Arnhold LLC Activity Q1 2018-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
GLD	Sell	SPDR GOLD TR	$109,505,629	-5.4%	638,703	-1.6%	13.06%	-0.4%
GOOGL	Sell	ALPHABET INCcap stk cl a	$39,398,020	+6.6%	301,070	-2.5%	4.70%	+12.2%
T	Buy	AT&T INC	$30,836,000	+4.6%	2,052,996	+11.1%	3.68%	+10.0%
CSCO	Sell	CISCO SYS INC	$24,915,341	-1.3%	463,455	-5.0%	2.97%	+3.8%
XPO	Sell	XPO INC	$23,244,570	-7.4%	311,339	-26.8%	2.77%	-2.6%
SLM	Buy	SLM CORP	$22,646,464	-11.8%	1,662,736	+5.7%	2.70%	-7.2%
GBDC	Buy	GOLUB CAP BDC INC	$22,163,597	+9.0%	1,510,811	+0.3%	2.64%	+14.6%
PFE	Buy	PFIZER INC	$18,570,490	+42.5%	559,858	+57.6%	2.21%	+49.9%
AXTA	Sell	AXALTA COATING SYS LTD	$18,382,330	-18.1%	683,358	-0.1%	2.19%	-13.9%
	Sell	KYNDRYL HLDGS INC	$18,231,181	+13.6%	1,207,363	-0.1%	2.17%	+19.5%
	Buy	COHERENT CORP	$17,551,997	-14.0%	537,745	+34.4%	2.09%	-9.5%
VZ	Buy	VERIZON COMMUNICATIONS INC	$17,362,005	-4.6%	535,699	+9.4%	2.07%	+0.3%
DAR	Sell	DARLING INGREDIENTS INC	$17,062,196	-18.3%	326,862	-0.1%	2.03%	-14.0%
DXC	Sell	DXC TECHNOLOGY CO	$16,685,642	-22.1%	801,039	-0.1%	1.99%	-18.1%
LEA	Sell	LEAR CORP	$16,489,557	-6.6%	122,873	-0.1%	1.97%	-1.7%
AVGO	Buy	BROADCOM INC	$16,137,339	+4.1%	19,429	+8.8%	1.92%	+9.6%
VTRS	Buy	VIATRIS INC	$15,790,741	+0.0%	1,601,495	+1.3%	1.88%	+5.3%
UNH	Sell	UNITEDHEALTH GROUP INC	$15,668,208	+4.8%	31,076	-0.1%	1.87%	+10.2%
HUM	Buy	HUMANA INC	$14,939,570	+21.1%	30,707	+11.3%	1.78%	+27.4%
BMY	Buy	BRISTOL-MYERS SQUIBB CO	$14,815,871	-0.0%	255,270	+10.2%	1.77%	+5.1%
AFL	Sell	AFLAC INC	$13,792,512	+9.8%	179,707	-0.1%	1.64%	+15.5%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$13,329,265	+2.8%	38,051	+0.0%	1.59%	+8.1%
SONY	Sell	SONY GROUP CORPsponsored adr	$13,274,850	-8.6%	161,083	-0.1%	1.58%	-3.8%
	Sell	ON HLDG AGnamen akt a	$12,909,676	-21.8%	464,043	-7.2%	1.54%	-17.7%
RTX	Buy	RTX CORPORATION	$12,575,102	-19.3%	174,727	+9.9%	1.50%	-15.1%
WHR	Sell	WHIRLPOOL CORP	$11,798,624	-10.2%	88,247	-0.1%	1.41%	-5.6%
OLN	Buy	OLIN CORP	$11,262,393	+26.3%	225,338	+29.8%	1.34%	+32.8%
BABA	Sell	ALIBABA GROUP HLDG LTDsponsored ads	$10,517,138	+4.0%	121,249	-0.1%	1.25%	+9.4%
FHN	Buy	FIRST HORIZON CORPORATION	$10,322,478	+14.1%	936,704	+16.7%	1.23%	+20.1%
WRK	Sell	WESTROCK CO	$9,705,810	-15.3%	271,112	-31.2%	1.16%	-10.9%
ADT	Sell	ADT INC DEL	$9,388,164	-0.6%	1,564,694	-0.1%	1.12%	+4.5%
BAC	Sell	BANK AMERICA CORP	$8,036,085	-4.7%	293,502	-0.1%	0.96%	+0.3%
MHK	Sell	MOHAWK INDS INC	$7,866,632	-16.9%	91,675	-0.1%	0.94%	-12.6%
VRT	Sell	VERTIV HOLDINGS CO	$7,803,258	+50.0%	209,765	-0.1%	0.93%	+57.6%
LITE	Sell	LUMENTUM HLDGS INC	$6,764,350	-34.6%	149,720	-17.8%	0.81%	-31.2%
NTR	Sell	NUTRIEN LTD	$5,480,397	+4.5%	88,737	-0.1%	0.65%	+9.7%
VMW	Sell	VMWARE INC	$5,407,936	-17.6%	32,484	-28.9%	0.64%	-13.3%
SNOW	Buy	SNOWFLAKE INCcl a	$3,641,578	+5.6%	23,837	+21.6%	0.43%	+11.0%
AMZN	Buy	AMAZON COM INC	$2,884,353	-2.1%	22,690	+0.4%	0.34%	+3.0%
SEE	Sell	SEALED AIR CORP NEW	$2,792,607	-17.9%	84,985	-0.1%	0.33%	-13.7%
JNJ	Sell	JOHNSON & JOHNSON	$1,905,601	-10.3%	12,235	-4.7%	0.23%	-5.8%
	Buy	WARNER BROS DISCOVERY INC	$1,646,734	-13.2%	151,633	+0.3%	0.20%	-8.8%
OGN	Buy	ORGANON & CO	$1,087,830	-9.0%	62,663	+9.0%	0.13%	-4.4%
MRK	Buy	MERCK & CO INC	$920,579	-8.7%	8,942	+2.3%	0.11%	-3.5%
USB	Sell	US BANCORP DEL	$827,492	-12.5%	25,030	-12.6%	0.10%	-7.5%
WMT	Sell	WALMART INC	$809,246	-0.7%	5,060	-2.4%	0.10%	+4.3%
HBI	Sell	HANESBRANDS INC	$606,391	-89.6%	153,129	-88.0%	0.07%	-89.1%
JPM	Buy	JPMORGAN CHASE & CO	$361,390	+1.3%	2,492	+1.6%	0.04%	+7.5%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$359,308	+11.4%	2,561	+6.2%	0.04%	+16.2%
	Buy	GITLAB INC	$322,328	-11.5%	7,128	+0.0%	0.04%	-7.3%
DDOG	New	DATADOG INC	$254,323	–	2,792	–	0.03%	–
HRB	New	BLOCK H & R INC	$241,136	–	5,600	–	0.03%	–
	Buy	BRAZE INC	$246,641	+18.6%	5,278	+11.1%	0.03%	+20.8%
ATR	Sell	APTARGROUP INC	$237,076	+5.4%	1,896	-2.3%	0.03%	+12.0%
NYCB	Sell	NEW YORK CMNTY BANCORP INC	$226,800	-13.5%	20,000	-14.3%	0.03%	-10.0%
WSBF	Buy	WATERSTONE FINL INC MD	$219,000	+0.8%	20,000	+33.3%	0.03%	+4.0%
	New	KATAPULT HOLDINGS INC	$190,566	–	18,610	–	0.02%	–
WIW	Buy	WESTERN AST INFL LKD OPP & I	$144,025	+8.4%	17,500	+16.7%	0.02%	+13.3%
	New	CURIS INC	$116,314	–	17,650	–	0.01%	–
	Exit	WEWORK INCcl a	$0	–	-35,000	–	-0.00%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-1,500	–	-0.02%	–
ALC	Exit	ALCON AG	$0	–	-2,526	–	-0.02%	–
CRIS	Exit	CURIS INC	$0	–	-353,003	–	-0.03%	–
KPLT	Exit	KATAPULT HOLDINGS INC	$0	–	-514,434	–	-0.05%	–
AON	Exit	AON PLC	$0	–	-3,054	–	-0.12%	–
PCH	Exit	POTLATCHDELTIC CORPORATION	$0	–	-29,723	–	-0.18%	–
CBOE	Exit	CBOE GLOBAL MKTS INC	$0	–	-14,798	–	-0.23%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-65,228	–	-0.62%	–

Q2 2023

			Value		Shares		↓ Weighting
GLD	New	SPDR GOLD TR	$115,699,904	–	649,015	–	13.11%	–
IAU	New	ISHARES GOLD TRishares new	$65,765,973	–	1,807,254	–	7.45%	–
GOOGL	New	ALPHABET INCcap stk cl a	$36,951,151	–	308,698	–	4.19%	–
T	New	AT&T INC	$29,472,665	–	1,847,816	–	3.34%	–
SLM	New	SLM CORP	$25,678,231	–	1,573,421	–	2.91%	–
CSCO	New	CISCO SYS INC	$25,245,188	–	487,924	–	2.86%	–
XPO	New	XPO INC	$25,103,674	–	425,486	–	2.84%	–
AXTA	New	AXALTA COATING SYS LTD	$22,445,616	–	684,109	–	2.54%	–
DXC	New	DXC TECHNOLOGY CO	$21,425,753	–	801,862	–	2.43%	–
DAR	New	DARLING INGREDIENTS INC	$20,876,043	–	327,262	–	2.37%	–
	New	COHERENT CORP	$20,401,278	–	400,182	–	2.31%	–
GBDC	New	GOLUB CAP BDC INC	$20,341,948	–	1,506,811	–	2.31%	–
VZ	New	VERIZON COMMUNICATIONS INC	$18,203,389	–	489,470	–	2.06%	–
LEA	New	LEAR CORP	$17,657,942	–	123,009	–	2.00%	–
	New	ON HLDG AGnamen akt a	$16,507,689	–	500,233	–	1.87%	–
	New	KYNDRYL HLDGS INC	$16,045,733	–	1,208,263	–	1.82%	–
VTRS	New	VIATRIS INC	$15,785,316	–	1,581,695	–	1.79%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$15,577,599	–	159,020	–	1.77%	–
AVGO	New	BROADCOM INC	$15,494,902	–	17,863	–	1.76%	–
UNH	New	UNITEDHEALTH GROUP INC	$14,953,191	–	31,111	–	1.70%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$14,819,453	–	231,735	–	1.68%	–
SONY	New	SONY GROUP CORPORATIONsponsored adr	$14,521,921	–	161,283	–	1.65%	–
WHR	New	WHIRLPOOL CORP	$13,142,472	–	88,329	–	1.49%	–
PFE	New	PFIZER INC	$13,028,296	–	355,188	–	1.48%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$12,971,640	–	38,040	–	1.47%	–
AFL	New	AFLAC INC	$12,557,439	–	179,906	–	1.42%	–
HUM	New	HUMANA INC	$12,332,293	–	27,581	–	1.40%	–
WRK	New	WESTROCK CO	$11,452,853	–	393,975	–	1.30%	–
LITE	New	LUMENTUM HLDGS INC	$10,335,979	–	182,196	–	1.17%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$10,114,439	–	121,349	–	1.15%	–
MHK	New	MOHAWK INDS INC	$9,466,374	–	91,764	–	1.07%	–
ADT	New	ADT INC DEL	$9,445,959	–	1,566,494	–	1.07%	–
FHN	New	FIRST HORIZON CORPORATION	$9,046,305	–	802,689	–	1.02%	–
OLN	New	OLIN CORP	$8,919,762	–	173,570	–	1.01%	–
BAC	New	BANK AMERICA CORP	$8,429,839	–	293,825	–	0.96%	–
AAPL	New	APPLE INC	$6,818,046	–	35,150	–	0.77%	–
VMW	New	VMWARE INC	$6,561,173	–	45,662	–	0.74%	–
SLV	New	ISHARES SILVER TRishares	$6,341,682	–	303,575	–	0.72%	–
MTB	New	M & T BK CORP	$6,073,274	–	49,073	–	0.69%	–
HBI	New	HANESBRANDS INC	$5,813,007	–	1,280,398	–	0.66%	–
ATVI	New	ACTIVISION BLIZZARD INC	$5,498,720	–	65,228	–	0.62%	–
NTR	New	NUTRIEN LTD	$5,245,707	–	88,835	–	0.60%	–
VRT	New	VERTIV HOLDINGS CO	$5,201,551	–	209,994	–	0.59%	–
TROW	New	PRICE T ROWE GROUP INC	$4,633,819	–	41,366	–	0.52%	–
JEF	New	JEFFERIES FINL GROUP INC	$4,235,046	–	127,677	–	0.48%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$3,908,052	–	59,866	–	0.44%	–
RHI	New	ROBERT HALF INTL INC	$3,525,261	–	46,866	–	0.40%	–
SNOW	New	SNOWFLAKE INCcl a	$3,450,088	–	19,605	–	0.39%	–
SEE	New	SEALED AIR CORP NEW	$3,403,120	–	85,078	–	0.39%	–
MO	New	ALTRIA GROUP INC	$3,066,584	–	67,695	–	0.35%	–
TER	New	TERADYNE INC	$3,061,464	–	27,499	–	0.35%	–
	New	LINDE PLC	$3,048,640	–	8,000	–	0.35%	–
AMZN	New	AMAZON COM INC	$2,944,832	–	22,590	–	0.33%	–
BLK	New	BLACKROCK INC	$2,939,418	–	4,253	–	0.33%	–
MMM	New	3M CO	$2,911,018	–	29,084	–	0.33%	–
INTC	New	INTEL CORP	$2,812,705	–	84,112	–	0.32%	–
CYD	New	CHINA YUCHAI INTL LTD	$2,627,793	–	250,266	–	0.30%	–
BEN	New	FRANKLIN RESOURCES INC	$2,516,509	–	94,216	–	0.28%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$2,223,040	–	19,659	–	0.25%	–
JNJ	New	JOHNSON & JOHNSON	$2,124,284	–	12,834	–	0.24%	–
CBOE	New	CBOE GLOBAL MKTS INC	$2,042,272	–	14,798	–	0.23%	–
	New	WARNER BROS DISCOVERY INC	$1,896,462	–	151,233	–	0.22%	–
GILD	New	GILEAD SCIENCES INC	$1,790,413	–	23,231	–	0.20%	–
RY	New	ROYAL BK CDA	$1,728,731	–	18,100	–	0.20%	–
FTV	New	FORTIVE CORP	$1,671,782	–	22,359	–	0.19%	–
GNTX	New	GENTEX CORP	$1,638,560	–	56,000	–	0.19%	–
LOW	New	LOWES COS INC	$1,594,570	–	7,065	–	0.18%	–
PCH	New	POTLATCHDELTIC CORPORATION	$1,570,861	–	29,723	–	0.18%	–
LBTYK	New	LIBERTY GLOBAL PLC	$1,451,400	–	81,677	–	0.16%	–
HD	New	HOME DEPOT INC	$1,435,778	–	4,622	–	0.16%	–
BNS	New	BANK NOVA SCOTIA HALIFAX	$1,431,144	–	28,600	–	0.16%	–
LH	New	LABORATORY CORP AMER HLDGS	$1,333,590	–	5,526	–	0.15%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$1,321,072	–	7,370	–	0.15%	–
GLW	New	CORNING INC	$1,311,337	–	37,424	–	0.15%	–
NVS	New	NOVARTIS AGsponsored adr	$1,275,099	–	12,636	–	0.14%	–
MDT	New	MEDTRONIC PLC	$1,245,734	–	14,140	–	0.14%	–
FFIV	New	F5 INC	$1,219,223	–	8,336	–	0.14%	–
OGN	New	ORGANON & CO	$1,195,805	–	57,463	–	0.14%	–
PSLV	New	SPROTT PHYSICAL SILVER TRtr unit	$1,064,963	–	136,709	–	0.12%	–
AON	New	AON PLC	$1,054,241	–	3,054	–	0.12%	–
MRK	New	MERCK & CO INC	$1,008,739	–	8,742	–	0.11%	–
PM	New	PHILIP MORRIS INTL INC	$976,200	–	10,000	–	0.11%	–
FB	New	META PLATFORMS INCcl a	$956,791	–	3,334	–	0.11%	–
USB	New	US BANCORP DEL	$945,770	–	28,625	–	0.11%	–
PHYS	New	SPROTT PHYSICAL GOLD TRunit	$919,475	–	61,627	–	0.10%	–
SHW	New	SHERWIN WILLIAMS CO	$903,299	–	3,402	–	0.10%	–
NATI	New	NATIONAL INSTRS CORP	$845,100	–	14,723	–	0.10%	–
GOOG	New	ALPHABET INCcap stk cl c	$825,015	–	6,820	–	0.09%	–
WMT	New	WALMART INC	$814,821	–	5,184	–	0.09%	–
MSFT	New	MICROSOFT CORP	$766,215	–	2,250	–	0.09%	–
L	New	LOEWS CORP	$712,560	–	12,000	–	0.08%	–
DIS	New	DISNEY WALT CO	$666,386	–	7,464	–	0.08%	–
ETHO	New	ETF MANAGERS TRetho climate lea	$618,270	–	11,610	–	0.07%	–
	New	OAKTREE SPECIALTY LENDING CO	$590,789	–	30,406	–	0.07%	–
STZ	New	CONSTELLATION BRANDS INCcl a	$590,712	–	2,400	–	0.07%	–
XOM	New	EXXON MOBIL CORP	$560,703	–	5,228	–	0.06%	–
LW	New	LAMB WESTON HLDGS INC	$542,219	–	4,717	–	0.06%	–
CAG	New	CONAGRA BRANDS INC	$531,495	–	15,762	–	0.06%	–
MDLZ	New	MONDELEZ INTL INCcl a	$504,745	–	6,920	–	0.06%	–
UNM	New	UNUM GROUP	$477,000	–	10,000	–	0.05%	–
KPLT	New	KATAPULT HOLDINGS INC	$462,991	–	514,434	–	0.05%	–
GERN	New	GERON CORP	$457,104	–	142,400	–	0.05%	–
LBTYA	New	LIBERTY GLOBAL PLC	$430,942	–	25,560	–	0.05%	–
	New	GITLAB INC	$364,261	–	7,127	–	0.04%	–
JPM	New	JPMORGAN CHASE & CO	$356,619	–	2,452	–	0.04%	–
	New	VITESSE ENERGY INC	$336,493	–	15,022	–	0.04%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$322,616	–	2,411	–	0.04%	–
GF	New	NEW GERMANY FD INC	$293,134	–	32,643	–	0.03%	–
CRIS	New	CURIS INC	$292,992	–	353,003	–	0.03%	–
	New	ALLBIRDS INC	$285,459	–	226,555	–	0.03%	–
ISRG	New	INTUITIVE SURGICAL INC	$273,552	–	800	–	0.03%	–
NYCB	New	NEW YORK CMNTY BANCORP INC	$262,207	–	23,328	–	0.03%	–
BARK	New	BARK INC	$260,680	–	196,000	–	0.03%	–
CHD	New	CHURCH & DWIGHT CO INC	$240,552	–	2,400	–	0.03%	–
WSBF	New	WATERSTONE FINL INC MD	$217,350	–	15,000	–	0.02%	–
ATR	New	APTARGROUP INC	$224,884	–	1,941	–	0.02%	–
SEIC	New	SEI INVTS CO	$219,104	–	3,675	–	0.02%	–
TEL	New	TE CONNECTIVITY LTD	$210,240	–	1,500	–	0.02%	–
	New	BRAZE INC	$207,959	–	4,749	–	0.02%	–
ALC	New	ALCON AG	$207,410	–	2,526	–	0.02%	–
MET	New	METLIFE INC	$203,508	–	3,600	–	0.02%	–
	New	THE REALREAL INCnote 3.000% 6/1	$172,500	–	250,000	–	0.02%	–
CTO	New	CTO RLTY GROWTH INC NEW	$174,245	–	10,166	–	0.02%	–
WIW	New	WESTERN AST INFL LKD OPP & I	$132,900	–	15,000	–	0.02%	–
REAL	New	THE REALREAL INC	$116,550	–	52,500	–	0.01%	–
LILAK	New	LIBERTY LATIN AMERICA LTD	$118,447	–	13,741	–	0.01%	–
WIA	New	WESTERN ASST INFLTN LKD INM	$103,250	–	12,500	–	0.01%	–
SIRI	New	SIRIUS XM HOLDINGS INC	$90,600	–	20,000	–	0.01%	–
	New	WEWORK INCcl a	$8,939	–	35,000	–	0.00%	–

Q4 2022

			Value		Shares		↓ Weighting
	Exit	RICEBRAN TECHNOLOGIES	$0	–	-20,500	–	-0.01%	–
	Exit	CYXTERA TECHNOLOGIES INC	$0	–	-11,499	–	-0.01%	–
	Exit	WEWORK INCcl a	$0	–	-25,000	–	-0.01%	–
REAL	Exit	THE REALREAL INC	$0	–	-52,500	–	-0.01%	–
PTON	Exit	PELOTON INTERACTIVE INC	$0	–	-14,000	–	-0.01%	–
SIRI	Exit	SIRIUS XM HOLDINGS INC	$0	–	-20,000	–	-0.02%	–
MYN	Exit	BLACKROCK MUNIYIELD N Y QUAL	$0	–	-11,614	–	-0.02%	–
LILAK	Exit	LIBERTY LATIN AMERICA LTD	$0	–	-19,622	–	-0.02%	–
	Exit	CIPHER MINING INC	$0	–	-108,750	–	-0.02%	–
	Exit	THE REALREAL INCnote 3.000% 6/1	$0	–	-250,000	–	-0.02%	–
	Exit	ON HLDG AGnamen akt a	$0	–	-11,500	–	-0.02%	–
GSEVU	Exit	GORES HOLDINGS VII INCunit 02/12/2028	$0	–	-19,543	–	-0.03%	–
NYCB	Exit	NEW YORK CMNTY BANCORP INC	$0	–	-23,328	–	-0.03%	–
GF	Exit	NEW GERMANY FD INC	$0	–	-32,643	–	-0.03%	–
HRB	Exit	BLOCK H & R INC	$0	–	-5,600	–	-0.03%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-2,452	–	-0.03%	–
TSLA	Exit	TESLA INC	$0	–	-951	–	-0.03%	–
CRIS	Exit	CURIS INC	$0	–	-403,003	–	-0.04%	–
CTO	Exit	CTO RLTY GROWTH INC NEW	$0	–	-15,432	–	-0.04%	–
IP	Exit	INTERNATIONAL PAPER CO	$0	–	-10,000	–	-0.04%	–
PSPCU	Exit	POST HOLDINGS PARTNERING CORunit 99/99/9999	$0	–	-34,000	–	-0.04%	–
GERN	Exit	GERON CORP	$0	–	-142,400	–	-0.04%	–
AAQC	Exit	ACCELERATE ACQUISITION CORP	$0	–	-35,000	–	-0.05%	–
BARK	Exit	BARK INC	$0	–	-196,000	–	-0.05%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-6,920	–	-0.05%	–
UNM	Exit	UNUM GROUP	$0	–	-10,000	–	-0.05%	–
LBTYA	Exit	LIBERTY GLOBAL PLC	$0	–	-25,560	–	-0.05%	–
GVA	Exit	GRANITE CONSTR INC	$0	–	-17,604	–	-0.06%	–
ETHO	Exit	ETF MANAGERS TRetho climate lea	$0	–	-9,610	–	-0.06%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-5,228	–	-0.06%	–
MET	Exit	METLIFE INC	$0	–	-7,600	–	-0.06%	–
LW	Exit	LAMB WESTON HLDGS INC	$0	–	-6,050	–	-0.06%	–
KPLT	Exit	KATAPULT HOLDINGS INC	$0	–	-525,200	–	-0.07%	–
COLIU	Exit	COLICITY INCunit 02/24/2026	$0	–	-51,500	–	-0.07%	–
CAG	Exit	CONAGRA BRANDS INC	$0	–	-15,762	–	-0.07%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-2,350	–	-0.07%	–
STZ	Exit	CONSTELLATION BRANDS INCcl a	$0	–	-2,400	–	-0.07%	–
NATI	Exit	NATIONAL INSTRS CORP	$0	–	-14,723	–	-0.08%	–
C	Exit	CITIGROUP INC	$0	–	-13,500	–	-0.08%	–
SWK	Exit	STANLEY BLACK & DECKER INC	$0	–	-7,500	–	-0.08%	–
OCSL	Exit	OAKTREE SPECIALTY LENDING CO	$0	–	-97,145	–	-0.08%	–
L	Exit	LOEWS CORP	$0	–	-12,000	–	-0.08%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-6,820	–	-0.09%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-3,402	–	-0.09%	–
DIS	Exit	DISNEY WALT CO	$0	–	-7,464	–	-0.10%	–
	Exit	ALLBIRDS INC	$0	–	-252,555	–	-0.10%	–
WMT	Exit	WALMART INC	$0	–	-5,888	–	-0.10%	–
PHYS	Exit	SPROTT PHYSICAL GOLD TRunit	$0	–	-61,627	–	-0.11%	–
AON	Exit	AON PLC	$0	–	-3,054	–	-0.11%	–
PSLV	Exit	SPROTT PHYSICAL SILVER TRtr unit	$0	–	-136,709	–	-0.12%	–
ATR	Exit	APTARGROUP INC	$0	–	-10,035	–	-0.13%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-8,992	–	-0.13%	–
MRK	Exit	MERCK & CO INC	$0	–	-11,676	–	-0.14%	–
GLW	Exit	CORNING INC	$0	–	-37,424	–	-0.15%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-5,526	–	-0.15%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-14,140	–	-0.15%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-7,370	–	-0.16%	–
NVS	Exit	NOVARTIS AGsponsored adr	$0	–	-15,636	–	-0.16%	–
FFIV	Exit	F5 INC	$0	–	-8,336	–	-0.16%	–
USB	Exit	US BANCORP DEL	$0	–	-30,100	–	-0.16%	–
PCH	Exit	POTLATCHDELTIC CORPORATION	$0	–	-29,723	–	-0.16%	–
OGN	Exit	ORGANON & CO	$0	–	-52,550	–	-0.16%	–
HD	Exit	HOME DEPOT INC	$0	–	-4,622	–	-0.17%	–
FTV	Exit	FORTIVE CORP	$0	–	-22,359	–	-0.18%	–
LOW	Exit	LOWES COS INC	$0	–	-7,065	–	-0.18%	–
GNTX	Exit	GENTEX CORP	$0	–	-56,000	–	-0.18%	–
LBTYK	Exit	LIBERTY GLOBAL PLC	$0	–	-81,677	–	-0.18%	–
BNS	Exit	BANK NOVA SCOTIA HALIFAX	$0	–	-28,600	–	-0.18%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-23,211	–	-0.19%	–
RY	Exit	ROYAL BK CDA	$0	–	-18,100	–	-0.22%	–
CBOE	Exit	CBOE GLOBAL MKTS INC	$0	–	-14,798	–	-0.23%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-19,659	–	-0.24%	–
CYD	Exit	CHINA YUCHAI INTL LTD	$0	–	-245,767	–	-0.24%	–
BEN	Exit	FRANKLIN RESOURCES INC	$0	–	-94,216	–	-0.27%	–
TER	Exit	TERADYNE INC	$0	–	-27,499	–	-0.28%	–
LIN	Exit	LINDE PLC	$0	–	-8,000	–	-0.29%	–
KLIC	Exit	KULICKE & SOFFA INDS INC	$0	–	-60,000	–	-0.31%	–
BLK	Exit	BLACKROCK INC	$0	–	-4,253	–	-0.31%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-29,650	–	-0.33%	–
AMZN	Exit	AMAZON COM INC	$0	–	-22,960	–	-0.35%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-67,695	–	-0.37%	–
INTC	Exit	INTEL CORP	$0	–	-109,112	–	-0.38%	–
NTR	Exit	NUTRIEN LTD	$0	–	-37,320	–	-0.42%	–
HUM	Exit	HUMANA INC	$0	–	-6,447	–	-0.42%	–
MMM	Exit	3M CO	$0	–	-29,084	–	-0.43%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-59,866	–	-0.46%	–
SEE	Exit	SEALED AIR CORP NEW	$0	–	-78,609	–	-0.47%	–
RHI	Exit	ROBERT HALF INTL INC	$0	–	-46,866	–	-0.48%	–
JEF	Exit	JEFFERIES FINL GROUP INC	$0	–	-127,677	–	-0.51%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-24,672	–	-0.54%	–
PNR	Exit	PENTAIR PLC	$0	–	-105,727	–	-0.58%	–
TROW	Exit	PRICE T ROWE GROUP INC	$0	–	-41,366	–	-0.58%	–
VMW	Exit	VMWARE INC	$0	–	-42,132	–	-0.60%	–
AAPL	Exit	APPLE INC	$0	–	-35,155	–	-0.65%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-62,596	–	-0.67%	–
SLV	Exit	ISHARES SILVER TRishares	$0	–	-303,575	–	-0.71%	–
OLN	Exit	OLIN CORP	$0	–	-158,201	–	-0.91%	–
	Exit	WARNER BROS DISCOVERY INC	$0	–	-592,529	–	-0.92%	–
FB	Exit	META PLATFORMS INCcl a	$0	–	-53,034	–	-0.97%	–
HPQ	Exit	HP INC	$0	–	-295,805	–	-0.99%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-84,725	–	-1.04%	–
BAC	Exit	BK OF AMERICA CORP	$0	–	-268,280	–	-1.09%	–
LITE	Exit	LUMENTUM HLDGS INC	$0	–	-128,082	–	-1.18%	–
HBI	Exit	HANESBRANDS INC	$0	–	-1,307,397	–	-1.22%	–
AFL	Exit	AFLAC INC	$0	–	-165,091	–	-1.25%	–
SONY	Exit	SONY GROUP CORPORATIONsponsored adr	$0	–	-147,226	–	-1.27%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-35,758	–	-1.28%	–
MTB	Exit	M & T BK CORP	$0	–	-55,769	–	-1.32%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-19,993	–	-1.36%	–
WRK	Exit	WESTROCK CO	$0	–	-334,239	–	-1.39%	–
	Exit	KYNDRYL HLDGS INC	$0	–	-1,291,942	–	-1.44%	–
PFE	Exit	PFIZER INC	$0	–	-244,867	–	-1.44%	–
AVGO	Exit	BROADCOM INC	$0	–	-24,505	–	-1.46%	–
WHR	Exit	WHIRLPOOL CORP	$0	–	-82,577	–	-1.50%	–
ADT	Exit	ADT INC DEL	$0	–	-1,572,550	–	-1.58%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-145,339	–	-1.60%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-105,599	–	-1.68%	–
VTRS	Exit	VIATRIS INC	$0	–	-1,473,515	–	-1.69%	–
LEA	Exit	LEAR CORP	$0	–	-112,035	–	-1.80%	–
AXTA	Exit	AXALTA COATING SYS LTD	$0	–	-667,354	–	-1.89%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-578,826	–	-1.90%	–
	Exit	COHERENT CORP	$0	–	-434,399	–	-2.03%	–
DAR	Exit	DARLING INGREDIENTS INC	$0	–	-236,671	–	-2.10%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-238,950	–	-2.28%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-451,859	–	-2.30%	–
SLM	Exit	SLM CORP	$0	–	-1,263,146	–	-2.37%	–
XPO	Exit	XPO LOGISTICS INC	$0	–	-413,706	–	-2.47%	–
GBDC	Exit	GOLUB CAP BDC INC	$0	–	-1,509,311	–	-2.51%	–
CSCO	Exit	CISCO SYS INC	$0	–	-478,988	–	-2.57%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-269,930	–	-3.47%	–
T	Exit	AT&T INC	$0	–	-1,729,897	–	-3.56%	–
IAU	Exit	ISHARES GOLD TRishares new	$0	–	-1,807,254	–	-7.65%	–
GLD	Exit	SPDR GOLD TR	$0	–	-743,387	–	-15.44%	–

Q3 2022

			Value		Shares		↓ Weighting
GLD	Sell	SPDR GOLD TR	$114,980,000	-8.5%	743,387	-0.3%	15.44%	+3.0%
T	Buy	AT&T INC	$26,537,000	-26.6%	1,729,897	+0.3%	3.56%	-17.4%
GOOGL	Buy	ALPHABET INCcap stk cl a	$25,819,000	-10.8%	269,930	+1932.3%	3.47%	+0.4%
XPO	Buy	XPO LOGISTICS INC	$18,418,000	-1.3%	413,706	+6.7%	2.47%	+11.0%
SLM	Buy	SLM CORP	$17,671,000	-10.8%	1,263,146	+1.6%	2.37%	+0.4%
VZ	Buy	VERIZON COMMUNICATIONS INC	$17,157,000	-23.5%	451,859	+2.3%	2.30%	-13.9%
DAR	Buy	DARLING INGREDIENTS INC	$15,656,000	+20.7%	236,671	+9.1%	2.10%	+35.9%
	New	COHERENT CORP	$15,139,000	–	434,399	–	2.03%	–
DXC	Buy	DXC TECHNOLOGY CO	$14,170,000	-18.1%	578,826	+1.4%	1.90%	-7.8%
VTRS	Buy	VIATRIS INC	$12,554,000	-18.6%	1,473,515	+0.0%	1.69%	-8.4%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$12,546,000	-44.3%	105,599	-33.8%	1.68%	-37.3%
RTX	Sell	RAYTHEON TECHNOLOGIES CORP	$11,897,000	-22.0%	145,339	-8.4%	1.60%	-12.1%
	Buy	KYNDRYL HLDGS INC	$10,684,000	-1.4%	1,291,942	+16.6%	1.44%	+11.0%
UNH	Sell	UNITEDHEALTH GROUP INC	$10,097,000	-12.1%	19,993	-10.6%	1.36%	-1.1%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$9,548,000	-2.2%	35,758	+0.0%	1.28%	+10.1%
LITE	Sell	LUMENTUM HLDGS INC	$8,783,000	-38.4%	128,082	-28.6%	1.18%	-30.6%
FB	Buy	META PLATFORMS INCcl a	$7,196,000	+70.9%	53,034	+103.1%	0.97%	+92.4%
	Buy	WARNER BROS DISCOVERY INC	$6,814,000	-4.5%	592,529	+11.4%	0.92%	+7.4%
OLN	Buy	OLIN CORP	$6,784,000	+9.3%	158,201	+18.0%	0.91%	+23.1%
BABA	Buy	ALIBABA GROUP HLDG LTDsponsored ads	$5,007,000	-29.1%	62,596	+0.8%	0.67%	-20.2%
PNR	New	PENTAIR PLC	$4,296,000	–	105,727	–	0.58%	–
RHI	Buy	ROBERT HALF INTL INC	$3,585,000	+40.8%	46,866	+37.8%	0.48%	+58.2%
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$3,439,000	–	59,866	–	0.46%	–
MMM	Buy	3M CO	$3,214,000	+171.9%	29,084	+218.4%	0.43%	+206.4%
NTR	Sell	NUTRIEN LTD	$3,112,000	-22.3%	37,320	-25.7%	0.42%	-12.6%
INTC	Buy	INTEL CORP	$2,812,000	-24.2%	109,112	+10.1%	0.38%	-14.5%
AMZN	Sell	AMAZON COM INC	$2,594,000	-23.8%	22,960	-28.3%	0.35%	-14.3%
GILD	Buy	GILEAD SCIENCES INC	$1,432,000	-0.1%	23,211	+0.1%	0.19%	+12.3%
OGN	Buy	ORGANON & CO	$1,230,000	-30.6%	52,550	+0.1%	0.16%	-22.2%
PHYS	Sell	SPROTT PHYSICAL GOLD TRunit	$789,000	-42.9%	61,627	-36.7%	0.11%	-35.8%
GOOG	Buy	ALPHABET INCcap stk cl c	$656,000	-12.1%	6,820	+1900.0%	0.09%	-1.1%
SWK	New	STANLEY BLACK & DECKER INC	$564,000	–	7,500	–	0.08%	–
MSFT	Sell	MICROSOFT CORP	$547,000	-14.8%	2,350	-6.0%	0.07%	-5.2%
IP	New	INTERNATIONAL PAPER CO	$317,000	–	10,000	–	0.04%	–
CTO	Buy	CTO RLTY GROWTH INC NEW	$289,000	-8.3%	15,432	+200.0%	0.04%	+2.6%
JPM	Buy	JPMORGAN CHASE & CO	$256,000	-6.6%	2,452	+0.8%	0.03%	+3.0%
TSLA	Buy	TESLA INC	$252,000	+18.3%	951	+200.0%	0.03%	+36.0%
HRB	New	BLOCK H & R INC	$238,000	–	5,600	–	0.03%	–
GF	Buy	NEW GERMANY FD INC	$227,000	-10.6%	32,643	+8.3%	0.03%	0.0%
MYN	New	BLACKROCK MUNIYIELD N Y QUAL	$110,000	–	11,614	–	0.02%	–
	New	RICEBRAN TECHNOLOGIES	$37,000	–	20,500	–	0.01%	–
BB	Exit	BLACKBERRY LTD	$0	–	-20,360	–	-0.01%	–
RIBT	Exit	RICEBRAN TECHNOLOGIES	$0	–	-205,000	–	-0.02%	–
WALDU	Exit	WALDENCAST ACQUISITION CORPunit 03/11/2026	$0	–	-16,500	–	-0.02%	–
	Exit	HASHICORP INC	$0	–	-6,861	–	-0.02%	–
AGR	Exit	AVANGRID INC	$0	–	-4,724	–	-0.03%	–
CHD	Exit	CHURCH & DWIGHT CO INC	$0	–	-2,400	–	-0.03%	–
WMB	Exit	WILLIAMS COS INC	$0	–	-6,905	–	-0.03%	–
CHTR	Exit	CHARTER COMMUNICATIONS INC Ncl a	$0	–	-654	–	-0.04%	–
TDOC	Exit	TELADOC HEALTH INC	$0	–	-10,000	–	-0.04%	–
COIN	Exit	COINBASE GLOBAL INC	$0	–	-7,500	–	-0.04%	–
SQ	Exit	BLOCK INCcl a	$0	–	-7,151	–	-0.05%	–
ZM	Exit	ZOOM VIDEO COMMUNICATIONS INcl a	$0	–	-4,500	–	-0.06%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-10,700	–	-0.09%	–
HFRO	Exit	HIGHLAND INCOME FD	$0	–	-95,600	–	-0.13%	–
PSTH	Exit	PERSHING SQUARE TONTINE HLDG	$0	–	-191,451	–	-0.46%	–
SNOW	Exit	SNOWFLAKE INCcl a	$0	–	-36,773	–	-0.61%	–
IIVI	Exit	II-VI INC	$0	–	-294,234	–	-1.79%	–

Q2 2022

			Value		Shares		↓ Weighting
GLD	New	SPDR GOLD TR	$125,607,000	–	745,617	–	14.99%	–
IAU	New	ISHARES GOLD TRishares new	$62,007,000	–	1,807,254	–	7.40%	–
T	New	AT&T INC	$36,154,000	–	1,724,897	–	4.31%	–
GOOGL	New	ALPHABET INCcap stk cl a	$28,945,000	–	13,282	–	3.45%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$22,520,000	–	159,499	–	2.69%	–
VZ	New	VERIZON COMMUNICATIONS INC	$22,424,000	–	441,859	–	2.68%	–
CSCO	New	CISCO SYS INC	$20,424,000	–	478,988	–	2.44%	–
SLM	New	SLM CORP	$19,816,000	–	1,243,146	–	2.36%	–
GBDC	New	GOLUB CAP BDC INC	$19,561,000	–	1,509,311	–	2.33%	–
XPO	New	XPO LOGISTICS INC	$18,670,000	–	387,660	–	2.23%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$18,399,000	–	238,950	–	2.20%	–
DXC	New	DXC TECHNOLOGY CO	$17,305,000	–	570,919	–	2.06%	–
VTRS	New	VIATRIS INC	$15,426,000	–	1,473,315	–	1.84%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$15,250,000	–	158,675	–	1.82%	–
IIVI	New	II-VI INC	$14,991,000	–	294,234	–	1.79%	–
AXTA	New	AXALTA COATING SYS LTD	$14,755,000	–	667,354	–	1.76%	–
LITE	New	LUMENTUM HLDGS INC	$14,250,000	–	179,431	–	1.70%	–
LEA	New	LEAR CORP	$14,104,000	–	112,035	–	1.68%	–
HBI	New	HANESBRANDS INC	$13,453,000	–	1,307,397	–	1.60%	–
WRK	New	WESTROCK CO	$13,316,000	–	334,239	–	1.59%	–
DAR	New	DARLING INGREDIENTS INC	$12,969,000	–	216,876	–	1.55%	–
PFE	New	PFIZER INC	$12,838,000	–	244,867	–	1.53%	–
WHR	New	WHIRLPOOL CORP	$12,789,000	–	82,577	–	1.53%	–
SONY	New	SONY GROUP CORPORATIONsponsored adr	$12,039,000	–	147,226	–	1.44%	–
AVGO	New	BROADCOM INC	$11,905,000	–	24,505	–	1.42%	–
UNH	New	UNITEDHEALTH GROUP INC	$11,489,000	–	22,368	–	1.37%	–
	New	KYNDRYL HLDGS INC	$10,839,000	–	1,108,254	–	1.29%	–
MHK	New	MOHAWK INDS INC	$10,514,000	–	84,725	–	1.25%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$9,759,000	–	35,743	–	1.16%	–
HPQ	New	HP INC	$9,696,000	–	295,805	–	1.16%	–
ADT	New	ADT INC DEL	$9,671,000	–	1,572,550	–	1.15%	–
AFL	New	AFLAC INC	$9,134,000	–	165,091	–	1.09%	–
MTB	New	M & T BK CORP	$8,889,000	–	55,769	–	1.06%	–
BAC	New	BK OF AMERICA CORP	$8,352,000	–	268,280	–	1.00%	–
	New	WARNER BROS DISCOVERY INC	$7,137,000	–	531,848	–	0.85%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$7,059,000	–	62,096	–	0.84%	–
OLN	New	OLIN CORP	$6,204,000	–	134,049	–	0.74%	–
SLV	New	ISHARES SILVER TRishares	$5,659,000	–	303,575	–	0.68%	–
SNOW	New	SNOWFLAKE INCcl a	$5,114,000	–	36,773	–	0.61%	–
VMW	New	VMWARE INC	$4,802,000	–	42,132	–	0.57%	–
AAPL	New	APPLE INC	$4,806,000	–	35,155	–	0.57%	–
TROW	New	PRICE T ROWE GROUP INC	$4,700,000	–	41,366	–	0.56%	–
SEE	New	SEALED AIR CORP NEW	$4,537,000	–	78,609	–	0.54%	–
JNJ	New	JOHNSON & JOHNSON	$4,380,000	–	24,672	–	0.52%	–
FB	New	META PLATFORMS INCcl a	$4,211,000	–	26,117	–	0.50%	–
NTR	New	NUTRIEN LTD	$4,005,000	–	50,251	–	0.48%	–
PSTH	New	PERSHING SQUARE TONTINE HLDG	$3,823,000	–	191,451	–	0.46%	–
INTC	New	INTEL CORP	$3,708,000	–	99,112	–	0.44%	–
JEF	New	JEFFERIES FINL GROUP INC	$3,526,000	–	127,677	–	0.42%	–
AMZN	New	AMAZON COM INC	$3,403,000	–	32,040	–	0.41%	–
HUM	New	HUMANA INC	$3,018,000	–	6,447	–	0.36%	–
PM	New	PHILIP MORRIS INTL INC	$2,928,000	–	29,650	–	0.35%	–
MO	New	ALTRIA GROUP INC	$2,828,000	–	67,695	–	0.34%	–
BLK	New	BLACKROCK INC	$2,590,000	–	4,253	–	0.31%	–
KLIC	New	KULICKE & SOFFA INDS INC	$2,569,000	–	60,000	–	0.31%	–
RHI	New	ROBERT HALF INTL INC	$2,547,000	–	34,013	–	0.30%	–
TER	New	TERADYNE INC	$2,463,000	–	27,499	–	0.29%	–
LIN	New	LINDE PLC	$2,300,000	–	8,000	–	0.27%	–
BEN	New	FRANKLIN RESOURCES INC	$2,196,000	–	94,216	–	0.26%	–
CYD	New	CHINA YUCHAI INTL LTD	$2,168,000	–	245,767	–	0.26%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$1,849,000	–	19,659	–	0.22%	–
LBTYK	New	LIBERTY GLOBAL PLC	$1,804,000	–	81,677	–	0.22%	–
OGN	New	ORGANON & CO	$1,773,000	–	52,523	–	0.21%	–
RY	New	ROYAL BK CDA	$1,752,000	–	18,100	–	0.21%	–
BNS	New	BANK NOVA SCOTIA B C	$1,693,000	–	28,600	–	0.20%	–
CBOE	New	CBOE GLOBAL MKTS INC	$1,675,000	–	14,798	–	0.20%	–
GNTX	New	GENTEX CORP	$1,566,000	–	56,000	–	0.19%	–
GILD	New	GILEAD SCIENCES INC	$1,434,000	–	23,196	–	0.17%	–
USB	New	US BANCORP DEL	$1,385,000	–	30,100	–	0.16%	–
PHYS	New	SPROTT PHYSICAL GOLD TRunit	$1,381,000	–	97,425	–	0.16%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$1,345,000	–	7,370	–	0.16%	–
NVS	New	NOVARTIS AGsponsored adr	$1,322,000	–	15,636	–	0.16%	–
PCH	New	POTLATCHDELTIC CORPORATION	$1,313,000	–	29,723	–	0.16%	–
LH	New	LABORATORY CORP AMER HLDGS	$1,295,000	–	5,526	–	0.16%	–
FFIV	New	F5 INC	$1,276,000	–	8,336	–	0.15%	–
HD	New	HOME DEPOT INC	$1,268,000	–	4,622	–	0.15%	–
MDT	New	MEDTRONIC PLC	$1,269,000	–	14,140	–	0.15%	–
LOW	New	LOWES COS INC	$1,234,000	–	7,065	–	0.15%	–
FTV	New	FORTIVE CORP	$1,216,000	–	22,359	–	0.14%	–
GLW	New	CORNING INC	$1,179,000	–	37,424	–	0.14%	–
MMM	New	3M CO	$1,182,000	–	9,135	–	0.14%	–
HFRO	New	HIGHLAND INCOME FD	$1,076,000	–	95,600	–	0.13%	–
MRK	New	MERCK & CO INC	$1,065,000	–	11,676	–	0.13%	–
ATR	New	APTARGROUP INC	$1,036,000	–	10,035	–	0.12%	–
TEL	New	TE CONNECTIVITY LTD	$1,017,000	–	8,992	–	0.12%	–
	New	ALLBIRDS INC	$993,000	–	252,555	–	0.12%	–
PSLV	New	SPROTT PHYSICAL SILVER TRtr unit	$943,000	–	136,709	–	0.11%	–
AON	New	AON PLC	$824,000	–	3,054	–	0.10%	–
SHW	New	SHERWIN WILLIAMS CO	$762,000	–	3,402	–	0.09%	–
PYPL	New	PAYPAL HLDGS INC	$747,000	–	10,700	–	0.09%	–
GOOG	New	ALPHABET INCcap stk cl c	$746,000	–	341	–	0.09%	–
L	New	LOEWS CORP	$711,000	–	12,000	–	0.08%	–
WMT	New	WALMART INC	$716,000	–	5,888	–	0.08%	–
DIS	New	DISNEY WALT CO	$705,000	–	7,464	–	0.08%	–
MSFT	New	MICROSOFT CORP	$642,000	–	2,500	–	0.08%	–
OCSL	New	OAKTREE SPECIALTY LENDING CO	$636,000	–	97,145	–	0.08%	–
C	New	CITIGROUP INC	$621,000	–	13,500	–	0.07%	–
KPLT	New	KATAPULT HOLDINGS INC	$562,000	–	525,200	–	0.07%	–
STZ	New	CONSTELLATION BRANDS INCcl a	$559,000	–	2,400	–	0.07%	–
CAG	New	CONAGRA BRANDS INC	$540,000	–	15,762	–	0.06%	–
LBTYA	New	LIBERTY GLOBAL PLC	$538,000	–	25,560	–	0.06%	–
GVA	New	GRANITE CONSTR INC	$513,000	–	17,604	–	0.06%	–
COLIU	New	COLICITY INCunit 02/24/2026	$507,000	–	51,500	–	0.06%	–
ZM	New	ZOOM VIDEO COMMUNICATIONS INcl a	$486,000	–	4,500	–	0.06%	–
MET	New	METLIFE INC	$477,000	–	7,600	–	0.06%	–
ETHO	New	ETF MANAGERS TRetho climate lea	$457,000	–	9,610	–	0.06%	–
NATI	New	NATIONAL INSTRS CORP	$460,000	–	14,723	–	0.06%	–
XOM	New	EXXON MOBIL CORP	$448,000	–	5,228	–	0.05%	–
SQ	New	BLOCK INCcl a	$440,000	–	7,151	–	0.05%	–
LW	New	LAMB WESTON HLDGS INC	$432,000	–	6,050	–	0.05%	–
MDLZ	New	MONDELEZ INTL INCcl a	$430,000	–	6,920	–	0.05%	–
CRIS	New	CURIS INC	$397,000	–	403,003	–	0.05%	–
COIN	New	COINBASE GLOBAL INC	$353,000	–	7,500	–	0.04%	–
UNM	New	UNUM GROUP	$340,000	–	10,000	–	0.04%	–
AAQC	New	ACCELERATE ACQUISITION CORP	$342,000	–	35,000	–	0.04%	–
PSPCU	New	POST HOLDINGS PARTNERING CORunit 99/99/9999	$332,000	–	34,000	–	0.04%	–
TDOC	New	TELADOC HEALTH INC	$332,000	–	10,000	–	0.04%	–
CTO	New	CTO RLTY GROWTH INC NEW	$315,000	–	5,144	–	0.04%	–
CHTR	New	CHARTER COMMUNICATIONS INC Ncl a	$306,000	–	654	–	0.04%	–
JPM	New	JPMORGAN CHASE & CO	$274,000	–	2,432	–	0.03%	–
BARK	New	BARK INC	$251,000	–	196,000	–	0.03%	–
GF	New	NEW GERMANY FD INC	$254,000	–	30,152	–	0.03%	–
AGR	New	AVANGRID INC	$218,000	–	4,724	–	0.03%	–
CHD	New	CHURCH & DWIGHT CO INC	$222,000	–	2,400	–	0.03%	–
GERN	New	GERON CORP	$221,000	–	142,400	–	0.03%	–
WMB	New	WILLIAMS COS INC	$216,000	–	6,905	–	0.03%	–
NYCB	New	NEW YORK CMNTY BANCORP INC	$213,000	–	23,328	–	0.02%	–
TSLA	New	TESLA INC	$213,000	–	317	–	0.02%	–
	New	ON HLDG AGnamen akt a	$203,000	–	11,500	–	0.02%	–
	New	HASHICORP INC	$202,000	–	6,861	–	0.02%	–
GSEVU	New	GORES HOLDINGS VII INCunit 02/12/2028	$192,000	–	19,543	–	0.02%	–
WALDU	New	WALDENCAST ACQUISITION CORPunit 03/11/2026	$168,000	–	16,500	–	0.02%	–
LILAK	New	LIBERTY LATIN AMERICA LTD	$153,000	–	19,622	–	0.02%	–
	New	CIPHER MINING INC	$149,000	–	108,750	–	0.02%	–
	New	THE REALREAL INCnote 3.000% 6/1	$150,000	–	250,000	–	0.02%	–
REAL	New	THE REALREAL INC	$131,000	–	52,500	–	0.02%	–
	New	CYXTERA TECHNOLOGIES INC	$130,000	–	11,499	–	0.02%	–
RIBT	New	RICEBRAN TECHNOLOGIES	$137,000	–	205,000	–	0.02%	–
SIRI	New	SIRIUS XM HOLDINGS INC	$123,000	–	20,000	–	0.02%	–
	New	WEWORK INCcl a	$126,000	–	25,000	–	0.02%	–
PTON	New	PELOTON INTERACTIVE INC	$129,000	–	14,000	–	0.02%	–
BB	New	BLACKBERRY LTD	$110,000	–	20,360	–	0.01%	–

Q4 2021

			Value		Shares		↓ Weighting
TXMD	Exit	THERAPEUTICSMD INC	$0	–	-25,000	–	-0.00%	–
CSPR	Exit	CASPER SLEEP INC	$0	–	-22,700	–	-0.01%	–
RIBT	Exit	RICEBRAN TECHNOLOGIES	$0	–	-195,000	–	-0.01%	–
SIRI	Exit	SIRIUS XM HOLDINGS INC	$0	–	-20,000	–	-0.01%	–
ASTR	Exit	ASTRA SPACE INC	$0	–	-17,500	–	-0.02%	–
	Exit	CIPHER MINING INC	$0	–	-15,000	–	-0.02%	–
WALDU	Exit	WALDENCAST ACQUISITION CORPunit 03/11/2026	$0	–	-16,500	–	-0.02%	–
BOWX	Exit	BOWX ACQUISITION CORPcl a	$0	–	-16,500	–	-0.02%	–
GSEVU	Exit	GORES HOLDINGS VII INCunit 02/12/2028	$0	–	-19,543	–	-0.02%	–
ALC	Exit	ALCON AG	$0	–	-2,526	–	-0.02%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-4,000	–	-0.02%	–
GERN	Exit	GERON CORP	$0	–	-154,700	–	-0.02%	–
AGR	Exit	AVANGRID INC	$0	–	-4,724	–	-0.03%	–
FTI	Exit	TECHNIPFMC PLC	$0	–	-31,900	–	-0.03%	–
LILAK	Exit	LIBERTY LATIN AMERICA LTD	$0	–	-20,629	–	-0.03%	–
CTO	Exit	CTO RLTY GROWTH INC NEW	$0	–	-5,144	–	-0.03%	–
REAL	Exit	THE REALREAL INC	$0	–	-22,500	–	-0.03%	–
Y	Exit	ALLEGHANY CORP MD	$0	–	-500	–	-0.04%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-5,228	–	-0.04%	–
AAQC	Exit	ACCELERATE ACQUISITION CORP	$0	–	-35,000	–	-0.04%	–
PSPCU	Exit	POST HOLDINGS PARTNERING CORunit 99/99/9999	$0	–	-34,000	–	-0.04%	–
LW	Exit	LAMB WESTON HLDGS INC	$0	–	-6,050	–	-0.04%	–
PHYS	Exit	SPROTT PHYSICAL GOLD TRunit	$0	–	-28,291	–	-0.04%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-6,920	–	-0.05%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-2,412	–	-0.05%	–
NAT	Exit	NORDIC AMERICAN TANKERS LIMI	$0	–	-166,000	–	-0.05%	–
GF	Exit	NEW GERMANY FD INC	$0	–	-21,933	–	-0.05%	–
MUR	Exit	MURPHY OIL CORP	$0	–	-17,726	–	-0.05%	–
COIN	Exit	COINBASE GLOBAL INC	$0	–	-2,000	–	-0.05%	–
TSLA	Exit	TESLA INC	$0	–	-617	–	-0.06%	–
PRLB	Exit	PROTO LABS INC	$0	–	-7,114	–	-0.06%	–
CHTR	Exit	CHARTER COMMUNICATIONS INC Ncl a	$0	–	-654	–	-0.06%	–
STZ	Exit	CONSTELLATION BRANDS INCcl a	$0	–	-2,400	–	-0.06%	–
COLIU	Exit	COLICITY INCunit 02/24/2026	$0	–	-51,500	–	-0.06%	–
GPK	Exit	GRAPHIC PACKAGING HLDG CO	$0	–	-27,436	–	-0.06%	–
CAG	Exit	CONAGRA BRANDS INC	$0	–	-15,762	–	-0.06%	–
ETHO	Exit	ETF MANAGERS TRetho climate lea	$0	–	-9,610	–	-0.07%	–
NATI	Exit	NATIONAL INSTRS CORP	$0	–	-14,723	–	-0.07%	–
SQ	Exit	SQUARE INCcl a	$0	–	-2,651	–	-0.07%	–
	Exit	CYXTERA TECHNOLOGIES INC	$0	–	-70,000	–	-0.08%	–
L	Exit	LOEWS CORP	$0	–	-12,000	–	-0.08%	–
MET	Exit	METLIFE INC	$0	–	-10,800	–	-0.08%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-1,947	–	-0.08%	–
OCSL	Exit	OAKTREE SPECIALTY LENDING CO	$0	–	-97,145	–	-0.08%	–
GVA	Exit	GRANITE CONSTR INC	$0	–	-17,604	–	-0.08%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-2,500	–	-0.08%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-6,300	–	-0.08%	–
LBTYA	Exit	LIBERTY GLOBAL PLC	$0	–	-25,560	–	-0.09%	–
DISCA	Exit	DISCOVERY INC	$0	–	-30,839	–	-0.09%	–
HFRO	Exit	HIGHLAND INCOME FD	$0	–	-72,500	–	-0.09%	–
BARK	Exit	THE ORIGINAL BARK COMPANY	$0	–	-115,200	–	-0.09%	–
DORM	Exit	DORMAN PRODS INC	$0	–	-8,376	–	-0.09%	–
WMT	Exit	WALMART INC	$0	–	-5,971	–	-0.10%	–
AON	Exit	AON PLC	$0	–	-3,054	–	-0.10%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-341	–	-0.10%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-3,402	–	-0.11%	–
APLE	Exit	APPLE HOSPITALITY REIT INC	$0	–	-62,460	–	-0.11%	–
PSLV	Exit	SPROTT PHYSICAL SILVER TRtr unit	$0	–	-136,709	–	-0.12%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-3,334	–	-0.13%	–
PINC	Exit	PREMIER INCcl a	$0	–	-29,600	–	-0.13%	–
ATR	Exit	APTARGROUP INC	$0	–	-10,035	–	-0.14%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-16,200	–	-0.14%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-8,992	–	-0.14%	–
SEIC	Exit	SEI INVTS CO	$0	–	-21,045	–	-0.14%	–
DIS	Exit	DISNEY WALT CO	$0	–	-7,464	–	-0.15%	–
INTC	Exit	INTEL CORP	$0	–	-23,715	–	-0.15%	–
NVS	Exit	NOVARTIS AGsponsored adr	$0	–	-15,636	–	-0.15%	–
IVAC	Exit	INTEVAC INC	$0	–	-293,646	–	-0.16%	–
UNM	Exit	UNUM GROUP	$0	–	-60,000	–	-0.17%	–
PCH	Exit	POTLATCHDELTIC CORPORATION	$0	–	-29,723	–	-0.18%	–
MNST	Exit	MONSTER BEVERAGE CORP NEW	$0	–	-19,650	–	-0.20%	–
BNS	Exit	BANK NOVA SCOTIA B C	$0	–	-28,600	–	-0.20%	–
USB	Exit	US BANCORP DEL	$0	–	-30,100	–	-0.21%	–
RY	Exit	ROYAL BK CDA	$0	–	-18,100	–	-0.21%	–
GNTX	Exit	GENTEX CORP	$0	–	-56,000	–	-0.21%	–
CGNX	Exit	COGNEX CORP	$0	–	-23,000	–	-0.21%	–
SPSC	Exit	SPS COMM INC	$0	–	-11,866	–	-0.22%	–
KPLT	Exit	KATAPULT HOLDINGS INC	$0	–	-412,200	–	-0.26%	–
LIN	Exit	LINDE PLC	$0	–	-8,000	–	-0.27%	–
LBTYK	Exit	LIBERTY GLOBAL PLC	$0	–	-82,918	–	-0.28%	–
CBOE	Exit	CBOE GLOBAL MKTS INC	$0	–	-21,935	–	-0.31%	–
OGN	Exit	ORGANON & CO	$0	–	-83,722	–	-0.32%	–
BEN	Exit	FRANKLIN RESOURCES INC	$0	–	-94,216	–	-0.32%	–
PSTH	Exit	PERSHING SQUARE TONTINE HLDG	$0	–	-142,251	–	-0.32%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-29,850	–	-0.33%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-67,695	–	-0.36%	–
CRIS	Exit	CURIS INC	$0	–	-403,003	–	-0.36%	–
AMZN	Exit	AMAZON COM INC	$0	–	-1,088	–	-0.41%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-24,967	–	-0.46%	–
CYD	Exit	CHINA YUCHAI INTL LTD	$0	–	-300,000	–	-0.47%	–
KLIC	Exit	KULICKE & SOFFA INDS INC	$0	–	-80,000	–	-0.54%	–
JEF	Exit	JEFFERIES FINL GROUP INC	$0	–	-127,677	–	-0.55%	–
AAPL	Exit	APPLE INC	$0	–	-36,520	–	-0.60%	–
SNOW	Exit	SNOWFLAKE INCcl a	$0	–	-20,424	–	-0.71%	–
SLV	Exit	ISHARES SILVER TRishares	$0	–	-303,575	–	-0.72%	–
WHR	Exit	WHIRLPOOL CORP	$0	–	-39,890	–	-0.94%	–
PGR	Exit	PROGRESSIVE CORP	$0	–	-90,565	–	-0.94%	–
MTB	Exit	M & T BK CORP	$0	–	-56,041	–	-0.97%	–
DISCK	Exit	DISCOVERY INC	$0	–	-351,428	–	-0.98%	–
VTRS	Exit	VIATRIS INC	$0	–	-632,030	–	-0.99%	–
DAR	Exit	DARLING INGREDIENTS INC	$0	–	-129,770	–	-1.08%	–
ADT	Exit	ADT INC DEL	$0	–	-1,197,778	–	-1.12%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-35,617	–	-1.12%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-26,532	–	-1.20%	–
SEE	Exit	SEALED AIR CORP NEW	$0	–	-193,509	–	-1.22%	–
BAC	Exit	BK OF AMERICA CORP	$0	–	-268,732	–	-1.32%	–
PFE	Exit	PFIZER INC	$0	–	-280,185	–	-1.39%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-224,091	–	-1.40%	–
MRK	Exit	MERCK & CO INC	$0	–	-162,776	–	-1.41%	–
LEA	Exit	LEAR CORP	$0	–	-82,613	–	-1.49%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-74,073	–	-1.52%	–
AXTA	Exit	AXALTA COATING SYS LTD	$0	–	-464,036	–	-1.56%	–
AVGO	Exit	BROADCOM INC	$0	–	-28,642	–	-1.60%	–
HPQ	Exit	HP INC	$0	–	-525,081	–	-1.66%	–
ABBV	Exit	ABBVIE INC	$0	–	-135,065	–	-1.68%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-175,329	–	-1.74%	–
IIVI	Exit	II-VI INC	$0	–	-255,386	–	-1.75%	–
SLM	Exit	SLM CORP	$0	–	-875,806	–	-1.78%	–
SONY	Exit	SONY GROUP CORPORATIONsponsored adr	$0	–	-142,518	–	-1.82%	–
AFL	Exit	AFLAC INC	$0	–	-303,538	–	-1.83%	–
NTR	Exit	NUTRIEN LTD	$0	–	-246,709	–	-1.84%	–
XPO	Exit	XPO LOGISTICS INC	$0	–	-201,322	–	-1.85%	–
WRK	Exit	WESTROCK CO	$0	–	-324,970	–	-1.87%	–
CSCO	Exit	CISCO SYS INC	$0	–	-301,070	–	-1.89%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-532,628	–	-2.06%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-310,225	–	-2.12%	–
HBI	Exit	HANESBRANDS INC	$0	–	-1,194,399	–	-2.36%	–
GBDC	Exit	GOLUB CAP BDC INC	$0	–	-1,353,358	–	-2.47%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-8,028	–	-2.48%	–
LITE	Exit	LUMENTUM HLDGS INC	$0	–	-270,684	–	-2.61%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-165,127	–	-2.65%	–
IHC	Exit	INDEPENDENCE HLDG CO NEW	$0	–	-500,836	–	-2.86%	–
T	Exit	AT&T INC	$0	–	-999,480	–	-3.12%	–
IAU	Exit	ISHARES GOLD TRishares new	$0	–	-1,807,254	–	-6.97%	–
GLD	Exit	SPDR GOLD TR	$0	–	-754,511	–	-14.30%	–

Q3 2021

			Value		Shares		↓ Weighting
GLD	Sell	SPDR GOLD TR	$123,906,000	-2.4%	754,511	-1.6%	14.30%	-0.6%
T	Buy	AT&T INC	$26,996,000	+8.0%	999,480	+15.1%	3.12%	+10.0%
IHC	Sell	INDEPENDENCE HLDG CO NEW	$24,836,000	+5.5%	500,836	-1.5%	2.86%	+7.4%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$22,941,000	-6.1%	165,127	-0.9%	2.65%	-4.4%
LITE	Sell	LUMENTUM HLDGS INC	$22,613,000	+0.8%	270,684	-1.0%	2.61%	+2.7%
GOOGL	Sell	ALPHABET INCcap stk cl a	$21,463,000	-0.1%	8,028	-8.7%	2.48%	+1.7%
GBDC	Buy	GOLUB CAP BDC INC	$21,397,000	+2.7%	1,353,358	+0.2%	2.47%	+4.6%
HBI	Buy	HANESBRANDS INC	$20,496,000	-2.8%	1,194,399	+5.7%	2.36%	-1.0%
BMY	Buy	BRISTOL-MYERS SQUIBB CO	$18,356,000	-10.1%	310,225	+1.5%	2.12%	-8.5%
DXC	Sell	DXC TECHNOLOGY CO	$17,902,000	-20.7%	532,628	-8.1%	2.06%	-19.3%
CSCO	Sell	CISCO SYS INC	$16,387,000	+1.8%	301,070	-0.9%	1.89%	+3.6%
WRK	Buy	WESTROCK CO	$16,193,000	+1.5%	324,970	+8.5%	1.87%	+3.4%
XPO	Buy	XPO LOGISTICS INC	$16,021,000	+0.6%	201,322	+76.8%	1.85%	+2.4%
NTR	Sell	NUTRIEN LTD	$15,994,000	+5.3%	246,709	-1.6%	1.84%	+7.1%
AFL	Sell	AFLAC INC	$15,823,000	-4.4%	303,538	-1.6%	1.83%	-2.6%
SONY	Sell	SONY GROUP CORPORATIONsponsored adr	$15,760,000	+3.9%	142,518	-8.6%	1.82%	+5.8%
SLM	Buy	SLM CORP	$15,414,000	+23.7%	875,806	+47.1%	1.78%	+25.8%
IIVI	Sell	II-VI INC	$15,160,000	-19.0%	255,386	-0.9%	1.75%	-17.5%
RTX	Sell	RAYTHEON TECHNOLOGIES CORP	$15,071,000	-0.7%	175,329	-1.5%	1.74%	+1.1%
ABBV	Sell	ABBVIE INC	$14,569,000	-24.3%	135,065	-20.9%	1.68%	-22.9%
HPQ	Buy	HP INC	$14,366,000	-3.3%	525,081	+6.7%	1.66%	-1.5%
AVGO	Sell	BROADCOM INC	$13,889,000	+0.2%	28,642	-1.5%	1.60%	+2.0%
AXTA	Sell	AXALTA COATING SYS LTD	$13,545,000	-5.5%	464,036	-1.3%	1.56%	-3.8%
MHK	Sell	MOHAWK INDS INC	$13,141,000	-8.7%	74,073	-1.1%	1.52%	-7.1%
LEA	Buy	LEAR CORP	$12,927,000	-1.0%	82,613	+10.9%	1.49%	+0.7%
MRK	Sell	MERCK & CO INC	$12,226,000	-4.2%	162,776	-0.8%	1.41%	-2.4%
VZ	Sell	VERIZON COMMUNICATIONS INC	$12,103,000	-20.2%	224,091	-17.2%	1.40%	-18.8%
PFE	Sell	PFIZER INC	$12,051,000	-29.6%	280,185	-35.9%	1.39%	-28.4%
BAC	Sell	BK OF AMERICA CORP	$11,408,000	+1.7%	268,732	-1.2%	1.32%	+3.5%
SEE	Sell	SEALED AIR CORP NEW	$10,602,000	-27.7%	193,509	-21.9%	1.22%	-26.5%
UNH	Sell	UNITEDHEALTH GROUP INC	$10,367,000	-5.5%	26,532	-3.1%	1.20%	-3.8%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$9,721,000	-2.2%	35,617	-0.4%	1.12%	-0.4%
ADT	Buy	ADT INC DEL	$9,690,000	+262.4%	1,197,778	+383.2%	1.12%	+269.0%
DAR	Sell	DARLING INGREDIENTS INC	$9,330,000	+5.5%	129,770	-0.9%	1.08%	+7.4%
VTRS	Buy	VIATRIS INC	$8,564,000	+38.0%	632,030	+45.5%	0.99%	+40.5%
DISCK	Buy	DISCOVERY INC	$8,529,000	-12.9%	351,428	+4.0%	0.98%	-11.3%
PGR	Sell	PROGRESSIVE CORP	$8,186,000	-10.6%	90,565	-2.9%	0.94%	-9.1%
WHR	Sell	WHIRLPOOL CORP	$8,132,000	-7.7%	39,890	-1.3%	0.94%	-6.0%
SNOW	New	SNOWFLAKE INCcl a	$6,177,000	–	20,424	–	0.71%	–
JEF	Sell	JEFFERIES FINL GROUP INC	$4,741,000	+8.1%	127,677	-0.4%	0.55%	+10.1%
KLIC	Sell	KULICKE & SOFFA INDS INC	$4,662,000	-30.7%	80,000	-27.3%	0.54%	-29.5%
JNJ	Sell	JOHNSON & JOHNSON	$4,032,000	-4.3%	24,967	-2.4%	0.46%	-2.5%
PSTH	New	PERSHING SQUARE TONTINE HLDG	$2,802,000	–	142,251	–	0.32%	–
KPLT	New	KATAPULT HOLDINGS INC	$2,238,000	–	412,200	–	0.26%	–
FB	Sell	FACEBOOK INCcl a	$1,132,000	-7.0%	3,334	-4.7%	0.13%	-5.1%
BARK	New	THE ORIGINAL BARK COMPANY	$790,000	–	115,200	–	0.09%	–
DISCA	New	DISCOVERY INC	$783,000	–	30,839	–	0.09%	–
HFRO	New	HIGHLAND INCOME FD	$781,000	–	72,500	–	0.09%	–
MSFT	Sell	MICROSOFT CORP	$705,000	+0.1%	2,500	-3.8%	0.08%	+1.2%
	New	CYXTERA TECHNOLOGIES INC	$648,000	–	70,000	–	0.08%	–
SQ	Buy	SQUARE INCcl a	$636,000	+2.4%	2,651	+4.1%	0.07%	+4.3%
CAG	Sell	CONAGRA BRANDS INC	$534,000	-25.7%	15,762	-20.2%	0.06%	-23.5%
GPK	New	GRAPHIC PACKAGING HLDG CO	$522,000	–	27,436	–	0.06%	–
COIN	Buy	COINBASE GLOBAL INC	$455,000	+87.2%	2,000	+108.8%	0.05%	+85.7%
GF	Sell	NEW GERMANY FD INC	$433,000	-2.5%	21,933	-0.0%	0.05%	0.0%
REAL	Buy	THE REALREAL INC	$297,000	+3.8%	22,500	+55.7%	0.03%	+6.2%
ALC	New	ALCON AG	$203,000	–	2,526	–	0.02%	–
	New	CIPHER MINING INC	$155,000	–	15,000	–	0.02%	–
ASTR	New	ASTRA SPACE INC	$152,000	–	17,500	–	0.02%	–
CSPR	New	CASPER SLEEP INC	$97,000	–	22,700	–	0.01%	–
WPG	Exit	WASHINGTON PRIME GROUP NEW	$0	–	-23,704	–	-0.01%	–
SVACU	Exit	STARBOARD VALUE ACQUISITN COunit 09/10/2025	$0	–	-16,500	–	-0.02%	–
CHD	Exit	CHURCH & DWIGHT INC	$0	–	-2,400	–	-0.02%	–
GWAC	Exit	GOOD WORKS ACQUISITION CORP	$0	–	-54,000	–	-0.06%	–
REGN	Exit	REGENERON PHARMACEUTICALS	$0	–	-1,051	–	-0.07%	–
HOL	Exit	HOLICITY INC	$0	–	-64,000	–	-0.09%	–
WIW	Exit	WESTERN AST INFL LKD OPP & I	$0	–	-154,902	–	-0.23%	–

Q2 2021

			Value		Shares		↓ Weighting
GLD	New	SPDR GOLD TR	$126,941,000	–	766,412	–	14.38%	–
IAU	New	ISHARES GOLD TRishares new	$60,923,000	–	1,807,254	–	6.90%	–
T	New	AT&T INC	$24,991,000	–	868,348	–	2.83%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$24,422,000	–	166,600	–	2.77%	–
IHC	New	INDEPENDENCE HLDG CO NEW	$23,546,000	–	508,336	–	2.67%	–
DXC	New	DXC TECHNOLOGY CO	$22,573,000	–	579,696	–	2.56%	–
LITE	New	LUMENTUM HLDGS INC	$22,425,000	–	273,379	–	2.54%	–
GOOGL	New	ALPHABET INCcap stk cl a	$21,478,000	–	8,796	–	2.43%	–
HBI	New	HANESBRANDS INC	$21,095,000	–	1,129,872	–	2.39%	–
GBDC	New	GOLUB CAP BDC INC	$20,832,000	–	1,350,945	–	2.36%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$20,420,000	–	305,592	–	2.31%	–
ABBV	New	ABBVIE INC	$19,236,000	–	170,772	–	2.18%	–
IIVI	New	II-VI INC	$18,715,000	–	257,816	–	2.12%	–
PFE	New	PFIZER INC	$17,123,000	–	437,267	–	1.94%	–
AFL	New	AFLAC INC	$16,546,000	–	308,357	–	1.88%	–
CSCO	New	CISCO SYS INC	$16,105,000	–	303,860	–	1.82%	–
WRK	New	WESTROCK CO	$15,946,000	–	299,627	–	1.81%	–
XPO	New	XPO LOGISTICS INC	$15,931,000	–	113,883	–	1.80%	–
NTR	New	NUTRIEN LTD	$15,192,000	–	250,659	–	1.72%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$15,182,000	–	177,961	–	1.72%	–
VZ	New	VERIZON COMMUNICATIONS INC	$15,169,000	–	270,730	–	1.72%	–
SONY	New	SONY GROUP CORPORATIONsponsored adr	$15,165,000	–	155,991	–	1.72%	–
HPQ	New	HP INC	$14,855,000	–	492,044	–	1.68%	–
SEE	New	SEALED AIR CORP NEW	$14,672,000	–	247,636	–	1.66%	–
MHK	New	MOHAWK INDS INC	$14,389,000	–	74,871	–	1.63%	–
AXTA	New	AXALTA COATING SYS LTD	$14,339,000	–	470,293	–	1.62%	–
AVGO	New	BROADCOM INC	$13,860,000	–	29,066	–	1.57%	–
LEA	New	LEAR CORP	$13,062,000	–	74,518	–	1.48%	–
MRK	New	MERCK & CO INC	$12,763,000	–	164,115	–	1.45%	–
SLM	New	SLM CORP	$12,465,000	–	595,265	–	1.41%	–
BAC	New	BK OF AMERICA CORP	$11,212,000	–	271,938	–	1.27%	–
UNH	New	UNITEDHEALTH GROUP INC	$10,967,000	–	27,388	–	1.24%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$9,936,000	–	35,752	–	1.13%	–
DISCK	New	DISCOVERY INC	$9,789,000	–	337,792	–	1.11%	–
PGR	New	PROGRESSIVE CORP	$9,161,000	–	93,284	–	1.04%	–
DAR	New	DARLING INGREDIENTS INC	$8,842,000	–	130,989	–	1.00%	–
WHR	New	WHIRLPOOL CORP	$8,809,000	–	40,405	–	1.00%	–
MTB	New	M & T BK CORP	$8,143,000	–	56,041	–	0.92%	–
SLV	New	ISHARES SILVER TRishares	$7,353,000	–	303,575	–	0.83%	–
KLIC	New	KULICKE & SOFFA INDS INC	$6,732,000	–	110,000	–	0.76%	–
VTRS	New	VIATRIS INC	$6,208,000	–	434,461	–	0.70%	–
AAPL	New	APPLE INC	$5,002,000	–	36,520	–	0.57%	–
CYD	New	CHINA YUCHAI INTL LTD	$4,812,000	–	300,000	–	0.54%	–
JEF	New	JEFFERIES FINL GROUP INC	$4,384,000	–	128,177	–	0.50%	–
JNJ	New	JOHNSON & JOHNSON	$4,213,000	–	25,572	–	0.48%	–
AMZN	New	AMAZON COM INC	$3,743,000	–	1,088	–	0.42%	–
CRIS	New	CURIS INC	$3,252,000	–	403,003	–	0.37%	–
MO	New	ALTRIA GROUP INC	$3,228,000	–	67,695	–	0.37%	–
BEN	New	FRANKLIN RESOURCES INC	$3,014,000	–	94,216	–	0.34%	–
PM	New	PHILIP MORRIS INTL INC	$2,958,000	–	29,850	–	0.34%	–
ADT	New	ADT INC DEL	$2,674,000	–	247,860	–	0.30%	–
CBOE	New	CBOE GLOBAL MKTS INC	$2,611,000	–	21,935	–	0.30%	–
OGN	New	ORGANON & CO	$2,533,000	–	83,722	–	0.29%	–
LIN	New	LINDE PLC	$2,313,000	–	8,000	–	0.26%	–
LBTYK	New	LIBERTY GLOBAL PLC	$2,242,000	–	82,918	–	0.25%	–
WIW	New	WESTERN AST INFL LKD OPP & I	$2,031,000	–	154,902	–	0.23%	–
IVAC	New	INTEVAC INC	$1,979,000	–	293,646	–	0.22%	–
CGNX	New	COGNEX CORP	$1,933,000	–	23,000	–	0.22%	–
BNS	New	BANK NOVA SCOTIA B C	$1,861,000	–	28,600	–	0.21%	–
GNTX	New	GENTEX CORP	$1,853,000	–	56,000	–	0.21%	–
RY	New	ROYAL BK CDA	$1,834,000	–	18,100	–	0.21%	–
MNST	New	MONSTER BEVERAGE CORP NEW	$1,795,000	–	19,650	–	0.20%	–
USB	New	US BANCORP DEL	$1,715,000	–	30,100	–	0.19%	–
UNM	New	UNUM GROUP	$1,704,000	–	60,000	–	0.19%	–
PCH	New	POTLATCHDELTIC CORPORATION	$1,580,000	–	29,723	–	0.18%	–
NVS	New	NOVARTIS AGsponsored adr	$1,427,000	–	15,636	–	0.16%	–
ATR	New	APTARGROUP INC	$1,413,000	–	10,035	–	0.16%	–
INTC	New	INTEL CORP	$1,331,000	–	23,715	–	0.15%	–
DIS	New	DISNEY WALT CO	$1,312,000	–	7,464	–	0.15%	–
CL	New	COLGATE PALMOLIVE CO	$1,318,000	–	16,200	–	0.15%	–
SEIC	New	SEI INVTS CO	$1,304,000	–	21,045	–	0.15%	–
PSLV	New	SPROTT PHYSICAL SILVER TRtr unit	$1,269,000	–	136,709	–	0.14%	–
TEL	New	TE CONNECTIVITY LTD	$1,216,000	–	8,992	–	0.14%	–
FB	New	FACEBOOK INCcl a	$1,217,000	–	3,500	–	0.14%	–
SPSC	New	SPS COMM INC	$1,185,000	–	11,866	–	0.13%	–
PINC	New	PREMIER INCcl a	$1,030,000	–	29,600	–	0.12%	–
APLE	New	APPLE HOSPITALITY REIT INC	$953,000	–	62,460	–	0.11%	–
SHW	New	SHERWIN WILLIAMS CO	$927,000	–	3,402	–	0.10%	–
DORM	New	DORMAN PRODS INC	$868,000	–	8,376	–	0.10%	–
GOOG	New	ALPHABET INCcap stk cl c	$855,000	–	341	–	0.10%	–
WMT	New	WALMART INC	$842,000	–	5,971	–	0.10%	–
HOL	New	HOLICITY INC	$790,000	–	64,000	–	0.09%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$748,000	–	6,300	–	0.08%	–
AON	New	AON PLC	$729,000	–	3,054	–	0.08%	–
GVA	New	GRANITE CONSTR INC	$731,000	–	17,604	–	0.08%	–
CAG	New	CONAGRA BRANDS INC	$719,000	–	19,762	–	0.08%	–
MA	New	MASTERCARD INCORPORATEDcl a	$711,000	–	1,947	–	0.08%	–
MSFT	New	MICROSOFT CORP	$704,000	–	2,600	–	0.08%	–
LBTYA	New	LIBERTY GLOBAL PLC	$694,000	–	25,560	–	0.08%	–
PRLB	New	PROTO LABS INC	$653,000	–	7,114	–	0.07%	–
OCSL	New	OAKTREE SPECIALTY LENDING CO	$650,000	–	97,145	–	0.07%	–
L	New	LOEWS CORP	$656,000	–	12,000	–	0.07%	–
MET	New	METLIFE INC	$646,000	–	10,800	–	0.07%	–
NATI	New	NATIONAL INSTRS CORP	$622,000	–	14,723	–	0.07%	–
SQ	New	SQUARE INCcl a	$621,000	–	2,546	–	0.07%	–
REGN	New	REGENERON PHARMACEUTICALS	$587,000	–	1,051	–	0.07%	–
ETHO	New	ETF MANAGERS TRetho climate lea	$581,000	–	9,610	–	0.07%	–
STZ	New	CONSTELLATION BRANDS INCcl a	$561,000	–	2,400	–	0.06%	–
NAT	New	NORDIC AMERICAN TANKERS LIMI	$544,000	–	166,000	–	0.06%	–
GWAC	New	GOOD WORKS ACQUISITION CORP	$537,000	–	54,000	–	0.06%	–
COLIU	New	COLICITY INCunit 02/24/2026	$519,000	–	51,500	–	0.06%	–
LW	New	LAMB WESTON HLDGS INC	$488,000	–	6,050	–	0.06%	–
CHTR	New	CHARTER COMMUNICATIONS INC Ncl a	$472,000	–	654	–	0.05%	–
GF	New	NEW GERMANY FD INC	$444,000	–	21,934	–	0.05%	–
MDLZ	New	MONDELEZ INTL INCcl a	$432,000	–	6,920	–	0.05%	–
MUR	New	MURPHY OIL CORP	$413,000	–	17,726	–	0.05%	–
TSLA	New	TESLA INC	$419,000	–	617	–	0.05%	–
PHYS	New	SPROTT PHYSICAL GOLD TRunit	$397,000	–	28,291	–	0.04%	–
JPM	New	JPMORGAN CHASE & CO	$375,000	–	2,412	–	0.04%	–
PSPCU	New	POST HOLDINGS PARTNERING CORunit 99/99/9999	$353,000	–	34,000	–	0.04%	–
Y	New	ALLEGHANY CORP MD	$334,000	–	500	–	0.04%	–
AAQC	New	ACCELERATE ACQUISITION CORP	$339,000	–	35,000	–	0.04%	–
XOM	New	EXXON MOBIL CORP	$330,000	–	5,228	–	0.04%	–
LILAK	New	LIBERTY LATIN AMERICA LTD	$291,000	–	20,629	–	0.03%	–
FTI	New	TECHNIPFMC PLC	$289,000	–	31,900	–	0.03%	–
REAL	New	THE REALREAL INC	$286,000	–	14,451	–	0.03%	–
CTO	New	CTO RLTY GROWTH INC NEW	$274,000	–	5,144	–	0.03%	–
COIN	New	COINBASE GLOBAL INC	$243,000	–	958	–	0.03%	–
AGR	New	AVANGRID INC	$243,000	–	4,724	–	0.03%	–
GERN	New	GERON CORP	$218,000	–	154,700	–	0.02%	–
RIBT	New	RICEBRAN TECHNOLOGIES	$220,000	–	195,000	–	0.02%	–
CHD	New	CHURCH & DWIGHT INC	$205,000	–	2,400	–	0.02%	–
BK	New	BANK NEW YORK MELLON CORP	$205,000	–	4,000	–	0.02%	–
GSEVU	New	GORES HOLDINGS VII INCunit 02/12/2028	$197,000	–	19,543	–	0.02%	–
BOWX	New	BOWX ACQUISITION CORPcl a	$190,000	–	16,500	–	0.02%	–
SVACU	New	STARBOARD VALUE ACQUISITN COunit 09/10/2025	$171,000	–	16,500	–	0.02%	–
WALDU	New	WALDENCAST ACQUISITION CORPunit 03/11/2026	$170,000	–	16,500	–	0.02%	–
SIRI	New	SIRIUS XM HOLDINGS INC	$131,000	–	20,000	–	0.02%	–
WPG	New	WASHINGTON PRIME GROUP NEW	$51,000	–	23,704	–	0.01%	–
TXMD	New	THERAPEUTICSMD INC	$30,000	–	25,000	–	0.00%	–

Q4 2020

			Value		Shares		↓ Weighting
RIBT	Exit	RICEBRAN TECHNOLOGIES	$0	–	-195,000	–	-0.01%	–
SIRI	Exit	SIRIUS XM HOLDINGS INC	$0	–	-20,000	–	-0.02%	–
WPG	Exit	WASHINGTON PRIME GROUP NEW	$0	–	-224,574	–	-0.02%	–
MUR	Exit	MURPHY OIL CORP	$0	–	-19,226	–	-0.02%	–
LILAK	Exit	LIBERTY LATIN AMERICA LTD	$0	–	-20,629	–	-0.02%	–
INVE	Exit	IDENTIV INC	$0	–	-29,500	–	-0.03%	–
FTI	Exit	TECHNIPFMC PLC	$0	–	-31,900	–	-0.03%	–
FCRD	Exit	FIRST EAGLE ALTR CAP BDC INC	$0	–	-85,500	–	-0.03%	–
CHD	Exit	CHURCH & DWIGHT INC	$0	–	-2,400	–	-0.03%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-2,412	–	-0.03%	–
TSLA	Exit	TESLA INC	$0	–	-581	–	-0.04%	–
Y	Exit	ALLEGHANY CORP DEL	$0	–	-500	–	-0.04%	–
AGR	Exit	AVANGRID INC	$0	–	-5,402	–	-0.04%	–
GERN	Exit	GERON CORP	$0	–	-154,700	–	-0.04%	–
GVA	Exit	GRANITE CONSTR INC	$0	–	-17,604	–	-0.05%	–
GF	Exit	NEW GERMANY FD INC	$0	–	-18,941	–	-0.05%	–
CC	Exit	CHEMOURS CO	$0	–	-16,600	–	-0.05%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-6,920	–	-0.06%	–
LW	Exit	LAMB WESTON HLDGS INC	$0	–	-6,050	–	-0.06%	–
SQ	Exit	SQUARE INCcl a	$0	–	-2,440	–	-0.06%	–
MET	Exit	METLIFE INC	$0	–	-10,800	–	-0.06%	–
CHTR	Exit	CHARTER COMMUNICATIONS INC Ncl a	$0	–	-654	–	-0.06%	–
ETHO	Exit	ETF MANAGERS TRetho climate lea	$0	–	-9,610	–	-0.06%	–
SPB	Exit	SPECTRUM BRANDS HLDGS INC NE	$0	–	-7,685	–	-0.06%	–
STZ	Exit	CONSTELLATION BRANDS INCcl a	$0	–	-2,400	–	-0.07%	–
L	Exit	LOEWS CORP	$0	–	-14,000	–	-0.07%	–
CRIS	Exit	CURIS INC	$0	–	-429,025	–	-0.07%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-341	–	-0.07%	–
WIA	Exit	WESTERN ASST INFLTN LKD INM	$0	–	-42,711	–	-0.08%	–
NATI	Exit	NATIONAL INSTRS CORP	$0	–	-14,723	–	-0.08%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-2,600	–	-0.08%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-12,000	–	-0.08%	–
NAT	Exit	NORDIC AMERICAN TANKERS LIMI	$0	–	-166,000	–	-0.09%	–
REGN	Exit	REGENERON PHARMACEUTICALS	$0	–	-1,051	–	-0.09%	–
LBTYA	Exit	LIBERTY GLOBAL PLC	$0	–	-28,809	–	-0.09%	–
APLE	Exit	APPLE HOSPITALITY REIT INC	$0	–	-62,460	–	-0.09%	–
CVLT	Exit	COMMVAULT SYSTEMS INC	$0	–	-15,199	–	-0.09%	–
AON	Exit	AON PLC	$0	–	-3,054	–	-0.09%	–
MLM	Exit	MARTIN MARIETTA MATLS INC	$0	–	-2,669	–	-0.09%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-6,300	–	-0.09%	–
EFX	Exit	EQUIFAX INC	$0	–	-4,037	–	-0.09%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-1,947	–	-0.10%	–
A	Exit	AGILENT TECHNOLOGIES INC	$0	–	-6,900	–	-0.10%	–
CAG	Exit	CONAGRA BRANDS INC	$0	–	-19,762	–	-0.10%	–
ANGO	Exit	ANGIODYNAMICS INC	$0	–	-59,748	–	-0.11%	–
UNP	Exit	UNION PAC CORP	$0	–	-3,678	–	-0.11%	–
DORM	Exit	DORMAN PRODUCTS INC	$0	–	-8,376	–	-0.11%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-1,134	–	-0.12%	–
ATH	Exit	ATHENE HOLDING LTDcl a	$0	–	-24,705	–	-0.12%	–
PWR	Exit	QUANTA SVCS INC	$0	–	-16,341	–	-0.13%	–
	Exit	GOPRO INCnote 3.500% 4/1	$0	–	-900,000	–	-0.13%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-8,992	–	-0.13%	–
PHM	Exit	PULTE GROUP INC	$0	–	-19,463	–	-0.13%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-3,500	–	-0.14%	–
PRLB	Exit	PROTO LABS INC	$0	–	-7,114	–	-0.14%	–
SPSC	Exit	SPS COMMERCE INC	$0	–	-11,866	–	-0.14%	–
DIS	Exit	DISNEY WALT CO	$0	–	-7,464	–	-0.14%	–
WMT	Exit	WALMART INC	$0	–	-6,690	–	-0.14%	–
PINC	Exit	PREMIER INCcl a	$0	–	-29,600	–	-0.14%	–
UNM	Exit	UNUM GROUP	$0	–	-60,000	–	-0.15%	–
LEN	Exit	LENNAR CORPcl a	$0	–	-12,691	–	-0.15%	–
USB	Exit	US BANCORP DEL	$0	–	-30,100	–	-0.16%	–
PSLV	Exit	SPROTT PHYSICAL SILVER TRtr unit	$0	–	-136,709	–	-0.17%	–
BNS	Exit	BANK NOVA SCOTIA B C	$0	–	-28,600	–	-0.18%	–
ATR	Exit	APTARGROUP INC	$0	–	-10,751	–	-0.18%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-16,200	–	-0.18%	–
RY	Exit	ROYAL BK CDA	$0	–	-18,100	–	-0.19%	–
MYN	Exit	BLACKROCK MUNIYIELD N Y QUAL	$0	–	-100,600	–	-0.19%	–
INTC	Exit	INTEL CORP	$0	–	-25,571	–	-0.20%	–
MRK	Exit	MERCK & CO. INC	$0	–	-16,042	–	-0.20%	–
NVS	Exit	NOVARTIS AGsponsored adr	$0	–	-15,848	–	-0.20%	–
PCH	Exit	POTLATCHDELTIC CORPORATION	$0	–	-33,322	–	-0.21%	–
GNTX	Exit	GENTEX CORP	$0	–	-56,000	–	-0.21%	–
CGNX	Exit	COGNEX CORP	$0	–	-23,000	–	-0.22%	–
GPRO	Exit	GOPRO INCcl a	$0	–	-334,597	–	-0.22%	–
MNST	Exit	MONSTER BEVERAGE CORP NEW	$0	–	-19,650	–	-0.23%	–
IVAC	Exit	INTEVAC INC	$0	–	-293,646	–	-0.24%	–
WIW	Exit	WESTERN AST INFL LKD OPP & I	$0	–	-146,725	–	-0.24%	–
ADNT	Exit	ADIENT PLC	$0	–	-100,973	–	-0.26%	–
LBTYK	Exit	LIBERTY GLOBAL PLC	$0	–	-86,910	–	-0.26%	–
LIN	Exit	LINDE PLC	$0	–	-8,000	–	-0.28%	–
BEN	Exit	FRANKLIN RESOURCES INC	$0	–	-94,216	–	-0.28%	–
CBOE	Exit	CBOE GLOBAL MARKETS INC	$0	–	-21,935	–	-0.28%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-29,850	–	-0.33%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-67,695	–	-0.39%	–
DISCK	Exit	DISCOVERY INC	$0	–	-143,541	–	-0.42%	–
CMI	Exit	CUMMINS INC	$0	–	-14,500	–	-0.45%	–
OCSL	Exit	OAKTREE SPECIALTY LENDING CO	$0	–	-660,540	–	-0.47%	–
AMZN	Exit	AMAZON COM INC	$0	–	-1,088	–	-0.51%	–
KLIC	Exit	KULICKE & SOFFA INDS INC	$0	–	-160,000	–	-0.53%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-25,572	–	-0.56%	–
BG	Exit	BUNGE LIMITED	$0	–	-84,574	–	-0.57%	–
JEF	Exit	JEFFERIES FINL GROUP INC	$0	–	-227,000	–	-0.60%	–
AAPL	Exit	APPLE INC	$0	–	-36,815	–	-0.63%	–
OTIS	Exit	OTIS WORLDWIDE CORP	$0	–	-68,734	–	-0.63%	–
TAP	Exit	MOLSON COORS BEVERAGE COcl b	$0	–	-135,049	–	-0.67%	–
BAC	Exit	BK OF AMERICA CORP	$0	–	-197,352	–	-0.70%	–
AWF	Exit	ALLIANCEBERNSTEIN GLOBAL HIG	$0	–	-461,003	–	-0.72%	–
MTB	Exit	M & T BK CORP	$0	–	-56,041	–	-0.76%	–
DISCA	Exit	DISCOVERY INC	$0	–	-251,783	–	-0.81%	–
CYD	Exit	CHINA YUCHAI INTL LTD	$0	–	-338,610	–	-0.90%	–
SLV	Exit	ISHARES SILVER TRishares	$0	–	-303,575	–	-0.97%	–
TDC	Exit	TERADATA CORP DEL	$0	–	-311,946	–	-1.05%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-35,752	–	-1.12%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-143,472	–	-1.26%	–
WRK	Exit	WESTROCK CO	$0	–	-259,491	–	-1.33%	–
LEA	Exit	LEAR CORP	$0	–	-85,186	–	-1.37%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-162,576	–	-1.38%	–
AXTA	Exit	AXALTA COATING SYS LTD	$0	–	-423,294	–	-1.39%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-30,238	–	-1.39%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-98,085	–	-1.41%	–
CSCO	Exit	CISCO SYS INC	$0	–	-248,047	–	-1.44%	–
WHR	Exit	WHIRLPOOL CORP	$0	–	-54,259	–	-1.47%	–
NTR	Exit	NUTRIEN LTD	$0	–	-266,970	–	-1.55%	–
PGR	Exit	PROGRESSIVE CORP	$0	–	-112,875	–	-1.58%	–
SEE	Exit	SEALED AIR CORP NEW	$0	–	-283,744	–	-1.63%	–
XPO	Exit	XPO LOGISTICS INC	$0	–	-130,855	–	-1.64%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-621,034	–	-1.64%	–
PFE	Exit	PFIZER INC	$0	–	-308,269	–	-1.67%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-93,353	–	-1.68%	–
VIAC	Exit	VIACOMCBS INCcl b	$0	–	-408,610	–	-1.69%	–
AVGO	Exit	BROADCOM INC	$0	–	-31,559	–	-1.70%	–
AFL	Exit	AFLAC INC	$0	–	-325,953	–	-1.75%	–
SONY	Exit	SONY CORPsponsored adr	$0	–	-156,185	–	-1.77%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-9,349	–	-2.02%	–
HPQ	Exit	HP INC	$0	–	-723,890	–	-2.03%	–
ABBV	Exit	ABBVIE INC	$0	–	-176,872	–	-2.29%	–
GBDC	Exit	GOLUB CAP BDC INC	$0	–	-1,204,528	–	-2.36%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-306,144	–	-2.73%	–
IHC	Exit	INDEPENDENCE HLDG CO NEW	$0	–	-508,336	–	-2.83%	–
T	Exit	AT&T INC	$0	–	-675,043	–	-2.84%	–
HBI	Exit	HANESBRANDS INC	$0	–	-1,282,973	–	-2.98%	–
IAU	Exit	ISHARES GOLD TRUSTishares	$0	–	-3,614,509	–	-9.60%	–
GLD	Exit	SPDR GOLD TR	$0	–	-615,184	–	-16.09%	–

Q3 2020

			Value		Shares		↓ Weighting
GLD	Buy	SPDR GOLD TR	$108,961,000	+10.8%	615,184	+4.7%	16.09%	+2.9%
HBI	Sell	HANESBRANDS INC	$20,207,000	+24.2%	1,282,973	-11.0%	2.98%	+15.3%
T	Buy	AT&T INC	$19,245,000	+1.1%	675,043	+7.2%	2.84%	-6.1%
IHC	Sell	INDEPENDENCE HLDG CO NEW	$19,169,000	+22.6%	508,336	-0.6%	2.83%	+13.8%
GOOGL	Sell	ALPHABET INCcap stk cl a	$13,702,000	-8.0%	9,349	-11.0%	2.02%	-14.6%
AVGO	Sell	BROADCOM INC	$11,498,000	+4.6%	31,559	-9.4%	1.70%	-2.9%
PFE	Sell	PFIZER INC	$11,313,000	-20.0%	308,269	-28.7%	1.67%	-25.7%
XPO	Buy	XPO LOGISTICS INC	$11,078,000	+14.5%	130,855	+4.5%	1.64%	+6.3%
SEE	Sell	SEALED AIR CORP NEW	$11,012,000	+9.8%	283,744	-7.1%	1.63%	+1.9%
PGR	Sell	PROGRESSIVE CORP	$10,686,000	-12.8%	112,875	-26.2%	1.58%	-19.0%
CSCO	Buy	CISCO SYS INC	$9,771,000	+65.1%	248,047	+95.4%	1.44%	+53.3%
MHK	Buy	MOHAWK INDS INC	$9,572,000	+17.7%	98,085	+22.8%	1.41%	+9.4%
UNH	Sell	UNITEDHEALTH GROUP INC	$9,427,000	-9.0%	30,238	-13.9%	1.39%	-15.5%
AXTA	Buy	AXALTA COATING SYS LTD	$9,384,000	+12.7%	423,294	+14.6%	1.39%	+4.7%
RTX	Buy	RAYTHEON TECHNOLOGIES CORP	$9,355,000	+0.2%	162,576	+7.3%	1.38%	-6.9%
LEA	Sell	LEAR CORP	$9,290,000	-8.6%	85,186	-8.6%	1.37%	-15.1%
VZ	Buy	VERIZON COMMUNICATIONS INC	$8,535,000	+22.2%	143,472	+13.2%	1.26%	+13.4%
DISCA	Buy	DISCOVERY INC	$5,481,000	+55.8%	251,783	+51.1%	0.81%	+44.7%
AAPL	Buy	APPLE INC	$4,264,000	+27.7%	36,815	+302.1%	0.63%	+18.6%
BG	New	BUNGE LIMITED	$3,865,000	–	84,574	–	0.57%	–
DISCK	New	DISCOVERY INC	$2,813,000	–	143,541	–	0.42%	–
ATR	Sell	APTARGROUP INC	$1,217,000	+0.5%	10,751	-0.6%	0.18%	-6.7%
CRIS	Buy	CURIS INC	$502,000	-0.2%	429,025	+3.1%	0.07%	-7.5%
GF	Buy	NEW GERMANY FD INC	$320,000	+13.9%	18,941	+2.3%	0.05%	+4.4%
TSLA	New	TESLA INC	$249,000	–	581	–	0.04%	–
CHD	New	CHURCH & DWIGHT INC	$225,000	–	2,400	–	0.03%	–
FCRD	New	FIRST EAGLE ALTR CAP BDC INC	$212,000	–	85,500	–	0.03%	–
LILAK	Buy	LIBERTY LATIN AMERICA LTD	$168,000	+17.5%	20,629	+35.9%	0.02%	+8.7%
WPG	Buy	WASHINGTON PRIME GROUP NEW	$145,000	-15.7%	224,574	+10.0%	0.02%	-22.2%
RIBT	Buy	RICEBRAN TECHNOLOGIES	$82,000	-41.8%	195,000	+14.7%	0.01%	-45.5%
AMAG	Exit	AMAG PHARMACEUTICALS INC	$0	–	-25,000	–	-0.03%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-5,228	–	-0.04%	–
CHL	Exit	CHINA MOBILE LIMITEDsponsored adr	$0	–	-10,000	–	-0.05%	–
DD	Exit	DUPONT DE NEMOURS INC	$0	–	-11,366	–	-0.10%	–
TCRD	Exit	THL CREDIT INC	$0	–	-319,111	–	-0.16%	–
FL	Exit	FOOT LOCKER INC	$0	–	-60,550	–	-0.28%	–
CARR	Exit	CARRIER GLOBAL CORPORATION	$0	–	-89,404	–	-0.32%	–
DOW	Exit	DOW INC	$0	–	-81,878	–	-0.53%	–

Q2 2020

			Value		Shares		↓ Weighting
GLD	New	SPDR GOLD TR	$98,301,000	–	587,325	–	15.63%	–
IAU	New	ISHARES GOLD TRUSTishares	$61,411,000	–	3,614,509	–	9.77%	–
T	New	AT&T INC	$19,038,000	–	629,758	–	3.03%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$18,001,000	–	306,144	–	2.86%	–
ABBV	New	ABBVIE INC	$17,365,000	–	176,872	–	2.76%	–
HBI	New	HANESBRANDS INC	$16,267,000	–	1,440,798	–	2.59%	–
IHC	New	INDEPENDENCE HLDG CO NEW	$15,639,000	–	511,236	–	2.49%	–
GOOGL	New	ALPHABET INCcap stk cl a	$14,898,000	–	10,506	–	2.37%	–
PFE	New	PFIZER INC	$14,147,000	–	432,635	–	2.25%	–
GBDC	New	GOLUB CAP BDC INC	$14,033,000	–	1,204,528	–	2.23%	–
HPQ	New	HP INC	$12,617,000	–	723,890	–	2.01%	–
PGR	New	PROGRESSIVE CORP OHIO	$12,257,000	–	152,998	–	1.95%	–
AFL	New	AFLAC INC	$11,744,000	–	325,953	–	1.87%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$11,274,000	–	93,353	–	1.79%	–
AVGO	New	BROADCOM INC	$10,996,000	–	34,840	–	1.75%	–
SONY	New	SONY CORPsponsored adr	$10,797,000	–	156,185	–	1.72%	–
UNH	New	UNITEDHEALTH GROUP INC	$10,359,000	–	35,122	–	1.65%	–
DXC	New	DXC TECHNOLOGY CO	$10,247,000	–	621,034	–	1.63%	–
LEA	New	LEAR CORP	$10,161,000	–	93,205	–	1.62%	–
SEE	New	SEALED AIR CORP NEW	$10,031,000	–	305,353	–	1.60%	–
XPO	New	XPO LOGISTICS INC	$9,678,000	–	125,277	–	1.54%	–
VIAC	New	VIACOMCBS INCcl b	$9,529,000	–	408,610	–	1.52%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$9,333,000	–	151,457	–	1.48%	–
NTR	New	NUTRIEN LTD	$8,570,000	–	266,970	–	1.36%	–
AXTA	New	AXALTA COATING SYS LTD	$8,327,000	–	369,254	–	1.32%	–
MHK	New	MOHAWK INDS INC	$8,130,000	–	79,894	–	1.29%	–
WRK	New	WESTROCK CO	$7,333,000	–	259,491	–	1.17%	–
WHR	New	WHIRLPOOL CORP	$7,028,000	–	54,259	–	1.12%	–
VZ	New	VERIZON COMMUNICATIONS INC	$6,985,000	–	126,692	–	1.11%	–
TDC	New	TERADATA CORP DEL	$6,488,000	–	311,946	–	1.03%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$6,382,000	–	35,752	–	1.02%	–
CSCO	New	CISCO SYS INC	$5,920,000	–	126,934	–	0.94%	–
MTB	New	M & T BK CORP	$5,827,000	–	56,041	–	0.93%	–
SLV	New	ISHARES SILVER TRishares	$5,164,000	–	303,575	–	0.82%	–
CYD	New	CHINA YUCHAI INTL LTD	$4,869,000	–	338,610	–	0.77%	–
BAC	New	BK OF AMERICA CORP	$4,687,000	–	197,352	–	0.74%	–
AWF	New	ALLIANCEBERNSTEIN GLOBAL HIG	$4,656,000	–	461,003	–	0.74%	–
TAP	New	MOLSON COORS BEVERAGE COcl b	$4,640,000	–	135,049	–	0.74%	–
OTIS	New	OTIS WORLDWIDE CORP	$3,908,000	–	68,734	–	0.62%	–
JNJ	New	JOHNSON & JOHNSON	$3,596,000	–	25,572	–	0.57%	–
JEF	New	JEFFERIES FINL GROUP INC	$3,530,000	–	227,000	–	0.56%	–
DISCA	New	DISCOVERY INC	$3,517,000	–	166,684	–	0.56%	–
AAPL	New	APPLE INC	$3,340,000	–	9,155	–	0.53%	–
DOW	New	DOW INC	$3,337,000	–	81,878	–	0.53%	–
KLIC	New	KULICKE & SOFFA INDS INC	$3,333,000	–	160,000	–	0.53%	–
AMZN	New	AMAZON COM INC	$3,002,000	–	1,088	–	0.48%	–
OCSL	New	OAKTREE SPECIALTY LENDING CO	$2,953,000	–	660,540	–	0.47%	–
MO	New	ALTRIA GROUP INC	$2,657,000	–	67,695	–	0.42%	–
CMI	New	CUMMINS INC	$2,512,000	–	14,500	–	0.40%	–
PM	New	PHILIP MORRIS INTL INC	$2,091,000	–	29,850	–	0.33%	–
CBOE	New	CBOE GLOBAL MARKETS INC	$2,046,000	–	21,935	–	0.32%	–
CARR	New	CARRIER GLOBAL CORPORATION	$1,987,000	–	89,404	–	0.32%	–
BEN	New	FRANKLIN RESOURCES INC	$1,976,000	–	94,216	–	0.31%	–
LBTYK	New	LIBERTY GLOBAL PLC	$1,869,000	–	86,910	–	0.30%	–
FL	New	FOOT LOCKER INC	$1,766,000	–	60,550	–	0.28%	–
LIN	New	LINDE PLC	$1,697,000	–	8,000	–	0.27%	–
ADNT	New	ADIENT PLC	$1,658,000	–	100,973	–	0.26%	–
WIW	New	WESTERN AST INFL LKD OPP & I	$1,608,000	–	146,725	–	0.26%	–
IVAC	New	INTEVAC INC	$1,603,000	–	293,646	–	0.26%	–
GPRO	New	GOPRO INCcl a	$1,593,000	–	334,597	–	0.25%	–
INTC	New	INTEL CORP	$1,530,000	–	25,571	–	0.24%	–
GNTX	New	GENTEX CORP	$1,443,000	–	56,000	–	0.23%	–
NVS	New	NOVARTIS AGsponsored adr	$1,384,000	–	15,848	–	0.22%	–
CGNX	New	COGNEX CORP	$1,374,000	–	23,000	–	0.22%	–
MNST	New	MONSTER BEVERAGE CORP NEW	$1,362,000	–	19,650	–	0.22%	–
MYN	New	BLACKROCK MUNIYIELD N Y QUAL	$1,262,000	–	100,600	–	0.20%	–
PCH	New	POTLATCHDELTIC CORPORATION	$1,267,000	–	33,322	–	0.20%	–
MRK	New	MERCK & CO. INC	$1,241,000	–	16,042	–	0.20%	–
RY	New	ROYAL BK CDA	$1,227,000	–	18,100	–	0.20%	–
ATR	New	APTARGROUP INC	$1,211,000	–	10,818	–	0.19%	–
CL	New	COLGATE PALMOLIVE CO	$1,187,000	–	16,200	–	0.19%	–
BNS	New	BANK NOVA SCOTIA B C	$1,179,000	–	28,600	–	0.19%	–
USB	New	US BANCORP DEL	$1,108,000	–	30,100	–	0.18%	–
TCRD	New	THL CREDIT INC	$1,034,000	–	319,111	–	0.16%	–
PINC	New	PREMIER INCcl a	$1,015,000	–	29,600	–	0.16%	–
UNM	New	UNUM GROUP	$995,000	–	60,000	–	0.16%	–
PSLV	New	SPROTT PHYSICAL SILVER TRtr unit	$904,000	–	136,709	–	0.14%	–
SPSC	New	SPS COMMERCE INC	$891,000	–	11,866	–	0.14%	–
	New	GOPRO INCnote 3.500% 4/1	$884,000	–	900,000	–	0.14%	–
DIS	New	DISNEY WALT CO	$832,000	–	7,464	–	0.13%	–
PRLB	New	PROTO LABS INC	$800,000	–	7,114	–	0.13%	–
WMT	New	WALMART INC	$801,000	–	6,690	–	0.13%	–
FB	New	FACEBOOK INCcl a	$795,000	–	3,500	–	0.13%	–
LEN	New	LENNAR CORPcl a	$782,000	–	12,691	–	0.12%	–
ATH	New	ATHENE HLDG LTDcl a	$771,000	–	24,705	–	0.12%	–
TEL	New	TE CONNECTIVITY LTD	$733,000	–	8,992	–	0.12%	–
CAG	New	CONAGRA BRANDS INC	$695,000	–	19,762	–	0.11%	–
EFX	New	EQUIFAX INC	$694,000	–	4,037	–	0.11%	–
NAT	New	NORDIC AMERICAN TANKERS LIMI	$674,000	–	166,000	–	0.11%	–
PHM	New	PULTE GROUP INC	$662,000	–	19,463	–	0.10%	–
SHW	New	SHERWIN WILLIAMS CO	$655,000	–	1,134	–	0.10%	–
REGN	New	REGENERON PHARMACEUTICALS	$655,000	–	1,051	–	0.10%	–
PWR	New	QUANTA SVCS INC	$641,000	–	16,341	–	0.10%	–
LBTYA	New	LIBERTY GLOBAL PLC	$630,000	–	28,809	–	0.10%	–
UNP	New	UNION PAC CORP	$622,000	–	3,678	–	0.10%	–
A	New	AGILENT TECHNOLOGIES INC	$610,000	–	6,900	–	0.10%	–
ANGO	New	ANGIODYNAMICS INC	$608,000	–	59,748	–	0.10%	–
DD	New	DUPONT DE NEMOURS INC	$604,000	–	11,366	–	0.10%	–
APLE	New	APPLE HOSPITALITY REIT INC	$603,000	–	62,460	–	0.10%	–
CVLT	New	COMMVAULT SYSTEMS INC	$588,000	–	15,199	–	0.09%	–
AON	New	AON PLC	$588,000	–	3,054	–	0.09%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$577,000	–	6,300	–	0.09%	–
MA	New	MASTERCARD INCORPORATEDcl a	$576,000	–	1,947	–	0.09%	–
NATI	New	NATIONAL INSTRS CORP	$570,000	–	14,723	–	0.09%	–
DORM	New	DORMAN PRODUCTS INC	$562,000	–	8,376	–	0.09%	–
MLM	New	MARTIN MARIETTA MATLS INC	$551,000	–	2,669	–	0.09%	–
MSFT	New	MICROSOFT CORP	$529,000	–	2,600	–	0.08%	–
WIA	New	WESTERN ASST INFLTN LKD INM	$503,000	–	42,711	–	0.08%	–
CRIS	New	CURIS INC	$503,000	–	416,014	–	0.08%	–
GOOG	New	ALPHABET INCcap stk cl c	$482,000	–	341	–	0.08%	–
L	New	LOEWS CORP	$480,000	–	14,000	–	0.08%	–
CMCSA	New	COMCAST CORP NEWcl a	$468,000	–	12,000	–	0.07%	–
STZ	New	CONSTELLATION BRANDS INCcl a	$420,000	–	2,400	–	0.07%	–
MET	New	METLIFE INC	$394,000	–	10,800	–	0.06%	–
ETHO	New	ETF MANAGERS TRetho climate lea	$396,000	–	9,610	–	0.06%	–
LW	New	LAMB WESTON HLDGS INC	$387,000	–	6,050	–	0.06%	–
MDLZ	New	MONDELEZ INTL INCcl a	$354,000	–	6,920	–	0.06%	–
SPB	New	SPECTRUM BRANDS HLDGS INC NE	$353,000	–	7,685	–	0.06%	–
GVA	New	GRANITE CONSTR INC	$337,000	–	17,604	–	0.05%	–
GERN	New	GERON CORP	$337,000	–	154,700	–	0.05%	–
CHTR	New	CHARTER COMMUNICATIONS INC Ncl a	$334,000	–	654	–	0.05%	–
CHL	New	CHINA MOBILE LIMITEDsponsored adr	$336,000	–	10,000	–	0.05%	–
GF	New	NEW GERMANY FD INC	$281,000	–	18,519	–	0.04%	–
MUR	New	MURPHY OIL CORP	$265,000	–	19,226	–	0.04%	–
CC	New	CHEMOURS CO	$255,000	–	16,600	–	0.04%	–
SQ	New	SQUARE INCcl a	$256,000	–	2,440	–	0.04%	–
Y	New	ALLEGHANY CORP DEL	$245,000	–	500	–	0.04%	–
XOM	New	EXXON MOBIL CORP	$234,000	–	5,228	–	0.04%	–
JPM	New	JPMORGAN CHASE & CO	$227,000	–	2,412	–	0.04%	–
AGR	New	AVANGRID INC	$227,000	–	5,402	–	0.04%	–
FTI	New	TECHNIPFMC PLC	$218,000	–	31,900	–	0.04%	–
AMAG	New	AMAG PHARMACEUTICALS INC	$191,000	–	25,000	–	0.03%	–
WPG	New	WASHINGTON PRIME GROUP NEW	$172,000	–	204,228	–	0.03%	–
INVE	New	IDENTIV INC	$150,000	–	29,500	–	0.02%	–
LILAK	New	LIBERTY LATIN AMERICA LTD	$143,000	–	15,183	–	0.02%	–
RIBT	New	RICEBRAN TECHNOLOGIES	$141,000	–	170,000	–	0.02%	–
SIRI	New	SIRIUS XM HOLDINGS INC	$117,000	–	20,000	–	0.02%	–

Q4 2019

			Value		Shares		↓ Weighting
GCVRZ	Exit	SANOFIright 12/31/2020	$0	–	-18,900	–	-0.00%	–
NLNK	Exit	NEWLINK GENETICS CORP	$0	–	-10,000	–	-0.00%	–
SIRI	Exit	SIRIUS XM HLDGS INC	$0	–	-20,000	–	-0.02%	–
INVE	Exit	IDENTIV INC	$0	–	-29,500	–	-0.03%	–
GERN	Exit	GERON CORP	$0	–	-154,700	–	-0.04%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-1,150	–	-0.04%	–
GF	Exit	NEW GERMANY FD INC	$0	–	-18,281	–	-0.04%	–
LILAK	Exit	LIBERTY LATIN AMERICA LTD	$0	–	-15,183	–	-0.04%	–
CTO	Exit	CONSOLIDATED TOMOKA LD CO	$0	–	-4,000	–	-0.04%	–
CHTR	Exit	CHARTER COMMUNICATIONS INC Ncl a	$0	–	-654	–	-0.05%	–
CSCO	Exit	CISCO SYS INC	$0	–	-7,200	–	-0.06%	–
NAT	Exit	NORDIC AMERICAN TANKERS LIMI	$0	–	-166,000	–	-0.06%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-2,600	–	-0.06%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-5,228	–	-0.06%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-6,920	–	-0.06%	–
AGR	Exit	AVANGRID INC	$0	–	-7,666	–	-0.07%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-3,412	–	-0.07%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-341	–	-0.07%	–
MUR	Exit	MURPHY OIL CORP	$0	–	-19,226	–	-0.07%	–
CC	Exit	CHEMOURS CO	$0	–	-28,600	–	-0.07%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-2,650	–	-0.08%	–
DFODQ	Exit	DEAN FOODS CO NEW	$0	–	-399,170	–	-0.08%	–
VAPO	Exit	VAPOTHERM INC	$0	–	-50,000	–	-0.08%	–
LW	Exit	LAMB WESTON HLDGS INC	$0	–	-6,587	–	-0.08%	–
STZ	Exit	CONSTELLATION BRANDS INCcl a	$0	–	-2,400	–	-0.08%	–
WIA	Exit	WESTERN ASST INFLTN LKD INM	$0	–	-42,711	–	-0.08%	–
MET	Exit	METLIFE INC	$0	–	-10,800	–	-0.09%	–
GVA	Exit	GRANITE CONSTR INC	$0	–	-17,604	–	-0.10%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-5,000	–	-0.10%	–
CAG	Exit	CONAGRA BRANDS INC	$0	–	-19,762	–	-0.10%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-3,500	–	-0.11%	–
DGICA	Exit	DONEGAL GROUP INCcl a	$0	–	-43,932	–	-0.11%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-77,301	–	-0.12%	–
LBTYA	Exit	LIBERTY GLOBAL PLC	$0	–	-28,809	–	-0.12%	–
L	Exit	LOEWS CORP	$0	–	-14,000	–	-0.12%	–
TNK	Exit	TEEKAY TANKERS LTDcl a	$0	–	-562,200	–	-0.12%	–
FTI	Exit	TECHNIPFMC PLC	$0	–	-31,900	–	-0.13%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-17,500	–	-0.13%	–
WMT	Exit	WALMART INC	$0	–	-6,690	–	-0.14%	–
Y	Exit	ALLEGHANY CORP DEL	$0	–	-1,000	–	-0.14%	–
DD	Exit	DUPONT DE NEMOURS INC	$0	–	-11,366	–	-0.14%	–
UNP	Exit	UNION PACIFIC CORP	$0	–	-5,000	–	-0.14%	–
PSLV	Exit	SPROTT PHYSICAL SILVER TRtr unit	$0	–	-136,709	–	-0.14%	–
PINC	Exit	PREMIER INCcl a	$0	–	-29,600	–	-0.14%	–
	Exit	GOPRO INCnote 3.500% 4/1	$0	–	-900,000	–	-0.15%	–
CRIS	Exit	CURIS INC	$0	–	-416,014	–	-0.16%	–
DIS	Exit	DISNEY WALT CO	$0	–	-7,464	–	-0.16%	–
APLE	Exit	APPLE HOSPITALITY REIT INC	$0	–	-62,460	–	-0.18%	–
ATH	Exit	ATHENE HLDG LTDcl a	$0	–	-24,705	–	-0.18%	–
ARQL	Exit	ARQULE INC	$0	–	-150,000	–	-0.18%	–
PHI	Exit	PLDT INCsponsored adr	$0	–	-50,000	–	-0.19%	–
CGNX	Exit	COGNEX CORP	$0	–	-23,000	–	-0.19%	–
MNST	Exit	MONSTER BEVERAGE CORP NEW	$0	–	-19,650	–	-0.19%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-16,200	–	-0.20%	–
MYN	Exit	BLACKROCK MUNIYIELD NY QLTY	$0	–	-100,600	–	-0.22%	–
INTC	Exit	INTEL CORP	$0	–	-26,187	–	-0.23%	–
PCH	Exit	POTLATCHDELTIC CORPORATION	$0	–	-33,322	–	-0.23%	–
NVS	Exit	NOVARTIS A Gsponsored adr	$0	–	-15,848	–	-0.23%	–
RY	Exit	ROYAL BK CDA MONTREAL QUE	$0	–	-18,100	–	-0.25%	–
ATR	Exit	APTARGROUP INC	$0	–	-12,939	–	-0.26%	–
IVAC	Exit	INTEVAC INC	$0	–	-293,646	–	-0.26%	–
GNTX	Exit	GENTEX CORP	$0	–	-56,000	–	-0.26%	–
LIN	Exit	LINDE PLC	$0	–	-8,000	–	-0.26%	–
BNS	Exit	BANK N S HALIFAX	$0	–	-28,600	–	-0.28%	–
WIW	Exit	WESTERN AST INFL LKD OPP & I	$0	–	-146,725	–	-0.28%	–
USB	Exit	US BANCORP DEL	$0	–	-30,100	–	-0.28%	–
WPG	Exit	WASHINGTON PRIME GROUP NEW	$0	–	-408,797	–	-0.29%	–
GPRO	Exit	GOPRO INCcl a	$0	–	-334,597	–	-0.30%	–
UNM	Exit	UNUM GROUP	$0	–	-60,000	–	-0.30%	–
AMZN	Exit	AMAZON COM INC	$0	–	-1,088	–	-0.32%	–
AAPL	Exit	APPLE INC	$0	–	-8,606	–	-0.33%	–
LBTYK	Exit	LIBERTY GLOBAL PLC	$0	–	-86,910	–	-0.35%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-29,850	–	-0.38%	–
ADNT	Exit	ADIENT PLC	$0	–	-100,973	–	-0.39%	–
CMI	Exit	CUMMINS INC	$0	–	-14,500	–	-0.40%	–
OCSL	Exit	OAKTREE SPECIALTY LENDING CO	$0	–	-470,540	–	-0.41%	–
THO	Exit	THOR INDS INC	$0	–	-43,670	–	-0.42%	–
CBOE	Exit	CBOE GLOBAL MARKETS INC	$0	–	-21,935	–	-0.43%	–
MRK	Exit	MERCK & CO INC	$0	–	-31,354	–	-0.45%	–
BEN	Exit	FRANKLIN RES INC	$0	–	-94,216	–	-0.46%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-67,695	–	-0.47%	–
PAAS	Exit	PAN AMERICAN SILVER CORP	$0	–	-183,984	–	-0.49%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-49,031	–	-0.50%	–
RGLD	Exit	ROYAL GOLD INC	$0	–	-26,040	–	-0.54%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-25,572	–	-0.56%	–
QCOM	Exit	QUALCOMM INC	$0	–	-45,160	–	-0.58%	–
PFE	Exit	PFIZER INC	$0	–	-96,061	–	-0.59%	–
CYD	Exit	CHINA YUCHAI INTL LTD	$0	–	-293,100	–	-0.64%	–
JEF	Exit	JEFFERIES FINL GROUP INC	$0	–	-227,000	–	-0.71%	–
MMM	Exit	3M CO	$0	–	-25,947	–	-0.72%	–
SEE	Exit	SEALED AIR CORP NEW	$0	–	-109,341	–	-0.77%	–
GOLD	Exit	BARRICK GOLD CORPORATION	$0	–	-263,748	–	-0.78%	–
SLV	Exit	ISHARES SILVER TRUSTishares	$0	–	-303,575	–	-0.82%	–
KLIC	Exit	KULICKE & SOFFA INDS INC	$0	–	-230,000	–	-0.92%	–
DISCA	Exit	DISCOVERY INC	$0	–	-213,303	–	-0.96%	–
ALB	Exit	ALBEMARLE CORP	$0	–	-83,286	–	-0.98%	–
NXPI	Exit	NXP SEMICONDUCTORS N V	$0	–	-53,429	–	-0.99%	–
AVGO	Exit	BROADCOM INC	$0	–	-22,186	–	-1.04%	–
TMUS	Exit	T MOBILE US INC	$0	–	-80,317	–	-1.07%	–
AFL	Exit	AFLAC INC	$0	–	-122,739	–	-1.09%	–
AXTA	Exit	AXALTA COATING SYS LTD	$0	–	-216,954	–	-1.11%	–
SONY	Exit	SONY CORPsponsored adr	$0	–	-110,996	–	-1.12%	–
ABBV	Exit	ABBVIE INC	$0	–	-89,136	–	-1.15%	–
MGM	Exit	MGM RESORTS INTERNATIONAL	$0	–	-268,350	–	-1.26%	–
LEA	Exit	LEAR CORP	$0	–	-66,777	–	-1.34%	–
SPB	Exit	SPECTRUM BRANDS HLDGS INC NE	$0	–	-164,482	–	-1.47%	–
DOW	Exit	DOW INC	$0	–	-184,424	–	-1.49%	–
NTR	Exit	NUTRIEN LTD	$0	–	-177,690	–	-1.50%	–
MTB	Exit	M & T BK CORP	$0	–	-56,791	–	-1.52%	–
M	Exit	MACYS INC	$0	–	-577,841	–	-1.52%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-71,887	–	-1.67%	–
WRK	Exit	WESTROCK CO	$0	–	-270,064	–	-1.67%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-79,567	–	-1.68%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-334,843	–	-1.68%	–
GBDC	Exit	GOLUB CAP BDC INC	$0	–	-545,744	–	-1.75%	–
WHR	Exit	WHIRLPOOL CORP	$0	–	-67,690	–	-1.82%	–
PGR	Exit	PROGRESSIVE CORP OHIO	$0	–	-139,583	–	-1.83%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-171,974	–	-1.85%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-78,746	–	-1.94%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-9,559	–	-1.98%	–
AGN	Exit	ALLERGAN PLC	$0	–	-70,311	–	-2.01%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-56,611	–	-2.09%	–
TAP	Exit	MOLSON COORS BREWING COcl b	$0	–	-228,661	–	-2.23%	–
T	Exit	AT&T INC	$0	–	-381,859	–	-2.45%	–
FL	Exit	FOOT LOCKER INC	$0	–	-389,984	–	-2.86%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-346,307	–	-2.98%	–
AWF	Exit	ALLIANCEBERNSTEIN GBL HGH IN	$0	–	-1,466,841	–	-2.99%	–
HBI	Exit	HANESBRANDS INC	$0	–	-1,235,446	–	-3.21%	–
IHC	Exit	INDEPENDENCE HLDG CO NEW	$0	–	-509,341	–	-3.34%	–
IAU	Exit	ISHARES GOLD TRUSTishares	$0	–	-2,892,400	–	-6.93%	–
GLD	Exit	SPDR GOLD TRUST	$0	–	-364,487	–	-8.60%	–

Q3 2019

			Value		Shares		↓ Weighting
HBI	Buy	HANESBRANDS INC	$18,927,000	+46.9%	1,235,446	+65.2%	3.21%	+42.3%
AWF	Sell	ALLIANCEBERNSTEIN GBL HGH IN	$17,587,000	-11.6%	1,466,841	-13.2%	2.99%	-14.4%
BMY	Buy	BRISTOL MYERS SQUIBB CO	$17,561,000	+17.8%	346,307	+5.4%	2.98%	+14.0%
FL	Buy	FOOT LOCKER INC	$16,832,000	+24.6%	389,984	+21.0%	2.86%	+20.6%
T	Sell	AT&T INC	$14,450,000	-41.8%	381,859	-48.4%	2.45%	-43.6%
TAP	Buy	MOLSON COORS BREWING COcl b	$13,148,000	+5.3%	228,661	+2.6%	2.23%	+2.0%
UNH	Buy	UNITEDHEALTH GROUP INC	$12,303,000	+63.9%	56,611	+84.0%	2.09%	+58.6%
AGN	Buy	ALLERGAN PLC	$11,833,000	+21.7%	70,311	+21.1%	2.01%	+17.8%
GOOGL	Buy	ALPHABET INCcap stk cl a	$11,673,000	+15.6%	9,559	+2.5%	1.98%	+11.9%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$11,451,000	+4.9%	78,746	-0.6%	1.94%	+1.5%
GILD	Buy	GILEAD SCIENCES INC	$10,900,000	-5.1%	171,974	+1.2%	1.85%	-8.1%
PGR	Buy	PROGRESSIVE CORP OHIO	$10,783,000	-1.4%	139,583	+2.0%	1.83%	-4.5%
WHR	Buy	WHIRLPOOL CORP	$10,719,000	+13.3%	67,690	+1.8%	1.82%	+9.6%
GBDC	Sell	GOLUB CAP BDC INC	$10,282,000	-9.5%	545,744	-14.5%	1.75%	-12.4%
DXC	New	DXC TECHNOLOGY CO	$9,878,000	–	334,843	–	1.68%	–
MHK	Buy	MOHAWK INDS INC	$9,872,000	+4.3%	79,567	+24.0%	1.68%	+0.9%
WRK	Sell	WESTROCK CO	$9,844,000	-7.2%	270,064	-7.1%	1.67%	-10.2%
UTX	Buy	UNITED TECHNOLOGIES CORP	$9,814,000	+6.3%	71,887	+1.4%	1.67%	+2.9%
M	Buy	MACYS INC	$8,980,000	+191.5%	577,841	+302.5%	1.52%	+182.4%
NTR	Buy	NUTRIEN LTD	$8,863,000	-4.7%	177,690	+2.2%	1.50%	-7.7%
DOW	Buy	DOW INC	$8,788,000	+43.9%	184,424	+48.9%	1.49%	+39.2%
SPB	Buy	SPECTRUM BRANDS HLDGS INC NE	$8,671,000	+6.3%	164,482	+8.4%	1.47%	+2.9%
LEA	Buy	LEAR CORP	$7,873,000	-5.5%	66,777	+11.6%	1.34%	-8.5%
MGM	Sell	MGM RESORTS INTERNATIONAL	$7,439,000	-4.1%	268,350	-1.1%	1.26%	-7.1%
ABBV	Buy	ABBVIE INC	$6,749,000	+25.5%	89,136	+20.5%	1.15%	+21.5%
SONY	New	SONY CORPsponsored adr	$6,563,000	–	110,996	–	1.12%	–
AXTA	Buy	AXALTA COATING SYS LTD	$6,541,000	+50.4%	216,954	+48.6%	1.11%	+45.6%
AFL	Buy	AFLAC INC	$6,422,000	-1.0%	122,739	+3.8%	1.09%	-4.0%
TMUS	Buy	T MOBILE US INC	$6,327,000	+10.2%	80,317	+3.7%	1.07%	+6.7%
AVGO	Sell	BROADCOM INC	$6,125,000	-5.4%	22,186	-1.4%	1.04%	-8.5%
NXPI	Sell	NXP SEMICONDUCTORS N V	$5,830,000	-52.9%	53,429	-57.8%	0.99%	-54.4%
ALB	Buy	ALBEMARLE CORP	$5,790,000	-0.2%	83,286	+1.1%	0.98%	-3.3%
DISCA	New	DISCOVERY INC	$5,680,000	–	213,303	–	0.96%	–
KLIC	Sell	KULICKE & SOFFA INDS INC	$5,400,000	-14.5%	230,000	-17.9%	0.92%	-17.2%
SEE	Buy	SEALED AIR CORP NEW	$4,539,000	+2.1%	109,341	+5.2%	0.77%	-1.2%
MMM	Sell	3M CO	$4,266,000	-7.2%	25,947	-2.1%	0.72%	-10.2%
CYD	Buy	CHINA YUCHAI INTL LTD	$3,796,000	-11.1%	293,100	+2.8%	0.64%	-13.9%
QCOM	Sell	QUALCOMM INC	$3,445,000	-14.2%	45,160	-14.5%	0.58%	-16.9%
OCSL	Buy	OAKTREE SPECIALTY LENDING CO	$2,437,000	+21.4%	470,540	+27.0%	0.41%	+17.6%
MYN	Sell	BLACKROCK MUNIYIELD NY QLTY	$1,314,000	-9.8%	100,600	-12.2%	0.22%	-12.9%
PHI	Buy	PLDT INCsponsored adr	$1,100,000	+195.7%	50,000	+233.3%	0.19%	+187.7%
CRIS	Sell	CURIS INC	$932,000	+17.8%	416,014	-2.2%	0.16%	+13.7%
DD	Sell	DUPONT DE NEMOURS INC	$811,000	-4.9%	11,366	-0.0%	0.14%	-8.0%
Y	Sell	ALLEGHANY CORP DEL	$798,000	-21.9%	1,000	-33.3%	0.14%	-24.0%
CMCSA	Sell	COMCAST CORP NEWcl a	$789,000	-37.8%	17,500	-41.7%	0.13%	-39.6%
DGICA	Sell	DONEGAL GROUP INCcl a	$644,000	-10.7%	43,932	-6.9%	0.11%	-13.5%
VAPO	Buy	VAPOTHERM INC	$474,000	-48.5%	50,000	+25.0%	0.08%	-50.3%
DFODQ	Sell	DEAN FOODS CO NEW	$463,000	-4.3%	399,170	-23.8%	0.08%	-7.1%
CC	Buy	CHEMOURS CO	$427,000	+7.3%	28,600	+72.3%	0.07%	+4.3%
AGR	Sell	AVANGRID INC	$401,000	-84.7%	7,666	-85.2%	0.07%	-85.2%
MSFT	Sell	MICROSOFT CORP	$361,000	-0.3%	2,600	-3.7%	0.06%	-4.7%
GF	Buy	NEW GERMANY FD INC	$253,000	-0.4%	18,281	+2.2%	0.04%	-4.4%
GCVRZ	Sell	SANOFIright 12/31/2020	$11,000	-66.7%	18,900	-70.4%	0.00%	-66.7%
CTVA	Exit	CORTEVA INC	$0	–	-11,367	–	-0.06%	–
VC	Exit	VISTEON CORP	$0	–	-15,000	–	-0.15%	–
NWL	Exit	NEWELL BRANDS INC	$0	–	-410,274	–	-1.11%	–
NOC	Exit	NORTHROP GRUMMAN CORP	$0	–	-19,983	–	-1.13%	–

Q2 2019

			Value		Shares		↓ Weighting
GLD	New	SPDR GOLD TRUST	$48,550,000	–	364,487	–	8.52%	–
IAU	New	ISHARES GOLD TRUSTishares	$39,047,000	–	2,892,400	–	6.85%	–
T	New	AT&T INC	$24,813,000	–	740,474	–	4.35%	–
AWF	New	ALLIANCEBERNSTEIN GBL HGH IN	$19,898,000	–	1,689,124	–	3.49%	–
IHC	New	INDEPENDENCE HLDG CO NEW	$19,722,000	–	509,341	–	3.46%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$14,906,000	–	328,694	–	2.62%	–
FL	New	FOOT LOCKER INC	$13,512,000	–	322,331	–	2.37%	–
HBI	New	HANESBRANDS INC	$12,880,000	–	747,950	–	2.26%	–
TAP	New	MOLSON COORS BREWING COcl b	$12,484,000	–	222,934	–	2.19%	–
NXPI	New	NXP SEMICONDUCTORS N V	$12,371,000	–	126,744	–	2.17%	–
GILD	New	GILEAD SCIENCES INC	$11,482,000	–	169,957	–	2.01%	–
GBDC	New	GOLUB CAP BDC INC	$11,361,000	–	638,244	–	1.99%	–
PGR	New	PROGRESSIVE CORP OHIO	$10,934,000	–	136,795	–	1.92%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$10,921,000	–	79,193	–	1.92%	–
WRK	New	WESTROCK CO	$10,608,000	–	290,860	–	1.86%	–
GOOGL	New	ALPHABET INCcap stk cl a	$10,096,000	–	9,324	–	1.77%	–
AGN	New	ALLERGAN PLC	$9,721,000	–	58,061	–	1.70%	–
MTB	New	M & T BK CORP	$9,658,000	–	56,791	–	1.69%	–
MHK	New	MOHAWK INDS INC	$9,466,000	–	64,190	–	1.66%	–
WHR	New	WHIRLPOOL CORP	$9,464,000	–	66,481	–	1.66%	–
NTR	New	NUTRIEN LTD	$9,297,000	–	173,902	–	1.63%	–
UTX	New	UNITED TECHNOLOGIES CORP	$9,235,000	–	70,929	–	1.62%	–
LEA	New	LEAR CORP	$8,330,000	–	59,810	–	1.46%	–
SPB	New	SPECTRUM BRANDS HLDGS INC NE	$8,156,000	–	151,675	–	1.43%	–
MGM	New	MGM RESORTS INTERNATIONAL	$7,754,000	–	271,420	–	1.36%	–
UNH	New	UNITEDHEALTH GROUP INC	$7,508,000	–	30,770	–	1.32%	–
AFL	New	AFLAC INC	$6,484,000	–	118,294	–	1.14%	–
AVGO	New	BROADCOM INC	$6,475,000	–	22,493	–	1.14%	–
NOC	New	NORTHROP GRUMMAN CORP	$6,457,000	–	19,983	–	1.13%	–
NWL	New	NEWELL BRANDS INC	$6,326,000	–	410,274	–	1.11%	–
KLIC	New	KULICKE & SOFFA INDS INC	$6,314,000	–	280,000	–	1.11%	–
DOW	New	DOW INC	$6,109,000	–	123,887	–	1.07%	–
ALB	New	ALBEMARLE CORP	$5,799,000	–	82,363	–	1.02%	–
TMUS	New	T MOBILE US INC	$5,740,000	–	77,425	–	1.01%	–
ABBV	New	ABBVIE INC	$5,377,000	–	73,943	–	0.94%	–
MMM	New	3M CO	$4,595,000	–	26,507	–	0.81%	–
SEE	New	SEALED AIR CORP NEW	$4,447,000	–	103,944	–	0.78%	–
JEF	New	JEFFERIES FINL GROUP INC	$4,365,000	–	227,000	–	0.77%	–
SLV	New	ISHARES SILVER TRUSTishares	$4,350,000	–	303,575	–	0.76%	–
AXTA	New	AXALTA COATING SYS LTD	$4,348,000	–	146,044	–	0.76%	–
CYD	New	CHINA YUCHAI INTL LTD	$4,272,000	–	285,000	–	0.75%	–
PFE	New	PFIZER INC	$4,161,000	–	96,061	–	0.73%	–
GOLD	New	BARRICK GOLD CORPORATION	$4,159,000	–	263,748	–	0.73%	–
QCOM	New	QUALCOMM INC	$4,016,000	–	52,797	–	0.70%	–
JNJ	New	JOHNSON & JOHNSON	$3,562,000	–	25,572	–	0.62%	–
BEN	New	FRANKLIN RES INC	$3,279,000	–	94,216	–	0.58%	–
MO	New	ALTRIA GROUP INC	$3,205,000	–	67,695	–	0.56%	–
M	New	MACYS INC	$3,081,000	–	143,557	–	0.54%	–
VZ	New	VERIZON COMMUNICATIONS INC	$2,801,000	–	49,031	–	0.49%	–
RGLD	New	ROYAL GOLD INC	$2,669,000	–	26,040	–	0.47%	–
MRK	New	MERCK & CO INC	$2,629,000	–	31,354	–	0.46%	–
AGR	New	AVANGRID INC	$2,618,000	–	51,832	–	0.46%	–
THO	New	THOR INDS INC	$2,553,000	–	43,670	–	0.45%	–
CMI	New	CUMMINS INC	$2,484,000	–	14,500	–	0.44%	–
ADNT	New	ADIENT PLC	$2,451,000	–	100,973	–	0.43%	–
PAAS	New	PAN AMERICAN SILVER CORP	$2,375,000	–	183,984	–	0.42%	–
PM	New	PHILIP MORRIS INTL INC	$2,344,000	–	29,850	–	0.41%	–
LBTYK	New	LIBERTY GLOBAL PLC	$2,306,000	–	86,910	–	0.40%	–
CBOE	New	CBOE GLOBAL MARKETS INC	$2,273,000	–	21,935	–	0.40%	–
AMZN	New	AMAZON COM INC	$2,060,000	–	1,088	–	0.36%	–
UNM	New	UNUM GROUP	$2,013,000	–	60,000	–	0.35%	–
OCSL	New	OAKTREE SPECIALTY LENDING CO	$2,008,000	–	370,540	–	0.35%	–
GPRO	New	GOPRO INCcl a	$1,827,000	–	334,597	–	0.32%	–
AAPL	New	APPLE INC	$1,703,000	–	8,606	–	0.30%	–
ARQL	New	ARQULE INC	$1,652,000	–	150,000	–	0.29%	–
WIW	New	WESTERN AST INFL LKD OPP & I	$1,642,000	–	146,725	–	0.29%	–
ATR	New	APTARGROUP INC	$1,609,000	–	12,939	–	0.28%	–
LIN	New	LINDE PLC	$1,606,000	–	8,000	–	0.28%	–
USB	New	US BANCORP DEL	$1,577,000	–	30,100	–	0.28%	–
WPG	New	WASHINGTON PRIME GROUP NEW	$1,562,000	–	408,797	–	0.27%	–
BNS	New	BANK N S HALIFAX	$1,554,000	–	28,600	–	0.27%	–
MYN	New	BLACKROCK MUNIYIELD NY QLTY	$1,457,000	–	114,600	–	0.26%	–
NVS	New	NOVARTIS A Gsponsored adr	$1,447,000	–	15,848	–	0.25%	–
RY	New	ROYAL BK CDA MONTREAL QUE	$1,437,000	–	18,100	–	0.25%	–
IVAC	New	INTEVAC INC	$1,421,000	–	293,646	–	0.25%	–
GNTX	New	GENTEX CORP	$1,378,000	–	56,000	–	0.24%	–
PCH	New	POTLATCHDELTIC CORPORATION	$1,299,000	–	33,322	–	0.23%	–
CMCSA	New	COMCAST CORP NEWcl a	$1,268,000	–	30,000	–	0.22%	–
MNST	New	MONSTER BEVERAGE CORP NEW	$1,254,000	–	19,650	–	0.22%	–
INTC	New	INTEL CORP	$1,254,000	–	26,187	–	0.22%	–
CL	New	COLGATE PALMOLIVE CO	$1,161,000	–	16,200	–	0.20%	–
PINC	New	PREMIER INCcl a	$1,158,000	–	29,600	–	0.20%	–
CGNX	New	COGNEX CORP	$1,104,000	–	23,000	–	0.19%	–
ATH	New	ATHENE HLDG LTDcl a	$1,064,000	–	24,705	–	0.19%	–
DIS	New	DISNEY WALT CO	$1,042,000	–	7,464	–	0.18%	–
Y	New	ALLEGHANY CORP DEL	$1,022,000	–	1,500	–	0.18%	–
APLE	New	APPLE HOSPITALITY REIT INC	$991,000	–	62,460	–	0.17%	–
VAPO	New	VAPOTHERM INC	$920,000	–	39,988	–	0.16%	–
	New	GOPRO INCnote 3.500% 4/1	$893,000	–	900,000	–	0.16%	–
VC	New	VISTEON CORP	$879,000	–	15,000	–	0.15%	–
DD	New	DUPONT DE NEMOURS INC	$853,000	–	11,367	–	0.15%	–
GVA	New	GRANITE CONSTR INC	$848,000	–	17,604	–	0.15%	–
UNP	New	UNION PACIFIC CORP	$846,000	–	5,000	–	0.15%	–
FTI	New	TECHNIPFMC PLC	$827,000	–	31,900	–	0.14%	–
GE	New	GENERAL ELECTRIC CO	$812,000	–	77,301	–	0.14%	–
CRIS	New	CURIS INC	$791,000	–	425,338	–	0.14%	–
PSLV	New	SPROTT PHYSICAL SILVER TRtr unit	$781,000	–	136,709	–	0.14%	–
LBTYA	New	LIBERTY GLOBAL PLC	$778,000	–	28,809	–	0.14%	–
L	New	LOEWS CORP	$765,000	–	14,000	–	0.13%	–
WMT	New	WALMART INC	$739,000	–	6,690	–	0.13%	–
TNK	New	TEEKAY TANKERS LTDcl a	$720,000	–	562,200	–	0.13%	–
DGICA	New	DONEGAL GROUP INCcl a	$721,000	–	47,213	–	0.13%	–
FB	New	FACEBOOK INCcl a	$676,000	–	3,500	–	0.12%	–
AXP	New	AMERICAN EXPRESS CO	$617,000	–	5,000	–	0.11%	–
MET	New	METLIFE INC	$536,000	–	10,800	–	0.09%	–
CAG	New	CONAGRA BRANDS INC	$524,000	–	19,762	–	0.09%	–
WIA	New	WESTERN ASST INFLTN LKD INM	$498,000	–	42,711	–	0.09%	–
DFODQ	New	DEAN FOODS CO NEW	$484,000	–	524,145	–	0.08%	–
STZ	New	CONSTELLATION BRANDS INCcl a	$473,000	–	2,400	–	0.08%	–
MUR	New	MURPHY OIL CORP	$474,000	–	19,226	–	0.08%	–
HON	New	HONEYWELL INTL INC	$463,000	–	2,650	–	0.08%	–
LW	New	LAMB WESTON HLDGS INC	$417,000	–	6,587	–	0.07%	–
XOM	New	EXXON MOBIL CORP	$401,000	–	5,228	–	0.07%	–
CC	New	CHEMOURS CO	$398,000	–	16,600	–	0.07%	–
CSCO	New	CISCO SYS INC	$394,000	–	7,200	–	0.07%	–
NAT	New	NORDIC AMERICAN TANKERS LIMI	$388,000	–	166,000	–	0.07%	–
JPM	New	JPMORGAN CHASE & CO	$381,000	–	3,412	–	0.07%	–
MDLZ	New	MONDELEZ INTL INCcl a	$373,000	–	6,920	–	0.06%	–
PHI	New	PLDT INCsponsored adr	$372,000	–	15,000	–	0.06%	–
GOOG	New	ALPHABET INCcap stk cl c	$369,000	–	341	–	0.06%	–
MSFT	New	MICROSOFT CORP	$362,000	–	2,700	–	0.06%	–
CTVA	New	CORTEVA INC	$336,000	–	11,367	–	0.06%	–
LILAK	New	LIBERTY LATIN AMERICA LTD	$261,000	–	15,183	–	0.05%	–
GF	New	NEW GERMANY FD INC	$254,000	–	17,888	–	0.04%	–
CHTR	New	CHARTER COMMUNICATIONS INC Ncl a	$258,000	–	654	–	0.04%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$245,000	–	1,150	–	0.04%	–
CTO	New	CONSOLIDATED TOMOKA LD CO	$239,000	–	4,000	–	0.04%	–
GERN	New	GERON CORP	$218,000	–	154,700	–	0.04%	–
INVE	New	IDENTIV INC	$151,000	–	29,500	–	0.03%	–
SIRI	New	SIRIUS XM HLDGS INC	$112,000	–	20,000	–	0.02%	–
GCVRZ	New	SANOFIright 12/31/2020	$33,000	–	63,817	–	0.01%	–
NLNK	New	NEWLINK GENETICS CORP	$15,000	–	10,000	–	0.00%	–

Q4 2018

			Value		Shares		↓ Weighting
GCVRZ	Exit	SANOFIright 12/31/2020	$0	–	-63,817	–	-0.01%	–
ABEV	Exit	AMBEV SAsponsored adr	$0	–	-17,875	–	-0.01%	–
LILA	Exit	LIBERTY LATIN AMERIC-CL A	$0	–	-5,916	–	-0.02%	–
SIRI	Exit	SIRIUS XM HLDGS INC	$0	–	-20,000	–	-0.02%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-4,000	–	-0.04%	–
OXY	Exit	OCCIDENTAL PETE CORP DEL	$0	–	-2,522	–	-0.04%	–
CHD	Exit	CHURCH & DWIGHT INC	$0	–	-3,600	–	-0.04%	–
INVE	Exit	IDENTIV INC	$0	–	-40,500	–	-0.04%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-1,150	–	-0.04%	–
CTO	Exit	CONSOLIDATED TOMOKA LD CO	$0	–	-4,000	–	-0.04%	–
GF	Exit	NEW GERMANY FD INC	$0	–	-14,698	–	-0.05%	–
GERN	Exit	GERON CORP	$0	–	-154,700	–	-0.05%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-6,920	–	-0.05%	–
MUSA	Exit	MURPHY USA INC	$0	–	-3,531	–	-0.05%	–
LILAK	Exit	LIBERTY LATIN AMERICA LTD	$0	–	-15,183	–	-0.05%	–
NAT	Exit	NORDIC AMERICAN TANKERS LIMI	$0	–	-166,000	–	-0.06%	–
CSCO	Exit	CISCO SYS INC	$0	–	-7,200	–	-0.06%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-4,094	–	-0.06%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-2,275	–	-0.06%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-3,412	–	-0.07%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-341	–	-0.07%	–
NLNK	Exit	NEWLINK GENETICS CORP	$0	–	-181,740	–	-0.08%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-5,228	–	-0.08%	–
LW	Exit	LAMB WESTON HLDGS INC	$0	–	-6,587	–	-0.08%	–
WIA	Exit	WESTERN ASST INFLTN LKD INM	$0	–	-40,726	–	-0.08%	–
STZ	Exit	CONSTELLATION BRANDS INCcl a	$0	–	-2,400	–	-0.09%	–
ARDMQ	Exit	ARADIGM CORP	$0	–	-479,477	–	-0.09%	–
TNK	Exit	TEEKAY TANKERS LTDcl a	$0	–	-562,200	–	-0.10%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-3,800	–	-0.11%	–
CAG	Exit	CONAGRA BRANDS INC	$0	–	-19,762	–	-0.12%	–
L	Exit	LOEWS CORP	$0	–	-14,000	–	-0.12%	–
PSLV	Exit	SPROTT PHYSICAL SILVER TRtr unit	$0	–	-136,709	–	-0.12%	–
CHTR	Exit	CHARTER COMMUNICATIONS INC Ncl a	$0	–	-2,396	–	-0.13%	–
MUR	Exit	MURPHY OIL CORP	$0	–	-24,226	–	-0.14%	–
GVA	Exit	GRANITE CONSTR INC	$0	–	-17,604	–	-0.14%	–
DGICA	Exit	DONEGAL GROUP INCcl a	$0	–	-57,386	–	-0.14%	–
DIS	Exit	DISNEY WALT CO	$0	–	-7,000	–	-0.14%	–
LBTYA	Exit	LIBERTY GLOBAL PLC	$0	–	-28,809	–	-0.14%	–
ARQL	Exit	ARQULE INC	$0	–	-150,000	–	-0.15%	–
	Exit	GOPRO INCnote 3.500% 4/1	$0	–	-900,000	–	-0.15%	–
PPC	Exit	PILGRIMS PRIDE CORP NEW	$0	–	-51,600	–	-0.16%	–
MET	Exit	METLIFE INC	$0	–	-20,800	–	-0.17%	–
F	Exit	FORD MTR CO DEL	$0	–	-107,440	–	-0.17%	–
FTI	Exit	TECHNIPFMC PLC	$0	–	-31,900	–	-0.17%	–
CRIS	Exit	CURIS INC	$0	–	-583,750	–	-0.18%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-16,200	–	-0.19%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-13,650	–	-0.20%	–
CERN	Exit	CERNER CORP	$0	–	-18,000	–	-0.20%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-10,953	–	-0.20%	–
PCH	Exit	POTLATCHDELTIC CORPORATION	$0	–	-29,000	–	-0.20%	–
GNTX	Exit	GENTEX CORP	$0	–	-56,000	–	-0.21%	–
PX	Exit	PRAXAIR INC	$0	–	-8,000	–	-0.22%	–
CGNX	Exit	COGNEX CORP	$0	–	-23,000	–	-0.22%	–
MYN	Exit	BLACKROCK MUNIYIELD NY QLTY	$0	–	-114,600	–	-0.23%	–
INTC	Exit	INTEL CORP	$0	–	-28,296	–	-0.23%	–
NVS	Exit	NOVARTIS A Gsponsored adr	$0	–	-15,848	–	-0.24%	–
RY	Exit	ROYAL BK CDA MONTREAL QUE	$0	–	-18,100	–	-0.25%	–
UNP	Exit	UNION PAC CORP	$0	–	-9,000	–	-0.25%	–
ATR	Exit	APTARGROUP INC	$0	–	-14,129	–	-0.26%	–
IVAC	Exit	INTEVAC INC	$0	–	-293,646	–	-0.26%	–
WIW	Exit	WESTERN AST INFL LKD OPP & I	$0	–	-142,100	–	-0.26%	–
Y	Exit	ALLEGHANY CORP DEL	$0	–	-2,386	–	-0.27%	–
	Exit	LAYNE CHRISTENSEN COnote 4.250%11/1	$0	–	-1,550,000	–	-0.27%	–
BBBY	Exit	BED BATH & BEYOND INC	$0	–	-105,700	–	-0.27%	–
USB	Exit	US BANCORP DEL	$0	–	-30,100	–	-0.27%	–
BNS	Exit	BANK N S HALIFAX	$0	–	-28,600	–	-0.29%	–
RGLD	Exit	ROYAL GOLD INC	$0	–	-26,040	–	-0.35%	–
CMI	Exit	CUMMINS INC	$0	–	-14,500	–	-0.36%	–
DHI	Exit	D R HORTON INC	$0	–	-50,400	–	-0.37%	–
AMZN	Exit	AMAZON COM INC	$0	–	-1,088	–	-0.38%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-27,700	–	-0.39%	–
MNST	Exit	MONSTER BEVERAGE CORP NEW	$0	–	-39,650	–	-0.40%	–
LBTYK	Exit	LIBERTY GLOBAL PLC	$0	–	-83,629	–	-0.41%	–
OCSL	Exit	OAKTREE SPECIALTY LENDING CO	$0	–	-479,860	–	-0.41%	–
AAPL	Exit	APPLE INC	$0	–	-10,606	–	-0.41%	–
GPRO	Exit	GOPRO INCcl a	$0	–	-334,597	–	-0.42%	–
UNM	Exit	UNUM GROUP	$0	–	-64,000	–	-0.43%	–
TAHO	Exit	TAHOE RES INC	$0	–	-953,675	–	-0.46%	–
DE	Exit	DEERE & CO	$0	–	-17,931	–	-0.46%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-18,591	–	-0.49%	–
DFODQ	Exit	DEAN FOODS CO NEW	$0	–	-399,170	–	-0.49%	–
BEN	Exit	FRANKLIN RES INC	$0	–	-94,216	–	-0.49%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-54,631	–	-0.50%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-48,600	–	-0.50%	–
WMT	Exit	WALMART INC	$0	–	-31,486	–	-0.51%	–
AGR	Exit	AVANGRID INC	$0	–	-62,664	–	-0.52%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-273,401	–	-0.53%	–
SLV	Exit	ISHARES SILVER TRUSTishares	$0	–	-241,600	–	-0.57%	–
CYD	Exit	CHINA YUCHAI INTL LTD	$0	–	-210,000	–	-0.62%	–
FL	Exit	FOOT LOCKER INC	$0	–	-72,900	–	-0.64%	–
AXTA	Exit	AXALTA COATING SYS LTD	$0	–	-134,380	–	-0.68%	–
WPG	Exit	WASHINGTON PRIME GROUP NEW	$0	–	-552,400	–	-0.69%	–
SEE	Exit	SEALED AIR CORP NEW	$0	–	-101,637	–	-0.70%	–
MRK	Exit	MERCK & CO INC	$0	–	-57,790	–	-0.71%	–
CHL	Exit	CHINA MOBILE LIMITEDsponsored adr	$0	–	-90,000	–	-0.76%	–
PFE	Exit	PFIZER INC	$0	–	-101,061	–	-0.77%	–
TMUS	Exit	T MOBILE US INC	$0	–	-64,875	–	-0.78%	–
CCJ	Exit	CAMECO CORP	$0	–	-411,400	–	-0.81%	–
MMM	Exit	3M CO	$0	–	-22,548	–	-0.82%	–
AJG	Exit	GALLAGHER ARTHUR J & CO	$0	–	-65,043	–	-0.83%	–
JEF	Exit	JEFFERIES FINL GROUP INC	$0	–	-227,000	–	-0.86%	–
AFL	Exit	AFLAC INC	$0	–	-117,899	–	-0.96%	–
KLIC	Exit	KULICKE & SOFFA INDS INC	$0	–	-250,000	–	-1.03%	–
MGM	Exit	MGM RESORTS INTERNATIONAL	$0	–	-220,695	–	-1.06%	–
PGR	Exit	PROGRESSIVE CORP OHIO	$0	–	-87,124	–	-1.07%	–
HBI	Exit	HANESBRANDS INC	$0	–	-339,829	–	-1.08%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-97,754	–	-1.08%	–
WHR	Exit	WHIRLPOOL CORP	$0	–	-53,320	–	-1.09%	–
ADNT	Exit	ADIENT PLC	$0	–	-161,490	–	-1.09%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-40,420	–	-1.22%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-54,124	–	-1.30%	–
NTR	Exit	NUTRIEN LTD	$0	–	-140,177	–	-1.39%	–
CBOE	Exit	CBOE GLOBAL MARKETS INC	$0	–	-87,158	–	-1.44%	–
TAP	Exit	MOLSON COORS BREWING COcl b	$0	–	-137,855	–	-1.46%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-74,130	–	-1.46%	–
WRK	Exit	WESTROCK CO	$0	–	-166,196	–	-1.53%	–
MTB	Exit	M & T BK CORP	$0	–	-56,297	–	-1.60%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-68,378	–	-1.63%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-123,784	–	-1.65%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-167,434	–	-1.79%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-8,802	–	-1.83%	–
GBDC	Exit	GOLUB CAP BDC INC	$0	–	-638,244	–	-2.06%	–
NWL	Exit	NEWELL BRANDS INC	$0	–	-591,603	–	-2.07%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-365,602	–	-2.23%	–
SPB	Exit	SPECTRUM BRANDS HLDGS INC NE	$0	–	-173,548	–	-2.23%	–
QCOM	Exit	QUALCOMM INC	$0	–	-184,584	–	-2.29%	–
AVGO	Exit	BROADCOM INC	$0	–	-63,966	–	-2.72%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-106,576	–	-2.78%	–
NXPI	Exit	NXP SEMICONDUCTORS N V	$0	–	-191,684	–	-2.82%	–
FOXA	Exit	TWENTY FIRST CENTY FOX INCcl a	$0	–	-378,863	–	-3.02%	–
IHC	Exit	INDEPENDENCE HLDG CO NEW	$0	–	-509,341	–	-3.15%	–
AWF	Exit	ALLIANCEBERNSTEIN GBL HGH IN	$0	–	-1,690,932	–	-3.39%	–
T	Exit	AT&T INC	$0	–	-641,878	–	-3.71%	–
IAU	Exit	ISHARES GOLD TRUSTishares	$0	–	-2,892,400	–	-5.69%	–
GLD	Exit	SPDR GOLD TRUST	$0	–	-340,765	–	-6.62%	–

Q3 2018

			Value		Shares		↓ Weighting
GLD	Sell	SPDR GOLD TRUST	$38,425,000	-47.7%	340,765	-44.9%	6.62%	-48.8%
IAU	Buy	ISHARES GOLD TRUSTishares	$33,060,000	+1738.7%	2,892,400	+1833.4%	5.69%	+1701.6%
T	Buy	AT&T INC	$21,554,000	+14.0%	641,878	+9.0%	3.71%	+11.6%
IHC	Sell	INDEPENDENCE HLDG CO NEW	$18,285,000	+7.6%	509,341	-0.4%	3.15%	+5.3%
FOXA	Buy	TWENTY FIRST CENTY FOX INCcl a	$17,553,000	+20.1%	378,863	+28.8%	3.02%	+17.5%
NXPI	Buy	NXP SEMICONDUCTORS N V	$16,389,000	+45.2%	191,684	+85.6%	2.82%	+42.1%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$16,115,000	+8.7%	106,576	+0.4%	2.78%	+6.4%
AVGO	Buy	BROADCOM INC	$15,782,000	+149.9%	63,966	+145.8%	2.72%	+144.6%
QCOM	Sell	QUALCOMM INC	$13,296,000	+7.2%	184,584	-16.5%	2.29%	+4.9%
SPB	New	SPECTRUM BRANDS HLDGS INC NE	$12,968,000	–	173,548	–	2.23%	–
CMCSA	Buy	COMCAST CORP NEWcl a	$12,946,000	+9.1%	365,602	+1.0%	2.23%	+6.7%
NWL	Buy	NEWELL BRANDS INC	$12,010,000	-13.1%	591,603	+10.4%	2.07%	-15.0%
GOOGL	Sell	ALPHABET INCcap stk cl a	$10,625,000	-11.1%	8,802	-16.8%	1.83%	-13.0%
BMY	Sell	BRISTOL MYERS SQUIBB CO	$10,394,000	+4.9%	167,434	-6.5%	1.79%	+2.6%
GILD	Buy	GILEAD SCIENCES INC	$9,557,000	+9.8%	123,784	+0.7%	1.65%	+7.4%
JNJ	Sell	JOHNSON & JOHNSON	$9,448,000	+5.6%	68,378	-7.3%	1.63%	+3.3%
WRK	Buy	WESTROCK CO	$8,882,000	+25.0%	166,196	+33.3%	1.53%	+22.2%
TAP	Buy	MOLSON COORS BREWING COcl b	$8,478,000	-8.7%	137,855	+1.1%	1.46%	-10.6%
MSFT	Sell	MICROSOFT CORP	$8,478,000	-9.5%	74,130	-22.0%	1.46%	-11.5%
CBOE	New	CBOE GLOBAL MARKETS INC	$8,364,000	–	87,158	–	1.44%	–
NTR	Sell	NUTRIEN LTD	$8,088,000	-9.8%	140,177	-15.0%	1.39%	-11.7%
UTX	Buy	UNITED TECHNOLOGIES CORP	$7,567,000	+87.3%	54,124	+67.5%	1.30%	+83.3%
MHK	Buy	MOHAWK INDS INC	$7,088,000	+583.5%	40,420	+735.1%	1.22%	+567.2%
ADNT	Buy	ADIENT PLC	$6,348,000	+15.3%	161,490	+44.3%	1.09%	+12.8%
WHR	New	WHIRLPOOL CORP	$6,332,000	–	53,320	–	1.09%	–
DWDP	Buy	DOWDUPONT INC	$6,287,000	-1.5%	97,754	+1.0%	1.08%	-3.6%
HBI	Buy	HANESBRANDS INC	$6,263,000	-15.4%	339,829	+1.1%	1.08%	-17.2%
PGR	Buy	PROGRESSIVE CORP OHIO	$6,189,000	+21.5%	87,124	+1.2%	1.07%	+19.0%
MGM	Buy	MGM RESORTS INTERNATIONAL	$6,160,000	+52.3%	220,695	+58.4%	1.06%	+49.0%
KLIC	Sell	KULICKE & SOFFA INDS INC	$5,960,000	-3.8%	250,000	-3.8%	1.03%	-5.9%
AFL	Buy	AFLAC INC	$5,550,000	+10.4%	117,899	+0.9%	0.96%	+8.1%
AJG	Sell	GALLAGHER ARTHUR J & CO	$4,842,000	-1.2%	65,043	-13.4%	0.83%	-3.4%
MMM	Sell	3M CO	$4,751,000	-10.1%	22,548	-16.1%	0.82%	-12.0%
TMUS	Buy	T MOBILE US INC	$4,553,000	+48.3%	64,875	+26.2%	0.78%	+44.9%
PFE	Sell	PFIZER INC	$4,454,000	-48.1%	101,061	-57.3%	0.77%	-49.2%
SEE	Buy	SEALED AIR CORP NEW	$4,081,000	-4.3%	101,637	+1.1%	0.70%	-6.4%
AXTA	Buy	AXALTA COATING SYS LTD	$3,919,000	-3.0%	134,380	+0.8%	0.68%	-5.1%
CYD	Buy	CHINA YUCHAI INTL LTD	$3,627,000	-8.4%	210,000	+15.1%	0.62%	-10.3%
GE	Buy	GENERAL ELECTRIC CO	$3,087,000	+20.6%	273,401	+45.3%	0.53%	+18.0%
MO	Buy	ALTRIA GROUP INC	$2,931,000	+244.0%	48,600	+224.0%	0.50%	+236.7%
BEN	New	FRANKLIN RES INC	$2,865,000	–	94,216	–	0.49%	–
DFODQ	Buy	DEAN FOODS CO NEW	$2,834,000	+105.8%	399,170	+204.7%	0.49%	+101.7%
CAT	Sell	CATERPILLAR INC DEL	$2,835,000	-11.4%	18,591	-21.2%	0.49%	-13.3%
DE	Sell	DEERE & CO	$2,696,000	-15.8%	17,931	-21.7%	0.46%	-17.6%
TAHO	Buy	TAHOE RES INC	$2,661,000	+51.9%	953,675	+167.9%	0.46%	+48.7%
GPRO	Sell	GOPRO INCcl a	$2,409,000	+10.2%	334,597	-1.5%	0.42%	+7.8%
PM	Sell	PHILIP MORRIS INTL INC	$2,259,000	-26.6%	27,700	-27.3%	0.39%	-28.1%
RGLD	New	ROYAL GOLD INC	$2,007,000	–	26,040	–	0.35%	–
F	New	FORD MTR CO DEL	$994,000	–	107,440	–	0.17%	–
MET	Sell	METLIFE INC	$972,000	-86.0%	20,800	-86.9%	0.17%	-86.3%
PPC	New	PILGRIMS PRIDE CORP NEW	$933,000	–	51,600	–	0.16%	–
NLNK	Sell	NEWLINK GENETICS CORP	$434,000	-63.0%	181,740	-26.2%	0.08%	-63.6%
CHD	New	CHURCH & DWIGHT INC	$214,000	–	3,600	–	0.04%	–
LILA	Buy	LIBERTY LATIN AMERIC-CL A	$123,000	+16.0%	5,916	+6.8%	0.02%	+10.5%
GCVRZ	Sell	SANOFIright 12/31/2020	$36,000	-50.7%	63,817	-56.4%	0.01%	-53.8%
LORL	Exit	LORAL SPACE & COMMUNICATNS I	$0	–	-15,216	–	-0.10%	–
OLED	Exit	UNIVERSAL DISPLAY CORP	$0	–	-10,000	–	-0.15%	–
SNA	Exit	SNAP ON INC	$0	–	-7,000	–	-0.20%	–
BIIB	Exit	BIOGEN INC	$0	–	-3,900	–	-0.20%	–
DRQ	Exit	DRIL-QUIP INC	$0	–	-24,500	–	-0.22%	–
DKS	Exit	DICKS SPORTING GOODS INC	$0	–	-37,800	–	-0.23%	–
XYL	Exit	XYLEM INC	$0	–	-19,900	–	-0.24%	–
VRTV	Exit	VERITIV CORP	$0	–	-40,300	–	-0.28%	–
OII	Exit	OCEANEERING INTL INC	$0	–	-92,800	–	-0.42%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-40,100	–	-0.74%	–
HRG	Exit	HRG GROUP INC	$0	–	-333,200	–	-0.77%	–
NOV	Exit	NATIONAL OILWELL VARCO INC	$0	–	-131,300	–	-1.00%	–
EOG	Exit	EOG RES INC	$0	–	-47,950	–	-1.05%	–
SYY	Exit	SYSCO CORP	$0	–	-101,300	–	-1.22%	–
SPB	Exit	SPECTRUM BRANDS HLDGS INC	$0	–	-118,300	–	-1.70%	–

Q2 2018

			Value		Shares		↓ Weighting
GLD	New	SPDR GOLD TRUST	$73,405,000	–	618,665	–	12.92%	–
AWF	New	ALLIANCEBERNSTEIN GBL HGH IN	$19,513,000	–	1,690,932	–	3.43%	–
T	New	AT&T INC	$18,901,000	–	588,618	–	3.33%	–
IHC	New	INDEPENDENCE HLDG CO NEW	$16,996,000	–	511,161	–	2.99%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$14,825,000	–	106,122	–	2.61%	–
FOXA	New	TWENTY FIRST CENTY FOX INCcl a	$14,615,000	–	294,115	–	2.57%	–
NWL	New	NEWELL BRANDS INC	$13,826,000	–	536,110	–	2.43%	–
QCOM	New	QUALCOMM INC	$12,403,000	–	221,012	–	2.18%	–
GOOGL	New	ALPHABET INCcap stk cl a	$11,948,000	–	10,581	–	2.10%	–
CMCSA	New	COMCAST CORP NEWcl a	$11,871,000	–	361,809	–	2.09%	–
GBDC	New	GOLUB CAP BDC INC	$11,680,000	–	638,244	–	2.06%	–
NXPI	New	NXP SEMICONDUCTORS N V	$11,285,000	–	103,275	–	1.99%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$9,907,000	–	179,029	–	1.74%	–
SPB	New	SPECTRUM BRANDS HLDGS INC	$9,656,000	–	118,300	–	1.70%	–
MTB	New	M & T BK CORP	$9,579,000	–	56,297	–	1.69%	–
MSFT	New	MICROSOFT CORP	$9,368,000	–	95,000	–	1.65%	–
TAP	New	MOLSON COORS BREWING COcl b	$9,281,000	–	136,400	–	1.63%	–
NTR	New	NUTRIEN LTD	$8,966,000	–	164,868	–	1.58%	–
JNJ	New	JOHNSON & JOHNSON	$8,951,000	–	73,764	–	1.58%	–
GILD	New	GILEAD SCIENCES INC	$8,706,000	–	122,900	–	1.53%	–
PFE	New	PFIZER INC	$8,582,000	–	236,561	–	1.51%	–
HBI	New	HANESBRANDS INC	$7,399,000	–	336,000	–	1.30%	–
WRK	New	WESTROCK CO	$7,108,000	–	124,650	–	1.25%	–
MET	New	METLIFE INC	$6,945,000	–	159,300	–	1.22%	–
SYY	New	SYSCO CORP	$6,918,000	–	101,300	–	1.22%	–
DWDP	New	DOWDUPONT INC	$6,380,000	–	96,785	–	1.12%	–
AVGO	New	BROADCOM INC	$6,315,000	–	26,025	–	1.11%	–
KLIC	New	KULICKE & SOFFA INDS INC	$6,193,000	–	260,000	–	1.09%	–
EOG	New	EOG RES INC	$5,966,000	–	47,950	–	1.05%	–
NOV	New	NATIONAL OILWELL VARCO INC	$5,698,000	–	131,300	–	1.00%	–
ADNT	New	ADIENT PLC	$5,504,000	–	111,890	–	0.97%	–
MMM	New	3M CO	$5,285,000	–	26,865	–	0.93%	–
JEF	New	JEFFERIES FINL GROUP INC	$5,162,000	–	227,000	–	0.91%	–
PGR	New	PROGRESSIVE CORP OHIO	$5,093,000	–	86,100	–	0.90%	–
AFL	New	AFLAC INC	$5,025,000	–	116,800	–	0.88%	–
AJG	New	GALLAGHER ARTHUR J & CO	$4,903,000	–	75,100	–	0.86%	–
CCJ	New	CAMECO CORP	$4,628,000	–	411,400	–	0.82%	–
WPG	New	WASHINGTON PRIME GROUP NEW	$4,480,000	–	552,400	–	0.79%	–
HRG	New	HRG GROUP INC	$4,362,000	–	333,200	–	0.77%	–
SEE	New	SEALED AIR CORP NEW	$4,266,000	–	100,500	–	0.75%	–
KMB	New	KIMBERLY CLARK CORP	$4,224,000	–	40,100	–	0.74%	–
MGM	New	MGM RESORTS INTERNATIONAL	$4,044,000	–	139,300	–	0.71%	–
UTX	New	UNITED TECHNOLOGIES CORP	$4,040,000	–	32,310	–	0.71%	–
AXTA	New	AXALTA COATING SYS LTD	$4,040,000	–	133,300	–	0.71%	–
CHL	New	CHINA MOBILE LIMITEDsponsored adr	$3,995,000	–	90,000	–	0.70%	–
CYD	New	CHINA YUCHAI INTL LTD	$3,960,000	–	182,500	–	0.70%	–
FL	New	FOOT LOCKER INC	$3,838,000	–	72,900	–	0.68%	–
SLV	New	ISHARES SILVER TRUSTishares	$3,660,000	–	241,600	–	0.64%	–
MRK	New	MERCK & CO INC	$3,508,000	–	57,790	–	0.62%	–
AGR	New	AVANGRID INC	$3,317,000	–	62,664	–	0.58%	–
CAT	New	CATERPILLAR INC DEL	$3,199,000	–	23,580	–	0.56%	–
DE	New	DEERE & CO	$3,201,000	–	22,900	–	0.56%	–
TMUS	New	T MOBILE US INC	$3,071,000	–	51,400	–	0.54%	–
PM	New	PHILIP MORRIS INTL INC	$3,076,000	–	38,100	–	0.54%	–
VZ	New	VERIZON COMMUNICATIONS INC	$2,748,000	–	54,631	–	0.48%	–
WMT	New	WALMART INC	$2,697,000	–	31,486	–	0.48%	–
GE	New	GENERAL ELECTRIC CO	$2,560,000	–	188,101	–	0.45%	–
UNM	New	UNUM GROUP	$2,367,000	–	64,000	–	0.42%	–
OII	New	OCEANEERING INTL INC	$2,363,000	–	92,800	–	0.42%	–
OCSL	New	OAKTREE SPECIALTY LENDING CO	$2,294,000	–	479,860	–	0.40%	–
MNST	New	MONSTER BEVERAGE CORP NEW	$2,272,000	–	39,650	–	0.40%	–
LBTYK	New	LIBERTY GLOBAL PLC	$2,225,000	–	83,629	–	0.39%	–
GPRO	New	GOPRO INCcl a	$2,187,000	–	339,597	–	0.38%	–
BBBY	New	BED BATH & BEYOND INC	$2,106,000	–	105,700	–	0.37%	–
DHI	New	D R HORTON INC	$2,066,000	–	50,400	–	0.36%	–
AAPL	New	APPLE INC	$1,963,000	–	10,606	–	0.34%	–
CMI	New	CUMMINS INC	$1,929,000	–	14,500	–	0.34%	–
AMZN	New	AMAZON COM INC	$1,849,000	–	1,088	–	0.32%	–
IAU	New	ISHARES GOLD TRUSTishares	$1,798,000	–	149,600	–	0.32%	–
TAHO	New	TAHOE RES INC	$1,752,000	–	356,000	–	0.31%	–
BNS	New	BANK N S HALIFAX	$1,636,000	–	28,600	–	0.29%	–
VRTV	New	VERITIV CORP	$1,606,000	–	40,300	–	0.28%	–
WIW	New	WESTERN AST INFL LKD OPP & I	$1,584,000	–	142,100	–	0.28%	–
	New	LAYNE CHRISTENSEN COnote 4.250%11/1	$1,563,000	–	1,550,000	–	0.28%	–
USB	New	US BANCORP DEL	$1,506,000	–	30,100	–	0.26%	–
PCH	New	POTLATCHDELTIC CORPORATION	$1,475,000	–	29,000	–	0.26%	–
IVAC	New	INTEVAC INC	$1,424,000	–	293,646	–	0.25%	–
INTC	New	INTEL CORP	$1,407,000	–	28,296	–	0.25%	–
DFODQ	New	DEAN FOODS CO NEW	$1,377,000	–	131,000	–	0.24%	–
MYN	New	BLACKROCK MUNIYIELD NY QLTY	$1,373,000	–	114,600	–	0.24%	–
Y	New	ALLEGHANY CORP DEL	$1,372,000	–	2,386	–	0.24%	–
RY	New	ROYAL BK CDA MONTREAL QUE	$1,363,000	–	18,100	–	0.24%	–
XYL	New	XYLEM INC	$1,341,000	–	19,900	–	0.24%	–
DKS	New	DICKS SPORTING GOODS INC	$1,332,000	–	37,800	–	0.23%	–
ATR	New	APTARGROUP INC	$1,319,000	–	14,129	–	0.23%	–
GNTX	New	GENTEX CORP	$1,289,000	–	56,000	–	0.23%	–
UNP	New	UNION PAC CORP	$1,275,000	–	9,000	–	0.22%	–
PX	New	PRAXAIR INC	$1,265,000	–	8,000	–	0.22%	–
DRQ	New	DRIL-QUIP INC	$1,259,000	–	24,500	–	0.22%	–
NVS	New	NOVARTIS A Gsponsored adr	$1,197,000	–	15,848	–	0.21%	–
NLNK	New	NEWLINK GENETICS CORP	$1,173,000	–	246,340	–	0.21%	–
BIIB	New	BIOGEN INC	$1,132,000	–	3,900	–	0.20%	–
SNA	New	SNAP ON INC	$1,125,000	–	7,000	–	0.20%	–
AXP	New	AMERICAN EXPRESS CO	$1,073,000	–	10,953	–	0.19%	–
CERN	New	CERNER CORP	$1,076,000	–	18,000	–	0.19%	–
PG	New	PROCTER AND GAMBLE CO	$1,066,000	–	13,650	–	0.19%	–
CL	New	COLGATE PALMOLIVE CO	$1,050,000	–	16,200	–	0.18%	–
MHK	New	MOHAWK INDS INC	$1,037,000	–	4,840	–	0.18%	–
CGNX	New	COGNEX CORP	$1,026,000	–	23,000	–	0.18%	–
CRIS	New	CURIS INC	$1,010,000	–	583,750	–	0.18%	–
FTI	New	TECHNIPFMC PLC	$1,013,000	–	31,900	–	0.18%	–
GVA	New	GRANITE CONSTR INC	$980,000	–	17,604	–	0.17%	–
OLED	New	UNIVERSAL DISPLAY CORP	$860,000	–	10,000	–	0.15%	–
MO	New	ALTRIA GROUP INC	$852,000	–	15,000	–	0.15%	–
	New	GOPRO INCnote 3.500% 4/1	$835,000	–	900,000	–	0.15%	–
ARQL	New	ARQULE INC	$830,000	–	150,000	–	0.15%	–
MUR	New	MURPHY OIL CORP	$818,000	–	24,226	–	0.14%	–
PSLV	New	SPROTT PHYSICAL SILVER TRtr unit	$802,000	–	136,709	–	0.14%	–
LBTYA	New	LIBERTY GLOBAL PLC	$793,000	–	28,809	–	0.14%	–
DGICA	New	DONEGAL GROUP INCcl a	$781,000	–	57,386	–	0.14%	–
FB	New	FACEBOOK INCcl a	$738,000	–	3,800	–	0.13%	–
DIS	New	DISNEY WALT CO	$734,000	–	7,000	–	0.13%	–
CAG	New	CONAGRA BRANDS INC	$706,000	–	19,762	–	0.12%	–
CHTR	New	CHARTER COMMUNICATIONS INC Ncl a	$703,000	–	2,396	–	0.12%	–
ARDMQ	New	ARADIGM CORP	$695,000	–	479,477	–	0.12%	–
L	New	LOEWS CORP	$676,000	–	14,000	–	0.12%	–
TNK	New	TEEKAY TANKERS LTDcl a	$658,000	–	562,200	–	0.12%	–
LORL	New	LORAL SPACE & COMMUNICATNS I	$572,000	–	15,216	–	0.10%	–
GERN	New	GERON CORP	$531,000	–	154,700	–	0.09%	–
STZ	New	CONSTELLATION BRANDS INCcl a	$525,000	–	2,400	–	0.09%	–
WIA	New	WESTERN ASST INFLTN LKD INM	$465,000	–	40,726	–	0.08%	–
LW	New	LAMB WESTON HLDGS INC	$451,000	–	6,587	–	0.08%	–
NAT	New	NORDIC AMERICAN TANKERS LIMI	$445,000	–	166,000	–	0.08%	–
XOM	New	EXXON MOBIL CORP	$433,000	–	5,228	–	0.08%	–
GOOG	New	ALPHABET INCcap stk cl c	$380,000	–	341	–	0.07%	–
TEL	New	TE CONNECTIVITY LTD	$369,000	–	4,094	–	0.06%	–
JPM	New	JPMORGAN CHASE & CO	$356,000	–	3,412	–	0.06%	–
HON	New	HONEYWELL INTL INC	$328,000	–	2,275	–	0.06%	–
CSCO	New	CISCO SYS INC	$310,000	–	7,200	–	0.06%	–
LILAK	New	LIBERTY LATIN AMERICA LTD	$294,000	–	15,183	–	0.05%	–
MDLZ	New	MONDELEZ INTL INCcl a	$284,000	–	6,920	–	0.05%	–
GF	New	NEW GERMANY FD INC	$268,000	–	14,698	–	0.05%	–
MUSA	New	MURPHY USA INC	$262,000	–	3,531	–	0.05%	–
CTO	New	CONSOLIDATED TOMOKA LD CO	$246,000	–	4,000	–	0.04%	–
BK	New	BANK NEW YORK MELLON CORP	$216,000	–	4,000	–	0.04%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$215,000	–	1,150	–	0.04%	–
OXY	New	OCCIDENTAL PETE CORP DEL	$211,000	–	2,522	–	0.04%	–
INVE	New	IDENTIV INC	$157,000	–	40,500	–	0.03%	–
SIRI	New	SIRIUS XM HLDGS INC	$135,000	–	20,000	–	0.02%	–
LILA	New	LIBERTY LATIN AMERICA LTD	$106,000	–	5,538	–	0.02%	–
ABEV	New	AMBEV SAsponsored adr	$83,000	–	17,875	–	0.02%	–
GCVRZ	New	SANOFIright 12/31/2020	$73,000	–	146,402	–	0.01%	–

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