Hawk Ridge Capital Management Activity Q2 2014-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
GMED	Buy	GLOBUS MED INCcl a	$110,509,580	+10.0%	2,225,772	+31.9%	5.44%	+2.0%
BLKB	Buy	BLACKBAUD INC	$104,395,666	+14.2%	1,484,580	+15.6%	5.14%	+5.9%
FIS	Buy	FIDELITY NATL INFORMATION SV	$97,598,419	+22.8%	1,765,848	+21.6%	4.80%	+14.0%
ACHC	Sell	ACADIA HEALTHCARE COMPANY IN	$93,599,555	-17.1%	1,331,241	-6.1%	4.60%	-23.1%
	New	ATLANTA BRAVES HLDGS INC	$90,081,404	–	2,521,170	–	4.43%	–
HPE	Sell	HEWLETT PACKARD ENTERPRISE C	$86,107,346	-14.3%	4,957,245	-17.1%	4.24%	-20.5%
ATR	Buy	APTARGROUP INC	$83,251,757	+11.2%	665,801	+3.1%	4.10%	+3.2%
AXTA	Buy	AXALTA COATING SYS LTD	$79,414,126	+22.4%	2,952,198	+49.3%	3.91%	+13.6%
AYX	Sell	ALTERYX INC	$77,113,740	-36.2%	2,046,000	-23.1%	3.79%	-40.8%
BIO	Buy	BIO RAD LABS INCcl a	$76,843,077	-5.4%	214,376	+0.0%	3.78%	-12.2%
APPN	Buy	APPIAN CORPcl a	$74,054,540	+5.7%	1,623,647	+10.3%	3.64%	-1.9%
RPD	Buy	RAPID7 INC	$72,893,617	+767.2%	1,592,259	+757.7%	3.59%	+704.0%
LZ	Buy	LEGALZOOM COM INC	$61,251,266	+33.6%	5,598,836	+47.5%	3.01%	+24.0%
WWD	Buy	WOODWARD INC	$60,892,619	+69.2%	490,042	+61.9%	3.00%	+56.9%
GTX	Buy	GARRETT MOTION INC	$57,751,370	+13.3%	7,328,854	+8.8%	2.84%	+5.1%
KAR	Sell	OPENLANE INC	$55,278,272	-5.4%	3,704,978	-3.5%	2.72%	-12.2%
ALLE	New	ALLEGION PLC	$53,142,000	–	510,000	–	2.62%	–
SONO	Buy	SONOS INC	$52,895,007	+281.5%	4,097,212	+382.6%	2.60%	+254.0%
MASI	Buy	MASIMO CORP	$49,781,635	+19.6%	567,765	+124.4%	2.45%	+11.0%
SIMO	Buy	SILICON MOTION TECHNOLOGY COsponsored adr	$48,408,649	+16.3%	944,559	+63.1%	2.38%	+8.0%
DNB	Buy	DUN & BRADSTREET HLDGS INC	$46,408,175	+25.1%	4,645,463	+44.9%	2.28%	+16.1%
LIVN	Sell	LIVANOVA PLC	$45,661,668	-32.5%	863,496	-34.4%	2.25%	-37.4%
SHC	Buy	SOTERA HEALTH CO	$42,402,598	+0.9%	2,830,614	+26.9%	2.09%	-6.3%
	Sell	BATH & BODY WORKS INC	$38,611,836	-25.9%	1,142,362	-17.8%	1.90%	-31.2%
IFF	Sell	INTERNATIONAL FLAVORS&FRAGRA	$38,318,562	-17.5%	562,103	-3.7%	1.88%	-23.4%
PLNT	New	PLANET FITNESS INCcl a	$29,476,476	–	599,359	–	1.45%	–
SIX	Buy	SIX FLAGS ENTMT CORP NEW	$28,067,837	+64.1%	1,193,868	+81.3%	1.38%	+52.3%
OUT	Sell	OUTFRONT MEDIA INC	$23,924,395	-56.6%	2,368,752	-32.4%	1.18%	-59.7%
	New	LIBERTY MEDIA CORP DEL	$23,433,000	–	730,000	–	1.15%	–
BL	New	BLACKLINE INC	$21,853,017	–	393,961	–	1.08%	–
BB	New	BLACKBERRY LTD	$21,315,576	–	4,525,600	–	1.05%	–
ATI	New	ATI INC	$18,727,283	–	455,098	–	0.92%	–
ENTG	New	ENTEGRIS INC	$18,274,886	–	194,600	–	0.90%	–
CRS	New	CARPENTER TECHNOLOGY CORP	$15,471,742	–	230,200	–	0.76%	–
SMCI	New	SUPER MICRO COMPUTER INC	$14,314,284	–	52,200	–	0.70%	–
PRMW	Sell	PRIMO WATER CORPORATION	$5,078,717	-66.1%	368,023	-69.2%	0.25%	-68.5%
CABO	New	CABLE ONE INC	$4,237,450	–	6,883	–	0.21%	–
CUTR	Buy	CUTERA INC	$2,678,352	-58.2%	444,909	+5.0%	0.13%	-61.2%
WOOF	New	PETCO HEALTH & WELLNESS CO I	$2,362,441	–	577,614	–	0.12%	–
	New	ATLANTA BRAVES HLDGS INC	$1,692,942	–	43,331	–	0.08%	–
CNC	New	CENTENE CORP DEL	$1,398,264	–	20,300	–	0.07%	–
FERG	Exit	FERGUSON PLC NEW	$0	–	-7,601	–	-0.06%	–
BAX	Exit	BAXTER INTL INC	$0	–	-31,300	–	-0.08%	–
BATRA	Exit	LIBERTY MEDIA CORP DEL	$0	–	-43,331	–	-0.09%	–
DISH	Exit	DISH NETWORK CORPORATIONcl a	$0	–	-306,378	–	-0.11%	–
OPEN	Exit	OPENDOOR TECHNOLOGIES INC	$0	–	-722,595	–	-0.15%	–
OEC	Exit	ORION S.A.	$0	–	-156,109	–	-0.18%	–
ONTF	Exit	ON24 INC	$0	–	-887,807	–	-0.38%	–
NCR	Exit	NCR CORP NEW	$0	–	-503,147	–	-0.67%	–
	Exit	APOLLO GLOBAL MGMT INC	$0	–	-420,428	–	-1.71%	–
EYE	Exit	NATIONAL VISION HLDGS INC	$0	–	-1,588,664	–	-2.05%	–
LYV	Exit	LIVE NATION ENTERTAINMENT IN	$0	–	-632,500	–	-3.06%	–
BATRK	Exit	LIBERTY MEDIA CORP DEL	$0	–	-2,348,170	–	-4.93%	–

Q2 2023

			Value		Shares		↓ Weighting
AYX	New	ALTERYX INC	$120,860,747	–	2,662,131	–	6.41%	–
ACHC	New	ACADIA HEALTHCARE COMPANY IN	$112,940,749	–	1,418,141	–	5.99%	–
GMED	New	GLOBUS MED INCcl a	$100,491,612	–	1,687,800	–	5.33%	–
HPE	New	HEWLETT PACKARD ENTERPRISE C	$100,457,801	–	5,979,631	–	5.33%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$99,822,194	–	1,529,139	–	5.29%	–
BATRK	New	LIBERTY MEDIA CORP DEL	$93,034,495	–	2,348,170	–	4.93%	–
BLKB	New	BLACKBAUD INC	$91,436,404	–	1,284,580	–	4.85%	–
BIO	New	BIO RAD LABS INCcl a	$81,236,317	–	214,276	–	4.31%	–
FIS	New	FIDELITY NATL INFORMATION SV	$79,445,624	–	1,452,388	–	4.21%	–
ATR	New	APTARGROUP INC	$74,845,676	–	646,001	–	3.97%	–
APPN	New	APPIAN CORPcl a	$70,063,059	–	1,471,913	–	3.72%	–
LIVN	New	LIVANOVA PLC	$67,648,708	–	1,315,355	–	3.59%	–
AXTA	New	AXALTA COATING SYS LTD	$64,872,752	–	1,977,225	–	3.44%	–
KAR	New	OPENLANE INC	$58,422,016	–	3,838,503	–	3.10%	–
LYV	New	LIVE NATION ENTERTAINMENT IN	$57,627,075	–	632,500	–	3.06%	–
OUT	New	OUTFRONT MEDIA INC	$55,077,409	–	3,503,652	–	2.92%	–
	New	BATH & BODY WORKS INC	$52,121,475	–	1,389,906	–	2.76%	–
GTX	New	GARRETT MOTION INC	$50,988,144	–	6,735,554	–	2.70%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$46,442,436	–	583,521	–	2.46%	–
LZ	New	LEGALZOOM COM INC	$45,854,194	–	3,795,877	–	2.43%	–
SHC	New	SOTERA HEALTH CO	$42,013,464	–	2,230,014	–	2.23%	–
MASI	New	MASIMO CORP	$41,631,479	–	253,002	–	2.21%	–
SIMO	New	SILICON MOTION TECHNOLOGY COsponsored adr	$41,613,982	–	579,098	–	2.21%	–
EYE	New	NATIONAL VISION HLDGS INC	$38,588,649	–	1,588,664	–	2.05%	–
DNB	New	DUN & BRADSTREET HLDGS INC	$37,082,544	–	3,205,060	–	1.97%	–
WWD	New	WOODWARD INC	$35,999,051	–	302,742	–	1.91%	–
	New	APOLLO GLOBAL MGMT INC	$32,293,075	–	420,428	–	1.71%	–
SIX	New	SIX FLAGS ENTMT CORP NEW	$17,104,764	–	658,382	–	0.91%	–
PRMW	New	PRIMO WATER CORPORATION	$14,983,080	–	1,194,823	–	0.79%	–
SONO	New	SONOS INC	$13,865,215	–	849,064	–	0.74%	–
NCR	New	NCR CORP NEW	$12,679,304	–	503,147	–	0.67%	–
RPD	New	RAPID7 INC	$8,405,779	–	185,640	–	0.45%	–
ONTF	New	ON24 INC	$7,208,993	–	887,807	–	0.38%	–
CUTR	New	CUTERA INC	$6,413,607	–	423,900	–	0.34%	–
OEC	New	ORION S.A.	$3,312,633	–	156,109	–	0.18%	–
OPEN	New	OPENDOOR TECHNOLOGIES INC	$2,904,832	–	722,595	–	0.15%	–
DISH	New	DISH NETWORK CORPORATIONcl a	$2,019,031	–	306,378	–	0.11%	–
BATRA	New	LIBERTY MEDIA CORP DEL	$1,773,105	–	43,331	–	0.09%	–
BAX	New	BAXTER INTL INC	$1,426,028	–	31,300	–	0.08%	–
FERG	New	FERGUSON PLC NEW	$1,195,713	–	7,601	–	0.06%	–

Q4 2022

			Value		Shares		↓ Weighting
	Exit	ARDAGH METAL PACKAGING S A*w exp 08/04/202	$0	–	-30,000	–	-0.00%	–
UP	Exit	WHEELS UP EXPERIENCE INC	$0	–	-739,700	–	-0.05%	–
BATRA	Exit	LIBERTY MEDIA CORP DEL	$0	–	-43,331	–	-0.08%	–
CRL	Exit	CHARLES RIV LABS INTL INC	$0	–	-7,900	–	-0.10%	–
PRPL	Exit	PURPLE INNOVATION INC	$0	–	-420,000	–	-0.11%	–
LBRDK	Exit	LIBERTY BROADBAND CORP	$0	–	-62,200	–	-0.29%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-30,300	–	-0.32%	–
WEX	Exit	WEX INC	$0	–	-41,300	–	-0.33%	–
SPR	Exit	SPIRIT AEROSYSTEMS HLDGS INC	$0	–	-266,881	–	-0.37%	–
ETWO	Exit	E2OPEN PARENT HOLDINGS INC	$0	–	-1,066,032	–	-0.41%	–
	Exit	ROVER GROUP INC	$0	–	-2,080,753	–	-0.44%	–
OPEN	Exit	OPENDOOR TECHNOLOGIES INC	$0	–	-2,677,500	–	-0.52%	–
GOOS	Exit	CANADA GOOSE HLDGS INC	$0	–	-605,023	–	-0.58%	–
	Exit	REMITLY GLOBAL INC	$0	–	-972,830	–	-0.68%	–
RAMP	Exit	LIVERAMP HLDGS INC	$0	–	-606,943	–	-0.69%	–
VNET	Exit	VNET GROUP INCsponsored ads a	$0	–	-2,012,222	–	-0.70%	–
PRMW	Exit	PRIMO WATER CORPORATION	$0	–	-1,274,323	–	-1.00%	–
COOP	Exit	MR COOPER GROUP INC	$0	–	-413,351	–	-1.05%	–
	Exit	ARDAGH METAL PACKAGING S A	$0	–	-3,506,798	–	-1.07%	–
DSEY	Exit	DIVERSEY HLDGS LTD	$0	–	-3,547,973	–	-1.08%	–
DISH	Exit	DISH NETWORK CORPORATIONcl a	$0	–	-1,320,762	–	-1.15%	–
STT	Exit	STATE STR CORP	$0	–	-329,195	–	-1.26%	–
ONTF	Exit	ON24 INC	$0	–	-2,319,068	–	-1.28%	–
HPE	Exit	HEWLETT PACKARD ENTERPRISE C	$0	–	-1,727,300	–	-1.30%	–
BWXT	Exit	BWX TECHNOLOGIES INC	$0	–	-439,266	–	-1.39%	–
MASI	Exit	MASIMO CORP	$0	–	-179,308	–	-1.59%	–
GTXAP	Exit	GARRETT MOTION INCpfd conv ser a	$0	–	-3,676,595	–	-1.64%	–
TNET	Exit	TRINET GROUP INC	$0	–	-391,830	–	-1.75%	–
VVV	Exit	VALVOLINE INC	$0	–	-1,232,990	–	-1.96%	–
SQSP	Exit	SQUARESPACE INCclass a	$0	–	-1,572,660	–	-2.11%	–
OEC	Exit	ORION ENGINEERED CARBONS S A	$0	–	-2,674,119	–	-2.24%	–
COMT	Exit	ISHARES U S ETF TRgsci cmdty stgy	$0	–	-1,060,800	–	-2.38%	–
BIO	Exit	BIO RAD LABS INCcl a	$0	–	-98,686	–	-2.58%	–
OUT	Exit	OUTFRONT MEDIA INC	$0	–	-2,821,548	–	-2.69%	–
LZ	Exit	LEGALZOOM COM INC	$0	–	-6,355,951	–	-3.42%	–
UPWK	Exit	UPWORK INC	$0	–	-4,176,149	–	-3.57%	–
AXTA	Exit	AXALTA COATING SYS LTD	$0	–	-2,725,897	–	-3.60%	–
ATR	Exit	APTARGROUP INC	$0	–	-608,501	–	-3.63%	–
	Exit	BATH & BODY WORKS INC	$0	–	-1,782,706	–	-3.65%	–
JACK	Exit	JACK IN THE BOX INC	$0	–	-787,823	–	-3.66%	–
KAR	Exit	KAR AUCTION SVCS INC	$0	–	-5,266,511	–	-3.69%	–
SONO	Exit	SONOS INC	$0	–	-4,466,684	–	-3.90%	–
BATRK	Exit	LIBERTY MEDIA CORP DEL	$0	–	-2,287,962	–	-3.95%	–
	Exit	APOLLO GLOBAL MGMT INC	$0	–	-1,368,293	–	-4.00%	–
LIVN	Exit	LIVANOVA PLC	$0	–	-1,276,955	–	-4.07%	–
BLKB	Exit	BLACKBAUD INC	$0	–	-1,479,265	–	-4.09%	–
FERG	Exit	FERGUSON PLC NEW	$0	–	-632,408	–	-4.15%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA	$0	–	-840,000	–	-4.79%	–
SMCI	Exit	SUPER MICRO COMPUTER INC	$0	–	-1,482,392	–	-5.13%	–
LW	Exit	LAMB WESTON HLDGS INC	$0	–	-1,131,908	–	-5.50%	–

Q3 2022

			Value		Shares		↓ Weighting
LW	Sell	LAMB WESTON HLDGS INC	$87,587,000	-20.7%	1,131,908	-26.8%	5.50%	-28.2%
SMCI	Buy	SUPER MICRO COMPUTER INC	$81,635,000	+37.7%	1,482,392	+0.9%	5.13%	+24.7%
IFF	Buy	INTERNATIONAL FLAVORS&FRAGRA	$76,297,000	+15.7%	840,000	+51.7%	4.79%	+4.7%
FERG	Buy	FERGUSON PLC NEW	$66,130,000	+24.8%	632,408	+33.5%	4.15%	+13.0%
BLKB	New	BLACKBAUD INC	$65,176,000	–	1,479,265	–	4.09%	–
LIVN	Buy	LIVANOVA PLC	$64,831,000	-15.7%	1,276,955	+3.8%	4.07%	-23.6%
BATRK	Buy	LIBERTY MEDIA CORP DEL	$62,919,000	+72.1%	2,287,962	+50.2%	3.95%	+55.9%
SONO	Buy	SONOS INC	$62,087,000	+106.4%	4,466,684	+167.8%	3.90%	+86.9%
KAR	Sell	KAR AUCTION SVCS INC	$58,827,000	-24.4%	5,266,511	-0.0%	3.69%	-31.5%
JACK	Buy	JACK IN THE BOX INC	$58,354,000	+38.3%	787,823	+4.7%	3.66%	+25.2%
	New	BATH & BODY WORKS INC	$58,116,000	–	1,782,706	–	3.65%	–
AXTA	Buy	AXALTA COATING SYS LTD	$57,407,000	+176.5%	2,725,897	+190.3%	3.60%	+150.5%
UPWK	Buy	UPWORK INC	$56,879,000	-18.1%	4,176,149	+24.4%	3.57%	-25.8%
LZ	Buy	LEGALZOOM COM INC	$54,471,000	+13.4%	6,355,951	+45.4%	3.42%	+2.7%
OUT	Buy	OUTFRONT MEDIA INC	$42,859,000	-4.6%	2,821,548	+6.5%	2.69%	-13.6%
BIO	New	BIO RAD LABS INCcl a	$41,166,000	–	98,686	–	2.58%	–
OEC	Buy	ORION ENGINEERED CARBONS S A	$35,699,000	+399.1%	2,674,119	+480.7%	2.24%	+352.0%
SQSP	Buy	SQUARESPACE INCclass a	$33,592,000	+32.8%	1,572,660	+30.1%	2.11%	+20.3%
VVV	Sell	VALVOLINE INC	$31,244,000	-30.8%	1,232,990	-21.3%	1.96%	-37.3%
TNET	Sell	TRINET GROUP INC	$27,906,000	-29.5%	391,830	-23.2%	1.75%	-36.2%
MASI	New	MASIMO CORP	$25,311,000	–	179,308	–	1.59%	–
BWXT	Sell	BWX TECHNOLOGIES INC	$22,126,000	-58.9%	439,266	-55.1%	1.39%	-62.8%
HPE	New	HEWLETT PACKARD ENTERPRISE C	$20,693,000	–	1,727,300	–	1.30%	–
STT	Buy	STATE STR CORP	$20,018,000	+78.6%	329,195	+81.0%	1.26%	+61.8%
DSEY	Buy	DIVERSEY HLDGS LTD	$17,243,000	+21.6%	3,547,973	+65.2%	1.08%	+10.2%
	Sell	ARDAGH METAL PACKAGING S A	$16,973,000	-52.3%	3,506,798	-39.9%	1.07%	-56.8%
PRMW	Sell	PRIMO WATER CORPORATION	$15,993,000	-26.9%	1,274,323	-22.1%	1.00%	-33.8%
VNET	New	VNET GROUP INCsponsored ads a	$11,067,000	–	2,012,222	–	0.70%	–
RAMP	Buy	LIVERAMP HLDGS INC	$11,022,000	+12.3%	606,943	+59.6%	0.69%	+1.8%
	Sell	REMITLY GLOBAL INC	$10,818,000	-53.4%	972,830	-67.9%	0.68%	-57.8%
GOOS	Sell	CANADA GOOSE HLDGS INC	$9,221,000	-59.2%	605,023	-51.8%	0.58%	-63.1%
OPEN	New	OPENDOOR TECHNOLOGIES INC	$8,327,000	–	2,677,500	–	0.52%	–
	Buy	ROVER GROUP INC	$6,950,000	-9.2%	2,080,753	+2.2%	0.44%	-17.9%
ETWO	New	E2OPEN PARENT HOLDINGS INC	$6,471,000	–	1,066,032	–	0.41%	–
SPR	New	SPIRIT AEROSYSTEMS HLDGS INC	$5,850,000	–	266,881	–	0.37%	–
WEX	New	WEX INC	$5,243,000	–	41,300	–	0.33%	–
VRSK	New	VERISK ANALYTICS INC	$5,167,000	–	30,300	–	0.32%	–
LBRDK	New	LIBERTY BROADBAND CORP	$4,590,000	–	62,200	–	0.29%	–
HIMS	Exit	HIMS & HERS HEALTH INC	$0	–	-309,600	–	-0.10%	–
LAMR	Exit	LAMAR ADVERTISING CO NEWcl a	$0	–	-31,874	–	-0.19%	–
CBT	Exit	CABOT CORP	$0	–	-75,455	–	-0.33%	–
APPS	Exit	DIGITAL TURBINE INC	$0	–	-319,400	–	-0.39%	–
BYD	Exit	BOYD GAMING CORP	$0	–	-127,485	–	-0.44%	–
BRKS	Exit	AZENTA INC	$0	–	-108,164	–	-0.54%	–
OSPN	Exit	ONESPAN INC	$0	–	-767,975	–	-0.63%	–
ACHC	Exit	ACADIA HEALTHCARE COMPANY IN	$0	–	-171,371	–	-0.80%	–
PAYO	Exit	PAYONEER GLOBAL INC	$0	–	-2,981,765	–	-0.81%	–
YEXT	Exit	YEXT INC	$0	–	-3,445,610	–	-1.14%	–
	Exit	ENOVIS CORPORATION	$0	–	-351,277	–	-1.34%	–
FTDR	Exit	FRONTDOOR INC	$0	–	-978,820	–	-1.63%	–

Q2 2022

			Value		Shares		↓ Weighting
LW	New	LAMB WESTON HLDGS INC	$110,518,000	–	1,546,577	–	7.66%	–
KAR	New	KAR AUCTION SVCS INC	$77,794,000	–	5,267,036	–	5.39%	–
LIVN	New	LIVANOVA PLC	$76,860,000	–	1,230,355	–	5.33%	–
UPWK	New	UPWORK INC	$69,447,000	–	3,358,153	–	4.82%	–
	New	APOLLO GLOBAL MGMT INC	$66,335,000	–	1,368,293	–	4.60%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$65,969,000	–	553,800	–	4.57%	–
ATR	New	APTARGROUP INC	$62,803,000	–	608,501	–	4.35%	–
SMCI	New	SUPER MICRO COMPUTER INC	$59,288,000	–	1,469,349	–	4.11%	–
BWXT	New	BWX TECHNOLOGIES INC	$53,865,000	–	977,760	–	3.73%	–
FERG	New	FERGUSON PLC NEW	$52,995,000	–	473,632	–	3.67%	–
LZ	New	LEGALZOOM COM INC	$48,039,000	–	4,371,137	–	3.33%	–
VVV	New	VALVOLINE INC	$45,158,000	–	1,566,359	–	3.13%	–
OUT	New	OUTFRONT MEDIA INC	$44,910,000	–	2,649,548	–	3.11%	–
COMT	New	ISHARES U S ETF TRgsci cmdty stgy	$43,429,000	–	1,060,800	–	3.01%	–
JACK	New	JACK IN THE BOX INC	$42,198,000	–	752,723	–	2.93%	–
TNET	New	TRINET GROUP INC	$39,604,000	–	510,225	–	2.75%	–
BATRK	New	LIBERTY MEDIA CORP DEL	$36,558,000	–	1,523,270	–	2.54%	–
	New	ARDAGH METAL PACKAGING S A	$35,617,000	–	5,838,824	–	2.47%	–
GTXAP	New	GARRETT MOTION INCpfd conv ser a	$30,222,000	–	3,676,595	–	2.10%	–
SONO	New	SONOS INC	$30,088,000	–	1,667,844	–	2.09%	–
SQSP	New	SQUARESPACE INCclass a	$25,292,000	–	1,208,964	–	1.75%	–
DISH	New	DISH NETWORK CORPORATIONcl a	$23,681,000	–	1,320,762	–	1.64%	–
FTDR	New	FRONTDOOR INC	$23,570,000	–	978,820	–	1.63%	–
	New	REMITLY GLOBAL INC	$23,218,000	–	3,031,071	–	1.61%	–
GOOS	New	CANADA GOOSE HLDGS INC	$22,607,000	–	1,255,223	–	1.57%	–
ONTF	New	ON24 INC	$22,008,000	–	2,319,068	–	1.53%	–
PRMW	New	PRIMO WATER CORPORATION	$21,877,000	–	1,635,023	–	1.52%	–
AXTA	New	AXALTA COATING SYS LTD	$20,760,000	–	938,959	–	1.44%	–
	New	ENOVIS CORPORATION	$19,320,000	–	351,277	–	1.34%	–
YEXT	New	YEXT INC	$16,470,000	–	3,445,610	–	1.14%	–
COOP	New	MR COOPER GROUP INC	$15,187,000	–	413,351	–	1.05%	–
DSEY	New	DIVERSEY HLDGS LTD	$14,176,000	–	2,147,935	–	0.98%	–
PAYO	New	PAYONEER GLOBAL INC	$11,689,000	–	2,981,765	–	0.81%	–
ACHC	New	ACADIA HEALTHCARE COMPANY IN	$11,590,000	–	171,371	–	0.80%	–
STT	New	STATE STR CORP	$11,211,000	–	181,856	–	0.78%	–
RAMP	New	LIVERAMP HLDGS INC	$9,813,000	–	380,208	–	0.68%	–
OSPN	New	ONESPAN INC	$9,139,000	–	767,975	–	0.63%	–
BRKS	New	AZENTA INC	$7,799,000	–	108,164	–	0.54%	–
	New	ROVER GROUP INC	$7,654,000	–	2,035,762	–	0.53%	–
OEC	New	ORION ENGINEERED CARBONS S A	$7,152,000	–	460,500	–	0.50%	–
BYD	New	BOYD GAMING CORP	$6,342,000	–	127,485	–	0.44%	–
APPS	New	DIGITAL TURBINE INC	$5,580,000	–	319,400	–	0.39%	–
CBT	New	CABOT CORP	$4,813,000	–	75,455	–	0.33%	–
LAMR	New	LAMAR ADVERTISING CO NEWcl a	$2,804,000	–	31,874	–	0.19%	–
CRL	New	CHARLES RIV LABS INTL INC	$1,690,000	–	7,900	–	0.12%	–
UP	New	WHEELS UP EXPERIENCE INC	$1,442,000	–	739,700	–	0.10%	–
HIMS	New	HIMS & HERS HEALTH INC	$1,402,000	–	309,600	–	0.10%	–
PRPL	New	PURPLE INNOVATION INC	$1,285,000	–	420,000	–	0.09%	–
BATRA	New	LIBERTY MEDIA CORP DEL	$1,090,000	–	43,331	–	0.08%	–
	New	ARDAGH METAL PACKAGING S A*w exp 08/04/202	$30,000	–	30,000	–	0.00%	–

Q4 2021

			Value		Shares		↓ Weighting
	Exit	ARDAGH METAL PACKAGING S A*w exp 08/04/202	$0	–	-30,000	–	-0.00%	–
IPODWS	Exit	SOCIAL CAPITAL HEDOSOPHA HLD*w exp 09/26/202	$0	–	-93,550	–	-0.01%	–
IPOFWS	Exit	SOCIAL CAPITAL HEDOSOPHA HLD*w exp 09/26/202	$0	–	-198,950	–	-0.02%	–
HIMS	Exit	HIMS & HERS HEALTH INC	$0	–	-138,191	–	-0.07%	–
BATRA	Exit	LIBERTY MEDIA CORP DEL	$0	–	-43,331	–	-0.08%	–
GTX	Exit	GARRETT MOTION INC	$0	–	-225,524	–	-0.11%	–
FTCH	Exit	FARFETCH LTDord sh cl a	$0	–	-51,400	–	-0.12%	–
ARD	Exit	ARDAGH GROUP S Acl a	$0	–	-125,778	–	-0.21%	–
SLQT	Exit	SELECTQUOTE INC	$0	–	-250,000	–	-0.21%	–
IPOD	Exit	SOCIAL CAPITAL HEDOSOPHA HLD	$0	–	-374,200	–	-0.24%	–
BLKB	Exit	BLACKBAUD INC	$0	–	-75,700	–	-0.34%	–
	Exit	CCC INTELLIGENT SOLUTIONS HL	$0	–	-588,300	–	-0.40%	–
IPOF	Exit	SOCIAL CAPITAL HEDOSOPHA HLD	$0	–	-795,800	–	-0.52%	–
DECK	Exit	DECKERS OUTDOOR CORP	$0	–	-28,500	–	-0.66%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA	$0	–	-82,665	–	-0.71%	–
OSPN	Exit	ONESPAN INC	$0	–	-767,975	–	-0.93%	–
TNET	Exit	TRINET GROUP INC	$0	–	-185,257	–	-1.13%	–
BWXT	Exit	BWX TECHNOLOGIES INC	$0	–	-334,380	–	-1.16%	–
ZNGA	Exit	ZYNGA INCcl a	$0	–	-2,647,305	–	-1.28%	–
TVTY	Exit	TIVITY HEALTH INC	$0	–	-909,177	–	-1.35%	–
BRKS	Exit	BROOKS AUTOMATION INC NEW	$0	–	-235,564	–	-1.55%	–
OPEN	Exit	OPENDOOR TECHNOLOGIES INC	$0	–	-1,298,100	–	-1.71%	–
VNET	Exit	21VIANET GROUP INCsponsored ads a	$0	–	-1,668,753	–	-1.86%	–
MOS	Exit	MOSAIC CO NEW	$0	–	-886,655	–	-2.04%	–
CDK	Exit	CDK GLOBAL INC	$0	–	-784,145	–	-2.14%	–
ITGR	Exit	INTEGER HLDGS CORP	$0	–	-415,892	–	-2.39%	–
PRMW	Exit	PRIMO WATER CORPORATION	$0	–	-2,501,923	–	-2.53%	–
SONO	Exit	SONOS INC	$0	–	-1,234,119	–	-2.57%	–
BATRK	Exit	LIBERTY MEDIA CORP DEL	$0	–	-1,523,270	–	-2.59%	–
KAR	Exit	KAR AUCTION SVCS INC	$0	–	-2,629,100	–	-2.77%	–
	Exit	ARDAGH METAL PACKAGING S A	$0	–	-4,437,370	–	-2.84%	–
PRPL	Exit	PURPLE INNOVATION INC	$0	–	-2,119,218	–	-2.86%	–
EPAY	Exit	BOTTOMLINE TECH DEL INC	$0	–	-1,151,337	–	-2.91%	–
CHNG	Exit	CHANGE HEALTHCARE INC	$0	–	-2,379,382	–	-3.20%	–
VVV	Exit	VALVOLINE INC	$0	–	-1,679,207	–	-3.36%	–
	Exit	BATH & BODY WORKS INC	$0	–	-842,685	–	-3.41%	–
USFD	Exit	US FOODS HLDG CORP	$0	–	-1,536,724	–	-3.42%	–
FTDR	Exit	FRONTDOOR INC	$0	–	-1,305,120	–	-3.51%	–
LAD	Exit	LITHIA MTRS INC	$0	–	-174,716	–	-3.56%	–
DISH	Exit	DISH NETWORK CORPORATIONcl a	$0	–	-1,320,762	–	-3.69%	–
LW	Exit	LAMB WESTON HLDGS INC	$0	–	-1,077,700	–	-4.25%	–
ATR	Exit	APTARGROUP INC	$0	–	-563,701	–	-4.32%	–
SMCI	Exit	SUPER MICRO COMPUTER INC	$0	–	-1,841,861	–	-4.33%	–
OUT	Exit	OUTFRONT MEDIA INC	$0	–	-3,010,548	–	-4.87%	–
LIVN	Exit	LIVANOVA PLC	$0	–	-1,067,655	–	-5.43%	–
FERG	Exit	FERGUSON PLC NEW	$0	–	-671,691	–	-6.01%	–
APO	Exit	APOLLO GLOBAL MGMT INC	$0	–	-1,606,621	–	-6.36%	–

Q3 2021

			Value		Shares		↓ Weighting
APO	Sell	APOLLO GLOBAL MGMT INC	$98,952,000	-12.2%	1,606,621	-11.3%	6.36%	-21.4%
LIVN	Sell	LIVANOVA PLC	$84,548,000	-22.6%	1,067,655	-17.7%	5.43%	-30.7%
OUT	Buy	OUTFRONT MEDIA INC	$75,866,000	+12.4%	3,010,548	+7.2%	4.87%	+0.6%
ATR	Buy	APTARGROUP INC	$67,278,000	+46.3%	563,701	+72.6%	4.32%	+30.9%
LW	New	LAMB WESTON HLDGS INC	$66,138,000	–	1,077,700	–	4.25%	–
LAD	Sell	LITHIA MTRS INC	$55,392,000	-21.0%	174,716	-14.3%	3.56%	-29.3%
USFD	Buy	US FOODS HLDG CORP	$53,263,000	-2.1%	1,536,724	+8.3%	3.42%	-12.5%
	New	BATH & BODY WORKS INC	$53,114,000	–	842,685	–	3.41%	–
VVV	Sell	VALVOLINE INC	$52,358,000	-5.5%	1,679,207	-1.6%	3.36%	-15.4%
CHNG	Buy	CHANGE HEALTHCARE INC	$49,824,000	+14.8%	2,379,382	+26.3%	3.20%	+2.7%
EPAY	Buy	BOTTOMLINE TECH DEL INC	$45,225,000	+21.0%	1,151,337	+14.3%	2.91%	+8.3%
	New	ARDAGH METAL PACKAGING S A	$44,196,000	–	4,437,370	–	2.84%	–
KAR	New	KAR AUCTION SVCS INC	$43,091,000	–	2,629,100	–	2.77%	–
SONO	Sell	SONOS INC	$39,936,000	-15.7%	1,234,119	-8.2%	2.57%	-24.6%
ITGR	Sell	INTEGER HLDGS CORP	$37,156,000	-35.2%	415,892	-31.7%	2.39%	-42.1%
CDK	New	CDK GLOBAL INC	$33,365,000	–	784,145	–	2.14%	–
MOS	Buy	MOSAIC CO NEW	$31,671,000	+26.8%	886,655	+13.3%	2.04%	+13.4%
VNET	New	21VIANET GROUP INCsponsored ads a	$28,886,000	–	1,668,753	–	1.86%	–
OPEN	New	OPENDOOR TECHNOLOGIES INC	$26,650,000	–	1,298,100	–	1.71%	–
BRKS	New	BROOKS AUTOMATION INC NEW	$24,110,000	–	235,564	–	1.55%	–
TVTY	Buy	TIVITY HEALTH INC	$20,966,000	+21.2%	909,177	+38.3%	1.35%	+8.5%
ZNGA	Sell	ZYNGA INCcl a	$19,934,000	-53.5%	2,647,305	-34.4%	1.28%	-58.4%
BWXT	New	BWX TECHNOLOGIES INC	$18,010,000	–	334,380	–	1.16%	–
TNET	New	TRINET GROUP INC	$17,522,000	–	185,257	–	1.13%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$11,054,000	–	82,665	–	0.71%	–
DECK	New	DECKERS OUTDOOR CORP	$10,266,000	–	28,500	–	0.66%	–
	New	CCC INTELLIGENT SOLUTIONS HL	$6,183,000	–	588,300	–	0.40%	–
BLKB	New	BLACKBAUD INC	$5,325,000	–	75,700	–	0.34%	–
SLQT	New	SELECTQUOTE INC	$3,233,000	–	250,000	–	0.21%	–
FTCH	Sell	FARFETCH LTDord sh cl a	$1,926,000	-64.6%	51,400	-52.4%	0.12%	-68.2%
GTX	Sell	GARRETT MOTION INC	$1,662,000	-13.0%	225,524	-5.8%	0.11%	-21.9%
HIMS	New	HIMS & HERS HEALTH INC	$1,042,000	–	138,191	–	0.07%	–
	New	ARDAGH METAL PACKAGING S A*w exp 08/04/202	$65,000	–	30,000	–	0.00%	–
ATIP	Exit	ATI PHYSICAL THERAPY INC	$0	–	-34,800	–	-0.02%	–
GRSVU	Exit	GORES HLDGS V INCunit 99/99/9999	$0	–	-150,000	–	-0.11%	–
RCM	Exit	R1 RCM INC	$0	–	-92,800	–	-0.15%	–
RMR	Exit	RMR GROUP INCcl a	$0	–	-65,354	–	-0.18%	–
CLI	Exit	MACK CALI RLTY CORP	$0	–	-202,600	–	-0.25%	–
PLNT	Exit	PLANET FITNESS INCcl a	$0	–	-78,587	–	-0.42%	–
HIMX	Exit	HIMAX TECHNOLOGIES INCcall	$0	–	-800,000	–	-0.96%	–
CBOE	Exit	CBOE GLOBAL MKTS INC	$0	–	-153,998	–	-1.32%	–
GRSV	Exit	GORES HLDGS V INC	$0	–	-4,326,948	–	-3.14%	–
LB	Exit	L BRANDS INC	$0	–	-734,685	–	-3.80%	–

Q2 2021

			Value		Shares		↓ Weighting
APO	New	APOLLO GLOBAL MGMT INC	$112,650,000	–	1,811,093	–	8.09%	–
LIVN	New	LIVANOVA PLC	$109,170,000	–	1,297,947	–	7.84%	–
FERG	New	FERGUSON PLC NEW	$93,346,000	–	671,691	–	6.70%	–
LAD	New	LITHIA MTRS INC	$70,074,000	–	203,916	–	5.03%	–
OUT	New	OUTFRONT MEDIA INC	$67,468,000	–	2,807,648	–	4.84%	–
FTDR	New	FRONTDOOR INC	$65,021,000	–	1,305,120	–	4.67%	–
SMCI	New	SUPER MICRO COMPUTER INC	$64,797,000	–	1,841,861	–	4.65%	–
ITGR	New	INTEGER HLDGS CORP	$57,377,000	–	609,099	–	4.12%	–
PRPL	New	PURPLE INNOVATION INC	$55,969,000	–	2,119,218	–	4.02%	–
VVV	New	VALVOLINE INC	$55,392,000	–	1,706,466	–	3.98%	–
DISH	New	DISH NETWORK CORPORATIONcl a	$55,208,000	–	1,320,762	–	3.96%	–
USFD	New	US FOODS HLDG CORP	$54,427,000	–	1,418,847	–	3.91%	–
LB	New	L BRANDS INC	$52,941,000	–	734,685	–	3.80%	–
SONO	New	SONOS INC	$47,376,000	–	1,344,753	–	3.40%	–
ATR	New	APTARGROUP INC	$45,998,000	–	326,601	–	3.30%	–
GRSV	New	GORES HLDGS V INC	$43,702,000	–	4,326,948	–	3.14%	–
CHNG	New	CHANGE HEALTHCARE INC	$43,418,000	–	1,884,482	–	3.12%	–
ZNGA	New	ZYNGA INCcl a	$42,866,000	–	4,032,554	–	3.08%	–
BATRK	New	LIBERTY MEDIA CORP DEL	$42,301,000	–	1,523,270	–	3.04%	–
PRMW	New	PRIMO WATER CORPORATION	$41,857,000	–	2,501,923	–	3.01%	–
EPAY	New	BOTTOMLINE TECH DEL INC	$37,363,000	–	1,007,620	–	2.68%	–
MOS	New	MOSAIC CO NEW	$24,975,000	–	782,671	–	1.79%	–
OSPN	New	ONESPAN INC	$19,614,000	–	767,975	–	1.41%	–
CBOE	New	CBOE GLOBAL MKTS INC	$18,333,000	–	153,998	–	1.32%	–
TVTY	New	TIVITY HEALTH INC	$17,296,000	–	657,377	–	1.24%	–
HIMX	New	HIMAX TECHNOLOGIES INCcall	$13,328,000	–	800,000	–	0.96%	–
IPOF	New	SOCIAL CAPITAL HEDOSOPHA HLD	$8,117,000	–	795,800	–	0.58%	–
PLNT	New	PLANET FITNESS INCcl a	$5,914,000	–	78,587	–	0.42%	–
FTCH	New	FARFETCH LTDord sh cl a	$5,434,000	–	107,900	–	0.39%	–
IPOD	New	SOCIAL CAPITAL HEDOSOPHA HLD	$3,888,000	–	374,200	–	0.28%	–
CLI	New	MACK CALI RLTY CORP	$3,475,000	–	202,600	–	0.25%	–
ARD	New	ARDAGH GROUP S Acl a	$3,084,000	–	125,778	–	0.22%	–
RMR	New	RMR GROUP INCcl a	$2,525,000	–	65,354	–	0.18%	–
RCM	New	R1 RCM INC	$2,064,000	–	92,800	–	0.15%	–
GTX	New	GARRETT MOTION INC	$1,910,000	–	239,375	–	0.14%	–
GRSVU	New	GORES HLDGS V INCunit 99/99/9999	$1,589,000	–	150,000	–	0.11%	–
BATRA	New	LIBERTY MEDIA CORP DEL	$1,223,000	–	43,331	–	0.09%	–
IPOFWS	New	SOCIAL CAPITAL HEDOSOPHA HLD*w exp 09/26/202	$410,000	–	198,950	–	0.03%	–
ATIP	New	ATI PHYSICAL THERAPY INC	$332,000	–	34,800	–	0.02%	–
IPODWS	New	SOCIAL CAPITAL HEDOSOPHA HLD*w exp 09/26/202	$227,000	–	93,550	–	0.02%	–

Q4 2020

			Value		Shares		↓ Weighting
KAR	Exit	KAR AUCTION SVCS INC	$0	–	-49,500	–	-0.06%	–
IPOCWS	Exit	SOCIAL CAP HEDSPIA HLDG CO I*w exp 99/99/999	$0	–	-221,566	–	-0.07%	–
BATRA	Exit	LIBERTY MEDIA CORP DEL	$0	–	-43,331	–	-0.08%	–
LILAK	Exit	LIBERTY LATIN AMERICA LTD	$0	–	-195,600	–	-0.14%	–
FND	Exit	FLOOR & DECOR HLDGS INCcl a	$0	–	-33,500	–	-0.21%	–
	Exit	TEAM INCnote 5.000% 8/0	$0	–	-3,395,000	–	-0.24%	–
	Exit	ZILLOW GROUP INCnote 1.500% 7/0	$0	–	-2,000,000	–	-0.24%	–
CLDR	Exit	CLOUDERA INC	$0	–	-317,053	–	-0.29%	–
MGP	Exit	MGM GROWTH PPTYS LLC	$0	–	-137,588	–	-0.33%	–
GPK	Exit	GRAPHIC PACKAGING HLDG CO	$0	–	-322,900	–	-0.39%	–
RVI	Exit	RETAIL VALUE INC	$0	–	-401,430	–	-0.43%	–
CHDN	Exit	CHURCHILL DOWNS INC	$0	–	-32,800	–	-0.46%	–
SBGI	Exit	SINCLAIR BROADCAST GROUP INCcl a	$0	–	-365,437	–	-0.60%	–
ATEX	Exit	ANTERIX INC	$0	–	-237,457	–	-0.66%	–
JWS	Exit	JAWS ACQUISITION CORP	$0	–	-772,700	–	-0.69%	–
IPOC	Exit	SOCIAL CAP HEDSPIA HLDG CO I	$0	–	-664,700	–	-0.71%	–
SPNE	Exit	SEASPINE HLDGS CORP	$0	–	-696,824	–	-0.85%	–
OSPN	Exit	ONESPAN INC	$0	–	-547,870	–	-0.98%	–
Z	Exit	ZILLOW GROUP INCcl c cap stk	$0	–	-113,658	–	-0.98%	–
KBR	Exit	KBR INC	$0	–	-691,329	–	-1.32%	–
ACM	Exit	AECOM	$0	–	-526,800	–	-1.88%	–
RMR	Exit	RMR GROUP INCcl a	$0	–	-861,141	–	-2.02%	–
VRTU	Exit	VIRTUSA CORP	$0	–	-591,295	–	-2.48%	–
BATRK	Exit	LIBERTY MEDIA CORP DEL	$0	–	-1,465,553	–	-2.62%	–
USFD	Exit	US FOODS HLDG CORP	$0	–	-1,427,962	–	-2.70%	–
SERV	Exit	SERVICEMASTER GLOBAL HLDGS I	$0	–	-838,100	–	-2.85%	–
MIC	Exit	MACQUARIE INFRASTRUCTURE COR	$0	–	-1,311,647	–	-3.01%	–
AAN	Exit	AARONS INC	$0	–	-626,020	–	-3.02%	–
TWTR	Exit	TWITTER INC	$0	–	-859,429	–	-3.26%	–
ITGR	Exit	INTEGER HLDGS CORP	$0	–	-666,216	–	-3.35%	–
STAY	Exit	EXTENDED STAY AMER INCunit 99/99/9999b	$0	–	-3,325,927	–	-3.39%	–
APO	Exit	APOLLO GLOBAL MGMT INC	$0	–	-892,159	–	-3.40%	–
TLND	Exit	TALEND S Aads	$0	–	-1,056,104	–	-3.51%	–
MGLN	Exit	MAGELLAN HEALTH INC	$0	–	-557,989	–	-3.60%	–
SEE	Exit	SEALED AIR CORP NEW	$0	–	-1,124,133	–	-3.72%	–
CBOE	Exit	CBOE GLOBAL MARKETS INC	$0	–	-501,015	–	-3.75%	–
SMCI	Exit	SUPER MICRO COMPUTER INC	$0	–	-1,718,461	–	-3.87%	–
LAD	Exit	LITHIA MTRS INCcl a	$0	–	-200,600	–	-3.90%	–
FTDR	Exit	FRONTDOOR INC	$0	–	-1,286,797	–	-4.27%	–
SONO	Exit	SONOS INC	$0	–	-3,358,118	–	-4.34%	–
CHNG	Exit	CHANGE HEALTHCARE INC	$0	–	-4,560,997	–	-5.64%	–
UPWK	Exit	UPWORK INC	$0	–	-3,810,474	–	-5.66%	–
IWM	Exit	ISHARES TRput	$0	–	-1,100,000	–	-14.04%	–

Q3 2020

			Value		Shares		↓ Weighting
UPWK	Buy	UPWORK INC	$66,455,000	+34.3%	3,810,474	+11.2%	5.66%	+10.8%
CHNG	Sell	CHANGE HEALTHCARE INC	$66,180,000	+10.5%	4,560,997	-14.7%	5.64%	-8.8%
SONO	Buy	SONOS INC	$50,976,000	+46.1%	3,358,118	+40.8%	4.34%	+20.5%
FTDR	Buy	FRONTDOOR INC	$50,069,000	-9.5%	1,286,797	+3.1%	4.27%	-25.4%
SMCI	Buy	SUPER MICRO COMPUTER INC	$45,367,000	+25.9%	1,718,461	+35.4%	3.87%	+3.9%
CBOE	New	CBOE GLOBAL MARKETS INC	$43,959,000	–	501,015	–	3.75%	–
SEE	Sell	SEALED AIR CORP NEW	$43,628,000	+12.0%	1,124,133	-5.2%	3.72%	-7.6%
MGLN	Buy	MAGELLAN HEALTH INC	$42,284,000	+41.8%	557,989	+36.5%	3.60%	+17.0%
TLND	Sell	TALEND S Aads	$41,230,000	+12.0%	1,056,104	-0.6%	3.51%	-7.6%
STAY	Buy	EXTENDED STAY AMER INCunit 99/99/9999b	$39,745,000	+26.9%	3,325,927	+18.8%	3.39%	+4.7%
ITGR	New	INTEGER HLDGS CORP	$39,313,000	–	666,216	–	3.35%	–
TWTR	Sell	TWITTER INC	$38,245,000	+24.6%	859,429	-16.6%	3.26%	+2.8%
AAN	Sell	AARONS INC	$35,464,000	+8.8%	626,020	-12.8%	3.02%	-10.3%
MIC	Buy	MACQUARIE INFRASTRUCTURE COR	$35,270,000	-8.5%	1,311,647	+4.4%	3.01%	-24.5%
SERV	Buy	SERVICEMASTER GLOBAL HLDGS I	$33,423,000	+125.4%	838,100	+101.7%	2.85%	+85.9%
BATRK	Buy	LIBERTY MEDIA CORP DEL	$30,791,000	+28.1%	1,465,553	+20.4%	2.62%	+5.7%
VRTU	Sell	VIRTUSA CORP	$29,068,000	+13.6%	591,295	-25.0%	2.48%	-6.3%
ACM	Sell	AECOM	$22,041,000	+1.2%	526,800	-9.1%	1.88%	-16.6%
KBR	New	KBR INC	$15,458,000	–	691,329	–	1.32%	–
Z	Sell	ZILLOW GROUP INCcl c cap stk	$11,547,000	-7.7%	113,658	-47.7%	0.98%	-23.9%
OSPN	New	ONESPAN INC	$11,483,000	–	547,870	–	0.98%	–
IPOC	New	SOCIAL CAP HEDSPIA HLDG CO I	$8,282,000	–	664,700	–	0.71%	–
JWS	New	JAWS ACQUISITION CORP	$8,044,000	–	772,700	–	0.69%	–
SBGI	New	SINCLAIR BROADCAST GROUP INCcl a	$7,027,000	–	365,437	–	0.60%	–
CHDN	Sell	CHURCHILL DOWNS INC	$5,373,000	-43.6%	32,800	-54.2%	0.46%	-53.5%
MGP	Sell	MGM GROWTH PPTYS LLC	$3,850,000	-45.7%	137,588	-47.2%	0.33%	-55.2%
FND	New	FLOOR & DECOR HLDGS INCcl a	$2,506,000	–	33,500	–	0.21%	–
LILAK	New	LIBERTY LATIN AMERICA LTD	$1,592,000	–	195,600	–	0.14%	–
IPOCWS	New	SOCIAL CAP HEDSPIA HLDG CO I*w exp 99/99/999	$855,000	–	221,566	–	0.07%	–
KAR	New	KAR AUCTION SVCS INC	$713,000	–	49,500	–	0.06%	–
XERS	Exit	XERIS PHARMACEUTICALS INC	$0	–	-24,000	–	-0.01%	–
FRG	Exit	FRANCHISE GROUP INC	$0	–	-40,900	–	-0.09%	–
	Exit	ZILLOW GROUP INCnote 2.000%12/0	$0	–	-2,000,000	–	-0.26%	–
	Exit	MACQUARIE INFRASTRUCTURE CORnote 2.000%10/0	$0	–	-8,000,000	–	-0.72%	–
HII	Exit	HUNTINGTON INGALLS INDS INC	$0	–	-40,847	–	-0.74%	–
IPOCU	Exit	SOCIAL CAP HEDSPIA HLDG CO Iunit 99/99/9999	$0	–	-664,700	–	-0.82%	–
IPOBU	Exit	SOCIAL CAP HDOSPHIA HLDG COunit 99/99/9999	$0	–	-649,600	–	-0.84%	–
GTX	Exit	GARRETT MOTION INC	$0	–	-1,813,363	–	-1.04%	–
IBP	Exit	INSTALLED BLDG PRODS INC	$0	–	-171,794	–	-1.22%	–

Q2 2020

			Value		Shares		↓ Weighting
IWM	New	ISHARES TRput	$157,498,000	–	1,100,000	–	16.27%	–
CHNG	New	CHANGE HEALTHCARE INC	$59,891,000	–	5,347,433	–	6.19%	–
FTDR	New	FRONTDOOR INC	$55,350,000	–	1,248,597	–	5.72%	–
UPWK	New	UPWORK INC	$49,491,000	–	3,427,374	–	5.11%	–
APO	New	APOLLO GLOBAL MGMT INC	$44,537,000	–	892,159	–	4.60%	–
SEE	New	SEALED AIR CORP NEW	$38,951,000	–	1,185,733	–	4.02%	–
MIC	New	MACQUARIE INFRASTRUCTURE COR	$38,562,000	–	1,256,513	–	3.98%	–
TLND	New	TALEND S Aads	$36,816,000	–	1,062,204	–	3.80%	–
SMCI	New	SUPER MICRO COMPUTER INC	$36,028,000	–	1,269,050	–	3.72%	–
SONO	New	SONOS INC	$34,901,000	–	2,385,557	–	3.61%	–
AAN	New	AARONS INC	$32,603,000	–	718,120	–	3.37%	–
STAY	New	EXTENDED STAY AMER INCunit 99/99/9999b	$31,318,000	–	2,798,727	–	3.24%	–
TWTR	New	TWITTER INC	$30,685,000	–	1,030,029	–	3.17%	–
LAD	New	LITHIA MTRS INCcl a	$30,357,000	–	200,600	–	3.14%	–
MGLN	New	MAGELLAN HEALTH INC	$29,822,000	–	408,635	–	3.08%	–
USFD	New	US FOODS HLDG CORP	$28,159,000	–	1,427,962	–	2.91%	–
VRTU	New	VIRTUSA CORP	$25,593,000	–	788,203	–	2.64%	–
RMR	New	RMR GROUP INCcl a	$25,378,000	–	861,141	–	2.62%	–
BATRK	New	LIBERTY MEDIA CORP DEL	$24,031,000	–	1,217,395	–	2.48%	–
ACM	New	AECOM	$21,785,000	–	579,700	–	2.25%	–
SERV	New	SERVICEMASTER GLOBAL HLDGS I	$14,829,000	–	415,500	–	1.53%	–
Z	New	ZILLOW GROUP INCcl c cap stk	$12,516,000	–	217,258	–	1.29%	–
IBP	New	INSTALLED BLDG PRODS INC	$11,816,000	–	171,794	–	1.22%	–
ATEX	New	ANTERIX INC	$10,766,000	–	237,457	–	1.11%	–
GTX	New	GARRETT MOTION INC	$10,046,000	–	1,813,363	–	1.04%	–
CHDN	New	CHURCHILL DOWNS INC	$9,534,000	–	71,600	–	0.98%	–
IPOBU	New	SOCIAL CAP HDOSPHIA HLDG COunit 99/99/9999	$8,159,000	–	649,600	–	0.84%	–
IPOCU	New	SOCIAL CAP HEDSPIA HLDG CO Iunit 99/99/9999	$7,890,000	–	664,700	–	0.82%	–
SPNE	New	SEASPINE HLDGS CORP	$7,296,000	–	696,824	–	0.75%	–
HII	New	HUNTINGTON INGALLS INDS INC	$7,127,000	–	40,847	–	0.74%	–
MGP	New	MGM GROWTH PPTYS LLC	$7,088,000	–	260,480	–	0.73%	–
	New	MACQUARIE INFRASTRUCTURE CORnote 2.000%10/0	$6,919,000	–	8,000,000	–	0.72%	–
RVI	New	RETAIL VALUE INC	$4,962,000	–	401,430	–	0.51%	–
GPK	New	GRAPHIC PACKAGING HLDG CO	$4,517,000	–	322,900	–	0.47%	–
CLDR	New	CLOUDERA INC	$4,033,000	–	317,053	–	0.42%	–
	New	ZILLOW GROUP INCnote 2.000%12/0	$2,472,000	–	2,000,000	–	0.26%	–
	New	TEAM INCnote 5.000% 8/0	$2,337,000	–	3,395,000	–	0.24%	–
	New	ZILLOW GROUP INCnote 1.500% 7/0	$2,078,000	–	2,000,000	–	0.22%	–
FRG	New	FRANCHISE GROUP INC	$895,000	–	40,900	–	0.09%	–
BATRA	New	LIBERTY MEDIA CORP DEL	$870,000	–	43,331	–	0.09%	–
XERS	New	XERIS PHARMACEUTICALS INC	$64,000	–	24,000	–	0.01%	–

Q4 2019

			Value		Shares		↓ Weighting
NTP	Exit	NAM TAI PPTY INC	$0	–	-129,730	–	-0.23%	–
RVLV	Exit	REVOLVE GROUP INCcl a	$0	–	-56,700	–	-0.27%	–
UPWK	Exit	UPWORK INC	$0	–	-108,100	–	-0.29%	–
TRWH	Exit	TWIN RIV WORLDWIDE HLDGS INC	$0	–	-65,582	–	-0.30%	–
WORK	Exit	SLACK TECHNOLOGIES INC	$0	–	-68,263	–	-0.32%	–
GPORQ	Exit	GULFPORT ENERGY CORP	$0	–	-618,900	–	-0.34%	–
	Exit	ZILLOW GROUP INCnote 1.500% 7/0	$0	–	-2,000,000	–	-0.35%	–
	Exit	ZILLOW GROUP INCnote 2.000% 12/0	$0	–	-2,000,000	–	-0.40%	–
BCOV	Exit	BRIGHTCOVE INC	$0	–	-200,000	–	-0.42%	–
INSW	Exit	INTERNATIONAL SEAWAYS INC	$0	–	-115,989	–	-0.45%	–
TISI	Exit	TEAM INC	$0	–	-178,888	–	-0.65%	–
	Exit	TEAM INCnote 5.000% 8/0	$0	–	-3,500,000	–	-0.78%	–
CNR	Exit	CORNERSTONE BLDG BRANDS INC	$0	–	-687,414	–	-0.83%	–
MTW	Exit	MANITOWOC CO INC	$0	–	-367,295	–	-0.92%	–
SPNE	Exit	SEASPINE HLDGS CORP	$0	–	-546,824	–	-1.34%	–
MCRN	Exit	MILACRON HLDGS CORP	$0	–	-405,397	–	-1.36%	–
AGX	Exit	ARGAN INC	$0	–	-178,145	–	-1.40%	–
LPX	Exit	LOUISIANA PAC CORP	$0	–	-309,877	–	-1.53%	–
SPB	Exit	SPECTRUM BRANDS HLDGS INC NE	$0	–	-175,000	–	-1.85%	–
PINS	Exit	PINTEREST INCcl a	$0	–	-354,700	–	-1.88%	–
ATEX	Exit	ANTERIX INC	$0	–	-280,232	–	-2.03%	–
Z	Exit	ZILLOW GROUP INCcl c cap stk	$0	–	-354,458	–	-2.12%	–
CSTE	Exit	CAESARSTONE LTD	$0	–	-676,099	–	-2.25%	–
ANIP	Exit	ANI PHARMACEUTICALS INC	$0	–	-154,961	–	-2.26%	–
HGV	Exit	HILTON GRAND VACATIONS INC	$0	–	-393,240	–	-2.52%	–
CLS	Exit	CELESTICA INC	$0	–	-1,783,363	–	-2.56%	–
RVI	Exit	RETAIL VALUE INC	$0	–	-386,243	–	-2.87%	–
SEE	Exit	SEALED AIR CORP NEW	$0	–	-423,247	–	-3.52%	–
VRTU	Exit	VIRTUSA CORP	$0	–	-492,100	–	-3.55%	–
SYNH	Exit	SYNEOS HEALTH INCcl a	$0	–	-381,191	–	-4.06%	–
BLD	Exit	TOPBUILD CORP	$0	–	-221,900	–	-4.29%	–
WK	Exit	WORKIVA INC	$0	–	-558,363	–	-4.90%	–
ETSY	Exit	ETSY INC	$0	–	-460,389	–	-5.21%	–
SONO	Exit	SONOS INC	$0	–	-1,966,285	–	-5.28%	–
STAY	Exit	EXTENDED STAY AMER INCunit 99/99/9999b	$0	–	-1,821,090	–	-5.34%	–
MIC	Exit	MACQUARIE INFRASTRUCTURE COR	$0	–	-798,382	–	-6.32%	–
RMR	Exit	RMR GROUP INCcl a	$0	–	-742,500	–	-6.77%	–
FTDR	Exit	FRONTDOOR INC	$0	–	-851,655	–	-8.29%	–
MSTR	Exit	MICROSTRATEGY INCcl a new	$0	–	-334,046	–	-9.93%	–

Q3 2019

			Value		Shares		↓ Weighting
MSTR	Buy	MICROSTRATEGY INCcl a new	$49,562,000	+15.1%	334,046	+11.2%	9.93%	+24.5%
RMR	Buy	RMR GROUP INCcl a	$33,769,000	+0.6%	742,500	+4.0%	6.77%	+8.8%
MIC	New	MACQUARIE INFRASTRUCTURE COR	$31,512,000	–	798,382	–	6.32%	–
STAY	Buy	EXTENDED STAY AMER INCunit 99/99/9999b	$26,661,000	+45.1%	1,821,090	+67.4%	5.34%	+56.9%
SONO	Buy	SONOS INC	$26,368,000	+81.7%	1,966,285	+53.7%	5.28%	+96.5%
VRTU	New	VIRTUSA CORP	$17,725,000	–	492,100	–	3.55%	–
SEE	Buy	SEALED AIR CORP NEW	$17,569,000	+2.3%	423,247	+5.5%	3.52%	+10.7%
RVI	Buy	RETAIL VALUE INC	$14,306,000	+10.0%	386,243	+3.3%	2.87%	+18.9%
CLS	Buy	CELESTICA INC	$12,787,000	+8.9%	1,783,363	+3.7%	2.56%	+17.7%
HGV	Sell	HILTON GRAND VACATIONS INC	$12,584,000	-43.2%	393,240	-43.5%	2.52%	-38.6%
ANIP	Buy	ANI PHARMACEUTICALS INC	$11,294,000	+11.2%	154,961	+25.4%	2.26%	+20.2%
CSTE	Sell	CAESARSTONE LTD	$11,230,000	-20.4%	676,099	-27.9%	2.25%	-13.9%
Z	Buy	ZILLOW GROUP INCcl c cap stk	$10,570,000	-20.0%	354,458	+24.5%	2.12%	-13.4%
ATEX	New	ANTERIX INC	$10,144,000	–	280,232	–	2.03%	–
PINS	New	PINTEREST INCcl a	$9,382,000	–	354,700	–	1.88%	–
LPX	Sell	LOUISIANA PAC CORP	$7,617,000	-54.5%	309,877	-51.4%	1.53%	-50.8%
AGX	Sell	ARGAN INC	$6,999,000	-35.4%	178,145	-33.3%	1.40%	-30.1%
MCRN	Sell	MILACRON HLDGS CORP	$6,758,000	-47.9%	405,397	-56.8%	1.36%	-43.6%
MTW	Sell	MANITOWOC CO INC	$4,591,000	-52.8%	367,295	-32.8%	0.92%	-49.0%
CNR	New	CORNERSTONE BLDG BRANDS INC	$4,159,000	–	687,414	–	0.83%	–
INSW	New	INTERNATIONAL SEAWAYS INC	$2,234,000	–	115,989	–	0.45%	–
BCOV	Sell	BRIGHTCOVE INC	$2,096,000	-83.8%	200,000	-84.0%	0.42%	-82.5%
GPORQ	Buy	GULFPORT ENERGY CORP	$1,677,000	-35.1%	618,900	+17.5%	0.34%	-29.9%
TRWH	New	TWIN RIV WORLDWIDE HLDGS INC	$1,497,000	–	65,582	–	0.30%	–
UPWK	New	UPWORK INC	$1,438,000	–	108,100	–	0.29%	–
RVLV	New	REVOLVE GROUP INCcl a	$1,325,000	–	56,700	–	0.27%	–
NTP	Buy	NAM TAI PPTY INC	$1,168,000	+164.3%	129,730	+186.4%	0.23%	+185.4%
CHWY	Exit	CHEWY INCcl a	$0	–	-10,000	–	-0.06%	–
SMTA	Exit	SPIRIT MTA REIT	$0	–	-674,866	–	-1.04%	–
COMM	Exit	COMMSCOPE HLDG CO INC	$0	–	-443,400	–	-1.29%	–
XPER	Exit	XPERI CORP	$0	–	-358,763	–	-1.37%	–
OEC	Exit	ORION ENGINEERED CARBONS S A	$0	–	-455,882	–	-1.81%	–
CASH	Exit	META FINL GROUP INC	$0	–	-357,728	–	-1.86%	–
CLDR	Exit	CLOUDERA INC	$0	–	-2,298,855	–	-2.24%	–
GTX	Exit	GARRETT MOTION INC	$0	–	-1,134,580	–	-3.23%	–
	Exit	DIODES INC	$0	–	-750,000	–	-5.06%	–

Q2 2019

			Value		Shares		↓ Weighting
MSTR	New	MICROSTRATEGY INCcl a new	$43,049,000	–	300,393	–	7.98%	–
FTDR	New	FRONTDOOR INC	$37,090,000	–	851,655	–	6.88%	–
RMR	New	RMR GROUP INCcl a	$33,553,000	–	714,200	–	6.22%	–
WK	New	WORKIVA INC	$32,435,000	–	558,363	–	6.01%	–
ETSY	New	ETSY INC	$28,254,000	–	460,389	–	5.24%	–
	New	DIODES INC	$27,278,000	–	750,000	–	5.06%	–
HGV	New	HILTON GRAND VACATIONS INC	$22,153,000	–	696,200	–	4.11%	–
SYNH	New	SYNEOS HEALTH INCcl a	$19,475,000	–	381,191	–	3.61%	–
STAY	New	EXTENDED STAY AMER INCunit 99/99/9999b	$18,369,000	–	1,087,583	–	3.40%	–
BLD	New	TOPBUILD CORP	$18,364,000	–	221,900	–	3.40%	–
GTX	New	GARRETT MOTION INC	$17,416,000	–	1,134,580	–	3.23%	–
SEE	New	SEALED AIR CORP NEW	$17,170,000	–	401,347	–	3.18%	–
LPX	New	LOUISIANA PAC CORP	$16,729,000	–	638,037	–	3.10%	–
SONO	New	SONOS INC	$14,511,000	–	1,279,671	–	2.69%	–
CSTE	New	CAESARSTONE LTD	$14,104,000	–	938,370	–	2.61%	–
Z	New	ZILLOW GROUP INCcl c cap stk	$13,205,000	–	284,658	–	2.45%	–
RVI	New	RETAIL VALUE INC	$13,006,000	–	373,743	–	2.41%	–
MCRN	New	MILACRON HLDGS CORP	$12,965,000	–	939,496	–	2.40%	–
BCOV	New	BRIGHTCOVE INC	$12,953,000	–	1,253,912	–	2.40%	–
CLDR	New	CLOUDERA INC	$12,092,000	–	2,298,855	–	2.24%	–
CLS	New	CELESTICA INC	$11,744,000	–	1,719,438	–	2.18%	–
AGX	New	ARGAN INC	$10,827,000	–	266,943	–	2.01%	–
ANIP	New	ANI PHARMACEUTICALS INC	$10,157,000	–	123,561	–	1.88%	–
CASH	New	META FINL GROUP INC	$10,034,000	–	357,728	–	1.86%	–
OEC	New	ORION ENGINEERED CARBONS S A	$9,760,000	–	455,882	–	1.81%	–
MTW	New	MANITOWOC CO INC	$9,728,000	–	546,508	–	1.80%	–
SPB	New	SPECTRUM BRANDS HLDG INC NE	$9,410,000	–	175,000	–	1.74%	–
XPER	New	XPERI CORP	$7,387,000	–	358,763	–	1.37%	–
SPNE	New	SEASPINE HLDGS CORP	$7,245,000	–	546,824	–	1.34%	–
COMM	New	COMMSCOPE HLDG CO INC	$6,975,000	–	443,400	–	1.29%	–
SMTA	New	SPIRIT MTA REIT	$5,628,000	–	674,866	–	1.04%	–
	New	TEAM INCnote 5.000%8/0	$3,558,000	–	3,500,000	–	0.66%	–
TISI	New	TEAM INC	$2,741,000	–	178,888	–	0.51%	–
GPORQ	New	GULFPORT ENERGY CORP	$2,585,000	–	526,500	–	0.48%	–
WORK	New	SLACK TECHNOLOGIES INC	$2,560,000	–	68,263	–	0.47%	–
	New	ZILLOW GROUP INCnote 2.000%12/0	$2,263,000	–	2,000,000	–	0.42%	–
	New	ZILLOW GROUP INCnote 1.500%7/0	$1,963,000	–	2,000,000	–	0.36%	–
NTP	New	NAM TAI PPTY INC	$442,000	–	45,300	–	0.08%	–
CHWY	New	CHEWY INCcl a	$350,000	–	10,000	–	0.06%	–

Q4 2018

			Value		Shares		↓ Weighting
TPIC	Exit	TPI COMPOSITES INC	$0	–	-34,385	–	-0.22%	–
PRMW	Exit	PRIMO WTR CORP	$0	–	-91,851	–	-0.36%	–
LE	Exit	LANDS END INC NEW	$0	–	-95,200	–	-0.37%	–
CPLG	Exit	COREPOINT LODGING INC	$0	–	-88,800	–	-0.38%	–
PDFS	Exit	PDF SOLUTIONS INC	$0	–	-220,497	–	-0.44%	–
XPER	Exit	XPERI CORP	$0	–	-142,991	–	-0.47%	–
SKY	Exit	SKYLINE CHAMPION CORPORATION	$0	–	-81,900	–	-0.52%	–
GPORQ	Exit	GULFPORT ENERGY CORP	$0	–	-326,600	–	-0.75%	–
TISI	Exit	TEAM INC	$0	–	-170,088	–	-0.84%	–
WOW	Exit	WIDEOPENWEST INC	$0	–	-366,280	–	-0.90%	–
MIK	Exit	MICHAELS COS INC	$0	–	-300,200	–	-1.07%	–
MOBL	Exit	MOBILEIRON INC	$0	–	-954,799	–	-1.11%	–
DAR	Exit	DARLING INGREDIENTS INC	$0	–	-268,877	–	-1.14%	–
CASH	Exit	META FINL GROUP INC	$0	–	-68,101	–	-1.24%	–
VNDA	Exit	VANDA PHARMACEUTICALS INC	$0	–	-258,877	–	-1.31%	–
SPNE	Exit	SEASPINE HLDGS CORP	$0	–	-429,024	–	-1.47%	–
GDEN	Exit	GOLDEN ENTMT INC	$0	–	-300,335	–	-1.59%	–
SMTA	Exit	SPIRIT MTA REIT	$0	–	-638,197	–	-1.62%	–
ENSG	Exit	ENSIGN GROUP INC	$0	–	-204,390	–	-1.70%	–
FN	Exit	FABRINET	$0	–	-175,641	–	-1.79%	–
RMR	Exit	RMR GROUP INCcl a	$0	–	-89,938	–	-1.84%	–
TRUE	Exit	TRUECAR INC	$0	–	-605,931	–	-1.88%	–
COMM	Exit	COMMSCOPE HLDG CO INC	$0	–	-300,900	–	-2.04%	–
GTX	Exit	GARRETT MOTION INC	$0	–	-503,110	–	-2.05%	–
RVI	Exit	RETAIL VALUE INC	$0	–	-286,924	–	-2.06%	–
MCRN	Exit	MILACRON HLDGS CORP	$0	–	-468,189	–	-2.08%	–
MTW	Exit	MANITOWOC CO INC	$0	–	-465,168	–	-2.45%	–
NSIT	Exit	INSIGHT ENTERPRISES INC	$0	–	-208,984	–	-2.49%	–
MSTR	Exit	MICROSTRATEGY INCcl a new	$0	–	-80,992	–	-2.50%	–
SEE	Exit	SEALED AIR CORP NEW	$0	–	-285,100	–	-2.52%	–
ONDK	Exit	ON DECK CAP INC	$0	–	-1,696,248	–	-2.82%	–
ELVT	Exit	ELEVATE CREDIT INC	$0	–	-1,738,708	–	-3.08%	–
BCOV	Exit	BRIGHTCOVE INC	$0	–	-1,724,197	–	-3.18%	–
STAY	Exit	EXTENDED STAY AMER INCunit 99/99/9999b	$0	–	-745,332	–	-3.32%	–
OEC	Exit	ORION ENGINEERED CARBONS S A	$0	–	-480,788	–	-3.39%	–
SPB	Exit	SPECTRUM BRANDS HLDGS INC NE	$0	–	-272,510	–	-4.48%	–
WK	Exit	WORKIVA INC	$0	–	-558,363	–	-4.85%	–
LXFT	Exit	LUXOFT HLDG INC	$0	–	-468,182	–	-4.88%	–
AGX	Exit	ARGAN INC	$0	–	-541,643	–	-5.12%	–
SFLY	Exit	SHUTTERFLY INC	$0	–	-356,470	–	-5.16%	–
ETSY	Exit	ETSY INC	$0	–	-460,389	–	-5.20%	–
SYNH	Exit	SYNEOS HEALTH INCcl a	$0	–	-477,300	–	-5.41%	–
CLS	Exit	CELESTICA INC	$0	–	-3,327,194	–	-7.92%	–

Q3 2018

			Value		Shares		↓ Weighting
CLS	Buy	CELESTICA INC	$36,034,000	-0.7%	3,327,194	+8.8%	7.92%	-5.8%
SYNH	Buy	SYNEOS HEALTH INCcl a	$24,605,000	+86.2%	477,300	+69.4%	5.41%	+76.8%
ETSY	Sell	ETSY INC	$23,655,000	-15.6%	460,389	-30.7%	5.20%	-19.9%
SFLY	Buy	SHUTTERFLY INC	$23,488,000	+96.0%	356,470	+167.8%	5.16%	+86.1%
AGX	Buy	ARGAN INC	$23,291,000	+40.0%	541,643	+33.3%	5.12%	+32.9%
LXFT	Buy	LUXOFT HLDG INC	$22,168,000	+52.7%	468,182	+18.8%	4.88%	+44.9%
WK	Buy	WORKIVA INC	$22,055,000	+69.2%	558,363	+4.5%	4.85%	+60.6%
SPB	New	SPECTRUM BRANDS HLDGS INC NE	$20,362,000	–	272,510	–	4.48%	–
OEC	Buy	ORION ENGINEERED CARBONS S A	$15,433,000	+24.5%	480,788	+19.6%	3.39%	+18.2%
STAY	Buy	EXTENDED STAY AMER INCunit 99/99/9999b	$15,078,000	+19.6%	745,332	+27.8%	3.32%	+13.6%
ELVT	Sell	ELEVATE CREDIT INC	$14,014,000	-10.0%	1,738,708	-5.5%	3.08%	-14.6%
ONDK	Buy	ON DECK CAP INC	$12,841,000	+14.7%	1,696,248	+6.1%	2.82%	+9.0%
SEE	New	SEALED AIR CORP NEW	$11,447,000	–	285,100	–	2.52%	–
NSIT	Sell	INSIGHT ENTERPRISES INC	$11,304,000	-6.3%	208,984	-15.2%	2.49%	-11.0%
MTW	New	MANITOWOC CO INC	$11,159,000	–	465,168	–	2.45%	–
MCRN	Sell	MILACRON HLDGS CORP	$9,481,000	-5.0%	468,189	-11.2%	2.08%	-9.8%
RVI	New	RETAIL VALUE INC	$9,380,000	–	286,924	–	2.06%	–
GTX	New	GARRETT MOTION INC	$9,308,000	–	503,110	–	2.05%	–
COMM	Buy	COMMSCOPE HLDG CO INC	$9,256,000	+928.4%	300,900	+876.9%	2.04%	+878.4%
RMR	Sell	RMR GROUP INCcl a	$8,346,000	-1.4%	89,938	-16.6%	1.84%	-6.4%
FN	Sell	FABRINET	$8,125,000	-23.1%	175,641	-38.7%	1.79%	-27.0%
ENSG	Sell	ENSIGN GROUP INC	$7,750,000	-35.6%	204,390	-39.2%	1.70%	-38.9%
SMTA	Buy	SPIRIT MTA REIT	$7,352,000	+807.7%	638,197	+711.7%	1.62%	+760.1%
GDEN	New	GOLDEN ENTMT INC	$7,211,000	–	300,335	–	1.59%	–
SPNE	Buy	SEASPINE HLDGS CORP	$6,676,000	+26.7%	429,024	+2.8%	1.47%	+20.3%
CASH	Buy	META FINL GROUP INC	$5,629,000	+143.9%	68,101	+187.3%	1.24%	+131.4%
DAR	New	DARLING INGREDIENTS INC	$5,195,000	–	268,877	–	1.14%	–
MIK	Sell	MICHAELS COS INC	$4,872,000	-39.8%	300,200	-28.8%	1.07%	-42.8%
WOW	Sell	WIDEOPENWEST INC	$4,106,000	-53.5%	366,280	-59.9%	0.90%	-55.8%
TISI	Sell	TEAM INC	$3,827,000	-46.4%	170,088	-45.0%	0.84%	-49.1%
SKY	New	SKYLINE CHAMPION CORPORATION	$2,340,000	–	81,900	–	0.52%	–
XPER	New	XPERI CORP	$2,123,000	–	142,991	–	0.47%	–
PDFS	Sell	PDF SOLUTIONS INC	$1,991,000	-75.6%	220,497	-67.6%	0.44%	-76.8%
CPLG	New	COREPOINT LODGING INC	$1,727,000	–	88,800	–	0.38%	–
TPIC	New	TPI COMPOSITES INC	$982,000	–	34,385	–	0.22%	–
HIIQ	Exit	HEALTH INS INNOVATIONS INC	$0	–	-13,174	–	-0.10%	–
HRB	Exit	BLOCK H & R INC	$0	–	-26,500	–	-0.14%	–
WBC	Exit	WABCO HLDGS INC	$0	–	-7,600	–	-0.21%	–
ARD	Exit	ARDAGH GROUP S Acl a	$0	–	-101,600	–	-0.39%	–
CURO	Exit	CURO GROUP HLDGS CORP	$0	–	-79,186	–	-0.46%	–
ENVA	Exit	ENOVA INTL INC	$0	–	-67,750	–	-0.57%	–
SERV	Exit	SERVICEMASTER GLOBAL HLDGS I	$0	–	-50,000	–	-0.69%	–
NPO	Exit	ENPRO INDS INC	$0	–	-46,428	–	-0.75%	–
HIL	Exit	HILL INTERNATIONAL INC	$0	–	-612,500	–	-0.84%	–
CORE	Exit	CORE MARK HOLDINGS CO INC	$0	–	-161,600	–	-0.85%	–
FCEA	Exit	FOREST CITY RLTY TR INC	$0	–	-286,700	–	-1.52%	–
CCRN	Exit	CROSS CTRY HEALTHCARE INC	$0	–	-661,182	–	-1.72%	–
THRM	Exit	GENTHERM INC	$0	–	-190,464	–	-1.73%	–
FWRD	Exit	FORWARD AIR CORP	$0	–	-128,152	–	-1.75%	–
PCG	Exit	PG&E CORP	$0	–	-302,800	–	-2.98%	–
SPB	Exit	SPECTRUM BRANDS HLDGS INC	$0	–	-186,410	–	-3.52%	–
	Exit	TESLA INCput	$0	–	-65,000	–	-5.16%	–

Q2 2018

			Value		Shares		↓ Weighting
CLS	New	CELESTICA INC	$36,305,000	–	3,058,524	–	8.41%	–
ETSY	New	ETSY INC	$28,035,000	–	664,489	–	6.49%	–
	New	TESLA INCput	$22,292,000	–	65,000	–	5.16%	–
BCOV	New	BRIGHTCOVE INC	$16,639,000	–	1,724,197	–	3.85%	–
AGX	New	ARGAN INC	$16,641,000	–	406,370	–	3.85%	–
ELVT	New	ELEVATE CREDIT INC	$15,574,000	–	1,840,865	–	3.61%	–
SPB	New	SPECTRUM BRANDS HLDGS INC	$15,215,000	–	186,410	–	3.52%	–
LXFT	New	LUXOFT HLDG INC	$14,522,000	–	394,082	–	3.36%	–
SYNH	New	SYNEOS HEALTH INCcl a	$13,216,000	–	281,800	–	3.06%	–
WK	New	WORKIVA INC	$13,038,000	–	534,363	–	3.02%	–
PCG	New	PG&E CORP	$12,887,000	–	302,800	–	2.98%	–
STAY	New	EXTENDED STAY AMERICA INCunit 99/99/9999b	$12,605,000	–	583,283	–	2.92%	–
OEC	New	ORION ENGINEERED CARBONS S A	$12,400,000	–	401,939	–	2.87%	–
NSIT	New	INSIGHT ENTERPRISES INC	$12,065,000	–	246,584	–	2.79%	–
ENSG	New	ENSIGN GROUP INC	$12,033,000	–	335,930	–	2.79%	–
SFLY	New	SHUTTERFLY INC	$11,983,000	–	133,100	–	2.78%	–
ONDK	New	ON DECK CAP INC	$11,192,000	–	1,598,801	–	2.59%	–
FN	New	FABRINET	$10,563,000	–	286,341	–	2.45%	–
MSTR	New	MICROSTRATEGY INCcl a new	$10,347,000	–	80,992	–	2.40%	–
MCRN	New	MILACRON HLDGS CORP	$9,978,000	–	527,089	–	2.31%	–
WOW	New	WIDEOPENWEST INC	$8,826,000	–	913,661	–	2.04%	–
RMR	New	RMR GROUP INCcl a	$8,461,000	–	107,851	–	1.96%	–
PDFS	New	PDF SOLUTIONS INC	$8,157,000	–	680,888	–	1.89%	–
MIK	New	MICHAELS COS INC	$8,088,000	–	421,900	–	1.87%	–
FWRD	New	FORWARD AIR CORP	$7,571,000	–	128,152	–	1.75%	–
THRM	New	GENTHERM INC	$7,485,000	–	190,464	–	1.73%	–
CCRN	New	CROSS CTRY HEALTHCARE INC	$7,438,000	–	661,182	–	1.72%	–
TISI	New	TEAM INC	$7,140,000	–	309,091	–	1.65%	–
FCEA	New	FOREST CITY RLTY TR INC	$6,540,000	–	286,700	–	1.52%	–
TRUE	New	TRUECAR INC	$6,114,000	–	605,931	–	1.42%	–
SPNE	New	SEASPINE HLDGS CORP	$5,269,000	–	417,524	–	1.22%	–
VNDA	New	VANDA PHARMACEUTICALS INC	$4,932,000	–	258,877	–	1.14%	–
MOBL	New	MOBILEIRON INC	$4,249,000	–	954,799	–	0.98%	–
GPORQ	New	GULFPORT ENERGY CORP	$4,105,000	–	326,600	–	0.95%	–
CORE	New	CORE MARK HOLDINGS CO INC	$3,668,000	–	161,600	–	0.85%	–
HIL	New	HILL INTERNATIONAL INC	$3,614,000	–	612,500	–	0.84%	–
NPO	New	ENPRO INDS INC	$3,248,000	–	46,428	–	0.75%	–
SERV	New	SERVICEMASTER GLOBAL HLDGS I	$2,974,000	–	50,000	–	0.69%	–
LE	New	LANDS END INC NEW	$2,656,000	–	95,200	–	0.62%	–
ENVA	New	ENOVA INTL INC	$2,476,000	–	67,750	–	0.57%	–
CASH	New	META FINL GROUP INC	$2,308,000	–	23,701	–	0.54%	–
CURO	New	CURO GROUP HLDGS CORP	$1,976,000	–	79,186	–	0.46%	–
ARD	New	ARDAGH GROUP S Acl a	$1,689,000	–	101,600	–	0.39%	–
PRMW	New	PRIMO WTR CORP	$1,606,000	–	91,851	–	0.37%	–
COMM	New	COMMSCOPE HLDG CO INC	$900,000	–	30,800	–	0.21%	–
WBC	New	WABCO HLDGS INC	$889,000	–	7,600	–	0.21%	–
SMTA	New	SPIRIT MTA REIT	$810,000	–	78,628	–	0.19%	–
HRB	New	BLOCK H & R INC	$604,000	–	26,500	–	0.14%	–
HIIQ	New	HEALTH INS INNOVATIONS INC	$426,000	–	13,174	–	0.10%	–

Q4 2017

			Value		Shares		↓ Weighting
FOGO	Exit	FOGO DE CHAO INC	$0	–	-56,563	–	-0.26%	–
PHIIQ	Exit	PHI INC	$0	–	-61,818	–	-0.28%	–
P	Exit	PANDORA MEDIA INC	$0	–	-125,000	–	-0.36%	–
LE	Exit	LANDS END INC NEW	$0	–	-95,200	–	-0.47%	–
NCMI	Exit	NATIONAL CINEMEDIA INC	$0	–	-303,600	–	-0.80%	–
TBBK	Exit	BANCORP INC DEL	$0	–	-258,451	–	-0.80%	–
FRGI	Exit	FIESTA RESTAURANT GROUP INC	$0	–	-126,500	–	-0.90%	–
FBM	Exit	FOUNDATION BLDG MATLS INC	$0	–	-180,000	–	-0.96%	–
PNK	Exit	PINNACLE ENTMT INC NEW	$0	–	-124,101	–	-0.99%	–
TISI	Exit	TEAM INC	$0	–	-207,400	–	-1.04%	–
CSTE	Exit	CAESARSTONE LTD	$0	–	-117,500	–	-1.32%	–
APTI	Exit	APPTIO INCcl a	$0	–	-203,243	–	-1.41%	–
GOLF	Exit	ACUSHNET HOLDINGS CORP	$0	–	-215,078	–	-1.44%	–
CHUBK	Exit	COMMERCEHUB INC	$0	–	-195,718	–	-1.57%	–
SERV	Exit	SERVICEMATER GLOBAL HLDGS I	$0	–	-95,800	–	-1.68%	–
VRTV	Exit	VERITIV CORP	$0	–	-142,941	–	-1.75%	–
SPNE	Exit	SEASPINE HLDGS CORP	$0	–	-417,524	–	-1.76%	–
MCK	Exit	MCKESSON CORP	$0	–	-37,045	–	-2.14%	–
SONS	Exit	SONUS NETWORKS INC	$0	–	-758,488	–	-2.18%	–
CCRN	Exit	CROSS CTRY HEALTHCARE INC	$0	–	-434,082	–	-2.32%	–
THRM	Exit	GENTHERM INC	$0	–	-177,265	–	-2.47%	–
MCRN	Exit	MILACRON HLDGS CORP	$0	–	-422,215	–	-2.68%	–
AVT	Exit	AVNET INC	$0	–	-182,200	–	-2.69%	–
LORL	Exit	LORAL SPACE & COMMUNICATNS I	$0	–	-151,327	–	-2.82%	–
MIK	Exit	MICHAELS COS INC	$0	–	-350,300	–	-2.83%	–
BCOV	Exit	BRIGHTCOVE INC	$0	–	-1,140,168	–	-3.08%	–
EHTH	Exit	EHEALTH INC	$0	–	-345,398	–	-3.10%	–
QCP	Exit	QUALITY CARE PPTYS INC	$0	–	-564,600	–	-3.29%	–
PDFS	Exit	PDF SOLUTIONS INC	$0	–	-565,015	–	-3.29%	–
GIII	Exit	G-III APPAREL GROUP LTD	$0	–	-334,700	–	-3.65%	–
SFLY	Exit	SHUTTERFLY INC	$0	–	-221,600	–	-4.04%	–
RMR	Exit	RMR GROUP INCcl a	$0	–	-212,484	–	-4.10%	–
STAY	Exit	EXTENDED STAY AMER INCunit 99/99/9999b	$0	–	-556,983	–	-4.19%	–
WK	Exit	WORKIVA INC	$0	–	-576,543	–	-4.52%	–
ENSG	Exit	ENSIGN GROUP INC	$0	–	-570,633	–	-4.84%	–
ETSY	Exit	ETSY INC	$0	–	-771,753	–	-4.90%	–
FWRD	Exit	FORWARD AIR CORP	$0	–	-239,313	–	-5.15%	–
OEC	Exit	ORION ENGINEERED CARBONS S A	$0	–	-787,872	–	-6.65%	–
MSTR	Exit	MICROSTRATEGY INCcl a new	$0	–	-152,350	–	-7.31%	–

Q3 2017

			Value		Shares		↓ Weighting
MSTR	New	MICROSTRATEGY INCcl a new	$19,457,000	–	152,350	–	7.31%	–
OEC	Buy	ORION ENGINEERED CARBONS S A	$17,688,000	+46.2%	787,872	+29.9%	6.65%	+38.9%
FWRD	Sell	FORWARD AIR CORP	$13,696,000	-9.7%	239,313	-15.9%	5.15%	-14.2%
ETSY	Buy	ETSY INC	$13,027,000	+19.5%	771,753	+6.2%	4.90%	+13.5%
ENSG	Buy	ENSIGN GROUP INC	$12,891,000	+11.6%	570,633	+7.6%	4.84%	+6.1%
WK	Buy	WORKIVA INC	$12,021,000	+10.3%	576,543	+0.8%	4.52%	+4.8%
STAY	Buy	EXTENDED STAY AMER INCunit 99/99/9999b	$11,140,000	+8.0%	556,983	+4.5%	4.19%	+2.6%
RMR	Buy	RMR GROUP INCcl a	$10,911,000	+20.8%	212,484	+14.4%	4.10%	+14.8%
SFLY	New	SHUTTERFLY INC	$10,743,000	–	221,600	–	4.04%	–
GIII	Sell	G-III APPAREL GROUP LTD	$9,713,000	-21.7%	334,700	-32.7%	3.65%	-25.6%
PDFS	New	PDF SOLUTIONS INC	$8,752,000	–	565,015	–	3.29%	–
QCP	Buy	QUALITY CARE PPTYS INC	$8,751,000	-11.3%	564,600	+4.7%	3.29%	-15.8%
EHTH	Buy	EHEALTH INC	$8,252,000	+49.6%	345,398	+17.7%	3.10%	+42.2%
BCOV	Buy	BRIGHTCOVE INC	$8,209,000	+213.6%	1,140,168	+170.0%	3.08%	+198.1%
MIK	Buy	MICHAELS COS INC	$7,521,000	+73.5%	350,300	+49.7%	2.83%	+64.9%
LORL	Sell	LORAL SPACE & COMMUNICATNS I	$7,491,000	+2.7%	151,327	-13.8%	2.82%	-2.4%
AVT	Sell	AVNET INC	$7,160,000	-13.5%	182,200	-14.5%	2.69%	-17.9%
MCRN	New	MILACRON HLDGS CORP	$7,119,000	–	422,215	–	2.68%	–
THRM	Buy	GENTHERM INC	$6,585,000	-2.8%	177,265	+1.5%	2.47%	-7.7%
CCRN	Buy	CROSS CTRY HEALTHCARE INC	$6,177,000	+247.8%	434,082	+215.5%	2.32%	+230.6%
SONS	Sell	SONUS NETWORKS INC	$5,802,000	-12.1%	758,488	-14.5%	2.18%	-16.5%
VRTV	New	VERITIV CORP	$4,646,000	–	142,941	–	1.75%	–
SERV	Buy	SERVICEMATER GLOBAL HLDGS I	$4,477,000	+63.2%	95,800	+36.9%	1.68%	+55.0%
GOLF	Buy	ACUSHNET HOLDINGS CORP	$3,820,000	+121.1%	215,078	+147.0%	1.44%	+110.1%
APTI	Sell	APPTIO INCcl a	$3,754,000	-30.9%	203,243	-35.1%	1.41%	-34.3%
CSTE	Sell	CAESARSTONE LTD	$3,502,000	-55.5%	117,500	-47.6%	1.32%	-57.7%
TISI	New	TEAM INC	$2,769,000	–	207,400	–	1.04%	–
FBM	Sell	FOUNDATION BLDG MATLS INC	$2,545,000	-10.0%	180,000	-18.2%	0.96%	-14.6%
FRGI	New	FIESTA RESTAURANT GROUP INC	$2,404,000	–	126,500	–	0.90%	–
TBBK	Buy	BANCORP INC DEL	$2,137,000	+22.8%	258,451	+12.6%	0.80%	+16.7%
NCMI	New	NATIONAL CINEMEDIA INC	$2,119,000	–	303,600	–	0.80%	–
LE	New	LANDS END INC NEW	$1,257,000	–	95,200	–	0.47%	–
P	New	PANDORA MEDIA INC	$963,000	–	125,000	–	0.36%	–
PHIIQ	Sell	PHI INC	$732,000	+13.8%	61,818	-5.2%	0.28%	+8.3%
FOGO	Sell	FOGO DE CHAO INC	$701,000	-81.0%	56,563	-78.7%	0.26%	-81.9%
FNJN	Exit	FINJAN HLDGS INC	$0	–	-100,000	–	-0.13%	–
SODA	Exit	SODASTREAM INTERNATIONAL LTD	$0	–	-7,598	–	-0.16%	–
APOG	Exit	APOGEE ENTERPRISES INC	$0	–	-15,006	–	-0.34%	–
CBLAQ	Exit	CBL & ASSOC PPTYS INC	$0	–	-120,000	–	-0.40%	–
RGS	Exit	REGIS CORP MINN	$0	–	-100,000	–	-0.41%	–
TAST	Exit	CARROLS RESTAURANT GROUP INC	$0	–	-85,000	–	-0.41%	–
EVC	Exit	ENTRAVISION COMMUNICATIONS Ccl a	$0	–	-166,700	–	-0.44%	–
MANH	Exit	MANHATTAN ASSOCS INC	$0	–	-44,000	–	-0.84%	–
DNB	Exit	DUN & BRADSTREET CORP DEL NE	$0	–	-26,000	–	-1.11%	–
PHIKQ	Exit	PHI INC	$0	–	-329,271	–	-1.27%	–
AAN	Exit	AARONS INC	$0	–	-85,053	–	-1.31%	–
FCN	Exit	FTI CONSULTING INC	$0	–	-118,000	–	-1.63%	–
EQC	Exit	EQUITY COMWLTH	$0	–	-145,567	–	-1.82%	–
DKS	Exit	DICKS SPORTING GOODS INC	$0	–	-135,000	–	-2.13%	–
TIER	Exit	TIER REIT INC	$0	–	-297,000	–	-2.17%	–
FCEA	Exit	FOREST CITY RLTY TR INC	$0	–	-233,000	–	-2.23%	–
RS	Exit	RELIANCE STEEL & ALUMINUM CO	$0	–	-78,409	–	-2.26%	–
ATRO	Exit	ASTRONICS CORP	$0	–	-218,984	–	-2.64%	–
MATX	Exit	MATSON INC	$0	–	-305,377	–	-3.63%	–

Q2 2017

			Value		Shares		↓ Weighting
FWRD	New	FORWARD AIR CORP	$15,163,000	–	284,586	–	6.00%	–
GIII	New	G-III APPAREL GROUP LTD	$12,400,000	–	497,000	–	4.90%	–
OEC	New	ORION ENGINEERED CARBONS S A	$12,098,000	–	606,435	–	4.78%	–
ENSG	New	ENSIGN GROUP INC	$11,548,000	–	530,433	–	4.57%	–
WK	New	WORKIVA INC	$10,901,000	–	572,243	–	4.31%	–
ETSY	New	ETSY INC	$10,900,000	–	726,653	–	4.31%	–
STAY	New	EXTENDED STAY AMER INCunit 99/99/9999b	$10,315,000	–	532,783	–	4.08%	–
QCP	New	QUALITY CARE PPTYS INC	$9,869,000	–	539,000	–	3.90%	–
MATX	New	MATSON INC	$9,174,000	–	305,377	–	3.63%	–
RMR	New	RMR GROUP INCcl a	$9,033,000	–	185,669	–	3.57%	–
AVT	New	AVNET INC	$8,281,000	–	213,000	–	3.28%	–
CSTE	New	CAESARSTONE LTD	$7,865,000	–	224,400	–	3.11%	–
LORL	New	LORAL SPACE & COMMUNICATNS I	$7,292,000	–	175,499	–	2.88%	–
THRM	New	GENTHERM INC	$6,777,000	–	174,665	–	2.68%	–
ATRO	New	ASTRONICS CORP	$6,672,000	–	218,984	–	2.64%	–
SONS	New	SONUS NETWORKS INC	$6,603,000	–	887,555	–	2.61%	–
MCK	New	MCKESSON CORP	$6,095,000	–	37,045	–	2.41%	–
RS	New	RELIANCE STEEL & ALUMINUM CO	$5,709,000	–	78,409	–	2.26%	–
FCEA	New	FOREST CITY RLTY TR INC	$5,632,000	–	233,000	–	2.23%	–
EHTH	New	EHEALTH INC	$5,516,000	–	293,426	–	2.18%	–
TIER	New	TIER REIT INC	$5,489,000	–	297,000	–	2.17%	–
APTI	New	APPTIO INCcl a	$5,431,000	–	313,043	–	2.15%	–
DKS	New	DICKS SPORTING GOODS INC	$5,377,000	–	135,000	–	2.13%	–
SPNE	New	SEASPINE HLDGS CORP	$4,810,000	–	417,524	–	1.90%	–
EQC	New	EQUITY COMWLTH	$4,600,000	–	145,567	–	1.82%	–
MIK	New	MICHAELS COS INC	$4,334,000	–	234,000	–	1.71%	–
FCN	New	FTI CONSULTING INC	$4,125,000	–	118,000	–	1.63%	–
FOGO	New	FOGO DE CHAO INC	$3,685,000	–	265,122	–	1.46%	–
CHUBK	New	COMMERCEHUB INC	$3,413,000	–	195,718	–	1.35%	–
AAN	New	AARONS INC	$3,309,000	–	85,053	–	1.31%	–
PHIKQ	New	PHI INC	$3,214,000	–	329,271	–	1.27%	–
FBM	New	FOUNDATION BLDG MATLS INC	$2,829,000	–	220,000	–	1.12%	–
DNB	New	DUN & BRADSTREET CORP DEL NE	$2,812,000	–	26,000	–	1.11%	–
SERV	New	SERVICEMATER GLOBAL HLDGS I	$2,743,000	–	70,000	–	1.08%	–
BCOV	New	BRIGHTCOVE INC	$2,618,000	–	422,278	–	1.04%	–
PNK	New	PINNACLE ENTMT INC NEW	$2,452,000	–	124,101	–	0.97%	–
MANH	New	MANHATTAN ASSOCS INC	$2,115,000	–	44,000	–	0.84%	–
CCRN	New	CROSS CTRY HEALTHCARE INC	$1,776,000	–	137,564	–	0.70%	–
TBBK	New	BANCORP INC DEL	$1,740,000	–	229,545	–	0.69%	–
GOLF	New	ACUSHNET HOLDINGS CORP	$1,728,000	–	87,078	–	0.68%	–
EVC	New	ENTRAVISION COMMUNICATIONS Ccl a	$1,100,000	–	166,700	–	0.44%	–
TAST	New	CARROLS RESTAURANT GROUP INC	$1,041,000	–	85,000	–	0.41%	–
RGS	New	REGIS CORP MINN	$1,027,000	–	100,000	–	0.41%	–
CBLAQ	New	CBL & ASSOC PPTYS INC	$1,012,000	–	120,000	–	0.40%	–
APOG	New	APOGEE ENTERPRISES INC	$853,000	–	15,006	–	0.34%	–
PHIIQ	New	PHI INC	$643,000	–	65,191	–	0.25%	–
SODA	New	SODASTREAM INTERNATIONAL LTD	$407,000	–	7,598	–	0.16%	–
FNJN	New	FINJAN HLDGS INC	$328,000	–	100,000	–	0.13%	–

Q4 2016

			Value		Shares		↓ Weighting
	Exit	AIR METHODS CORPcall	$0	–	-53,800	–	-0.02%	–
BIOS	Exit	BIOSCRIP INC	$0	–	-168,295	–	-0.26%	–
LPSN	Exit	LIVEPERSON INC	$0	–	-60,918	–	-0.28%	–
FRGI	Exit	FIESTA RESTAURANT GROUP INC	$0	–	-33,000	–	-0.43%	–
PNK	Exit	PINNACLE ENTMT INC NEW	$0	–	-77,400	–	-0.52%	–
PRSC	Exit	PROVIDENCE SVC CORP	$0	–	-23,400	–	-0.61%	–
PHIIQ	Exit	PHI INC	$0	–	-65,191	–	-0.64%	–
CHUBK	Exit	COMMERCEHUB INC	$0	–	-91,816	–	-0.79%	–
NSAM	Exit	NORTHSTAR ASSET MGMT GROUP I	$0	–	-115,242	–	-0.80%	–
AGFS	Exit	AGROFRESH SOLUTIONS INC	$0	–	-283,040	–	-0.81%	–
PDFS	Exit	PDF SOLUTIONS INC	$0	–	-95,238	–	-0.93%	–
SODA	Exit	SODASTREAM INTERNATIONAL LTD	$0	–	-66,196	–	-0.95%	–
	Exit	BLUCORA INCnote 4.250% 4/0	$0	–	-2,000,000	–	-1.03%	–
SHOR	Exit	SHORETEL INC	$0	–	-240,000	–	-1.03%	–
RICE	Exit	RICE ENERGY INC	$0	–	-92,347	–	-1.30%	–
SRT	Exit	STARTEK INC	$0	–	-478,330	–	-1.60%	–
FOGO	Exit	FOGO DE CHAO INC	$0	–	-306,122	–	-1.74%	–
RACE	Exit	FERRARI N V	$0	–	-64,396	–	-1.80%	–
DTSI	Exit	DTS INC	$0	–	-82,300	–	-1.89%	–
IBP	Exit	INSTALLED BLDG PRODS INC	$0	–	-99,395	–	-1.92%	–
STAY	Exit	EXTENDED STAY AMER INCunit 99/99/9999b	$0	–	-252,783	–	-1.93%	–
ATRO	Exit	ASTRONICS CORP	$0	–	-91,291	–	-2.22%	–
ESND	Exit	ESSENDANT INC	$0	–	-202,793	–	-2.24%	–
SPNE	Exit	SEASPINE HLDGS CORP	$0	–	-417,524	–	-2.27%	–
KE	Exit	KIMBALL ELECTRONICS INC	$0	–	-305,526	–	-2.28%	–
CBPX	Exit	CONTINENTAL BLDG PRODS INC	$0	–	-210,261	–	-2.38%	–
LORL	Exit	LORAL SPACE & COMMUNICATNS I	$0	–	-118,376	–	-2.50%	–
TBBK	Exit	BANCORP INC DEL	$0	–	-894,959	–	-3.10%	–
DSW	Exit	DSW INCcl a	$0	–	-287,623	–	-3.17%	–
HAR	Exit	HARMAN INTL INDS INC	$0	–	-69,844	–	-3.18%	–
XHR	Exit	XENIA HOTELS & RESORTS INC	$0	–	-413,850	–	-3.38%	–
AGX	Exit	ARGAN INC	$0	–	-106,623	–	-3.40%	–
EHTH	Exit	EHEALTH INC	$0	–	-594,114	–	-3.59%	–
MENT	Exit	MENTOR GRAPHICS CORP	$0	–	-265,878	–	-3.79%	–
MATX	Exit	MATSON INC	$0	–	-177,893	–	-3.82%	–
EQC	Exit	EQUITY COMWLTH	$0	–	-242,340	–	-3.95%	–
AAN	Exit	AARONS INC	$0	–	-313,827	–	-4.30%	–
RMR	Exit	RMR GROUP INCcl a	$0	–	-229,681	–	-4.70%	–
IL	Exit	INTRALINKS HLDGS INC	$0	–	-934,541	–	-5.06%	–
TIER	Exit	TIER REIT INC	$0	–	-670,481	–	-5.58%	–
PHIKQ	Exit	PHI INC	$0	–	-587,688	–	-5.75%	–
FWRD	Exit	FORWARD AIR CORP	$0	–	-346,004	–	-8.06%	–

Q3 2016

			Value		Shares		↓ Weighting
FWRD	Buy	FORWARD AIR CORP	$14,968,000	+2.3%	346,004	+5.3%	8.06%	-8.6%
PHIKQ	Buy	PHI INC	$10,678,000	+35.5%	587,688	+33.3%	5.75%	+21.0%
TIER	Sell	TIER REIT INC	$10,352,000	-13.1%	670,481	-13.7%	5.58%	-22.3%
IL	Buy	INTRALINKS HLDGS INC	$9,401,000	+130.8%	934,541	+49.1%	5.06%	+106.2%
RMR	Sell	RMR GROUP INCcl a	$8,714,000	+6.7%	229,681	-12.9%	4.70%	-4.7%
AAN	Sell	AARONS INC	$7,977,000	+6.5%	313,827	-8.3%	4.30%	-4.8%
EQC	Sell	EQUITY COMWLTH	$7,324,000	-5.2%	242,340	-8.7%	3.95%	-15.3%
MATX	Buy	MATSON INC	$7,094,000	+71.2%	177,893	+38.6%	3.82%	+52.9%
MENT	Buy	MENTOR GRAPHICS CORP	$7,030,000	+38.7%	265,878	+11.5%	3.79%	+24.0%
EHTH	New	EHEALTH INC	$6,660,000	–	594,114	–	3.59%	–
AGX	Sell	ARGAN INC	$6,311,000	-52.7%	106,623	-66.6%	3.40%	-57.7%
XHR	Buy	XENIA HOTELS & RESORTS INC	$6,282,000	+45.7%	413,850	+61.0%	3.38%	+30.1%
HAR	Buy	HARMAN INTL INDS INC	$5,898,000	+31.3%	69,844	+11.7%	3.18%	+17.4%
DSW	Sell	DSW INCcl a	$5,891,000	-15.9%	287,623	-13.0%	3.17%	-24.8%
TBBK	New	BANCORP INC DEL	$5,746,000	–	894,959	–	3.10%	–
LORL	New	LORAL SPACE & COMMUNICATNS I	$4,630,000	–	118,376	–	2.50%	–
CBPX	Sell	CONTINENTAL BLDG PRODS INC	$4,413,000	-26.5%	210,261	-22.2%	2.38%	-34.4%
SPNE	Buy	SEASPINE HLDGS CORP	$4,221,000	+12.9%	417,524	+17.0%	2.27%	+0.8%
ESND	New	ESSENDANT INC	$4,161,000	–	202,793	–	2.24%	–
ATRO	New	ASTRONICS CORP	$4,113,000	–	91,291	–	2.22%	–
IBP	Sell	INSTALLED BLDG PRODS INC	$3,565,000	-14.7%	99,395	-13.7%	1.92%	-23.8%
DTSI	Sell	DTS INC	$3,501,000	+35.6%	82,300	-15.7%	1.89%	+21.2%
FOGO	Buy	FOGO DE CHAO INC	$3,236,000	-14.5%	306,122	+5.6%	1.74%	-23.6%
SRT	Sell	STARTEK INC	$2,975,000	+0.4%	478,330	-29.5%	1.60%	-10.3%
SHOR	New	SHORETEL INC	$1,920,000	–	240,000	–	1.03%	–
PDFS	Sell	PDF SOLUTIONS INC	$1,730,000	-37.3%	95,238	-51.7%	0.93%	-44.0%
AGFS	Sell	AGROFRESH SOLUTIONS INC	$1,497,000	-28.1%	283,040	-27.8%	0.81%	-35.7%
NSAM	New	NORTHSTAR ASSET MGMT GROUP I	$1,490,000	–	115,242	–	0.80%	–
CHUBK	New	COMMERCEHUB INC	$1,461,000	–	91,816	–	0.79%	–
PHIIQ	New	PHI INC	$1,197,000	–	65,191	–	0.64%	–
PRSC	Sell	PROVIDENCE SVC CORP	$1,138,000	-30.8%	23,400	-36.1%	0.61%	-38.1%
PNK	New	PINNACLE ENTMT INC NEW	$955,000	–	77,400	–	0.52%	–
FRGI	New	FIESTA RESTAURANT GROUP INC	$792,000	–	33,000	–	0.43%	–
LPSN	Sell	LIVEPERSON INC	$512,000	-89.3%	60,918	-91.9%	0.28%	-90.5%
BIOS	New	BIOSCRIP INC	$486,000	–	168,295	–	0.26%	–
	New	AIR METHODS CORPcall	$40,000	–	53,800	–	0.02%	–
JIVE	Exit	JIVE SOFTWARE INC	$0	–	-82,000	–	-0.19%	–
QADA	Exit	QAD INCcl a	$0	–	-20,697	–	-0.24%	–
WD	Exit	WALKER & DUNLOP INC	$0	–	-30,000	–	-0.41%	–
GCAP	Exit	GAIN CAP HLDGS INC	$0	–	-123,955	–	-0.47%	–
CDI	Exit	C D I CORP	$0	–	-153,991	–	-0.57%	–
AHH	Exit	ARMADA HOFFLER PPTYS INC	$0	–	-68,973	–	-0.57%	–
VVI	Exit	VIAD CORP	$0	–	-42,000	–	-0.78%	–
BCOR	Exit	BLUCORA INC	$0	–	-132,132	–	-0.83%	–
ELY	Exit	CALLAWAY GOLF CO	$0	–	-194,693	–	-1.20%	–
ZAGG	Exit	ZAGG INC	$0	–	-386,000	–	-1.22%	–
BHE	Exit	BENCHMARK ELECTRS INC	$0	–	-105,467	–	-1.34%	–
BLOX	Exit	INFOBLOX INC	$0	–	-137,599	–	-1.56%	–

Q2 2016

			Value		Shares		↓ Weighting
FWRD	New	FORWARD AIR CORP	$14,628,000	–	328,504	–	8.82%	–
AGX	New	ARGAN INC	$13,333,000	–	319,573	–	8.04%	–
TIER	New	TIER REIT INC	$11,912,000	–	777,050	–	7.18%	–
RMR	New	RMR GROUP INCcl a	$8,166,000	–	263,681	–	4.92%	–
PHIKQ	New	PHI INC	$7,883,000	–	440,879	–	4.75%	–
EQC	New	EQUITY COMWLTH	$7,729,000	–	265,340	–	4.66%	–
AAN	New	AARONS INC	$7,489,000	–	342,127	–	4.52%	–
DSW	New	DSW INCcl a	$7,003,000	–	330,623	–	4.22%	–
CBPX	New	CONTINENTAL BLDG PRODS INC	$6,008,000	–	270,261	–	3.62%	–
MENT	New	MENTOR GRAPHICS CORP	$5,068,000	–	238,378	–	3.06%	–
LPSN	New	LIVEPERSON INC	$4,797,000	–	756,674	–	2.89%	–
HAR	New	HARMAN INTL INDS INC	$4,491,000	–	62,525	–	2.71%	–
XHR	New	XENIA HOTELS & RESORTS INC	$4,313,000	–	257,016	–	2.60%	–
IBP	New	INSTALLED BLDG PRODS INC	$4,180,000	–	115,195	–	2.52%	–
MATX	New	MATSON INC	$4,144,000	–	128,334	–	2.50%	–
IL	New	INTRALINKS HLDGS INC	$4,073,000	–	626,579	–	2.46%	–
KE	New	KIMBALL ELECTRONICS INC	$3,804,000	–	305,526	–	2.29%	–
FOGO	New	FOGO DE CHAO INC	$3,784,000	–	289,754	–	2.28%	–
STAY	New	EXTENDED STAY AMERICA INCunit 99/99/9999b	$3,779,000	–	252,783	–	2.28%	–
SPNE	New	SEASPINE HLDGS CORP	$3,740,000	–	356,897	–	2.26%	–
SRT	New	STARTEK INC	$2,964,000	–	678,330	–	1.79%	–
PDFS	New	PDF SOLUTIONS INC	$2,759,000	–	197,238	–	1.66%	–
RACE	New	FERRARI N V	$2,636,000	–	64,396	–	1.59%	–
BLOX	New	INFOBLOX INC	$2,581,000	–	137,599	–	1.56%	–
DTSI	New	DTS INC	$2,581,000	–	97,595	–	1.56%	–
BHE	New	BENCHMARK ELECTRS INC	$2,231,000	–	105,467	–	1.34%	–
AGFS	New	AGROFRESH SOLUTIONS	$2,083,000	–	392,274	–	1.26%	–
RICE	New	RICE ENERGY INC	$2,035,000	–	92,347	–	1.23%	–
ZAGG	New	ZAGG INC	$2,027,000	–	386,000	–	1.22%	–
ELY	New	CALLAWAY GOLF CO	$1,988,000	–	194,693	–	1.20%	–
	New	BLUCORA INCnote 4.250% 4/0	$1,840,000	–	2,000,000	–	1.11%	–
PRSC	New	PROVIDENCE SVC CORP	$1,644,000	–	36,633	–	0.99%	–
SODA	New	SODASTREAM INTERNATIONAL LTD	$1,412,000	–	66,196	–	0.85%	–
BCOR	New	BLUCORA INC	$1,369,000	–	132,132	–	0.83%	–
VVI	New	VIAD CORP	$1,302,000	–	42,000	–	0.78%	–
AHH	New	ARMADA HOFFLER PPTYS INC	$948,000	–	68,973	–	0.57%	–
CDI	New	C D I CORP	$939,000	–	153,991	–	0.57%	–
GCAP	New	GAIN CAP HLDGS INC	$783,000	–	123,955	–	0.47%	–
WD	New	WALKER & DUNLOP INC	$683,000	–	30,000	–	0.41%	–
QADA	New	QAD INCcl a	$399,000	–	20,697	–	0.24%	–
JIVE	New	JIVE SOFTWARE INC	$308,000	–	82,000	–	0.19%	–

Q4 2015

			Value		Shares		↓ Weighting
CASLQ	Exit	CASTLE A M & CO	$0	–	-131,249	–	-0.22%	–
DTSI	Exit	DTS INC	$0	–	-25,000	–	-0.50%	–
CTRE	Exit	CARETRUST REIT INC	$0	–	-73,351	–	-0.62%	–
TRK	Exit	SPEEDWAY MOTORSPORTS INC	$0	–	-55,000	–	-0.74%	–
BRSS	Exit	GLOBAL BRASS & COPPER HLDGS I	$0	–	-56,701	–	-0.87%	–
ZIXI	Exit	ZIX CORP	$0	–	-321,281	–	-1.01%	–
ZAGG	Exit	ZAGG INC	$0	–	-201,291	–	-1.02%	–
	Exit	BLOUNT INTL INC NEW	$0	–	-250,000	–	-1.04%	–
AEPI	Exit	AEP INDS INC	$0	–	-25,859	–	-1.10%	–
SPNE	Exit	SEASPINE HLDGS CORP	$0	–	-97,756	–	-1.18%	–
LPSN	Exit	LIVEPERSON INC	$0	–	-231,377	–	-1.30%	–
IL	Exit	INTRALINKS HLDGS INC	$0	–	-211,115	–	-1.30%	–
ACXM	Exit	ACXIOM CORP	$0	–	-90,000	–	-1.32%	–
MYCC	Exit	CLUBCORP HLDGS INC	$0	–	-85,000	–	-1.36%	–
MESG	Exit	XURA INC	$0	–	-89,201	–	-1.49%	–
OME	Exit	OMEGA PROTEIN CORP	$0	–	-121,649	–	-1.54%	–
MRC	Exit	MRC GLOBAL INC	$0	–	-194,500	–	-1.62%	–
SRT	Exit	STARTEK INC	$0	–	-678,330	–	-1.69%	–
TYPE	Exit	MONOTYPE IMAGING HOLDINGS IN	$0	–	-110,800	–	-1.80%	–
DST	Exit	DST SYS INC DEL	$0	–	-24,195	–	-1.90%	–
REMY	Exit	REMY INTERNATIONAL INC	$0	–	-89,790	–	-1.96%	–
ELY	Exit	CALLAWAY GOLF CO	$0	–	-325,225	–	-2.02%	–
AGYS	Exit	AGILYSYS INC	$0	–	-248,576	–	-2.06%	–
KE	Exit	KIMBALL ELECTRONICS INC	$0	–	-256,603	–	-2.28%	–
ISCA	Exit	INTERNATIONAL SPEEDWAY CORPcl a	$0	–	-101,094	–	-2.39%	–
TREC	Exit	TRECORA RES	$0	–	-261,834	–	-2.42%	–
CDI	Exit	C D I CORP	$0	–	-387,644	–	-2.47%	–
AGFS	Exit	AGROFRESH SOLUTIONS INC	$0	–	-436,631	–	-2.58%	–
KLXI	Exit	KLX INC	$0	–	-103,610	–	-2.76%	–
FOGO	Exit	FOGO DE CHAO INC	$0	–	-245,621	–	-2.86%	–
AGX	Exit	ARGAN INC	$0	–	-115,261	–	-2.98%	–
AHH	Exit	ARMADA HOFFLER PROPERTIES IN	$0	–	-512,453	–	-3.73%	–
IIIN	Exit	INSTEEL INDUSTRIES INC	$0	–	-314,695	–	-3.77%	–
PRSC	Exit	PROVIDENCE SVC CORP	$0	–	-116,747	–	-3.79%	–
IBP	Exit	INSTALLED BLDG PRODS INC	$0	–	-214,763	–	-4.04%	–
MSM	Exit	MSC INDL DIRECT INCcl a	$0	–	-90,800	–	-4.13%	–
SIR	Exit	SELECT INCOME REIT	$0	–	-297,071	–	-4.21%	–
TNET	Exit	TRINET GROUP INC	$0	–	-369,500	–	-4.63%	–
VVI	Exit	VIAD CORP	$0	–	-238,256	–	-5.15%	–
EGL	Exit	ENGILITY HLDGS INC NEW	$0	–	-273,073	–	-5.25%	–
BHE	Exit	BENCHMARK ELECTRONICS INC	$0	–	-673,090	–	-10.91%	–

Q3 2015

			Value		Shares		↓ Weighting
BHE	Buy	BENCHMARK ELECTRONICS INC	$14,646,000	+2142.9%	673,090	+2143.6%	10.91%	+1943.6%
EGL	New	ENGILITY HLDGS INC NEW	$7,040,000	–	273,073	–	5.25%	–
VVI	Sell	VIAD CORP	$6,907,000	-22.1%	238,256	-27.2%	5.15%	-29.1%
TNET	New	TRINET GROUP INC	$6,208,000	–	369,500	–	4.63%	–
SIR	Buy	SELECT INCOME REIT	$5,647,000	+6.4%	297,071	+15.6%	4.21%	-3.1%
IBP	Sell	INSTALLED BLDG PRODS INC	$5,429,000	-41.4%	214,763	-43.3%	4.04%	-46.7%
PRSC	Sell	PROVIDENCE SVC CORP	$5,088,000	-18.5%	116,747	-17.2%	3.79%	-25.8%
IIIN	Buy	INSTEEL INDUSTRIES INC	$5,060,000	+6.1%	314,695	+23.4%	3.77%	-3.4%
AHH	Sell	ARMADA HOFFLER PROPERTIES IN	$5,007,000	-4.5%	512,453	-2.3%	3.73%	-13.0%
AGX	Sell	ARGAN INC	$3,997,000	-22.7%	115,261	-10.1%	2.98%	-29.6%
FOGO	New	FOGO DE CHAO INC	$3,832,000	–	245,621	–	2.86%	–
KLXI	Sell	KLX INC	$3,703,000	-59.8%	103,610	-50.3%	2.76%	-63.4%
AGFS	New	AGROFRESH SOLUTIONS INC	$3,467,000	–	436,631	–	2.58%	–
CDI	Sell	C D I CORP	$3,314,000	-40.3%	387,644	-9.2%	2.47%	-45.6%
TREC	Buy	TRECORA RES	$3,252,000	+263.4%	261,834	+341.9%	2.42%	+231.0%
ISCA	New	INTERNATIONAL SPEEDWAY CORPcl a	$3,207,000	–	101,094	–	2.39%	–
KE	New	KIMBALL ELECTRONICS INC	$3,061,000	–	256,603	–	2.28%	–
AGYS	Sell	AGILYSYS INC	$2,764,000	-3.9%	248,576	-20.7%	2.06%	-12.5%
REMY	Sell	REMY INTERNATIONAL INC	$2,626,000	-49.0%	89,790	-61.5%	1.96%	-53.6%
DST	New	DST SYS INC DEL	$2,544,000	–	24,195	–	1.90%	–
TYPE	New	MONOTYPE IMAGING HOLDINGS IN	$2,418,000	–	110,800	–	1.80%	–
SRT	Buy	STARTEK INC	$2,272,000	-31.1%	678,330	+21.4%	1.69%	-37.2%
OME	New	OMEGA PROTEIN CORP	$2,064,000	–	121,649	–	1.54%	–
MESG	New	XURA INC	$1,996,000	–	89,201	–	1.49%	–
MYCC	Buy	CLUBCORP HLDGS INC	$1,824,000	-10.1%	85,000	+900.0%	1.36%	-18.2%
ACXM	Sell	ACXIOM CORP	$1,778,000	-42.2%	90,000	-48.6%	1.32%	-47.4%
IL	Sell	INTRALINKS HLDGS INC	$1,750,000	-36.1%	211,115	-8.1%	1.30%	-41.8%
LPSN	Buy	LIVEPERSON INC	$1,749,000	-11.5%	231,377	+14.9%	1.30%	-19.4%
SPNE	New	SEASPINE HLDGS CORP	$1,584,000	–	97,756	–	1.18%	–
AEPI	Sell	AEP INDS INC	$1,482,000	-63.6%	25,859	-65.0%	1.10%	-66.9%
	New	BLOUNT INTL INC NEW	$1,393,000	–	250,000	–	1.04%	–
ZAGG	New	ZAGG INC	$1,367,000	–	201,291	–	1.02%	–
ZIXI	Sell	ZIX CORP	$1,353,000	-40.8%	321,281	-27.4%	1.01%	-46.2%
BRSS	Sell	GLOBAL BRASS & COPPER HLDGS I	$1,163,000	-60.9%	56,701	-67.6%	0.87%	-64.4%
TRK	New	SPEEDWAY MOTORSPORTS INC	$993,000	–	55,000	–	0.74%	–
CTRE	New	CARETRUST REIT INC	$833,000	–	73,351	–	0.62%	–
DTSI	New	DTS INC	$668,000	–	25,000	–	0.50%	–
INAP	Exit	INTERNAP CORP	$0	–	-80,000	–	-0.61%	–
FORR	Exit	FORRESTER RESH INC	$0	–	-20,919	–	-0.62%	–
LE	Exit	LANDS END INC NEW	$0	–	-30,600	–	-0.62%	–
CROX	Exit	CROCS INC	$0	–	-56,243	–	-0.68%	–
UTI	Exit	UNIVERSAL TECHNICAL INST INC	$0	–	-106,831	–	-0.75%	–
CNSI	Exit	COMVERSE INC	$0	–	-75,861	–	-1.25%	–
CECO	Exit	CAREER EDUCATION CORP	$0	–	-475,000	–	-1.28%	–
CCRN	Exit	CROSS CTRY HEALTHCARE INC	$0	–	-127,854	–	-1.33%	–
BLT	Exit	BLOUNT INTL INC NEW	$0	–	-170,000	–	-1.52%	–
	Exit	BOULEVARD ACQUISITION CORP	$0	–	-234,010	–	-2.39%	–
WPG	Exit	WP GLIMCHER IN	$0	–	-294,900	–	-3.26%	–

Q2 2015

			Value		Shares		↓ Weighting
IBP	New	INSTALLED BLDG PRODS INC	$9,271,000	–	378,727	–	7.59%	–
KLXI	New	KLX INC	$9,206,000	–	208,610	–	7.53%	–
VVI	New	VIAD CORP	$8,867,000	–	327,061	–	7.26%	–
MSM	New	MSC INDL DIRECT INCcl a	$6,335,000	–	90,800	–	5.18%	–
PRSC	New	PROVIDENCE SVC CORP	$6,241,000	–	140,947	–	5.11%	–
CDI	New	C D I CORP	$5,548,000	–	426,747	–	4.54%	–
SIR	New	SELECT INCOME REIT	$5,306,000	–	257,071	–	4.34%	–
AHH	New	ARMADA HOFFLER PPTYS INC	$5,241,000	–	524,638	–	4.29%	–
AGX	New	ARGAN INC	$5,172,000	–	128,240	–	4.23%	–
REMY	New	REMY INTL INC	$5,151,000	–	232,980	–	4.22%	–
IIIN	New	INSTEEL INDUSTRIES INC	$4,769,000	–	255,047	–	3.90%	–
AEPI	New	AEP INDS INC	$4,076,000	–	73,838	–	3.34%	–
WPG	New	WP GLIMCHER IN	$3,990,000	–	294,900	–	3.26%	–
SRT	New	STARTEK INC	$3,296,000	–	558,591	–	2.70%	–
ACXM	New	ACXIOM CORP	$3,077,000	–	175,000	–	2.52%	–
MRC	New	MRC GLOBAL INC	$3,003,000	–	194,500	–	2.46%	–
BRSS	New	GLOBAL BRASS & COPPER HLDGS I	$2,978,000	–	175,070	–	2.44%	–
	New	BOULEVARD ACQUISITION CORP	$2,925,000	–	234,010	–	2.39%	–
ELY	New	CALLAWAY GOLF CO	$2,908,000	–	325,225	–	2.38%	–
AGYS	New	AGILYSYS INC	$2,876,000	–	313,273	–	2.35%	–
IL	New	INTRALINKS HLDGS INC	$2,737,000	–	229,814	–	2.24%	–
ZIXI	New	ZIX CORP	$2,287,000	–	442,411	–	1.87%	–
MYCC	New	CLUBCORP HLDGS INC	$2,030,000	–	8,500	–	1.66%	–
LPSN	New	LIVEPERSON INC	$1,976,000	–	201,377	–	1.62%	–
BLT	New	BLOUNT INTL INC NEW	$1,856,000	–	170,000	–	1.52%	–
CCRN	New	CROSS CTRY HEALTHCARE INC	$1,621,000	–	127,854	–	1.33%	–
CECO	New	CAREER EDUCATION CORP	$1,568,000	–	475,000	–	1.28%	–
CNSI	New	COMVERSE INC	$1,523,000	–	75,861	–	1.25%	–
UTI	New	UNIVERSAL TECHNICAL INST INC	$919,000	–	106,831	–	0.75%	–
TREC	New	TRECORA RES	$895,000	–	59,258	–	0.73%	–
CROX	New	CROCS INC	$827,000	–	56,243	–	0.68%	–
CASLQ	New	CASTLE A M & CO	$810,000	–	131,249	–	0.66%	–
LE	New	LANDS END INC NEW	$760,000	–	30,600	–	0.62%	–
FORR	New	FORRESTER RESH INC	$754,000	–	20,919	–	0.62%	–
INAP	New	INTERNAP CORP	$740,000	–	80,000	–	0.61%	–
BHE	New	BENCHMARK ELECTRS INC	$653,000	–	30,000	–	0.53%	–

Q4 2014

			Value		Shares		↓ Weighting
TITN	Exit	TITAN MACHY INC	$0	–	-52,000	–	-1.00%	–
CDI	Exit	C D I CORP	$0	–	-51,100	–	-1.10%	–
PRSC	Exit	PROVIDENCE SVC CORP	$0	–	-17,033	–	-1.22%	–
PRSS	Exit	CAFEPRESS INC	$0	–	-270,000	–	-1.25%	–
TBBK	Exit	BANCORP INC DEL	$0	–	-110,000	–	-1.40%	–
DMD	Exit	DEMAND MEDIA INC	$0	–	-125,000	–	-1.64%	–
GUID	Exit	GUIDANCE SOFTWARE INC	$0	–	-178,629	–	-1.78%	–
ZIXI	Exit	ZIX CORP	$0	–	-444,727	–	-2.26%	–
AGYS	Exit	AGILYSYS INC	$0	–	-131,690	–	-2.29%	–
ARCO	Exit	ARCOS DORADOS HOLDINGS INC	$0	–	-265,900	–	-2.36%	–
CCRN	Exit	CROSS CTRY HEALTHCARE INC	$0	–	-177,854	–	-2.45%	–
BIRT	Exit	ACTUATE CORP	$0	–	-455,683	–	-2.64%	–
BRSS	Exit	GLOBAL BRASS & COPPR HLDGS I	$0	–	-126,769	–	-2.76%	–
IL	Exit	INTRALINKS HLDGS INC	$0	–	-268,147	–	-3.22%	–
AEPI	Exit	AEP INDS INC	$0	–	-60,396	–	-3.39%	–
AGX	Exit	ARGAN INC	$0	–	-76,433	–	-3.78%	–
TECD	Exit	TECH DATA CORP	$0	–	-51,379	–	-4.48%	–
VVI	Exit	VIAD CORP	$0	–	-150,222	–	-4.60%	–
AHH	Exit	ARMADA HOFFLER PPTYS INC	$0	–	-391,471	–	-5.27%	–
REMY	Exit	REMY INTL INC	$0	–	-178,407	–	-5.43%	–
CNSI	Exit	COMVERSE INC	$0	–	-169,049	–	-5.60%	–
SRT	Exit	STARTEK INC	$0	–	-527,287	–	-6.06%	–
NCMI	Exit	NATIONAL CINEMEDIA INC	$0	–	-310,155	–	-6.67%	–
IBP	Exit	INSTALLED BLDG PRODS INC	$0	–	-371,927	–	-7.75%	–
BCOR	Exit	BLUCORA INC	$0	–	-352,557	–	-7.97%	–
PERY	Exit	ELLIS PERRY INTL INC	$0	–	-385,298	–	-11.63%	–

Q3 2014

			Value		Shares		↓ Weighting
PERY	Sell	ELLIS PERRY INTL INC	$7,841,000	+8.8%	385,298	-6.7%	11.63%	+32.3%
BCOR	Buy	BLUCORA INC	$5,373,000	+1.5%	352,557	+25.7%	7.97%	+23.4%
IBP	Buy	INSTALLED BLDG PRODS INC	$5,226,000	+23.5%	371,927	+7.7%	7.75%	+50.2%
NCMI	Buy	NATIONAL CINEMEDIA INC	$4,500,000	+195.5%	310,155	+256.7%	6.67%	+259.1%
SRT	Buy	STARTEK INC	$4,086,000	+2.2%	527,287	+1.8%	6.06%	+24.3%
CNSI	Buy	COMVERSE INC	$3,775,000	+27.4%	169,049	+52.2%	5.60%	+54.9%
REMY	Buy	REMY INTL INC	$3,663,000	+97.8%	178,407	+124.9%	5.43%	+140.5%
AHH	Buy	ARMADA HOFFLER PPTYS INC	$3,555,000	+85.4%	391,471	+97.7%	5.27%	+125.4%
VVI	Buy	VIAD CORP	$3,102,000	-12.1%	150,222	+1.4%	4.60%	+6.8%
TECD	Sell	TECH DATA CORP	$3,024,000	-21.2%	51,379	-16.3%	4.48%	-4.2%
AGX	Sell	ARGAN INC	$2,551,000	-52.7%	76,433	-47.1%	3.78%	-42.5%
AEPI	Sell	AEP INDS INC	$2,287,000	+8.6%	60,396	-0.0%	3.39%	+32.0%
IL	New	INTRALINKS HLDGS INC	$2,172,000	–	268,147	–	3.22%	–
BRSS	Buy	GLOBAL BRASS & COPPR HLDGS I	$1,860,000	+73.7%	126,769	+100.0%	2.76%	+111.2%
BIRT	Sell	ACTUATE CORP	$1,777,000	-49.0%	455,683	-37.6%	2.64%	-38.0%
ZIXI	Buy	ZIX CORP	$1,521,000	+9.0%	444,727	+8.9%	2.26%	+32.4%
GUID	Buy	GUIDANCE SOFTWARE INC	$1,202,000	+6.7%	178,629	+44.6%	1.78%	+29.6%
DMD	New	DEMAND MEDIA INC	$1,106,000	–	125,000	–	1.64%	–
TBBK	New	BANCORP INC DEL	$945,000	–	110,000	–	1.40%	–
PRSC	Sell	PROVIDENCE SVC CORP	$824,000	-80.9%	17,033	-85.6%	1.22%	-76.8%
CDI	New	C D I CORP	$742,000	–	51,100	–	1.10%	–
TITN	New	TITAN MACHY INC	$675,000	–	52,000	–	1.00%	–
SNOW	Exit	INTRAWEST RESORTS HLDGS INC	$0	–	-20,300	–	-0.28%	–
MCRS	Exit	MICROS SYS INC	$0	–	-10,000	–	-0.83%	–
SCVL	Exit	SHOE CARNIVAL INC	$0	–	-76,181	–	-1.92%	–
TYPE	Exit	MONOTYPE IMAGING HOLDINGS IN	$0	–	-74,267	–	-2.55%	–
YUME	Exit	YUME INC	$0	–	-377,300	–	-2.72%	–
RHP	Exit	RYMAN HOSPITALITY PPTYS INC	$0	–	-73,000	–	-4.29%	–
JBL	Exit	JABIL CIRCUIT INC	$0	–	-181,400	–	-4.62%	–
EPIQ	Exit	EPIQ SYS INC	$0	–	-373,535	–	-6.40%	–

Q2 2014

			Value		Shares		↓ Weighting
PERY	New	ELLIS PERRY INTL INC	$7,204,000	–	413,079	–	8.79%	–
AGX	New	ARGAN INC	$5,390,000	–	144,544	–	6.58%	–
BCOR	New	BLUCORA INC	$5,294,000	–	280,557	–	6.46%	–
EPIQ	New	EPIQ SYS INC	$5,248,000	–	373,535	–	6.40%	–
PRSC	New	PROVIDENCE SVC CORP	$4,319,000	–	118,036	–	5.27%	–
IBP	New	INSTALLED BLDG PRODS INC	$4,230,000	–	345,327	–	5.16%	–
SRT	New	STARTEK INC	$3,997,000	–	517,723	–	4.88%	–
TECD	New	TECH DATA CORP	$3,837,000	–	61,379	–	4.68%	–
JBL	New	JABIL CIRCUIT INC	$3,791,000	–	181,400	–	4.62%	–
VVI	New	VIAD CORP	$3,531,000	–	148,127	–	4.31%	–
RHP	New	RYMAN HOSPITALITY PPTYS INC	$3,515,000	–	73,000	–	4.29%	–
BIRT	New	ACTUATE CORP	$3,482,000	–	730,083	–	4.25%	–
ARCO	New	ARCOS DORADOS HOLDINGS INC	$2,978,000	–	265,900	–	3.63%	–
CNSI	New	COMVERSE INC	$2,962,000	–	111,036	–	3.61%	–
YUME	New	YUME INC	$2,226,000	–	377,300	–	2.72%	–
AEPI	New	AEP INDS INC	$2,106,000	–	60,406	–	2.57%	–
TYPE	New	MONOTYPE IMAGING HOLDINGS IN	$2,092,000	–	74,267	–	2.55%	–
AHH	New	ARMADA HOFFLER PPTYS INC	$1,917,000	–	198,020	–	2.34%	–
AGYS	New	AGILYSYS INC	$1,854,000	–	131,690	–	2.26%	–
REMY	New	REMY INTL INC	$1,852,000	–	79,325	–	2.26%	–
SCVL	New	SHOE CARNIVAL INC	$1,573,000	–	76,181	–	1.92%	–
NCMI	New	NATIONAL CINEMEDIA INC	$1,523,000	–	86,955	–	1.86%	–
PRSS	New	CAFEPRESS INC	$1,396,000	–	270,000	–	1.70%	–
ZIXI	New	ZIX CORP	$1,396,000	–	408,327	–	1.70%	–
CCRN	New	CROSS CTRY HEALTHCARE INC	$1,160,000	–	177,854	–	1.42%	–
GUID	New	GUIDANCE SOFTWARE INC	$1,127,000	–	123,527	–	1.38%	–
BRSS	New	GLOBAL BRASS & COPPR HLDGS I	$1,071,000	–	63,369	–	1.31%	–
MCRS	New	MICROS SYS INC	$679,000	–	10,000	–	0.83%	–
SNOW	New	INTRAWEST RESORTS HLDGS INC	$233,000	–	20,300	–	0.28%	–

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