDX	Exit	Andeavor Logistics	$0	–	-43,975	–	-0.81%	–
SHLX	Exit	Shell Midstream Partners	$0	–	-80,072	–	-0.82%	–
	Exit	KB HOMEconv bond	$0	–	-2,115,000	–	-0.82%	–
BGEPF	Exit	Bunge Ltdconv pref	$0	–	-22,190	–	-0.85%	–
	Exit	Broadsoft Incconv bond	$0	–	-1,880,000	–	-0.87%	–
IBM	Exit	International Business Machines	$0	–	-16,558	–	-0.89%	–
WMB	Exit	Williams Companies	$0	–	-81,098	–	-0.90%	–
JNJ	Exit	Johnson & Johnson	$0	–	-18,776	–	-0.90%	–
	Exit	Titan Machineryconv bond	$0	–	-2,492,000	–	-0.90%	–
CVX	Exit	Chevron Corporation	$0	–	-21,745	–	-0.94%	–
TGP	Exit	Teekay LNG Partners	$0	–	-145,459	–	-0.96%	–
GEL	Exit	Genesis Energy	$0	–	-99,699	–	-0.97%	–
WTFC	Exit	Wintrust Financial	$0	–	-33,614	–	-0.97%	–
AAPL	Exit	Apple	$0	–	-17,412	–	-0.99%	–
HEP	Exit	Holly Energy Partners	$0	–	-81,041	–	-1.00%	–
SMMF	Exit	Summit Financial Group	$0	–	-108,007	–	-1.02%	–
MCD	Exit	McDonald's	$0	–	-17,696	–	-1.02%	–
SLMNP	Exit	A Schulmannconv pref	$0	–	-3,117	–	-1.03%	–
HD	Exit	Home Depot	$0	–	-17,250	–	-1.04%	–
PSXP	Exit	Phillips 66 Partners	$0	–	-53,726	–	-1.04%	–
	Exit	Macquarie Infrastructureconv bond	$0	–	-2,995,000	–	-1.07%	–
TLP	Exit	Transmontaigne Partners	$0	–	-70,086	–	-1.10%	–
SBFG	Exit	SB Financial Group	$0	–	-179,944	–	-1.14%	–
EPD	Exit	Enterprise Products Partners	$0	–	-120,518	–	-1.16%	–
AM	Exit	Antero Midstream	$0	–	-101,019	–	-1.18%	–
UNH	Exit	UnitedHealth Group	$0	–	-16,717	–	-1.21%	–
MPLX	Exit	MPLX	$0	–	-97,933	–	-1.27%	–
MMM	Exit	3M Co	$0	–	-16,427	–	-1.27%	–
TRGP	Exit	Targa Resources Corp	$0	–	-76,041	–	-1.33%	–
	Exit	EZCorp Incconv bond	$0	–	-3,700,000	–	-1.33%	–
ENLK	Exit	EnLink Midstream Partners	$0	–	-222,547	–	-1.38%	–
WPZ	Exit	Williams Partners	$0	–	-98,328	–	-1.41%	–
GS	Exit	Goldman Sachs	$0	–	-16,451	–	-1.44%	–
NGL	Exit	NGL Energy Partners	$0	–	-345,422	–	-1.47%	–
	Exit	Alaska Communicationsconv bond	$0	–	-3,940,000	–	-1.49%	–
BANC	Exit	Banc of California	$0	–	-197,924	–	-1.52%	–
AHGP	Exit	Alliance Holdings	$0	–	-150,102	–	-1.54%	–
BA	Exit	Boeing	$0	–	-17,432	–	-1.64%	–
RMP	Exit	Rice Midstream Partners	$0	–	-213,759	–	-1.65%	–
OKE	Exit	ONEOK	$0	–	-83,384	–	-1.71%	–
QCRH	Exit	QCR Holdings	$0	–	-112,798	–	-1.90%	–
MMP	Exit	Magellan Midstream Partners	$0	–	-81,908	–	-2.15%	–
DIA	Exit	SPDR Dow Jones Industrial Average	$0	–	-37,837	–	-3.13%	–

Q3 2017

			Value		Shares		↓ Weighting
DIA	Buy	SPDR Dow Jones Industrial Average	$8,468,599,000	+8.1%	37,837	+3.0%	3.13%	+2.7%
MMP	Buy	Magellan Midstream Partners	$5,820,383,000	+0.3%	81,908	+0.6%	2.15%	-4.7%
QCRH	Sell	QCR Holdings	$5,132,316,000	-4.8%	112,798	-0.8%	1.90%	-9.5%
OKE	Buy	ONEOK	$4,620,313,000	+6.8%	83,384	+0.5%	1.71%	+1.5%
RMP	Sell	Rice Midstream Partners	$4,476,113,000	+4.7%	213,759	-0.3%	1.65%	-0.5%
BA	Buy	Boeing	$4,431,389,000	+37.4%	17,432	+6.9%	1.64%	+30.6%
AHGP	Buy	Alliance Holdings	$4,174,337,000	+27.0%	150,102	+8.2%	1.54%	+20.7%
BANC	Buy	Banc of California	$4,106,918,000	-3.0%	197,924	+0.5%	1.52%	-7.8%
	Sell	Alaska Communicationsconv bond	$4,038,500,000	-1.7%	3,940,000	-0.5%	1.49%	-6.6%
NGL	Sell	NGL Energy Partners	$3,989,621,000	-17.7%	345,422	-0.3%	1.47%	-21.9%
GS	Buy	Goldman Sachs	$3,902,013,000	+14.3%	16,451	+6.9%	1.44%	+8.6%
WPZ	Buy	Williams Partners	$3,824,959,000	+3262.5%	98,328	+3367.1%	1.41%	+3109.1%
ENLK	Buy	EnLink Midstream Partners	$3,729,888,000	-0.3%	222,547	+0.9%	1.38%	-5.2%
	Sell	EZCorp Incconv bond	$3,602,875,000	+0.4%	3,700,000	-0.1%	1.33%	-4.7%
TRGP	Sell	Targa Resources Corp	$3,596,717,000	+0.4%	76,041	-4.1%	1.33%	-4.7%
MMM	Buy	3M Co	$3,448,027,000	+8.2%	16,427	+7.3%	1.27%	+2.7%
MPLX	Buy	MPLX	$3,428,625,000	+7.0%	97,933	+2.1%	1.27%	+1.7%
UNH	Buy	UnitedHealth Group	$3,274,024,000	+13.4%	16,717	+7.4%	1.21%	+7.8%
AM	Buy	Antero Midstream	$3,185,129,000	-4.9%	101,019	+0.1%	1.18%	-9.6%
EPD	Buy	Enterprise Products Partners	$3,141,904,000	+4.0%	120,518	+8.0%	1.16%	-1.3%
SBFG	Buy	SB Financial Group	$3,087,833,000	+7.9%	179,944	+6.1%	1.14%	+2.5%
TLP	Buy	Transmontaigne Partners	$2,993,373,000	+37.1%	70,086	+34.8%	1.10%	+30.3%
PSXP	Buy	Phillips 66 Partners	$2,823,818,000	+14.9%	53,726	+8.0%	1.04%	+9.2%
HD	Buy	Home Depot	$2,821,410,000	+14.2%	17,250	+7.1%	1.04%	+8.5%
SLMNP	Sell	A Schulmannconv pref	$2,784,852,000	+4.4%	3,117	-0.5%	1.03%	-0.9%
MCD	Buy	McDonald's	$2,772,609,000	+9.4%	17,696	+6.9%	1.02%	+4.0%
HEP	Buy	Holly Energy Partners	$2,706,769,000	+3.5%	81,041	+0.7%	1.00%	-1.7%
AAPL	Buy	Apple	$2,683,479,000	+14.9%	17,412	+7.4%	0.99%	+9.1%
WTFC	Sell	Wintrust Financial	$2,632,312,000	+0.4%	33,614	-2.0%	0.97%	-4.6%
GEL	Buy	Genesis Energy	$2,627,069,000	-14.5%	99,699	+3.0%	0.97%	-18.8%
TGP	Sell	Teekay LNG Partners	$2,589,170,000	+15.9%	145,459	-0.1%	0.96%	+10.1%
CVX	Buy	Chevron Corporation	$2,555,068,000	+18.8%	21,745	+5.5%	0.94%	+12.8%
	Sell	Titan Machineryconv bond	$2,448,298,000	+1.0%	2,492,000	-0.8%	0.90%	-4.0%
JNJ	Buy	Johnson & Johnson	$2,441,068,000	+4.7%	18,776	+6.5%	0.90%	-0.6%
WMB	Sell	Williams Companies	$2,433,758,000	-60.6%	81,098	-60.3%	0.90%	-62.6%
IBM	Buy	International Business Machines	$2,402,235,000	+1.3%	16,558	+7.4%	0.89%	-3.7%
	Sell	Broadsoft Incconv bond	$2,348,270,000	+5.3%	1,880,000	-1.3%	0.87%	+0.1%
BGEPF	Sell	Bunge Ltdconv pref	$2,308,077,000	-1.3%	22,190	-1.1%	0.85%	-6.3%
SHLX	Sell	Shell Midstream Partners	$2,229,204,000	-8.2%	80,072	-0.0%	0.82%	-12.7%
	Sell	KB HOMEconv bond	$2,228,512,000	-2.7%	2,115,000	-1.2%	0.82%	-7.5%
ANDX	New	Andeavor Logistics	$2,201,389,000	–	43,975	–	0.81%	–
IRDDA	Sell	Iridium Communicationsconv pref	$2,171,829,000	-6.1%	19,093	-1.3%	0.80%	-10.8%
	Sell	Prospect Capitalconv bond	$2,164,937,000	-1.4%	2,159,000	-0.9%	0.80%	-6.4%
	Sell	Atlas Air Worldwide Holdingsconv bond	$2,158,708,000	+13.2%	1,805,000	-0.8%	0.80%	+7.6%
DKL	Buy	Delek Logistics Partners	$2,143,906,000	+6.6%	68,605	+11.7%	0.79%	+1.3%
	Sell	Navistar Intlconv bond	$2,087,426,000	+3.5%	2,005,000	-0.5%	0.77%	-1.7%
CAT	Buy	Caterpillar Inc	$2,066,320,000	+24.7%	16,569	+7.4%	0.76%	+18.5%
TRV	Buy	Travelers Companies	$2,025,256,000	+4.0%	16,530	+7.4%	0.75%	-1.2%
	Sell	Greenbriarconv bond	$2,003,397,000	-0.3%	1,452,000	-1.4%	0.74%	-5.2%
JPM	Buy	JPMorgan Chase	$1,968,748,000	+10.6%	20,613	+5.9%	0.73%	+5.1%
	New	Chesapeake Energyconv pref	$1,958,670,000	–	3,109	–	0.72%	–
	Sell	Aceto Corpconv bond	$1,927,716,000	-3.7%	2,165,000	-0.7%	0.71%	-8.5%
UTX	Buy	United Technologies	$1,906,846,000	+2.2%	16,427	+7.5%	0.70%	-2.9%
	Sell	General Cable Corpconv bond	$1,862,874,000	+14.4%	2,095,000	-1.9%	0.69%	+8.7%
V	Buy	Visa	$1,729,198,000	+20.5%	16,431	+7.4%	0.64%	+14.3%
NMIH	Sell	NMI Holdings	$1,723,414,000	+6.4%	138,985	-1.7%	0.64%	+1.1%
KE	Sell	Kimball Electronics	$1,717,495,000	+17.8%	79,330	-1.8%	0.63%	+11.8%
AYR	Buy	Aircastle LTD	$1,715,305,000	+10.2%	76,954	+7.6%	0.63%	+4.6%
DIS	Buy	Walt Disney	$1,685,151,000	-0.6%	17,096	+7.2%	0.62%	-5.6%
PG	Buy	Procter & Gamble	$1,647,102,000	+11.2%	18,104	+6.6%	0.61%	+5.7%
XOM	Buy	Exxon Mobil	$1,641,158,000	+7.3%	20,019	+5.6%	0.61%	+1.8%
EFA	Buy	iShares MSCI EAFE Index Fund	$1,635,439,000	+7.4%	23,882	+2.3%	0.60%	+2.0%
CIVB	Sell	Civista Bancshares	$1,527,632,000	+6.2%	68,381	-0.7%	0.56%	+0.9%
AXP	Buy	American Express Company	$1,489,695,000	+15.4%	16,468	+7.5%	0.55%	+9.6%
APLP	Buy	Archrock Partners	$1,486,648,000	+16.3%	104,253	+21.6%	0.55%	+10.5%
PAGP	Sell	Plains GP Holdings	$1,445,287,000	-16.9%	66,085	-0.6%	0.53%	-21.0%
PFBI	Sell	Premier Financial Bancorp	$1,438,534,000	+5.1%	66,018	-0.6%	0.53%	-0.2%
MSFT	Buy	Microsoft Corporation	$1,417,634,000	+15.0%	19,031	+6.4%	0.52%	+9.2%
TK	Sell	Teekay Inc	$1,392,419,000	+32.4%	155,926	-1.1%	0.51%	+25.7%
ONB	Buy	Old National Bancorp	$1,357,984,000	+6.1%	74,207	+0.0%	0.50%	+0.8%
WMT	Buy	Wal-Mart Stores	$1,332,053,000	+10.7%	17,047	+7.2%	0.49%	+5.1%
ALSK	Buy	Alaska Communications	$1,329,675,000	+5.0%	585,760	+1.7%	0.49%	-0.2%
	Sell	Global Eagle Entertainmentconv bond	$1,297,594,000	-3.1%	2,060,000	-1.4%	0.48%	-7.9%
	Sell	Jefferies Groupconv bond	$1,265,968,000	-1.6%	1,263,000	-1.2%	0.47%	-6.6%
SD	Buy	SandRidge Energy	$1,257,935,000	+18.7%	62,615	+1.7%	0.46%	+12.6%
PFBX	Buy	Peoples Financial Corp	$1,226,833,000	+13.9%	83,458	+5.0%	0.45%	+8.1%
IRDM	Buy	Iridium Communications	$1,224,711,000	-3.4%	118,904	+3.6%	0.45%	-8.3%
MFSF	Sell	MutualFirst Financial	$1,216,038,000	+7.0%	31,626	-0.6%	0.45%	+1.6%
FUNC	Buy	First United Corp	$1,212,969,000	+29.5%	72,851	+15.9%	0.45%	+23.1%
CZWI	Buy	Citizens Community Bancorp	$1,214,403,000	+50.0%	87,054	+48.5%	0.45%	+42.2%
	Sell	Royal Gold Incconv bond	$1,210,826,000	+0.1%	1,105,000	-1.3%	0.45%	-4.9%
TRCB	Sell	Two River Bancorp	$1,204,373,000	+5.5%	60,766	-1.1%	0.44%	+0.2%
DWDP	New	DowDuPont	$1,198,921,000	–	17,318	–	0.44%	–
MRK	Buy	Merck & Co	$1,165,794,000	+6.6%	18,207	+6.7%	0.43%	+1.2%
IBCP	Buy	Independent Bank Corp	$1,138,656,000	+4.1%	50,272	+0.0%	0.42%	-1.2%
ENLC	Buy	EnLink Midstream	$1,128,479,000	+8.6%	65,419	+10.8%	0.42%	+3.2%
MDR	Buy	McDermott International	$1,109,860,000	+3.2%	152,663	+1.8%	0.41%	-1.9%
TGI	Buy	Triumph Group	$1,108,783,000	-3.9%	37,270	+2.1%	0.41%	-8.7%
PTQEP	Sell	PetroQuest Energyconv pref	$1,091,094,000	+19.0%	64,182	-1.1%	0.40%	+13.2%
HVT	Buy	Haverty Furniture Company	$1,086,663,000	+12.9%	41,555	+8.4%	0.40%	+7.2%
ARCB	Sell	Arcbest Corp	$1,062,287,000	+60.3%	31,757	-1.3%	0.39%	+51.9%
UBOH	Buy	United Bancshares	$1,053,595,000	+6.0%	46,826	+10.0%	0.39%	+0.8%
MDC	Sell	MDC Holdings	$1,005,167,000	-7.3%	30,267	-1.3%	0.37%	-11.9%
ESSA	Buy	Essa Bancorp	$986,682,000	+42.3%	62,846	+33.4%	0.36%	+34.8%
VZ	Buy	Verizon Communications	$939,964,000	+17.7%	18,993	+6.2%	0.35%	+11.9%
	New	Chesapeake Energy Corpconv bond	$917,500,000	–	1,000,000	–	0.34%	–
EBMT	New	Eagle Bancorp Montana	$909,220,000	–	49,147	–	0.34%	–
BKS	Buy	Barnes & Noble Inc.	$884,963,000	+89.7%	116,442	+89.7%	0.33%	+80.7%
SUP	Buy	Superior Industries	$877,183,000	-5.4%	52,684	+16.8%	0.32%	-10.0%
NKE	Buy	Nike	$853,918,000	-5.6%	16,469	+7.5%	0.32%	-10.3%
LOCO	Buy	El Pollo Loco Holdings	$830,817,000	-2.9%	68,380	+10.7%	0.31%	-7.8%
OPB	New	Opus Bank	$830,400,000	–	34,600	–	0.31%	–
GE	Buy	General Electric	$830,010,000	-7.4%	34,326	+3.5%	0.31%	-12.1%
LCI	Buy	Lannett Company	$809,715,000	-4.5%	43,887	+5.6%	0.30%	-9.1%
KO	Buy	Coca-Cola	$802,798,000	+7.2%	17,836	+6.9%	0.30%	+1.7%
PFE	Buy	Pfizer	$795,717,000	+12.0%	22,289	+5.4%	0.29%	+6.5%
OGS	New	ONE Gas	$783,971,000	–	10,646	–	0.29%	–
MVBF	Buy	MVB Financial Corp	$775,914,000	+320.6%	41,272	+195.3%	0.29%	+297.2%
C	Buy	Citigroup	$761,151,000	+20.3%	10,464	+10.6%	0.28%	+14.2%
ASRV	Buy	AmeriServ Financial	$747,090,000	-3.6%	186,773	+0.0%	0.28%	-8.3%
RAIL	Sell	FreightCar America	$723,661,000	+11.3%	36,997	-1.1%	0.27%	+5.5%
INTC	Buy	Intel Corporation	$706,612,000	+22.2%	18,556	+8.3%	0.26%	+16.0%
AAL	Sell	American Airlines Group	$670,891,000	-52.8%	14,127	-50.0%	0.25%	-55.2%
CFG	Sell	Citizens Financial Group	$618,606,000	+5.2%	16,335	-0.9%	0.23%	-0.4%
KMI	Sell	Kinder Morgan	$615,584,000	-1.4%	32,095	-1.5%	0.23%	-6.6%
CSCO	Buy	Cisco Systems	$599,892,000	+16.7%	17,838	+8.6%	0.22%	+10.5%
	Buy	Homestreet	$587,790,000	-1.6%	21,770	+0.8%	0.22%	-6.5%
NM	Buy	Navios Maritime Holdings	$570,973,000	+24.1%	341,900	+1.8%	0.21%	+17.9%
RCII	Buy	Rent-A-Center	$541,052,000	+21.6%	47,130	+24.1%	0.20%	+15.6%
SLYV	Buy	SPDR S&P 600 Small Cap Value	$538,884,000	+7.1%	4,264	+1.1%	0.20%	+2.1%
UIS	Buy	Unisys Corp	$522,495,000	-20.9%	61,470	+19.1%	0.19%	-24.9%
UNIT	New	Uniti Group	$510,095,000	–	34,795	–	0.19%	–
HWBK	Buy	Hawthorn Bancshares	$415,428,000	+3.3%	20,069	+4.5%	0.15%	-1.9%
SHYG	New	iShares 0-5 Yr High Yield Corporate Bond	$406,555,000	–	8,500	–	0.15%	–
HFBC	Buy	HopFed Bancorp	$314,386,000	+1.2%	21,682	+0.0%	0.12%	-4.1%
XRM	Sell	Xerium Technologies	$231,101,000	-34.0%	48,347	-0.7%	0.08%	-37.5%
ET	Buy	Energy Transfer Equity	$222,623,000	-3.1%	12,809	+0.1%	0.08%	-7.9%
CWSA	Buy	Citigroup Inc	$190,430,000	-17.8%	1,653,040	+7.0%	0.07%	-22.2%
GNK	Sell	Genco Shipping & Trading Ltd.	$178,349,000	+21.8%	15,388	-0.5%	0.07%	+15.8%
TIP	Buy	iShares Barclays TIPS Bond	$161,098,000	+2.0%	1,418	+1.8%	0.06%	-3.3%
	Sell	Horsehead Holdings	$160,365,000	+13.5%	3,564	-0.4%	0.06%	+7.3%
HA	Sell	Hawaiian Holdings	$113,777,000	-22.6%	3,030	-3.2%	0.04%	-26.3%
SCHO	Sell	Schwab Short-Term U.S. Treasury	$114,807,000	-34.7%	2,278	-34.7%	0.04%	-38.2%
IJH	New	iShares Core S&P MidCap 400 Index	$76,276,000	–	426	–	0.03%	–
BX	New	Blackstone Group	$75,083,000	–	2,250	–	0.03%	–
HON	New	Honeywell International	$70,870,000	–	500	–	0.03%	–
F	Buy	Ford	$58,989,000	+7.1%	4,928	+0.1%	0.02%	+4.8%
MO	New	Altria Group	$54,199,000	–	855	–	0.02%	–
KKR	New	KKR & Co	$52,045,000	–	2,560	–	0.02%	–
OAK	New	Oaktree Capital Group	$48,226,000	–	1,025	–	0.02%	–
IWR	New	iShares Russell Midcap Index	$40,773,000	–	207	–	0.02%	–
TSBK	Sell	Timberland Bancorp	$31,340,000	-97.9%	1,000	-98.3%	0.01%	-97.9%
EOG	Sell	EOG Resources Inc	$29,506,000	-3.0%	305	-9.2%	0.01%	-8.3%
BOKF	New	BOK Financial	$27,625,000	–	310	–	0.01%	–
	New	Contura Energy	$25,428,000	–	978	–	0.01%	–
OLN	New	Olin Corp	$23,994,000	–	701	–	0.01%	–
STX	Buy	Seagate Technology	$19,902,000	+28.4%	600	+50.0%	0.01%	+16.7%
APO	New	Apollo Global	$19,114,000	–	635	–	0.01%	–
LGIH	Sell	LGI Homes	$14,571,000	-39.6%	300	-50.0%	0.01%	-44.4%
CHK	New	Chesapeake Energy	$9,486,000	–	2,206	–	0.00%	–
HBAN	New	Huntington Bancshares	$5,683,000	–	407	–	0.00%	–
PESXQ	New	Pioneer Energy Services	$2,678,000	–	1,050	–	0.00%	–
JONE	New	Jones Energy	$1,002,000	–	522	–	0.00%	–
BANR	Exit	Banner Corp	$0	–	-200	–	-0.00%	–
	Exit	Blucora Incconv bond	$0	–	-15,000	–	-0.01%	–
PNFP	Exit	Pinnacle Financial Partners	$0	–	-261	–	-0.01%	–
WPX	Exit	WPX Energy	$0	–	-4,630	–	-0.02%	–
VTTI	Exit	VTTI Energy Partners	$0	–	-34,232	–	-0.26%	–
DD	Exit	du Pont	$0	–	-16,107	–	-0.50%	–
SFST	Exit	Southern First Bancshares	$0	–	-54,912	–	-0.79%	–
	Exit	Quidel Corpconv bond	$0	–	-1,865,000	–	-0.80%	–
TLLP	Exit	Andeavor Logistics LP	$0	–	-43,229	–	-0.87%	–

Q2 2017

			Value		Shares		↓ Weighting
DIA	New	SPDR Dow Jones Industrial Average	$7,836,628,000	–	36,750	–	3.04%	–
WMB	New	Williams Companies	$6,179,330,000	–	204,073	–	2.40%	–
MMP	New	Magellan Midstream Partners	$5,802,661,000	–	81,418	–	2.26%	–
QCRH	New	QCR Holdings	$5,389,235,000	–	113,697	–	2.09%	–
NGL	New	NGL Energy Partners	$4,850,016,000	–	346,430	–	1.88%	–
OKE	New	ONEOK	$4,325,964,000	–	82,936	–	1.68%	–
RMP	New	Rice Midstream Partners	$4,275,914,000	–	214,439	–	1.66%	–
BANC	New	Banc of California	$4,234,169,000	–	196,938	–	1.64%	–
	New	Alaska Communicationsconv bond	$4,108,500,000	–	3,960,000	–	1.60%	–
ENLK	New	EnLink Midstream Partners	$3,739,799,000	–	220,507	–	1.45%	–
	New	EZCorp Incconv bond	$3,589,219,000	–	3,705,000	–	1.40%	–
TRGP	New	Targa Resources Corp	$3,583,711,000	–	79,286	–	1.39%	–
GS	New	Goldman Sachs	$3,415,263,000	–	15,391	–	1.33%	–
AM	New	Antero Midstream Partners	$3,347,497,000	–	100,889	–	1.30%	–
AHGP	New	Alliance Holdings GP	$3,286,526,000	–	138,672	–	1.28%	–
BA	New	Boeing	$3,224,709,000	–	16,307	–	1.25%	–
MPLX	New	MPLX	$3,203,984,000	–	95,928	–	1.24%	–
MMM	New	3M	$3,187,596,000	–	15,311	–	1.24%	–
GEL	New	Genesis Energy	$3,072,067,000	–	96,819	–	1.19%	–
EPD	New	Enterprise Products Partners	$3,022,345,000	–	111,608	–	1.18%	–
	New	Macquarie Infrastructureconv bond	$2,999,792,000	–	2,995,000	–	1.17%	–
UNH	New	UnitedHealth	$2,887,360,000	–	15,572	–	1.12%	–
SBFG	New	SB Financial Group	$2,861,545,000	–	169,523	–	1.11%	–
SLMNP	New	A. Schulmann & Coconv pref	$2,668,464,000	–	3,132	–	1.04%	–
WTFC	New	Wintrust Financial	$2,622,289,000	–	34,305	–	1.02%	–
HEP	New	Holly Energy Partners L.P	$2,614,510,000	–	80,496	–	1.02%	–
MCD	New	McDonald's	$2,534,951,000	–	16,551	–	0.98%	–
HD	New	Home Depot	$2,470,507,000	–	16,105	–	0.96%	–
PSXP	New	Phillips 66 Partners	$2,457,805,000	–	49,733	–	0.96%	–
SHLX	New	Shell Midstream Partners	$2,427,394,000	–	80,112	–	0.94%	–
	New	Titan Machineryconv bond	$2,424,072,000	–	2,512,000	–	0.94%	–
SMMF	New	Summit Financial Group	$2,376,154,000	–	108,007	–	0.92%	–
IBM	New	IBM	$2,370,982,000	–	15,413	–	0.92%	–
BGEPF	New	Bunge Ltd.conv pref	$2,339,370,000	–	22,440	–	0.91%	–
AAPL	New	Apple	$2,335,704,000	–	16,218	–	0.91%	–
JNJ	New	Johnson & Johnson	$2,332,405,000	–	17,631	–	0.91%	–
IRDDA	New	Iridium Communicationsconv pref	$2,312,586,000	–	19,336	–	0.90%	–
	New	KB HOMEconv bond	$2,291,191,000	–	2,140,000	–	0.89%	–
TGP	New	Teekay LNG Partners	$2,234,331,000	–	145,559	–	0.87%	–
TLLP	New	Andeavor Logistics LP	$2,234,507,000	–	43,229	–	0.87%	–
	New	Broadsoftconv bond	$2,229,612,000	–	1,905,000	–	0.87%	–
	New	Prospect Capital Corpconv bond	$2,196,650,000	–	2,179,000	–	0.85%	–
TLP	New	Transmontaigne Partners	$2,183,076,000	–	51,978	–	0.85%	–
CVX	New	Chevron Corporation	$2,150,244,000	–	20,610	–	0.84%	–
	New	Quidel Corpconv bond	$2,071,754,000	–	1,865,000	–	0.80%	–
SFST	New	Southern First Bancshares	$2,034,490,000	–	54,912	–	0.79%	–
	New	Navistar Intlconv bond	$2,017,257,000	–	2,015,000	–	0.78%	–
DKL	New	Delek Logistics Partners	$2,011,014,000	–	61,405	–	0.78%	–
	New	Greenbriarconv bond	$2,009,780,000	–	1,472,000	–	0.78%	–
	New	Aceto Corpconv bond	$2,001,778,000	–	2,180,000	–	0.78%	–
TRV	New	Travelers	$1,946,664,000	–	15,385	–	0.76%	–
	New	Atlas Air Worldwideconv bond	$1,907,615,000	–	1,820,000	–	0.74%	–
UTX	New	United Technologies	$1,866,085,000	–	15,282	–	0.72%	–
JPM	New	JPMorgan	$1,779,375,000	–	19,468	–	0.69%	–
PAGP	New	Plains GP Holdings	$1,739,732,000	–	66,503	–	0.68%	–
DIS	New	Walt Disney	$1,694,559,000	–	15,949	–	0.66%	–
CAT	New	Caterpillar	$1,657,463,000	–	15,424	–	0.64%	–
SONA	New	Southern National Bancorp	$1,644,043,000	–	93,412	–	0.64%	–
	New	General Cableconv bond	$1,628,300,000	–	2,135,000	–	0.63%	–
NMIH	New	NMI Holdings	$1,619,431,000	–	141,435	–	0.63%	–
AYR	New	Aircastle LTD	$1,556,234,000	–	71,551	–	0.60%	–
FBMS	New	First Bancshares	$1,531,552,000	–	55,491	–	0.60%	–
XOM	New	Exxon Mobil Corporation	$1,529,995,000	–	18,952	–	0.60%	–
EFA	New	iShares MSCI EAFE Index Fund	$1,522,355,000	–	23,349	–	0.59%	–
TSBK	New	Timberland Bancorp	$1,501,594,000	–	59,422	–	0.58%	–
PG	New	Procter & Gamble	$1,480,591,000	–	16,989	–	0.58%	–
KE	New	Kimball Electronics	$1,458,169,000	–	80,785	–	0.57%	–
CIVB	New	Civista Bancshares	$1,438,235,000	–	68,881	–	0.56%	–
V	New	Visa	$1,435,397,000	–	15,306	–	0.56%	–
AAL	New	American Airlines Group	$1,422,546,000	–	28,270	–	0.55%	–
PFBI	New	Premier Financial	$1,369,104,000	–	66,429	–	0.53%	–
	New	Sunpowerconv bond	$1,367,392,000	–	1,730,000	–	0.53%	–
	New	Global Eagle Entertainmentconv bond	$1,338,434,000	–	2,090,000	–	0.52%	–
DD	New	du Pont	$1,299,996,000	–	16,107	–	0.50%	–
AXP	New	American Express Company	$1,290,810,000	–	15,323	–	0.50%	–
FCCO	New	First Community	$1,291,290,000	–	61,490	–	0.50%	–
	New	Jefferies Groupconv bond	$1,287,163,000	–	1,278,000	–	0.50%	–
ONB	New	Old National Bancorp	$1,280,040,000	–	74,205	–	0.50%	–
APLP	New	Archrock Partners	$1,278,130,000	–	85,723	–	0.50%	–
IRDM	New	Iridium Communications	$1,268,142,000	–	114,764	–	0.49%	–
ALSK	New	Alaska Communications	$1,266,815,000	–	575,825	–	0.49%	–
MSFT	New	Microsoft	$1,232,894,000	–	17,886	–	0.48%	–
PEBK	New	Peoples Bancorp	$1,225,164,000	–	38,771	–	0.48%	–
	New	Royal Goldconv bond	$1,209,925,000	–	1,120,000	–	0.47%	–
WMT	New	Wal-Mart	$1,203,463,000	–	15,902	–	0.47%	–
IRDMB	New	Iridium Communicationsconv pref	$1,158,000,000	–	3,000	–	0.45%	–
TGI	New	Triumph Group	$1,153,874,000	–	36,515	–	0.45%	–
TRCB	New	Two River Bancorp	$1,141,734,000	–	61,417	–	0.44%	–
MFSF	New	MutualFirst Financial	$1,136,189,000	–	31,826	–	0.44%	–
CVLY	New	Codorus Bancorp	$1,100,101,000	–	38,736	–	0.43%	–
IBCP	New	Independent Bank Corp	$1,093,390,000	–	50,271	–	0.42%	–
MRK	New	Merck	$1,093,504,000	–	17,062	–	0.42%	–
MDC	New	MDC Holdings	$1,083,748,000	–	30,675	–	0.42%	–
PFBX	New	Peoples Financial	$1,077,225,000	–	79,500	–	0.42%	–
MDR	New	McDermott International	$1,075,235,000	–	149,963	–	0.42%	–
SD	New	SandRidge Energy	$1,059,534,000	–	61,565	–	0.41%	–
TK	New	Teekay	$1,051,365,000	–	157,626	–	0.41%	–
ENLC	New	EnLink Midstream LLC	$1,039,018,000	–	59,035	–	0.40%	–
PKBK	New	Parke Bancorp	$1,033,222,000	–	46,126	–	0.40%	–
UBOH	New	United Bancshares	$994,214,000	–	42,579	–	0.39%	–
BAC	New	Bank of America	$985,247,000	–	40,612	–	0.38%	–
HVT	New	Haverty Furniture	$962,334,000	–	38,340	–	0.37%	–
FUNC	New	First United Corp	$936,480,000	–	62,851	–	0.36%	–
SUP	New	Superior Industries	$927,086,000	–	45,114	–	0.36%	–
PTQEP	New	PetroQuest Energyconv pref	$917,023,000	–	64,922	–	0.36%	–
NKE	New	Nike	$904,116,000	–	15,324	–	0.35%	–
GE	New	General Electric	$896,138,000	–	33,178	–	0.35%	–
HMNF	New	HMN Financial	$877,061,000	–	49,975	–	0.34%	–
	New	Sunpowerconv bond	$861,875,000	–	1,000,000	–	0.34%	–
LOCO	New	El Pollo Loco	$855,861,000	–	61,795	–	0.33%	–
LCI	New	Lannett Company	$847,457,000	–	41,542	–	0.33%	–
CZWI	New	Citizens Community Bancorp	$809,666,000	–	58,629	–	0.32%	–
VZ	New	Verizon Communications	$798,431,000	–	17,878	–	0.31%	–
ASRV	New	AmeriServ Financial	$775,098,000	–	186,771	–	0.30%	–
	New	Invensenseconv bond	$773,140,000	–	775,000	–	0.30%	–
KO	New	Coca-Cola	$748,591,000	–	16,691	–	0.29%	–
PFE	New	Pfizer	$710,227,000	–	21,144	–	0.28%	–
ESSA	New	Essa Bancorp	$693,606,000	–	47,120	–	0.27%	–
CTRA	New	Contura Energy	$681,200,000	–	10,400	–	0.26%	–
VTTI	New	VTTI Energy Partners	$672,659,000	–	34,232	–	0.26%	–
ARCB	New	Arcbest.	$662,650,000	–	32,167	–	0.26%	–
UIS	New	Unisys	$660,608,000	–	51,610	–	0.26%	–
RAIL	New	FreightCar America	$650,247,000	–	37,392	–	0.25%	–
ZION	New	Zions Bancorp	$647,497,000	–	14,746	–	0.25%	–
FMCKI	New	Freddie Macpref stk	$643,622,000	–	148,300	–	0.25%	–
C	New	Citigroup	$632,952,000	–	9,464	–	0.25%	–
KMI	New	Kinder Morgan, Inc.	$624,124,000	–	32,574	–	0.24%	–
	New	Homestreet	$597,642,000	–	21,595	–	0.23%	–
CFG	New	Citizens Financial Group	$588,006,000	–	16,480	–	0.23%	–
AF	New	Astoria Financial	$583,040,000	–	28,935	–	0.23%	–
INTC	New	Intel	$578,337,000	–	17,141	–	0.22%	–
	New	RAIT Financialconv bond	$573,942,000	–	610,000	–	0.22%	–
STI	New	SunTrust Banks	$566,782,000	–	9,993	–	0.22%	–
CVCY	New	Central Valley Community Bancorp	$552,715,000	–	24,942	–	0.22%	–
CSCO	New	Cisco Systems	$514,040,000	–	16,423	–	0.20%	–
IYF	New	iShares DJ US Financial Sector	$513,300,000	–	4,774	–	0.20%	–
SLYV	New	SPDR S&P 600 Small Cap Value	$502,927,000	–	4,216	–	0.20%	–
BKS	New	Barnes & Noble	$466,507,000	–	61,382	–	0.18%	–
NM	New	Navios Maritime Holdings	$460,183,000	–	335,900	–	0.18%	–
RCII	New	Rent-A-Center	$445,067,000	–	37,975	–	0.17%	–
HWBK	New	Hawthorn Bancshares	$402,219,000	–	19,199	–	0.16%	–
FBNC	New	First Bancorp	$357,288,000	–	11,430	–	0.14%	–
XRM	New	Xerium Technologies	$350,243,000	–	48,712	–	0.14%	–
MOFG	New	MidWest One Financial	$346,661,000	–	10,229	–	0.14%	–
EEM	New	iShares MSCI Emerging Markets Index	$315,185,000	–	7,615	–	0.12%	–
HFBC	New	HopFed Bancorp	$310,780,000	–	21,681	–	0.12%	–
PAA	New	Plains All American Pipeline	$311,799,000	–	11,869	–	0.12%	–
FITB	New	Fifth Third Bancorp	$292,699,000	–	11,275	–	0.11%	–
ZIONW	New	Zions Bancorp	$288,777,000	–	22,438	–	0.11%	–
FCF	New	First Commonwealth Financial	$285,782,000	–	22,538	–	0.11%	–
CWSA	New	Citigroup	$231,756,000	–	1,545,040	–	0.09%	–
ET	New	Energy Transfer Equity	$229,779,000	–	12,794	–	0.09%	–
FCCY	New	1st Constitution Bancorp	$219,155,000	–	12,417	–	0.08%	–
	New	Bank of America	$216,720,000	–	18,000	–	0.08%	–
MVBF	New	MVB Financial	$184,470,000	–	13,975	–	0.07%	–
T	New	A T & T	$183,896,000	–	4,874	–	0.07%	–
BHLB	New	Berkshire Hills Bancorp	$182,745,000	–	5,199	–	0.07%	–
SCHO	New	Schwab Short-Term U.S. Treasury	$175,795,000	–	3,487	–	0.07%	–
BACWSB	New	Bank of America	$170,344,000	–	215,625	–	0.07%	–
TIP	New	iShares Barclays TIPS Bond	$157,966,000	–	1,393	–	0.06%	–
GNK	New	Genco Shipping	$146,474,000	–	15,467	–	0.06%	–
HA	New	Hawaiian Holdings	$146,954,000	–	3,130	–	0.06%	–
	New	Horsehead Holdings	$141,333,000	–	3,578	–	0.06%	–
ETP	New	Energy Transfer Partners	$137,816,000	–	6,759	–	0.05%	–
RASF	New	RAIT Financial Trust	$120,012,000	–	54,800	–	0.05%	–
FNB	New	F.N.B. Corporation	$119,567,000	–	8,444	–	0.05%	–
WPZ	New	Williams Partners	$113,752,000	–	2,836	–	0.04%	–
CVO	New	Cenveo	$94,730,000	–	15,555	–	0.04%	–
BBT	New	BB&T Corporation	$65,527,000	–	1,443	–	0.02%	–
SEMG	New	SemGroup Corp	$64,989,000	–	2,407	–	0.02%	–
ARLP	New	Alliance Resource Partners	$62,370,000	–	3,300	–	0.02%	–
F	New	Ford	$55,068,000	–	4,921	–	0.02%	–
WPX	New	WPX Energy	$44,723,000	–	4,630	–	0.02%	–
EZPW	New	EZCORP	$38,231,000	–	4,965	–	0.02%	–
BACPRL	New	Bank of Americaconv pref	$36,598,000	–	29	–	0.01%	–
EOG	New	EOG Resources	$30,415,000	–	336	–	0.01%	–
TOO	New	Teekay Offshore Partners	$27,142,000	–	9,457	–	0.01%	–
AGM	New	Federal Agricultural Mortgage	$25,880,000	–	400	–	0.01%	–
JNEEP	New	Jones Energyconv pref	$25,800,000	–	600	–	0.01%	–
LGIH	New	LGI Homes	$24,108,000	–	600	–	0.01%	–
UMPQ	New	Umpqua Holdings	$18,360,000	–	1,000	–	0.01%	–
TNK	New	Teekay Tankers	$18,800,000	–	10,000	–	0.01%	–
QEP	New	QEP Resources	$15,150,000	–	1,500	–	0.01%	–
	New	Blucora Incconv bond	$15,000,000	–	15,000	–	0.01%	–
PNFP	New	Pinnacle Financial Partners	$16,391,000	–	261	–	0.01%	–
STX	New	Seagate Technology	$15,500,000	–	400	–	0.01%	–
NNA	New	Navios Maritime Acquisition	$16,170,000	–	11,000	–	0.01%	–
COFS	New	Choiceone Financial	$13,680,000	–	604	–	0.01%	–
GNKWF	New	Genco Shipping	$12,431,000	–	62,155	–	0.01%	–
NMM	New	Navios Maritime Partners	$12,879,000	–	8,100	–	0.01%	–
FNMAS	New	Fannie Maepref stk	$11,520,000	–	2,000	–	0.00%	–
AKS	New	AK Steel	$9,855,000	–	1,500	–	0.00%	–
BANR	New	Banner Corp	$11,318,000	–	200	–	0.00%	–
TOL	New	Toll Brothers	$7,902,000	–	200	–	0.00%	–
EMESQ	New	Emerge Energy Services	$7,659,000	–	850	–	0.00%	–
DHI	New	DR Horton	$8,643,000	–	250	–	0.00%	–
WEBC	New	Webco	$8,000,000	–	100	–	0.00%	–
SWN	New	Southwestern Energy Company	$6,080,000	–	1,000	–	0.00%	–
PQ	New	PetroQuest Energy	$4,950,000	–	2,500	–	0.00%	–
UCBI	New	United Community Banks	$6,116,000	–	220	–	0.00%	–
MTH	New	Meritage Homes	$4,220,000	–	100	–	0.00%	–
SPWR	New	SunPower	$2,204,000	–	236	–	0.00%	–
PSTB	New	Park Sterling	$1,948,000	–	164	–	0.00%	–
BWP	New	Boardwalk Pipeline Partners	$3,602,000	–	200	–	0.00%	–
AOI	New	Alliance One International	$2,880,000	–	200	–	0.00%	–

Q4 2016

			Value		Shares		↓ Weighting
KMIWS	Exit	Kinder Morgan Inc	$0	–	-7,140	–	0.00%	–
GNKWF	Exit	Genco Shipping	$0	–	-2,155	–	0.00%	–
OKSB	Exit	Southwest Bancorp	$0	–	-200	–	-0.00%	–
BWP	Exit	Boardwalk Pipeline Partners	$0	–	-200	–	-0.00%	–
CBF	Exit	Capital Bank Financial	$0	–	-98	–	-0.00%	–
PSTB	Exit	Park Sterling	$0	–	-164	–	-0.00%	–
JPMWS	Exit	JP Morgan Chase	$0	–	-200	–	-0.00%	–
UCBI	Exit	United Community Banks	$0	–	-220	–	-0.00%	–
WIN	Exit	Windstream Holdings	$0	–	-500	–	-0.00%	–
PESXQ	Exit	Pioneer Energy Services	$0	–	-1,050	–	-0.00%	–
TOL	Exit	Toll Brothers	$0	–	-200	–	-0.00%	–
DHI	Exit	DR Horton	$0	–	-250	–	-0.00%	–
BANR	Exit	Banner Corp	$0	–	-200	–	-0.00%	–
PQ	Exit	PetroQuest Energy	$0	–	-2,500	–	-0.00%	–
AKS	Exit	AK Steel	$0	–	-2,000	–	-0.00%	–
EMESQ	Exit	Emerge Energy Services	$0	–	-850	–	-0.00%	–
	Exit	Cal Dive Internationalconv bond	$0	–	-4,550,000	–	-0.00%	–
NNA	Exit	Navios Maritime Acquisition	$0	–	-9,000	–	-0.01%	–
NMM	Exit	Navios Maritime Partners	$0	–	-9,000	–	-0.01%	–
COFS	Exit	Choiceone Financial Services	$0	–	-576	–	-0.01%	–
AGM	Exit	Federal Agricultural Mortgage	$0	–	-400	–	-0.01%	–
UMPQ	Exit	Umpqua Holdings	$0	–	-1,100	–	-0.01%	–
SWN	Exit	Southwestern Energy Company	$0	–	-1,205	–	-0.01%	–
AESPRC	Exit	A E S TRUSTconv pref	$0	–	-375	–	-0.01%	–
OKS	Exit	ONEOK Partners	$0	–	-500	–	-0.01%	–
BACWSB	Exit	Bank of America	$0	–	-215,625	–	-0.01%	–
STX	Exit	Seagate Technology	$0	–	-600	–	-0.01%	–
LGIH	Exit	LGI Homes	$0	–	-600	–	-0.01%	–
YDKN	Exit	Yadkin Financial	$0	–	-833	–	-0.01%	–
TNK	Exit	Teekay Tankers	$0	–	-10,000	–	-0.01%	–
QEP	Exit	QEP Resources	$0	–	-1,500	–	-0.01%	–
TOO	Exit	Teekay Offshore	$0	–	-4,757	–	-0.01%	–
EOG	Exit	EOG Resources	$0	–	-336	–	-0.01%	–
BACPRL	Exit	Bank of Americaconv pref	$0	–	-29	–	-0.01%	–
CWSA	Exit	Citigroup Inc	$0	–	-772,183	–	-0.02%	–
MMLP	Exit	Martin Midstream Partners	$0	–	-1,995	–	-0.02%	–
WPZ	Exit	Williams Partners	$0	–	-1,146	–	-0.02%	–
EZPW	Exit	EZCORP	$0	–	-4,560	–	-0.02%	–
GNK	Exit	Genco Shipping	$0	–	-11,081	–	-0.02%	–
BBT	Exit	BB&T Corporation	$0	–	-1,443	–	-0.02%	–
	Exit	Horsehead Holdingconv bond	$0	–	-5,270,000	–	-0.02%	–
DCBF	Exit	DCB Financial	$0	–	-7,827	–	-0.02%	–
TLP	Exit	Transmontaigne Partners	$0	–	-1,625	–	-0.03%	–
F	Exit	Ford	$0	–	-5,702	–	-0.03%	–
ARLP	Exit	Alliance Resource Partners	$0	–	-3,300	–	-0.03%	–
	Exit	Bank of America	$0	–	-18,000	–	-0.03%	–
FUNC	Exit	First United Corp	$0	–	-7,468	–	-0.04%	–
ZIONW	Exit	Zions Bancorp	$0	–	-22,438	–	-0.04%	–
HWBK	Exit	Hawthorn Bancshares	$0	–	-6,190	–	-0.04%	–
FNB	Exit	FNB Corporation	$0	–	-8,444	–	-0.04%	–
SCHO	Exit	Schwab Short-Term U.S. Treasury ETF	$0	–	-2,102	–	-0.04%	–
CVO	Exit	Cenveo	$0	–	-15,555	–	-0.04%	–
AAMRQ	Exit	American Airlines Group Inc	$0	–	-11,453	–	-0.05%	–
FCCY	Exit	1st Constitution Bancorp.	$0	–	-10,397	–	-0.06%	–
ETP	Exit	Energy Transfer Partners	$0	–	-4,186	–	-0.06%	–
TIP	Exit	iShares Barclays TIPS Bond	$0	–	-1,402	–	-0.06%	–
BHLB	Exit	Berkshire Hills Bancorp	$0	–	-5,944	–	-0.06%	–
RASF	Exit	RAIT Financial	$0	–	-54,800	–	-0.07%	–
T	Exit	A T & T	$0	–	-5,024	–	-0.08%	–
ET	Exit	Energy Transfer Equity	$0	–	-12,755	–	-0.08%	–
FITB	Exit	Fifth Third Bancorp	$0	–	-11,275	–	-0.09%	–
HA	Exit	Hawaiian Holdings	$0	–	-5,039	–	-0.10%	–
FBNC	Exit	First Bancorp	$0	–	-12,489	–	-0.10%	–
FCF	Exit	First Commonwealth Financial	$0	–	-24,798	–	-0.10%	–
HFBC	Exit	HopFed Bancorp	$0	–	-24,860	–	-0.11%	–
EEM	Exit	iShares MSCI Emerging Markets	$0	–	-7,615	–	-0.11%	–
C	Exit	Citigroup	$0	–	-6,464	–	-0.12%	–
MOFG	Exit	MidWest One Financial	$0	–	-10,964	–	-0.13%	–
PAA	Exit	Plains All American Pipeline	$0	–	-11,293	–	-0.14%	–
FMCKI	Exit	Freddie Macpref stk	$0	–	-148,300	–	-0.14%	–
CVCY	Exit	Central Valley Community Bancorp	$0	–	-24,952	–	-0.16%	–
NM	Exit	Navios Maritime Holdings	$0	–	-334,200	–	-0.16%	–
XRM	Exit	Xerium Technologies	$0	–	-51,328	–	-0.16%	–
CTRA	Exit	Contura Energy	$0	–	-10,000	–	-0.16%	–
IYF	Exit	iShares DJ US Financial Sector	$0	–	-4,774	–	-0.17%	–
SLYV	Exit	SPDR S&P 600 Small Cap Value ETF	$0	–	-4,258	–	-0.18%	–
CFG	Exit	Citizens Financial Group	$0	–	-18,595	–	-0.18%	–
STI	Exit	SunTrust Banks	$0	–	-10,487	–	-0.18%	–
ZION	Exit	Zions Bancorp	$0	–	-15,351	–	-0.19%	–
AF	Exit	Astoria Financial	$0	–	-33,190	–	-0.19%	–
RCII	Exit	Rent-A-Center	$0	–	-38,750	–	-0.19%	–
CSCO	Exit	Cisco Systems	$0	–	-15,694	–	-0.20%	–
UIS	Exit	Unisys Corp	$0	–	-53,075	–	-0.20%	–
MSFG	Exit	MainSource Financial	$0	–	-21,041	–	-0.21%	–
FRME	Exit	First Merchants Corp	$0	–	-20,569	–	-0.22%	–
ARCB	Exit	Arcbest Corp	$0	–	-31,077	–	-0.23%	–
RAIL	Exit	FreightCar America	$0	–	-41,999	–	-0.24%	–
PKBK	Exit	Parke Bancorp	$0	–	-40,536	–	-0.24%	–
BAC	Exit	Bank of America	$0	–	-40,612	–	-0.25%	–
INTC	Exit	Intel	$0	–	-16,892	–	-0.25%	–
FSBK	Exit	First South Bancorp	$0	–	-65,215	–	-0.26%	–
ASRV	Exit	AmeriServ Financial	$0	–	-197,334	–	-0.26%	–
KO	Exit	Coca-Cola Company	$0	–	-16,042	–	-0.27%	–
	Exit	RAIT Financialconv bond	$0	–	-745,000	–	-0.27%	–
TRCB	Exit	Two River Bancorp	$0	–	-59,911	–	-0.27%	–
PFE	Exit	Pfizer	$0	–	-20,727	–	-0.28%	–
HMNF	Exit	HMN Financial	$0	–	-48,275	–	-0.28%	–
TK	Exit	Teekay Inc	$0	–	-98,247	–	-0.30%	–
	Exit	Sunpower Corpconv bond	$0	–	-1,000,000	–	-0.30%	–
MDR	Exit	McDermott International	$0	–	-154,678	–	-0.30%	–
NKE	Exit	Nike	$0	–	-14,881	–	-0.31%	–
NCBS	Exit	Nicolet Bankshares	$0	–	-21,052	–	-0.31%	–
BKS	Exit	Barnes & Noble	$0	–	-71,764	–	-0.32%	–
	Exit	Cenveoconv bond	$0	–	-880,000	–	-0.33%	–
MDC	Exit	MDC Holdings	$0	–	-32,702	–	-0.33%	–
PEBK	Exit	Peoples Bancorp of NC	$0	–	-40,941	–	-0.34%	–
UBOH	Exit	United Bancshares	$0	–	-43,065	–	-0.34%	–
LOCO	Exit	El Pollo Loco Holdings	$0	–	-68,595	–	-0.34%	–
PFBX	Exit	Peoples Financial	$0	–	-81,291	–	-0.34%	–
HVT	Exit	Haverty Furniture	$0	–	-43,530	–	-0.34%	–
IBCP	Exit	Independent Bank Corp	$0	–	-51,798	–	-0.34%	–
CVLY	Exit	Codorus Bancorp	$0	–	-39,952	–	-0.34%	–
	Exit	Invensenseconv bond	$0	–	-915,000	–	-0.34%	–
IRDMB	Exit	Iridium Communicationsconv pref	$0	–	-3,000	–	-0.35%	–
KMI	Exit	Kinder Morgan	$0	–	-39,603	–	-0.36%	–
DOOR	Exit	Masonite International	$0	–	-14,702	–	-0.36%	–
MFSF	Exit	MutualFirst Financial	$0	–	-33,810	–	-0.37%	–
VZ	Exit	Verizon Communications	$0	–	-18,179	–	-0.37%	–
IRDM	Exit	Iridium Communications	$0	–	-116,974	–	-0.37%	–
AXP	Exit	American Express	$0	–	-14,874	–	-0.38%	–
TSBK	Exit	Timberland Bancorp	$0	–	-62,062	–	-0.38%	–
GE	Exit	General Electric	$0	–	-33,221	–	-0.39%	–
MSFT	Exit	Microsoft Corporation	$0	–	-17,612	–	-0.40%	–
APOL	Exit	Apollo Education Group	$0	–	-128,425	–	-0.40%	–
CIVB	Exit	Civista Bancshares	$0	–	-72,076	–	-0.40%	–
MRK	Exit	Merck	$0	–	-16,508	–	-0.40%	–
FCCO	Exit	First Community Corp	$0	–	-65,645	–	-0.41%	–
AAL	Exit	American Airlines Group	$0	–	-28,270	–	-0.41%	–
ALSK	Exit	Alaska Communications	$0	–	-603,735	–	-0.41%	–
CSAL	Exit	Communications Sales & Leasing	$0	–	-33,140	–	-0.41%	–
ENLC	Exit	EnLink Midstream LLC	$0	–	-62,926	–	-0.42%	–
PFBI	Exit	Premier Financial Bancorp	$0	–	-61,855	–	-0.42%	–
DD	Exit	Du Pont	$0	–	-15,850	–	-0.42%	–
OLN	Exit	Olin Corp	$0	–	-52,550	–	-0.42%	–
FBMS	Exit	First Bancshares	$0	–	-58,546	–	-0.44%	–
WMT	Exit	Wal-Mart Stores	$0	–	-15,494	–	-0.44%	–
ONB	Exit	Old National Bancorp	$0	–	-79,983	–	-0.44%	–
LCI	Exit	Lannett Company	$0	–	-44,665	–	-0.47%	–
EVBS	Exit	Eastern Virginia Bankshares	$0	–	-152,668	–	-0.48%	–
V	Exit	Visa	$0	–	-14,833	–	-0.48%	–
APLP	Exit	Archrock Partners LP	$0	–	-83,982	–	-0.49%	–
KE	Exit	Kimball Electronics	$0	–	-89,475	–	-0.49%	–
JPM	Exit	JPMorgan	$0	–	-19,049	–	-0.50%	–
HEROQ	Exit	Hercules Offshore	$0	–	-750,258	–	-0.51%	–
	Exit	Sunpowerconv bond	$0	–	-1,735,000	–	-0.52%	–
CAT	Exit	Caterpillar	$0	–	-14,890	–	-0.52%	–
PTQEP	Exit	PetroQuest Energyconv pref	$0	–	-72,622	–	-0.54%	–
	Exit	Jefferies Groupconv bond	$0	–	-1,362,000	–	-0.54%	–
TGP	Exit	Teekay LNG	$0	–	-91,142	–	-0.54%	–
DIS	Exit	Disney	$0	–	-15,498	–	-0.57%	–
	Exit	Royal Goldconv bond	$0	–	-1,295,000	–	-0.57%	–
SUP	Exit	Superior Industries	$0	–	-50,144	–	-0.58%	–
AYR	Exit	Aircastle LTD	$0	–	-74,657	–	-0.58%	–
PG	Exit	Procter & Gamble	$0	–	-16,657	–	-0.59%	–
UTX	Exit	United Technologies	$0	–	-14,833	–	-0.59%	–
	Exit	General Cable Corpconv bond	$0	–	-2,315,000	–	-0.60%	–
XOM	Exit	Exxon Mobil Corporation	$0	–	-18,453	–	-0.63%	–
SPAR	Exit	Spartan Motors	$0	–	-169,759	–	-0.64%	–
DKL	Exit	Delek Logistics Partners	$0	–	-58,550	–	-0.66%	–
TRV	Exit	Travelers Companies	$0	–	-14,905	–	-0.67%	–
	Exit	Greenbriarconv bond	$0	–	-1,537,000	–	-0.69%	–
	Exit	Cenveoconv bond	$0	–	-1,752,000	–	-0.69%	–
AAPL	Exit	Apple	$0	–	-15,767	–	-0.70%	–
CVX	Exit	Chevron Corporation	$0	–	-17,500	–	-0.71%	–
MCD	Exit	McDonald's Corp	$0	–	-16,152	–	-0.73%	–
PAGP	Exit	Plains GP Holdings	$0	–	-146,667	–	-0.75%	–
SFST	Exit	Southern First Bancshares	$0	–	-69,191	–	-0.75%	–
	Exit	Atlas Air Worldwide Holdingsconv bond	$0	–	-1,995,000	–	-0.76%	–
WTFPP	Exit	Wintrust Financialconv pref	$0	–	-1,452	–	-0.79%	–
	Exit	Quidel Corpconv bond	$0	–	-1,985,000	–	-0.79%	–
HD	Exit	Home Depot	$0	–	-15,656	–	-0.79%	–
	Exit	Navistar Intl Corpconv bond	$0	–	-2,145,000	–	-0.80%	–
JNJ	Exit	Johnson & Johnson	$0	–	-17,342	–	-0.81%	–
IRDDA	Exit	Iridium Communicationsconv pref	$0	–	-20,881	–	-0.81%	–
BA	Exit	Boeing	$0	–	-15,808	–	-0.82%	–
	Exit	Blucora Incconv bond	$0	–	-2,180,000	–	-0.82%	–
UNH	Exit	UnitedHealth Group	$0	–	-15,088	–	-0.83%	–
MBWM	Exit	Mercantile Bank Corp	$0	–	-79,583	–	-0.84%	–
TLLP	Exit	Tesoro Logistics	$0	–	-44,494	–	-0.85%	–
SBFG	Exit	SB Financial Group	$0	–	-170,769	–	-0.85%	–
	Exit	Newmont Miningconv bond	$0	–	-1,995,000	–	-0.86%	–
SMMF	Exit	Summit Financial Group	$0	–	-114,175	–	-0.86%	–
BGEPF	Exit	Bunge Ltdconv pref	$0	–	-23,397	–	-0.88%	–
	Exit	KB HOMEconv bond	$0	–	-2,330,000	–	-0.89%	–
	Exit	Prospect Capital Corpconv bond	$0	–	-2,219,000	–	-0.89%	–
	Exit	Titan Machineryconv bond	$0	–	-2,692,000	–	-0.92%	–
IBM	Exit	IBM	$0	–	-14,914	–	-0.93%	–
GS	Exit	Goldman Sachs	$0	–	-14,918	–	-0.95%	–
PSXP	Exit	Phillips 66 Partners	$0	–	-52,990	–	-1.01%	–
	Exit	Broadsoft Incconv bond	$0	–	-2,120,000	–	-1.03%	–
MMM	Exit	3M Co	$0	–	-15,070	–	-1.04%	–
SHLX	Exit	Shell Midstream Partners	$0	–	-85,088	–	-1.07%	–
AM	Exit	Antero Midstream Partners	$0	–	-104,715	–	-1.10%	–
HEP	Exit	Holly Energy Partners	$0	–	-84,223	–	-1.12%	–
	Exit	AK Steel Corporationconv bond	$0	–	-2,415,000	–	-1.16%	–
BANC	Exit	Banc of California	$0	–	-170,606	–	-1.17%	–
VTTI	Exit	VTTI Energy Partners	$0	–	-166,392	–	-1.24%	–
EPD	Exit	Enterprise Products	$0	–	-116,579	–	-1.27%	–
MPLX	Exit	MPLX	$0	–	-97,685	–	-1.30%	–
TRGP	Exit	Targa Resources Corp	$0	–	-73,380	–	-1.42%	–
AHGP	Exit	Alliance Holding GP	$0	–	-142,292	–	-1.46%	–
GEL	Exit	Genesis Energy	$0	–	-98,618	–	-1.47%	–
	Exit	EZCorp Incconv bond	$0	–	-3,905,000	–	-1.50%	–
QCRH	Exit	QCR Holdings	$0	–	-124,405	–	-1.55%	–
ENLK	Exit	EnLink Midstream Partners	$0	–	-223,931	–	-1.56%	–
	Exit	Alaska Communicationsconv bond	$0	–	-4,070,000	–	-1.57%	–
RMP	Exit	Rice Midstream Partners	$0	–	-226,903	–	-2.17%	–
OKE	Exit	ONEOK Inc	$0	–	-109,589	–	-2.22%	–
MMP	Exit	Magellan Midstream	$0	–	-87,132	–	-2.43%	–
WMB	Exit	Williams Companies	$0	–	-210,273	–	-2.54%	–
NGL	Exit	NGL Energy Partners	$0	–	-356,315	–	-2.64%	–
DIA	Exit	SPDR Dow Jones Industrial Average	$0	–	-41,209	–	-2.96%	–
	Exit	Enbridge Energy	$0	–	-198,973	–	-3.46%	–

Q3 2016

			Value		Shares		↓ Weighting
	New	Enbridge Energy	$8,800,576,000	–	198,973	–	3.46%	–
DIA	Sell	SPDR Dow Jones Industrial Average	$7,532,194,000	-3.3%	41,209	-5.3%	2.96%	-11.0%
NGL	Buy	NGL Energy Partners	$6,712,969,000	-2.0%	356,315	+0.5%	2.64%	-9.7%
WMB	Sell	Williams Companies	$6,461,680,000	+41.7%	210,273	-0.3%	2.54%	+30.4%
MMP	Buy	Magellan Midstream	$6,163,718,000	-6.9%	87,132	+0.1%	2.43%	-14.2%
OKE	Sell	ONEOK Inc	$5,631,780,000	+7.9%	109,589	-0.4%	2.22%	-0.7%
RMP	Sell	Rice Midstream Partners	$5,504,667,000	+18.2%	226,903	-0.4%	2.17%	+8.8%
	New	Alaska Communicationsconv bond	$3,998,775,000	–	4,070,000	–	1.57%	–
ENLK	Sell	EnLink Midstream Partners	$3,965,818,000	+6.2%	223,931	-0.3%	1.56%	-2.3%
QCRH	Sell	QCR Holdings	$3,948,599,000	+16.1%	124,405	-0.5%	1.55%	+6.9%
	New	EZCorp Incconv bond	$3,824,459,000	–	3,905,000	–	1.50%	–
GEL	Buy	Genesis Energy	$3,744,525,000	-0.7%	98,618	+0.4%	1.47%	-8.5%
AHGP	Buy	Alliance Holding GP	$3,706,707,000	+24.1%	142,292	+0.3%	1.46%	+14.3%
TRGP	Sell	Targa Resources Corp	$3,603,712,000	+14.7%	73,380	-1.6%	1.42%	+5.6%
MPLX	Buy	MPLX	$3,307,615,000	+2.3%	97,685	+1.6%	1.30%	-5.8%
EPD	Buy	Enterprise Products	$3,221,078,000	-5.4%	116,579	+0.2%	1.27%	-12.9%
VTTI	Buy	VTTI Energy Partners	$3,163,112,000	-5.1%	166,392	+1.4%	1.24%	-12.6%
BANC	Sell	Banc of California	$2,978,776,000	-4.0%	170,606	-0.4%	1.17%	-11.6%
	New	AK Steel Corporationconv bond	$2,935,505,000	–	2,415,000	–	1.16%	–
HEP	Buy	Holly Energy Partners	$2,857,686,000	-2.0%	84,223	+0.1%	1.12%	-9.7%
AM	Buy	Antero Midstream Partners	$2,795,891,000	-3.3%	104,715	+1.0%	1.10%	-11.0%
SHLX	Buy	Shell Midstream Partners	$2,729,623,000	-3.9%	85,088	+1.2%	1.07%	-11.6%
MMM	Sell	3M Co	$2,655,755,000	-0.8%	15,070	-1.4%	1.04%	-8.7%
	New	Broadsoft Incconv bond	$2,610,759,000	–	2,120,000	–	1.03%	–
PSXP	Buy	Phillips 66 Partners	$2,575,314,000	-11.7%	52,990	+1.6%	1.01%	-18.7%
GS	Sell	Goldman Sachs	$2,405,826,000	+7.3%	14,918	-1.2%	0.95%	-1.3%
IBM	Sell	IBM	$2,369,089,000	+3.4%	14,914	-1.2%	0.93%	-4.8%
	New	Titan Machineryconv bond	$2,350,391,000	–	2,692,000	–	0.92%	–
	New	Prospect Capital Corpconv bond	$2,266,930,000	–	2,219,000	–	0.89%	–
	New	KB HOMEconv bond	$2,261,358,000	–	2,330,000	–	0.89%	–
BGEPF	Sell	Bunge Ltdconv pref	$2,225,221,000	-0.9%	23,397	-3.6%	0.88%	-8.8%
SMMF	Sell	Summit Financial Group	$2,187,593,000	+9.3%	114,175	-0.2%	0.86%	+0.6%
	New	Newmont Miningconv bond	$2,181,393,000	–	1,995,000	–	0.86%	–
SBFG	Sell	SB Financial Group	$2,168,772,000	+16.7%	170,769	-0.2%	0.85%	+7.3%
TLLP	Buy	Tesoro Logistics	$2,155,289,000	-1.4%	44,494	+0.8%	0.85%	-9.3%
MBWM	Sell	Mercantile Bank Corp	$2,136,790,000	+11.5%	79,583	-0.9%	0.84%	+2.7%
UNH	Sell	UnitedHealth Group	$2,112,320,000	-2.6%	15,088	-1.8%	0.83%	-10.4%
	New	Blucora Incconv bond	$2,090,424,000	–	2,180,000	–	0.82%	–
BA	Sell	Boeing	$2,082,546,000	+0.3%	15,808	-1.1%	0.82%	-7.6%
IRDDA	Sell	Iridium Communicationsconv pref	$2,047,591,000	-4.0%	20,881	-0.7%	0.81%	-11.6%
JNJ	Sell	Johnson & Johnson	$2,048,610,000	-5.2%	17,342	-2.7%	0.81%	-12.8%
	New	Navistar Intl Corpconv bond	$2,038,007,000	–	2,145,000	–	0.80%	–
HD	Sell	Home Depot	$2,014,614,000	-0.7%	15,656	-1.5%	0.79%	-8.5%
	New	Quidel Corpconv bond	$2,008,403,000	–	1,985,000	–	0.79%	–
WTFPP	Sell	Wintrust Financialconv pref	$2,001,038,000	+4.5%	1,452	-0.3%	0.79%	-3.8%
	New	Atlas Air Worldwide Holdingsconv bond	$1,937,620,000	–	1,995,000	–	0.76%	–
SFST	Sell	Southern First Bancshares	$1,908,288,000	+13.6%	69,191	-0.7%	0.75%	+4.6%
PAGP	Sell	Plains GP Holdings	$1,897,871,000	+23.4%	146,667	-0.5%	0.75%	+13.7%
MCD	Sell	McDonald's Corp	$1,863,295,000	-4.8%	16,152	-0.7%	0.73%	-12.3%
CVX	Sell	Chevron Corporation	$1,801,132,000	-3.7%	17,500	-1.9%	0.71%	-11.3%
AAPL	Sell	Apple	$1,782,493,000	+13.4%	15,767	-4.1%	0.70%	+4.3%
	New	Cenveoconv bond	$1,762,950,000	–	1,752,000	–	0.69%	–
	New	Greenbriarconv bond	$1,742,174,000	–	1,537,000	–	0.69%	–
TRV	Sell	Travelers Companies	$1,707,368,000	-4.9%	14,905	-1.2%	0.67%	-12.5%
DKL	New	Delek Logistics Partners	$1,673,359,000	–	58,550	–	0.66%	–
SPAR	Sell	Spartan Motors	$1,626,291,000	+50.7%	169,759	-1.6%	0.64%	+38.8%
XOM	Buy	Exxon Mobil Corporation	$1,610,578,000	-6.5%	18,453	+0.4%	0.63%	-13.9%
	New	General Cable Corpconv bond	$1,525,307,000	–	2,315,000	–	0.60%	–
UTX	Sell	United Technologies	$1,507,033,000	-2.7%	14,833	-1.8%	0.59%	-10.4%
PG	Sell	Procter & Gamble	$1,494,966,000	+3.8%	16,657	-2.1%	0.59%	-4.5%
AYR	Sell	Aircastle LTD	$1,482,688,000	+1.0%	74,657	-0.5%	0.58%	-7.0%
SUP	Sell	Superior Industries	$1,462,190,000	+7.7%	50,144	-1.1%	0.58%	-1.0%
	New	Royal Goldconv bond	$1,451,514,000	–	1,295,000	–	0.57%	–
DIS	Sell	Disney	$1,439,105,000	-5.8%	15,498	-0.8%	0.57%	-13.3%
TGP	Buy	Teekay LNG	$1,378,978,000	+34.7%	91,142	+0.1%	0.54%	+24.0%
	New	Jefferies Groupconv bond	$1,380,074,000	–	1,362,000	–	0.54%	–
PTQEP	Sell	PetroQuest Energyconv pref	$1,363,478,000	-16.4%	72,622	-0.5%	0.54%	-23.0%
CAT	Sell	Caterpillar	$1,321,785,000	+16.4%	14,890	-0.6%	0.52%	+7.2%
	New	Sunpowerconv bond	$1,317,559,000	–	1,735,000	–	0.52%	–
HEROQ	Buy	Hercules Offshore	$1,297,946,000	+24.8%	750,258	+0.3%	0.51%	+14.8%
JPM	Sell	JPMorgan	$1,268,473,000	+5.1%	19,049	-1.9%	0.50%	-3.3%
KE	Sell	Kimball Electronics	$1,240,124,000	+10.3%	89,475	-0.9%	0.49%	+1.5%
APLP	Sell	Archrock Partners LP	$1,236,215,000	+8.3%	83,982	-0.4%	0.49%	-0.4%
EVBS	Sell	Eastern Virginia Bankshares	$1,227,455,000	+6.3%	152,668	-0.2%	0.48%	-2.2%
V	Sell	Visa	$1,226,689,000	+10.2%	14,833	-1.2%	0.48%	+1.5%
LCI	Buy	Lannett Company	$1,186,749,000	+13.6%	44,665	+1.7%	0.47%	+4.5%
ONB	Sell	Old National Bancorp	$1,124,560,000	+11.9%	79,983	-0.3%	0.44%	+3.0%
WMT	Sell	Wal-Mart Stores	$1,117,427,000	-1.7%	15,494	-0.5%	0.44%	-9.5%
FBMS	Sell	First Bancshares	$1,110,032,000	+10.2%	58,546	-0.1%	0.44%	+1.4%
OLN	Buy	Olin Corp	$1,078,317,000	-17.2%	52,550	+0.2%	0.42%	-23.9%
DD	Sell	Du Pont	$1,061,475,000	+0.9%	15,850	-2.4%	0.42%	-7.1%
PFBI	Sell	Premier Financial Bancorp	$1,060,202,000	+1.5%	61,855	-0.2%	0.42%	-6.7%
ENLC	Sell	EnLink Midstream LLC	$1,054,012,000	+5.1%	62,926	-0.2%	0.42%	-3.3%
ALSK	Buy	Alaska Communications	$1,038,424,000	+1.6%	603,735	+0.4%	0.41%	-6.4%
FCCO	Sell	First Community Corp	$1,033,909,000	+12.1%	65,645	-0.4%	0.41%	+3.3%
MRK	Sell	Merck	$1,030,264,000	+5.9%	16,508	-2.3%	0.40%	-2.6%
APOL	Buy	Apollo Education Group	$1,020,979,000	-12.5%	128,425	+0.4%	0.40%	-19.4%
CIVB	Buy	Civista Bancshares	$1,022,038,000	+26.8%	72,076	+17.1%	0.40%	+16.5%
MSFT	Sell	Microsoft Corporation	$1,014,456,000	+11.8%	17,612	-0.7%	0.40%	+2.8%
GE	Sell	General Electric	$983,997,000	-6.7%	33,221	-0.8%	0.39%	-14.2%
TSBK	Sell	Timberland Bancorp	$977,477,000	+4.6%	62,062	-0.4%	0.38%	-3.5%
AXP	Sell	American Express	$952,531,000	+4.2%	14,874	-1.2%	0.38%	-4.1%
IRDM	Buy	Iridium Communications	$948,659,000	-6.9%	116,974	+2.0%	0.37%	-14.3%
VZ	Sell	Verizon Communications	$944,944,000	-7.6%	18,179	-0.7%	0.37%	-14.9%
MFSF	Sell	MutualFirst Financial	$937,539,000	+1.0%	33,810	-0.4%	0.37%	-7.1%
KMI	Sell	Kinder Morgan	$916,021,000	+22.7%	39,603	-0.7%	0.36%	+12.9%
DOOR	Sell	Masonite International	$914,023,000	-6.5%	14,702	-0.5%	0.36%	-13.9%
	New	Invensenseconv bond	$875,962,000	–	915,000	–	0.34%	–
CVLY	Sell	Codorus Bancorp	$874,160,000	+7.1%	39,952	-0.3%	0.34%	-1.4%
HVT	Sell	Haverty Furniture	$872,341,000	+10.0%	43,530	-1.0%	0.34%	+1.2%
IBCP	Sell	Independent Bank Corp	$871,757,000	+15.4%	51,798	-0.5%	0.34%	+6.2%
PFBX	Buy	Peoples Financial	$866,562,000	+3.9%	81,291	+0.4%	0.34%	-4.2%
LOCO	Sell	El Pollo Loco Holdings	$863,611,000	-3.3%	68,595	-0.1%	0.34%	-11.0%
UBOH	Sell	United Bancshares	$860,865,000	+12.0%	43,065	-0.3%	0.34%	+3.0%
MDC	Sell	MDC Holdings	$843,712,000	+4.9%	32,702	-1.1%	0.33%	-3.5%
	New	Cenveoconv bond	$829,664,000	–	880,000	–	0.33%	–
BKS	Buy	Barnes & Noble	$810,938,000	+0.4%	71,764	+0.8%	0.32%	-7.5%
NCBS	Sell	Nicolet Bankshares	$794,924,000	+3.5%	21,052	-0.3%	0.31%	-4.6%
NKE	Sell	Nike	$783,485,000	-5.2%	14,881	-0.6%	0.31%	-12.7%
MDR	Sell	McDermott International	$774,937,000	+1.0%	154,678	-0.4%	0.30%	-7.0%
	New	Sunpower Corpconv bond	$761,250,000	–	1,000,000	–	0.30%	–
TK	Buy	Teekay Inc	$757,484,000	+10.0%	98,247	+1.8%	0.30%	+1.4%
HMNF	Sell	HMN Financial	$704,574,000	+6.8%	48,275	-0.6%	0.28%	-1.8%
PFE	Sell	Pfizer	$702,023,000	-4.4%	20,727	-0.6%	0.28%	-12.1%
TRCB	Sell	Two River Bancorp	$690,175,000	+5.7%	59,911	-0.3%	0.27%	-2.5%
	New	RAIT Financialconv bond	$683,663,000	–	745,000	–	0.27%	–
KO	Sell	Coca-Cola Company	$678,897,000	-8.8%	16,042	-2.3%	0.27%	-16.0%
ASRV	Sell	AmeriServ Financial	$655,150,000	+9.7%	197,334	-0.3%	0.26%	+1.2%
FSBK	Sell	First South Bancorp	$648,694,000	+6.2%	65,215	-0.3%	0.26%	-2.3%
INTC	Sell	Intel	$637,673,000	+12.0%	16,892	-2.7%	0.25%	+2.9%
BAC	Buy	Bank of America	$635,578,000	+18.9%	40,612	+0.8%	0.25%	+9.2%
PKBK	New	Parke Bancorp	$611,323,000	–	40,536	–	0.24%	–
RAIL	Buy	FreightCar America	$603,946,000	+3.2%	41,999	+0.8%	0.24%	-4.8%
ARCB	Sell	Arcbest Corp	$591,093,000	+16.6%	31,077	-0.4%	0.23%	+7.4%
MSFG	Buy	MainSource Financial	$524,971,000	+13.2%	21,041	+0.0%	0.21%	+4.5%
UIS	Buy	Unisys Corp	$516,951,000	+38.0%	53,075	+3.1%	0.20%	+26.9%
CSCO	Sell	Cisco Systems	$497,814,000	+9.3%	15,694	-1.1%	0.20%	+0.5%
RCII	Buy	Rent-A-Center	$489,800,000	+4.6%	38,750	+1.6%	0.19%	-3.5%
ZION	Sell	Zions Bancorp	$476,188,000	+22.9%	15,351	-0.4%	0.19%	+12.7%
CFG	Sell	Citizens Financial Group	$459,482,000	+22.9%	18,595	-0.6%	0.18%	+13.1%
SLYV	Sell	SPDR S&P 600 Small Cap Value ETF	$456,628,000	+6.2%	4,258	-0.9%	0.18%	-2.2%
CTRA	New	Contura Energy	$417,500,000	–	10,000	–	0.16%	–
XRM	Sell	Xerium Technologies	$408,062,000	+23.8%	51,328	-0.6%	0.16%	+14.2%
FMCKI	Buy	Freddie Macpref stk	$355,920,000	-34.6%	148,300	+0.4%	0.14%	-39.9%
PAA	Sell	Plains All American Pipeline	$354,713,000	+10.4%	11,293	-3.4%	0.14%	+2.2%
C	Buy	Citigroup	$305,295,000	+13.3%	6,464	+1.7%	0.12%	+4.3%
HFBC	Sell	HopFed Bancorp	$278,433,000	-3.6%	24,860	-0.2%	0.11%	-10.6%
FBNC	Sell	First Bancorp	$247,149,000	+11.5%	12,489	-0.9%	0.10%	+2.1%
ET	Sell	Energy Transfer Equity	$214,151,000	+13.4%	12,755	-2.9%	0.08%	+3.7%
T	Sell	A T & T	$204,025,000	-6.1%	5,024	-0.1%	0.08%	-14.0%
TIP	Buy	iShares Barclays TIPS Bond	$163,284,000	-0.1%	1,402	+0.1%	0.06%	-8.6%
CVO	Sell	Cenveo	$109,663,000	+25.2%	15,555	-85.5%	0.04%	+16.2%
SCHO	Buy	Schwab Short-Term U.S. Treasury ETF	$106,763,000	+0.9%	2,102	+1.2%	0.04%	-6.7%
HWBK	New	Hawthorn Bancshares	$94,398,000	–	6,190	–	0.04%	–
ZIONW	Buy	Zions Bancorp	$90,874,000	+320.7%	22,438	+124.4%	0.04%	+300.0%
FUNC	New	First United Corp	$92,454,000	–	7,468	–	0.04%	–
	Buy	Bank of America	$83,160,000	+696.6%	18,000	+500.0%	0.03%	+725.0%
F	Buy	Ford	$68,827,000	-3.9%	5,702	+0.1%	0.03%	-12.9%
	New	Horsehead Holdingconv bond	$52,700,000	–	5,270,000	–	0.02%	–
GNK	Sell	Genco Shipping	$50,753,000	-46.6%	11,081	-93.3%	0.02%	-51.2%
MMLP	Sell	Martin Midstream Partners	$39,980,000	-97.3%	1,995	-96.9%	0.02%	-97.5%
CWSA	Buy	Citigroup Inc	$40,308,000	+12.1%	772,183	+26.3%	0.02%	+6.7%
EOG	Buy	EOG Resources	$32,495,000	+27.7%	336	+10.2%	0.01%	+18.2%
LGIH	Sell	LGI Homes	$22,104,000	-30.8%	600	-40.0%	0.01%	-35.7%
NNA	New	Navios Maritime Acquisition	$12,150,000	–	9,000	–	0.01%	–
	New	Cal Dive Internationalconv bond	$11,375,000	–	4,550,000	–	0.00%	–
AKS	Sell	AK Steel	$9,660,000	-30.9%	2,000	-33.3%	0.00%	-33.3%
WIN	Sell	Windstream Holdings	$5,025,000	-97.6%	500	-97.8%	0.00%	-97.8%
CBF	Sell	Capital Bank Financial	$3,147,000	-76.9%	98	-79.3%	0.00%	-83.3%
OKSB	Sell	Southwest Bancorp	$3,798,000	-68.0%	200	-71.4%	0.00%	-80.0%
SDRPQ	Exit	Sandridge Energyconv pref	$0	–	-9,240	–	0.00%	–
SDOCQ	Exit	SandRidge Energy	$0	–	-89,507	–	0.00%	–
WLL	Exit	Whiting Petroleum	$0	–	-150	–	-0.00%	–
FNFG	Exit	First Niagara Financial	$0	–	-180	–	-0.00%	–
AOI	Exit	Alliance One	$0	–	-200	–	-0.00%	–
EXIXQ	Exit	Energy XXIconv pref	$0	–	-4,500	–	-0.00%	–
DAKT	Exit	Daktronics	$0	–	-350	–	-0.00%	–
HBAN	Exit	Huntington Bancshares	$0	–	-394	–	-0.00%	–
SPWR	Exit	SunPower Corporation	$0	–	-236	–	-0.00%	–
MTH	Exit	Meritage Homes	$0	–	-100	–	-0.00%	–
WEBC	Exit	Webco Industries	$0	–	-100	–	-0.00%	–
AMLP	Exit	Alerian MLP	$0	–	-580	–	-0.00%	–
CLNY	Exit	Colony Capital	$0	–	-400	–	-0.00%	–
SXL	Exit	Sunoco Logistics Partners	$0	–	-320	–	-0.00%	–
FSFG	Exit	First Savings Financial	$0	–	-320	–	-0.01%	–
BNCN	Exit	BNC Bancorp	$0	–	-500	–	-0.01%	–
SVU	Exit	SUPERVALU	$0	–	-2,600	–	-0.01%	–
SM	Exit	SM Energy	$0	–	-505	–	-0.01%	–
IP	Exit	International Paper	$0	–	-365	–	-0.01%	–
ATLS	Exit	Atlas Energy Group	$0	–	-36,290	–	-0.01%	–
VRX	Exit	Valeant Pharma	$0	–	-991	–	-0.01%	–
MLPI	Exit	UBS ETRACS Alerian MLP	$0	–	-1,635	–	-0.01%	–
WPX	Exit	WPX Energy	$0	–	-4,630	–	-0.02%	–
GWB	Exit	Great Western Bancorp	$0	–	-1,490	–	-0.02%	–
MO	Exit	Altria Group	$0	–	-852	–	-0.02%	–
	Exit	Horsehead Holdingconv bond	$0	–	-5,280,000	–	-0.14%	–
	Exit	RAIT Financialconv bond	$0	–	-760,000	–	-0.29%	–
	Exit	Cenveo Corpconv bond	$0	–	-890,000	–	-0.34%	–
	Exit	Invensenseconv bond	$0	–	-925,000	–	-0.37%	–
SBFC	Exit	Southeastern Bank Financial	$0	–	-21,541	–	-0.44%	–
	Exit	Sunpower Corpconv bond	$0	–	-1,500,000	–	-0.52%	–
	Exit	General Cableconv bond	$0	–	-2,330,000	–	-0.57%	–
	Exit	Royal Goldconv bond	$0	–	-1,300,000	–	-0.60%	–
	Exit	Jefferies Groupconv bond	$0	–	-1,387,000	–	-0.60%	–
	Exit	Navistar Intlconv bond	$0	–	-2,155,000	–	-0.61%	–
RRMS	Exit	Rose Rock Midstream	$0	–	-56,788	–	-0.64%	–
	Exit	Greenbriarconv bond	$0	–	-1,692,000	–	-0.78%	–
	Exit	Quidel Corpconv bond	$0	–	-1,965,000	–	-0.78%	–
	Exit	Atlas Air Worldwideconv bond	$0	–	-2,005,000	–	-0.83%	–
	Exit	Blucora Incconv bond	$0	–	-2,195,000	–	-0.87%	–
	Exit	Titan Machineryconv bond	$0	–	-2,702,000	–	-0.95%	–
	Exit	KB HOMEconv bond	$0	–	-2,345,000	–	-0.96%	–
	Exit	Newmont Miningconv bond	$0	–	-2,015,000	–	-0.96%	–
	Exit	Prospect Capital Corpconv bond	$0	–	-2,239,000	–	-0.97%	–
	Exit	Broadsoftconv bond	$0	–	-2,175,000	–	-1.07%	–
	Exit	AK Steel Corporationconv bond	$0	–	-2,430,000	–	-1.18%	–
	Exit	EZCorp Incconv bond	$0	–	-3,915,000	–	-1.39%	–
	Exit	Alaska Communicationsconv bond	$0	–	-4,105,000	–	-1.70%	–

Q2 2016

			Value		Shares		↓ Weighting
DIA	New	SPDR Dow Jones Industrial	$7,792,353,000	–	43,533	–	3.33%	–
NGL	New	NGL Energy Partners	$6,847,833,000	–	354,443	–	2.93%	–
MMP	New	Magellan Midstream	$6,618,232,000	–	87,082	–	2.83%	–
OKE	New	ONEOK Inc	$5,221,256,000	–	110,037	–	2.23%	–
RMP	New	Rice Midstream LP	$4,655,343,000	–	227,868	–	1.99%	–
WMB	New	Williams Companies	$4,561,392,000	–	210,883	–	1.95%	–
	New	Alaska Communicationsconv bond	$3,963,891,000	–	4,105,000	–	1.70%	–
GEL	New	Genesis Energy	$3,769,200,000	–	98,233	–	1.61%	–
ENLK	New	EnLink Midstream Partners	$3,734,865,000	–	224,586	–	1.60%	–
EPD	New	Enterprise Products Partners	$3,405,191,000	–	116,377	–	1.46%	–
QCRH	New	QCR Holdings	$3,400,659,000	–	125,070	–	1.45%	–
VTTI	New	VTTI Energy Partners	$3,332,387,000	–	164,157	–	1.42%	–
	New	EZCorp Incconv bond	$3,247,003,000	–	3,915,000	–	1.39%	–
MPLX	New	MPLX LP	$3,233,547,000	–	96,151	–	1.38%	–
TRGP	New	Targa Resources	$3,141,976,000	–	74,560	–	1.34%	–
BANC	New	Banc of California	$3,101,615,000	–	171,360	–	1.33%	–
AHGP	New	Alliance Holdings GP	$2,985,723,000	–	141,907	–	1.28%	–
PSXP	New	Phillips 66 Partners	$2,915,297,000	–	52,180	–	1.25%	–
HEP	New	Holly Energy Partners	$2,914,689,000	–	84,118	–	1.25%	–
AM	New	Antero Midstream LP	$2,890,119,000	–	103,700	–	1.24%	–
SHLX	New	Shell Midstream Partners	$2,841,671,000	–	84,098	–	1.22%	–
	New	AK Steel Corporationconv bond	$2,773,067,000	–	2,430,000	–	1.18%	–
MMM	New	3M	$2,677,646,000	–	15,290	–	1.14%	–
	New	Broadsoftconv bond	$2,498,879,000	–	2,175,000	–	1.07%	–
IBM	New	IBM	$2,290,512,000	–	15,091	–	0.98%	–
	New	Prospect Capital Corpconv bond	$2,269,115,000	–	2,239,000	–	0.97%	–
	New	Newmont Miningconv bond	$2,250,856,000	–	2,015,000	–	0.96%	–
BGEPF	New	Bunge Ltdconv pref	$2,245,588,000	–	24,274	–	0.96%	–
	New	KB HOMEconv bond	$2,246,533,000	–	2,345,000	–	0.96%	–
GS	New	Goldman Sachs	$2,242,815,000	–	15,095	–	0.96%	–
	New	Titan Machineryconv bond	$2,228,901,000	–	2,702,000	–	0.95%	–
TLLP	New	Tesoro Logistics	$2,186,948,000	–	44,154	–	0.94%	–
UNH	New	UnitedHealth Group	$2,168,408,000	–	15,357	–	0.93%	–
JNJ	New	Johnson & Johnson	$2,161,081,000	–	17,816	–	0.92%	–
IRDDA	New	Iridium Communicationsconv pref	$2,133,197,000	–	21,025	–	0.91%	–
BA	New	Boeing	$2,075,972,000	–	15,985	–	0.89%	–
	New	Blucora Incconv bond	$2,030,375,000	–	2,195,000	–	0.87%	–
HD	New	Home Depot	$2,028,611,000	–	15,887	–	0.87%	–
SMMF	New	Summit Financial Group	$2,001,388,000	–	114,365	–	0.86%	–
MCD	New	McDonald's	$1,956,488,000	–	16,258	–	0.84%	–
	New	Atlas Air Worldwideconv bond	$1,942,364,000	–	2,005,000	–	0.83%	–
MBWM	New	Mercantile Bank	$1,916,717,000	–	80,332	–	0.82%	–
WTFPP	New	Wintrust Financialconv pref	$1,914,134,000	–	1,457	–	0.82%	–
CVX	New	Chevron	$1,870,068,000	–	17,839	–	0.80%	–
SBFG	New	SB Financial Group	$1,859,112,000	–	171,031	–	0.80%	–
	New	Quidel Corpconv bond	$1,826,187,000	–	1,965,000	–	0.78%	–
	New	Greenbriarconv bond	$1,821,438,000	–	1,692,000	–	0.78%	–
TRV	New	Travelers	$1,795,361,000	–	15,082	–	0.77%	–
XOM	New	Exxon Mobil	$1,722,285,000	–	18,373	–	0.74%	–
SFST	New	Southern First Bancshares	$1,679,505,000	–	69,689	–	0.72%	–
PTQEP	New	PetroQuest Energyconv pref	$1,631,126,000	–	72,967	–	0.70%	–
AAPL	New	Apple	$1,571,920,000	–	16,443	–	0.67%	–
UTX	New	United Technologies	$1,548,505,000	–	15,100	–	0.66%	–
PAGP	New	Plains GP Holdings	$1,537,716,000	–	147,432	–	0.66%	–
DIS	New	Walt Disney	$1,527,588,000	–	15,616	–	0.65%	–
RRMS	New	Rose Rock Midstream	$1,498,635,000	–	56,788	–	0.64%	–
MMLP	New	Martin Midstream LP	$1,495,633,000	–	64,746	–	0.64%	–
AYR	New	Aircastle LTD	$1,467,567,000	–	75,029	–	0.63%	–
PG	New	Procter & Gamble	$1,439,898,000	–	17,006	–	0.62%	–
	New	Navistar Intlconv bond	$1,434,950,000	–	2,155,000	–	0.61%	–
	New	Jefferies Groupconv bond	$1,400,593,000	–	1,387,000	–	0.60%	–
	New	Royal Goldconv bond	$1,395,862,000	–	1,300,000	–	0.60%	–
SUP	New	Superior Industries	$1,357,979,000	–	50,709	–	0.58%	–
	New	General Cableconv bond	$1,329,731,000	–	2,330,000	–	0.57%	–
OLN	New	Olin Corp	$1,302,226,000	–	52,425	–	0.56%	–
	New	Sunpower Corpconv bond	$1,213,200,000	–	1,500,000	–	0.52%	–
JPM	New	JPMorgan Chase	$1,207,132,000	–	19,426	–	0.52%	–
APOL	New	Apollo Education	$1,166,995,000	–	127,960	–	0.50%	–
EVBS	New	Eastern Virginia Banks	$1,154,869,000	–	152,963	–	0.49%	–
APLP	New	Archrock Partners LP	$1,141,178,000	–	84,282	–	0.49%	–
WMT	New	Wal-Mart	$1,137,067,000	–	15,572	–	0.49%	–
CAT	New	Caterpillar	$1,135,558,000	–	14,979	–	0.48%	–
KE	New	Kimball Electronics	$1,124,111,000	–	90,290	–	0.48%	–
V	New	Visa	$1,113,292,000	–	15,010	–	0.48%	–
SPAR	New	Spartan Motors	$1,079,468,000	–	172,439	–	0.46%	–
GE	New	General Electric	$1,054,178,000	–	33,487	–	0.45%	–
DD	New	Du Pont	$1,052,093,000	–	16,236	–	0.45%	–
PFBI	New	Premier Financial	$1,044,689,000	–	61,999	–	0.45%	–
LCI	New	Lannett Company	$1,044,619,000	–	43,910	–	0.45%	–
HEROQ	New	Hercules Offshore	$1,040,079,000	–	748,258	–	0.44%	–
SBFC	New	Southeastern Bank Financial	$1,033,968,000	–	21,541	–	0.44%	–
TGP	New	Teekay LNG Partners	$1,023,885,000	–	91,012	–	0.44%	–
ALSK	New	Alaska Communications	$1,022,499,000	–	601,470	–	0.44%	–
VZ	New	Verizon	$1,022,765,000	–	18,316	–	0.44%	–
IRDM	New	Iridium Communications	$1,018,616,000	–	114,709	–	0.44%	–
FBMS	New	First Bancshares	$1,007,593,000	–	58,581	–	0.43%	–
ONB	New	Old National Bancorp	$1,004,795,000	–	80,191	–	0.43%	–
ENLC	New	EnLink Midstream LLC	$1,002,904,000	–	63,036	–	0.43%	–
DOOR	New	Masonite Int	$977,681,000	–	14,782	–	0.42%	–
MRK	New	Merck	$973,263,000	–	16,894	–	0.42%	–
IRDMB	New	Iridium Communicationsconv pref	$972,540,000	–	3,000	–	0.42%	–
CSAL	New	Communications Sales	$957,746,000	–	33,140	–	0.41%	–
TSBK	New	Timberland Bancorp	$934,305,000	–	62,287	–	0.40%	–
MFSF	New	MutualFirst Fin	$927,958,000	–	33,929	–	0.40%	–
FCCO	New	First Community	$922,011,000	–	65,905	–	0.39%	–
AXP	New	American Express	$914,499,000	–	15,051	–	0.39%	–
MSFT	New	Microsoft	$907,247,000	–	17,730	–	0.39%	–
LOCO	New	El Pollo Loco Holdings	$892,970,000	–	68,690	–	0.38%	–
	New	Invensenseconv bond	$863,950,000	–	925,000	–	0.37%	–
PFBX	New	Peoples Financial	$833,764,000	–	80,948	–	0.36%	–
NKE	New	Nike	$826,068,000	–	14,965	–	0.35%	–
CVLY	New	Codorus Bancorp	$816,019,000	–	40,060	–	0.35%	–
CIVB	New	Civista Bancshares	$806,331,000	–	61,552	–	0.34%	–
BKS	New	Barnes & Noble	$808,057,000	–	71,194	–	0.34%	–
MDC	New	MDC Holdings	$804,486,000	–	33,052	–	0.34%	–
PEBK	New	Peoples Bancorp of NC	$802,853,000	–	40,941	–	0.34%	–
AAL	New	American Airlines Group	$800,324,000	–	28,270	–	0.34%	–
HVT	New	Haverty Furniture	$793,050,000	–	43,985	–	0.34%	–
	New	Cenveo Corpconv bond	$791,197,000	–	890,000	–	0.34%	–
UBOH	New	United Bancshares	$768,945,000	–	43,199	–	0.33%	–
MDR	New	McDermott	$767,147,000	–	155,293	–	0.33%	–
NCBS	New	Nicolet Bankshares	$767,843,000	–	21,112	–	0.33%	–
IBCP	New	Independent Bank Corp	$755,344,000	–	52,057	–	0.32%	–
KMI	New	Kinder Morgan	$746,693,000	–	39,887	–	0.32%	–
KO	New	Coca-Cola	$744,591,000	–	16,426	–	0.32%	–
PFE	New	Pfizer	$734,023,000	–	20,847	–	0.31%	–
TK	New	Teekay Inc	$688,416,000	–	96,552	–	0.29%	–
	New	RAIT Financialconv bond	$680,227,000	–	760,000	–	0.29%	–
HMNF	New	HMN Financial	$659,852,000	–	48,590	–	0.28%	–
TRCB	New	Two River Bancorp	$652,805,000	–	60,111	–	0.28%	–
FSBK	New	First South Bancorp	$610,976,000	–	65,415	–	0.26%	–
ASRV	New	AmeriServ	$597,483,000	–	197,842	–	0.26%	–
RAIL	New	FreightCar America	$585,168,000	–	41,649	–	0.25%	–
INTC	New	Intel	$569,605,000	–	17,366	–	0.24%	–
FMCKI	New	Freddie Macpref stk	$544,153,000	–	147,667	–	0.23%	–
BAC	New	Bank of America	$534,569,000	–	40,284	–	0.23%	–
FRME	New	First Merchants	$512,785,000	–	20,569	–	0.22%	–
AF	New	Astoria Financial	$508,803,000	–	33,190	–	0.22%	–
ARCB	New	Arcbest Corp	$507,040,000	–	31,202	–	0.22%	–
RCII	New	Rent-A-Center	$468,482,000	–	38,150	–	0.20%	–
MSFG	New	MainSource Financial	$463,938,000	–	21,040	–	0.20%	–
CSCO	New	Cisco Systems	$455,339,000	–	15,871	–	0.20%	–
SLYV	New	SPDR S&P 600 Small Cap	$430,092,000	–	4,298	–	0.18%	–
STI	New	SunTrust Banks	$430,798,000	–	10,487	–	0.18%	–
IYF	New	iShares DJ US Financial	$410,278,000	–	4,774	–	0.18%	–
ZION	New	Zions Bancorp	$387,404,000	–	15,416	–	0.17%	–
CFG	New	Citizens Financial Group	$373,726,000	–	18,705	–	0.16%	–
UIS	New	Unisys	$374,702,000	–	51,470	–	0.16%	–
CVCY	New	Central Valley Comm Bancorp	$349,328,000	–	24,952	–	0.15%	–
XRM	New	Xerium Technologies	$329,517,000	–	51,648	–	0.14%	–
PAA	New	Plains All American Pipeline	$321,441,000	–	11,693	–	0.14%	–
	New	Horsehead Holdingconv bond	$316,800,000	–	5,280,000	–	0.14%	–
MOFG	New	MidWest One Fin	$313,132,000	–	10,964	–	0.13%	–
HFBC	New	HopFed Bancorp	$288,703,000	–	24,910	–	0.12%	–
NM	New	Navios Maritime Holdings	$270,702,000	–	334,200	–	0.12%	–
C	New	Citigroup	$269,473,000	–	6,357	–	0.12%	–
EEM	New	iShares MSCI Emerging Markets	$261,651,000	–	7,615	–	0.11%	–
FCF	New	First Commonwealth Financial	$228,142,000	–	24,798	–	0.10%	–
FBNC	New	First Bancorp	$221,651,000	–	12,608	–	0.10%	–
T	New	A T & T	$217,303,000	–	5,029	–	0.09%	–
WIN	New	Windstream Holdings	$208,566,000	–	22,499	–	0.09%	–
FITB	New	Fifth Third Bancorp	$198,327,000	–	11,275	–	0.08%	–
HA	New	Hawaiian Holdings	$191,280,000	–	5,039	–	0.08%	–
ET	New	Energy Transfer Equity	$188,844,000	–	13,142	–	0.08%	–
RASF	New	RAIT Financial Trust	$171,524,000	–	54,800	–	0.07%	–
TIP	New	iShares TIPS	$163,382,000	–	1,400	–	0.07%	–
BHLB	New	Berkshire Hills Bancorp	$160,012,000	–	5,944	–	0.07%	–
ETP	New	Energy Transfer Partners	$159,361,000	–	4,186	–	0.07%	–
AAMRQ	New	American Airlines Group	$130,449,000	–	11,453	–	0.06%	–
FCCY	New	1st Constitution Bancorp	$124,968,000	–	10,397	–	0.05%	–
FNB	New	FNB Corporation	$105,888,000	–	8,444	–	0.04%	–
SCHO	New	Schwab Short-Term U.S. Treasury	$105,833,000	–	2,077	–	0.04%	–
GNK	New	Genco Shipping	$94,964,000	–	166,604	–	0.04%	–
CVO	New	Cenveo	$87,587,000	–	107,350	–	0.04%	–
F	New	Ford	$71,604,000	–	5,696	–	0.03%	–
TLP	New	Transmontaigne Partners	$66,771,000	–	1,625	–	0.03%	–
MO	New	Altria Group	$58,741,000	–	852	–	0.02%	–
DCBF	New	DCB Financial	$55,180,000	–	7,827	–	0.02%	–
BBT	New	BB&T Corporation	$51,385,000	–	1,443	–	0.02%	–
ARLP	New	Alliance Resource Partners	$52,008,000	–	3,300	–	0.02%	–
GWB	New	Great Western Bancorp	$46,995,000	–	1,490	–	0.02%	–
WPX	New	WPX Energy	$43,102,000	–	4,630	–	0.02%	–
WPZ	New	Williams Partners	$39,697,000	–	1,146	–	0.02%	–
EZPW	New	EZCORP	$34,474,000	–	4,560	–	0.02%	–
CWSA	New	Citigroup Inc	$35,953,000	–	611,451	–	0.02%	–
BACPRL	New	Bank of Americaconv pref	$34,655,000	–	29	–	0.02%	–
LGIH	New	LGI Homes	$31,940,000	–	1,000	–	0.01%	–
MLPI	New	UBS ETRACS Alerian MLP	$32,651,000	–	1,635	–	0.01%	–
TNK	New	Teekay Tankers	$29,800,000	–	10,000	–	0.01%	–
TOO	New	Teekay Offshore Partners	$28,304,000	–	4,757	–	0.01%	–
QEP	New	QEP Resources	$26,445,000	–	1,500	–	0.01%	–
EOG	New	EOG Resources	$25,443,000	–	305	–	0.01%	–
VRX	New	Valeant Pharma	$19,965,000	–	991	–	0.01%	–
YDKN	New	Yadkin Financial	$20,900,000	–	833	–	0.01%	–
ZIONW	New	Zions Bancorp	$21,600,000	–	10,000	–	0.01%	–
OKS	New	ONEOK Partners	$20,030,000	–	500	–	0.01%	–
AESPRC	New	A E Sconv pref	$19,523,000	–	375	–	0.01%	–
ATLS	New	Atlas Energy Group	$19,053,000	–	36,290	–	0.01%	–
BACWSB	New	Bank of America	$16,754,000	–	215,625	–	0.01%	–
IP	New	International Paper	$15,469,000	–	365	–	0.01%	–
UMPQ	New	Umpqua Holdings	$17,017,000	–	1,100	–	0.01%	–
AKS	New	AK Steel	$13,980,000	–	3,000	–	0.01%	–
CBF	New	Capital Bank Financial	$13,622,000	–	473	–	0.01%	–
SM	New	SM Energy	$13,635,000	–	505	–	0.01%	–
COFS	New	Choiceone Financial	$13,306,000	–	576	–	0.01%	–
SWN	New	Southwestern Energy	$15,159,000	–	1,205	–	0.01%	–
AGM	New	Federal Agricultural Mortgage	$13,928,000	–	400	–	0.01%	–
STX	New	Seagate Technology	$14,616,000	–	600	–	0.01%	–
NMM	New	Navios Maritime Partners	$11,610,000	–	9,000	–	0.01%	–
OKSB	New	Southwest Bancorp	$11,851,000	–	700	–	0.01%	–
SVU	New	SUPERVALU	$12,272,000	–	2,600	–	0.01%	–
BNCN	New	BNC Bancorp	$11,355,000	–	500	–	0.01%	–
FSFG	New	First Savings Financial	$11,053,000	–	320	–	0.01%	–
EMESQ	New	Emerge Energy Services	$9,801,000	–	850	–	0.00%	–
SXL	New	Sunoco Logistics Partners	$9,200,000	–	320	–	0.00%	–
	New	Bank of America	$10,440,000	–	3,000	–	0.00%	–
BANR	New	Banner Corp	$8,520,000	–	200	–	0.00%	–
PQ	New	PetroQuest Energy	$8,325,000	–	2,500	–	0.00%	–
AMLP	New	Alerian MLP	$7,378,000	–	580	–	0.00%	–
CLNY	New	Colony Capital	$6,140,000	–	400	–	0.00%	–
DHI	New	DR Horton	$7,870,000	–	250	–	0.00%	–
TOL	New	Toll Brothers	$5,382,000	–	200	–	0.00%	–
SPWR	New	SunPower Corporation	$3,656,000	–	236	–	0.00%	–
JPMWS	New	JP Morgan Chase	$4,050,000	–	200	–	0.00%	–
UCBI	New	United Community Banks	$4,024,000	–	220	–	0.00%	–
WEBC	New	Webco Industries	$3,800,000	–	100	–	0.00%	–
PESXQ	New	Pioneer Energy Services	$4,830,000	–	1,050	–	0.00%	–
MTH	New	Meritage Homes	$3,754,000	–	100	–	0.00%	–
HBAN	New	Huntington Bancshares	$3,521,000	–	394	–	0.00%	–
FNFG	New	First Niagara Financial	$1,753,000	–	180	–	0.00%	–
EXIXQ	New	Energy XXIconv pref	$1,800,000	–	4,500	–	0.00%	–
WLL	New	Whiting Petroleum	$1,389,000	–	150	–	0.00%	–
BWP	New	Boardwalk Pipeline	$3,490,000	–	200	–	0.00%	–
DAKT	New	Daktronics	$2,188,000	–	350	–	0.00%	–
AOI	New	Alliance One	$3,080,000	–	200	–	0.00%	–
SDRPQ	New	Sandridge Energyconv pref	$924,000	–	9,240	–	0.00%	–
SDOCQ	New	SandRidge Energy	$90,000	–	89,507	–	0.00%	–
PSTB	New	Park Sterling Corp	$1,163,000	–	164	–	0.00%	–
GNKWF	New	Genco Shipping	$78,000	–	2,155	–	0.00%	–
KMIWS	New	Kinder Morgan Inc.	$116,000	–	7,140	–	0.00%	–

Q4 2015

			Value		Shares		↓ Weighting
GNKWF	Exit	Genco Shipping	$0	–	-2,155	–	0.00%	–
AIGWS	Exit	American Int. Group	$0	–	-8	–	0.00%	–
PSTB	Exit	Park Sterling Corp	$0	–	-164	–	0.00%	–
DORLN	Exit	Doral Financialpref stk	$0	–	-1,000	–	0.00%	–
DORLP	Exit	Doral Financialpref stk	$0	–	-1,500	–	0.00%	–
NEM	Exit	Newmont Mining	$0	–	0	–	0.00%	–
FNFG	Exit	First Niagara Financial	$0	–	-180	–	-0.00%	–
LEU	Exit	Centrus Energy	$0	–	-938	–	-0.00%	–
WLL	Exit	Whiting Petroleum	$0	–	-150	–	-0.00%	–
JPMWS	Exit	JP Morgan	$0	–	-200	–	-0.00%	–
FRC	Exit	First Republic Bank	$0	–	-68	–	-0.00%	–
AOI	Exit	Alliance One	$0	–	-200	–	-0.00%	–
SPWR	Exit	SunPower	$0	–	-236	–	-0.00%	–
MTH	Exit	Meritage Homes	$0	–	-100	–	-0.00%	–
TOL	Exit	Toll Brothers	$0	–	-200	–	-0.00%	–
DHI	Exit	DR Horton	$0	–	-250	–	-0.00%	–
ARIA	Exit	Ariad Pharmaceuticals	$0	–	-1,000	–	-0.00%	–
AKS	Exit	AK Steel	$0	–	-3,000	–	-0.00%	–
UAN	Exit	CVR Partners	$0	–	-1,000	–	-0.00%	–
BANR	Exit	Banner Corp	$0	–	-200	–	-0.00%	–
AGM	Exit	Federal Agricultural Mortgage	$0	–	-400	–	-0.00%	–
FSFG	Exit	First Savings Financial Group	$0	–	-320	–	-0.01%	–
OKSB	Exit	Southwest Bancorp	$0	–	-700	–	-0.01%	–
EXXIQ	Exit	Energy XXI	$0	–	-13,600	–	-0.01%	–
COFS	Exit	Choiceone Financial	$0	–	-576	–	-0.01%	–
IP	Exit	International Paper	$0	–	-365	–	-0.01%	–
CBF	Exit	Capital Bank Financial	$0	–	-473	–	-0.01%	–
OKS	Exit	ONEOK Partners	$0	–	-500	–	-0.01%	–
SWN	Exit	Southwestern Energy	$0	–	-1,205	–	-0.01%	–
SM	Exit	SM Energy	$0	–	-505	–	-0.01%	–
PPBI	Exit	Pacific Premier Bancorp	$0	–	-800	–	-0.01%	–
UMPQ	Exit	Umpqua Holdings	$0	–	-1,100	–	-0.01%	–
EZPW	Exit	EZCORP Inc	$0	–	-3,160	–	-0.01%	–
EOG	Exit	EOG Resources	$0	–	-255	–	-0.01%	–
SVU	Exit	SUPERVALU	$0	–	-2,600	–	-0.01%	–
AESPRC	Exit	A E Sconv pref	$0	–	-410	–	-0.01%	–
	Exit	Capital Product Partners	$0	–	-3,500	–	-0.01%	–
	Exit	Cal Dive Internationalconv bond	$0	–	-4,550,000	–	-0.01%	–
BNCN	Exit	BNC Bancorp	$0	–	-1,200	–	-0.01%	–
MPLX	Exit	MPLX LP	$0	–	-725	–	-0.01%	–
BACPRL	Exit	Bank of Americaconv pref	$0	–	-29	–	-0.01%	–
WPX	Exit	WPX Energy	$0	–	-4,630	–	-0.01%	–
GULTU	Exit	Gulf Coast Royalty	$0	–	-108,500	–	-0.01%	–
SCHO	Exit	Schwab Short-Term U.S. Treasury	$0	–	-693	–	-0.02%	–
WPZ	Exit	Williams Partners	$0	–	-1,060	–	-0.02%	–
TLP	Exit	Transmontaigne Partners	$0	–	-1,625	–	-0.02%	–
BBT	Exit	BB&T Corporation	$0	–	-1,443	–	-0.02%	–
DCBF	Exit	DCB Financial	$0	–	-7,827	–	-0.02%	–
BACWSB	Exit	Bank of America	$0	–	-215,625	–	-0.03%	–
KMIWS	Exit	Kinder Morgan	$0	–	-67,140	–	-0.03%	–
EXIXQ	Exit	Energy XXIconv pref	$0	–	-4,500	–	-0.03%	–
TOO	Exit	Teekay Offshore Partners	$0	–	-4,757	–	-0.03%	–
TNK	Exit	Teekay Tankers	$0	–	-10,000	–	-0.03%	–
SDOCQ	Exit	SandRidge Energy	$0	–	-281,999	–	-0.03%	–
F	Exit	Ford	$0	–	-5,610	–	-0.03%	–
C	Exit	Citigroup	$0	–	-1,937	–	-0.04%	–
CVCY	Exit	Central Valley Community	$0	–	-8,830	–	-0.05%	–
ARLP	Exit	Alliance Resource LP	$0	–	-4,750	–	-0.05%	–
CVO	Exit	Cenveo	$0	–	-56,350	–	-0.05%	–
FNB	Exit	F.N.B. Corporation	$0	–	-8,444	–	-0.05%	–
FCCY	Exit	1st Constitution Bancorp.	$0	–	-9,905	–	-0.05%	–
FITB	Exit	Fifth Third Bancorp	$0	–	-6,475	–	-0.05%	–
OMG	Exit	OM Group	$0	–	-3,918	–	-0.06%	–
WIN	Exit	Windstream Holdings	$0	–	-23,204	–	-0.06%	–
ATLS	Exit	Atlas Energy Group	$0	–	-72,621	–	-0.07%	–
BHLB	Exit	Berkshire Hills Bancorp	$0	–	-5,944	–	-0.07%	–
TIP	Exit	iShares TIPS Bond	$0	–	-1,634	–	-0.08%	–
CJESQ	Exit	C & J Energy Services	$0	–	-52,362	–	-0.08%	–
HA	Exit	Hawaiian Holdings	$0	–	-7,987	–	-0.08%	–
FCF	Exit	First Commonwealth	$0	–	-22,878	–	-0.09%	–
FBNC	Exit	First Bancorp	$0	–	-12,607	–	-0.09%	–
T	Exit	A T & T	$0	–	-6,583	–	-0.09%	–
SDRPQ	Exit	Sandridge Energyconv pref	$0	–	-36,710	–	-0.09%	–
CWSA	Exit	Citigroup	$0	–	-487,183	–	-0.10%	–
RASF	Exit	RAIT Financial Trust	$0	–	-48,800	–	-0.10%	–
EEM	Exit	MSCI Emerging Markets Index	$0	–	-7,615	–	-0.11%	–
ETP	Exit	Energy Transfer Partners	$0	–	-6,086	–	-0.11%	–
MOFG	Exit	MidWest One Financial	$0	–	-8,699	–	-0.11%	–
ET	Exit	Energy Transfer Equity	$0	–	-13,312	–	-0.12%	–
HFBC	Exit	HopFed Bancorp	$0	–	-24,908	–	-0.13%	–
WES	Exit	Western Gas Partners	$0	–	-6,600	–	-0.13%	–
CIVB	Exit	Civista Bancshares	$0	–	-32,772	–	-0.14%	–
QEP	Exit	QEP Resources	$0	–	-26,620	–	-0.14%	–
STI	Exit	SunTrust Banks	$0	–	-9,501	–	-0.16%	–
	Exit	Centrus Energy Corpconv bond	$0	–	-1,280,415	–	-0.16%	–
CFG	Exit	Citizens Financial Group	$0	–	-16,547	–	-0.17%	–
ZION	Exit	Zions Bancorp	$0	–	-14,416	–	-0.17%	–
IYF	Exit	iShares DJ US Financial	$0	–	-4,774	–	-0.17%	–
MSFG	Exit	MainSource Financial	$0	–	-20,038	–	-0.18%	–
BAC	Exit	Bank of America	$0	–	-26,604	–	-0.18%	–
CSCO	Exit	Cisco Systems	$0	–	-16,135	–	-0.18%	–
TSBK	Exit	Timberland Bancorp	$0	–	-38,855	–	-0.18%	–
UCBI	Exit	United Community Banks	$0	–	-21,410	–	-0.19%	–
XRM	Exit	Xerium Technologies	$0	–	-35,700	–	-0.20%	–
SLYV	Exit	SPDR S&P 600 Small Cap	$0	–	-5,063	–	-0.21%	–
PFBX	Exit	Peoples Financial	$0	–	-51,238	–	-0.21%	–
UBOH	Exit	United Bancshares	$0	–	-31,986	–	-0.22%	–
FRME	Exit	First Merchants	$0	–	-19,320	–	-0.22%	–
YDKN	Exit	Yadkin Financial	$0	–	-24,261	–	-0.22%	–
AF	Exit	Astoria Financial	$0	–	-33,190	–	-0.23%	–
PAA	Exit	Plains All American Pipeline	$0	–	-17,573	–	-0.23%	–
UIS	Exit	Unisys	$0	–	-46,045	–	-0.24%	–
HMNF	Exit	HMN Financial	$0	–	-47,760	–	-0.24%	–
INTC	Exit	Intel	$0	–	-18,768	–	-0.24%	–
CSAL	Exit	Communications Sales & Leasing	$0	–	-32,720	–	-0.25%	–
NBBC	Exit	NewBridge Bancorp	$0	–	-68,753	–	-0.25%	–
FMCKI	Exit	Freddie Macpref stk	$0	–	-147,300	–	-0.26%	–
EMESQ	Exit	Emerge Energy	$0	–	-88,424	–	-0.26%	–
ASRV	Exit	AmeriServ Financial	$0	–	-188,152	–	-0.26%	–
BYLK	Exit	Baylake Corp	$0	–	-45,175	–	-0.28%	–
NM	Exit	Navios Maritime Holdings	$0	–	-256,200	–	-0.28%	–
	Exit	RAIT Financialconv bond	$0	–	-775,000	–	-0.28%	–
HFFC	Exit	HF Financial	$0	–	-40,351	–	-0.28%	–
SBFC	Exit	Southeastern Bank Financial	$0	–	-20,211	–	-0.28%	–
MDR	Exit	McDermott	$0	–	-155,093	–	-0.29%	–
IRDM	Exit	Iridium Communications	$0	–	-109,380	–	-0.29%	–
KO	Exit	Coca-Cola	$0	–	-16,858	–	-0.29%	–
PEBK	Exit	Peoples Bancorp of NC	$0	–	-38,741	–	-0.29%	–
GNK	Exit	Genco Shipping	$0	–	-178,559	–	-0.30%	–
PFE	Exit	Pfizer	$0	–	-22,665	–	-0.31%	–
CVLY	Exit	Codorus Bancorp Inc	$0	–	-36,045	–	-0.32%	–
RAIL	Exit	FreightCar America	$0	–	-43,729	–	-0.32%	–
MFSF	Exit	MutualFirst Financial	$0	–	-32,077	–	-0.32%	–
BKS	Exit	Barnes & Noble	$0	–	-63,007	–	-0.33%	–
IBCP	Exit	Independent Bank	$0	–	-52,054	–	-0.33%	–
FCCO	Exit	First Community	$0	–	-62,105	–	-0.33%	–
ARCB	Exit	Arcbest Corp	$0	–	-30,207	–	-0.34%	–
DD	Exit	du Pont	$0	–	-16,554	–	-0.34%	–
MSFT	Exit	Microsoft	$0	–	-18,178	–	-0.35%	–
	Exit	Cenveo Corpconv bond	$0	–	-890,000	–	-0.35%	–
VZ	Exit	Verizon Communications	$0	–	-18,805	–	-0.35%	–
SPAR	Exit	Spartan Motors	$0	–	-199,699	–	-0.36%	–
TRGP	Exit	Targa Resources Corp	$0	–	-16,236	–	-0.36%	–
PFBI	Exit	Premier Financial Bancorp	$0	–	-58,916	–	-0.36%	–
MDC	Exit	MDC Holdings	$0	–	-32,372	–	-0.36%	–
GE	Exit	General Electric	$0	–	-33,787	–	-0.37%	–
RCII	Exit	Rent-A-Center	$0	–	-35,925	–	-0.38%	–
DAKT	Exit	Daktronics	$0	–	-100,631	–	-0.38%	–
RSTI	Exit	Rofin-Sinar Technologies	$0	–	-34,255	–	-0.38%	–
OLN	Exit	Olin Corp	$0	–	-53,832	–	-0.39%	–
MRK	Exit	Merck	$0	–	-19,296	–	-0.41%	–
DOOR	Exit	Masonite Int	$0	–	-15,747	–	-0.41%	–
FBMS	Exit	First Bancshares	$0	–	-55,736	–	-0.42%	–
EVBS	Exit	Eastern Virginia Banks	$0	–	-146,936	–	-0.43%	–
CAT	Exit	Caterpillar Inc	$0	–	-15,412	–	-0.43%	–
ENLC	Exit	EnLink Midstream LLC	$0	–	-56,097	–	-0.44%	–
WMT	Exit	Wal-Mart	$0	–	-15,998	–	-0.45%	–
HVT	Exit	Haverty Furniture	$0	–	-44,115	–	-0.45%	–
SUP	Exit	Superior Industries	$0	–	-55,539	–	-0.45%	–
V	Exit	Visa	$0	–	-15,337	–	-0.46%	–
AAL	Exit	American Airlines Group	$0	–	-28,270	–	-0.47%	–
ONB	Exit	Old National Bancorp	$0	–	-79,067	–	-0.47%	–
KE	Exit	Kimball Electronics	$0	–	-94,380	–	-0.48%	–
AXP	Exit	American Express	$0	–	-15,369	–	-0.49%	–
SMMF	Exit	Summit Financial	$0	–	-98,393	–	-0.50%	–
JPM	Exit	JPMorgan	$0	–	-19,718	–	-0.52%	–
PG	Exit	Procter & Gamble	$0	–	-17,431	–	-0.54%	–
ALSK	Exit	Alaska Communications	$0	–	-587,700	–	-0.55%	–
KALU	Exit	Kaiser Aluminum	$0	–	-16,425	–	-0.57%	–
PTQEP	Exit	PetroQuestconv pref	$0	–	-77,857	–	-0.57%	–
APLP	Exit	Archrock Partners	$0	–	-81,331	–	-0.58%	–
IRDDA	Exit	Iridium Communicationsconv pref	$0	–	-20,535	–	-0.59%	–
UTX	Exit	United Technologies	$0	–	-15,518	–	-0.59%	–
	Exit	Atlas Air Worldwide Holdingsconv bond	$0	–	-1,730,000	–	-0.60%	–
SBFG	Exit	SB Financial	$0	–	-138,403	–	-0.61%	–
SFST	Exit	Southern First Bancshares	$0	–	-70,105	–	-0.62%	–
	Exit	General Cable Corpconv bond	$0	–	-2,420,000	–	-0.62%	–
CVX	Exit	Chevron	$0	–	-18,361	–	-0.62%	–
	Exit	Jefferies Groupconv bond	$0	–	-1,422,000	–	-0.63%	–
AYR	Exit	Aircastle LTD	$0	–	-74,496	–	-0.66%	–
XOM	Exit	Exxon Mobil	$0	–	-20,674	–	-0.66%	–
TRV	Exit	Travelers	$0	–	-15,514	–	-0.66%	–
MMLP	Exit	Martin Midstream LP	$0	–	-64,452	–	-0.68%	–
	Exit	Horsehead Holdingconv bond	$0	–	-2,465,000	–	-0.69%	–
DIS	Exit	Disney	$0	–	-15,997	–	-0.70%	–
MCD	Exit	McDonald's	$0	–	-16,709	–	-0.71%	–
MBWM	Exit	Mercantile Bank	$0	–	-81,117	–	-0.73%	–
	Exit	Cenveo Corpconv bond	$0	–	-1,827,000	–	-0.73%	–
JNJ	Exit	Johnson & Johnson	$0	–	-18,402	–	-0.74%	–
	Exit	Navistar Intlconv bond	$0	–	-2,455,000	–	-0.77%	–
	Exit	Quidel Corpconv bond	$0	–	-1,945,000	–	-0.78%	–
UNH	Exit	UnitedHealth Group	$0	–	-15,705	–	-0.78%	–
	Exit	AK Steel Corporationconv bond	$0	–	-2,590,000	–	-0.79%	–
HD	Exit	Home Depot	$0	–	-16,205	–	-0.81%	–
NKE	Exit	Nike	$0	–	-15,367	–	-0.81%	–
AAPL	Exit	Apple	$0	–	-17,638	–	-0.84%	–
	Exit	Newmont Miningconv bond	$0	–	-2,050,000	–	-0.88%	–
BANC	Exit	Banc of California	$0	–	-167,962	–	-0.89%	–
	Exit	Blucora Incconv bond	$0	–	-2,185,000	–	-0.89%	–
NMM	Exit	Navios Maritime Partners	$0	–	-286,438	–	-0.90%	–
BA	Exit	Boeing	$0	–	-16,253	–	-0.92%	–
TLLP	Exit	Tesoro Logistics	$0	–	-48,980	–	-0.95%	–
	Exit	Titan Machineryconv bond	$0	–	-2,876,000	–	-0.95%	–
MMM	Exit	3M Co.	$0	–	-15,731	–	-0.96%	–
RRMS	Exit	Rose Rock Midstream	$0	–	-91,958	–	-0.96%	–
IBM	Exit	IBM	$0	–	-15,580	–	-0.97%	–
	Exit	Prospect Capital Corpconv bond	$0	–	-2,279,000	–	-0.98%	–
	Exit	KB HOMEconv bond	$0	–	-2,460,000	–	-0.98%	–
HEP	Exit	Holly Energy Partners	$0	–	-79,061	–	-0.99%	–
	Exit	Broadsoft Incconv bond	$0	–	-2,300,000	–	-1.02%	–
TGP	Exit	Teekay LNG Partners	$0	–	-102,721	–	-1.06%	–
NGLS	Exit	Targa Resources	$0	–	-85,771	–	-1.07%	–
BGEPF	Exit	Bungeconv pref	$0	–	-25,475	–	-1.08%	–
	Exit	EZCorp Incconv bond	$0	–	-3,660,000	–	-1.12%	–
SHLX	Exit	Shell Midstream Partners	$0	–	-89,969	–	-1.14%	–
GS	Exit	Goldman Sachs	$0	–	-15,413	–	-1.15%	–
PAGP	Exit	Plains GP Holdings	$0	–	-153,822	–	-1.16%	–
QCRH	Exit	QCR Holdings	$0	–	-125,914	–	-1.18%	–
EPD	Exit	Enterprise Products	$0	–	-123,567	–	-1.32%	–
TK	Exit	Teekay Inc	$0	–	-105,290	–	-1.34%	–
	Exit	RAIT Financialconv bond	$0	–	-3,315,000	–	-1.36%	–
VTTI	Exit	VTTI Energy Partners	$0	–	-168,135	–	-1.42%	–
RMP	Exit	Rice Midstream Partners	$0	–	-251,018	–	-1.44%	–
ENLK	Exit	EnLink Partners LP	$0	–	-239,026	–	-1.62%	–
GEL	Exit	Genesis Energy	$0	–	-99,391	–	-1.64%	–
OKE	Exit	ONEOK Inc	$0	–	-119,687	–	-1.66%	–
MWE	Exit	MarkWest Energy	$0	–	-90,445	–	-1.67%	–
AHGP	Exit	Alliance Holding GP	$0	–	-128,582	–	-1.71%	–
	Exit	Alaska Communicationsconv bond	$0	–	-4,410,000	–	-1.90%	–
KMI	Exit	Kinder Morgan	$0	–	-171,610	–	-2.04%	–
MMP	Exit	Magellan Midstream LP	$0	–	-99,524	–	-2.58%	–
NGL	Exit	NGL Energy Partners	$0	–	-370,299	–	-3.18%	–
DIA	Exit	SPDR DJIA	$0	–	-46,888	–	-3.28%	–
WMB	Exit	Williams Companies	$0	–	-226,313	–	-3.59%	–

Q3 2015

			Value		Shares		↓ Weighting
WMB	Buy	Williams Companies	$8,339,619,000	-30.0%	226,313	+9.0%	3.59%	-17.5%
DIA	Buy	SPDR DJIA	$7,624,965,000	-1.6%	46,888	+6.3%	3.28%	+16.1%
NGL	Sell	NGL Energy Partners	$7,394,875,000	-38.1%	370,299	-6.0%	3.18%	-27.0%
MMP	Sell	Magellan Midstream LP	$5,982,388,000	-30.4%	99,524	-15.0%	2.58%	-17.9%
KMI	Sell	Kinder Morgan	$4,750,157,000	-31.8%	171,610	-5.5%	2.04%	-19.6%
	Buy	Alaska Communicationsconv bond	$4,415,513,000	+1.4%	4,410,000	+0.5%	1.90%	+19.6%
AHGP	Buy	Alliance Holding GP	$3,980,899,000	-10.0%	128,582	+13.9%	1.71%	+6.2%
MWE	Sell	MarkWest Energy	$3,880,995,000	-26.5%	90,445	-3.4%	1.67%	-13.2%
OKE	Sell	ONEOK Inc	$3,853,922,000	-22.8%	119,687	-5.4%	1.66%	-8.9%
GEL	Sell	Genesis Energy	$3,810,651,000	-15.3%	99,391	-3.1%	1.64%	-0.1%
ENLK	Buy	EnLink Partners LP	$3,767,050,000	-21.8%	239,026	+9.0%	1.62%	-7.8%
RMP	Sell	Rice Midstream Partners	$3,343,560,000	-24.2%	251,018	-1.2%	1.44%	-10.6%
VTTI	Buy	VTTI Energy Partners	$3,290,402,000	-17.6%	168,135	+5.5%	1.42%	-2.8%
	Sell	RAIT Financialconv bond	$3,163,753,000	-13.2%	3,315,000	-0.3%	1.36%	+2.4%
TK	Buy	Teekay Inc	$3,120,796,000	-30.7%	105,290	+0.1%	1.34%	-18.3%
EPD	Buy	Enterprise Products	$3,076,818,000	+173.1%	123,567	+227.9%	1.32%	+222.1%
QCRH	Buy	QCR Holdings	$2,753,746,000	+1.0%	125,914	+0.5%	1.18%	+19.1%
PAGP	Sell	Plains GP Holdings	$2,691,885,000	-35.4%	153,822	-4.7%	1.16%	-23.8%
GS	Buy	Goldman Sachs	$2,678,163,000	-16.1%	15,413	+0.8%	1.15%	-1.0%
SHLX	Sell	Shell Midstream Partners	$2,647,788,000	-37.7%	89,969	-3.3%	1.14%	-26.5%
	New	EZCorp Incconv bond	$2,612,325,000	–	3,660,000	–	1.12%	–
BGEPF	Sell	Bungeconv pref	$2,499,862,000	-10.3%	25,475	-0.4%	1.08%	+5.8%
NGLS	Buy	Targa Resources	$2,490,788,000	-12.3%	85,771	+16.5%	1.07%	+3.5%
TGP	Sell	Teekay LNG Partners	$2,457,086,000	-27.3%	102,721	-2.2%	1.06%	-14.3%
	Sell	Broadsoft Incconv bond	$2,358,236,000	-3.4%	2,300,000	-0.2%	1.02%	+13.9%
HEP	Sell	Holly Energy Partners	$2,295,141,000	-18.9%	79,061	-1.8%	0.99%	-4.4%
IBM	Buy	IBM	$2,258,633,000	-9.3%	15,580	+1.8%	0.97%	+6.9%
RRMS	Buy	Rose Rock Midstream	$2,238,249,000	-37.4%	91,958	+20.2%	0.96%	-26.2%
MMM	Buy	3M Co.	$2,230,190,000	-6.6%	15,731	+1.6%	0.96%	+10.2%
	Sell	Titan Machineryconv bond	$2,208,897,000	-6.0%	2,876,000	-0.2%	0.95%	+10.8%
TLLP	Buy	Tesoro Logistics	$2,204,100,000	+7617.4%	48,980	+9696.0%	0.95%	+9390.0%
BA	Buy	Boeing	$2,128,330,000	-4.2%	16,253	+1.5%	0.92%	+12.9%
NMM	Buy	Navios Maritime Partners	$2,088,133,000	-30.0%	286,438	+2.8%	0.90%	-17.4%
	Sell	Blucora Incconv bond	$2,071,489,000	-4.5%	2,185,000	-0.2%	0.89%	+12.8%
BANC	Buy	Banc of California	$2,060,896,000	-7.8%	167,962	+3.3%	0.89%	+8.8%
	New	Newmont Miningconv bond	$2,041,103,000	–	2,050,000	–	0.88%	–
AAPL	Buy	Apple	$1,945,446,000	-10.9%	17,638	+1.4%	0.84%	+5.2%
NKE	Buy	Nike	$1,889,680,000	+15.6%	15,367	+1.6%	0.81%	+36.4%
HD	Buy	Home Depot	$1,871,515,000	+4.9%	16,205	+0.9%	0.81%	+23.8%
	Sell	AK Steel Corporationconv bond	$1,827,569,000	-30.6%	2,590,000	-0.2%	0.79%	-18.1%
UNH	Buy	UnitedHealth Group	$1,821,937,000	-4.0%	15,705	+1.0%	0.78%	+13.3%
	Sell	Navistar Intlconv bond	$1,796,667,000	-14.3%	2,455,000	-0.2%	0.77%	+1.0%
JNJ	Buy	Johnson & Johnson	$1,717,827,000	-2.9%	18,402	+1.4%	0.74%	+14.6%
MBWM	Buy	Mercantile Bank	$1,685,615,000	+2.3%	81,117	+5.4%	0.73%	+20.8%
MCD	Sell	McDonald's	$1,646,338,000	+2.1%	16,709	-1.5%	0.71%	+20.6%
DIS	Buy	Disney	$1,634,847,000	-8.8%	15,997	+1.8%	0.70%	+7.6%
	New	Horsehead Holdingconv bond	$1,593,314,000	–	2,465,000	–	0.69%	–
MMLP	Sell	Martin Midstream LP	$1,572,629,000	-23.6%	64,452	-3.0%	0.68%	-9.9%
TRV	Buy	Travelers	$1,544,108,000	+4.6%	15,514	+1.5%	0.66%	+23.4%
XOM	Buy	Exxon Mobil	$1,537,112,000	-9.5%	20,674	+1.2%	0.66%	+6.8%
AYR	Sell	Aircastle LTD	$1,535,363,000	-9.3%	74,496	-0.2%	0.66%	+7.0%
CVX	Sell	Chevron	$1,448,316,000	-21.0%	18,361	-3.3%	0.62%	-6.9%
	Sell	General Cable Corpconv bond	$1,435,423,000	-31.1%	2,420,000	-1.4%	0.62%	-18.7%
SBFG	Buy	SB Financial	$1,421,404,000	-1.4%	138,403	+1.7%	0.61%	+16.3%
	New	Atlas Air Worldwide Holdingsconv bond	$1,391,166,000	–	1,730,000	–	0.60%	–
UTX	Buy	United Technologies	$1,380,947,000	-18.5%	15,518	+1.6%	0.59%	-3.9%
IRDDA	New	Iridium Communicationsconv pref	$1,368,452,000	–	20,535	–	0.59%	–
APLP	New	Archrock Partners	$1,336,268,000	–	81,331	–	0.58%	–
PTQEP	Buy	PetroQuestconv pref	$1,323,569,000	-34.2%	77,857	+0.6%	0.57%	-22.3%
KALU	Sell	Kaiser Aluminum	$1,318,106,000	-6.5%	16,425	-3.2%	0.57%	+10.1%
ALSK	Buy	Alaska Communications	$1,287,063,000	-3.7%	587,700	+5.5%	0.55%	+13.5%
PG	Buy	Procter & Gamble	$1,253,986,000	-6.5%	17,431	+1.7%	0.54%	+10.2%
JPM	Buy	JPMorgan	$1,202,206,000	-8.9%	19,718	+1.2%	0.52%	+7.3%
SMMF	Buy	Summit Financial	$1,158,086,000	+5.4%	98,393	+0.4%	0.50%	+24.2%
AXP	Buy	American Express	$1,139,304,000	-3.0%	15,369	+1.7%	0.49%	+14.5%
KE	New	Kimball Electronics	$1,125,953,000	–	94,380	–	0.48%	–
ONB	Buy	Old National Bancorp	$1,101,410,000	-3.7%	79,067	+0.0%	0.47%	+13.7%
V	Buy	Visa	$1,068,375,000	+5.4%	15,337	+1.6%	0.46%	+24.3%
SUP	Buy	Superior Industries	$1,037,463,000	+4.6%	55,539	+2.5%	0.45%	+23.5%
HVT	Buy	Haverty Furniture	$1,035,820,000	+11.7%	44,115	+2.9%	0.45%	+32.0%
WMT	Sell	Wal-Mart	$1,037,310,000	-12.6%	15,998	-4.4%	0.45%	+3.0%
ENLC	Buy	EnLink Midstream LLC	$1,025,455,000	-37.6%	56,097	+6.1%	0.44%	-26.5%
CAT	Buy	Caterpillar Inc	$1,007,328,000	-21.6%	15,412	+1.7%	0.43%	-7.5%
EVBS	Buy	Eastern Virginia Banks	$991,815,000	+11.0%	146,936	+3.8%	0.43%	+31.0%
FBMS	Buy	First Bancshares	$973,708,000	+5.7%	55,736	+0.6%	0.42%	+24.7%
DOOR	Buy	Masonite Int	$953,953,000	-11.2%	15,747	+2.7%	0.41%	+4.8%
MRK	Buy	Merck	$953,029,000	-12.2%	19,296	+1.2%	0.41%	+3.5%
OLN	Buy	Olin Corp	$904,909,000	-33.7%	53,832	+6.4%	0.39%	-21.9%
RSTI	Buy	Rofin-Sinar Technologies	$888,232,000	-4.5%	34,255	+1.6%	0.38%	+12.7%
DAKT	Buy	Daktronics	$872,471,000	-25.2%	100,631	+2.3%	0.38%	-11.7%
RCII	Buy	Rent-A-Center	$871,181,000	-10.0%	35,925	+5.2%	0.38%	+6.2%
GE	Buy	General Electric	$852,119,000	-4.4%	33,787	+0.7%	0.37%	+12.9%
MDC	Buy	MDC Holdings	$847,499,000	-10.6%	32,372	+2.4%	0.36%	+5.5%
PFBI	Buy	Premier Financial Bancorp	$838,962,000	-5.9%	58,916	+2.1%	0.36%	+11.1%
TRGP	Sell	Targa Resources Corp	$836,469,000	-44.4%	16,236	-3.8%	0.36%	-34.4%
SPAR	Buy	Spartan Motors	$824,757,000	-6.6%	199,699	+3.5%	0.36%	+10.2%
VZ	Sell	Verizon Communications	$818,206,000	-12.5%	18,805	-6.3%	0.35%	+3.2%
	Sell	Cenveo Corpconv bond	$806,785,000	-4.0%	890,000	-0.6%	0.35%	+13.4%
MSFT	Buy	Microsoft	$804,556,000	+1.8%	18,178	+1.6%	0.35%	+20.1%
DD	Buy	du Pont	$797,903,000	-23.5%	16,554	+1.4%	0.34%	-10.0%
ARCB	Buy	Arcbest Corp	$778,438,000	-17.4%	30,207	+1.9%	0.34%	-2.6%
FCCO	Buy	First Community	$768,860,000	+4.8%	62,105	+1.4%	0.33%	+23.5%
IBCP	Buy	Independent Bank	$768,311,000	+8.9%	52,054	+0.0%	0.33%	+28.3%
BKS	New	Barnes & Noble	$763,015,000	–	63,007	–	0.33%	–
RAIL	Buy	FreightCar America	$750,390,000	-16.1%	43,729	+2.1%	0.32%	-0.9%
CVLY	Buy	Codorus Bancorp Inc	$732,068,000	+1.8%	36,045	+1.4%	0.32%	+20.2%
PFE	Buy	Pfizer	$711,908,000	-5.6%	22,665	+0.7%	0.31%	+11.3%
GNK	Buy	Genco Shipping	$698,166,000	-44.4%	178,559	+2.4%	0.30%	-34.5%
PEBK	Buy	Peoples Bancorp of NC	$677,968,000	-4.3%	38,741	+0.3%	0.29%	+12.7%
KO	Buy	Coca-Cola	$676,343,000	+3.1%	16,858	+0.8%	0.29%	+21.8%
IRDM	Buy	Iridium Communications	$672,687,000	-18.1%	109,380	+21.1%	0.29%	-3.3%
MDR	Buy	McDermott	$666,900,000	-12.1%	155,093	+9.2%	0.29%	+3.6%
SBFC	Buy	Southeastern Bank Financial	$656,858,000	+8.3%	20,211	+0.3%	0.28%	+28.1%
HFFC	Buy	HF Financial	$654,776,000	+7.3%	40,351	+0.3%	0.28%	+26.5%
	Sell	RAIT Financialconv bond	$641,712,000	-6.1%	775,000	-4.9%	0.28%	+10.8%
BYLK	Buy	Baylake Corp	$639,225,000	+11.9%	45,175	+0.0%	0.28%	+32.2%
NM	Buy	Navios Maritime Holdings	$637,938,000	+2665.9%	256,200	+4032.3%	0.28%	+3337.5%
ASRV	Buy	AmeriServ Financial	$609,613,000	-2.7%	188,152	+0.0%	0.26%	+14.4%
EMESQ	Sell	Emerge Energy	$598,630,000	-81.8%	88,424	-3.1%	0.26%	-78.5%
CSAL	Buy	Communications Sales & Leasing	$585,688,000	-19.7%	32,720	+10.9%	0.25%	-5.3%
INTC	Buy	Intel	$565,668,000	+0.4%	18,768	+1.3%	0.24%	+18.0%
UIS	Buy	Unisys	$547,936,000	-37.9%	46,045	+4.3%	0.24%	-26.7%
PAA	Sell	Plains All American Pipeline	$533,868,000	-34.9%	17,573	-6.6%	0.23%	-23.1%
YDKN	Sell	Yadkin Financial	$521,369,000	+1.7%	24,261	-0.8%	0.22%	+19.8%
UBOH	Buy	United Bancshares	$501,818,000	+4.4%	31,986	+3.1%	0.22%	+23.4%
PFBX	Buy	Peoples Financial	$497,009,000	-1.9%	51,238	+5.7%	0.21%	+15.7%
SLYV	Buy	SPDR S&P 600 Small Cap	$478,166,000	-9.2%	5,063	+2.1%	0.21%	+7.3%
XRM	Buy	Xerium Technologies	$463,392,000	-5.7%	35,700	+32.2%	0.20%	+11.2%
CSCO	Buy	Cisco Systems	$423,544,000	-3.0%	16,135	+1.5%	0.18%	+14.5%
TSBK	Buy	Timberland Bancorp	$423,131,000	+13.1%	38,855	+4.0%	0.18%	+32.8%
BAC	Buy	Bank of America	$414,490,000	+12.7%	26,604	+23.1%	0.18%	+32.8%
CFG	Buy	Citizens Financial Group	$394,811,000	-9.8%	16,547	+3.3%	0.17%	+6.2%
	Buy	Centrus Energy Corpconv bond	$384,124,000	-22.0%	1,280,415	+1.3%	0.16%	-8.3%
CIVB	New	Civista Bancshares	$331,980,000	–	32,772	–	0.14%	–
ET	Buy	Energy Transfer Equity	$277,023,000	-35.1%	13,312	+100.0%	0.12%	-23.7%
ETP	Sell	Energy Transfer Partners	$249,952,000	-60.7%	6,086	-50.1%	0.11%	-53.4%
RASF	New	RAIT Financial Trust	$242,048,000	–	48,800	–	0.10%	–
CWSA	Buy	Citigroup	$224,104,000	-28.4%	487,183	+15.1%	0.10%	-15.8%
SDRPQ	Sell	Sandridge Energyconv pref	$216,589,000	-72.7%	36,710	-0.5%	0.09%	-67.8%
T	Buy	A T & T	$214,474,000	-5.3%	6,583	+3.3%	0.09%	+10.8%
FBNC	Buy	First Bancorp	$214,317,000	+1.9%	12,607	+0.0%	0.09%	+19.5%
HA	Sell	Hawaiian Holdings	$197,119,000	-21.6%	7,987	-24.6%	0.08%	-7.6%
CJESQ	Buy	C & J Energy Services	$184,314,000	-69.7%	52,362	+13.6%	0.08%	-64.4%
ATLS	Sell	Atlas Energy Group	$161,946,000	-56.8%	72,621	-3.2%	0.07%	-48.9%
BHLB	Buy	Berkshire Hills Bancorp	$163,698,000	+3.7%	5,944	+7.2%	0.07%	+20.7%
WIN	Buy	Windstream Holdings	$142,473,000	-0.7%	23,204	+3.1%	0.06%	+17.3%
OMG	Sell	OM Group	$128,863,000	-90.6%	3,918	-90.4%	0.06%	-89.0%
CVCY	Buy	Central Valley Community	$106,843,000	+710.0%	8,830	+691.9%	0.05%	+820.0%
C	Buy	Citigroup	$96,095,000	+298.1%	1,937	+343.2%	0.04%	+355.6%
F	Buy	Ford	$76,134,000	+5.6%	5,610	+16.8%	0.03%	+26.9%
SDOCQ	Buy	SandRidge Energy	$76,140,000	+221.6%	281,999	+944.4%	0.03%	+266.7%
TNK	New	Teekay Tankers	$69,000,000	–	10,000	–	0.03%	–
TOO	Sell	Teekay Offshore Partners	$68,453,000	-30.8%	4,757	-2.8%	0.03%	-19.4%
KMIWS	Buy	Kinder Morgan	$61,769,000	-64.9%	67,140	+3.1%	0.03%	-57.8%
BACWSB	Buy	Bank of America	$60,375,000	-41.3%	215,625	+8.0%	0.03%	-31.6%
BBT	Buy	BB&T Corporation	$51,371,000	+41.6%	1,443	+60.3%	0.02%	+69.2%
SCHO	New	Schwab Short-Term U.S. Treasury	$35,228,000	–	693	–	0.02%	–
MPLX	Sell	MPLX LP	$27,702,000	-55.4%	725	-16.7%	0.01%	-47.8%
EZPW	New	EZCORP Inc	$19,497,000	–	3,160	–	0.01%	–
EOG	New	EOG Resources	$18,564,000	–	255	–	0.01%	–
PPBI	Sell	Pacific Premier Bancorp	$16,256,000	-95.1%	800	-95.9%	0.01%	-94.2%
OKS	Sell	ONEOK Partners	$14,630,000	-57.0%	500	-50.0%	0.01%	-50.0%
FSFG	New	First Savings Financial Group	$10,880,000	–	320	–	0.01%	–
UAN	New	CVR Partners	$9,350,000	–	1,000	–	0.00%	–
AKS	New	AK Steel	$7,230,000	–	3,000	–	0.00%	–
ARIA	New	Ariad Pharmaceuticals	$5,840,000	–	1,000	–	0.00%	–
TOL	Buy	Toll Brothers	$6,848,000	+79.3%	200	+100.0%	0.00%	+200.0%
DHI	Buy	DR Horton	$7,340,000	+78.8%	250	+66.7%	0.00%	+200.0%
FRC	New	First Republic Bank	$4,268,000	–	68	–	0.00%	–
LEU	Sell	Centrus Energy	$2,861,000	-98.5%	938	-97.9%	0.00%	-98.5%
DORLP	New	Doral Financialpref stk	$180,000	–	1,500	–	0.00%	–
NEM	New	Newmont Mining	$3,000	–	0	–	0.00%	–
GNKWF	New	Genco Shipping	$884,000	–	2,155	–	0.00%	–
AIGWS	New	American Int. Group	$182,000	–	8	–	0.00%	–
DRL	Exit	Doral Financial	$0	–	-2,000	–	0.00%	–
DORLN	New	Doral Financialpref stk	$80,000	–	1,000	–	0.00%	–
WEBC	Exit	Webco Ind	$0	–	-100	–	-0.00%	–
EROC	Exit	Eagle Rock Energy Partners	$0	–	-4,321	–	-0.00%	–
LGIH	Exit	LGI Homes	$0	–	-1,000	–	-0.01%	–
BOKF	Exit	BOK Financial	$0	–	-310	–	-0.01%	–
SUSQ	Exit	Susquehanna Banc	$0	–	-2,150	–	-0.01%	–
JNK	Exit	SPDR Barclays High Yield	$0	–	-1,000	–	-0.01%	–
CWB	Exit	SPDR Barclays Convertible	$0	–	-1,060	–	-0.02%	–
HON	Exit	Honeywell	$0	–	-500	–	-0.02%	–
PM	Exit	Philip Morris Int	$0	–	-1,398	–	-0.04%	–
COP	Exit	ConocoPhillips	$0	–	-3,476	–	-0.08%	–
VRX	Exit	Valeant Pharmaceuticals	$0	–	-977	–	-0.08%	–
RAS	Exit	RAIT Financial	$0	–	-46,800	–	-0.10%	–
CSFL	Exit	CenterState Banks	$0	–	-29,725	–	-0.15%	–
	Exit	Stillwater Miningconv bond	$0	–	-1,726,000	–	-0.44%	–
	Exit	Apollo Investment Corpconv bond	$0	–	-1,480,000	–	-0.55%	–
EXLP	Exit	Exterran Partners	$0	–	-83,956	–	-0.69%	–
QEPM	Exit	QEP Midstream LP	$0	–	-162,533	–	-1.04%	–
OCRPRB	Exit	Omnicareconv pref	$0	–	-27,377	–	-1.15%	–

Q2 2015

			Value		Shares		↓ Weighting
NGL	New	NGL Energy LP	$11,950,379,000	–	394,012	–	4.36%	–
WMB	New	Williams Companies	$11,918,789,000	–	207,681	–	4.35%	–
MMP	New	Magellan Midstream LP	$8,595,880,000	–	117,142	–	3.14%	–
DIA	New	SPDR Dow Jones Indl Avg	$7,752,091,000	–	44,091	–	2.83%	–
KMI	New	Kinder Morgan	$6,968,135,000	–	181,509	–	2.54%	–
MWE	New	MarkWest Energy	$5,276,999,000	–	93,597	–	1.92%	–
OKE	New	ONEOK	$4,994,253,000	–	126,501	–	1.82%	–
ENLK	New	EnLink Midstream LP	$4,818,482,000	–	219,321	–	1.76%	–
TK	New	Teekay Inc	$4,505,735,000	–	105,225	–	1.64%	–
GEL	New	Genesis Energy	$4,500,349,000	–	102,537	–	1.64%	–
AHGP	New	Alliance Holdings GP	$4,421,327,000	–	112,933	–	1.61%	–
RMP	New	Rice Midstream LP	$4,412,183,000	–	254,158	–	1.61%	–
	New	Alaska Communicationsconv bond	$4,354,331,000	–	4,390,000	–	1.59%	–
SHLX	New	Shell Midstream LP	$4,247,687,000	–	93,049	–	1.55%	–
PAGP	New	Plains GP Holdings	$4,168,716,000	–	161,328	–	1.52%	–
VTTI	New	VTTI Energy LP	$3,992,503,000	–	159,445	–	1.46%	–
	New	RAIT Financialconv bond	$3,645,031,000	–	3,325,000	–	1.33%	–
RRMS	New	Rose Rock Midstream	$3,575,330,000	–	76,478	–	1.30%	–
TGP	New	Teekay LNG LP	$3,381,451,000	–	105,014	–	1.23%	–
EMESQ	New	Emerge Energy Services	$3,293,584,000	–	91,235	–	1.20%	–
GS	New	Goldman Sachs	$3,192,817,000	–	15,292	–	1.16%	–
OCRPRB	New	Omnicareconv pref	$3,159,306,000	–	27,377	–	1.15%	–
NMM	New	Navios Maritime LP	$2,981,962,000	–	278,688	–	1.09%	–
QEPM	New	QEP Midstream LP	$2,849,203,000	–	162,533	–	1.04%	–
NGLS	New	Targa Resources	$2,840,803,000	–	73,596	–	1.04%	–
HEP	New	Holly Energy Partners	$2,830,562,000	–	80,551	–	1.03%	–
BGEPF	New	Bunge Ltdconv pref	$2,787,234,000	–	25,574	–	1.02%	–
QCRH	New	QCR Holdings	$2,725,739,000	–	125,264	–	1.00%	–
	New	AK Steelconv bond	$2,634,236,000	–	2,595,000	–	0.96%	–
IBM	New	IBM	$2,490,325,000	–	15,310	–	0.91%	–
	New	Broadsoft Incconv bond	$2,442,194,000	–	2,305,000	–	0.89%	–
	New	KB HOMEconv bond	$2,399,828,000	–	2,460,000	–	0.88%	–
MMM	New	3M Co.	$2,388,591,000	–	15,480	–	0.87%	–
	New	Titan Machineryconv bond	$2,350,262,000	–	2,881,000	–	0.86%	–
	New	Prospect Capital Corpconv bond	$2,290,737,000	–	2,279,000	–	0.84%	–
BANC	New	Banc of California	$2,234,667,000	–	162,521	–	0.82%	–
BA	New	Boeing	$2,222,017,000	–	16,018	–	0.81%	–
AAPL	New	Apple	$2,182,677,000	–	17,402	–	0.80%	–
	New	Blucora Incconv bond	$2,168,538,000	–	2,190,000	–	0.79%	–
	New	Navistar Intlconv bond	$2,097,519,000	–	2,460,000	–	0.76%	–
	New	General Cableconv bond	$2,082,724,000	–	2,455,000	–	0.76%	–
MMLP	New	Martin Midstream LP	$2,057,818,000	–	66,467	–	0.75%	–
PTQEP	New	PetroQuest Energyconv pref	$2,011,282,000	–	77,357	–	0.73%	–
	New	Quidel Corpconv bond	$1,940,628,000	–	1,945,000	–	0.71%	–
UNH	New	UnitedHealth Group	$1,897,588,000	–	15,554	–	0.69%	–
EXLP	New	Exterran Partners	$1,889,010,000	–	83,956	–	0.69%	–
	New	Cenveo Corpconv bond	$1,863,540,000	–	1,827,000	–	0.68%	–
CVX	New	Chevron Corporation	$1,832,448,000	–	18,995	–	0.67%	–
DIS	New	Walt Disney	$1,793,188,000	–	15,710	–	0.65%	–
HD	New	Home Depot	$1,784,081,000	–	16,054	–	0.65%	–
JNJ	New	Johnson & Johnson	$1,768,704,000	–	18,148	–	0.64%	–
XOM	New	Exxon Mobil	$1,698,944,000	–	20,420	–	0.62%	–
UTX	New	United Technologies	$1,693,568,000	–	15,267	–	0.62%	–
AYR	New	Aircastle LTD	$1,692,905,000	–	74,676	–	0.62%	–
MBWM	New	Mercantile Bank	$1,648,002,000	–	76,973	–	0.60%	–
ENLC	New	EnLink Midstream LLC	$1,644,353,000	–	52,890	–	0.60%	–
NKE	New	Nike	$1,634,559,000	–	15,132	–	0.60%	–
MCD	New	McDonalds	$1,611,912,000	–	16,955	–	0.59%	–
	New	Apollo Investment Corpconv bond	$1,507,202,000	–	1,480,000	–	0.55%	–
TRGP	New	Targa Resources Corp	$1,505,214,000	–	16,871	–	0.55%	–
TRV	New	Travelers	$1,476,868,000	–	15,279	–	0.54%	–
	New	Jefferies Groupconv bond	$1,454,294,000	–	1,422,000	–	0.53%	–
SBFG	New	SB Financial	$1,441,220,000	–	136,093	–	0.53%	–
KALU	New	Kaiser Aluminum	$1,410,366,000	–	16,976	–	0.52%	–
OMG	New	OM Group	$1,372,705,000	–	40,854	–	0.50%	–
OLN	New	Olin Corp	$1,364,087,000	–	50,615	–	0.50%	–
PG	New	Procter & Gamble	$1,341,660,000	–	17,148	–	0.49%	–
ALSK	New	Alaska Communications	$1,336,788,000	–	556,995	–	0.49%	–
JPM	New	JPMorgan Chase	$1,320,168,000	–	19,483	–	0.48%	–
CAT	New	Caterpillar	$1,285,193,000	–	15,152	–	0.47%	–
GNK	New	Genco Shipping	$1,254,989,000	–	174,304	–	0.46%	–
SFST	New	Southern First	$1,254,880,000	–	70,105	–	0.46%	–
	New	Stillwater Miningconv bond	$1,208,200,000	–	1,726,000	–	0.44%	–
WMT	New	Wal-Mart	$1,187,297,000	–	16,739	–	0.43%	–
AXP	New	American Express	$1,174,271,000	–	15,109	–	0.43%	–
DAKT	New	Daktronics	$1,166,668,000	–	98,370	–	0.43%	–
ONB	New	Old National Bancorp	$1,143,293,000	–	79,066	–	0.42%	–
AAL	New	American Airlines Group	$1,128,962,000	–	28,270	–	0.41%	–
EPD	New	Enterprise Products	$1,126,494,000	–	37,688	–	0.41%	–
SMMF	New	Summit Financial	$1,098,782,000	–	98,018	–	0.40%	–
MRK	New	Merck	$1,085,143,000	–	19,061	–	0.40%	–
DOOR	New	Masonite Int	$1,074,576,000	–	15,327	–	0.39%	–
DD	New	Du Pont	$1,043,600,000	–	16,319	–	0.38%	–
V	New	Visa	$1,014,099,000	–	15,102	–	0.37%	–
SUP	New	Superior Ind	$991,737,000	–	54,164	–	0.36%	–
RCII	New	Rent-A-Center	$968,436,000	–	34,160	–	0.35%	–
MDC	New	MDC Holdings	$947,711,000	–	31,622	–	0.35%	–
ARCB	New	Arcbest	$942,455,000	–	29,637	–	0.34%	–
VZ	New	Verizon	$935,463,000	–	20,070	–	0.34%	–
RSTI	New	Rofin-Sinar Tech	$930,258,000	–	33,705	–	0.34%	–
HVT	New	Haverty Furniture	$926,958,000	–	42,875	–	0.34%	–
FBMS	New	First Bancshares	$921,618,000	–	55,431	–	0.34%	–
RAIL	New	FreightCar America	$894,165,000	–	42,824	–	0.33%	–
EVBS	New	Eastern Virginia Bankshares	$893,653,000	–	141,625	–	0.33%	–
PFBI	New	Premier Financial	$891,695,000	–	57,715	–	0.32%	–
GE	New	General Electric	$891,411,000	–	33,550	–	0.32%	–
UIS	New	Unisys Corp	$882,559,000	–	44,150	–	0.32%	–
SPAR	New	Spartan Motors	$883,340,000	–	192,869	–	0.32%	–
	New	Cenveo Corpconv bond	$840,047,000	–	895,000	–	0.31%	–
IRDM	New	Iridium Communications	$820,963,000	–	90,315	–	0.30%	–
PAA	New	Plains All American LP	$820,118,000	–	18,823	–	0.30%	–
SDRPQ	New	Sandridge Energyconv pref	$793,350,000	–	36,900	–	0.29%	–
MSFT	New	Microsoft	$790,149,000	–	17,897	–	0.29%	–
MDR	New	McDermott Int	$758,483,000	–	142,038	–	0.28%	–
PFE	New	Pfizer	$754,425,000	–	22,500	–	0.28%	–
MFSF	New	MutualFirst	$745,145,000	–	32,077	–	0.27%	–
FCCO	New	First Community	$733,409,000	–	61,245	–	0.27%	–
CSAL	New	Comm Sales & Leasing	$729,240,000	–	29,500	–	0.27%	–
CVLY	New	Codorus Bancorp	$719,058,000	–	35,544	–	0.26%	–
PEBK	New	Peoples Bancorp of NC	$708,676,000	–	38,641	–	0.26%	–
IBCP	New	Independent Bank	$705,835,000	–	52,053	–	0.26%	–
	New	RAIT Financialconv bond	$683,240,000	–	815,000	–	0.25%	–
KO	New	Coca-Cola	$656,043,000	–	16,723	–	0.24%	–
ETP	New	Energy Transfer Partners	$636,109,000	–	12,186	–	0.23%	–
ASRV	New	AmeriServ Financial	$626,542,000	–	188,151	–	0.23%	–
NBBC	New	NewBridge Bancorp	$613,964,000	–	68,753	–	0.22%	–
HFFC	New	HF Financial	$610,304,000	–	40,231	–	0.22%	–
CJESQ	New	C & J Energy Services	$608,612,000	–	46,107	–	0.22%	–
SBFC	New	Southeastern Bank Fin	$606,395,000	–	20,146	–	0.22%	–
BYLK	New	Baylake Corp	$571,449,000	–	45,174	–	0.21%	–
INTC	New	Intel	$563,681,000	–	18,533	–	0.21%	–
HMNF	New	HMN Financial	$563,090,000	–	47,760	–	0.20%	–
FMCKI	New	Freddie Macpref stk	$561,950,000	–	147,300	–	0.20%	–
SLYV	New	SPDR S&P 600 Small Cap	$526,573,000	–	4,961	–	0.19%	–
YDKN	New	Yadkin Financial	$512,458,000	–	24,461	–	0.19%	–
PFBX	New	Peoples Financial	$506,647,000	–	48,483	–	0.18%	–
QEP	New	QEP Resources	$492,736,000	–	26,620	–	0.18%	–
	New	Centrus Energy Corpconv bond	$492,760,000	–	1,263,487	–	0.18%	–
XRM	New	Xerium Technologies	$491,500,000	–	27,005	–	0.18%	–
UBOH	New	United Bancshares	$480,585,000	–	31,026	–	0.18%	–
FRME	New	First Merchants	$477,204,000	–	19,320	–	0.17%	–
	New	Cal Dive Internationalconv bond	$469,242,000	–	4,550,000	–	0.17%	–
AF	New	Astoria Financial	$457,690,000	–	33,190	–	0.17%	–
ZION	New	Zions Bancorp	$457,492,000	–	14,416	–	0.17%	–
UCBI	New	United Community Banks	$446,827,000	–	21,410	–	0.16%	–
CFG	New	Citizens Financial	$437,561,000	–	16,022	–	0.16%	–
MSFG	New	MainSource Financial	$439,823,000	–	20,038	–	0.16%	–
CSCO	New	Cisco Systems	$436,614,000	–	15,900	–	0.16%	–
ET	New	Energy Transfer Equity	$427,116,000	–	6,656	–	0.16%	–
IYF	New	iShares DJ US Financial	$428,419,000	–	4,774	–	0.16%	–
WES	New	Western Gas LP	$418,242,000	–	6,600	–	0.15%	–
STI	New	SunTrust Banks	$408,725,000	–	9,501	–	0.15%	–
CSFL	New	CenterState Banks	$401,590,000	–	29,725	–	0.15%	–
ATLS	New	Atlas Energy Group	$374,943,000	–	74,988	–	0.14%	–
TSBK	New	Timberland Bancorp	$374,247,000	–	37,350	–	0.14%	–
BAC	New	Bank of America	$367,700,000	–	21,604	–	0.13%	–
PPBI	New	Pacific Premier	$329,024,000	–	19,400	–	0.12%	–
CWSA	New	Citigroup	$313,155,000	–	423,183	–	0.11%	–
EEM	New	iShares MSCI Emerging Markets	$301,706,000	–	7,615	–	0.11%	–
HFBC	New	HopFed Bancorp	$294,660,000	–	24,908	–	0.11%	–
RAS	New	RAIT Financial	$285,948,000	–	46,800	–	0.10%	–
MOFG	New	MidWest One	$286,371,000	–	8,699	–	0.10%	–
HA	New	Hawaiian Holdings	$251,441,000	–	10,587	–	0.09%	–
T	New	A T & T INC NEW	$226,404,000	–	6,374	–	0.08%	–
FCF	New	First Commonwealth	$219,400,000	–	22,878	–	0.08%	–
VRX	New	Valeant Pharmaceuticals	$217,115,000	–	977	–	0.08%	–
COP	New	ConocoPhillips	$213,461,000	–	3,476	–	0.08%	–
FBNC	New	First Bancorp	$210,274,000	–	12,606	–	0.08%	–
LEU	New	Centrus Energy	$186,102,000	–	45,061	–	0.07%	–
TIP	New	iShares Barclays TIPS	$183,086,000	–	1,634	–	0.07%	–
KMIWS	New	Kinder Morgan	$175,878,000	–	65,140	–	0.06%	–
BHLB	New	Berkshire Hills Bancorp	$157,893,000	–	5,544	–	0.06%	–
EXIXQ	New	Energy XXIconv pref	$153,986,000	–	4,500	–	0.06%	–
WIN	New	Windstream Holdings	$143,544,000	–	22,499	–	0.05%	–
FITB	New	Fifth Third Bancorp	$134,810,000	–	6,475	–	0.05%	–
CVO	New	Cenveo	$119,462,000	–	56,350	–	0.04%	–
FNB	New	F.N.B. Corporation	$120,918,000	–	8,444	–	0.04%	–
ARLP	New	Alliance Resource LP	$118,560,000	–	4,750	–	0.04%	–
FCCY	New	1st Constitution Bancorp.	$113,111,000	–	9,905	–	0.04%	–
PM	New	Philip Morris Int	$112,078,000	–	1,398	–	0.04%	–
BACWSB	New	Bank of America	$102,807,000	–	199,625	–	0.04%	–
TOO	New	Teekay Offshore LP	$98,985,000	–	4,893	–	0.04%	–
GULTU	New	Gulf Coast Ultra Deep	$75,950,000	–	108,500	–	0.03%	–
F	New	Ford Motor	$72,127,000	–	4,805	–	0.03%	–
TLP	New	Transmontaigne LP	$61,750,000	–	1,625	–	0.02%	–
MPLX	New	MPLX	$62,101,000	–	870	–	0.02%	–
DCBF	New	DCB Financial	$56,746,000	–	7,827	–	0.02%	–
WPX	New	WPX Energy	$56,852,000	–	4,630	–	0.02%	–
HON	New	Honeywell	$50,985,000	–	500	–	0.02%	–
WPZ	New	Williams Partners	$51,336,000	–	1,060	–	0.02%	–
CWB	New	SPDR Barclays Convertible	$50,424,000	–	1,060	–	0.02%	–
JNK	New	SPDR Barclays High Yield	$38,430,000	–	1,000	–	0.01%	–
EXXIQ	New	Energy XXI	$35,768,000	–	13,600	–	0.01%	–
BBT	New	BB&T Corporation	$36,279,000	–	900	–	0.01%	–
OKS	New	ONEOK Partners	$34,000,000	–	1,000	–	0.01%	–
BACPRL	New	Bank of Americaconv pref	$32,248,000	–	29	–	0.01%	–
SUSQ	New	Susquehanna Banc	$30,358,000	–	2,150	–	0.01%	–
TLLP	New	Tesoro Logistics LP	$28,560,000	–	500	–	0.01%	–
SWN	New	Southwestern Energy	$27,390,000	–	1,205	–	0.01%	–
	New	Capital Product Partners	$27,335,000	–	3,500	–	0.01%	–
SDOCQ	New	SandRidge Energy	$23,679,000	–	27,000	–	0.01%	–
C	New	Citigroup	$24,140,000	–	437	–	0.01%	–
SM	New	SM Energy	$23,291,000	–	505	–	0.01%	–
SVU	New	SUPERVALU	$21,034,000	–	2,600	–	0.01%	–
BOKF	New	BOK Financial	$21,578,000	–	310	–	0.01%	–
BNCN	New	BNC Bancorp	$23,196,000	–	1,200	–	0.01%	–
NM	New	Navios Holdings	$23,064,000	–	6,200	–	0.01%	–
AESPRC	New	A E Sconv pref	$20,849,000	–	410	–	0.01%	–
LGIH	New	LGI Homes	$19,780,000	–	1,000	–	0.01%	–
UMPQ	New	Umpqua Holdings	$19,789,000	–	1,100	–	0.01%	–
IP	New	International Paper	$17,370,000	–	365	–	0.01%	–
COFS	New	Choiceone Financial	$13,265,000	–	576	–	0.01%	–
OKSB	New	Southwest Bancorp	$13,027,000	–	700	–	0.01%	–
CVCY	New	Central Valley Comm Banc	$13,190,000	–	1,115	–	0.01%	–
CBF	New	Capital Bank Financial	$13,750,000	–	473	–	0.01%	–
AGM	New	Fed Ag Mortgage	$11,624,000	–	400	–	0.00%	–
EROC	New	Eagle Rock Energy Partners	$10,803,000	–	4,321	–	0.00%	–
BANR	New	Banner Corp	$9,600,000	–	200	–	0.00%	–
WLL	New	Whiting Petroleum	$5,040,000	–	150	–	0.00%	–
AOI	New	Alliance One Int	$4,782,000	–	200	–	0.00%	–
WEBC	New	Webco Ind	$5,750,000	–	100	–	0.00%	–
JPMWS	New	JP Morgan Chase	$4,950,000	–	200	–	0.00%	–
MTH	New	Meritage Homes	$4,709,000	–	100	–	0.00%	–
SPWR	New	SunPower Corporation	$6,705,000	–	236	–	0.00%	–
TOL	New	Toll Brothers	$3,819,000	–	100	–	0.00%	–
DHI	New	DR Horton	$4,104,000	–	150	–	0.00%	–
FNFG	New	First Niagara Financial	$1,699,000	–	180	–	0.00%	–
DRL	New	Doral Financial	$700,000	–	2,000	–	0.00%	–
PSTB	New	Park Sterling	$1,181,000	–	164	–	0.00%	–

Q4 2014

			Value		Shares		↓ Weighting
TISDZ	Exit	Treasure Island	$0	–	-15,000	–	-0.00%	–
JPMWS	Exit	JP Morgan	$0	–	-200	–	-0.00%	–
DORLN	Exit	Doral Financialpref stk	$0	–	-1,000	–	-0.00%	–
BWP	Exit	Boardwalk Pipeline	$0	–	-200	–	-0.00%	–
TOL	Exit	Toll Brothers	$0	–	-100	–	-0.00%	–
DHI	Exit	DR Horton	$0	–	-150	–	-0.00%	–
HNR	Exit	Harvest Natural Res	$0	–	-700	–	-0.00%	–
MTH	Exit	Meritage Homes	$0	–	-100	–	-0.00%	–
AOI	Exit	Alliance One Int	$0	–	-2,000	–	-0.00%	–
NM	Exit	Navios Holdings	$0	–	-1,000	–	-0.00%	–
BANR	Exit	Banner	$0	–	-200	–	-0.00%	–
SDOCQ	Exit	SandRidge Energy	$0	–	-2,240	–	-0.00%	–
SPWR	Exit	SunPower Corp	$0	–	-236	–	-0.00%	–
CWSA	Exit	Citigroup	$0	–	-9,500	–	-0.00%	–
AGM	Exit	Federal Agricultural Mtge	$0	–	-400	–	-0.00%	–
DRL	Exit	Doral Financial	$0	–	-2,000	–	-0.00%	–
CBF	Exit	Capital Bank Fin	$0	–	-473	–	-0.00%	–
OKSB	Exit	Southwest Bancorp	$0	–	-800	–	-0.00%	–
COFS	Exit	Choiceone Financial	$0	–	-576	–	-0.00%	–
UAN	Exit	CVR Partners LP	$0	–	-1,000	–	-0.00%	–
DORLP	Exit	Doral Financialpref stk	$0	–	-1,500	–	-0.00%	–
PESXQ	Exit	Pioneer Energy Serv	$0	–	-1,050	–	-0.00%	–
UMPQ	Exit	Umpqua Holdings	$0	–	-1,100	–	-0.01%	–
AESPRC	Exit	A E Sconv pref	$0	–	-410	–	-0.01%	–
SUSQ	Exit	Susquehanna Banc	$0	–	-2,150	–	-0.01%	–
LUV	Exit	Southwest Air	$0	–	-752	–	-0.01%	–
BACPRL	Exit	Bank of Americaconv pref	$0	–	-29	–	-0.01%	–
BBT	Exit	BB&T Corp	$0	–	-900	–	-0.01%	–
	Exit	Capital ProductLP	$0	–	-3,500	–	-0.01%	–
TNK	Exit	Teekay Tankers	$0	–	-10,000	–	-0.01%	–
DCBF	Exit	DCB Financial	$0	–	-7,827	–	-0.02%	–
F	Exit	Ford	$0	–	-5,562	–	-0.02%	–
FCCY	Exit	1st Constitution	$0	–	-9,204	–	-0.02%	–
FNB	Exit	F.N.B. Corp	$0	–	-8,444	–	-0.03%	–
RAS	Exit	RAIT Financial	$0	–	-14,800	–	-0.03%	–
FITB	Exit	Fifth Third Banc	$0	–	-5,325	–	-0.03%	–
RGP	Exit	Regency Energy LP	$0	–	-3,523	–	-0.03%	–
EXXIQ	Exit	Energy XXI	$0	–	-10,200	–	-0.03%	–
KMIWS	Exit	Kinder Morgan	$0	–	-33,325	–	-0.03%	–
BHLB	Exit	Berkshire Hills Banc	$0	–	-5,859	–	-0.04%	–
CVO	Exit	Cenveo	$0	–	-57,185	–	-0.04%	–
FCF	Exit	First Commonwealth Fin	$0	–	-23,563	–	-0.05%	–
TIP	Exit	iSharesTIPS Bond	$0	–	-1,748	–	-0.05%	–
ARLP	Exit	Alliance Partners LP	$0	–	-4,750	–	-0.05%	–
FBNC	Exit	First Bancorp	$0	–	-13,200	–	-0.06%	–
GULTU	Exit	Gulf Coast Ultra Deep	$0	–	-108,500	–	-0.06%	–
MOFG	Exit	MidWest One	$0	–	-9,534	–	-0.06%	–
WPX	Exit	WPX Energy	$0	–	-9,913	–	-0.06%	–
PPBI	Exit	Pacific Premier	$0	–	-20,940	–	-0.08%	–
HFBC	Exit	HopFed Bancorp	$0	–	-25,892	–	-0.08%	–
EEM	Exit	iShares MSCI Emerging Markets	$0	–	-7,615	–	-0.08%	–
CSFL	Exit	CenterState	$0	–	-32,150	–	-0.09%	–
BAC	Exit	Bank of America	$0	–	-19,729	–	-0.09%	–
UCBI	Exit	United Community Banks	$0	–	-21,200	–	-0.09%	–
STI	Exit	SunTrust Banks	$0	–	-9,305	–	-0.09%	–
MDY	Exit	SPDR S&P MidCap	$0	–	-1,454	–	-0.09%	–
MSFG	Exit	MainSource Financial	$0	–	-21,481	–	-0.10%	–
FCCO	Exit	First Community	$0	–	-36,695	–	-0.10%	–
FRME	Exit	First Merchants	$0	–	-19,745	–	-0.10%	–
IYF	Exit	iShares DJ US Fin	$0	–	-4,774	–	-0.10%	–
TSBK	Exit	Timberland Banc	$0	–	-39,725	–	-0.11%	–
AF	Exit	Astoria Fin	$0	–	-34,750	–	-0.11%	–
XRM	Exit	Xerium Technologies	$0	–	-30,035	–	-0.11%	–
CSCO	Exit	Cisco	$0	–	-17,465	–	-0.11%	–
YDKN	Exit	Yadkin Financial	$0	–	-24,761	–	-0.12%	–
ZION	Exit	Zions Bancorp	$0	–	-15,451	–	-0.12%	–
OXF	Exit	Oxford ResourceLP	$0	–	-573,299	–	-0.12%	–
UBOH	Exit	United Bancshares	$0	–	-30,629	–	-0.12%	–
FNFG	Exit	First Niagara	$0	–	-56,145	–	-0.12%	–
LEU	Exit	Centrus Energy	$0	–	-46,156	–	-0.12%	–
SBFC	Exit	Southeastern Bank	$0	–	-20,366	–	-0.13%	–
SLYV	Exit	SPDR S&P 600	$0	–	-5,014	–	-0.13%	–
	Exit	RAIT Financialconv bond	$0	–	-575,000	–	-0.14%	–
PFBX	Exit	Peoples Financial	$0	–	-40,815	–	-0.14%	–
HFFC	Exit	HF Financial	$0	–	-40,706	–	-0.14%	–
BNCN	Exit	BNC Bancorp	$0	–	-35,439	–	-0.14%	–
NBBC	Exit	NewBridge	$0	–	-74,418	–	-0.15%	–
BYLK	Exit	Baylake	$0	–	-50,291	–	-0.15%	–
ET	Exit	Energy Transfer Equity	$0	–	-9,840	–	-0.16%	–
HMNF	Exit	HMN Financial	$0	–	-48,220	–	-0.16%	–
TOO	Exit	Teekay Offshore	$0	–	-18,893	–	-0.16%	–
PEBK	Exit	Peoples Bancorp	$0	–	-37,806	–	-0.17%	–
IBCP	Exit	Independent Bank	$0	–	-54,255	–	-0.17%	–
ASRV	Exit	AmeriServ Fin	$0	–	-198,221	–	-0.17%	–
KMR	Exit	Kinder Morgan LLC	$0	–	-6,969	–	-0.17%	–
IBCA	Exit	Intervest Banc	$0	–	-70,155	–	-0.17%	–
MDR	Exit	McDermott Int	$0	–	-119,483	–	-0.18%	–
RSTI	Exit	Rofin-Sinar Tech	$0	–	-29,840	–	-0.18%	–
SMMF	Exit	Summit Financial	$0	–	-67,392	–	-0.18%	–
CVLY	Exit	Codorus Banc	$0	–	-34,486	–	-0.18%	–
INTC	Exit	Intel	$0	–	-20,223	–	-0.18%	–
MFSF	Exit	MutualFirst	$0	–	-33,250	–	-0.19%	–
FBMS	Exit	First Bancshares	$0	–	-51,861	–	-0.19%	–
PFE	Exit	Pfizer	$0	–	-25,328	–	-0.19%	–
KO	Exit	Coca-Cola	$0	–	-18,098	–	-0.20%	–
PFBI	Exit	Premier Financial	$0	–	-53,490	–	-0.20%	–
MDC	Exit	MDC Holdings	$0	–	-32,275	–	-0.21%	–
EXIXQ	Exit	Energy XXIconv pref	$0	–	-4,200	–	-0.21%	–
IRDM	Exit	Iridium Comm	$0	–	-95,356	–	-0.22%	–
T	Exit	A T & T	$0	–	-24,743	–	-0.22%	–
EVBS	Exit	Eastern Virginia Bks	$0	–	-141,479	–	-0.23%	–
GE	Exit	General Electric	$0	–	-34,915	–	-0.23%	–
SPAR	Exit	Spartan Motors	$0	–	-192,136	–	-0.23%	–
MSFT	Exit	Microsoft	$0	–	-19,553	–	-0.23%	–
	Exit	Centrus Energyconv bond	$0	–	-1,297,647	–	-0.24%	–
ATLS	Exit	Atlas Energy LP	$0	–	-21,010	–	-0.24%	–
SUP	Exit	Superior Industries	$0	–	-52,784	–	-0.24%	–
SVU	Exit	SUPERVALU	$0	–	-103,259	–	-0.24%	–
	Exit	Cenveo Corp. - Convert.conv bond	$0	–	-905,000	–	-0.24%	–
SONC	Exit	Sonic	$0	–	-42,400	–	-0.24%	–
DOOR	Exit	Masonite	$0	–	-17,184	–	-0.25%	–
ETP	Exit	Energy Transfer Partners	$0	–	-15,041	–	-0.25%	–
GNK	Exit	Genco Shipping	$0	–	-49,855	–	-0.26%	–
AAL	Exit	American Airlines	$0	–	-28,270	–	-0.26%	–
SFST	Exit	Southern First	$0	–	-74,245	–	-0.27%	–
UIS	Exit	Unisys	$0	–	-44,855	–	-0.27%	–
ARCB	Exit	Arcbest	$0	–	-28,841	–	-0.28%	–
RCII	Exit	Rent-A-Center	$0	–	-35,730	–	-0.28%	–
ONB	Exit	Old National Banc	$0	–	-87,410	–	-0.29%	–
OMG	Exit	OM Group	$0	–	-44,032	–	-0.30%	–
VZ	Exit	Verizon	$0	–	-23,165	–	-0.30%	–
DAKT	Exit	Daktronics	$0	–	-94,368	–	-0.30%	–
WPZ	Exit	Williams Partners	$0	–	-22,050	–	-0.30%	–
FMCKI	Exit	Freddie Macpref stk	$0	–	-147,300	–	-0.31%	–
DD	Exit	Du Pont	$0	–	-17,092	–	-0.32%	–
L109PS	Exit	Access Midstream LP	$0	–	-19,335	–	-0.32%	–
OLN	Exit	Olin	$0	–	-49,975	–	-0.33%	–
NGLS	Exit	Targa Resources	$0	–	-17,500	–	-0.33%	–
MRK	Exit	Merck	$0	–	-21,450	–	-0.33%	–
JPM	Exit	JPMorgan	$0	–	-21,501	–	-0.34%	–
CJES	Exit	C & J Energy	$0	–	-42,865	–	-0.34%	–
SBFG	Exit	SB Financial	$0	–	-144,990	–	-0.34%	–
	Exit	Cal Diveconv bond	$0	–	-2,050,000	–	-0.34%	–
	Exit	Coeur D'Aleneconv bond	$0	–	-1,336,000	–	-0.35%	–
RAIL	Exit	FreightCar America	$0	–	-41,278	–	-0.36%	–
WMT	Exit	Wal-Mart	$0	–	-18,205	–	-0.36%	–
KALU	Exit	Kaiser Aluminum	$0	–	-18,377	–	-0.36%	–
UNH	Exit	UnitedHealth Group	$0	–	-16,246	–	-0.36%	–
NKE	Exit	Nike	$0	–	-15,862	–	-0.37%	–
AXP	Exit	American Express	$0	–	-16,239	–	-0.37%	–
4945SC	Exit	Kinder Morgan LP	$0	–	-15,348	–	-0.37%	–
DIS	Exit	Walt Disney	$0	–	-16,879	–	-0.39%	–
MBWM	Exit	Mercantile Bank	$0	–	-81,084	–	-0.40%	–
TRV	Exit	Travelers	$0	–	-16,615	–	-0.40%	–
PG	Exit	Procter & Gamble	$0	–	-18,888	–	-0.41%	–
HD	Exit	Home Depot	$0	–	-17,613	–	-0.42%	–
CAT	Exit	Caterpillar	$0	–	-16,393	–	-0.42%	–
	Exit	Jefferiesconv bond	$0	–	-1,557,000	–	-0.43%	–
UTX	Exit	United Technologies	$0	–	-16,388	–	-0.45%	–
MCD	Exit	McDonald's	$0	–	-18,985	–	-0.46%	–
	Exit	Stillwater Miningconv bond	$0	–	-1,851,000	–	-0.47%	–
PAA	Exit	Plains All American LP	$0	–	-31,579	–	-0.48%	–
	Exit	General Cableconv bond	$0	–	-2,685,000	–	-0.48%	–
BANC	Exit	Banc of California	$0	–	-163,673	–	-0.49%	–
JNJ	Exit	Johnson & Johnson	$0	–	-20,062	–	-0.55%	–
QCRH	Exit	QCR Holdings	$0	–	-121,586	–	-0.56%	–
	Exit	Dendreonconv bond	$0	–	-3,140,000	–	-0.56%	–
BA	Exit	Boeing	$0	–	-17,023	–	-0.56%	–
OCRPRB	Exit	Omnicareconv pref	$0	–	-28,916	–	-0.57%	–
	Exit	Hawaiian Holdingsconv bond	$0	–	-1,250,000	–	-0.58%	–
	Exit	Broadsoftconv bond	$0	–	-2,300,000	–	-0.58%	–
	Exit	Titan Machineryconv bond	$0	–	-2,977,000	–	-0.59%	–
XOM	Exit	Exxon Mobil	$0	–	-24,432	–	-0.59%	–
	Exit	KB HOMEconv bond	$0	–	-2,410,000	–	-0.60%	–
	Exit	Genco Shippingconv bond	$0	–	-2,335,000	–	-0.60%	–
MMM	Exit	3M	$0	–	-16,597	–	-0.61%	–
	Exit	Prospect Capitalconv bond	$0	–	-2,374,000	–	-0.63%	–
CVX	Exit	Chevron Corp	$0	–	-20,980	–	-0.65%	–
	Exit	Auxilium Pharmconv bond	$0	–	-1,915,000	–	-0.66%	–
HA	Exit	Hawaiian Holdings	$0	–	-191,000	–	-0.66%	–
AYR	Exit	Aircastle	$0	–	-158,799	–	-0.67%	–
ENLC	Exit	EnLink LLC	$0	–	-62,880	–	-0.67%	–
PTQEP	Exit	PetroQuestconv pref	$0	–	-66,457	–	-0.74%	–
EXLP	Exit	Exterran Partners	$0	–	-98,338	–	-0.74%	–
GS	Exit	Goldman Sachs	$0	–	-15,957	–	-0.76%	–
BGEPF	Exit	Bunge Ltdconv pref	$0	–	-27,052	–	-0.76%	–
IBM	Exit	IBM	$0	–	-16,431	–	-0.81%	–
V	Exit	Visa	$0	–	-15,797	–	-0.87%	–
	Exit	Alaska Commconv bond	$0	–	-4,325,000	–	-0.90%	–
KMI	Exit	Kinder Morgan Inc	$0	–	-97,379	–	-0.96%	–
EPD	Exit	Enterprise Products LP	$0	–	-94,588	–	-0.98%	–
SDRPQ	Exit	Sandridge Energyconv pref	$0	–	-39,800	–	-1.00%	–
MMLP	Exit	Martin Midstream LP	$0	–	-104,862	–	-1.01%	–
EROC	Exit	Eagle Rock LP	$0	–	-1,141,406	–	-1.05%	–
HEP	Exit	Holly Energy LP	$0	–	-111,816	–	-1.05%	–
	Exit	RAIT Financialconv bond	$0	–	-3,472,000	–	-1.12%	–
2108SC	Exit	El Paso Pipeline	$0	–	-122,090	–	-1.27%	–
QEPM	Exit	QEP Midstream LP	$0	–	-208,905	–	-1.28%	–
NMM	Exit	Navios LP	$0	–	-291,861	–	-1.34%	–
EMESQ	Exit	Emerge Energy LP	$0	–	-46,685	–	-1.39%	–
TGP	Exit	Teekay LNG	$0	–	-128,729	–	-1.45%	–
GEL	Exit	Genesis Energy	$0	–	-120,131	–	-1.63%	–
RRMS	Exit	Rose Rock Midstream	$0	–	-114,923	–	-1.76%	–
TLP	Exit	Transmontaigne LP	$0	–	-173,080	–	-1.84%	–
DIA	Exit	SPDR DJIA	$0	–	-43,106	–	-1.90%	–
DCP	Exit	DCP MidstreamLP LP	$0	–	-141,297	–	-1.99%	–
QEP	Exit	QEP Resources	$0	–	-277,920	–	-2.21%	–
APL	Exit	Atlas Pipeline LP	$0	–	-241,785	–	-2.28%	–
ENLK	Exit	EnLink LP	$0	–	-298,066	–	-2.35%	–
OKE	Exit	ONEOK	$0	–	-154,353	–	-2.62%	–
OKS	Exit	ONEOK LP	$0	–	-184,180	–	-2.66%	–
AHGP	Exit	Alliance GP	$0	–	-163,455	–	-2.88%	–
MWE	Exit	MarkWest Energy LP	$0	–	-159,496	–	-3.17%	–
MMP	Exit	Magellan Midstream LP	$0	–	-176,913	–	-3.85%	–
WMB	Exit	Williams Companies	$0	–	-416,735	–	-5.96%	–
NGL	Exit	NGL Energy LP	$0	–	-634,263	–	-6.45%	–

Q3 2014

			Value		Shares		↓ Weighting
NGL	Sell	NGL Energy LP	$24,970,944,000	-28.0%	634,263	-20.7%	6.45%	-23.9%
WMB	Buy	Williams Companies	$23,066,275,000	+3.0%	416,735	+8.4%	5.96%	+8.9%
MMP	Buy	Magellan Midstream LP	$14,892,536,000	+1.3%	176,913	+1.1%	3.85%	+7.0%
MWE	Buy	MarkWest Energy LP	$12,252,483,000	+12.2%	159,496	+4.6%	3.17%	+18.6%
AHGP	Sell	Alliance GP	$11,154,169,000	+3.7%	163,455	-1.6%	2.88%	+9.5%
OKS	Sell	ONEOK LP	$10,306,713,000	-23.5%	184,180	-19.9%	2.66%	-19.2%
OKE	Sell	ONEOK	$10,117,854,000	-5.7%	154,353	-2.0%	2.62%	-0.3%
ENLK	Buy	EnLink LP	$9,076,110,000	-0.7%	298,066	+2.5%	2.35%	+4.9%
APL	Sell	Atlas Pipeline LP	$8,815,481,000	+5.4%	241,785	-0.5%	2.28%	+11.4%
QEP	Buy	QEP Resources	$8,554,379,000	-6.1%	277,920	+5.2%	2.21%	-0.8%
DCP	Sell	DCP MidstreamLP LP	$7,693,622,000	-6.2%	141,297	-1.8%	1.99%	-0.9%
DIA	Buy	SPDR DJIA	$7,330,981,000	+63.3%	43,106	+61.2%	1.90%	+72.6%
TLP	Sell	Transmontaigne LP	$7,137,819,000	-15.4%	173,080	-10.3%	1.84%	-10.6%
RRMS	Sell	Rose Rock Midstream	$6,797,675,000	-45.2%	114,923	-49.4%	1.76%	-42.1%
GEL	Buy	Genesis Energy	$6,323,696,000	-3.6%	120,131	+2.6%	1.63%	+1.8%
TGP	Buy	Teekay LNG	$5,607,435,000	-4.4%	128,729	+1.2%	1.45%	+1.0%
EMESQ	Buy	Emerge Energy LP	$5,382,781,000	+9.9%	46,685	+0.9%	1.39%	+16.1%
NMM	Sell	Navios LP	$5,203,882,000	-9.5%	291,861	-1.3%	1.34%	-4.3%
QEPM	Buy	QEP Midstream LP	$4,948,959,000	-5.2%	208,905	+3.0%	1.28%	+0.2%
2108SC	Sell	El Paso Pipeline	$4,903,134,000	+2.9%	122,090	-7.2%	1.27%	+8.7%
	Sell	RAIT Financialconv bond	$4,342,083,000	-16.6%	3,472,000	-10.1%	1.12%	-11.9%
HEP	Sell	Holly Energy LP	$4,070,102,000	+0.3%	111,816	-5.2%	1.05%	+6.0%
EROC	Sell	Eagle Rock LP	$4,063,405,000	-28.7%	1,141,406	-0.2%	1.05%	-24.7%
MMLP	Buy	Martin Midstream LP	$3,910,304,000	-8.4%	104,862	+1.1%	1.01%	-3.3%
SDRPQ	Sell	Sandridge Energyconv pref	$3,860,600,000	-17.5%	39,800	-3.9%	1.00%	-12.8%
EPD	Buy	Enterprise Products LP	$3,811,881,000	+0.2%	94,588	+94.6%	0.98%	+5.8%
KMI	Sell	Kinder Morgan Inc	$3,733,529,000	-22.1%	97,379	-26.4%	0.96%	-17.7%
	New	Alaska Commconv bond	$3,479,315,000	–	4,325,000	–	0.90%	–
V	Buy	Visa	$3,370,606,000	+24.0%	15,797	+22.4%	0.87%	+31.0%
IBM	Buy	IBM	$3,119,097,000	+25.9%	16,431	+20.2%	0.81%	+33.0%
BGEPF	Sell	Bunge Ltdconv pref	$2,941,905,000	-8.4%	27,052	-12.4%	0.76%	-3.2%
GS	Buy	Goldman Sachs	$2,929,226,000	+35.1%	15,957	+23.2%	0.76%	+42.8%
EXLP	Buy	Exterran Partners	$2,884,254,000	+6.2%	98,338	+2.4%	0.74%	+12.2%
PTQEP	Sell	PetroQuestconv pref	$2,857,651,000	-16.7%	66,457	-11.6%	0.74%	-12.0%
ENLC	Sell	EnLink LLC	$2,598,835,000	-3.0%	62,880	-2.2%	0.67%	+2.6%
AYR	Sell	Aircastle	$2,597,952,000	-9.0%	158,799	-1.2%	0.67%	-3.9%
HA	Sell	Hawaiian Holdings	$2,568,950,000	-5.8%	191,000	-4.0%	0.66%	-0.4%
	Sell	Auxilium Pharmconv bond	$2,541,741,000	+7.2%	1,915,000	-12.4%	0.66%	+13.3%
CVX	Buy	Chevron Corp	$2,503,334,000	+6.6%	20,980	+16.6%	0.65%	+12.7%
	New	Prospect Capitalconv bond	$2,436,579,000	–	2,374,000	–	0.63%	–
MMM	Buy	3M	$2,351,395,000	+19.6%	16,597	+20.9%	0.61%	+26.4%
	Sell	Genco Shippingconv bond	$2,335,000,000	-36.4%	2,335,000	-36.4%	0.60%	-32.9%
	Sell	KB HOMEconv bond	$2,316,974,000	-15.9%	2,410,000	-12.2%	0.60%	-11.1%
XOM	Buy	Exxon Mobil	$2,297,830,000	+5.9%	24,432	+13.4%	0.59%	+11.9%
	Sell	Titan Machineryconv bond	$2,280,918,000	-22.8%	2,977,000	-11.5%	0.59%	-18.5%
	Sell	Broadsoftconv bond	$2,245,106,000	-11.6%	2,300,000	-8.0%	0.58%	-6.6%
OCRPRB	Sell	Omnicareconv pref	$2,213,520,000	-12.9%	28,916	-7.1%	0.57%	-8.0%
BA	Buy	Boeing	$2,168,390,000	+19.8%	17,023	+19.7%	0.56%	+26.4%
	Sell	Dendreonconv bond	$2,150,900,000	-10.7%	3,140,000	-8.7%	0.56%	-5.6%
QCRH	Sell	QCR Holdings	$2,147,210,000	+1.2%	121,586	-1.2%	0.56%	+6.9%
JNJ	Buy	Johnson & Johnson	$2,138,409,000	+18.1%	20,062	+16.0%	0.55%	+24.8%
BANC	Buy	Banc of California	$1,903,517,000	+7.5%	163,673	+0.7%	0.49%	+13.6%
	Sell	General Cableconv bond	$1,866,639,000	-36.0%	2,685,000	-8.2%	0.48%	-32.4%
PAA	Sell	Plains All American LP	$1,858,740,000	-3.2%	31,579	-1.3%	0.48%	+2.1%
	Sell	Stillwater Miningconv bond	$1,834,489,000	-13.9%	1,851,000	-12.9%	0.47%	-9.0%
MCD	Buy	McDonald's	$1,799,968,000	+10.8%	18,985	+17.8%	0.46%	+17.1%
UTX	Buy	United Technologies	$1,730,573,000	+9.6%	16,388	+19.9%	0.45%	+15.8%
	Sell	Jefferiesconv bond	$1,655,947,000	-17.1%	1,557,000	-16.8%	0.43%	-12.5%
CAT	Buy	Caterpillar	$1,623,399,000	+11.1%	16,393	+21.9%	0.42%	+17.6%
HD	Buy	Home Depot	$1,615,817,000	+34.5%	17,613	+18.7%	0.42%	+42.2%
PG	Buy	Procter & Gamble	$1,581,681,000	+25.6%	18,888	+17.8%	0.41%	+32.8%
TRV	Buy	Travelers	$1,560,813,000	+21.7%	16,615	+21.9%	0.40%	+28.3%
MBWM	Sell	Mercantile Bank	$1,544,647,000	-18.0%	81,084	-1.5%	0.40%	-13.4%
DIS	Buy	Walt Disney	$1,502,737,000	+25.8%	16,879	+21.2%	0.39%	+32.9%
4945SC	Buy	Kinder Morgan LP	$1,431,661,000	+15.3%	15,348	+1.6%	0.37%	+21.7%
AXP	Buy	American Express	$1,421,562,000	+12.3%	16,239	+21.7%	0.37%	+18.4%
NKE	Buy	Nike	$1,414,890,000	+41.9%	15,862	+23.4%	0.37%	+50.0%
KALU	Sell	Kaiser Aluminum	$1,400,695,000	-6.3%	18,377	-10.4%	0.36%	-1.1%
UNH	Buy	UnitedHealth Group	$1,401,218,000	+28.4%	16,246	+21.7%	0.36%	+35.6%
WMT	Buy	Wal-Mart	$1,392,136,000	+17.6%	18,205	+15.5%	0.36%	+24.6%
RAIL	Buy	FreightCar America	$1,374,557,000	+73.3%	41,278	+30.3%	0.36%	+83.0%
	Sell	Coeur D'Aleneconv bond	$1,345,218,000	-9.2%	1,336,000	-8.9%	0.35%	-3.9%
	New	Cal Diveconv bond	$1,335,063,000	–	2,050,000	–	0.34%	–
SBFG	Sell	SB Financial	$1,312,174,000	+6.8%	144,990	-1.2%	0.34%	+13.0%
CJES	Buy	C & J Energy	$1,309,526,000	-6.7%	42,865	+3.2%	0.34%	-1.5%
JPM	Buy	JPMorgan	$1,295,220,000	+20.0%	21,501	+14.7%	0.34%	+26.9%
MRK	Buy	Merck	$1,271,556,000	+18.3%	21,450	+15.5%	0.33%	+25.1%
OLN	Sell	Olin	$1,261,876,000	-15.9%	49,975	-10.3%	0.33%	-11.2%
DD	Buy	Du Pont	$1,226,522,000	+33.6%	17,092	+21.9%	0.32%	+41.5%
WPZ	Sell	Williams Partners	$1,169,753,000	-4.5%	22,050	-2.2%	0.30%	+1.0%
DAKT	Buy	Daktronics	$1,159,783,000	+17.4%	94,368	+13.9%	0.30%	+24.0%
VZ	Buy	Verizon	$1,158,018,000	+22.7%	23,165	+20.1%	0.30%	+29.4%
OMG	Buy	OM Group	$1,142,624,000	-4.4%	44,032	+19.5%	0.30%	+1.0%
ONB	New	Old National Banc	$1,133,714,000	–	87,410	–	0.29%	–
RCII	Buy	Rent-A-Center	$1,084,406,000	+8.4%	35,730	+2.5%	0.28%	+14.3%
ARCB	Buy	Arcbest	$1,075,778,000	+7.9%	28,841	+25.9%	0.28%	+13.9%
UIS	Sell	Unisys	$1,050,056,000	-7.4%	44,855	-2.1%	0.27%	-2.2%
SFST	Sell	Southern First	$1,034,604,000	+3.1%	74,245	-0.4%	0.27%	+9.0%
GNK	New	Genco Shipping	$997,100,000	–	49,855	–	0.26%	–
ETP	Sell	Energy Transfer Partners	$962,473,000	-0.3%	15,041	-9.7%	0.25%	+5.5%
DOOR	Sell	Masonite	$951,650,000	-2.6%	17,184	-1.0%	0.25%	+2.9%
SONC	Buy	Sonic	$948,064,000	+10.6%	42,400	+9.2%	0.24%	+16.7%
	Sell	Cenveo Corp. - Convert.conv bond	$940,295,000	-19.7%	905,000	-9.5%	0.24%	-15.3%
SVU	Sell	SUPERVALU	$923,135,000	-1.1%	103,259	-9.1%	0.24%	+4.8%
SUP	Buy	Superior Industries	$925,298,000	-13.9%	52,784	+1.3%	0.24%	-9.1%
ATLS	New	Atlas Energy LP	$924,440,000	–	21,010	–	0.24%	–
	New	Centrus Energyconv bond	$908,353,000	–	1,297,647	–	0.24%	–
MSFT	Buy	Microsoft	$906,468,000	+19.6%	19,553	+7.6%	0.23%	+26.5%
SPAR	Buy	Spartan Motors	$897,275,000	+5.9%	192,136	+2.9%	0.23%	+12.1%
GE	Buy	General Electric	$894,520,000	+5.0%	34,915	+7.7%	0.23%	+11.1%
EVBS	Buy	Eastern Virginia Bks	$879,985,000	-2.5%	141,479	+0.3%	0.23%	+2.7%
T	Buy	A T & T	$871,943,000	+11.7%	24,743	+12.1%	0.22%	+17.8%
IRDM	Sell	Iridium Comm	$843,901,000	-5.3%	95,356	-9.4%	0.22%	0.0%
EXIXQ	Buy	Energy XXIconv pref	$815,065,000	-28.6%	4,200	+0.9%	0.21%	-24.4%
MDC	Sell	MDC Holdings	$817,203,000	-18.2%	32,275	-2.2%	0.21%	-13.5%
PFBI	Buy	Premier Financial	$783,094,000	-8.5%	53,490	+0.5%	0.20%	-3.3%
KO	Buy	Coca-Cola	$772,061,000	+14.2%	18,098	+13.4%	0.20%	+21.2%
PFE	Buy	Pfizer	$748,949,000	+11.3%	25,328	+11.7%	0.19%	+17.6%
FBMS	Buy	First Bancshares	$749,417,000	+3.5%	51,861	+1.7%	0.19%	+9.6%
MFSF	Sell	MutualFirst	$748,133,000	+17.2%	33,250	-0.6%	0.19%	+23.7%
INTC	Buy	Intel	$704,165,000	+30.6%	20,223	+15.9%	0.18%	+37.9%
CVLY	Buy	Codorus Banc	$705,239,000	-3.1%	34,486	+0.1%	0.18%	+2.2%
SMMF	Buy	Summit Financial	$690,768,000	-3.6%	67,392	+0.1%	0.18%	+2.3%
RSTI	Buy	Rofin-Sinar Tech	$688,110,000	+25.4%	29,840	+30.7%	0.18%	+32.8%
MDR	Buy	McDermott Int	$683,443,000	-29.0%	119,483	+0.4%	0.18%	-25.0%
IBCA	Sell	Intervest Banc	$670,682,000	+17.8%	70,155	-4.6%	0.17%	+24.5%
KMR	Sell	Kinder Morgan LLC	$656,145,000	+18.8%	6,969	-0.4%	0.17%	+25.9%
ASRV	Sell	AmeriServ Fin	$654,129,000	-5.6%	198,221	-0.4%	0.17%	0.0%
IBCP	Sell	Independent Bank	$646,720,000	-8.4%	54,255	-1.1%	0.17%	-3.5%
PEBK	Buy	Peoples Bancorp	$641,039,000	+7.1%	37,806	+1.0%	0.17%	+13.7%
TOO	Sell	Teekay Offshore	$634,805,000	-7.9%	18,893	-1.0%	0.16%	-3.0%
ET	Sell	Energy Transfer Equity	$607,030,000	-90.5%	9,840	-90.1%	0.16%	-90.0%
BYLK	Buy	Baylake	$596,954,000	-1.8%	50,291	+3.6%	0.15%	+3.4%
NBBC	Sell	NewBridge	$564,833,000	-6.6%	74,418	-0.8%	0.15%	-1.4%
BNCN	Sell	BNC Bancorp	$554,975,000	-9.0%	35,439	-0.8%	0.14%	-4.0%
HFFC	Sell	HF Financial	$547,089,000	-3.9%	40,706	-0.7%	0.14%	+1.4%
PFBX	Buy	Peoples Financial	$540,391,000	+5.1%	40,815	+6.0%	0.14%	+11.1%
	Sell	RAIT Financialconv bond	$537,163,000	-11.8%	575,000	-8.0%	0.14%	-6.7%
SLYV	Buy	SPDR S&P 600	$513,020,000	+35.0%	5,014	+45.5%	0.13%	+43.0%
SBFC	Buy	Southeastern Bank	$496,930,000	+6.9%	20,366	+1.2%	0.13%	+12.3%
LEU	New	Centrus Energy	$471,256,000	–	46,156	–	0.12%	–
FNFG	Sell	First Niagara	$467,688,000	-5.1%	56,145	-0.4%	0.12%	0.0%
UBOH	Sell	United Bancshares	$458,815,000	+11.5%	30,629	-0.3%	0.12%	+17.8%
OXF	Sell	Oxford ResourceLP	$457,493,000	-5.3%	573,299	-0.3%	0.12%	0.0%
YDKN	Sell	Yadkin Financial	$449,659,000	-4.7%	24,761	-1.1%	0.12%	+0.9%
ZION	Sell	Zions Bancorp	$449,006,000	-2.9%	15,451	-1.5%	0.12%	+2.7%
CSCO	Buy	Cisco	$439,594,000	+18.5%	17,465	+17.0%	0.11%	+25.3%
XRM	Buy	Xerium Technologies	$438,819,000	+29.9%	30,035	+24.1%	0.11%	+36.1%
AF	Buy	Astoria Fin	$430,553,000	-6.7%	34,750	+1.3%	0.11%	-1.8%
TSBK	Sell	Timberland Banc	$418,702,000	-0.2%	39,725	-0.2%	0.11%	+4.9%
MSFG	Buy	MainSource Financial	$370,541,000	+0.0%	21,481	+0.0%	0.10%	+5.5%
MDY	New	SPDR S&P MidCap	$362,511,000	–	1,454	–	0.09%	–
BAC	Buy	Bank of America	$336,379,000	+11.6%	19,729	+0.6%	0.09%	+17.6%
CSFL	Buy	CenterState	$332,753,000	-3.0%	32,150	+5.0%	0.09%	+2.4%
HFBC	Sell	HopFed Bancorp	$297,753,000	-3.4%	25,892	-2.4%	0.08%	+2.7%
TIP	Sell	iSharesTIPS Bond	$195,927,000	-4.2%	1,748	-1.4%	0.05%	+2.0%
BHLB	Buy	Berkshire Hills Banc	$137,628,000	+3.6%	5,859	+2.4%	0.04%	+12.5%
KMIWS	Buy	Kinder Morgan	$121,303,000	+1212.2%	33,325	+902.3%	0.03%	+1450.0%
RGP	New	Regency Energy LP	$114,920,000	–	3,523	–	0.03%	–
RAS	Buy	RAIT Financial	$109,964,000	-7.7%	14,800	+2.8%	0.03%	-3.4%
F	New	Ford	$82,257,000	–	5,562	–	0.02%	–
TNK	New	Teekay Tankers	$37,300,000	–	10,000	–	0.01%	–
	New	Capital ProductLP	$34,930,000	–	3,500	–	0.01%	–
LUV	New	Southwest Air	$25,395,000	–	752	–	0.01%	–
AESPRC	Sell	A E Sconv pref	$21,054,000	-27.5%	410	-26.8%	0.01%	-28.6%
PESXQ	New	Pioneer Energy Serv	$14,721,000	–	1,050	–	0.00%	–
CWSA	New	Citigroup	$9,025,000	–	9,500	–	0.00%	–
SDOCQ	New	SandRidge Energy	$9,610,000	–	2,240	–	0.00%	–
TOL	New	Toll Brothers	$3,116,000	–	100	–	0.00%	–
HNR	New	Harvest Natural Res	$2,569,000	–	700	–	0.00%	–
PSTB	Exit	Park Sterling	$0	–	-164	–	0.00%	–
AA	Exit	Alcoa	$0	–	-229	–	-0.00%	–
WEBC	Exit	Webco Ind	$0	–	-100	–	-0.00%	–
	Exit	Trinity Indconv bond	$0	–	-5,000	–	-0.00%	–
PSEC	Exit	Prospect Capital	$0	–	-1,560	–	-0.00%	–
IP	Exit	International Paper	$0	–	-365	–	-0.01%	–
CTB	Exit	Cooper Tire	$0	–	-925	–	-0.01%	–
HPQ	Exit	Hewlett-Packard	$0	–	-1,855	–	-0.02%	–
MPLX	Exit	MPLX LP	$0	–	-2,320	–	-0.04%	–
	Exit	USECconv bond	$0	–	-3,789,000	–	-0.24%	–
OVTI	Exit	OmniVision Tech	$0	–	-47,240	–	-0.25%	–
EEP	Exit	Enbridge Partners LP	$0	–	-37,700	–	-0.34%	–
UBMI	Exit	United Bancorp	$0	–	-126,118	–	-0.38%	–
	Exit	Alliant Techsystemsconv bond	$0	–	-1,585,000	–	-0.69%	–

Q2 2014

			Value		Shares		↓ Weighting
NGL	New	NGL Energy LP	$34,664,697,000	–	799,832	–	8.48%	–
WMB	New	Williams Co	$22,387,621,000	–	384,601	–	5.48%	–
MMP	New	Magellan Midstream	$14,700,865,000	–	174,927	–	3.60%	–
OKS	New	ONEOK LP	$13,480,930,000	–	230,050	–	3.30%	–
RRMS	New	Rose Rock LP	$12,401,458,000	–	226,967	–	3.03%	–
MWE	New	MarkWest Energy LP	$10,918,026,000	–	152,529	–	2.67%	–
AHGP	New	Alliance Holdings	$10,760,323,000	–	166,080	–	2.63%	–
OKE	New	ONEOK Inc	$10,726,632,000	–	157,559	–	2.62%	–
ENLK	New	EnLink Partners LP	$9,140,347,000	–	290,816	–	2.24%	–
QEP	New	QEP Resources	$9,114,383,000	–	264,185	–	2.23%	–
TLP	New	Transmontaigne LP	$8,440,863,000	–	192,934	–	2.06%	–
APL	New	Atlas Pipeline LP	$8,360,404,000	–	243,035	–	2.04%	–
DCP	New	DCP Midstream	$8,202,699,000	–	143,907	–	2.01%	–
GEL	New	Genesis LP	$6,561,724,000	–	117,090	–	1.60%	–
ET	New	Energy Transfer Equity	$6,421,749,000	–	99,034	–	1.57%	–
TGP	New	Teekay LNG	$5,868,270,000	–	127,184	–	1.44%	–
NMM	New	Navios Partners	$5,749,108,000	–	295,736	–	1.41%	–
EROC	New	Eagle Rock Energy LP	$5,697,723,000	–	1,144,121	–	1.39%	–
QEPM	New	QEP Midstream LP	$5,222,229,000	–	202,805	–	1.28%	–
	New	RAIT Financialconv bond	$5,205,976,000	–	3,862,000	–	1.27%	–
EMESQ	New	Emerge Energy LP	$4,896,424,000	–	46,280	–	1.20%	–
KMI	New	Kinder Morgan Inc	$4,794,934,000	–	132,238	–	1.17%	–
2108SC	New	El Paso Pipeline	$4,766,419,000	–	131,560	–	1.17%	–
SDRPQ	New	Sandridge Energyconv pref	$4,680,573,000	–	41,421	–	1.14%	–
DIA	New	SPDR DJIA	$4,488,803,000	–	26,737	–	1.10%	–
MMLP	New	Martin Midstream LP	$4,271,066,000	–	103,717	–	1.04%	–
HEP	New	Holly Energy LP	$4,056,507,000	–	117,956	–	0.99%	–
EPD	New	Enterprise LP	$3,806,132,000	–	48,616	–	0.93%	–
	New	Genco Shippingconv bond	$3,670,000,000	–	3,670,000	–	0.90%	–
PTQEP	New	PetroQuestconv pref	$3,431,876,000	–	75,178	–	0.84%	–
BGEPF	New	Bunge Ltdconv pref	$3,211,327,000	–	30,893	–	0.78%	–
	New	Titan Machineryconv bond	$2,954,626,000	–	3,362,000	–	0.72%	–
	New	General Cableconv bond	$2,914,631,000	–	2,925,000	–	0.71%	–
AYR	New	Aircastle	$2,854,928,000	–	160,660	–	0.70%	–
	New	Alliant Techsystemsconv bond	$2,828,274,000	–	1,585,000	–	0.69%	–
	New	KB HOMEconv bond	$2,755,541,000	–	2,745,000	–	0.67%	–
HA	New	Hawaiian Holdings	$2,727,879,000	–	198,970	–	0.67%	–
V	New	Visa	$2,719,213,000	–	12,905	–	0.66%	–
EXLP	New	Exterran LP	$2,716,520,000	–	96,058	–	0.66%	–
ENLC	New	EnLink LLC	$2,679,825,000	–	64,326	–	0.66%	–
OCRPRB	New	Omnicareconv pref	$2,541,728,000	–	31,141	–	0.62%	–
	New	Broadsoftconv bond	$2,539,650,000	–	2,500,000	–	0.62%	–
IBM	New	IBM	$2,477,961,000	–	13,670	–	0.61%	–
	New	Dendreonconv bond	$2,408,000,000	–	3,440,000	–	0.59%	–
	New	Auxilium Pharmconv bond	$2,371,249,000	–	2,185,000	–	0.58%	–
CVX	New	Chevron	$2,348,333,000	–	17,988	–	0.57%	–
	New	Hawaiian Holdingsconv bond	$2,251,125,000	–	1,250,000	–	0.55%	–
XOM	New	Exxon Mobil	$2,169,755,000	–	21,551	–	0.53%	–
GS	New	Goldman Sachs	$2,168,348,000	–	12,950	–	0.53%	–
	New	Stillwater Miningconv bond	$2,129,997,000	–	2,126,000	–	0.52%	–
QCRH	New	QCR Holdings	$2,122,377,000	–	123,036	–	0.52%	–
	New	Jefferies Groupconv bond	$1,998,547,000	–	1,872,000	–	0.49%	–
MMM	New	3M Co.	$1,966,546,000	–	13,729	–	0.48%	–
PAA	New	Plains LP	$1,920,759,000	–	31,986	–	0.47%	–
MBWM	New	Mercantile Bank	$1,883,842,000	–	82,336	–	0.46%	–
JNJ	New	Johnson & Johnson	$1,809,926,000	–	17,300	–	0.44%	–
BA	New	Boeing	$1,810,101,000	–	14,227	–	0.44%	–
BANC	New	Banc of Cal	$1,771,119,000	–	162,488	–	0.43%	–
MCD	New	McDonald's	$1,623,828,000	–	16,119	–	0.40%	–
UTX	New	United Technologies	$1,578,432,000	–	13,672	–	0.39%	–
UBMI	New	United Bancorp	$1,572,691,000	–	126,118	–	0.38%	–
OLN	New	Olin	$1,500,429,000	–	55,737	–	0.37%	–
KALU	New	Kaiser Aluminum	$1,495,001,000	–	20,516	–	0.37%	–
	New	Coeur D'Aleneconv bond	$1,481,305,000	–	1,466,000	–	0.36%	–
CAT	New	Caterpillar	$1,461,285,000	–	13,447	–	0.36%	–
CJES	New	C & J Energy	$1,403,390,000	–	41,545	–	0.34%	–
EEP	New	Enbridge Partners LP	$1,392,261,000	–	37,700	–	0.34%	–
FMCKI	New	Freddie Macpref stk	$1,369,890,000	–	147,300	–	0.34%	–
TRV	New	Travelers	$1,282,080,000	–	13,629	–	0.31%	–
AXP	New	American Express	$1,265,850,000	–	13,343	–	0.31%	–
PG	New	Procter & Gamble	$1,259,641,000	–	16,028	–	0.31%	–
NGLS	New	Targa Res	$1,258,600,000	–	17,500	–	0.31%	–
4945SC	New	Kinder Morgan LP	$1,242,029,000	–	15,108	–	0.30%	–
L109PS	New	Access Midstream	$1,228,739,000	–	19,335	–	0.30%	–
SBFG	New	SB Financial	$1,228,549,000	–	146,780	–	0.30%	–
WPZ	New	Williams LP	$1,224,240,000	–	22,550	–	0.30%	–
AAL	New	American Airlines	$1,214,479,000	–	28,270	–	0.30%	–
HD	New	Home Depot	$1,201,608,000	–	14,842	–	0.29%	–
DIS	New	Walt Disney	$1,194,273,000	–	13,929	–	0.29%	–
OMG	New	OM Group	$1,195,450,000	–	36,862	–	0.29%	–
WMT	New	Wal-Mart	$1,183,403,000	–	15,764	–	0.29%	–
	New	Cenveo Corpconv bond	$1,171,550,000	–	1,000,000	–	0.29%	–
EXIXQ	New	Energy XXIconv pref	$1,141,949,000	–	4,162	–	0.28%	–
UIS	New	Unisys	$1,133,711,000	–	45,825	–	0.28%	–
UNH	New	UnitedHealth	$1,091,363,000	–	13,350	–	0.27%	–
JPM	New	JPMorgan	$1,079,799,000	–	18,740	–	0.26%	–
SUP	New	Superior Ind	$1,074,172,000	–	52,094	–	0.26%	–
MRK	New	Merck	$1,074,622,000	–	18,576	–	0.26%	–
OVTI	New	OmniVision Tech	$1,038,335,000	–	47,240	–	0.25%	–
RCII	New	Rent-A-Center	$1,000,215,000	–	34,875	–	0.24%	–
SFST	New	Southern First	$1,003,645,000	–	74,565	–	0.24%	–
ARCB	New	Arcbest Corp	$996,648,000	–	22,906	–	0.24%	–
MDC	New	MDC Holdings	$999,419,000	–	32,995	–	0.24%	–
NKE	New	Nike	$996,905,000	–	12,855	–	0.24%	–
DAKT	New	Daktronics	$987,787,000	–	82,868	–	0.24%	–
DOOR	New	Masonite Int	$976,899,000	–	17,364	–	0.24%	–
	New	USECconv bond	$969,984,000	–	3,789,000	–	0.24%	–
MDR	New	McDermott Int	$963,155,000	–	119,055	–	0.24%	–
ETP	New	Energy Transfer LP	$965,258,000	–	16,651	–	0.24%	–
VZ	New	Verizon Comm	$943,419,000	–	19,281	–	0.23%	–
SVU	New	SUPERVALU	$933,578,000	–	113,574	–	0.23%	–
DD	New	Du Pont	$917,861,000	–	14,026	–	0.22%	–
EVBS	New	Eastern Virginia	$902,880,000	–	141,075	–	0.22%	–
IRDM	New	Iridium Comm	$890,787,000	–	105,294	–	0.22%	–
SONC	New	Sonic	$857,035,000	–	38,815	–	0.21%	–
PFBI	New	Premier Fin	$855,778,000	–	53,220	–	0.21%	–
GE	New	General Electric	$851,765,000	–	32,411	–	0.21%	–
SPAR	New	Spartan Motors	$847,527,000	–	186,680	–	0.21%	–
RAIL	New	FreightCar	$793,342,000	–	31,683	–	0.19%	–
T	New	A T & T	$780,501,000	–	22,073	–	0.19%	–
MSFT	New	Microsoft	$757,763,000	–	18,172	–	0.18%	–
CVLY	New	Codorus Bancorp	$727,886,000	–	34,448	–	0.18%	–
FBMS	New	First Bancshares	$724,214,000	–	51,001	–	0.18%	–
SMMF	New	Summit Financial	$716,412,000	–	67,332	–	0.18%	–
IBCP	New	Independent Bank	$705,984,000	–	54,855	–	0.17%	–
TOO	New	Teekay Offshore	$689,257,000	–	19,093	–	0.17%	–
ASRV	New	AmeriServ	$692,576,000	–	199,016	–	0.17%	–
PFE	New	Pfizer	$673,202,000	–	22,682	–	0.16%	–
KO	New	Coca-Cola	$676,108,000	–	15,961	–	0.16%	–
MFSF	New	MutualFirst	$638,417,000	–	33,460	–	0.16%	–
	New	RAIT Financialconv bond	$609,213,000	–	625,000	–	0.15%	–
BYLK	New	Baylake Corp.	$608,081,000	–	48,530	–	0.15%	–
BNCN	New	BNC Bancorp	$609,723,000	–	35,719	–	0.15%	–
NBBC	New	NewBridge	$604,613,000	–	75,014	–	0.15%	–
PEBK	New	Peoples Banc	$598,720,000	–	37,420	–	0.15%	–
IBCA	New	Intervest Bancshares	$569,316,000	–	73,555	–	0.14%	–
HFFC	New	HF Financial	$569,434,000	–	40,996	–	0.14%	–
KMR	New	Kinder Morgan LLC	$552,266,000	–	6,997	–	0.14%	–
RSTI	New	Rofin-Sinar Tech	$548,713,000	–	22,825	–	0.13%	–
INTC	New	Intel	$539,112,000	–	17,447	–	0.13%	–
HMNF	New	HMN Financial	$530,420,000	–	48,220	–	0.13%	–
PFBX	New	Peoples Fin	$514,280,000	–	38,494	–	0.13%	–
FNFG	New	First Niagara	$492,892,000	–	56,395	–	0.12%	–
OXF	New	Oxford LP	$482,894,000	–	574,874	–	0.12%	–
YDKN	New	Yadkin Financial	$471,697,000	–	25,037	–	0.12%	–
SBFC	New	Southeastern Bank	$464,911,000	–	20,126	–	0.11%	–
AF	New	Astoria Financial	$461,335,000	–	34,300	–	0.11%	–
ZION	New	Zions	$462,414,000	–	15,691	–	0.11%	–
TSBK	New	Timberland Bancorp	$419,387,000	–	39,790	–	0.10%	–
FRME	New	First Merchants	$417,409,000	–	19,745	–	0.10%	–
UBOH	New	United Bancshares	$411,555,000	–	30,736	–	0.10%	–
IYF	New	DJ US Financial	$396,910,000	–	4,774	–	0.10%	–
FCCO	New	First Community	$390,802,000	–	36,695	–	0.10%	–
SLYV	New	SPDR S&P 600	$379,900,000	–	3,446	–	0.09%	–
CSCO	New	Cisco	$371,011,000	–	14,930	–	0.09%	–
STI	New	SunTrust Banks	$372,758,000	–	9,305	–	0.09%	–
MSFG	New	MainSource Fin	$370,530,000	–	21,480	–	0.09%	–
UCBI	New	United Community Banks	$347,044,000	–	21,200	–	0.08%	–
CSFL	New	CenterState	$342,944,000	–	30,620	–	0.08%	–
XRM	New	Xerium Tech	$337,801,000	–	24,198	–	0.08%	–
EEM	New	MSCI Emerging Mkts	$329,196,000	–	7,615	–	0.08%	–
GULTU	New	Gulf Coast Ultra Deep	$317,905,000	–	108,500	–	0.08%	–
HFBC	New	HopFed Bancorp	$308,181,000	–	26,522	–	0.08%	–
BAC	New	Bank of America	$301,313,000	–	19,604	–	0.07%	–
PPBI	New	Pacific Premier	$295,045,000	–	20,940	–	0.07%	–
FBNC	New	First Bancorp	$242,220,000	–	13,200	–	0.06%	–
EXXIQ	New	Energy XXI	$241,026,000	–	10,200	–	0.06%	–
WPX	New	WPX Energy	$237,012,000	–	9,913	–	0.06%	–
MOFG	New	MidWest One	$228,721,000	–	9,534	–	0.06%	–
ARLP	New	Alliance Resource LP	$221,588,000	–	4,750	–	0.05%	–
FCF	New	First Commonwealth	$217,251,000	–	23,563	–	0.05%	–
CVO	New	Cenveo	$212,156,000	–	57,185	–	0.05%	–
TIP	New	iShares TIPS	$204,563,000	–	1,773	–	0.05%	–
MPLX	New	MPLX LP	$149,640,000	–	2,320	–	0.04%	–
BHLB	New	Berkshire Hills	$132,795,000	–	5,719	–	0.03%	–
RAS	New	RAIT Financial	$119,088,000	–	14,400	–	0.03%	–
FITB	New	Fifth Third	$113,689,000	–	5,325	–	0.03%	–
FNB	New	F.N.B. Corp	$108,252,000	–	8,444	–	0.03%	–
FCCY	New	1st Constitution	$93,332,000	–	9,204	–	0.02%	–
HPQ	New	Hewlett-Packard	$62,476,000	–	1,855	–	0.02%	–
DCBF	New	DCB Financial	$58,703,000	–	7,827	–	0.01%	–
BBT	New	BB&T Corp	$35,487,000	–	900	–	0.01%	–
BACPRL	New	Bank of Americaconv pref	$34,012,000	–	29	–	0.01%	–
AESPRC	New	A E Sconv pref	$29,030,000	–	560	–	0.01%	–
CTB	New	Cooper Tire	$27,737,000	–	925	–	0.01%	–
SUSQ	New	Susquehanna Banc	$22,704,000	–	2,150	–	0.01%	–
IP	New	International Paper	$18,422,000	–	365	–	0.01%	–
UMPQ	New	Umpqua Holdings	$19,712,000	–	1,100	–	0.01%	–
UAN	New	CVR Partners	$18,690,000	–	1,000	–	0.01%	–
PSEC	New	Prospect Capital	$16,575,000	–	1,560	–	0.00%	–
OKSB	New	Southwest Banc	$13,648,000	–	800	–	0.00%	–
COFS	New	Choiceone Financial	$10,627,000	–	576	–	0.00%	–
AGM	New	Federal Ag Mortgage	$12,432,000	–	400	–	0.00%	–
DORLP	New	Doral Financial Corp.pref stk	$11,250,000	–	1,500	–	0.00%	–
CBF	New	Capital Bank	$11,168,000	–	473	–	0.00%	–
	New	Trinity Indconv bond	$9,283,000	–	5,000	–	0.00%	–
WEBC	New	Webco Ind	$10,100,000	–	100	–	0.00%	–
SPWR	New	SunPower	$9,671,000	–	236	–	0.00%	–
KMIWS	New	Kinder Morgan	$9,244,000	–	3,325	–	0.00%	–
NM	New	Navios Holdings	$10,120,000	–	1,000	–	0.00%	–
BANR	New	Banner Corp.	$7,937,000	–	200	–	0.00%	–
DRL	New	Doral Financial	$8,640,000	–	2,000	–	0.00%	–
AA	New	Alcoa	$3,410,000	–	229	–	0.00%	–
TISDZ	New	Treasure Island Trust	$3,690,000	–	15,000	–	0.00%	–
AOI	New	Alliance One Int	$5,000,000	–	2,000	–	0.00%	–
DHI	New	DR Horton	$3,687,000	–	150	–	0.00%	–
MTH	New	Meritage Homes	$4,221,000	–	100	–	0.00%	–
BWP	New	Boardwalk LP	$3,700,000	–	200	–	0.00%	–
DORLN	New	Doral Financialpref stk	$3,460,000	–	1,000	–	0.00%	–
JPMWS	New	JP Morgan	$3,866,000	–	200	–	0.00%	–
PSTB	New	Park Sterling	$1,081,000	–	164	–	0.00%	–

Q4 2013

			Value		Shares		↓ Weighting
	Exit	Primus Tele	$0	–	-9,417	–	0.00%	–
XRMWQ	Exit	Xerium Tech	$0	–	-5,762	–	0.00%	–
AOI	Exit	Alliance One Int	$0	–	-1,000	–	-0.00%	–
AA	Exit	Alcoa	$0	–	-559	–	-0.00%	–
FBMS	Exit	Fst Bancsh	$0	–	-200	–	-0.00%	–
BANR	Exit	Banner Corp	$0	–	-200	–	-0.00%	–
	Exit	Primus Tele	$0	–	-9,417	–	-0.00%	–
DORLN	Exit	Doral Finpref stk	$0	–	-1,000	–	-0.00%	–
CBF	Exit	Capital Bank	$0	–	-473	–	-0.00%	–
COFS	Exit	Choiceone Fin	$0	–	-576	–	-0.00%	–
OKSB	Exit	Southwest Banc	$0	–	-800	–	-0.00%	–
AGM	Exit	Fed Ag Mtge	$0	–	-400	–	-0.00%	–
SGU	Exit	Star Gas LP	$0	–	-3,200	–	-0.01%	–
UMPQ	Exit	Umpqua	$0	–	-1,100	–	-0.01%	–
DRL	Exit	Doral Fin	$0	–	-1,000	–	-0.01%	–
UAN	Exit	CVR Partners	$0	–	-1,000	–	-0.01%	–
SWS	Exit	SWS Group	$0	–	-3,900	–	-0.01%	–
DORLP	Exit	Doral Finpref stk	$0	–	-1,500	–	-0.01%	–
TSBK	Exit	Timberland Banc	$0	–	-2,796	–	-0.01%	–
SUSQ	Exit	Susquehanna	$0	–	-2,198	–	-0.01%	–
BBT	Exit	BB&T Corp	$0	–	-900	–	-0.01%	–
BACPRL	Exit	Bk of Amerconv pref	$0	–	-29	–	-0.01%	–
AESPRC	Exit	A E Sconv pref	$0	–	-660	–	-0.01%	–
DCBF	Exit	DCB Financial	$0	–	-7,827	–	-0.01%	–
HPQ	Exit	HP	$0	–	-2,156	–	-0.01%	–
SCBT	Exit	Fst Financial Hldg	$0	–	-11,755	–	-0.02%	–
EXXIQ	Exit	Energy XXI	$0	–	-2,250	–	-0.02%	–
RAS	Exit	RAIT Fin	$0	–	-10,050	–	-0.02%	–
PVTB	Exit	PrivateBanc	$0	–	-3,743	–	-0.02%	–
FCCY	Exit	1st Const Banc	$0	–	-9,174	–	-0.03%	–
FITB	Exit	Fifth Third	$0	–	-5,325	–	-0.03%	–
BCSB	Exit	BCSB Banc	$0	–	-4,060	–	-0.03%	–
WPX	Exit	WPX Energy	$0	–	-5,481	–	-0.03%	–
	Exit	Sunpowerconv bond	$0	–	-100,000	–	-0.04%	–
BHLB	Exit	Berkshire Hills Banc	$0	–	-4,494	–	-0.04%	–
FBNC	Exit	First Banc	$0	–	-10,740	–	-0.05%	–
AAMRQ	Exit	AMR Corp	$0	–	-38,000	–	-0.05%	–
FCF	Exit	Fst Commonwealth	$0	–	-20,618	–	-0.05%	–
PSTB	Exit	Park Sterling	$0	–	-25,410	–	-0.05%	–
CVO	Exit	Cenveo	$0	–	-56,835	–	-0.05%	–
ARLP	Exit	Alliance Resource LP	$0	–	-2,375	–	-0.06%	–
HFFC	Exit	HF Financial	$0	–	-14,447	–	-0.06%	–
MOFG	Exit	MidWest One	$0	–	-8,014	–	-0.06%	–
WSBC	Exit	WesBanco	$0	–	-7,176	–	-0.07%	–
HFBC	Exit	HopFed Banc	$0	–	-20,062	–	-0.07%	–
GULTU	Exit	Gulf Coast Rylty	$0	–	-108,000	–	-0.08%	–
CSFL	Exit	CenterState Bks	$0	–	-26,100	–	-0.08%	–
STI	Exit	SunTrust	$0	–	-7,855	–	-0.08%	–
PPBI	Exit	Pacific Premier	$0	–	-20,055	–	-0.08%	–
JFBI	Exit	Jefferson Bancs	$0	–	-47,777	–	-0.09%	–
XRM	Exit	Xerium Tech	$0	–	-24,319	–	-0.09%	–
MSFG	Exit	MainSource Fin	$0	–	-19,060	–	-0.09%	–
CVLY	Exit	Codorus Banc	$0	–	-16,685	–	-0.10%	–
AF	Exit	Astoria Fin	$0	–	-24,010	–	-0.10%	–
UCBI	Exit	Utd Community Bks	$0	–	-20,105	–	-0.10%	–
EEM	Exit	MSCI Emerging Mkts	$0	–	-7,615	–	-0.10%	–
UBOH	Exit	Utd Bancsh	$0	–	-25,553	–	-0.10%	–
CSCO	Exit	Cisco	$0	–	-14,422	–	-0.11%	–
FRME	Exit	Fst Merchants	$0	–	-19,565	–	-0.11%	–
ZION	Exit	Zions	$0	–	-12,561	–	-0.11%	–
IYF	Exit	DJ US Financial	$0	–	-4,774	–	-0.11%	–
ET	Exit	Energy Trans Eq	$0	–	-5,391	–	-0.11%	–
RNST	Exit	Renasant	$0	–	-13,090	–	-0.11%	–
SFST	Exit	Sothn Fst Bancs	$0	–	-27,520	–	-0.12%	–
BYLK	Exit	Baylake Corp	$0	–	-35,030	–	-0.12%	–
HMNF	Exit	HMN Financial	$0	–	-47,810	–	-0.12%	–
INTC	Exit	Intel	$0	–	-17,461	–	-0.13%	–
FNFG	Exit	Fst Niagara	$0	–	-39,255	–	-0.13%	–
ASRV	Exit	AmeriServ	$0	–	-132,331	–	-0.13%	–
NBBC	Exit	NewBridge	$0	–	-59,129	–	-0.14%	–
YDKN	Exit	Yadkin Fin	$0	–	-25,037	–	-0.14%	–
MFSF	Exit	MutualFirst	$0	–	-28,615	–	-0.14%	–
PFBI	Exit	Premier Fin	$0	–	-39,038	–	-0.14%	–
WES	Exit	Western Gas LP	$0	–	-7,600	–	-0.14%	–
BNCN	Exit	BNC Banc	$0	–	-36,689	–	-0.16%	–
KMR	Exit	Kinder Morgan LLC	$0	–	-6,718	–	-0.16%	–
UCFC	Exit	Untd Community Fin	$0	–	-130,738	–	-0.16%	–
IBCP	Exit	Indpendt Bank	$0	–	-52,590	–	-0.17%	–
IBCA	Exit	Intervest Banc	$0	–	-67,775	–	-0.17%	–
RSTI	Exit	Rofin-Sinar	$0	–	-22,725	–	-0.17%	–
SBFG	Exit	SB Financial Gr	$0	–	-78,520	–	-0.19%	–
ETP	Exit	Energy Trans Part	$0	–	-11,816	–	-0.20%	–
MSFT	Exit	Microsoft	$0	–	-18,921	–	-0.20%	–
TOO	Exit	Teekay Offshore	$0	–	-19,225	–	-0.20%	–
PFE	Exit	Pfizer	$0	–	-22,557	–	-0.20%	–
KO	Exit	Coca-Cola	$0	–	-17,503	–	-0.21%	–
RAIL	Exit	FreightCar	$0	–	-32,213	–	-0.21%	–
FMCKI	Exit	Freddie Macpref stk	$0	–	-147,300	–	-0.22%	–
T	Exit	A T & T	$0	–	-20,372	–	-0.22%	–
OVTI	Exit	OmniVision	$0	–	-44,995	–	-0.22%	–
UBMI	Exit	Utd Bancorp	$0	–	-104,868	–	-0.22%	–
EVBS	Exit	Eastern Virginia Bks	$0	–	-117,980	–	-0.23%	–
SONC	Exit	Sonic	$0	–	-40,915	–	-0.23%	–
IRDM	Exit	Iridium	$0	–	-106,073	–	-0.23%	–
CJES	Exit	C & J Energy	$0	–	-36,900	–	-0.24%	–
DOOR	Exit	Masonite Int	$0	–	-15,524	–	-0.24%	–
GE	Exit	GE	$0	–	-33,123	–	-0.25%	–
UAL	Exit	Untd Continental	$0	–	-26,086	–	-0.25%	–
VZ	Exit	Verizon	$0	–	-17,911	–	-0.26%	–
SUP	Exit	Superior Ind	$0	–	-47,174	–	-0.27%	–
MRK	Exit	Merck	$0	–	-17,841	–	-0.27%	–
DD	Exit	du Pont	$0	–	-14,572	–	-0.27%	–
NGLS	Exit	Targa Res	$0	–	-17,000	–	-0.28%	–
DIS	Exit	Disney	$0	–	-14,111	–	-0.29%	–
SPAR	Exit	Spartan Motors	$0	–	-150,405	–	-0.29%	–
MDC	Exit	MDC Holdings	$0	–	-30,955	–	-0.29%	–
	Exit	USECconv bond	$0	–	-3,814,000	–	-0.30%	–
NKE	Exit	Nike	$0	–	-12,878	–	-0.30%	–
SVU	Exit	SUPERVALU	$0	–	-114,879	–	-0.30%	–
DAKT	Exit	Daktronics	$0	–	-84,471	–	-0.30%	–
	Exit	Bristol-Meyersconv bond	$0	–	-803,000	–	-0.30%	–
UNH	Exit	UnitedHealth	$0	–	-13,732	–	-0.31%	–
UIS	Exit	Unisys	$0	–	-39,110	–	-0.31%	–
OMG	Exit	OM Group	$0	–	-29,682	–	-0.32%	–
	Exit	Cenveoconv bond	$0	–	-1,000,000	–	-0.32%	–
JPM	Exit	JPMorgan	$0	–	-19,648	–	-0.32%	–
AXP	Exit	Am Express Co	$0	–	-13,726	–	-0.33%	–
4945SC	Exit	Kinder Morgan LP	$0	–	-13,713	–	-0.35%	–
OXF	Exit	Oxford Res LP	$0	–	-571,175	–	-0.35%	–
CAT	Exit	Caterpillar	$0	–	-13,847	–	-0.37%	–
HD	Exit	Home Depot	$0	–	-15,254	–	-0.37%	–
WMT	Exit	Wal-Mart	$0	–	-15,909	–	-0.37%	–
TRV	Exit	Travelers	$0	–	-14,128	–	-0.38%	–
ABFS	Exit	Arkansas Best	$0	–	-46,776	–	-0.38%	–
BANC	Exit	Banc of CAL	$0	–	-87,243	–	-0.38%	–
OLN	Exit	Olin	$0	–	-54,186	–	-0.40%	–
PG	Exit	P&G	$0	–	-16,827	–	-0.40%	–
KALU	Exit	Kaiser Alum	$0	–	-18,134	–	-0.41%	–
QCRH	Exit	QCR Holdings	$0	–	-88,774	–	-0.45%	–
	Exit	Hawaiian Hldgconv bond	$0	–	-1,250,000	–	-0.46%	–
	Exit	Coeur D'Aleneconv bond	$0	–	-1,466,000	–	-0.47%	–
FBMI	Exit	Firstbank Corp	$0	–	-76,941	–	-0.48%	–
HA	Exit	Hawaiian Hldg	$0	–	-203,705	–	-0.48%	–
UTX	Exit	Untd Technologies	$0	–	-14,071	–	-0.48%	–
JNJ	Exit	JNJ	$0	–	-17,929	–	-0.49%	–
MCD	Exit	McDonalds	$0	–	-16,595	–	-0.51%	–
L109PS	Exit	Access Mid LP	$0	–	-33,385	–	-0.51%	–
PAA	Exit	Plains LP	$0	–	-30,786	–	-0.51%	–
	Exit	Genco Shipconv bond	$0	–	-3,685,000	–	-0.53%	–
	Exit	Janus Capconv bond	$0	–	-1,660,000	–	-0.53%	–
BAC	Exit	Bk of Amer	$0	–	-123,679	–	-0.54%	–
MMM	Exit	3M	$0	–	-14,287	–	-0.54%	–
BA	Exit	Boeing	$0	–	-14,610	–	-0.54%	–
XOM	Exit	Exxon	$0	–	-20,579	–	-0.56%	–
	Exit	Jefferiesconv bond	$0	–	-1,872,000	–	-0.63%	–
GS	Exit	Goldman Sachs	$0	–	-12,973	–	-0.65%	–
CVX	Exit	Chevron Corp	$0	–	-17,079	–	-0.66%	–
KMI	Exit	Kinder Morgan INC	$0	–	-58,994	–	-0.66%	–
	Exit	Stillwater Minconv bond	$0	–	-2,126,000	–	-0.67%	–
OCRPRB	Exit	Omnicareconv pref	$0	–	-31,341	–	-0.68%	–
	Exit	Dendreonconv bond	$0	–	-3,460,000	–	-0.69%	–
	Exit	Auxilium Pharmconv bond	$0	–	-2,195,000	–	-0.72%	–
XTXI	Exit	Crosstex Inc	$0	–	-109,927	–	-0.73%	–
EPD	Exit	Enterprise LP	$0	–	-39,040	–	-0.76%	–
	Exit	Alliant Techconv bond	$0	–	-1,850,000	–	-0.77%	–
	Exit	KB Homeconv bond	$0	–	-2,400,000	–	-0.77%	–
V	Exit	Visa	$0	–	-12,878	–	-0.78%	–
PTQEP	Exit	Petroquestconv pref	$0	–	-70,540	–	-0.78%	–
	Exit	General Cableconv bond	$0	–	-2,240,000	–	-0.80%	–
IBM	Exit	IBM	$0	–	-14,013	–	-0.82%	–
BGEPF	Exit	Bungeconv pref	$0	–	-24,770	–	-0.83%	–
AYR	Exit	Aircastle	$0	–	-150,420	–	-0.83%	–
EXLP	Exit	Exterran LP	$0	–	-98,593	–	-0.91%	–
HEP	Exit	Holly Partners	$0	–	-97,175	–	-1.02%	–
	Exit	Trinity Indconv bond	$0	–	-2,875,000	–	-1.11%	–
SDRPQ	Exit	Sandridgeconv pref	$0	–	-38,020	–	-1.22%	–
TLLP	Exit	Tesoro Logistics	$0	–	-70,130	–	-1.29%	–
WPZ	Exit	Williams LP	$0	–	-85,350	–	-1.43%	–
	Exit	RAIT Financonv bond	$0	–	-3,897,000	–	-1.46%	–
MMLP	Exit	Martin Mid LP	$0	–	-104,488	–	-1.56%	–
2108SC	Exit	El Paso Partners	$0	–	-121,645	–	-1.63%	–
XTEX	Exit	Crosstex LP	$0	–	-266,921	–	-1.68%	–
TLP	Exit	Transmontaigne	$0	–	-135,155	–	-1.74%	–
TGP	Exit	Teekay LNG	$0	–	-126,391	–	-1.77%	–
GEL	Exit	Genesis LP	$0	–	-120,599	–	-1.91%	–
PVR	Exit	PVR Partners	$0	–	-274,634	–	-2.01%	–
APL	Exit	Atlas Pipe LP	$0	–	-174,980	–	-2.15%	–
AHGP	Exit	Alliance Hold GP	$0	–	-114,709	–	-2.18%	–
OKE	Exit	ONEOK	$0	–	-152,275	–	-2.57%	–
EROC	Exit	Eagle Rock LP	$0	–	-1,173,725	–	-2.64%	–
RRMS	Exit	Rose Rock LP	$0	–	-264,509	–	-2.68%	–
MWE	Exit	MarkWest Energy	$0	–	-119,827	–	-2.74%	–
DCP	Exit	DCP Midstream	$0	–	-177,557	–	-2.80%	–
NMM	Exit	Navios LP	$0	–	-618,852	–	-2.87%	–
MMP	Exit	Magellan LP	$0	–	-172,247	–	-3.08%	–
OKS	Exit	ONEOK LP	$0	–	-266,251	–	-4.47%	–
WMB	Exit	Williams Cos	$0	–	-469,917	–	-5.42%	–
NGL	Exit	NGL Energy LP	$0	–	-556,349	–	-5.44%	–

Q3 2013

			Value		Shares		↓ Weighting
NGL	Buy	NGL Energy LP	$17,157,804,000	+8.3%	556,349	+6.0%	5.44%	+9.4%
WMB	Buy	Williams Cos	$17,086,182,000	+12.0%	469,917	+0.0%	5.42%	+13.1%
OKS	Buy	ONEOK LP	$14,113,965,000	+12.7%	266,251	+5.3%	4.47%	+13.9%
MMP	Sell	Magellan LP	$9,719,898,000	+3.5%	172,247	-0.1%	3.08%	+4.5%
NMM	Buy	Navios LP	$9,059,993,000	+1.4%	618,852	+0.1%	2.87%	+2.5%
DCP	Buy	DCP Midstream	$8,817,480,000	-1.4%	177,557	+7.4%	2.80%	-0.4%
MWE	Sell	MarkWest Energy	$8,655,092,000	+6.3%	119,827	-1.6%	2.74%	+7.4%
RRMS	Buy	Rose Rock LP	$8,451,062,000	+31.2%	264,509	+50.4%	2.68%	+32.6%
EROC	Buy	Eagle Rock LP	$8,333,447,000	-9.3%	1,173,725	+0.5%	2.64%	-8.4%
OKE	Buy	ONEOK	$8,119,303,000	+4366.9%	152,275	+3360.8%	2.57%	+4414.0%
AHGP	Sell	Alliance Hold GP	$6,868,774,000	-6.3%	114,709	-0.2%	2.18%	-5.3%
APL	Buy	Atlas Pipe LP	$6,789,224,000	+5.9%	174,980	+4.2%	2.15%	+7.0%
PVR	Buy	PVR Partners	$6,349,538,000	-14.9%	274,634	+0.5%	2.01%	-14.1%
GEL	Buy	Genesis LP	$6,038,391,000	-3.2%	120,599	+0.2%	1.91%	-2.2%
TGP	Sell	Teekay LNG	$5,575,107,000	-15.8%	126,391	-16.6%	1.77%	-14.9%
TLP	Buy	Transmontaigne	$5,504,863,000	-1.5%	135,155	+1.3%	1.74%	-0.5%
XTEX	Buy	Crosstex LP	$5,311,727,000	-2.8%	266,921	+0.7%	1.68%	-1.8%
2108SC	Buy	El Paso Partners	$5,135,851,000	-2.5%	121,645	+0.8%	1.63%	-1.5%
MMLP	Buy	Martin Mid LP	$4,904,666,000	+7.1%	104,488	+0.6%	1.56%	+8.3%
	Sell	RAIT Financonv bond	$4,601,967,000	-2.9%	3,897,000	-0.3%	1.46%	-1.9%
WPZ	Buy	Williams LP	$4,513,308,000	+32.2%	85,350	+29.0%	1.43%	+33.5%
TLLP	Sell	Tesoro Logistics	$4,067,540,000	-6.5%	70,130	-2.5%	1.29%	-5.5%
SDRPQ	Sell	Sandridgeconv pref	$3,840,020,000	-1.2%	38,020	-6.3%	1.22%	-0.2%
HEP	Buy	Holly Partners	$3,213,577,000	-12.4%	97,175	+0.8%	1.02%	-11.4%
EXLP	Buy	Exterran LP	$2,867,084,000	-3.0%	98,593	+0.8%	0.91%	-1.9%
AYR	Sell	Aircastle	$2,618,812,000	+7.9%	150,420	-0.9%	0.83%	+8.9%
BGEPF	Sell	Bungeconv pref	$2,608,033,000	+4.5%	24,770	-0.1%	0.83%	+5.6%
IBM	Sell	IBM	$2,594,927,000	-7.2%	14,013	-4.3%	0.82%	-6.3%
	Sell	General Cableconv bond	$2,527,168,000	+2.1%	2,240,000	-0.2%	0.80%	+3.2%
PTQEP	Sell	Petroquestconv pref	$2,468,900,000	+2.8%	70,540	-0.3%	0.78%	+3.8%
V	New	Visa	$2,460,985,000	–	12,878	–	0.78%	–
	New	KB Homeconv bond	$2,437,512,000	–	2,400,000	–	0.77%	–
	Sell	Alliant Techconv bond	$2,426,737,000	+6.7%	1,850,000	-6.3%	0.77%	+7.7%
EPD	Buy	Enterprise LP	$2,382,990,000	-1.3%	39,040	+0.5%	0.76%	-0.3%
XTXI	Sell	Crosstex Inc	$2,296,377,000	+2.9%	109,927	-2.7%	0.73%	+4.0%
OCRPRB	Sell	Omnicareconv pref	$2,139,650,000	+12.5%	31,341	-2.6%	0.68%	+13.6%
KMI	New	Kinder Morgan INC	$2,098,416,000	–	58,994	–	0.66%	–
CVX	Sell	Chevron Corp	$2,075,158,000	-1.0%	17,079	-3.6%	0.66%	0.0%
GS	New	Goldman Sachs	$2,052,458,000	–	12,973	–	0.65%	–
XOM	Sell	Exxon	$1,770,617,000	-7.6%	20,579	-3.0%	0.56%	-6.7%
BA	Sell	Boeing	$1,716,675,000	+9.8%	14,610	-4.2%	0.54%	+11.0%
BAC	Sell	Bk of Amer	$1,706,770,000	-2.6%	123,679	-9.2%	0.54%	-1.6%
MMM	Sell	3M	$1,705,973,000	+4.5%	14,287	-4.3%	0.54%	+5.7%
	Sell	Genco Shipconv bond	$1,663,777,000	+74.3%	3,685,000	-0.1%	0.53%	+75.7%
L109PS	Sell	Access Mid LP	$1,612,829,000	-8.3%	33,385	-9.5%	0.51%	-7.4%
MCD	Sell	McDonalds	$1,596,604,000	-5.6%	16,595	-2.9%	0.51%	-4.7%
JNJ	Sell	JNJ	$1,554,264,000	-3.0%	17,929	-4.0%	0.49%	-2.0%
UTX	Sell	Untd Technologies	$1,517,135,000	+10.2%	14,071	-5.0%	0.48%	+11.3%
HA	Sell	Hawaiian Hldg	$1,515,565,000	+17.5%	203,705	-3.5%	0.48%	+18.5%
FBMI	Buy	Firstbank Corp	$1,498,045,000	+199.1%	76,941	+106.0%	0.48%	+202.5%
QCRH	Buy	QCR Holdings	$1,410,616,000	+10.2%	88,774	+7.1%	0.45%	+11.2%
KALU	Sell	Kaiser Alum	$1,292,047,000	+11.0%	18,134	-3.5%	0.41%	+12.3%
PG	Sell	P&G	$1,271,952,000	-6.1%	16,827	-4.3%	0.40%	-5.2%
OLN	Sell	Olin	$1,250,079,000	-4.1%	54,186	-0.5%	0.40%	-3.2%
BANC	Buy	Banc of CAL	$1,206,570,000	+4.1%	87,243	+2.2%	0.38%	+4.9%
ABFS	Sell	Arkansas Best	$1,200,739,000	+11.3%	46,776	-0.5%	0.38%	+12.7%
TRV	Sell	Travelers	$1,197,630,000	+2.8%	14,128	-3.1%	0.38%	+4.1%
WMT	Sell	Wal-Mart	$1,176,629,000	-4.8%	15,909	-4.1%	0.37%	-3.9%
HD	Sell	Home Depot	$1,157,015,000	-7.0%	15,254	-5.0%	0.37%	-5.9%
CAT	Sell	Caterpillar	$1,154,839,000	-3.4%	13,847	-4.5%	0.37%	-2.4%
OXF	Buy	Oxford Res LP	$1,113,791,000	-26.6%	571,175	+0.5%	0.35%	-25.8%
AXP	Sell	Am Express Co	$1,036,587,000	-3.5%	13,726	-4.5%	0.33%	-2.4%
JPM	Sell	JPMorgan	$1,015,605,000	-6.6%	19,648	-4.6%	0.32%	-5.6%
	New	Cenveoconv bond	$1,010,600,000	–	1,000,000	–	0.32%	–
OMG	Sell	OM Group	$1,002,657,000	+8.8%	29,682	-0.4%	0.32%	+10.0%
UIS	Buy	Unisys	$985,180,000	+16.0%	39,110	+1.7%	0.31%	+17.3%
UNH	Sell	UnitedHealth	$983,348,000	+5.7%	13,732	-3.3%	0.31%	+6.8%
SVU	Sell	SUPERVALU	$945,454,000	+31.5%	114,879	-0.6%	0.30%	+32.7%
DAKT	Sell	Daktronics	$945,230,000	+8.8%	84,471	-0.3%	0.30%	+9.9%
NKE	New	Nike	$935,457,000	–	12,878	–	0.30%	–
MDC	New	MDC Holdings	$928,959,000	–	30,955	–	0.29%	–
SPAR	Sell	Spartan Motors	$912,958,000	-1.0%	150,405	-0.2%	0.29%	0.0%
DIS	Sell	Disney	$910,018,000	-2.3%	14,111	-4.3%	0.29%	-1.4%
DD	Sell	du Pont	$853,336,000	+6.4%	14,572	-4.6%	0.27%	+7.1%
MRK	Sell	Merck	$849,392,000	-1.8%	17,841	-4.2%	0.27%	-0.7%
SUP	Buy	Superior Ind	$841,106,000	+3.8%	47,174	+0.2%	0.27%	+5.1%
VZ	Sell	Verizon	$835,995,000	-10.5%	17,911	-3.5%	0.26%	-9.6%
UAL	Sell	Untd Continental	$801,085,000	-3.9%	26,086	-2.0%	0.25%	-2.7%
GE	Sell	GE	$791,298,000	+0.8%	33,123	-2.2%	0.25%	+2.0%
DOOR	New	Masonite Int	$759,589,000	–	15,524	–	0.24%	–
CJES	Buy	C & J Energy	$740,952,000	+3.8%	36,900	+0.1%	0.24%	+4.9%
IRDM	Sell	Iridium	$729,782,000	-13.4%	106,073	-2.4%	0.23%	-12.5%
SONC	Sell	Sonic	$726,241,000	-40.9%	40,915	-51.5%	0.23%	-40.3%
EVBS	Buy	Eastern Virginia Bks	$719,678,000	+46.3%	117,980	+19.9%	0.23%	+48.1%
UBMI	Buy	Utd Bancorp	$704,712,000	+219.6%	104,868	+169.7%	0.22%	+223.2%
T	Sell	A T & T	$688,981,000	-7.4%	20,372	-3.1%	0.22%	-6.4%
FMCKI	Buy	Freddie Macpref stk	$683,472,000	+18.3%	147,300	+0.7%	0.22%	+19.9%
RAIL	Sell	FreightCar	$666,164,000	+21.5%	32,213	-0.2%	0.21%	+22.7%
KO	Sell	Coca-Cola	$663,013,000	-9.6%	17,503	-4.3%	0.21%	-8.7%
PFE	Sell	Pfizer	$647,949,000	-1.7%	22,557	-4.2%	0.20%	-1.0%
TOO	Sell	Teekay Offshore	$641,346,000	-82.4%	19,225	-82.9%	0.20%	-82.3%
MSFT	Sell	Microsoft	$629,680,000	-6.6%	18,921	-3.0%	0.20%	-5.2%
ETP	Sell	Energy Trans Part	$615,259,000	-51.9%	11,816	-53.3%	0.20%	-51.4%
SBFG	Buy	SB Financial Gr	$610,100,000	+42.0%	78,520	+39.3%	0.19%	+43.0%
IBCA	Buy	Intervest Banc	$537,455,000	+22.3%	67,775	+3.0%	0.17%	+23.2%
IBCP	Buy	Indpendt Bank	$525,900,000	+70.6%	52,590	+7.3%	0.17%	+72.2%
UCFC	Buy	Untd Community Fin	$508,570,000	-15.7%	130,738	+0.8%	0.16%	-14.8%
KMR	Buy	Kinder Morgan LLC	$503,614,000	-8.9%	6,718	+1.6%	0.16%	-7.5%
PFBI	Buy	Premier Fin	$450,498,000	-1.6%	39,038	+2.7%	0.14%	-0.7%
MFSF	Buy	MutualFirst	$438,667,000	+11.6%	28,615	+2.7%	0.14%	+13.0%
YDKN	Sell	Yadkin Fin	$431,387,000	+18.0%	25,037	-3.8%	0.14%	+19.1%
NBBC	Buy	NewBridge	$431,050,000	+27.0%	59,129	+4.4%	0.14%	+29.2%
ASRV	Buy	AmeriServ	$416,842,000	+15.4%	132,331	+0.4%	0.13%	+16.8%
FNFG	Buy	Fst Niagara	$407,074,000	+3.3%	39,255	+0.3%	0.13%	+4.0%
INTC	Sell	Intel	$400,223,000	-11.1%	17,461	-6.0%	0.13%	-9.9%
HMNF	Buy	HMN Financial	$377,699,000	+24.2%	47,810	+11.8%	0.12%	+26.3%
BYLK	New	Baylake Corp	$371,318,000	–	35,030	–	0.12%	–
SFST	Buy	Sothn Fst Bancs	$363,264,000	+65.9%	27,520	+38.1%	0.12%	+66.7%
RNST	New	Renasant	$355,655,000	–	13,090	–	0.11%	–
ET	Sell	Energy Trans Eq	$354,644,000	-94.8%	5,391	-95.2%	0.11%	-94.7%
CSCO	Sell	Cisco	$337,921,000	-6.5%	14,422	-2.9%	0.11%	-5.3%
FRME	Buy	Fst Merchants	$339,061,000	+2.3%	19,565	+1.3%	0.11%	+2.9%
UBOH	Buy	Utd Bancsh	$325,800,000	+24.0%	25,553	+17.8%	0.10%	+25.6%
UCBI	Buy	Utd Community Bks	$301,373,000	+21.6%	20,105	+0.7%	0.10%	+23.1%
CVLY	Buy	Codorus Banc	$300,330,000	+18.2%	16,685	+14.2%	0.10%	+18.8%
AF	Buy	Astoria Fin	$298,684,000	+22.1%	24,010	+5.8%	0.10%	+23.4%
MSFG	Buy	MainSource Fin	$289,521,000	+14.5%	19,060	+1.3%	0.09%	+16.5%
XRM	Sell	Xerium Tech	$281,854,000	+13.4%	24,319	-0.4%	0.09%	+14.1%
JFBI	Buy	Jefferson Bancs	$277,106,000	+9.7%	47,777	+6.9%	0.09%	+11.4%
PPBI	Sell	Pacific Premier	$269,178,000	+5.2%	20,055	-4.2%	0.08%	+6.2%
STI	Buy	SunTrust	$254,659,000	+7.7%	7,855	+4.9%	0.08%	+9.5%
CSFL	Sell	CenterState Bks	$252,648,000	+11.0%	26,100	-0.5%	0.08%	+12.7%
GULTU	New	Gulf Coast Rylty	$235,440,000	–	108,000	–	0.08%	–
HFBC	Buy	HopFed Banc	$224,488,000	+4.3%	20,062	+0.7%	0.07%	+4.4%
WSBC	Sell	WesBanco	$213,342,000	+6.5%	7,176	-5.3%	0.07%	+7.9%
MOFG	Sell	MidWest One	$206,039,000	+2.2%	8,014	-4.4%	0.06%	+3.2%
HFFC	Buy	HF Financial	$185,499,000	+3.9%	14,447	+5.2%	0.06%	+5.4%
CVO	Buy	Cenveo	$167,663,000	+9329.9%	56,835	+6706.6%	0.05%	+5200.0%
PSTB	Buy	Park Sterling	$162,877,000	+11.8%	25,410	+3.1%	0.05%	+13.0%
FCF	Sell	Fst Commonwealth	$156,490,000	-0.4%	20,618	-3.3%	0.05%	+2.0%
AAMRQ	New	AMR Corp	$156,180,000	–	38,000	–	0.05%	–
FBNC	Buy	First Banc	$155,193,000	+3.4%	10,740	+0.9%	0.05%	+4.3%
BHLB	Sell	Berkshire Hills Banc	$112,844,000	-13.1%	4,494	-3.9%	0.04%	-12.2%
	Sell	Sunpowerconv bond	$113,601,000	-97.3%	100,000	-97.5%	0.04%	-97.3%
WPX	Sell	WPX Energy	$105,557,000	-96.8%	5,481	-96.8%	0.03%	-96.8%
BCSB	Sell	BCSB Banc	$99,064,000	-2.5%	4,060	-6.5%	0.03%	-3.1%
FITB	Sell	Fifth Third	$96,116,000	-6.0%	5,325	-6.0%	0.03%	-6.2%
PVTB	Sell	PrivateBanc	$80,100,000	-8.7%	3,743	-9.4%	0.02%	-10.7%
RAS	Buy	RAIT Fin	$71,154,000	+27.0%	10,050	+34.9%	0.02%	+27.8%
EXXIQ	New	Energy XXI	$67,972,000	–	2,250	–	0.02%	–
SCBT	New	Fst Financial Hldg	$64,840,000	–	11,755	–	0.02%	–
HPQ	Sell	HP	$45,254,000	-88.8%	2,156	-86.8%	0.01%	-89.0%
BBT	New	BB&T Corp	$30,375,000	–	900	–	0.01%	–
SUSQ	Sell	Susquehanna	$27,540,000	-98.2%	2,198	-98.2%	0.01%	-98.1%
TSBK	New	Timberland Banc	$25,164,000	–	2,796	–	0.01%	–
SWS	Sell	SWS Group	$21,762,000	-89.5%	3,900	-89.8%	0.01%	-89.2%
DRL	Sell	Doral Fin	$19,080,000	+14.9%	1,000	-95.0%	0.01%	+20.0%
SGU	Sell	Star Gas LP	$15,744,000	-55.3%	3,200	-55.6%	0.01%	-54.5%
AA	Sell	Alcoa	$4,539,000	-95.6%	559	-95.7%	0.00%	-96.9%
FBMS	New	Fst Bancsh	$2,764,000	–	200	–	0.00%	–
XRMWQ	Sell	Xerium Tech	$1,555,000	-55.5%	5,762	-1.1%	0.00%	-100.0%
6994RTS	Exit	East Virg Bankwrnt	$0	–	-41,100	–	-0.00%	–
CATY	Exit	Cathay Gencmn stk	$0	–	-320	–	-0.00%	–
KMIWS	Exit	Kinder Morganwrnt	$0	–	-2,115	–	-0.00%	–
ZAZA	Exit	ZaZa Energycmn stk	$0	–	-9,300	–	-0.00%	–
WEBC	Exit	Webco Indcmn stk	$0	–	-100	–	-0.00%	–
KMI	Exit	Kinder Mrgn Inccmn stk	$0	–	-455	–	-0.01%	–
TNK	Exit	Teekay Tankerscmn stk	$0	–	-8,000	–	-0.01%	–
	Exit	Capital Prod LPcmn stk	$0	–	-3,500	–	-0.01%	–
	Exit	Primus Telewrnt	$0	–	-9,417	–	-0.01%	–
MO	Exit	Altriacmn stk	$0	–	-1,518	–	-0.02%	–
APFC	Exit	Amer Paccmn stk	$0	–	-2,000	–	-0.02%	–
MPLX	Exit	MPLX LPcmn stk	$0	–	-2,465	–	-0.03%	–
TIP	Exit	iShares TIPScmn stk	$0	–	-1,827	–	-0.06%	–
FMFC	Exit	Fst M & Fcmn stk	$0	–	-20,119	–	-0.10%	–
SLYV	Exit	SPDR 600cmn stk	$0	–	-4,002	–	-0.11%	–
HFC	Exit	Holly Corpcmn stk	$0	–	-10,000	–	-0.13%	–
PTGI	Exit	Primus Telecmn stk	$0	–	-46,122	–	-0.17%	–
EEP	Exit	Enbridge LPcmn stk	$0	–	-20,200	–	-0.19%	–
	Exit	McMoran Expconv bond	$0	–	-1,000,000	–	-0.37%	–
	Exit	Archer Danielsconv bond	$0	–	-1,298,000	–	-0.41%	–
CTB	Exit	Cooper Tirecmn stk	$0	–	-48,921	–	-0.51%	–
	Exit	Knight Capconv bond	$0	–	-2,530,000	–	-0.79%	–
DIA	Exit	SPDR DJIAcmn stk	$0	–	-29,430	–	-1.37%	–

Q2 2013

			Value		Shares		↓ Weighting
NGL	New	NGL Energy LPcmn stk	$15,842,805,000	–	524,770	–	4.97%	–
WMB	New	Williams Cocmn stk	$15,256,873,000	–	469,876	–	4.79%	–
OKS	New	ONEOK LPcmn stk	$12,520,468,000	–	252,837	–	3.93%	–
MMP	New	Magellan LPcmn stk	$9,394,274,000	–	172,372	–	2.95%	–
EROC	New	Eagle Rock LPcmn stk	$9,188,579,000	–	1,167,545	–	2.88%	–
DCP	New	DCP Mid LPcmn stk	$8,942,567,000	–	165,297	–	2.80%	–
NMM	New	Navios LPcmn stk	$8,933,177,000	–	618,213	–	2.80%	–
MWE	New	MarkWest LPcmn stk	$8,143,746,000	–	121,821	–	2.56%	–
PVR	New	PVR Partnerscmn stk	$7,461,417,000	–	273,312	–	2.34%	–
AHGP	New	Alliance GPcmn stk	$7,329,528,000	–	114,973	–	2.30%	–
ET	New	Enrgy Trans Eqcmn stk	$6,760,051,000	–	113,007	–	2.12%	–
TGP	New	Teekay LNGcmn stk	$6,619,195,000	–	151,469	–	2.08%	–
RRMS	New	Rose Rock LPcmn stk	$6,442,227,000	–	175,921	–	2.02%	–
APL	New	Atlas Pipe LPcmn stk	$6,412,673,000	–	167,915	–	2.01%	–
GEL	New	Genesis LPcmn stk	$6,238,206,000	–	120,359	–	1.96%	–
TLP	New	Transmontaignecmn stk	$5,589,662,000	–	133,373	–	1.75%	–
XTEX	New	Crosstex LPcmn stk	$5,465,764,000	–	265,071	–	1.72%	–
2108SC	New	El Paso LPcmn stk	$5,269,658,000	–	120,670	–	1.65%	–
	New	RAIT Finconv bond	$4,739,679,000	–	3,907,000	–	1.49%	–
MMLP	New	Martin Mid LPcmn stk	$4,578,878,000	–	103,853	–	1.44%	–
DIA	New	SPDR DJIAcmn stk	$4,371,861,000	–	29,430	–	1.37%	–
TLLP	New	Tesoro LPcmn stk	$4,348,887,000	–	71,930	–	1.36%	–
	New	Sunpowerconv bond	$4,198,275,000	–	3,970,000	–	1.32%	–
SDRPQ	New	Sandridgeconv pref	$3,885,056,000	–	40,575	–	1.22%	–
HEP	New	HollyLPcmn stk	$3,667,056,000	–	96,400	–	1.15%	–
TOO	New	Teekay Off LPcmn stk	$3,646,608,000	–	112,307	–	1.14%	–
WPZ	New	Williams LPcmn stk	$3,413,369,000	–	66,151	–	1.07%	–
	New	Trinity Indconv bond	$3,355,412,000	–	2,875,000	–	1.05%	–
WPX	New	WPX Energycmn stk	$3,270,637,000	–	172,684	–	1.03%	–
EXLP	New	Exterran LPcmn stk	$2,954,272,000	–	97,856	–	0.93%	–
IBM	New	IBMcmn stk	$2,797,085,000	–	14,636	–	0.88%	–
	New	Dendreonconv bond	$2,595,000,000	–	3,460,000	–	0.81%	–
	New	Knight Capconv bond	$2,530,759,000	–	2,530,000	–	0.79%	–
BGEPF	New	Bungeconv pref	$2,495,616,000	–	24,795	–	0.78%	–
	New	Gen Cableconv bond	$2,474,708,000	–	2,245,000	–	0.78%	–
AYR	New	Aircastlecmn stk	$2,428,097,000	–	151,851	–	0.76%	–
EPD	New	Enterprise LPcmn stk	$2,413,583,000	–	38,835	–	0.76%	–
PTQEP	New	Petroquestconv pref	$2,402,330,000	–	70,740	–	0.75%	–
	New	Alliant Techconv bond	$2,275,101,000	–	1,975,000	–	0.71%	–
XTXI	New	Crosstex Inc.cmn stk	$2,231,518,000	–	112,931	–	0.70%	–
	New	Auxiliumconv bond	$2,124,760,000	–	2,195,000	–	0.67%	–
	New	Stillwaterconv bond	$2,124,129,000	–	2,126,000	–	0.67%	–
CVX	New	Chevroncmn stk	$2,096,904,000	–	17,719	–	0.66%	–
	New	Jefferiesconv bond	$2,072,678,000	–	1,872,000	–	0.65%	–
XOM	New	Exxoncmn stk	$1,917,136,000	–	21,219	–	0.60%	–
OCRPRB	New	Omnicareconv pref	$1,902,618,000	–	32,166	–	0.60%	–
L109PS	New	Access Mid LPcmn stk	$1,759,414,000	–	36,885	–	0.55%	–
BAC	New	Bk of Amercmn stk	$1,751,930,000	–	136,231	–	0.55%	–
	New	Janus Capconv bond	$1,732,525,000	–	1,660,000	–	0.54%	–
PAA	New	Plains LPcmn stk	$1,718,166,000	–	30,786	–	0.54%	–
MCD	New	McDonald'scmn stk	$1,691,811,000	–	17,089	–	0.53%	–
MMM	New	3M Cocmn stk	$1,632,089,000	–	14,925	–	0.51%	–
CTB	New	Cooper Tirecmn stk	$1,622,694,000	–	48,921	–	0.51%	–
JNJ	New	JJNJcmn stk	$1,602,920,000	–	18,669	–	0.50%	–
BA	New	Boeingcmn stk	$1,563,029,000	–	15,258	–	0.49%	–
SUSQ	New	Susquehannacmn stk	$1,535,790,000	–	119,517	–	0.48%	–
OXF	New	Oxford Res LPcmn stk	$1,517,227,000	–	568,250	–	0.48%	–
	New	Coeur D'Aleneconv bond	$1,454,858,000	–	1,466,000	–	0.46%	–
UTX	New	United Techcmn stk	$1,376,534,000	–	14,811	–	0.43%	–
	New	Hawaiian Hldgsconv bond	$1,365,625,000	–	1,250,000	–	0.43%	–
PG	New	P & Gcmn stk	$1,354,254,000	–	17,590	–	0.42%	–
	New	Archer Danielsconv bond	$1,309,552,000	–	1,298,000	–	0.41%	–
OLN	New	Olincmn stk	$1,303,221,000	–	54,483	–	0.41%	–
HA	New	Hawaiian Hldgscmn stk	$1,290,218,000	–	211,165	–	0.40%	–
QCRH	New	QCR Holdcmn stk	$1,280,629,000	–	82,889	–	0.40%	–
ETP	New	Enrgy Trans Pt LPcmn stk	$1,279,066,000	–	25,308	–	0.40%	–
HD	New	Home Depotcmn stk	$1,244,400,000	–	16,063	–	0.39%	–
WMT	New	Wal-Martcmn stk	$1,235,714,000	–	16,589	–	0.39%	–
SONC	New	Soniccmn stk	$1,228,383,000	–	84,425	–	0.38%	–
CAT	New	Caterpillarcmn stk	$1,195,692,000	–	14,495	–	0.38%	–
4945SC	New	Kinder Morgan LPcmn stk	$1,171,090,000	–	13,713	–	0.37%	–
	New	McMoran Expconv bond	$1,166,250,000	–	1,000,000	–	0.37%	–
TRV	New	Travelerscmn stk	$1,165,073,000	–	14,578	–	0.36%	–
KALU	New	Kaiser Alumcmn stk	$1,164,224,000	–	18,796	–	0.36%	–
BANC	New	Banc of Calcmn stk	$1,158,957,000	–	85,343	–	0.36%	–
JPM	New	JPMorgancmn stk	$1,087,474,000	–	20,600	–	0.34%	–
ABFS	New	Ark Bestcmn stk	$1,078,669,000	–	47,001	–	0.34%	–
AXP	New	Am Exp Cocmn stk	$1,074,600,000	–	14,374	–	0.34%	–
	New	Genco Shipconv bond	$954,787,000	–	3,690,000	–	0.30%	–
VZ	New	Verizoncmn stk	$934,511,000	–	18,564	–	0.29%	–
	New	Bristol-Meyersconv bond	$930,138,000	–	803,000	–	0.29%	–
UNH	New	UnitedHealthcmn stk	$929,881,000	–	14,201	–	0.29%	–
DIS	New	Walt Disneycmn stk	$931,020,000	–	14,743	–	0.29%	–
SPAR	New	Spartan Motorscmn stk	$922,198,000	–	150,686	–	0.29%	–
OMG	New	OM Groupcmn stk	$921,323,000	–	29,797	–	0.29%	–
DAKT	New	Daktronicscmn stk	$868,950,000	–	84,693	–	0.27%	–
MRK	New	Merckcmn stk	$864,852,000	–	18,619	–	0.27%	–
NGLS	New	Targa Rescmn stk	$857,650,000	–	17,000	–	0.27%	–
UIS	New	Unisyscmn stk	$849,143,000	–	38,475	–	0.27%	–
IRDM	New	Iridium Commcmn stk	$843,092,000	–	108,646	–	0.26%	–
OVTI	New	OmniVisioncmn stk	$839,156,000	–	44,995	–	0.26%	–
UAL	New	UALcmn stk	$833,174,000	–	26,628	–	0.26%	–
SUP	New	Superior Indcmn stk	$810,396,000	–	47,089	–	0.25%	–
DD	New	du Pontcmn stk	$801,937,000	–	15,275	–	0.25%	–
	New	USECconv bond	$800,940,000	–	3,814,000	–	0.25%	–
GE	New	GEcmn stk	$785,172,000	–	33,858	–	0.25%	–
T	New	A T & Tcmn stk	$744,143,000	–	21,021	–	0.23%	–
KO	New	Coca-Colacmn stk	$733,250,000	–	18,281	–	0.23%	–
SVU	New	SUPERVALUcmn stk	$719,119,000	–	115,614	–	0.23%	–
CJES	New	C & J Energycmn stk	$714,075,000	–	36,865	–	0.22%	–
MSFT	New	Microsoftcmn stk	$674,064,000	–	19,513	–	0.21%	–
PFE	New	Pfizercmn stk	$659,215,000	–	23,535	–	0.21%	–
EEP	New	Enbridge LPcmn stk	$615,898,000	–	20,200	–	0.19%	–
UCFC	New	Untd Comm Fincmn stk	$603,351,000	–	129,753	–	0.19%	–
FMCKI	New	Freddie Macpref stk	$577,885,000	–	146,300	–	0.18%	–
RSTI	New	Rofin-Sinarcmn stk	$566,761,000	–	22,725	–	0.18%	–
PTGI	New	Primus Telecmn stk	$550,696,000	–	46,122	–	0.17%	–
KMR	New	Kinder Mrgn LLCcmn stk	$552,911,000	–	6,615	–	0.17%	–
RAIL	New	FreightCarcmn stk	$548,488,000	–	32,283	–	0.17%	–
FBMI	New	Firstbank Corpcmn stk	$500,863,000	–	37,350	–	0.16%	–
WES	New	Western Gas LPcmn stk	$493,164,000	–	7,600	–	0.16%	–
EVBS	New	Est Virg Bankcmn stk	$492,000,000	–	98,400	–	0.15%	–
PFBI	New	Premier Fincmn stk	$457,796,000	–	38,023	–	0.14%	–
INTC	New	Intelcmn stk	$450,193,000	–	18,580	–	0.14%	–
IBCA	New	Intervest Banccmn stk	$439,377,000	–	65,775	–	0.14%	–
SBFG	New	SB Financialcmn stk	$429,539,000	–	56,370	–	0.14%	–
HFC	New	Holly Corpcmn stk	$427,800,000	–	10,000	–	0.13%	–
BNCN	New	BNC Banccmn stk	$418,988,000	–	36,689	–	0.13%	–
HPQ	New	HPcmn stk	$403,793,000	–	16,282	–	0.13%	–
FNFG	New	First Niagaracmn stk	$393,938,000	–	39,120	–	0.12%	–
MFSF	New	MutualFirstcmn stk	$393,245,000	–	27,870	–	0.12%	–
YDKN	New	Yadkin Fincmn stk	$365,450,000	–	26,029	–	0.12%	–
ZION	New	Zionscmn stk	$363,264,000	–	12,561	–	0.11%	–
ASRV	New	AmeriServcmn stk	$361,216,000	–	131,831	–	0.11%	–
CSCO	New	Ciscocmn stk	$361,301,000	–	14,847	–	0.11%	–
SLYV	New	SPDR 600cmn stk	$355,658,000	–	4,002	–	0.11%	–
IYF	New	DJ US Financialcmn stk	$341,484,000	–	4,774	–	0.11%	–
NBBC	New	NewBridgecmn stk	$339,297,000	–	56,644	–	0.11%	–
FRME	New	Fst Merchantscmn stk	$331,338,000	–	19,320	–	0.10%	–
FMFC	New	Fst M & Fcmn stk	$318,081,000	–	20,119	–	0.10%	–
IBCP	New	Ind Bank Corpcmn stk	$308,178,000	–	48,995	–	0.10%	–
HMNF	New	HMN Financialcmn stk	$304,023,000	–	42,760	–	0.10%	–
EEM	New	MSCI Emerg Mktcmn stk	$293,177,000	–	7,615	–	0.09%	–
UBOH	New	United Bancscmn stk	$262,762,000	–	21,698	–	0.08%	–
CVLY	New	Codorus Banccmn stk	$254,127,000	–	14,605	–	0.08%	–
PPBI	New	Pac Premier Banccmn stk	$255,886,000	–	20,940	–	0.08%	–
JFBI	New	Jefferson Banccmn stk	$252,577,000	–	44,704	–	0.08%	–
MSFG	New	MainSourcecmn stk	$252,752,000	–	18,820	–	0.08%	–
UCBI	New	Utd Comm Bankcmn stk	$247,903,000	–	19,960	–	0.08%	–
XRM	New	Xerium Techcmn stk	$248,603,000	–	24,421	–	0.08%	–
AF	New	Astoria Fincmn stk	$244,544,000	–	22,685	–	0.08%	–
STI	New	SunTrustcmn stk	$236,459,000	–	7,490	–	0.07%	–
CSFL	New	CenterStatecmn stk	$227,633,000	–	26,225	–	0.07%	–
UBMI	New	Utd Bancorpcmn stk	$220,489,000	–	38,887	–	0.07%	–
SFST	New	Sthn First Banccmn stk	$218,975,000	–	19,925	–	0.07%	–
HFBC	New	HopFed Banccmn stk	$215,260,000	–	19,932	–	0.07%	–
SWS	New	SWS Groupcmn stk	$207,563,000	–	38,085	–	0.06%	–
TIP	New	iShares TIPScmn stk	$204,603,000	–	1,827	–	0.06%	–
WSBC	New	WesBancocmn stk	$200,233,000	–	7,576	–	0.06%	–
MOFG	New	MidWest Onecmn stk	$201,598,000	–	8,379	–	0.06%	–
OKE	New	ONEOKcmn stk	$181,764,000	–	4,400	–	0.06%	–
HFFC	New	HF Financialcmn stk	$178,588,000	–	13,727	–	0.06%	–
ARLP	New	Alliance Res LPcmn stk	$167,746,000	–	2,375	–	0.05%	–
FCF	New	Ft Commnwlthcmn stk	$157,113,000	–	21,318	–	0.05%	–
FBNC	New	First Banccmn stk	$150,024,000	–	10,640	–	0.05%	–
PSTB	New	Park Sterlingcmn stk	$145,651,000	–	24,645	–	0.05%	–
BHLB	New	Berkshire Hillscmn stk	$129,833,000	–	4,677	–	0.04%	–
BCSB	New	BCSB Banccmn stk	$101,599,000	–	4,340	–	0.03%	–
FITB	New	Fifth Thirdcmn stk	$102,253,000	–	5,665	–	0.03%	–
AA	New	Alcoacmn stk	$102,528,000	–	13,111	–	0.03%	–
MPLX	New	MPLX LPcmn stk	$90,736,000	–	2,465	–	0.03%	–
PVTB	New	PrivateBancorpcmn stk	$87,722,000	–	4,133	–	0.03%	–
FCCY	New	1st Const Bancmn stk	$87,153,000	–	9,174	–	0.03%	–
APFC	New	Amer Paccmn stk	$56,700,000	–	2,000	–	0.02%	–
RAS	New	RAIT Fincmn stk	$56,024,000	–	7,450	–	0.02%	–
MO	New	Altriacmn stk	$53,118,000	–	1,518	–	0.02%	–
	New	Primus Telewrnt	$45,437,000	–	9,417	–	0.01%	–
DCBF	New	DCB Fincmn stk	$41,483,000	–	7,827	–	0.01%	–
SGU	New	Star Gas LPcmn stk	$35,208,000	–	7,200	–	0.01%	–
BACPRL	New	Bk of Amerconv pref	$32,164,000	–	29	–	0.01%	–
	New	Capital Prod LPcmn stk	$32,480,000	–	3,500	–	0.01%	–
AESPRC	New	A E Sconv pref	$33,328,000	–	660	–	0.01%	–
DORLP	New	Doral Finpref stk	$25,500,000	–	1,500	–	0.01%	–
UAN	New	CVR Part LPcmn stk	$22,730,000	–	1,000	–	0.01%	–
TNK	New	Teekay Tankerscmn stk	$21,040,000	–	8,000	–	0.01%	–
KMI	New	Kinder Mrgn Inccmn stk	$17,358,000	–	455	–	0.01%	–
DRL	New	Doral Fincmn stk	$16,600,000	–	20,000	–	0.01%	–
UMPQ	New	Umpquacmn stk	$16,511,000	–	1,100	–	0.01%	–
	New	Primus Telewrnt	$12,712,000	–	9,417	–	0.00%	–
WEBC	New	Webco Indcmn stk	$11,200,000	–	100	–	0.00%	–
ZAZA	New	ZaZa Energycmn stk	$11,160,000	–	9,300	–	0.00%	–
AGM	New	Fed Ag Mtgecmn stk	$11,552,000	–	400	–	0.00%	–
KMIWS	New	Kinder Morganwrnt	$10,828,000	–	2,115	–	0.00%	–
CBF	New	Capital Bk Fincmn stk	$8,996,000	–	473	–	0.00%	–
COFS	New	Choiceone Fincmn stk	$9,705,000	–	576	–	0.00%	–
OKSB	New	SW Bancorpcmn stk	$10,560,000	–	800	–	0.00%	–
DORLN	New	Doral Finpref stk	$9,700,000	–	1,000	–	0.00%	–
BANR	New	Bannercmn stk	$6,767,000	–	200	–	0.00%	–
CATY	New	Cathay Gencmn stk	$6,512,000	–	320	–	0.00%	–
XRMWQ	New	Xerium Techwrnt	$3,496,000	–	5,828	–	0.00%	–
AOI	New	Alliance Onecmn stk	$3,800,000	–	1,000	–	0.00%	–
6994RTS	New	East Virg Bankwrnt	$2,055,000	–	41,100	–	0.00%	–
CVO	New	Cenveocmn stk	$1,778,000	–	835	–	0.00%	–
	New	Primus Telewrnt	$941,000	–	9,417	–	0.00%	–

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