LOEWS CORP Activity Q4 1999-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
CNA	Buy	CNA FINL CORP	$9,775,119,940	+3.8%	248,414,738	+1.8%	96.98%	+0.1%
HBI	Buy	HANESBRANDS INC	$32,868,000	+64.5%	8,300,000	+88.6%	0.33%	+59.0%
BERY	Sell	BERRY GLOBAL GROUP INC	$25,135,460	-6.1%	406,000	-2.4%	0.25%	-9.5%
LYB	Buy	LYONDELLBASELL INDUSTRIES N	$20,834,000	+8.0%	220,000	+4.8%	0.21%	+4.5%
INGR	Sell	INGREDION INC	$17,712,000	-9.6%	180,000	-2.7%	0.18%	-12.9%
	Buy	APOLLO GLOBAL MGMT INC	$17,503,200	+23.2%	195,000	+5.4%	0.17%	+19.2%
APD	Sell	AIR PRODS & CHEMS INC	$17,004,000	-18.9%	60,000	-14.3%	0.17%	-21.8%
FB	Sell	META PLATFORMS INCcl a	$16,811,760	-2.4%	56,000	-6.7%	0.17%	-5.6%
LNG	Buy	CHENIERE ENERGY INC	$16,596,000	+14.7%	100,000	+5.3%	0.16%	+10.7%
BMY	Buy	BRISTOL-MYERS SQUIBB CO	$16,251,200	+18.2%	280,000	+30.2%	0.16%	+14.2%
HUM	Buy	HUMANA INC	$14,595,600	+226.4%	30,000	+200.0%	0.14%	+215.2%
GOOGL	Sell	ALPHABET INCcap stk cl a	$14,067,450	-6.0%	107,500	-14.0%	0.14%	-9.1%
ALLY	Buy	ALLY FINL INC	$11,472,400	+112.4%	430,000	+115.0%	0.11%	+103.6%
ORCL	New	ORACLE CORP	$10,856,800	–	102,500	–	0.11%	–
	Sell	ARDAGH METAL PACKAGING S A	$10,798,500	-33.2%	3,450,000	-19.8%	0.11%	-35.5%
OXY	New	OCCIDENTAL PETE CORP	$8,110,000	–	125,000	–	0.08%	–
ARES	New	ARES MANAGEMENT CORPORATION	$5,143,500	–	50,000	–	0.05%	–
GAU	Sell	GALIANO GOLD INC	$978,419	-25.5%	1,640,000	-24.6%	0.01%	-28.6%
PPTA	Sell	PERPETUA RESOURCES CORP	$278,257	-74.8%	85,355	-71.7%	0.00%	-72.7%
AEM	Exit	AGNICO EAGLE MINES LTD	$0	–	-22,900	–	-0.01%	–
GDX	Exit	VANECK ETF TRUSTgold miners etf	$0	–	-59,250	–	-0.02%	–
SII	Exit	SPROTT INC	$0	–	-56,393	–	-0.02%	–
	Exit	ORLA MNG LTD NEW	$0	–	-543,872	–	-0.02%	–
BTG	Exit	B2GOLD CORP	$0	–	-693,527	–	-0.02%	–
AMD	Exit	ADVANCED MICRO DEVICES INC	$0	–	-41,000	–	-0.05%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-200,000	–	-0.09%	–
FERG	Exit	FERGUSON PLC NEW	$0	–	-60,000	–	-0.10%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-21,500	–	-0.11%	–

Q2 2023

			Value		Shares		↓ Weighting
CNA	New	CNA FINL CORP	$9,421,684,531	–	243,958,688	–	96.87%	–
BERY	New	BERRY GLOBAL GROUP INC	$26,765,440	–	416,000	–	0.28%	–
APD	New	AIR PRODS & CHEMS INC	$20,967,100	–	70,000	–	0.22%	–
HBI	New	HANESBRANDS INC	$19,976,000	–	4,400,000	–	0.20%	–
INGR	New	INGREDION INC	$19,600,750	–	185,000	–	0.20%	–
LYB	New	LYONDELLBASELL INDUSTRIES N	$19,284,300	–	210,000	–	0.20%	–
HCA	New	HCA HEALTHCARE INC	$17,450,100	–	57,500	–	0.18%	–
FB	New	META PLATFORMS INCcl a	$17,218,800	–	60,000	–	0.18%	–
	New	ARDAGH METAL PACKAGING S A	$16,168,000	–	4,300,000	–	0.17%	–
GOOGL	New	ALPHABET INCcap stk cl a	$14,962,500	–	125,000	–	0.15%	–
LNG	New	CHENIERE ENERGY INC	$14,474,200	–	95,000	–	0.15%	–
	New	APOLLO GLOBAL MGMT INC	$14,209,850	–	185,000	–	0.15%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$13,749,250	–	215,000	–	0.14%	–
HBI	New	HANESBRANDS INCcall	$10,896,000	–	2,400,000	–	0.11%	–
UNH	New	UNITEDHEALTH GROUP INC	$10,333,760	–	21,500	–	0.11%	–
CMCSA	New	COMCAST CORP NEWcl a	$9,972,000	–	240,000	–	0.10%	–
FERG	New	FERGUSON PLC NEW	$9,438,600	–	60,000	–	0.10%	–
WFC	New	WELLS FARGO CO NEW	$8,536,000	–	200,000	–	0.09%	–
GM	New	GENERAL MTRS CO	$7,712,000	–	200,000	–	0.08%	–
ALLY	New	ALLY FINL INC	$5,402,000	–	200,000	–	0.06%	–
AMD	New	ADVANCED MICRO DEVICES INC	$4,670,310	–	41,000	–	0.05%	–
WDC	New	WESTERN DIGITAL CORP.	$4,551,600	–	120,000	–	0.05%	–
HUM	New	HUMANA INC	$4,471,300	–	10,000	–	0.05%	–
BTG	New	B2GOLD CORP	$2,473,139	–	693,527	–	0.02%	–
	New	ORLA MNG LTD NEW	$2,284,624	–	543,872	–	0.02%	–
SII	New	SPROTT INC	$1,827,361	–	56,393	–	0.02%	–
VGZ	New	VISTA GOLD CORP	$1,780,247	–	3,424,217	–	0.02%	–
GDX	New	VANECK ETF TRUSTgold miners etf	$1,784,018	–	59,250	–	0.02%	–
GAU	New	GALIANO GOLD INC	$1,314,119	–	2,174,210	–	0.01%	–
AEM	New	AGNICO EAGLE MINES LTD	$1,144,542	–	22,900	–	0.01%	–
PPTA	New	PERPETUA RESOURCES CORP	$1,105,287	–	301,168	–	0.01%	–

Q4 2022

			Value		Shares		↓ Weighting
WAB	Exit	WABTEC	$0	–	-16,113	–	-0.01%	–
MMX	Exit	MAVERIX METALS INC	$0	–	-445,972	–	-0.02%	–
GAU	Exit	GALIANO GOLD INC	$0	–	-3,228,506	–	-0.02%	–
VGZ	Exit	VISTA GOLD CORP	$0	–	-3,424,217	–	-0.02%	–
SILV	Exit	SILVERCREST METALS INC	$0	–	-339,155	–	-0.02%	–
PPTA	Exit	PERPETUA RESOURCES CORP	$0	–	-1,126,765	–	-0.02%	–
BTG	Exit	B2GOLD CORP	$0	–	-693,527	–	-0.02%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-30,000	–	-0.03%	–
SII	Exit	SPROTT INC	$0	–	-90,993	–	-0.03%	–
NEM	Exit	NEWMONT CORP	$0	–	-75,800	–	-0.03%	–
GDXJ	Exit	VANECK ETF TRUSTjunior gold mine	$0	–	-115,095	–	-0.04%	–
ADNT	Exit	ADIENT PLC	$0	–	-140,000	–	-0.04%	–
AEM	Exit	AGNICO EAGLE MINES LTD	$0	–	-98,500	–	-0.04%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-267,000	–	-0.04%	–
	Exit	ORLA MNG LTD NEW	$0	–	-1,324,695	–	-0.05%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-200,000	–	-0.06%	–
GDX	Exit	VANECK ETF TRUSTgold miners etf	$0	–	-250,000	–	-0.06%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES	$0	–	-90,000	–	-0.07%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-200,000	–	-0.09%	–
GPN	Exit	GLOBAL PMTS INC	$0	–	-75,000	–	-0.09%	–
ABBV	Exit	ABBVIE INC	$0	–	-70,000	–	-0.10%	–
SSNC	Exit	SS&C TECHNOLOGIES HLDGS INC	$0	–	-200,000	–	-0.10%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-370,000	–	-0.13%	–
HBI	Exit	HANESBRANDS INC	$0	–	-1,735,000	–	-0.13%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-170,000	–	-0.13%	–
DNB	Exit	DUN & BRADSTREET HLDGS INC	$0	–	-1,000,000	–	-0.13%	–
LNG	Exit	CHENIERE ENERGY INC	$0	–	-75,000	–	-0.13%	–
GM	Exit	GENERAL MTRS CO	$0	–	-500,000	–	-0.17%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-70,000	–	-0.17%	–
INGR	Exit	INGREDION INC	$0	–	-225,000	–	-0.19%	–
BERY	Exit	BERRY GLOBAL GROUP INC	$0	–	-466,000	–	-0.23%	–
	Exit	ARDAGH METAL PACKAGING S.A.	$0	–	-4,750,000	–	-0.24%	–
HCA	Exit	HCA HEALTHCARE INC	$0	–	-125,000	–	-0.24%	–
	Exit	GENERAL ELECTRIC CO	$0	–	-375,000	–	-0.25%	–
TWTR	Exit	TWITTER INC	$0	–	-825,000	–	-0.38%	–
FB	Exit	META PLATFORMS INCcl a	$0	–	-365,000	–	-0.53%	–
CNA	Exit	CNA FINL CORP	$0	–	-243,883,663	–	-95.91%	–

Q3 2022

			Value		Shares		↓ Weighting
CNA	Buy	CNA FINL CORP	$8,999,307,000	-17.6%	243,883,663	+0.3%	95.91%	-0.5%
FB	Buy	META PLATFORMS INCcl a	$49,523,000	+4.1%	365,000	+23.7%	0.53%	+25.7%
TWTR	New	TWITTER INC	$36,168,000	–	825,000	–	0.38%	–
HCA	Buy	HCA HEALTHCARE INC	$22,974,000	+13.9%	125,000	+4.2%	0.24%	+37.6%
	Buy	ARDAGH METAL PACKAGING S.A.	$22,990,000	-15.3%	4,750,000	+6.7%	0.24%	+2.1%
BERY	Buy	BERRY GLOBAL GROUP INC	$21,683,000	-9.8%	466,000	+5.9%	0.23%	+9.0%
INGR	Buy	INGREDION INC	$18,117,000	+20.9%	225,000	+32.4%	0.19%	+46.2%
APD	Buy	AIR PRODS & CHEMS INC	$16,291,000	+4.2%	70,000	+7.7%	0.17%	+26.1%
GM	Buy	GENERAL MTRS CO	$16,045,000	+17.5%	500,000	+16.3%	0.17%	+41.3%
LNG	New	CHENIERE ENERGY INC	$12,443,000	–	75,000	–	0.13%	–
DNB	Sell	DUN & BRADSTREET HLDGS INC	$12,390,000	-25.1%	1,000,000	-9.1%	0.13%	-9.6%
BMY	Sell	BRISTOL-MYERS SQUIBB CO	$12,085,000	-35.9%	170,000	-30.6%	0.13%	-22.8%
HBI	Buy	HANESBRANDS INC	$12,076,000	-28.2%	1,735,000	+6.1%	0.13%	-13.4%
WDC	Buy	WESTERN DIGITAL CORP	$12,044,000	-18.6%	370,000	+12.1%	0.13%	-2.3%
ABBV	Sell	ABBVIE INC	$9,395,000	-23.3%	70,000	-12.5%	0.10%	-7.4%
GPN	Sell	GLOBAL PMTS INC	$8,104,000	-55.6%	75,000	-54.5%	0.09%	-46.6%
LYB	Sell	LYONDELLBASELL INDUSTRIES	$6,775,000	-57.0%	90,000	-50.0%	0.07%	-48.2%
CMCSA	Buy	COMCAST CORP NEWcl a	$5,866,000	-16.9%	200,000	+11.1%	0.06%	+1.6%
	New	ORLA MNG LTD NEW	$4,321,000	–	1,324,695	–	0.05%	–
AEM	New	AGNICO EAGLE MINES LTD	$4,160,000	–	98,500	–	0.04%	–
GOLD	New	BARRICK GOLD CORP	$4,139,000	–	267,000	–	0.04%	–
GDXJ	New	VANECK ETF TRUSTjunior gold mine	$3,391,000	–	115,095	–	0.04%	–
NEM	New	NEWMONT CORP	$3,186,000	–	75,800	–	0.03%	–
GOOGL	Buy	ALPHABET INCcap stk cl a	$2,870,000	-70.7%	30,000	+566.7%	0.03%	-64.4%
SILV	Sell	SILVERCREST METALS INC	$1,881,000	-14.8%	339,155	-6.0%	0.02%	+5.3%
MMX	Buy	MAVERIX METALS INC	$1,494,000	-16.9%	445,972	+7.9%	0.02%	0.0%
OR	Exit	OSISKO GOLD ROYALTIES LTD	$0	–	-298,383	–	-0.03%	–
IHRT	Exit	IHEARTMEDIA INC	$0	–	-400,000	–	-0.03%	–
GSV	Exit	GOLD STD VENTURES CO	$0	–	-10,893,139	–	-0.03%	–
FERG	Exit	FERGUSON PLC NEW	$0	–	-75,000	–	-0.07%	–
CI	Exit	CIGNA CORP NEW	$0	–	-74,000	–	-0.17%	–

Q2 2022

			Value		Shares		↓ Weighting
CNA	New	CNA FINL CORP	$10,920,318,000	–	243,214,203	–	96.44%	–
FB	New	META PLATFORMS INCcl a	$47,569,000	–	295,000	–	0.42%	–
	New	ARDAGH METAL PACKAGING S.A.	$27,145,000	–	4,450,000	–	0.24%	–
BERY	New	BERRY GLOBAL GROUP INC	$24,042,000	–	440,000	–	0.21%	–
	New	GENERAL ELECTRIC CO	$23,876,000	–	375,000	–	0.21%	–
HCA	New	HCA HEALTHCARE INC	$20,167,000	–	120,000	–	0.18%	–
CI	New	CIGNA CORP NEW	$19,500,000	–	74,000	–	0.17%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$18,865,000	–	245,000	–	0.17%	–
GPN	New	GLOBAL PMTS INC	$18,256,000	–	165,000	–	0.16%	–
HBI	New	HANESBRANDS INC	$16,824,000	–	1,635,000	–	0.15%	–
DNB	New	DUN & BRADSTREET HLDGS INC	$16,533,000	–	1,100,000	–	0.15%	–
LYB	New	LYONDELLBASELL INDUSTRIES	$15,743,000	–	180,000	–	0.14%	–
APD	New	AIR PRODS & CHEMS INC	$15,631,000	–	65,000	–	0.14%	–
INGR	New	INGREDION INC	$14,987,000	–	170,000	–	0.13%	–
WDC	New	WESTERN DIGITAL CORP	$14,794,000	–	330,000	–	0.13%	–
GM	New	GENERAL MTRS CO	$13,657,000	–	430,000	–	0.12%	–
ABBV	New	ABBVIE INC	$12,253,000	–	80,000	–	0.11%	–
SSNC	New	SS&C TECHNOLOGIES HLDGS INC	$11,614,000	–	200,000	–	0.10%	–
GOOGL	New	ALPHABET INCcap stk cl a	$9,807,000	–	4,500	–	0.09%	–
FERG	New	FERGUSON PLC NEW	$8,303,000	–	75,000	–	0.07%	–
WFC	New	WELLS FARGO CO NEW	$7,834,000	–	200,000	–	0.07%	–
CMCSA	New	COMCAST CORP NEWcl a	$7,063,000	–	180,000	–	0.06%	–
GDX	New	VANECK ETF TRUSTgold miners etf	$6,845,000	–	250,000	–	0.06%	–
ADNT	New	ADIENT PLC	$4,148,000	–	140,000	–	0.04%	–
PPTA	New	PERPETUA RESOURCES CORP	$3,712,000	–	1,126,765	–	0.03%	–
GSV	New	GOLD STD VENTURES CO	$3,470,000	–	10,893,139	–	0.03%	–
SII	New	SPROTT INC	$3,161,000	–	90,993	–	0.03%	–
IHRT	New	IHEARTMEDIA INC	$3,156,000	–	400,000	–	0.03%	–
OR	New	OSISKO GOLD ROYALTIES LTD	$3,009,000	–	298,383	–	0.03%	–
VGZ	New	VISTA GOLD CORP	$2,328,000	–	3,424,217	–	0.02%	–
BTG	New	B2GOLD CORP	$2,349,000	–	693,527	–	0.02%	–
SILV	New	SILVERCREST METALS INC	$2,207,000	–	360,972	–	0.02%	–
MMX	New	MAVERIX METALS INC	$1,798,000	–	413,348	–	0.02%	–
WAB	New	WABTEC	$1,323,000	–	16,113	–	0.01%	–
GAU	New	GALIANO GOLD INC	$1,329,000	–	3,228,506	–	0.01%	–

Q4 2021

			Value		Shares		↓ Weighting
ETWO	Exit	E2OPEN PARENT HOLDINGS INC	$0	–	-11,623	–	-0.00%	–
ASGN	Exit	ASGN INC	$0	–	-2,261	–	-0.00%	–
IBP	Exit	INSTALLED BLDG PRODS INC	$0	–	-2,252	–	-0.00%	–
DRVN	Exit	DRIVEN BRANDS HLDGS INC	$0	–	-7,600	–	-0.00%	–
VRT	Exit	VERTIV HOLDINGS CO	$0	–	-10,152	–	-0.00%	–
GWRE	Exit	GUIDEWIRE SOFTWARE INC	$0	–	-1,723	–	-0.00%	–
JBT	Exit	JOHN BEAN TECHNOLOGIES CORP	$0	–	-1,771	–	-0.00%	–
IAG	Exit	IAMGOLD CORP	$0	–	-79,000	–	-0.00%	–
FND	Exit	FLOOR & DECOR HLDGS INCcl a	$0	–	-2,910	–	-0.00%	–
ICLR	Exit	ICON PLC	$0	–	-1,134	–	-0.00%	–
SITE	Exit	SITEONE LANDSCAPE SUPPLY INC	$0	–	-1,819	–	-0.00%	–
GTLS	Exit	CHART INDS INC	$0	–	-1,932	–	-0.00%	–
IT	Exit	GARTNER INC	$0	–	-1,321	–	-0.00%	–
WAB	Exit	WABTEC	$0	–	-16,113	–	-0.01%	–
SILV	Exit	SILVERCREST METALS INC	$0	–	-216,510	–	-0.01%	–
SSRM	Exit	SSR MNG INC	$0	–	-114,689	–	-0.02%	–
AMC	Exit	AMC ENTMT HLDGS INCput	$0	–	-50,000	–	-0.02%	–
GAU	Exit	GALIANO GOLD INC	$0	–	-3,228,506	–	-0.02%	–
BTG	Exit	B2GOLD CORP	$0	–	-693,527	–	-0.02%	–
VGZ	Exit	VISTA GOLD CORP	$0	–	-3,424,217	–	-0.02%	–
GSV	Exit	GOLD STD VENTURES CO	$0	–	-6,998,336	–	-0.03%	–
PVG	Exit	PRETIUM RES INC	$0	–	-338,332	–	-0.03%	–
SII	Exit	SPROTT INC	$0	–	-90,993	–	-0.03%	–
CSGP	Exit	COSTAR GROUP INC	$0	–	-55,000	–	-0.04%	–
OR	Exit	OSISKO GOLD ROYALTIES LTD	$0	–	-461,782	–	-0.05%	–
PPTA	Exit	PERPETUA RESOURCES CORP	$0	–	-1,083,496	–	-0.05%	–
ADNT	Exit	ADIENT PLC	$0	–	-155,000	–	-0.06%	–
KL	Exit	KIRKLAND LAKE GOLD LTD	$0	–	-160,900	–	-0.06%	–
	Exit	TMC THE METALS COMPANY INC	$0	–	-1,543,816	–	-0.07%	–
NOC	Exit	NORTHROP GRUMMAN CORP	$0	–	-20,000	–	-0.07%	–
AGI	Exit	ALAMOS GOLD INC NEW	$0	–	-1,014,364	–	-0.07%	–
CMAX	Exit	CAREMAX INC	$0	–	-800,000	–	-0.07%	–
J	Exit	JACOBS ENGR GROUP INC	$0	–	-65,000	–	-0.08%	–
DSGX	Exit	DESCARTES SYS GROUP INC	$0	–	-110,000	–	-0.08%	–
GM	Exit	GENERAL MTRS CO	$0	–	-170,000	–	-0.08%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-55,000	–	-0.08%	–
PGR	Exit	PROGRESSIVE CORP	$0	–	-110,000	–	-0.09%	–
KEYS	Exit	KEYSIGHT TECHNOLOGIES INC	$0	–	-60,000	–	-0.09%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES	$0	–	-115,000	–	-0.10%	–
SSNC	Exit	SS&C TECHNOLOGIES HLDGS INC	$0	–	-160,000	–	-0.10%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-200,000	–	-0.10%	–
CSCO	Exit	CISCO SYS INC	$0	–	-224,500	–	-0.11%	–
CME	Exit	CME GROUP INC	$0	–	-65,000	–	-0.12%	–
PFE	Exit	PFIZER INC	$0	–	-300,000	–	-0.12%	–
LEA	Exit	LEAR CORP	$0	–	-85,000	–	-0.12%	–
INGR	Exit	INGREDION INC	$0	–	-150,000	–	-0.12%	–
TDY	Exit	TELEDYNE TECHNOLOGIES INC	$0	–	-33,000	–	-0.13%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-44,000	–	-0.14%	–
FISV	Exit	FISERV INC	$0	–	-140,000	–	-0.14%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-70,000	–	-0.17%	–
DNB	Exit	DUN & BRADSTREET HLDGS INC	$0	–	-1,127,000	–	-0.18%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-7,700	–	-0.19%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-350,000	–	-0.19%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-370,000	–	-0.19%	–
CI	Exit	CIGNA CORP NEW	$0	–	-105,000	–	-0.20%	–
BERY	Exit	BERRY GLOBAL GROUP INC	$0	–	-346,050	–	-0.20%	–
ABBV	Exit	ABBVIE INC	$0	–	-200,000	–	-0.20%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-270,000	–	-0.21%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-570,000	–	-0.25%	–
	Exit	ARDAGH METAL PACKAGING S.A.	$0	–	-3,156,262	–	-0.29%	–
	Exit	GENERAL ELECTRIC CO	$0	–	-375,000	–	-0.36%	–
CNA	Exit	CNA FINL CORP	$0	–	-243,214,203	–	-94.76%	–

Q3 2021

			Value		Shares		↓ Weighting
	New	GENERAL ELECTRIC CO	$38,636,000	–	375,000	–	0.36%	–
	New	ARDAGH METAL PACKAGING S.A.	$31,436,000	–	3,156,262	–	0.29%	–
WFC	Buy	WELLS FARGO CO NEW	$26,454,000	+9.2%	570,000	+6.5%	0.25%	+18.3%
CVS	Sell	CVS HEALTH CORP	$22,912,000	-1.9%	270,000	-3.6%	0.21%	+6.0%
ABBV	Buy	ABBVIE INC	$21,574,000	+19.7%	200,000	+25.0%	0.20%	+29.0%
BERY	Sell	BERRY GLOBAL GROUP INC	$21,068,000	-15.2%	346,050	-9.2%	0.20%	-8.4%
CI	Buy	CIGNA CORP NEW	$21,017,000	+18.2%	105,000	+40.0%	0.20%	+27.5%
BMY	Buy	BRISTOL-MYERS SQUIBB CO	$20,710,000	-6.1%	350,000	+6.1%	0.19%	+1.6%
CMCSA	Sell	COMCAST CORP NEWcl a	$20,694,000	-4.5%	370,000	-2.6%	0.19%	+3.2%
GOOGL	Sell	ALPHABET INCcap stk cl a	$20,586,000	-0.8%	7,700	-9.4%	0.19%	+7.3%
DNB	Buy	DUN & BRADSTREET HLDGS INC	$18,945,000	-11.3%	1,127,000	+12.7%	0.18%	-4.3%
APD	Buy	AIR PRODS & CHEMS INC	$17,928,000	-4.1%	70,000	+7.7%	0.17%	+3.1%
FB	Sell	FACEBOOK INCcl a	$14,933,000	-19.0%	44,000	-17.0%	0.14%	-12.0%
INGR	Buy	INGREDION INC	$13,352,000	+9.3%	150,000	+11.1%	0.12%	+18.1%
LEA	New	LEAR CORP	$13,301,000	–	85,000	–	0.12%	–
PFE	New	PFIZER INC	$12,903,000	–	300,000	–	0.12%	–
CME	Sell	CME GROUP INC	$12,570,000	-21.2%	65,000	-13.3%	0.12%	-14.6%
WDC	Buy	WESTERN DIGITAL CORP	$11,288,000	-11.9%	200,000	+11.1%	0.10%	-4.5%
LYB	Buy	LYONDELLBASELL INDUSTRIES	$10,793,000	+23.4%	115,000	+35.3%	0.10%	+33.3%
KEYS	Sell	KEYSIGHT TECHNOLOGIES INC	$9,857,000	-5.4%	60,000	-11.1%	0.09%	+2.2%
PGR	Sell	PROGRESSIVE CORP	$9,943,000	-15.6%	110,000	-8.3%	0.09%	-8.9%
JPM	Sell	JPMORGAN CHASE & CO	$9,003,000	-14.2%	55,000	-18.5%	0.08%	-6.7%
J	Sell	JACOBS ENGR GROUP INC	$8,614,000	-13.9%	65,000	-13.3%	0.08%	-7.0%
CMAX	Sell	CAREMAX INC	$7,728,000	-22.7%	800,000	-20.0%	0.07%	-16.3%
	New	TMC THE METALS COMPANY INC	$7,055,000	–	1,543,816	–	0.07%	–
ADNT	New	ADIENT PLC	$6,425,000	–	155,000	–	0.06%	–
CSGP	New	COSTAR GROUP INC	$4,733,000	–	55,000	–	0.04%	–
PVG	Sell	PRETIUM RES INC	$3,269,000	-54.0%	338,332	-54.4%	0.03%	-50.8%
VGZ	Buy	VISTA GOLD CORP	$2,481,000	-37.0%	3,424,217	+6.9%	0.02%	-32.4%
AMC	Sell	AMC ENTMT HLDGS INCput	$1,903,000	-77.6%	50,000	-66.7%	0.02%	-75.3%
FND	Sell	FLOOR & DECOR HLDGS INCcl a	$351,000	+3.5%	2,910	-9.2%	0.00%	0.0%
SITE	Sell	SITEONE LANDSCAPE SUPPLY INC	$363,000	+5.2%	1,819	-10.7%	0.00%	0.0%
GTLS	Buy	CHART INDS INC	$369,000	+32.3%	1,932	+1.4%	0.00%	+50.0%
ICLR	New	ICON PLC	$297,000	–	1,134	–	0.00%	–
JBT	Buy	JOHN BEAN TECHNOLOGIES CORP	$249,000	-0.8%	1,771	+0.7%	0.00%	0.0%
IBP	Sell	INSTALLED BLDG PRODS INC	$241,000	-36.4%	2,252	-27.4%	0.00%	-33.3%
GWRE	New	GUIDEWIRE SOFTWARE INC	$205,000	–	1,723	–	0.00%	–
VRT	Sell	VERTIV HOLDINGS CO	$245,000	-19.7%	10,152	-9.3%	0.00%	-33.3%
DRVN	Buy	DRIVEN BRANDS HLDGS INC	$220,000	+6.8%	7,600	+14.1%	0.00%	0.0%
LTRPA	Exit	LIBERTY TRIPADVISOR	$0	–	-17,653	–	-0.00%	–
GME	Exit	GAMESTOP CORPput	$0	–	-25,000	–	-0.05%	–
CRWD	Exit	CROWDSTRIKE HLDGS INCcl a	$0	–	-52,500	–	-0.11%	–
GRSV	Exit	GORES HLDGS V INC	$0	–	-3,404,000	–	-0.30%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-3,000,000	–	-0.35%	–

Q2 2021

			Value		Shares		↓ Weighting
CNA	New	CNA FINL CORP	$11,063,814,000	–	243,214,203	–	95.07%	–
GE	New	GENERAL ELECTRIC CO	$40,380,000	–	3,000,000	–	0.35%	–
GRSV	New	GORES HLDGS V INC	$34,380,000	–	3,404,000	–	0.30%	–
BERY	New	BERRY GLOBAL GROUP I	$24,852,000	–	381,050	–	0.21%	–
WFC	New	WELLS FARGO CO NEW	$24,230,000	–	535,000	–	0.21%	–
CVS	New	CVS HEALTH CORP	$23,363,000	–	280,000	–	0.20%	–
BMY	New	BRISTOL-MYERS SQUIBB	$22,051,000	–	330,000	–	0.19%	–
CMCSA	New	COMCAST CORP NEWcl a	$21,668,000	–	380,000	–	0.19%	–
DNB	New	DUN & BRADSTREET HLDGS	$21,370,000	–	1,000,000	–	0.18%	–
GOOGL	New	ALPHABET INCcap stk cl a	$20,755,000	–	8,500	–	0.18%	–
APD	New	AIR PRODS & CHEMS IN	$18,699,000	–	65,000	–	0.16%	–
FB	New	FACEBOOK INCcl a	$18,429,000	–	53,000	–	0.16%	–
ABBV	New	ABBVIE INC	$18,022,000	–	160,000	–	0.16%	–
CI	New	CIGNA CORP NEW	$17,780,000	–	75,000	–	0.15%	–
CME	New	CME GROUP INC	$15,951,000	–	75,000	–	0.14%	–
FISV	New	FISERV INC	$14,965,000	–	140,000	–	0.13%	–
TDY	New	TELEDYNE TECHNOLOGIES	$13,821,000	–	33,000	–	0.12%	–
CRWD	New	CROWDSTRIKE HLDGS INCcl a	$13,194,000	–	52,500	–	0.11%	–
WDC	New	WESTERN DIGITAL CORP	$12,811,000	–	180,000	–	0.11%	–
INGR	New	INGREDION INC	$12,218,000	–	135,000	–	0.10%	–
CSCO	New	CISCO SYS INC	$11,899,000	–	224,500	–	0.10%	–
PGR	New	PROGRESSIVE CORP	$11,785,000	–	120,000	–	0.10%	–
SSNC	New	SS&C TECHNOLOGIES	$11,530,000	–	160,000	–	0.10%	–
KEYS	New	KEYSIGHT TECHNOLOGIES	$10,423,000	–	67,500	–	0.09%	–
JPM	New	JPMORGAN CHASE & CO	$10,499,000	–	67,500	–	0.09%	–
CMAX	New	CAREMAX CL A ORDcl a	$10,000,000	–	1,000,000	–	0.09%	–
GM	New	GENERAL MTRS CO	$10,059,000	–	170,000	–	0.09%	–
J	New	JACOBS ENGR GROUP INC	$10,007,000	–	75,000	–	0.09%	–
LYB	New	LYONDELLBASELL IND	$8,744,000	–	85,000	–	0.08%	–
AMC	New	AMC ENTMT HLDGS INCput	$8,502,000	–	150,000	–	0.07%	–
PPTA	New	PERPETUA RESOURCES CORP	$7,938,000	–	1,083,496	–	0.07%	–
AGI	New	ALAMOS GOLD INC NEW	$7,751,000	–	1,014,364	–	0.07%	–
DSGX	New	DESCARTES SYS GROUP	$7,608,000	–	110,000	–	0.06%	–
NOC	New	NORTHROP GRUMMAN CORP	$7,269,000	–	20,000	–	0.06%	–
PVG	New	PRETIUM RES INC	$7,106,000	–	742,600	–	0.06%	–
OR	New	OSISKO GOLD ROYALTIE	$6,330,000	–	461,782	–	0.05%	–
KL	New	KIRKLAND LAKE GOLD	$6,199,000	–	160,900	–	0.05%	–
GME	New	GAMESTOP CORPput	$5,354,000	–	25,000	–	0.05%	–
GSV	New	GOLD STD VENTURES CO	$4,009,000	–	6,998,336	–	0.03%	–
VGZ	New	VISTA GOLD CORP	$3,940,000	–	3,203,217	–	0.03%	–
SII	New	SPROTT INC	$3,582,000	–	90,993	–	0.03%	–
GAU	New	GALIANO GOLD INC	$3,543,000	–	3,228,506	–	0.03%	–
BTG	New	B2GOLD CORP	$2,910,000	–	693,527	–	0.02%	–
SILV	New	SILVERCREST METALS INC	$1,897,000	–	216,510	–	0.02%	–
SSRM	New	SSR MNG INC	$1,788,000	–	114,689	–	0.02%	–
WAB	New	WABTEC	$1,326,000	–	16,113	–	0.01%	–
IBP	New	INSTALLED BLDG PRODS	$379,000	–	3,101	–	0.00%	–
IT	New	GARTNER INC	$320,000	–	1,321	–	0.00%	–
SITE	New	SITEONE LANDSCAPE	$345,000	–	2,038	–	0.00%	–
FND	New	FLOOR & DECOR HLDGScl a	$339,000	–	3,204	–	0.00%	–
VRT	New	VERTIV HOLDINGS CO	$305,000	–	11,188	–	0.00%	–
GTLS	New	CHART INDS INC	$279,000	–	1,906	–	0.00%	–
IAG	New	IAMGOLD CORP	$233,000	–	79,000	–	0.00%	–
JBT	New	JOHN BEAN TECHNOLOGIES	$251,000	–	1,759	–	0.00%	–
ASGN	New	ASGN INC	$219,000	–	2,261	–	0.00%	–
DRVN	New	DRIVEN BRANDS HLDGS	$206,000	–	6,661	–	0.00%	–
ETWO	New	E2OPEN PARENT HOLDINGS	$133,000	–	11,623	–	0.00%	–
LTRPA	New	LIBERTY TRIPADVISOR	$72,000	–	17,653	–	0.00%	–

Q4 2020

			Value		Shares		↓ Weighting
WAB	Exit	WABTEC	$0	–	-16,113	–	-0.01%	–
SSRM	Exit	SSR MNG INC	$0	–	-114,689	–	-0.03%	–
GSV	Exit	GOLD STD VENTURES	$0	–	-3,081,512	–	-0.03%	–
SII	Exit	SPROTT INC	$0	–	-90,993	–	-0.04%	–
VGZ	Exit	VISTA GOLD CORP	$0	–	-3,203,217	–	-0.05%	–
LKQ	Exit	LKQ CORP	$0	–	-130,000	–	-0.05%	–
PVG	Exit	PRETIUM RES INC	$0	–	-339,863	–	-0.06%	–
GAU	Exit	GALIANO GOLD INC	$0	–	-3,228,506	–	-0.06%	–
BTG	Exit	B2GOLD CORP	$0	–	-693,527	–	-0.06%	–
CME	Exit	CME GROUP INC	$0	–	-30,000	–	-0.07%	–
OR	Exit	OSISKO GOLD ROYALTIES	$0	–	-461,782	–	-0.07%	–
GM	Exit	GENERAL MTRS	$0	–	-230,000	–	-0.09%	–
KEYS	Exit	KEYSIGHT TECHNOLOGIES	$0	–	-70,000	–	-0.09%	–
KL	Exit	KIRKLAND LAKE GOLD	$0	–	-160,900	–	-0.10%	–
J	Exit	JACOBS ENGR GROUP INC	$0	–	-90,000	–	-0.11%	–
AGI	Exit	ALAMOS GOLD INC	$0	–	-1,014,364	–	-0.12%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-35,000	–	-0.12%	–
INGR	Exit	INGREDION INC	$0	–	-145,000	–	-0.14%	–
WFC	Exit	WELLS FARGO CO	$0	–	-465,000	–	-0.14%	–
ABBV	Exit	ABBVIE INC	$0	–	-125,000	–	-0.14%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-115,000	–	-0.14%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-40,000	–	-0.16%	–
MPC	Exit	MARATHON PETE CORP	$0	–	-410,000	–	-0.16%	–
PGR	Exit	PROGRESSIVE CORP	$0	–	-129,000	–	-0.16%	–
SSNC	Exit	SS&C TECHNOLOGIES	$0	–	-215,000	–	-0.17%	–
CSCO	Exit	CISCO SYS INC	$0	–	-339,500	–	-0.18%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-9,500	–	-0.18%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-240,000	–	-0.18%	–
HCA	Exit	HCA HEALTHCARE INC	$0	–	-115,000	–	-0.19%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES	$0	–	-220,000	–	-0.20%	–
CI	Exit	CIGNA CORP	$0	–	-95,000	–	-0.21%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-270,000	–	-0.21%	–
BERY	Exit	BERRY GLOBAL GROUP	$0	–	-353,000	–	-0.22%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-500,000	–	-0.24%	–
CMCSA	Exit	COMCAST CORPcl a	$0	–	-400,000	–	-0.24%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-3,000,000	–	-0.24%	–
CNA	Exit	CNA FINL CORP	$0	–	-243,214,203	–	-95.34%	–

Q3 2020

			Value		Shares		↓ Weighting
CMCSA	Sell	COMCAST CORPcl a	$18,504,000	+10.4%	400,000	-7.0%	0.24%	+18.0%
WDC	Buy	WESTERN DIGITAL CORP	$18,275,000	+28.9%	500,000	+55.6%	0.24%	+38.2%
BERY	Sell	BERRY GLOBAL GROUP	$17,057,000	+8.4%	353,000	-0.6%	0.22%	+16.1%
BMY	Sell	BRISTOL-MYERS SQUIBB	$16,278,000	-2.9%	270,000	-5.3%	0.21%	+3.9%
CI	Buy	CIGNA CORP	$16,094,000	+14.4%	95,000	+26.7%	0.21%	+22.1%
LYB	Sell	LYONDELLBASELL INDUSTRIES	$15,508,000	-1.7%	220,000	-8.3%	0.20%	+5.2%
HCA	Sell	HCA HEALTHCARE INC	$14,338,000	+18.2%	115,000	-8.0%	0.19%	+26.4%
CVS	Sell	CVS HEALTH CORP	$14,016,000	-13.7%	240,000	-4.0%	0.18%	-7.6%
GOOGL	Buy	ALPHABET INCcap stk cl a	$13,923,000	+9.1%	9,500	+5.6%	0.18%	+16.7%
CSCO	Sell	CISCO SYS INC	$13,373,000	-20.4%	339,500	-5.7%	0.18%	-14.6%
SSNC	Sell	SS&C TECHNOLOGIES	$13,012,000	-2.0%	215,000	-8.5%	0.17%	+4.9%
PGR	Sell	PROGRESSIVE CORP	$12,212,000	+1.6%	129,000	-14.0%	0.16%	+8.8%
MPC	Sell	MARATHON PETE CORP	$12,029,000	-26.9%	410,000	-6.8%	0.16%	-21.9%
JPM	Buy	JPMORGAN CHASE & CO	$11,071,000	+56.9%	115,000	+53.3%	0.14%	+68.6%
ABBV	Sell	ABBVIE INC	$10,949,000	-17.4%	125,000	-7.4%	0.14%	-11.7%
INGR	Buy	INGREDION INC	$10,974,000	+15.0%	145,000	+26.1%	0.14%	+22.2%
WFC	Buy	WELLS FARGO CO	$10,932,000	+5.4%	465,000	+14.8%	0.14%	+12.6%
AGI	Sell	ALAMOS GOLD INC	$8,933,000	-15.7%	1,014,364	-10.7%	0.12%	-9.3%
J	Buy	JACOBS ENGR GROUP INC	$8,349,000	+11.9%	90,000	+2.3%	0.11%	+19.8%
KEYS	New	KEYSIGHT TECHNOLOGIES	$6,915,000	–	70,000	–	0.09%	–
CME	New	CME GROUP INC	$5,019,000	–	30,000	–	0.07%	–
PVG	Buy	PRETIUM RES INC	$4,348,000	+182.2%	339,863	+84.6%	0.06%	+200.0%
SII	Sell	SPROTT INC	$3,105,000	-25.6%	90,993	-21.6%	0.04%	-19.6%
GSV	New	GOLD STD VENTURES	$2,429,000	–	3,081,512	–	0.03%	–
SSRM	New	SSR MNG INC	$2,141,000	–	114,689	–	0.03%	–
ALO	Exit	ALIO GOLD INC	$0	–	-130,891	–	-0.00%	–
LOW	Exit	LOWES COS INC	$0	–	-30,000	–	-0.05%	–
FLEX	Exit	FLEX LTDord	$0	–	-400,000	–	-0.05%	–
CTSH	Exit	COGNIZANT TECHNOLOGYcl a	$0	–	-79,000	–	-0.06%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-30,000	–	-0.08%	–
SWK	Exit	STANLEY BLACK & DECKER	$0	–	-63,000	–	-0.11%	–
DOFSQ	Exit	DIAMOND OFFSHORE	$0	–	-73,119,047	–	-0.23%	–

Q2 2020

			Value		Shares		↓ Weighting
CNA	New	CNA FINL CORP	$7,819,337,000	–	243,214,203	–	95.44%	–
GE	New	GENERAL ELECTRIC CO	$20,490,000	–	3,000,000	–	0.25%	–
DOFSQ	New	DIAMOND OFFSHORE	$18,697,000	–	73,119,047	–	0.23%	–
CSCO	New	CISCO SYS INC	$16,790,000	–	360,000	–	0.20%	–
BMY	New	BRISTOL-MYERS SQUIBB	$16,758,000	–	285,000	–	0.20%	–
CMCSA	New	COMCAST CORP NEWcl a	$16,761,000	–	430,000	–	0.20%	–
MPC	New	MARATHON PETE CORP	$16,447,000	–	440,000	–	0.20%	–
CVS	New	CVS HEALTH CORP	$16,243,000	–	250,000	–	0.20%	–
LYB	New	LYONDELLBASELL INDUS	$15,773,000	–	240,000	–	0.19%	–
BERY	New	BERRY GLOBAL GROUP	$15,734,000	–	355,000	–	0.19%	–
WDC	New	WESTERN DIGITAL CORP	$14,183,000	–	321,250	–	0.17%	–
CI	New	CIGNA CORP NEW	$14,074,000	–	75,000	–	0.17%	–
ABBV	New	ABBVIE INC	$13,254,000	–	135,000	–	0.16%	–
SSNC	New	SS&C TECHNOLOGIES	$13,273,000	–	235,000	–	0.16%	–
GOOGL	New	ALPHABET INCcap stk cl a	$12,762,000	–	9,000	–	0.16%	–
HCA	New	HCA HEALTHCARE INC	$12,133,000	–	125,000	–	0.15%	–
PGR	New	PROGRESSIVE CORP OHIO	$12,017,000	–	150,000	–	0.15%	–
AGI	New	ALAMOS GOLD INC NEW	$10,591,000	–	1,135,516	–	0.13%	–
WFC	New	WELLS FARGO CO	$10,368,000	–	405,000	–	0.13%	–
APD	New	AIR PRODS & CHEMS INC	$9,658,000	–	40,000	–	0.12%	–
INGR	New	INGREDION INC	$9,545,000	–	115,000	–	0.12%	–
SWK	New	STANLEY BLACK & DECKER	$8,781,000	–	63,000	–	0.11%	–
FB	New	FACEBOOK INCcl a	$7,947,000	–	35,000	–	0.10%	–
J	New	JACOBS ENGR GROUP INC	$7,462,000	–	88,000	–	0.09%	–
JPM	New	JPMORGAN CHASE & CO	$7,055,000	–	75,000	–	0.09%	–
KL	New	KIRKLAND LAKE GOLD	$6,636,000	–	160,900	–	0.08%	–
MSFT	New	MICROSOFT CORP	$6,105,000	–	30,000	–	0.08%	–
GM	New	GENERAL MTRS CO	$5,819,000	–	230,000	–	0.07%	–
OR	New	OSISKO GOLD ROYALTIES	$4,613,000	–	461,782	–	0.06%	–
CTSH	New	COGNIZANT TECHNOLOGYcl a	$4,489,000	–	79,000	–	0.06%	–
GAU	New	GALIANO GOLD INC	$4,282,000	–	3,228,506	–	0.05%	–
SII	New	SPROTT INC	$4,172,000	–	116,062	–	0.05%	–
FLEX	New	FLEX LTDord	$4,100,000	–	400,000	–	0.05%	–
LOW	New	LOWES COS INC	$4,054,000	–	30,000	–	0.05%	–
BTG	New	B2GOLD CORP	$3,945,000	–	693,527	–	0.05%	–
LKQ	New	LKQ CORP	$3,406,000	–	130,000	–	0.04%	–
VGZ	New	VISTA GOLD CORP	$2,691,000	–	3,203,217	–	0.03%	–
PVG	New	PRETIUM RES INC	$1,541,000	–	184,066	–	0.02%	–
WAB	New	WABTEC	$928,000	–	16,113	–	0.01%	–
ALO	New	ALIO GOLD INC	$165,000	–	130,891	–	0.00%	–

Q4 2019

			Value		Shares		↓ Weighting
CHK	Exit	CHESAPEAKE ENERGY CO	$0	–	-28,114	–	0.00%	–
TNK	Exit	TEEKAY TANKERS LTD	$0	–	-14,613	–	0.00%	–
FCEL	Exit	FUELCELL ENERGY INC	$0	–	-19,808	–	0.00%	–
PBI	Exit	PITNEY BOWES INC	$0	–	-28,258	–	-0.00%	–
ALO	Exit	ALIO GOLD INC	$0	–	-130,891	–	-0.00%	–
BKD	Exit	BROOKDALE SR LIVING	$0	–	-13,377	–	-0.00%	–
CVE	Exit	CENOVUS ENERGY INC	$0	–	-14,675	–	-0.00%	–
MET	Exit	METLIFE INC	$0	–	-4,513	–	-0.00%	–
LHX	Exit	L3HARRIS TECHNOLOGIE	$0	–	-1,200	–	-0.00%	–
NOV	Exit	NATIONAL OILWELL VAR	$0	–	-11,872	–	-0.00%	–
NWL	Exit	NEWELL BRANDS INC	$0	–	-12,301	–	-0.00%	–
AIG	Exit	AMERICAN INTL GROUP	$0	–	-5,237	–	-0.00%	–
F	Exit	FORD MTR CO DEL	$0	–	-21,593	–	-0.00%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-1,750	–	-0.00%	–
HPE	Exit	HEWLETT PACKARD ENTE	$0	–	-13,752	–	-0.00%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-4,699	–	-0.00%	–
NG	Exit	NOVAGOLD RES INC	$0	–	-32,832	–	-0.00%	–
HAL	Exit	HALLIBURTON CO	$0	–	-12,395	–	-0.00%	–
LEA	Exit	LEAR CORP	$0	–	-2,145	–	-0.00%	–
AXS	Exit	AXIS CAPITAL HOLDING	$0	–	-3,248	–	-0.00%	–
XRX	Exit	XEROX HOLDINGS CORP	$0	–	-8,390	–	-0.00%	–
GLW	Exit	CORNING INC	$0	–	-7,625	–	-0.00%	–
MSI	Exit	MOTOROLA SOLUTIONS I	$0	–	-1,750	–	-0.00%	–
PVH	Exit	PVH CORP	$0	–	-2,866	–	-0.00%	–
TMUS	Exit	T MOBILE US INC	$0	–	-3,663	–	-0.00%	–
MS	Exit	MORGAN STANLEY	$0	–	-4,919	–	-0.00%	–
EOG	Exit	EOG RES INC	$0	–	-2,950	–	-0.00%	–
KBR	Exit	KBR INC	$0	–	-8,320	–	-0.00%	–
LEN	Exit	LENNAR CORP	$0	–	-5,556	–	-0.00%	–
AVT	Exit	AVNET INC	$0	–	-6,175	–	-0.00%	–
R	Exit	RYDER SYS INC	$0	–	-4,673	–	-0.00%	–
VST	Exit	VISTRA ENERGY CORP	$0	–	-10,750	–	-0.00%	–
ADM	Exit	ARCHER DANIELS MIDLA	$0	–	-5,800	–	-0.00%	–
BRKB	Exit	BERKSHIRE HATHAWAY I	$0	–	-1,250	–	-0.00%	–
CPS	Exit	COOPER STD HLDGS INC	$0	–	-6,252	–	-0.00%	–
COF	Exit	CAPITAL ONE FINL COR	$0	–	-3,191	–	-0.00%	–
JELD	Exit	JELD-WEN HLDG INC	$0	–	-13,740	–	-0.00%	–
EQH	Exit	AXA EQUITABLE HLDGS	$0	–	-10,341	–	-0.00%	–
DHI	Exit	D R HORTON INC	$0	–	-5,000	–	-0.00%	–
MCK	Exit	MCKESSON CORP	$0	–	-2,242	–	-0.00%	–
UNP	Exit	UNION PACIFIC CORP	$0	–	-1,600	–	-0.00%	–
VZ	Exit	VERIZON COMMUNICATIO	$0	–	-5,005	–	-0.00%	–
LNC	Exit	LINCOLN NATL CORP IN	$0	–	-3,950	–	-0.00%	–
CTSH	Exit	COGNIZANT TECHNOLOGY	$0	–	-3,993	–	-0.00%	–
BA	Exit	BOEING CO	$0	–	-800	–	-0.00%	–
VNO	Exit	VORNADO RLTY TR	$0	–	-6,012	–	-0.00%	–
HES	Exit	HESS CORP	$0	–	-7,400	–	-0.00%	–
AAPL	Exit	APPLE INC	$0	–	-1,600	–	-0.00%	–
ANTM	Exit	ANTHEM INC	$0	–	-1,727	–	-0.00%	–
AERI	Exit	AERIE PHARMACEUTICAL	$0	–	-20,695	–	-0.00%	–
OXY	Exit	OCCIDENTAL PETE CORP	$0	–	-10,155	–	-0.00%	–
ADI	Exit	ANALOG DEVICES INC	$0	–	-4,550	–	-0.00%	–
CSX	Exit	CSX CORP	$0	–	-7,750	–	-0.00%	–
BX	Exit	BLACKSTONE GROUP INC	$0	–	-10,100	–	-0.00%	–
PFE	Exit	PFIZER INC	$0	–	-14,158	–	-0.00%	–
ORCL	Exit	ORACLE CORP	$0	–	-8,537	–	-0.00%	–
DAL	Exit	DELTA AIR LINES INC	$0	–	-11,110	–	-0.01%	–
GOOG	Exit	ALPHABET INC	$0	–	-500	–	-0.01%	–
CVA	Exit	COVANTA HLDG CORP	$0	–	-45,896	–	-0.01%	–
DIS	Exit	DISNEY WALT CO	$0	–	-6,184	–	-0.01%	–
NEM	Exit	NEWMONT GOLDCORP COR	$0	–	-32,800	–	-0.01%	–
EGO	Exit	ELDORADO GOLD CORP N	$0	–	-158,399	–	-0.01%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-10,000	–	-0.01%	–
WAB	Exit	WABTEC CORP	$0	–	-22,174	–	-0.01%	–
SSRM	Exit	SSR MNG INC	$0	–	-160,259	–	-0.02%	–
IAG	Exit	IAMGOLD CORP	$0	–	-694,759	–	-0.02%	–
INFN	Exit	INFINERA CORPORATION	$0	–	-430,000	–	-0.02%	–
	Exit	MARATHON PETE CORPput	$0	–	-40,000	–	-0.02%	–
VGZ	Exit	VISTA GOLD CORP	$0	–	-3,203,217	–	-0.02%	–
	Exit	INTL PAPER COput	$0	–	-60,000	–	-0.02%	–
C	Exit	CITIGROUP INC	$0	–	-38,216	–	-0.02%	–
AKG	Exit	ASANKO GOLD INC	$0	–	-3,228,506	–	-0.02%	–
	Exit	SCHLUMBERGER LTDput	$0	–	-100,000	–	-0.03%	–
	Exit	GENERAL MTRS COput	$0	–	-100,000	–	-0.03%	–
	Exit	BRIGHTHOUSE FINL INCput	$0	–	-100,000	–	-0.03%	–
INGR	Exit	INGREDION INC	$0	–	-52,395	–	-0.03%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-70,000	–	-0.03%	–
	Exit	LENNAR CORPput	$0	–	-80,000	–	-0.04%	–
CMLS	Exit	CUMULUS MEDIA INC	$0	–	-319,300	–	-0.04%	–
FLEX	Exit	FLEX LTD	$0	–	-500,000	–	-0.04%	–
	Exit	CITIGROUP INCput	$0	–	-80,000	–	-0.04%	–
ADNT	Exit	ADIENT PLC	$0	–	-250,000	–	-0.04%	–
LAUR	Exit	LAUREATE EDUCATION I	$0	–	-375,000	–	-0.05%	–
AGI	Exit	ALAMOS GOLD INC NEW	$0	–	-1,135,516	–	-0.05%	–
AVYA	Exit	AVAYA HLDGS CORP	$0	–	-700,000	–	-0.06%	–
J	Exit	JACOBS ENGR GROUP IN	$0	–	-85,000	–	-0.06%	–
GM	Exit	GENERAL MTRS CO	$0	–	-232,055	–	-0.07%	–
	Exit	MEDTRONIC PLCput	$0	–	-80,000	–	-0.07%	–
BAC	Exit	BANK AMER CORP	$0	–	-327,581	–	-0.07%	–
	Exit	HCA HEALTHCARE INCput	$0	–	-80,000	–	-0.08%	–
DD	Exit	DUPONT DE NEMOURS IN	$0	–	-143,346	–	-0.08%	–
CSCO	Exit	CISCO SYS INC	$0	–	-205,000	–	-0.08%	–
IHRT	Exit	IHEARTMEDIA INC	$0	–	-725,000	–	-0.08%	–
USFD	Exit	US FOODS HLDG CORP	$0	–	-275,000	–	-0.09%	–
HCA	Exit	HCA HEALTHCARE INC	$0	–	-95,000	–	-0.09%	–
GOOGL	Exit	ALPHABET INC	$0	–	-9,597	–	-0.09%	–
BERY	Exit	BERRY GLOBAL GROUP I	$0	–	-305,000	–	-0.09%	–
HTZGQ	Exit	HERTZ GLOBAL HLDGS I	$0	–	-869,466	–	-0.09%	–
	Exit	GOLDMAN SACHS GROUP INCput	$0	–	-60,000	–	-0.10%	–
SPY	Exit	SPDR S&P 500 ETF TR	$0	–	-44,000	–	-0.10%	–
	Exit	MICROSOFT CORPput	$0	–	-100,000	–	-0.11%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-117,995	–	-0.11%	–
LKQ	Exit	LKQ CORP	$0	–	-440,000	–	-0.11%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-103,100	–	-0.11%	–
GOLD	Exit	BARRICK GOLD CORPORA	$0	–	-955,845	–	-0.13%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-300,000	–	-0.14%	–
CI	Exit	CIGNA CORP NEW	$0	–	-126,400	–	-0.15%	–
LYB	Exit	LYONDELLBASELL INDUS	$0	–	-216,100	–	-0.15%	–
KMI	Exit	KINDER MORGAN INC DE	$0	–	-1,000,000	–	-0.16%	–
CMCSA	Exit	COMCAST CORP NEW	$0	–	-460,000	–	-0.16%	–
BMY	Exit	BRISTOL MYERS SQUIBB	$0	–	-460,000	–	-0.18%	–
MPC	Exit	MARATHON PETE CORP	$0	–	-395,000	–	-0.19%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-3,000,000	–	-0.21%	–
DOFSQ	Exit	DIAMOND OFFSHORE DRI	$0	–	-73,119,047	–	-3.16%	–
CNA	Exit	CNA FINL CORP	$0	–	-242,649,773	–	-92.86%	–

Q3 2019

			Value		Shares		↓ Weighting
MPC	Sell	MARATHON PETE CORP	$23,996,000	-3.1%	395,000	-10.8%	0.19%	-5.1%
BMY	Buy	BRISTOL MYERS SQUIBB	$23,327,000	+39.0%	460,000	+24.3%	0.18%	+36.1%
CMCSA	Sell	COMCAST CORP NEW	$20,737,000	+1.1%	460,000	-5.2%	0.16%	-0.6%
LYB	Buy	LYONDELLBASELL INDUS	$19,334,000	+5.1%	216,100	+1.2%	0.15%	+3.4%
CI	Sell	CIGNA CORP NEW	$19,186,000	-24.6%	126,400	-21.7%	0.15%	-25.9%
WDC	Sell	WESTERN DIGITAL CORP	$17,892,000	-12.1%	300,000	-29.9%	0.14%	-13.7%
GOLD	Sell	BARRICK GOLD CORPORA	$16,565,000	+8.8%	955,845	-1.0%	0.13%	+7.5%
MSFT	Sell	MICROSOFT CORP	$14,334,000	-5.4%	103,100	-8.8%	0.11%	-7.5%
JPM	Sell	JPMORGAN CHASE & CO	$13,887,000	-26.5%	117,995	-30.2%	0.11%	-27.5%
LKQ	Buy	LKQ CORP	$13,838,000	+30.0%	440,000	+10.0%	0.11%	+28.6%
SPY	Sell	SPDR S&P 500 ETF TR	$13,058,000	-36.3%	44,000	-37.1%	0.10%	-37.7%
BERY	New	BERRY GLOBAL GROUP I	$11,977,000	–	305,000	–	0.09%	–
HTZGQ	Buy	HERTZ GLOBAL HLDGS I	$12,033,000	+46.4%	869,466	+68.8%	0.09%	+43.1%
GOOGL	Sell	ALPHABET INC	$11,719,000	+2.1%	9,597	-9.4%	0.09%	0.0%
HCA	Sell	HCA HEALTHCARE INC	$11,440,000	-15.4%	95,000	-5.0%	0.09%	-16.8%
USFD	Sell	US FOODS HLDG CORP	$11,303,000	-18.5%	275,000	-29.1%	0.09%	-20.0%
IHRT	New	IHEARTMEDIA INC	$10,875,000	–	725,000	–	0.08%	–
DD	Sell	DUPONT DE NEMOURS IN	$10,222,000	-14.5%	143,346	-10.0%	0.08%	-16.0%
CSCO	Sell	CISCO SYS INC	$10,129,000	-15.9%	205,000	-6.8%	0.08%	-16.8%
BAC	Sell	BANK AMER CORP	$9,556,000	-28.0%	327,581	-28.4%	0.07%	-29.5%
GM	Sell	GENERAL MTRS CO	$8,697,000	-32.2%	232,055	-30.3%	0.07%	-32.7%
J	Sell	JACOBS ENGR GROUP IN	$7,778,000	-38.6%	85,000	-43.3%	0.06%	-40.0%
AVYA	Buy	AVAYA HLDGS CORP	$7,161,000	-3.8%	700,000	+12.0%	0.06%	-5.1%
LAUR	Sell	LAUREATE EDUCATION I	$6,216,000	-20.9%	375,000	-25.0%	0.05%	-22.6%
ADNT	Sell	ADIENT PLC	$5,740,000	-35.2%	250,000	-31.5%	0.04%	-35.7%
FLEX	Sell	FLEX LTD	$5,233,000	-34.1%	500,000	-39.8%	0.04%	-34.9%
CMLS	New	CUMULUS MEDIA INC	$4,643,000	–	319,300	–	0.04%	–
CVS	Sell	CVS HEALTH CORP	$4,415,000	+1.3%	70,000	-12.5%	0.03%	0.0%
INGR	New	INGREDION INC	$4,283,000	–	52,395	–	0.03%	–
C	Sell	CITIGROUP INC	$2,640,000	-4.1%	38,216	-2.8%	0.02%	-4.5%
	New	MARATHON PETE CORPput	$2,430,000	–	40,000	–	0.02%	–
WAB	Sell	WABTEC CORP	$1,593,000	-2.9%	22,174	-3.0%	0.01%	-7.7%
CVA	Buy	COVANTA HLDG CORP	$794,000	+5.7%	45,896	+9.5%	0.01%	0.0%
CSX	Sell	CSX CORP	$537,000	-33.0%	7,750	-25.1%	0.00%	-33.3%
ORCL	Sell	ORACLE CORP	$470,000	-47.0%	8,537	-45.2%	0.00%	-42.9%
BX	New	BLACKSTONE GROUP INC	$493,000	–	10,100	–	0.00%	–
OXY	Buy	OCCIDENTAL PETE CORP	$452,000	+10.5%	10,155	+25.0%	0.00%	+33.3%
PFE	Sell	PFIZER INC	$509,000	-42.9%	14,158	-31.2%	0.00%	-42.9%
HES	Sell	HESS CORP	$448,000	-14.3%	7,400	-10.0%	0.00%	-25.0%
AERI	New	AERIE PHARMACEUTICAL	$398,000	–	20,695	–	0.00%	–
PVH	New	PVH CORP	$253,000	–	2,866	–	0.00%	–
R	Buy	RYDER SYS INC	$242,000	+2.1%	4,673	+14.9%	0.00%	0.0%
CPS	Sell	COOPER STD HLDGS INC	$256,000	-36.5%	6,252	-28.8%	0.00%	-33.3%
ADM	New	ARCHER DANIELS MIDLA	$238,000	–	5,800	–	0.00%	–
UTX	New	UNITED TECHNOLOGIES	$239,000	–	1,750	–	0.00%	–
VZ	Sell	VERIZON COMMUNICATIO	$302,000	-24.3%	5,005	-28.3%	0.00%	-33.3%
KBR	Sell	KBR INC	$204,000	-13.2%	8,320	-11.7%	0.00%	0.0%
WFC	New	WELLS FARGO CO NEW	$237,000	–	4,699	–	0.00%	–
XRX	New	XEROX HOLDINGS CORP	$251,000	–	8,390	–	0.00%	–
BRKB	New	BERKSHIRE HATHAWAY I	$260,000	–	1,250	–	0.00%	–
AXS	Sell	AXIS CAPITAL HOLDING	$217,000	+6.9%	3,248	-4.4%	0.00%	0.0%
LHX	New	L3HARRIS TECHNOLOGIE	$250,000	–	1,200	–	0.00%	–
LNC	Sell	LINCOLN NATL CORP IN	$238,000	-26.8%	3,950	-21.8%	0.00%	-33.3%
HAL	Buy	HALLIBURTON CO	$234,000	-7.9%	12,395	+10.8%	0.00%	0.0%
MET	Sell	METLIFE INC	$213,000	-13.1%	4,513	-8.6%	0.00%	0.0%
GLW	Sell	CORNING INC	$217,000	-14.6%	7,625	-0.3%	0.00%	0.0%
NG	Sell	NOVAGOLD RES INC	$199,000	-43.9%	32,832	-45.4%	0.00%	-33.3%
CVE	Sell	CENOVUS ENERGY INC	$138,000	-4.8%	14,675	-10.6%	0.00%	0.0%
CHK	Buy	CHESAPEAKE ENERGY CO	$40,000	+25.0%	28,114	+69.2%	0.00%	–
TTI	Exit	TETRA TECHNOLOGIES I	$0	–	-15,921	–	0.00%	–
HPR	Exit	HIGHPOINT RES CORP	$0	–	-11,492	–	0.00%	–
TNK	Buy	TEEKAY TANKERS LTD	$19,000	+18.8%	14,613	+20.7%	0.00%	–
XRX	Exit	XEROX CORP	$0	–	-5,958	–	-0.00%	–
ACM	Exit	AECOM	$0	–	-5,469	–	-0.00%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-2,490	–	-0.00%	–
EIX	Exit	EDISON INTL	$0	–	-3,470	–	-0.00%	–
WPX	Exit	WPX ENERGY INC	$0	–	-22,700	–	-0.00%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-6,867	–	-0.00%	–
ETN	Exit	EATON CORP PLC	$0	–	-2,610	–	-0.00%	–
URI	Exit	UNITED RENTALS INC	$0	–	-2,350	–	-0.00%	–
IP	Exit	INTL PAPER CO	$0	–	-7,655	–	-0.00%	–
BX	Exit	BLACKSTONE GROUP L P	$0	–	-10,100	–	-0.00%	–
NTRS	Exit	NORTHERN TR CORP	$0	–	-8,000	–	-0.01%	–
HTZRT	Exit	HERTZ GLOBAL HOLDINGS RTS	$0	–	-515,000	–	-0.01%	–
ZTS	Exit	ZOETIS INC	$0	–	-10,000	–	-0.01%	–
CTVA	Exit	CORTEVA ORD	$0	–	-96,799	–	-0.02%	–
GDI	Exit	GARDNER DENVER HLDGS	$0	–	-175,000	–	-0.05%	–
	Exit	TEAM INC	$0	–	-10,000,000	–	-0.08%	–
LNG	Exit	CHENIERE ENERGY INC	$0	–	-170,000	–	-0.09%	–
UNH	Exit	UNITEDHEALTH GROUP I	$0	–	-55,000	–	-0.11%	–
ARMK	Exit	ARAMARK	$0	–	-390,000	–	-0.11%	–

Q2 2019

			Value		Shares		↓ Weighting
CNA	New	CNA FINL CORP	$11,421,525,000	–	242,649,773	–	90.30%	–
DOFSQ	New	DIAMOND OFFSHORE DRI	$648,566,000	–	73,119,047	–	5.13%	–
GE	New	GENERAL ELECTRIC CO	$31,500,000	–	3,000,000	–	0.25%	–
CI	New	CIGNA CORP NEW	$25,429,000	–	161,400	–	0.20%	–
MPC	New	MARATHON PETE CORP	$24,755,000	–	443,000	–	0.20%	–
KMI	New	KINDER MORGAN INC DE	$20,880,000	–	1,000,000	–	0.16%	–
SPY	New	SPDR S&P 500 ETF TR	$20,510,000	–	70,000	–	0.16%	–
CMCSA	New	COMCAST CORP NEW	$20,506,000	–	485,000	–	0.16%	–
WDC	New	WESTERN DIGITAL CORP	$20,351,000	–	428,000	–	0.16%	–
JPM	New	JPMORGAN CHASE & CO	$18,894,000	–	168,995	–	0.15%	–
LYB	New	LYONDELLBASELL INDUS	$18,393,000	–	213,550	–	0.14%	–
BMY	New	BRISTOL MYERS SQUIBB	$16,780,000	–	370,000	–	0.13%	–
GOLD	New	BARRICK GOLD CORPORA	$15,226,000	–	965,505	–	0.12%	–
MSFT	New	MICROSOFT CORP	$15,151,000	–	113,100	–	0.12%	–
ARMK	New	ARAMARK	$14,063,000	–	390,000	–	0.11%	–
USFD	New	US FOODS HLDG CORP	$13,875,000	–	388,000	–	0.11%	–
HCA	New	HCA HEALTHCARE INC	$13,517,000	–	100,000	–	0.11%	–
	New	MICROSOFT CORPput	$13,396,000	–	100,000	–	0.11%	–
UNH	New	UNITEDHEALTH GROUP I	$13,421,000	–	55,000	–	0.11%	–
BAC	New	BANK AMER CORP	$13,270,000	–	457,581	–	0.10%	–
GM	New	GENERAL MTRS CO	$12,833,000	–	333,055	–	0.10%	–
J	New	JACOBS ENGR GROUP IN	$12,659,000	–	150,000	–	0.10%	–
	New	GOLDMAN SACHS GROUP INCput	$12,276,000	–	60,000	–	0.10%	–
CSCO	New	CISCO SYS INC	$12,041,000	–	220,000	–	0.10%	–
DD	New	DUPONT DE NEMOURS ORD	$11,951,000	–	159,199	–	0.09%	–
LNG	New	CHENIERE ENERGY INC	$11,637,000	–	170,000	–	0.09%	–
GOOGL	New	ALPHABET INC	$11,474,000	–	10,597	–	0.09%	–
	New	HCA HEALTHCARE INCput	$10,814,000	–	80,000	–	0.08%	–
LKQ	New	LKQ CORP	$10,644,000	–	400,000	–	0.08%	–
	New	TEAM INC	$10,166,000	–	10,000,000	–	0.08%	–
ADNT	New	ADIENT PLC	$8,859,000	–	365,000	–	0.07%	–
HTZGQ	New	HERTZ GLOBAL HLDGS I	$8,219,000	–	515,000	–	0.06%	–
FLEX	New	FLEX LTD	$7,943,000	–	830,000	–	0.06%	–
LAUR	New	LAUREATE EDUCATION I	$7,855,000	–	500,000	–	0.06%	–
	New	MEDTRONIC PLCput	$7,791,000	–	80,000	–	0.06%	–
AVYA	New	AVAYA HLDGS CORP	$7,444,000	–	625,000	–	0.06%	–
AGI	New	ALAMOS GOLD INC NEW	$6,853,000	–	1,135,516	–	0.05%	–
GDI	New	GARDNER DENVER HLDGS	$6,055,000	–	175,000	–	0.05%	–
	New	CITIGROUP INCput	$5,602,000	–	80,000	–	0.04%	–
CVS	New	CVS HEALTH CORP	$4,359,000	–	80,000	–	0.03%	–
	New	SCHLUMBERGER LTDput	$3,974,000	–	100,000	–	0.03%	–
	New	LENNAR CORPput	$3,877,000	–	80,000	–	0.03%	–
	New	GENERAL MTRS COput	$3,853,000	–	100,000	–	0.03%	–
	New	BRIGHTHOUSE FINL INCput	$3,669,000	–	100,000	–	0.03%	–
CTVA	New	CORTEVA ORD	$2,862,000	–	96,799	–	0.02%	–
C	New	CITIGROUP INC	$2,753,000	–	39,311	–	0.02%	–
	New	INTL PAPER COput	$2,599,000	–	60,000	–	0.02%	–
IAG	New	IAMGOLD CORP	$2,351,000	–	694,759	–	0.02%	–
VGZ	New	VISTA GOLD CORP	$2,434,000	–	3,203,217	–	0.02%	–
SSRM	New	SSR MNG INC	$2,191,000	–	160,259	–	0.02%	–
AKG	New	ASANKO GOLD INC	$2,047,000	–	3,228,506	–	0.02%	–
WAB	New	WABTEC CORP	$1,641,000	–	22,861	–	0.01%	–
INFN	New	INFINERA CORPORATION	$1,251,000	–	430,000	–	0.01%	–
NEM	New	NEWMONT MNG CORP	$1,262,000	–	32,800	–	0.01%	–
PG	New	PROCTER AND GAMBLE C	$1,097,000	–	10,000	–	0.01%	–
ZTS	New	ZOETIS INC	$1,135,000	–	10,000	–	0.01%	–
HTZRT	New	HERTZ GLOBAL HOLDINGS RTS	$1,004,000	–	515,000	–	0.01%	–
DIS	New	DISNEY WALT CO	$864,000	–	6,184	–	0.01%	–
EGO	New	ELDORADO GOLD CORP N	$921,000	–	158,399	–	0.01%	–
PFE	New	PFIZER INC	$891,000	–	20,579	–	0.01%	–
ORCL	New	ORACLE CORP	$887,000	–	15,572	–	0.01%	–
CSX	New	CSX CORP	$801,000	–	10,350	–	0.01%	–
NTRS	New	NORTHERN TR CORP	$720,000	–	8,000	–	0.01%	–
CVA	New	COVANTA HLDG CORP	$751,000	–	41,912	–	0.01%	–
DAL	New	DELTA AIR LINES INC	$630,000	–	11,110	–	0.01%	–
BX	New	BLACKSTONE GROUP L P	$449,000	–	10,100	–	0.00%	–
ANTM	New	ANTHEM INC	$487,000	–	1,727	–	0.00%	–
ADI	New	ANALOG DEVICES INC	$514,000	–	4,550	–	0.00%	–
HES	New	HESS CORP	$523,000	–	8,224	–	0.00%	–
GOOG	New	ALPHABET INC	$540,000	–	500	–	0.00%	–
VZ	New	VERIZON COMMUNICATIO	$399,000	–	6,980	–	0.00%	–
AAPL	New	APPLE INC	$317,000	–	1,600	–	0.00%	–
CPS	New	COOPER STD HLDGS INC	$403,000	–	8,785	–	0.00%	–
IP	New	INTL PAPER CO	$332,000	–	7,655	–	0.00%	–
LNC	New	LINCOLN NATL CORP IN	$325,000	–	5,050	–	0.00%	–
NG	New	NOVAGOLD RES INC	$355,000	–	60,092	–	0.00%	–
OXY	New	OCCIDENTAL PETE CORP	$409,000	–	8,127	–	0.00%	–
VNO	New	VORNADO RLTY TR	$385,000	–	6,012	–	0.00%	–
KHC	New	KRAFT HEINZ CO	$213,000	–	6,867	–	0.00%	–
MET	New	METLIFE INC	$245,000	–	4,940	–	0.00%	–
KBR	New	KBR INC	$235,000	–	9,424	–	0.00%	–
JELD	New	JELD-WEN HLDG INC	$292,000	–	13,740	–	0.00%	–
MS	New	MORGAN STANLEY	$216,000	–	4,919	–	0.00%	–
MSI	New	MOTOROLA SOLUTIONS I	$292,000	–	1,750	–	0.00%	–
NOV	New	NATIONAL OILWELL VAR	$264,000	–	11,872	–	0.00%	–
NWL	New	NEWELL BRANDS INC	$190,000	–	12,301	–	0.00%	–
XRX	New	XEROX CORP	$211,000	–	5,958	–	0.00%	–
BA	New	BOEING CO	$291,000	–	800	–	0.00%	–
EQH	New	AXA EQUITABLE HLDGS	$216,000	–	10,341	–	0.00%	–
AXS	New	AXIS CAPITAL HOLDING	$203,000	–	3,396	–	0.00%	–
ETN	New	EATON CORP PLC	$217,000	–	2,610	–	0.00%	–
LEN	New	LENNAR CORP	$269,000	–	5,556	–	0.00%	–
LEA	New	LEAR CORP	$299,000	–	2,145	–	0.00%	–
AVT	New	AVNET INC	$280,000	–	6,175	–	0.00%	–
MCK	New	MCKESSON CORP	$301,000	–	2,242	–	0.00%	–
HPE	New	HEWLETT PACKARD ENTE	$206,000	–	13,752	–	0.00%	–
AIG	New	AMERICAN INTL GROUP	$279,000	–	5,237	–	0.00%	–
OMC	New	OMNICOM GROUP INC	$204,000	–	2,490	–	0.00%	–
HAL	New	HALLIBURTON CO	$254,000	–	11,182	–	0.00%	–
F	New	FORD MTR CO DEL	$221,000	–	21,593	–	0.00%	–
R	New	RYDER SYS INC	$237,000	–	4,066	–	0.00%	–
EIX	New	EDISON INTL	$234,000	–	3,470	–	0.00%	–
EOG	New	EOG RES INC	$275,000	–	2,950	–	0.00%	–
DHI	New	D R HORTON INC	$216,000	–	5,000	–	0.00%	–
TMUS	New	T MOBILE US INC	$272,000	–	3,663	–	0.00%	–
GLW	New	CORNING INC	$254,000	–	7,645	–	0.00%	–
UNP	New	UNION PACIFIC CORP	$271,000	–	1,600	–	0.00%	–
URI	New	UNITED RENTALS INC	$312,000	–	2,350	–	0.00%	–
CTSH	New	COGNIZANT TECHNOLOGY	$253,000	–	3,993	–	0.00%	–
ACM	New	AECOM	$207,000	–	5,469	–	0.00%	–
VST	New	VISTRA ENERGY CORP	$243,000	–	10,750	–	0.00%	–
COF	New	CAPITAL ONE FINL COR	$290,000	–	3,191	–	0.00%	–
WPX	New	WPX ENERGY INC	$261,000	–	22,700	–	0.00%	–
CVE	New	CENOVUS ENERGY INC	$145,000	–	16,406	–	0.00%	–
ALO	New	ALIO GOLD INC	$101,000	–	130,891	–	0.00%	–
PBI	New	PITNEY BOWES INC	$121,000	–	28,258	–	0.00%	–
BKD	New	BROOKDALE SR LIVING	$96,000	–	13,377	–	0.00%	–
FCEL	New	FUELCELL ENERGY INC	$3,000	–	19,808	–	0.00%	–
TNK	New	TEEKAY TANKERS LTD	$16,000	–	12,111	–	0.00%	–
CHK	New	CHESAPEAKE ENERGY CO	$32,000	–	16,614	–	0.00%	–
TTI	New	TETRA TECHNOLOGIES I	$26,000	–	15,921	–	0.00%	–
HPR	New	HIGHPOINT RES CORP	$21,000	–	11,492	–	0.00%	–

Q4 2018

			Value		Shares		↓ Weighting
TTI	Exit	TETRA TECHNOLOGIES I	$0	–	-11,221	–	0.00%	–
LODE	Exit	COMSTOCK MNG INC	$0	–	-173,646	–	0.00%	–
BKD	Exit	BROOKDALE SR LIVING	$0	–	-18,174	–	-0.00%	–
TNK	Exit	TEEKAY TANKERS LTD	$0	–	-109,307	–	-0.00%	–
CHK	Exit	CHESAPEAKE ENERGY CO	$0	–	-25,950	–	-0.00%	–
ALO	Exit	ALIO GOLD INC	$0	–	-130,891	–	-0.00%	–
FCEL	Exit	FUELCELL ENERGY INC	$0	–	-67,825	–	-0.00%	–
PBI	Exit	PITNEY BOWES INC	$0	–	-26,060	–	-0.00%	–
UBS	Exit	UBS GROUP AG	$0	–	-10,625	–	-0.00%	–
EZPW	Exit	EZCORP INC	$0	–	-11,246	–	-0.00%	–
GOV	Exit	GOVERNMENT PPTYS INC	$0	–	-11,790	–	-0.00%	–
HPR	Exit	HIGHPOINT RES CORP	$0	–	-23,140	–	-0.00%	–
FHN	Exit	FIRST HORIZON NATL C	$0	–	-17,173	–	-0.00%	–
JELD	Exit	JELD-WEN HLDG INC	$0	–	-11,222	–	-0.00%	–
FOX	Exit	TWENTY FIRST CENTY F	$0	–	-6,350	–	-0.00%	–
XRX	Exit	XEROX CORP	$0	–	-11,967	–	-0.00%	–
VOYA	Exit	VOYA FINL INC	$0	–	-5,097	–	-0.00%	–
IOSP	Exit	INNOSPEC INC	$0	–	-3,364	–	-0.00%	–
AIG	Exit	AMERICAN INTL GROUP	$0	–	-5,248	–	-0.00%	–
FCNCA	Exit	FIRST CTZNS BANCSHAR	$0	–	-634	–	-0.00%	–
VRTS	Exit	VIRTUS INVT PARTNERS	$0	–	-2,220	–	-0.00%	–
AAL	Exit	AMERICAN AIRLS GROUP	$0	–	-7,200	–	-0.00%	–
MET	Exit	METLIFE INC	$0	–	-6,529	–	-0.00%	–
MYL	Exit	MYLAN N V	$0	–	-8,783	–	-0.00%	–
DOV	Exit	DOVER CORP	$0	–	-3,274	–	-0.00%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-4,501	–	-0.00%	–
DISH	Exit	DISH NETWORK CORP	$0	–	-8,079	–	-0.00%	–
NG	Exit	NOVAGOLD RES INC	$0	–	-60,092	–	-0.00%	–
AXS	Exit	AXIS CAPITAL HOLDING	$0	–	-4,843	–	-0.00%	–
EIX	Exit	EDISON INTL	$0	–	-4,755	–	-0.00%	–
MD	Exit	MEDNAX INC	$0	–	-5,291	–	-0.00%	–
MS	Exit	MORGAN STANLEY	$0	–	-5,653	–	-0.00%	–
AMGN	Exit	AMGEN INC	$0	–	-1,139	–	-0.00%	–
TEX	Exit	TEREX CORP NEW	$0	–	-6,932	–	-0.00%	–
RDSA	Exit	ROYAL DUTCH SHELL PL	$0	–	-4,480	–	-0.00%	–
ETN	Exit	EATON CORP PLC	$0	–	-2,610	–	-0.00%	–
MCK	Exit	MCKESSON CORP	$0	–	-1,832	–	-0.00%	–
LEN	Exit	LENNAR CORP	$0	–	-6,106	–	-0.00%	–
COF	Exit	CAPITAL ONE FINL COR	$0	–	-3,370	–	-0.00%	–
ATH	Exit	ATHENE HLDG LTD	$0	–	-6,000	–	-0.00%	–
R	Exit	RYDER SYS INC	$0	–	-4,275	–	-0.00%	–
DHI	Exit	D R HORTON INC	$0	–	-5,500	–	-0.00%	–
DLTR	Exit	DOLLAR TREE INC	$0	–	-3,446	–	-0.00%	–
CVE	Exit	CENOVUS ENERGY INC	$0	–	-21,382	–	-0.00%	–
CNO	Exit	CNO FINL GROUP INC	$0	–	-10,125	–	-0.00%	–
EQH	Exit	AXA EQUITABLE HLDGS	$0	–	-9,598	–	-0.00%	–
EOG	Exit	EOG RES INC	$0	–	-3,200	–	-0.00%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-4,970	–	-0.00%	–
F	Exit	FORD MTR CO DEL	$0	–	-37,261	–	-0.00%	–
CTSH	Exit	COGNIZANT TECHNOLOGY	$0	–	-4,706	–	-0.00%	–
IP	Exit	INTL PAPER CO	$0	–	-7,655	–	-0.00%	–
AVT	Exit	AVNET INC	$0	–	-8,268	–	-0.00%	–
HES	Exit	HESS CORP	$0	–	-5,975	–	-0.00%	–
VZ	Exit	VERIZON COMMUNICATIO	$0	–	-6,980	–	-0.00%	–
VNO	Exit	VORNADO RLTY TR	$0	–	-6,012	–	-0.00%	–
GLW	Exit	CORNING INC	$0	–	-12,835	–	-0.00%	–
GS	Exit	GOLDMAN SACHS GROUP	$0	–	-2,183	–	-0.00%	–
WPX	Exit	WPX ENERGY INC	$0	–	-24,900	–	-0.00%	–
KBR	Exit	KBR INC	$0	–	-24,634	–	-0.00%	–
ADI	Exit	ANALOG DEVICES INC	$0	–	-5,500	–	-0.00%	–
	Exit	SNAP INCput	$0	–	-80,000	–	-0.01%	–
DAL	Exit	DELTA AIR LINES INC	$0	–	-11,910	–	-0.01%	–
URI	Exit	UNITED RENTALS INC	$0	–	-3,800	–	-0.01%	–
ANTM	Exit	ANTHEM INC	$0	–	-2,400	–	-0.01%	–
GOOG	Exit	ALPHABET INC	$0	–	-550	–	-0.01%	–
CMTL	Exit	COMTECH TELECOMMUNIC	$0	–	-16,776	–	-0.01%	–
NTRS	Exit	NORTHERN TR CORP	$0	–	-8,000	–	-0.01%	–
FDX	Exit	FEDEX CORP	$0	–	-3,350	–	-0.01%	–
CVA	Exit	COVANTA HLDG CORP	$0	–	-50,182	–	-0.01%	–
LNC	Exit	LINCOLN NATL CORP IN	$0	–	-11,300	–	-0.01%	–
AET	Exit	AETNA INC NEW	$0	–	-4,700	–	-0.01%	–
PFE	Exit	PFIZER INC	$0	–	-22,207	–	-0.01%	–
CSX	Exit	CSX CORP	$0	–	-12,500	–	-0.01%	–
GG	Exit	GOLDCORP INC NEW	$0	–	-100,000	–	-0.01%	–
ORCL	Exit	ORACLE CORP	$0	–	-20,912	–	-0.01%	–
	Exit	BARRICK GOLD CORPcall	$0	–	-100,000	–	-0.01%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-10,193	–	-0.01%	–
MAG	Exit	MAG SILVER CORP	$0	–	-159,203	–	-0.01%	–
C	Exit	CITIGROUP INC	$0	–	-20,251	–	-0.01%	–
VGZ	Exit	VISTA GOLD CORP	$0	–	-3,203,217	–	-0.01%	–
AKG	Exit	ASANKO GOLD INC	$0	–	-2,478,379	–	-0.02%	–
	Exit	BARRICK GOLD CORPput	$0	–	-200,000	–	-0.02%	–
	Exit	ADIENT PLCcall	$0	–	-60,000	–	-0.02%	–
CLDPQ	Exit	CLOUD PEAK ENERGY IN	$0	–	-1,200,000	–	-0.02%	–
	Exit	VANECK VECTORS ETF TRput	$0	–	-100,000	–	-0.02%	–
	Exit	VANECK VECTORS ETF TRput	$0	–	-150,000	–	-0.02%	–
	Exit	AKAMAI TECHNOLOGIES INCput	$0	–	-40,000	–	-0.02%	–
USFD	Exit	US FOODS HLDG CORP	$0	–	-100,000	–	-0.02%	–
INFN	Exit	INFINERA CORPORATION	$0	–	-430,000	–	-0.02%	–
	Exit	BRISTOL MYERS SQUIBB COput	$0	–	-60,000	–	-0.03%	–
FLEX	Exit	FLEX LTD	$0	–	-300,000	–	-0.03%	–
	Exit	PNC FINL SVCS GROUP INCput	$0	–	-30,000	–	-0.03%	–
	Exit	D R HORTON INCput	$0	–	-100,000	–	-0.03%	–
	Exit	BRIGHTHOUSE FINL INCput	$0	–	-100,000	–	-0.03%	–
SSRM	Exit	SSR MNG INC	$0	–	-517,413	–	-0.03%	–
AGI	Exit	ALAMOS GOLD INC NEW	$0	–	-1,004,541	–	-0.04%	–
	Exit	ADIENT PLCput	$0	–	-120,000	–	-0.04%	–
PVG	Exit	PRETIUM RES INC	$0	–	-613,984	–	-0.04%	–
BAC	Exit	BANK AMER CORP	$0	–	-160,528	–	-0.04%	–
	Exit	STATE STR CORPput	$0	–	-60,000	–	-0.04%	–
LAUR	Exit	LAUREATE EDUCATION I	$0	–	-345,000	–	-0.04%	–
	Exit	AUTOMATIC DATA PROCESSING INput	$0	–	-40,000	–	-0.05%	–
HPE	Exit	HEWLETT PACKARD ENTE	$0	–	-377,112	–	-0.05%	–
GOOGL	Exit	ALPHABET INC	$0	–	-5,097	–	-0.05%	–
	Exit	DOWDUPONT INCput	$0	–	-100,000	–	-0.05%	–
AVYA	Exit	AVAYA HLDGS CORP	$0	–	-300,000	–	-0.05%	–
	Exit	GENERAL MTRS COput	$0	–	-200,000	–	-0.05%	–
	Exit	APTIV PLCput	$0	–	-80,000	–	-0.05%	–
	Exit	EXXON MOBIL CORPput	$0	–	-80,000	–	-0.05%	–
AXTA	Exit	AXALTA COATING SYS L	$0	–	-245,000	–	-0.05%	–
	Exit	TRACTOR SUPPLY COput	$0	–	-80,000	–	-0.06%	–
	Exit	WELLS FARGO CO NEWput	$0	–	-140,000	–	-0.06%	–
HTZGQ	Exit	HERTZ GLOBAL HLDGS I	$0	–	-515,000	–	-0.06%	–
	Exit	TARGET CORPput	$0	–	-100,000	–	-0.07%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-75,000	–	-0.07%	–
HCA	Exit	HCA HEALTHCARE INC	$0	–	-70,000	–	-0.07%	–
LYB	Exit	LYONDELLBASELL INDUS	$0	–	-94,400	–	-0.07%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-918,005	–	-0.08%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-90,200	–	-0.08%	–
HYACU	Exit	HAYMAKER ACQUISITION	$0	–	-1,000,000	–	-0.08%	–
	Exit	JOHNSON & JOHNSONput	$0	–	-80,000	–	-0.08%	–
MPC	Exit	MARATHON PETE CORP	$0	–	-140,000	–	-0.08%	–
	Exit	HCA HEALTHCARE INCput	$0	–	-80,000	–	-0.08%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-172,700	–	-0.08%	–
	Exit	NETFLIX INCput	$0	–	-30,000	–	-0.09%	–
CFX	Exit	COLFAX CORP	$0	–	-320,000	–	-0.09%	–
	Exit	TEAM INC	$0	–	-10,000,000	–	-0.10%	–
WLTW	Exit	WILLIS TOWERS WATSON	$0	–	-90,000	–	-0.10%	–
GM	Exit	GENERAL MTRS CO	$0	–	-383,055	–	-0.10%	–
AER	Exit	AERCAP HOLDINGS NV	$0	–	-240,000	–	-0.10%	–
MYE	Exit	MYERS INDS INC	$0	–	-600,000	–	-0.11%	–
ADNT	Exit	ADIENT PLC	$0	–	-360,000	–	-0.11%	–
CI	Exit	CIGNA CORPORATION	$0	–	-75,000	–	-0.12%	–
LKQ	Exit	LKQ CORP	$0	–	-500,000	–	-0.12%	–
KMI	Exit	KINDER MORGAN INC DE	$0	–	-915,000	–	-0.12%	–
CMCSA	Exit	COMCAST CORP NEW	$0	–	-553,258	–	-0.15%	–
CSCO	Exit	CISCO SYS INC	$0	–	-410,000	–	-0.15%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-361,000	–	-0.16%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-3,000,000	–	-0.26%	–
SPY	Exit	SPDR S&P 500 ETF TR	$0	–	-120,000	–	-0.27%	–
DOFSQ	Exit	DIAMOND OFFSHORE DRI	$0	–	-73,119,047	–	-11.14%	–
CNA	Exit	CNA FINL CORP	$0	–	-242,649,773	–	-84.38%	–

Q3 2018

			Value		Shares		↓ Weighting
SPY	Sell	SPDR S&P 500 ETF TR	$34,886,000	+3.7%	120,000	-3.2%	0.27%	+16.2%
WDC	Buy	WESTERN DIGITAL CORP	$21,133,000	+24.1%	361,000	+64.1%	0.16%	+38.8%
CSCO	Sell	CISCO SYS INC	$19,947,000	+7.8%	410,000	-4.7%	0.15%	+20.6%
CMCSA	Buy	COMCAST CORP NEW	$19,591,000	+23.9%	553,258	+14.8%	0.15%	+38.0%
KMI	Buy	KINDER MORGAN INC DE	$16,223,000	+22.4%	915,000	+22.0%	0.12%	+37.8%
LKQ	Sell	LKQ CORP	$15,835,000	-9.7%	500,000	-9.1%	0.12%	+0.8%
CI	Sell	CIGNA CORPORATION	$15,619,000	+14.9%	75,000	-6.2%	0.12%	+28.0%
ADNT	Buy	ADIENT PLC	$14,152,000	-16.6%	360,000	+4.3%	0.11%	-6.9%
MYE	Sell	MYERS INDS INC	$13,950,000	+17.4%	600,000	-3.1%	0.11%	+30.9%
AER	Sell	AERCAP HOLDINGS NV	$13,805,000	-15.0%	240,000	-20.0%	0.10%	-5.4%
GM	Buy	GENERAL MTRS CO	$12,897,000	-1.0%	383,055	+15.9%	0.10%	+10.1%
WLTW	Buy	WILLIS TOWERS WATSON	$12,685,000	+11.6%	90,000	+20.0%	0.10%	+26.0%
	New	TEAM INC	$12,600,000	–	10,000,000	–	0.10%	–
DWDP	Buy	DOWDUPONT INC	$11,106,000	+1.2%	172,700	+3.8%	0.08%	+13.3%
MPC	Sell	MARATHON PETE CORP	$11,196,000	-16.0%	140,000	-26.3%	0.08%	-6.6%
HCA	Sell	HCA HEALTHCARE INC	$9,738,000	-45.8%	70,000	-60.0%	0.07%	-39.3%
VRSK	Sell	VERISK ANALYTICS INC	$9,041,000	+5.0%	75,000	-6.2%	0.07%	+16.9%
AVYA	Buy	AVAYA HLDGS CORP	$6,642,000	+14.1%	300,000	+3.4%	0.05%	+27.5%
HPE	Sell	HEWLETT PACKARD ENTE	$6,151,000	-12.7%	377,112	-21.8%	0.05%	-2.1%
GOOGL	Buy	ALPHABET INC	$6,152,000	+33.0%	5,097	+24.4%	0.05%	+46.9%
LAUR	Sell	LAUREATE EDUCATION I	$5,327,000	-7.1%	345,000	-13.8%	0.04%	+5.1%
PVG	Sell	PRETIUM RES INC	$4,672,000	-30.5%	613,984	-32.7%	0.04%	-21.7%
BAC	Buy	BANK AMER CORP	$4,729,000	+1492.3%	160,528	+1424.8%	0.04%	+1700.0%
	Buy	ADIENT PLCput	$4,717,000	+59.8%	120,000	+100.0%	0.04%	+80.0%
AGI	Sell	ALAMOS GOLD INC NEW	$4,616,000	-32.8%	1,004,541	-16.6%	0.04%	-25.5%
SSRM	Sell	SSR MNG INC	$4,507,000	-43.3%	517,413	-35.7%	0.03%	-37.0%
FLEX	New	FLEX LTD	$3,936,000	–	300,000	–	0.03%	–
USFD	New	US FOODS HLDG CORP	$3,082,000	–	100,000	–	0.02%	–
	New	ADIENT PLCcall	$2,359,000	–	60,000	–	0.02%	–
AET	Sell	AETNA INC NEW	$953,000	-94.5%	4,700	-95.0%	0.01%	-94.1%
CVA	Sell	COVANTA HLDG CORP	$815,000	-30.0%	50,182	-28.9%	0.01%	-25.0%
NTRS	Sell	NORTHERN TR CORP	$817,000	-20.6%	8,000	-20.0%	0.01%	-14.3%
CMTL	Sell	COMTECH TELECOMMUNIC	$608,000	+2.7%	16,776	-9.7%	0.01%	+25.0%
	Sell	SNAP INCput	$678,000	-74.1%	80,000	-60.0%	0.01%	-72.2%
KBR	Buy	KBR INC	$521,000	+18.4%	24,634	+0.3%	0.00%	+33.3%
IP	Buy	INTL PAPER CO	$376,000	+61.4%	7,655	+71.1%	0.00%	+50.0%
AVT	Sell	AVNET INC	$370,000	-8.2%	8,268	-12.1%	0.00%	0.0%
HES	Sell	HESS CORP	$428,000	-3.6%	5,975	-10.0%	0.00%	0.0%
AXS	Buy	AXIS CAPITAL HOLDING	$279,000	+10.7%	4,843	+7.0%	0.00%	0.0%
ETN	Sell	EATON CORP PLC	$226,000	-46.1%	2,610	-53.5%	0.00%	-33.3%
R	Buy	RYDER SYS INC	$312,000	+13.5%	4,275	+11.6%	0.00%	0.0%
FOX	New	TWENTY FIRST CENTY F	$291,000	–	6,350	–	0.00%	–
MD	New	MEDNAX INC	$247,000	–	5,291	–	0.00%	–
NG	Buy	NOVAGOLD RES INC	$223,000	+10.9%	60,092	+33.0%	0.00%	+100.0%
VRTS	Sell	VIRTUS INVT PARTNERS	$253,000	-13.7%	2,220	-2.9%	0.00%	0.0%
FHN	Buy	FIRST HORIZON NATL C	$296,000	-1.0%	17,173	+2.4%	0.00%	0.0%
EQH	New	AXA EQUITABLE HLDGS	$206,000	–	9,598	–	0.00%	–
DLTR	Sell	DOLLAR TREE INC	$281,000	-4.7%	3,446	-0.9%	0.00%	0.0%
CNO	Sell	CNO FINL GROUP INC	$215,000	-6.9%	10,125	-16.5%	0.00%	0.0%
CHK	Buy	CHESAPEAKE ENERGY CO	$117,000	+82.8%	25,950	+112.7%	0.00%	–
HPR	Buy	HIGHPOINT RES CORP	$113,000	+1.8%	23,140	+27.2%	0.00%	0.0%
EZPW	New	EZCORP INC	$120,000	–	11,246	–	0.00%	–
TTI	Sell	TETRA TECHNOLOGIES I	$51,000	-23.9%	11,221	-25.1%	0.00%	–
LODE	Sell	COMSTOCK MNG INC	$24,000	-57.9%	173,646	-20.8%	0.00%	–
NXPI	Exit	NXP SEMICONDUCTORS NV	$0	–	-1,980	–	-0.00%	–
BEN	Exit	FRANKLIN RESOURCES INC	$0	–	-6,486	–	-0.00%	–
PAAS	Exit	PAN AMERICAN SILVER CORP	$0	–	-13,486	–	-0.00%	–
MUR	Exit	MURPHY OIL CORP	$0	–	-6,846	–	-0.00%	–
TISI	Exit	TEAM INC	$0	–	-82,598	–	-0.01%	–
ESRX	Exit	EXPRESS SCRIPTS HOLDING CO	$0	–	-30,000	–	-0.02%	–
	Exit	REALOGY HOLDINGS CORPput	$0	–	-120,000	–	-0.02%	–
AZZ	Exit	AZZ INC	$0	–	-115,706	–	-0.03%	–
MTSC	Exit	MTS SYSTEMS CORP	$0	–	-114,724	–	-0.04%	–
BWP	Exit	BWP COMMON UNITS	$0	–	-125,586,133	–	-9.94%	–

Q2 2018

			Value		Shares		↓ Weighting
CNA	New	CNA FINANCIAL CORP	$11,084,242,000	–	242,649,773	–	75.53%	–
DOFSQ	New	DIAMOND OFFSHORE DRILLING	$1,525,263,000	–	73,119,047	–	10.39%	–
BWP	New	BWP COMMON UNITS	$1,459,311,000	–	125,586,133	–	9.94%	–
GE	New	GENERAL ELECTRIC CO	$40,830,000	–	3,000,000	–	0.28%	–
SPY	New	SPDR S&P 500 ETF TRUST	$33,639,000	–	124,000	–	0.23%	–
CSCO	New	CISCO SYSTEMS INC	$18,503,000	–	430,000	–	0.13%	–
HCA	New	HCA HEALTHCARE INC	$17,955,000	–	175,000	–	0.12%	–
LKQ	New	LKQ CORP	$17,545,000	–	550,000	–	0.12%	–
AET	New	AETNA INC	$17,377,000	–	94,700	–	0.12%	–
WDC	New	WESTERN DIGITAL CORP	$17,030,000	–	220,000	–	0.12%	–
ADNT	New	ADIENT PLC	$16,971,000	–	345,000	–	0.12%	–
AER	New	AERCAP HOLDINGS NV	$16,245,000	–	300,000	–	0.11%	–
CMCSA	New	COMCAST CORP-CLASS A	$15,809,000	–	481,844	–	0.11%	–
CI	New	CIGNA CORP	$13,596,000	–	80,000	–	0.09%	–
MPC	New	MARATHON PETROLEUM CORP	$13,330,000	–	190,000	–	0.09%	–
KMI	New	KINDER MORGAN INC	$13,253,000	–	750,000	–	0.09%	–
GM	New	GENERAL MOTORS CO.	$13,025,000	–	330,582	–	0.09%	–
GOLD	New	BARRICK GOLD CORP	$12,053,000	–	918,005	–	0.08%	–
MYE	New	MYERS INDUSTRIES INC	$11,883,000	–	618,900	–	0.08%	–
	New	NETFLIX INCput	$11,743,000	–	30,000	–	0.08%	–
WLTW	New	WILLIS TOWERS WATSON PLC	$11,370,000	–	75,000	–	0.08%	–
DWDP	New	DOWDUPONT INC	$10,970,000	–	166,415	–	0.08%	–
LYB	New	LYONDELLBASELL INDU-CL A	$10,370,000	–	94,400	–	0.07%	–
HYACU	New	HAYMAKER ACQUISITION CORP	$10,110,000	–	1,000,000	–	0.07%	–
CFX	New	COLFAX CORP	$9,808,000	–	320,000	–	0.07%	–
	New	JOHNSON & JOHNSONput	$9,707,000	–	80,000	–	0.07%	–
MSFT	New	MICROSOFT CORP	$8,895,000	–	90,200	–	0.06%	–
VRSK	New	VERISK ANALYTICS INC	$8,611,000	–	80,000	–	0.06%	–
	New	HCA HEALTHCARE INCput	$8,208,000	–	80,000	–	0.06%	–
SSRM	New	SSR MINING INC	$7,942,000	–	804,644	–	0.05%	–
HTZGQ	New	HERTZ GLOBAL HOLDINGS INC	$7,900,000	–	515,000	–	0.05%	–
	New	GENERAL MOTORS CO.put	$7,880,000	–	200,000	–	0.05%	–
	New	WELLS FARGO & COput	$7,762,000	–	140,000	–	0.05%	–
	New	TARGET CORPput	$7,612,000	–	100,000	–	0.05%	–
AXTA	New	AXALTA COATING SYSTEMS LTD	$7,426,000	–	245,000	–	0.05%	–
	New	APTIV PLCput	$7,330,000	–	80,000	–	0.05%	–
HPE	New	HEWLETT PACKARD ENTERPRISE	$7,044,000	–	482,112	–	0.05%	–
AGI	New	ALAMOS GOLD INC-CLASS A	$6,870,000	–	1,204,541	–	0.05%	–
PVG	New	PRETIUM RESOURCES INC	$6,720,000	–	912,540	–	0.05%	–
	New	EXXON MOBIL CORPput	$6,618,000	–	80,000	–	0.04%	–
	New	DOWDUPONT INCput	$6,592,000	–	100,000	–	0.04%	–
	New	TRACTOR SUPPLY COMPANYput	$6,119,000	–	80,000	–	0.04%	–
MTSC	New	MTS SYSTEMS CORP	$6,040,000	–	114,724	–	0.04%	–
AVYA	New	AVAYA HOLDINGS CORP	$5,823,000	–	290,000	–	0.04%	–
LAUR	New	LAUREATE EDUCATION INC-A	$5,732,000	–	400,000	–	0.04%	–
	New	STATE STREET CORPput	$5,585,000	–	60,000	–	0.04%	–
	New	AUTOMATIC DATA PROCESSINGput	$5,366,000	–	40,000	–	0.04%	–
AZZ	New	AZZ INC	$5,027,000	–	115,706	–	0.03%	–
GOOGL	New	ALPHABET INC-CL A	$4,626,000	–	4,097	–	0.03%	–
CLDPQ	New	CLOUD PEAK ENERGY INC	$4,188,000	–	1,200,000	–	0.03%	–
INFN	New	INFINERA CORP	$4,270,000	–	430,000	–	0.03%	–
	New	PNC FINANCIAL SERVICES GROUPput	$4,053,000	–	30,000	–	0.03%	–
	New	DR HORTON INCput	$4,100,000	–	100,000	–	0.03%	–
	New	BRIGHTHOUSE FINANCIAL INCput	$4,007,000	–	100,000	–	0.03%	–
	New	VANECK VECTORS GOLD MINERS Eput	$3,347,000	–	150,000	–	0.02%	–
	New	BRISTOL-MYERS SQUIBB COput	$3,320,000	–	60,000	–	0.02%	–
	New	VANECK VECTORS JUNIOR GOLD Mput	$3,270,000	–	100,000	–	0.02%	–
	New	AKAMAI TECHNOLOGIES INCput	$2,929,000	–	40,000	–	0.02%	–
	New	ADIENT PLCput	$2,951,000	–	60,000	–	0.02%	–
	New	REALOGY HOLDINGS CORPput	$2,736,000	–	120,000	–	0.02%	–
	New	SNAP INC - Aput	$2,618,000	–	200,000	–	0.02%	–
	New	BARRICK GOLD CORPput	$2,626,000	–	200,000	–	0.02%	–
AKG	New	ASANKO GOLD INC	$2,680,000	–	2,478,379	–	0.02%	–
ESRX	New	EXPRESS SCRIPTS HOLDING CO	$2,316,000	–	30,000	–	0.02%	–
VGZ	New	VISTA GOLD CORP	$2,217,000	–	3,203,217	–	0.02%	–
TISI	New	TEAM INC	$1,908,000	–	82,598	–	0.01%	–
MAG	New	MAG SILVER CORP	$1,722,000	–	159,203	–	0.01%	–
	New	BARRICK GOLD CORPcall	$1,313,000	–	100,000	–	0.01%	–
C	New	CITIGROUP INC	$1,355,000	–	20,251	–	0.01%	–
GG	New	GOLDCORP INC	$1,371,000	–	100,000	–	0.01%	–
CVA	New	COVANTA HOLDING CORP	$1,165,000	–	70,607	–	0.01%	–
NTRS	New	NORTHERN TRUST CORP	$1,029,000	–	10,000	–	0.01%	–
JPM	New	JPMORGAN CHASE & CO	$1,062,000	–	10,193	–	0.01%	–
ORCL	New	ORACLE CORP	$921,000	–	20,912	–	0.01%	–
FDX	New	FEDEX CORP	$761,000	–	3,350	–	0.01%	–
CSX	New	CSX CORP	$797,000	–	12,500	–	0.01%	–
LNC	New	LINCOLN NATIONAL CORP	$703,000	–	11,300	–	0.01%	–
PFE	New	PFIZER INC	$806,000	–	22,207	–	0.01%	–
GOOG	New	ALPHABET INC-CL C	$614,000	–	550	–	0.00%	–
ANTM	New	ANTHEM INC	$571,000	–	2,400	–	0.00%	–
CMTL	New	COMTECH TELECOMMUNICATIONS	$592,000	–	18,576	–	0.00%	–
URI	New	UNITED RENTALS INC	$561,000	–	3,800	–	0.00%	–
ADI	New	ANALOG DEVICES INC	$528,000	–	5,500	–	0.00%	–
DAL	New	DELTA AIR LINES INC	$590,000	–	11,910	–	0.00%	–
ETN	New	EATON CORP PLC	$419,000	–	5,608	–	0.00%	–
KBR	New	KBR INC	$440,000	–	24,572	–	0.00%	–
GS	New	GOLDMAN SACHS GROUP INC	$482,000	–	2,183	–	0.00%	–
CTSH	New	COGNIZANT TECH SOLUTIONS-A	$372,000	–	4,706	–	0.00%	–
OMC	New	OMNICOM GROUP	$379,000	–	4,970	–	0.00%	–
AVT	New	AVNET INC	$403,000	–	9,401	–	0.00%	–
EOG	New	EOG RESOURCES INC	$398,000	–	3,200	–	0.00%	–
WPX	New	WPX ENERGY INC	$449,000	–	24,900	–	0.00%	–
VNO	New	VORNADO REALTY TRUST	$444,000	–	6,012	–	0.00%	–
HES	New	HESS CORP	$444,000	–	6,640	–	0.00%	–
F	New	FORD MOTOR CO	$412,000	–	37,261	–	0.00%	–
GLW	New	CORNING INC	$353,000	–	12,835	–	0.00%	–
TEX	New	TEREX CORP	$292,000	–	6,932	–	0.00%	–
DLTR	New	DOLLAR TREE INC	$295,000	–	3,476	–	0.00%	–
LEN	New	LENNAR CORP-A	$321,000	–	6,106	–	0.00%	–
MCK	New	MCKESSON CORP	$244,000	–	1,832	–	0.00%	–
MET	New	METLIFE INC	$285,000	–	6,529	–	0.00%	–
MS	New	MORGAN STANLEY	$268,000	–	5,653	–	0.00%	–
MUR	New	MURPHY OIL CORP	$231,000	–	6,846	–	0.00%	–
FHN	New	FIRST HORIZON NATIONAL CORP	$299,000	–	16,773	–	0.00%	–
FCNCA	New	FIRST CITIZENS BCSHS -CL A	$256,000	–	634	–	0.00%	–
EIX	New	EDISON INTERNATIONAL	$301,000	–	4,755	–	0.00%	–
DOV	New	DOVER CORP	$240,000	–	3,274	–	0.00%	–
PAAS	New	PAN AMERICAN SILVER CORP	$242,000	–	13,486	–	0.00%	–
PBI	New	PITNEY BOWES INC	$223,000	–	26,060	–	0.00%	–
IOSP	New	INNOSPEC INC	$258,000	–	3,364	–	0.00%	–
DISH	New	DISH NETWORK CORP-A	$272,000	–	8,079	–	0.00%	–
RDSA	New	ROYAL DUTCH SHELL-SPON ADR-A	$310,000	–	4,480	–	0.00%	–
R	New	RYDER SYSTEM INC	$275,000	–	3,829	–	0.00%	–
DHI	New	DR HORTON INC	$226,000	–	5,500	–	0.00%	–
VZ	New	VERIZON COMMUNICATIONS INC	$351,000	–	6,980	–	0.00%	–
CNO	New	CNO FINANCIAL GROUP INC	$231,000	–	12,125	–	0.00%	–
VRTS	New	VIRTUS INVESTMENT PARTNERS	$293,000	–	2,287	–	0.00%	–
VOYA	New	VOYA FINANCIAL INC	$240,000	–	5,097	–	0.00%	–
WFC	New	WELLS FARGO & CO	$250,000	–	4,501	–	0.00%	–
BAC	New	BANK OF AMERICA CORP	$297,000	–	10,528	–	0.00%	–
XRX	New	XEROX CORP	$287,000	–	11,967	–	0.00%	–
ATH	New	ATHENE HOLDING LTD-CLASS A	$263,000	–	6,000	–	0.00%	–
AXS	New	AXIS CAPITAL HOLDINGS LTD	$252,000	–	4,527	–	0.00%	–
AIG	New	AMERICAN INTERNATIONAL GROUP	$278,000	–	5,248	–	0.00%	–
AAL	New	AMERICAN AIRLINES GROUP INC	$273,000	–	7,200	–	0.00%	–
MYL	New	MYLAN NV	$317,000	–	8,783	–	0.00%	–
IP	New	INTERNATIONAL PAPER CO	$233,000	–	4,475	–	0.00%	–
JELD	New	JELD-WEN HOLDING INC	$321,000	–	11,222	–	0.00%	–
CVE	New	CENOVUS ENERGY INC	$222,000	–	21,382	–	0.00%	–
COF	New	CAPITAL ONE FINANCIAL CORP	$310,000	–	3,370	–	0.00%	–
NG	New	NOVAGOLD RESOURCES INC	$201,000	–	45,178	–	0.00%	–
UBS	New	UBS GROUP AG-REG	$163,000	–	10,625	–	0.00%	–
AMGN	New	AMGEN INC	$210,000	–	1,139	–	0.00%	–
GOV	New	GOVERNMENT PROPERTIES INCOME	$187,000	–	11,790	–	0.00%	–
BEN	New	FRANKLIN RESOURCES INC	$208,000	–	6,486	–	0.00%	–
HPR	New	HIGHPOINT RESOURCES CORP	$111,000	–	18,195	–	0.00%	–
FCEL	New	FUELCELL ENERGY INC	$90,000	–	67,825	–	0.00%	–
NXPI	New	NXP SEMICONDUCTORS NV	$216,000	–	1,980	–	0.00%	–
BKD	New	BROOKDALE SENIOR LIVING INC	$165,000	–	18,174	–	0.00%	–
ALO	New	ALIO GOLD INC	$190,000	–	130,891	–	0.00%	–
TNK	New	TEEKAY TANKERS LTD-CLASS A	$128,000	–	109,307	–	0.00%	–
CHK	New	CHESAPEAKE ENERGY CORP	$64,000	–	12,200	–	0.00%	–
LODE	New	COMSTOCK MINING INC	$57,000	–	219,356	–	0.00%	–
TTI	New	TETRA TECHNOLOGIES INC	$67,000	–	14,991	–	0.00%	–

Q4 2017

			Value		Shares		↓ Weighting
NG	Exit	NOVAGOLD RESOURCES INC	$0	–	-13,166	–	0.00%	–
TECK	Exit	TECK RESOURCES LTD-CLS B	$0	–	-9,515	–	-0.00%	–
ICON	Exit	ICONIX BRAND GROUP INC	$0	–	-24,801	–	-0.00%	–
SNR	Exit	NEW SENIOR INVESTMENT GROUP	$0	–	-13,245	–	-0.00%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-2,875	–	-0.00%	–
STT	Exit	STATE STREET CORP	$0	–	-2,302	–	-0.00%	–
MON	Exit	MONSANTO CO	$0	–	-1,705	–	-0.00%	–
UBS	Exit	UBS GROUP AG-REG	$0	–	-10,625	–	-0.00%	–
FCEL	Exit	FUELCELL ENERGY INC	$0	–	-52,535	–	-0.00%	–
SPNV	Exit	SUPERIOR ENERGY SERVICES INC	$0	–	-10,105	–	-0.00%	–
GOV	Exit	GOVERNMENT PROPERTIES INCOME	$0	–	-10,726	–	-0.00%	–
BP	Exit	BP PLC-SPONS ADR	$0	–	-5,665	–	-0.00%	–
HSC	Exit	HARSCO CORP	$0	–	-10,945	–	-0.00%	–
TNK	Exit	TEEKAY TANKERS LTD-CLASS A	$0	–	-87,990	–	-0.00%	–
EZPW	Exit	EZCORP INC-CL A	$0	–	-17,356	–	-0.00%	–
CVE	Exit	CENOVUS ENERGY INC	$0	–	-21,382	–	-0.00%	–
HLT	Exit	HILTON WORLDWIDE HOLDINGS IN	$0	–	-3,225	–	-0.00%	–
MET	Exit	METLIFE INC	$0	–	-4,525	–	-0.00%	–
PAAS	Exit	PAN AMERICAN SILVER CORP	$0	–	-13,486	–	-0.00%	–
PSTB	Exit	PARK STERLING CORP	$0	–	-15,496	–	-0.00%	–
ESV	Exit	ENSCO PLC-CL A	$0	–	-13,805	–	-0.00%	–
LODE	Exit	COMSTOCK MINING INC	$0	–	-1,584,982	–	-0.00%	–
MUR	Exit	MURPHY OIL CORP	$0	–	-9,695	–	-0.00%	–
MCK	Exit	MCKESSON CORP	$0	–	-1,832	–	-0.00%	–
CMCSA	Exit	COMCAST CORP-CLASS A	$0	–	-7,000	–	-0.00%	–
GRPU	Exit	GRANITE REAL ESTATE INVESTMENT	$0	–	-6,445	–	-0.00%	–
BEN	Exit	FRANKLIN RESOURCES INC	$0	–	-6,486	–	-0.00%	–
EOG	Exit	EOG RESOURCES INC	$0	–	-3,200	–	-0.00%	–
IOSP	Exit	INNOSPEC INC	$0	–	-5,792	–	-0.00%	–
AIG	Exit	AMERICAN INTERNATIONAL GROUP	$0	–	-4,332	–	-0.00%	–
MYL	Exit	MYLAN NV	$0	–	-10,260	–	-0.00%	–
MS	Exit	MORGAN STANLEY	$0	–	-6,395	–	-0.00%	–
TUP	Exit	TUPPERWARE BRANDS CORP	$0	–	-3,882	–	-0.00%	–
OMC	Exit	OMNICOM GROUP	$0	–	-4,118	–	-0.00%	–
HDS	Exit	HD SUPPLY HOLDINGS INC	$0	–	-7,000	–	-0.00%	–
ETN	Exit	EATON CORP PLC	$0	–	-4,293	–	-0.00%	–
CNO	Exit	CNO FINANCIAL GROUP INC	$0	–	-12,825	–	-0.00%	–
COG	Exit	CABOT OIL & GAS CORP	$0	–	-11,200	–	-0.00%	–
F	Exit	FORD MOTOR CO	$0	–	-20,544	–	-0.00%	–
FCNCA	Exit	FIRST CITIZENS BCSHS -CL A	$0	–	-690	–	-0.00%	–
VNO	Exit	VORNADO REALTY TRUST	$0	–	-3,652	–	-0.00%	–
WPX	Exit	WPX ENERGY INC	$0	–	-24,900	–	-0.00%	–
ATH	Exit	ATHENE HOLDING LTD-CLASS A	$0	–	-6,000	–	-0.00%	–
BAC	Exit	BANK OF AMERICA CORP	$0	–	-13,448	–	-0.00%	–
FHN	Exit	FIRST HORIZON NATIONAL CORP	$0	–	-16,973	–	-0.00%	–
DOV	Exit	DOVER CORP	$0	–	-2,950	–	-0.00%	–
AVT	Exit	AVNET INC	$0	–	-9,401	–	-0.00%	–
VOYA	Exit	VOYA FINANCIAL INC	$0	–	-7,805	–	-0.00%	–
NXPI	Exit	NXP SEMICONDUCTORS NV	$0	–	-3,035	–	-0.00%	–
CAA	Exit	CALATLANTIC GROUP INC	$0	–	-6,900	–	-0.00%	–
COF	Exit	CAPITAL ONE FINANCIAL CORP	$0	–	-3,370	–	-0.00%	–
CTSH	Exit	COGNIZANT TECH SOLUTIONS-A	$0	–	-4,990	–	-0.00%	–
GOOG	Exit	ALPHABET INC-CL C	$0	–	-550	–	-0.00%	–
CSX	Exit	CSX CORP	$0	–	-8,000	–	-0.00%	–
BKD	Exit	BROOKDALE SENIOR LIVING INC	$0	–	-39,993	–	-0.00%	–
VRTS	Exit	VIRTUS INVESTMENT PARTNERS	$0	–	-3,687	–	-0.00%	–
ADI	Exit	ANALOG DEVICES INC	$0	–	-5,500	–	-0.00%	–
GLNG	Exit	GOLAR LNG LTD	$0	–	-23,630	–	-0.00%	–
TEX	Exit	TEREX CORP	$0	–	-9,533	–	-0.00%	–
RDSA	Exit	ROYAL DUTCH SHELL-SPON ADR-A	$0	–	-7,293	–	-0.00%	–
CMTL	Exit	COMTECH TELECOMMUNICATIONS	$0	–	-21,165	–	-0.00%	–
KBR	Exit	KBR INC	$0	–	-25,647	–	-0.00%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-6,415	–	-0.00%	–
CRL	Exit	CHARLES RIVER LABORATORIES	$0	–	-6,000	–	-0.00%	–
WHR	Exit	WHIRLPOOL CORP	$0	–	-3,475	–	-0.00%	–
URI	Exit	UNITED RENTALS INC	$0	–	-4,000	–	-0.00%	–
ALO	Exit	ALIO GOLD INC	$0	–	-130,891	–	-0.00%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-2,519	–	-0.00%	–
AAL	Exit	AMERICAN AIRLINES GROUP INC	$0	–	-13,100	–	-0.00%	–
HES	Exit	HESS CORP	$0	–	-14,749	–	-0.00%	–
DAL	Exit	DELTA AIR LINES INC	$0	–	-14,510	–	-0.00%	–
	Exit	CAMECO CORPput	$0	–	-80,000	–	-0.01%	–
FDX	Exit	FEDEX CORP	$0	–	-3,550	–	-0.01%	–
NTRS	Exit	NORTHERN TRUST CORP	$0	–	-10,000	–	-0.01%	–
SMG	Exit	SCOTTS MIRACLE-GRO CO	$0	–	-10,000	–	-0.01%	–
LNC	Exit	LINCOLN NATIONAL CORP	$0	–	-13,500	–	-0.01%	–
AET	Exit	AETNA INC	$0	–	-5,600	–	-0.01%	–
	Exit	MACY'S INCput	$0	–	-40,000	–	-0.01%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-11,506	–	-0.01%	–
CVA	Exit	COVANTA HOLDING CORP	$0	–	-70,607	–	-0.01%	–
ORCL	Exit	ORACLE CORP	$0	–	-25,212	–	-0.01%	–
C	Exit	CITIGROUP INC	$0	–	-20,528	–	-0.01%	–
TSCO	Exit	TRACTOR SUPPLY COMPANY	$0	–	-21,200	–	-0.01%	–
GMWSB	Exit	GENERAL MOTORS CO.warrant	$0	–	-40,800	–	-0.01%	–
MAG	Exit	MAG SILVER CORP	$0	–	-159,203	–	-0.01%	–
	Exit	INFINERA CORPput	$0	–	-190,000	–	-0.01%	–
AKG	Exit	ASANKO GOLD INC	$0	–	-2,478,379	–	-0.02%	–
	Exit	AMERICAN INTERNATIONAL GROUPput	$0	–	-40,000	–	-0.02%	–
VGZ	Exit	VISTA GOLD CORP	$0	–	-3,203,217	–	-0.02%	–
	Exit	SNAP INC - Aput	$0	–	-200,000	–	-0.02%	–
TISI	Exit	TEAM INC	$0	–	-237,500	–	-0.02%	–
BACWSB	Exit	BANK OF AMERICA CORPwarrant	$0	–	-125,000	–	-0.02%	–
	Exit	VANECK VECTORS JUNIOR GOLD Mput	$0	–	-100,000	–	-0.02%	–
	Exit	VANECK VECTORS GOLD MINERSput	$0	–	-150,000	–	-0.02%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-218,005	–	-0.02%	–
	Exit	PFIZER INCput	$0	–	-100,000	–	-0.02%	–
	Exit	TARGET CORPput	$0	–	-60,000	–	-0.02%	–
	Exit	PROCTER & GAMBLE CO/THEput	$0	–	-40,000	–	-0.02%	–
KMX	Exit	CARMAX INC	$0	–	-50,000	–	-0.02%	–
	Exit	BRISTOL-MYERS SQUIBB COput	$0	–	-60,000	–	-0.02%	–
INFN	Exit	INFINERA CORP	$0	–	-430,000	–	-0.02%	–
	Exit	REALOGY HOLDINGS CORPput	$0	–	-120,000	–	-0.02%	–
	Exit	ILLUMINA INCput	$0	–	-20,000	–	-0.02%	–
	Exit	GENERAL MOTORS CO.put	$0	–	-100,000	–	-0.03%	–
	Exit	PNC FINANCIAL SERVICES GROUPput	$0	–	-30,000	–	-0.03%	–
CLDPQ	Exit	CLOUD PEAK ENERGY INC	$0	–	-1,200,000	–	-0.03%	–
SSRM	Exit	SSR MINING INC	$0	–	-413,118	–	-0.03%	–
HPE	Exit	HEWLETT PACKARD ENTERPRIS	$0	–	-314,832	–	-0.03%	–
	Exit	SOTHEBY'Sput	$0	–	-100,000	–	-0.03%	–
	Exit	HALLIBURTON COput	$0	–	-100,000	–	-0.03%	–
AGI	Exit	ALAMOS GOLD INC-CLASS A	$0	–	-705,267	–	-0.03%	–
	Exit	AMERICAN AIRLINES GROUP INCput	$0	–	-100,000	–	-0.03%	–
	Exit	TRACTOR SUPPLY COMPANYput	$0	–	-80,000	–	-0.03%	–
LAUR	Exit	LAUREATE EDUCATION INC-A	$0	–	-350,000	–	-0.03%	–
	Exit	ELI LILLY & COput	$0	–	-60,000	–	-0.03%	–
	Exit	BANK OF NEW YORK MELLON CORPput	$0	–	-100,000	–	-0.03%	–
	Exit	WELLS FARGO & COput	$0	–	-100,000	–	-0.04%	–
	Exit	NORTHERN TRUST CORPput	$0	–	-60,000	–	-0.04%	–
	Exit	STATE STREET CORPput	$0	–	-60,000	–	-0.04%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-70,000	–	-0.04%	–
	Exit	THE WALT DISNEY CO.put	$0	–	-60,000	–	-0.04%	–
XYL	Exit	XYLEM INC	$0	–	-95,000	–	-0.04%	–
	Exit	LYONDELLBASELL INDU-CL Aput	$0	–	-60,000	–	-0.04%	–
SITE	Exit	SITEONE LANDSCAPE SUPPLY INC	$0	–	-105,000	–	-0.04%	–
	Exit	TIME WARNER INCput	$0	–	-60,000	–	-0.04%	–
	Exit	AUTOMATIC DATA PROCESSINGput	$0	–	-60,000	–	-0.04%	–
	Exit	SCHWAB CHARLES CORPput	$0	–	-150,000	–	-0.04%	–
DG	Exit	DOLLAR GENERAL CORP	$0	–	-90,000	–	-0.05%	–
ANTM	Exit	ANTHEM INC	$0	–	-40,600	–	-0.05%	–
	Exit	DELPHI AUTOMOTIVE PLCput	$0	–	-80,000	–	-0.05%	–
	Exit	BARRICK GOLD CORPput	$0	–	-500,000	–	-0.05%	–
	Exit	BARRICK GOLD CORPcall	$0	–	-500,000	–	-0.05%	–
	Exit	LOWE'S COS INCput	$0	–	-100,000	–	-0.05%	–
	Exit	CONSTELLATION BRANDS INC-Aput	$0	–	-40,000	–	-0.05%	–
	Exit	CARMAX INCput	$0	–	-120,000	–	-0.06%	–
PVG	Exit	PRETIUM RESOURCES INC	$0	–	-1,012,145	–	-0.06%	–
ESRX	Exit	EXPRESS SCRIPTS HOLDING CO	$0	–	-151,763	–	-0.06%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-131,000	–	-0.06%	–
LYB	Exit	LYONDELLBASELL INDU-CL A	$0	–	-98,400	–	-0.06%	–
PFE	Exit	PFIZER INC	$0	–	-289,547	–	-0.07%	–
HCC	Exit	WARRIOR MET COAL INC	$0	–	-438,746	–	-0.07%	–
GG	Exit	GOLDCORP INC	$0	–	-816,210	–	-0.07%	–
GM	Exit	GENERAL MOTORS CO.	$0	–	-259,283	–	-0.07%	–
MTSC	Exit	MTS SYSTEMS CORP	$0	–	-204,224	–	-0.07%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-124,910	–	-0.07%	–
	Exit	WALGREENS BOOTS ALLIANCE INCput	$0	–	-140,000	–	-0.07%	–
AGN	Exit	ALLERGAN PLC	$0	–	-56,510	–	-0.07%	–
HCA	Exit	HCA HEALTHCARE INC	$0	–	-150,000	–	-0.08%	–
WLTW	Exit	WILLIS TOWERS WATSON PLC	$0	–	-80,000	–	-0.08%	–
AXTA	Exit	AXALTA COATING SYSTEMS LTD	$0	–	-445,000	–	-0.08%	–
	Exit	HCA HEALTHCARE INCput	$0	–	-170,000	–	-0.09%	–
LKQ	Exit	LKQ CORP	$0	–	-385,000	–	-0.09%	–
RLGY	Exit	REALOGY HOLDINGS CORP	$0	–	-430,000	–	-0.09%	–
AER	Exit	AERCAP HOLDINGS NV	$0	–	-320,000	–	-0.10%	–
MPC	Exit	MARATHON PETROLEUM CORP	$0	–	-300,000	–	-0.11%	–
CSCO	Exit	CISCO SYSTEMS INC	$0	–	-550,000	–	-0.12%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-230,000	–	-0.12%	–
HTZGQ	Exit	HERTZ GLOBAL HOLDINGS INC	$0	–	-1,150,000	–	-0.16%	–
SPY	Exit	SPDR S&P 500 ETF TRUST	$0	–	-125,000	–	-0.20%	–
DOFSQ	Exit	DIAMOND OFFSHORE DRILLING	$0	–	-73,119,047	–	-6.74%	–
BWP	Exit	BWP COMMON UNITS	$0	–	-125,586,133	–	-11.74%	–
CNA	Exit	CNA FINANCIAL CORP	$0	–	-242,649,773	–	-77.57%	–

Q3 2017

			Value		Shares		↓ Weighting
CVS	Sell	CVS HEALTH CORP	$18,704,000	-7.0%	230,000	-8.0%	0.12%	-8.5%
CSCO	Buy	CISCO SYSTEMS INC	$18,497,000	+18.2%	550,000	+10.0%	0.12%	+16.8%
MPC	Sell	MARATHON PETROLEUM CORP	$16,824,000	-1.1%	300,000	-7.7%	0.11%	-2.7%
AER	Sell	AERCAP HOLDINGS NV	$16,355,000	-2.2%	320,000	-11.1%	0.10%	-3.7%
RLGY	Sell	REALOGY HOLDINGS CORP	$14,169,000	-28.4%	430,000	-29.5%	0.09%	-29.7%
LKQ	Sell	LKQ CORP	$13,856,000	+5.1%	385,000	-3.8%	0.09%	+3.5%
AXTA	Sell	AXALTA COATING SYSTEMS LTD	$12,869,000	-17.2%	445,000	-8.2%	0.08%	-18.0%
WLTW	Sell	WILLIS TOWERS WATSON PLC	$12,338,000	-15.2%	80,000	-20.0%	0.08%	-17.0%
HCA	Buy	HCA HEALTHCARE INC	$11,939,000	+19.1%	150,000	+30.4%	0.08%	+16.9%
AGN	Buy	ALLERGAN PLC	$11,582,000	+5.9%	56,510	+25.6%	0.07%	+4.2%
MTSC	Buy	MTS SYSTEMS CORP	$10,916,000	+5.4%	204,224	+2.1%	0.07%	+3.0%
WDC	Sell	WESTERN DIGITAL CORP	$10,792,000	-18.7%	124,910	-16.7%	0.07%	-19.8%
GM	Buy	GENERAL MOTORS CO.	$10,470,000	+17.5%	259,283	+1.6%	0.07%	+15.5%
HCC	Sell	WARRIOR MET COAL INC	$10,341,000	+11.0%	438,746	-19.3%	0.07%	+10.0%
PFE	Sell	PFIZER INC	$10,337,000	-7.0%	289,547	-12.5%	0.07%	-8.3%
LYB	Sell	LYONDELLBASELL INDU-CL A	$9,747,000	-25.2%	98,400	-36.3%	0.06%	-26.2%
ESRX	Sell	EXPRESS SCRIPTS HOLDING CO	$9,610,000	-41.5%	151,763	-41.0%	0.06%	-42.5%
	Buy	CARMAX INCput	$9,097,000	+44.3%	120,000	+20.0%	0.06%	+41.5%
	New	DELPHI AUTOMOTIVE PLCput	$7,872,000	–	80,000	–	0.05%	–
ANTM	Sell	ANTHEM INC	$7,709,000	-4.9%	40,600	-5.8%	0.05%	-5.8%
DG	Sell	DOLLAR GENERAL CORP	$7,295,000	-22.2%	90,000	-30.8%	0.05%	-24.6%
	New	AUTOMATIC DATA PROCESSINGput	$6,559,000	–	60,000	–	0.04%	–
SITE	Sell	SITEONE LANDSCAPE SUPPLY INC	$6,101,000	-10.5%	105,000	-19.8%	0.04%	-11.4%
XYL	Sell	XYLEM INC	$5,950,000	+7.3%	95,000	-5.0%	0.04%	+5.6%
VRSK	New	VERISK ANALYTICS INC	$5,823,000	–	70,000	–	0.04%	–
	New	STATE STREET CORPput	$5,732,000	–	60,000	–	0.04%	–
	New	NORTHERN TRUST CORPput	$5,516,000	–	60,000	–	0.04%	–
	New	TRACTOR SUPPLY COMPANYput	$5,063,000	–	80,000	–	0.03%	–
LAUR	New	LAUREATE EDUCATION INC-A	$5,093,000	–	350,000	–	0.03%	–
HPE	Buy	HEWLETT PACKARD ENTERPRIS	$4,631,000	+32.9%	314,832	+49.9%	0.03%	+26.1%
SSRM	New	SSR MINING INC	$4,383,000	–	413,118	–	0.03%	–
	New	REALOGY HOLDINGS CORPput	$3,954,000	–	120,000	–	0.02%	–
KMX	Sell	CARMAX INC	$3,791,000	-48.2%	50,000	-56.9%	0.02%	-48.9%
	New	VANECK VECTORS GOLD MINERSput	$3,444,000	–	150,000	–	0.02%	–
TISI	New	TEAM INC	$3,171,000	–	237,500	–	0.02%	–
	New	SNAP INC - Aput	$2,908,000	–	200,000	–	0.02%	–
C	Sell	CITIGROUP INC	$1,493,000	-7.0%	20,528	-14.5%	0.01%	-10.0%
TSCO	Sell	TRACTOR SUPPLY COMPANY	$1,342,000	-72.5%	21,200	-76.4%	0.01%	-71.9%
CVA	Buy	COVANTA HOLDING CORP	$1,049,000	+13.9%	70,607	+1.2%	0.01%	+16.7%
SMG	New	SCOTTS MIRACLE-GRO CO	$973,000	–	10,000	–	0.01%	–
NTRS	New	NORTHERN TRUST CORP	$919,000	–	10,000	–	0.01%	–
CRL	New	CHARLES RIVER LABORATORIES	$648,000	–	6,000	–	0.00%	–
WHR	Buy	WHIRLPOOL CORP	$641,000	+78.6%	3,475	+85.3%	0.00%	+100.0%
HES	Buy	HESS CORP	$692,000	+25.4%	14,749	+17.3%	0.00%	0.0%
KBR	Sell	KBR INC	$459,000	+10.6%	25,647	-5.9%	0.00%	0.0%
RDSA	Buy	ROYAL DUTCH SHELL-SPON ADR-A	$442,000	+15.7%	7,293	+1.7%	0.00%	+50.0%
TEX	Sell	TEREX CORP	$429,000	+11.4%	9,533	-7.2%	0.00%	+50.0%
ADI	New	ANALOG DEVICES INC	$474,000	–	5,500	–	0.00%	–
DWDP	New	DOWDUPONT INC	$444,000	–	6,415	–	0.00%	–
GLNG	Buy	GOLAR LNG LTD	$534,000	+27.1%	23,630	+25.3%	0.00%	0.0%
BKD	Buy	BROOKDALE SENIOR LIVING INC	$424,000	+84.3%	39,993	+155.8%	0.00%	+200.0%
HDS	New	HD SUPPLY HOLDINGS INC	$252,000	–	7,000	–	0.00%	–
TUP	Buy	TUPPERWARE BRANDS CORP	$240,000	+11.1%	3,882	+26.0%	0.00%	+100.0%
OMC	Buy	OMNICOM GROUP	$305,000	-4.4%	4,118	+7.1%	0.00%	0.0%
MCK	Buy	MCKESSON CORP	$281,000	0.0%	1,832	+7.3%	0.00%	0.0%
WPX	Buy	WPX ENERGY INC	$286,000	+138.3%	24,900	+100.8%	0.00%	+100.0%
ATH	Buy	ATHENE HOLDING LTD-CLASS A	$323,000	+44.8%	6,000	+33.3%	0.00%	+100.0%
CAA	Sell	CALATLANTIC GROUP INC	$253,000	-31.2%	6,900	-33.7%	0.00%	0.0%
COG	New	CABOT OIL & GAS CORP	$300,000	–	11,200	–	0.00%	–
ETN	Sell	EATON CORP PLC	$330,000	-34.1%	4,293	-33.3%	0.00%	-33.3%
CNO	Sell	CNO FINANCIAL GROUP INC	$299,000	+3.5%	12,825	-7.2%	0.00%	0.0%
IOSP	Buy	INNOSPEC INC	$357,000	+5.0%	5,792	+11.6%	0.00%	0.0%
MYL	Buy	MYLAN NV	$322,000	+44.4%	10,260	+78.5%	0.00%	+100.0%
GRPU	Sell	GRANITE REAL ESTATE INVESTMENT	$261,000	-14.4%	6,445	-15.7%	0.00%	0.0%
ESV	New	ENSCO PLC-CL A	$82,000	–	13,805	–	0.00%	–
HLT	New	HILTON WORLDWIDE HOLDINGS IN	$224,000	–	3,225	–	0.00%	–
PSTB	Sell	PARK STERLING CORP	$192,000	-9.0%	15,496	-12.9%	0.00%	0.0%
EZPW	Sell	EZCORP INC-CL A	$165,000	+10.7%	17,356	-10.5%	0.00%	0.0%
HSC	Sell	HARSCO CORP	$229,000	+19.9%	10,945	-7.6%	0.00%	0.0%
FCEL	Buy	FUELCELL ENERGY INC	$92,000	+196.8%	52,535	+112.5%	0.00%	–
BP	New	BP PLC-SPONS ADR	$218,000	–	5,665	–	0.00%	–
TECK	New	TECK RESOURCES LTD-CLS B	$201,000	–	9,515	–	0.00%	–
ON	Exit	ON SEMICONDUCTOR CORP	$0	–	-12,151	–	-0.00%	–
RGA	Exit	REINSURANCE GROUP OF AMERICA	$0	–	-3,050	–	-0.00%	–
TRV	Exit	TRAVELERS COS INC	$0	–	-3,950	–	-0.00%	–
APC	Exit	ANADARKO PETROLEUM CORP	$0	–	-11,300	–	-0.00%	–
DOW	Exit	DOW CHEMICAL CO/THE	$0	–	-6,415	–	-0.00%	–
SPLS	Exit	STAPLES INC	$0	–	-49,063	–	-0.00%	–
DYN	Exit	DYNEGY INC	$0	–	-150,000	–	-0.01%	–
MAN	Exit	MANPOWERGROUP INC	$0	–	-12,000	–	-0.01%	–
	Exit	VANECK VECTORS GOLD MINERSput	$0	–	-150,000	–	-0.02%	–
CPN	Exit	CALPINE CORP	$0	–	-250,000	–	-0.02%	–
NRG	Exit	NRG ENERGY INC	$0	–	-204,529	–	-0.02%	–
SSRI	Exit	SILVER STANDARD RESOURCES	$0	–	-413,118	–	-0.03%	–
KGC	Exit	KINROSS GOLD CORP	$0	–	-1,105,257	–	-0.03%	–

Q2 2017

			Value		Shares		↓ Weighting
CNA	New	CNA FINANCIAL CORP	$11,829,176,000	–	242,649,773	–	76.47%	–
BWP	New	BWP COMMON UNITS	$2,261,806,000	–	125,586,133	–	14.62%	–
DOFSQ	New	DIAMOND OFFSHORE DRILLING	$791,879,000	–	73,119,047	–	5.12%	–
SPY	New	SPDR S&P 500 ETF TRUST	$30,225,000	–	125,000	–	0.20%	–
CVS	New	CVS HEALTH CORP	$20,115,000	–	250,000	–	0.13%	–
RLGY	New	REALOGY HOLDINGS CORP	$19,795,000	–	610,000	–	0.13%	–
MPC	New	MARATHON PETROLEUM CORP	$17,007,000	–	325,000	–	0.11%	–
AER	New	AERCAP HOLDINGS NV	$16,715,000	–	360,000	–	0.11%	–
ESRX	New	EXPRESS SCRIPTS HOLDING CO	$16,417,000	–	257,165	–	0.11%	–
CSCO	New	CISCO SYSTEMS INC	$15,650,000	–	500,000	–	0.10%	–
AXTA	New	AXALTA COATING SYSTEMS LTD	$15,539,000	–	485,000	–	0.10%	–
	New	HCA HEALTHCARE INCput	$14,824,000	–	170,000	–	0.10%	–
WLTW	New	WILLIS TOWERS WATSON PLC	$14,546,000	–	100,000	–	0.09%	–
WDC	New	WESTERN DIGITAL CORP	$13,282,000	–	149,910	–	0.09%	–
LKQ	New	LKQ CORP	$13,180,000	–	400,000	–	0.08%	–
HTZGQ	New	HERTZ GLOBAL HOLDINGS INC	$13,225,000	–	1,150,000	–	0.08%	–
LYB	New	LYONDELLBASELL INDU-CL A	$13,030,000	–	154,400	–	0.08%	–
PFE	New	PFIZER INC	$11,121,000	–	331,077	–	0.07%	–
	New	WALGREENS BOOTS ALLIANCE INCput	$10,963,000	–	140,000	–	0.07%	–
AGN	New	ALLERGAN PLC	$10,939,000	–	45,000	–	0.07%	–
GG	New	GOLDCORP INC	$10,537,000	–	816,210	–	0.07%	–
MTSC	New	MTS SYSTEMS CORP	$10,360,000	–	200,000	–	0.07%	–
HCA	New	HCA HEALTHCARE INC	$10,028,000	–	115,000	–	0.06%	–
PVG	New	PRETIUM RESOURCES INC	$9,728,000	–	1,012,145	–	0.06%	–
DG	New	DOLLAR GENERAL CORP	$9,372,000	–	130,000	–	0.06%	–
HCC	New	WARRIOR MET COAL INC	$9,314,000	–	543,746	–	0.06%	–
GM	New	GENERAL MOTORS CO.	$8,913,000	–	255,180	–	0.06%	–
MSFT	New	MICROSOFT CORP	$9,030,000	–	131,000	–	0.06%	–
ANTM	New	ANTHEM INC	$8,108,000	–	43,100	–	0.05%	–
	New	BARRICK GOLD CORPput	$7,955,000	–	500,000	–	0.05%	–
	New	BARRICK GOLD CORPcall	$7,955,000	–	500,000	–	0.05%	–
	New	LOWE'S COS INCput	$7,753,000	–	100,000	–	0.05%	–
	New	CONSTELLATION BRANDS INC-Aput	$7,749,000	–	40,000	–	0.05%	–
KMX	New	CARMAX INC	$7,315,000	–	116,000	–	0.05%	–
SITE	New	SITEONE LANDSCAPE SUPPLY INC	$6,815,000	–	130,900	–	0.04%	–
	New	SCHWAB CHARLES CORPput	$6,444,000	–	150,000	–	0.04%	–
	New	THE WALT DISNEY CO.put	$6,375,000	–	60,000	–	0.04%	–
	New	CARMAX INCput	$6,306,000	–	100,000	–	0.04%	–
	New	TIME WARNER INCput	$6,025,000	–	60,000	–	0.04%	–
XYL	New	XYLEM INC	$5,543,000	–	100,000	–	0.04%	–
	New	WELLS FARGO & COput	$5,541,000	–	100,000	–	0.04%	–
	New	SOTHEBY'Sput	$5,367,000	–	100,000	–	0.04%	–
	New	AMERICAN AIRLINES GROUP INCput	$5,032,000	–	100,000	–	0.03%	–
	New	LYONDELLBASELL INDU-CL Aput	$5,063,000	–	60,000	–	0.03%	–
	New	BANK OF NEW YORK MELLON CORPput	$5,102,000	–	100,000	–	0.03%	–
	New	ELI LILLY & COput	$4,938,000	–	60,000	–	0.03%	–
AGI	New	ALAMOS GOLD INC-CLASS A	$4,999,000	–	705,267	–	0.03%	–
TSCO	New	TRACTOR SUPPLY COMPANY	$4,879,000	–	90,000	–	0.03%	–
INFN	New	INFINERA CORP	$4,588,000	–	430,000	–	0.03%	–
KGC	New	KINROSS GOLD CORP	$4,493,000	–	1,105,257	–	0.03%	–
	New	HALLIBURTON COput	$4,271,000	–	100,000	–	0.03%	–
CLDPQ	New	CLOUD PEAK ENERGY INC	$4,236,000	–	1,200,000	–	0.03%	–
SSRI	New	SILVER STANDARD RESOURCES	$4,011,000	–	413,118	–	0.03%	–
AKG	New	ASANKO GOLD INC	$3,804,000	–	2,478,379	–	0.02%	–
	New	PNC FINANCIAL SERVICES GROUPput	$3,746,000	–	30,000	–	0.02%	–
NRG	New	NRG ENERGY INC	$3,522,000	–	204,529	–	0.02%	–
	New	GENERAL MOTORS CO.put	$3,493,000	–	100,000	–	0.02%	–
	New	PROCTER & GAMBLE CO/THEput	$3,486,000	–	40,000	–	0.02%	–
HPE	New	HEWLETT PACKARD ENTERPRIS	$3,485,000	–	210,038	–	0.02%	–
	New	PFIZER INCput	$3,359,000	–	100,000	–	0.02%	–
	New	BRISTOL-MYERS SQUIBB COput	$3,343,000	–	60,000	–	0.02%	–
GOLD	New	BARRICK GOLD CORP	$3,468,000	–	218,005	–	0.02%	–
	New	VANECK VECTORS JUNIOR GOLD Mput	$3,338,000	–	100,000	–	0.02%	–
	New	ILLUMINA INCput	$3,470,000	–	20,000	–	0.02%	–
CPN	New	CALPINE CORP	$3,383,000	–	250,000	–	0.02%	–
	New	VANECK VECTORS GOLD MINERSput	$3,312,000	–	150,000	–	0.02%	–
	New	TARGET CORPput	$3,137,000	–	60,000	–	0.02%	–
BACWSB	New	BANK OF AMERICA CORPwarrant	$3,033,000	–	125,000	–	0.02%	–
VGZ	New	VISTA GOLD CORP	$2,787,000	–	3,203,217	–	0.02%	–
	New	AMERICAN INTERNATIONAL GROUPput	$2,501,000	–	40,000	–	0.02%	–
	New	INFINERA CORPput	$2,027,000	–	190,000	–	0.01%	–
MAG	New	MAG SILVER CORP	$2,079,000	–	159,203	–	0.01%	–
C	New	CITIGROUP INC	$1,606,000	–	24,018	–	0.01%	–
MAN	New	MANPOWERGROUP INC	$1,340,000	–	12,000	–	0.01%	–
GMWSB	New	GENERAL MOTORS CO.warrant	$1,425,000	–	40,800	–	0.01%	–
ORCL	New	ORACLE CORP	$1,264,000	–	25,212	–	0.01%	–
DYN	New	DYNEGY INC	$1,241,000	–	150,000	–	0.01%	–
JPM	New	JPMORGAN CHASE & CO	$1,052,000	–	11,506	–	0.01%	–
CVA	New	COVANTA HOLDING CORP	$921,000	–	69,804	–	0.01%	–
LNC	New	LINCOLN NATIONAL CORP	$912,000	–	13,500	–	0.01%	–
	New	MACY'S INCput	$930,000	–	40,000	–	0.01%	–
AET	New	AETNA INC	$850,000	–	5,600	–	0.01%	–
FDX	New	FEDEX CORP	$772,000	–	3,550	–	0.01%	–
DAL	New	DELTA AIR LINES INC	$780,000	–	14,510	–	0.01%	–
	New	CAMECO CORPput	$728,000	–	80,000	–	0.01%	–
HES	New	HESS CORP	$552,000	–	12,574	–	0.00%	–
ALO	New	ALIO GOLD INC	$593,000	–	130,891	–	0.00%	–
AAL	New	AMERICAN AIRLINES GROUP INC	$659,000	–	13,100	–	0.00%	–
GS	New	GOLDMAN SACHS GROUP INC	$559,000	–	2,519	–	0.00%	–
CSX	New	CSX CORP	$436,000	–	8,000	–	0.00%	–
RGA	New	REINSURANCE GROUP OF AMERICA	$392,000	–	3,050	–	0.00%	–
DOW	New	DOW CHEMICAL CO/THE	$405,000	–	6,415	–	0.00%	–
CMTL	New	COMTECH TELECOMMUNICATIONS	$402,000	–	21,165	–	0.00%	–
SPLS	New	STAPLES INC	$494,000	–	49,063	–	0.00%	–
TRV	New	TRAVELERS COS INC	$500,000	–	3,950	–	0.00%	–
URI	New	UNITED RENTALS INC	$451,000	–	4,000	–	0.00%	–
VRTS	New	VIRTUS INVESTMENT PARTNERS	$409,000	–	3,687	–	0.00%	–
KBR	New	KBR INC	$415,000	–	27,258	–	0.00%	–
APC	New	ANADARKO PETROLEUM CORP	$512,000	–	11,300	–	0.00%	–
ETN	New	EATON CORP PLC	$501,000	–	6,440	–	0.00%	–
GLNG	New	GOLAR LNG LTD	$420,000	–	18,863	–	0.00%	–
GOOG	New	ALPHABET INC-CL C	$500,000	–	550	–	0.00%	–
VNO	New	VORNADO REALTY TRUST	$343,000	–	3,652	–	0.00%	–
VOYA	New	VOYA FINANCIAL INC	$288,000	–	7,805	–	0.00%	–
FHN	New	FIRST HORIZON NATIONAL CORP	$296,000	–	16,973	–	0.00%	–
CAA	New	CALATLANTIC GROUP INC	$368,000	–	10,400	–	0.00%	–
NXPI	New	NXP SEMICONDUCTORS NV	$332,000	–	3,035	–	0.00%	–
CNO	New	CNO FINANCIAL GROUP INC	$289,000	–	13,825	–	0.00%	–
EOG	New	EOG RESOURCES INC	$290,000	–	3,200	–	0.00%	–
WHR	New	WHIRLPOOL CORP	$359,000	–	1,875	–	0.00%	–
FCNCA	New	FIRST CITIZENS BCSHS -CL A	$257,000	–	690	–	0.00%	–
BAC	New	BANK OF AMERICA CORP	$326,000	–	13,448	–	0.00%	–
AVT	New	AVNET INC	$366,000	–	9,401	–	0.00%	–
MET	New	METLIFE INC	$249,000	–	4,525	–	0.00%	–
LODE	New	COMSTOCK MINING INC	$290,000	–	1,584,982	–	0.00%	–
MS	New	MORGAN STANLEY	$285,000	–	6,395	–	0.00%	–
MUR	New	MURPHY OIL CORP	$248,000	–	9,695	–	0.00%	–
BEN	New	FRANKLIN RESOURCES INC	$291,000	–	6,486	–	0.00%	–
TEX	New	TEREX CORP	$385,000	–	10,271	–	0.00%	–
OMC	New	OMNICOM GROUP	$319,000	–	3,845	–	0.00%	–
CMCSA	New	COMCAST CORP-CLASS A	$272,000	–	7,000	–	0.00%	–
CTSH	New	COGNIZANT TECH SOLUTIONS-A	$331,000	–	4,990	–	0.00%	–
AIG	New	AMERICAN INTERNATIONAL GROUP	$271,000	–	4,332	–	0.00%	–
RDSA	New	ROYAL DUTCH SHELL-SPON ADR-A	$382,000	–	7,172	–	0.00%	–
IOSP	New	INNOSPEC INC	$340,000	–	5,192	–	0.00%	–
DOV	New	DOVER CORP	$237,000	–	2,950	–	0.00%	–
COF	New	CAPITAL ONE FINANCIAL CORP	$278,000	–	3,370	–	0.00%	–
MCK	New	MCKESSON CORP	$281,000	–	1,708	–	0.00%	–
GRPU	New	GRANITE REAL ESTATE INVESTMENT	$305,000	–	7,645	–	0.00%	–
PAAS	New	PAN AMERICAN SILVER CORP	$227,000	–	13,486	–	0.00%	–
EZPW	New	EZCORP INC-CL A	$149,000	–	19,391	–	0.00%	–
ATH	New	ATHENE HOLDING LTD-CLASS A	$223,000	–	4,500	–	0.00%	–
GOV	New	GOVERNMENT PROPERTIES INCOME	$196,000	–	10,726	–	0.00%	–
MYL	New	MYLAN NV	$223,000	–	5,747	–	0.00%	–
STT	New	STATE STREET CORP	$207,000	–	2,302	–	0.00%	–
SPNV	New	SUPERIOR ENERGY SERVICES INC	$105,000	–	10,105	–	0.00%	–
TUP	New	TUPPERWARE BRANDS CORP	$216,000	–	3,082	–	0.00%	–
UBS	New	UBS GROUP AG-REG	$180,000	–	10,625	–	0.00%	–
CVE	New	CENOVUS ENERGY INC	$158,000	–	21,382	–	0.00%	–
HSC	New	HARSCO CORP	$191,000	–	11,845	–	0.00%	–
ICON	New	ICONIX BRAND GROUP INC	$171,000	–	24,801	–	0.00%	–
WMT	New	WAL-MART STORES INC	$218,000	–	2,875	–	0.00%	–
TNK	New	TEEKAY TANKERS LTD-CLASS A	$165,000	–	87,990	–	0.00%	–
BKD	New	BROOKDALE SENIOR LIVING INC	$230,000	–	15,635	–	0.00%	–
WPX	New	WPX ENERGY INC	$120,000	–	12,400	–	0.00%	–
MON	New	MONSANTO CO	$202,000	–	1,705	–	0.00%	–
SNR	New	NEW SENIOR INVESTMENT GROUP	$133,000	–	13,245	–	0.00%	–
F	New	FORD MOTOR CO	$230,000	–	20,544	–	0.00%	–
PSTB	New	PARK STERLING CORP	$211,000	–	17,785	–	0.00%	–
ON	New	ON SEMICONDUCTOR CORP	$171,000	–	12,151	–	0.00%	–
NG	New	NOVAGOLD RESOURCES INC	$60,000	–	13,166	–	0.00%	–
FCEL	New	FUELCELL ENERGY INC	$31,000	–	24,720	–	0.00%	–

Q4 2016

			Value		Shares		↓ Weighting
NG	Exit	NOVAGOLD RESOURCES INC	$0	–	-13,166	–	-0.00%	–
JIVE	Exit	JIVE SOFTWARE INC	$0	–	-33,673	–	-0.00%	–
CVE	Exit	CENOVUS ENERGY INC	$0	–	-11,775	–	-0.00%	–
UBS	Exit	UBS GROUP AG-REG	$0	–	-10,625	–	-0.00%	–
EZPW	Exit	EZCORP INC-CL A	$0	–	-14,438	–	-0.00%	–
PSTB	Exit	PARK STERLING CORP	$0	–	-19,615	–	-0.00%	–
TNK	Exit	TEEKAY TANKERS LTD-CLASS A	$0	–	-61,790	–	-0.00%	–
ARC	Exit	ARC DOCUMENT SOLUTIONS INC	$0	–	-16,556	–	-0.00%	–
F	Exit	FORD MOTOR CO	$0	–	-14,875	–	-0.00%	–
FCEL	Exit	FUELCELL ENERGY INC	$0	–	-14,832	–	-0.00%	–
HSC	Exit	HARSCO CORP	$0	–	-13,145	–	-0.00%	–
VOYA	Exit	VOYA FINANCIAL INC	$0	–	-9,900	–	-0.00%	–
SAIC	Exit	SCIENCE APPLICATIONS INTE	$0	–	-3,354	–	-0.00%	–
FHN	Exit	FIRST HORIZON NATIONAL CORP	$0	–	-14,073	–	-0.00%	–
CSX	Exit	CSX CORP	$0	–	-8,000	–	-0.00%	–
BKD	Exit	BROOKDALE SENIOR LIVING INC	$0	–	-11,770	–	-0.00%	–
AVT	Exit	AVNET INC	$0	–	-6,075	–	-0.00%	–
CNO	Exit	CNO FINANCIAL GROUP INC	$0	–	-19,200	–	-0.00%	–
SPNV	Exit	SUPERIOR ENERGY SERVICES INC	$0	–	-12,075	–	-0.00%	–
GOV	Exit	GOVERNMENT PROPERTIES INCOME	$0	–	-10,726	–	-0.00%	–
EOG	Exit	EOG RESOURCES INC	$0	–	-3,200	–	-0.00%	–
MS	Exit	MORGAN STANLEY	$0	–	-8,904	–	-0.00%	–
IOSP	Exit	INNOSPEC INC	$0	–	-4,692	–	-0.00%	–
AIG	Exit	AMERICAN INTERNATIONAL GROUP	$0	–	-4,450	–	-0.00%	–
PAAS	Exit	PAN AMERICAN SILVER CORP	$0	–	-13,486	–	-0.00%	–
FCNCA	Exit	FIRST CITIZENS BCSHS -CL A	$0	–	-690	–	-0.00%	–
JOY	Exit	JOY GLOBAL INC	$0	–	-7,595	–	-0.00%	–
VRTS	Exit	VIRTUS INVESTMENT PARTNERS	$0	–	-2,387	–	-0.00%	–
TUP	Exit	TUPPERWARE BRANDS CORP	$0	–	-3,582	–	-0.00%	–
GLNG	Exit	GOLAR LNG LTD	$0	–	-10,438	–	-0.00%	–
MET	Exit	METLIFE INC	$0	–	-4,525	–	-0.00%	–
HPQ	Exit	HP INC	$0	–	-13,970	–	-0.00%	–
DOV	Exit	DOVER CORP	$0	–	-2,950	–	-0.00%	–
CMCSA	Exit	COMCAST CORP-CLASS A	$0	–	-3,500	–	-0.00%	–
LAMR	Exit	LAMAR ADVERTISING CO-A	$0	–	-3,125	–	-0.00%	–
ICON	Exit	ICONIX BRAND GROUP INC	$0	–	-24,701	–	-0.00%	–
GRPU	Exit	GRANITE REAL ESTATE INVESTMENT	$0	–	-8,945	–	-0.00%	–
AXS	Exit	AXIS CAPITAL HOLDINGS LTD	$0	–	-3,700	–	-0.00%	–
OMC	Exit	OMNICOM GROUP	$0	–	-2,800	–	-0.00%	–
BEN	Exit	FRANKLIN RESOURCES INC	$0	–	-6,925	–	-0.00%	–
SPLS	Exit	STAPLES INC	$0	–	-23,523	–	-0.00%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-2,875	–	-0.00%	–
STX	Exit	SEAGATE TECHNOLOGY	$0	–	-7,025	–	-0.00%	–
ARRS	Exit	ARRIS INTERNATIONAL PLC	$0	–	-7,281	–	-0.00%	–
MON	Exit	MONSANTO CO	$0	–	-2,575	–	-0.00%	–
COF	Exit	CAPITAL ONE FINANCIAL CORP	$0	–	-3,100	–	-0.00%	–
MUR	Exit	MURPHY OIL CORP	$0	–	-11,000	–	-0.00%	–
VNO	Exit	VORNADO REALTY TRUST	$0	–	-3,127	–	-0.00%	–
CCJ	Exit	CAMECO CORP	$0	–	-40,000	–	-0.00%	–
ANTM	Exit	ANTHEM INC	$0	–	-3,100	–	-0.00%	–
HPE	Exit	HEWLETT PACKARD ENTERPRIS	$0	–	-17,620	–	-0.00%	–
CVA	Exit	COVANTA HOLDING CORP	$0	–	-24,246	–	-0.00%	–
TRCO	Exit	TRIBUNE MEDIA CO - A	$0	–	-10,652	–	-0.00%	–
BAC	Exit	BANK OF AMERICA CORP	$0	–	-19,818	–	-0.00%	–
OXY	Exit	OCCIDENTAL PETROLEUM CORP	$0	–	-5,108	–	-0.00%	–
TEX	Exit	TEREX CORP	$0	–	-15,625	–	-0.00%	–
RDSA	Exit	ROYAL DUTCH SHELL-SPON ADR-A	$0	–	-6,799	–	-0.00%	–
KBR	Exit	KBR INC	$0	–	-26,013	–	-0.00%	–
ON	Exit	ON SEMICONDUCTOR CORP	$0	–	-31,038	–	-0.00%	–
DOW	Exit	DOW CHEMICAL CO/THE	$0	–	-8,065	–	-0.00%	–
SNR	Exit	NEW SENIOR INVESTMENT GROUP	$0	–	-29,080	–	-0.00%	–
DVN	Exit	DEVON ENERGY CORP	$0	–	-10,300	–	-0.00%	–
ETN	Exit	EATON CORP PLC	$0	–	-7,575	–	-0.00%	–
AAL	Exit	AMERICAN AIRLINES GROUP INC	$0	–	-13,100	–	-0.00%	–
RGA	Exit	REINSURANCE GROUP OF AMERICA	$0	–	-4,500	–	-0.00%	–
TRV	Exit	TRAVELERS COS INC	$0	–	-3,950	–	-0.00%	–
CAA	Exit	CALATLANTIC GROUP INC	$0	–	-13,000	–	-0.00%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-2,925	–	-0.00%	–
AMKR	Exit	AMKOR TECHNOLOGY INC	$0	–	-60,000	–	-0.01%	–
TGD	Exit	TIMMINS GOLD CORP	$0	–	-1,308,915	–	-0.01%	–
LODE	Exit	COMSTOCK MINING INC	$0	–	-1,584,982	–	-0.01%	–
GLW	Exit	CORNING INC	$0	–	-28,750	–	-0.01%	–
LNC	Exit	LINCOLN NATIONAL CORP	$0	–	-13,500	–	-0.01%	–
AET	Exit	AETNA INC	$0	–	-5,600	–	-0.01%	–
	Exit	CLIFFS NATURAL RESOURCES INCput	$0	–	-100,000	–	-0.01%	–
DAL	Exit	DELTA AIR LINES INC	$0	–	-14,510	–	-0.01%	–
APC	Exit	ANADARKO PETROLEUM CORP	$0	–	-11,300	–	-0.01%	–
FDX	Exit	FEDEX CORP	$0	–	-4,750	–	-0.01%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-12,558	–	-0.01%	–
	Exit	CAMECO CORPput	$0	–	-120,000	–	-0.01%	–
	Exit	AMERICAN EXPRESS COcall	$0	–	-15,000	–	-0.01%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-15,000	–	-0.01%	–
C	Exit	CITIGROUP INC	$0	–	-20,633	–	-0.01%	–
ORCL	Exit	ORACLE CORP	$0	–	-26,810	–	-0.01%	–
GMWSB	Exit	GENERAL MOTORS CO.warrant	$0	–	-40,800	–	-0.01%	–
GG	Exit	GOLDCORP INC	$0	–	-80,000	–	-0.01%	–
	Exit	INFINERA CORPput	$0	–	-190,000	–	-0.01%	–
BACWSB	Exit	BANK OF AMERICA CORPwarrant	$0	–	-125,000	–	-0.02%	–
	Exit	MACY'S INCput	$0	–	-60,000	–	-0.02%	–
MAG	Exit	MAG SILVER CORP	$0	–	-159,203	–	-0.02%	–
SCHW	Exit	SCHWAB CHARLES CORP	$0	–	-80,000	–	-0.02%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE INC	$0	–	-30,000	–	-0.02%	–
	Exit	INGERSOLL-RAND PLCput	$0	–	-40,000	–	-0.02%	–
	Exit	JPMORGAN CHASE & COput	$0	–	-40,000	–	-0.02%	–
	Exit	PNC FINANCIAL SERVICES GROUPput	$0	–	-30,000	–	-0.02%	–
	Exit	WHOLE FOODS MARKET INCput	$0	–	-100,000	–	-0.02%	–
XRA	Exit	EXETER RESOURCE CORP	$0	–	-2,388,663	–	-0.02%	–
	Exit	ELI LILLY & COput	$0	–	-40,000	–	-0.03%	–
	Exit	SCHWAB CHARLES CORPput	$0	–	-100,000	–	-0.03%	–
CLDPQ	Exit	CLOUD PEAK ENERGY INC	$0	–	-600,000	–	-0.03%	–
	Exit	UNITED PARCEL SERVICE-CL Bput	$0	–	-30,000	–	-0.03%	–
VGZ	Exit	VISTA GOLD CORP	$0	–	-3,203,217	–	-0.03%	–
KLDX	Exit	KLONDEX MINES LTD	$0	–	-574,409	–	-0.03%	–
	Exit	PFIZER INCput	$0	–	-100,000	–	-0.03%	–
	Exit	WELLS FARGO & COput	$0	–	-80,000	–	-0.03%	–
	Exit	ILLUMINA INCput	$0	–	-20,000	–	-0.03%	–
	Exit	The Walt Disney Co.put	$0	–	-40,000	–	-0.03%	–
INFN	Exit	INFINERA CORP	$0	–	-430,000	–	-0.03%	–
	Exit	SOTHEBY'Sput	$0	–	-100,000	–	-0.03%	–
	Exit	GENERAL MOTORS CO.put	$0	–	-120,000	–	-0.03%	–
	Exit	GOLDCORP INCcall	$0	–	-240,000	–	-0.03%	–
	Exit	BANK OF NEW YORK MELLON CORPput	$0	–	-100,000	–	-0.03%	–
	Exit	NEWMONT MINING CORPcall	$0	–	-100,000	–	-0.03%	–
	Exit	UNITED TECHNOLOGIES CORPput	$0	–	-40,000	–	-0.03%	–
	Exit	TIFFANY & COput	$0	–	-60,000	–	-0.04%	–
	Exit	HALLIBURTON COput	$0	–	-100,000	–	-0.04%	–
	Exit	CITIGROUP INCput	$0	–	-100,000	–	-0.04%	–
	Exit	TIME WARNER INCput	$0	–	-60,000	–	-0.04%	–
SSRI	Exit	SILVER STANDARD RESOURCES	$0	–	-413,118	–	-0.04%	–
	Exit	AMERICAN EXPRESS COput	$0	–	-80,000	–	-0.04%	–
	Exit	BARRICK GOLD CORPput	$0	–	-300,000	–	-0.04%	–
	Exit	CARMAX INCput	$0	–	-100,000	–	-0.04%	–
	Exit	WESTERN DIGITAL CORPcall	$0	–	-100,000	–	-0.05%	–
ALSN	Exit	ALLISON TRANSMISSION HOLDING	$0	–	-225,000	–	-0.05%	–
	Exit	3M COput	$0	–	-40,000	–	-0.06%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-415,495	–	-0.06%	–
PVG	Exit	PRETIUM RESOURCES INC	$0	–	-736,029	–	-0.06%	–
AGI	Exit	ALAMOS GOLD INC-CLASS A	$0	–	-913,634	–	-0.06%	–
	Exit	UNION PACIFIC CORPput	$0	–	-80,000	–	-0.06%	–
GDXJ	Exit	VANECK VECTORS JUNIOR GOLD M	$0	–	-180,000	–	-0.06%	–
LYB	Exit	LYONDELLBASELL INDU-CL A	$0	–	-105,500	–	-0.07%	–
	Exit	BARRICK GOLD CORPcall	$0	–	-500,000	–	-0.07%	–
AKG	Exit	ASANKO GOLD INC	$0	–	-2,193,787	–	-0.07%	–
	Exit	DU PONT E.I. DE NEMOURSput	$0	–	-140,000	–	-0.08%	–
AER	Exit	AERCAP HOLDINGS NV	$0	–	-250,000	–	-0.08%	–
DG	Exit	DOLLAR GENERAL CORP	$0	–	-140,000	–	-0.08%	–
CF	Exit	CF INDUSTRIES HOLDINGS INC	$0	–	-410,000	–	-0.08%	–
LKQ	Exit	LKQ CORP	$0	–	-285,000	–	-0.08%	–
KMX	Exit	CARMAX INC	$0	–	-195,000	–	-0.08%	–
	Exit	WALGREENS BOOTS ALLIANCE INCput	$0	–	-140,000	–	-0.09%	–
GM	Exit	GENERAL MOTORS CO.	$0	–	-366,620	–	-0.09%	–
	Exit	JOHNSON & JOHNSONput	$0	–	-100,000	–	-0.10%	–
	Exit	CHEVRON CORPput	$0	–	-120,000	–	-0.10%	–
MTSC	Exit	MTS SYSTEMS CORP	$0	–	-275,000	–	-0.10%	–
QRTEA	Exit	LIBERTY INTERACTIVE CORP Q-A	$0	–	-635,000	–	-0.10%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-112,025	–	-0.11%	–
PFE	Exit	PFIZER INC	$0	–	-404,687	–	-0.11%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-270,428	–	-0.13%	–
CSCO	Exit	CISCO SYSTEMS INC	$0	–	-500,000	–	-0.13%	–
RLGY	Exit	REALOGY HOLDINGS CORP	$0	–	-635,000	–	-0.13%	–
AXTA	Exit	AXALTA COATING SYSTEMS LTD	$0	–	-700,000	–	-0.16%	–
WLTW	Exit	WILLIS TOWERS WATSON PLC	$0	–	-160,000	–	-0.17%	–
HCA	Exit	HCA HOLDINGS INC	$0	–	-300,000	–	-0.18%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-404,910	–	-0.19%	–
ESRX	Exit	EXPRESS SCRIPTS HOLDING CO	$0	–	-660,000	–	-0.38%	–
DOFSQ	Exit	DIAMOND OFFSHORE DRILLING	$0	–	-73,119,047	–	-10.40%	–
BWP	Exit	BWP COMMON UNITS	$0	–	-125,586,133	–	-17.41%	–
CNA	Exit	CNA FINANCIAL CORP	$0	–	-242,649,773	–	-67.46%	–

Q3 2016

			Value		Shares		↓ Weighting
ESRX	Sell	EXPRESS SCRIPTS HOLDING CO	$46,550,000	-8.3%	660,000	-1.5%	0.38%	-9.4%
WDC	Sell	WESTERN DIGITAL CORP	$23,675,000	+17.9%	404,910	-4.7%	0.19%	+16.5%
WLTW	New	WILLIS TOWERS WATSON PLC	$21,243,000	–	160,000	–	0.17%	–
AXTA	Buy	AXALTA COATING SYSTEMS LTD	$19,789,000	+140.6%	700,000	+125.8%	0.16%	+138.8%
RLGY	Buy	REALOGY HOLDINGS CORP	$16,421,000	+8.8%	635,000	+22.1%	0.13%	+8.1%
MSFT	Sell	MICROSOFT CORP	$15,577,000	-5.0%	270,428	-15.6%	0.13%	-6.0%
PFE	Sell	PFIZER INC	$13,707,000	-25.1%	404,687	-22.1%	0.11%	-26.0%
JNJ	Sell	JOHNSON & JOHNSON	$13,234,000	-46.0%	112,025	-44.5%	0.11%	-46.5%
QRTEA	Buy	LIBERTY INTERACTIVE CORP Q-A	$12,706,000	-2.8%	635,000	+23.3%	0.10%	-3.7%
	Buy	CHEVRON CORPput	$12,350,000	+17.8%	120,000	+20.0%	0.10%	+16.3%
GM	Sell	GENERAL MOTORS CO.	$11,648,000	-9.6%	366,620	-19.5%	0.09%	-10.5%
KMX	Sell	CARMAX INC	$10,403,000	-16.8%	195,000	-23.6%	0.08%	-17.6%
LKQ	Sell	LKQ CORP	$10,106,000	+6.3%	285,000	-5.0%	0.08%	+5.1%
CF	Sell	CF INDUSTRIES HOLDINGS INC	$9,984,000	-10.9%	410,000	-11.8%	0.08%	-12.0%
DG	New	DOLLAR GENERAL CORP	$9,799,000	–	140,000	–	0.08%	–
AER	Sell	AERCAP HOLDINGS NV	$9,623,000	-10.5%	250,000	-21.9%	0.08%	-11.4%
	Buy	DU PONT E.I. DE NEMOURSput	$9,376,000	+44.7%	140,000	+40.0%	0.08%	+43.4%
AKG	Sell	ASANKO GOLD INC	$9,190,000	+6.1%	2,193,787	-3.2%	0.07%	+4.2%
LYB	Buy	LYONDELLBASELL INDU-CL A	$8,510,000	+1980.7%	105,500	+1818.2%	0.07%	+2200.0%
PVG	Sell	PRETIUM RESOURCES INC	$7,551,000	-12.9%	736,029	-5.0%	0.06%	-14.1%
GOLD	Sell	BARRICK GOLD CORP	$7,363,000	-17.6%	415,495	-0.7%	0.06%	-19.2%
ALSN	Sell	ALLISON TRANSMISSION HOLDING	$6,453,000	-8.6%	225,000	-10.0%	0.05%	-10.3%
	New	BARRICK GOLD CORPput	$5,316,000	–	300,000	–	0.04%	–
SSRI	Sell	SILVER STANDARD RESOURCES	$4,982,000	-39.5%	413,118	-34.9%	0.04%	-40.3%
	New	TIME WARNER INCput	$4,777,000	–	60,000	–	0.04%	–
	Buy	GENERAL MOTORS CO.put	$3,812,000	+34.7%	120,000	+20.0%	0.03%	+34.8%
INFN	Sell	INFINERA CORP	$3,883,000	-23.5%	430,000	-4.4%	0.03%	-26.2%
KLDX	Sell	KLONDEX MINES LTD	$3,299,000	-74.0%	574,409	-83.5%	0.03%	-74.0%
VGZ	Buy	VISTA GOLD CORP	$3,395,000	-0.7%	3,203,217	+79.8%	0.03%	-3.6%
CLDPQ	Sell	CLOUD PEAK ENERGY INC	$3,264,000	+115.3%	600,000	-18.5%	0.03%	+116.7%
	Buy	JPMORGAN CHASE & COput	$2,664,000	+42.9%	40,000	+33.3%	0.02%	+46.7%
	New	PNC FINANCIAL SERVICES GROUPput	$2,703,000	–	30,000	–	0.02%	–
SCHW	Sell	SCHWAB CHARLES CORP	$2,526,000	-0.2%	80,000	-20.0%	0.02%	-4.8%
MAG	Sell	MAG SILVER CORP	$2,397,000	-32.6%	159,203	-43.6%	0.02%	-34.5%
	Sell	INFINERA CORPput	$1,716,000	-23.9%	190,000	-5.0%	0.01%	-22.2%
C	Buy	CITIGROUP INC	$974,000	+41.4%	20,633	+26.9%	0.01%	+33.3%
APC	Sell	ANADARKO PETROLEUM CORP	$716,000	+11.5%	11,300	-6.2%	0.01%	+20.0%
AMKR	Sell	AMKOR TECHNOLOGY INC	$583,000	+1.4%	60,000	-40.0%	0.01%	0.0%
RGA	Sell	REINSURANCE GROUP OF AMERICA	$486,000	-19.1%	4,500	-27.4%	0.00%	-20.0%
VNO	Sell	VORNADO REALTY TRUST	$316,000	-7.3%	3,127	-8.1%	0.00%	0.0%
KBR	Buy	KBR INC	$394,000	+19.4%	26,013	+4.4%	0.00%	0.0%
CCJ	Sell	CAMECO CORP	$342,000	-74.0%	40,000	-66.7%	0.00%	-72.7%
RDSA	Buy	ROYAL DUTCH SHELL-SPON ADR-A	$340,000	-7.9%	6,799	+1.9%	0.00%	0.0%
ANTM	Sell	ANTHEM INC	$388,000	-23.3%	3,100	-19.5%	0.00%	-25.0%
DOW	Buy	DOW CHEMICAL CO/THE	$418,000	+17.4%	8,065	+12.6%	0.00%	0.0%
CVA	Buy	COVANTA HOLDING CORP	$373,000	+32.3%	24,246	+41.5%	0.00%	+50.0%
TEX	Buy	TEREX CORP	$397,000	+49.8%	15,625	+19.7%	0.00%	+50.0%
SNR	Sell	NEW SENIOR INVESTMENT GROUP	$336,000	-0.3%	29,080	-7.9%	0.00%	0.0%
ON	Buy	ON SEMICONDUCTOR CORP	$382,000	+39.9%	31,038	+0.2%	0.00%	+50.0%
STX	Sell	SEAGATE TECHNOLOGY	$271,000	+30.3%	7,025	-17.6%	0.00%	0.0%
IOSP	Sell	INNOSPEC INC	$285,000	+14.9%	4,692	-13.0%	0.00%	0.0%
JOY	New	JOY GLOBAL INC	$211,000	–	7,595	–	0.00%	–
ICON	Buy	ICONIX BRAND GROUP INC	$201,000	+39.6%	24,701	+16.4%	0.00%	+100.0%
HPQ	Sell	HP INC	$217,000	-94.3%	13,970	-95.4%	0.00%	-93.5%
MET	New	METLIFE INC	$201,000	–	4,525	–	0.00%	–
GOV	Sell	GOVERNMENT PROPERTIES INCOME	$243,000	-8.6%	10,726	-6.9%	0.00%	0.0%
MON	New	MONSANTO CO	$263,000	–	2,575	–	0.00%	–
FCNCA	New	FIRST CITIZENS BCSHS -CL A	$203,000	–	690	–	0.00%	–
EOG	New	EOG RESOURCES INC	$309,000	–	3,200	–	0.00%	–
SAIC	New	SCIENCE APPLICATIONS INTE	$233,000	–	3,354	–	0.00%	–
TUP	Sell	TUPPERWARE BRANDS CORP	$234,000	+7.3%	3,582	-7.7%	0.00%	0.0%
COF	New	CAPITAL ONE FINANCIAL CORP	$223,000	–	3,100	–	0.00%	–
VRTS	Sell	VIRTUS INVESTMENT PARTNERS	$234,000	+14.1%	2,387	-17.3%	0.00%	0.0%
VOYA	Buy	VOYA FINANCIAL INC	$285,000	+25.6%	9,900	+7.9%	0.00%	0.0%
ARRS	New	ARRIS INTERNATIONAL PLC	$206,000	–	7,281	–	0.00%	–
CNO	Buy	CNO FINANCIAL GROUP INC	$293,000	+20.6%	19,200	+38.1%	0.00%	0.0%
EZPW	Sell	EZCORP INC-CL A	$160,000	+34.5%	14,438	-8.3%	0.00%	0.0%
FCEL	New	FUELCELL ENERGY INC	$80,000	–	14,832	–	0.00%	–
KEGXQ	Exit	KEY ENERGY SERVICES INC	$0	–	-27,525	–	0.00%	–
HRI	Exit	HERC HOLDINGS INC	$0	–	-13,129	–	-0.00%	–
KO	Exit	COCA-COLA CO/THE	$0	–	-5,484	–	-0.00%	–
BP	Exit	BP PLC-SPONS ADR	$0	–	-7,540	–	-0.00%	–
ACM	Exit	AECOM	$0	–	-6,344	–	-0.00%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-2,300	–	-0.00%	–
PPPMF	Exit	PRIMERO MINING CORP	$0	–	-276,407	–	-0.01%	–
CLF	Exit	CLIFFS NATURAL RESOURCES INC	$0	–	-120,000	–	-0.01%	–
DD	Exit	DU PONT E.I. DE NEMOURS	$0	–	-20,000	–	-0.01%	–
	Exit	QUALCOMM INCput	$0	–	-40,000	–	-0.02%	–
SWC	Exit	STILLWATER MINING CO	$0	–	-207,132	–	-0.02%	–
	Exit	EXPRESS SCRIPTS HOLDING COput	$0	–	-40,000	–	-0.02%	–
RGLD	Exit	ROYAL GOLD INC	$0	–	-98,950	–	-0.06%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-2,000,000	–	-0.52%	–

Q2 2016

			Value		Shares		↓ Weighting
CNA	New	CNA FINANCIAL CORP	$7,624,056,000	–	242,649,773	–	62.36%	–
BWP	New	BWP COMMON UNITS	$2,191,478,000	–	125,586,133	–	17.92%	–
DOFSQ	New	DIAMOND OFFSHORE DRILLING	$1,778,986,000	–	73,119,047	–	14.55%	–
GE	New	GENERAL ELECTRIC CO	$62,960,000	–	2,000,000	–	0.52%	–
ESRX	New	EXPRESS SCRIPTS HOLDING CO	$50,786,000	–	670,000	–	0.42%	–
JNJ	New	JOHNSON & JOHNSON	$24,506,000	–	202,025	–	0.20%	–
HCA	New	HCA HOLDINGS INC	$23,103,000	–	300,000	–	0.19%	–
WDC	New	WESTERN DIGITAL CORP	$20,081,000	–	424,910	–	0.16%	–
PFE	New	PFIZER INC	$18,298,000	–	519,687	–	0.15%	–
MSFT	New	MICROSOFT CORP	$16,396,000	–	320,428	–	0.13%	–
RLGY	New	REALOGY HOLDINGS CORP	$15,090,000	–	520,000	–	0.12%	–
CSCO	New	CISCO SYSTEMS INC	$14,345,000	–	500,000	–	0.12%	–
QRTEA	New	LIBERTY INTERACTIVE CORP Q-A	$13,066,000	–	515,000	–	0.11%	–
GM	New	GENERAL MOTORS CO.	$12,883,000	–	455,215	–	0.10%	–
KLDX	New	KLONDEX MINES LTD	$12,667,000	–	3,490,780	–	0.10%	–
KMX	New	CARMAX INC	$12,508,000	–	255,100	–	0.10%	–
	New	JOHNSON & JOHNSONput	$12,130,000	–	100,000	–	0.10%	–
MTSC	New	MTS SYSTEMS CORP	$12,056,000	–	275,000	–	0.10%	–
	New	WALGREENS BOOTS ALLIANCE INCput	$11,658,000	–	140,000	–	0.10%	–
CF	New	CF INDUSTRIES HOLDINGS INC	$11,207,000	–	465,000	–	0.09%	–
AER	New	AERCAP HOLDINGS NV	$10,749,000	–	320,000	–	0.09%	–
	New	BARRICK GOLD CORPcall	$10,675,000	–	500,000	–	0.09%	–
	New	CHEVRON CORPput	$10,483,000	–	100,000	–	0.09%	–
LKQ	New	LKQ CORP	$9,510,000	–	300,000	–	0.08%	–
GOLD	New	BARRICK GOLD CORP	$8,937,000	–	418,600	–	0.07%	–
AKG	New	ASANKO GOLD INC	$8,663,000	–	2,266,693	–	0.07%	–
PVG	New	PRETIUM RESOURCES INC	$8,669,000	–	774,866	–	0.07%	–
SSRI	New	SILVER STANDARD RESOURCES	$8,237,000	–	634,118	–	0.07%	–
AXTA	New	AXALTA COATING SYSTEMS LTD	$8,224,000	–	310,000	–	0.07%	–
AGI	New	ALAMOS GOLD INC-CLASS A	$7,853,000	–	913,634	–	0.06%	–
GDXJ	New	VANECK VECTORS JUNIOR GOLD M	$7,668,000	–	180,000	–	0.06%	–
RGLD	New	ROYAL GOLD INC	$7,126,000	–	98,950	–	0.06%	–
ALSN	New	ALLISON TRANSMISSION HOLDING	$7,058,000	–	250,000	–	0.06%	–
	New	3M COput	$7,005,000	–	40,000	–	0.06%	–
	New	UNION PACIFIC CORPput	$6,980,000	–	80,000	–	0.06%	–
	New	DU PONT E.I. DE NEMOURSput	$6,480,000	–	100,000	–	0.05%	–
INFN	New	INFINERA CORP	$5,076,000	–	450,000	–	0.04%	–
	New	AMERICAN EXPRESS COput	$4,861,000	–	80,000	–	0.04%	–
	New	CARMAX INCput	$4,903,000	–	100,000	–	0.04%	–
	New	WESTERN DIGITAL CORPcall	$4,726,000	–	100,000	–	0.04%	–
	New	GOLDCORP INCcall	$4,591,000	–	240,000	–	0.04%	–
	New	HALLIBURTON COput	$4,529,000	–	100,000	–	0.04%	–
	New	CITIGROUP INCput	$4,239,000	–	100,000	–	0.04%	–
	New	UNITED TECHNOLOGIES CORPput	$4,102,000	–	40,000	–	0.03%	–
	New	NEWMONT MINING CORPcall	$3,912,000	–	100,000	–	0.03%	–
	New	BANK OF NEW YORK MELLON CORPput	$3,885,000	–	100,000	–	0.03%	–
	New	The Walt Disney Co.put	$3,913,000	–	40,000	–	0.03%	–
	New	WELLS FARGO & COput	$3,786,000	–	80,000	–	0.03%	–
HPQ	New	HP INC	$3,821,000	–	304,470	–	0.03%	–
	New	TIFFANY & COput	$3,638,000	–	60,000	–	0.03%	–
MAG	New	MAG SILVER CORP	$3,556,000	–	282,123	–	0.03%	–
	New	PFIZER INCput	$3,521,000	–	100,000	–	0.03%	–
VGZ	New	VISTA GOLD CORP	$3,420,000	–	1,781,485	–	0.03%	–
	New	ELI LILLY & COput	$3,150,000	–	40,000	–	0.03%	–
	New	UNITED PARCEL SERVICE-CL Bput	$3,232,000	–	30,000	–	0.03%	–
	New	WHOLE FOODS MARKET INCput	$3,202,000	–	100,000	–	0.03%	–
	New	EXPRESS SCRIPTS HOLDING COput	$3,032,000	–	40,000	–	0.02%	–
XRA	New	EXETER RESOURCE CORP	$3,012,000	–	2,388,663	–	0.02%	–
	New	GENERAL MOTORS CO.put	$2,830,000	–	100,000	–	0.02%	–
	New	ILLUMINA INCput	$2,808,000	–	20,000	–	0.02%	–
	New	SOTHEBY'Sput	$2,740,000	–	100,000	–	0.02%	–
SCHW	New	SCHWAB CHARLES CORP	$2,531,000	–	100,000	–	0.02%	–
	New	SCHWAB CHARLES CORPput	$2,531,000	–	100,000	–	0.02%	–
	New	INGERSOLL-RAND PLCput	$2,547,000	–	40,000	–	0.02%	–
WBA	New	WALGREENS BOOTS ALLIANCE INC	$2,498,000	–	30,000	–	0.02%	–
SWC	New	STILLWATER MINING CO	$2,457,000	–	207,132	–	0.02%	–
	New	INFINERA CORPput	$2,256,000	–	200,000	–	0.02%	–
	New	QUALCOMM INCput	$2,143,000	–	40,000	–	0.02%	–
	New	MACY'S INCput	$2,017,000	–	60,000	–	0.02%	–
	New	JPMORGAN CHASE & COput	$1,864,000	–	30,000	–	0.02%	–
BACWSB	New	BANK OF AMERICA CORPwarrant	$1,659,000	–	125,000	–	0.01%	–
GG	New	GOLDCORP INC	$1,530,000	–	80,000	–	0.01%	–
CLDPQ	New	CLOUD PEAK ENERGY INC	$1,516,000	–	736,000	–	0.01%	–
CCJ	New	CAMECO CORP	$1,316,000	–	120,000	–	0.01%	–
	New	CAMECO CORPput	$1,316,000	–	120,000	–	0.01%	–
DD	New	DU PONT E.I. DE NEMOURS	$1,296,000	–	20,000	–	0.01%	–
GMWSB	New	GENERAL MOTORS CO.warrant	$1,155,000	–	40,800	–	0.01%	–
ORCL	New	ORACLE CORP	$1,097,000	–	26,810	–	0.01%	–
	New	AMERICAN EXPRESS COcall	$911,000	–	15,000	–	0.01%	–
AXP	New	AMERICAN EXPRESS CO	$911,000	–	15,000	–	0.01%	–
AET	New	AETNA INC	$684,000	–	5,600	–	0.01%	–
FDX	New	FEDEX CORP	$721,000	–	4,750	–	0.01%	–
JPM	New	JPMORGAN CHASE & CO	$780,000	–	12,558	–	0.01%	–
CLF	New	CLIFFS NATURAL RESOURCES INC	$680,000	–	120,000	–	0.01%	–
C	New	CITIGROUP INC	$689,000	–	16,258	–	0.01%	–
	New	CLIFFS NATURAL RESOURCES INCput	$567,000	–	100,000	–	0.01%	–
AMKR	New	AMKOR TECHNOLOGY INC	$575,000	–	100,000	–	0.01%	–
APC	New	ANADARKO PETROLEUM CORP	$642,000	–	12,050	–	0.01%	–
LODE	New	COMSTOCK MINING INC	$553,000	–	1,584,982	–	0.01%	–
GLW	New	CORNING INC	$589,000	–	28,750	–	0.01%	–
PPPMF	New	PRIMERO MINING CORP	$575,000	–	276,407	–	0.01%	–
RGA	New	REINSURANCE GROUP OF AMERICA	$601,000	–	6,200	–	0.01%	–
DAL	New	DELTA AIR LINES INC	$529,000	–	14,510	–	0.00%	–
ANTM	New	ANTHEM INC	$506,000	–	3,850	–	0.00%	–
ETN	New	EATON CORP PLC	$452,000	–	7,575	–	0.00%	–
CAA	New	CALATLANTIC GROUP INC	$477,000	–	13,000	–	0.00%	–
LNC	New	LINCOLN NATIONAL CORP	$523,000	–	13,500	–	0.00%	–
TGD	New	TIMMINS GOLD CORP	$481,000	–	1,308,915	–	0.00%	–
TRV	New	TRAVELERS COS INC	$470,000	–	3,950	–	0.00%	–
GS	New	GOLDMAN SACHS GROUP INC	$435,000	–	2,925	–	0.00%	–
KBR	New	KBR INC	$330,000	–	24,913	–	0.00%	–
MUR	New	MURPHY OIL CORP	$349,000	–	11,000	–	0.00%	–
AAL	New	AMERICAN AIRLINES GROUP INC	$371,000	–	13,100	–	0.00%	–
HPE	New	HEWLETT PACKARD ENTERPRIS	$322,000	–	17,620	–	0.00%	–
DVN	New	DEVON ENERGY CORP	$373,000	–	10,300	–	0.00%	–
LYB	New	LYONDELLBASELL INDU-CL A	$409,000	–	5,500	–	0.00%	–
SNR	New	NEW SENIOR INVESTMENT GROUP	$337,000	–	31,562	–	0.00%	–
VNO	New	VORNADO REALTY TRUST	$341,000	–	3,404	–	0.00%	–
RDSA	New	ROYAL DUTCH SHELL-SPON ADR-A	$369,000	–	6,675	–	0.00%	–
OXY	New	OCCIDENTAL PETROLEUM CORP	$386,000	–	5,108	–	0.00%	–
TRCO	New	TRIBUNE MEDIA CO - A	$417,000	–	10,652	–	0.00%	–
DOW	New	DOW CHEMICAL CO/THE	$356,000	–	7,165	–	0.00%	–
LAMR	New	LAMAR ADVERTISING CO-A	$207,000	–	3,125	–	0.00%	–
IOSP	New	INNOSPEC INC	$248,000	–	5,392	–	0.00%	–
MS	New	MORGAN STANLEY	$231,000	–	8,904	–	0.00%	–
OMC	New	OMNICOM GROUP	$228,000	–	2,800	–	0.00%	–
ON	New	ON SEMICONDUCTOR CORP	$273,000	–	30,975	–	0.00%	–
GRPU	New	GRANITE REAL ESTATE INVESTMENT	$270,000	–	8,945	–	0.00%	–
PAAS	New	PAN AMERICAN SILVER CORP	$222,000	–	13,486	–	0.00%	–
GOV	New	GOVERNMENT PROPERTIES INCOME	$266,000	–	11,526	–	0.00%	–
BEN	New	FRANKLIN RESOURCES INC	$231,000	–	6,925	–	0.00%	–
F	New	FORD MOTOR CO	$187,000	–	14,875	–	0.00%	–
FHN	New	FIRST HORIZON NATIONAL CORP	$194,000	–	14,073	–	0.00%	–
TNK	New	TEEKAY TANKERS LTD-CLASS A	$184,000	–	61,790	–	0.00%	–
XOM	New	EXXON MOBIL CORP	$216,000	–	2,300	–	0.00%	–
DOV	New	DOVER CORP	$204,000	–	2,950	–	0.00%	–
SPLS	New	STAPLES INC	$203,000	–	23,523	–	0.00%	–
SPNV	New	SUPERIOR ENERGY SERVICES INC	$222,000	–	12,075	–	0.00%	–
TEX	New	TEREX CORP	$265,000	–	13,050	–	0.00%	–
CVA	New	COVANTA HOLDING CORP	$282,000	–	17,136	–	0.00%	–
CMCSA	New	COMCAST CORP-CLASS A	$228,000	–	3,500	–	0.00%	–
KO	New	COCA-COLA CO/THE	$249,000	–	5,484	–	0.00%	–
CSX	New	CSX CORP	$209,000	–	8,000	–	0.00%	–
VRTS	New	VIRTUS INVESTMENT PARTNERS	$205,000	–	2,887	–	0.00%	–
VOYA	New	VOYA FINANCIAL INC	$227,000	–	9,175	–	0.00%	–
WMT	New	WAL-MART STORES INC	$210,000	–	2,875	–	0.00%	–
CNO	New	CNO FINANCIAL GROUP INC	$243,000	–	13,900	–	0.00%	–
BAC	New	BANK OF AMERICA CORP	$263,000	–	19,818	–	0.00%	–
BP	New	BP PLC-SPONS ADR	$268,000	–	7,540	–	0.00%	–
AVT	New	AVNET INC	$246,000	–	6,075	–	0.00%	–
AXS	New	AXIS CAPITAL HOLDINGS LTD	$204,000	–	3,700	–	0.00%	–
AIG	New	AMERICAN INTERNATIONAL GROUP	$235,000	–	4,450	–	0.00%	–
STX	New	SEAGATE TECHNOLOGY	$208,000	–	8,525	–	0.00%	–
ACM	New	AECOM	$202,000	–	6,344	–	0.00%	–
TUP	New	TUPPERWARE BRANDS CORP	$218,000	–	3,882	–	0.00%	–
BKD	New	BROOKDALE SENIOR LIVING INC	$182,000	–	11,770	–	0.00%	–
ICON	New	ICONIX BRAND GROUP INC	$144,000	–	21,228	–	0.00%	–
EZPW	New	EZCORP INC-CL A	$119,000	–	15,738	–	0.00%	–
ARC	New	ARC DOCUMENT SOLUTIONS INC	$64,000	–	16,556	–	0.00%	–
CVE	New	CENOVUS ENERGY INC	$163,000	–	11,775	–	0.00%	–
PSTB	New	PARK STERLING CORP	$139,000	–	19,615	–	0.00%	–
GLNG	New	GOLAR LNG LTD	$162,000	–	10,438	–	0.00%	–
HSC	New	HARSCO CORP	$87,000	–	13,145	–	0.00%	–
NG	New	NOVAGOLD RESOURCES INC	$81,000	–	13,166	–	0.00%	–
UBS	New	UBS GROUP AG-REG	$138,000	–	10,625	–	0.00%	–
JIVE	New	JIVE SOFTWARE INC	$127,000	–	33,673	–	0.00%	–
HRI	New	HERC HOLDINGS INC	$145,000	–	13,129	–	0.00%	–
KEGXQ	New	KEY ENERGY SERVICES INC	$6,000	–	27,525	–	0.00%	–

Q4 2015

			Value		Shares		↓ Weighting
KTOS	Exit	KRATOS DEFENSE & SECURITY	$0	–	-11,324	–	0.00%	–
ORIG	Exit	OCEAN RIG UDW INC	$0	–	-21,816	–	0.00%	–
NG	Exit	NOVAGOLD RESOURCES INC	$0	–	-13,166	–	0.00%	–
EXXIQ	Exit	ENERGY XXI LTD	$0	–	-10,533	–	0.00%	–
GOV	Exit	GOVERNMENT PROPERTIES INCOME	$0	–	-10,400	–	-0.00%	–
NPBC	Exit	NATL PENN BCSHS INC	$0	–	-10,850	–	-0.00%	–
PAAS	Exit	PAN AMERICAN SILVER CORP	$0	–	-13,486	–	-0.00%	–
FCEL	Exit	FUELCELL ENERGY INC	$0	–	-93,776	–	-0.00%	–
JIVE	Exit	JIVE SOFTWARE INC	$0	–	-33,673	–	-0.00%	–
SPNV	Exit	SUPERIOR ENERGY SERVICES INC	$0	–	-14,150	–	-0.00%	–
HSC	Exit	HARSCO CORP	$0	–	-10,113	–	-0.00%	–
GNW	Exit	GENWORTH FINANCIAL INC-CL A	$0	–	-19,500	–	-0.00%	–
TNK	Exit	TEEKAY TANKERS LTD-CLASS A	$0	–	-24,698	–	-0.00%	–
TECK	Exit	TECK RESOURCES LTD-CLS B	$0	–	-20,195	–	-0.00%	–
NWS	Exit	NEWS CORP - CLASS B	$0	–	-10,460	–	-0.00%	–
MXWL	Exit	MAXWELL TECHNOLOGIES INC	$0	–	-17,511	–	-0.00%	–
EZPW	Exit	EZCORP INC-CL A	$0	–	-15,738	–	-0.00%	–
BBCN	Exit	BBCN BANCORP INC	$0	–	-10,175	–	-0.00%	–
PSTB	Exit	PARK STERLING CORP	$0	–	-19,615	–	-0.00%	–
CVA	Exit	COVANTA HOLDING CORP	$0	–	-17,136	–	-0.00%	–
GRPU	Exit	GRANITE REAL ESTATE INVESTMENT	$0	–	-9,196	–	-0.00%	–
CMCSK	Exit	COMCAST CORP-SPECIAL CL A	$0	–	-4,000	–	-0.00%	–
BA	Exit	BOEING CO.	$0	–	-1,800	–	-0.00%	–
KBR	Exit	KBR INC	$0	–	-17,400	–	-0.00%	–
LYB	Exit	LYONDELLBASELL INDU-CL A	$0	–	-2,900	–	-0.00%	–
APA	Exit	APACHE CORP	$0	–	-6,900	–	-0.00%	–
BAC	Exit	BANK OF AMERICA CORP	$0	–	-18,918	–	-0.00%	–
MS	Exit	MORGAN STANLEY	$0	–	-7,129	–	-0.00%	–
IBM	Exit	INTL BUSINESS MACHINES CORP	$0	–	-1,500	–	-0.00%	–
TEX	Exit	TEREX CORP	$0	–	-12,350	–	-0.00%	–
BEN	Exit	FRANKLIN RESOURCES INC	$0	–	-5,450	–	-0.00%	–
UBS	Exit	UBS GROUP AG-REG	$0	–	-10,625	–	-0.00%	–
IOSP	Exit	INNOSPEC INC	$0	–	-6,400	–	-0.00%	–
SPLS	Exit	STAPLES INC	$0	–	-23,523	–	-0.00%	–
AXS	Exit	AXIS CAPITAL HOLDINGS LTD	$0	–	-4,150	–	-0.00%	–
ARRS	Exit	ARRIS GROUP INC	$0	–	-8,800	–	-0.00%	–
	Exit	CLIFFS NATURAL RESOURCES INCput	$0	–	-100,000	–	-0.00%	–
BKD	Exit	BROOKDALE SENIOR LIVING INC	$0	–	-11,005	–	-0.00%	–
KO	Exit	COCA-COLA CO/THE	$0	–	-5,484	–	-0.00%	–
HTZ	Exit	HERTZ GLOBAL HOLDINGS INC	$0	–	-11,175	–	-0.00%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-4,000	–	-0.00%	–
F	Exit	FORD MOTOR CO	$0	–	-14,875	–	-0.00%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-3,625	–	-0.00%	–
BBBY	Exit	BED BATH & BEYOND INC	$0	–	-4,400	–	-0.00%	–
ICON	Exit	ICONIX BRAND GROUP INC	$0	–	-18,485	–	-0.00%	–
CLF	Exit	CLIFFS NATURAL RESOURCES INC	$0	–	-120,000	–	-0.00%	–
FHN	Exit	FIRST HORIZON NATIONAL CORP	$0	–	-13,473	–	-0.00%	–
ON	Exit	ON SEMICONDUCTOR CORP	$0	–	-32,300	–	-0.00%	–
BP	Exit	BP PLC-SPONS ADR	$0	–	-7,540	–	-0.00%	–
LAMR	Exit	LAMAR ADVERTISING CO-A	$0	–	-4,875	–	-0.00%	–
OMC	Exit	OMNICOM GROUP	$0	–	-3,125	–	-0.00%	–
TGD	Exit	TIMMINS GOLD CORP	$0	–	-1,308,915	–	-0.00%	–
ETN	Exit	EATON CORP PLC	$0	–	-7,575	–	-0.00%	–
CNO	Exit	CNO FINANCIAL GROUP INC	$0	–	-21,100	–	-0.00%	–
SNR	Exit	NEW SENIOR INVESTMENT GROUP	$0	–	-31,562	–	-0.00%	–
RDSA	Exit	ROYAL DUTCH SHELL-SPON ADR-A	$0	–	-7,081	–	-0.00%	–
DOW	Exit	DOW CHEMICAL CO THE	$0	–	-8,075	–	-0.00%	–
AVT	Exit	AVNET INC	$0	–	-9,350	–	-0.00%	–
VGZ	Exit	VISTA GOLD CORP	$0	–	-1,781,485	–	-0.00%	–
MET	Exit	METLIFE INC	$0	–	-9,725	–	-0.00%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-2,925	–	-0.00%	–
AUY	Exit	YAMANA GOLD INC	$0	–	-288,045	–	-0.00%	–
DVN	Exit	DEVON ENERGY CORP	$0	–	-11,800	–	-0.00%	–
TRV	Exit	TRAVELERS COS INC	$0	–	-4,550	–	-0.00%	–
FCEA	Exit	FOREST CITY ENTERPRISES-CL A	$0	–	-25,948	–	-0.00%	–
ANTM	Exit	ANTHEM INC	$0	–	-4,400	–	-0.01%	–
RGA	Exit	REINSURANCE GROUP OF AMERICA	$0	–	-7,100	–	-0.01%	–
XRA	Exit	EXETER RESOURCE CORP	$0	–	-1,883,768	–	-0.01%	–
AAL	Exit	AMERICAN AIRLINES GROUP INC	$0	–	-15,000	–	-0.01%	–
AMKR	Exit	AMKOR TECHNOLOGY INC	$0	–	-140,859	–	-0.01%	–
PPPMF	Exit	PRIMERO MINING CORP	$0	–	-276,407	–	-0.01%	–
AET	Exit	AETNA INC	$0	–	-6,500	–	-0.01%	–
LNC	Exit	LINCOLN NATIONAL CORP	$0	–	-15,500	–	-0.01%	–
C	Exit	CITIGROUP INC	$0	–	-16,033	–	-0.01%	–
FDX	Exit	FEDEX CORP	$0	–	-5,500	–	-0.01%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-14,533	–	-0.01%	–
DAL	Exit	DELTA AIR LINES INC	$0	–	-18,420	–	-0.01%	–
OXY	Exit	OCCIDENTAL PETROLEUM CORP	$0	–	-12,848	–	-0.01%	–
APC	Exit	ANADARKO PETROLEUM CORP	$0	–	-14,005	–	-0.01%	–
	Exit	CAMECO CORPput	$0	–	-80,000	–	-0.01%	–
LODE	Exit	COMSTOCK MINING INC	$0	–	-1,584,982	–	-0.01%	–
CCJ	Exit	CAMECO CORP	$0	–	-80,000	–	-0.01%	–
DD	Exit	DU PONT E.I. DE NEMOURS	$0	–	-20,000	–	-0.01%	–
GG	Exit	GOLDCORP INC	$0	–	-80,000	–	-0.01%	–
ORCL	Exit	ORACLE CORP	$0	–	-29,710	–	-0.01%	–
GMWSB	Exit	GENERAL MOTORS CO.warrant	$0	–	-40,800	–	-0.01%	–
SLW	Exit	SILVER WHEATON CORP	$0	–	-126,332	–	-0.01%	–
PMCS	Exit	PMC - SIERRA INC	$0	–	-210,788	–	-0.01%	–
	Exit	NEWMONT MINING CORPcall	$0	–	-100,000	–	-0.01%	–
SSRI	Exit	SILVER STANDARD RESOURCES	$0	–	-270,664	–	-0.01%	–
	Exit	HERTZ GLOBAL HOLDINGS INCput	$0	–	-100,000	–	-0.01%	–
	Exit	JPMORGAN CHASE & COput	$0	–	-30,000	–	-0.02%	–
BACWSB	Exit	BANK OF AMERICA CORPwarrant	$0	–	-125,000	–	-0.02%	–
MAG	Exit	MAG SILVER CORP	$0	–	-282,123	–	-0.02%	–
SWC	Exit	STILLWATER MINING CO	$0	–	-207,132	–	-0.02%	–
	Exit	CSX CORPput	$0	–	-80,000	–	-0.02%	–
GFI	Exit	GOLD FIELDS LTD-SPONS ADR	$0	–	-830,133	–	-0.02%	–
	Exit	QUALCOMM INCput	$0	–	-40,000	–	-0.02%	–
UPS	Exit	UNITED PARCEL SERVICE-CL B	$0	–	-26,000	–	-0.02%	–
	Exit	MICROSOFT CORPput	$0	–	-60,000	–	-0.02%	–
SCHW	Exit	SCHWAB CHARLES CORP	$0	–	-100,000	–	-0.02%	–
	Exit	SCHWAB CHARLES CORPput	$0	–	-100,000	–	-0.02%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-455,861	–	-0.02%	–
MSM	Exit	MSC INDUSTRIAL DIRECT CO-A	$0	–	-50,000	–	-0.02%	–
	Exit	GOLDCORP INCcall	$0	–	-240,000	–	-0.02%	–
	Exit	BARRICK GOLD CORPcall	$0	–	-500,000	–	-0.03%	–
	Exit	WHOLE FOODS MARKET INCput	$0	–	-100,000	–	-0.03%	–
	Exit	MONSANTO COput	$0	–	-40,000	–	-0.03%	–
	Exit	UNITED TECHNOLOGIES CORPput	$0	–	-40,000	–	-0.03%	–
GDXJ	Exit	MARKET VECTORS JR GOLD MINER	$0	–	-180,000	–	-0.03%	–
	Exit	REALOGY HOLDINGS CORPput	$0	–	-100,000	–	-0.03%	–
	Exit	UNITED PARCEL SERVICE-CL Bput	$0	–	-40,000	–	-0.03%	–
GNCIQ	Exit	GNC HOLDINGS INC-CL A	$0	–	-100,000	–	-0.03%	–
	Exit	The Walt Disney Co.put	$0	–	-40,000	–	-0.03%	–
AKG	Exit	ASANKO GOLD INC	$0	–	-2,722,646	–	-0.03%	–
CF	Exit	CF INDUSTRIES HOLDINGS INC	$0	–	-90,000	–	-0.03%	–
CLDPQ	Exit	CLOUD PEAK ENERGY INC	$0	–	-1,586,600	–	-0.03%	–
	Exit	CIENA CORPput	$0	–	-200,000	–	-0.03%	–
	Exit	HARLEY-DAVIDSON INCput	$0	–	-80,000	–	-0.04%	–
PVG	Exit	PRETIUM RESOURCES INC	$0	–	-719,608	–	-0.04%	–
	Exit	PHILLIPS 66put	$0	–	-60,000	–	-0.04%	–
	Exit	DU PONT E.I. DE NEMOURSput	$0	–	-100,000	–	-0.04%	–
BCOR	Exit	BLUCORA INC	$0	–	-342,800	–	-0.04%	–
	Exit	EXPRESS SCRIPTS HOLDING COput	$0	–	-60,000	–	-0.04%	–
AGI	Exit	ALAMOS GOLD INC-CLASS A	$0	–	-1,449,402	–	-0.04%	–
CIEN	Exit	CIENA CORP	$0	–	-260,000	–	-0.04%	–
	Exit	AMERICAN EXPRESS COput	$0	–	-80,000	–	-0.05%	–
	Exit	GENERAL MOTORS CO.put	$0	–	-200,000	–	-0.05%	–
	Exit	ASHLAND INCput	$0	–	-60,000	–	-0.05%	–
	Exit	TIFFANY & COput	$0	–	-80,000	–	-0.05%	–
ALSN	Exit	ALLISON TRANSMISSION HOLDING	$0	–	-230,000	–	-0.05%	–
	Exit	HCA HOLDINGS INCput	$0	–	-80,000	–	-0.05%	–
	Exit	APPLE INCput	$0	–	-60,000	–	-0.05%	–
	Exit	UNION PACIFIC CORPput	$0	–	-80,000	–	-0.06%	–
	Exit	CHEVRON CORPput	$0	–	-100,000	–	-0.06%	–
	Exit	GNC HOLDINGS INC-CL Acall	$0	–	-200,000	–	-0.07%	–
DISH	Exit	DISH NETWORK CORP-A	$0	–	-150,000	–	-0.07%	–
TWC	Exit	TIME WARNER CABLE	$0	–	-50,000	–	-0.07%	–
	Exit	TIME WARNER CABLEput	$0	–	-50,000	–	-0.07%	–
INFN	Exit	INFINERA CORP	$0	–	-470,000	–	-0.08%	–
	Exit	JOHNSON & JOHNSONput	$0	–	-100,000	–	-0.08%	–
RLGY	Exit	REALOGY HOLDINGS CORP	$0	–	-250,000	–	-0.08%	–
CRS	Exit	CARPENTER TECHNOLOGY INC.	$0	–	-326,236	–	-0.08%	–
FCN	Exit	FTI CONSULTING INC	$0	–	-252,000	–	-0.08%	–
CSCO	Exit	CISCO SYSTEMS INC	$0	–	-395,000	–	-0.08%	–
QCOM	Exit	QUALCOMM INC	$0	–	-200,000	–	-0.09%	–
	Exit	TWITTER INCcall	$0	–	-400,000	–	-0.09%	–
WFC	Exit	WELLS FARGO & CO	$0	–	-215,000	–	-0.09%	–
	Exit	COMCAST CORP-CLASS Aput	$0	–	-200,000	–	-0.09%	–
CMCSA	Exit	COMCAST CORP-CLASS A	$0	–	-200,000	–	-0.09%	–
	Exit	GOOGLE INC-CL Acall	$0	–	-20,000	–	-0.10%	–
	Exit	FACEBOOK INC-Aput	$0	–	-150,000	–	-0.11%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWRE	$0	–	-490,000	–	-0.12%	–
HPQ	Exit	HEWLETT-PACKARD CO	$0	–	-624,470	–	-0.13%	–
QRTEA	Exit	LIBERTY INTERACTIVE CORP Q-A	$0	–	-606,800	–	-0.13%	–
	Exit	APPLE INCcall	$0	–	-150,000	–	-0.14%	–
GM	Exit	GENERAL MOTORS CO.	$0	–	-610,215	–	-0.15%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-235,000	–	-0.15%	–
AGN	Exit	ALLERGAN PLC	$0	–	-70,000	–	-0.16%	–
PFE	Exit	PFIZER INC	$0	–	-642,637	–	-0.16%	–
	Exit	LAS VEGAS SANDS CORPput	$0	–	-600,000	–	-0.19%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-542,939	–	-0.20%	–
AIG	Exit	AMERICAN INTERNATIONAL GROUP	$0	–	-520,300	–	-0.24%	–
ESRX	Exit	EXPRESS SCRIPTS HOLDING CO	$0	–	-415,000	–	-0.27%	–
SPY	Exit	SPDR S&P 500 ETF TRUST	$0	–	-220,000	–	-0.34%	–
AER	Exit	AERCAP HOLDINGS NV	$0	–	-1,115,000	–	-0.35%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-1,750,000	–	-0.36%	–
	Exit	SPDR GOLD SHAREScall	$0	–	-600,000	–	-0.52%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-702,025	–	-0.54%	–
	Exit	CHARTER COMMUNICATION-Aput	$0	–	-400,000	–	-0.57%	–
	Exit	NETFLIX INCput	$0	–	-700,000	–	-0.59%	–
DOFSQ	Exit	DIAMOND OFFSHORE DRILLING	$0	–	-73,119,047	–	-10.32%	–
BWP	Exit	BOARDWALK PIPELINE COMMON UNITS	$0	–	-125,586,133	–	-12.06%	–
CNA	Exit	CNA FINANCIAL CORP	$0	–	-242,382,673	–	-69.08%	–

Q3 2015

			Value		Shares		↓ Weighting
DOFSQ	Buy	DIAMOND OFFSHORE DRILLING	$1,264,960,000	-32.8%	73,119,047	+0.3%	10.32%	-25.1%
	New	NETFLIX INCput	$72,282,000	–	700,000	–	0.59%	–
	New	CHARTER COMMUNICATION-Aput	$70,340,000	–	400,000	–	0.57%	–
JNJ	New	JOHNSON & JOHNSON	$65,534,000	–	702,025	–	0.54%	–
	New	SPDR GOLD SHAREScall	$64,116,000	–	600,000	–	0.52%	–
GE	Buy	GENERAL ELECTRIC CO	$44,135,000	+137.3%	1,750,000	+150.0%	0.36%	+164.7%
AER	Buy	AERCAP HOLDINGS NV	$42,638,000	-8.7%	1,115,000	+9.3%	0.35%	+1.8%
SPY	New	SPDR S&P 500 ETF TRUST	$42,159,000	–	220,000	–	0.34%	–
ESRX	Sell	EXPRESS SCRIPTS HOLDING CO	$33,598,000	-24.4%	415,000	-17.0%	0.27%	-16.0%
AIG	Buy	AMERICAN INTERNATIONAL GROUP	$29,563,000	+5.0%	520,300	+14.3%	0.24%	+17.0%
MSFT	Sell	MICROSOFT CORP	$24,030,000	-0.7%	542,939	-0.9%	0.20%	+10.7%
	New	LAS VEGAS SANDS CORPput	$22,782,000	–	600,000	–	0.19%	–
PFE	Buy	PFIZER INC	$20,185,000	+5.3%	642,637	+12.5%	0.16%	+17.9%
AGN	Buy	ALLERGAN PLC	$19,027,000	+25.4%	70,000	+40.0%	0.16%	+39.6%
WDC	Buy	WESTERN DIGITAL CORP	$18,668,000	+19.0%	235,000	+17.5%	0.15%	+32.2%
GM	Buy	GENERAL MOTORS CO.	$18,319,000	+53.5%	610,215	+70.5%	0.15%	+71.3%
	Sell	APPLE INCcall	$16,545,000	-67.0%	150,000	-62.5%	0.14%	-63.3%
HPQ	Buy	HEWLETT-PACKARD CO	$15,993,000	+27.0%	624,470	+48.9%	0.13%	+41.3%
QRTEA	Buy	LIBERTY INTERACTIVE CORP Q-A	$15,916,000	+1.2%	606,800	+7.1%	0.13%	+13.0%
TTWO	Buy	TAKE-TWO INTERACTIVE SOFTWRE	$14,078,000	+151.5%	490,000	+141.4%	0.12%	+180.5%
	New	FACEBOOK INC-Aput	$13,485,000	–	150,000	–	0.11%	–
	New	GOOGLE INC-CL Acall	$12,767,000	–	20,000	–	0.10%	–
CMCSA	Buy	COMCAST CORP-CLASS A	$11,376,000	+89.2%	200,000	+100.0%	0.09%	+111.4%
	New	COMCAST CORP-CLASS Aput	$11,376,000	–	200,000	–	0.09%	–
WFC	Sell	WELLS FARGO & CO	$11,040,000	-12.8%	215,000	-4.4%	0.09%	-3.2%
	New	TWITTER INCcall	$10,776,000	–	400,000	–	0.09%	–
QCOM	New	QUALCOMM INC	$10,746,000	–	200,000	–	0.09%	–
FCN	Buy	FTI CONSULTING INC	$10,461,000	+28.8%	252,000	+27.9%	0.08%	+41.7%
CRS	Buy	CARPENTER TECHNOLOGY INC.	$9,712,000	+4068.2%	326,236	+5304.8%	0.08%	+3850.0%
RLGY	Buy	REALOGY HOLDINGS CORP	$9,408,000	+0.7%	250,000	+25.0%	0.08%	+13.2%
	New	JOHNSON & JOHNSONput	$9,335,000	–	100,000	–	0.08%	–
INFN	Sell	INFINERA CORP	$9,193,000	-8.7%	470,000	-2.1%	0.08%	+1.4%
TWC	Sell	TIME WARNER CABLE	$8,969,000	-40.8%	50,000	-41.2%	0.07%	-34.2%
	New	TIME WARNER CABLEput	$8,969,000	–	50,000	–	0.07%	–
DISH	Sell	DISH NETWORK CORP-A	$8,751,000	-35.4%	150,000	-25.0%	0.07%	-28.3%
	New	GNC HOLDINGS INC-CL Acall	$8,084,000	–	200,000	–	0.07%	–
	New	CHEVRON CORPput	$7,888,000	–	100,000	–	0.06%	–
	New	UNION PACIFIC CORPput	$7,073,000	–	80,000	–	0.06%	–
ALSN	New	ALLISON TRANSMISSION HOLDING	$6,139,000	–	230,000	–	0.05%	–
	Buy	GENERAL MOTORS CO.put	$6,004,000	+80.1%	200,000	+100.0%	0.05%	+104.2%
	New	AMERICAN EXPRESS COput	$5,930,000	–	80,000	–	0.05%	–
AGI	New	ALAMOS GOLD INC-CLASS A	$5,377,000	–	1,449,402	–	0.04%	–
CIEN	Sell	CIENA CORP	$5,387,000	-24.2%	260,000	-13.3%	0.04%	-15.4%
BCOR	Sell	BLUCORA INC	$4,720,000	-42.6%	342,800	-32.7%	0.04%	-35.0%
	New	DU PONT E.I. DE NEMOURSput	$4,820,000	–	100,000	–	0.04%	–
CF	New	CF INDUSTRIES HOLDINGS INC	$4,041,000	–	90,000	–	0.03%	–
GNCIQ	Buy	GNC HOLDINGS INC-CL A	$4,042,000	+81.7%	100,000	+100.0%	0.03%	+106.2%
	New	UNITED TECHNOLOGIES CORPput	$3,560,000	–	40,000	–	0.03%	–
	New	WHOLE FOODS MARKET INCput	$3,165,000	–	100,000	–	0.03%	–
	Buy	BARRICK GOLD CORPcall	$3,180,000	-0.6%	500,000	+66.7%	0.03%	+13.0%
MSM	New	MSC INDUSTRIAL DIRECT CO-A	$3,052,000	–	50,000	–	0.02%	–
GOLD	Buy	BARRICK GOLD CORP	$2,899,000	-38.8%	455,861	+2.6%	0.02%	-31.4%
SCHW	Sell	SCHWAB CHARLES CORP	$2,856,000	-20.5%	100,000	-9.1%	0.02%	-11.5%
UPS	Sell	UNITED PARCEL SERVICE-CL B	$2,566,000	-11.7%	26,000	-13.3%	0.02%	0.0%
	New	CSX CORPput	$2,152,000	–	80,000	–	0.02%	–
PMCS	Sell	PMC - SIERRA INC	$1,427,000	-28.1%	210,788	-9.1%	0.01%	-20.0%
ORCL	Sell	ORACLE CORP	$1,073,000	-90.5%	29,710	-89.4%	0.01%	-89.2%
LODE	Buy	COMSTOCK MINING INC	$967,000	+443.3%	1,584,982	+421.0%	0.01%	+700.0%
DD	New	DU PONT E.I. DE NEMOURS	$964,000	–	20,000	–	0.01%	–
APC	Buy	ANADARKO PETROLEUM CORP	$846,000	+4.2%	14,005	+34.7%	0.01%	+16.7%
JPM	Sell	JPMORGAN CHASE & CO	$886,000	-94.5%	14,533	-93.9%	0.01%	-94.1%
C	Sell	CITIGROUP INC	$795,000	-14.2%	16,033	-4.5%	0.01%	-14.3%
XRA	Buy	EXETER RESOURCE CORP	$594,000	-28.1%	1,883,768	+9.5%	0.01%	-16.7%
AMKR	Sell	AMKOR TECHNOLOGY INC	$632,000	-29.5%	140,859	-6.1%	0.01%	-28.6%
AUY	Buy	YAMANA GOLD INC	$478,000	-21.5%	288,045	+42.3%	0.00%	0.0%
FCEA	Buy	FOREST CITY ENTERPRISES-CL A	$522,000	+30.2%	25,948	+43.1%	0.00%	+33.3%
CNO	Sell	CNO FINANCIAL GROUP INC	$397,000	-12.0%	21,100	-14.2%	0.00%	0.0%
ETN	Sell	EATON CORP PLC	$389,000	-35.1%	7,575	-14.6%	0.00%	-25.0%
DOW	Sell	DOW CHEMICAL CO THE	$342,000	-23.3%	8,075	-7.4%	0.00%	0.0%
RDSA	Buy	ROYAL DUTCH SHELL-SPON ADR-A	$336,000	+41.2%	7,081	+69.4%	0.00%	+50.0%
GRPU	Buy	GRANITE REAL ESTATE INVESTMENT	$260,000	-5.8%	9,196	+13.6%	0.00%	0.0%
BP	Sell	BP PLC-SPONS ADR	$230,000	-29.2%	7,540	-7.4%	0.00%	0.0%
BKD	Buy	BROOKDALE SENIOR LIVING INC	$253,000	+9.5%	11,005	+65.0%	0.00%	0.0%
CVA	Sell	COVANTA HOLDING CORP	$299,000	-48.7%	17,136	-37.7%	0.00%	-50.0%
XOM	New	EXXON MOBIL CORP	$270,000	–	3,625	–	0.00%	–
BEN	Buy	FRANKLIN RESOURCES INC	$203,000	-13.2%	5,450	+14.1%	0.00%	0.0%
ICON	New	ICONIX BRAND GROUP INC	$250,000	–	18,485	–	0.00%	–
IOSP	Sell	INNOSPEC INC	$298,000	-1.3%	6,400	-4.5%	0.00%	0.0%
IBM	Sell	INTL BUSINESS MACHINES CORP	$217,000	-25.9%	1,500	-16.7%	0.00%	0.0%
KBR	Buy	KBR INC	$290,000	-13.9%	17,400	+0.6%	0.00%	0.0%
ON	Buy	ON SEMICONDUCTOR CORP	$304,000	-6.5%	32,300	+16.1%	0.00%	0.0%
SPLS	Buy	STAPLES INC	$276,000	-11.8%	23,523	+15.0%	0.00%	0.0%
TEX	Buy	TEREX CORP	$222,000	-17.5%	12,350	+6.7%	0.00%	0.0%
WMT	Buy	WAL-MART STORES INC	$259,000	+17.7%	4,000	+29.0%	0.00%	0.0%
AXS	Sell	AXIS CAPITAL HOLDINGS LTD	$223,000	-11.2%	4,150	-11.7%	0.00%	0.0%
PSTB	Sell	PARK STERLING CORP	$133,000	-6.3%	19,615	-0.5%	0.00%	0.0%
MXWL	Buy	MAXWELL TECHNOLOGIES INC	$95,000	+23.4%	17,511	+36.6%	0.00%	0.0%
HSC	New	HARSCO CORP	$92,000	–	10,113	–	0.00%	–
GOV	New	GOVERNMENT PROPERTIES INCOME	$166,000	–	10,400	–	0.00%	–
FCEL	Buy	FUELCELL ENERGY INC	$69,000	-4.2%	93,776	+27.7%	0.00%	0.0%
BBCN	New	BBCN BANCORP INC	$153,000	–	10,175	–	0.00%	–
TNK	Buy	TEEKAY TANKERS LTD-CLASS A	$170,000	+6.9%	24,698	+2.9%	0.00%	0.0%
TECK	Buy	TECK RESOURCES LTD-CLS B	$97,000	-15.7%	20,195	+73.8%	0.00%	0.0%
SPNV	Buy	SUPERIOR ENERGY SERVICES INC	$179,000	-26.9%	14,150	+21.5%	0.00%	-50.0%
EXXIQ	Sell	ENERGY XXI LTD	$11,000	-66.7%	10,533	-16.6%	0.00%	–
NG	Sell	NOVAGOLD RESOURCES INC	$48,000	-46.7%	13,166	-50.0%	0.00%	-100.0%
KTOS	Buy	KRATOS DEFENSE & SECURITY	$48,000	-28.4%	11,324	+5.8%	0.00%	–
ABT	Exit	Abbott Laboratories	$0	–	-4,075	–	-0.00%	–
NAT	Exit	NORDIC AMERICAN TANKERS LTD	$0	–	-13,381	–	-0.00%	–
ACM	Exit	AECOM	$0	–	-6,319	–	-0.00%	–
TRCO	Exit	TRIBUNE MEDIA CO - A	$0	–	-4,300	–	-0.00%	–
CI	Exit	CIGNA CORP	$0	–	-1,800	–	-0.00%	–
PNC	Exit	PNC FINANCIAL SERVICES GROUP	$0	–	-2,139	–	-0.00%	–
VOYA	Exit	VOYA FINANCIAL INC	$0	–	-6,150	–	-0.00%	–
BAX	Exit	BAXTER INTERNATIONAL INC	$0	–	-3,525	–	-0.00%	–
NWSA	Exit	NEWS CORP - CLASS A	$0	–	-19,995	–	-0.00%	–
SWK	Exit	STANLEY BLACK & DECKER INC	$0	–	-1,950	–	-0.00%	–
GLNG	Exit	GOLAR LNG LTD	$0	–	-6,618	–	-0.00%	–
	Exit	3D SYSTEMS CORPput	$0	–	-40,000	–	-0.01%	–
AGI	Exit	ALAMOS GOLD INC	$0	–	-160,585	–	-0.01%	–
AUQ	Exit	AURICO GOLD INC	$0	–	-337,897	–	-0.01%	–
RBYCF	Exit	RUBICON MINERALS CORP	$0	–	-1,304,317	–	-0.01%	–
HCA	Exit	HCA HOLDINGS INC	$0	–	-20,000	–	-0.01%	–
	Exit	CABLEVISION SYSTEMS-NY GRP-Acall	$0	–	-100,000	–	-0.02%	–
VIAB	Exit	VIACOM INC-CLASS B	$0	–	-50,000	–	-0.02%	–
STZ	Exit	CONSTELLATION BRANDS INC-A	$0	–	-30,000	–	-0.03%	–
	Exit	SPDR S&P METALS & MINING ETFcall	$0	–	-500,000	–	-0.09%	–
GOOGL	Exit	GOOGLE INC-CL A	$0	–	-25,000	–	-0.10%	–
TWTR	Exit	TWITTER INC	$0	–	-400,000	–	-0.11%	–
	Exit	TWITTER INCput	$0	–	-400,000	–	-0.11%	–

Q2 2015

			Value		Shares		↓ Weighting
CNA	New	CNA FINANCIAL CORP	$9,261,442,000	–	242,382,673	–	67.85%	–
DOFSQ	New	DIAMOND OFFSHORE DRILLING	$1,881,249,000	–	72,888,374	–	13.78%	–
BWP	New	BOARDWALK PIPELINE COMMON UNITS	$1,823,511,000	–	125,586,133	–	13.36%	–
	New	APPLE INCcall	$50,170,000	–	400,000	–	0.37%	–
AER	New	AERCAP HOLDINGS NV	$46,706,000	–	1,020,000	–	0.34%	–
ESRX	New	EXPRESS SCRIPTS HOLDING CO	$44,470,000	–	500,000	–	0.33%	–
AIG	New	AMERICAN INTERNATIONAL GROUP	$28,147,000	–	455,300	–	0.21%	–
MSFT	New	MICROSOFT CORP	$24,192,000	–	547,939	–	0.18%	–
PFE	New	PFIZER INC	$19,160,000	–	571,432	–	0.14%	–
GE	New	GENERAL ELECTRIC CO	$18,599,000	–	700,000	–	0.14%	–
JPM	New	JPMORGAN CHASE & CO	$16,231,000	–	239,533	–	0.12%	–
QRTEA	New	LIBERTY INTERACTIVE CORP Q-A	$15,729,000	–	566,800	–	0.12%	–
WDC	New	WESTERN DIGITAL CORP	$15,684,000	–	200,000	–	0.12%	–
TWC	New	TIME WARNER CABLE	$15,144,000	–	85,000	–	0.11%	–
AGN	New	ALLERGAN PLC	$15,173,000	–	50,000	–	0.11%	–
TWTR	New	TWITTER INC	$14,488,000	–	400,000	–	0.11%	–
	New	TWITTER INCput	$14,488,000	–	400,000	–	0.11%	–
GOOGL	New	GOOGLE INC-CL A	$13,501,000	–	25,000	–	0.10%	–
DISH	New	DISH NETWORK CORP-A	$13,542,000	–	200,000	–	0.10%	–
WFC	New	WELLS FARGO & CO	$12,654,000	–	225,000	–	0.09%	–
HPQ	New	HEWLETT-PACKARD CO	$12,588,000	–	419,470	–	0.09%	–
	New	SPDR S&P METALS & MINING ETFcall	$12,165,000	–	500,000	–	0.09%	–
GM	New	GENERAL MOTORS CO.	$11,931,000	–	357,955	–	0.09%	–
ORCL	New	ORACLE CORP	$11,272,000	–	279,710	–	0.08%	–
CSCO	New	CISCO SYSTEMS INC	$10,847,000	–	395,000	–	0.08%	–
INFN	New	INFINERA CORP	$10,070,000	–	480,000	–	0.07%	–
RLGY	New	REALOGY HOLDINGS CORP	$9,344,000	–	200,000	–	0.07%	–
FCN	New	FTI CONSULTING INC	$8,124,000	–	197,000	–	0.06%	–
BCOR	New	BLUCORA INC	$8,222,000	–	509,100	–	0.06%	–
	New	APPLE INCput	$7,526,000	–	60,000	–	0.06%	–
	New	ASHLAND INCput	$7,314,000	–	60,000	–	0.05%	–
	New	TIFFANY & COput	$7,344,000	–	80,000	–	0.05%	–
CLDPQ	New	CLOUD PEAK ENERGY INC	$7,394,000	–	1,586,600	–	0.05%	–
	New	HCA HOLDINGS INCput	$7,258,000	–	80,000	–	0.05%	–
CIEN	New	CIENA CORP	$7,104,000	–	300,000	–	0.05%	–
CMCSA	New	COMCAST CORP-CLASS A	$6,014,000	–	100,000	–	0.04%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWRE	$5,597,000	–	203,000	–	0.04%	–
	New	EXPRESS SCRIPTS HOLDING COput	$5,336,000	–	60,000	–	0.04%	–
GOLD	New	BARRICK GOLD CORP	$4,735,000	–	444,206	–	0.04%	–
	New	CIENA CORPput	$4,736,000	–	200,000	–	0.04%	–
	New	PHILLIPS 66put	$4,834,000	–	60,000	–	0.04%	–
AKG	New	ASANKO GOLD INC	$4,795,000	–	2,722,646	–	0.04%	–
	New	REALOGY HOLDINGS CORPput	$4,672,000	–	100,000	–	0.03%	–
	New	The Walt Disney Co.put	$4,566,000	–	40,000	–	0.03%	–
	New	HARLEY-DAVIDSON INCput	$4,508,000	–	80,000	–	0.03%	–
GDXJ	New	MARKET VECTORS JR GOLD MINER	$4,347,000	–	180,000	–	0.03%	–
	New	MONSANTO COput	$4,264,000	–	40,000	–	0.03%	–
PVG	New	PRETIUM RESOURCES INC	$3,900,000	–	719,608	–	0.03%	–
	New	UNITED PARCEL SERVICE-CL Bput	$3,876,000	–	40,000	–	0.03%	–
	New	GOLDCORP INCcall	$3,888,000	–	240,000	–	0.03%	–
SCHW	New	SCHWAB CHARLES CORP	$3,592,000	–	110,000	–	0.03%	–
STZ	New	CONSTELLATION BRANDS INC-A	$3,481,000	–	30,000	–	0.03%	–
	New	SCHWAB CHARLES CORPput	$3,265,000	–	100,000	–	0.02%	–
	New	GENERAL MOTORS CO.put	$3,333,000	–	100,000	–	0.02%	–
VIAB	New	VIACOM INC-CLASS B	$3,232,000	–	50,000	–	0.02%	–
	New	BARRICK GOLD CORPcall	$3,198,000	–	300,000	–	0.02%	–
UPS	New	UNITED PARCEL SERVICE-CL B	$2,907,000	–	30,000	–	0.02%	–
GFI	New	GOLD FIELDS LTD-SPONS ADR	$2,681,000	–	830,133	–	0.02%	–
	New	MICROSOFT CORPput	$2,649,000	–	60,000	–	0.02%	–
	New	CABLEVISION SYSTEMS-NY GRP-Acall	$2,394,000	–	100,000	–	0.02%	–
	New	QUALCOMM INCput	$2,505,000	–	40,000	–	0.02%	–
SWC	New	STILLWATER MINING CO	$2,401,000	–	207,132	–	0.02%	–
	New	NEWMONT MINING CORPcall	$2,336,000	–	100,000	–	0.02%	–
BACWSB	New	BANK OF AMERICA CORPwarrant	$2,128,000	–	125,000	–	0.02%	–
SLW	New	SILVER WHEATON CORP	$2,189,000	–	126,332	–	0.02%	–
GNCIQ	New	GNC HOLDINGS INC-CL A	$2,224,000	–	50,000	–	0.02%	–
MAG	New	MAG SILVER CORP	$2,211,000	–	282,123	–	0.02%	–
	New	JPMORGAN CHASE & COput	$2,033,000	–	30,000	–	0.02%	–
PMCS	New	PMC - SIERRA INC	$1,984,000	–	231,788	–	0.02%	–
HCA	New	HCA HOLDINGS INC	$1,814,000	–	20,000	–	0.01%	–
	New	HERTZ GLOBAL HOLDINGS INCput	$1,812,000	–	100,000	–	0.01%	–
SSRI	New	SILVER STANDARD RESOURCES	$1,700,000	–	270,664	–	0.01%	–
RBYCF	New	RUBICON MINERALS CORP	$1,357,000	–	1,304,317	–	0.01%	–
GMWSB	New	GENERAL MOTORS CO.warrant	$1,360,000	–	40,800	–	0.01%	–
GG	New	GOLDCORP INC	$1,296,000	–	80,000	–	0.01%	–
PPPMF	New	PRIMERO MINING CORP	$1,077,000	–	276,407	–	0.01%	–
	New	CAMECO CORPput	$1,142,000	–	80,000	–	0.01%	–
CCJ	New	CAMECO CORP	$1,142,000	–	80,000	–	0.01%	–
OXY	New	OCCIDENTAL PETROLEUM CORP	$999,000	–	12,848	–	0.01%	–
C	New	CITIGROUP INC	$927,000	–	16,788	–	0.01%	–
FDX	New	FEDEX CORP	$937,000	–	5,500	–	0.01%	–
AMKR	New	AMKOR TECHNOLOGY INC	$897,000	–	150,000	–	0.01%	–
AGI	New	ALAMOS GOLD INC	$913,000	–	160,585	–	0.01%	–
AUQ	New	AURICO GOLD INC	$960,000	–	337,897	–	0.01%	–
LNC	New	LINCOLN NATIONAL CORP	$918,000	–	15,500	–	0.01%	–
AET	New	AETNA INC	$828,000	–	6,500	–	0.01%	–
DAL	New	DELTA AIR LINES INC	$757,000	–	18,420	–	0.01%	–
APC	New	ANADARKO PETROLEUM CORP	$812,000	–	10,400	–	0.01%	–
	New	3D SYSTEMS CORPput	$781,000	–	40,000	–	0.01%	–
XRA	New	EXETER RESOURCE CORP	$826,000	–	1,719,989	–	0.01%	–
DVN	New	DEVON ENERGY CORP	$702,000	–	11,800	–	0.01%	–
RGA	New	REINSURANCE GROUP OF AMERICA	$674,000	–	7,100	–	0.01%	–
ANTM	New	ANTHEM INC	$722,000	–	4,400	–	0.01%	–
TGD	New	TIMMINS GOLD CORP	$733,000	–	1,308,915	–	0.01%	–
CLF	New	CLIFFS NATURAL RESOURCES INC	$520,000	–	120,000	–	0.00%	–
GS	New	GOLDMAN SACHS GROUP INC	$611,000	–	2,925	–	0.00%	–
CVA	New	COVANTA HOLDING CORP	$583,000	–	27,500	–	0.00%	–
MET	New	METLIFE INC	$545,000	–	9,725	–	0.00%	–
AAL	New	AMERICAN AIRLINES GROUP INC	$599,000	–	15,000	–	0.00%	–
VGZ	New	VISTA GOLD CORP	$588,000	–	1,781,485	–	0.00%	–
AUY	New	YAMANA GOLD INC	$609,000	–	202,445	–	0.00%	–
ETN	New	EATON CORP PLC	$599,000	–	8,870	–	0.00%	–
SNR	New	NEW SENIOR INVESTMENT GROUP	$422,000	–	31,562	–	0.00%	–
APA	New	APACHE CORP	$398,000	–	6,900	–	0.00%	–
AVT	New	AVNET INC	$384,000	–	9,350	–	0.00%	–
CNO	New	CNO FINANCIAL GROUP INC	$451,000	–	24,600	–	0.00%	–
	New	CLIFFS NATURAL RESOURCES INCput	$433,000	–	100,000	–	0.00%	–
DOW	New	DOW CHEMICAL CO/THE	$446,000	–	8,720	–	0.00%	–
FCEA	New	FOREST CITY ENTERPRISES-CL A	$401,000	–	18,133	–	0.00%	–
TRV	New	TRAVELERS COS INC	$440,000	–	4,550	–	0.00%	–
OMC	New	OMNICOM GROUP	$217,000	–	3,125	–	0.00%	–
CMCSK	New	COMCAST CORP-SPECIAL CL A	$240,000	–	4,000	–	0.00%	–
KO	New	COCA-COLA CO/THE	$215,000	–	5,484	–	0.00%	–
CRS	New	CARPENTER TECHNOLOGY INC.	$233,000	–	6,036	–	0.00%	–
CI	New	CIGNA CORP	$292,000	–	1,800	–	0.00%	–
BKD	New	BROOKDALE SENIOR LIVING INC	$231,000	–	6,670	–	0.00%	–
BA	New	BOEING CO.	$250,000	–	1,800	–	0.00%	–
VOYA	New	VOYA FINANCIAL INC	$286,000	–	6,150	–	0.00%	–
WMT	New	WAL-MART STORES INC	$220,000	–	3,100	–	0.00%	–
BBBY	New	BED BATH & BEYOND INC	$304,000	–	4,400	–	0.00%	–
BAX	New	BAXTER INTERNATIONAL INC	$247,000	–	3,525	–	0.00%	–
BAC	New	BANK OF AMERICA CORP	$322,000	–	18,918	–	0.00%	–
BP	New	BP PLC-SPONS ADR	$325,000	–	8,140	–	0.00%	–
AXS	New	AXIS CAPITAL HOLDINGS LTD	$251,000	–	4,700	–	0.00%	–
ARRS	New	ARRIS GROUP INC	$269,000	–	8,800	–	0.00%	–
GLNG	New	GOLAR LNG LTD	$310,000	–	6,618	–	0.00%	–
UBS	New	UBS GROUP AG-REG	$225,000	–	10,625	–	0.00%	–
ACM	New	AECOM	$209,000	–	6,319	–	0.00%	–
LYB	New	LYONDELLBASELL INDU-CL A	$300,000	–	2,900	–	0.00%	–
ON	New	ON SEMICONDUCTOR CORP	$325,000	–	27,825	–	0.00%	–
PNC	New	PNC FINANCIAL SERVICES GROUP	$205,000	–	2,139	–	0.00%	–
NWSA	New	NEWS CORP - CLASS A	$292,000	–	19,995	–	0.00%	–
MS	New	MORGAN STANLEY	$277,000	–	7,129	–	0.00%	–
LAMR	New	LAMAR ADVERTISING CO-A	$280,000	–	4,875	–	0.00%	–
KBR	New	KBR INC	$337,000	–	17,300	–	0.00%	–
RDSA	New	ROYAL DUTCH SHELL-SPON ADR-A	$238,000	–	4,180	–	0.00%	–
IBM	New	INTL BUSINESS MACHINES CORP	$293,000	–	1,800	–	0.00%	–
IOSP	New	INNOSPEC INC	$302,000	–	6,700	–	0.00%	–
GRPU	New	GRANITE REAL ESTATE INVESTMENT	$276,000	–	8,096	–	0.00%	–
SWK	New	STANLEY BLACK & DECKER INC	$205,000	–	1,950	–	0.00%	–
SPLS	New	STAPLES INC	$313,000	–	20,455	–	0.00%	–
SPNV	New	SUPERIOR ENERGY SERVICES INC	$245,000	–	11,650	–	0.00%	–
BEN	New	FRANKLIN RESOURCES INC	$234,000	–	4,775	–	0.00%	–
TEX	New	TEREX CORP	$269,000	–	11,575	–	0.00%	–
F	New	FORD MOTOR CO	$223,000	–	14,875	–	0.00%	–
FHN	New	FIRST HORIZON NATIONAL CORP	$211,000	–	13,473	–	0.00%	–
TRCO	New	TRIBUNE MEDIA CO - A	$230,000	–	4,300	–	0.00%	–
NAT	New	NORDIC AMERICAN TANKERS LTD	$190,000	–	13,381	–	0.00%	–
NWS	New	NEWS CORP - CLASS B	$149,000	–	10,460	–	0.00%	–
GNW	New	GENWORTH FINANCIAL INC-CL A	$148,000	–	19,500	–	0.00%	–
PAAS	New	PAN AMERICAN SILVER CORP	$116,000	–	13,486	–	0.00%	–
PSTB	New	PARK STERLING CORP	$142,000	–	19,715	–	0.00%	–
HTZ	New	HERTZ GLOBAL HOLDINGS INC	$202,000	–	11,175	–	0.00%	–
NG	New	NOVAGOLD RESOURCES INC	$90,000	–	26,333	–	0.00%	–
ABT	New	Abbott Laboratories	$200,000	–	4,075	–	0.00%	–
NPBC	New	NATL PENN BCSHS INC	$122,000	–	10,850	–	0.00%	–
EZPW	New	EZCORP INC-CL A	$117,000	–	15,738	–	0.00%	–
MXWL	New	MAXWELL TECHNOLOGIES INC	$77,000	–	12,821	–	0.00%	–
FCEL	New	FUELCELL ENERGY INC	$72,000	–	73,452	–	0.00%	–
LODE	New	COMSTOCK MINING INC	$178,000	–	304,225	–	0.00%	–
TNK	New	TEEKAY TANKERS LTD-CLASS A	$159,000	–	23,998	–	0.00%	–
JIVE	New	JIVE SOFTWARE INC	$177,000	–	33,673	–	0.00%	–
TECK	New	TECK RESOURCES LTD-CLS B	$115,000	–	11,620	–	0.00%	–
ORIG	New	OCEAN RIG UDW INC	$112,000	–	21,816	–	0.00%	–
EXXIQ	New	ENERGY XXI LTD	$33,000	–	12,626	–	0.00%	–
KTOS	New	KRATOS DEFENSE & SECURITY	$67,000	–	10,700	–	0.00%	–

Q4 2014

			Value		Shares		↓ Weighting
GCA	Exit	GLOBAL CASH ACCESS HOLDINGS	$0	–	-10,754	–	0.00%	–
WLTGQ	Exit	WALTER ENERGY INC	$0	–	-12,570	–	0.00%	–
WTSLQ	Exit	WET SEAL CL A	$0	–	-15,290	–	0.00%	–
CDVIQ	Exit	CAL DIVE INTERNATIONAL INC	$0	–	-75,228	–	0.00%	–
PRE	Exit	PARTNERRE LTD	$0	–	-1,850	–	-0.00%	–
MWW	Exit	MONSTER WORLDWIDE INC	$0	–	-14,575	–	-0.00%	–
1338PS	Exit	UBS AG-REG	$0	–	-10,625	–	-0.00%	–
ARRS	Exit	ARRIS GROUP INC	$0	–	-7,400	–	-0.00%	–
CMCSK	Exit	COMCAST CORP-SPECIAL CL A	$0	–	-4,000	–	-0.00%	–
BRCD	Exit	BROCADE COMMUNICATIONS SYS	$0	–	-20,000	–	-0.00%	–
ARC	Exit	ARC DOCUMENT SOLUTIONS INC	$0	–	-11,631	–	-0.00%	–
NPBC	Exit	NATL PENN BCSHS INC	$0	–	-10,850	–	-0.00%	–
EZPW	Exit	EZCORP INC-CL A	$0	–	-15,738	–	-0.00%	–
MWA	Exit	MUELLER WATER PRODUCTS INC-A	$0	–	-13,578	–	-0.00%	–
NCQ	Exit	NOVACOPPER INC	$0	–	-173,076	–	-0.00%	–
IPG	Exit	INTERPUBLIC GROUP OF COS INC	$0	–	-10,625	–	-0.00%	–
JIVE	Exit	JIVE SOFTWARE INC	$0	–	-30,311	–	-0.00%	–
LM	Exit	LEGG MASON INC	$0	–	-4,075	–	-0.00%	–
KBR	Exit	KBR INC	$0	–	-10,900	–	-0.00%	–
PSTB	Exit	PARK STERLING CORP	$0	–	-19,715	–	-0.00%	–
PAAS	Exit	PAN AMERICAN SILVER CORP	$0	–	-13,486	–	-0.00%	–
FHN	Exit	FIRST HORIZON NATIONAL CORP	$0	–	-12,200	–	-0.00%	–
DOOR	Exit	MASONITE INTERNATIONAL CORP	$0	–	-3,750	–	-0.00%	–
CRS	Exit	CARPENTER TECHNOLOGY INC.	$0	–	-4,836	–	-0.00%	–
MDWCQ	Exit	MIDWAY GOLD CORP	$0	–	-197,679	–	-0.00%	–
PF	Exit	PINNACLE FOODS INC	$0	–	-6,315	–	-0.00%	–
HTZ	Exit	HERTZ GLOBAL HOLDINGS INC	$0	–	-8,665	–	-0.00%	–
NWS	Exit	NEWS CORP - CLASS B	$0	–	-10,460	–	-0.00%	–
EXXIQ	Exit	ENERGY XXI BERMUDA	$0	–	-11,426	–	-0.00%	–
INTC	Exit	INTEL CORP	$0	–	-6,575	–	-0.00%	–
PNC	Exit	PNC FINANCIAL SERVICES GROUP	$0	–	-3,189	–	-0.00%	–
BA	Exit	BOEING CO.	$0	–	-1,800	–	-0.00%	–
CCJ	Exit	CAMECO CORP	$0	–	-20,000	–	-0.00%	–
VOYA	Exit	VOYA FINANCIAL INC	$0	–	-6,925	–	-0.00%	–
MDT	Exit	MEDTRONIC INC	$0	–	-4,745	–	-0.00%	–
KO	Exit	COCA-COLA CO/THE	$0	–	-5,484	–	-0.00%	–
SPNV	Exit	SUPERIOR ENERGY SERVICES INC	$0	–	-8,900	–	-0.00%	–
RCII	Exit	RENT-A-CENTER INC	$0	–	-8,608	–	-0.00%	–
CI	Exit	CIGNA CORP	$0	–	-3,300	–	-0.00%	–
GRPU	Exit	GRANITE REAL ESTATE INVESTMENT	$0	–	-8,096	–	-0.00%	–
PPL	Exit	PPL CORP	$0	–	-7,635	–	-0.00%	–
APA	Exit	APACHE CORP	$0	–	-3,780	–	-0.00%	–
BAC	Exit	BANK OF AMERICA CORP	$0	–	-14,068	–	-0.00%	–
BP	Exit	BP PLC-SPONS ADR	$0	–	-8,140	–	-0.00%	–
LAMR	Exit	LAMAR ADVERTISING CO-A	$0	–	-5,825	–	-0.00%	–
WPX	Exit	WPX ENERGY INC	$0	–	-13,656	–	-0.00%	–
GTIV	Exit	GENTIVA HEALTH SERVICES	$0	–	-14,502	–	-0.00%	–
MS	Exit	MORGAN STANLEY	$0	–	-8,004	–	-0.00%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-1,550	–	-0.00%	–
TEX	Exit	TEREX CORP	$0	–	-9,150	–	-0.00%	–
RDSA	Exit	ROYAL DUTCH SHELL-SPON ADR-A	$0	–	-4,118	–	-0.00%	–
SPLS	Exit	STAPLES INC	$0	–	-26,305	–	-0.00%	–
ORIG	Exit	OCEAN RIG UDW INC	$0	–	-20,716	–	-0.00%	–
LODE	Exit	COMSTOCK MINING INC	$0	–	-218,657	–	-0.00%	–
ABT	Exit	Abbott Laboratories	$0	–	-6,425	–	-0.00%	–
STT	Exit	STATE STREET CORP	$0	–	-3,800	–	-0.00%	–
DOW	Exit	DOW CHEMICAL CO/THE	$0	–	-4,545	–	-0.00%	–
AVT	Exit	AVNET INC	$0	–	-8,150	–	-0.00%	–
DVN	Exit	DEVON ENERGY CORP	$0	–	-6,000	–	-0.00%	–
M504SC	Exit	NEWCASTLE INVESTMENT CORP	$0	–	-34,644	–	-0.00%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-4,132	–	-0.00%	–
ETN	Exit	EATON CORP PLC	$0	–	-7,108	–	-0.00%	–
ON	Exit	ON SEMICONDUCTOR CORP	$0	–	-44,375	–	-0.00%	–
CNO	Exit	CNO FINANCIAL GROUP INC	$0	–	-28,600	–	-0.00%	–
CLF	Exit	CLIFFS NATURAL RESOURCES INC	$0	–	-47,475	–	-0.00%	–
DNRCQ	Exit	DENBURY RESOURCES INC	$0	–	-32,500	–	-0.00%	–
DE	Exit	DEERE & CO	$0	–	-6,100	–	-0.00%	–
ESV	Exit	ENSCO PLC-CL A	$0	–	-11,100	–	-0.00%	–
XRA	Exit	EXETER RESOURCE CORP	$0	–	-642,545	–	-0.00%	–
FCEA	Exit	FOREST CITY ENTERPRISES-CL A	$0	–	-21,088	–	-0.00%	–
NWSA	Exit	NEWS CORP - CLASS A	$0	–	-23,760	–	-0.00%	–
VRTS	Exit	VIRTUS INVESTMENT PARTNERS	$0	–	-2,287	–	-0.00%	–
V107SC	Exit	WELLPOINT INC	$0	–	-4,400	–	-0.00%	–
RGA	Exit	REINSURANCE GROUP OF AMERICA	$0	–	-7,100	–	-0.00%	–
WLL	Exit	WHITING PETROLEUM CORP	$0	–	-7,500	–	-0.00%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-10,433	–	-0.00%	–
MET	Exit	METLIFE INC	$0	–	-9,725	–	-0.00%	–
AAL	Exit	AMERICAN AIRLINES GROUP INC	$0	–	-15,000	–	-0.00%	–
IAG	Exit	IAMGOLD CORP	$0	–	-275,601	–	-0.01%	–
AET	Exit	AETNA INC	$0	–	-9,200	–	-0.01%	–
VGZ	Exit	VISTA GOLD CORP	$0	–	-1,781,485	–	-0.01%	–
	Exit	CAMECO CORPput	$0	–	-40,000	–	-0.01%	–
DAL	Exit	DELTA AIR LINES INC	$0	–	-18,420	–	-0.01%	–
C	Exit	CITIGROUP INC	$0	–	-16,713	–	-0.01%	–
AUQ	Exit	AURICO GOLD INC	$0	–	-235,545	–	-0.01%	–
	Exit	MARKET VECTORS GOLD MINERSput	$0	–	-40,000	–	-0.01%	–
	Exit	CLIFFS NATURAL RESOURCES INCput	$0	–	-100,000	–	-0.01%	–
LNC	Exit	LINCOLN NATIONAL CORP	$0	–	-19,500	–	-0.01%	–
TRV	Exit	TRAVELERS COS INC	$0	–	-12,100	–	-0.01%	–
IBM	Exit	INTL BUSINESS MACHINES CORP	$0	–	-6,500	–	-0.01%	–
FDX	Exit	FEDEX CORP	$0	–	-7,000	–	-0.01%	–
CVA	Exit	COVANTA HOLDING CORP	$0	–	-53,176	–	-0.01%	–
APC	Exit	ANADARKO PETROLEUM CORP	$0	–	-13,591	–	-0.01%	–
AMKR	Exit	AMKOR TECHNOLOGY INC	$0	–	-160,000	–	-0.01%	–
GMWSB	Exit	GENERAL MOTORS CO.warrant	$0	–	-40,800	–	-0.01%	–
OXY	Exit	OCCIDENTAL PETROLEUM CORP	$0	–	-13,107	–	-0.01%	–
GG	Exit	GOLDCORP INC	$0	–	-60,000	–	-0.01%	–
	Exit	BARRICK GOLD CORPput	$0	–	-100,000	–	-0.01%	–
PFE	Exit	PFIZER INC	$0	–	-48,196	–	-0.01%	–
HCA	Exit	HCA HOLDINGS INC	$0	–	-20,000	–	-0.01%	–
GDXJ	Exit	MARKET VECTORS JR GOLD MINER	$0	–	-50,000	–	-0.01%	–
BRCM	Exit	BROADCOM CORP-CL A	$0	–	-40,000	–	-0.01%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-124,436	–	-0.01%	–
	Exit	3D SYSTEMS CORPput	$0	–	-40,000	–	-0.01%	–
RBYCF	Exit	RUBICON MINERALS CORP	$0	–	-1,401,817	–	-0.01%	–
MAG	Exit	MAG SILVER CORP	$0	–	-282,123	–	-0.01%	–
AKG	Exit	ASANKO GOLD INC	$0	–	-989,593	–	-0.01%	–
KGC	Exit	KINROSS GOLD CORP	$0	–	-602,760	–	-0.01%	–
BACWSB	Exit	BANK OF AMERICA CORPwarrant	$0	–	-125,000	–	-0.01%	–
	Exit	MARKET VECTORS GOLD MINERScall	$0	–	-100,000	–	-0.02%	–
MON	Exit	MONSANTO CO	$0	–	-20,000	–	-0.02%	–
PMCS	Exit	PMC - SIERRA INC	$0	–	-300,000	–	-0.02%	–
	Exit	MARKET VECTORS JR GOLD MINERcall	$0	–	-75,000	–	-0.02%	–
	Exit	HERTZ GLOBAL HOLDINGS INCput	$0	–	-100,000	–	-0.02%	–
SLW	Exit	SILVER WHEATON CORP	$0	–	-126,332	–	-0.02%	–
	Exit	MARKET VECTORS JR GOLD MINERput	$0	–	-80,000	–	-0.02%	–
GIL	Exit	GILDAN ACTIVEWEAR INC	$0	–	-50,000	–	-0.02%	–
	Exit	GOLDCORP INCput	$0	–	-120,000	–	-0.02%	–
DD	Exit	DU PONT E.I. DE NEMOURS	$0	–	-40,000	–	-0.02%	–
	Exit	SCHWAB CHARLES CORPput	$0	–	-100,000	–	-0.02%	–
	Exit	CHICO'S FAS INCcall	$0	–	-200,000	–	-0.02%	–
	Exit	AGNICO-EAGLE MINES LTDput	$0	–	-100,000	–	-0.02%	–
PVG	Exit	PRETIUM RESOURCES INC	$0	–	-554,342	–	-0.02%	–
SWC	Exit	STILLWATER MINING CO	$0	–	-207,132	–	-0.02%	–
	Exit	BROADCOM CORP-CL Aput	$0	–	-80,000	–	-0.02%	–
SCHW	Exit	SCHWAB CHARLES CORP	$0	–	-110,000	–	-0.02%	–
NG	Exit	NOVAGOLD RESOURCES INC	$0	–	-1,060,997	–	-0.02%	–
CIEN	Exit	CIENA CORP	$0	–	-200,000	–	-0.02%	–
	Exit	REALOGY HOLDINGS CORPput	$0	–	-100,000	–	-0.02%	–
GFI	Exit	GOLD FIELDS LTD-SPONS ADR	$0	–	-983,428	–	-0.03%	–
	Exit	AGNICO-EAGLE MINES LTDcall	$0	–	-140,000	–	-0.03%	–
CF	Exit	CF INDUSTRIES HOLDINGS INC	$0	–	-15,000	–	-0.03%	–
CLDPQ	Exit	CLOUD PEAK ENERGY INC	$0	–	-350,000	–	-0.03%	–
	Exit	BARRICK GOLD CORPcall	$0	–	-300,000	–	-0.03%	–
	Exit	MONSANTO COput	$0	–	-40,000	–	-0.03%	–
	Exit	NEWMONT MINING CORPcall	$0	–	-200,000	–	-0.03%	–
	Exit	NEWMONT MINING CORPput	$0	–	-200,000	–	-0.03%	–
	Exit	PHILLIPS 66put	$0	–	-60,000	–	-0.03%	–
UPS	Exit	UNITED PARCEL SERVICE-CL B	$0	–	-50,000	–	-0.03%	–
	Exit	BOEING CO.put	$0	–	-40,000	–	-0.04%	–
INFN	Exit	INFINERA CORP	$0	–	-480,000	–	-0.04%	–
	Exit	KATE SPADE & COput	$0	–	-200,000	–	-0.04%	–
	Exit	METLIFE INCput	$0	–	-100,000	–	-0.04%	–
ZBRA	Exit	ZEBRA TECHNOLOGIES CORP-CL A	$0	–	-75,000	–	-0.04%	–
	Exit	LOWE'S COS INCput	$0	–	-100,000	–	-0.04%	–
	Exit	AMERICAN INTERNATIONAL GROUPcall	$0	–	-100,000	–	-0.04%	–
	Exit	HCA HOLDINGS INCput	$0	–	-80,000	–	-0.04%	–
	Exit	GNC HOLDINGS INC-CL Acall	$0	–	-150,000	–	-0.04%	–
RLGY	Exit	REALOGY HOLDINGS CORP	$0	–	-165,000	–	-0.04%	–
	Exit	ASHLAND INCput	$0	–	-60,000	–	-0.04%	–
	Exit	UNITED TECHNOLOGIES CORPput	$0	–	-60,000	–	-0.04%	–
	Exit	CIENA CORPput	$0	–	-400,000	–	-0.04%	–
	Exit	DU PONT E.I. DE NEMOURSput	$0	–	-100,000	–	-0.05%	–
NEM	Exit	NEWMONT MINING CORP	$0	–	-320,000	–	-0.05%	–
XRT	Exit	SPDR S&P RETAIL ETF	$0	–	-100,000	–	-0.06%	–
	Exit	UNITED PARCEL SERVICE-CL Bput	$0	–	-100,000	–	-0.07%	–
HPQ	Exit	HEWLETT-PACKARD CO	$0	–	-286,345	–	-0.07%	–
	Exit	NATIONSTAR MORTGAGE HOLDINGScall	$0	–	-300,000	–	-0.07%	–
	Exit	MGM RESORTS INTERNATIONALcall	$0	–	-450,000	–	-0.07%	–
STZ	Exit	CONSTELLATION BRANDS INC-A	$0	–	-125,000	–	-0.07%	–
AIG	Exit	AMERICAN INTERNATIONAL GROUP	$0	–	-215,300	–	-0.08%	–
	Exit	LAS VEGAS SANDS CORPcall	$0	–	-200,000	–	-0.08%	–
	Exit	GENERAL MOTORS CO.call	$0	–	-400,000	–	-0.09%	–
AER	Exit	AERCAP HOLDINGS NV	$0	–	-322,300	–	-0.09%	–
	Exit	CUMMINS INCcall	$0	–	-100,000	–	-0.09%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-150,000	–	-0.10%	–
SU	Exit	SUNCOR ENERGY INC	$0	–	-425,000	–	-0.10%	–
	Exit	MCKESSON CORPput	$0	–	-80,000	–	-0.11%	–
WFC	Exit	WELLS FARGO & CO	$0	–	-300,000	–	-0.11%	–
CSCO	Exit	CISCO SYSTEMS INC	$0	–	-625,000	–	-0.11%	–
ORCL	Exit	ORACLE CORP	$0	–	-429,710	–	-0.11%	–
	Exit	MICROSOFT CORPput	$0	–	-360,000	–	-0.11%	–
QRTEA	Exit	LIBERTY INTERACTIVE CORP-A	$0	–	-610,000	–	-0.12%	–
	Exit	WYNN RESORTS LTDcall	$0	–	-100,000	–	-0.13%	–
ASH	Exit	ASHLAND INC	$0	–	-200,000	–	-0.14%	–
GM	Exit	GENERAL MOTORS CO.	$0	–	-715,305	–	-0.16%	–
CHTR	Exit	CHARTER COMMUNICATION-A	$0	–	-175,000	–	-0.18%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-677,889	–	-0.21%	–
	Exit	FORD MOTOR COcall	$0	–	-3,500,000	–	-0.35%	–
ESRX	Exit	EXPRESS SCRIPTS HOLDING CO	$0	–	-1,166,100	–	-0.56%	–
BWP	Exit	BOARDWALK PIPELINE COMMON UNITS	$0	–	-125,586,133	–	-15.95%	–
DOFSQ	Exit	DIAMOND OFFSHORE DRILLING	$0	–	-70,104,620	–	-16.31%	–
CNA	Exit	CNA FINANCIAL CORP	$0	–	-242,382,673	–	-62.59%	–

Q3 2014

			Value		Shares		↓ Weighting
ESRX	Buy	EXPRESS SCRIPTS HOLDING CO	$82,362,000	+10.0%	1,166,100	+8.0%	0.56%	+26.8%
	Sell	FORD MOTOR COcall	$51,765,000	-70.0%	3,500,000	-65.0%	0.35%	-65.4%
MSFT	Sell	MICROSOFT CORP	$31,427,000	+0.8%	677,889	-9.4%	0.21%	+15.8%
GM	Sell	GENERAL MOTORS CO.	$22,847,000	-38.0%	715,305	-29.5%	0.16%	-28.6%
ASH	Buy	ASHLAND INC	$20,820,000	+16.0%	200,000	+21.2%	0.14%	+33.0%
QRTEA	New	LIBERTY INTERACTIVE CORP-A	$17,397,000	–	610,000	–	0.12%	–
ORCL	Sell	ORACLE CORP	$16,449,000	-26.8%	429,710	-22.5%	0.11%	-15.2%
WFC	Sell	WELLS FARGO & CO	$15,561,000	-15.4%	300,000	-14.3%	0.11%	-1.9%
SU	Sell	SUNCOR ENERGY INC	$15,364,000	-34.5%	425,000	-22.7%	0.10%	-24.6%
WDC	Sell	WESTERN DIGITAL CORP	$14,598,000	-7.0%	150,000	-11.8%	0.10%	+7.6%
AER	Buy	AERCAP HOLDINGS NV	$13,182,000	-4.1%	322,300	+7.4%	0.09%	+11.1%
	New	CUMMINS INCcall	$13,198,000	–	100,000	–	0.09%	–
	New	GENERAL MOTORS CO.call	$12,776,000	–	400,000	–	0.09%	–
	Sell	LAS VEGAS SANDS CORPcall	$12,442,000	-78.2%	200,000	-73.3%	0.08%	-75.1%
STZ	Sell	CONSTELLATION BRANDS INC-A	$10,895,000	-27.3%	125,000	-26.5%	0.07%	-15.9%
	New	MGM RESORTS INTERNATIONALcall	$10,251,000	–	450,000	–	0.07%	–
HPQ	Sell	HEWLETT-PACKARD CO	$10,157,000	-13.6%	286,345	-17.9%	0.07%	0.0%
XRT	New	SPDR S&P RETAIL ETF	$8,558,000	–	100,000	–	0.06%	–
	Buy	CIENA CORPput	$6,688,000	+54.4%	400,000	+100.0%	0.04%	+73.1%
RLGY	New	REALOGY HOLDINGS CORP	$6,138,000	–	165,000	–	0.04%	–
	New	GNC HOLDINGS INC-CL Acall	$5,811,000	–	150,000	–	0.04%	–
	Sell	AMERICAN INTERNATIONAL GROUPcall	$5,402,000	-71.7%	100,000	-71.4%	0.04%	-67.3%
ZBRA	New	ZEBRA TECHNOLOGIES CORP-CL A	$5,323,000	–	75,000	–	0.04%	–
	New	KATE SPADE & COput	$5,246,000	–	200,000	–	0.04%	–
INFN	Buy	INFINERA CORP	$5,122,000	+21.0%	480,000	+4.3%	0.04%	+40.0%
	Sell	BARRICK GOLD CORPcall	$4,398,000	-91.4%	300,000	-89.3%	0.03%	-90.1%
CLDPQ	New	CLOUD PEAK ENERGY INC	$4,417,000	–	350,000	–	0.03%	–
CF	Sell	CF INDUSTRIES HOLDINGS INC	$4,188,000	-68.2%	15,000	-72.6%	0.03%	-64.1%
GFI	Buy	GOLD FIELDS LTD-SPONS ADR	$3,835,000	+155.7%	983,428	+144.0%	0.03%	+188.9%
	New	REALOGY HOLDINGS CORPput	$3,720,000	–	100,000	–	0.02%	–
CIEN	Buy	CIENA CORP	$3,344,000	-3.5%	200,000	+25.0%	0.02%	+15.0%
GIL	Sell	GILDAN ACTIVEWEAR INC	$2,736,000	-62.8%	50,000	-60.0%	0.02%	-55.8%
MON	Buy	MONSANTO CO	$2,250,000	+80.4%	20,000	+100.0%	0.02%	+114.3%
GOLD	Sell	BARRICK GOLD CORP	$1,824,000	-86.2%	124,436	-82.8%	0.01%	-84.6%
	Sell	BARRICK GOLD CORPput	$1,466,000	-59.9%	100,000	-50.0%	0.01%	-54.5%
PFE	Sell	PFIZER INC	$1,425,000	-7.5%	48,196	-7.2%	0.01%	+11.1%
CVA	Buy	COVANTA HOLDING CORP	$1,128,000	+76.2%	53,176	+71.3%	0.01%	+100.0%
VGZ	Buy	VISTA GOLD CORP	$731,000	-16.8%	1,781,485	+1.3%	0.01%	0.0%
DAL	Sell	DELTA AIR LINES INC	$666,000	-24.3%	18,420	-18.9%	0.01%	0.0%
NWSA	Buy	NEWS CORP - CLASS A	$388,000	0.0%	23,760	+9.8%	0.00%	+50.0%
M504SC	New	NEWCASTLE INVESTMENT CORP	$439,000	–	34,644	–	0.00%	–
CLF	Buy	CLIFFS NATURAL RESOURCES INC	$493,000	-27.2%	47,475	+5.6%	0.00%	-25.0%
JNJ	Sell	JOHNSON & JOHNSON	$440,000	-27.2%	4,132	-28.4%	0.00%	-25.0%
ETN	New	EATON CORP PLC	$450,000	–	7,108	–	0.00%	–
FCEA	Buy	FOREST CITY ENTERPRISES-CL A	$412,000	+15.4%	21,088	+17.3%	0.00%	+50.0%
PPL	Buy	PPL CORP	$251,000	+6.8%	7,635	+15.6%	0.00%	+100.0%
CCJ	Sell	CAMECO CORP	$353,000	-55.0%	20,000	-50.0%	0.00%	-60.0%
LODE	Buy	COMSTOCK MINING INC	$265,000	-13.1%	218,657	+19.7%	0.00%	0.0%
DOW	New	DOW CHEMICAL CO/THE	$238,000	–	4,545	–	0.00%	–
GTIV	Sell	GENTIVA HEALTH SERVICES	$243,000	-28.7%	14,502	-35.9%	0.00%	0.0%
LAMR	Buy	LAMAR ADVERTISING CO-A	$287,000	+11.7%	5,825	+20.1%	0.00%	0.0%
MDT	Buy	MEDTRONIC INC	$294,000	+23.0%	4,745	+26.5%	0.00%	+100.0%
RCII	Sell	RENT-A-CENTER INC	$261,000	-21.4%	8,608	-25.7%	0.00%	0.0%
RDSA	Buy	ROYAL DUTCH SHELL-SPON ADR-A	$314,000	-6.3%	4,118	+1.2%	0.00%	0.0%
SPLS	Sell	STAPLES INC	$318,000	-92.2%	26,305	-93.0%	0.00%	-91.7%
SPNV	Sell	SUPERIOR ENERGY SERVICES INC	$293,000	-26.4%	8,900	-19.1%	0.00%	0.0%
TEX	New	TEREX CORP	$291,000	–	9,150	–	0.00%	–
VOYA	Sell	VOYA FINANCIAL INC	$271,000	-11.4%	6,925	-17.8%	0.00%	0.0%
WPX	Sell	WPX ENERGY INC	$329,000	-19.0%	13,656	-19.7%	0.00%	0.0%
CRS	Buy	CARPENTER TECHNOLOGY INC.	$218,000	-2.7%	4,836	+36.8%	0.00%	0.0%
JIVE	Buy	JIVE SOFTWARE INC	$177,000	-16.1%	30,311	+22.5%	0.00%	0.0%
LM	Sell	LEGG MASON INC	$208,000	-18.1%	4,075	-17.7%	0.00%	0.0%
IPG	Sell	INTERPUBLIC GROUP OF COS INC	$195,000	-23.5%	10,625	-18.6%	0.00%	-50.0%
DOOR	New	MASONITE INTERNATIONAL CORP	$208,000	–	3,750	–	0.00%	–
HTZ	Buy	HERTZ GLOBAL HOLDINGS INC	$220,000	0.0%	8,665	+10.2%	0.00%	0.0%
KBR	Buy	KBR INC	$205,000	-5.5%	10,900	+19.8%	0.00%	0.0%
PF	New	PINNACLE FOODS INC	$206,000	–	6,315	–	0.00%	–
EZPW	Buy	EZCORP INC-CL A	$156,000	-4.9%	15,738	+10.5%	0.00%	0.0%
EXXIQ	New	ENERGY XXI BERMUDA	$130,000	–	11,426	–	0.00%	–
CDVIQ	Buy	CAL DIVE INTERNATIONAL INC	$73,000	-19.8%	75,228	+9.5%	0.00%	-100.0%
GCA	Sell	GLOBAL CASH ACCESS HOLDINGS	$73,000	-36.5%	10,754	-17.0%	0.00%	-100.0%
BHI	Exit	BAKER HUGHES INC	$0	–	-2,800	–	-0.00%	–
BDX	Exit	BECTON DICKINSON AND CO	$0	–	-1,750	–	-0.00%	–
PCG	Exit	P G & E CORP	$0	–	-4,640	–	-0.00%	–
IOSP	Exit	INNOSPEC INC	$0	–	-4,700	–	-0.00%	–
GMWSA	Exit	GENERAL MOTORS CO.warrant	$0	–	-5,552	–	-0.00%	–
DRC	Exit	DRESSER-RAND GROUP INC	$0	–	-3,765	–	-0.00%	–
PH	Exit	PARKER HANNIFIN CORP	$0	–	-1,625	–	-0.00%	–
SIRI	Exit	SIRIUS XM HOLDINGS INC	$0	–	-69,890	–	-0.00%	–
6107SC	Exit	URS CORP	$0	–	-4,425	–	-0.00%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-2,125	–	-0.00%	–
NCT	Exit	NEWCASTLE INVESTMENT CORP	$0	–	-54,435	–	-0.00%	–
ETN	Exit	EATON CORP PLC	$0	–	-4,928	–	-0.00%	–
MCPIQ	Exit	MOLYCORP INC	$0	–	-100,000	–	-0.00%	–
TRW	Exit	TRW AUTOMOTIVE HOLDINGS CORP	$0	–	-3,000	–	-0.00%	–
AUY	Exit	YAMANA GOLD INC	$0	–	-59,600	–	-0.00%	–
THOR	Exit	THORATEC CORP	$0	–	-20,000	–	-0.00%	–
MW	Exit	MEN'S WEARHOUSE INC/THE	$0	–	-75,000	–	-0.02%	–
CMCSA	Exit	COMCAST CORP-CLASS A	$0	–	-100,000	–	-0.03%	–
POST	Exit	POST HOLDINGS INC	$0	–	-150,000	–	-0.04%	–
ALSN	Exit	ALLISON TRANSMISSION HOLDING	$0	–	-250,000	–	-0.05%	–
	Exit	MICROSOFT CORPcall	$0	–	-300,000	–	-0.07%	–
DAN	Exit	DANA HOLDING CORP	$0	–	-550,000	–	-0.08%	–
BBBY	Exit	BED BATH & BEYOND INC	$0	–	-240,000	–	-0.08%	–
	Exit	MANITOWOC CO INC.call	$0	–	-650,000	–	-0.13%	–
	Exit	ISHARES MSCI EMERGING MARKETput	$0	–	-500,000	–	-0.13%	–
GLD	Exit	SPDR GOLD SHARES	$0	–	-200,000	–	-0.15%	–
	Exit	BLACKBERRY LTDcall	$0	–	-2,500,000	–	-0.15%	–
	Exit	ISHARES RUSSELL 2000 ETFcall	$0	–	-500,000	–	-0.35%	–
	Exit	SPDR GOLD SHAREScall	$0	–	-1,500,000	–	-1.13%	–

Q2 2014

			Value		Shares		↓ Weighting
CNA	New	CNA FINANCIAL CORP	$9,797,108,000	–	242,382,673	–	57.72%	–
DOFSQ	New	DIAMOND OFFSHORE DRILLING	$3,479,292,000	–	70,104,620	–	20.50%	–
BWP	New	BOARDWALK PIPELINE COMMON UNITS	$2,323,343,000	–	125,586,133	–	13.69%	–
	New	SPDR GOLD SHAREScall	$192,060,000	–	1,500,000	–	1.13%	–
	New	FORD MOTOR COcall	$172,400,000	–	10,000,000	–	1.02%	–
ESRX	New	EXPRESS SCRIPTS HOLDING CO	$74,876,000	–	1,080,000	–	0.44%	–
	New	ISHARES RUSSELL 2000 ETFcall	$59,405,000	–	500,000	–	0.35%	–
	New	LAS VEGAS SANDS CORPcall	$57,165,000	–	750,000	–	0.34%	–
	New	BARRICK GOLD CORPcall	$51,240,000	–	2,800,000	–	0.30%	–
GM	New	GENERAL MOTORS CO.	$36,856,000	–	1,015,305	–	0.22%	–
MSFT	New	MICROSOFT CORP	$31,187,000	–	747,889	–	0.18%	–
CHTR	New	CHARTER COMMUNICATION-A	$27,717,000	–	175,000	–	0.16%	–
	New	BLACKBERRY LTDcall	$25,600,000	–	2,500,000	–	0.15%	–
GLD	New	SPDR GOLD SHARES	$25,608,000	–	200,000	–	0.15%	–
SU	New	SUNCOR ENERGY INC	$23,447,000	–	550,000	–	0.14%	–
ORCL	New	ORACLE CORP	$22,483,000	–	554,710	–	0.13%	–
	New	ISHARES MSCI EMERGING MARKETput	$21,615,000	–	500,000	–	0.13%	–
	New	MANITOWOC CO INC.call	$21,359,000	–	650,000	–	0.13%	–
	New	WYNN RESORTS LTDcall	$20,756,000	–	100,000	–	0.12%	–
	New	AMERICAN INTERNATIONAL GROUPcall	$19,103,000	–	350,000	–	0.11%	–
WFC	New	WELLS FARGO & CO	$18,396,000	–	350,000	–	0.11%	–
ASH	New	ASHLAND INC	$17,942,000	–	165,000	–	0.11%	–
CSCO	New	CISCO SYSTEMS INC	$15,531,000	–	625,000	–	0.09%	–
WDC	New	WESTERN DIGITAL CORP	$15,691,000	–	170,000	–	0.09%	–
STZ	New	CONSTELLATION BRANDS INC-A	$14,982,000	–	170,000	–	0.09%	–
	New	MICROSOFT CORPput	$15,012,000	–	360,000	–	0.09%	–
	New	MCKESSON CORPput	$14,897,000	–	80,000	–	0.09%	–
BBBY	New	BED BATH & BEYOND INC	$13,771,000	–	240,000	–	0.08%	–
AER	New	AERCAP HOLDINGS NV	$13,740,000	–	300,000	–	0.08%	–
DAN	New	DANA HOLDING CORP	$13,431,000	–	550,000	–	0.08%	–
GOLD	New	BARRICK GOLD CORP	$13,257,000	–	724,436	–	0.08%	–
CF	New	CF INDUSTRIES HOLDINGS INC	$13,157,000	–	54,700	–	0.08%	–
	New	MICROSOFT CORPcall	$12,510,000	–	300,000	–	0.07%	–
HPQ	New	HEWLETT-PACKARD CO	$11,749,000	–	348,845	–	0.07%	–
AIG	New	AMERICAN INTERNATIONAL GROUP	$11,751,000	–	215,300	–	0.07%	–
	New	NATIONSTAR MORTGAGE HOLDINGScall	$10,890,000	–	300,000	–	0.06%	–
	New	UNITED PARCEL SERVICE-CL Bput	$10,266,000	–	100,000	–	0.06%	–
NEM	New	NEWMONT MINING CORP	$8,141,000	–	320,000	–	0.05%	–
ALSN	New	ALLISON TRANSMISSION HOLDING	$7,775,000	–	250,000	–	0.05%	–
POST	New	POST HOLDINGS INC	$7,637,000	–	150,000	–	0.04%	–
GIL	New	GILDAN ACTIVEWEAR INC	$7,356,000	–	125,000	–	0.04%	–
	New	UNITED TECHNOLOGIES CORPput	$6,927,000	–	60,000	–	0.04%	–
	New	DU PONT E.I. DE NEMOURSput	$6,544,000	–	100,000	–	0.04%	–
	New	ASHLAND INCput	$6,524,000	–	60,000	–	0.04%	–
	New	METLIFE INCput	$5,556,000	–	100,000	–	0.03%	–
CMCSA	New	COMCAST CORP-CLASS A	$5,368,000	–	100,000	–	0.03%	–
	New	AGNICO-EAGLE MINES LTDcall	$5,362,000	–	140,000	–	0.03%	–
	New	NEWMONT MINING CORPput	$5,088,000	–	200,000	–	0.03%	–
	New	BOEING CO.put	$5,089,000	–	40,000	–	0.03%	–
	New	NEWMONT MINING CORPcall	$5,088,000	–	200,000	–	0.03%	–
UPS	New	UNITED PARCEL SERVICE-CL B	$5,133,000	–	50,000	–	0.03%	–
	New	MONSANTO COput	$4,990,000	–	40,000	–	0.03%	–
	New	PHILLIPS 66put	$4,826,000	–	60,000	–	0.03%	–
	New	LOWE'S COS INCput	$4,799,000	–	100,000	–	0.03%	–
	New	HCA HOLDINGS INCput	$4,510,000	–	80,000	–	0.03%	–
PVG	New	PRETIUM RESOURCES INC	$4,588,000	–	554,342	–	0.03%	–
	New	CIENA CORPput	$4,332,000	–	200,000	–	0.03%	–
NG	New	NOVAGOLD RESOURCES INC	$4,467,000	–	1,060,997	–	0.03%	–
INFN	New	INFINERA CORP	$4,232,000	–	460,000	–	0.02%	–
MW	New	MEN'S WEARHOUSE INC/THE	$4,185,000	–	75,000	–	0.02%	–
SPLS	New	STAPLES INC	$4,079,000	–	376,305	–	0.02%	–
	New	AGNICO-EAGLE MINES LTDput	$3,830,000	–	100,000	–	0.02%	–
	New	BARRICK GOLD CORPput	$3,660,000	–	200,000	–	0.02%	–
SWC	New	STILLWATER MINING CO	$3,635,000	–	207,132	–	0.02%	–
	New	CHICO'S FAS INCcall	$3,392,000	–	200,000	–	0.02%	–
CIEN	New	CIENA CORP	$3,466,000	–	160,000	–	0.02%	–
SLW	New	SILVER WHEATON CORP	$3,325,000	–	126,332	–	0.02%	–
	New	MARKET VECTORS JR GOLD MINERput	$3,380,000	–	80,000	–	0.02%	–
	New	GOLDCORP INCput	$3,349,000	–	120,000	–	0.02%	–
	New	MARKET VECTORS JR GOLD MINERcall	$3,169,000	–	75,000	–	0.02%	–
	New	HERTZ GLOBAL HOLDINGS INCput	$2,803,000	–	100,000	–	0.02%	–
SCHW	New	SCHWAB CHARLES CORP	$2,962,000	–	110,000	–	0.02%	–
	New	BROADCOM CORP-CL Aput	$2,970,000	–	80,000	–	0.02%	–
	New	MARKET VECTORS GOLD MINERScall	$2,645,000	–	100,000	–	0.02%	–
	New	SCHWAB CHARLES CORPput	$2,693,000	–	100,000	–	0.02%	–
MAG	New	MAG SILVER CORP	$2,668,000	–	282,123	–	0.02%	–
AKG	New	ASANKO GOLD INC	$2,579,000	–	989,593	–	0.02%	–
KGC	New	KINROSS GOLD CORP	$2,495,000	–	602,760	–	0.02%	–
DD	New	DU PONT E.I. DE NEMOURS	$2,618,000	–	40,000	–	0.02%	–
	New	3D SYSTEMS CORPput	$2,392,000	–	40,000	–	0.01%	–
PMCS	New	PMC - SIERRA INC	$2,283,000	–	300,000	–	0.01%	–
GDXJ	New	MARKET VECTORS JR GOLD MINER	$2,113,000	–	50,000	–	0.01%	–
RBYCF	New	RUBICON MINERALS CORP	$2,076,000	–	1,401,817	–	0.01%	–
AMKR	New	AMKOR TECHNOLOGY INC	$1,789,000	–	160,000	–	0.01%	–
BACWSB	New	BANK OF AMERICA CORPwarrant	$1,921,000	–	125,000	–	0.01%	–
GG	New	GOLDCORP INC	$1,675,000	–	60,000	–	0.01%	–
GFI	New	GOLD FIELDS LTD-SPONS ADR	$1,500,000	–	403,104	–	0.01%	–
APC	New	ANADARKO PETROLEUM CORP	$1,488,000	–	13,591	–	0.01%	–
BRCM	New	BROADCOM CORP-CL A	$1,485,000	–	40,000	–	0.01%	–
	New	CLIFFS NATURAL RESOURCES INCput	$1,505,000	–	100,000	–	0.01%	–
PFE	New	PFIZER INC	$1,541,000	–	51,931	–	0.01%	–
GMWSB	New	GENERAL MOTORS CO.warrant	$1,481,000	–	40,800	–	0.01%	–
OXY	New	OCCIDENTAL PETROLEUM CORP	$1,345,000	–	13,107	–	0.01%	–
IAG	New	IAMGOLD CORP	$1,134,000	–	275,601	–	0.01%	–
TRV	New	TRAVELERS COS INC	$1,138,000	–	12,100	–	0.01%	–
IBM	New	INTL BUSINESS MACHINES CORP	$1,178,000	–	6,500	–	0.01%	–
HCA	New	HCA HOLDINGS INC	$1,128,000	–	20,000	–	0.01%	–
MON	New	MONSANTO CO	$1,247,000	–	10,000	–	0.01%	–
LNC	New	LINCOLN NATIONAL CORP	$1,003,000	–	19,500	–	0.01%	–
FDX	New	FEDEX CORP	$1,060,000	–	7,000	–	0.01%	–
AUQ	New	AURICO GOLD INC	$1,003,000	–	235,545	–	0.01%	–
	New	MARKET VECTORS GOLD MINERSput	$1,058,000	–	40,000	–	0.01%	–
C	New	CITIGROUP INC	$787,000	–	16,713	–	0.01%	–
VGZ	New	VISTA GOLD CORP	$879,000	–	1,758,748	–	0.01%	–
DAL	New	DELTA AIR LINES INC	$880,000	–	22,725	–	0.01%	–
	New	CAMECO CORPput	$784,000	–	40,000	–	0.01%	–
CCJ	New	CAMECO CORP	$784,000	–	40,000	–	0.01%	–
CLF	New	CLIFFS NATURAL RESOURCES INC	$677,000	–	44,960	–	0.00%	–
AET	New	AETNA INC	$746,000	–	9,200	–	0.00%	–
AAL	New	AMERICAN AIRLINES GROUP INC	$644,000	–	15,000	–	0.00%	–
CVA	New	COVANTA HOLDING CORP	$640,000	–	31,040	–	0.00%	–
DNRCQ	New	DENBURY RESOURCES INC	$600,000	–	32,500	–	0.00%	–
JPM	New	JPMORGAN CHASE & CO	$601,000	–	10,433	–	0.00%	–
JNJ	New	JOHNSON & JOHNSON	$604,000	–	5,772	–	0.00%	–
THOR	New	THORATEC CORP	$697,000	–	20,000	–	0.00%	–
WLL	New	WHITING PETROLEUM CORP	$602,000	–	7,500	–	0.00%	–
ESV	New	ENSCO PLC-CL A	$617,000	–	11,100	–	0.00%	–
CNO	New	CNO FINANCIAL GROUP INC	$509,000	–	28,600	–	0.00%	–
MET	New	METLIFE INC	$540,000	–	9,725	–	0.00%	–
V107SC	New	WELLPOINT INC	$473,000	–	4,400	–	0.00%	–
RGA	New	REINSURANCE GROUP OF AMERICA	$560,000	–	7,100	–	0.00%	–
DE	New	DEERE & CO	$552,000	–	6,100	–	0.00%	–
AUY	New	YAMANA GOLD INC	$490,000	–	59,600	–	0.00%	–
XRA	New	EXETER RESOURCE CORP	$452,000	–	642,545	–	0.00%	–
BP	New	BP PLC-SPONS ADR	$429,000	–	8,140	–	0.00%	–
VRTS	New	VIRTUS INVESTMENT PARTNERS	$484,000	–	2,287	–	0.00%	–
DVN	New	DEVON ENERGY CORPORATION	$476,000	–	6,000	–	0.00%	–
STT	New	STATE STREET CORP	$256,000	–	3,800	–	0.00%	–
CI	New	CIGNA CORP	$304,000	–	3,300	–	0.00%	–
SPNV	New	SUPERIOR ENERGY SERVICES INC	$398,000	–	11,000	–	0.00%	–
TRW	New	TRW AUTOMOTIVE HOLDINGS CORP	$269,000	–	3,000	–	0.00%	–
GRPU	New	GRANITE REAL ESTATE INVESTMENT	$301,000	–	8,096	–	0.00%	–
PNC	New	PNC FINANCIAL SERVICES GROUP	$284,000	–	3,189	–	0.00%	–
GTIV	New	GENTIVA HEALTH SERVICES	$341,000	–	22,617	–	0.00%	–
NWSA	New	NEWS CORP - CLASS A	$388,000	–	21,635	–	0.00%	–
MS	New	MORGAN STANLEY	$259,000	–	8,004	–	0.00%	–
VOYA	New	VOYA FINANCIAL INC	$306,000	–	8,425	–	0.00%	–
ORIG	New	OCEAN RIG UDW INC	$392,000	–	20,716	–	0.00%	–
AVT	New	AVNET INC	$361,000	–	8,150	–	0.00%	–
ETN	New	EATON CORP PLC	$380,000	–	4,928	–	0.00%	–
ABT	New	Abbott Laboratories	$263,000	–	6,425	–	0.00%	–
WPX	New	WPX ENERGY INC	$406,000	–	16,997	–	0.00%	–
APA	New	APACHE CORP	$380,000	–	3,780	–	0.00%	–
FCEA	New	FOREST CITY ENTERPRISES-CL A	$357,000	–	17,973	–	0.00%	–
RCII	New	RENT-A-CENTER INC	$332,000	–	11,589	–	0.00%	–
RDSA	New	ROYAL DUTCH SHELL PLC-ADR	$335,000	–	4,071	–	0.00%	–
LODE	New	COMSTOCK MINING INC	$305,000	–	182,625	–	0.00%	–
MCPIQ	New	MOLYCORP INC	$257,000	–	100,000	–	0.00%	–
IPG	New	INTERPUBLIC GROUP OF COS INC	$255,000	–	13,050	–	0.00%	–
LAMR	New	LAMAR ADVERTISING CO-A	$257,000	–	4,850	–	0.00%	–
ON	New	ON SEMICONDUCTOR CORPORATION	$406,000	–	44,375	–	0.00%	–
GS	New	GOLDMAN SACHS GROUP INC	$260,000	–	1,550	–	0.00%	–
NCT	New	NEWCASTLE INVESTMENT CORP	$261,000	–	54,435	–	0.00%	–
BAC	New	BANK OF AMERICA CORP	$216,000	–	14,068	–	0.00%	–
JIVE	New	JIVE SOFTWARE INC	$211,000	–	24,742	–	0.00%	–
INTC	New	INTEL CORP	$203,000	–	6,575	–	0.00%	–
IOSP	New	INNOSPEC INC	$203,000	–	4,700	–	0.00%	–
MDWCQ	New	MIDWAY GOLD CORP	$176,000	–	197,679	–	0.00%	–
HTZ	New	HERTZ GLOBAL HOLDINGS INC	$220,000	–	7,864	–	0.00%	–
MWW	New	MONSTER WORLDWIDE INC	$95,000	–	14,575	–	0.00%	–
MWA	New	MUELLER WATER PRODUCTS INC-A	$117,000	–	13,578	–	0.00%	–
NPBC	New	NATL PENN BCSHS INC	$115,000	–	10,850	–	0.00%	–
GCA	New	GLOBAL CASH ACCESS HOLDINGS	$115,000	–	12,954	–	0.00%	–
GMWSA	New	GENERAL MOTORS CO.warrant	$202,000	–	5,552	–	0.00%	–
NWS	New	NEWS CORP - CLASS B	$183,000	–	10,460	–	0.00%	–
NCQ	New	NOVACOPPER INC	$189,000	–	173,076	–	0.00%	–
FHN	New	FIRST HORIZON NATIONAL CORP	$145,000	–	12,200	–	0.00%	–
XOM	New	EXXON MOBIL CORP	$214,000	–	2,125	–	0.00%	–
PCG	New	P G & E CORP	$223,000	–	4,640	–	0.00%	–
EZPW	New	EZCORP INC-CL A	$164,000	–	14,238	–	0.00%	–
PPL	New	PPL CORPORATION	$235,000	–	6,605	–	0.00%	–
PAAS	New	PAN AMERICAN SILVER CORP	$207,000	–	13,486	–	0.00%	–
PSTB	New	PARK STERLING CORP	$130,000	–	19,715	–	0.00%	–
PH	New	PARKER HANNIFIN CORP	$204,000	–	1,625	–	0.00%	–
DRC	New	DRESSER-RAND GROUP INC	$240,000	–	3,765	–	0.00%	–
CMCSK	New	COMCAST CORP-SPECIAL CL A	$213,000	–	4,000	–	0.00%	–
KO	New	COCA-COLA CO/THE	$232,000	–	5,484	–	0.00%	–
CRS	New	CARPENTER TECHNOLOGY INC.	$224,000	–	3,536	–	0.00%	–
SIRI	New	SIRIUS XM HOLDINGS INC	$242,000	–	69,890	–	0.00%	–
CDVIQ	New	CAL DIVE INTERNATIONAL INC	$91,000	–	68,728	–	0.00%	–
1338PS	New	UBS AG-REG	$195,000	–	10,625	–	0.00%	–
BRCD	New	BROCADE COMMUNICATIONS SYS	$184,000	–	20,000	–	0.00%	–
BA	New	BOEING CO.	$229,000	–	1,800	–	0.00%	–
6107SC	New	URS CORP	$203,000	–	4,425	–	0.00%	–
BDX	New	BECTON DICKINSON AND CO	$207,000	–	1,750	–	0.00%	–
KBR	New	KBR INC	$217,000	–	9,100	–	0.00%	–
BHI	New	BAKER HUGHES INC	$208,000	–	2,800	–	0.00%	–
ARRS	New	ARRIS GROUP INC	$241,000	–	7,400	–	0.00%	–
PRE	New	PARTNERRE LTD	$202,000	–	1,850	–	0.00%	–
LM	New	LEGG MASON INC	$254,000	–	4,950	–	0.00%	–
MDT	New	MEDTRONIC INC	$239,000	–	3,750	–	0.00%	–
WTSLQ	New	WET SEAL CL A	$14,000	–	15,290	–	0.00%	–
WLTGQ	New	WALTER ENERGY INC	$69,000	–	12,570	–	0.00%	–
ARC	New	ARC DOCUMENT SOLUTIONS INC	$68,000	–	11,631	–	0.00%	–

Q4 2013

			Value		Shares		↓ Weighting
SNV	Exit	SYNOVUS FINANCIAL CORP	$0	–	-22,200	–	0.00%	–
WTSLQ	Exit	WET SEAL CL A	$0	–	-15,290	–	0.00%	–
MWW	Exit	MONSTER WORLDWIDE INC	$0	–	-14,575	–	0.00%	–
ARC	Exit	ARC DOCUMENT SOLUTIONS INC	$0	–	-10,875	–	0.00%	–
PSTB	Exit	PARK STERLING CORP	$0	–	-20,415	–	-0.00%	–
CDVIQ	Exit	CAL DIVE INTERNATIONAL INC	$0	–	-65,428	–	-0.00%	–
GCA	Exit	GLOBAL CASH ACCESS HOLDINGS	$0	–	-30,744	–	-0.00%	–
BK	Exit	BANK OF NEW YORK MELLON CORP	$0	–	-6,833	–	-0.00%	–
WLTGQ	Exit	WALTER ENERGY INC	$0	–	-14,735	–	-0.00%	–
HPT	Exit	HOSPITALITY PROPERTIES TRUST	$0	–	-8,500	–	-0.00%	–
VCI	Exit	VALASSIS COMMUNICATIONS INC	$0	–	-8,475	–	-0.00%	–
IOSP	Exit	INNOSPEC INC	$0	–	-4,400	–	-0.00%	–
MDWCQ	Exit	MIDWAY GOLD CORP	$0	–	-197,679	–	-0.00%	–
HSC	Exit	HARSCO CORP	$0	–	-8,975	–	-0.00%	–
3106PS	Exit	DELPHI AUTOMOTIVE PLC	$0	–	-3,450	–	-0.00%	–
1338PS	Exit	UBS AG-REG	$0	–	-12,425	–	-0.00%	–
HHS	Exit	HARTE-HANKS INC	$0	–	-13,389	–	-0.00%	–
OC	Exit	OWENS CORNING	$0	–	-5,550	–	-0.00%	–
HMA	Exit	HEALTH MGMT ASSOCIATES INC-A	$0	–	-15,015	–	-0.00%	–
GRPU	Exit	GRANITE REAL ESTATE INVESTME	$0	–	-6,800	–	-0.00%	–
CRAY	Exit	CRAY INC	$0	–	-10,284	–	-0.00%	–
VOYA	Exit	ING US INC	$0	–	-8,300	–	-0.00%	–
NWS	Exit	NEWS CORP - CLASS B	$0	–	-10,435	–	-0.00%	–
MWA	Exit	MUELLER WATER PRODUCTS INC-A	$0	–	-17,753	–	-0.00%	–
6107SC	Exit	URS CORP	$0	–	-3,950	–	-0.00%	–
OMC	Exit	OMNICOM GROUP	$0	–	-3,775	–	-0.00%	–
LODE	Exit	COMSTOCK MINING INC	$0	–	-146,151	–	-0.00%	–
IVZ	Exit	INVESCO LTD	$0	–	-7,300	–	-0.00%	–
NWSA	Exit	NEWS CORP - CLASS A	$0	–	-14,520	–	-0.00%	–
PNC	Exit	PNC FINANCIAL SERVICES GROUP	$0	–	-3,189	–	-0.00%	–
UEC	Exit	URANIUM ENERGY CORP	$0	–	-71,967	–	-0.00%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-1,500	–	-0.00%	–
EZPW	Exit	EZCORP INC-CL A	$0	–	-10,473	–	-0.00%	–
PH	Exit	PARKER HANNIFIN CORP	$0	–	-1,875	–	-0.00%	–
LLL	Exit	L-3 COMMUNICATIONS HOLDINGS	$0	–	-2,571	–	-0.00%	–
V107SC	Exit	WELLPOINT INC	$0	–	-4,400	–	-0.00%	–
LSE	Exit	CAPLEASE INC	$0	–	-33,498	–	-0.00%	–
VRTS	Exit	VIRTUS INVESTMENT PARTNERS	$0	–	-2,487	–	-0.00%	–
MRK	Exit	MERCK & CO. INC.	$0	–	-6,982	–	-0.00%	–
IPG	Exit	INTERPUBLIC GROUP OF COS INC	$0	–	-19,650	–	-0.00%	–
RCII	Exit	RENT-A-CENTER INC	$0	–	-9,164	–	-0.00%	–
BHI	Exit	BAKER HUGHES INC	$0	–	-5,675	–	-0.00%	–
ETN	Exit	EATON CORP PLC	$0	–	-5,658	–	-0.00%	–
BP	Exit	BP PLC-SPONS ADR	$0	–	-8,540	–	-0.00%	–
APA	Exit	APACHE CORP	$0	–	-3,780	–	-0.00%	–
LM	Exit	LEGG MASON INC	$0	–	-8,500	–	-0.00%	–
AVT	Exit	AVNET INC	$0	–	-9,725	–	-0.00%	–
SPNV	Exit	SUPERIOR ENERGY SERVICES INC	$0	–	-13,650	–	-0.00%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-15,631	–	-0.00%	–
CRS	Exit	CARPENTER TECHNOLOGY INC.	$0	–	-7,036	–	-0.00%	–
RDSA	Exit	ROYAL DUTCH SHELL PLC-ADR	$0	–	-4,242	–	-0.00%	–
NCQ	Exit	NOVACOPPER INC	$0	–	-173,076	–	-0.00%	–
AIZ	Exit	ASSURANT INC	$0	–	-5,250	–	-0.00%	–
BA	Exit	BOEING CO.	$0	–	-2,800	–	-0.00%	–
MET	Exit	METLIFE INC	$0	–	-11,400	–	-0.00%	–
CMCSK	Exit	COMCAST CORP-SPECIAL CL A	$0	–	-13,000	–	-0.00%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-6,432	–	-0.00%	–
PAAS	Exit	PAN AMERICAN SILVER CORP	$0	–	-42,176	–	-0.00%	–
WLL	Exit	WHITING PETROLEUM CORP	$0	–	-7,500	–	-0.00%	–
CNO	Exit	CNO FINANCIAL GROUP INC	$0	–	-31,100	–	-0.00%	–
RGA	Exit	REINSURANCE GROUP OF AMERICA	$0	–	-7,500	–	-0.00%	–
DE	Exit	DEERE & CO	$0	–	-6,100	–	-0.00%	–
C	Exit	CITIGROUP INC	$0	–	-11,713	–	-0.00%	–
WPX	Exit	WPX ENERGY INC	$0	–	-30,280	–	-0.00%	–
XRA	Exit	EXETER RESOURCE CORP	$0	–	-642,545	–	-0.00%	–
ESV	Exit	ENSCO PLC-CL A	$0	–	-11,100	–	-0.00%	–
DVN	Exit	DEVON ENERGY CORPORATION	$0	–	-9,215	–	-0.00%	–
AMKR	Exit	AMKOR TECHNOLOGY INC	$0	–	-160,000	–	-0.00%	–
HL	Exit	HECLA MINING CO	$0	–	-248,094	–	-0.00%	–
CCJ	Exit	CAMECO CORP	$0	–	-40,000	–	-0.00%	–
DAL	Exit	DELTA AIR LINES INC	$0	–	-29,025	–	-0.00%	–
	Exit	MOLYCORP INCput	$0	–	-100,000	–	-0.00%	–
VGZ	Exit	VISTA GOLD CORP	$0	–	-1,758,748	–	-0.01%	–
XRX	Exit	XEROX CORP	$0	–	-86,000	–	-0.01%	–
PPL	Exit	PPL CORPORATION	$0	–	-30,000	–	-0.01%	–
THOR	Exit	THORATEC CORP	$0	–	-22,000	–	-0.01%	–
LOW	Exit	LOWE'S COS INC	$0	–	-20,000	–	-0.01%	–
LNC	Exit	LINCOLN NATIONAL CORP	$0	–	-19,500	–	-0.01%	–
TRV	Exit	TRAVELERS COS INC	$0	–	-12,100	–	-0.01%	–
	Exit	MARKET VECTORS GOLD MINERSput	$0	–	-40,000	–	-0.01%	–
FDX	Exit	FEDEX CORP	$0	–	-8,800	–	-0.01%	–
PFE	Exit	PFIZER INC	$0	–	-44,406	–	-0.01%	–
	Exit	SCHWAB CHARLES CORPput	$0	–	-60,000	–	-0.01%	–
MAG	Exit	MAG SILVER CORP	$0	–	-210,888	–	-0.01%	–
APC	Exit	ANADARKO PETROLEUM CORP	$0	–	-13,330	–	-0.01%	–
OXY	Exit	OCCIDENTAL PETROLEUM CORP	$0	–	-13,855	–	-0.01%	–
GMWSB	Exit	GENERAL MOTORS CO.warrant	$0	–	-40,800	–	-0.01%	–
AUQ	Exit	AURICO GOLD INC	$0	–	-370,048	–	-0.01%	–
IBM	Exit	INTL BUSINESS MACHINES CORP	$0	–	-7,509	–	-0.01%	–
	Exit	CAMECO CORPput	$0	–	-80,000	–	-0.01%	–
	Exit	GOLDCORP INCput	$0	–	-60,000	–	-0.01%	–
CDE	Exit	COEUR MINING INC	$0	–	-135,150	–	-0.01%	–
SAND	Exit	SANDSTORM GOLD LTD	$0	–	-288,626	–	-0.01%	–
GG	Exit	GOLDCORP INC	$0	–	-60,000	–	-0.01%	–
BACWSB	Exit	BANK OF AMERICA CORPwarrant	$0	–	-125,000	–	-0.01%	–
RBYCF	Exit	RUBICON MINERALS CORP	$0	–	-1,401,817	–	-0.01%	–
	Exit	MARKET VECTORS JR GOLD MINERcall	$0	–	-50,000	–	-0.01%	–
	Exit	MARTIN MARIETTA MATERIALSput	$0	–	-20,000	–	-0.01%	–
ZOLT	Exit	ZOLTEK COMPANIES INC	$0	–	-120,000	–	-0.01%	–
MLM	Exit	MARTIN MARIETTA MATERIALS	$0	–	-20,000	–	-0.01%	–
PMCS	Exit	PMC - SIERRA INC	$0	–	-300,000	–	-0.01%	–
	Exit	CLIFFS NATURAL RESOURCES INCput	$0	–	-100,000	–	-0.01%	–
	Exit	HERTZ GLOBAL HOLDINGS INCput	$0	–	-100,000	–	-0.01%	–
	Exit	BROADCOM CORP-CL Aput	$0	–	-80,000	–	-0.01%	–
SWC	Exit	STILLWATER MINING CO	$0	–	-207,132	–	-0.01%	–
DD	Exit	DU PONT E.I. DE NEMOURS	$0	–	-40,000	–	-0.01%	–
PVG	Exit	PRETIUM RESOURCES INC	$0	–	-358,942	–	-0.01%	–
NG	Exit	NOVAGOLD RESOURCES INC	$0	–	-1,042,904	–	-0.01%	–
SCHW	Exit	SCHWAB CHARLES CORP	$0	–	-120,000	–	-0.01%	–
IAG	Exit	IAMGOLD CORP	$0	–	-555,138	–	-0.02%	–
	Exit	AGNICO-EAGLE MINES LTDput	$0	–	-100,000	–	-0.02%	–
BRCD	Exit	BROCADE COMMUNICATIONS SYS	$0	–	-360,000	–	-0.02%	–
	Exit	CORNING INCput	$0	–	-200,000	–	-0.02%	–
	Exit	CASH AMERICA INTL INCput	$0	–	-65,000	–	-0.02%	–
	Exit	WESTERN DIGITAL CORPcall	$0	–	-50,000	–	-0.02%	–
	Exit	MARKET VECTORS JR GOLD MINERput	$0	–	-80,000	–	-0.02%	–
BTG	Exit	B2GOLD CORP	$0	–	-1,258,105	–	-0.02%	–
GDXJ	Exit	MARKET VECTORS JR GOLD MINER	$0	–	-88,250	–	-0.02%	–
	Exit	PHILLIPS 66put	$0	–	-60,000	–	-0.02%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-75,000	–	-0.02%	–
	Exit	BARRICK GOLD CORPcall	$0	–	-200,000	–	-0.02%	–
	Exit	AGNICO-EAGLE MINES LTDcall	$0	–	-140,000	–	-0.02%	–
CIEN	Exit	CIENA CORP	$0	–	-160,000	–	-0.02%	–
CBS	Exit	CBS CORP-CLASS B NON VOTING	$0	–	-75,000	–	-0.02%	–
GLOG	Exit	GASLOG LTD	$0	–	-270,800	–	-0.02%	–
VIAB	Exit	VIACOM INC-CLASS B	$0	–	-50,000	–	-0.02%	–
KGC	Exit	KINROSS GOLD CORP	$0	–	-866,010	–	-0.02%	–
	Exit	NEWMONT MINING CORPput	$0	–	-160,000	–	-0.02%	–
	Exit	INTL BUSINESS MACHINES CORPcall	$0	–	-25,000	–	-0.03%	–
	Exit	BOEING CO.put	$0	–	-40,000	–	-0.03%	–
	Exit	METLIFE INCput	$0	–	-100,000	–	-0.03%	–
	Exit	LOWE'S COS INCput	$0	–	-100,000	–	-0.03%	–
	Exit	CIENA CORPput	$0	–	-200,000	–	-0.03%	–
INFN	Exit	INFINERA CORP	$0	–	-460,000	–	-0.03%	–
	Exit	CARDINAL HEALTH INCput	$0	–	-100,000	–	-0.03%	–
	Exit	CUMMINS INCput	$0	–	-40,000	–	-0.03%	–
UPS	Exit	UNITED PARCEL SERVICE-CL B	$0	–	-60,000	–	-0.03%	–
	Exit	BARRICK GOLD CORPput	$0	–	-300,000	–	-0.03%	–
	Exit	NEWMONT MINING CORPcall	$0	–	-200,000	–	-0.03%	–
	Exit	CITIGROUP INCput	$0	–	-120,000	–	-0.03%	–
	Exit	CF INDUSTRIES HOLDINGS INCput	$0	–	-30,000	–	-0.04%	–
	Exit	UNITED TECHNOLOGIES CORPput	$0	–	-60,000	–	-0.04%	–
SPLS	Exit	STAPLES INC	$0	–	-444,605	–	-0.04%	–
DG	Exit	DOLLAR GENERAL CORP	$0	–	-125,000	–	-0.04%	–
NEM	Exit	NEWMONT MINING CORP	$0	–	-263,315	–	-0.04%	–
JOSB	Exit	JOS A BANK CLOTHIERS INC	$0	–	-175,000	–	-0.04%	–
NSM	Exit	NATIONSTAR MORTGAGE HOLDINGS	$0	–	-150,000	–	-0.05%	–
	Exit	HEWLETT-PACKARD COput	$0	–	-400,000	–	-0.05%	–
JCPNQ	Exit	J.C. PENNEY CO INC	$0	–	-1,000,000	–	-0.05%	–
	Exit	UNITED PARCEL SERVICE-CL Bput	$0	–	-100,000	–	-0.05%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-160,000	–	-0.06%	–
	Exit	MCKESSON CORPput	$0	–	-80,000	–	-0.06%	–
CSCO	Exit	CISCO SYSTEMS INC	$0	–	-500,000	–	-0.07%	–
	Exit	DU PONT E.I. DE NEMOURSput	$0	–	-200,000	–	-0.07%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-140,000	–	-0.07%	–
MDT	Exit	MEDTRONIC INC	$0	–	-242,105	–	-0.07%	–
	Exit	MICROSOFT CORPput	$0	–	-390,000	–	-0.07%	–
DNRCQ	Exit	DENBURY RESOURCES INC	$0	–	-742,500	–	-0.08%	–
WFC	Exit	WELLS FARGO & CO	$0	–	-350,000	–	-0.08%	–
TWC	Exit	TIME WARNER CABLE	$0	–	-130,000	–	-0.08%	–
NDAQ	Exit	NASDAQ OMX GROUP	$0	–	-500,000	–	-0.09%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-310,433	–	-0.09%	–
NOV	Exit	NATIONAL OILWELL VARCO INC	$0	–	-209,998	–	-0.09%	–
	Exit	CATERPILLAR INCcall	$0	–	-200,000	–	-0.09%	–
COF	Exit	CAPITAL ONE FINANCIAL CORP	$0	–	-245,000	–	-0.10%	–
AIG	Exit	AMERICAN INTERNATIONAL GROUP	$0	–	-346,400	–	-0.10%	–
HPQ	Exit	HEWLETT-PACKARD CO	$0	–	-824,495	–	-0.10%	–
AER	Exit	AERCAP HOLDINGS NV	$0	–	-902,600	–	-0.10%	–
CF	Exit	CF INDUSTRIES HOLDINGS INC	$0	–	-89,700	–	-0.11%	–
	Exit	MANITOWOC CO INC.call	$0	–	-1,000,000	–	-0.11%	–
ORCL	Exit	ORACLE CORP	$0	–	-595,600	–	-0.11%	–
CHTR	Exit	CHARTER COMMUNICATION-A	$0	–	-150,000	–	-0.11%	–
SU	Exit	SUNCOR ENERGY INC	$0	–	-570,000	–	-0.12%	–
BAC	Exit	BANK OF AMERICA CORP	$0	–	-1,512,443	–	-0.12%	–
	Exit	MACY'S INCcall	$0	–	-500,000	–	-0.12%	–
	Exit	APPLE INCcall	$0	–	-50,000	–	-0.13%	–
STZ	Exit	CONSTELLATION BRANDS INC-A	$0	–	-456,800	–	-0.15%	–
GM	Exit	GENERAL MOTORS CO.	$0	–	-825,000	–	-0.17%	–
	Exit	JPMORGAN CHASE & COcall	$0	–	-750,000	–	-0.22%	–
	Exit	WISDOMTREE JAPAN HEDGED EQcall	$0	–	-1,000,000	–	-0.27%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-1,568,272	–	-0.29%	–
	Exit	GENERAL MOTORS CO.call	$0	–	-1,650,000	–	-0.33%	–
	Exit	MICROSOFT CORPcall	$0	–	-2,250,000	–	-0.42%	–
BWP	Exit	BWP COMMON UNITS	$0	–	-102,719,466	–	-17.54%	–
DOFSQ	Exit	DIAMOND OFFSHORE DRILLING	$0	–	-70,104,620	–	-24.57%	–
CNA	Exit	CNA FINANCIAL CORP	$0	–	-242,382,673	–	-52.04%	–

Q3 2013

			Value		Shares		↓ Weighting
	Buy	MICROSOFT CORPcall	$74,880,000	+733.7%	2,250,000	+765.4%	0.42%	+679.6%
	New	GENERAL MOTORS CO.call	$59,351,000	–	1,650,000	–	0.33%	–
MSFT	Buy	MICROSOFT CORP	$52,192,000	+99.2%	1,568,272	+106.8%	0.29%	+87.3%
	Buy	WISDOMTREE JAPAN HEDGED EQcall	$47,930,000	+200.2%	1,000,000	+185.7%	0.27%	+184.2%
	Sell	JPMORGAN CHASE & COcall	$38,768,000	-51.0%	750,000	-50.0%	0.22%	-53.9%
GM	Sell	GENERAL MOTORS CO.	$29,676,000	-6.2%	825,000	-13.2%	0.17%	-11.6%
STZ	Buy	CONSTELLATION BRANDS INC-A	$26,220,000	+16.5%	456,800	+5.8%	0.15%	+8.9%
	New	APPLE INCcall	$23,838,000	–	50,000	–	0.13%	–
	New	MACY'S INCcall	$21,635,000	–	500,000	–	0.12%	–
BAC	Buy	BANK OF AMERICA CORP	$20,872,000	+77.9%	1,512,443	+65.8%	0.12%	+67.1%
SU	Sell	SUNCOR ENERGY INC	$20,395,000	+19.2%	570,000	-1.7%	0.12%	+12.7%
ORCL	Buy	ORACLE CORP	$19,756,000	+9.2%	595,600	+1.1%	0.11%	+2.8%
CF	Sell	CF INDUSTRIES HOLDINGS INC	$18,911,000	+14.0%	89,700	-7.2%	0.11%	+7.1%
AER	New	AERCAP HOLDINGS NV	$17,565,000	–	902,600	–	0.10%	–
HPQ	Buy	HEWLETT-PACKARD CO	$17,306,000	+113.1%	824,495	+151.8%	0.10%	+98.0%
AIG	Sell	AMERICAN INTERNATIONAL GROUP	$16,845,000	+0.1%	346,400	-8.0%	0.10%	-5.9%
COF	Sell	CAPITAL ONE FINANCIAL CORP	$16,841,000	-10.6%	245,000	-18.3%	0.10%	-15.9%
	Sell	CATERPILLAR INCcall	$16,680,000	-49.4%	200,000	-50.0%	0.09%	-52.3%
NOV	Sell	NATIONAL OILWELL VARCO INC	$16,403,000	+8.2%	209,998	-4.5%	0.09%	+1.1%
JPM	Sell	JPMORGAN CHASE & CO	$16,046,000	-21.2%	310,433	-19.6%	0.09%	-26.2%
NDAQ	Sell	NASDAQ OMX GROUP	$16,055,000	-24.7%	500,000	-23.1%	0.09%	-29.1%
TWC	Buy	TIME WARNER CABLE	$14,508,000	+3.2%	130,000	+4.0%	0.08%	-2.4%
WFC	Sell	WELLS FARGO & CO	$14,462,000	-12.4%	350,000	-12.5%	0.08%	-18.2%
DNRCQ	Buy	DENBURY RESOURCES INC	$13,669,000	+39.7%	742,500	+31.4%	0.08%	+32.8%
	Buy	MICROSOFT CORPput	$12,979,000	+7.3%	390,000	+11.4%	0.07%	+1.4%
MDT	Sell	MEDTRONIC INC	$12,892,000	-7.0%	242,105	-10.1%	0.07%	-13.3%
SLB	Sell	SCHLUMBERGER LTD	$12,370,000	+4.6%	140,000	-15.2%	0.07%	-1.4%
	Buy	DU PONT E.I. DE NEMOURSput	$11,712,000	+123.1%	200,000	+100.0%	0.07%	+112.9%
	Buy	MCKESSON CORPput	$10,264,000	+49.4%	80,000	+33.3%	0.06%	+41.5%
JCPNQ	New	J.C. PENNEY CO INC	$8,805,000	–	1,000,000	–	0.05%	–
	New	HEWLETT-PACKARD COput	$8,396,000	–	400,000	–	0.05%	–
JOSB	New	JOS A BANK CLOTHIERS INC	$7,683,000	–	175,000	–	0.04%	–
NEM	Buy	NEWMONT MINING CORP	$7,399,000	-5.0%	263,315	+1.3%	0.04%	-10.6%
DG	New	DOLLAR GENERAL CORP	$7,058,000	–	125,000	–	0.04%	–
SPLS	Buy	STAPLES INC	$6,513,000	+6.5%	444,605	+15.4%	0.04%	0.0%
	Buy	CF INDUSTRIES HOLDINGS INCput	$6,325,000	+84.4%	30,000	+50.0%	0.04%	+71.4%
	Sell	BARRICK GOLD CORPput	$5,586,000	+14.4%	300,000	-3.3%	0.03%	+6.9%
	New	INTL BUSINESS MACHINES CORPcall	$4,630,000	–	25,000	–	0.03%	–
	New	METLIFE INCput	$4,695,000	–	100,000	–	0.03%	–
KGC	Sell	KINROSS GOLD CORP	$4,373,000	-8.5%	866,010	-7.6%	0.02%	-13.8%
VIAB	Buy	VIACOM INC-CLASS B	$4,179,000	+145.7%	50,000	+100.0%	0.02%	+140.0%
GLOG	Sell	GASLOG LTD	$4,043,000	-39.5%	270,800	-48.2%	0.02%	-42.5%
	New	AGNICO-EAGLE MINES LTDcall	$3,706,000	–	140,000	–	0.02%	–
GDXJ	New	MARKET VECTORS JR GOLD MINER	$3,595,000	–	88,250	–	0.02%	–
VZ	New	VERIZON COMMUNICATIONS INC	$3,501,000	–	75,000	–	0.02%	–
	New	PHILLIPS 66put	$3,469,000	–	60,000	–	0.02%	–
	Sell	WESTERN DIGITAL CORPcall	$3,170,000	-46.3%	50,000	-47.4%	0.02%	-48.6%
	New	MARKET VECTORS JR GOLD MINERput	$3,259,000	–	80,000	–	0.02%	–
BRCD	Sell	BROCADE COMMUNICATIONS SYS	$2,898,000	+32.4%	360,000	-5.3%	0.02%	+23.1%
	New	AGNICO-EAGLE MINES LTDput	$2,647,000	–	100,000	–	0.02%	–
NG	Buy	NOVAGOLD RESOURCES INC	$2,420,000	+10.5%	1,042,904	+0.4%	0.01%	+7.7%
SWC	Sell	STILLWATER MINING CO	$2,281,000	-57.5%	207,132	-58.6%	0.01%	-59.4%
	New	BROADCOM CORP-CL Aput	$2,082,000	–	80,000	–	0.01%	–
	Sell	MARTIN MARIETTA MATERIALSput	$1,963,000	-33.5%	20,000	-33.3%	0.01%	-38.9%
	New	MARKET VECTORS JR GOLD MINERcall	$2,037,000	–	50,000	–	0.01%	–
MLM	Sell	MARTIN MARIETTA MATERIALS	$1,963,000	-33.5%	20,000	-33.3%	0.01%	-38.9%
CDE	Sell	COEUR MINING INC	$1,629,000	-11.6%	135,150	-2.4%	0.01%	-18.2%
IBM	Sell	INTL BUSINESS MACHINES CORP	$1,391,000	-11.7%	7,509	-9.0%	0.01%	-11.1%
PFE	Sell	PFIZER INC	$1,275,000	-89.9%	44,406	-90.1%	0.01%	-90.7%
APC	Sell	ANADARKO PETROLEUM CORP	$1,240,000	-1.4%	13,330	-8.9%	0.01%	-12.5%
OXY	Sell	OCCIDENTAL PETROLEUM CORP	$1,296,000	+4.3%	13,855	-0.5%	0.01%	0.0%
TRV	Sell	TRAVELERS COS INC	$1,026,000	-1.3%	12,100	-6.9%	0.01%	0.0%
FDX	Sell	FEDEX CORP	$1,004,000	+8.3%	8,800	-6.4%	0.01%	0.0%
XRX	Sell	XEROX CORP	$885,000	-6.2%	86,000	-17.3%	0.01%	-16.7%
LNC	Sell	LINCOLN NATIONAL CORP	$819,000	+6.9%	19,500	-7.1%	0.01%	0.0%
DAL	Buy	DELTA AIR LINES INC	$685,000	+44.5%	29,025	+14.5%	0.00%	+33.3%
CCJ	Buy	CAMECO CORP	$723,000	+249.3%	40,000	+300.0%	0.00%	+300.0%
AMKR	Buy	AMKOR TECHNOLOGY INC	$685,000	+170.8%	160,000	+166.7%	0.00%	+100.0%
RGA	Sell	REINSURANCE GROUP OF AMERICA	$502,000	-9.2%	7,500	-6.2%	0.00%	0.0%
CNO	Sell	CNO FINANCIAL GROUP INC	$448,000	+4.4%	31,100	-6.0%	0.00%	0.0%
MET	Sell	METLIFE INC	$535,000	-22.0%	11,400	-24.0%	0.00%	-25.0%
WLL	Sell	WHITING PETROLEUM CORP	$449,000	+21.7%	7,500	-6.2%	0.00%	+50.0%
DVN	Sell	DEVON ENERGY CORPORATION	$532,000	+5.6%	9,215	-5.1%	0.00%	0.0%
DE	Sell	DEERE & CO	$496,000	-6.1%	6,100	-6.2%	0.00%	0.0%
ESV	New	ENSCO PLC-CL A	$597,000	–	11,100	–	0.00%	–
CMCSK	Sell	COMCAST CORP-SPECIAL CL A	$564,000	+1.6%	13,000	-7.1%	0.00%	0.0%
C	Sell	CITIGROUP INC	$568,000	-7.3%	11,713	-8.4%	0.00%	-25.0%
RDSA	Buy	ROYAL DUTCH SHELL PLC-ADR	$279,000	+4.5%	4,242	+1.4%	0.00%	0.0%
APA	Sell	APACHE CORP	$322,000	-5.8%	3,780	-7.4%	0.00%	0.0%
AVT	Buy	AVNET INC	$406,000	+24.5%	9,725	+0.3%	0.00%	0.0%
GOLD	Sell	BARRICK GOLD CORP	$291,000	-84.0%	15,631	-86.5%	0.00%	-81.8%
BA	Sell	BOEING CO.	$329,000	+7.2%	2,800	-6.7%	0.00%	0.0%
CRS	Sell	CARPENTER TECHNOLOGY INC.	$409,000	+25.5%	7,036	-2.8%	0.00%	0.0%
LM	New	LEGG MASON INC	$284,000	–	8,500	–	0.00%	–
RCII	Buy	RENT-A-CENTER INC	$349,000	+4.5%	9,164	+3.1%	0.00%	0.0%
SPNV	New	SUPERIOR ENERGY SERVICES INC	$342,000	–	13,650	–	0.00%	–
VRTS	Buy	VIRTUS INVESTMENT PARTNERS	$404,000	+44.3%	2,487	+56.7%	0.00%	0.0%
V107SC	Sell	WELLPOINT INC	$368,000	-4.4%	4,400	-6.4%	0.00%	0.0%
ETN	New	EATON CORP PLC	$389,000	–	5,658	–	0.00%	–
LODE	Buy	COMSTOCK MINING INC	$263,000	+43.7%	146,151	+31.6%	0.00%	0.0%
CDVIQ	Buy	CAL DIVE INTERNATIONAL INC	$134,000	+31.4%	65,428	+21.1%	0.00%	0.0%
BK	New	BANK OF NEW YORK MELLON CORP	$206,000	–	6,833	–	0.00%	–
NWSA	New	NEWS CORP - CLASS A	$233,000	–	14,520	–	0.00%	–
PH	New	PARKER HANNIFIN CORP	$204,000	–	1,875	–	0.00%	–
PNC	Sell	PNC FINANCIAL SERVICES GROUP	$231,000	-97.4%	3,189	-97.4%	0.00%	-98.1%
MWA	Sell	MUELLER WATER PRODUCTS INC-A	$142,000	-25.7%	17,753	-35.7%	0.00%	0.0%
IOSP	New	INNOSPEC INC	$205,000	–	4,400	–	0.00%	–
NWS	New	NEWS CORP - CLASS B	$171,000	–	10,435	–	0.00%	–
HMA	New	HEALTH MGMT ASSOCIATES INC-A	$192,000	–	15,015	–	0.00%	–
HHS	Sell	HARTE-HANKS INC	$118,000	-9.2%	13,389	-11.1%	0.00%	0.0%
GCA	Sell	GLOBAL CASH ACCESS HOLDINGS	$240,000	+1.3%	30,744	-18.8%	0.00%	0.0%
3106PS	Sell	DELPHI AUTOMOTIVE PLC	$202,000	-25.5%	3,450	-35.5%	0.00%	-50.0%
6107SC	New	URS CORP	$212,000	–	3,950	–	0.00%	–
SNV	Buy	SYNOVUS FINANCIAL CORP	$73,000	+37.7%	22,200	+21.8%	0.00%	–
KBXRF	Exit	KIMBER RESOURCES INC	$0	–	-641,515	–	0.00%	–
WTSLQ	Buy	WET SEAL CL A	$60,000	-6.2%	15,290	+13.3%	0.00%	–
ARC	Buy	ARC DOCUMENT SOLUTIONS INC	$50,000	+16.3%	10,875	+0.5%	0.00%	–
DELL	Exit	DELL INC	$0	–	-13,375	–	-0.00%	–
TEVA	Exit	TEVA PHARMACEUTICAL-SP ADR	$0	–	-5,755	–	-0.00%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-5,050	–	-0.00%	–
	Exit	WALTER ENERGY INCput	$0	–	-11,900	–	-0.00%	–
S	Exit	SPRINT COMMUNICATIONS INC	$0	–	-13,271	–	-0.00%	–
MS	Exit	MORGAN STANLEY	$0	–	-8,204	–	-0.00%	–
CLF	Exit	CLIFFS NATURAL RESOURCES INC	$0	–	-10,000	–	-0.00%	–
GPRE	Exit	GREEN PLAINS RENEWABLE ENERGY	$0	–	-24,500	–	-0.00%	–
PCG	Exit	P G & E CORP	$0	–	-12,553	–	-0.00%	–
CAH	Exit	CARDINAL HEALTH INC	$0	–	-20,000	–	-0.01%	–
	Exit	MARKET VECTORS JR GOLD MINERcall	$0	–	-200,000	–	-0.01%	–
GDXJ	Exit	MARKET VECTORS JR GOLD MINER	$0	–	-295,700	–	-0.02%	–
	Exit	MARKET VECTORS JR GOLD MINERput	$0	–	-320,000	–	-0.02%	–
MTW	Exit	MANITOWOC CO INC.	$0	–	-175,000	–	-0.02%	–
	Exit	TESLA MOTORS INC 1.5% 2018/06/01corp	$0	–	-3,000,000	–	-0.02%	–
TSLA	Exit	TESLA MOTORS INC	$0	–	-35,000	–	-0.02%	–
ZTS	Exit	ZOETIS INC	$0	–	-126,568	–	-0.02%	–
AAPL	Exit	APPLE INC	$0	–	-12,750	–	-0.03%	–
CMI	Exit	CUMMINS INC	$0	–	-50,000	–	-0.03%	–
	Exit	WHIRLPOOL CORPput	$0	–	-60,000	–	-0.04%	–
GSK	Exit	GLAXO SMITH KLINE PLC-SPON ADR	$0	–	-310,000	–	-0.09%	–
HD	Exit	HOME DEPOT INC	$0	–	-250,000	–	-0.12%	–
DXJ	Exit	WISDOMTREE JAPAN HEDGED EQ	$0	–	-450,000	–	-0.12%	–
	Exit	ISHARES MSCI EMERGING MARKETcall	$0	–	-1,000,000	–	-0.23%	–

Q2 2013

			Value		Shares		↓ Weighting
CNA	New	CNA FINANCIAL CORP	$7,906,523,000	–	242,382,673	–	47.26%	–
DOFSQ	New	DIAMOND OFFSHORE DRILLING	$4,822,497,000	–	70,104,620	–	28.83%	–
BWP	New	BOARDWALK PIPELINE COMMON UNITS	$3,102,128,000	–	102,719,466	–	18.54%	–
	New	JPMORGAN CHASE & COcall	$79,185,000	–	1,500,000	–	0.47%	–
	New	ISHARES MSCI EMERGING MARKETcall	$38,500,000	–	1,000,000	–	0.23%	–
	New	CATERPILLAR INCcall	$32,996,000	–	400,000	–	0.20%	–
GM	New	GENERAL MOTORS CO.	$31,645,000	–	950,000	–	0.19%	–
MSFT	New	MICROSOFT CORP	$26,201,000	–	758,472	–	0.16%	–
STZ	New	CONSTELLATION BRANDS INC-A	$22,505,000	–	431,800	–	0.14%	–
NDAQ	New	NASDAQ OMX GROUP	$21,314,000	–	650,000	–	0.13%	–
DXJ	New	WISDOMTREE JAPAN HEDGED EQ	$20,524,000	–	450,000	–	0.12%	–
JPM	New	JPMORGAN CHASE & CO	$20,373,000	–	385,933	–	0.12%	–
HD	New	HOME DEPOT INC	$19,368,000	–	250,000	–	0.12%	–
COF	New	CAPITAL ONE FINANCIAL CORP	$18,843,000	–	300,000	–	0.11%	–
CHTR	New	CHARTER COMMUNICATION-A	$18,578,000	–	150,000	–	0.11%	–
ORCL	New	ORACLE CORP	$18,091,000	–	589,090	–	0.11%	–
	New	MANITOWOC CO INC.call	$17,910,000	–	1,000,000	–	0.11%	–
SU	New	SUNCOR ENERGY INC	$17,104,000	–	580,000	–	0.10%	–
AIG	New	AMERICAN INTERNATIONAL GROUP	$16,825,000	–	376,400	–	0.10%	–
WFC	New	WELLS FARGO & CO	$16,508,000	–	400,000	–	0.10%	–
CF	New	CF INDUSTRIES HOLDINGS INC	$16,584,000	–	96,700	–	0.10%	–
	New	WISDOMTREE JAPAN HEDGED EQcall	$15,964,000	–	350,000	–	0.10%	–
GSK	New	GLAXO SMITH KLINE PLC-SPON ADR	$15,491,000	–	310,000	–	0.09%	–
NOV	New	NATIONAL OILWELL VARCO INC	$15,158,000	–	219,998	–	0.09%	–
TWC	New	TIME WARNER CABLE	$14,060,000	–	125,000	–	0.08%	–
MDT	New	MEDTRONIC INC	$13,855,000	–	269,195	–	0.08%	–
PFE	New	PFIZER INC	$12,620,000	–	450,541	–	0.08%	–
CSCO	New	CISCO SYSTEMS INC	$12,168,000	–	500,000	–	0.07%	–
	New	MICROSOFT CORPput	$12,091,000	–	350,000	–	0.07%	–
SLB	New	SCHLUMBERGER LTD	$11,824,000	–	165,000	–	0.07%	–
BAC	New	BANK OF AMERICA CORP	$11,734,000	–	912,443	–	0.07%	–
WDC	New	WESTERN DIGITAL CORP	$9,934,000	–	160,000	–	0.06%	–
DNRCQ	New	DENBURY RESOURCES INC	$9,786,000	–	565,000	–	0.06%	–
	New	MICROSOFT CORPcall	$8,982,000	–	260,000	–	0.05%	–
PNC	New	PNC FINANCIAL SERVICES GROUP	$8,976,000	–	123,089	–	0.05%	–
	New	UNITED PARCEL SERVICE-CL Bput	$8,648,000	–	100,000	–	0.05%	–
HPQ	New	HEWLETT-PACKARD CO	$8,121,000	–	327,445	–	0.05%	–
NEM	New	NEWMONT MINING CORP	$7,787,000	–	260,000	–	0.05%	–
	New	WHIRLPOOL CORPput	$6,857,000	–	60,000	–	0.04%	–
	New	MCKESSON CORPput	$6,870,000	–	60,000	–	0.04%	–
GLOG	New	GASLOG LTD	$6,688,000	–	522,500	–	0.04%	–
SPLS	New	STAPLES INC	$6,114,000	–	385,266	–	0.04%	–
	New	NEWMONT MINING CORPcall	$5,990,000	–	200,000	–	0.04%	–
	New	WESTERN DIGITAL CORPcall	$5,899,000	–	95,000	–	0.04%	–
NSM	New	NATIONSTAR MORTGAGE HOLDINGS	$5,616,000	–	150,000	–	0.03%	–
	New	CITIGROUP INCput	$5,756,000	–	120,000	–	0.03%	–
	New	UNITED TECHNOLOGIES CORPput	$5,576,000	–	60,000	–	0.03%	–
SWC	New	STILLWATER MINING CO	$5,370,000	–	499,963	–	0.03%	–
CMI	New	CUMMINS INC	$5,423,000	–	50,000	–	0.03%	–
UPS	New	UNITED PARCEL SERVICE-CL B	$5,189,000	–	60,000	–	0.03%	–
	New	DU PONT E.I. DE NEMOURSput	$5,250,000	–	100,000	–	0.03%	–
AAPL	New	APPLE INC	$5,056,000	–	12,750	–	0.03%	–
KGC	New	KINROSS GOLD CORP	$4,781,000	–	937,510	–	0.03%	–
	New	NEWMONT MINING CORPput	$4,792,000	–	160,000	–	0.03%	–
INFN	New	INFINERA CORP	$4,908,000	–	460,000	–	0.03%	–
	New	BARRICK GOLD CORPput	$4,881,000	–	310,100	–	0.03%	–
	New	CARDINAL HEALTH INCput	$4,720,000	–	100,000	–	0.03%	–
	New	CUMMINS INCput	$4,338,000	–	40,000	–	0.03%	–
	New	LOWE'S COS INCput	$4,090,000	–	100,000	–	0.02%	–
	New	BOEING CO.put	$4,098,000	–	40,000	–	0.02%	–
ZTS	New	ZOETIS INC	$3,910,000	–	126,568	–	0.02%	–
	New	CIENA CORPput	$3,886,000	–	200,000	–	0.02%	–
CBS	New	CBS CORP-CLASS B NON VOTING	$3,665,000	–	75,000	–	0.02%	–
TSLA	New	TESLA MOTORS INC	$3,758,000	–	35,000	–	0.02%	–
	New	CF INDUSTRIES HOLDINGS INCput	$3,430,000	–	20,000	–	0.02%	–
	New	TESLA MOTORS INC 1.5% 2018/06/01corp	$3,377,000	–	3,000,000	–	0.02%	–
CIEN	New	CIENA CORP	$3,109,000	–	160,000	–	0.02%	–
	New	BARRICK GOLD CORPcall	$3,148,000	–	200,000	–	0.02%	–
MTW	New	MANITOWOC CO INC.	$3,134,000	–	175,000	–	0.02%	–
	New	MARTIN MARIETTA MATERIALSput	$2,953,000	–	30,000	–	0.02%	–
MLM	New	MARTIN MARIETTA MATERIALS	$2,953,000	–	30,000	–	0.02%	–
	New	MARKET VECTORS JR GOLD MINERput	$2,931,000	–	320,000	–	0.02%	–
	New	CASH AMERICA INTL INCput	$2,955,000	–	65,000	–	0.02%	–
	New	CORNING INCput	$2,848,000	–	200,000	–	0.02%	–
BTG	New	B2GOLD CORP	$2,679,000	–	1,258,105	–	0.02%	–
GDXJ	New	MARKET VECTORS JR GOLD MINER	$2,709,000	–	295,700	–	0.02%	–
SCHW	New	SCHWAB CHARLES CORP	$2,548,000	–	120,000	–	0.02%	–
	New	HERTZ GLOBAL HOLDINGS INCput	$2,480,000	–	100,000	–	0.02%	–
PVG	New	PRETIUM RESOURCES INC	$2,382,000	–	358,942	–	0.01%	–
IAG	New	IAMGOLD CORP	$2,333,000	–	555,138	–	0.01%	–
BRCD	New	BROCADE COMMUNICATIONS SYS	$2,189,000	–	380,000	–	0.01%	–
NG	New	NOVAGOLD RESOURCES INC	$2,191,000	–	1,038,460	–	0.01%	–
DD	New	DU PONT E.I. DE NEMOURS	$2,100,000	–	40,000	–	0.01%	–
CDE	New	COEUR MINING INC	$1,843,000	–	138,544	–	0.01%	–
PMCS	New	PMC - SIERRA INC	$1,906,000	–	300,000	–	0.01%	–
GOLD	New	BARRICK GOLD CORP	$1,820,000	–	115,631	–	0.01%	–
RBYCF	New	RUBICON MINERALS CORP	$1,799,000	–	1,401,817	–	0.01%	–
	New	MARKET VECTORS JR GOLD MINERcall	$1,832,000	–	200,000	–	0.01%	–
AUQ	New	AURICO GOLD INC	$1,617,000	–	370,048	–	0.01%	–
VGZ	New	VISTA GOLD CORP	$1,706,000	–	1,758,748	–	0.01%	–
VIAB	New	VIACOM INC-CLASS B	$1,701,000	–	25,000	–	0.01%	–
	New	CLIFFS NATURAL RESOURCES INCput	$1,625,000	–	100,000	–	0.01%	–
BACWSB	New	BANK OF AMERICA CORPwarrant	$1,608,000	–	125,000	–	0.01%	–
	New	CAMECO CORPput	$1,653,000	–	80,000	–	0.01%	–
SAND	New	SANDSTORM GOLD LTD	$1,693,000	–	288,626	–	0.01%	–
IBM	New	INTL BUSINESS MACHINES CORP	$1,576,000	–	8,249	–	0.01%	–
ZOLT	New	ZOLTEK COMPANIES INC	$1,549,000	–	120,000	–	0.01%	–
	New	GOLDCORP INCput	$1,484,000	–	60,000	–	0.01%	–
GG	New	GOLDCORP INC	$1,484,000	–	60,000	–	0.01%	–
	New	SCHWAB CHARLES CORPput	$1,274,000	–	60,000	–	0.01%	–
APC	New	ANADARKO PETROLEUM CORP	$1,257,000	–	14,625	–	0.01%	–
GMWSB	New	GENERAL MOTORS CO.warrant	$1,359,000	–	40,800	–	0.01%	–
OXY	New	OCCIDENTAL PETROLEUM CORP	$1,243,000	–	13,930	–	0.01%	–
MAG	New	MAG SILVER CORP	$1,233,000	–	210,888	–	0.01%	–
	New	MARKET VECTORS GOLD MINERSput	$980,000	–	40,000	–	0.01%	–
XRX	New	XEROX CORP	$943,000	–	103,975	–	0.01%	–
TRV	New	TRAVELERS COS INC	$1,039,000	–	13,000	–	0.01%	–
CAH	New	CARDINAL HEALTH INC	$944,000	–	20,000	–	0.01%	–
FDX	New	FEDEX CORP	$927,000	–	9,400	–	0.01%	–
LOW	New	LOWE'S COS INC	$818,000	–	20,000	–	0.01%	–
LNC	New	LINCOLN NATIONAL CORP	$766,000	–	21,000	–	0.01%	–
PPL	New	PPL CORPORATION	$908,000	–	30,000	–	0.01%	–
	New	MOLYCORP INCput	$620,000	–	100,000	–	0.00%	–
C	New	CITIGROUP INC	$613,000	–	12,788	–	0.00%	–
MET	New	METLIFE INC	$686,000	–	15,000	–	0.00%	–
THOR	New	THORATEC CORP	$689,000	–	22,000	–	0.00%	–
HL	New	HECLA MINING CO	$739,000	–	248,094	–	0.00%	–
XRA	New	EXETER RESOURCE CORP	$464,000	–	642,545	–	0.00%	–
PCG	New	P G & E CORP	$574,000	–	12,553	–	0.00%	–
DE	New	DEERE & CO	$528,000	–	6,500	–	0.00%	–
RGA	New	REINSURANCE GROUP OF AMERICA	$553,000	–	8,000	–	0.00%	–
CNO	New	CNO FINANCIAL GROUP INC	$429,000	–	33,100	–	0.00%	–
PAAS	New	PAN AMERICAN SILVER CORP	$491,000	–	42,176	–	0.00%	–
JNJ	New	JOHNSON & JOHNSON	$552,000	–	6,432	–	0.00%	–
CMCSK	New	COMCAST CORP-SPECIAL CL A	$555,000	–	14,000	–	0.00%	–
DVN	New	DEVON ENERGY CORPORATION	$504,000	–	9,715	–	0.00%	–
WPX	New	WPX ENERGY INC	$574,000	–	30,280	–	0.00%	–
DAL	New	DELTA AIR LINES INC	$474,000	–	25,350	–	0.00%	–
RDSA	New	ROYAL DUTCH SHELL PLC-ADR	$267,000	–	4,184	–	0.00%	–
AMKR	New	AMKOR TECHNOLOGY INC	$253,000	–	60,000	–	0.00%	–
APA	New	APACHE CORP	$342,000	–	4,080	–	0.00%	–
AIZ	New	ASSURANT INC	$267,000	–	5,250	–	0.00%	–
AVT	New	AVNET INC	$326,000	–	9,700	–	0.00%	–
BP	New	BP PLC-SPONS ADR	$356,000	–	8,540	–	0.00%	–
BHI	New	BAKER HUGHES INC	$262,000	–	5,675	–	0.00%	–
BA	New	BOEING CO.	$307,000	–	3,000	–	0.00%	–
LSE	New	CAPLEASE INC	$283,000	–	33,498	–	0.00%	–
CRS	New	CARPENTER TECHNOLOGY INC.	$326,000	–	7,236	–	0.00%	–
GPRE	New	GREEN PLAINS RENEWABLE ENERGY	$326,000	–	24,500	–	0.00%	–
IPG	New	INTERPUBLIC GROUP OF COS INC	$286,000	–	19,650	–	0.00%	–
MRK	New	MERCK & CO. INC.	$324,000	–	6,982	–	0.00%	–
NCQ	New	NOVACOPPER INC	$303,000	–	173,076	–	0.00%	–
RCII	New	RENT-A-CENTER INC	$334,000	–	8,889	–	0.00%	–
VRTS	New	VIRTUS INVESTMENT PARTNERS	$280,000	–	1,587	–	0.00%	–
V107SC	New	WELLPOINT INC	$385,000	–	4,700	–	0.00%	–
WLL	New	WHITING PETROLEUM CORP	$369,000	–	8,000	–	0.00%	–
3106PS	New	DELPHI AUTOMOTIVE PLC	$271,000	–	5,350	–	0.00%	–
OC	New	OWENS CORNING	$217,000	–	5,550	–	0.00%	–
OMC	New	OMNICOM GROUP	$237,000	–	3,775	–	0.00%	–
MWA	New	MUELLER WATER PRODUCTS INC-A	$191,000	–	27,603	–	0.00%	–
TEVA	New	TEVA PHARMACEUTICAL-SP ADR	$226,000	–	5,755	–	0.00%	–
MS	New	MORGAN STANLEY	$200,000	–	8,204	–	0.00%	–
CLF	New	CLIFFS NATURAL RESOURCES INC	$162,000	–	10,000	–	0.00%	–
CCJ	New	CAMECO CORP	$207,000	–	10,000	–	0.00%	–
1338PS	New	UBS AG-REG	$211,000	–	12,425	–	0.00%	–
S	New	SPRINT COMMUNICATIONS INC	$93,000	–	13,271	–	0.00%	–
PSTB	New	PARK STERLING CORP	$121,000	–	20,415	–	0.00%	–
MDWCQ	New	MIDWAY GOLD CORP	$180,000	–	197,679	–	0.00%	–
LLL	New	L-3 COMMUNICATIONS HOLDINGS	$220,000	–	2,571	–	0.00%	–
VOYA	New	ING US INC	$225,000	–	8,300	–	0.00%	–
UEC	New	URANIUM ENERGY CORP	$129,000	–	71,967	–	0.00%	–
VCI	New	VALASSIS COMMUNICATIONS INC	$208,000	–	8,475	–	0.00%	–
HPT	New	HOSPITALITY PROPERTIES TRUST	$223,000	–	8,500	–	0.00%	–
HHS	New	HARTE-HANKS INC	$130,000	–	15,064	–	0.00%	–
CDVIQ	New	CAL DIVE INTERNATIONAL INC	$102,000	–	54,028	–	0.00%	–
WLTGQ	New	WALTER ENERGY INC	$153,000	–	14,735	–	0.00%	–
	New	WALTER ENERGY INCput	$124,000	–	11,900	–	0.00%	–
IVZ	New	INVESCO LTD	$232,000	–	7,300	–	0.00%	–
HSC	New	HARSCO CORP	$208,000	–	8,975	–	0.00%	–
GRPU	New	GRANITE REAL ESTATE INVESTMENT	$235,000	–	6,800	–	0.00%	–
GS	New	GOLDMAN SACHS GROUP INC	$227,000	–	1,500	–	0.00%	–
GCA	New	GLOBAL CASH ACCESS HOLDINGS	$237,000	–	37,844	–	0.00%	–
TEL	New	TE CONNECTIVITY LTD	$230,000	–	5,050	–	0.00%	–
EZPW	New	EZCORP INC-CL A	$177,000	–	10,473	–	0.00%	–
DELL	New	DELL INC	$179,000	–	13,375	–	0.00%	–
CRAY	New	CRAY INC	$202,000	–	10,284	–	0.00%	–
LODE	New	COMSTOCK MINING INC	$183,000	–	111,020	–	0.00%	–
MWW	New	MONSTER WORLDWIDE INC	$72,000	–	14,575	–	0.00%	–
ARC	New	ARC DOCUMENT SOLUTIONS INC	$43,000	–	10,825	–	0.00%	–
SNV	New	SYNOVUS FINANCIAL CORP	$53,000	–	18,225	–	0.00%	–
KBXRF	New	KIMBER RESOURCES INC	$52,000	–	641,515	–	0.00%	–
WTSLQ	New	WET SEAL CL A	$64,000	–	13,500	–	0.00%	–

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