Kerrisdale Advisers, LLC Activity Q4 2012-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
STX	Buy	SEAGATE TECHNOLOGY HLDNGS PL	$22,360,743	+202.7%	339,056	+184.0%	7.08%	+255.7%
V	Buy	VISA INC	$18,685,782	+2.1%	81,239	+5.5%	5.92%	+20.0%
	Sell	NOBLE CORP PLC	$17,970,316	-27.7%	354,794	-41.1%	5.69%	-15.1%
SYY	Buy	SYSCO CORP	$17,889,114	-10.4%	270,842	+0.7%	5.67%	+5.3%
AON	Sell	AON PLC	$17,176,203	-15.0%	52,977	-9.5%	5.44%	-0.1%
VAL	Sell	VALARIS LTDcl a	$11,851,264	-29.7%	158,059	-41.0%	3.75%	-17.4%
SHC	Buy	SOTERA HEALTH CO	$11,149,135	-7.4%	744,268	+16.4%	3.53%	+8.7%
WAB	Buy	WABTEC	$10,718,924	-2.3%	100,865	+0.9%	3.40%	+14.9%
DEO	Buy	DIAGEO PLCspon adr new	$6,685,353	-10.0%	44,814	+4.6%	2.12%	+5.7%
SPGI	Sell	S&P GLOBAL INC	$6,289,072	-12.6%	17,211	-4.1%	1.99%	+2.7%
BABA	Buy	ALIBABA GROUP HLDG LTDsponsored ads	$6,251,872	+88.4%	72,076	+81.1%	1.98%	+121.5%
ZM	Sell	ZOOM VIDEO COMMUNICATIONS INcl a	$6,200,741	-44.3%	88,658	-45.9%	1.96%	-34.5%
UNP	Sell	UNION PAC CORP	$6,187,298	-18.1%	30,385	-17.7%	1.96%	-3.8%
BAC	Sell	BANK AMERICA CORP	$5,499,246	-15.3%	200,849	-11.2%	1.74%	-0.4%
CAT	Sell	CATERPILLAR INC	$5,002,179	-30.8%	18,323	-37.6%	1.58%	-18.7%
NOC	Buy	NORTHROP GRUMMAN CORP	$4,928,807	+0.7%	11,197	+4.2%	1.56%	+18.3%
IMXI	Buy	INTERNATIONAL MNY EXPRESS IN	$4,548,786	-18.2%	268,682	+18.5%	1.44%	-3.9%
LRCX	Sell	LAM RESEARCH CORP	$4,478,898	-27.1%	7,146	-25.2%	1.42%	-14.3%
MSFT	Sell	MICROSOFT CORP	$4,340,615	-10.4%	13,747	-3.4%	1.38%	+5.3%
CRL	Buy	CHARLES RIV LABS INTL INC	$4,212,786	+341.0%	21,496	+373.1%	1.33%	+417.1%
TRU	Sell	TRANSUNION	$4,176,527	-12.1%	58,177	-4.1%	1.32%	+3.3%
CIB	Sell	BANCOLOMBIA S Aspon adr pref	$4,129,130	-10.8%	154,765	-10.8%	1.31%	+4.9%
AJG	Sell	GALLAGHER ARTHUR J & CO	$4,055,786	-26.4%	17,794	-29.1%	1.28%	-13.5%
CRM	New	SALESFORCE INC	$3,841,262	–	18,943	–	1.22%	–
MOS	Sell	MOSAIC CO NEW	$3,631,912	-27.1%	102,020	-28.4%	1.15%	-14.4%
UNH	Sell	UNITEDHEALTH GROUP INC	$3,549,498	-14.6%	7,040	-18.6%	1.12%	+0.4%
BLL	New	BALL CORP	$3,228,482	–	64,855	–	1.02%	–
KNX	Sell	KNIGHT-SWIFT TRANSN HLDGS INcl a	$3,159,550	-11.1%	63,002	-1.5%	1.00%	+4.5%
MCO	Sell	MOODYS CORP	$3,058,312	-52.6%	9,673	-47.9%	0.97%	-44.3%
WFC	Sell	WELLS FARGO CO NEW	$2,967,294	-21.7%	72,621	-18.2%	0.94%	-8.0%
LDOS	Sell	LEIDOS HOLDINGS INC	$2,222,438	-22.0%	24,115	-25.1%	0.70%	-8.3%
TLT	Sell	ISHARES TR20 yr tr bd etf	$2,207,938	-76.4%	24,895	-72.6%	0.70%	-72.2%
PMTS	Buy	CPI CARD GROUP INC	$2,178,878	+10.5%	117,650	+38.8%	0.69%	+29.9%
JOE	Sell	ST JOE CO	$2,053,837	-20.6%	37,803	-29.4%	0.65%	-6.7%
PNC	Sell	PNC FINL SVCS GROUP INC	$1,944,063	-17.8%	15,835	-15.6%	0.62%	-3.3%
SMG	Sell	SCOTTS MIRACLE-GRO COcl a	$1,615,517	-22.3%	31,260	-5.7%	0.51%	-8.6%
BL	Sell	BLACKLINE INC	$1,590,491	-7.7%	28,673	-10.5%	0.50%	+8.4%
BA	Buy	BOEING CO	$1,557,400	+41.4%	8,125	+55.8%	0.49%	+66.0%
CRON	New	CRONOS GROUP INC	$1,448,404	–	724,202	–	0.46%	–
USB	Sell	US BANCORP DEL	$1,371,031	-32.4%	41,471	-32.5%	0.43%	-20.7%
PYPL	Sell	PAYPAL HLDGS INC	$1,228,303	-91.1%	21,011	-89.8%	0.39%	-89.5%
LPI	Sell	VITAL ENERGY INC	$1,177,564	-35.4%	21,248	-47.3%	0.37%	-24.0%
RCMT	Sell	RCM TECHNOLOGIES INC	$1,172,107	-37.5%	59,985	-41.2%	0.37%	-26.7%
ATR	Sell	APTARGROUP INC	$1,151,118	-55.6%	9,206	-58.9%	0.36%	-47.8%
DE	Sell	DEERE & CO	$1,046,097	-74.1%	2,772	-72.2%	0.33%	-69.6%
LH	Sell	LABORATORY CORP AMER HLDGS	$1,024,149	-66.8%	5,094	-60.2%	0.32%	-61.1%
CCJ	Sell	CAMECO CORP	$960,874	-22.2%	24,240	-38.5%	0.30%	-8.7%
ADBE	Sell	ADOBE INC	$943,315	-78.9%	1,850	-79.8%	0.30%	-75.2%
CUTR	Sell	CUTERA INC	$901,110	-73.3%	149,686	-32.9%	0.28%	-68.7%
ASML	Sell	ASML HOLDING N V	$881,224	-30.6%	1,497	-14.6%	0.28%	-18.4%
CBRE	Buy	CBRE GROUP INCcl a	$871,326	+3.3%	11,797	+12.9%	0.28%	+21.6%
NXE	Sell	NEXGEN ENERGY LTD	$819,036	-2.1%	136,783	-22.8%	0.26%	+14.6%
UHAL	Sell	U HAUL HOLDING COMPANY	$693,803	-34.1%	12,714	-33.2%	0.22%	-22.5%
AMZN	New	AMAZON COM INC	$635,600	–	5,000	–	0.20%	–
WMG	Sell	WARNER MUSIC GROUP CORP	$573,364	+9.9%	18,260	-8.7%	0.18%	+29.1%
BAH	Sell	BOOZ ALLEN HAMILTON HLDG CORcl a	$532,582	-74.9%	4,874	-74.3%	0.17%	-70.4%
LQDA	New	LIQUIDIA CORPORATION	$508,760	–	80,246	–	0.16%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$478,778	–	1,120	–	0.15%	–
CDMO	New	AVID BIOSERVICES INC	$462,843	–	49,030	–	0.15%	–
KEYS	New	KEYSIGHT TECHNOLOGIES INC	$453,559	–	3,428	–	0.14%	–
ZI	New	ZOOMINFO TECHNOLOGIES INC	$449,196	–	27,390	–	0.14%	–
CC	New	CHEMOURS CO	$395,505	–	14,100	–	0.12%	–
JNPR	New	JUNIPER NETWORKS INC	$391,839	–	14,100	–	0.12%	–
WASH	Sell	WASHINGTON TR BANCORP INC	$388,394	-58.6%	14,751	-57.8%	0.12%	-51.4%
SSTK	New	SHUTTERSTOCK INC	$372,624	–	9,793	–	0.12%	–
LESL	New	LESLIES INC	$340,777	–	60,208	–	0.11%	–
GTX	New	GARRETT MOTION INC	$326,122	–	41,386	–	0.10%	–
	New	COMPOSECURE INC	$266,953	–	41,388	–	0.08%	–
KLXE	Sell	KLX ENERGY SERVICS HOLDNGS I	$206,593	-77.1%	17,434	-81.2%	0.06%	-73.3%
DNN	Sell	DENISON MINES CORP	$151,965	-24.2%	92,100	-42.6%	0.05%	-11.1%
LYFT	Exit	LYFT INC	$0	–	-43,300	–	-0.11%	–
	Exit	JACOBS SOLUTIONS INC	$0	–	-9,850	–	-0.32%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-23,689	–	-0.35%	–
HCCI	Exit	HERITAGE CRYSTAL CLEAN INC	$0	–	-42,434	–	-0.43%	–
CACI	Exit	CACI INTL INCcl a	$0	–	-6,996	–	-0.64%	–
ECL	Exit	ECOLAB INC	$0	–	-18,504	–	-0.93%	–

Q2 2023

			Value		Shares		↓ Weighting
	New	NOBLE CORP PLC	$24,870,975	–	602,057	–	6.70%	–
AON	New	AON PLC	$20,204,211	–	58,529	–	5.45%	–
SYY	New	SYSCO CORP	$19,961,284	–	269,020	–	5.38%	–
V	New	VISA INC	$18,294,272	–	77,035	–	4.93%	–
VAL	New	VALARIS LIMITEDcl a	$16,855,423	–	267,844	–	4.54%	–
PYPL	New	PAYPAL HLDGS INC	$13,780,479	–	206,511	–	3.72%	–
SHC	New	SOTERA HEALTH CO	$12,046,277	–	639,399	–	3.25%	–
ZM	New	ZOOM VIDEO COMMUNICATIONS INcl a	$11,130,216	–	163,969	–	3.00%	–
WAB	New	WABTEC	$10,966,890	–	99,999	–	2.96%	–
TLT	New	ISHARES TR20 yr tr bd etf	$9,343,349	–	90,765	–	2.52%	–
CSX	New	CSX CORP	$8,121,427	–	238,165	–	2.19%	–
UNP	New	UNION PAC CORP	$7,557,640	–	36,935	–	2.04%	–
DEO	New	DIAGEO PLCspon adr new	$7,431,710	–	42,839	–	2.00%	–
STX	New	SEAGATE TECHNOLOGY HLDNGS PL	$7,386,474	–	119,387	–	1.99%	–
CAT	New	CATERPILLAR INC	$7,226,242	–	29,369	–	1.95%	–
SPGI	New	S&P GLOBAL INC	$7,194,372	–	17,946	–	1.94%	–
GOOGL	New	ALPHABET INCcap stk cl a	$7,008,674	–	58,552	–	1.89%	–
BAC	New	BANK AMERICA CORP	$6,489,362	–	226,189	–	1.75%	–
MCO	New	MOODYS CORP	$6,452,988	–	18,558	–	1.74%	–
LRCX	New	LAM RESEARCH CORP	$6,141,884	–	9,554	–	1.66%	–
NSC	New	NORFOLK SOUTHN CORP	$5,820,476	–	25,668	–	1.57%	–
IMXI	New	INTERNATIONAL MNY EXPRESS IN	$5,561,981	–	226,742	–	1.50%	–
AJG	New	GALLAGHER ARTHUR J & CO	$5,507,913	–	25,085	–	1.48%	–
MSGE	New	SPHERE ENTERTAINMENT COcl a	$5,279,340	–	192,747	–	1.42%	–
MOS	New	MOSAIC CO NEW	$4,984,000	–	142,400	–	1.34%	–
NOC	New	NORTHROP GRUMMAN CORP	$4,896,204	–	10,742	–	1.32%	–
	New	MADISON SQUARE GARDEN ENTMT	$4,849,046	–	144,231	–	1.31%	–
MSFT	New	MICROSOFT CORP	$4,844,522	–	14,226	–	1.31%	–
TRU	New	TRANSUNION	$4,750,871	–	60,652	–	1.28%	–
CIB	New	BANCOLOMBIA S Aspon adr pref	$4,626,739	–	173,416	–	1.25%	–
ADBE	New	ADOBE SYSTEMS INCORPORATED	$4,479,148	–	9,160	–	1.21%	–
UNH	New	UNITEDHEALTH GROUP INC	$4,156,575	–	8,648	–	1.12%	–
KFY	New	KORN FERRY	$4,110,631	–	82,976	–	1.11%	–
DE	New	DEERE & CO	$4,041,770	–	9,975	–	1.09%	–
WFC	New	WELLS FARGO CO NEW	$3,790,880	–	88,821	–	1.02%	–
KNX	New	KNIGHT-SWIFT TRANSN HLDGS INcl a	$3,555,284	–	63,990	–	0.96%	–
ECL	New	ECOLAB INC	$3,454,512	–	18,504	–	0.93%	–
CUTR	New	CUTERA INC	$3,376,577	–	223,171	–	0.91%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$3,317,663	–	39,804	–	0.89%	–
LH	New	LABORATORY CORP AMER HLDGS	$3,087,817	–	12,795	–	0.83%	–
LDOS	New	LEIDOS HOLDINGS INC	$2,849,056	–	32,200	–	0.77%	–
	New	U HAUL HOLDING COMPANY	$2,608,542	–	51,481	–	0.70%	–
ATR	New	APTARGROUP INC	$2,593,990	–	22,389	–	0.70%	–
JOE	New	ST JOE CO	$2,588,027	–	53,538	–	0.70%	–
CACI	New	CACI INTL INCcl a	$2,384,517	–	6,996	–	0.64%	–
PNC	New	PNC FINL SVCS GROUP INC	$2,364,082	–	18,770	–	0.64%	–
TMUS	New	T-MOBILE US INC	$2,344,632	–	16,880	–	0.63%	–
BAH	New	BOOZ ALLEN HAMILTON HLDG CORcl a	$2,118,168	–	18,980	–	0.57%	–
SMG	New	SCOTTS MIRACLE-GRO COcl a	$2,079,114	–	33,165	–	0.56%	–
USB	New	US BANCORP DEL	$2,029,185	–	61,416	–	0.55%	–
PMTS	New	CPI CARD GROUP INC	$1,971,112	–	84,779	–	0.53%	–
RCMT	New	RCM TECHNOLOGIES INC	$1,876,487	–	101,983	–	0.51%	–
LPI	New	VITAL ENERGY INC	$1,822,028	–	40,355	–	0.49%	–
BL	New	BLACKLINE INC	$1,724,016	–	32,033	–	0.46%	–
HCCI	New	HERITAGE CRYSTAL CLEAN INC	$1,603,581	–	42,434	–	0.43%	–
NTES	New	NETEASE INCsponsored ads	$1,567,055	–	16,207	–	0.42%	–
SLGN	New	SILGAN HLDGS INC	$1,394,040	–	29,730	–	0.38%	–
JD	New	JD.COM INCspon adr cl a	$1,359,398	–	39,830	–	0.37%	–
FIS	New	FIDELITY NATL INFORMATION SV	$1,295,788	–	23,689	–	0.35%	–
ASML	New	ASML HOLDING N V	$1,269,762	–	1,752	–	0.34%	–
CCJ	New	CAMECO CORP	$1,234,590	–	39,406	–	0.33%	–
	New	JACOBS SOLUTIONS INC	$1,171,067	–	9,850	–	0.32%	–
BA	New	BOEING CO	$1,101,199	–	5,215	–	0.30%	–
UHAL	New	U HAUL HOLDING COMPANY	$1,053,237	–	19,039	–	0.28%	–
COP	New	CONOCOPHILLIPS	$968,754	–	9,350	–	0.26%	–
CRL	New	CHARLES RIV LABS INTL INC	$955,376	–	4,544	–	0.26%	–
WASH	New	WASHINGTON TR BANCORP INC	$937,036	–	34,951	–	0.25%	–
KLXE	New	KLX ENERGY SERVICS HOLDNGS I	$901,086	–	92,609	–	0.24%	–
CBRE	New	CBRE GROUP INCcl a	$843,581	–	10,452	–	0.23%	–
NXE	New	NEXGEN ENERGY LTD	$836,999	–	177,283	–	0.23%	–
EC	New	ECOPETROL S Asponsored ads	$820,000	–	80,000	–	0.22%	–
OBELF	New	OBSIDIAN ENERGY LTD	$525,187	–	90,000	–	0.14%	–
WMG	New	WARNER MUSIC GROUP CORP	$521,800	–	20,000	–	0.14%	–
OMAB	New	GRUPO AEROPORTUARIO DEL CENTspon adr	$477,734	–	5,631	–	0.13%	–
WB	New	WEIBO CORPsponsored adr	$456,569	–	34,826	–	0.12%	–
OXY	New	OCCIDENTAL PETE CORP	$414,540	–	7,050	–	0.11%	–
LYFT	New	LYFT INC	$415,247	–	43,300	–	0.11%	–
DNN	New	DENISON MINES CORP	$200,561	–	160,449	–	0.05%	–
	New	LEE ENTERPRISES INC	$183,737	–	13,763	–	0.05%	–
	New	GRUPO AVAL ACCIONES Y VALOREsponsored ads	$174,000	–	75,000	–	0.05%	–

Q4 2022

			Value		Shares		↓ Weighting
HEAR	Exit	TURTLE BEACH CORP	$0	–	-20,000	–	-0.03%	–
HCCI	Exit	HERITAGE CRYSTAL CLEAN INC	$0	–	-6,814	–	-0.05%	–
OMAB	Exit	GRUPO AEROPORTUARIO DEL CENTspon adr	$0	–	-5,631	–	-0.07%	–
ZIM	Exit	ZIM INTEGRATED SHIPPING SERV	$0	–	-17,718	–	-0.10%	–
OXY	Exit	OCCIDENTAL PETE CORP	$0	–	-7,050	–	-0.10%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-5,185	–	-0.11%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-4,440	–	-0.11%	–
ESEA	Exit	EUROSEAS LTD	$0	–	-22,185	–	-0.11%	–
CHK	Exit	CHESAPEAKE ENERGY CORP	$0	–	-4,880	–	-0.11%	–
NMM	Exit	NAVIOS MARITIME PARTNERS L P	$0	–	-19,370	–	-0.12%	–
CCK	Exit	CROWN HLDGS INC	$0	–	-6,171	–	-0.12%	–
	Exit	DIAMOND OFFSHORE DRILLING IN	$0	–	-89,209	–	-0.14%	–
WB	Exit	WEIBO CORPsponsored adr	$0	–	-34,826	–	-0.14%	–
SNPS	Exit	SYNOPSYS INC	$0	–	-1,995	–	-0.15%	–
BA	Exit	BOEING CO	$0	–	-5,030	–	-0.15%	–
CORN	Exit	TEUCRIUM COMMODITY TR	$0	–	-28,872	–	-0.19%	–
TWI	Exit	TITAN INTL INC ILL	$0	–	-67,095	–	-0.20%	–
GSL	Exit	GLOBAL SHIP LEASE INC NEW	$0	–	-53,473	–	-0.20%	–
SYY	Exit	SYSCO CORP	$0	–	-15,040	–	-0.26%	–
	Exit	JACOBS SOLUTIONS INC	$0	–	-9,850	–	-0.26%	–
CAT	Exit	CATERPILLAR INC	$0	–	-6,740	–	-0.27%	–
MATX	Exit	MATSON INC	$0	–	-18,070	–	-0.27%	–
AA	Exit	ALCOA CORP	$0	–	-35,550	–	-0.29%	–
NTES	Exit	NETEASE INCsponsored ads	$0	–	-16,207	–	-0.30%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-21,065	–	-0.31%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED	$0	–	-4,850	–	-0.32%	–
JD	Exit	JD.COM INCspon adr cl a	$0	–	-27,030	–	-0.33%	–
ROKU	Exit	ROKU INC	$0	–	-24,340	–	-0.33%	–
CRM	Exit	SALESFORCE INC	$0	–	-9,880	–	-0.34%	–
HBAN	Exit	HUNTINGTON BANCSHARES INC	$0	–	-118,685	–	-0.38%	–
DOCU	Exit	DOCUSIGN INC	$0	–	-30,467	–	-0.40%	–
FCNCA	Exit	FIRST CTZNS BANCSHARES INC Ncl a	$0	–	-2,140	–	-0.42%	–
BAH	Exit	BOOZ ALLEN HAMILTON HLDG CORcl a	$0	–	-18,980	–	-0.43%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-38,040	–	-0.46%	–
ASML	Exit	ASML HOLDING N V	$0	–	-5,352	–	-0.54%	–
FB	Exit	META PLATFORMS INCcl a	$0	–	-16,540	–	-0.54%	–
LDOS	Exit	LEIDOS HOLDINGS INC	$0	–	-25,715	–	-0.55%	–
MSGE	Exit	MADISON SQUARE GRDN ENTERTNMcl a	$0	–	-51,332	–	-0.55%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-11,174	–	-0.56%	–
UHAL	Exit	AMERCO	$0	–	-4,609	–	-0.57%	–
USB	Exit	US BANCORP DEL	$0	–	-61,416	–	-0.60%	–
AJG	Exit	GALLAGHER ARTHUR J & CO	$0	–	-14,485	–	-0.60%	–
SD	Exit	SANDRIDGE ENERGY INC	$0	–	-155,410	–	-0.62%	–
CBRE	Exit	CBRE GROUP INCcl a	$0	–	-38,379	–	-0.63%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-12,795	–	-0.64%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-35,015	–	-0.68%	–
PNC	Exit	PNC FINL SVCS GROUP INC	$0	–	-18,770	–	-0.68%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-38,374	–	-0.70%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-33,260	–	-0.77%	–
BC	Exit	BRUNSWICK CORP	$0	–	-52,732	–	-0.84%	–
CB	Exit	CHUBB LIMITED	$0	–	-19,715	–	-0.87%	–
TMUS	Exit	T-MOBILE US INC	$0	–	-28,651	–	-0.93%	–
KNX	Exit	KNIGHT-SWIFT TRANSN HLDGS INcl a	$0	–	-78,990	–	-0.94%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-8,170	–	-1.00%	–
NSC	Exit	NORFOLK SOUTHN CORP	$0	–	-21,588	–	-1.10%	–
AMAT	Exit	APPLIED MATLS INC	$0	–	-62,083	–	-1.24%	–
KFY	Exit	KORN FERRY	$0	–	-111,225	–	-1.27%	–
SSNC	Exit	SS&C TECHNOLOGIES HLDGS INC	$0	–	-132,026	–	-1.53%	–
MCO	Exit	MOODYS CORP	$0	–	-26,648	–	-1.57%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-162,372	–	-1.59%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-21,830	–	-1.62%	–
V	Exit	VISA INC	$0	–	-38,722	–	-1.67%	–
AON	Exit	AON PLC	$0	–	-26,701	–	-1.74%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-38,248	–	-2.16%	–
RNG	Exit	RINGCENTRAL INCcl a	$0	–	-262,917	–	-2.55%	–
TDW	Exit	TIDEWATER INC NEW	$0	–	-507,803	–	-2.68%	–
CSX	Exit	CSX CORP	$0	–	-446,810	–	-2.89%	–
BLK	Exit	BLACKROCK INC	$0	–	-24,303	–	-3.25%	–
JNPR	Exit	JUNIPER NETWORKS INC	$0	–	-512,225	–	-3.25%	–
BAC	Exit	BK OF AMERICA CORP	$0	–	-461,615	–	-3.39%	–
SCHW	Exit	SCHWAB CHARLES CORP	$0	–	-208,531	–	-3.64%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-280,803	–	-3.92%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-48,832	–	-4.24%	–
FICO	Exit	FAIR ISAAC CORP	$0	–	-45,984	–	-4.60%	–
DE	Exit	DEERE & CO	$0	–	-59,655	–	-4.84%	–
ZM	Exit	ZOOM VIDEO COMMUNICATIONS INcl a	$0	–	-275,093	–	-4.92%	–
UNP	Exit	UNION PAC CORP	$0	–	-129,909	–	-6.15%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-70,123	–	-6.23%	–
VAL	Exit	VALARIS LIMITEDcl a	$0	–	-555,046	–	-6.60%	–

Q3 2022

			Value		Shares		↓ Weighting
VAL	Buy	VALARIS LIMITEDcl a	$27,164,000	+16.1%	555,046	+0.2%	6.60%	-10.4%
LRCX	Buy	LAM RESEARCH CORP	$25,665,000	+791.8%	70,123	+938.4%	6.23%	+588.0%
UNP	Buy	UNION PAC CORP	$25,309,000	+107.7%	129,909	+127.4%	6.15%	+60.3%
ZM	Buy	ZOOM VIDEO COMMUNICATIONS INcl a	$20,244,000	+174.6%	275,093	+302.9%	4.92%	+111.8%
DE	Sell	DEERE & CO	$19,918,000	-7.2%	59,655	-16.8%	4.84%	-28.4%
FICO	Buy	FAIR ISAAC CORP	$18,946,000	+311.9%	45,984	+300.8%	4.60%	+217.7%
SPY	New	SPDR S&P 500 ETF TRtr unit	$17,442,000	–	48,832	–	4.24%	–
CTSH	Buy	COGNIZANT TECHNOLOGY SOLUTIOcl a	$16,129,000	+5.7%	280,803	+24.2%	3.92%	-18.4%
SCHW	Buy	SCHWAB CHARLES CORP	$14,987,000	+112.5%	208,531	+86.8%	3.64%	+64.0%
BAC	Buy	BK OF AMERICA CORP	$13,941,000	+117.8%	461,615	+124.5%	3.39%	+68.0%
JNPR	Buy	JUNIPER NETWORKS INC	$13,379,000	+272.3%	512,225	+306.2%	3.25%	+187.3%
BLK	Buy	BLACKROCK INC	$13,373,000	+92.9%	24,303	+113.5%	3.25%	+48.9%
CSX	Buy	CSX CORP	$11,903,000	+70.8%	446,810	+86.3%	2.89%	+31.8%
TDW	Buy	TIDEWATER INC NEW	$11,019,000	+36.2%	507,803	+32.4%	2.68%	+5.1%
RNG	Buy	RINGCENTRAL INCcl a	$10,506,000	-13.1%	262,917	+13.7%	2.55%	-32.9%
MSFT	Sell	MICROSOFT CORP	$8,908,000	-40.5%	38,248	-34.4%	2.16%	-54.1%
AON	Buy	AON PLC	$7,152,000	+8.2%	26,701	+9.0%	1.74%	-16.5%
V	Buy	VISA INC	$6,879,000	+42.8%	38,722	+58.2%	1.67%	+10.2%
SPGI	New	S&P GLOBAL INC	$6,666,000	–	21,830	–	1.62%	–
WFC	Buy	WELLS FARGO CO NEW	$6,531,000	+69.2%	162,372	+64.7%	1.59%	+30.5%
MCO	Buy	MOODYS CORP	$6,478,000	+211.6%	26,648	+248.5%	1.57%	+140.5%
KFY	Sell	KORN FERRY	$5,222,000	-47.4%	111,225	-35.0%	1.27%	-59.4%
AMAT	Buy	APPLIED MATLS INC	$5,086,000	-0.8%	62,083	+10.2%	1.24%	-23.4%
NSC	Buy	NORFOLK SOUTHN CORP	$4,526,000	+6.7%	21,588	+15.7%	1.10%	-17.7%
UNH	Sell	UNITEDHEALTH GROUP INC	$4,126,000	-12.0%	8,170	-10.5%	1.00%	-32.1%
KNX	New	KNIGHT-SWIFT TRANSN HLDGS INcl a	$3,865,000	–	78,990	–	0.94%	–
CB	New	CHUBB LIMITED	$3,586,000	–	19,715	–	0.87%	–
BC	New	BRUNSWICK CORP	$3,451,000	–	52,732	–	0.84%	–
GOOGL	Buy	ALPHABET INCcap stk cl a	$3,181,000	-12.2%	33,260	+1900.0%	0.77%	-32.3%
FIS	Buy	FIDELITY NATL INFORMATION SV	$2,900,000	+70.7%	38,374	+107.0%	0.70%	+31.6%
CBRE	Buy	CBRE GROUP INCcl a	$2,591,000	+179.2%	38,379	+204.4%	0.63%	+115.4%
SD	Buy	SANDRIDGE ENERGY INC	$2,535,000	+687.3%	155,410	+656.3%	0.62%	+509.9%
AJG	New	GALLAGHER ARTHUR J & CO	$2,480,000	–	14,485	–	0.60%	–
UHAL	Buy	AMERCO	$2,347,000	+39.6%	4,609	+31.2%	0.57%	+7.8%
SHW	New	SHERWIN WILLIAMS CO	$2,288,000	–	11,174	–	0.56%	–
MSGE	New	MADISON SQUARE GRDN ENTERTNMcl a	$2,263,000	–	51,332	–	0.55%	–
LDOS	Buy	LEIDOS HOLDINGS INC	$2,249,000	+43.2%	25,715	+64.9%	0.55%	+10.3%
FB	Buy	META PLATFORMS INCcl a	$2,244,000	+15.6%	16,540	+37.4%	0.54%	-10.8%
ASML	Buy	ASML HOLDING N V	$2,223,000	+69.2%	5,352	+93.8%	0.54%	+30.4%
MU	Buy	MICRON TECHNOLOGY INC	$1,906,000	+20.8%	38,040	+33.3%	0.46%	-6.8%
DOCU	Sell	DOCUSIGN INC	$1,629,000	-42.1%	30,467	-37.8%	0.40%	-55.3%
CRM	Sell	SALESFORCE INC	$1,421,000	-84.9%	9,880	-82.6%	0.34%	-88.3%
ROKU	Sell	ROKU INC	$1,373,000	-63.4%	24,340	-46.7%	0.33%	-71.8%
JD	Sell	JD.COM INCspon adr cl a	$1,360,000	-55.2%	27,030	-42.9%	0.33%	-65.5%
ADBE	Sell	ADOBE SYSTEMS INCORPORATED	$1,335,000	-84.6%	4,850	-79.5%	0.32%	-88.1%
DVN	New	DEVON ENERGY CORP NEW	$1,267,000	–	21,065	–	0.31%	–
CAT	New	CATERPILLAR INC	$1,106,000	–	6,740	–	0.27%	–
	New	JACOBS SOLUTIONS INC	$1,069,000	–	9,850	–	0.26%	–
SYY	New	SYSCO CORP	$1,063,000	–	15,040	–	0.26%	–
TWI	Buy	TITAN INTL INC ILL	$815,000	+82.3%	67,095	+126.4%	0.20%	+40.4%
CORN	Sell	TEUCRIUM COMMODITY TR	$781,000	-87.2%	28,872	-88.1%	0.19%	-90.1%
BA	Sell	BOEING CO	$609,000	-85.5%	5,030	-83.6%	0.15%	-88.8%
SNPS	Sell	SYNOPSYS INC	$609,000	-75.4%	1,995	-75.5%	0.15%	-81.0%
WB	Buy	WEIBO CORPsponsored adr	$596,000	+7.2%	34,826	+44.9%	0.14%	-17.1%
	Sell	DIAMOND OFFSHORE DRILLING IN	$591,000	-19.3%	89,209	-28.2%	0.14%	-37.4%
CCK	Sell	CROWN HLDGS INC	$500,000	-56.2%	6,171	-50.1%	0.12%	-66.3%
CHK	New	CHESAPEAKE ENERGY CORP	$460,000	–	4,880	–	0.11%	–
COP	New	CONOCOPHILLIPS	$454,000	–	4,440	–	0.11%	–
PYPL	Sell	PAYPAL HLDGS INC	$446,000	-85.3%	5,185	-88.1%	0.11%	-88.7%
OXY	Sell	OCCIDENTAL PETE CORP	$433,000	-92.9%	7,050	-93.1%	0.10%	-94.5%
OMAB	New	GRUPO AEROPORTUARIO DEL CENTspon adr	$282,000	–	5,631	–	0.07%	–
HCCI	New	HERITAGE CRYSTAL CLEAN INC	$201,000	–	6,814	–	0.05%	–
HEAR	New	TURTLE BEACH CORP	$136,000	–	20,000	–	0.03%	–
	Exit	JACKSON FINANCIAL INC	$0	–	-23,193	–	-0.20%	–
VLO	Exit	VALERO ENERGY CORP	$0	–	-6,357	–	-0.21%	–
MPC	Exit	MARATHON PETE CORP	$0	–	-8,355	–	-0.22%	–
TWLO	Exit	TWILIO INCcl a	$0	–	-9,675	–	-0.26%	–
UBER	Exit	UBER TECHNOLOGIES INC	$0	–	-53,051	–	-0.34%	–
J	Exit	JACOBS ENGR GROUP INC	$0	–	-9,850	–	-0.39%	–
ESTC	Exit	ELASTIC N V	$0	–	-21,600	–	-0.46%	–
CRL	Exit	CHARLES RIV LABS INTL INC	$0	–	-7,450	–	-0.50%	–
MGNI	Exit	MAGNITE INC	$0	–	-200,727	–	-0.56%	–
CDEV	Exit	CENTENNIAL RESOURCE DEV INCcl a	$0	–	-428,246	–	-0.81%	–
FIGS	Exit	FIGS INCcl a	$0	–	-825,058	–	-2.37%	–

Q2 2022

			Value		Shares		↓ Weighting
VAL	New	VALARIS LIMITEDcl a	$23,393,000	–	553,819	–	7.36%	–
DE	New	DEERE & CO	$21,463,000	–	71,670	–	6.76%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$15,258,000	–	226,073	–	4.80%	–
MSFT	New	MICROSOFT CORP	$14,984,000	–	58,342	–	4.72%	–
UNP	New	UNION PAC CORP	$12,183,000	–	57,124	–	3.84%	–
RNG	New	RINGCENTRAL INCcl a	$12,089,000	–	231,323	–	3.80%	–
KFY	New	KORN FERRY	$9,927,000	–	171,092	–	3.12%	–
CRM	New	SALESFORCE INC	$9,390,000	–	56,893	–	2.96%	–
ADBE	New	ADOBE SYSTEMS INCORPORATED	$8,670,000	–	23,686	–	2.73%	–
TDW	New	TIDEWATER INC NEW	$8,091,000	–	383,643	–	2.55%	–
SSNC	New	SS&C TECHNOLOGIES HLDGS INC	$7,667,000	–	132,026	–	2.41%	–
FIGS	New	FIGS INCcl a	$7,516,000	–	825,058	–	2.37%	–
ZM	New	ZOOM VIDEO COMMUNICATIONS INcl a	$7,372,000	–	68,276	–	2.32%	–
SCHW	New	SCHWAB CHARLES CORP	$7,052,000	–	111,611	–	2.22%	–
CSX	New	CSX CORP	$6,971,000	–	239,880	–	2.19%	–
BLK	New	BLACKROCK INC	$6,933,000	–	11,383	–	2.18%	–
AON	New	AON PLC	$6,607,000	–	24,500	–	2.08%	–
BAC	New	BK OF AMERICA CORP	$6,400,000	–	205,580	–	2.02%	–
CORN	New	TEUCRIUM COMMODITY TR	$6,106,000	–	242,687	–	1.92%	–
OXY	New	OCCIDENTAL PETE CORP	$6,059,000	–	102,904	–	1.91%	–
AMAT	New	APPLIED MATLS INC	$5,125,000	–	56,333	–	1.61%	–
V	New	VISA INC	$4,818,000	–	24,472	–	1.52%	–
UNH	New	UNITEDHEALTH GROUP INC	$4,689,000	–	9,130	–	1.48%	–
FICO	New	FAIR ISAAC CORP	$4,600,000	–	11,473	–	1.45%	–
NSC	New	NORFOLK SOUTHN CORP	$4,242,000	–	18,663	–	1.34%	–
BA	New	BOEING CO	$4,186,000	–	30,614	–	1.32%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$3,981,000	–	35,015	–	1.25%	–
WFC	New	WELLS FARGO CO NEW	$3,861,000	–	98,572	–	1.22%	–
TMUS	New	T-MOBILE US INC	$3,855,000	–	28,651	–	1.21%	–
ROKU	New	ROKU INC	$3,751,000	–	45,663	–	1.18%	–
GOOGL	New	ALPHABET INCcap stk cl a	$3,624,000	–	1,663	–	1.14%	–
JNPR	New	JUNIPER NETWORKS INC	$3,594,000	–	126,105	–	1.13%	–
JD	New	JD.COM INCspon adr cl a	$3,039,000	–	47,325	–	0.96%	–
PYPL	New	PAYPAL HLDGS INC	$3,031,000	–	43,404	–	0.95%	–
LH	New	LABORATORY CORP AMER HLDGS	$2,999,000	–	12,795	–	0.94%	–
PNC	New	PNC FINL SVCS GROUP INC	$2,961,000	–	18,770	–	0.93%	–
LRCX	New	LAM RESEARCH CORP	$2,878,000	–	6,753	–	0.91%	–
USB	New	US BANCORP DEL	$2,826,000	–	61,416	–	0.89%	–
DOCU	New	DOCUSIGN INC	$2,812,000	–	49,010	–	0.88%	–
CDEV	New	CENTENNIAL RESOURCE DEV INCcl a	$2,561,000	–	428,246	–	0.81%	–
SNPS	New	SYNOPSYS INC	$2,475,000	–	8,148	–	0.78%	–
MCO	New	MOODYS CORP	$2,079,000	–	7,646	–	0.65%	–
FB	New	META PLATFORMS INCcl a	$1,941,000	–	12,036	–	0.61%	–
MGNI	New	MAGNITE INC	$1,782,000	–	200,727	–	0.56%	–
BAH	New	BOOZ ALLEN HAMILTON HLDG CORcl a	$1,715,000	–	18,980	–	0.54%	–
FIS	New	FIDELITY NATL INFORMATION SV	$1,699,000	–	18,539	–	0.54%	–
UHAL	New	AMERCO	$1,681,000	–	3,514	–	0.53%	–
AA	New	ALCOA CORP	$1,620,000	–	35,550	–	0.51%	–
CRL	New	CHARLES RIV LABS INTL INC	$1,594,000	–	7,450	–	0.50%	–
MU	New	MICRON TECHNOLOGY INC	$1,578,000	–	28,540	–	0.50%	–
LDOS	New	LEIDOS HOLDINGS INC	$1,571,000	–	15,595	–	0.50%	–
NTES	New	NETEASE INCsponsored ads	$1,513,000	–	16,207	–	0.48%	–
ESTC	New	ELASTIC N V	$1,462,000	–	21,600	–	0.46%	–
HBAN	New	HUNTINGTON BANCSHARES INC	$1,428,000	–	118,685	–	0.45%	–
FCNCA	New	FIRST CTZNS BANCSHARES INC Ncl a	$1,399,000	–	2,140	–	0.44%	–
MATX	New	MATSON INC	$1,317,000	–	18,070	–	0.42%	–
ASML	New	ASML HOLDING N V	$1,314,000	–	2,762	–	0.41%	–
J	New	JACOBS ENGR GROUP INC	$1,252,000	–	9,850	–	0.39%	–
CCK	New	CROWN HLDGS INC	$1,141,000	–	12,377	–	0.36%	–
UBER	New	UBER TECHNOLOGIES INC	$1,085,000	–	53,051	–	0.34%	–
CBRE	New	CBRE GROUP INCcl a	$928,000	–	12,607	–	0.29%	–
GSL	New	GLOBAL SHIP LEASE INC NEW	$883,000	–	53,473	–	0.28%	–
ZIM	New	ZIM INTEGRATED SHIPPING SERV	$837,000	–	17,718	–	0.26%	–
TWLO	New	TWILIO INCcl a	$811,000	–	9,675	–	0.26%	–
	New	DIAMOND OFFSHORE DRILLING IN	$732,000	–	124,209	–	0.23%	–
MPC	New	MARATHON PETE CORP	$687,000	–	8,355	–	0.22%	–
VLO	New	VALERO ENERGY CORP	$676,000	–	6,357	–	0.21%	–
	New	JACKSON FINANCIAL INC	$620,000	–	23,193	–	0.20%	–
WB	New	WEIBO CORPsponsored adr	$556,000	–	24,040	–	0.18%	–
ESEA	New	EUROSEAS LTD	$530,000	–	22,185	–	0.17%	–
TWI	New	TITAN INTL INC ILL	$447,000	–	29,630	–	0.14%	–
NMM	New	NAVIOS MARITIME PARTNERS L P	$446,000	–	19,370	–	0.14%	–
SD	New	SANDRIDGE ENERGY INC	$322,000	–	20,550	–	0.10%	–

Q4 2021

			Value		Shares		↓ Weighting
XLK	Exit	SELECT SECTOR SPDR TRtechnology	$0	–	-2,000	–	-0.03%	–
VMEO	Exit	VIMEO INC	$0	–	-14,773	–	-0.05%	–
ABUS	Exit	ARBUTUS BIOPHARMA CORP	$0	–	-100,000	–	-0.05%	–
FUTU	Exit	FUTU HLDGS LTDspon ads cl a	$0	–	-6,653	–	-0.07%	–
LIZI	Exit	LIZHI INCads	$0	–	-273,640	–	-0.09%	–
ACTG	Exit	ACACIA RESH CORP	$0	–	-150,000	–	-0.11%	–
DIDI	Exit	DIDI GLOBAL INCsponsored ads	$0	–	-135,500	–	-0.11%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-17,764	–	-0.15%	–
IQ	Exit	IQIYI INCsponsored ads	$0	–	-200,000	–	-0.17%	–
SE	Exit	SEA LTDsponsord ads	$0	–	-5,046	–	-0.17%	–
U	Exit	UNITY SOFTWARE INC	$0	–	-12,994	–	-0.18%	–
FCNCA	Exit	FIRST CTZNS BANCSHARES INC Ncl a	$0	–	-2,140	–	-0.20%	–
HBAN	Exit	HUNTINGTON BANCSHARES INC	$0	–	-118,685	–	-0.20%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-5,000	–	-0.21%	–
BQ	Exit	BOQII HLDG LTDsponsored ads	$0	–	-939,029	–	-0.24%	–
USB	Exit	US BANCORP DEL	$0	–	-61,416	–	-0.40%	–
PNC	Exit	PNC FINL SVCS GROUP INC	$0	–	-18,770	–	-0.40%	–
FICO	Exit	FAIR ISAAC CORP	$0	–	-9,285	–	-0.40%	–
XME	Exit	SPDR SER TRs&p metals mng	$0	–	-89,000	–	-0.40%	–
TME	Exit	TENCENT MUSIC ENTMT GROUPspon ads	$0	–	-521,100	–	-0.41%	–
PRQR	Exit	PROQR THRAPEUTICS N V	$0	–	-453,182	–	-0.41%	–
TIGR	Exit	UP FINTECH HLDG LTDsponsored ads	$0	–	-426,341	–	-0.49%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-49,383	–	-0.62%	–
ROKU	Exit	ROKU INC	$0	–	-24,333	–	-0.83%	–
JD	Exit	JD.COM INCspon adr cl a	$0	–	-107,069	–	-0.84%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-22,889	–	-0.84%	–
CANO	Exit	CANO HEALTH INC	$0	–	-776,680	–	-1.07%	–
AFIB	Exit	ACUTUS MED INC	$0	–	-1,327,102	–	-1.27%	–
AAPL	Exit	APPLE INC	$0	–	-87,000	–	-1.34%	–
CRL	Exit	CHARLES RIV LABS INTL INC	$0	–	-34,515	–	-1.54%	–
PLAN	Exit	ANAPLAN INC	$0	–	-238,121	–	-1.57%	–
NWSA	Exit	NEWS CORP NEWcl a	$0	–	-651,376	–	-1.66%	–
IAC	Exit	IAC INTERACTIVECORP NEW	$0	–	-118,128	–	-1.67%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-66,383	–	-2.03%	–
MAXR	Exit	MAXAR TECHNOLOGIES INC	$0	–	-708,334	–	-2.18%	–
WSC	Exit	WILLSCOT MOBIL MINI HLDNG CO	$0	–	-740,226	–	-2.54%	–
SSNC	Exit	SS&C TECHNOLOGIES HLDGS INC	$0	–	-348,152	–	-2.62%	–
SNPS	Exit	SYNOPSYS INC	$0	–	-83,002	–	-2.69%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-97,944	–	-2.76%	–
GDDY	Exit	GODADDY INCcl a	$0	–	-382,514	–	-2.89%	–
BLK	Exit	BLACKROCK INC	$0	–	-34,312	–	-3.12%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-194,843	–	-3.13%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED	$0	–	-51,650	–	-3.22%	–
TWTR	Exit	TWITTER INC	$0	–	-504,981	–	-3.31%	–
KFY	Exit	KORN FERRY	$0	–	-440,882	–	-3.46%	–
CRM	Exit	SALESFORCE COM INC	$0	–	-127,313	–	-3.74%	–
ESTC	Exit	ELASTIC N V	$0	–	-239,185	–	-3.86%	–
AMZN	Exit	AMAZON COM INC	$0	–	-11,102	–	-3.95%	–
FOUR	Exit	SHIFT4 PMTS INCcl a	$0	–	-488,201	–	-4.10%	–
CBRE	Exit	CBRE GROUP INCcl a	$0	–	-398,688	–	-4.21%	–
IQV	Exit	IQVIA HLDGS INC	$0	–	-162,909	–	-4.23%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-15,040	–	-4.36%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-95,740	–	-4.41%	–
EVBG	Exit	EVERBRIDGE INC	$0	–	-277,918	–	-4.55%	–
RNG	Exit	RINGCENTRAL INCcl a	$0	–	-218,438	–	-5.15%	–
UBER	Exit	UBER TECHNOLOGIES INC	$0	–	-1,090,199	–	-5.30%	–

Q3 2021

			Value		Shares		↓ Weighting
UBER	New	UBER TECHNOLOGIES INC	$48,841,000	–	1,090,199	–	5.30%	–
RNG	Buy	RINGCENTRAL INCcl a	$47,510,000	+328.1%	218,438	+472.0%	5.15%	+417.1%
EVBG	Buy	EVERBRIDGE INC	$41,977,000	+107.6%	277,918	+87.0%	4.55%	+150.6%
SPGI	New	S&P GLOBAL INC	$40,679,000	–	95,740	–	4.41%	–
GOOGL	Sell	ALPHABET INCcap stk cl a	$40,210,000	-4.3%	15,040	-12.6%	4.36%	+15.5%
IQV	Buy	IQVIA HLDGS INC	$39,023,000	+0.9%	162,909	+2.0%	4.23%	+21.8%
CBRE	Buy	CBRE GROUP INCcl a	$38,816,000	+40.8%	398,688	+24.0%	4.21%	+70.0%
FOUR	Buy	SHIFT4 PMTS INCcl a	$37,845,000	+270.8%	488,201	+348.3%	4.10%	+347.9%
AMZN	Buy	AMAZON COM INC	$36,471,000	+18.2%	11,102	+23.8%	3.95%	+42.8%
ESTC	Buy	ELASTIC N V	$35,636,000	+1474.0%	239,185	+1440.0%	3.86%	+1803.0%
CRM	Sell	SALESFORCE COM INC	$34,530,000	-19.1%	127,313	-27.1%	3.74%	-2.3%
KFY	Buy	KORN FERRY	$31,902,000	+112.4%	440,882	+112.9%	3.46%	+156.3%
TWTR	Sell	TWITTER INC	$30,496,000	-41.9%	504,981	-33.9%	3.31%	-29.9%
ADBE	Sell	ADOBE SYSTEMS INCORPORATED	$29,736,000	-16.2%	51,650	-14.8%	3.22%	+1.2%
BABA	Sell	ALIBABA GROUP HLDG LTDsponsored ads	$28,847,000	-40.0%	194,843	-8.1%	3.13%	-27.6%
BLK	Sell	BLACKROCK INC	$28,776,000	-18.8%	34,312	-15.3%	3.12%	-2.0%
GDDY	Sell	GODADDY INCcl a	$26,661,000	-21.7%	382,514	-2.3%	2.89%	-5.4%
PYPL	Sell	PAYPAL HLDGS INC	$25,486,000	-28.2%	97,944	-19.5%	2.76%	-13.2%
SNPS	Sell	SYNOPSYS INC	$24,852,000	-25.7%	83,002	-31.6%	2.69%	-10.3%
SSNC	Sell	SS&C TECHNOLOGIES HLDGS INC	$24,162,000	-17.9%	348,152	-14.7%	2.62%	-0.9%
WSC	Buy	WILLSCOT MOBIL MINI HLDNG CO	$23,480,000	+96.4%	740,226	+72.5%	2.54%	+137.0%
MAXR	Buy	MAXAR TECHNOLOGIES INC	$20,060,000	+23.5%	708,334	+74.1%	2.18%	+49.1%
IAC	Sell	IAC INTERACTIVECORP NEW	$15,391,000	-72.0%	118,128	-66.9%	1.67%	-66.2%
NWSA	Buy	NEWS CORP NEWcl a	$15,327,000	+6.5%	651,376	+16.6%	1.66%	+28.5%
PLAN	Sell	ANAPLAN INC	$14,499,000	-54.2%	238,121	-59.9%	1.57%	-44.7%
CRL	Sell	CHARLES RIV LABS INTL INC	$14,243,000	-34.1%	34,515	-41.0%	1.54%	-20.5%
AFIB	Buy	ACUTUS MED INC	$11,732,000	-22.7%	1,327,102	+48.4%	1.27%	-6.7%
CANO	Sell	CANO HEALTH INC	$9,848,000	-28.0%	776,680	-31.3%	1.07%	-13.0%
FB	Sell	FACEBOOK INCcl a	$7,768,000	-83.3%	22,889	-82.9%	0.84%	-79.8%
JD	Sell	JD.COM INCspon adr cl a	$7,735,000	-69.9%	107,069	-66.7%	0.84%	-63.6%
ROKU	New	ROKU INC	$7,625,000	–	24,333	–	0.83%	–
INFO	Sell	IHS MARKIT LTD	$5,759,000	-92.5%	49,383	-92.8%	0.62%	-91.0%
TIGR	Buy	UP FINTECH HLDG LTDsponsored ads	$4,515,000	+265.3%	426,341	+899.8%	0.49%	+340.5%
TME	Buy	TENCENT MUSIC ENTMT GROUPspon ads	$3,778,000	+95.2%	521,100	+316.9%	0.41%	+135.6%
XME	Sell	SPDR SER TRs&p metals mng	$3,715,000	-46.2%	89,000	-44.5%	0.40%	-35.0%
FICO	New	FAIR ISAAC CORP	$3,695,000	–	9,285	–	0.40%	–
PNC	New	PNC FINL SVCS GROUP INC	$3,672,000	–	18,770	–	0.40%	–
USB	New	US BANCORP DEL	$3,651,000	–	61,416	–	0.40%	–
BQ	Buy	BOQII HLDG LTDsponsored ads	$2,169,000	-47.1%	939,029	+2.8%	0.24%	-36.1%
HBAN	New	HUNTINGTON BANCSHARES INC	$1,835,000	–	118,685	–	0.20%	–
FCNCA	New	FIRST CTZNS BANCSHARES INC Ncl a	$1,804,000	–	2,140	–	0.20%	–
U	Sell	UNITY SOFTWARE INC	$1,640,000	-92.8%	12,994	-93.8%	0.18%	-91.4%
IQ	New	IQIYI INCsponsored ads	$1,606,000	–	200,000	–	0.17%	–
SE	Sell	SEA LTDsponsord ads	$1,608,000	-95.4%	5,046	-96.0%	0.17%	-94.4%
ATVI	Sell	ACTIVISION BLIZZARD INC	$1,375,000	-96.0%	17,764	-95.1%	0.15%	-95.2%
DIDI	New	DIDI GLOBAL INCsponsored ads	$1,056,000	–	135,500	–	0.11%	–
LIZI	New	LIZHI INCads	$867,000	–	273,640	–	0.09%	–
ABUS	New	ARBUTUS BIOPHARMA CORP	$429,000	–	100,000	–	0.05%	–
PRTS	Exit	CARPARTS COM INC	$0	–	-16,022	–	-0.03%	–
KRE	Exit	SPDR SER TRs&p regl bkg	$0	–	-25,000	–	-0.15%	–
PD	Exit	PAGERDUTY INC	$0	–	-42,906	–	-0.16%	–
GBT	Exit	GLOBAL BLOOD THERAPEUTICS IN	$0	–	-84,132	–	-0.26%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-10,000	–	-0.33%	–
V	Exit	VISA INC	$0	–	-21,150	–	-0.44%	–
XLI	Exit	SELECT SECTOR SPDR TRsbi int-inds	$0	–	-77,960	–	-0.72%	–
BA	Exit	BOEING CO	$0	–	-90,051	–	-1.94%	–
NTES	Exit	NETEASE INCsponsored ads	$0	–	-201,027	–	-2.08%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-196,408	–	-2.50%	–

Q2 2021

			Value		Shares		↓ Weighting
INFO	New	IHS MARKIT LTD	$76,966,000	–	683,170	–	6.91%	–
IAC	New	IAC INTERACTIVECORP NEW	$55,038,000	–	356,996	–	4.94%	–
TWTR	New	TWITTER INC	$52,533,000	–	763,457	–	4.72%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$48,078,000	–	212,003	–	4.32%	–
FB	New	FACEBOOK INCcl a	$46,491,000	–	133,707	–	4.17%	–
CRM	New	SALESFORCE COM INC	$42,670,000	–	174,683	–	3.83%	–
GOOGL	New	ALPHABET INCcap stk cl a	$42,038,000	–	17,216	–	3.77%	–
IQV	New	IQVIA HLDGS INC	$38,687,000	–	159,652	–	3.47%	–
ADBE	New	ADOBE SYSTEMS INCORPORATED	$35,499,000	–	60,616	–	3.19%	–
PYPL	New	PAYPAL HLDGS INC	$35,476,000	–	121,709	–	3.18%	–
BLK	New	BLACKROCK INC	$35,443,000	–	40,508	–	3.18%	–
SE	New	SEA LTDsponsord ads	$34,684,000	–	126,308	–	3.11%	–
ATVI	New	ACTIVISION BLIZZARD INC	$34,426,000	–	360,711	–	3.09%	–
GDDY	New	GODADDY INCcl a	$34,041,000	–	391,454	–	3.06%	–
SNPS	New	SYNOPSYS INC	$33,470,000	–	121,360	–	3.00%	–
PLAN	New	ANAPLAN INC	$31,651,000	–	593,824	–	2.84%	–
AMZN	New	AMAZON COM INC	$30,844,000	–	8,966	–	2.77%	–
SSNC	New	SS&C TECHNOLOGIES HLDGS INC	$29,427,000	–	408,373	–	2.64%	–
FIS	New	FIDELITY NATL INFORMATION SV	$27,825,000	–	196,408	–	2.50%	–
CBRE	New	CBRE GROUP INCcl a	$27,569,000	–	321,585	–	2.48%	–
JD	New	JD.COM INCspon adr cl a	$25,689,000	–	321,876	–	2.31%	–
NTES	New	NETEASE INCsponsored ads	$23,168,000	–	201,027	–	2.08%	–
U	New	UNITY SOFTWARE INC	$22,935,000	–	208,823	–	2.06%	–
CRL	New	CHARLES RIV LABS INTL INC	$21,623,000	–	58,454	–	1.94%	–
BA	New	BOEING CO	$21,573,000	–	90,051	–	1.94%	–
EVBG	New	EVERBRIDGE INC	$20,222,000	–	148,603	–	1.82%	–
MSFT	New	MICROSOFT CORP	$17,983,000	–	66,383	–	1.62%	–
MAXR	New	MAXAR TECHNOLOGIES INC	$16,245,000	–	406,947	–	1.46%	–
AFIB	New	ACUTUS MED INC	$15,185,000	–	894,287	–	1.36%	–
KFY	New	KORN FERRY	$15,023,000	–	207,069	–	1.35%	–
NWSA	New	NEWS CORP NEWcl a	$14,398,000	–	558,699	–	1.29%	–
CANO	New	CANO HEALTH INC	$13,670,000	–	1,129,718	–	1.23%	–
WSC	New	WILLSCOT MOBIL MINI HLDNG CO	$11,957,000	–	429,038	–	1.07%	–
AAPL	New	APPLE INC	$11,916,000	–	87,000	–	1.07%	–
RNG	New	RINGCENTRAL INCcl a	$11,097,000	–	38,190	–	1.00%	–
FOUR	New	SHIFT4 PMTS INCcl a	$10,206,000	–	108,903	–	0.92%	–
XLI	New	SELECT SECTOR SPDR TRsbi int-inds	$7,983,000	–	77,960	–	0.72%	–
XME	New	SPDR SER TRs&p metals mng	$6,901,000	–	160,275	–	0.62%	–
V	New	VISA INC	$4,945,000	–	21,150	–	0.44%	–
BQ	New	BOQII HLDG LTDsponsored ads	$4,101,000	–	913,269	–	0.37%	–
MA	New	MASTERCARD INCORPORATEDcl a	$3,651,000	–	10,000	–	0.33%	–
PRQR	New	PROQR THRAPEUTICS N V	$3,054,000	–	453,182	–	0.27%	–
GBT	New	GLOBAL BLOOD THERAPEUTICS IN	$2,946,000	–	84,132	–	0.26%	–
ESTC	New	ELASTIC N V	$2,264,000	–	15,531	–	0.20%	–
UNH	New	UNITEDHEALTH GROUP INC	$2,002,000	–	5,000	–	0.18%	–
TME	New	TENCENT MUSIC ENTMT GROUPspon ads	$1,935,000	–	125,000	–	0.17%	–
PD	New	PAGERDUTY INC	$1,827,000	–	42,906	–	0.16%	–
KRE	New	SPDR SER TRs&p regl bkg	$1,638,000	–	25,000	–	0.15%	–
TIGR	New	UP FINTECH HLDG LTDsponsored ads	$1,236,000	–	42,641	–	0.11%	–
FUTU	New	FUTU HLDGS LTDspon ads cl a	$1,191,000	–	6,653	–	0.11%	–
ACTG	New	ACACIA RESH CORP	$1,014,000	–	150,000	–	0.09%	–
VMEO	New	VIMEO INC	$724,000	–	14,773	–	0.06%	–
PRTS	New	CARPARTS COM INC	$326,000	–	16,022	–	0.03%	–
XLK	New	SELECT SECTOR SPDR TRtechnology	$295,000	–	2,000	–	0.03%	–

Q4 2020

			Value		Shares		↓ Weighting
VSTM	Exit	VERASTEM INC	$0	–	-89,188	–	-0.01%	–
XLK	Exit	SELECT SECTOR SPDR TRtechnology	$0	–	-2,000	–	-0.02%	–
EB	Exit	EVENTBRITE INC	$0	–	-46,298	–	-0.04%	–
DESP	Exit	DESPEGAR COM CORP	$0	–	-88,800	–	-0.04%	–
YNDX	Exit	YANDEX N V	$0	–	-9,859	–	-0.05%	–
XBI	Exit	SPDR SER TRs&p biotech	$0	–	-7,724	–	-0.06%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-8,836	–	-0.07%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-4,000	–	-0.13%	–
PAGS	Exit	PAGSEGURO DIGITAL LTD	$0	–	-59,203	–	-0.17%	–
CBRE	Exit	CBRE GROUP INCcl a	$0	–	-53,900	–	-0.19%	–
CTXS	Exit	CITRIX SYS INC	$0	–	-20,000	–	-0.21%	–
MSGE	Exit	MADISON SQUARE GRDN ENTERTNMcl a	$0	–	-49,000	–	-0.25%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-10,000	–	-0.25%	–
CSGP	Exit	COSTAR GROUP INC	$0	–	-4,900	–	-0.31%	–
V	Exit	VISA INC	$0	–	-21,150	–	-0.32%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-34,999	–	-0.34%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-15,000	–	-0.35%	–
J	Exit	JACOBS ENGR GROUP INC	$0	–	-53,101	–	-0.37%	–
NOMD	Exit	NOMAD FOODS LTD	$0	–	-561,583	–	-0.37%	–
CRM	Exit	SALESFORCE COM INC	$0	–	-25,000	–	-0.47%	–
BRO	Exit	BROWN & BROWN INC	$0	–	-170,045	–	-0.58%	–
VRT	Exit	VERTIV HOLDINGS CO	$0	–	-474,400	–	-0.62%	–
AAPL	Exit	APPLE INC	$0	–	-72,000	–	-0.62%	–
ANGI	Exit	ANGI HOMESERVICES INC	$0	–	-800,201	–	-0.67%	–
IRDM	Exit	IRIDIUM COMMUNICATIONS INC	$0	–	-355,135	–	-0.68%	–
SERV	Exit	SERVICEMASTER GLOBAL HLDGS I	$0	–	-265,158	–	-0.79%	–
POOL	Exit	POOL CORP	$0	–	-33,786	–	-0.85%	–
NTES	Exit	NETEASE INCsponsored ads	$0	–	-24,994	–	-0.85%	–
TME	Exit	TENCENT MUSIC ENTMT GROUPspon ads	$0	–	-825,000	–	-0.91%	–
UPWK	Exit	UPWORK INC	$0	–	-698,206	–	-0.91%	–
PD	Exit	PAGERDUTY INC	$0	–	-454,304	–	-0.92%	–
GLD	Exit	SPDR GOLD TR	$0	–	-75,000	–	-1.00%	–
KFY	Exit	KORN FERRY	$0	–	-493,997	–	-1.07%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-81,152	–	-1.14%	–
CPRT	Exit	COPART INC	$0	–	-150,000	–	-1.18%	–
GDDY	Exit	GODADDY INCcl a	$0	–	-212,785	–	-1.21%	–
DBX	Exit	DROPBOX INCcl a	$0	–	-859,130	–	-1.24%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-55,000	–	-1.49%	–
CNC	Exit	CENTENE CORP DEL	$0	–	-360,353	–	-1.58%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-107,229	–	-1.58%	–
LDOS	Exit	LEIDOS HOLDINGS INC	$0	–	-251,618	–	-1.68%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-15,326	–	-1.68%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-108,675	–	-1.71%	–
AMZN	Exit	AMAZON COM INC	$0	–	-7,296	–	-1.72%	–
HUYA	Exit	HUYA INC	$0	–	-1,036,748	–	-1.86%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-312,286	–	-1.90%	–
IAC	Exit	IAC INTERACTIVECORP NEW	$0	–	-233,878	–	-2.10%	–
SE	Exit	SEA LTDsponsord ads	$0	–	-190,047	–	-2.19%	–
SNPS	Exit	SYNOPSYS INC	$0	–	-139,596	–	-2.24%	–
WMT	Exit	WALMART INC	$0	–	-217,933	–	-2.29%	–
JD	Exit	JD.COM INCspon adr cl a	$0	–	-399,910	–	-2.33%	–
AON	Exit	AON PLC	$0	–	-163,636	–	-2.53%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED	$0	–	-70,221	–	-2.58%	–
VICI	Exit	VICI PPTYS INC	$0	–	-1,528,979	–	-2.68%	–
IQV	Exit	IQVIA HLDGS INC	$0	–	-228,596	–	-2.70%	–
SSNC	Exit	SS&C TECHNOLOGIES HLDGS INC	$0	–	-641,985	–	-2.91%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-268,093	–	-2.96%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-151,037	–	-2.96%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-509,822	–	-3.00%	–
CCK	Exit	CROWN HLDGS INC	$0	–	-541,474	–	-3.12%	–
TDG	Exit	TRANSDIGM GROUP INC	$0	–	-91,860	–	-3.27%	–
XLC	Exit	SELECT SECTOR SPDR TRput	$0	–	-800,000	–	-3.56%	–
QQQ	Exit	INVESCO QQQ TRput	$0	–	-177,500	–	-3.70%	–
CRL	Exit	CHARLES RIV LABS INTL INC	$0	–	-223,837	–	-3.80%	–
SPY	Exit	SPDR S&P 500 ETF TRput	$0	–	-185,000	–	-4.64%	–
TWTR	Exit	TWITTER INC	$0	–	-2,984,709	–	-9.96%	–

Q3 2020

			Value		Shares		↓ Weighting
TWTR	Buy	TWITTER INC	$132,820,000	+50.2%	2,984,709	+0.6%	9.96%	+0.1%
SPY	New	SPDR S&P 500 ETF TRput	$61,955,000	–	185,000	–	4.64%	–
CRL	Sell	CHARLES RIV LABS INTL INC	$50,688,000	+15.1%	223,837	-11.4%	3.80%	-23.3%
QQQ	New	INVESCO QQQ TRput	$49,317,000	–	177,500	–	3.70%	–
XLC	New	SELECT SECTOR SPDR TRput	$47,520,000	–	800,000	–	3.56%	–
CCK	Sell	CROWN HLDGS INC	$41,618,000	-1.7%	541,474	-16.7%	3.12%	-34.5%
INFO	Buy	IHS MARKIT LTD	$40,026,000	+28.5%	509,822	+23.6%	3.00%	-14.3%
FB	Buy	FACEBOOK INCcl a	$39,557,000	+85.3%	151,037	+60.6%	2.96%	+23.5%
FIS	Buy	FIDELITY NATL INFORMATION SV	$39,466,000	+194.3%	268,093	+168.1%	2.96%	+96.2%
SSNC	Buy	SS&C TECHNOLOGIES HLDGS INC	$38,853,000	+25.8%	641,985	+17.4%	2.91%	-16.2%
IQV	Buy	IQVIA HLDGS INC	$36,034,000	+79.7%	228,596	+61.7%	2.70%	+19.8%
VICI	Sell	VICI PPTYS INC	$35,732,000	+10.7%	1,528,979	-4.4%	2.68%	-26.2%
ADBE	Buy	ADOBE SYSTEMS INCORPORATED	$34,438,000	+143.4%	70,221	+116.1%	2.58%	+62.3%
AON	Buy	AON PLC	$33,758,000	+31.2%	163,636	+22.4%	2.53%	-12.6%
JD	Buy	JD.COM INCspon adr cl a	$31,037,000	+3360.1%	399,910	+2582.2%	2.33%	+2204.0%
WMT	New	WALMART INC	$30,491,000	–	217,933	–	2.29%	–
SE	Sell	SEA LTDsponsord ads	$29,275,000	+39.1%	190,047	-3.2%	2.19%	-7.3%
IAC	New	IAC INTERACTIVECORP NEW	$28,014,000	–	233,878	–	2.10%	–
HUYA	Sell	HUYA INC	$24,830,000	-61.6%	1,036,748	-70.1%	1.86%	-74.4%
AMZN	Buy	AMAZON COM INC	$22,973,000	+145.2%	7,296	+114.8%	1.72%	+63.4%
MSFT	Buy	MICROSOFT CORP	$22,858,000	+62.4%	108,675	+57.2%	1.71%	+8.2%
GOOGL	Buy	ALPHABET INCcap stk cl a	$22,462,000	+85.0%	15,326	+79.0%	1.68%	+23.4%
LDOS	Buy	LEIDOS HOLDINGS INC	$22,432,000	+39.5%	251,618	+46.6%	1.68%	-7.0%
PYPL	Buy	PAYPAL HLDGS INC	$21,127,000	+39.0%	107,229	+22.9%	1.58%	-7.3%
CNC	Buy	CENTENE CORP DEL	$21,019,000	+140.4%	360,353	+161.9%	1.58%	+60.3%
SPGI	New	S&P GLOBAL INC	$19,833,000	–	55,000	–	1.49%	–
DBX	Sell	DROPBOX INCcl a	$16,547,000	-35.2%	859,130	-26.8%	1.24%	-56.8%
GDDY	Buy	GODADDY INCcl a	$16,165,000	+137.6%	212,785	+129.3%	1.21%	+58.4%
LH	New	LABORATORY CORP AMER HLDGS	$15,278,000	–	81,152	–	1.14%	–
KFY	Sell	KORN FERRY	$14,326,000	-30.0%	493,997	-25.8%	1.07%	-53.3%
PD	New	PAGERDUTY INC	$12,316,000	–	454,304	–	0.92%	–
TME	New	TENCENT MUSIC ENTMT GROUPspon ads	$12,185,000	–	825,000	–	0.91%	–
NTES	Sell	NETEASE INCsponsored ads	$11,364,000	-8.0%	24,994	-13.1%	0.85%	-38.7%
SERV	New	SERVICEMASTER GLOBAL HLDGS I	$10,575,000	–	265,158	–	0.79%	–
IRDM	Sell	IRIDIUM COMMUNICATIONS INC	$9,084,000	-43.4%	355,135	-43.7%	0.68%	-62.3%
AAPL	Buy	APPLE INC	$8,338,000	+27.0%	72,000	+300.0%	0.62%	-15.3%
VRT	Buy	VERTIV HOLDINGS CO	$8,217,000	+73.1%	474,400	+35.5%	0.62%	+15.4%
BRO	Sell	BROWN & BROWN INC	$7,698,000	-39.1%	170,045	-45.2%	0.58%	-59.5%
CRM	Buy	SALESFORCE COM INC	$6,283,000	+235.5%	25,000	+150.0%	0.47%	+123.2%
NOMD	Buy	NOMAD FOODS LTD	$4,933,000	+112.2%	561,583	+418.1%	0.37%	+41.8%
J	Sell	JACOBS ENGR GROUP INC	$4,926,000	-81.1%	53,101	-82.7%	0.37%	-87.4%
CSGP	New	COSTAR GROUP INC	$4,158,000	–	4,900	–	0.31%	–
CBRE	New	CBRE GROUP INCcl a	$2,532,000	–	53,900	–	0.19%	–
PAGS	Sell	PAGSEGURO DIGITAL LTD	$2,233,000	-38.4%	59,203	-42.3%	0.17%	-59.1%
ICE	New	INTERCONTINENTAL EXCHANGE IN	$884,000	–	8,836	–	0.07%	–
XBI	Sell	SPDR SER TRs&p biotech	$861,000	-79.6%	7,724	-79.5%	0.06%	-86.3%
YNDX	Sell	YANDEX N V	$643,000	-96.7%	9,859	-97.5%	0.05%	-97.8%
INGN	Exit	INOGEN INC	$0	–	-9,500	–	-0.04%	–
TVIXF	Exit	CREDIT SUISSE AG NASSAU BRH	$0	–	-5,000	–	-0.07%	–
AKRO	Exit	AKERO THERAPEUTICS INC	$0	–	-26,457	–	-0.07%	–
SONO	Exit	SONOS INC	$0	–	-110,600	–	-0.18%	–
CC	Exit	CHEMOURS CO	$0	–	-118,479	–	-0.20%	–
CSOD	Exit	CORNERSTONE ONDEMAND INC	$0	–	-54,793	–	-0.24%	–
PRQR	Exit	PROQR THRAPEUTICS N V	$0	–	-453,182	–	-0.31%	–
UBER	Exit	UBER TECHNOLOGIES INC	$0	–	-100,000	–	-0.35%	–
LYFT	Exit	LYFT INC	$0	–	-100,000	–	-0.37%	–
SMAR	Exit	SMARTSHEET INC	$0	–	-250,000	–	-1.43%	–

Q2 2020

			Value		Shares		↓ Weighting
TWTR	New	TWITTER INC	$88,411,000	–	2,967,809	–	9.94%	–
HUYA	New	HUYA INC	$64,721,000	–	3,466,589	–	7.28%	–
CRL	New	CHARLES RIV LABS INTL INC	$44,039,000	–	252,591	–	4.95%	–
CCK	New	CROWN HLDGS INC	$42,335,000	–	650,000	–	4.76%	–
TDG	New	TRANSDIGM GROUP INC	$40,607,000	–	91,860	–	4.57%	–
VICI	New	VICI PPTYS INC	$32,283,000	–	1,598,979	–	3.63%	–
INFO	New	IHS MARKIT LTD	$31,138,000	–	412,422	–	3.50%	–
SSNC	New	SS&C TECHNOLOGIES HLDGS INC	$30,894,000	–	546,985	–	3.47%	–
SNPS	New	SYNOPSYS INC	$27,221,000	–	139,596	–	3.06%	–
J	New	JACOBS ENGR GROUP INC	$26,103,000	–	307,823	–	2.94%	–
AON	New	AON PLC	$25,738,000	–	133,636	–	2.90%	–
DBX	New	DROPBOX INCcl a	$25,540,000	–	1,173,171	–	2.87%	–
ATVI	New	ACTIVISION BLIZZARD INC	$23,703,000	–	312,286	–	2.67%	–
FB	New	FACEBOOK INCcl a	$21,353,000	–	94,037	–	2.40%	–
SE	New	SEA LTDsponsored ads	$21,046,000	–	196,247	–	2.37%	–
KFY	New	KORN FERRY	$20,459,000	–	665,778	–	2.30%	–
IQV	New	IQVIA HLDGS INC	$20,054,000	–	141,345	–	2.26%	–
YNDX	New	YANDEX N V	$19,626,000	–	392,355	–	2.21%	–
LDOS	New	LEIDOS HOLDINGS INC	$16,075,000	–	171,618	–	1.81%	–
IRDM	New	IRIDIUM COMMUNICATIONS INC	$16,040,000	–	630,499	–	1.80%	–
PYPL	New	PAYPAL HLDGS INC	$15,198,000	–	87,229	–	1.71%	–
ADBE	New	ADOBE INC	$14,148,000	–	32,500	–	1.59%	–
MSFT	New	MICROSOFT CORP	$14,073,000	–	69,150	–	1.58%	–
FIS	New	FIDELITY NATL INFORMATION SV	$13,409,000	–	100,000	–	1.51%	–
SMAR	New	SMARTSHEET INC	$12,730,000	–	250,000	–	1.43%	–
BRO	New	BROWN & BROWN INC	$12,649,000	–	310,333	–	1.42%	–
GLD	New	SPDR GOLD TR	$12,553,000	–	75,000	–	1.41%	–
CPRT	New	COPART INC	$12,491,000	–	150,000	–	1.40%	–
NTES	New	NETEASE INCsponsored ads	$12,351,000	–	28,764	–	1.39%	–
GOOGL	New	ALPHABET INCcap stk cl a	$12,140,000	–	8,561	–	1.36%	–
UPWK	New	UPWORK INC	$10,082,000	–	698,206	–	1.13%	–
ANGI	New	ANGI HOMESERVICES INC	$9,722,000	–	800,201	–	1.09%	–
AMZN	New	AMAZON COM INC	$9,369,000	–	3,396	–	1.05%	–
POOL	New	POOL CORPORATION	$9,185,000	–	33,786	–	1.03%	–
CNC	New	CENTENE CORP DEL	$8,745,000	–	137,613	–	0.98%	–
GDDY	New	GODADDY INCcl a	$6,804,000	–	92,785	–	0.76%	–
AAPL	New	APPLE INC	$6,566,000	–	18,000	–	0.74%	–
VRT	New	VERTIV HOLDINGS CO	$4,746,000	–	350,000	–	0.53%	–
EA	New	ELECTRONIC ARTS INC	$4,622,000	–	34,999	–	0.52%	–
UNH	New	UNITEDHEALTH GROUP INC	$4,424,000	–	15,000	–	0.50%	–
XBI	New	SPDR SER TRs&p biotech	$4,223,000	–	37,724	–	0.48%	–
V	New	VISA INC	$4,086,000	–	21,150	–	0.46%	–
MSGE	New	MADISON SQUARE GRDN ENTERTNMcl a	$3,675,000	–	49,000	–	0.41%	–
PAGS	New	PAGSEGURO DIGITAL LTD	$3,624,000	–	102,536	–	0.41%	–
LYFT	New	LYFT INC	$3,301,000	–	100,000	–	0.37%	–
UBER	New	UBER TECHNOLOGIES INC	$3,108,000	–	100,000	–	0.35%	–
MA	New	MASTERCARD INCORPORATEDcl a	$2,957,000	–	10,000	–	0.33%	–
CTXS	New	CITRIX SYS INC	$2,958,000	–	20,000	–	0.33%	–
PRQR	New	PROQR THRAPEUTICS N V	$2,755,000	–	453,182	–	0.31%	–
NOMD	New	NOMAD FOODS LTD	$2,325,000	–	108,401	–	0.26%	–
CSOD	New	CORNERSTONE ONDEMAND INC	$2,113,000	–	54,793	–	0.24%	–
CRM	New	SALESFORCE COM INC	$1,873,000	–	10,000	–	0.21%	–
CC	New	CHEMOURS CO	$1,819,000	–	118,479	–	0.20%	–
SONO	New	SONOS INC	$1,618,000	–	110,600	–	0.18%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$1,449,000	–	4,000	–	0.16%	–
JD	New	JD.COM INCspon adr cl a	$897,000	–	14,910	–	0.10%	–
AKRO	New	AKERO THERAPEUTICS INC	$659,000	–	26,457	–	0.07%	–
DESP	New	DESPEGAR COM CORP	$638,000	–	88,800	–	0.07%	–
TVIXF	New	CREDIT SUISSE AG NASSAU BRH	$633,000	–	5,000	–	0.07%	–
EB	New	EVENTBRITE INC	$397,000	–	46,298	–	0.04%	–
INGN	New	INOGEN INC	$337,000	–	9,500	–	0.04%	–
XLK	New	SELECT SECTOR SPDR TRtechnology	$209,000	–	2,000	–	0.02%	–
VSTM	New	VERASTEM INC	$153,000	–	89,188	–	0.02%	–

Q4 2019

			Value		Shares		↓ Weighting
UPWK	Exit	UPWORK INC	$0	–	-10,000	–	-0.08%	–
	Exit	INTELSAT S Anote 4.500% 6/1	$0	–	-94,000	–	-0.09%	–
MOMO	Exit	MOMO INCadr	$0	–	-10,316	–	-0.20%	–
QQQ	Exit	INVESCO QQQ TRput	$0	–	-2,000	–	-0.24%	–
PRTA	Exit	PROTHENA CORP PLC	$0	–	-61,640	–	-0.30%	–
RLGY	Exit	REALOGY HLDGS CORP	$0	–	-77,855	–	-0.33%	–
KLDO	Exit	KALEIDO BIOSCIENCES INC	$0	–	-72,480	–	-0.34%	–
DOCU	Exit	DOCUSIGN INC	$0	–	-9,170	–	-0.36%	–
SFIX	Exit	STITCH FIX INC	$0	–	-30,000	–	-0.36%	–
DOOR	Exit	MASONITE INTL CORP NEW	$0	–	-13,427	–	-0.49%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-9,155	–	-0.56%	–
ACHN	Exit	ACHILLION PHARMACEUTICALS IN	$0	–	-283,200	–	-0.64%	–
ADMS	Exit	ADAMAS PHARMACEUTICALS INC	$0	–	-229,347	–	-0.74%	–
MX	Exit	MAGNACHIP SEMICONDUCTOR CORP	$0	–	-139,018	–	-0.88%	–
EXPE	Exit	EXPEDIA GROUP INC	$0	–	-10,538	–	-0.89%	–
CTRP	Exit	CTRIP COM INTL LTDsponsored ads	$0	–	-50,000	–	-0.92%	–
DESP	Exit	DESPEGAR COM CORP	$0	–	-203,800	–	-1.45%	–
PRQR	Exit	PROQR THRAPEUTICS N V	$0	–	-465,580	–	-1.68%	–
BOX	Exit	BOX INCcl a	$0	–	-180,000	–	-1.87%	–
EB	Exit	EVENTBRITE INC	$0	–	-198,634	–	-2.21%	–
LYFT	Exit	LYFT INC	$0	–	-93,144	–	-2.38%	–
NTNX	Exit	NUTANIX INCcl a	$0	–	-158,400	–	-2.61%	–
VAC	Exit	MARRIOTT VACTINS WORLDWID CO	$0	–	-41,166	–	-2.67%	–
SE	Exit	SEA LTDput	$0	–	-150,000	–	-2.91%	–
PSTG	Exit	PURE STORAGE INCcl a	$0	–	-300,000	–	-3.19%	–
VG	Exit	VONAGE HLDGS CORP	$0	–	-578,827	–	-4.10%	–
BCO	Exit	BRINKS CO	$0	–	-81,544	–	-4.24%	–
BKNG	Exit	BOOKING HLDGS INC	$0	–	-3,796	–	-4.67%	–
HUYA	Exit	HUYA INC	$0	–	-342,775	–	-5.08%	–
IRDM	Exit	IRIDIUM COMMUNICATIONS INC	$0	–	-386,072	–	-5.15%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-182,053	–	-6.04%	–
YNDX	Exit	YANDEX N V	$0	–	-412,363	–	-9.05%	–
INTEQ	Exit	INTELSAT S A	$0	–	-956,905	–	-13.68%	–
SE	Exit	SEA LTDsponsored ads	$0	–	-1,010,007	–	-19.60%	–

Q3 2019

			Value		Shares		↓ Weighting
SE	Sell	SEA LTDsponsored ads	$31,260,000	-26.5%	1,010,007	-21.1%	19.60%	+28.8%
INTEQ	Sell	INTELSAT S A	$21,817,000	-50.7%	956,905	-57.9%	13.68%	-13.6%
YNDX	Sell	YANDEX N V	$14,437,000	-35.9%	412,363	-30.4%	9.05%	+12.4%
ATVI	Sell	ACTIVISION BLIZZARD INC	$9,634,000	-49.3%	182,053	-54.8%	6.04%	-11.2%
IRDM	New	IRIDIUM COMMUNICATIONS INC	$8,216,000	–	386,072	–	5.15%	–
HUYA	Sell	HUYA INC	$8,103,000	-66.0%	342,775	-64.4%	5.08%	-40.4%
BKNG	Sell	BOOKING HLDGS INC	$7,450,000	-39.8%	3,796	-42.4%	4.67%	+5.5%
BCO	Sell	BRINKS CO	$6,764,000	-57.3%	81,544	-58.2%	4.24%	-25.2%
VG	Sell	VONAGE HLDGS CORP	$6,541,000	-71.6%	578,827	-71.5%	4.10%	-50.2%
SE	New	SEA LTDput	$4,644,000	–	150,000	–	2.91%	–
VAC	Sell	MARRIOTT VACTINS WORLDWID CO	$4,265,000	-55.1%	41,166	-58.3%	2.67%	-21.4%
NTNX	Sell	NUTANIX INCcl a	$4,158,000	-57.4%	158,400	-57.9%	2.61%	-25.4%
LYFT	Sell	LYFT INC	$3,804,000	-41.0%	93,144	-5.1%	2.38%	+3.3%
EB	New	EVENTBRITE INC	$3,518,000	–	198,634	–	2.21%	–
EA	Sell	ELECTRONIC ARTS INC	$896,000	-95.3%	9,155	-95.1%	0.56%	-91.8%
SFIX	New	STITCH FIX INC	$578,000	–	30,000	–	0.36%	–
DOCU	New	DOCUSIGN INC	$568,000	–	9,170	–	0.36%	–
RLGY	Sell	REALOGY HLDGS CORP	$520,000	-69.9%	77,855	-67.4%	0.33%	-47.3%
QQQ	New	INVESCO QQQ TRput	$378,000	–	2,000	–	0.24%	–
	New	INTELSAT S Anote 4.500% 6/1	$138,000	–	94,000	–	0.09%	–
UPWK	New	UPWORK INC	$133,000	–	10,000	–	0.08%	–
FLXN	Exit	FLEXION THERAPEUTICS INC	$0	–	-36,753	–	-0.16%	–
KN	Exit	KNOWLES CORP	$0	–	-27,666	–	-0.18%	–
HIIQ	Exit	HEALTH INS INNOVATIONS INC	$0	–	-26,832	–	-0.25%	–
JLL	Exit	JONES LANG LASALLE INC	$0	–	-26,242	–	-1.32%	–

Q2 2019

			Value		Shares		↓ Weighting
INTEQ	New	INTELSAT S A	$44,247,000	–	2,274,912	–	15.84%	–
SE	New	SEA LTDsponsored ads	$42,522,000	–	1,280,007	–	15.22%	–
HUYA	New	HUYA INC	$23,823,000	–	964,084	–	8.53%	–
VG	New	VONAGE HLDGS CORP	$23,004,000	–	2,030,400	–	8.23%	–
YNDX	New	YANDEX N V	$22,507,000	–	592,300	–	8.06%	–
EA	New	ELECTRONIC ARTS INC	$19,065,000	–	188,277	–	6.82%	–
ATVI	New	ACTIVISION BLIZZARD INC	$19,006,000	–	402,660	–	6.80%	–
BCO	New	BRINKS CO	$15,836,000	–	195,074	–	5.67%	–
BKNG	New	BOOKING HLDGS INC	$12,366,000	–	6,596	–	4.43%	–
NTNX	New	NUTANIX INCcl a	$9,761,000	–	376,300	–	3.49%	–
VAC	New	MARRIOTT VACTINS WORLDWID CO	$9,509,000	–	98,642	–	3.40%	–
LYFT	New	LYFT INC	$6,449,000	–	98,144	–	2.31%	–
PSTG	New	PURE STORAGE INCcl a	$4,581,000	–	300,000	–	1.64%	–
PRQR	New	PROQR THRAPEUTICS N V	$4,237,000	–	465,580	–	1.52%	–
JLL	New	JONES LANG LASALLE INC	$3,692,000	–	26,242	–	1.32%	–
BOX	New	BOX INCcl a	$3,170,000	–	180,000	–	1.13%	–
DESP	New	DESPEGAR COM CORP	$2,831,000	–	203,800	–	1.01%	–
CTRP	New	CTRIP COM INTL LTDsponsored ads	$1,846,000	–	50,000	–	0.66%	–
RLGY	New	REALOGY HLDGS CORP	$1,729,000	–	238,767	–	0.62%	–
MX	New	MAGNACHIP SEMICONDUCTOR CORP	$1,439,000	–	139,018	–	0.52%	–
ADMS	New	ADAMAS PHARMACEUTICALS INC	$1,422,000	–	229,347	–	0.51%	–
EXPE	New	EXPEDIA GROUP INC	$1,402,000	–	10,538	–	0.50%	–
KLDO	New	KALEIDO BIOSCIENCES INC	$841,000	–	72,480	–	0.30%	–
ACHN	New	ACHILLION PHARMACEUTICALS IN	$759,000	–	283,200	–	0.27%	–
DOOR	New	MASONITE INTL CORP NEW	$707,000	–	13,427	–	0.25%	–
HIIQ	New	HEALTH INS INNOVATIONS INC	$695,000	–	26,832	–	0.25%	–
PRTA	New	PROTHENA CORP PLC	$652,000	–	61,640	–	0.23%	–
KN	New	KNOWLES CORP	$507,000	–	27,666	–	0.18%	–
FLXN	New	FLEXION THERAPEUTICS INC	$452,000	–	36,753	–	0.16%	–
MOMO	New	MOMO INCadr	$369,000	–	10,316	–	0.13%	–

Q4 2018

			Value		Shares		↓ Weighting
FLXN	Exit	FLEXION THERAPEUTICS INC	$0	–	-37,145	–	-0.68%	–
REGI	Exit	RENEWABLE ENERGY GROUP INC	$0	–	-35,000	–	-0.99%	–
SE	Exit	SEA LTDadr	$0	–	-100,000	–	-1.36%	–
MX	Exit	MAGNACHIP SEMICONDUCTOR CORP	$0	–	-140,000	–	-1.36%	–
ADMS	Exit	ADAMAS PHARMACEUTICALS INC	$0	–	-72,840	–	-1.43%	–
MOMO	Exit	MOMO INCadr	$0	–	-35,319	–	-1.52%	–
EXPE	Exit	EXPEDIA GROUP INC	$0	–	-12,404	–	-1.59%	–
JLL	Exit	JONES LANG LASALLE INC	$0	–	-24,304	–	-3.44%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-40,120	–	-4.63%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-58,650	–	-6.93%	–
HUYA	Exit	HUYA INC	$0	–	-611,651	–	-14.14%	–
YY	Exit	YY INC	$0	–	-218,066	–	-16.02%	–
INTEQ	Exit	INTELSAT S A	$0	–	-687,295	–	-20.21%	–
LXFT	Exit	LUXOFT HLDG INC	$0	–	-554,235	–	-25.72%	–

Q3 2018

			Value		Shares		↓ Weighting
LXFT	Sell	LUXOFT HLDG INC	$26,243,000	-27.6%	554,235	-43.7%	25.72%	+70.8%
INTEQ	Sell	INTELSAT S A	$20,619,000	-85.4%	687,295	-91.9%	20.21%	-65.6%
HUYA	Buy	HUYA INC	$14,423,000	+28.5%	611,651	+79.2%	14.14%	+203.2%
EA	New	ELECTRONIC ARTS INC	$7,067,000	–	58,650	–	6.93%	–
EXPE	Sell	EXPEDIA GROUP INC	$1,618,000	-87.5%	12,404	-88.5%	1.59%	-70.4%
MOMO	Buy	MOMO INCadr	$1,547,000	+13.6%	35,319	+12.8%	1.52%	+167.8%
SE	New	SEA LTDadr	$1,383,000	–	100,000	–	1.36%	–
REGI	Sell	RENEWABLE ENERGY GROUP INC	$1,008,000	-24.7%	35,000	-53.3%	0.99%	+77.7%
HABT	Exit	HABIT RESTAURANTS INC	$0	–	-85,000	–	-0.35%	–
PTCT	Exit	PTC THERAPEUTICS INC	$0	–	-40,122	–	-0.56%	–

Q2 2018

			Value		Shares		↓ Weighting
INTEQ	New	INTELSAT S A	$141,263,000	–	8,479,162	–	58.69%	–
LXFT	New	LUXOFT HLDG INC	$36,258,000	–	983,935	–	15.06%	–
YY	New	YY INC	$21,909,000	–	218,066	–	9.10%	–
EXPE	New	EXPEDIA GROUP INC	$12,909,000	–	107,404	–	5.36%	–
HUYA	New	HUYA INC	$11,223,000	–	341,228	–	4.66%	–
JLL	New	JONES LANG LASALLE INC	$4,034,000	–	24,304	–	1.68%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$3,919,000	–	40,120	–	1.63%	–
ADMS	New	ADAMAS PHARMACEUTICALS INC	$1,881,000	–	72,840	–	0.78%	–
MX	New	MAGNACHIP SEMICONDUCTOR CORP	$1,435,000	–	140,000	–	0.60%	–
MOMO	New	MOMO INCadr	$1,362,000	–	31,319	–	0.57%	–
PTCT	New	PTC THERAPEUTICS INC	$1,353,000	–	40,122	–	0.56%	–
REGI	New	RENEWABLE ENERGY GROUP INC	$1,339,000	–	75,000	–	0.56%	–
FLXN	New	FLEXION THERAPEUTICS INC	$960,000	–	37,145	–	0.40%	–
HABT	New	HABIT RESTAURANTS INC	$850,000	–	85,000	–	0.35%	–

Q4 2017

			Value		Shares		↓ Weighting
PSTG	Exit	PURE STORAGE INCcl a	$0	–	-11,064	–	-0.18%	–
CARA	Exit	CARA THERAPEUTICS INC	$0	–	-14,121	–	-0.20%	–
FRGI	Exit	FIESTA RESTAURANT GROUP INC	$0	–	-10,668	–	-0.21%	–
ZEN	Exit	ZENDESK INC	$0	–	-38,900	–	-1.18%	–
CARS	Exit	CARS COM INC	$0	–	-89,970	–	-2.50%	–
TRVG	Exit	TRIVAGO N V	$0	–	-257,088	–	-2.91%	–
TSS	Exit	TOTAL SYS SVCS INC	$0	–	-48,170	–	-3.29%	–
NTNX	Exit	NUTANIX INCcl a	$0	–	-177,550	–	-4.15%	–
JLL	Exit	JONES LANG LASALLE INC	$0	–	-40,433	–	-5.21%	–
EBAY	Exit	EBAY INC	$0	–	-227,555	–	-9.14%	–
GIMO	Exit	GIGAMON INC	$0	–	-362,357	–	-15.94%	–
ADMS	Exit	ADAMAS PHARMACEUTICALS INC	$0	–	-763,927	–	-16.88%	–
LXFT	Exit	LUXOFT HLDG INC	$0	–	-765,514	–	-38.20%	–

Q3 2017

			Value		Shares		↓ Weighting
LXFT	Buy	LUXOFT HLDG INC	$36,592,000	+96.2%	765,514	+149.8%	38.20%	+122.6%
ADMS	New	ADAMAS PHARMACEUTICALS INC	$16,172,000	–	763,927	–	16.88%	–
GIMO	Sell	GIGAMON INC	$15,273,000	-16.2%	362,357	-21.7%	15.94%	-4.9%
NTNX	Sell	NUTANIX INCcl a	$3,975,000	-27.6%	177,550	-34.9%	4.15%	-17.9%
TSS	Sell	TOTAL SYS SVCS INC	$3,155,000	-42.3%	48,170	-48.7%	3.29%	-34.6%
TRVG	New	TRIVAGO N V	$2,789,000	–	257,088	–	2.91%	–
CARS	Sell	CARS COM INC	$2,394,000	-66.1%	89,970	-66.0%	2.50%	-61.5%
FRGI	Sell	FIESTA RESTAURANT GROUP INC	$203,000	-70.4%	10,668	-67.8%	0.21%	-66.3%
CARA	Sell	CARA THERAPEUTICS INC	$193,000	-74.9%	14,121	-71.8%	0.20%	-71.7%
PSTG	Sell	PURE STORAGE INCcl a	$177,000	-96.2%	11,064	-97.0%	0.18%	-95.7%
AZUL	Exit	AZUL S Asponsr adr pfd	$0	–	-37,968	–	-0.74%	–
ETSY	Exit	ETSY INC	$0	–	-70,000	–	-0.97%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-13,393	–	-1.34%	–
PANW	Exit	PALO ALTO NETWORKS INC	$0	–	-23,000	–	-2.83%	–
YELP	Exit	YELP INCcl a	$0	–	-200,000	–	-5.52%	–
STMP	Exit	STAMPS COM INC	$0	–	-39,781	–	-5.67%	–
FL	Exit	FOOT LOCKER INC	$0	–	-130,800	–	-5.93%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-129,396	–	-7.91%	–

Q2 2017

			Value		Shares		↓ Weighting
LXFT	New	LUXOFT HLDG INC	$18,649,000	–	306,481	–	17.16%	–
GIMO	New	GIGAMON INC	$18,219,000	–	462,989	–	16.76%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$8,592,000	–	129,396	–	7.91%	–
EBAY	New	EBAY INC	$7,946,000	–	227,555	–	7.31%	–
CARS	New	CARS COM INC	$7,057,000	–	265,000	–	6.49%	–
FL	New	FOOT LOCKER INC	$6,446,000	–	130,800	–	5.93%	–
STMP	New	STAMPS COM INC	$6,161,000	–	39,781	–	5.67%	–
YELP	New	YELP INCcl a	$6,004,000	–	200,000	–	5.52%	–
NTNX	New	NUTANIX INCcl a	$5,492,000	–	272,550	–	5.05%	–
TSS	New	TOTAL SYS SVCS INC	$5,471,000	–	93,919	–	5.03%	–
JLL	New	JONES LANG LASALLE INC	$5,054,000	–	40,433	–	4.65%	–
PSTG	New	PURE STORAGE INCcl a	$4,656,000	–	363,464	–	4.28%	–
PANW	New	PALO ALTO NETWORKS INC	$3,078,000	–	23,000	–	2.83%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$1,461,000	–	13,393	–	1.34%	–
ZEN	New	ZENDESK INC	$1,081,000	–	38,900	–	1.00%	–
ETSY	New	ETSY INC	$1,050,000	–	70,000	–	0.97%	–
AZUL	New	AZUL S Asponsr adr pfd	$800,000	–	37,968	–	0.74%	–
CARA	New	CARA THERAPEUTICS INC	$770,000	–	50,000	–	0.71%	–
FRGI	New	FIESTA RESTAURANT GROUP INC	$685,000	–	33,168	–	0.63%	–

Q4 2016

			Value		Shares		↓ Weighting
ECHO	Exit	ECHO GLOBAL LOGISTICS INC	$0	–	-29,677	–	-0.44%	–
ZFC	Exit	ZAIS FINL CORP	$0	–	-61,129	–	-0.57%	–
CIEN	Exit	CIENA CORP	$0	–	-48,405	–	-0.68%	–
KR	Exit	KROGER CO	$0	–	-56,172	–	-1.08%	–
CXW	Exit	CORRECTIONS CORP AMER NEW	$0	–	-243,965	–	-2.20%	–
SSNC	Exit	SS&C TECHNOLOGIES HLDGS INC	$0	–	-120,273	–	-2.51%	–
GPC	Exit	GENUINE PARTS CO	$0	–	-39,673	–	-2.59%	–
SIG	Exit	SIGNET JEWELERS LIMITED	$0	–	-71,264	–	-3.45%	–
FRGI	Exit	FIESTA RESTAURANT GROUP INC	$0	–	-234,249	–	-3.65%	–
VMW	Exit	VMWARE INC	$0	–	-78,156	–	-3.72%	–
HAIN	Exit	HAIN CELESTIAL GROUP INC	$0	–	-163,161	–	-3.77%	–
SERV	Exit	SERVICEMASTER GLOBAL HLDGS I	$0	–	-190,032	–	-4.16%	–
FNF	Exit	FIDELITY NATIONAL FINANCIAL	$0	–	-182,825	–	-4.38%	–
TSS	Exit	TOTAL SYS SVCS INC	$0	–	-153,375	–	-4.70%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-217,228	–	-6.73%	–
BRO	Exit	BROWN & BROWN INC	$0	–	-281,962	–	-6.90%	–
MENT	Exit	MENTOR GRAPHICS CORP	$0	–	-485,861	–	-8.34%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-174,972	–	-8.82%	–
JLL	Exit	JONES LANG LASALLE INC	$0	–	-205,307	–	-15.17%	–
LXFT	Exit	LUXOFT HLDG INC	$0	–	-470,471	–	-16.14%	–

Q3 2016

			Value		Shares		↓ Weighting
LXFT	Sell	LUXOFT HLDG INC	$24,864,000	-27.0%	470,471	-28.2%	16.14%	+75.2%
JLL	Sell	JONES LANG LASALLE INC	$23,362,000	-51.6%	205,307	-58.6%	15.17%	+16.1%
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$13,580,000	–	174,972	–	8.82%	–
MENT	Sell	MENTOR GRAPHICS CORP	$12,846,000	-44.7%	485,861	-55.5%	8.34%	+32.8%
BRO	Sell	BROWN & BROWN INC	$10,633,000	-60.7%	281,962	-60.9%	6.90%	-5.6%
CTSH	Sell	COGNIZANT TECHNOLOGY SOLUTIOcl a	$10,364,000	-46.6%	217,228	-36.0%	6.73%	+28.2%
TSS	New	TOTAL SYS SVCS INC	$7,232,000	–	153,375	–	4.70%	–
FNF	New	FIDELITY NATIONAL FINANCIAL	$6,748,000	–	182,825	–	4.38%	–
SERV	Sell	SERVICEMASTER GLOBAL HLDGS I	$6,400,000	-59.7%	190,032	-52.4%	4.16%	-3.3%
HAIN	New	HAIN CELESTIAL GROUP INC	$5,805,000	–	163,161	–	3.77%	–
VMW	New	VMWARE INC	$5,733,000	–	78,156	–	3.72%	–
FRGI	Sell	FIESTA RESTAURANT GROUP INC	$5,622,000	-22.6%	234,249	-29.7%	3.65%	+85.8%
SIG	New	SIGNET JEWELERS LIMITED	$5,311,000	–	71,264	–	3.45%	–
GPC	Sell	GENUINE PARTS CO	$3,985,000	-81.3%	39,673	-81.2%	2.59%	-55.2%
SSNC	Sell	SS&C TECHNOLOGIES HLDGS INC	$3,867,000	-58.7%	120,273	-63.9%	2.51%	-0.8%
CXW	New	CORRECTIONS CORP AMER NEW	$3,384,000	–	243,965	–	2.20%	–
KR	New	KROGER CO	$1,667,000	–	56,172	–	1.08%	–
CIEN	New	CIENA CORP	$1,055,000	–	48,405	–	0.68%	–
ZFC	Sell	ZAIS FINL CORP	$882,000	-52.6%	61,129	-55.0%	0.57%	+13.9%
ECHO	Sell	ECHO GLOBAL LOGISTICS INC	$684,000	-90.8%	29,677	-91.1%	0.44%	-78.0%
BGCP	Exit	BGC PARTNERS INCcl a	$0	–	-29,175	–	-0.07%	–
PBPB	Exit	POTBELLY CORP	$0	–	-96,081	–	-0.33%	–
FOGO	Exit	FOGO DE CHAO INC	$0	–	-93,838	–	-0.33%	–
KFY	Exit	KORN FERRY INTL	$0	–	-87,064	–	-0.49%	–
ATHM	Exit	AUTOHOME INCsp adr rp cl a	$0	–	-128,538	–	-0.70%	–
TECD	Exit	TECH DATA CORP	$0	–	-39,044	–	-0.76%	–
SGNT	Exit	SAGENT PHARMACEUTICALS INC	$0	–	-190,372	–	-0.77%	–
EPAM	Exit	EPAM SYS INC	$0	–	-54,432	–	-0.95%	–
OZM	Exit	OCH ZIFF CAP MGMT GROUPcl a	$0	–	-961,845	–	-0.99%	–
WBC	Exit	WABCO HLDGS INC	$0	–	-40,294	–	-1.00%	–
SLV	Exit	ISHARES SILVER TRUSTishares	$0	–	-211,244	–	-1.02%	–
MCK	Exit	MCKESSON CORP	$0	–	-20,694	–	-1.04%	–
COF	Exit	CAPITAL ONE FINL CORP	$0	–	-82,497	–	-1.42%	–
PCLN	Exit	PRICELINE GRP INC	$0	–	-6,990	–	-2.36%	–
JCI	Exit	JOHNSON CTLS INC	$0	–	-212,650	–	-2.54%	–
STC	Exit	STEWART INFORMATION SVCS COR	$0	–	-228,270	–	-2.56%	–
EBAY	Exit	EBAY INC	$0	–	-430,834	–	-2.73%	–
PRXL	Exit	PAREXEL INTL CORP	$0	–	-181,756	–	-3.09%	–
SNPS	Exit	SYNOPSYS INC	$0	–	-260,215	–	-3.80%	–
ANSS	Exit	ANSYS INC	$0	–	-173,774	–	-4.26%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-466,374	–	-4.60%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-206,478	–	-5.99%	–

Q2 2016

			Value		Shares		↓ Weighting
JLL	New	JONES LANG LASALLE INC	$48,315,000	–	495,801	–	13.06%	–
LXFT	New	LUXOFT HLDG INC	$34,080,000	–	655,147	–	9.22%	–
BRO	New	BROWN & BROWN INC	$27,038,000	–	721,609	–	7.31%	–
MENT	New	MENTOR GRAPHICS CORP	$23,234,000	–	1,092,870	–	6.28%	–
SPGI	New	S&P GLOBAL INC	$22,146,000	–	206,478	–	5.99%	–
GPC	New	GENUINE PARTS CO	$21,356,000	–	210,924	–	5.77%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$19,415,000	–	339,186	–	5.25%	–
PYPL	New	PAYPAL HLDGS INC	$17,027,000	–	466,374	–	4.60%	–
SERV	New	SERVICEMASTER GLOBAL HLDGS I	$15,891,000	–	399,295	–	4.30%	–
ANSS	New	ANSYS INC	$15,769,000	–	173,774	–	4.26%	–
SNPS	New	SYNOPSYS INC	$14,072,000	–	260,215	–	3.80%	–
PRXL	New	PAREXEL INTL CORP	$11,428,000	–	181,756	–	3.09%	–
EBAY	New	EBAY INC	$10,085,000	–	430,834	–	2.73%	–
STC	New	STEWART INFORMATION SVCS COR	$9,452,000	–	228,270	–	2.56%	–
JCI	New	JOHNSON CTLS INC	$9,411,000	–	212,650	–	2.54%	–
SSNC	New	SS&C TECHNOLOGIES HLDGS INC	$9,364,000	–	333,506	–	2.53%	–
PCLN	New	PRICELINE GRP INC	$8,726,000	–	6,990	–	2.36%	–
ECHO	New	ECHO GLOBAL LOGISTICS INC	$7,465,000	–	332,979	–	2.02%	–
FRGI	New	FIESTA RESTAURANT GROUP INC	$7,266,000	–	333,156	–	1.96%	–
COF	New	CAPITAL ONE FINL CORP	$5,239,000	–	82,497	–	1.42%	–
MCK	New	MCKESSON CORP	$3,862,000	–	20,694	–	1.04%	–
SLV	New	ISHARES SILVER TRUSTishares	$3,773,000	–	211,244	–	1.02%	–
WBC	New	WABCO HLDGS INC	$3,689,000	–	40,294	–	1.00%	–
OZM	New	OCH ZIFF CAP MGMT GROUPcl a	$3,655,000	–	961,845	–	0.99%	–
EPAM	New	EPAM SYS INC	$3,500,000	–	54,432	–	0.95%	–
SGNT	New	SAGENT PHARMACEUTICALS INC	$2,851,000	–	190,372	–	0.77%	–
TECD	New	TECH DATA CORP	$2,805,000	–	39,044	–	0.76%	–
ATHM	New	AUTOHOME INCsp adr rp cl a	$2,584,000	–	128,538	–	0.70%	–
ZFC	New	ZAIS FINL CORP	$1,860,000	–	135,726	–	0.50%	–
KFY	New	KORN FERRY INTL	$1,802,000	–	87,064	–	0.49%	–
FOGO	New	FOGO DE CHAO INC	$1,225,000	–	93,838	–	0.33%	–
PBPB	New	POTBELLY CORP	$1,204,000	–	96,081	–	0.33%	–
BGCP	New	BGC PARTNERS INCcl a	$254,000	–	29,175	–	0.07%	–

Q4 2015

			Value		Shares		↓ Weighting
GULTU	Exit	GULF COAST ULTRA DEEP RTY TRroyalty tr unt	$0	–	-19,058	–	-0.00%	–
DXMMQ	Exit	DEX MEDIA INC NEW	$0	–	-123,673	–	-0.01%	–
FSBK	Exit	FIRST SOUTH BANCORP INC VA	$0	–	-24,415	–	-0.06%	–
PRXIQ	Exit	PREMIER EXHIBITIONS INC	$0	–	-116,321	–	-0.06%	–
SALE	Exit	RETAILMENOT INC	$0	–	-39,684	–	-0.10%	–
SPRO	Exit	SMARTPROS LTD	$0	–	-145,708	–	-0.11%	–
CCF	Exit	CHASE CORP	$0	–	-10,638	–	-0.12%	–
MHGC	Exit	MORGANS HOTEL GROUP CO	$0	–	-132,851	–	-0.13%	–
WBS	Exit	WEBSTER FINL CORP CONN	$0	–	-14,087	–	-0.15%	–
ECHO	Exit	ECHO GLOBAL LOGISTICS INC	$0	–	-25,948	–	-0.15%	–
SWI	Exit	SOLARWINDS INC	$0	–	-20,334	–	-0.23%	–
DANG	Exit	E-COMMERCE CHINA DANGDANG IN	$0	–	-218,070	–	-0.38%	–
TNET	Exit	TRINET GROUP INC	$0	–	-79,101	–	-0.39%	–
CNC	Exit	CENTENE CORP DEL	$0	–	-28,073	–	-0.44%	–
UNFI	Exit	UNITED NAT FOODS INC	$0	–	-33,993	–	-0.48%	–
ZFC	Exit	ZAIS FINL CORP	$0	–	-134,149	–	-0.52%	–
ZSPH	Exit	ZS PHARMA INC	$0	–	-45,021	–	-0.86%	–
TFM	Exit	FRESH MKT INC	$0	–	-132,912	–	-0.87%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-53,746	–	-1.01%	–
ICLR	Exit	ICON PLC	$0	–	-57,264	–	-1.18%	–
TWTR	Exit	TWITTER INC	$0	–	-163,935	–	-1.28%	–
BGCP	Exit	BGC PARTNERS INCcl a	$0	–	-588,000	–	-1.41%	–
COO	Exit	COOPER COS INC	$0	–	-35,000	–	-1.52%	–
CYH	Exit	COMMUNITY HEALTH SYS INC NEW	$0	–	-128,107	–	-1.59%	–
MLHR	Exit	MILLER HERMAN INC	$0	–	-261,818	–	-2.20%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-89,490	–	-3.02%	–
TARO	Exit	TARO PHARMACEUTICAL INDS LTD	$0	–	-77,040	–	-3.20%	–
KFY	Exit	KORN FERRY INTL	$0	–	-397,086	–	-3.82%	–
MCK	Exit	MCKESSON CORP	$0	–	-72,603	–	-3.91%	–
BID	Exit	SOTHEBYS	$0	–	-462,860	–	-4.31%	–
EPAM	Exit	EPAM SYS INC	$0	–	-202,500	–	-4.39%	–
LOCK	Exit	LIFELOCK INC	$0	–	-1,750,475	–	-4.46%	–
PCLN	Exit	PRICELINE GRP INC	$0	–	-12,481	–	-4.49%	–
YELP	Exit	YELP INCcl a	$0	–	-739,664	–	-4.66%	–
PRXL	Exit	PAREXEL INTL CORP	$0	–	-266,112	–	-4.80%	–
UHAL	Exit	AMERCO	$0	–	-43,666	–	-5.00%	–
LXFT	Exit	LUXOFT HLDG INC	$0	–	-308,988	–	-5.69%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-333,039	–	-6.07%	–
MRKT	Exit	MARKIT LTD	$0	–	-749,856	–	-6.33%	–
MHFI	Exit	MCGRAW HILL FINL INC	$0	–	-347,095	–	-8.74%	–
JLL	Exit	JONES LANG LASALLE INC	$0	–	-283,665	–	-11.87%	–

Q3 2015

			Value		Shares		↓ Weighting
JLL	Buy	JONES LANG LASALLE INC	$40,783,000	+6.6%	283,665	+26.8%	11.87%	-9.5%
MHFI	Buy	MCGRAW HILL FINL INC	$30,024,000	+37.7%	347,095	+59.9%	8.74%	+16.9%
MRKT	Sell	MARKIT LTD	$21,746,000	+2.2%	749,856	-9.9%	6.33%	-13.2%
CTSH	Sell	COGNIZANT TECHNOLOGY SOLUTIOcl a	$20,852,000	-16.5%	333,039	-18.5%	6.07%	-29.1%
LXFT	Sell	LUXOFT HLDG INC	$19,556,000	-14.4%	308,988	-23.6%	5.69%	-27.3%
UHAL	Sell	AMERCO	$17,181,000	-26.4%	43,666	-38.8%	5.00%	-37.5%
PRXL	Buy	PAREXEL INTL CORP	$16,478,000	+158.7%	266,112	+168.7%	4.80%	+119.7%
YELP	New	YELP INCcl a	$16,021,000	–	739,664	–	4.66%	–
PCLN	Sell	PRICELINE GRP INC	$15,437,000	+7.1%	12,481	-0.3%	4.49%	-9.0%
LOCK	New	LIFELOCK INC	$15,334,000	–	1,750,475	–	4.46%	–
EPAM	New	EPAM SYS INC	$15,090,000	–	202,500	–	4.39%	–
BID	Sell	SOTHEBYS	$14,802,000	-30.5%	462,860	-1.7%	4.31%	-41.0%
MCK	New	MCKESSON CORP	$13,434,000	–	72,603	–	3.91%	–
KFY	Sell	KORN FERRY INTL	$13,132,000	-24.0%	397,086	-20.1%	3.82%	-35.5%
TARO	New	TARO PHARMACEUTICAL INDS LTD	$11,008,000	–	77,040	–	3.20%	–
UNH	Sell	UNITEDHEALTH GROUP INC	$10,382,000	-52.4%	89,490	-49.9%	3.02%	-59.5%
MLHR	Sell	MILLER HERMAN INC	$7,551,000	-28.8%	261,818	-28.6%	2.20%	-39.6%
CYH	Sell	COMMUNITY HEALTH SYS INC NEW	$5,479,000	-38.6%	128,107	-9.6%	1.59%	-47.8%
COO	New	COOPER COS INC	$5,210,000	–	35,000	–	1.52%	–
BGCP	Buy	BGC PARTNERS INCcl a	$4,833,000	-1.0%	588,000	+5.4%	1.41%	-16.0%
TWTR	Buy	TWITTER INC	$4,416,000	-11.1%	163,935	+19.5%	1.28%	-24.5%
ICLR	New	ICON PLC	$4,064,000	–	57,264	–	1.18%	–
WMT	New	WAL-MART STORES INC	$3,485,000	–	53,746	–	1.01%	–
TFM	New	FRESH MKT INC	$3,002,000	–	132,912	–	0.87%	–
ZSPH	New	ZS PHARMA INC	$2,956,000	–	45,021	–	0.86%	–
UNFI	New	UNITED NAT FOODS INC	$1,649,000	–	33,993	–	0.48%	–
CNC	New	CENTENE CORP DEL	$1,522,000	–	28,073	–	0.44%	–
TNET	Sell	TRINET GROUP INC	$1,329,000	-91.3%	79,101	-86.9%	0.39%	-92.6%
DANG	New	E-COMMERCE CHINA DANGDANG IN	$1,302,000	–	218,070	–	0.38%	–
SWI	New	SOLARWINDS INC	$798,000	–	20,334	–	0.23%	–
ECHO	New	ECHO GLOBAL LOGISTICS INC	$509,000	–	25,948	–	0.15%	–
MHGC	Buy	MORGANS HOTEL GROUP CO	$441,000	+56.9%	132,851	+218.7%	0.13%	+33.3%
CCF	Buy	CHASE CORP	$419,000	+47.0%	10,638	+48.5%	0.12%	+24.5%
SPRO	Sell	SMARTPROS LTD	$388,000	+29.8%	145,708	-14.8%	0.11%	+10.8%
SALE	New	RETAILMENOT INC	$327,000	–	39,684	–	0.10%	–
DEO	Exit	DIAGEO P L Cspon adr new	$0	–	-21,494	–	-0.86%	–
SSNC	Exit	SS&C TECHNOLOGIES HLDGS INC	$0	–	-52,229	–	-1.12%	–
ROVI	Exit	ROVI CORPput	$0	–	-205,500	–	-1.12%	–

Q2 2015

			Value		Shares		↓ Weighting
JLL	New	JONES LANG LASALLE INC	$38,265,000	–	223,773	–	13.11%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$24,962,000	–	408,616	–	8.55%	–
UHAL	New	AMERCO	$23,331,000	–	71,369	–	7.99%	–
LXFT	New	LUXOFT HLDG INC	$22,858,000	–	404,215	–	7.83%	–
MHFI	New	MCGRAW HILL FINL INC	$21,805,000	–	217,072	–	7.47%	–
UNH	New	UNITEDHEALTH GROUP INC	$21,793,000	–	178,631	–	7.47%	–
BID	New	SOTHEBYS	$21,303,000	–	470,883	–	7.30%	–
MRKT	New	MARKIT LTD	$21,288,000	–	832,543	–	7.29%	–
KFY	New	KORN FERRY INTL	$17,280,000	–	496,966	–	5.92%	–
TNET	New	TRINET GROUP INC	$15,349,000	–	605,468	–	5.26%	–
PCLN	New	PRICELINE GRP INC	$14,412,000	–	12,517	–	4.94%	–
MLHR	New	MILLER HERMAN INC	$10,611,000	–	366,796	–	3.64%	–
CYH	New	COMMUNITY HEALTH SYS INC NEW	$8,919,000	–	141,635	–	3.06%	–
PRXL	New	PAREXEL INTL CORP	$6,370,000	–	99,054	–	2.18%	–
TWTR	New	TWITTER INC	$4,970,000	–	137,222	–	1.70%	–
BGCP	New	BGC PARTNERS INCcl a	$4,884,000	–	558,134	–	1.67%	–
ROVI	New	ROVI CORPput	$3,278,000	–	205,500	–	1.12%	–
SSNC	New	SS&C TECHNOLOGIES HLDGS INC	$3,264,000	–	52,229	–	1.12%	–
DEO	New	DIAGEO P L Cspon adr new	$2,494,000	–	21,494	–	0.86%	–
ZFC	New	ZAIS FINL CORP	$2,169,000	–	134,149	–	0.74%	–
WBS	New	WEBSTER FINL CORP CONN	$557,000	–	14,087	–	0.19%	–
PRXIQ	New	PREMIER EXHIBITIONS INC	$518,000	–	116,321	–	0.18%	–
SPRO	New	SMARTPROS LTD	$299,000	–	171,102	–	0.10%	–
CCF	New	CHASE CORP	$285,000	–	7,165	–	0.10%	–
MHGC	New	MORGANS HOTEL GROUP CO	$281,000	–	41,690	–	0.10%	–
FSBK	New	FIRST SOUTH BANCORP INC VA	$193,000	–	24,415	–	0.07%	–
DXMMQ	New	DEX MEDIA INC NEW	$90,000	–	123,673	–	0.03%	–
GULTU	New	GULF COAST ULTRA DEEP RTY TRroyalty tr unt	$13,000	–	19,058	–	0.00%	–

Q4 2014

			Value		Shares		↓ Weighting
GULTU	Exit	GULF COAST ULTRA DEEP RTY TRroyalty tr unt	$0	–	-19,058	–	-0.02%	–
FSBK	Exit	FIRST SOUTH BANCORP INC VA	$0	–	-24,415	–	-0.10%	–
SPRO	Exit	SMARTPROS LTD	$0	–	-171,102	–	-0.18%	–
STCK	Exit	STOCK BLDG SUPPLY HLDGS INC	$0	–	-33,072	–	-0.27%	–
HLF	Exit	HERBALIFE LTDcall	$0	–	-17,300	–	-0.39%	–
RVP	Exit	RETRACTABLE TECHNOLOGIES INC	$0	–	-288,360	–	-0.43%	–
PRXI	Exit	PREMIER EXIBITIONS INC	$0	–	-1,163,201	–	-0.44%	–
CPS	Exit	COOPER STD HLDGS INC	$0	–	-13,953	–	-0.45%	–
GKNT	Exit	GEEKNET INC	$0	–	-125,542	–	-0.60%	–
TUR	Exit	ISHARESmsci turkey etf	$0	–	-24,397	–	-0.62%	–
CONN	Exit	CONNS INC	$0	–	-45,045	–	-0.70%	–
CVEO	Exit	CIVEO CORP	$0	–	-124,176	–	-0.74%	–
GPRO	Exit	GOPRO INCput	$0	–	-15,500	–	-0.75%	–
IAC	Exit	IAC INTERACTIVECORP	$0	–	-27,700	–	-0.94%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-9,873	–	-0.97%	–
AES	Exit	AES CORP	$0	–	-164,553	–	-1.20%	–
HLF	Exit	HERBALIFE LTD	$0	–	-63,588	–	-1.44%	–
CBI	Exit	CHICAGO BRIDGE & IRON CO N V	$0	–	-56,163	–	-1.68%	–
NUS	Exit	NU SKIN ENTERPRISES INCcall	$0	–	-83,400	–	-1.94%	–
MASI	Exit	MASIMO CORP	$0	–	-184,106	–	-2.02%	–
PSGLQ	Exit	PERFORMANCE SPORTS GROUP LTD	$0	–	-255,836	–	-2.12%	–
CNC	Exit	CENTENE CORP DEL	$0	–	-55,159	–	-2.36%	–
HRG	Exit	HARBINGER GROUP INC	$0	–	-382,245	–	-2.59%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHScall	$0	–	-27,300	–	-2.68%	–
RE	Exit	EVEREST RE GROUP LTD	$0	–	-40,817	–	-3.42%	–
BGCP	Exit	BGC PARTNERS INCcl a	$0	–	-898,219	–	-3.45%	–
VOYA	Exit	VOYA FINL INC	$0	–	-177,212	–	-3.58%	–
GSAT	Exit	GLOBALSTAR INCput	$0	–	-1,991,900	–	-3.77%	–
MET	Exit	METLIFE INC	$0	–	-143,275	–	-3.98%	–
NUS	Exit	NU SKIN ENTERPRISES INCcl a	$0	–	-183,741	–	-4.27%	–
JGWEQ	Exit	J G WENTWORTH COcl a	$0	–	-736,379	–	-4.71%	–
EJ	Exit	E HOUSE CHINA HLDGS LTDadr	$0	–	-1,023,244	–	-5.03%	–
STC	Exit	STEWART INFORMATION SVCS COR	$0	–	-339,030	–	-5.14%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-300,012	–	-6.94%	–
SSNC	Exit	SS&C TECHNOLOGIES HLDGS INC	$0	–	-324,231	–	-7.35%	–
JLL	Exit	JONES LANG LASALLE INC	$0	–	-154,576	–	-10.09%	–
UHAL	Exit	AMERCO	$0	–	-93,285	–	-12.62%	–

Q3 2014

			Value		Shares		↓ Weighting
UHAL	Buy	AMERCO	$24,430,000	-9.8%	93,285	+0.2%	12.62%	-2.2%
JLL	Sell	JONES LANG LASALLE INC	$19,529,000	-10.3%	154,576	-10.3%	10.09%	-2.8%
SSNC	Buy	SS&C TECHNOLOGIES HLDGS INC	$14,230,000	+102.8%	324,231	+104.3%	7.35%	+119.8%
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$13,432,000	–	300,012	–	6.94%	–
STC	Buy	STEWART INFORMATION SVCS COR	$9,951,000	+26.9%	339,030	+34.1%	5.14%	+37.5%
EJ	Buy	E HOUSE CHINA HLDGS LTDadr	$9,741,000	+28.5%	1,023,244	+16.7%	5.03%	+39.2%
JGWEQ	New	J G WENTWORTH COcl a	$9,124,000	–	736,379	–	4.71%	–
NUS	Buy	NU SKIN ENTERPRISES INCcl a	$8,274,000	-26.0%	183,741	+21.5%	4.27%	-19.8%
MET	Buy	METLIFE INC	$7,697,000	+20.8%	143,275	+24.9%	3.98%	+30.9%
GSAT	New	GLOBALSTAR INCput	$7,290,000	–	1,991,900	–	3.77%	–
VOYA	Sell	VOYA FINL INC	$6,929,000	-39.9%	177,212	-44.2%	3.58%	-34.9%
BGCP	Sell	BGC PARTNERS INCcl a	$6,674,000	-48.5%	898,219	-48.4%	3.45%	-44.1%
RE	Buy	EVEREST RE GROUP LTD	$6,613,000	+17.4%	40,817	+16.3%	3.42%	+27.3%
IBM	New	INTERNATIONAL BUSINESS MACHScall	$5,182,000	–	27,300	–	2.68%	–
HRG	Sell	HARBINGER GROUP INC	$5,015,000	-18.0%	382,245	-20.7%	2.59%	-11.1%
CNC	Sell	CENTENE CORP DEL	$4,562,000	-33.2%	55,159	-38.9%	2.36%	-27.6%
PSGLQ	New	PERFORMANCE SPORTS GROUP LTD	$4,111,000	–	255,836	–	2.12%	–
MASI	New	MASIMO CORP	$3,918,000	–	184,106	–	2.02%	–
NUS	Buy	NU SKIN ENTERPRISES INCcall	$3,755,000	+247.7%	83,400	+471.2%	1.94%	+276.7%
CBI	Buy	CHICAGO BRIDGE & IRON CO N V	$3,249,000	+13.0%	56,163	+33.2%	1.68%	+22.4%
HLF	Sell	HERBALIFE LTD	$2,782,000	-83.8%	63,588	-76.0%	1.44%	-82.4%
AES	New	AES CORP	$2,333,000	–	164,553	–	1.20%	–
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$1,874,000	-75.0%	9,873	-76.2%	0.97%	-72.9%
IAC	Sell	IAC INTERACTIVECORP	$1,825,000	-89.4%	27,700	-88.9%	0.94%	-88.6%
GPRO	New	GOPRO INCput	$1,452,000	–	15,500	–	0.75%	–
CVEO	New	CIVEO CORP	$1,442,000	–	124,176	–	0.74%	–
CONN	New	CONNS INC	$1,364,000	–	45,045	–	0.70%	–
TUR	Sell	ISHARESmsci turkey etf	$1,197,000	-30.8%	24,397	-21.6%	0.62%	-25.0%
GKNT	Buy	GEEKNET INC	$1,168,000	-13.5%	125,542	+15.9%	0.60%	-6.4%
CPS	New	COOPER STD HLDGS INC	$871,000	–	13,953	–	0.45%	–
RVP	Buy	RETRACTABLE TECHNOLOGIES INC	$836,000	+23.1%	288,360	+6.1%	0.43%	+33.3%
GULTU	Sell	GULF COAST ULTRA DEEP RTY TRroyalty tr unt	$38,000	-32.1%	19,058	-0.0%	0.02%	-25.9%
WSTC	Exit	WEST CORP	$0	–	-42,098	–	0.00%	–
CLUBQ	Exit	TOWN SPORTS INTL HLDGS INC	$0	–	-15,200	–	-0.05%	–
RLGT	Exit	RADIANT LOGISTICS INC	$0	–	-47,924	–	-0.07%	–
ASUR	Exit	ASURE SOFTWARE INC	$0	–	-29,693	–	-0.08%	–
ZIPR	Exit	ZIPREALTY INC	$0	–	-63,826	–	-0.09%	–
SLRC	Exit	SOLAR CAP LTD	$0	–	-12,469	–	-0.13%	–
CXDO	Exit	CREXENDO INCcall	$0	–	-111,700	–	-0.17%	–
NCMI	Exit	NATIONAL CINEMEDIA INC	$0	–	-43,400	–	-0.36%	–
BTH	Exit	BLYTH INC	$0	–	-131,595	–	-0.49%	–
ADK	Exit	ADCARE HEALTH SYSTEMS INC	$0	–	-256,171	–	-0.52%	–
VMEM	Exit	VIOLIN MEMORY INC	$0	–	-315,460	–	-0.67%	–
ETFC	Exit	E TRADE FINANCIAL CORP	$0	–	-97,494	–	-0.99%	–
MHGC	Exit	MORGANS HOTEL GROUP CO	$0	–	-746,087	–	-2.82%	–
JGW	Exit	JGWPT HLDGS INCcl a	$0	–	-1,010,106	–	-5.42%	–

Q2 2014

			Value		Shares		↓ Weighting
UHAL	New	AMERCO	$27,081,000	–	93,137	–	12.91%	–
JLL	New	JONES LANG LASALLE INC	$21,781,000	–	172,329	–	10.38%	–
IAC	New	IAC INTERACTIVECORP	$17,289,000	–	249,730	–	8.24%	–
HLF	New	HERBALIFE LTD	$17,125,000	–	265,335	–	8.16%	–
BGCP	New	BGC PARTNERS INCcl a	$12,950,000	–	1,740,586	–	6.17%	–
VOYA	New	VOYA FINL INC	$11,532,000	–	317,344	–	5.50%	–
JGW	New	JGWPT HLDGS INCcl a	$11,374,000	–	1,010,106	–	5.42%	–
NUS	New	NU SKIN ENTERPRISES INCcl a	$11,183,000	–	151,199	–	5.33%	–
STC	New	STEWART INFORMATION SVCS COR	$7,843,000	–	252,912	–	3.74%	–
EJ	New	E HOUSE CHINA HLDGS LTDadr	$7,582,000	–	876,505	–	3.61%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$7,507,000	–	41,415	–	3.58%	–
SSNC	New	SS&C TECHNOLOGIES HLDGS INC	$7,018,000	–	158,700	–	3.34%	–
CNC	New	CENTENE CORP DEL	$6,830,000	–	90,334	–	3.26%	–
MET	New	METLIFE INC	$6,372,000	–	114,687	–	3.04%	–
HRG	New	HARBINGER GROUP INC	$6,118,000	–	481,721	–	2.92%	–
MHGC	New	MORGANS HOTEL GROUP CO	$5,916,000	–	746,087	–	2.82%	–
RE	New	EVEREST RE GROUP LTD	$5,631,000	–	35,086	–	2.68%	–
CBI	New	CHICAGO BRIDGE & IRON CO N V	$2,876,000	–	42,173	–	1.37%	–
ETFC	New	E TRADE FINANCIAL CORP	$2,073,000	–	97,494	–	0.99%	–
TUR	New	ISHARESmsci turkey etf	$1,729,000	–	31,123	–	0.82%	–
VMEM	New	VIOLIN MEMORY INC	$1,397,000	–	315,460	–	0.67%	–
GKNT	New	GEEKNET INC	$1,351,000	–	108,304	–	0.64%	–
HLF	New	HERBALIFE LTDcall	$1,117,000	–	17,300	–	0.53%	–
ADK	New	ADCARE HEALTH SYSTEMS INC	$1,096,000	–	256,171	–	0.52%	–
NUS	New	NU SKIN ENTERPRISES INCcall	$1,080,000	–	14,600	–	0.52%	–
BTH	New	BLYTH INC	$1,024,000	–	131,595	–	0.49%	–
PRXI	New	PREMIER EXIBITIONS INC	$942,000	–	1,163,201	–	0.45%	–
NCMI	New	NATIONAL CINEMEDIA INC	$760,000	–	43,400	–	0.36%	–
RVP	New	RETRACTABLE TECHNOLOGIES INC	$679,000	–	271,703	–	0.32%	–
STCK	New	STOCK BLDG SUPPLY HLDGS INC	$653,000	–	33,072	–	0.31%	–
SPRO	New	SMARTPROS LTD	$399,000	–	171,102	–	0.19%	–
CXDO	New	CREXENDO INCcall	$357,000	–	111,700	–	0.17%	–
SLRC	New	SOLAR CAP LTD	$265,000	–	12,469	–	0.13%	–
FSBK	New	FIRST SOUTH BANCORP INC VA	$195,000	–	24,415	–	0.09%	–
ZIPR	New	ZIPREALTY INC	$193,000	–	63,826	–	0.09%	–
ASUR	New	ASURE SOFTWARE INC	$179,000	–	29,693	–	0.08%	–
RLGT	New	RADIANT LOGISTICS INC	$148,000	–	47,924	–	0.07%	–
CLUBQ	New	TOWN SPORTS INTL HLDGS INC	$101,000	–	15,200	–	0.05%	–
GULTU	New	GULF COAST ULTRA DEEP RTY TRroyalty tr unt	$56,000	–	19,063	–	0.03%	–
WSTC	New	WEST CORP	$1,000	–	42,098	–	0.00%	–

Q4 2013

			Value		Shares		↓ Weighting
AMBOY	Exit	AMBOW ED HLDG LTDadr repstg cl a	$0	–	-20,000	–	-0.01%	–
CECO	Exit	CAREER EDUCATION CORP	$0	–	-14,700	–	-0.02%	–
FMD	Exit	FIRST MARBLEHEAD CORP	$0	–	-83,480	–	-0.03%	–
DXLG	Exit	DESTINATION XL GROUP INC	$0	–	-16,200	–	-0.05%	–
INFU	Exit	INFUSYSTEM HLDGS INC	$0	–	-84,180	–	-0.05%	–
ASUR	Exit	ASURE SOFTWARE INC	$0	–	-29,693	–	-0.06%	–
SYNC	Exit	SYNACOR INC	$0	–	-57,147	–	-0.07%	–
CEDU	Exit	CHINAEDU CORPspons adr	$0	–	-21,466	–	-0.07%	–
BPI	Exit	BRIDGEPOINT ED INC	$0	–	-10,090	–	-0.08%	–
NTE	Exit	NAM TAI ELECTRS INC	$0	–	-26,443	–	-0.10%	–
PRXI	Exit	PREMIER EXIBITIONS INC	$0	–	-137,886	–	-0.10%	–
EVI	Exit	ENVIROSTAR INC	$0	–	-116,061	–	-0.11%	–
NTS	Exit	NTS INC NEV	$0	–	-175,898	–	-0.13%	–
WSM	Exit	WILLIAMS SONOMA INC	$0	–	-5,600	–	-0.15%	–
SPRO	Exit	SMARTPROS LTD	$0	–	-171,960	–	-0.17%	–
STNR	Exit	STEINER LEISURE LTDord	$0	–	-6,400	–	-0.17%	–
DOLE	Exit	DOLE FOOD CO INC NEW	$0	–	-28,430	–	-0.18%	–
SKH	Exit	SKILLED HEALTHCARE GROUP INCcl a	$0	–	-92,909	–	-0.19%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-26,827	–	-0.22%	–
MW	Exit	MENS WEARHOUSE INC	$0	–	-16,243	–	-0.26%	–
BV	Exit	BAZAARVOICE INC	$0	–	-65,450	–	-0.28%	–
PENN	Exit	PENN NATL GAMING INC	$0	–	-10,899	–	-0.28%	–
TKMR	Exit	TEKMIRA PHARMACEUTICALS CORP	$0	–	-90,057	–	-0.29%	–
ADK	Exit	ADCARE HEALTH SYSTEMS INC	$0	–	-179,144	–	-0.34%	–
RT	Exit	RUBY TUESDAY INC	$0	–	-102,940	–	-0.36%	–
CALM	Exit	CAL MAINE FOODS INC	$0	–	-17,642	–	-0.39%	–
IBA	Exit	INDUSTRIAS BACHOCO S A B DEspon adr b	$0	–	-23,000	–	-0.42%	–
CLRO	Exit	CLEARONE INC	$0	–	-114,913	–	-0.43%	–
AGO	Exit	ASSURED GUARANTY LTD	$0	–	-54,118	–	-0.47%	–
TMS	Exit	TMS INTL CORPcl a	$0	–	-58,947	–	-0.48%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-23,987	–	-0.58%	–
OCIR	Exit	OCI RES LP	$0	–	-75,000	–	-0.64%	–
OIS	Exit	OIL STS INTL INC	$0	–	-14,056	–	-0.68%	–
SBH	Exit	SALLY BEAUTY HLDGS INC	$0	–	-57,133	–	-0.69%	–
COO	Exit	COOPER COS INC	$0	–	-11,593	–	-0.70%	–
RIOM	Exit	RIO ALTO MNG LTD NEW	$0	–	-796,313	–	-0.74%	–
STC	Exit	STEWART INFORMATION SVCS COR	$0	–	-55,582	–	-0.83%	–
STRA	Exit	STRAYER ED INC	$0	–	-45,289	–	-0.87%	–
TUR	Exit	ISHARESmsci turkey etf	$0	–	-37,324	–	-0.96%	–
MSPD	Exit	MINDSPEED TECHNOLOGIES INC	$0	–	-687,874	–	-0.97%	–
TA	Exit	TRAVELCENTERS OF AMERICA LLC	$0	–	-270,729	–	-0.99%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-51,616	–	-1.17%	–
BTH	Exit	BLYTH INC	$0	–	-184,971	–	-1.19%	–
AES	Exit	AES CORP	$0	–	-193,522	–	-1.20%	–
CHS	Exit	CHICOS FAS INC	$0	–	-154,856	–	-1.20%	–
IBKR	Exit	INTERACTIVE BROKERS GROUP IN	$0	–	-139,656	–	-1.22%	–
EXXIQ	Exit	ENERGY XXI (BERMUDA) LTD	$0	–	-91,249	–	-1.28%	–
GOOGL	Exit	GOOGLE INCcl a	$0	–	-3,257	–	-1.32%	–
CHL	Exit	CHINA MOBILE LIMITEDsponsored adr	$0	–	-50,709	–	-1.33%	–
CTB	Exit	COOPER TIRE & RUBR CO	$0	–	-95,609	–	-1.37%	–
BKEP	Exit	BLUEKNIGHT ENERGY PARTNERS L	$0	–	-425,342	–	-1.62%	–
HLF	Exit	HERBALIFE LTD	$0	–	-51,092	–	-1.66%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-33,448	–	-1.76%	–
APOL	Exit	APOLLO GROUP INCcl a	$0	–	-205,655	–	-1.99%	–
MET	Exit	METLIFE INC	$0	–	-92,985	–	-2.03%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-28	–	-2.22%	–
BAC	Exit	BANK OF AMERICA CORPORATION	$0	–	-409,251	–	-2.62%	–
VOYA	Exit	ING U S INC	$0	–	-218,001	–	-2.96%	–
RGA	Exit	REINSURANCE GROUP AMER INC	$0	–	-110,335	–	-3.43%	–
RE	Exit	EVEREST RE GROUP LTD	$0	–	-51,162	–	-3.46%	–
UNP	Exit	UNION PAC CORP	$0	–	-49,931	–	-3.60%	–
CB	Exit	CHUBB CORP	$0	–	-88,152	–	-3.66%	–
ACE	Exit	ACE LTD	$0	–	-96,122	–	-4.18%	–
MHGC	Exit	MORGANS HOTEL GROUP CO	$0	–	-1,344,082	–	-4.79%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-141,523	–	-4.86%	–
ETFC	Exit	E TRADE FINANCIAL CORP	$0	–	-663,121	–	-5.08%	–
JLL	Exit	JONES LANG LASALLE INC	$0	–	-140,854	–	-5.71%	–
LNN	Exit	LINDSAY CORP	$0	–	-158,182	–	-6.00%	–
UHAL	Exit	AMERCO	$0	–	-146,538	–	-12.53%	–

Q3 2013

			Value		Shares		↓ Weighting
UHAL	Buy	AMERCO	$26,982,000	+56.4%	146,538	+37.5%	12.53%	+57.7%
LNN	Buy	LINDSAY CORP	$12,911,000	+30.8%	158,182	+20.2%	6.00%	+31.9%
JLL	New	JONES LANG LASALLE INC	$12,297,000	–	140,854	–	5.71%	–
ETFC	Buy	E TRADE FINANCIAL CORP	$10,941,000	+37.0%	663,121	+5.1%	5.08%	+38.1%
WMT	Buy	WAL-MART STORES INC	$10,467,000	+14.5%	141,523	+15.3%	4.86%	+15.4%
MHGC	Buy	MORGANS HOTEL GROUP CO	$10,308,000	-0.6%	1,344,082	+4.5%	4.79%	+0.2%
ACE	Buy	ACE LTD	$8,993,000	+756.5%	96,122	+719.3%	4.18%	+763.0%
CB	New	CHUBB CORP	$7,868,000	–	88,152	–	3.66%	–
UNP	Buy	UNION PAC CORP	$7,756,000	+210.7%	49,931	+194.5%	3.60%	+213.3%
RE	New	EVEREST RE GROUP LTD	$7,439,000	–	51,162	–	3.46%	–
RGA	New	REINSURANCE GROUP AMER INC	$7,391,000	–	110,335	–	3.43%	–
VOYA	Buy	ING U S INC	$6,368,000	+37.8%	218,001	+27.6%	2.96%	+38.9%
BAC	Sell	BANK OF AMERICA CORPORATION	$5,648,000	-32.8%	409,251	-37.4%	2.62%	-32.2%
BRKA	Buy	BERKSHIRE HATHAWAY INC DELcl a	$4,771,000	+214.5%	28	+47.4%	2.22%	+217.0%
MET	Sell	METLIFE INC	$4,366,000	-17.5%	92,985	-19.6%	2.03%	-16.8%
APOL	Buy	APOLLO GROUP INCcl a	$4,280,000	+174.9%	205,655	+134.0%	1.99%	+177.3%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$3,797,000	+436.3%	33,448	+428.9%	1.76%	+441.1%
HLF	Sell	HERBALIFE LTD	$3,565,000	-64.1%	51,092	-76.8%	1.66%	-63.8%
CTB	New	COOPER TIRE & RUBR CO	$2,945,000	–	95,609	–	1.37%	–
CHL	Buy	CHINA MOBILE LIMITEDsponsored adr	$2,862,000	+19.7%	50,709	+6.4%	1.33%	+20.7%
GOOGL	Sell	GOOGLE INCcl a	$2,853,000	-11.6%	3,257	-18.2%	1.32%	-10.9%
EXXIQ	Buy	ENERGY XXI (BERMUDA) LTD	$2,757,000	+49.3%	91,249	+7.4%	1.28%	+50.5%
IBKR	Buy	INTERACTIVE BROKERS GROUP IN	$2,621,000	+26.2%	139,656	+7.4%	1.22%	+27.3%
CHS	New	CHICOS FAS INC	$2,580,000	–	154,856	–	1.20%	–
AES	Sell	AES CORP	$2,572,000	-69.7%	193,522	-72.7%	1.20%	-69.5%
BTH	Sell	BLYTH INC	$2,558,000	-14.1%	184,971	-13.3%	1.19%	-13.4%
AIG	Sell	AMERICAN INTL GROUP INC	$2,510,000	+191.5%	51,616	-31.2%	1.17%	+193.7%
TA	New	TRAVELCENTERS OF AMERICA LLC	$2,125,000	–	270,729	–	0.99%	–
MSPD	Buy	MINDSPEED TECHNOLOGIES INC	$2,091,000	+61.3%	687,874	+72.0%	0.97%	+62.6%
TUR	Sell	ISHARESmsci turkey etf	$2,059,000	-64.8%	37,324	-62.1%	0.96%	-64.5%
STRA	Sell	STRAYER ED INC	$1,880,000	-83.9%	45,289	-81.1%	0.87%	-83.8%
STC	New	STEWART INFORMATION SVCS COR	$1,778,000	–	55,582	–	0.83%	–
COO	Sell	COOPER COS INC	$1,503,000	-78.1%	11,593	-79.9%	0.70%	-78.0%
SBH	New	SALLY BEAUTY HLDGS INC	$1,495,000	–	57,133	–	0.69%	–
OIS	Buy	OIL STS INTL INC	$1,454,000	+276.7%	14,056	+237.5%	0.68%	+279.2%
OCIR	New	OCI RES LP	$1,376,000	–	75,000	–	0.64%	–
JPM	Buy	JPMORGAN CHASE & CO	$1,240,000	+4.8%	23,987	+7.0%	0.58%	+5.7%
TMS	Sell	TMS INTL CORPcl a	$1,028,000	-57.6%	58,947	-64.9%	0.48%	-57.2%
AGO	Buy	ASSURED GUARANTY LTD	$1,015,000	-8.8%	54,118	+7.3%	0.47%	-8.2%
CLRO	Buy	CLEARONE INC	$932,000	+37.3%	114,913	+44.1%	0.43%	+38.3%
IBA	New	INDUSTRIAS BACHOCO S A B DEspon adr b	$908,000	–	23,000	–	0.42%	–
RT	New	RUBY TUESDAY INC	$772,000	–	102,940	–	0.36%	–
ADK	New	ADCARE HEALTH SYSTEMS INC	$726,000	–	179,144	–	0.34%	–
TKMR	Buy	TEKMIRA PHARMACEUTICALS CORP	$626,000	+274.9%	90,057	+153.3%	0.29%	+277.9%
PENN	Buy	PENN NATL GAMING INC	$603,000	+46.4%	10,899	+40.0%	0.28%	+47.4%
BV	Buy	BAZAARVOICE INC	$594,000	+25.8%	65,450	+30.9%	0.28%	+27.2%
MW	Sell	MENS WEARHOUSE INC	$553,000	-75.6%	16,243	-72.9%	0.26%	-75.4%
MU	Buy	MICRON TECHNOLOGY INC	$469,000	+70.5%	26,827	+39.7%	0.22%	+71.7%
SKH	New	SKILLED HEALTHCARE GROUP INCcl a	$405,000	–	92,909	–	0.19%	–
DOLE	Buy	DOLE FOOD CO INC NEW	$387,000	+48.3%	28,430	+38.9%	0.18%	+50.0%
STNR	New	STEINER LEISURE LTDord	$374,000	–	6,400	–	0.17%	–
SPRO	Buy	SMARTPROS LTD	$368,000	+55.9%	171,960	+2.4%	0.17%	+56.9%
WSM	Sell	WILLIAMS SONOMA INC	$315,000	-93.8%	5,600	-93.9%	0.15%	-93.8%
PRXI	New	PREMIER EXIBITIONS INC	$211,000	–	137,886	–	0.10%	–
NTE	Buy	NAM TAI ELECTRS INC	$205,000	+101.0%	26,443	+45.0%	0.10%	+102.1%
BPI	Sell	BRIDGEPOINT ED INC	$182,000	-96.9%	10,090	-97.9%	0.08%	-96.8%
CEDU	New	CHINAEDU CORPspons adr	$150,000	–	21,466	–	0.07%	–
ASUR	Buy	ASURE SOFTWARE INC	$128,000	-0.8%	29,693	+33.5%	0.06%	0.0%
INFU	Buy	INFUSYSTEM HLDGS INC	$108,000	+38.5%	84,180	+61.2%	0.05%	+38.9%
DXLG	New	DESTINATION XL GROUP INC	$105,000	–	16,200	–	0.05%	–
FMD	New	FIRST MARBLEHEAD CORP	$68,000	–	83,480	–	0.03%	–
ESCA	Exit	ESCALADE INC	$0	–	-20,082	–	-0.06%	–
CO	Exit	CHINA CORD BLOOD CORP	$0	–	-66,012	–	-0.08%	–
BACWSA	Exit	BANK OF AMERICA CORPORATIONcall	$0	–	-55,998	–	-0.14%	–
DATE	Exit	JIAYUAN COM INTL LTDsponsored adr	$0	–	-62,582	–	-0.15%	–
ESINQ	Exit	ITT EDUCATIONAL SERVICES INC	$0	–	-16,975	–	-0.19%	–
RNET	Exit	RIGNET INC	$0	–	-16,871	–	-0.20%	–
MAXY	Exit	MAXYGEN INC	$0	–	-261,649	–	-0.28%	–
SNX	Exit	SYNNEX CORP	$0	–	-62,819	–	-1.22%	–
IPG	Exit	INTERPUBLIC GROUP COS INC	$0	–	-197,043	–	-1.32%	–
AAPL	Exit	APPLE INC	$0	–	-9,668	–	-1.69%	–
ALNY	Exit	ALNYLAM PHARMACEUTICALS INC	$0	–	-121,614	–	-1.74%	–
ORIG	Exit	OCEAN RIG UDW INC	$0	–	-269,388	–	-2.32%	–
ICE	Exit	INTERCONTINENTALEXCHANGE INC	$0	–	-30,472	–	-2.38%	–
CMA	Exit	COMERICA INC	$0	–	-295,907	–	-5.43%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-225,062	–	-6.52%	–

Q2 2013

			Value		Shares		↓ Weighting
UHAL	New	AMERCO	$17,252,000	–	106,559	–	7.95%	–
OMC	New	OMNICOM GROUP INC	$14,149,000	–	225,062	–	6.52%	–
CMA	New	COMERICA INC	$11,786,000	–	295,907	–	5.43%	–
STRA	New	STRAYER ED INC	$11,674,000	–	239,065	–	5.38%	–
MHGC	New	MORGANS HOTEL GROUP CO	$10,368,000	–	1,286,457	–	4.78%	–
HLF	New	HERBALIFE LTD	$9,924,000	–	219,850	–	4.57%	–
LNN	New	LINDSAY CORP	$9,868,000	–	131,608	–	4.55%	–
WMT	New	WAL-MART STORES INC	$9,141,000	–	122,720	–	4.21%	–
AES	New	AES CORP	$8,495,000	–	708,500	–	3.92%	–
BAC	New	BANK OF AMERICA CORPORATION	$8,404,000	–	653,494	–	3.87%	–
ETFC	New	E TRADE FINANCIAL CORP	$7,988,000	–	630,909	–	3.68%	–
COO	New	COOPER COS INC	$6,874,000	–	57,741	–	3.17%	–
TUR	New	ISHARES INCmsci turkey fd	$5,843,000	–	98,371	–	2.69%	–
BPI	New	BRIDGEPOINT ED INC	$5,801,000	–	488,468	–	2.67%	–
MET	New	METLIFE INC	$5,290,000	–	115,591	–	2.44%	–
ICE	New	INTERCONTINENTALEXCHANGE INC	$5,176,000	–	30,472	–	2.38%	–
WSM	New	WILLIAMS SONOMA INC	$5,112,000	–	92,389	–	2.36%	–
ORIG	New	OCEAN RIG UDW INC	$5,045,000	–	269,388	–	2.32%	–
VOYA	New	ING U S INC	$4,622,000	–	170,796	–	2.13%	–
ALNY	New	ALNYLAM PHARMACEUTICALS INC	$3,770,000	–	121,614	–	1.74%	–
BKEP	New	BLUEKNIGHT ENERGY PARTNERS L	$3,728,000	–	425,342	–	1.72%	–
AAPL	New	APPLE INC	$3,677,000	–	9,668	–	1.69%	–
GOOGL	New	GOOGLE INCcl a	$3,228,000	–	3,981	–	1.49%	–
BTH	New	BLYTH INC	$2,977,000	–	213,290	–	1.37%	–
IPG	New	INTERPUBLIC GROUP COS INC	$2,867,000	–	197,043	–	1.32%	–
SNX	New	SYNNEX CORP	$2,656,000	–	62,819	–	1.22%	–
UNP	New	UNION PAC CORP	$2,496,000	–	16,957	–	1.15%	–
TMS	New	TMS INTL CORPcl a	$2,422,000	–	167,937	–	1.12%	–
CHL	New	CHINA MOBILE LIMITEDsponsored adr	$2,390,000	–	47,665	–	1.10%	–
MW	New	MENS WEARHOUSE INC	$2,268,000	–	59,916	–	1.04%	–
IBKR	New	INTERACTIVE BROKERS GROUP IN	$2,077,000	–	130,090	–	0.96%	–
EXXIQ	New	ENERGY XXI (BERMUDA) LTD	$1,846,000	–	84,927	–	0.85%	–
APOL	New	APOLLO GROUP INCcl a	$1,557,000	–	87,891	–	0.72%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$1,517,000	–	19	–	0.70%	–
RIOM	New	RIO ALTO MNG LTD NEW	$1,441,000	–	796,313	–	0.66%	–
MSPD	New	MINDSPEED TECHNOLOGIES INC	$1,296,000	–	399,934	–	0.60%	–
JPM	New	JPMORGAN CHASE & CO	$1,183,000	–	22,409	–	0.54%	–
AGO	New	ASSURED GUARANTY LTD	$1,113,000	–	50,425	–	0.51%	–
ACE	New	ACE LTD	$1,050,000	–	11,732	–	0.48%	–
AIG	New	AMERICAN INTL GROUP INC	$861,000	–	75,043	–	0.40%	–
CALM	New	CAL MAINE FOODS INC	$820,000	–	17,642	–	0.38%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$708,000	–	6,324	–	0.33%	–
CLRO	New	CLEARONE INC	$679,000	–	79,768	–	0.31%	–
MAXY	New	MAXYGEN INC	$598,000	–	261,649	–	0.28%	–
BV	New	BAZAARVOICE INC	$472,000	–	50,000	–	0.22%	–
RNET	New	RIGNET INC	$430,000	–	16,871	–	0.20%	–
ESINQ	New	ITT EDUCATIONAL SERVICES INC	$414,000	–	16,975	–	0.19%	–
PENN	New	PENN NATL GAMING INC	$412,000	–	7,784	–	0.19%	–
OIS	New	OIL STS INTL INC	$386,000	–	4,165	–	0.18%	–
DATE	New	JIAYUAN COM INTL LTDsponsored adr	$326,000	–	62,582	–	0.15%	–
BACWSA	New	BANK OF AMERICA CORPORATIONcall	$306,000	–	55,998	–	0.14%	–
MU	New	MICRON TECHNOLOGY INC	$275,000	–	19,200	–	0.13%	–
NTS	New	NTS INC NEV	$276,000	–	175,898	–	0.13%	–
DOLE	New	DOLE FOOD CO INC NEW	$261,000	–	20,461	–	0.12%	–
SPRO	New	SMARTPROS LTD	$236,000	–	167,945	–	0.11%	–
CO	New	CHINA CORD BLOOD CORP	$185,000	–	66,012	–	0.08%	–
SYNC	New	SYNACOR INC	$177,000	–	57,147	–	0.08%	–
TKMR	New	TEKMIRA PHARMACEUTICALS CORP	$167,000	–	35,560	–	0.08%	–
EVI	New	ENVIROSTAR INC	$157,000	–	116,061	–	0.07%	–
ASUR	New	ASURE SOFTWARE INC	$129,000	–	22,243	–	0.06%	–
ESCA	New	ESCALADE INC	$124,000	–	20,082	–	0.06%	–
NTE	New	NAM TAI ELECTRS INC	$102,000	–	18,234	–	0.05%	–
INFU	New	INFUSYSTEM HLDGS INC	$78,000	–	52,219	–	0.04%	–
CECO	New	CAREER EDUCATION CORP	$43,000	–	14,700	–	0.02%	–
AMBOY	New	AMBOW ED HLDG LTDadr repstg cl a	$19,000	–	20,000	–	0.01%	–

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