Poplar Forest Capital LLC Activity Q4 2008-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
EQH	Buy	EQUITABLE HLDGS INC	$42,261,212	+19.9%	1,488,595	+14.7%	4.90%	+6.3%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$42,084,809	+21.7%	299,963	+16.1%	4.88%	+7.9%
INTC	Buy	INTEL CORP	$41,946,725	+24.6%	1,179,936	+17.2%	4.87%	+10.4%
ABC	Buy	CENCORA INC	$40,456,716	+8.4%	224,797	+16.0%	4.69%	-3.9%
UTHR	Buy	UNITED THERAPEUTICS CORP DEL	$38,601,861	+18.3%	170,903	+15.6%	4.48%	+4.9%
CVX	Buy	CHEVRON CORP NEW	$38,328,675	+24.6%	227,308	+16.3%	4.45%	+10.5%
ALL	Buy	ALLSTATE CORP	$37,410,921	+31.4%	335,795	+28.6%	4.34%	+16.5%
NFG	Buy	NATIONAL FUEL GAS CO	$37,129,095	+18.2%	715,259	+16.9%	4.31%	+4.8%
CVS	Buy	CVS HEALTH CORP	$36,654,313	+18.1%	524,983	+16.9%	4.25%	+4.7%
DOW	Buy	DOW INC	$36,315,667	+15.6%	704,338	+19.4%	4.21%	+2.5%
PM	Buy	PHILIP MORRIS INTL INC	$35,356,117	+2.0%	381,898	+7.6%	4.10%	-9.5%
TSN	Buy	TYSON FOODS INCcl a	$34,710,461	+16.1%	687,472	+17.3%	4.03%	+2.9%
MRK	Buy	MERCK & CO INC	$34,313,956	+1.1%	333,307	+13.4%	3.98%	-10.3%
WFC	Buy	WELLS FARGO CO NEW	$33,481,011	+10.4%	819,408	+15.3%	3.88%	-2.1%
FDX	Buy	FEDEX CORP	$31,609,725	+24.2%	119,318	+16.3%	3.67%	+10.2%
FIS	Buy	FIDELITY NATL INFORMATION SV	$27,489,585	+16.1%	497,369	+14.9%	3.19%	+2.9%
DLTR	Buy	DOLLAR TREE INC	$26,422,806	-14.4%	248,218	+15.4%	3.07%	-24.1%
TPR	Buy	TAPESTRY INC	$23,335,541	+40.7%	811,671	+109.4%	2.71%	+24.7%
T	Sell	AT&T INC	$23,158,737	-13.8%	1,541,860	-8.4%	2.69%	-23.6%
LVS	Buy	LAS VEGAS SANDS CORP	$23,144,754	-8.2%	504,903	+16.1%	2.69%	-18.6%
OSK	Buy	OSHKOSH CORP	$22,706,900	+27.8%	237,943	+16.0%	2.64%	+13.4%
MUR	Buy	MURPHY OIL CORP	$20,796,512	+36.1%	458,578	+15.0%	2.41%	+20.7%
ALLY	Buy	ALLY FINL INC	$19,425,628	+14.1%	728,097	+15.5%	2.25%	+1.2%
ST	New	SENSATA TECHNOLOGIES HLDG PL	$18,235,405	–	482,163	–	2.12%	–
C	Sell	CITIGROUP INC	$17,029,794	-27.0%	414,048	-18.2%	1.98%	-35.2%
AIG	Sell	AMERICAN INTL GROUP INC	$16,418,903	-4.3%	270,939	-9.1%	1.90%	-15.1%
	Buy	WARNER BROS DISCOVERY INC	$14,146,681	+0.6%	1,302,641	+16.2%	1.64%	-10.8%
D	New	DOMINION ENERGY INC	$11,543,979	–	258,428	–	1.34%	–
SF	New	STIFEL FINL CORP	$8,312,218	–	135,290	–	0.96%	–
DXC	Sell	DXC TECHNOLOGY CO	$6,455,654	-61.7%	309,921	-50.9%	0.75%	-66.0%
JNJ	Sell	JOHNSON & JOHNSON	$2,216,946	-12.0%	14,234	-6.5%	0.26%	-22.1%
BIV	Sell	VANGUARD BD INDEX FDSintermed term	$1,038,661	-6.1%	14,364	-2.3%	0.12%	-16.6%
AAPL	Sell	APPLE INC	$1,004,489	-13.7%	5,867	-2.2%	0.12%	-23.0%
VMW	Buy	VMWARE INC	$451,827	+16.1%	2,714	+0.2%	0.05%	+2.0%
	Sell	APOLLO GLOBAL MGMT INC	$412,357	+16.6%	4,594	-0.2%	0.05%	+4.3%
RPV	Buy	INVESCO EXCHANGE TRADED FD Ts&p500 pur val	$335,525	+0.6%	4,560	+6.0%	0.04%	-11.4%
AAP	Exit	ADVANCE AUTO PARTS INC	$0	–	-103,249	–	-0.95%	–
CNHI	Exit	CNH INDL N V	$0	–	-555,619	–	-1.05%	–

Q2 2023

			Value		Shares		↓ Weighting
ABC	New	AMERISOURCEBERGEN CORP	$37,305,057	–	193,863	–	4.88%	–
EQH	New	EQUITABLE HLDGS INC	$35,256,233	–	1,298,094	–	4.61%	–
PM	New	PHILIP MORRIS INTL INC	$34,660,567	–	355,056	–	4.54%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$34,574,229	–	258,383	–	4.52%	–
MRK	New	MERCK & CO INC	$33,925,352	–	294,006	–	4.44%	–
INTC	New	INTEL CORP	$33,674,481	–	1,007,012	–	4.41%	–
UTHR	New	UNITED THERAPEUTICS CORP DEL	$32,629,058	–	147,810	–	4.27%	–
NFG	New	NATIONAL FUEL GAS CO	$31,421,740	–	611,794	–	4.11%	–
DOW	New	DOW INC	$31,405,558	–	589,665	–	4.11%	–
CVS	New	CVS HEALTH CORP	$31,032,595	–	448,902	–	4.06%	–
DLTR	New	DOLLAR TREE INC	$30,867,855	–	215,107	–	4.04%	–
CVX	New	CHEVRON CORP NEW	$30,766,016	–	195,526	–	4.03%	–
WFC	New	WELLS FARGO CO NEW	$30,333,743	–	710,725	–	3.97%	–
TSN	New	TYSON FOODS INCcl a	$29,905,561	–	585,924	–	3.91%	–
ALL	New	ALLSTATE CORP	$28,477,432	–	261,165	–	3.73%	–
T	New	AT&T INC	$26,860,167	–	1,684,023	–	3.52%	–
FDX	New	FEDEX CORP	$25,442,721	–	102,633	–	3.33%	–
LVS	New	LAS VEGAS SANDS CORP	$25,220,024	–	434,828	–	3.30%	–
FIS	New	FIDELITY NATL INFORMATION SV	$23,684,881	–	432,996	–	3.10%	–
C	New	CITIGROUP INC	$23,315,162	–	506,411	–	3.05%	–
OSK	New	OSHKOSH CORP	$17,760,648	–	205,112	–	2.32%	–
AIG	New	AMERICAN INTL GROUP INC	$17,153,997	–	298,123	–	2.24%	–
ALLY	New	ALLY FINL INC	$17,024,997	–	630,322	–	2.23%	–
DXC	New	DXC TECHNOLOGY CO	$16,859,385	–	630,965	–	2.21%	–
TPR	New	TAPESTRY INC	$16,587,140	–	387,550	–	2.17%	–
MUR	New	MURPHY OIL CORP	$15,277,870	–	398,900	–	2.00%	–
	New	WARNER BROS DISCOVERY INC	$14,062,231	–	1,121,390	–	1.84%	–
CNHI	New	CNH INDL N V	$8,000,914	–	555,619	–	1.05%	–
AAP	New	ADVANCE AUTO PARTS INC	$7,258,405	–	103,249	–	0.95%	–
PG	New	PROCTER AND GAMBLE CO	$3,870,584	–	25,508	–	0.51%	–
JNJ	New	JOHNSON & JOHNSON	$2,520,208	–	15,226	–	0.33%	–
ABBV	New	ABBVIE INC	$1,987,268	–	14,750	–	0.26%	–
EMR	New	EMERSON ELEC CO	$1,627,472	–	18,005	–	0.21%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$1,534,097	–	23,989	–	0.20%	–
ABT	New	ABBOTT LABS	$1,498,153	–	13,742	–	0.20%	–
MMM	New	3M CO	$1,312,180	–	13,110	–	0.17%	–
AAPL	New	APPLE INC	$1,163,820	–	6,000	–	0.15%	–
PEP	New	PEPSICO INC	$1,132,620	–	6,115	–	0.15%	–
BIV	New	VANGUARD BD INDEX FDSintermed term	$1,105,806	–	14,699	–	0.14%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$822,284	–	1,855	–	0.11%	–
IWM	New	ISHARES TRrussell 2000 etf	$757,133	–	4,043	–	0.10%	–
ORCL	New	ORACLE CORP	$736,929	–	6,188	–	0.10%	–
MSFT	New	MICROSOFT CORP	$655,199	–	1,924	–	0.09%	–
VCSH	New	VANGUARD SCOTTSDALE FDSshrt trm corp bd	$467,352	–	6,177	–	0.06%	–
VMW	New	VMWARE INC	$389,256	–	2,709	–	0.05%	–
	New	APOLLO GLOBAL MGMT INC	$353,710	–	4,605	–	0.05%	–
RPV	New	INVESCO EXCHANGE TRADED FD Ts&p500 pur val	$333,465	–	4,300	–	0.04%	–
COST	New	COSTCO WHSL CORP NEW	$269,190	–	500	–	0.04%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$261,044	–	6,417	–	0.03%	–
	New	T ROWE PRICE ETF INCus high yield	$244,903	–	4,825	–	0.03%	–
ET	New	ENERGY TRANSFER L P	$240,665	–	18,950	–	0.03%	–
PFD	New	FLAHERTY & CRUMRINE PFD INCO	$152,091	–	15,425	–	0.02%	–

Q4 2022

			Value		Shares		↓ Weighting
ET	Exit	ENERGY TRANSFER L P	$0	–	-10,300	–	-0.02%	–
	Exit	APOLLO GLOBAL MGMT INC	$0	–	-4,658	–	-0.03%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-500	–	-0.03%	–
FHN	Exit	FIRST HORIZON CORPORATION	$0	–	-10,910	–	-0.03%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-6,819	–	-0.03%	–
VMW	Exit	VMWARE INC	$0	–	-2,734	–	-0.04%	–
ANTM	Exit	ELEVANCE HEALTH INC	$0	–	-645	–	-0.04%	–
ORCL	Exit	ORACLE CORP	$0	–	-6,438	–	-0.05%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-2,222	–	-0.07%	–
BIV	Exit	VANGUARD BD INDEX FDSintermed term	$0	–	-8,632	–	-0.08%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-3,963	–	-0.08%	–
RPV	Exit	INVESCO EXCHANGE TRADED FD Ts&p500 pur val	$0	–	-10,575	–	-0.09%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-2,125	–	-0.10%	–
PEP	Exit	PEPSICO INC	$0	–	-6,172	–	-0.13%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-18,005	–	-0.17%	–
ABT	Exit	ABBOTT LABS	$0	–	-13,847	–	-0.17%	–
MMM	Exit	3M CO	$0	–	-13,110	–	-0.18%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-23,989	–	-0.22%	–
AAPL	Exit	APPLE INC	$0	–	-12,776	–	-0.22%	–
ABBV	Exit	ABBVIE INC	$0	–	-14,750	–	-0.25%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-15,226	–	-0.32%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-25,508	–	-0.41%	–
	Exit	WARNER BROS DISCOVERY INC	$0	–	-689,069	–	-1.01%	–
MLHR	Exit	MILLERKNOLL INC	$0	–	-586,971	–	-1.17%	–
NWL	Exit	NEWELL BRANDS INC	$0	–	-958,904	–	-1.70%	–
CNHI	Exit	CNH INDL N V	$0	–	-1,244,530	–	-1.77%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-708,739	–	-2.21%	–
TPR	Exit	TAPESTRY INC	$0	–	-647,559	–	-2.35%	–
FDX	Exit	FEDEX CORP	$0	–	-135,917	–	-2.57%	–
CW	Exit	CURTISS WRIGHT CORP	$0	–	-145,640	–	-2.58%	–
ALLY	Exit	ALLY FINL INC	$0	–	-800,650	–	-2.84%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-272,754	–	-2.89%	–
C	Exit	CITIGROUP INC	$0	–	-565,029	–	-3.00%	–
AAP	Exit	ADVANCE AUTO PARTS INC	$0	–	-154,329	–	-3.08%	–
MUR	Exit	MURPHY OIL CORP	$0	–	-709,607	–	-3.18%	–
CAG	Exit	CONAGRA BRANDS INC	$0	–	-773,477	–	-3.22%	–
LVS	Exit	LAS VEGAS SANDS CORP	$0	–	-693,066	–	-3.32%	–
PRGO	Exit	PERRIGO CO PLC	$0	–	-730,729	–	-3.32%	–
T	Exit	AT&T INC	$0	–	-2,042,248	–	-3.99%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-664,390	–	-4.02%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-272,897	–	-4.13%	–
DLTR	Exit	DOLLAR TREE INC	$0	–	-238,317	–	-4.14%	–
MRK	Exit	MERCK & CO INC	$0	–	-384,538	–	-4.22%	–
EQH	Exit	EQUITABLE HLDGS INC	$0	–	-1,271,809	–	-4.27%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-360,031	–	-4.38%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-862,686	–	-4.42%	–
NFG	Exit	NATIONAL FUEL GAS CO	$0	–	-567,607	–	-4.45%	–
UTHR	Exit	UNITED THERAPEUTICS CORP DEL	$0	–	-168,059	–	-4.49%	–
ALL	Exit	ALLSTATE CORP	$0	–	-294,098	–	-4.67%	–
ABC	Exit	AMERISOURCEBERGEN CORP	$0	–	-280,100	–	-4.83%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-274,471	–	-5.03%	–

Q3 2022

			Value		Shares		↓ Weighting
CVX	Buy	CHEVRON CORP NEW	$39,433,000	-0.7%	274,471	+0.1%	5.03%	+10.3%
ABC	Sell	AMERISOURCEBERGEN CORP	$37,906,000	-4.7%	280,100	-0.4%	4.83%	+5.8%
ALL	Sell	ALLSTATE CORP	$36,624,000	-1.9%	294,098	-0.2%	4.67%	+9.0%
UTHR	Buy	UNITED THERAPEUTICS CORP DEL	$35,188,000	-11.1%	168,059	+0.1%	4.49%	-1.2%
NFG	Sell	NATIONAL FUEL GAS CO	$34,936,000	-7.1%	567,607	-0.3%	4.45%	+3.2%
WFC	Buy	WELLS FARGO CO NEW	$34,697,000	+2.7%	862,686	+0.1%	4.42%	+14.1%
CVS	Buy	CVS HEALTH CORP	$34,336,000	+3.0%	360,031	+0.1%	4.38%	+14.4%
EQH	Buy	EQUITABLE HLDGS INC	$33,512,000	+1.1%	1,271,809	+0.1%	4.27%	+12.3%
MRK	Buy	MERCK & CO INC	$33,116,000	+0.4%	384,538	+6.3%	4.22%	+11.5%
DLTR	Buy	DOLLAR TREE INC	$32,435,000	-12.6%	238,317	+0.1%	4.14%	-2.9%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$32,423,000	-8.2%	272,897	+9.1%	4.13%	+2.0%
AIG	Sell	AMERICAN INTL GROUP INC	$31,545,000	-7.2%	664,390	-0.1%	4.02%	+3.0%
T	Buy	AT&T INC	$31,328,000	-17.9%	2,042,248	+12.2%	3.99%	-8.8%
PRGO	Buy	PERRIGO CO PLC	$26,058,000	-12.0%	730,729	+0.1%	3.32%	-2.3%
LVS	Sell	LAS VEGAS SANDS CORP	$26,004,000	-5.9%	693,066	-15.8%	3.32%	+4.5%
CAG	Buy	CONAGRA BRANDS INC	$25,239,000	+4.8%	773,477	+9.9%	3.22%	+16.3%
MUR	Buy	MURPHY OIL CORP	$24,957,000	+21.6%	709,607	+4.4%	3.18%	+35.0%
AAP	Buy	ADVANCE AUTO PARTS INC	$24,128,000	-9.6%	154,329	+0.1%	3.08%	+0.4%
C	Buy	CITIGROUP INC	$23,545,000	+36.8%	565,029	+50.9%	3.00%	+51.9%
PM	Buy	PHILIP MORRIS INTL INC	$22,641,000	+12.1%	272,754	+33.4%	2.89%	+24.5%
ALLY	Buy	ALLY FINL INC	$22,282,000	-15.2%	800,650	+2.1%	2.84%	-5.9%
CW	Sell	CURTISS WRIGHT CORP	$20,267,000	+5.1%	145,640	-0.3%	2.58%	+16.7%
FDX	Buy	FEDEX CORP	$20,180,000	-24.0%	135,917	+16.0%	2.57%	-15.6%
TPR	Buy	TAPESTRY INC	$18,410,000	+4.5%	647,559	+12.2%	2.35%	+16.1%
DXC	Sell	DXC TECHNOLOGY CO	$17,350,000	-28.0%	708,739	-10.9%	2.21%	-20.1%
CNHI	Buy	CNH INDL N V	$13,901,000	-3.6%	1,244,530	+0.1%	1.77%	+7.1%
NWL	Buy	NEWELL BRANDS INC	$13,319,000	-27.0%	958,904	+0.1%	1.70%	-18.9%
MLHR	Sell	MILLERKNOLL INC	$9,157,000	-46.9%	586,971	-10.5%	1.17%	-41.0%
	Buy	WARNER BROS DISCOVERY INC	$7,924,000	-3.8%	689,069	+12.3%	1.01%	+6.9%
JNJ	Buy	JOHNSON & JOHNSON	$2,487,000	-3.6%	15,226	+4.8%	0.32%	+7.1%
ABBV	Sell	ABBVIE INC	$1,980,000	-15.0%	14,750	-3.1%	0.25%	-5.6%
AAPL	Sell	APPLE INC	$1,766,000	-4.1%	12,776	-5.2%	0.22%	+6.6%
SPY	Buy	SPDR S&P 500 ETF TRtr unit	$759,000	-4.8%	2,125	+0.6%	0.10%	+6.6%
RPV	Sell	INVESCO EXCHANGE TRADED FD Ts&p500 pur val	$739,000	-9.9%	10,575	-3.2%	0.09%	0.0%
IWM	Buy	ISHARES TRrussell 2000 etf	$654,000	+4.5%	3,963	+7.2%	0.08%	+15.3%
BIV	Buy	VANGUARD BD INDEX FDSintermed term	$634,000	-0.6%	8,632	+5.1%	0.08%	+11.0%
VMW	Buy	VMWARE INC	$291,000	-6.7%	2,734	+0.0%	0.04%	+2.8%
ANTM	Sell	ELEVANCE HEALTH INC	$293,000	-29.4%	645	-25.0%	0.04%	-22.9%
	Sell	APOLLO GLOBAL MGMT INC	$217,000	-4.4%	4,658	-0.6%	0.03%	+7.7%
ET	New	ENERGY TRANSFER L P	$114,000	–	10,300	–	0.02%	–
GSK	Exit	GSK PLCsponsored adr	$0	–	-5,822	–	-0.03%	–
LNC	Exit	LINCOLN NATL CORP IND	$0	–	-193,306	–	-1.04%	–
OGN	Exit	ORGANON & CO	$0	–	-848,325	–	-3.29%	–

Q2 2022

			Value		Shares		↓ Weighting
ABC	New	AMERISOURCEBERGEN CORP	$39,773,000	–	281,120	–	4.56%	–
CVX	New	CHEVRON CORP NEW	$39,714,000	–	274,304	–	4.56%	–
UTHR	New	UNITED THERAPEUTICS CORP DEL	$39,567,000	–	167,914	–	4.54%	–
T	New	AT&T INC	$38,156,000	–	1,820,432	–	4.38%	–
NFG	New	NATIONAL FUEL GAS CO	$37,601,000	–	569,287	–	4.32%	–
ALL	New	ALLSTATE CORP	$37,327,000	–	294,542	–	4.28%	–
DLTR	New	DOLLAR TREE INC	$37,105,000	–	238,084	–	4.26%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$35,310,000	–	250,089	–	4.05%	–
AIG	New	AMERICAN INTL GROUP INC	$33,999,000	–	664,955	–	3.90%	–
WFC	New	WELLS FARGO CO NEW	$33,771,000	–	862,161	–	3.88%	–
CVS	New	CVS HEALTH CORP	$33,339,000	–	359,802	–	3.83%	–
EQH	New	EQUITABLE HLDGS INC	$33,133,000	–	1,270,936	–	3.80%	–
MRK	New	MERCK & CO INC	$32,973,000	–	361,669	–	3.78%	–
PRGO	New	PERRIGO CO PLC	$29,619,000	–	730,062	–	3.40%	–
OGN	New	ORGANON & CO	$28,631,000	–	848,325	–	3.29%	–
LVS	New	LAS VEGAS SANDS CORP	$27,635,000	–	822,728	–	3.17%	–
AAP	New	ADVANCE AUTO PARTS INC	$26,685,000	–	154,169	–	3.06%	–
FDX	New	FEDEX CORP	$26,566,000	–	117,181	–	3.05%	–
ALLY	New	ALLY FINL INC	$26,284,000	–	784,366	–	3.02%	–
DXC	New	DXC TECHNOLOGY CO	$24,113,000	–	795,534	–	2.77%	–
CAG	New	CONAGRA BRANDS INC	$24,093,000	–	703,649	–	2.77%	–
MUR	New	MURPHY OIL CORP	$20,529,000	–	679,988	–	2.36%	–
PM	New	PHILIP MORRIS INTL INC	$20,194,000	–	204,515	–	2.32%	–
CW	New	CURTISS WRIGHT CORP	$19,287,000	–	146,047	–	2.21%	–
NWL	New	NEWELL BRANDS INC	$18,233,000	–	957,594	–	2.09%	–
TPR	New	TAPESTRY INC	$17,616,000	–	577,189	–	2.02%	–
MLHR	New	MILLERKNOLL INC	$17,230,000	–	655,873	–	1.98%	–
C	New	CITIGROUP INC	$17,217,000	–	374,371	–	1.98%	–
CNHI	New	CNH INDL N V	$14,415,000	–	1,243,746	–	1.66%	–
LNC	New	LINCOLN NATL CORP IND	$9,041,000	–	193,306	–	1.04%	–
	New	WARNER BROS DISCOVERY INC	$8,237,000	–	613,786	–	0.94%	–
PG	New	PROCTER AND GAMBLE CO	$3,668,000	–	25,508	–	0.42%	–
JNJ	New	JOHNSON & JOHNSON	$2,580,000	–	14,533	–	0.30%	–
ABBV	New	ABBVIE INC	$2,330,000	–	15,215	–	0.27%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$1,847,000	–	23,989	–	0.21%	–
AAPL	New	APPLE INC	$1,842,000	–	13,476	–	0.21%	–
MMM	New	3M CO	$1,697,000	–	13,110	–	0.20%	–
ABT	New	ABBOTT LABS	$1,504,000	–	13,847	–	0.17%	–
EMR	New	EMERSON ELEC CO	$1,432,000	–	18,005	–	0.16%	–
PEP	New	PEPSICO INC	$1,029,000	–	6,172	–	0.12%	–
RPV	New	INVESCO EXCHANGE TRADED FD Ts&p500 pur val	$820,000	–	10,925	–	0.09%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$797,000	–	2,112	–	0.09%	–
BIV	New	VANGUARD BD INDEX FDSintermed term	$638,000	–	8,212	–	0.07%	–
IWM	New	ISHARES TRrussell 2000 etf	$626,000	–	3,697	–	0.07%	–
MSFT	New	MICROSOFT CORP	$571,000	–	2,222	–	0.07%	–
ORCL	New	ORACLE CORP	$450,000	–	6,438	–	0.05%	–
ANTM	New	ELEVANCE HEALTH INC	$415,000	–	860	–	0.05%	–
VMW	New	VMWARE INC	$312,000	–	2,733	–	0.04%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$284,000	–	6,819	–	0.03%	–
GSK	New	GSK PLCsponsored adr	$253,000	–	5,822	–	0.03%	–
COST	New	COSTCO WHSL CORP NEW	$240,000	–	500	–	0.03%	–
FHN	New	FIRST HORIZON CORPORATION	$238,000	–	10,910	–	0.03%	–
	New	APOLLO GLOBAL MGMT INC	$227,000	–	4,686	–	0.03%	–

Q4 2021

			Value		Shares		↓ Weighting
MLHR	Exit	MILLER HERMAN INC	$0	–	-486,274	–	0.00%	–
GLT	Exit	GLATFELTER CORPORATION	$0	–	-10,062	–	-0.02%	–
AVD	Exit	AMERICAN VANGUARD CORP	$0	–	-10,136	–	-0.02%	–
FTDR	Exit	FRONTDOOR INC	$0	–	-4,803	–	-0.02%	–
HVT	Exit	HAVERTY FURNITURE COS INC	$0	–	-6,452	–	-0.02%	–
ALG	Exit	ALAMO GROUP INC	$0	–	-1,577	–	-0.02%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-500	–	-0.02%	–
IOSP	Exit	INNOSPEC INC	$0	–	-2,677	–	-0.02%	–
BAC	Exit	BK OF AMERICA CORP	$0	–	-5,380	–	-0.02%	–
MGRC	Exit	MCGRATH RENTCORP	$0	–	-3,406	–	-0.02%	–
MRTN	Exit	MARTEN TRANS LTD	$0	–	-16,987	–	-0.03%	–
LIVN	Exit	LIVANOVA PLC	$0	–	-3,481	–	-0.03%	–
HOFT	Exit	HOOKER FURNISHINGS CORPORATI	$0	–	-10,277	–	-0.03%	–
WHD	Exit	CACTUS INCcl a	$0	–	-7,294	–	-0.03%	–
PWR	Exit	QUANTA SVCS INC	$0	–	-2,466	–	-0.03%	–
NP	Exit	NEENAH INC	$0	–	-6,411	–	-0.03%	–
KALU	Exit	KAISER ALUMINUM CORP	$0	–	-2,731	–	-0.03%	–
TGLS	Exit	TECNOGLASS INC	$0	–	-14,111	–	-0.03%	–
JBSS	Exit	SANFILIPPO JOHN B & SON INC	$0	–	-3,859	–	-0.03%	–
CTS	Exit	CTS CORP	$0	–	-10,510	–	-0.03%	–
VPG	Exit	VISHAY PRECISION GROUP INC	$0	–	-9,684	–	-0.04%	–
ANTM	Exit	ANTHEM INC	$0	–	-909	–	-0.04%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-8,916	–	-0.04%	–
PACW	Exit	PACWEST BANCORP DEL	$0	–	-7,722	–	-0.04%	–
MTRN	Exit	MATERION CORP	$0	–	-5,271	–	-0.04%	–
ACA	Exit	ARCOSA INC	$0	–	-7,211	–	-0.04%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-7,344	–	-0.04%	–
MEI	Exit	METHODE ELECTRS INC	$0	–	-9,098	–	-0.04%	–
FANG	Exit	DIAMONDBACK ENERGY INC	$0	–	-4,061	–	-0.04%	–
NTB	Exit	BANK OF NT BUTTERFIELD&SON L	$0	–	-11,058	–	-0.04%	–
AEIS	Exit	ADVANCED ENERGY INDS	$0	–	-4,778	–	-0.04%	–
CMC	Exit	COMMERCIAL METALS CO	$0	–	-13,722	–	-0.04%	–
CHK	Exit	CHESAPEAKE ENERGY CORP	$0	–	-6,767	–	-0.04%	–
RPT	Exit	RPT REALTYsh ben int	$0	–	-34,435	–	-0.04%	–
ENS	Exit	ENERSYS	$0	–	-6,196	–	-0.05%	–
WAL	Exit	WESTERN ALLIANCE BANCORP	$0	–	-4,205	–	-0.05%	–
FHN	Exit	FIRST HORIZON CORPORATION	$0	–	-28,575	–	-0.05%	–
TCBI	Exit	TEXAS CAP BANCSHARES INC	$0	–	-7,719	–	-0.05%	–
BKU	Exit	BANKUNITED INC	$0	–	-11,452	–	-0.05%	–
NVT	Exit	NVENT ELECTRIC PLC	$0	–	-15,167	–	-0.05%	–
ABCB	Exit	AMERIS BANCORP	$0	–	-9,947	–	-0.05%	–
GPX	Exit	GP STRATEGIES CORP	$0	–	-26,612	–	-0.06%	–
ORCL	Exit	ORACLE CORP	$0	–	-6,438	–	-0.06%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-2,054	–	-0.06%	–
RPV	Exit	INVESCO EXCHANGE TRADED FD Ts&p500 pur val	$0	–	-8,375	–	-0.06%	–
BIV	Exit	VANGUARD BD INDEX FDSintermed term	$0	–	-8,212	–	-0.08%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-3,472	–	-0.08%	–
PEP	Exit	PEPSICO INC	$0	–	-5,860	–	-0.09%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-2,112	–	-0.09%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-23,989	–	-0.15%	–
ABBV	Exit	ABBVIE INC	$0	–	-14,750	–	-0.16%	–
ABT	Exit	ABBOTT LABS	$0	–	-13,520	–	-0.16%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-18,005	–	-0.17%	–
MMM	Exit	3M CO	$0	–	-13,195	–	-0.24%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-14,521	–	-0.24%	–
AAPL	Exit	APPLE INC	$0	–	-16,892	–	-0.24%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-25,444	–	-0.36%	–
RS	Exit	RELIANCE STEEL & ALUMINUM CO	$0	–	-119,045	–	-1.74%	–
NUE	Exit	NUCOR CORP	$0	–	-172,405	–	-1.74%	–
LVS	Exit	LAS VEGAS SANDS CORP	$0	–	-527,539	–	-1.98%	–
CW	Exit	CURTISS WRIGHT CORP	$0	–	-166,509	–	-2.16%	–
DLTR	Exit	DOLLAR TREE INC	$0	–	-219,758	–	-2.16%	–
LNC	Exit	LINCOLN NATL CORP IND	$0	–	-325,049	–	-2.30%	–
NWL	Exit	NEWELL BRANDS INC	$0	–	-1,134,990	–	-2.58%	–
TPR	Exit	TAPESTRY INC	$0	–	-705,704	–	-2.68%	–
MRK	Exit	MERCK & CO INC	$0	–	-407,398	–	-3.14%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-222,925	–	-3.18%	–
OGN	Exit	ORGANON & CO	$0	–	-950,131	–	-3.20%	–
CAG	Exit	CONAGRA BRANDS INC	$0	–	-921,678	–	-3.20%	–
UTHR	Exit	UNITED THERAPEUTICS CORP DEL	$0	–	-172,853	–	-3.28%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-1,003,518	–	-3.46%	–
C	Exit	CITIGROUP INC	$0	–	-517,734	–	-3.73%	–
CNHI	Exit	CNH INDL N V	$0	–	-2,224,646	–	-3.79%	–
T	Exit	AT&T INC	$0	–	-1,419,853	–	-3.94%	–
ALL	Exit	ALLSTATE CORP	$0	–	-302,987	–	-3.96%	–
ABC	Exit	AMERISOURCEBERGEN CORP	$0	–	-332,293	–	-4.08%	–
NFG	Exit	NATIONAL FUEL GAS CO	$0	–	-769,949	–	-4.15%	–
EQH	Exit	EQUITABLE HLDGS INC	$0	–	-1,377,305	–	-4.19%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-404,248	–	-4.21%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-488,891	–	-4.26%	–
MUR	Exit	MURPHY OIL CORP	$0	–	-1,731,197	–	-4.44%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-795,590	–	-4.48%	–
AAP	Exit	ADVANCE AUTO PARTS INC	$0	–	-215,812	–	-4.63%	–
ALLY	Exit	ALLY FINL INC	$0	–	-890,996	–	-4.67%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-1,042,602	–	-4.97%	–

Q3 2021

			Value		Shares		↓ Weighting
WFC	Sell	WELLS FARGO CO NEW	$48,387,000	-0.4%	1,042,602	-2.8%	4.97%	+4.1%
ALLY	Sell	ALLY FINL INC	$45,485,000	-0.9%	890,996	-3.3%	4.67%	+3.6%
AAP	Sell	ADVANCE AUTO PARTS INC	$45,081,000	-1.8%	215,812	-3.6%	4.63%	+2.6%
AIG	Sell	AMERICAN INTL GROUP INC	$43,670,000	+11.5%	795,590	-3.3%	4.48%	+16.6%
MUR	Sell	MURPHY OIL CORP	$43,228,000	-1.0%	1,731,197	-7.7%	4.44%	+3.5%
CVS	Sell	CVS HEALTH CORP	$41,487,000	-2.5%	488,891	-4.2%	4.26%	+1.9%
CVX	Buy	CHEVRON CORP NEW	$41,011,000	-2.9%	404,248	+0.2%	4.21%	+1.4%
EQH	Sell	EQUITABLE HLDGS INC	$40,823,000	-5.3%	1,377,305	-2.7%	4.19%	-1.0%
NFG	Sell	NATIONAL FUEL GAS CO	$40,438,000	-2.0%	769,949	-2.6%	4.15%	+2.4%
ABC	Sell	AMERISOURCEBERGEN CORP	$39,692,000	+0.7%	332,293	-3.5%	4.08%	+5.2%
ALL	Sell	ALLSTATE CORP	$38,573,000	-4.7%	302,987	-2.4%	3.96%	-0.4%
T	Buy	AT&T INC	$38,350,000	+2.5%	1,419,853	+9.2%	3.94%	+7.1%
CNHI	Sell	CNH INDL N V	$36,951,000	-4.1%	2,224,646	-3.5%	3.79%	+0.2%
C	Sell	CITIGROUP INC	$36,335,000	-3.1%	517,734	-2.3%	3.73%	+1.2%
DXC	Sell	DXC TECHNOLOGY CO	$33,728,000	-16.9%	1,003,518	-3.7%	3.46%	-13.1%
UTHR	Sell	UNITED THERAPEUTICS CORP DEL	$31,905,000	+0.4%	172,853	-2.4%	3.28%	+4.9%
CAG	Buy	CONAGRA BRANDS INC	$31,217,000	+6.1%	921,678	+13.9%	3.20%	+10.9%
OGN	Buy	ORGANON & CO	$31,155,000	+200.6%	950,131	+177.4%	3.20%	+214.2%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$30,971,000	-7.5%	222,925	-2.4%	3.18%	-3.3%
MRK	Sell	MERCK & CO INC	$30,600,000	-6.0%	407,398	-2.7%	3.14%	-1.8%
TPR	Sell	TAPESTRY INC	$26,125,000	-17.0%	705,704	-2.6%	2.68%	-13.3%
NWL	Sell	NEWELL BRANDS INC	$25,129,000	-21.7%	1,134,990	-2.8%	2.58%	-18.1%
LNC	Sell	LINCOLN NATL CORP IND	$22,347,000	+6.2%	325,049	-2.9%	2.30%	+11.1%
DLTR	New	DOLLAR TREE INC	$21,035,000	–	219,758	–	2.16%	–
CW	Buy	CURTISS WRIGHT CORP	$21,010,000	+133.2%	166,509	+119.4%	2.16%	+143.7%
LVS	New	LAS VEGAS SANDS CORP	$19,308,000	–	527,539	–	1.98%	–
NUE	Sell	NUCOR CORP	$16,980,000	-54.0%	172,405	-55.2%	1.74%	-51.9%
RS	Sell	RELIANCE STEEL & ALUMINUM CO	$16,954,000	-7.7%	119,045	-2.2%	1.74%	-3.5%
BIV	Buy	VANGUARD BD INDEX FDSintermed term	$734,000	+7.3%	8,212	+8.0%	0.08%	+11.9%
GPX	Buy	GP STRATEGIES CORP	$551,000	+38.1%	26,612	+4.9%	0.06%	+46.2%
ENS	Buy	ENERSYS	$461,000	-12.9%	6,196	+14.5%	0.05%	-9.6%
FANG	Buy	DIAMONDBACK ENERGY INC	$384,000	+2.1%	4,061	+1.5%	0.04%	+5.4%
ANTM	Sell	ANTHEM INC	$339,000	-49.2%	909	-48.0%	0.04%	-47.0%
CTS	Sell	CTS CORP	$325,000	-20.5%	10,510	-4.6%	0.03%	-17.5%
JBSS	Buy	SANFILIPPO JOHN B & SON INC	$315,000	+52.9%	3,859	+66.3%	0.03%	+60.0%
PWR	Sell	QUANTA SVCS INC	$281,000	+3.7%	2,466	-17.7%	0.03%	+7.4%
COST	New	COSTCO WHSL CORP NEW	$225,000	–	500	–	0.02%	–
FTDR	Buy	FRONTDOOR INC	$201,000	-14.1%	4,803	+2.3%	0.02%	-8.7%
MLHR	New	MILLER HERMAN INC	$0	–	486,274	–	0.00%	–
LNDC	Exit	LANDEC CORP	$0	–	-18,520	–	-0.02%	–
SRI	Exit	STONERIDGE INC	$0	–	-9,334	–	-0.03%	–
BRX	Exit	BRIXMOR PPTY GROUP INC	$0	–	-472,822	–	-1.06%	–
SYY	Exit	SYSCO CORP	$0	–	-183,597	–	-1.40%	–
LLY	Exit	LILLY ELI & CO	$0	–	-89,223	–	-2.01%	–
LUMN	Exit	LUMEN TECHNOLOGIES INC	$0	–	-1,637,682	–	-2.19%	–

Q2 2021

			Value		Shares		↓ Weighting
WFC	New	WELLS FARGO CO NEW	$48,563,000	–	1,072,273	–	4.77%	–
AAP	New	ADVANCE AUTO PARTS INC	$45,929,000	–	223,889	–	4.51%	–
ALLY	New	ALLY FINL INC	$45,899,000	–	920,929	–	4.51%	–
MUR	New	MURPHY OIL CORP	$43,656,000	–	1,875,260	–	4.29%	–
EQH	New	EQUITABLE HLDGS INC	$43,100,000	–	1,415,423	–	4.23%	–
CVS	New	CVS HEALTH CORP	$42,562,000	–	510,096	–	4.18%	–
CVX	New	CHEVRON CORP NEW	$42,254,000	–	403,415	–	4.15%	–
NFG	New	NATIONAL FUEL GAS CO	$41,284,000	–	790,121	–	4.06%	–
DXC	New	DXC TECHNOLOGY CO	$40,588,000	–	1,042,321	–	3.99%	–
ALL	New	ALLSTATE CORP	$40,493,000	–	310,435	–	3.98%	–
ABC	New	AMERISOURCEBERGEN CORP	$39,434,000	–	344,436	–	3.87%	–
AIG	New	AMERICAN INTL GROUP INC	$39,149,000	–	822,457	–	3.85%	–
CNHI	New	CNH INDL N V	$38,531,000	–	2,304,496	–	3.78%	–
C	New	CITIGROUP INC	$37,507,000	–	530,131	–	3.68%	–
T	New	AT&T INC	$37,426,000	–	1,300,422	–	3.68%	–
NUE	New	NUCOR CORP	$36,893,000	–	384,581	–	3.62%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$33,469,000	–	228,320	–	3.29%	–
MRK	New	MERCK & CO INC	$32,564,000	–	418,727	–	3.20%	–
NWL	New	NEWELL BRANDS INC	$32,077,000	–	1,167,704	–	3.15%	–
UTHR	New	UNITED THERAPEUTICS CORP DEL	$31,781,000	–	177,141	–	3.12%	–
TPR	New	TAPESTRY INC	$31,491,000	–	724,255	–	3.09%	–
CAG	New	CONAGRA BRANDS INC	$29,433,000	–	809,046	–	2.89%	–
LUMN	New	LUMEN TECHNOLOGIES INC	$22,256,000	–	1,637,682	–	2.19%	–
LNC	New	LINCOLN NATL CORP IND	$21,033,000	–	334,714	–	2.07%	–
LLY	New	LILLY ELI & CO	$20,478,000	–	89,223	–	2.01%	–
RS	New	RELIANCE STEEL & ALUMINUM CO	$18,376,000	–	121,774	–	1.80%	–
SYY	New	SYSCO CORP	$14,275,000	–	183,597	–	1.40%	–
BRX	New	BRIXMOR PPTY GROUP INC	$10,823,000	–	472,822	–	1.06%	–
OGN	New	ORGANON & CO	$10,363,000	–	342,478	–	1.02%	–
CW	New	CURTISS WRIGHT CORP	$9,011,000	–	75,879	–	0.88%	–
PG	New	PROCTER AND GAMBLE CO	$3,433,000	–	25,444	–	0.34%	–
MMM	New	3M CO	$2,621,000	–	13,195	–	0.26%	–
JNJ	New	JOHNSON & JOHNSON	$2,392,000	–	14,521	–	0.24%	–
AAPL	New	APPLE INC	$2,314,000	–	16,892	–	0.23%	–
EMR	New	EMERSON ELEC CO	$1,733,000	–	18,005	–	0.17%	–
ABBV	New	ABBVIE INC	$1,661,000	–	14,750	–	0.16%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$1,603,000	–	23,989	–	0.16%	–
ABT	New	ABBOTT LABS	$1,567,000	–	13,520	–	0.15%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$904,000	–	2,112	–	0.09%	–
PEP	New	PEPSICO INC	$868,000	–	5,860	–	0.08%	–
IWM	New	ISHARES TRrussell 2000 etf	$796,000	–	3,472	–	0.08%	–
BIV	New	VANGUARD BD INDEX FDSintermed term	$684,000	–	7,602	–	0.07%	–
ANTM	New	ANTHEM INC	$667,000	–	1,748	–	0.07%	–
RPV	New	INVESCO EXCHANGE TRADED FD Ts&p500 pur val	$646,000	–	8,375	–	0.06%	–
MSFT	New	MICROSOFT CORP	$556,000	–	2,054	–	0.06%	–
AEIS	New	ADVANCED ENERGY INDS	$539,000	–	4,778	–	0.05%	–
ENS	New	ENERSYS	$529,000	–	5,409	–	0.05%	–
ABCB	New	AMERIS BANCORP	$504,000	–	9,947	–	0.05%	–
FHN	New	FIRST HORIZON CORPORATION	$494,000	–	28,575	–	0.05%	–
ORCL	New	ORACLE CORP	$501,000	–	6,438	–	0.05%	–
BKU	New	BANKUNITED INC	$489,000	–	11,452	–	0.05%	–
TCBI	New	TEXAS CAP BANCSHARES INC	$490,000	–	7,719	–	0.05%	–
NVT	New	NVENT ELECTRIC PLC	$474,000	–	15,167	–	0.05%	–
MEI	New	METHODE ELECTRS INC	$448,000	–	9,098	–	0.04%	–
RPT	New	RPT REALTYsh ben int	$447,000	–	34,435	–	0.04%	–
ACA	New	ARCOSA INC	$424,000	–	7,211	–	0.04%	–
CMC	New	COMMERCIAL METALS CO	$422,000	–	13,722	–	0.04%	–
CTS	New	CTS CORP	$409,000	–	11,016	–	0.04%	–
NTB	New	BANK OF NT BUTTERFIELD&SON L	$392,000	–	11,058	–	0.04%	–
GPX	New	GP STRATEGIES CORP	$399,000	–	25,372	–	0.04%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$399,000	–	7,344	–	0.04%	–
MTRN	New	MATERION CORP	$397,000	–	5,271	–	0.04%	–
WAL	New	WESTERN ALLIANCE BANCORP	$390,000	–	4,205	–	0.04%	–
FANG	New	DIAMONDBACK ENERGY INC	$376,000	–	4,001	–	0.04%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$355,000	–	8,916	–	0.04%	–
HOFT	New	HOOKER FURNITURE CORP	$356,000	–	10,277	–	0.04%	–
CHK	New	CHESAPEAKE ENERGY CORP	$351,000	–	6,767	–	0.03%	–
KALU	New	KAISER ALUMINUM CORP	$337,000	–	2,731	–	0.03%	–
NP	New	NEENAH INC	$322,000	–	6,411	–	0.03%	–
VPG	New	VISHAY PRECISION GROUP INC	$330,000	–	9,684	–	0.03%	–
PACW	New	PACWEST BANCORP DEL	$318,000	–	7,722	–	0.03%	–
TGLS	New	TECNOGLASS INC	$302,000	–	14,111	–	0.03%	–
LIVN	New	LIVANOVA PLC	$293,000	–	3,481	–	0.03%	–
MRTN	New	MARTEN TRANS LTD	$280,000	–	16,987	–	0.03%	–
HVT	New	HAVERTY FURNITURE COS INC	$276,000	–	6,452	–	0.03%	–
MGRC	New	MCGRATH RENTCORP	$278,000	–	3,406	–	0.03%	–
PWR	New	QUANTA SVCS INC	$271,000	–	2,997	–	0.03%	–
SRI	New	STONERIDGE INC	$275,000	–	9,334	–	0.03%	–
WHD	New	CACTUS INCcl a	$268,000	–	7,294	–	0.03%	–
IOSP	New	INNOSPEC INC	$243,000	–	2,677	–	0.02%	–
ALG	New	ALAMO GROUP INC	$241,000	–	1,577	–	0.02%	–
FTDR	New	FRONTDOOR INC	$234,000	–	4,696	–	0.02%	–
BAC	New	BK OF AMERICA CORP	$222,000	–	5,380	–	0.02%	–
JBSS	New	SANFILIPPO JOHN B & SON INC	$206,000	–	2,321	–	0.02%	–
LNDC	New	LANDEC CORP	$208,000	–	18,520	–	0.02%	–
AVD	New	AMERICAN VANGUARD CORP	$177,000	–	10,136	–	0.02%	–
GLT	New	GLATFELTER CORPORATION	$141,000	–	10,062	–	0.01%	–

Q4 2020

			Value		Shares		↓ Weighting
RMBS	Exit	RAMBUS INC DEL	$0	–	-11,778	–	-0.02%	–
GPX	Exit	GP STRATEGIES CORP	$0	–	-17,971	–	-0.02%	–
MRTN	Exit	MARTEN TRANS LTD	$0	–	-10,892	–	-0.02%	–
RPT	Exit	RPT REALTYsh ben int	$0	–	-37,766	–	-0.02%	–
VOO	Exit	VANGUARD INDEX FDS	$0	–	-680	–	-0.03%	–
GLT	Exit	GLATFELTER	$0	–	-15,227	–	-0.03%	–
PCH	Exit	POTLATCHDELTIC CORPORATION	$0	–	-5,345	–	-0.03%	–
FHN	Exit	FIRST HORIZON NATL CORP	$0	–	-25,049	–	-0.03%	–
HOFT	Exit	HOOKER FURNITURE CORP	$0	–	-9,386	–	-0.03%	–
LNDC	Exit	LANDEC CORP	$0	–	-25,698	–	-0.03%	–
BMCH	Exit	BMC STK HLDGS INC	$0	–	-6,715	–	-0.04%	–
STAG	Exit	STAG INDL INC	$0	–	-9,747	–	-0.04%	–
PWR	Exit	QUANTA SVCS INC	$0	–	-5,738	–	-0.04%	–
ENS	Exit	ENERSYS	$0	–	-4,573	–	-0.04%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-8,916	–	-0.04%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-9,119	–	-0.05%	–
ORCL	Exit	ORACLE CORP	$0	–	-8,238	–	-0.06%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-3,611	–	-0.07%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-3,644	–	-0.09%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-2,307	–	-0.10%	–
PEP	Exit	PEPSICO INC	$0	–	-5,860	–	-0.10%	–
ANTM	Exit	ANTHEM INC	$0	–	-3,014	–	-0.10%	–
CSCO	Exit	CISCO SYS INC	$0	–	-22,239	–	-0.11%	–
BIV	Exit	VANGUARD BD INDEX FDSintermed term	$0	–	-9,389	–	-0.11%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-18,005	–	-0.14%	–
ABBV	Exit	ABBVIE INC	$0	–	-15,050	–	-0.16%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-23,989	–	-0.18%	–
SIVB	Exit	SVB FINANCIAL GROUP	$0	–	-6,066	–	-0.18%	–
ABT	Exit	ABBOTT LABS	$0	–	-13,820	–	-0.18%	–
AAPL	Exit	APPLE INC	$0	–	-16,892	–	-0.24%	–
MMM	Exit	3M CO	$0	–	-13,895	–	-0.27%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-16,637	–	-0.30%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-27,444	–	-0.47%	–
MUR	Exit	MURPHY OIL CORP	$0	–	-1,443,539	–	-1.58%	–
BAC	Exit	BK OF AMERICA CORP	$0	–	-626,406	–	-1.85%	–
RS	Exit	RELIANCE STEEL & ALUMINUM CO	$0	–	-156,753	–	-1.96%	–
SWK	Exit	STANLEY BLACK & DECKER INC	$0	–	-98,865	–	-1.96%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-909,944	–	-1.99%	–
LNC	Exit	LINCOLN NATL CORP IND	$0	–	-521,715	–	-2.00%	–
BRX	Exit	BRIXMOR PPTY GROUP INC	$0	–	-1,419,723	–	-2.03%	–
NBL	Exit	NOBLE ENERGY INC	$0	–	-1,950,941	–	-2.04%	–
BKR	Exit	BAKER HUGHES COMPANYcl a	$0	–	-1,430,808	–	-2.33%	–
TPR	Exit	TAPESTRY INC	$0	–	-1,228,459	–	-2.35%	–
VIAC	Exit	VIACOMCBS INCcl b	$0	–	-750,401	–	-2.57%	–
CAG	Exit	CONAGRA BRANDS INC	$0	–	-678,268	–	-2.97%	–
KR	Exit	KROGER CO	$0	–	-723,614	–	-3.00%	–
LUMN	Exit	LUMEN TECHNOLOGIES INC	$0	–	-2,466,056	–	-3.05%	–
LLY	Exit	LILLY ELI & CO	$0	–	-169,936	–	-3.08%	–
CNHI	Exit	CNH INDL N V	$0	–	-3,346,675	–	-3.20%	–
NWL	Exit	NEWELL BRANDS INC	$0	–	-1,543,349	–	-3.24%	–
ALLY	Exit	ALLY FINL INC	$0	–	-1,201,260	–	-3.69%	–
SYY	Exit	SYSCO CORP	$0	–	-484,699	–	-3.69%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-1,394,235	–	-4.01%	–
T	Exit	AT&T INC	$0	–	-1,150,264	–	-4.02%	–
ETFC	Exit	E TRADE FINANCIAL CORP	$0	–	-662,819	–	-4.06%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-1,217,876	–	-4.10%	–
NUE	Exit	NUCOR CORP	$0	–	-750,561	–	-4.12%	–
EQH	Exit	EQUITABLE HLDGS INC	$0	–	-1,857,594	–	-4.15%	–
MRK	Exit	MERCK & CO. INC	$0	–	-424,658	–	-4.31%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-609,971	–	-4.36%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-297,524	–	-4.43%	–
ABC	Exit	AMERISOURCEBERGEN CORP	$0	–	-411,621	–	-4.88%	–
AAP	Exit	ADVANCE AUTO PARTS INC	$0	–	-298,268	–	-5.61%	–

Q3 2020

			Value		Shares		↓ Weighting
AAP	Sell	ADVANCE AUTO PARTS INC	$45,784,000	+0.4%	298,268	-6.8%	5.61%	+7.0%
ABC	Sell	AMERISOURCEBERGEN CORP	$39,894,000	-10.0%	411,621	-6.4%	4.88%	-4.0%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$36,200,000	-6.7%	297,524	-7.4%	4.43%	-0.6%
CVS	Sell	CVS HEALTH CORP	$35,622,000	-16.9%	609,971	-7.6%	4.36%	-11.4%
MRK	Sell	MERCK & CO. INC	$35,225,000	+0.3%	424,658	-6.5%	4.31%	+6.9%
EQH	Sell	EQUITABLE HLDGS INC	$33,883,000	-8.8%	1,857,594	-3.5%	4.15%	-2.8%
NUE	Buy	NUCOR CORP	$33,670,000	+88.8%	750,561	+74.3%	4.12%	+101.2%
AIG	Buy	AMERICAN INTL GROUP INC	$33,528,000	+26.2%	1,217,876	+42.9%	4.10%	+34.5%
ETFC	Sell	E TRADE FINANCIAL CORP	$33,174,000	-6.9%	662,819	-7.5%	4.06%	-0.7%
T	Sell	AT&T INC	$32,794,000	-8.4%	1,150,264	-2.9%	4.02%	-2.4%
WFC	Buy	WELLS FARGO CO NEW	$32,778,000	+31.2%	1,394,235	+42.8%	4.01%	+39.8%
SYY	Buy	SYSCO CORP	$30,158,000	+68.0%	484,699	+47.6%	3.69%	+79.1%
ALLY	Buy	ALLY FINL INC	$30,116,000	+47.3%	1,201,260	+16.5%	3.69%	+57.0%
NWL	Sell	NEWELL BRANDS INC	$26,484,000	-1.1%	1,543,349	-8.4%	3.24%	+5.5%
CNHI	Buy	CNH INDL N V	$26,171,000	+35.5%	3,346,675	+21.8%	3.20%	+44.4%
LLY	Sell	LILLY ELI & CO	$25,154,000	-30.0%	169,936	-22.3%	3.08%	-25.4%
LUMN	Sell	LUMEN TECHNOLOGIES INC	$24,883,000	-2.5%	2,466,056	-3.1%	3.05%	+3.9%
KR	Sell	KROGER CO	$24,538,000	-39.0%	723,614	-39.1%	3.00%	-34.9%
CAG	Sell	CONAGRA BRANDS INC	$24,221,000	-31.5%	678,268	-32.5%	2.97%	-27.0%
VIAC	Sell	VIACOMCBS INCcl b	$21,019,000	+7.8%	750,401	-10.2%	2.57%	+15.0%
TPR	Sell	TAPESTRY INC	$19,201,000	+10.1%	1,228,459	-6.4%	2.35%	+17.4%
BKR	Sell	BAKER HUGHES COMPANYcl a	$19,015,000	-19.9%	1,430,808	-7.3%	2.33%	-14.7%
NBL	Sell	NOBLE ENERGY INC	$16,681,000	-12.6%	1,950,941	-8.4%	2.04%	-6.9%
BRX	Buy	BRIXMOR PPTY GROUP INC	$16,597,000	-8.6%	1,419,723	+0.2%	2.03%	-2.6%
LNC	Sell	LINCOLN NATL CORP IND	$16,345,000	-21.9%	521,715	-8.3%	2.00%	-16.7%
DXC	Sell	DXC TECHNOLOGY CO	$16,243,000	+6.3%	909,944	-1.7%	1.99%	+13.3%
SWK	Sell	STANLEY BLACK & DECKER INC	$16,036,000	+1.6%	98,865	-12.7%	1.96%	+8.3%
RS	Sell	RELIANCE STEEL & ALUMINUM CO	$15,995,000	-0.2%	156,753	-7.2%	1.96%	+6.3%
BAC	Sell	BK OF AMERICA CORP	$15,090,000	-39.3%	626,406	-40.2%	1.85%	-35.3%
MUR	Sell	MURPHY OIL CORP	$12,876,000	-40.1%	1,443,539	-7.3%	1.58%	-36.2%
JNJ	Sell	JOHNSON & JOHNSON	$2,477,000	+5.7%	16,637	-0.1%	0.30%	+12.6%
AAPL	Buy	APPLE INC	$1,956,000	+27.8%	16,892	+302.9%	0.24%	+35.8%
SIVB	Sell	SVB FINANCIAL GROUP	$1,460,000	+11.5%	6,066	-0.2%	0.18%	+19.3%
BIV	Buy	VANGUARD BD INDEX FDSintermed term	$878,000	+2.1%	9,389	+1.7%	0.11%	+9.1%
CSCO	Buy	CISCO SYS INC	$876,000	-15.0%	22,239	+0.7%	0.11%	-9.3%
ANTM	Buy	ANTHEM INC	$810,000	+2.3%	3,014	+0.1%	0.10%	+8.8%
ENS	Buy	ENERSYS	$307,000	+50.5%	4,573	+44.2%	0.04%	+65.2%
PWR	Buy	QUANTA SVCS INC	$303,000	+47.8%	5,738	+10.0%	0.04%	+54.2%
STAG	Buy	STAG INDL INC	$297,000	+41.4%	9,747	+36.2%	0.04%	+50.0%
BMCH	New	BMC STK HLDGS INC	$288,000	–	6,715	–	0.04%	–
LNDC	Buy	LANDEC CORP	$250,000	+123.2%	25,698	+82.5%	0.03%	+138.5%
HOFT	New	HOOKER FURNITURE CORP	$242,000	–	9,386	–	0.03%	–
FHN	Buy	FIRST HORIZON NATL CORP	$236,000	+45.7%	25,049	+54.2%	0.03%	+52.6%
PCH	New	POTLATCHDELTIC CORPORATION	$225,000	–	5,345	–	0.03%	–
VOO	New	VANGUARD INDEX FDS	$209,000	–	680	–	0.03%	–
GLT	Buy	GLATFELTER	$210,000	+25.0%	15,227	+45.7%	0.03%	+36.8%
RPT	Buy	RPT REALTYsh ben int	$205,000	+62.7%	37,766	+108.1%	0.02%	+78.6%
MRTN	New	MARTEN TRANS LTD	$178,000	–	10,892	–	0.02%	–
GPX	Buy	GP STRATEGIES CORP	$173,000	+73.0%	17,971	+54.4%	0.02%	+90.9%
RMBS	New	RAMBUS INC DEL	$161,000	–	11,778	–	0.02%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-2,528	–	-0.03%	–
QCOM	Exit	QUALCOMM INC	$0	–	-307,821	–	-3.22%	–

Q2 2020

			Value		Shares		↓ Weighting
AAP	New	ADVANCE AUTO PARTS INC	$45,596,000	–	320,083	–	5.24%	–
ABC	New	AMERISOURCEBERGEN CORP	$44,313,000	–	439,745	–	5.09%	–
CVS	New	CVS HEALTH CORP	$42,878,000	–	659,971	–	4.92%	–
KR	New	KROGER CO	$40,200,000	–	1,187,588	–	4.62%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$38,801,000	–	321,279	–	4.46%	–
EQH	New	EQUITABLE HLDGS INC	$37,151,000	–	1,925,906	–	4.27%	–
LLY	New	LILLY ELI & CO	$35,918,000	–	218,771	–	4.13%	–
T	New	AT&T INC	$35,813,000	–	1,184,692	–	4.11%	–
ETFC	New	E TRADE FINANCIAL CORP	$35,628,000	–	716,419	–	4.09%	–
CAG	New	CONAGRA BRANDS INC	$35,364,000	–	1,005,524	–	4.06%	–
MRK	New	MERCK & CO. INC	$35,115,000	–	454,087	–	4.03%	–
QCOM	New	QUALCOMM INC	$28,076,000	–	307,821	–	3.22%	–
NWL	New	NEWELL BRANDS INC	$26,770,000	–	1,685,749	–	3.08%	–
AIG	New	AMERICAN INTL GROUP INC	$26,570,000	–	852,137	–	3.05%	–
LUMN	New	CENTURYLINK INC	$25,527,000	–	2,545,106	–	2.93%	–
WFC	New	WELLS FARGO CO NEW	$24,989,000	–	976,152	–	2.87%	–
BAC	New	BK OF AMERICA CORP	$24,870,000	–	1,047,175	–	2.86%	–
BKR	New	BAKER HUGHES COMPANYcl a	$23,747,000	–	1,543,008	–	2.73%	–
MUR	New	MURPHY OIL CORP	$21,501,000	–	1,558,039	–	2.47%	–
LNC	New	LINCOLN NATL CORP IND	$20,923,000	–	568,715	–	2.40%	–
ALLY	New	ALLY FINL INC	$20,446,000	–	1,031,075	–	2.35%	–
VIAC	New	VIACOMCBS INCcl b	$19,497,000	–	836,056	–	2.24%	–
CNHI	New	CNH INDL N V	$19,318,000	–	2,747,919	–	2.22%	–
NBL	New	NOBLE ENERGY INC	$19,092,000	–	2,130,826	–	2.19%	–
BRX	New	BRIXMOR PPTY GROUP INC	$18,166,000	–	1,416,982	–	2.09%	–
SYY	New	SYSCO CORP	$17,950,000	–	328,394	–	2.06%	–
NUE	New	NUCOR CORP	$17,835,000	–	430,682	–	2.05%	–
TPR	New	TAPESTRY INC	$17,435,000	–	1,312,884	–	2.00%	–
RS	New	RELIANCE STEEL & ALUMINUM CO	$16,033,000	–	168,893	–	1.84%	–
SWK	New	STANLEY BLACK & DECKER INC	$15,787,000	–	113,265	–	1.81%	–
DXC	New	DXC TECHNOLOGY CO	$15,275,000	–	925,729	–	1.76%	–
PG	New	PROCTER AND GAMBLE CO	$3,281,000	–	27,444	–	0.38%	–
JNJ	New	JOHNSON & JOHNSON	$2,343,000	–	16,661	–	0.27%	–
MMM	New	3M CO	$2,167,000	–	13,895	–	0.25%	–
AAPL	New	APPLE INC	$1,530,000	–	4,193	–	0.18%	–
ABBV	New	ABBVIE INC	$1,478,000	–	15,050	–	0.17%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$1,411,000	–	23,989	–	0.16%	–
SIVB	New	SVB FINANCIAL GROUP	$1,310,000	–	6,076	–	0.15%	–
ABT	New	ABBOTT LABS	$1,264,000	–	13,820	–	0.14%	–
EMR	New	EMERSON ELEC CO	$1,117,000	–	18,005	–	0.13%	–
CSCO	New	CISCO SYS INC	$1,030,000	–	22,074	–	0.12%	–
BIV	New	VANGUARD BD INDEX FDSintermed term	$860,000	–	9,229	–	0.10%	–
ANTM	New	ANTHEM INC	$792,000	–	3,012	–	0.09%	–
PEP	New	PEPSICO INC	$775,000	–	5,860	–	0.09%	–
MSFT	New	MICROSOFT CORP	$742,000	–	3,644	–	0.08%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$711,000	–	2,307	–	0.08%	–
IWM	New	ISHARES TRrussell 2000 etf	$517,000	–	3,611	–	0.06%	–
ORCL	New	ORACLE CORP	$455,000	–	8,238	–	0.05%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$364,000	–	8,916	–	0.04%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$361,000	–	9,119	–	0.04%	–
CVX	New	CHEVRON CORP NEW	$226,000	–	2,528	–	0.03%	–
PWR	New	QUANTA SVCS INC	$205,000	–	5,215	–	0.02%	–
STAG	New	STAG INDL INC	$210,000	–	7,157	–	0.02%	–
ENS	New	ENERSYS	$204,000	–	3,171	–	0.02%	–
FHN	New	FIRST HORIZON NATL CORP	$162,000	–	16,240	–	0.02%	–
GLT	New	GLATFELTER	$168,000	–	10,451	–	0.02%	–
RPT	New	RPT REALTYsh ben int	$126,000	–	18,150	–	0.01%	–
LNDC	New	LANDEC CORP	$112,000	–	14,084	–	0.01%	–
GPX	New	GP STRATEGIES CORP	$100,000	–	11,642	–	0.01%	–

Q4 2019

			Value		Shares		↓ Weighting
AAPL	Exit	APPLE INC	$0	–	-917	–	-0.02%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-2,528	–	-0.02%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-7,396	–	-0.02%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-4,390	–	-0.02%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-8,561	–	-0.03%	–
ORCL	Exit	ORACLE CORP	$0	–	-8,457	–	-0.04%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-3,221	–	-0.04%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-3,738	–	-0.04%	–
BIV	Exit	VANGUARD BD INDEX FD INCintermed term	$0	–	-6,819	–	-0.05%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-2,182	–	-0.05%	–
PEP	Exit	PEPSICO INC	$0	–	-5,860	–	-0.06%	–
ABBV	Exit	ABBVIE INC	$0	–	-15,050	–	-0.09%	–
ABT	Exit	ABBOTT LABS	$0	–	-13,867	–	-0.09%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-18,005	–	-0.09%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-24,221	–	-0.09%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-16,737	–	-0.17%	–
MMM	Exit	3M CO	$0	–	-13,810	–	-0.17%	–
CSCO	Exit	CISCO SYS INC	$0	–	-65,228	–	-0.25%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-27,444	–	-0.26%	–
BRX	Exit	BRIXMOR PPTY GROUP INC	$0	–	-187,060	–	-0.29%	–
SIVB	Exit	SVB FINL GROUP	$0	–	-20,145	–	-0.32%	–
EFX	Exit	EQUIFAX INC	$0	–	-40,339	–	-0.44%	–
AR	Exit	ANTERO RES CORP	$0	–	-1,914,394	–	-0.44%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-393,387	–	-0.89%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-135,304	–	-1.25%	–
LUMN	Exit	CENTURYLINK INC	$0	–	-1,572,331	–	-1.51%	–
CBS	Exit	CBS CORP NEWcl b	$0	–	-653,624	–	-2.03%	–
DVA	Exit	DAVITA INC	$0	–	-495,830	–	-2.17%	–
NWL	Exit	NEWELL BRANDS INC	$0	–	-1,581,428	–	-2.28%	–
TPR	Exit	TAPESTRY INC	$0	–	-1,161,113	–	-2.32%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-1,352,710	–	-2.50%	–
ETFC	Exit	E TRADE FINANCIAL CORP	$0	–	-838,980	–	-2.82%	–
CAG	Exit	CONAGRA BRANDS INC	$0	–	-1,299,969	–	-3.06%	–
BKR	Exit	BAKER HUGHES A GE COcl a	$0	–	-1,735,108	–	-3.09%	–
NBL	Exit	NOBLE ENERGY INC	$0	–	-2,018,259	–	-3.48%	–
HPE	Exit	HEWLETT PACKARD ENTERPRISE C	$0	–	-3,081,825	–	-3.59%	–
BAC	Exit	BANK AMER CORP	$0	–	-1,645,413	–	-3.69%	–
MRK	Exit	MERCK & CO INC	$0	–	-572,558	–	-3.70%	–
QCOM	Exit	QUALCOMM INC	$0	–	-644,898	–	-3.78%	–
AAP	Exit	ADVANCE AUTO PARTS INC	$0	–	-302,989	–	-3.85%	–
EQH	Exit	AXA EQUITABLE HLDGS INC	$0	–	-2,261,838	–	-3.85%	–
LLY	Exit	LILLY ELI & CO	$0	–	-454,168	–	-3.90%	–
ALLY	Exit	ALLY FINL INC	$0	–	-1,563,041	–	-3.98%	–
MSM	Exit	MSC INDL DIRECT INCcl a	$0	–	-723,513	–	-4.03%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-948,863	–	-4.06%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-846,361	–	-4.10%	–
T	Exit	AT&T INC	$0	–	-1,459,516	–	-4.24%	–
LNC	Exit	LINCOLN NATL CORP IND	$0	–	-922,782	–	-4.28%	–
KR	Exit	KROGER CO	$0	–	-2,226,644	–	-4.41%	–
RS	Exit	RELIANCE STEEL & ALUMINUM CO	$0	–	-590,361	–	-4.52%	–
ABC	Exit	AMERISOURCEBERGEN CORP	$0	–	-722,665	–	-4.57%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-440,715	–	-4.92%	–

Q3 2019

			Value		Shares		↓ Weighting
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$64,089,000	+2.0%	440,715	-3.3%	4.92%	+7.8%
ABC	Sell	AMERISOURCEBERGEN CORP	$59,497,000	-8.6%	722,665	-5.4%	4.57%	-3.4%
RS	Sell	RELIANCE STEEL & ALUMINUM CO	$58,835,000	-11.3%	590,361	-15.8%	4.52%	-6.2%
KR	Sell	KROGER CO	$57,403,000	+16.0%	2,226,644	-2.3%	4.41%	+22.6%
LNC	Sell	LINCOLN NATL CORP IND	$55,662,000	-10.9%	922,782	-4.8%	4.28%	-5.9%
T	Buy	AT&T INC	$55,228,000	+276.5%	1,459,516	+233.4%	4.24%	+298.1%
CVS	Buy	CVS HEALTH CORP	$53,380,000	+50.8%	846,361	+30.3%	4.10%	+59.4%
AIG	Sell	AMERICAN INTL GROUP INC	$52,852,000	-29.7%	948,863	-32.8%	4.06%	-25.7%
MSM	Sell	MSC INDL DIRECT INCcl a	$52,476,000	-7.2%	723,513	-5.0%	4.03%	-1.9%
ALLY	Sell	ALLY FINL INC	$51,830,000	-22.2%	1,563,041	-27.3%	3.98%	-17.8%
LLY	Buy	LILLY ELI & CO	$50,790,000	+18.2%	454,168	+17.1%	3.90%	+24.9%
EQH	Buy	AXA EQUITABLE HLDGS INC	$50,122,000	+8.5%	2,261,838	+2.4%	3.85%	+14.7%
AAP	Sell	ADVANCE AUTO PARTS INC	$50,114,000	+2.4%	302,989	-4.5%	3.85%	+8.3%
QCOM	Sell	QUALCOMM INC	$49,193,000	-2.5%	644,898	-2.7%	3.78%	+3.1%
MRK	Sell	MERCK & CO INC	$48,198,000	-1.4%	572,558	-1.8%	3.70%	+4.2%
BAC	Sell	BANK AMER CORP	$47,997,000	-2.2%	1,645,413	-2.8%	3.69%	+3.4%
HPE	Sell	HEWLETT PACKARD ENTERPRISE C	$46,751,000	-2.6%	3,081,825	-4.0%	3.59%	+3.0%
NBL	Buy	NOBLE ENERGY INC	$45,330,000	+11.3%	2,018,259	+11.0%	3.48%	+17.6%
BKR	Sell	BAKER HUGHES A GE COcl a	$40,255,000	-9.3%	1,735,108	-3.7%	3.09%	-4.1%
CAG	Buy	CONAGRA BRANDS INC	$39,883,000	+20.9%	1,299,969	+4.5%	3.06%	+27.8%
ETFC	Buy	E TRADE FINANCIAL CORP	$36,655,000	+174.1%	838,980	+179.8%	2.82%	+189.8%
DVN	Sell	DEVON ENERGY CORP NEW	$32,546,000	-19.4%	1,352,710	-4.5%	2.50%	-14.8%
TPR	Sell	TAPESTRY INC	$30,247,000	-22.8%	1,161,113	-5.9%	2.32%	-18.4%
NWL	Buy	NEWELL BRANDS INC	$29,604,000	+91.0%	1,581,428	+57.3%	2.28%	+101.9%
DVA	Sell	DAVITA INC	$28,297,000	-9.8%	495,830	-11.1%	2.17%	-4.7%
CBS	Buy	CBS CORP NEWcl b	$26,387,000	+89.3%	653,624	+134.0%	2.03%	+100.2%
LUMN	Buy	CENTURYLINK INC	$19,623,000	+29.7%	1,572,331	+22.3%	1.51%	+37.1%
UPS	Sell	UNITED PARCEL SERVICE INCcl b	$16,212,000	+13.3%	135,304	-2.3%	1.25%	+19.8%
DXC	Sell	DXC TECHNOLOGY CO	$11,605,000	-78.5%	393,387	-59.7%	0.89%	-77.2%
AR	Buy	ANTERO RES CORP	$5,781,000	-41.5%	1,914,394	+7.0%	0.44%	-38.2%
EFX	Sell	EQUIFAX INC	$5,674,000	+4.0%	40,339	-0.0%	0.44%	+9.8%
BRX	Sell	BRIXMOR PPTY GROUP INC	$3,795,000	+8.2%	187,060	-4.6%	0.29%	+14.5%
CSCO	Sell	CISCO SYS INC	$3,223,000	-9.8%	65,228	-0.1%	0.25%	-4.6%
JNJ	Buy	JOHNSON & JOHNSON	$2,165,000	-6.7%	16,737	+0.5%	0.17%	-1.8%
ABT	Sell	ABBOTT LABS	$1,160,000	-1.3%	13,867	-0.7%	0.09%	+4.7%
GSK	Sell	GLAXOSMITHKLINE PLCsponsored adr	$365,000	+5.8%	8,561	-0.6%	0.03%	+12.0%
AAPL	New	APPLE INC	$205,000	–	917	–	0.02%	–
MSI	Exit	MOTOROLA SOLUTIONS INC	$0	–	-1,518	–	-0.02%	–
MIK	Exit	MICHAELS COS INC	$0	–	-29,979	–	-0.02%	–
DGX	Exit	QUEST DIAGNOSTICS INC	$0	–	-3,149	–	-0.02%	–
MYL	Exit	MYLAN N V	$0	–	-16,710	–	-0.02%	–
COMM	Exit	COMMSCOPE HLDG CO INC	$0	–	-26,276	–	-0.03%	–
SLM	Exit	SLM CORP	$0	–	-80,584	–	-0.06%	–
ZBH	Exit	ZIMMER BIOMET HLDGS INC	$0	–	-348,641	–	-2.98%	–
C	Exit	CITIGROUP INC	$0	–	-624,224	–	-3.18%	–

Q2 2019

			Value		Shares		↓ Weighting
AIG	New	AMERICAN INTL GROUP INC	$75,198,000	–	1,411,375	–	5.47%	–
ALLY	New	ALLY FINL INC	$66,621,000	–	2,149,749	–	4.84%	–
RS	New	RELIANCE STEEL & ALUMINUM CO	$66,321,000	–	700,920	–	4.82%	–
ABC	New	AMERISOURCEBERGEN CORP	$65,101,000	–	763,559	–	4.73%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$62,836,000	–	455,664	–	4.57%	–
LNC	New	LINCOLN NATL CORP IND	$62,497,000	–	969,691	–	4.54%	–
MSM	New	MSC INDL DIRECT INCcl a	$56,548,000	–	761,486	–	4.11%	–
DXC	New	DXC TECHNOLOGY CO	$53,874,000	–	976,859	–	3.92%	–
QCOM	New	QUALCOMM INC	$50,432,000	–	662,966	–	3.67%	–
KR	New	KROGER CO	$49,491,000	–	2,279,662	–	3.60%	–
BAC	New	BANK AMER CORP	$49,068,000	–	1,692,002	–	3.57%	–
AAP	New	ADVANCE AUTO PARTS INC	$48,924,000	–	317,401	–	3.56%	–
MRK	New	MERCK & CO INC	$48,881,000	–	582,956	–	3.55%	–
HPE	New	HEWLETT PACKARD ENTERPRISE C	$48,006,000	–	3,211,097	–	3.49%	–
EQH	New	AXA EQUITABLE HLDGS INC	$46,177,000	–	2,209,418	–	3.36%	–
BKR	New	BAKER HUGHES A GE COcl a	$44,379,000	–	1,801,810	–	3.23%	–
C	New	CITIGROUP INC	$43,714,000	–	624,224	–	3.18%	–
LLY	New	LILLY ELI & CO	$42,975,000	–	387,899	–	3.12%	–
ZBH	New	ZIMMER BIOMET HLDGS INC	$41,049,000	–	348,641	–	2.98%	–
NBL	New	NOBLE ENERGY INC	$40,738,000	–	1,818,675	–	2.96%	–
DVN	New	DEVON ENERGY CORP NEW	$40,402,000	–	1,416,611	–	2.94%	–
TPR	New	TAPESTRY INC	$39,166,000	–	1,234,340	–	2.85%	–
CVS	New	CVS HEALTH CORP	$35,405,000	–	649,753	–	2.57%	–
CAG	New	CONAGRA BRANDS INC	$32,996,000	–	1,244,196	–	2.40%	–
DVA	New	DAVITA INC	$31,378,000	–	557,728	–	2.28%	–
NWL	New	NEWELL BRANDS INC	$15,503,000	–	1,005,351	–	1.13%	–
LUMN	New	CENTURYLINK INC	$15,124,000	–	1,286,019	–	1.10%	–
T	New	AT&T INC	$14,667,000	–	437,705	–	1.07%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$14,303,000	–	138,497	–	1.04%	–
CBS	New	CBS CORP NEWcl b	$13,936,000	–	279,280	–	1.01%	–
ETFC	New	E TRADE FINANCIAL CORP	$13,372,000	–	299,828	–	0.97%	–
AR	New	ANTERO RES CORP	$9,890,000	–	1,788,364	–	0.72%	–
EFX	New	EQUIFAX INC	$5,456,000	–	40,346	–	0.40%	–
SIVB	New	SVB FINL GROUP	$4,524,000	–	20,145	–	0.33%	–
CSCO	New	CISCO SYS INC	$3,574,000	–	65,298	–	0.26%	–
BRX	New	BRIXMOR PPTY GROUP INC	$3,507,000	–	196,156	–	0.26%	–
PG	New	PROCTER AND GAMBLE CO	$3,009,000	–	27,444	–	0.22%	–
MMM	New	3M CO	$2,394,000	–	13,810	–	0.17%	–
JNJ	New	JOHNSON & JOHNSON	$2,320,000	–	16,657	–	0.17%	–
EMR	New	EMERSON ELEC CO	$1,201,000	–	18,005	–	0.09%	–
ABT	New	ABBOTT LABS	$1,175,000	–	13,967	–	0.08%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$1,098,000	–	24,221	–	0.08%	–
ABBV	New	ABBVIE INC	$1,094,000	–	15,050	–	0.08%	–
SLM	New	SLM CORP	$783,000	–	80,584	–	0.06%	–
PEP	New	PEPSICO INC	$768,000	–	5,860	–	0.06%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$639,000	–	2,182	–	0.05%	–
BIV	New	VANGUARD BD INDEX FD INCintermed term	$590,000	–	6,819	–	0.04%	–
MSFT	New	MICROSOFT CORP	$501,000	–	3,738	–	0.04%	–
IWM	New	ISHARES TRrussell 2000 etf	$501,000	–	3,221	–	0.04%	–
ORCL	New	ORACLE CORP	$482,000	–	8,457	–	0.04%	–
COMM	New	COMMSCOPE HLDG CO INC	$413,000	–	26,276	–	0.03%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$345,000	–	8,611	–	0.02%	–
XOM	New	EXXON MOBIL CORP	$336,000	–	4,390	–	0.02%	–
CVX	New	CHEVRON CORP NEW	$315,000	–	2,528	–	0.02%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$315,000	–	7,396	–	0.02%	–
MYL	New	MYLAN N V	$318,000	–	16,710	–	0.02%	–
DGX	New	QUEST DIAGNOSTICS INC	$321,000	–	3,149	–	0.02%	–
MIK	New	MICHAELS COS INC	$261,000	–	29,979	–	0.02%	–
MSI	New	MOTOROLA SOLUTIONS INC	$253,000	–	1,518	–	0.02%	–

Q4 2018

			Value		Shares		↓ Weighting
AAPL	Exit	APPLE INC	$0	–	-917	–	-0.02%	–
STRA	Exit	STRATEGIC ED INC	$0	–	-1,500	–	-0.02%	–
MSI	Exit	MOTOROLA SOLUTIONS INC	$0	–	-2,100	–	-0.02%	–
DGX	Exit	QUEST DIAGNOSTICS INC	$0	–	-2,720	–	-0.02%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-7,396	–	-0.02%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-2,528	–	-0.02%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-8,476	–	-0.03%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-4,390	–	-0.03%	–
MIK	Exit	MICHAELS COS INC	$0	–	-24,550	–	-0.03%	–
KEYS	Exit	KEYSIGHT TECHNOLOGIES INC	$0	–	-6,000	–	-0.03%	–
ORCL	Exit	ORACLE CORP	$0	–	-8,457	–	-0.03%	–
NNBR	Exit	NN INC	$0	–	-32,000	–	-0.04%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-3,221	–	-0.04%	–
PAGP	Exit	PLAINS GP HLDGS L Pltd partnr int a	$0	–	-22,575	–	-0.04%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-2,007	–	-0.04%	–
ACM	Exit	AECOM	$0	–	-19,000	–	-0.05%	–
PEP	Exit	PEPSICO INC	$0	–	-5,860	–	-0.05%	–
COMM	Exit	COMMSCOPE HLDG CO INC	$0	–	-22,225	–	-0.05%	–
SLM	Exit	SLM CORP	$0	–	-80,100	–	-0.07%	–
EQT	Exit	EQT CORP	$0	–	-21,890	–	-0.07%	–
VOYA	Exit	VOYA FINL INC	$0	–	-19,600	–	-0.07%	–
PRGO	Exit	PERRIGO CO PLC	$0	–	-13,960	–	-0.08%	–
MYL	Exit	MYLAN N V	$0	–	-28,745	–	-0.08%	–
BHF	Exit	BRIGHTHOUSE FINL INC	$0	–	-24,310	–	-0.08%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-18,005	–	-0.10%	–
ABBV	Exit	ABBVIE INC	$0	–	-15,050	–	-0.11%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-24,435	–	-0.12%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-27,444	–	-0.17%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-16,657	–	-0.18%	–
MMM	Exit	3M CO	$0	–	-13,810	–	-0.22%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-42,689	–	-0.37%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-54,796	–	-0.39%	–
EFX	Exit	EQUIFAX INC	$0	–	-42,242	–	-0.42%	–
SIVB	Exit	SVB FINL GROUP	$0	–	-21,135	–	-0.50%	–
COTY	Exit	COTY INC	$0	–	-1,025,748	–	-0.98%	–
FCX	Exit	FREEPORT-MCMORAN INCcl b	$0	–	-1,385,940	–	-1.46%	–
DVA	Exit	DAVITA INC	$0	–	-301,943	–	-1.64%	–
KR	Exit	KROGER CO	$0	–	-757,374	–	-1.67%	–
CSCO	Exit	CISCO SYS INC	$0	–	-486,279	–	-1.80%	–
WFTIQ	Exit	WEATHERFORD INTL PLC	$0	–	-9,733,959	–	-2.00%	–
LUMN	Exit	CENTURYLINK INC	$0	–	-1,417,468	–	-2.28%	–
MRK	Exit	MERCK & CO INC	$0	–	-427,799	–	-2.30%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-862,638	–	-2.62%	–
AR	Exit	ANTERO RES CORP	$0	–	-1,967,016	–	-2.64%	–
NBL	Exit	NOBLE ENERGY INC	$0	–	-1,187,344	–	-2.81%	–
NWL	Exit	NEWELL BRANDS INC	$0	–	-1,825,768	–	-2.81%	–
LLY	Exit	LILLY ELI & CO	$0	–	-377,894	–	-3.08%	–
BKR	Exit	BAKER HUGHES A GE COcl a	$0	–	-1,216,400	–	-3.12%	–
HPE	Exit	HEWLETT PACKARD ENTERPRISE C	$0	–	-2,728,281	–	-3.38%	–
RS	Exit	RELIANCE STEEL & ALUMINUM CO	$0	–	-571,844	–	-3.70%	–
ALLY	Exit	ALLY FINL INC	$0	–	-1,849,167	–	-3.71%	–
TPR	Exit	TAPESTRY INC	$0	–	-976,015	–	-3.72%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-324,765	–	-3.73%	–
MET	Exit	METLIFE INC	$0	–	-1,086,193	–	-3.85%	–
BAC	Exit	BANK AMER CORP	$0	–	-1,747,743	–	-3.91%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-971,957	–	-3.93%	–
ZBH	Exit	ZIMMER BIOMET HLDGS INC	$0	–	-415,060	–	-4.14%	–
ABT	Exit	ABBOTT LABS	$0	–	-760,873	–	-4.24%	–
LNC	Exit	LINCOLN NATL CORP IND	$0	–	-829,118	–	-4.26%	–
MSM	Exit	MSC INDL DIRECT INCcl a	$0	–	-636,981	–	-4.26%	–
C	Exit	CITIGROUP INC	$0	–	-797,629	–	-4.34%	–
AAP	Exit	ADVANCE AUTO PARTS INC	$0	–	-355,057	–	-4.54%	–
ABC	Exit	AMERISOURCEBERGEN CORP	$0	–	-660,719	–	-4.63%	–
QCOM	Exit	QUALCOMM INC	$0	–	-880,248	–	-4.81%	–

Q3 2018

			Value		Shares		↓ Weighting
QCOM	Buy	QUALCOMM INC	$63,404,000	+34.4%	880,248	+4.7%	4.81%	+21.7%
ABC	Buy	AMERISOURCEBERGEN CORP	$60,932,000	+14.7%	660,719	+6.1%	4.63%	+3.9%
AAP	Sell	ADVANCE AUTO PARTS INC	$59,767,000	+18.7%	355,057	-4.3%	4.54%	+7.5%
C	Buy	CITIGROUP INC	$57,222,000	+9.6%	797,629	+2.2%	4.34%	-0.7%
MSM	Buy	MSC INDL DIRECT INCcl a	$56,124,000	+15.4%	636,981	+11.2%	4.26%	+4.6%
LNC	Buy	LINCOLN NATL CORP IND	$56,098,000	+15.5%	829,118	+6.2%	4.26%	+4.6%
ABT	Sell	ABBOTT LABS	$55,818,000	+11.9%	760,873	-7.0%	4.24%	+1.3%
ZBH	Sell	ZIMMER BIOMET HLDGS INC	$54,568,000	+15.8%	415,060	-1.8%	4.14%	+4.9%
AIG	Buy	AMERICAN INTL GROUP INC	$51,747,000	+6.7%	971,957	+6.3%	3.93%	-3.3%
BAC	Buy	BANK AMER CORP	$51,489,000	+5.2%	1,747,743	+0.6%	3.91%	-4.8%
MET	Buy	METLIFE INC	$50,747,000	+13.5%	1,086,193	+5.9%	3.85%	+2.8%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$49,108,000	+12.8%	324,765	+4.2%	3.73%	+2.2%
TPR	Buy	TAPESTRY INC	$49,064,000	+9.5%	976,015	+1.8%	3.72%	-0.8%
ALLY	Buy	ALLY FINL INC	$48,910,000	+5.0%	1,849,167	+4.2%	3.71%	-4.9%
RS	Buy	RELIANCE STEEL & ALUMINUM CO	$48,773,000	+3.4%	571,844	+6.2%	3.70%	-6.3%
HPE	Sell	HEWLETT PACKARD ENTERPRISE C	$44,498,000	+11.5%	2,728,281	-0.1%	3.38%	+1.0%
BKR	Buy	BAKER HUGHES A GE COcl a	$41,151,000	+14.4%	1,216,400	+11.7%	3.12%	+3.6%
LLY	Sell	LILLY ELI & CO	$40,552,000	+21.4%	377,894	-3.4%	3.08%	+10.0%
NWL	Buy	NEWELL BRANDS INC	$37,063,000	-6.5%	1,825,768	+18.8%	2.81%	-15.3%
NBL	Buy	NOBLE ENERGY INC	$37,033,000	+826.3%	1,187,344	+947.6%	2.81%	+739.4%
AR	Buy	ANTERO RES CORP	$34,836,000	+9.4%	1,967,016	+31.9%	2.64%	-0.9%
DVN	Sell	DEVON ENERGY CORP NEW	$34,454,000	-38.4%	862,638	-32.2%	2.62%	-44.2%
MRK	Buy	MERCK & CO INC	$30,348,000	+30.2%	427,799	+11.4%	2.30%	+17.9%
LUMN	Buy	CENTURYLINK INC	$30,050,000	+29.2%	1,417,468	+13.6%	2.28%	+17.0%
WFTIQ	Buy	WEATHERFORD INTL PLC	$26,379,000	+14.2%	9,733,959	+38.7%	2.00%	+3.5%
CSCO	Buy	CISCO SYS INC	$23,657,000	+14.7%	486,279	+1.4%	1.80%	+3.9%
KR	Buy	KROGER CO	$22,047,000	+47.6%	757,374	+44.3%	1.67%	+33.7%
DVA	Buy	DAVITA INC	$21,628,000	+28.6%	301,943	+24.6%	1.64%	+16.5%
FCX	Buy	FREEPORT-MCMORAN INCcl b	$19,292,000	-16.7%	1,385,940	+3.3%	1.46%	-24.6%
COTY	New	COTY INC	$12,883,000	–	1,025,748	–	0.98%	–
SIVB	Buy	SVB FINL GROUP	$6,569,000	+34.3%	21,135	+24.8%	0.50%	+21.7%
EFX	Buy	EQUIFAX INC	$5,516,000	+35.7%	42,242	+30.1%	0.42%	+22.9%
DXC	Buy	DXC TECHNOLOGY CO	$5,125,000	+52.1%	54,796	+31.1%	0.39%	+37.9%
MSFT	Buy	MICROSOFT CORP	$4,882,000	+46.1%	42,689	+26.0%	0.37%	+32.5%
EMR	Sell	EMERSON ELEC CO	$1,379,000	+6.3%	18,005	-4.0%	0.10%	-3.7%
BHF	Buy	BRIGHTHOUSE FINL INC	$1,075,000	+16.6%	24,310	+5.6%	0.08%	+6.5%
MYL	Buy	MYLAN N V	$1,052,000	+41.0%	28,745	+39.2%	0.08%	+27.0%
PRGO	Sell	PERRIGO CO PLC	$988,000	-7.3%	13,960	-4.5%	0.08%	-15.7%
VOYA	Sell	VOYA FINL INC	$974,000	+1.4%	19,600	-4.2%	0.07%	-8.6%
EQT	Buy	EQT CORP	$968,000	-7.8%	21,890	+15.1%	0.07%	-17.0%
SLM	Buy	SLM CORP	$893,000	+20.2%	80,100	+23.4%	0.07%	+9.7%
ACM	Sell	AECOM	$621,000	-94.6%	19,000	-94.6%	0.05%	-95.2%
NNBR	Sell	NN INC	$499,000	-21.7%	32,000	-5.1%	0.04%	-28.3%
KEYS	Sell	KEYSIGHT TECHNOLOGIES INC	$398,000	+10.9%	6,000	-1.2%	0.03%	0.0%
MIK	Buy	MICHAELS COS INC	$398,000	-11.6%	24,550	+4.7%	0.03%	-21.1%
GSK	Buy	GLAXOSMITHKLINE PLCsponsored adr	$340,000	+1.5%	8,476	+2.0%	0.03%	-7.1%
DGX	New	QUEST DIAGNOSTICS INC	$294,000	–	2,720	–	0.02%	–
MSI	Sell	MOTOROLA SOLUTIONS INC	$273,000	-59.9%	2,100	-64.1%	0.02%	-63.2%
AAPL	New	APPLE INC	$207,000	–	917	–	0.02%	–
STRA	New	STRATEGIC ED INC	$206,000	–	1,500	–	0.02%	–
STRA	Exit	STRAYER ED INC	$0	–	-2,103	–	-0.02%	–
PRSP	Exit	PERSPECTA INC	$0	–	-21,047	–	-0.04%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-28,156	–	-0.21%	–
JCI	Exit	JOHNSON CTLS INTL PLC	$0	–	-324,791	–	-0.91%	–
SIG	Exit	SIGNET JEWELERS LIMITED	$0	–	-383,107	–	-1.79%	–

Q2 2018

			Value		Shares		↓ Weighting
DVN	New	DEVON ENERGY CORP NEW	$55,941,000	–	1,272,533	–	4.69%	–
ABC	New	AMERISOURCEBERGEN CORP	$53,122,000	–	622,988	–	4.45%	–
C	New	CITIGROUP INC	$52,212,000	–	780,209	–	4.38%	–
AAP	New	ADVANCE AUTO PARTS INC	$50,346,000	–	371,006	–	4.22%	–
ABT	New	ABBOTT LABS	$49,904,000	–	818,225	–	4.18%	–
BAC	New	BANK AMER CORP	$48,960,000	–	1,736,788	–	4.10%	–
MSM	New	MSC INDL DIRECT INCcl a	$48,617,000	–	572,979	–	4.08%	–
LNC	New	LINCOLN NATL CORP IND	$48,588,000	–	780,526	–	4.07%	–
AIG	New	AMERICAN INTL GROUP INC	$48,489,000	–	914,540	–	4.06%	–
QCOM	New	QUALCOMM INC	$47,190,000	–	840,885	–	3.96%	–
RS	New	RELIANCE STEEL & ALUMINUM CO	$47,151,000	–	538,625	–	3.95%	–
ZBH	New	ZIMMER BIOMET HLDGS INC	$47,117,000	–	422,803	–	3.95%	–
ALLY	New	ALLY FINL INC	$46,600,000	–	1,773,899	–	3.91%	–
TPR	New	TAPESTRY INC	$44,799,000	–	959,087	–	3.76%	–
MET	New	METLIFE INC	$44,727,000	–	1,025,849	–	3.75%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$43,542,000	–	311,684	–	3.65%	–
HPE	New	HEWLETT PACKARD ENTERPRISE C	$39,891,000	–	2,730,376	–	3.34%	–
NWL	New	NEWELL BRANDS INC	$39,640,000	–	1,537,027	–	3.32%	–
BKR	New	BAKER HUGHES A GE COcl a	$35,980,000	–	1,089,316	–	3.02%	–
LLY	New	LILLY ELI & CO	$33,393,000	–	391,341	–	2.80%	–
AR	New	ANTERO RES CORP	$31,834,000	–	1,491,068	–	2.67%	–
MRK	New	MERCK & CO INC	$23,316,000	–	384,113	–	1.95%	–
LUMN	New	CENTURYLINK INC	$23,266,000	–	1,248,165	–	1.95%	–
FCX	New	FREEPORT-MCMORAN INCcl b	$23,165,000	–	1,342,120	–	1.94%	–
WFTIQ	New	WEATHERFORD INTL PLC	$23,097,000	–	7,020,321	–	1.94%	–
SIG	New	SIGNET JEWELERS LIMITED	$21,358,000	–	383,107	–	1.79%	–
CSCO	New	CISCO SYS INC	$20,627,000	–	479,363	–	1.73%	–
DVA	New	DAVITA INC	$16,823,000	–	242,265	–	1.41%	–
KR	New	KROGER CO	$14,935,000	–	524,943	–	1.25%	–
ACM	New	AECOM	$11,591,000	–	350,938	–	0.97%	–
JCI	New	JOHNSON CTLS INTL PLC	$10,864,000	–	324,791	–	0.91%	–
SIVB	New	SVB FINL GROUP	$4,890,000	–	16,936	–	0.41%	–
EFX	New	EQUIFAX INC	$4,064,000	–	32,481	–	0.34%	–
NBL	New	NOBLE ENERGY INC	$3,998,000	–	113,335	–	0.34%	–
DXC	New	DXC TECHNOLOGY CO	$3,369,000	–	41,796	–	0.28%	–
MSFT	New	MICROSOFT CORP	$3,342,000	–	33,889	–	0.28%	–
MMM	New	3M CO	$2,717,000	–	13,810	–	0.23%	–
TEL	New	TE CONNECTIVITY LTD	$2,536,000	–	28,156	–	0.21%	–
PG	New	PROCTER AND GAMBLE CO	$2,142,000	–	27,444	–	0.18%	–
JNJ	New	JOHNSON & JOHNSON	$2,021,000	–	16,657	–	0.17%	–
ABBV	New	ABBVIE INC	$1,394,000	–	15,050	–	0.12%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$1,352,000	–	24,435	–	0.11%	–
EMR	New	EMERSON ELEC CO	$1,297,000	–	18,755	–	0.11%	–
PRGO	New	PERRIGO CO PLC	$1,066,000	–	14,625	–	0.09%	–
EQT	New	EQT CORP	$1,050,000	–	19,025	–	0.09%	–
VOYA	New	VOYA FINL INC	$961,000	–	20,450	–	0.08%	–
BHF	New	BRIGHTHOUSE FINL INC	$922,000	–	23,010	–	0.08%	–
MYL	New	MYLAN N V	$746,000	–	20,645	–	0.06%	–
SLM	New	SLM CORP	$743,000	–	64,900	–	0.06%	–
MSI	New	MOTOROLA SOLUTIONS INC	$681,000	–	5,850	–	0.06%	–
COMM	New	COMMSCOPE HLDG CO INC	$649,000	–	22,225	–	0.05%	–
NNBR	New	NN INC	$637,000	–	33,729	–	0.05%	–
PEP	New	PEPSICO INC	$638,000	–	5,860	–	0.05%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$544,000	–	2,007	–	0.05%	–
PAGP	New	PLAINS GP HLDGS L Pltd partnr int a	$540,000	–	22,575	–	0.04%	–
IWM	New	ISHARES TRrussell 2000 etf	$528,000	–	3,221	–	0.04%	–
MIK	New	MICHAELS COS INC	$450,000	–	23,450	–	0.04%	–
PRSP	New	PERSPECTA INC	$433,000	–	21,047	–	0.04%	–
ORCL	New	ORACLE CORP	$373,000	–	8,457	–	0.03%	–
XOM	New	EXXON MOBIL CORP	$363,000	–	4,390	–	0.03%	–
KEYS	New	KEYSIGHT TECHNOLOGIES INC	$359,000	–	6,075	–	0.03%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$335,000	–	8,306	–	0.03%	–
CVX	New	CHEVRON CORP NEW	$320,000	–	2,528	–	0.03%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$312,000	–	7,396	–	0.03%	–
STRA	New	STRAYER ED INC	$238,000	–	2,103	–	0.02%	–

Q4 2017

			Value		Shares		↓ Weighting
GE	Exit	GENERAL ELECTRIC CO	$0	–	-11,480	–	-0.02%	–
HAL	Exit	HALLIBURTON CO	$0	–	-6,200	–	-0.02%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-8,306	–	-0.03%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-4,720	–	-0.03%	–
ORCL	Exit	ORACLE CORP	$0	–	-8,837	–	-0.04%	–
KSU	Exit	KANSAS CITY SOUTHERN	$0	–	-4,500	–	-0.04%	–
ETFC	Exit	E TRADE FINANCIAL CORP	$0	–	-11,000	–	-0.04%	–
CSRA	Exit	CSRA INC	$0	–	-16,400	–	-0.05%	–
PAGP	Exit	PLAINS GP HLDGS L Pltd partnr int a	$0	–	-26,225	–	-0.05%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-2,369	–	-0.05%	–
MSI	Exit	MOTOROLA SOLUTIONS INC	$0	–	-7,590	–	-0.06%	–
COMM	Exit	COMMSCOPE HLDG CO INC	$0	–	-19,875	–	-0.06%	–
KEYS	Exit	KEYSIGHT TECHNOLOGIES INC	$0	–	-15,950	–	-0.06%	–
AMP	Exit	AMERIPRISE FINL INC	$0	–	-4,600	–	-0.06%	–
VOYA	Exit	VOYA FINL INC	$0	–	-17,550	–	-0.06%	–
MRK	Exit	MERCK & CO INC	$0	–	-11,700	–	-0.06%	–
PRTY	Exit	PARTY CITY HOLDCO INC	$0	–	-58,650	–	-0.07%	–
PEP	Exit	PEPSICO INC	$0	–	-7,760	–	-0.08%	–
EQT	Exit	EQT CORP	$0	–	-14,800	–	-0.08%	–
NNBR	Exit	NN INC	$0	–	-33,929	–	-0.08%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-18,755	–	-0.10%	–
PRGO	Exit	PERRIGO CO PLC	$0	–	-14,850	–	-0.11%	–
ABBV	Exit	ABBVIE INC	$0	–	-15,250	–	-0.12%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-24,550	–	-0.14%	–
AET	Exit	AETNA INC NEW	$0	–	-10,240	–	-0.14%	–
BHF	Exit	BRIGHTHOUSE FINL INC	$0	–	-26,921	–	-0.14%	–
LVS	Exit	LAS VEGAS SANDS CORP	$0	–	-31,390	–	-0.18%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-16,657	–	-0.19%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-27,868	–	-0.21%	–
SIVB	Exit	SVB FINL GROUP	$0	–	-13,761	–	-0.22%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-29,279	–	-0.23%	–
MMM	Exit	3M CO	$0	–	-13,810	–	-0.25%	–
CSCO	Exit	CISCO SYS INC	$0	–	-87,935	–	-0.26%	–
MFGP	Exit	MICRO FOCUS INTERNATIONAL PLspon adr new	$0	–	-369,765	–	-1.02%	–
AR	Exit	ANTERO RES CORP	$0	–	-639,685	–	-1.10%	–
AAP	Exit	ADVANCE AUTO PARTS INC	$0	–	-144,231	–	-1.24%	–
RL	Exit	RALPH LAUREN CORPcl a	$0	–	-173,002	–	-1.33%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-213,617	–	-1.38%	–
FCX	Exit	FREEPORT-MCMORAN INCcl b	$0	–	-1,666,387	–	-2.03%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-171,223	–	-2.16%	–
LLY	Exit	LILLY ELI & CO	$0	–	-337,127	–	-2.50%	–
WFTIQ	Exit	WEATHERFORD INTL PLC	$0	–	-6,570,426	–	-2.61%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-825,912	–	-2.63%	–
COH	Exit	COACH INC	$0	–	-871,371	–	-3.05%	–
HPE	Exit	HEWLETT PACKARD ENTERPRISE C	$0	–	-2,699,096	–	-3.45%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-342,919	–	-3.50%	–
MSM	Exit	MSC INDL DIRECT INCcl a	$0	–	-541,507	–	-3.55%	–
BKR	Exit	BAKER HUGHES A GE COcl a	$0	–	-1,126,062	–	-3.58%	–
ALLY	Exit	ALLY FINL INC	$0	–	-1,757,617	–	-3.70%	–
JCI	Exit	JOHNSON CTLS INTL PLC	$0	–	-1,066,286	–	-3.73%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-716,336	–	-3.82%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-551,912	–	-3.98%	–
ABC	Exit	AMERISOURCEBERGEN CORP	$0	–	-554,901	–	-3.98%	–
BAC	Exit	BANK AMER CORP	$0	–	-1,852,918	–	-4.08%	–
RS	Exit	RELIANCE STEEL & ALUMINUM CO	$0	–	-638,566	–	-4.22%	–
MET	Exit	METLIFE INC	$0	–	-961,272	–	-4.33%	–
ACM	Exit	AECOM	$0	–	-1,369,520	–	-4.38%	–
SIG	Exit	SIGNET JEWELERS LIMITED	$0	–	-793,005	–	-4.58%	–
ZBH	Exit	ZIMMER BIOMET HLDGS INC	$0	–	-474,501	–	-4.82%	–
LNC	Exit	LINCOLN NATL CORP IND	$0	–	-794,998	–	-5.07%	–
C	Exit	CITIGROUP INC	$0	–	-843,741	–	-5.33%	–
ABT	Exit	ABBOTT LABS	$0	–	-1,192,774	–	-5.52%	–

Q3 2017

			Value		Shares		↓ Weighting
ABT	Sell	ABBOTT LABS	$63,646,000	+6.9%	1,192,774	-2.6%	5.52%	+8.0%
C	Sell	CITIGROUP INC	$61,374,000	+5.7%	843,741	-2.9%	5.33%	+6.7%
LNC	Sell	LINCOLN NATL CORP IND	$58,416,000	+3.9%	794,998	-4.5%	5.07%	+4.9%
ZBH	Sell	ZIMMER BIOMET HLDGS INC	$55,559,000	-11.3%	474,501	-2.7%	4.82%	-10.4%
SIG	Sell	SIGNET JEWELERS LIMITED	$52,774,000	+3.8%	793,005	-1.4%	4.58%	+4.8%
ACM	Sell	AECOM	$50,412,000	+10.7%	1,369,520	-2.8%	4.38%	+11.8%
MET	Sell	METLIFE INC	$49,938,000	-7.9%	961,272	-2.6%	4.33%	-7.0%
RS	Sell	RELIANCE STEEL & ALUMINUM CO	$48,640,000	+1.9%	638,566	-2.6%	4.22%	+2.9%
BAC	Sell	BANK AMER CORP	$46,953,000	+2.3%	1,852,918	-2.1%	4.08%	+3.3%
ABC	Buy	AMERISOURCEBERGEN CORP	$45,918,000	+25.2%	554,901	+43.0%	3.98%	+26.5%
TEL	Sell	TE CONNECTIVITY LTD	$45,842,000	+3.4%	551,912	-2.1%	3.98%	+4.4%
AIG	Sell	AMERICAN INTL GROUP INC	$43,976,000	-9.6%	716,336	-7.9%	3.82%	-8.7%
JCI	Buy	JOHNSON CTLS INTL PLC	$42,961,000	+31.6%	1,066,286	+41.7%	3.73%	+32.9%
ALLY	Sell	ALLY FINL INC	$42,640,000	+12.8%	1,757,617	-2.8%	3.70%	+13.9%
BKR	New	BAKER HUGHES A GE COcl a	$41,236,000	–	1,126,062	–	3.58%	–
MSM	Sell	MSC INDL DIRECT INCcl a	$40,922,000	-16.3%	541,507	-4.7%	3.55%	-15.4%
CVX	Sell	CHEVRON CORP NEW	$40,293,000	+7.4%	342,919	-4.6%	3.50%	+8.5%
HPE	Sell	HEWLETT PACKARD ENTERPRISE C	$39,704,000	-13.8%	2,699,096	-2.8%	3.45%	-13.0%
COH	Sell	COACH INC	$35,099,000	-17.1%	871,371	-2.5%	3.05%	-16.2%
DVN	Buy	DEVON ENERGY CORP NEW	$30,319,000	+164.6%	825,912	+130.4%	2.63%	+167.1%
WFTIQ	Buy	WEATHERFORD INTL PLC	$30,093,000	+42.5%	6,570,426	+20.4%	2.61%	+43.9%
LLY	Sell	LILLY ELI & CO	$28,838,000	-0.4%	337,127	-4.1%	2.50%	+0.6%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$24,841,000	-8.4%	171,223	-2.9%	2.16%	-7.5%
FCX	Sell	FREEPORT-MCMORAN INCcl b	$23,396,000	-8.3%	1,666,387	-21.6%	2.03%	-7.4%
MSFT	Sell	MICROSOFT CORP	$15,912,000	-4.8%	213,617	-11.9%	1.38%	-3.8%
RL	Sell	RALPH LAUREN CORPcl a	$15,274,000	-3.4%	173,002	-19.3%	1.33%	-2.4%
AAP	New	ADVANCE AUTO PARTS INC	$14,308,000	–	144,231	–	1.24%	–
AR	Sell	ANTERO RES CORP	$12,730,000	-47.7%	639,685	-43.2%	1.10%	-47.2%
MFGP	New	MICRO FOCUS INTERNATIONAL PLspon adr new	$11,795,000	–	369,765	–	1.02%	–
CSCO	Buy	CISCO SYS INC	$2,957,000	+317.7%	87,935	+288.5%	0.26%	+321.3%
SIVB	Sell	SVB FINL GROUP	$2,575,000	-8.2%	13,761	-13.8%	0.22%	-7.5%
DXC	Buy	DXC TECHNOLOGY CO	$2,393,000	+38.4%	27,868	+23.7%	0.21%	+39.6%
LVS	Sell	LAS VEGAS SANDS CORP	$2,014,000	-14.1%	31,390	-14.5%	0.18%	-12.9%
BHF	New	BRIGHTHOUSE FINL INC	$1,637,000	–	26,921	–	0.14%	–
AET	Sell	AETNA INC NEW	$1,628,000	-11.7%	10,240	-15.7%	0.14%	-10.8%
PRGO	Buy	PERRIGO CO PLC	$1,257,000	+12.5%	14,850	+0.4%	0.11%	+13.5%
EMR	Sell	EMERSON ELEC CO	$1,179,000	+4.6%	18,755	-0.7%	0.10%	+5.2%
PRTY	Buy	PARTY CITY HOLDCO INC	$795,000	+3.9%	58,650	+20.1%	0.07%	+4.5%
MRK	Sell	MERCK & CO INC	$749,000	-12.8%	11,700	-12.7%	0.06%	-12.2%
VOYA	Buy	VOYA FINL INC	$700,000	+51.2%	17,550	+39.8%	0.06%	+52.5%
AMP	Buy	AMERIPRISE FINL INC	$683,000	+78.8%	4,600	+53.3%	0.06%	+78.8%
COMM	Buy	COMMSCOPE HLDG CO INC	$660,000	+4.6%	19,875	+19.7%	0.06%	+5.6%
SPY	Buy	SPDR S&P 500 ETF TRtr unit	$595,000	+18.5%	2,369	+14.0%	0.05%	+20.9%
PAGP	Sell	PLAINS GP HLDGS L Pltd partnr int a	$574,000	-32.9%	26,225	-19.9%	0.05%	-32.4%
CSRA	Buy	CSRA INC	$529,000	+33.2%	16,400	+31.2%	0.05%	+35.3%
MD	Exit	MEDNAX INC	$0	–	-5,700	–	-0.03%	–
FNF	Exit	FIDELITY NATIONAL FINANCIAL	$0	–	-9,500	–	-0.04%	–
AVP	Exit	AVON PRODS INC	$0	–	-4,057,063	–	-1.32%	–
DNB	Exit	DUN & BRADSTREET CORP DEL NE	$0	–	-145,155	–	-1.35%	–
MAT	Exit	MATTEL INC	$0	–	-1,375,296	–	-2.54%	–
BHI	Exit	BAKER HUGHES INC	$0	–	-776,323	–	-3.64%	–

Q2 2017

			Value		Shares		↓ Weighting
ZBH	New	ZIMMER BIOMET HLDGS INC	$62,611,000	–	487,624	–	5.38%	–
ABT	New	ABBOTT LABS	$59,544,000	–	1,224,931	–	5.12%	–
C	New	CITIGROUP INC	$58,090,000	–	868,564	–	4.99%	–
LNC	New	LINCOLN NATL CORP IND	$56,248,000	–	832,313	–	4.83%	–
MET	New	METLIFE INC	$54,241,000	–	987,273	–	4.66%	–
SIG	New	SIGNET JEWELERS LIMITED	$50,847,000	–	804,036	–	4.37%	–
MSM	New	MSC INDL DIRECT INCcl a	$48,863,000	–	568,435	–	4.20%	–
AIG	New	AMERICAN INTL GROUP INC	$48,637,000	–	777,946	–	4.18%	–
RS	New	RELIANCE STEEL & ALUMINUM CO	$47,736,000	–	655,628	–	4.10%	–
HPE	New	HEWLETT PACKARD ENTERPRISE C	$46,082,000	–	2,777,681	–	3.96%	–
BAC	New	BANK AMER CORP	$45,895,000	–	1,891,802	–	3.94%	–
ACM	New	AECOM	$45,530,000	–	1,408,302	–	3.91%	–
TEL	New	TE CONNECTIVITY LTD	$44,355,000	–	563,735	–	3.81%	–
BHI	New	BAKER HUGHES INC	$42,317,000	–	776,323	–	3.64%	–
COH	New	COACH INC	$42,316,000	–	893,866	–	3.64%	–
ALLY	New	ALLY FINL INC	$37,810,000	–	1,809,078	–	3.25%	–
CVX	New	CHEVRON CORP NEW	$37,510,000	–	359,533	–	3.22%	–
ABC	New	AMERISOURCEBERGEN CORP	$36,673,000	–	387,949	–	3.15%	–
JCI	New	JOHNSON CTLS INTL PLC	$32,640,000	–	752,759	–	2.80%	–
MAT	New	MATTEL INC	$29,610,000	–	1,375,296	–	2.54%	–
LLY	New	LILLY ELI & CO	$28,940,000	–	351,640	–	2.49%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$27,125,000	–	176,329	–	2.33%	–
FCX	New	FREEPORT-MCMORAN INCcl b	$25,515,000	–	2,124,503	–	2.19%	–
AR	New	ANTERO RES CORP	$24,328,000	–	1,125,789	–	2.09%	–
WFTIQ	New	WEATHERFORD INTL PLC	$21,119,000	–	5,457,191	–	1.82%	–
MSFT	New	MICROSOFT CORP	$16,710,000	–	242,423	–	1.44%	–
RL	New	RALPH LAUREN CORPcl a	$15,817,000	–	214,329	–	1.36%	–
DNB	New	DUN & BRADSTREET CORP DEL NE	$15,699,000	–	145,155	–	1.35%	–
AVP	New	AVON PRODS INC	$15,417,000	–	4,057,063	–	1.32%	–
DVN	New	DEVON ENERGY CORP NEW	$11,459,000	–	358,438	–	0.98%	–
MMM	New	3M CO	$2,875,000	–	13,810	–	0.25%	–
SIVB	New	SVB FINL GROUP	$2,805,000	–	15,957	–	0.24%	–
PG	New	PROCTER AND GAMBLE CO	$2,552,000	–	29,279	–	0.22%	–
LVS	New	LAS VEGAS SANDS CORP	$2,344,000	–	36,695	–	0.20%	–
JNJ	New	JOHNSON & JOHNSON	$2,204,000	–	16,657	–	0.19%	–
AET	New	AETNA INC NEW	$1,843,000	–	12,140	–	0.16%	–
DXC	New	DXC TECHNOLOGY CO	$1,729,000	–	22,531	–	0.15%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$1,368,000	–	24,550	–	0.12%	–
EMR	New	EMERSON ELEC CO	$1,127,000	–	18,895	–	0.10%	–
PRGO	New	PERRIGO CO PLC	$1,117,000	–	14,790	–	0.10%	–
ABBV	New	ABBVIE INC	$1,106,000	–	15,250	–	0.10%	–
NNBR	New	NN INC	$931,000	–	33,929	–	0.08%	–
PEP	New	PEPSICO INC	$896,000	–	7,760	–	0.08%	–
EQT	New	EQT CORP	$867,000	–	14,800	–	0.08%	–
MRK	New	MERCK & CO INC	$859,000	–	13,400	–	0.07%	–
PAGP	New	PLAINS GP HLDGS L Pltd partnr int a	$856,000	–	32,725	–	0.07%	–
PRTY	New	PARTY CITY HOLDCO INC	$765,000	–	48,850	–	0.07%	–
CSCO	New	CISCO SYS INC	$708,000	–	22,635	–	0.06%	–
MSI	New	MOTOROLA SOLUTIONS INC	$658,000	–	7,590	–	0.06%	–
COMM	New	COMMSCOPE HLDG CO INC	$631,000	–	16,600	–	0.05%	–
KEYS	New	KEYSIGHT TECHNOLOGIES INC	$621,000	–	15,950	–	0.05%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$502,000	–	2,078	–	0.04%	–
KSU	New	KANSAS CITY SOUTHERN	$471,000	–	4,500	–	0.04%	–
VOYA	New	VOYA FINL INC	$463,000	–	12,550	–	0.04%	–
ORCL	New	ORACLE CORP	$443,000	–	8,837	–	0.04%	–
FNF	New	FIDELITY NATIONAL FINANCIAL	$426,000	–	9,500	–	0.04%	–
ETFC	New	E TRADE FINANCIAL CORP	$418,000	–	11,000	–	0.04%	–
CSRA	New	CSRA INC	$397,000	–	12,500	–	0.03%	–
XOM	New	EXXON MOBIL CORP	$381,000	–	4,720	–	0.03%	–
AMP	New	AMERIPRISE FINL INC	$382,000	–	3,000	–	0.03%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$358,000	–	8,306	–	0.03%	–
MD	New	MEDNAX INC	$344,000	–	5,700	–	0.03%	–
GE	New	GENERAL ELECTRIC CO	$310,000	–	11,480	–	0.03%	–
HAL	New	HALLIBURTON CO	$265,000	–	6,200	–	0.02%	–

Q4 2016

			Value		Shares		↓ Weighting
PGR	Exit	PROGRESSIVE CORP OHIO	$0	–	-6,600	–	-0.02%	–
MSI	Exit	MOTOROLA SOLUTIONS INC	$0	–	-3,030	–	-0.02%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-11,980	–	-0.03%	–
ORCL	Exit	ORACLE CORP	$0	–	-8,837	–	-0.03%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-8,306	–	-0.03%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-5,020	–	-0.04%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-2,118	–	-0.04%	–
CSCO	Exit	CISCO SYS INC	$0	–	-15,695	–	-0.04%	–
ABT	Exit	ABBOTT LABS	$0	–	-17,100	–	-0.06%	–
PEP	Exit	PEPSICO INC	$0	–	-8,160	–	-0.08%	–
ABBV	Exit	ABBVIE INC	$0	–	-15,250	–	-0.08%	–
MRK	Exit	MERCK & CO INC	$0	–	-16,200	–	-0.09%	–
SEE	Exit	SEALED AIR CORP NEW	$0	–	-24,850	–	-0.10%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-22,860	–	-0.11%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-24,706	–	-0.11%	–
ABC	Exit	AMERISOURCEBERGEN CORP	$0	–	-23,560	–	-0.16%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-18,107	–	-0.18%	–
SIVB	Exit	SVB FINL GROUP	$0	–	-19,590	–	-0.18%	–
MMM	Exit	3M CO	$0	–	-13,810	–	-0.21%	–
LVS	Exit	LAS VEGAS SANDS CORP	$0	–	-45,165	–	-0.22%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-31,179	–	-0.24%	–
ALL	Exit	ALLSTATE CORP	$0	–	-200,571	–	-1.19%	–
HAL	Exit	HALLIBURTON CO	$0	–	-350,894	–	-1.35%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-250,709	–	-1.43%	–
COH	Exit	COACH INC	$0	–	-464,143	–	-1.45%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-563,593	–	-2.13%	–
AR	Exit	ANTERO RES CORP	$0	–	-926,375	–	-2.14%	–
AVP	Exit	AVON PRODS INC	$0	–	-4,690,822	–	-2.27%	–
ISIL	Exit	INTERSIL CORPcl a	$0	–	-1,265,812	–	-2.38%	–
AET	Exit	AETNA INC NEW	$0	–	-245,239	–	-2.42%	–
FCX	Exit	FREEPORT-MCMORAN INCcl b	$0	–	-2,611,561	–	-2.43%	–
LLY	Exit	LILLY ELI & CO	$0	–	-396,086	–	-2.72%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-201,445	–	-2.74%	–
STJ	Exit	ST JUDE MED INC	$0	–	-444,017	–	-3.03%	–
MAT	Exit	MATTEL INC	$0	–	-1,210,225	–	-3.14%	–
ZBH	Exit	ZIMMER BIOMET HLDGS INC	$0	–	-288,163	–	-3.21%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-610,047	–	-3.36%	–
ACM	Exit	AECOM	$0	–	-1,483,665	–	-3.78%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-778,592	–	-3.84%	–
RL	Exit	RALPH LAUREN CORPcl a	$0	–	-444,946	–	-3.85%	–
BHI	Exit	BAKER HUGHES INC	$0	–	-955,305	–	-4.13%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-471,631	–	-4.16%	–
C	Exit	CITIGROUP INC	$0	–	-1,050,818	–	-4.25%	–
BAC	Exit	BANK AMER CORP	$0	–	-3,190,240	–	-4.28%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-851,952	–	-4.33%	–
MSM	Exit	MSC INDL DIRECT INCcl a	$0	–	-700,468	–	-4.40%	–
RS	Exit	RELIANCE STEEL & ALUMINUM CO	$0	–	-737,116	–	-4.55%	–
MET	Exit	METLIFE INC	$0	–	-1,195,221	–	-4.55%	–
LNC	Exit	LINCOLN NATL CORP IND	$0	–	-1,151,536	–	-4.63%	–
DNB	Exit	DUN & BRADSTREET CORP DEL NE	$0	–	-399,188	–	-4.67%	–
HPE	Exit	HEWLETT PACKARD ENTERPRISE C	$0	–	-2,634,858	–	-5.13%	–

Q3 2016

			Value		Shares		↓ Weighting
HPE	Sell	HEWLETT PACKARD ENTERPRISE C	$59,943,000	+21.8%	2,634,858	-2.2%	5.13%	+12.0%
DNB	Sell	DUN & BRADSTREET CORP DEL NE	$54,537,000	+7.5%	399,188	-4.1%	4.67%	-1.1%
LNC	Buy	LINCOLN NATL CORP IND	$54,099,000	+29.3%	1,151,536	+6.7%	4.63%	+19.0%
MET	Buy	METLIFE INC	$53,104,000	+25.7%	1,195,221	+12.6%	4.55%	+15.6%
RS	Buy	RELIANCE STEEL & ALUMINUM CO	$53,094,000	-2.8%	737,116	+3.8%	4.55%	-10.5%
MSM	Buy	MSC INDL DIRECT INCcl a	$51,421,000	+6.5%	700,468	+2.3%	4.40%	-2.0%
AIG	Buy	AMERICAN INTL GROUP INC	$50,555,000	+12.6%	851,952	+0.4%	4.33%	+3.6%
BAC	Buy	BANK AMER CORP	$49,927,000	+81.5%	3,190,240	+53.9%	4.28%	+67.0%
C	Buy	CITIGROUP INC	$49,630,000	+12.8%	1,050,818	+1.2%	4.25%	+3.7%
CVX	Sell	CHEVRON CORP NEW	$48,540,000	-2.1%	471,631	-0.3%	4.16%	-9.9%
BHI	Sell	BAKER HUGHES INC	$48,214,000	+11.6%	955,305	-0.2%	4.13%	+2.7%
RL	New	RALPH LAUREN CORPcl a	$45,002,000	–	444,946	–	3.85%	–
MSFT	Sell	MICROSOFT CORP	$44,847,000	+10.2%	778,592	-2.1%	3.84%	+1.4%
ACM	Buy	AECOM	$44,109,000	-4.3%	1,483,665	+2.3%	3.78%	-11.9%
TEL	Buy	TE CONNECTIVITY LTD	$39,275,000	+13.6%	610,047	+0.8%	3.36%	+4.5%
ZBH	Sell	ZIMMER BIOMET HLDGS INC	$37,467,000	+7.9%	288,163	-0.1%	3.21%	-0.8%
MAT	Sell	MATTEL INC	$36,646,000	-3.4%	1,210,225	-0.2%	3.14%	-11.2%
STJ	Buy	ST JUDE MED INC	$35,415,000	+83.5%	444,017	+79.4%	3.03%	+68.8%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$32,000,000	+4.5%	201,445	-0.1%	2.74%	-3.8%
LLY	Sell	LILLY ELI & CO	$31,790,000	+1.5%	396,086	-0.4%	2.72%	-6.6%
FCX	Buy	FREEPORT-MCMORAN INCcl b	$28,362,000	-1.2%	2,611,561	+1.4%	2.43%	-9.1%
AET	Sell	AETNA INC NEW	$28,313,000	-5.6%	245,239	-0.2%	2.42%	-13.2%
ISIL	Sell	INTERSIL CORPcl a	$27,759,000	+11.0%	1,265,812	-31.5%	2.38%	+2.1%
AVP	Sell	AVON PRODS INC	$26,550,000	+36.7%	4,690,822	-8.7%	2.27%	+25.7%
AR	Buy	ANTERO RES CORP	$24,966,000	+17.6%	926,375	+13.4%	2.14%	+8.3%
DVN	Sell	DEVON ENERGY CORP NEW	$24,860,000	+21.0%	563,593	-0.5%	2.13%	+11.3%
COH	Buy	COACH INC	$16,969,000	-0.3%	464,143	+11.1%	1.45%	-8.3%
JPM	Sell	JPMORGAN CHASE & CO	$16,695,000	-39.5%	250,709	-43.5%	1.43%	-44.3%
HAL	Sell	HALLIBURTON CO	$15,748,000	-6.5%	350,894	-5.6%	1.35%	-14.0%
ALL	Sell	ALLSTATE CORP	$13,876,000	-11.3%	200,571	-10.4%	1.19%	-18.5%
LVS	Sell	LAS VEGAS SANDS CORP	$2,599,000	+27.0%	45,165	-4.0%	0.22%	+16.8%
SIVB	Buy	SVB FINL GROUP	$2,165,000	+169.3%	19,590	+131.8%	0.18%	+146.7%
ABC	Buy	AMERISOURCEBERGEN CORP	$1,903,000	+105.7%	23,560	+102.1%	0.16%	+89.5%
SEE	Sell	SEALED AIR CORP NEW	$1,139,000	-89.8%	24,850	-89.8%	0.10%	-90.6%
MRK	Sell	MERCK & CO INC	$1,011,000	+4.4%	16,200	-3.6%	0.09%	-3.3%
ABT	Buy	ABBOTT LABS	$723,000	+7.9%	17,100	+0.3%	0.06%	0.0%
GE	Sell	GENERAL ELECTRIC CO	$355,000	-73.1%	11,980	-71.4%	0.03%	-75.6%
MSI	New	MOTOROLA SOLUTIONS INC	$231,000	–	3,030	–	0.02%	–
DGX	Exit	QUEST DIAGNOSTICS INC	$0	–	-598,860	–	-4.54%	–

Q2 2016

			Value		Shares		↓ Weighting
RS	New	RELIANCE STEEL & ALUMINUM CO	$54,606,000	–	710,089	–	5.08%	–
DNB	New	DUN & BRADSTREET CORP DEL NE	$50,738,000	–	416,433	–	4.72%	–
CVX	New	CHEVRON CORP NEW	$49,566,000	–	472,819	–	4.61%	–
HPE	New	HEWLETT PACKARD ENTERPRISE C	$49,227,000	–	2,694,436	–	4.58%	–
DGX	New	QUEST DIAGNOSTICS INC	$48,753,000	–	598,860	–	4.54%	–
MSM	New	MSC INDL DIRECT INCcl a	$48,292,000	–	684,406	–	4.50%	–
ACM	New	AECOM	$46,075,000	–	1,450,257	–	4.29%	–
AIG	New	AMERICAN INTL GROUP INC	$44,901,000	–	848,950	–	4.18%	–
C	New	CITIGROUP INC	$44,004,000	–	1,038,084	–	4.10%	–
BHI	New	BAKER HUGHES INC	$43,204,000	–	957,317	–	4.02%	–
MET	New	METLIFE INC	$42,262,000	–	1,061,057	–	3.93%	–
LNC	New	LINCOLN NATL CORP IND	$41,831,000	–	1,078,946	–	3.89%	–
MSFT	New	MICROSOFT CORP	$40,692,000	–	795,236	–	3.79%	–
MAT	New	MATTEL INC	$37,954,000	–	1,212,972	–	3.53%	–
ZBH	New	ZIMMER BIOMET HLDGS INC	$34,737,000	–	288,562	–	3.23%	–
TEL	New	TE CONNECTIVITY LTD	$34,569,000	–	605,310	–	3.22%	–
LLY	New	LILLY ELI & CO	$31,305,000	–	397,526	–	2.91%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$30,612,000	–	201,689	–	2.85%	–
AET	New	AETNA INC NEW	$30,002,000	–	245,659	–	2.79%	–
FCX	New	FREEPORT-MCMORAN INCcl b	$28,705,000	–	2,576,742	–	2.67%	–
JPM	New	JPMORGAN CHASE & CO	$27,583,000	–	443,882	–	2.57%	–
BAC	New	BANK AMER CORP	$27,503,000	–	2,072,533	–	2.56%	–
ISIL	New	INTERSIL CORPcl a	$25,018,000	–	1,847,677	–	2.33%	–
AR	New	ANTERO RES CORP	$21,224,000	–	816,941	–	1.98%	–
DVN	New	DEVON ENERGY CORP NEW	$20,538,000	–	566,578	–	1.91%	–
AVP	New	AVON PRODS INC	$19,429,000	–	5,139,954	–	1.81%	–
STJ	New	ST JUDE MED INC	$19,300,000	–	247,440	–	1.80%	–
COH	New	COACH INC	$17,014,000	–	417,612	–	1.58%	–
HAL	New	HALLIBURTON CO	$16,838,000	–	371,788	–	1.57%	–
ALL	New	ALLSTATE CORP	$15,650,000	–	223,729	–	1.46%	–
SEE	New	SEALED AIR CORP NEW	$11,198,000	–	243,603	–	1.04%	–
PG	New	PROCTER & GAMBLE CO	$2,640,000	–	31,179	–	0.25%	–
MMM	New	3M CO	$2,418,000	–	13,810	–	0.22%	–
JNJ	New	JOHNSON & JOHNSON	$2,196,000	–	18,107	–	0.20%	–
LVS	New	LAS VEGAS SANDS CORP	$2,047,000	–	47,065	–	0.19%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$1,817,000	–	24,706	–	0.17%	–
GE	New	GENERAL ELECTRIC CO	$1,319,000	–	41,905	–	0.12%	–
EMR	New	EMERSON ELEC CO	$1,192,000	–	22,860	–	0.11%	–
MRK	New	MERCK & CO INC	$968,000	–	16,806	–	0.09%	–
ABBV	New	ABBVIE INC	$944,000	–	15,250	–	0.09%	–
ABC	New	AMERISOURCEBERGEN CORP	$925,000	–	11,660	–	0.09%	–
PEP	New	PEPSICO INC	$864,000	–	8,160	–	0.08%	–
SIVB	New	SVB FINL GROUP	$804,000	–	8,450	–	0.08%	–
ABT	New	ABBOTT LABS	$670,000	–	17,050	–	0.06%	–
XOM	New	EXXON MOBIL CORP	$471,000	–	5,020	–	0.04%	–
CSCO	New	CISCO SYS INC	$450,000	–	15,695	–	0.04%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$444,000	–	2,118	–	0.04%	–
ORCL	New	ORACLE CORP	$362,000	–	8,837	–	0.03%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$360,000	–	8,306	–	0.03%	–
PGR	New	PROGRESSIVE CORP OHIO	$221,000	–	6,600	–	0.02%	–

Q4 2015

			Value		Shares		↓ Weighting
CIE	Exit	COBALT INTL ENERGY INC	$0	–	-20,000	–	-0.01%	–
DV	Exit	DEVRY ED GROUP INC	$0	–	-10,450	–	-0.03%	–
ORCL	Exit	ORACLE CORP	$0	–	-8,837	–	-0.03%	–
ZNGA	Exit	ZYNGA INCcl a	$0	–	-153,000	–	-0.03%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-5,020	–	-0.04%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-2,133	–	-0.04%	–
NTAP	Exit	NETAPP INC	$0	–	-14,650	–	-0.04%	–
UTIW	Exit	UTI WORLDWIDE INCord	$0	–	-99,500	–	-0.04%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-13,656	–	-0.05%	–
SNDK	Exit	SANDISK CORP	$0	–	-9,950	–	-0.05%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-38,050	–	-0.05%	–
AWI	Exit	ARMSTRONG WORLD INDS INC NEW	$0	–	-13,650	–	-0.06%	–
EQT	Exit	EQT CORP	$0	–	-10,100	–	-0.06%	–
HRB	Exit	BLOCK H & R INC	$0	–	-19,000	–	-0.06%	–
HHC	Exit	HOWARD HUGHES CORP	$0	–	-6,068	–	-0.06%	–
ABT	Exit	ABBOTT LABS	$0	–	-17,990	–	-0.07%	–
PRTY	Exit	PARTY CITY HOLDCO INC	$0	–	-47,500	–	-0.07%	–
PEP	Exit	PEPSICO INC	$0	–	-8,160	–	-0.07%	–
DRQ	Exit	DRIL-QUIP INC	$0	–	-13,750	–	-0.07%	–
CLB	Exit	CORE LABORATORIES N V	$0	–	-9,400	–	-0.09%	–
STRA	Exit	STRAYER ED INC	$0	–	-17,250	–	-0.09%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-22,355	–	-0.09%	–
VECO	Exit	VEECO INSTRS INC DEL	$0	–	-48,800	–	-0.09%	–
ABBV	Exit	ABBVIE INC	$0	–	-18,540	–	-0.09%	–
CLH	Exit	CLEAN HARBORS INC	$0	–	-29,700	–	-0.12%	–
LUK	Exit	LEUCADIA NATL CORP	$0	–	-76,300	–	-0.14%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-26,920	–	-0.15%	–
HUM	Exit	HUMANA INC	$0	–	-9,000	–	-0.15%	–
GIL	Exit	GILDAN ACTIVEWEAR INC	$0	–	-56,700	–	-0.16%	–
CIT	Exit	CIT GROUP INC	$0	–	-44,325	–	-0.16%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-19,409	–	-0.17%	–
MSI	Exit	MOTOROLA SOLUTIONS INC	$0	–	-26,850	–	-0.17%	–
NNBR	Exit	NN INC	$0	–	-105,200	–	-0.18%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-25,450	–	-0.19%	–
MMM	Exit	3M CO	$0	–	-15,260	–	-0.20%	–
PGR	Exit	PROGRESSIVE CORP OHIO	$0	–	-70,400	–	-0.20%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-32,784	–	-0.22%	–
PFE	Exit	PFIZER INC	$0	–	-81,430	–	-0.24%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-59,700	–	-0.36%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-31,135	–	-0.42%	–
AVP	Exit	AVON PRODS INC	$0	–	-2,357,604	–	-0.71%	–
HAL	Exit	HALLIBURTON CO	$0	–	-330,011	–	-1.08%	–
AR	Exit	ANTERO RES CORP	$0	–	-647,359	–	-1.27%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-218,758	–	-1.34%	–
WPX	Exit	WPX ENERGY INC	$0	–	-2,242,537	–	-1.38%	–
ZBH	Exit	ZIMMER BIOMET HLDGS INC	$0	–	-168,268	–	-1.47%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-201,240	–	-1.48%	–
FCX	Exit	FREEPORT-MCMORAN INCcl b	$0	–	-2,162,598	–	-1.95%	–
RDC	Exit	ROWAN COMPANIES PLC	$0	–	-1,552,864	–	-2.33%	–
ALL	Exit	ALLSTATE CORP	$0	–	-459,662	–	-2.49%	–
ISIL	Exit	INTERSIL CORPcl a	$0	–	-2,387,143	–	-2.60%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-1,143,551	–	-2.68%	–
MSM	Exit	MSC INDL DIRECT INCcl a	$0	–	-492,492	–	-2.80%	–
AET	Exit	AETNA INC NEW	$0	–	-281,175	–	-2.86%	–
BAC	Exit	BANK AMER CORP	$0	–	-2,072,482	–	-3.00%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-554,435	–	-3.14%	–
SEE	Exit	SEALED AIR CORP NEW	$0	–	-790,883	–	-3.45%	–
DNB	Exit	DUN & BRADSTREET CORP DEL NE	$0	–	-393,826	–	-3.84%	–
HPQ	Exit	HEWLETT PACKARD CO	$0	–	-1,625,324	–	-3.87%	–
DGX	Exit	QUEST DIAGNOSTICS INC	$0	–	-698,271	–	-3.99%	–
RS	Exit	RELIANCE STEEL & ALUMINUM CO	$0	–	-817,975	–	-4.11%	–
ACM	Exit	AECOM	$0	–	-1,618,760	–	-4.14%	–
MAT	Exit	MATTEL INC	$0	–	-2,128,421	–	-4.17%	–
MET	Exit	METLIFE INC	$0	–	-958,245	–	-4.20%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-1,039,517	–	-4.28%	–
LNC	Exit	LINCOLN NATL CORP IND	$0	–	-980,631	–	-4.33%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-779,235	–	-4.34%	–
LLY	Exit	LILLY ELI & CO	$0	–	-557,709	–	-4.34%	–
BHI	Exit	BAKER HUGHES INC	$0	–	-914,063	–	-4.42%	–
C	Exit	CITIGROUP INC	$0	–	-978,711	–	-4.52%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-906,569	–	-4.79%	–

Q3 2015

			Value		Shares		↓ Weighting
AIG	Sell	AMERICAN INTL GROUP INC	$51,511,000	-14.0%	906,569	-6.4%	4.79%	+5.6%
C	Sell	CITIGROUP INC	$48,554,000	-16.1%	978,711	-6.5%	4.52%	+3.0%
BHI	Sell	BAKER HUGHES INC	$47,568,000	-20.5%	914,063	-5.7%	4.42%	-2.4%
LLY	Sell	LILLY ELI & CO	$46,675,000	-29.5%	557,709	-29.6%	4.34%	-13.4%
TEL	Sell	TE CONNECTIVITY LTD	$46,668,000	-11.4%	779,235	-4.8%	4.34%	+8.8%
LNC	Sell	LINCOLN NATL CORP IND	$46,541,000	-25.1%	980,631	-6.6%	4.33%	-8.1%
MSFT	Sell	MICROSOFT CORP	$46,009,000	-5.3%	1,039,517	-5.5%	4.28%	+16.2%
MET	Sell	METLIFE INC	$45,181,000	-21.3%	958,245	-6.5%	4.20%	-3.4%
MAT	Buy	MATTEL INC	$44,825,000	-16.3%	2,128,421	+2.1%	4.17%	+2.7%
ACM	Sell	AECOM	$44,532,000	-22.8%	1,618,760	-7.1%	4.14%	-5.2%
RS	Buy	RELIANCE STEEL & ALUMINUM CO	$44,179,000	+24.2%	817,975	+39.1%	4.11%	+52.5%
DGX	Sell	QUEST DIAGNOSTICS INC	$42,923,000	-20.5%	698,271	-6.3%	3.99%	-2.5%
HPQ	Sell	HEWLETT PACKARD CO	$41,625,000	-20.0%	1,625,324	-6.3%	3.87%	-1.9%
DNB	Buy	DUN & BRADSTREET CORP DEL NE	$41,352,000	+6.9%	393,826	+24.2%	3.84%	+31.2%
SEE	Sell	SEALED AIR CORP NEW	$37,077,000	-14.6%	790,883	-6.4%	3.45%	+4.7%
JPM	Sell	JPMORGAN CHASE & CO	$33,804,000	-16.4%	554,435	-7.0%	3.14%	+2.6%
BAC	Sell	BANK AMER CORP	$32,289,000	-14.5%	2,072,482	-6.6%	3.00%	+4.9%
AET	Sell	AETNA INC NEW	$30,763,000	-22.5%	281,175	-9.7%	2.86%	-4.9%
MSM	Sell	MSC INDL DIRECT INCcl a	$30,057,000	-17.8%	492,492	-6.1%	2.80%	+0.9%
GE	Sell	GENERAL ELECTRIC CO	$28,840,000	-9.7%	1,143,551	-4.9%	2.68%	+10.8%
ISIL	Sell	INTERSIL CORPcl a	$27,930,000	-12.6%	2,387,143	-6.6%	2.60%	+7.2%
ALL	Sell	ALLSTATE CORP	$26,771,000	-16.0%	459,662	-6.5%	2.49%	+3.0%
RDC	Sell	ROWAN COMPANIES PLC	$25,079,000	-33.6%	1,552,864	-13.2%	2.33%	-18.5%
FCX	Buy	FREEPORT-MCMORAN INCcl b	$20,956,000	+37.4%	2,162,598	+164.0%	1.95%	+68.7%
CVX	Buy	CHEVRON CORP NEW	$15,874,000	+6405.7%	201,240	+7860.4%	1.48%	+8100.0%
ZBH	Buy	ZIMMER BIOMET HLDGS INC	$15,805,000	+600.3%	168,268	+714.5%	1.47%	+759.6%
WPX	Buy	WPX ENERGY INC	$14,846,000	-41.3%	2,242,537	+8.9%	1.38%	-28.0%
OMC	Sell	OMNICOM GROUP INC	$14,416,000	-11.2%	218,758	-6.4%	1.34%	+8.9%
AR	New	ANTERO RES CORP	$13,698,000	–	647,359	–	1.27%	–
HAL	Sell	HALLIBURTON CO	$11,666,000	-62.2%	330,011	-53.9%	1.08%	-53.6%
AVP	Sell	AVON PRODS INC	$7,662,000	-51.5%	2,357,604	-6.6%	0.71%	-40.5%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$4,514,000	+367.8%	31,135	+424.6%	0.42%	+475.3%
WMT	New	WAL-MART STORES INC	$3,871,000	–	59,700	–	0.36%	–
PGR	Sell	PROGRESSIVE CORP OHIO	$2,157,000	-14.3%	70,400	-22.1%	0.20%	+5.2%
MSI	New	MOTOROLA SOLUTIONS INC	$1,836,000	–	26,850	–	0.17%	–
HUM	Sell	HUMANA INC	$1,611,000	-35.2%	9,000	-30.8%	0.15%	-20.2%
CLH	Sell	CLEAN HARBORS INC	$1,306,000	-30.0%	29,700	-14.4%	0.12%	-14.2%
STRA	Sell	STRAYER ED INC	$948,000	-9.3%	17,250	-28.9%	0.09%	+11.4%
CLB	New	CORE LABORATORIES N V	$938,000	–	9,400	–	0.09%	–
DRQ	Buy	DRIL-QUIP INC	$801,000	-18.1%	13,750	+5.8%	0.07%	0.0%
PRTY	New	PARTY CITY HOLDCO INC	$759,000	–	47,500	–	0.07%	–
HRB	New	BLOCK H & R INC	$688,000	–	19,000	–	0.06%	–
SNDK	Sell	SANDISK CORP	$541,000	-28.2%	9,950	-23.2%	0.05%	-12.3%
UTIW	Sell	UTI WORLDWIDE INCord	$457,000	-74.1%	99,500	-43.6%	0.04%	-68.7%
NTAP	Sell	NETAPP INC	$434,000	-38.4%	14,650	-34.5%	0.04%	-24.5%
XOM	Sell	EXXON MOBIL CORP	$373,000	-18.7%	5,020	-9.1%	0.04%	0.0%
DV	Sell	DEVRY ED GROUP INC	$284,000	-74.9%	10,450	-72.3%	0.03%	-69.8%
CIE	Sell	COBALT INTL ENERGY INC	$142,000	-51.2%	20,000	-33.3%	0.01%	-40.9%
CFX	Exit	COLFAX CORP	$0	–	-10,575	–	-0.04%	–
UPLMQ	Exit	ULTRA PETROLEUM CORP	$0	–	-1,808,420	–	-1.72%	–
SPLS	Exit	STAPLES INC	$0	–	-1,589,798	–	-1.84%	–
BAX	Exit	BAXTER INTL INC	$0	–	-453,186	–	-2.40%	–

Q2 2015

			Value		Shares		↓ Weighting
LLY	New	LILLY ELI & CO	$66,163,000	–	792,465	–	5.01%	–
LNC	New	LINCOLN NATL CORP IND	$62,149,000	–	1,049,464	–	4.71%	–
AIG	New	AMERICAN INTL GROUP INC	$59,862,000	–	968,330	–	4.54%	–
BHI	New	BAKER HUGHES INC	$59,835,000	–	969,780	–	4.53%	–
C	New	CITIGROUP INC	$57,840,000	–	1,047,068	–	4.38%	–
ACM	New	AECOM	$57,670,000	–	1,743,352	–	4.37%	–
MET	New	METLIFE INC	$57,403,000	–	1,025,231	–	4.35%	–
DGX	New	QUEST DIAGNOSTICS INC	$54,015,000	–	744,829	–	4.09%	–
MAT	New	MATTEL INC	$53,576,000	–	2,085,480	–	4.06%	–
TEL	New	TE CONNECTIVITY LTD	$52,654,000	–	818,874	–	3.99%	–
HPQ	New	HEWLETT PACKARD CO	$52,050,000	–	1,734,408	–	3.94%	–
MSFT	New	MICROSOFT CORP	$48,567,000	–	1,100,041	–	3.68%	–
SEE	New	SEALED AIR CORP NEW	$43,436,000	–	845,395	–	3.29%	–
JPM	New	JPMORGAN CHASE & CO	$40,416,000	–	596,459	–	3.06%	–
AET	New	AETNA INC NEW	$39,688,000	–	311,377	–	3.01%	–
DNB	New	DUN & BRADSTREET CORP DEL NE	$38,676,000	–	317,017	–	2.93%	–
RDC	New	ROWAN COMPANIES PLC	$37,782,000	–	1,789,781	–	2.86%	–
BAC	New	BANK AMER CORP	$37,760,000	–	2,218,544	–	2.86%	–
MSM	New	MSC INDL DIRECT INCcl a	$36,574,000	–	524,210	–	2.77%	–
RS	New	RELIANCE STEEL & ALUMINUM CO	$35,560,000	–	587,963	–	2.69%	–
ISIL	New	INTERSIL CORPcl a	$31,965,000	–	2,555,130	–	2.42%	–
GE	New	GENERAL ELECTRIC CO	$31,948,000	–	1,202,400	–	2.42%	–
ALL	New	ALLSTATE CORP	$31,887,000	–	491,549	–	2.42%	–
BAX	New	BAXTER INTL INC	$31,691,000	–	453,186	–	2.40%	–
HAL	New	HALLIBURTON CO	$30,847,000	–	716,209	–	2.34%	–
WPX	New	WPX ENERGY INC	$25,295,000	–	2,059,870	–	1.92%	–
SPLS	New	STAPLES INC	$24,340,000	–	1,589,798	–	1.84%	–
UPLMQ	New	ULTRA PETROLEUM CORP	$22,641,000	–	1,808,420	–	1.72%	–
OMC	New	OMNICOM GROUP INC	$16,235,000	–	233,636	–	1.23%	–
AVP	New	AVON PRODS INC	$15,797,000	–	2,523,442	–	1.20%	–
FCX	New	FREEPORT-MCMORAN INCcl b	$15,250,000	–	819,024	–	1.16%	–
PFE	New	PFIZER INC	$2,730,000	–	81,430	–	0.21%	–
NNBR	New	NN INC	$2,685,000	–	105,200	–	0.20%	–
PG	New	PROCTER & GAMBLE CO	$2,565,000	–	32,784	–	0.19%	–
PGR	New	PROGRESSIVE CORP OHIO	$2,516,000	–	90,400	–	0.19%	–
HUM	New	HUMANA INC	$2,487,000	–	13,000	–	0.19%	–
MMM	New	3M CO	$2,355,000	–	15,260	–	0.18%	–
ZBH	New	ZIMMER BIOMET HLDGS INC	$2,257,000	–	20,660	–	0.17%	–
CIT	New	CIT GROUP INC	$2,061,000	–	44,325	–	0.16%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$2,025,000	–	25,450	–	0.15%	–
GIL	New	GILDAN ACTIVEWEAR INC	$1,885,000	–	56,700	–	0.14%	–
JNJ	New	JOHNSON & JOHNSON	$1,892,000	–	19,409	–	0.14%	–
CLH	New	CLEAN HARBORS INC	$1,865,000	–	34,700	–	0.14%	–
LUK	New	LEUCADIA NATL CORP	$1,853,000	–	76,300	–	0.14%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$1,791,000	–	26,920	–	0.14%	–
UTIW	New	UTI WORLDWIDE INCord	$1,763,000	–	176,500	–	0.13%	–
VECO	New	VEECO INSTRS INC DEL	$1,403,000	–	48,800	–	0.11%	–
ABBV	New	ABBVIE INC	$1,246,000	–	18,540	–	0.09%	–
EMR	New	EMERSON ELEC CO	$1,239,000	–	22,355	–	0.09%	–
DV	New	DEVRY ED GROUP INC	$1,130,000	–	37,700	–	0.09%	–
STRA	New	STRAYER ED INC	$1,045,000	–	24,250	–	0.08%	–
DRQ	New	DRIL-QUIP INC	$978,000	–	13,000	–	0.07%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$965,000	–	5,935	–	0.07%	–
ABT	New	ABBOTT LABS	$883,000	–	17,990	–	0.07%	–
HHC	New	HOWARD HUGHES CORP	$871,000	–	6,068	–	0.07%	–
EQT	New	EQT CORP	$822,000	–	10,100	–	0.06%	–
PEP	New	PEPSICO INC	$762,000	–	8,160	–	0.06%	–
SNDK	New	SANDISK CORP	$754,000	–	12,950	–	0.06%	–
AWI	New	ARMSTRONG WORLD INDS INC NEW	$727,000	–	13,650	–	0.06%	–
MU	New	MICRON TECHNOLOGY INC	$717,000	–	38,050	–	0.05%	–
NTAP	New	NETAPP INC	$705,000	–	22,350	–	0.05%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$569,000	–	13,656	–	0.04%	–
CFX	New	COLFAX CORP	$488,000	–	10,575	–	0.04%	–
XOM	New	EXXON MOBIL CORP	$459,000	–	5,520	–	0.04%	–
ZNGA	New	ZYNGA INCcl a	$438,000	–	153,000	–	0.03%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$439,000	–	2,133	–	0.03%	–
ORCL	New	ORACLE CORP	$356,000	–	8,837	–	0.03%	–
CIE	New	COBALT INTL ENERGY INC	$291,000	–	30,000	–	0.02%	–
CVX	New	CHEVRON CORP NEW	$244,000	–	2,528	–	0.02%	–

Q4 2014

			Value		Shares		↓ Weighting
CVX	Exit	CHEVRON CORP NEW	$0	–	-2,528	–	-0.03%	–
ORCL	Exit	ORACLE CORP	$0	–	-8,837	–	-0.03%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-8,868	–	-0.03%	–
IWB	Exit	ISHARES TRrus 1000 etf	$0	–	-3,456	–	-0.03%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-2,163	–	-0.04%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-5,520	–	-0.05%	–
VRTX	Exit	VERTEX PHARMACEUTICALS INC	$0	–	-5,200	–	-0.05%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-13,656	–	-0.06%	–
PEP	Exit	PEPSICO INC	$0	–	-8,160	–	-0.07%	–
ABT	Exit	ABBOTT LABS	$0	–	-18,990	–	-0.07%	–
CFX	Exit	COLFAX CORP	$0	–	-19,000	–	-0.10%	–
ABBV	Exit	ABBVIE INC	$0	–	-18,990	–	-0.10%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-6,060	–	-0.10%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-22,355	–	-0.12%	–
CIE	Exit	COBALT INTL ENERGY INC	$0	–	-104,500	–	-0.13%	–
EQT	Exit	EQT CORP	$0	–	-15,800	–	-0.13%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-30,730	–	-0.14%	–
HHC	Exit	HOWARD HUGHES CORP	$0	–	-11,563	–	-0.15%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-27,000	–	-0.17%	–
AWI	Exit	ARMSTRONG WORLD INDS INC NEW	$0	–	-33,400	–	-0.17%	–
MNST	Exit	MONSTER BEVERAGE CORP	$0	–	-20,900	–	-0.17%	–
SNDK	Exit	SANDISK CORP	$0	–	-19,800	–	-0.17%	–
NTAP	Exit	NETAPP INC	$0	–	-46,000	–	-0.18%	–
CORE	Exit	CORE MARK HOLDING CO INC	$0	–	-39,000	–	-0.18%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-19,959	–	-0.19%	–
MMM	Exit	3M CO	$0	–	-15,760	–	-0.20%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-69,000	–	-0.21%	–
PFE	Exit	PFIZER INC	$0	–	-83,480	–	-0.22%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-32,784	–	-0.24%	–
VECO	Exit	VEECO INSTRS INC DEL	$0	–	-79,600	–	-0.25%	–
DV	Exit	DEVRY ED GROUP INC	$0	–	-67,000	–	-0.25%	–
CLH	Exit	CLEAN HARBORS INC	$0	–	-57,500	–	-0.28%	–
CIT	Exit	CIT GROUP INC	$0	–	-78,200	–	-0.32%	–
NNBR	Exit	NN INC	$0	–	-143,000	–	-0.34%	–
UTIW	Exit	UTI WORLDWIDE INCord	$0	–	-372,000	–	-0.35%	–
HUM	Exit	HUMANA INC	$0	–	-33,450	–	-0.39%	–
STRA	Exit	STRAYER ED INC	$0	–	-73,300	–	-0.39%	–
PGR	Exit	PROGRESSIVE CORP OHIO	$0	–	-191,500	–	-0.43%	–
AA	Exit	ALCOA INC	$0	–	-918,017	–	-1.31%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-599,196	–	-1.89%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-342,653	–	-2.09%	–
UPLMQ	Exit	ULTRA PETROLEUM CORP	$0	–	-1,029,782	–	-2.12%	–
RS	Exit	RELIANCE STEEL & ALUMINUM CO	$0	–	-350,997	–	-2.13%	–
ISIL	Exit	INTERSIL CORPcl a	$0	–	-1,712,091	–	-2.16%	–
ACM	Exit	AECOM TECHNOLOGY CORP DELAWA	$0	–	-733,063	–	-2.20%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-467,407	–	-2.29%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-1,029,776	–	-2.34%	–
6107SC	Exit	URS CORP NEW	$0	–	-472,143	–	-2.41%	–
BAX	Exit	BAXTER INTL INC	$0	–	-379,512	–	-2.42%	–
RDC	Exit	ROWAN COMPANIES PLC	$0	–	-1,107,603	–	-2.49%	–
WPX	Exit	WPX ENERGY INC	$0	–	-1,197,209	–	-2.56%	–
SPLS	Exit	STAPLES INC	$0	–	-2,401,197	–	-2.58%	–
ALL	Exit	ALLSTATE CORP	$0	–	-477,770	–	-2.60%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-504,792	–	-2.70%	–
BAC	Exit	BANK AMER CORP	$0	–	-1,902,342	–	-2.88%	–
SEE	Exit	SEALED AIR CORP NEW	$0	–	-944,766	–	-2.92%	–
DNB	Exit	DUN & BRADSTREET CORP DEL NE	$0	–	-280,599	–	-2.92%	–
DGX	Exit	QUEST DIAGNOSTICS INC	$0	–	-602,584	–	-3.24%	–
AVP	Exit	AVON PRODS INC	$0	–	-3,424,212	–	-3.83%	–
MET	Exit	METLIFE INC	$0	–	-811,764	–	-3.87%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-815,315	–	-3.91%	–
BHI	Exit	BAKER HUGHES INC	$0	–	-686,387	–	-3.96%	–
C	Exit	CITIGROUP INC	$0	–	-876,113	–	-4.03%	–
HAL	Exit	HALLIBURTON CO	$0	–	-711,967	–	-4.08%	–
LNC	Exit	LINCOLN NATL CORP IND	$0	–	-867,446	–	-4.12%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-1,042,563	–	-4.29%	–
LLY	Exit	LILLY ELI & CO	$0	–	-750,904	–	-4.32%	–
AET	Exit	AETNA INC NEW	$0	–	-601,419	–	-4.32%	–
HPQ	Exit	HEWLETT PACKARD CO	$0	–	-1,433,350	–	-4.51%	–

Q3 2014

			Value		Shares		↓ Weighting
HPQ	Sell	HEWLETT PACKARD CO	$50,841,000	+2.0%	1,433,350	-3.1%	4.51%	-8.9%
AET	Buy	AETNA INC NEW	$48,715,000	+5.6%	601,419	+5.7%	4.32%	-5.7%
LLY	Buy	LILLY ELI & CO	$48,696,000	+7.7%	750,904	+3.3%	4.32%	-3.8%
MSFT	Sell	MICROSOFT CORP	$48,333,000	+11.0%	1,042,563	-0.1%	4.29%	-0.9%
LNC	Buy	LINCOLN NATL CORP IND	$46,478,000	+5.9%	867,446	+1.6%	4.12%	-5.5%
HAL	Buy	HALLIBURTON CO	$45,929,000	-6.0%	711,967	+3.5%	4.08%	-16.0%
C	Buy	CITIGROUP INC	$45,400,000	+13.1%	876,113	+2.8%	4.03%	+1.0%
BHI	Buy	BAKER HUGHES INC	$44,656,000	-3.3%	686,387	+10.7%	3.96%	-13.6%
AIG	Buy	AMERICAN INTL GROUP INC	$44,043,000	+2.8%	815,315	+3.9%	3.91%	-8.2%
MET	Buy	METLIFE INC	$43,608,000	+9.2%	811,764	+12.9%	3.87%	-2.5%
AVP	Buy	AVON PRODS INC	$43,145,000	+9.5%	3,424,212	+26.9%	3.83%	-2.2%
DGX	Buy	QUEST DIAGNOSTICS INC	$36,565,000	+284.2%	602,584	+271.6%	3.24%	+242.9%
DNB	Buy	DUN & BRADSTREET CORP DEL NE	$32,962,000	+200.0%	280,599	+181.5%	2.92%	+168.1%
SEE	Buy	SEALED AIR CORP NEW	$32,953,000	+5.8%	944,766	+3.7%	2.92%	-5.5%
BAC	Buy	BANK AMER CORP	$32,435,000	+15.3%	1,902,342	+3.9%	2.88%	+3.0%
JPM	Buy	JPMORGAN CHASE & CO	$30,409,000	+11.0%	504,792	+6.2%	2.70%	-0.9%
ALL	Sell	ALLSTATE CORP	$29,321,000	+4.3%	477,770	-0.2%	2.60%	-6.8%
SPLS	Buy	STAPLES INC	$29,054,000	+15.8%	2,401,197	+3.7%	2.58%	+3.5%
WPX	Buy	WPX ENERGY INC	$28,805,000	+14.8%	1,197,209	+14.1%	2.56%	+2.6%
RDC	Buy	ROWAN COMPANIES PLC	$28,033,000	+167.3%	1,107,603	+237.3%	2.49%	+138.7%
BAX	Sell	BAXTER INTL INC	$27,238,000	-28.3%	379,512	-27.7%	2.42%	-35.9%
6107SC	Buy	URS CORP NEW	$27,200,000	+84.8%	472,143	+47.1%	2.41%	+65.0%
GE	Buy	GENERAL ELECTRIC CO	$26,383,000	+0.0%	1,029,776	+2.6%	2.34%	-10.7%
TEL	Buy	TE CONNECTIVITY LTD	$25,843,000	-5.7%	467,407	+5.5%	2.29%	-15.8%
ACM	Buy	AECOM TECHNOLOGY CORP DELAWA	$24,741,000	+22.2%	733,063	+16.6%	2.20%	+9.1%
ISIL	Buy	INTERSIL CORPcl a	$24,329,000	-2.2%	1,712,091	+2.8%	2.16%	-12.7%
RS	Buy	RELIANCE STEEL & ALUMINUM CO	$24,008,000	+57.4%	350,997	+69.6%	2.13%	+40.6%
UPLMQ	Buy	ULTRA PETROLEUM CORP	$23,953,000	-13.1%	1,029,782	+10.9%	2.12%	-22.4%
OMC	Sell	OMNICOM GROUP INC	$23,595,000	-3.5%	342,653	-0.2%	2.09%	-13.8%
EA	Sell	ELECTRONIC ARTS INC	$21,337,000	-28.7%	599,196	-28.1%	1.89%	-36.3%
AA	Sell	ALCOA INC	$14,771,000	-24.6%	918,017	-30.2%	1.31%	-32.6%
PGR	Buy	PROGRESSIVE CORP OHIO	$4,841,000	+2141.2%	191,500	+2152.9%	0.43%	+1947.6%
STRA	New	STRAYER ED INC	$4,389,000	–	73,300	–	0.39%	–
HUM	Buy	HUMANA INC	$4,358,000	+1484.7%	33,450	+1455.8%	0.39%	+1333.3%
UTIW	New	UTI WORLDWIDE INCord	$3,954,000	–	372,000	–	0.35%	–
NNBR	Buy	NN INC	$3,821,000	+1763.9%	143,000	+1687.5%	0.34%	+1595.0%
CIT	New	CIT GROUP INC	$3,594,000	–	78,200	–	0.32%	–
CLH	New	CLEAN HARBORS INC	$3,100,000	–	57,500	–	0.28%	–
DV	New	DEVRY ED GROUP INC	$2,868,000	–	67,000	–	0.25%	–
VECO	New	VEECO INSTRS INC DEL	$2,782,000	–	79,600	–	0.25%	–
MU	New	MICRON TECHNOLOGY INC	$2,364,000	–	69,000	–	0.21%	–
JNJ	Sell	JOHNSON & JOHNSON	$2,127,000	-1.2%	19,959	-3.0%	0.19%	-11.7%
CORE	New	CORE MARK HOLDING CO INC	$2,069,000	–	39,000	–	0.18%	–
NTAP	New	NETAPP INC	$1,976,000	–	46,000	–	0.18%	–
SNDK	New	SANDISK CORP	$1,939,000	–	19,800	–	0.17%	–
MNST	New	MONSTER BEVERAGE CORP	$1,916,000	–	20,900	–	0.17%	–
AWI	New	ARMSTRONG WORLD INDS INC NEW	$1,870,000	–	33,400	–	0.17%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$1,869,000	–	27,000	–	0.17%	–
HHC	New	HOWARD HUGHES CORP	$1,734,000	–	11,563	–	0.15%	–
EQT	New	EQT CORP	$1,446,000	–	15,800	–	0.13%	–
CIE	New	COBALT INTL ENERGY INC	$1,421,000	–	104,500	–	0.13%	–
CFX	New	COLFAX CORP	$1,082,000	–	19,000	–	0.10%	–
VRTX	New	VERTEX PHARMACEUTICALS INC	$584,000	–	5,200	–	0.05%	–
SPY	Buy	SPDR S&P 500 ETF TRtr unit	$426,000	+20.7%	2,163	+20.0%	0.04%	+8.6%
IWB	New	ISHARES TRrus 1000 etf	$378,000	–	3,456	–	0.03%	–
VWO	Buy	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$370,000	+73.7%	8,868	+79.9%	0.03%	+57.1%
RRD	Exit	DONNELLEY R R & SONS CO	$0	–	-547,367	–	-0.92%	–
XRX	Exit	XEROX CORP	$0	–	-2,231,782	–	-2.76%	–

Q2 2014

			Value		Shares		↓ Weighting
HPQ	New	HEWLETT PACKARD CO	$49,822,000	–	1,479,287	–	4.95%	–
HAL	New	HALLIBURTON CO	$48,844,000	–	687,842	–	4.85%	–
BHI	New	BAKER HUGHES INC	$46,174,000	–	620,201	–	4.59%	–
AET	New	AETNA INC NEW	$46,139,000	–	569,060	–	4.58%	–
LLY	New	LILLY ELI & CO	$45,196,000	–	726,978	–	4.49%	–
LNC	New	LINCOLN NATL CORP IND	$43,906,000	–	853,545	–	4.36%	–
MSFT	New	MICROSOFT CORP	$43,538,000	–	1,044,070	–	4.32%	–
AIG	New	AMERICAN INTL GROUP INC	$42,837,000	–	784,855	–	4.26%	–
C	New	CITIGROUP INC	$40,147,000	–	852,383	–	3.99%	–
MET	New	METLIFE INC	$39,933,000	–	718,743	–	3.97%	–
AVP	New	AVON PRODS INC	$39,417,000	–	2,697,935	–	3.92%	–
BAX	New	BAXTER INTL INC	$37,969,000	–	525,161	–	3.77%	–
SEE	New	SEALED AIR CORP NEW	$31,137,000	–	911,238	–	3.09%	–
EA	New	ELECTRONIC ARTS INC	$29,907,000	–	833,750	–	2.97%	–
BAC	New	BANK OF AMERICA CORPORATION	$28,129,000	–	1,830,098	–	2.79%	–
ALL	New	ALLSTATE CORP	$28,101,000	–	478,553	–	2.79%	–
XRX	New	XEROX CORP	$27,763,000	–	2,231,782	–	2.76%	–
UPLMQ	New	ULTRA PETROLEUM CORP	$27,557,000	–	928,160	–	2.74%	–
JPM	New	JPMORGAN CHASE & CO	$27,397,000	–	475,480	–	2.72%	–
TEL	New	TE CONNECTIVITY LTD	$27,400,000	–	443,077	–	2.72%	–
GE	New	GENERAL ELECTRIC CO	$26,382,000	–	1,003,896	–	2.62%	–
SPLS	New	STAPLES INC	$25,089,000	–	2,314,493	–	2.49%	–
WPX	New	WPX ENERGY INC	$25,081,000	–	1,048,973	–	2.49%	–
ISIL	New	INTERSIL CORPcl a	$24,889,000	–	1,664,847	–	2.47%	–
OMC	New	OMNICOM GROUP INC	$24,454,000	–	343,361	–	2.43%	–
ACM	New	AECOM TECHNOLOGY CORP DELAWA	$20,239,000	–	628,551	–	2.01%	–
AA	New	ALCOA INC	$19,585,000	–	1,315,328	–	1.95%	–
RS	New	RELIANCE STEEL & ALUMINUM CO	$15,250,000	–	206,897	–	1.52%	–
6107SC	New	URS CORP NEW	$14,721,000	–	321,074	–	1.46%	–
DNB	New	DUN & BRADSTREET CORP DEL NE	$10,986,000	–	99,688	–	1.09%	–
RDC	New	ROWAN COMPANIES PLC	$10,486,000	–	328,398	–	1.04%	–
DGX	New	QUEST DIAGNOSTICS INC	$9,518,000	–	162,177	–	0.95%	–
RRD	New	DONNELLEY R R & SONS CO	$9,283,000	–	547,367	–	0.92%	–
PG	New	PROCTER & GAMBLE CO	$2,576,000	–	32,784	–	0.26%	–
PFE	New	PFIZER INC	$2,478,000	–	83,480	–	0.25%	–
MMM	New	3M CO	$2,257,000	–	15,760	–	0.22%	–
JNJ	New	JOHNSON & JOHNSON	$2,153,000	–	20,579	–	0.21%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$1,491,000	–	30,730	–	0.15%	–
EMR	New	EMERSON ELEC CO	$1,483,000	–	22,355	–	0.15%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$1,098,000	–	6,060	–	0.11%	–
ABBV	New	ABBVIE INC	$1,072,000	–	18,990	–	0.11%	–
ABT	New	ABBOTT LABS	$777,000	–	18,990	–	0.08%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$730,000	–	13,656	–	0.07%	–
PEP	New	PEPSICO INC	$729,000	–	8,160	–	0.07%	–
XOM	New	EXXON MOBIL CORP	$556,000	–	5,520	–	0.06%	–
ORCL	New	ORACLE CORP	$358,000	–	8,837	–	0.04%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$353,000	–	1,803	–	0.04%	–
CVX	New	CHEVRON CORP NEW	$330,000	–	2,528	–	0.03%	–
HUM	New	HUMANA INC	$275,000	–	2,150	–	0.03%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$213,000	–	4,929	–	0.02%	–
PGR	New	PROGRESSIVE CORP OHIO	$216,000	–	8,500	–	0.02%	–
NNBR	New	NN INC	$205,000	–	8,000	–	0.02%	–

Q4 2013

			Value		Shares		↓ Weighting
HUM	Exit	HUMANA INC	$0	–	-2,150	–	-0.02%	–
PGR	Exit	PROGRESSIVE CORP OHIO	$0	–	-8,500	–	-0.03%	–
ORCL	Exit	ORACLE CORP	$0	–	-8,837	–	-0.04%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-2,528	–	-0.04%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-5,520	–	-0.06%	–
ABT	Exit	ABBOTT LABS	$0	–	-18,990	–	-0.08%	–
PEP	Exit	PEPSICO INC	$0	–	-8,160	–	-0.08%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-13,656	–	-0.09%	–
ABBV	Exit	ABBVIE INC	$0	–	-18,990	–	-0.11%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-6,170	–	-0.14%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-30,800	–	-0.18%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-22,355	–	-0.18%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-21,014	–	-0.23%	–
MMM	Exit	3M CO	$0	–	-15,760	–	-0.24%	–
PFE	Exit	PFIZER INC	$0	–	-83,480	–	-0.30%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-32,784	–	-0.31%	–
CCL	Exit	CARNIVAL CORPpaired ctf	$0	–	-275,807	–	-1.13%	–
RS	Exit	RELIANCE STEEL & ALUMINUM CO	$0	–	-157,926	–	-1.45%	–
UPLMQ	Exit	ULTRA PETROLEUM CORP	$0	–	-737,937	–	-1.90%	–
AA	Exit	ALCOA INC	$0	–	-1,939,633	–	-1.98%	–
ISIL	Exit	INTERSIL CORPcl a	$0	–	-1,476,693	–	-2.08%	–
WPX	Exit	WPX ENERGY INC	$0	–	-877,724	–	-2.12%	–
WCRX	Exit	WARNER CHILCOTT PLC IRELAND	$0	–	-742,956	–	-2.14%	–
RRD	Exit	DONNELLEY R R & SONS CO	$0	–	-1,077,851	–	-2.14%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-908,718	–	-2.72%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-897,473	–	-2.88%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-449,897	–	-2.92%	–
AVP	Exit	AVON PRODS INC	$0	–	-1,203,075	–	-3.11%	–
ALL	Exit	ALLSTATE CORP	$0	–	-492,568	–	-3.12%	–
SEE	Exit	SEALED AIR CORP NEW	$0	–	-1,009,602	–	-3.44%	–
RHI	Exit	ROBERT HALF INTL INC	$0	–	-711,932	–	-3.49%	–
BAX	Exit	BAXTER INTL INC	$0	–	-449,088	–	-3.70%	–
LLY	Exit	LILLY ELI & CO	$0	–	-595,995	–	-3.76%	–
SPLS	Exit	STAPLES INC	$0	–	-2,103,916	–	-3.87%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-489,106	–	-3.89%	–
C	Exit	CITIGROUP INC	$0	–	-654,905	–	-3.99%	–
BAC	Exit	BANK OF AMERICA CORPORATION	$0	–	-2,320,304	–	-4.02%	–
HPQ	Exit	HEWLETT PACKARD CO	$0	–	-1,532,224	–	-4.03%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-980,849	–	-4.10%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-674,578	–	-4.12%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-634,631	–	-4.12%	–
LNC	Exit	LINCOLN NATL CORP IND	$0	–	-785,273	–	-4.14%	–
BHI	Exit	BAKER HUGHES INC	$0	–	-673,059	–	-4.15%	–
MHFI	Exit	MCGRAW HILL FINL INC	$0	–	-528,033	–	-4.34%	–
AET	Exit	AETNA INC NEW	$0	–	-553,837	–	-4.45%	–
XRX	Exit	XEROX CORP	$0	–	-3,546,478	–	-4.58%	–

Q3 2013

			Value		Shares		↓ Weighting
XRX	Buy	XEROX CORP	$36,493,000	+19.7%	3,546,478	+5.5%	4.58%	+7.7%
AET	Buy	AETNA INC NEW	$35,457,000	+6.5%	553,837	+5.7%	4.45%	-4.1%
MHFI	Buy	MCGRAW HILL FINL INC	$34,634,000	+28.0%	528,033	+3.8%	4.34%	+15.2%
BHI	Buy	BAKER HUGHES INC	$33,047,000	+18.4%	673,059	+11.2%	4.15%	+6.6%
LNC	Sell	LINCOLN NATL CORP IND	$32,974,000	+0.9%	785,273	-12.3%	4.14%	-9.1%
TEL	Buy	TE CONNECTIVITY LTD	$32,861,000	+17.2%	634,631	+3.1%	4.12%	+5.5%
AIG	Buy	AMERICAN INTL GROUP INC	$32,805,000	+12.9%	674,578	+3.8%	4.12%	+1.7%
MSFT	Buy	MICROSOFT CORP	$32,672,000	+0.8%	980,849	+4.5%	4.10%	-9.3%
HPQ	Buy	HEWLETT PACKARD CO	$32,146,000	-7.6%	1,532,224	+9.2%	4.03%	-16.8%
BAC	Buy	BANK OF AMERICA CORPORATION	$32,020,000	+12.7%	2,320,304	+5.0%	4.02%	+1.5%
C	Buy	CITIGROUP INC	$31,769,000	+6.0%	654,905	+4.9%	3.99%	-4.5%
OMC	Buy	OMNICOM GROUP INC	$31,029,000	+20.6%	489,106	+19.5%	3.89%	+8.6%
SPLS	Buy	STAPLES INC	$30,822,000	-2.9%	2,103,916	+5.1%	3.87%	-12.6%
LLY	Buy	LILLY ELI & CO	$29,996,000	+8.7%	595,995	+6.1%	3.76%	-2.1%
BAX	Buy	BAXTER INTL INC	$29,501,000	+17.6%	449,088	+24.0%	3.70%	+5.9%
RHI	Buy	ROBERT HALF INTL INC	$27,787,000	+21.4%	711,932	+3.3%	3.49%	+9.3%
SEE	Buy	SEALED AIR CORP NEW	$27,451,000	+15.6%	1,009,602	+1.9%	3.44%	+4.1%
ALL	Sell	ALLSTATE CORP	$24,899,000	-5.2%	492,568	-9.8%	3.12%	-14.6%
AVP	Buy	AVON PRODS INC	$24,783,000	+36.1%	1,203,075	+38.9%	3.11%	+22.5%
JPM	Sell	JPMORGAN CHASE & CO	$23,255,000	-21.4%	449,897	-19.8%	2.92%	-29.2%
EA	Sell	ELECTRONIC ARTS INC	$22,930,000	+4.7%	897,473	-5.8%	2.88%	-5.7%
GE	Buy	GENERAL ELECTRIC CO	$21,709,000	+8.9%	908,718	+5.7%	2.72%	-1.9%
WCRX	Buy	WARNER CHILCOTT PLC IRELAND	$17,036,000	+22.6%	742,956	+6.3%	2.14%	+10.4%
RRD	Sell	DONNELLEY R R & SONS CO	$17,030,000	-11.2%	1,077,851	-21.2%	2.14%	-20.0%
WPX	Buy	WPX ENERGY INC	$16,905,000	+7.3%	877,724	+5.5%	2.12%	-3.4%
ISIL	Buy	INTERSIL CORPcl a	$16,583,000	+46.6%	1,476,693	+2.1%	2.08%	+32.0%
AA	New	ALCOA INC	$15,750,000	–	1,939,633	–	1.98%	–
UPLMQ	Buy	ULTRA PETROLEUM CORP	$15,179,000	+125.3%	737,937	+117.1%	1.90%	+102.8%
RS	New	RELIANCE STEEL & ALUMINUM CO	$11,571,000	–	157,926	–	1.45%	–
CCL	Buy	CARNIVAL CORPpaired ctf	$9,002,000	+2.7%	275,807	+7.9%	1.13%	-7.5%
HUM	New	HUMANA INC	$201,000	–	2,150	–	0.02%	–
MNKD	Exit	MANNKIND CORP	$0	–	-16,500	–	-0.02%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-10,000	–	-0.02%	–
SCHW	Exit	SCHWAB CHARLES CORP NEW	$0	–	-9,450	–	-0.03%	–
CIT	Exit	CIT GROUP INC	$0	–	-4,519	–	-0.03%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-5,822	–	-0.13%	–
WHR	Exit	WHIRLPOOL CORP	$0	–	-71,226	–	-1.14%	–
AVY	Exit	AVERY DENNISON CORP	$0	–	-216,042	–	-1.29%	–

Q2 2013

			Value		Shares		↓ Weighting
HPQ	New	HEWLETT PACKARD CO	$34,791,000	–	1,402,861	–	4.85%	–
AET	New	AETNA INC NEW	$33,302,000	–	524,111	–	4.64%	–
LNC	New	LINCOLN NATL CORP IND	$32,672,000	–	895,854	–	4.55%	–
MSFT	New	MICROSOFT CORP	$32,416,000	–	938,788	–	4.52%	–
SPLS	New	STAPLES INC	$31,755,000	–	2,002,228	–	4.42%	–
XRX	New	XEROX CORP	$30,499,000	–	3,362,660	–	4.25%	–
C	New	CITIGROUP INC	$29,957,000	–	624,491	–	4.17%	–
JPM	New	JPMORGAN CHASE & CO	$29,595,000	–	560,622	–	4.12%	–
AIG	New	AMERICAN INTL GROUP INC	$29,053,000	–	649,955	–	4.05%	–
BAC	New	BANK OF AMERICA CORPORATION	$28,417,000	–	2,209,689	–	3.96%	–
TEL	New	TE CONNECTIVITY LTD	$28,040,000	–	615,719	–	3.91%	–
BHI	New	BAKER HUGHES INC	$27,916,000	–	605,166	–	3.89%	–
LLY	New	LILLY ELI & CO	$27,597,000	–	561,825	–	3.84%	–
MHFI	New	MCGRAW HILL FINL INC	$27,061,000	–	508,766	–	3.77%	–
ALL	New	ALLSTATE CORP	$26,263,000	–	545,784	–	3.66%	–
OMC	New	OMNICOM GROUP INC	$25,726,000	–	409,199	–	3.58%	–
BAX	New	BAXTER INTL INC	$25,086,000	–	362,155	–	3.50%	–
SEE	New	SEALED AIR CORP NEW	$23,739,000	–	991,174	–	3.31%	–
RHI	New	ROBERT HALF INTL INC	$22,895,000	–	688,985	–	3.19%	–
EA	New	ELECTRONIC ARTS INC	$21,896,000	–	953,225	–	3.05%	–
GE	New	GENERAL ELECTRIC CO	$19,932,000	–	859,491	–	2.78%	–
RRD	New	DONNELLEY R R & SONS CO	$19,172,000	–	1,368,450	–	2.67%	–
AVP	New	AVON PRODS INC	$18,211,000	–	865,966	–	2.54%	–
WPX	New	WPX ENERGY INC	$15,759,000	–	832,047	–	2.20%	–
WCRX	New	WARNER CHILCOTT PLC IRELAND	$13,892,000	–	698,803	–	1.94%	–
ISIL	New	INTERSIL CORPcl a	$11,315,000	–	1,446,929	–	1.58%	–
AVY	New	AVERY DENNISON CORP	$9,238,000	–	216,042	–	1.29%	–
CCL	New	CARNIVAL CORPpaired ctf	$8,764,000	–	255,572	–	1.22%	–
WHR	New	WHIRLPOOL CORP	$8,145,000	–	71,226	–	1.14%	–
UPLMQ	New	ULTRA PETROLEUM CORP	$6,737,000	–	339,884	–	0.94%	–
PG	New	PROCTER & GAMBLE CO	$2,524,000	–	32,784	–	0.35%	–
PFE	New	PFIZER INC	$2,338,000	–	83,480	–	0.33%	–
JNJ	New	JOHNSON & JOHNSON	$1,804,000	–	21,014	–	0.25%	–
MMM	New	3M CO	$1,723,000	–	15,760	–	0.24%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$1,376,000	–	30,800	–	0.19%	–
EMR	New	EMERSON ELEC CO	$1,219,000	–	22,355	–	0.17%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$1,179,000	–	6,170	–	0.16%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$934,000	–	5,822	–	0.13%	–
ABBV	New	ABBVIE INC	$785,000	–	18,990	–	0.11%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$682,000	–	13,656	–	0.10%	–
PEP	New	PEPSICO INC	$667,000	–	8,160	–	0.09%	–
ABT	New	ABBOTT LABS	$662,000	–	18,990	–	0.09%	–
XOM	New	EXXON MOBIL CORP	$499,000	–	5,520	–	0.07%	–
CVX	New	CHEVRON CORP NEW	$299,000	–	2,528	–	0.04%	–
ORCL	New	ORACLE CORP	$271,000	–	8,837	–	0.04%	–
PGR	New	PROGRESSIVE CORP OHIO	$216,000	–	8,500	–	0.03%	–
CIT	New	CIT GROUP INC	$211,000	–	4,519	–	0.03%	–
SCHW	New	SCHWAB CHARLES CORP NEW	$201,000	–	9,450	–	0.03%	–
MU	New	MICRON TECHNOLOGY INC	$143,000	–	10,000	–	0.02%	–
MNKD	New	MANNKIND CORP	$107,000	–	16,500	–	0.02%	–

Compare quarters

Export Poplar Forest Capital LLC's holdings