DELPHI MANAGEMENT INC /MA/ Activity Q4 1999-Q2 2023

Q2 2023

			Value		Shares		↓ Weighting
AAPL	New	APPLE	$2,855	–	14,717	–	2.97%	–
BRKB	New	BERKSHIRE HATHAWAY INC CL B	$2,557	–	7,498	–	2.66%	–
JBL	New	JABIL CIRCUIT INC.	$1,536	–	14,234	–	1.60%	–
ARW	New	ARROW ELECTRS INC COM	$1,493	–	10,423	–	1.55%	–
SNA	New	SNAP-ON INC	$1,439	–	4,992	–	1.50%	–
SANM	New	SANMINA SCI CORP	$1,426	–	23,661	–	1.48%	–
KLAC	New	KLA CORP COM	$1,421	–	2,930	–	1.48%	–
DHI	New	D R HORTON INC COM	$1,416	–	11,635	–	1.47%	–
FLEX	New	FLEXTRONICS INTERNATIONAL LTDord	$1,411	–	51,046	–	1.47%	–
AMAT	New	APPLIED MATLS INC COM	$1,410	–	9,753	–	1.47%	–
ORCL	New	ORACLE	$1,407	–	11,817	–	1.46%	–
FISV	New	FISERV INC.	$1,402	–	11,115	–	1.46%	–
DOX	New	AMDOCS LTD.	$1,396	–	14,122	–	1.45%	–
CMCSA	New	COMCAST CL Acl a	$1,387	–	33,374	–	1.44%	–
CACI	New	CACI INTL INC	$1,386	–	4,065	–	1.44%	–
DOV	New	DOVER CORP	$1,373	–	9,301	–	1.43%	–
LEN	New	LENNAR CORP CL Acl a	$1,373	–	10,953	–	1.43%	–
	New	EXPEDIA CORP	$1,370	–	12,523	–	1.42%	–
STAG	New	STAG INDUSTRIAL	$1,363	–	37,993	–	1.42%	–
AGCO	New	AGCO	$1,363	–	10,369	–	1.42%	–
	New	BLACKSTONE SECD LENDING FDcl b	$1,362	–	49,785	–	1.42%	–
LRCX	New	LAM RESEARCH CORP	$1,361	–	2,117	–	1.42%	–
IRM	New	IRON MOUNTAIN INC	$1,353	–	23,810	–	1.41%	–
NXST	New	NEXSTAR MEDIA	$1,346	–	8,084	–	1.40%	–
STRL	New	STERLING CONSTRUCTION	$1,340	–	24,010	–	1.39%	–
CSCO	New	CISCO SYS INC COM	$1,339	–	25,881	–	1.39%	–
RL	New	RALPH LAUREN CORP	$1,335	–	10,824	–	1.39%	–
JPM	New	JP MORGAN CHASE AND CO	$1,333	–	9,166	–	1.39%	–
TXT	New	TEXTRON INC.ads	$1,332	–	19,695	–	1.38%	–
COKE	New	COCA COLA BOTTLNG CONS COM	$1,329	–	2,089	–	1.38%	–
ARCC	New	ARES CAPITAL CORPORATION	$1,323	–	70,387	–	1.38%	–
HTGC	New	HERCULES CAPITAL INCord	$1,315	–	88,818	–	1.37%	–
BUD	New	ANHEUSER-BUSCH	$1,303	–	22,974	–	1.35%	–
ST	New	SENSATA TECHNOLOGY	$1,301	–	28,920	–	1.35%	–
	New	EVEREST GRP	$1,300	–	3,804	–	1.35%	–
NVS	New	NOVARTISadr	$1,284	–	12,721	–	1.34%	–
SF	New	STIFEL FINL CORP	$1,264	–	21,191	–	1.31%	–
JAZZ	New	JAZZ PHARMACEUTICALS	$1,264	–	10,194	–	1.31%	–
WRB	New	BERKLEY WR	$1,263	–	21,200	–	1.31%	–
RRC	New	RANGE RES	$1,262	–	42,921	–	1.31%	–
FANG	New	DIAMONDBACK ENERGY	$1,253	–	9,536	–	1.30%	–
LKQ	New	LKQ CORP	$1,242	–	21,312	–	1.29%	–
ASIX	New	ADVANSIX INC	$1,242	–	35,518	–	1.29%	–
MS	New	MORGAN STANLEY	$1,239	–	14,507	–	1.29%	–
AVB	New	AVALONBAY COMMUNITIES, INC.	$1,236	–	6,531	–	1.28%	–
TPR	New	TAPESTRY INC	$1,233	–	28,816	–	1.28%	–
GS	New	GOLDMAN SACHS	$1,230	–	3,814	–	1.28%	–
NSIT	New	INSIGHT ENTERPRISES	$1,215	–	8,302	–	1.26%	–
CSLLY	New	CARLISLE COSunit	$1,215	–	4,736	–	1.26%	–
SNX	New	TD SYNNEX CORP	$1,208	–	12,846	–	1.26%	–
EXP	New	EAGLE MATERIALS	$1,204	–	6,456	–	1.25%	–
AXS	New	AXIS CAPITAL HOLDINGS LTD	$1,191	–	22,122	–	1.24%	–
ALB	New	ALBEMARLE	$1,183	–	5,305	–	1.23%	–
CB	New	CHUBB LIMITED	$1,158	–	6,012	–	1.20%	–
GHC	New	GRAHAM HOLDINGS LTDcl b	$1,151	–	2,014	–	1.20%	–
CMC	New	COMMERCIAL METALS CO	$1,113	–	21,141	–	1.16%	–
BATRK	New	LIBERTY BRAVES GROUP CL C	$1,101	–	27,798	–	1.14%	–
ITRN	New	ITURAN LOCATION AND CONTROL LTD.	$1,092	–	46,801	–	1.14%	–
CAKE	New	CHEESECAKE FACTORY INC	$1,078	–	31,185	–	1.12%	–
ABBV	New	ABBVIE INC	$1,068	–	7,925	–	1.11%	–
EOG	New	EOG RESOURCESadr	$1,053	–	9,199	–	1.10%	–
DVN	New	DEVON ENERGY CORP COM	$985	–	20,382	–	1.02%	–
WTFC	New	WINTRUST FINL	$976	–	13,442	–	1.02%	–
DFIN	New	DONNELLEY FINL	$949	–	20,854	–	0.99%	–
WBS	New	WEBSTER FINL CORP CONN COM	$940	–	24,907	–	0.98%	–
ANTM	New	ELEVANCE HEALTH INC	$928	–	2,089	–	0.96%	–
WLKP	New	WESTLAKE CHEMICAL PARTNERS LP	$910	–	41,934	–	0.95%	–
SCHW	New	SCHWAB CHARLES CORP	$894	–	15,773	–	0.93%	–
HAL	New	HALLIBURTON CO COM	$875	–	26,535	–	0.91%	–
MOS	New	MOSAIC CO	$811	–	23,173	–	0.84%	–
EQNR	New	EQUINOR ASA	$794	–	27,199	–	0.82%	–
HZO	New	MARINE MAX	$755	–	22,102	–	0.78%	–
AZO	New	AUTOZONE INC	$755	–	303	–	0.78%	–
	New	CADENCE BANKcl a	$742	–	37,755	–	0.77%	–
TECK	New	TECK RESOURCES	$731	–	17,356	–	0.76%	–
OXM	New	OXFORD INDS	$502	–	5,100	–	0.52%	–
	New	PERION NETWORK LTD	$491	–	16,021	–	0.51%	–
GBDC	New	GOLUB CAPITAL BDC	$382	–	28,306	–	0.40%	–
MOD	New	MODINE MANFG	$327	–	9,891	–	0.34%	–
IIIN	New	INSTEEL INDUSTRIES INC.	$294	–	9,461	–	0.31%	–
IBEX	New	IBEX LTD	$284	–	13,387	–	0.30%	–
NEX	New	NEXTIER OILFIELD SOL	$80	–	8,990	–	0.08%	–

Q4 2021

			Value		Shares		↓ Weighting
LAKE	Exit	LAKELAND INDUSTRIES	$0	–	-9,555	–	-0.21%	–
FCX	Exit	FREEPORT MCMORANcl b	$0	–	-6,200	–	-0.21%	–
STRT	Exit	STRATEC SECURITY CORP	$0	–	-5,755	–	-0.23%	–
TPH	Exit	TRI POINTE HOMES INC	$0	–	-10,915	–	-0.24%	–
BWA	Exit	BORG WARNER	$0	–	-5,315	–	-0.24%	–
HIMX	Exit	HIMAX TECHNOLOGIESadr	$0	–	-22,650	–	-0.25%	–
HURC	Exit	HURCO COMPANIES	$0	–	-7,579	–	-0.25%	–
DMLRY	Exit	DAIMLER AGadr	$0	–	-11,200	–	-0.26%	–
ITRN	Exit	ITURAN LOCATION AND CONTROL LTD.	$0	–	-10,271	–	-0.27%	–
SANM	Exit	SANMINA SCI CORP	$0	–	-6,965	–	-0.28%	–
GMS	Exit	GMS INC	$0	–	-6,459	–	-0.29%	–
MBUU	Exit	MALIBU BOATS INCcl a	$0	–	-4,203	–	-0.30%	–
VSH	Exit	VISHAY INTERTECHNOLOGY INC	$0	–	-15,000	–	-0.31%	–
GBDC	Exit	GOLUB CAPITAL BDC	$0	–	-19,425	–	-0.32%	–
NUE	Exit	NUCOR CORPORATION	$0	–	-3,173	–	-0.32%	–
SAMG	Exit	SILVERCREST ASSET MGMT GROUPcl a	$0	–	-20,072	–	-0.32%	–
GMRE	Exit	GLOBAL MEDICAL REIT INC	$0	–	-23,354	–	-0.35%	–
KEY	Exit	KEYCORP INC	$0	–	-17,800	–	-0.40%	–
GHC	Exit	GRAHAM HOLDINGS LTDcl b	$0	–	-662	–	-0.40%	–
RCII	Exit	RENT-A-CENTER INC	$0	–	-7,911	–	-0.46%	–
TGNA	Exit	TEGNA INC	$0	–	-23,440	–	-0.48%	–
WBS	Exit	WEBSTER FINL CORP CONN COM	$0	–	-8,645	–	-0.48%	–
CBT	Exit	CABOT CORP	$0	–	-9,955	–	-0.51%	–
CHKP	Exit	CHECK POINT SOFTWAREord	$0	–	-4,756	–	-0.55%	–
AB	Exit	ALLIANCEBERNSTEIN LPunit	$0	–	-10,847	–	-0.55%	–
CODI	Exit	COMPASS DIVERSIFIED HOLDINGS	$0	–	-22,821	–	-0.66%	–
AMKR	Exit	AMKOR TECHNOLOGY INC	$0	–	-30,615	–	-0.79%	–
ENS	Exit	ENERSYS	$0	–	-10,466	–	-0.80%	–
OSK	Exit	OSHKOSH CORP	$0	–	-7,628	–	-0.80%	–
IIIN	Exit	INSTEEL INDUSTRIES INC.	$0	–	-20,678	–	-0.81%	–
VEC	Exit	VECTRUS INC	$0	–	-15,770	–	-0.82%	–
STRL	Exit	STERLING CONSTRUCTION	$0	–	-35,838	–	-0.84%	–
RHHBY	Exit	ROCHE HOLDINGS LIMITEDadr	$0	–	-17,880	–	-0.84%	–
KRC	Exit	KILROY REALTY CORP	$0	–	-12,310	–	-0.84%	–
JAZZ	Exit	JAZZ PHARMACEUTICALS	$0	–	-6,467	–	-0.87%	–
ST	Exit	SENSATA TECHNOLOGY	$0	–	-15,403	–	-0.87%	–
FL	Exit	FOOT LOCKER INC	$0	–	-19,008	–	-0.89%	–
PHM	Exit	PULTE HOMES	$0	–	-19,059	–	-0.90%	–
	Exit	TRINSEO SA	$0	–	-16,459	–	-0.91%	–
WLKP	Exit	WESTLAKE CHEMICAL PARTNERS LP	$0	–	-36,692	–	-0.92%	–
CE	Exit	CELANESE CORP	$0	–	-5,976	–	-0.93%	–
GTN	Exit	GRAY TELEVISION INC	$0	–	-40,080	–	-0.94%	–
PII	Exit	POLARIS INC	$0	–	-7,905	–	-0.97%	–
IRM	Exit	IRON MOUNTAIN INC	$0	–	-22,173	–	-0.99%	–
OMI	Exit	OWENS AND MINOR	$0	–	-31,137	–	-1.00%	–
JEF	Exit	JEFFERIES FINANCIAL GROUP	$0	–	-26,816	–	-1.02%	–
STLD	Exit	STEEL DYNAMICS INC	$0	–	-17,118	–	-1.03%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-1,790	–	-1.05%	–
TPVG	Exit	TRIPLE POINT VENTURE GROWTH	$0	–	-65,414	–	-1.07%	–
JBL	Exit	JABIL CIRCUIT INC.	$0	–	-17,801	–	-1.07%	–
BLK	Exit	BLACKROCK INC	$0	–	-1,250	–	-1.08%	–
ANTM	Exit	ANTHEM INC	$0	–	-2,831	–	-1.08%	–
KLAC	Exit	KLA CORP COM	$0	–	-3,175	–	-1.09%	–
STX	Exit	SEAGATE TECHNOLOGY	$0	–	-12,914	–	-1.10%	–
SNX	Exit	TD SYNNEX CORP	$0	–	-10,272	–	-1.10%	–
WDC	Exit	WESTERN DIGITAL CORPORATION	$0	–	-19,131	–	-1.11%	–
AMAT	Exit	APPLIED MATLS INC COM	$0	–	-8,400	–	-1.11%	–
DIS	Exit	DISNEY WALT CO COM	$0	–	-6,449	–	-1.12%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES	$0	–	-11,634	–	-1.12%	–
NOC	Exit	NORTHROP GRUMMAN CORP	$0	–	-3,035	–	-1.12%	–
TPR	Exit	TAPESTRY INC	$0	–	-29,564	–	-1.13%	–
FDX	Exit	FEDEX CORP	$0	–	-4,993	–	-1.13%	–
NVS	Exit	NOVARTISadr	$0	–	-13,473	–	-1.13%	–
TROW	Exit	PRICE T ROWE GROUP INC	$0	–	-5,606	–	-1.14%	–
CB	Exit	CHUBB LIMITED	$0	–	-6,360	–	-1.14%	–
LMT	Exit	LOCKHEED MARTIN CORP	$0	–	-3,200	–	-1.14%	–
UCTT	Exit	ULTRA CLEAN HOLDINGS	$0	–	-25,919	–	-1.14%	–
MGA	Exit	MAGNA INTL INC	$0	–	-14,904	–	-1.15%	–
GIII	Exit	G-III APPAREL GROUP LTD.	$0	–	-40,127	–	-1.17%	–
EOG	Exit	EOG RESOURCES	$0	–	-14,520	–	-1.20%	–
CNXC	Exit	CONCENTRIX CORP	$0	–	-6,670	–	-1.22%	–
HZO	Exit	MARINE MAX	$0	–	-24,460	–	-1.22%	–
COWN	Exit	COWEN INCcl a	$0	–	-34,587	–	-1.22%	–
LPX	Exit	LOUISIANA PACIFIC	$0	–	-19,476	–	-1.23%	–
ICHR	Exit	ICHOR HOLDINGS	$0	–	-29,321	–	-1.24%	–
AZO	Exit	AUTOZONE INC	$0	–	-710	–	-1.24%	–
MHO	Exit	M/I HOMES INC	$0	–	-20,976	–	-1.25%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-17,085	–	-1.25%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-20,733	–	-1.26%	–
CHTR	Exit	CHARTER COMMUNICATIONScl a	$0	–	-1,697	–	-1.27%	–
ABBV	Exit	ABBVIE INC	$0	–	-11,658	–	-1.29%	–
DHI	Exit	D R HORTON INC COM	$0	–	-15,005	–	-1.30%	–
LEN	Exit	LENNAR CORP CL Acl a	$0	–	-13,492	–	-1.30%	–
COHU	Exit	COHU INC COM	$0	–	-40,301	–	-1.32%	–
	Exit	CIVITAS RESOURCES	$0	–	-27,004	–	-1.33%	–
ARCC	Exit	ARES CAPITAL CORPORATION	$0	–	-65,788	–	-1.38%	–
STAG	Exit	STAG INDUSTRIAL	$0	–	-34,208	–	-1.38%	–
PDCE	Exit	PDC ENERGY INC	$0	–	-28,356	–	-1.38%	–
HTGC	Exit	HERCULES CAPITAL INC	$0	–	-81,182	–	-1.39%	–
ARW	Exit	ARROW ELECTRS INC COM	$0	–	-12,010	–	-1.39%	–
RE	Exit	EVEREST RE	$0	–	-5,389	–	-1.39%	–
CMCSA	Exit	COMCAST CL Acl a	$0	–	-24,174	–	-1.39%	–
MKSI	Exit	MKS INSTRUMENTS	$0	–	-9,009	–	-1.40%	–
MS	Exit	MORGAN STANLEY	$0	–	-14,019	–	-1.40%	–
NXST	Exit	NEXSTAR MEDIAcl a	$0	–	-9,142	–	-1.43%	–
FANG	Exit	DIAMONDBACK ENERGY	$0	–	-14,921	–	-1.45%	–
GS	Exit	GOLDMAN SACHS	$0	–	-3,920	–	-1.52%	–
JPM	Exit	JP MORGAN CHASE AND CO	$0	–	-9,094	–	-1.53%	–
ASIX	Exit	ADVANSIX INC	$0	–	-40,954	–	-1.68%	–
WFG	Exit	WEST FRASER TIMBER CO	$0	–	-29,008	–	-2.33%	–
AAPL	Exit	APPLE	$0	–	-17,165	–	-2.50%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC CL Bcl b	$0	–	-9,038	–	-2.54%	–

Q3 2021

			Value		Shares		↓ Weighting
BRKB	Buy	BERKSHIRE HATHAWAY INC CL Bcl b	$2,467,000	-0.9%	9,038	+0.9%	2.54%	+6.8%
AAPL	Sell	APPLE	$2,429,000	-1.2%	17,165	-4.4%	2.50%	+6.6%
WFG	Buy	WEST FRASER TIMBER CO	$2,261,000	+116.8%	29,008	+99.4%	2.33%	+133.8%
ASIX	Sell	ADVANSIX INC	$1,628,000	+16.6%	40,954	-12.4%	1.68%	+25.8%
JPM	Buy	JP MORGAN CHASE AND CO	$1,489,000	+5.6%	9,094	+0.4%	1.53%	+13.9%
GS	Sell	GOLDMAN SACHS	$1,482,000	-1.6%	3,920	-1.2%	1.52%	+6.1%
FANG	Sell	DIAMONDBACK ENERGY	$1,413,000	-4.4%	14,921	-5.2%	1.45%	+3.1%
NXST	Sell	NEXSTAR MEDIAcl a	$1,389,000	-1.5%	9,142	-4.1%	1.43%	+6.2%
MS	Sell	MORGAN STANLEY	$1,364,000	-4.4%	14,019	-9.9%	1.40%	+3.0%
MKSI	Buy	MKS INSTRUMENTS	$1,360,000	+22.2%	9,009	+44.1%	1.40%	+31.7%
CMCSA	Sell	COMCAST CL Acl a	$1,352,000	-9.0%	24,174	-7.3%	1.39%	-1.9%
RE	Sell	EVEREST RE	$1,351,000	-5.5%	5,389	-5.0%	1.39%	+1.9%
ARW	Sell	ARROW ELECTRS INC COM	$1,349,000	-5.5%	12,010	-4.2%	1.39%	+1.9%
HTGC	Sell	HERCULES CAPITAL INC	$1,348,000	-4.0%	81,182	-1.3%	1.39%	+3.5%
PDCE	Sell	PDC ENERGY INC	$1,344,000	-1.6%	28,356	-5.0%	1.38%	+6.1%
STAG	Sell	STAG INDUSTRIAL	$1,343,000	-2.8%	34,208	-7.3%	1.38%	+4.8%
ARCC	Sell	ARES CAPITAL CORPORATION	$1,337,000	+2.5%	65,788	-1.2%	1.38%	+10.6%
	New	CIVITAS RESOURCES	$1,293,000	–	27,004	–	1.33%	–
COHU	Buy	COHU INC COM	$1,287,000	+4.8%	40,301	+20.7%	1.32%	+13.0%
LEN	Sell	LENNAR CORP CL Acl a	$1,264,000	-13.1%	13,492	-7.8%	1.30%	-6.3%
DHI	Sell	D R HORTON INC COM	$1,260,000	-10.5%	15,005	-3.7%	1.30%	-3.5%
ABBV	Buy	ABBVIE INC	$1,258,000	-3.2%	11,658	+1.1%	1.29%	+4.4%
CHTR	Buy	CHARTER COMMUNICATIONScl a	$1,235,000	+2.1%	1,697	+1.2%	1.27%	+10.1%
BMY	Buy	BRISTOL-MYERS SQUIBB	$1,227,000	-8.8%	20,733	+3.0%	1.26%	-1.6%
MU	Sell	MICRON TECHNOLOGY INC	$1,213,000	-20.4%	17,085	-4.6%	1.25%	-14.1%
MHO	Sell	M/I HOMES INC	$1,212,000	-2.7%	20,976	-1.2%	1.25%	+4.9%
AZO	Sell	AUTOZONE INC	$1,206,000	+7.9%	710	-5.2%	1.24%	+16.3%
ICHR	Buy	ICHOR HOLDINGS	$1,205,000	-1.6%	29,321	+28.9%	1.24%	+6.2%
LPX	Sell	LOUISIANA PACIFIC	$1,195,000	-1.7%	19,476	-3.4%	1.23%	+5.9%
COWN	Sell	COWEN INCcl a	$1,187,000	-19.7%	34,587	-4.0%	1.22%	-13.5%
HZO	Sell	MARINE MAX	$1,187,000	-4.5%	24,460	-4.1%	1.22%	+3.0%
CNXC	Sell	CONCENTRIX CORP	$1,181,000	-6.9%	6,670	-15.4%	1.22%	+0.4%
EOG	New	EOG RESOURCES	$1,166,000	–	14,520	–	1.20%	–
GIII	Sell	G-III APPAREL GROUP LTD.	$1,136,000	-17.6%	40,127	-4.3%	1.17%	-11.1%
MGA	Sell	MAGNA INTL INC	$1,121,000	-20.6%	14,904	-2.1%	1.15%	-14.3%
UCTT	Sell	ULTRA CLEAN HOLDINGS	$1,104,000	-23.4%	25,919	-3.4%	1.14%	-17.4%
LMT	Buy	LOCKHEED MARTIN CORP	$1,104,000	-5.7%	3,200	+3.4%	1.14%	+1.7%
CB	Buy	CHUBB LIMITED	$1,103,000	+11.3%	6,360	+2.0%	1.14%	+20.0%
TROW	Sell	PRICE T ROWE GROUP INC	$1,103,000	-6.2%	5,606	-5.6%	1.14%	+1.2%
NVS	Buy	NOVARTISadr	$1,102,000	-9.2%	13,473	+1.3%	1.13%	-2.1%
FDX	New	FEDEX CORP	$1,095,000	–	4,993	–	1.13%	–
TPR	Sell	TAPESTRY INC	$1,094,000	-18.6%	29,564	-4.3%	1.13%	-12.2%
NOC	Sell	NORTHROP GRUMMAN CORP	$1,093,000	-2.8%	3,035	-1.8%	1.12%	+4.9%
LYB	Buy	LYONDELLBASELL INDUSTRIES	$1,092,000	-7.0%	11,634	+1.9%	1.12%	+0.3%
DIS	Sell	DISNEY WALT CO COM	$1,091,000	-5.1%	6,449	-1.4%	1.12%	+2.3%
AMAT	Sell	APPLIED MATLS INC COM	$1,081,000	-12.0%	8,400	-2.7%	1.11%	-5.2%
WDC	Sell	WESTERN DIGITAL CORPORATION	$1,080,000	-23.8%	19,131	-4.0%	1.11%	-17.9%
SNX	Sell	TD SYNNEX CORP	$1,069,000	-15.4%	10,272	-1.1%	1.10%	-8.8%
STX	Sell	SEAGATE TECHNOLOGY	$1,066,000	-11.8%	12,914	-6.0%	1.10%	-4.9%
KLAC	Sell	KLA CORP COM	$1,062,000	-5.0%	3,175	-7.9%	1.09%	+2.4%
ANTM	Buy	ANTHEM INC	$1,055,000	-1.7%	2,831	+0.7%	1.08%	+6.0%
BLK	Sell	BLACKROCK INC	$1,048,000	-5.3%	1,250	-1.2%	1.08%	+2.1%
JBL	Sell	JABIL CIRCUIT INC.	$1,039,000	-2.5%	17,801	-2.9%	1.07%	+5.1%
TPVG	Sell	TRIPLE POINT VENTURE GROWTH	$1,036,000	-2.8%	65,414	-6.7%	1.07%	+4.8%
LRCX	Buy	LAM RESEARCH CORP	$1,019,000	-10.1%	1,790	+2.8%	1.05%	-3.1%
STLD	Buy	STEEL DYNAMICS INC	$1,001,000	+257.5%	17,118	+264.2%	1.03%	+285.8%
JEF	Sell	JEFFERIES FINANCIAL GROUP	$996,000	+5.8%	26,816	-2.6%	1.02%	+14.1%
OMI	Sell	OWENS AND MINOR	$974,000	-31.2%	31,137	-6.8%	1.00%	-25.8%
IRM	Sell	IRON MOUNTAIN INC	$963,000	-4.8%	22,173	-7.3%	0.99%	+2.6%
PII	Buy	POLARIS INC	$946,000	-8.5%	7,905	+4.7%	0.97%	-1.4%
GTN	Sell	GRAY TELEVISION INC	$915,000	-6.8%	40,080	-4.5%	0.94%	+0.4%
CE	Sell	CELANESE CORP	$900,000	-5.7%	5,976	-5.0%	0.93%	+1.8%
WLKP	Sell	WESTLAKE CHEMICAL PARTNERS LP	$893,000	-15.4%	36,692	-6.3%	0.92%	-8.7%
	New	TRINSEO SA	$888,000	–	16,459	–	0.91%	–
PHM	Sell	PULTE HOMES	$875,000	-21.7%	19,059	-6.9%	0.90%	-15.6%
FL	Sell	FOOT LOCKER INC	$868,000	-28.7%	19,008	-3.9%	0.89%	-23.1%
ST	Sell	SENSATA TECHNOLOGY	$843,000	-12.0%	15,403	-6.8%	0.87%	-5.1%
JAZZ	Sell	JAZZ PHARMACEUTICALS	$842,000	-34.0%	6,467	-9.9%	0.87%	-28.8%
KRC	Sell	KILROY REALTY CORP	$815,000	-12.3%	12,310	-7.7%	0.84%	-5.4%
RHHBY	Sell	ROCHE HOLDINGS LIMITEDadr	$813,000	-4.0%	17,880	-0.8%	0.84%	+3.5%
STRL	Sell	STERLING CONSTRUCTION	$812,000	-8.0%	35,838	-2.1%	0.84%	-0.8%
VEC	Sell	VECTRUS INC	$793,000	+2.6%	15,770	-2.9%	0.82%	+10.6%
IIIN	Sell	INSTEEL INDUSTRIES INC.	$787,000	+11.0%	20,678	-6.2%	0.81%	+19.8%
OSK	Sell	OSHKOSH CORP	$781,000	-21.4%	7,628	-4.4%	0.80%	-15.2%
ENS	Sell	ENERSYS	$779,000	-27.1%	10,466	-4.3%	0.80%	-21.4%
AMKR	Buy	AMKOR TECHNOLOGY INC	$764,000	+42.8%	30,615	+35.5%	0.79%	+54.1%
CODI	Sell	COMPASS DIVERSIFIED HOLDINGS	$643,000	-1.7%	22,821	-11.1%	0.66%	+6.1%
AB	Sell	ALLIANCEBERNSTEIN LPunit	$538,000	-3.9%	10,847	-9.8%	0.55%	+3.7%
CHKP	Sell	CHECK POINT SOFTWAREord	$538,000	-16.7%	4,756	-14.6%	0.55%	-10.1%
CBT	Buy	CABOT CORP	$499,000	+2.5%	9,955	+16.4%	0.51%	+10.3%
WBS	New	WEBSTER FINL CORP CONN COM	$471,000	–	8,645	–	0.48%	–
TGNA	Buy	TEGNA INC	$462,000	+9.7%	23,440	+4.4%	0.48%	+18.2%
RCII	Sell	RENT-A-CENTER INC	$445,000	-10.5%	7,911	-15.5%	0.46%	-3.4%
GHC	Sell	GRAHAM HOLDINGS LTDcl b	$390,000	-17.4%	662	-11.1%	0.40%	-10.9%
GMRE	Sell	GLOBAL MEDICAL REIT INC	$343,000	-0.6%	23,354	-0.0%	0.35%	+7.3%
SAMG	Sell	SILVERCREST ASSET MGMT GROUPcl a	$313,000	-1.9%	20,072	-5.3%	0.32%	+5.9%
GBDC	Sell	GOLUB CAPITAL BDC	$307,000	-12.8%	19,425	-15.0%	0.32%	-6.0%
MBUU	Sell	MALIBU BOATS INCcl a	$294,000	-6.7%	4,203	-2.0%	0.30%	+0.3%
SANM	Sell	SANMINA SCI CORP	$268,000	-13.0%	6,965	-11.8%	0.28%	-6.1%
ITRN	Sell	ITURAN LOCATION AND CONTROL LTD.	$261,000	-17.4%	10,271	-11.4%	0.27%	-10.9%
HURC	Sell	HURCO COMPANIES	$244,000	-11.9%	7,579	-4.1%	0.25%	-4.9%
HIMX	New	HIMAX TECHNOLOGIESadr	$242,000	–	22,650	–	0.25%	–
BWA	Buy	BORG WARNER	$230,000	-2.1%	5,315	+9.6%	0.24%	+5.8%
TPH	Buy	TRI POINTE HOMES INC	$229,000	+7.0%	10,915	+9.2%	0.24%	+15.7%
STRT	Buy	STRATEC SECURITY CORP	$224,000	+9.3%	5,755	+25.1%	0.23%	+17.3%
FCX	New	FREEPORT MCMORANcl b	$202,000	–	6,200	–	0.21%	–
LAKE	New	LAKELAND INDUSTRIES	$201,000	–	9,555	–	0.21%	–
WERN	Exit	WERNER ENTERPRISES	$0	–	-5,500	–	-0.23%	–
LKQ	Exit	LKQ CORP	$0	–	-4,990	–	-0.24%	–
SNDR	Exit	SCHNEIDER NATL INCcl b	$0	–	-16,125	–	-0.34%	–
BCEI	Exit	BONANZA CREEK ENERGY	$0	–	-10,399	–	-0.47%	–
PRGS	Exit	PROGRESS SOFTWARE CORP	$0	–	-12,715	–	-0.56%	–
KE	Exit	KIMBALL ELECTRONICS INC	$0	–	-35,570	–	-0.74%	–
BX	Exit	BLACKSTONE GROUP	$0	–	-10,053	–	-0.93%	–
LUMN	Exit	LUMEN TECHNOLOGIES	$0	–	-76,544	–	-0.99%	–
TSE	Exit	TRINSEO SA	$0	–	-19,219	–	-1.10%	–
DGX	Exit	QUEST DIAGNOSTICS INC.	$0	–	-9,349	–	-1.18%	–
LH	Exit	LABORATORY CORP. OF AMERICA	$0	–	-5,417	–	-1.42%	–

Q2 2021

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC CL Bcl b	$2,490,000	–	8,958	–	2.38%	–
AAPL	New	APPLE	$2,458,000	–	17,946	–	2.34%	–
MU	New	MICRON TECHNOLOGY INC	$1,523,000	–	17,916	–	1.45%	–
GS	New	GOLDMAN SACHS	$1,506,000	–	3,969	–	1.44%	–
LH	New	LABORATORY CORP. OF AMERICA	$1,494,000	–	5,417	–	1.42%	–
CMCSA	New	COMCAST CL Acl a	$1,486,000	–	26,068	–	1.42%	–
COWN	New	COWEN INCcl a	$1,479,000	–	36,025	–	1.41%	–
FANG	New	DIAMONDBACK ENERGY	$1,478,000	–	15,737	–	1.41%	–
LEN	New	LENNAR CORP CL Acl a	$1,454,000	–	14,631	–	1.39%	–
UCTT	New	ULTRA CLEAN HOLDINGS	$1,441,000	–	26,831	–	1.38%	–
RE	New	EVEREST RE	$1,430,000	–	5,674	–	1.36%	–
MS	New	MORGAN STANLEY	$1,427,000	–	15,561	–	1.36%	–
ARW	New	ARROW ELECTRS INC COM	$1,427,000	–	12,540	–	1.36%	–
WDC	New	WESTERN DIGITAL CORPORATION	$1,418,000	–	19,918	–	1.35%	–
OMI	New	OWENS AND MINOR	$1,415,000	–	33,425	–	1.35%	–
MGA	New	MAGNA INTL INC	$1,411,000	–	15,226	–	1.35%	–
JPM	New	JP MORGAN CHASE AND CO	$1,410,000	–	9,062	–	1.34%	–
NXST	New	NEXSTAR MEDIAcl a	$1,410,000	–	9,534	–	1.34%	–
DHI	New	D R HORTON INC COM	$1,408,000	–	15,583	–	1.34%	–
HTGC	New	HERCULES CAPITAL INC	$1,404,000	–	82,284	–	1.34%	–
ASIX	New	ADVANSIX INC	$1,396,000	–	46,753	–	1.33%	–
STAG	New	STAG INDUSTRIAL	$1,382,000	–	36,912	–	1.32%	–
GIII	New	G-III APPAREL GROUP LTD.	$1,378,000	–	41,948	–	1.32%	–
PDCE	New	PDC ENERGY INC	$1,366,000	–	29,839	–	1.30%	–
BMY	New	BRISTOL-MYERS SQUIBB	$1,345,000	–	20,122	–	1.28%	–
TPR	New	TAPESTRY INC	$1,344,000	–	30,901	–	1.28%	–
ARCC	New	ARES CAPITAL CORPORATION	$1,304,000	–	66,563	–	1.24%	–
ABBV	New	ABBVIE INC	$1,299,000	–	11,532	–	1.24%	–
JAZZ	New	JAZZ PHARMACEUTICALS	$1,275,000	–	7,175	–	1.22%	–
CNXC	New	CONCENTRIX CORP	$1,268,000	–	7,884	–	1.21%	–
SNX	New	SYNNEX CORP	$1,264,000	–	10,385	–	1.21%	–
MHO	New	M/I HOMES INC	$1,246,000	–	21,235	–	1.19%	–
HZO	New	MARINE MAX	$1,243,000	–	25,493	–	1.19%	–
DGX	New	QUEST DIAGNOSTICS INC.	$1,234,000	–	9,349	–	1.18%	–
AMAT	New	APPLIED MATLS INC COM	$1,229,000	–	8,630	–	1.17%	–
COHU	New	COHU INC COM	$1,228,000	–	33,380	–	1.17%	–
ICHR	New	ICHOR HOLDINGS	$1,224,000	–	22,743	–	1.17%	–
FL	New	FOOT LOCKER INC	$1,218,000	–	19,770	–	1.16%	–
LPX	New	LOUISIANA PACIFIC	$1,216,000	–	20,167	–	1.16%	–
NVS	New	NOVARTISadr	$1,214,000	–	13,305	–	1.16%	–
CHTR	New	CHARTER COMMUNICATIONScl a	$1,210,000	–	1,677	–	1.15%	–
STX	New	SEAGATE TECHNOLOGY	$1,208,000	–	13,734	–	1.15%	–
TROW	New	PRICE T ROWE GROUP INC	$1,176,000	–	5,940	–	1.12%	–
LYB	New	LYONDELLBASELL INDUSTRIES	$1,174,000	–	11,415	–	1.12%	–
LMT	New	LOCKHEED MARTIN CORP	$1,171,000	–	3,094	–	1.12%	–
TSE	New	TRINSEO SA	$1,150,000	–	19,219	–	1.10%	–
DIS	New	DISNEY WALT CO COM	$1,150,000	–	6,541	–	1.10%	–
LRCX	New	LAM RESEARCH CORP	$1,134,000	–	1,742	–	1.08%	–
NOC	New	NORTHROP GRUMMAN CORP	$1,124,000	–	3,092	–	1.07%	–
AZO	New	AUTOZONE INC	$1,118,000	–	749	–	1.07%	–
KLAC	New	KLA CORP COM	$1,118,000	–	3,448	–	1.07%	–
PHM	New	PULTE HOMES	$1,117,000	–	20,463	–	1.07%	–
MKSI	New	MKS INSTRUMENTS	$1,113,000	–	6,252	–	1.06%	–
BLK	New	BLACKROCK INC	$1,107,000	–	1,265	–	1.06%	–
ANTM	New	ANTHEM INC	$1,073,000	–	2,810	–	1.02%	–
ENS	New	ENERSYS	$1,068,000	–	10,933	–	1.02%	–
JBL	New	JABIL CIRCUIT INC.	$1,066,000	–	18,337	–	1.02%	–
TPVG	New	TRIPLE POINT VENTURE GROWTH	$1,066,000	–	70,148	–	1.02%	–
WLKP	New	WESTLAKE CHEMICAL PARTNERS LPunit	$1,055,000	–	39,175	–	1.01%	–
WFG	New	WEST FRASER TIMBER CO	$1,043,000	–	14,549	–	1.00%	–
LUMN	New	LUMEN TECHNOLOGIES	$1,040,000	–	76,544	–	0.99%	–
PII	New	POLARIS INC	$1,034,000	–	7,547	–	0.99%	–
IRM	New	IRON MOUNTAIN INC	$1,012,000	–	23,912	–	0.97%	–
OSK	New	OSHKOSH CORP	$994,000	–	7,977	–	0.95%	–
CB	New	CHUBB LIMITED	$991,000	–	6,238	–	0.95%	–
GTN	New	GRAY TELEVISION INC	$982,000	–	41,963	–	0.94%	–
BX	New	BLACKSTONE GROUP	$977,000	–	10,053	–	0.93%	–
ST	New	SENSATA TECHNOLOGY	$958,000	–	16,521	–	0.91%	–
CE	New	CELANESE CORP	$954,000	–	6,293	–	0.91%	–
JEF	New	JEFFERIES FINANCIAL GROUP	$941,000	–	27,520	–	0.90%	–
KRC	New	KILROY REALTY CORP	$929,000	–	13,340	–	0.89%	–
STRL	New	STERLING CONSTRUCTION	$883,000	–	36,597	–	0.84%	–
RHHBY	New	ROCHE HOLDINGS LIMITEDadr	$847,000	–	18,033	–	0.81%	–
VEC	New	VECTRUS INC	$773,000	–	16,245	–	0.74%	–
KE	New	KIMBALL ELECTRONICS INC	$773,000	–	35,570	–	0.74%	–
IIIN	New	INSTEEL INDUSTRIES INC.	$709,000	–	22,049	–	0.68%	–
CODI	New	COMPASS DIVERSIFIED HOLDINGS	$654,000	–	25,660	–	0.62%	–
CHKP	New	CHECK POINT SOFTWAREord	$646,000	–	5,567	–	0.62%	–
PRGS	New	PROGRESS SOFTWARE CORP	$588,000	–	12,715	–	0.56%	–
AB	New	ALLIANCEBERNSTEIN LPunit	$560,000	–	12,031	–	0.53%	–
AMKR	New	AMKOR TECHNOLOGY INC	$535,000	–	22,590	–	0.51%	–
RCII	New	RENT-A-CENTER INC	$497,000	–	9,362	–	0.47%	–
BCEI	New	BONANZA CREEK ENERGY	$489,000	–	10,399	–	0.47%	–
CBT	New	CABOT CORP	$487,000	–	8,550	–	0.46%	–
GHC	New	GRAHAM HOLDINGS LTDcl b	$472,000	–	745	–	0.45%	–
TGNA	New	TEGNA INC	$421,000	–	22,450	–	0.40%	–
KEY	New	KEYCORP INC	$368,000	–	17,800	–	0.35%	–
GBDC	New	GOLUB CAPITAL BDC	$352,000	–	22,840	–	0.34%	–
SNDR	New	SCHNEIDER NATL INCcl b	$351,000	–	16,125	–	0.34%	–
GMRE	New	GLOBAL MEDICAL REIT INC	$345,000	–	23,356	–	0.33%	–
VSH	New	VISHAY INTERTECHNOLOGY INC	$338,000	–	15,000	–	0.32%	–
SAMG	New	SILVERCREST ASSET MGMT GROUPcl a	$319,000	–	21,194	–	0.30%	–
ITRN	New	ITURAN LOCATION AND CONTROL LTD.	$316,000	–	11,596	–	0.30%	–
MBUU	New	MALIBU BOATS INCcl a	$315,000	–	4,290	–	0.30%	–
GMS	New	GMS INC	$311,000	–	6,459	–	0.30%	–
SANM	New	SANMINA SCI CORP	$308,000	–	7,900	–	0.29%	–
NUE	New	NUCOR CORPORATION	$304,000	–	3,173	–	0.29%	–
STLD	New	STEEL DYNAMICS INC	$280,000	–	4,700	–	0.27%	–
HURC	New	HURCO COMPANIES	$277,000	–	7,900	–	0.26%	–
DMLRY	New	DAIMLER AGadr	$250,000	–	11,200	–	0.24%	–
LKQ	New	LKQ CORP	$246,000	–	4,990	–	0.24%	–
WERN	New	WERNER ENTERPRISES	$245,000	–	5,500	–	0.23%	–
BWA	New	BORG WARNER	$235,000	–	4,850	–	0.22%	–
TPH	New	TRI POINTE HOMES INC	$214,000	–	10,000	–	0.20%	–
STRT	New	STRATEC SECURITY CORP	$205,000	–	4,600	–	0.20%	–

Q4 2019

			Value		Shares		↓ Weighting
CVGI	Exit	COMMERCIAL VEHICLE GROUP INC	$0	–	-12,000	–	-0.08%	–
HBAN	Exit	HUNTINGTON BANCSHARES INC	$0	–	-16,565	–	-0.23%	–
APOG	Exit	APOGEE ENTERPRISES	$0	–	-6,941	–	-0.26%	–
HEP	Exit	HOLLY ENERGY PARTNERSptn	$0	–	-11,705	–	-0.29%	–
KMT	Exit	KENNAMETAL	$0	–	-9,881	–	-0.30%	–
MBUU	Exit	MALIBU BOATS INCcl a	$0	–	-10,544	–	-0.31%	–
CAC	Exit	CAMDEN NATIONAL CORP	$0	–	-7,869	–	-0.33%	–
BC	Exit	BRUNSWICK CORP	$0	–	-6,780	–	-0.34%	–
KALU	Exit	KAISER ALUMINUM CORP	$0	–	-3,725	–	-0.36%	–
CNBKA	Exit	CENTURY BANCORPcl a	$0	–	-4,367	–	-0.37%	–
AMAT	Exit	APPLIED MATLS INC COM	$0	–	-9,526	–	-0.46%	–
BAC	Exit	BANK OF AMERICA CORP	$0	–	-17,012	–	-0.48%	–
WLKP	Exit	WESTLAKE CHEMICAL PARTNERS LPunit	$0	–	-21,645	–	-0.49%	–
LEN	Exit	LENNAR CORP CL Acl a	$0	–	-9,370	–	-0.51%	–
SSNC	Exit	SS AND C TECHNOLOGIES	$0	–	-10,227	–	-0.51%	–
ETN	Exit	EATON CORP	$0	–	-6,542	–	-0.53%	–
CLR	Exit	CONTINENTAL RESOURCES	$0	–	-18,785	–	-0.56%	–
HII	Exit	HUNTINGTON INGALLS INDUSTRIES	$0	–	-2,956	–	-0.61%	–
BWA	Exit	BORG WARNER	$0	–	-17,148	–	-0.61%	–
RTN	Exit	RAYTHEON CO COM	$0	–	-3,279	–	-0.62%	–
GD	Exit	GENERAL DYNAMICS	$0	–	-3,588	–	-0.64%	–
GOOD	Exit	GLADSTONE COMMERCIAL CORP	$0	–	-28,187	–	-0.64%	–
VEC	Exit	VECTRUS INC	$0	–	-19,162	–	-0.76%	–
DEA	Exit	EASTERLY GOVERNMENT PROPERTIES INC	$0	–	-36,716	–	-0.76%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES	$0	–	-9,255	–	-0.80%	–
GS	Exit	GOLDMAN SACHS	$0	–	-4,187	–	-0.84%	–
PVH	Exit	PVH Corp	$0	–	-10,165	–	-0.87%	–
HUBB	Exit	HUBBELL INC	$0	–	-6,881	–	-0.88%	–
SSP	Exit	SCRIPPS EW COcl a	$0	–	-71,027	–	-0.91%	–
TEX	Exit	TEREX CORP	$0	–	-36,470	–	-0.92%	–
MLHR	Exit	HERMAN MILLER	$0	–	-20,589	–	-0.92%	–
CBS	Exit	CBScl b	$0	–	-24,335	–	-0.95%	–
GTN	Exit	GRAY TELEVISION INC	$0	–	-60,609	–	-0.96%	–
ABBV	Exit	ABBVIE INC	$0	–	-13,453	–	-0.99%	–
MUR	Exit	MURPHY OIL CORP	$0	–	-47,040	–	-1.01%	–
CCL	Exit	CARNIVAL CORP.unit	$0	–	-24,710	–	-1.05%	–
BMY	Exit	BRISTOL-MYERS SQUIBB	$0	–	-21,393	–	-1.05%	–
EQNR	Exit	EQUINOR ASAadr	$0	–	-61,136	–	-1.12%	–
AMCX	Exit	AMC NETWORKS INCcl a	$0	–	-23,869	–	-1.14%	–
NUE	Exit	NUCOR CORPORATION	$0	–	-23,296	–	-1.15%	–
PH	Exit	PARKER HANNIFIN	$0	–	-6,758	–	-1.18%	–
LMT	Exit	LOCKHEED MARTIN CORP	$0	–	-3,131	–	-1.18%	–
WCC	Exit	WESCO INTERNATIONAL	$0	–	-25,676	–	-1.19%	–
ST	Exit	SENSATA TECHNOLOGY	$0	–	-25,176	–	-1.22%	–
MAS	Exit	MASCO CORP	$0	–	-30,395	–	-1.23%	–
ICHR	Exit	ICHOR HOLDINGS	$0	–	-53,197	–	-1.25%	–
MS	Exit	MORGAN STANLEY	$0	–	-30,230	–	-1.25%	–
HTGC	Exit	HERCULES CAPITAL INC	$0	–	-96,487	–	-1.25%	–
AYI	Exit	ACUITY BRANDS INC	$0	–	-9,584	–	-1.25%	–
RHHBY	Exit	ROCHE HOLDINGS LIMITEDadr	$0	–	-35,529	–	-1.26%	–
SIVB	Exit	SVB FINANCIAL GROUP	$0	–	-6,274	–	-1.27%	–
DIS	Exit	DISNEY WALT CO COM	$0	–	-10,094	–	-1.28%	–
CVX	Exit	CHEVRON CORP	$0	–	-11,111	–	-1.28%	–
WH	Exit	WYNDHAM HOTELS AND RESORTS INC	$0	–	-25,485	–	-1.28%	–
WFC	Exit	WELLS FARGO AND CO	$0	–	-26,291	–	-1.29%	–
FBHS	Exit	FORTUNE BRANDS HOME AND SECURITY	$0	–	-24,778	–	-1.31%	–
OSK	Exit	OSHKOSH CORP	$0	–	-17,982	–	-1.32%	–
FOXA	Exit	FOX CORPORATION	$0	–	-43,320	–	-1.32%	–
MGA	Exit	MAGNA INTL INC	$0	–	-25,725	–	-1.33%	–
ON	Exit	ON SEMICONDUCTOR CORP	$0	–	-72,262	–	-1.35%	–
GPMT	Exit	GRANITE POINT MORTGAGE TRUST	$0	–	-74,744	–	-1.36%	–
STAG	Exit	STAG INDUSTRIAL	$0	–	-47,547	–	-1.36%	–
KNL	Exit	KNOLL INC	$0	–	-55,505	–	-1.36%	–
RCL	Exit	ROYAL CARIBBEAN CRUISES	$0	–	-12,997	–	-1.36%	–
RDSA	Exit	ROYAL DUTCH SHELL ADSadr a	$0	–	-23,947	–	-1.37%	–
CSCO	Exit	CISCO SYS INC COM	$0	–	-28,624	–	-1.37%	–
KEM	Exit	KEMET CORP.	$0	–	-77,800	–	-1.37%	–
LH	Exit	LABORATORY CORP. OF AMERICA	$0	–	-8,438	–	-1.38%	–
ARW	Exit	ARROW ELECTRS INC COM	$0	–	-19,058	–	-1.38%	–
MHO	Exit	M/I HOMES INC	$0	–	-37,897	–	-1.38%	–
CE	Exit	CELANESE CORP	$0	–	-11,697	–	-1.39%	–
DHI	Exit	D R HORTON INC COM	$0	–	-27,164	–	-1.39%	–
AXE	Exit	ANIXTER INTL	$0	–	-20,734	–	-1.39%	–
CB	Exit	CHUBB LIMITED	$0	–	-8,885	–	-1.39%	–
JPM	Exit	JP MORGAN CHASE AND CO	$0	–	-12,202	–	-1.39%	–
PKG	Exit	PACKAGING CORP OF AMERICA	$0	–	-13,556	–	-1.39%	–
INTC	Exit	INTEL CORP COM	$0	–	-28,030	–	-1.40%	–
MTZ	Exit	MASTEC INC	$0	–	-22,375	–	-1.41%	–
BXMT	Exit	BLACKSTONE MORTGAGE TRUSTcl a	$0	–	-40,638	–	-1.41%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-6,324	–	-1.42%	–
ACRE	Exit	ARES COMMERCIAL REAL ESTATE GROUP	$0	–	-96,275	–	-1.42%	–
USB	Exit	US BANCORP DEL COM	$0	–	-26,506	–	-1.42%	–
ARCC	Exit	ARES CAPITAL CORPORATION	$0	–	-79,132	–	-1.43%	–
SANM	Exit	SANMINA SCI CORP	$0	–	-46,085	–	-1.44%	–
CMCSA	Exit	COMCAST CL Acl a	$0	–	-33,335	–	-1.46%	–
STOR	Exit	STORE CAPITAL CORP	$0	–	-41,367	–	-1.50%	–
TPVG	Exit	TRIPLE POINT VENTURE GROWTH	$0	–	-94,247	–	-1.50%	–
RE	Exit	EVEREST RE	$0	–	-5,853	–	-1.51%	–
KLAC	Exit	KLA-TENCOR CORP COM	$0	–	-9,885	–	-1.53%	–
SNX	Exit	SYNNEX CORP	$0	–	-16,431	–	-1.80%	–
AAPL	Exit	APPLE	$0	–	-12,153	–	-2.64%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC CL Bcl b	$0	–	-13,759	–	-2.78%	–

Q3 2019

			Value		Shares		↓ Weighting
BRKB	Sell	BERKSHIRE HATHAWAY INC CL Bcl b	$2,862,000	-14.3%	13,759	-12.1%	2.78%	-7.5%
AAPL	Sell	APPLE	$2,722,000	+5.4%	12,153	-6.9%	2.64%	+13.8%
SNX	Buy	SYNNEX CORP	$1,855,000	+17.6%	16,431	+2.5%	1.80%	+27.0%
KLAC	Sell	KLA-TENCOR CORP COM	$1,576,000	+12.2%	9,885	-16.9%	1.53%	+21.1%
RE	Sell	EVEREST RE	$1,557,000	-1.3%	5,853	-8.3%	1.51%	+6.5%
TPVG	Sell	TRIPLE POINT VENTURE GROWTH	$1,552,000	-8.0%	94,247	-20.5%	1.50%	-0.7%
STOR	Sell	STORE CAPITAL CORP	$1,548,000	-2.5%	41,367	-13.5%	1.50%	+5.3%
CMCSA	Sell	COMCAST CL Acl a	$1,503,000	-5.8%	33,335	-11.6%	1.46%	+1.7%
SANM	Buy	SANMINA SCI CORP	$1,480,000	+8.7%	46,085	+2.4%	1.44%	+17.2%
ARCC	Sell	ARES CAPITAL CORPORATION	$1,475,000	-13.5%	79,132	-16.8%	1.43%	-6.7%
USB	Sell	US BANCORP DEL COM	$1,467,000	-10.5%	26,506	-15.3%	1.42%	-3.4%
ACRE	Sell	ARES COMMERCIAL REAL ESTATE GROUP	$1,466,000	-13.5%	96,275	-15.6%	1.42%	-6.6%
LRCX	Sell	LAM RESEARCH CORP	$1,462,000	-12.0%	6,324	-28.5%	1.42%	-5.0%
BXMT	Sell	BLACKSTONE MORTGAGE TRUSTcl a	$1,457,000	-9.3%	40,638	-10.0%	1.41%	-2.1%
MTZ	Sell	MASTEC INC	$1,453,000	-9.4%	22,375	-28.1%	1.41%	-2.2%
INTC	Sell	INTEL CORP COM	$1,444,000	+0.4%	28,030	-6.7%	1.40%	+8.4%
PKG	Sell	PACKAGING CORP OF AMERICA	$1,438,000	-1.0%	13,556	-11.1%	1.39%	+6.8%
JPM	Sell	JP MORGAN CHASE AND CO	$1,436,000	-11.6%	12,202	-16.0%	1.39%	-4.5%
CB	Sell	CHUBB LIMITED	$1,434,000	-0.1%	8,885	-8.9%	1.39%	+7.8%
AXE	Sell	ANIXTER INTL	$1,433,000	+3.5%	20,734	-10.5%	1.39%	+11.8%
DHI	Sell	D R HORTON INC COM	$1,432,000	+8.3%	27,164	-11.4%	1.39%	+16.9%
CE	Sell	CELANESE CORP	$1,430,000	-7.4%	11,697	-18.3%	1.39%	0.0%
MHO	Sell	M/I HOMES INC	$1,427,000	+7.8%	37,897	-18.3%	1.38%	+16.4%
ARW	Sell	ARROW ELECTRS INC COM	$1,421,000	-1.8%	19,058	-6.2%	1.38%	+6.0%
LH	Sell	LABORATORY CORP. OF AMERICA	$1,418,000	-16.5%	8,438	-14.1%	1.38%	-9.9%
CSCO	Sell	CISCO SYS INC COM	$1,414,000	-10.3%	28,624	-0.7%	1.37%	-3.2%
KEM	Buy	KEMET CORP.	$1,414,000	+6.3%	77,800	+10.0%	1.37%	+14.7%
RDSA	Buy	ROYAL DUTCH SHELL ADSadr a	$1,409,000	-7.5%	23,947	+2.2%	1.37%	-0.2%
RCL	Sell	ROYAL CARIBBEAN CRUISES	$1,408,000	-16.6%	12,997	-6.7%	1.36%	-10.0%
KNL	Sell	KNOLL INC	$1,407,000	+3.5%	55,505	-6.1%	1.36%	+11.7%
STAG	Buy	STAG INDUSTRIAL	$1,402,000	+34.9%	47,547	+38.4%	1.36%	+45.8%
GPMT	Buy	GRANITE POINT MORTGAGE TRUST	$1,401,000	+211.3%	74,744	+218.8%	1.36%	+236.4%
ON	Sell	ON SEMICONDUCTOR CORP	$1,388,000	-11.4%	72,262	-6.7%	1.35%	-4.3%
MGA	Sell	MAGNA INTL INC	$1,372,000	+0.3%	25,725	-6.5%	1.33%	+8.2%
FOXA	New	FOX CORPORATION	$1,366,000	–	43,320	–	1.32%	–
OSK	Sell	OSHKOSH CORP	$1,363,000	-18.0%	17,982	-9.7%	1.32%	-11.5%
FBHS	Sell	FORTUNE BRANDS HOME AND SECURITY	$1,355,000	-20.6%	24,778	-17.1%	1.31%	-14.3%
WFC	Sell	WELLS FARGO AND CO	$1,326,000	-2.1%	26,291	-8.2%	1.29%	+5.7%
WH	Sell	WYNDHAM HOTELS AND RESORTS INC	$1,319,000	-22.7%	25,485	-16.7%	1.28%	-16.6%
CVX	Sell	CHEVRON CORP	$1,318,000	-9.0%	11,111	-4.6%	1.28%	-1.8%
DIS	Sell	DISNEY WALT CO COM	$1,315,000	-14.2%	10,094	-8.0%	1.28%	-7.3%
SIVB	Sell	SVB FINANCIAL GROUP	$1,311,000	-12.4%	6,274	-5.9%	1.27%	-5.5%
RHHBY	Sell	ROCHE HOLDINGS LIMITEDadr	$1,295,000	-0.1%	35,529	-3.8%	1.26%	+7.9%
AYI	Sell	ACUITY BRANDS INC	$1,292,000	-9.8%	9,584	-7.7%	1.25%	-2.6%
MS	Buy	MORGAN STANLEY	$1,290,000	+1.3%	30,230	+4.1%	1.25%	+9.4%
HTGC	Sell	HERCULES CAPITAL INC	$1,290,000	-0.3%	96,487	-4.4%	1.25%	+7.7%
ICHR	Sell	ICHOR HOLDINGS	$1,286,000	-6.5%	53,197	-8.5%	1.25%	+1.0%
MAS	Sell	MASCO CORP	$1,267,000	-7.4%	30,395	-12.8%	1.23%	0.0%
ST	Sell	SENSATA TECHNOLOGY	$1,260,000	-21.0%	25,176	-22.6%	1.22%	-14.7%
WCC	Buy	WESCO INTERNATIONAL	$1,227,000	+0.3%	25,676	+6.4%	1.19%	+8.3%
PH	Sell	PARKER HANNIFIN	$1,221,000	+1.5%	6,758	-4.5%	1.18%	+9.5%
LMT	Sell	LOCKHEED MARTIN CORP	$1,221,000	-6.6%	3,131	-12.9%	1.18%	+0.9%
NUE	Sell	NUCOR CORPORATION	$1,186,000	-14.1%	23,296	-7.0%	1.15%	-7.3%
AMCX	Sell	AMC NETWORKS INCcl a	$1,173,000	-16.3%	23,869	-7.2%	1.14%	-9.6%
EQNR	Sell	EQUINOR ASAadr	$1,159,000	-10.6%	61,136	-6.7%	1.12%	-3.4%
BMY	Sell	BRISTOL-MYERS SQUIBB	$1,085,000	-14.0%	21,393	-23.1%	1.05%	-7.2%
CCL	Sell	CARNIVAL CORP.unit	$1,080,000	-12.1%	24,710	-6.4%	1.05%	-5.2%
MUR	Sell	MURPHY OIL CORP	$1,040,000	-15.4%	47,040	-5.6%	1.01%	-8.6%
ABBV	Sell	ABBVIE INC	$1,019,000	+1.1%	13,453	-2.9%	0.99%	+9.1%
GTN	Sell	GRAY TELEVISION INC	$989,000	-1.9%	60,609	-1.4%	0.96%	+5.8%
CBS	Sell	CBScl b	$982,000	-22.1%	24,335	-3.6%	0.95%	-15.9%
MLHR	Sell	HERMAN MILLER	$949,000	-0.5%	20,589	-3.5%	0.92%	+7.4%
TEX	Sell	TEREX CORP	$947,000	-20.3%	36,470	-3.6%	0.92%	-14.0%
SSP	Buy	SCRIPPS EW COcl a	$943,000	+1.8%	71,027	+17.3%	0.91%	+9.9%
HUBB	Sell	HUBBELL INC	$904,000	-4.1%	6,881	-4.8%	0.88%	+3.5%
PVH	Sell	PVH Corp	$897,000	-28.2%	10,165	-23.0%	0.87%	-22.5%
GS	Sell	GOLDMAN SACHS	$868,000	-40.6%	4,187	-41.4%	0.84%	-35.9%
LYB	Sell	LYONDELLBASELL INDUSTRIES	$828,000	-24.5%	9,255	-27.3%	0.80%	-18.5%
DEA	Buy	EASTERLY GOVERNMENT PROPERTIES INC	$782,000	+52.4%	36,716	+29.5%	0.76%	+64.4%
VEC	New	VECTRUS INC	$779,000	–	19,162	–	0.76%	–
GOOD	Buy	GLADSTONE COMMERCIAL CORP	$662,000	+56.5%	28,187	+41.3%	0.64%	+68.9%
GD	Sell	GENERAL DYNAMICS	$656,000	-5.3%	3,588	-5.8%	0.64%	+2.1%
RTN	Sell	RAYTHEON CO COM	$643,000	+8.2%	3,279	-4.0%	0.62%	+16.9%
BWA	Sell	BORG WARNER	$629,000	-16.0%	17,148	-3.9%	0.61%	-9.4%
HII	New	HUNTINGTON INGALLS INDUSTRIES	$626,000	–	2,956	–	0.61%	–
CLR	Sell	CONTINENTAL RESOURCES	$578,000	-33.9%	18,785	-9.5%	0.56%	-28.5%
ETN	Sell	EATON CORP	$544,000	-8.6%	6,542	-8.4%	0.53%	-1.1%
SSNC	Sell	SS AND C TECHNOLOGIES	$527,000	-18.5%	10,227	-8.9%	0.51%	-12.0%
LEN	Sell	LENNAR CORP CL Acl a	$523,000	+6.1%	9,370	-8.0%	0.51%	+14.4%
WLKP	New	WESTLAKE CHEMICAL PARTNERS LPunit	$503,000	–	21,645	–	0.49%	–
BAC	Sell	BANK OF AMERICA CORP	$496,000	-15.2%	17,012	-15.7%	0.48%	-8.6%
AMAT	Sell	APPLIED MATLS INC COM	$475,000	-11.0%	9,526	-19.8%	0.46%	-4.0%
CNBKA	Sell	CENTURY BANCORPcl a	$383,000	-45.4%	4,367	-45.3%	0.37%	-41.1%
KALU	New	KAISER ALUMINUM CORP	$369,000	–	3,725	–	0.36%	–
BC	Sell	BRUNSWICK CORP	$353,000	-9.3%	6,780	-20.0%	0.34%	-2.0%
CAC	Sell	CAMDEN NATIONAL CORP	$341,000	-10.5%	7,869	-5.2%	0.33%	-3.2%
MBUU	New	MALIBU BOATS INCcl a	$323,000	–	10,544	–	0.31%	–
HEP	New	HOLLY ENERGY PARTNERSptn	$296,000	–	11,705	–	0.29%	–
APOG	Sell	APOGEE ENTERPRISES	$271,000	-46.5%	6,941	-40.5%	0.26%	-42.2%
HBAN	Sell	HUNTINGTON BANCSHARES INC	$236,000	-55.2%	16,565	-56.6%	0.23%	-51.6%
SRCI	Exit	SRC ENERGY INC	$0	–	-17,300	–	-0.08%	–
CAMT	Exit	CAMTEKord	$0	–	-13,023	–	-0.10%	–
DLX	Exit	DELUXE CORP.	$0	–	-5,221	–	-0.19%	–
NBL	Exit	NOBLE ENERGY	$0	–	-17,531	–	-0.35%	–
BDC	Exit	BELDEN CDT	$0	–	-8,737	–	-0.47%	–
FDX	Exit	FEDEX CORP	$0	–	-7,158	–	-1.06%	–
MTB	Exit	M AND T BANK CORP	$0	–	-7,393	–	-1.13%	–
TSN	Exit	TYSON FOODScl a	$0	–	-19,023	–	-1.38%	–

Q2 2019

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC CL Bcl b	$3,338,000	–	15,657	–	3.00%	–
AAPL	New	APPLE	$2,583,000	–	13,050	–	2.32%	–
WH	New	WYNDHAM HOTELS AND RESORTS INC	$1,706,000	–	30,602	–	1.53%	–
ARCC	New	ARES CAPITAL CORPORATION	$1,706,000	–	95,089	–	1.53%	–
FBHS	New	FORTUNE BRANDS HOME AND SECURITY	$1,707,000	–	29,873	–	1.53%	–
LH	New	LABORATORY CORP. OF AMERICA	$1,699,000	–	9,828	–	1.53%	–
ACRE	New	ARES COMMERCIAL REAL ESTATE GROUP	$1,695,000	–	114,046	–	1.52%	–
RCL	New	ROYAL CARIBBEAN CRUISEScl a	$1,689,000	–	13,931	–	1.52%	–
TPVG	New	TRIPLE POINT VENTURE GROWTH	$1,687,000	–	118,541	–	1.52%	–
OSK	New	OSHKOSH CORP	$1,662,000	–	19,903	–	1.49%	–
LRCX	New	LAM RESEARCH CORP	$1,661,000	–	8,841	–	1.49%	–
USB	New	US BANCORP DEL COM	$1,640,000	–	31,304	–	1.47%	–
JPM	New	JP MORGAN CHASE AND CO	$1,624,000	–	14,529	–	1.46%	–
BXMT	New	BLACKSTONE MORTGAGE TRUSTcl a	$1,607,000	–	45,163	–	1.44%	–
MTZ	New	MASTEC INC	$1,603,000	–	31,103	–	1.44%	–
CMCSA	New	COMCAST CL Acl a	$1,595,000	–	37,725	–	1.43%	–
ST	New	SENSATA TECHNOLOGY	$1,594,000	–	32,531	–	1.43%	–
STOR	New	STORE CAPITAL CORP	$1,587,000	–	47,818	–	1.43%	–
RE	New	EVEREST RE	$1,578,000	–	6,383	–	1.42%	–
SNX	New	SYNNEX CORP	$1,577,000	–	16,025	–	1.42%	–
CSCO	New	CISCO SYS INC COM	$1,577,000	–	28,817	–	1.42%	–
ON	New	ON SEMICONDUCTOR CORP	$1,566,000	–	77,490	–	1.41%	–
CE	New	CELANESE CORP	$1,544,000	–	14,322	–	1.39%	–
TSN	New	TYSON FOODScl a	$1,536,000	–	19,023	–	1.38%	–
DIS	New	DISNEY WALT CO COM	$1,532,000	–	10,969	–	1.38%	–
RDSA	New	ROYAL DUTCH SHELL ADSadr	$1,524,000	–	23,421	–	1.37%	–
SIVB	New	SVB FINANCIAL GROUP	$1,497,000	–	6,666	–	1.34%	–
GS	New	GOLDMAN SACHS	$1,462,000	–	7,146	–	1.31%	–
PKG	New	PACKAGING CORP OF AMERICA	$1,453,000	–	15,245	–	1.30%	–
CVX	New	CHEVRON CORP	$1,449,000	–	11,641	–	1.30%	–
ARW	New	ARROW ELECTRS INC COM	$1,447,000	–	20,309	–	1.30%	–
INTC	New	INTEL CORP COM	$1,438,000	–	30,038	–	1.29%	–
CB	New	CHUBB LIMITED	$1,436,000	–	9,750	–	1.29%	–
AYI	New	ACUITY BRANDS INC	$1,432,000	–	10,380	–	1.29%	–
KLAC	New	KLA-TENCOR CORP COM	$1,405,000	–	11,889	–	1.26%	–
AMCX	New	AMC NETWORKS INCcl a	$1,402,000	–	25,726	–	1.26%	–
AXE	New	ANIXTER INTL	$1,384,000	–	23,177	–	1.24%	–
NUE	New	NUCOR CORPORATION	$1,381,000	–	25,057	–	1.24%	–
ICHR	New	ICHOR HOLDINGS	$1,375,000	–	58,144	–	1.24%	–
MGA	New	MAGNA INTL INC	$1,368,000	–	27,526	–	1.23%	–
MAS	New	MASCO CORP	$1,368,000	–	34,872	–	1.23%	–
SANM	New	SANMINA SCI CORP	$1,362,000	–	44,992	–	1.22%	–
KNL	New	KNOLL INC	$1,359,000	–	59,122	–	1.22%	–
WFC	New	WELLS FARGO AND CO	$1,355,000	–	28,640	–	1.22%	–
KEM	New	KEMET CORP.	$1,330,000	–	70,730	–	1.20%	–
MHO	New	M/I HOMES INC	$1,324,000	–	46,388	–	1.19%	–
DHI	New	D R HORTON INC COM	$1,322,000	–	30,649	–	1.19%	–
LMT	New	LOCKHEED MARTIN CORP	$1,307,000	–	3,596	–	1.17%	–
RHHBY	New	ROCHE HOLDINGS LIMITEDadr	$1,296,000	–	36,935	–	1.16%	–
EQNR	New	EQUINOR ASAadr	$1,296,000	–	65,499	–	1.16%	–
HTGC	New	HERCULES CAPITAL INC	$1,294,000	–	100,949	–	1.16%	–
MS	New	MORGAN STANLEY	$1,273,000	–	29,052	–	1.14%	–
BMY	New	BRISTOL-MYERS SQUIBB	$1,262,000	–	27,836	–	1.13%	–
CBS	New	CBScl b	$1,260,000	–	25,255	–	1.13%	–
MTB	New	M AND T BANK CORP	$1,257,000	–	7,393	–	1.13%	–
PVH	New	PVH Corp	$1,249,000	–	13,201	–	1.12%	–
CCL	New	CARNIVAL CORP.unit	$1,229,000	–	26,406	–	1.10%	–
MUR	New	MURPHY OIL CORP	$1,229,000	–	49,840	–	1.10%	–
WCC	New	WESCO INTERNATIONAL	$1,223,000	–	24,140	–	1.10%	–
PH	New	PARKER HANNIFIN	$1,203,000	–	7,077	–	1.08%	–
TEX	New	TEREX CORPcl a	$1,188,000	–	37,820	–	1.07%	–
FDX	New	FEDEX CORP	$1,175,000	–	7,158	–	1.06%	–
LYB	New	LYONDELLBASELL INDUSTRIES	$1,097,000	–	12,738	–	0.98%	–
STAG	New	STAG INDUSTRIAL	$1,039,000	–	34,360	–	0.93%	–
GTN	New	GRAY TELEVISION INC	$1,008,000	–	61,473	–	0.91%	–
ABBV	New	ABBVIE INC	$1,008,000	–	13,861	–	0.91%	–
MLHR	New	HERMAN MILLER	$954,000	–	21,346	–	0.86%	–
HUBB	New	HUBBELL INC	$943,000	–	7,230	–	0.85%	–
SSP	New	SCRIPPS EW COcl a	$926,000	–	60,549	–	0.83%	–
CLR	New	CONTINENTAL RESOURCES	$874,000	–	20,761	–	0.78%	–
BWA	New	BORG WARNER	$749,000	–	17,843	–	0.67%	–
CNBKA	New	CENTURY BANCORPcl a	$701,000	–	7,980	–	0.63%	–
GD	New	GENERAL DYNAMICS	$693,000	–	3,810	–	0.62%	–
SSNC	New	SS AND C TECHNOLOGIES	$647,000	–	11,229	–	0.58%	–
RTN	New	RAYTHEON CO COM	$594,000	–	3,417	–	0.53%	–
ETN	New	EATON CORP	$595,000	–	7,142	–	0.53%	–
BAC	New	BANK OF AMERICA CORP	$585,000	–	20,182	–	0.53%	–
AMAT	New	APPLIED MATLS INC COM	$534,000	–	11,882	–	0.48%	–
HBAN	New	HUNTINGTON BANCSHARES INC	$527,000	–	38,130	–	0.47%	–
BDC	New	BELDEN CDT	$520,000	–	8,737	–	0.47%	–
DEA	New	EASTERLY GOVERNMENT PROPERTIES INC	$513,000	–	28,346	–	0.46%	–
APOG	New	APOGEE ENTERPRISES	$507,000	–	11,666	–	0.46%	–
LEN	New	LENNAR CORP CL Acl a	$493,000	–	10,180	–	0.44%	–
GPMT	New	GRANITE POINT MORTGAGE TRUST	$450,000	–	23,445	–	0.40%	–
GOOD	New	GLADSTONE COMMERCIAL CORP	$423,000	–	19,948	–	0.38%	–
NBL	New	NOBLE ENERGY	$393,000	–	17,531	–	0.35%	–
BC	New	BRUNSWICK CORP	$389,000	–	8,480	–	0.35%	–
CAC	New	CAMDEN NATIONAL CORP	$381,000	–	8,299	–	0.34%	–
KMT	New	KENNAMETAL	$365,000	–	9,881	–	0.33%	–
DLX	New	DELUXE CORP.	$212,000	–	5,221	–	0.19%	–
CAMT	New	CAMTEKord	$110,000	–	13,023	–	0.10%	–
CVGI	New	COMMERCIAL VEHICLE GROUP INC	$96,000	–	12,000	–	0.09%	–
SRCI	New	SRC ENERGY INC	$86,000	–	17,300	–	0.08%	–

Q4 2018

			Value		Shares		↓ Weighting
CVGI	Exit	COMMERCIAL VEHICLE GROUP INC	$0	–	-12,000	–	-0.07%	–
ARRS	Exit	ARRIS INTERNATIONAL	$0	–	-8,410	–	-0.14%	–
MBIN	Exit	MERCHANTS BANCORP	$0	–	-10,881	–	-0.18%	–
WNC	Exit	WABASH NATIONAL	$0	–	-26,815	–	-0.31%	–
TOWR	Exit	TOWER INTERNATIONAL	$0	–	-17,307	–	-0.34%	–
NUE	Exit	NUCOR CORPORATION	$0	–	-8,840	–	-0.36%	–
CNBKA	Exit	CENTURY BANCORPcl a	$0	–	-8,970	–	-0.42%	–
SPB	Exit	SPECTRUM BRANDS INC	$0	–	-9,224	–	-0.44%	–
IPG	Exit	INTERPUBLIC GROUP	$0	–	-31,078	–	-0.46%	–
ACM	Exit	AECOM TECH CORP.	$0	–	-23,045	–	-0.48%	–
UCTT	Exit	ULTRA CLEAN HOLDINGS	$0	–	-68,839	–	-0.56%	–
COHU	Exit	COHU INC COM	$0	–	-34,581	–	-0.56%	–
BWA	Exit	BORG WARNER	$0	–	-21,948	–	-0.60%	–
PVH	Exit	PVH Corpadr	$0	–	-7,462	–	-0.69%	–
HOFT	Exit	HOOKER FURNITURE CORP	$0	–	-34,266	–	-0.74%	–
OSK	Exit	OSHKOSH CORP	$0	–	-16,319	–	-0.75%	–
TEN	Exit	TENNECO INC	$0	–	-29,045	–	-0.79%	–
HTGC	Exit	HERCULES CAPITAL INC	$0	–	-98,097	–	-0.83%	–
TSEM	Exit	TOWER SEMICONDUCTOR ORD	$0	–	-60,968	–	-0.85%	–
SNX	Exit	SYNNEX CORP	$0	–	-16,030	–	-0.87%	–
AMAT	Exit	APPLIED MATLS INC COM	$0	–	-35,655	–	-0.88%	–
ICHR	Exit	ICHOR HOLDINGS	$0	–	-75,670	–	-0.99%	–
WPP	Exit	WPP PLCadr	$0	–	-21,354	–	-1.00%	–
BAC	Exit	BANK OF AMERICA CORP	$0	–	-53,510	–	-1.01%	–
UNM	Exit	UNUM GROUP	$0	–	-41,015	–	-1.03%	–
BAESY	Exit	BAE SYSTEMS PLCplc	$0	–	-48,963	–	-1.04%	–
PPC	Exit	PILGRIMS PRIDE CORP	$0	–	-91,919	–	-1.07%	–
THO	Exit	THOR INDUSTRIES INC	$0	–	-19,988	–	-1.07%	–
GPORQ	Exit	GULFPORT ENERGY CORP	$0	–	-161,779	–	-1.08%	–
ABBV	Exit	ABBVIE INC	$0	–	-17,929	–	-1.09%	–
DDAIF	Exit	DAIMLER AGadr	$0	–	-26,943	–	-1.09%	–
HCRSQ	Exit	HI CRUSH PARTNERS LP	$0	–	-157,677	–	-1.09%	–
SWKS	Exit	SKYWORKS SOLUTIONS	$0	–	-18,798	–	-1.10%	–
MGA	Exit	MAGNA INTL INC	$0	–	-32,863	–	-1.11%	–
MHO	Exit	M/I HOMES INC	$0	–	-72,524	–	-1.11%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES	$0	–	-17,041	–	-1.12%	–
ST	Exit	SENSATA TECHNOLOGY	$0	–	-35,757	–	-1.14%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-11,934	–	-1.16%	–
APOG	Exit	APOGEE ENTERPRISES	$0	–	-43,837	–	-1.16%	–
RHHBY	Exit	ROCHE HOLDINGS LIMITEDadr	$0	–	-60,058	–	-1.16%	–
DOX	Exit	AMDOCS LTD.	$0	–	-27,982	–	-1.19%	–
PKG	Exit	PACKAGING CORP OF AMERICA	$0	–	-17,033	–	-1.20%	–
SBGI	Exit	SINCLAIR BROADCASTING GROUPcl a	$0	–	-66,042	–	-1.20%	–
DLX	Exit	DELUXE CORP.	$0	–	-33,065	–	-1.21%	–
LEN	Exit	LENNAR CORP CL Acl a	$0	–	-40,520	–	-1.22%	–
HBAN	Exit	HUNTINGTON BANCSHARES INC	$0	–	-127,085	–	-1.22%	–
STAG	Exit	STAG INDUSTRIAL	$0	–	-69,082	–	-1.22%	–
TSN	Exit	TYSON FOODScl a	$0	–	-32,051	–	-1.22%	–
WFC	Exit	WELLS FARGO AND CO	$0	–	-37,916	–	-1.28%	–
ON	Exit	ON SEMICONDUCTOR CORP	$0	–	-108,406	–	-1.28%	–
CBS	Exit	CBScl b	$0	–	-34,931	–	-1.29%	–
AXE	Exit	ANIXTER INTL	$0	–	-28,950	–	-1.31%	–
CCL	Exit	CARNIVAL CORP.unit	$0	–	-32,290	–	-1.32%	–
GS	Exit	GOLDMAN SACHS	$0	–	-9,241	–	-1.33%	–
NBL	Exit	NOBLE ENERGY	$0	–	-66,610	–	-1.34%	–
MUR	Exit	MURPHY OIL CORP	$0	–	-62,602	–	-1.34%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-30,933	–	-1.35%	–
KNL	Exit	KNOLL INC	$0	–	-90,116	–	-1.36%	–
ARW	Exit	ARROW ELECTRS INC COM	$0	–	-28,706	–	-1.36%	–
WLL	Exit	WHITING PETROLEUM	$0	–	-40,516	–	-1.38%	–
PFG	Exit	PRINCIPAL FINANCIAL GROUP	$0	–	-36,870	–	-1.39%	–
CE	Exit	CELANESE CORP	$0	–	-18,973	–	-1.39%	–
INTC	Exit	INTEL CORP COM	$0	–	-45,967	–	-1.40%	–
FDX	Exit	FEDEX CORP	$0	–	-9,029	–	-1.40%	–
RE	Exit	EVEREST RE	$0	–	-9,519	–	-1.40%	–
CB	Exit	CHUBB LIMITED	$0	–	-16,458	–	-1.41%	–
DXC	Exit	DXC TECHNOLOGY COMPANY	$0	–	-23,591	–	-1.42%	–
TPVG	Exit	TRIPLE POINT VENTURE GROWTH	$0	–	-162,783	–	-1.42%	–
EQNR	Exit	EQUINOR ASA	$0	–	-78,581	–	-1.42%	–
BXMT	Exit	BLACKSTONE MORTGAGE TRUSTcl a	$0	–	-66,130	–	-1.42%	–
DHI	Exit	D R HORTON INC COM	$0	–	-52,782	–	-1.43%	–
CMCSA	Exit	COMCAST CL Acl a	$0	–	-63,119	–	-1.44%	–
LH	Exit	LABORATORY CORP. OF AMERICA	$0	–	-13,139	–	-1.47%	–
AMCX	Exit	AMC NETWORKS INCcl a	$0	–	-34,399	–	-1.47%	–
JPM	Exit	JP MORGAN CHASE AND CO	$0	–	-20,332	–	-1.47%	–
USB	Exit	US BANCORP DEL COM	$0	–	-43,908	–	-1.49%	–
STOR	Exit	STORE CAPITAL CORP	$0	–	-83,663	–	-1.49%	–
ARCC	Exit	ARES CAPITAL CORPORATION	$0	–	-135,609	–	-1.50%	–
BDC	Exit	BELDEN CDT	$0	–	-32,700	–	-1.50%	–
DIS	Exit	DISNEY WALT CO COM	$0	–	-20,023	–	-1.50%	–
SSP	Exit	SCRIPPS EW COcl a	$0	–	-143,741	–	-1.52%	–
ACRE	Exit	ARES COMMERCIAL REAL ESTATE GROUP	$0	–	-169,870	–	-1.52%	–
GTN	Exit	GRAY TELEVISION INC	$0	–	-142,838	–	-1.61%	–
RCL	Exit	ROYAL CARIBBEAN CRUISES	$0	–	-20,190	–	-1.68%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC CL Bcl b	$0	–	-23,639	–	-3.25%	–
AAPL	Exit	APPLE	$0	–	-27,824	–	-4.03%	–

Q3 2018

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE	$6,281,000	+14.6%	27,824	-3.4%	4.03%	+19.4%
BRKB	Sell	BERKSHIRE HATHAWAY INC CL Bcl b	$5,061,000	+5.2%	23,639	-2.8%	3.25%	+9.5%
RCL	Sell	ROYAL CARIBBEAN CRUISES	$2,623,000	+10.4%	20,190	-4.1%	1.68%	+15.0%
GTN	Sell	GRAY TELEVISION INC	$2,500,000	+9.1%	142,838	-3.7%	1.61%	+13.7%
ACRE	Sell	ARES COMMERCIAL REAL ESTATE GROUP	$2,373,000	-6.2%	169,870	-5.2%	1.52%	-2.3%
SSP	Sell	SCRIPPS EW COcl a	$2,372,000	+23.3%	143,741	-2.1%	1.52%	+28.3%
DIS	Sell	DISNEY WALT CO COM	$2,341,000	-0.5%	20,023	-3.3%	1.50%	+3.7%
BDC	Sell	BELDEN CDT	$2,335,000	+6.0%	32,700	-3.9%	1.50%	+10.5%
ARCC	Sell	ARES CAPITAL CORPORATION	$2,331,000	-0.3%	135,609	-2.3%	1.50%	+3.8%
STOR	Sell	STORE CAPITAL CORP	$2,325,000	-10.3%	83,663	-11.4%	1.49%	-6.6%
USB	Sell	US BANCORP DEL COM	$2,319,000	-3.6%	43,908	-3.3%	1.49%	+0.3%
JPM	Sell	JP MORGAN CHASE AND CO	$2,294,000	-5.9%	20,332	-4.2%	1.47%	-2.1%
AMCX	Sell	AMC NETWORKS INCcl a	$2,282,000	+9.2%	34,399	-0.7%	1.47%	+13.8%
LH	Sell	LABORATORY CORP. OF AMERICA	$2,282,000	-5.5%	13,139	-4.6%	1.47%	-1.5%
CMCSA	Sell	COMCAST CL Acl a	$2,235,000	-12.2%	63,119	-11.3%	1.44%	-8.6%
DHI	Sell	D R HORTON INC COM	$2,226,000	-6.4%	52,782	-3.0%	1.43%	-2.5%
BXMT	Sell	BLACKSTONE MORTGAGE TRUSTcl a	$2,216,000	-1.7%	66,130	-2.8%	1.42%	+2.3%
EQNR	Sell	EQUINOR ASA	$2,216,000	+3.6%	78,581	-2.8%	1.42%	+7.8%
TPVG	Sell	TRIPLE POINT VENTURE GROWTH	$2,212,000	-5.1%	162,783	-4.6%	1.42%	-1.2%
DXC	Sell	DXC TECHNOLOGY COMPANY	$2,206,000	+7.0%	23,591	-3.0%	1.42%	+11.5%
CB	Sell	CHUBB LIMITED	$2,199,000	-8.0%	16,458	-3.7%	1.41%	-4.1%
RE	Sell	EVEREST RE	$2,175,000	+2.8%	9,519	-1.7%	1.40%	+7.1%
FDX	Sell	FEDEX CORP	$2,174,000	-5.9%	9,029	-3.9%	1.40%	-2.0%
INTC	Sell	INTEL CORP COM	$2,174,000	-4.4%	45,967	-2.8%	1.40%	-0.4%
CE	Sell	CELANESE CORP	$2,163,000	-12.3%	18,973	-9.1%	1.39%	-8.7%
PFG	Sell	PRINCIPAL FINANCIAL GROUP	$2,160,000	-0.7%	36,870	-1.5%	1.39%	+3.4%
WLL	Sell	WHITING PETROLEUM	$2,149,000	+4.1%	40,516	-2.5%	1.38%	+8.4%
ARW	Sell	ARROW ELECTRS INC COM	$2,116,000	-5.3%	28,706	-2.6%	1.36%	-1.4%
KNL	Buy	KNOLL INC	$2,113,000	+5.4%	90,116	+1.4%	1.36%	+9.8%
OMC	Sell	OMNICOM GROUP INC	$2,104,000	-3.6%	30,933	-2.4%	1.35%	+0.4%
MUR	Sell	MURPHY OIL CORP	$2,087,000	-2.5%	62,602	-2.7%	1.34%	+1.5%
NBL	Sell	NOBLE ENERGY	$2,078,000	-15.9%	66,610	-2.7%	1.34%	-12.4%
GS	Sell	GOLDMAN SACHS	$2,072,000	-8.0%	9,241	-2.6%	1.33%	-4.2%
CCL	Sell	CARNIVAL CORP.unit	$2,059,000	+4.8%	32,290	-2.7%	1.32%	+9.1%
AXE	Sell	ANIXTER INTL	$2,035,000	-5.9%	28,950	-2.4%	1.31%	-2.0%
CBS	Sell	CBScl b	$2,007,000	+5.5%	34,931	-3.3%	1.29%	+9.8%
ON	Buy	ON SEMICONDUCTOR CORP	$1,998,000	-7.8%	108,406	+10.3%	1.28%	-4.0%
WFC	Sell	WELLS FARGO AND CO	$1,993,000	-10.7%	37,916	-2.7%	1.28%	-7.0%
TSN	Sell	TYSON FOODScl a	$1,908,000	+0.6%	32,051	-2.6%	1.22%	+4.8%
STAG	Sell	STAG INDUSTRIAL	$1,900,000	-1.6%	69,082	-2.2%	1.22%	+2.5%
HBAN	New	HUNTINGTON BANCSHARES INC	$1,896,000	–	127,085	–	1.22%	–
LEN	Buy	LENNAR CORP CL Acl a	$1,892,000	-10.4%	40,520	+0.3%	1.22%	-6.7%
DLX	Sell	DELUXE CORP.	$1,883,000	-4.8%	33,065	-1.4%	1.21%	-0.8%
SBGI	Sell	SINCLAIR BROADCASTING GROUPcl a	$1,872,000	-7.2%	66,042	-15.5%	1.20%	-3.4%
PKG	New	PACKAGING CORP OF AMERICA	$1,868,000	–	17,033	–	1.20%	–
DOX	Sell	AMDOCS LTD.	$1,846,000	-19.1%	27,982	-17.1%	1.19%	-15.7%
APOG	Sell	APOGEE ENTERPRISES	$1,811,000	-25.6%	43,837	-8.6%	1.16%	-22.6%
RHHBY	Sell	ROCHE HOLDINGS LIMITEDadr	$1,811,000	-11.8%	60,058	-10.3%	1.16%	-8.2%
LRCX	Sell	LAM RESEARCH CORP	$1,810,000	-22.0%	11,934	-2.0%	1.16%	-18.8%
ST	Sell	SENSATA TECHNOLOGY	$1,772,000	-13.1%	35,757	-4.7%	1.14%	-9.5%
LYB	Sell	LYONDELLBASELL INDUSTRIES	$1,747,000	-10.0%	17,041	-2.7%	1.12%	-6.3%
MHO	Sell	M/I HOMES INC	$1,735,000	-8.5%	72,524	-1.1%	1.11%	-4.8%
MGA	Sell	MAGNA INTL INC	$1,726,000	-15.8%	32,863	-2.6%	1.11%	-12.3%
SWKS	Sell	SKYWORKS SOLUTIONS	$1,705,000	-4.9%	18,798	-0.8%	1.10%	-0.9%
HCRSQ	Sell	HI CRUSH PARTNERS LP	$1,703,000	-36.8%	157,677	-10.8%	1.09%	-34.2%
DDAIF	Sell	DAIMLER AGadr	$1,698,000	-11.5%	26,943	-2.8%	1.09%	-7.9%
ABBV	Sell	ABBVIE INC	$1,696,000	-0.7%	17,929	-3.2%	1.09%	+3.4%
GPORQ	Buy	GULFPORT ENERGY CORP	$1,684,000	-8.5%	161,779	+1.1%	1.08%	-4.8%
THO	Sell	THOR INDUSTRIES INC	$1,673,000	-13.0%	19,988	-1.4%	1.07%	-9.4%
PPC	Sell	PILGRIMS PRIDE CORP	$1,663,000	-0.2%	91,919	-1.7%	1.07%	+3.9%
BAESY	Sell	BAE SYSTEMS PLCplc	$1,611,000	-7.7%	48,963	-2.5%	1.04%	-3.8%
UNM	Sell	UNUM GROUP	$1,602,000	-18.1%	41,015	-16.8%	1.03%	-14.7%
BAC	Buy	BANK OF AMERICA CORP	$1,576,000	+456.9%	53,510	+484.8%	1.01%	+478.3%
WPP	Sell	WPP PLCadr	$1,565,000	-8.2%	21,354	-1.8%	1.00%	-4.4%
ICHR	Sell	ICHOR HOLDINGS	$1,545,000	-5.3%	75,670	-2.6%	0.99%	-1.4%
AMAT	Sell	APPLIED MATLS INC COM	$1,378,000	-34.3%	35,655	-17.4%	0.88%	-31.6%
SNX	Sell	SYNNEX CORP	$1,358,000	-12.6%	16,030	-0.4%	0.87%	-9.0%
TSEM	Sell	TOWER SEMICONDUCTOR ORD	$1,327,000	+2.0%	60,968	-3.2%	0.85%	+6.2%
HTGC	Buy	HERCULES CAPITAL INC	$1,291,000	+214.1%	98,097	+222.5%	0.83%	+227.7%
TEN	Sell	TENNECO INC	$1,224,000	-24.3%	29,045	-17.2%	0.79%	-21.2%
OSK	New	OSHKOSH CORP	$1,163,000	–	16,319	–	0.75%	–
HOFT	Sell	HOOKER FURNITURE CORP	$1,158,000	-26.8%	34,266	-2.4%	0.74%	-23.8%
PVH	Sell	PVH Corpadr	$1,078,000	-10.1%	7,462	-4.4%	0.69%	-6.4%
BWA	Sell	BORG WARNER	$939,000	-11.0%	21,948	-4.2%	0.60%	-7.4%
COHU	Sell	COHU INC COM	$868,000	-16.7%	34,581	-16.4%	0.56%	-13.4%
UCTT	Sell	ULTRA CLEAN HOLDINGS	$864,000	-24.1%	68,839	-18.8%	0.56%	-20.9%
ACM	Sell	AECOM TECH CORP.	$753,000	-6.7%	23,045	-4.2%	0.48%	-2.8%
IPG	Buy	INTERPUBLIC GROUP	$711,000	+1.9%	31,078	+0.4%	0.46%	+6.3%
SPB	Sell	SPECTRUM BRANDS INC	$689,000	-36.5%	9,224	-25.7%	0.44%	-33.9%
CNBKA	Sell	CENTURY BANCORPcl a	$648,000	-12.4%	8,970	-6.2%	0.42%	-8.8%
NUE	New	NUCOR CORPORATION	$561,000	–	8,840	–	0.36%	–
TOWR	Sell	TOWER INTERNATIONAL	$524,000	-21.8%	17,307	-16.6%	0.34%	-18.4%
WNC	Buy	WABASH NATIONAL	$489,000	+5.6%	26,815	+14.7%	0.31%	+9.8%
MBIN	Sell	MERCHANTS BANCORP	$277,000	-4.8%	10,881	-8.4%	0.18%	-0.6%
CVGI	New	COMMERCIAL VEHICLE GROUP INC	$110,000	–	12,000	–	0.07%	–
SRCI	Exit	SRC ENERGY INC	$0	–	-11,300	–	-0.08%	–
KLAC	Exit	KLA-TENCOR CORP COM	$0	–	-2,669	–	-0.19%	–
OVLY	Exit	OAK VALLEY BANCORP	$0	–	-17,006	–	-0.23%	–
UNTCQ	Exit	UNIT CORP	$0	–	-23,942	–	-0.37%	–
PRSP	Exit	PERSPECTA INC	$0	–	-75,500	–	-1.01%	–
OSB	Exit	NORBORD INC	$0	–	-52,021	–	-1.15%	–

Q2 2018

			Value		Shares		↓ Weighting
AAPL	New	APPLE	$5,479,000	–	28,792	–	3.38%	–
BRKB	New	BERKSHIRE HATHAWAY INC CL Bcl b	$4,811,000	–	24,313	–	2.97%	–
HCRSQ	New	HI CRUSH PARTNERS LP	$2,695,000	–	176,749	–	1.66%	–
STOR	New	STORE CAPITAL CORP	$2,592,000	–	94,422	–	1.60%	–
CMCSA	New	COMCAST CL Acl a	$2,545,000	–	71,127	–	1.57%	–
ACRE	New	ARES COMMERCIAL REAL ESTATE GROUP	$2,530,000	–	179,152	–	1.56%	–
NBL	New	NOBLE ENERGY	$2,471,000	–	68,479	–	1.52%	–
CE	New	CELANESE CORP	$2,466,000	–	20,881	–	1.52%	–
JPM	New	JP MORGAN CHASE AND CO	$2,439,000	–	21,216	–	1.50%	–
APOG	New	APOGEE ENTERPRISES	$2,435,000	–	47,972	–	1.50%	–
LH	New	LABORATORY CORP. OF AMERICA	$2,415,000	–	13,776	–	1.49%	–
USB	New	US BANCORP DEL COM	$2,406,000	–	45,394	–	1.48%	–
CB	New	CHUBB LIMITED	$2,389,000	–	17,097	–	1.47%	–
DHI	New	D R HORTON INC COM	$2,378,000	–	54,427	–	1.47%	–
RCL	New	ROYAL CARIBBEAN CRUISES	$2,375,000	–	21,063	–	1.46%	–
DIS	New	DISNEY WALT CO COM	$2,352,000	–	20,715	–	1.45%	–
ARCC	New	ARES CAPITAL CORPORATION	$2,338,000	–	138,756	–	1.44%	–
TPVG	New	TRIPLE POINT VENTURE GROWTH	$2,332,000	–	170,693	–	1.44%	–
LRCX	New	LAM RESEARCH CORP	$2,321,000	–	12,174	–	1.43%	–
FDX	New	FEDEX CORP	$2,310,000	–	9,394	–	1.42%	–
GTN	New	GRAY TELEVISION INC	$2,291,000	–	148,293	–	1.41%	–
DOX	New	AMDOCS LTD.	$2,282,000	–	33,769	–	1.41%	–
INTC	New	INTEL CORP COM	$2,274,000	–	47,280	–	1.40%	–
BXMT	New	BLACKSTONE MORTGAGE TRUSTcl a	$2,255,000	–	68,050	–	1.39%	–
GS	New	GOLDMAN SACHS	$2,252,000	–	9,485	–	1.39%	–
ARW	New	ARROW ELECTRS INC COM	$2,234,000	–	29,459	–	1.38%	–
WFC	New	WELLS FARGO AND CO	$2,231,000	–	38,950	–	1.38%	–
BDC	New	BELDEN CDT	$2,202,000	–	34,012	–	1.36%	–
OMC	New	OMNICOM GROUP INC	$2,182,000	–	31,708	–	1.35%	–
PFG	New	PRINCIPAL FINANCIAL GROUP	$2,175,000	–	37,449	–	1.34%	–
ON	New	ON SEMICONDUCTOR CORP	$2,167,000	–	98,282	–	1.34%	–
AXE	New	ANIXTER INTL	$2,162,000	–	29,652	–	1.33%	–
MUR	New	MURPHY OIL CORP	$2,140,000	–	64,336	–	1.32%	–
EQNR	New	EQUINOR ASAadr	$2,140,000	–	80,862	–	1.32%	–
RE	New	EVEREST RE	$2,115,000	–	9,685	–	1.30%	–
LEN	New	LENNAR CORP CL Acl a	$2,112,000	–	40,401	–	1.30%	–
AMAT	New	APPLIED MATLS INC COM	$2,099,000	–	43,155	–	1.29%	–
AMCX	New	AMC NETWORKS INCcl a	$2,089,000	–	34,642	–	1.29%	–
WLL	New	WHITING PETROLEUM	$2,064,000	–	41,575	–	1.27%	–
DXC	New	DXC TECHNOLOGY COMPANY	$2,061,000	–	24,319	–	1.27%	–
RHHBY	New	ROCHE HOLDINGS LIMITEDadr	$2,054,000	–	66,985	–	1.27%	–
MGA	New	MAGNA INTL INC	$2,050,000	–	33,726	–	1.26%	–
ST	New	SENSATA TECHNOLOGY	$2,039,000	–	37,505	–	1.26%	–
SBGI	New	SINCLAIR BROADCASTING GROUPcl a	$2,017,000	–	78,188	–	1.24%	–
KNL	New	KNOLL INC	$2,004,000	–	88,885	–	1.24%	–
DLX	New	DELUXE CORP.	$1,977,000	–	33,544	–	1.22%	–
CCL	New	CARNIVAL CORP.unit	$1,965,000	–	33,170	–	1.21%	–
UNM	New	UNUM GROUP	$1,957,000	–	49,270	–	1.21%	–
LYB	New	LYONDELLBASELL INDUSTRIES	$1,941,000	–	17,517	–	1.20%	–
STAG	New	STAG INDUSTRIAL	$1,930,000	–	70,634	–	1.19%	–
SSP	New	SCRIPPS EW COcl a	$1,924,000	–	146,866	–	1.19%	–
THO	New	THOR INDUSTRIES INC	$1,923,000	–	20,270	–	1.19%	–
DDAIF	New	DAIMLER AGadr	$1,918,000	–	27,721	–	1.18%	–
CBS	New	CBScl b	$1,903,000	–	36,131	–	1.17%	–
MHO	New	M/I HOMES INC	$1,897,000	–	73,355	–	1.17%	–
TSN	New	TYSON FOODScl a	$1,896,000	–	32,895	–	1.17%	–
OSB	New	NORBORD INC	$1,868,000	–	52,021	–	1.15%	–
GPORQ	New	GULFPORT ENERGY CORP	$1,841,000	–	159,945	–	1.14%	–
SWKS	New	SKYWORKS SOLUTIONS	$1,792,000	–	18,943	–	1.10%	–
BAESY	New	BAE SYSTEMS PLCplc	$1,745,000	–	50,195	–	1.08%	–
ABBV	New	ABBVIE INC	$1,708,000	–	18,521	–	1.05%	–
WPP	New	WPP PLCadr	$1,704,000	–	21,750	–	1.05%	–
PPC	New	PILGRIMS PRIDE CORP	$1,667,000	–	93,520	–	1.03%	–
PRSP	New	PERSPECTA INC	$1,638,000	–	75,500	–	1.01%	–
ICHR	New	ICHOR HOLDINGS	$1,632,000	–	77,710	–	1.01%	–
TEN	New	TENNECO INC	$1,617,000	–	35,084	–	1.00%	–
HOFT	New	HOOKER FURNITURE CORP	$1,582,000	–	35,126	–	0.98%	–
SNX	New	SYNNEX CORP	$1,553,000	–	16,097	–	0.96%	–
TSEM	New	TOWER SEMICONDUCTOR ORD	$1,301,000	–	62,980	–	0.80%	–
PVH	New	PVH Corp	$1,199,000	–	7,809	–	0.74%	–
UCTT	New	ULTRA CLEAN HOLDINGS	$1,138,000	–	84,804	–	0.70%	–
SPB	New	SPECTRUM BRANDS INC	$1,085,000	–	12,417	–	0.67%	–
BWA	New	BORG WARNER	$1,055,000	–	22,918	–	0.65%	–
COHU	New	COHU INC COM	$1,042,000	–	41,386	–	0.64%	–
ACM	New	AECOM TECH CORP.	$807,000	–	24,050	–	0.50%	–
CNBKA	New	CENTURY BANCORPcl a	$740,000	–	9,568	–	0.46%	–
IPG	New	INTERPUBLIC GROUP	$698,000	–	30,949	–	0.43%	–
TOWR	New	TOWER INTERNATIONAL	$670,000	–	20,753	–	0.41%	–
UNTCQ	New	UNIT CORP	$596,000	–	23,942	–	0.37%	–
WNC	New	WABASH NATIONAL	$463,000	–	23,387	–	0.29%	–
HTGC	New	HERCULES CAPITAL INC	$411,000	–	30,416	–	0.25%	–
OVLY	New	OAK VALLEY BANCORP	$373,000	–	17,006	–	0.23%	–
KLAC	New	KLA-TENCOR CORP COM	$313,000	–	2,669	–	0.19%	–
MBIN	New	MERCHANTS BANCORP	$291,000	–	11,881	–	0.18%	–
BAC	New	BANK OF AMERICA CORP	$283,000	–	9,150	–	0.18%	–
ARRS	New	ARRIS INTERNATIONAL	$212,000	–	8,410	–	0.13%	–
SRCI	New	SRC ENERGY INC	$128,000	–	11,300	–	0.08%	–

Q4 2017

			Value		Shares		↓ Weighting
TOWR	Exit	TOWER INTERNATIONAL	$0	–	-7,898	–	-0.12%	–
CZFC	Exit	CITIZENS FIRST CORP	$0	–	-11,475	–	-0.15%	–
OVLY	Exit	OAK VALLEY BANCORP	$0	–	-18,296	–	-0.17%	–
KLAC	Exit	KLA-TENCOR CORP COM	$0	–	-3,350	–	-0.20%	–
LBTYA	Exit	LIBERTY GLOBAL PLC CL Acl a	$0	–	-12,935	–	-0.24%	–
ACU	Exit	ACME UNITED INC	$0	–	-22,933	–	-0.30%	–
GTN	Exit	GRAY TELEVISION INC	$0	–	-35,030	–	-0.31%	–
SLG	Exit	SL GREEN REALTY CORP	$0	–	-7,400	–	-0.42%	–
ACRE	Exit	ARES COMMERCIAL REAL ESTATE GROUP	$0	–	-63,888	–	-0.48%	–
TSQ	Exit	TOWNSQUARE MEDIA INCcl a	$0	–	-86,277	–	-0.48%	–
CNBKA	Exit	CENTURY BANCORPcl a	$0	–	-11,101	–	-0.50%	–
ACM	Exit	AECOM TECH CORP.	$0	–	-25,050	–	-0.52%	–
JCI	Exit	JOHNSON CTLS INC	$0	–	-23,469	–	-0.53%	–
AGX	Exit	ARGAN	$0	–	-14,894	–	-0.56%	–
COHU	Exit	COHU INC COM	$0	–	-48,014	–	-0.64%	–
HOFT	Exit	HOOKER FURNITURE CORP	$0	–	-27,211	–	-0.73%	–
APOG	Exit	APOGEE ENTERPRISES	$0	–	-28,233	–	-0.76%	–
LBTYK	Exit	LIBERTY GLOBAL PLC CL Ccl c	$0	–	-46,582	–	-0.85%	–
AGN	Exit	ALLERGAN PLCplc	$0	–	-7,884	–	-0.90%	–
UNTCQ	Exit	UNIT CORP	$0	–	-81,199	–	-0.93%	–
PVH	Exit	PVH Corp	$0	–	-13,367	–	-0.94%	–
AXE	Exit	ANIXTER INTL	$0	–	-20,438	–	-0.97%	–
CUBI	Exit	CUSTOMERS BANCORP	$0	–	-53,565	–	-0.98%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES	$0	–	-18,429	–	-1.02%	–
OHI	Exit	OMEGA HEALTHCARE INVESTORS INC.	$0	–	-59,111	–	-1.05%	–
FCX	Exit	FREEPORT MCMORANcl b	$0	–	-135,045	–	-1.06%	–
MUR	Exit	MURPHY OIL CORP	$0	–	-72,014	–	-1.07%	–
SCS	Exit	STEELCASE INCcl a	$0	–	-130,480	–	-1.12%	–
BC	Exit	BRUNSWICK CORP	$0	–	-36,128	–	-1.13%	–
NVMI	Exit	NOVA MEASURING INSTRUMENTS LTD	$0	–	-72,488	–	-1.14%	–
SHPG	Exit	SHIRE PLCadr	$0	–	-13,340	–	-1.14%	–
MHO	Exit	M/I HOMES INC	$0	–	-76,598	–	-1.14%	–
CBS	Exit	CBScl b	$0	–	-35,460	–	-1.15%	–
WPP	Exit	WPP PLCadr	$0	–	-22,213	–	-1.15%	–
BDC	Exit	BELDEN CDT	$0	–	-25,736	–	-1.16%	–
OCLR	Exit	OCLARO INC	$0	–	-242,410	–	-1.17%	–
IPG	Exit	INTERPUBLIC GROUP	$0	–	-100,768	–	-1.17%	–
CCL	Exit	CARNIVAL CORP.unit	$0	–	-33,473	–	-1.21%	–
RE	Exit	EVEREST RE	$0	–	-9,540	–	-1.22%	–
CLS	Exit	CELESTICA INC	$0	–	-179,594	–	-1.24%	–
DIS	Exit	DISNEY WALT CO COM	$0	–	-22,858	–	-1.26%	–
STOR	Exit	STORE CAPITAL CORP	$0	–	-91,465	–	-1.27%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-30,855	–	-1.28%	–
FN	Exit	FABRINET	$0	–	-62,051	–	-1.29%	–
LH	Exit	LABORATORY CORP. OF AMERICA	$0	–	-15,300	–	-1.29%	–
WHR	Exit	WHIRLPOOL CORP	$0	–	-12,728	–	-1.31%	–
TEN	Exit	TENNECO INC	$0	–	-38,782	–	-1.32%	–
WFC	Exit	WELLS FARGO AND CO	$0	–	-43,098	–	-1.33%	–
CB	Exit	CHUBB LIMITED	$0	–	-16,855	–	-1.34%	–
AMCX	Exit	AMC NETWORKS INCcl a	$0	–	-41,098	–	-1.34%	–
CMCSA	Exit	COMCAST CL Acl a	$0	–	-62,533	–	-1.34%	–
TPVG	Exit	TRIPLE POINT VENTURE GROWTH	$0	–	-180,382	–	-1.35%	–
LEN	Exit	LENNAR CORP COMcl a	$0	–	-45,798	–	-1.35%	–
SNA	Exit	SNAP-ON INC	$0	–	-16,297	–	-1.36%	–
RCL	Exit	ROYAL CARIBBEAN CRUISES	$0	–	-20,579	–	-1.36%	–
ARCC	Exit	ARES CAPITAL CORPORATION	$0	–	-149,863	–	-1.37%	–
DOX	Exit	AMDOCS LTD.	$0	–	-38,362	–	-1.38%	–
SANM	Exit	SANMINA SCI CORP	$0	–	-66,582	–	-1.38%	–
UNM	Exit	UNUM GROUP	$0	–	-48,580	–	-1.39%	–
ZBH	Exit	ZIMMER BIOMET HOLDINGS	$0	–	-21,573	–	-1.41%	–
PPC	Exit	PILGRIMS PRIDE CORP	$0	–	-89,689	–	-1.42%	–
INTC	Exit	INTEL CORP COM	$0	–	-67,893	–	-1.44%	–
SBGI	Exit	SINCLAIR BROADCASTING GROUPcl a	$0	–	-80,802	–	-1.45%	–
DDAIF	Exit	DAIMLER AGadr	$0	–	-32,533	–	-1.45%	–
USB	Exit	US BANCORP DEL COM	$0	–	-48,402	–	-1.45%	–
MCRN	Exit	MILACRON HOLDINGS CORP	$0	–	-154,000	–	-1.45%	–
ST	Exit	SENSATA TECHNOLOGY	$0	–	-54,050	–	-1.45%	–
ARW	Exit	ARROW ELECTRS INC COM	$0	–	-32,334	–	-1.45%	–
GS	Exit	GOLDMAN SACHS	$0	–	-11,048	–	-1.46%	–
TSEM	Exit	TOWER SEMICONDUCTOR ORD	$0	–	-86,019	–	-1.48%	–
DLX	Exit	DELUXE CORP.	$0	–	-36,308	–	-1.48%	–
TSN	Exit	TYSON FOODScl a	$0	–	-37,620	–	-1.48%	–
MSCC	Exit	MICROSEMI CORP	$0	–	-51,582	–	-1.48%	–
MGA	Exit	MAGNA INTL INC	$0	–	-50,046	–	-1.49%	–
UCTT	Exit	ULTRA CLEAN HOLDINGS	$0	–	-88,381	–	-1.51%	–
RDSA	Exit	ROYAL DUTCH SHELL ADSadr a	$0	–	-44,748	–	-1.52%	–
ICHR	Exit	ICHOR HOLDINGS	$0	–	-102,411	–	-1.53%	–
FDX	Exit	FEDEX CORP	$0	–	-12,525	–	-1.58%	–
DHI	Exit	D R HORTON INC COM	$0	–	-72,272	–	-1.61%	–
ABBV	Exit	ABBVIE INC	$0	–	-32,949	–	-1.64%	–
ON	Exit	ON SEMICONDUCTOR CORP	$0	–	-161,397	–	-1.67%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-16,435	–	-1.70%	–
THO	Exit	THOR INDUSTRIES INC	$0	–	-24,611	–	-1.73%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC CL Bcl b	$0	–	-30,613	–	-3.14%	–
AAPL	Exit	APPLE	$0	–	-36,636	–	-3.16%	–

Q3 2017

			Value		Shares		↓ Weighting
AAPL	Buy	APPLE	$5,646,000	+7.1%	36,636	+0.1%	3.16%	+8.0%
BRKB	Sell	BERKSHIRE HATHAWAY INC CL Bcl b	$5,612,000	+7.9%	30,613	-0.3%	3.14%	+8.8%
THO	Sell	THOR INDUSTRIES INC	$3,099,000	+19.9%	24,611	-0.5%	1.73%	+20.9%
LRCX	Sell	LAM RESEARCH CORP	$3,041,000	+17.8%	16,435	-10.0%	1.70%	+18.8%
ON	Sell	ON SEMICONDUCTOR CORP	$2,981,000	+31.4%	161,397	-0.1%	1.67%	+32.4%
ABBV	Sell	ABBVIE INC	$2,928,000	+22.2%	32,949	-0.3%	1.64%	+23.2%
DHI	Sell	D R HORTON INC COM	$2,886,000	+9.6%	72,272	-5.1%	1.61%	+10.5%
FDX	Sell	FEDEX CORP	$2,825,000	+2.8%	12,525	-0.9%	1.58%	+3.7%
ICHR	Buy	ICHOR HOLDINGS	$2,745,000	+224.9%	102,411	+144.2%	1.53%	+227.8%
RDSA	Buy	ROYAL DUTCH SHELL ADSadr a	$2,711,000	+14.1%	44,748	+0.2%	1.52%	+15.0%
UCTT	Buy	ULTRA CLEAN HOLDINGS	$2,706,000	+83.1%	88,381	+12.1%	1.51%	+84.7%
MGA	Sell	MAGNA INTL INC	$2,671,000	+10.3%	50,046	-4.3%	1.49%	+11.2%
MSCC	Buy	MICROSEMI CORP	$2,655,000	+10.6%	51,582	+0.6%	1.48%	+11.6%
TSN	Sell	TYSON FOODScl a	$2,650,000	+12.3%	37,620	-0.2%	1.48%	+13.2%
DLX	Buy	DELUXE CORP.	$2,649,000	+6.1%	36,308	+0.7%	1.48%	+7.0%
TSEM	Sell	TOWER SEMICONDUCTOR ORD	$2,645,000	+3.0%	86,019	-20.1%	1.48%	+3.9%
GS	Sell	GOLDMAN SACHS	$2,620,000	+3.1%	11,048	-3.5%	1.46%	+4.0%
ARW	Sell	ARROW ELECTRS INC COM	$2,600,000	-2.3%	32,334	-4.7%	1.45%	-1.5%
ST	Sell	SENSATA TECHNOLOGY	$2,598,000	+7.5%	54,050	-4.4%	1.45%	+8.4%
MCRN	Buy	MILACRON HOLDINGS CORP	$2,596,000	+16.9%	154,000	+22.0%	1.45%	+17.9%
USB	Buy	US BANCORP DEL COM	$2,594,000	+6.1%	48,402	+2.7%	1.45%	+6.9%
DDAIF	Buy	DAIMLER AGadr	$2,592,000	+10.6%	32,533	+0.7%	1.45%	+11.5%
SBGI	Buy	SINCLAIR BROADCASTING GROUPcl a	$2,590,000	+5.8%	80,802	+8.6%	1.45%	+6.8%
INTC	Buy	INTEL CORP COM	$2,585,000	+13.4%	67,893	+0.5%	1.44%	+14.4%
PPC	Sell	PILGRIMS PRIDE CORP	$2,548,000	+19.5%	89,689	-7.8%	1.42%	+20.5%
ZBH	Sell	ZIMMER BIOMET HOLDINGS	$2,526,000	-52.9%	21,573	-49.7%	1.41%	-52.5%
UNM	New	UNUM GROUP	$2,484,000	–	48,580	–	1.39%	–
SANM	Buy	SANMINA SCI CORP	$2,474,000	-2.2%	66,582	+0.3%	1.38%	-1.4%
DOX	Sell	AMDOCS LTD.	$2,467,000	-2.3%	38,362	-2.1%	1.38%	-1.5%
ARCC	Buy	ARES CAPITAL CORPORATION	$2,456,000	+4.8%	149,863	+4.8%	1.37%	+5.7%
RCL	Sell	ROYAL CARIBBEAN CRUISES	$2,439,000	+6.0%	20,579	-2.2%	1.36%	+6.9%
SNA	New	SNAP-ON INC	$2,428,000	–	16,297	–	1.36%	–
LEN	Buy	LENNAR CORP COMcl a	$2,418,000	-0.5%	45,798	+0.5%	1.35%	+0.4%
TPVG	Buy	TRIPLE POINT VENTURE GROWTH	$2,417,000	+6.2%	180,382	+5.5%	1.35%	+7.1%
CMCSA	Buy	COMCAST CL Acl a	$2,406,000	0.0%	62,533	+1.2%	1.34%	+0.8%
AMCX	Sell	AMC NETWORKS INCcl a	$2,403,000	+9.4%	41,098	-0.1%	1.34%	+10.3%
CB	Sell	CHUBB LIMITED	$2,403,000	-2.3%	16,855	-0.3%	1.34%	-1.5%
WFC	Sell	WELLS FARGO AND CO	$2,377,000	-50.8%	43,098	-50.4%	1.33%	-50.4%
TEN	Buy	TENNECO INC	$2,353,000	+5.4%	38,782	+0.5%	1.32%	+6.3%
WHR	Sell	WHIRLPOOL CORP	$2,348,000	-50.4%	12,728	-51.3%	1.31%	-50.0%
LH	Sell	LABORATORY CORP. OF AMERICA	$2,310,000	-10.2%	15,300	-8.3%	1.29%	-9.5%
FN	Sell	FABRINET	$2,300,000	-15.1%	62,051	-2.3%	1.29%	-14.4%
OMC	Buy	OMNICOM GROUP INC	$2,285,000	-2.6%	30,855	+9.0%	1.28%	-1.8%
STOR	New	STORE CAPITAL CORP	$2,275,000	–	91,465	–	1.27%	–
DIS	Buy	DISNEY WALT CO COM	$2,253,000	-6.6%	22,858	+0.7%	1.26%	-5.9%
CLS	Buy	CELESTICA INC	$2,223,000	-8.5%	179,594	+0.4%	1.24%	-7.7%
RE	Sell	EVEREST RE	$2,179,000	-13.8%	9,540	-3.9%	1.22%	-13.1%
CCL	Sell	CARNIVAL CORP.unit	$2,161,000	-7.9%	33,473	-6.5%	1.21%	-7.1%
IPG	Buy	INTERPUBLIC GROUP	$2,095,000	-15.2%	100,768	+0.3%	1.17%	-14.5%
OCLR	Buy	OCLARO INC	$2,092,000	-5.5%	242,410	+2.3%	1.17%	-4.7%
BDC	Buy	BELDEN CDT	$2,073,000	+54.1%	25,736	+44.3%	1.16%	+55.4%
WPP	Sell	WPP PLCadr	$2,061,000	-57.2%	22,213	-50.4%	1.15%	-56.8%
CBS	Buy	CBScl b	$2,057,000	-8.0%	35,460	+1.1%	1.15%	-7.2%
MHO	Buy	M/I HOMES INC	$2,047,000	+30.2%	76,598	+39.1%	1.14%	+31.3%
SHPG	Sell	SHIRE PLCadr	$2,043,000	-7.4%	13,340	-0.1%	1.14%	-6.6%
NVMI	Sell	NOVA MEASURING INSTRUMENTS LTD	$2,038,000	+26.3%	72,488	-0.8%	1.14%	+27.3%
BC	Sell	BRUNSWICK CORP	$2,022,000	-17.6%	36,128	-7.7%	1.13%	-16.9%
SCS	Buy	STEELCASE INCcl a	$2,009,000	+10.7%	130,480	+0.7%	1.12%	+11.6%
MUR	Buy	MURPHY OIL CORP	$1,913,000	+7.3%	72,014	+3.5%	1.07%	+8.2%
FCX	Buy	FREEPORT MCMORANcl b	$1,896,000	+17.1%	135,045	+0.2%	1.06%	+18.2%
OHI	Buy	OMEGA HEALTHCARE INVESTORS INC.	$1,886,000	-2.9%	59,111	+0.4%	1.05%	-2.1%
LYB	Sell	LYONDELLBASELL INDUSTRIES	$1,825,000	+15.9%	18,429	-1.3%	1.02%	+16.8%
CUBI	Buy	CUSTOMERS BANCORP	$1,747,000	+16.9%	53,565	+1.4%	0.98%	+18.0%
AXE	Buy	ANIXTER INTL	$1,737,000	+11.1%	20,438	+2.3%	0.97%	+12.1%
PVH	Sell	PVH Corp	$1,685,000	+6.4%	13,367	-3.4%	0.94%	+7.3%
UNTCQ	Sell	UNIT CORP	$1,671,000	+8.0%	81,199	-1.7%	0.93%	+8.9%
AGN	Buy	ALLERGAN PLCplc	$1,616,000	-14.9%	7,884	+0.9%	0.90%	-14.2%
LBTYK	Sell	LIBERTY GLOBAL PLC CL Ccl c	$1,523,000	+2.2%	46,582	-2.5%	0.85%	+3.0%
APOG	Buy	APOGEE ENTERPRISES	$1,363,000	-4.3%	28,233	+12.7%	0.76%	-3.4%
HOFT	Buy	HOOKER FURNITURE CORP	$1,299,000	+17.7%	27,211	+1.4%	0.73%	+18.6%
COHU	Buy	COHU INC COM	$1,145,000	+60.6%	48,014	+6.0%	0.64%	+62.0%
AGX	Buy	ARGAN	$1,002,000	+71.6%	14,894	+53.1%	0.56%	+72.8%
JCI	Buy	JOHNSON CTLS INC	$946,000	-7.0%	23,469	+0.1%	0.53%	-6.2%
ACM	Buy	AECOM TECH CORP.	$922,000	+44.1%	25,050	+26.6%	0.52%	+45.1%
CNBKA	Buy	CENTURY BANCORPcl a	$889,000	+28.8%	11,101	+2.4%	0.50%	+30.1%
TSQ	Sell	TOWNSQUARE MEDIA INCcl a	$863,000	-2.8%	86,277	-0.6%	0.48%	-2.0%
ACRE	New	ARES COMMERCIAL REAL ESTATE GROUP	$850,000	–	63,888	–	0.48%	–
SLG	New	SL GREEN REALTY CORP	$750,000	–	7,400	–	0.42%	–
GTN	New	GRAY TELEVISION INC	$550,000	–	35,030	–	0.31%	–
ACU	Buy	ACME UNITED INC	$527,000	-15.1%	22,933	+5.7%	0.30%	-14.2%
LBTYA	Sell	LIBERTY GLOBAL PLC CL Acl a	$439,000	+2.6%	12,935	-3.0%	0.24%	+3.4%
KLAC	New	KLA-TENCOR CORP COM	$355,000	–	3,350	–	0.20%	–
OVLY	New	OAK VALLEY BANCORP	$307,000	–	18,296	–	0.17%	–
CZFC	New	CITIZENS FIRST CORP	$274,000	–	11,475	–	0.15%	–
TOWR	New	TOWER INTERNATIONAL	$215,000	–	7,898	–	0.12%	–
DKS	Exit	DICK'S SPORTING GOODS	$0	–	-47,040	–	-1.04%	–
HDS	Exit	HD SUPPLY HOLDINGS	$0	–	-62,359	–	-1.06%	–
CVS	Exit	CVS HEALTH	$0	–	-23,735	–	-1.06%	–
COMM	Exit	COMMSCOPE HOLDING CO	$0	–	-59,931	–	-1.26%	–
WYND	Exit	WYNDHAM WORLDWIDE CORP	$0	–	-54,433	–	-2.77%	–

Q2 2017

			Value		Shares		↓ Weighting
ZBH	New	ZIMMER BIOMET HOLDINGS	$5,363,000	–	42,878	–	2.97%	–
AAPL	New	APPLE	$5,273,000	–	36,610	–	2.92%	–
BRKB	New	BERKSHIRE HATHAWAY INC CL Bcl b	$5,200,000	–	30,703	–	2.88%	–
WYND	New	WYNDHAM WORLDWIDE CORP	$4,989,000	–	54,433	–	2.77%	–
WFC	New	WELLS FARGO AND CO	$4,829,000	–	86,951	–	2.68%	–
WPP	New	WPP PLCadr	$4,813,000	–	44,793	–	2.67%	–
WHR	New	WHIRLPOOL CORP	$4,736,000	–	26,109	–	2.62%	–
FDX	New	FEDEX CORP	$2,748,000	–	12,643	–	1.52%	–
FN	New	FABRINET	$2,710,000	–	63,532	–	1.50%	–
ARW	New	ARROW ELECTRS INC COM	$2,660,000	–	33,923	–	1.48%	–
DHI	New	D R HORTON INC COM	$2,633,000	–	76,178	–	1.46%	–
THO	New	THOR INDUSTRIES INC	$2,584,000	–	24,725	–	1.43%	–
LRCX	New	LAM RESEARCH CORP	$2,581,000	–	18,251	–	1.43%	–
LH	New	LABORATORY CORP. OF AMERICA	$2,572,000	–	16,684	–	1.43%	–
TSEM	New	TOWER SEMICONDUCTOR ORD	$2,569,000	–	107,704	–	1.42%	–
GS	New	GOLDMAN SACHS	$2,541,000	–	11,453	–	1.41%	–
SANM	New	SANMINA SCI CORP	$2,529,000	–	66,377	–	1.40%	–
RE	New	EVEREST RE	$2,528,000	–	9,928	–	1.40%	–
DOX	New	AMDOCS LTD.	$2,526,000	–	39,189	–	1.40%	–
DLX	New	DELUXE CORP.	$2,497,000	–	36,072	–	1.38%	–
IPG	New	INTERPUBLIC GROUP	$2,471,000	–	100,466	–	1.37%	–
CB	New	CHUBB LIMITED	$2,459,000	–	16,912	–	1.36%	–
BC	New	BRUNSWICK CORP	$2,454,000	–	39,124	–	1.36%	–
SBGI	New	SINCLAIR BROADCASTING GROUPcl a	$2,447,000	–	74,373	–	1.36%	–
USB	New	US BANCORP DEL COM	$2,446,000	–	47,119	–	1.36%	–
CLS	New	CELESTICA INC	$2,430,000	–	178,906	–	1.35%	–
LEN	New	LENNAR CORP COMcl a	$2,429,000	–	45,558	–	1.35%	–
MGA	New	MAGNA INTL INC	$2,422,000	–	52,271	–	1.34%	–
ST	New	SENSATA TECHNOLOGY	$2,416,000	–	56,560	–	1.34%	–
DIS	New	DISNEY WALT CO COM	$2,413,000	–	22,710	–	1.34%	–
CMCSA	New	COMCAST CL Acl a	$2,406,000	–	61,807	–	1.33%	–
MSCC	New	MICROSEMI CORP	$2,400,000	–	51,287	–	1.33%	–
ABBV	New	ABBVIE INC	$2,397,000	–	33,053	–	1.33%	–
RDSA	New	ROYAL DUTCH SHELL ADSadr a	$2,376,000	–	44,670	–	1.32%	–
TSN	New	TYSON FOODScl a	$2,360,000	–	37,678	–	1.31%	–
OMC	New	OMNICOM GROUP INC	$2,347,000	–	28,317	–	1.30%	–
CCL	New	CARNIVAL CORP.unit	$2,347,000	–	35,797	–	1.30%	–
DDAIF	New	DAIMLER AGadr	$2,343,000	–	32,318	–	1.30%	–
ARCC	New	ARES CAPITAL CORPORATION	$2,343,000	–	143,040	–	1.30%	–
RCL	New	ROYAL CARIBBEAN CRUISES	$2,300,000	–	21,052	–	1.28%	–
INTC	New	INTEL CORP COM	$2,279,000	–	67,538	–	1.26%	–
COMM	New	COMMSCOPE HOLDING CO	$2,279,000	–	59,931	–	1.26%	–
TPVG	New	TRIPLE POINT VENTURE GROWTH	$2,275,000	–	170,918	–	1.26%	–
ON	New	ON SEMICONDUCTOR CORP	$2,269,000	–	161,599	–	1.26%	–
CBS	New	CBScl b	$2,236,000	–	35,060	–	1.24%	–
TEN	New	TENNECO INC	$2,232,000	–	38,592	–	1.24%	–
MCRN	New	MILACRON HOLDINGS CORP	$2,221,000	–	126,264	–	1.23%	–
OCLR	New	OCLARO INC	$2,213,000	–	236,920	–	1.23%	–
SHPG	New	SHIRE PLCadr	$2,206,000	–	13,350	–	1.22%	–
AMCX	New	AMC NETWORKS INCcl a	$2,197,000	–	41,142	–	1.22%	–
PPC	New	PILGRIMS PRIDE CORP	$2,133,000	–	97,316	–	1.18%	–
OHI	New	OMEGA HEALTHCARE INVESTORS INC.	$1,943,000	–	58,857	–	1.08%	–
HDS	New	HD SUPPLY HOLDINGS	$1,910,000	–	62,359	–	1.06%	–
CVS	New	CVS HEALTH	$1,910,000	–	23,735	–	1.06%	–
AGN	New	ALLERGAN PLCplc	$1,900,000	–	7,814	–	1.05%	–
DKS	New	DICK'S SPORTING GOODS	$1,874,000	–	47,040	–	1.04%	–
SCS	New	STEELCASE INCcl a	$1,815,000	–	129,635	–	1.01%	–
MUR	New	MURPHY OIL CORP	$1,783,000	–	69,586	–	0.99%	–
FCX	New	FREEPORT MCMORANcl b	$1,619,000	–	134,817	–	0.90%	–
NVMI	New	NOVA MEASURING INSTRUMENTS LTD	$1,614,000	–	73,065	–	0.90%	–
PVH	New	PVH Corp	$1,584,000	–	13,834	–	0.88%	–
LYB	New	LYONDELLBASELL INDUSTRIES	$1,575,000	–	18,669	–	0.87%	–
MHO	New	M/I HOMES INC	$1,572,000	–	55,078	–	0.87%	–
AXE	New	ANIXTER INTL	$1,563,000	–	19,988	–	0.87%	–
UNTCQ	New	UNIT CORP	$1,547,000	–	82,607	–	0.86%	–
CUBI	New	CUSTOMERS BANCORP	$1,494,000	–	52,833	–	0.83%	–
LBTYK	New	LIBERTY GLOBAL PLC CL Ccl c	$1,490,000	–	47,795	–	0.83%	–
UCTT	New	ULTRA CLEAN HOLDINGS	$1,478,000	–	78,836	–	0.82%	–
APOG	New	APOGEE ENTERPRISES	$1,424,000	–	25,052	–	0.79%	–
BDC	New	BELDEN CDT	$1,345,000	–	17,829	–	0.75%	–
HOFT	New	HOOKER FURNITURE CORP	$1,104,000	–	26,832	–	0.61%	–
JCI	New	JOHNSON CTLS INC	$1,017,000	–	23,444	–	0.56%	–
TSQ	New	TOWNSQUARE MEDIA INCcl a	$888,000	–	86,764	–	0.49%	–
ICHR	New	ICHOR HOLDINGS	$845,000	–	41,931	–	0.47%	–
COHU	New	COHU INC COM	$713,000	–	45,279	–	0.40%	–
CNBKA	New	CENTURY BANCORPcl a	$690,000	–	10,845	–	0.38%	–
ACM	New	AECOM TECH CORP.	$640,000	–	19,790	–	0.36%	–
ACU	New	ACME UNITED INC	$621,000	–	21,701	–	0.34%	–
AGX	New	ARGAN	$584,000	–	9,729	–	0.32%	–
LBTYA	New	LIBERTY GLOBAL PLC CL Acl a	$428,000	–	13,330	–	0.24%	–

Q4 2016

			Value		Shares		↓ Weighting
SMBC	Exit	SOUTHERN MISSOURI BANCORP INC	$0	–	-17,988	–	-0.28%	–
HOFT	Exit	HOOKER FURNITURE CORP	$0	–	-18,588	–	-0.28%	–
FBIZ	Exit	FIRST BUSINESS FINANCIAL SERVICES	$0	–	-20,283	–	-0.30%	–
M	Exit	MACY'S GROUP	$0	–	-13,694	–	-0.32%	–
CNBKA	Exit	CENTURY BANCORPcl a	$0	–	-11,825	–	-0.33%	–
LBTYA	Exit	LIBERTY GLOBAL PLC CL Acl a	$0	–	-16,540	–	-0.35%	–
CCL	Exit	CARNIVAL CORP.unit	$0	–	-12,475	–	-0.38%	–
SCS	Exit	STEELCASE INCcl a	$0	–	-46,009	–	-0.40%	–
CAC	Exit	CAMDEN NATIONAL CORP	$0	–	-14,553	–	-0.43%	–
CAA	Exit	CALATLANTIC	$0	–	-22,590	–	-0.47%	–
TSQ	Exit	TOWNSQUARE MEDIA INCcl a	$0	–	-88,552	–	-0.52%	–
TPVG	Exit	TRIPLE POINT VENTURE GROWTH	$0	–	-94,025	–	-0.62%	–
LBTYK	Exit	LIBERTY GLOBAL PLC CL Ccl c	$0	–	-31,068	–	-0.64%	–
AGX	Exit	ARGAN	$0	–	-18,545	–	-0.68%	–
JCI	Exit	JOHNSON CTLS INC	$0	–	-24,314	–	-0.70%	–
CAH	Exit	CARDINAL HEALTH	$0	–	-14,767	–	-0.71%	–
HON	Exit	HONEYWELL INTERNATIONAL INC	$0	–	-10,182	–	-0.74%	–
MHO	Exit	M/I HOMES INC	$0	–	-51,363	–	-0.75%	–
PVH	Exit	PVH Corp	$0	–	-12,147	–	-0.84%	–
AGN	Exit	ALLERGAN PLC	$0	–	-6,405	–	-0.92%	–
MCK	Exit	MCKESSON	$0	–	-9,035	–	-0.94%	–
SNI	Exit	SCRIPPS NETWORK INTERACTIVE INC	$0	–	-24,642	–	-0.97%	–
MYL	Exit	MYLAN	$0	–	-41,176	–	-0.98%	–
CLS	Exit	CELESTICA INC	$0	–	-148,391	–	-1.00%	–
RL	Exit	RALPH LAUREN CORPcl a	$0	–	-16,043	–	-1.01%	–
SKX	Exit	SKECHERScl a	$0	–	-71,090	–	-1.01%	–
QRTEA	Exit	LIBERTY INTERACTIVEser a	$0	–	-85,104	–	-1.06%	–
TER	Exit	TERADYNE INC COM	$0	–	-79,699	–	-1.07%	–
NGHC	Exit	NATIONAL GENERAL HOLDING CORP	$0	–	-78,154	–	-1.08%	–
MLHR	Exit	HERMAN MILLER	$0	–	-60,925	–	-1.08%	–
SMCI	Exit	SUPER MICRO COMPUTER, INC	$0	–	-75,961	–	-1.10%	–
OHI	Exit	OMEGA HEALTHCARE INVESTORS INC.	$0	–	-50,508	–	-1.12%	–
DIS	Exit	DISNEY WALT CO COM	$0	–	-19,384	–	-1.12%	–
CB	Exit	CHUBB LIMITED	$0	–	-14,549	–	-1.14%	–
EAT	Exit	BRINKER INTERNATIONAL	$0	–	-36,648	–	-1.15%	–
TSN	Exit	TYSON FOODScl a	$0	–	-24,821	–	-1.15%	–
BA	Exit	BOEING	$0	–	-14,120	–	-1.16%	–
LYB	Exit	LYONDELLBASELL INDUSTRIESsha	$0	–	-23,329	–	-1.17%	–
LIOX	Exit	LIONBRIDGE TECHNOLOGIES INC	$0	–	-381,011	–	-1.19%	–
APOG	Exit	APOGEE ENTERPRISES	$0	–	-42,771	–	-1.19%	–
CHKP	Exit	CHECK POINT SOFTWAREord	$0	–	-24,927	–	-1.20%	–
CUBI	Exit	CUSTOMERS BANCORP	$0	–	-77,625	–	-1.22%	–
WFC	Exit	WELLS FARGO AND CO	$0	–	-44,729	–	-1.23%	–
TGNA	Exit	TEGNA INC	$0	–	-91,396	–	-1.24%	–
SBGI	Exit	SINCLAIR BROADCASTING GROUPcl a	$0	–	-69,259	–	-1.24%	–
CBS	Exit	CBScl b	$0	–	-36,677	–	-1.25%	–
AMCX	Exit	AMC NETWORKS INCcl a	$0	–	-39,140	–	-1.26%	–
BC	Exit	BRUNSWICK CORP	$0	–	-42,566	–	-1.29%	–
CVS	Exit	CVS HEALTH	$0	–	-23,496	–	-1.30%	–
TXT	Exit	TEXTRON INC.	$0	–	-53,082	–	-1.31%	–
UNP	Exit	UNION PAC CORP COM	$0	–	-21,735	–	-1.32%	–
WHR	Exit	WHIRLPOOL CORP	$0	–	-13,123	–	-1.32%	–
ICFI	Exit	ICF INTERNATIONAL	$0	–	-48,144	–	-1.33%	–
LEN	Exit	LENNAR CORP COMcl a	$0	–	-50,482	–	-1.33%	–
BDC	Exit	BELDEN CDT	$0	–	-31,051	–	-1.33%	–
RE	Exit	EVEREST RE	$0	–	-11,379	–	-1.35%	–
GS	Exit	GOLDMAN SACHS	$0	–	-13,596	–	-1.36%	–
AXE	Exit	ANIXTER INTL	$0	–	-33,997	–	-1.36%	–
ON	Exit	ON SEMICONDUCTOR CORP	$0	–	-179,348	–	-1.38%	–
DOX	Exit	AMDOCS LTD.	$0	–	-38,497	–	-1.39%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-43,149	–	-1.40%	–
ARCC	Exit	ARES CAPITAL CORPORATION	$0	–	-145,048	–	-1.40%	–
DHI	Exit	D R HORTON INC COM	$0	–	-75,234	–	-1.41%	–
AAPL	Exit	APPLE	$0	–	-20,088	–	-1.41%	–
ICLR	Exit	ICON PLC	$0	–	-29,492	–	-1.42%	–
MGA	Exit	MAGNA INTL INC	$0	–	-53,263	–	-1.42%	–
USB	Exit	US BANCORP DEL COM	$0	–	-53,883	–	-1.44%	–
ABBV	Exit	ABBVIE INC	$0	–	-36,748	–	-1.44%	–
ARW	Exit	ARROW ELECTRS INC COM	$0	–	-36,409	–	-1.45%	–
WPP	Exit	WPP PLCadr	$0	–	-19,794	–	-1.45%	–
FL	Exit	FOOT LOCKER INC	$0	–	-34,675	–	-1.46%	–
DLX	Exit	DELUXE CORP.	$0	–	-35,609	–	-1.48%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-28,093	–	-1.49%	–
DGX	Exit	QUEST DIAGNOSTICS INC.	$0	–	-28,269	–	-1.49%	–
THO	Exit	THOR INDUSTRIES INC	$0	–	-28,288	–	-1.49%	–
SANM	Exit	SANMINA SCI CORP	$0	–	-84,379	–	-1.50%	–
LH	Exit	LABORATORY CORP. OF AMERICA	$0	–	-17,477	–	-1.50%	–
GT	Exit	GOODYEAR TIRE AND RUBBER	$0	–	-74,499	–	-1.50%	–
CMCSA	Exit	COMCAST CL Acl a	$0	–	-36,304	–	-1.50%	–
ZBH	Exit	ZIMMER BIOMET HOLDINGS	$0	–	-18,683	–	-1.51%	–
TWX	Exit	TIME WARNER INC COM	$0	–	-30,662	–	-1.52%	–
TEN	Exit	TENNECO INC	$0	–	-42,334	–	-1.54%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-26,612	–	-1.57%	–
FDX	Exit	FEDEX CORP	$0	–	-14,711	–	-1.60%	–
MSCC	Exit	MICROSEMI CORP	$0	–	-61,344	–	-1.60%	–
INTC	Exit	INTEL CORP COM	$0	–	-68,791	–	-1.62%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC CL Bcl b	$0	–	-33,292	–	-2.99%	–

Q3 2016

			Value		Shares		↓ Weighting
BRKB	Sell	BERKSHIRE HATHAWAY INC CL Bcl b	$4,810,000	-1.4%	33,292	-1.1%	2.99%	-4.2%
INTC	Sell	INTEL CORP COM	$2,597,000	+6.8%	68,791	-7.2%	1.62%	+3.7%
MSCC	Sell	MICROSEMI CORP	$2,575,000	+18.5%	61,344	-7.7%	1.60%	+15.1%
FDX	Sell	FEDEX CORP	$2,570,000	+9.4%	14,711	-5.0%	1.60%	+6.2%
LRCX	Sell	LAM RESEARCH CORP	$2,520,000	-6.1%	26,612	-16.7%	1.57%	-8.8%
TEN	Buy	TENNECO INC	$2,467,000	+28.9%	42,334	+3.1%	1.54%	+25.2%
TWX	Sell	TIME WARNER INC COM	$2,441,000	+7.3%	30,662	-0.9%	1.52%	+4.3%
ZBH	Sell	ZIMMER BIOMET HOLDINGS	$2,429,000	-6.1%	18,683	-13.1%	1.51%	-8.9%
CMCSA	Sell	COMCAST CL Acl a	$2,408,000	-4.7%	36,304	-6.4%	1.50%	-7.5%
GT	Sell	GOODYEAR TIRE AND RUBBER	$2,406,000	+17.1%	74,499	-7.0%	1.50%	+13.7%
LH	Sell	LABORATORY CORP. OF AMERICA	$2,403,000	-5.5%	17,477	-10.5%	1.50%	-8.2%
SANM	Buy	SANMINA SCI CORP	$2,402,000	+44.2%	84,379	+35.8%	1.50%	+40.0%
THO	Sell	THOR INDUSTRIES INC	$2,396,000	-10.5%	28,288	-31.6%	1.49%	-13.1%
DGX	Sell	QUEST DIAGNOSTICS INC.	$2,392,000	-2.0%	28,269	-5.8%	1.49%	-4.9%
OMC	Sell	OMNICOM GROUP INC	$2,388,000	-3.3%	28,093	-7.3%	1.49%	-6.1%
DLX	Sell	DELUXE CORP.	$2,379,000	-8.3%	35,609	-8.8%	1.48%	-10.9%
FL	Sell	FOOT LOCKER INC	$2,348,000	+22.9%	34,675	-0.4%	1.46%	+19.3%
WPP	Sell	WPP PLCadr	$2,330,000	+8.4%	19,794	-3.8%	1.45%	+5.3%
ARW	Sell	ARROW ELECTRS INC COM	$2,329,000	-3.8%	36,409	-6.9%	1.45%	-6.6%
ABBV	Sell	ABBVIE INC	$2,318,000	-6.7%	36,748	-8.4%	1.44%	-9.4%
USB	Sell	US BANCORP DEL COM	$2,311,000	+5.7%	53,883	-0.6%	1.44%	+2.6%
MGA	Buy	MAGNA INTL INC	$2,288,000	+120.4%	53,263	+79.9%	1.42%	+113.8%
ICLR	New	ICON PLC	$2,282,000	–	29,492	–	1.42%	–
AAPL	Sell	APPLE	$2,271,000	+17.7%	20,088	-0.5%	1.41%	+14.3%
DHI	Sell	D R HORTON INC COM	$2,272,000	-10.7%	75,234	-6.9%	1.41%	-13.3%
ARCC	Sell	ARES CAPITAL CORPORATION	$2,248,000	+7.0%	145,048	-1.9%	1.40%	+3.9%
VZ	Sell	VERIZON COMMUNICATIONS	$2,243,000	-11.4%	43,149	-4.8%	1.40%	-14.0%
DOX	Buy	AMDOCS LTD.	$2,227,000	+7.3%	38,497	+7.1%	1.39%	+4.1%
ON	Sell	ON SEMICONDUCTOR CORP	$2,210,000	+36.5%	179,348	-2.3%	1.38%	+32.6%
GS	Sell	GOLDMAN SACHS	$2,193,000	+7.6%	13,596	-0.9%	1.36%	+4.4%
AXE	Buy	ANIXTER INTL	$2,193,000	+39.9%	33,997	+15.6%	1.36%	+35.8%
RE	Sell	EVEREST RE	$2,162,000	-2.0%	11,379	-5.8%	1.35%	-4.8%
BDC	Sell	BELDEN CDT	$2,142,000	+8.8%	31,051	-4.7%	1.33%	+5.6%
LEN	Sell	LENNAR CORP COMcl a	$2,137,000	-11.5%	50,482	-3.6%	1.33%	-14.1%
ICFI	Sell	ICF INTERNATIONAL	$2,134,000	+4.9%	48,144	-3.2%	1.33%	+1.8%
WHR	Buy	WHIRLPOOL CORP	$2,128,000	+42.9%	13,123	+46.8%	1.32%	+38.7%
UNP	Sell	UNION PAC CORP COM	$2,120,000	+11.6%	21,735	-0.1%	1.32%	+8.4%
TXT	Buy	TEXTRON INC.	$2,110,000	+21.3%	53,082	+11.5%	1.31%	+17.7%
CVS	Buy	CVS HEALTH	$2,091,000	+27.0%	23,496	+36.6%	1.30%	+23.3%
BC	Buy	BRUNSWICK CORP	$2,076,000	+567.5%	42,566	+520.5%	1.29%	+549.2%
AMCX	Buy	AMC NETWORKS INCcl a	$2,030,000	-5.4%	39,140	+10.1%	1.26%	-8.2%
CBS	Sell	CBScl b	$2,008,000	-1.0%	36,677	-1.5%	1.25%	-3.8%
SBGI	Buy	SINCLAIR BROADCASTING GROUPcl a	$2,000,000	-3.2%	69,259	+0.1%	1.24%	-6.0%
TGNA	Sell	TEGNA INC	$1,998,000	-6.9%	91,396	-1.3%	1.24%	-9.6%
WFC	Sell	WELLS FARGO AND CO	$1,981,000	-7.0%	44,729	-0.6%	1.23%	-9.7%
CUBI	Sell	CUSTOMERS BANCORP	$1,953,000	-1.5%	77,625	-1.6%	1.22%	-4.3%
CHKP	Sell	CHECK POINT SOFTWAREord	$1,935,000	-2.8%	24,927	-0.2%	1.20%	-5.6%
APOG	Sell	APOGEE ENTERPRISES	$1,911,000	-3.7%	42,771	-0.1%	1.19%	-6.4%
LIOX	New	LIONBRIDGE TECHNOLOGIES INC	$1,905,000	–	381,011	–	1.19%	–
LYB	Buy	LYONDELLBASELL INDUSTRIESsha	$1,882,000	+29.1%	23,329	+19.1%	1.17%	+25.3%
BA	Buy	BOEING	$1,860,000	+1.5%	14,120	+0.1%	1.16%	-1.4%
TSN	Sell	TYSON FOODScl a	$1,853,000	+10.4%	24,821	-1.2%	1.15%	+7.2%
EAT	Sell	BRINKER INTERNATIONAL	$1,848,000	-11.7%	36,648	-20.3%	1.15%	-14.3%
CB	Buy	CHUBB LIMITED	$1,828,000	-3.8%	14,549	+0.1%	1.14%	-6.6%
DIS	Sell	DISNEY WALT CO COM	$1,800,000	-5.9%	19,384	-0.9%	1.12%	-8.6%
OHI	New	OMEGA HEALTHCARE INVESTORS INC.	$1,791,000	–	50,508	–	1.12%	–
SMCI	Sell	SUPER MICRO COMPUTER, INC	$1,775,000	-6.5%	75,961	-0.6%	1.10%	-9.3%
MLHR	Sell	HERMAN MILLER	$1,742,000	-10.9%	60,925	-6.9%	1.08%	-13.6%
NGHC	New	NATIONAL GENERAL HOLDING CORP	$1,738,000	–	78,154	–	1.08%	–
TER	Buy	TERADYNE INC COM	$1,720,000	+9.8%	79,699	+0.2%	1.07%	+6.6%
QRTEA	Sell	LIBERTY INTERACTIVEser a	$1,703,000	-21.9%	85,104	-1.0%	1.06%	-24.2%
SKX	Sell	SKECHERScl a	$1,628,000	-23.8%	71,090	-1.1%	1.01%	-26.1%
RL	Sell	RALPH LAUREN CORPcl a	$1,623,000	-20.0%	16,043	-29.1%	1.01%	-22.4%
CLS	New	CELESTICA INC	$1,607,000	–	148,391	–	1.00%	–
MYL	Buy	MYLAN	$1,570,000	-11.7%	41,176	+0.1%	0.98%	-14.4%
SNI	Buy	SCRIPPS NETWORK INTERACTIVE INC	$1,565,000	+2.8%	24,642	+0.7%	0.97%	-0.2%
MCK	Sell	MCKESSON	$1,507,000	-10.8%	9,035	-0.1%	0.94%	-13.4%
AGN	Buy	ALLERGAN PLC	$1,475,000	+0.3%	6,405	+0.6%	0.92%	-2.7%
PVH	Sell	PVH Corp	$1,342,000	+10.0%	12,147	-6.2%	0.84%	+6.8%
MHO	New	M/I HOMES INC	$1,211,000	–	51,363	–	0.75%	–
HON	Sell	HONEYWELL INTERNATIONAL INC	$1,187,000	-2.4%	10,182	-2.6%	0.74%	-5.3%
CAH	Buy	CARDINAL HEALTH	$1,147,000	+36.9%	14,767	+37.5%	0.71%	+33.0%
JCI	New	JOHNSON CTLS INC	$1,131,000	–	24,314	–	0.70%	–
AGX	Sell	ARGAN	$1,098,000	-21.0%	18,545	-44.3%	0.68%	-23.2%
LBTYK	Buy	LIBERTY GLOBAL PLC CL Ccl c	$1,026,000	+16.7%	31,068	+1.2%	0.64%	+13.3%
TPVG	Buy	TRIPLE POINT VENTURE GROWTH	$997,000	+53.9%	94,025	+53.8%	0.62%	+49.6%
TSQ	Buy	TOWNSQUARE MEDIA INCcl a	$827,000	+19.7%	88,552	+1.1%	0.52%	+16.3%
CAA	Sell	CALATLANTIC	$755,000	-9.7%	22,590	-0.7%	0.47%	-12.3%
CAC	Sell	CAMDEN NATIONAL CORP	$695,000	-3.1%	14,553	-14.7%	0.43%	-5.9%
SCS	New	STEELCASE INCcl a	$639,000	–	46,009	–	0.40%	–
CCL	New	CARNIVAL CORP.unit	$609,000	–	12,475	–	0.38%	–
CNBKA	Sell	CENTURY BANCORPcl a	$536,000	+4.1%	11,825	-2.9%	0.33%	+1.2%
M	Buy	MACY'S GROUP	$507,000	+10.7%	13,694	+0.5%	0.32%	+7.5%
FBIZ	Buy	FIRST BUSINESS FINANCIAL SERVICES	$477,000	+1.3%	20,283	+1.1%	0.30%	-1.7%
HOFT	New	HOOKER FURNITURE CORP	$455,000	–	18,588	–	0.28%	–
SMBC	Buy	SOUTHERN MISSOURI BANCORP INC	$448,000	+57.2%	17,988	+48.7%	0.28%	+52.5%
GBX	Exit	GREENBRIER COMPANIES	$0	–	-14,455	–	-0.27%	–
HMHC	Exit	HOUGHTON MIFFLIN HARCOURT CO	$0	–	-47,366	–	-0.47%	–
EXPR	Exit	EXPRESS INC	$0	–	-57,808	–	-0.54%	–
ACM	Exit	AECOM TECH CORP.	$0	–	-29,222	–	-0.60%	–
ESND	Exit	ESSENDANT INC	$0	–	-33,545	–	-0.66%	–
SMP	Exit	STANDARD MOTOR PRODUCTS INC	$0	–	-28,922	–	-0.74%	–
JCI	Exit	JOHNSON CTLS INC	$0	–	-28,979	–	-0.82%	–
NVGS	Exit	NAVIGATOR HOLDINGS LTD	$0	–	-111,984	–	-0.83%	–
SWKS	Exit	SKYWORKS SOLUTIONS	$0	–	-28,272	–	-1.15%	–
PRU	Exit	PRUDENTIAL FINANCIAL INC	$0	–	-25,537	–	-1.17%	–
DECK	Exit	DECKERS OUTDOOR CORP	$0	–	-32,265	–	-1.19%	–
AVT	Exit	AVNET INC COM	$0	–	-50,401	–	-1.31%	–

Q2 2016

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC CL Bcl b	$4,876,000	–	33,676	–	3.13%	–
LRCX	New	LAM RESEARCH CORP	$2,685,000	–	31,937	–	1.72%	–
THO	New	THOR INDUSTRIES INC	$2,676,000	–	41,333	–	1.72%	–
DLX	New	DELUXE CORP.	$2,593,000	–	39,065	–	1.66%	–
ZBH	New	ZIMMER BIOMET HOLDINGS	$2,588,000	–	21,495	–	1.66%	–
DHI	New	D R HORTON INC COM	$2,543,000	–	80,781	–	1.63%	–
LH	New	LABORATORY CORP. OF AMERICA	$2,543,000	–	19,523	–	1.63%	–
VZ	New	VERIZON COMMUNICATIONS	$2,531,000	–	45,327	–	1.62%	–
CMCSA	New	COMCAST CL Acl a	$2,528,000	–	38,785	–	1.62%	–
ABBV	New	ABBVIE INC	$2,485,000	–	40,138	–	1.59%	–
OMC	New	OMNICOM GROUP INC	$2,469,000	–	30,293	–	1.58%	–
DGX	New	QUEST DIAGNOSTICS INC.	$2,442,000	–	30,000	–	1.57%	–
INTC	New	INTEL CORP COM	$2,431,000	–	74,108	–	1.56%	–
ARW	New	ARROW ELECTRS INC COM	$2,421,000	–	39,114	–	1.55%	–
LEN	New	LENNAR CORP COMcl a	$2,415,000	–	52,378	–	1.55%	–
FDX	New	FEDEX CORP	$2,349,000	–	15,479	–	1.51%	–
TWX	New	TIME WARNER INC COM	$2,274,000	–	30,926	–	1.46%	–
RE	New	EVEREST RE	$2,206,000	–	12,076	–	1.41%	–
USB	New	US BANCORP DEL COM	$2,186,000	–	54,198	–	1.40%	–
QRTEA	New	LIBERTY INTERACTIVE	$2,180,000	–	85,947	–	1.40%	–
MSCC	New	MICROSEMI CORP	$2,173,000	–	66,497	–	1.39%	–
WPP	New	WPP PLCadr	$2,150,000	–	20,566	–	1.38%	–
AMCX	New	AMC NETWORKS INCcl a	$2,147,000	–	35,542	–	1.38%	–
TGNA	New	TEGNA INC	$2,146,000	–	92,641	–	1.38%	–
SKX	New	SKECHERScl a	$2,137,000	–	71,910	–	1.37%	–
WFC	New	WELLS FARGO AND CO	$2,129,000	–	44,980	–	1.36%	–
ARCC	New	ARES CAPITAL CORPORATION	$2,100,000	–	147,872	–	1.35%	–
EAT	New	BRINKER INTERNATIONAL	$2,093,000	–	45,961	–	1.34%	–
DOX	New	AMDOCS LTD.	$2,076,000	–	35,959	–	1.33%	–
SBGI	New	SINCLAIR BROADCASTING GROUPcl a	$2,067,000	–	69,210	–	1.32%	–
GT	New	GOODYEAR TIRE AND RUBBER	$2,055,000	–	80,079	–	1.32%	–
AVT	New	AVNET INC COM	$2,042,000	–	50,401	–	1.31%	–
GS	New	GOLDMAN SACHS	$2,038,000	–	13,719	–	1.31%	–
ICFI	New	ICF INTERNATIONAL	$2,035,000	–	49,756	–	1.30%	–
RL	New	RALPH LAUREN CORPcl a	$2,029,000	–	22,642	–	1.30%	–
CBS	New	CBScl b	$2,028,000	–	37,248	–	1.30%	–
CHKP	New	CHECK POINT SOFTWAREord	$1,990,000	–	24,979	–	1.28%	–
APOG	New	APOGEE ENTERPRISES	$1,984,000	–	42,806	–	1.27%	–
CUBI	New	CUSTOMERS BANCORP	$1,982,000	–	78,868	–	1.27%	–
BDC	New	BELDEN CDT	$1,968,000	–	32,599	–	1.26%	–
MLHR	New	HERMAN MILLER	$1,956,000	–	65,448	–	1.25%	–
AAPL	New	APPLE	$1,929,000	–	20,180	–	1.24%	–
TEN	New	TENNECO INC	$1,914,000	–	41,062	–	1.23%	–
DIS	New	DISNEY WALT CO COM	$1,913,000	–	19,555	–	1.23%	–
FL	New	FOOT LOCKER INC	$1,910,000	–	34,818	–	1.22%	–
CB	New	CHUBB LIMITED	$1,901,000	–	14,540	–	1.22%	–
SMCI	New	SUPER MICRO COMPUTER, INC	$1,899,000	–	76,401	–	1.22%	–
UNP	New	UNION PAC CORP COM	$1,899,000	–	21,767	–	1.22%	–
DECK	New	DECKERS OUTDOOR CORP	$1,856,000	–	32,265	–	1.19%	–
BA	New	BOEING	$1,832,000	–	14,110	–	1.18%	–
PRU	New	PRUDENTIAL FINANCIAL INC	$1,822,000	–	25,537	–	1.17%	–
SWKS	New	SKYWORKS SOLUTIONS	$1,789,000	–	28,272	–	1.15%	–
MYL	New	MYLAN	$1,779,000	–	41,144	–	1.14%	–
TXT	New	TEXTRON INC.	$1,740,000	–	47,600	–	1.12%	–
MCK	New	MCKESSON	$1,689,000	–	9,047	–	1.08%	–
TSN	New	TYSON FOODScl a	$1,678,000	–	25,125	–	1.08%	–
SANM	New	SANMINA SCI CORP	$1,666,000	–	62,149	–	1.07%	–
CVS	New	CVS HEALTH	$1,647,000	–	17,206	–	1.06%	–
ON	New	ON SEMICONDUCTOR CORP	$1,619,000	–	183,540	–	1.04%	–
TER	New	TERADYNE INC COM	$1,567,000	–	79,559	–	1.00%	–
AXE	New	ANIXTER INTL	$1,567,000	–	29,419	–	1.00%	–
SNI	New	SCRIPPS NETWORK INTERACTIVE INC	$1,523,000	–	24,464	–	0.98%	–
WHR	New	WHIRLPOOL CORP	$1,489,000	–	8,937	–	0.96%	–
AGN	New	ALLERGAN PLC	$1,471,000	–	6,365	–	0.94%	–
LYB	New	LYONDELLBASELL INDUSTRIES	$1,458,000	–	19,595	–	0.94%	–
AGX	New	ARGAN	$1,389,000	–	33,285	–	0.89%	–
NVGS	New	NAVIGATOR HOLDINGS LTD	$1,288,000	–	111,984	–	0.83%	–
JCI	New	JOHNSON CTLS INC	$1,283,000	–	28,979	–	0.82%	–
PVH	New	PVH Corp	$1,220,000	–	12,948	–	0.78%	–
HON	New	HONEYWELL INTERNATIONAL INC	$1,216,000	–	10,453	–	0.78%	–
SMP	New	STANDARD MOTOR PRODUCTS INC	$1,151,000	–	28,922	–	0.74%	–
MGA	New	MAGNA INTL INC	$1,038,000	–	29,606	–	0.67%	–
ESND	New	ESSENDANT INC	$1,025,000	–	33,545	–	0.66%	–
ACM	New	AECOM TECH CORP.	$928,000	–	29,222	–	0.60%	–
LBTYK	New	LIBERTY GLOBAL PLC CL Ccl c	$879,000	–	30,690	–	0.56%	–
EXPR	New	EXPRESS INC	$839,000	–	57,808	–	0.54%	–
CAH	New	CARDINAL HEALTH	$838,000	–	10,740	–	0.54%	–
CAA	New	CALATLANTIC	$836,000	–	22,760	–	0.54%	–
HMHC	New	HOUGHTON MIFFLIN HARCOURT CO	$740,000	–	47,366	–	0.47%	–
CAC	New	CAMDEN NATIONAL CORP	$717,000	–	17,068	–	0.46%	–
TSQ	New	TOWNSQUARE MEDIA INCcl a	$691,000	–	87,614	–	0.44%	–
TPVG	New	TRIPLE POINT VENTURE GROWTH	$648,000	–	61,144	–	0.42%	–
CNBKA	New	CENTURY BANCORPcl a	$515,000	–	12,176	–	0.33%	–
LBTYA	New	LIBERTY GLOBAL PLC CL Acl a	$481,000	–	16,540	–	0.31%	–
FBIZ	New	FIRST BUSINESS FINANCIAL SERVICES	$471,000	–	20,058	–	0.30%	–
M	New	MACY'S GROUP	$458,000	–	13,624	–	0.29%	–
GBX	New	GREENBRIER COMPANIES	$421,000	–	14,455	–	0.27%	–
BC	New	BRUNSWICK CORP	$311,000	–	6,860	–	0.20%	–
SMBC	New	SOUTHERN MISSOURI BANCORP INC	$285,000	–	12,100	–	0.18%	–

Q4 2015

			Value		Shares		↓ Weighting
BEL	Exit	BELMOND LTDcl a	$0	–	-21,055	–	-0.03%	–
OSK	Exit	OSHKOSH CORP	$0	–	-6,550	–	-0.04%	–
SMBC	Exit	SOUTHERN MISSOURI BANCORP INC	$0	–	-12,422	–	-0.04%	–
TSQ	Exit	TOWNSQUARE MEDIA INCcl a	$0	–	-28,545	–	-0.04%	–
HRG	Exit	HRG GROUP INC	$0	–	-28,600	–	-0.05%	–
SMP	Exit	STANDARD MOTOR PRODUCTS INC	$0	–	-9,979	–	-0.06%	–
SWFT	Exit	SWIFT TRANSPORTATIONcl a	$0	–	-25,975	–	-0.06%	–
CAC	Exit	CAMDEN NATIONAL CORP	$0	–	-11,957	–	-0.08%	–
CNBKA	Exit	CENTURY BANCORPcl a	$0	–	-12,199	–	-0.08%	–
TPVG	Exit	TRIPLE POINT VENTURE GROWTH	$0	–	-62,165	–	-0.10%	–
FBIZ	Exit	FIRST BUSINESS FINANCIAL SERVICES	$0	–	-27,436	–	-0.10%	–
TJX	Exit	TJX COMPANIES	$0	–	-9,357	–	-0.10%	–
PB	Exit	PROSPERITY BANCSHARES INC	$0	–	-14,765	–	-0.11%	–
COHU	Exit	COHU INC COM	$0	–	-80,527	–	-0.12%	–
WNC	Exit	WABASH NATIONAL	$0	–	-89,430	–	-0.15%	–
VSH	Exit	VISHAY INTERTECHNOLOGY INC	$0	–	-108,431	–	-0.16%	–
ACM	Exit	AECOM TECH CORP.	$0	–	-39,225	–	-0.17%	–
AMKR	Exit	AMKOR TECHNOLOGY INC	$0	–	-268,758	–	-0.19%	–
GBDC	Exit	GOLUB CAPITAL BDC	$0	–	-75,500	–	-0.19%	–
HMHC	Exit	HOUGHTON MIFFLIN HARCOURT CO	$0	–	-76,783	–	-0.24%	–
KS	Exit	KAPSTONE PAPER AND PACKAGING	$0	–	-99,273	–	-0.26%	–
CUBI	Exit	CUSTOMERS BANCORP	$0	–	-73,606	–	-0.30%	–
M	Exit	MACY'S GROUP	$0	–	-39,501	–	-0.32%	–
NVGS	Exit	NAVIGATOR HOLDINGS LTD	$0	–	-155,149	–	-0.32%	–
PLXS	Exit	PLEXUS CORP	$0	–	-62,245	–	-0.38%	–
AAPL	Exit	APPLE	$0	–	-28,099	–	-0.49%	–
LBTYA	Exit	LIBERTY GLOBAL PLC CL Acl a	$0	–	-82,103	–	-0.55%	–
MTH	Exit	MERITAGE CORP	$0	–	-120,115	–	-0.69%	–
GBX	Exit	GREENBRIER COMPANIES	$0	–	-143,530	–	-0.72%	–
BDC	Exit	BELDEN CDT	$0	–	-108,725	–	-0.80%	–
LBTYK	Exit	LIBERTY GLOBAL PLC CL Ccl c	$0	–	-123,948	–	-0.80%	–
AMAG	Exit	AMAG PHARMACEUTICALS	$0	–	-131,240	–	-0.82%	–
EMN	Exit	EASTMAN CHEMICAL CO	$0	–	-93,642	–	-0.95%	–
FINL	Exit	FINISH LINE INCcl a	$0	–	-314,930	–	-0.95%	–
PPC	Exit	PILGRIMS PRIDE CORP	$0	–	-293,060	–	-0.96%	–
PVH	Exit	PVH Corp	$0	–	-61,124	–	-0.98%	–
TGNA	Exit	TEGNA INC	$0	–	-280,350	–	-0.98%	–
VIAB	Exit	VIACOM INC CL Bcl b	$0	–	-147,088	–	-1.00%	–
JCI	Exit	JOHNSON CTLS INC	$0	–	-163,369	–	-1.06%	–
GATX	Exit	GATX CORP	$0	–	-154,395	–	-1.07%	–
DGX	Exit	QUEST DIAGNOSTICS INC.	$0	–	-111,006	–	-1.07%	–
BKE	Exit	THE BUCKLE	$0	–	-186,250	–	-1.08%	–
ZBH	Exit	ZIMMER BIOMET HOLDINGS	$0	–	-74,066	–	-1.09%	–
MCK	Exit	MCKESSON	$0	–	-38,293	–	-1.11%	–
WU	Exit	WESTERN UNION CO.	$0	–	-388,700	–	-1.12%	–
TMO	Exit	THERMO FISHER SCIENTIFIC	$0	–	-58,434	–	-1.12%	–
CBS	Exit	CBScl b	$0	–	-180,898	–	-1.13%	–
SPB	Exit	SPECTRUM BRANDS INC	$0	–	-79,279	–	-1.14%	–
MYL	Exit	MYLAN	$0	–	-180,575	–	-1.14%	–
PCAR	Exit	PACCAR INC	$0	–	-141,135	–	-1.16%	–
TSM	Exit	TAIWAN SEMICONDUCTORadr	$0	–	-366,130	–	-1.19%	–
CMI	Exit	CUMMINS INC	$0	–	-70,112	–	-1.19%	–
RLJ	Exit	RLJ LODGING TRUST	$0	–	-301,604	–	-1.20%	–
IM	Exit	INGRAM MICRO INCcl a	$0	–	-286,665	–	-1.22%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES	$0	–	-94,075	–	-1.23%	–
RYL	Exit	RYLAND GROUP	$0	–	-193,850	–	-1.24%	–
ARCC	Exit	ARES CAPITAL CORPORATION	$0	–	-546,690	–	-1.24%	–
HON	Exit	HONEYWELL INTERNATIONAL INC	$0	–	-84,390	–	-1.25%	–
GT	Exit	GOODYEAR TIRE AND RUBBER	$0	–	-272,942	–	-1.26%	–
WHR	Exit	WHIRLPOOL CORP	$0	–	-54,410	–	-1.26%	–
LH	Exit	LABORATORY CORP. OF AMERICA	$0	–	-73,916	–	-1.26%	–
ON	Exit	ON SEMICONDUCTOR CORP	$0	–	-856,525	–	-1.26%	–
DOX	Exit	AMDOCS LTD.	$0	–	-141,825	–	-1.27%	–
TWX	Exit	TIME WARNER INC COM	$0	–	-117,721	–	-1.27%	–
BXP	Exit	BOSTON PROPERTIES, INC.	$0	–	-69,015	–	-1.28%	–
SNY	Exit	SANOFIadr	$0	–	-173,432	–	-1.29%	–
ROST	Exit	ROSS STORES INC COM	$0	–	-172,309	–	-1.31%	–
ABBV	Exit	ABBVIE INC	$0	–	-154,855	–	-1.32%	–
QRTEA	Exit	LIBERTY INTERACTIVE	$0	–	-323,600	–	-1.33%	–
PRU	Exit	PRUDENTIAL FINANCIAL INC	$0	–	-111,762	–	-1.34%	–
MSCC	Exit	MICROSEMI CORP	$0	–	-259,861	–	-1.34%	–
DHI	Exit	D R HORTON INC COM	$0	–	-292,080	–	-1.34%	–
CVS	Exit	CVS HEALTH	$0	–	-89,505	–	-1.36%	–
DLX	Exit	DELUXE CORP.	$0	–	-156,987	–	-1.37%	–
GS	Exit	GOLDMAN SACHS	$0	–	-50,374	–	-1.37%	–
SWKS	Exit	SKYWORKS SOLUTIONS	$0	–	-105,899	–	-1.40%	–
MGA	Exit	MAGNA INTL INC	$0	–	-186,145	–	-1.40%	–
FDX	Exit	FEDEX CORP	$0	–	-62,826	–	-1.42%	–
FL	Exit	FOOT LOCKER INC	$0	–	-125,790	–	-1.42%	–
ESRX	Exit	EXPRESS-SCRIPTS INC.	$0	–	-111,817	–	-1.42%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-139,136	–	-1.44%	–
ACE	Exit	ACE LTD	$0	–	-89,097	–	-1.44%	–
THO	Exit	THOR INDUSTRIES INC	$0	–	-178,021	–	-1.45%	–
USB	Exit	US BANCORP DEL COM	$0	–	-225,685	–	-1.45%	–
WPP	Exit	WPP PLCadr	$0	–	-89,312	–	-1.46%	–
RE	Exit	EVEREST RE	$0	–	-53,915	–	-1.47%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-143,117	–	-1.47%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-215,054	–	-1.47%	–
INGR	Exit	INGREDION INC	$0	–	-108,931	–	-1.49%	–
AVT	Exit	AVNET INC COM	$0	–	-225,732	–	-1.51%	–
SMCI	Exit	SUPER MICRO COMPUTER, INC	$0	–	-356,759	–	-1.53%	–
DIS	Exit	DISNEY WALT CO COM	$0	–	-95,384	–	-1.53%	–
CMCSK	Exit	COMCAST CORP CL A SPLcl a spl	$0	–	-172,609	–	-1.55%	–
ARW	Exit	ARROW ELECTRS INC COM	$0	–	-178,846	–	-1.55%	–
AMCX	Exit	AMC NETWORKS INCcl a	$0	–	-135,232	–	-1.55%	–
WFC	Exit	WELLS FARGO AND CO	$0	–	-192,667	–	-1.55%	–
CHKP	Exit	CHECK POINT SOFTWAREord	$0	–	-125,479	–	-1.56%	–
PCP	Exit	PRECISION CASTPARTS CORP	$0	–	-44,941	–	-1.62%	–
AGN	Exit	ALLERGAN PLC	$0	–	-38,015	–	-1.62%	–
TSN	Exit	TYSON FOODScl a	$0	–	-245,720	–	-1.66%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC CL Bcl b	$0	–	-141,718	–	-2.90%	–

Q3 2015

			Value		Shares		↓ Weighting
BRKB	Sell	BERKSHIRE HATHAWAY INC CL Bcl b	$18,480,000	-6.8%	141,718	-2.7%	2.90%	+8.7%
TSN	Sell	TYSON FOODScl a	$10,591,000	-1.6%	245,720	-2.7%	1.66%	+14.7%
AGN	New	ALLERGAN PLC	$10,333,000	–	38,015	–	1.62%	–
PCP	Sell	PRECISION CASTPARTS CORP	$10,323,000	+12.4%	44,941	-2.2%	1.62%	+31.1%
CHKP	Sell	CHECK POINT SOFTWAREord	$9,954,000	-0.4%	125,479	-0.2%	1.56%	+16.1%
WFC	Sell	WELLS FARGO AND CO	$9,893,000	-11.1%	192,667	-2.7%	1.55%	+3.6%
AMCX	Sell	AMC NETWORKS INCcl a	$9,895,000	-17.6%	135,232	-7.9%	1.55%	-4.0%
ARW	Sell	ARROW ELECTRS INC COM	$9,887,000	-3.7%	178,846	-2.8%	1.55%	+12.3%
CMCSK	Sell	COMCAST CORP CL A SPLcl a spl	$9,880,000	-10.3%	172,609	-6.1%	1.55%	+4.6%
DIS	Sell	DISNEY WALT CO COM	$9,748,000	-23.4%	95,384	-14.5%	1.53%	-10.7%
SMCI	Buy	SUPER MICRO COMPUTER, INC	$9,725,000	-4.2%	356,759	+3.9%	1.53%	+11.7%
AVT	Sell	AVNET INC COM	$9,634,000	+1.8%	225,732	-2.0%	1.51%	+18.7%
INGR	Sell	INGREDION INC	$9,511,000	-1.0%	108,931	-9.5%	1.49%	+15.4%
VZ	Buy	VERIZON COMMUNICATIONS	$9,357,000	+4.3%	215,054	+11.7%	1.47%	+21.6%
LRCX	Sell	LAM RESEARCH CORP	$9,350,000	-21.9%	143,117	-2.7%	1.47%	-8.9%
RE	Sell	EVEREST RE	$9,346,000	-7.3%	53,915	-2.7%	1.47%	+8.0%
WPP	Sell	WPP PLCadr	$9,291,000	-9.9%	89,312	-2.3%	1.46%	+5.1%
USB	Sell	US BANCORP DEL COM	$9,255,000	-10.5%	225,685	-5.3%	1.45%	+4.4%
THO	Buy	THOR INDUSTRIES INC	$9,221,000	-0.5%	178,021	+8.1%	1.45%	+16.0%
ACE	Sell	ACE LTD	$9,213,000	-0.2%	89,097	-1.8%	1.44%	+16.3%
OMC	Sell	OMNICOM GROUP INC	$9,169,000	-6.6%	139,136	-1.5%	1.44%	+8.9%
FL	Sell	FOOT LOCKER INC	$9,053,000	-27.2%	125,790	-32.2%	1.42%	-15.1%
ESRX	Sell	EXPRESS-SCRIPTS INC.	$9,053,000	-11.0%	111,817	-2.2%	1.42%	+3.8%
FDX	Buy	FEDEX CORP	$9,046,000	-7.4%	62,826	+9.6%	1.42%	+8.0%
MGA	Sell	MAGNA INTL INC	$8,937,000	-16.3%	186,145	-2.2%	1.40%	-2.4%
SWKS	Sell	SKYWORKS SOLUTIONS	$8,918,000	-21.3%	105,899	-2.7%	1.40%	-8.3%
DLX	Sell	DELUXE CORP.	$8,750,000	-11.1%	156,987	-1.1%	1.37%	+3.6%
GS	Buy	GOLDMAN SACHS	$8,753,000	+173.1%	50,374	+228.1%	1.37%	+218.6%
CVS	Sell	CVS HEALTH	$8,635,000	-17.2%	89,505	-10.0%	1.36%	-3.4%
DHI	Sell	D R HORTON INC COM	$8,575,000	+0.6%	292,080	-6.2%	1.34%	+17.4%
MSCC	Sell	MICROSEMI CORP	$8,529,000	-6.6%	259,861	-0.6%	1.34%	+8.9%
PRU	Buy	PRUDENTIAL FINANCIAL INC	$8,517,000	+0.1%	111,762	+14.9%	1.34%	+16.7%
QRTEA	Buy	LIBERTY INTERACTIVE	$8,488,000	+3.4%	323,600	+9.4%	1.33%	+20.5%
ABBV	Buy	ABBVIE INC	$8,426,000	-17.4%	154,855	+1.9%	1.32%	-3.7%
ROST	Sell	ROSS STORES INC COM	$8,352,000	-11.0%	172,309	-10.7%	1.31%	+3.8%
SNY	Sell	SANOFIadr	$8,233,000	-6.8%	173,432	-2.8%	1.29%	+8.7%
BXP	New	BOSTON PROPERTIES, INC.	$8,171,000	–	69,015	–	1.28%	–
TWX	Buy	TIME WARNER INC COM	$8,093,000	-18.4%	117,721	+3.8%	1.27%	-4.7%
DOX	Sell	AMDOCS LTD.	$8,067,000	-5.1%	141,825	-8.9%	1.27%	+10.7%
ON	Buy	ON SEMICONDUCTOR CORP	$8,051,000	-12.3%	856,525	+9.0%	1.26%	+2.2%
LH	Sell	LABORATORY CORP. OF AMERICA	$8,018,000	-17.3%	73,916	-7.6%	1.26%	-3.6%
WHR	New	WHIRLPOOL CORP	$8,012,000	–	54,410	–	1.26%	–
GT	Buy	GOODYEAR TIRE AND RUBBER	$8,005,000	+118.6%	272,942	+124.7%	1.26%	+154.8%
HON	Buy	HONEYWELL INTERNATIONAL INC	$7,991,000	-4.7%	84,390	+2.7%	1.25%	+11.2%
ARCC	Sell	ARES CAPITAL CORPORATION	$7,916,000	-13.1%	546,690	-1.3%	1.24%	+1.3%
RYL	Buy	RYLAND GROUP	$7,915,000	-3.0%	193,850	+10.1%	1.24%	+13.1%
LYB	New	LYONDELLBASELL INDUSTRIES	$7,842,000	–	94,075	–	1.23%	–
IM	Sell	INGRAM MICRO INCcl a	$7,809,000	-0.3%	286,665	-8.4%	1.22%	+16.2%
RLJ	Sell	RLJ LODGING TRUST	$7,622,000	-18.0%	301,604	-3.3%	1.20%	-4.3%
CMI	New	CUMMINS INC	$7,613,000	–	70,112	–	1.19%	–
TSM	Buy	TAIWAN SEMICONDUCTORadr	$7,597,000	-7.6%	366,130	+1.1%	1.19%	+7.7%
PCAR	New	PACCAR INC	$7,363,000	–	141,135	–	1.16%	–
MYL	Sell	MYLAN	$7,270,000	-42.3%	180,575	-2.7%	1.14%	-32.6%
SPB	Sell	SPECTRUM BRANDS INC	$7,255,000	-13.1%	79,279	-3.1%	1.14%	+1.3%
CBS	Sell	CBScl b	$7,218,000	-28.9%	180,898	-1.0%	1.13%	-17.1%
TMO	Sell	THERMO FISHER SCIENTIFIC	$7,145,000	-8.3%	58,434	-2.7%	1.12%	+7.0%
WU	Buy	WESTERN UNION CO.	$7,137,000	-9.6%	388,700	+0.1%	1.12%	+5.5%
MCK	Sell	MCKESSON	$7,085,000	-17.8%	38,293	-0.2%	1.11%	-4.1%
ZBH	Sell	ZIMMER BIOMET HOLDINGS	$6,957,000	-16.4%	74,066	-2.8%	1.09%	-2.6%
BKE	Sell	THE BUCKLE	$6,886,000	-21.1%	186,250	-2.3%	1.08%	-8.0%
DGX	New	QUEST DIAGNOSTICS INC.	$6,824,000	–	111,006	–	1.07%	–
GATX	Sell	GATX CORP	$6,817,000	-19.0%	154,395	-2.5%	1.07%	-5.6%
JCI	Buy	JOHNSON CTLS INC	$6,757,000	-13.8%	163,369	+3.2%	1.06%	+0.5%
VIAB	Sell	VIACOM INC CL Bcl b	$6,347,000	-35.0%	147,088	-2.7%	1.00%	-24.3%
TGNA	New	TEGNA INC	$6,277,000	–	280,350	–	0.98%	–
PVH	Sell	PVH Corp	$6,231,000	-28.8%	61,124	-19.5%	0.98%	-16.9%
PPC	Sell	PILGRIMS PRIDE CORP	$6,090,000	-10.4%	293,060	-0.9%	0.96%	+4.5%
FINL	Sell	FINISH LINE INCcl a	$6,078,000	-32.4%	314,930	-2.5%	0.95%	-21.1%
EMN	Buy	EASTMAN CHEMICAL CO	$6,061,000	-20.8%	93,642	+0.1%	0.95%	-7.7%
AMAG	New	AMAG PHARMACEUTICALS	$5,214,000	–	131,240	–	0.82%	–
LBTYK	Buy	LIBERTY GLOBAL PLC CL Ccl c	$5,084,000	-15.1%	123,948	+4.8%	0.80%	-0.9%
BDC	Buy	BELDEN CDT	$5,076,000	-41.8%	108,725	+1.3%	0.80%	-32.1%
GBX	Buy	GREENBRIER COMPANIES	$4,609,000	-26.8%	143,530	+6.7%	0.72%	-14.6%
MTH	Sell	MERITAGE CORP	$4,387,000	-25.3%	120,115	-3.7%	0.69%	-12.9%
LBTYA	Sell	LIBERTY GLOBAL PLC CL Acl a	$3,526,000	-22.7%	82,103	-2.6%	0.55%	-9.8%
AAPL	Sell	APPLE	$3,099,000	-14.1%	28,099	-2.4%	0.49%	0.0%
PLXS	Sell	PLEXUS CORP	$2,401,000	-68.1%	62,245	-63.7%	0.38%	-62.7%
NVGS	Sell	NAVIGATOR HOLDINGS LTD	$2,071,000	-34.4%	155,149	-6.9%	0.32%	-23.5%
M	New	MACY'S GROUP	$2,027,000	–	39,501	–	0.32%	–
CUBI	Sell	CUSTOMERS BANCORP	$1,892,000	-15.9%	73,606	-12.1%	0.30%	-2.0%
KS	Sell	KAPSTONE PAPER AND PACKAGING	$1,639,000	-69.5%	99,273	-57.3%	0.26%	-64.5%
HMHC	Sell	HOUGHTON MIFFLIN HARCOURT CO	$1,559,000	-23.9%	76,783	-5.5%	0.24%	-11.2%
AMKR	Sell	AMKOR TECHNOLOGY INC	$1,207,000	-28.6%	268,758	-5.0%	0.19%	-16.7%
ACM	Sell	AECOM TECH CORP.	$1,079,000	-17.3%	39,225	-0.5%	0.17%	-3.4%
VSH	Sell	VISHAY INTERTECHNOLOGY INC	$1,051,000	-22.5%	108,431	-6.7%	0.16%	-9.8%
PB	Buy	PROSPERITY BANCSHARES INC	$725,000	+14.0%	14,765	+34.0%	0.11%	+32.6%
TJX	Sell	TJX COMPANIES	$668,000	+6.2%	9,357	-1.6%	0.10%	+23.5%
FBIZ	Buy	FIRST BUSINESS FINANCIAL SERVICES	$645,000	+146.2%	27,436	+391.0%	0.10%	+188.6%
CNBKA	Buy	CENTURY BANCORPcl a	$497,000	+28.8%	12,199	+28.6%	0.08%	+50.0%
SWFT	New	SWIFT TRANSPORTATIONcl a	$390,000	–	25,975	–	0.06%	–
SMP	New	STANDARD MOTOR PRODUCTS INC	$348,000	–	9,979	–	0.06%	–
HRG	Sell	HRG GROUP INC	$335,000	-17.5%	28,600	-8.3%	0.05%	-3.6%
TSQ	Buy	TOWNSQUARE MEDIA INCcl a	$279,000	-21.2%	28,545	+9.6%	0.04%	-8.3%
SMBC	Buy	SOUTHERN MISSOURI BANCORP INC	$257,000	+22.4%	12,422	+11.7%	0.04%	+42.9%
	Exit	U. S. Treas Bonds	$0	–	-20,000	–	-0.00%	–
STAG	Exit	STAG INDUSTRIAL	$0	–	-100,365	–	-0.27%	–
FLR	Exit	FLUOR	$0	–	-123,021	–	-0.88%	–
URI	Exit	UNITED RENTALS	$0	–	-77,350	–	-0.91%	–
HUN	Exit	HUNTSMAN CORP	$0	–	-314,815	–	-0.94%	–
BEN	Exit	FRANKLIN RESOURCES	$0	–	-169,640	–	-1.12%	–
SSS	Exit	SOVRAN SELF STORAGE COM	$0	–	-96,873	–	-1.13%	–
TD	Exit	TORONTO DOMINION	$0	–	-202,982	–	-1.16%	–
WCC	Exit	WESCO INTERNATIONAL	$0	–	-127,750	–	-1.18%	–
RY	Exit	ROYAL BANK OF CANADA	$0	–	-148,889	–	-1.22%	–
SNX	Exit	SYNNEX CORP	$0	–	-125,243	–	-1.23%	–
UTX	Exit	UNITED TECHNOLOGIES CORP COM	$0	–	-84,741	–	-1.26%	–
B108PS	Exit	ACTAVIS	$0	–	-39,110	–	-1.60%	–

Q2 2015

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC CL Bcl b	$19,834,000	–	145,723	–	2.67%	–
DIS	New	DISNEY WALT CO COM	$12,731,000	–	111,538	–	1.71%	–
MYL	New	MYLAN	$12,593,000	–	185,573	–	1.69%	–
FL	New	FOOT LOCKER INC	$12,427,000	–	185,447	–	1.67%	–
AMCX	New	AMC NETWORKS INCcl a	$12,015,000	–	146,795	–	1.62%	–
LRCX	New	LAM RESEARCH CORP	$11,971,000	–	147,152	–	1.61%	–
B108PS	New	ACTAVIS	$11,868,000	–	39,110	–	1.60%	–
SWKS	New	SKYWORKS SOLUTIONS	$11,335,000	–	108,889	–	1.52%	–
WFC	New	WELLS FARGO AND CO	$11,133,000	–	197,957	–	1.50%	–
CMCSK	New	COMCAST CORP CL A SPLcl a	$11,018,000	–	183,815	–	1.48%	–
TSN	New	TYSON FOODScl a	$10,768,000	–	252,585	–	1.45%	–
MGA	New	MAGNA INTL INC	$10,679,000	–	190,399	–	1.44%	–
CVS	New	CVS HEALTH	$10,432,000	–	99,462	–	1.40%	–
USB	New	US BANCORP DEL COM	$10,341,000	–	238,265	–	1.39%	–
WPP	New	WPP PLCadr	$10,308,000	–	91,448	–	1.39%	–
ARW	New	ARROW ELECTRS INC COM	$10,267,000	–	184,001	–	1.38%	–
ABBV	New	ABBVIE INC	$10,207,000	–	151,910	–	1.37%	–
ESRX	New	EXPRESS-SCRIPTS INC.	$10,168,000	–	114,322	–	1.37%	–
SMCI	New	SUPER MICRO COMPUTER, INC	$10,155,000	–	343,311	–	1.37%	–
CBS	New	CBScl b	$10,145,000	–	182,787	–	1.36%	–
RE	New	EVEREST RE	$10,085,000	–	55,410	–	1.36%	–
CHKP	New	CHECK POINT SOFTWAREord	$9,998,000	–	125,678	–	1.34%	–
TWX	New	TIME WARNER INC COM	$9,912,000	–	113,401	–	1.33%	–
DLX	New	DELUXE CORP.	$9,846,000	–	158,800	–	1.32%	–
OMC	New	OMNICOM GROUP INC	$9,816,000	–	141,251	–	1.32%	–
VIAB	New	VIACOM INC CL Bcl b	$9,771,000	–	151,153	–	1.32%	–
FDX	New	FEDEX CORP	$9,770,000	–	57,337	–	1.31%	–
LH	New	LABORATORY CORP. OF AMERICA	$9,699,000	–	80,011	–	1.30%	–
INGR	New	INGREDION INC	$9,608,000	–	120,386	–	1.29%	–
AVT	New	AVNET INC COM	$9,465,000	–	230,232	–	1.27%	–
UTX	New	UNITED TECHNOLOGIES CORP COM	$9,400,000	–	84,741	–	1.26%	–
ROST	New	ROSS STORES INC COM	$9,384,000	–	193,054	–	1.26%	–
RLJ	New	RLJ LODGING TRUST	$9,293,000	–	312,044	–	1.25%	–
THO	New	THOR INDUSTRIES INC	$9,266,000	–	164,636	–	1.25%	–
ACE	New	ACE LTD	$9,229,000	–	90,761	–	1.24%	–
PCP	New	PRECISION CASTPARTS CORP	$9,184,000	–	45,950	–	1.24%	–
ON	New	ON SEMICONDUCTOR CORP	$9,184,000	–	785,635	–	1.24%	–
SNX	New	SYNNEX CORP	$9,167,000	–	125,243	–	1.23%	–
MSCC	New	MICROSEMI CORP	$9,134,000	–	261,346	–	1.23%	–
ARCC	New	ARES CAPITAL CORPORATION	$9,114,000	–	553,725	–	1.23%	–
RY	New	ROYAL BANK OF CANADA	$9,105,000	–	148,889	–	1.22%	–
FINL	New	FINISH LINE INCcl a	$8,985,000	–	322,968	–	1.21%	–
VZ	New	VERIZON COMMUNICATIONS	$8,973,000	–	192,505	–	1.21%	–
SNY	New	SANOFIadr	$8,838,000	–	178,437	–	1.19%	–
WCC	New	WESCO INTERNATIONAL	$8,769,000	–	127,750	–	1.18%	–
PVH	New	PVH Corp	$8,746,000	–	75,922	–	1.18%	–
BKE	New	THE BUCKLE	$8,724,000	–	190,607	–	1.17%	–
BDC	New	BELDEN CDT	$8,721,000	–	107,360	–	1.17%	–
TD	New	TORONTO DOMINION	$8,629,000	–	202,982	–	1.16%	–
MCK	New	MCKESSON	$8,623,000	–	38,358	–	1.16%	–
DHI	New	D R HORTON INC COM	$8,520,000	–	311,400	–	1.15%	–
PRU	New	PRUDENTIAL FINANCIAL INC	$8,512,000	–	97,262	–	1.14%	–
DOX	New	AMDOCS LTD.	$8,503,000	–	155,752	–	1.14%	–
SSS	New	SOVRAN SELF STORAGE COM	$8,419,000	–	96,873	–	1.13%	–
GATX	New	GATX CORP	$8,418,000	–	158,390	–	1.13%	–
HON	New	HONEYWELL INTERNATIONAL INC	$8,381,000	–	82,190	–	1.13%	–
SPB	New	SPECTRUM BRANDS INC	$8,349,000	–	81,857	–	1.12%	–
ZBH	New	ZIMMER BIOMET HOLDINGS	$8,325,000	–	76,216	–	1.12%	–
BEN	New	FRANKLIN RESOURCES	$8,317,000	–	169,640	–	1.12%	–
TSM	New	TAIWAN SEMICONDUCTORadr	$8,225,000	–	362,163	–	1.11%	–
QRTEA	New	LIBERTY INTERACTIVE	$8,211,000	–	295,900	–	1.10%	–
RYL	New	RYLAND GROUP	$8,162,000	–	176,026	–	1.10%	–
WU	New	WESTERN UNION CO.	$7,897,000	–	388,450	–	1.06%	–
JCI	New	JOHNSON CTLS INC	$7,839,000	–	158,269	–	1.06%	–
IM	New	INGRAM MICRO INCcl a	$7,833,000	–	312,953	–	1.05%	–
TMO	New	THERMO FISHER SCIENTIFIC	$7,791,000	–	60,041	–	1.05%	–
EMN	New	EASTMAN CHEMICAL CO	$7,655,000	–	93,554	–	1.03%	–
PLXS	New	PLEXUS CORP	$7,518,000	–	171,323	–	1.01%	–
HUN	New	HUNTSMAN CORP	$6,948,000	–	314,815	–	0.94%	–
PPC	New	PILGRIMS PRIDE CORP	$6,794,000	–	295,795	–	0.91%	–
URI	New	UNITED RENTALS	$6,777,000	–	77,350	–	0.91%	–
FLR	New	FLUOR	$6,521,000	–	123,021	–	0.88%	–
GBX	New	GREENBRIER COMPANIESord	$6,299,000	–	134,455	–	0.85%	–
LBTYK	New	LIBERTY GLOBAL PLC CL Ccl c	$5,986,000	–	118,228	–	0.80%	–
MTH	New	MERITAGE CORP	$5,872,000	–	124,695	–	0.79%	–
KS	New	KAPSTONE PAPER AND PACKAGING	$5,378,000	–	232,626	–	0.72%	–
LBTYA	New	LIBERTY GLOBAL PLC CL Acl a	$4,560,000	–	84,334	–	0.61%	–
GT	New	GOODYEAR TIRE AND RUBBER	$3,662,000	–	121,465	–	0.49%	–
AAPL	New	APPLE	$3,609,000	–	28,777	–	0.49%	–
GS	New	GOLDMAN SACHS	$3,205,000	–	15,352	–	0.43%	–
NVGS	New	NAVIGATOR HOLDINGS LTD	$3,157,000	–	166,702	–	0.42%	–
CUBI	New	CUSTOMERS BANCORP	$2,251,000	–	83,701	–	0.30%	–
HMHC	New	HOUGHTON MIFFLIN HARCOURT CO	$2,048,000	–	81,273	–	0.28%	–
STAG	New	STAG INDUSTRIAL	$2,007,000	–	100,365	–	0.27%	–
AMKR	New	AMKOR TECHNOLOGY INC	$1,691,000	–	282,846	–	0.23%	–
VSH	New	VISHAY INTERTECHNOLOGY INC	$1,357,000	–	116,205	–	0.18%	–
ACM	New	AECOM	$1,304,000	–	39,425	–	0.18%	–
GBDC	New	GOLUB CAPITAL BDC	$1,250,000	–	75,500	–	0.17%	–
WNC	New	WABASH NATIONAL	$1,121,000	–	89,430	–	0.15%	–
COHU	New	COHU INC COM	$1,065,000	–	80,527	–	0.14%	–
TPVG	New	TRIPLE POINT VENTURE GROWTH	$838,000	–	62,165	–	0.11%	–
PB	New	PROSPERITY BANCSHARES INC	$636,000	–	11,015	–	0.09%	–
TJX	New	TJX COMPANIES	$629,000	–	9,507	–	0.08%	–
CAC	New	CAMDEN NATIONAL CORP	$463,000	–	11,957	–	0.06%	–
HRG	New	HRG GROUP INC	$406,000	–	31,200	–	0.06%	–
CNBKA	New	CENTURY BANCORPcl a	$386,000	–	9,484	–	0.05%	–
TSQ	New	TOWNSQUARE MEDIA INCcl a	$354,000	–	26,043	–	0.05%	–
OSK	New	OSHKOSH CORP	$278,000	–	6,550	–	0.04%	–
FBIZ	New	FIRST BUSINESS FINANCIAL SERVICES	$262,000	–	5,588	–	0.04%	–
BEL	New	BELMOND LTDcl a	$263,000	–	21,055	–	0.04%	–
SMBC	New	SOUTHERN MISSOURI BANCORP INC	$210,000	–	11,122	–	0.03%	–
	New	U. S. Treas Bonds	$21,000	–	20,000	–	0.00%	–

Q4 2014

			Value		Shares		↓ Weighting
JRN	Exit	JOURNAL COMMUNICATIONS INCcl a	$0	–	-11,526	–	-0.01%	–
ETM	Exit	ENTERCOM COMMUNICATIONScl a	$0	–	-14,805	–	-0.02%	–
WCC	Exit	WESCO INTERNATIONAL	$0	–	-3,074	–	-0.03%	–
BEL	Exit	BELMOND LTDcl a	$0	–	-21,150	–	-0.04%	–
HOFT	Exit	HOOKER FURNITURE CORP	$0	–	-18,569	–	-0.04%	–
UFPT	Exit	UFP TECHNOLOGIES, INC	$0	–	-14,730	–	-0.05%	–
FBIZ	Exit	FIRST BUSINESS FINANCIAL SERVICES	$0	–	-8,420	–	-0.05%	–
COHU	Exit	COHU INC COM	$0	–	-32,800	–	-0.06%	–
GSTCQ	Exit	GASTAR EXPLORATION INC	$0	–	-82,000	–	-0.07%	–
NP	Exit	NEENAH PAPER	$0	–	-8,966	–	-0.07%	–
FISI	Exit	FINANCIAL INSTITUTIONS INC	$0	–	-22,195	–	-0.07%	–
INT	Exit	WORLD FUEL SERVICES CORP.	$0	–	-13,545	–	-0.08%	–
SYRG	Exit	SYNERGY RESOURCES INC.	$0	–	-45,045	–	-0.08%	–
TPVG	Exit	TRIPLE POINT VENTURE GROWTH	$0	–	-40,453	–	-0.08%	–
SYBT	Exit	STOCK YARDS BANCORP	$0	–	-20,118	–	-0.09%	–
CNRD	Exit	CONRAD INDUSTRIES	$0	–	-17,292	–	-0.09%	–
TJX	Exit	TJX COMPANIES	$0	–	-11,527	–	-0.10%	–
WGO	Exit	WINNEBAGO INDUSTRIES INC	$0	–	-31,740	–	-0.10%	–
SHLOQ	Exit	SHILOH INDUSTRIES	$0	–	-40,987	–	-0.10%	–
MCC	Exit	MEDLEY CAPITAL CORP	$0	–	-59,375	–	-0.10%	–
GBDC	Exit	GOLUB CAPITAL BDC	$0	–	-59,661	–	-0.14%	–
CCS	Exit	CENTURY COMMUNITIES INC	$0	–	-56,240	–	-0.14%	–
GT	Exit	GOODYEAR TIRE AND RUBBER	$0	–	-43,635	–	-0.14%	–
DRH	Exit	DIAMONDROCK HOSPITALITY	$0	–	-92,110	–	-0.17%	–
AXAS	Exit	ABRAXAS PETROLEUM CORP	$0	–	-249,840	–	-0.19%	–
APA	Exit	APACHE CP	$0	–	-14,427	–	-0.19%	–
MNTX	Exit	MANITEX INTERNATIONAL	$0	–	-120,481	–	-0.19%	–
PKG	Exit	PACKAGING CORP OF AMERICA	$0	–	-21,825	–	-0.20%	–
STAG	Exit	STAG INDUSTRIAL	$0	–	-72,545	–	-0.21%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-19,105	–	-0.23%	–
VSH	Exit	VISHAY INTERTECHNOLOGY INC	$0	–	-114,590	–	-0.23%	–
IM	Exit	INGRAM MICRO INCcl a	$0	–	-65,898	–	-0.24%	–
GS	Exit	GOLDMAN SACHS	$0	–	-11,345	–	-0.30%	–
GM	Exit	GENERAL MOTORS CO.	$0	–	-73,015	–	-0.33%	–
UTX	Exit	UNITED TECHNOLOGIES CORP COM	$0	–	-24,656	–	-0.37%	–
CSTM	Exit	CONSTELLIUM N.V.cl a	$0	–	-106,355	–	-0.37%	–
SNX	Exit	SYNNEX CORP	$0	–	-48,275	–	-0.44%	–
LBTYA	Exit	LIBERTY GLOBAL PLC CL A	$0	–	-106,676	–	-0.65%	–
LBTYK	Exit	LIBERTY GLOBAL PLC CL C	$0	–	-110,831	–	-0.65%	–
VLO	Exit	VALERO ENERGY CORP	$0	–	-115,312	–	-0.76%	–
A309PS	Exit	DIRECTV CO	$0	–	-65,841	–	-0.81%	–
DHI	Exit	D R HORTON INC COM	$0	–	-296,200	–	-0.87%	–
ARCC	Exit	ARES CAPITAL CORPORATION	$0	–	-377,550	–	-0.87%	–
FLEX	Exit	FLEXTRONICS INTERNATIONAL LTDord	$0	–	-594,041	–	-0.87%	–
PDCE	Exit	PDC ENERGY INC	$0	–	-122,379	–	-0.88%	–
FINL	Exit	FINISH LINE INCcl a	$0	–	-246,813	–	-0.88%	–
EMN	Exit	EASTMAN CHEMICAL CO	$0	–	-77,960	–	-0.90%	–
EPD	Exit	ENTERPRISE PRODUCT PARTNERS LP	$0	–	-159,013	–	-0.91%	–
JCI	Exit	JOHNSON CTLS INC	$0	–	-151,164	–	-0.95%	–
AGU	Exit	AGRIUM INC COM	$0	–	-74,857	–	-0.95%	–
MGA	Exit	MAGNA INTL INC	$0	–	-70,378	–	-0.95%	–
WU	Exit	WESTERN UNION CO.	$0	–	-417,215	–	-0.95%	–
DOV	Exit	DOVER CORP	$0	–	-84,325	–	-0.96%	–
DOX	Exit	AMDOCS LTD.	$0	–	-148,182	–	-0.97%	–
ATW	Exit	ATWOOD OCEANICS	$0	–	-155,786	–	-0.97%	–
MTH	Exit	MERITAGE CORP	$0	–	-193,792	–	-0.98%	–
PCP	Exit	PRECISION CASTPARTS CORP	$0	–	-29,609	–	-1.00%	–
HUN	Exit	HUNTSMAN CORP	$0	–	-271,960	–	-1.01%	–
LH	Exit	LABORATORY CORP. OF AMERICA	$0	–	-69,949	–	-1.01%	–
SMCI	Exit	SUPER MICRO COMPUTER, INC	$0	–	-244,240	–	-1.02%	–
ON	Exit	ON SEMICONDUCTOR CORP	$0	–	-821,255	–	-1.05%	–
SSS	Exit	SOVRAN SELF STORAGE COM	$0	–	-99,209	–	-1.05%	–
RLJ	Exit	RLJ LODGING TRUST	$0	–	-261,581	–	-1.06%	–
FLR	Exit	FLUOR	$0	–	-112,896	–	-1.07%	–
HON	Exit	HONEYWELL INTERNATIONAL INC	$0	–	-83,578	–	-1.11%	–
KS	Exit	KAPSTONE PAPER AND PACKAGING	$0	–	-280,743	–	-1.12%	–
PVH	Exit	PVH Corp	$0	–	-64,909	–	-1.12%	–
BKE	Exit	THE BUCKLE	$0	–	-173,557	–	-1.12%	–
DLX	Exit	DELUXE CORP.	$0	–	-146,125	–	-1.15%	–
MDP	Exit	MEREDITH CORP	$0	–	-191,918	–	-1.17%	–
CBS	Exit	CBScl b	$0	–	-157,000	–	-1.20%	–
MCK	Exit	MCKESSON	$0	–	-43,133	–	-1.20%	–
INGR	Exit	INGREDION INC	$0	–	-112,509	–	-1.21%	–
SPB	Exit	SPECTRUM BRANDS INC	$0	–	-94,719	–	-1.22%	–
NBL	Exit	NOBLE ENERGY	$0	–	-125,704	–	-1.22%	–
ZBH	Exit	ZIMMER HOLDINGS	$0	–	-86,763	–	-1.24%	–
VIAB	Exit	VIACOM INC CL Bcl b	$0	–	-114,098	–	-1.25%	–
WLL	Exit	WHITING PETROLEUM	$0	–	-113,783	–	-1.26%	–
BAX	Exit	BAXTER INTERNATIONAL	$0	–	-124,346	–	-1.27%	–
USB	Exit	US BANCORP DEL COM	$0	–	-213,515	–	-1.27%	–
WPP	Exit	WPP PLCadr	$0	–	-89,557	–	-1.28%	–
MYL	Exit	MYLAN	$0	–	-199,406	–	-1.29%	–
RY	Exit	ROYAL BANK OF CANADAadr	$0	–	-127,598	–	-1.30%	–
ESRX	Exit	EXPRESS-SCRIPTS INC.	$0	–	-129,479	–	-1.30%	–
TD	Exit	TORONTO DOMINION	$0	–	-187,002	–	-1.32%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-184,865	–	-1.32%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-134,884	–	-1.32%	–
ARW	Exit	ARROW ELECTRS INC COM	$0	–	-168,800	–	-1.33%	–
KLAC	Exit	KLA-TENCOR CORP COM	$0	–	-118,837	–	-1.33%	–
RE	Exit	EVEREST RE	$0	–	-57,835	–	-1.33%	–
ORCL	Exit	ORACLE	$0	–	-244,949	–	-1.34%	–
AVT	Exit	AVNET INC COM	$0	–	-226,612	–	-1.34%	–
QCOM	Exit	QUALCOMM INC	$0	–	-127,520	–	-1.36%	–
QRTEA	Exit	LIBERTY INTERACTIVE	$0	–	-336,045	–	-1.36%	–
TSN	Exit	TYSON FOODScl a	$0	–	-244,397	–	-1.37%	–
ROST	Exit	ROSS STORES INC COM	$0	–	-127,509	–	-1.37%	–
TMO	Exit	THERMO FISHER SCIENTIFIC	$0	–	-79,249	–	-1.37%	–
SNDK	Exit	SANDISK CORPORATION	$0	–	-99,620	–	-1.39%	–
SWKS	Exit	SKYWORKS SOLUTIONS	$0	–	-169,305	–	-1.40%	–
BCEI	Exit	BONANZA CREEK ENERGY	$0	–	-173,293	–	-1.40%	–
ACE	Exit	ACE LTD	$0	–	-94,166	–	-1.41%	–
CVS	Exit	CVS HEALTH	$0	–	-124,326	–	-1.41%	–
SNY	Exit	SANOFIadr	$0	–	-178,410	–	-1.43%	–
WFC	Exit	WELLS FARGO AND CO	$0	–	-194,292	–	-1.44%	–
WYND	Exit	WYNDHAM WORLDWIDE CORP	$0	–	-124,591	–	-1.44%	–
TWX	Exit	TIME WARNER INC COM	$0	–	-134,741	–	-1.44%	–
DIS	Exit	DISNEY WALT CO COM	$0	–	-114,360	–	-1.45%	–
CMCSK	Exit	COMCAST CORP CL A SPLcl a spl	$0	–	-191,863	–	-1.46%	–
CHKP	Exit	CHECK POINT SOFTWAREord	$0	–	-149,071	–	-1.47%	–
MEOH	Exit	METHANEX CORP.	$0	–	-155,054	–	-1.48%	–
FL	Exit	FOOT LOCKER INC	$0	–	-189,616	–	-1.50%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-142,226	–	-1.51%	–
B108PS	Exit	ACTAVIS INC	$0	–	-45,177	–	-1.55%	–
FDX	Exit	FEDEX CORP	$0	–	-68,560	–	-1.58%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC CL Bcl b	$0	–	-156,126	–	-3.07%	–

Q3 2014

			Value		Shares		↓ Weighting
BRKB	Buy	BERKSHIRE HATHAWAY INC CL Bcl b	$21,567,000	+9.3%	156,126	+0.1%	3.07%	+6.8%
FDX	Sell	FEDEX CORP	$11,069,000	+6.0%	68,560	-0.7%	1.58%	+3.5%
B108PS	Sell	ACTAVIS INC	$10,900,000	+0.0%	45,177	-7.5%	1.55%	-2.3%
LRCX	Sell	LAM RESEARCH CORP	$10,624,000	+0.1%	142,226	-9.4%	1.51%	-2.1%
FL	Sell	FOOT LOCKER INC	$10,552,000	+0.0%	189,616	-8.8%	1.50%	-2.2%
MEOH	Sell	METHANEX CORP.	$10,358,000	+1.7%	155,054	-6.0%	1.48%	-0.6%
CHKP	Sell	CHECK POINT SOFTWAREord	$10,322,000	+3.1%	149,071	-0.2%	1.47%	+0.8%
CMCSK	Sell	COMCAST CORP CL A SPLcl a spl	$10,265,000	-0.7%	191,863	-1.0%	1.46%	-2.9%
DIS	Sell	DISNEY WALT CO COM	$10,181,000	-5.2%	114,360	-8.7%	1.45%	-7.3%
TWX	Sell	TIME WARNER INC COM	$10,134,000	-1.4%	134,741	-7.9%	1.44%	-3.6%
WYND	New	WYNDHAM WORLDWIDE CORP	$10,124,000	–	124,591	–	1.44%	–
WFC	Sell	WELLS FARGO AND CO	$10,078,000	-2.3%	194,292	-1.0%	1.44%	-4.5%
SNY	Sell	SANOFIadr	$10,068,000	+5.8%	178,410	-0.3%	1.43%	+3.4%
CVS	Sell	CVS HEALTH	$9,895,000	+3.7%	124,326	-1.8%	1.41%	+1.4%
ACE	Sell	ACE LTD	$9,875,000	+0.8%	94,166	-0.4%	1.41%	-1.5%
BCEI	Sell	BONANZA CREEK ENERGY	$9,860,000	-4.4%	173,293	-3.9%	1.40%	-6.5%
SWKS	Sell	SKYWORKS SOLUTIONS	$9,828,000	+5.1%	169,305	-15.0%	1.40%	+2.8%
SNDK	Buy	SANDISK CORPORATION	$9,758,000	-4.6%	99,620	+1.7%	1.39%	-6.7%
TMO	Sell	THERMO FISHER SCIENTIFIC	$9,645,000	+2.6%	79,249	-0.5%	1.37%	+0.4%
ROST	Sell	ROSS STORES INC COM	$9,637,000	+13.5%	127,509	-0.7%	1.37%	+10.9%
TSN	Buy	TYSON FOODScl a	$9,622,000	+6.0%	244,397	+1.0%	1.37%	+3.6%
QRTEA	Buy	LIBERTY INTERACTIVE	$9,584,000	-2.7%	336,045	+0.1%	1.36%	-4.9%
QCOM	Sell	QUALCOMM INC	$9,535,000	-5.8%	127,520	-0.2%	1.36%	-7.9%
AVT	Sell	AVNET INC COM	$9,404,000	-7.2%	226,612	-0.9%	1.34%	-9.3%
ORCL	Sell	ORACLE	$9,377,000	-5.9%	244,949	-0.4%	1.34%	-8.1%
RE	Sell	EVEREST RE	$9,370,000	+0.8%	57,835	-0.1%	1.33%	-1.5%
KLAC	Sell	KLA-TENCOR CORP COM	$9,362,000	-11.0%	118,837	-17.9%	1.33%	-13.0%
ARW	Sell	ARROW ELECTRS INC COM	$9,343,000	-11.4%	168,800	-3.4%	1.33%	-13.4%
OMC	Buy	OMNICOM GROUP INC	$9,288,000	+247.5%	134,884	+259.4%	1.32%	+240.1%
VZ	Buy	VERIZON COMMUNICATIONS	$9,241,000	+2.3%	184,865	+0.1%	1.32%	0.0%
TD	Sell	TORONTO DOMINION	$9,236,000	-5.3%	187,002	-1.5%	1.32%	-7.5%
ESRX	Buy	EXPRESS-SCRIPTS INC.	$9,145,000	+2.1%	129,479	+0.3%	1.30%	-0.2%
RY	Sell	ROYAL BANK OF CANADAadr	$9,117,000	-2.4%	127,598	-2.5%	1.30%	-4.6%
MYL	Sell	MYLAN	$9,071,000	-12.9%	199,406	-1.2%	1.29%	-14.8%
WPP	New	WPP PLCadr	$8,995,000	–	89,557	–	1.28%	–
USB	Sell	US BANCORP DEL COM	$8,931,000	-3.6%	213,515	-0.2%	1.27%	-5.8%
BAX	Buy	BAXTER INTERNATIONAL	$8,924,000	-0.4%	124,346	+0.3%	1.27%	-2.7%
WLL	Sell	WHITING PETROLEUM	$8,824,000	-16.8%	113,783	-13.9%	1.26%	-18.6%
VIAB	Sell	VIACOM INC CL Bcl b	$8,779,000	-11.4%	114,098	-0.2%	1.25%	-13.4%
ZBH	New	ZIMMER HOLDINGS	$8,724,000	–	86,763	–	1.24%	–
NBL	Buy	NOBLE ENERGY	$8,593,000	-11.6%	125,704	+0.1%	1.22%	-13.6%
SPB	Buy	SPECTRUM BRANDS INC	$8,575,000	+33.0%	94,719	+26.4%	1.22%	+29.9%
INGR	Sell	INGREDION INC	$8,527,000	+0.4%	112,509	-0.6%	1.21%	-1.9%
MCK	Sell	MCKESSON	$8,397,000	+1.2%	43,133	-3.2%	1.20%	-1.0%
CBS	Sell	CBScl b	$8,400,000	-18.3%	157,000	-5.1%	1.20%	-20.2%
MDP	Sell	MEREDITH CORP	$8,214,000	-11.5%	191,918	-0.0%	1.17%	-13.5%
DLX	Buy	DELUXE CORP.	$8,060,000	+112.8%	146,125	+126.0%	1.15%	+108.0%
BKE	Buy	THE BUCKLE	$7,878,000	+13.5%	173,557	+10.9%	1.12%	+10.9%
KS	Buy	KAPSTONE PAPER AND PACKAGING	$7,852,000	-14.1%	280,743	+1.8%	1.12%	-16.1%
HON	New	HONEYWELL INTERNATIONAL INC	$7,783,000	–	83,578	–	1.11%	–
FLR	Buy	FLUOR	$7,540,000	+4.0%	112,896	+19.8%	1.07%	+1.7%
RLJ	Buy	RLJ LODGING TRUST	$7,447,000	-1.1%	261,581	+0.3%	1.06%	-3.3%
SSS	Buy	SOVRAN SELF STORAGE COM	$7,377,000	-3.6%	99,209	+0.1%	1.05%	-5.7%
ON	New	ON SEMICONDUCTOR CORP	$7,342,000	–	821,255	–	1.05%	–
SMCI	Sell	SUPER MICRO COMPUTER, INC	$7,186,000	-3.4%	244,240	-17.0%	1.02%	-5.6%
LH	Sell	LABORATORY CORP. OF AMERICA	$7,117,000	-12.1%	69,949	-11.6%	1.01%	-14.1%
HUN	Buy	HUNTSMAN CORP	$7,068,000	-7.4%	271,960	+0.1%	1.01%	-9.4%
PCP	Buy	PRECISION CASTPARTS CORP	$7,014,000	-6.1%	29,609	+0.1%	1.00%	-8.2%
MTH	Sell	MERITAGE CORP	$6,880,000	-18.3%	193,792	-2.9%	0.98%	-20.1%
ATW	Sell	ATWOOD OCEANICS	$6,806,000	-16.9%	155,786	-0.2%	0.97%	-18.8%
DOX	Buy	AMDOCS LTD.	$6,799,000	-0.8%	148,182	+0.2%	0.97%	-3.1%
DOV	Sell	DOVER CORP	$6,774,000	-21.0%	84,325	-10.6%	0.96%	-22.7%
WU	Buy	WESTERN UNION CO.	$6,692,000	-7.5%	417,215	+0.0%	0.95%	-9.6%
MGA	Buy	MAGNA INTL INC	$6,680,000	+434.4%	70,378	+506.6%	0.95%	+422.5%
AGU	Buy	AGRIUM INC COM	$6,662,000	-2.6%	74,857	+0.3%	0.95%	-4.8%
JCI	Buy	JOHNSON CTLS INC	$6,651,000	-11.8%	151,164	+0.1%	0.95%	-13.8%
EPD	Buy	ENTERPRISE PRODUCT PARTNERS LP	$6,408,000	-25.7%	159,013	+44.4%	0.91%	-27.3%
EMN	Buy	EASTMAN CHEMICAL CO	$6,306,000	-3.1%	77,960	+4.7%	0.90%	-5.3%
FINL	Buy	FINISH LINE INCcl a	$6,178,000	-9.2%	246,813	+7.9%	0.88%	-11.2%
PDCE	Buy	PDC ENERGY INC	$6,154,000	-16.7%	122,379	+4.6%	0.88%	-18.6%
FLEX	Sell	FLEXTRONICS INTERNATIONAL LTDord	$6,131,000	-27.9%	594,041	-22.6%	0.87%	-29.5%
ARCC	Buy	ARES CAPITAL CORPORATION	$6,101,000	+3.0%	377,550	+13.8%	0.87%	+0.7%
DHI	Buy	D R HORTON INC COM	$6,078,000	+2.8%	296,200	+23.1%	0.87%	+0.5%
A309PS	Sell	DIRECTV CO	$5,697,000	-0.9%	65,841	-2.6%	0.81%	-3.2%
VLO	Buy	VALERO ENERGY CORP	$5,335,000	-7.2%	115,312	+0.4%	0.76%	-9.3%
LBTYK	Sell	LIBERTY GLOBAL PLC CL C	$4,546,000	-3.3%	110,831	-0.2%	0.65%	-5.5%
SNX	Buy	SYNNEX CORP	$3,120,000	+146.8%	48,275	+178.2%	0.44%	+141.3%
CSTM	Sell	CONSTELLIUM N.V.cl a	$2,617,000	-33.5%	106,355	-13.3%	0.37%	-34.9%
UTX	Sell	UNITED TECHNOLOGIES CORP COM	$2,604,000	-9.6%	24,656	-1.2%	0.37%	-11.7%
GM	Sell	GENERAL MOTORS CO.	$2,332,000	-13.5%	73,015	-1.6%	0.33%	-15.5%
GS	Sell	GOLDMAN SACHS	$2,083,000	+2.1%	11,345	-6.9%	0.30%	0.0%
IM	Buy	INGRAM MICRO INCcl a	$1,701,000	+28.1%	65,898	+45.0%	0.24%	+25.4%
ADP	Buy	AUTOMATIC DATA PROCESSING	$1,587,000	+5.1%	19,105	+0.3%	0.23%	+2.7%
STAG	Buy	STAG INDUSTRIAL	$1,502,000	+109.8%	72,545	+143.3%	0.21%	+105.8%
PKG	New	PACKAGING CORP OF AMERICA	$1,393,000	–	21,825	–	0.20%	–
APA	Sell	APACHE CP	$1,354,000	-6.7%	14,427	-0.0%	0.19%	-9.0%
AXAS	New	ABRAXAS PETROLEUM CORP	$1,319,000	–	249,840	–	0.19%	–
DRH	New	DIAMONDROCK HOSPITALITY	$1,168,000	–	92,110	–	0.17%	–
GT	Buy	GOODYEAR TIRE AND RUBBER	$985,000	+12212.5%	43,635	+14445.0%	0.14%	+13900.0%
CCS	New	CENTURY COMMUNITIES INC	$976,000	–	56,240	–	0.14%	–
MCC	Buy	MEDLEY CAPITAL CORP	$701,000	-8.5%	59,375	+1.2%	0.10%	-10.7%
SHLOQ	Buy	SHILOH INDUSTRIES	$697,000	-6.8%	40,987	+1.1%	0.10%	-9.2%
WGO	New	WINNEBAGO INDUSTRIES INC	$691,000	–	31,740	–	0.10%	–
CNRD	New	CONRAD INDUSTRIES	$657,000	–	17,292	–	0.09%	–
SYBT	Buy	STOCK YARDS BANCORP	$606,000	+2.7%	20,118	+1.9%	0.09%	0.0%
TPVG	Buy	TRIPLE POINT VENTURE GROWTH	$591,000	-10.3%	40,453	+0.6%	0.08%	-12.5%
SYRG	Sell	SYNERGY RESOURCES INC.	$549,000	-9.0%	45,045	-1.0%	0.08%	-11.4%
FISI	New	FINANCIAL INSTITUTIONS INC	$499,000	–	22,195	–	0.07%	–
NP	Sell	NEENAH PAPER	$480,000	-69.6%	8,966	-69.8%	0.07%	-70.4%
GSTCQ	New	GASTAR EXPLORATION INC	$481,000	–	82,000	–	0.07%	–
COHU	New	COHU INC COM	$393,000	–	32,800	–	0.06%	–
FBIZ	Buy	FIRST BUSINESS FINANCIAL SERVICES	$370,000	+78.7%	8,420	+91.6%	0.05%	+76.7%
UFPT	Sell	UFP TECHNOLOGIES, INC	$324,000	-26.2%	14,730	-19.1%	0.05%	-28.1%
HOFT	New	HOOKER FURNITURE CORP	$282,000	–	18,569	–	0.04%	–
BEL	New	BELMOND LTDcl a	$247,000	–	21,150	–	0.04%	–
ETM	Buy	ENTERCOM COMMUNICATIONScl a	$119,000	-22.2%	14,805	+4.2%	0.02%	-22.7%
JRN	Sell	JOURNAL COMMUNICATIONS INCcl a	$97,000	-95.3%	11,526	-95.0%	0.01%	-95.3%
DGX	Exit	QUEST DIAGNOSTICS INC.	$0	–	-220	–	-0.00%	–
NTGR	Exit	NETGEAR INC	$0	–	-6,675	–	-0.03%	–
OEH	Exit	ORIENT EXPRESS HOTELScl a	$0	–	-20,420	–	-0.04%	–
CULP	Exit	CULP INC	$0	–	-82,646	–	-0.21%	–
ESV	Exit	ENSCOcl a	$0	–	-35,722	–	-0.29%	–
DEO	Exit	DIAGEOadr new	$0	–	-17,923	–	-0.33%	–
DE	Exit	DEERE	$0	–	-26,205	–	-0.35%	–
MDT	Exit	MEDTRONIC INC COM	$0	–	-42,983	–	-0.40%	–
CBI	Exit	CHICAGO BRIDGE AND IRON CO	$0	–	-103,012	–	-1.02%	–
AWHHF	Exit	ALLIED WORLD ASSURANCE CO.	$0	–	-219,743	–	-1.22%	–

Q2 2014

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC CL Bcl b	$19,738,000	–	155,956	–	2.88%	–
B108PS	New	ACTAVIS INC	$10,898,000	–	48,858	–	1.59%	–
DIS	New	DISNEY WALT CO COM	$10,737,000	–	125,226	–	1.56%	–
LRCX	New	LAM RESEARCH CORP	$10,610,000	–	156,995	–	1.55%	–
WLL	New	WHITING PETROLEUM	$10,600,000	–	132,093	–	1.54%	–
ARW	New	ARROW ELECTRS INC COM	$10,551,000	–	174,651	–	1.54%	–
FL	New	FOOT LOCKER INC	$10,549,000	–	207,987	–	1.54%	–
KLAC	New	KLA-TENCOR CORP COM	$10,519,000	–	144,810	–	1.53%	–
FDX	New	FEDEX CORP	$10,447,000	–	69,011	–	1.52%	–
MYL	New	MYLAN	$10,411,000	–	201,925	–	1.52%	–
CMCSK	New	COMCAST CORP CL A SPLcl a spl	$10,339,000	–	193,872	–	1.51%	–
WFC	New	WELLS FARGO AND CO	$10,318,000	–	196,300	–	1.50%	–
BCEI	New	BONANZA CREEK ENERGY	$10,309,000	–	180,266	–	1.50%	–
CBS	New	CBScl b	$10,279,000	–	165,410	–	1.50%	–
TWX	New	TIME WARNER INC COM	$10,278,000	–	146,311	–	1.50%	–
SNDK	New	SANDISK CORPORATION	$10,229,000	–	97,950	–	1.49%	–
MEOH	New	METHANEX CORP.	$10,187,000	–	164,899	–	1.48%	–
AVT	New	AVNET INC COM	$10,137,000	–	228,772	–	1.48%	–
QCOM	New	QUALCOMM INC	$10,118,000	–	127,748	–	1.47%	–
CHKP	New	CHECK POINT SOFTWAREord	$10,013,000	–	149,379	–	1.46%	–
ORCL	New	ORACLE	$9,969,000	–	245,959	–	1.45%	–
VIAB	New	VIACOM INC CL Bcl b	$9,911,000	–	114,271	–	1.44%	–
QRTEA	New	LIBERTY INTERACTIVE	$9,854,000	–	335,635	–	1.44%	–
ACE	New	ACE LTD	$9,801,000	–	94,513	–	1.43%	–
TD	New	TORONTO DOMINION	$9,755,000	–	189,758	–	1.42%	–
NBL	New	NOBLE ENERGY	$9,725,000	–	125,551	–	1.42%	–
CVS	New	CVS CAREMARK	$9,539,000	–	126,558	–	1.39%	–
SNY	New	SANOFIadr	$9,517,000	–	178,985	–	1.39%	–
TMO	New	THERMO FISHER SCIENTIFIC	$9,399,000	–	79,652	–	1.37%	–
SWKS	New	SKYWORKS SOLUTIONS	$9,350,000	–	199,110	–	1.36%	–
RY	New	ROYAL BANK OF CANADA	$9,345,000	–	130,827	–	1.36%	–
RE	New	EVEREST RE	$9,295,000	–	57,918	–	1.35%	–
MDP	New	MEREDITH CORP	$9,286,000	–	192,013	–	1.35%	–
USB	New	US BANCORP DEL COM	$9,265,000	–	213,870	–	1.35%	–
KS	New	KAPSTONE PAPER AND PACKAGING	$9,140,000	–	275,883	–	1.33%	–
TSN	New	TYSON FOODScl a	$9,080,000	–	241,882	–	1.32%	–
VZ	New	VERIZON COMMUNICATIONS	$9,033,000	–	184,610	–	1.32%	–
BAX	New	BAXTER INTERNATIONAL	$8,963,000	–	123,976	–	1.31%	–
ESRX	New	EXPRESS-SCRIPTS INC.	$8,953,000	–	129,139	–	1.30%	–
EPD	New	ENTERPRISE PRODUCT PARTNERS LP	$8,623,000	–	110,141	–	1.26%	–
DOV	New	DOVER CORP	$8,576,000	–	94,291	–	1.25%	–
FLEX	New	FLEXTRONICS INTERNATIONAL LTDord	$8,498,000	–	767,616	–	1.24%	–
ROST	New	ROSS STORES INC COM	$8,493,000	–	128,427	–	1.24%	–
INGR	New	INGREDION INC	$8,490,000	–	113,146	–	1.24%	–
MTH	New	MERITAGE CORP	$8,424,000	–	199,577	–	1.23%	–
AWHHF	New	ALLIED WORLD ASSURANCE CO.	$8,355,000	–	219,743	–	1.22%	–
MCK	New	MCKESSON	$8,294,000	–	44,542	–	1.21%	–
ATW	New	ATWOOD OCEANICS	$8,192,000	–	156,096	–	1.19%	–
LH	New	LABORATORY CORP. OF AMERICA	$8,099,000	–	79,092	–	1.18%	–
SSS	New	SOVRAN SELF STORAGE COM	$7,656,000	–	99,109	–	1.12%	–
HUN	New	HUNTSMAN CORP	$7,635,000	–	271,700	–	1.11%	–
PVH	New	PVH Corp	$7,568,000	–	64,909	–	1.10%	–
JCI	New	JOHNSON CTLS INC	$7,538,000	–	150,970	–	1.10%	–
RLJ	New	RLJ LODGING TRUST	$7,532,000	–	260,729	–	1.10%	–
PCP	New	PRECISION CASTPARTS CORP	$7,467,000	–	29,585	–	1.09%	–
SMCI	New	SUPER MICRO COMPUTER, INC	$7,439,000	–	294,385	–	1.08%	–
PDCE	New	PDC ENERGY INC	$7,389,000	–	117,010	–	1.08%	–
FLR	New	FLUOR	$7,248,000	–	94,250	–	1.06%	–
WU	New	WESTERN UNION CO.	$7,232,000	–	417,045	–	1.05%	–
CBI	New	CHICAGO BRIDGE AND IRON CO	$7,025,000	–	103,012	–	1.02%	–
BKE	New	THE BUCKLE	$6,943,000	–	156,517	–	1.01%	–
DOX	New	AMDOCS LTD.	$6,854,000	–	147,942	–	1.00%	–
AGU	New	AGRIUM INC COM	$6,841,000	–	74,657	–	1.00%	–
FINL	New	FINISH LINE INCcl a	$6,804,000	–	228,788	–	0.99%	–
EMN	New	EASTMAN CHEMICAL CO	$6,507,000	–	74,490	–	0.95%	–
SPB	New	SPECTRUM BRANDS INC	$6,449,000	–	74,964	–	0.94%	–
ARCC	New	ARES CAPITAL CORPORATION	$5,923,000	–	331,630	–	0.86%	–
DHI	New	D R HORTON INC COM	$5,915,000	–	240,661	–	0.86%	–
VLO	New	VALERO ENERGY CORP	$5,752,000	–	114,812	–	0.84%	–
A309PS	New	DIRECTV CO	$5,749,000	–	67,626	–	0.84%	–
LBTYA	New	LIBERTY GLOBAL PLC CL Acl a	$4,717,000	–	106,676	–	0.69%	–
LBTYK	New	LIBERTY GLOBAL PLC CL Ccl c	$4,700,000	–	111,076	–	0.68%	–
CSTM	New	CONSTELLIUM N.V.cl a	$3,935,000	–	122,735	–	0.57%	–
DLX	New	DELUXE CORP.	$3,788,000	–	64,667	–	0.55%	–
UTX	New	UNITED TECHNOLOGIES CORP COM	$2,881,000	–	24,951	–	0.42%	–
MDT	New	MEDTRONIC INC COM	$2,741,000	–	42,983	–	0.40%	–
GM	New	GENERAL MOTORS CO.	$2,695,000	–	74,235	–	0.39%	–
OMC	New	OMNICOM GROUP INC	$2,673,000	–	37,530	–	0.39%	–
DE	New	DEERE	$2,373,000	–	26,205	–	0.35%	–
DEO	New	DIAGEOadr new	$2,281,000	–	17,923	–	0.33%	–
JRN	New	JOURNAL COMMUNICATIONS INCcl a	$2,046,000	–	230,616	–	0.30%	–
GS	New	GOLDMAN SACHS	$2,040,000	–	12,182	–	0.30%	–
ESV	New	ENSCOcl a	$1,985,000	–	35,722	–	0.29%	–
MNTX	New	MANITEX INTERNATIONAL	$1,957,000	–	120,481	–	0.28%	–
VSH	New	VISHAY INTERTECHNOLOGY INC	$1,775,000	–	114,590	–	0.26%	–
NP	New	NEENAH PAPER	$1,579,000	–	29,710	–	0.23%	–
ADP	New	AUTOMATIC DATA PROCESSING	$1,510,000	–	19,047	–	0.22%	–
APA	New	APACHE CP	$1,452,000	–	14,432	–	0.21%	–
CULP	New	CULP INC	$1,439,000	–	82,646	–	0.21%	–
IM	New	INGRAM MICRO INCcl a	$1,328,000	–	45,458	–	0.19%	–
SNX	New	SYNNEX CORP	$1,264,000	–	17,355	–	0.18%	–
MGA	New	MAGNA INTL INC	$1,250,000	–	11,603	–	0.18%	–
GBDC	New	GOLUB CAPITAL BDC	$1,056,000	–	59,661	–	0.15%	–
MCC	New	MEDLEY CAPITAL CORP	$766,000	–	58,675	–	0.11%	–
SHLOQ	New	SHILOH INDUSTRIES	$748,000	–	40,532	–	0.11%	–
STAG	New	STAG INDUSTRIAL	$716,000	–	29,814	–	0.10%	–
INT	New	WORLD FUEL SERVICES CORP.	$667,000	–	13,545	–	0.10%	–
TPVG	New	TRIPLE POINT VENTURE GROWTH	$659,000	–	40,228	–	0.10%	–
TJX	New	TJX COMPANIES	$613,000	–	11,527	–	0.09%	–
SYRG	New	SYNERGY RESOURCES INC.	$603,000	–	45,485	–	0.09%	–
SYBT	New	STOCK YARDS BANCORP	$590,000	–	19,747	–	0.09%	–
UFPT	New	UFP TECHNOLOGIES, INC	$439,000	–	18,205	–	0.06%	–
OEH	New	ORIENT EXPRESS HOTELScl a	$297,000	–	20,420	–	0.04%	–
WCC	New	WESCO INTERNATIONAL	$266,000	–	3,074	–	0.04%	–
NTGR	New	NETGEAR INC	$232,000	–	6,675	–	0.03%	–
FBIZ	New	FIRST BUSINESS FINANCIAL SERVICES	$207,000	–	4,395	–	0.03%	–
ETM	New	ENTERCOM COMMUNICATIONScl a	$153,000	–	14,215	–	0.02%	–
DGX	New	QUEST DIAGNOSTICS INC.	$13,000	–	220	–	0.00%	–
GT	New	GOODYEAR TIRE AND RUBBER	$8,000	–	300	–	0.00%	–

Q4 2013

			Value		Shares		↓ Weighting
HDSN	Exit	HUDSON TECHNOLOGIES	$0	–	-39,773	–	-0.01%	–
TCO	Exit	TAUBMAN CENTERS INC	$0	–	-3,105	–	-0.01%	–
CAC	Exit	CAMDEN NATIONAL CORP	$0	–	-5,515	–	-0.01%	–
RDSA	Exit	ROYAL DUTCH SHELL ADSspons adr a	$0	–	-3,283	–	-0.01%	–
CNBC	Exit	CENTER BANCORP, INC	$0	–	-19,887	–	-0.02%	–
MCC	Exit	MEDLEY CAPITAL CORP	$0	–	-21,930	–	-0.02%	–
ZEP	Exit	ZEP INC	$0	–	-19,410	–	-0.02%	–
UFPT	Exit	UFP TECHNOLOGIES, INC	$0	–	-14,350	–	-0.02%	–
SWKS	Exit	SKYWORKS SOLUTIONS	$0	–	-15,910	–	-0.02%	–
NTGR	Exit	NETGEAR INC	$0	–	-13,187	–	-0.02%	–
VRA	Exit	VERA BRADLEY	$0	–	-19,665	–	-0.02%	–
HFC	Exit	HOLLYFRONTIER CORP	$0	–	-10,836	–	-0.03%	–
FRC	Exit	FIRST REPUBLIC BANK	$0	–	-11,470	–	-0.03%	–
SNA	Exit	SNAP-ON INC	$0	–	-5,733	–	-0.03%	–
CNBKA	Exit	CENTURY BANCORPvtg	$0	–	-16,842	–	-0.03%	–
STO	Exit	STATOIL HYDRO ASAadr	$0	–	-33,047	–	-0.04%	–
WCC	Exit	WESCO INTERNATIONAL	$0	–	-10,907	–	-0.05%	–
OEH	Exit	ORIENT EXPRESS HOTELScl a	$0	–	-70,675	–	-0.05%	–
AEC	Exit	ASSOCIATED ESTATES REALTY	$0	–	-60,725	–	-0.06%	–
FSP	Exit	FRANKLIN STREET PROPERTIES	$0	–	-89,540	–	-0.07%	–
TJX	Exit	TJX COMPANIES	$0	–	-23,212	–	-0.07%	–
SYRG	Exit	SYNERGY RESOURCES INC.	$0	–	-168,526	–	-0.08%	–
TWI	Exit	TITAN INTERNATIONAL	$0	–	-83,529	–	-0.08%	–
LH	Exit	LABORATORY CORP. OF AMERICA	$0	–	-16,569	–	-0.10%	–
ETN	Exit	EATON CORP	$0	–	-25,319	–	-0.10%	–
EMN	Exit	EASTMAN CHEMICAL CO	$0	–	-23,578	–	-0.10%	–
MDT	Exit	MEDTRONIC INC COM	$0	–	-35,502	–	-0.11%	–
ACM	Exit	AECOM TECH CORP.	$0	–	-64,968	–	-0.12%	–
SNECQ	Exit	SANCHEZ ENERGY CORP.	$0	–	-85,300	–	-0.13%	–
GBDC	Exit	GOLUB CAPITAL BDC	$0	–	-141,768	–	-0.14%	–
BAX	Exit	BAXTER INTERNATIONAL	$0	–	-36,522	–	-0.14%	–
MNTX	Exit	MANITEX INTERNATIONAL	$0	–	-234,376	–	-0.15%	–
CW	Exit	CURTISS-WRIGHT CORP	$0	–	-62,592	–	-0.15%	–
MSFT	Exit	MICROSOFT CORP COM	$0	–	-75,458	–	-0.15%	–
APA	Exit	APACHE CP	$0	–	-32,268	–	-0.16%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-42,834	–	-0.18%	–
NP	Exit	NEENAH PAPER	$0	–	-88,852	–	-0.18%	–
CULP	Exit	CULP INC	$0	–	-175,469	–	-0.18%	–
ACE	Exit	ACE LTD	$0	–	-35,044	–	-0.19%	–
AAN	Exit	AARONS INC	$0	–	-119,275	–	-0.19%	–
NKE	Exit	NIKEcl b	$0	–	-49,108	–	-0.19%	–
ANN	Exit	ANN INC	$0	–	-96,420	–	-0.20%	–
ARII	Exit	AMERICAN RAIL CAR INC	$0	–	-90,070	–	-0.20%	–
FISV	Exit	FISERV INC.	$0	–	-39,072	–	-0.21%	–
MPW	Exit	MEDICAL PROPERTIES TRUST	$0	–	-276,304	–	-0.21%	–
GS	Exit	GOLDMAN SACHS	$0	–	-25,911	–	-0.23%	–
TCAP	Exit	TRIANGLE CAPITAL CORP	$0	–	-154,935	–	-0.26%	–
NBL	Exit	NOBLE ENERGY	$0	–	-71,065	–	-0.26%	–
ESRX	Exit	EXPRESS-SCRIPTS INC.	$0	–	-75,336	–	-0.27%	–
USTR	Exit	UNITED STATIONERS	$0	–	-144,704	–	-0.32%	–
UTX	Exit	UNITED TECHNOLOGIES CORP COM	$0	–	-56,472	–	-0.33%	–
A	Exit	AGILENT TECHNOLOGIES	$0	–	-146,464	–	-0.36%	–
TKR	Exit	TIMKEN CO	$0	–	-134,213	–	-0.44%	–
FLR	Exit	FLUOR	$0	–	-115,905	–	-0.48%	–
RCI	Exit	ROGERS COMMUNICATION INC.cl b	$0	–	-212,037	–	-0.53%	–
HP	Exit	HELMERICH AND PAYNE	$0	–	-158,047	–	-0.57%	–
RCII	Exit	RENT-A-CENTER INC	$0	–	-265,207	–	-0.58%	–
RE	Exit	EVEREST RE	$0	–	-72,936	–	-0.62%	–
TWX	Exit	TIME WARNER INC COM	$0	–	-186,955	–	-0.72%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-196,084	–	-0.72%	–
OHI	Exit	OMEGA HEALTHCARE INVESTORS INC.	$0	–	-414,082	–	-0.73%	–
POT	Exit	POTASH CORP	$0	–	-363,193	–	-0.73%	–
LTC	Exit	LTC PROPERTIES INC	$0	–	-332,091	–	-0.74%	–
RLJ	Exit	RLJ LODGING TRUST	$0	–	-565,568	–	-0.76%	–
VLO	Exit	VALERO ENERGY CORP	$0	–	-379,007	–	-0.76%	–
SWK	Exit	STANLEY BLACK AND DECKER	$0	–	-156,430	–	-0.76%	–
DLR	Exit	DIGITAL REALTY TRUST	$0	–	-235,522	–	-0.78%	–
BMR	Exit	BIOMEDICAL REALTY TRUST INC	$0	–	-719,352	–	-0.81%	–
ARCC	Exit	ARES CAPITAL CORPORATION	$0	–	-848,981	–	-0.85%	–
QRTEA	Exit	LIBERTY INTERACTIVE	$0	–	-652,806	–	-0.89%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-309,031	–	-0.89%	–
SSS	Exit	SOVRAN SELF STORAGE COM	$0	–	-219,520	–	-0.90%	–
JBL	Exit	JABIL CIRCUIT INC.	$0	–	-740,400	–	-0.90%	–
JCI	Exit	JOHNSON CTLS INC	$0	–	-422,783	–	-0.95%	–
BCEI	Exit	BONANZA CREEK ENERGY	$0	–	-399,573	–	-0.98%	–
MTB	Exit	M AND T BANK	$0	–	-151,515	–	-0.98%	–
TS	Exit	TENARISsponsored adr	$0	–	-393,313	–	-0.99%	–
TUP	Exit	TUPPERWARE BRANDS CORP	$0	–	-208,939	–	-1.00%	–
CRMT	Exit	AMERICA'S CAR-MART INC	$0	–	-389,509	–	-1.00%	–
DOX	Exit	AMDOCS LTD.ord	$0	–	-473,594	–	-1.02%	–
AWHHF	Exit	ALLIED WORLD ASSURANCE CO.	$0	–	-183,984	–	-1.02%	–
XOM	Exit	EXXON MOBIL CORP COM	$0	–	-199,468	–	-1.02%	–
BDC	Exit	BELDEN CDT	$0	–	-311,204	–	-1.03%	–
GIII	Exit	G-III APPAREL GROUP LTD.	$0	–	-350,416	–	-1.05%	–
ATW	Exit	ATWOOD OCEANICS	$0	–	-339,031	–	-1.06%	–
SIG	Exit	SIGNET JEWELERS	$0	–	-268,700	–	-1.08%	–
WU	Exit	WESTERN UNION CO.	$0	–	-1,050,555	–	-1.09%	–
AGU	Exit	AGRIUM INC COM	$0	–	-220,256	–	-1.09%	–
FL	Exit	FOOT LOCKER INC	$0	–	-560,584	–	-1.12%	–
EPD	Exit	ENTERPRISE PRODUCT PARTNERS LP	$0	–	-315,232	–	-1.13%	–
DE	Exit	DEERE	$0	–	-239,960	–	-1.13%	–
ESV	Exit	ENSCO	$0	–	-350,503	–	-1.14%	–
DEO	Exit	DIAGEOspon adr new	$0	–	-162,735	–	-1.14%	–
HON	Exit	HONEYWELL INTERNATIONAL INC	$0	–	-242,370	–	-1.14%	–
SNDK	Exit	SANDISK CORPORATION	$0	–	-328,917	–	-1.15%	–
PCP	Exit	PRECISION CASTPARTS CORP	$0	–	-88,052	–	-1.16%	–
FDO	Exit	FAMILY DOLLAR STORES INC	$0	–	-303,463	–	-1.18%	–
INGR	Exit	INGREDION INC	$0	–	-308,837	–	-1.18%	–
MCK	Exit	MCKESSON	$0	–	-169,073	–	-1.19%	–
TSN	Exit	TYSON FOODScl a	$0	–	-762,324	–	-1.20%	–
RY	Exit	ROYAL BANK OF CANADA	$0	–	-345,296	–	-1.23%	–
PVH	Exit	PVH Corp	$0	–	-174,712	–	-1.24%	–
ZBH	Exit	ZIMMER HOLDINGS	$0	–	-274,309	–	-1.25%	–
CVS	Exit	CVS CAREMARK	$0	–	-380,324	–	-1.26%	–
AVT	Exit	AVNET INC COM	$0	–	-581,857	–	-1.27%	–
EMC	Exit	EMC CORP	$0	–	-893,094	–	-1.28%	–
USB	Exit	US BANCORP DEL COMnew	$0	–	-603,915	–	-1.28%	–
MAT	Exit	MATTEL	$0	–	-505,992	–	-1.28%	–
MDP	Exit	MEREDITH CORP	$0	–	-464,606	–	-1.29%	–
ARW	Exit	ARROW ELECTRS INC COM	$0	–	-506,740	–	-1.30%	–
TD	Exit	TORONTO DOMINION	$0	–	-262,708	–	-1.30%	–
WLL	Exit	WHITING PETROLEUM	$0	–	-424,831	–	-1.30%	–
MEOH	Exit	METHANEX CORP.	$0	–	-482,843	–	-1.32%	–
ORCL	Exit	ORACLE	$0	–	-715,373	–	-1.33%	–
CHKP	Exit	CHECK POINT SOFTWAREord	$0	–	-435,291	–	-1.34%	–
DOV	Exit	DOVER CORP	$0	–	-279,824	–	-1.36%	–
TMO	Exit	THERMO FISHER SCIENTIFIC	$0	–	-265,091	–	-1.36%	–
CBI	Exit	CHICAGO BRIDGE AND IRON CO	$0	–	-367,625	–	-1.36%	–
BKE	Exit	THE BUCKLE	$0	–	-444,765	–	-1.37%	–
CSCO	Exit	CISCO SYS INC COM	$0	–	-989,676	–	-1.37%	–
FDX	Exit	FEDEX CORP	$0	–	-223,973	–	-1.38%	–
ROST	Exit	ROSS STORES INC COM	$0	–	-346,848	–	-1.38%	–
BBBY	Exit	BED BATH AND BEYOND	$0	–	-322,199	–	-1.39%	–
DIS	Exit	DISNEY WALT CO COM	$0	–	-375,162	–	-1.39%	–
QCOM	Exit	QUALCOMM INC	$0	–	-376,230	–	-1.40%	–
WFC	Exit	WELLS FARGO AND CO	$0	–	-586,240	–	-1.41%	–
CMCSK	Exit	COMCAST CORP CL A SPLspl	$0	–	-590,420	–	-1.42%	–
VFC	Exit	VF CORP	$0	–	-125,859	–	-1.43%	–
MYL	Exit	MYLAN	$0	–	-738,083	–	-1.48%	–
A309PS	Exit	DIRECTV CO	$0	–	-421,506	–	-1.49%	–
CBS	Exit	CBSnew cl b	$0	–	-508,178	–	-1.53%	–
WPP	Exit	WPP PLCnew adr	$0	–	-288,371	–	-1.58%	–
ACT	Exit	ACTAVIS INC	$0	–	-204,798	–	-1.60%	–
VIAB	Exit	VIACOM INC CL Bnew cl b	$0	–	-366,515	–	-1.61%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC CL Bcl b new	$0	–	-416,433	–	-2.73%	–

Q3 2013

			Value		Shares		↓ Weighting
BRKB	Buy	BERKSHIRE HATHAWAY INC CL Bcl b new	$46,932,000	+97.3%	416,433	+96.0%	2.73%	-3.8%
VIAB	Buy	VIACOM INC CL Bnew cl b	$27,729,000	+118.2%	366,515	+96.2%	1.61%	+6.4%
ACT	Buy	ACTAVIS INC	$27,453,000	+89.7%	204,798	+78.6%	1.60%	-7.5%
WPP	Buy	WPP PLCnew adr	$27,109,000	+116.2%	288,371	+96.4%	1.58%	+5.4%
CBS	Buy	CBSnew cl b	$26,399,000	+108.1%	508,178	+95.8%	1.53%	+1.5%
A309PS	Buy	DIRECTV CO	$25,599,000	+92.5%	421,506	+95.4%	1.49%	-6.1%
MYL	Buy	MYLAN	$25,472,000	+117.0%	738,083	+95.1%	1.48%	+5.8%
VFC	Buy	VF CORP	$24,651,000	+90.7%	125,859	+87.9%	1.43%	-6.9%
CMCSK	Buy	COMCAST CORP CL A SPLspl	$24,488,000	+105.2%	590,420	+96.3%	1.42%	+0.1%
WFC	Buy	WELLS FARGO AND CO	$24,208,000	+96.4%	586,240	+96.3%	1.41%	-4.2%
QCOM	Buy	QUALCOMM INC	$24,135,000	+106.2%	376,230	+96.4%	1.40%	+0.6%
DIS	Buy	DISNEY WALT CO COM	$23,939,000	+98.5%	375,162	+96.5%	1.39%	-3.2%
BBBY	Buy	BED BATH AND BEYOND	$23,877,000	+105.9%	322,199	+97.1%	1.39%	+0.4%
ROST	Buy	ROSS STORES INC COM	$23,831,000	+107.1%	346,848	+95.3%	1.38%	+1.0%
FDX	Buy	FEDEX CORP	$23,775,000	+110.2%	223,973	+95.2%	1.38%	+2.5%
CSCO	Buy	CISCO SYS INC COM	$23,644,000	+92.9%	989,676	+96.5%	1.37%	-5.9%
BKE	Buy	THE BUCKLE	$23,572,000	+96.6%	444,765	+92.9%	1.37%	-4.1%
CBI	Buy	CHICAGO BRIDGE AND IRON CO	$23,392,000	+109.0%	367,625	+95.9%	1.36%	+1.9%
TMO	Buy	THERMO FISHER SCIENTIFIC	$23,384,000	+99.0%	265,091	+91.0%	1.36%	-2.9%
DOV	Buy	DOVER CORP	$23,365,000	+106.6%	279,824	+92.2%	1.36%	+0.8%
CHKP	Buy	CHECK POINT SOFTWAREord	$23,090,000	+108.9%	435,291	+95.7%	1.34%	+1.9%
ORCL	Buy	ORACLE	$22,869,000	+113.0%	715,373	+104.6%	1.33%	+3.9%
MEOH	Buy	METHANEX CORP.	$22,652,000	+112.1%	482,843	+93.6%	1.32%	+3.4%
WLL	Buy	WHITING PETROLEUM	$22,395,000	+120.5%	424,831	+92.8%	1.30%	+7.5%
TD	Buy	TORONTO DOMINION	$22,352,000	+107.8%	262,708	+96.2%	1.30%	+1.3%
ARW	Buy	ARROW ELECTRS INC COM	$22,356,000	+117.7%	506,740	+96.7%	1.30%	+6.2%
MDP	Buy	MEREDITH CORP	$22,144,000	+95.9%	464,606	+96.0%	1.29%	-4.5%
MAT	Buy	MATTEL	$22,074,000	+89.2%	505,992	+96.5%	1.28%	-7.7%
USB	Buy	US BANCORP DEL COMnew	$21,960,000	+98.2%	603,915	+97.1%	1.28%	-3.3%
EMC	Buy	EMC CORP	$21,944,000	+104.2%	893,094	+96.3%	1.28%	-0.4%
AVT	Buy	AVNET INC COM	$21,863,000	+119.3%	581,857	+96.1%	1.27%	+7.0%
CVS	Buy	CVS CAREMARK	$21,667,000	+96.0%	380,324	+96.7%	1.26%	-4.4%
ZBH	Buy	ZIMMER HOLDINGS	$21,519,000	+104.1%	274,309	+95.0%	1.25%	-0.4%
PVH	Buy	PVH Corp	$21,304,000	+91.1%	174,712	+96.0%	1.24%	-6.8%
RY	Buy	ROYAL BANK OF CANADA	$21,139,000	+107.2%	345,296	+97.3%	1.23%	+1.0%
TSN	Buy	TYSON FOODScl a	$20,594,000	+116.2%	762,324	+105.5%	1.20%	+5.5%
MCK	Buy	MCKESSON	$20,502,000	+107.7%	169,073	+96.1%	1.19%	+1.3%
INGR	Buy	INGREDION INC	$20,350,000	+97.9%	308,837	+97.1%	1.18%	-3.4%
FDO	Buy	FAMILY DOLLAR STORES INC	$20,326,000	+107.1%	303,463	+92.7%	1.18%	+1.0%
PCP	Buy	PRECISION CASTPARTS CORP	$19,954,000	+97.3%	88,052	+96.8%	1.16%	-3.7%
SNDK	Buy	SANDISK CORPORATION	$19,812,000	+117.0%	328,917	+120.1%	1.15%	+5.8%
HON	Buy	HONEYWELL INTERNATIONAL INC	$19,679,000	+105.1%	242,370	+100.4%	1.14%	+0.1%
DEO	Buy	DIAGEOspon adr new	$19,674,000	+106.2%	162,735	+96.1%	1.14%	+0.5%
ESV	Buy	ENSCO	$19,616,000	+89.8%	350,503	+97.1%	1.14%	-7.5%
DE	Buy	DEERE	$19,513,000	+96.5%	239,960	+96.3%	1.13%	-4.1%
EPD	Buy	ENTERPRISE PRODUCT PARTNERS LP	$19,421,000	+93.8%	315,232	+95.5%	1.13%	-5.4%
FL	Buy	FOOT LOCKER INC	$19,319,000	+123.0%	560,584	+127.3%	1.12%	+8.8%
WU	Buy	WESTERN UNION CO.	$18,820,000	+117.6%	1,050,555	+107.8%	1.09%	+6.2%
AGU	Buy	AGRIUM INC COM	$18,829,000	+97.5%	220,256	+100.9%	1.09%	-3.7%
SIG	Buy	SIGNET JEWELERS	$18,675,000	+102.4%	268,700	+96.4%	1.08%	-1.3%
ATW	Buy	ATWOOD OCEANICS	$18,154,000	+106.0%	339,031	+100.2%	1.06%	+0.5%
GIII	Buy	G-III APPAREL GROUP LTD.	$18,001,000	+114.5%	350,416	+100.9%	1.05%	+4.6%
BDC	Buy	BELDEN CDT	$17,675,000	+121.4%	311,204	+94.7%	1.03%	+8.0%
XOM	Buy	EXXON MOBIL CORP COM	$17,602,000	+91.2%	199,468	+95.7%	1.02%	-6.7%
AWHHF	Buy	ALLIED WORLD ASSURANCE CO.	$17,564,000	+109.2%	183,984	+100.5%	1.02%	+2.1%
DOX	Buy	AMDOCS LTD.ord	$17,459,000	+99.8%	473,594	+101.0%	1.02%	-2.5%
CRMT	Buy	AMERICA'S CAR-MART INC	$17,217,000	+110.5%	389,509	+105.9%	1.00%	+2.7%
TUP	Buy	TUPPERWARE BRANDS CORP	$17,132,000	+109.6%	208,939	+98.6%	1.00%	+2.3%
TS	Buy	TENARISsponsored adr	$17,094,000	+111.7%	393,313	+96.2%	0.99%	+3.2%
MTB	Buy	M AND T BANK	$16,944,000	+100.3%	151,515	+100.2%	0.98%	-2.3%
BCEI	Buy	BONANZA CREEK ENERGY	$16,859,000	+151.0%	399,573	+111.0%	0.98%	+22.5%
JCI	Buy	JOHNSON CTLS INC	$16,315,000	+111.6%	422,783	+96.2%	0.95%	+3.2%
JBL	Buy	JABIL CIRCUIT INC.	$15,493,000	+76.7%	740,400	+72.1%	0.90%	-13.9%
SSS	Buy	SOVRAN SELF STORAGE COM	$15,393,000	+111.9%	219,520	+95.8%	0.90%	+3.5%
LRCX	Buy	LAM RESEARCH CORP	$15,278,000	+334.2%	309,031	+289.4%	0.89%	+111.9%
QRTEA	Buy	LIBERTY INTERACTIVE	$15,258,000	+379.7%	652,806	+372.3%	0.89%	+134.0%
ARCC	Buy	ARES CAPITAL CORPORATION	$14,641,000	+100.9%	848,981	+100.4%	0.85%	-2.0%
BMR	Buy	BIOMEDICAL REALTY TRUST INC	$13,973,000	+88.7%	719,352	+96.5%	0.81%	-7.9%
DLR	Buy	DIGITAL REALTY TRUST	$13,452,000	+84.1%	235,522	+96.6%	0.78%	-10.1%
SWK	Buy	STANLEY BLACK AND DECKER	$13,130,000	+117.2%	156,430	+100.0%	0.76%	+6.0%
VLO	Buy	VALERO ENERGY CORP	$13,064,000	+93.3%	379,007	+94.9%	0.76%	-5.7%
RLJ	Buy	RLJ LODGING TRUST	$13,003,000	+104.9%	565,568	+100.4%	0.76%	0.0%
LTC	Buy	LTC PROPERTIES INC	$12,791,000	+97.2%	332,091	+100.0%	0.74%	-3.9%
POT	Buy	POTASH CORP	$12,605,000	+81.9%	363,193	+99.8%	0.73%	-11.3%
OHI	Buy	OMEGA HEALTHCARE INVESTORS INC.	$12,611,000	+92.7%	414,082	+96.3%	0.73%	-6.0%
TWX	New	TIME WARNER INC COM	$12,304,000	–	186,955	–	0.72%	–
RE	New	EVEREST RE	$10,606,000	–	72,936	–	0.62%	–
RCI	New	ROGERS COMMUNICATION INC.cl b	$9,120,000	–	212,037	–	0.53%	–
FLR	New	FLUOR	$8,225,000	–	115,905	–	0.48%	–
UTX	Buy	UNITED TECHNOLOGIES CORP COM	$5,625,000	+94.2%	56,472	+81.2%	0.33%	-5.2%
USTR	Buy	UNITED STATIONERS	$5,520,000	+112.3%	144,704	+86.7%	0.32%	+3.5%
ESRX	New	EXPRESS-SCRIPTS INC.	$4,656,000	–	75,336	–	0.27%	–
NBL	Buy	NOBLE ENERGY	$4,533,000	+129.8%	71,065	+116.2%	0.26%	+11.9%
TCAP	Buy	TRIANGLE CAPITAL CORP	$4,391,000	+85.7%	154,935	+80.3%	0.26%	-9.6%
GS	Buy	GOLDMAN SACHS	$4,002,000	+89.5%	25,911	+85.6%	0.23%	-7.5%
MPW	Buy	MEDICAL PROPERTIES TRUST	$3,677,000	+75.7%	276,304	+89.1%	0.21%	-14.1%
FISV	Buy	FISERV INC.	$3,645,000	+87.8%	39,072	+76.0%	0.21%	-8.2%
ARII	Buy	AMERICAN RAIL CAR INC	$3,415,000	+389.3%	90,070	+332.6%	0.20%	+138.6%
ANN	Buy	ANN INC	$3,348,000	+111.6%	96,420	+102.3%	0.20%	+3.7%
AAN	Buy	AARONS INC	$3,322,000	+105.2%	119,275	+106.4%	0.19%	0.0%
NKE	Buy	NIKEcl b	$3,316,000	+85.5%	49,108	+74.9%	0.19%	-9.4%
ACE	Buy	ACE LTD	$3,202,000	+91.4%	35,044	+87.4%	0.19%	-6.5%
CULP	Buy	CULP INC	$3,168,000	+110.1%	175,469	+102.3%	0.18%	+2.2%
NP	Buy	NEENAH PAPER	$3,105,000	+90.3%	88,852	+72.9%	0.18%	-7.2%
ADP	Buy	AUTOMATIC DATA PROCESSING	$3,018,000	+85.8%	42,834	+81.7%	0.18%	-9.3%
APA	Buy	APACHE CP	$2,725,000	+87.8%	32,268	+86.5%	0.16%	-8.7%
CW	Buy	CURTISS-WRIGHT CORP	$2,618,000	+118.2%	62,592	+93.2%	0.15%	+6.3%
MNTX	Buy	MANITEX INTERNATIONAL	$2,564,000	+124.7%	234,376	+124.9%	0.15%	+9.6%
BAX	Buy	BAXTER INTERNATIONAL	$2,466,000	+93.0%	36,522	+98.0%	0.14%	-5.9%
GBDC	Buy	GOLUB CAPITAL BDC	$2,469,000	+103.4%	141,768	+104.4%	0.14%	-1.4%
SNECQ	New	SANCHEZ ENERGY CORP.	$2,253,000	–	85,300	–	0.13%	–
ACM	Buy	AECOM TECH CORP.	$2,049,000	+101.3%	64,968	+103.0%	0.12%	-1.7%
MDT	Buy	MEDTRONIC INC COM	$1,853,000	+68.9%	35,502	+66.6%	0.11%	-17.6%
EMN	Buy	EASTMAN CHEMICAL CO	$1,747,000	+120.6%	23,578	+108.4%	0.10%	+8.5%
LH	Buy	LABORATORY CORP. OF AMERICA	$1,651,000	+99.2%	16,569	+100.1%	0.10%	-3.0%
SYRG	Buy	SYNERGY RESOURCES INC.	$1,399,000	+90.6%	168,526	+68.0%	0.08%	-6.9%
TJX	Buy	TJX COMPANIES	$1,235,000	+112.6%	23,212	+100.0%	0.07%	+4.3%
FSP	Buy	FRANKLIN STREET PROPERTIES	$1,161,000	+98.5%	89,540	+102.0%	0.07%	-4.3%
OEH	Buy	ORIENT EXPRESS HOTELScl a	$889,000	+113.2%	70,675	+106.1%	0.05%	+4.0%
WCC	Buy	WESCO INTERNATIONAL	$790,000	+122.5%	10,907	+109.0%	0.05%	+9.5%
CNBKA	Buy	CENTURY BANCORPvtg	$575,000	+98.3%	16,842	+103.0%	0.03%	-5.7%
SNA	Buy	SNAP-ON INC	$541,000	+108.9%	5,733	+98.1%	0.03%	0.0%
FRC	Buy	FIRST REPUBLIC BANK	$490,000	+129.0%	11,470	+106.3%	0.03%	+12.0%
HFC	Buy	HOLLYFRONTIER CORP	$460,000	+119.0%	10,836	+121.1%	0.03%	+8.0%
NTGR	New	NETGEAR INC	$407,000	–	13,187	–	0.02%	–
SWKS	New	SKYWORKS SOLUTIONS	$395,000	–	15,910	–	0.02%	–
UFPT	New	UFP TECHNOLOGIES, INC	$327,000	–	14,350	–	0.02%	–
MCC	New	MEDLEY CAPITAL CORP	$302,000	–	21,930	–	0.02%	–
CNBC	New	CENTER BANCORP, INC	$283,000	–	19,887	–	0.02%	–
CAC	New	CAMDEN NATIONAL CORP	$225,000	–	5,515	–	0.01%	–
RDSA	New	ROYAL DUTCH SHELL ADSspons adr a	$216,000	–	3,283	–	0.01%	–
TCO	New	TAUBMAN CENTERS INC	$209,000	–	3,105	–	0.01%	–

Q2 2013

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC CL Bcl b new	$23,784,000	–	212,506	–	2.83%	–
ACT	New	ACTAVIS INC	$14,470,000	–	114,639	–	1.72%	–
A309PS	New	DIRECTV CO	$13,297,000	–	215,718	–	1.58%	–
VFC	New	VF CORP	$12,929,000	–	66,967	–	1.54%	–
VIAB	New	VIACOM INC CL Bcl b	$12,706,000	–	186,768	–	1.51%	–
CBS	New	CBSnew cl b	$12,685,000	–	259,559	–	1.51%	–
WPP	New	WPP PLCnew adr	$12,537,000	–	146,816	–	1.49%	–
WFC	New	WELLS FARGO AND CO	$12,326,000	–	298,672	–	1.47%	–
OMC	New	OMNICOM GROUP INC	$12,328,000	–	196,084	–	1.47%	–
CSCO	New	CISCO SYS INC COM	$12,255,000	–	503,603	–	1.46%	–
DIS	New	DISNEY WALT CO COM	$12,057,000	–	190,923	–	1.44%	–
BKE	New	THE BUCKLE	$11,992,000	–	230,521	–	1.43%	–
CMCSK	New	COMCAST CORP CL A SPLspl	$11,935,000	–	300,849	–	1.42%	–
TMO	New	THERMO FISHER SCIENTIFIC	$11,749,000	–	138,825	–	1.40%	–
MYL	New	MYLAN	$11,738,000	–	378,284	–	1.40%	–
QCOM	New	QUALCOMM INC	$11,702,000	–	191,548	–	1.39%	–
MAT	New	MATTEL	$11,669,000	–	257,536	–	1.39%	–
BBBY	New	BED BATH AND BEYOND	$11,599,000	–	163,487	–	1.38%	–
ROST	New	ROSS STORES INC COM	$11,509,000	–	177,583	–	1.37%	–
FDX	New	FEDEX CORP	$11,311,000	–	114,741	–	1.35%	–
MDP	New	MEREDITH CORP	$11,306,000	–	237,018	–	1.35%	–
DOV	New	DOVER CORP	$11,307,000	–	145,597	–	1.35%	–
CBI	New	CHICAGO BRIDGE AND IRON CO	$11,194,000	–	187,630	–	1.33%	–
PVH	New	PVH Corp	$11,147,000	–	89,140	–	1.33%	–
USB	New	US BANCORP DEL COMnew	$11,077,000	–	306,415	–	1.32%	–
CHKP	New	CHECK POINT SOFTWAREord	$11,051,000	–	222,445	–	1.32%	–
CVS	New	CVS CAREMARK	$11,055,000	–	193,337	–	1.32%	–
TD	New	TORONTO DOMINION	$10,759,000	–	133,869	–	1.28%	–
EMC	New	EMC CORP	$10,747,000	–	455,012	–	1.28%	–
ORCL	New	ORACLE	$10,737,000	–	349,614	–	1.28%	–
MEOH	New	METHANEX CORP.	$10,682,000	–	249,379	–	1.27%	–
ZBH	New	ZIMMER HOLDINGS	$10,542,000	–	140,668	–	1.26%	–
ESV	New	ENSCO	$10,337,000	–	177,862	–	1.23%	–
INGR	New	INGREDION INC	$10,282,000	–	156,687	–	1.22%	–
ARW	New	ARROW ELECTRS INC COM	$10,267,000	–	257,635	–	1.22%	–
RY	New	ROYAL BANK OF CANADA	$10,204,000	–	174,998	–	1.22%	–
WLL	New	WHITING PETROLEUM	$10,155,000	–	220,328	–	1.21%	–
PCP	New	PRECISION CASTPARTS CORP	$10,113,000	–	44,746	–	1.20%	–
EPD	New	ENTERPRISE PRODUCT PARTNERS LP	$10,019,000	–	161,203	–	1.19%	–
AVT	New	AVNET INC COM	$9,969,000	–	296,701	–	1.19%	–
RCII	New	RENT-A-CENTER INC	$9,959,000	–	265,207	–	1.19%	–
DE	New	DEERE	$9,932,000	–	122,245	–	1.18%	–
MCK	New	MCKESSON	$9,873,000	–	86,229	–	1.18%	–
HP	New	HELMERICH AND PAYNE	$9,870,000	–	158,047	–	1.18%	–
FDO	New	FAMILY DOLLAR STORES INC	$9,813,000	–	157,493	–	1.17%	–
HON	New	HONEYWELL INTERNATIONAL INC	$9,597,000	–	120,955	–	1.14%	–
DEO	New	DIAGEOspon adr new	$9,539,000	–	82,981	–	1.14%	–
AGU	New	AGRIUM INC COM	$9,535,000	–	109,647	–	1.14%	–
TSN	New	TYSON FOODScl a	$9,527,000	–	370,977	–	1.14%	–
SIG	New	SIGNET JEWELERS	$9,227,000	–	136,835	–	1.10%	–
XOM	New	EXXON MOBIL CORP COM	$9,208,000	–	101,913	–	1.10%	–
SNDK	New	SANDISK CORPORATION	$9,130,000	–	149,426	–	1.09%	–
ATW	New	ATWOOD OCEANICS	$8,814,000	–	169,333	–	1.05%	–
JBL	New	JABIL CIRCUIT INC.	$8,769,000	–	430,275	–	1.04%	–
DOX	New	AMDOCS LTD.ord	$8,739,000	–	235,607	–	1.04%	–
FL	New	FOOT LOCKER INC	$8,665,000	–	246,665	–	1.03%	–
WU	New	WESTERN UNION CO.	$8,649,000	–	505,500	–	1.03%	–
MTB	New	M AND T BANK	$8,459,000	–	75,700	–	1.01%	–
GIII	New	G-III APPAREL GROUP LTD.	$8,391,000	–	174,383	–	1.00%	–
AWHHF	New	ALLIED WORLD ASSURANCE CO.	$8,396,000	–	91,746	–	1.00%	–
CRMT	New	AMERICA'S CAR-MART INC	$8,180,000	–	189,180	–	0.98%	–
TUP	New	TUPPERWARE BRANDS CORP	$8,175,000	–	105,232	–	0.97%	–
TS	New	TENARISadr	$8,074,000	–	200,494	–	0.96%	–
BDC	New	BELDEN CDT	$7,982,000	–	159,862	–	0.95%	–
JCI	New	JOHNSON CTLS INC	$7,710,000	–	215,431	–	0.92%	–
TKR	New	TIMKEN CO	$7,554,000	–	134,213	–	0.90%	–
BMR	New	BIOMEDICAL REALTY TRUST INC	$7,406,000	–	366,092	–	0.88%	–
DLR	New	DIGITAL REALTY TRUST	$7,306,000	–	119,775	–	0.87%	–
ARCC	New	ARES CAPITAL CORPORATION	$7,287,000	–	423,635	–	0.87%	–
SSS	New	SOVRAN SELF STORAGE COM	$7,263,000	–	112,099	–	0.86%	–
POT	New	POTASH CORP	$6,931,000	–	181,784	–	0.83%	–
VLO	New	VALERO ENERGY CORP	$6,760,000	–	194,416	–	0.80%	–
BCEI	New	BONANZA CREEK ENERGY	$6,716,000	–	189,389	–	0.80%	–
OHI	New	OMEGA HEALTHCARE INVESTORS INC.	$6,543,000	–	210,941	–	0.78%	–
LTC	New	LTC PROPERTIES INC	$6,485,000	–	166,058	–	0.77%	–
RLJ	New	RLJ LODGING TRUST	$6,346,000	–	282,184	–	0.76%	–
A	New	AGILENT TECHNOLOGIES	$6,263,000	–	146,464	–	0.75%	–
SWK	New	STANLEY BLACK AND DECKER	$6,046,000	–	78,215	–	0.72%	–
LRCX	New	LAM RESEARCH CORP	$3,519,000	–	79,361	–	0.42%	–
QRTEA	New	LIBERTY INTERACTIVE	$3,181,000	–	138,233	–	0.38%	–
UTX	New	UNITED TECHNOLOGIES CORP COM	$2,897,000	–	31,171	–	0.34%	–
MSFT	New	MICROSOFT CORP COM	$2,607,000	–	75,458	–	0.31%	–
USTR	New	UNITED STATIONERS	$2,600,000	–	77,487	–	0.31%	–
TCAP	New	TRIANGLE CAPITAL CORP	$2,364,000	–	85,916	–	0.28%	–
GS	New	GOLDMAN SACHS	$2,112,000	–	13,963	–	0.25%	–
MPW	New	MEDICAL PROPERTIES TRUST	$2,093,000	–	146,127	–	0.25%	–
NBL	New	NOBLE ENERGY	$1,973,000	–	32,866	–	0.24%	–
FISV	New	FISERV INC.	$1,941,000	–	22,205	–	0.23%	–
NKE	New	NIKEcl b	$1,788,000	–	28,076	–	0.21%	–
ACE	New	ACE LTD	$1,673,000	–	18,700	–	0.20%	–
ETN	New	EATON CORP	$1,666,000	–	25,319	–	0.20%	–
NP	New	NEENAH PAPER	$1,632,000	–	51,379	–	0.19%	–
ADP	New	AUTOMATIC DATA PROCESSING	$1,624,000	–	23,577	–	0.19%	–
AAN	New	AARONS INC	$1,619,000	–	57,795	–	0.19%	–
ANN	New	ANN INC	$1,582,000	–	47,665	–	0.19%	–
CULP	New	CULP INC	$1,508,000	–	86,722	–	0.18%	–
APA	New	APACHE CP	$1,451,000	–	17,304	–	0.17%	–
TWI	New	TITAN INTERNATIONAL	$1,409,000	–	83,529	–	0.17%	–
BAX	New	BAXTER INTERNATIONAL	$1,278,000	–	18,443	–	0.15%	–
GBDC	New	GOLUB CAPITAL BDC	$1,214,000	–	69,344	–	0.14%	–
CW	New	CURTISS-WRIGHT CORP	$1,200,000	–	32,391	–	0.14%	–
MNTX	New	MANITEX INTERNATIONAL	$1,141,000	–	104,213	–	0.14%	–
MDT	New	MEDTRONIC INC COM	$1,097,000	–	21,304	–	0.13%	–
ACM	New	AECOM TECH CORP.	$1,018,000	–	32,009	–	0.12%	–
AEC	New	ASSOCIATED ESTATES REALTY	$976,000	–	60,725	–	0.12%	–
LH	New	LABORATORY CORP. OF AMERICA	$829,000	–	8,281	–	0.10%	–
EMN	New	EASTMAN CHEMICAL CO	$792,000	–	11,315	–	0.09%	–
SYRG	New	SYNERGY RESOURCES INC.	$734,000	–	100,313	–	0.09%	–
ARII	New	AMERICAN RAIL CAR INC	$698,000	–	20,820	–	0.08%	–
STO	New	STATOIL HYDRO ASAadr	$684,000	–	33,047	–	0.08%	–
FSP	New	FRANKLIN STREET PROPERTIES	$585,000	–	44,335	–	0.07%	–
TJX	New	TJX COMPANIES	$581,000	–	11,606	–	0.07%	–
VRA	New	VERA BRADLEY	$426,000	–	19,665	–	0.05%	–
OEH	New	ORIENT EXPRESS HOTELScl a	$417,000	–	34,290	–	0.05%	–
WCC	New	WESCO INTERNATIONAL	$355,000	–	5,218	–	0.04%	–
ZEP	New	ZEP INC	$307,000	–	19,410	–	0.04%	–
CNBKA	New	CENTURY BANCORPvtg	$290,000	–	8,296	–	0.04%	–
SNA	New	SNAP-ON INC	$259,000	–	2,894	–	0.03%	–
HFC	New	HOLLYFRONTIER CORP	$210,000	–	4,900	–	0.02%	–
FRC	New	FIRST REPUBLIC BANK	$214,000	–	5,560	–	0.02%	–
HDSN	New	HUDSON TECHNOLOGIES	$127,000	–	39,773	–	0.02%	–

Compare quarters

Export DELPHI MANAGEMENT INC /MA/'s holdings