Q3 2023
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CDW | Sell | CDW Corporation | $256,951,005 | +9.3% | 1,273,548 | -0.6% | 6.67% | +13.8% |
| ROST | Sell | Ross Stores, Inc. | $188,818,719 | -0.4% | 1,671,702 | -1.1% | 4.90% | +3.7% |
| BRO | Sell | Brown & Brown, Inc. | $169,731,814 | -8.8% | 2,430,295 | -10.2% | 4.41% | -5.1% |
| IEX | Buy | IDEX Corporation | $160,885,069 | +0.4% | 773,412 | +3.9% | 4.18% | +4.6% |
| SYK | Sell | Stryker Corporation | $144,210,144 | -10.6% | 527,720 | -0.2% | 3.75% | -6.9% |
| VMC | Sell | Vulcan Materials | $134,831,700 | -10.9% | 667,418 | -0.6% | 3.50% | -7.2% |
| APD | Sell | Air Products & Chemicals, Inc. | $132,985,549 | -5.7% | 469,250 | -0.3% | 3.45% | -1.8% |
| MKL | Sell | Markel Corporation | $130,659,928 | +6.0% | 88,734 | -0.4% | 3.39% | +10.4% |
| MCHP | Sell | Microchip Technology Incorpora | $109,775,333 | -13.4% | 1,406,474 | -0.6% | 2.85% | -9.8% |
| TT | Sell | Trane Technologies PLC | $106,352,418 | +5.2% | 524,136 | -0.8% | 2.76% | +9.5% |
| FAST | Buy | Fastenal Co | $99,220,575 | -7.2% | 1,815,896 | +0.2% | 2.58% | -3.4% |
| AJG | Sell | Arthur J. Gallagher & Co. | $99,089,425 | +2.5% | 434,736 | -1.3% | 2.57% | +6.7% |
| APH | Buy | Amphenol Corp. | $97,648,623 | -1.1% | 1,162,622 | +0.1% | 2.54% | +3.0% |
| ITW | Sell | Illinois Tool Works Inc. | $88,207,207 | -10.3% | 382,993 | -2.6% | 2.29% | -6.6% |
| AZO | Sell | AutoZone, Inc. | $86,959,098 | +0.6% | 34,236 | -1.3% | 2.26% | +4.7% |
| ADI | Sell | Analog Devices Inc | $81,924,881 | -10.2% | 467,902 | -0.1% | 2.13% | -6.5% |
| Buy | Brookfield Corp | $81,470,290 | -6.5% | 2,605,382 | +0.6% | 2.12% | -2.7% | |
| PGR | Buy | Progressive Corp. | $80,664,613 | +44.7% | 579,071 | +37.5% | 2.10% | +50.7% |
| GGG | Sell | Graco Inc. | $77,740,950 | -16.0% | 1,066,698 | -0.5% | 2.02% | -12.6% |
| EXLS | Buy | Exlservice Holdings Inc. | $74,818,739 | +173.7% | 2,668,286 | +1374.5% | 1.94% | +184.9% |
| ZBRA | Buy | Zebra Technologies A | $74,435,518 | -19.7% | 314,698 | +0.4% | 1.93% | -16.5% |
| PNFP | Sell | Pinnacle Financial Partners, I | $73,010,977 | +18.3% | 1,089,066 | -0.0% | 1.90% | +23.1% |
| BKNG | Sell | Booking Holdings Inc. | $62,591,849 | +13.6% | 20,296 | -0.6% | 1.63% | +18.3% |
| BRKA | Sell | Berkshire Hathaway Inc. A | $57,399,516 | -7.6% | 108 | -10.0% | 1.49% | -3.8% |
| TROW | Sell | T Rowe Price Group, Inc. | $55,689,955 | -9.5% | 531,038 | -3.3% | 1.45% | -5.8% |
| BR | Buy | Broadridge Financial Solutions | $53,626,907 | +8.4% | 299,508 | +0.3% | 1.39% | +12.9% |
| WAT | New | Waters Corporation | $50,896,667 | – | 185,612 | – | 1.32% | – |
| EOG | Sell | EOG Resources, Inc. | $48,037,280 | +4.9% | 378,962 | -5.3% | 1.25% | +9.2% |
| KMX | Sell | CarMax, Inc. | $44,940,427 | -16.9% | 635,380 | -1.7% | 1.17% | -13.6% |
| HEIA | Buy | HEICO Corp. Class A | $44,128,762 | -7.7% | 341,501 | +0.4% | 1.15% | -3.9% |
| PAYX | Buy | Paychex Inc | $42,798,848 | +12.1% | 371,099 | +8.8% | 1.11% | +16.8% |
| RSG | Buy | Republic Services, Inc. | $42,667,779 | -6.7% | 299,402 | +0.3% | 1.11% | -2.8% |
| ENTG | Buy | Entegris, Inc. | $41,428,490 | -15.2% | 441,151 | +0.1% | 1.08% | -11.7% |
| STE | Buy | Steris PLC | $40,893,370 | -2.4% | 186,370 | +0.1% | 1.06% | +1.5% |
| SSB | Sell | SouthState Corporation | $40,578,540 | +0.7% | 602,413 | -1.6% | 1.05% | +4.9% |
| FBHS | Buy | Fortune Brands Home & Sec Inc | $39,876,048 | -13.2% | 641,507 | +0.5% | 1.04% | -9.6% |
| AVY | Sell | Avery Dennison Corp | $35,629,418 | -63.7% | 195,048 | -65.9% | 0.92% | -62.3% |
| POOL | Buy | Pool Corp | $34,944,449 | -2.1% | 98,131 | +3.0% | 0.91% | +1.9% |
| CTAS | Buy | Cintas Corp | $33,038,653 | +8.1% | 68,686 | +11.7% | 0.86% | +12.5% |
| JKHY | Buy | Jack Henry & Associates Inc | $31,141,641 | -9.3% | 206,045 | +0.4% | 0.81% | -5.6% |
| G | Sell | Genpact | $28,732,592 | -11.4% | 793,718 | -8.1% | 0.75% | -7.8% |
| Sell | Brookfield Asset Management Lt | $28,576,604 | -1.0% | 857,127 | -3.1% | 0.74% | +3.1% | |
| CBZ | Buy | CBIZ, Inc. | $27,668,357 | -2.3% | 533,109 | +0.3% | 0.72% | +1.7% |
| DG | Sell | Dollar General Corporation | $26,652,260 | -38.5% | 251,912 | -1.4% | 0.69% | -36.0% |
| CHH | Sell | Choice Hotels International, I | $20,425,847 | +3.6% | 166,728 | -0.6% | 0.53% | +7.9% |
| ROP | Buy | Roper Technologies, Inc. | $20,400,295 | +112.1% | 42,125 | +110.6% | 0.53% | +120.8% |
| CIGI | Buy | Colliers International Group I | $19,928,491 | +4.6% | 209,223 | +7.8% | 0.52% | +9.1% |
| WSO | Buy | Watsco, Inc. | $18,376,078 | -0.3% | 48,650 | +0.7% | 0.48% | +3.7% |
| LSTR | Sell | Landstar System, Inc. | $17,468,932 | -9.0% | 98,728 | -1.0% | 0.45% | -5.2% |
| BIPC | Buy | Brookfield Infrastructure Corp | $16,283,506 | -0.6% | 460,767 | +28.2% | 0.42% | +3.4% |
| SITE | Sell | Siteone Landscape Supply Inc. | $16,186,617 | -3.8% | 99,031 | -1.5% | 0.42% | 0.0% |
| TRRSF | Sell | Trisura Group Ltd. | $14,626,129 | -23.3% | 654,410 | -1.5% | 0.38% | -20.0% |
| SPSC | Sell | SPS Commerce Inc. | $14,640,215 | -17.0% | 85,811 | -6.5% | 0.38% | -13.6% |
| FND | Sell | Floor & Decor Holdings | $13,891,750 | -14.4% | 153,500 | -1.7% | 0.36% | -10.9% |
| FSV | Sell | FirstService Corporation | $13,548,464 | -5.6% | 93,091 | -0.0% | 0.35% | -1.7% |
| NOMD | Buy | Nomad Foods Ltd | $13,528,951 | -2.1% | 888,893 | +12.7% | 0.35% | +1.7% |
| DFH | Sell | Dream Finders Homes Inc. | $13,210,022 | -10.7% | 594,243 | -1.3% | 0.34% | -7.0% |
| FELE | Buy | Franklin Electric Co., Inc. | $12,708,583 | -13.3% | 142,425 | +0.0% | 0.33% | -9.8% |
| CASS | Sell | Cass Information Systems Inc. | $12,474,913 | -5.6% | 334,897 | -1.7% | 0.32% | -1.8% |
| ESI | New | Element Solutions Inc | $11,872,070 | – | 605,409 | – | 0.31% | – |
| BOMN | Buy | Boston Omaha Corporation | $11,304,249 | +0.9% | 689,704 | +15.8% | 0.29% | +5.0% |
| MKC | Buy | McCormick & Company | $11,203,797 | +13.3% | 148,120 | +30.7% | 0.29% | +17.8% |
| HOMB | Buy | Home BancShares, Inc. | $10,559,121 | -8.1% | 504,256 | +0.0% | 0.27% | -4.5% |
| FTDR | Buy | Frontdoor, Inc. | $10,172,766 | -3.4% | 332,552 | +0.7% | 0.26% | +0.4% |
| DSGX | Buy | Descartes Systems Group Inc. | $9,880,397 | -8.4% | 134,647 | +0.0% | 0.26% | -4.5% |
| BRKB | Sell | Berkshire Hathaway Inc. B | $9,139,677 | -8.9% | 26,091 | -11.3% | 0.24% | -5.2% |
| EXPO | New | Exponent, Inc. | $9,091,062 | – | 106,204 | – | 0.24% | – |
| Buy | Hagerty, Inc. | $7,660,895 | -11.8% | 937,686 | +1.1% | 0.20% | -8.3% | |
| CSV | Sell | Carriage Services Inc. | $4,840,270 | -44.8% | 171,337 | -36.5% | 0.13% | -42.5% |
| AAPL | Sell | Apple, Inc. | $2,764,357 | -14.1% | 16,146 | -2.7% | 0.07% | -10.0% |
| XOM | Sell | Exxon Mobil Corporation | $2,392,988 | +2.6% | 20,352 | -6.4% | 0.06% | +6.9% |
| THG | Sell | The Hanover Group | $923,909 | -96.0% | 8,325 | -96.0% | 0.02% | -95.9% |
| MRK | Sell | Merck & Co Inc New | $725,798 | -10.9% | 7,050 | -0.1% | 0.02% | -5.0% |
| MSFT | Sell | Microsoft Corp | $695,480 | -43.3% | 2,203 | -38.9% | 0.02% | -41.9% |
| TWNK | Sell | Hostess Brands Inc. | $622,897 | -96.4% | 18,700 | -97.3% | 0.02% | -96.3% |
| IBM | Sell | International Business Machine | $587,857 | -6.3% | 4,190 | -10.7% | 0.02% | -6.2% |
| ETN | Sell | Eaton Corp PLC | $352,978 | +5.7% | 1,655 | -0.3% | 0.01% | +12.5% |
| PG | Sell | Procter & Gamble Co | $290,116 | -40.0% | 1,989 | -37.6% | 0.01% | -33.3% |
| UNP | Sell | Union Pacific Corp. | $322,550 | -0.8% | 1,584 | -0.3% | 0.01% | 0.0% |
| CMI | Sell | Cummins Inc | $278,036 | -7.2% | 1,217 | -0.4% | 0.01% | 0.0% |
| AMGN | Sell | Amgen Incorporated | $245,647 | -29.3% | 914 | -41.6% | 0.01% | -33.3% |
| CVX | Exit | Chevron Corporation | $0 | – | -1,355 | – | -0.01% | – |
| XYL | Exit | Xylem, Inc. | $0 | – | -1,817 | – | -0.01% | – |
| AMAT | Exit | Applied Materials Inc | $0 | – | -1,400 | – | -0.01% | – |
| Exit | Linde Plc | $0 | – | -600 | – | -0.01% | – | |
| DHR | Exit | Danaher Corporation | $0 | – | -1,000 | – | -0.01% | – |
| SJM | Exit | Smuckers, Jm | $0 | – | -1,528 | – | -0.01% | – |
| RTX | Exit | Raytheon Technologies Corp | $0 | – | -2,421 | – | -0.01% | – |
| PAG | Exit | Penske Automotive Group Inc. | $0 | – | -88,591 | – | -0.37% | – |
| FIS | Exit | Fidelity National Info Service | $0 | – | -653,333 | – | -0.89% | – |
Q2 2023
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CDW | New | CDW Corporation | $235,070,386 | – | 1,281,038 | – | 5.86% | – |
| ROST | New | Ross Stores, Inc. | $189,570,720 | – | 1,690,633 | – | 4.73% | – |
| BRO | New | Brown & Brown, Inc. | $186,205,045 | – | 2,704,896 | – | 4.65% | – |
| SYK | New | Stryker Corporation | $161,333,208 | – | 528,805 | – | 4.02% | – |
| IEX | New | IDEX Corporation | $160,186,677 | – | 744,154 | – | 4.00% | – |
| VMC | New | Vulcan Materials | $151,298,074 | – | 671,123 | – | 3.78% | – |
| APD | New | Air Products & Chemicals, Inc. | $140,983,999 | – | 470,684 | – | 3.52% | – |
| MCHP | New | Microchip Technology Incorpora | $126,712,514 | – | 1,414,360 | – | 3.16% | – |
| MKL | New | Markel Corporation | $123,269,002 | – | 89,120 | – | 3.08% | – |
| FAST | New | Fastenal Co | $106,918,676 | – | 1,812,488 | – | 2.67% | – |
| TT | New | Trane Technologies PLC | $101,086,212 | – | 528,528 | – | 2.52% | – |
| APH | New | Amphenol Corp. | $98,704,142 | – | 1,161,909 | – | 2.46% | – |
| ITW | New | Illinois Tool Works Inc. | $98,352,679 | – | 393,159 | – | 2.45% | – |
| AVY | New | Avery Dennison Corp | $98,234,707 | – | 571,797 | – | 2.45% | – |
| AJG | New | Arthur J. Gallagher & Co. | $96,710,751 | – | 440,455 | – | 2.41% | – |
| ZBRA | New | Zebra Technologies A | $92,735,309 | – | 313,475 | – | 2.31% | – |
| GGG | New | Graco Inc. | $92,570,050 | – | 1,072,033 | – | 2.31% | – |
| ADI | New | Analog Devices Inc | $91,233,076 | – | 468,318 | – | 2.28% | – |
| New | Brookfield Corp | $87,176,047 | – | 2,590,670 | – | 2.18% | – | |
| AZO | New | AutoZone, Inc. | $86,479,698 | – | 34,684 | – | 2.16% | – |
| BRKA | New | Berkshire Hathaway Inc. A | $62,137,200 | – | 120 | – | 1.55% | – |
| PNFP | New | Pinnacle Financial Partners, I | $61,709,371 | – | 1,089,309 | – | 1.54% | – |
| TROW | New | T Rowe Price Group, Inc. | $61,514,327 | – | 549,137 | – | 1.54% | – |
| PGR | New | Progressive Corp. | $55,729,507 | – | 421,013 | – | 1.39% | – |
| BKNG | New | Booking Holdings Inc. | $55,113,735 | – | 20,410 | – | 1.38% | – |
| KMX | New | CarMax, Inc. | $54,092,046 | – | 646,261 | – | 1.35% | – |
| BR | New | Broadridge Financial Solutions | $49,453,474 | – | 298,578 | – | 1.23% | – |
| ENTG | New | Entegris, Inc. | $48,861,425 | – | 440,908 | – | 1.22% | – |
| HEIA | New | HEICO Corp. Class A | $47,825,371 | – | 340,152 | – | 1.19% | – |
| FBHS | New | Fortune Brands Home & Sec Inc | $45,932,883 | – | 638,400 | – | 1.15% | – |
| EOG | New | EOG Resources, Inc. | $45,803,694 | – | 400,242 | – | 1.14% | – |
| RSG | New | Republic Services, Inc. | $45,713,740 | – | 298,451 | – | 1.14% | – |
| DG | New | Dollar General Corporation | $43,355,782 | – | 255,364 | – | 1.08% | – |
| STE | New | Steris PLC | $41,907,530 | – | 186,272 | – | 1.05% | – |
| SSB | New | SouthState Corporation | $40,300,131 | – | 612,464 | – | 1.00% | – |
| PAYX | New | Paychex Inc | $38,173,624 | – | 341,232 | – | 0.95% | – |
| FIS | New | Fidelity National Info Service | $35,737,302 | – | 653,333 | – | 0.89% | – |
| POOL | New | Pool Corp | $35,694,950 | – | 95,278 | – | 0.89% | – |
| JKHY | New | Jack Henry & Associates Inc | $34,350,004 | – | 205,283 | – | 0.86% | – |
| G | New | Genpact | $32,442,935 | – | 863,533 | – | 0.81% | – |
| CTAS | New | Cintas Corp | $30,572,905 | – | 61,505 | – | 0.76% | – |
| New | Brookfield Asset Management Lt | $28,863,132 | – | 884,558 | – | 0.72% | – | |
| CBZ | New | CBIZ, Inc. | $28,323,595 | – | 531,599 | – | 0.71% | – |
| EXLS | New | Exlservice Holdings Inc. | $27,335,969 | – | 180,961 | – | 0.68% | – |
| THG | New | The Hanover Group | $23,292,996 | – | 206,078 | – | 0.58% | – |
| CHH | New | Choice Hotels International, I | $19,721,854 | – | 167,817 | – | 0.49% | – |
| LSTR | New | Landstar System, Inc. | $19,196,623 | – | 99,702 | – | 0.48% | – |
| CIGI | New | Colliers International Group I | $19,048,565 | – | 193,997 | – | 0.48% | – |
| TRRSF | New | Trisura Group Ltd. | $19,058,092 | – | 664,045 | – | 0.48% | – |
| WSO | New | Watsco, Inc. | $18,432,249 | – | 48,319 | – | 0.46% | – |
| SPSC | New | SPS Commerce Inc. | $17,632,837 | – | 91,809 | – | 0.44% | – |
| TWNK | New | Hostess Brands Inc. | $17,333,439 | – | 684,575 | – | 0.43% | – |
| SITE | New | Siteone Landscape Supply Inc. | $16,822,023 | – | 100,514 | – | 0.42% | – |
| BIPC | New | Brookfield Infrastructure Corp | $16,388,061 | – | 359,545 | – | 0.41% | – |
| FND | New | Floor & Decor Holdings | $16,226,805 | – | 156,087 | – | 0.40% | – |
| DFH | New | Dream Finders Homes Inc. | $14,800,303 | – | 601,883 | – | 0.37% | – |
| PAG | New | Penske Automotive Group Inc. | $14,761,918 | – | 88,591 | – | 0.37% | – |
| CHE | New | Chemed Corp | $14,672,215 | – | 27,087 | – | 0.37% | – |
| FELE | New | Franklin Electric Co., Inc. | $14,652,960 | – | 142,400 | – | 0.37% | – |
| FSV | New | FirstService Corporation | $14,350,248 | – | 93,129 | – | 0.36% | – |
| NOMD | New | Nomad Foods Ltd | $13,820,459 | – | 788,839 | – | 0.34% | – |
| CASS | New | Cass Information Systems Inc. | $13,209,244 | – | 340,620 | – | 0.33% | – |
| OLLI | New | Ollie's Bargain Outlet Holding | $11,574,066 | – | 199,794 | – | 0.29% | – |
| HOMB | New | Home BancShares, Inc. | $11,496,011 | – | 504,211 | – | 0.29% | – |
| BOMN | New | Boston Omaha Corporation | $11,206,915 | – | 595,479 | – | 0.28% | – |
| DSGX | New | Descartes Systems Group Inc. | $10,782,165 | – | 134,592 | – | 0.27% | – |
| FTDR | New | Frontdoor, Inc. | $10,531,211 | – | 330,132 | – | 0.26% | – |
| BRKB | New | Berkshire Hathaway Inc. B | $10,030,515 | – | 29,415 | – | 0.25% | – |
| MKC | New | McCormick & Company | $9,884,467 | – | 113,315 | – | 0.25% | – |
| ROP | New | Roper Industries Inc. | $9,616,000 | – | 20,000 | – | 0.24% | – |
| CSV | New | Carriage Services Inc. | $8,764,757 | – | 269,934 | – | 0.22% | – |
| New | Hagerty, Inc. | $8,682,673 | – | 927,636 | – | 0.22% | – | |
| VRSK | New | Verisk Analytics Inc. | $3,265,455 | – | 14,447 | – | 0.08% | – |
| AAPL | New | Apple, Inc. | $3,217,962 | – | 16,590 | – | 0.08% | – |
| XOM | New | Exxon Mobil Corporation | $2,332,902 | – | 21,752 | – | 0.06% | – |
| USB | New | US Bancorp | $2,060,672 | – | 62,369 | – | 0.05% | – |
| VUG | New | Vanguard Growthetf | $1,862,160 | – | 6,581 | – | 0.05% | – |
| CNMD | New | Conmed Corp | $1,248,557 | – | 9,188 | – | 0.03% | – |
| MSFT | New | Microsoft Corp | $1,226,839 | – | 3,603 | – | 0.03% | – |
| PWB | New | Powershares Dynamic Large Capetf | $1,200,477 | – | 17,000 | – | 0.03% | – |
| ABBV | New | Abbvie, Inc. | $1,012,900 | – | 7,518 | – | 0.02% | – |
| MRK | New | Merck & Co Inc New | $814,653 | – | 7,060 | – | 0.02% | – |
| IBM | New | International Business Machine | $627,569 | – | 4,690 | – | 0.02% | – |
| SPY | New | Spdr S&P 500 ETF Trustetf | $654,725 | – | 1,477 | – | 0.02% | – |
| XLY | New | Select Sector Spdr Tr Sbi Consetf | $532,864 | – | 3,138 | – | 0.01% | – |
| IVV | New | iShares Core S&P 500 ETFetf | $534,852 | – | 1,200 | – | 0.01% | – |
| PG | New | Procter & Gamble Co | $483,899 | – | 3,189 | – | 0.01% | – |
| NBTB | New | NBT Bancorp Inc | $461,188 | – | 14,480 | – | 0.01% | – |
| ZTS | New | Zoetis Inc. | $385,750 | – | 2,240 | – | 0.01% | – |
| PFE | New | Pfizer Incorporated | $381,802 | – | 10,409 | – | 0.01% | – |
| AMGN | New | Amgen Incorporated | $347,239 | – | 1,564 | – | 0.01% | – |
| PEG | New | Pub Svc Ent Group Inc | $306,852 | – | 4,901 | – | 0.01% | – |
| UNP | New | Union Pacific Corp. | $325,141 | – | 1,589 | – | 0.01% | – |
| ETN | New | Eaton Corp PLC | $333,826 | – | 1,660 | – | 0.01% | – |
| MSCI | New | MSCI, Inc. | $268,434 | – | 572 | – | 0.01% | – |
| MCO | New | Moodys Corp | $273,656 | – | 787 | – | 0.01% | – |
| CMI | New | Cummins Inc | $299,586 | – | 1,222 | – | 0.01% | – |
| DHR | New | Danaher Corporation | $240,000 | – | 1,000 | – | 0.01% | – |
| DHIL | New | Diamond Hill Investment Group, | $228,857 | – | 1,336 | – | 0.01% | – |
| WFC | New | Wells Fargo & Co New | $256,080 | – | 6,000 | – | 0.01% | – |
| SJM | New | Smuckers, Jm | $225,640 | – | 1,528 | – | 0.01% | – |
| RTX | New | Raytheon Technologies Corp | $237,161 | – | 2,421 | – | 0.01% | – |
| New | Linde Plc | $228,648 | – | 600 | – | 0.01% | – | |
| AMAT | New | Applied Materials Inc | $202,356 | – | 1,400 | – | 0.01% | – |
| CVX | New | Chevron Corporation | $213,242 | – | 1,355 | – | 0.01% | – |
| XYL | New | Xylem, Inc. | $204,631 | – | 1,817 | – | 0.01% | – |
Q4 2022
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| DHIL | Exit | Diamond Hill Investment Group, | $0 | – | -1,336 | – | -0.01% | – |
| SJM | Exit | Smuckers, Jm | $0 | – | -1,528 | – | -0.01% | – |
| ETN | Exit | Eaton Corp PLC | $0 | – | -1,660 | – | -0.01% | – |
| DHR | Exit | Danaher Corp Del | $0 | – | -1,000 | – | -0.01% | – |
| MSCI | Exit | MSCI, Inc. | $0 | – | -572 | – | -0.01% | – |
| CMI | Exit | Cummins Inc | $0 | – | -1,222 | – | -0.01% | – |
| PEG | Exit | Pub Svc Ent Group Inc | $0 | – | -4,901 | – | -0.01% | – |
| UNP | Exit | Union Pacific Corp. | $0 | – | -1,589 | – | -0.01% | – |
| USB | Exit | US Bancorp | $0 | – | -7,332 | – | -0.01% | – |
| ZTS | Exit | Zoetis | $0 | – | -2,240 | – | -0.01% | – |
| AMGN | Exit | Amgen Incorporated | $0 | – | -1,564 | – | -0.01% | – |
| ITOT | Exit | iShares Core S&P Total US Stocetf | $0 | – | -4,500 | – | -0.01% | – |
| FANG | Exit | Diamond Back Energy Inc. | $0 | – | -3,182 | – | -0.01% | – |
| IVV | Exit | iShares Core S&P 500 ETFetf | $0 | – | -1,200 | – | -0.01% | – |
| PG | Exit | Procter & Gamble | $0 | – | -3,189 | – | -0.01% | – |
| PFE | Exit | Pfizer Incorporated | $0 | – | -10,409 | – | -0.01% | – |
| OSW | Exit | One Spa World Holdings Ltd. | $0 | – | -59,395 | – | -0.01% | – |
| SPY | Exit | Spdr S&P 500 ETF Trustetf | $0 | – | -1,477 | – | -0.02% | – |
| NBTB | Exit | NBT Bancorp Inc | $0 | – | -14,480 | – | -0.02% | – |
| IBM | Exit | International Business Machine | $0 | – | -4,865 | – | -0.02% | – |
| MRK | Exit | Merck & Co Inc New | $0 | – | -7,605 | – | -0.02% | – |
| CNMD | Exit | Conmed Corp | $0 | – | -9,188 | – | -0.02% | – |
| MSFT | Exit | Microsoft Corp | $0 | – | -3,261 | – | -0.02% | – |
| XLY | Exit | Select Sector Spdr Tr Sbi Consetf | $0 | – | -6,276 | – | -0.03% | – |
| PWB | Exit | Powershares Dynamic Large Capetf | $0 | – | -17,000 | – | -0.03% | – |
| ABBV | Exit | Abbvie, Inc. | $0 | – | -7,818 | – | -0.03% | – |
| VUG | Exit | Vanguard Growthetf | $0 | – | -6,581 | – | -0.04% | – |
| AAPL | Exit | Apple, Inc. | $0 | – | -16,156 | – | -0.06% | – |
| XOM | Exit | Exxon Mobil Corporation | $0 | – | -32,584 | – | -0.08% | – |
| Exit | Ryan Specialty Holdings, Inc | $0 | – | -87,321 | – | -0.10% | – | |
| BURL | Exit | Burlington Stores, Inc. | $0 | – | -50,248 | – | -0.16% | – |
| CLVT | Exit | Clarivate PLC | $0 | – | -630,759 | – | -0.17% | – |
| DFH | Exit | Dream Finders Homes Inc. | $0 | – | -599,400 | – | -0.18% | – |
| SITE | Exit | Siteone Landscape Supply Inc. | $0 | – | -68,026 | – | -0.20% | – |
| ROP | Exit | Roper Industries Inc. | $0 | – | -20,000 | – | -0.21% | – |
| Exit | Hagerty, Inc. | $0 | – | -799,268 | – | -0.21% | – | |
| MKC | Exit | McCormick & Company | $0 | – | -108,766 | – | -0.22% | – |
| FTDR | Exit | Frontdoor, Inc. | $0 | – | -401,400 | – | -0.24% | – |
| DSGX | Exit | Descartes Systems Group Inc. | $0 | – | -134,832 | – | -0.25% | – |
| PAG | Exit | Penske Automotive Group Inc. | $0 | – | -89,468 | – | -0.25% | – |
| PAYA | Exit | Paya Holdings | $0 | – | -1,482,347 | – | -0.26% | – |
| BRKB | Exit | Berkshire Hathaway Inc. B | $0 | – | -34,761 | – | -0.27% | – |
| CSV | Exit | Carriage Services Inc. | $0 | – | -306,724 | – | -0.28% | – |
| NOMD | Exit | Nomad Foods Ltd | $0 | – | -707,959 | – | -0.29% | – |
| FND | Exit | Floor & Decor Holdings | $0 | – | -147,597 | – | -0.30% | – |
| FSV | Exit | FirstService Corporation | $0 | – | -90,145 | – | -0.31% | – |
| CASS | Exit | Cass Information Systems Inc. | $0 | – | -322,469 | – | -0.32% | – |
| HOMB | Exit | Home BancShares, Inc. | $0 | – | -503,780 | – | -0.33% | – |
| SPSC | Exit | SPS Commerce Inc. | $0 | – | -92,638 | – | -0.33% | – |
| FELE | Exit | Franklin Electric Co., Inc. | $0 | – | -142,154 | – | -0.33% | – |
| CHE | Exit | Chemed Corp | $0 | – | -27,299 | – | -0.34% | – |
| WSO | Exit | Watsco, Inc. | $0 | – | -47,998 | – | -0.36% | – |
| BOMN | Exit | Boston Omaha Corporation | $0 | – | -545,461 | – | -0.36% | – |
| CWST | Exit | Casella Waste System Inc. | $0 | – | -168,442 | – | -0.37% | – |
| FHB | Exit | First Hawaiian Inc. | $0 | – | -526,353 | – | -0.37% | – |
| OLLI | Exit | Ollie's Bargain Outlet Holding | $0 | – | -262,780 | – | -0.39% | – |
| BIPC | Exit | Brookfield Infrastructure Corp | $0 | – | -359,274 | – | -0.42% | – |
| LSTR | Exit | Landstar System, Inc. | $0 | – | -101,739 | – | -0.42% | – |
| CIGI | Exit | Colliers International Group I | $0 | – | -169,294 | – | -0.45% | – |
| TRRSF | Exit | Trisura Group Ltd. | $0 | – | -641,027 | – | -0.45% | – |
| TWNK | Exit | Hostess Brands Inc. | $0 | – | -723,916 | – | -0.48% | – |
| CHH | Exit | Choice Hotels International, I | $0 | – | -153,776 | – | -0.48% | – |
| CTAS | Exit | Cintas Corp | $0 | – | -58,903 | – | -0.66% | – |
| CBZ | Exit | CBIZ, Inc. | $0 | – | -589,592 | – | -0.72% | – |
| EXLS | Exit | Exlservice Holdings Inc. | $0 | – | -187,533 | – | -0.79% | – |
| FBHS | Exit | Fortune Brands Home & Sec Inc | $0 | – | -558,387 | – | -0.86% | – |
| POOL | Exit | Pool Corp | $0 | – | -94,667 | – | -0.87% | – |
| TROW | Exit | T Rowe Price Group, Inc. | $0 | – | -292,688 | – | -0.88% | – |
| THG | Exit | The Hanover Group | $0 | – | -242,248 | – | -0.89% | – |
| STE | Exit | Steris PLC | $0 | – | -189,895 | – | -0.91% | – |
| BKNG | Exit | Booking Holdings Inc. | $0 | – | -20,529 | – | -0.97% | – |
| ENTG | Exit | Entegris, Inc. | $0 | – | -423,760 | – | -1.01% | – |
| JKHY | Exit | Jack Henry & Associates Inc | $0 | – | -203,437 | – | -1.07% | – |
| PAYX | Exit | Paychex Inc | $0 | – | -331,016 | – | -1.07% | – |
| HEIA | Exit | HEICO Corp. Class A | $0 | – | -335,320 | – | -1.10% | – |
| G | Exit | Genpact | $0 | – | -927,868 | – | -1.17% | – |
| RSG | Exit | Republic Services, Inc. | $0 | – | -299,036 | – | -1.17% | – |
| BR | Exit | Broadridge Financial Solutions | $0 | – | -293,292 | – | -1.22% | – |
| SSB | Exit | SouthState Corporation | $0 | – | -612,348 | – | -1.39% | – |
| BRKA | Exit | Berkshire Hathaway Inc. A | $0 | – | -120 | – | -1.40% | – |
| PGR | Exit | Progressive Corp. | $0 | – | -420,605 | – | -1.40% | – |
| MTB | Exit | M&T Bank Corporation | $0 | – | -286,831 | – | -1.45% | – |
| FIS | Exit | Fidelity National Info Service | $0 | – | -693,224 | – | -1.51% | – |
| PNFP | Exit | Pinnacle Financial Partners, I | $0 | – | -665,269 | – | -1.55% | – |
| KMX | Exit | CarMax, Inc. | $0 | – | -874,404 | – | -1.66% | – |
| DG | Exit | Dollar General Corporation | $0 | – | -251,933 | – | -1.74% | – |
| ADI | Exit | Analog Devices Inc | $0 | – | -446,146 | – | -1.79% | – |
| ZBRA | Exit | Zebra Technologies A | $0 | – | -237,522 | – | -1.79% | – |
| APH | Exit | Amphenol Corp. | $0 | – | -932,487 | – | -1.80% | – |
| EOG | Exit | EOG Resources, Inc. | $0 | – | -559,836 | – | -1.80% | – |
| GGG | Exit | Graco Inc. | $0 | – | -1,064,931 | – | -1.84% | – |
| BKI | Exit | Black Knight | $0 | – | -1,085,535 | – | -2.02% | – |
| ITW | Exit | Illinois Tool Works Inc. | $0 | – | -389,527 | – | -2.02% | – |
| TT | Exit | Trane Technologies PLC | $0 | – | -546,189 | – | -2.27% | – |
| MCHP | Exit | Microchip Technology Incorpora | $0 | – | -1,306,612 | – | -2.29% | – |
| FAST | Exit | Fastenal Co | $0 | – | -1,758,135 | – | -2.33% | – |
| AJG | Exit | Arthur J. Gallagher & Co. | $0 | – | -494,949 | – | -2.44% | – |
| AZO | Exit | AutoZone, Inc. | $0 | – | -41,791 | – | -2.57% | – |
| AVY | Exit | Avery Dennison Corp | $0 | – | -571,530 | – | -2.67% | – |
| MKL | Exit | Markel Corporation | $0 | – | -90,250 | – | -2.81% | – |
| VMC | Exit | Vulcan Materials | $0 | – | -675,116 | – | -3.06% | – |
| SYK | Exit | Stryker Corporation | $0 | – | -534,091 | – | -3.11% | – |
| APD | Exit | Air Products & Chemicals, Inc. | $0 | – | -477,393 | – | -3.19% | – |
| BAM | Exit | Brookfield Asset Management In | $0 | – | -2,865,709 | – | -3.37% | – |
| ROST | Exit | Ross Stores, Inc. | $0 | – | -1,692,292 | – | -4.10% | – |
| IEX | Exit | IDEX Corporation | $0 | – | -751,670 | – | -4.32% | – |
| BRO | Exit | Brown & Brown, Inc. | $0 | – | -2,603,815 | – | -4.53% | – |
| CDW | Exit | CDW Corporation | $0 | – | -1,292,046 | – | -5.80% | – |
Q3 2022
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CDW | Sell | CDW Corporation | $201,663,000 | -1.3% | 1,292,046 | -0.4% | 5.80% | +0.5% |
| BRO | Sell | Brown & Brown, Inc. | $157,479,000 | +3.6% | 2,603,815 | -0.1% | 4.53% | +5.5% |
| IEX | Sell | IDEX Corporation | $150,221,000 | +9.8% | 751,670 | -0.2% | 4.32% | +11.8% |
| ROST | Buy | Ross Stores, Inc. | $142,609,000 | +20.3% | 1,692,292 | +0.3% | 4.10% | +22.5% |
| BAM | Sell | Brookfield Asset Management In | $117,179,000 | -12.1% | 2,865,709 | -4.4% | 3.37% | -10.5% |
| APD | Sell | Air Products & Chemicals, Inc. | $111,104,000 | -3.3% | 477,393 | -0.1% | 3.19% | -1.5% |
| SYK | Sell | Stryker Corporation | $108,175,000 | -2.3% | 534,091 | -4.1% | 3.11% | -0.6% |
| VMC | Sell | Vulcan Materials | $106,473,000 | +9.5% | 675,116 | -1.4% | 3.06% | +11.5% |
| MKL | Buy | Markel Corporation | $97,851,000 | -16.0% | 90,250 | +0.2% | 2.81% | -14.5% |
| AVY | Sell | Avery Dennison Corp | $92,988,000 | +0.4% | 571,530 | -0.1% | 2.67% | +2.3% |
| AZO | Sell | AutoZone, Inc. | $89,513,000 | -4.6% | 41,791 | -4.3% | 2.57% | -2.8% |
| AJG | Sell | Arthur J. Gallagher & Co. | $84,745,000 | -1.2% | 494,949 | -5.9% | 2.44% | +0.7% |
| FAST | Buy | Fastenal Co | $80,945,000 | -7.2% | 1,758,135 | +0.6% | 2.33% | -5.6% |
| MCHP | Buy | Microchip Technology Incorpora | $79,743,000 | +5.2% | 1,306,612 | +0.1% | 2.29% | +7.1% |
| TT | Sell | Trane Technologies PLC | $79,094,000 | +11.2% | 546,189 | -0.3% | 2.27% | +13.2% |
| ITW | Sell | Illinois Tool Works Inc. | $70,368,000 | -4.6% | 389,527 | -3.7% | 2.02% | -2.8% |
| BKI | Sell | Black Knight | $70,267,000 | -1.2% | 1,085,535 | -0.2% | 2.02% | +0.6% |
| GGG | Sell | Graco Inc. | $63,843,000 | -2.9% | 1,064,931 | -3.7% | 1.84% | -1.1% |
| EOG | Sell | EOG Resources, Inc. | $62,550,000 | +0.8% | 559,836 | -0.3% | 1.80% | +2.7% |
| APH | Buy | Amphenol Corp. | $62,439,000 | +32.3% | 932,487 | +27.2% | 1.80% | +34.8% |
| ZBRA | Buy | Zebra Technologies A | $62,233,000 | -10.7% | 237,522 | +0.2% | 1.79% | -9.0% |
| ADI | Buy | Analog Devices Inc | $62,166,000 | +1.8% | 446,146 | +6.8% | 1.79% | +3.7% |
| DG | Buy | Dollar General Corporation | $60,429,000 | -2.2% | 251,933 | +0.1% | 1.74% | -0.4% |
| KMX | Buy | CarMax, Inc. | $57,728,000 | -26.6% | 874,404 | +0.6% | 1.66% | -25.2% |
| PNFP | Buy | Pinnacle Financial Partners, I | $53,953,000 | +12.5% | 665,269 | +0.3% | 1.55% | +14.5% |
| FIS | Buy | Fidelity National Info Service | $52,387,000 | -14.4% | 693,224 | +3.8% | 1.51% | -12.8% |
| MTB | Sell | M&T Bank Corporation | $50,574,000 | +3.9% | 286,831 | -6.1% | 1.45% | +5.7% |
| PGR | Sell | Progressive Corp. | $48,879,000 | -0.2% | 420,605 | -0.2% | 1.40% | +1.6% |
| BRKA | Sell | Berkshire Hathaway Inc. A | $48,776,000 | -2.2% | 120 | -1.6% | 1.40% | -0.4% |
| SSB | Buy | SouthState Corporation | $48,449,000 | +2.6% | 612,348 | +0.0% | 1.39% | +4.4% |
| BR | Sell | Broadridge Financial Solutions | $42,328,000 | +1.1% | 293,292 | -0.1% | 1.22% | +3.0% |
| RSG | Sell | Republic Services, Inc. | $40,681,000 | +3.3% | 299,036 | -0.6% | 1.17% | +5.1% |
| G | Sell | Genpact | $40,613,000 | -6.2% | 927,868 | -9.2% | 1.17% | -4.5% |
| HEIA | Buy | HEICO Corp. Class A | $38,434,000 | +9.8% | 335,320 | +1.0% | 1.10% | +11.8% |
| PAYX | Sell | Paychex Inc | $37,143,000 | -1.8% | 331,016 | -0.4% | 1.07% | 0.0% |
| JKHY | Sell | Jack Henry & Associates Inc | $37,080,000 | -9.5% | 203,437 | -10.6% | 1.07% | -7.8% |
| ENTG | Buy | Entegris, Inc. | $35,181,000 | -6.3% | 423,760 | +3.9% | 1.01% | -4.6% |
| BKNG | Buy | Booking Holdings Inc. | $33,733,000 | -5.7% | 20,529 | +0.4% | 0.97% | -4.0% |
| STE | Buy | Steris PLC | $31,576,000 | -18.2% | 189,895 | +1.4% | 0.91% | -16.6% |
| THG | Buy | The Hanover Group | $31,042,000 | -11.6% | 242,248 | +0.9% | 0.89% | -10.0% |
| TROW | Sell | T Rowe Price Group, Inc. | $30,735,000 | -8.4% | 292,688 | -0.9% | 0.88% | -6.8% |
| POOL | Sell | Pool Corp | $30,124,000 | -9.6% | 94,667 | -0.2% | 0.87% | -8.0% |
| FBHS | Buy | Fortune Brands Home & Sec Inc | $29,980,000 | -8.7% | 558,387 | +1.9% | 0.86% | -6.9% |
| EXLS | Buy | Exlservice Holdings Inc. | $27,635,000 | +0.5% | 187,533 | +0.5% | 0.79% | +2.3% |
| CBZ | Buy | CBIZ, Inc. | $25,223,000 | +7.8% | 589,592 | +0.7% | 0.72% | +9.7% |
| CTAS | Buy | Cintas Corp | $22,866,000 | +4.1% | 58,903 | +0.2% | 0.66% | +6.0% |
| CHH | Buy | Choice Hotels International, I | $16,842,000 | -1.7% | 153,776 | +0.2% | 0.48% | 0.0% |
| TWNK | Buy | Hostess Brands Inc. | $16,824,000 | +10.6% | 723,916 | +0.9% | 0.48% | +12.8% |
| CIGI | Buy | Colliers International Group I | $15,517,000 | -15.5% | 169,294 | +1.2% | 0.45% | -13.9% |
| TRRSF | Buy | Trisura Group Ltd. | $15,532,000 | +12.9% | 641,027 | +20.0% | 0.45% | +14.9% |
| LSTR | Buy | Landstar System, Inc. | $14,688,000 | +0.5% | 101,739 | +1.2% | 0.42% | +2.2% |
| BIPC | Buy | Brookfield Infrastructure Corp | $14,622,000 | -2.5% | 359,274 | +1.9% | 0.42% | -0.7% |
| OLLI | Buy | Ollie's Bargain Outlet Holding | $13,559,000 | -11.0% | 262,780 | +1.4% | 0.39% | -9.3% |
| FHB | Sell | First Hawaiian Inc. | $12,964,000 | -16.5% | 526,353 | -23.0% | 0.37% | -14.8% |
| BOMN | Buy | Boston Omaha Corporation | $12,567,000 | +13.3% | 545,461 | +1.6% | 0.36% | +15.3% |
| WSO | Buy | Watsco, Inc. | $12,358,000 | +8.2% | 47,998 | +0.4% | 0.36% | +10.2% |
| CHE | Buy | Chemed Corp | $11,918,000 | -6.7% | 27,299 | +0.3% | 0.34% | -5.0% |
| FELE | Buy | Franklin Electric Co., Inc. | $11,615,000 | +13.3% | 142,154 | +1.6% | 0.33% | +15.6% |
| SPSC | Buy | SPS Commerce Inc. | $11,508,000 | +11.3% | 92,638 | +1.2% | 0.33% | +13.4% |
| HOMB | Buy | Home BancShares, Inc. | $11,340,000 | +9.6% | 503,780 | +1.1% | 0.33% | +11.6% |
| CASS | Buy | Cass Information Systems Inc. | $11,186,000 | +6.1% | 322,469 | +3.4% | 0.32% | +7.7% |
| FSV | Buy | FirstService Corporation | $10,728,000 | +0.4% | 90,145 | +2.3% | 0.31% | +2.3% |
| FND | Buy | Floor & Decor Holdings | $10,370,000 | +11.9% | 147,597 | +0.3% | 0.30% | +13.7% |
| NOMD | Buy | Nomad Foods Ltd | $10,053,000 | -10.1% | 707,959 | +26.5% | 0.29% | -8.5% |
| CSV | Buy | Carriage Services Inc. | $9,864,000 | -17.1% | 306,724 | +2.2% | 0.28% | -15.8% |
| BRKB | Sell | Berkshire Hathaway Inc. B | $9,282,000 | -7.5% | 34,761 | -5.4% | 0.27% | -5.7% |
| PAYA | Buy | Paya Holdings | $9,057,000 | -5.3% | 1,482,347 | +1.8% | 0.26% | -3.7% |
| PAG | Buy | Penske Automotive Group Inc. | $8,806,000 | -5.9% | 89,468 | +0.1% | 0.25% | -4.2% |
| DSGX | Buy | Descartes Systems Group Inc. | $8,566,000 | +3.9% | 134,832 | +1.5% | 0.25% | +5.6% |
| FTDR | Buy | Frontdoor, Inc. | $8,185,000 | -13.4% | 401,400 | +2.3% | 0.24% | -12.0% |
| MKC | Buy | McCormick & Company | $7,752,000 | -14.2% | 108,766 | +0.2% | 0.22% | -12.5% |
| Buy | Hagerty, Inc. | $7,185,000 | -20.4% | 799,268 | +1.7% | 0.21% | -18.8% | |
| ROP | Sell | Roper Industries Inc. | $7,193,000 | -34.9% | 20,000 | -28.6% | 0.21% | -33.7% |
| SITE | New | Siteone Landscape Supply Inc. | $7,084,000 | – | 68,026 | – | 0.20% | – |
| DFH | Buy | Dream Finders Homes Inc. | $6,354,000 | +1.9% | 599,400 | +2.3% | 0.18% | +4.0% |
| CLVT | Sell | Clarivate PLC | $5,923,000 | -66.3% | 630,759 | -50.3% | 0.17% | -65.7% |
| BURL | Buy | Burlington Stores, Inc. | $5,622,000 | -17.6% | 50,248 | +0.3% | 0.16% | -16.1% |
| Sell | Ryan Specialty Holdings, Inc | $3,547,000 | -66.6% | 87,321 | -67.7% | 0.10% | -65.9% | |
| XOM | Sell | Exxon Mobil Corporation | $2,845,000 | +1.6% | 32,584 | -0.3% | 0.08% | +3.8% |
| AAPL | Sell | Apple, Inc. | $2,233,000 | +0.4% | 16,156 | -0.6% | 0.06% | +1.6% |
| CNMD | Sell | Conmed Corp | $737,000 | -19.7% | 9,188 | -4.2% | 0.02% | -19.2% |
| OSW | Sell | One Spa World Holdings Ltd. | $499,000 | -79.2% | 59,395 | -82.3% | 0.01% | -79.4% |
| SJM | New | Smuckers, Jm | $210,000 | – | 1,528 | – | 0.01% | – |
| MCO | Exit | Moodys Corp | $0 | – | -787 | – | -0.01% | – |
| SIVB | Exit | SVB Financial Group | $0 | – | -517 | – | -0.01% | – |
| RTX | Exit | Raytheon Technologies Corp | $0 | – | -2,421 | – | -0.01% | – |
| USPH | Exit | U.S. Physical Therapy Inc. | $0 | – | -29,581 | – | -0.09% | – |
Q2 2022
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CDW | New | CDW Corporation | $204,356,000 | – | 1,297,003 | – | 5.77% | – |
| BRO | New | Brown & Brown, Inc. | $152,049,000 | – | 2,606,252 | – | 4.29% | – |
| IEX | New | IDEX Corporation | $136,756,000 | – | 752,938 | – | 3.86% | – |
| BAM | New | Brookfield Asset Management In | $133,332,000 | – | 2,998,245 | – | 3.76% | – |
| ROST | New | Ross Stores, Inc. | $118,507,000 | – | 1,687,407 | – | 3.34% | – |
| MKL | New | Markel Corporation | $116,539,000 | – | 90,113 | – | 3.29% | – |
| APD | New | Air Products & Chemicals, Inc. | $114,878,000 | – | 477,705 | – | 3.24% | – |
| SYK | New | Stryker Corporation | $110,767,000 | – | 556,816 | – | 3.13% | – |
| VMC | New | Vulcan Materials | $97,261,000 | – | 684,455 | – | 2.74% | – |
| AZO | New | AutoZone, Inc. | $93,807,000 | – | 43,649 | – | 2.65% | – |
| AVY | New | Avery Dennison Corp | $92,572,000 | – | 571,888 | – | 2.61% | – |
| FAST | New | Fastenal Co | $87,257,000 | – | 1,747,946 | – | 2.46% | – |
| AJG | New | Arthur J. Gallagher & Co. | $85,743,000 | – | 525,899 | – | 2.42% | – |
| KMX | New | CarMax, Inc. | $78,608,000 | – | 868,794 | – | 2.22% | – |
| MCHP | New | Microchip Technology Incorpora | $75,806,000 | – | 1,305,201 | – | 2.14% | – |
| ITW | New | Illinois Tool Works Inc. | $73,730,000 | – | 404,552 | – | 2.08% | – |
| TT | New | Trane Technologies PLC | $71,131,000 | – | 547,708 | – | 2.01% | – |
| BKI | New | Black Knight | $71,151,000 | – | 1,088,095 | – | 2.01% | – |
| ZBRA | New | Zebra Technologies A | $69,653,000 | – | 236,956 | – | 1.97% | – |
| GGG | New | Graco Inc. | $65,730,000 | – | 1,106,386 | – | 1.86% | – |
| EOG | New | EOG Resources, Inc. | $62,045,000 | – | 561,802 | – | 1.75% | – |
| DG | New | Dollar General Corporation | $61,769,000 | – | 251,668 | – | 1.74% | – |
| FIS | New | Fidelity National Info Service | $61,213,000 | – | 667,755 | – | 1.73% | – |
| ADI | New | Analog Devices Inc | $61,050,000 | – | 417,892 | – | 1.72% | – |
| BRKA | New | Berkshire Hathaway Inc. A | $49,892,000 | – | 122 | – | 1.41% | – |
| PGR | New | Progressive Corp. | $48,983,000 | – | 421,283 | – | 1.38% | – |
| MTB | New | M&T Bank Corporation | $48,696,000 | – | 305,514 | – | 1.38% | – |
| PNFP | New | Pinnacle Financial Partners, I | $47,975,000 | – | 663,469 | – | 1.35% | – |
| SSB | New | SouthState Corporation | $47,221,000 | – | 612,073 | – | 1.33% | – |
| APH | New | Amphenol Corp. | $47,202,000 | – | 733,173 | – | 1.33% | – |
| G | New | Genpact | $43,275,000 | – | 1,021,605 | – | 1.22% | – |
| BR | New | Broadridge Financial Solutions | $41,849,000 | – | 293,573 | – | 1.18% | – |
| JKHY | New | Jack Henry & Associates Inc | $40,969,000 | – | 227,582 | – | 1.16% | – |
| RSG | New | Republic Services, Inc. | $39,388,000 | – | 300,971 | – | 1.11% | – |
| STE | New | Steris PLC | $38,592,000 | – | 187,204 | – | 1.09% | – |
| PAYX | New | Paychex Inc | $37,837,000 | – | 332,286 | – | 1.07% | – |
| ENTG | New | Entegris, Inc. | $37,564,000 | – | 407,731 | – | 1.06% | – |
| BKNG | New | Booking Holdings Inc. | $35,765,000 | – | 20,449 | – | 1.01% | – |
| THG | New | The Hanover Group | $35,099,000 | – | 239,991 | – | 0.99% | – |
| HEIA | New | HEICO Corp. Class A | $34,992,000 | – | 332,056 | – | 0.99% | – |
| TROW | New | T Rowe Price Group, Inc. | $33,544,000 | – | 295,258 | – | 0.95% | – |
| POOL | New | Pool Corp | $33,330,000 | – | 94,896 | – | 0.94% | – |
| FBHS | New | Fortune Brands Home & Sec Inc | $32,821,000 | – | 548,109 | – | 0.93% | – |
| EXLS | New | Exlservice Holdings Inc. | $27,484,000 | – | 186,548 | – | 0.78% | – |
| CBZ | New | CBIZ, Inc. | $23,402,000 | – | 585,647 | – | 0.66% | – |
| CTAS | New | Cintas Corp | $21,967,000 | – | 58,808 | – | 0.62% | – |
| CIGI | New | Colliers International Group I | $18,358,000 | – | 167,329 | – | 0.52% | – |
| CLVT | New | Clarivate PLC | $17,577,000 | – | 1,268,168 | – | 0.50% | – |
| CHH | New | Choice Hotels International, I | $17,139,000 | – | 153,531 | – | 0.48% | – |
| FHB | New | First Hawaiian Inc. | $15,529,000 | – | 683,788 | – | 0.44% | – |
| OLLI | New | Ollie's Bargain Outlet Holding | $15,229,000 | – | 259,220 | – | 0.43% | – |
| TWNK | New | Hostess Brands Inc. | $15,214,000 | – | 717,286 | – | 0.43% | – |
| BIPC | New | Brookfield Infrastructure Corp | $14,991,000 | – | 352,737 | – | 0.42% | – |
| LSTR | New | Landstar System, Inc. | $14,621,000 | – | 100,544 | – | 0.41% | – |
| TRRSF | New | Trisura Group Ltd. | $13,758,000 | – | 534,100 | – | 0.39% | – |
| CHE | New | Chemed Corp | $12,774,000 | – | 27,214 | – | 0.36% | – |
| CWST | New | Casella Waste System Inc. | $12,242,000 | – | 168,442 | – | 0.35% | – |
| CSV | New | Carriage Services Inc. | $11,905,000 | – | 300,264 | – | 0.34% | – |
| WSO | New | Watsco, Inc. | $11,419,000 | – | 47,815 | – | 0.32% | – |
| NOMD | New | Nomad Foods Ltd | $11,188,000 | – | 559,660 | – | 0.32% | – |
| BOMN | New | Boston Omaha Corporation | $11,088,000 | – | 536,936 | – | 0.31% | – |
| ROP | New | Roper Industries Inc. | $11,050,000 | – | 28,000 | – | 0.31% | – |
| FSV | New | FirstService Corporation | $10,680,000 | – | 88,115 | – | 0.30% | – |
| New | Ryan Specialty Holdings, Inc | $10,607,000 | – | 270,666 | – | 0.30% | – | |
| CASS | New | Cass Information Systems Inc. | $10,545,000 | – | 311,975 | – | 0.30% | – |
| HOMB | New | Home BancShares, Inc. | $10,349,000 | – | 498,250 | – | 0.29% | – |
| SPSC | New | SPS Commerce Inc. | $10,344,000 | – | 91,498 | – | 0.29% | – |
| FELE | New | Franklin Electric Co., Inc. | $10,252,000 | – | 139,934 | – | 0.29% | – |
| BRKB | New | Berkshire Hathaway Inc. B | $10,030,000 | – | 36,739 | – | 0.28% | – |
| PAYA | New | Paya Holdings | $9,567,000 | – | 1,456,232 | – | 0.27% | – |
| FTDR | New | Frontdoor, Inc. | $9,447,000 | – | 392,300 | – | 0.27% | – |
| PAG | New | Penske Automotive Group Inc. | $9,361,000 | – | 89,418 | – | 0.26% | – |
| FND | New | Floor & Decor Holdings | $9,265,000 | – | 147,162 | – | 0.26% | – |
| MKC | New | McCormick & Company | $9,040,000 | – | 108,593 | – | 0.26% | – |
| New | Hagerty, Inc. | $9,029,000 | – | 785,843 | – | 0.26% | – | |
| DSGX | New | Descartes Systems Group Inc. | $8,248,000 | – | 132,897 | – | 0.23% | – |
| BURL | New | Burlington Stores, Inc. | $6,822,000 | – | 50,077 | – | 0.19% | – |
| DFH | New | Dream Finders Homes Inc. | $6,233,000 | – | 585,845 | – | 0.18% | – |
| USPH | New | U.S. Physical Therapy Inc. | $3,230,000 | – | 29,581 | – | 0.09% | – |
| XOM | New | Exxon Mobil Corporation | $2,799,000 | – | 32,689 | – | 0.08% | – |
| OSW | New | One Spa World Holdings Ltd. | $2,401,000 | – | 334,818 | – | 0.07% | – |
| AAPL | New | Apple, Inc. | $2,223,000 | – | 16,256 | – | 0.06% | – |
| VUG | New | Vanguard Growthetf | $1,467,000 | – | 6,581 | – | 0.04% | – |
| ABBV | New | Abbvie, Inc. | $1,197,000 | – | 7,818 | – | 0.03% | – |
| PWB | New | Powershares Dynamic Large Capetf | $997,000 | – | 17,000 | – | 0.03% | – |
| CNMD | New | Conmed Corp | $918,000 | – | 9,588 | – | 0.03% | – |
| MSFT | New | Microsoft Corp | $838,000 | – | 3,261 | – | 0.02% | – |
| XLY | New | Select Sector Spdr Tr Sbi Consetf | $863,000 | – | 6,276 | – | 0.02% | – |
| MRK | New | Merck & Co Inc New | $693,000 | – | 7,605 | – | 0.02% | – |
| IBM | New | International Business Machine | $687,000 | – | 4,865 | – | 0.02% | – |
| SPY | New | Spdr S&P 500 ETF Trustetf | $557,000 | – | 1,477 | – | 0.02% | – |
| PFE | New | Pfizer Incorporated | $546,000 | – | 10,409 | – | 0.02% | – |
| NBTB | New | NBT Bancorp Inc | $544,000 | – | 14,480 | – | 0.02% | – |
| PG | New | Procter & Gamble | $459,000 | – | 3,189 | – | 0.01% | – |
| IVV | New | iShares Core S&P 500 ETFetf | $455,000 | – | 1,200 | – | 0.01% | – |
| ITOT | New | iShares Core S&P Total US Stocetf | $377,000 | – | 4,500 | – | 0.01% | – |
| FANG | New | Diamond Back Energy Inc. | $385,000 | – | 3,182 | – | 0.01% | – |
| AMGN | New | Amgen Incorporated | $381,000 | – | 1,564 | – | 0.01% | – |
| ZTS | New | Zoetis | $385,000 | – | 2,240 | – | 0.01% | – |
| UNP | New | Union Pacific Corp. | $339,000 | – | 1,589 | – | 0.01% | – |
| USB | New | US Bancorp | $337,000 | – | 7,332 | – | 0.01% | – |
| PEG | New | Pub Svc Ent Group Inc | $310,000 | – | 4,901 | – | 0.01% | – |
| MSCI | New | MSCI, Inc. | $236,000 | – | 572 | – | 0.01% | – |
| RTX | New | Raytheon Technologies Corp | $233,000 | – | 2,421 | – | 0.01% | – |
| DHR | New | Danaher Corp Del | $254,000 | – | 1,000 | – | 0.01% | – |
| CMI | New | Cummins Inc | $236,000 | – | 1,222 | – | 0.01% | – |
| DHIL | New | Diamond Hill Investment Group, | $232,000 | – | 1,336 | – | 0.01% | – |
| MCO | New | Moodys Corp | $214,000 | – | 787 | – | 0.01% | – |
| ETN | New | Eaton Corp PLC | $209,000 | – | 1,660 | – | 0.01% | – |
| SIVB | New | SVB Financial Group | $204,000 | – | 517 | – | 0.01% | – |
Q4 2021
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| LQD | Exit | Ishares Iboxx Investop Iboxx $etf | $0 | – | -1,543 | – | -0.01% | – |
| Exit | Bank Of Richmondville | $0 | – | -1,000 | – | -0.01% | – | |
| RTX | Exit | Raytheon Technologies Corp | $0 | – | -2,421 | – | -0.01% | – |
| DIS | Exit | Walt Disney Co. | $0 | – | -1,513 | – | -0.01% | – |
| DHIL | Exit | Diamond Hill Investment Group, | $0 | – | -1,336 | – | -0.01% | – |
| ETN | Exit | Eaton Corp PLC | $0 | – | -1,600 | – | -0.01% | – |
| XYL | Exit | Xylem, Inc. | $0 | – | -1,817 | – | -0.01% | – |
| CMI | Exit | Cummins Inc | $0 | – | -1,200 | – | -0.01% | – |
| FANG | Exit | Diamond Back Energy Inc. | $0 | – | -3,182 | – | -0.01% | – |
| DHR | Exit | Danaher Corp Del | $0 | – | -1,000 | – | -0.01% | – |
| UNP | Exit | Union Pacific Corp. | $0 | – | -1,554 | – | -0.01% | – |
| PEG | Exit | Pub Svc Ent Group Inc | $0 | – | -4,901 | – | -0.01% | – |
| AMGN | Exit | Amgen Incorporated | $0 | – | -1,564 | – | -0.01% | – |
| CVS | Exit | CVS Caremark Corp | $0 | – | -4,322 | – | -0.01% | – |
| ITOT | Exit | iShares Core S&P Total US Stocetf | $0 | – | -4,500 | – | -0.01% | – |
| USB | Exit | US Bancorp | $0 | – | -7,332 | – | -0.01% | – |
| PFE | Exit | Pfizer Incorporated | $0 | – | -10,659 | – | -0.01% | – |
| HBAN | Exit | Huntington Bancshares | $0 | – | -32,056 | – | -0.01% | – |
| IVV | Exit | iShares Core S&P 500 ETFetf | $0 | – | -1,200 | – | -0.01% | – |
| PG | Exit | Procter & Gamble | $0 | – | -3,710 | – | -0.01% | – |
| NBTB | Exit | NBT Bancorp Inc | $0 | – | -14,780 | – | -0.01% | – |
| BHDB | Exit | Bank of Labor Bancshares Inc | $0 | – | -17,032 | – | -0.01% | – |
| MRK | Exit | Merck & Co Inc New | $0 | – | -7,648 | – | -0.01% | – |
| SPY | Exit | Spdr S&P 500 ETF Trustetf | $0 | – | -1,477 | – | -0.02% | – |
| IBM | Exit | International Business Machine | $0 | – | -5,033 | – | -0.02% | – |
| ABBV | Exit | Abbvie, Inc. | $0 | – | -7,875 | – | -0.02% | – |
| CNMD | Exit | Conmed Corp | $0 | – | -7,088 | – | -0.02% | – |
| MSFT | Exit | Microsoft Corp | $0 | – | -3,261 | – | -0.02% | – |
| XLY | Exit | Select Sector Spdr Tr Sbi Consetf | $0 | – | -6,576 | – | -0.03% | – |
| PWB | Exit | Powershares Dynamic Large Capetf | $0 | – | -17,000 | – | -0.03% | – |
| VUG | Exit | Vanguard Growthetf | $0 | – | -6,581 | – | -0.05% | – |
| XOM | Exit | Exxon Mobil Corporation | $0 | – | -35,689 | – | -0.05% | – |
| AAPL | Exit | Apple, Inc. | $0 | – | -16,263 | – | -0.06% | – |
| FND | Exit | Floor & Decor Holdings | $0 | – | -25,821 | – | -0.08% | – |
| WTM | Exit | White Mountains Insurance Grou | $0 | – | -5,768 | – | -0.15% | – |
| OSW | Exit | One Spa World Holdings Ltd. | $0 | – | -754,783 | – | -0.18% | – |
| HCSG | Exit | Healthcare Services Group, Inc | $0 | – | -303,022 | – | -0.19% | – |
| DFH | Exit | Dream Finders Homes Inc. | $0 | – | -478,810 | – | -0.20% | – |
| MKC | Exit | McCormick & Company | $0 | – | -103,337 | – | -0.21% | – |
| Exit | Ryan Specialty Group Holdings | $0 | – | -266,288 | – | -0.22% | – | |
| NVR | Exit | NVR Inc. | $0 | – | -1,890 | – | -0.22% | – |
| CATC | Exit | Cambridge Bancorp | $0 | – | -104,636 | – | -0.23% | – |
| OLLI | Exit | Ollie's Bargain Outlet Holding | $0 | – | -159,880 | – | -0.24% | – |
| DSGX | Exit | Descartes Systems Group Inc. | $0 | – | -125,717 | – | -0.25% | – |
| FELE | Exit | Franklin Electric Co., Inc. | $0 | – | -136,454 | – | -0.27% | – |
| USPH | Exit | U.S. Physical Therapy Inc. | $0 | – | -105,006 | – | -0.28% | – |
| MNRO | Exit | Monro Inc. | $0 | – | -214,767 | – | -0.30% | – |
| ROP | Exit | Roper Industries Inc. | $0 | – | -28,000 | – | -0.31% | – |
| CSV | Exit | Carriage Services Inc. | $0 | – | -281,314 | – | -0.31% | – |
| CWST | Exit | Casella Waste System Inc. | $0 | – | -168,442 | – | -0.31% | – |
| CASS | Exit | Cass Information Systems Inc. | $0 | – | -305,860 | – | -0.32% | – |
| TWNK | Exit | Hostess Brands Inc. | $0 | – | -750,306 | – | -0.32% | – |
| NOMD | Exit | Nomad Foods Ltd | $0 | – | -477,985 | – | -0.32% | – |
| PAG | Exit | Penske Automotive Group Inc. | $0 | – | -136,120 | – | -0.34% | – |
| FTDR | Exit | Frontdoor, Inc. | $0 | – | -351,830 | – | -0.36% | – |
| PAYA | Exit | Paya Holdings | $0 | – | -1,368,222 | – | -0.37% | – |
| BIPC | Exit | Brookfield Infrastructure Corp | $0 | – | -249,280 | – | -0.37% | – |
| BOMN | Exit | Boston Omaha Corporation | $0 | – | -416,625 | – | -0.40% | – |
| SPSC | Exit | SPS Commerce Inc. | $0 | – | -100,303 | – | -0.40% | – |
| BRKB | Exit | Berkshire Hathaway Inc. B | $0 | – | -64,192 | – | -0.43% | – |
| TRRSF | Exit | Trisura Group Ltd. | $0 | – | -525,656 | – | -0.44% | – |
| HOMB | Exit | Home BancShares, Inc. | $0 | – | -782,268 | – | -0.45% | – |
| APH | Exit | Amphenol Corp. | $0 | – | -255,115 | – | -0.46% | – |
| CBZ | Exit | CBIZ, Inc. | $0 | – | -590,917 | – | -0.47% | – |
| CHH | Exit | Choice Hotels International, I | $0 | – | -168,539 | – | -0.52% | – |
| CTAS | Exit | Cintas Corp | $0 | – | -56,887 | – | -0.53% | – |
| CIGI | Exit | Colliers International Group I | $0 | – | -173,802 | – | -0.55% | – |
| FHB | Exit | First Hawaiian Inc. | $0 | – | -820,490 | – | -0.59% | – |
| DLR | Exit | Digital Realty Trust, Inc. | $0 | – | -176,474 | – | -0.63% | – |
| EXLS | Exit | Exlservice Holdings Inc. | $0 | – | -218,628 | – | -0.66% | – |
| THG | Exit | The Hanover Group | $0 | – | -225,586 | – | -0.72% | – |
| HEIA | Exit | HEICO Corp. Class A | $0 | – | -267,416 | – | -0.78% | – |
| RSG | Exit | Republic Services, Inc. | $0 | – | -266,593 | – | -0.79% | – |
| STE | Exit | Steris PLC | $0 | – | -171,979 | – | -0.86% | – |
| PAYX | Exit | Paychex Inc | $0 | – | -315,654 | – | -0.87% | – |
| JKHY | Exit | Jack Henry & Associates Inc | $0 | – | -218,913 | – | -0.88% | – |
| PGR | Exit | Progressive Corp. | $0 | – | -413,503 | – | -0.92% | – |
| POOL | Exit | Pool Corp | $0 | – | -98,331 | – | -1.05% | – |
| MTB | Exit | M&T Bank Corporation | $0 | – | -300,895 | – | -1.10% | – |
| FBHS | Exit | Fortune Brands Home & Sec Inc | $0 | – | -540,475 | – | -1.19% | – |
| ENTG | Exit | Entegris, Inc. | $0 | – | -392,299 | – | -1.21% | – |
| DG | Exit | Dollar General Corporation | $0 | – | -249,797 | – | -1.30% | – |
| ZBRA | Exit | Zebra Technologies A | $0 | – | -105,958 | – | -1.34% | – |
| BRKA | Exit | Berkshire Hathaway Inc. A | $0 | – | -137 | – | -1.38% | – |
| TROW | Exit | T Rowe Price Group, Inc. | $0 | – | -289,778 | – | -1.40% | – |
| SSB | Exit | SouthState Corporation | $0 | – | -768,623 | – | -1.41% | – |
| ADI | Exit | Analog Devices Inc | $0 | – | -355,465 | – | -1.46% | – |
| PNFP | Exit | Pinnacle Financial Partners, I | $0 | – | -657,547 | – | -1.52% | – |
| FIS | Exit | Fidelity National Info Service | $0 | – | -519,273 | – | -1.55% | – |
| EOG | Exit | EOG Resources, Inc. | $0 | – | -850,795 | – | -1.68% | – |
| LSTR | Exit | Landstar System, Inc. | $0 | – | -437,126 | – | -1.70% | – |
| BKI | Exit | Black Knight | $0 | – | -966,205 | – | -1.71% | – |
| BR | Exit | Broadridge Financial Solutions | $0 | – | -425,603 | – | -1.74% | – |
| AZO | Exit | AutoZone, Inc. | $0 | – | -46,144 | – | -1.93% | – |
| GGG | Exit | Graco Inc. | $0 | – | -1,192,971 | – | -2.05% | – |
| AJG | Exit | Arthur J. Gallagher & Co. | $0 | – | -566,647 | – | -2.07% | – |
| ITW | Exit | Illinois Tool Works Inc. | $0 | – | -422,975 | – | -2.15% | – |
| FAST | Exit | Fastenal Co | $0 | – | -1,714,337 | – | -2.18% | – |
| TT | Exit | Trane Technologies PLC | $0 | – | -543,697 | – | -2.31% | – |
| MCHP | Exit | Microchip Technology Incorpora | $0 | – | -641,304 | – | -2.42% | – |
| G | Exit | Genpact | $0 | – | -2,255,799 | – | -2.63% | – |
| KMX | Exit | CarMax, Inc. | $0 | – | -870,961 | – | -2.74% | – |
| VMC | Exit | Vulcan Materials | $0 | – | -681,504 | – | -2.83% | – |
| MKL | Exit | Markel Corporation | $0 | – | -97,748 | – | -2.87% | – |
| AVY | Exit | Avery Dennison Corp | $0 | – | -570,825 | – | -2.91% | – |
| APD | Exit | Air Products & Chemicals, Inc. | $0 | – | -475,145 | – | -2.99% | – |
| SYK | Exit | Stryker Corporation | $0 | – | -564,865 | – | -3.66% | – |
| IEX | Exit | IDEX Corporation | $0 | – | -775,448 | – | -3.94% | – |
| BRO | Exit | Brown & Brown, Inc. | $0 | – | -2,900,687 | – | -3.95% | – |
| BAM | Exit | Brookfield Asset Management In | $0 | – | -3,084,144 | – | -4.06% | – |
| ROST | Exit | Ross Stores, Inc. | $0 | – | -1,645,974 | – | -4.40% | – |
| CDW | Exit | CDW Corporation | $0 | – | -1,328,256 | – | -5.94% | – |
Q3 2021
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CDW | Sell | CDW Corporation | $241,769,000 | +3.1% | 1,328,256 | -1.1% | 5.94% | +4.6% |
| ROST | Buy | Ross Stores, Inc. | $179,164,000 | -11.9% | 1,645,974 | +0.3% | 4.40% | -10.6% |
| BAM | Sell | Brookfield Asset Management In | $165,033,000 | +4.3% | 3,084,144 | -0.6% | 4.06% | +5.8% |
| BRO | Sell | Brown & Brown, Inc. | $160,843,000 | +4.0% | 2,900,687 | -0.3% | 3.95% | +5.5% |
| IEX | Sell | IDEX Corporation | $160,479,000 | -6.2% | 775,448 | -0.2% | 3.94% | -4.8% |
| SYK | Buy | Stryker Corporation | $148,966,000 | +1.8% | 564,865 | +0.3% | 3.66% | +3.3% |
| APD | Buy | Air Products & Chemicals, Inc. | $121,689,000 | -9.9% | 475,145 | +1.2% | 2.99% | -8.5% |
| AVY | Sell | Avery Dennison Corp | $118,281,000 | -2.7% | 570,825 | -1.2% | 2.91% | -1.2% |
| MKL | Sell | Markel Corporation | $116,822,000 | +0.5% | 97,748 | -0.2% | 2.87% | +2.0% |
| VMC | Buy | Vulcan Materials | $115,283,000 | -2.5% | 681,504 | +0.3% | 2.83% | -1.1% |
| KMX | Sell | CarMax, Inc. | $111,448,000 | -1.1% | 870,961 | -0.2% | 2.74% | +0.3% |
| G | Buy | Genpact | $107,173,000 | +5.3% | 2,255,799 | +0.7% | 2.63% | +6.9% |
| MCHP | Buy | Microchip Technology Incorpora | $98,434,000 | +5.5% | 641,304 | +2.9% | 2.42% | +7.0% |
| TT | Sell | Trane Technologies PLC | $93,869,000 | -8.1% | 543,697 | -2.0% | 2.31% | -6.7% |
| FAST | Buy | Fastenal Co | $88,477,000 | +0.1% | 1,714,337 | +0.8% | 2.18% | +1.5% |
| ITW | Buy | Illinois Tool Works Inc. | $87,399,000 | -7.2% | 422,975 | +0.4% | 2.15% | -5.9% |
| AJG | Sell | Arthur J. Gallagher & Co. | $84,232,000 | +5.7% | 566,647 | -0.4% | 2.07% | +7.3% |
| GGG | Buy | Graco Inc. | $83,472,000 | -6.8% | 1,192,971 | +0.8% | 2.05% | -5.4% |
| AZO | Sell | AutoZone, Inc. | $78,352,000 | +12.3% | 46,144 | -1.3% | 1.93% | +14.0% |
| BR | Buy | Broadridge Financial Solutions | $70,922,000 | +4.5% | 425,603 | +1.3% | 1.74% | +6.0% |
| BKI | Buy | Black Knight | $69,567,000 | -7.3% | 966,205 | +0.4% | 1.71% | -5.9% |
| LSTR | Sell | Landstar System, Inc. | $68,987,000 | -0.8% | 437,126 | -0.7% | 1.70% | +0.7% |
| EOG | Sell | EOG Resources, Inc. | $68,293,000 | -4.5% | 850,795 | -0.7% | 1.68% | -3.1% |
| FIS | Buy | Fidelity National Info Service | $63,185,000 | +4.3% | 519,273 | +21.5% | 1.55% | +5.9% |
| PNFP | Sell | Pinnacle Financial Partners, I | $61,862,000 | +4.5% | 657,547 | -2.0% | 1.52% | +6.0% |
| ADI | Buy | Analog Devices Inc | $59,533,000 | -1.3% | 355,465 | +1.4% | 1.46% | +0.1% |
| SSB | Sell | SouthState Corporation | $57,393,000 | -13.6% | 768,623 | -5.4% | 1.41% | -12.3% |
| TROW | Buy | T Rowe Price Group, Inc. | $56,999,000 | -0.4% | 289,778 | +0.2% | 1.40% | +1.1% |
| BRKA | Sell | Berkshire Hathaway Inc. A | $56,359,000 | -24.4% | 137 | -23.0% | 1.38% | -23.3% |
| ZBRA | Buy | Zebra Technologies A | $54,613,000 | -2.4% | 105,958 | +0.2% | 1.34% | -1.0% |
| DG | Buy | Dollar General Corporation | $52,992,000 | -1.3% | 249,797 | +0.7% | 1.30% | +0.2% |
| ENTG | Buy | Entegris, Inc. | $49,390,000 | +2.5% | 392,299 | +0.1% | 1.21% | +4.0% |
| FBHS | Sell | Fortune Brands Home & Sec Inc | $48,329,000 | -10.6% | 540,475 | -0.5% | 1.19% | -9.3% |
| MTB | Sell | M&T Bank Corporation | $44,936,000 | +2.4% | 300,895 | -0.3% | 1.10% | +3.9% |
| POOL | Sell | Pool Corp | $42,716,000 | -6.2% | 98,331 | -1.0% | 1.05% | -4.8% |
| PGR | Buy | Progressive Corp. | $37,377,000 | -7.3% | 413,503 | +0.7% | 0.92% | -5.9% |
| JKHY | Buy | Jack Henry & Associates Inc | $35,915,000 | +7.7% | 218,913 | +7.4% | 0.88% | +9.3% |
| PAYX | Buy | Paychex Inc | $35,495,000 | +6.0% | 315,654 | +1.1% | 0.87% | +7.5% |
| STE | Buy | Steris PLC | $35,132,000 | +5.7% | 171,979 | +6.7% | 0.86% | +7.2% |
| RSG | Buy | Republic Services, Inc. | $32,007,000 | +26.0% | 266,593 | +15.4% | 0.79% | +28.0% |
| HEIA | Buy | HEICO Corp. Class A | $31,670,000 | -3.2% | 267,416 | +1.5% | 0.78% | -1.8% |
| THG | Sell | The Hanover Group | $29,240,000 | -11.3% | 225,586 | -7.2% | 0.72% | -10.0% |
| EXLS | Sell | Exlservice Holdings Inc. | $26,917,000 | +11.7% | 218,628 | -3.6% | 0.66% | +13.4% |
| DLR | Sell | Digital Realty Trust, Inc. | $25,492,000 | -23.5% | 176,474 | -20.3% | 0.63% | -22.3% |
| FHB | Buy | First Hawaiian Inc. | $24,081,000 | +4.5% | 820,490 | +0.9% | 0.59% | +6.1% |
| CIGI | Sell | Colliers International Group I | $22,196,000 | +10.2% | 173,802 | -3.4% | 0.55% | +11.9% |
| CTAS | Buy | Cintas Corp | $21,655,000 | +1.0% | 56,887 | +1.3% | 0.53% | +2.3% |
| CHH | Sell | Choice Hotels International, I | $21,298,000 | +2.9% | 168,539 | -3.2% | 0.52% | +4.4% |
| CBZ | Sell | CBIZ, Inc. | $19,110,000 | -2.3% | 590,917 | -1.0% | 0.47% | -0.8% |
| HOMB | Sell | Home BancShares, Inc. | $18,407,000 | -7.5% | 782,268 | -3.0% | 0.45% | -6.2% |
| TRRSF | Buy | Trisura Group Ltd. | $17,772,000 | -6.1% | 525,656 | +266.1% | 0.44% | -4.8% |
| BRKB | Sell | Berkshire Hathaway Inc. B | $17,521,000 | -14.4% | 64,192 | -12.9% | 0.43% | -13.1% |
| SPSC | Sell | SPS Commerce Inc. | $16,180,000 | +56.8% | 100,303 | -3.0% | 0.40% | +59.2% |
| BOMN | Buy | Boston Omaha Corporation | $16,157,000 | +22.4% | 416,625 | +0.1% | 0.40% | +24.1% |
| BIPC | Buy | Brookfield Infrastructure Corp | $14,927,000 | -20.5% | 249,280 | +0.1% | 0.37% | -19.3% |
| PAYA | Buy | Paya Holdings | $14,873,000 | +206.0% | 1,368,222 | +210.2% | 0.37% | +210.2% |
| FTDR | Buy | Frontdoor, Inc. | $14,742,000 | +3.7% | 351,830 | +23.3% | 0.36% | +5.2% |
| PAG | Buy | Penske Automotive Group Inc. | $13,694,000 | +33.5% | 136,120 | +0.2% | 0.34% | +35.9% |
| NOMD | Buy | Nomad Foods Ltd | $13,173,000 | -2.3% | 477,985 | +0.2% | 0.32% | -0.9% |
| TWNK | Sell | Hostess Brands Inc. | $13,033,000 | +3.5% | 750,306 | -3.6% | 0.32% | +4.9% |
| CASS | Buy | Cass Information Systems Inc. | $12,800,000 | +11.1% | 305,860 | +8.2% | 0.32% | +12.9% |
| CSV | Buy | Carriage Services Inc. | $12,544,000 | +21.3% | 281,314 | +0.5% | 0.31% | +22.7% |
| MNRO | Sell | Monro Inc. | $12,351,000 | -11.3% | 214,767 | -2.1% | 0.30% | -9.8% |
| USPH | Buy | U.S. Physical Therapy Inc. | $11,614,000 | -4.5% | 105,006 | +0.1% | 0.28% | -3.1% |
| FELE | Buy | Franklin Electric Co., Inc. | $10,896,000 | -0.6% | 136,454 | +0.3% | 0.27% | +0.8% |
| DSGX | Buy | Descartes Systems Group Inc. | $10,216,000 | +18.0% | 125,717 | +0.4% | 0.25% | +19.5% |
| OLLI | Buy | Ollie's Bargain Outlet Holding | $9,638,000 | +26.7% | 159,880 | +76.8% | 0.24% | +28.8% |
| CATC | Buy | Cambridge Bancorp | $9,208,000 | +6.2% | 104,636 | +0.2% | 0.23% | +7.6% |
| New | Ryan Specialty Group Holdings | $9,019,000 | – | 266,288 | – | 0.22% | – | |
| MKC | Buy | McCormick & Company | $8,373,000 | -2.0% | 103,337 | +6.8% | 0.21% | -0.5% |
| DFH | Buy | Dream Finders Homes Inc. | $8,298,000 | -13.1% | 478,810 | +22.6% | 0.20% | -11.7% |
| HCSG | Buy | Healthcare Services Group, Inc | $7,573,000 | -20.1% | 303,022 | +0.9% | 0.19% | -19.1% |
| OSW | Buy | One Spa World Holdings Ltd. | $7,525,000 | +13.0% | 754,783 | +9.9% | 0.18% | +14.9% |
| WTM | Sell | White Mountains Insurance Grou | $6,170,000 | -51.9% | 5,768 | -48.3% | 0.15% | -51.0% |
| FND | Sell | Floor & Decor Holdings | $3,119,000 | -8.7% | 25,821 | -20.1% | 0.08% | -7.2% |
| AAPL | Buy | Apple, Inc. | $2,301,000 | +3.7% | 16,263 | +0.4% | 0.06% | +5.6% |
| XOM | Sell | Exxon Mobil Corporation | $2,099,000 | -8.1% | 35,689 | -1.4% | 0.05% | -5.5% |
| MSFT | Buy | Microsoft Corp | $919,000 | +4.8% | 3,261 | +0.8% | 0.02% | +9.5% |
| IBM | Buy | International Business Machine | $699,000 | -4.4% | 5,033 | +1.0% | 0.02% | -5.6% |
| MRK | Sell | Merck & Co Inc New | $574,000 | -5.7% | 7,648 | -2.4% | 0.01% | -6.7% |
| NBTB | Sell | NBT Bancorp Inc | $534,000 | -6.0% | 14,780 | -6.3% | 0.01% | -7.1% |
| PG | Sell | Procter & Gamble | $519,000 | -0.2% | 3,710 | -3.8% | 0.01% | 0.0% |
| HBAN | Sell | Huntington Bancshares | $496,000 | -26.2% | 32,056 | -31.9% | 0.01% | -25.0% |
| AMGN | Sell | Amgen Incorporated | $333,000 | -19.0% | 1,564 | -7.3% | 0.01% | -20.0% |
| LQD | Buy | Ishares Iboxx Investop Iboxx $etf | $205,000 | -0.5% | 1,543 | +0.5% | 0.01% | 0.0% |
| MBIO | Exit | Mustang Bio Inc. | $0 | – | -15,000 | – | -0.00% | – |
| CKPT | Exit | Checkpoint Therapeutics Inc. | $0 | – | -27,400 | – | -0.00% | – |
| KO | Exit | Coca Cola Company | $0 | – | -3,977 | – | -0.01% | – |
| PLTR | Exit | Palantir Technologies Inc-A | $0 | – | -8,299 | – | -0.01% | – |
| T | Exit | AT&T, Inc. | $0 | – | -7,462 | – | -0.01% | – |
| UPS | Exit | United Parcel Service Inc. | $0 | – | -1,030 | – | -0.01% | – |
| GE | Exit | General Electric Company | $0 | – | -17,558 | – | -0.01% | – |
| CASY | Exit | Caseys Gen Stores Inc | $0 | – | -1,500 | – | -0.01% | – |
| GLNV | Exit | Glenville Bank Hldg Co | $0 | – | -4,006 | – | -0.01% | – |
| ADP | Exit | Auto Data Processing | $0 | – | -2,060 | – | -0.01% | – |
| BAMR | Exit | Brookfield Asset Management Re | $0 | – | -21,050 | – | -0.03% | – |
| AFIPA | Exit | Amfi Corp. | $0 | – | -92 | – | -0.03% | – |
| NTUS | Exit | Natus Medical, Inc. | $0 | – | -100,489 | – | -0.06% | – |
| FRPH | Exit | FRP Holdings, Inc. | $0 | – | -172,258 | – | -0.23% | – |
Q2 2021
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CDW | New | CDW Corporation | $234,446,000 | – | 1,342,376 | – | 5.68% | – |
| ROST | New | Ross Stores, Inc. | $203,397,000 | – | 1,640,297 | – | 4.93% | – |
| IEX | New | IDEX Corporation | $171,064,000 | – | 777,388 | – | 4.14% | – |
| BAM | New | Brookfield Asset Management In | $158,249,000 | – | 3,104,133 | – | 3.83% | – |
| BRO | New | Brown & Brown, Inc. | $154,675,000 | – | 2,910,714 | – | 3.75% | – |
| SYK | New | Stryker Corporation | $146,274,000 | – | 563,178 | – | 3.54% | – |
| APD | New | Air Products & Chemicals, Inc. | $135,009,000 | – | 469,302 | – | 3.27% | – |
| AVY | New | Avery Dennison Corp | $121,521,000 | – | 578,011 | – | 2.94% | – |
| VMC | New | Vulcan Materials | $118,266,000 | – | 679,417 | – | 2.86% | – |
| MKL | New | Markel Corporation | $116,270,000 | – | 97,977 | – | 2.82% | – |
| KMX | New | CarMax, Inc. | $112,725,000 | – | 872,824 | – | 2.73% | – |
| TT | New | Trane Technologies PLC | $102,108,000 | – | 554,513 | – | 2.47% | – |
| G | New | Genpact | $101,767,000 | – | 2,240,085 | – | 2.46% | – |
| ITW | New | Illinois Tool Works Inc. | $94,204,000 | – | 421,383 | – | 2.28% | – |
| MCHP | New | Microchip Technology Incorpora | $93,305,000 | – | 623,114 | – | 2.26% | – |
| GGG | New | Graco Inc. | $89,597,000 | – | 1,183,581 | – | 2.17% | – |
| FAST | New | Fastenal Co | $88,426,000 | – | 1,700,497 | – | 2.14% | – |
| AJG | New | Arthur J. Gallagher & Co. | $79,670,000 | – | 568,746 | – | 1.93% | – |
| BKI | New | Black Knight | $75,042,000 | – | 962,324 | – | 1.82% | – |
| BRKA | New | Berkshire Hathaway Inc. A | $74,511,000 | – | 178 | – | 1.80% | – |
| EOG | New | EOG Resources, Inc. | $71,501,000 | – | 856,912 | – | 1.73% | – |
| AZO | New | AutoZone, Inc. | $69,784,000 | – | 46,765 | – | 1.69% | – |
| LSTR | New | Landstar System, Inc. | $69,528,000 | – | 439,994 | – | 1.68% | – |
| BR | New | Broadridge Financial Solutions | $67,852,000 | – | 420,060 | – | 1.64% | – |
| SSB | New | South State Corporation | $66,400,000 | – | 812,138 | – | 1.61% | – |
| FIS | New | Fidelity National Info Service | $60,561,000 | – | 427,476 | – | 1.47% | – |
| ADI | New | Analog Devices Inc | $60,328,000 | – | 350,416 | – | 1.46% | – |
| PNFP | New | Pinnacle Financial Partners, I | $59,220,000 | – | 670,739 | – | 1.43% | – |
| TROW | New | T Rowe Price Group, Inc. | $57,225,000 | – | 289,058 | – | 1.39% | – |
| ZBRA | New | Zebra Technologies A | $55,969,000 | – | 105,703 | – | 1.36% | – |
| FBHS | New | Fortune Brands Home & Sec Inc | $54,086,000 | – | 542,981 | – | 1.31% | – |
| DG | New | Dollar General Corporation | $53,671,000 | – | 248,027 | – | 1.30% | – |
| ENTG | New | Entegris, Inc. | $48,175,000 | – | 391,760 | – | 1.17% | – |
| POOL | New | Pool Corp | $45,539,000 | – | 99,286 | – | 1.10% | – |
| MTB | New | M&T Bank Corporation | $43,875,000 | – | 301,939 | – | 1.06% | – |
| PGR | New | Progressive Corp. | $40,318,000 | – | 410,526 | – | 0.98% | – |
| PAYX | New | Paychex Inc | $33,486,000 | – | 312,082 | – | 0.81% | – |
| JKHY | New | Jack Henry & Associates Inc | $33,339,000 | – | 203,893 | – | 0.81% | – |
| DLR | New | Digital Realty Trust, Inc. | $33,334,000 | – | 221,549 | – | 0.81% | – |
| STE | New | Steris PLC | $33,240,000 | – | 161,126 | – | 0.80% | – |
| THG | New | The Hanover Group | $32,977,000 | – | 243,124 | – | 0.80% | – |
| HEIA | New | HEICO Corp. Class A | $32,718,000 | – | 263,474 | – | 0.79% | – |
| RSG | New | Republic Services, Inc. | $25,407,000 | – | 230,955 | – | 0.62% | – |
| EXLS | New | Exlservice Holdings Inc. | $24,101,000 | – | 226,810 | – | 0.58% | – |
| FHB | New | First Hawaiian Inc. | $23,043,000 | – | 813,085 | – | 0.56% | – |
| CTAS | New | Cintas Corp | $21,448,000 | – | 56,147 | – | 0.52% | – |
| CHH | New | Choice Hotels International, I | $20,689,000 | – | 174,059 | – | 0.50% | – |
| BRKB | New | Berkshire Hathaway Inc. B | $20,472,000 | – | 73,661 | – | 0.50% | – |
| CIGI | New | Colliers International Group I | $20,145,000 | – | 179,899 | – | 0.49% | – |
| HOMB | New | Home BancShares, Inc. | $19,910,000 | – | 806,738 | – | 0.48% | – |
| CBZ | New | CBIZ, Inc. | $19,569,000 | – | 597,170 | – | 0.47% | – |
| TRRSF | New | Trisura Group Ltd. | $18,930,000 | – | 143,585 | – | 0.46% | – |
| BIPC | New | Brookfield Infrastructure Corp | $18,781,000 | – | 249,085 | – | 0.46% | – |
| APH | New | Amphenol Corp. | $17,452,000 | – | 255,115 | – | 0.42% | – |
| FTDR | New | Frontdoor, Inc. | $14,216,000 | – | 285,340 | – | 0.34% | – |
| MNRO | New | Monro Inc. | $13,929,000 | – | 219,318 | – | 0.34% | – |
| NOMD | New | Nomad Foods Ltd | $13,486,000 | – | 477,060 | – | 0.33% | – |
| BOMN | New | Boston Omaha Corporation | $13,203,000 | – | 416,370 | – | 0.32% | – |
| ROP | New | Roper Industries Inc. | $13,166,000 | – | 28,000 | – | 0.32% | – |
| WTM | New | White Mountains Insurance Grou | $12,817,000 | – | 11,164 | – | 0.31% | – |
| TWNK | New | Hostess Brands Inc. | $12,595,000 | – | 777,966 | – | 0.30% | – |
| USPH | New | U.S. Physical Therapy Inc. | $12,155,000 | – | 104,901 | – | 0.29% | – |
| CASS | New | Cass Information Systems Inc. | $11,521,000 | – | 282,720 | – | 0.28% | – |
| FELE | New | Franklin Electric Co., Inc. | $10,965,000 | – | 136,004 | – | 0.27% | – |
| CWST | New | Casella Waste System Inc. | $10,684,000 | – | 168,442 | – | 0.26% | – |
| CSV | New | Carriage Services Inc. | $10,344,000 | – | 279,784 | – | 0.25% | – |
| SPSC | New | SPS Commerce Inc. | $10,320,000 | – | 103,353 | – | 0.25% | – |
| PAG | New | Penske Automotive Group Inc. | $10,259,000 | – | 135,905 | – | 0.25% | – |
| FRPH | New | FRP Holdings, Inc. | $9,591,000 | – | 172,258 | – | 0.23% | – |
| DFH | New | Dream Finders Homes Inc. | $9,544,000 | – | 390,650 | – | 0.23% | – |
| HCSG | New | Healthcare Services Group, Inc | $9,481,000 | – | 300,322 | – | 0.23% | – |
| NVR | New | NVR Inc. | $9,400,000 | – | 1,890 | – | 0.23% | – |
| CATC | New | Cambridge Bancorp | $8,668,000 | – | 104,446 | – | 0.21% | – |
| DSGX | New | Descartes Systems Group Inc. | $8,656,000 | – | 125,157 | – | 0.21% | – |
| MKC | New | McCormick & Company | $8,545,000 | – | 96,747 | – | 0.21% | – |
| OLLI | New | Ollie's Bargain Outlet Holding | $7,609,000 | – | 90,440 | – | 0.18% | – |
| OSW | New | One Spa World Holdings Ltd. | $6,658,000 | – | 687,063 | – | 0.16% | – |
| PAYA | New | Paya Holdings | $4,860,000 | – | 441,026 | – | 0.12% | – |
| FND | New | Floor & Decor Holdings | $3,416,000 | – | 32,321 | – | 0.08% | – |
| NTUS | New | Natus Medical, Inc. | $2,611,000 | – | 100,489 | – | 0.06% | – |
| XOM | New | Exxon Mobil Corporation | $2,283,000 | – | 36,189 | – | 0.06% | – |
| AAPL | New | Apple Inc | $2,219,000 | – | 16,200 | – | 0.05% | – |
| VUG | New | Vanguard Growthetf | $1,887,000 | – | 6,581 | – | 0.05% | – |
| AFIPA | New | Amfi Corp. | $1,380,000 | – | 92 | – | 0.03% | – |
| PWB | New | Powershares Dynamic Large Capetf | $1,266,000 | – | 17,000 | – | 0.03% | – |
| XLY | New | Select Sector Spdr Tr Sbi Consetf | $1,174,000 | – | 6,576 | – | 0.03% | – |
| BAMR | New | Brookfield Asset Management Re | $1,095,000 | – | 21,050 | – | 0.03% | – |
| CNMD | New | Conmed Corp | $974,000 | – | 7,088 | – | 0.02% | – |
| MSFT | New | Microsoft Corp | $877,000 | – | 3,236 | – | 0.02% | – |
| ABBV | New | Abbvie, Inc. | $887,000 | – | 7,875 | – | 0.02% | – |
| IBM | New | International Business Machine | $731,000 | – | 4,985 | – | 0.02% | – |
| HBAN | New | Huntington Bancshares | $672,000 | – | 47,067 | – | 0.02% | – |
| SPY | New | Spdr S&P 500 ETF Trustetf | $632,000 | – | 1,477 | – | 0.02% | – |
| MRK | New | Merck & Co Inc New | $609,000 | – | 7,835 | – | 0.02% | – |
| BHDB | New | Bank of Labor Bancshares Inc | $562,000 | – | 17,032 | – | 0.01% | – |
| NBTB | New | NBT Bancorp Inc | $568,000 | – | 15,780 | – | 0.01% | – |
| PG | New | Procter & Gamble | $520,000 | – | 3,855 | – | 0.01% | – |
| IVV | New | iShares Core S&P 500 ETFetf | $516,000 | – | 1,200 | – | 0.01% | – |
| ITOT | New | iShares Core S&P Total US Stocetf | $444,000 | – | 4,500 | – | 0.01% | – |
| AMGN | New | Amgen Incorporated | $411,000 | – | 1,687 | – | 0.01% | – |
| USB | New | US Bancorp | $418,000 | – | 7,332 | – | 0.01% | – |
| PFE | New | Pfizer Incorporated | $417,000 | – | 10,659 | – | 0.01% | – |
| ADP | New | Auto Data Processing | $409,000 | – | 2,060 | – | 0.01% | – |
| CVS | New | CVS Caremark Corp | $361,000 | – | 4,322 | – | 0.01% | – |
| UNP | New | Union Pacific Corp. | $342,000 | – | 1,554 | – | 0.01% | – |
| GLNV | New | Glenville Bank Hldg Co | $280,000 | – | 4,006 | – | 0.01% | – |
| FANG | New | Diamond Back Energy Inc. | $299,000 | – | 3,182 | – | 0.01% | – |
| CMI | New | Cummins Inc | $293,000 | – | 1,200 | – | 0.01% | – |
| PEG | New | Pub Svc Ent Group Inc | $293,000 | – | 4,901 | – | 0.01% | – |
| CASY | New | Caseys Gen Stores Inc | $292,000 | – | 1,500 | – | 0.01% | – |
| DIS | New | Disney Walt Co | $266,000 | – | 1,513 | – | 0.01% | – |
| GE | New | General Electric Company | $236,000 | – | 17,558 | – | 0.01% | – |
| ETN | New | Eaton Corp PLC | $237,000 | – | 1,600 | – | 0.01% | – |
| DHR | New | Danaher Corp Del | $268,000 | – | 1,000 | – | 0.01% | – |
| New | Bank Of Richmondville | $207,000 | – | 1,000 | – | 0.01% | – | |
| KO | New | Coca Cola Company | $215,000 | – | 3,977 | – | 0.01% | – |
| PLTR | New | Palantir Technologies Inc-A | $219,000 | – | 8,299 | – | 0.01% | – |
| UPS | New | United Parcel Service Inc. | $214,000 | – | 1,030 | – | 0.01% | – |
| XYL | New | Xylem, Inc. | $218,000 | – | 1,817 | – | 0.01% | – |
| RTX | New | Raytheon Technologies Corp | $207,000 | – | 2,421 | – | 0.01% | – |
| T | New | AT&T, Inc. | $215,000 | – | 7,462 | – | 0.01% | – |
| LQD | New | Ishares Iboxx Investop Iboxx $etf | $206,000 | – | 1,535 | – | 0.01% | – |
| DHIL | New | Diamond Hill Investment Group, | $224,000 | – | 1,336 | – | 0.01% | – |
| CKPT | New | Checkpoint Therapeutics Inc. | $81,000 | – | 27,400 | – | 0.00% | – |
| MBIO | New | Mustang Bio Inc. | $50,000 | – | 15,000 | – | 0.00% | – |
Q4 2020
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MBIO | Exit | Mustang Bio Inc. | $0 | – | -15,000 | – | -0.00% | – |
| CKPT | Exit | Checkpoint Therapeutics Inc. | $0 | – | -32,400 | – | -0.00% | – |
| GE | Exit | General Electric Company | $0 | – | -17,626 | – | -0.00% | – |
| DHR | Exit | Danaher Corp Del | $0 | – | -1,000 | – | -0.01% | – |
| KO | Exit | Coca Cola Company | $0 | – | -4,272 | – | -0.01% | – |
| Exit | Bank Of Richmondville | $0 | – | -1,000 | – | -0.01% | – | |
| T | Exit | AT&T, Inc. | $0 | – | -7,962 | – | -0.01% | – |
| LQD | Exit | Ishares Iboxx Investop Iboxx $etf | $0 | – | -1,507 | – | -0.01% | – |
| USB | Exit | US Bancorp | $0 | – | -7,332 | – | -0.01% | – |
| CMI | Exit | Cummins Inc | $0 | – | -1,200 | – | -0.01% | – |
| PEG | Exit | Pub Svc Ent Group Inc | $0 | – | -4,901 | – | -0.01% | – |
| CASY | Exit | Caseys Gen Stores Inc | $0 | – | -1,500 | – | -0.01% | – |
| GLNV | Exit | Glenville Bank Hldg Co | $0 | – | -4,006 | – | -0.01% | – |
| ADP | Exit | Auto Data Processing | $0 | – | -2,270 | – | -0.01% | – |
| UNP | Exit | Union Pacific Corp. | $0 | – | -1,554 | – | -0.01% | – |
| ITOT | Exit | iShares Core S&P Total US Stocetf | $0 | – | -4,500 | – | -0.01% | – |
| TCF | Exit | TCF Financial Corp. | $0 | – | -15,675 | – | -0.01% | – |
| PFE | Exit | Pfizer Incorporated | $0 | – | -10,659 | – | -0.01% | – |
| AMGN | Exit | Amgen Incorporated | $0 | – | -1,737 | – | -0.01% | – |
| SPY | Exit | Spdr S&P 500 ETF Trustetf | $0 | – | -1,477 | – | -0.02% | – |
| PG | Exit | Procter & Gamble | $0 | – | -3,971 | – | -0.02% | – |
| CNMD | Exit | Conmed Corp | $0 | – | -7,088 | – | -0.02% | – |
| NBTB | Exit | NBT Bancorp Inc | $0 | – | -24,180 | – | -0.02% | – |
| MRK | Exit | Merck & Co Inc New | $0 | – | -7,935 | – | -0.02% | – |
| ABBV | Exit | Abbvie, Inc. | $0 | – | -7,975 | – | -0.02% | – |
| IBM | Exit | International Business Machine | $0 | – | -6,010 | – | -0.02% | – |
| PWB | Exit | Powershares Dynamic Large Capetf | $0 | – | -17,000 | – | -0.03% | – |
| XOM | Exit | Exxon Mobil Corporation | $0 | – | -34,420 | – | -0.04% | – |
| XLY | Exit | Select Sector Spdr Tr Sbi Consetf | $0 | – | -8,576 | – | -0.04% | – |
| MSFT | Exit | Microsoft Corp | $0 | – | -6,866 | – | -0.05% | – |
| VUG | Exit | Vanguard Growthetf | $0 | – | -6,581 | – | -0.05% | – |
| AAPL | Exit | Apple Inc | $0 | – | -13,192 | – | -0.05% | – |
| OSW | Exit | One Spa World Holdings Ltd. | $0 | – | -479,625 | – | -0.10% | – |
| USPH | Exit | U.S. Physical Therapy Inc. | $0 | – | -69,040 | – | -0.19% | – |
| HCSG | Exit | Healthcare Services Group, Inc | $0 | – | -288,139 | – | -0.20% | – |
| CSV | Exit | Carriage Services Inc. | $0 | – | -278,888 | – | -0.20% | – |
| OGS | Exit | One Gas Inc. | $0 | – | -92,115 | – | -0.20% | – |
| NTUS | Exit | Natus Medical, Inc. | $0 | – | -399,432 | – | -0.22% | – |
| DSGX | Exit | Descartes Systems Group Inc. | $0 | – | -126,297 | – | -0.23% | – |
| HOMB | Exit | Home BancShares, Inc. | $0 | – | -482,063 | – | -0.24% | – |
| BOMN | Exit | Boston Omaha Corporation | $0 | – | -455,984 | – | -0.24% | – |
| HEIA | Exit | HEICO Corp. Class A | $0 | – | -84,325 | – | -0.24% | – |
| NVR | Exit | NVR Inc. | $0 | – | -1,890 | – | -0.25% | – |
| FRPH | Exit | FRP Holdings, Inc. | $0 | – | -185,866 | – | -0.25% | – |
| BIPC | Exit | Brookfield Infrastructure Corp | $0 | – | -141,615 | – | -0.25% | – |
| OLLI | Exit | Ollie's Bargain Outlet Holding | $0 | – | -91,005 | – | -0.26% | – |
| SPSC | Exit | SPS Commerce Inc. | $0 | – | -102,513 | – | -0.26% | – |
| FELE | Exit | Franklin Electric Co., Inc. | $0 | – | -139,124 | – | -0.26% | – |
| CTAS | Exit | Cintas Corp | $0 | – | -26,968 | – | -0.29% | – |
| TRRSF | Exit | Trisura Group Ltd. | $0 | – | -143,120 | – | -0.29% | – |
| FIS | Exit | Fidelity National Info Service | $0 | – | -63,800 | – | -0.30% | – |
| CWST | Exit | Casella Waste System Inc. | $0 | – | -168,442 | – | -0.30% | – |
| PAG | Exit | Penske Automotive Group Inc. | $0 | – | -198,306 | – | -0.30% | – |
| NOMD | Exit | Nomad Foods Ltd | $0 | – | -412,430 | – | -0.34% | – |
| ROP | Exit | Roper Industries Inc. | $0 | – | -28,000 | – | -0.36% | – |
| FTDR | Exit | Frontdoor, Inc. | $0 | – | -284,845 | – | -0.36% | – |
| MNRO | Exit | Monro Inc. | $0 | – | -278,845 | – | -0.36% | – |
| EXLS | Exit | Exlservice Holdings Inc. | $0 | – | -192,505 | – | -0.41% | – |
| TWNK | Exit | Hostess Brands Inc. | $0 | – | -1,030,825 | – | -0.41% | – |
| CIGI | Exit | Colliers International Group I | $0 | – | -193,259 | – | -0.42% | – |
| CBZ | Exit | CBIZ, Inc. | $0 | – | -583,525 | – | -0.43% | – |
| CHH | Exit | Choice Hotels International, I | $0 | – | -178,664 | – | -0.50% | – |
| FND | Exit | Floor & Decor Holdings | $0 | – | -216,058 | – | -0.52% | – |
| PNFP | Exit | Pinnacle Financial Partners, I | $0 | – | -490,880 | – | -0.56% | – |
| RSG | Exit | Republic Services, Inc. | $0 | – | -191,791 | – | -0.58% | – |
| STE | Exit | Steris PLC | $0 | – | -102,835 | – | -0.58% | – |
| JKHY | Exit | Jack Henry & Associates Inc | $0 | – | -120,943 | – | -0.64% | – |
| MKC | Exit | McCormick & Company | $0 | – | -103,464 | – | -0.65% | – |
| WTM | Exit | White Mountains Insurance Grou | $0 | – | -26,775 | – | -0.67% | – |
| PAYX | Exit | Paychex Inc | $0 | – | -266,350 | – | -0.69% | – |
| MTB | Exit | M&T Bank Corporation | $0 | – | -300,652 | – | -0.89% | – |
| THG | Exit | The Hanover Group | $0 | – | -323,010 | – | -0.97% | – |
| BRKB | Exit | Berkshire Hathaway Inc. B | $0 | – | -151,202 | – | -1.04% | – |
| EOG | Exit | EOG Resources, Inc. | $0 | – | -914,033 | – | -1.06% | – |
| DLR | Exit | Digital Realty Trust, Inc. | $0 | – | -223,781 | – | -1.06% | – |
| POOL | Exit | Pool Corp | $0 | – | -101,016 | – | -1.09% | – |
| TROW | Exit | T Rowe Price Group, Inc. | $0 | – | -288,182 | – | -1.19% | – |
| ADI | Exit | Analog Devices Inc | $0 | – | -324,382 | – | -1.22% | – |
| SSB | Exit | South State Corporation | $0 | – | -859,604 | – | -1.34% | – |
| ENTG | Exit | Entegris, Inc. | $0 | – | -583,770 | – | -1.40% | – |
| ZBRA | Exit | Zebra Technologies A | $0 | – | -182,100 | – | -1.48% | – |
| FBHS | Exit | Fortune Brands Home & Sec Inc | $0 | – | -544,125 | – | -1.52% | – |
| DG | Exit | Dollar General Corporation | $0 | – | -234,917 | – | -1.59% | – |
| BR | Exit | Broadridge Financial Solutions | $0 | – | -375,084 | – | -1.60% | – |
| AZO | Exit | AutoZone, Inc. | $0 | – | -48,449 | – | -1.84% | – |
| XLNX | Exit | Xilinx, Inc. | $0 | – | -557,111 | – | -1.88% | – |
| LSTR | Exit | Landstar System, Inc. | $0 | – | -476,206 | – | -1.93% | – |
| GGG | Exit | Graco Inc. | $0 | – | -988,666 | – | -1.96% | – |
| BRKA | Exit | Berkshire Hathaway Inc. A | $0 | – | -202 | – | -2.09% | – |
| AJG | Exit | Arthur J. Gallagher & Co. | $0 | – | -618,595 | – | -2.11% | – |
| MCHP | Exit | Microchip Technology Incorpora | $0 | – | -636,441 | – | -2.11% | – |
| BKI | Exit | Black Knight | $0 | – | -777,173 | – | -2.18% | – |
| TT | Exit | Trane Technologies PLC | $0 | – | -562,141 | – | -2.20% | – |
| FAST | Exit | Fastenal Co | $0 | – | -1,647,202 | – | -2.40% | – |
| AVY | Exit | Avery Dennison Corp | $0 | – | -610,122 | – | -2.52% | – |
| G | Exit | Genpact | $0 | – | -2,120,695 | – | -2.67% | – |
| ITW | Exit | Illinois Tool Works Inc. | $0 | – | -438,420 | – | -2.74% | – |
| KMX | Exit | CarMax, Inc. | $0 | – | -988,739 | – | -2.94% | – |
| VMC | Exit | Vulcan Materials | $0 | – | -672,836 | – | -2.94% | – |
| MKL | Exit | Markel Corporation | $0 | – | -94,540 | – | -2.97% | – |
| BAM | Exit | Brookfield Asset Management In | $0 | – | -3,152,270 | – | -3.37% | – |
| SYK | Exit | Stryker Corporation | $0 | – | -570,418 | – | -3.84% | – |
| BRO | Exit | Brown & Brown, Inc. | $0 | – | -2,941,806 | – | -4.30% | – |
| APD | Exit | Air Products & Chemicals, Inc. | $0 | – | -465,576 | – | -4.48% | – |
| IEX | Exit | IDEX Corporation | $0 | – | -799,984 | – | -4.71% | – |
| ROST | Exit | Ross Stores, Inc. | $0 | – | -1,628,015 | – | -4.91% | – |
| CDW | Exit | CDW Corporation | $0 | – | -1,381,693 | – | -5.33% | – |
Q3 2020
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CDW | Sell | CDW Corporation | $165,154,000 | +2.2% | 1,381,693 | -0.7% | 5.33% | -6.0% |
| ROST | Sell | Ross Stores, Inc. | $151,926,000 | +9.0% | 1,628,015 | -0.5% | 4.91% | +0.2% |
| IEX | Sell | IDEX Corporation | $145,925,000 | +15.1% | 799,984 | -0.3% | 4.71% | +5.9% |
| APD | Sell | Air Products & Chemicals, Inc. | $138,676,000 | +22.1% | 465,576 | -1.0% | 4.48% | +12.3% |
| BRO | Sell | Brown & Brown, Inc. | $133,176,000 | +9.7% | 2,941,806 | -1.3% | 4.30% | +0.9% |
| SYK | Buy | Stryker Corporation | $118,858,000 | +15.7% | 570,418 | +0.1% | 3.84% | +6.5% |
| BAM | Buy | Brookfield Asset Management In | $104,214,000 | +2.4% | 3,152,270 | +1.9% | 3.37% | -5.8% |
| MKL | Sell | Markel Corporation | $92,054,000 | +4.9% | 94,540 | -0.5% | 2.97% | -3.4% |
| VMC | Buy | Vulcan Materials | $91,196,000 | +43.8% | 672,836 | +22.9% | 2.94% | +32.2% |
| KMX | Sell | CarMax, Inc. | $90,875,000 | +1.8% | 988,739 | -0.8% | 2.94% | -6.3% |
| ITW | Sell | Illinois Tool Works Inc. | $84,707,000 | +9.8% | 438,420 | -0.6% | 2.74% | +1.0% |
| G | Buy | Genpact | $82,601,000 | +7.0% | 2,120,695 | +0.4% | 2.67% | -1.5% |
| AVY | Sell | Avery Dennison Corp | $77,998,000 | +11.6% | 610,122 | -0.4% | 2.52% | +2.6% |
| FAST | Sell | Fastenal Co | $74,272,000 | +4.5% | 1,647,202 | -0.8% | 2.40% | -3.9% |
| TT | Buy | Trane Technologies PLC | $68,160,000 | +36.8% | 562,141 | +0.4% | 2.20% | +25.8% |
| BKI | Sell | Black Knight | $67,653,000 | +19.5% | 777,173 | -0.4% | 2.18% | +10.0% |
| MCHP | Buy | Microchip Technology Incorpora | $65,401,000 | -2.4% | 636,441 | +0.1% | 2.11% | -10.2% |
| AJG | Sell | Arthur J. Gallagher & Co. | $65,311,000 | +6.7% | 618,595 | -1.5% | 2.11% | -1.9% |
| GGG | Sell | Graco Inc. | $60,655,000 | +27.3% | 988,666 | -0.4% | 1.96% | +17.1% |
| LSTR | Sell | Landstar System, Inc. | $59,759,000 | +11.0% | 476,206 | -0.6% | 1.93% | +2.2% |
| XLNX | Buy | Xilinx, Inc. | $58,073,000 | +7.9% | 557,111 | +1.8% | 1.88% | -0.8% |
| AZO | Buy | AutoZone, Inc. | $57,055,000 | +5.6% | 48,449 | +1.2% | 1.84% | -2.8% |
| BR | Sell | Broadridge Financial Solutions | $49,511,000 | -3.2% | 375,084 | -7.5% | 1.60% | -11.0% |
| DG | Sell | Dollar General Corporation | $49,243,000 | +9.6% | 234,917 | -0.4% | 1.59% | +0.8% |
| FBHS | Sell | Fortune Brands Home & Sec Inc | $47,078,000 | +34.4% | 544,125 | -0.7% | 1.52% | +23.7% |
| ZBRA | Buy | Zebra Technologies A | $45,973,000 | +0.1% | 182,100 | +1.5% | 1.48% | -7.9% |
| ENTG | Buy | Entegris, Inc. | $43,397,000 | +29.7% | 583,770 | +3.1% | 1.40% | +19.3% |
| SSB | Sell | South State Corporation | $41,390,000 | -5.0% | 859,604 | -6.0% | 1.34% | -12.6% |
| ADI | Buy | Analog Devices Inc | $37,868,000 | +60.2% | 324,382 | +68.3% | 1.22% | +47.3% |
| TROW | Sell | T Rowe Price Group, Inc. | $36,951,000 | +3.1% | 288,182 | -0.7% | 1.19% | -5.2% |
| POOL | Buy | Pool Corp | $33,794,000 | +23.2% | 101,016 | +0.1% | 1.09% | +13.3% |
| EOG | Sell | EOG Resources, Inc. | $32,850,000 | -41.2% | 914,033 | -17.1% | 1.06% | -45.9% |
| DLR | Sell | Digital Realty Trust, Inc. | $32,842,000 | +3.0% | 223,781 | -0.2% | 1.06% | -5.2% |
| BRKB | Sell | Berkshire Hathaway Inc. B | $32,197,000 | +15.2% | 151,202 | -3.4% | 1.04% | +6.0% |
| THG | Buy | The Hanover Group | $30,098,000 | +5.9% | 323,010 | +15.2% | 0.97% | -2.6% |
| MTB | Sell | M&T Bank Corporation | $27,687,000 | -11.7% | 300,652 | -0.3% | 0.89% | -18.7% |
| PAYX | Buy | Paychex Inc | $21,247,000 | +119.6% | 266,350 | +108.5% | 0.69% | +101.8% |
| WTM | Sell | White Mountains Insurance Grou | $20,858,000 | -13.2% | 26,775 | -1.1% | 0.67% | -20.1% |
| MKC | Sell | McCormick & Company | $20,082,000 | -3.0% | 103,464 | -10.3% | 0.65% | -10.7% |
| JKHY | Buy | Jack Henry & Associates Inc | $19,664,000 | +65.7% | 120,943 | +87.6% | 0.64% | +52.3% |
| STE | Buy | Steris PLC | $18,118,000 | +19.4% | 102,835 | +4.0% | 0.58% | +9.8% |
| RSG | Buy | Republic Services, Inc. | $17,904,000 | +13.9% | 191,791 | +0.1% | 0.58% | +4.7% |
| PNFP | Sell | Pinnacle Financial Partners, I | $17,470,000 | -16.8% | 490,880 | -1.8% | 0.56% | -23.5% |
| FND | Sell | Floor & Decor Holdings | $16,161,000 | +28.1% | 216,058 | -1.3% | 0.52% | +17.8% |
| CHH | Sell | Choice Hotels International, I | $15,358,000 | +8.1% | 178,664 | -0.8% | 0.50% | -0.6% |
| CBZ | Sell | CBIZ, Inc. | $13,345,000 | -4.7% | 583,525 | -0.1% | 0.43% | -12.4% |
| CIGI | Buy | Colliers International Group I | $12,888,000 | +20.8% | 193,259 | +3.8% | 0.42% | +10.9% |
| TWNK | Sell | Hostess Brands Inc. | $12,710,000 | -11.8% | 1,030,825 | -12.6% | 0.41% | -19.0% |
| EXLS | Buy | Exlservice Holdings Inc. | $12,700,000 | +6.4% | 192,505 | +2.3% | 0.41% | -2.1% |
| MNRO | Sell | Monro Inc. | $11,313,000 | -32.6% | 278,845 | -8.8% | 0.36% | -38.0% |
| PAG | Sell | Penske Automotive Group Inc. | $9,451,000 | +16.2% | 198,306 | -5.6% | 0.30% | +7.0% |
| CWST | Sell | Casella Waste System Inc. | $9,407,000 | +4.7% | 168,442 | -2.3% | 0.30% | -3.8% |
| FIS | Buy | Fidelity National Info Service | $9,392,000 | +30.2% | 63,800 | +18.6% | 0.30% | +19.8% |
| TRRSF | Buy | Trisura Group Ltd. | $9,058,000 | +60.9% | 143,120 | +13.9% | 0.29% | +48.0% |
| CTAS | Buy | Cintas Corp | $8,976,000 | +461.7% | 26,968 | +349.5% | 0.29% | +417.9% |
| FELE | Sell | Franklin Electric Co., Inc. | $8,185,000 | +11.6% | 139,124 | -0.3% | 0.26% | +2.7% |
| BIPC | New | Brookfield Infrastructure Corp | $7,844,000 | – | 141,615 | – | 0.25% | – |
| FRPH | Sell | FRP Holdings, Inc. | $7,745,000 | +2.4% | 185,866 | -0.3% | 0.25% | -5.7% |
| HEIA | New | HEICO Corp. Class A | $7,476,000 | – | 84,325 | – | 0.24% | – |
| BOMN | Buy | Boston Omaha Corporation | $7,296,000 | +0.1% | 455,984 | +0.1% | 0.24% | -7.8% |
| HOMB | Buy | Home BancShares, Inc. | $7,308,000 | +247.3% | 482,063 | +252.5% | 0.24% | +218.9% |
| DSGX | Sell | Descartes Systems Group Inc. | $7,196,000 | +7.7% | 126,297 | -0.0% | 0.23% | -1.3% |
| NTUS | Sell | Natus Medical, Inc. | $6,842,000 | -23.5% | 399,432 | -2.6% | 0.22% | -29.6% |
| OGS | Buy | One Gas Inc. | $6,357,000 | +36.3% | 92,115 | +52.2% | 0.20% | +25.0% |
| CSV | Sell | Carriage Services Inc. | $6,222,000 | +14.8% | 278,888 | -6.8% | 0.20% | +5.8% |
| HCSG | Buy | Healthcare Services Group, Inc | $6,204,000 | -11.9% | 288,139 | +0.1% | 0.20% | -19.0% |
| USPH | Buy | U.S. Physical Therapy Inc. | $5,998,000 | +14.1% | 69,040 | +6.4% | 0.19% | +4.9% |
| OSW | Sell | One Spa World Holdings Ltd. | $3,118,000 | +33.6% | 479,625 | -2.0% | 0.10% | +23.2% |
| AAPL | Buy | Apple Inc | $1,528,000 | +27.0% | 13,192 | +300.0% | 0.05% | +16.7% |
| DHR | New | Danaher Corp Del | $215,000 | – | 1,000 | – | 0.01% | – |
| KO | New | Coca Cola Company | $211,000 | – | 4,272 | – | 0.01% | – |
| LQD | Buy | Ishares Iboxx Investop Iboxx $etf | $203,000 | +1.0% | 1,507 | +0.6% | 0.01% | 0.0% |
| GE | Sell | General Electric Company | $110,000 | -30.4% | 17,626 | -23.8% | 0.00% | -33.3% |
| INTC | Exit | Intel Corp | $0 | – | -3,770 | – | -0.01% | – |
| RMD | Exit | Resmed Inc. | $0 | – | -19,450 | – | -0.13% | – |
| RHI | Exit | Robert Half Intl. Inc. | $0 | – | -270,408 | – | -0.50% | – |
| MHK | Exit | Mohawk Industries, Inc. | $0 | – | -321,814 | – | -1.15% | – |
Q2 2020
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CDW | New | CDW Corporation | $161,600,000 | – | 1,390,947 | – | 5.67% | – |
| ROST | New | Ross Stores, Inc. | $139,430,000 | – | 1,635,733 | – | 4.90% | – |
| IEX | New | IDEX Corporation | $126,834,000 | – | 802,546 | – | 4.45% | – |
| BRO | New | Brown & Brown, Inc. | $121,440,000 | – | 2,979,381 | – | 4.26% | – |
| APD | New | Air Products & Chemicals, Inc. | $113,599,000 | – | 470,466 | – | 3.99% | – |
| SYK | New | Stryker Corporation | $102,703,000 | – | 569,973 | – | 3.60% | – |
| BAM | New | Brookfield Asset Management In | $101,816,000 | – | 3,094,697 | – | 3.57% | – |
| KMX | New | CarMax, Inc. | $89,240,000 | – | 996,541 | – | 3.13% | – |
| MKL | New | Markel Corporation | $87,716,000 | – | 95,016 | – | 3.08% | – |
| G | New | Genpact | $77,177,000 | – | 2,113,280 | – | 2.71% | – |
| ITW | New | Illinois Tool Works Inc. | $77,146,000 | – | 441,210 | – | 2.71% | – |
| FAST | New | Fastenal Co | $71,102,000 | – | 1,659,717 | – | 2.50% | – |
| AVY | New | Avery Dennison Corp | $69,900,000 | – | 612,677 | – | 2.45% | – |
| MCHP | New | Microchip Technology Incorpora | $66,981,000 | – | 636,036 | – | 2.35% | – |
| VMC | New | Vulcan Materials | $63,431,000 | – | 547,526 | – | 2.23% | – |
| AJG | New | Arthur J. Gallagher & Co. | $61,215,000 | – | 627,915 | – | 2.15% | – |
| BKI | New | Black Knight | $56,605,000 | – | 780,108 | – | 1.99% | – |
| EOG | New | EOG Resources, Inc. | $55,876,000 | – | 1,102,970 | – | 1.96% | – |
| AZO | New | AutoZone, Inc. | $54,010,000 | – | 47,876 | – | 1.90% | – |
| BRKA | New | Berkshire Hathaway Inc. A | $53,995,000 | – | 202 | – | 1.90% | – |
| XLNX | New | Xilinx, Inc. | $53,838,000 | – | 547,188 | – | 1.89% | – |
| LSTR | New | Landstar System, Inc. | $53,816,000 | – | 479,171 | – | 1.89% | – |
| BR | New | Broadridge Financial Solutions | $51,151,000 | – | 405,351 | – | 1.80% | – |
| TT | New | Trane Technologies PLC | $49,816,000 | – | 559,858 | – | 1.75% | – |
| GGG | New | Graco Inc. | $47,646,000 | – | 992,833 | – | 1.67% | – |
| ZBRA | New | Zebra Technologies A | $45,930,000 | – | 179,450 | – | 1.61% | – |
| DG | New | Dollar General Corporation | $44,937,000 | – | 235,877 | – | 1.58% | – |
| SSB | New | South State Corporation | $43,576,000 | – | 914,318 | – | 1.53% | – |
| TROW | New | T Rowe Price Group, Inc. | $35,854,000 | – | 290,312 | – | 1.26% | – |
| FBHS | New | Fortune Brands Home & Sec Inc | $35,023,000 | – | 547,832 | – | 1.23% | – |
| ENTG | New | Entegris, Inc. | $33,449,000 | – | 566,450 | – | 1.17% | – |
| MHK | New | Mohawk Industries, Inc. | $32,748,000 | – | 321,814 | – | 1.15% | – |
| DLR | New | Digital Realty Trust, Inc. | $31,881,000 | – | 224,341 | – | 1.12% | – |
| MTB | New | M&T Bank Corporation | $31,339,000 | – | 301,419 | – | 1.10% | – |
| THG | New | The Hanover Group | $28,420,000 | – | 280,468 | – | 1.00% | – |
| BRKB | New | Berkshire Hathaway Inc. B | $27,938,000 | – | 156,509 | – | 0.98% | – |
| POOL | New | Pool Corp | $27,431,000 | – | 100,896 | – | 0.96% | – |
| WTM | New | White Mountains Insurance Grou | $24,040,000 | – | 27,073 | – | 0.84% | – |
| ADI | New | Analog Devices Inc | $23,642,000 | – | 192,777 | – | 0.83% | – |
| PNFP | New | Pinnacle Financial Partners, I | $20,999,000 | – | 500,097 | – | 0.74% | – |
| MKC | New | McCormick & Company | $20,698,000 | – | 115,367 | – | 0.73% | – |
| MNRO | New | Monro Inc. | $16,791,000 | – | 305,616 | – | 0.59% | – |
| RSG | New | Republic Services, Inc. | $15,716,000 | – | 191,537 | – | 0.55% | – |
| STE | New | Steris PLC | $15,175,000 | – | 98,900 | – | 0.53% | – |
| TWNK | New | Hostess Brands Inc. | $14,412,000 | – | 1,179,386 | – | 0.51% | – |
| RHI | New | Robert Half Intl. Inc. | $14,286,000 | – | 270,408 | – | 0.50% | – |
| CHH | New | Choice Hotels International, I | $14,207,000 | – | 180,067 | – | 0.50% | – |
| CBZ | New | CBIZ, Inc. | $14,002,000 | – | 584,145 | – | 0.49% | – |
| FTDR | New | Frontdoor, Inc. | $12,627,000 | – | 284,845 | – | 0.44% | – |
| FND | New | Floor & Decor Holdings | $12,618,000 | – | 218,873 | – | 0.44% | – |
| EXLS | New | Exlservice Holdings Inc. | $11,932,000 | – | 188,205 | – | 0.42% | – |
| JKHY | New | Jack Henry & Associates Inc | $11,865,000 | – | 64,473 | – | 0.42% | – |
| ROP | New | Roper Industries Inc. | $10,871,000 | – | 28,000 | – | 0.38% | – |
| CIGI | New | Colliers International Group I | $10,672,000 | – | 186,209 | – | 0.38% | – |
| PAYX | New | Paychex Inc | $9,676,000 | – | 127,730 | – | 0.34% | – |
| CWST | New | Casella Waste System Inc. | $8,988,000 | – | 172,442 | – | 0.32% | – |
| NTUS | New | Natus Medical, Inc. | $8,947,000 | – | 410,039 | – | 0.31% | – |
| OLLI | New | Ollie's Bargain Outlet Holding | $8,887,000 | – | 91,005 | – | 0.31% | – |
| NOMD | New | Nomad Foods Ltd | $8,847,000 | – | 412,430 | – | 0.31% | – |
| PAG | New | Penske Automotive Group Inc. | $8,131,000 | – | 210,061 | – | 0.28% | – |
| SPSC | New | SPS Commerce Inc. | $7,701,000 | – | 102,513 | – | 0.27% | – |
| FRPH | New | FRP Holdings, Inc. | $7,562,000 | – | 186,336 | – | 0.26% | – |
| FELE | New | Franklin Electric Co., Inc. | $7,331,000 | – | 139,594 | – | 0.26% | – |
| BOMN | New | Boston Omaha Corporation | $7,288,000 | – | 455,509 | – | 0.26% | – |
| FIS | New | Fidelity National Info Service | $7,214,000 | – | 53,800 | – | 0.25% | – |
| HCSG | New | Healthcare Services Group, Inc | $7,043,000 | – | 287,939 | – | 0.25% | – |
| DSGX | New | Descartes Systems Group Inc. | $6,682,000 | – | 126,307 | – | 0.24% | – |
| NVR | New | NVR Inc. | $6,159,000 | – | 1,890 | – | 0.22% | – |
| TRRSF | New | Trisura Group Ltd. | $5,629,000 | – | 125,675 | – | 0.20% | – |
| CSV | New | Carriage Services Inc. | $5,421,000 | – | 299,179 | – | 0.19% | – |
| USPH | New | U.S. Physical Therapy Inc. | $5,259,000 | – | 64,905 | – | 0.18% | – |
| OGS | New | One Gas Inc. | $4,663,000 | – | 60,520 | – | 0.16% | – |
| RMD | New | Resmed Inc. | $3,734,000 | – | 19,450 | – | 0.13% | – |
| OSW | New | One Spa World Holdings Ltd. | $2,334,000 | – | 489,320 | – | 0.08% | – |
| HOMB | New | Home BancShares, Inc. | $2,104,000 | – | 136,770 | – | 0.07% | – |
| CTAS | New | Cintas Corp | $1,598,000 | – | 6,000 | – | 0.06% | – |
| XOM | New | Exxon Mobil Corporation | $1,539,000 | – | 34,420 | – | 0.05% | – |
| MSFT | New | Microsoft Corp | $1,397,000 | – | 6,866 | – | 0.05% | – |
| VUG | New | Vanguard Growthetf | $1,330,000 | – | 6,581 | – | 0.05% | – |
| AAPL | New | Apple Inc | $1,203,000 | – | 3,298 | – | 0.04% | – |
| XLY | New | Select Sector Spdr Tr Sbi Consetf | $1,095,000 | – | 8,576 | – | 0.04% | – |
| PWB | New | Powershares Dynamic Large Capetf | $931,000 | – | 17,000 | – | 0.03% | – |
| ABBV | New | Abbvie, Inc. | $783,000 | – | 7,975 | – | 0.03% | – |
| NBTB | New | NBT Bancorp Inc | $744,000 | – | 24,180 | – | 0.03% | – |
| IBM | New | International Business Machine | $726,000 | – | 6,010 | – | 0.02% | – |
| MRK | New | Merck & Co Inc New | $614,000 | – | 7,935 | – | 0.02% | – |
| CNMD | New | Conmed Corp | $510,000 | – | 7,088 | – | 0.02% | – |
| PG | New | Procter & Gamble | $475,000 | – | 3,971 | – | 0.02% | – |
| TCF | New | TCF Financial Corp. | $461,000 | – | 15,675 | – | 0.02% | – |
| SPY | New | Spdr S&P 500 ETF Trustetf | $455,000 | – | 1,477 | – | 0.02% | – |
| AMGN | New | Amgen Incorporated | $410,000 | – | 1,737 | – | 0.01% | – |
| PFE | New | Pfizer Incorporated | $349,000 | – | 10,659 | – | 0.01% | – |
| ADP | New | Auto Data Processing | $338,000 | – | 2,270 | – | 0.01% | – |
| ITOT | New | iShares Core S&P Total US Stocetf | $312,000 | – | 4,500 | – | 0.01% | – |
| USB | New | US Bancorp | $270,000 | – | 7,332 | – | 0.01% | – |
| GLNV | New | Glenville Bank Hldg Co | $264,000 | – | 4,006 | – | 0.01% | – |
| UNP | New | Union Pacific Corp. | $263,000 | – | 1,554 | – | 0.01% | – |
| CASY | New | Caseys Gen Stores Inc | $224,000 | – | 1,500 | – | 0.01% | – |
| PEG | New | Pub Svc Ent Group Inc | $241,000 | – | 4,901 | – | 0.01% | – |
| New | Bank Of Richmondville | $215,000 | – | 1,000 | – | 0.01% | – | |
| INTC | New | Intel Corp | $226,000 | – | 3,770 | – | 0.01% | – |
| T | New | AT&T, Inc. | $241,000 | – | 7,962 | – | 0.01% | – |
| CMI | New | Cummins Inc | $208,000 | – | 1,200 | – | 0.01% | – |
| LQD | New | Ishares Iboxx Investop Iboxx $etf | $201,000 | – | 1,498 | – | 0.01% | – |
| GE | New | General Electric Company | $158,000 | – | 23,126 | – | 0.01% | – |
| CKPT | New | Checkpoint Therapeutics Inc. | $64,000 | – | 32,400 | – | 0.00% | – |
| MBIO | New | Mustang Bio Inc. | $48,000 | – | 15,000 | – | 0.00% | – |
Q4 2019
Q3 2019
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ROST | Buy | Ross Stores, Inc. | $173,747,000 | +11.8% | 1,581,679 | +0.8% | 5.73% | +10.9% |
| CDW | Sell | CDW Corporation | $172,983,000 | -14.5% | 1,403,628 | -23.0% | 5.70% | -15.1% |
| IEX | Sell | IDEX Corporation | $116,567,000 | -4.9% | 711,297 | -0.1% | 3.84% | -5.6% |
| SYK | Buy | Stryker Corporation | $109,183,000 | +5.5% | 504,778 | +0.2% | 3.60% | +4.7% |
| BAM | Buy | Brookfield Asset Management In | $109,158,000 | +11.2% | 2,056,088 | +0.1% | 3.60% | +10.4% |
| MKL | Buy | Markel Corporation | $108,521,000 | +8.6% | 91,819 | +0.1% | 3.58% | +7.8% |
| BRO | Sell | Brown & Brown, Inc. | $107,020,000 | +7.6% | 2,967,834 | -0.1% | 3.53% | +6.7% |
| APD | Buy | Air Products & Chemicals, Inc. | $93,446,000 | -1.8% | 421,192 | +0.2% | 3.08% | -2.5% |
| KMX | Sell | CarMax, Inc. | $89,367,000 | +1.0% | 1,015,532 | -0.3% | 2.95% | +0.2% |
| FLIR | Buy | FLIR Systems, Inc. | $76,211,000 | -2.1% | 1,449,146 | +0.7% | 2.51% | -2.9% |
| MCHP | Buy | Microchip Technology Incorpora | $73,402,000 | +9.4% | 790,034 | +2.1% | 2.42% | +8.6% |
| EOG | Buy | EOG Resources, Inc. | $70,615,000 | -14.2% | 951,427 | +7.7% | 2.33% | -14.9% |
| AVY | Buy | Avery Dennison Corp | $69,619,000 | -0.1% | 613,007 | +1.7% | 2.30% | -0.9% |
| ITW | Buy | Illinois Tool Works Inc. | $69,443,000 | +4.3% | 443,755 | +0.5% | 2.29% | +3.5% |
| MTB | Buy | M&T Bank Corporation | $67,862,000 | -5.3% | 429,588 | +1.9% | 2.24% | -6.0% |
| SSB | Sell | South State Corporation | $67,488,000 | +2.1% | 896,250 | -0.1% | 2.22% | +1.3% |
| AZO | Buy | AutoZone, Inc. | $55,252,000 | -1.2% | 50,941 | +0.2% | 1.82% | -1.9% |
| IR | Buy | Ingersoll-Rand, PLC | $53,690,000 | +5.0% | 435,761 | +7.9% | 1.77% | +4.1% |
| AJG | Buy | Arthur J. Gallagher & Co. | $53,248,000 | +3.9% | 594,490 | +1.6% | 1.76% | +3.2% |
| DG | Sell | Dollar General Corporation | $51,005,000 | +7.5% | 320,907 | -8.6% | 1.68% | +6.7% |
| WAT | Sell | Waters Corporation | $50,874,000 | -5.5% | 227,898 | -8.9% | 1.68% | -6.3% |
| SNA | Sell | Snap On Inc. | $49,855,000 | -8.7% | 318,484 | -3.4% | 1.64% | -9.4% |
| MAR | Buy | Marriott Intl Inc New Cl A | $46,192,000 | -3.6% | 371,411 | +8.7% | 1.52% | -4.3% |
| GGG | Sell | Graco Inc. | $46,035,000 | -8.4% | 999,901 | -0.1% | 1.52% | -9.0% |
| LSTR | Buy | Landstar System, Inc. | $45,558,000 | +5.5% | 404,671 | +1.2% | 1.50% | +4.7% |
| MHK | Sell | Mohawk Industries, Inc. | $45,538,000 | -18.2% | 367,035 | -2.8% | 1.50% | -18.9% |
| TROW | Sell | T Rowe Price Group, Inc. | $44,284,000 | +3.8% | 387,603 | -0.3% | 1.46% | +3.0% |
| FAST | Buy | Fastenal Co | $44,019,000 | +228.2% | 1,347,398 | +227.4% | 1.45% | +225.3% |
| DCI | Sell | Donaldson Company, Inc. | $39,667,000 | -36.1% | 761,650 | -37.6% | 1.31% | -36.6% |
| BKI | Sell | Black Knight | $36,047,000 | +1.5% | 590,352 | -0.0% | 1.19% | +0.7% |
| HSIC | Sell | Henry Schein, Inc. | $34,188,000 | -9.2% | 538,386 | -0.1% | 1.13% | -10.0% |
| BRKB | Buy | Berkshire Hathaway Inc. B | $31,969,000 | +2.2% | 153,682 | +4.8% | 1.05% | +1.4% |
| PNFP | Buy | Pinnacle Financial Partners, I | $31,529,000 | -0.6% | 555,579 | +0.7% | 1.04% | -1.3% |
| BR | Buy | Broadridge Financial Solutions | $30,958,000 | +0.1% | 248,797 | +2.7% | 1.02% | -0.7% |
| WTR | Sell | Aqua America, Inc. | $29,415,000 | +7.5% | 656,140 | -0.8% | 0.97% | +6.7% |
| DLR | Buy | Digital Realty Trust, Inc. | $28,162,000 | +12.6% | 216,948 | +2.2% | 0.93% | +11.8% |
| XLNX | Buy | Xilinx, Inc. | $27,729,000 | -12.0% | 289,147 | +8.2% | 0.91% | -12.8% |
| ENTG | Buy | Entegris, Inc. | $26,369,000 | +31.6% | 560,320 | +4.4% | 0.87% | +30.5% |
| MNRO | Buy | Monro Inc. | $24,973,000 | +13.9% | 316,073 | +23.0% | 0.82% | +13.0% |
| WTM | Sell | White Mountains Insurance Grou | $23,916,000 | +5.2% | 22,144 | -0.5% | 0.79% | +4.5% |
| FBHS | Buy | Fortune Brands Home & Sec Inc | $22,555,000 | +8.9% | 412,339 | +13.7% | 0.74% | +8.1% |
| TWNK | Buy | Hostess Brands Inc. | $19,629,000 | -3.1% | 1,403,551 | +0.0% | 0.65% | -3.9% |
| PAG | Buy | Penske Automotive Group Inc. | $19,452,000 | +3.2% | 411,430 | +3.3% | 0.64% | +2.4% |
| FTDR | Buy | Frontdoor, Inc. | $17,728,000 | +11.6% | 365,005 | +0.1% | 0.58% | +10.8% |
| ECOL | Buy | US Ecology, Inc. | $16,808,000 | +32.5% | 262,879 | +23.4% | 0.55% | +31.3% |
| CHH | Buy | Choice Hotels International, I | $16,156,000 | +2.3% | 181,610 | +0.1% | 0.53% | +1.5% |
| THG | Buy | The Hanover Group | $15,913,000 | +29.1% | 117,405 | +22.2% | 0.52% | +28.4% |
| RHI | Sell | Robert Half Intl. Inc. | $15,248,000 | -2.6% | 273,941 | -0.2% | 0.50% | -3.3% |
| YUM | Sell | YUM! Brands, Inc. | $15,041,000 | -44.7% | 132,600 | -46.0% | 0.50% | -45.1% |
| CBZ | Buy | CBIZ, Inc. | $13,888,000 | +20.1% | 590,960 | +0.1% | 0.46% | +19.3% |
| NTUS | Buy | Natus Medical, Inc. | $13,861,000 | +24.1% | 435,325 | +0.1% | 0.46% | +23.2% |
| RSG | Buy | Republic Services, Inc. | $13,693,000 | +0.0% | 158,214 | +0.1% | 0.45% | -0.7% |
| CIGI | Buy | Colliers International Group I | $13,448,000 | +17.4% | 179,185 | +12.0% | 0.44% | +16.3% |
| G | Buy | Genpact | $13,426,000 | +25.0% | 346,465 | +22.9% | 0.44% | +24.1% |
| ZBRA | New | Zebra Technologies A | $13,379,000 | – | 64,832 | – | 0.44% | – |
| THR | Buy | Thermon Group Holdings, Inc. | $12,473,000 | -10.3% | 542,784 | +0.1% | 0.41% | -11.0% |
| EXLS | Buy | Exlservice Holdings Inc. | $12,435,000 | +1.4% | 185,705 | +0.1% | 0.41% | +0.5% |
| MKC | Buy | McCormick & Company | $12,017,000 | +1.6% | 76,887 | +0.8% | 0.40% | +0.8% |
| HALL | Sell | Hallmark Financial Services, I | $11,361,000 | +20.4% | 593,867 | -10.4% | 0.38% | +19.8% |
| WSO | Buy | Watsco, Inc. | $10,678,000 | +7.2% | 63,117 | +3.7% | 0.35% | +6.3% |
| ANGO | Buy | Angiodynamics, Inc. | $10,534,000 | -6.3% | 571,900 | +0.1% | 0.35% | -7.2% |
| CSFL | Buy | CenterState Bank Corporation | $10,339,000 | +4.4% | 431,072 | +0.2% | 0.34% | +3.6% |
| MTDR | Buy | Matador Resources Company | $9,995,000 | -4.8% | 604,647 | +14.5% | 0.33% | -5.4% |
| FND | Buy | Floor & Decor Holdings | $9,715,000 | +22.3% | 189,930 | +0.2% | 0.32% | +21.2% |
| CSV | Sell | Carriage Services Inc. | $8,915,000 | +5.6% | 436,149 | -1.8% | 0.29% | +4.6% |
| FRPH | Buy | FRP Holdings, Inc. | $8,874,000 | -13.4% | 184,796 | +0.6% | 0.29% | -14.1% |
| CNXN | Buy | PC Connection, Inc. | $8,205,000 | +11.4% | 210,935 | +0.1% | 0.27% | +10.6% |
| HCSG | Buy | Healthcare Services Group, Inc | $7,787,000 | +14.3% | 320,565 | +42.6% | 0.26% | +13.7% |
| CWST | Sell | Casella Waste System Inc. | $7,770,000 | +6.6% | 180,942 | -1.6% | 0.26% | +5.8% |
| FELE | Buy | Franklin Electric Co., Inc. | $7,740,000 | +1.9% | 161,895 | +1.2% | 0.26% | +0.8% |
| BOMN | Buy | Boston Omaha Corporation | $6,154,000 | +34.5% | 310,322 | +57.0% | 0.20% | +33.6% |
| FHB | Buy | First Hawaiian Inc. | $5,598,000 | +7.7% | 209,681 | +4.3% | 0.18% | +6.9% |
| ROP | Buy | Roper Industries Inc. | $3,578,000 | +21.6% | 10,035 | +24.9% | 0.12% | +20.4% |
| HOMB | Sell | Home BancShares, Inc. | $3,087,000 | -3.6% | 164,258 | -1.2% | 0.10% | -3.8% |
| DHIL | Sell | Diamond Hill Investment Group, | $3,034,000 | -67.5% | 21,964 | -66.6% | 0.10% | -67.7% |
| XOM | Sell | Exxon Mobil Corporation | $1,851,000 | -8.7% | 26,219 | -0.9% | 0.06% | -9.0% |
| IBM | Sell | International Business Machine | $1,127,000 | -6.6% | 7,751 | -11.4% | 0.04% | -7.5% |
| AAPL | Sell | Apple Inc | $988,000 | +13.0% | 4,412 | -0.0% | 0.03% | +13.8% |
| TCF | New | TCF Financial Corp. | $597,000 | – | 15,675 | – | 0.02% | – |
| CVET | Sell | Covetrus, Inc. | $467,000 | -91.1% | 39,268 | -81.8% | 0.02% | -91.4% |
| GE | Buy | General Electric Company | $381,000 | -14.8% | 42,625 | +0.2% | 0.01% | -13.3% |
| VZ | Sell | Verizon Communications, Inc. | $254,000 | +1.2% | 4,202 | -4.5% | 0.01% | 0.0% |
| New | Bank Of Richmondville | $201,000 | – | 1,000 | – | 0.01% | – | |
| UPS | New | United Parcel Service Inc. | $209,000 | – | 1,741 | – | 0.01% | – |
| DIS | Sell | Disney Walt Co | $224,000 | -12.8% | 1,718 | -6.5% | 0.01% | -22.2% |
| KO | Sell | Coca Cola Company | $207,000 | -4.6% | 3,799 | -11.0% | 0.01% | 0.0% |
| UTX | New | United Technologies Corp. | $205,000 | – | 1,503 | – | 0.01% | – |
| ITOT | Exit | iShares Core S&P Total US Stocetf | $0 | – | -3,242 | – | -0.01% | – |
| CMI | Exit | Cummins Inc | $0 | – | -1,200 | – | -0.01% | – |
| INTC | Exit | Intel Corp | $0 | – | -4,696 | – | -0.01% | – |
| CVX | Exit | Chevron Corporation | $0 | – | -2,095 | – | -0.01% | – |
| CHFC | Exit | Chemical Financial Corp | $0 | – | -15,675 | – | -0.02% | – |
| IFF | Exit | International Flavors and Frag | $0 | – | -46,815 | – | -0.23% | – |
Q2 2019
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CDW | New | CDW Corporation | $202,242,000 | – | 1,821,996 | – | 6.72% | – |
| ROST | New | Ross Stores, Inc. | $155,478,000 | – | 1,568,587 | – | 5.17% | – |
| IEX | New | IDEX Corporation | $122,591,000 | – | 712,159 | – | 4.07% | – |
| SYK | New | Stryker Corporation | $103,515,000 | – | 503,528 | – | 3.44% | – |
| MKL | New | Markel Corporation | $99,920,000 | – | 91,703 | – | 3.32% | – |
| BRO | New | Brown & Brown, Inc. | $99,494,000 | – | 2,969,981 | – | 3.31% | – |
| BAM | New | Brookfield Asset Management In | $98,121,000 | – | 2,053,609 | – | 3.26% | – |
| APD | New | Air Products & Chemicals, Inc. | $95,126,000 | – | 420,222 | – | 3.16% | – |
| KMX | New | CarMax, Inc. | $88,477,000 | – | 1,018,968 | – | 2.94% | – |
| EOG | New | EOG Resources, Inc. | $82,277,000 | – | 883,178 | – | 2.73% | – |
| FLIR | New | FLIR Systems, Inc. | $77,876,000 | – | 1,439,487 | – | 2.59% | – |
| MTB | New | M&T Bank Corporation | $71,690,000 | – | 421,532 | – | 2.38% | – |
| AVY | New | Avery Dennison Corp | $69,716,000 | – | 602,666 | – | 2.32% | – |
| MCHP | New | Microchip Technology Incorpora | $67,070,000 | – | 773,587 | – | 2.23% | – |
| ITW | New | Illinois Tool Works Inc. | $66,605,000 | – | 441,650 | – | 2.21% | – |
| SSB | New | South State Corporation | $66,121,000 | – | 897,525 | – | 2.20% | – |
| BRKA | New | Berkshire Hathaway Inc. A | $63,988,000 | – | 201 | – | 2.13% | – |
| DCI | New | Donaldson Company, Inc. | $62,041,000 | – | 1,219,845 | – | 2.06% | – |
| AZO | New | AutoZone, Inc. | $55,914,000 | – | 50,855 | – | 1.86% | – |
| MHK | New | Mohawk Industries, Inc. | $55,695,000 | – | 377,669 | – | 1.85% | – |
| SNA | New | Snap On Inc. | $54,603,000 | – | 329,650 | – | 1.81% | – |
| WAT | New | Waters Corporation | $53,843,000 | – | 250,154 | – | 1.79% | – |
| AJG | New | Arthur J. Gallagher & Co. | $51,226,000 | – | 584,844 | – | 1.70% | – |
| IR | New | Ingersoll-Rand, PLC | $51,153,000 | – | 403,829 | – | 1.70% | – |
| GGG | New | Graco Inc. | $50,235,000 | – | 1,001,101 | – | 1.67% | – |
| MAR | New | Marriott Intl Inc New Cl A | $47,917,000 | – | 341,554 | – | 1.59% | – |
| DG | New | Dollar General Corporation | $47,445,000 | – | 351,027 | – | 1.58% | – |
| LSTR | New | Landstar System, Inc. | $43,184,000 | – | 399,887 | – | 1.44% | – |
| TROW | New | T Rowe Price Group, Inc. | $42,649,000 | – | 388,743 | – | 1.42% | – |
| HSIC | New | Henry Schein, Inc. | $37,672,000 | – | 538,946 | – | 1.25% | – |
| BKI | New | Black Knight | $35,527,000 | – | 590,642 | – | 1.18% | – |
| PNFP | New | Pinnacle Financial Partners, I | $31,719,000 | – | 551,833 | – | 1.05% | – |
| XLNX | New | Xilinx, Inc. | $31,522,000 | – | 267,320 | – | 1.05% | – |
| BRKB | New | Berkshire Hathaway Inc. B | $31,271,000 | – | 146,694 | – | 1.04% | – |
| BR | New | Broadridge Financial Solutions | $30,922,000 | – | 242,182 | – | 1.03% | – |
| WTR | New | Aqua America, Inc. | $27,364,000 | – | 661,444 | – | 0.91% | – |
| YUM | New | YUM! Brands, Inc. | $27,181,000 | – | 245,600 | – | 0.90% | – |
| DLR | New | Digital Realty Trust, Inc. | $25,002,000 | – | 212,258 | – | 0.83% | – |
| WTM | New | White Mountains Insurance Grou | $22,729,000 | – | 22,251 | – | 0.76% | – |
| MNRO | New | Monro Inc. | $21,916,000 | – | 256,925 | – | 0.73% | – |
| FBHS | New | Fortune Brands Home & Sec Inc | $20,718,000 | – | 362,647 | – | 0.69% | – |
| TWNK | New | Hostess Brands Inc. | $20,260,000 | – | 1,403,020 | – | 0.67% | – |
| ENTG | New | Entegris, Inc. | $20,036,000 | – | 536,880 | – | 0.67% | – |
| PAG | New | Penske Automotive Group Inc. | $18,846,000 | – | 398,445 | – | 0.63% | – |
| FTDR | New | Frontdoor, Inc. | $15,883,000 | – | 364,705 | – | 0.53% | – |
| CHH | New | Choice Hotels International, I | $15,787,000 | – | 181,435 | – | 0.52% | – |
| RHI | New | Robert Half Intl. Inc. | $15,648,000 | – | 274,476 | – | 0.52% | – |
| THR | New | Thermon Group Holdings, Inc. | $13,904,000 | – | 542,084 | – | 0.46% | – |
| RSG | New | Republic Services, Inc. | $13,687,000 | – | 157,979 | – | 0.46% | – |
| FAST | New | Fastenal Co | $13,412,000 | – | 411,528 | – | 0.45% | – |
| ECOL | New | US Ecology, Inc. | $12,686,000 | – | 213,066 | – | 0.42% | – |
| THG | New | The Hanover Group | $12,322,000 | – | 96,040 | – | 0.41% | – |
| EXLS | New | Exlservice Holdings Inc. | $12,266,000 | – | 185,480 | – | 0.41% | – |
| MKC | New | McCormick & Company | $11,826,000 | – | 76,292 | – | 0.39% | – |
| CBZ | New | CBIZ, Inc. | $11,560,000 | – | 590,085 | – | 0.38% | – |
| CIGI | New | Colliers International Group I | $11,456,000 | – | 159,960 | – | 0.38% | – |
| ANGO | New | Angiodynamics, Inc. | $11,245,000 | – | 571,100 | – | 0.37% | – |
| NTUS | New | Natus Medical Inc. | $11,173,000 | – | 434,900 | – | 0.37% | – |
| G | New | Genpact | $10,741,000 | – | 282,000 | – | 0.36% | – |
| MTDR | New | Matador Resources Company | $10,498,000 | – | 528,072 | – | 0.35% | – |
| FRPH | New | FRP Holdings, Inc. | $10,248,000 | – | 183,751 | – | 0.34% | – |
| WSO | New | Watsco, Inc. | $9,957,000 | – | 60,887 | – | 0.33% | – |
| CSFL | New | CenterState Bank Corporation | $9,906,000 | – | 430,122 | – | 0.33% | – |
| HALL | New | Hallmark Financial Services, I | $9,433,000 | – | 662,907 | – | 0.31% | – |
| DHIL | New | Diamond Hill Investment Group, | $9,328,000 | – | 65,823 | – | 0.31% | – |
| CSV | New | Carriage Services Inc. | $8,443,000 | – | 444,134 | – | 0.28% | – |
| FND | New | Floor & Decor Holdings | $7,944,000 | – | 189,605 | – | 0.26% | – |
| FELE | New | Franklin Electric Co., Inc. | $7,599,000 | – | 159,970 | – | 0.25% | – |
| CNXN | New | PC Connection, Inc. | $7,368,000 | – | 210,635 | – | 0.24% | – |
| CWST | New | Casella Waste System Inc. | $7,290,000 | – | 183,942 | – | 0.24% | – |
| IFF | New | International Flavors and Frag | $6,792,000 | – | 46,815 | – | 0.23% | – |
| HCSG | New | Healthcare Services Group, Inc | $6,815,000 | – | 224,775 | – | 0.23% | – |
| MDU | New | MDU Resources Group, Inc. | $6,503,000 | – | 252,053 | – | 0.22% | – |
| CVET | New | Covetrus, Inc. | $5,263,000 | – | 215,177 | – | 0.18% | – |
| FHB | New | First Hawaiian Inc. | $5,199,000 | – | 200,966 | – | 0.17% | – |
| NATI | New | National Instruments | $5,123,000 | – | 122,000 | – | 0.17% | – |
| BOMN | New | Boston Omaha Corporation | $4,575,000 | – | 197,609 | – | 0.15% | – |
| HOMB | New | Home BancShares, Inc. | $3,201,000 | – | 166,209 | – | 0.11% | – |
| ROP | New | Roper Industries Inc. | $2,943,000 | – | 8,035 | – | 0.10% | – |
| XOM | New | Exxon Mobil Corporation | $2,027,000 | – | 26,446 | – | 0.07% | – |
| AGN | New | Allergan PLC | $1,406,000 | – | 8,400 | – | 0.05% | – |
| NBTB | New | NBT Bancorp Inc | $1,315,000 | – | 35,054 | – | 0.04% | – |
| IBM | New | International Business Machine | $1,206,000 | – | 8,747 | – | 0.04% | – |
| VUG | New | Vanguard Growthetf | $1,075,000 | – | 6,581 | – | 0.04% | – |
| XLY | New | Select Sector Spdr Tr Sbi Consetf | $1,048,000 | – | 8,791 | – | 0.04% | – |
| AAPL | New | Apple Inc | $874,000 | – | 4,414 | – | 0.03% | – |
| MSFT | New | Microsoft Corp | $812,000 | – | 6,058 | – | 0.03% | – |
| PWB | New | Powershares Dynamic Large Capetf | $822,000 | – | 17,000 | – | 0.03% | – |
| XBI | New | Spdr Series Trust S&P Biotech | $794,000 | – | 9,050 | – | 0.03% | – |
| KRE | New | Spdr S&P Regional Banking Etfetf | $668,000 | – | 12,500 | – | 0.02% | – |
| CHFC | New | Chemical Financial Corp | $644,000 | – | 15,675 | – | 0.02% | – |
| New | Nestle Sa Ord F | $601,000 | – | 5,800 | – | 0.02% | – | |
| CNMD | New | Conmed Corp | $606,000 | – | 7,087 | – | 0.02% | – |
| MRK | New | Merck & Co Inc New | $616,000 | – | 7,345 | – | 0.02% | – |
| CBU | New | Community Bank System | $533,000 | – | 8,098 | – | 0.02% | – |
| PG | New | Procter & Gamble | $523,000 | – | 4,767 | – | 0.02% | – |
| SPY | New | Spdr S&P 500 ETF Trustetf | $452,000 | – | 1,542 | – | 0.02% | – |
| PFE | New | Pfizer Incorporated | $462,000 | – | 10,659 | – | 0.02% | – |
| GE | New | General Electric Company | $447,000 | – | 42,526 | – | 0.02% | – |
| USB | New | US Bancorp | $384,000 | – | 7,331 | – | 0.01% | – |
| GLNV | New | Glenville Bank Hldg Co | $399,000 | – | 4,006 | – | 0.01% | – |
| ADP | New | Auto Data Processing | $375,000 | – | 2,270 | – | 0.01% | – |
| FANG | New | Diamond Back Energy Inc. | $347,000 | – | 3,182 | – | 0.01% | – |
| AMGN | New | Amgen Incorporated | $320,000 | – | 1,737 | – | 0.01% | – |
| T | New | AT&T, Inc. | $320,000 | – | 9,555 | – | 0.01% | – |
| PEG | New | Pub Svc Ent Group Inc | $288,000 | – | 4,901 | – | 0.01% | – |
| UNP | New | Union Pacific Corp. | $275,000 | – | 1,629 | – | 0.01% | – |
| DIS | New | Disney Walt Co | $257,000 | – | 1,838 | – | 0.01% | – |
| CVX | New | Chevron Corporation | $261,000 | – | 2,095 | – | 0.01% | – |
| VZ | New | Verizon Communications, Inc. | $251,000 | – | 4,402 | – | 0.01% | – |
| IPG | New | Interpublic Group of Companies | $237,000 | – | 10,500 | – | 0.01% | – |
| CASY | New | Caseys Gen Stores Inc | $234,000 | – | 1,500 | – | 0.01% | – |
| KO | New | Coca Cola Company | $217,000 | – | 4,267 | – | 0.01% | – |
| VYM | New | Vanguard Whitehall Funds Highetf | $201,000 | – | 2,300 | – | 0.01% | – |
| AWK | New | American Wtr Wks | $205,000 | – | 1,766 | – | 0.01% | – |
| INTC | New | Intel Corp | $225,000 | – | 4,696 | – | 0.01% | – |
| CMI | New | Cummins Inc | $206,000 | – | 1,200 | – | 0.01% | – |
| ITOT | New | iShares Core S&P Total US Stocetf | $216,000 | – | 3,242 | – | 0.01% | – |
| CKPT | New | Checkpoint Therapeutics Inc. | $98,000 | – | 32,400 | – | 0.00% | – |
| MBIO | New | Mustang Bio Inc. | $55,000 | – | 15,000 | – | 0.00% | – |
| HAIR | New | Restoration Robotics Inc | $18,000 | – | 30,000 | – | 0.00% | – |
| NLNK | New | Newlink Genetics Corp | $18,000 | – | 12,321 | – | 0.00% | – |
Q4 2018
Q3 2018
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CDW | Sell | CDW Corporation | $165,409,000 | +9.7% | 1,860,198 | -0.3% | 5.81% | +2.1% |
| ROST | Sell | Ross Stores, Inc. | $149,813,000 | +16.8% | 1,511,739 | -0.1% | 5.26% | +8.7% |
| IEX | Sell | IDEX Corporation | $106,233,000 | +10.1% | 705,115 | -0.3% | 3.73% | +2.4% |
| MKL | Sell | Markel Corporation | $99,748,000 | +9.4% | 83,928 | -0.2% | 3.50% | +1.8% |
| BAM | Buy | Brookfield Asset Management In | $90,330,000 | +10.1% | 2,028,526 | +0.3% | 3.17% | +2.5% |
| EOG | Sell | EOG Resources, Inc. | $88,738,000 | +2.5% | 695,606 | -0.0% | 3.12% | -4.6% |
| SYK | Sell | Stryker Corporation | $87,843,000 | +4.6% | 494,388 | -0.6% | 3.08% | -2.7% |
| BRO | Sell | Brown & Brown, Inc. | $82,919,000 | +6.4% | 2,804,171 | -0.2% | 2.91% | -1.0% |
| AZO | Sell | AutoZone, Inc. | $77,273,000 | +15.5% | 99,617 | -0.1% | 2.71% | +7.4% |
| IPG | Sell | Interpublic Group of Companies | $76,878,000 | -3.0% | 3,361,517 | -0.6% | 2.70% | -9.7% |
| MCHP | Buy | Microchip Technology Incorpora | $72,343,000 | -12.4% | 916,781 | +1.0% | 2.54% | -18.5% |
| KMX | Sell | CarMax, Inc. | $70,112,000 | +2.4% | 938,952 | -0.1% | 2.46% | -4.8% |
| DCI | Sell | Donaldson Company, Inc. | $68,106,000 | +29.0% | 1,169,003 | -0.1% | 2.39% | +20.1% |
| FLIR | Sell | FLIR Systems, Inc. | $68,025,000 | +17.9% | 1,106,633 | -0.3% | 2.39% | +9.7% |
| APD | Buy | Air Products & Chemicals, Inc. | $61,833,000 | +8.7% | 370,148 | +1.4% | 2.17% | +1.2% |
| MTB | Buy | M&T Bank Corporation | $61,100,000 | +0.2% | 371,336 | +3.7% | 2.15% | -6.7% |
| FCEA | Sell | Forest City Realty Trust, Inc. | $60,825,000 | +8.2% | 2,424,274 | -1.6% | 2.14% | +0.7% |
| WAT | Sell | Waters Corporation | $56,094,000 | +0.4% | 288,133 | -0.2% | 1.97% | -6.6% |
| ITW | Buy | Illinois Tool Works Inc. | $52,272,000 | +6.7% | 370,410 | +4.8% | 1.84% | -0.7% |
| MHK | Buy | Mohawk Industries, Inc. | $51,830,000 | +21.6% | 295,581 | +48.6% | 1.82% | +13.2% |
| SSB | Buy | South State Corporation | $50,631,000 | +2.8% | 617,456 | +8.2% | 1.78% | -4.4% |
| SNA | Buy | Snap On Inc. | $48,134,000 | +14.9% | 262,169 | +0.6% | 1.69% | +6.9% |
| XLNX | Sell | Xilinx, Inc. | $47,861,000 | +21.7% | 596,997 | -0.9% | 1.68% | +13.3% |
| HSIC | Sell | Henry Schein, Inc. | $46,817,000 | +16.8% | 550,596 | -0.2% | 1.64% | +8.7% |
| GGG | Sell | Graco Inc. | $43,760,000 | +1.9% | 944,321 | -0.6% | 1.54% | -5.2% |
| TROW | Sell | T Rowe Price Group, Inc. | $42,676,000 | -6.1% | 390,873 | -0.2% | 1.50% | -12.6% |
| FWRD | Sell | Forward Air Corporation | $42,320,000 | +21.3% | 590,236 | -0.0% | 1.49% | +12.8% |
| AJG | Sell | Arthur J. Gallagher & Co. | $41,294,000 | +13.9% | 554,729 | -0.1% | 1.45% | +6.0% |
| DG | Buy | Dollar General Corporation | $39,106,000 | +11.0% | 357,785 | +0.1% | 1.37% | +3.2% |
| MAR | Sell | Marriott Intl Inc New Cl A | $37,354,000 | +4.0% | 282,923 | -0.2% | 1.31% | -3.2% |
| LSTR | Sell | Landstar System, Inc. | $34,668,000 | +11.6% | 284,165 | -0.1% | 1.22% | +3.8% |
| IR | Buy | Ingersoll-Rand, PLC | $33,977,000 | +23.9% | 332,136 | +8.7% | 1.19% | +15.3% |
| ECOL | Sell | US Ecology, Inc. | $32,309,000 | +11.0% | 438,082 | -4.1% | 1.14% | +3.3% |
| MD | Sell | MEDNAX, Inc. | $31,744,000 | +7.3% | 680,317 | -0.5% | 1.12% | -0.2% |
| BRKB | Sell | Berkshire Hathaway Inc. B | $30,198,000 | +13.9% | 141,039 | -0.7% | 1.06% | +6.0% |
| PNFP | Buy | Pinnacle Financial Partners, I | $27,582,000 | +26.5% | 458,554 | +29.0% | 0.97% | +17.7% |
| WTR | Sell | Aqua America, Inc. | $25,271,000 | +4.4% | 684,840 | -0.4% | 0.89% | -2.7% |
| BKI | Sell | Black Knight | $25,168,000 | -3.1% | 484,475 | -0.1% | 0.88% | -9.8% |
| WTM | Sell | White Mountains Insurance Grou | $22,487,000 | -7.8% | 24,028 | -10.7% | 0.79% | -14.2% |
| PAG | Buy | Penske Automotive Group Inc. | $19,170,000 | +3.7% | 404,521 | +2.5% | 0.67% | -3.6% |
| MNRO | Sell | Monro Inc. | $18,907,000 | +16.8% | 271,650 | -2.5% | 0.66% | +8.7% |
| RHI | Sell | Robert Half Intl. Inc. | $18,669,000 | +8.0% | 265,266 | -0.1% | 0.66% | +0.6% |
| DLR | Sell | Digital Realty Trust, Inc. | $15,219,000 | +0.8% | 135,303 | -0.0% | 0.54% | -6.1% |
| CHH | Buy | Choice Hotels International, I | $14,965,000 | +10.4% | 179,655 | +0.2% | 0.53% | +2.7% |
| NTUS | Buy | Natus Medical Inc. | $13,980,000 | +24.2% | 392,145 | +20.2% | 0.49% | +15.5% |
| THR | Buy | Thermon Group Holdings, Inc. | $13,972,000 | +12.9% | 541,985 | +0.2% | 0.49% | +5.1% |
| AVY | Buy | Avery Dennison Corp | $13,413,000 | +19.4% | 123,795 | +12.5% | 0.47% | +11.1% |
| TWNK | Buy | Hostess Brands Inc. | $13,226,000 | +13.8% | 1,194,721 | +39.8% | 0.46% | +5.9% |
| ANGO | Buy | Angiodynamics, Inc. | $12,357,000 | -2.1% | 568,400 | +0.2% | 0.43% | -8.8% |
| EXLS | Buy | Exlservice Holdings Inc. | $12,292,000 | +17.3% | 185,680 | +0.3% | 0.43% | +9.1% |
| DHIL | Buy | Diamond Hill Investment Group, | $12,278,000 | +2.5% | 74,239 | +20.5% | 0.43% | -4.6% |
| CBZ | Sell | CBIZ, Inc. | $12,104,000 | -2.7% | 510,730 | -5.5% | 0.42% | -9.4% |
| BEN | Sell | Franklin Resources, Inc. | $12,067,000 | -6.0% | 396,816 | -0.9% | 0.42% | -12.4% |
| SONC | Sell | Sonic Corp. | $11,929,000 | -59.0% | 275,242 | -67.4% | 0.42% | -61.9% |
| SCSC | Sell | Scansource, Inc. | $11,722,000 | -7.7% | 293,780 | -6.8% | 0.41% | -14.2% |
| RSG | Buy | Republic Services, Inc. | $11,688,000 | +7.4% | 160,864 | +1.1% | 0.41% | 0.0% |
| LABL | Buy | Multi-Color Corp | $11,641,000 | +12.7% | 187,005 | +17.0% | 0.41% | +4.9% |
| CNXN | Sell | PC Connection, Inc. | $11,033,000 | -1.0% | 283,690 | -15.5% | 0.39% | -8.1% |
| NCOM | Buy | National Commerce Corporation | $10,680,000 | -10.5% | 258,585 | +0.3% | 0.38% | -16.7% |
| MTDR | Buy | Matador Resources Company | $10,033,000 | +12.3% | 303,585 | +2.1% | 0.35% | +4.5% |
| CSV | Buy | Carriage Services Inc. | $9,982,000 | +13.2% | 463,187 | +28.9% | 0.35% | +5.4% |
| MKC | Buy | McCormick & Company | $9,720,000 | +14.8% | 73,774 | +1.2% | 0.34% | +6.6% |
| VSM | Buy | Versum Materials Inc. | $9,106,000 | +0.0% | 252,887 | +3.2% | 0.32% | -7.0% |
| FRPH | Sell | FRP Holdings, Inc. | $9,124,000 | -8.5% | 146,922 | -4.6% | 0.32% | -14.9% |
| CIGI | Buy | Colliers International Group I | $8,867,000 | +17.8% | 114,345 | +15.0% | 0.31% | +9.5% |
| HALL | Buy | Hallmark Financial Services, I | $7,522,000 | +10.9% | 683,863 | +0.6% | 0.26% | +3.1% |
| MDU | Sell | MDU Resources Group, Inc. | $6,569,000 | -10.6% | 255,703 | -0.2% | 0.23% | -16.6% |
| CWST | Sell | Casella Waste System Inc. | $6,024,000 | +20.2% | 193,942 | -0.9% | 0.21% | +12.2% |
| BOMN | Buy | Boston Omaha Corporation | $5,464,000 | +48.2% | 182,740 | +4.4% | 0.19% | +38.1% |
| IFF | New | International Flavors and Frag | $4,409,000 | – | 31,690 | – | 0.16% | – |
| HOMB | Sell | Home BancShares, Inc. | $3,697,000 | -3.0% | 168,809 | -0.0% | 0.13% | -9.7% |
| WSO | New | Watsco, Inc. | $2,493,000 | – | 14,000 | – | 0.09% | – |
| BANX | Sell | StoneCastle Financial Corp. | $2,265,000 | -39.6% | 101,046 | -38.3% | 0.08% | -43.7% |
| XOM | Sell | Exxon Mobil Corporation | $2,251,000 | +2.6% | 26,477 | -0.1% | 0.08% | -4.8% |
| AGN | Buy | Allergan PLC | $1,606,000 | +14.3% | 8,430 | +0.1% | 0.06% | +5.7% |
| NBTB | Sell | NBT Bancorp Inc | $1,385,000 | -3.6% | 36,091 | -4.1% | 0.05% | -9.3% |
| IBM | Sell | International Business Machine | $1,323,000 | +2.5% | 8,747 | -5.3% | 0.05% | -6.1% |
| XLY | Buy | Select Sector Spdr Tr Sbi Consetf | $1,015,000 | +7.5% | 8,656 | +0.2% | 0.04% | 0.0% |
| AAPL | Buy | Apple Inc | $954,000 | +22.8% | 4,225 | +0.7% | 0.03% | +17.2% |
| PFE | Sell | Pfizer Incorporated | $491,000 | +19.2% | 11,150 | -1.8% | 0.02% | +6.2% |
| SPY | Buy | Spdr S&P 500 ETF Trustetf | $473,000 | +8.2% | 1,627 | +0.9% | 0.02% | +6.2% |
| GE | Sell | General Electric Company | $418,000 | -27.1% | 37,066 | -11.9% | 0.02% | -31.8% |
| T | Sell | AT&T Inc New | $278,000 | -4.8% | 8,293 | -8.7% | 0.01% | -9.1% |
| LQD | Buy | Ishares Iboxx Investop Iboxx $etf | $277,000 | +0.7% | 2,411 | +0.5% | 0.01% | 0.0% |
| UNP | Buy | Union Pacific Corp | $277,000 | +17.4% | 1,704 | +2.1% | 0.01% | +11.1% |
| CVX | Buy | Chevron Corporation | $262,000 | -3.3% | 2,141 | +0.0% | 0.01% | -10.0% |
| CSX | New | Csx Corp | $220,000 | – | 2,965 | – | 0.01% | – |
| UTX | New | United Technologies Corp | $221,000 | – | 1,584 | – | 0.01% | – |
| DIS | New | Disney Walt Co | $215,000 | – | 1,838 | – | 0.01% | – |
| VZ | Sell | Verizon Communications | $201,000 | -14.1% | 3,763 | -19.2% | 0.01% | -22.2% |
| PDCO | Exit | Patterson Companies, Inc. | $0 | – | -92,441 | – | -0.08% | – |
| CTO | Exit | Consolidated-Tomoka Land Co. | $0 | – | -105,542 | – | -0.24% | – |
Q2 2018
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CDW | New | CDW Corporation | $150,748,000 | – | 1,865,927 | – | 5.69% | – |
| ROST | New | Ross Stores, Inc. | $128,259,000 | – | 1,513,380 | – | 4.84% | – |
| IEX | New | IDEX Corporation | $96,508,000 | – | 707,125 | – | 3.64% | – |
| MKL | New | Markel Corporation | $91,156,000 | – | 84,065 | – | 3.44% | – |
| EOG | New | EOG Resources, Inc. | $86,564,000 | – | 695,682 | – | 3.27% | – |
| SYK | New | Stryker Corporation | $83,973,000 | – | 497,296 | – | 3.17% | – |
| MCHP | New | Microchip Technology Incorpora | $82,575,000 | – | 907,913 | – | 3.12% | – |
| BAM | New | Brookfield Asset Management In | $82,023,000 | – | 2,023,262 | – | 3.10% | – |
| IPG | New | Interpublic Group of Companies | $79,236,000 | – | 3,380,364 | – | 2.99% | – |
| BRO | New | Brown & Brown, Inc. | $77,947,000 | – | 2,810,938 | – | 2.94% | – |
| KMX | New | CarMax, Inc. | $68,478,000 | – | 939,732 | – | 2.58% | – |
| AZO | New | AutoZone, Inc. | $66,915,000 | – | 99,735 | – | 2.53% | – |
| MTB | New | M&T Bank Corporation | $60,950,000 | – | 358,215 | – | 2.30% | – |
| FLIR | New | FLIR Systems, Inc. | $57,697,000 | – | 1,110,207 | – | 2.18% | – |
| APD | New | Air Products & Chemicals, Inc. | $56,860,000 | – | 365,117 | – | 2.15% | – |
| BRKA | New | Berkshire Hathaway Inc. A | $56,690,000 | – | 201 | – | 2.14% | – |
| FCEA | New | Forest City Realty Trust, Inc. | $56,192,000 | – | 2,463,497 | – | 2.12% | – |
| WAT | New | Waters Corporation | $55,888,000 | – | 288,695 | – | 2.11% | – |
| DCI | New | Donaldson Company, Inc. | $52,779,000 | – | 1,169,753 | – | 1.99% | – |
| SSB | New | South State Corporation | $49,233,000 | – | 570,817 | – | 1.86% | – |
| ITW | New | Illinois Tool Works Inc. | $48,989,000 | – | 353,608 | – | 1.85% | – |
| TROW | New | T Rowe Price Group, Inc. | $45,455,000 | – | 391,550 | – | 1.72% | – |
| GGG | New | Graco Inc. | $42,940,000 | – | 949,581 | – | 1.62% | – |
| MHK | New | Mohawk Industries, Inc. | $42,609,000 | – | 198,856 | – | 1.61% | – |
| SNA | New | Snap On Inc. | $41,903,000 | – | 260,721 | – | 1.58% | – |
| HSIC | New | Henry Schein, Inc. | $40,078,000 | – | 551,737 | – | 1.51% | – |
| XLNX | New | Xilinx, Inc. | $39,318,000 | – | 602,483 | – | 1.48% | – |
| AJG | New | Arthur J. Gallagher & Co. | $36,248,000 | – | 555,264 | – | 1.37% | – |
| MAR | New | Marriott Intl Inc New Cl A | $35,901,000 | – | 283,579 | – | 1.36% | – |
| DG | New | Dollar General Corporation | $35,242,000 | – | 357,424 | – | 1.33% | – |
| FWRD | New | Forward Air Corporation | $34,888,000 | – | 590,513 | – | 1.32% | – |
| LSTR | New | Landstar System, Inc. | $31,075,000 | – | 284,566 | – | 1.17% | – |
| MD | New | MEDNAX, Inc. | $29,582,000 | – | 683,499 | – | 1.12% | – |
| ECOL | New | US Ecology, Inc. | $29,101,000 | – | 456,852 | – | 1.10% | – |
| SONC | New | Sonic Corp. | $29,103,000 | – | 845,537 | – | 1.10% | – |
| IR | New | Ingersoll-Rand, PLC | $27,427,000 | – | 305,660 | – | 1.04% | – |
| BRKB | New | Berkshire Hathaway Inc. B | $26,519,000 | – | 142,079 | – | 1.00% | – |
| BKI | New | Black Knight | $25,969,000 | – | 484,942 | – | 0.98% | – |
| WTM | New | White Mountains Insurance Grou | $24,385,000 | – | 26,897 | – | 0.92% | – |
| WTR | New | Aqua America, Inc. | $24,199,000 | – | 687,870 | – | 0.91% | – |
| PNFP | New | Pinnacle Financial Partners, I | $21,812,000 | – | 355,536 | – | 0.82% | – |
| YUM | New | YUM! Brands, Inc. | $19,211,000 | – | 245,600 | – | 0.72% | – |
| PAG | New | Penske Automotive Group Inc. | $18,481,000 | – | 394,476 | – | 0.70% | – |
| RHI | New | Robert Half Intl. Inc. | $17,279,000 | – | 265,416 | – | 0.65% | – |
| MNRO | New | Monro Inc. | $16,194,000 | – | 278,725 | – | 0.61% | – |
| DLR | New | Digital Realty Trust, Inc. | $15,098,000 | – | 135,313 | – | 0.57% | – |
| CHH | New | Choice Hotels International, I | $13,553,000 | – | 179,270 | – | 0.51% | – |
| BEN | New | Franklin Resources, Inc. | $12,831,000 | – | 400,331 | – | 0.48% | – |
| SCSC | New | Scansource, Inc. | $12,704,000 | – | 315,245 | – | 0.48% | – |
| ANGO | New | Angiodynamics, Inc. | $12,616,000 | – | 567,270 | – | 0.48% | – |
| CBZ | New | CBIZ, Inc. | $12,435,000 | – | 540,635 | – | 0.47% | – |
| THR | New | Thermon Group Holdings, Inc. | $12,371,000 | – | 540,925 | – | 0.47% | – |
| DHIL | New | Diamond Hill Investment Group, | $11,982,000 | – | 61,626 | – | 0.45% | – |
| NCOM | New | National Commerce Corporation | $11,932,000 | – | 257,715 | – | 0.45% | – |
| TWNK | New | Hostess Brands Inc. | $11,624,000 | – | 854,713 | – | 0.44% | – |
| NTUS | New | Natus Medical Inc. | $11,259,000 | – | 326,350 | – | 0.42% | – |
| AVY | New | Avery Dennison Corp | $11,233,000 | – | 110,020 | – | 0.42% | – |
| CNXN | New | PC Connection, Inc. | $11,149,000 | – | 335,800 | – | 0.42% | – |
| RSG | New | Republic Services, Inc. | $10,879,000 | – | 159,144 | – | 0.41% | – |
| EXLS | New | Exlservice Holdings Inc. | $10,477,000 | – | 185,065 | – | 0.40% | – |
| LABL | New | Multi-Color Corp | $10,333,000 | – | 159,825 | – | 0.39% | – |
| FRPH | New | FRP Holdings, Inc. | $9,972,000 | – | 154,002 | – | 0.38% | – |
| VSM | New | Versum Materials Inc. | $9,103,000 | – | 245,037 | – | 0.34% | – |
| MTDR | New | Matador Resources Company | $8,934,000 | – | 297,300 | – | 0.34% | – |
| CSV | New | Carriage Services Inc. | $8,821,000 | – | 359,290 | – | 0.33% | – |
| MKC | New | McCormick & Company | $8,465,000 | – | 72,919 | – | 0.32% | – |
| CIGI | New | Colliers International Group I | $7,528,000 | – | 99,445 | – | 0.28% | – |
| MDU | New | MDU Resources Group, Inc. | $7,349,000 | – | 256,253 | – | 0.28% | – |
| FELE | New | Franklin Electric Co., Inc. | $7,212,000 | – | 159,920 | – | 0.27% | – |
| HALL | New | Hallmark Financial Services, I | $6,783,000 | – | 679,638 | – | 0.26% | – |
| CTO | New | Consolidated-Tomoka Land Co. | $6,492,000 | – | 105,542 | – | 0.24% | – |
| NATI | New | National Instruments | $5,122,000 | – | 122,000 | – | 0.19% | – |
| CWST | New | Casella Waste System Inc. | $5,011,000 | – | 195,677 | – | 0.19% | – |
| SYBT | New | Stock Yards Bancorp, Inc. | $4,053,000 | – | 106,244 | – | 0.15% | – |
| HOMB | New | Home BancShares, Inc. | $3,810,000 | – | 168,884 | – | 0.14% | – |
| BANX | New | StoneCastle Financial Corp. | $3,751,000 | – | 163,851 | – | 0.14% | – |
| BOMN | New | Boston Omaha Corporation | $3,688,000 | – | 175,040 | – | 0.14% | – |
| XOM | New | Exxon Mobil Corporation | $2,193,000 | – | 26,504 | – | 0.08% | – |
| PDCO | New | Patterson Companies, Inc. | $2,096,000 | – | 92,441 | – | 0.08% | – |
| ESGR | New | Enstar Group Ltd | $1,782,000 | – | 8,595 | – | 0.07% | – |
| NBTB | New | NBT Bancorp Inc | $1,436,000 | – | 37,632 | – | 0.05% | – |
| AGN | New | Allergan PLC | $1,405,000 | – | 8,425 | – | 0.05% | – |
| IBM | New | International Business Machine | $1,291,000 | – | 9,241 | – | 0.05% | – |
| WINA | New | Winmark Corporation | $1,077,000 | – | 7,257 | – | 0.04% | – |
| VUG | New | Vanguard Growthetf | $986,000 | – | 6,581 | – | 0.04% | – |
| XLY | New | Select Sector Spdr Tr Sbi Consetf | $944,000 | – | 8,636 | – | 0.04% | – |
| XBI | New | Spdr Series Trust S&P Biotech | $861,000 | – | 9,050 | – | 0.03% | – |
| CHFC | New | Chemical Financial Corp | $873,000 | – | 15,675 | – | 0.03% | – |
| AAPL | New | Apple Inc | $777,000 | – | 4,195 | – | 0.03% | – |
| KRE | New | Spdr S&P Regional Banking Etfetf | $763,000 | – | 12,500 | – | 0.03% | – |
| PWB | New | Powershares Dynamic Large Capetf | $765,000 | – | 17,000 | – | 0.03% | – |
| MSFT | New | Microsoft Corp | $632,000 | – | 6,413 | – | 0.02% | – |
| GE | New | General Electric Company | $573,000 | – | 42,093 | – | 0.02% | – |
| CNMD | New | Conmed Corp | $519,000 | – | 7,087 | – | 0.02% | – |
| CBU | New | Community Bank System | $478,000 | – | 8,098 | – | 0.02% | – |
| New | Nestle Sa Ord F | $450,000 | – | 5,800 | – | 0.02% | – | |
| MRK | New | Merck & Co Inc New | $451,000 | – | 7,433 | – | 0.02% | – |
| SPY | New | Spdr S&P 500 ETF Trustetf | $437,000 | – | 1,612 | – | 0.02% | – |
| PFE | New | Pfizer Incorporated | $412,000 | – | 11,350 | – | 0.02% | – |
| PG | New | Procter & Gamble | $373,000 | – | 4,782 | – | 0.01% | – |
| USB | New | US Bancorp | $367,000 | – | 7,331 | – | 0.01% | – |
| EGN | New | Energen Corp. | $360,000 | – | 4,941 | – | 0.01% | – |
| GLNV | New | Glenville Bank Hldg Co | $339,000 | – | 4,006 | – | 0.01% | – |
| ADP | New | Auto Data Processing | $325,000 | – | 2,420 | – | 0.01% | – |
| AMGN | New | Amgen Incorporated | $321,000 | – | 1,737 | – | 0.01% | – |
| T | New | AT&T Inc New | $292,000 | – | 9,088 | – | 0.01% | – |
| INTC | New | Intel Corp | $263,000 | – | 5,300 | – | 0.01% | – |
| CVX | New | Chevron Corporation | $271,000 | – | 2,140 | – | 0.01% | – |
| PEG | New | Pub Svc Ent Group Inc | $265,000 | – | 4,901 | – | 0.01% | – |
| LQD | New | Ishares Iboxx Investop Iboxx $etf | $275,000 | – | 2,398 | – | 0.01% | – |
| UNP | New | Union Pacific Corp | $236,000 | – | 1,669 | – | 0.01% | – |
| VZ | New | Verizon Communications | $234,000 | – | 4,657 | – | 0.01% | – |
| BP | New | Bp Plc Adr F Sponsored Adr 1 A | $249,000 | – | 5,448 | – | 0.01% | – |
| ETN | New | Eaton Corp PLC | $238,000 | – | 3,188 | – | 0.01% | – |
| CAT | New | Caterpillar Inc | $230,000 | – | 1,695 | – | 0.01% | – |
| NLNK | New | Newlink Genetics Corp | $59,000 | – | 12,321 | – | 0.00% | – |
Q4 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| SNAK | Exit | Inventure Foods, Inc. | $0 | – | -16,495 | – | -0.00% | – |
| KLDX | Exit | Klondex Mines LTD | $0 | – | -25,000 | – | -0.00% | – |
| NLNK | Exit | Newlink Genetics Corp | $0 | – | -12,321 | – | -0.01% | – |
| UPS | Exit | United Parcel Service B Class | $0 | – | -1,702 | – | -0.01% | – |
| CMI | Exit | Cummins Inc | $0 | – | -1,200 | – | -0.01% | – |
| CAT | Exit | Caterpillar Inc | $0 | – | -1,695 | – | -0.01% | – |
| PEG | Exit | Pub Svc Ent Group Inc | $0 | – | -4,901 | – | -0.01% | – |
| INTC | Exit | Intel Corp | $0 | – | -5,584 | – | -0.01% | – |
| VZ | Exit | Verizon Communications | $0 | – | -4,957 | – | -0.01% | – |
| ETN | Exit | Eaton Corp PLC | $0 | – | -3,155 | – | -0.01% | – |
| KEY | Exit | Keycorp New | $0 | – | -14,501 | – | -0.01% | – |
| ADP | Exit | Auto Data Processing | $0 | – | -2,420 | – | -0.01% | – |
| CVX | Exit | Chevron Corporation | $0 | – | -2,296 | – | -0.01% | – |
| EGN | Exit | Energen Corp. | $0 | – | -4,941 | – | -0.01% | – |
| LQD | Exit | Ishares Iboxx Investop Iboxx $etf | $0 | – | -2,365 | – | -0.01% | – |
| AMGN | Exit | Amgen Incorporated | $0 | – | -1,564 | – | -0.01% | – |
| GLNV | Exit | Glenville Bank Hldg Co | $0 | – | -4,006 | – | -0.01% | – |
| DWDP | Exit | DowDupont Inc. | $0 | – | -4,972 | – | -0.01% | – |
| CNMD | Exit | Conmed Corp | $0 | – | -7,087 | – | -0.02% | – |
| T | Exit | AT&T Inc New | $0 | – | -9,478 | – | -0.02% | – |
| UNP | Exit | Union Pacific Corp | $0 | – | -3,369 | – | -0.02% | – |
| USB | Exit | US Bancorp | $0 | – | -7,331 | – | -0.02% | – |
| PFE | Exit | Pfizer Incorporated | $0 | – | -11,995 | – | -0.02% | – |
| CBU | Exit | Community Bank System | $0 | – | -8,098 | – | -0.02% | – |
| MRK | Exit | Merck & Co Inc New | $0 | – | -7,783 | – | -0.02% | – |
| Exit | Nestle Sa Ord F | $0 | – | -5,800 | – | -0.02% | – | |
| PG | Exit | Procter & Gamble | $0 | – | -5,686 | – | -0.02% | – |
| MSFT | Exit | Microsoft Corp | $0 | – | -7,635 | – | -0.02% | – |
| AAPL | Exit | Apple Inc | $0 | – | -4,966 | – | -0.03% | – |
| CHFC | Exit | Chemical Financial Corp | $0 | – | -15,675 | – | -0.03% | – |
| GE | Exit | General Electric Company | $0 | – | -46,058 | – | -0.04% | – |
| NBTB | Exit | NBT Bancorp Inc | $0 | – | -37,632 | – | -0.06% | – |
| IBM | Exit | International Business Machine | $0 | – | -9,820 | – | -0.06% | – |
| AGN | Exit | Allergan PLC | $0 | – | -8,420 | – | -0.07% | – |
| ESGR | Exit | Enstar Group Ltd | $0 | – | -8,595 | – | -0.08% | – |
| SPY | Exit | Spdr S&P 500 ETF Trustetf | $0 | – | -8,104 | – | -0.08% | – |
| XOM | Exit | Exxon Mobil Corporation | $0 | – | -26,584 | – | -0.09% | – |
| CWST | Exit | Casella Waste System Inc. | $0 | – | -195,677 | – | -0.15% | – |
| MKC | Exit | McCormick & Company | $0 | – | -36,805 | – | -0.15% | – |
| SYBT | Exit | Stock Yards Bancorp, Inc. | $0 | – | -106,437 | – | -0.16% | – |
| HOMB | Exit | Home BancShares, Inc. | $0 | – | -169,869 | – | -0.17% | – |
| BANX | Exit | StoneCastle Financial Corp. | $0 | – | -242,371 | – | -0.20% | – |
| NATI | Exit | National Instruments | $0 | – | -122,000 | – | -0.21% | – |
| EPM | Exit | Evolution Petroleum Corporatio | $0 | – | -830,200 | – | -0.24% | – |
| MDU | Exit | MDU Resources Group, Inc. | $0 | – | -257,353 | – | -0.27% | – |
| FRPH | Exit | FRP Holdings, Inc. | $0 | – | -154,797 | – | -0.28% | – |
| MG | Exit | Mistras Group, Inc. | $0 | – | -346,125 | – | -0.28% | – |
| FELE | Exit | Franklin Electric Co., Inc. | $0 | – | -159,920 | – | -0.29% | – |
| CSV | Exit | Carriage Services Inc. | $0 | – | -285,930 | – | -0.29% | – |
| VSM | Exit | Versum Materials Inc. | $0 | – | -193,888 | – | -0.30% | – |
| HALL | Exit | Hallmark Financial Services, I | $0 | – | -660,193 | – | -0.31% | – |
| WHG | Exit | Westwood Holdings Group, Inc. | $0 | – | -115,096 | – | -0.31% | – |
| LNN | Exit | Lindsay Corp. | $0 | – | -88,435 | – | -0.33% | – |
| CTO | Exit | Consolidated-Tomoka Land Co. | $0 | – | -138,404 | – | -0.33% | – |
| TWNK | Exit | Hostess Brands Inc. | $0 | – | -625,445 | – | -0.34% | – |
| LABL | Exit | Multi-Color Corp | $0 | – | -107,189 | – | -0.35% | – |
| CNXN | Exit | PC Connection, Inc. | $0 | – | -318,975 | – | -0.36% | – |
| RSG | Exit | Republic Services, Inc. | $0 | – | -136,172 | – | -0.36% | – |
| CBZ | Exit | CBIZ, Inc. | $0 | – | -560,615 | – | -0.37% | – |
| DHIL | Exit | Diamond Hill Investment Group, | $0 | – | -44,452 | – | -0.38% | – |
| THR | Exit | Thermon Group Holdings, Inc. | $0 | – | -537,915 | – | -0.39% | – |
| ANGO | Exit | Angiodynamics, Inc. | $0 | – | -590,775 | – | -0.41% | – |
| SNA | Exit | Snap On Inc. | $0 | – | -68,534 | – | -0.41% | – |
| EXLS | Exit | Exlservice Holdings Inc. | $0 | – | -184,285 | – | -0.43% | – |
| NCOM | Exit | National Commerce Corporation | $0 | – | -256,310 | – | -0.44% | – |
| CHH | Exit | Choice Hotels International, I | $0 | – | -183,075 | – | -0.47% | – |
| SCSC | Exit | Scansource, Inc. | $0 | – | -305,070 | – | -0.54% | – |
| RHI | Exit | Robert Half Intl. Inc. | $0 | – | -266,516 | – | -0.54% | – |
| DLR | Exit | Digital Realty Trust, Inc. | $0 | – | -113,718 | – | -0.54% | – |
| MNRO | Exit | Monro Inc. | $0 | – | -252,845 | – | -0.57% | – |
| MIC | Exit | Macquarie Infrastructure Compa | $0 | – | -212,148 | – | -0.62% | – |
| PAG | Exit | Penske Automotive Group Inc. | $0 | – | -323,254 | – | -0.62% | – |
| YUM | Exit | YUM! Brands, Inc. | $0 | – | -245,600 | – | -0.73% | – |
| IR | Exit | Ingersoll-Rand, PLC | $0 | – | -219,844 | – | -0.79% | – |
| PNFP | Exit | Pinnacle Financial Partners, I | $0 | – | -312,453 | – | -0.84% | – |
| WTR | Exit | Aqua America, Inc. | $0 | – | -641,513 | – | -0.86% | – |
| SONC | Exit | Sonic Corp. | $0 | – | -855,840 | – | -0.88% | – |
| ECOL | Exit | US Ecology, Inc. | $0 | – | -405,967 | – | -0.88% | – |
| DG | Exit | Dollar General Corporation | $0 | – | -303,404 | – | -0.99% | – |
| BRKB | Exit | Berkshire Hathaway Inc. B | $0 | – | -142,609 | – | -1.05% | – |
| L | Exit | Loews Corporation | $0 | – | -566,720 | – | -1.09% | – |
| LSTR | Exit | Landstar System, Inc. | $0 | – | -286,316 | – | -1.15% | – |
| FLO | Exit | Flowers Foods, Inc. | $0 | – | -1,596,781 | – | -1.21% | – |
| MD | Exit | MEDNAX, Inc. | $0 | – | -716,505 | – | -1.24% | – |
| WTM | Exit | White Mountains Insurance Grou | $0 | – | -39,987 | – | -1.38% | – |
| AJG | Exit | Arthur J. Gallagher & Co. | $0 | – | -561,527 | – | -1.39% | – |
| FWRD | Exit | Forward Air Corporation | $0 | – | -605,148 | – | -1.39% | – |
| MHK | Exit | Mohawk Industries, Inc. | $0 | – | -141,559 | – | -1.41% | – |
| TROW | Exit | T Rowe Price Group, Inc. | $0 | – | -394,218 | – | -1.44% | – |
| KEYS | Exit | Keysight Technologies Inc. | $0 | – | -859,765 | – | -1.44% | – |
| PDCO | Exit | Patterson Companies, Inc. | $0 | – | -996,970 | – | -1.55% | – |
| FCEA | Exit | Forest City Realty Trust, Inc. | $0 | – | -1,563,252 | – | -1.60% | – |
| GGG | Exit | Graco Inc. | $0 | – | -324,909 | – | -1.61% | – |
| MAR | Exit | Marriott Intl Inc New Cl A | $0 | – | -386,440 | – | -1.71% | – |
| FLIR | Exit | FLIR Systems, Inc. | $0 | – | -1,139,010 | – | -1.78% | – |
| XLNX | Exit | Xilinx, Inc. | $0 | – | -642,572 | – | -1.83% | – |
| BEN | Exit | Franklin Resources, Inc. | $0 | – | -1,099,573 | – | -1.97% | – |
| SSB | Exit | South State Corporation | $0 | – | -548,511 | – | -1.98% | – |
| APD | Exit | Air Products & Chemicals, Inc. | $0 | – | -328,720 | – | -2.00% | – |
| WAT | Exit | Waters Corporation | $0 | – | -298,880 | – | -2.16% | – |
| IPG | Exit | Interpublic Group of Companies | $0 | – | -2,583,819 | – | -2.16% | – |
| DCI | Exit | Donaldson Company, Inc. | $0 | – | -1,195,216 | – | -2.21% | – |
| BRKA | Exit | Berkshire Hathaway Inc. A | $0 | – | -202 | – | -2.23% | – |
| MTB | Exit | M&T Bank Corporation | $0 | – | -357,440 | – | -2.31% | – |
| AZO | Exit | AutoZone, Inc. | $0 | – | -99,951 | – | -2.39% | – |
| ITW | Exit | Illinois Tool Works Inc. | $0 | – | -433,458 | – | -2.58% | – |
| KMX | Exit | CarMax, Inc. | $0 | – | -877,752 | – | -2.67% | – |
| EOG | Exit | EOG Resources, Inc. | $0 | – | -700,547 | – | -2.72% | – |
| BRO | Exit | Brown & Brown, Inc. | $0 | – | -1,441,067 | – | -2.79% | – |
| SYK | Exit | Stryker Corporation | $0 | – | -535,576 | – | -3.06% | – |
| MCHP | Exit | Microchip Technology Incorpora | $0 | – | -918,316 | – | -3.31% | – |
| BAM | Exit | Brookfield Asset Management In | $0 | – | -2,021,142 | – | -3.35% | – |
| MKL | Exit | Markel Corporation | $0 | – | -85,719 | – | -3.68% | – |
| ROST | Exit | Ross Stores, Inc. | $0 | – | -1,515,392 | – | -3.93% | – |
| IEX | Exit | IDEX Corporation | $0 | – | -830,270 | – | -4.05% | – |
| CDW | Exit | CDW Corporation | $0 | – | -1,871,977 | – | -4.96% | – |
Q3 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CDW | Sell | CDW Corporation | $123,550,000 | -0.8% | 1,871,977 | -6.0% | 4.96% | -3.7% |
| IEX | Sell | IDEX Corporation | $100,853,000 | +6.4% | 830,270 | -1.0% | 4.05% | +3.3% |
| ROST | Buy | Ross Stores, Inc. | $97,849,000 | +14.1% | 1,515,392 | +2.0% | 3.93% | +10.7% |
| MKL | Sell | Markel Corporation | $91,546,000 | +9.3% | 85,719 | -0.2% | 3.68% | +6.1% |
| BAM | Buy | Brookfield Asset Management In | $83,473,000 | +5.7% | 2,021,142 | +0.3% | 3.35% | +2.5% |
| MCHP | Sell | Microchip Technology Incorpora | $82,446,000 | +15.5% | 918,316 | -0.7% | 3.31% | +12.1% |
| SYK | Sell | Stryker Corporation | $76,063,000 | +1.9% | 535,576 | -0.4% | 3.06% | -1.1% |
| BRO | Sell | Brown & Brown, Inc. | $69,445,000 | +11.7% | 1,441,067 | -0.2% | 2.79% | +8.4% |
| EOG | Buy | EOG Resources, Inc. | $67,771,000 | +7.1% | 700,547 | +0.2% | 2.72% | +4.0% |
| KMX | Sell | CarMax, Inc. | $66,542,000 | +20.2% | 877,752 | -0.0% | 2.67% | +16.6% |
| ITW | Sell | Illinois Tool Works Inc. | $64,134,000 | -5.8% | 433,458 | -8.8% | 2.58% | -8.6% |
| AZO | Buy | AutoZone, Inc. | $59,482,000 | +12.0% | 99,951 | +7.3% | 2.39% | +8.6% |
| MTB | Sell | M&T Bank Corporation | $57,562,000 | -0.9% | 357,440 | -0.3% | 2.31% | -3.8% |
| BRKA | Sell | Berkshire Hathaway Inc. A | $55,497,000 | +5.8% | 202 | -1.9% | 2.23% | +2.6% |
| DCI | Sell | Donaldson Company, Inc. | $54,908,000 | +0.7% | 1,195,216 | -0.2% | 2.21% | -2.3% |
| IPG | Buy | Interpublic Group of Companies | $53,718,000 | -14.8% | 2,583,819 | +0.8% | 2.16% | -17.3% |
| WAT | Sell | Waters Corporation | $53,655,000 | -2.6% | 298,880 | -0.3% | 2.16% | -5.5% |
| APD | Buy | Air Products & Chemicals, Inc. | $49,709,000 | +6.5% | 328,720 | +0.7% | 2.00% | +3.4% |
| SSB | Buy | South State Corporation | $49,393,000 | +5.7% | 548,511 | +0.6% | 1.98% | +2.5% |
| BEN | Sell | Franklin Resources, Inc. | $48,942,000 | -2.7% | 1,099,573 | -2.1% | 1.97% | -5.5% |
| XLNX | Sell | Xilinx, Inc. | $45,513,000 | -8.3% | 642,572 | -16.7% | 1.83% | -11.0% |
| FLIR | Buy | FLIR Systems, Inc. | $44,319,000 | +12.8% | 1,139,010 | +0.5% | 1.78% | +9.4% |
| MAR | Sell | Marriott Intl Inc New Cl A | $42,609,000 | +9.5% | 386,440 | -0.4% | 1.71% | +6.3% |
| GGG | Sell | Graco Inc. | $40,188,000 | +13.1% | 324,909 | -0.1% | 1.61% | +9.7% |
| FCEA | Buy | Forest City Realty Trust, Inc. | $39,879,000 | +6.0% | 1,563,252 | +0.4% | 1.60% | +2.8% |
| PDCO | Sell | Patterson Companies, Inc. | $38,533,000 | -17.8% | 996,970 | -0.1% | 1.55% | -20.2% |
| KEYS | Sell | Keysight Technologies Inc. | $35,818,000 | +6.8% | 859,765 | -0.2% | 1.44% | +3.7% |
| TROW | Sell | T Rowe Price Group, Inc. | $35,736,000 | +20.7% | 394,218 | -1.2% | 1.44% | +17.1% |
| MHK | Sell | Mohawk Industries, Inc. | $35,037,000 | +2.4% | 141,559 | -0.0% | 1.41% | -0.6% |
| FWRD | Sell | Forward Air Corporation | $34,633,000 | +7.0% | 605,148 | -0.3% | 1.39% | +3.9% |
| AJG | Buy | Arthur J. Gallagher & Co. | $34,562,000 | +7.6% | 561,527 | +0.1% | 1.39% | +4.4% |
| WTM | Sell | White Mountains Insurance Grou | $34,269,000 | -9.6% | 39,987 | -8.4% | 1.38% | -12.3% |
| MD | Sell | MEDNAX, Inc. | $30,896,000 | -41.4% | 716,505 | -18.0% | 1.24% | -43.2% |
| FLO | Sell | Flowers Foods, Inc. | $30,035,000 | +0.4% | 1,596,781 | -7.6% | 1.21% | -2.5% |
| LSTR | Buy | Landstar System, Inc. | $28,531,000 | +505.1% | 286,316 | +419.8% | 1.15% | +487.7% |
| L | Sell | Loews Corporation | $27,123,000 | +1.8% | 566,720 | -0.4% | 1.09% | -1.2% |
| BRKB | Buy | Berkshire Hathaway Inc. B | $26,143,000 | +8.3% | 142,609 | +0.0% | 1.05% | +5.1% |
| DG | Buy | Dollar General Corporation | $24,591,000 | +13.6% | 303,404 | +1.0% | 0.99% | +10.3% |
| ECOL | Buy | US Ecology, Inc. | $21,841,000 | +6.6% | 405,967 | +0.1% | 0.88% | +3.4% |
| SONC | Buy | Sonic Corp. | $21,781,000 | +1.9% | 855,840 | +6.1% | 0.88% | -1.0% |
| WTR | Sell | Aqua America, Inc. | $21,292,000 | -0.4% | 641,513 | -0.1% | 0.86% | -3.4% |
| PNFP | Sell | Pinnacle Financial Partners, I | $20,919,000 | +6.1% | 312,453 | -0.5% | 0.84% | +2.9% |
| IR | Buy | Ingersoll-Rand, PLC | $19,603,000 | -2.3% | 219,844 | +0.1% | 0.79% | -5.3% |
| PAG | Buy | Penske Automotive Group Inc. | $15,377,000 | +9.1% | 323,254 | +0.7% | 0.62% | +6.0% |
| MIC | Buy | Macquarie Infrastructure Compa | $15,313,000 | -4.6% | 212,148 | +3.6% | 0.62% | -7.5% |
| MNRO | Buy | Monro Inc. | $14,172,000 | +157.4% | 252,845 | +91.8% | 0.57% | +149.6% |
| DLR | Sell | Digital Realty Trust, Inc. | $13,456,000 | +4.7% | 113,718 | -0.0% | 0.54% | +1.7% |
| RHI | Sell | Robert Half Intl. Inc. | $13,416,000 | +5.0% | 266,516 | -0.0% | 0.54% | +1.9% |
| SNA | New | Snap On Inc. | $10,212,000 | – | 68,534 | – | 0.41% | – |
| ANGO | Buy | Angiodynamics, Inc. | $10,096,000 | +7.5% | 590,775 | +2.0% | 0.41% | +4.4% |
| CBZ | Buy | CBIZ, Inc. | $9,110,000 | +9.2% | 560,615 | +0.8% | 0.37% | +6.1% |
| RSG | Sell | Republic Services, Inc. | $8,996,000 | +3.1% | 136,172 | -0.5% | 0.36% | 0.0% |
| TWNK | Buy | Hostess Brands Inc. | $8,544,000 | +8.6% | 625,445 | +28.0% | 0.34% | +5.2% |
| LNN | Sell | Lindsay Corp. | $8,127,000 | -5.9% | 88,435 | -8.6% | 0.33% | -8.9% |
| VSM | Buy | Versum Materials Inc. | $7,527,000 | +19.9% | 193,888 | +0.3% | 0.30% | +16.2% |
| CSV | Buy | Carriage Services Inc. | $7,320,000 | +6.8% | 285,930 | +12.4% | 0.29% | +3.5% |
| FELE | Sell | Franklin Electric Co., Inc. | $7,172,000 | +7.7% | 159,920 | -0.6% | 0.29% | +4.3% |
| MDU | Sell | MDU Resources Group, Inc. | $6,678,000 | -1.2% | 257,353 | -0.2% | 0.27% | -4.3% |
| BANX | Sell | StoneCastle Financial Corp. | $5,002,000 | -0.9% | 242,371 | -2.1% | 0.20% | -3.8% |
| SYBT | Sell | Stock Yards Bancorp, Inc. | $4,045,000 | -2.4% | 106,437 | -0.1% | 0.16% | -5.8% |
| MKC | Buy | McCormick & Company | $3,778,000 | +5.3% | 36,805 | +0.0% | 0.15% | +2.0% |
| XOM | Buy | Exxon Mobil Corporation | $2,179,000 | +52.3% | 26,584 | +50.0% | 0.09% | +49.2% |
| SPY | Sell | Spdr S&P 500 ETF Trustetf | $2,036,000 | -16.1% | 8,104 | -19.2% | 0.08% | -18.0% |
| AGN | Buy | Allergan PLC | $1,726,000 | -15.6% | 8,420 | +0.1% | 0.07% | -18.8% |
| IBM | Buy | International Business Machine | $1,425,000 | +18.4% | 9,820 | +25.5% | 0.06% | +14.0% |
| NBTB | Buy | NBT Bancorp Inc | $1,382,000 | +0.4% | 37,632 | +1.0% | 0.06% | -1.8% |
| GE | Buy | General Electric Company | $1,114,000 | +86.9% | 46,058 | +108.6% | 0.04% | +80.0% |
| CHFC | New | Chemical Financial Corp | $819,000 | – | 15,675 | – | 0.03% | – |
| AAPL | Buy | Apple Inc | $765,000 | +275.0% | 4,966 | +251.2% | 0.03% | +287.5% |
| MSFT | Buy | Microsoft Corp | $569,000 | +169.7% | 7,635 | +149.8% | 0.02% | +155.6% |
| PG | Buy | Procter & Gamble | $517,000 | +69.5% | 5,686 | +62.6% | 0.02% | +61.5% |
| MRK | New | Merck & Co Inc New | $498,000 | – | 7,783 | – | 0.02% | – |
| New | Nestle Sa Ord F | $486,000 | – | 5,800 | – | 0.02% | – | |
| PFE | Buy | Pfizer Incorporated | $428,000 | +33.8% | 11,995 | +26.1% | 0.02% | +30.8% |
| UNP | Buy | Union Pacific Corp | $391,000 | +7.1% | 3,369 | +0.4% | 0.02% | +6.7% |
| T | Buy | AT&T Inc New | $371,000 | +17.0% | 9,478 | +12.7% | 0.02% | +15.4% |
| DWDP | New | DowDupont Inc. | $344,000 | – | 4,972 | – | 0.01% | – |
| AMGN | Buy | Amgen Incorporated | $292,000 | +33.9% | 1,564 | +23.7% | 0.01% | +33.3% |
| LQD | New | Ishares Iboxx Investop Iboxx $etf | $287,000 | – | 2,365 | – | 0.01% | – |
| CVX | New | Chevron Corporation | $270,000 | – | 2,296 | – | 0.01% | – |
| EGN | New | Energen Corp. | $270,000 | – | 4,941 | – | 0.01% | – |
| ADP | Buy | Auto Data Processing | $265,000 | +28.0% | 2,420 | +19.8% | 0.01% | +22.2% |
| KEY | New | Keycorp New | $273,000 | – | 14,501 | – | 0.01% | – |
| ETN | New | Eaton Corp PLC | $242,000 | – | 3,155 | – | 0.01% | – |
| VZ | New | Verizon Communications | $245,000 | – | 4,957 | – | 0.01% | – |
| INTC | New | Intel Corp | $213,000 | – | 5,584 | – | 0.01% | – |
| UPS | New | United Parcel Service B Class | $204,000 | – | 1,702 | – | 0.01% | – |
| CAT | New | Caterpillar Inc | $211,000 | – | 1,695 | – | 0.01% | – |
| CMI | New | Cummins Inc | $202,000 | – | 1,200 | – | 0.01% | – |
| KLDX | New | Klondex Mines LTD | $91,000 | – | 25,000 | – | 0.00% | – |
| OMC | Exit | Omnicom Group | $0 | – | -21,000 | – | -0.07% | – |
| ROIC | Exit | Retail Opportunity Investments | $0 | – | -219,450 | – | -0.17% | – |
| IPCC | Exit | Infinity Property and Casualty | $0 | – | -55,915 | – | -0.22% | – |
| ECHO | Exit | Echo Global Logistics, Inc. | $0 | – | -396,750 | – | -0.33% | – |
| FL | Exit | Foot Locker Inc. | $0 | – | -254,696 | – | -0.52% | – |
| OZRK | Exit | Bank of the Ozarks, Inc. | $0 | – | -378,650 | – | -0.74% | – |
Q2 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CDW | New | CDW Corporation | $124,505,000 | – | 1,991,127 | – | 5.15% | – |
| IEX | New | IDEX Corporation | $94,744,000 | – | 838,372 | – | 3.92% | – |
| ROST | New | Ross Stores, Inc. | $85,783,000 | – | 1,485,943 | – | 3.55% | – |
| MKL | New | Markel Corporation | $83,786,000 | – | 85,859 | – | 3.47% | – |
| BAM | New | Brookfield Asset Management In | $79,001,000 | – | 2,014,814 | – | 3.27% | – |
| SYK | New | Stryker Corporation | $74,631,000 | – | 537,766 | – | 3.09% | – |
| MCHP | New | Microchip Technology Incorpora | $71,364,000 | – | 924,648 | – | 2.95% | – |
| ITW | New | Illinois Tool Works Inc. | $68,048,000 | – | 475,027 | – | 2.82% | – |
| EOG | New | EOG Resources, Inc. | $63,258,000 | – | 698,832 | – | 2.62% | – |
| IPG | New | Interpublic Group of Companies | $63,082,000 | – | 2,564,314 | – | 2.61% | – |
| BRO | New | Brown & Brown, Inc. | $62,183,000 | – | 1,443,767 | – | 2.57% | – |
| MTB | New | M&T Bank Corporation | $58,088,000 | – | 358,678 | – | 2.40% | – |
| KMX | New | CarMax, Inc. | $55,365,000 | – | 877,977 | – | 2.29% | – |
| WAT | New | Waters Corporation | $55,097,000 | – | 299,700 | – | 2.28% | – |
| DCI | New | Donaldson Company, Inc. | $54,542,000 | – | 1,197,679 | – | 2.26% | – |
| AZO | New | AutoZone, Inc. | $53,130,000 | – | 93,136 | – | 2.20% | – |
| MD | New | MEDNAX, Inc. | $52,761,000 | – | 873,960 | – | 2.18% | – |
| BRKA | New | Berkshire Hathaway Inc. A | $52,468,000 | – | 206 | – | 2.17% | – |
| BEN | New | Franklin Resources, Inc. | $50,282,000 | – | 1,122,623 | – | 2.08% | – |
| XLNX | New | Xilinx, Inc. | $49,606,000 | – | 771,239 | – | 2.05% | – |
| PDCO | New | Patterson Companies, Inc. | $46,857,000 | – | 998,025 | – | 1.94% | – |
| SSB | New | South State Corporation | $46,744,000 | – | 545,438 | – | 1.94% | – |
| APD | New | Air Products & Chemicals, Inc. | $46,680,000 | – | 326,300 | – | 1.93% | – |
| FLIR | New | FLIR Systems, Inc. | $39,294,000 | – | 1,133,685 | – | 1.63% | – |
| MAR | New | Marriott Intl Inc New Cl A | $38,918,000 | – | 387,975 | – | 1.61% | – |
| WTM | New | White Mountains Insurance Grou | $37,922,000 | – | 43,657 | – | 1.57% | – |
| FCEA | New | Forest City Realty Trust, Inc. | $37,628,000 | – | 1,556,822 | – | 1.56% | – |
| GGG | New | Graco Inc. | $35,539,000 | – | 325,214 | – | 1.47% | – |
| MHK | New | Mohawk Industries, Inc. | $34,219,000 | – | 141,584 | – | 1.42% | – |
| KEYS | New | Keysight Technologies Inc. | $33,535,000 | – | 861,415 | – | 1.39% | – |
| FWRD | New | Forward Air Corporation | $32,353,000 | – | 607,223 | – | 1.34% | – |
| AJG | New | Arthur J. Gallagher & Co. | $32,126,000 | – | 561,147 | – | 1.33% | – |
| FLO | New | Flowers Foods, Inc. | $29,912,000 | – | 1,728,031 | – | 1.24% | – |
| TROW | New | T Rowe Price Group, Inc. | $29,616,000 | – | 399,081 | – | 1.23% | – |
| L | New | Loews Corporation | $26,648,000 | – | 569,270 | – | 1.10% | – |
| BRKB | New | Berkshire Hathaway Inc. B | $24,144,000 | – | 142,549 | – | 1.00% | – |
| DG | New | Dollar General Corporation | $21,646,000 | – | 300,264 | – | 0.90% | – |
| WTR | New | Aqua America, Inc. | $21,385,000 | – | 642,188 | – | 0.88% | – |
| SONC | New | Sonic Corp. | $21,365,000 | – | 806,530 | – | 0.88% | – |
| ECOL | New | US Ecology, Inc. | $20,487,000 | – | 405,677 | – | 0.85% | – |
| IR | New | Ingersoll-Rand, PLC | $20,065,000 | – | 219,549 | – | 0.83% | – |
| PNFP | New | Pinnacle Financial Partners, I | $19,715,000 | – | 313,928 | – | 0.82% | – |
| YUM | New | YUM! Brands, Inc. | $18,115,000 | – | 245,600 | – | 0.75% | – |
| OZRK | New | Bank of the Ozarks, Inc. | $17,747,000 | – | 378,650 | – | 0.74% | – |
| MIC | New | Macquarie Infrastructure Compa | $16,054,000 | – | 204,773 | – | 0.66% | – |
| PAG | New | Penske Automotive Group Inc. | $14,094,000 | – | 320,979 | – | 0.58% | – |
| DLR | New | Digital Realty Trust, Inc. | $12,850,000 | – | 113,768 | – | 0.53% | – |
| RHI | New | Robert Half Intl. Inc. | $12,780,000 | – | 266,641 | – | 0.53% | – |
| FL | New | Foot Locker Inc. | $12,551,000 | – | 254,696 | – | 0.52% | – |
| SCSC | New | Scansource, Inc. | $12,294,000 | – | 305,070 | – | 0.51% | – |
| CHH | New | Choice Hotels International, I | $11,763,000 | – | 183,075 | – | 0.49% | – |
| THR | New | Thermon Group Holdings, Inc. | $10,312,000 | – | 537,915 | – | 0.43% | – |
| EXLS | New | Exlservice Holdings Inc. | $10,243,000 | – | 184,285 | – | 0.42% | – |
| NCOM | New | National Commerce Corporation | $10,137,000 | – | 256,310 | – | 0.42% | – |
| ANGO | New | Angiodynamics, Inc. | $9,389,000 | – | 579,225 | – | 0.39% | – |
| DHIL | New | Diamond Hill Investment Group, | $8,864,000 | – | 44,452 | – | 0.37% | – |
| LABL | New | Multi-Color Corp | $8,747,000 | – | 107,189 | – | 0.36% | – |
| RSG | New | Republic Services, Inc. | $8,724,000 | – | 136,897 | – | 0.36% | – |
| LNN | New | Lindsay Corp. | $8,637,000 | – | 96,770 | – | 0.36% | – |
| CNXN | New | PC Connection, Inc. | $8,631,000 | – | 318,975 | – | 0.36% | – |
| CBZ | New | CBIZ, Inc. | $8,343,000 | – | 556,200 | – | 0.34% | – |
| ECHO | New | Echo Global Logistics, Inc. | $7,895,000 | – | 396,750 | – | 0.33% | – |
| TWNK | New | Hostess Brands Inc. | $7,866,000 | – | 488,550 | – | 0.33% | – |
| CTO | New | Consolidated-Tomoka Land Co. | $7,882,000 | – | 138,404 | – | 0.33% | – |
| MG | New | Mistras Group, Inc. | $7,604,000 | – | 346,125 | – | 0.32% | – |
| HALL | New | Hallmark Financial Services, I | $7,440,000 | – | 660,193 | – | 0.31% | – |
| FRPH | New | FRP Holdings, Inc. | $7,144,000 | – | 154,797 | – | 0.30% | – |
| CSV | New | Carriage Services Inc. | $6,856,000 | – | 254,300 | – | 0.28% | – |
| MDU | New | MDU Resources Group, Inc. | $6,759,000 | – | 257,978 | – | 0.28% | – |
| EPM | New | Evolution Petroleum Corporatio | $6,725,000 | – | 830,200 | – | 0.28% | – |
| FELE | New | Franklin Electric Co., Inc. | $6,662,000 | – | 160,920 | – | 0.28% | – |
| WHG | New | Westwood Holdings Group, Inc. | $6,525,000 | – | 115,096 | – | 0.27% | – |
| VSM | New | Versum Materials Inc. | $6,280,000 | – | 193,243 | – | 0.26% | – |
| MNRO | New | Monro Muffler Brake Inc. | $5,505,000 | – | 131,846 | – | 0.23% | – |
| IPCC | New | Infinity Property and Casualty | $5,256,000 | – | 55,915 | – | 0.22% | – |
| BANX | New | StoneCastle Financial Corp. | $5,049,000 | – | 247,521 | – | 0.21% | – |
| NATI | New | National Instruments | $4,907,000 | – | 122,000 | – | 0.20% | – |
| LSTR | New | Landstar System, Inc. | $4,715,000 | – | 55,082 | – | 0.20% | – |
| HOMB | New | Home BancShares, Inc. | $4,230,000 | – | 169,869 | – | 0.18% | – |
| ROIC | New | Retail Opportunity Investments | $4,211,000 | – | 219,450 | – | 0.17% | – |
| SYBT | New | Stock Yards Bancorp, Inc. | $4,144,000 | – | 106,537 | – | 0.17% | – |
| MKC | New | McCormick & Company | $3,588,000 | – | 36,795 | – | 0.15% | – |
| CWST | New | Casella Waste System Inc. | $3,211,000 | – | 195,677 | – | 0.13% | – |
| SPY | New | Spdr S&P 500 ETF Trustetf | $2,426,000 | – | 10,032 | – | 0.10% | – |
| AGN | New | Allergan PLC | $2,046,000 | – | 8,415 | – | 0.08% | – |
| OMC | New | Omnicom Group | $1,741,000 | – | 21,000 | – | 0.07% | – |
| ESGR | New | Enstar Group Ltd | $1,707,000 | – | 8,595 | – | 0.07% | – |
| XOM | New | Exxon Mobil Corporation | $1,431,000 | – | 17,721 | – | 0.06% | – |
| NBTB | New | NBT Bancorp Inc | $1,377,000 | – | 37,270 | – | 0.06% | – |
| IBM | New | International Business Machine | $1,204,000 | – | 7,825 | – | 0.05% | – |
| GE | New | General Electric Company | $596,000 | – | 22,080 | – | 0.02% | – |
| CBU | New | Community Bank System | $452,000 | – | 8,098 | – | 0.02% | – |
| USB | New | US Bancorp | $381,000 | – | 7,331 | – | 0.02% | – |
| CNMD | New | Conmed Corp | $361,000 | – | 7,087 | – | 0.02% | – |
| UNP | New | Union Pacific Corp | $365,000 | – | 3,354 | – | 0.02% | – |
| T | New | AT&T Inc New | $317,000 | – | 8,413 | – | 0.01% | – |
| PFE | New | Pfizer Incorporated | $320,000 | – | 9,514 | – | 0.01% | – |
| PG | New | Procter & Gamble | $305,000 | – | 3,497 | – | 0.01% | – |
| GLNV | New | Glenville Bank Hldg Co | $321,000 | – | 4,006 | – | 0.01% | – |
| AMGN | New | Amgen Incorporated | $218,000 | – | 1,264 | – | 0.01% | – |
| MSFT | New | Microsoft Corp | $211,000 | – | 3,056 | – | 0.01% | – |
| ADP | New | Auto Data Processing | $207,000 | – | 2,020 | – | 0.01% | – |
| PEG | New | Pub Svc Ent Group Inc | $211,000 | – | 4,901 | – | 0.01% | – |
| AAPL | New | Apple Inc | $204,000 | – | 1,414 | – | 0.01% | – |
| NLNK | New | Newlink Genetics Corp | $91,000 | – | 12,321 | – | 0.00% | – |
| SNAK | New | Inventure Foods, Inc. | $71,000 | – | 16,495 | – | 0.00% | – |
Q4 2016
Q3 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ROST | Sell | Ross Stores, Inc. | $94,983,000 | +13.3% | 1,477,189 | -0.1% | 4.56% | +10.0% |
| CDW | Buy | CDW Corporation | $91,785,000 | +14.6% | 2,007,101 | +0.5% | 4.40% | +11.3% |
| IEX | Sell | IDEX Corporation | $80,445,000 | +13.9% | 859,736 | -0.0% | 3.86% | +10.6% |
| MKL | Sell | Markel Corporation | $79,839,000 | -2.6% | 85,962 | -0.1% | 3.83% | -5.4% |
| BAM | Buy | Brookfield Asset Management In | $69,672,000 | +7.0% | 1,980,439 | +0.6% | 3.34% | +3.9% |
| EOG | Buy | EOG Resources, Inc. | $67,373,000 | +16.3% | 696,645 | +0.3% | 3.23% | +12.9% |
| BRO | Sell | Brown & Brown, Inc. | $66,625,000 | -1.3% | 1,766,762 | -1.9% | 3.20% | -4.2% |
| SYK | Sell | Stryker Corporation | $61,937,000 | -3.8% | 532,056 | -1.0% | 2.97% | -6.6% |
| ITW | Sell | Illinois Tool Works Inc. | $61,585,000 | +14.9% | 513,897 | -0.1% | 2.95% | +11.6% |
| MCHP | Buy | Microchip Technology Incorpora | $55,995,000 | +23.5% | 901,115 | +0.9% | 2.69% | +19.9% |
| WTM | Sell | White Mountains Insurance Grou | $53,257,000 | -8.9% | 64,165 | -7.6% | 2.56% | -11.6% |
| AZO | Sell | AutoZone, Inc. | $53,004,000 | -3.2% | 68,985 | -0.0% | 2.54% | -6.1% |
| MD | Buy | MEDNAX, Inc. | $52,964,000 | -8.2% | 799,460 | +0.3% | 2.54% | -10.9% |
| DCI | Sell | Donaldson Company, Inc. | $47,711,000 | +8.6% | 1,278,092 | -0.1% | 2.29% | +5.4% |
| KMX | Buy | CarMax, Inc. | $46,893,000 | +8.9% | 878,978 | +0.1% | 2.25% | +5.7% |
| WAT | Sell | Waters Corporation | $44,446,000 | +0.3% | 280,436 | -11.0% | 2.13% | -2.6% |
| XLNX | Sell | Xilinx, Inc. | $42,908,000 | +10.6% | 789,629 | -6.1% | 2.06% | +7.4% |
| MTB | Buy | M&T Bank Corporation | $42,271,000 | -0.3% | 364,087 | +1.5% | 2.03% | -3.2% |
| BEN | Buy | Franklin Resources, Inc. | $40,422,000 | +7.1% | 1,136,419 | +0.4% | 1.94% | +3.9% |
| SSB | Buy | South State Corporation | $39,824,000 | +11.1% | 530,710 | +0.8% | 1.91% | +7.8% |
| IPG | Buy | Interpublic Group of Companies | $39,569,000 | +9.2% | 1,770,425 | +12.9% | 1.90% | +6.0% |
| FLIR | Buy | FLIR Systems, Inc. | $35,771,000 | +3.8% | 1,138,485 | +2.3% | 1.72% | +0.8% |
| PDCO | Buy | Patterson Companies, Inc. | $34,785,000 | -0.7% | 757,175 | +3.6% | 1.67% | -3.6% |
| TROW | Buy | T Rowe Price Group, Inc. | $32,668,000 | +1.1% | 491,250 | +11.0% | 1.57% | -1.8% |
| GGG | Buy | Graco Inc. | $30,901,000 | -6.2% | 417,584 | +0.1% | 1.48% | -9.0% |
| DSW | Buy | DSW Inc. | $28,614,000 | -3.2% | 1,397,157 | +0.2% | 1.37% | -6.0% |
| FWRD | Sell | Forward Air Corporation | $27,774,000 | -3.0% | 642,018 | -0.1% | 1.33% | -5.9% |
| AJG | Buy | Arthur J. Gallagher & Co. | $27,404,000 | +7.7% | 538,697 | +0.7% | 1.31% | +4.5% |
| KEYS | Buy | Keysight Technologies Inc. | $27,266,000 | +30.3% | 860,390 | +19.6% | 1.31% | +26.5% |
| MAR | New | Marriott Intl Inc New Cl A | $26,420,000 | – | 392,392 | – | 1.27% | – |
| ECOL | Buy | US Ecology, Inc. | $25,844,000 | -0.5% | 576,354 | +1.9% | 1.24% | -3.4% |
| L | Sell | Loews Corporation | $24,805,000 | -0.8% | 602,795 | -1.0% | 1.19% | -3.7% |
| FLO | Buy | Flowers Foods, Inc. | $24,066,000 | -10.0% | 1,591,685 | +11.6% | 1.15% | -12.7% |
| YUM | Sell | YUM! Brands, Inc. | $22,426,000 | +9.2% | 246,950 | -0.3% | 1.08% | +6.0% |
| BRKB | Buy | Berkshire Hathaway Inc. B | $20,655,000 | +0.3% | 142,972 | +0.5% | 0.99% | -2.6% |
| WTR | Sell | Aqua America, Inc. | $19,852,000 | -35.9% | 651,323 | -25.0% | 0.95% | -37.7% |
| PNFP | Sell | Pinnacle Financial Partners, I | $19,398,000 | +10.5% | 358,686 | -0.2% | 0.93% | +7.1% |
| MIC | Buy | Macquarie Infrastructure Compa | $15,410,000 | +13.0% | 185,126 | +0.5% | 0.74% | +9.6% |
| BH | Sell | Biglari Holdings Inc. | $12,424,000 | +7.6% | 28,495 | -0.5% | 0.60% | +4.6% |
| DLR | Sell | Digital Realty Trust, Inc. | $10,803,000 | -49.3% | 111,230 | -43.1% | 0.52% | -50.8% |
| PAG | Buy | Penske Automotive Group Inc. | $10,669,000 | +117.0% | 221,450 | +41.7% | 0.51% | +110.7% |
| APD | Buy | Air Prod & Chemicals Inc | $10,634,000 | +46.6% | 70,730 | +38.5% | 0.51% | +42.5% |
| SCSC | Buy | Scansource, Inc. | $10,354,000 | +9.4% | 283,675 | +11.2% | 0.50% | +6.2% |
| MAT | Sell | Mattel, Inc. | $9,998,000 | -3.9% | 330,187 | -0.7% | 0.48% | -6.6% |
| IR | Buy | Ingersoll-Rand, PLC | $9,686,000 | +24.9% | 142,574 | +17.0% | 0.46% | +21.4% |
| RHI | New | Robert Half Intl. Inc. | $9,571,000 | – | 252,801 | – | 0.46% | – |
| LSTR | Buy | Landstar System, Inc. | $9,100,000 | -0.7% | 133,671 | +0.1% | 0.44% | -3.8% |
| THR | Buy | Thermon Group Holdings, Inc. | $8,955,000 | +26.4% | 453,440 | +22.9% | 0.43% | +22.9% |
| CNXN | Buy | PC Connection, Inc. | $8,421,000 | +14.7% | 318,750 | +3.4% | 0.40% | +11.3% |
| FELE | Buy | Franklin Electric Co., Inc. | $8,425,000 | +23.3% | 206,945 | +0.1% | 0.40% | +19.5% |
| LNN | Buy | Lindsay Corp. | $8,226,000 | +13.9% | 111,190 | +4.4% | 0.40% | +10.6% |
| CTO | Buy | Consolidated-Tomoka Land Co. | $8,144,000 | +8.3% | 159,084 | +0.4% | 0.39% | +5.1% |
| MG | Buy | Mistras Group, Inc. | $8,123,000 | -1.6% | 346,100 | +0.1% | 0.39% | -4.4% |
| ECHO | Buy | Echo Global Logistics, Inc. | $7,914,000 | +3.0% | 343,175 | +0.1% | 0.38% | 0.0% |
| SGBK | Buy | Stonegate Bank | $7,164,000 | +4.8% | 212,275 | +0.2% | 0.34% | +1.8% |
| CHH | Buy | Choice Hotels International, I | $7,149,000 | -2.0% | 158,595 | +3.5% | 0.34% | -5.0% |
| RSG | Sell | Republic Services, Inc. | $7,149,000 | -33.1% | 141,706 | -31.9% | 0.34% | -35.0% |
| DHIL | Buy | Diamond Hill Investment Group, | $6,960,000 | -0.3% | 37,666 | +1.7% | 0.33% | -3.2% |
| LABL | Buy | Multi-Color Corp | $6,848,000 | +4.2% | 103,759 | +0.1% | 0.33% | +0.9% |
| MDU | Sell | MDU Resources Group, Inc. | $6,701,000 | +5.5% | 263,403 | -0.5% | 0.32% | +2.2% |
| HALL | Buy | Hallmark Financial Services, I | $6,676,000 | -10.5% | 648,762 | +0.8% | 0.32% | -13.3% |
| FRPH | Sell | FRP Holdings, Inc. | $6,656,000 | -10.3% | 214,237 | -0.4% | 0.32% | -13.1% |
| WHG | Buy | Westwood Holdings Group, Inc. | $6,406,000 | +3.3% | 120,621 | +0.8% | 0.31% | +0.3% |
| SYBT | Buy | Stock Yards Bancorp, Inc. | $6,289,000 | +20.5% | 190,812 | +3.2% | 0.30% | +17.1% |
| FOE | Sell | Ferro Corporation | $5,243,000 | -41.4% | 379,658 | -43.2% | 0.25% | -43.2% |
| ROIC | Buy | Retail Opportunity Investments | $5,029,000 | +1.5% | 229,025 | +0.2% | 0.24% | -1.6% |
| BANX | Sell | StoneCastle Financial Corp. | $4,957,000 | +0.2% | 265,525 | -1.6% | 0.24% | -2.5% |
| AHP | Sell | Ashford Hospitality Prime REIT | $4,733,000 | -0.3% | 335,670 | -0.0% | 0.23% | -3.4% |
| HOMB | Sell | Home BancShares, Inc. | $3,799,000 | +5.1% | 182,546 | -0.1% | 0.18% | +1.7% |
| SPY | New | Spdr S&P 500 ETF Trustetf | $3,581,000 | – | 16,557 | – | 0.17% | – |
| IBM | Buy | International Business Machine | $1,162,000 | +5.7% | 7,314 | +1.0% | 0.06% | +3.7% |
| FNBCQ | Sell | First NBC Bank Holding Company | $1,082,000 | -71.3% | 114,634 | -48.9% | 0.05% | -72.0% |
| DBEF | New | Deutsche X-trackers MSCI EAFEetf | $379,000 | – | 14,351 | – | 0.02% | – |
| UNP | Sell | Union Pacific Corp | $327,000 | -34.9% | 3,354 | -41.7% | 0.02% | -36.0% |
| T | Sell | A T & T Inc New | $288,000 | -9.7% | 7,083 | -4.1% | 0.01% | -12.5% |
| SJM | Sell | Smuckers, Jm | $207,000 | -22.5% | 1,528 | -12.8% | 0.01% | -23.1% |
| VZ | Exit | Verizon Communications | $0 | – | -3,618 | – | -0.01% | – |
| JWA | Exit | John Wiley & Sons, Inc. | $0 | – | -77,000 | – | -0.20% | – |
| STR | Exit | Questar Corporation | $0 | – | -398,291 | – | -0.50% | – |
| HOT | Exit | Starwood Hotels & Resorts Worl | $0 | – | -492,280 | – | -1.80% | – |
Q2 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ROST | New | Ross Stores, Inc. | $83,821,000 | – | 1,478,594 | – | 4.14% | – |
| MKL | New | Markel Corporation | $81,951,000 | – | 86,012 | – | 4.05% | – |
| CDW | New | CDW Corporation | $80,059,000 | – | 1,997,476 | – | 3.96% | – |
| IEX | New | IDEX Corporation | $70,600,000 | – | 859,926 | – | 3.49% | – |
| BRO | New | Brown & Brown, Inc. | $67,505,000 | – | 1,801,562 | – | 3.34% | – |
| BAM | New | Brookfield Asset Management In | $65,127,000 | – | 1,969,364 | – | 3.22% | – |
| SYK | New | Stryker Corporation | $64,400,000 | – | 537,426 | – | 3.18% | – |
| WTM | New | White Mountains Insurance Grou | $58,474,000 | – | 69,447 | – | 2.89% | – |
| EOG | New | EOG Resources, Inc. | $57,947,000 | – | 694,640 | – | 2.86% | – |
| MD | New | MEDNAX, Inc. | $57,715,000 | – | 796,835 | – | 2.85% | – |
| AZO | New | AutoZone, Inc. | $54,783,000 | – | 69,010 | – | 2.71% | – |
| ITW | New | Illinois Tool Works Inc. | $53,603,000 | – | 514,622 | – | 2.65% | – |
| MCHP | New | Microchip Technology Incorpora | $45,342,000 | – | 893,265 | – | 2.24% | – |
| BRKA | New | Berkshire Hathaway Inc. A | $44,697,000 | – | 206 | – | 2.21% | – |
| WAT | New | Waters Corporation | $44,300,000 | – | 314,964 | – | 2.19% | – |
| DCI | New | Donaldson Company, Inc. | $43,938,000 | – | 1,278,742 | – | 2.17% | – |
| KMX | New | CarMax, Inc. | $43,050,000 | – | 878,028 | – | 2.13% | – |
| MTB | New | M&T Bank Corporation | $42,392,000 | – | 358,557 | – | 2.10% | – |
| XLNX | New | Xilinx, Inc. | $38,802,000 | – | 841,154 | – | 1.92% | – |
| BEN | New | Franklin Resources, Inc. | $37,757,000 | – | 1,131,474 | – | 1.87% | – |
| HOT | New | Starwood Hotels & Resorts Worl | $36,404,000 | – | 492,280 | – | 1.80% | – |
| IPG | New | Interpublic Group of Companies | $36,232,000 | – | 1,568,490 | – | 1.79% | – |
| SSB | New | South State Corporation | $35,838,000 | – | 526,635 | – | 1.77% | – |
| PDCO | New | Patterson Companies, Inc. | $35,017,000 | – | 731,190 | – | 1.73% | – |
| FLIR | New | FLIR Systems, Inc. | $34,445,000 | – | 1,112,910 | – | 1.70% | – |
| GGG | New | Graco Inc. | $32,957,000 | – | 417,234 | – | 1.63% | – |
| TROW | New | T Rowe Price Group, Inc. | $32,302,000 | – | 442,675 | – | 1.60% | – |
| WTR | New | Aqua America, Inc. | $30,954,000 | – | 868,045 | – | 1.53% | – |
| DSW | New | DSW Inc. | $29,547,000 | – | 1,395,032 | – | 1.46% | – |
| FWRD | New | Forward Air Corporation | $28,630,000 | – | 642,933 | – | 1.42% | – |
| MHK | New | Mohawk Industries, Inc. | $27,000,000 | – | 142,284 | – | 1.33% | – |
| FLO | New | Flowers Foods, Inc. | $26,753,000 | – | 1,426,840 | – | 1.32% | – |
| ECOL | New | US Ecology, Inc. | $25,983,000 | – | 565,454 | – | 1.28% | – |
| OZRK | New | Bank of the Ozarks, Inc. | $25,941,000 | – | 691,378 | – | 1.28% | – |
| AJG | New | Arthur J. Gallagher & Co. | $25,455,000 | – | 534,772 | – | 1.26% | – |
| L | New | Loews Corporation | $25,009,000 | – | 608,645 | – | 1.24% | – |
| DLR | New | Digital Realty Trust, Inc. | $21,287,000 | – | 195,315 | – | 1.05% | – |
| KEYS | New | Keysight Technologies Inc. | $20,920,000 | – | 719,140 | – | 1.03% | – |
| BRKB | New | Berkshire Hathaway Inc. B | $20,591,000 | – | 142,213 | – | 1.02% | – |
| YUM | New | YUM! Brands, Inc. | $20,538,000 | – | 247,680 | – | 1.02% | – |
| PNFP | New | Pinnacle Financial Partners, I | $17,561,000 | – | 359,486 | – | 0.87% | – |
| FCEA | New | Forest City Realty Trust, Inc. | $15,253,000 | – | 683,700 | – | 0.75% | – |
| MIC | New | Macquarie Infrastructure Compa | $13,636,000 | – | 184,151 | – | 0.67% | – |
| BH | New | Biglari Holdings Inc. | $11,546,000 | – | 28,625 | – | 0.57% | – |
| RSG | New | Republic Services, Inc. | $10,684,000 | – | 208,226 | – | 0.53% | – |
| MAT | New | Mattel, Inc. | $10,408,000 | – | 332,637 | – | 0.51% | – |
| STR | New | Questar Corporation | $10,105,000 | – | 398,291 | – | 0.50% | – |
| SCSC | New | Scansource, Inc. | $9,465,000 | – | 255,050 | – | 0.47% | – |
| LSTR | New | Landstar System, Inc. | $9,166,000 | – | 133,496 | – | 0.45% | – |
| FOE | New | Ferro Corporation | $8,944,000 | – | 668,473 | – | 0.44% | – |
| MG | New | Mistras Group, Inc. | $8,253,000 | – | 345,750 | – | 0.41% | – |
| IR | New | Ingersoll-Rand, PLC | $7,757,000 | – | 121,808 | – | 0.38% | – |
| ECHO | New | Echo Global Logistics, Inc. | $7,686,000 | – | 342,825 | – | 0.38% | – |
| CTO | New | Consolidated-Tomoka Land Co. | $7,522,000 | – | 158,459 | – | 0.37% | – |
| HALL | New | Hallmark Financial Services, I | $7,463,000 | – | 643,882 | – | 0.37% | – |
| FRPH | New | FRP Holdings, Inc. | $7,419,000 | – | 215,037 | – | 0.37% | – |
| CNXN | New | PC Connection, Inc. | $7,340,000 | – | 308,400 | – | 0.36% | – |
| CHH | New | Choice Hotels International, I | $7,297,000 | – | 153,233 | – | 0.36% | – |
| APD | New | Air Prod & Chemicals Inc | $7,253,000 | – | 51,060 | – | 0.36% | – |
| LNN | New | Lindsay Corp. | $7,225,000 | – | 106,465 | – | 0.36% | – |
| NCOM | New | National Commerce Corporation | $7,115,000 | – | 305,088 | – | 0.35% | – |
| THR | New | Thermon Group Holdings, Inc. | $7,086,000 | – | 368,875 | – | 0.35% | – |
| DHIL | New | Diamond Hill Investment Group, | $6,979,000 | – | 37,041 | – | 0.34% | – |
| SGBK | New | Stonegate Bank | $6,838,000 | – | 211,900 | – | 0.34% | – |
| FELE | New | Franklin Electric Co., Inc. | $6,832,000 | – | 206,720 | – | 0.34% | – |
| LABL | New | Multi-Color Corp | $6,569,000 | – | 103,609 | – | 0.32% | – |
| MDU | New | MDU Resources Group, Inc. | $6,353,000 | – | 264,707 | – | 0.31% | – |
| WHG | New | Westwood Holdings Group, Inc. | $6,199,000 | – | 119,671 | – | 0.31% | – |
| IPCC | New | Infinity Property and Casualty | $6,202,000 | – | 76,885 | – | 0.31% | – |
| SYBT | New | Stock Yards Bancorp, Inc. | $5,218,000 | – | 184,837 | – | 0.26% | – |
| ROIC | New | Retail Opportunity Investments | $4,954,000 | – | 228,625 | – | 0.24% | – |
| BANX | New | StoneCastle Financial Corp. | $4,948,000 | – | 269,775 | – | 0.24% | – |
| PAG | New | Penske Automotive Group Inc. | $4,916,000 | – | 156,275 | – | 0.24% | – |
| AHP | New | Ashford Hospitality Prime REIT | $4,748,000 | – | 335,792 | – | 0.24% | – |
| EPM | New | Evolution Petroleum Corporatio | $4,760,000 | – | 870,290 | – | 0.24% | – |
| KNX | New | Knight Transportation, Inc. | $4,299,000 | – | 161,720 | – | 0.21% | – |
| JWA | New | John Wiley & Sons, Inc. | $4,018,000 | – | 77,000 | – | 0.20% | – |
| TUP | New | Tupperware Brands Corporation | $3,864,000 | – | 68,650 | – | 0.19% | – |
| FNBCQ | New | First NBC Bank Holding Company | $3,765,000 | – | 224,265 | – | 0.19% | – |
| HOMB | New | Home BancShares, Inc. | $3,615,000 | – | 182,646 | – | 0.18% | – |
| NATI | New | National Instruments | $3,343,000 | – | 122,000 | – | 0.16% | – |
| AGN | New | Allergan PLC | $1,945,000 | – | 8,415 | – | 0.10% | – |
| OMC | New | Omnicom Group | $1,711,000 | – | 21,000 | – | 0.08% | – |
| XOM | New | Exxon Mobil Corporation | $1,647,000 | – | 17,566 | – | 0.08% | – |
| IBM | New | International Business Machine | $1,099,000 | – | 7,240 | – | 0.05% | – |
| UNP | New | Union Pacific Corp | $502,000 | – | 5,754 | – | 0.02% | – |
| GE | New | General Electric Company | $513,000 | – | 16,295 | – | 0.02% | – |
| NBTB | New | NBT Bancorp Inc | $440,000 | – | 15,356 | – | 0.02% | – |
| CLC | New | Clarcor Inc | $391,000 | – | 6,424 | – | 0.02% | – |
| CNMD | New | Conmed Corp | $338,000 | – | 7,087 | – | 0.02% | – |
| USB | New | US Bancorp | $314,000 | – | 7,781 | – | 0.02% | – |
| GLNV | New | Glenville Bank Hldg Co | $332,000 | – | 4,006 | – | 0.02% | – |
| T | New | A T & T Inc New | $319,000 | – | 7,383 | – | 0.02% | – |
| PFE | New | Pfizer Incorporated | $323,000 | – | 9,164 | – | 0.02% | – |
| AMGN | New | Amgen Incorporated | $291,000 | – | 1,914 | – | 0.01% | – |
| SJM | New | Smuckers, Jm | $267,000 | – | 1,753 | – | 0.01% | – |
| PG | New | Procter & Gamble | $244,000 | – | 2,880 | – | 0.01% | – |
| PEG | New | Pub Svc Ent Group Inc | $228,000 | – | 4,901 | – | 0.01% | – |
| VZ | New | Verizon Communications | $202,000 | – | 3,618 | – | 0.01% | – |
| NLNK | New | Newlink Genetics Corp | $139,000 | – | 12,321 | – | 0.01% | – |
Q4 2015
Q3 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ROST | Sell | Ross Stores, Inc. | $92,126,000 | -0.5% | 1,900,678 | -0.2% | 4.94% | +3.7% |
| MKL | Sell | Markel Corporation | $83,312,000 | -0.3% | 103,899 | -0.5% | 4.47% | +3.8% |
| CDW | Buy | CDW Corporation | $77,381,000 | +19.4% | 1,893,801 | +0.2% | 4.15% | +24.4% |
| BRO | Buy | Brown & Brown, Inc. | $64,815,000 | -5.7% | 2,092,842 | +0.1% | 3.48% | -1.8% |
| MD | Sell | MEDNAX, Inc. | $64,621,000 | -22.7% | 841,530 | -25.4% | 3.47% | -19.5% |
| IEX | Sell | IDEX Corporation | $61,559,000 | -9.3% | 863,378 | -0.0% | 3.30% | -5.5% |
| BAM | Buy | Brookfield Asset Management In | $60,397,000 | -9.6% | 1,921,019 | +0.4% | 3.24% | -5.8% |
| WTM | Sell | White Mountains Insurance Grou | $59,694,000 | +11.5% | 79,879 | -2.3% | 3.20% | +16.2% |
| SYK | Sell | Stryker Corporation | $54,420,000 | -11.1% | 578,316 | -9.7% | 2.92% | -7.4% |
| AZO | Sell | AutoZone, Inc. | $50,201,000 | +8.2% | 69,355 | -0.3% | 2.69% | +12.7% |
| EOG | Buy | EOG Resources, Inc. | $48,357,000 | -11.6% | 664,248 | +6.3% | 2.60% | -7.9% |
| KMX | Sell | CarMax, Inc. | $44,237,000 | -10.4% | 745,743 | -0.0% | 2.37% | -6.7% |
| ITW | Buy | Illinois Tool Works Inc. | $42,646,000 | -9.4% | 518,112 | +1.1% | 2.29% | -5.6% |
| XLNX | Sell | Xilinx, Inc. | $42,605,000 | -4.0% | 1,004,834 | -0.0% | 2.29% | 0.0% |
| SSB | Sell | South State Corporation | $38,083,000 | +0.6% | 495,420 | -0.5% | 2.04% | +4.9% |
| WAT | Sell | Waters Corporation | $37,356,000 | -7.9% | 316,014 | -0.0% | 2.00% | -4.1% |
| MTB | Buy | M&T Bank Corporation | $36,435,000 | +5.9% | 298,767 | +8.5% | 1.96% | +10.4% |
| YUM | Sell | YUM! Brands, Inc. | $36,004,000 | -11.3% | 450,327 | -0.0% | 1.93% | -7.6% |
| BEN | Buy | Franklin Resources, Inc. | $35,841,000 | -12.2% | 961,916 | +15.5% | 1.92% | -8.5% |
| DCI | Buy | Donaldson Company, Inc. | $34,190,000 | -19.7% | 1,217,597 | +2.4% | 1.84% | -16.3% |
| HOT | Buy | Starwood Hotels & Resorts Worl | $32,254,000 | -6.5% | 485,175 | +14.0% | 1.73% | -2.6% |
| OZRK | Sell | Bank of the Ozarks, Inc. | $30,382,000 | -5.2% | 694,288 | -0.9% | 1.63% | -1.3% |
| IPG | Sell | Interpublic Group of Companies | $30,267,000 | -0.8% | 1,582,165 | -0.1% | 1.62% | +3.4% |
| KNX | Sell | Knight Transportation, Inc. | $28,966,000 | -10.4% | 1,206,899 | -0.2% | 1.56% | -6.6% |
| MCHP | Sell | Microchip Technology Incorpora | $28,711,000 | -9.2% | 666,310 | -0.0% | 1.54% | -5.3% |
| FLIR | Buy | FLIR Systems, Inc. | $28,690,000 | -7.1% | 1,025,010 | +2.3% | 1.54% | -3.2% |
| MGRC | Buy | McGrath RentCorp | $28,129,000 | -9.9% | 1,053,930 | +2.7% | 1.51% | -6.1% |
| FWRD | Sell | Forward Air Corporation | $26,698,000 | -20.8% | 643,483 | -0.2% | 1.43% | -17.5% |
| MHK | Sell | Mohawk Industries, Inc. | $25,915,000 | -4.8% | 142,554 | -0.0% | 1.39% | -0.8% |
| GGG | Buy | Graco Inc. | $25,335,000 | -2.7% | 377,964 | +3.1% | 1.36% | +1.4% |
| TROW | Buy | T Rowe Price Group, Inc. | $24,330,000 | +45.7% | 350,065 | +62.9% | 1.31% | +51.9% |
| WTR | Sell | Aqua America, Inc. | $23,457,000 | +8.0% | 886,181 | -0.1% | 1.26% | +12.5% |
| L | Buy | Loews Corporation | $22,010,000 | -4.9% | 609,020 | +1.4% | 1.18% | -0.9% |
| BRKB | Buy | Berkshire Hathaway Inc. B | $18,387,000 | -3.9% | 141,007 | +0.3% | 0.99% | +0.1% |
| PNFP | Sell | Pinnacle Financial Partners, I | $18,387,000 | -9.5% | 372,129 | -0.5% | 0.99% | -5.7% |
| FLO | Buy | Flowers Foods, Inc. | $16,690,000 | +20.5% | 674,625 | +3.0% | 0.90% | +25.7% |
| DSW | Buy | DSW Inc. | $16,394,000 | +159.4% | 647,744 | +242.0% | 0.88% | +169.9% |
| DLR | Buy | Digital Realty Trust, Inc. | $15,746,000 | +2.8% | 241,060 | +4.9% | 0.84% | +7.1% |
| BH | Buy | Biglari Holdings Inc. | $15,041,000 | -9.8% | 41,124 | +2.1% | 0.81% | -6.1% |
| FOSL | Buy | Fossil Group, Inc. | $14,821,000 | -11.4% | 265,225 | +10.0% | 0.80% | -7.7% |
| AJG | Buy | Arthur J. Gallagher & Co. | $13,453,000 | -9.4% | 325,887 | +3.8% | 0.72% | -5.6% |
| ECOL | Buy | US Ecology, Inc. | $12,330,000 | -7.2% | 282,479 | +3.6% | 0.66% | -3.4% |
| FN | Buy | Fabrinet | $9,795,000 | +0.1% | 534,356 | +2.3% | 0.53% | +4.4% |
| RSG | Buy | Republic Services, Inc. | $8,762,000 | +11.7% | 212,676 | +6.2% | 0.47% | +16.3% |
| OB | Buy | OneBeacon Insurance Group, Ltd | $8,611,000 | +26.8% | 613,317 | +31.0% | 0.46% | +32.0% |
| MAT | Buy | Mattel, Inc. | $8,251,000 | -11.8% | 391,762 | +7.6% | 0.44% | -8.1% |
| STR | Buy | Questar Corporation | $7,964,000 | +22.8% | 410,316 | +32.3% | 0.43% | +27.8% |
| MIC | Buy | Macquarie Infrastructure Compa | $6,935,000 | -0.8% | 92,886 | +9.7% | 0.37% | +3.3% |
| FRPH | Buy | FRP Holdings, Inc. | $6,106,000 | +5.1% | 202,572 | +13.1% | 0.33% | +9.7% |
| NCOM | Buy | National Commerce Corporation | $6,057,000 | +23.8% | 252,600 | +33.2% | 0.32% | +29.0% |
| EPM | Buy | Evolution Petroleum Corporatio | $5,883,000 | -15.3% | 1,059,937 | +0.6% | 0.32% | -11.7% |
| MG | Buy | Mistras Group, Inc. | $5,694,000 | -14.0% | 443,150 | +27.0% | 0.31% | -10.3% |
| FOE | Buy | Ferro Corporation | $5,653,000 | +41.2% | 516,300 | +116.4% | 0.30% | +47.1% |
| JOY | New | Joy Global, Inc. | $5,620,000 | – | 376,451 | – | 0.30% | – |
| ARG | Buy | Airgas, Inc. | $4,977,000 | +1076.6% | 55,715 | +1292.9% | 0.27% | +1113.6% |
| BANX | Sell | StoneCastle Financial Corp. | $4,918,000 | -3.5% | 292,401 | -0.8% | 0.26% | +0.4% |
| CNXN | Buy | PC Connection, Inc. | $4,883,000 | +2.2% | 235,575 | +22.0% | 0.26% | +6.5% |
| SGBK | Buy | Stonegate Bank | $4,562,000 | +34.2% | 143,400 | +25.1% | 0.24% | +40.0% |
| VIVO | Buy | Meridian Bioscience, Inc. | $4,530,000 | -0.8% | 264,900 | +8.2% | 0.24% | +3.4% |
| ECHO | Buy | Echo Global Logistics, Inc. | $4,210,000 | -24.1% | 214,800 | +26.5% | 0.23% | -21.0% |
| MDU | New | MDU Resources Group, Inc. | $4,056,000 | – | 235,803 | – | 0.22% | – |
| WHG | Buy | Westwood Holdings Group, Inc. | $3,668,000 | -5.3% | 67,496 | +3.8% | 0.20% | -1.0% |
| HWCC | Buy | Houston Wire & Cable Company | $3,577,000 | -35.3% | 564,212 | +1.2% | 0.19% | -32.6% |
| DHIL | Sell | Diamond Hill Investment Group, | $3,504,000 | -6.9% | 18,832 | -0.1% | 0.19% | -3.1% |
| HOMB | Buy | Home BancShares, Inc. | $3,462,000 | +13.6% | 85,488 | +2.6% | 0.19% | +18.5% |
| TUP | Buy | Tupperware Brands Corporation | $3,397,000 | -22.9% | 68,650 | +0.6% | 0.18% | -19.8% |
| JBT | Sell | JBT Corporation | $3,194,000 | -1.2% | 83,500 | -2.9% | 0.17% | +2.4% |
| DESTQ | Buy | Destination Maternity Corporat | $2,535,000 | -18.7% | 274,894 | +2.8% | 0.14% | -15.5% |
| AMSF | Sell | AMERISAFE, Inc. | $2,044,000 | -9.7% | 41,100 | -14.6% | 0.11% | -6.0% |
| FUR | Sell | Winthrop Realty Trust | $1,987,000 | -43.9% | 138,382 | -40.8% | 0.11% | -41.2% |
| HCC | Sell | HCC Insurance Holdings, Inc. | $1,343,000 | -81.4% | 17,341 | -81.6% | 0.07% | -80.6% |
| PATI | Sell | Patriot Transportation Holding | $1,289,000 | -9.5% | 53,613 | -7.2% | 0.07% | -5.5% |
| IBM | Sell | International Business Machine | $1,084,000 | -12.7% | 7,480 | -2.0% | 0.06% | -9.4% |
| GE | Buy | General Electric Company | $459,000 | 0.0% | 18,190 | +5.2% | 0.02% | +4.2% |
| CVX | Sell | Chevron Corporation | $284,000 | -19.5% | 3,603 | -1.6% | 0.02% | -16.7% |
| T | Buy | A T & T Inc New | $241,000 | -5.5% | 7,383 | +2.8% | 0.01% | 0.0% |
| PG | Buy | Procter & Gamble | $228,000 | -5.4% | 3,168 | +2.9% | 0.01% | 0.0% |
| PEG | New | Pub Svc Ent Group Inc | $207,000 | – | 4,901 | – | 0.01% | – |
| VHT | New | Vanguard Health Care Index Funetf | $205,000 | – | 1,671 | – | 0.01% | – |
| DNRCQ | New | Denbury Resources, Inc. | $26,000 | – | 10,707 | – | 0.00% | – |
| HVB | Exit | Hudson Valley Holding Corp. | $0 | – | -158,000 | – | -0.23% | – |
Q2 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ROST | New | Ross Stores, Inc. | $92,553,000 | – | 1,903,981 | – | 4.77% | – |
| MD | New | MEDNAX, Inc. | $83,623,000 | – | 1,128,364 | – | 4.31% | – |
| MKL | New | Markel Corporation | $83,603,000 | – | 104,415 | – | 4.31% | – |
| BRO | New | Brown & Brown, Inc. | $68,731,000 | – | 2,091,637 | – | 3.54% | – |
| IEX | New | IDEX Corporation | $67,867,000 | – | 863,672 | – | 3.50% | – |
| BAM | New | Brookfield Asset Management In | $66,811,000 | – | 1,912,710 | – | 3.44% | – |
| CDW | New | CDW Corporation | $64,798,000 | – | 1,890,246 | – | 3.34% | – |
| SYK | New | Stryker Corporation | $61,238,000 | – | 640,763 | – | 3.16% | – |
| EOG | New | EOG Resources, Inc. | $54,689,000 | – | 624,665 | – | 2.82% | – |
| WTM | New | White Mountains Insurance Grou | $53,539,000 | – | 81,747 | – | 2.76% | – |
| KMX | New | CarMax, Inc. | $49,391,000 | – | 745,968 | – | 2.54% | – |
| ITW | New | Illinois Tool Works Inc. | $47,058,000 | – | 512,667 | – | 2.42% | – |
| AZO | New | AutoZone, Inc. | $46,412,000 | – | 69,594 | – | 2.39% | – |
| XLNX | New | Xilinx, Inc. | $44,395,000 | – | 1,005,325 | – | 2.29% | – |
| DCI | New | Donaldson Company, Inc. | $42,578,000 | – | 1,189,322 | – | 2.19% | – |
| BRKA | New | Berkshire Hathaway Inc. A | $42,199,000 | – | 206 | – | 2.17% | – |
| BEN | New | Franklin Resources, Inc. | $40,833,000 | – | 832,826 | – | 2.10% | – |
| WAT | New | Waters Corporation | $40,574,000 | – | 316,048 | – | 2.09% | – |
| YUM | New | YUM! Brands, Inc. | $40,575,000 | – | 450,435 | – | 2.09% | – |
| SSB | New | South State Corporation | $37,840,000 | – | 497,960 | – | 1.95% | – |
| HOT | New | Starwood Hotels & Resorts Worl | $34,508,000 | – | 425,558 | – | 1.78% | – |
| MTB | New | M&T Bank Corporation | $34,396,000 | – | 275,323 | – | 1.77% | – |
| FWRD | New | Forward Air Corporation | $33,712,000 | – | 645,083 | – | 1.74% | – |
| KNX | New | Knight Transportation, Inc. | $32,321,000 | – | 1,208,724 | – | 1.66% | – |
| OZRK | New | Bank of the Ozarks, Inc. | $32,063,000 | – | 700,838 | – | 1.65% | – |
| MCHP | New | Microchip Technology Incorpora | $31,612,000 | – | 666,560 | – | 1.63% | – |
| MGRC | New | McGrath RentCorp | $31,216,000 | – | 1,025,825 | – | 1.61% | – |
| FLIR | New | FLIR Systems, Inc. | $30,894,000 | – | 1,002,389 | – | 1.59% | – |
| IPG | New | Interpublic Group of Companies | $30,523,000 | – | 1,583,975 | – | 1.57% | – |
| MHK | New | Mohawk Industries, Inc. | $27,215,000 | – | 142,564 | – | 1.40% | – |
| PDCO | New | Patterson Companies, Inc. | $26,320,000 | – | 541,000 | – | 1.36% | – |
| GGG | New | Graco Inc. | $26,028,000 | – | 366,433 | – | 1.34% | – |
| L | New | Loews Corporation | $23,134,000 | – | 600,735 | – | 1.19% | – |
| WTR | New | Aqua America, Inc. | $21,727,000 | – | 887,196 | – | 1.12% | – |
| PNFP | New | Pinnacle Financial Partners, I | $20,325,000 | – | 373,829 | – | 1.05% | – |
| BRKB | New | Berkshire Hathaway Inc. B | $19,131,000 | – | 140,553 | – | 0.99% | – |
| FOSL | New | Fossil Group, Inc. | $16,723,000 | – | 241,100 | – | 0.86% | – |
| TROW | New | T Rowe Price Group, Inc. | $16,703,000 | – | 214,885 | – | 0.86% | – |
| BH | New | Biglari Holdings Inc. | $16,668,000 | – | 40,284 | – | 0.86% | – |
| DLR | New | Digital Realty Trust, Inc. | $15,320,000 | – | 229,760 | – | 0.79% | – |
| AJG | New | Arthur J. Gallagher & Co. | $14,845,000 | – | 313,850 | – | 0.76% | – |
| FLO | New | Flowers Foods, Inc. | $13,849,000 | – | 654,800 | – | 0.71% | – |
| FCEA | New | Forest City Enterprises, Inc. | $13,342,000 | – | 603,700 | – | 0.69% | – |
| ECOL | New | US Ecology, Inc. | $13,290,000 | – | 272,779 | – | 0.68% | – |
| JWA | New | John Wiley & Sons, Inc. | $12,252,000 | – | 225,350 | – | 0.63% | – |
| FN | New | Fabrinet | $9,787,000 | – | 522,556 | – | 0.50% | – |
| KEYS | New | Keysight Technologies Inc. | $9,357,000 | – | 300,001 | – | 0.48% | – |
| MAT | New | Mattel, Inc. | $9,355,000 | – | 364,137 | – | 0.48% | – |
| ACIW | New | ACI Worldwide, Inc. | $8,893,000 | – | 361,926 | – | 0.46% | – |
| RSG | New | Republic Services, Inc. | $7,841,000 | – | 200,176 | – | 0.40% | – |
| HCC | New | HCC Insurance Holdings, Inc. | $7,228,000 | – | 94,066 | – | 0.37% | – |
| MIC | New | Macquarie Infrastructure Compa | $6,994,000 | – | 84,641 | – | 0.36% | – |
| EPM | New | Evolution Petroleum Corporatio | $6,944,000 | – | 1,053,646 | – | 0.36% | – |
| OB | New | OneBeacon Insurance Group, Ltd | $6,792,000 | – | 468,066 | – | 0.35% | – |
| MG | New | Mistras Group, Inc. | $6,621,000 | – | 348,850 | – | 0.34% | – |
| STR | New | Questar Corporation | $6,484,000 | – | 310,091 | – | 0.33% | – |
| FNBCQ | New | First NBC Bank Holding Company | $6,407,000 | – | 177,975 | – | 0.33% | – |
| DSW | New | DSW Inc. | $6,321,000 | – | 189,422 | – | 0.33% | – |
| IPCC | New | Infinity Property and Casualty | $5,831,000 | – | 76,885 | – | 0.30% | – |
| FRPH | New | FRP Holdings, Inc. | $5,808,000 | – | 179,102 | – | 0.30% | – |
| HALL | New | Hallmark Financial Services, I | $5,608,000 | – | 492,772 | – | 0.29% | – |
| ECHO | New | Echo Global Logistics, Inc. | $5,546,000 | – | 169,800 | – | 0.29% | – |
| HWCC | New | Houston Wire & Cable Company | $5,530,000 | – | 557,412 | – | 0.28% | – |
| BANX | New | StoneCastle Financial Corp. | $5,097,000 | – | 294,651 | – | 0.26% | – |
| NCOM | New | National Commerce Corporation | $4,892,000 | – | 189,597 | – | 0.25% | – |
| LDR | New | Landauer, Inc. | $4,856,000 | – | 136,256 | – | 0.25% | – |
| CNXN | New | PC Connection, Inc. | $4,777,000 | – | 193,075 | – | 0.25% | – |
| VIVO | New | Meridian Bioscience, Inc. | $4,565,000 | – | 244,900 | – | 0.24% | – |
| HVB | New | Hudson Valley Holding Corp. | $4,457,000 | – | 158,000 | – | 0.23% | – |
| TUP | New | Tupperware Brands Corporation | $4,405,000 | – | 68,250 | – | 0.23% | – |
| SWN | New | Southwestern Energy Company | $4,046,000 | – | 178,000 | – | 0.21% | – |
| FOE | New | Ferro Corporation | $4,003,000 | – | 238,551 | – | 0.21% | – |
| WHG | New | Westwood Holdings Group, Inc. | $3,872,000 | – | 64,996 | – | 0.20% | – |
| CTO | New | Consolidated-Tomoka Land Co. | $3,785,000 | – | 65,665 | – | 0.20% | – |
| DHIL | New | Diamond Hill Investment Group, | $3,762,000 | – | 18,842 | – | 0.19% | – |
| NATI | New | National Instruments | $3,594,000 | – | 122,000 | – | 0.18% | – |
| FUR | New | Winthrop Realty Trust | $3,541,000 | – | 233,732 | – | 0.18% | – |
| SGBK | New | Stonegate Bank | $3,400,000 | – | 114,600 | – | 0.18% | – |
| JBT | New | JBT Corporation | $3,233,000 | – | 86,000 | – | 0.17% | – |
| DESTQ | New | Destination Maternity Corporat | $3,117,000 | – | 267,300 | – | 0.16% | – |
| ALTR | New | Altera Corporation | $3,123,000 | – | 61,000 | – | 0.16% | – |
| HOMB | New | Home BancShares, Inc. | $3,047,000 | – | 83,353 | – | 0.16% | – |
| AGN | New | Allergan PLC | $2,554,000 | – | 8,415 | – | 0.13% | – |
| AMSF | New | AMERISAFE, Inc. | $2,264,000 | – | 48,100 | – | 0.12% | – |
| MKC | New | McCormick & Company | $2,206,000 | – | 27,250 | – | 0.11% | – |
| AEO | New | American Eagle Outfitters, Inc | $2,027,000 | – | 117,697 | – | 0.10% | – |
| XOM | New | Exxon Mobil Corporation | $1,589,000 | – | 19,099 | – | 0.08% | – |
| SIAL | New | Sigma-Aldrich Corporation | $1,533,000 | – | 11,000 | – | 0.08% | – |
| PATI | New | Patriot Transportation Holding | $1,424,000 | – | 57,789 | – | 0.07% | – |
| IBM | New | International Business Machine | $1,242,000 | – | 7,633 | – | 0.06% | – |
| UNP | New | Union Pacific Corp | $549,000 | – | 5,754 | – | 0.03% | – |
| NLNK | New | Newlink Genetics Corp | $545,000 | – | 12,321 | – | 0.03% | – |
| NBTB | New | NBT Bancorp Inc | $517,000 | – | 19,746 | – | 0.03% | – |
| GE | New | General Electric Company | $459,000 | – | 17,292 | – | 0.02% | – |
| ARG | New | Airgas, Inc. | $423,000 | – | 4,000 | – | 0.02% | – |
| CLC | New | Clarcor Inc | $400,000 | – | 6,424 | – | 0.02% | – |
| CNMD | New | Conmed Corp | $413,000 | – | 7,087 | – | 0.02% | – |
| CVX | New | Chevron Corporation | $353,000 | – | 3,663 | – | 0.02% | – |
| GLNV | New | Glenville Bank Hldg Co | $357,000 | – | 4,006 | – | 0.02% | – |
| USB | New | US Bancorp | $318,000 | – | 7,331 | – | 0.02% | – |
| PFE | New | Pfizer Incorporated | $314,000 | – | 9,364 | – | 0.02% | – |
| AMGN | New | Amgen Incorporated | $294,000 | – | 1,914 | – | 0.02% | – |
| AAPL | New | Apple Inc | $260,000 | – | 2,072 | – | 0.01% | – |
| T | New | A T & T Inc New | $255,000 | – | 7,185 | – | 0.01% | – |
| PG | New | Procter & Gamble | $241,000 | – | 3,079 | – | 0.01% | – |
| SJM | New | Smuckers, Jm | $201,000 | – | 1,853 | – | 0.01% | – |
| TRST | New | Trustco Bank Corp | $144,000 | – | 20,533 | – | 0.01% | – |
Q4 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| Exit | NBNK Investments, PLC | $0 | – | -41,000 | – | -0.00% | – | |
| CACB | Exit | Cascade Bancorp | $0 | – | -10,000 | – | -0.00% | – |
| TRST | Exit | Trustco Bank Corp | $0 | – | -20,533 | – | -0.01% | – |
| KEY | Exit | Keycorp New | $0 | – | -11,181 | – | -0.01% | – |
| PG | Exit | Procter & Gamble | $0 | – | -2,608 | – | -0.01% | – |
| GLNV | Exit | Glenville Bank Hldg Co | $0 | – | -2,756 | – | -0.01% | – |
| SYBT | Exit | Stock Yards Bancorp, Inc. | $0 | – | -8,626 | – | -0.01% | – |
| CNMD | Exit | Conmed Corp | $0 | – | -7,087 | – | -0.01% | – |
| AMGN | Exit | Amgen Incorporated | $0 | – | -1,914 | – | -0.02% | – |
| NLNK | Exit | Newlink Genetics Corp | $0 | – | -12,321 | – | -0.02% | – |
| NBTB | Exit | NBT Bancorp Inc | $0 | – | -13,095 | – | -0.02% | – |
| PFE | Exit | Pfizer Incorporated | $0 | – | -10,099 | – | -0.02% | – |
| USB | Exit | US Bancorp | $0 | – | -7,331 | – | -0.02% | – |
| MTSC | Exit | MTS Systems | $0 | – | -4,550 | – | -0.02% | – |
| T | Exit | A T & T Inc New | $0 | – | -8,865 | – | -0.02% | – |
| CLC | Exit | Clarcor Inc | $0 | – | -6,424 | – | -0.02% | – |
| CVX | Exit | Chevron Corporation | $0 | – | -3,663 | – | -0.02% | – |
| GE | Exit | General Electric Company | $0 | – | -22,517 | – | -0.03% | – |
| UNP | Exit | Union Pacific Corp | $0 | – | -5,754 | – | -0.04% | – |
| IBM | Exit | International Business Machine | $0 | – | -7,490 | – | -0.08% | – |
| WU | Exit | Western Union | $0 | – | -101,936 | – | -0.09% | – |
| MKC | Exit | McCormick & Co. | $0 | – | -27,250 | – | -0.10% | – |
| XOM | Exit | Exxon Mobil Corporation | $0 | – | -20,185 | – | -0.10% | – |
| B108PS | Exit | Actavis, PLC | $0 | – | -8,400 | – | -0.11% | – |
| BANX | Exit | Stonecastle Financial Corp. | $0 | – | -81,901 | – | -0.11% | – |
| USPH | Exit | U.S. Physical Therapy Inc. | $0 | – | -61,045 | – | -0.12% | – |
| HOMB | Exit | Home Bancshares, Inc. | $0 | – | -76,503 | – | -0.12% | – |
| CTO | Exit | Consolidated Tomoka Land Co. | $0 | – | -51,955 | – | -0.14% | – |
| JBT | Exit | John Bean Technologies Corpora | $0 | – | -91,000 | – | -0.14% | – |
| AMSF | Exit | Amerisafe, Inc. | $0 | – | -66,100 | – | -0.14% | – |
| ALTR | Exit | Altera Corp | $0 | – | -81,000 | – | -0.16% | – |
| HWCC | Exit | Houston Wire & Cable Company | $0 | – | -247,512 | – | -0.16% | – |
| RST | Exit | Rosetta Stone | $0 | – | -416,025 | – | -0.19% | – |
| SIAL | Exit | Sigma Aldrich Corp. | $0 | – | -25,000 | – | -0.19% | – |
| HVB | Exit | Hudson Valley Holding Corp | $0 | – | -192,750 | – | -0.19% | – |
| WHG | Exit | Westwood Holdings Group, Inc. | $0 | – | -63,596 | – | -0.20% | – |
| NATI | Exit | National Instruments | $0 | – | -122,000 | – | -0.21% | – |
| MG | Exit | Mistras Group, Inc. | $0 | – | -187,500 | – | -0.21% | – |
| OB | Exit | OneBeacon | $0 | – | -253,580 | – | -0.22% | – |
| DESTQ | Exit | Destination Maternity | $0 | – | -264,975 | – | -0.23% | – |
| CNXN | Exit | PC Connection, Inc. | $0 | – | -193,075 | – | -0.23% | – |
| LDR | Exit | Landauer Inc | $0 | – | -136,256 | – | -0.25% | – |
| TUP | Exit | Tupperware Brands Corp. | $0 | – | -66,000 | – | -0.25% | – |
| HALL | Exit | Hallmark Financial Services, I | $0 | – | -460,325 | – | -0.26% | – |
| IPCC | Exit | Infinity Property & Casualty C | $0 | – | -77,285 | – | -0.27% | – |
| ECHO | Exit | Echo Global Logistics, Inc. | $0 | – | -210,775 | – | -0.28% | – |
| FNBCQ | Exit | First NBC Bank Holding Company | $0 | – | -160,475 | – | -0.29% | – |
| DSW | Exit | DSW, Inc. | $0 | – | -190,522 | – | -0.32% | – |
| PATR | Exit | Patriot Transportation Holding | $0 | – | -172,677 | – | -0.32% | – |
| FUR | Exit | Winthrop Realty Trust | $0 | – | -408,415 | – | -0.34% | – |
| SWN | Exit | Southwestern Energy Co | $0 | – | -178,000 | – | -0.34% | – |
| EPM | Exit | Evolution Petroleum Corporatio | $0 | – | -677,671 | – | -0.34% | – |
| ACIW | Exit | ACI Worldwide, Inc. | $0 | – | -346,126 | – | -0.36% | – |
| FN | Exit | Fabrinet | $0 | – | -452,231 | – | -0.37% | – |
| DOC | Exit | Physicians Realty Trust | $0 | – | -496,700 | – | -0.38% | – |
| ECOL | Exit | US Ecology, Inc. | $0 | – | -161,769 | – | -0.42% | – |
| STR | Exit | Questar Corp | $0 | – | -382,325 | – | -0.47% | – |
| FLO | Exit | Flowers Foods | $0 | – | -604,650 | – | -0.62% | – |
| FCEA | Exit | Forest City Enterprises Class | $0 | – | -638,700 | – | -0.69% | – |
| JWA | Exit | John Wiley & Sons | $0 | – | -225,350 | – | -0.70% | – |
| MAT | Exit | Mattel Inc. | $0 | – | -420,109 | – | -0.71% | – |
| AJG | Exit | Arthur J Gallagher & Co. | $0 | – | -299,690 | – | -0.75% | – |
| PNFP | Exit | Pinnacle Financial Partners | $0 | – | -397,525 | – | -0.80% | – |
| BH | Exit | Biglari Holdings Inc. | $0 | – | -43,305 | – | -0.82% | – |
| TROW | Exit | T Rowe Price Group, Inc. | $0 | – | -188,025 | – | -0.82% | – |
| DLR | Exit | Digital Realty Trust Inc. | $0 | – | -289,300 | – | -1.00% | – |
| BRKB | Exit | Berkshire Hathaway B | $0 | – | -140,333 | – | -1.08% | – |
| MHK | Exit | Mohawk Industries | $0 | – | -144,364 | – | -1.08% | – |
| WTR | Exit | Aqua America Inc | $0 | – | -909,253 | – | -1.19% | – |
| OZRK | Exit | Bank of the Ozarks, Inc. | $0 | – | -706,500 | – | -1.24% | – |
| PDCO | Exit | Patterson Companies Inc. | $0 | – | -541,000 | – | -1.24% | – |
| AEO | Exit | American Eagle Outfitters | $0 | – | -1,669,972 | – | -1.34% | – |
| GGG | Exit | Graco | $0 | – | -342,108 | – | -1.38% | – |
| MTB | Exit | M & T Bank Corp | $0 | – | -225,705 | – | -1.54% | – |
| SSB | Exit | South State Corporation | $0 | – | -499,110 | – | -1.55% | – |
| L | Exit | Loews Corp | $0 | – | -692,956 | – | -1.60% | – |
| XLNX | Exit | Xilinx Inc | $0 | – | -698,734 | – | -1.64% | – |
| IPG | Exit | Interpublic Group of Companies | $0 | – | -1,615,725 | – | -1.64% | – |
| FWRD | Exit | Forward Air | $0 | – | -661,316 | – | -1.64% | – |
| PL | Exit | Protective Life Corp. | $0 | – | -432,100 | – | -1.66% | – |
| BBBY | Exit | Bed Bath and Beyond | $0 | – | -458,632 | – | -1.67% | – |
| FLIR | Exit | FLIR Systems, Inc. | $0 | – | -1,006,964 | – | -1.75% | – |
| MCHP | Exit | Microchip Technology Inc. | $0 | – | -675,410 | – | -1.77% | – |
| YUM | Exit | Yum Brands | $0 | – | -453,057 | – | -1.81% | – |
| HOT | Exit | Starwood Hotels Resorts | $0 | – | -422,770 | – | -1.95% | – |
| AZO | Exit | Autozone Inc | $0 | – | -69,823 | – | -1.97% | – |
| MGRC | Exit | McGrath Rentcorp | $0 | – | -1,049,296 | – | -1.99% | – |
| WAT | Exit | Waters Corp. | $0 | – | -376,191 | – | -2.07% | – |
| KNX | Exit | Knight Transportation Inc. | $0 | – | -1,403,140 | – | -2.13% | – |
| KMX | Exit | Carmax | $0 | – | -850,064 | – | -2.19% | – |
| BRKA | Exit | Berkshire Hathaway A | $0 | – | -206 | – | -2.36% | – |
| ITW | Exit | Illinois Tool Works | $0 | – | -517,548 | – | -2.42% | – |
| BEN | Exit | Franklin Resources | $0 | – | -817,203 | – | -2.48% | – |
| DCI | Exit | Donaldson Co., Inc. | $0 | – | -1,108,672 | – | -2.50% | – |
| SYK | Exit | Stryker Corp | $0 | – | -651,422 | – | -2.92% | – |
| CDW | Exit | CDW Corp. | $0 | – | -1,739,731 | – | -3.00% | – |
| WTM | Exit | White Mtns Insurance | $0 | – | -87,144 | – | -3.04% | – |
| BAM | Exit | Brookfield Asset Management | $0 | – | -1,294,118 | – | -3.23% | – |
| EOG | Exit | EOG Resources Inc. | $0 | – | -619,888 | – | -3.40% | – |
| IEX | Exit | Idex Corporation | $0 | – | -875,236 | – | -3.51% | – |
| MD | Exit | Mednax Inc. | $0 | – | -1,171,406 | – | -3.56% | – |
| BRO | Exit | Brown & Brown Inc. | $0 | – | -2,106,216 | – | -3.76% | – |
| MKL | Exit | Markel Corp | $0 | – | -113,274 | – | -4.00% | – |
| ROST | Exit | Ross Stores Inc. | $0 | – | -1,134,866 | – | -4.76% | – |
Q3 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ROST | Buy | Ross Stores Inc. | $85,773,000 | +17.3% | 1,134,866 | +2.7% | 4.76% | +20.2% |
| MKL | Sell | Markel Corp | $72,059,000 | -3.3% | 113,274 | -0.3% | 4.00% | -0.9% |
| BRO | Sell | Brown & Brown Inc. | $67,715,000 | +4.5% | 2,106,216 | -0.2% | 3.76% | +6.9% |
| MD | Buy | Mednax Inc. | $64,216,000 | -5.7% | 1,171,406 | +0.1% | 3.56% | -3.4% |
| IEX | Sell | Idex Corporation | $63,341,000 | -11.9% | 875,236 | -1.7% | 3.51% | -9.7% |
| EOG | Sell | EOG Resources Inc. | $61,381,000 | -15.6% | 619,888 | -0.4% | 3.40% | -13.6% |
| BAM | Sell | Brookfield Asset Management | $58,184,000 | +1.9% | 1,294,118 | -0.3% | 3.23% | +4.3% |
| WTM | Sell | White Mtns Insurance | $54,907,000 | +3.3% | 87,144 | -0.2% | 3.04% | +5.8% |
| CDW | Buy | CDW Corp. | $54,019,000 | +2.6% | 1,739,731 | +5.3% | 3.00% | +5.1% |
| SYK | Sell | Stryker Corp | $52,602,000 | -4.4% | 651,422 | -0.1% | 2.92% | -2.1% |
| DCI | Buy | Donaldson Co., Inc. | $45,045,000 | -3.6% | 1,108,672 | +0.4% | 2.50% | -1.3% |
| BEN | Sell | Franklin Resources | $44,627,000 | -5.7% | 817,203 | -0.2% | 2.48% | -3.5% |
| ITW | Sell | Illinois Tool Works | $43,691,000 | -4.5% | 517,548 | -0.9% | 2.42% | -2.2% |
| BRKA | Sell | Berkshire Hathaway A | $42,621,000 | +8.4% | 206 | -0.5% | 2.36% | +11.0% |
| KMX | Sell | Carmax | $39,485,000 | -10.8% | 850,064 | -0.1% | 2.19% | -8.7% |
| KNX | Sell | Knight Transportation Inc. | $38,432,000 | +14.0% | 1,403,140 | -1.1% | 2.13% | +16.7% |
| WAT | Buy | Waters Corp. | $37,288,000 | -4.8% | 376,191 | +0.3% | 2.07% | -2.5% |
| MGRC | Sell | McGrath Rentcorp | $35,886,000 | -7.4% | 1,049,296 | -0.5% | 1.99% | -5.2% |
| AZO | Buy | Autozone Inc | $35,586,000 | -4.8% | 69,823 | +0.1% | 1.97% | -2.6% |
| HOT | Sell | Starwood Hotels Resorts | $35,179,000 | +2.8% | 422,770 | -0.1% | 1.95% | +5.3% |
| YUM | Sell | Yum Brands | $32,611,000 | -11.6% | 453,057 | -0.3% | 1.81% | -9.5% |
| MCHP | Sell | Microchip Technology Inc. | $31,900,000 | -3.3% | 675,410 | -0.1% | 1.77% | -1.0% |
| FLIR | Sell | FLIR Systems, Inc. | $31,558,000 | -10.0% | 1,006,964 | -0.3% | 1.75% | -7.8% |
| BBBY | Sell | Bed Bath and Beyond | $30,192,000 | +7.4% | 458,632 | -6.4% | 1.67% | +10.0% |
| FWRD | Sell | Forward Air | $29,647,000 | -7.1% | 661,316 | -0.8% | 1.64% | -4.8% |
| XLNX | Buy | Xilinx Inc | $29,591,000 | -10.1% | 698,734 | +0.5% | 1.64% | -7.9% |
| IPG | Sell | Interpublic Group of Companies | $29,600,000 | -6.9% | 1,615,725 | -0.9% | 1.64% | -4.7% |
| L | Sell | Loews Corp | $28,869,000 | -6.1% | 692,956 | -0.8% | 1.60% | -3.8% |
| SSB | Buy | South State Corporation | $27,910,000 | -8.0% | 499,110 | +0.4% | 1.55% | -5.7% |
| MTB | Sell | M & T Bank Corp | $27,827,000 | -0.7% | 225,705 | -0.1% | 1.54% | +1.7% |
| GGG | Sell | Graco | $24,967,000 | -6.6% | 342,108 | -0.0% | 1.38% | -4.4% |
| AEO | Buy | American Eagle Outfitters | $24,248,000 | +31.4% | 1,669,972 | +1.5% | 1.34% | +34.6% |
| OZRK | Buy | Bank of the Ozarks, Inc. | $22,269,000 | -5.5% | 706,500 | +0.3% | 1.24% | -3.2% |
| WTR | Buy | Aqua America Inc | $21,395,000 | -10.2% | 909,253 | +0.1% | 1.19% | -8.1% |
| MHK | Sell | Mohawk Industries | $19,463,000 | -4.6% | 144,364 | -2.1% | 1.08% | -2.4% |
| BRKB | Buy | Berkshire Hathaway B | $19,386,000 | +9.5% | 140,333 | +0.4% | 1.08% | +12.2% |
| DLR | Sell | Digital Realty Trust Inc. | $18,047,000 | +6.6% | 289,300 | -0.3% | 1.00% | +9.3% |
| TROW | Buy | T Rowe Price Group, Inc. | $14,741,000 | +39.7% | 188,025 | +50.4% | 0.82% | +43.1% |
| BH | Buy | Biglari Holdings Inc. | $14,713,000 | +5.7% | 43,305 | +31.5% | 0.82% | +8.2% |
| PNFP | Sell | Pinnacle Financial Partners | $14,351,000 | -8.9% | 397,525 | -0.3% | 0.80% | -6.7% |
| AJG | Buy | Arthur J Gallagher & Co. | $13,594,000 | -2.5% | 299,690 | +0.2% | 0.75% | -0.1% |
| MAT | Buy | Mattel Inc. | $12,876,000 | -5.8% | 420,109 | +19.8% | 0.71% | -3.5% |
| FLO | Buy | Flowers Foods | $11,101,000 | +79.8% | 604,650 | +106.5% | 0.62% | +84.4% |
| STR | Buy | Questar Corp | $8,522,000 | -5.4% | 382,325 | +5.2% | 0.47% | -3.1% |
| ECOL | Buy | US Ecology, Inc. | $7,564,000 | -4.2% | 161,769 | +0.2% | 0.42% | -2.1% |
| DOC | Sell | Physicians Realty Trust | $6,815,000 | -5.1% | 496,700 | -0.4% | 0.38% | -2.8% |
| FN | Buy | Fabrinet | $6,603,000 | -16.6% | 452,231 | +17.7% | 0.37% | -14.7% |
| ACIW | Buy | ACI Worldwide, Inc. | $6,493,000 | +1.6% | 346,126 | +202.4% | 0.36% | +4.0% |
| EPM | Buy | Evolution Petroleum Corporatio | $6,221,000 | +4.2% | 677,671 | +24.3% | 0.34% | +6.8% |
| FUR | Sell | Winthrop Realty Trust | $6,155,000 | -11.0% | 408,415 | -9.4% | 0.34% | -9.1% |
| PATR | Sell | Patriot Transportation Holding | $5,857,000 | -3.1% | 172,677 | -0.1% | 0.32% | -0.6% |
| DSW | Buy | DSW, Inc. | $5,737,000 | +72.0% | 190,522 | +59.6% | 0.32% | +75.7% |
| FNBCQ | Sell | First NBC Bank Holding Company | $5,256,000 | -3.0% | 160,475 | -0.7% | 0.29% | -0.7% |
| ECHO | Sell | Echo Global Logistics, Inc. | $4,964,000 | +21.5% | 210,775 | -1.1% | 0.28% | +24.4% |
| IPCC | Buy | Infinity Property & Casualty C | $4,947,000 | -0.5% | 77,285 | +4.5% | 0.27% | +1.9% |
| HALL | Sell | Hallmark Financial Services, I | $4,746,000 | -5.0% | 460,325 | -1.0% | 0.26% | -3.0% |
| TUP | Buy | Tupperware Brands Corp. | $4,557,000 | +8.9% | 66,000 | +32.0% | 0.25% | +11.5% |
| LDR | Buy | Landauer Inc | $4,498,000 | +40.3% | 136,256 | +78.5% | 0.25% | +43.1% |
| CNXN | Buy | PC Connection, Inc. | $4,145,000 | +6.4% | 193,075 | +2.5% | 0.23% | +9.0% |
| DESTQ | Buy | Destination Maternity | $4,091,000 | -11.0% | 264,975 | +31.2% | 0.23% | -8.8% |
| OB | Sell | OneBeacon | $3,908,000 | -59.3% | 253,580 | -58.9% | 0.22% | -58.3% |
| MG | Buy | Mistras Group, Inc. | $3,825,000 | +17.4% | 187,500 | +41.1% | 0.21% | +20.5% |
| HVB | Buy | Hudson Valley Holding Corp | $3,498,000 | +10.0% | 192,750 | +9.4% | 0.19% | +12.8% |
| SIAL | Sell | Sigma Aldrich Corp. | $3,400,000 | -69.5% | 25,000 | -77.3% | 0.19% | -68.8% |
| RST | Sell | Rosetta Stone | $3,349,000 | -18.1% | 416,025 | -1.1% | 0.19% | -15.8% |
| HWCC | Sell | Houston Wire & Cable Company | $2,965,000 | -4.0% | 247,512 | -0.6% | 0.16% | -1.8% |
| CTO | Sell | Consolidated Tomoka Land Co. | $2,549,000 | +5.5% | 51,955 | -1.3% | 0.14% | +7.6% |
| HOMB | Sell | Home Bancshares, Inc. | $2,250,000 | -11.2% | 76,503 | -0.9% | 0.12% | -8.8% |
| BANX | Buy | Stonecastle Financial Corp. | $2,060,000 | +15.7% | 81,901 | +16.7% | 0.11% | +18.8% |
| XOM | Sell | Exxon Mobil Corporation | $1,898,000 | -7.1% | 20,185 | -0.5% | 0.10% | -5.4% |
| IBM | Sell | International Business Machine | $1,422,000 | +3.3% | 7,490 | -1.3% | 0.08% | +5.3% |
| GE | Sell | General Electric Company | $577,000 | -5.4% | 22,517 | -3.0% | 0.03% | -3.0% |
| PFE | Sell | Pfizer Incorporated | $299,000 | -3.5% | 10,099 | -3.4% | 0.02% | 0.0% |
| MTSC | Sell | MTS Systems | $311,000 | -58.5% | 4,550 | -58.8% | 0.02% | -58.5% |
| DPS | Exit | Dr. Pepper Snapple Group Inc. | $0 | – | -8,101 | – | -0.03% | – |
Q2 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MKL | New | Markel Corp | $74,487,000 | – | 113,609 | – | 4.03% | – |
| ROST | New | Ross Stores Inc. | $73,096,000 | – | 1,105,332 | – | 3.96% | – |
| EOG | New | EOG Resources Inc. | $72,763,000 | – | 622,648 | – | 3.94% | – |
| IEX | New | Idex Corporation | $71,859,000 | – | 890,011 | – | 3.89% | – |
| MD | New | Mednax Inc. | $68,080,000 | – | 1,170,771 | – | 3.69% | – |
| BRO | New | Brown & Brown Inc. | $64,824,000 | – | 2,110,856 | – | 3.51% | – |
| BAM | New | Brookfield Asset Management | $57,114,000 | – | 1,297,463 | – | 3.09% | – |
| SYK | New | Stryker Corp | $55,010,000 | – | 652,397 | – | 2.98% | – |
| WTM | New | White Mtns Insurance | $53,148,000 | – | 87,352 | – | 2.88% | – |
| CDW | New | CDW Corp. | $52,646,000 | – | 1,651,389 | – | 2.85% | – |
| BEN | New | Franklin Resources | $47,339,000 | – | 818,443 | – | 2.56% | – |
| DCI | New | Donaldson Co., Inc. | $46,748,000 | – | 1,104,632 | – | 2.53% | – |
| ITW | New | Illinois Tool Works | $45,736,000 | – | 522,343 | – | 2.48% | – |
| KMX | New | Carmax | $44,261,000 | – | 851,002 | – | 2.40% | – |
| BRKA | New | Berkshire Hathaway A | $39,309,000 | – | 207 | – | 2.13% | – |
| WAT | New | Waters Corp. | $39,164,000 | – | 374,992 | – | 2.12% | – |
| MGRC | New | McGrath Rentcorp | $38,774,000 | – | 1,055,071 | – | 2.10% | – |
| AZO | New | Autozone Inc | $37,389,000 | – | 69,725 | – | 2.02% | – |
| YUM | New | Yum Brands | $36,889,000 | – | 454,302 | – | 2.00% | – |
| FLIR | New | FLIR Systems, Inc. | $35,061,000 | – | 1,009,519 | – | 1.90% | – |
| HOT | New | Starwood Hotels Resorts | $34,213,000 | – | 423,320 | – | 1.85% | – |
| KNX | New | Knight Transportation Inc. | $33,712,000 | – | 1,418,240 | – | 1.83% | – |
| MCHP | New | Microchip Technology Inc. | $33,002,000 | – | 676,135 | – | 1.79% | – |
| XLNX | New | Xilinx Inc | $32,907,000 | – | 695,559 | – | 1.78% | – |
| FWRD | New | Forward Air | $31,896,000 | – | 666,591 | – | 1.73% | – |
| IPG | New | Interpublic Group of Companies | $31,799,000 | – | 1,629,900 | – | 1.72% | – |
| L | New | Loews Corp | $30,741,000 | – | 698,501 | – | 1.66% | – |
| SSB | New | South State Corporation | $30,322,000 | – | 497,085 | – | 1.64% | – |
| PL | New | Protective Life Corp. | $29,957,000 | – | 432,100 | – | 1.62% | – |
| BBBY | New | Bed Bath and Beyond | $28,104,000 | – | 489,791 | – | 1.52% | – |
| MTB | New | M & T Bank Corp | $28,017,000 | – | 225,855 | – | 1.52% | – |
| GGG | New | Graco | $26,720,000 | – | 342,213 | – | 1.45% | – |
| WTR | New | Aqua America Inc | $23,828,000 | – | 908,784 | – | 1.29% | – |
| OZRK | New | Bank of the Ozarks, Inc. | $23,559,000 | – | 704,300 | – | 1.28% | – |
| PDCO | New | Patterson Companies Inc. | $21,375,000 | – | 541,000 | – | 1.16% | – |
| MHK | New | Mohawk Industries | $20,399,000 | – | 147,454 | – | 1.10% | – |
| AEO | New | American Eagle Outfitters | $18,456,000 | – | 1,644,897 | – | 1.00% | – |
| BRKB | New | Berkshire Hathaway B | $17,698,000 | – | 139,840 | – | 0.96% | – |
| DLR | New | Digital Realty Trust Inc. | $16,923,000 | – | 290,175 | – | 0.92% | – |
| PNFP | New | Pinnacle Financial Partners | $15,747,000 | – | 398,850 | – | 0.85% | – |
| AJG | New | Arthur J Gallagher & Co. | $13,942,000 | – | 299,190 | – | 0.76% | – |
| BH | New | Biglari Holdings Inc. | $13,926,000 | – | 32,925 | – | 0.75% | – |
| MAT | New | Mattel Inc. | $13,662,000 | – | 350,584 | – | 0.74% | – |
| JWA | New | John Wiley & Sons | $13,654,000 | – | 225,350 | – | 0.74% | – |
| FCEA | New | Forest City Enterprises Class | $12,691,000 | – | 638,700 | – | 0.69% | – |
| SIAL | New | Sigma Aldrich Corp. | $11,163,000 | – | 110,000 | – | 0.60% | – |
| TROW | New | T Rowe Price Group, Inc. | $10,551,000 | – | 125,000 | – | 0.57% | – |
| OB | New | OneBeacon | $9,599,000 | – | 617,679 | – | 0.52% | – |
| STR | New | Questar Corp | $9,013,000 | – | 363,425 | – | 0.49% | – |
| SWN | New | Southwestern Energy Co | $8,097,000 | – | 178,000 | – | 0.44% | – |
| FN | New | Fabrinet | $7,914,000 | – | 384,181 | – | 0.43% | – |
| ECOL | New | US Ecology, Inc. | $7,899,000 | – | 161,369 | – | 0.43% | – |
| DOC | New | Physicians Realty Trust | $7,178,000 | – | 498,800 | – | 0.39% | – |
| FUR | New | Winthrop Realty Trust | $6,917,000 | – | 450,590 | – | 0.38% | – |
| ACIW | New | ACI Worldwide, Inc. | $6,390,000 | – | 114,446 | – | 0.35% | – |
| FLO | New | Flowers Foods | $6,173,000 | – | 292,850 | – | 0.33% | – |
| PATR | New | Patriot Transportation Holding | $6,044,000 | – | 172,823 | – | 0.33% | – |
| EPM | New | Evolution Petroleum Corporatio | $5,968,000 | – | 545,046 | – | 0.32% | – |
| FNBCQ | New | First NBC Bank Holding Company | $5,418,000 | – | 161,675 | – | 0.29% | – |
| HALL | New | Hallmark Financial Services, I | $4,997,000 | – | 464,850 | – | 0.27% | – |
| IPCC | New | Infinity Property & Casualty C | $4,971,000 | – | 73,935 | – | 0.27% | – |
| DESTQ | New | Destination Maternity | $4,598,000 | – | 201,950 | – | 0.25% | – |
| TUP | New | Tupperware Brands Corp. | $4,185,000 | – | 50,000 | – | 0.23% | – |
| ECHO | New | Echo Global Logistics, Inc. | $4,085,000 | – | 213,100 | – | 0.22% | – |
| RST | New | Rosetta Stone | $4,090,000 | – | 420,750 | – | 0.22% | – |
| NATI | New | National Instruments | $3,952,000 | – | 122,000 | – | 0.21% | – |
| CNXN | New | PC Connection, Inc. | $3,897,000 | – | 188,425 | – | 0.21% | – |
| WHG | New | Westwood Holdings Group, Inc. | $3,818,000 | – | 63,596 | – | 0.21% | – |
| DSW | New | DSW, Inc. | $3,336,000 | – | 119,401 | – | 0.18% | – |
| MG | New | Mistras Group, Inc. | $3,258,000 | – | 132,875 | – | 0.18% | – |
| LDR | New | Landauer Inc | $3,206,000 | – | 76,341 | – | 0.17% | – |
| HVB | New | Hudson Valley Holding Corp | $3,181,000 | – | 176,250 | – | 0.17% | – |
| HWCC | New | Houston Wire & Cable Company | $3,090,000 | – | 248,962 | – | 0.17% | – |
| JBT | New | John Bean Technologies Corpora | $2,820,000 | – | 91,000 | – | 0.15% | – |
| ALTR | New | Altera Corp | $2,816,000 | – | 81,000 | – | 0.15% | – |
| AMSF | New | Amerisafe, Inc. | $2,688,000 | – | 66,100 | – | 0.15% | – |
| HOMB | New | Home Bancshares, Inc. | $2,534,000 | – | 77,203 | – | 0.14% | – |
| CTO | New | Consolidated Tomoka Land Co. | $2,417,000 | – | 52,655 | – | 0.13% | – |
| USPH | New | U.S. Physical Therapy Inc. | $2,087,000 | – | 61,045 | – | 0.11% | – |
| XOM | New | Exxon Mobil Corporation | $2,042,000 | – | 20,280 | – | 0.11% | – |
| MKC | New | McCormick & Co. | $1,951,000 | – | 27,250 | – | 0.11% | – |
| B108PS | New | Actavis, PLC | $1,874,000 | – | 8,400 | – | 0.10% | – |
| BANX | New | Stonecastle Financial Corp. | $1,780,000 | – | 70,151 | – | 0.10% | – |
| WU | New | Western Union | $1,768,000 | – | 101,936 | – | 0.10% | – |
| IBM | New | International Business Machine | $1,376,000 | – | 7,590 | – | 0.08% | – |
| MTSC | New | MTS Systems | $749,000 | – | 11,050 | – | 0.04% | – |
| GE | New | General Electric Company | $610,000 | – | 23,210 | – | 0.03% | – |
| UNP | New | Union Pacific Corp | $574,000 | – | 5,754 | – | 0.03% | – |
| DPS | New | Dr. Pepper Snapple Group Inc. | $475,000 | – | 8,101 | – | 0.03% | – |
| CVX | New | Chevron Corporation | $478,000 | – | 3,663 | – | 0.03% | – |
| CLC | New | Clarcor Inc | $397,000 | – | 6,424 | – | 0.02% | – |
| NLNK | New | Newlink Genetics Corp | $327,000 | – | 12,321 | – | 0.02% | – |
| PFE | New | Pfizer Incorporated | $310,000 | – | 10,454 | – | 0.02% | – |
| T | New | A T & T Inc New | $313,000 | – | 8,865 | – | 0.02% | – |
| USB | New | US Bancorp | $318,000 | – | 7,331 | – | 0.02% | – |
| NBTB | New | NBT Bancorp Inc | $315,000 | – | 13,095 | – | 0.02% | – |
| CNMD | New | Conmed Corp | $313,000 | – | 7,087 | – | 0.02% | – |
| SYBT | New | Stock Yards Bancorp, Inc. | $258,000 | – | 8,626 | – | 0.01% | – |
| GLNV | New | Glenville Bank Hldg Co | $234,000 | – | 2,756 | – | 0.01% | – |
| AMGN | New | Amgen Incorporated | $227,000 | – | 1,914 | – | 0.01% | – |
| PG | New | Procter & Gamble | $205,000 | – | 2,608 | – | 0.01% | – |
| KEY | New | Keycorp New | $160,000 | – | 11,181 | – | 0.01% | – |
| TRST | New | Trustco Bank Corp | $137,000 | – | 20,533 | – | 0.01% | – |
| CACB | New | Cascade Bancorp | $52,000 | – | 10,000 | – | 0.00% | – |
| New | NBNK Investments, PLC | $32,000 | – | 41,000 | – | 0.00% | – |
Q4 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| TRST | Exit | Trustco Bank Corp | $0 | – | -20,533 | – | -0.01% | – |
| GLNV | Exit | Glenville Bank Hldg Co | $0 | – | -2,756 | – | -0.01% | – |
| AMGN | Exit | Amgen Incorporated | $0 | – | -1,914 | – | -0.01% | – |
| NLNK | Exit | Newlink Genetics Corp | $0 | – | -12,321 | – | -0.01% | – |
| MDP | Exit | Meredith Corp | $0 | – | -5,300 | – | -0.02% | – |
| AMBZ | Exit | American Business Bank | $0 | – | -8,419 | – | -0.02% | – |
| CNMD | Exit | Conmed Corp | $0 | – | -7,087 | – | -0.02% | – |
| USB | Exit | US Bancorp | $0 | – | -7,331 | – | -0.02% | – |
| PFE | Exit | Pfizer Incorporated | $0 | – | -9,744 | – | -0.02% | – |
| T | Exit | A T & T Inc New | $0 | – | -8,565 | – | -0.02% | – |
| NBTB | Exit | NBT Bancorp Inc | $0 | – | -13,000 | – | -0.02% | – |
| CVX | Exit | Chevron Corporation | $0 | – | -2,443 | – | -0.02% | – |
| CLC | Exit | Clarcor Inc | $0 | – | -6,424 | – | -0.02% | – |
| GE | Exit | General Electric Company | $0 | – | -17,292 | – | -0.02% | – |
| MTSC | Exit | MTS Systems | $0 | – | -7,051 | – | -0.03% | – |
| UNP | Exit | Union Pacific Corp | $0 | – | -2,837 | – | -0.03% | – |
| SYBT | Exit | SY Bancorp Inc | $0 | – | -17,285 | – | -0.03% | – |
| GMANQ | Exit | Gordmans Stores, Inc. | $0 | – | -52,400 | – | -0.04% | – |
| LDR | Exit | Landauer Inc | $0 | – | -20,000 | – | -0.06% | – |
| SNAK | Exit | Inventure Foods, Inc. | $0 | – | -107,092 | – | -0.07% | – |
| B108PS | Exit | Actavis, PLC | $0 | – | -8,400 | – | -0.07% | – |
| DPS | Exit | Dr. Pepper Snapple Group Inc. | $0 | – | -30,800 | – | -0.08% | – |
| IBM | Exit | International Business Machine | $0 | – | -7,860 | – | -0.09% | – |
| CA | Exit | Ca Technologies | $0 | – | -50,000 | – | -0.09% | – |
| RUE | Exit | Rue 21 | $0 | – | -38,250 | – | -0.09% | – |
| GRMN | Exit | Garmin | $0 | – | -34,600 | – | -0.10% | – |
| XOM | Exit | Exxon Mobil Corporation | $0 | – | -18,814 | – | -0.10% | – |
| RSTI | Exit | Rofin-Sinar Technologies, Inc. | $0 | – | -70,650 | – | -0.10% | – |
| MKC | Exit | McCormick & Co. | $0 | – | -27,250 | – | -0.11% | – |
| USPH | Exit | U.S. Physical Therapy Inc. | $0 | – | -58,345 | – | -0.11% | – |
| WU | Exit | Western Union | $0 | – | -100,000 | – | -0.11% | – |
| HWCC | Exit | Houston Wire & Cable Company | $0 | – | -139,950 | – | -0.11% | – |
| FNBCQ | Exit | First NBC Bank Holding Company | $0 | – | -91,775 | – | -0.14% | – |
| ALTR | Exit | Altera Corp | $0 | – | -61,000 | – | -0.14% | – |
| PATR | Exit | Patriot Transportation Holding | $0 | – | -70,052 | – | -0.14% | – |
| DESTQ | Exit | Destination Maternity | $0 | – | -79,251 | – | -0.15% | – |
| JBT | Exit | John Bean Technologies Corpora | $0 | – | -101,500 | – | -0.15% | – |
| CRMT | Exit | America's Car-Mart Inc. | $0 | – | -57,800 | – | -0.16% | – |
| AMSF | Exit | Amerisafe, Inc. | $0 | – | -73,600 | – | -0.16% | – |
| IPCC | Exit | Infinity Property & Casualty C | $0 | – | -41,286 | – | -0.16% | – |
| WHG | Exit | Westwood Holdings Group, Inc. | $0 | – | -58,496 | – | -0.17% | – |
| DOC | Exit | Physicians Realty Trust | $0 | – | -242,450 | – | -0.18% | – |
| TUP | Exit | Tupperware Brands Corp. | $0 | – | -40,000 | – | -0.21% | – |
| NATI | Exit | National Instruments | $0 | – | -122,000 | – | -0.23% | – |
| FCEA | Exit | Forest City Enterprises Class | $0 | – | -244,701 | – | -0.28% | – |
| RST | Exit | Rosetta Stone | $0 | – | -285,851 | – | -0.28% | – |
| FLO | Exit | Flowers Foods | $0 | – | -231,750 | – | -0.30% | – |
| FN | Exit | Fabrinet | $0 | – | -327,575 | – | -0.33% | – |
| EPM | Exit | Evolution Petroleum Corporatio | $0 | – | -519,221 | – | -0.35% | – |
| SWN | Exit | Southwestern Energy Co | $0 | – | -237,000 | – | -0.52% | – |
| SIAL | Exit | Sigma Aldrich Corp. | $0 | – | -110,000 | – | -0.57% | – |
| ECOL | Exit | US Ecology, Inc. | $0 | – | -312,669 | – | -0.57% | – |
| DLR | Exit | Digital Realty Trust Inc. | $0 | – | -188,900 | – | -0.61% | – |
| STR | Exit | Questar Corp | $0 | – | -467,950 | – | -0.64% | – |
| JWA | Exit | John Wiley & Sons | $0 | – | -225,350 | – | -0.65% | – |
| FUR | Exit | Winthrop Realty Trust | $0 | – | -990,458 | – | -0.67% | – |
| MAT | Exit | Mattel Inc. | $0 | – | -273,409 | – | -0.69% | – |
| BH | Exit | Biglari Holdings Inc. | $0 | – | -30,535 | – | -0.76% | – |
| AJG | Exit | Arthur J Gallagher & Co. | $0 | – | -297,930 | – | -0.79% | – |
| PNFP | Exit | Pinnacle Financial Partners | $0 | – | -456,075 | – | -0.82% | – |
| OB | Exit | OneBeacon | $0 | – | -1,015,252 | – | -0.91% | – |
| OZRK | Exit | Bank of the Ozarks, Inc. | $0 | – | -333,710 | – | -0.97% | – |
| BRKB | Exit | Berkshire Hathaway B | $0 | – | -141,264 | – | -0.97% | – |
| WOOF | Exit | VCA Antech, Inc. | $0 | – | -662,200 | – | -1.10% | – |
| PL | Exit | Protective Life Corp. | $0 | – | -432,100 | – | -1.11% | – |
| MCHP | Exit | Microchip Technology Inc. | $0 | – | -482,950 | – | -1.18% | – |
| TCF | Exit | TCF Financial | $0 | – | -1,362,997 | – | -1.18% | – |
| HOT | Exit | Starwood Hotels Resorts | $0 | – | -296,516 | – | -1.19% | – |
| MHK | Exit | Mohawk Industries | $0 | – | -151,774 | – | -1.20% | – |
| PDCO | Exit | Patterson Companies Inc. | $0 | – | -542,625 | – | -1.32% | – |
| WTR | Exit | Aqua America Inc | $0 | – | -904,808 | – | -1.35% | – |
| MTB | Exit | M & T Bank Corp | $0 | – | -200,220 | – | -1.36% | – |
| AZO | Exit | Autozone Inc | $0 | – | -53,360 | – | -1.36% | – |
| HOMB | Exit | Home Bancshares, Inc. | $0 | – | -761,392 | – | -1.40% | – |
| KNX | Exit | Knight Transportation Inc. | $0 | – | -1,443,630 | – | -1.44% | – |
| GGG | Exit | Graco | $0 | – | -345,711 | – | -1.55% | – |
| FLIR | Exit | FLIR Systems, Inc. | $0 | – | -841,844 | – | -1.60% | – |
| FWRD | Exit | Forward Air | $0 | – | -672,551 | – | -1.64% | – |
| SCBT | Exit | First Financial Holdings, Inc. | $0 | – | -508,500 | – | -1.70% | – |
| IPG | Exit | Interpublic Group of Companies | $0 | – | -1,675,200 | – | -1.74% | – |
| MGRC | Exit | McGrath Rentcorp | $0 | – | -884,571 | – | -1.91% | – |
| L | Exit | Loews Corp | $0 | – | -676,811 | – | -1.91% | – |
| XLNX | Exit | Xilinx Inc | $0 | – | -708,494 | – | -2.01% | – |
| YUM | Exit | Yum Brands | $0 | – | -475,457 | – | -2.05% | – |
| BBBY | Exit | Bed Bath and Beyond | $0 | – | -493,893 | – | -2.31% | – |
| WAT | Exit | Waters Corp. | $0 | – | -370,622 | – | -2.38% | – |
| ITW | Exit | Illinois Tool Works | $0 | – | -530,281 | – | -2.45% | – |
| DCI | Exit | Donaldson Co., Inc. | $0 | – | -1,083,892 | – | -2.50% | – |
| KMX | Exit | Carmax | $0 | – | -859,527 | – | -2.52% | – |
| BEN | Exit | Franklin Resources | $0 | – | -830,643 | – | -2.54% | – |
| SYK | Exit | Stryker Corp | $0 | – | -664,742 | – | -2.72% | – |
| BRKA | Exit | Berkshire Hathaway A | $0 | – | -270 | – | -2.78% | – |
| ZBRA | Exit | Zebra Technologies A | $0 | – | -1,032,650 | – | -2.85% | – |
| BAM | Exit | Brookfield Asset Management | $0 | – | -1,296,538 | – | -2.93% | – |
| WTM | Exit | White Mtns Insurance | $0 | – | -86,554 | – | -2.97% | – |
| MKL | Exit | Markel Corp | $0 | – | -112,789 | – | -3.53% | – |
| EOG | Exit | EOG Resources Inc. | $0 | – | -361,298 | – | -3.70% | – |
| MD | Exit | Mednax Inc. | $0 | – | -614,240 | – | -3.73% | – |
| BRO | Exit | Brown & Brown Inc. | $0 | – | -2,045,300 | – | -3.97% | – |
| IEX | Exit | Idex Corporation | $0 | – | -1,163,822 | – | -4.59% | – |
| ROST | Exit | Ross Stores Inc. | $0 | – | -1,112,577 | – | -4.90% | – |
Q3 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ROST | Sell | Ross Stores Inc. | $80,996,000 | +12.1% | 1,112,577 | -0.2% | 4.90% | +4.5% |
| IEX | Sell | Idex Corporation | $75,939,000 | +20.0% | 1,163,822 | -1.1% | 4.59% | +11.8% |
| BRO | Buy | Brown & Brown Inc. | $65,654,000 | -0.4% | 2,045,300 | +0.0% | 3.97% | -7.2% |
| MD | Sell | Mednax Inc. | $61,670,000 | +9.3% | 614,240 | -0.3% | 3.73% | +1.9% |
| EOG | Sell | EOG Resources Inc. | $61,161,000 | +28.2% | 361,298 | -0.3% | 3.70% | +19.5% |
| MKL | Buy | Markel Corp | $58,399,000 | -1.7% | 112,789 | +0.0% | 3.53% | -8.4% |
| WTM | Sell | White Mtns Insurance | $49,130,000 | -1.3% | 86,554 | -0.0% | 2.97% | -8.0% |
| BAM | Sell | Brookfield Asset Management | $48,491,000 | +3.5% | 1,296,538 | -0.3% | 2.93% | -3.6% |
| ZBRA | Sell | Zebra Technologies A | $47,048,000 | +4.6% | 1,032,650 | -0.2% | 2.85% | -2.5% |
| SYK | Sell | Stryker Corp | $44,930,000 | +4.5% | 664,742 | -0.0% | 2.72% | -2.7% |
| BEN | Buy | Franklin Resources | $41,989,000 | +11.2% | 830,643 | +199.1% | 2.54% | +3.5% |
| KMX | Sell | Carmax | $41,661,000 | +4.0% | 859,527 | -1.0% | 2.52% | -3.1% |
| DCI | Buy | Donaldson Co., Inc. | $41,329,000 | +7.4% | 1,083,892 | +0.4% | 2.50% | +0.0% |
| ITW | Sell | Illinois Tool Works | $40,445,000 | +8.7% | 530,281 | -1.4% | 2.45% | +1.3% |
| WAT | Sell | Waters Corp. | $39,364,000 | +6.0% | 370,622 | -0.2% | 2.38% | -1.2% |
| BBBY | Sell | Bed Bath and Beyond | $38,208,000 | +8.7% | 493,893 | -0.3% | 2.31% | +1.4% |
| YUM | Sell | Yum Brands | $33,943,000 | +2.8% | 475,457 | -0.1% | 2.05% | -4.2% |
| XLNX | Sell | Xilinx Inc | $33,194,000 | +13.2% | 708,494 | -4.3% | 2.01% | +5.5% |
| L | Buy | Loews Corp | $31,634,000 | +5.3% | 676,811 | +0.1% | 1.91% | -1.8% |
| MGRC | Sell | McGrath Rentcorp | $31,579,000 | +3.0% | 884,571 | -1.4% | 1.91% | -4.0% |
| IPG | Sell | Interpublic Group of Companies | $28,780,000 | +17.0% | 1,675,200 | -0.9% | 1.74% | +8.9% |
| SCBT | New | First Financial Holdings, Inc. | $28,049,000 | – | 508,500 | – | 1.70% | – |
| FWRD | Sell | Forward Air | $27,124,000 | +4.6% | 672,551 | -0.7% | 1.64% | -2.5% |
| FLIR | Sell | FLIR Systems, Inc. | $26,434,000 | +16.1% | 841,844 | -0.3% | 1.60% | +8.2% |
| GGG | Sell | Graco | $25,603,000 | +14.3% | 345,711 | -2.5% | 1.55% | +6.5% |
| KNX | Buy | Knight Transportation Inc. | $23,849,000 | -1.3% | 1,443,630 | +0.5% | 1.44% | -8.0% |
| HOMB | Sell | Home Bancshares, Inc. | $23,131,000 | +7.7% | 761,392 | -7.9% | 1.40% | +0.4% |
| AZO | Buy | Autozone Inc | $22,557,000 | +1.0% | 53,360 | +1.2% | 1.36% | -5.9% |
| MTB | Buy | M & T Bank Corp | $22,409,000 | +0.3% | 200,220 | +0.2% | 1.36% | -6.5% |
| WTR | Buy | Aqua America Inc | $22,376,000 | -1.4% | 904,808 | +24.7% | 1.35% | -8.1% |
| PDCO | Sell | Patterson Companies Inc. | $21,805,000 | -20.1% | 542,625 | -25.2% | 1.32% | -25.6% |
| MHK | Sell | Mohawk Industries | $19,769,000 | +15.8% | 151,774 | -0.0% | 1.20% | +7.8% |
| HOT | New | Starwood Hotels Resorts | $19,703,000 | – | 296,516 | – | 1.19% | – |
| TCF | Sell | TCF Financial | $19,464,000 | -2.7% | 1,362,997 | -3.4% | 1.18% | -9.3% |
| MCHP | Sell | Microchip Technology Inc. | $19,458,000 | +8.1% | 482,950 | -0.1% | 1.18% | +0.7% |
| BRKB | Sell | Berkshire Hathaway B | $16,035,000 | -0.1% | 141,264 | -1.5% | 0.97% | -6.9% |
| OZRK | Sell | Bank of the Ozarks, Inc. | $15,998,000 | +5.9% | 333,710 | -4.3% | 0.97% | -1.3% |
| OB | Buy | OneBeacon | $14,985,000 | +3.2% | 1,015,252 | +1.3% | 0.91% | -3.7% |
| PNFP | Sell | Pinnacle Financial Partners | $13,596,000 | +13.6% | 456,075 | -2.0% | 0.82% | +5.9% |
| AJG | Sell | Arthur J Gallagher & Co. | $13,005,000 | -0.5% | 297,930 | -0.4% | 0.79% | -7.2% |
| BH | Buy | Biglari Holdings Inc. | $12,601,000 | +27.3% | 30,535 | +26.6% | 0.76% | +18.7% |
| MAT | Sell | Mattel Inc. | $11,450,000 | -7.7% | 273,409 | -0.1% | 0.69% | -13.9% |
| FUR | Buy | Winthrop Realty Trust | $11,044,000 | +9.3% | 990,458 | +18.0% | 0.67% | +1.8% |
| STR | Sell | Questar Corp | $10,524,000 | -6.2% | 467,950 | -0.5% | 0.64% | -12.5% |
| DLR | Buy | Digital Realty Trust Inc. | $10,031,000 | +4.2% | 188,900 | +19.7% | 0.61% | -2.9% |
| ECOL | Sell | US Ecology, Inc. | $9,421,000 | -16.6% | 312,669 | -24.0% | 0.57% | -22.2% |
| EPM | Buy | Evolution Petroleum Corporatio | $5,846,000 | +6.0% | 519,221 | +2.7% | 0.35% | -1.1% |
| FN | Buy | Fabrinet | $5,516,000 | +48.4% | 327,575 | +23.4% | 0.33% | +38.6% |
| RST | New | Rosetta Stone | $4,639,000 | – | 285,851 | – | 0.28% | – |
| FCEA | New | Forest City Enterprises Class | $4,635,000 | – | 244,701 | – | 0.28% | – |
| DOC | New | Physicians Realty Trust | $2,938,000 | – | 242,450 | – | 0.18% | – |
| IPCC | New | Infinity Property & Casualty C | $2,667,000 | – | 41,286 | – | 0.16% | – |
| CRMT | Buy | America's Car-Mart Inc. | $2,607,000 | +32.5% | 57,800 | +27.0% | 0.16% | +23.4% |
| PATR | Buy | Patriot Transportation Holding | $2,370,000 | +23.2% | 70,052 | +9.4% | 0.14% | +14.4% |
| FNBCQ | New | First NBC Bank Holding Company | $2,237,000 | – | 91,775 | – | 0.14% | – |
| MKC | Sell | McCormick & Co. | $1,763,000 | -17.2% | 27,250 | -9.9% | 0.11% | -22.5% |
| XOM | Buy | Exxon Mobil Corporation | $1,619,000 | +6.6% | 18,814 | +11.9% | 0.10% | -1.0% |
| RUE | Sell | Rue 21 | $1,543,000 | -42.0% | 38,250 | -40.2% | 0.09% | -46.2% |
| IBM | Buy | International Business Machine | $1,456,000 | +166.2% | 7,860 | +174.8% | 0.09% | +144.4% |
| B108PS | New | Actavis, PLC | $1,210,000 | – | 8,400 | – | 0.07% | – |
| GMANQ | Sell | Gordmans Stores, Inc. | $590,000 | -27.2% | 52,400 | -11.9% | 0.04% | -32.1% |
| SYBT | Sell | SY Bancorp Inc | $490,000 | -44.3% | 17,285 | -51.8% | 0.03% | -47.4% |
| GE | Buy | General Electric Company | $413,000 | +44.9% | 17,292 | +40.7% | 0.02% | +31.6% |
| NBTB | New | NBT Bancorp Inc | $299,000 | – | 13,000 | – | 0.02% | – |
| AMBZ | Sell | American Business Bank | $242,000 | -51.8% | 8,419 | -53.4% | 0.02% | -54.5% |
| AMGN | New | Amgen Incorporated | $214,000 | – | 1,914 | – | 0.01% | – |
| CZFS | Exit | Citizens Financial Services | $0 | – | -4,127 | – | -0.01% | – |
| SGBK | Exit | Stonegate Bank | $0 | – | -15,900 | – | -0.02% | – |
| HVB | Exit | Hudson Valley Holding Corp | $0 | – | -18,375 | – | -0.02% | – |
| DIMC | Exit | Dimeco Inc | $0 | – | -8,445 | – | -0.02% | – |
| MBVT | Exit | Merchants Bancshares Inc | $0 | – | -12,000 | – | -0.02% | – |
| LFGP | Exit | Ledyard Financial Group | $0 | – | -10,950 | – | -0.03% | – |
| PCBK | Exit | Pacific Continental Bank | $0 | – | -35,151 | – | -0.03% | – |
| STL | Exit | Sterling Bancorp | $0 | – | -42,225 | – | -0.03% | – |
| METR | Exit | Metro Bancorp Inc | $0 | – | -25,475 | – | -0.03% | – |
| CATC | Exit | Cambridge Bancorp | $0 | – | -17,390 | – | -0.04% | – |
| BMRC | Exit | Bank Of Marin Bancorp | $0 | – | -16,325 | – | -0.04% | – |
| WBCO | Exit | Washington Banking Co. | $0 | – | -51,375 | – | -0.05% | – |
| CAC | Exit | Camden National Corp | $0 | – | -25,635 | – | -0.06% | – |
| HTH | Exit | Hilltop Holdings | $0 | – | -59,825 | – | -0.06% | – |
| EFSC | Exit | Enterprise Financial Services | $0 | – | -62,425 | – | -0.06% | – |
| ACT | Exit | Actavis, Inc. | $0 | – | -8,400 | – | -0.07% | – |
| CASS | Exit | Cass Information Systems Inc. | $0 | – | -41,486 | – | -0.12% | – |
| HTLD | Exit | Heartland Express | $0 | – | -744,319 | – | -0.67% | – |
| SCBT | Exit | SCBT Financial Corporation | $0 | – | -525,800 | – | -1.72% | – |
Q2 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ROST | New | Ross Stores Inc. | $72,249,000 | – | 1,114,784 | – | 4.69% | – |
| BRO | New | Brown & Brown Inc. | $65,932,000 | – | 2,045,024 | – | 4.28% | – |
| IEX | New | Idex Corporation | $63,295,000 | – | 1,176,275 | – | 4.11% | – |
| MKL | New | Markel Corp | $59,430,000 | – | 112,781 | – | 3.86% | – |
| MD | New | Mednax Inc. | $56,398,000 | – | 615,830 | – | 3.66% | – |
| WTM | New | White Mtns Insurance | $49,778,000 | – | 86,579 | – | 3.23% | – |
| EOG | New | EOG Resources Inc. | $47,699,000 | – | 362,233 | – | 3.10% | – |
| BAM | New | Brookfield Asset Management | $46,853,000 | – | 1,300,738 | – | 3.04% | – |
| BRKA | New | Berkshire Hathaway A | $45,522,000 | – | 270 | – | 2.96% | – |
| ZBRA | New | Zebra Technologies A | $44,971,000 | – | 1,035,236 | – | 2.92% | – |
| SYK | New | Stryker Corp | $43,006,000 | – | 664,908 | – | 2.79% | – |
| KMX | New | Carmax | $40,077,000 | – | 868,227 | – | 2.60% | – |
| DCI | New | Donaldson Co., Inc. | $38,483,000 | – | 1,079,157 | – | 2.50% | – |
| BEN | New | Franklin Resources | $37,776,000 | – | 277,721 | – | 2.45% | – |
| ITW | New | Illinois Tool Works | $37,214,000 | – | 538,006 | – | 2.42% | – |
| WAT | New | Waters Corp. | $37,148,000 | – | 371,290 | – | 2.41% | – |
| BBBY | New | Bed Bath and Beyond | $35,136,000 | – | 495,228 | – | 2.28% | – |
| YUM | New | Yum Brands | $33,005,000 | – | 475,987 | – | 2.14% | – |
| MGRC | New | McGrath Rentcorp | $30,645,000 | – | 897,096 | – | 1.99% | – |
| L | New | Loews Corp | $30,030,000 | – | 676,345 | – | 1.95% | – |
| XLNX | New | Xilinx Inc | $29,312,000 | – | 740,004 | – | 1.90% | – |
| PDCO | New | Patterson Companies Inc. | $27,287,000 | – | 725,721 | – | 1.77% | – |
| SCBT | New | SCBT Financial Corporation | $26,495,000 | – | 525,800 | – | 1.72% | – |
| FWRD | New | Forward Air | $25,925,000 | – | 677,251 | – | 1.68% | – |
| IPG | New | Interpublic Group of Companies | $24,605,000 | – | 1,691,075 | – | 1.60% | – |
| KNX | New | Knight Transportation Inc. | $24,154,000 | – | 1,436,005 | – | 1.57% | – |
| FLIR | New | FLIR Systems, Inc. | $22,762,000 | – | 843,978 | – | 1.48% | – |
| WTR | New | Aqua America Inc | $22,696,000 | – | 725,333 | – | 1.47% | – |
| GGG | New | Graco | $22,403,000 | – | 354,421 | – | 1.46% | – |
| MTB | New | M & T Bank Corp | $22,341,000 | – | 199,915 | – | 1.45% | – |
| AZO | New | Autozone Inc | $22,331,000 | – | 52,705 | – | 1.45% | – |
| HOMB | New | Home Bancshares, Inc. | $21,469,000 | – | 826,700 | – | 1.39% | – |
| TCF | New | TCF Financial | $20,006,000 | – | 1,410,831 | – | 1.30% | – |
| MCHP | New | Microchip Technology Inc. | $18,003,000 | – | 483,300 | – | 1.17% | – |
| WOOF | New | VCA Antech, Inc. | $17,277,000 | – | 662,200 | – | 1.12% | – |
| MHK | New | Mohawk Industries | $17,076,000 | – | 151,799 | – | 1.11% | – |
| PL | New | Protective Life Corp. | $16,597,000 | – | 432,100 | – | 1.08% | – |
| BRKB | New | Berkshire Hathaway B | $16,050,000 | – | 143,409 | – | 1.04% | – |
| OZRK | New | Bank of the Ozarks, Inc. | $15,102,000 | – | 348,535 | – | 0.98% | – |
| OB | New | OneBeacon | $14,514,000 | – | 1,002,343 | – | 0.94% | – |
| AJG | New | Arthur J Gallagher & Co. | $13,066,000 | – | 299,055 | – | 0.85% | – |
| MAT | New | Mattel Inc. | $12,402,000 | – | 273,709 | – | 0.80% | – |
| PNFP | New | Pinnacle Financial Partners | $11,970,000 | – | 465,575 | – | 0.78% | – |
| ECOL | New | US Ecology, Inc. | $11,291,000 | – | 411,469 | – | 0.73% | – |
| STR | New | Questar Corp | $11,215,000 | – | 470,250 | – | 0.73% | – |
| HTLD | New | Heartland Express | $10,327,000 | – | 744,319 | – | 0.67% | – |
| FUR | New | Winthrop Realty Trust | $10,100,000 | – | 839,593 | – | 0.66% | – |
| BH | New | Biglari Holdings Inc. | $9,895,000 | – | 24,110 | – | 0.64% | – |
| DLR | New | Digital Realty Trust Inc. | $9,629,000 | – | 157,850 | – | 0.62% | – |
| JWA | New | John Wiley & Sons | $9,034,000 | – | 225,350 | – | 0.59% | – |
| SIAL | New | Sigma Aldrich Corp. | $8,846,000 | – | 110,000 | – | 0.57% | – |
| SWN | New | Southwestern Energy Co | $8,658,000 | – | 237,000 | – | 0.56% | – |
| EPM | New | Evolution Petroleum Corporatio | $5,517,000 | – | 505,646 | – | 0.36% | – |
| FLO | New | Flowers Foods | $5,110,000 | – | 231,750 | – | 0.33% | – |
| FN | New | Fabrinet | $3,717,000 | – | 265,500 | – | 0.24% | – |
| NATI | New | National Instruments | $3,409,000 | – | 122,000 | – | 0.22% | – |
| TUP | New | Tupperware Brands Corp. | $3,108,000 | – | 40,000 | – | 0.20% | – |
| RUE | New | Rue 21 | $2,661,000 | – | 63,950 | – | 0.17% | – |
| WHG | New | Westwood Holdings Group, Inc. | $2,511,000 | – | 58,496 | – | 0.16% | – |
| AMSF | New | Amerisafe, Inc. | $2,383,000 | – | 73,600 | – | 0.16% | – |
| JBT | New | John Bean Technologies Corpora | $2,133,000 | – | 101,500 | – | 0.14% | – |
| MKC | New | McCormick & Co. | $2,128,000 | – | 30,250 | – | 0.14% | – |
| ALTR | New | Altera Corp | $2,012,000 | – | 61,000 | – | 0.13% | – |
| CRMT | New | America's Car-Mart Inc. | $1,968,000 | – | 45,523 | – | 0.13% | – |
| DESTQ | New | Destination Maternity | $1,950,000 | – | 79,251 | – | 0.13% | – |
| HWCC | New | Houston Wire & Cable Company | $1,937,000 | – | 139,950 | – | 0.13% | – |
| PATR | New | Patriot Transportation Holding | $1,924,000 | – | 64,052 | – | 0.12% | – |
| CASS | New | Cass Information Systems Inc. | $1,913,000 | – | 41,486 | – | 0.12% | – |
| RSTI | New | Rofin-Sinar Technologies, Inc. | $1,762,000 | – | 70,650 | – | 0.11% | – |
| WU | New | Western Union | $1,711,000 | – | 100,000 | – | 0.11% | – |
| USPH | New | U.S. Physical Therapy Inc. | $1,613,000 | – | 58,345 | – | 0.10% | – |
| XOM | New | Exxon Mobil Corporation | $1,519,000 | – | 16,814 | – | 0.10% | – |
| CA | New | Ca Technologies | $1,431,000 | – | 50,000 | – | 0.09% | – |
| DPS | New | Dr. Pepper Snapple Group Inc. | $1,415,000 | – | 30,800 | – | 0.09% | – |
| GRMN | New | Garmin | $1,251,000 | – | 34,600 | – | 0.08% | – |
| ACT | New | Actavis, Inc. | $1,060,000 | – | 8,400 | – | 0.07% | – |
| EFSC | New | Enterprise Financial Services | $996,000 | – | 62,425 | – | 0.06% | – |
| HTH | New | Hilltop Holdings | $981,000 | – | 59,825 | – | 0.06% | – |
| LDR | New | Landauer Inc | $966,000 | – | 20,000 | – | 0.06% | – |
| CAC | New | Camden National Corp | $909,000 | – | 25,635 | – | 0.06% | – |
| SNAK | New | Inventure Foods, Inc. | $895,000 | – | 107,092 | – | 0.06% | – |
| SYBT | New | SY Bancorp Inc | $879,000 | – | 35,835 | – | 0.06% | – |
| GMANQ | New | Gordmans Stores, Inc. | $810,000 | – | 59,500 | – | 0.05% | – |
| WBCO | New | Washington Banking Co. | $730,000 | – | 51,375 | – | 0.05% | – |
| CATC | New | Cambridge Bancorp | $643,000 | – | 17,390 | – | 0.04% | – |
| BMRC | New | Bank Of Marin Bancorp | $653,000 | – | 16,325 | – | 0.04% | – |
| IBM | New | International Business Machine | $547,000 | – | 2,860 | – | 0.04% | – |
| AMBZ | New | American Business Bank | $502,000 | – | 18,084 | – | 0.03% | – |
| METR | New | Metro Bancorp Inc | $510,000 | – | 25,475 | – | 0.03% | – |
| STL | New | Sterling Bancorp | $491,000 | – | 42,225 | – | 0.03% | – |
| UNP | New | Union Pacific Corp | $438,000 | – | 2,837 | – | 0.03% | – |
| PCBK | New | Pacific Continental Bank | $415,000 | – | 35,151 | – | 0.03% | – |
| LFGP | New | Ledyard Financial Group | $417,000 | – | 10,950 | – | 0.03% | – |
| MTSC | New | MTS Systems | $399,000 | – | 7,051 | – | 0.03% | – |
| MBVT | New | Merchants Bancshares Inc | $355,000 | – | 12,000 | – | 0.02% | – |
| DIMC | New | Dimeco Inc | $344,000 | – | 8,445 | – | 0.02% | – |
| CLC | New | Clarcor Inc | $335,000 | – | 6,424 | – | 0.02% | – |
| T | New | A T & T Inc New | $303,000 | – | 8,565 | – | 0.02% | – |
| HVB | New | Hudson Valley Holding Corp | $312,000 | – | 18,375 | – | 0.02% | – |
| CVX | New | Chevron Corporation | $289,000 | – | 2,443 | – | 0.02% | – |
| GE | New | General Electric Company | $285,000 | – | 12,292 | – | 0.02% | – |
| PFE | New | Pfizer Incorporated | $273,000 | – | 9,744 | – | 0.02% | – |
| SGBK | New | Stonegate Bank | $283,000 | – | 15,900 | – | 0.02% | – |
| USB | New | US Bancorp | $265,000 | – | 7,331 | – | 0.02% | – |
| MDP | New | Meredith Corp | $253,000 | – | 5,300 | – | 0.02% | – |
| NLNK | New | Newlink Genetics Corp | $243,000 | – | 12,321 | – | 0.02% | – |
| GLNV | New | Glenville Bank Hldg Co | $225,000 | – | 2,756 | – | 0.02% | – |
| CNMD | New | Conmed Corp | $221,000 | – | 7,087 | – | 0.01% | – |
| CZFS | New | Citizens Financial Services | $202,000 | – | 4,127 | – | 0.01% | – |
| TRST | New | Trustco Bank Corp | $112,000 | – | 20,533 | – | 0.01% | – |