Mork Capital Management, LLC Activity Q4 2014-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
TPR	New	TAPESTRY INC	$1,581,250	–	55,000	–	1.23%	–
	New	BGC GROUP INCcl a	$1,320,000	–	250,000	–	1.03%	–
DXC	Buy	DXC TECHNOLOGY CO	$1,253,966	+16.7%	60,200	+49.8%	0.98%	+18.7%
TWI	New	TITAN INTL INC ILL	$1,208,700	–	90,000	–	0.94%	–
AAPL	Sell	APPLE INC	$1,027,260	-47.0%	6,000	-40.0%	0.80%	-46.1%
RILY	Buy	B. RILEY FINANCIAL INC	$1,024,750	+8.7%	25,000	+22.0%	0.80%	+10.5%
GPRK	New	GEOPARK LTD	$719,600	–	70,000	–	0.56%	–
BIG	Exit	BIG LOTS INC	$0	–	-40,000	–	-0.27%	–
CTG	Exit	COMPUTER TASK GROUP INC	$0	–	-100,000	–	-0.58%	–
BGCP	Exit	BGC PARTNERS INCcl a	$0	–	-250,000	–	-0.85%	–

Q2 2023

			Value		Shares		↓ Weighting
FDX	New	FEDEX CORP	$3,470,600	–	14,000	–	2.66%	–
MCK	New	MCKESSON CORP	$3,204,825	–	7,500	–	2.46%	–
TEX	New	TEREX CORP NEW	$2,991,500	–	50,000	–	2.30%	–
OI	New	O-I GLASS INC	$2,777,166	–	130,200	–	2.13%	–
DFS	New	DISCOVER FINL SVCS	$2,337,000	–	20,000	–	1.79%	–
DELL	New	DELL TECHNOLOGIES INCcl c	$2,164,400	–	40,000	–	1.66%	–
KBH	New	KB HOME	$2,068,400	–	40,000	–	1.59%	–
ARW	New	ARROW ELECTRS INC	$2,005,220	–	14,000	–	1.54%	–
TPX	New	TEMPUR SEALY INTL INC	$2,003,500	–	50,000	–	1.54%	–
ABG	New	ASBURY AUTOMOTIVE GROUP INC	$1,971,444	–	8,200	–	1.51%	–
AAPL	New	APPLE INC	$1,939,700	–	10,000	–	1.49%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$1,918,500	–	30,000	–	1.47%	–
AL	New	AIR LEASE CORPcl a	$1,883,250	–	45,000	–	1.45%	–
SFM	New	SPROUTS FMRS MKT INC	$1,836,500	–	50,000	–	1.41%	–
CI	New	THE CIGNA GROUP	$1,823,900	–	6,500	–	1.40%	–
ACU	New	ACME UTD CORP	$1,745,800	–	70,000	–	1.34%	–
BC	New	BRUNSWICK CORP	$1,732,800	–	20,000	–	1.33%	–
GOOGL	New	ALPHABET INCcap stk cl a	$1,675,800	–	14,000	–	1.29%	–
AOSL	New	ALPHA & OMEGA SEMICONDUCTOR	$1,640,000	–	50,000	–	1.26%	–
TKR	New	TIMKEN CO	$1,519,398	–	16,600	–	1.17%	–
NXST	New	NEXSTAR MEDIA GROUP INC	$1,498,950	–	9,000	–	1.15%	–
WHR	New	WHIRLPOOL CORP	$1,487,900	–	10,000	–	1.14%	–
ARCH	New	ARCH RESOURCES INCcl a	$1,353,120	–	12,000	–	1.04%	–
	New	CRANE COMPANY	$1,336,800	–	15,000	–	1.03%	–
PRU	New	PRUDENTIAL FINL INC	$1,288,012	–	14,600	–	0.99%	–
EAT	New	BRINKER INTL INC	$1,281,000	–	35,000	–	0.98%	–
MET	New	METLIFE INC	$1,266,272	–	22,400	–	0.97%	–
MDC	New	M D C HLDGS INC	$1,254,652	–	26,826	–	0.96%	–
FMS	New	FRESENIUS MED CARE AG&CO KGAsponsored adr	$1,234,309	–	51,580	–	0.95%	–
IVZ	New	INVESCO LTD	$1,233,854	–	73,400	–	0.95%	–
ALK	New	ALASKA AIR GROUP INC	$1,201,868	–	22,600	–	0.92%	–
CAL	New	CALERES INC	$1,196,500	–	50,000	–	0.92%	–
QCOM	New	QUALCOMM INC	$1,190,400	–	10,000	–	0.91%	–
OTEX	New	OPEN TEXT CORP	$1,175,865	–	28,300	–	0.90%	–
GILD	New	GILEAD SCIENCES INC	$1,156,050	–	15,000	–	0.89%	–
LCII	New	LCI INDS	$1,149,876	–	9,100	–	0.88%	–
HOFT	New	HOOKER FURNISHINGS CORPORATI	$1,119,600	–	60,000	–	0.86%	–
CRDA	New	CRAWFORD & COcl a	$1,109,000	–	100,000	–	0.85%	–
F	New	FORD MTR CO DEL	$1,108,575	–	73,270	–	0.85%	–
BGCP	New	BGC PARTNERS INCcl a	$1,107,500	–	250,000	–	0.85%	–
NYCB	New	NEW YORK CMNTY BANCORP INC	$1,102,644	–	98,100	–	0.85%	–
INTC	New	INTEL CORP	$1,098,838	–	32,860	–	0.84%	–
SMG	New	SCOTTS MIRACLE-GRO COcl a	$1,092,060	–	17,420	–	0.84%	–
ASO	New	ACADEMY SPORTS & OUTDOORS IN	$1,081,000	–	20,000	–	0.83%	–
PCAR	New	PACCAR INC	$1,076,576	–	12,870	–	0.83%	–
DXC	New	DXC TECHNOLOGY CO	$1,074,144	–	40,200	–	0.82%	–
TAP	New	MOLSON COORS BEVERAGE COcl b	$1,075,167	–	16,330	–	0.82%	–
ESCA	New	ESCALADE INC	$1,068,000	–	80,000	–	0.82%	–
BX	New	BLACKSTONE INC	$1,057,069	–	11,370	–	0.81%	–
SWK	New	STANLEY BLACK & DECKER INC	$1,048,615	–	11,190	–	0.80%	–
SPWH	New	SPORTSMANS WHSE HLDGS INC	$1,026,000	–	180,000	–	0.79%	–
MGA	New	MAGNA INTL INC	$1,015,920	–	18,000	–	0.78%	–
CMCSA	New	COMCAST CORP NEWcl a	$1,002,602	–	24,130	–	0.77%	–
VTRS	New	VIATRIS INC	$998,000	–	100,000	–	0.77%	–
PDCO	New	PATTERSON COS INC	$994,474	–	29,900	–	0.76%	–
OMC	New	OMNICOM GROUP INC	$990,512	–	10,410	–	0.76%	–
GES	New	GUESS INC	$972,500	–	50,000	–	0.75%	–
MDT	New	MEDTRONIC PLC	$959,409	–	10,890	–	0.74%	–
TNL	New	TRAVEL PLUS LEISURE CO	$946,780	–	23,470	–	0.73%	–
RILY	New	B. RILEY FINANCIAL INC	$942,590	–	20,500	–	0.72%	–
LYB	New	LYONDELLBASELL INDUSTRIES N	$938,503	–	10,220	–	0.72%	–
GLW	New	CORNING INC	$928,210	–	26,490	–	0.71%	–
CSCO	New	CISCO SYS INC	$922,007	–	17,820	–	0.71%	–
MCFT	New	MASTERCRAFT BOAT HLDGS INC	$919,500	–	30,000	–	0.71%	–
UTHR	New	UNITED THERAPEUTICS CORP DEL	$905,075	–	4,100	–	0.70%	–
GM	New	GENERAL MTRS CO	$898,448	–	23,300	–	0.69%	–
HAS	New	HASBRO INC	$897,065	–	13,850	–	0.69%	–
DOW	New	DOW INC	$894,235	–	16,790	–	0.69%	–
MFC	New	MANULIFE FINL CORP	$887,635	–	46,940	–	0.68%	–
EMN	New	EASTMAN CHEM CO	$866,502	–	10,350	–	0.66%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$863,985	–	4,820	–	0.66%	–
DENN	New	DENNYS CORP	$862,400	–	70,000	–	0.66%	–
C	New	CITIGROUP INC	$858,186	–	18,640	–	0.66%	–
R	New	RYDER SYS INC	$858,923	–	10,130	–	0.66%	–
BBY	New	BEST BUY INC	$857,197	–	10,460	–	0.66%	–
MS	New	MORGAN STANLEY	$848,022	–	9,930	–	0.65%	–
	New	CRANE NXT CO	$846,600	–	15,000	–	0.65%	–
BEN	New	FRANKLIN RESOURCES INC	$844,303	–	31,610	–	0.65%	–
AXS	New	AXIS CAP HLDGS LTD	$839,210	–	15,590	–	0.64%	–
ENR	New	ENERGIZER HLDGS INC NEW	$838,157	–	24,960	–	0.64%	–
MO	New	ALTRIA GROUP INC	$833,973	–	18,410	–	0.64%	–
VSTO	New	VISTA OUTDOOR INC	$830,100	–	30,000	–	0.64%	–
CBRL	New	CRACKER BARREL OLD CTRY STOR	$818,120	–	8,780	–	0.63%	–
MAN	New	MANPOWERGROUP INC WIS	$807,498	–	10,170	–	0.62%	–
KSS	New	KOHLS CORP	$806,750	–	35,000	–	0.62%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$801,522	–	5,990	–	0.62%	–
VZ	New	VERIZON COMMUNICATIONS INC	$792,147	–	21,300	–	0.61%	–
LEVI	New	LEVI STRAUSS & CO NEW	$789,032	–	54,680	–	0.61%	–
TTE	New	TOTALENERGIES SEsponsored ads	$776,411	–	13,470	–	0.60%	–
LEG	New	LEGGETT & PLATT INC	$774,267	–	26,140	–	0.59%	–
IP	New	INTERNATIONAL PAPER CO	$769,166	–	24,180	–	0.59%	–
CNA	New	CNA FINL CORP	$766,993	–	19,860	–	0.59%	–
CTG	New	COMPUTER TASK GROUP INC	$761,000	–	100,000	–	0.58%	–
RIO	New	RIO TINTO PLCsponsored adr	$758,419	–	11,880	–	0.58%	–
SCVL	New	SHOE CARNIVAL INC	$751,360	–	32,000	–	0.58%	–
COP	New	CONOCOPHILLIPS	$744,956	–	7,190	–	0.57%	–
KHC	New	KRAFT HEINZ CO	$736,625	–	20,750	–	0.56%	–
TSQ	New	TOWNSQUARE MEDIA INCcl a	$714,600	–	60,000	–	0.55%	–
WU	New	WESTERN UN CO	$712,128	–	60,710	–	0.55%	–
AMGN	New	AMGEN INC	$712,684	–	3,210	–	0.55%	–
D	New	DOMINION ENERGY INC	$706,416	–	13,640	–	0.54%	–
MMM	New	3M CO	$703,633	–	7,030	–	0.54%	–
AMCR	New	AMCOR PLCord	$703,291	–	70,470	–	0.54%	–
NFG	New	NATIONAL FUEL GAS CO	$676,925	–	13,180	–	0.52%	–
MKSI	New	MKS INSTRS INC	$648,600	–	6,000	–	0.50%	–
WBA	New	WALGREENS BOOTS ALLIANCE INC	$645,299	–	22,650	–	0.50%	–
ADS	New	BREAD FINANCIAL HOLDINGS INC	$640,356	–	20,400	–	0.49%	–
OGN	New	ORGANON & CO	$625,341	–	30,050	–	0.48%	–
FL	New	FOOT LOCKER INC	$617,295	–	22,770	–	0.47%	–
HBB	New	HAMILTON BEACH BRANDS HLDG C	$579,600	–	60,000	–	0.44%	–
NWL	New	NEWELL BRANDS INC	$559,932	–	64,360	–	0.43%	–
SGA	New	SAGA COMMUNICATIONS INCcl a new	$534,000	–	25,000	–	0.41%	–
ACCO	New	ACCO BRANDS CORP	$521,000	–	100,000	–	0.40%	–
AAP	New	ADVANCE AUTO PARTS INC	$405,631	–	5,770	–	0.31%	–
BIG	New	BIG LOTS INC	$353,200	–	40,000	–	0.27%	–
AMCX	New	AMC NETWORKS INCcl a	$239,000	–	20,000	–	0.18%	–

Q4 2022

			Value		Shares		↓ Weighting
	Exit	HALEON PLCspon ads	$0	–	-23,130	–	-0.14%	–
AMCX	Exit	AMC NETWORKS INCcl a	$0	–	-20,000	–	-0.40%	–
HBI	Exit	HANESBRANDS INC	$0	–	-61,000	–	-0.42%	–
GSIT	Exit	GSI TECHNOLOGY INC	$0	–	-150,000	–	-0.42%	–
TSQ	Exit	TOWNSQUARE MEDIA INCcl a	$0	–	-60,000	–	-0.43%	–
ACCO	Exit	ACCO BRANDS CORP	$0	–	-100,000	–	-0.48%	–
JHG	Exit	JANUS HENDERSON GROUP PLC	$0	–	-24,220	–	-0.48%	–
MKSI	Exit	MKS INSTRS INC	$0	–	-6,000	–	-0.49%	–
MDC	Exit	M D C HLDGS INC	$0	–	-18,266	–	-0.49%	–
INTC	Exit	INTEL CORP	$0	–	-20,000	–	-0.51%	–
DLX	Exit	DELUXE CORP	$0	–	-31,770	–	-0.52%	–
JOAN	Exit	JOANN INC	$0	–	-80,000	–	-0.52%	–
	Exit	GSK PLCsponsored adr	$0	–	-18,504	–	-0.54%	–
MCY	Exit	MERCURY GENL CORP NEW	$0	–	-19,300	–	-0.54%	–
MCFT	Exit	MASTERCRAFT BOAT HLDGS INC	$0	–	-30,000	–	-0.56%	–
CRDA	Exit	CRAWFORD & COcl a	$0	–	-100,000	–	-0.56%	–
XRX	Exit	XEROX HOLDINGS CORP	$0	–	-44,700	–	-0.58%	–
ARCH	Exit	ARCH RESOURCES INCcl a	$0	–	-5,000	–	-0.58%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE INC	$0	–	-19,620	–	-0.60%	–
BIG	Exit	BIG LOTS INC	$0	–	-40,000	–	-0.61%	–
VIAC	Exit	PARAMOUNT GLOBAL	$0	–	-32,780	–	-0.61%	–
CWH	Exit	CAMPING WORLD HLDGS INCcl a	$0	–	-24,980	–	-0.62%	–
MMM	Exit	3M CO	$0	–	-5,740	–	-0.62%	–
BBY	Exit	BEST BUY INC	$0	–	-10,020	–	-0.62%	–
TNL	Exit	TRAVEL PLUS LEISURE CO	$0	–	-18,610	–	-0.62%	–
ADS	Exit	BREAD FINANCIAL HOLDINGS INC	$0	–	-20,400	–	-0.63%	–
PKX	Exit	POSCO HOLDINGS INCsponsored adr	$0	–	-17,560	–	-0.63%	–
ENR	Exit	ENERGIZER HLDGS INC NEW	$0	–	-25,870	–	-0.64%	–
SGA	Exit	SAGA COMMUNICATIONS INCcl a new	$0	–	-25,000	–	-0.64%	–
NWL	Exit	NEWELL BRANDS INC	$0	–	-47,100	–	-0.64%	–
DENN	Exit	DENNYS CORP	$0	–	-70,000	–	-0.65%	–
CTG	Exit	COMPUTER TASK GROUP INC	$0	–	-100,000	–	-0.66%	–
IP	Exit	INTERNATIONAL PAPER CO	$0	–	-21,850	–	-0.68%	–
NEM	Exit	NEWMONT CORP	$0	–	-16,560	–	-0.68%	–
HBB	Exit	HAMILTON BEACH BRANDS HLDG C	$0	–	-60,000	–	-0.69%	–
FNF	Exit	FIDELITY NATIONAL FINANCIAL	$0	–	-19,610	–	-0.70%	–
NYCB	Exit	NEW YORK CMNTY BANCORP INC	$0	–	-83,540	–	-0.70%	–
CBRL	Exit	CRACKER BARREL OLD CTRY STOR	$0	–	-7,800	–	-0.71%	–
VSTO	Exit	VISTA OUTDOOR INC	$0	–	-30,000	–	-0.72%	–
GES	Exit	GUESS INC	$0	–	-50,000	–	-0.72%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-19,520	–	-0.73%	–
GM	Exit	GENERAL MTRS CO	$0	–	-23,300	–	-0.74%	–
BKE	Exit	BUCKLE INC	$0	–	-24,110	–	-0.75%	–
WU	Exit	WESTERN UN CO	$0	–	-56,570	–	-0.75%	–
HMC	Exit	HONDA MOTOR LTD	$0	–	-36,110	–	-0.77%	–
BGCP	Exit	BGC PARTNERS INCcl a	$0	–	-250,000	–	-0.77%	–
DOW	Exit	DOW INC	$0	–	-18,100	–	-0.78%	–
ESCA	Exit	ESCALADE INC	$0	–	-80,000	–	-0.78%	–
HOFT	Exit	HOOKER FURNISHINGS CORPORATI	$0	–	-60,000	–	-0.80%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N	$0	–	-11,000	–	-0.81%	–
LEG	Exit	LEGGETT & PLATT INC	$0	–	-25,070	–	-0.82%	–
RIO	Exit	RIO TINTO PLCsponsored adr	$0	–	-15,270	–	-0.83%	–
MGA	Exit	MAGNA INTL INC	$0	–	-18,000	–	-0.84%	–
UTHR	Exit	UNITED THERAPEUTICS CORP DEL	$0	–	-4,100	–	-0.84%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-21,580	–	-0.86%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-13,920	–	-0.86%	–
KSS	Exit	KOHLS CORP	$0	–	-35,000	–	-0.86%	–
MSM	Exit	MSC INDL DIRECT INCcl a	$0	–	-12,150	–	-0.87%	–
ALK	Exit	ALASKA AIR GROUP INC	$0	–	-22,600	–	-0.87%	–
UMPQ	Exit	UMPQUA HLDGS CORP	$0	–	-53,010	–	-0.89%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-7,630	–	-0.89%	–
CAJ	Exit	CANON INCsponsored adr	$0	–	-41,800	–	-0.90%	–
RILY	Exit	B. RILEY FINANCIAL INC	$0	–	-20,500	–	-0.90%	–
AMCR	Exit	AMCOR PLCord	$0	–	-85,280	–	-0.90%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-15,000	–	-0.91%	–
AXS	Exit	AXIS CAP HLDGS LTD	$0	–	-18,830	–	-0.91%	–
R	Exit	RYDER SYS INC	$0	–	-12,370	–	-0.92%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-28,800	–	-0.94%	–
TKR	Exit	TIMKEN CO	$0	–	-16,600	–	-0.96%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-40,200	–	-0.97%	–
IVZ	Exit	INVESCO LTD	$0	–	-73,400	–	-0.99%	–
ABBV	Exit	ABBVIE INC	$0	–	-7,530	–	-0.99%	–
AMGN	Exit	AMGEN INC	$0	–	-4,500	–	-1.00%	–
KBH	Exit	KB HOME	$0	–	-40,000	–	-1.02%	–
TAP	Exit	MOLSON COORS BEVERAGE COcl b	$0	–	-22,220	–	-1.05%	–
STRA	Exit	STRATEGIC ED INC	$0	–	-17,490	–	-1.06%	–
WHR	Exit	WHIRLPOOL CORP	$0	–	-8,000	–	-1.06%	–
LMT	Exit	LOCKHEED MARTIN CORP	$0	–	-2,880	–	-1.09%	–
QCOM	Exit	QUALCOMM INC	$0	–	-10,000	–	-1.11%	–
TPX	Exit	TEMPUR SEALY INTL INC	$0	–	-50,000	–	-1.18%	–
CAL	Exit	CALERES INC	$0	–	-50,000	–	-1.19%	–
PRU	Exit	PRUDENTIAL FINL INC	$0	–	-14,600	–	-1.23%	–
EOG	Exit	EOG RES INC	$0	–	-11,440	–	-1.26%	–
ARW	Exit	ARROW ELECTRS INC	$0	–	-14,000	–	-1.27%	–
CAH	Exit	CARDINAL HEALTH INC	$0	–	-19,550	–	-1.28%	–
BC	Exit	BRUNSWICK CORP	$0	–	-20,000	–	-1.29%	–
	Exit	CRANE HLDGS CO	$0	–	-15,000	–	-1.29%	–
SPWH	Exit	SPORTSMANS WHSE HLDGS INC	$0	–	-160,000	–	-1.30%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-14,000	–	-1.32%	–
MET	Exit	METLIFE INC	$0	–	-22,400	–	-1.34%	–
DFS	Exit	DISCOVER FINL SVCS	$0	–	-15,000	–	-1.34%	–
AAPL	Exit	APPLE INC	$0	–	-10,000	–	-1.36%	–
SFM	Exit	SPROUTS FMRS MKT INC	$0	–	-50,000	–	-1.36%	–
AL	Exit	AIR LEASE CORPcl a	$0	–	-45,000	–	-1.37%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-16,670	–	-1.43%	–
TEX	Exit	TEREX CORP NEW	$0	–	-50,000	–	-1.46%	–
AOSL	Exit	ALPHA & OMEGA SEMICONDUCTOR	$0	–	-50,000	–	-1.51%	–
UNM	Exit	UNUM GROUP	$0	–	-41,510	–	-1.58%	–
ACU	Exit	ACME UTD CORP	$0	–	-70,000	–	-1.58%	–
OI	Exit	O-I GLASS INC	$0	–	-130,200	–	-1.66%	–
VTRS	Exit	VIATRIS INC	$0	–	-200,000	–	-1.67%	–
EAT	Exit	BRINKER INTL INC	$0	–	-70,000	–	-1.72%	–
CI	Exit	CIGNA CORP NEW	$0	–	-6,500	–	-1.77%	–
HRB	Exit	BLOCK H & R INC	$0	–	-43,290	–	-1.81%	–
FDX	Exit	FEDEX CORP	$0	–	-14,000	–	-2.04%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-30,000	–	-2.10%	–
MCK	Exit	MCKESSON CORP	$0	–	-7,500	–	-2.50%	–

Q3 2022

			Value		Shares		↓ Weighting
FDX	Buy	FEDEX CORP	$2,079,000	+52.9%	14,000	+133.3%	2.04%	+64.0%
GOOGL	Buy	ALPHABET INCcap stk cl a	$1,339,000	-12.2%	14,000	+1900.0%	1.32%	-5.8%
SPWH	Buy	SPORTSMANS WHSE HLDGS INC	$1,328,000	+73.1%	160,000	+100.0%	1.30%	+85.8%
KSS	New	KOHLS CORP	$880,000	–	35,000	–	0.86%	–
GES	New	GUESS INC	$734,000	–	50,000	–	0.72%	–
HBB	New	HAMILTON BEACH BRANDS HLDG C	$700,000	–	60,000	–	0.69%	–
BIG	Sell	BIG LOTS INC	$624,000	-60.3%	40,000	-46.7%	0.61%	-57.4%
	New	GSK PLCsponsored adr	$545,000	–	18,504	–	0.54%	–
	New	HALEON PLCspon ads	$141,000	–	23,130	–	0.14%	–
GSK	Exit	GSK PLCsponsored adr	$0	–	-23,130	–	-0.92%	–
USAK	Exit	USA TRUCK INC	$0	–	-50,000	–	-1.44%	–

Q2 2022

			Value		Shares		↓ Weighting
MCK	New	MCKESSON CORP	$2,447,000	–	7,500	–	2.24%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$2,310,000	–	30,000	–	2.12%	–
ACU	New	ACME UTD CORP	$2,217,000	–	70,000	–	2.03%	–
VTRS	New	VIATRIS INC	$2,094,000	–	200,000	–	1.92%	–
OI	New	O-I GLASS INC	$1,823,000	–	130,200	–	1.67%	–
CI	New	CIGNA CORP NEW	$1,713,000	–	6,500	–	1.57%	–
AOSL	New	ALPHA & OMEGA SEMICONDUCTOR	$1,667,000	–	50,000	–	1.53%	–
BIG	New	BIG LOTS INC	$1,573,000	–	75,000	–	1.44%	–
USAK	New	USA TRUCK INC	$1,571,000	–	50,000	–	1.44%	–
ARW	New	ARROW ELECTRS INC	$1,569,000	–	14,000	–	1.44%	–
EAT	New	BRINKER INTL INC	$1,542,000	–	70,000	–	1.41%	–
HRB	New	BLOCK H & R INC	$1,529,000	–	43,290	–	1.40%	–
GOOGL	New	ALPHABET INCcap stk cl a	$1,525,000	–	700	–	1.40%	–
AL	New	AIR LEASE CORPcl a	$1,504,000	–	45,000	–	1.38%	–
XOM	New	EXXON MOBIL CORP	$1,428,000	–	16,670	–	1.31%	–
DFS	New	DISCOVER FINL SVCS	$1,419,000	–	15,000	–	1.30%	–
UNM	New	UNUM GROUP	$1,412,000	–	41,510	–	1.29%	–
MET	New	METLIFE INC	$1,407,000	–	22,400	–	1.29%	–
PRU	New	PRUDENTIAL FINL INC	$1,397,000	–	14,600	–	1.28%	–
TEX	New	TEREX CORP NEW	$1,369,000	–	50,000	–	1.25%	–
AAPL	New	APPLE INC	$1,367,000	–	10,000	–	1.25%	–
FDX	New	FEDEX CORP	$1,360,000	–	6,000	–	1.24%	–
	New	CRANE HLDGS CO	$1,313,000	–	15,000	–	1.20%	–
CAL	New	CALERES INC	$1,312,000	–	50,000	–	1.20%	–
BC	New	BRUNSWICK CORP	$1,308,000	–	20,000	–	1.20%	–
QCOM	New	QUALCOMM INC	$1,277,000	–	10,000	–	1.17%	–
SFM	New	SPROUTS FMRS MKT INC	$1,266,000	–	50,000	–	1.16%	–
EOG	New	EOG RES INC	$1,263,000	–	11,440	–	1.16%	–
WHR	New	WHIRLPOOL CORP	$1,239,000	–	8,000	–	1.13%	–
LMT	New	LOCKHEED MARTIN CORP	$1,238,000	–	2,880	–	1.13%	–
STRA	New	STRATEGIC ED INC	$1,234,000	–	17,490	–	1.13%	–
DXC	New	DXC TECHNOLOGY CO	$1,218,000	–	40,200	–	1.12%	–
TAP	New	MOLSON COORS BEVERAGE COcl b	$1,211,000	–	22,220	–	1.11%	–
IVZ	New	INVESCO LTD	$1,184,000	–	73,400	–	1.08%	–
ABBV	New	ABBVIE INC	$1,153,000	–	7,530	–	1.06%	–
KBH	New	KB HOME	$1,138,000	–	40,000	–	1.04%	–
KHC	New	KRAFT HEINZ CO	$1,098,000	–	28,800	–	1.00%	–
AMGN	New	AMGEN INC	$1,095,000	–	4,500	–	1.00%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$1,077,000	–	7,630	–	0.99%	–
AXS	New	AXIS CAP HLDGS LTD	$1,075,000	–	18,830	–	0.98%	–
TPX	New	TEMPUR SEALY INTL INC	$1,069,000	–	50,000	–	0.98%	–
AMCR	New	AMCOR PLCord	$1,060,000	–	85,280	–	0.97%	–
ESCA	New	ESCALADE INC	$1,039,000	–	80,000	–	0.95%	–
CAH	New	CARDINAL HEALTH INC	$1,022,000	–	19,550	–	0.94%	–
GSK	New	GSK PLCsponsored adr	$1,007,000	–	23,130	–	0.92%	–
VZ	New	VERIZON COMMUNICATIONS INC	$991,000	–	19,520	–	0.91%	–
MGA	New	MAGNA INTL INC	$988,000	–	18,000	–	0.90%	–
NEM	New	NEWMONT CORP	$988,000	–	16,560	–	0.90%	–
UTHR	New	UNITED THERAPEUTICS CORP DEL	$966,000	–	4,100	–	0.88%	–
LYB	New	LYONDELLBASELL INDUSTRIES N	$962,000	–	11,000	–	0.88%	–
CAJ	New	CANON INCsponsored adr	$949,000	–	41,800	–	0.87%	–
DOW	New	DOW INC	$934,000	–	18,100	–	0.86%	–
HOFT	New	HOOKER FURNISHINGS CORPORATI	$933,000	–	60,000	–	0.85%	–
WU	New	WESTERN UN CO	$932,000	–	56,570	–	0.85%	–
RIO	New	RIO TINTO PLCsponsored adr	$931,000	–	15,270	–	0.85%	–
GILD	New	GILEAD SCIENCES INC	$927,000	–	15,000	–	0.85%	–
IP	New	INTERNATIONAL PAPER CO	$914,000	–	21,850	–	0.84%	–
MSM	New	MSC INDL DIRECT INCcl a	$913,000	–	12,150	–	0.84%	–
ALK	New	ALASKA AIR GROUP INC	$905,000	–	22,600	–	0.83%	–
MO	New	ALTRIA GROUP INC	$901,000	–	21,580	–	0.82%	–
NWL	New	NEWELL BRANDS INC	$897,000	–	47,100	–	0.82%	–
UMPQ	New	UMPQUA HLDGS CORP	$889,000	–	53,010	–	0.81%	–
OMC	New	OMNICOM GROUP INC	$885,000	–	13,920	–	0.81%	–
TKR	New	TIMKEN CO	$881,000	–	16,600	–	0.81%	–
R	New	RYDER SYS INC	$879,000	–	12,370	–	0.80%	–
HMC	New	HONDA MOTOR LTD	$872,000	–	36,110	–	0.80%	–
LEG	New	LEGGETT & PLATT INC	$867,000	–	25,070	–	0.79%	–
RILY	New	B. RILEY FINANCIAL INC	$866,000	–	20,500	–	0.79%	–
CTG	New	COMPUTER TASK GROUP INC	$856,000	–	100,000	–	0.78%	–
MCY	New	MERCURY GENL CORP NEW	$855,000	–	19,300	–	0.78%	–
BGCP	New	BGC PARTNERS INCcl a	$843,000	–	250,000	–	0.77%	–
VSTO	New	VISTA OUTDOOR INC	$837,000	–	30,000	–	0.77%	–
VIAC	New	PARAMOUNT GLOBAL	$809,000	–	32,780	–	0.74%	–
PKX	New	POSCO HOLDINGS INCsponsored adr	$782,000	–	17,560	–	0.72%	–
CRDA	New	CRAWFORD & COcl a	$780,000	–	100,000	–	0.71%	–
SPWH	New	SPORTSMANS WHSE HLDGS INC	$767,000	–	80,000	–	0.70%	–
NYCB	New	NEW YORK CMNTY BANCORP INC	$763,000	–	83,540	–	0.70%	–
ADS	New	BREAD FINANCIAL HOLDINGS INC	$756,000	–	20,400	–	0.69%	–
INTC	New	INTEL CORP	$748,000	–	20,000	–	0.68%	–
WBA	New	WALGREENS BOOTS ALLIANCE INC	$744,000	–	19,620	–	0.68%	–
MMM	New	3M CO	$743,000	–	5,740	–	0.68%	–
GM	New	GENERAL MTRS CO	$740,000	–	23,300	–	0.68%	–
ENR	New	ENERGIZER HLDGS INC NEW	$733,000	–	25,870	–	0.67%	–
FNF	New	FIDELITY NATIONAL FINANCIAL	$725,000	–	19,610	–	0.66%	–
TNL	New	TRAVEL PLUS LEISURE CO	$722,000	–	18,610	–	0.66%	–
ARCH	New	ARCH RESOURCES INCcl a	$715,000	–	5,000	–	0.66%	–
DLX	New	DELUXE CORP	$688,000	–	31,770	–	0.63%	–
BKE	New	BUCKLE INC	$668,000	–	24,110	–	0.61%	–
XRX	New	XEROX HOLDINGS CORP	$664,000	–	44,700	–	0.61%	–
BBY	New	BEST BUY INC	$653,000	–	10,020	–	0.60%	–
ACCO	New	ACCO BRANDS CORP	$653,000	–	100,000	–	0.60%	–
CBRL	New	CRACKER BARREL OLD CTRY STOR	$651,000	–	7,800	–	0.60%	–
MCFT	New	MASTERCRAFT BOAT HLDGS INC	$632,000	–	30,000	–	0.58%	–
HBI	New	HANESBRANDS INC	$628,000	–	61,000	–	0.58%	–
SGA	New	SAGA COMMUNICATIONS INCcl a new	$621,000	–	25,000	–	0.57%	–
JOAN	New	JOANN INC	$620,000	–	80,000	–	0.57%	–
MKSI	New	MKS INSTRS INC	$616,000	–	6,000	–	0.56%	–
DENN	New	DENNYS CORP	$608,000	–	70,000	–	0.56%	–
MDC	New	M D C HLDGS INC	$590,000	–	18,266	–	0.54%	–
AMCX	New	AMC NETWORKS INCcl a	$582,000	–	20,000	–	0.53%	–
JHG	New	JANUS HENDERSON GROUP PLC	$569,000	–	24,220	–	0.52%	–
CWH	New	CAMPING WORLD HLDGS INCcl a	$539,000	–	24,980	–	0.49%	–
GSIT	New	GSI TECHNOLOGY INC	$518,000	–	150,000	–	0.47%	–
TSQ	New	TOWNSQUARE MEDIA INCcl a	$491,000	–	60,000	–	0.45%	–

Q4 2021

			Value		Shares		↓ Weighting
DENN	Exit	DENNYS CORP	$0	–	-25,000	–	-0.35%	–
SGA	Exit	SAGA COMMUNICATIONS INCcl a new	$0	–	-25,000	–	-0.48%	–
MTOR	Exit	MERITOR INC	$0	–	-30,000	–	-0.54%	–
JOAN	Exit	JOANN INC	$0	–	-60,000	–	-0.57%	–
UTHR	Exit	UNITED THERAPEUTICS CORP DEL	$0	–	-4,100	–	-0.65%	–
GSIT	Exit	GSI TECHNOLOGY INC	$0	–	-150,000	–	-0.68%	–
CTG	Exit	COMPUTER TASK GROUP INC	$0	–	-100,000	–	-0.68%	–
ACCO	Exit	ACCO BRANDS CORP	$0	–	-100,000	–	-0.73%	–
CNR	Exit	CORNERSTONE BLDG BRANDS INC	$0	–	-59,100	–	-0.74%	–
XRX	Exit	XEROX HOLDINGS CORP	$0	–	-43,700	–	-0.75%	–
HOFT	Exit	HOOKER FURNISHINGS CORPORATI	$0	–	-32,700	–	-0.75%	–
RIO	Exit	RIO TINTO PLCsponsored adr	$0	–	-13,300	–	-0.76%	–
CRDA	Exit	CRAWFORD & COcl a	$0	–	-100,000	–	-0.76%	–
CAH	Exit	CARDINAL HEALTH INC	$0	–	-18,700	–	-0.79%	–
AMCX	Exit	AMC NETWORKS INCcl a	$0	–	-20,000	–	-0.80%	–
AMGN	Exit	AMGEN INC	$0	–	-4,400	–	-0.80%	–
MSM	Exit	MSC INDL DIRECT INCcl a	$0	–	-11,800	–	-0.81%	–
T	Exit	AT&T INC	$0	–	-35,100	–	-0.81%	–
LMT	Exit	LOCKHEED MARTIN CORP	$0	–	-2,800	–	-0.82%	–
ABBV	Exit	ABBVIE INC	$0	–	-9,300	–	-0.86%	–
FLEX	Exit	FLEX LTDord	$0	–	-56,900	–	-0.86%	–
PPL	Exit	PPL CORP	$0	–	-36,200	–	-0.86%	–
HSBC	Exit	HSBC HLDGS PLCspon adr new	$0	–	-38,600	–	-0.86%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-26,500	–	-0.86%	–
LEG	Exit	LEGGETT & PLATT INC	$0	–	-22,600	–	-0.86%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N	$0	–	-11,000	–	-0.88%	–
MDC	Exit	M D C HLDGS INC	$0	–	-22,196	–	-0.88%	–
NWL	Exit	NEWELL BRANDS INC	$0	–	-47,100	–	-0.89%	–
DOW	Exit	DOW INC	$0	–	-18,100	–	-0.89%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-15,000	–	-0.89%	–
USAK	Exit	USA TRUCK INC	$0	–	-69,200	–	-0.90%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-28,800	–	-0.90%	–
INTC	Exit	INTEL CORP	$0	–	-20,000	–	-0.91%	–
MCY	Exit	MERCURY GENL CORP NEW	$0	–	-19,300	–	-0.92%	–
TRTN	Exit	TRITON INTL LTDcl a	$0	–	-20,700	–	-0.92%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-24,500	–	-0.95%	–
UNM	Exit	UNUM GROUP	$0	–	-44,600	–	-0.95%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-8,050	–	-0.95%	–
IP	Exit	INTERNATIONAL PAPER CO	$0	–	-20,100	–	-0.96%	–
VTRS	Exit	VIATRIS INC	$0	–	-85,000	–	-0.98%	–
TM	Exit	TOYOTA MOTOR CORP	$0	–	-6,500	–	-0.98%	–
SFM	Exit	SPROUTS FMRS MKT INC	$0	–	-50,000	–	-0.99%	–
HBI	Exit	HANESBRANDS INC	$0	–	-68,200	–	-1.00%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-16,200	–	-1.00%	–
ORI	Exit	OLD REP INTL CORP	$0	–	-51,200	–	-1.01%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE INC	$0	–	-25,400	–	-1.02%	–
GPC	Exit	GENUINE PARTS CO	$0	–	-10,000	–	-1.03%	–
CSCO	Exit	CISCO SYS INC	$0	–	-22,500	–	-1.04%	–
EAT	Exit	BRINKER INTL INC	$0	–	-25,000	–	-1.04%	–
UGI	Exit	UGI CORP NEW	$0	–	-29,000	–	-1.05%	–
DLX	Exit	DELUXE CORP	$0	–	-35,400	–	-1.08%	–
NFG	Exit	NATIONAL FUEL GAS CO	$0	–	-24,400	–	-1.09%	–
PFG	Exit	PRINCIPAL FINANCIAL GROUP IN	$0	–	-20,500	–	-1.13%	–
R	Exit	RYDER SYS INC	$0	–	-16,000	–	-1.13%	–
ALK	Exit	ALASKA AIR GROUP INC	$0	–	-22,600	–	-1.13%	–
UMPQ	Exit	UMPQUA HLDGS CORP	$0	–	-66,100	–	-1.14%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-40,200	–	-1.15%	–
BKE	Exit	BUCKLE INC	$0	–	-34,400	–	-1.16%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-24,000	–	-1.20%	–
MCK	Exit	MCKESSON CORP	$0	–	-7,500	–	-1.28%	–
RILY	Exit	B. RILEY FINANCIAL INC	$0	–	-25,500	–	-1.28%	–
MKSI	Exit	MKS INSTRS INC	$0	–	-10,000	–	-1.29%	–
PRU	Exit	PRUDENTIAL FINL INC	$0	–	-14,600	–	-1.31%	–
BGCP	Exit	BGC PARTNERS INCcl a	$0	–	-300,000	–	-1.33%	–
HRB	Exit	BLOCK H & R INC	$0	–	-64,500	–	-1.38%	–
PAG	Exit	PENSKE AUTOMOTIVE GRP INC	$0	–	-16,800	–	-1.44%	–
LEA	Exit	LEAR CORP	$0	–	-10,900	–	-1.46%	–
TKR	Exit	TIMKEN CO	$0	–	-26,600	–	-1.48%	–
IVZ	Exit	INVESCO LTD	$0	–	-73,400	–	-1.51%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-30,000	–	-1.51%	–
DAN	Exit	DANA INC	$0	–	-80,000	–	-1.52%	–
ARCH	Exit	ARCH RESOURCES INCcl a	$0	–	-19,300	–	-1.53%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-4,800	–	-1.55%	–
CR	Exit	CRANE CO	$0	–	-19,300	–	-1.56%	–
DFS	Exit	DISCOVER FINL SVCS	$0	–	-15,000	–	-1.57%	–
OI	Exit	O-I GLASS INC	$0	–	-130,200	–	-1.58%	–
FDX	Exit	FEDEX CORP	$0	–	-8,500	–	-1.59%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-702	–	-1.60%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-700	–	-1.60%	–
MGA	Exit	MAGNA INTL INC	$0	–	-25,000	–	-1.60%	–
MET	Exit	METLIFE INC	$0	–	-32,400	–	-1.70%	–
CI	Exit	CIGNA CORP NEW	$0	–	-10,000	–	-1.71%	–
NXST	Exit	NEXSTAR MEDIA GROUP INCcl a	$0	–	-13,500	–	-1.75%	–
ADS	Exit	ALLIANCE DATA SYSTEMS CORP	$0	–	-20,400	–	-1.76%	–
GM	Exit	GENERAL MTRS CO	$0	–	-39,300	–	-1.77%	–
AL	Exit	AIR LEASE CORPcl a	$0	–	-55,000	–	-1.84%	–
AAPL	Exit	APPLE INC	$0	–	-15,700	–	-1.90%	–
ACU	Exit	ACME UTD CORP	$0	–	-70,000	–	-1.95%	–
AOSL	Exit	ALPHA & OMEGA SEMICONDUCTOR	$0	–	-77,100	–	-2.06%	–

Q3 2021

			Value		Shares		↓ Weighting
ADS	Sell	ALLIANCE DATA SYSTEMS CORP	$2,058,000	-21.9%	20,400	-19.4%	1.76%	-7.8%
NXST	Sell	NEXSTAR MEDIA GROUP INCcl a	$2,051,000	-30.7%	13,500	-32.5%	1.75%	-18.1%
GOOG	Sell	ALPHABET INCcap stk cl c	$1,871,000	-6.9%	702	-12.5%	1.60%	+9.9%
GOOGL	Sell	ALPHABET INCcap stk cl a	$1,871,000	-4.2%	700	-12.5%	1.60%	+13.1%
OI	Sell	O-I GLASS INC	$1,858,000	-43.1%	130,200	-34.9%	1.58%	-32.8%
DFS	Sell	DISCOVER FINL SVCS	$1,843,000	-22.1%	15,000	-25.0%	1.57%	-8.0%
CR	Sell	CRANE CO	$1,830,000	-16.4%	19,300	-18.6%	1.56%	-1.3%
GS	Sell	GOLDMAN SACHS GROUP INC	$1,815,000	-31.7%	4,800	-31.4%	1.55%	-19.3%
ARCH	Sell	ARCH RESOURCES INCcl a	$1,790,000	-17.3%	19,300	-49.2%	1.53%	-2.4%
TKR	Sell	TIMKEN CO	$1,740,000	-35.9%	26,600	-21.1%	1.48%	-24.3%
DXC	Sell	DXC TECHNOLOGY CO	$1,351,000	-40.7%	40,200	-31.3%	1.15%	-29.9%
VTRS	Sell	VIATRIS INC	$1,152,000	-52.6%	85,000	-50.0%	0.98%	-44.0%
USAK	Sell	USA TRUCK INC	$1,057,000	-34.2%	69,200	-30.8%	0.90%	-22.3%
HOFT	Sell	HOOKER FURNISHINGS CORPORATI	$883,000	-49.0%	32,700	-34.6%	0.75%	-39.8%
CNR	Sell	CORNERSTONE BLDG BRANDS INC	$863,000	-60.4%	59,100	-50.8%	0.74%	-53.3%
SGA	New	SAGA COMMUNICATIONS INCcl a new	$563,000	–	25,000	–	0.48%	–
COMM	Exit	COMMSCOPE HLDG CO INC	$0	–	-102,900	–	-1.58%	–

Q2 2021

			Value		Shares		↓ Weighting
OI	New	O-I GLASS INC	$3,266,000	–	200,000	–	2.36%	–
ACU	New	ACME UTD CORP	$3,119,000	–	70,000	–	2.25%	–
NXST	New	NEXSTAR MEDIA GROUP INCcl a	$2,958,000	–	20,000	–	2.14%	–
TKR	New	TIMKEN CO	$2,716,000	–	33,700	–	1.96%	–
GS	New	GOLDMAN SACHS GROUP INC	$2,657,000	–	7,000	–	1.92%	–
ADS	New	ALLIANCE DATA SYSTEMS CORP	$2,636,000	–	25,300	–	1.90%	–
FDX	New	FEDEX CORP	$2,536,000	–	8,500	–	1.83%	–
VTRS	New	VIATRIS INC	$2,429,000	–	170,000	–	1.75%	–
CI	New	CIGNA CORP NEW	$2,371,000	–	10,000	–	1.71%	–
DFS	New	DISCOVER FINL SVCS	$2,366,000	–	20,000	–	1.71%	–
AOSL	New	ALPHA & OMEGA SEMICONDUCTOR	$2,343,000	–	77,100	–	1.69%	–
GM	New	GENERAL MTRS CO	$2,325,000	–	39,300	–	1.68%	–
MGA	New	MAGNA INTL INC	$2,316,000	–	25,000	–	1.67%	–
AL	New	AIR LEASE CORPcl a	$2,296,000	–	55,000	–	1.66%	–
DXC	New	DXC TECHNOLOGY CO	$2,278,000	–	58,500	–	1.64%	–
COMM	New	COMMSCOPE HLDG CO INC	$2,193,000	–	102,900	–	1.58%	–
CR	New	CRANE CO	$2,189,000	–	23,700	–	1.58%	–
CNR	New	CORNERSTONE BLDG BRANDS INC	$2,182,000	–	120,000	–	1.58%	–
ARCH	New	ARCH RESOURCES INCcl a	$2,165,000	–	38,000	–	1.56%	–
AAPL	New	APPLE INC	$2,150,000	–	15,700	–	1.55%	–
GOOG	New	ALPHABET INCcap stk cl c	$2,010,000	–	802	–	1.45%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$2,005,000	–	30,000	–	1.45%	–
IVZ	New	INVESCO LTD	$1,962,000	–	73,400	–	1.42%	–
GOOGL	New	ALPHABET INCcap stk cl a	$1,953,000	–	800	–	1.41%	–
MET	New	METLIFE INC	$1,939,000	–	32,400	–	1.40%	–
RILY	New	B. RILEY FINANCIAL INC	$1,925,000	–	25,500	–	1.39%	–
LEA	New	LEAR CORP	$1,911,000	–	10,900	–	1.38%	–
DAN	New	DANA INC	$1,901,000	–	80,000	–	1.37%	–
MKSI	New	MKS INSTRS INC	$1,780,000	–	10,000	–	1.28%	–
HOFT	New	HOOKER FURNITURE CORP	$1,732,000	–	50,000	–	1.25%	–
BKE	New	BUCKLE INC	$1,711,000	–	34,400	–	1.24%	–
BGCP	New	BGC PARTNERS INCcl a	$1,701,000	–	300,000	–	1.23%	–
DLX	New	DELUXE CORP	$1,691,000	–	35,400	–	1.22%	–
USAK	New	USA TRUCK INC	$1,607,000	–	100,000	–	1.16%	–
EAT	New	BRINKER INTL INC	$1,546,000	–	25,000	–	1.12%	–
HRB	New	BLOCK H & R INC	$1,514,000	–	64,500	–	1.09%	–
XOM	New	EXXON MOBIL CORP	$1,514,000	–	24,000	–	1.09%	–
PRU	New	PRUDENTIAL FINL INC	$1,496,000	–	14,600	–	1.08%	–
MCK	New	MCKESSON CORP	$1,434,000	–	7,500	–	1.04%	–
ALK	New	ALASKA AIR GROUP INC	$1,363,000	–	22,600	–	0.98%	–
UGI	New	UGI CORP NEW	$1,343,000	–	29,000	–	0.97%	–
WBA	New	WALGREENS BOOTS ALLIANCE INC	$1,336,000	–	25,400	–	0.96%	–
AMCX	New	AMC NETWORKS INCcl a	$1,336,000	–	20,000	–	0.96%	–
OMC	New	OMNICOM GROUP INC	$1,296,000	–	16,200	–	0.94%	–
PFG	New	PRINCIPAL FINANCIAL GROUP IN	$1,295,000	–	20,500	–	0.94%	–
NWL	New	NEWELL BRANDS INC	$1,294,000	–	47,100	–	0.93%	–
NFG	New	NATIONAL FUEL GAS CO	$1,275,000	–	24,400	–	0.92%	–
ORI	New	OLD REP INTL CORP	$1,275,000	–	51,200	–	0.92%	–
HBI	New	HANESBRANDS INC	$1,273,000	–	68,200	–	0.92%	–
PAG	New	PENSKE AUTOMOTIVE GRP INC	$1,268,000	–	16,800	–	0.92%	–
UNM	New	UNUM GROUP	$1,267,000	–	44,600	–	0.92%	–
GPC	New	GENUINE PARTS CO	$1,265,000	–	10,000	–	0.91%	–
MCY	New	MERCURY GENL CORP NEW	$1,254,000	–	19,300	–	0.90%	–
SFM	New	SPROUTS FMRS MKT INC	$1,243,000	–	50,000	–	0.90%	–
IP	New	INTERNATIONAL PAPER CO	$1,232,000	–	20,100	–	0.89%	–
UMPQ	New	UMPQUA HLDGS CORP	$1,220,000	–	66,100	–	0.88%	–
CSCO	New	CISCO SYS INC	$1,193,000	–	22,500	–	0.86%	–
R	New	RYDER SYS INC	$1,189,000	–	16,000	–	0.86%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$1,180,000	–	8,050	–	0.85%	–
KHC	New	KRAFT HEINZ CO	$1,174,000	–	28,800	–	0.85%	–
LEG	New	LEGGETT & PLATT INC	$1,171,000	–	22,600	–	0.84%	–
MO	New	ALTRIA GROUP INC	$1,168,000	–	24,500	–	0.84%	–
DOW	New	DOW INC	$1,145,000	–	18,100	–	0.83%	–
TM	New	TOYOTA MOTOR CORP	$1,136,000	–	6,500	–	0.82%	–
LYB	New	LYONDELLBASELL INDUSTRIES N	$1,132,000	–	11,000	–	0.82%	–
INTC	New	INTEL CORP	$1,123,000	–	20,000	–	0.81%	–
MDC	New	M D C HLDGS INC	$1,123,000	–	22,196	–	0.81%	–
RIO	New	RIO TINTO PLCsponsored adr	$1,116,000	–	13,300	–	0.81%	–
HSBC	New	HSBC HLDGS PLCspon adr new	$1,114,000	–	38,600	–	0.80%	–
TRTN	New	TRITON INTL LTDcl a	$1,083,000	–	20,700	–	0.78%	–
AMGN	New	AMGEN INC	$1,073,000	–	4,400	–	0.77%	–
CAH	New	CARDINAL HEALTH INC	$1,068,000	–	18,700	–	0.77%	–
LMT	New	LOCKHEED MARTIN CORP	$1,059,000	–	2,800	–	0.76%	–
MSM	New	MSC INDL DIRECT INCcl a	$1,059,000	–	11,800	–	0.76%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$1,055,000	–	26,500	–	0.76%	–
ABBV	New	ABBVIE INC	$1,048,000	–	9,300	–	0.76%	–
GILD	New	GILEAD SCIENCES INC	$1,033,000	–	15,000	–	0.75%	–
XRX	New	XEROX HOLDINGS CORP	$1,027,000	–	43,700	–	0.74%	–
FLEX	New	FLEX LTDord	$1,017,000	–	56,900	–	0.73%	–
PPL	New	PPL CORP	$1,013,000	–	36,200	–	0.73%	–
T	New	AT&T INC	$1,010,000	–	35,100	–	0.73%	–
CTG	New	COMPUTER TASK GROUP INC	$967,000	–	100,000	–	0.70%	–
JOAN	New	JOANN INC	$945,000	–	60,000	–	0.68%	–
CRDA	New	CRAWFORD & COcl a	$907,000	–	100,000	–	0.66%	–
ACCO	New	ACCO BRANDS CORP	$863,000	–	100,000	–	0.62%	–
GSIT	New	GSI TECHNOLOGY INC	$843,000	–	150,000	–	0.61%	–
UTHR	New	UNITED THERAPEUTICS CORP DEL	$736,000	–	4,100	–	0.53%	–
MTOR	New	MERITOR INC	$703,000	–	30,000	–	0.51%	–
DENN	New	DENNYS CORP	$412,000	–	25,000	–	0.30%	–

Q4 2020

			Value		Shares		↓ Weighting
COTY	Exit	COTY INC	$0	–	-88,400	–	-0.26%	–
DENN	Exit	DENNYS CORP	$0	–	-25,000	–	-0.27%	–
TEX	Exit	TEREX CORP NEW	$0	–	-15,000	–	-0.32%	–
CCL	Exit	CARNIVAL CORPunit 99/99/9999	$0	–	-19,200	–	-0.32%	–
RDSB	Exit	ROYAL DUTCH SHELL PLCspon adr b	$0	–	-16,400	–	-0.43%	–
UTHR	Exit	UNITED THERAPEUTICS CORP DEL	$0	–	-4,100	–	-0.45%	–
GT	Exit	GOODYEAR TIRE & RUBR CO	$0	–	-63,900	–	-0.54%	–
HSBC	Exit	HSBC HLDGS PLCspon adr new	$0	–	-25,100	–	-0.54%	–
CTG	Exit	COMPUTER TASK GROUP INC	$0	–	-100,000	–	-0.54%	–
AEG	Exit	AEGON N V	$0	–	-216,800	–	-0.61%	–
GSIT	Exit	GSI TECHNOLOGY	$0	–	-100,000	–	-0.62%	–
TPR	Exit	TAPESTRY INC	$0	–	-36,900	–	-0.63%	–
WYND	Exit	WYNDHAM DESTINATIONS INC	$0	–	-18,900	–	-0.64%	–
CAJ	Exit	CANON INCsponsored adr	$0	–	-35,900	–	-0.65%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE INC	$0	–	-16,600	–	-0.65%	–
TAP	Exit	MOLSON COORS BEVERAGE COcl b	$0	–	-18,200	–	-0.67%	–
MTOR	Exit	MERITOR INC	$0	–	-30,000	–	-0.69%	–
HOG	Exit	HARLEY DAVIDSON INC	$0	–	-26,100	–	-0.70%	–
ORI	Exit	OLD REP INTL CORP	$0	–	-43,800	–	-0.71%	–
CRDA	Exit	CRAWFORD & COcl a	$0	–	-100,000	–	-0.72%	–
F	Exit	FORD MTR CO DEL	$0	–	-105,400	–	-0.77%	–
IPG	Exit	INTERPUBLIC GROUP COS INC	$0	–	-42,500	–	-0.78%	–
T	Exit	AT&T INC	$0	–	-25,000	–	-0.78%	–
SPWH	Exit	SPORTSMANS WHSE HLDGS INC	$0	–	-50,000	–	-0.78%	–
BGCP	Exit	BGC PARTNERS INCcl a	$0	–	-300,000	–	-0.79%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N	$0	–	-10,400	–	-0.80%	–
IGT	Exit	INTERNATIONAL GAME TECHNOLOG	$0	–	-66,400	–	-0.81%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-19,600	–	-0.83%	–
MSM	Exit	MSC INDL DIRECT INCcl a	$0	–	-12,400	–	-0.86%	–
WRK	Exit	WESTROCK CO	$0	–	-22,900	–	-0.87%	–
CSCO	Exit	CISCO SYS INC	$0	–	-20,600	–	-0.89%	–
LAZ	Exit	LAZARD LTD	$0	–	-24,600	–	-0.89%	–
HNI	Exit	HNI CORP	$0	–	-26,000	–	-0.89%	–
ALK	Exit	ALASKA AIR GROUP INC	$0	–	-22,600	–	-0.91%	–
FL	Exit	FOOT LOCKER INC	$0	–	-25,300	–	-0.92%	–
IVZ	Exit	INVESCO LTD	$0	–	-73,400	–	-0.92%	–
DOW	Exit	DOW INC	$0	–	-18,100	–	-0.93%	–
NFG	Exit	NATIONAL FUEL GAS CO N J	$0	–	-21,200	–	-0.94%	–
IP	Exit	INTERNATIONAL PAPER CO	$0	–	-21,300	–	-0.95%	–
DISCA	Exit	DISCOVERY INC	$0	–	-40,000	–	-0.95%	–
NWL	Exit	NEWELL BRANDS INC	$0	–	-50,900	–	-0.96%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-7,400	–	-0.98%	–
CAH	Exit	CARDINAL HEALTH INC	$0	–	-19,400	–	-1.00%	–
GBX	Exit	GREENBRIER COS INC	$0	–	-31,000	–	-1.00%	–
COMM	Exit	COMMSCOPE HLDG CO INC	$0	–	-102,900	–	-1.01%	–
PRU	Exit	PRUDENTIAL FINL INC	$0	–	-14,600	–	-1.01%	–
PAG	Exit	PENSKE AUTOMOTIVE GRP INC	$0	–	-19,500	–	-1.02%	–
D	Exit	DOMINION ENERGY INC	$0	–	-11,800	–	-1.02%	–
FLEX	Exit	FLEX LTDord	$0	–	-84,700	–	-1.03%	–
USAK	Exit	USA TRUCK INC	$0	–	-100,000	–	-1.03%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-15,000	–	-1.04%	–
CNR	Exit	CORNERSTONE BLDG BRANDS INC	$0	–	-120,000	–	-1.05%	–
MIK	Exit	MICHAELS COS INC	$0	–	-100,000	–	-1.06%	–
ABBV	Exit	ABBVIE INC	$0	–	-11,100	–	-1.06%	–
EMN	Exit	EASTMAN CHEM CO	$0	–	-12,500	–	-1.07%	–
AMCX	Exit	AMC NETWORKS INCcl a	$0	–	-40,100	–	-1.08%	–
RIO	Exit	RIO TINTO PLCsponsored adr	$0	–	-16,500	–	-1.09%	–
RILY	Exit	B. RILEY FINANCIAL INC	$0	–	-40,000	–	-1.10%	–
INTC	Exit	INTEL CORP	$0	–	-20,000	–	-1.13%	–
PCAR	Exit	PACCAR INC	$0	–	-12,400	–	-1.16%	–
ADS	Exit	ALLIANCE DATA SYSTEMS CORP	$0	–	-25,300	–	-1.16%	–
SJM	Exit	SMUCKER J M CO	$0	–	-9,500	–	-1.20%	–
MCK	Exit	MCKESSON CORP	$0	–	-7,500	–	-1.22%	–
AVGO	Exit	BROADCOM INC	$0	–	-3,100	–	-1.24%	–
MGA	Exit	MAGNA INTL INC	$0	–	-25,000	–	-1.25%	–
DFS	Exit	DISCOVER FINL SVCS	$0	–	-20,000	–	-1.26%	–
DAN	Exit	DANA INCORPORATED	$0	–	-95,000	–	-1.28%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-800	–	-1.28%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-802	–	-1.29%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-66,300	–	-1.30%	–
LEA	Exit	LEAR CORP	$0	–	-10,900	–	-1.30%	–
MET	Exit	METLIFE INC	$0	–	-32,400	–	-1.32%	–
MDC	Exit	M D C HLDGS INC	$0	–	-25,652	–	-1.32%	–
WHR	Exit	WHIRLPOOL CORP	$0	–	-6,600	–	-1.33%	–
CR	Exit	CRANE CO	$0	–	-25,000	–	-1.37%	–
HOFT	Exit	HOOKER FURNITURE CORP	$0	–	-50,000	–	-1.41%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-8,400	–	-1.53%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-7,000	–	-1.54%	–
GM	Exit	GENERAL MTRS CO	$0	–	-49,300	–	-1.60%	–
ON	Exit	ON SEMICONDUCTOR CORP	$0	–	-70,000	–	-1.66%	–
ACU	Exit	ACME UTD CORP	$0	–	-70,000	–	-1.76%	–
ARCH	Exit	ARCH RESOURCES INCcl a	$0	–	-38,000	–	-1.77%	–
MKSI	Exit	MKS INSTRS INC	$0	–	-15,000	–	-1.79%	–
CI	Exit	CIGNA CORP NEW	$0	–	-10,000	–	-1.85%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-30,000	–	-1.98%	–
TKR	Exit	TIMKEN CO	$0	–	-35,000	–	-2.08%	–
FDX	Exit	FEDEX CORP	$0	–	-8,500	–	-2.34%	–
AOSL	Exit	ALPHA & OMEGA SEMICONDUCTOR	$0	–	-169,400	–	-2.38%	–
AL	Exit	AIR LEASE CORPcl a	$0	–	-77,600	–	-2.50%	–
OI	Exit	O-I GLASS INC	$0	–	-228,000	–	-2.64%	–
AAPL	Exit	APPLE INC	$0	–	-23,200	–	-2.94%	–

Q3 2020

			Value		Shares		↓ Weighting
AAPL	Buy	APPLE INC	$2,687,000	+16.9%	23,200	+268.3%	2.94%	+9.0%
ARCH	Buy	ARCH RESOURCES INCcl a	$1,614,000	+89.4%	38,000	+26.7%	1.77%	+76.4%
MGA	New	MAGNA INTL INC	$1,144,000	–	25,000	–	1.25%	–
INTC	New	INTEL CORP	$1,036,000	–	20,000	–	1.13%	–
MIK	Sell	MICHAELS COS INC	$966,000	-9.0%	100,000	-33.3%	1.06%	-15.2%
DOW	Sell	DOW INC	$852,000	-42.3%	18,100	-50.0%	0.93%	-46.3%
BGCP	Buy	BGC PARTNERS INCcl a	$720,000	+5.1%	300,000	+20.0%	0.79%	-2.1%
CTG	New	COMPUTER TASK GROUP INC	$497,000	–	100,000	–	0.54%	–
MCY	Exit	MERCURY GENERAL CORP	$0	–	-30,000	–	-1.44%	–

Q2 2020

			Value		Shares		↓ Weighting
AAPL	New	APPLE COMPUTER INC	$2,298,000	–	6,300	–	2.70%	–
AL	New	AIR LEASE CORPORATION CL Acl a	$2,273,000	–	77,600	–	2.67%	–
OI	New	OWENS-ILLINOIS INC	$2,047,000	–	228,000	–	2.40%	–
CI	New	CIGNA CORP	$1,877,000	–	10,000	–	2.20%	–
AOSL	New	ALPHA & OMEGA SEMICONDUCTOR	$1,843,000	–	169,400	–	2.16%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$1,764,000	–	30,000	–	2.07%	–
MKSI	New	MKS INSTRUMENTS INC	$1,699,000	–	15,000	–	2.00%	–
ACU	New	ACME UNITED CORP	$1,609,000	–	70,000	–	1.89%	–
TKR	New	TIMKEN CO	$1,592,000	–	35,000	–	1.87%	–
CR	New	CRANE CO	$1,487,000	–	25,000	–	1.75%	–
DOW	New	DOW INC	$1,476,000	–	36,200	–	1.73%	–
ON	New	ON SEMICONDUCTOR CORPORATION	$1,387,000	–	70,000	–	1.63%	–
GS	New	GOLDMAN SACHS GROUP INC	$1,383,000	–	7,000	–	1.62%	–
GM	New	GENERAL MOTORS CO	$1,247,000	–	49,300	–	1.46%	–
MCY	New	MERCURY GENERAL CORP	$1,223,000	–	30,000	–	1.44%	–
FDX	New	FEDEX CORP	$1,192,000	–	8,500	–	1.40%	–
LEA	New	LEAR CORP	$1,188,000	–	10,900	–	1.40%	–
MET	New	METLIFE INC	$1,183,000	–	32,400	–	1.39%	–
DAN	New	DANA HOLDING CORP	$1,158,000	–	95,000	–	1.36%	–
GILD	New	GILEAD SCIENCES INC	$1,154,000	–	15,000	–	1.36%	–
MCK	New	MCKESSON CORP	$1,151,000	–	7,500	–	1.35%	–
ADS	New	ALLIANCE DATA SYSTEMS CORP	$1,142,000	–	25,300	–	1.34%	–
GOOGL	New	ALPHABET INC-CL Acap stk cl a	$1,134,000	–	800	–	1.33%	–
GOOG	New	ALPHABET INC-CL Ccap stk cl c	$1,134,000	–	802	–	1.33%	–
DXC	New	DXC TECHNOLOGY COMPANY	$1,094,000	–	66,300	–	1.28%	–
ABBV	New	ABBVIE INC	$1,090,000	–	11,100	–	1.28%	–
MIK	New	MICHAELS STORES INC	$1,061,000	–	150,000	–	1.25%	–
CAH	New	CARDINAL HEALTH INC	$1,012,000	–	19,400	–	1.19%	–
SJM	New	JM SMUCKER CO/THE-NEW COMMON	$1,005,000	–	9,500	–	1.18%	–
DFS	New	DISCOVER FINANCIAL SERVICES	$1,002,000	–	20,000	–	1.18%	–
AVGO	New	BROADCOM LIMITED	$978,000	–	3,100	–	1.15%	–
HOFT	New	HOOKER FURNITURE CORP	$973,000	–	50,000	–	1.14%	–
CSCO	New	CISCO SYSTEMS INC	$961,000	–	20,600	–	1.13%	–
D	New	DOMINION RESOURCES INC/VA	$958,000	–	11,800	–	1.12%	–
AMCX	New	AMC NETWORKS INCcl a	$938,000	–	40,100	–	1.10%	–
UPS	New	UNITED PARCEL SERVICE-CL Bcl b	$934,000	–	8,400	–	1.10%	–
PCAR	New	PACCAR INC	$928,000	–	12,400	–	1.09%	–
RIO	New	RIO TINTO PLC-SPON ADRsponsored adr	$927,000	–	16,500	–	1.09%	–
MDC	New	MDC HOLDINGS INC	$916,000	–	25,652	–	1.08%	–
MSM	New	MSC INDUSTRIAL DIRECT CO-Acl a	$903,000	–	12,400	–	1.06%	–
IBM	New	INTL BUSINESS MACHINES CORP	$894,000	–	7,400	–	1.05%	–
PRU	New	PRUDENTIAL FINANCIAL INC	$889,000	–	14,600	–	1.04%	–
NFG	New	NATIONAL FUEL GAS CO	$889,000	–	21,200	–	1.04%	–
EMN	New	EASTMAN CHEMICAL COMPANY	$871,000	–	12,500	–	1.02%	–
RILY	New	B RILEY FINANCIAL INC	$870,000	–	40,000	–	1.02%	–
FLEX	New	FLEXTRONICS INTL LTDord	$868,000	–	84,700	–	1.02%	–
COMM	New	COMMSCOPE HOLDING CO INC	$857,000	–	102,900	–	1.01%	–
WHR	New	WHIRLPOOL CORP	$855,000	–	6,600	–	1.00%	–
ARCH	New	Arch Resources Inccl a	$852,000	–	30,000	–	1.00%	–
DISCA	New	DISCOVERY COMMUNICATIONS-A	$844,000	–	40,000	–	0.99%	–
ALK	New	ALASKA AIR GROUP INC	$819,000	–	22,600	–	0.96%	–
NWL	New	NEWELL BRANDS INC	$808,000	–	50,900	–	0.95%	–
HNI	New	HNI CORP	$795,000	–	26,000	–	0.93%	–
IVZ	New	INVESCO PLC-SPONSORED ADR	$790,000	–	73,400	–	0.93%	–
CRDA	New	CRAWFORD & CO -CL Acl a	$789,000	–	100,000	–	0.93%	–
USAK	New	USA TRUCK INC	$775,000	–	100,000	–	0.91%	–
MO	New	ALTRIA GROUP INC	$769,000	–	19,600	–	0.90%	–
T	New	AT&T INC	$756,000	–	25,000	–	0.89%	–
PAG	New	PENSKE AUTO GROUP INC	$755,000	–	19,500	–	0.89%	–
IP	New	INTERNATIONAL PAPER CO	$750,000	–	21,300	–	0.88%	–
FL	New	FOOT LOCKER INC	$738,000	–	25,300	–	0.87%	–
IPG	New	INTERPUBLIC GROUP OF COS INC	$729,000	–	42,500	–	0.86%	–
CNR	New	CORNERSTONE BULDING BRANDS	$727,000	–	120,000	–	0.85%	–
GSIT	New	GSI TECHNOLOGY INC	$718,000	–	100,000	–	0.84%	–
CAJ	New	CANON INC-SPONS ADRsponsored adr	$717,000	–	35,900	–	0.84%	–
ORI	New	OLD REPUBLIC INTL CORP	$714,000	–	43,800	–	0.84%	–
SPWH	New	SPORTSMAN`S WAREHOUSE HOLDIN	$713,000	–	50,000	–	0.84%	–
GBX	New	GREENBRIER COMPANIES INC	$705,000	–	31,000	–	0.83%	–
WBA	New	WALGREENS BOOTS ALLIANCE INC	$704,000	–	16,600	–	0.83%	–
LAZ	New	LAZARD LTD-CL A	$704,000	–	24,600	–	0.83%	–
BGCP	New	BGC PARTNERS INC CL Acl a	$685,000	–	250,000	–	0.80%	–
LYB	New	LYONDELLBASELL INDU-CL A	$683,000	–	10,400	–	0.80%	–
WRK	New	WESTROCK CO	$647,000	–	22,900	–	0.76%	–
F	New	FORD MOTOR CO	$641,000	–	105,400	–	0.75%	–
AEG	New	AEGON N.V.-NY REG SHR	$637,000	–	216,800	–	0.75%	–
TAP	New	MOLSON COORS BEVERAGE COcl b	$625,000	–	18,200	–	0.73%	–
HOG	New	HARLEY-DAVIDSON INC	$620,000	–	26,100	–	0.73%	–
MTOR	New	MERITOR INC	$594,000	–	30,000	–	0.70%	–
IGT	New	INTERNATIONAL GAME TECHNOLOG	$591,000	–	66,400	–	0.69%	–
HSBC	New	HSBC HOLDINGS PLC-SPONS ADRspon adr new	$586,000	–	25,100	–	0.69%	–
GT	New	GOODYEAR TIRE & RUBBER CO	$572,000	–	63,900	–	0.67%	–
WYND	New	WYNDHAM DESTINATIONS INC	$533,000	–	18,900	–	0.63%	–
RDSB	New	ROYAL DUTCH SHELL PLC ADR REPSTG B SHSspon adr b	$499,000	–	16,400	–	0.59%	–
UTHR	New	UNITED THERAPEUTICS CORP	$496,000	–	4,100	–	0.58%	–
TPR	New	TAPESTRY INC	$490,000	–	36,900	–	0.58%	–
COTY	New	COTY INC-CL A	$395,000	–	88,400	–	0.46%	–
CCL	New	CARNIVAL CORPunit 99/99/9999	$315,000	–	19,200	–	0.37%	–
TEX	New	TEREX CORP	$282,000	–	15,000	–	0.33%	–
DENN	New	DENNY'S CORPORATION	$253,000	–	25,000	–	0.30%	–

Q4 2019

			Value		Shares		↓ Weighting
BLBD	Exit	BLUE BIRD CORP	$0	–	-13,014	–	-0.23%	–
UTHR	Exit	UNITED THERAPEUTICS CORP DEL	$0	–	-4,100	–	-0.30%	–
TEN	Exit	TENNECO INC	$0	–	-27,800	–	-0.32%	–
TUP	Exit	TUPPERWARE BRANDS CORP	$0	–	-24,400	–	-0.36%	–
CTG	Exit	COMPUTER TASK GROUP INC	$0	–	-80,000	–	-0.37%	–
MCFT	Exit	MASTERCRAFT BOAT HLDGS INC	$0	–	-30,000	–	-0.41%	–
EMKR	Exit	EMCORE CORP	$0	–	-150,000	–	-0.42%	–
TLFA	Exit	TANDY LEATHER FACTORY INC	$0	–	-100,000	–	-0.43%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-17,700	–	-0.45%	–
ETM	Exit	ENTERCOM COMMUNICATIONS CORPcl a	$0	–	-150,000	–	-0.46%	–
MTOR	Exit	MERITOR INC	$0	–	-30,000	–	-0.51%	–
USAK	Exit	USA TRUCK INC	$0	–	-70,000	–	-0.52%	–
LB	Exit	L BRANDS INC	$0	–	-29,700	–	-0.53%	–
TPR	Exit	TAPESTRY INC	$0	–	-22,500	–	-0.54%	–
AXL	Exit	AMERICAN AXLE & MFG HLDGS IN	$0	–	-73,500	–	-0.55%	–
ABBV	Exit	ABBVIE INC	$0	–	-8,300	–	-0.58%	–
NFG	Exit	NATIONAL FUEL GAS CO N J	$0	–	-14,900	–	-0.64%	–
HSBC	Exit	HSBC HLDGS PLCspon adr new	$0	–	-18,400	–	-0.65%	–
OLN	Exit	OLIN CORP	$0	–	-38,200	–	-0.66%	–
MSM	Exit	MSC INDL DIRECT INCcl a	$0	–	-10,000	–	-0.66%	–
CNR	Exit	CORNERSTONE BLDG BRANDS INC	$0	–	-120,000	–	-0.67%	–
WRK	Exit	WESTROCK CO	$0	–	-20,200	–	-0.68%	–
RDSB	Exit	ROYAL DUTCH SHELL PLCspon adr b	$0	–	-12,700	–	-0.70%	–
AMGN	Exit	AMGEN INC	$0	–	-4,000	–	-0.71%	–
SPWH	Exit	SPORTSMANS WHSE HLDGS INC	$0	–	-150,000	–	-0.71%	–
IP	Exit	INTL PAPER CO	$0	–	-19,100	–	-0.73%	–
TTM	Exit	TATA MTRS LTDsponsored adr	$0	–	-95,900	–	-0.74%	–
HOG	Exit	HARLEY DAVIDSON INC	$0	–	-22,400	–	-0.74%	–
CAH	Exit	CARDINAL HEALTH INC	$0	–	-17,100	–	-0.74%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N	$0	–	-9,100	–	-0.75%	–
MS	Exit	MORGAN STANLEY	$0	–	-19,100	–	-0.75%	–
RIO	Exit	RIO TINTO PLCsponsored adr	$0	–	-15,700	–	-0.75%	–
JHG	Exit	JANUS HENDERSON GROUP PLC	$0	–	-36,800	–	-0.76%	–
AVGO	Exit	BROADCOM INC	$0	–	-3,000	–	-0.76%	–
PBCT	Exit	PEOPLES UTD FINL INC	$0	–	-53,000	–	-0.76%	–
MRLN	Exit	MARLIN BUSINESS SVCS CORP	$0	–	-33,000	–	-0.76%	–
MCY	Exit	MERCURY GENL CORP NEW	$0	–	-14,900	–	-0.76%	–
CNQ	Exit	CANADIAN NAT RES LTD	$0	–	-31,300	–	-0.76%	–
DUK	Exit	DUKE ENERGY CORP NEW	$0	–	-8,800	–	-0.77%	–
OI	Exit	OWENS ILL INC	$0	–	-82,500	–	-0.78%	–
HOFT	Exit	HOOKER FURNITURE CORP	$0	–	-40,000	–	-0.79%	–
LEG	Exit	LEGGETT & PLATT INC	$0	–	-21,000	–	-0.79%	–
TILE	Exit	INTERFACE INC	$0	–	-60,000	–	-0.79%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-11,400	–	-0.79%	–
GSIT	Exit	GSI TECHNOLOGY	$0	–	-100,000	–	-0.80%	–
WPP	Exit	WPP PLC NEWadr	$0	–	-14,000	–	-0.80%	–
COMM	Exit	COMMSCOPE HLDG CO INC	$0	–	-75,000	–	-0.81%	–
FLEX	Exit	FLEX LTDord	$0	–	-84,700	–	-0.81%	–
PAG	Exit	PENSKE AUTOMOTIVE GRP INC	$0	–	-18,800	–	-0.82%	–
COWN	Exit	COWEN INCcl a new	$0	–	-60,000	–	-0.85%	–
HUN	Exit	HUNTSMAN CORP	$0	–	-39,800	–	-0.85%	–
CMI	Exit	CUMMINS INC	$0	–	-5,700	–	-0.85%	–
HBI	Exit	HANESBRANDS INC	$0	–	-61,200	–	-0.86%	–
RILY	Exit	B RILEY FINL INC	$0	–	-40,000	–	-0.87%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-15,000	–	-0.87%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-6,100	–	-0.88%	–
CPA	Exit	COPA HOLDINGS SAcl a	$0	–	-9,800	–	-0.89%	–
WYND	Exit	WYNDHAM DESTINATIONS INC	$0	–	-21,100	–	-0.89%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-6,700	–	-0.89%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-800	–	-0.90%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-802	–	-0.90%	–
AMCX	Exit	AMC NETWORKS INCcl a	$0	–	-20,000	–	-0.90%	–
MFC	Exit	MANULIFE FINL CORP	$0	–	-53,700	–	-0.90%	–
AXS	Exit	AXIS CAPITAL HOLDINGS LTD	$0	–	-14,900	–	-0.91%	–
LEA	Exit	LEAR CORP	$0	–	-8,500	–	-0.92%	–
T	Exit	AT&T INC	$0	–	-26,700	–	-0.93%	–
MAN	Exit	MANPOWERGROUP INC	$0	–	-12,000	–	-0.93%	–
HUBB	Exit	HUBBELL INC	$0	–	-7,700	–	-0.93%	–
QCOM	Exit	QUALCOMM INC	$0	–	-13,400	–	-0.94%	–
ADS	Exit	ALLIANCE DATA SYSTEMS CORP	$0	–	-8,000	–	-0.94%	–
DISCA	Exit	DISCOVERY INC	$0	–	-40,000	–	-0.98%	–
CRDA	Exit	CRAWFORD & COcl a	$0	–	-100,000	–	-1.00%	–
WHR	Exit	WHIRLPOOL CORP	$0	–	-7,000	–	-1.02%	–
LMT	Exit	LOCKHEED MARTIN CORP	$0	–	-2,900	–	-1.04%	–
XRX	Exit	XEROX HOLDINGS CORP	$0	–	-38,700	–	-1.06%	–
FDX	Exit	FEDEX CORP	$0	–	-8,500	–	-1.13%	–
TGT	Exit	TARGET CORP	$0	–	-11,600	–	-1.14%	–
IVZ	Exit	INVESCO LTD	$0	–	-73,400	–	-1.14%	–
MDC	Exit	M D C HLDGS INC	$0	–	-29,052	–	-1.15%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-5,600	–	-1.19%	–
TEX	Exit	TEREX CORP NEW	$0	–	-50,000	–	-1.19%	–
PRU	Exit	PRUDENTIAL FINL INC	$0	–	-14,600	–	-1.20%	–
ON	Exit	ON SEMICONDUCTOR CORP	$0	–	-70,000	–	-1.23%	–
KLAC	Exit	KLA CORPORATION	$0	–	-8,500	–	-1.24%	–
DAN	Exit	DANA INCORPORATED	$0	–	-95,400	–	-1.26%	–
MKSI	Exit	MKS INSTRUMENT INC	$0	–	-15,000	–	-1.27%	–
KFY	Exit	KORN FERRY	$0	–	-36,000	–	-1.28%	–
ACU	Exit	ACME UTD CORP	$0	–	-70,000	–	-1.29%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-7,000	–	-1.33%	–
THO	Exit	THOR INDS INC	$0	–	-26,000	–	-1.35%	–
CI	Exit	CIGNA CORP NEW	$0	–	-10,000	–	-1.39%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-30,000	–	-1.40%	–
BC	Exit	BRUNSWICK CORP	$0	–	-30,000	–	-1.43%	–
MIK	Exit	MICHAELS COS INC	$0	–	-160,000	–	-1.44%	–
SWKS	Exit	SKYWORKS SOLUTIONS INC	$0	–	-20,000	–	-1.45%	–
BWA	Exit	BORGWARNER INC	$0	–	-44,400	–	-1.49%	–
CCK	Exit	CROWN HOLDINGS INC	$0	–	-25,000	–	-1.52%	–
DAL	Exit	DELTA AIR LINES INC DEL	$0	–	-30,000	–	-1.58%	–
TKR	Exit	TIMKEN CO	$0	–	-40,000	–	-1.60%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-60,000	–	-1.62%	–
MET	Exit	METLIFE INC	$0	–	-38,000	–	-1.64%	–
GM	Exit	GENERAL MTRS CO	$0	–	-49,300	–	-1.70%	–
AAPL	Exit	APPLE INC	$0	–	-8,800	–	-1.81%	–
AL	Exit	AIR LEASE CORPcl a	$0	–	-47,600	–	-1.83%	–
NCLH	Exit	NORWEGIAN CRUISE LINE HLDG L	$0	–	-41,200	–	-1.96%	–
AOSL	Exit	ALPHA & OMEGA SEMICONDUCTOR	$0	–	-208,000	–	-2.34%	–

Q3 2019

			Value		Shares		↓ Weighting
DXC	New	DXC TECHNOLOGY CO	$1,770,000	–	60,000	–	1.62%	–
CCK	Sell	CROWN HOLDINGS INC	$1,652,000	-22.8%	25,000	-28.6%	1.52%	-23.5%
MIK	Buy	MICHAELS COS INC	$1,566,000	+71.9%	160,000	+52.8%	1.44%	+70.1%
CI	New	CIGNA CORP NEW	$1,518,000	–	10,000	–	1.39%	–
XRX	New	XEROX HOLDINGS CORP	$1,158,000	–	38,700	–	1.06%	–
DISCA	Sell	DISCOVERY INC	$1,065,000	-42.2%	40,000	-33.3%	0.98%	-42.7%
TILE	New	INTERFACE INC	$866,000	–	60,000	–	0.79%	–
CNR	New	CORNERSTONE BLDG BRANDS INC	$726,000	–	120,000	–	0.67%	–
CTG	Buy	COMPUTER TASK GROUP INC	$400,000	+463.4%	80,000	+354.0%	0.37%	+456.1%
TOWR	Exit	TOWER INTL INC	$0	–	-27,000	–	-0.49%	–
XRX	Exit	XEROX CORP	$0	–	-38,700	–	-1.27%	–

Q2 2019

			Value		Shares		↓ Weighting
NCLH	New	NORWEGIAN CRUISE LINE HLDG L	$2,210,000	–	41,200	–	2.05%	–
CCK	New	CROWN HOLDINGS INC	$2,139,000	–	35,000	–	1.98%	–
TKR	New	TIMKEN CO	$2,054,000	–	40,000	–	1.90%	–
AL	New	AIR LEASE CORPcl a	$1,968,000	–	47,600	–	1.82%	–
AOSL	New	ALPHA & OMEGA SEMICONDUCTOR	$1,943,000	–	208,000	–	1.80%	–
DAN	New	DANA INCORPORATED	$1,902,000	–	95,400	–	1.76%	–
GM	New	GENERAL MTRS CO	$1,900,000	–	49,300	–	1.76%	–
MET	New	METLIFE INC	$1,887,000	–	38,000	–	1.75%	–
BWA	New	BORGWARNER INC	$1,864,000	–	44,400	–	1.73%	–
DISCA	New	DISCOVERY INC	$1,842,000	–	60,000	–	1.71%	–
AAPL	New	APPLE INC	$1,742,000	–	8,800	–	1.61%	–
DAL	New	DELTA AIR LINES INC	$1,703,000	–	30,000	–	1.58%	–
ACU	New	ACME UTD CORP	$1,581,000	–	70,000	–	1.46%	–
TEX	New	TEREX CORP NEW	$1,570,000	–	50,000	–	1.45%	–
SWKS	New	SKYWORKS SOLUTIONS INC	$1,545,000	–	20,000	–	1.43%	–
THO	New	THOR INDS INC	$1,520,000	–	26,000	–	1.41%	–
IVZ	New	INVESCO LTD	$1,502,000	–	73,400	–	1.39%	–
PRU	New	PRUDENTIAL FINL INC	$1,475,000	–	14,600	–	1.37%	–
KFY	New	KORN FERRY	$1,443,000	–	36,000	–	1.34%	–
GS	New	GOLDMAN SACHS GROUP INC	$1,432,000	–	7,000	–	1.33%	–
OI	New	OWENS ILL INC	$1,425,000	–	82,500	–	1.32%	–
ON	New	ON SEMICONDUCTOR CORP	$1,415,000	–	70,000	–	1.31%	–
FDX	New	FEDEX CORP	$1,396,000	–	8,500	–	1.29%	–
BC	New	BRUNSWICK CORP	$1,377,000	–	30,000	–	1.28%	–
XRX	New	XEROX CORP	$1,370,000	–	38,700	–	1.27%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$1,361,000	–	30,000	–	1.26%	–
LEA	New	LEAR CORP	$1,184,000	–	8,500	–	1.10%	–
COMM	New	COMMSCOPE HLDG CO INC	$1,180,000	–	75,000	–	1.09%	–
MKSI	New	MKS INSTRUMENT INC	$1,168,000	–	15,000	–	1.08%	–
MAN	New	MANPOWERGROUP INC	$1,159,000	–	12,000	–	1.07%	–
ADS	New	ALLIANCE DATA SYSTEMS CORP	$1,121,000	–	8,000	–	1.04%	–
TTM	New	TATA MTRS LTDsponsored adr	$1,120,000	–	95,900	–	1.04%	–
AMCX	New	AMC NETWORKS INCcl a	$1,090,000	–	20,000	–	1.01%	–
LMT	New	LOCKHEED MARTIN CORP	$1,054,000	–	2,900	–	0.98%	–
HBI	New	HANESBRANDS INC	$1,054,000	–	61,200	–	0.98%	–
CRDA	New	CRAWFORD & COcl a	$1,053,000	–	100,000	–	0.98%	–
LRCX	New	LAM RESEARCH CORP	$1,052,000	–	5,600	–	0.97%	–
COWN	New	COWEN INCcl a new	$1,031,000	–	60,000	–	0.96%	–
QCOM	New	QUALCOMM INC	$1,019,000	–	13,400	–	0.94%	–
GILD	New	GILEAD SCIENCES INC	$1,013,000	–	15,000	–	0.94%	–
KLAC	New	KLA-TENCOR CORP	$1,005,000	–	8,500	–	0.93%	–
TGT	New	TARGET CORP	$1,005,000	–	11,600	–	0.93%	–
HUBB	New	HUBBELL INC	$1,004,000	–	7,700	–	0.93%	–
WHR	New	WHIRLPOOL CORP	$997,000	–	7,000	–	0.92%	–
RIO	New	RIO TINTO PLCsponsored adr	$979,000	–	15,700	–	0.91%	–
CMI	New	CUMMINS INC	$977,000	–	5,700	–	0.90%	–
MFC	New	MANULIFE FINL CORP	$976,000	–	53,700	–	0.90%	–
CPA	New	COPA HOLDINGS SAcl a	$956,000	–	9,800	–	0.88%	–
MDC	New	M D C HLDGS INC	$952,000	–	29,052	–	0.88%	–
AXL	New	AMERICAN AXLE & MFG HLDGS IN	$938,000	–	73,500	–	0.87%	–
MCY	New	MERCURY GENL CORP NEW	$931,000	–	14,900	–	0.86%	–
WYND	New	WYNDHAM DESTINATIONS INC	$926,000	–	21,100	–	0.86%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$924,000	–	6,700	–	0.86%	–
ITW	New	ILLINOIS TOOL WKS INC	$920,000	–	6,100	–	0.85%	–
MIK	New	MICHAELS COS INC	$911,000	–	104,700	–	0.84%	–
T	New	AT&T INC	$895,000	–	26,700	–	0.83%	–
PM	New	PHILIP MORRIS INTL INC	$895,000	–	11,400	–	0.83%	–
PBCT	New	PEOPLES UTD FINL INC	$889,000	–	53,000	–	0.82%	–
AXS	New	AXIS CAPITAL HOLDINGS LTD	$889,000	–	14,900	–	0.82%	–
PAG	New	PENSKE AUTOMOTIVE GRP INC	$889,000	–	18,800	–	0.82%	–
WPP	New	WPP PLC NEWadr	$881,000	–	14,000	–	0.82%	–
ETM	New	ENTERCOM COMMUNICATIONS CORPcl a	$870,000	–	150,000	–	0.81%	–
GOOG	New	ALPHABET INCcap stk cl c	$867,000	–	802	–	0.80%	–
GOOGL	New	ALPHABET INCcap stk cl a	$866,000	–	800	–	0.80%	–
AVGO	New	BROADCOM INC	$864,000	–	3,000	–	0.80%	–
GSIT	New	GSI TECHNOLOGY	$857,000	–	100,000	–	0.79%	–
CNQ	New	CANADIAN NAT RES LTD	$844,000	–	31,300	–	0.78%	–
OLN	New	OLIN CORP	$837,000	–	38,200	–	0.78%	–
MS	New	MORGAN STANLEY	$837,000	–	19,100	–	0.78%	–
RDSB	New	ROYAL DUTCH SHELL PLCspon adr b	$835,000	–	12,700	–	0.77%	–
RILY	New	B RILEY FINL INC	$834,000	–	40,000	–	0.77%	–
IP	New	INTL PAPER CO	$827,000	–	19,100	–	0.77%	–
HOFT	New	HOOKER FURNITURE CORP	$825,000	–	40,000	–	0.76%	–
MRLN	New	MARLIN BUSINESS SVCS CORP	$823,000	–	33,000	–	0.76%	–
HUN	New	HUNTSMAN CORP	$814,000	–	39,800	–	0.75%	–
FLEX	New	FLEX LTDord	$811,000	–	84,700	–	0.75%	–
CAH	New	CARDINAL HEALTH INC	$805,000	–	17,100	–	0.75%	–
LEG	New	LEGGETT & PLATT INC	$806,000	–	21,000	–	0.75%	–
HOG	New	HARLEY DAVIDSON INC	$803,000	–	22,400	–	0.74%	–
JHG	New	JANUS HENDERSON GROUP PLC	$788,000	–	36,800	–	0.73%	–
NFG	New	NATIONAL FUEL GAS CO N J	$786,000	–	14,900	–	0.73%	–
LYB	New	LYONDELLBASELL INDUSTRIES N	$784,000	–	9,100	–	0.73%	–
DUK	New	DUKE ENERGY CORP NEW	$777,000	–	8,800	–	0.72%	–
LB	New	L BRANDS INC	$775,000	–	29,700	–	0.72%	–
HSBC	New	HSBC HLDGS PLCspon adr new	$768,000	–	18,400	–	0.71%	–
MSM	New	MSC INDL DIRECT INCcl a	$743,000	–	10,000	–	0.69%	–
WRK	New	WESTROCK CO	$737,000	–	20,200	–	0.68%	–
AMGN	New	AMGEN INC	$737,000	–	4,000	–	0.68%	–
MTOR	New	MERITOR INC	$728,000	–	30,000	–	0.67%	–
TPR	New	TAPESTRY INC	$714,000	–	22,500	–	0.66%	–
USAK	New	USA TRUCK INC	$708,000	–	70,000	–	0.66%	–
ABBV	New	ABBVIE INC	$604,000	–	8,300	–	0.56%	–
MCFT	New	MASTERCRAFT BOAT HLDGS INC	$588,000	–	30,000	–	0.54%	–
SPWH	New	SPORTSMANS WHSE HLDGS INC	$567,000	–	150,000	–	0.52%	–
TLFA	New	TANDY LEATHER FACTORY INC	$550,000	–	100,000	–	0.51%	–
KHC	New	KRAFT HEINZ CO	$549,000	–	17,700	–	0.51%	–
TOWR	New	TOWER INTL INC	$527,000	–	27,000	–	0.49%	–
EMKR	New	EMCORE CORP	$494,000	–	150,000	–	0.46%	–
TUP	New	TUPPERWARE BRANDS CORP	$464,000	–	24,400	–	0.43%	–
UTHR	New	UNITED THERAPEUTICS CORP DEL	$320,000	–	4,100	–	0.30%	–
TEN	New	TENNECO INC	$308,000	–	27,800	–	0.28%	–
BLBD	New	BLUE BIRD CORP	$256,000	–	13,014	–	0.24%	–
CTG	New	COMPUTER TASK GROUP INC	$71,000	–	17,621	–	0.07%	–

Q4 2018

			Value		Shares		↓ Weighting
CTG	Exit	COMPUTER TASK GROUP INC	$0	–	-17,621	–	-0.07%	–
UTHR	Exit	UNITED THERAPEUTICS CORP DEL	$0	–	-4,100	–	-0.42%	–
MTOR	Exit	MERITOR INC	$0	–	-30,000	–	-0.47%	–
GSIT	Exit	GSI TECHNOLOGY	$0	–	-100,000	–	-0.56%	–
MPAA	Exit	MOTORCAR PTS AMER INC	$0	–	-30,000	–	-0.57%	–
HZN	Exit	HORIZON GLOBAL CORP	$0	–	-100,000	–	-0.57%	–
EMKR	Exit	EMCORE CORP	$0	–	-150,000	–	-0.57%	–
GIS	Exit	GENERAL MLS INC	$0	–	-16,800	–	-0.58%	–
TLFA	Exit	TANDY LEATHER FACTORY INC	$0	–	-100,000	–	-0.59%	–
F	Exit	FORD MTR CO DEL	$0	–	-79,600	–	-0.59%	–
IGT	Exit	INTERNATIONAL GAME TECHNOLOG	$0	–	-38,000	–	-0.60%	–
CSV	Exit	CARRIAGE SVCS INC	$0	–	-35,000	–	-0.61%	–
GME	Exit	GAMESTOP CORP NEWcl a	$0	–	-50,000	–	-0.62%	–
BGCP	Exit	BGC PARTNERS INCcl a	$0	–	-66,300	–	-0.63%	–
CMI	Exit	CUMMINS INC	$0	–	-5,600	–	-0.66%	–
TOWR	Exit	TOWER INTL INC	$0	–	-27,000	–	-0.66%	–
ORBK	Exit	ORBOTECH LTDord	$0	–	-14,000	–	-0.67%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-14,000	–	-0.68%	–
IP	Exit	INTL PAPER CO	$0	–	-17,300	–	-0.68%	–
GPS	Exit	GAP INC DEL	$0	–	-29,500	–	-0.68%	–
T	Exit	AT&T INC	$0	–	-25,500	–	-0.69%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-16,300	–	-0.69%	–
CAH	Exit	CARDINAL HEALTH INC	$0	–	-16,100	–	-0.70%	–
SPWH	Exit	SPORTSMANS WHSE HLDGS INC	$0	–	-150,000	–	-0.71%	–
CRDA	Exit	CRAWFORD & COcl a	$0	–	-100,000	–	-0.72%	–
SO	Exit	SOUTHERN CO	$0	–	-20,700	–	-0.73%	–
RILY	Exit	B RILEY FINL INC	$0	–	-40,000	–	-0.73%	–
XRX	Exit	XEROX CORP	$0	–	-34,000	–	-0.74%	–
LAZ	Exit	LAZARD LTD	$0	–	-19,100	–	-0.74%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N	$0	–	-9,000	–	-0.74%	–
ADT	Exit	ADT INC	$0	–	-100,000	–	-0.76%	–
REVG	Exit	REV GROUP INC	$0	–	-60,000	–	-0.76%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-8,300	–	-0.76%	–
RIO	Exit	RIO TINTO PLCsponsored adr	$0	–	-18,500	–	-0.76%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-802	–	-0.77%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-800	–	-0.78%	–
COWN	Exit	COWEN INCcl a new	$0	–	-60,000	–	-0.79%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-8,400	–	-0.79%	–
NUE	Exit	NUCOR CORP	$0	–	-15,500	–	-0.79%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-6,500	–	-0.79%	–
AEG	Exit	AEGON N Vny registry sh	$0	–	-158,700	–	-0.82%	–
SON	Exit	SONOCO PRODS CO	$0	–	-18,700	–	-0.84%	–
ORI	Exit	OLD REP INTL CORP	$0	–	-46,600	–	-0.84%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-13,700	–	-0.87%	–
VIAB	Exit	VIACOM INC NEWcl b	$0	–	-32,200	–	-0.88%	–
ETN	Exit	EATON CORP PLC	$0	–	-12,600	–	-0.88%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$0	–	-24,900	–	-0.88%	–
FLEX	Exit	FLEX LTDord	$0	–	-84,700	–	-0.89%	–
QCOM	Exit	QUALCOMM INC	$0	–	-15,500	–	-0.90%	–
NWL	Exit	NEWELL BRANDS INC	$0	–	-55,000	–	-0.90%	–
IPG	Exit	INTERPUBLIC GROUP COS INC	$0	–	-48,900	–	-0.90%	–
TPR	Exit	TAPESTRY INC	$0	–	-22,400	–	-0.91%	–
IRDM	Exit	IRIDIUMMUNICATIONS INC	$0	–	-50,000	–	-0.91%	–
ACCO	Exit	ACCO BRANDS CORP	$0	–	-100,000	–	-0.91%	–
NCR	Exit	NCR CORP NEW	$0	–	-40,000	–	-0.91%	–
CNK	Exit	CINEMARK HOLDINGS INC	$0	–	-28,500	–	-0.92%	–
DRI	Exit	DARDEN RESTAURANTS INC	$0	–	-10,300	–	-0.92%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-15,000	–	-0.93%	–
TTE	Exit	TOTAL S Asponsored adr	$0	–	-18,000	–	-0.93%	–
AOSL	Exit	ALPHA & OMEGA SEMICONDUCTOR	$0	–	-100,000	–	-0.94%	–
TSEM	Exit	TOWER SEMICONDUCTOR LTD	$0	–	-53,600	–	-0.94%	–
ARRS	Exit	ARRIS INTL INC	$0	–	-45,000	–	-0.94%	–
ADS	Exit	ALLIANCE DATA SYSTEMS CORP	$0	–	-5,000	–	-0.95%	–
MKSI	Exit	MKS INSTRUMENT INC	$0	–	-15,000	–	-0.97%	–
AMGN	Exit	AMGEN INC	$0	–	-5,800	–	-0.97%	–
SCS	Exit	STEELCASE INCcl a	$0	–	-65,600	–	-0.98%	–
HPQ	Exit	HP INC	$0	–	-47,200	–	-0.98%	–
LEA	Exit	LEAR CORP	$0	–	-8,500	–	-0.99%	–
MRK	Exit	MERCK & CO INC	$0	–	-17,600	–	-1.00%	–
ACU	Exit	ACME UTD CORP	$0	–	-60,000	–	-1.03%	–
AXL	Exit	AMERICAN AXLE & MFG HLDGS IN	$0	–	-73,500	–	-1.03%	–
ON	Exit	ON SEMICONDUCTOR CORP	$0	–	-70,000	–	-1.04%	–
CA	Exit	CA INC	$0	–	-29,800	–	-1.06%	–
AMCX	Exit	AMC NETWORKS INCcl a	$0	–	-20,000	–	-1.07%	–
TGT	Exit	TARGET CORP	$0	–	-15,300	–	-1.09%	–
CSCO	Exit	CISCO SYS INC	$0	–	-27,900	–	-1.09%	–
FDX	Exit	FEDEX CORP	$0	–	-6,000	–	-1.16%	–
PCMI	Exit	PCM INC	$0	–	-75,000	–	-1.18%	–
TTM	Exit	TATA MTRS LTDsponsored adr	$0	–	-95,900	–	-1.19%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-7,000	–	-1.26%	–
ORCL	Exit	ORACLE CORP	$0	–	-30,600	–	-1.27%	–
AGN	Exit	ALLERGAN PLC	$0	–	-8,500	–	-1.30%	–
GM	Exit	GENERAL MTRS CO	$0	–	-49,300	–	-1.34%	–
IVZ	Exit	INVESCO LTD	$0	–	-73,400	–	-1.35%	–
MIK	Exit	MICHAELS COS INC	$0	–	-104,700	–	-1.37%	–
AZO	Exit	AUTOZONE INC	$0	–	-2,200	–	-1.37%	–
DAL	Exit	DELTA AIR LINES INC DEL	$0	–	-30,000	–	-1.40%	–
KFY	Exit	KORN FERRY INTL	$0	–	-36,000	–	-1.43%	–
MET	Exit	METLIFE INC	$0	–	-38,000	–	-1.43%	–
DAN	Exit	DANA INCORPORATED	$0	–	-95,400	–	-1.43%	–
MAN	Exit	MANPOWERGROUP INC	$0	–	-22,000	–	-1.52%	–
BWA	Exit	BORGWARNER INC	$0	–	-44,400	–	-1.53%	–
DISCA	Exit	DISCOVERY INC	$0	–	-60,000	–	-1.54%	–
AAPL	Exit	APPLE INC	$0	–	-8,800	–	-1.60%	–
BHF	Exit	BRIGHTHOUSE FINL INC	$0	–	-45,000	–	-1.60%	–
PRU	Exit	PRUDENTIAL FINL INC	$0	–	-20,800	–	-1.70%	–
CCK	Exit	CROWN HOLDINGS INC	$0	–	-45,000	–	-1.74%	–
OI	Exit	OWENS ILL INC	$0	–	-117,500	–	-1.78%	–
CELG	Exit	CELGENE CORP	$0	–	-25,600	–	-1.84%	–
NCLH	Exit	NORWEGIAN CRUISE LINE HLDG L	$0	–	-41,200	–	-1.90%	–
ETM	Exit	ENTERCOMMUNICATIONS CORPcl a	$0	–	-300,000	–	-1.91%	–
AL	Exit	AIR LEASE CORPcl a	$0	–	-66,000	–	-2.44%	–

Q3 2018

			Value		Shares		↓ Weighting
AL	Buy	AIR LEASE CORPcl a	$3,028,000	+51.6%	66,000	+38.7%	2.44%	+38.1%
ETM	Buy	ENTERCOMMUNICATIONS CORPcl a	$2,370,000	+109.2%	300,000	+100.0%	1.91%	+90.6%
CCK	New	CROWN HOLDINGS INC	$2,160,000	–	45,000	–	1.74%	–
BHF	New	BRIGHTHOUSE FINL INC	$1,991,000	–	45,000	–	1.60%	–
MAN	New	MANPOWERGROUP INC	$1,891,000	–	22,000	–	1.52%	–
COWN	New	COWEN INCcl a new	$978,000	–	60,000	–	0.79%	–
VR	Exit	VALIDUS HOLDINGS LTD	$0	–	-21,200	–	-1.27%	–

Q2 2018

			Value		Shares		↓ Weighting
KFY	New	KORN FERRY INTL	$2,229,000	–	36,000	–	1.97%	–
CELG	New	CELGENE CORP	$2,033,000	–	25,600	–	1.80%	–
MIK	New	MICHAELS COS INC	$2,007,000	–	104,700	–	1.77%	–
AL	New	AIR LEASE CORPcl a	$1,998,000	–	47,600	–	1.76%	–
OI	New	OWENS ILL INC	$1,975,000	–	117,500	–	1.74%	–
IVZ	New	INVESCO LTD	$1,950,000	–	73,400	–	1.72%	–
NCLH	New	NORWEGIAN CRUISE LINE HLDG L	$1,947,000	–	41,200	–	1.72%	–
PRU	New	PRUDENTIAL FINL INC	$1,945,000	–	20,800	–	1.72%	–
GM	New	GENERAL MTRS CO	$1,942,000	–	49,300	–	1.72%	–
DAN	New	DANA INCORPORATED	$1,926,000	–	95,400	–	1.70%	–
BWA	New	BORGWARNER INC	$1,916,000	–	44,400	–	1.69%	–
TTM	New	TATA MTRS LTDsponsored adr	$1,875,000	–	95,900	–	1.66%	–
MET	New	METLIFE INC	$1,657,000	–	38,000	–	1.46%	–
DISCA	New	DISCOVERY INC	$1,650,000	–	60,000	–	1.46%	–
AAPL	New	APPLE INC	$1,629,000	–	8,800	–	1.44%	–
LEA	New	LEAR CORP	$1,579,000	–	8,500	–	1.40%	–
ON	New	ON SEMICONDUCTOR CORP	$1,556,000	–	70,000	–	1.37%	–
GS	New	GOLDMAN SACHS GROUP INC	$1,544,000	–	7,000	–	1.36%	–
DAL	New	DELTA AIR LINES INC DEL	$1,486,000	–	30,000	–	1.31%	–
AZO	New	AUTOZONE INC	$1,476,000	–	2,200	–	1.30%	–
MKSI	New	MKS INSTRUMENT INC	$1,436,000	–	15,000	–	1.27%	–
VR	New	VALIDUS HOLDINGS LTD	$1,433,000	–	21,200	–	1.27%	–
AOSL	New	ALPHA & OMEGA SEMICONDUCTOR	$1,424,000	–	100,000	–	1.26%	–
NWL	New	NEWELL BRANDS INC	$1,418,000	–	55,000	–	1.25%	–
AGN	New	ALLERGAN PLC	$1,417,000	–	8,500	–	1.25%	–
ACCO	New	ACCO BRANDS CORP	$1,385,000	–	100,000	–	1.22%	–
FDX	New	FEDEX CORP	$1,362,000	–	6,000	–	1.20%	–
ORCL	New	ORACLE CORP	$1,348,000	–	30,600	–	1.19%	–
ACU	New	ACME UTD CORP	$1,245,000	–	60,000	–	1.10%	–
AMCX	New	AMC NETWORKS INC CL Acl a	$1,244,000	–	20,000	–	1.10%	–
CSCO	New	CISCO SYS INC	$1,201,000	–	27,900	–	1.06%	–
NCR	New	NCR CORP NEW	$1,199,000	–	40,000	–	1.06%	–
FLEX	New	FLEX LTDord	$1,195,000	–	84,700	–	1.06%	–
TSEM	New	TOWER SEMICONDUCTOR LTD	$1,180,000	–	53,600	–	1.04%	–
ADS	New	ALLIANCE DATA SYSTEMS CORP	$1,166,000	–	5,000	–	1.03%	–
TGT	New	TARGET CORP	$1,165,000	–	15,300	–	1.03%	–
IPG	New	INTERPUBLIC GROUP COS INC	$1,146,000	–	48,900	–	1.01%	–
AXL	New	AMERICAN AXLE & MFG HLDGS IN	$1,144,000	–	73,500	–	1.01%	–
PCMI	New	PCM INC	$1,136,000	–	75,000	–	1.00%	–
ETM	New	ENTERCOMMUNICATIONS CORPcl a	$1,133,000	–	150,000	–	1.00%	–
DRI	New	DARDEN RESTAURANTS INC	$1,103,000	–	10,300	–	0.97%	–
ARRS	New	ARRIS INTL INC	$1,100,000	–	45,000	–	0.97%	–
TTE	New	TOTAL S Asponsored adr	$1,090,000	–	18,000	–	0.96%	–
HPQ	New	HP INC	$1,071,000	–	47,200	–	0.95%	–
AMGN	New	AMGEN INC	$1,071,000	–	5,800	–	0.95%	–
MRK	New	MERCK & CO INC	$1,068,000	–	17,600	–	0.94%	–
GILD	New	GILEAD SCIENCES INC	$1,063,000	–	15,000	–	0.94%	–
CA	New	CA INC	$1,062,000	–	29,800	–	0.94%	–
TPR	New	TAPESTRY INC	$1,046,000	–	22,400	–	0.92%	–
RIO	New	RIO TINTO PLCsponsored adr	$1,026,000	–	18,500	–	0.91%	–
REVG	New	REV GROUP INC	$1,021,000	–	60,000	–	0.90%	–
CNK	New	CINEMARK HOLDINGS INC	$1,000,000	–	28,500	–	0.88%	–
LYB	New	LYONDELLBASELL INDUSTRIES N	$989,000	–	9,000	–	0.87%	–
SON	New	SONOCO PRODS CO	$982,000	–	18,700	–	0.87%	–
VIAB	New	VIACOM INC NEWcl b	$971,000	–	32,200	–	0.86%	–
NUE	New	NUCOR CORP	$969,000	–	15,500	–	0.86%	–
SO	New	SOUTHERN CO	$959,000	–	20,700	–	0.85%	–
GPS	New	GAP INC DEL	$956,000	–	29,500	–	0.84%	–
ETN	New	EATON CORP PLC	$942,000	–	12,600	–	0.83%	–
AEG	New	AEGON N Vny registry sh	$940,000	–	158,700	–	0.83%	–
LAZ	New	LAZARD LTD	$934,000	–	19,100	–	0.82%	–
ORI	New	OLD REP INTL CORP	$928,000	–	46,600	–	0.82%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$910,000	–	24,900	–	0.80%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$908,000	–	6,500	–	0.80%	–
WFC	New	WELLS FARGO CO NEW	$904,000	–	16,300	–	0.80%	–
GOOGL	New	ALPHABET INCcap stk cl a	$903,000	–	800	–	0.80%	–
RILY	New	B RILEY FINL INC	$902,000	–	40,000	–	0.80%	–
IP	New	INTL PAPER CO	$901,000	–	17,300	–	0.80%	–
GOOG	New	ALPHABET INCcap stk cl c	$895,000	–	802	–	0.79%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$892,000	–	8,400	–	0.79%	–
SCS	New	STEELCASE INCcl a	$886,000	–	65,600	–	0.78%	–
IGT	New	INTERNATIONAL GAME TECHNOLOG	$883,000	–	38,000	–	0.78%	–
CVS	New	CVS HEALTH CORP	$882,000	–	13,700	–	0.78%	–
F	New	FORD MTR CO DEL	$881,000	–	79,600	–	0.78%	–
KMB	New	KIMBERLY CLARK CORP	$874,000	–	8,300	–	0.77%	–
QCOM	New	QUALCOMM INC	$870,000	–	15,500	–	0.77%	–
ORBK	New	ORBOTECH LTDord	$865,000	–	14,000	–	0.76%	–
ADT	New	ADT INC	$865,000	–	100,000	–	0.76%	–
CRDA	New	CRAWFORD & COcl a	$861,000	–	100,000	–	0.76%	–
TOWR	New	TOWER INTL INC	$859,000	–	27,000	–	0.76%	–
CSV	New	CARRIAGE SVCS INC	$859,000	–	35,000	–	0.76%	–
T	New	AT&T INC	$819,000	–	25,500	–	0.72%	–
XRX	New	XEROX CORP	$816,000	–	34,000	–	0.72%	–
IRDM	New	IRIDIUMMUNICATIONS INC	$805,000	–	50,000	–	0.71%	–
MO	New	ALTRIA GROUP INC	$795,000	–	14,000	–	0.70%	–
CAH	New	CARDINAL HEALTH INC	$786,000	–	16,100	–	0.69%	–
TLFA	New	TANDY LEATHER FACTORY INC	$780,000	–	100,000	–	0.69%	–
SPWH	New	SPORTSMANS WHSE HLDGS INC	$768,000	–	150,000	–	0.68%	–
EMKR	New	EMCORE CORP	$758,000	–	150,000	–	0.67%	–
GSIT	New	GSI TECHNOLOGY	$752,000	–	100,000	–	0.66%	–
BGCP	New	BGC PARTNERS INCcl a	$751,000	–	66,300	–	0.66%	–
CMI	New	CUMMINS INC	$745,000	–	5,600	–	0.66%	–
GIS	New	GENERAL MLS INC	$744,000	–	16,800	–	0.66%	–
GME	New	GAMESTOP CORP NEWcl a	$729,000	–	50,000	–	0.64%	–
MTOR	New	MERITOR INC	$617,000	–	30,000	–	0.54%	–
HZN	New	HORIZON GLOBAL CORP	$596,000	–	100,000	–	0.53%	–
MPAA	New	MOTORCAR PTS AMER INC	$561,000	–	30,000	–	0.50%	–
UTHR	New	UNITED THERAPEUTICS CORP DEL	$464,000	–	4,100	–	0.41%	–
CTG	New	COMPUTER TASK GROUP INC	$136,000	–	17,621	–	0.12%	–

Q4 2017

			Value		Shares		↓ Weighting
PCMI	Exit	PCM INC	$0	–	-20,000	–	-0.23%	–
MHLD	Exit	MAIDEN HOLDINGS LTD	$0	–	-48,600	–	-0.31%	–
DIN	Exit	DINEEQUITY INC	$0	–	-11,000	–	-0.38%	–
UTHR	Exit	UNITED THERAPEUTICS CORP	$0	–	-4,100	–	-0.39%	–
M	Exit	MACY'S INC	$0	–	-23,300	–	-0.41%	–
IRDM	Exit	IRIDIUM COMMUNICATIONS INC	$0	–	-50,000	–	-0.42%	–
AOSL	Exit	ALPHA & OMEGA SEMICONDUCTOR	$0	–	-31,400	–	-0.42%	–
TEVA	Exit	TEVA PHARMACEUTICAL-SP ADRadrs	$0	–	-30,000	–	-0.43%	–
TBI	Exit	TRUEBLUE INC	$0	–	-25,000	–	-0.46%	–
SYNA	Exit	SYNAPTICS INC	$0	–	-15,000	–	-0.48%	–
GDEN	Exit	GOLDEN ENTERTAINMENT INC	$0	–	-25,000	–	-0.49%	–
AXL	Exit	AMERICAN AXLE & MFG HOLDINGS	$0	–	-36,100	–	-0.51%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-26,700	–	-0.52%	–
TIME	Exit	TIME INC	$0	–	-47,900	–	-0.52%	–
CRDA	Exit	CRAWFORD & CO -CL A	$0	–	-70,000	–	-0.54%	–
SPWH	Exit	SPORTSMAN`S WAREHOUSE HOLDIN	$0	–	-150,000	–	-0.55%	–
RILY	Exit	B RILEY FINANCIAL INC	$0	–	-40,000	–	-0.55%	–
BTTGY	Exit	BT GROUP PLC-SPON ADRadrs	$0	–	-36,700	–	-0.57%	–
SCS	Exit	STEELCASE INC-CL A	$0	–	-47,500	–	-0.59%	–
TOWR	Exit	TOWER INTERNATIONAL INC	$0	–	-27,000	–	-0.60%	–
STX	Exit	SEAGATE TECHNOLOGY	$0	–	-22,200	–	-0.60%	–
RICK	Exit	RCI HOSPITALITY HOLDINGS INC	$0	–	-30,000	–	-0.60%	–
IPG	Exit	INTERPUBLIC GROUP OF COS INC	$0	–	-36,000	–	-0.61%	–
CAI	Exit	CAI INTERNATIONAL INC	$0	–	-25,000	–	-0.61%	–
GOOG	Exit	ALPHABET INC-CL C	$0	–	-802	–	-0.62%	–
GCI	Exit	GANNETT CO INC	$0	–	-86,100	–	-0.63%	–
T	Exit	AT&T INC	$0	–	-19,900	–	-0.63%	–
GOOGL	Exit	ALPHABET INC-CL A	$0	–	-800	–	-0.63%	–
TTM	Exit	TATA MOTORS LTD-SPON ADRadrs	$0	–	-25,000	–	-0.63%	–
TLFA	Exit	TANDY LEATHER FACTORY INC	$0	–	-100,000	–	-0.64%	–
WSTC	Exit	WEST CORP	$0	–	-34,100	–	-0.65%	–
FOGO	Exit	FOGO DE CHAO INC	$0	–	-65,000	–	-0.65%	–
MCFT	Exit	MCBC HOLDINGS INC	$0	–	-40,000	–	-0.66%	–
FLEX	Exit	FLEXTRONICS INTL LTD	$0	–	-50,000	–	-0.67%	–
NLSN	Exit	NIELSEN N.V.	$0	–	-20,200	–	-0.68%	–
ORBK	Exit	ORBOTECH LTD	$0	–	-20,000	–	-0.68%	–
MNTX	Exit	MANITEX INTERNATIONAL INC	$0	–	-95,000	–	-0.69%	–
UPS	Exit	UNITED PARCEL SERVICE-CL B	$0	–	-7,300	–	-0.71%	–
ORI	Exit	OLD REPUBLIC INTL CORP	$0	–	-44,700	–	-0.71%	–
MPAA	Exit	MOTORCAR PARTS OF AMERICA IN	$0	–	-30,000	–	-0.72%	–
BP	Exit	BP PLC-SPONS ADRadrs	$0	–	-23,000	–	-0.72%	–
AEG	Exit	AEGON N.V.-NY REG SHR	$0	–	-152,900	–	-0.72%	–
CA	Exit	CA INC	$0	–	-26,600	–	-0.72%	–
GSK	Exit	GLAXOSMITHKLINE PLC-SPON ADRadrs	$0	–	-22,200	–	-0.73%	–
ACU	Exit	ACME UNITED CORP	$0	–	-40,000	–	-0.74%	–
CTG	Exit	COMPUTER TASK GROUP INC	$0	–	-175,000	–	-0.76%	–
CSCO	Exit	CISCO SYSTEMS INC	$0	–	-27,900	–	-0.76%	–
WRK	Exit	WESTROCK CO	$0	–	-16,600	–	-0.76%	–
UFS	Exit	DOMTAR CORP	$0	–	-21,700	–	-0.76%	–
ESRX	Exit	EXPRESS SCRIPTS HOLDING COMPANY	$0	–	-15,000	–	-0.77%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-7,400	–	-0.78%	–
ETN	Exit	EATON CORP PLC	$0	–	-12,600	–	-0.78%	–
SJR	Exit	SHAW COMMUNICATIONS INC-B	$0	–	-42,200	–	-0.79%	–
BUD	Exit	ANHEUSER-BUSCH INBEV SPN ADRadrs	$0	–	-8,200	–	-0.79%	–
IVZ	Exit	INVESCO PLC-SPONSORED ADRadrs	$0	–	-28,000	–	-0.80%	–
LYB	Exit	LYONDELLBASELL INDU-CL A	$0	–	-9,900	–	-0.80%	–
TUP	Exit	TUPPERWARE BRANDS CORP	$0	–	-16,100	–	-0.81%	–
AJG	Exit	ARTHUR J GALLAGHER & CO	$0	–	-16,300	–	-0.81%	–
LVS	Exit	LAS VEGAS SANDS CORP	$0	–	-15,700	–	-0.82%	–
VFC	Exit	VF CORP	$0	–	-15,900	–	-0.82%	–
EMN	Exit	EASTMAN CHEMICAL COMPANY	$0	–	-11,200	–	-0.82%	–
BLBD	Exit	BLUE BIRD CORPORATION	$0	–	-50,000	–	-0.83%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-14,900	–	-0.84%	–
PM	Exit	PHILIP MORRIS INTERNATIONAL	$0	–	-9,300	–	-0.84%	–
CMI	Exit	CUMMINS INC	$0	–	-6,200	–	-0.84%	–
CCL	Exit	CARNIVAL CORPunit	$0	–	-16,200	–	-0.85%	–
CAJ	Exit	CANON INC-SPONS ADRadrs	$0	–	-30,600	–	-0.85%	–
HSBC	Exit	HSBC HOLDINGS PLC-SPONS ADRadrs	$0	–	-21,300	–	-0.85%	–
RIO	Exit	RIO TINTO PLC-SPON ADRadrs	$0	–	-22,300	–	-0.85%	–
TSEM	Exit	TOWER SEMICONDUCTOR LTD	$0	–	-35,000	–	-0.87%	–
MDC	Exit	MDC HOLDINGS INC	$0	–	-32,500	–	-0.87%	–
AMGN	Exit	AMGEN INC	$0	–	-5,800	–	-0.88%	–
CY	Exit	CYPRESS SEMICONDUCTOR CORP	$0	–	-72,700	–	-0.88%	–
GPS	Exit	GAP INC/THE	$0	–	-37,400	–	-0.89%	–
ADS	Exit	ALLIANCE DATA SYSTEMS CORP	$0	–	-5,000	–	-0.90%	–
HPQ	Exit	HP INC COM	$0	–	-56,300	–	-0.91%	–
KLAC	Exit	KLA-TENCOR CORPORATION	$0	–	-10,700	–	-0.92%	–
ETM	Exit	ENTERCOM COMMUNICATIONS-CL A	$0	–	-100,000	–	-0.93%	–
AMCX	Exit	AMC NETWORKS INC	$0	–	-20,000	–	-0.95%	–
MIK	Exit	MICHAELS STORES INC	$0	–	-55,000	–	-0.96%	–
FNF	Exit	FIDELITY NATIONAL FINANCIAL INC	$0	–	-25,000	–	-0.96%	–
BGCP	Exit	BGC PARTNERS INC CL A	$0	–	-82,700	–	-0.97%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-15,000	–	-0.98%	–
UL	Exit	UNILEVER PLC-SPONSORED ADRadrs	$0	–	-21,000	–	-0.99%	–
ERI	Exit	ELDORADO RESORTS INC	$0	–	-48,100	–	-1.00%	–
DISCA	Exit	DISCOVERY COMMUNICATIONS-A	$0	–	-60,000	–	-1.04%	–
MET	Exit	METLIFE INC	$0	–	-25,000	–	-1.05%	–
AFL	Exit	AFLAC INC	$0	–	-16,000	–	-1.06%	–
IBM	Exit	INTL BUSINESS MACHINES CORP	$0	–	-9,000	–	-1.06%	–
GM	Exit	GENERAL MOTORS CO	$0	–	-33,000	–	-1.08%	–
BA	Exit	BOEING CO	$0	–	-5,400	–	-1.11%	–
MKSI	Exit	MKS INSTRUMENTS INC	$0	–	-15,000	–	-1.15%	–
CBI	Exit	CHICAGO BRIDGE & IRON-NY SHR	$0	–	-85,000	–	-1.16%	–
CELG	Exit	CELGENE CORP	$0	–	-9,800	–	-1.16%	–
AAL	Exit	AMERICAN AIRLINES GROUP INC	$0	–	-31,000	–	-1.19%	–
ORCL	Exit	ORACLE CORP	$0	–	-30,600	–	-1.20%	–
BWA	Exit	BORGWARNER INC	$0	–	-30,000	–	-1.24%	–
PRU	Exit	PRUDENTIAL FINANCIAL INC	$0	–	-14,600	–	-1.26%	–
MTOR	Exit	MERITOR INC	$0	–	-60,000	–	-1.26%	–
WHR	Exit	WHIRLPOOL CORP	$0	–	-8,500	–	-1.27%	–
FDX	Exit	FEDEX CORP	$0	–	-7,000	–	-1.28%	–
NCLH	Exit	NORWEGIAN CRUISE LINE HOLDIN	$0	–	-30,000	–	-1.31%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-7,000	–	-1.34%	–
ON	Exit	ON SEMICONDUCTOR CORPORATION	$0	–	-90,000	–	-1.35%	–
AAPL	Exit	APPLE COMPUTER INC	$0	–	-11,200	–	-1.40%	–
LEA	Exit	LEAR CORP	$0	–	-10,000	–	-1.40%	–
OI	Exit	OWENS-ILLINOIS INC	$0	–	-78,000	–	-1.59%	–
AL	Exit	AIR LEASE CORPORATION CL A	$0	–	-50,000	–	-1.73%	–
KFY	Exit	KORN/FERRY INTERNATIONAL	$0	–	-60,000	–	-1.92%	–
DAN	Exit	DANA HOLDING CORP	$0	–	-85,000	–	-1.93%	–
ABBV	Exit	ABBVIE INCcall	$0	–	-100,000	–	-7.20%	–

Q3 2017

			Value		Shares		↓ Weighting
ABBV	New	ABBVIE INCcall	$8,886,000	–	100,000	–	7.20%	–
DISCA	New	DISCOVERY COMMUNICATIONS-A	$1,277,000	–	60,000	–	1.04%	–
DWDP	New	DOWDUPONT INC	$1,032,000	–	14,900	–	0.84%	–
UFS	New	DOMTAR CORP	$942,000	–	21,700	–	0.76%	–
MPAA	New	MOTORCAR PARTS OF AMERICA IN	$884,000	–	30,000	–	0.72%	–
CRDA	New	CRAWFORD & CO -CL A	$671,000	–	70,000	–	0.54%	–
ABTL	Exit	AUTOBYTEL INC	$0	–	-35,000	–	-0.38%	–
	Exit	DOMTAR CORP	$0	–	-21,700	–	-0.72%	–
DOW	Exit	DOW CHEMICAL	$0	–	-14,900	–	-0.81%	–
SPLS	Exit	STAPLES	$0	–	-93,500	–	-0.81%	–
COH	Exit	COACH INC	$0	–	-24,700	–	-1.01%	–
ABBV	Exit	ABBVIE INC	$0	–	-100,000	–	-6.24%	–

Q2 2017

			Value		Shares		↓ Weighting
ABBV	New	ABBVIE INC	$7,251,000	–	100,000	–	6.24%	–
KFY	New	KORN/FERRY INERNATIONAL	$2,072,000	–	60,000	–	1.78%	–
DAN	New	DANA HOLDING CORP	$1,898,000	–	85,000	–	1.63%	–
AL	New	AIR LEASE CORPORATION CL A	$1,868,000	–	50,000	–	1.61%	–
OI	New	OWENS-ILLINOIS INC	$1,866,000	–	78,000	–	1.61%	–
CBI	New	CHICAGO BRIDGE & IRON-NY SHR	$1,677,000	–	85,000	–	1.44%	–
WHR	New	WHIRLPOOL CORP	$1,629,000	–	8,500	–	1.40%	–
NCLH	New	NORWEGIAN CRUISE LINE HOLDING	$1,629,000	–	30,000	–	1.40%	–
AAPL	New	APPLE COMPUTER INC	$1,613,000	–	11,200	–	1.39%	–
PRU	New	PRUDENTIAL FINANCIAL INC	$1,579,000	–	14,600	–	1.36%	–
AAL	New	AMERICAN AIRLINES GROUP INC	$1,560,000	–	31,000	–	1.34%	–
GS	New	GOLDMAN SACHS GROUP INC	$1,553,000	–	7,000	–	1.34%	–
ORCL	New	ORACLE CORP	$1,534,000	–	30,600	–	1.32%	–
FDX	New	FEDEX CORP	$1,521,000	–	7,000	–	1.31%	–
LEA	New	LEAR CORP	$1,421,000	–	10,000	–	1.22%	–
IBM	New	INTL BUSINESS MACHINES CORP	$1,384,000	–	9,000	–	1.19%	–
MET	New	METLIFE INC	$1,374,000	–	25,000	–	1.18%	–
ADS	New	ALLIANCE DATA SYSTEMS CORP	$1,283,000	–	5,000	–	1.10%	–
CELG	New	CELGENE CORP	$1,273,000	–	9,800	–	1.10%	–
BWA	New	BORGWARNER INC	$1,271,000	–	30,000	–	1.09%	–
ON	New	ON SEMICONDUCTOR CORPORATION	$1,264,000	–	90,000	–	1.09%	–
AFL	New	AFLAC INC	$1,243,000	–	16,000	–	1.07%	–
COH	New	COACH INC	$1,169,000	–	24,700	–	1.01%	–
GM	New	GENERAL MOTORS CO	$1,153,000	–	33,000	–	0.99%	–
MDC	New	MDC HOLDINGS INC	$1,148,000	–	32,500	–	0.99%	–
ACU	New	ACME UNITED CORP	$1,144,000	–	40,000	–	0.98%	–
UL	New	UNILEVER PLC-SPONSORED ADRadrs	$1,137,000	–	21,000	–	0.98%	–
TUP	New	TUPPERWARE BRANDS CORP	$1,131,000	–	16,100	–	0.97%	–
FNF	New	FIDELITY NATIONAL FINANCIAL INC	$1,121,000	–	25,000	–	0.96%	–
PM	New	PHILIP MORRIS INTERNATIONAL	$1,092,000	–	9,300	–	0.94%	–
BA	New	BOEING	$1,068,000	–	5,400	–	0.92%	–
AMCX	New	AMC NETWORKS	$1,068,000	–	20,000	–	0.92%	–
GILD	New	GILEAD SCIENCES INC	$1,062,000	–	15,000	–	0.91%	–
CCL	New	CARNIVAL CORPunit	$1,062,000	–	16,200	–	0.91%	–
BGCP	New	BGC PARTNERS INC CL A	$1,045,000	–	82,700	–	0.90%	–
CAJ	New	CANON INC-SPONS ADRadrs	$1,041,000	–	30,600	–	0.90%	–
ETM	New	ENTERCOM COMMUNICATIONS CORPcl a	$1,035,000	–	100,000	–	0.89%	–
MIK	New	MICHAELS STORES INC	$1,019,000	–	55,000	–	0.88%	–
MKSI	New	MKS INSTRUMENTS INC.	$1,010,000	–	15,000	–	0.87%	–
CMI	New	CUMMINS INC	$1,006,000	–	6,200	–	0.87%	–
LVS	New	LAS VEGAS SANDS CORP	$1,003,000	–	15,700	–	0.86%	–
AMGN	New	AMGEN INC	$999,000	–	5,800	–	0.86%	–
TEVA	New	TEVA PHARMACEUTICAL -SP ADRadrs	$997,000	–	30,000	–	0.86%	–
MTOR	New	MERITOR INC	$997,000	–	60,000	–	0.86%	–
CY	New	CYPRESS SEMICONDUCTOR CORP	$992,000	–	72,700	–	0.85%	–
HSBC	New	HSBC HOLDINGS PLC-SPONS ADRadrs	$988,000	–	21,300	–	0.85%	–
IVZ	New	INVESCO PLC-SPONSORED ADRadrs	$985,000	–	28,000	–	0.85%	–
HPQ	New	HP INC COM	$984,000	–	56,300	–	0.85%	–
ETN	New	EATON CORP PLC	$981,000	–	12,600	–	0.84%	–
KLAC	New	KLA-TENCOR CORPORATION	$979,000	–	10,700	–	0.84%	–
JNJ	New	JOHNSON & JOHNSON	$979,000	–	7,400	–	0.84%	–
CTG	New	COMPUTER TASK GROUP INC	$978,000	–	175,000	–	0.84%	–
ERI	New	ELDORADO RESORTS INC	$962,000	–	48,100	–	0.83%	–
GSK	New	GLAXOSMITHKLINE PLC-SPON ADR	$957,000	–	22,200	–	0.82%	–
ESRX	New	EXPRESS SCRIPTS HOLDING COMPANY	$958,000	–	15,000	–	0.82%	–
RIO	New	RIO TINO PLC-SPON ADRadrs	$944,000	–	22,300	–	0.81%	–
SPLS	New	STAPLES	$942,000	–	93,500	–	0.81%	–
EMN	New	EASTMAN CHEMICAL COMPANY	$941,000	–	11,200	–	0.81%	–
WRK	New	WESTROCK CO	$941,000	–	16,600	–	0.81%	–
DOW	New	DOW CHEMICAL	$940,000	–	14,900	–	0.81%	–
AJG	New	ARTHUR J GALLAGHER & CO	$933,000	–	16,300	–	0.80%	–
SJR	New	SHAW COMMUNICATIONS INC B	$920,000	–	42,200	–	0.79%	–
CA	New	CA INC	$917,000	–	26,600	–	0.79%	–
VFC	New	VF CORP	$916,000	–	15,900	–	0.79%	–
BUD	New	ANHEUSER-BUSCH INBEV SPN ADRadrs	$905,000	–	8,200	–	0.78%	–
FOGO	New	FOGO DE CHAO INC	$904,000	–	65,000	–	0.78%	–
TLFA	New	TANDY LEATHER FACTORY INC	$890,000	–	100,000	–	0.77%	–
IPG	New	INTERPUBLIC GROUP OF COS INC	$886,000	–	36,000	–	0.76%	–
ORI	New	OLD REPUBLIC INTL CORP	$873,000	–	44,700	–	0.75%	–
CSCO	New	CISCO SYSTEMS INC	$873,000	–	27,900	–	0.75%	–
STX	New	SEAGATE TECHNOLOGY	$860,000	–	22,200	–	0.74%	–
BLBD	New	BLUE BIRD CORPORATION	$850,000	–	50,000	–	0.73%	–
LYB	New	LYONDELLBASELL INDU-CL A	$835,000	–	9,900	–	0.72%	–
TSEM	New	TOWER SEMICONDUCTOR LTD	$835,000	–	35,000	–	0.72%	–
	New	DOMTAR CORP	$834,000	–	21,700	–	0.72%	–
TTM	New	TATA MOTORS LTD-SPON ADRadrs	$825,000	–	25,000	–	0.71%	–
GPS	New	GAP INC/THE	$822,000	–	37,400	–	0.71%	–
FLEX	New	FLEXTRONICS INTL LTD	$816,000	–	50,000	–	0.70%	–
SPWH	New	SPORTSMAN'S WAREHOUSE HOLDINGS	$810,000	–	150,000	–	0.70%	–
UPS	New	UNITED PARCEL SERVICE-CL B	$807,000	–	7,300	–	0.69%	–
BP	New	BP PLC-SPONS ADRadrs	$797,000	–	23,000	–	0.69%	–
WSTC	New	WEST CORP	$795,000	–	34,100	–	0.68%	–
MCFT	New	MCBC HOLDINGS INC	$782,000	–	40,000	–	0.67%	–
AEG	New	AEGON N.V. NY REG SHR	$781,000	–	152,900	–	0.67%	–
NLSN	New	NIELSEN N.V.	$781,000	–	20,200	–	0.67%	–
SYNA	New	SYNAPTICS INC	$776,000	–	15,000	–	0.67%	–
GCI	New	GANNETT CO INC	$751,000	–	86,100	–	0.65%	–
T	New	AT&T INC	$751,000	–	19,900	–	0.65%	–
GOOGL	New	ALPHABET INC-CL A	$744,000	–	800	–	0.64%	–
RILY	New	B RILEY FINL INC	$742,000	–	40,000	–	0.64%	–
GOOG	New	ALPHABET INC-CL C	$729,000	–	802	–	0.63%	–
GE	New	GENERAL ELECTRIC CO	$721,000	–	26,700	–	0.62%	–
RICK	New	RCI HOSPITALITY HOLDINGS INC	$715,000	–	30,000	–	0.62%	–
BTTGY	New	BT GROUP PLC-SPON ADRadrs	$712,000	–	36,700	–	0.61%	–
TIME	New	TIME INC	$687,000	–	47,900	–	0.59%	–
SCS	New	STEELCASE INC-CL A	$665,000	–	47,500	–	0.57%	–
MNTX	New	MANITEX INTERNATIONAL INC	$663,000	–	95,000	–	0.57%	–
TBI	New	TRUEBLUE INC	$663,000	–	25,000	–	0.57%	–
ORBK	New	ORBOTECH LTD	$652,000	–	20,000	–	0.56%	–
TOWR	New	TOWER INTERNATIONAL INC	$606,000	–	27,000	–	0.52%	–
CAI	New	CAI INTERNATIONAL INC	$590,000	–	25,000	–	0.51%	–
AXL	New	AMERICAN AXLE & MFG HOLDINGS	$563,000	–	36,100	–	0.48%	–
IRDM	New	IRIDIUM COMMUNICATIONS INC	$553,000	–	50,000	–	0.48%	–
M	New	MACY'S INC	$541,000	–	23,300	–	0.47%	–
MHLD	New	MAIDEN HOLDINGS LTD	$539,000	–	48,600	–	0.46%	–
UTHR	New	UNITED THERAPEUTICS CORP	$532,000	–	4,100	–	0.46%	–
AOSL	New	ALPHA & OMEGA SEMICONDUCTOR	$523,000	–	31,400	–	0.45%	–
GDEN	New	GOLDEN ENTMT INC	$518,000	–	25,000	–	0.45%	–
DIN	New	DINEEQUITY INC	$485,000	–	11,000	–	0.42%	–
ABTL	New	AUTOBYTEL INC	$441,000	–	35,000	–	0.38%	–
PCMI	New	PCM INC	$375,000	–	20,000	–	0.32%	–

Q4 2016

			Value		Shares		↓ Weighting
BBBY	Exit	BED BATH & BEYOND INC	$0	–	-7,500	–	-0.31%	–
IRDM	Exit	IRIDIUM COMMUNICATIONS INC	$0	–	-50,000	–	-0.39%	–
CAI	Exit	CAI INTERNATIONAL INC	$0	–	-50,000	–	-0.40%	–
FOGO	Exit	FOGO DE CHAO INC	$0	–	-40,000	–	-0.40%	–
SHLM	Exit	SCHULMAN A INC	$0	–	-15,000	–	-0.42%	–
MCFT	Exit	MCBC HOLDINGS INC	$0	–	-40,000	–	-0.44%	–
NNBR	Exit	NN INC	$0	–	-25,000	–	-0.44%	–
UTHR	Exit	UNITED THERAPEUTICS CORP	$0	–	-4,100	–	-0.46%	–
MNTX	Exit	MANITEX INTERNATIONAL INC	$0	–	-95,000	–	-0.50%	–
ESND	Exit	ESSENDANT INC	$0	–	-27,000	–	-0.53%	–
TBI	Exit	TRUEBLUE INC	$0	–	-25,000	–	-0.54%	–
CTG	Exit	COMPUTER TASK GROUP INC	$0	–	-125,000	–	-0.56%	–
MIK	Exit	MICHAELS STORES INC	$0	–	-25,000	–	-0.58%	–
AXL	Exit	AMERICAN AXLE & MFG HOLDINGS	$0	–	-36,100	–	-0.59%	–
ABTL	Exit	AUTOBYTEL INC	$0	–	-35,000	–	-0.59%	–
GOOG	Exit	ALPHABET INC-CL C	$0	–	-802	–	-0.59%	–
DBD	Exit	DIEBOLD INC	$0	–	-25,800	–	-0.61%	–
GOOGL	Exit	ALPHABET INC-CL A	$0	–	-800	–	-0.61%	–
TOWR	Exit	TOWER INTERNATIONAL INC	$0	–	-27,000	–	-0.62%	–
	Exit	MAIDEN HOLDINGS LTD	$0	–	-51,600	–	-0.62%	–
MTOR	Exit	MERITOR INC	$0	–	-60,000	–	-0.64%	–
CBI	Exit	CHICAGO BRIDGE & IRON-NY SHR	$0	–	-24,000	–	-0.64%	–
F	Exit	FORD MOTOR CO	$0	–	-56,300	–	-0.65%	–
FLEX	Exit	FLEXTRONICS INTL LTD	$0	–	-50,000	–	-0.65%	–
NLS	Exit	NAUTILUS INC	$0	–	-30,000	–	-0.65%	–
GPS	Exit	GAP INC/THE	$0	–	-31,100	–	-0.66%	–
KSS	Exit	KOHLS CORP	$0	–	-16,400	–	-0.68%	–
BLBD	Exit	BLUE BIRD CORPORATION	$0	–	-50,000	–	-0.70%	–
VIAB	Exit	VIACOM INC-CLASS B	$0	–	-19,300	–	-0.70%	–
MFC	Exit	MANULIFE FINANCIAL CORP	$0	–	-52,200	–	-0.70%	–
ORI	Exit	OLD REPUBLIC INTL CORP	$0	–	-42,100	–	-0.71%	–
LYB	Exit	LYONDELLBASELL INDU-CL A	$0	–	-9,200	–	-0.71%	–
MKSI	Exit	MKS INSTRUMENTS INC.	$0	–	-15,000	–	-0.71%	–
AYR	Exit	AIRCASTLE LTD	$0	–	-37,700	–	-0.72%	–
TSEM	Exit	TOWER SEMICONDUCTOR LTD	$0	–	-50,000	–	-0.72%	–
CAJ	Exit	CANON INC-SPONS ADRadrs	$0	–	-26,200	–	-0.73%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-13,100	–	-0.73%	–
TLFA	Exit	TANDY LEATHER FACTORY INC	$0	–	-100,000	–	-0.74%	–
WPP	Exit	WPP GROUP PLC-SPONSORED ADRadrs	$0	–	-6,800	–	-0.76%	–
AMRK	Exit	A-MARK PRECIOUS METALS INC	$0	–	-50,000	–	-0.77%	–
AFSI	Exit	AMTRUST FINANCIAL SERVICES	$0	–	-30,000	–	-0.77%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-12,100	–	-0.77%	–
RICK	Exit	RCI HOSPITALITY HOLDINGS INC	$0	–	-70,000	–	-0.77%	–
WSTC	Exit	WEST CORP	$0	–	-36,600	–	-0.77%	–
GATX	Exit	GATX CORP	$0	–	-18,700	–	-0.80%	–
ACU	Exit	ACME UNITED CORP	$0	–	-40,000	–	-0.80%	–
EAT	Exit	BRINKER INTERNATIONAL INC	$0	–	-16,700	–	-0.80%	–
PM	Exit	PHILIP MORRIS INTERNATIONAL	$0	–	-9,000	–	-0.84%	–
SYNA	Exit	SYNAPTICS INC	$0	–	-15,000	–	-0.84%	–
LMT	Exit	LOCKHEED MARTIN CORP	$0	–	-3,700	–	-0.85%	–
ORBK	Exit	ORBOTECH LTD	$0	–	-30,000	–	-0.85%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-10,200	–	-0.85%	–
AVX	Exit	AVX CORP	$0	–	-65,000	–	-0.86%	–
UPS	Exit	UNITED PARCEL SERVICE-CL B	$0	–	-8,200	–	-0.86%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-10,000	–	-0.86%	–
EMR	Exit	EMERSON ELECTRIC CO	$0	–	-16,600	–	-0.86%	–
OLN	Exit	OLIN CORP	$0	–	-44,200	–	-0.86%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-7,700	–	-0.87%	–
CA	Exit	CA INC	$0	–	-27,600	–	-0.87%	–
GPC	Exit	GENUINE PARTS CO	$0	–	-9,100	–	-0.87%	–
R	Exit	RYDER SYSTEM INC	$0	–	-14,000	–	-0.88%	–
CNK	Exit	CINEMARK HOLDINGS INC	$0	–	-24,200	–	-0.88%	–
T	Exit	AT&T INC	$0	–	-23,000	–	-0.89%	–
ERI	Exit	ELDORADO RESORTS INC	$0	–	-67,164	–	-0.90%	–
EV	Exit	EATON VANCE CORP	$0	–	-24,200	–	-0.90%	–
SIEGY	Exit	SIEMENS AG SPONS ADRadrs	$0	–	-8,100	–	-0.91%	–
SJR	Exit	SHAW COMMUNICATIONS INC B	$0	–	-46,500	–	-0.91%	–
EMN	Exit	EASTMAN CHEMICAL COMPANY	$0	–	-14,300	–	-0.92%	–
PCAR	Exit	PACCAR INC	$0	–	-16,500	–	-0.92%	–
AJG	Exit	ARTHUR J GALLAGHER & CO	$0	–	-19,200	–	-0.93%	–
SJI	Exit	SOUTH JERSEY INDUSTRIES	$0	–	-33,100	–	-0.93%	–
TKR	Exit	TIMKEN CO	$0	–	-28,000	–	-0.94%	–
MDP	Exit	MEREDITH CORP	$0	–	-19,000	–	-0.94%	–
BBY	Exit	BEST BUY CO INC	$0	–	-25,900	–	-0.94%	–
IP	Exit	INTERNATIONAL PAPER CO	$0	–	-20,700	–	-0.95%	–
TTM	Exit	TATA MOTORS LTD-SPON ADRadrs	$0	–	-25,000	–	-0.95%	–
NAVI	Exit	NAVIENT CORP	$0	–	-69,200	–	-0.96%	–
ACM	Exit	AECOM	$0	–	-33,982	–	-0.96%	–
PKG	Exit	PACKAGING CORP OF AMERICA	$0	–	-12,500	–	-0.97%	–
CELG	Exit	CELGENE CORP	$0	–	-9,800	–	-0.98%	–
GM	Exit	GENERAL MOTORS CO	$0	–	-33,000	–	-1.00%	–
BWA	Exit	BORGWARNER INC	$0	–	-30,000	–	-1.01%	–
TSM	Exit	TAIWAN SEMICONDUCTOR-SP ADR	$0	–	-34,700	–	-1.01%	–
AMGN	Exit	AMGEN INC	$0	–	-6,400	–	-1.02%	–
QCOM	Exit	QUALCOMM INC	$0	–	-15,600	–	-1.02%	–
ADS	Exit	ALLIANCE DATA SYSTEMS CORP	$0	–	-5,000	–	-1.02%	–
PCMI	Exit	PCM INC	$0	–	-50,000	–	-1.03%	–
AOSL	Exit	ALPHA & OMEGA SEMICONDUCTOR	$0	–	-50,000	–	-1.04%	–
MET	Exit	METLIFE INC	$0	–	-25,000	–	-1.06%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-7,000	–	-1.08%	–
NCLH	Exit	NORWEGIAN CRUISE LINE HOLDING	$0	–	-30,000	–	-1.08%	–
AAL	Exit	AMERICAN AIRLINES GROUP INC	$0	–	-31,000	–	-1.08%	–
AFL	Exit	AFLAC INC	$0	–	-16,000	–	-1.10%	–
ARRS	Exit	ARRIS INTERNATIONAL PLC	$0	–	-42,000	–	-1.14%	–
PRU	Exit	PRUDENTIAL FINANCIAL INC	$0	–	-14,600	–	-1.14%	–
ORCL	Exit	ORACLE CORP	$0	–	-30,600	–	-1.15%	–
LEA	Exit	LEAR CORP	$0	–	-10,000	–	-1.16%	–
FDX	Exit	FEDEX CORP	$0	–	-7,000	–	-1.17%	–
KFY	Exit	KORN/FERRY INERNATIONAL	$0	–	-60,000	–	-1.20%	–
AAPL	Exit	APPLE COMPUTER INC	$0	–	-11,200	–	-1.21%	–
CSCO	Exit	CISCO SYSTEMS INC	$0	–	-40,000	–	-1.21%	–
DAN	Exit	DANA HOLDING CORP	$0	–	-85,000	–	-1.26%	–
ETN	Exit	EATON CORP PLC	$0	–	-20,800	–	-1.30%	–
WHR	Exit	WHIRLPOOL CORP	$0	–	-8,500	–	-1.32%	–
AL	Exit	AIR LEASE CORPORATION CL A	$0	–	-50,000	–	-1.36%	–
IBM	Exit	INTL BUSINESS MACHINES CORP	$0	–	-9,000	–	-1.36%	–
OI	Exit	OWENS-ILLINOIS INC	$0	–	-78,000	–	-1.37%	–
NCR	Exit	NCR CORPORATION	$0	–	-47,800	–	-1.47%	–
	Exit	HUNTSMAN CORP	$0	–	-96,000	–	-1.49%	–
ABBV	Exit	ABBVIE INC	$0	–	-113,400	–	-6.82%	–

Q3 2016

			Value		Shares		↓ Weighting
AL	Buy	AIR LEASE CORPORATION CL A	$1,429,000	+24.0%	50,000	+16.3%	1.36%	+18.9%
LEA	New	LEAR CORP	$1,212,000	–	10,000	–	1.16%	–
AOSL	Sell	ALPHA & OMEGA SEMICONDUCTOR	$1,086,000	+11.4%	50,000	-28.6%	1.04%	+6.8%
BWA	New	BORGWARNER INC	$1,055,000	–	30,000	–	1.01%	–
GM	New	GENERAL MOTORS CO	$1,048,000	–	33,000	–	1.00%	–
TTM	New	TATA MOTORS LTD-SPON ADRadrs	$1,000,000	–	25,000	–	0.95%	–
MTOR	Sell	MERITOR INC	$668,000	-4.3%	60,000	-38.1%	0.64%	-8.2%
CTG	New	COMPUTER TASK GROUP INC	$588,000	–	125,000	–	0.56%	–
SVU	Exit	SUPERVALU INC	$0	–	-40,000	–	-0.19%	–
M	Exit	MACY'S INC	$0	–	-15,000	–	-0.50%	–
SPA	Exit	SPARTON CORP	$0	–	-25,000	–	-0.54%	–
CMI	Exit	CUMMINS INC	$0	–	-8,000	–	-0.90%	–
GOOGL	Exit	GENERAL MOTORS CO	$0	–	-33,000	–	-0.93%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-22,000	–	-1.12%	–
JCI	Exit	JOHNSON CONTROLS INC	$0	–	-28,000	–	-1.23%	–
TGH	Exit	TATA MORTERS LTD-SPON ADRadrs	$0	–	-50,000	–	-1.72%	–

Q2 2016

			Value		Shares		↓ Weighting
ABBV	New	ABBVIE INC	$7,021,000	–	113,400	–	6.98%	–
TGH	New	TATA MORTERS LTD-SPON ADRadrs	$1,734,000	–	50,000	–	1.72%	–
WHR	New	WHIRLPOOL CORP	$1,416,000	–	8,500	–	1.41%	–
OI	New	OWENS-ILLINOIS INC	$1,405,000	–	78,000	–	1.40%	–
IBM	New	INTL BUSINESS MACHINES CORP	$1,366,000	–	9,000	–	1.36%	–
NCR	New	NCR CORPORATION	$1,327,000	–	47,800	–	1.32%	–
	New	HUNTSMAN CORP	$1,291,000	–	96,000	–	1.28%	–
ORCL	New	ORACLE CORP	$1,252,000	–	30,600	–	1.24%	–
ETN	New	EATON CORP PLC	$1,242,000	–	20,800	–	1.24%	–
KFY	New	KORN/FERRY INERNATIONAL	$1,242,000	–	60,000	–	1.24%	–
JCI	New	JOHNSON CONTROLS INC	$1,239,000	–	28,000	–	1.23%	–
NCLH	New	NORWEGIAN CRUISE LINE HOLDING	$1,195,000	–	30,000	–	1.19%	–
AFL	New	AFLAC INC	$1,155,000	–	16,000	–	1.15%	–
AL	New	AIR LEASE CORPORATION CL A	$1,152,000	–	43,000	–	1.15%	–
CSCO	New	CISCO SYSTEMS INC	$1,148,000	–	40,000	–	1.14%	–
MSFT	New	MICROSOFT CORP	$1,126,000	–	22,000	–	1.12%	–
OLN	New	OLIN CORP	$1,098,000	–	44,200	–	1.09%	–
ACM	New	AECOM	$1,080,000	–	33,982	–	1.07%	–
AAPL	New	APPLE COMPUTER INC	$1,071,000	–	11,200	–	1.06%	–
FDX	New	FEDEX CORP	$1,062,000	–	7,000	–	1.06%	–
SJI	New	SOUTH JERSEY INDUSTRIES	$1,047,000	–	33,100	–	1.04%	–
PRU	New	PRUDENTIAL FINANCIAL INC	$1,042,000	–	14,600	–	1.04%	–
GS	New	GOLDMAN SACHS GROUP INC	$1,040,000	–	7,000	–	1.03%	–
ERI	New	ELDORADO RESORTS INC	$1,021,000	–	67,164	–	1.02%	–
MET	New	METLIFE INC	$996,000	–	25,000	–	0.99%	–
T	New	AT&T INC	$994,000	–	23,000	–	0.99%	–
MDP	New	MEREDITH CORP	$986,000	–	19,000	–	0.98%	–
ADS	New	ALLIANCE DATA SYSTEMS CORP	$980,000	–	5,000	–	0.98%	–
AOSL	New	ALPHA & OMEGA SEMICONDUCTOR	$975,000	–	70,000	–	0.97%	–
AMGN	New	AMGEN INC	$974,000	–	6,400	–	0.97%	–
EMN	New	EASTMAN CHEMICAL COMPANY	$971,000	–	14,300	–	0.97%	–
CELG	New	CELGENE CORP	$967,000	–	9,800	–	0.96%	–
XOM	New	EXXON MOBIL CORP	$956,000	–	10,200	–	0.95%	–
GOOGL	New	GENERAL MOTORS CO	$934,000	–	33,000	–	0.93%	–
JNJ	New	JOHNSON & JOHNSON	$934,000	–	7,700	–	0.93%	–
GPC	New	GENUINE PARTS CO	$921,000	–	9,100	–	0.92%	–
LMT	New	LOCKHEED MARTIN CORP	$918,000	–	3,700	–	0.91%	–
PM	New	PHILIP MORRIS INTERNATIONAL	$915,000	–	9,000	–	0.91%	–
AJG	New	ARTHUR J GALLAGHER & CO	$914,000	–	19,200	–	0.91%	–
TSM	New	TAIWAN SEMICONDUCTOR-SP ADR	$910,000	–	34,700	–	0.90%	–
CA	New	CA INC	$906,000	–	27,600	–	0.90%	–
CMI	New	CUMMINS INC	$900,000	–	8,000	–	0.90%	–
DAN	New	DANA HOLDING CORP	$898,000	–	85,000	–	0.89%	–
SJR	New	SHAW COMMUNICATIONS INC B	$893,000	–	46,500	–	0.89%	–
UPS	New	UNITED PARCEL SERVICE-CL B	$883,000	–	8,200	–	0.88%	–
AVX	New	AVX CORP	$883,000	–	65,000	–	0.88%	–
CNK	New	CINEMARK HOLDINGS INC	$882,000	–	24,200	–	0.88%	–
ARRS	New	ARRIS INTERNATIONAL PLC	$880,000	–	42,000	–	0.88%	–
AAL	New	AMERICAN AIRLINES GROUP INC	$878,000	–	31,000	–	0.87%	–
IP	New	INTERNATIONAL PAPER CO	$877,000	–	20,700	–	0.87%	–
EMR	New	EMERSON ELECTRIC CO	$866,000	–	16,600	–	0.86%	–
TKR	New	TIMKEN CO	$858,000	–	28,000	–	0.85%	–
PCAR	New	PACCAR INC	$856,000	–	16,500	–	0.85%	–
R	New	RYDER SYSTEM INC	$856,000	–	14,000	–	0.85%	–
EV	New	EATON VANCE CORP	$855,000	–	24,200	–	0.85%	–
PG	New	PROCTER & GAMBLE CO	$847,000	–	10,000	–	0.84%	–
PKG	New	PACKAGING CORP OF AMERICA	$837,000	–	12,500	–	0.83%	–
QCOM	New	QUALCOMM INC	$836,000	–	15,600	–	0.83%	–
CBI	New	CHICAGO BRIDGE & IRON-NY SHR	$831,000	–	24,000	–	0.83%	–
SIEGY	New	SIEMENS AG SPONS ADRadrs	$831,000	–	8,100	–	0.83%	–
NAVI	New	NAVIENT CORP	$827,000	–	69,200	–	0.82%	–
ESND	New	ESSENDANT INC	$825,000	–	27,000	–	0.82%	–
GATX	New	GATX CORP	$822,000	–	18,700	–	0.82%	–
ORI	New	OLD REPUBLIC INTL CORP	$812,000	–	42,100	–	0.81%	–
AMRK	New	A-MARK PRECIOUS METALS INC	$809,000	–	50,000	–	0.80%	–
SYNA	New	SYNAPTICS INC	$806,000	–	15,000	–	0.80%	–
VIAB	New	VIACOM INC-CLASS B	$800,000	–	19,300	–	0.80%	–
BBY	New	BEST BUY CO INC	$793,000	–	25,900	–	0.79%	–
TLFA	New	TANDY LEATHER FACTORY INC	$771,000	–	100,000	–	0.77%	–
ORBK	New	ORBOTECH LTD	$767,000	–	30,000	–	0.76%	–
EAT	New	BRINKER INTERNATIONAL INC	$760,000	–	16,700	–	0.76%	–
JPM	New	JPMORGAN CHASE & CO	$752,000	–	12,100	–	0.75%	–
CAJ	New	CANON INC-SPONS ADRadrs	$750,000	–	26,200	–	0.75%	–
AYR	New	AIRCASTLE LTD	$737,000	–	37,700	–	0.73%	–
AFSI	New	AMTRUST FINANCIAL SERVICES	$735,000	–	30,000	–	0.73%	–
ACU	New	ACME UNITED CORP	$732,000	–	40,000	–	0.73%	–
WSTC	New	WEST CORP	$720,000	–	36,600	–	0.72%	–
MFC	New	MANULIFE FINANCIAL CORP	$714,000	–	52,200	–	0.71%	–
RICK	New	RCI HOSPITALITY HOLDINGS INC	$713,000	–	70,000	–	0.71%	–
WPP	New	WPP GROUP PLC-SPONSORED ADRadrs	$711,000	–	6,800	–	0.71%	–
MIK	New	MICHAELS STORES INC	$711,000	–	25,000	–	0.71%	–
F	New	FORD MOTOR CO	$708,000	–	56,300	–	0.70%	–
MTOR	New	MERITOR INC	$698,000	–	97,000	–	0.69%	–
LYB	New	LYONDELLBASELL INDU-CL A	$685,000	–	9,200	–	0.68%	–
GPS	New	GAP INC/THE	$660,000	–	31,100	–	0.66%	–
MNTX	New	MANITEX INTERNATIONAL INC	$658,000	–	95,000	–	0.65%	–
MKSI	New	MKS INSTRUMENTS INC.	$646,000	–	15,000	–	0.64%	–
DBD	New	DIEBOLD INC	$641,000	–	25,800	–	0.64%	–
	New	MAIDEN HOLDINGS LTD	$632,000	–	51,600	–	0.63%	–
KSS	New	KOHLS CORP	$622,000	–	16,400	–	0.62%	–
TSEM	New	TOWER SEMICONDUCTOR LTD	$621,000	–	50,000	–	0.62%	–
WDC	New	WESTERN DIGITAL CORP	$619,000	–	13,100	–	0.62%	–
BLBD	New	BLUE BIRD CORPORATION	$595,000	–	50,000	–	0.59%	–
FLEX	New	FLEXTRONICS INTL LTD	$590,000	–	50,000	–	0.59%	–
GOOGL	New	ALPHABET INC-CL A	$563,000	–	800	–	0.56%	–
PCMI	New	PCM INC	$557,000	–	50,000	–	0.55%	–
TOWR	New	TOWER INTERNATIONAL INC	$556,000	–	27,000	–	0.55%	–
GOOG	New	ALPHABET INC-CL C	$555,000	–	802	–	0.55%	–
SPA	New	SPARTON CORP	$544,000	–	25,000	–	0.54%	–
NLS	New	NAUTILUS INC	$535,000	–	30,000	–	0.53%	–
AXL	New	AMERICAN AXLE & MFG HOLDINGS	$523,000	–	36,100	–	0.52%	–
FOGO	New	FOGO DE CHAO INC	$522,000	–	40,000	–	0.52%	–
M	New	MACY'S INC	$504,000	–	15,000	–	0.50%	–
ABTL	New	AUTOBYTEL INC	$485,000	–	35,000	–	0.48%	–
TBI	New	TRUEBLUE INC	$473,000	–	25,000	–	0.47%	–
IRDM	New	IRIDIUM COMMUNICATIONS INC	$444,000	–	50,000	–	0.44%	–
MCFT	New	MCBC HOLDINGS INC	$442,000	–	40,000	–	0.44%	–
UTHR	New	UNITED THERAPEUTICS CORP	$434,000	–	4,100	–	0.43%	–
CAI	New	CAI INTERNATIONAL INC	$375,000	–	50,000	–	0.37%	–
SHLM	New	SCHULMAN A INC	$366,000	–	15,000	–	0.36%	–
NNBR	New	NN INC	$350,000	–	25,000	–	0.35%	–
BBBY	New	BED BATH & BEYOND INC	$324,000	–	7,500	–	0.32%	–
SVU	New	SUPERVALU INC	$189,000	–	40,000	–	0.19%	–

Q4 2015

			Value		Shares		↓ Weighting
SVU	Exit	SUPERVALU INC	$0	–	-40,000	–	-0.34%	–
CPA	Exit	COPA HOLDINGS SA-CLASS A	$0	–	-7,200	–	-0.36%	–
BXLT	Exit	BAXALTA INC	$0	–	-9,900	–	-0.37%	–
BAX	Exit	BAXTER INTERNATIONAL INC	$0	–	-9,900	–	-0.38%	–
TGH	Exit	TEXTAINER GROUP HOLDINGS LTD	$0	–	-20,900	–	-0.41%	–
MTOR	Exit	MERITOR INC	$0	–	-37,000	–	-0.46%	–
JMBA	Exit	JAMBA INC	$0	–	-30,000	–	-0.50%	–
NLS	Exit	NAUTILUS INC	$0	–	-30,000	–	-0.53%	–
AMRK	Exit	A-MARK PRECIOUS METALS INC	$0	–	-40,000	–	-0.54%	–
NNBR	Exit	NN INC	$0	–	-25,000	–	-0.54%	–
ORBK	Exit	ORBOTECH LTD	$0	–	-30,000	–	-0.55%	–
LNDC	Exit	LANDEC CORP	$0	–	-40,000	–	-0.55%	–
TRP	Exit	TRANSCANADA CORP	$0	–	-15,000	–	-0.56%	–
LVS	Exit	LAS VEGAS SANDS CORP	$0	–	-12,500	–	-0.56%	–
BHP	Exit	BHP BILLITON LTD-SPON ADRadrs	$0	–	-15,300	–	-0.57%	–
STX	Exit	SEAGATE TECHNOLOGY	$0	–	-10,800	–	-0.57%	–
SHLM	Exit	SCHULMAN (A.) INC	$0	–	-15,000	–	-0.57%	–
GOOG	Exit	ALPABET INC-CL C	$0	–	-802	–	-0.58%	–
GEF	Exit	GREIF INC-CL A	$0	–	-15,300	–	-0.58%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-10,500	–	-0.59%	–
LXK	Exit	LEXMARK INTERNATIONAL INC-A	$0	–	-17,400	–	-0.59%	–
CAI	Exit	CAI INTERNATIONAL INC	$0	–	-50,000	–	-0.59%	–
CAT	Exit	CATERPILLAR INC	$0	–	-7,800	–	-0.60%	–
HP	Exit	HELMERICH & PAYNE	$0	–	-10,800	–	-0.60%	–
GOOGL	Exit	ALPABET INC-CL A	$0	–	-800	–	-0.60%	–
KLAC	Exit	KLA-TENCOR CORPORATION	$0	–	-10,300	–	-0.61%	–
EMR	Exit	EMERSON ELECTRIC CO	$0	–	-11,700	–	-0.61%	–
ETR	Exit	ENTERGY CORP	$0	–	-8,100	–	-0.62%	–
FLEX	Exit	FLEXTRONICS INTL LTD	$0	–	-50,000	–	-0.62%	–
SPA	Exit	SPARTON CORP	$0	–	-25,000	–	-0.63%	–
VRA	Exit	VERA BRADLEY INC	$0	–	-43,000	–	-0.64%	–
STR	Exit	QUESTAR CORP	$0	–	-28,100	–	-0.64%	–
AEG	Exit	AEGON N.V.-NY REG SHR	$0	–	-96,700	–	-0.66%	–
MNTX	Exit	MANITEX INTERNATIONAL INC	$0	–	-100,000	–	-0.66%	–
COH	Exit	COACH INC	$0	–	-19,500	–	-0.66%	–
BP	Exit	BP PLC-SPONS ADRadrs	$0	–	-18,800	–	-0.68%	–
ABTL	Exit	AUTOBYTEL INC	$0	–	-35,000	–	-0.69%	–
ERIC	Exit	ERICSSON (LM) TEL-SP ADRadrs	$0	–	-60,000	–	-0.69%	–
TUP	Exit	TUPPERWARE BRANDS CORP	$0	–	-11,900	–	-0.69%	–
AAOI	Exit	APPLIED OPTOELECTRONICS INC	$0	–	-32,000	–	-0.71%	–
ERI	Exit	ELDORADO RESORTS INC	$0	–	-67,164	–	-0.71%	–
CMC	Exit	COMMERCIAL METALS CO	$0	–	-45,000	–	-0.72%	–
RRD	Exit	RR DONNELLEY & SONS CO	$0	–	-43,200	–	-0.74%	–
DDAIF	Exit	DAIMLERCHRYSLER AG-REG	$0	–	-8,700	–	-0.75%	–
TOWR	Exit	TOWER INTERNATIONAL INC	$0	–	-27,000	–	-0.76%	–
TSEM	Exit	TOWER SEMICONDUCTOR LTD	$0	–	-50,000	–	-0.76%	–
NEWP	Exit	NEWPORT CORP	$0	–	-47,000	–	-0.76%	–
UFS	Exit	DOMTAR CORP	$0	–	-18,100	–	-0.76%	–
CA	Exit	CA INC	$0	–	-23,800	–	-0.76%	–
BCE	Exit	BCE INC	$0	–	-15,900	–	-0.77%	–
RCI	Exit	ROGERS COMMUNICATIONS -CL B	$0	–	-18,900	–	-0.77%	–
CAJ	Exit	CANON INC-SPONS ADRadrs	$0	–	-22,700	–	-0.78%	–
OMI	Exit	OWENS & MINOR INC	$0	–	-20,800	–	-0.78%	–
IRDM	Exit	IRIDIUM COMMUNICATIONS INC	$0	–	-109,000	–	-0.79%	–
DOW	Exit	DOW CHEMICAL	$0	–	-16,000	–	-0.80%	–
DEO	Exit	DIAGEO PLC-SPONSORED ADRadrs	$0	–	-6,300	–	-0.80%	–
TLFA	Exit	TANDY LEATHER FACTORY INC	$0	–	-95,000	–	-0.81%	–
ACU	Exit	ACME UNITED CORP	$0	–	-40,000	–	-0.81%	–
PM	Exit	PHILIP MORRIS INTERNATIONAL	$0	–	-8,800	–	-0.82%	–
T	Exit	AT&T INC	$0	–	-21,500	–	-0.82%	–
AYR	Exit	AIRCASTLE LTD	$0	–	-34,300	–	-0.83%	–
SYY	Exit	SYSCO CORP	$0	–	-18,200	–	-0.84%	–
WM	Exit	WASTE MANAGEMENT INC DEL	$0	–	-14,300	–	-0.84%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-11,700	–	-0.84%	–
AXL	Exit	AMERICAN AXLE & MFG HOLDINGS	$0	–	-36,100	–	-0.85%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-28,600	–	-0.85%	–
RICK	Exit	RCI HOSPITALITY HOLDINGS INC	$0	–	-70,000	–	-0.86%	–
TRI	Exit	THOMSON CORP	$0	–	-18,100	–	-0.86%	–
MDC	Exit	MDC HOLDINGS INC	$0	–	-28,300	–	-0.87%	–
GES	Exit	GUESS? INC	$0	–	-34,900	–	-0.88%	–
SNY	Exit	SANOFI-AVENTIS-ADRadrs	$0	–	-15,900	–	-0.89%	–
MCD	Exit	MCDONALDS CORP	$0	–	-7,700	–	-0.89%	–
LYB	Exit	LYONDELLBASELL INDU-CL A	$0	–	-9,100	–	-0.89%	–
M	Exit	MACY'S INC	$0	–	-15,000	–	-0.91%	–
AOSL	Exit	ALPHA & OMEGA SEMICONDUCTOR	$0	–	-100,000	–	-0.92%	–
MXIM	Exit	MAXIM INTEGRATED PRODUCTS	$0	–	-23,400	–	-0.92%	–
UTHR	Exit	UNITED THERAPEUTICS CORP	$0	–	-6,000	–	-0.93%	–
LMT	Exit	LOCKHEED MARTIN CORP	$0	–	-3,800	–	-0.93%	–
GAS	Exit	AGL RESOURCES	$0	–	-13,000	–	-0.94%	–
KHC	Exit	HJ HEINZ HOLDING CORP	$0	–	-12,000	–	-1.00%	–
BBBY	Exit	BED BATH & BEYOND INC	$0	–	-15,000	–	-1.01%	–
CMI	Exit	CUMMINS INC	$0	–	-8,000	–	-1.02%	–
ESND	Exit	ESSENDANT INC	$0	–	-27,000	–	-1.03%	–
AMGN	Exit	AMGEN INC	$0	–	-6,400	–	-1.04%	–
EMN	Exit	EASTMAN CHEMICAL COMPANY	$0	–	-14,300	–	-1.09%	–
AFL	Exit	AFLAC INC	$0	–	-16,000	–	-1.10%	–
ACM	Exit	AECOM	$0	–	-33,982	–	-1.10%	–
AFSI	Exit	AMTRUST FINANCIAL SERVICES	$0	–	-15,000	–	-1.11%	–
HAS	Exit	HASBRO INC	$0	–	-13,100	–	-1.11%	–
CBI	Exit	CHICAGO BRIDGE & IRON-NY SHR	$0	–	-24,000	–	-1.12%	–
DAN	Exit	DANA HOLDING CORP	$0	–	-60,000	–	-1.12%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-22,000	–	-1.15%	–
GM	Exit	GENERAL MOTORS CO	$0	–	-33,000	–	-1.17%	–
JCI	Exit	JOHNSON CONTROLS INC	$0	–	-24,000	–	-1.17%	–
FDX	Exit	FEDEX CORP	$0	–	-7,000	–	-1.19%	–
IBM	Exit	INTL BUSINESS MACHINES CORP	$0	–	-7,000	–	-1.20%	–
WHR	Exit	WHIRLPOOL CORP	$0	–	-7,000	–	-1.21%	–
OI	Exit	OWENS-ILLINOIS INC	$0	–	-50,000	–	-1.22%	–
CSCO	Exit	CISCO SYSTEMS INC	$0	–	-40,000	–	-1.24%	–
KORS	Exit	MICHAEL KORS HOLDINGS LTD	$0	–	-25,000	–	-1.24%	–
CELG	Exit	CELGENE CORP	$0	–	-9,800	–	-1.25%	–
NDAQ	Exit	NASDAQ OMX GROUP INC (THE)	$0	–	-20,000	–	-1.26%	–
ETN	Exit	EATON CORP PLC	$0	–	-20,800	–	-1.26%	–
SYMC	Exit	SYMANTEC CORP	$0	–	-55,000	–	-1.26%	–
NCR	Exit	NCR CORPORATION	$0	–	-47,800	–	-1.28%	–
ARRS	Exit	ARRIS GROUP INC	$0	–	-42,000	–	-1.28%	–
ORCL	Exit	ORACLE CORP	$0	–	-30,600	–	-1.30%	–
AL	Exit	AIR LEASE CORPORATION CL A	$0	–	-36,000	–	-1.31%	–
PRU	Exit	PRUDENTIAL FINANCIAL INC	$0	–	-14,600	–	-1.31%	–
TTM	Exit	TATA MOTORS LTDadrs	$0	–	-50,000	–	-1.32%	–
HUN	Exit	HUNTSMAN CORP	$0	–	-120,000	–	-1.37%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-78,000	–	-1.38%	–
MET	Exit	METLIFE INC	$0	–	-25,000	–	-1.39%	–
AAL	Exit	AMERICAN AIRLINES GROUP INC	$0	–	-31,000	–	-1.42%	–
AAPL	Exit	APPLE COMPUTER INC	$0	–	-11,200	–	-1.45%	–
SYNA	Exit	SYNAPTICS INC	$0	–	-15,000	–	-1.46%	–

Q3 2015

			Value		Shares		↓ Weighting
AAL	Buy	AMERICAN AIRLINES GROUP INC	$1,204,000	+50.7%	31,000	+55.0%	1.42%	+50.6%
MU	New	MICRON TECHNOLOGY INC	$1,168,000	–	78,000	–	1.38%	–
HUN	New	HUNTSMAN CORP	$1,163,000	–	120,000	–	1.37%	–
TTM	New	TATA MOTORS LTDadrs	$1,125,000	–	50,000	–	1.32%	–
PRU	Buy	PRUDENTIAL FINANCIAL INC	$1,113,000	+15.6%	14,600	+32.7%	1.31%	+15.5%
AL	Buy	AIR LEASE CORPORATION CL A	$1,113,000	+9.4%	36,000	+20.0%	1.31%	+9.3%
ORCL	Buy	ORACLE CORP	$1,105,000	+37.1%	30,600	+53.0%	1.30%	+37.1%
NCR	Buy	NCR CORPORATION	$1,087,000	+3.1%	47,800	+36.6%	1.28%	+3.1%
SYMC	Buy	SYMANTEC CORP	$1,071,000	+15.2%	55,000	+37.5%	1.26%	+15.2%
ETN	Buy	EATON CORP PLC	$1,067,000	+12.9%	20,800	+48.6%	1.26%	+12.8%
KORS	Buy	MICHAEL KORS HOLDINGS LTD	$1,056,000	+25.4%	25,000	+25.0%	1.24%	+25.3%
OI	Buy	OWENS-ILLINOIS INC	$1,036,000	+29.0%	50,000	+42.9%	1.22%	+29.0%
IBM	Buy	INTL BUSINESS MACHINES CORP	$1,015,000	+24.8%	7,000	+40.0%	1.20%	+24.7%
JCI	Buy	JOHNSON CONTROLS INC	$993,000	+17.9%	24,000	+41.2%	1.17%	+17.8%
DAN	New	DANA HOLDING CORP	$953,000	–	60,000	–	1.12%	–
AFL	Buy	AFLAC INC	$930,000	+24.7%	16,000	+33.3%	1.10%	+24.6%
CMI	Buy	CUMMINS INC	$869,000	+10.4%	8,000	+33.3%	1.02%	+10.4%
KHC	New	HJ HEINZ HOLDING CORP	$847,000	–	12,000	–	1.00%	–
AOSL	Buy	ALPHA & OMEGA SEMICONDUCTOR	$779,000	+48.7%	100,000	+66.7%	0.92%	+48.6%
RICK	Buy	RCI HOSPITALITY HOLDINGS INC	$729,000	+53.2%	70,000	+75.0%	0.86%	+52.9%
AXL	Buy	AMERICAN AXLE & MFG HOLDINGS	$720,000	+90.5%	36,100	+99.4%	0.85%	+90.6%
ACU	Buy	ACME UNITED CORP	$689,000	+26.9%	40,000	+33.3%	0.81%	+26.7%
TLFA	Buy	TANDY LEATHER FACTORY INC	$687,000	+33.1%	95,000	+58.3%	0.81%	+33.1%
IRDM	Buy	IRIDIUM COMMUNICATIONS INC	$670,000	+13.4%	109,000	+67.7%	0.79%	+13.4%
NEWP	Buy	NEWPORT CORP	$646,000	+70.4%	47,000	+135.0%	0.76%	+70.6%
TSEM	Buy	TOWER SEMICONDUCTOR LTD	$644,000	+19.3%	50,000	+42.9%	0.76%	+19.2%
TOWR	Buy	TOWER INTERNATIONAL INC	$642,000	+23.2%	27,000	+35.0%	0.76%	+23.1%
ABTL	New	AUTOBYTEL INC	$587,000	–	35,000	–	0.69%	–
MNTX	Buy	MANITEX INTERNATIONAL INC	$562,000	+83.7%	100,000	+150.0%	0.66%	+83.9%
GOOGL	New	ALPABET INC-CL A	$511,000	–	800	–	0.60%	–
CAI	Buy	CAI INTERNATIONAL INC	$504,000	-2.1%	50,000	+100.0%	0.59%	-2.3%
GOOG	New	ALPABET INC-CL C	$488,000	–	802	–	0.58%	–
SHLM	New	SCHULMAN (A.) INC	$487,000	–	15,000	–	0.57%	–
BXLT	New	BAXALTA INC	$312,000	–	9,900	–	0.37%	–
NTIC	Exit	NORTHERN TECHNOLOGIES INTL	$0	–	-24,283	–	-0.46%	–
GOOG	Exit	GOOGLE INC-CL C	$0	–	-802	–	-0.49%	–
GOOGL	Exit	GOOGLE INC-CL A	$0	–	-800	–	-0.51%	–
PIR	Exit	PIER 1 IMPORTS INC	$0	–	-40,000	–	-0.60%	–
REMY	Exit	REMY INTERNATIONAL INC	$0	–	-25,000	–	-0.65%	–
HILL	Exit	DOT HILL SYSTEMS CORP	$0	–	-125,000	–	-0.90%	–
KRFT	Exit	KRAFT FOODS GROUP INC	$0	–	-12,000	–	-1.20%	–

Q2 2015

			Value		Shares		↓ Weighting
AAPL	New	APPLE COMPUTER INC	$1,405,000	–	11,200	–	1.66%	–
MET	New	METLIFE INC	$1,400,000	–	25,000	–	1.65%	–
SYNA	New	SYNAPTICS INC	$1,301,000	–	15,000	–	1.53%	–
ARRS	New	ARRIS GROUP INC	$1,285,000	–	42,000	–	1.51%	–
WHR	New	WHIRLPOOL CORP	$1,211,000	–	7,000	–	1.43%	–
CBI	New	CHICAGO BRIDGE & IRON-NY SHR	$1,201,000	–	24,000	–	1.42%	–
FDX	New	FEDEX CORP	$1,193,000	–	7,000	–	1.40%	–
EMN	New	EASTMAN CHEMICAL COMPANY	$1,170,000	–	14,300	–	1.38%	–
CELG	New	CELGENE CORP	$1,134,000	–	9,800	–	1.34%	–
ACM	New	AECOM	$1,124,000	–	33,982	–	1.32%	–
GM	New	GENERAL MOTORS CO	$1,100,000	–	33,000	–	1.30%	–
CSCO	New	CISCO SYSTEMS INC	$1,098,000	–	40,000	–	1.29%	–
ESND	New	ESSENDANT INC	$1,060,000	–	27,000	–	1.25%	–
NCR	New	NCR CORPORATION	$1,054,000	–	35,000	–	1.24%	–
UTHR	New	UNITED THERAPEUTICS CORP	$1,044,000	–	6,000	–	1.23%	–
BBBY	New	BED BATH & BEYOND INC	$1,035,000	–	15,000	–	1.22%	–
KRFT	New	KRAFT FOODS GROUP INC	$1,022,000	–	12,000	–	1.20%	–
AL	New	AIR LEASE CORPORATION CL A	$1,017,000	–	30,000	–	1.20%	–
M	New	MACY'S INC	$1,012,000	–	15,000	–	1.19%	–
AFSI	New	AMTRUST FINANCIAL SERVICES	$983,000	–	15,000	–	1.16%	–
AMGN	New	AMGEN INC	$983,000	–	6,400	–	1.16%	–
HAS	New	HASBRO INC	$980,000	–	13,100	–	1.15%	–
NDAQ	New	NASDAQ OMX GROUP INC (THE)	$976,000	–	20,000	–	1.15%	–
MSFT	New	MICROSOFT CORP	$971,000	–	22,000	–	1.14%	–
PRU	New	PRUDENTIAL FINANCIAL INC	$963,000	–	11,000	–	1.13%	–
ETN	New	EATON CORP PLC	$945,000	–	14,000	–	1.11%	–
LYB	New	LYONDELLBASELL INDU-CL A	$942,000	–	9,100	–	1.11%	–
SYMC	New	SYMANTEC CORP	$930,000	–	40,000	–	1.10%	–
MDC	New	MDC HOLDINGS INC	$848,000	–	28,300	–	1.00%	–
JCI	New	JOHNSON CONTROLS INC	$842,000	–	17,000	–	0.99%	–
KORS	New	MICHAEL KORS HOLDINGS LTD	$842,000	–	20,000	–	0.99%	–
DOW	New	DOW CHEMICAL	$819,000	–	16,000	–	0.96%	–
IBM	New	INTL BUSINESS MACHINES CORP	$813,000	–	5,000	–	0.96%	–
MXIM	New	MAXIM INTEGRATED PRODUCTS	$809,000	–	23,400	–	0.95%	–
ORCL	New	ORACLE CORP	$806,000	–	20,000	–	0.95%	–
OI	New	OWENS-ILLINOIS INC	$803,000	–	35,000	–	0.95%	–
DDAIF	New	DAIMLERCHRYSLER AG-REG	$800,000	–	8,700	–	0.94%	–
AAL	New	AMERICAN AIRLINES GROUP INC	$799,000	–	20,000	–	0.94%	–
JPM	New	JPMORGAN CHASE & CO	$793,000	–	11,700	–	0.93%	–
SNY	New	SANOFI-AVENTIS-ADRadrs	$788,000	–	15,900	–	0.93%	–
CMI	New	CUMMINS INC	$787,000	–	6,000	–	0.93%	–
AYR	New	AIRCASTLE LTD	$778,000	–	34,300	–	0.92%	–
LXK	New	LEXMARK INTERNATIONAL INC-A	$769,000	–	17,400	–	0.91%	–
TUP	New	TUPPERWARE BRANDS CORP	$768,000	–	11,900	–	0.90%	–
HILL	New	DOT HILL SYSTEMS CORP	$765,000	–	125,000	–	0.90%	–
T	New	AT&T INC	$764,000	–	21,500	–	0.90%	–
HP	New	HELMERICH & PAYNE	$761,000	–	10,800	–	0.90%	–
GE	New	GENERAL ELECTRIC CO	$760,000	–	28,600	–	0.90%	–
RRD	New	RR DONNELLEY & SONS CO	$753,000	–	43,200	–	0.89%	–
BP	New	BP PLC-SPONS ADRadrs	$751,000	–	18,800	–	0.88%	–
UFS	New	DOMTAR CORP	$749,000	–	18,100	–	0.88%	–
AFL	New	AFLAC INC	$746,000	–	12,000	–	0.88%	–
CAJ	New	CANON INC-SPONS ADRadrs	$736,000	–	22,700	–	0.87%	–
MCD	New	MCDONALDS CORP	$732,000	–	7,700	–	0.86%	–
DEO	New	DIAGEO PLC-SPONSORED ADRadrs	$731,000	–	6,300	–	0.86%	–
CMC	New	COMMERCIAL METALS CO	$724,000	–	45,000	–	0.85%	–
AEG	New	AEGON N.V.-NY REG SHR	$716,000	–	96,700	–	0.84%	–
OMI	New	OWENS & MINOR INC	$707,000	–	20,800	–	0.83%	–
PM	New	PHILIP MORRIS INTERNATIONAL	$706,000	–	8,800	–	0.83%	–
LMT	New	LOCKHEED MARTIN CORP	$706,000	–	3,800	–	0.83%	–
CA	New	CA INC	$697,000	–	23,800	–	0.82%	–
BAX	New	BAXTER INTERNATIONAL INC	$692,000	–	9,900	–	0.82%	–
TRI	New	THOMSON CORP	$689,000	–	18,100	–	0.81%	–
SPA	New	SPARTON CORP	$683,000	–	25,000	–	0.80%	–
BCE	New	BCE INC	$676,000	–	15,900	–	0.80%	–
COH	New	COACH INC	$675,000	–	19,500	–	0.80%	–
RCI	New	ROGERS COMMUNICATIONS -CL B	$672,000	–	18,900	–	0.79%	–
GES	New	GUESS? INC	$669,000	–	34,900	–	0.79%	–
WM	New	WASTE MANAGEMENT INC DEL	$663,000	–	14,300	–	0.78%	–
CAT	New	CATERPILLAR INC	$662,000	–	7,800	–	0.78%	–
SYY	New	SYSCO CORP	$657,000	–	18,200	–	0.77%	–
LVS	New	LAS VEGAS SANDS CORP	$657,000	–	12,500	–	0.77%	–
EMR	New	EMERSON ELECTRIC CO	$649,000	–	11,700	–	0.76%	–
NLS	New	NAUTILUS INC	$645,000	–	30,000	–	0.76%	–
COP	New	CONOCOPHILLIPS	$645,000	–	10,500	–	0.76%	–
NNBR	New	NN INC	$638,000	–	25,000	–	0.75%	–
ERIC	New	ERICSSON (LM) TEL-SP ADRadrs	$626,000	–	60,000	–	0.74%	–
ORBK	New	ORBOTECH LTD	$624,000	–	30,000	–	0.74%	–
BHP	New	BHP BILLITON LTD-SPON ADRadrs	$623,000	–	15,300	–	0.73%	–
TRP	New	TRANSCANADA CORP	$609,000	–	15,000	–	0.72%	–
GAS	New	AGL RESOURCES	$605,000	–	13,000	–	0.71%	–
CPA	New	COPA HOLDINGS SA-CLASS A	$595,000	–	7,200	–	0.70%	–
IRDM	New	IRIDIUM COMMUNICATIONS INC	$591,000	–	65,000	–	0.70%	–
STR	New	QUESTAR CORP	$588,000	–	28,100	–	0.69%	–
KLAC	New	KLA-TENCOR CORPORATION	$579,000	–	10,300	–	0.68%	–
LNDC	New	LANDEC CORP	$577,000	–	40,000	–	0.68%	–
ETR	New	ENTERGY CORP	$571,000	–	8,100	–	0.67%	–
FLEX	New	FLEXTRONICS INTL LTD	$566,000	–	50,000	–	0.67%	–
AAOI	New	APPLIED OPTOELECTRONICS INC	$556,000	–	32,000	–	0.66%	–
REMY	New	REMY INTERNATIONAL INC	$553,000	–	25,000	–	0.65%	–
GEF	New	GREIF INC-CL A	$549,000	–	15,300	–	0.65%	–
TGH	New	TEXTAINER GROUP HOLDINGS LTD	$544,000	–	20,900	–	0.64%	–
ACU	New	ACME UNITED CORP	$543,000	–	30,000	–	0.64%	–
TSEM	New	TOWER SEMICONDUCTOR LTD	$540,000	–	35,000	–	0.64%	–
ERI	New	ELDORADO RESORTS INC	$525,000	–	67,164	–	0.62%	–
AOSL	New	ALPHA & OMEGA SEMICONDUCTOR	$524,000	–	60,000	–	0.62%	–
TOWR	New	TOWER INTERNATIONAL INC	$521,000	–	20,000	–	0.61%	–
TLFA	New	TANDY LEATHER FACTORY INC	$516,000	–	60,000	–	0.61%	–
CAI	New	CAI INTERNATIONAL INC	$515,000	–	25,000	–	0.61%	–
STX	New	SEAGATE TECHNOLOGY	$513,000	–	10,800	–	0.60%	–
PIR	New	PIER 1 IMPORTS INC	$505,000	–	40,000	–	0.60%	–
VRA	New	VERA BRADLEY INC	$485,000	–	43,000	–	0.57%	–
MTOR	New	MERITOR INC	$485,000	–	37,000	–	0.57%	–
RICK	New	RCI HOSPITALITY HOLDINGS INC	$476,000	–	40,000	–	0.56%	–
JMBA	New	JAMBA INC	$465,000	–	30,000	–	0.55%	–
GOOGL	New	GOOGLE INC-CL A	$432,000	–	800	–	0.51%	–
AMRK	New	A-MARK PRECIOUS METALS INC	$419,000	–	40,000	–	0.49%	–
GOOG	New	GOOGLE INC-CL C	$417,000	–	802	–	0.49%	–
NTIC	New	NORTHERN TECHNOLOGIES INTL	$391,000	–	24,283	–	0.46%	–
NEWP	New	NEWPORT CORP	$379,000	–	20,000	–	0.45%	–
AXL	New	AMERICAN AXLE & MFG HOLDINGS	$378,000	–	18,100	–	0.44%	–
SVU	New	SUPERVALU INC	$324,000	–	40,000	–	0.38%	–
MNTX	New	MANITEX INTERNATIONAL INC	$306,000	–	40,000	–	0.36%	–

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