ICM ASSET MANAGEMENT INC/WA Activity Q4 1999-Q3 2020

Q3 2020

			Value		Shares		↓ Weighting
MU	Buy	Micron Technology Inc	$1,667,000	-8.4%	35,502	+0.5%	9.19%	-4.0%
GBX	Sell	Greenbrier Cos Inc	$1,323,000	+27.0%	45,000	-1.7%	7.30%	+33.1%
GMRE	Sell	Global Med REIT Inc	$1,075,000	+17.5%	79,615	-1.4%	5.93%	+23.2%
ACCO	Sell	Acco Brands Corp	$1,028,000	-18.7%	177,300	-0.4%	5.67%	-14.7%
CLIR	Sell	ClearSign Combustion Corp	$975,000	+8.0%	431,412	-0.6%	5.38%	+13.2%
NCR	Buy	NCR Corp	$961,000	+29.2%	43,420	+1.0%	5.30%	+35.4%
PRTK	Buy	Paratek Pharmaceuticals Inc	$846,000	+6.0%	156,300	+2.2%	4.66%	+11.2%
GLNG	Buy	Golar LNG Ltd Bermuda	$813,000	+61.3%	134,293	+93.0%	4.48%	+69.1%
MOS	Sell	Mosaic Co	$579,000	+45.5%	31,698	-0.4%	3.19%	+52.6%
CVS	New	CVS Health Corporation	$485,000	–	8,300	–	2.68%	–
HPQ	Sell	Hp Inc	$429,000	-44.6%	22,600	-49.1%	2.37%	-41.9%
AMRS	New	Amyris Inc	$411,000	–	140,800	–	2.27%	–
WPM	Buy	Wheaton Precious Metals Corp	$363,000	+17.9%	7,400	+5.7%	2.00%	+23.6%
CLNY	New	Colony Cap Inc Cl A	$328,000	–	120,100	–	1.81%	–
NDRA	Buy	Endra Life Sciences Inc	$300,000	-22.5%	409,861	+2.0%	1.65%	-18.8%
BAC	New	Bank of America Corporation	$284,000	–	11,800	–	1.57%	–
C	New	Citigroup Inc	$220,000	–	5,100	–	1.21%	–
ASNAQ	Exit	Ascena Retail Group Inc	$0	–	-33,398	–	-0.26%	–
BBCP	Exit	Concrete Pumping Holdings Inc	$0	–	-49,400	–	-0.90%	–
CIO	Exit	City Office REIT Inc	$0	–	-33,705	–	-1.78%	–
ATI	Exit	Allegheny Technologies Inc	$0	–	-43,760	–	-2.35%	–
GTLS	Exit	Chart Industries Inc	$0	–	-10,500	–	-2.68%	–
DKS	Exit	Dicks Sporting Goods Inc	$0	–	-12,800	–	-2.78%	–
APTS	Exit	Preferred Apt Communities Inc	$0	–	-116,560	–	-4.66%	–

Q2 2020

			Value		Shares		↓ Weighting
MU	New	Micron Technology Inc	$1,820,000	–	35,332	–	9.57%	–
SDS	New	ProShares UltraShort S&P 500	$1,526,000	–	78,670	–	8.03%	–
ACCO	New	Acco Brands Corp	$1,264,000	–	178,000	–	6.65%	–
TWO	New	Two Harbors Inv Corp	$1,219,000	–	241,779	–	6.41%	–
KTOS	New	Kratos Defense & Sec Solutions	$1,053,000	–	67,361	–	5.54%	–
GBX	New	Greenbrier Cos Inc	$1,042,000	–	45,800	–	5.48%	–
GMRE	New	Global Med REIT Inc	$915,000	–	80,715	–	4.81%	–
BG	New	Bunge Limited	$909,000	–	22,100	–	4.78%	–
CLIR	New	ClearSign Combustion Corp	$903,000	–	433,912	–	4.75%	–
APTS	New	Preferred Apt Communities Inc	$886,000	–	116,560	–	4.66%	–
PRTK	New	Paratek Pharmaceuticals Inc	$798,000	–	152,900	–	4.20%	–
HPQ	New	Hp Inc	$774,000	–	44,400	–	4.07%	–
NCR	New	NCR Corp	$744,000	–	42,970	–	3.91%	–
AQMS	New	Aqua Metals Inc	$595,000	–	425,111	–	3.13%	–
DKS	New	Dicks Sporting Goods Inc	$528,000	–	12,800	–	2.78%	–
GTLS	New	Chart Industries Inc	$509,000	–	10,500	–	2.68%	–
GLNG	New	Golar LNG Ltd Bermuda	$504,000	–	69,593	–	2.65%	–
ATI	New	Allegheny Technologies Inc	$446,000	–	43,760	–	2.35%	–
MOS	New	Mosaic Co	$398,000	–	31,810	–	2.09%	–
NDRA	New	Endra Life Sciences Inc	$387,000	–	401,861	–	2.04%	–
CIO	New	City Office REIT Inc	$339,000	–	33,705	–	1.78%	–
MSFT	New	Microsoft Corp	$338,000	–	1,660	–	1.78%	–
WPM	New	Wheaton Precious Metals Corp	$308,000	–	7,000	–	1.62%	–
TMO	New	Thermo Fisher Scientific Inc	$243,000	–	670	–	1.28%	–
DXLG	New	Destination XL Group Inc Com	$202,000	–	310,984	–	1.06%	–
BBCP	New	Concrete Pumping Holdings Inc	$172,000	–	49,400	–	0.90%	–
MYO	New	Myomo Inc Com New	$50,000	–	13,617	–	0.26%	–
ASNAQ	New	Ascena Retail Group Inc	$49,000	–	33,398	–	0.26%	–
	New	H Source Holdings Ltd Cl A	$34,000	–	1,314,808	–	0.18%	–
SENR	New	Strategic Envtl & Engy Resourc	$32,000	–	341,226	–	0.17%	–
MBII	New	Marrone Bio Innovations Inc	$25,000	–	21,500	–	0.13%	–

Q4 2019

			Value		Shares		↓ Weighting
SENR	Exit	Strategic Environmental & Ener	$0	–	-1,919,423	–	-0.10%	–
MYO	Exit	Myomo Inc.	$0	–	-266,000	–	-0.13%	–
TMO	Exit	Thermo Fisher Scientific Inc.	$0	–	-770	–	-0.17%	–
FEYE	Exit	FireEye Inc.	$0	–	-18,750	–	-0.19%	–
	Exit	H-Source Holdings Ltd.	$0	–	-9,314,402	–	-0.20%	–
GT	Exit	Goodyear Tire & Rubber Co.	$0	–	-24,440	–	-0.27%	–
MBII	Exit	Marrone Bio Innovations	$0	–	-252,900	–	-0.28%	–
NDRA	Exit	Endra Life Sciences Inc.	$0	–	-687,901	–	-0.56%	–
ASNA	Exit	Ascena Retail Group Inc.	$0	–	-3,186,568	–	-0.65%	–
BBCP	Exit	Concrete pump Holdings Inc	$0	–	-222,000	–	-0.68%	–
DIS	Exit	Walt Disney Co.	$0	–	-7,172	–	-0.72%	–
PRTK	Exit	Paratek Pharmacuticals Inc	$0	–	-285,315	–	-0.95%	–
K	Exit	Kellogg Co.	$0	–	-19,600	–	-0.97%	–
CVS	Exit	CVS Caremark Corp.	$0	–	-20,100	–	-0.98%	–
GBX	Exit	The Greenbrier Co., Inc.	$0	–	-45,100	–	-1.05%	–
TWO	Exit	Two Harbors Investment Corp.	$0	–	-132,493	–	-1.34%	–
DKS	Exit	Dick's Sporting Goods Inc.	$0	–	-43,900	–	-1.38%	–
CIO	Exit	City Office REIT Inc.	$0	–	-128,325	–	-1.42%	–
GLNG	Exit	Golar LNG Ltd.	$0	–	-150,069	–	-1.50%	–
CLIR	Exit	Clearsign Combustion Corp.	$0	–	-1,655,997	–	-1.57%	–
DXLG	Exit	Destination XL Group Inc.	$0	–	-1,348,772	–	-1.76%	–
HPQ	Exit	HP Inc.	$0	–	-125,503	–	-1.83%	–
GMRE	Exit	Global Medical REIT Inc.	$0	–	-209,865	–	-1.85%	–
MOD	Exit	Modine Manufacturing Co.	$0	–	-237,430	–	-2.08%	–
ACCO	Exit	ACCO Brands Corp.	$0	–	-278,600	–	-2.12%	–
AQMS	Exit	Aqua Metals Inc.	$0	–	-1,769,509	–	-2.32%	–
NCR	Exit	NCR Corp.	$0	–	-105,220	–	-2.56%	–
ATI	Exit	Allegheny Technologies Inc.	$0	–	-170,340	–	-2.66%	–
APTS	Exit	Preferred Apartment Communitie	$0	–	-240,070	–	-2.68%	–
FLEX	Exit	Flextronics Int'l Ltd.	$0	–	-403,125	–	-3.26%	–
MU	Exit	Micron Technology Inc.	$0	–	-129,352	–	-4.28%	–
MTOR	Exit	Meritor Inc.	$0	–	-304,930	–	-4.35%	–
KTOS	Exit	Kratos Defense & Security Solu	$0	–	-310,601	–	-4.46%	–
LOW	Exit	Lowe's Cos Inc.	$0	–	-153,600	–	-13.03%	–
FIBK	Exit	First Interstate Bank	$0	–	-445,012	–	-13.82%	–
MSFT	Exit	Microsoft Corp.	$0	–	-203,215	–	-21.80%	–

Q3 2019

			Value		Shares		↓ Weighting
KTOS	Sell	Kratos Defense & Security Solu	$5,776,000	-21.1%	310,601	-2.9%	4.46%	-17.9%
MTOR	Buy	Meritor Inc.	$5,641,000	+4.4%	304,930	+36.9%	4.35%	+8.6%
MU	Sell	Micron Technology Inc.	$5,543,000	+6.3%	129,352	-4.3%	4.28%	+10.5%
FLEX	Sell	Flextronics Int'l Ltd.	$4,219,000	+7.1%	403,125	-2.1%	3.26%	+11.4%
APTS	Sell	Preferred Apartment Communitie	$3,469,000	-4.0%	240,070	-0.6%	2.68%	-0.1%
ATI	Sell	Allegheny Technologies Inc.	$3,449,000	-20.5%	170,340	-1.0%	2.66%	-17.3%
NCR	Sell	NCR Corp.	$3,321,000	+0.9%	105,220	-0.6%	2.56%	+5.0%
AQMS	Buy	Aqua Metals Inc.	$3,008,000	+43.4%	1,769,509	+40.8%	2.32%	+49.1%
ACCO	Sell	ACCO Brands Corp.	$2,750,000	+23.9%	278,600	-1.2%	2.12%	+28.9%
MOD	Sell	Modine Manufacturing Co.	$2,700,000	-21.1%	237,430	-0.8%	2.08%	-18.0%
GMRE	Sell	Global Medical REIT Inc.	$2,392,000	+7.7%	209,865	-0.7%	1.85%	+12.1%
HPQ	Sell	HP Inc.	$2,375,000	-9.7%	125,503	-0.8%	1.83%	-6.0%
DXLG	Sell	Destination XL Group Inc.	$2,279,000	-8.0%	1,348,772	-4.1%	1.76%	-4.2%
CLIR	Sell	Clearsign Combustion Corp.	$2,037,000	+6.2%	1,655,997	-0.7%	1.57%	+10.5%
GLNG	Sell	Golar LNG Ltd.	$1,949,000	-36.9%	150,069	-10.2%	1.50%	-34.3%
CIO	Sell	City Office REIT Inc.	$1,847,000	+18.9%	128,325	-1.0%	1.42%	+23.6%
DKS	Sell	Dick's Sporting Goods Inc.	$1,792,000	+16.3%	43,900	-1.3%	1.38%	+21.0%
TWO	Sell	Two Harbors Investment Corp.	$1,740,000	+3.0%	132,493	-0.6%	1.34%	+7.1%
GBX	Buy	The Greenbrier Co., Inc.	$1,358,000	+1.7%	45,100	+2.7%	1.05%	+5.8%
PRTK	New	Paratek Pharmacuticals Inc	$1,233,000	–	285,315	–	0.95%	–
DIS	Sell	Walt Disney Co.	$935,000	-41.3%	7,172	-37.1%	0.72%	-38.9%
BBCP	New	Concrete pump Holdings Inc	$881,000	–	222,000	–	0.68%	–
ASNA	Sell	Ascena Retail Group Inc.	$842,000	-56.8%	3,186,568	-0.3%	0.65%	-55.1%
NDRA	Sell	Endra Life Sciences Inc.	$729,000	-38.8%	687,901	-1.2%	0.56%	-36.3%
MBII	Sell	Marrone Bio Innovations	$357,000	-8.0%	252,900	-2.3%	0.28%	-4.5%
GT	Sell	Goodyear Tire & Rubber Co.	$352,000	-7.6%	24,440	-1.8%	0.27%	-3.9%
	Buy	H-Source Holdings Ltd.	$261,000	-24.8%	9,314,402	+5.7%	0.20%	-21.8%
FEYE	Sell	FireEye Inc.	$250,000	-12.0%	18,750	-2.1%	0.19%	-8.5%
SENR	Sell	Strategic Environmental & Ener	$134,000	-10.7%	1,919,423	-4.1%	0.10%	-7.2%
SPWR	Exit	Sunpower Corp.	$0	–	-19,300	–	-0.15%	–
AGN	Exit	Allergan PLC	$0	–	-7,480	–	-0.93%	–
JNJ	Exit	Johnson & Johnson Inc.	$0	–	-10,200	–	-1.05%	–
GLW	Exit	Corning Inc.	$0	–	-43,230	–	-1.07%	–
CLNY	Exit	Colony Capital Inc.	$0	–	-391,900	–	-1.45%	–

Q2 2019

			Value		Shares		↓ Weighting
MSFT	New	Microsoft Corp.	$27,223,000	–	203,215	–	20.20%	–
FIBK	New	First Interstate Bank	$17,627,000	–	445,012	–	13.08%	–
LOW	New	Lowe's Cos Inc.	$15,500,000	–	153,600	–	11.50%	–
KTOS	New	Kratos Defense & Security Solu	$7,321,000	–	319,852	–	5.43%	–
MTOR	New	Meritor Inc.	$5,401,000	–	222,730	–	4.01%	–
MU	New	Micron Technology Inc.	$5,216,000	–	135,162	–	3.87%	–
ATI	New	Allegheny Technologies Inc.	$4,338,000	–	172,140	–	3.22%	–
FLEX	New	Flextronics Int'l Ltd.	$3,940,000	–	411,725	–	2.92%	–
APTS	New	Preferred Apartment Communitie	$3,612,000	–	241,630	–	2.68%	–
MOD	New	Modine Manufacturing Co.	$3,423,000	–	239,230	–	2.54%	–
NCR	New	NCR Corp.	$3,291,000	–	105,820	–	2.44%	–
GLNG	New	Golar LNG Ltd.	$3,087,000	–	167,033	–	2.29%	–
HPQ	New	HP Inc.	$2,629,000	–	126,453	–	1.95%	–
DXLG	New	Destination XL Group Inc.	$2,476,000	–	1,406,589	–	1.84%	–
GMRE	New	Global Medical REIT Inc.	$2,220,000	–	211,425	–	1.65%	–
ACCO	New	ACCO Brands Corp.	$2,219,000	–	281,900	–	1.65%	–
AQMS	New	Aqua Metals Inc.	$2,098,000	–	1,256,509	–	1.56%	–
CLNY	New	Colony Capital Inc.	$1,959,000	–	391,900	–	1.45%	–
ASNA	New	Ascena Retail Group Inc.	$1,950,000	–	3,196,943	–	1.45%	–
CLIR	New	Clearsign Combustion Corp.	$1,918,000	–	1,667,727	–	1.42%	–
TWO	New	Two Harbors Investment Corp.	$1,690,000	–	133,350	–	1.25%	–
DIS	New	Walt Disney Co.	$1,593,000	–	11,405	–	1.18%	–
CIO	New	City Office REIT Inc.	$1,554,000	–	129,580	–	1.15%	–
DKS	New	Dick's Sporting Goods Inc.	$1,541,000	–	44,500	–	1.14%	–
GLW	New	Corning Inc.	$1,437,000	–	43,230	–	1.07%	–
JNJ	New	Johnson & Johnson Inc.	$1,421,000	–	10,200	–	1.05%	–
GBX	New	Greenbrier Co., Inc.	$1,335,000	–	43,900	–	0.99%	–
AGN	New	Allergan PLC	$1,252,000	–	7,480	–	0.93%	–
NDRA	New	Endra Life Sciences Inc.	$1,191,000	–	696,201	–	0.88%	–
CVS	New	CVS Caremark Corp.	$1,095,000	–	20,100	–	0.81%	–
K	New	Kellogg Co.	$1,050,000	–	19,600	–	0.78%	–
MBII	New	Marrone Bio Innovations	$388,000	–	258,900	–	0.29%	–
GT	New	Goodyear Tire & Rubber Co.	$381,000	–	24,895	–	0.28%	–
	New	H-Source Holdings Ltd.	$347,000	–	8,814,402	–	0.26%	–
FEYE	New	FireEye Inc.	$284,000	–	19,150	–	0.21%	–
TMO	New	Thermo Fisher Scientific Inc.	$226,000	–	770	–	0.17%	–
SPWR	New	Sunpower Corp.	$206,000	–	19,300	–	0.15%	–
MYO	New	Myomo Inc.	$186,000	–	266,000	–	0.14%	–
SENR	New	Strategic Environmental & Ener	$150,000	–	2,001,833	–	0.11%	–

Q4 2018

			Value		Shares		↓ Weighting
IAG	Exit	IAMGOLD Corp.	$0	–	-10,975	–	-0.03%	–
M	Exit	Macy's Inc.	$0	–	-6,200	–	-0.15%	–
AQMS	Exit	Aqua Metals Inc.	$0	–	-95,218	–	-0.17%	–
CLNY	Exit	Colony Capital Inc.	$0	–	-42,800	–	-0.18%	–
FEYE	Exit	FireEye Inc.	$0	–	-19,200	–	-0.23%	–
ESNC	Exit	Ensync Inc.	$0	–	-1,330,720	–	-0.24%	–
NDRA	Exit	Endra Life Sciences Inc	$0	–	-130,870	–	-0.28%	–
SENR	Exit	Strategic Environmental & Ener	$0	–	-2,021,538	–	-0.28%	–
TMO	Exit	Thermo Fisher Scientific Inc.	$0	–	-1,745	–	-0.30%	–
MBII	Exit	Marrone Bio Innovations	$0	–	-262,900	–	-0.34%	–
DVN	Exit	Devon Energy Corp.	$0	–	-12,065	–	-0.34%	–
TPC	Exit	Tutor Perini Corp	$0	–	-26,900	–	-0.35%	–
	Exit	H-Source Holdings Ltd.	$0	–	-4,814,402	–	-0.38%	–
NFX	Exit	Newfield Exploration Co.	$0	–	-21,630	–	-0.44%	–
BGS	Exit	B&G Foods Inc.	$0	–	-26,626	–	-0.51%	–
JPI	Exit	Nuveen Preferred & Income Term	$0	–	-33,640	–	-0.53%	–
INTC	Exit	Intel Corp.	$0	–	-19,700	–	-0.65%	–
CIO	Exit	City Office REIT Inc.	$0	–	-77,090	–	-0.68%	–
T	Exit	AT&T Corp.	$0	–	-37,570	–	-0.88%	–
DKS	Exit	Dick's Sporting Goods Inc.	$0	–	-36,650	–	-0.91%	–
KSS	Exit	Kohls Corp.	$0	–	-17,700	–	-0.92%	–
IP	Exit	International Paper Co.	$0	–	-26,943	–	-0.92%	–
DIS	Exit	Walt Disney Co.	$0	–	-11,430	–	-0.93%	–
GLW	Exit	Corning Inc.	$0	–	-38,000	–	-0.94%	–
CVS	Exit	CVS Caremark Corp.	$0	–	-17,900	–	-0.98%	–
GT	Exit	Goodyear Tire & Rubber Co.	$0	–	-60,675	–	-0.99%	–
AGN	Exit	Allergan PLC	$0	–	-7,500	–	-1.00%	–
JNJ	Exit	Johnson & Johnson Inc.	$0	–	-10,400	–	-1.00%	–
ACCO	Exit	ACCO Brands Corp	$0	–	-139,000	–	-1.10%	–
C	Exit	Citigroup Inc.	$0	–	-21,964	–	-1.10%	–
TWO	Exit	Two Harbors Investment Corp.	$0	–	-110,232	–	-1.15%	–
BMCH	Exit	BMC Stock Holdings Inc.	$0	–	-99,985	–	-1.30%	–
CLIR	Exit	Clearsign Combustion Corp.	$0	–	-1,189,957	–	-1.33%	–
GMRE	Exit	Global Medical REIT Inc.	$0	–	-203,895	–	-1.34%	–
HBM	Exit	Hudbay Minerals Inc.	$0	–	-422,270	–	-1.49%	–
BAC	Exit	Bank Of America Corp.	$0	–	-73,247	–	-1.51%	–
AMAT	Exit	Applied Materials Inc.	$0	–	-57,545	–	-1.55%	–
SPWR	Exit	Sunpower Corp.	$0	–	-339,520	–	-1.73%	–
HPQ	Exit	HP Inc.	$0	–	-97,960	–	-1.76%	–
MTOR	Exit	Meritor Inc.	$0	–	-160,850	–	-2.18%	–
GLNG	Exit	Golar LNG Ltd.	$0	–	-112,180	–	-2.18%	–
APTS	Exit	Preferred Apartment Communitie	$0	–	-224,845	–	-2.76%	–
DXLG	Exit	Destination XL Group Inc.	$0	–	-1,692,827	–	-2.96%	–
KTOS	Exit	Kratos Defense & Security Solu	$0	–	-320,556	–	-3.31%	–
ATI	Exit	Allegheny Technologies Inc.	$0	–	-169,605	–	-3.50%	–
MU	Exit	Micron Technology Inc.	$0	–	-129,922	–	-4.10%	–
ASNA	Exit	Ascena Retail Group Inc.	$0	–	-1,712,566	–	-5.47%	–
FIBK	Exit	First Interstate Bank	$0	–	-215,327	–	-6.74%	–
NBCT	Exit	Northwest Bancorporation Inc.	$0	–	-444,278	–	-7.17%	–
LOW	Exit	Lowe's Companies Inc.	$0	–	-153,600	–	-12.32%	–
MSFT	Exit	Microsoft Corp.	$0	–	-205,200	–	-16.39%	–

Q3 2018

			Value		Shares		↓ Weighting
NBCT	Buy	Northwest Bancorporation Inc.	$10,263,000	+153.8%	444,278	+135.7%	7.17%	+105.7%
FIBK	New	First Interstate Bank	$9,647,000	–	215,327	–	6.74%	–
ASNA	Buy	Ascena Retail Group Inc.	$7,826,000	+16.4%	1,712,566	+1.5%	5.47%	-5.7%
MU	Buy	Micron Technology Inc.	$5,876,000	-13.1%	129,922	+0.8%	4.10%	-29.6%
ATI	Buy	Allegheny Technologies Inc.	$5,012,000	+21.0%	169,605	+2.9%	3.50%	-2.0%
KTOS	Sell	Kratos Defense & Security Solu	$4,738,000	0.0%	320,556	-22.1%	3.31%	-19.0%
DXLG	Buy	Destination XL Group Inc.	$4,232,000	+14.0%	1,692,827	+2.6%	2.96%	-7.7%
APTS	Sell	Preferred Apartment Communitie	$3,953,000	+3.0%	224,845	-0.4%	2.76%	-16.5%
GLNG	Buy	Golar LNG Ltd.	$3,119,000	-4.6%	112,180	+1.1%	2.18%	-22.6%
MTOR	New	Meritor Inc.	$3,114,000	–	160,850	–	2.18%	–
HPQ	Buy	HP Inc.	$2,524,000	+14.4%	97,960	+0.7%	1.76%	-7.4%
SPWR	Buy	Sunpower Corp.	$2,478,000	+1300.0%	339,520	+1374.9%	1.73%	+1031.4%
AMAT	Buy	Applied Materials Inc.	$2,224,000	+79.8%	57,545	+114.9%	1.55%	+45.7%
BAC	Buy	Bank Of America Corp.	$2,158,000	+8.1%	73,247	+3.4%	1.51%	-12.5%
HBM	Buy	Hudbay Minerals Inc.	$2,132,000	-9.6%	422,270	+0.2%	1.49%	-26.8%
GMRE	Sell	Global Medical REIT Inc.	$1,921,000	+6.2%	203,895	-0.1%	1.34%	-13.9%
CLIR	Buy	Clearsign Combustion Corp.	$1,904,000	-0.1%	1,189,957	+24.9%	1.33%	-19.0%
BMCH	Buy	BMC Stock Holdings Inc.	$1,865,000	-10.5%	99,985	+0.1%	1.30%	-27.5%
TWO	Sell	Two Harbors Investment Corp.	$1,646,000	-6.3%	110,232	-0.8%	1.15%	-24.0%
C	Sell	Citigroup Inc.	$1,576,000	+7.1%	21,964	-0.1%	1.10%	-13.2%
ACCO	Buy	ACCO Brands Corp	$1,571,000	+10.6%	139,000	+35.6%	1.10%	-10.4%
GT	Buy	Goodyear Tire & Rubber Co.	$1,419,000	+0.9%	60,675	+0.5%	0.99%	-18.2%
GLW	Sell	Corning Inc.	$1,341,000	+25.7%	38,000	-2.0%	0.94%	+1.8%
DIS	Sell	Walt Disney Co.	$1,337,000	+11.4%	11,430	-0.1%	0.93%	-9.8%
DKS	Sell	Dick's Sporting Goods Inc.	$1,300,000	-3.7%	36,650	-4.3%	0.91%	-22.0%
T	New	AT&T Corp.	$1,262,000	–	37,570	–	0.88%	–
INTC	Sell	Intel Corp.	$932,000	-6.0%	19,700	-1.3%	0.65%	-23.9%
JPI	Sell	Nuveen Preferred & Income Term	$764,000	-8.0%	33,640	-6.2%	0.53%	-25.4%
NFX	Sell	Newfield Exploration Co.	$624,000	-5.2%	21,630	-0.6%	0.44%	-23.1%
	Buy	H-Source Holdings Ltd.	$549,000	+5.8%	4,814,402	+15.9%	0.38%	-14.3%
DVN	Sell	Devon Energy Corp.	$482,000	-9.6%	12,065	-0.5%	0.34%	-26.6%
MBII	Buy	Marrone Bio Innovations	$481,000	+4.6%	262,900	+5.2%	0.34%	-15.4%
TMO	Sell	Thermo Fisher Scientific Inc.	$426,000	+16.7%	1,745	-0.9%	0.30%	-5.4%
SENR	Buy	Strategic Environmental & Ener	$404,000	-25.6%	2,021,538	+8.3%	0.28%	-39.7%
NDRA	New	Endra Life Sciences Inc	$400,000	–	130,870	–	0.28%	–
ESNC	Buy	Ensync Inc.	$339,000	+10.1%	1,330,720	+57.8%	0.24%	-10.9%
FEYE	Sell	FireEye Inc.	$326,000	+9.0%	19,200	-1.0%	0.23%	-11.6%
AQMS	Buy	Aqua Metals Inc.	$246,000	-8.6%	95,218	+1.8%	0.17%	-25.9%
IAG	Sell	IAMGOLD Corp.	$40,000	-59.6%	10,975	-35.4%	0.03%	-67.1%
RAD	Exit	Rite Aid Corp.	$0	–	-20,000	–	-0.03%	–
GPMT	Exit	Granite Point Mortgage Trust I	$0	–	-14,172	–	-0.22%	–
AEM	Exit	Agnico-Eagle Mines Ltd.	$0	–	-9,600	–	-0.38%	–
REI	Exit	Ring Energy inc.	$0	–	-45,285	–	-0.49%	–
SVU	Exit	Supervalu Inc	$0	–	-199,450	–	-3.53%	–

Q2 2018

			Value		Shares		↓ Weighting
MSFT	New	Microsoft Corp.	$20,235,000	–	205,200	–	17.44%	–
LOW	New	Lowe's Companies Inc.	$14,680,000	–	153,600	–	12.66%	–
MU	New	Micron Technology Inc.	$6,759,000	–	128,897	–	5.83%	–
ASNA	New	Ascena Retail Group Inc.	$6,725,000	–	1,687,670	–	5.80%	–
KTOS	New	Kratos Defense & Security Solu	$4,738,000	–	411,660	–	4.08%	–
ATI	New	Allegheny Technologies Inc.	$4,142,000	–	164,905	–	3.57%	–
SVU	New	Supervalu Inc	$4,093,000	–	199,450	–	3.53%	–
NBCT	New	Northwest Bancorporation Inc.	$4,044,000	–	188,465	–	3.49%	–
APTS	New	Preferred Apartment Communitie	$3,837,000	–	225,855	–	3.31%	–
DXLG	New	Destination XL Group Inc.	$3,713,000	–	1,650,270	–	3.20%	–
GLNG	New	Golar LNG Ltd.	$3,268,000	–	110,930	–	2.82%	–
HBM	New	Hudbay Minerals Inc.	$2,359,000	–	421,270	–	2.03%	–
HPQ	New	HP Inc.	$2,207,000	–	97,260	–	1.90%	–
BMCH	New	BMC Stock Holdings Inc.	$2,084,000	–	99,935	–	1.80%	–
BAC	New	Bank Of America Corp.	$1,997,000	–	70,827	–	1.72%	–
CLIR	New	Clearsign Combustion Corp.	$1,905,000	–	952,367	–	1.64%	–
GMRE	New	Global Medical REIT Inc.	$1,808,000	–	204,015	–	1.56%	–
TWO	New	Two Harbors Investment Corp.	$1,756,000	–	111,112	–	1.51%	–
C	New	Citigroup Inc.	$1,472,000	–	21,991	–	1.27%	–
ACCO	New	ACCO Brands Corp	$1,420,000	–	102,500	–	1.22%	–
GT	New	Goodyear Tire & Rubber Co.	$1,406,000	–	60,375	–	1.21%	–
IP	New	International Paper Co.	$1,403,000	–	26,943	–	1.21%	–
DKS	New	Dick's Sporting Goods Inc.	$1,350,000	–	38,300	–	1.16%	–
KSS	New	Kohls Corp.	$1,290,000	–	17,700	–	1.11%	–
JNJ	New	Johnson & Johnson Inc.	$1,262,000	–	10,400	–	1.09%	–
AGN	New	Allergan PLC	$1,250,000	–	7,500	–	1.08%	–
AMAT	New	Applied Materials Inc.	$1,237,000	–	26,772	–	1.07%	–
DIS	New	Walt Disney Co.	$1,200,000	–	11,445	–	1.04%	–
CVS	New	CVS Caremark Corp.	$1,152,000	–	17,900	–	0.99%	–
GLW	New	Corning Inc.	$1,067,000	–	38,790	–	0.92%	–
INTC	New	Intel Corp.	$992,000	–	19,955	–	0.86%	–
CIO	New	City Office REIT Inc.	$989,000	–	77,090	–	0.85%	–
JPI	New	Nuveen Preferred & Income Term	$830,000	–	35,880	–	0.72%	–
BGS	New	B&G Foods Inc.	$796,000	–	26,626	–	0.69%	–
NFX	New	Newfield Exploration Co.	$658,000	–	21,760	–	0.57%	–
REI	New	Ring Energy inc.	$571,000	–	45,285	–	0.49%	–
SENR	New	Strategic Environmental & Ener	$543,000	–	1,866,538	–	0.47%	–
DVN	New	Devon Energy Corp.	$533,000	–	12,125	–	0.46%	–
	New	H-Source Holdings Ltd.	$519,000	–	4,155,694	–	0.45%	–
TPC	New	Tutor Perini Corp	$496,000	–	26,900	–	0.43%	–
MBII	New	Marrone Bio Innovations	$460,000	–	250,000	–	0.40%	–
AEM	New	Agnico-Eagle Mines Ltd.	$440,000	–	9,600	–	0.38%	–
TMO	New	Thermo Fisher Scientific Inc.	$365,000	–	1,760	–	0.32%	–
ESNC	New	Ensync Inc.	$308,000	–	843,373	–	0.27%	–
FEYE	New	FireEye Inc.	$299,000	–	19,400	–	0.26%	–
AQMS	New	Aqua Metals Inc.	$269,000	–	93,518	–	0.23%	–
CLNY	New	Colony Capital Inc.	$267,000	–	42,800	–	0.23%	–
GPMT	New	Granite Point Mortgage Trust I	$260,000	–	14,172	–	0.22%	–
M	New	Macy's Inc.	$232,000	–	6,200	–	0.20%	–
SPWR	New	Sunpower Corp.	$177,000	–	23,020	–	0.15%	–
IAG	New	IAMGOLD Corp.	$99,000	–	17,000	–	0.08%	–
RAD	New	Rite Aid Corp.	$35,000	–	20,000	–	0.03%	–

Q4 2017

			Value		Shares		↓ Weighting
AUSI	Exit	Aura Systems Inc.	$0	–	-54,322	–	-0.01%	–
DRAD	Exit	Digirad Corp.	$0	–	-10,110	–	-0.04%	–
SDRL	Exit	SeaDrill Limited	$0	–	-110,000	–	-0.04%	–
PRKR	Exit	Parkervision Inc.	$0	–	-24,455	–	-0.04%	–
RAD	Exit	Rite Aid Corp.	$0	–	-20,000	–	-0.04%	–
BVX	Exit	Bovie Medical Corp.	$0	–	-11,830	–	-0.05%	–
JCS	Exit	Communications Systems Inc.	$0	–	-12,605	–	-0.06%	–
HBIO	Exit	Harvard Bioscience Inc.	$0	–	-16,250	–	-0.07%	–
	Exit	Conifex Timber, Inc.	$0	–	-18,400	–	-0.08%	–
PLAB	Exit	Photronics Inc.	$0	–	-10,195	–	-0.10%	–
IAG	Exit	IAMGOLD Corp.	$0	–	-17,000	–	-0.12%	–
SPWR	Exit	Sunpower Corp.	$0	–	-17,560	–	-0.15%	–
TMO	Exit	Thermo Fisher Scientific Inc.	$0	–	-1,285	–	-0.28%	–
C	Exit	Citigroup Inc.	$0	–	-3,901	–	-0.33%	–
FEYE	Exit	FireEye Inc.	$0	–	-21,400	–	-0.42%	–
ESNC	Exit	Ensync Inc.	$0	–	-735,500	–	-0.44%	–
RCKY	Exit	Rocky Brands Inc.	$0	–	-28,980	–	-0.45%	–
	Exit	H-Source Holdings Ltd.	$0	–	-2,514,173	–	-0.49%	–
AEM	Exit	Agnico-Eagle Mines Ltd	$0	–	-9,320	–	-0.49%	–
DVN	Exit	Devon Energy Corp.	$0	–	-11,550	–	-0.49%	–
CLNS	Exit	Colony NorthStar Inc. Cl A	$0	–	-44,700	–	-0.65%	–
HON	Exit	Honeywell International Inc.	$0	–	-3,995	–	-0.66%	–
GAIN	Exit	Gladstone Investment Corp.	$0	–	-61,360	–	-0.68%	–
NFX	Exit	Newfield Exploration Co.	$0	–	-23,035	–	-0.79%	–
REI	Exit	Ring Energy Inc.	$0	–	-52,615	–	-0.89%	–
SENR	Exit	Strategic Environmental & Ener	$0	–	-1,376,678	–	-1.01%	–
GT	Exit	Goodyear Tire & Rubber Co.	$0	–	-26,565	–	-1.03%	–
M	Exit	Macy's Inc.	$0	–	-42,360	–	-1.07%	–
KSS	Exit	Kohls Corp.	$0	–	-22,100	–	-1.17%	–
CLIR	Exit	Clearsign Combustion Corp.	$0	–	-300,925	–	-1.24%	–
BMCH	Exit	BMC Stock Holdings Inc.	$0	–	-52,400	–	-1.30%	–
CIO	Exit	City Office REIT Inc.	$0	–	-84,360	–	-1.35%	–
SHLOQ	Exit	Shiloh Industries Inc.	$0	–	-114,990	–	-1.39%	–
HPQ	Exit	HP Inc.	$0	–	-64,745	–	-1.50%	–
MTOR	Exit	Meritor Inc.	$0	–	-50,225	–	-1.52%	–
GMRE	Exit	Global Medical REIT Inc.	$0	–	-152,250	–	-1.59%	–
ATI	Exit	Allegheny Technologies Inc.	$0	–	-62,110	–	-1.72%	–
SNAK	Exit	Inventure Group Inc.	$0	–	-348,579	–	-1.90%	–
TWO	Exit	Two Harbors Investment Corp.	$0	–	-163,830	–	-1.92%	–
INTC	Exit	Intel Corp.	$0	–	-44,525	–	-1.97%	–
GLW	Exit	Corning Inc.	$0	–	-58,275	–	-2.03%	–
HBM	Exit	Hudbay Minerals Inc.	$0	–	-236,375	–	-2.05%	–
ASNA	Exit	Ascena Retail Group Inc.	$0	–	-733,390	–	-2.09%	–
BAC	Exit	Bank Of America Corp.	$0	–	-70,967	–	-2.09%	–
APTS	Exit	Preferred Apartment Communitie	$0	–	-96,325	–	-2.11%	–
AGNC	Exit	AGNC Investment Corp.	$0	–	-84,773	–	-2.14%	–
DXLG	Exit	Destination XL Group Inc.	$0	–	-1,003,532	–	-2.22%	–
MOD	Exit	Modine Manufacturing Co.	$0	–	-108,576	–	-2.43%	–
NBCT	Exit	Northwest Bancorporation Inc.	$0	–	-188,465	–	-2.61%	–
JHD	Exit	Nuveen High Income Target Term	$0	–	-257,795	–	-3.03%	–
JPI	Exit	Nuveen Preferred & Income Term	$0	–	-114,505	–	-3.35%	–
NCR	Exit	NCR Corp.	$0	–	-78,483	–	-3.42%	–
KTOS	Exit	Kratos Defense & Security Solu	$0	–	-268,488	–	-4.08%	–
MU	Exit	Micron Technology Inc.	$0	–	-101,022	–	-4.62%	–
LOW	Exit	Lowe's Companies Inc.	$0	–	-153,770	–	-14.29%	–
MSFT	Exit	Microsoft Corp.	$0	–	-206,750	–	-17.90%	–

Q3 2017

			Value		Shares		↓ Weighting
MSFT	Sell	Microsoft Corp.	$15,401,000	+7.4%	206,750	-0.7%	17.90%	-0.4%
MU	Buy	Micron Technology Inc.	$3,973,000	+45.3%	101,022	+10.3%	4.62%	+34.8%
KTOS	Sell	Kratos Defense & Security Solu	$3,512,000	+6.0%	268,488	-3.8%	4.08%	-1.6%
NCR	Buy	NCR Corp.	$2,945,000	+245.3%	78,483	+275.9%	3.42%	+220.2%
JPI	Sell	Nuveen Preferred & Income Term	$2,883,000	-5.4%	114,505	-7.6%	3.35%	-12.2%
JHD	Sell	Nuveen High Income Target Term	$2,609,000	-6.7%	257,795	-5.7%	3.03%	-13.4%
MOD	Sell	Modine Manufacturing Co.	$2,090,000	-6.2%	108,576	-19.3%	2.43%	-12.9%
DXLG	Buy	Destination XL Group Inc.	$1,907,000	+41.6%	1,003,532	+75.1%	2.22%	+31.3%
AGNC	Sell	AGNC Investment Corp.	$1,838,000	-7.1%	84,773	-8.8%	2.14%	-13.9%
APTS	Sell	Preferred Apartment Communitie	$1,819,000	+14.2%	96,325	-4.8%	2.11%	+5.9%
BAC	Buy	Bank Of America Corp.	$1,798,000	+32.0%	70,967	+26.4%	2.09%	+22.4%
ASNA	Buy	Ascena Retail Group Inc.	$1,797,000	+97.3%	733,390	+73.1%	2.09%	+83.1%
HBM	Buy	Hudbay Minerals Inc.	$1,761,000	+117.9%	236,375	+68.2%	2.05%	+102.3%
GLW	Sell	Corning Inc.	$1,744,000	-5.3%	58,275	-4.9%	2.03%	-12.1%
INTC	Sell	Intel Corp.	$1,696,000	+8.8%	44,525	-3.7%	1.97%	+0.9%
TWO	Sell	Two Harbors Investment Corp.	$1,651,000	-3.1%	163,830	-4.6%	1.92%	-10.1%
SNAK	Buy	Inventure Group Inc.	$1,635,000	+65.8%	348,579	+52.4%	1.90%	+53.8%
ATI	Sell	Allegheny Technologies Inc.	$1,484,000	+25.3%	62,110	-10.8%	1.72%	+16.2%
GMRE	Sell	Global Medical REIT Inc.	$1,367,000	-1.9%	152,250	-2.3%	1.59%	-9.0%
MTOR	Sell	Meritor Inc.	$1,306,000	+43.4%	50,225	-8.4%	1.52%	+33.0%
HPQ	Buy	HP Inc.	$1,292,000	+170.3%	64,745	+137.0%	1.50%	+150.8%
SHLOQ	Buy	Shiloh Industries Inc.	$1,196,000	+188.9%	114,990	+226.3%	1.39%	+167.8%
CIO	Sell	City Office REIT Inc.	$1,162,000	+1.6%	84,360	-6.4%	1.35%	-5.7%
BMCH	Sell	BMC Stock Holdings Inc.	$1,119,000	-10.1%	52,400	-8.1%	1.30%	-16.6%
CLIR	Buy	Clearsign Combustion Corp.	$1,068,000	+51.9%	300,925	+62.7%	1.24%	+40.9%
KSS	New	Kohls Corp.	$1,009,000	–	22,100	–	1.17%	–
M	Sell	Macy's Inc.	$924,000	-35.5%	42,360	-31.2%	1.07%	-40.1%
GT	Sell	Goodyear Tire & Rubber Co.	$883,000	-9.1%	26,565	-4.3%	1.03%	-15.7%
SENR	Buy	Strategic Environmental & Ener	$867,000	+4.0%	1,376,678	+7.3%	1.01%	-3.5%
REI	Sell	Ring Energy Inc.	$762,000	+7.5%	52,615	-3.5%	0.89%	-0.2%
NFX	Sell	Newfield Exploration Co.	$683,000	-6.8%	23,035	-10.6%	0.79%	-13.5%
GAIN	Buy	Gladstone Investment Corp.	$582,000	+1.6%	61,360	+0.7%	0.68%	-5.8%
HON	Sell	Honeywell International Inc.	$566,000	+6.0%	3,995	-0.2%	0.66%	-1.6%
CLNS	New	Colony NorthStar Inc. Cl A	$561,000	–	44,700	–	0.65%	–
DVN	Sell	Devon Energy Corp.	$424,000	-0.7%	11,550	-13.5%	0.49%	-7.9%
AEM	Sell	Agnico-Eagle Mines Ltd	$421,000	-11.4%	9,320	-11.5%	0.49%	-17.8%
	Buy	H-Source Holdings Ltd.	$420,000	+11.4%	2,514,173	+25.1%	0.49%	+3.4%
RCKY	Sell	Rocky Brands Inc.	$388,000	-9.1%	28,980	-8.6%	0.45%	-15.7%
ESNC	Buy	Ensync Inc.	$379,000	+106.0%	735,500	+47.8%	0.44%	+90.5%
FEYE	Sell	FireEye Inc.	$359,000	+1.7%	21,400	-7.8%	0.42%	-5.7%
C	Sell	Citigroup Inc.	$284,000	-13.1%	3,901	-20.3%	0.33%	-19.5%
TMO	Sell	Thermo Fisher Scientific Inc.	$243,000	-31.2%	1,285	-36.5%	0.28%	-36.2%
SPWR	Sell	Sunpower Corp.	$128,000	-41.6%	17,560	-25.3%	0.15%	-45.6%
IAG	Sell	IAMGOLD Corp.	$104,000	-84.9%	17,000	-87.3%	0.12%	-86.0%
PLAB	New	Photronics Inc.	$90,000	–	10,195	–	0.10%	–
HBIO	Sell	Harvard Bioscience Inc.	$61,000	-78.1%	16,250	-85.1%	0.07%	-79.7%
JCS	New	Communications Systems Inc.	$54,000	–	12,605	–	0.06%	–
BVX	New	Bovie Medical Corp.	$40,000	–	11,830	–	0.05%	–
PRKR	Buy	Parkervision Inc.	$39,000	+2.6%	24,455	+14.0%	0.04%	-6.2%
DRAD	New	Digirad Corp.	$35,000	–	10,110	–	0.04%	–
AUSI	Sell	Aura Systems Inc.	$4,000	-42.9%	54,322	-9.3%	0.01%	-44.4%
TA	Exit	Travelcenters of America LLC	$0	–	-11,395	–	-0.06%	–
AGN	Exit	Allergan PLC	$0	–	-990	–	-0.30%	–
DIS	Exit	Walt Disney Co.	$0	–	-2,405	–	-0.32%	–
RGLD	Exit	Royal Gold Inc.	$0	–	-23,830	–	-2.33%	–
QRVO	Exit	Qorvo Inc	$0	–	-35,667	–	-2.83%	–

Q2 2017

			Value		Shares		↓ Weighting
MSFT	New	Microsoft Corp.	$14,345,000	–	208,110	–	17.97%	–
LOW	New	Lowe's Companies, Inc.	$11,922,000	–	153,770	–	14.94%	–
KTOS	New	Kratos Defense & Security Solu	$3,312,000	–	279,023	–	4.15%	–
JPI	New	Nuveen Preferred & Income Term	$3,046,000	–	123,890	–	3.82%	–
JHD	New	Nuveen High Income Target Term	$2,795,000	–	273,485	–	3.50%	–
MU	New	Micron Technology, Inc.	$2,735,000	–	91,600	–	3.43%	–
NBCT	New	Northwest Bancorporation, Inc.	$2,262,000	–	188,465	–	2.83%	–
QRVO	New	Qorvo Inc	$2,258,000	–	35,667	–	2.83%	–
MOD	New	Modine Manufacturing Co.	$2,227,000	–	134,545	–	2.79%	–
AGNC	New	AGNC Investment Corp.	$1,979,000	–	92,948	–	2.48%	–
RGLD	New	Royal Gold Inc.	$1,863,000	–	23,830	–	2.33%	–
GLW	New	Corning, Inc.	$1,841,000	–	61,265	–	2.31%	–
TWO	New	Two Harbors Investment Corp.	$1,703,000	–	171,805	–	2.13%	–
APTS	New	Preferred Apartment Communitie	$1,593,000	–	101,140	–	2.00%	–
INTC	New	Intel Corp	$1,559,000	–	46,215	–	1.95%	–
M	New	Macy's Inc.	$1,432,000	–	61,600	–	1.79%	–
GMRE	New	Global Medical REIT Inc.	$1,394,000	–	155,885	–	1.75%	–
BAC	New	Bank Of America Corp.	$1,362,000	–	56,130	–	1.71%	–
DXLG	New	Destination XL Group Inc.	$1,347,000	–	573,026	–	1.69%	–
BMCH	New	BMC Stock Holdings Inc.	$1,245,000	–	57,000	–	1.56%	–
ATI	New	Allegheny Technologies Inc	$1,184,000	–	69,610	–	1.48%	–
CIO	New	City Office REIT Inc.	$1,144,000	–	90,085	–	1.43%	–
SNAK	New	Inventure Group, Inc.	$986,000	–	228,790	–	1.24%	–
GT	New	Goodyear Tire & Rubber Co.	$971,000	–	27,770	–	1.22%	–
ASNA	New	Ascena Retail Group Inc.	$911,000	–	423,800	–	1.14%	–
MTOR	New	Meritor, Inc.	$911,000	–	54,850	–	1.14%	–
NCR	New	NCR Corp.	$853,000	–	20,876	–	1.07%	–
SENR	New	Strategic Environmental & Ener	$834,000	–	1,283,108	–	1.04%	–
HBM	New	Hudbay Minerals Inc.	$808,000	–	140,515	–	1.01%	–
NFX	New	Newfield Exploration Co.	$733,000	–	25,760	–	0.92%	–
REI	New	Ring Energy, Inc.	$709,000	–	54,510	–	0.89%	–
CLIR	New	Clearsign Combustion Corp.	$703,000	–	185,000	–	0.88%	–
IAG	New	IAMGOLD Corp.	$691,000	–	133,895	–	0.87%	–
GAIN	New	Gladstone Investment Corp.	$573,000	–	60,945	–	0.72%	–
HON	New	Honeywell International, Inc.	$534,000	–	4,005	–	0.67%	–
HPQ	New	HP Inc	$478,000	–	27,320	–	0.60%	–
AEM	New	Agnico-Eagle Mines LTD	$475,000	–	10,530	–	0.60%	–
DVN	New	Devon Energy Corp.	$427,000	–	13,355	–	0.54%	–
RCKY	New	Rocky Brands Inc.	$427,000	–	31,715	–	0.54%	–
SHLOQ	New	Shiloh Industries, Inc.	$414,000	–	35,245	–	0.52%	–
	New	H-Source Holdings Ltd.	$377,000	–	2,009,428	–	0.47%	–
FEYE	New	FireEye Inc	$353,000	–	23,200	–	0.44%	–
TMO	New	Thermo Fisher Scientific, Inc.	$353,000	–	2,025	–	0.44%	–
C	New	Citigroup, Inc.	$327,000	–	4,895	–	0.41%	–
HBIO	New	Harvard Bioscience, Inc.	$279,000	–	109,260	–	0.35%	–
DIS	New	Walt Disney Co.	$256,000	–	2,405	–	0.32%	–
AGN	New	Allergan PLC	$241,000	–	990	–	0.30%	–
SPWR	New	Sunpower Corp	$219,000	–	23,495	–	0.27%	–
ESNC	New	Ensync Inc.	$184,000	–	497,800	–	0.23%	–
RAD	New	Rite Aid Corp.	$59,000	–	20,000	–	0.07%	–
TA	New	Travelcenters of America LLC	$47,000	–	11,395	–	0.06%	–
	New	Conifex Timber, Inc.	$43,000	–	18,400	–	0.05%	–
SDRL	New	SeaDrill Limited	$40,000	–	110,000	–	0.05%	–
PRKR	New	Parkervision Inc.	$38,000	–	21,455	–	0.05%	–
AUSI	New	Aura Systems, Inc.	$7,000	–	59,883	–	0.01%	–

Q4 2016

			Value		Shares		↓ Weighting
AUSI	Exit	Aura Systems, Inc.	$0	–	-59,883	–	-0.01%	–
STRI	Exit	STR Holdings Inc	$0	–	-22,853	–	-0.01%	–
CTHR	Exit	Charles & Colvard Ltd	$0	–	-13,360	–	-0.02%	–
RBCN	Exit	Rubicon Technology Inc	$0	–	-28,340	–	-0.02%	–
WSTL	Exit	Westell Technologies Inc.-A	$0	–	-50,650	–	-0.04%	–
BEBE	Exit	Bebe Stores Inc.	$0	–	-38,300	–	-0.04%	–
TINY	Exit	Harris and Harris Group Inc	$0	–	-22,185	–	-0.04%	–
DDE	Exit	Dover Downs Gaming & Entertain	$0	–	-32,650	–	-0.05%	–
	Exit	Conifex Timber, Inc.	$0	–	-18,400	–	-0.07%	–
	Exit	H-Source Holdings Ltd.	$0	–	-2,094,898	–	-0.31%	–
PCBK	Exit	Pacific Continental Corp	$0	–	-15,463	–	-0.35%	–
APC	Exit	Anadarko Petroleum Corp.	$0	–	-4,105	–	-0.35%	–
SDRL	Exit	SeaDrill Limited	$0	–	-110,000	–	-0.35%	–
RCKY	Exit	Rocky Brands Inc.	$0	–	-25,258	–	-0.36%	–
SLB	Exit	Schlumberger Ltd.	$0	–	-3,510	–	-0.37%	–
SHLOQ	Exit	Shiloh Industries, Inc.	$0	–	-44,700	–	-0.42%	–
DIS	Exit	Walt Disney Co.	$0	–	-3,485	–	-0.43%	–
UMPQ	Exit	Umpqua Holdings Corp	$0	–	-21,899	–	-0.44%	–
AGN	Exit	Allergan PLC.	$0	–	-1,575	–	-0.48%	–
TA	Exit	Travelcenters of America LLC	$0	–	-52,299	–	-0.50%	–
JBLU	Exit	JetBlue Airways Corp.	$0	–	-23,885	–	-0.55%	–
TMO	Exit	Thermo Fisher Scientific, Inc.	$0	–	-2,710	–	-0.57%	–
MTOR	Exit	Meritor, Inc.	$0	–	-42,685	–	-0.63%	–
C	Exit	Citigroup, Inc.	$0	–	-10,150	–	-0.64%	–
ETSY	Exit	Etsy Inc.	$0	–	-39,495	–	-0.75%	–
GAIN	Exit	Gladstone Investment Corp.	$0	–	-71,445	–	-0.84%	–
RRD	Exit	RR Donnelley & Sons Co.	$0	–	-41,550	–	-0.87%	–
FVE	Exit	Five Star Quality Care Inc	$0	–	-353,275	–	-0.90%	–
SENR	Exit	Strategic Environmental & Ener	$0	–	-1,130,105	–	-0.90%	–
TWO	Exit	Two Harbors Investment Corp.	$0	–	-80,965	–	-0.92%	–
ENLC	Exit	Enlink Midstream LLC	$0	–	-44,560	–	-0.99%	–
HPQ	Exit	HP Inc	$0	–	-52,185	–	-1.08%	–
BMCH	Exit	BMC Stock Holdings Inc.	$0	–	-46,265	–	-1.09%	–
SPWR	Exit	Sunpower Corp	$0	–	-94,970	–	-1.13%	–
NFX	Exit	Newfield Exploration Co.	$0	–	-21,995	–	-1.27%	–
MOD	Exit	Modine Manufacturing Co.	$0	–	-82,390	–	-1.30%	–
PLAB	Exit	Photronics, Inc.	$0	–	-100,210	–	-1.37%	–
DXLG	Exit	Destination XL Group Inc.	$0	–	-244,920	–	-1.41%	–
CIO	Exit	City Office REIT Inc.	$0	–	-85,060	–	-1.44%	–
ANF	Exit	Abercrombie & Fitch Co. Class	$0	–	-75,155	–	-1.59%	–
CLIR	Exit	Clearsign Combustion Corp.	$0	–	-217,390	–	-1.73%	–
NCR	Exit	NCR Corp.	$0	–	-43,532	–	-1.86%	–
GMRE	Exit	Global Medical REIT Inc.	$0	–	-158,735	–	-2.06%	–
ASNA	Exit	Ascena Retail Group Inc.	$0	–	-282,500	–	-2.10%	–
APTS	Exit	Preferred Apartment Communitie	$0	–	-121,695	–	-2.19%	–
BAC	Exit	Bank Of America Corp.	$0	–	-112,190	–	-2.34%	–
INTC	Exit	Intel Corp.	$0	–	-47,295	–	-2.37%	–
M	Exit	Macy's Inc.	$0	–	-48,360	–	-2.38%	–
KTOS	Exit	Kratos Defense & Security Solu	$0	–	-261,919	–	-2.40%	–
GLW	Exit	Corning, Inc.	$0	–	-77,630	–	-2.44%	–
HBM	Exit	Hudbay Minerals Inc.	$0	–	-472,860	–	-2.49%	–
GLNG	Exit	Golar LNG Ltd	$0	–	-90,420	–	-2.55%	–
SWC	Exit	Stillwater Mining Co.	$0	–	-146,015	–	-2.59%	–
AGNC	Exit	AGNC Investment Corp.	$0	–	-102,864	–	-2.67%	–
MU	Exit	Micron Technology, Inc.	$0	–	-124,350	–	-2.94%	–
SNAK	Exit	Inventure Group, Inc.	$0	–	-253,630	–	-3.17%	–
QRVO	Exit	Qorvo Inc	$0	–	-45,668	–	-3.38%	–
GT	Exit	Goodyear Tire & Rubber Co.	$0	–	-87,276	–	-3.75%	–
AA	Exit	Alcoa, Inc.	$0	–	-278,162	–	-3.75%	–
JHD	Exit	Nuveen High Income Target Term	$0	–	-340,195	–	-4.62%	–
JPI	Exit	Nuveen Preferred & Income Term	$0	–	-155,840	–	-5.10%	–
LOW	Exit	Lowe's Companies, Inc.	$0	–	-76,800	–	-7.37%	–
MSFT	Exit	Microsoft Corp.	$0	–	-115,845	–	-8.87%	–

Q3 2016

			Value		Shares		↓ Weighting
MSFT	Sell	Microsoft Corp.	$6,673,000	+12.1%	115,845	-0.4%	8.87%	+2.2%
JPI	Buy	Nuveen Preferred & Income Term	$3,837,000	+34.7%	155,840	+33.8%	5.10%	+22.8%
JHD	Buy	Nuveen High Income Target Term	$3,473,000	+126.3%	340,195	+128.9%	4.62%	+106.3%
AA	New	Alcoa, Inc.	$2,821,000	–	278,162	–	3.75%	–
GT	Sell	Goodyear Tire & Rubber Co.	$2,819,000	+21.0%	87,276	-3.8%	3.75%	+10.3%
QRVO	Buy	Qorvo Inc	$2,546,000	+23.1%	45,668	+22.0%	3.38%	+12.2%
SNAK	Sell	Inventure Group, Inc.	$2,384,000	-5.2%	253,630	-21.3%	3.17%	-13.6%
MU	Sell	Micron Technology, Inc.	$2,211,000	+21.6%	124,350	-5.9%	2.94%	+10.9%
AGNC	New	AGNC Investment Corp.	$2,010,000	–	102,864	–	2.67%	–
SWC	Buy	Stillwater Mining Co.	$1,951,000	+27.3%	146,015	+13.0%	2.59%	+16.0%
GLNG	Buy	Golar LNG Ltd	$1,917,000	+46.6%	90,420	+7.2%	2.55%	+33.6%
HBM	Buy	Hudbay Minerals Inc.	$1,873,000	+120.9%	472,860	+166.5%	2.49%	+101.3%
GLW	Sell	Corning, Inc.	$1,836,000	+15.3%	77,630	-0.2%	2.44%	+5.0%
KTOS	Sell	Kratos Defense & Security Solu	$1,805,000	+43.3%	261,919	-14.8%	2.40%	+30.6%
M	Buy	Macy's Inc.	$1,792,000	+19.2%	48,360	+8.1%	2.38%	+8.7%
INTC	Sell	Intel Corp.	$1,785,000	+9.0%	47,295	-5.3%	2.37%	-0.7%
BAC	Sell	Bank Of America Corp.	$1,756,000	+15.6%	112,190	-2.0%	2.34%	+5.4%
APTS	Buy	Preferred Apartment Communitie	$1,644,000	+3.7%	121,695	+13.0%	2.19%	-5.4%
ASNA	Buy	Ascena Retail Group Inc.	$1,579,000	+44.3%	282,500	+80.6%	2.10%	+31.6%
GMRE	Sell	Global Medical REIT Inc.	$1,549,000	-4.4%	158,735	-1.0%	2.06%	-12.9%
NCR	Sell	NCR Corp.	$1,401,000	+7.2%	43,532	-7.5%	1.86%	-2.3%
CLIR	Buy	Clearsign Combustion Corp.	$1,304,000	+98.5%	217,390	+65.8%	1.73%	+81.0%
ANF	New	Abercrombie & Fitch Co. Class	$1,194,000	–	75,155	–	1.59%	–
CIO	Sell	City Office REIT Inc.	$1,083,000	-4.0%	85,060	-2.1%	1.44%	-12.5%
DXLG	New	Destination XL Group Inc.	$1,061,000	–	244,920	–	1.41%	–
PLAB	Buy	Photronics, Inc.	$1,033,000	+16.5%	100,210	+0.7%	1.37%	+6.2%
MOD	Buy	Modine Manufacturing Co.	$977,000	+71.1%	82,390	+26.9%	1.30%	+55.9%
NFX	New	Newfield Exploration Co.	$956,000	–	21,995	–	1.27%	–
SPWR	Sell	Sunpower Corp	$847,000	-56.9%	94,970	-25.1%	1.13%	-60.7%
BMCH	New	BMC Stock Holdings Inc.	$820,000	–	46,265	–	1.09%	–
HPQ	Sell	HP Inc	$810,000	+21.8%	52,185	-1.5%	1.08%	+11.0%
ENLC	Sell	Enlink Midstream LLC	$746,000	+1.4%	44,560	-3.7%	0.99%	-7.6%
TWO	Buy	Two Harbors Investment Corp.	$691,000	+64.9%	80,965	+65.3%	0.92%	+50.4%
SENR	Buy	Strategic Environmental & Ener	$678,000	+50.3%	1,130,105	+46.7%	0.90%	+37.1%
FVE	New	Five Star Quality Care Inc	$675,000	–	353,275	–	0.90%	–
RRD	Sell	RR Donnelley & Sons Co.	$653,000	-7.5%	41,550	-0.4%	0.87%	-15.7%
GAIN	Sell	Gladstone Investment Corp.	$635,000	+23.8%	71,445	-0.3%	0.84%	+12.8%
ETSY	Buy	Etsy Inc.	$564,000	+60.2%	39,495	+7.5%	0.75%	+46.2%
C	Buy	Citigroup, Inc.	$479,000	+13.5%	10,150	+2.0%	0.64%	+3.4%
MTOR	Sell	Meritor, Inc.	$475,000	+1.1%	42,685	-34.5%	0.63%	-7.9%
TMO	Sell	Thermo Fisher Scientific, Inc.	$431,000	-12.2%	2,710	-18.4%	0.57%	-20.0%
JBLU	New	JetBlue Airways Corp.	$412,000	–	23,885	–	0.55%	–
TA	Sell	Travelcenters of America LLC	$374,000	-14.0%	52,299	-1.9%	0.50%	-21.6%
AGN	New	Allergan PLC.	$363,000	–	1,575	–	0.48%	–
UMPQ	Sell	Umpqua Holdings Corp	$330,000	-7.6%	21,899	-5.0%	0.44%	-15.7%
DIS	Sell	Walt Disney Co.	$324,000	-69.7%	3,485	-68.2%	0.43%	-72.4%
SHLOQ	New	Shiloh Industries, Inc.	$316,000	–	44,700	–	0.42%	–
RCKY	New	Rocky Brands Inc.	$267,000	–	25,258	–	0.36%	–
PCBK	New	Pacific Continental Corp	$260,000	–	15,463	–	0.35%	–
APC	New	Anadarko Petroleum Corp.	$260,000	–	4,105	–	0.35%	–
DDE	New	Dover Downs Gaming & Entertain	$35,000	–	32,650	–	0.05%	–
TINY	New	Harris and Harris Group Inc	$31,000	–	22,185	–	0.04%	–
BEBE	New	Bebe Stores Inc.	$27,000	–	38,300	–	0.04%	–
WSTL	New	Westell Technologies Inc.-A	$26,000	–	50,650	–	0.04%	–
RBCN	New	Rubicon Technology Inc	$18,000	–	28,340	–	0.02%	–
CTHR	New	Charles & Colvard Ltd	$15,000	–	13,360	–	0.02%	–
STRI	New	STR Holdings Inc	$5,000	–	22,853	–	0.01%	–
WYY	Exit	Widepoint Corp.	$0	–	-370,220	–	-0.32%	–
MDT	Exit	Medtronic, Inc.	$0	–	-2,725	–	-0.34%	–
HAR	Exit	Harman International	$0	–	-11,145	–	-1.17%	–
ATI	Exit	Allegheny Technologies Inc	$0	–	-81,590	–	-1.52%	–
LYB	Exit	Lyondellbasell Industries NV	$0	–	-14,320	–	-1.56%	–
DKS	Exit	Dick's Sporting Goods Inc.	$0	–	-24,570	–	-1.62%	–
PRU	Exit	Prudential Financial, Inc.	$0	–	-16,285	–	-1.70%	–
URI	Exit	United Rentals, Inc.	$0	–	-19,740	–	-1.93%	–
DVN	Exit	Devon Energy Corp.	$0	–	-53,280	–	-2.82%	–
AGNC	Exit	American General Capital Corp.	$0	–	-105,764	–	-3.06%	–
AA	Exit	Alcoa, Inc.	$0	–	-259,388	–	-3.51%	–

Q2 2016

			Value		Shares		↓ Weighting
LOW	New	Lowe's Companies, Inc.	$6,080,000	–	76,800	–	8.87%	–
MSFT	New	Microsoft Corp.	$5,954,000	–	116,355	–	8.68%	–
JPI	New	Nuveen Preferred & Income Term	$2,849,000	–	116,445	–	4.16%	–
SNAK	New	Inventure Group, Inc.	$2,516,000	–	322,200	–	3.67%	–
AA	New	Alcoa, Inc.	$2,405,000	–	259,388	–	3.51%	–
GT	New	Goodyear Tire & Rubber Co.	$2,329,000	–	90,751	–	3.40%	–
AGNC	New	American General Capital Corp.	$2,096,000	–	105,764	–	3.06%	–
QRVO	New	Qorvo Inc	$2,069,000	–	37,433	–	3.02%	–
SPWR	New	Sunpower Corp	$1,964,000	–	126,790	–	2.86%	–
DVN	New	Devon Energy Corp.	$1,931,000	–	53,280	–	2.82%	–
MU	New	Micron Technology, Inc.	$1,818,000	–	132,105	–	2.65%	–
INTC	New	Intel Corp.	$1,638,000	–	49,925	–	2.39%	–
GMRE	New	Global Medical REIT Inc.	$1,621,000	–	160,300	–	2.36%	–
GLW	New	Corning, Inc.	$1,593,000	–	77,800	–	2.32%	–
APTS	New	Preferred Apartment Communitie	$1,585,000	–	107,650	–	2.31%	–
JHD	New	Nuveen High Income Target Term	$1,535,000	–	148,635	–	2.24%	–
SWC	New	Stillwater Mining Co.	$1,533,000	–	129,240	–	2.24%	–
BAC	New	Bank Of America Corp.	$1,519,000	–	114,466	–	2.22%	–
M	New	Macy's Inc.	$1,503,000	–	44,730	–	2.19%	–
URI	New	United Rentals, Inc.	$1,325,000	–	19,740	–	1.93%	–
GLNG	New	Golar LNG Ltd	$1,308,000	–	84,380	–	1.91%	–
NCR	New	NCR Corp.	$1,307,000	–	47,060	–	1.91%	–
KTOS	New	Kratos Defense & Security Solu	$1,260,000	–	307,422	–	1.84%	–
PRU	New	Prudential Financial, Inc.	$1,162,000	–	16,285	–	1.70%	–
CIO	New	City Office REIT Inc.	$1,128,000	–	86,900	–	1.64%	–
DKS	New	Dick's Sporting Goods Inc.	$1,107,000	–	24,570	–	1.62%	–
ASNA	New	Ascena Retail Group Inc.	$1,094,000	–	156,445	–	1.60%	–
DIS	New	Walt Disney Co.	$1,071,000	–	10,945	–	1.56%	–
LYB	New	Lyondellbasell Industries NV	$1,066,000	–	14,320	–	1.56%	–
ATI	New	Allegheny Technologies Inc	$1,040,000	–	81,590	–	1.52%	–
PLAB	New	Photronics, Inc.	$887,000	–	99,545	–	1.29%	–
HBM	New	Hudbay Minerals Inc.	$848,000	–	177,430	–	1.24%	–
HAR	New	Harman International	$800,000	–	11,145	–	1.17%	–
ENLC	New	Enlink Midstream LLC	$736,000	–	46,285	–	1.07%	–
RRD	New	RR Donnelley & Sons Co.	$706,000	–	41,720	–	1.03%	–
HPQ	New	HP Inc	$665,000	–	52,985	–	0.97%	–
CLIR	New	Clearsign Combustion Corp.	$657,000	–	131,155	–	0.96%	–
MOD	New	Modine Manufacturing Co.	$571,000	–	64,905	–	0.83%	–
GAIN	New	Gladstone Investment Corp.	$513,000	–	71,695	–	0.75%	–
TMO	New	Thermo Fisher Scientific, Inc.	$491,000	–	3,320	–	0.72%	–
MTOR	New	Meritor, Inc.	$470,000	–	65,210	–	0.69%	–
SENR	New	Strategic Environmental & Ener	$451,000	–	770,125	–	0.66%	–
TA	New	Travelcenters of America LLC	$435,000	–	53,290	–	0.63%	–
C	New	Citigroup, Inc.	$422,000	–	9,955	–	0.62%	–
TWO	New	Two Harbors Investment Corp.	$419,000	–	48,985	–	0.61%	–
UMPQ	New	Umpqua Holdings Corp	$357,000	–	23,054	–	0.52%	–
SDRL	New	SeaDrill Limited	$356,000	–	110,000	–	0.52%	–
ETSY	New	Etsy Inc.	$352,000	–	36,725	–	0.51%	–
SLB	New	Schlumberger Ltd.	$278,000	–	3,510	–	0.40%	–
	New	H-Source Holdings Ltd.	$247,000	–	2,094,898	–	0.36%	–
MDT	New	Medtronic, Inc.	$236,000	–	2,725	–	0.34%	–
WYY	New	Widepoint Corp.	$218,000	–	370,220	–	0.32%	–
	New	Conifex Timber, Inc.	$33,000	–	18,400	–	0.05%	–
AUSI	New	Aura Systems, Inc.	$6,000	–	59,883	–	0.01%	–

Q4 2015

			Value		Shares		↓ Weighting
SENR	Exit	Strategic Environmental & Ener	$0	–	-52,069	–	-0.06%	–
AUSI	Exit	Aura Systems, Inc.	$0	–	-2,054,463	–	-0.15%	–
TWER	Exit	Towerstream Corp.	$0	–	-253,175	–	-0.44%	–
WYY	Exit	Widepoint Corp.	$0	–	-311,185	–	-0.44%	–
SLB	Exit	Schlumberger Ltd.	$0	–	-4,090	–	-0.45%	–
SNAK	Exit	Inventure Group, Inc.	$0	–	-36,315	–	-0.52%	–
CELG	Exit	Celgene Corp.	$0	–	-3,278	–	-0.57%	–
EOG	Exit	EOG Resources, Inc.	$0	–	-4,915	–	-0.58%	–
ATI	Exit	Allegheny Technologies Inc	$0	–	-26,235	–	-0.60%	–
GOOG	Exit	Google, Inc. Class C Non Votin	$0	–	-655	–	-0.64%	–
NOG	Exit	Northern Oil & Gas, Inc.	$0	–	-90,670	–	-0.64%	–
TMO	Exit	Thermo Fisher Scientific, Inc.	$0	–	-3,550	–	-0.70%	–
TSN	Exit	Tyson Foods, Inc. -Cl A	$0	–	-10,410	–	-0.72%	–
DIS	Exit	Walt Disney Co.	$0	–	-4,405	–	-0.72%	–
AEM	Exit	Agnico-Eagle Mines LTD	$0	–	-19,575	–	-0.80%	–
AAPL	Exit	Apple, Inc.	$0	–	-4,515	–	-0.80%	–
C	Exit	Citigroup, Inc.	$0	–	-10,081	–	-0.80%	–
APC	Exit	Anadarko Petroleum Corp.	$0	–	-8,700	–	-0.84%	–
GAIN	Exit	Gladstone Investment Corp.	$0	–	-79,620	–	-0.90%	–
MOD	Exit	Modine Manufacturing Co.	$0	–	-74,680	–	-0.95%	–
RRD	Exit	RR Donnelley & Sons Co.	$0	–	-46,630	–	-1.09%	–
GG	Exit	Goldcorp, Inc.	$0	–	-58,905	–	-1.18%	–
MFA	Exit	MFA Financial, Inc.	$0	–	-117,005	–	-1.28%	–
GILD	Exit	Gilead Sciences, Inc.	$0	–	-8,180	–	-1.29%	–
KTOS	Exit	Kratos Defense & Security Solu	$0	–	-192,120	–	-1.30%	–
NCR	Exit	NCR Corp.	$0	–	-35,705	–	-1.31%	–
CLIR	Exit	Clearsign Combustion Corp.	$0	–	-136,550	–	-1.36%	–
LYB	Exit	Lyondellbasell Industries NV	$0	–	-10,150	–	-1.36%	–
TEN	Exit	Tenneco Automotive, Inc.	$0	–	-19,005	–	-1.37%	–
T	Exit	A T& T Corp.	$0	–	-26,600	–	-1.39%	–
INTC	Exit	Intel Corp.	$0	–	-28,930	–	-1.40%	–
AAL	Exit	American Airlines Group Inc	$0	–	-22,745	–	-1.42%	–
SWC	Exit	Stillwater Mining Co.	$0	–	-91,655	–	-1.52%	–
KMI	Exit	Kinder Morgan, Inc.	$0	–	-34,258	–	-1.52%	–
MU	Exit	Micron Technology, Inc.	$0	–	-64,785	–	-1.56%	–
REI	Exit	Ring Energy, Inc.	$0	–	-100,425	–	-1.59%	–
RAD	Exit	Rite Aid Corp.	$0	–	-169,520	–	-1.66%	–
VSH	Exit	Vishay Intertechnology, Inc.	$0	–	-109,272	–	-1.70%	–
QRVO	Exit	Qorvo Inc	$0	–	-23,513	–	-1.70%	–
PLAB	Exit	Photronics, Inc.	$0	–	-117,115	–	-1.71%	–
BBG	Exit	Bill Barrett Corp.	$0	–	-353,830	–	-1.88%	–
FLY	Exit	Fly Leasing Ltd. ADR	$0	–	-89,040	–	-1.89%	–
GLNG	Exit	Golar LNG Ltd	$0	–	-44,090	–	-1.98%	–
RGLD	Exit	Royal Gold Inc.	$0	–	-26,555	–	-2.01%	–
PRU	Exit	Prudential Financial, Inc.	$0	–	-18,060	–	-2.21%	–
DVN	Exit	Devon Energy Corp.	$0	–	-37,145	–	-2.22%	–
BAC	Exit	Bank Of America Corp.	$0	–	-95,725	–	-2.40%	–
AMTG	Exit	Apollo Residential Mortgage, I	$0	–	-121,075	–	-2.46%	–
APTS	Exit	Preferred Apartment Communitie	$0	–	-146,730	–	-2.57%	–
MITT	Exit	AG Mortgage Investment Trust I	$0	–	-106,004	–	-2.59%	–
GT	Exit	Goodyear Tire & Rubber Co.	$0	–	-55,311	–	-2.61%	–
FCX	Exit	Freeport-McMoran Inc.	$0	–	-169,013	–	-2.63%	–
AMAT	Exit	Applied Materials, Inc.	$0	–	-112,915	–	-2.67%	–
AGNC	Exit	American General Capital Corp.	$0	–	-89,794	–	-2.70%	–
SLW	Exit	Silver Wheaton Corp.	$0	–	-144,475	–	-2.79%	–
TWO	Exit	Two Harbors Investment Corp.	$0	–	-208,905	–	-2.96%	–
GLW	Exit	Corning, Inc.	$0	–	-119,175	–	-3.28%	–
LOW	Exit	Lowe's Companies, Inc.	$0	–	-30,720	–	-3.40%	–
URI	Exit	United Rentals, Inc.	$0	–	-36,113	–	-3.49%	–
AA	Exit	Alcoa, Inc.	$0	–	-279,986	–	-4.35%	–
MSFT	Exit	Microsoft Corp.	$0	–	-82,240	–	-5.85%	–

Q3 2015

			Value		Shares		↓ Weighting
MSFT	Sell	Microsoft Corp.	$3,640,000	-8.0%	82,240	-8.2%	5.85%	+42.6%
AA	Buy	Alcoa, Inc.	$2,705,000	+7.8%	279,986	+24.4%	4.35%	+67.1%
URI	Buy	United Rentals, Inc.	$2,169,000	-2.6%	36,113	+42.1%	3.49%	+51.0%
GLW	Sell	Corning, Inc.	$2,040,000	-25.3%	119,175	-13.9%	3.28%	+15.8%
TWO	Sell	Two Harbors Investment Corp.	$1,843,000	-30.5%	208,905	-23.3%	2.96%	+7.7%
SLW	New	Silver Wheaton Corp.	$1,735,000	–	144,475	–	2.79%	–
AGNC	Sell	American General Capital Corp.	$1,679,000	-18.3%	89,794	-19.8%	2.70%	+26.6%
AMAT	New	Applied Materials, Inc.	$1,659,000	–	112,915	–	2.67%	–
FCX	Sell	Freeport-McMoran Inc.	$1,638,000	-52.8%	169,013	-9.4%	2.63%	-26.9%
GT	Sell	Goodyear Tire & Rubber Co.	$1,622,000	-32.4%	55,311	-30.6%	2.61%	+4.7%
MITT	Sell	AG Mortgage Investment Trust I	$1,613,000	-32.1%	106,004	-22.8%	2.59%	+5.3%
APTS	Sell	Preferred Apartment Communitie	$1,596,000	-7.1%	146,730	-15.0%	2.57%	+44.0%
AMTG	Sell	Apollo Residential Mortgage, I	$1,533,000	-33.7%	121,075	-23.1%	2.46%	+2.8%
BAC	Buy	Bank Of America Corp.	$1,491,000	+135.5%	95,725	+157.5%	2.40%	+265.0%
DVN	New	Devon Energy Corp.	$1,378,000	–	37,145	–	2.22%	–
PRU	New	Prudential Financial, Inc.	$1,376,000	–	18,060	–	2.21%	–
RGLD	Sell	Royal Gold Inc.	$1,248,000	-38.2%	26,555	-19.1%	2.01%	-4.3%
GLNG	Buy	Golar LNG Ltd	$1,229,000	-12.9%	44,090	+46.3%	1.98%	+35.0%
FLY	Sell	Fly Leasing Ltd. ADR	$1,175,000	-30.8%	89,040	-17.7%	1.89%	+7.2%
BBG	Buy	Bill Barrett Corp.	$1,168,000	+587.1%	353,830	+1687.0%	1.88%	+967.0%
PLAB	Sell	Photronics, Inc.	$1,061,000	-32.2%	117,115	-28.9%	1.71%	+5.0%
QRVO	Buy	Qorvo Inc	$1,059,000	-32.6%	23,513	+20.1%	1.70%	+4.4%
VSH	Sell	Vishay Intertechnology, Inc.	$1,059,000	-43.7%	109,272	-32.1%	1.70%	-12.8%
RAD	Sell	Rite Aid Corp.	$1,029,000	-52.1%	169,520	-34.1%	1.66%	-25.8%
REI	Sell	Ring Energy, Inc.	$991,000	-48.3%	100,425	-41.4%	1.59%	-19.9%
MU	Sell	Micron Technology, Inc.	$970,000	-25.5%	64,785	-6.2%	1.56%	+15.5%
KMI	Sell	Kinder Morgan, Inc.	$948,000	-39.5%	34,258	-16.1%	1.52%	-6.2%
SWC	Sell	Stillwater Mining Co.	$947,000	-38.0%	91,655	-30.5%	1.52%	-3.9%
AAL	Sell	American Airlines Group Inc	$883,000	-42.6%	22,745	-40.9%	1.42%	-11.0%
INTC	New	Intel Corp.	$872,000	–	28,930	–	1.40%	–
T	Sell	A T& T Corp.	$867,000	-14.3%	26,600	-6.7%	1.39%	+32.8%
TEN	Sell	Tenneco Automotive, Inc.	$851,000	-46.6%	19,005	-31.6%	1.37%	-17.3%
LYB	Buy	Lyondellbasell Industries NV	$846,000	-2.2%	10,150	+21.4%	1.36%	+51.6%
CLIR	Sell	Clearsign Combustion Corp.	$845,000	-10.4%	136,550	-21.7%	1.36%	+39.0%
NCR	Sell	NCR Corp.	$812,000	-54.6%	35,705	-39.9%	1.31%	-29.6%
KTOS	Sell	Kratos Defense & Security Solu	$811,000	-44.6%	192,120	-17.3%	1.30%	-14.2%
GILD	Sell	Gilead Sciences, Inc.	$803,000	-57.2%	8,180	-49.0%	1.29%	-33.7%
MFA	Sell	MFA Financial, Inc.	$797,000	-12.7%	117,005	-5.3%	1.28%	+35.4%
GG	Sell	Goldcorp, Inc.	$737,000	-34.0%	58,905	-14.5%	1.18%	+2.2%
RRD	Sell	RR Donnelley & Sons Co.	$679,000	-22.0%	46,630	-6.7%	1.09%	+20.8%
MOD	New	Modine Manufacturing Co.	$588,000	–	74,680	–	0.95%	–
GAIN	Buy	Gladstone Investment Corp.	$561,000	-10.4%	79,620	+1.1%	0.90%	+38.8%
APC	Sell	Anadarko Petroleum Corp.	$525,000	-49.6%	8,700	-34.8%	0.84%	-21.9%
C	Sell	Citigroup, Inc.	$500,000	-42.8%	10,081	-36.3%	0.80%	-11.4%
AAPL	Sell	Apple, Inc.	$498,000	-84.3%	4,515	-82.2%	0.80%	-75.7%
AEM	New	Agnico-Eagle Mines LTD	$496,000	–	19,575	–	0.80%	–
DIS	Sell	Walt Disney Co.	$450,000	-39.7%	4,405	-32.6%	0.72%	-6.5%
TSN	Sell	Tyson Foods, Inc. -Cl A	$449,000	-70.6%	10,410	-71.0%	0.72%	-54.4%
TMO	Sell	Thermo Fisher Scientific, Inc.	$434,000	-37.6%	3,550	-33.8%	0.70%	-3.3%
NOG	Sell	Northern Oil & Gas, Inc.	$401,000	-67.4%	90,670	-50.1%	0.64%	-49.5%
GOOG	Sell	Google, Inc. Class C Non Votin	$399,000	-62.3%	655	-67.8%	0.64%	-41.5%
ATI	Sell	Allegheny Technologies Inc	$372,000	-67.3%	26,235	-30.4%	0.60%	-49.4%
EOG	Sell	EOG Resources, Inc.	$358,000	-40.7%	4,915	-28.8%	0.58%	-8.1%
CELG	Sell	Celgene Corp.	$355,000	-59.1%	3,278	-56.3%	0.57%	-36.6%
SNAK	Sell	Inventure Group, Inc.	$322,000	-45.8%	36,315	-38.0%	0.52%	-15.9%
SLB	Sell	Schlumberger Ltd.	$282,000	-22.7%	4,090	-3.5%	0.45%	+19.8%
WYY	New	Widepoint Corp.	$274,000	–	311,185	–	0.44%	–
TWER	Sell	Towerstream Corp.	$271,000	-69.4%	253,175	-48.9%	0.44%	-52.6%
AUSI	Sell	Aura Systems, Inc.	$91,000	-11.7%	2,054,463	-4.7%	0.15%	+36.4%
CIDM	Exit	Cinedigm Corp.	$0	–	-45,505	–	-0.03%	–
JCPNQ	Exit	J. C. Penny Co.	$0	–	-11,870	–	-0.10%	–
MDT	Exit	Medtronic, Inc.	$0	–	-3,618	–	-0.28%	–
EGO	Exit	Eldorado Gold Corp	$0	–	-72,165	–	-0.31%	–
FFIV	Exit	F5 Networks, Inc.	$0	–	-2,500	–	-0.31%	–
SBUX	Exit	Starbucks Corp.	$0	–	-6,000	–	-0.33%	–
GOOGL	Exit	Google, Inc. Class A	$0	–	-700	–	-0.39%	–
IVR	Exit	Invesco Mortgage Capital Inc.	$0	–	-29,391	–	-0.44%	–
FB	Exit	Facebook Inc.	$0	–	-5,190	–	-0.46%	–
SLF	Exit	Sun Life Financial Services Ca	$0	–	-16,000	–	-0.55%	–
MTOR	Exit	Meritor, Inc.	$0	–	-44,755	–	-0.61%	–
PCP	Exit	Precision Castparts Corp.	$0	–	-3,290	–	-0.68%	–
ICE	Exit	Intercontinentalexchange Inc C	$0	–	-3,000	–	-0.70%	–
JPM	Exit	JP Morgan Chase & Co.	$0	–	-11,439	–	-0.80%	–
BA	Exit	Boeing Co.	$0	–	-6,320	–	-0.91%	–
GM	Exit	General Motors	$0	–	-27,500	–	-0.95%	–
UPS	Exit	United Parcel Service Cl B	$0	–	-11,410	–	-1.15%	–
HAL	Exit	Halliburton Co.	$0	–	-27,740	–	-1.24%	–
LVS	Exit	Las Vegas Sands Corp Com	$0	–	-24,100	–	-1.32%	–
BGS	Exit	B&G Foods Inc.	$0	–	-48,380	–	-1.43%	–
IP	Exit	International Paper Co.	$0	–	-30,975	–	-1.53%	–
HILL	Exit	Dot Hill Systems Corp.	$0	–	-477,003	–	-3.03%	–

Q2 2015

			Value		Shares		↓ Weighting
MSFT	New	Microsoft Corp.	$3,957,000	–	89,619	–	4.11%	–
FCX	New	Freeport-McMoran Inc.	$3,474,000	–	186,568	–	3.60%	–
AAPL	New	Apple, Inc.	$3,175,000	–	25,317	–	3.29%	–
HILL	New	Dot Hill Systems Corp.	$2,919,000	–	477,003	–	3.03%	–
GLW	New	Corning, Inc.	$2,731,000	–	138,405	–	2.83%	–
TWO	New	Two Harbors Investment Corp.	$2,652,000	–	272,250	–	2.75%	–
AA	New	Alcoa, Inc.	$2,510,000	–	225,111	–	2.60%	–
GT	New	Goodyear Tire & Rubber Co.	$2,401,000	–	79,651	–	2.49%	–
MITT	New	AG Mortgage Investment Trust I	$2,374,000	–	137,389	–	2.46%	–
AMTG	New	Apollo Residential Mortgage, I	$2,311,000	–	157,350	–	2.40%	–
URI	New	United Rentals, Inc.	$2,226,000	–	25,408	–	2.31%	–
RAD	New	Rite Aid Corp.	$2,148,000	–	257,240	–	2.23%	–
LOW	New	Lowe's Companies, Inc.	$2,057,000	–	30,720	–	2.13%	–
AGNC	New	American General Capital Corp.	$2,056,000	–	111,909	–	2.13%	–
RGLD	New	Royal Gold Inc.	$2,021,000	–	32,810	–	2.10%	–
REI	New	Ring Energy, Inc.	$1,918,000	–	171,380	–	1.99%	–
VSH	New	Vishay Intertechnology, Inc.	$1,881,000	–	161,010	–	1.95%	–
GILD	New	Gilead Sciences, Inc.	$1,877,000	–	16,035	–	1.95%	–
NCR	New	NCR Corp.	$1,789,000	–	59,450	–	1.86%	–
APTS	New	Preferred Apartment Coummuniti	$1,718,000	–	172,695	–	1.78%	–
FLY	New	Fly Leasing Ltd. ADR	$1,699,000	–	108,205	–	1.76%	–
TEN	New	Tenneco Automotive, Inc.	$1,595,000	–	27,770	–	1.66%	–
QRVO	New	Qorvo Inc	$1,572,000	–	19,580	–	1.63%	–
KMI	New	Kinder Morgan, Inc.	$1,567,000	–	40,828	–	1.63%	–
PLAB	New	Photronics, Inc.	$1,566,000	–	164,640	–	1.62%	–
AAL	New	American Airlines Group Inc	$1,537,000	–	38,485	–	1.60%	–
TSN	New	Tyson Foods, Inc. -Cl A	$1,528,000	–	35,845	–	1.58%	–
SWC	New	Stillwater Mining Co.	$1,528,000	–	131,835	–	1.58%	–
IP	New	International Paper Co.	$1,474,000	–	30,975	–	1.53%	–
KTOS	New	Kratos Defense & Security Solu	$1,464,000	–	232,332	–	1.52%	–
GLNG	New	Golar LNG Ltd	$1,411,000	–	30,145	–	1.46%	–
BGS	New	B&G Foods Inc.	$1,380,000	–	48,380	–	1.43%	–
MU	New	Micron Technology, Inc.	$1,302,000	–	69,095	–	1.35%	–
LVS	New	Las Vegas Sands Corp Com	$1,267,000	–	24,100	–	1.32%	–
NOG	New	Northern Oil & Gas, Inc.	$1,231,000	–	181,780	–	1.28%	–
HAL	New	Halliburton Co.	$1,195,000	–	27,740	–	1.24%	–
ATI	New	Allegheny Technologies Inc	$1,139,000	–	37,715	–	1.18%	–
GG	New	Goldcorp, Inc.	$1,117,000	–	68,920	–	1.16%	–
UPS	New	United Parcel Service Cl B	$1,106,000	–	11,410	–	1.15%	–
GOOG	New	Google, Inc. Class C Non Votin	$1,058,000	–	2,032	–	1.10%	–
APC	New	Anadarko Petroleum Corp.	$1,042,000	–	13,350	–	1.08%	–
T	New	A T& T Corp.	$1,012,000	–	28,500	–	1.05%	–
CLIR	New	Clearsign Combustion Corp.	$943,000	–	174,398	–	0.98%	–
GM	New	General Motors	$917,000	–	27,500	–	0.95%	–
MFA	New	MFA Financial, Inc.	$913,000	–	123,560	–	0.95%	–
TWER	New	Towerstream Corp.	$886,000	–	495,140	–	0.92%	–
BA	New	Boeing Co.	$877,000	–	6,320	–	0.91%	–
C	New	Citigroup, Inc.	$874,000	–	15,825	–	0.91%	–
RRD	New	RR Donnelley & Sons Co.	$871,000	–	50,000	–	0.90%	–
CELG	New	Celgene Corp.	$868,000	–	7,498	–	0.90%	–
LYB	New	Lyondellbasell Industries NV	$865,000	–	8,360	–	0.90%	–
JPM	New	JP Morgan Chase & Co.	$775,000	–	11,439	–	0.80%	–
DIS	New	Walt Disney Co.	$746,000	–	6,540	–	0.77%	–
TMO	New	Thermo Fisher Scientific, Inc.	$696,000	–	5,360	–	0.72%	–
ICE	New	Intercontinentalexchange Inc C	$671,000	–	3,000	–	0.70%	–
PCP	New	Precision Castparts Corp.	$658,000	–	3,290	–	0.68%	–
BAC	New	Bank Of America Corp.	$633,000	–	37,170	–	0.66%	–
GAIN	New	Gladstone Investment Corp.	$626,000	–	78,785	–	0.65%	–
EOG	New	EOG Resources, Inc.	$604,000	–	6,900	–	0.63%	–
SNAK	New	Inventure Group, Inc.	$594,000	–	58,540	–	0.62%	–
MTOR	New	Meritor, Inc.	$587,000	–	44,755	–	0.61%	–
SLF	New	Sun Life Financial Services Ca	$534,000	–	16,000	–	0.55%	–
FB	New	Facebook Inc.	$445,000	–	5,190	–	0.46%	–
IVR	New	Invesco Mortgage Capital Inc.	$421,000	–	29,391	–	0.44%	–
GOOGL	New	Google, Inc. Class A	$378,000	–	700	–	0.39%	–
SLB	New	Schlumberger Ltd.	$365,000	–	4,240	–	0.38%	–
SBUX	New	Starbucks Corp.	$322,000	–	6,000	–	0.33%	–
FFIV	New	F5 Networks, Inc.	$301,000	–	2,500	–	0.31%	–
EGO	New	Eldorado Gold Corp	$299,000	–	72,165	–	0.31%	–
MDT	New	Medtronic, Inc.	$268,000	–	3,618	–	0.28%	–
BBG	New	Bill Barrett Corp.	$170,000	–	19,800	–	0.18%	–
AUSI	New	Aura Systems, Inc.	$103,000	–	2,156,114	–	0.11%	–
JCPNQ	New	J. C. Penny Co.	$101,000	–	11,870	–	0.10%	–
SENR	New	Strategic Environmental & Ener	$48,000	–	52,069	–	0.05%	–
CIDM	New	Cinedigm Corp.	$32,000	–	45,505	–	0.03%	–

Q4 2014

			Value		Shares		↓ Weighting
TRUU	Exit	True Drinks Holdings, Inc.	$0	–	-93,300	–	-0.04%	–
WYY	Exit	Widepoint Corp.	$0	–	-43,235	–	-0.08%	–
PULS	Exit	Pulse Electronics Corp.	$0	–	-86,261	–	-0.12%	–
BAC	Exit	Bank Of America Corp.	$0	–	-10,000	–	-0.18%	–
EGO	Exit	Eldorado Gold Corp	$0	–	-28,755	–	-0.21%	–
PRAA	Exit	Portfolio Recovery Assocs Inc	$0	–	-4,500	–	-0.25%	–
GG	Exit	Goldcorp, Inc. New Common	$0	–	-10,400	–	-0.26%	–
GOOG	Exit	Google, Inc. Class C Non Votin	$0	–	-500	–	-0.31%	–
GOOGL	Exit	Google, Inc. Class A	$0	–	-500	–	-0.32%	–
EFC	Exit	Ellington Financial LLC	$0	–	-16,470	–	-0.40%	–
AUSI	Exit	Aura Systems, Inc.	$0	–	-2,656,011	–	-0.57%	–
LNKD	Exit	Linkedin Corp- A	$0	–	-2,790	–	-0.63%	–
FLY	Exit	Fly Leasing Ltd. ADR	$0	–	-48,480	–	-0.67%	–
ESV	Exit	Ensco International, Inc. Clas	$0	–	-15,510	–	-0.69%	–
IVR	Exit	Invesco Mortgage Capital Inc.	$0	–	-43,783	–	-0.74%	–
EOG	Exit	EOG Resources, Inc.	$0	–	-7,316	–	-0.78%	–
REI	Exit	Ring Energy, Inc.	$0	–	-50,615	–	-0.80%	–
PEP	Exit	Pepsico, Inc.	$0	–	-8,362	–	-0.84%	–
DIS	Exit	Walt Disney Co.	$0	–	-8,765	–	-0.84%	–
CELG	Exit	Celgene Corp.	$0	–	-8,324	–	-0.85%	–
JPM	Exit	JP Morgan Chase & Co.	$0	–	-13,159	–	-0.86%	–
GILD	Exit	Gilead Sciences, Inc.	$0	–	-7,470	–	-0.86%	–
C	Exit	Citigroup, Inc.	$0	–	-15,560	–	-0.87%	–
DISCK	Exit	Discovery Holding Co., Cl C	$0	–	-22,800	–	-0.92%	–
TWER	Exit	Towerstream Corp.	$0	–	-639,080	–	-1.02%	–
MFA	Exit	MFA Financial, Inc.	$0	–	-122,850	–	-1.03%	–
VZ	Exit	Verizon Communications, Inc.	$0	–	-20,400	–	-1.10%	–
T	Exit	A T& T Corp.	$0	–	-29,004	–	-1.10%	–
FB	Exit	Facebook Inc.	$0	–	-14,115	–	-1.20%	–
UPS	Exit	United Parcel Service Cl B	$0	–	-11,455	–	-1.22%	–
KMI	Exit	Kinder Morgan, Inc.	$0	–	-29,956	–	-1.24%	–
CLIR	Exit	Clearsign Combustion Corp.	$0	–	-172,636	–	-1.24%	–
CIDM	Exit	Cinedigm Corp.	$0	–	-832,386	–	-1.39%	–
TEN	Exit	Tenneco Automotive, Inc.	$0	–	-25,980	–	-1.47%	–
WGRP	Exit	Willbros Group, Inc.	$0	–	-165,456	–	-1.49%	–
HAL	Exit	Halliburton Co.	$0	–	-21,870	–	-1.52%	–
APC	Exit	Anadarko Petroleum Corp.	$0	–	-13,970	–	-1.53%	–
LOW	Exit	Lowe's Companies, Inc.	$0	–	-30,720	–	-1.76%	–
CRZO	Exit	Carrizo Oil & Gas, Inc.	$0	–	-30,305	–	-1.76%	–
CNK	Exit	Cinemark Holdings, Inc.	$0	–	-47,920	–	-1.76%	–
KTOS	Exit	Kratos Defense & Security Solu	$0	–	-251,413	–	-1.78%	–
GDPMQ	Exit	Goodrich Petroleum Corp	$0	–	-114,395	–	-1.83%	–
NOG	Exit	Northern Oil & Gas, Inc.	$0	–	-119,695	–	-1.84%	–
RAD	Exit	Rite Aid Corp.	$0	–	-357,120	–	-1.86%	–
GE	Exit	General Electric Co.	$0	–	-67,828	–	-1.88%	–
UFS	Exit	Domtar Corp	$0	–	-49,785	–	-1.89%	–
MTOR	Exit	Meritor, Inc.	$0	–	-161,590	–	-1.89%	–
HPQ	Exit	Hewlett-Packard Co.	$0	–	-56,095	–	-2.15%	–
SNDK	Exit	SanDisk Corp.	$0	–	-20,805	–	-2.20%	–
NCR	Exit	NCR Corp.	$0	–	-61,665	–	-2.22%	–
GT	Exit	Goodyear Tire & Rubber Co.	$0	–	-103,258	–	-2.52%	–
MHRCQ	Exit	Magnum Hunter Resources Corp.	$0	–	-419,935	–	-2.52%	–
MU	Exit	Micron Technology, Inc.	$0	–	-68,840	–	-2.54%	–
URI	Exit	United Rentals, Inc.	$0	–	-21,635	–	-2.60%	–
AGNC	Exit	American General Capital Corp.	$0	–	-116,260	–	-2.67%	–
FCX	Exit	Freeport-McMoran Copper & Gold	$0	–	-77,060	–	-2.72%	–
TWO	Exit	Two Harbors Investment Corp.	$0	–	-265,585	–	-2.77%	–
VSH	Exit	Vishay Intertechnology, Inc.	$0	–	-180,010	–	-2.78%	–
AA	Exit	Alcoa, Inc.	$0	–	-159,992	–	-2.78%	–
AMTG	Exit	Apollo Residential Mortgage, I	$0	–	-170,595	–	-2.84%	–
MITT	Exit	AG Mortgage Investment Trust I	$0	–	-148,546	–	-2.85%	–
RFMD	Exit	RF Micro Devices, Inc.	$0	–	-230,235	–	-2.87%	–
HILL	Exit	Dot Hill Systems Corp.	$0	–	-729,160	–	-2.98%	–
GLW	Exit	Corning, Inc.	$0	–	-143,605	–	-3.00%	–
AAPL	Exit	Apple, Inc.	$0	–	-29,299	–	-3.19%	–
MSFT	Exit	Microsoft Corp.	$0	–	-78,109	–	-3.91%	–

Q3 2014

			Value		Shares		↓ Weighting
MSFT	Sell	Microsoft Corp.	$3,621,000	-9.2%	78,109	-18.4%	3.91%	+3.8%
AAPL	Buy	Apple, Inc.	$2,952,000	+15.2%	29,299	+6.3%	3.19%	+31.8%
GLW	Buy	Corning, Inc.	$2,777,000	+7.1%	143,605	+21.5%	3.00%	+22.5%
HILL	Buy	Dot Hill Systems Corp.	$2,756,000	-9.1%	729,160	+13.0%	2.98%	+3.9%
RFMD	Sell	RF Micro Devices, Inc.	$2,657,000	-0.6%	230,235	-17.4%	2.87%	+13.6%
MITT	Sell	AG Mortgage Investment Trust I	$2,644,000	-8.5%	148,546	-2.7%	2.85%	+4.7%
AMTG	Buy	Apollo Residential Mortgage, I	$2,632,000	-1.6%	170,595	+6.6%	2.84%	+12.5%
AA	Sell	Alcoa, Inc.	$2,574,000	-23.1%	159,992	-28.8%	2.78%	-12.1%
VSH	Buy	Vishay Intertechnology, Inc.	$2,572,000	+33.0%	180,010	+44.1%	2.78%	+52.1%
TWO	Buy	Two Harbors Investment Corp.	$2,568,000	+140.4%	265,585	+160.6%	2.77%	+175.0%
FCX	Sell	Freeport-McMoran Copper & Gold	$2,516,000	-19.2%	77,060	-9.6%	2.72%	-7.6%
AGNC	Sell	American General Capital Corp.	$2,471,000	-12.2%	116,260	-3.3%	2.67%	+0.4%
URI	Sell	United Rentals, Inc.	$2,404,000	+0.6%	21,635	-5.2%	2.60%	+15.1%
MU	Buy	Micron Technology, Inc.	$2,358,000	+33.1%	68,840	+28.0%	2.54%	+52.1%
MHRCQ	Buy	Magnum Hunter Resources Corp.	$2,339,000	+2.1%	419,935	+50.2%	2.52%	+16.7%
GT	Sell	Goodyear Tire & Rubber Co.	$2,332,000	-21.8%	103,258	-3.8%	2.52%	-10.6%
NCR	Sell	NCR Corp.	$2,060,000	-5.7%	61,665	-1.0%	2.22%	+7.9%
SNDK	Buy	SanDisk Corp.	$2,038,000	+59.8%	20,805	+70.5%	2.20%	+82.9%
HPQ	Sell	Hewlett-Packard Co.	$1,990,000	-24.1%	56,095	-27.9%	2.15%	-13.2%
MTOR	Sell	Meritor, Inc.	$1,753,000	-19.2%	161,590	-2.9%	1.89%	-7.6%
UFS	New	Domtar Corp	$1,749,000	–	49,785	–	1.89%	–
GE	Buy	General Electric Co.	$1,738,000	+4.5%	67,828	+7.2%	1.88%	+19.5%
RAD	Buy	Rite Aid Corp.	$1,728,000	+172.6%	357,120	+303.8%	1.86%	+211.9%
NOG	Buy	Northern Oil & Gas, Inc.	$1,702,000	-11.4%	119,695	+1.5%	1.84%	+1.3%
GDPMQ	Buy	Goodrich Petroleum Corp	$1,695,000	-5.0%	114,395	+77.0%	1.83%	+8.7%
KTOS	Sell	Kratos Defense & Security Solu	$1,649,000	-19.8%	251,413	-4.6%	1.78%	-8.2%
CNK	Sell	Cinemark Holdings, Inc.	$1,631,000	-59.0%	47,920	-57.4%	1.76%	-53.1%
CRZO	Buy	Carrizo Oil & Gas, Inc.	$1,631,000	-1.4%	30,305	+26.9%	1.76%	+12.8%
APC	Sell	Anadarko Petroleum Corp.	$1,417,000	-19.5%	13,970	-13.1%	1.53%	-7.9%
HAL	Sell	Halliburton Co.	$1,411,000	-17.0%	21,870	-8.7%	1.52%	-5.1%
WGRP	Sell	Willbros Group, Inc.	$1,378,000	-35.2%	165,456	-3.9%	1.49%	-25.9%
TEN	Sell	Tenneco Automotive, Inc.	$1,359,000	-24.7%	25,980	-5.4%	1.47%	-13.9%
CIDM	Sell	Cinedigm Corp.	$1,290,000	-40.1%	832,386	-3.8%	1.39%	-31.5%
CLIR	Sell	Clearsign Combustion Corp.	$1,153,000	-30.0%	172,636	-3.8%	1.24%	-20.0%
KMI	Sell	Kinder Morgan, Inc.	$1,149,000	+1.9%	29,956	-3.7%	1.24%	+16.4%
UPS	Sell	United Parcel Service Cl B	$1,126,000	-8.2%	11,455	-4.2%	1.22%	+4.9%
FB	Buy	Facebook Inc.	$1,116,000	+63.6%	14,115	+39.3%	1.20%	+87.1%
T	New	A T& T Corp.	$1,022,000	–	29,004	–	1.10%	–
VZ	New	Verizon Communications, Inc.	$1,020,000	–	20,400	–	1.10%	–
MFA	Sell	MFA Financial, Inc.	$956,000	-6.4%	122,850	-1.2%	1.03%	+7.1%
TWER	Buy	Towerstream Corp.	$946,000	-21.0%	639,080	+3.4%	1.02%	-9.7%
DISCK	Buy	Discovery Holding Co., Cl C	$850,000	+14.7%	22,800	+123.3%	0.92%	+31.3%
C	Sell	Citigroup, Inc.	$806,000	+2.8%	15,560	-6.5%	0.87%	+17.6%
GILD	Sell	Gilead Sciences, Inc.	$795,000	+19.2%	7,470	-7.1%	0.86%	+36.2%
JPM	Sell	JP Morgan Chase & Co.	$793,000	-2.6%	13,159	-6.9%	0.86%	+11.5%
CELG	Sell	Celgene Corp.	$789,000	+3.7%	8,324	-6.0%	0.85%	+18.7%
DIS	Sell	Walt Disney Co.	$780,000	-4.6%	8,765	-8.1%	0.84%	+9.1%
PEP	Sell	Pepsico, Inc.	$778,000	-2.3%	8,362	-6.2%	0.84%	+11.9%
REI	New	Ring Energy, Inc.	$746,000	–	50,615	–	0.80%	–
EOG	Sell	EOG Resources, Inc.	$724,000	-21.0%	7,316	-6.8%	0.78%	-9.7%
IVR	Sell	Invesco Mortgage Capital Inc.	$688,000	-13.1%	43,783	-4.0%	0.74%	-0.7%
ESV	Sell	Ensco International, Inc. Clas	$641,000	-59.0%	15,510	-44.9%	0.69%	-53.1%
FLY	New	Fly Leasing Ltd. ADR	$621,000	–	48,480	–	0.67%	–
LNKD	Sell	Linkedin Corp- A	$580,000	+13.5%	2,790	-6.4%	0.63%	+29.9%
PRAA	New	Portfolio Recovery Assocs Inc	$235,000	–	4,500	–	0.25%	–
PULS	Sell	Pulse Electronics Corp.	$116,000	-56.9%	86,261	-19.9%	0.12%	-50.8%
TRUU	Sell	True Drinks Holdings, Inc.	$33,000	-43.1%	93,300	-35.3%	0.04%	-34.5%
	Exit	Schwab Value Advantage Money F	$0	–	-16,331	–	-0.02%	–
CMO	Exit	Capstead Mortgage REIT	$0	–	-59,447	–	-0.74%	–
SWC	Exit	Stillwater Mining Co.	$0	–	-62,250	–	-1.03%	–
QCOM	Exit	Qualcomm, Inc.	$0	–	-13,913	–	-1.04%	–
HEROQ	Exit	Hercules Offshore, Inc.	$0	–	-291,515	–	-1.11%	–
INTC	Exit	Intel Corp.	$0	–	-62,720	–	-1.83%	–
POT	Exit	Potash Corp. of Saskatchewan	$0	–	-59,695	–	-2.14%	–
SLW	Exit	Silver Wheaton Corp.	$0	–	-154,297	–	-3.83%	–

Q2 2014

			Value		Shares		↓ Weighting
SLW	New	Silver Wheaton Corp.	$4,053,000	–	154,297	–	3.83%	–
MSFT	New	Microsoft Corp.	$3,990,000	–	95,689	–	3.77%	–
CNK	New	Cinemark Holdings, Inc.	$3,979,000	–	112,533	–	3.76%	–
AA	New	Alcoa, Inc.	$3,348,000	–	224,857	–	3.16%	–
FCX	New	Freeport-McMoran Copper & Gold	$3,113,000	–	85,285	–	2.94%	–
HILL	New	Dot Hill Systems Corp.	$3,032,000	–	645,025	–	2.86%	–
GT	New	Goodyear Tire & Rubber Co.	$2,981,000	–	107,303	–	2.81%	–
MITT	New	AG Mortgage Investment Trust I	$2,889,000	–	152,641	–	2.73%	–
AGNC	New	American General Capital Corp.	$2,815,000	–	120,260	–	2.66%	–
AMTG	New	Apollo Residential Mortgage, I	$2,676,000	–	160,050	–	2.53%	–
RFMD	New	RF Micro Devices, Inc.	$2,674,000	–	278,850	–	2.52%	–
HPQ	New	Hewlett-Packard Co.	$2,621,000	–	77,835	–	2.47%	–
GLW	New	Corning, Inc.	$2,594,000	–	118,170	–	2.45%	–
AAPL	New	Apple, Inc.	$2,562,000	–	27,570	–	2.42%	–
URI	New	United Rentals, Inc.	$2,389,000	–	22,810	–	2.26%	–
MHRCQ	New	Magnum Hunter Resources Corp.	$2,292,000	–	279,570	–	2.16%	–
POT	New	Potash Corp. of Saskatchewan	$2,266,000	–	59,695	–	2.14%	–
NCR	New	NCR Corp.	$2,185,000	–	62,265	–	2.06%	–
MTOR	New	Meritor, Inc.	$2,170,000	–	166,400	–	2.05%	–
CIDM	New	Cinedigm Corp.	$2,154,000	–	865,061	–	2.03%	–
WGRP	New	Willbros Group, Inc.	$2,127,000	–	172,211	–	2.01%	–
KTOS	New	Kratos Defense & Security Solu	$2,055,000	–	263,428	–	1.94%	–
INTC	New	Intel Corp.	$1,938,000	–	62,720	–	1.83%	–
VSH	New	Vishay Intertechnology, Inc.	$1,934,000	–	124,880	–	1.82%	–
NOG	New	Northern Oil & Gas, Inc.	$1,921,000	–	117,955	–	1.81%	–
TEN	New	Tenneco Automotive, Inc.	$1,804,000	–	27,465	–	1.70%	–
GDPMQ	New	Goodrich Petroleum Corp	$1,784,000	–	64,625	–	1.68%	–
MU	New	Micron Technology, Inc.	$1,772,000	–	53,790	–	1.67%	–
APC	New	Anadarko Petroleum Corp.	$1,760,000	–	16,075	–	1.66%	–
HAL	New	Halliburton Co.	$1,700,000	–	23,945	–	1.60%	–
GE	New	General Electric Co.	$1,663,000	–	63,278	–	1.57%	–
CRZO	New	Carrizo Oil & Gas, Inc.	$1,654,000	–	23,875	–	1.56%	–
CLIR	New	Clearsign Combustion Corp.	$1,648,000	–	179,521	–	1.56%	–
ESV	New	Ensco International, Inc. Clas	$1,563,000	–	28,130	–	1.48%	–
LOW	New	Lowe's Companies, Inc.	$1,474,000	–	30,720	–	1.39%	–
SNDK	New	SanDisk Corp.	$1,275,000	–	12,205	–	1.20%	–
UPS	New	United Parcel Service Cl B	$1,227,000	–	11,955	–	1.16%	–
TWER	New	Towerstream Corp.	$1,198,000	–	617,770	–	1.13%	–
HEROQ	New	Hercules Offshore, Inc.	$1,172,000	–	291,515	–	1.11%	–
KMI	New	Kinder Morgan, Inc.	$1,128,000	–	31,106	–	1.06%	–
QCOM	New	Qualcomm, Inc.	$1,102,000	–	13,913	–	1.04%	–
SWC	New	Stillwater Mining Co.	$1,092,000	–	62,250	–	1.03%	–
TWO	New	Two Harbors Investment Corp.	$1,068,000	–	101,900	–	1.01%	–
MFA	New	MFA Financial, Inc.	$1,021,000	–	124,300	–	0.96%	–
EOG	New	EOG Resources, Inc.	$917,000	–	7,846	–	0.87%	–
DIS	New	Walt Disney Co.	$818,000	–	9,540	–	0.77%	–
JPM	New	JP Morgan Chase & Co.	$814,000	–	14,134	–	0.77%	–
PEP	New	Pepsico, Inc.	$796,000	–	8,912	–	0.75%	–
IVR	New	Invesco Mortgage Capital Inc.	$792,000	–	45,618	–	0.75%	–
C	New	Citigroup, Inc.	$784,000	–	16,647	–	0.74%	–
CMO	New	Capstead Mortgage REIT	$782,000	–	59,447	–	0.74%	–
CELG	New	Celgene Corp.	$761,000	–	8,858	–	0.72%	–
DISCK	New	Discovery Holding Co., Cl C	$741,000	–	10,210	–	0.70%	–
FB	New	Facebook Inc.	$682,000	–	10,135	–	0.64%	–
GILD	New	Gilead Sciences, Inc.	$667,000	–	8,045	–	0.63%	–
RAD	New	Rite Aid Corp.	$634,000	–	88,440	–	0.60%	–
LNKD	New	Linkedin Corp- A	$511,000	–	2,980	–	0.48%	–
EFC	New	Ellington Financial LLC	$395,000	–	16,470	–	0.37%	–
AUSI	New	Aura Systems, Inc.	$325,000	–	2,656,011	–	0.31%	–
GOOGL	New	Google, Inc. Class A	$292,000	–	500	–	0.28%	–
GG	New	Goldcorp, Inc. New Common	$290,000	–	10,400	–	0.27%	–
GOOG	New	Google, Inc. Class C Non Votin	$288,000	–	500	–	0.27%	–
PULS	New	Pulse Electronics Corp.	$269,000	–	107,671	–	0.25%	–
EGO	New	Eldorado Gold Corp	$220,000	–	28,755	–	0.21%	–
BAC	New	Bank Of America Corp.	$154,000	–	10,000	–	0.14%	–
WYY	New	Widepoint Corp.	$76,000	–	43,235	–	0.07%	–
TRUU	New	True Drinks Holdings, Inc.	$58,000	–	144,150	–	0.06%	–
	New	Schwab Value Advantage Money F	$16,000	–	16,331	–	0.02%	–

Q4 2013

			Value		Shares		↓ Weighting
TRUU	Exit	True Drinks Holdings Inc.	$0	–	-147,225	–	-0.10%	–
BAC	Exit	Bank Of America Corp.	$0	–	-10,000	–	-0.15%	–
EGO	Exit	Eldorado Gold Corp	$0	–	-29,075	–	-0.21%	–
GG	Exit	Goldcorp, Inc. New Common	$0	–	-10,455	–	-0.29%	–
LGCY	Exit	Legacy Reserves LP	$0	–	-10,195	–	-0.30%	–
EFC	Exit	Ellington Financial LLC	$0	–	-16,470	–	-0.40%	–
AMTG	Exit	Apollo Residential Mortgage In	$0	–	-28,570	–	-0.45%	–
GOOGL	Exit	Google, Inc. Class A	$0	–	-500	–	-0.47%	–
MITT	Exit	AG Mortgage Investment Trust I	$0	–	-29,100	–	-0.52%	–
AUSI	Exit	Aura Systems, Inc.	$0	–	-2,679,661	–	-0.64%	–
DOW	Exit	Dow Chemical Co.	$0	–	-15,625	–	-0.65%	–
DIS	Exit	Walt Disney Co.	$0	–	-9,390	–	-0.65%	–
CELG	Exit	Celgene Corp.	$0	–	-4,142	–	-0.69%	–
DCIN	Exit	Digital Cinema Destinations Co	$0	–	-107,150	–	-0.70%	–
TEN	Exit	Tenneco Automotive, Inc.	$0	–	-14,170	–	-0.77%	–
GE	Exit	General Electric Co.	$0	–	-30,247	–	-0.78%	–
ESV	Exit	Ensco International, Inc. Clas	$0	–	-13,985	–	-0.81%	–
APL	Exit	Atlas Pipeline Partners L.P.	$0	–	-20,060	–	-0.84%	–
PEP	Exit	Pepsico, Inc.	$0	–	-9,862	–	-0.85%	–
JPM	Exit	JP Morgan Chase & Co.	$0	–	-15,489	–	-0.86%	–
C	Exit	Citigroup, Inc.	$0	–	-17,760	–	-0.93%	–
DD	Exit	Du Pont (E.I.) De Nemours	$0	–	-14,945	–	-0.94%	–
DISCK	Exit	Discovery Holding Co., Cl C	$0	–	-11,240	–	-0.95%	–
PULS	Exit	Pulse Electronics Corp.	$0	–	-227,766	–	-0.96%	–
WMT	Exit	Wal-Mart Stores, Inc.	$0	–	-12,820	–	-1.02%	–
TWER	Exit	Towerstream Corp	$0	–	-337,095	–	-1.04%	–
AIR	Exit	AAR Corp.	$0	–	-37,736	–	-1.11%	–
KMI	Exit	Kinder Morgan, Inc.	$0	–	-29,326	–	-1.12%	–
APC	Exit	Anadarko Petroleum Corp.	$0	–	-11,485	–	-1.15%	–
CLIR	Exit	Clearsign Combustion Corp.	$0	–	-152,361	–	-1.16%	–
HAL	Exit	Halliburton Co.	$0	–	-22,505	–	-1.17%	–
SYMM	Exit	Symmetricom Inc	$0	–	-248,701	–	-1.29%	–
EMC	Exit	EMC Corp.	$0	–	-47,110	–	-1.30%	–
IVR	Exit	Invesco Mortgage Capital Inc.	$0	–	-86,087	–	-1.43%	–
AGNC	Exit	American Capital Agency Corp	$0	–	-59,860	–	-1.46%	–
CMO	Exit	Capstead Mortgage REIT	$0	–	-117,072	–	-1.49%	–
MTOR	Exit	Meritor, Inc.	$0	–	-176,590	–	-1.50%	–
PRU	Exit	Prudential Financial, Inc.	$0	–	-17,795	–	-1.50%	–
HEROQ	Exit	Hercules Offshore Inc	$0	–	-190,995	–	-1.52%	–
CIDM	Exit	Cinedigm Corp	$0	–	-949,431	–	-1.54%	–
TEVA	Exit	Teva Pharmaceutical Industries	$0	–	-37,977	–	-1.55%	–
WGRP	Exit	Willbros Group, Inc.	$0	–	-156,310	–	-1.55%	–
UPS	Exit	United Parcel Service Cl B	$0	–	-16,009	–	-1.58%	–
LOW	Exit	Lowe's Companies, Inc.	$0	–	-30,720	–	-1.58%	–
BBG	Exit	Bill Barrett Corp	$0	–	-58,560	–	-1.59%	–
KTOS	Exit	Kratos Defense & Security Solu	$0	–	-178,212	–	-1.59%	–
POT	Exit	Potash Corp. Of Saskatchewan	$0	–	-47,324	–	-1.60%	–
INTC	Exit	Intel Corp.	$0	–	-65,215	–	-1.61%	–
MCD	Exit	McDonalds Corp.	$0	–	-16,453	–	-1.71%	–
QCOM	Exit	Qualcomm, Inc.	$0	–	-24,148	–	-1.75%	–
VSH	Exit	Vishay Intertechnology	$0	–	-127,885	–	-1.78%	–
NOG	Exit	Northern Oil and Gas Inc.	$0	–	-115,195	–	-1.79%	–
JOY	Exit	Joy Global, Inc.	$0	–	-35,248	–	-1.94%	–
AA	Exit	Alcoa, Inc.	$0	–	-223,813	–	-1.96%	–
HILL	Exit	Dot Hill Systems Corp	$0	–	-862,173	–	-1.99%	–
URI	Exit	United Rentals, Inc.	$0	–	-32,265	–	-2.03%	–
MU	Exit	Micron Technology, Inc.	$0	–	-110,900	–	-2.09%	–
CRZO	Exit	Carrizo Oil & Gas Inc.	$0	–	-52,940	–	-2.13%	–
MHRCQ	Exit	Magnum Hunter Resources Corp	$0	–	-321,810	–	-2.14%	–
RFMD	Exit	RF Micro Devices, Inc.	$0	–	-359,915	–	-2.19%	–
DVN	Exit	Devon Energy Corp.	$0	–	-35,428	–	-2.21%	–
HPQ	Exit	Hewlett-Packard Co.	$0	–	-105,800	–	-2.40%	–
GLW	Exit	Corning, Inc.	$0	–	-158,165	–	-2.49%	–
FCX	Exit	Freeport-McMoran Copper Class	$0	–	-72,321	–	-2.58%	–
GT	Exit	Goodyear Tire & Rubber	$0	–	-107,477	–	-2.60%	–
MSFT	Exit	Microsoft Corp.	$0	–	-74,124	–	-2.66%	–
ESIO	Exit	Electro Scientific Industries	$0	–	-217,701	–	-2.75%	–
SLW	Exit	Silver Wheaton Corp	$0	–	-122,505	–	-3.27%	–
CNK	Exit	Cinemark Holdings Inc.	$0	–	-99,235	–	-3.40%	–
AAPL	Exit	Apple, Inc.	$0	–	-7,341	–	-3.78%	–

Q3 2013

			Value		Shares		↓ Weighting
AAPL	Buy	Apple, Inc.	$3,500,000	+48.9%	7,341	+23.8%	3.78%	+40.4%
CNK	Sell	Cinemark Holdings Inc.	$3,150,000	+8.0%	99,235	-5.0%	3.40%	+1.8%
SLW	Sell	Silver Wheaton Corp	$3,034,000	+21.3%	122,505	-3.7%	3.27%	+14.4%
ESIO	Buy	Electro Scientific Industries	$2,545,000	+96.5%	217,701	+80.9%	2.75%	+85.3%
MSFT	Sell	Microsoft Corp.	$2,467,000	-15.6%	74,124	-12.4%	2.66%	-20.5%
GT	Sell	Goodyear Tire & Rubber	$2,413,000	+1.7%	107,477	-30.7%	2.60%	-4.1%
FCX	Buy	Freeport-McMoran Copper Class	$2,392,000	+52.8%	72,321	+27.6%	2.58%	+44.1%
GLW	Buy	Corning, Inc.	$2,308,000	+8.9%	158,165	+6.1%	2.49%	+2.6%
HPQ	Buy	Hewlett-Packard Co.	$2,221,000	+29.1%	105,800	+52.5%	2.40%	+21.7%
DVN	Sell	Devon Energy Corp.	$2,046,000	+11.1%	35,428	-0.2%	2.21%	+4.7%
RFMD	Buy	RF Micro Devices, Inc.	$2,030,000	+9.4%	359,915	+3.7%	2.19%	+3.2%
MHRCQ	Sell	Magnum Hunter Resources Corp	$1,986,000	+14.6%	321,810	-32.2%	2.14%	+8.0%
CRZO	Sell	Carrizo Oil & Gas Inc.	$1,974,000	+22.4%	52,940	-7.0%	2.13%	+15.4%
MU	Sell	Micron Technology, Inc.	$1,937,000	+16.0%	110,900	-4.8%	2.09%	+9.4%
URI	Sell	United Rentals, Inc.	$1,881,000	+9.7%	32,265	-6.1%	2.03%	+3.4%
HILL	Sell	Dot Hill Systems Corp	$1,845,000	-9.0%	862,173	-6.9%	1.99%	-14.2%
AA	Sell	Alcoa, Inc.	$1,817,000	+0.7%	223,813	-3.1%	1.96%	-5.1%
JOY	Sell	Joy Global, Inc.	$1,799,000	+0.3%	35,248	-4.6%	1.94%	-5.4%
NOG	Buy	Northern Oil and Gas Inc.	$1,662,000	+35.6%	115,195	+25.3%	1.79%	+27.8%
VSH	Buy	Vishay Intertechnology	$1,648,000	+3.8%	127,885	+11.9%	1.78%	-2.1%
QCOM	Sell	Qualcomm, Inc.	$1,626,000	+9.0%	24,148	-1.1%	1.75%	+2.7%
MCD	New	McDonalds Corp.	$1,583,000	–	16,453	–	1.71%	–
INTC	Sell	Intel Corp.	$1,495,000	-6.5%	65,215	-1.2%	1.61%	-11.9%
POT	New	Potash Corp. Of Saskatchewan	$1,480,000	–	47,324	–	1.60%	–
KTOS	Sell	Kratos Defense & Security Solu	$1,476,000	-13.4%	178,212	-32.2%	1.59%	-18.3%
BBG	Sell	Bill Barrett Corp	$1,470,000	+16.1%	58,560	-6.5%	1.59%	+9.5%
UPS	Sell	United Parcel Service Cl B	$1,463,000	+3.2%	16,009	-2.3%	1.58%	-2.7%
TEVA	Buy	Teva Pharmaceutical Industries	$1,435,000	+54.6%	37,977	+60.4%	1.55%	+45.8%
WGRP	Sell	Willbros Group, Inc.	$1,435,000	-2.1%	156,310	-34.5%	1.55%	-7.7%
CIDM	New	Cinedigm Corp	$1,424,000	–	949,431	–	1.54%	–
HEROQ	Sell	Hercules Offshore Inc	$1,406,000	-3.4%	190,995	-7.7%	1.52%	-9.0%
MTOR	Sell	Meritor, Inc.	$1,388,000	+4.3%	176,590	-6.5%	1.50%	-1.6%
PRU	Sell	Prudential Financial, Inc.	$1,388,000	+2.1%	17,795	-4.4%	1.50%	-3.7%
CMO	Buy	Capstead Mortgage REIT	$1,378,000	+112.3%	117,072	+118.4%	1.49%	+100.1%
AGNC	Buy	American Capital Agency Corp	$1,352,000	+128.0%	59,860	+132.4%	1.46%	+114.9%
IVR	New	Invesco Mortgage Capital Inc.	$1,325,000	–	86,087	–	1.43%	–
EMC	Sell	EMC Corp.	$1,204,000	+7.1%	47,110	-1.0%	1.30%	+0.9%
SYMM	Sell	Symmetricom Inc	$1,199,000	+0.3%	248,701	-6.5%	1.29%	-5.4%
HAL	Sell	Halliburton Co.	$1,084,000	-13.3%	22,505	-24.9%	1.17%	-18.2%
CLIR	Buy	Clearsign Combustion Corp.	$1,074,000	+43.6%	152,361	+77.6%	1.16%	+35.4%
APC	Sell	Anadarko Petroleum Corp.	$1,068,000	+6.6%	11,485	-1.5%	1.15%	+0.4%
KMI	Sell	Kinder Morgan, Inc.	$1,043,000	-10.2%	29,326	-3.6%	1.12%	-15.3%
AIR	Sell	AAR Corp.	$1,031,000	-47.1%	37,736	-57.4%	1.11%	-50.1%
TWER	Sell	Towerstream Corp	$961,000	+4.7%	337,095	-6.3%	1.04%	-1.3%
WMT	New	Wal-Mart Stores, Inc.	$948,000	–	12,820	–	1.02%	–
PULS	Buy	Pulse Electronics Corp.	$888,000	+407.4%	227,766	+241.4%	0.96%	+379.0%
DISCK	Sell	Discovery Holding Co., Cl C	$878,000	+10.0%	11,240	-1.7%	0.95%	+3.7%
DD	Sell	Du Pont (E.I.) De Nemours	$875,000	+10.2%	14,945	-1.2%	0.94%	+3.9%
C	Sell	Citigroup, Inc.	$862,000	-0.7%	17,760	-1.8%	0.93%	-6.4%
JPM	Sell	JP Morgan Chase & Co.	$801,000	-4.0%	15,489	-1.9%	0.86%	-9.5%
PEP	Sell	Pepsico, Inc.	$784,000	-7.0%	9,862	-4.4%	0.85%	-12.3%
APL	Buy	Atlas Pipeline Partners L.P.	$778,000	+152.6%	20,060	+148.9%	0.84%	+137.7%
ESV	Sell	Ensco International, Inc. Clas	$752,000	-65.2%	13,985	-62.4%	0.81%	-67.2%
GE	Sell	General Electric Co.	$723,000	+1.8%	30,247	-1.2%	0.78%	-4.1%
TEN	Sell	Tenneco Automotive, Inc.	$716,000	-44.7%	14,170	-50.4%	0.77%	-47.8%
DCIN	Sell	Digital Cinema Destinations Co	$652,000	-11.9%	107,150	-17.3%	0.70%	-16.9%
CELG	Sell	Celgene Corp.	$638,000	-25.5%	4,142	-43.4%	0.69%	-29.8%
DIS	Sell	Walt Disney Co.	$606,000	-36.7%	9,390	-38.1%	0.65%	-40.4%
DOW	Sell	Dow Chemical Co.	$600,000	+7.7%	15,625	-9.7%	0.65%	+1.4%
AUSI	Sell	Aura Systems, Inc.	$589,000	-31.3%	2,679,661	-0.0%	0.64%	-35.2%
LGCY	Sell	Legacy Reserves LP	$275,000	-8.0%	10,195	-9.3%	0.30%	-13.2%
GG	Sell	Goldcorp, Inc. New Common	$272,000	+4.2%	10,455	-0.9%	0.29%	-2.0%
EGO	Sell	Eldorado Gold Corp	$195,000	+7.7%	29,075	-0.9%	0.21%	+1.4%
TRUU	New	True Drinks Holdings Inc.	$91,000	–	147,225	–	0.10%	–
NBCT	Exit	Northwest Bancorporation, Inc.	$0	–	-16,384	–	-0.12%	–
IO	Exit	ION Geophysical Corp	$0	–	-19,350	–	-0.13%	–
WMC	Exit	Western Asset Mortgage Capital	$0	–	-22,690	–	-0.45%	–
	Exit	Invesco Mortgage Capital Inc.	$0	–	-24,215	–	-0.46%	–
IBM	Exit	IBM, Inc.	$0	–	-2,477	–	-0.54%	–
CLF	Exit	Cliffs Natural Resources Inc.	$0	–	-29,775	–	-0.55%	–
UNXLQ	Exit	Uni-Pixel Inc.	$0	–	-45,875	–	-0.77%	–
STSA	Exit	Sterling Financial Corp.	$0	–	-30,816	–	-0.84%	–
APA	Exit	Apache Corp.	$0	–	-15,590	–	-1.50%	–
BA	Exit	Boeing Co.	$0	–	-12,767	–	-1.50%	–
CIDM	Exit	Cinedigm Digital Cinema Corp	$0	–	-999,636	–	-1.62%	–

Q2 2013

			Value		Shares		↓ Weighting
MSFT	New	Microsoft Corp.	$2,924,000	–	84,654	–	3.35%	–
CNK	New	Cinemark Holdings Inc.	$2,916,000	–	104,450	–	3.34%	–
SLW	New	Silver Wheaton Corp	$2,501,000	–	127,147	–	2.86%	–
GT	New	Goodyear Tire & Rubber	$2,372,000	–	155,042	–	2.72%	–
AAPL	New	Apple, Inc.	$2,351,000	–	5,930	–	2.69%	–
ESV	New	Ensco International, Inc. Clas	$2,163,000	–	37,223	–	2.48%	–
GLW	New	Corning, Inc.	$2,120,000	–	149,011	–	2.43%	–
HILL	New	Dot Hill Systems Corp	$2,027,000	–	925,584	–	2.32%	–
AIR	New	AAR Corp.	$1,948,000	–	88,634	–	2.23%	–
RFMD	New	RF Micro Devices, Inc.	$1,855,000	–	346,985	–	2.12%	–
DVN	New	Devon Energy Corp.	$1,842,000	–	35,503	–	2.11%	–
AA	New	Alcoa, Inc.	$1,805,000	–	230,858	–	2.07%	–
JOY	New	Joy Global, Inc.	$1,793,000	–	36,937	–	2.05%	–
MHRCQ	New	Magnum Hunter Resources Corp	$1,733,000	–	474,805	–	1.98%	–
HPQ	New	Hewlett-Packard Co.	$1,720,000	–	69,375	–	1.97%	–
URI	New	United Rentals, Inc.	$1,715,000	–	34,370	–	1.96%	–
KTOS	New	Kratos Defense & Security Solu	$1,704,000	–	262,923	–	1.95%	–
MU	New	Micron Technology, Inc.	$1,670,000	–	116,520	–	1.91%	–
CRZO	New	Carrizo Oil & Gas Inc.	$1,613,000	–	56,935	–	1.85%	–
INTC	New	Intel Corp.	$1,599,000	–	65,990	–	1.83%	–
VSH	New	Vishay Intertechnology	$1,587,000	–	114,245	–	1.82%	–
FCX	New	Freeport-McMoran Copper Class	$1,565,000	–	56,670	–	1.79%	–
QCOM	New	Qualcomm, Inc.	$1,492,000	–	24,423	–	1.71%	–
WGRP	New	Willbros Group, Inc.	$1,466,000	–	238,810	–	1.68%	–
HEROQ	New	Hercules Offshore Inc	$1,456,000	–	206,880	–	1.67%	–
CIDM	New	Cinedigm Digital Cinema Corp	$1,419,000	–	999,636	–	1.62%	–
UPS	New	United Parcel Service Cl B	$1,417,000	–	16,384	–	1.62%	–
PRU	New	Prudential Financial, Inc.	$1,359,000	–	18,615	–	1.56%	–
MTOR	New	Meritor, Inc.	$1,331,000	–	188,860	–	1.52%	–
BA	New	Boeing Co.	$1,308,000	–	12,767	–	1.50%	–
APA	New	Apache Corp.	$1,307,000	–	15,590	–	1.50%	–
TEN	New	Tenneco Automotive, Inc.	$1,295,000	–	28,595	–	1.48%	–
ESIO	New	Electro Scientific Industries	$1,295,000	–	120,317	–	1.48%	–
BBG	New	Bill Barrett Corp	$1,266,000	–	62,600	–	1.45%	–
LOW	New	Lowe's Companies, Inc.	$1,256,000	–	30,720	–	1.44%	–
HAL	New	Halliburton Co.	$1,250,000	–	29,960	–	1.43%	–
NOG	New	Northern Oil and Gas Inc.	$1,226,000	–	91,920	–	1.40%	–
SYMM	New	Symmetricom Inc	$1,195,000	–	266,041	–	1.37%	–
KMI	New	Kinder Morgan, Inc.	$1,161,000	–	30,425	–	1.33%	–
EMC	New	EMC Corp.	$1,124,000	–	47,585	–	1.29%	–
APC	New	Anadarko Petroleum Corp.	$1,002,000	–	11,660	–	1.15%	–
DIS	New	Walt Disney Co.	$958,000	–	15,177	–	1.10%	–
TEVA	New	Teva Pharmaceutical Industries	$928,000	–	23,680	–	1.06%	–
TWER	New	Towerstream Corp	$918,000	–	359,935	–	1.05%	–
C	New	Citigroup, Inc.	$868,000	–	18,092	–	0.99%	–
AUSI	New	Aura Systems, Inc.	$857,000	–	2,679,662	–	0.98%	–
CELG	New	Celgene Corp.	$856,000	–	7,319	–	0.98%	–
PEP	New	Pepsico, Inc.	$843,000	–	10,312	–	0.96%	–
JPM	New	JP Morgan Chase & Co.	$834,000	–	15,789	–	0.96%	–
DISCK	New	Discovery Holding Co., Cl C	$798,000	–	11,440	–	0.91%	–
DD	New	Du Pont (E.I.) De Nemours	$794,000	–	15,120	–	0.91%	–
CLIR	New	Clearsign Combustion Corp.	$748,000	–	85,780	–	0.86%	–
DCIN	New	Digital Cinema Destinations Co	$740,000	–	129,540	–	0.85%	–
STSA	New	Sterling Financial Corp.	$733,000	–	30,816	–	0.84%	–
GE	New	General Electric Co.	$710,000	–	30,622	–	0.81%	–
UNXLQ	New	Uni-Pixel Inc.	$673,000	–	45,875	–	0.77%	–
CMO	New	Capstead Mortgage REIT	$649,000	–	53,602	–	0.74%	–
AGNC	New	American Capital Agency Corp	$593,000	–	25,760	–	0.68%	–
DOW	New	Dow Chemical Co.	$557,000	–	17,303	–	0.64%	–
MITT	New	AG Mortgage Investment Trust I	$547,000	–	29,100	–	0.63%	–
CLF	New	Cliffs Natural Resources Inc.	$484,000	–	29,775	–	0.55%	–
IBM	New	IBM, Inc.	$473,000	–	2,477	–	0.54%	–
AMTG	New	Apollo Residential Mortgage In	$471,000	–	28,570	–	0.54%	–
GOOGL	New	Google, Inc. Class A	$440,000	–	500	–	0.50%	–
	New	Invesco Mortgage Capital Inc.	$401,000	–	24,215	–	0.46%	–
WMC	New	Western Asset Mortgage Capital	$396,000	–	22,690	–	0.45%	–
EFC	New	Ellington Financial LLC	$376,000	–	16,470	–	0.43%	–
APL	New	Atlas Pipeline Partners L.P.	$308,000	–	8,060	–	0.35%	–
LGCY	New	Legacy Reserves LP	$299,000	–	11,245	–	0.34%	–
GG	New	Goldcorp, Inc. New Common	$261,000	–	10,545	–	0.30%	–
EGO	New	Eldorado Gold Corp	$181,000	–	29,325	–	0.21%	–
PULS	New	Pulse Electronics Corp.	$175,000	–	66,719	–	0.20%	–
BAC	New	Bank Of America Corp.	$129,000	–	10,000	–	0.15%	–
IO	New	ION Geophysical Corp	$116,000	–	19,350	–	0.13%	–
NBCT	New	Northwest Bancorporation, Inc.	$105,000	–	16,384	–	0.12%	–

Compare quarters

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