Q4 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| SBRA | Sell | SABRA HEALTH CARE REIT INC | $8,576,000 | -10.3% | 351,170 | -7.5% | 12.07% | -2.3% |
| WHLR | Sell | WHEELER REAL ESTATE INVT TR | $5,766,000 | -8.8% | 3,391,970 | -6.1% | 8.12% | -0.6% |
| FEIM | Sell | FREQUENCY ELECTRS INC | $4,952,000 | -30.5% | 458,510 | -32.4% | 6.97% | -24.3% |
| TLYS | Sell | TILLYS INCcl a | $4,605,000 | -15.9% | 349,142 | -40.1% | 6.48% | -8.4% |
| TAXA | New | LIBERTY TAX INCcl a | $3,101,000 | – | 231,439 | – | 4.37% | – |
| HMTV | Buy | HEMISPHERE MEDIA GROUP INCcl a | $2,724,000 | +5.3% | 243,255 | +19.9% | 3.84% | +14.6% |
| EMGCQ | Buy | EMERGENT CAP INC | $2,140,000 | -58.4% | 1,768,794 | +0.8% | 3.01% | -54.7% |
| BOFI | Sell | BOFI HLDG INCcall | $645,000 | +84.3% | 750 | -25.0% | 0.91% | +100.4% |
| KIRK | Exit | KIRKLANDS INC | $0 | – | -146,254 | – | -2.30% | – |
| GEO | Exit | GEO GROUP INC NEW | $0 | – | -84,240 | – | -2.59% | – |
Q3 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| HRB | Buy | BLOCK H & R INC | $11,409,000 | +1.8% | 492,833 | +1.1% | 14.75% | -3.6% |
| SBRA | Sell | SABRA HEALTH CARE REIT INC | $9,559,000 | +13.5% | 379,615 | -7.0% | 12.36% | +7.5% |
| DST | Buy | DST SYS INC DEL | $7,634,000 | +2.4% | 64,736 | +1.1% | 9.87% | -3.0% |
| FEIM | Buy | FREQUENCY ELECTRS INC | $7,125,000 | +14.7% | 677,963 | +1.5% | 9.21% | +8.6% |
| WHLR | Buy | WHEELER REAL ESTATE INVT TR | $6,320,000 | +14.4% | 3,611,582 | +0.7% | 8.17% | +8.4% |
| FCFS | New | FIRST CASH FINL SVCS INC | $5,505,000 | – | 116,935 | – | 7.12% | – |
| TLYS | Sell | TILLYS INCcl a | $5,474,000 | +42.8% | 582,932 | -11.9% | 7.08% | +35.3% |
| EMGCQ | Buy | EMERGENT CAP INC | $5,142,000 | -11.2% | 1,755,030 | +1.8% | 6.65% | -15.9% |
| BOFI | New | BOFI HLDG INC | $4,960,000 | – | 221,446 | – | 6.41% | – |
| XOXO | Buy | XO GROUP INC | $3,863,000 | +11.9% | 199,856 | +0.9% | 5.00% | +6.1% |
| PRGX | Buy | PRGX GLOBAL INC | $3,629,000 | -7.9% | 770,498 | +2.1% | 4.69% | -12.7% |
| HMTV | New | HEMISPHERE MEDIA GROUP INCcl a | $2,588,000 | – | 202,953 | – | 3.35% | – |
| GEO | Sell | GEO GROUP INC NEW | $2,003,000 | -74.4% | 84,240 | -63.2% | 2.59% | -75.7% |
| KIRK | Sell | KIRKLANDS INC | $1,781,000 | -20.7% | 146,254 | -4.4% | 2.30% | -24.8% |
| BOFI | New | BOFI HLDG INCcall | $350,000 | – | 1,000 | – | 0.45% | – |
| DAKPQ | Exit | DAKOTA PLAINS HLDGS INC | $0 | – | -3,413,110 | – | -0.51% | – |
| ONE | Exit | HIGHER ONE HLDGS INC | $0 | – | -220,000 | – | -1.53% | – |
| CSH | Exit | CASH AMER INTL INC | $0 | – | -137,710 | – | -8.01% | – |
Q2 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| HRB | New | BLOCK H & R INC | $11,210,000 | – | 487,406 | – | 15.30% | – |
| SBRA | New | SABRA HEALTH CARE REIT INC | $8,425,000 | – | 408,306 | – | 11.50% | – |
| GEO | New | GEO GROUP INC NEW | $7,820,000 | – | 228,779 | – | 10.67% | – |
| DST | New | DST SYS INC DEL | $7,453,000 | – | 64,016 | – | 10.17% | – |
| FEIM | New | FREQUENCY ELECTRS INC | $6,214,000 | – | 668,178 | – | 8.48% | – |
| CSH | New | CASH AMER INTL INC | $5,869,000 | – | 137,710 | – | 8.01% | – |
| EMGCQ | New | EMERGENT CAP INC | $5,793,000 | – | 1,724,040 | – | 7.91% | – |
| WHLR | New | WHEELER REAL ESTATE INVT TR | $5,525,000 | – | 3,587,413 | – | 7.54% | – |
| PRGX | New | PRGX GLOBAL INC | $3,940,000 | – | 754,738 | – | 5.38% | – |
| TLYS | New | TILLYS INCcl a | $3,832,000 | – | 661,839 | – | 5.23% | – |
| XOXO | New | XO GROUP INC | $3,451,000 | – | 198,006 | – | 4.71% | – |
| KIRK | New | KIRKLANDS INC | $2,245,000 | – | 152,955 | – | 3.06% | – |
| ONE | New | HIGHER ONE HLDGS INC | $1,124,000 | – | 220,000 | – | 1.53% | – |
| DAKPQ | New | DAKOTA PLAINS HLDGS INC | $375,000 | – | 3,413,110 | – | 0.51% | – |
Q4 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| DAKPQ | Exit | DAKOTA PLAINS HLDGS INC | $0 | – | -3,059,609 | – | -2.53% | – |
| PRGX | Exit | PRGX GLOBAL INC | $0 | – | -724,375 | – | -2.82% | – |
| XOXO | Exit | XO GROUP INC | $0 | – | -194,286 | – | -2.84% | – |
| TLYS | Exit | TILLYS INCcl a | $0 | – | -522,676 | – | -3.98% | – |
| NGS | Exit | NATURAL GAS SERVICES GROUP | $0 | – | -207,726 | – | -4.15% | – |
| WHLR | Exit | WHEELER REAL ESTATE INVT TR | $0 | – | -2,352,557 | – | -4.62% | – |
| FEIM | Exit | FREQUENCY ELECTRS INC | $0 | – | -485,456 | – | -5.21% | – |
| DST | Exit | DST SYS INC DEL | $0 | – | -51,251 | – | -5.57% | – |
| EMGCQ | Exit | EMERGENT CAP INC | $0 | – | -1,218,354 | – | -6.87% | – |
| GEO | Exit | GEO GROUP INC NEW | $0 | – | -224,335 | – | -6.90% | – |
| SBRA | Exit | SABRA HEALTH CARE REIT INC | $0 | – | -300,596 | – | -7.21% | – |
| STBZ | Exit | STATE BK FINL CORP | $0 | – | -407,860 | – | -8.72% | – |
| CKP | Exit | CHECKPOINT SYS INC | $0 | – | -1,182,668 | – | -8.87% | – |
| CSH | Exit | CASH AMER INTL INC | $0 | – | -407,780 | – | -11.80% | – |
| HRB | Exit | BLOCK H & R INC | $0 | – | -478,635 | – | -17.92% | – |
Q3 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CSH | Sell | CASH AMER INTL INC | $11,406,000 | +6.2% | 407,780 | -0.6% | 11.80% | +15.8% |
| CKP | Buy | CHECKPOINT SYS INC | $8,574,000 | -2.4% | 1,182,668 | +37.1% | 8.87% | +6.5% |
| STBZ | Sell | STATE BK FINL CORP | $8,435,000 | -5.5% | 407,860 | -0.9% | 8.72% | +3.0% |
| SBRA | Sell | SABRA HEALTH CARE REIT INC | $6,968,000 | -10.4% | 300,596 | -0.5% | 7.21% | -2.3% |
| GEO | Buy | GEO GROUP INC NEW | $6,672,000 | -10.9% | 224,335 | +2.4% | 6.90% | -2.8% |
| EMGCQ | New | EMERGENT CAP INC | $6,640,000 | – | 1,218,354 | – | 6.87% | – |
| DST | Buy | DST SYS INC DEL | $5,389,000 | +1.8% | 51,251 | +22.0% | 5.57% | +11.0% |
| FEIM | Buy | FREQUENCY ELECTRS INC | $5,034,000 | +30.3% | 485,456 | +41.8% | 5.21% | +42.1% |
| WHLR | Sell | WHEELER REAL ESTATE INVT TR | $4,470,000 | -26.6% | 2,352,557 | -21.6% | 4.62% | -19.9% |
| NGS | Buy | NATURAL GAS SERVICES GROUP | $4,009,000 | -13.6% | 207,726 | +2.2% | 4.15% | -5.7% |
| TLYS | Buy | TILLYS INCcl a | $3,847,000 | -19.4% | 522,676 | +5.9% | 3.98% | -12.1% |
| XOXO | Buy | XO GROUP INC | $2,745,000 | -12.9% | 194,286 | +0.8% | 2.84% | -5.0% |
| PRGX | Buy | PRGX GLOBAL INC | $2,731,000 | +47.7% | 724,375 | +72.0% | 2.82% | +61.0% |
| DAKPQ | Buy | DAKOTA PLAINS HLDGS INC | $2,448,000 | -29.4% | 3,059,609 | +5.0% | 2.53% | -23.0% |
| BCOR | Exit | BLUCORA INC | $0 | – | -22,193 | – | -0.34% | – |
| EQC | Exit | EQUITY COMWLTH | $0 | – | -271,493 | – | -6.61% | – |
| IFT | Exit | IMPERIAL HLDGS INC | $0 | – | -1,224,083 | – | -6.72% | – |
Q2 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| HRB | New | BLOCK H & R INC | $14,192,000 | – | 478,635 | – | 13.46% | – |
| CSH | New | CASH AMER INTL INC | $10,745,000 | – | 410,280 | – | 10.19% | – |
| STBZ | New | STATE BK FINL CORP | $8,929,000 | – | 411,481 | – | 8.47% | – |
| CKP | New | CHECKPOINT SYS INC | $8,782,000 | – | 862,675 | – | 8.33% | – |
| SBRA | New | SABRA HEALTH CARE REIT INC | $7,776,000 | – | 302,096 | – | 7.37% | – |
| GEO | New | GEO GROUP INC NEW | $7,486,000 | – | 219,135 | – | 7.10% | – |
| IFT | New | IMPERIAL HLDGS INC | $7,087,000 | – | 1,224,083 | – | 6.72% | – |
| EQC | New | EQUITY COMWLTH | $6,969,000 | – | 271,493 | – | 6.61% | – |
| WHLR | New | WHEELER REAL ESTATE INVT TR | $6,090,000 | – | 3,000,000 | – | 5.78% | – |
| DST | New | DST SYS INC DEL | $5,292,000 | – | 42,003 | – | 5.02% | – |
| TLYS | New | TILLYS INC | $4,773,000 | – | 493,619 | – | 4.53% | – |
| NGS | New | NATURAL GAS SERVICES GROUP | $4,638,000 | – | 203,244 | – | 4.40% | – |
| FEIM | New | FREQUENCY ELECTRS INC | $3,862,000 | – | 342,378 | – | 3.66% | – |
| DAKPQ | New | DAKOTA PLAINS HLDGS INC | $3,468,000 | – | 2,914,273 | – | 3.29% | – |
| XOXO | New | XO GROUP INC | $3,150,000 | – | 192,686 | – | 2.99% | – |
| PRGX | New | PRGX GLOBAL INC | $1,849,000 | – | 421,244 | – | 1.75% | – |
| BCOR | New | BLUCORA INC | $358,000 | – | 22,193 | – | 0.34% | – |
Q4 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| APPCQ | Exit | AMERICAN APPAREL INC | $0 | – | -2,116,083 | – | -1.68% | – |
| TLYS | Exit | TILLYS INC | $0 | – | -320,073 | – | -2.33% | – |
| AVIV | Exit | AVIV REIT INC MD | $0 | – | -112,452 | – | -2.87% | – |
| XOXO | Exit | XO GROUP INC | $0 | – | -430,749 | – | -4.68% | – |
| GEO | Exit | GEO GROUP INC NEW | $0 | – | -138,970 | – | -5.15% | – |
| GTY | Exit | GETTY RLTY CORP NEW | $0 | – | -320,404 | – | -5.28% | – |
| PFMT | Exit | PERFORMANT FINL CORP | $0 | – | -810,823 | – | -6.35% | – |
| STBZ | Exit | STATE BK FINL CORP | $0 | – | -427,094 | – | -6.72% | – |
| EQC | Exit | EQUITY COMWLTH | $0 | – | -269,864 | – | -6.72% | – |
| IFT | Exit | IMPERIAL HLDGS INC | $0 | – | -1,175,057 | – | -7.34% | – |
| DST | Exit | DST SYS INC DEL | $0 | – | -92,204 | – | -7.50% | – |
| BCOR | Exit | BLUCORA INC | $0 | – | -523,221 | – | -7.73% | – |
| CKP | Exit | CHECKPOINT SYS INC | $0 | – | -765,005 | – | -9.06% | – |
| SBRA | Exit | SABRA HEALTH CARE REIT INC | $0 | – | -391,132 | – | -9.22% | – |
| HRB | Exit | BLOCK H & R INC | $0 | – | -578,412 | – | -17.38% | – |
Q3 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| HRB | Sell | BLOCK H & R INC | $17,937,000 | -20.1% | 578,412 | -13.6% | 17.38% | -0.5% |
| SBRA | Sell | SABRA HEALTH CARE REIT INC | $9,512,000 | -23.8% | 391,132 | -10.1% | 9.22% | -5.2% |
| CKP | Buy | CHECKPOINT SYS INC | $9,356,000 | +3.4% | 765,005 | +18.2% | 9.06% | +28.7% |
| BCOR | Buy | BLUCORA INC | $7,974,000 | -7.9% | 523,221 | +14.0% | 7.73% | +14.6% |
| DST | Buy | DST SYS INC DEL | $7,738,000 | +41.8% | 92,204 | +55.8% | 7.50% | +76.5% |
| IFT | Sell | IMPERIAL HLDGS INC | $7,579,000 | -8.3% | 1,175,057 | -3.0% | 7.34% | +14.1% |
| EQC | New | EQUITY COMWLTH | $6,938,000 | – | 269,864 | – | 6.72% | – |
| STBZ | Sell | STATE BK FINL CORP | $6,936,000 | -24.1% | 427,094 | -21.0% | 6.72% | -5.6% |
| PFMT | Sell | PERFORMANT FINL CORP | $6,551,000 | -20.3% | 810,823 | -0.4% | 6.35% | -0.8% |
| GTY | Sell | GETTY RLTY CORP NEW | $5,447,000 | -28.5% | 320,404 | -19.8% | 5.28% | -11.0% |
| GEO | Sell | GEO GROUP INC NEW | $5,311,000 | -2.1% | 138,970 | -8.4% | 5.15% | +21.9% |
| XOXO | Sell | XO GROUP INC | $4,829,000 | -31.5% | 430,749 | -25.4% | 4.68% | -14.8% |
| AVIV | Sell | AVIV REIT INC MD | $2,963,000 | -63.9% | 112,452 | -61.4% | 2.87% | -55.1% |
| TLYS | Buy | TILLYS INC | $2,407,000 | +474.5% | 320,073 | +513.7% | 2.33% | +615.3% |
| APPCQ | Sell | AMERICAN APPAREL INC | $1,735,000 | -49.5% | 2,116,083 | -44.6% | 1.68% | -37.1% |
| AAN | Exit | AARONS INC | $0 | – | -112,433 | – | -3.12% | – |
| 3101SC | Exit | COMMONWEALTH REIT | $0 | – | -325,978 | – | -6.68% | – |
Q2 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| HRB | New | BLOCK H & R INC | $22,447,000 | – | 669,652 | – | 17.47% | – |
| SBRA | New | SABRA HEALTH CARE REIT INC | $12,487,000 | – | 434,924 | – | 9.72% | – |
| STBZ | New | STATE BK FINL CORP | $9,143,000 | – | 540,657 | – | 7.12% | – |
| CKP | New | CHECKPOINT SYS INC | $9,051,000 | – | 646,982 | – | 7.04% | – |
| BCOR | New | BLUCORA INC | $8,662,000 | – | 459,012 | – | 6.74% | – |
| 3101SC | New | COMMONWEALTH REIT | $8,580,000 | – | 325,978 | – | 6.68% | – |
| IFT | New | IMPERIAL HLDGS INC | $8,266,000 | – | 1,211,974 | – | 6.43% | – |
| PFMT | New | PERFORMANT FINL CORP | $8,219,000 | – | 813,786 | – | 6.40% | – |
| AVIV | New | AVIV REIT INC MD | $8,210,000 | – | 291,435 | – | 6.39% | – |
| GTY | New | GETTY RLTY CORP NEW | $7,622,000 | – | 399,491 | – | 5.93% | – |
| XOXO | New | XO GROUP INC | $7,052,000 | – | 577,108 | – | 5.49% | – |
| DST | New | DST SYS INC DEL | $5,456,000 | – | 59,200 | – | 4.25% | – |
| GEO | New | GEO GROUP INC | $5,423,000 | – | 151,764 | – | 4.22% | – |
| AAN | New | AARONS INC | $4,007,000 | – | 112,433 | – | 3.12% | – |
| APPCQ | New | AMERICAN APPAREL INC | $3,435,000 | – | 3,816,675 | – | 2.67% | – |
| TLYS | New | TILLYS INC | $419,000 | – | 52,155 | – | 0.33% | – |
Q4 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CWCO | Exit | Consolidated Water | $0 | – | -72,144 | – | -0.80% | – |
| DOC | Exit | Physicians Realty Trust | $0 | – | -152,460 | – | -1.36% | – |
| 3101SC | Exit | CommonWealth REIT | $0 | – | -84,907 | – | -1.37% | – |
| RCII | Exit | Rent-A-Center Inc. | $0 | – | -97,189 | – | -2.73% | – |
| Exit | Holloway Lodging Corp. | $0 | – | -1,241,800 | – | -3.30% | – | |
| STBZ | Exit | State Bank Fin Corp | $0 | – | -417,352 | – | -4.88% | – |
| GEO | Exit | Geo Group Inc | $0 | – | -209,223 | – | -5.13% | – |
| VCI | Exit | Valassis Communications | $0 | – | -241,158 | – | -5.14% | – |
| AVIV | Exit | Aviv REIT, Inc | $0 | – | -415,474 | – | -6.99% | – |
| SBRA | Exit | Sabra Health Care | $0 | – | -448,345 | – | -7.61% | – |
| IFT | Exit | Imperial Holdings | $0 | – | -1,656,061 | – | -7.73% | – |
| GTY | Exit | Getty Realty | $0 | – | -550,760 | – | -7.89% | – |
| XOXO | Exit | XO Group Inc. | $0 | – | -1,011,430 | – | -9.64% | – |
| BCOR | Exit | Blucora, Inc. | $0 | – | -584,896 | – | -9.91% | – |
| AAN | Exit | Aaron's Inc | $0 | – | -531,086 | – | -10.85% | – |
| HRB | Exit | H&R Block Inc. | $0 | – | -745,756 | – | -14.66% | – |
Q3 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| HRB | Sell | H&R Block Inc. | $19,882,000 | -7.0% | 745,756 | -3.2% | 14.66% | +0.6% |
| AAN | Buy | Aaron's Inc | $14,711,000 | +4.8% | 531,086 | +5.9% | 10.85% | +13.4% |
| BCOR | Sell | Blucora, Inc. | $13,441,000 | +20.6% | 584,896 | -2.7% | 9.91% | +30.6% |
| IFT | Buy | Imperial Holdings | $10,483,000 | +13.0% | 1,656,061 | +22.2% | 7.73% | +22.3% |
| VCI | Sell | Valassis Communications | $6,965,000 | -22.5% | 241,158 | -34.0% | 5.14% | -16.1% |
| GEO | Buy | Geo Group Inc | $6,957,000 | +11.2% | 209,223 | +13.6% | 5.13% | +20.4% |
| STBZ | Buy | State Bank Fin Corp | $6,623,000 | +49.4% | 417,352 | +41.5% | 4.88% | +61.7% |
| RCII | Sell | Rent-A-Center Inc. | $3,704,000 | -53.5% | 97,189 | -54.2% | 2.73% | -49.6% |
| 3101SC | Sell | CommonWealth REIT | $1,860,000 | -71.9% | 84,907 | -70.4% | 1.37% | -69.6% |
| DOC | New | Physicians Realty Trust | $1,848,000 | – | 152,460 | – | 1.36% | – |
| CWCO | Sell | Consolidated Water | $1,080,000 | -66.5% | 72,144 | -74.4% | 0.80% | -63.7% |
| LVB | Exit | Steinway Musical Instruments Inc. | $0 | – | -143,178 | – | -2.97% | – |
Q2 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| HRB | New | H&R Block Inc. | $21,388,000 | – | 770,756 | – | 14.57% | – |
| AAN | New | Aaron's Inc | $14,041,000 | – | 501,301 | – | 9.57% | – |
| SBRA | New | Sabra Health Care REIT, Inc. | $11,706,000 | – | 448,345 | – | 7.98% | – |
| GTY | New | Getty Realty Corp. | $11,373,000 | – | 550,760 | – | 7.75% | – |
| XOXO | New | XO Group Inc. | $11,328,000 | – | 1,011,430 | – | 7.72% | – |
| BCOR | New | Blucora, Inc. | $11,141,000 | – | 600,896 | – | 7.59% | – |
| AVIV | New | Aviv REIT, Inc | $10,507,000 | – | 415,474 | – | 7.16% | – |
| IFT | New | Imperial Holdings, Inc. | $9,281,000 | – | 1,354,861 | – | 6.32% | – |
| VCI | New | Valassis Communications Inc. | $8,988,000 | – | 365,520 | – | 6.12% | – |
| RCII | New | Rent-A-Center, Inc. | $7,960,000 | – | 211,982 | – | 5.42% | – |
| 3101SC | New | CommonWealth REIT | $6,624,000 | – | 286,500 | – | 4.51% | – |
| GEO | New | The Geo Group, Inc. | $6,254,000 | – | 184,223 | – | 4.26% | – |
| STBZ | New | State Bank Financial Corporation | $4,434,000 | – | 294,982 | – | 3.02% | – |
| LVB | New | Steinway Musical Instruments Inc. | $4,357,000 | – | 143,178 | – | 2.97% | – |
| New | Holloway Lodging Corporation | $4,162,000 | – | 1,241,800 | – | 2.84% | – | |
| CWCO | New | Consolidated Water Co. Ltd. | $3,223,000 | – | 282,000 | – | 2.20% | – |