Factorial Partners, LLC Activity Q4 2017-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
OAS	Sell	CHORD ENERGY CORPORATION	$5,415,731	+4.4%	33,416	-0.9%	3.96%	+10.5%
WFC	Buy	WELLS FARGO CO NEW	$3,832,668	+0.6%	93,800	+5.0%	2.80%	+6.4%
HD	Sell	HOME DEPOT INC	$3,353,976	-6.1%	11,100	-3.5%	2.45%	-0.6%
COF	Buy	CAPITAL ONE FINL CORP	$3,338,520	-4.6%	34,400	+7.5%	2.44%	+0.9%
CI	New	THE CIGNA GROUP	$3,089,556	–	10,800	–	2.26%	–
CSX	Sell	CSX CORP	$3,084,225	-11.6%	100,300	-2.0%	2.25%	-6.4%
GS	Buy	GOLDMAN SACHS GROUP INC	$3,028,615	+9.4%	9,360	+9.1%	2.21%	+15.8%
IJJ	Sell	ISHARES TRs&p mc 400vl etf	$2,957,249	-8.9%	29,300	-3.3%	2.16%	-3.6%
BMY	Sell	BRISTOL-MYERS SQUIBB CO	$2,907,804	-21.9%	50,100	-13.9%	2.12%	-17.3%
AER	Buy	AERCAP HOLDINGS NV	$2,776,281	+116.4%	44,300	+119.3%	2.03%	+128.9%
AL	Sell	AIR LEASE CORPcl a	$2,679,880	-28.8%	68,000	-24.4%	1.96%	-24.7%
K	Buy	KELLANOVA	$2,422,057	+108.9%	40,700	+136.6%	1.77%	+121.1%
TEVA	Buy	TEVA PHARMACEUTICAL INDS LTDsponsored ads	$2,346,000	+53.9%	230,000	+13.6%	1.71%	+62.8%
PRGO	Buy	PERRIGO CO PLC	$2,332,350	+9.2%	73,000	+16.1%	1.70%	+15.5%
DFS	Sell	DISCOVER FINL SVCS	$2,209,065	-53.6%	25,500	-37.3%	1.61%	-50.9%
FLT	New	FLEETCOR TECHNOLOGIES INC	$1,966,118	–	7,700	–	1.44%	–
TMHC	Sell	TAYLOR MORRISON HOME CORP	$1,960,060	-15.6%	46,000	-3.4%	1.43%	-10.7%
VTRS	Sell	VIATRIS INC	$1,900,022	-1.7%	192,700	-0.5%	1.39%	+4.0%
RGA	Sell	REINSURANCE GRP OF AMERICA I	$1,807,616	-8.5%	12,450	-12.6%	1.32%	-3.2%
LAD	Buy	LITHIA MTRS INC	$1,801,513	+0.4%	6,100	+3.4%	1.32%	+6.3%
	Buy	VITESSE ENERGY INC	$1,693,860	+57.5%	74,000	+54.2%	1.24%	+66.7%
	Buy	MASTERBRAND INC	$1,487,160	+6.2%	122,400	+1.7%	1.09%	+12.4%
DIN	Buy	DINE BRANDS GLOBAL INC	$1,483,500	+11.1%	30,000	+30.4%	1.08%	+17.6%
PFE	Sell	PFIZER INC	$1,432,944	-27.9%	43,200	-20.3%	1.05%	-23.7%
NOMD	Sell	NOMAD FOODS LTD	$1,346,970	-29.9%	88,500	-19.3%	0.98%	-25.7%
EAT	Buy	BRINKER INTL INC	$1,273,077	-9.2%	40,300	+5.2%	0.93%	-3.9%
GNTX	Sell	GENTEX CORP	$1,239,774	+8.4%	38,100	-2.6%	0.90%	+14.6%
	Sell	ZIMVIE INC	$1,189,424	-20.0%	126,400	-4.5%	0.87%	-15.3%
RSP	Buy	INVESCO EXCHANGE TRADED FD Ts&p500 eql wgt	$1,161,858	+3.5%	8,200	+9.3%	0.85%	+9.5%
ABG	Buy	ASBURY AUTOMOTIVE GROUP INC	$1,150,350	+21.1%	5,000	+26.6%	0.84%	+28.2%
MTG	Sell	MGIC INVT CORP WIS	$1,141,596	-12.4%	68,400	-17.1%	0.83%	-7.2%
PAHC	Buy	PHIBRO ANIMAL HEALTH CORP	$1,139,084	+1.1%	89,200	+8.5%	0.83%	+7.1%
MDC	Sell	M D C HLDGS INC	$1,104,964	-15.0%	26,800	-3.6%	0.81%	-10.0%
PLAY	New	DAVE & BUSTERS ENTMT INC	$1,075,030	–	29,000	–	0.78%	–
BLMN	Sell	BLOOMIN BRANDS INC	$1,074,583	-26.9%	43,700	-20.1%	0.78%	-22.7%
RDN	Buy	RADIAN GROUP INC	$1,067,175	+155.8%	42,500	+157.6%	0.78%	+170.5%
CAKE	Buy	CHEESECAKE FACTORY INC	$1,030,200	-6.9%	34,000	+6.2%	0.75%	-1.6%
BGS	Buy	B & G FOODS INC NEW	$1,021,637	+0.1%	103,300	+40.9%	0.75%	+6.0%
OSUR	Buy	ORASURE TECHNOLOGIES INC	$966,590	+30.4%	163,000	+10.1%	0.71%	+37.9%
CCS	Buy	CENTURY CMNTYS INC	$814,716	+172.6%	12,200	+212.8%	0.60%	+188.8%
AXP	Buy	AMERICAN EXPRESS CO	$775,788	+39.2%	5,200	+62.5%	0.57%	+47.3%
DVA	Sell	DAVITA INC	$737,334	-48.3%	7,800	-45.1%	0.54%	-45.3%
ANGO	Buy	ANGIODYNAMICS INC	$654,245	-19.1%	89,500	+15.5%	0.48%	-14.3%
IWN	Buy	ISHARES TRrus 2000 val etf	$637,085	+37.1%	4,700	+42.4%	0.46%	+44.9%
MHO	Sell	M/I HOMES INC	$630,300	-75.2%	7,500	-74.3%	0.46%	-73.8%
	Buy	XPERI INC	$562,020	-17.8%	57,000	+9.6%	0.41%	-13.1%
BEN	Sell	FRANKLIN RESOURCES INC	$540,760	-43.3%	22,000	-38.4%	0.40%	-40.0%
DELL	Sell	DELL TECHNOLOGIES INCcl c	$516,750	-66.5%	7,500	-73.7%	0.38%	-64.6%
OFIX	Sell	ORTHOFIX MED INC	$512,522	-32.7%	39,854	-5.5%	0.37%	-28.8%
CBRL	New	CRACKER BARREL OLD CTRY STOR	$463,680	–	6,900	–	0.34%	–
CRAI	Sell	CRA INTL INC	$419,867	-9.9%	4,167	-8.8%	0.31%	-4.7%
BJRI	Buy	BJS RESTAURANTS INC	$382,398	-21.4%	16,300	+6.5%	0.28%	-17.0%
OGN	Sell	ORGANON & CO	$329,840	-43.4%	19,000	-32.1%	0.24%	-40.0%
EGHT	Buy	8X8 INC NEW	$299,880	-29.8%	119,000	+17.8%	0.22%	-25.8%
FRGI	Sell	FIESTA RESTAURANT GROUP INC	$253,800	-6.0%	30,000	-11.8%	0.18%	-0.5%
FHN	Sell	FIRST HORIZON CORPORATION	$253,460	-48.9%	23,000	-47.7%	0.18%	-45.9%
CFG	Sell	CITIZENS FINL GROUP INC	$249,240	-37.5%	9,300	-39.2%	0.18%	-33.8%
FBHS	Sell	FORTUNE BRANDS INNOVATIONS I	$248,640	-68.6%	4,000	-63.6%	0.18%	-66.7%
VREX	New	VAREX IMAGING CORP	$242,391	–	12,900	–	0.18%	–
JHG	Sell	JANUS HENDERSON GROUP PLC	$206,560	-28.5%	8,000	-24.5%	0.15%	-24.1%
INGN	Sell	INOGEN INC	$172,782	-70.7%	33,100	-35.2%	0.13%	-69.0%
IHRT	Exit	IHEARTMEDIA INC	$0	–	-37,000	–	-0.09%	–
RLGY	Exit	ANYWHERE REAL ESTATE INC	$0	–	-23,000	–	-0.11%	–
LPSN	Exit	LIVEPERSON INC	$0	–	-37,000	–	-0.12%	–
	Exit	ENACT HLDGS INC	$0	–	-29,000	–	-0.50%	–
POST	Exit	POST HLDGS INC	$0	–	-10,000	–	-0.60%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-14,000	–	-0.74%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-8,700	–	-0.90%	–

Q2 2023

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$5,307,019	–	27,360	–	3.66%	–
OAS	New	CHORD ENERGY CORPORATION	$5,185,521	–	33,716	–	3.58%	–
URI	New	UNITED RENTALS INC	$5,032,681	–	11,300	–	3.47%	–
DFS	New	DISCOVER FINL SVCS	$4,755,795	–	40,700	–	3.28%	–
NSC	New	NORFOLK SOUTHN CORP	$4,217,736	–	18,600	–	2.91%	–
C	New	CITIGROUP INC	$4,115,976	–	89,400	–	2.84%	–
WFC	New	WELLS FARGO CO NEW	$3,811,324	–	89,300	–	2.63%	–
AL	New	AIR LEASE CORPcl a	$3,766,500	–	90,000	–	2.60%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$3,721,890	–	58,200	–	2.57%	–
HD	New	HOME DEPOT INC	$3,572,360	–	11,500	–	2.47%	–
COF	New	CAPITAL ONE FINL CORP	$3,499,840	–	32,000	–	2.42%	–
CSX	New	CSX CORP	$3,488,430	–	102,300	–	2.41%	–
IJJ	New	ISHARES TRs&p mc 400vl etf	$3,246,039	–	30,300	–	2.24%	–
NVT	New	NVENT ELECTRIC PLC	$3,208,707	–	62,100	–	2.22%	–
SPGI	New	S&P GLOBAL INC	$3,126,942	–	7,800	–	2.16%	–
GS	New	GOLDMAN SACHS GROUP INC	$2,767,393	–	8,580	–	1.91%	–
GL	New	GLOBE LIFE INC	$2,740,500	–	25,000	–	1.89%	–
MHO	New	M/I HOMES INC	$2,545,948	–	29,200	–	1.76%	–
ALSN	New	ALLISON TRANSMISSION HLDGS I	$2,427,780	–	43,000	–	1.68%	–
TMHC	New	TAYLOR MORRISON HOME CORP	$2,323,403	–	47,640	–	1.60%	–
TNL	New	TRAVEL PLUS LEISURE CO	$2,295,346	–	56,900	–	1.58%	–
GPI	New	GROUP 1 AUTOMOTIVE INC	$2,193,850	–	8,500	–	1.51%	–
PRGO	New	PERRIGO CO PLC	$2,135,455	–	62,900	–	1.47%	–
	New	ESAB CORPORATION	$2,036,124	–	30,600	–	1.40%	–
PFE	New	PFIZER INC	$1,988,056	–	54,200	–	1.37%	–
RGA	New	REINSURANCE GRP OF AMERICA I	$1,976,333	–	14,250	–	1.36%	–
TPH	New	TRI POINTE HOMES INC	$1,935,454	–	58,900	–	1.34%	–
VTRS	New	VIATRIS INC	$1,933,126	–	193,700	–	1.33%	–
NOMD	New	NOMAD FOODS LTD	$1,920,192	–	109,600	–	1.32%	–
LAD	New	LITHIA MTRS INC	$1,794,249	–	5,900	–	1.24%	–
UNH	New	UNITEDHEALTH GROUP INC	$1,663,014	–	3,460	–	1.15%	–
MSM	New	MSC INDL DIRECT INCcl a	$1,619,760	–	17,000	–	1.12%	–
ACI	New	ALBERTSONS COS INC	$1,571,040	–	72,000	–	1.08%	–
DELL	New	DELL TECHNOLOGIES INCcl c	$1,542,135	–	28,500	–	1.06%	–
TEVA	New	TEVA PHARMACEUTICAL INDS LTDsponsored ads	$1,524,825	–	202,500	–	1.05%	–
BVH	New	BLUEGREEN VACATIONS HLDG CORclass a	$1,494,092	–	41,910	–	1.03%	–
	New	ZIMVIE INC	$1,486,852	–	132,400	–	1.03%	–
BLMN	New	BLOOMIN BRANDS INC	$1,470,883	–	54,700	–	1.02%	–
DVA	New	DAVITA INC	$1,426,674	–	14,200	–	0.98%	–
EAT	New	BRINKER INTL INC	$1,401,780	–	38,300	–	0.97%	–
	New	MASTERBRAND INC	$1,400,252	–	120,400	–	0.97%	–
VEC	New	V2X INC	$1,335,890	–	26,955	–	0.92%	–
DIN	New	DINE BRANDS GLOBAL INC	$1,334,690	–	23,000	–	0.92%	–
MTG	New	MGIC INVT CORP WIS	$1,302,675	–	82,500	–	0.90%	–
MDC	New	M D C HLDGS INC	$1,300,206	–	27,800	–	0.90%	–
GNRC	New	GENERAC HLDGS INC	$1,297,431	–	8,700	–	0.90%	–
AER	New	AERCAP HOLDINGS NV	$1,283,104	–	20,200	–	0.89%	–
KBH	New	KB HOME	$1,246,211	–	24,100	–	0.86%	–
K	New	KELLOGG CO	$1,159,280	–	17,200	–	0.80%	–
GNTX	New	GENTEX CORP	$1,144,066	–	39,100	–	0.79%	–
PAHC	New	PHIBRO ANIMAL HEALTH CORP	$1,126,140	–	82,200	–	0.78%	–
RSP	New	INVESCO EXCHANGE TRADED FD Ts&p500 eql wgt	$1,122,300	–	7,500	–	0.78%	–
CAKE	New	CHEESECAKE FACTORY INC	$1,106,560	–	32,000	–	0.76%	–
GILD	New	GILEAD SCIENCES INC	$1,078,980	–	14,000	–	0.74%	–
	New	VITESSE ENERGY INC	$1,075,200	–	48,000	–	0.74%	–
BGS	New	B & G FOODS INC NEW	$1,020,336	–	73,300	–	0.70%	–
BEN	New	FRANKLIN RESOURCES INC	$953,547	–	35,700	–	0.66%	–
ABG	New	ASBURY AUTOMOTIVE GROUP INC	$949,659	–	3,950	–	0.66%	–
POST	New	POST HLDGS INC	$866,500	–	10,000	–	0.60%	–
ANGO	New	ANGIODYNAMICS INC	$808,325	–	77,500	–	0.56%	–
M	New	MACYS INC	$802,500	–	50,000	–	0.55%	–
FBHS	New	FORTUNE BRANDS INNOVATIONS I	$791,450	–	11,000	–	0.55%	–
OFIX	New	ORTHOFIX MED INC	$761,301	–	42,154	–	0.52%	–
OSUR	New	ORASURE TECHNOLOGIES INC	$741,480	–	148,000	–	0.51%	–
EBIX	New	EBIX INC	$730,800	–	29,000	–	0.50%	–
	New	ENACT HLDGS INC	$728,770	–	29,000	–	0.50%	–
NCR	New	NCR CORP NEW	$710,640	–	28,200	–	0.49%	–
	New	XPERI INC	$683,800	–	52,000	–	0.47%	–
INGN	New	INOGEN INC	$590,205	–	51,100	–	0.41%	–
OGN	New	ORGANON & CO	$582,680	–	28,000	–	0.40%	–
IVOV	New	VANGUARD ADMIRAL FDS INCmidcp 400 val	$576,235	–	7,000	–	0.40%	–
AXP	New	AMERICAN EXPRESS CO	$557,440	–	3,200	–	0.38%	–
FHN	New	FIRST HORIZON CORPORATION	$495,880	–	44,000	–	0.34%	–
BJRI	New	BJS RESTAURANTS INC	$486,540	–	15,300	–	0.34%	–
CRAI	New	CRA INTL INC	$465,834	–	4,567	–	0.32%	–
IWN	New	ISHARES TRrus 2000 val etf	$464,640	–	3,300	–	0.32%	–
EGHT	New	8X8 INC NEW	$427,230	–	101,000	–	0.30%	–
RDN	New	RADIAN GROUP INC	$417,120	–	16,500	–	0.29%	–
UCTT	New	ULTRA CLEAN HLDGS INC	$407,676	–	10,600	–	0.28%	–
CFG	New	CITIZENS FINL GROUP INC	$399,024	–	15,300	–	0.28%	–
CCS	New	CENTURY CMNTYS INC	$298,818	–	3,900	–	0.21%	–
JHG	New	JANUS HENDERSON GROUP PLC	$288,850	–	10,600	–	0.20%	–
FRGI	New	FIESTA RESTAURANT GROUP INC	$269,960	–	34,000	–	0.19%	–
PGR	New	PROGRESSIVE CORP	$264,740	–	2,000	–	0.18%	–
AN	New	AUTONATION INC	$230,454	–	1,400	–	0.16%	–
LPSN	New	LIVEPERSON INC	$167,240	–	37,000	–	0.12%	–
RLGY	New	ANYWHERE REAL ESTATE INC	$153,640	–	23,000	–	0.11%	–
IHRT	New	IHEARTMEDIA INC	$134,680	–	37,000	–	0.09%	–
GIFI	New	GULF IS FABRICATION INC	$73,775	–	22,700	–	0.05%	–

Q4 2022

			Value		Shares		↓ Weighting
GIFI	Exit	GULF IS FABRICATION INC	$0	–	-25,700	–	-0.09%	–
RLGY	Exit	ANYWHERE REAL ESTATE INC	$0	–	-25,500	–	-0.18%	–
FRGI	Exit	FIESTA RESTAURANT GROUP INC	$0	–	-34,000	–	-0.19%	–
SGH	Exit	SMART GLOBAL HLDGS INC	$0	–	-14,000	–	-0.19%	–
FTI	Exit	TECHNIPFMC PLC	$0	–	-27,000	–	-0.20%	–
	Exit	BAUSCH PLUS LOMB CORP	$0	–	-15,700	–	-0.21%	–
EGHT	Exit	8X8 INC NEW	$0	–	-74,000	–	-0.22%	–
REYN	Exit	REYNOLDS CONSUMER PRODS INC	$0	–	-10,000	–	-0.23%	–
AIR	Exit	AAR CORP	$0	–	-8,943	–	-0.28%	–
LNC	Exit	LINCOLN NATL CORP IND	$0	–	-8,100	–	-0.31%	–
BJRI	Exit	BJS RESTAURANTS INC	$0	–	-15,600	–	-0.32%	–
NCR	Exit	NCR CORP NEW	$0	–	-20,800	–	-0.34%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-3,200	–	-0.38%	–
RAMP	Exit	LIVERAMP HLDGS INC	$0	–	-24,600	–	-0.39%	–
EBIX	Exit	EBIX INC	$0	–	-23,900	–	-0.39%	–
MDC	Exit	M D C HLDGS INC	$0	–	-17,000	–	-0.40%	–
CRAI	Exit	CRA INTL INC	$0	–	-5,267	–	-0.41%	–
IVOV	Exit	VANGUARD ADMIRAL FDS INCmidcp 400 val	$0	–	-3,500	–	-0.42%	–
PGR	Exit	PROGRESSIVE CORP	$0	–	-4,300	–	-0.43%	–
TCMD	Exit	TACTILE SYS TECHNOLOGY INC	$0	–	-66,700	–	-0.45%	–
IHRT	Exit	IHEARTMEDIA INC	$0	–	-71,000	–	-0.45%	–
	Exit	ZIMVIE INC	$0	–	-54,000	–	-0.46%	–
INGN	Exit	INOGEN INC	$0	–	-22,900	–	-0.48%	–
K	Exit	KELLOGG CO	$0	–	-8,100	–	-0.49%	–
MTG	Exit	MGIC INVT CORP WIS	$0	–	-46,500	–	-0.52%	–
VEC	Exit	V2X INC	$0	–	-16,955	–	-0.52%	–
CCS	Exit	CENTURY CMNTYS INC	$0	–	-14,400	–	-0.54%	–
GTES	Exit	GATES INDL CORP PLC	$0	–	-65,000	–	-0.55%	–
FBHS	Exit	FORTUNE BRANDS HOME & SEC IN	$0	–	-12,000	–	-0.56%	–
VVV	Exit	VALVOLINE INC	$0	–	-26,700	–	-0.59%	–
OSUR	Exit	ORASURE TECHNOLOGIES INC	$0	–	-180,000	–	-0.59%	–
MSM	Exit	MSC INDL DIRECT INCcl a	$0	–	-9,600	–	-0.61%	–
M	Exit	MACYS INC	$0	–	-45,100	–	-0.61%	–
CFG	Exit	CITIZENS FINL GROUP INC	$0	–	-22,600	–	-0.68%	–
OFIX	Exit	ORTHOFIX MED INC	$0	–	-41,000	–	-0.68%	–
AN	Exit	AUTONATION INC	$0	–	-7,800	–	-0.69%	–
AER	Exit	AERCAP HOLDINGS NV	$0	–	-19,000	–	-0.70%	–
MRO	Exit	MARATHON OIL CORP	$0	–	-37,200	–	-0.73%	–
AFL	Exit	AFLAC INC	$0	–	-15,000	–	-0.73%	–
LAD	Exit	LITHIA MTRS INC	$0	–	-4,050	–	-0.76%	–
CAKE	Exit	CHEESECAKE FACTORY INC	$0	–	-30,500	–	-0.78%	–
BEN	Exit	FRANKLIN RESOURCES INC	$0	–	-41,900	–	-0.78%	–
JHG	Exit	JANUS HENDERSON GROUP PLC	$0	–	-47,600	–	-0.84%	–
	Exit	ESAB CORPORATION	$0	–	-33,000	–	-0.96%	–
BGS	Exit	B & G FOODS INC NEW	$0	–	-67,800	–	-0.97%	–
BLMN	Exit	BLOOMIN BRANDS INC	$0	–	-61,000	–	-0.97%	–
OGN	Exit	ORGANON & CO	$0	–	-48,000	–	-0.98%	–
RDN	Exit	RADIAN GROUP INC	$0	–	-58,600	–	-0.98%	–
PAHC	Exit	PHIBRO ANIMAL HEALTH CORP	$0	–	-85,700	–	-0.99%	–
DVA	Exit	DAVITA INC	$0	–	-15,000	–	-1.08%	–
GPI	Exit	GROUP 1 AUTOMOTIVE INC	$0	–	-8,800	–	-1.09%	–
GNTX	Exit	GENTEX CORP	$0	–	-53,100	–	-1.10%	–
EAT	Exit	BRINKER INTL INC	$0	–	-51,800	–	-1.12%	–
MHO	Exit	M/I HOMES INC	$0	–	-36,000	–	-1.13%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-21,300	–	-1.14%	–
TMHC	Exit	TAYLOR MORRISON HOME CORP	$0	–	-57,140	–	-1.16%	–
PRGO	Exit	PERRIGO CO PLC	$0	–	-37,900	–	-1.17%	–
ALSN	Exit	ALLISON TRANSMISSION HLDGS I	$0	–	-41,000	–	-1.20%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDS LTDsponsored ads	$0	–	-173,000	–	-1.21%	–
TPH	Exit	TRI POINTE HOMES INC	$0	–	-95,500	–	-1.25%	–
LPG	Exit	DORIAN LPG LTD	$0	–	-109,804	–	-1.29%	–
NOMD	Exit	NOMAD FOODS LTD	$0	–	-105,700	–	-1.30%	–
IWN	Exit	ISHARES TRrus 2000 val etf	$0	–	-12,400	–	-1.39%	–
DELL	Exit	DELL TECHNOLOGIES INCcl c	$0	–	-47,800	–	-1.42%	–
VTRS	Exit	VIATRIS INC	$0	–	-192,000	–	-1.42%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-23,900	–	-1.48%	–
NVT	Exit	NVENT ELECTRIC PLC	$0	–	-55,000	–	-1.51%	–
BIIB	Exit	BIOGEN INC	$0	–	-7,050	–	-1.63%	–
RGA	Exit	REINSURANCE GRP OF AMERICA I	$0	–	-15,650	–	-1.71%	–
TNL	Exit	TRAVEL PLUS LEISURE CO	$0	–	-64,000	–	-1.90%	–
HD	Exit	HOME DEPOT INC	$0	–	-8,250	–	-1.98%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-7,800	–	-2.07%	–
POST	Exit	POST HLDGS INC	$0	–	-29,750	–	-2.12%	–
GL	Exit	GLOBE LIFE INC	$0	–	-25,000	–	-2.16%	–
AL	Exit	AIR LEASE CORPcl a	$0	–	-87,000	–	-2.34%	–
IJJ	Exit	ISHARES TRs&p mc 400vl etf	$0	–	-30,700	–	-2.40%	–
PFE	Exit	PFIZER INC	$0	–	-65,600	–	-2.49%	–
URI	Exit	UNITED RENTALS INC	$0	–	-11,000	–	-2.58%	–
NSC	Exit	NORFOLK SOUTHN CORP	$0	–	-14,380	–	-2.62%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-10,990	–	-2.80%	–
CSX	Exit	CSX CORP	$0	–	-128,400	–	-2.97%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-85,100	–	-2.97%	–
DFS	Exit	DISCOVER FINL SVCS	$0	–	-39,000	–	-3.08%	–
COF	Exit	CAPITAL ONE FINL CORP	$0	–	-40,200	–	-3.22%	–
C	Exit	CITIGROUP INC	$0	–	-90,400	–	-3.27%	–
AAPL	Exit	APPLE INC	$0	–	-27,360	–	-3.28%	–
OAS	Exit	CHORD ENERGY CORPORATION	$0	–	-31,416	–	-3.73%	–

Q3 2022

			Value		Shares		↓ Weighting
OAS	Buy	CHORD ENERGY CORPORATION	$4,297,000	+207.1%	31,416	+173.2%	3.73%	+228.1%
COF	Buy	CAPITAL ONE FINL CORP	$3,705,000	+12.9%	40,200	+27.6%	3.22%	+20.6%
DFS	Buy	DISCOVER FINL SVCS	$3,546,000	-2.6%	39,000	+1.3%	3.08%	+4.1%
WFC	Buy	WELLS FARGO CO NEW	$3,423,000	+5.4%	85,100	+2.7%	2.97%	+12.6%
CSX	Buy	CSX CORP	$3,421,000	-3.7%	128,400	+5.0%	2.97%	+2.8%
GS	Sell	GOLDMAN SACHS GROUP INC	$3,221,000	-25.2%	10,990	-24.2%	2.80%	-20.0%
NSC	Sell	NORFOLK SOUTHN CORP	$3,015,000	-12.3%	14,380	-5.0%	2.62%	-6.3%
URI	Buy	UNITED RENTALS INC	$2,971,000	+14.3%	11,000	+2.8%	2.58%	+22.2%
PFE	Sell	PFIZER INC	$2,871,000	-20.3%	65,600	-4.5%	2.49%	-14.9%
AL	Buy	AIR LEASE CORPcl a	$2,698,000	+3.5%	87,000	+11.5%	2.34%	+10.5%
POST	Sell	POST HLDGS INC	$2,437,000	-16.1%	29,750	-15.6%	2.12%	-10.3%
HD	Buy	HOME DEPOT INC	$2,277,000	+17.7%	8,250	+17.0%	1.98%	+25.8%
BIIB	Sell	BIOGEN INC	$1,882,000	+4.3%	7,050	-20.3%	1.63%	+11.4%
NVT	Buy	NVENT ELECTRIC PLC	$1,739,000	+7.8%	55,000	+6.8%	1.51%	+15.2%
BMY	Sell	BRISTOL-MYERS SQUIBB CO	$1,699,000	-14.5%	23,900	-7.4%	1.48%	-8.7%
VTRS	Buy	VIATRIS INC	$1,636,000	-15.8%	192,000	+3.5%	1.42%	-9.9%
DELL	Buy	DELL TECHNOLOGIES INCcl c	$1,633,000	-0.7%	47,800	+34.3%	1.42%	+6.1%
NOMD	Buy	NOMAD FOODS LTD	$1,501,000	-7.3%	105,700	+30.5%	1.30%	-1.0%
TEVA	Buy	TEVA PHARMACEUTICAL INDS LTDsponsored ads	$1,396,000	+28.4%	173,000	+19.7%	1.21%	+37.1%
ALSN	Buy	ALLISON TRANSMISSION HLDGS I	$1,384,000	-8.9%	41,000	+3.8%	1.20%	-2.7%
PRGO	Buy	PERRIGO CO PLC	$1,352,000	+18.6%	37,900	+34.9%	1.17%	+26.6%
GILD	Buy	GILEAD SCIENCES INC	$1,314,000	+16.2%	21,300	+16.4%	1.14%	+24.2%
EAT	Buy	BRINKER INTL INC	$1,294,000	+171.8%	51,800	+139.8%	1.12%	+190.4%
GPI	Buy	GROUP 1 AUTOMOTIVE INC	$1,257,000	-8.6%	8,800	+8.6%	1.09%	-2.4%
PAHC	Buy	PHIBRO ANIMAL HEALTH CORP	$1,139,000	-18.1%	85,700	+17.9%	0.99%	-12.6%
RDN	Buy	RADIAN GROUP INC	$1,130,000	+270.5%	58,600	+278.1%	0.98%	+295.6%
OGN	Sell	ORGANON & CO	$1,123,000	-44.5%	48,000	-20.0%	0.98%	-40.8%
BLMN	Sell	BLOOMIN BRANDS INC	$1,118,000	-4.6%	61,000	-13.5%	0.97%	+1.9%
BGS	Sell	B & G FOODS INC NEW	$1,118,000	-45.8%	67,800	-21.9%	0.97%	-42.1%
	Buy	ESAB CORPORATION	$1,101,000	+67.8%	33,000	+120.0%	0.96%	+79.4%
JHG	Sell	JANUS HENDERSON GROUP PLC	$967,000	-26.6%	47,600	-15.0%	0.84%	-21.5%
BEN	Buy	FRANKLIN RESOURCES INC	$902,000	-5.6%	41,900	+2.2%	0.78%	+0.8%
CAKE	Buy	CHEESECAKE FACTORY INC	$893,000	+12.6%	30,500	+1.7%	0.78%	+20.2%
LAD	Buy	LITHIA MTRS INC	$869,000	+31.7%	4,050	+68.8%	0.76%	+40.9%
MRO	New	MARATHON OIL CORP	$840,000	–	37,200	–	0.73%	–
AN	Buy	AUTONATION INC	$795,000	+65.3%	7,800	+81.4%	0.69%	+76.5%
OFIX	Buy	ORTHOFIX MED INC	$784,000	+217.4%	41,000	+290.5%	0.68%	+238.8%
M	Buy	MACYS INC	$707,000	-3.8%	45,100	+12.5%	0.61%	+2.8%
MSM	Sell	MSC INDL DIRECT INCcl a	$699,000	-6.0%	9,600	-3.0%	0.61%	+0.3%
OSUR	Sell	ORASURE TECHNOLOGIES INC	$682,000	+29.2%	180,000	-7.7%	0.59%	+38.0%
FBHS	New	FORTUNE BRANDS HOME & SEC IN	$644,000	–	12,000	–	0.56%	–
GTES	Buy	GATES INDL CORP PLC	$634,000	-8.4%	65,000	+1.6%	0.55%	-2.0%
CCS	Buy	CENTURY CMNTYS INC	$616,000	+75.5%	14,400	+84.6%	0.54%	+87.7%
MTG	Sell	MGIC INVT CORP WIS	$596,000	-21.2%	46,500	-22.5%	0.52%	-15.6%
K	Sell	KELLOGG CO	$564,000	-12.1%	8,100	-10.0%	0.49%	-6.1%
INGN	Sell	INOGEN INC	$556,000	-8.7%	22,900	-9.1%	0.48%	-2.4%
	New	ZIMVIE INC	$533,000	–	54,000	–	0.46%	–
IHRT	New	IHEARTMEDIA INC	$520,000	–	71,000	–	0.45%	–
TCMD	Buy	TACTILE SYS TECHNOLOGY INC	$520,000	+20.4%	66,700	+12.7%	0.45%	+28.8%
PGR	Sell	PROGRESSIVE CORP	$500,000	-12.3%	4,300	-12.2%	0.43%	-6.3%
MDC	New	M D C HLDGS INC	$466,000	–	17,000	–	0.40%	–
EBIX	Buy	EBIX INC	$453,000	+30.2%	23,900	+16.0%	0.39%	+38.9%
RAMP	New	LIVERAMP HLDGS INC	$447,000	–	24,600	–	0.39%	–
NCR	Sell	NCR CORP NEW	$395,000	-42.6%	20,800	-5.9%	0.34%	-38.6%
BJRI	Sell	BJS RESTAURANTS INC	$372,000	-35.5%	15,600	-41.4%	0.32%	-31.1%
LNC	Sell	LINCOLN NATL CORP IND	$356,000	-66.9%	8,100	-64.8%	0.31%	-64.7%
REYN	Sell	REYNOLDS CONSUMER PRODS INC	$260,000	-81.7%	10,000	-80.8%	0.23%	-80.4%
EGHT	Buy	8X8 INC NEW	$255,000	-30.3%	74,000	+4.2%	0.22%	-25.6%
	Sell	BAUSCH PLUS LOMB CORP	$241,000	-19.7%	15,700	-20.3%	0.21%	-14.3%
FRGI	Buy	FIESTA RESTAURANT GROUP INC	$216,000	+16.1%	34,000	+30.8%	0.19%	+24.5%
RLGY	Sell	ANYWHERE REAL ESTATE INC	$207,000	-31.0%	25,500	-16.4%	0.18%	-26.2%
ZYXI	Exit	ZYNEX INC	$0	–	-10,000	–	-0.06%	–
OSPN	Exit	ONESPAN INC	$0	–	-13,200	–	-0.13%	–
UCTT	Exit	ULTRA CLEAN HLDGS INC	$0	–	-7,100	–	-0.17%	–
RRGB	Exit	RED ROBIN GOURMET BURGERS IN	$0	–	-35,600	–	-0.23%	–
NTUS	Exit	NATUS MED INC DEL	$0	–	-10,300	–	-0.28%	–
SOCL	Exit	GLOBAL X FDSsocial med etf	$0	–	-12,000	–	-0.32%	–
	Exit	QUIDELORTHO CORP	$0	–	-4,900	–	-0.39%	–
TDC	Exit	TERADATA CORP DEL	$0	–	-13,000	–	-0.39%	–
BHC	Exit	BAUSCH HEALTH COS INC	$0	–	-64,000	–	-0.44%	–
KBH	Exit	KB HOME	$0	–	-22,100	–	-0.51%	–
VREX	Exit	VAREX IMAGING CORP	$0	–	-37,600	–	-0.65%	–
WLL	Exit	WHITING PETE CORP NEW	$0	–	-33,800	–	-1.87%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-48,500	–	-2.00%	–

Q2 2022

			Value		Shares		↓ Weighting
GS	New	GOLDMAN SACHS GROUP INC	$4,304,000	–	14,490	–	3.50%	–
C	New	CITIGROUP INC	$4,157,000	–	90,400	–	3.38%	–
AAPL	New	APPLE INC	$3,741,000	–	27,360	–	3.04%	–
DFS	New	DISCOVER FINL SVCS	$3,641,000	–	38,500	–	2.96%	–
PFE	New	PFIZER INC	$3,602,000	–	68,700	–	2.93%	–
CSX	New	CSX CORP	$3,554,000	–	122,300	–	2.89%	–
NSC	New	NORFOLK SOUTHN CORP	$3,439,000	–	15,130	–	2.80%	–
COF	New	CAPITAL ONE FINL CORP	$3,282,000	–	31,500	–	2.67%	–
WFC	New	WELLS FARGO CO NEW	$3,247,000	–	82,900	–	2.64%	–
POST	New	POST HLDGS INC	$2,903,000	–	35,250	–	2.36%	–
IJJ	New	ISHARES TRs&p mc 400vl etf	$2,898,000	–	30,700	–	2.36%	–
SPGI	New	S&P GLOBAL INC	$2,629,000	–	7,800	–	2.14%	–
AL	New	AIR LEASE CORPcl a	$2,608,000	–	78,000	–	2.12%	–
URI	New	UNITED RENTALS INC	$2,599,000	–	10,700	–	2.11%	–
TNL	New	TRAVEL PLUS LEISURE CO	$2,484,000	–	64,000	–	2.02%	–
VZ	New	VERIZON COMMUNICATIONS INC	$2,461,000	–	48,500	–	2.00%	–
GL	New	GLOBE LIFE INC	$2,437,000	–	25,000	–	1.98%	–
WLL	New	WHITING PETE CORP NEW	$2,299,000	–	33,800	–	1.87%	–
BGS	New	B & G FOODS INC NEW	$2,064,000	–	86,800	–	1.68%	–
OGN	New	ORGANON & CO	$2,025,000	–	60,000	–	1.65%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$1,987,000	–	25,800	–	1.62%	–
VTRS	New	VIATRIS INC	$1,942,000	–	185,500	–	1.58%	–
HD	New	HOME DEPOT INC	$1,934,000	–	7,050	–	1.57%	–
RGA	New	REINSURANCE GRP OF AMERICA I	$1,836,000	–	15,650	–	1.49%	–
BIIB	New	BIOGEN INC	$1,805,000	–	8,850	–	1.47%	–
IWN	New	ISHARES TRrus 2000 val etf	$1,688,000	–	12,400	–	1.37%	–
LPG	New	DORIAN LPG LTD	$1,669,000	–	109,804	–	1.36%	–
DELL	New	DELL TECHNOLOGIES INCcl c	$1,645,000	–	35,600	–	1.34%	–
NOMD	New	NOMAD FOODS LTD	$1,619,000	–	81,000	–	1.32%	–
NVT	New	NVENT ELECTRIC PLC	$1,613,000	–	51,500	–	1.31%	–
TPH	New	TRI POINTE HOMES INC	$1,611,000	–	95,500	–	1.31%	–
ALSN	New	ALLISON TRANSMISSION HLDGS I	$1,519,000	–	39,500	–	1.24%	–
GNTX	New	GENTEX CORP	$1,485,000	–	53,100	–	1.21%	–
MHO	New	M/I HOMES INC	$1,428,000	–	36,000	–	1.16%	–
REYN	New	REYNOLDS CONSUMER PRODS INC	$1,418,000	–	52,000	–	1.15%	–
OAS	New	OASIS PETROLEUM INC	$1,399,000	–	11,500	–	1.14%	–
PAHC	New	PHIBRO ANIMAL HEALTH CORP	$1,391,000	–	72,700	–	1.13%	–
GPI	New	GROUP 1 AUTOMOTIVE INC	$1,375,000	–	8,100	–	1.12%	–
TMHC	New	TAYLOR MORRISON HOME CORP	$1,335,000	–	57,140	–	1.08%	–
JHG	New	JANUS HENDERSON GROUP PLC	$1,317,000	–	56,000	–	1.07%	–
DVA	New	DAVITA INC	$1,199,000	–	15,000	–	0.98%	–
BLMN	New	BLOOMIN BRANDS INC	$1,172,000	–	70,500	–	0.95%	–
PRGO	New	PERRIGO CO PLC	$1,140,000	–	28,100	–	0.93%	–
GILD	New	GILEAD SCIENCES INC	$1,131,000	–	18,300	–	0.92%	–
TEVA	New	TEVA PHARMACEUTICAL INDS LTDsponsored ads	$1,087,000	–	144,500	–	0.88%	–
LNC	New	LINCOLN NATL CORP IND	$1,076,000	–	23,000	–	0.88%	–
BEN	New	FRANKLIN RESOURCES INC	$956,000	–	41,000	–	0.78%	–
AFL	New	AFLAC INC	$830,000	–	15,000	–	0.68%	–
CFG	New	CITIZENS FINL GROUP INC	$807,000	–	22,600	–	0.66%	–
VREX	New	VAREX IMAGING CORP	$804,000	–	37,600	–	0.65%	–
CAKE	New	CHEESECAKE FACTORY INC	$793,000	–	30,000	–	0.64%	–
AER	New	AERCAP HOLDINGS NV	$778,000	–	19,000	–	0.63%	–
VVV	New	VALVOLINE INC	$770,000	–	26,700	–	0.63%	–
MTG	New	MGIC INVT CORP WIS	$756,000	–	60,000	–	0.61%	–
MSM	New	MSC INDL DIRECT INCcl a	$744,000	–	9,900	–	0.60%	–
M	New	MACYS INC	$735,000	–	40,100	–	0.60%	–
GTES	New	GATES INDL CORP PLC	$692,000	–	64,000	–	0.56%	–
NCR	New	NCR CORP NEW	$688,000	–	22,100	–	0.56%	–
LAD	New	LITHIA MTRS INC	$660,000	–	2,400	–	0.54%	–
	New	ESAB CORPORATION	$656,000	–	15,000	–	0.53%	–
K	New	KELLOGG CO	$642,000	–	9,000	–	0.52%	–
KBH	New	KB HOME	$629,000	–	22,100	–	0.51%	–
INGN	New	INOGEN INC	$609,000	–	25,200	–	0.50%	–
BJRI	New	BJS RESTAURANTS INC	$577,000	–	26,600	–	0.47%	–
PGR	New	PROGRESSIVE CORP	$570,000	–	4,900	–	0.46%	–
VEC	New	VECTRUS INC	$567,000	–	16,955	–	0.46%	–
BHC	New	BAUSCH HEALTH COS INC	$535,000	–	64,000	–	0.44%	–
OSUR	New	ORASURE TECHNOLOGIES INC	$528,000	–	195,000	–	0.43%	–
IVOV	New	VANGUARD ADMIRAL FDS INCmidcp 400 val	$506,000	–	3,500	–	0.41%	–
AN	New	AUTONATION INC	$481,000	–	4,300	–	0.39%	–
TDC	New	TERADATA CORP DEL	$481,000	–	13,000	–	0.39%	–
	New	QUIDELORTHO CORP	$476,000	–	4,900	–	0.39%	–
EAT	New	BRINKER INTL INC	$476,000	–	21,600	–	0.39%	–
CRAI	New	CRA INTL INC	$470,000	–	5,267	–	0.38%	–
AXP	New	AMERICAN EXPRESS CO	$444,000	–	3,200	–	0.36%	–
TCMD	New	TACTILE SYS TECHNOLOGY INC	$432,000	–	59,200	–	0.35%	–
SOCL	New	GLOBAL X FDSsocial med etf	$398,000	–	12,000	–	0.32%	–
AIR	New	AAR CORP	$374,000	–	8,943	–	0.30%	–
EGHT	New	8X8 INC NEW	$366,000	–	71,000	–	0.30%	–
CCS	New	CENTURY CMNTYS INC	$351,000	–	7,800	–	0.28%	–
EBIX	New	EBIX INC	$348,000	–	20,600	–	0.28%	–
NTUS	New	NATUS MED INC DEL	$338,000	–	10,300	–	0.28%	–
RDN	New	RADIAN GROUP INC	$305,000	–	15,500	–	0.25%	–
RLGY	New	ANYWHERE REAL ESTATE INC	$300,000	–	30,500	–	0.24%	–
	New	BAUSCH PLUS LOMB CORP	$300,000	–	19,700	–	0.24%	–
RRGB	New	RED ROBIN GOURMET BURGERS IN	$286,000	–	35,600	–	0.23%	–
OFIX	New	ORTHOFIX MED INC	$247,000	–	10,500	–	0.20%	–
SGH	New	SMART GLOBAL HLDGS INC	$229,000	–	14,000	–	0.19%	–
UCTT	New	ULTRA CLEAN HLDGS INC	$211,000	–	7,100	–	0.17%	–
FRGI	New	FIESTA RESTAURANT GROUP INC	$186,000	–	26,000	–	0.15%	–
FTI	New	TECHNIPFMC PLC	$182,000	–	27,000	–	0.15%	–
OSPN	New	ONESPAN INC	$157,000	–	13,200	–	0.13%	–
GIFI	New	GULF IS FABRICATION INC	$86,000	–	25,700	–	0.07%	–
ZYXI	New	ZYNEX INC	$80,000	–	10,000	–	0.06%	–

Q4 2021

			Value		Shares		↓ Weighting
DALN	Exit	DALLASNEWS CORPORATION	$0	–	-20,525	–	-0.10%	–
GIFI	Exit	GULF IS FABRICATION INC	$0	–	-40,700	–	-0.11%	–
MTRX	Exit	MATRIX SVC CO	$0	–	-15,400	–	-0.11%	–
SGH	Exit	SMART GLOBAL HLDGS INC	$0	–	-4,800	–	-0.15%	–
BBBY	Exit	BED BATH & BEYOND INC	$0	–	-14,000	–	-0.16%	–
PLAB	Exit	PHOTRONICS INC	$0	–	-18,000	–	-0.17%	–
PEP	Exit	PEPSICO INC	$0	–	-1,800	–	-0.18%	–
LAD	Exit	LITHIA MTRS INC	$0	–	-900	–	-0.19%	–
FTI	Exit	TECHNIPFMC PLC	$0	–	-40,000	–	-0.20%	–
SFE	Exit	SAFEGUARD SCIENTIFICS INC	$0	–	-39,000	–	-0.24%	–
BGS	Exit	B & G FOODS INC NEW	$0	–	-11,900	–	-0.24%	–
GLRE	Exit	GREENLIGHT CAPITAL RE LTDclass a	$0	–	-52,400	–	-0.26%	–
ICHR	Exit	ICHOR HOLDINGS	$0	–	-10,600	–	-0.30%	–
RRGB	Exit	RED ROBIN GOURMET BURGERS IN	$0	–	-20,000	–	-0.31%	–
SMG	Exit	SCOTTS MIRACLE-GRO COcl a	$0	–	-3,200	–	-0.32%	–
CRAI	Exit	CRA INTL INC	$0	–	-5,267	–	-0.36%	–
RLGY	Exit	REALOGY HLDGS CORP	$0	–	-30,500	–	-0.36%	–
ANGO	Exit	ANGIODYNAMICS INC	$0	–	-21,500	–	-0.38%	–
LPG	Exit	DORIAN LPG LTD	$0	–	-47,804	–	-0.40%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-3,600	–	-0.41%	–
IVOV	Exit	VANGUARD ADMIRAL FDS INCmidcp 400 val	$0	–	-3,800	–	-0.41%	–
FRGI	Exit	FIESTA RESTAURANT GROUP INC	$0	–	-59,000	–	-0.44%	–
MRK	Exit	MERCK & CO INC	$0	–	-8,900	–	-0.45%	–
VTRS	Exit	VIATRIS INC	$0	–	-49,200	–	-0.45%	–
BEN	Exit	FRANKLIN RESOURCES INC	$0	–	-23,000	–	-0.46%	–
M	Exit	MACYS INC	$0	–	-31,100	–	-0.48%	–
EBIX	Exit	EBIX INC	$0	–	-26,700	–	-0.49%	–
AVNS	Exit	AVANOS MED INC	$0	–	-23,400	–	-0.50%	–
AMPH	Exit	AMPHASTAR PHARMACEUTICALS IN	$0	–	-39,000	–	-0.50%	–
AFL	Exit	AFLAC INC	$0	–	-15,000	–	-0.53%	–
AIR	Exit	AAR CORP	$0	–	-24,443	–	-0.54%	–
XPER	Exit	XPERI HOLDING CORP	$0	–	-44,500	–	-0.57%	–
VEC	Exit	VECTRUS INC	$0	–	-17,955	–	-0.61%	–
HII	Exit	HUNTINGTON INGALLS INDS INC	$0	–	-4,700	–	-0.62%	–
PGR	Exit	PROGRESSIVE CORP	$0	–	-10,400	–	-0.64%	–
OSPN	Exit	ONESPAN INC	$0	–	-50,900	–	-0.65%	–
NTUS	Exit	NATUS MED INC DEL	$0	–	-38,800	–	-0.66%	–
GTES	Exit	GATES INDUSTRIAL CORPRATIN P	$0	–	-60,000	–	-0.66%	–
ZION	Exit	ZIONS BANCORPORATION N A	$0	–	-15,900	–	-0.67%	–
ALSN	Exit	ALLISON TRANSMISSION HLDGS I	$0	–	-28,000	–	-0.67%	–
OFIX	Exit	ORTHOFIX MED INC	$0	–	-27,500	–	-0.71%	–
TDC	Exit	TERADATA CORP DEL	$0	–	-18,600	–	-0.73%	–
WLL	Exit	WHITING PETE CORP NEW	$0	–	-18,600	–	-0.74%	–
MTG	Exit	MGIC INVT CORP WIS	$0	–	-73,000	–	-0.74%	–
VVV	Exit	VALVOLINE INC	$0	–	-37,000	–	-0.78%	–
BLMN	Exit	BLOOMIN BRANDS INC	$0	–	-49,000	–	-0.83%	–
NVT	Exit	NVENT ELECTRIC PLC	$0	–	-38,000	–	-0.84%	–
UNP	Exit	UNION PAC CORP	$0	–	-6,300	–	-0.84%	–
VREX	Exit	VAREX IMAGING CORP	$0	–	-44,100	–	-0.85%	–
EAT	Exit	BRINKER INTL INC	$0	–	-25,400	–	-0.85%	–
PAHC	Exit	PHIBRO ANIMAL HEALTH CORP	$0	–	-58,000	–	-0.85%	–
BIIB	Exit	BIOGEN INC	$0	–	-4,450	–	-0.86%	–
KBH	Exit	KB HOME	$0	–	-33,300	–	-0.88%	–
MHO	Exit	M/I HOMES INC	$0	–	-23,200	–	-0.91%	–
AL	Exit	AIR LEASE CORPcl a	$0	–	-35,900	–	-0.96%	–
REYN	Exit	REYNOLDS CONSUMER PRODS INC	$0	–	-53,000	–	-0.99%	–
TMHC	Exit	TAYLOR MORRISON HOME CORP	$0	–	-56,340	–	-0.99%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDS LTDsponsored ads	$0	–	-155,000	–	-1.03%	–
IWN	Exit	ISHARES TRrus 2000 val etf	$0	–	-9,700	–	-1.06%	–
LNC	Exit	LINCOLN NATL CORP IND	$0	–	-23,000	–	-1.08%	–
DVA	Exit	DAVITA INC	$0	–	-14,400	–	-1.14%	–
GPI	Exit	GROUP 1 AUTOMOTIVE INC	$0	–	-8,950	–	-1.14%	–
TPH	Exit	TRI POINTE HOMES INC	$0	–	-82,300	–	-1.18%	–
GNTX	Exit	GENTEX CORP	$0	–	-54,500	–	-1.22%	–
NOMD	Exit	NOMAD FOODS LTD	$0	–	-66,000	–	-1.24%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-26,800	–	-1.27%	–
BHC	Exit	BAUSCH HEALTH COS INC	$0	–	-68,000	–	-1.29%	–
AER	Exit	AERCAP HOLDINGS NV	$0	–	-35,500	–	-1.40%	–
PRGO	Exit	PERRIGO CO PLC	$0	–	-43,700	–	-1.41%	–
CMA	Exit	COMERICA INC	$0	–	-25,800	–	-1.41%	–
COF	Exit	CAPITAL ONE FINL CORP	$0	–	-13,200	–	-1.45%	–
GL	Exit	GLOBE LIFE INC	$0	–	-25,400	–	-1.54%	–
CSX	Exit	CSX CORP	$0	–	-77,200	–	-1.56%	–
CPB	Exit	CAMPBELL SOUP CO	$0	–	-56,000	–	-1.59%	–
FHN	Exit	FIRST HORIZON CORPORATION	$0	–	-144,000	–	-1.60%	–
OGN	Exit	ORGANON & CO	$0	–	-72,000	–	-1.61%	–
RSP	Exit	INVESCO EXCHANGE TRADED FD Ts&p500 eql wgt	$0	–	-16,700	–	-1.70%	–
IJJ	Exit	ISHARES TRs&p mc 400vl etf	$0	–	-27,100	–	-1.90%	–
URI	Exit	UNITED RENTALS INC	$0	–	-9,000	–	-2.15%	–
K	Exit	KELLOGG CO	$0	–	-49,600	–	-2.16%	–
TNL	Exit	TRAVEL PLUS LEISURE CO	$0	–	-60,000	–	-2.22%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-8,050	–	-2.33%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-63,400	–	-2.33%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-66,300	–	-2.67%	–
DFS	Exit	DISCOVER FINL SVCS	$0	–	-33,600	–	-2.81%	–
HD	Exit	HOME DEPOT INC	$0	–	-12,700	–	-2.84%	–
AAPL	Exit	APPLE INC	$0	–	-29,560	–	-2.84%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-15,800	–	-2.93%	–
NSC	Exit	NORFOLK SOUTHN CORP	$0	–	-18,100	–	-2.94%	–
CFG	Exit	CITIZENS FINL GROUP INC	$0	–	-92,600	–	-2.96%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-13,100	–	-3.02%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-95,900	–	-3.03%	–
C	Exit	CITIGROUP INC	$0	–	-76,500	–	-3.65%	–

Q3 2021

			Value		Shares		↓ Weighting
WFC	Buy	WELLS FARGO CO NEW	$4,451,000	+6.8%	95,900	+4.2%	3.03%	+7.6%
CFG	Buy	CITIZENS FINL GROUP INC	$4,350,000	+87.4%	92,600	+83.0%	2.96%	+89.0%
NSC	Buy	NORFOLK SOUTHN CORP	$4,330,000	+26.5%	18,100	+40.3%	2.94%	+27.5%
HD	Sell	HOME DEPOT INC	$4,169,000	+2.1%	12,700	-0.8%	2.84%	+3.0%
BMY	Buy	BRISTOL-MYERS SQUIBB CO	$3,923,000	-2.1%	66,300	+10.5%	2.67%	-1.4%
TNL	Buy	TRAVEL PLUS LEISURE CO	$3,272,000	-1.7%	60,000	+7.1%	2.22%	-0.9%
K	Buy	KELLOGG CO	$3,170,000	+12.0%	49,600	+12.7%	2.16%	+12.9%
URI	Buy	UNITED RENTALS INC	$3,158,000	+20.7%	9,000	+9.8%	2.15%	+21.7%
IJJ	Buy	ISHARES TRs&p mc 400vl etf	$2,792,000	+10.0%	27,100	+12.4%	1.90%	+10.9%
RSP	Buy	INVESCO EXCHANGE TRADED FD Ts&p500 eql wgt	$2,502,000	+6.4%	16,700	+7.1%	1.70%	+7.3%
FHN	New	FIRST HORIZON CORPORATION	$2,346,000	–	144,000	–	1.60%	–
CPB	Buy	CAMPBELL SOUP CO	$2,341,000	-7.5%	56,000	+0.9%	1.59%	-6.7%
CSX	Sell	CSX CORP	$2,296,000	-24.0%	77,200	-18.0%	1.56%	-23.4%
COF	Sell	CAPITAL ONE FINL CORP	$2,138,000	-25.7%	13,200	-29.0%	1.45%	-25.1%
CMA	Sell	COMERICA INC	$2,077,000	-22.8%	25,800	-31.6%	1.41%	-22.1%
AER	Sell	AERCAP HOLDINGS NV	$2,052,000	-1.1%	35,500	-12.3%	1.40%	-0.2%
BHC	Buy	BAUSCH HEALTH COS INC	$1,894,000	+17.4%	68,000	+23.6%	1.29%	+18.4%
GILD	Sell	GILEAD SCIENCES INC	$1,872,000	-14.5%	26,800	-15.7%	1.27%	-13.9%
NOMD	Buy	NOMAD FOODS LTD	$1,819,000	+3.8%	66,000	+6.5%	1.24%	+4.6%
GNTX	Buy	GENTEX CORP	$1,797,000	+15.6%	54,500	+16.0%	1.22%	+16.5%
TPH	Buy	TRI POINTE HOMES INC	$1,730,000	+38.5%	82,300	+41.2%	1.18%	+39.6%
GPI	Buy	GROUP 1 AUTOMOTIVE INC	$1,682,000	+65.1%	8,950	+35.6%	1.14%	+66.3%
IWN	Buy	ISHARES TRrus 2000 val etf	$1,554,000	+26.7%	9,700	+31.1%	1.06%	+27.7%
TMHC	Buy	TAYLOR MORRISON HOME CORP	$1,452,000	+36.2%	56,340	+39.7%	0.99%	+37.4%
REYN	Buy	REYNOLDS CONSUMER PRODS INC	$1,449,000	+8.5%	53,000	+20.5%	0.99%	+9.4%
AL	Buy	AIR LEASE CORPcl a	$1,412,000	+351.1%	35,900	+378.7%	0.96%	+355.0%
MHO	Buy	M/I HOMES INC	$1,341,000	+53.4%	23,200	+55.7%	0.91%	+54.6%
KBH	Buy	KB HOME	$1,296,000	+51.6%	33,300	+58.6%	0.88%	+52.7%
BIIB	Buy	BIOGEN INC	$1,259,000	+91.3%	4,450	+134.2%	0.86%	+92.8%
EAT	Buy	BRINKER INTL INC	$1,246,000	+99.4%	25,400	+151.5%	0.85%	+100.7%
UNP	Sell	UNION PAC CORP	$1,235,000	-42.7%	6,300	-35.7%	0.84%	-42.2%
NVT	Sell	NVENT ELECTRIC PLC	$1,229,000	-10.6%	38,000	-13.6%	0.84%	-9.9%
BLMN	Buy	BLOOMIN BRANDS INC	$1,225,000	+150.5%	49,000	+172.2%	0.83%	+152.4%
WLL	New	WHITING PETE CORP NEW	$1,086,000	–	18,600	–	0.74%	–
TDC	Buy	TERADATA CORP DEL	$1,067,000	+35.1%	18,600	+17.7%	0.73%	+36.2%
OFIX	Buy	ORTHOFIX MED INC	$1,048,000	+6.6%	27,500	+12.2%	0.71%	+7.5%
ALSN	Buy	ALLISON TRANSMISSION HLDGS I	$989,000	-0.5%	28,000	+12.0%	0.67%	+0.3%
ZION	Sell	ZIONS BANCORPORATION N A	$984,000	-63.6%	15,900	-68.9%	0.67%	-63.3%
GTES	New	GATES INDUSTRIAL CORPRATIN P	$976,000	–	60,000	–	0.66%	–
NTUS	Buy	NATUS MED INC DEL	$973,000	+39.8%	38,800	+44.8%	0.66%	+40.9%
OSPN	New	ONESPAN INC	$956,000	–	50,900	–	0.65%	–
XPER	Buy	XPERI HOLDING CORP	$838,000	-0.8%	44,500	+17.1%	0.57%	0.0%
AFL	Buy	AFLAC INC	$782,000	+32.5%	15,000	+36.4%	0.53%	+33.7%
AMPH	Buy	AMPHASTAR PHARMACEUTICALS IN	$741,000	+83.9%	39,000	+95.0%	0.50%	+85.3%
AVNS	New	AVANOS MED INC	$730,000	–	23,400	–	0.50%	–
M	Sell	MACYS INC	$703,000	-5.1%	31,100	-20.5%	0.48%	-4.4%
VTRS	Buy	VIATRIS INC	$667,000	-3.3%	49,200	+1.9%	0.45%	-2.6%
MRK	Sell	MERCK & CO INC	$668,000	-62.2%	8,900	-60.8%	0.45%	-61.9%
AXP	Sell	AMERICAN EXPRESS CO	$603,000	-67.1%	3,600	-67.6%	0.41%	-66.9%
LPG	Buy	DORIAN LPG LTD	$593,000	+20.8%	47,804	+37.4%	0.40%	+21.8%
RLGY	Sell	REALOGY HLDGS CORP	$535,000	-12.3%	30,500	-9.0%	0.36%	-11.7%
SMG	New	SCOTTS MIRACLE-GRO COcl a	$468,000	–	3,200	–	0.32%	–
RRGB	New	RED ROBIN GOURMET BURGERS IN	$461,000	–	20,000	–	0.31%	–
BGS	Sell	B & G FOODS INC NEW	$356,000	-60.1%	11,900	-56.2%	0.24%	-59.8%
SFE	New	SAFEGUARD SCIENTIFICS INC	$346,000	–	39,000	–	0.24%	–
FTI	Sell	TECHNIPFMC PLC	$301,000	-57.4%	40,000	-48.7%	0.20%	-56.9%
LAD	Buy	LITHIA MTRS INC	$285,000	+3.6%	900	+12.5%	0.19%	+4.3%
PEP	Sell	PEPSICO INC	$271,000	-92.9%	1,800	-93.1%	0.18%	-92.9%
PLAB	Sell	PHOTRONICS INC	$245,000	-48.1%	18,000	-49.6%	0.17%	-47.5%
BBBY	Sell	BED BATH & BEYOND INC	$242,000	-49.9%	14,000	-3.4%	0.16%	-49.4%
GIFI	Sell	GULF IS FABRICATION INC	$162,000	-31.9%	40,700	-22.8%	0.11%	-31.7%
MTRX	Sell	MATRIX SVC CO	$161,000	-21.1%	15,400	-20.6%	0.11%	-20.3%
DALN	New	DALLASNEWS CORPORATION	$140,000	–	20,525	–	0.10%	–
LCI	Exit	LANNET INC	$0	–	-21,000	–	-0.07%	–
SPXC	Exit	SPX CORP	$0	–	-4,200	–	-0.17%	–
UCTT	Exit	ULTRA CLEAN HLDGS INC	$0	–	-7,500	–	-0.27%	–
EPAY	Exit	BOTTOMLINE TECH DEL INC	$0	–	-21,500	–	-0.54%	–
BOX	Exit	BOX INCcl a	$0	–	-34,000	–	-0.59%	–
QDEL	Exit	QUIDEL CORP	$0	–	-8,300	–	-0.72%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-3,000	–	-0.87%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-16,300	–	-1.48%	–

Q2 2021

			Value		Shares		↓ Weighting
C	New	CITIGROUP INC	$5,412,000	–	76,500	–	3.65%	–
FB	New	FACEBOOK INCcl a	$4,555,000	–	13,100	–	3.07%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$4,391,000	–	15,800	–	2.96%	–
WFC	New	WELLS FARGO CO NEW	$4,167,000	–	92,000	–	2.81%	–
HD	New	HOME DEPOT INC	$4,082,000	–	12,800	–	2.75%	–
AAPL	New	APPLE INC	$4,049,000	–	29,560	–	2.73%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$4,009,000	–	60,000	–	2.70%	–
DFS	New	DISCOVER FINL SVCS	$3,975,000	–	33,600	–	2.68%	–
PEP	New	PEPSICO INC	$3,838,000	–	25,900	–	2.59%	–
VZ	New	VERIZON COMMUNICATIONS INC	$3,552,000	–	63,400	–	2.40%	–
NSC	New	NORFOLK SOUTHN CORP	$3,424,000	–	12,900	–	2.31%	–
TNL	New	TRAVEL PLUS LEISURE CO	$3,329,000	–	56,000	–	2.25%	–
SPGI	New	S&P GLOBAL INC	$3,304,000	–	8,050	–	2.23%	–
CSX	New	CSX CORP	$3,022,000	–	94,200	–	2.04%	–
COF	New	CAPITAL ONE FINL CORP	$2,877,000	–	18,600	–	1.94%	–
K	New	KELLOGG CO	$2,831,000	–	44,000	–	1.91%	–
ZION	New	ZIONS BANCORPORATION N A	$2,701,000	–	51,100	–	1.82%	–
CMA	New	COMERICA INC	$2,690,000	–	37,700	–	1.82%	–
URI	New	UNITED RENTALS INC	$2,616,000	–	8,200	–	1.76%	–
IJJ	New	ISHARES TRs&p mc 400vl etf	$2,539,000	–	24,100	–	1.71%	–
CPB	New	CAMPBELL SOUP CO	$2,530,000	–	55,500	–	1.71%	–
GL	New	GLOBE LIFE INC	$2,419,000	–	25,400	–	1.63%	–
RSP	New	INVESCO EXCHANGE TRADED FD Ts&p500 eql wgt	$2,351,000	–	15,600	–	1.59%	–
CFG	New	CITIZENS FINL GROUP INC	$2,321,000	–	50,600	–	1.57%	–
PG	New	PROCTER AND GAMBLE CO	$2,199,000	–	16,300	–	1.48%	–
GILD	New	GILEAD SCIENCES INC	$2,190,000	–	31,800	–	1.48%	–
OGN	New	ORGANON & CO	$2,179,000	–	72,000	–	1.47%	–
UNP	New	UNION PAC CORP	$2,155,000	–	9,800	–	1.45%	–
AER	New	AERCAP HOLDINGS NV	$2,074,000	–	40,500	–	1.40%	–
PRGO	New	PERRIGO CO PLC	$2,004,000	–	43,700	–	1.35%	–
AXP	New	AMERICAN EXPRESS CO	$1,834,000	–	11,100	–	1.24%	–
MRK	New	MERCK & CO INC	$1,765,000	–	22,700	–	1.19%	–
NOMD	New	NOMAD FOODS LTD	$1,753,000	–	62,000	–	1.18%	–
DVA	New	DAVITA INC	$1,734,000	–	14,400	–	1.17%	–
PAHC	New	PHIBRO ANIMAL HEALTH CORP	$1,675,000	–	58,000	–	1.13%	–
BHC	New	BAUSCH HEALTH COS INC	$1,613,000	–	55,000	–	1.09%	–
GNTX	New	GENTEX CORP	$1,555,000	–	47,000	–	1.05%	–
TEVA	New	TEVA PHARMACEUTICAL INDS LTDsponsored ads	$1,535,000	–	155,000	–	1.04%	–
LNC	New	LINCOLN NATL CORP IND	$1,445,000	–	23,000	–	0.98%	–
NVT	New	NVENT ELECTRIC PLC	$1,375,000	–	44,000	–	0.93%	–
REYN	New	REYNOLDS CONSUMER PRODS INC	$1,335,000	–	44,000	–	0.90%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$1,284,000	–	3,000	–	0.87%	–
TPH	New	TRI POINTE HOMES INC	$1,249,000	–	58,300	–	0.84%	–
IWN	New	ISHARES TRrus 2000 val etf	$1,227,000	–	7,400	–	0.83%	–
VVV	New	VALVOLINE INC	$1,201,000	–	37,000	–	0.81%	–
VREX	New	VAREX IMAGING CORP	$1,183,000	–	44,100	–	0.80%	–
TMHC	New	TAYLOR MORRISON HOME CORP	$1,066,000	–	40,340	–	0.72%	–
QDEL	New	QUIDEL CORP	$1,063,000	–	8,300	–	0.72%	–
PGR	New	PROGRESSIVE CORP	$1,021,000	–	10,400	–	0.69%	–
GPI	New	GROUP 1 AUTOMOTIVE INC	$1,019,000	–	6,600	–	0.69%	–
ALSN	New	ALLISON TRANSMISSION HLDGS I	$994,000	–	25,000	–	0.67%	–
MTG	New	MGIC INVT CORP WIS	$993,000	–	73,000	–	0.67%	–
HII	New	HUNTINGTON INGALLS INDS INC	$991,000	–	4,700	–	0.67%	–
OFIX	New	ORTHOFIX MED INC	$983,000	–	24,500	–	0.66%	–
AIR	New	AAR CORP	$947,000	–	24,443	–	0.64%	–
EBIX	New	EBIX INC	$905,000	–	26,700	–	0.61%	–
BGS	New	B & G FOODS INC NEW	$892,000	–	27,200	–	0.60%	–
MHO	New	M/I HOMES INC	$874,000	–	14,900	–	0.59%	–
BOX	New	BOX INCcl a	$869,000	–	34,000	–	0.59%	–
KBH	New	KB HOME	$855,000	–	21,000	–	0.58%	–
VEC	New	VECTRUS INC	$854,000	–	17,955	–	0.58%	–
XPER	New	XPERI HOLDING CORP	$845,000	–	38,000	–	0.57%	–
EPAY	New	BOTTOMLINE TECH DEL INC	$797,000	–	21,500	–	0.54%	–
FRGI	New	FIESTA RESTAURANT GROUP INC	$792,000	–	59,000	–	0.53%	–
TDC	New	TERADATA CORP DEL	$790,000	–	15,800	–	0.53%	–
M	New	MACYS INC	$741,000	–	39,100	–	0.50%	–
BEN	New	FRANKLIN RESOURCES INC	$736,000	–	23,000	–	0.50%	–
FTI	New	TECHNIPFMC PLC	$706,000	–	78,000	–	0.48%	–
NTUS	New	NATUS MED INC DEL	$696,000	–	26,800	–	0.47%	–
VTRS	New	VIATRIS INC	$690,000	–	48,300	–	0.47%	–
BIIB	New	BIOGEN INC	$658,000	–	1,900	–	0.44%	–
EAT	New	BRINKER INTL INC	$625,000	–	10,100	–	0.42%	–
IVOV	New	VANGUARD ADMIRAL FDS INCmidcp 400 val	$615,000	–	3,800	–	0.42%	–
RLGY	New	REALOGY HLDGS CORP	$610,000	–	33,500	–	0.41%	–
AFL	New	AFLAC INC	$590,000	–	11,000	–	0.40%	–
ANGO	New	ANGIODYNAMICS INC	$583,000	–	21,500	–	0.39%	–
ICHR	New	ICHOR HOLDINGS	$570,000	–	10,600	–	0.38%	–
LPG	New	DORIAN LPG LTD	$491,000	–	34,804	–	0.33%	–
BLMN	New	BLOOMIN BRANDS INC	$489,000	–	18,000	–	0.33%	–
BBBY	New	BED BATH & BEYOND INC	$483,000	–	14,500	–	0.33%	–
GLRE	New	GREENLIGHT CAPITAL RE LTDclass a	$478,000	–	52,400	–	0.32%	–
PLAB	New	PHOTRONICS INC	$472,000	–	35,700	–	0.32%	–
CRAI	New	CRA INTL INC	$451,000	–	5,267	–	0.30%	–
UCTT	New	ULTRA CLEAN HLDGS INC	$403,000	–	7,500	–	0.27%	–
AMPH	New	AMPHASTAR PHARMACEUTICALS IN	$403,000	–	20,000	–	0.27%	–
AL	New	AIR LEASE CORPcl a	$313,000	–	7,500	–	0.21%	–
LAD	New	LITHIA MTRS INC	$275,000	–	800	–	0.19%	–
SPXC	New	SPX CORP	$257,000	–	4,200	–	0.17%	–
GIFI	New	GULF IS FABRICATION INC	$238,000	–	52,700	–	0.16%	–
SGH	New	SMART GLOBAL HLDGS INC	$229,000	–	4,800	–	0.16%	–
MTRX	New	MATRIX SVC CO	$204,000	–	19,400	–	0.14%	–
LCI	New	LANNET INC	$98,000	–	21,000	–	0.07%	–

Q4 2020

			Value		Shares		↓ Weighting
ASRT	Exit	ASSERTIO THERAPEUTICS INC(DEL)	$0	–	-11,000	–	-0.01%	–
RVRA	Exit	RIVIERA RESOURCES INC	$0	–	-16,814	–	-0.03%	–
HTH	Exit	HILLTOP HOLDINGS INC	$0	–	-3,000	–	-0.06%	–
CCL	Exit	CARNIVAL CORP	$0	–	-5,000	–	-0.08%	–
IHRT	Exit	IHEARTMEDIA INC - CLASS A	$0	–	-9,700	–	-0.08%	–
RRGB	Exit	RED ROBIN GOURMET BURGERS	$0	–	-6,000	–	-0.08%	–
AZO	Exit	AUTOZONE INC	$0	–	-70	–	-0.08%	–
SG	Exit	SIRIUS INTERNATIONAL INSURANCE GROUP LTD COMMON	$0	–	-8,000	–	-0.09%	–
SPR	Exit	SPIRIT AERO HLDG-A	$0	–	-5,600	–	-0.11%	–
AHC	Exit	A H BELO CORP-A	$0	–	-82,100	–	-0.12%	–
GIFI	Exit	GULF ISLAND FABRICATION INC	$0	–	-52,700	–	-0.17%	–
NOMD	Exit	NOMAD FOODS LTD(NYS)	$0	–	-7,000	–	-0.18%	–
AYI	Exit	ACUITY BRANDS INC(NYS)	$0	–	-2,400	–	-0.25%	–
NEX	Exit	NEXTIER OILFIELD SOLUTIONS I	$0	–	-134,856	–	-0.26%	–
MTRX	Exit	MATRIX SERVICE CO	$0	–	-36,100	–	-0.31%	–
MTG	Exit	MGIC INVESTMENT CORP	$0	–	-37,000	–	-0.34%	–
GLRE	Exit	GREENLIGHT CAPITAL RE LTD-A(NSM)	$0	–	-48,900	–	-0.34%	–
MSTR	Exit	MICROSTRATEGY INC-CL A	$0	–	-2,220	–	-0.34%	–
M	Exit	MACY'S INC (NYS)	$0	–	-59,100	–	-0.34%	–
ICHR	Exit	ICHOR HOLDINGS LTD	$0	–	-16,300	–	-0.36%	–
IVOV	Exit	VANGUARD S&P MID-CAP 400 VAL	$0	–	-3,800	–	-0.41%	–
LCI	Exit	LANNETT CO INC	$0	–	-68,000	–	-0.42%	–
CPB	Exit	CAMPBELL SOUP CO(NYS)	$0	–	-9,100	–	-0.45%	–
BJRI	Exit	BJ'S RESTAURANTS INC	$0	–	-15,300	–	-0.46%	–
UCTT	Exit	ULTRA CLEAN HOLDINGS INC(NSM)	$0	–	-21,100	–	-0.46%	–
TOL	Exit	TOLL BROTHERS INC(NYS)	$0	–	-9,500	–	-0.47%	–
AIR	Exit	AAR CORP(NYS)	$0	–	-24,943	–	-0.48%	–
EQH	Exit	EQUITABLE HOLDINGS INC	$0	–	-26,000	–	-0.48%	–
SXI	Exit	STANDEX INTERNATIONAL CORP(NYS)	$0	–	-8,500	–	-0.51%	–
ANGO	Exit	ANGIODYNAMICS INC	$0	–	-42,000	–	-0.52%	–
RLGY	Exit	REALOGY HOLDINGS CORP	$0	–	-56,500	–	-0.54%	–
OFIX	Exit	ORTHOFIX MEDICAL INC	$0	–	-17,700	–	-0.56%	–
NTUS	Exit	NATUS MEDICAL INC(NSM)	$0	–	-32,300	–	-0.56%	–
LNC	Exit	LINCOLN NATIONAL CORP(NYS)	$0	–	-17,800	–	-0.57%	–
CVLT	Exit	COMMVAULT SYSTEMS INC(NSM)	$0	–	-14,700	–	-0.61%	–
HDS	Exit	HD SUPPLY HOLDINGS INC(NSM)	$0	–	-15,100	–	-0.64%	–
PLAB	Exit	PHOTRONICS INC(NSM)	$0	–	-64,700	–	-0.66%	–
SGH	Exit	SMART GLOBAL HOLDINGS INC	$0	–	-23,700	–	-0.66%	–
INGN	Exit	INOGEN INC(NSM)	$0	–	-22,400	–	-0.66%	–
VREX	Exit	VAREX IMAGING CORP	$0	–	-51,500	–	-0.67%	–
TPRE	Exit	THIRD POINT REINSURANCE LTD	$0	–	-96,000	–	-0.68%	–
VEC	Exit	VECTRUS INC(NYS)	$0	–	-17,955	–	-0.70%	–
TDC	Exit	TERADATA CORP (NYS)	$0	–	-31,100	–	-0.72%	–
AMCX	Exit	AMC NETWORKS INC-A	$0	–	-28,800	–	-0.73%	–
FRGI	Exit	FIESTA RESTAURANT GROUP	$0	–	-78,500	–	-0.75%	–
CAKE	Exit	CHEESECAKE FACTORY INC/THE(NSM)	$0	–	-27,000	–	-0.76%	–
WDR	Exit	WADDELL & REED FINANCIAL-A(NYS)	$0	–	-50,500	–	-0.77%	–
ALSN	Exit	ALLISON TRANSMISSION HOLDING(NYS)	$0	–	-21,400	–	-0.77%	–
DIN	Exit	DINE BRANDS GLOBAL INC	$0	–	-14,100	–	-0.79%	–
GNTX	Exit	GENTEX CORP(NSM)	$0	–	-30,000	–	-0.79%	–
BEN	Exit	FRANKLIN RESOURCES INC(NYS)	$0	–	-38,100	–	-0.79%	–
PGR	Exit	PROGRESSIVE CORP	$0	–	-8,200	–	-0.79%	–
BLMN	Exit	BLOOMIN' BRANDS INC(NSM)	$0	–	-52,300	–	-0.82%	–
MYL	Exit	MYLAN NV	$0	–	-55,000	–	-0.83%	–
RSP	Exit	INVESCO S&P 500 EQUAL WEIGHT ETF	$0	–	-7,600	–	-0.84%	–
PAHC	Exit	PHIBRO ANIMAL HEALTH CORP-A(NMS)	$0	–	-48,000	–	-0.85%	–
NVT	Exit	NVENT ELECTRIC PLC	$0	–	-49,000	–	-0.89%	–
SPXC	Exit	SPX CORP(NYS)	$0	–	-18,700	–	-0.89%	–
MHO	Exit	M/I HOMES INC	$0	–	-19,000	–	-0.89%	–
TPH	Exit	TRI POINTE GROUP INC	$0	–	-49,300	–	-0.91%	–
LAD	Exit	LITHIA MOTORS INC-CL A	$0	–	-3,950	–	-0.92%	–
CCS	Exit	CENTURY COMMUNITIES INC	$0	–	-21,600	–	-0.93%	–
TMHC	Exit	TAYLOR MORRISON HOME CORP	$0	–	-38,240	–	-0.96%	–
BHC	Exit	BAUSCH HEALTH COS INC	$0	–	-61,000	–	-0.97%	–
VIAC	Exit	VIACOMCBS INC - CLASS B	$0	–	-34,208	–	-0.98%	–
GPI	Exit	GROUP 1 AUTOMOTIVE INC	$0	–	-11,000	–	-0.99%	–
ZION	Exit	ZIONS BANCORP NA	$0	–	-34,700	–	-1.04%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-16,400	–	-1.06%	–
AER	Exit	AERCAP HOLDINGS NV	$0	–	-41,500	–	-1.07%	–
EAT	Exit	BRINKER INTERNATIONAL INC(NYS)	$0	–	-26,700	–	-1.16%	–
VVV	Exit	VALVOLINE INC	$0	–	-62,500	–	-1.22%	–
DVA	Exit	DAVITA INC (NYS)	$0	–	-14,500	–	-1.27%	–
POST	Exit	POST HOLDINGS INC (NYS)	$0	–	-14,900	–	-1.31%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-22,200	–	-1.35%	–
IJJ	Exit	S&P MIDCAP 400 Value	$0	–	-10,100	–	-1.39%	–
TEVA	Exit	TEVA PHARMACEUTICAL-SP ADR	$0	–	-155,000	–	-1.43%	–
CFG	Exit	CITIZENS FINANCIAL GROUP	$0	–	-55,300	–	-1.43%	–
BGS	Exit	B&G FOODS INC	$0	–	-53,000	–	-1.50%	–
K	Exit	KELLOGG CO	$0	–	-26,600	–	-1.76%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO(NYS)	$0	–	-31,650	–	-1.95%	–
DFS	Exit	DISCOVER FINANCIAL SERVICES	$0	–	-33,700	–	-1.99%	–
CMA	Exit	COMERICA INC(NYS)	$0	–	-51,100	–	-2.00%	–
IWN	Exit	ISHARES RUSSELL 2000 VALUE	$0	–	-19,800	–	-2.01%	–
WYND	Exit	WYNDHAM DESTINATIONS INC	$0	–	-64,000	–	-2.01%	–
PRGO	Exit	PERRIGO CO PLC (NYS)	$0	–	-43,700	–	-2.05%	–
URI	Exit	UNITED RENTALS INC	$0	–	-12,100	–	-2.16%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-23,000	–	-2.36%	–
GL	Exit	GLOBE LIFE INC	$0	–	-29,200	–	-2.38%	–
CSX	Exit	CSX CORP(NSM)	$0	–	-30,900	–	-2.45%	–
NSC	Exit	NORFOLK SOUTHERN CORP	$0	–	-13,650	–	-2.98%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-8,850	–	-3.26%	–
BIIB	Exit	BIOGEN INC(NYS)	$0	–	-11,550	–	-3.35%	–
C	Exit	CITIGROUP INC(ADF)	$0	–	-77,000	–	-3.39%	–
COF	Exit	CAPITAL ONE FINANCIAL CORP	$0	–	-46,200	–	-3.39%	–
AAPL	Exit	APPLE INC(NYS)	$0	–	-29,560	–	-3.50%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC-CL B	$0	–	-25,900	–	-5.64%	–

Q3 2020

			Value		Shares		↓ Weighting
BRKB	Buy	BERKSHIRE HATHAWAY INC-CL B	$5,515,146,000	+43.0%	25,900	+19.9%	5.64%	+33.4%
AAPL	Buy	APPLE INC(NYS)	$3,423,344,000	+2.6%	29,560	+223.1%	3.50%	-4.3%
COF	Buy	CAPITAL ONE FINANCIAL CORP	$3,319,932,000	+17.4%	46,200	+2.2%	3.39%	+9.5%
SPGI	Sell	S&P GLOBAL INC	$3,191,310,000	+7.6%	8,850	-1.7%	3.26%	+0.4%
NSC	Sell	NORFOLK SOUTHERN CORP	$2,920,964,000	-12.4%	13,650	-28.2%	2.98%	-18.4%
CSX	Buy	CSX CORP(NSM)	$2,400,003,000	+116.4%	30,900	+94.3%	2.45%	+101.8%
GL	Buy	GLOBE LIFE INC	$2,333,080,000	+51.8%	29,200	+41.1%	2.38%	+41.7%
AXP	Sell	AMERICAN EXPRESS CO	$2,305,750,000	-11.3%	23,000	-15.8%	2.36%	-17.2%
URI	Buy	UNITED RENTALS INC	$2,111,450,000	+34.9%	12,100	+15.2%	2.16%	+25.8%
PRGO	Sell	PERRIGO CO PLC (NYS)	$2,006,267,000	-20.9%	43,700	-4.8%	2.05%	-26.2%
CMA	Buy	COMERICA INC(NYS)	$1,954,575,000	+17.1%	51,100	+16.7%	2.00%	+9.2%
DFS	Buy	DISCOVER FINANCIAL SERVICES	$1,947,186,000	+55.5%	33,700	+34.8%	1.99%	+45.0%
BMY	Buy	BRISTOL-MYERS SQUIBB CO(NYS)	$1,908,179,000	+3.4%	31,650	+0.8%	1.95%	-3.6%
K	Buy	KELLOGG CO	$1,718,094,000	+21.0%	26,600	+23.7%	1.76%	+12.8%
BGS	Sell	B&G FOODS INC	$1,471,810,000	+5.9%	53,000	-7.0%	1.50%	-1.2%
CFG	Sell	CITIZENS FINANCIAL GROUP	$1,397,984,000	-31.2%	55,300	-31.3%	1.43%	-35.8%
TEVA	Buy	TEVA PHARMACEUTICAL-SP ADR	$1,396,550,000	-26.0%	155,000	+1.3%	1.43%	-31.0%
POST	Buy	POST HOLDINGS INC (NYS)	$1,281,400,000	-0.5%	14,900	+1.4%	1.31%	-7.2%
DVA	New	DAVITA INC (NYS)	$1,241,925,000	–	14,500	–	1.27%	–
VVV	Sell	VALVOLINE INC	$1,190,000,000	-17.9%	62,500	-16.7%	1.22%	-23.4%
EAT	Sell	BRINKER INTERNATIONAL INC(NYS)	$1,140,624,000	+69.7%	26,700	-4.6%	1.16%	+58.3%
AER	Sell	AERCAP HOLDINGS NV	$1,045,385,000	-24.6%	41,500	-7.8%	1.07%	-29.6%
GILD	Sell	GILEAD SCIENCES INC	$1,036,316,000	-18.4%	16,400	-0.6%	1.06%	-23.9%
ZION	New	ZIONS BANCORP NA	$1,013,934,000	–	34,700	–	1.04%	–
GPI	Buy	GROUP 1 AUTOMOTIVE INC	$972,290,000	+40.4%	11,000	+4.8%	0.99%	+30.8%
BHC	Buy	BAUSCH HEALTH COS INC	$947,940,000	-10.6%	61,000	+5.2%	0.97%	-16.6%
CCS	Buy	CENTURY COMMUNITIES INC	$914,328,000	+61.2%	21,600	+16.8%	0.93%	+50.4%
LAD	Sell	LITHIA MOTORS INC-CL A	$900,363,000	+16.7%	3,950	-22.5%	0.92%	+8.7%
TPH	Sell	TRI POINTE GROUP INC	$894,302,000	+9.3%	49,300	-11.5%	0.91%	+2.0%
MHO	Buy	M/I HOMES INC	$874,950,000	+234.3%	19,000	+150.0%	0.89%	+211.5%
SPXC	Buy	SPX CORP(NYS)	$867,306,000	+50.5%	18,700	+33.6%	0.89%	+40.4%
PAHC	Buy	PHIBRO ANIMAL HEALTH CORP-A(NMS)	$835,200,000	-33.1%	48,000	+1.1%	0.85%	-37.6%
RSP	New	INVESCO S&P 500 EQUAL WEIGHT ETF	$821,636,000	–	7,600	–	0.84%	–
BLMN	Buy	BLOOMIN' BRANDS INC(NSM)	$798,621,000	+46.0%	52,300	+1.9%	0.82%	+36.2%
PGR	Buy	PROGRESSIVE CORP	$776,294,000	+34.6%	8,200	+13.9%	0.79%	+25.5%
BEN	Sell	FRANKLIN RESOURCES INC(NYS)	$775,335,000	-13.2%	38,100	-10.6%	0.79%	-19.1%
ALSN	Buy	ALLISON TRANSMISSION HOLDING(NYS)	$751,996,000	+18.2%	21,400	+23.7%	0.77%	+10.2%
WDR	Sell	WADDELL & REED FINANCIAL-A(NYS)	$749,925,000	-41.4%	50,500	-38.8%	0.77%	-45.4%
AMCX	Buy	AMC NETWORKS INC-A	$711,648,000	+238.1%	28,800	+220.0%	0.73%	+214.7%
VEC	Sell	VECTRUS INC(NYS)	$682,290,000	-35.3%	17,955	-16.3%	0.70%	-39.7%
TPRE	Sell	THIRD POINT REINSURANCE LTD	$667,200,000	-19.2%	96,000	-12.7%	0.68%	-24.6%
VREX	Buy	VAREX IMAGING CORP	$655,080,000	+9.2%	51,500	+30.1%	0.67%	+1.8%
INGN	New	INOGEN INC(NSM)	$649,600,000	–	22,400	–	0.66%	–
SGH	Buy	SMART GLOBAL HOLDINGS INC	$647,958,000	+26.1%	23,700	+25.4%	0.66%	+17.6%
PLAB	Buy	PHOTRONICS INC(NSM)	$644,412,000	+112.9%	64,700	+137.9%	0.66%	+98.2%
HDS	New	HD SUPPLY HOLDINGS INC(NSM)	$622,724,000	–	15,100	–	0.64%	–
LNC	Sell	LINCOLN NATIONAL CORP(NYS)	$557,674,000	-34.9%	17,800	-23.6%	0.57%	-39.3%
NTUS	Buy	NATUS MEDICAL INC(NSM)	$553,299,000	+188.2%	32,300	+267.0%	0.56%	+169.0%
OFIX	Buy	ORTHOFIX MEDICAL INC	$551,178,000	+1.3%	17,700	+4.1%	0.56%	-5.5%
RLGY	Buy	REALOGY HOLDINGS CORP	$533,360,000	+148.2%	56,500	+94.8%	0.54%	+131.9%
ANGO	Sell	ANGIODYNAMICS INC	$506,520,000	-15.6%	42,000	-28.8%	0.52%	-21.2%
SXI	Buy	STANDEX INTERNATIONAL CORP(NYS)	$503,200,000	+7.9%	8,500	+4.9%	0.51%	+0.6%
TOL	Sell	TOLL BROTHERS INC(NYS)	$462,270,000	-48.2%	9,500	-65.3%	0.47%	-51.7%
UCTT	Sell	ULTRA CLEAN HOLDINGS INC(NSM)	$452,806,000	-9.5%	21,100	-4.5%	0.46%	-15.5%
BJRI	Buy	BJ'S RESTAURANTS INC	$450,432,000	+57.0%	15,300	+11.7%	0.46%	+46.5%
CPB	New	CAMPBELL SOUP CO(NYS)	$440,167,000	–	9,100	–	0.45%	–
ICHR	Buy	ICHOR HOLDINGS LTD	$351,591,000	+32.3%	16,300	+63.0%	0.36%	+23.4%
M	Buy	MACY'S INC (NYS)	$336,870,000	-11.1%	59,100	+7.3%	0.34%	-17.1%
MSTR	Sell	MICROSTRATEGY INC-CL A	$334,244,000	-38.8%	2,220	-51.9%	0.34%	-43.1%
AYI	Buy	ACUITY BRANDS INC(NYS)	$245,640,000	+22.2%	2,400	+14.3%	0.25%	+14.1%
NOMD	New	NOMAD FOODS LTD(NYS)	$178,360,000	–	7,000	–	0.18%	–
SG	New	SIRIUS INTERNATIONAL INSURANCE GROUP LTD COMMON	$92,480,000	–	8,000	–	0.09%	–
IHRT	Sell	IHEARTMEDIA INC - CLASS A	$78,764,000	-87.5%	9,700	-87.2%	0.08%	-88.4%
CCL	Sell	CARNIVAL CORP	$75,900,000	-34.0%	5,000	-28.6%	0.08%	-38.1%
HTH	New	HILLTOP HOLDINGS INC	$61,740,000	–	3,000	–	0.06%	–
RVRA	Sell	RIVIERA RESOURCES INC	$29,425,000	-31.2%	16,814	-29.4%	0.03%	-36.2%
ASRT	Sell	ASSERTIO THERAPEUTICS INC(DEL)	$7,323,000	-73.3%	11,000	-65.6%	0.01%	-76.7%
THC	Exit	TENET HEALTHCARE CORP(NYS)	$0	–	-500	–	-0.01%	–
AKRXQ	Exit	AKORN INC	$0	–	-64,500	–	-0.02%	–
AMPY	Exit	AMPLIFY ENERGY CORP	$0	–	-54,848	–	-0.07%	–
GME	Exit	GAMESTOP CORP-CLASS A	$0	–	-69,138	–	-0.33%	–
CUTR	Exit	CUTERA INC(NSM)	$0	–	-48,000	–	-0.64%	–
TXT	Exit	TEXTRON INC	$0	–	-18,000	–	-0.65%	–
SJM	Exit	JM SMUCKER CO/THE	$0	–	-7,900	–	-0.92%	–
GS	Exit	GOLDMAN SACHS GROUP INC(NYS)	$0	–	-6,550	–	-1.42%	–

Q2 2020

			Value		Shares		↓ Weighting
C	New	CITIGROUP INC(ADF)	$3,934,700,000	–	77,000	–	4.31%	–
BRKB	New	BERKSHIRE HATHAWAY INC-CL B	$3,855,816,000	–	21,600	–	4.22%	–
AAPL	New	APPLE INC(NYS)	$3,337,920,000	–	9,150	–	3.66%	–
NSC	New	NORFOLK SOUTHERN CORP	$3,335,830,000	–	19,000	–	3.66%	–
BIIB	New	BIOGEN INC(NYS)	$3,090,203,000	–	11,550	–	3.38%	–
SPGI	New	S&P GLOBAL INC	$2,965,320,000	–	9,000	–	3.25%	–
COF	New	CAPITAL ONE FINANCIAL CORP	$2,829,068,000	–	45,200	–	3.10%	–
AXP	New	AMERICAN EXPRESS CO	$2,598,960,000	–	27,300	–	2.85%	–
PRGO	New	PERRIGO CO PLC (NYS)	$2,536,893,000	–	45,900	–	2.78%	–
CFG	New	CITIZENS FINANCIAL GROUP	$2,031,820,000	–	80,500	–	2.23%	–
IWN	New	ISHARES RUSSELL 2000 VALUE	$1,929,708,000	–	19,800	–	2.11%	–
TEVA	New	TEVA PHARMACEUTICAL-SP ADR	$1,886,490,000	–	153,000	–	2.07%	–
BMY	New	BRISTOL-MYERS SQUIBB CO(NYS)	$1,846,320,000	–	31,400	–	2.02%	–
WYND	New	WYNDHAM DESTINATIONS INC	$1,803,520,000	–	64,000	–	1.98%	–
CMA	New	COMERICA INC(NYS)	$1,668,780,000	–	43,800	–	1.83%	–
URI	New	UNITED RENTALS INC	$1,564,920,000	–	10,500	–	1.71%	–
GL	New	GLOBE LIFE INC	$1,536,561,000	–	20,700	–	1.68%	–
VVV	New	VALVOLINE INC	$1,449,750,000	–	75,000	–	1.59%	–
K	New	KELLOGG CO	$1,420,290,000	–	21,500	–	1.56%	–
BGS	New	B&G FOODS INC	$1,389,660,000	–	57,000	–	1.52%	–
AER	New	AERCAP HOLDINGS NV	$1,386,000,000	–	45,000	–	1.52%	–
IJJ	New	S&P MIDCAP 400 Value	$1,342,694,000	–	10,100	–	1.47%	–
GS	New	GOLDMAN SACHS GROUP INC(NYS)	$1,294,411,000	–	6,550	–	1.42%	–
POST	New	POST HOLDINGS INC (NYS)	$1,288,014,000	–	14,700	–	1.41%	–
WDR	New	WADDELL & REED FINANCIAL-A(NYS)	$1,279,575,000	–	82,500	–	1.40%	–
GILD	New	GILEAD SCIENCES INC	$1,269,510,000	–	16,500	–	1.39%	–
DFS	New	DISCOVER FINANCIAL SERVICES	$1,252,250,000	–	25,000	–	1.37%	–
PAHC	New	PHIBRO ANIMAL HEALTH CORP-A(NMS)	$1,247,825,000	–	47,500	–	1.37%	–
VZ	New	VERIZON COMMUNICATIONS INC	$1,223,886,000	–	22,200	–	1.34%	–
CSX	New	CSX CORP(NSM)	$1,108,866,000	–	15,900	–	1.22%	–
BHC	New	BAUSCH HEALTH COS INC	$1,060,820,000	–	58,000	–	1.16%	–
VEC	New	VECTRUS INC(NYS)	$1,054,085,000	–	21,455	–	1.16%	–
NVT	New	NVENT ELECTRIC PLC	$917,770,000	–	49,000	–	1.00%	–
BEN	New	FRANKLIN RESOURCES INC(NYS)	$893,322,000	–	42,600	–	0.98%	–
TOL	New	TOLL BROTHERS INC(NYS)	$892,966,000	–	27,400	–	0.98%	–
MYL	New	MYLAN NV	$884,400,000	–	55,000	–	0.97%	–
LNC	New	LINCOLN NATIONAL CORP(NYS)	$857,207,000	–	23,300	–	0.94%	–
SJM	New	JM SMUCKER CO/THE	$835,899,000	–	7,900	–	0.92%	–
TPRE	New	THIRD POINT REINSURANCE LTD	$826,100,000	–	110,000	–	0.90%	–
TPH	New	TRI POINTE GROUP INC	$818,233,000	–	55,700	–	0.90%	–
VIAC	New	VIACOMCBS INC - CLASS B	$797,731,000	–	34,208	–	0.87%	–
GNTX	New	GENTEX CORP(NSM)	$773,100,000	–	30,000	–	0.85%	–
LAD	New	LITHIA MOTORS INC-CL A	$771,783,000	–	5,100	–	0.85%	–
TMHC	New	TAYLOR MORRISON HOME CORP	$737,650,000	–	38,240	–	0.81%	–
GPI	New	GROUP 1 AUTOMOTIVE INC	$692,685,000	–	10,500	–	0.76%	–
EAT	New	BRINKER INTERNATIONAL INC(NYS)	$672,000,000	–	28,000	–	0.74%	–
TDC	New	TERADATA CORP (NYS)	$646,880,000	–	31,100	–	0.71%	–
ALSN	New	ALLISON TRANSMISSION HOLDING(NYS)	$636,294,000	–	17,300	–	0.70%	–
IHRT	New	IHEARTMEDIA INC - CLASS A	$632,095,000	–	75,700	–	0.69%	–
CAKE	New	CHEESECAKE FACTORY INC/THE(NSM)	$618,840,000	–	27,000	–	0.68%	–
VREX	New	VAREX IMAGING CORP	$599,940,000	–	39,600	–	0.66%	–
ANGO	New	ANGIODYNAMICS INC	$600,030,000	–	59,000	–	0.66%	–
DIN	New	DINE BRANDS GLOBAL INC	$593,610,000	–	14,100	–	0.65%	–
TXT	New	TEXTRON INC	$592,380,000	–	18,000	–	0.65%	–
CUTR	New	CUTERA INC(NSM)	$584,160,000	–	48,000	–	0.64%	–
PGR	New	PROGRESSIVE CORP	$576,792,000	–	7,200	–	0.63%	–
SPXC	New	SPX CORP(NYS)	$576,100,000	–	14,000	–	0.63%	–
CVLT	New	COMMVAULT SYSTEMS INC(NSM)	$568,890,000	–	14,700	–	0.62%	–
CCS	New	CENTURY COMMUNITIES INC	$567,210,000	–	18,500	–	0.62%	–
MSTR	New	MICROSTRATEGY INC-CL A	$546,500,000	–	4,620	–	0.60%	–
BLMN	New	BLOOMIN' BRANDS INC(NSM)	$546,858,000	–	51,300	–	0.60%	–
OFIX	New	ORTHOFIX MEDICAL INC	$544,000,000	–	17,000	–	0.60%	–
AIR	New	AAR CORP(NYS)	$515,572,000	–	24,943	–	0.56%	–
SGH	New	SMART GLOBAL HOLDINGS INC	$513,702,000	–	18,900	–	0.56%	–
FRGI	New	FIESTA RESTAURANT GROUP	$500,830,000	–	78,500	–	0.55%	–
EQH	New	EQUITABLE HOLDINGS INC	$501,540,000	–	26,000	–	0.55%	–
UCTT	New	ULTRA CLEAN HOLDINGS INC(NSM)	$500,123,000	–	22,100	–	0.55%	–
LCI	New	LANNETT CO INC	$493,680,000	–	68,000	–	0.54%	–
SXI	New	STANDEX INTERNATL CORP	$466,155,000	–	8,100	–	0.51%	–
IVOV	New	VANGUARD S&P MID-CAP 400 VAL	$390,754,000	–	3,800	–	0.43%	–
M	New	MACY'S INC (NYS)	$379,088,000	–	55,100	–	0.42%	–
MTRX	New	MATRIX SERVICE CO	$350,892,000	–	36,100	–	0.38%	–
NEX	New	NEXTIER OILFIELD SOLUTIONS I	$330,398,000	–	134,856	–	0.36%	–
GLRE	New	GREENLIGHT CAPITAL RE LTD-A(NSM)	$318,828,000	–	48,900	–	0.35%	–
MTG	New	MGIC INVESTMENT CORP	$303,030,000	–	37,000	–	0.33%	–
PLAB	New	PHOTRONICS INC(NSM)	$302,736,000	–	27,200	–	0.33%	–
GME	New	GAMESTOP CORP-CLASS A	$300,059,000	–	69,138	–	0.33%	–
BJRI	New	BJ'S RESTAURANTS INC	$286,878,000	–	13,700	–	0.31%	–
ICHR	New	ICHOR HOLDINGS LTD	$265,800,000	–	10,000	–	0.29%	–
MHO	New	M/I HOMES INC	$261,744,000	–	7,600	–	0.29%	–
RLGY	New	REALOGY HOLDINGS CORP	$214,890,000	–	29,000	–	0.24%	–
AMCX	New	AMC NETWORKS INC-A	$210,510,000	–	9,000	–	0.23%	–
AYI	New	ACUITY BRANDS INC(NYS)	$201,054,000	–	2,100	–	0.22%	–
NTUS	New	NATUS MEDICAL INC(NSM)	$192,016,000	–	8,800	–	0.21%	–
GIFI	New	GULF ISLAND FABRICATION INC	$161,789,000	–	52,700	–	0.18%	–
AHC	New	A H BELO CORPORTAION SERIES A	$142,033,000	–	82,100	–	0.16%	–
SPR	New	SPIRIT AERO HLDG-A	$134,064,000	–	5,600	–	0.15%	–
CCL	New	CARNIVAL CORP	$114,940,000	–	7,000	–	0.13%	–
AZO	New	AUTOZONE INC	$78,969,000	–	70	–	0.09%	–
AMPY	New	AMPLIFY ENERGY CORP	$67,464,000	–	54,848	–	0.07%	–
RRGB	New	RED ROBIN GOURMET BURGERS	$61,200,000	–	6,000	–	0.07%	–
RVRA	New	RIVIERA RESOURCES INC	$42,747,000	–	23,814	–	0.05%	–
ASRT	New	ASSERTIO THERAPEUTICS INC(DEL)	$27,424,000	–	32,000	–	0.03%	–
AKRXQ	New	AKORN INC	$18,060,000	–	64,500	–	0.02%	–
THC	New	TENET HEALTHCARE CORP(NYS)	$9,055,000	–	500	–	0.01%	–

Q4 2019

			Value		Shares		↓ Weighting
ASRT	Exit	ASSERTIO THERAPEUTICS INC	$0	–	-37,000	–	-0.04%	–
AZO	Exit	AUTOZONE INC	$0	–	-70	–	-0.07%	–
THC	Exit	TENET HEALTHCARE CORP	$0	–	-3,500	–	-0.07%	–
MNKKQ	Exit	MALLINCKRODT PLC	$0	–	-34,600	–	-0.08%	–
MMSI	Exit	MERIT MEDICAL SYSTEMS INC	$0	–	-4,500	–	-0.13%	–
ETM	Exit	ENTERCOM COMMUNICATIONS CORP	$0	–	-50,000	–	-0.16%	–
GIFI	Exit	GULF ISLAND FABRICATION INC	$0	–	-31,700	–	-0.16%	–
MS	Exit	MORGAN STANLEY	$0	–	-5,000	–	-0.20%	–
INGN	Exit	INOGEN INC	$0	–	-4,500	–	-0.21%	–
UNM	Exit	UNUM GROUP	$0	–	-8,000	–	-0.23%	–
AKRXQ	Exit	AKORN INC	$0	–	-64,500	–	-0.24%	–
CZZ	Exit	COSAN LTD	$0	–	-19,000	–	-0.27%	–
AOSL	Exit	ALPHA AND OMEGA SEMICONDUCTR	$0	–	-23,933	–	-0.28%	–
AHC	Exit	A. H. BELO CORP	$0	–	-82,100	–	-0.30%	–
GME	Exit	GAMESTOP CORP	$0	–	-57,138	–	-0.30%	–
PKX	Exit	POSCO	$0	–	-6,700	–	-0.30%	–
RVRA	Exit	RIVIERA RESOURCES INC	$0	–	-23,814	–	-0.31%	–
GNRC	Exit	GENERAC HOLDINGS INC	$0	–	-4,100	–	-0.31%	–
AMPY	Exit	AMPLIFY ENERGY CORP	$0	–	-54,848	–	-0.32%	–
FRGI	Exit	FIESTA RESTAURANT GROUP INC	$0	–	-34,500	–	-0.34%	–
CVLT	Exit	COMMVAULT SYSTEMS INC	$0	–	-8,200	–	-0.35%	–
NTUS	Exit	NATUS MEDICAL INC	$0	–	-11,600	–	-0.36%	–
MTOR	Exit	MERITOR INC	$0	–	-20,500	–	-0.36%	–
PBI	Exit	PITNEY BOWES INC	$0	–	-84,000	–	-0.37%	–
OMI	Exit	OWENS & MINOR INC	$0	–	-68,000	–	-0.38%	–
MSGN	Exit	MSG NETWORKS INC	$0	–	-25,000	–	-0.39%	–
SNCR	Exit	SYNCHRONOSS TECHNOLOGIES	$0	–	-75,000	–	-0.39%	–
RLGY	Exit	REALOGY HOLDINGS CORP	$0	–	-62,000	–	-0.40%	–
UNFI	Exit	UNITED NATURAL FOODS INC	$0	–	-36,000	–	-0.40%	–
TPCO	Exit	TRIBUNE PUBLISHING CO	$0	–	-50,000	–	-0.41%	–
MYL	Exit	MYLAN NV	$0	–	-22,000	–	-0.42%	–
IHRT	Exit	IHEARTMEDIA INC	$0	–	-30,500	–	-0.44%	–
TMHC	Exit	TAYLOR MORRISON HOME CORP	$0	–	-18,000	–	-0.45%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-4,000	–	-0.45%	–
MTRX	Exit	MATRIX SERVICE CO	$0	–	-28,100	–	-0.46%	–
EAT	Exit	BRINKER INTL INC	$0	–	-11,600	–	-0.48%	–
AAL	Exit	AMERICAN AIRLINES GROUP INC	$0	–	-18,400	–	-0.48%	–
BJRI	Exit	BJ'S RESTAURANTS INC	$0	–	-12,900	–	-0.48%	–
GLRE	Exit	GREENLIGHT CAPITAL RE LTD	$0	–	-48,900	–	-0.49%	–
TDC	Exit	TERADATA CORP	$0	–	-17,100	–	-0.51%	–
OFIX	Exit	ORTHOFIX MEDICAL INC	$0	–	-10,700	–	-0.54%	–
AMCX	Exit	AMC NETWORKS INC	$0	–	-12,000	–	-0.57%	–
CJ	Exit	C&J ENERGY SERVICES INC	$0	–	-56,500	–	-0.58%	–
GPI	Exit	GROUP 1 AUTOMOTIVE INC	$0	–	-6,600	–	-0.58%	–
TGI	Exit	TRIUMPH GROUP INC	$0	–	-28,000	–	-0.62%	–
IWN	Exit	ISHARES RUSSELL 2000 VALUE	$0	–	-5,500	–	-0.63%	–
GNTX	Exit	GENTEX CORP	$0	–	-24,000	–	-0.64%	–
LNC	Exit	LINCOLN NATIONAL CORP	$0	–	-11,100	–	-0.64%	–
OSUR	Exit	ORASURE TECHNOLOGIES INC	$0	–	-91,000	–	-0.65%	–
CLF	Exit	CLEVELAND-CLIFFS INC	$0	–	-95,000	–	-0.66%	–
BSIG	Exit	BRIGHTSPHERE INVEST GRP INC	$0	–	-70,000	–	-0.67%	–
ALSN	Exit	ALLISON TRANSMISSION HLDGS	$0	–	-14,800	–	-0.67%	–
LCI	Exit	LANNETT CO INC	$0	–	-63,000	–	-0.68%	–
EQH	Exit	AXA EQUITABLE HOLDINGS	$0	–	-32,000	–	-0.68%	–
SGH	Exit	SMART GLOBAL HOLDINGS INC	$0	–	-28,200	–	-0.69%	–
PLAB	Exit	PHOTRONICS INC	$0	–	-66,000	–	-0.69%	–
CCS	Exit	CENTURY COMMUNITIES INC	$0	–	-24,000	–	-0.71%	–
TPH	Exit	TRI POINTE GROUP INC	$0	–	-49,000	–	-0.71%	–
WLH	Exit	WILLIAM LYON HOMES	$0	–	-37,800	–	-0.74%	–
RRGB	Exit	RED ROBIN GOURMET BURGERS	$0	–	-24,200	–	-0.77%	–
MSTR	Exit	MICROSTRATEGY INC	$0	–	-5,520	–	-0.79%	–
CSX	Exit	CSX CORP	$0	–	-11,900	–	-0.79%	–
AYR	Exit	AIRCASTLE LTD	$0	–	-37,000	–	-0.80%	–
BGS	Exit	B&G FOODS INC	$0	–	-44,000	–	-0.80%	–
VREX	Exit	VAREX IMAGING CORP	$0	–	-29,200	–	-0.80%	–
UCTT	Exit	ULTRA CLEAN HOLDINGS INC	$0	–	-57,100	–	-0.80%	–
KSU	Exit	KANSAS CITY SOUTHERN	$0	–	-6,300	–	-0.80%	–
URI	Exit	UNITED RENTALS INC	$0	–	-6,800	–	-0.81%	–
WDR	Exit	WADDELL&REED FINL INC -CL A	$0	–	-51,000	–	-0.84%	–
SYNA	Exit	SYNAPTICS INC	$0	–	-22,000	–	-0.84%	–
AIR	Exit	AAR CORP	$0	–	-22,343	–	-0.88%	–
PAHC	Exit	PHIBRO ANIMAL HEALTH CORP	$0	–	-43,500	–	-0.89%	–
BLMN	Exit	BLOOMIN' BRANDS INC	$0	–	-49,300	–	-0.90%	–
GM	Exit	GENERAL MOTORS CO	$0	–	-25,800	–	-0.93%	–
NVT	Exit	NVENT ELECTRIC PLC	$0	–	-44,000	–	-0.93%	–
DIN	Exit	DINE BRANDS GLOBAL INC	$0	–	-13,000	–	-0.95%	–
M	Exit	MACY'S INC	$0	–	-66,100	–	-0.99%	–
BHC	Exit	BAUSCH HEALTH COMPANIES INC	$0	–	-47,700	–	-1.00%	–
TEVA	Exit	TEVA PHARMACEUTICALS	$0	–	-156,000	–	-1.03%	–
TPRE	Exit	THIRD POINT REINSURANCE LTD	$0	–	-119,000	–	-1.14%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-20,000	–	-1.16%	–
VIAB	Exit	VIACOM INC	$0	–	-50,400	–	-1.16%	–
VEC	Exit	VECTRUS INC	$0	–	-29,855	–	-1.17%	–
CELG	Exit	CELGENE CORP	$0	–	-12,900	–	-1.23%	–
ZION	Exit	ZIONS BANCORPORATION NA	$0	–	-30,900	–	-1.32%	–
SJM	Exit	SMUCKER (JM) CO	$0	–	-12,700	–	-1.34%	–
VVV	Exit	VALVOLINE INC	$0	–	-64,000	–	-1.35%	–
GWR	Exit	GENESEE & WYOMING INC -CL A	$0	–	-15,000	–	-1.59%	–
LM	Exit	LEGG MASON INC	$0	–	-44,800	–	-1.64%	–
PRGO	Exit	PERRIGO CO PLC	$0	–	-32,200	–	-1.73%	–
MTG	Exit	MGIC INVESTMENT CORP/WI	$0	–	-145,000	–	-1.75%	–
K	Exit	KELLOGG CO	$0	–	-33,100	–	-2.05%	–
AER	Exit	AERCAP HOLDINGS NV	$0	–	-40,400	–	-2.12%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-10,600	–	-2.49%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-41,600	–	-2.53%	–
DFS	Exit	DISCOVER FINANCIAL SVCS	$0	–	-32,800	–	-2.56%	–
AAPL	Exit	APPLE INC	$0	–	-11,950	–	-2.57%	–
BEN	Exit	FRANKLIN RESOURCES INC	$0	–	-95,600	–	-2.65%	–
CFG	Exit	CITIZENS FINANCIAL GROUP INC	$0	–	-80,500	–	-2.74%	–
WYND	Exit	WYNDHAM DESTINATIONS INC	$0	–	-62,000	–	-2.74%	–
BIIB	Exit	BIOGEN INC	$0	–	-14,650	–	-3.28%	–
COF	Exit	CAPITAL ONE FINANCIAL CORP	$0	–	-41,000	–	-3.58%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-18,400	–	-3.66%	–
NSC	Exit	NORFOLK SOUTHERN CORP	$0	–	-21,800	–	-3.76%	–
C	Exit	CITIGROUP INC	$0	–	-62,800	–	-4.17%	–

Q3 2019

			Value		Shares		↓ Weighting
C	Buy	CITIGROUP INC	$4,338,224,000	+7.4%	62,800	+8.8%	4.17%	+7.5%
NSC	Buy	NORFOLK SOUTHERN CORP	$3,916,588,000	+8.0%	21,800	+19.8%	3.76%	+8.1%
GS	Buy	GOLDMAN SACHS GROUP INC	$3,813,032,000	+2.4%	18,400	+1.1%	3.66%	+2.6%
COF	Buy	CAPITAL ONE FINANCIAL CORP	$3,730,180,000	+3.5%	41,000	+3.3%	3.58%	+3.7%
BIIB	Buy	BIOGEN INC	$3,410,813,000	+10.1%	14,650	+10.6%	3.28%	+10.2%
CFG	Buy	CITIZENS FINANCIAL GROUP INC	$2,847,285,000	+11.1%	80,500	+11.0%	2.74%	+11.2%
BEN	Buy	FRANKLIN RESOURCES INC	$2,759,016,000	+55.5%	95,600	+87.5%	2.65%	+55.7%
DFS	Buy	DISCOVER FINANCIAL SVCS	$2,659,752,000	+27.9%	32,800	+22.4%	2.56%	+28.1%
GILD	Buy	GILEAD SCIENCES INC	$2,636,608,000	-5.0%	41,600	+1.2%	2.53%	-4.9%
AER	Buy	AERCAP HOLDINGS NV	$2,211,900,000	+18.1%	40,400	+12.2%	2.12%	+18.3%
K	Sell	KELLOGG CO	$2,129,985,000	+14.9%	33,100	-4.3%	2.05%	+15.1%
MTG	Buy	MGIC INVESTMENT CORP/WI	$1,824,100,000	-2.9%	145,000	+1.4%	1.75%	-2.8%
LM	Sell	LEGG MASON INC	$1,710,912,000	-43.3%	44,800	-43.1%	1.64%	-43.2%
GWR	Sell	GENESEE & WYOMING INC -CL A	$1,657,650,000	-35.5%	15,000	-41.6%	1.59%	-35.4%
SJM	New	SMUCKER (JM) CO	$1,397,254,000	–	12,700	–	1.34%	–
ZION	New	ZIONS BANCORPORATION NA	$1,375,668,000	–	30,900	–	1.32%	–
CELG	New	CELGENE CORP	$1,280,970,000	–	12,900	–	1.23%	–
VIAB	Buy	VIACOM INC	$1,211,112,000	-18.9%	50,400	+0.8%	1.16%	-18.8%
BHC	Buy	BAUSCH HEALTH COMPANIES INC	$1,042,245,000	-11.5%	47,700	+2.1%	1.00%	-11.4%
M	Buy	MACY'S INC	$1,027,194,000	-24.1%	66,100	+4.8%	0.99%	-24.0%
DIN	Buy	DINE BRANDS GLOBAL INC	$986,180,000	-12.5%	13,000	+10.2%	0.95%	-12.3%
NVT	Buy	NVENT ELECTRIC PLC	$969,760,000	+8.7%	44,000	+22.2%	0.93%	+8.8%
BLMN	Buy	BLOOMIN' BRANDS INC	$933,249,000	+16.7%	49,300	+16.5%	0.90%	+16.8%
PAHC	Buy	PHIBRO ANIMAL HEALTH CORP	$927,855,000	-11.5%	43,500	+31.8%	0.89%	-11.4%
AIR	Buy	AAR CORP	$920,755,000	+13.0%	22,343	+0.9%	0.88%	+13.2%
SYNA	Sell	SYNAPTICS INC	$878,900,000	+13.8%	22,000	-17.0%	0.84%	+13.9%
URI	Buy	UNITED RENTALS INC	$847,552,000	+36.0%	6,800	+44.7%	0.81%	+36.1%
KSU	Sell	KANSAS CITY SOUTHERN	$837,963,000	-55.6%	6,300	-59.4%	0.80%	-55.5%
UCTT	Buy	ULTRA CLEAN HOLDINGS INC	$835,659,000	+13.1%	57,100	+7.5%	0.80%	+13.3%
VREX	Buy	VAREX IMAGING CORP	$833,368,000	+16.2%	29,200	+24.8%	0.80%	+16.3%
BGS	Buy	B&G FOODS INC	$832,040,000	-2.4%	44,000	+7.3%	0.80%	-2.3%
AYR	Buy	AIRCASTLE LTD	$829,910,000	+11.5%	37,000	+5.7%	0.80%	+11.6%
CSX	New	CSX CORP	$824,313,000	–	11,900	–	0.79%	–
MSTR	Buy	MICROSTRATEGY INC	$819,002,000	+13.8%	5,520	+10.0%	0.79%	+14.1%
RRGB	Buy	RED ROBIN GOURMET BURGERS	$804,892,000	+25.4%	24,200	+15.2%	0.77%	+25.5%
WLH	Buy	WILLIAM LYON HOMES	$769,608,000	+33.6%	37,800	+19.6%	0.74%	+33.6%
TPH	Buy	TRI POINTE GROUP INC	$736,960,000	+39.9%	49,000	+11.4%	0.71%	+40.2%
CCS	Buy	CENTURY COMMUNITIES INC	$735,120,000	+41.8%	24,000	+23.1%	0.71%	+42.1%
SGH	Sell	SMART GLOBAL HOLDINGS INC	$718,536,000	-7.3%	28,200	-16.3%	0.69%	-7.1%
PLAB	Sell	PHOTRONICS INC	$718,080,000	+13.7%	66,000	-14.3%	0.69%	+13.9%
EQH	Sell	AXA EQUITABLE HOLDINGS	$709,120,000	-27.8%	32,000	-31.9%	0.68%	-27.7%
LCI	Sell	LANNETT CO INC	$705,600,000	+3.5%	63,000	-44.0%	0.68%	+3.7%
ALSN	Buy	ALLISON TRANSMISSION HLDGS	$696,340,000	+20.2%	14,800	+18.4%	0.67%	+20.3%
CLF	Sell	CLEVELAND-CLIFFS INC	$685,900,000	-61.7%	95,000	-43.5%	0.66%	-61.7%
OSUR	New	ORASURE TECHNOLOGIES INC	$679,770,000	–	91,000	–	0.65%	–
LNC	Buy	LINCOLN NATIONAL CORP	$669,552,000	-1.1%	11,100	+5.7%	0.64%	-0.9%
GNTX	Buy	GENTEX CORP	$660,840,000	+155.7%	24,000	+128.6%	0.64%	+156.0%
IWN	New	ISHARES RUSSELL 2000 VALUE	$656,755,000	–	5,500	–	0.63%	–
TGI	Sell	TRIUMPH GROUP INC	$640,640,000	-3.5%	28,000	-3.4%	0.62%	-3.5%
CJ	Buy	C&J ENERGY SERVICES INC	$606,245,000	-5.6%	56,500	+3.7%	0.58%	-5.5%
OFIX	Sell	ORTHOFIX MEDICAL INC	$567,314,000	-10.6%	10,700	-10.8%	0.54%	-10.5%
BJRI	New	BJ'S RESTAURANTS INC	$501,036,000	–	12,900	–	0.48%	–
EAT	Sell	BRINKER INTL INC	$494,972,000	-27.7%	11,600	-33.3%	0.48%	-27.7%
MTRX	Sell	MATRIX SERVICE CO	$481,634,000	-28.2%	28,100	-15.1%	0.46%	-28.0%
TMHC	Sell	TAYLOR MORRISON HOME CORP	$466,920,000	-14.3%	18,000	-30.8%	0.45%	-14.3%
IHRT	New	IHEARTMEDIA INC	$457,500,000	–	30,500	–	0.44%	–
MYL	Buy	MYLAN NV	$435,160,000	+78.6%	22,000	+71.9%	0.42%	+78.6%
SNCR	Sell	SYNCHRONOSS TECHNOLOGIES	$405,000,000	-33.5%	75,000	-2.6%	0.39%	-33.4%
MSGN	New	MSG NETWORKS INC	$405,500,000	–	25,000	–	0.39%	–
OMI	Buy	OWENS & MINOR INC	$395,080,000	+89.9%	68,000	+4.6%	0.38%	+90.5%
NTUS	Sell	NATUS MEDICAL INC	$369,344,000	-47.9%	11,600	-58.0%	0.36%	-47.8%
CVLT	New	COMMVAULT SYSTEMS INC	$366,622,000	–	8,200	–	0.35%	–
FRGI	Buy	FIESTA RESTAURANT GROUP INC	$359,490,000	-10.3%	34,500	+13.1%	0.34%	-10.2%
AMPY	Sell	AMPLIFY ENERGY CORP	$338,412,000	+3.2%	54,848	-6.7%	0.32%	+3.2%
GNRC	Buy	GENERAC HOLDINGS INC	$321,194,000	+92.8%	4,100	+70.8%	0.31%	+93.1%
RVRA	Sell	RIVIERA RESOURCES INC	$318,155,000	-37.3%	23,814	-40.4%	0.31%	-37.2%
PKX	Sell	POSCO	$315,972,000	-14.9%	6,700	-4.3%	0.30%	-14.6%
GME	Buy	GAMESTOP CORP	$315,402,000	+8.8%	57,138	+7.8%	0.30%	+9.0%
AOSL	Sell	ALPHA AND OMEGA SEMICONDUCTR	$293,897,000	+12.6%	23,933	-14.3%	0.28%	+12.8%
CZZ	New	COSAN LTD	$283,100,000	–	19,000	–	0.27%	–
AKRXQ	Sell	AKORN INC	$245,100,000	-32.5%	64,500	-8.5%	0.24%	-32.5%
UNM	Sell	UNUM GROUP	$237,760,000	-66.3%	8,000	-61.9%	0.23%	-66.3%
INGN	New	INOGEN INC	$215,595,000	–	4,500	–	0.21%	–
MS	New	MORGAN STANLEY	$213,350,000	–	5,000	–	0.20%	–
GIFI	Buy	GULF ISLAND FABRICATION INC	$169,595,000	-19.6%	31,700	+6.7%	0.16%	-19.3%
ETM	Buy	ENTERCOM COMMUNICATIONS CORP	$167,000,000	-15.3%	50,000	+47.1%	0.16%	-15.3%
MMSI	New	MERIT MEDICAL SYSTEMS INC	$137,070,000	–	4,500	–	0.13%	–
MNKKQ	Sell	MALLINCKRODT PLC	$83,386,000	-80.9%	34,600	-27.3%	0.08%	-80.9%
THC	Sell	TENET HEALTHCARE CORP	$77,420,000	-78.0%	3,500	-79.4%	0.07%	-78.0%
ASRT	New	ASSERTIO THERAPEUTICS INC	$47,360,000	–	37,000	–	0.04%	–
MPO	Exit	MIDSTATES PETROLEUM CO INC	$0	–	-8,801	–	-0.05%	–
KEM	Exit	KEMET CORPORATION CMN	$0	–	-5,000	–	-0.09%	–
IVC	Exit	INVACARE CORP	$0	–	-20,029	–	-0.10%	–
TRWH	Exit	TWIN RIVER WORLDWIDE HOLDING	$0	–	-4,000	–	-0.11%	–
LKSDQ	Exit	LSC COMMUNICATIONS INC	$0	–	-35,000	–	-0.12%	–
CHUY	Exit	CHUY'S HOLDINGS INC	$0	–	-6,000	–	-0.13%	–
CC	Exit	CHEMOURS CO/THE	$0	–	-8,000	–	-0.18%	–
WGO	Exit	WINNEBAGO INDUSTRIES	$0	–	-8,500	–	-0.32%	–
OSPN	Exit	ONESPAN INC	$0	–	-23,600	–	-0.32%	–
AAWW	Exit	ATLAS AIR WORLDWIDE	$0	–	-9,700	–	-0.42%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-12,900	–	-0.48%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-13,200	–	-0.57%	–
MHO	Exit	M/I HOMES INC	$0	–	-21,500	–	-0.59%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N.V	$0	–	-8,400	–	-0.69%	–
CUTR	Exit	CUTERA INC	$0	–	-38,500	–	-0.77%	–
CPB	Exit	CAMPBELL SOUP CO	$0	–	-28,600	–	-1.10%	–
WFC	Exit	WELLS FARGO	$0	–	-25,500	–	-1.16%	–

Q2 2019

			Value		Shares		↓ Weighting
C	New	CITIGROUP INC	$4,040,731,000	–	57,700	–	3.88%	–
GS	New	GOLDMAN SACHS GROUP	$3,723,720,000	–	18,200	–	3.57%	–
NSC	New	NORFOLK SOUTHERN CORP	$3,627,806,000	–	18,200	–	3.48%	–
COF	New	CAPITAL ONE FINANCIAL CORP	$3,602,378,000	–	39,700	–	3.46%	–
BIIB	New	BIOGEN INC	$3,098,778,000	–	13,250	–	2.97%	–
LM	New	LEGG MASON INC	$3,016,464,000	–	78,800	–	2.89%	–
GILD	New	GILEAD SCIENCES INC	$2,776,716,000	–	41,100	–	2.66%	–
WYND	New	WYNDHAM DESTINATIONS INC	$2,721,800,000	–	62,000	–	2.61%	–
GWR	New	GENESEE & WYOMING INC-CL A	$2,570,000,000	–	25,700	–	2.46%	–
CFG	New	CITIZENS FINANCIAL GROUP	$2,563,600,000	–	72,500	–	2.46%	–
SPGI	New	S&P GLOBAL INC	$2,414,574,000	–	10,600	–	2.32%	–
AAPL	New	APPLE INC	$2,365,144,000	–	11,950	–	2.27%	–
DFS	New	DISCOVER FINANCIAL SERVICES	$2,079,412,000	–	26,800	–	1.99%	–
KSU	New	KANSAS CITY SOUTHERN	$1,888,210,000	–	15,500	–	1.81%	–
MTG	New	MGIC INVESTMENT CORP	$1,879,020,000	–	143,000	–	1.80%	–
AER	New	AERCAP HOLDINGS NV	$1,872,360,000	–	36,000	–	1.80%	–
K	New	KELLOGG CO	$1,853,522,000	–	34,600	–	1.78%	–
CLF	New	CLEVELAND-CLIFFS INC	$1,792,560,000	–	168,000	–	1.72%	–
BEN	New	FRANKLIN RESOURCES INC	$1,774,800,000	–	51,000	–	1.70%	–
PRGO	New	PERRIGO CO PLC	$1,533,364,000	–	32,200	–	1.47%	–
VIAB	New	VIACOM INC-CLASS B	$1,493,500,000	–	50,000	–	1.43%	–
TEVA	New	TEVA PHARMACEUTICAL-SP ADR	$1,439,880,000	–	156,000	–	1.38%	–
M	New	MACY'S INC	$1,354,126,000	–	63,100	–	1.30%	–
VVV	New	VALVOLINE INC	$1,249,920,000	–	64,000	–	1.20%	–
TPRE	New	THIRD POINT REINSURANCE LTD	$1,228,080,000	–	119,000	–	1.18%	–
VEC	New	VECTRUS INC	$1,210,919,000	–	29,855	–	1.16%	–
WFC	New	WELLS FARGO	$1,206,660,000	–	25,500	–	1.16%	–
BHC	New	BAUSCH HEALTH COS INC	$1,177,774,000	–	46,700	–	1.13%	–
CPB	New	CAMPBELL SOUP CO	$1,146,002,000	–	28,600	–	1.10%	–
VZ	New	VERIZON COMMUNICATIONS INC	$1,142,600,000	–	20,000	–	1.10%	–
DIN	New	DINE BRANDS GLOBAL INC	$1,126,546,000	–	11,800	–	1.08%	–
PAHC	New	PHIBRO ANIMAL HEALTH CORP-A	$1,048,410,000	–	33,000	–	1.01%	–
GM	New	GENERAL MOTORS CO	$994,074,000	–	25,800	–	0.95%	–
EQH	New	AXA EQUITABLE HOLDINGS INC	$982,300,000	–	47,000	–	0.94%	–
NVT	New	NVENT ELECTRIC PLC	$892,440,000	–	36,000	–	0.86%	–
BGS	New	B&G FOODS INC	$852,800,000	–	41,000	–	0.82%	–
WDR	New	WADDELL & REED FINANCIAL-A	$850,170,000	–	51,000	–	0.82%	–
AIR	New	AAR CORP	$814,641,000	–	22,143	–	0.78%	–
CUTR	New	CUTERA INC	$800,030,000	–	38,500	–	0.77%	–
BLMN	New	BLOOMIN' BRANDS INC	$799,893,000	–	42,300	–	0.77%	–
BSIG	New	BRIGHTSPHERE INVESTMENT GROU	$798,700,000	–	70,000	–	0.77%	–
SGH	New	SMART GLOBAL HOLDINGS INC	$774,763,000	–	33,700	–	0.74%	–
SYNA	New	SYNAPTICS INC	$772,210,000	–	26,500	–	0.74%	–
AYR	New	AIRCASTLE LTD	$744,100,000	–	35,000	–	0.71%	–
UCTT	New	ULTRA CLEAN HOLDINGS INC	$739,152,000	–	53,100	–	0.71%	–
LYB	New	LYONDELLBASELL INDUSTRIES N.V	$723,492,000	–	8,400	–	0.69%	–
MSTR	New	MICROSTRATEGY INC-CL A	$719,416,000	–	5,020	–	0.69%	–
VREX	New	VAREX IMAGING CORP	$717,210,000	–	23,400	–	0.69%	–
NTUS	New	NATUS MEDICAL INC	$709,044,000	–	27,600	–	0.68%	–
UNM	New	UNUM GROUP	$704,550,000	–	21,000	–	0.68%	–
EAT	New	BRINKER INTERNATIONAL INC	$684,690,000	–	17,400	–	0.66%	–
LCI	New	LANNETT CO INC	$681,750,000	–	112,500	–	0.65%	–
LNC	New	Lincoln National Corp	$676,725,000	–	10,500	–	0.65%	–
MTRX	New	MATRIX SERVICE CO	$670,606,000	–	33,100	–	0.64%	–
TGI	New	TRIUMPH GROUP INC	$664,100,000	–	29,000	–	0.64%	–
AMCX	New	AMC NETWORKS INC-A	$653,880,000	–	12,000	–	0.63%	–
CJ	New	C&J ENERGY SERVICES INC	$642,010,000	–	54,500	–	0.62%	–
RRGB	New	RED ROBIN GOURMET BURGERS	$641,970,000	–	21,000	–	0.62%	–
OFIX	New	ORTHOFIX MEDICAL INC	$634,560,000	–	12,000	–	0.61%	–
PLAB	New	PHOTRONICS INC	$631,400,000	–	77,000	–	0.61%	–
URI	New	UNITED RENTALS INC	$623,361,000	–	4,700	–	0.60%	–
MHO	New	M/I HOMES INC	$613,610,000	–	21,500	–	0.59%	–
TDC	New	TERADATA CORP	$613,035,000	–	17,100	–	0.59%	–
SNCR	New	SYNCHRONOSS TECHNOLOGIES INC	$609,070,000	–	77,000	–	0.58%	–
AAL	New	AMERICAN AIRLINES GROUP INC	$600,024,000	–	18,400	–	0.58%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$598,620,000	–	13,200	–	0.57%	–
ALSN	New	ALLISON TRANSMISSION HOLDING	$579,375,000	–	12,500	–	0.56%	–
WLH	New	WILLIAM LYON HOMES-CL A	$576,068,000	–	31,600	–	0.55%	–
TMHC	New	TAYLOR MORRISON HOME CORP-A	$544,960,000	–	26,000	–	0.52%	–
GPI	New	GROUP 1 AUTOMOTIVE INC	$540,474,000	–	6,600	–	0.52%	–
TPH	New	TRI POINTE GROUP INC	$526,680,000	–	44,000	–	0.50%	–
CCS	New	CENTURY COMMUNITIES INC	$518,310,000	–	19,500	–	0.50%	–
RVRA	New	RIVIERA RESOURCES INC	$507,429,000	–	39,955	–	0.49%	–
MU	New	MICRON TECHNOLOGY INC	$497,811,000	–	12,900	–	0.48%	–
MTOR	New	MERITOR INC	$497,125,000	–	20,500	–	0.48%	–
AXP	New	AMERICAN EXPRESS CO	$493,760,000	–	4,000	–	0.47%	–
RLGY	New	REALOGY HOLDINGS CORP	$448,880,000	–	62,000	–	0.43%	–
MNKKQ	New	MALLINCKRODT PLC	$436,968,000	–	47,600	–	0.42%	–
AAWW	New	ATLAS AIR WORLDWIDE	$433,008,000	–	9,700	–	0.42%	–
GLRE	New	GREENLIGHT CAPITAL RE LTD-A	$415,161,000	–	48,900	–	0.40%	–
FRGI	New	FIESTA RESTAURANT GROUP	$400,770,000	–	30,500	–	0.38%	–
TPCO	New	TRIBUNE PUBLISHING CO	$398,500,000	–	50,000	–	0.38%	–
PKX	New	POSCO- SPON ADR	$371,420,000	–	7,000	–	0.36%	–
AKRXQ	New	AKORN INC	$363,075,000	–	70,500	–	0.35%	–
PBI	New	PITNEY BOWES INC	$359,520,000	–	84,000	–	0.34%	–
THC	New	TENET HEALTHCARE CORP	$351,220,000	–	17,000	–	0.34%	–
OSPN	New	ONESPAN INC	$334,412,000	–	23,600	–	0.32%	–
WGO	New	WINNEBAGO INDUSTRIES	$328,525,000	–	8,500	–	0.32%	–
AMPY	New	AMPLIFY ENERGY CORP	$328,026,000	–	58,786	–	0.32%	–
UNFI	New	UNITED NATURAL FOODS INC	$322,920,000	–	36,000	–	0.31%	–
AHC	New	A H BELO CORPORTAION SERIES A	$302,949,000	–	82,100	–	0.29%	–
GME	New	GAMESTOP CORP-CLASS A	$289,910,000	–	53,000	–	0.28%	–
AOSL	New	ALPHA & OMEGA SEMICONDUCTOR	$260,894,000	–	27,933	–	0.25%	–
GNTX	New	GENTEX CORP	$258,405,000	–	10,500	–	0.25%	–
MYL	New	MYLAN NV	$243,712,000	–	12,800	–	0.23%	–
GIFI	New	GULF ISLAND FABRICATION INC	$210,870,000	–	29,700	–	0.20%	–
OMI	New	OWENS & MINOR INC	$208,000,000	–	65,000	–	0.20%	–
ETM	New	ENTERCOM COMMUNICATIONS-CL A	$197,200,000	–	34,000	–	0.19%	–
CC	New	CHEMOURS CO/THE	$192,000,000	–	8,000	–	0.18%	–
GNRC	New	GENERAC HOLDINGS INC	$166,584,000	–	2,400	–	0.16%	–
CHUY	New	CHUY'S HOLDINGS INC	$137,520,000	–	6,000	–	0.13%	–
LKSDQ	New	LSC COMMUNICATIONS INC	$128,450,000	–	35,000	–	0.12%	–
TRWH	New	TWIN RIVER WORLDWIDE HOLDING	$119,000,000	–	4,000	–	0.11%	–
IVC	New	INVACARE CORP	$103,951,000	–	20,029	–	0.10%	–
KEM	New	KEMET CORPORATION CMN	$94,050,000	–	5,000	–	0.09%	–
AZO	New	AUTOZONE INC	$76,963,000	–	70	–	0.07%	–
MPO	New	MIDSTATES PETROLEUM CO INC	$51,838,000	–	8,801	–	0.05%	–

Q4 2018

			Value		Shares		↓ Weighting
GCI	Exit	GANNETT ORD SHS	$0	–	-4,000	–	-0.03%	–
AZO	Exit	AUTOZONE INC	$0	–	-100	–	-0.07%	–
EGL	Exit	ENGILITY HOLDINGS INC	$0	–	-2,600	–	-0.08%	–
NTUS	Exit	NATUS MEDICAL INC	$0	–	-3,100	–	-0.10%	–
ANGO	Exit	ANGIODYNAMICS INC	$0	–	-5,100	–	-0.10%	–
AZN	Exit	ASTRAZENECA PLC SPONS ADR	$0	–	-3,000	–	-0.10%	–
LKSDQ	Exit	LSC COMMUNICATIONS INC	$0	–	-12,000	–	-0.11%	–
AKRXQ	Exit	AKORN INC CMN	$0	–	-15,500	–	-0.17%	–
HBB	Exit	HAMILTON BEACH BRAND-A	$0	–	-9,376	–	-0.18%	–
QHCCQ	Exit	QUORUM HEALTH CORP	$0	–	-39,000	–	-0.20%	–
SYNA	Exit	SYNAPTICS, INC. CMN	$0	–	-5,100	–	-0.20%	–
TDW	Exit	TIDEWATER INC	$0	–	-8,300	–	-0.22%	–
GIFI	Exit	Gulf Island Fabrication, Inc	$0	–	-29,700	–	-0.25%	–
LCI	Exit	LANNETT CO INC	$0	–	-71,500	–	-0.29%	–
AHC	Exit	A H BELO CORPORATION SERIES A	$0	–	-82,100	–	-0.32%	–
AXP	Exit	AMERICAN EXPRESS CO. CMN	$0	–	-4,000	–	-0.37%	–
AFI	Exit	ARMSTRONG FLOORING INC	$0	–	-27,101	–	-0.42%	–
SNCR	Exit	SYNCHRONOSS TECHNOLOGIES INC	$0	–	-77,000	–	-0.44%	–
KLXI	Exit	KLX INC	$0	–	-8,100	–	-0.44%	–
VECO	Exit	Veeco Instruments Inc	$0	–	-50,000	–	-0.44%	–
BAC	Exit	BANK OF AMERICA CORP.	$0	–	-18,000	–	-0.46%	–
RVRA	Exit	RIVIERA RESOURCES INC/LINN	$0	–	-25,100	–	-0.46%	–
EAT	Exit	BRINKER INTL	$0	–	-11,600	–	-0.47%	–
ITGR	Exit	INTEGER HOLDINGS CORP	$0	–	-6,700	–	-0.48%	–
AGYS	Exit	AGILYSIS INC	$0	–	-35,835	–	-0.50%	–
M	Exit	MACY'S INC	$0	–	-17,000	–	-0.51%	–
LEE	Exit	LEE ENTERPRISES	$0	–	-223,639	–	-0.51%	–
IVC	Exit	Invacare Corporation	$0	–	-41,029	–	-0.51%	–
AHL	Exit	ASPEN INS. HOLD.	$0	–	-14,600	–	-0.52%	–
ADES	Exit	ADA-ES INC	$0	–	-53,057	–	-0.54%	–
GLRE	Exit	GREENLIGHT CAPITAL RE LTD-A	$0	–	-51,900	–	-0.55%	–
MNKKQ	Exit	MALLINCKRODT PLC	$0	–	-22,100	–	-0.56%	–
AOSL	Exit	ALPHA & OMEGA SEMICONDUCTOR	$0	–	-56,133	–	-0.56%	–
LPNT	Exit	LIFEPOINT HOSPITALS INC CMN	$0	–	-10,300	–	-0.57%	–
UCTT	Exit	ULTRA CLEAN HOLDINGS, INC	$0	–	-53,100	–	-0.57%	–
MDRIQ	Exit	MCDERMOTT	$0	–	-36,666	–	-0.58%	–
TGI	Exit	TRIUMPH GROUP INC CMN	$0	–	-29,000	–	-0.58%	–
LLY	Exit	LILLY ELI & CO	$0	–	-6,300	–	-0.58%	–
ICHR	Exit	ICHOR HOLDINGS LTD	$0	–	-35,000	–	-0.61%	–
FTI	Exit	FMC TECHNOLOGIES INC	$0	–	-23,200	–	-0.62%	–
AMCX	Exit	AMC NETWORKS INC	$0	–	-11,000	–	-0.63%	–
MYL	Exit	MYLAN, INC	$0	–	-20,000	–	-0.63%	–
VREX	Exit	VAREX IMAGING CORP	$0	–	-25,600	–	-0.63%	–
TIVO	Exit	TIVO INC CMN	$0	–	-59,000	–	-0.63%	–
LNTH	Exit	LANTHEUS HOLDINGS INC	$0	–	-49,400	–	-0.63%	–
PLAB	Exit	PHOTRONICS INC CMN	$0	–	-75,500	–	-0.64%	–
BSIG	Exit	BRIGHTSPHERE INVESTMENT GROUP	$0	–	-62,000	–	-0.66%	–
VOOV	Exit	VANGUARD S&P 500 VALUE ETF	$0	–	-6,900	–	-0.66%	–
BLMN	Exit	BLOOMIN' BRANDS INC	$0	–	-39,800	–	-0.68%	–
TRI	Exit	TRONC INC	$0	–	-50,000	–	-0.70%	–
RRGB	Exit	RED ROBIN GRMT BURG	$0	–	-20,500	–	-0.71%	–
OSPN	Exit	ONESPAN INC	$0	–	-43,400	–	-0.71%	–
OFIX	Exit	ORTHOFIX MEDICAL INC	$0	–	-15,000	–	-0.74%	–
PAHC	Exit	PHIBRO ANIMAL HEALTH CORP-A	$0	–	-20,800	–	-0.77%	–
VEC	Exit	VECTRUS INC	$0	–	-29,155	–	-0.78%	–
CJ	Exit	C&J ENERGY SERVICES INC	$0	–	-44,000	–	-0.79%	–
MSTR	Exit	MICROSTRATEGY INC-CL A	$0	–	-6,700	–	-0.81%	–
AIR	Exit	AAR CORP COM	$0	–	-19,743	–	-0.81%	–
SYMC	Exit	SYMANTEC CORP	$0	–	-44,600	–	-0.82%	–
TPRE	Exit	THOMSON CORPORATION CMN	$0	–	-21,000	–	-0.82%	–
MTRX	Exit	MATRIX SERVICE CO	$0	–	-39,600	–	-0.84%	–
TPCO	Exit	THIRD POINT REINSURANCE LTD	$0	–	-78,000	–	-0.87%	–
RDC	Exit	ROWAN COMPANIES INC CMN	$0	–	-56,000	–	-0.91%	–
WTM	Exit	WHITE MOUNTAINS INSURANCE GRP	$0	–	-1,127	–	-0.91%	–
WDR	Exit	WADDELL & REED FINANCIAL-A	$0	–	-50,000	–	-0.91%	–
JNJ	Exit	Johnson & Johnson	$0	–	-7,900	–	-0.94%	–
IWN	Exit	ISHARES RUSSELL 2000 VALUE	$0	–	-8,800	–	-1.00%	–
THC	Exit	TENET HEALTHCARE CORP	$0	–	-44,400	–	-1.08%	–
NVT	Exit	NAVTEQ CORPORATION CMN	$0	–	-47,000	–	-1.10%	–
PRGO	Exit	PERRIGO PLC	$0	–	-18,200	–	-1.11%	–
DFS	Exit	DISCOVER FIN'L SERVICES	$0	–	-18,000	–	-1.18%	–
NWL	Exit	Newell Rubbermaid Inc	$0	–	-71,000	–	-1.24%	–
CLF	Exit	CLIFFS NATURAL RESOURCES INC	$0	–	-117,000	–	-1.27%	–
BGS	Exit	B&G Foods Inc.	$0	–	-54,200	–	-1.28%	–
GILD	Exit	GILEAD SCIENCE COM	$0	–	-19,800	–	-1.31%	–
SJM	Exit	JM SMUCKER CO/THE	$0	–	-15,400	–	-1.36%	–
VIAB	Exit	Viacom Inc	$0	–	-49,000	–	-1.42%	–
VVV	Exit	VALVOLINE INC	$0	–	-82,600	–	-1.53%	–
KSU	Exit	KANSAS CITY SOUTHERN CMN	$0	–	-15,800	–	-1.54%	–
RLGY	Exit	REALOGY HOLDINGS CORP	$0	–	-92,000	–	-1.63%	–
CPB	Exit	CAMPBELL SOUP CO	$0	–	-56,600	–	-1.78%	–
VALE	Exit	COMPANHIA VALE DO RIO DOCE ADR	$0	–	-144,000	–	-1.84%	–
TRV	Exit	TRAVELERS COS INC/THE	$0	–	-16,600	–	-1.85%	–
WFC	Exit	WELLS FARGO	$0	–	-41,100	–	-1.86%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-29,800	–	-1.88%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-11,600	–	-1.95%	–
AAPL	Exit	APPLE COMPUTER INC	$0	–	-10,250	–	-1.99%	–
BHC	Exit	BAUSCH HEALTH COS INC	$0	–	-90,200	–	-1.99%	–
DIN	Exit	DINE BRANDS GLOBAL INC	$0	–	-29,200	–	-2.04%	–
LM	Exit	LEGG MASON INC CMN	$0	–	-76,800	–	-2.06%	–
WYND	Exit	WYNDHAM DESTINATIONS INC	$0	–	-57,000	–	-2.12%	–
CFG	Exit	CITIZENS FINANCIAL GROUP	$0	–	-70,700	–	-2.34%	–
GWR	Exit	GENESEE & WYO INC CL A	$0	–	-34,000	–	-2.66%	–
BEN	Exit	FRANKLIN RES INC	$0	–	-103,000	–	-2.69%	–
VZ	Exit	VERIZON COMMUNICATIONS INC. CMN	$0	–	-59,900	–	-2.75%	–
TEVA	Exit	Teva Pharmaceutical Industries	$0	–	-149,000	–	-2.76%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO W/RTS TO PUR P/STK UNDER CERT CIRCUMSTATANCE	$0	–	-52,500	–	-2.80%	–
COF	Exit	CAPITAL ONE FINANCIAL CORP	$0	–	-35,400	–	-2.89%	–
C	Exit	Citigroup Inc	$0	–	-52,900	–	-3.26%	–
NSC	Exit	NORFOLK SOUTHERN CORP	$0	–	-23,000	–	-3.57%	–

Q3 2018

			Value		Shares		↓ Weighting
NSC	Sell	NORFOLK SOUTHERN CORP	$4,151,500,000	-5.1%	23,000	-20.7%	3.57%	-8.8%
BMY	Sell	BRISTOL MYERS SQUIBB CO W/RTS TO PUR P/STK UNDER CERT CIRCUMSTATANCE	$3,259,200,000	+6.1%	52,500	-5.4%	2.80%	+2.0%
TEVA	Sell	Teva Pharmaceutical Industries	$3,209,460,000	-13.7%	149,000	-2.6%	2.76%	-17.1%
BEN	Buy	FRANKLIN RES INC	$3,132,230,000	+23.7%	103,000	+30.4%	2.69%	+18.9%
WYND	Buy	WYNDHAM DESTINATIONS INC	$2,471,520,000	+9.9%	57,000	+12.2%	2.12%	+5.6%
DIN	Sell	DINE BRANDS GLOBAL INC	$2,374,252,000	+5.1%	29,200	-3.3%	2.04%	+1.0%
BHC	Sell	BAUSCH HEALTH COS INC	$2,315,434,000	+8.1%	90,200	-2.2%	1.99%	+3.9%
AAPL	Sell	APPLE COMPUTER INC	$2,313,835,000	+5.5%	10,250	-13.5%	1.99%	+1.4%
SPGI	Sell	S&P GLOBAL INC	$2,266,524,000	-8.9%	11,600	-4.9%	1.95%	-12.5%
ABT	New	ABBOTT LABORATORIES	$2,186,128,000	–	29,800	–	1.88%	–
WFC	Buy	WELLS FARGO	$2,160,216,000	+16.0%	41,100	+22.3%	1.86%	+11.5%
TRV	Buy	TRAVELERS COS INC/THE	$2,153,186,000	+12.1%	16,600	+5.7%	1.85%	+7.7%
CPB	Buy	CAMPBELL SOUP CO	$2,073,258,000	-8.0%	56,600	+1.8%	1.78%	-11.6%
RLGY	Buy	REALOGY HOLDINGS CORP	$1,898,880,000	-8.5%	92,000	+1.1%	1.63%	-12.1%
KSU	Buy	KANSAS CITY SOUTHERN CMN	$1,789,824,000	+68.9%	15,800	+58.0%	1.54%	+62.3%
VVV	Buy	VALVOLINE INC	$1,776,726,000	+0.9%	82,600	+1.2%	1.53%	-3.0%
SJM	Sell	JM SMUCKER CO/THE	$1,580,194,000	-15.0%	15,400	-11.0%	1.36%	-18.4%
GILD	Sell	GILEAD SCIENCE COM	$1,528,758,000	-4.5%	19,800	-12.4%	1.31%	-8.2%
BGS	Buy	B&G Foods Inc.	$1,487,790,000	+41.4%	54,200	+54.0%	1.28%	+35.8%
CLF	New	CLIFFS NATURAL RESOURCES INC	$1,481,220,000	–	117,000	–	1.27%	–
NWL	Buy	Newell Rubbermaid Inc	$1,441,300,000	+59.7%	71,000	+102.9%	1.24%	+53.4%
DFS	Buy	DISCOVER FIN'L SERVICES	$1,376,100,000	+24.5%	18,000	+14.6%	1.18%	+19.6%
PRGO	Buy	PERRIGO PLC	$1,288,560,000	+0.4%	18,200	+3.4%	1.11%	-3.5%
NVT	Buy	NAVTEQ CORPORATION CMN	$1,276,520,000	+10.6%	47,000	+2.2%	1.10%	+6.3%
THC	Buy	TENET HEALTHCARE CORP	$1,263,624,000	-14.3%	44,400	+1.1%	1.08%	-17.6%
IWN	Buy	ISHARES RUSSELL 2000 VALUE	$1,170,400,000	+40.8%	8,800	+39.7%	1.00%	+35.3%
JNJ	New	Johnson & Johnson	$1,091,543,000	–	7,900	–	0.94%	–
RDC	Buy	ROWAN COMPANIES INC CMN	$1,054,480,000	+18.2%	56,000	+1.8%	0.91%	+13.7%
WTM	Sell	WHITE MOUNTAINS INSURANCE GRP	$1,054,725,000	-2.8%	1,127	-5.8%	0.91%	-6.6%
TPCO	New	THIRD POINT REINSURANCE LTD	$1,014,000,000	–	78,000	–	0.87%	–
MTRX	Sell	MATRIX SERVICE CO	$976,140,000	+13.7%	39,600	-15.4%	0.84%	+9.2%
TPRE	Sell	THOMSON CORPORATION CMN	$959,280,000	+9.6%	21,000	-70.0%	0.82%	+5.4%
SYMC	Sell	SYMANTEC CORP	$949,088,000	-0.7%	44,600	-3.7%	0.82%	-4.7%
AIR	Sell	AAR CORP COM	$945,492,000	-1.0%	19,743	-3.9%	0.81%	-4.9%
CJ	Buy	C&J ENERGY SERVICES INC	$915,200,000	+169.3%	44,000	+205.6%	0.79%	+158.6%
VEC	Sell	VECTRUS INC	$909,344,000	-5.3%	29,155	-6.4%	0.78%	-9.0%
PAHC	Buy	PHIBRO ANIMAL HEALTH CORP-A	$892,320,000	-5.5%	20,800	+1.5%	0.77%	-9.1%
OFIX	New	ORTHOFIX MEDICAL INC	$867,150,000	–	15,000	–	0.74%	–
OSPN	Sell	ONESPAN INC	$826,770,000	-9.3%	43,400	-6.5%	0.71%	-12.9%
RRGB	Buy	RED ROBIN GRMT BURG	$823,075,000	-9.4%	20,500	+5.1%	0.71%	-12.9%
TRI	New	TRONC INC	$816,500,000	–	50,000	–	0.70%	–
VOOV	Sell	VANGUARD S&P 500 VALUE ETF	$770,799,000	-20.2%	6,900	-24.2%	0.66%	-23.4%
PLAB	Buy	PHOTRONICS INC CMN	$743,675,000	+32.3%	75,500	+7.1%	0.64%	+27.0%
LNTH	Sell	LANTHEUS HOLDINGS INC	$738,530,000	-16.7%	49,400	-18.9%	0.63%	-19.9%
TIVO	Buy	TIVO INC CMN	$734,550,000	+1.1%	59,000	+9.3%	0.63%	-2.8%
VREX	Buy	VAREX IMAGING CORP	$733,696,000	+73.5%	25,600	+124.6%	0.63%	+66.7%
MYL	New	MYLAN, INC	$732,000,000	–	20,000	–	0.63%	–
FTI	Sell	FMC TECHNOLOGIES INC	$725,000,000	-37.9%	23,200	-37.0%	0.62%	-40.3%
ICHR	New	ICHOR HOLDINGS LTD	$714,700,000	–	35,000	–	0.61%	–
LLY	Sell	LILLY ELI & CO	$676,053,000	-77.2%	6,300	-81.9%	0.58%	-78.1%
MDRIQ	Buy	MCDERMOTT	$675,754,000	-0.8%	36,666	+5.8%	0.58%	-4.8%
UCTT	Buy	ULTRA CLEAN HOLDINGS, INC	$666,405,000	-21.4%	53,100	+3.9%	0.57%	-24.5%
LPNT	Sell	LIFEPOINT HOSPITALS INC CMN	$663,320,000	-42.2%	10,300	-56.2%	0.57%	-44.4%
MNKKQ	Sell	MALLINCKRODT PLC	$647,751,000	-35.0%	22,100	-58.6%	0.56%	-37.6%
GLRE	Sell	GREENLIGHT CAPITAL RE LTD-A	$643,560,000	-24.3%	51,900	-13.4%	0.55%	-27.2%
AHL	Sell	ASPEN INS. HOLD.	$610,280,000	-29.6%	14,600	-31.5%	0.52%	-32.4%
IVC	Sell	Invacare Corporation	$596,971,000	-37.1%	41,029	-19.6%	0.51%	-39.5%
M	Sell	MACY'S INC	$590,410,000	-24.9%	17,000	-19.0%	0.51%	-27.9%
AGYS	Buy	AGILYSIS INC	$584,110,000	+48.7%	35,835	+41.4%	0.50%	+43.0%
EAT	Sell	BRINKER INTL	$542,068,000	-9.6%	11,600	-7.9%	0.47%	-13.1%
RVRA	New	RIVIERA RESOURCES INC/LINN	$538,395,000	–	25,100	–	0.46%	–
BAC	Buy	BANK OF AMERICA CORP.	$530,280,000	+1781.1%	18,000	+1700.0%	0.46%	+1724.0%
VECO	New	Veeco Instruments Inc	$512,500,000	–	50,000	–	0.44%	–
SNCR	Buy	SYNCHRONOSS TECHNOLOGIES INC	$508,200,000	+14.4%	77,000	+6.9%	0.44%	+10.1%
KLXI	Sell	KLX INC	$508,518,000	-29.3%	8,100	-19.0%	0.44%	-32.0%
AFI	Sell	ARMSTRONG FLOORING INC	$490,528,000	+5.5%	27,101	-18.1%	0.42%	+1.4%
LCI	Buy	LANNETT CO INC	$339,625,000	-57.3%	71,500	+22.2%	0.29%	-58.9%
TDW	Sell	TIDEWATER INC	$258,877,000	-13.1%	8,300	-19.4%	0.22%	-16.5%
SYNA	Sell	SYNAPTICS, INC. CMN	$232,662,000	-67.2%	5,100	-63.8%	0.20%	-68.5%
QHCCQ	Sell	QUORUM HEALTH CORP	$228,540,000	+6.3%	39,000	-9.3%	0.20%	+2.1%
AKRXQ	New	AKORN INC CMN	$201,190,000	–	15,500	–	0.17%	–
AZN	New	ASTRAZENECA PLC SPONS ADR	$118,710,000	–	3,000	–	0.10%	–
ANGO	Sell	ANGIODYNAMICS INC	$110,874,000	-46.4%	5,100	-45.2%	0.10%	-48.6%
NTUS	New	NATUS MEDICAL INC	$110,515,000	–	3,100	–	0.10%	–
EGL	Sell	ENGILITY HOLDINGS INC	$93,574,000	-33.6%	2,600	-43.5%	0.08%	-36.5%
RGA	Exit	REINSURANCE GROUP OF AMERICA INC	$0	–	-400	–	-0.05%	–
BJRI	Exit	BJS RESTAURANTS INC CMN	$0	–	-1,700	–	-0.09%	–
WH	Exit	WYNDHAM HOTELS & RESORTS INC	$0	–	-3,200	–	-0.17%	–
L100PS	Exit	ARCONIC INC	$0	–	-16,600	–	-0.25%	–
FSLR	Exit	FIRST SOLAR, INC. CMN	$0	–	-5,500	–	-0.26%	–
K	Exit	KELLOGG COMPANY CMN	$0	–	-6,000	–	-0.38%	–
KLIC	Exit	KULICKE & SOFFA IND	$0	–	-22,300	–	-0.48%	–
CA	Exit	CA INC	$0	–	-15,500	–	-0.49%	–
OFIX	Exit	ORTHOFIX INTERNATIONAL NV	$0	–	-15,200	–	-0.77%	–
TRNC	Exit	TRONC INC	$0	–	-50,000	–	-0.77%	–
VST	Exit	VISTRA ENERGY CORP	$0	–	-37,000	–	-0.78%	–

Q2 2018

			Value		Shares		↓ Weighting
NSC	New	NORFOLK SOUTHERN CORP	$4,375,230,000	–	29,000	–	3.91%	–
TEVA	New	Teva Pharmaceutical Industries	$3,720,960,000	–	153,000	–	3.33%	–
C	New	Citigroup Inc	$3,540,068,000	–	52,900	–	3.16%	–
COF	New	CAPITAL ONE FINANCIAL CORP	$3,253,260,000	–	35,400	–	2.91%	–
BMY	New	BRISTOL MYERS SQUIBB CO W/RTS TO PUR P/STK UNDER CERT CIRCUMSTATANCE	$3,071,370,000	–	55,500	–	2.74%	–
VZ	New	VERIZON COMMUNICATIONS INC. CMN	$3,013,569,000	–	59,900	–	2.69%	–
LLY	New	LILLY ELI & CO	$2,969,484,000	–	34,800	–	2.65%	–
GWR	New	GENESEE & WYO INC CL A	$2,764,880,000	–	34,000	–	2.47%	–
CFG	New	CITIZENS FINANCIAL GROUP	$2,750,230,000	–	70,700	–	2.46%	–
LM	New	LEGG MASON INC CMN	$2,667,264,000	–	76,800	–	2.38%	–
BEN	New	FRANKLIN RES INC	$2,531,950,000	–	79,000	–	2.26%	–
SPGI	New	S&P GLOBAL INC	$2,487,458,000	–	12,200	–	2.22%	–
DIN	New	DINE BRANDS GLOBAL INC	$2,258,960,000	–	30,200	–	2.02%	–
CPB	New	CAMPBELL SOUP CO	$2,254,024,000	–	55,600	–	2.02%	–
WYND	New	WYNDHAM DESTINATIONS INC	$2,248,916,000	–	50,800	–	2.01%	–
AAPL	New	APPLE COMPUTER INC	$2,193,553,000	–	11,850	–	1.96%	–
BHC	New	VALEANT PHARMACEUTICALS INTERN	$2,142,728,000	–	92,200	–	1.92%	–
RLGY	New	REALOGY HOLDINGS CORP	$2,074,800,000	–	91,000	–	1.86%	–
TRV	New	TRAVELERS COS INC/THE	$1,920,738,000	–	15,700	–	1.72%	–
WFC	New	WELLS FARGO	$1,862,784,000	–	33,600	–	1.66%	–
SJM	New	JM SMUCKER CO/THE	$1,859,404,000	–	17,300	–	1.66%	–
VALE	New	COMPANHIA VALE DO RIO DOCE ADR	$1,846,080,000	–	144,000	–	1.65%	–
VVV	New	VALVOLINE INC	$1,760,112,000	–	81,600	–	1.57%	–
GILD	New	GILEAD SCIENCE COM	$1,600,984,000	–	22,600	–	1.43%	–
VIAB	New	Viacom Inc	$1,477,840,000	–	49,000	–	1.32%	–
THC	New	TENET HEALTHCARE CORP	$1,473,723,000	–	43,900	–	1.32%	–
PRGO	New	PERRIGO PLC	$1,283,216,000	–	17,600	–	1.15%	–
FTI	New	FMC TECHNOLOGIES INC	$1,168,032,000	–	36,800	–	1.04%	–
NVT	New	NAVTEQ CORPORATION CMN	$1,154,600,000	–	46,000	–	1.03%	–
LPNT	New	LIFEPOINT HOSPITALS INC CMN	$1,146,800,000	–	23,500	–	1.02%	–
DFS	New	DISCOVER FIN'L SERVICES	$1,105,437,000	–	15,700	–	0.99%	–
WTM	New	WHITE MOUNTAINS INSURANCE GRP	$1,085,212,000	–	1,197	–	0.97%	–
KSU	New	KANSAS CITY SOUTHERN CMN	$1,059,600,000	–	10,000	–	0.95%	–
BGS	New	B&G Foods Inc.	$1,052,480,000	–	35,200	–	0.94%	–
MNKKQ	New	MALLINCKRODT PLC	$996,444,000	–	53,400	–	0.89%	–
VOOV	New	VANGUARD S&P 500 VALUE ETF	$966,420,000	–	9,100	–	0.86%	–
VEC	New	VECTRUS INC	$960,197,000	–	31,155	–	0.86%	–
SYMC	New	SYMANTEC CORP	$956,095,000	–	46,300	–	0.86%	–
AIR	New	AAR CORP COM	$955,044,000	–	20,543	–	0.85%	–
IVC	New	Invacare Corporation	$949,139,000	–	51,029	–	0.85%	–
PAHC	New	PHIBRO ANIMAL HEALTH CORP-A	$944,025,000	–	20,500	–	0.84%	–
OSPN	New	ONESPAN INC	$911,760,000	–	46,400	–	0.82%	–
RRGB	New	RED ROBIN GRMT BURG	$908,700,000	–	19,500	–	0.81%	–
NWL	New	Newell Rubbermaid Inc	$902,650,000	–	35,000	–	0.81%	–
WDR	New	WADDELL & REED FINANCIAL-A	$898,500,000	–	50,000	–	0.80%	–
RDC	New	ROWAN COMPANIES INC CMN	$892,100,000	–	55,000	–	0.80%	–
LNTH	New	LANTHEUS HOLDINGS INC	$886,095,000	–	60,900	–	0.79%	–
BSIG	New	BRIGHTSPHERE INVESTMENT GROUP	$884,120,000	–	62,000	–	0.79%	–
VST	New	VISTRA ENERGY CORP	$875,420,000	–	37,000	–	0.78%	–
TPRE	New	THIRD POINT REINSURANCE LTD	$875,000,000	–	70,000	–	0.78%	–
AHL	New	ASPEN INS. HOLD.	$866,910,000	–	21,300	–	0.78%	–
TRNC	New	TRONC INC	$864,000,000	–	50,000	–	0.77%	–
OFIX	New	ORTHOFIX INTERNATIONAL NV	$863,664,000	–	15,200	–	0.77%	–
MTRX	New	MATRIX SERVICE CO	$858,780,000	–	46,800	–	0.77%	–
MSTR	New	MICROSTRATEGY INC-CL A	$855,925,000	–	6,700	–	0.76%	–
GLRE	New	GREENLIGHT CAPITAL RE LTD-A	$850,580,000	–	59,900	–	0.76%	–
UCTT	New	ULTRA CLEAN HOLDINGS, INC	$848,260,000	–	51,100	–	0.76%	–
IWN	New	ISHARES RUSSELL 2000 VALUE	$831,096,000	–	6,300	–	0.74%	–
AOSL	New	ALPHA & OMEGA SEMICONDUCTOR	$799,334,000	–	56,133	–	0.72%	–
BLMN	New	BLOOMIN' BRANDS INC	$799,980,000	–	39,800	–	0.72%	–
LCI	New	LANNETT CO INC	$795,600,000	–	58,500	–	0.71%	–
M	New	MACY'S INC	$786,030,000	–	21,000	–	0.70%	–
TIVO	New	TIVO INC CMN	$726,300,000	–	54,000	–	0.65%	–
KLXI	New	KLX INC	$719,000,000	–	10,000	–	0.64%	–
SYNA	New	SYNAPTICS, INC. CMN	$710,217,000	–	14,100	–	0.64%	–
AMCX	New	AMC NETWORKS INC	$684,200,000	–	11,000	–	0.61%	–
MDRIQ	New	MCDERMOTT	$681,187,000	–	34,666	–	0.61%	–
LEE	New	LEE ENTERPRISES	$637,371,000	–	223,639	–	0.57%	–
ADES	New	ADA-ES INC	$602,727,000	–	53,057	–	0.54%	–
EAT	New	BRINKER INTL	$599,760,000	–	12,600	–	0.54%	–
TGI	New	TRIUMPH GROUP INC CMN	$568,400,000	–	29,000	–	0.51%	–
PLAB	New	PHOTRONICS INC CMN	$562,238,000	–	70,500	–	0.50%	–
CA	New	CA INC	$552,575,000	–	15,500	–	0.49%	–
KLIC	New	KULICKE & SOFFA IND	$531,186,000	–	22,300	–	0.48%	–
AFI	New	ARMSTRONG FLOORING INC	$464,738,000	–	33,101	–	0.42%	–
SNCR	New	SYNCHRONOSS TECHNOLOGIES INC	$444,240,000	–	72,000	–	0.40%	–
ITGR	New	INTEGER HOLDINGS CORP	$433,155,000	–	6,700	–	0.39%	–
VREX	New	VAREX IMAGING CORP	$422,826,000	–	11,400	–	0.38%	–
K	New	KELLOGG COMPANY CMN	$419,220,000	–	6,000	–	0.38%	–
AGYS	New	AGILYSIS INC	$392,692,000	–	25,335	–	0.35%	–
AXP	New	AMERICAN EXPRESS CO. CMN	$392,000,000	–	4,000	–	0.35%	–
AHC	New	A H BELO CORPORTAION SERIES A	$385,870,000	–	82,100	–	0.34%	–
CJ	New	C&J ENERGY SERVICES INC	$339,840,000	–	14,400	–	0.30%	–
TDW	New	TIDEWATER INC	$297,979,000	–	10,300	–	0.27%	–
FSLR	New	FIRST SOLAR, INC. CMN	$289,630,000	–	5,500	–	0.26%	–
L100PS	New	ARCONIC INC	$282,366,000	–	16,600	–	0.25%	–
HBB	New	HAMILTON BEACH BRAND-A	$272,373,000	–	9,376	–	0.24%	–
GIFI	New	Gulf Island Fabrication, Inc	$267,300,000	–	29,700	–	0.24%	–
QHCCQ	New	QUORUM HEALTH CORP	$215,000,000	–	43,000	–	0.19%	–
ANGO	New	ANGIODYNAMICS INC	$206,832,000	–	9,300	–	0.18%	–
LKSDQ	New	LSC COMMUNICATIONS INC	$187,920,000	–	12,000	–	0.17%	–
WH	New	WYNDHAM HOTELS & RESORTS INC	$188,256,000	–	3,200	–	0.17%	–
EGL	New	ENGILITY HOLDINGS INC	$140,944,000	–	4,600	–	0.13%	–
BJRI	New	BJS RESTAURANTS INC CMN	$102,000,000	–	1,700	–	0.09%	–
AZO	New	AUTOZONE INC	$67,093,000	–	100	–	0.06%	–
RGA	New	REINSURANCE GROUP OF AMERICA INC	$53,392,000	–	400	–	0.05%	–
GCI	New	GANNETT ORD SHS	$42,800,000	–	4,000	–	0.04%	–
BAC	New	BANK OF AMERICA CORP.	$28,190,000	–	1,000	–	0.02%	–

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Export Factorial Partners, LLC's holdings