Olstein Capital Management, L.P. Activity Q4 1999-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
ST	Buy	SENSATA TECHNOLOGIES HLDNG P	$11,573	-7.0%	306,000	+10.7%	1.98%	-1.3%
	Sell	WARNER BROS DISCOVERY INC	$11,362	-14.5%	1,046,200	-1.2%	1.95%	-9.3%
DIS	Buy	DISNEY WALT CO	$11,266	-2.2%	139,000	+7.8%	1.93%	+3.7%
ABM	Buy	ABM INDS INC	$10,883	-4.1%	272,000	+2.3%	1.87%	+1.7%
CVS	Buy	CVS HEALTH CORP	$10,822	+13.4%	155,000	+12.3%	1.86%	+20.3%
IFF	Buy	INTERNATIONAL FLAVORS&FRAGRANCE	$9,680	-1.1%	142,000	+15.4%	1.66%	+4.9%
DIN	Buy	DINE BRANDS GLOBAL INC	$9,544	+18.3%	193,000	+38.8%	1.64%	+25.5%
KLIC	Buy	KULICKE & SOFFA INDS INC	$9,434	-7.2%	194,000	+13.5%	1.62%	-1.6%
CTVA	Buy	CORTEVA INC	$9,413	+9.5%	184,000	+22.7%	1.61%	+16.1%
CFG	Buy	CITIZENS FINL GROUP INC	$9,112	+3.7%	340,000	+0.9%	1.56%	+9.9%
MHK	Buy	MOHAWK INDS INC	$9,096	+8.9%	106,000	+30.9%	1.56%	+15.5%
CSCO	Sell	CISCO SYS INC	$9,085	-15.6%	169,000	-18.8%	1.56%	-10.5%
IVZ	Sell	INVESCO LTD	$9,060	-15.0%	624,000	-1.6%	1.55%	-9.9%
REYN	Buy	REYNOLDS CONSUMER PRODS INC	$8,637	-2.9%	337,000	+7.0%	1.48%	+2.9%
BAX	Buy	BAXTER INTL INC	$8,378	+2.7%	222,000	+24.0%	1.44%	+8.9%
GM	Buy	GENERAL MTRS CO	$8,341	-10.6%	253,000	+4.5%	1.43%	-5.2%
USB	Buy	US BANCORP DEL	$8,331	+5.1%	252,000	+5.0%	1.43%	+11.5%
DGX	Buy	QUEST DIAGNOSTICS INC	$8,286	-10.7%	68,000	+3.0%	1.42%	-5.3%
LHX	Buy	L3HARRIS TECHNOLOGIES INC	$8,184	+4.5%	47,000	+17.5%	1.40%	+10.8%
DAL	Buy	DELTA AIR LINES INC DEL	$8,177	-9.5%	221,000	+16.3%	1.40%	-4.0%
WRK	Sell	WESTROCK CO	$8,008	+0.9%	223,700	-18.1%	1.37%	+7.0%
DENN	Buy	DENNYS CORP	$7,928	-12.0%	936,000	+28.0%	1.36%	-6.7%
SLB	Sell	SCHLUMBERGER LTD	$7,871	-1.1%	135,000	-16.7%	1.35%	+4.9%
JLL	Buy	JONES LANG LASALLE INC	$7,765	+16.9%	55,000	+29.0%	1.33%	+24.0%
WFC	Sell	WELLS FARGO CO NEW	$7,763	-10.0%	190,000	-5.9%	1.33%	-4.5%
KFY	Buy	KORN FERRY	$7,685	+0.7%	162,000	+5.2%	1.32%	+6.8%
UPS	Buy	UNITED PARCEL SERVICE INCcl b	$7,482	-11.2%	48,000	+2.1%	1.28%	-5.9%
GS	Sell	GOLDMAN SACHS GROUP INC	$7,442	-1.8%	23,000	-2.1%	1.28%	+4.1%
CBRL	Buy	CRACKER BARREL OLD CTRY STOR	$7,325	+25.0%	109,000	+73.3%	1.26%	+32.5%
CMI	Sell	CUMMINS INC	$7,311	-23.5%	32,000	-17.9%	1.25%	-18.9%
GOOG	Sell	ALPHABET INCcap stk cl c	$7,252	-0.1%	55,000	-8.3%	1.24%	+6.0%
OMC	Buy	OMNICOM GROUP INC	$7,150	+21.2%	96,000	+54.8%	1.23%	+28.5%
GLW	Buy	CORNING INC	$7,130	-4.9%	234,000	+9.3%	1.22%	+0.8%
DE	Buy	DEERE & CO	$6,982	-1.5%	18,500	+5.7%	1.20%	+4.4%
BDX	Sell	BECTON DICKINSON & CO	$6,980	-11.9%	27,000	-10.0%	1.20%	-6.6%
TGT	Buy	TARGET CORP	$6,855	+26.8%	62,000	+51.2%	1.18%	+34.3%
LKQ	Buy	LKQ CORP	$6,832	+11.7%	138,000	+31.4%	1.17%	+18.5%
RTX	Buy	RAYTHEON TECHNOLOGIES CORP	$6,837	-4.4%	95,000	+30.1%	1.17%	+1.3%
UNH	Sell	UNITEDHEALTH GROUP INC	$6,807	-2.3%	13,500	-6.9%	1.17%	+3.5%
CBRE	Sell	CBRE GROUP INCcl a	$6,795	-16.6%	92,000	-8.9%	1.16%	-11.6%
WLTW	Buy	WILLIS TOWERS WATSON PLC LTD	$6,791	+20.2%	32,500	+35.4%	1.16%	+27.4%
TRV	Buy	TRAVELERS COMPANIES INC	$6,696	+28.5%	41,000	+36.7%	1.15%	+36.2%
CMCSA	Sell	COMCAST CORP NEWcl a	$6,651	-19.2%	150,000	-24.2%	1.14%	-14.4%
AXTA	Buy	AXALTA COATING SYS LTD	$6,644	+5.5%	247,000	+28.6%	1.14%	+11.8%
ZBH	Buy	ZIMMER BIOMET HOLDINGS INC	$6,397	-6.5%	57,000	+21.3%	1.10%	-0.9%
HOLX	Buy	HOLOGIC INC	$6,246	+45.6%	90,000	+69.8%	1.07%	+54.3%
LUV	Buy	SOUTHWEST AIRLS CO	$6,145	+31.6%	227,000	+76.0%	1.05%	+39.6%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$5,955	+58.8%	17,000	+54.5%	1.02%	+68.2%
EFX	Buy	EQUIFAX INC	$5,679	+27.0%	31,000	+63.2%	0.97%	+34.7%
FIS	Buy	FIDELITY NATL INFORMATION SV	$5,638	+22.0%	102,000	+20.7%	0.97%	+29.5%
PB	Buy	PROSPERITY BANCSHARES INC	$5,622	+5.9%	103,000	+9.6%	0.96%	+12.2%
KMB	Buy	KIMBERLY CLARK CORP	$5,559	+11.2%	46,000	+27.1%	0.95%	+17.9%
SWK	Buy	STANLEY BLACK & DECKER INC	$5,516	+78.4%	66,000	+100.0%	0.95%	+89.2%
WCC	Sell	WESCO INTL INC	$5,321	-32.9%	37,000	-16.5%	0.91%	-28.9%
V	Sell	VISA INC	$4,830	-17.0%	21,000	-14.3%	0.83%	-12.0%
FB	Sell	META PLATFORMS INCcl a	$4,653	-1.7%	15,500	-6.1%	0.80%	+4.2%
FDX	Sell	FEDEX CORP	$4,636	-16.9%	17,500	-22.2%	0.80%	-11.9%
WGO	Sell	WINNEBAGO INDS INC	$4,524	-29.8%	76,105	-21.2%	0.78%	-25.5%
CARR	Sell	CARRIER GLOBAL CORPORATION	$4,516	-49.5%	81,808	-54.6%	0.77%	-46.5%
DOV	Buy	DOVER CORP	$4,325	-2.4%	31,000	+3.3%	0.74%	+3.6%
INTC	Sell	INTEL CORP	$4,230	-23.3%	119,000	-27.9%	0.72%	-18.7%
EMN	Buy	EASTMAN CHEM CO	$4,220	+34.4%	55,000	+46.7%	0.72%	+42.5%
MA	Sell	MASTERCARD INCcl a	$3,959	-8.5%	10,000	-9.1%	0.68%	-3.0%
BLBD	Buy	BLUE BIRD CORP	$3,395	+3.4%	159,000	+8.9%	0.58%	+9.6%
MMC	Sell	MARSH & MCLENNAN COS INC	$3,045	-4.8%	16,000	-5.9%	0.52%	+1.0%
GTES	Buy	GATES INDUSTRIAL CORPRATIN P	$2,856	-3.7%	246,000	+11.8%	0.49%	+2.1%
SHYF	Buy	SHYFT GROUP INC	$2,844	+7.4%	190,000	+58.3%	0.49%	+14.0%
CENTA	Sell	CENTRAL GARDEN & PET COcl a non-vtg	$2,766	-10.7%	69,000	-18.8%	0.47%	-5.4%
IART	Buy	INTEGRA LIFESCIENCES HLDGS	$2,711	-4.5%	71,000	+2.9%	0.46%	+1.3%
JOUT	Buy	JOHNSON OUTDOORS INCcl a	$2,608	-1.3%	47,686	+10.9%	0.45%	+4.7%
PBH	Sell	PRESTIGE CONSMR HEALTHCARE	$2,459	-15.6%	43,000	-12.2%	0.42%	-10.4%
BRC	Sell	BRADY CORPcl a	$2,197	-2.1%	40,000	-15.3%	0.38%	+3.9%
FHB	Buy	FIRST HAWAIIAN INC	$2,040	+3.9%	113,000	+3.7%	0.35%	+10.4%
VSH	Buy	VISHAY INTERTECHNOLOGY INC	$1,879	-13.6%	76,000	+2.7%	0.32%	-8.5%
MLR	Sell	MILLER INDS INC TENN	$1,874	-16.2%	47,798	-24.1%	0.32%	-11.1%
HOMB	Sell	HOME BANCSHARES INC	$1,864	-10.2%	89,000	-2.2%	0.32%	-4.8%
CWK	Buy	CUSHMAN WAKEFIELD PLC	$1,798	+13.3%	236,000	+21.6%	0.31%	+19.8%
GHM	Sell	GRAHAM CORP	$1,746	+1.2%	105,151	-19.0%	0.30%	+7.2%
KTB	Sell	KONTOOR BRANDS INC	$1,449	-25.2%	33,000	-28.3%	0.25%	-20.8%
TKR	Buy	TIMKEN CO	$1,249	-12.0%	17,000	+9.7%	0.21%	-6.6%
WNC	Buy	WABASH NATL CORP	$1,204	-8.0%	57,000	+11.8%	0.21%	-2.8%
FA	New	FIRST ADVANTAGE	$276	–	20,000	–	0.05%	–
TPR	Exit	TAPESTRY INC	$0	–	-172,000	–	-1.19%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-77,500	–	-1.87%	–

Q2 2023

			Value		Shares		↓ Weighting
	New	WARNER BROS DISCOVERY INC	$13,283	–	1,059,250	–	2.15%	–
ST	New	SENSATA TECHNOLOGIES HLDNG P	$12,440	–	276,500	–	2.01%	–
GNRC	New	GENERAC HLDGS INC	$11,558	–	77,500	–	1.87%	–
DIS	New	DISNEY WALT CO	$11,517	–	129,000	–	1.86%	–
ABM	New	ABM INDS INC	$11,345	–	266,000	–	1.84%	–
CSCO	New	CISCO SYS INC	$10,762	–	208,000	–	1.74%	–
IVZ	New	INVESCO LTD	$10,658	–	634,000	–	1.72%	–
KLIC	New	KULICKE & SOFFA INDS INC	$10,166	–	171,000	–	1.64%	–
JNJ	New	JOHNSON & JOHNSON	$9,931	–	60,000	–	1.61%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRANCE	$9,790	–	123,000	–	1.58%	–
SSNC	New	SS&C TECHNOLOGIES HLDGS INC	$9,575	–	158,000	–	1.55%	–
CMI	New	CUMMINS INC	$9,561	–	39,000	–	1.55%	–
CVS	New	CVS HEALTH CORP	$9,540	–	138,000	–	1.54%	–
GM	New	GENERAL MTRS CO	$9,332	–	242,000	–	1.51%	–
DGX	New	QUEST DIAGNOSTICS INC	$9,277	–	66,000	–	1.50%	–
DAL	New	DELTA AIR LINES INC DEL	$9,033	–	190,000	–	1.46%	–
DENN	New	DENNYS CORP	$9,006	–	731,000	–	1.46%	–
CARR	New	CARRIER GLOBAL CORPORATION	$8,948	–	180,000	–	1.45%	–
REYN	New	REYNOLDS CONSUMER PRODS INC	$8,899	–	315,000	–	1.44%	–
EBAY	New	EBAY INC	$8,849	–	198,000	–	1.43%	–
MDT	New	MEDTRONIC PLC	$8,810	–	100,000	–	1.42%	–
CFG	New	CITIZENS FINL GROUP INC	$8,789	–	337,000	–	1.42%	–
WFC	New	WELLS FARGO CO NEW	$8,621	–	202,000	–	1.39%	–
CTVA	New	CORTEVA INC	$8,595	–	150,000	–	1.39%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$8,425	–	47,000	–	1.36%	–
MHK	New	MOHAWK INDS INC	$8,356	–	81,000	–	1.35%	–
CMCSA	New	COMCAST CORP NEWcl a	$8,227	–	198,000	–	1.33%	–
BAX	New	BAXTER INTL INC	$8,155	–	179,000	–	1.32%	–
CBRE	New	CBRE GROUP INCcl a	$8,152	–	101,000	–	1.32%	–
DIN	New	DINE BRANDS GLOBAL INC	$8,066	–	139,000	–	1.30%	–
SLB	New	SCHLUMBERGER LTD	$7,957	–	162,000	–	1.29%	–
WCC	New	WESCO INTL INC	$7,932	–	44,300	–	1.28%	–
WRK	New	WESTROCK CO	$7,936	–	273,000	–	1.28%	–
USB	New	US BANCORP DEL	$7,930	–	240,000	–	1.28%	–
BDX	New	BECTON DICKINSON & CO	$7,920	–	30,000	–	1.28%	–
LHX	New	L3HARRIS TECHNOLOGIES INC	$7,831	–	40,000	–	1.27%	–
FITB	New	FIFTH THIRD BANCORP	$7,784	–	297,000	–	1.26%	–
KFY	New	KORN FERRY	$7,629	–	154,000	–	1.23%	–
GS	New	GOLDMAN SACHS GROUP INC	$7,580	–	23,500	–	1.23%	–
GLW	New	CORNING INC	$7,499	–	214,000	–	1.21%	–
TPR	New	TAPESTRY INC	$7,362	–	172,000	–	1.19%	–
GOOG	New	ALPHABET INCcap stk cl c	$7,258	–	60,000	–	1.17%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$7,151	–	73,000	–	1.16%	–
DE	New	DEERE & CO	$7,091	–	17,500	–	1.15%	–
UNH	New	UNITEDHEALTH GROUP INC	$6,969	–	14,500	–	1.13%	–
ZBH	New	ZIMMER BIOMET HOLDINGS INC	$6,843	–	47,000	–	1.11%	–
AXP	New	AMERICAN EXPRESS CO	$6,794	–	39,000	–	1.10%	–
JLL	New	JONES LANG LASALLE INC	$6,643	–	42,640	–	1.07%	–
WGO	New	WINNEBAGO INDS INC	$6,444	–	96,622	–	1.04%	–
AXTA	New	AXALTA COATING SYS LTD	$6,300	–	192,000	–	1.02%	–
AVTR	New	AVANTOR INC	$6,285	–	306,000	–	1.02%	–
LKQ	New	LKQ CORP	$6,118	–	105,000	–	0.99%	–
OMC	New	OMNICOM GROUP INC	$5,899	–	62,000	–	0.95%	–
CBRL	New	CRACKER BARREL OLD CTRY STOR	$5,861	–	62,901	–	0.95%	–
V	New	VISA INC	$5,818	–	24,500	–	0.94%	–
WLTW	New	WILLIS TOWERS WATSON PLC LTD	$5,652	–	24,000	–	0.91%	–
FDX	New	FEDEX CORP	$5,578	–	22,500	–	0.90%	–
INTC	New	INTEL CORP	$5,518	–	165,000	–	0.89%	–
TGT	New	TARGET CORP	$5,408	–	41,000	–	0.88%	–
PB	New	PROSPERITY BANCSHARES INC	$5,309	–	94,000	–	0.86%	–
TRV	New	TRAVELERS COMPANIES INC	$5,210	–	30,000	–	0.84%	–
KMB	New	KIMBERLY CLARK CORP	$4,998	–	36,200	–	0.81%	–
TXN	New	TEXAS INSTRS INC	$4,771	–	26,500	–	0.77%	–
FB	New	META PLATFORMS INCcl a	$4,735	–	16,500	–	0.77%	–
LUV	New	SOUTHWEST AIRLS CO	$4,671	–	129,000	–	0.76%	–
FIS	New	FIDELITY NATL INFORMATION SV	$4,622	–	84,500	–	0.75%	–
EFX	New	EQUIFAX INC	$4,471	–	19,000	–	0.72%	–
DOV	New	DOVER CORP	$4,430	–	30,000	–	0.72%	–
MSFT	New	MICROSOFT CORP	$4,427	–	13,000	–	0.72%	–
MA	New	MASTERCARD INCcl a	$4,326	–	11,000	–	0.70%	–
HOLX	New	HOLOGIC INC	$4,291	–	53,000	–	0.69%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$3,751	–	11,000	–	0.61%	–
FTV	New	FORTIVE CORP	$3,668	–	49,059	–	0.59%	–
SPGI	New	S&P GLOBAL INC	$3,408	–	8,500	–	0.55%	–
HRL	New	HORMEL FOODS CORP	$3,378	–	84,000	–	0.55%	–
UHS	New	UNIVERSAL HLTH SVCS INCcl b	$3,313	–	21,000	–	0.54%	–
AAPL	New	APPLE INC	$3,297	–	17,000	–	0.53%	–
BLBD	New	BLUE BIRD CORP	$3,282	–	146,000	–	0.53%	–
MMC	New	MARSH & MCLENNAN COS INC	$3,197	–	17,000	–	0.52%	–
EMN	New	EASTMAN CHEM CO	$3,140	–	37,500	–	0.51%	–
MCO	New	MOODYS CORP	$3,129	–	9,000	–	0.51%	–
CENTA	New	CENTRAL GARDEN & PET COcl a non-vtg	$3,099	–	85,000	–	0.50%	–
SWK	New	STANLEY BLACK & DECKER INC	$3,092	–	33,000	–	0.50%	–
MCD	New	MCDONALDS CORP	$2,984	–	10,000	–	0.48%	–
GTES	New	GATES INDUSTRIAL CORPRATIN P	$2,966	–	220,000	–	0.48%	–
PBH	New	PRESTIGE CONSMR HEALTHCARE	$2,912	–	49,000	–	0.47%	–
IART	New	INTEGRA LIFESCIENCES HLDGS	$2,838	–	69,000	–	0.46%	–
SHYF	New	SHYFT GROUP INC	$2,647	–	120,000	–	0.43%	–
JOUT	New	JOHNSON OUTDOORS INCcl a	$2,642	–	43,000	–	0.43%	–
BRC	New	BRADY CORPcl a	$2,245	–	47,200	–	0.36%	–
MLR	New	MILLER INDS INC TENN	$2,235	–	63,000	–	0.36%	–
VSH	New	VISHAY INTERTECHNOLOGY INC	$2,176	–	74,000	–	0.35%	–
HOMB	New	HOME BANCSHARES INC	$2,075	–	91,000	–	0.34%	–
FHB	New	FIRST HAWAIIAN INC	$1,963	–	109,000	–	0.32%	–
KTB	New	KONTOOR BRANDS INC	$1,937	–	46,000	–	0.31%	–
GHM	New	GRAHAM CORP	$1,725	–	129,860	–	0.28%	–
CWK	New	CUSHMAN WAKEFIELD PLC	$1,587	–	194,000	–	0.26%	–
TKR	New	TIMKEN CO	$1,419	–	15,500	–	0.23%	–
WNC	New	WABASH NATL CORP	$1,308	–	51,000	–	0.21%	–

Q4 2022

			Value		Shares		↓ Weighting
LCUT	Exit	LIFETIME BRANDS INC	$0	–	-144,528	–	-0.16%	–
FSS	Exit	FEDERAL SIGNAL CORP	$0	–	-34,000	–	-0.21%	–
FHB	Exit	FIRST HAWAIIAN INC	$0	–	-54,000	–	-0.22%	–
GHM	Exit	GRAHAM CORP	$0	–	-161,000	–	-0.24%	–
TKR	Exit	TIMKEN CO	$0	–	-24,000	–	-0.24%	–
BLBD	Exit	BLUE BIRD CORP	$0	–	-199,000	–	-0.28%	–
MLR	Exit	MILLER INDS INC TENN	$0	–	-79,000	–	-0.28%	–
JOUT	Exit	JOHNSON OUTDOORS INCcl a	$0	–	-33,000	–	-0.28%	–
IART	Exit	INTEGRA LIFESCIENCES HLDGS	$0	–	-46,000	–	-0.33%	–
KTB	Exit	KONTOOR BRANDS INC	$0	–	-58,000	–	-0.33%	–
KDP	Exit	KEURIG DR PEPPER INC	$0	–	-55,000	–	-0.33%	–
GTES	Exit	GATES INDUSTRIAL CORPRATIN P	$0	–	-205,000	–	-0.34%	–
WNC	Exit	WABASH NATL CORP	$0	–	-140,000	–	-0.36%	–
HOMB	Exit	HOME BANCSHARES INC	$0	–	-99,000	–	-0.37%	–
BRC	Exit	BRADY CORPcl a	$0	–	-56,000	–	-0.39%	–
SHYF	Exit	SHYFT GROUP INC	$0	–	-116,000	–	-0.40%	–
MMC	Exit	MARSH & MCLENNAN COS INC	$0	–	-17,000	–	-0.42%	–
VSH	Exit	VISHAY INTERTECHNOLOGY INC	$0	–	-145,000	–	-0.43%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-8,500	–	-0.44%	–
PBH	Exit	PRESTIGE CONSMR HEALTHCARE	$0	–	-55,000	–	-0.46%	–
CENTA	Exit	CENTRAL GARDEN & PET COcl a non-vtg	$0	–	-81,000	–	-0.46%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-11,000	–	-0.49%	–
HRL	Exit	HORMEL FOODS CORP	$0	–	-67,000	–	-0.51%	–
FTV	Exit	FORTIVE CORP	$0	–	-54,059	–	-0.53%	–
MCD	Exit	MCDONALDS CORP	$0	–	-15,000	–	-0.58%	–
MCO	Exit	MOODYS CORP	$0	–	-17,000	–	-0.69%	–
TRV	Exit	TRAVELERS COMPANIES INC	$0	–	-27,000	–	-0.69%	–
LHX	Exit	L3HARRIS TECHNOLOGIES INC	$0	–	-20,000	–	-0.70%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-27,000	–	-0.70%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-8,700	–	-0.74%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-17,000	–	-0.81%	–
CWK	Exit	CUSHMAN WAKEFIELD PLC	$0	–	-429,000	–	-0.82%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-140,000	–	-0.84%	–
LUV	Exit	SOUTHWEST AIRLS CO	$0	–	-172,000	–	-0.89%	–
EMN	Exit	EASTMAN CHEM CO	$0	–	-75,000	–	-0.89%	–
UHS	Exit	UNIVERSAL HLTH SVCS INCcl b	$0	–	-63,000	–	-0.93%	–
FITB	Exit	FIFTH THIRD BANCORP	$0	–	-182,000	–	-0.98%	–
V	Exit	VISA INC	$0	–	-33,000	–	-0.98%	–
SMG	Exit	SCOTTS MIRACLE-GRO COcl a	$0	–	-137,000	–	-0.98%	–
HOLX	Exit	HOLOGIC INC	$0	–	-92,000	–	-1.00%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-44,000	–	-1.00%	–
SWK	Exit	STANLEY BLACK & DECKER INC	$0	–	-79,000	–	-1.00%	–
LKQ	Exit	LKQ CORP	$0	–	-126,000	–	-1.00%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-77,000	–	-1.04%	–
EBAY	Exit	EBAY INC	$0	–	-173,000	–	-1.07%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-218,000	–	-1.07%	–
CBRE	Exit	CBRE GROUP INCcl a	$0	–	-95,000	–	-1.08%	–
ORCL	Exit	ORACLE CORP	$0	–	-106,000	–	-1.08%	–
FB	Exit	META PLATFORMS INCcl a	$0	–	-48,000	–	-1.09%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-58,000	–	-1.09%	–
PB	Exit	PROSPERITY BANCSHARES INC	$0	–	-97,889	–	-1.09%	–
USB	Exit	US BANCORP DEL	$0	–	-163,000	–	-1.10%	–
AAPL	Exit	APPLE INC	$0	–	-48,500	–	-1.12%	–
GM	Exit	GENERAL MTRS CO	$0	–	-212,000	–	-1.14%	–
AXTA	Exit	AXALTA COATING SYS LTD	$0	–	-325,450	–	-1.15%	–
EFX	Exit	EQUIFAX INC	$0	–	-40,000	–	-1.15%	–
TPR	Exit	TAPESTRY INC	$0	–	-242,000	–	-1.15%	–
BKNG	Exit	BOOKING HLDGS INC	$0	–	-4,200	–	-1.16%	–
CARR	Exit	CARRIER GLOBAL CORPORATION	$0	–	-195,000	–	-1.16%	–
FDX	Exit	FEDEX CORP	$0	–	-47,000	–	-1.17%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-30,000	–	-1.17%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-177,000	–	-1.19%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-87,000	–	-1.19%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-76,000	–	-1.22%	–
CBRL	Exit	CRACKER BARREL OLD CTRY STOR	$0	–	-79,000	–	-1.23%	–
DENN	Exit	DENNYS CORP	$0	–	-784,170	–	-1.24%	–
WGO	Exit	WINNEBAGO INDS INC	$0	–	-139,287	–	-1.24%	–
WLTW	Exit	WILLIS TOWERS WATSON PLC LTD	$0	–	-37,000	–	-1.25%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-100,500	–	-1.27%	–
CTVA	Exit	CORTEVA INC	$0	–	-134,000	–	-1.28%	–
CFG	Exit	CITIZENS FINL GROUP INC	$0	–	-225,000	–	-1.30%	–
DAL	Exit	DELTA AIR LINES INC DEL	$0	–	-276,000	–	-1.30%	–
INTC	Exit	INTEL CORP	$0	–	-301,000	–	-1.30%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-124,000	–	-1.31%	–
WRK	Exit	WESTROCK CO	$0	–	-255,050	–	-1.32%	–
ABM	Exit	ABM INDS INC	$0	–	-208,000	–	-1.33%	–
CMI	Exit	CUMMINS INC	$0	–	-39,300	–	-1.34%	–
DIS	Exit	DISNEY WALT CO	$0	–	-85,000	–	-1.34%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-27,500	–	-1.35%	–
SSNC	Exit	SS&C TECHNOLOGIES HLDGS INC	$0	–	-169,000	–	-1.35%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-50,000	–	-1.35%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-37,000	–	-1.38%	–
DGX	Exit	QUEST DIAGNOSTICS INC	$0	–	-67,400	–	-1.39%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE INC	$0	–	-266,000	–	-1.40%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-93,000	–	-1.42%	–
JLL	Exit	JONES LANG LASALLE INC	$0	–	-56,500	–	-1.43%	–
GLW	Exit	CORNING INC	$0	–	-294,000	–	-1.43%	–
REYN	Exit	REYNOLDS CONSUMER PRODS INC	$0	–	-336,750	–	-1.47%	–
BAX	Exit	BAXTER INTL INC	$0	–	-167,000	–	-1.51%	–
KLIC	Exit	KULICKE & SOFFA INDS INC	$0	–	-238,400	–	-1.54%	–
ZBH	Exit	ZIMMER BIOMET HOLDINGS INC	$0	–	-88,500	–	-1.55%	–
IVZ	Exit	INVESCO LTD	$0	–	-677,200	–	-1.56%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-58,000	–	-1.59%	–
DIN	Exit	DINE BRANDS GLOBAL INC	$0	–	-151,000	–	-1.61%	–
WCC	Exit	WESCO INTL INC	$0	–	-81,000	–	-1.62%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-54,750	–	-1.64%	–
CSCO	Exit	CISCO SYS INC	$0	–	-249,000	–	-1.67%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-104,000	–	-1.68%	–
ST	Exit	SENSATA TECHNOLOGIES HLDNG P	$0	–	-280,000	–	-1.75%	–
	Exit	WARNER BROS DISCOVERY INC	$0	–	-963,700	–	-1.86%	–

Q3 2022

			Value		Shares		↓ Weighting
	Buy	WARNER BROS DISCOVERY INC	$11,083,000	+10.3%	963,700	+28.7%	1.86%	+23.4%
ST	Buy	SENSATA TECHNOLOGIES HLDNG P	$10,438,000	+1.1%	280,000	+12.0%	1.75%	+13.0%
GOOG	Buy	ALPHABET INCcap stk cl c	$10,000,000	-15.3%	104,000	+1825.9%	1.68%	-5.3%
CSCO	Buy	CISCO SYS INC	$9,960,000	-5.0%	249,000	+1.2%	1.67%	+6.2%
GNRC	Buy	GENERAC HLDGS INC	$9,753,000	-0.2%	54,750	+18.0%	1.64%	+11.7%
WCC	Sell	WESCO INTL INC	$9,670,000	-6.3%	81,000	-16.0%	1.62%	+4.8%
DIN	Sell	DINE BRANDS GLOBAL INC	$9,598,000	-4.2%	151,000	-1.9%	1.61%	+7.1%
JNJ	Sell	JOHNSON & JOHNSON	$9,475,000	-12.5%	58,000	-4.9%	1.59%	-2.2%
ZBH	Sell	ZIMMER BIOMET HOLDINGS INC	$9,253,000	-57.4%	88,500	-52.2%	1.55%	-52.4%
KLIC	Buy	KULICKE & SOFFA INDS INC	$9,186,000	+8.4%	238,400	+20.4%	1.54%	+21.3%
BAX	Buy	BAXTER INTL INC	$8,995,000	+0.0%	167,000	+19.3%	1.51%	+12.0%
REYN	Sell	REYNOLDS CONSUMER PRODS INC	$8,759,000	-5.4%	336,750	-0.8%	1.47%	+5.8%
JLL	Buy	JONES LANG LASALLE INC	$8,535,000	-12.8%	56,500	+0.9%	1.43%	-2.5%
MHK	Buy	MOHAWK INDS INC	$8,481,000	-11.5%	93,000	+20.5%	1.42%	-1.0%
WBA	Buy	WALGREENS BOOTS ALLIANCE INC	$8,352,000	-1.2%	266,000	+19.3%	1.40%	+10.5%
BDX	Sell	BECTON DICKINSON & CO	$8,245,000	-12.0%	37,000	-2.6%	1.38%	-1.6%
UPS	Sell	UNITED PARCEL SERVICE INCcl b	$8,077,000	-14.9%	50,000	-3.8%	1.35%	-4.8%
SSNC	Buy	SS&C TECHNOLOGIES HLDGS INC	$8,070,000	-13.1%	169,000	+5.6%	1.35%	-2.8%
DIS	Buy	DISNEY WALT CO	$8,018,000	+13.2%	85,000	+13.3%	1.34%	+26.7%
ABM	Buy	ABM INDS INC	$7,952,000	+11.1%	208,000	+26.2%	1.33%	+24.2%
WRK	Sell	WESTROCK CO	$7,878,000	-64.0%	255,050	-49.1%	1.32%	-59.8%
INTC	Buy	INTEL CORP	$7,757,000	-4.9%	301,000	+38.1%	1.30%	+6.4%
DAL	Buy	DELTA AIR LINES INC DEL	$7,745,000	+10.5%	276,000	+14.0%	1.30%	+23.5%
CFG	Buy	CITIZENS FINL GROUP INC	$7,731,000	+13.5%	225,000	+17.9%	1.30%	+27.1%
CTVA	Sell	CORTEVA INC	$7,658,000	-9.9%	134,000	-14.6%	1.28%	+0.8%
FIS	Buy	FIDELITY NATL INFORMATION SV	$7,595,000	-11.6%	100,500	+7.3%	1.27%	-1.1%
DENN	Buy	DENNYS CORP	$7,379,000	+9.0%	784,170	+0.5%	1.24%	+21.9%
CBRL	Sell	CRACKER BARREL OLD CTRY STOR	$7,314,000	-6.8%	79,000	-16.0%	1.23%	+4.3%
RTX	Buy	RAYTHEON TECHNOLOGIES CORP	$7,122,000	-9.6%	87,000	+6.1%	1.19%	+1.1%
MSFT	Buy	MICROSOFT CORP	$6,987,000	+23.7%	30,000	+36.4%	1.17%	+38.3%
FDX	Buy	FEDEX CORP	$6,978,000	-28.4%	47,000	+9.3%	1.17%	-19.9%
CARR	Buy	CARRIER GLOBAL CORPORATION	$6,934,000	+1.3%	195,000	+1.6%	1.16%	+13.3%
BKNG	Buy	BOOKING HLDGS INC	$6,901,000	+3.8%	4,200	+10.5%	1.16%	+16.2%
EFX	Sell	EQUIFAX INC	$6,857,000	-16.6%	40,000	-11.1%	1.15%	-6.7%
AXTA	Buy	AXALTA COATING SYS LTD	$6,854,000	-2.0%	325,450	+2.8%	1.15%	+9.6%
GM	Buy	GENERAL MTRS CO	$6,803,000	+4.0%	212,000	+2.9%	1.14%	+16.3%
AAPL	Buy	APPLE INC	$6,703,000	+2.1%	48,500	+1.0%	1.12%	+14.2%
USB	Buy	US BANCORP DEL	$6,572,000	-10.7%	163,000	+1.9%	1.10%	-0.2%
PB	Sell	PROSPERITY BANCSHARES INC	$6,527,000	-3.3%	97,889	-1.0%	1.09%	+8.1%
FB	Buy	META PLATFORMS INCcl a	$6,513,000	-3.8%	48,000	+14.3%	1.09%	+7.6%
ORCL	Buy	ORACLE CORP	$6,473,000	-2.5%	106,000	+11.6%	1.08%	+9.0%
CBRE	Buy	CBRE GROUP INCcl a	$6,413,000	-1.0%	95,000	+8.0%	1.08%	+10.7%
CMCSA	Buy	COMCAST CORP NEWcl a	$6,394,000	-16.4%	218,000	+11.8%	1.07%	-6.5%
EBAY	Buy	EBAY INC	$6,368,000	+2.6%	173,000	+16.1%	1.07%	+14.7%
SWK	Buy	STANLEY BLACK & DECKER INC	$5,942,000	-2.3%	79,000	+36.2%	1.00%	+9.3%
LKQ	Sell	LKQ CORP	$5,941,000	-23.8%	126,000	-20.7%	1.00%	-14.7%
SMG	Buy	SCOTTS MIRACLE-GRO COcl a	$5,857,000	+25.7%	137,000	+132.2%	0.98%	+40.7%
FITB	Buy	FIFTH THIRD BANCORP	$5,817,000	+18.6%	182,000	+24.7%	0.98%	+32.7%
UHS	Buy	UNIVERSAL HLTH SVCS INCcl b	$5,555,000	+2.2%	63,000	+16.7%	0.93%	+14.2%
EMN	Buy	EASTMAN CHEM CO	$5,329,000	-16.4%	75,000	+5.6%	0.89%	-6.5%
LUV	Buy	SOUTHWEST AIRLS CO	$5,304,000	+5.6%	172,000	+23.7%	0.89%	+18.2%
SLB	Buy	SCHLUMBERGER LTD	$5,026,000	+87.4%	140,000	+86.7%	0.84%	+109.5%
CWK	Buy	CUSHMAN WAKEFIELD PLC	$4,912,000	-16.7%	429,000	+10.8%	0.82%	-6.9%
MA	Buy	MASTERCARD INCcl a	$4,834,000	+5.7%	17,000	+17.2%	0.81%	+18.2%
UNH	Sell	UNITEDHEALTH GROUP INC	$4,394,000	-14.4%	8,700	-13.0%	0.74%	-4.4%
TXN	Sell	TEXAS INSTRS INC	$4,179,000	-10.8%	27,000	-11.5%	0.70%	-0.3%
MCO	Sell	MOODYS CORP	$4,133,000	-35.3%	17,000	-27.7%	0.69%	-27.7%
FTV	Sell	FORTIVE CORP	$3,152,000	-16.1%	54,059	-21.7%	0.53%	-6.2%
HRL	Sell	HORMEL FOODS CORP	$3,044,000	-15.7%	67,000	-12.1%	0.51%	-5.7%
CENTA	Buy	CENTRAL GARDEN & PET COcl a non-vtg	$2,767,000	-13.6%	81,000	+1.2%	0.46%	-3.3%
PBH	Sell	PRESTIGE CONSMR HEALTHCARE	$2,741,000	-23.6%	55,000	-9.8%	0.46%	-14.7%
SPGI	Sell	S&P GLOBAL INC	$2,595,000	-23.0%	8,500	-15.0%	0.44%	-13.9%
VSH	Sell	VISHAY INTERTECHNOLOGY INC	$2,580,000	-9.5%	145,000	-9.4%	0.43%	+1.2%
MMC	Buy	MARSH & MCLENNAN COS INC	$2,538,000	+2.2%	17,000	+6.2%	0.42%	+14.2%
SHYF	Buy	SHYFT GROUP INC	$2,370,000	+10.9%	116,000	+0.9%	0.40%	+24.1%
BRC	Sell	BRADY CORPcl a	$2,337,000	-13.2%	56,000	-1.8%	0.39%	-3.0%
HOMB	Sell	HOME BANCSHARES INC	$2,228,000	-13.5%	99,000	-20.2%	0.37%	-3.4%
WNC	Sell	WABASH NATL CORP	$2,178,000	-2.8%	140,000	-15.2%	0.36%	+8.6%
GTES	Buy	GATES INDUSTRIAL CORPRATIN P	$2,001,000	-7.4%	205,000	+2.5%	0.34%	+3.4%
KDP	Sell	KEURIG DR PEPPER INC	$1,970,000	-33.7%	55,000	-34.5%	0.33%	-25.8%
KTB	Buy	KONTOOR BRANDS INC	$1,949,000	+2.5%	58,000	+1.8%	0.33%	+14.7%
IART	Buy	INTEGRA LIFESCIENCES HLDGS	$1,949,000	-19.8%	46,000	+2.2%	0.33%	-10.2%
JOUT	Buy	JOHNSON OUTDOORS INCcl a	$1,693,000	-12.1%	33,000	+4.8%	0.28%	-1.7%
MLR	Buy	MILLER INDS INC TENN	$1,682,000	+4.5%	79,000	+11.3%	0.28%	+17.0%
BLBD	Sell	BLUE BIRD CORP	$1,662,000	-11.1%	199,000	-2.0%	0.28%	-0.4%
FSS	Sell	FEDERAL SIGNAL CORP	$1,269,000	-22.1%	34,000	-25.8%	0.21%	-12.7%
LCUT	Sell	LIFETIME BRANDS INC	$978,000	-43.5%	144,528	-7.8%	0.16%	-36.7%
BIG	Exit	BIG LOTS INC	$0	–	-49,000	–	-0.15%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-16,000	–	-0.50%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-105,000	–	-0.70%	–
VIAC	Exit	PARAMOUNT GLOBALcl b	$0	–	-216,000	–	-0.80%	–

Q2 2022

			Value		Shares		↓ Weighting
WRK	New	WESTROCK CO	$21,908,000	–	501,000	–	3.28%	–
ZBH	New	ZIMMER BIOMET HOLDINGS INC	$21,720,000	–	185,000	–	3.26%	–
GOOG	New	ALPHABET INCcap stk cl c	$11,812,000	–	5,400	–	1.77%	–
IVZ	New	INVESCO LTD	$10,923,000	–	677,200	–	1.64%	–
JNJ	New	JOHNSON & JOHNSON	$10,828,000	–	61,000	–	1.62%	–
CSCO	New	CISCO SYS INC	$10,489,000	–	246,000	–	1.57%	–
ST	New	SENSATA TECHNOLOGIES HLDNG P	$10,328,000	–	250,000	–	1.55%	–
WCC	New	WESCO INTL INC	$10,324,000	–	96,400	–	1.55%	–
	New	WARNER BROS DISCOVERY INC	$10,052,000	–	749,000	–	1.51%	–
DIN	New	DINE BRANDS GLOBAL INC	$10,022,000	–	154,000	–	1.50%	–
JLL	New	JONES LANG LASALLE INC	$9,792,000	–	56,000	–	1.47%	–
GNRC	New	GENERAC HLDGS INC	$9,773,000	–	46,410	–	1.46%	–
FDX	New	FEDEX CORP	$9,749,000	–	43,000	–	1.46%	–
MHK	New	MOHAWK INDS INC	$9,580,000	–	77,206	–	1.44%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$9,492,000	–	52,000	–	1.42%	–
BDX	New	BECTON DICKINSON & CO	$9,368,000	–	38,000	–	1.40%	–
SSNC	New	SS&C TECHNOLOGIES HLDGS INC	$9,291,000	–	160,000	–	1.39%	–
REYN	New	REYNOLDS CONSUMER PRODS INC	$9,260,000	–	339,550	–	1.39%	–
GLW	New	CORNING INC	$9,264,000	–	294,000	–	1.39%	–
BAX	New	BAXTER INTL INC	$8,992,000	–	140,000	–	1.35%	–
DGX	New	QUEST DIAGNOSTICS INC	$8,963,000	–	67,400	–	1.34%	–
FIS	New	FIDELITY NATL INFORMATION SV	$8,589,000	–	93,700	–	1.29%	–
CTVA	New	CORTEVA INC	$8,500,000	–	157,000	–	1.27%	–
KLIC	New	KULICKE & SOFFA INDS INC	$8,476,000	–	198,000	–	1.27%	–
WBA	New	WALGREENS BOOTS ALLIANCE INC	$8,452,000	–	223,000	–	1.27%	–
EFX	New	EQUIFAX INC	$8,225,000	–	45,000	–	1.23%	–
GS	New	GOLDMAN SACHS GROUP INC	$8,168,000	–	27,500	–	1.22%	–
INTC	New	INTEL CORP	$8,155,000	–	218,000	–	1.22%	–
OMC	New	OMNICOM GROUP INC	$7,888,000	–	124,000	–	1.18%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$7,881,000	–	82,000	–	1.18%	–
CBRL	New	CRACKER BARREL OLD CTRY STOR	$7,848,000	–	94,000	–	1.18%	–
KMB	New	KIMBERLY CLARK CORP	$7,839,000	–	58,000	–	1.18%	–
LKQ	New	LKQ CORP	$7,795,000	–	158,800	–	1.17%	–
CMCSA	New	COMCAST CORP NEWcl a	$7,652,000	–	195,000	–	1.15%	–
CMI	New	CUMMINS INC	$7,606,000	–	39,300	–	1.14%	–
TPR	New	TAPESTRY INC	$7,386,000	–	242,000	–	1.11%	–
USB	New	US BANCORP DEL	$7,363,000	–	160,000	–	1.10%	–
WLTW	New	WILLIS TOWERS WATSON PLC LTD	$7,303,000	–	37,000	–	1.09%	–
ABM	New	ABM INDS INC	$7,158,000	–	164,853	–	1.07%	–
DIS	New	DISNEY WALT CO	$7,080,000	–	75,000	–	1.06%	–
CVS	New	CVS HEALTH CORP	$7,042,000	–	76,000	–	1.06%	–
DAL	New	DELTA AIR LINES INC DEL	$7,011,000	–	242,000	–	1.05%	–
AXTA	New	AXALTA COATING SYS LTD	$6,997,000	–	316,450	–	1.05%	–
WFC	New	WELLS FARGO CO NEW	$6,933,000	–	177,000	–	1.04%	–
MDT	New	MEDTRONIC PLC	$6,911,000	–	77,000	–	1.04%	–
CARR	New	CARRIER GLOBAL CORPORATION	$6,847,000	–	192,000	–	1.03%	–
CFG	New	CITIZENS FINL GROUP INC	$6,810,000	–	190,800	–	1.02%	–
DENN	New	DENNYS CORP	$6,772,000	–	780,170	–	1.02%	–
FB	New	META PLATFORMS INCcl a	$6,773,000	–	42,000	–	1.02%	–
WGO	New	WINNEBAGO INDS INC	$6,764,000	–	139,287	–	1.01%	–
PB	New	PROSPERITY BANCSHARES INC	$6,751,000	–	98,889	–	1.01%	–
BKNG	New	BOOKING HLDGS INC	$6,646,000	–	3,800	–	1.00%	–
ORCL	New	ORACLE CORP	$6,638,000	–	95,000	–	1.00%	–
AAPL	New	APPLE INC	$6,563,000	–	48,000	–	0.98%	–
GM	New	GENERAL MTRS CO	$6,543,000	–	206,000	–	0.98%	–
V	New	VISA INC	$6,497,000	–	33,000	–	0.97%	–
CBRE	New	CBRE GROUP INCcl a	$6,478,000	–	88,000	–	0.97%	–
MCO	New	MOODYS CORP	$6,391,000	–	23,500	–	0.96%	–
EMN	New	EASTMAN CHEM CO	$6,374,000	–	71,000	–	0.96%	–
HOLX	New	HOLOGIC INC	$6,376,000	–	92,000	–	0.96%	–
EBAY	New	EBAY INC	$6,209,000	–	149,000	–	0.93%	–
AXP	New	AMERICAN EXPRESS CO	$6,099,000	–	44,000	–	0.91%	–
SWK	New	STANLEY BLACK & DECKER INC	$6,082,000	–	58,000	–	0.91%	–
CWK	New	CUSHMAN WAKEFIELD PLC	$5,899,000	–	387,050	–	0.88%	–
MSFT	New	MICROSOFT CORP	$5,650,000	–	22,000	–	0.85%	–
UHS	New	UNIVERSAL HLTH SVCS INCcl b	$5,438,000	–	54,000	–	0.82%	–
VIAC	New	PARAMOUNT GLOBALcl b	$5,331,000	–	216,000	–	0.80%	–
UNH	New	UNITEDHEALTH GROUP INC	$5,136,000	–	10,000	–	0.77%	–
LUV	New	SOUTHWEST AIRLS CO	$5,021,000	–	139,000	–	0.75%	–
FITB	New	FIFTH THIRD BANCORP	$4,906,000	–	146,000	–	0.74%	–
LHX	New	L3HARRIS TECHNOLOGIES INC	$4,834,000	–	20,000	–	0.72%	–
WDC	New	WESTERN DIGITAL CORP	$4,707,000	–	105,000	–	0.70%	–
TXN	New	TEXAS INSTRS INC	$4,686,000	–	30,500	–	0.70%	–
SMG	New	SCOTTS MIRACLE-GRO COcl a	$4,660,000	–	59,000	–	0.70%	–
MA	New	MASTERCARD INCcl a	$4,574,000	–	14,500	–	0.68%	–
TRV	New	TRAVELERS COMPANIES INC	$4,567,000	–	27,000	–	0.68%	–
FTV	New	FORTIVE CORP	$3,755,000	–	69,059	–	0.56%	–
MCD	New	MCDONALDS CORP	$3,703,000	–	15,000	–	0.56%	–
HRL	New	HORMEL FOODS CORP	$3,612,000	–	76,266	–	0.54%	–
PBH	New	PRESTIGE CONSMR HEALTHCARE	$3,587,000	–	61,000	–	0.54%	–
SPGI	New	S&P GLOBAL INC	$3,371,000	–	10,000	–	0.50%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$3,361,000	–	16,000	–	0.50%	–
CENTA	New	CENTRAL GARDEN & PET COcl a non-vtg	$3,201,000	–	80,000	–	0.48%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$3,003,000	–	11,000	–	0.45%	–
KDP	New	KEURIG DR PEPPER INC	$2,973,000	–	84,000	–	0.44%	–
VSH	New	VISHAY INTERTECHNOLOGY INC	$2,851,000	–	160,000	–	0.43%	–
BRC	New	BRADY CORPcl a	$2,693,000	–	57,000	–	0.40%	–
SLB	New	SCHLUMBERGER LTD	$2,682,000	–	75,000	–	0.40%	–
HOMB	New	HOME BANCSHARES INC	$2,575,000	–	124,000	–	0.39%	–
MMC	New	MARSH & MCLENNAN COS INC	$2,484,000	–	16,000	–	0.37%	–
IART	New	INTEGRA LIFESCIENCES HLDGS	$2,431,000	–	45,000	–	0.36%	–
WNC	New	WABASH NATL CORP	$2,241,000	–	165,000	–	0.34%	–
GTES	New	GATES INDUSTRIAL CORPRATIN P	$2,162,000	–	200,000	–	0.32%	–
SHYF	New	SHYFT GROUP INC	$2,138,000	–	115,000	–	0.32%	–
JOUT	New	JOHNSON OUTDOORS INCcl a	$1,927,000	–	31,500	–	0.29%	–
KTB	New	KONTOOR BRANDS INC	$1,902,000	–	57,000	–	0.28%	–
BLBD	New	BLUE BIRD CORP	$1,870,000	–	203,000	–	0.28%	–
LCUT	New	LIFETIME BRANDS INC	$1,731,000	–	156,767	–	0.26%	–
FSS	New	FEDERAL SIGNAL CORP	$1,630,000	–	45,800	–	0.24%	–
MLR	New	MILLER INDS INC TENN	$1,610,000	–	71,000	–	0.24%	–
TKR	New	TIMKEN CO	$1,273,000	–	24,000	–	0.19%	–
FHB	New	FIRST HAWAIIAN INC	$1,226,000	–	54,000	–	0.18%	–
GHM	New	GRAHAM CORP	$1,114,000	–	161,000	–	0.17%	–
BIG	New	BIG LOTS INC	$1,028,000	–	49,000	–	0.15%	–

Q4 2021

			Value		Shares		↓ Weighting
UFPT	Exit	UFP TECHNOLOGIES INC	$0	–	-4,000	–	-0.03%	–
KFY	Exit	KORN FERRY	$0	–	-18,000	–	-0.16%	–
NLS	Exit	NAUTILUS INC	$0	–	-170,000	–	-0.19%	–
FSS	Exit	FEDERAL SIGNAL CORP	$0	–	-42,000	–	-0.20%	–
BRC	Exit	BRADY CORPcl a	$0	–	-32,000	–	-0.20%	–
MLR	Exit	MILLER INDS INC TENN	$0	–	-48,600	–	-0.20%	–
GHM	Exit	GRAHAM CORP	$0	–	-134,610	–	-0.20%	–
FHB	Exit	FIRST HAWAIIAN INC	$0	–	-73,400	–	-0.26%	–
KTB	Exit	KONTOOR BRANDS INC	$0	–	-44,000	–	-0.27%	–
HRL	Exit	HORMEL FOODS CORP	$0	–	-62,000	–	-0.31%	–
BIG	Exit	BIG LOTS INC	$0	–	-59,000	–	-0.31%	–
AON	Exit	AON PLC	$0	–	-9,000	–	-0.32%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-7,500	–	-0.32%	–
IART	Exit	INTEGRA LIFESCIENCES HLDGS	$0	–	-41,000	–	-0.34%	–
VSH	Exit	VISHAY INTERTECHNOLOGY INC	$0	–	-142,000	–	-0.35%	–
LCUT	Exit	LIFETIME BRANDS INC	$0	–	-158,425	–	-0.35%	–
JOUT	Exit	JOHNSON OUTDOORS INCcl a	$0	–	-27,389	–	-0.36%	–
HOMB	Exit	HOME BANCSHARES INC	$0	–	-132,000	–	-0.38%	–
GTES	Exit	GATES INDUSTRIAL CORPRATIN P	$0	–	-200,000	–	-0.40%	–
V	Exit	VISA INC	$0	–	-15,000	–	-0.41%	–
SHYF	Exit	SHYFT GROUP INC	$0	–	-89,000	–	-0.42%	–
KEYS	Exit	KEYSIGHT TECHNOLOGIES INC	$0	–	-22,000	–	-0.44%	–
WNC	Exit	WABASH NATL CORP	$0	–	-244,500	–	-0.45%	–
INS	Exit	INTELLIGENT SYS CORP NEW	$0	–	-92,000	–	-0.46%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-20,000	–	-0.47%	–
BLBD	Exit	BLUE BIRD CORP	$0	–	-189,395	–	-0.48%	–
CENTA	Exit	CENTRAL GARDEN & PET COcl a non-vtg	$0	–	-94,100	–	-0.50%	–
MMC	Exit	MARSH & MCLENNAN COS INC	$0	–	-27,000	–	-0.50%	–
LUV	Exit	SOUTHWEST AIRLS CO	$0	–	-81,000	–	-0.51%	–
KDP	Exit	KEURIG DR PEPPER INC	$0	–	-124,000	–	-0.52%	–
PBH	Exit	PRESTIGE BRANDS HLDGS INC	$0	–	-86,000	–	-0.59%	–
UHS	Exit	UNIVERSAL HLTH SVCS INCcl b	$0	–	-37,000	–	-0.63%	–
MCO	Exit	MOODYS CORP	$0	–	-14,500	–	-0.63%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-26,500	–	-0.65%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-94,000	–	-0.65%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-19,000	–	-0.66%	–
LOW	Exit	LOWES COS INC	$0	–	-27,000	–	-0.67%	–
ORCL	Exit	ORACLE CORP	$0	–	-63,000	–	-0.67%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-33,000	–	-0.68%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-13,000	–	-0.68%	–
HOLX	Exit	HOLOGIC INC	$0	–	-75,810	–	-0.69%	–
MCD	Exit	MCDONALDS CORP	$0	–	-24,000	–	-0.71%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-47,000	–	-0.76%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-2,400	–	-0.78%	–
BKNG	Exit	BOOKING HLDGS INC	$0	–	-2,725	–	-0.79%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-17,500	–	-0.84%	–
CBRE	Exit	CBRE GROUP INCcl a	$0	–	-72,000	–	-0.86%	–
WGO	Exit	WINNEBAGO INDS INC	$0	–	-99,450	–	-0.88%	–
CMI	Exit	CUMMINS INC	$0	–	-33,000	–	-0.91%	–
PB	Exit	PROSPERITY BANCSHARES INC	$0	–	-104,500	–	-0.91%	–
LKQ	Exit	LKQ CORP	$0	–	-151,000	–	-0.93%	–
EMN	Exit	EASTMAN CHEM CO	$0	–	-76,000	–	-0.94%	–
TKR	Exit	TIMKEN CO	$0	–	-117,100	–	-0.94%	–
TPR	Exit	TAPESTRY INC	$0	–	-208,850	–	-0.95%	–
TRV	Exit	TRAVELERS COMPANIES INC	$0	–	-51,000	–	-0.95%	–
CARR	Exit	CARRIER GLOBAL CORPORATION	$0	–	-152,000	–	-0.96%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-92,000	–	-0.97%	–
LHX	Exit	L3HARRIS TECHNOLOGIES INC	$0	–	-36,000	–	-0.97%	–
REYN	Exit	REYNOLDS CONSUMER PRODS INC	$0	–	-297,400	–	-1.00%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-20,750	–	-1.04%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-287,000	–	-1.04%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-68,000	–	-1.04%	–
AXTA	Exit	AXALTA COATING SYS LTD	$0	–	-293,500	–	-1.05%	–
DGX	Exit	QUEST DIAGNOSTICS INC	$0	–	-60,000	–	-1.07%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-32,000	–	-1.07%	–
EFX	Exit	EQUIFAX INC	$0	–	-34,500	–	-1.07%	–
DLTR	Exit	DOLLAR TREE INC	$0	–	-92,000	–	-1.08%	–
SSNC	Exit	SS&C TECHNOLOGIES HLDGS INC	$0	–	-129,000	–	-1.10%	–
FITB	Exit	FIFTH THIRD BANCORP	$0	–	-214,000	–	-1.11%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-24,500	–	-1.14%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-51,000	–	-1.14%	–
SWK	Exit	STANLEY BLACK & DECKER INC	$0	–	-53,000	–	-1.14%	–
DIS	Exit	DISNEY WALT CO	$0	–	-55,000	–	-1.14%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-168,000	–	-1.15%	–
AAPL	Exit	APPLE INC	$0	–	-67,000	–	-1.16%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-28,000	–	-1.16%	–
USB	Exit	US BANCORP DEL	$0	–	-160,000	–	-1.16%	–
CBRL	Exit	CRACKER BARREL OLD CTRY STOR	$0	–	-69,200	–	-1.19%	–
GLW	Exit	CORNING INC	$0	–	-269,034	–	-1.20%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-218,000	–	-1.24%	–
EBAY	Exit	EBAY INC	$0	–	-146,000	–	-1.25%	–
BAX	Exit	BAXTER INTL INC	$0	–	-127,000	–	-1.25%	–
GM	Exit	GENERAL MTRS CO	$0	–	-195,000	–	-1.26%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-64,000	–	-1.27%	–
DAL	Exit	DELTA AIR LINES INC DEL	$0	–	-244,000	–	-1.27%	–
WLTW	Exit	WILLIS TOWERS WATSON PUB LTD	$0	–	-45,000	–	-1.28%	–
KLIC	Exit	KULICKE & SOFFA INDS INC	$0	–	-182,000	–	-1.30%	–
CTVA	Exit	CORTEVA INC	$0	–	-262,000	–	-1.35%	–
JLL	Exit	JONES LANG LASALLE INC	$0	–	-44,700	–	-1.36%	–
FDX	Exit	FEDEX CORP	$0	–	-52,000	–	-1.40%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-159,000	–	-1.41%	–
JBLU	Exit	JETBLUE AIRWAYS CORP	$0	–	-764,000	–	-1.43%	–
WRK	Exit	WESTROCK CO	$0	–	-235,250	–	-1.44%	–
VIAC	Exit	VIACOMCBS INCcl b	$0	–	-297,000	–	-1.44%	–
INTC	Exit	INTEL CORP	$0	–	-221,000	–	-1.44%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-49,000	–	-1.48%	–
CSCO	Exit	CISCO SYS INC	$0	–	-225,000	–	-1.50%	–
CFG	Exit	CITIZENS FINL GROUP INC	$0	–	-264,950	–	-1.52%	–
DENN	Exit	DENNYS CORP	$0	–	-767,000	–	-1.54%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-72,050	–	-1.57%	–
DIN	Exit	DINEEQUITY INC	$0	–	-164,000	–	-1.63%	–
ST	Exit	SENSATA TECHNOLOGIES HLDNG P	$0	–	-249,510	–	-1.67%	–
ZBH	Exit	ZIMMER HLDGS INC	$0	–	-100,000	–	-1.79%	–
WCC	Exit	WESCO INTL INC	$0	–	-129,000	–	-1.82%	–
CVS	Exit	CVS CAREMARK CORPORATION	$0	–	-177,000	–	-1.84%	–
IVZ	Exit	INVESCO LTD	$0	–	-674,500	–	-1.99%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE INC	$0	–	-380,500	–	-2.19%	–
DISCK	Exit	DISCOVERY COMMUNICATIONS NEW	$0	–	-756,000	–	-2.25%	–

Q3 2021

			Value		Shares		↓ Weighting
DISCK	Buy	DISCOVERY COMMUNICATIONS NEW	$18,348,000	-4.3%	756,000	+14.3%	2.25%	-6.8%
IVZ	Buy	INVESCO LTD	$16,262,000	-3.0%	674,500	+7.6%	1.99%	-5.6%
CVS	Sell	CVS CAREMARK CORPORATION	$15,020,000	+0.0%	177,000	-1.7%	1.84%	-2.7%
WCC	Sell	WESCO INTL INC	$14,876,000	-7.3%	129,000	-17.3%	1.82%	-9.7%
ZBH	Buy	ZIMMER HLDGS INC	$14,636,000	+35.8%	100,000	+49.3%	1.79%	+32.1%
ST	Sell	SENSATA TECHNOLOGIES HLDNG P	$13,653,000	-6.7%	249,510	-1.1%	1.67%	-9.2%
DIN	Buy	DINEEQUITY INC	$13,318,000	+11.8%	164,000	+22.8%	1.63%	+8.8%
MHK	Buy	MOHAWK INDS INC	$12,782,000	+5.6%	72,050	+14.4%	1.57%	+2.8%
DENN	Buy	DENNYS CORP	$12,533,000	+23.6%	767,000	+24.7%	1.54%	+20.4%
CFG	Sell	CITIZENS FINL GROUP INC	$12,447,000	+1.6%	264,950	-0.8%	1.52%	-1.1%
CSCO	Sell	CISCO SYS INC	$12,247,000	-7.9%	225,000	-10.4%	1.50%	-10.4%
BDX	Buy	BECTON DICKINSON & CO	$12,045,000	+5.4%	49,000	+4.3%	1.48%	+2.6%
INTC	Buy	INTEL CORP	$11,775,000	-1.1%	221,000	+4.2%	1.44%	-3.7%
VIAC	Buy	VIACOMCBS INCcl b	$11,734,000	-5.6%	297,000	+8.0%	1.44%	-8.1%
WRK	Buy	WESTROCK CO	$11,723,000	+6.5%	235,250	+13.8%	1.44%	+3.7%
JBLU	Buy	JETBLUE AIRWAYS CORP	$11,682,000	+6.0%	764,000	+16.3%	1.43%	+3.1%
OMC	Buy	OMNICOM GROUP INC	$11,521,000	+2.9%	159,000	+13.6%	1.41%	+0.1%
FDX	Buy	FEDEX CORP	$11,403,000	+15.8%	52,000	+57.6%	1.40%	+12.8%
JLL	Buy	JONES LANG LASALLE INC	$11,090,000	+45.5%	44,700	+14.6%	1.36%	+41.6%
CTVA	Buy	CORTEVA INC	$11,025,000	+23.7%	262,000	+30.3%	1.35%	+20.4%
KLIC	Sell	KULICKE & SOFFA INDS INC	$10,607,000	-28.1%	182,000	-24.5%	1.30%	-30.0%
WLTW	Buy	WILLIS TOWERS WATSON PUB LTD	$10,461,000	+26.3%	45,000	+25.0%	1.28%	+22.9%
DAL	Buy	DELTA AIR LINES INC DEL	$10,397,000	+24.5%	244,000	+26.4%	1.27%	+21.2%
GM	Buy	GENERAL MTRS CO	$10,278,000	+34.7%	195,000	+51.2%	1.26%	+31.0%
BAX	Buy	BAXTER INTL INC	$10,215,000	+54.7%	127,000	+54.9%	1.25%	+50.7%
EBAY	Sell	EBAY INC	$10,172,000	-32.3%	146,000	-31.8%	1.25%	-34.1%
WFC	Sell	WELLS FARGO CO NEW	$10,117,000	-9.6%	218,000	-11.7%	1.24%	-11.9%
GLW	Buy	CORNING INC	$9,817,000	+3.6%	269,034	+16.1%	1.20%	+0.8%
CBRL	Buy	CRACKER BARREL OLD CTRY STOR	$9,677,000	+16.4%	69,200	+23.6%	1.19%	+13.3%
FB	Sell	FACEBOOK INCcl a	$9,503,000	-8.9%	28,000	-6.7%	1.16%	-11.3%
AAPL	Sell	APPLE INC	$9,481,000	-7.7%	67,000	-10.7%	1.16%	-10.1%
UPS	Buy	UNITED PARCEL SERVICE INCcl b	$9,287,000	+14.5%	51,000	+30.8%	1.14%	+11.5%
SWK	Buy	STANLEY BLACK & DECKER INC	$9,291,000	+61.9%	53,000	+89.3%	1.14%	+57.4%
FITB	Sell	FIFTH THIRD BANCORP	$9,082,000	+7.0%	214,000	-3.6%	1.11%	+4.2%
SSNC	Buy	SS&C TECHNOLOGIES HLDGS INC	$8,953,000	+14.0%	129,000	+18.3%	1.10%	+10.9%
DLTR	Buy	DOLLAR TREE INC	$8,806,000	+16.5%	92,000	+21.1%	1.08%	+13.3%
EFX	Sell	EQUIFAX INC	$8,743,000	-18.9%	34,500	-23.3%	1.07%	-21.1%
DGX	Sell	QUEST DIAGNOSTICS INC	$8,719,000	+6.6%	60,000	-3.2%	1.07%	+3.7%
AXTA	Buy	AXALTA COATING SYS LTD	$8,567,000	+8.6%	293,500	+13.5%	1.05%	+5.7%
MDT	Sell	MEDTRONIC PLC	$8,524,000	-3.3%	68,000	-4.2%	1.04%	-5.9%
SLB	Buy	SCHLUMBERGER LTD	$8,507,000	+11.2%	287,000	+20.1%	1.04%	+8.2%
GNRC	Sell	GENERAC HLDGS INC	$8,480,000	-9.2%	20,750	-7.8%	1.04%	-11.6%
REYN	Buy	REYNOLDS CONSUMER PRODS INC	$8,131,000	+47.2%	297,400	+63.4%	1.00%	+43.3%
LHX	Sell	L3HARRIS TECHNOLOGIES INC	$7,929,000	-5.9%	36,000	-7.7%	0.97%	-8.5%
RTX	Buy	RAYTHEON TECHNOLOGIES CORP	$7,908,000	+20.4%	92,000	+19.5%	0.97%	+17.2%
CARR	Sell	CARRIER GLOBAL CORPORATION	$7,868,000	-18.2%	152,000	-23.2%	0.96%	-20.4%
TPR	Buy	TAPESTRY INC	$7,732,000	+122.3%	208,850	+161.1%	0.95%	+116.2%
TKR	Buy	TIMKEN CO	$7,661,000	+3.9%	117,100	+28.0%	0.94%	+1.2%
EMN	Buy	EASTMAN CHEM CO	$7,656,000	+111.6%	76,000	+145.2%	0.94%	+105.7%
LKQ	Buy	LKQ CORP	$7,598,000	+9.4%	151,000	+7.0%	0.93%	+6.5%
PB	Buy	PROSPERITY BANCSHARES INC	$7,433,000	+5.4%	104,500	+6.4%	0.91%	+2.6%
CMI	Buy	CUMMINS INC	$7,410,000	+26.6%	33,000	+37.5%	0.91%	+23.2%
WGO	Buy	WINNEBAGO INDS INC	$7,205,000	+49.3%	99,450	+40.1%	0.88%	+45.5%
UNH	Sell	UNITEDHEALTH GROUP INC	$6,838,000	-7.7%	17,500	-5.4%	0.84%	-10.2%
BKNG	Buy	BOOKING HLDGS INC	$6,469,000	+31.4%	2,725	+21.1%	0.79%	+27.9%
GOOG	Sell	ALPHABET INCcap stk cl c	$6,397,000	-17.7%	2,400	-22.6%	0.78%	-19.8%
HOLX	Sell	HOLOGIC INC	$5,596,000	-11.7%	75,810	-20.2%	0.69%	-14.0%
SPGI	Sell	S&P GLOBAL INC	$5,524,000	-0.3%	13,000	-3.7%	0.68%	-3.0%
AXP	Sell	AMERICAN EXPRESS CO	$5,528,000	-1.6%	33,000	-2.9%	0.68%	-4.2%
ORCL	Sell	ORACLE CORP	$5,489,000	+3.7%	63,000	-7.4%	0.67%	+1.1%
MSFT	Sell	MICROSOFT CORP	$5,356,000	-5.9%	19,000	-9.5%	0.66%	-8.4%
ADP	Sell	AUTOMATIC DATA PROCESSING IN	$5,298,000	-8.0%	26,500	-8.6%	0.65%	-10.5%
MCO	Sell	MOODYS CORP	$5,149,000	-8.3%	14,500	-6.5%	0.63%	-10.7%
PBH	Sell	PRESTIGE BRANDS HLDGS INC	$4,825,000	-12.6%	86,000	-18.9%	0.59%	-15.0%
LUV	Buy	SOUTHWEST AIRLS CO	$4,166,000	+9.0%	81,000	+12.5%	0.51%	+6.0%
CENTA	Buy	CENTRAL GARDEN & PET COcl a non-vtg	$4,046,000	-4.8%	94,100	+6.9%	0.50%	-7.3%
BLBD	Buy	BLUE BIRD CORP	$3,951,000	+6.0%	189,395	+26.3%	0.48%	+3.2%
INS	Sell	INTELLIGENT SYS CORP NEW	$3,736,000	+4.2%	92,000	-19.3%	0.46%	+1.6%
WNC	Buy	WABASH NATL CORP	$3,699,000	+5.6%	244,500	+11.6%	0.45%	+2.7%
KEYS	Sell	KEYSIGHT TECHNOLOGIES INC	$3,614,000	-58.6%	22,000	-61.1%	0.44%	-59.7%
SHYF	Sell	SHYFT GROUP INC	$3,383,000	-24.6%	89,000	-25.8%	0.42%	-26.5%
V	Sell	VISA INC	$3,341,000	-24.8%	15,000	-21.1%	0.41%	-26.8%
HOMB	Buy	HOME BANCSHARES INC	$3,106,000	-2.4%	132,000	+2.3%	0.38%	-5.0%
JOUT	Buy	JOHNSON OUTDOORS INCcl a	$2,898,000	-0.2%	27,389	+14.1%	0.36%	-3.0%
LCUT	Sell	LIFETIME BRANDS INC	$2,882,000	+12.6%	158,425	-7.4%	0.35%	+9.6%
VSH	Buy	VISHAY INTERTECHNOLOGY INC	$2,853,000	-6.3%	142,000	+5.2%	0.35%	-8.6%
IART	Sell	INTEGRA LIFESCIENCES HLDGS	$2,808,000	-10.5%	41,000	-10.9%	0.34%	-12.9%
BIG	Buy	BIG LOTS INC	$2,558,000	+4.8%	59,000	+59.5%	0.31%	+2.0%
HRL	New	HORMEL FOODS CORP	$2,542,000	–	62,000	–	0.31%	–
KTB	Buy	KONTOOR BRANDS INC	$2,198,000	+29.9%	44,000	+46.7%	0.27%	+26.3%
FHB	Sell	FIRST HAWAIIAN INC	$2,154,000	-1.3%	73,400	-4.7%	0.26%	-4.0%
GHM	Buy	GRAHAM CORP	$1,669,000	+6.5%	134,610	+18.2%	0.20%	+3.6%
MLR	Buy	MILLER INDS INC TENN	$1,654,000	-2.5%	48,600	+13.0%	0.20%	-5.1%
BRC	Buy	BRADY CORPcl a	$1,622,000	+7.2%	32,000	+18.5%	0.20%	+4.7%
NLS	New	NAUTILUS INC	$1,583,000	–	170,000	–	0.19%	–
KFY	Sell	KORN FERRY	$1,302,000	-18.4%	18,000	-18.2%	0.16%	-20.4%
UFPT	Sell	UFP TECHNOLOGIES INC	$246,000	-65.2%	4,000	-67.5%	0.03%	-66.3%
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-14,500	–	-0.54%	–

Q2 2021

			Value		Shares		↓ Weighting
WBA	New	WALGREENS BOOTS ALLIANCE INC	$20,018,000	–	380,500	–	2.52%	–
DISCK	New	DISCOVERY COMMUNICATIONS NEW	$19,167,000	–	661,400	–	2.41%	–
IVZ	New	INVESCO LTD	$16,762,000	–	627,084	–	2.11%	–
WCC	New	WESCO INTL INC	$16,040,000	–	156,000	–	2.02%	–
EBAY	New	EBAY INC	$15,025,000	–	214,000	–	1.89%	–
CVS	New	CVS CAREMARK CORPORATION	$15,019,000	–	180,000	–	1.89%	–
KLIC	New	KULICKE & SOFFA INDS INC	$14,749,000	–	241,000	–	1.86%	–
ST	New	SENSATA TECHNOLOGIES HLDNG P	$14,632,000	–	252,410	–	1.84%	–
CSCO	New	CISCO SYS INC	$13,303,000	–	251,000	–	1.68%	–
VIAC	New	VIACOMCBS INCcl b	$12,430,000	–	275,000	–	1.56%	–
CFG	New	CITIZENS FINL GROUP INC	$12,247,000	–	267,000	–	1.54%	–
MHK	New	MOHAWK INDS INC	$12,108,000	–	63,000	–	1.52%	–
DIN	New	DINEEQUITY INC	$11,915,000	–	133,500	–	1.50%	–
INTC	New	INTEL CORP	$11,902,000	–	212,000	–	1.50%	–
BDX	New	BECTON DICKINSON & CO	$11,430,000	–	47,000	–	1.44%	–
OMC	New	OMNICOM GROUP INC	$11,199,000	–	140,000	–	1.41%	–
WFC	New	WELLS FARGO CO NEW	$11,187,000	–	247,000	–	1.41%	–
JBLU	New	JETBLUE AIRWAYS CORP	$11,024,000	–	657,000	–	1.39%	–
WRK	New	WESTROCK CO	$11,003,000	–	206,750	–	1.38%	–
EFX	New	EQUIFAX INC	$10,778,000	–	45,000	–	1.36%	–
ZBH	New	ZIMMER HLDGS INC	$10,775,000	–	67,000	–	1.36%	–
JNJ	New	JOHNSON & JOHNSON	$10,543,000	–	64,000	–	1.33%	–
FB	New	FACEBOOK INCcl a	$10,431,000	–	30,000	–	1.31%	–
AAPL	New	APPLE INC	$10,272,000	–	75,000	–	1.29%	–
DENN	New	DENNYS CORP	$10,139,000	–	614,870	–	1.28%	–
FDX	New	FEDEX CORP	$9,845,000	–	33,000	–	1.24%	–
DIS	New	DISNEY WALT CO	$9,667,000	–	55,000	–	1.22%	–
CARR	New	CARRIER GLOBAL CORPORATION	$9,623,000	–	198,000	–	1.21%	–
CMCSA	New	COMCAST CORP NEWcl a	$9,579,000	–	168,000	–	1.21%	–
GLW	New	CORNING INC	$9,477,000	–	231,700	–	1.19%	–
GNRC	New	GENERAC HLDGS INC	$9,341,000	–	22,500	–	1.18%	–
GS	New	GOLDMAN SACHS GROUP INC	$9,298,000	–	24,500	–	1.17%	–
USB	New	US BANCORP DEL	$9,115,000	–	160,000	–	1.15%	–
CTVA	New	CORTEVA INC	$8,914,000	–	201,000	–	1.12%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$8,893,000	–	32,000	–	1.12%	–
MDT	New	MEDTRONIC PLC	$8,813,000	–	71,000	–	1.11%	–
KEYS	New	KEYSIGHT TECHNOLOGIES INC	$8,724,000	–	56,500	–	1.10%	–
FITB	New	FIFTH THIRD BANCORP	$8,487,000	–	222,000	–	1.07%	–
LHX	New	L3HARRIS TECHNOLOGIES INC	$8,430,000	–	39,000	–	1.06%	–
DAL	New	DELTA AIR LINES INC DEL	$8,349,000	–	193,000	–	1.05%	–
CBRL	New	CRACKER BARREL OLD CTRY STOR	$8,314,000	–	56,000	–	1.05%	–
WLTW	New	WILLIS TOWERS WATSON PUB LTD	$8,281,000	–	36,000	–	1.04%	–
DGX	New	QUEST DIAGNOSTICS INC	$8,182,000	–	62,000	–	1.03%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$8,111,000	–	39,000	–	1.02%	–
AXTA	New	AXALTA COATING SYS LTD	$7,888,000	–	258,700	–	0.99%	–
SSNC	New	SS&C TECHNOLOGIES HLDGS INC	$7,855,000	–	109,000	–	0.99%	–
GOOG	New	ALPHABET INCcap stk cl c	$7,770,000	–	3,100	–	0.98%	–
SLB	New	SCHLUMBERGER LTD	$7,650,000	–	239,000	–	0.96%	–
TRV	New	TRAVELERS COMPANIES INC	$7,635,000	–	51,000	–	0.96%	–
GM	New	GENERAL MTRS CO	$7,633,000	–	129,000	–	0.96%	–
JLL	New	JONES LANG LASALLE INC	$7,623,000	–	39,000	–	0.96%	–
DLTR	New	DOLLAR TREE INC	$7,562,000	–	76,000	–	0.95%	–
UNH	New	UNITEDHEALTH GROUP INC	$7,408,000	–	18,500	–	0.93%	–
TKR	New	TIMKEN CO	$7,374,000	–	91,500	–	0.93%	–
PB	New	PROSPERITY BANCSHARES INC	$7,052,000	–	98,211	–	0.89%	–
LKQ	New	LKQ CORP	$6,945,000	–	141,101	–	0.87%	–
WDC	New	WESTERN DIGITAL CORP	$6,690,000	–	94,000	–	0.84%	–
BAX	New	BAXTER INTL INC	$6,601,000	–	82,000	–	0.83%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$6,569,000	–	77,000	–	0.83%	–
HOLX	New	HOLOGIC INC	$6,338,000	–	95,000	–	0.80%	–
KMB	New	KIMBERLY CLARK CORP	$6,288,000	–	47,000	–	0.79%	–
CBRE	New	CBRE GROUP INCcl a	$6,173,000	–	72,000	–	0.78%	–
CMI	New	CUMMINS INC	$5,851,000	–	24,000	–	0.74%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$5,760,000	–	29,000	–	0.72%	–
SWK	New	STANLEY BLACK & DECKER INC	$5,740,000	–	28,000	–	0.72%	–
MSFT	New	MICROSOFT CORP	$5,689,000	–	21,000	–	0.72%	–
AXP	New	AMERICAN EXPRESS CO	$5,618,000	–	34,000	–	0.71%	–
MCO	New	MOODYS CORP	$5,617,000	–	15,500	–	0.71%	–
SPGI	New	S&P GLOBAL INC	$5,541,000	–	13,500	–	0.70%	–
MCD	New	MCDONALDS CORP	$5,544,000	–	24,000	–	0.70%	–
PBH	New	PRESTIGE BRANDS HLDGS INC	$5,523,000	–	106,000	–	0.70%	–
REYN	New	REYNOLDS CONSUMER PRODS INC	$5,524,000	–	182,000	–	0.70%	–
UHS	New	UNIVERSAL HLTH SVCS INCcl b	$5,418,000	–	37,000	–	0.68%	–
ORCL	New	ORACLE CORP	$5,293,000	–	68,000	–	0.67%	–
LOW	New	LOWES COS INC	$5,237,000	–	27,000	–	0.66%	–
BKNG	New	BOOKING HLDGS INC	$4,923,000	–	2,250	–	0.62%	–
WGO	New	WINNEBAGO INDS INC	$4,825,000	–	71,000	–	0.61%	–
SHYF	New	SHYFT GROUP INC	$4,489,000	–	120,000	–	0.56%	–
V	New	VISA INC	$4,443,000	–	19,000	–	0.56%	–
KDP	New	KEURIG DR PEPPER INC	$4,370,000	–	124,000	–	0.55%	–
ACN	New	ACCENTURE PLC IRELAND	$4,274,000	–	14,500	–	0.54%	–
CENTA	New	CENTRAL GARDEN & PET COcl a non-vtg	$4,250,000	–	88,000	–	0.54%	–
TXN	New	TEXAS INSTRS INC	$3,846,000	–	20,000	–	0.48%	–
LUV	New	SOUTHWEST AIRLS CO	$3,822,000	–	72,000	–	0.48%	–
MMC	New	MARSH & MCLENNAN COS INC	$3,798,000	–	27,000	–	0.48%	–
BLBD	New	BLUE BIRD CORP	$3,729,000	–	150,000	–	0.47%	–
EMN	New	EASTMAN CHEM CO	$3,619,000	–	31,000	–	0.46%	–
GTES	New	GATES INDUSTRIAL CORPRATIN P	$3,614,000	–	200,000	–	0.46%	–
INS	New	INTELLIGENT SYS CORP NEW	$3,586,000	–	114,000	–	0.45%	–
WNC	New	WABASH NATL CORP	$3,504,000	–	219,000	–	0.44%	–
TPR	New	TAPESTRY INC	$3,478,000	–	80,000	–	0.44%	–
HOMB	New	HOME BANCSHARES INC	$3,184,000	–	129,000	–	0.40%	–
IART	New	INTEGRA LIFESCIENCES HLDGS	$3,139,000	–	46,000	–	0.40%	–
VSH	New	VISHAY INTERTECHNOLOGY INC	$3,044,000	–	135,000	–	0.38%	–
JOUT	New	JOHNSON OUTDOORS INCcl a	$2,904,000	–	24,000	–	0.37%	–
MA	New	MASTERCARD INCcl a	$2,738,000	–	7,500	–	0.34%	–
LCUT	New	LIFETIME BRANDS INC	$2,560,000	–	171,000	–	0.32%	–
BIG	New	BIG LOTS INC	$2,442,000	–	37,000	–	0.31%	–
FHB	New	FIRST HAWAIIAN INC	$2,182,000	–	77,000	–	0.28%	–
AON	New	AON PLC	$2,149,000	–	9,000	–	0.27%	–
MLR	New	MILLER INDS INC TENN	$1,696,000	–	43,000	–	0.21%	–
FSS	New	FEDERAL SIGNAL CORP	$1,690,000	–	42,000	–	0.21%	–
KTB	New	KONTOOR BRANDS INC	$1,692,000	–	30,000	–	0.21%	–
KFY	New	KORN FERRY	$1,596,000	–	22,000	–	0.20%	–
GHM	New	GRAHAM CORP	$1,567,000	–	113,910	–	0.20%	–
BRC	New	BRADY CORPcl a	$1,513,000	–	27,000	–	0.19%	–
UFPT	New	UFP TECHNOLOGIES INC	$706,000	–	12,300	–	0.09%	–

Q4 2020

			Value		Shares		↓ Weighting
LEVI	Exit	LEVI STRAUSS & CO NEW	$0	–	-7,000	–	-0.02%	–
INS	Exit	INTELLIGENT SYS CORP NEW	$0	–	-13,500	–	-0.10%	–
KFY	Exit	KORN FERRY	$0	–	-25,000	–	-0.13%	–
DNOW	Exit	NOW INC	$0	–	-176,000	–	-0.14%	–
FSS	Exit	FEDERAL SIGNAL CORP	$0	–	-29,000	–	-0.15%	–
AGCO	Exit	AGCO CORP	$0	–	-13,500	–	-0.18%	–
MLR	Exit	MILLER INDS INC TENN	$0	–	-33,523	–	-0.19%	–
FHB	Exit	FIRST HAWAIIAN INC	$0	–	-71,000	–	-0.19%	–
LCUT	Exit	LIFETIME BRANDS INC	$0	–	-117,000	–	-0.20%	–
BIG	Exit	BIG LOTS INC	$0	–	-25,000	–	-0.20%	–
VSH	Exit	VISHAY INTERTECHNOLOGY INC	$0	–	-72,000	–	-0.20%	–
HOMB	Exit	HOME BANCSHARES INC	$0	–	-87,000	–	-0.24%	–
CENTA	Exit	CENTRAL GARDEN & PET COcl a non-vtg	$0	–	-38,000	–	-0.25%	–
PBH	Exit	PRESTIGE BRANDS HLDGS INC	$0	–	-41,000	–	-0.27%	–
AON	Exit	AON PLC	$0	–	-9,000	–	-0.34%	–
BLBD	Exit	BLUE BIRD CORP	$0	–	-160,014	–	-0.35%	–
SHYF	Exit	SHYFT GROUP INC	$0	–	-106,312	–	-0.36%	–
IART	Exit	INTEGRA LIFESCIENCES HLDGS	$0	–	-43,000	–	-0.37%	–
WNC	Exit	WABASH NATL CORP	$0	–	-172,000	–	-0.37%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-12,000	–	-0.47%	–
SNA	Exit	SNAP ON INC	$0	–	-18,000	–	-0.48%	–
CMI	Exit	CUMMINS INC	$0	–	-13,000	–	-0.50%	–
ETN	Exit	EATON CORP PLC	$0	–	-27,000	–	-0.50%	–
ZBRA	Exit	ZEBRA TECHNOLOGIES CORPcl a	$0	–	-11,100	–	-0.51%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-13,000	–	-0.53%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-14,200	–	-0.54%	–
MMC	Exit	MARSH & MCLENNAN COS INC	$0	–	-27,000	–	-0.56%	–
LFUS	Exit	LITTELFUSE INC	$0	–	-17,600	–	-0.57%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-24,000	–	-0.62%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-64,000	–	-0.67%	–
DAL	Exit	DELTA AIR LINES INC DEL	$0	–	-126,000	–	-0.70%	–
IR	Exit	INGERSOLL RAND INC	$0	–	-111,000	–	-0.72%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-11,000	–	-0.72%	–
EMN	Exit	EASTMAN CHEM CO	$0	–	-51,000	–	-0.72%	–
APTV	Exit	APTIV PLC	$0	–	-44,000	–	-0.73%	–
SEAS	Exit	SEAWORLD ENTMT INC	$0	–	-204,463	–	-0.73%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-12,000	–	-0.74%	–
DIN	Exit	DINEEQUITY INC	$0	–	-75,788	–	-0.75%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-28,000	–	-0.76%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-30,000	–	-0.76%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-274,000	–	-0.77%	–
SSNC	Exit	SS&C TECHNOLOGIES HLDGS INC	$0	–	-71,000	–	-0.78%	–
LOW	Exit	LOWES COS INC	$0	–	-26,000	–	-0.78%	–
MCO	Exit	MOODYS CORP	$0	–	-15,000	–	-0.79%	–
V	Exit	VISA INC	$0	–	-24,000	–	-0.87%	–
DENN	Exit	DENNYS CORP	$0	–	-481,453	–	-0.87%	–
JBLU	Exit	JETBLUE AIRWAYS CORP	$0	–	-442,700	–	-0.91%	–
DLTR	Exit	DOLLAR TREE INC	$0	–	-55,000	–	-0.91%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-34,000	–	-0.92%	–
ST	Exit	SENSATA TECHNOLOGIES HLDNG P	$0	–	-119,277	–	-0.93%	–
AXTA	Exit	AXALTA COATING SYS LTD	$0	–	-239,000	–	-0.96%	–
BKNG	Exit	BOOKING HLDGS INC	$0	–	-3,100	–	-0.96%	–
BAX	Exit	BAXTER INTL INC	$0	–	-67,000	–	-0.98%	–
USB	Exit	US BANCORP DEL	$0	–	-152,000	–	-0.99%	–
CARR	Exit	CARRIER GLOBAL CORPORATION	$0	–	-181,000	–	-1.00%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-26,000	–	-1.00%	–
TRV	Exit	TRAVELERS COMPANIES INC	$0	–	-51,700	–	-1.01%	–
CBRL	Exit	CRACKER BARREL OLD CTRY STOR	$0	–	-49,000	–	-1.02%	–
WLTW	Exit	WILLIS TOWERS WATSON PUB LTD	$0	–	-27,000	–	-1.02%	–
ORCL	Exit	ORACLE CORP	$0	–	-95,000	–	-1.03%	–
MCD	Exit	MCDONALDS CORP	$0	–	-26,000	–	-1.04%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-57,000	–	-1.04%	–
EFX	Exit	EQUIFAX INC	$0	–	-36,500	–	-1.04%	–
PB	Exit	PROSPERITY BANCSHARES INC	$0	–	-111,111	–	-1.04%	–
MIDD	Exit	MIDDLEBY CORP	$0	–	-65,500	–	-1.06%	–
GM	Exit	GENERAL MTRS CO	$0	–	-218,300	–	-1.17%	–
FITB	Exit	FIFTH THIRD BANCORP	$0	–	-310,000	–	-1.20%	–
DD	Exit	DUPONT DE NEMOURS INC	$0	–	-120,000	–	-1.21%	–
DIS	Exit	DISNEY WALT CO	$0	–	-54,000	–	-1.22%	–
KLIC	Exit	KULICKE & SOFFA INDS INC	$0	–	-303,000	–	-1.23%	–
EBAY	Exit	EBAY INC	$0	–	-136,000	–	-1.28%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-195,000	–	-1.29%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-23,000	–	-1.30%	–
AAPL	Exit	APPLE INC	$0	–	-62,000	–	-1.30%	–
UHS	Exit	UNIVERSAL HLTH SVCS INCcl b	$0	–	-68,000	–	-1.32%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-314,000	–	-1.34%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-45,000	–	-1.36%	–
CTVA	Exit	CORTEVA INC	$0	–	-263,960	–	-1.38%	–
GBX	Exit	GREENBRIER COS INC	$0	–	-260,495	–	-1.39%	–
TPR	Exit	TAPESTRY INC	$0	–	-495,100	–	-1.40%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-168,000	–	-1.41%	–
WRK	Exit	WESTROCK CO	$0	–	-227,000	–	-1.43%	–
GLW	Exit	CORNING INC	$0	–	-246,000	–	-1.45%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-163,000	–	-1.46%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-84,000	–	-1.49%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-42,000	–	-1.53%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-33,000	–	-1.57%	–
CFG	Exit	CITIZENS FINL GROUP INC	$0	–	-352,900	–	-1.62%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-86,000	–	-1.62%	–
INTC	Exit	INTEL CORP	$0	–	-179,000	–	-1.68%	–
KEYS	Exit	KEYSIGHT TECHNOLOGIES INC	$0	–	-94,900	–	-1.70%	–
WCC	Exit	WESCO INTL INC	$0	–	-214,000	–	-1.71%	–
CSCO	Exit	CISCO SYS INC	$0	–	-241,000	–	-1.72%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-41,000	–	-1.73%	–
CVS	Exit	CVS CAREMARK CORPORATION	$0	–	-167,000	–	-1.77%	–
FDX	Exit	FEDEX CORP	$0	–	-39,000	–	-1.78%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-51,000	–	-1.79%	–
ZBH	Exit	ZIMMER HLDGS INC	$0	–	-73,150	–	-1.81%	–
VIAC	Exit	VIACOMCBS INCcl b	$0	–	-357,000	–	-1.81%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-7,500	–	-2.00%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE INC	$0	–	-307,000	–	-2.00%	–
DISCK	Exit	DISCOVERY COMMUNICATIONS NEW	$0	–	-587,300	–	-2.09%	–
IVZ	Exit	INVESCO LTD	$0	–	-1,063,000	–	-2.20%	–

Q3 2020

			Value		Shares		↓ Weighting
DISCK	Buy	DISCOVERY COMMUNICATIONS NEW	$11,511,000	+11.1%	587,300	+9.2%	2.09%	+7.8%
WBA	Buy	WALGREENS BOOTS ALLIANCE INC	$11,027,000	+7.5%	307,000	+26.9%	2.00%	+4.4%
GOOG	Sell	ALPHABET INCcap stk cl c	$11,022,000	-6.1%	7,500	-9.6%	2.00%	-8.8%
ZBH	Sell	ZIMMER HLDGS INC	$9,959,000	+4.3%	73,150	-8.6%	1.81%	+1.2%
GNRC	Sell	GENERAC HLDGS INC	$9,876,000	+9.5%	51,000	-31.1%	1.79%	+6.2%
FDX	Sell	FEDEX CORP	$9,809,000	+20.6%	39,000	-32.8%	1.78%	+17.1%
CVS	Buy	CVS CAREMARK CORPORATION	$9,753,000	+4.2%	167,000	+16.0%	1.77%	+1.2%
BDX	Buy	BECTON DICKINSON & CO	$9,540,000	+0.9%	41,000	+3.8%	1.73%	-2.0%
CSCO	Buy	CISCO SYS INC	$9,493,000	-4.0%	241,000	+13.7%	1.72%	-6.8%
WCC	Sell	WESCO INTL INC	$9,420,000	+17.7%	214,000	-6.1%	1.71%	+14.2%
KEYS	Buy	KEYSIGHT TECHNOLOGIES INC	$9,374,000	+40.1%	94,900	+42.9%	1.70%	+36.0%
INTC	Buy	INTEL CORP	$9,269,000	+1.9%	179,000	+17.8%	1.68%	-1.1%
FB	Buy	FACEBOOK INCcl a	$8,643,000	+25.2%	33,000	+8.6%	1.57%	+21.5%
GS	Buy	GOLDMAN SACHS GROUP INC	$8,441,000	+9.5%	42,000	+7.7%	1.53%	+6.3%
MHK	Buy	MOHAWK INDS INC	$8,198,000	+46.5%	84,000	+52.7%	1.49%	+42.2%
OMC	Buy	OMNICOM GROUP INC	$8,069,000	-0.1%	163,000	+10.1%	1.46%	-3.1%
GLW	Sell	CORNING INC	$7,973,000	-9.5%	246,000	-27.6%	1.45%	-12.1%
WRK	Sell	WESTROCK CO	$7,886,000	-2.8%	227,000	-20.9%	1.43%	-5.6%
TPR	Buy	TAPESTRY INC	$7,738,000	+24.2%	495,100	+5.6%	1.40%	+20.5%
GBX	Sell	GREENBRIER COS INC	$7,659,000	+19.4%	260,495	-7.6%	1.39%	+15.8%
CTVA	Buy	CORTEVA INC	$7,605,000	+12.4%	263,960	+4.5%	1.38%	+9.1%
UPS	Sell	UNITED PARCEL SERVICE INCcl b	$7,498,000	+8.8%	45,000	-27.4%	1.36%	+5.6%
WFC	Buy	WELLS FARGO CO NEW	$7,382,000	-1.2%	314,000	+7.5%	1.34%	-4.2%
UHS	Sell	UNIVERSAL HLTH SVCS INCcl b	$7,277,000	+10.3%	68,000	-4.2%	1.32%	+7.1%
AAPL	Buy	APPLE INC	$7,180,000	-28.4%	62,000	+125.5%	1.30%	-30.5%
WDC	Buy	WESTERN DIGITAL CORP	$7,127,000	+21.4%	195,000	+46.6%	1.29%	+17.8%
EBAY	Buy	EBAY INC	$7,086,000	+4.7%	136,000	+5.4%	1.28%	+1.7%
KLIC	Buy	KULICKE & SOFFA INDS INC	$6,787,000	+10.4%	303,000	+2.7%	1.23%	+7.2%
DIS	Sell	DISNEY WALT CO	$6,700,000	-14.9%	54,000	-23.5%	1.22%	-17.4%
FITB	Buy	FIFTH THIRD BANCORP	$6,609,000	+19.0%	310,000	+7.6%	1.20%	+15.5%
GM	Sell	GENERAL MTRS CO	$6,459,000	+4.6%	218,300	-10.5%	1.17%	+1.6%
MIDD	Sell	MIDDLEBY CORP	$5,876,000	-23.5%	65,500	-32.7%	1.06%	-25.8%
PB	Buy	PROSPERITY BANCSHARES INC	$5,759,000	+19.6%	111,111	+37.0%	1.04%	+16.0%
EFX	Buy	EQUIFAX INC	$5,727,000	-3.4%	36,500	+5.8%	1.04%	-6.3%
MCD	Sell	MCDONALDS CORP	$5,707,000	-0.2%	26,000	-16.1%	1.04%	-3.1%
WLTW	Buy	WILLIS TOWERS WATSON PUB LTD	$5,638,000	+50.7%	27,000	+42.1%	1.02%	+46.2%
CBRL	Sell	CRACKER BARREL OLD CTRY STOR	$5,618,000	-6.2%	49,000	-9.3%	1.02%	-8.9%
TRV	Buy	TRAVELERS COMPANIES INC	$5,593,000	-3.9%	51,700	+1.4%	1.01%	-6.7%
BAX	Buy	BAXTER INTL INC	$5,388,000	+18.1%	67,000	+26.4%	0.98%	+14.7%
AXTA	Sell	AXALTA COATING SYS LTD	$5,299,000	-2.1%	239,000	-0.4%	0.96%	-4.9%
JNJ	Buy	JOHNSON & JOHNSON	$5,062,000	+38.5%	34,000	+30.8%	0.92%	+34.4%
DLTR	Buy	DOLLAR TREE INC	$5,024,000	+10.6%	55,000	+12.2%	0.91%	+7.4%
DENN	Buy	DENNYS CORP	$4,815,000	+0.5%	481,453	+1.5%	0.87%	-2.5%
MCO	Sell	MOODYS CORP	$4,348,000	-16.7%	15,000	-21.1%	0.79%	-19.2%
LOW	Sell	LOWES COS INC	$4,312,000	+6.4%	26,000	-13.3%	0.78%	+3.3%
SSNC	New	SS&C TECHNOLOGIES HLDGS INC	$4,297,000	–	71,000	–	0.78%	–
SLB	Buy	SCHLUMBERGER LTD	$4,263,000	+1.2%	274,000	+19.7%	0.77%	-1.8%
ADP	Buy	AUTOMATIC DATA PROCESSING IN	$4,185,000	+56.2%	30,000	+66.7%	0.76%	+51.5%
CAT	Sell	CATERPILLAR INC DEL	$4,176,000	-10.8%	28,000	-24.3%	0.76%	-13.5%
DIN	Sell	DINEEQUITY INC	$4,137,000	-25.0%	75,788	-42.1%	0.75%	-27.2%
MA	Sell	MASTERCARD INCcl a	$4,058,000	-14.2%	12,000	-25.0%	0.74%	-16.7%
SEAS	Sell	SEAWORLD ENTMT INC	$4,032,000	-27.0%	204,463	-45.2%	0.73%	-29.2%
APTV	Sell	APTIV PLC	$4,034,000	+10.2%	44,000	-6.4%	0.73%	+6.9%
EMN	Sell	EASTMAN CHEM CO	$3,984,000	-31.1%	51,000	-38.6%	0.72%	-33.1%
IR	Sell	INGERSOLL RAND INC	$3,952,000	+23.3%	111,000	-2.6%	0.72%	+19.7%
DAL	Sell	DELTA AIR LINES INC DEL	$3,853,000	-13.1%	126,000	-20.3%	0.70%	-15.6%
RTX	Buy	RAYTHEON TECHNOLOGIES CORP	$3,683,000	+19.5%	64,000	+28.0%	0.67%	+16.0%
TXN	Sell	TEXAS INSTRS INC	$3,427,000	-6.9%	24,000	-17.2%	0.62%	-9.7%
LFUS	Sell	LITTELFUSE INC	$3,121,000	-18.5%	17,600	-21.6%	0.57%	-20.9%
MMC	Sell	MARSH & MCLENNAN COS INC	$3,097,000	-15.2%	27,000	-20.6%	0.56%	-17.6%
MSFT	Sell	MICROSOFT CORP	$2,987,000	-3.4%	14,200	-6.6%	0.54%	-6.2%
ACN	Buy	ACCENTURE PLC IRELAND	$2,938,000	+71.0%	13,000	+62.5%	0.53%	+66.0%
ZBRA	Sell	ZEBRA TECHNOLOGIES CORPcl a	$2,802,000	-44.1%	11,100	-43.4%	0.51%	-45.8%
ETN	Sell	EATON CORP PLC	$2,755,000	-7.4%	27,000	-20.6%	0.50%	-10.1%
CMI	Sell	CUMMINS INC	$2,745,000	-6.8%	13,000	-23.5%	0.50%	-9.5%
DHR	Sell	DANAHER CORP DEL	$2,584,000	-18.8%	12,000	-33.3%	0.47%	-21.2%
WNC	Sell	WABASH NATL CORP	$2,057,000	-5.9%	172,000	-16.5%	0.37%	-8.6%
IART	Buy	INTEGRA LIFESCIENCES HLDGS	$2,030,000	+20.0%	43,000	+19.4%	0.37%	+16.5%
SHYF	Sell	SHYFT GROUP INC	$2,007,000	-3.1%	106,312	-13.6%	0.36%	-5.9%
BLBD	Buy	BLUE BIRD CORP	$1,946,000	-3.9%	160,014	+18.4%	0.35%	-6.6%
PBH	Buy	PRESTIGE BRANDS HLDGS INC	$1,493,000	+7.4%	41,000	+10.8%	0.27%	+4.2%
CENTA	Sell	CENTRAL GARDEN & PET COcl a non-vtg	$1,373,000	+4.2%	38,000	-2.6%	0.25%	+1.2%
HOMB	Sell	HOME BANCSHARES INC	$1,319,000	-2.5%	87,000	-1.1%	0.24%	-5.5%
VSH	Buy	VISHAY INTERTECHNOLOGY INC	$1,121,000	+59.7%	72,000	+56.5%	0.20%	+55.0%
BIG	Buy	BIG LOTS INC	$1,115,000	+39.7%	25,000	+31.6%	0.20%	+35.6%
LCUT	Sell	LIFETIME BRANDS INC	$1,106,000	-0.9%	117,000	-29.5%	0.20%	-3.4%
FHB	Buy	FIRST HAWAIIAN INC	$1,027,000	+14.6%	71,000	+36.5%	0.19%	+11.4%
AGCO	Sell	AGCO CORP	$1,003,000	+29.3%	13,500	-3.6%	0.18%	+25.5%
DNOW	Buy	NOW INC	$799,000	-29.4%	176,000	+34.4%	0.14%	-31.3%
KFY	Buy	KORN FERRY	$725,000	+31.1%	25,000	+38.9%	0.13%	+27.2%
INS	New	INTELLIGENT SYS CORP NEW	$526,000	–	13,500	–	0.10%	–
LEVI	New	LEVI STRAUSS & CO NEW	$94,000	–	7,000	–	0.02%	–
HOLX	Exit	HOLOGIC INC	$0	–	-25,000	–	-0.27%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-7,000	–	-0.47%	–
RBC	Exit	REGAL-BELOIT CORP	$0	–	-43,964	–	-0.72%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-52,000	–	-0.87%	–

Q2 2020

			Value		Shares		↓ Weighting
GOOG	New	ALPHABET INCcap stk cl c	$11,733,000	–	8,300	–	2.19%	–
IVZ	New	INVESCO LTD	$11,438,000	–	1,063,000	–	2.14%	–
DISCK	New	DISCOVERY COMMUNICATIONS NEW	$10,362,000	–	538,000	–	1.94%	–
WBA	New	WALGREENS BOOTS ALLIANCE INC	$10,258,000	–	242,000	–	1.92%	–
AAPL	New	APPLE INC	$10,032,000	–	27,500	–	1.87%	–
CSCO	New	CISCO SYS INC	$9,888,000	–	212,000	–	1.85%	–
ZBH	New	ZIMMER HLDGS INC	$9,549,000	–	80,000	–	1.78%	–
BDX	New	BECTON DICKINSON & CO	$9,451,000	–	39,500	–	1.77%	–
CVS	New	CVS CAREMARK CORPORATION	$9,356,000	–	144,000	–	1.75%	–
INTC	New	INTEL CORP	$9,094,000	–	152,000	–	1.70%	–
GNRC	New	GENERAC HLDGS INC	$9,023,000	–	74,000	–	1.69%	–
CFG	New	CITIZENS FINL GROUP INC	$8,907,000	–	352,900	–	1.66%	–
GLW	New	CORNING INC	$8,806,000	–	340,000	–	1.64%	–
VIAC	New	VIACOMCBS INCcl b	$8,325,000	–	357,000	–	1.56%	–
FDX	New	FEDEX CORP	$8,133,000	–	58,000	–	1.52%	–
WRK	New	WESTROCK CO	$8,111,000	–	287,000	–	1.52%	–
OMC	New	OMNICOM GROUP INC	$8,081,000	–	148,000	–	1.51%	–
WCC	New	WESCO INTL INC	$8,005,000	–	228,000	–	1.50%	–
MDT	New	MEDTRONIC PLC	$7,886,000	–	86,000	–	1.47%	–
DIS	New	DISNEY WALT CO	$7,873,000	–	70,600	–	1.47%	–
GS	New	GOLDMAN SACHS GROUP INC	$7,707,000	–	39,000	–	1.44%	–
MIDD	New	MIDDLEBY CORP	$7,681,000	–	97,300	–	1.44%	–
WFC	New	WELLS FARGO CO NEW	$7,475,000	–	292,000	–	1.40%	–
FB	New	FACEBOOK INCcl a	$6,903,000	–	30,400	–	1.29%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$6,893,000	–	62,000	–	1.29%	–
UNH	New	UNITEDHEALTH GROUP INC	$6,784,000	–	23,000	–	1.27%	–
CTVA	New	CORTEVA INC	$6,767,000	–	252,600	–	1.26%	–
EBAY	New	EBAY INC	$6,766,000	–	129,000	–	1.26%	–
KEYS	New	KEYSIGHT TECHNOLOGIES INC	$6,692,000	–	66,400	–	1.25%	–
UHS	New	UNIVERSAL HLTH SVCS INCcl b	$6,595,000	–	71,000	–	1.23%	–
CMCSA	New	COMCAST CORP NEWcl a	$6,549,000	–	168,000	–	1.22%	–
GBX	New	GREENBRIER COS INC	$6,416,000	–	282,000	–	1.20%	–
DD	New	DUPONT DE NEMOURS INC	$6,376,000	–	120,000	–	1.19%	–
TPR	New	TAPESTRY INC	$6,228,000	–	469,000	–	1.16%	–
GM	New	GENERAL MTRS CO	$6,173,000	–	244,000	–	1.15%	–
KLIC	New	KULICKE & SOFFA INDS INC	$6,145,000	–	295,000	–	1.15%	–
CBRL	New	CRACKER BARREL OLD CTRY STOR	$5,989,000	–	54,000	–	1.12%	–
EFX	New	EQUIFAX INC	$5,930,000	–	34,500	–	1.11%	–
WDC	New	WESTERN DIGITAL CORP	$5,872,000	–	133,000	–	1.10%	–
TRV	New	TRAVELERS COMPANIES INC	$5,817,000	–	51,000	–	1.09%	–
EMN	New	EASTMAN CHEM CO	$5,780,000	–	83,000	–	1.08%	–
MCD	New	MCDONALDS CORP	$5,719,000	–	31,000	–	1.07%	–
USB	New	US BANCORP DEL	$5,597,000	–	152,000	–	1.05%	–
MHK	New	MOHAWK INDS INC	$5,597,000	–	55,000	–	1.05%	–
FITB	New	FIFTH THIRD BANCORP	$5,553,000	–	288,000	–	1.04%	–
SEAS	New	SEAWORLD ENTMT INC	$5,523,000	–	372,900	–	1.03%	–
DIN	New	DINEEQUITY INC	$5,515,000	–	131,000	–	1.03%	–
AXP	New	AMERICAN EXPRESS CO	$5,426,000	–	57,000	–	1.01%	–
AXTA	New	AXALTA COATING SYS LTD	$5,412,000	–	240,000	–	1.01%	–
ORCL	New	ORACLE CORP	$5,251,000	–	95,000	–	0.98%	–
MCO	New	MOODYS CORP	$5,220,000	–	19,000	–	0.98%	–
ZBRA	New	ZEBRA TECHNOLOGIES CORPcl a	$5,017,000	–	19,600	–	0.94%	–
BKNG	New	BOOKING HLDGS INC	$4,936,000	–	3,100	–	0.92%	–
JBLU	New	JETBLUE AIRWAYS CORP	$4,825,000	–	442,700	–	0.90%	–
PB	New	PROSPERITY BANCSHARES INC	$4,816,000	–	81,100	–	0.90%	–
DENN	New	DENNYS CORP	$4,792,000	–	474,453	–	0.90%	–
MA	New	MASTERCARD INCcl a	$4,731,000	–	16,000	–	0.88%	–
CAT	New	CATERPILLAR INC DEL	$4,681,000	–	37,000	–	0.88%	–
CVX	New	CHEVRON CORP NEW	$4,640,000	–	52,000	–	0.87%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$4,641,000	–	26,000	–	0.87%	–
V	New	VISA INC	$4,636,000	–	24,000	–	0.87%	–
BAX	New	BAXTER INTL INC	$4,563,000	–	53,000	–	0.85%	–
DLTR	New	DOLLAR TREE INC	$4,541,000	–	49,000	–	0.85%	–
ST	New	SENSATA TECHNOLOGIES HLDNG P	$4,441,000	–	119,277	–	0.83%	–
DAL	New	DELTA AIR LINES INC DEL	$4,432,000	–	158,000	–	0.83%	–
SLB	New	SCHLUMBERGER LTD	$4,211,000	–	229,000	–	0.79%	–
LOW	New	LOWES COS INC	$4,054,000	–	30,000	–	0.76%	–
CARR	New	CARRIER GLOBAL CORPORATION	$4,022,000	–	181,000	–	0.75%	–
RBC	New	REGAL-BELOIT CORP	$3,839,000	–	43,964	–	0.72%	–
LFUS	New	LITTELFUSE INC	$3,831,000	–	22,450	–	0.72%	–
WLTW	New	WILLIS TOWERS WATSON PUB LTD	$3,742,000	–	19,000	–	0.70%	–
TXN	New	TEXAS INSTRS INC	$3,682,000	–	29,000	–	0.69%	–
APTV	New	APTIV PLC	$3,662,000	–	47,000	–	0.68%	–
JNJ	New	JOHNSON & JOHNSON	$3,656,000	–	26,000	–	0.68%	–
MMC	New	MARSH & MCLENNAN COS INC	$3,651,000	–	34,000	–	0.68%	–
SPGI	New	S&P GLOBAL INC	$3,624,000	–	11,000	–	0.68%	–
IR	New	INGERSOLL RAND INC	$3,206,000	–	114,000	–	0.60%	–
DHR	New	DANAHER CORP DEL	$3,183,000	–	18,000	–	0.60%	–
MSFT	New	MICROSOFT CORP	$3,093,000	–	15,200	–	0.58%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$3,081,000	–	50,000	–	0.58%	–
ETN	New	EATON CORP PLC	$2,974,000	–	34,000	–	0.56%	–
CMI	New	CUMMINS INC	$2,945,000	–	17,000	–	0.55%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$2,680,000	–	18,000	–	0.50%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$2,536,000	–	7,000	–	0.47%	–
SNA	New	SNAP ON INC	$2,493,000	–	18,000	–	0.47%	–
WNC	New	WABASH NATL CORP	$2,186,000	–	205,871	–	0.41%	–
SHYF	New	SHYFT GROUP INC	$2,071,000	–	123,000	–	0.39%	–
BLBD	New	BLUE BIRD CORP	$2,025,000	–	135,121	–	0.38%	–
AON	New	AON PLC	$1,733,000	–	9,000	–	0.32%	–
ACN	New	ACCENTURE PLC IRELAND	$1,718,000	–	8,000	–	0.32%	–
IART	New	INTEGRA LIFESCIENCES HLDGS	$1,692,000	–	36,000	–	0.32%	–
HOLX	New	HOLOGIC INC	$1,425,000	–	25,000	–	0.27%	–
PBH	New	PRESTIGE BRANDS HLDGS INC	$1,390,000	–	37,000	–	0.26%	–
HOMB	New	HOME BANCSHARES INC	$1,353,000	–	88,000	–	0.25%	–
CENTA	New	CENTRAL GARDEN & PET COcl a non-vtg	$1,318,000	–	39,000	–	0.25%	–
DNOW	New	NOW INC	$1,131,000	–	131,000	–	0.21%	–
LCUT	New	LIFETIME BRANDS INC	$1,116,000	–	166,000	–	0.21%	–
MLR	New	MILLER INDS INC TENN	$998,000	–	33,523	–	0.19%	–
FHB	New	FIRST HAWAIIAN INC	$896,000	–	52,000	–	0.17%	–
FSS	New	FEDERAL SIGNAL CORP	$862,000	–	29,000	–	0.16%	–
BIG	New	BIG LOTS INC	$798,000	–	19,000	–	0.15%	–
AGCO	New	AGCO CORP	$776,000	–	14,000	–	0.14%	–
VSH	New	VISHAY INTERTECHNOLOGY INC	$702,000	–	46,000	–	0.13%	–
KFY	New	KORN FERRY	$553,000	–	18,000	–	0.10%	–

Q4 2019

			Value		Shares		↓ Weighting
IART	Exit	INTEGRA LIFESCIENCES HLDGS	$0	–	-9,000	–	-0.08%	–
VSH	Exit	VISHAY INTERTECHNOLOGY INC	$0	–	-35,000	–	-0.09%	–
DENN	Exit	DENNYS CORP	$0	–	-40,000	–	-0.14%	–
BKNG	Exit	BOOKING HLDGS INC	$0	–	-500	–	-0.15%	–
FSS	Exit	FEDERAL SIGNAL CORP	$0	–	-32,000	–	-0.16%	–
MLR	Exit	MILLER INDS INC TENN	$0	–	-38,800	–	-0.20%	–
HAIN	Exit	HAIN CELESTIAL GROUP INC	$0	–	-69,000	–	-0.23%	–
LDL	Exit	LYDALL INC DEL	$0	–	-60,000	–	-0.23%	–
PKOH	Exit	PARK OHIO HLDGS CORP	$0	–	-51,000	–	-0.24%	–
HOMB	Exit	HOME BANCSHARES INC	$0	–	-85,000	–	-0.25%	–
BIG	Exit	BIG LOTS INC	$0	–	-78,000	–	-0.30%	–
LCUT	Exit	LIFETIME BRANDS INC	$0	–	-226,223	–	-0.31%	–
WNC	Exit	WABASH NATL CORP	$0	–	-148,000	–	-0.34%	–
BLBD	Exit	BLUE BIRD CORP	$0	–	-128,000	–	-0.38%	–
PBH	Exit	PRESTIGE BRANDS HLDGS INC	$0	–	-77,000	–	-0.42%	–
SPAR	Exit	SPARTAN MTRS INC	$0	–	-200,000	–	-0.43%	–
SKX	Exit	SKECHERS U S A INCcl a	$0	–	-75,605	–	-0.44%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-25,100	–	-0.46%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-13,000	–	-0.47%	–
CENTA	Exit	CENTRAL GARDEN & PET COcl a non-vtg	$0	–	-109,000	–	-0.47%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-21,000	–	-0.47%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-10,500	–	-0.48%	–
BEN	Exit	FRANKLIN RES INC	$0	–	-114,000	–	-0.51%	–
AGCO	Exit	AGCO CORP	$0	–	-43,700	–	-0.52%	–
BAX	Exit	BAXTER INTL INC	$0	–	-41,000	–	-0.56%	–
CTVA	Exit	CORTEVA INC	$0	–	-134,999	–	-0.59%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-16,000	–	-0.61%	–
BBT	Exit	BB&T CORP	$0	–	-75,000	–	-0.63%	–
MCD	Exit	MCDONALDS CORP	$0	–	-19,000	–	-0.64%	–
KEYS	Exit	KEYSIGHT TECHNOLOGIES INC	$0	–	-42,000	–	-0.64%	–
MIDD	Exit	MIDDLEBY CORP	$0	–	-35,000	–	-0.64%	–
DLTR	Exit	DOLLAR TREE INC	$0	–	-37,000	–	-0.66%	–
AON	Exit	AON PLC	$0	–	-22,000	–	-0.67%	–
MMC	Exit	MARSH & MCLENNAN COS INC	$0	–	-42,800	–	-0.67%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-16,000	–	-0.68%	–
CBRL	Exit	CRACKER BARREL OLD CTRY STOR	$0	–	-26,900	–	-0.68%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-37,000	–	-0.69%	–
LOW	Exit	LOWES COS INC	$0	–	-40,000	–	-0.69%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-63,000	–	-0.70%	–
V	Exit	VISA INC	$0	–	-26,000	–	-0.70%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-99,000	–	-0.70%	–
TRV	Exit	TRAVELERS COMPANIES INC	$0	–	-30,400	–	-0.71%	–
ORCL	Exit	ORACLE CORP	$0	–	-83,000	–	-0.71%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-33,000	–	-0.72%	–
UHS	Exit	UNIVERSAL HLTH SVCS INCcl b	$0	–	-31,000	–	-0.72%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-36,000	–	-0.73%	–
PH	Exit	PARKER HANNIFIN CORP	$0	–	-26,000	–	-0.73%	–
CMI	Exit	CUMMINS INC	$0	–	-29,000	–	-0.74%	–
SNA	Exit	SNAP ON INC	$0	–	-30,600	–	-0.75%	–
LFUS	Exit	LITTELFUSE INC	$0	–	-28,000	–	-0.78%	–
DD	Exit	DUPONT DE NEMOURS INC	$0	–	-70,000	–	-0.78%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-152,000	–	-0.81%	–
DOW	Exit	DOW INC	$0	–	-110,000	–	-0.82%	–
ETN	Exit	EATON CORP PLC	$0	–	-64,000	–	-0.83%	–
AAPL	Exit	APPLE INC	$0	–	-24,000	–	-0.84%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-43,000	–	-0.85%	–
FITB	Exit	FIFTH THIRD BANCORP	$0	–	-203,000	–	-0.87%	–
EFX	Exit	EQUIFAX INC	$0	–	-40,400	–	-0.89%	–
RBC	Exit	REGAL-BELOIT CORP	$0	–	-78,900	–	-0.90%	–
WLTW	Exit	WILLIS TOWERS WATSON PUB LTD	$0	–	-30,000	–	-0.90%	–
JBLU	Exit	JETBLUE AIRWAYS CORP	$0	–	-346,100	–	-0.91%	–
APTV	Exit	APTIV PLC	$0	–	-67,000	–	-0.92%	–
PKG	Exit	PACKAGING CORP AMER	$0	–	-56,000	–	-0.93%	–
GM	Exit	GENERAL MTRS CO	$0	–	-159,400	–	-0.93%	–
GLW	Exit	CORNING INC	$0	–	-210,000	–	-0.94%	–
EBAY	Exit	EBAY INC	$0	–	-158,300	–	-0.96%	–
SAVE	Exit	SPIRIT AIRLS INC	$0	–	-175,700	–	-1.00%	–
MCO	Exit	MOODYS CORP	$0	–	-31,200	–	-1.00%	–
GDI	Exit	GARDNER DENVER HLDGS INC	$0	–	-226,600	–	-1.00%	–
AXTA	Exit	AXALTA COATING SYS LTD	$0	–	-217,000	–	-1.02%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-45,000	–	-1.02%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-147,000	–	-1.04%	–
PRU	Exit	PRUDENTIAL FINL INC	$0	–	-74,000	–	-1.04%	–
DIN	Exit	DINEEQUITY INC	$0	–	-89,000	–	-1.06%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-5,600	–	-1.07%	–
BWA	Exit	BORGWARNER INC	$0	–	-187,000	–	-1.07%	–
NCLH	Exit	NORWEGIAN CRUISE LINE HLDG L	$0	–	-133,000	–	-1.08%	–
CSCO	Exit	CISCO SYS INC	$0	–	-140,192	–	-1.08%	–
SEAS	Exit	SEAWORLD ENTMT INC	$0	–	-273,000	–	-1.12%	–
DAL	Exit	DELTA AIR LINES INC DEL	$0	–	-125,000	–	-1.13%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-121,100	–	-1.13%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-54,000	–	-1.15%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-36,500	–	-1.18%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-97,000	–	-1.19%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-35,000	–	-1.19%	–
DIS	Exit	DISNEY WALT CO	$0	–	-58,600	–	-1.19%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-152,000	–	-1.20%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-65,000	–	-1.22%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-31,000	–	-1.23%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-74,000	–	-1.26%	–
PB	Exit	PROSPERITY BANCSHARES INC	$0	–	-118,000	–	-1.30%	–
EMN	Exit	EASTMAN CHEM CO	$0	–	-113,000	–	-1.30%	–
USB	Exit	US BANCORP DEL	$0	–	-152,000	–	-1.32%	–
LM	Exit	LEGG MASON INC	$0	–	-222,200	–	-1.33%	–
FDX	Exit	FEDEX CORP	$0	–	-59,000	–	-1.34%	–
TPR	Exit	TAPESTRY INC	$0	–	-345,000	–	-1.40%	–
VIAB	Exit	VIACOM INC NEWcl b	$0	–	-377,000	–	-1.42%	–
KLIC	Exit	KULICKE & SOFFA INDS INC	$0	–	-387,500	–	-1.42%	–
IVZ	Exit	INVESCO LTD	$0	–	-540,000	–	-1.43%	–
ZBRA	Exit	ZEBRA TECHNOLOGIES CORPcl a	$0	–	-44,500	–	-1.44%	–
INTC	Exit	INTEL CORP	$0	–	-180,000	–	-1.45%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE INC	$0	–	-171,000	–	-1.48%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-124,000	–	-1.52%	–
GBX	Exit	GREENBRIER COS INC	$0	–	-325,300	–	-1.53%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-79,000	–	-1.53%	–
WRK	Exit	WESTROCK CO	$0	–	-288,000	–	-1.64%	–
ST	Exit	SENSATA TECHNOLOGIES HLDNG P	$0	–	-216,000	–	-1.69%	–
ZBH	Exit	ZIMMER HLDGS INC	$0	–	-80,400	–	-1.73%	–
WCC	Exit	WESCO INTL INC	$0	–	-235,727	–	-1.76%	–
CFG	Exit	CITIZENS FINL GROUP INC	$0	–	-325,450	–	-1.80%	–
CVS	Exit	CVS CAREMARK CORPORATION	$0	–	-186,300	–	-1.84%	–
DISCK	Exit	DISCOVERY COMMUNICATIONS NEW	$0	–	-534,000	–	-2.06%	–

Q3 2019

			Value		Shares		↓ Weighting
DISCK	Buy	DISCOVERY COMMUNICATIONS NEW	$13,147,000	-4.5%	534,000	+10.4%	2.06%	-7.8%
CVS	Buy	CVS CAREMARK CORPORATION	$11,750,000	+17.8%	186,300	+1.8%	1.84%	+13.7%
CFG	Sell	CITIZENS FINL GROUP INC	$11,511,000	+0.0%	325,450	-0.0%	1.80%	-3.4%
WCC	Buy	WESCO INTL INC	$11,261,000	+31.8%	235,727	+39.7%	1.76%	+27.2%
ZBH	Sell	ZIMMER HLDGS INC	$11,037,000	-12.4%	80,400	-24.9%	1.73%	-15.4%
ST	Sell	SENSATA TECHNOLOGIES HLDNG P	$10,813,000	+0.8%	216,000	-1.3%	1.69%	-2.6%
WRK	Buy	WESTROCK CO	$10,498,000	+2.0%	288,000	+2.1%	1.64%	-1.5%
MHK	Buy	MOHAWK INDS INC	$9,802,000	+19.8%	79,000	+42.3%	1.53%	+15.6%
GBX	Buy	GREENBRIER COS INC	$9,798,000	+33.2%	325,300	+34.4%	1.53%	+28.5%
GNRC	Buy	GENERAC HLDGS INC	$9,714,000	+35.9%	124,000	+20.4%	1.52%	+31.2%
WBA	Buy	WALGREENS BOOTS ALLIANCE INC	$9,458,000	+7.5%	171,000	+6.2%	1.48%	+3.7%
INTC	Buy	INTEL CORP	$9,275,000	+10.1%	180,000	+2.3%	1.45%	+6.3%
ZBRA	Buy	ZEBRA TECHNOLOGIES CORPcl a	$9,183,000	+29.7%	44,500	+31.7%	1.44%	+25.2%
IVZ	Buy	INVESCO LTD	$9,148,000	+7.7%	540,000	+30.1%	1.43%	+4.1%
KLIC	Sell	KULICKE & SOFFA INDS INC	$9,099,000	-7.5%	387,500	-11.1%	1.42%	-10.6%
VIAB	Buy	VIACOM INC NEWcl b	$9,059,000	+0.4%	377,000	+24.8%	1.42%	-3.0%
TPR	Buy	TAPESTRY INC	$8,987,000	+27.6%	345,000	+55.4%	1.40%	+23.1%
FDX	Buy	FEDEX CORP	$8,589,000	-6.6%	59,000	+5.4%	1.34%	-9.8%
LM	Sell	LEGG MASON INC	$8,486,000	-2.6%	222,200	-2.4%	1.33%	-6.0%
EMN	Buy	EASTMAN CHEM CO	$8,343,000	+4.3%	113,000	+9.9%	1.30%	+0.7%
PB	Sell	PROSPERITY BANCSHARES INC	$8,334,000	+3.0%	118,000	-3.7%	1.30%	-0.5%
BDX	Sell	BECTON DICKINSON & CO	$7,842,000	-11.1%	31,000	-11.4%	1.23%	-14.1%
UPS	Sell	UNITED PARCEL SERVICE INCcl b	$7,788,000	+0.6%	65,000	-13.3%	1.22%	-2.9%
WFC	Buy	WELLS FARGO CO NEW	$7,667,000	+8.0%	152,000	+1.3%	1.20%	+4.3%
DIS	Buy	DISNEY WALT CO	$7,637,000	+25.4%	58,600	+34.4%	1.19%	+21.1%
UNH	Buy	UNITEDHEALTH GROUP INC	$7,606,000	+11.3%	35,000	+25.0%	1.19%	+7.5%
OMC	Sell	OMNICOM GROUP INC	$7,595,000	-12.6%	97,000	-8.5%	1.19%	-15.6%
WDC	Sell	WESTERN DIGITAL CORP	$7,222,000	-19.6%	121,100	-35.9%	1.13%	-22.4%
DAL	Sell	DELTA AIR LINES INC DEL	$7,200,000	-13.0%	125,000	-14.3%	1.13%	-16.0%
SEAS	Sell	SEAWORLD ENTMT INC	$7,185,000	-16.9%	273,000	-2.2%	1.12%	-19.8%
CSCO	Buy	CISCO SYS INC	$6,927,000	+17.2%	140,192	+29.8%	1.08%	+13.2%
NCLH	Buy	NORWEGIAN CRUISE LINE HLDG L	$6,885,000	+35.1%	133,000	+40.0%	1.08%	+30.5%
BWA	Buy	BORGWARNER INC	$6,859,000	+2.8%	187,000	+17.6%	1.07%	-0.7%
DIN	Buy	DINEEQUITY INC	$6,752,000	+194.7%	89,000	+270.8%	1.06%	+184.6%
PRU	Buy	PRUDENTIAL FINL INC	$6,656,000	+11.7%	74,000	+25.4%	1.04%	+7.9%
CMCSA	Buy	COMCAST CORP NEWcl a	$6,627,000	+8.9%	147,000	+2.2%	1.04%	+5.2%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$6,544,000	-1.1%	45,000	-6.2%	1.02%	-4.6%
AXTA	Sell	AXALTA COATING SYS LTD	$6,543,000	-1.4%	217,000	-2.7%	1.02%	-4.8%
GDI	Buy	GARDNER DENVER HLDGS INC	$6,411,000	-16.2%	226,600	+2.5%	1.00%	-19.0%
MCO	Sell	MOODYS CORP	$6,391,000	-16.1%	31,200	-20.0%	1.00%	-19.0%
SAVE	Buy	SPIRIT AIRLS INC	$6,378,000	+301.4%	175,700	+427.6%	1.00%	+287.9%
EBAY	Sell	EBAY INC	$6,171,000	-6.5%	158,300	-5.2%	0.96%	-9.6%
GLW	Buy	CORNING INC	$5,989,000	+17.0%	210,000	+36.4%	0.94%	+13.0%
GM	Sell	GENERAL MTRS CO	$5,974,000	-6.6%	159,400	-4.0%	0.93%	-9.8%
PKG	Sell	PACKAGING CORP AMER	$5,942,000	-4.1%	56,000	-13.8%	0.93%	-7.4%
APTV	Sell	APTIV PLC	$5,857,000	-11.6%	67,000	-18.3%	0.92%	-14.6%
JBLU	Buy	JETBLUE AIRWAYS CORP	$5,797,000	-8.1%	346,100	+1.5%	0.91%	-11.2%
WLTW	Sell	WILLIS TOWERS WATSON PUB LTD	$5,789,000	-2.5%	30,000	-3.2%	0.90%	-5.9%
EFX	Sell	EQUIFAX INC	$5,683,000	-2.3%	40,400	-6.0%	0.89%	-5.6%
CAT	Buy	CATERPILLAR INC DEL	$5,431,000	+10.7%	43,000	+19.4%	0.85%	+6.8%
AAPL	Buy	APPLE INC	$5,375,000	+35.8%	24,000	+20.0%	0.84%	+31.2%
ETN	Sell	EATON CORP PLC	$5,322,000	-15.9%	64,000	-15.8%	0.83%	-18.8%
DOW	Buy	DOW INC	$5,242,000	+15.5%	110,000	+19.6%	0.82%	+11.6%
SLB	Buy	SCHLUMBERGER LTD	$5,194,000	+4.5%	152,000	+21.6%	0.81%	+0.9%
DD	Buy	DUPONT DE NEMOURS INC	$4,992,000	+10.8%	70,000	+16.7%	0.78%	+7.1%
LFUS	Buy	LITTELFUSE INC	$4,965,000	+31.8%	28,000	+31.5%	0.78%	+27.2%
SNA	Buy	SNAP ON INC	$4,790,000	+15.2%	30,600	+21.9%	0.75%	+11.3%
CMI	Sell	CUMMINS INC	$4,717,000	-9.7%	29,000	-4.9%	0.74%	-12.8%
PH	Sell	PARKER HANNIFIN CORP	$4,696,000	-0.6%	26,000	-6.5%	0.73%	-4.1%
TXN	Sell	TEXAS INSTRS INC	$4,653,000	-22.8%	36,000	-31.4%	0.73%	-25.4%
UHS	Sell	UNIVERSAL HLTH SVCS INCcl b	$4,611,000	+7.2%	31,000	-6.1%	0.72%	+3.4%
ORCL	Sell	ORACLE CORP	$4,567,000	-9.9%	83,000	-6.7%	0.71%	-13.0%
V	Sell	VISA INC	$4,472,000	-4.6%	26,000	-3.7%	0.70%	-7.9%
XOM	Buy	EXXON MOBIL CORP	$4,448,000	+8.5%	63,000	+17.8%	0.70%	+4.8%
LOW	Sell	LOWES COS INC	$4,398,000	-14.5%	40,000	-21.6%	0.69%	-17.4%
CVX	Buy	CHEVRON CORP NEW	$4,388,000	+0.8%	37,000	+5.7%	0.69%	-2.7%
MA	Sell	MASTERCARD INCcl a	$4,345,000	-3.4%	16,000	-5.9%	0.68%	-6.7%
MMC	Sell	MARSH & MCLENNAN COS INC	$4,282,000	-4.2%	42,800	-4.5%	0.67%	-7.5%
AON	Sell	AON PLC	$4,259,000	-4.1%	22,000	-4.3%	0.67%	-7.4%
DLTR	Buy	DOLLAR TREE INC	$4,224,000	+26.9%	37,000	+19.4%	0.66%	+22.6%
MIDD	New	MIDDLEBY CORP	$4,092,000	–	35,000	–	0.64%	–
KEYS	Sell	KEYSIGHT TECHNOLOGIES INC	$4,085,000	-37.8%	42,000	-42.6%	0.64%	-39.9%
MCD	Sell	MCDONALDS CORP	$4,079,000	-21.4%	19,000	-24.0%	0.64%	-24.1%
CTVA	New	CORTEVA INC	$3,780,000	–	134,999	–	0.59%	–
AGCO	Buy	AGCO CORP	$3,308,000	+4.0%	43,700	+6.6%	0.52%	+0.4%
BEN	Buy	FRANKLIN RES INC	$3,290,000	+6.2%	114,000	+28.1%	0.51%	+2.4%
CENTA	Sell	CENTRAL GARDEN & PET COcl a non-vtg	$3,022,000	+11.5%	109,000	-0.9%	0.47%	+7.7%
LRCX	Sell	LAM RESEARCH CORP	$3,004,000	-30.5%	13,000	-43.5%	0.47%	-32.9%
SKX	Sell	SKECHERS U S A INCcl a	$2,824,000	-25.3%	75,605	-37.0%	0.44%	-27.8%
SPAR	Sell	SPARTAN MTRS INC	$2,744,000	-11.5%	200,000	-29.3%	0.43%	-14.5%
PBH	Sell	PRESTIGE BRANDS HLDGS INC	$2,671,000	-14.8%	77,000	-22.2%	0.42%	-17.7%
BLBD	Buy	BLUE BIRD CORP	$2,436,000	-2.6%	128,000	+0.8%	0.38%	-5.9%
WNC	Sell	WABASH NATL CORP	$2,147,000	-14.3%	148,000	-3.9%	0.34%	-17.2%
LCUT	Buy	LIFETIME BRANDS INC	$2,002,000	-4.0%	226,223	+2.6%	0.31%	-7.4%
BIG	Buy	BIG LOTS INC	$1,911,000	+36.3%	78,000	+59.2%	0.30%	+31.7%
PKOH	Buy	PARK OHIO HLDGS CORP	$1,523,000	-6.6%	51,000	+2.0%	0.24%	-9.8%
HAIN	Buy	HAIN CELESTIAL GROUP INC	$1,482,000	+4.1%	69,000	+6.2%	0.23%	+0.4%
MLR	Sell	MILLER INDS INC TENN	$1,292,000	-2.3%	38,800	-9.8%	0.20%	-5.6%
FSS	Sell	FEDERAL SIGNAL CORP	$1,048,000	-6.8%	32,000	-23.8%	0.16%	-9.9%
BKNG	New	BOOKING HLDGS INC	$981,000	–	500	–	0.15%	–
DENN	Sell	DENNYS CORP	$911,000	-27.2%	40,000	-34.4%	0.14%	-30.0%
VSH	New	VISHAY INTERTECHNOLOGY INC	$593,000	–	35,000	–	0.09%	–
IART	Buy	INTEGRA LIFESCIENCES HLDGS	$541,000	+21.0%	9,000	+12.5%	0.08%	+18.1%
SBUX	Exit	STARBUCKS CORP	$0	–	-13,000	–	-0.18%	–
JHG	Exit	JANUS HENDERSON GROUP PLC	$0	–	-86,000	–	-0.30%	–
HOLX	Exit	HOLOGIC INC	$0	–	-55,500	–	-0.43%	–

Q2 2019

			Value		Shares		↓ Weighting
DISCK	New	DISCOVERY COMMUNICATIONS NEW	$13,764,000	–	483,800	–	2.23%	–
ZBH	New	ZIMMER HLDGS INC	$12,598,000	–	107,000	–	2.04%	–
CFG	New	CITIZENS FINL GROUP INC	$11,510,000	–	325,500	–	1.86%	–
ST	New	SENSATA TECHNOLOGIES HLDNG P	$10,726,000	–	218,900	–	1.74%	–
WRK	New	WESTROCK CO	$10,292,000	–	282,200	–	1.67%	–
CVS	New	CVS CAREMARK CORPORATION	$9,972,000	–	183,000	–	1.62%	–
KLIC	New	KULICKE & SOFFA INDS INC	$9,832,000	–	436,000	–	1.59%	–
FDX	New	FEDEX CORP	$9,195,000	–	56,000	–	1.49%	–
VIAB	New	VIACOM INC NEWcl b	$9,021,000	–	302,000	–	1.46%	–
WDC	New	WESTERN DIGITAL CORP	$8,987,000	–	189,000	–	1.46%	–
BDX	New	BECTON DICKINSON & CO	$8,820,000	–	35,000	–	1.43%	–
WBA	New	WALGREENS BOOTS ALLIANCE INC	$8,802,000	–	161,000	–	1.43%	–
LM	New	LEGG MASON INC	$8,713,000	–	227,600	–	1.41%	–
OMC	New	OMNICOM GROUP INC	$8,687,000	–	106,000	–	1.41%	–
SEAS	New	SEAWORLD ENTMT INC	$8,649,000	–	279,000	–	1.40%	–
WCC	New	WESCO INTL INC	$8,545,000	–	168,700	–	1.38%	–
IVZ	New	INVESCO LTD	$8,491,000	–	415,000	–	1.38%	–
INTC	New	INTEL CORP	$8,425,000	–	176,000	–	1.36%	–
DAL	New	DELTA AIR LINES INC DEL	$8,279,000	–	145,884	–	1.34%	–
MHK	New	MOHAWK INDS INC	$8,185,000	–	55,500	–	1.33%	–
PB	New	PROSPERITY BANCSHARES INC	$8,091,000	–	122,500	–	1.31%	–
EMN	New	EASTMAN CHEM CO	$8,001,000	–	102,800	–	1.30%	–
USB	New	US BANCORP DEL	$7,965,000	–	152,000	–	1.29%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$7,745,000	–	75,000	–	1.25%	–
GDI	New	GARDNER DENVER HLDGS INC	$7,647,000	–	221,000	–	1.24%	–
MCO	New	MOODYS CORP	$7,617,000	–	39,000	–	1.23%	–
GS	New	GOLDMAN SACHS GROUP INC	$7,468,000	–	36,500	–	1.21%	–
GBX	New	GREENBRIER COS INC	$7,357,000	–	242,000	–	1.19%	–
MDT	New	MEDTRONIC PLC	$7,207,000	–	74,000	–	1.17%	–
GNRC	New	GENERAC HLDGS INC	$7,149,000	–	103,000	–	1.16%	–
WFC	New	WELLS FARGO CO NEW	$7,098,000	–	150,000	–	1.15%	–
ZBRA	New	ZEBRA TECHNOLOGIES CORPcl a	$7,081,000	–	33,800	–	1.15%	–
TPR	New	TAPESTRY INC	$7,044,000	–	222,000	–	1.14%	–
UTX	New	UNITED TECHNOLOGIES CORP	$7,031,000	–	54,000	–	1.14%	–
UNH	New	UNITEDHEALTH GROUP INC	$6,832,000	–	28,000	–	1.11%	–
BWA	New	BORGWARNER INC	$6,675,000	–	159,000	–	1.08%	–
AXTA	New	AXALTA COATING SYS LTD	$6,639,000	–	223,000	–	1.08%	–
APTV	New	APTIV PLC	$6,628,000	–	82,000	–	1.07%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$6,619,000	–	48,000	–	1.07%	–
EBAY	New	EBAY INC	$6,597,000	–	167,000	–	1.07%	–
KEYS	New	KEYSIGHT TECHNOLOGIES INC	$6,570,000	–	73,150	–	1.06%	–
RBC	New	REGAL-BELOIT CORP	$6,447,000	–	78,900	–	1.04%	–
GM	New	GENERAL MTRS CO	$6,396,000	–	166,000	–	1.04%	–
ETN	New	EATON CORP PLC	$6,329,000	–	76,000	–	1.02%	–
JBLU	New	JETBLUE AIRWAYS CORP	$6,305,000	–	341,000	–	1.02%	–
PKG	New	PACKAGING CORP AMER	$6,196,000	–	65,000	–	1.00%	–
DIS	New	DISNEY WALT CO	$6,088,000	–	43,600	–	0.99%	–
CMCSA	New	COMCAST CORP NEWcl a	$6,084,000	–	143,900	–	0.98%	–
GOOG	New	ALPHABET INCcap stk cl c	$6,053,000	–	5,600	–	0.98%	–
TXN	New	TEXAS INSTRS INC	$6,025,000	–	52,500	–	0.98%	–
PRU	New	PRUDENTIAL FINL INC	$5,959,000	–	59,000	–	0.96%	–
WLTW	New	WILLIS TOWERS WATSON PUB LTD	$5,938,000	–	31,000	–	0.96%	–
CSCO	New	CISCO SYS INC	$5,911,000	–	108,000	–	0.96%	–
EFX	New	EQUIFAX INC	$5,815,000	–	43,000	–	0.94%	–
FITB	New	FIFTH THIRD BANCORP	$5,664,000	–	203,000	–	0.92%	–
CMI	New	CUMMINS INC	$5,226,000	–	30,500	–	0.85%	–
MCD	New	MCDONALDS CORP	$5,192,000	–	25,000	–	0.84%	–
LOW	New	LOWES COS INC	$5,146,000	–	51,000	–	0.83%	–
GLW	New	CORNING INC	$5,117,000	–	154,000	–	0.83%	–
NCLH	New	NORWEGIAN CRUISE LINE HLDG L	$5,095,000	–	95,000	–	0.82%	–
ORCL	New	ORACLE CORP	$5,070,000	–	89,000	–	0.82%	–
SLB	New	SCHLUMBERGER LTD	$4,968,000	–	125,000	–	0.80%	–
CAT	New	CATERPILLAR INC DEL	$4,906,000	–	36,000	–	0.80%	–
PH	New	PARKER HANNIFIN CORP	$4,726,000	–	27,800	–	0.76%	–
V	New	VISA INC	$4,686,000	–	27,000	–	0.76%	–
CBRL	New	CRACKER BARREL OLD CTRY STOR	$4,593,000	–	26,900	–	0.74%	–
TRV	New	TRAVELERS COMPANIES INC	$4,545,000	–	30,400	–	0.74%	–
DOW	New	DOW INC	$4,537,000	–	92,000	–	0.74%	–
DD	New	DUPONT DE NEMOURS INC	$4,504,000	–	60,000	–	0.73%	–
MA	New	MASTERCARD INCcl a	$4,497,000	–	17,000	–	0.73%	–
MMC	New	MARSH & MCLENNAN COS INC	$4,469,000	–	44,800	–	0.72%	–
AON	New	AON PLC	$4,439,000	–	23,000	–	0.72%	–
MSFT	New	MICROSOFT CORP	$4,421,000	–	33,000	–	0.72%	–
BK	New	BANK NEW YORK MELLON CORP	$4,371,000	–	99,000	–	0.71%	–
CVX	New	CHEVRON CORP NEW	$4,355,000	–	35,000	–	0.70%	–
LRCX	New	LAM RESEARCH CORP	$4,320,000	–	23,000	–	0.70%	–
UHS	New	UNIVERSAL HLTH SVCS INCcl b	$4,303,000	–	33,000	–	0.70%	–
SNA	New	SNAP ON INC	$4,158,000	–	25,100	–	0.67%	–
XOM	New	EXXON MOBIL CORP	$4,100,000	–	53,500	–	0.66%	–
AAPL	New	APPLE INC	$3,958,000	–	20,000	–	0.64%	–
SKX	New	SKECHERS U S A INCcl a	$3,779,000	–	120,000	–	0.61%	–
LFUS	New	LITTELFUSE INC	$3,768,000	–	21,300	–	0.61%	–
BBT	New	BB&T CORP	$3,685,000	–	75,000	–	0.60%	–
SPGI	New	S&P GLOBAL INC	$3,645,000	–	16,000	–	0.59%	–
BAX	New	BAXTER INTL INC	$3,358,000	–	41,000	–	0.54%	–
DLTR	New	DOLLAR TREE INC	$3,329,000	–	31,000	–	0.54%	–
AGCO	New	AGCO CORP	$3,180,000	–	41,000	–	0.52%	–
PBH	New	PRESTIGE BRANDS HLDGS INC	$3,136,000	–	99,000	–	0.51%	–
SPAR	New	SPARTAN MTRS INC	$3,102,000	–	283,000	–	0.50%	–
AXP	New	AMERICAN EXPRESS CO	$3,098,000	–	25,100	–	0.50%	–
BEN	New	FRANKLIN RES INC	$3,097,000	–	89,000	–	0.50%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$3,084,000	–	10,500	–	0.50%	–
DHR	New	DANAHER CORP DEL	$3,001,000	–	21,000	–	0.49%	–
CENTA	New	CENTRAL GARDEN & PET COcl a non-vtg	$2,710,000	–	110,000	–	0.44%	–
HOLX	New	HOLOGIC INC	$2,665,000	–	55,500	–	0.43%	–
WNC	New	WABASH NATL CORP	$2,506,000	–	154,000	–	0.41%	–
BLBD	New	BLUE BIRD CORP	$2,501,000	–	127,000	–	0.40%	–
DIN	New	DINEEQUITY INC	$2,291,000	–	24,000	–	0.37%	–
LCUT	New	LIFETIME BRANDS INC	$2,086,000	–	220,551	–	0.34%	–
JHG	New	JANUS HENDERSON GROUP PLC	$1,840,000	–	86,000	–	0.30%	–
HOMB	New	HOME BANCSHARES INC	$1,637,000	–	85,000	–	0.26%	–
PKOH	New	PARK OHIO HLDGS CORP	$1,630,000	–	50,000	–	0.26%	–
SAVE	New	SPIRIT AIRLS INC	$1,589,000	–	33,300	–	0.26%	–
HAIN	New	HAIN CELESTIAL GROUP INC	$1,424,000	–	65,000	–	0.23%	–
BIG	New	BIG LOTS INC	$1,402,000	–	49,000	–	0.23%	–
MLR	New	MILLER INDS INC TENN	$1,322,000	–	43,000	–	0.21%	–
DENN	New	DENNYS CORP	$1,252,000	–	61,000	–	0.20%	–
LDL	New	LYDALL INC DEL	$1,212,000	–	60,000	–	0.20%	–
FSS	New	FEDERAL SIGNAL CORP	$1,124,000	–	42,000	–	0.18%	–
SBUX	New	STARBUCKS CORP	$1,090,000	–	13,000	–	0.18%	–
IART	New	INTEGRA LIFESCIENCES HLDGS	$447,000	–	8,000	–	0.07%	–

Q4 2018

			Value		Shares		↓ Weighting
NTUS	Exit	NATUS MEDICAL INC DEL	$0	–	-24,750	–	-0.12%	–
FLEX	Exit	FLEX LTDord	$0	–	-70,000	–	-0.12%	–
HELE	Exit	HELEN OF TROY CORP LTD	$0	–	-8,940	–	-0.16%	–
FSS	Exit	FEDERAL SIGNAL CORP	$0	–	-53,000	–	-0.19%	–
HOMB	Exit	HOME BANCSHARES INC	$0	–	-68,500	–	-0.20%	–
BLBD	Exit	BLUE BIRD CORP	$0	–	-62,210	–	-0.20%	–
DENN	Exit	DENNYS CORP	$0	–	-103,900	–	-0.20%	–
MLR	Exit	MILLER INDS INC TENN	$0	–	-59,485	–	-0.21%	–
BIG	Exit	BIG LOTS INC	$0	–	-40,800	–	-0.23%	–
PKOH	Exit	PARK OHIO HLDGS CORP	$0	–	-48,000	–	-0.25%	–
CMI	Exit	CUMMINS INC	$0	–	-13,000	–	-0.25%	–
CENTA	Exit	CENTRAL GARDEN & PET COcl a non-vtg	$0	–	-59,000	–	-0.26%	–
HRL	Exit	HORMEL FOODS CORP	$0	–	-51,000	–	-0.27%	–
JHG	Exit	JANUS HENDERSON GROUP PLC	$0	–	-82,100	–	-0.30%	–
HAIN	Exit	HAIN CELESTIAL GROUP INC	$0	–	-84,600	–	-0.31%	–
LCUT	Exit	LIFETIME BRANDS INC	$0	–	-215,000	–	-0.31%	–
DIN	Exit	DINEEQUITY INC	$0	–	-29,100	–	-0.32%	–
WNC	Exit	WABASH NATL CORP	$0	–	-131,000	–	-0.32%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-25,000	–	-0.38%	–
DNKN	Exit	DUNKIN BRANDS GROUP INC	$0	–	-39,300	–	-0.39%	–
SPAR	Exit	SPARTAN MTRS INC	$0	–	-209,400	–	-0.41%	–
BBT	Exit	BB&T CORP	$0	–	-64,000	–	-0.42%	–
MCO	Exit	MOODYS CORP	$0	–	-19,000	–	-0.42%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-26,500	–	-0.43%	–
CBRL	Exit	CRACKER BARREL OLD CTRY STOR	$0	–	-22,166	–	-0.44%	–
PG	Exit	PROCTOR & GAMBLE CO	$0	–	-41,000	–	-0.46%	–
HSIC	Exit	SCHEIN HENRY INC	$0	–	-40,800	–	-0.46%	–
BAX	Exit	BAXTER INTL INC	$0	–	-46,000	–	-0.48%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-16,000	–	-0.48%	–
PKG	Exit	PACKAGING CORP AMER	$0	–	-33,000	–	-0.48%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-43,000	–	-0.49%	–
MMC	Exit	MARSH & MCLENNAN COS INC	$0	–	-44,800	–	-0.50%	–
TPR	Exit	TAPESTRY INC	$0	–	-79,000	–	-0.53%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-18,000	–	-0.54%	–
PBH	Exit	PRESTIGE BRANDS HLDGS INC	$0	–	-111,305	–	-0.56%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-28,000	–	-0.57%	–
MCD	Exit	MCDONALDS CORP	$0	–	-26,000	–	-0.58%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-78,000	–	-0.59%	–
SJM	Exit	SMUCKER J M CO	$0	–	-44,000	–	-0.60%	–
BEN	Exit	FRANKLIN RES INC	$0	–	-150,222	–	-0.61%	–
AGCO	Exit	AGCO CORP	$0	–	-75,350	–	-0.61%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-43,000	–	-0.61%	–
APTV	Exit	APTIV PLC	$0	–	-59,264	–	-0.67%	–
UHS	Exit	UNIVERSAL HLTH SVCS INCcl b	$0	–	-39,000	–	-0.67%	–
HOLX	Exit	HOLOGIC INC	$0	–	-121,900	–	-0.67%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-19,000	–	-0.68%	–
SNA	Exit	SNAP ON INC	$0	–	-28,000	–	-0.69%	–
CASY	Exit	CASEYS GEN STORES INC	$0	–	-39,780	–	-0.69%	–
FITB	Exit	FIFTH THIRD BANCORP	$0	–	-184,000	–	-0.69%	–
SEE	Exit	SEALED AIR CORP NEW	$0	–	-130,000	–	-0.70%	–
V	Exit	VISA INC	$0	–	-35,000	–	-0.70%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-46,000	–	-0.70%	–
GLW	Exit	CORNING INC	$0	–	-152,000	–	-0.72%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-22,000	–	-0.72%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-50,000	–	-0.73%	–
GBX	Exit	GREENBRIER COS INC	$0	–	-91,550	–	-0.74%	–
TRV	Exit	TRAVELERS COMPANIES INC	$0	–	-44,500	–	-0.77%	–
LOW	Exit	LOWES COS INC	$0	–	-51,000	–	-0.78%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-39,400	–	-0.80%	–
SEAS	Exit	SEAWORLD ENTMT INC	$0	–	-192,850	–	-0.81%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-35,000	–	-0.82%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-125,000	–	-0.85%	–
AXTA	Exit	AXALTA COATING SYS LTD	$0	–	-222,799	–	-0.87%	–
BWA	Exit	BORGWARNER INC	$0	–	-154,000	–	-0.88%	–
ETN	Exit	EATON CORP PLC	$0	–	-76,000	–	-0.88%	–
DLPH	Exit	DELPHI TECHNOLOGIES PLC	$0	–	-210,450	–	-0.88%	–
COTY	Exit	COTY INC	$0	–	-528,000	–	-0.89%	–
SAVE	Exit	SPIRIT AIRLS INC	$0	–	-143,565	–	-0.90%	–
PH	Exit	PARKER HANNIFIN CORP	$0	–	-36,877	–	-0.91%	–
EMN	Exit	EASTMAN CHEM CO	$0	–	-71,000	–	-0.91%	–
GM	Exit	GENERAL MTRS CO	$0	–	-202,000	–	-0.91%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-64,000	–	-0.92%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-107,000	–	-0.92%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-70,920	–	-0.93%	–
FDX	Exit	FEDEX CORP	$0	–	-29,000	–	-0.94%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-50,000	–	-0.94%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-27,000	–	-0.94%	–
USB	Exit	US BANCORP DEL	$0	–	-135,000	–	-0.95%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-138,000	–	-0.97%	–
PRU	Exit	PRUDENTIAL FINL INC	$0	–	-73,000	–	-0.99%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-64,000	–	-1.00%	–
AON	Exit	AON PLC	$0	–	-48,700	–	-1.00%	–
JBLU	Exit	JETBLUE AIRWAYS CORP	$0	–	-389,000	–	-1.01%	–
RBC	Exit	REGAL-BELOIT CORP	$0	–	-93,680	–	-1.03%	–
ST	Exit	SENSATA TECHNOLOGIES HLDNG P	$0	–	-157,450	–	-1.04%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-140,000	–	-1.06%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-226,000	–	-1.07%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-54,000	–	-1.09%	–
PB	Exit	PROSPERITY BANCSHARES INC	$0	–	-118,950	–	-1.10%	–
COMM	Exit	COMMSCOPE HLDG CO INC	$0	–	-268,300	–	-1.10%	–
EBAY	Exit	EBAY INC	$0	–	-255,000	–	-1.13%	–
WLTW	Exit	WILLIS TOWERS WATSON PUB LTD	$0	–	-61,000	–	-1.15%	–
GDI	Exit	GARDNER DENVER HLDGS INC	$0	–	-304,250	–	-1.15%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-128,000	–	-1.17%	–
SKX	Exit	SKECHERS U S A INCcl a	$0	–	-313,550	–	-1.17%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-153,000	–	-1.20%	–
WRK	Exit	WESTROCK CO	$0	–	-170,819	–	-1.22%	–
ZBRA	Exit	ZEBRA TECHNOLOGIES CORPcl a	$0	–	-52,600	–	-1.24%	–
ORCL	Exit	ORACLE CORP	$0	–	-183,000	–	-1.26%	–
INTC	Exit	INTEL CORP	$0	–	-202,000	–	-1.28%	–
KLIC	Exit	KULICKE & SOFFA INDS INC	$0	–	-402,550	–	-1.28%	–
VIAB	Exit	VIACOM INC NEWcl b	$0	–	-285,000	–	-1.29%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-8,200	–	-1.31%	–
IVZ	Exit	INVESCO LTD	$0	–	-432,000	–	-1.32%	–
DIS	Exit	DISNEY WALT CO	$0	–	-84,500	–	-1.32%	–
DAL	Exit	DELTA AIR LINES INC DEL	$0	–	-173,000	–	-1.34%	–
CVS	Exit	CVS CAREMARK CORPORATION	$0	–	-128,000	–	-1.35%	–
CFG	Exit	CITIZENS FINL GROUP INC	$0	–	-263,400	–	-1.36%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE INC	$0	–	-140,700	–	-1.37%	–
GT	Exit	GOODYEAR TIRE & RUBR CO	$0	–	-441,700	–	-1.38%	–
KEYS	Exit	KEYSIGHT TECHNOLOGIES INC	$0	–	-157,000	–	-1.39%	–
CSCO	Exit	CISCO SYS INC	$0	–	-228,000	–	-1.48%	–
AAPL	Exit	APPLE INC	$0	–	-52,000	–	-1.57%	–
CNDT	Exit	CONDUENT INC	$0	–	-539,653	–	-1.63%	–
NWL	Exit	NEWELL RUBBERMAID INC	$0	–	-601,000	–	-1.63%	–
OI	Exit	OWENS ILL INC	$0	–	-655,600	–	-1.65%	–
LM	Exit	LEGG MASON INC	$0	–	-417,000	–	-1.74%	–
WCC	Exit	WESCO INTL INC	$0	–	-226,370	–	-1.86%	–
ZBH	Exit	ZIMMER HLDGS INC	$0	–	-106,500	–	-1.88%	–
DISCK	Exit	DISCOVERY COMMUNICATIONS NEW	$0	–	-479,990	–	-1.90%	–

Q3 2018

			Value		Shares		↓ Weighting
DISCK	Sell	DISCOVERY COMMUNICATIONS NEW	$14,198,000	-17.1%	479,990	-28.6%	1.90%	-16.3%
ZBH	Sell	ZIMMER HLDGS INC	$14,002,000	-11.1%	106,500	-24.7%	1.88%	-10.2%
WCC	Sell	WESCO INTL INC	$13,910,000	+5.3%	226,370	-2.2%	1.86%	+6.3%
LM	Buy	LEGG MASON INC	$13,023,000	+1.2%	417,000	+12.5%	1.74%	+2.2%
OI	Sell	OWENS ILL INC	$12,319,000	+6.0%	655,600	-5.2%	1.65%	+7.0%
NWL	Buy	NEWELL RUBBERMAID INC	$12,200,000	+3.1%	601,000	+30.9%	1.63%	+4.0%
CNDT	Sell	CONDUENT INC	$12,153,000	-1.5%	539,653	-20.5%	1.63%	-0.6%
AAPL	Sell	APPLE INC	$11,738,000	-37.2%	52,000	-48.5%	1.57%	-36.6%
KEYS	Sell	KEYSIGHT TECHNOLOGIES INC	$10,406,000	+6.2%	157,000	-5.4%	1.39%	+7.2%
GT	Buy	GOODYEAR TIRE & RUBR CO	$10,331,000	+13.9%	441,700	+13.4%	1.38%	+15.0%
WBA	Sell	WALGREENS BOOTS ALLIANCE INC	$10,257,000	-5.1%	140,700	-21.8%	1.37%	-4.2%
CFG	Buy	CITIZENS FINL GROUP INC	$10,159,000	+1.6%	263,400	+2.5%	1.36%	+2.6%
CVS	Sell	CVS CAREMARK CORPORATION	$10,076,000	-4.5%	128,000	-22.0%	1.35%	-3.6%
DAL	Sell	DELTA AIR LINES INC DEL	$10,005,000	+13.5%	173,000	-2.8%	1.34%	+14.6%
IVZ	Buy	INVESCO LTD	$9,884,000	-6.3%	432,000	+8.8%	1.32%	-5.4%
GOOG	Sell	ALPHABET INCcap stk cl c	$9,786,000	-4.7%	8,200	-10.9%	1.31%	-3.7%
VIAB	Sell	VIACOM INC NEWcl b	$9,622,000	-11.4%	285,000	-20.8%	1.29%	-10.6%
KLIC	Sell	KULICKE & SOFFA INDS INC	$9,597,000	-11.9%	402,550	-12.0%	1.28%	-11.1%
INTC	Buy	INTEL CORP	$9,553,000	+8.7%	202,000	+14.3%	1.28%	+9.8%
ORCL	Sell	ORACLE CORP	$9,435,000	-13.7%	183,000	-26.2%	1.26%	-12.8%
ZBRA	Sell	ZEBRA TECHNOLOGIES CORPcl a	$9,301,000	-19.2%	52,600	-34.6%	1.24%	-18.5%
WRK	Buy	WESTROCK CO	$9,129,000	+7.1%	170,819	+14.3%	1.22%	+8.1%
WDC	Buy	WESTERN DIGITAL CORP	$8,957,000	+8.1%	153,000	+43.0%	1.20%	+9.2%
SKX	Buy	SKECHERS U S A INCcl a	$8,757,000	-3.3%	313,550	+3.9%	1.17%	-2.3%
OMC	Buy	OMNICOM GROUP INC	$8,707,000	+4.7%	128,000	+17.4%	1.17%	+5.8%
GDI	Buy	GARDNER DENVER HLDGS INC	$8,622,000	+55.0%	304,250	+60.8%	1.15%	+56.6%
WLTW	Buy	WILLIS TOWERS WATSON PUB LTD	$8,597,000	-0.5%	61,000	+7.0%	1.15%	+0.4%
EBAY	Buy	EBAY INC	$8,420,000	+3.2%	255,000	+13.3%	1.13%	+4.2%
PB	Sell	PROSPERITY BANCSHARES INC	$8,249,000	-3.4%	118,950	-4.8%	1.10%	-2.6%
CMCSA	Sell	COMCAST CORP NEWcl a	$8,003,000	-11.0%	226,000	-17.5%	1.07%	-10.2%
GNRC	Buy	GENERAC HLDGS INC	$7,897,000	+13.1%	140,000	+3.7%	1.06%	+14.1%
ST	Buy	SENSATA TECHNOLOGIES HLDNG P	$7,802,000	+9.6%	157,450	+5.3%	1.04%	+10.7%
RBC	Sell	REGAL-BELOIT CORP	$7,724,000	-8.6%	93,680	-9.3%	1.03%	-7.8%
JBLU	Buy	JETBLUE AIRWAYS CORP	$7,531,000	+21.7%	389,000	+19.4%	1.01%	+22.9%
AON	Sell	AON PLC	$7,489,000	-10.5%	48,700	-20.2%	1.00%	-9.6%
BDX	Sell	BECTON DICKINSON & CO	$7,047,000	-20.5%	27,000	-27.0%	0.94%	-19.7%
UTX	Sell	UNITED TECHNOLOGIES CORP	$6,991,000	+4.5%	50,000	-6.5%	0.94%	+5.5%
MDT	Sell	MEDTRONIC PLC	$6,976,000	-5.2%	70,920	-17.5%	0.93%	-4.3%
DWDP	Buy	DOWDUPONT INC	$6,881,000	+28.9%	107,000	+32.1%	0.92%	+30.1%
TXN	Buy	TEXAS INSTRS INC	$6,867,000	+7.4%	64,000	+10.3%	0.92%	+8.4%
GM	Buy	GENERAL MTRS CO	$6,801,000	+6.5%	202,000	+24.7%	0.91%	+7.7%
EMN	Buy	EASTMAN CHEM CO	$6,796,000	+3.0%	71,000	+7.6%	0.91%	+4.0%
PH	Sell	PARKER HANNIFIN CORP	$6,783,000	-1.1%	36,877	-16.2%	0.91%	-0.1%
SAVE	Sell	SPIRIT AIRLS INC	$6,743,000	-39.9%	143,565	-53.5%	0.90%	-39.3%
COTY	Buy	COTY INC	$6,632,000	-2.4%	528,000	+9.5%	0.89%	-1.4%
DLPH	Buy	DELPHI TECHNOLOGIES PLC	$6,600,000	+96.2%	210,450	+184.4%	0.88%	+98.2%
BWA	Buy	BORGWARNER INC	$6,588,000	+13.1%	154,000	+14.1%	0.88%	+14.1%
AXTA	Sell	AXALTA COATING SYS LTD	$6,497,000	-7.4%	222,799	-3.8%	0.87%	-6.5%
MHK	New	MOHAWK INDS INC	$6,137,000	–	35,000	–	0.82%	–
SEAS	Sell	SEAWORLD ENTMT INC	$6,061,000	-44.2%	192,850	-61.2%	0.81%	-43.7%
LRCX	Buy	LAM RESEARCH CORP	$5,977,000	+72.9%	39,400	+97.0%	0.80%	+74.7%
LOW	Sell	LOWES COS INC	$5,856,000	-4.3%	51,000	-20.3%	0.78%	-3.3%
GBX	Sell	GREENBRIER COS INC	$5,502,000	-33.9%	91,550	-42.0%	0.74%	-33.2%
DHR	Sell	DANAHER CORP DEL	$5,433,000	+7.9%	50,000	-2.0%	0.73%	+9.0%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$5,370,000	+12.7%	22,000	-4.3%	0.72%	+13.8%
GLW	Sell	CORNING INC	$5,366,000	+5.4%	152,000	-17.8%	0.72%	+6.4%
MSFT	Sell	MICROSOFT CORP	$5,261,000	-19.5%	46,000	-30.6%	0.70%	-18.8%
V	Sell	VISA INC	$5,253,000	+4.4%	35,000	-7.9%	0.70%	+5.4%
SEE	Buy	SEALED AIR CORP NEW	$5,220,000	+46.4%	130,000	+54.8%	0.70%	+47.8%
SNA	Sell	SNAP ON INC	$5,141,000	-22.0%	28,000	-31.7%	0.69%	-21.3%
FITB	Buy	FIFTH THIRD BANCORP	$5,137,000	+5.9%	184,000	+8.9%	0.69%	+7.0%
CASY	Sell	CASEYS GEN STORES INC	$5,136,000	-5.6%	39,780	-23.2%	0.69%	-4.6%
UNH	Sell	UNITEDHEALTH GROUP INC	$5,055,000	+3.0%	19,000	-5.0%	0.68%	+4.0%
HOLX	Sell	HOLOGIC INC	$4,995,000	-1.8%	121,900	-4.8%	0.67%	-0.9%
UHS	Sell	UNIVERSAL HLTH SVCS INCcl b	$4,986,000	+1.0%	39,000	-12.0%	0.67%	+2.0%
APTV	Buy	APTIV PLC	$4,972,000	+57.3%	59,264	+71.8%	0.67%	+58.9%
AXP	Sell	AMERICAN EXPRESS CO	$4,579,000	-13.5%	43,000	-20.4%	0.61%	-12.7%
AGCO	Buy	AGCO CORP	$4,581,000	+1.5%	75,350	+1.4%	0.61%	+2.3%
BEN	Sell	FRANKLIN RES INC	$4,568,000	-29.8%	150,222	-26.0%	0.61%	-29.1%
SJM	Sell	SMUCKER J M CO	$4,515,000	-12.5%	44,000	-8.3%	0.60%	-11.7%
SBUX	New	STARBUCKS CORP	$4,434,000	–	78,000	–	0.59%	–
MCD	New	MCDONALDS CORP	$4,350,000	–	26,000	–	0.58%	–
CAT	Buy	CATERPILLAR INC DEL	$4,270,000	+25.9%	28,000	+12.0%	0.57%	+27.1%
PBH	Sell	PRESTIGE BRANDS HLDGS INC	$4,217,000	-18.2%	111,305	-17.1%	0.56%	-17.4%
GS	Buy	GOLDMAN SACHS GROUP INC	$4,036,000	+7.6%	18,000	+5.9%	0.54%	+8.7%
PKG	New	PACKAGING CORP AMER	$3,620,000	–	33,000	–	0.48%	–
MA	Sell	MASTERCARD INCcl a	$3,562,000	+0.7%	16,000	-11.1%	0.48%	+1.7%
HSIC	Sell	SCHEIN HENRY INC	$3,469,000	+3.8%	40,800	-11.3%	0.46%	+4.7%
PG	Sell	PROCTOR & GAMBLE CO	$3,412,000	-2.9%	41,000	-8.9%	0.46%	-1.9%
CBRL	New	CRACKER BARREL OLD CTRY STOR	$3,261,000	–	22,166	–	0.44%	–
MCO	Buy	MOODYS CORP	$3,177,000	+24.2%	19,000	+26.7%	0.42%	+25.4%
SPAR	Buy	SPARTAN MTRS INC	$3,089,000	+11.2%	209,400	+13.8%	0.41%	+12.5%
DNKN	Sell	DUNKIN BRANDS GROUP INC	$2,897,000	-41.0%	39,300	-44.8%	0.39%	-40.5%
KMB	Sell	KIMBERLY CLARK CORP	$2,841,000	-48.1%	25,000	-51.9%	0.38%	-47.7%
WNC	Buy	WABASH NATL CORP	$2,388,000	+4.2%	131,000	+6.6%	0.32%	+5.3%
DIN	Sell	DINEEQUITY INC	$2,366,000	-16.3%	29,100	-23.0%	0.32%	-15.5%
LCUT	Buy	LIFETIME BRANDS INC	$2,344,000	-9.3%	215,000	+5.3%	0.31%	-8.5%
HAIN	Sell	HAIN CELESTIAL GROUP INC	$2,294,000	-14.1%	84,600	-5.6%	0.31%	-13.3%
JHG	Buy	JANUS HENDERSON GROUP PLC	$2,213,000	-11.3%	82,100	+1.1%	0.30%	-10.6%
HRL	Sell	HORMEL FOODS CORP	$2,009,000	-42.6%	51,000	-45.7%	0.27%	-42.0%
CENTA	Buy	CENTRAL GARDEN & PET COcl a non-vtg	$1,955,000	-15.1%	59,000	+3.7%	0.26%	-14.1%
CMI	New	CUMMINS INC	$1,899,000	–	13,000	–	0.25%	–
PKOH	Buy	PARK OHIO HLDGS CORP	$1,841,000	+23.4%	48,000	+20.0%	0.25%	+24.2%
BIG	New	BIG LOTS INC	$1,705,000	–	40,800	–	0.23%	–
MLR	Sell	MILLER INDS INC TENN	$1,600,000	-11.1%	59,485	-15.5%	0.21%	-10.5%
DENN	Buy	DENNYS CORP	$1,529,000	-0.6%	103,900	+7.6%	0.20%	+0.5%
BLBD	Sell	BLUE BIRD CORP	$1,524,000	-3.2%	62,210	-11.6%	0.20%	-2.4%
HOMB	Buy	HOME BANCSHARES INC	$1,500,000	+5.2%	68,500	+8.4%	0.20%	+6.3%
FSS	Sell	FEDERAL SIGNAL CORP	$1,419,000	-7.0%	53,000	-19.1%	0.19%	-5.9%
HELE	Sell	HELEN OF TROY CORP LTD	$1,170,000	-56.3%	8,940	-67.1%	0.16%	-55.8%
FLEX	New	FLEX LTDord	$918,000	–	70,000	–	0.12%	–
NTUS	Sell	NATUS MEDICAL INC DEL	$882,000	-28.7%	24,750	-31.0%	0.12%	-28.0%
PEP	Exit	PEPSICO INC	$0	–	-9,300	–	-0.13%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-3,400	–	-0.22%	–
SRCL	Exit	STERICYCLE INC	$0	–	-188,500	–	-1.63%	–

Q2 2018

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$18,696,000	–	101,000	–	2.48%	–
DISCK	New	DISCOVERY COMMUNICATIONS NEW	$17,133,000	–	671,877	–	2.27%	–
ZBH	New	ZIMMER HLDGS INC	$15,757,000	–	141,390	–	2.09%	–
WCC	New	WESCO INTL INC	$13,211,000	–	231,370	–	1.75%	–
LM	New	LEGG MASON INC	$12,873,000	–	370,650	–	1.71%	–
CNDT	New	CONDUENT INC	$12,336,000	–	678,900	–	1.64%	–
SRCL	New	STERICYCLE INC	$12,307,000	–	188,500	–	1.63%	–
NWL	New	NEWELL RUBBERMAID INC	$11,838,000	–	459,000	–	1.57%	–
OI	New	OWENS ILL INC	$11,622,000	–	691,400	–	1.54%	–
ZBRA	New	ZEBRA TECHNOLOGIES CORPcl a	$11,517,000	–	80,400	–	1.53%	–
SAVE	New	SPIRIT AIRLS INC	$11,214,000	–	308,500	–	1.49%	–
ORCL	New	ORACLE CORP	$10,927,000	–	248,000	–	1.45%	–
KLIC	New	KULICKE & SOFFA INDS INC	$10,899,000	–	457,550	–	1.44%	–
SEAS	New	SEAWORLD ENTMT INC	$10,857,000	–	497,550	–	1.44%	–
VIAB	New	VIACOM INC NEWcl b	$10,858,000	–	360,000	–	1.44%	–
WBA	New	WALGREENS BOOTS ALLIANCE INC	$10,803,000	–	180,000	–	1.43%	–
CVS	New	CVS CAREMARK CORPORATION	$10,553,000	–	164,000	–	1.40%	–
IVZ	New	INVESCO LTD	$10,544,000	–	397,000	–	1.40%	–
GOOG	New	ALPHABET INCcap stk cl c	$10,264,000	–	9,200	–	1.36%	–
CFG	New	CITIZENS FINL GROUP INC	$9,997,000	–	257,000	–	1.33%	–
CSCO	New	CISCO SYS INC	$9,811,000	–	228,000	–	1.30%	–
KEYS	New	KEYSIGHT TECHNOLOGIES INC	$9,799,000	–	166,000	–	1.30%	–
GT	New	GOODYEAR TIRE & RUBR CO	$9,069,000	–	389,400	–	1.20%	–
SKX	New	SKECHERS U S A INCcl a	$9,053,000	–	301,650	–	1.20%	–
CMCSA	New	COMCAST CORP NEWcl a	$8,990,000	–	274,000	–	1.19%	–
BDX	New	BECTON DICKINSON & CO	$8,864,000	–	37,000	–	1.18%	–
DIS	New	DISNEY WALT CO	$8,856,000	–	84,500	–	1.17%	–
DAL	New	DELTA AIR LINES INC DEL	$8,818,000	–	178,000	–	1.17%	–
INTC	New	INTEL CORP	$8,789,000	–	176,800	–	1.16%	–
WLTW	New	WILLIS TOWERS WATSON PUB LTD	$8,641,000	–	57,000	–	1.15%	–
PB	New	PROSPERITY BANCSHARES INC	$8,542,000	–	124,950	–	1.13%	–
WRK	New	WESTROCK CO	$8,524,000	–	149,500	–	1.13%	–
RBC	New	REGAL-BELOIT CORP	$8,452,000	–	103,330	–	1.12%	–
AON	New	AON PLC	$8,367,000	–	61,000	–	1.11%	–
GBX	New	GREENBRIER COS INC	$8,329,000	–	157,900	–	1.10%	–
OMC	New	OMNICOM GROUP INC	$8,313,000	–	109,000	–	1.10%	–
WDC	New	WESTERN DIGITAL CORP	$8,283,000	–	107,000	–	1.10%	–
EBAY	New	EBAY INC	$8,159,000	–	225,000	–	1.08%	–
COMM	New	COMMSCOPE HLDG CO INC	$7,836,000	–	268,300	–	1.04%	–
WFC	New	WELLS FARGO CO NEW	$7,651,000	–	138,000	–	1.02%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$7,544,000	–	54,000	–	1.00%	–
MDT	New	MEDTRONIC PLC	$7,362,000	–	86,000	–	0.98%	–
ST	New	SENSATA TECHNOLOGIES HLDNG P	$7,116,000	–	149,566	–	0.94%	–
AXTA	New	AXALTA COATING SYS LTD	$7,017,000	–	231,499	–	0.93%	–
GNRC	New	GENERAC HLDGS INC	$6,984,000	–	135,000	–	0.93%	–
PH	New	PARKER HANNIFIN CORP	$6,857,000	–	44,000	–	0.91%	–
PRU	New	PRUDENTIAL FINL INC	$6,826,000	–	73,000	–	0.90%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$6,799,000	–	64,000	–	0.90%	–
COTY	New	COTY INC	$6,796,000	–	482,000	–	0.90%	–
USB	New	US BANCORP DEL	$6,753,000	–	135,000	–	0.90%	–
BK	New	BANK NEW YORK MELLON CORP	$6,741,000	–	125,000	–	0.89%	–
UTX	New	UNITED TECHNOLOGIES CORP	$6,689,000	–	53,500	–	0.89%	–
EMN	New	EASTMAN CHEM CO	$6,597,000	–	66,000	–	0.88%	–
SNA	New	SNAP ON INC	$6,590,000	–	41,000	–	0.87%	–
FDX	New	FEDEX CORP	$6,585,000	–	29,000	–	0.87%	–
MSFT	New	MICROSOFT CORP	$6,538,000	–	66,300	–	0.87%	–
BEN	New	FRANKLIN RES INC	$6,506,000	–	203,000	–	0.86%	–
TXN	New	TEXAS INSTRS INC	$6,395,000	–	58,000	–	0.85%	–
GM	New	GENERAL MTRS CO	$6,383,000	–	162,000	–	0.85%	–
JBLU	New	JETBLUE AIRWAYS CORP	$6,186,000	–	325,900	–	0.82%	–
LOW	New	LOWES COS INC	$6,116,000	–	64,000	–	0.81%	–
BWA	New	BORGWARNER INC	$5,827,000	–	135,000	–	0.77%	–
ETN	New	EATON CORP PLC	$5,680,000	–	76,000	–	0.75%	–
GDI	New	GARDNER DENVER HLDGS INC	$5,561,000	–	189,200	–	0.74%	–
KMB	New	KIMBERLY CLARK CORP	$5,478,000	–	52,000	–	0.73%	–
TRV	New	TRAVELERS COMPANIES INC	$5,444,000	–	44,500	–	0.72%	–
CASY	New	CASEYS GEN STORES INC	$5,441,000	–	51,780	–	0.72%	–
DWDP	New	DOWDUPONT INC	$5,340,000	–	81,000	–	0.71%	–
AXP	New	AMERICAN EXPRESS CO	$5,292,000	–	54,000	–	0.70%	–
PBH	New	PRESTIGE BRANDS HLDGS INC	$5,155,000	–	134,305	–	0.68%	–
SJM	New	SMUCKER J M CO	$5,159,000	–	48,000	–	0.68%	–
HOLX	New	HOLOGIC INC	$5,088,000	–	128,000	–	0.68%	–
GLW	New	CORNING INC	$5,089,000	–	185,000	–	0.68%	–
V	New	VISA INC	$5,033,000	–	38,000	–	0.67%	–
DHR	New	DANAHER CORP DEL	$5,033,000	–	51,000	–	0.67%	–
UHS	New	UNIVERSAL HLTH SVCS INCcl b	$4,937,000	–	44,300	–	0.66%	–
DNKN	New	DUNKIN BRANDS GROUP INC	$4,914,000	–	71,150	–	0.65%	–
UNH	New	UNITEDHEALTH GROUP INC	$4,907,000	–	20,000	–	0.65%	–
FITB	New	FIFTH THIRD BANCORP	$4,850,000	–	169,000	–	0.64%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$4,764,000	–	23,000	–	0.63%	–
AGCO	New	AGCO CORP	$4,514,000	–	74,340	–	0.60%	–
GS	New	GOLDMAN SACHS GROUP INC	$3,750,000	–	17,000	–	0.50%	–
TPR	New	TAPESTRY INC	$3,690,000	–	79,000	–	0.49%	–
MMC	New	MARSH & MCLENNAN COS INC	$3,672,000	–	44,800	–	0.49%	–
SEE	New	SEALED AIR CORP NEW	$3,566,000	–	84,000	–	0.47%	–
XOM	New	EXXON MOBIL CORP	$3,557,000	–	43,000	–	0.47%	–
MA	New	MASTERCARD INCcl a	$3,537,000	–	18,000	–	0.47%	–
PG	New	PROCTOR & GAMBLE CO	$3,513,000	–	45,000	–	0.47%	–
HRL	New	HORMEL FOODS CORP	$3,498,000	–	94,000	–	0.46%	–
LRCX	New	LAM RESEARCH CORP	$3,457,000	–	20,000	–	0.46%	–
BAX	New	BAXTER INTL INC	$3,397,000	–	46,000	–	0.45%	–
CAT	New	CATERPILLAR INC DEL	$3,392,000	–	25,000	–	0.45%	–
DLPH	New	DELPHI TECHNOLOGIES PLC	$3,364,000	–	74,000	–	0.45%	–
CVX	New	CHEVRON CORP NEW	$3,350,000	–	26,500	–	0.44%	–
HSIC	New	SCHEIN HENRY INC	$3,341,000	–	46,000	–	0.44%	–
BBT	New	BB&T CORP	$3,228,000	–	64,000	–	0.43%	–
APTV	New	APTIV PLC	$3,161,000	–	34,500	–	0.42%	–
DIN	New	DINEEQUITY INC	$2,827,000	–	37,788	–	0.38%	–
SPAR	New	SPARTAN MTRS INC	$2,778,000	–	184,000	–	0.37%	–
HELE	New	HELEN OF TROY CORP LTD	$2,676,000	–	27,180	–	0.36%	–
HAIN	New	HAIN CELESTIAL GROUP INC	$2,670,000	–	89,600	–	0.35%	–
LCUT	New	LIFETIME BRANDS INC	$2,583,000	–	204,200	–	0.34%	–
MCO	New	MOODYS CORP	$2,558,000	–	15,000	–	0.34%	–
JHG	New	JANUS HENDERSON GROUP PLC	$2,495,000	–	81,200	–	0.33%	–
CENTA	New	CENTRAL GARDEN & PET COcl a non-vtg	$2,303,000	–	56,900	–	0.30%	–
WNC	New	WABASH NATL CORP	$2,292,000	–	122,850	–	0.30%	–
MLR	New	MILLER INDS INC TENN	$1,799,000	–	70,426	–	0.24%	–
ISRG	New	INTUITIVE SURGICAL INC	$1,627,000	–	3,400	–	0.22%	–
BLBD	New	BLUE BIRD CORP	$1,574,000	–	70,410	–	0.21%	–
DENN	New	DENNYS CORP	$1,539,000	–	96,600	–	0.20%	–
FSS	New	FEDERAL SIGNAL CORP	$1,525,000	–	65,500	–	0.20%	–
PKOH	New	PARK OHIO HLDGS CORP	$1,492,000	–	40,000	–	0.20%	–
HOMB	New	HOME BANCSHARES INC	$1,426,000	–	63,200	–	0.19%	–
NTUS	New	NATUS MEDICAL INC DEL	$1,237,000	–	35,850	–	0.16%	–
PEP	New	PEPSICO INC	$1,012,000	–	9,300	–	0.13%	–

Q4 2017

			Value		Shares		↓ Weighting
CENTA	Exit	CENTRAL GARDEN & PET COcl a non-vtg	$0	–	-27,321	–	-0.13%	–
PKOH	Exit	PARK OHIO HLDGS CORP	$0	–	-27,428	–	-0.16%	–
LNCE	Exit	SNYDERS-LANCE INC	$0	–	-35,850	–	-0.18%	–
SYKE	Exit	SYKES ENTERPRISES INC	$0	–	-59,750	–	-0.22%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-17,000	–	-0.26%	–
HELE	Exit	HELEN OF TROY CORP LTD	$0	–	-21,040	–	-0.26%	–
BLBD	Exit	BLUE BIRD CORP	$0	–	-100,010	–	-0.27%	–
WNC	Exit	WABASH NATL CORP	$0	–	-93,200	–	-0.27%	–
FSS	Exit	FEDERAL SIGNAL CORP	$0	–	-106,620	–	-0.29%	–
MLR	Exit	MILLER INDS INC TENN	$0	–	-82,946	–	-0.30%	–
LCUT	Exit	LIFETIME BRANDS INC	$0	–	-144,263	–	-0.34%	–
ZTS	Exit	ZOETIS INCcl a	$0	–	-44,000	–	-0.36%	–
PBH	Exit	PRESTIGE BRANDS HLDGS INC	$0	–	-59,750	–	-0.39%	–
NTUS	Exit	NATUS MEDICAL INC DEL	$0	–	-86,200	–	-0.42%	–
GLW	Exit	CORNING INC	$0	–	-110,700	–	-0.43%	–
BAX	Exit	BAXTER INTL INC	$0	–	-54,000	–	-0.44%	–
NKE	Exit	NIKE INCcl b	$0	–	-66,000	–	-0.44%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-30,000	–	-0.46%	–
BEN	Exit	FRANKLIN RES INC	$0	–	-79,700	–	-0.46%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-3,400	–	-0.46%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-49,000	–	-0.47%	–
DIN	Exit	DINEEQUITY INC	$0	–	-84,900	–	-0.47%	–
COH	Exit	COACH INC	$0	–	-93,000	–	-0.48%	–
AGCO	Exit	AGCO CORP	$0	–	-51,040	–	-0.48%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE INC	$0	–	-49,000	–	-0.49%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-48,000	–	-0.51%	–
HOG	Exit	HARLEY DAVIDSON INC	$0	–	-82,000	–	-0.51%	–
BWA	Exit	BORGWARNER INC	$0	–	-80,000	–	-0.53%	–
MMC	Exit	MARSH & MCLENNAN COS INC	$0	–	-49,800	–	-0.54%	–
PEP	Exit	PEPSICO INC	$0	–	-38,000	–	-0.55%	–
XPER	Exit	XPERI CORP	$0	–	-169,700	–	-0.55%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-23,000	–	-0.56%	–
HOLX	Exit	HOLOGIC INC	$0	–	-119,700	–	-0.57%	–
3106PS	Exit	DELPHI AUTOMOTIVE PLC	$0	–	-49,500	–	-0.63%	–
HRL	Exit	HORMEL FOODS CORP	$0	–	-152,000	–	-0.63%	–
TRV	Exit	TRAVELERS COMPANIES INC	$0	–	-41,000	–	-0.65%	–
DNKN	Exit	DUNKIN BRANDS GROUP INC	$0	–	-95,020	–	-0.65%	–
WGO	Exit	WINNEBAGO INDS INC	$0	–	-115,400	–	-0.67%	–
PG	Exit	PROCTOR & GAMBLE CO	$0	–	-57,000	–	-0.67%	–
BBT	Exit	BB&T CORP	$0	–	-111,000	–	-0.67%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-26,600	–	-0.67%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-27,000	–	-0.68%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-37,615	–	-0.68%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-34,000	–	-0.68%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-63,000	–	-0.70%	–
WLTW	Exit	WILLIS TOWERS WATSON PUB LTD	$0	–	-36,000	–	-0.72%	–
INTC	Exit	INTEL CORP	$0	–	-153,000	–	-0.75%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-65,500	–	-0.76%	–
NWL	Exit	NEWELL RUBBERMAID INC	$0	–	-139,000	–	-0.76%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-66,000	–	-0.77%	–
SERV	Exit	SERVICEMASTER GLOBAL HLDGS I	$0	–	-129,650	–	-0.78%	–
USB	Exit	US BANCORP DEL	$0	–	-113,500	–	-0.78%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-42,000	–	-0.78%	–
FDX	Exit	FEDEX CORP	$0	–	-27,000	–	-0.78%	–
JHG	Exit	JANUS HENDERSON GROUP PLC	$0	–	-175,000	–	-0.79%	–
PRU	Exit	PRUDENTIAL FINL INC	$0	–	-58,000	–	-0.80%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-49,500	–	-0.80%	–
UHS	Exit	UNIVERSAL HLTH SVCS INCcl b	$0	–	-56,000	–	-0.80%	–
JBLU	Exit	JETBLUE AIRWAYS CORP	$0	–	-336,000	–	-0.80%	–
ST	Exit	SENSATA TECHNOLOGIES HLDG NV	$0	–	-131,125	–	-0.81%	–
MCO	Exit	MOODYS CORP	$0	–	-45,300	–	-0.81%	–
FITB	Exit	FIFTH THIRD BANCORP	$0	–	-227,000	–	-0.82%	–
AON	Exit	AON PLC	$0	–	-44,000	–	-0.83%	–
CRL	Exit	CHARLES RIV LABS INTL INC	$0	–	-60,112	–	-0.84%	–
HRC	Exit	HILL ROM HLDGS INC	$0	–	-88,780	–	-0.85%	–
DIS	Exit	DISNEY WALT CO	$0	–	-68,500	–	-0.87%	–
GM	Exit	GENERAL MTRS CO	$0	–	-170,000	–	-0.88%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-59,500	–	-0.89%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-131,888	–	-0.90%	–
VIAB	Exit	VIACOM INC NEWcl b	$0	–	-257,000	–	-0.92%	–
AXTA	Exit	AXALTA COATING SYS LTD	$0	–	-247,959	–	-0.92%	–
COTY	Exit	COTY INC	$0	–	-434,000	–	-0.92%	–
FOX	Exit	TWENTY FIRST CENTY FOX INCcl b	$0	–	-283,000	–	-0.94%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-190,000	–	-0.94%	–
SKX	Exit	SKECHERS U S A INCcl a	$0	–	-296,400	–	-0.96%	–
GT	Exit	GOODYEAR TIRE & RUBR CO	$0	–	-227,000	–	-0.97%	–
EBAY	Exit	EBAY INC	$0	–	-203,000	–	-1.01%	–
V	Exit	VISA INC	$0	–	-75,000	–	-1.02%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-66,000	–	-1.02%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-110,000	–	-1.06%	–
SNA	Exit	SNAP ON INC	$0	–	-55,000	–	-1.06%	–
DAL	Exit	DELTA AIR LINES INC DEL	$0	–	-171,000	–	-1.06%	–
MAT	Exit	MATTEL INC	$0	–	-539,160	–	-1.08%	–
LOW	Exit	LOWES COS INC	$0	–	-105,000	–	-1.08%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-111,000	–	-1.11%	–
RBC	Exit	REGAL-BELOIT CORP	$0	–	-109,600	–	-1.12%	–
SJM	Exit	SMUCKER J M CO	$0	–	-86,000	–	-1.16%	–
CVG	Exit	CONVERGYS CORP	$0	–	-350,069	–	-1.17%	–
WRK	Exit	WESTROCK CO	$0	–	-168,058	–	-1.23%	–
CVS	Exit	CVS CAREMARK CORPORATION	$0	–	-119,000	–	-1.25%	–
CNDT	Exit	CONDUENT INC	$0	–	-624,300	–	-1.26%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-118,000	–	-1.31%	–
GBX	Exit	GREENBRIER COS INC	$0	–	-212,600	–	-1.32%	–
DISCK	Exit	DISCOVERY COMMUNICATIONS NEW	$0	–	-519,000	–	-1.36%	–
IVZ	Exit	INVESCO LTD	$0	–	-309,000	–	-1.40%	–
OI	Exit	OWENS ILL INC	$0	–	-453,000	–	-1.47%	–
CSCO	Exit	CISCO SYS INC	$0	–	-346,000	–	-1.50%	–
VWR	Exit	VWR CORP	$0	–	-364,648	–	-1.56%	–
ZBRA	Exit	ZEBRA TECHNOLOGIES CORPcl a	$0	–	-113,950	–	-1.60%	–
CFG	Exit	CITIZENS FINL GROUP INC	$0	–	-331,030	–	-1.62%	–
PB	Exit	PROSPERITY BANCSHARES INC	$0	–	-191,150	–	-1.62%	–
PDCO	Exit	PATTERSON COMPANIES INC	$0	–	-329,020	–	-1.64%	–
SEAS	Exit	SEAWORLD ENTMT INC	$0	–	-998,000	–	-1.67%	–
LM	Exit	LEGG MASON INC	$0	–	-342,820	–	-1.74%	–
SRCL	Exit	STERICYCLE INC	$0	–	-188,750	–	-1.74%	–
SAVE	Exit	SPIRIT AIRLS INC	$0	–	-405,750	–	-1.75%	–
KEYS	Exit	KEYSIGHT TECHNOLOGIES INC	$0	–	-352,725	–	-1.89%	–
ZBH	Exit	ZIMMER HLDGS INC	$0	–	-132,700	–	-2.00%	–
ORCL	Exit	ORACLE CORP	$0	–	-327,000	–	-2.04%	–
WCC	Exit	WESCO INTL INC	$0	–	-277,846	–	-2.09%	–
AAPL	Exit	APPLE INC	$0	–	-113,000	–	-2.24%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-21,000	–	-2.60%	–

Q3 2017

			Value		Shares		↓ Weighting
WCC	Buy	WESCO INTL INC	$16,185,000	+5.4%	277,846	+3.7%	2.09%	+7.1%
ORCL	Sell	ORACLE CORP	$15,810,000	-7.8%	327,000	-4.4%	2.04%	-6.4%
ZBH	Buy	ZIMMER HLDGS INC	$15,538,000	+9.3%	132,700	+19.8%	2.00%	+11.0%
KEYS	Sell	KEYSIGHT TECHNOLOGIES INC	$14,695,000	-2.6%	352,725	-9.0%	1.89%	-1.1%
SAVE	Buy	SPIRIT AIRLS INC	$13,556,000	+17.4%	405,750	+81.4%	1.75%	+19.2%
SRCL	Buy	STERICYCLE INC	$13,518,000	+12.9%	188,750	+20.3%	1.74%	+14.7%
SEAS	Buy	SEAWORLD ENTMT INC	$12,964,000	+3.9%	998,000	+30.1%	1.67%	+5.5%
PDCO	Buy	PATTERSON COMPANIES INC	$12,717,000	+3.9%	329,020	+26.2%	1.64%	+5.5%
PB	Buy	PROSPERITY BANCSHARES INC	$12,564,000	+8.7%	191,150	+6.3%	1.62%	+10.4%
CFG	Buy	CITIZENS FINL GROUP INC	$12,536,000	+10.2%	331,030	+3.8%	1.62%	+11.8%
ZBRA	Buy	ZEBRA TECHNOLOGIES CORPcl a	$12,373,000	+9.3%	113,950	+1.2%	1.60%	+11.0%
VWR	Sell	VWR CORP	$12,073,000	-18.9%	364,648	-19.2%	1.56%	-17.7%
CSCO	Buy	CISCO SYS INC	$11,636,000	+97.8%	346,000	+84.0%	1.50%	+100.8%
OI	Sell	OWENS ILL INC	$11,397,000	-6.3%	453,000	-10.9%	1.47%	-4.9%
IVZ	Buy	INVESCO LTD	$10,827,000	+3.0%	309,000	+3.5%	1.40%	+4.6%
DISCK	Buy	DISCOVERY COMMUNICATIONS NEW	$10,515,000	+6.7%	519,000	+32.7%	1.36%	+8.4%
GBX	Buy	GREENBRIER COS INC	$10,237,000	+11.5%	212,600	+7.1%	1.32%	+13.2%
WDC	Buy	WESTERN DIGITAL CORP	$10,195,000	+33.0%	118,000	+36.4%	1.31%	+35.0%
CNDT	Buy	CONDUENT INC	$9,783,000	+3.4%	624,300	+5.2%	1.26%	+5.0%
CVS	Sell	CVS CAREMARK CORPORATION	$9,677,000	-3.7%	119,000	-4.7%	1.25%	-2.2%
WRK	Sell	WESTROCK CO	$9,534,000	-11.2%	168,058	-11.3%	1.23%	-9.8%
CVG	Buy	CONVERGYS CORP	$9,063,000	+72.1%	350,069	+58.0%	1.17%	+74.6%
SJM	Buy	SMUCKER J M CO	$9,024,000	+74.5%	86,000	+96.8%	1.16%	+77.3%
RBC	Sell	REGAL-BELOIT CORP	$8,658,000	-6.5%	109,600	-3.5%	1.12%	-5.1%
MDT	Buy	MEDTRONIC PLC	$8,632,000	+6.7%	111,000	+21.8%	1.11%	+8.4%
LOW	Buy	LOWES COS INC	$8,394,000	+33.7%	105,000	+29.6%	1.08%	+35.8%
MAT	Buy	MATTEL INC	$8,346,000	+241.8%	539,160	+375.4%	1.08%	+247.1%
DAL	Buy	DELTA AIR LINES INC DEL	$8,246,000	-6.6%	171,000	+4.1%	1.06%	-5.2%
SNA	Buy	SNAP ON INC	$8,196,000	+13.0%	55,000	+19.8%	1.06%	+14.8%
MSFT	Sell	MICROSOFT CORP	$8,194,000	-0.9%	110,000	-8.3%	1.06%	+0.6%
UPS	Sell	UNITED PARCEL SERVICE INCcl b	$7,926,000	+7.0%	66,000	-1.5%	1.02%	+8.6%
V	Sell	VISA INC	$7,893,000	-21.3%	75,000	-29.9%	1.02%	-20.1%
EBAY	Sell	EBAY INC	$7,807,000	-15.0%	203,000	-22.8%	1.01%	-13.7%
GT	Buy	GOODYEAR TIRE & RUBR CO	$7,548,000	+29.3%	227,000	+35.9%	0.97%	+31.3%
SKX	Sell	SKECHERS U S A INCcl a	$7,437,000	-17.5%	296,400	-3.0%	0.96%	-16.2%
CMCSA	Sell	COMCAST CORP NEWcl a	$7,311,000	-6.1%	190,000	-5.0%	0.94%	-4.6%
FOX	Sell	TWENTY FIRST CENTY FOX INCcl b	$7,299,000	-16.3%	283,000	-9.6%	0.94%	-15.0%
COTY	Buy	COTY INC	$7,174,000	-3.4%	434,000	+9.6%	0.92%	-1.9%
VIAB	Buy	VIACOM INC NEWcl b	$7,155,000	+9.2%	257,000	+31.7%	0.92%	+10.8%
BK	Sell	BANK NEW YORK MELLON CORP	$6,993,000	-3.4%	131,888	-7.0%	0.90%	-1.8%
UTX	Sell	UNITED TECHNOLOGIES CORP	$6,907,000	-11.6%	59,500	-7.0%	0.89%	-10.3%
GM	Sell	GENERAL MTRS CO	$6,865,000	-25.7%	170,000	-35.7%	0.88%	-24.6%
HRC	Buy	HILL ROM HLDGS INC	$6,570,000	+14.2%	88,780	+22.9%	0.85%	+16.0%
CRL	Sell	CHARLES RIV LABS INTL INC	$6,493,000	-16.8%	60,112	-22.1%	0.84%	-15.5%
AON	Sell	AON PLC	$6,428,000	-6.1%	44,000	-14.6%	0.83%	-4.6%
FITB	Sell	FIFTH THIRD BANCORP	$6,351,000	+5.4%	227,000	-2.2%	0.82%	+7.1%
ST	Buy	SENSATA TECHNOLOGIES HLDG NV	$6,303,000	+12.9%	131,125	+0.3%	0.81%	+14.7%
JBLU	Buy	JETBLUE AIRWAYS CORP	$6,226,000	-18.5%	336,000	+0.4%	0.80%	-17.2%
UHS	Buy	UNIVERSAL HLTH SVCS INCcl b	$6,213,000	+15.7%	56,000	+27.3%	0.80%	+17.4%
CAT	Sell	CATERPILLAR INC DEL	$6,173,000	+3.5%	49,500	-10.8%	0.80%	+5.2%
PRU	Buy	PRUDENTIAL FINL INC	$6,167,000	+9.7%	58,000	+11.5%	0.80%	+11.3%
JHG	New	JANUS HENDERSON GROUP PLC	$6,097,000	–	175,000	–	0.79%	–
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$6,093,000	+41.5%	42,000	+50.0%	0.78%	+43.5%
SERV	Sell	SERVICEMASTER GLOBAL HLDGS I	$6,059,000	-35.9%	129,650	-46.2%	0.78%	-34.9%
AXP	Sell	AMERICAN EXPRESS CO	$5,970,000	-28.6%	66,000	-33.5%	0.77%	-27.5%
NWL	Buy	NEWELL RUBBERMAID INC	$5,931,000	+10.6%	139,000	+39.0%	0.76%	+12.3%
INTC	Buy	INTEL CORP	$5,826,000	+15.9%	153,000	+2.7%	0.75%	+17.7%
WLTW	New	WILLIS TOWERS WATSON PUB LTD	$5,552,000	–	36,000	–	0.72%	–
DHR	Sell	DANAHER CORP DEL	$5,404,000	-1.5%	63,000	-3.1%	0.70%	+0.1%
MA	Sell	MASTERCARD INCcl a	$5,311,000	-10.8%	37,615	-23.2%	0.68%	-9.3%
SPGI	Sell	S&P GLOBAL INC	$5,315,000	-9.0%	34,000	-15.0%	0.68%	-7.6%
UNH	Sell	UNITEDHEALTH GROUP INC	$5,288,000	-1.7%	27,000	-6.9%	0.68%	-0.1%
BDX	Sell	BECTON DICKINSON & CO	$5,212,000	-1.4%	26,600	-1.8%	0.67%	+0.1%
WGO	Sell	WINNEBAGO INDS INC	$5,164,000	-16.8%	115,400	-34.9%	0.67%	-15.5%
DNKN	New	DUNKIN BRANDS GROUP INC	$5,044,000	–	95,020	–	0.65%	–
TRV	Buy	TRAVELERS COMPANIES INC	$5,023,000	-0.8%	41,000	+2.5%	0.65%	+0.9%
3106PS	Sell	DELPHI AUTOMOTIVE PLC	$4,871,000	-34.6%	49,500	-41.8%	0.63%	-33.6%
HOLX	Buy	HOLOGIC INC	$4,392,000	+5.8%	119,700	+30.8%	0.57%	+7.4%
XPER	Buy	XPERI CORP	$4,293,000	+5.1%	169,700	+23.8%	0.55%	+6.6%
MMC	Sell	MARSH & MCLENNAN COS INC	$4,174,000	-20.1%	49,800	-25.7%	0.54%	-18.9%
BWA	Sell	BORGWARNER INC	$4,098,000	+7.5%	80,000	-11.1%	0.53%	+9.1%
HOG	Buy	HARLEY DAVIDSON INC	$3,953,000	+121.7%	82,000	+148.5%	0.51%	+125.7%
WBA	New	WALGREENS BOOTS ALLIANCE INC	$3,784,000	–	49,000	–	0.49%	–
AGCO	Buy	AGCO CORP	$3,765,000	+36.1%	51,040	+24.4%	0.48%	+38.2%
COH	Sell	COACH INC	$3,746,000	-30.6%	93,000	-18.4%	0.48%	-29.5%
DIN	Buy	DINEEQUITY INC	$3,649,000	+8.3%	84,900	+11.0%	0.47%	+9.8%
OMC	New	OMNICOM GROUP INC	$3,629,000	–	49,000	–	0.47%	–
ISRG	Sell	INTUITIVE SURGICAL INC	$3,556,000	-9.5%	3,400	-19.0%	0.46%	-8.2%
BEN	Sell	FRANKLIN RES INC	$3,547,000	-33.8%	79,700	-33.4%	0.46%	-32.9%
KMB	New	KIMBERLY CLARK CORP	$3,530,000	–	30,000	–	0.46%	–
BAX	Sell	BAXTER INTL INC	$3,389,000	-15.2%	54,000	-18.2%	0.44%	-13.8%
GLW	Sell	CORNING INC	$3,312,000	-13.6%	110,700	-13.2%	0.43%	-12.3%
NTUS	Sell	NATUS MEDICAL INC DEL	$3,233,000	-0.2%	86,200	-0.7%	0.42%	+1.5%
PBH	Buy	PRESTIGE BRANDS HLDGS INC	$2,993,000	+19.5%	59,750	+26.0%	0.39%	+21.4%
MLR	Buy	MILLER INDS INC TENN	$2,318,000	+13.6%	82,946	+1.0%	0.30%	+15.4%
FSS	Sell	FEDERAL SIGNAL CORP	$2,269,000	-10.0%	106,620	-26.5%	0.29%	-8.4%
WNC	Buy	WABASH NATL CORP	$2,127,000	+70.0%	93,200	+63.8%	0.27%	+72.3%
BLBD	Buy	BLUE BIRD CORP	$2,060,000	+56.2%	100,010	+28.9%	0.27%	+59.3%
HELE	Buy	HELEN OF TROY CORP LTD	$2,039,000	+33.3%	21,040	+29.4%	0.26%	+35.6%
CVX	New	CHEVRON CORP NEW	$1,998,000	–	17,000	–	0.26%	–
SYKE	Buy	SYKES ENTERPRISES INC	$1,742,000	+40.4%	59,750	+61.5%	0.22%	+42.4%
LNCE	New	SNYDERS-LANCE INC	$1,367,000	–	35,850	–	0.18%	–
PKOH	Buy	PARK OHIO HLDGS CORP	$1,251,000	+50.0%	27,428	+25.3%	0.16%	+51.9%
CENTA	New	CENTRAL GARDEN & PET COcl a non-vtg	$1,016,000	–	27,321	–	0.13%	–
VSH	Exit	VISHAY INTERTECHNOLOGY INC	$0	–	-55,004	–	-0.12%	–
VFC	Exit	V F CORP	$0	–	-33,000	–	-0.24%	–
PBPB	Exit	POTBELLY CORP	$0	–	-243,540	–	-0.36%	–
FTDCQ	Exit	FTD COS INC	$0	–	-143,950	–	-0.36%	–
ATRO	Exit	ASTRONICS CORP	$0	–	-94,780	–	-0.37%	–
HLIT	Exit	HARMONIC INC	$0	–	-649,401	–	-0.43%	–
CECE	Exit	CECO ENVIRONMENTAL CORP	$0	–	-394,750	–	-0.46%	–
BIG	Exit	BIG LOTS INC	$0	–	-97,710	–	-0.60%	–
IPGP	Exit	IPG PHOTONICS CORP	$0	–	-54,325	–	-1.00%	–
BBBY	Exit	BED BATH & BEYOND INC	$0	–	-294,600	–	-1.14%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-332,900	–	-1.14%	–
SNI	Exit	SCRIPPS NETWORKS INTERACT IN	$0	–	-208,380	–	-1.81%	–

Q2 2017

			Value		Shares		↓ Weighting
GOOG	New	ALPHABET INCcap stk cl c	$19,083,000	–	21,000	–	2.42%	–
ORCL	New	ORACLE CORP	$17,148,000	–	342,000	–	2.18%	–
AAPL	New	APPLE INC	$16,274,000	–	113,000	–	2.07%	–
WCC	New	WESCO INTL INC	$15,354,000	–	267,950	–	1.95%	–
KEYS	New	KEYSIGHT TECHNOLOGIES INC	$15,094,000	–	387,725	–	1.92%	–
VWR	New	VWR CORP	$14,892,000	–	451,124	–	1.89%	–
SNI	New	SCRIPPS NETWORKS INTERACT IN	$14,234,000	–	208,380	–	1.81%	–
ZBH	New	ZIMMER HLDGS INC	$14,222,000	–	110,760	–	1.80%	–
LM	New	LEGG MASON INC	$13,082,000	–	342,820	–	1.66%	–
SEAS	New	SEAWORLD ENTMT INC	$12,478,000	–	766,940	–	1.58%	–
PDCO	New	PATTERSON COMPANIES INC	$12,242,000	–	260,750	–	1.55%	–
OI	New	OWENS ILL INC	$12,164,000	–	508,540	–	1.54%	–
SRCL	New	STERICYCLE INC	$11,970,000	–	156,835	–	1.52%	–
PB	New	PROSPERITY BANCSHARES INC	$11,555,000	–	179,880	–	1.47%	–
SAVE	New	SPIRIT AIRLS INC	$11,550,000	–	223,622	–	1.47%	–
CFG	New	CITIZENS FINL GROUP INC	$11,379,000	–	318,930	–	1.44%	–
ZBRA	New	ZEBRA TECHNOLOGIES CORPcl a	$11,320,000	–	112,610	–	1.44%	–
WRK	New	WESTROCK CO	$10,735,000	–	189,459	–	1.36%	–
IVZ	New	INVESCO LTD	$10,508,000	–	298,600	–	1.33%	–
CVS	New	CVS CAREMARK CORPORATION	$10,051,000	–	124,925	–	1.28%	–
V	New	VISA INC	$10,034,000	–	107,000	–	1.27%	–
DISCK	New	DISCOVERY COMMUNICATIONS NEW	$9,858,000	–	391,040	–	1.25%	–
CNDT	New	CONDUENT INC	$9,464,000	–	593,700	–	1.20%	–
SERV	New	SERVICEMASTER GLOBAL HLDGS I	$9,448,000	–	241,080	–	1.20%	–
RBC	New	REGAL-BELOIT CORP	$9,264,000	–	113,600	–	1.18%	–
GM	New	GENERAL MTRS CO	$9,239,000	–	264,500	–	1.17%	–
EBAY	New	EBAY INC	$9,184,000	–	263,000	–	1.17%	–
GBX	New	GREENBRIER COS INC	$9,184,000	–	198,574	–	1.17%	–
SKX	New	SKECHERS U S A INCcl a	$9,015,000	–	305,600	–	1.14%	–
GE	New	GENERAL ELECTRIC CO	$8,992,000	–	332,900	–	1.14%	–
BBBY	New	BED BATH & BEYOND INC	$8,956,000	–	294,600	–	1.14%	–
DAL	New	DELTA AIR LINES INC DEL	$8,829,000	–	164,300	–	1.12%	–
FOX	New	TWENTY FIRST CENTY FOX INCcl b	$8,723,000	–	313,000	–	1.11%	–
AXP	New	AMERICAN EXPRESS CO	$8,366,000	–	99,306	–	1.06%	–
MSFT	New	MICROSOFT CORP	$8,272,000	–	120,000	–	1.05%	–
MDT	New	MEDTRONIC PLC	$8,090,000	–	91,150	–	1.03%	–
AXTA	New	AXALTA COATING SYS LTD	$7,945,000	–	247,959	–	1.01%	–
IPGP	New	IPG PHOTONICS CORP	$7,883,000	–	54,325	–	1.00%	–
UTX	New	UNITED TECHNOLOGIES CORP	$7,815,000	–	64,000	–	0.99%	–
CRL	New	CHARLES RIV LABS INTL INC	$7,802,000	–	77,135	–	0.99%	–
CMCSA	New	COMCAST CORP NEWcl a	$7,784,000	–	200,000	–	0.99%	–
WDC	New	WESTERN DIGITAL CORP	$7,664,000	–	86,500	–	0.97%	–
JBLU	New	JETBLUE AIRWAYS CORP	$7,641,000	–	334,700	–	0.97%	–
3106PS	New	DELPHI AUTOMOTIVE PLC	$7,450,000	–	85,000	–	0.95%	–
COTY	New	COTY INC	$7,429,000	–	396,000	–	0.94%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$7,410,000	–	67,000	–	0.94%	–
DIS	New	DISNEY WALT CO	$7,278,000	–	68,500	–	0.92%	–
SNA	New	SNAP ON INC	$7,252,000	–	45,900	–	0.92%	–
BK	New	BANK NEW YORK MELLON CORP	$7,239,000	–	141,888	–	0.92%	–
AON	New	AON PLC	$6,847,000	–	51,500	–	0.87%	–
VIAB	New	VIACOM INC NEWcl b	$6,550,000	–	195,100	–	0.83%	–
LOW	New	LOWES COS INC	$6,280,000	–	81,000	–	0.80%	–
WGO	New	WINNEBAGO INDS INC	$6,207,000	–	177,330	–	0.79%	–
FITB	New	FIFTH THIRD BANCORP	$6,023,000	–	232,000	–	0.76%	–
CAT	New	CATERPILLAR INC DEL	$5,964,000	–	55,500	–	0.76%	–
MA	New	MASTERCARD INCcl a	$5,951,000	–	49,000	–	0.76%	–
USB	New	US BANCORP DEL	$5,893,000	–	113,500	–	0.75%	–
CSCO	New	CISCO SYS INC	$5,884,000	–	188,000	–	0.75%	–
FDX	New	FEDEX CORP	$5,868,000	–	27,000	–	0.74%	–
GT	New	GOODYEAR TIRE & RUBR CO	$5,838,000	–	167,000	–	0.74%	–
SPGI	New	S&P GLOBAL INC	$5,840,000	–	40,000	–	0.74%	–
HRC	New	HILL ROM HLDGS INC	$5,751,000	–	72,240	–	0.73%	–
PRU	New	PRUDENTIAL FINL INC	$5,623,000	–	52,000	–	0.71%	–
ST	New	SENSATA TECHNOLOGIES HLDG NV	$5,585,000	–	130,725	–	0.71%	–
MCO	New	MOODYS CORP	$5,512,000	–	45,300	–	0.70%	–
DHR	New	DANAHER CORP DEL	$5,485,000	–	65,000	–	0.70%	–
COH	New	COACH INC	$5,397,000	–	114,000	–	0.68%	–
UNH	New	UNITEDHEALTH GROUP INC	$5,377,000	–	29,000	–	0.68%	–
UHS	New	UNIVERSAL HLTH SVCS INCcl b	$5,372,000	–	44,000	–	0.68%	–
BEN	New	FRANKLIN RES INC	$5,361,000	–	119,700	–	0.68%	–
NWL	New	NEWELL RUBBERMAID INC	$5,362,000	–	100,000	–	0.68%	–
BDX	New	BECTON DICKINSON & CO	$5,287,000	–	27,100	–	0.67%	–
CVG	New	CONVERGYS CORP	$5,267,000	–	221,500	–	0.67%	–
MMC	New	MARSH & MCLENNAN COS INC	$5,223,000	–	67,000	–	0.66%	–
HRL	New	HORMEL FOODS CORP	$5,185,000	–	152,000	–	0.66%	–
SJM	New	SMUCKER J M CO	$5,171,000	–	43,700	–	0.66%	–
TRV	New	TRAVELERS COMPANIES INC	$5,061,000	–	40,000	–	0.64%	–
BBT	New	BB&T CORP	$5,041,000	–	111,000	–	0.64%	–
TXN	New	TEXAS INSTRS INC	$5,039,000	–	65,500	–	0.64%	–
INTC	New	INTEL CORP	$5,027,000	–	149,000	–	0.64%	–
PG	New	PROCTOR & GAMBLE CO	$4,968,000	–	57,000	–	0.63%	–
BIG	New	BIG LOTS INC	$4,719,000	–	97,710	–	0.60%	–
PEP	New	PEPSICO INC	$4,389,000	–	38,000	–	0.56%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$4,307,000	–	28,000	–	0.55%	–
HOLX	New	HOLOGIC INC	$4,152,000	–	91,500	–	0.53%	–
XPER	New	XPERI CORP	$4,085,000	–	137,070	–	0.52%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$4,013,000	–	23,000	–	0.51%	–
BAX	New	BAXTER INTL INC	$3,996,000	–	66,000	–	0.51%	–
ISRG	New	INTUITIVE SURGICAL INC	$3,929,000	–	4,200	–	0.50%	–
NKE	New	NIKE INCcl b	$3,894,000	–	66,000	–	0.49%	–
XOM	New	EXXON MOBIL CORP	$3,875,000	–	48,000	–	0.49%	–
GLW	New	CORNING INC	$3,834,000	–	127,600	–	0.49%	–
BWA	New	BORGWARNER INC	$3,812,000	–	90,000	–	0.48%	–
CECE	New	CECO ENVIRONMENTAL CORP	$3,624,000	–	394,750	–	0.46%	–
HLIT	New	HARMONIC INC	$3,409,000	–	649,401	–	0.43%	–
DIN	New	DINEEQUITY INC	$3,370,000	–	76,500	–	0.43%	–
NTUS	New	NATUS MEDICAL INC DEL	$3,239,000	–	86,845	–	0.41%	–
ATRO	New	ASTRONICS CORP	$2,888,000	–	94,780	–	0.37%	–
FTDCQ	New	FTD COS INC	$2,879,000	–	143,950	–	0.36%	–
PBPB	New	POTBELLY CORP	$2,801,000	–	243,540	–	0.36%	–
AGCO	New	AGCO CORP	$2,766,000	–	41,040	–	0.35%	–
ZTS	New	ZOETIS INCcl a	$2,745,000	–	44,000	–	0.35%	–
LCUT	New	LIFETIME BRANDS INC	$2,618,000	–	144,263	–	0.33%	–
FSS	New	FEDERAL SIGNAL CORP	$2,520,000	–	145,150	–	0.32%	–
PBH	New	PRESTIGE BRANDS HLDGS INC	$2,504,000	–	47,410	–	0.32%	–
MAT	New	MATTEL INC	$2,442,000	–	113,400	–	0.31%	–
MLR	New	MILLER INDS INC TENN	$2,040,000	–	82,086	–	0.26%	–
VFC	New	V F CORP	$1,901,000	–	33,000	–	0.24%	–
HOG	New	HARLEY DAVIDSON INC	$1,783,000	–	33,000	–	0.23%	–
HELE	New	HELEN OF TROY CORP LTD	$1,530,000	–	16,260	–	0.19%	–
BLBD	New	BLUE BIRD CORP	$1,319,000	–	77,568	–	0.17%	–
WNC	New	WABASH NATL CORP	$1,251,000	–	56,900	–	0.16%	–
SYKE	New	SYKES ENTERPRISES INC	$1,241,000	–	37,000	–	0.16%	–
VSH	New	VISHAY INTERTECHNOLOGY INC	$913,000	–	55,004	–	0.12%	–
PKOH	New	PARK OHIO HLDGS CORP	$834,000	–	21,890	–	0.11%	–

Q4 2016

			Value		Shares		↓ Weighting
WNC	Exit	WABASH NATL CORP	$0	–	-91,410	–	-0.17%	–
HIBB	Exit	HIBBETT SPORTS INC	$0	–	-37,100	–	-0.20%	–
FSS	Exit	FEDERAL SIGNAL CORP	$0	–	-112,600	–	-0.20%	–
CYNO	Exit	CYNOSURE INCcl a	$0	–	-29,875	–	-0.20%	–
TSRA	Exit	TESSERA TECHNOLOGIES INC	$0	–	-40,000	–	-0.20%	–
JBSS	Exit	SANFILIPPO JOHN B & SON INC	$0	–	-34,257	–	-0.23%	–
BHI	Exit	BAKER HUGHES INC	$0	–	-41,000	–	-0.27%	–
NTUS	Exit	NATUS MEDICAL INC DEL	$0	–	-55,850	–	-0.29%	–
ATRO	Exit	ASTRONICS CORP	$0	–	-51,360	–	-0.30%	–
MLR	Exit	MILLER INDS INC TENN	$0	–	-104,575	–	-0.31%	–
TOWN	Exit	TOWNEBANK PORTSMOUTH VA	$0	–	-100,025	–	-0.32%	–
FDX	Exit	FEDEX CORP	$0	–	-14,000	–	-0.32%	–
FTDCQ	Exit	FTD COS INC	$0	–	-120,579	–	-0.33%	–
NOVT	Exit	NOVANTA INC	$0	–	-146,055	–	-0.33%	–
HLIT	Exit	HARMONIC INC	$0	–	-452,100	–	-0.35%	–
LCUT	Exit	LIFETIME BRANDS INC	$0	–	-212,698	–	-0.38%	–
PG	Exit	PROCTOR & GAMBLE CO	$0	–	-36,000	–	-0.42%	–
PKG	Exit	PACKAGING CORP AMER	$0	–	-40,400	–	-0.43%	–
SNA	Exit	SNAP ON INC	$0	–	-22,000	–	-0.44%	–
COH	Exit	COACH INC	$0	–	-94,000	–	-0.45%	–
ZTS	Exit	ZOETIS INCcl a	$0	–	-66,000	–	-0.45%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-30,000	–	-0.47%	–
XYL	Exit	XYLEM INC	$0	–	-69,000	–	-0.48%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-47,000	–	-0.48%	–
VSH	Exit	VISHAY INTERTECHNOLOGY INC	$0	–	-262,450	–	-0.49%	–
CF	Exit	CF INDS HLDGS INC	$0	–	-153,000	–	-0.49%	–
SYK	Exit	STRYKER CORP	$0	–	-32,000	–	-0.49%	–
PEP	Exit	PEPSICO INC	$0	–	-38,000	–	-0.54%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-47,000	–	-0.55%	–
UHS	Exit	UNIVERSAL HLTH SVCS INCcl b	$0	–	-34,000	–	-0.55%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-48,432	–	-0.55%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-84,000	–	-0.58%	–
SXT	Exit	SENSIENT TECHNOLOGIES CORP	$0	–	-59,315	–	-0.59%	–
CECE	Exit	CECO ENVIRONMENTAL CORP	$0	–	-408,350	–	-0.61%	–
PBPB	Exit	POTBELLY CORP	$0	–	-374,100	–	-0.61%	–
LOW	Exit	LOWES COS INC	$0	–	-65,000	–	-0.62%	–
TRV	Exit	TRAVELERS COMPANIES INC	$0	–	-41,000	–	-0.62%	–
VWR	Exit	VWR CORP	$0	–	-168,239	–	-0.63%	–
IR	Exit	INGERSOLL-RAND PLC	$0	–	-71,000	–	-0.64%	–
MMC	Exit	MARSH & MCLENNAN COS INC	$0	–	-72,000	–	-0.64%	–
GLW	Exit	CORNING INC	$0	–	-208,100	–	-0.65%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-76,000	–	-0.66%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-7,000	–	-0.67%	–
VSTO	Exit	VISTA OUTDOOR INC	$0	–	-133,230	–	-0.70%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-54,000	–	-0.72%	–
T	Exit	AT&T INC	$0	–	-137,000	–	-0.73%	–
BIG	Exit	BIG LOTS INC	$0	–	-120,370	–	-0.76%	–
INTC	Exit	INTEL CORP	$0	–	-158,800	–	-0.79%	–
AAPL	Exit	APPLE INC	$0	–	-53,000	–	-0.79%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-204,600	–	-0.80%	–
KORS	Exit	MICHAEL KORS HLDGS LTD	$0	–	-136,000	–	-0.84%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-36,100	–	-0.85%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-60,000	–	-0.86%	–
V	Exit	VISA INC	$0	–	-82,000	–	-0.89%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-49,000	–	-0.90%	–
BBT	Exit	BB&T CORP	$0	–	-182,000	–	-0.90%	–
SRCL	Exit	STERICYCLE INC	$0	–	-86,000	–	-0.91%	–
OSK	Exit	OSHKOSH CORP	$0	–	-123,914	–	-0.91%	–
CRL	Exit	CHARLES RIV LABS INTL INC	$0	–	-85,625	–	-0.94%	–
HOLX	Exit	HOLOGIC INC	$0	–	-187,000	–	-0.96%	–
SEAS	Exit	SEAWORLD ENTMT INC	$0	–	-544,495	–	-0.97%	–
SNI	Exit	SCRIPPS NETWORKS INTERACT IN	$0	–	-116,000	–	-0.97%	–
VIAB	Exit	VIACOM INC NEWcl b	$0	–	-194,000	–	-0.97%	–
IPGP	Exit	IPG PHOTONICS CORP	$0	–	-93,315	–	-1.01%	–
FITB	Exit	FIFTH THIRD BANCORP	$0	–	-390,899	–	-1.05%	–
BEN	Exit	FRANKLIN RES INC	$0	–	-225,000	–	-1.05%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-125,000	–	-1.05%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-209,000	–	-1.10%	–
3106PS	Exit	DELPHI AUTOMOTIVE PLC	$0	–	-117,000	–	-1.10%	–
FOX	Exit	TWENTY FIRST CENTY FOX INCcl b	$0	–	-341,000	–	-1.11%	–
AON	Exit	AON PLC	$0	–	-75,000	–	-1.11%	–
M	Exit	MACYS INC	$0	–	-229,000	–	-1.12%	–
DIS	Exit	DISNEY WALT CO	$0	–	-92,000	–	-1.12%	–
ZBH	Exit	ZIMMER HLDGS INC	$0	–	-66,000	–	-1.13%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-85,000	–	-1.14%	–
WEN	Exit	WENDYS CO	$0	–	-801,445	–	-1.14%	–
CSCO	Exit	CISCO SYS INC	$0	–	-275,605	–	-1.15%	–
USB	Exit	US BANCORP DEL	$0	–	-207,500	–	-1.17%	–
JBLU	Exit	JETBLUE AIRWAYS CORP	$0	–	-527,000	–	-1.20%	–
KSS	Exit	KOHLS CORP	$0	–	-210,000	–	-1.21%	–
EBAY	Exit	EBAY INC	$0	–	-287,000	–	-1.24%	–
CVS	Exit	CVS CAREMARK CORPORATION	$0	–	-108,000	–	-1.26%	–
GM	Exit	GENERAL MTRS CO	$0	–	-310,000	–	-1.30%	–
WRK	Exit	WESTROCK CO	$0	–	-206,395	–	-1.32%	–
ESRX	Exit	EXPRESS SCRIPTS HLDG CO	$0	–	-142,000	–	-1.32%	–
DSW	Exit	DSW INCcl a	$0	–	-495,480	–	-1.34%	–
DISCK	Exit	DISCOVERY COMMUNICATIONS NEW	$0	–	-386,040	–	-1.34%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-177,000	–	-1.34%	–
ORCL	Exit	ORACLE CORP	$0	–	-272,000	–	-1.41%	–
DAL	Exit	DELTA AIR LINES INC DEL	$0	–	-272,000	–	-1.41%	–
PDCO	Exit	PATTERSON COMPANIES INC	$0	–	-273,915	–	-1.66%	–
IVZ	Exit	INVESCO LTD	$0	–	-403,432	–	-1.66%	–
RBC	Exit	REGAL-BELOIT CORP	$0	–	-212,900	–	-1.67%	–
WCC	Exit	WESCO INTL INC	$0	–	-210,350	–	-1.70%	–
JNS	Exit	JANUS CAP GROUP INC	$0	–	-979,520	–	-1.81%	–
DDS	Exit	DILLARDS INCcl a	$0	–	-218,575	–	-1.81%	–
BBBY	Exit	BED BATH & BEYOND INC	$0	–	-340,555	–	-1.93%	–
CFG	Exit	CITIZENS FINL GROUP INC	$0	–	-601,540	–	-1.96%	–
GBX	Exit	GREENBRIER COS INC	$0	–	-421,290	–	-1.96%	–
OI	Exit	OWENS ILL INC	$0	–	-819,485	–	-1.98%	–
VSI	Exit	VITAMIN SHOPPE INC	$0	–	-587,745	–	-2.08%	–
KEYS	Exit	KEYSIGHT TECHNOLOGIES INC	$0	–	-497,975	–	-2.08%	–
SAVE	Exit	SPIRIT AIRLS INC	$0	–	-371,090	–	-2.08%	–
HAR	Exit	HARMAN INTL INDS INC	$0	–	-198,300	–	-2.20%	–
ZBRA	Exit	ZEBRA TECHNOLOGIES CORPcl a	$0	–	-255,650	–	-2.34%	–
LM	Exit	LEGG MASON INC	$0	–	-564,550	–	-2.49%	–

Q3 2016

			Value		Shares		↓ Weighting
LM	Buy	LEGG MASON INC	$18,901,000	+14.8%	564,550	+1.1%	2.49%	+11.8%
ZBRA	Sell	ZEBRA TECHNOLOGIES CORPcl a	$17,796,000	+7.5%	255,650	-22.7%	2.34%	+4.6%
HAR	Sell	HARMAN INTL INDS INC	$16,746,000	-0.8%	198,300	-15.6%	2.20%	-3.4%
SAVE	Buy	SPIRIT AIRLS INC	$15,782,000	+5.1%	371,090	+10.8%	2.08%	+2.3%
VSI	Buy	VITAMIN SHOPPE INC	$15,781,000	-3.5%	587,745	+9.9%	2.08%	-6.1%
KEYS	Sell	KEYSIGHT TECHNOLOGIES INC	$15,781,000	-0.8%	497,975	-9.0%	2.08%	-3.5%
OI	Buy	OWENS ILL INC	$15,070,000	+17.9%	819,485	+15.5%	1.98%	+14.8%
GBX	Sell	GREENBRIER COS INC	$14,872,000	-2.7%	421,290	-19.7%	1.96%	-5.2%
CFG	Buy	CITIZENS FINL GROUP INC	$14,864,000	+31.4%	601,540	+6.2%	1.96%	+27.9%
BBBY	Buy	BED BATH & BEYOND INC	$14,681,000	+5.8%	340,555	+6.1%	1.93%	+3.0%
DDS	Sell	DILLARDS INCcl a	$13,772,000	-3.2%	218,575	-6.9%	1.81%	-5.7%
JNS	Buy	JANUS CAP GROUP INC	$13,723,000	+0.8%	979,520	+0.1%	1.81%	-1.9%
WCC	Sell	WESCO INTL INC	$12,934,000	+16.1%	210,350	-2.7%	1.70%	+13.1%
RBC	Sell	REGAL-BELOIT CORP	$12,665,000	+2.0%	212,900	-5.6%	1.67%	-0.7%
IVZ	Sell	INVESCO LTD	$12,615,000	+11.2%	403,432	-9.1%	1.66%	+8.3%
PDCO	Buy	PATTERSON COMPANIES INC	$12,584,000	+7.1%	273,915	+11.6%	1.66%	+4.3%
DAL	Buy	DELTA AIR LINES INC DEL	$10,706,000	+24.5%	272,000	+15.3%	1.41%	+21.3%
ORCL	Buy	ORACLE CORP	$10,684,000	-2.2%	272,000	+1.9%	1.41%	-4.8%
DISCK	Buy	DISCOVERY COMMUNICATIONS NEW	$10,157,000	+26.0%	386,040	+14.2%	1.34%	+22.7%
DSW	Sell	DSW INCcl a	$10,147,000	-15.5%	495,480	-12.6%	1.34%	-17.7%
ESRX	Buy	EXPRESS SCRIPTS HLDG CO	$10,015,000	+0.8%	142,000	+8.3%	1.32%	-1.9%
WRK	Sell	WESTROCK CO	$10,006,000	-21.2%	206,395	-36.8%	1.32%	-23.3%
GM	Buy	GENERAL MTRS CO	$9,849,000	+13.4%	310,000	+1.0%	1.30%	+10.3%
CVS	Buy	CVS CAREMARK CORPORATION	$9,611,000	+10.3%	108,000	+18.7%	1.26%	+7.4%
EBAY	Buy	EBAY INC	$9,442,000	+45.6%	287,000	+3.6%	1.24%	+41.7%
KSS	Sell	KOHLS CORP	$9,188,000	-16.4%	210,000	-27.6%	1.21%	-18.7%
JBLU	Buy	JETBLUE AIRWAYS CORP	$9,085,000	+20.8%	527,000	+16.1%	1.20%	+17.7%
USB	Sell	US BANCORP DEL	$8,900,000	+1.5%	207,500	-4.6%	1.17%	-1.2%
CSCO	Sell	CISCO SYS INC	$8,742,000	-10.3%	275,605	-18.8%	1.15%	-12.6%
WEN	Buy	WENDYS CO	$8,656,000	+12.3%	801,445	+0.0%	1.14%	+9.3%
ZBH	Sell	ZIMMER HLDGS INC	$8,581,000	-6.2%	66,000	-13.2%	1.13%	-8.6%
DIS	Buy	DISNEY WALT CO	$8,543,000	+6.5%	92,000	+12.2%	1.12%	+3.8%
M	Sell	MACYS INC	$8,484,000	-17.0%	229,000	-24.7%	1.12%	-19.1%
AON	Sell	AON PLC	$8,437,000	-13.2%	75,000	-15.7%	1.11%	-15.4%
FOX	Buy	TWENTY FIRST CENTY FOX INCcl b	$8,436,000	+33.4%	341,000	+47.0%	1.11%	+29.8%
3106PS	Buy	DELPHI AUTOMOTIVE PLC	$8,344,000	+15.9%	117,000	+1.7%	1.10%	+12.8%
AXP	Buy	AMERICAN EXPRESS CO	$8,005,000	+13.6%	125,000	+7.8%	1.05%	+10.6%
FITB	Sell	FIFTH THIRD BANCORP	$7,998,000	-7.0%	390,899	-20.1%	1.05%	-9.5%
IPGP	Buy	IPG PHOTONICS CORP	$7,684,000	+8.2%	93,315	+5.1%	1.01%	+5.3%
VIAB	Buy	VIACOM INC NEWcl b	$7,391,000	-4.2%	194,000	+4.3%	0.97%	-6.7%
SNI	Buy	SCRIPPS NETWORKS INTERACT IN	$7,365,000	+25.8%	116,000	+23.4%	0.97%	+22.5%
SEAS	Buy	SEAWORLD ENTMT INC	$7,340,000	+33.4%	544,495	+41.8%	0.97%	+29.8%
CRL	Buy	CHARLES RIV LABS INTL INC	$7,136,000	+54.9%	85,625	+53.2%	0.94%	+50.7%
OSK	Sell	OSHKOSH CORP	$6,939,000	-28.4%	123,914	-39.0%	0.91%	-30.4%
SRCL	New	STERICYCLE INC	$6,892,000	–	86,000	–	0.91%	–
BBT	Sell	BB&T CORP	$6,865,000	-18.3%	182,000	-22.9%	0.90%	-20.4%
UNH	Buy	UNITEDHEALTH GROUP INC	$6,860,000	+5.6%	49,000	+6.5%	0.90%	+2.8%
V	Sell	VISA INC	$6,781,000	+3.9%	82,000	-6.8%	0.89%	+1.2%
BDX	Sell	BECTON DICKINSON & CO	$6,488,000	-16.8%	36,100	-21.5%	0.85%	-19.1%
GE	Sell	GENERAL ELECTRIC CO	$6,060,000	-12.5%	204,600	-7.0%	0.80%	-14.7%
INTC	Sell	INTEL CORP	$5,995,000	-13.0%	158,800	-24.4%	0.79%	-15.3%
BIG	Sell	BIG LOTS INC	$5,748,000	-35.0%	120,370	-31.8%	0.76%	-36.7%
T	Sell	AT&T INC	$5,564,000	-15.3%	137,000	-9.9%	0.73%	-17.6%
MA	Sell	MASTERCARD INCcl a	$5,496,000	+11.5%	54,000	-3.6%	0.72%	+8.4%
VSTO	New	VISTA OUTDOOR INC	$5,311,000	–	133,230	–	0.70%	–
ISRG	Sell	INTUITIVE SURGICAL INC	$5,074,000	-4.1%	7,000	-12.5%	0.67%	-6.6%
CMCSA	Sell	COMCAST CORP NEWcl a	$5,042,000	-12.1%	76,000	-13.6%	0.66%	-14.4%
GLW	Sell	CORNING INC	$4,922,000	-23.2%	208,100	-33.5%	0.65%	-25.3%
MMC	Sell	MARSH & MCLENNAN COS INC	$4,842,000	-5.7%	72,000	-4.0%	0.64%	-8.2%
IR	Sell	INGERSOLL-RAND PLC	$4,824,000	+3.8%	71,000	-2.7%	0.64%	+1.1%
VWR	New	VWR CORP	$4,771,000	–	168,239	–	0.63%	–
LOW	Buy	LOWES COS INC	$4,694,000	-5.9%	65,000	+3.2%	0.62%	-8.3%
TRV	Sell	TRAVELERS COMPANIES INC	$4,697,000	-8.5%	41,000	-4.9%	0.62%	-11.0%
PBPB	Buy	POTBELLY CORP	$4,650,000	+0.1%	374,100	+1.0%	0.61%	-2.5%
CECE	Sell	CECO ENVIRONMENTAL CORP	$4,606,000	-13.9%	408,350	-33.3%	0.61%	-16.2%
SXT	Sell	SENSIENT TECHNOLOGIES CORP	$4,496,000	-5.7%	59,315	-11.7%	0.59%	-8.2%
VZ	Sell	VERIZON COMMUNICATIONS INC	$4,366,000	-18.6%	84,000	-12.5%	0.58%	-20.7%
MDT	Sell	MEDTRONIC PLC	$4,185,000	-26.9%	48,432	-26.6%	0.55%	-28.8%
UHS	Buy	UNIVERSAL HLTH SVCS INCcl b	$4,189,000	+30.2%	34,000	+41.7%	0.55%	+26.7%
CAT	New	CATERPILLAR INC DEL	$4,172,000	–	47,000	–	0.55%	–
PEP	Sell	PEPSICO INC	$4,133,000	-15.2%	38,000	-17.4%	0.54%	-17.5%
CF	New	CF INDS HLDGS INC	$3,726,000	–	153,000	–	0.49%	–
SYK	Sell	STRYKER CORP	$3,725,000	-18.2%	32,000	-15.8%	0.49%	-20.5%
VSH	Sell	VISHAY INTERTECHNOLOGY INC	$3,698,000	0.0%	262,450	-12.1%	0.49%	-2.6%
DHR	New	DANAHER CORP DEL	$3,684,000	–	47,000	–	0.48%	–
XYL	Sell	XYLEM INC	$3,619,000	+14.2%	69,000	-2.8%	0.48%	+11.0%
JNJ	Sell	JOHNSON & JOHNSON	$3,544,000	-28.7%	30,000	-26.8%	0.47%	-30.5%
ZTS	Sell	ZOETIS INCcl a	$3,433,000	-11.8%	66,000	-19.5%	0.45%	-14.1%
COH	Buy	COACH INC	$3,437,000	+36.1%	94,000	+51.6%	0.45%	+32.6%
SNA	New	SNAP ON INC	$3,343,000	–	22,000	–	0.44%	–
PKG	Sell	PACKAGING CORP AMER	$3,283,000	-52.8%	40,400	-61.2%	0.43%	-54.1%
PG	Sell	PROCTOR & GAMBLE CO	$3,231,000	-17.0%	36,000	-21.7%	0.42%	-19.4%
LCUT	Sell	LIFETIME BRANDS INC	$2,863,000	-10.8%	212,698	-3.4%	0.38%	-13.1%
HLIT	Sell	HARMONIC INC	$2,681,000	+10.4%	452,100	-47.0%	0.35%	+7.6%
NOVT	Sell	NOVANTA INC	$2,534,000	-10.8%	146,055	-22.1%	0.33%	-13.0%
FTDCQ	Buy	FTD COS INC	$2,480,000	+8.1%	120,579	+31.2%	0.33%	+5.2%
TOWN	Buy	TOWNEBANK PORTSMOUTH VA	$2,404,000	+11.1%	100,025	+0.1%	0.32%	+7.8%
MLR	Buy	MILLER INDS INC TENN	$2,383,000	+11.0%	104,575	+0.3%	0.31%	+8.3%
ATRO	Sell	ASTRONICS CORP	$2,314,000	+0.8%	51,360	-25.6%	0.30%	-1.6%
NTUS	Sell	NATUS MEDICAL INC DEL	$2,194,000	+1.8%	55,850	-2.1%	0.29%	-0.7%
JBSS	New	SANFILIPPO JOHN B & SON INC	$1,758,000	–	34,257	–	0.23%	–
TSRA	Buy	TESSERA TECHNOLOGIES INC	$1,538,000	+46.2%	40,000	+16.5%	0.20%	+42.3%
CYNO	Sell	CYNOSURE INCcl a	$1,522,000	+3.0%	29,875	-1.6%	0.20%	0.0%
FSS	Sell	FEDERAL SIGNAL CORP	$1,493,000	-5.0%	112,600	-7.7%	0.20%	-7.1%
HIBB	Sell	HIBBETT SPORTS INC	$1,480,000	-16.7%	37,100	-27.3%	0.20%	-18.8%
WNC	Sell	WABASH NATL CORP	$1,302,000	-1.2%	91,410	-11.9%	0.17%	-3.9%
PH	Exit	PARKER HANNIFIN CORP	$0	–	-19,000	–	-0.28%	–
LE	Exit	LANDS END INC NEW	$0	–	-152,970	–	-0.34%	–
KMT	Exit	KENNAMETAL INC	$0	–	-152,508	–	-0.46%	–
BRC	Exit	BRADY CORPcl a	$0	–	-194,149	–	-0.80%	–
PNR	Exit	PENTAIR PLC	$0	–	-105,000	–	-0.83%	–

Q2 2016

			Value		Shares		↓ Weighting
HAR	New	HARMAN INTL INDS INC	$16,876,000	–	234,972	–	2.28%	–
ZBRA	New	ZEBRA TECHNOLOGIES CORPcl a	$16,560,000	–	330,540	–	2.24%	–
LM	New	LEGG MASON INC	$16,467,000	–	558,400	–	2.23%	–
VSI	New	VITAMIN SHOPPE INC	$16,353,000	–	534,945	–	2.21%	–
KEYS	New	KEYSIGHT TECHNOLOGIES INC	$15,916,000	–	547,145	–	2.15%	–
GBX	New	GREENBRIER COS INC	$15,282,000	–	524,620	–	2.07%	–
SAVE	New	SPIRIT AIRLS INC	$15,022,000	–	334,780	–	2.03%	–
DDS	New	DILLARDS INCcl a	$14,220,000	–	234,652	–	1.92%	–
BBBY	New	BED BATH & BEYOND INC	$13,878,000	–	321,110	–	1.88%	–
JNS	New	JANUS CAP GROUP INC	$13,620,000	–	978,420	–	1.84%	–
OI	New	OWENS ILL INC	$12,782,000	–	709,702	–	1.73%	–
WRK	New	WESTROCK CO	$12,698,000	–	326,675	–	1.72%	–
RBC	New	REGAL-BELOIT CORP	$12,415,000	–	225,530	–	1.68%	–
DSW	New	DSW INCcl a	$12,003,000	–	566,705	–	1.62%	–
PDCO	New	PATTERSON COMPANIES INC	$11,749,000	–	245,335	–	1.59%	–
IVZ	New	INVESCO LTD	$11,340,000	–	444,000	–	1.53%	–
CFG	New	CITIZENS FINL GROUP INC	$11,314,000	–	566,290	–	1.53%	–
WCC	New	WESCO INTL INC	$11,137,000	–	216,290	–	1.51%	–
KSS	New	KOHLS CORP	$10,997,000	–	290,000	–	1.49%	–
ORCL	New	ORACLE CORP	$10,928,000	–	267,000	–	1.48%	–
M	New	MACYS INC	$10,217,000	–	304,000	–	1.38%	–
ESRX	New	EXPRESS SCRIPTS HLDG CO	$9,937,000	–	131,100	–	1.34%	–
CSCO	New	CISCO SYS INC	$9,743,000	–	339,605	–	1.32%	–
AON	New	AON PLC	$9,721,000	–	89,000	–	1.31%	–
OSK	New	OSHKOSH CORP	$9,696,000	–	203,229	–	1.31%	–
ZBH	New	ZIMMER HLDGS INC	$9,149,000	–	76,000	–	1.24%	–
MSFT	New	MICROSOFT CORP	$9,057,000	–	177,000	–	1.22%	–
BIG	New	BIG LOTS INC	$8,844,000	–	176,500	–	1.20%	–
USB	New	US BANCORP DEL	$8,772,000	–	217,500	–	1.19%	–
CVS	New	CVS CAREMARK CORPORATION	$8,712,000	–	91,000	–	1.18%	–
UTX	New	UNITED TECHNOLOGIES CORP	$8,717,000	–	85,000	–	1.18%	–
GM	New	GENERAL MTRS CO	$8,688,000	–	307,000	–	1.18%	–
FITB	New	FIFTH THIRD BANCORP	$8,602,000	–	489,000	–	1.16%	–
DAL	New	DELTA AIR LINES INC DEL	$8,597,000	–	236,000	–	1.16%	–
BBT	New	BB&T CORP	$8,404,000	–	236,000	–	1.14%	–
BK	New	BANK NEW YORK MELLON CORP	$8,120,000	–	209,000	–	1.10%	–
DISCK	New	DISCOVERY COMMUNICATIONS NEW	$8,061,000	–	338,000	–	1.09%	–
DIS	New	DISNEY WALT CO	$8,021,000	–	82,000	–	1.08%	–
BDX	New	BECTON DICKINSON & CO	$7,801,000	–	46,000	–	1.06%	–
VIAB	New	VIACOM INC NEWcl b	$7,713,000	–	186,000	–	1.04%	–
WEN	New	WENDYS CO	$7,708,000	–	801,290	–	1.04%	–
JBLU	New	JETBLUE AIRWAYS CORP	$7,518,000	–	454,000	–	1.02%	–
BEN	New	FRANKLIN RES INC	$7,508,000	–	225,000	–	1.02%	–
3106PS	New	DELPHI AUTOMOTIVE PLC	$7,199,000	–	115,000	–	0.97%	–
IPGP	New	IPG PHOTONICS CORP	$7,104,000	–	88,795	–	0.96%	–
AXP	New	AMERICAN EXPRESS CO	$7,048,000	–	116,000	–	0.95%	–
PKG	New	PACKAGING CORP AMER	$6,961,000	–	104,000	–	0.94%	–
GE	New	GENERAL ELECTRIC CO	$6,926,000	–	220,000	–	0.94%	–
INTC	New	INTEL CORP	$6,888,000	–	210,000	–	0.93%	–
KORS	New	MICHAEL KORS HLDGS LTD	$6,729,000	–	136,000	–	0.91%	–
T	New	AT&T INC	$6,568,000	–	152,000	–	0.89%	–
V	New	VISA INC	$6,527,000	–	88,000	–	0.88%	–
UNH	New	UNITEDHEALTH GROUP INC	$6,495,000	–	46,000	–	0.88%	–
EBAY	New	EBAY INC	$6,485,000	–	277,000	–	0.88%	–
HOLX	New	HOLOGIC INC	$6,470,000	–	187,000	–	0.88%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$6,463,000	–	60,000	–	0.87%	–
GLW	New	CORNING INC	$6,410,000	–	313,000	–	0.87%	–
FOX	New	TWENTY FIRST CENTY FOX INCcl b	$6,322,000	–	232,000	–	0.86%	–
PNR	New	PENTAIR PLC	$6,120,000	–	105,000	–	0.83%	–
BRC	New	BRADY CORPcl a	$5,933,000	–	194,149	–	0.80%	–
SNI	New	SCRIPPS NETWORKS INTERACT IN	$5,853,000	–	94,000	–	0.79%	–
CMCSA	New	COMCAST CORP NEWcl a	$5,737,000	–	88,000	–	0.78%	–
MDT	New	MEDTRONIC PLC	$5,727,000	–	66,000	–	0.77%	–
SEAS	New	SEAWORLD ENTMT INC	$5,501,000	–	383,855	–	0.74%	–
VZ	New	VERIZON COMMUNICATIONS INC	$5,361,000	–	96,000	–	0.72%	–
CECE	New	CECO ENVIRONMENTAL CORP	$5,350,000	–	612,095	–	0.72%	–
ISRG	New	INTUITIVE SURGICAL INC	$5,291,000	–	8,000	–	0.72%	–
MMC	New	MARSH & MCLENNAN COS INC	$5,134,000	–	75,000	–	0.69%	–
TRV	New	TRAVELERS COMPANIES INC	$5,131,000	–	43,100	–	0.69%	–
AAPL	New	APPLE INC	$5,067,000	–	53,000	–	0.68%	–
LOW	New	LOWES COS INC	$4,988,000	–	63,000	–	0.67%	–
JNJ	New	JOHNSON & JOHNSON	$4,973,000	–	41,000	–	0.67%	–
MA	New	MASTERCARD INCcl a	$4,931,000	–	56,000	–	0.67%	–
PEP	New	PEPSICO INC	$4,873,000	–	46,000	–	0.66%	–
SXT	New	SENSIENT TECHNOLOGIES CORP	$4,770,000	–	67,140	–	0.64%	–
IR	New	INGERSOLL-RAND PLC	$4,649,000	–	73,000	–	0.63%	–
PBPB	New	POTBELLY CORP	$4,646,000	–	370,470	–	0.63%	–
CRL	New	CHARLES RIV LABS INTL INC	$4,608,000	–	55,901	–	0.62%	–
SYK	New	STRYKER CORP	$4,554,000	–	38,000	–	0.62%	–
PG	New	PROCTOR & GAMBLE CO	$3,895,000	–	46,000	–	0.53%	–
ZTS	New	ZOETIS INCcl a	$3,892,000	–	82,000	–	0.53%	–
VSH	New	VISHAY INTERTECHNOLOGY INC	$3,698,000	–	298,465	–	0.50%	–
KMT	New	KENNAMETAL INC	$3,372,000	–	152,508	–	0.46%	–
UHS	New	UNIVERSAL HLTH SVCS INCcl b	$3,218,000	–	24,000	–	0.44%	–
LCUT	New	LIFETIME BRANDS INC	$3,211,000	–	220,100	–	0.43%	–
XYL	New	XYLEM INC	$3,170,000	–	71,000	–	0.43%	–
NOVT	New	NOVANTA INC	$2,840,000	–	187,480	–	0.38%	–
COH	New	COACH INC	$2,526,000	–	62,000	–	0.34%	–
LE	New	LANDS END INC NEW	$2,512,000	–	152,970	–	0.34%	–
HLIT	New	HARMONIC INC	$2,429,000	–	852,300	–	0.33%	–
ATRO	New	ASTRONICS CORP	$2,296,000	–	69,020	–	0.31%	–
FTDCQ	New	FTD COS INC	$2,294,000	–	91,900	–	0.31%	–
TOWN	New	TOWNEBANK PORTSMOUTH VA	$2,164,000	–	99,950	–	0.29%	–
NTUS	New	NATUS MEDICAL INC DEL	$2,156,000	–	57,025	–	0.29%	–
MLR	New	MILLER INDS INC TENN	$2,147,000	–	104,270	–	0.29%	–
FDX	New	FEDEX CORP	$2,125,000	–	14,000	–	0.29%	–
PH	New	PARKER HANNIFIN CORP	$2,053,000	–	19,000	–	0.28%	–
BHI	New	BAKER HUGHES INC	$1,850,000	–	41,000	–	0.25%	–
HIBB	New	HIBBETT SPORTS INC	$1,776,000	–	51,055	–	0.24%	–
FSS	New	FEDERAL SIGNAL CORP	$1,571,000	–	121,975	–	0.21%	–
CYNO	New	CYNOSURE INCcl a	$1,478,000	–	30,375	–	0.20%	–
WNC	New	WABASH NATL CORP	$1,318,000	–	103,760	–	0.18%	–
TSRA	New	TESSERA TECHNOLOGIES INC	$1,052,000	–	34,345	–	0.14%	–

Q4 2015

			Value		Shares		↓ Weighting
KAI	Exit	KADANT INC	$0	–	-40,000	–	-0.19%	–
HLIT	Exit	HARMONIC INC	$0	–	-380,000	–	-0.27%	–
TOWN	Exit	TOWNEBANK PORTSMOUTH VA	$0	–	-127,500	–	-0.30%	–
MLR	Exit	MILLER INDS INC TENN	$0	–	-130,000	–	-0.32%	–
UHS	Exit	UNIVERSAL HLTH SVCS INCcl b	$0	–	-20,600	–	-0.32%	–
ENTG	Exit	ENTEGRIS INC	$0	–	-196,000	–	-0.32%	–
LE	Exit	LANDS END INC NEW	$0	–	-108,000	–	-0.36%	–
JBLU	Exit	JETBLUE AIRWAYS CORP	$0	–	-113,000	–	-0.36%	–
EFX	Exit	EQUIFAX INC	$0	–	-30,000	–	-0.36%	–
CYNO	Exit	CYNOSURE INCcl a	$0	–	-101,000	–	-0.38%	–
SEE	Exit	SEALED AIR CORP NEW	$0	–	-65,300	–	-0.38%	–
FSS	Exit	FEDERAL SIGNAL CORP	$0	–	-231,000	–	-0.39%	–
FNFG	Exit	FIRST NIAGARA FINL GP INC	$0	–	-325,000	–	-0.41%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-45,000	–	-0.42%	–
WNC	Exit	WABASH NATL CORP	$0	–	-325,000	–	-0.43%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-48,000	–	-0.44%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-75,000	–	-0.45%	–
LCUT	Exit	LIFETIME BRANDS INC	$0	–	-262,000	–	-0.46%	–
BLT	Exit	BLOUNT INTL INC NEW	$0	–	-668,000	–	-0.46%	–
FOXF	Exit	FOX FACTORY HLDG CORP	$0	–	-223,800	–	-0.47%	–
MSM	Exit	MSC INDL DIRECT INCcl a	$0	–	-66,000	–	-0.50%	–
COH	Exit	COACH INC	$0	–	-141,000	–	-0.51%	–
CECE	Exit	CECO ENVIRONMENTAL CORP	$0	–	-505,000	–	-0.52%	–
EBAY	Exit	EBAY INC	$0	–	-173,000	–	-0.53%	–
SMP	Exit	STANDARD MTR PRODS INC	$0	–	-123,600	–	-0.54%	–
CVS	Exit	CVS CAREMARK CORPORATION	$0	–	-45,000	–	-0.54%	–
GSIG	Exit	GSI GROUP INC CDA NEW	$0	–	-346,000	–	-0.55%	–
DAKT	Exit	DAKTRONICS INC	$0	–	-530,000	–	-0.57%	–
SYK	Exit	STRYKER CORP	$0	–	-49,000	–	-0.57%	–
PBPB	Exit	POTBELLY CORP	$0	–	-420,000	–	-0.58%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-49,000	–	-0.60%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-85,000	–	-0.63%	–
JCI	Exit	JOHNSON CTLS INC	$0	–	-124,000	–	-0.64%	–
XYL	Exit	XYLEM INC	$0	–	-158,000	–	-0.65%	–
3106PS	Exit	DELPHI AUTOMOTIVE PLC	$0	–	-70,000	–	-0.66%	–
PH	Exit	PARKER HANNIFIN CORP	$0	–	-55,000	–	-0.67%	–
V	Exit	VISA INC	$0	–	-77,000	–	-0.67%	–
PEP	Exit	PEPSICO INC	$0	–	-58,000	–	-0.68%	–
IR	Exit	INGERSOLL-RAND PLC	$0	–	-109,000	–	-0.69%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-63,000	–	-0.71%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-12,500	–	-0.72%	–
PKG	Exit	PACKAGING CORP AMER	$0	–	-96,800	–	-0.72%	–
RL	Exit	RALPH LAUREN CORPcl a	$0	–	-50,000	–	-0.74%	–
NOV	Exit	NATIONAL OILWELL VARCO INC	$0	–	-163,000	–	-0.76%	–
DOV	Exit	DOVER CORP	$0	–	-111,000	–	-0.79%	–
TRV	Exit	TRAVELERS COMPANIES INC	$0	–	-64,000	–	-0.79%	–
CFG	Exit	CITIZENS FINL GROUP INC	$0	–	-271,000	–	-0.80%	–
ABM	Exit	ABM INDUSTRIES INC	$0	–	-241,000	–	-0.82%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-71,000	–	-0.82%	–
PNR	Exit	PENTAIR PLC	$0	–	-130,000	–	-0.83%	–
LOW	Exit	LOWES COS INC	$0	–	-97,000	–	-0.83%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-118,000	–	-0.84%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-58,000	–	-0.84%	–
VDSI	Exit	VASCO DATA SEC INTL INC	$0	–	-407,300	–	-0.86%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-176,000	–	-0.88%	–
MMC	Exit	MARSH & MCLENNAN COS INC	$0	–	-136,000	–	-0.88%	–
BBBY	Exit	BED BATH & BEYOND INC	$0	–	-126,000	–	-0.90%	–
GLW	Exit	CORNING INC	$0	–	-420,000	–	-0.90%	–
BBT	Exit	BB&T CORP	$0	–	-213,000	–	-0.94%	–
VIAB	Exit	VIACOM INC NEWcl b	$0	–	-178,000	–	-0.96%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-179,000	–	-0.97%	–
DISCK	Exit	DISCOVERY COMMUNICATIONS NEW	$0	–	-323,000	–	-0.98%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-181,000	–	-1.00%	–
SXT	Exit	SENSIENT TECHNOLOGIES CORP	$0	–	-131,000	–	-1.00%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-206,000	–	-1.00%	–
FOX	Exit	TWENTY FIRST CENTY FOX INCcl b	$0	–	-298,000	–	-1.00%	–
DAL	Exit	DELTA AIR LINES INC DEL	$0	–	-180,000	–	-1.01%	–
T	Exit	AT&T INC	$0	–	-251,000	–	-1.02%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-92,000	–	-1.02%	–
GM	Exit	GENERAL MTRS CO	$0	–	-285,000	–	-1.06%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-65,000	–	-1.07%	–
FITB	Exit	FIFTH THIRD BANCORP	$0	–	-459,000	–	-1.08%	–
AAPL	Exit	APPLE INC	$0	–	-80,000	–	-1.10%	–
USB	Exit	US BANCORP DEL	$0	–	-217,500	–	-1.11%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-134,000	–	-1.12%	–
AON	Exit	AON PLC	$0	–	-103,000	–	-1.14%	–
KSS	Exit	KOHLS CORP	$0	–	-199,500	–	-1.15%	–
BEN	Exit	FRANKLIN RES INC	$0	–	-256,000	–	-1.19%	–
ZBRA	Exit	ZEBRA TECHNOLOGIES CORPcl a	$0	–	-126,000	–	-1.20%	–
CSCO	Exit	CISCO SYS INC	$0	–	-376,000	–	-1.23%	–
IVZ	Exit	INVESCO LTD	$0	–	-316,000	–	-1.23%	–
BIG	Exit	BIG LOTS INC	$0	–	-206,900	–	-1.23%	–
FOSL	Exit	FOSSIL GROUP INC	$0	–	-178,000	–	-1.24%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-395,000	–	-1.24%	–
JOY	Exit	JOY GLOBAL INC	$0	–	-672,000	–	-1.25%	–
WEN	Exit	WENDYS CO	$0	–	-1,179,000	–	-1.27%	–
ZBH	Exit	ZIMMER HLDGS INC	$0	–	-111,000	–	-1.30%	–
ORCL	Exit	ORACLE CORP	$0	–	-289,000	–	-1.30%	–
PDCO	Exit	PATTERSON COMPANIES INC	$0	–	-245,000	–	-1.32%	–
BRC	Exit	BRADY CORPcl a	$0	–	-568,000	–	-1.39%	–
RBC	Exit	REGAL-BELOIT CORP	$0	–	-202,000	–	-1.42%	–
ESL	Exit	ESTERLINE TECHNOLOGIES CORP	$0	–	-160,500	–	-1.44%	–
OSK	Exit	OSHKOSH CORP	$0	–	-319,900	–	-1.45%	–
INTC	Exit	INTEL CORP	$0	–	-388,000	–	-1.46%	–
VSH	Exit	VISHAY INTERTECHNOLOGY INC	$0	–	-1,213,357	–	-1.46%	–
OI	Exit	OWENS ILL INC	$0	–	-576,000	–	-1.49%	–
KEYS	Exit	KEYSIGHT TECHNOLOGIES INC	$0	–	-397,000	–	-1.52%	–
ITRI	Exit	ITRON INC	$0	–	-385,000	–	-1.53%	–
WCC	Exit	WESCO INTL INC	$0	–	-265,000	–	-1.53%	–
VSI	Exit	VITAMIN SHOPPE INC	$0	–	-384,000	–	-1.56%	–
DSW	Exit	DSW INCcl a	$0	–	-540,000	–	-1.70%	–
TDC	Exit	TERADATA CORP DEL	$0	–	-485,000	–	-1.75%	–
DDS	Exit	DILLARDS INCcl a	$0	–	-168,100	–	-1.83%	–
JNS	Exit	JANUS CAP GROUP INC	$0	–	-1,081,000	–	-1.83%	–
GBX	Exit	GREENBRIER COS INC	$0	–	-464,000	–	-1.86%	–
HAR	Exit	HARMAN INTL INDS INC	$0	–	-158,000	–	-1.89%	–
LM	Exit	LEGG MASON INC	$0	–	-368,000	–	-1.91%	–
SAVE	Exit	SPIRIT AIRLS INC	$0	–	-348,000	–	-2.05%	–

Q3 2015

			Value		Shares		↓ Weighting
SAVE	Buy	SPIRIT AIRLS INC	$16,460,000	-11.1%	348,000	+16.8%	2.05%	+6.6%
LM	Buy	LEGG MASON INC	$15,312,000	-9.4%	368,000	+12.2%	1.91%	+8.5%
HAR	Buy	HARMAN INTL INDS INC	$15,166,000	-12.1%	158,000	+9.0%	1.89%	+5.4%
GBX	Buy	GREENBRIER COS INC	$14,899,000	-10.2%	464,000	+31.1%	1.86%	+7.7%
JNS	Buy	JANUS CAP GROUP INC	$14,702,000	-2.0%	1,081,000	+23.4%	1.83%	+17.5%
DDS	Buy	DILLARDS INCcl a	$14,690,000	-3.7%	168,100	+15.9%	1.83%	+15.4%
TDC	Buy	TERADATA CORP DEL	$14,046,000	-4.4%	485,000	+22.2%	1.75%	+14.6%
DSW	Buy	DSW INCcl a	$13,667,000	+19.1%	540,000	+57.0%	1.70%	+42.7%
VSI	Buy	VITAMIN SHOPPE INC	$12,534,000	-7.6%	384,000	+5.5%	1.56%	+10.7%
WCC	Buy	WESCO INTL INC	$12,315,000	-22.7%	265,000	+14.2%	1.53%	-7.3%
ITRI	Buy	ITRON INC	$12,285,000	-2.3%	385,000	+5.5%	1.53%	+17.1%
OI	Buy	OWENS ILL INC	$11,935,000	-2.2%	576,000	+8.3%	1.49%	+17.2%
VSH	Buy	VISHAY INTERTECHNOLOGY INC	$11,757,000	-2.6%	1,213,357	+17.3%	1.46%	+16.7%
INTC	Buy	INTEL CORP	$11,694,000	+3.1%	388,000	+4.0%	1.46%	+23.5%
OSK	Sell	OSHKOSH CORP	$11,622,000	-20.5%	319,900	-7.3%	1.45%	-4.7%
ESL	Buy	ESTERLINE TECHNOLOGIES CORP	$11,538,000	+4.3%	160,500	+38.4%	1.44%	+25.0%
RBC	Buy	REGAL-BELOIT CORP	$11,403,000	-16.0%	202,000	+8.0%	1.42%	+0.7%
BRC	Buy	BRADY CORPcl a	$11,167,000	+18.3%	568,000	+48.9%	1.39%	+41.7%
PDCO	Buy	PATTERSON COMPANIES INC	$10,596,000	+5.7%	245,000	+18.9%	1.32%	+26.7%
ORCL	Buy	ORACLE CORP	$10,439,000	-5.8%	289,000	+5.1%	1.30%	+12.9%
ZBH	Buy	ZIMMER HLDGS INC	$10,426,000	+29.0%	111,000	+50.0%	1.30%	+54.5%
WEN	Buy	WENDYS CO	$10,198,000	-19.2%	1,179,000	+5.4%	1.27%	-3.1%
JOY	Buy	JOY GLOBAL INC	$10,033,000	+24.9%	672,000	+202.7%	1.25%	+49.6%
GE	Sell	GENERAL ELECTRIC CO	$9,962,000	-8.6%	395,000	-3.7%	1.24%	+9.5%
FOSL	Buy	FOSSIL GROUP INC	$9,947,000	+3.9%	178,000	+29.0%	1.24%	+24.4%
BIG	Sell	BIG LOTS INC	$9,915,000	-21.0%	206,900	-25.8%	1.23%	-5.4%
CSCO	Buy	CISCO SYS INC	$9,870,000	+1.8%	376,000	+6.5%	1.23%	+22.0%
ZBRA	New	ZEBRA TECHNOLOGIES CORPcl a	$9,645,000	–	126,000	–	1.20%	–
BEN	Buy	FRANKLIN RES INC	$9,539,000	-18.6%	256,000	+7.1%	1.19%	-2.4%
KSS	Buy	KOHLS CORP	$9,239,000	+4.7%	199,500	+41.5%	1.15%	+25.4%
USB	Sell	US BANCORP DEL	$8,920,000	-10.3%	217,500	-5.0%	1.11%	+7.6%
AAPL	Buy	APPLE INC	$8,824,000	-9.8%	80,000	+2.6%	1.10%	+8.2%
FITB	Sell	FIFTH THIRD BANCORP	$8,680,000	-10.1%	459,000	-1.1%	1.08%	+7.7%
BDX	Buy	BECTON DICKINSON & CO	$8,623,000	+24.2%	65,000	+32.7%	1.07%	+49.0%
GM	Buy	GENERAL MTRS CO	$8,556,000	-6.3%	285,000	+4.0%	1.06%	+12.2%
UTX	Buy	UNITED TECHNOLOGIES CORP	$8,187,000	+7.0%	92,000	+33.3%	1.02%	+28.2%
DAL	Sell	DELTA AIR LINES INC DEL	$8,077,000	-25.0%	180,000	-31.3%	1.01%	-10.0%
FOX	Sell	TWENTY FIRST CENTY FOX INCcl b	$8,067,000	-18.7%	298,000	-3.2%	1.00%	-2.6%
BK	Sell	BANK NEW YORK MELLON CORP	$8,065,000	-18.6%	206,000	-12.7%	1.00%	-2.4%
SXT	Sell	SENSIENT TECHNOLOGIES CORP	$8,030,000	-28.4%	131,000	-20.1%	1.00%	-14.1%
MSFT	Buy	MICROSOFT CORP	$8,011,000	+17.8%	181,000	+17.5%	1.00%	+41.2%
DISCK	Buy	DISCOVERY COMMUNICATIONS NEW	$7,846,000	-17.2%	323,000	+5.9%	0.98%	-0.8%
VZ	Buy	VERIZON COMMUNICATIONS INC	$7,788,000	-3.4%	179,000	+3.5%	0.97%	+15.8%
VIAB	Buy	VIACOM INC NEWcl b	$7,681,000	+25.1%	178,000	+87.4%	0.96%	+49.8%
BBT	Sell	BB&T CORP	$7,583,000	-12.9%	213,000	-1.4%	0.94%	+4.3%
BBBY	Buy	BED BATH & BEYOND INC	$7,185,000	-9.4%	126,000	+9.6%	0.90%	+8.6%
GLW	Buy	CORNING INC	$7,190,000	-11.1%	420,000	+2.4%	0.90%	+6.5%
ABT	Buy	ABBOTT LABORATORIES	$7,079,000	-9.3%	176,000	+10.7%	0.88%	+8.6%
VDSI	Buy	VASCO DATA SEC INTL INC	$6,940,000	+159.7%	407,300	+360.2%	0.86%	+210.8%
UNH	Sell	UNITEDHEALTH GROUP INC	$6,729,000	-16.4%	58,000	-12.1%	0.84%	+0.1%
CMCSA	Sell	COMCAST CORP NEWcl a	$6,712,000	-30.2%	118,000	-26.2%	0.84%	-16.4%
LOW	Buy	LOWES COS INC	$6,685,000	+7.3%	97,000	+4.3%	0.83%	+28.6%
PNR	Buy	PENTAIR PLC	$6,635,000	-9.0%	130,000	+22.6%	0.83%	+9.1%
ABM	Sell	ABM INDUSTRIES INC	$6,582,000	-54.7%	241,000	-45.5%	0.82%	-45.7%
CFG	Buy	CITIZENS FINL GROUP INC	$6,466,000	-4.2%	271,000	+9.7%	0.80%	+14.8%
DOV	Buy	DOVER CORP	$6,347,000	-8.6%	111,000	+12.1%	0.79%	+9.4%
NOV	Buy	NATIONAL OILWELL VARCO INC	$6,137,000	+12.5%	163,000	+44.2%	0.76%	+34.7%
RL	Buy	RALPH LAUREN CORPcl a	$5,908,000	-5.0%	50,000	+6.4%	0.74%	+13.9%
PKG	Sell	PACKAGING CORP AMER	$5,823,000	-5.9%	96,800	-2.2%	0.72%	+12.8%
ISRG	Buy	INTUITIVE SURGICAL INC	$5,745,000	-1.2%	12,500	+4.2%	0.72%	+18.4%
MA	Sell	MASTERCARD INCcl a	$5,678,000	-9.3%	63,000	-6.0%	0.71%	+8.6%
IR	Buy	INGERSOLL-RAND PLC	$5,534,000	-12.7%	109,000	+16.0%	0.69%	+4.7%
PEP	Sell	PEPSICO INC	$5,469,000	-5.5%	58,000	-6.5%	0.68%	+13.3%
V	Sell	VISA INC	$5,364,000	-13.2%	77,000	-16.3%	0.67%	+4.0%
XYL	Buy	XYLEM INC	$5,190,000	-2.4%	158,000	+10.2%	0.65%	+17.0%
JCI	Buy	JOHNSON CTLS INC	$5,129,000	+29.5%	124,000	+55.0%	0.64%	+55.1%
TEL	Buy	TE CONNECTIVITY LTD	$5,091,000	-3.5%	85,000	+3.7%	0.63%	+15.7%
UPS	Buy	UNITED PARCEL SERVICE INCcl b	$4,836,000	+10.9%	49,000	+8.9%	0.60%	+32.9%
PBPB	Buy	POTBELLY CORP	$4,624,000	+7.8%	420,000	+20.0%	0.58%	+29.1%
SYK	Sell	STRYKER CORP	$4,611,000	-36.5%	49,000	-35.5%	0.57%	-24.0%
DAKT	Buy	DAKTRONICS INC	$4,595,000	-22.8%	530,000	+5.6%	0.57%	-7.6%
CVS	Sell	CVS CAREMARK CORPORATION	$4,342,000	-27.4%	45,000	-21.1%	0.54%	-12.9%
SMP	Sell	STANDARD MTR PRODS INC	$4,311,000	-6.3%	123,600	-5.6%	0.54%	+12.3%
EBAY	Buy	EBAY INC	$4,228,000	-51.3%	173,000	+20.1%	0.53%	-41.6%
CECE	Buy	CECO ENVIRONMENTAL CORP	$4,136,000	-17.4%	505,000	+14.3%	0.52%	-1.0%
COH	New	COACH INC	$4,079,000	–	141,000	–	0.51%	–
MSM	Buy	MSC INDL DIRECT INCcl a	$4,028,000	-3.8%	66,000	+10.0%	0.50%	+15.2%
FOXF	Sell	FOX FACTORY HLDG CORP	$3,773,000	-1.8%	223,800	-6.4%	0.47%	+17.8%
BLT	Buy	BLOUNT INTL INC NEW	$3,721,000	+8.9%	668,000	+113.4%	0.46%	+30.4%
LCUT	Buy	LIFETIME BRANDS INC	$3,663,000	-3.9%	262,000	+1.6%	0.46%	+15.2%
DD	New	DU PONT E I DE NEMOURS & CO	$3,615,000	–	75,000	–	0.45%	–
XOM	Buy	EXXON MOBIL CORP	$3,569,000	-4.7%	48,000	+6.7%	0.44%	+14.1%
WNC	Buy	WABASH NATL CORP	$3,442,000	-11.4%	325,000	+4.8%	0.43%	+6.2%
AXP	New	AMERICAN EXPRESS CO	$3,336,000	–	45,000	–	0.42%	–
FNFG	Sell	FIRST NIAGARA FINL GP INC	$3,318,000	-69.7%	325,000	-72.0%	0.41%	-63.7%
SEE	Sell	SEALED AIR CORP NEW	$3,061,000	-70.5%	65,300	-67.7%	0.38%	-64.7%
LE	Sell	LANDS END INC NEW	$2,917,000	-3.7%	108,000	-11.5%	0.36%	+15.2%
JBLU	Sell	JETBLUE AIRWAYS CORP	$2,912,000	-30.6%	113,000	-44.1%	0.36%	-16.7%
EFX	Sell	EQUIFAX INC	$2,915,000	-38.7%	30,000	-38.8%	0.36%	-26.5%
ENTG	Sell	ENTEGRIS INC	$2,585,000	-61.9%	196,000	-57.9%	0.32%	-54.3%
UHS	Sell	UNIVERSAL HLTH SVCS INCcl b	$2,571,000	-55.9%	20,600	-49.8%	0.32%	-47.1%
MLR	Buy	MILLER INDS INC TENN	$2,540,000	+10.7%	130,000	+13.0%	0.32%	+32.8%
TOWN	Sell	TOWNEBANK PORTSMOUTH VA	$2,403,000	+3.2%	127,500	-10.8%	0.30%	+23.6%
HLIT	Buy	HARMONIC INC	$2,204,000	+0.8%	380,000	+18.8%	0.27%	+20.7%
ZTS	Exit	ZOETIS INCcl a	$0	–	-20,000	–	-0.10%	–
EXPR	Exit	EXPRESS INC	$0	–	-150,000	–	-0.28%	–
IART	Exit	INTEGRA LIFESCIENCES HLDGS	$0	–	-58,000	–	-0.41%	–
TW	Exit	TOWERS WATSON & COcl a	$0	–	-31,836	–	-0.42%	–
ALK	Exit	ALASKA AIR GROUP INC	$0	–	-68,000	–	-0.46%	–
HCA	Exit	HCA HOLDINGS INC	$0	–	-49,000	–	-0.46%	–
CB	Exit	CHUBB CORP	$0	–	-51,000	–	-0.50%	–
UNF	Exit	UNIFIRST CORP MASS	$0	–	-48,000	–	-0.56%	–
MAS	Exit	MASCO CORP	$0	–	-217,000	–	-0.60%	–
9207PS	Exit	ROCK-TENN COcl a	$0	–	-99,000	–	-0.62%	–
ADT	Exit	THE ADT CORPORATION	$0	–	-182,000	–	-0.64%	–
NVDA	Exit	NVIDIA CORP	$0	–	-315,000	–	-0.66%	–
QCOM	Exit	QUALCOMM INC	$0	–	-102,000	–	-0.66%	–
DORM	Exit	DORMAN PRODUCTS INC	$0	–	-157,000	–	-0.78%	–
SWHC	Exit	SMITH & WESSON HLDG CORP	$0	–	-658,145	–	-1.13%	–
M	Exit	MACYS INC	$0	–	-181,000	–	-1.27%	–

Q2 2015

			Value		Shares		↓ Weighting
SAVE	New	SPIRIT AIRLS INC	$18,506,000	–	298,000	–	1.92%	–
HAR	New	HARMAN INTL INDS INC	$17,246,000	–	145,000	–	1.79%	–
LM	New	LEGG MASON INC	$16,902,000	–	328,000	–	1.76%	–
GBX	New	GREENBRIER COS INC	$16,585,000	–	354,000	–	1.72%	–
WCC	New	WESCO INTL INC	$15,924,000	–	232,000	–	1.65%	–
DDS	New	DILLARDS INCcl a	$15,253,000	–	145,000	–	1.58%	–
JNS	New	JANUS CAP GROUP INC	$14,997,000	–	876,000	–	1.56%	–
TDC	New	TERADATA CORP DEL	$14,689,000	–	397,000	–	1.53%	–
OSK	New	OSHKOSH CORP	$14,621,000	–	345,000	–	1.52%	–
ABM	New	ABM INDUSTRIES INC	$14,525,000	–	441,900	–	1.51%	–
RBC	New	REGAL-BELOIT CORP	$13,574,000	–	187,000	–	1.41%	–
VSI	New	VITAMIN SHOPPE INC	$13,566,000	–	364,000	–	1.41%	–
WEN	New	WENDYS CO	$12,622,000	–	1,119,000	–	1.31%	–
ITRI	New	ITRON INC	$12,571,000	–	365,000	–	1.31%	–
BIG	New	BIG LOTS INC	$12,552,000	–	279,000	–	1.30%	–
KEYS	New	KEYSIGHT TECHNOLOGIES INC	$12,382,000	–	397,000	–	1.29%	–
M	New	MACYS INC	$12,212,000	–	181,000	–	1.27%	–
OI	New	OWENS ILL INC	$12,204,000	–	532,000	–	1.27%	–
VSH	New	VISHAY INTERTECHNOLOGY INC	$12,077,000	–	1,034,000	–	1.26%	–
IVZ	New	INVESCO LTD	$11,847,000	–	316,000	–	1.23%	–
BEN	New	FRANKLIN RES INC	$11,718,000	–	239,000	–	1.22%	–
DSW	New	DSW INCcl a	$11,479,000	–	344,000	–	1.19%	–
INTC	New	INTEL CORP	$11,345,000	–	373,000	–	1.18%	–
SXT	New	SENSIENT TECHNOLOGIES CORP	$11,208,000	–	164,000	–	1.16%	–
ORCL	New	ORACLE CORP	$11,082,000	–	275,000	–	1.15%	–
ESL	New	ESTERLINE TECHNOLOGIES CORP	$11,059,000	–	116,000	–	1.15%	–
FNFG	New	FIRST NIAGARA FINL GP INC	$10,960,000	–	1,161,000	–	1.14%	–
SWHC	New	SMITH & WESSON HLDG CORP	$10,919,000	–	658,145	–	1.13%	–
GE	New	GENERAL ELECTRIC CO	$10,894,000	–	410,000	–	1.13%	–
DAL	New	DELTA AIR LINES INC DEL	$10,763,000	–	262,000	–	1.12%	–
SEE	New	SEALED AIR CORP NEW	$10,379,000	–	202,000	–	1.08%	–
AON	New	AON PLC	$10,267,000	–	103,000	–	1.07%	–
PDCO	New	PATTERSON COMPANIES INC	$10,022,000	–	206,000	–	1.04%	–
USB	New	US BANCORP DEL	$9,939,000	–	229,000	–	1.03%	–
MDT	New	MEDTRONIC PLC	$9,929,000	–	134,000	–	1.03%	–
FOX	New	TWENTY FIRST CENTY FOX INCcl b	$9,924,000	–	308,000	–	1.03%	–
BK	New	BANK NEW YORK MELLON CORP	$9,905,000	–	236,000	–	1.03%	–
AAPL	New	APPLE INC	$9,783,000	–	78,000	–	1.02%	–
CSCO	New	CISCO SYS INC	$9,693,000	–	353,000	–	1.01%	–
FITB	New	FIFTH THIRD BANCORP	$9,660,000	–	464,000	–	1.00%	–
CMCSA	New	COMCAST CORP NEWcl a	$9,622,000	–	160,000	–	1.00%	–
FOSL	New	FOSSIL GROUP INC	$9,572,000	–	138,000	–	1.00%	–
DISCK	New	DISCOVERY COMMUNICATIONS NEW	$9,479,000	–	305,000	–	0.98%	–
BRC	New	BRADY CORPcl a	$9,438,000	–	381,500	–	0.98%	–
GM	New	GENERAL MTRS CO	$9,132,000	–	274,000	–	0.95%	–
T	New	AT&T INC	$8,916,000	–	251,000	–	0.93%	–
KSS	New	KOHLS CORP	$8,828,000	–	141,000	–	0.92%	–
BBT	New	BB&T CORP	$8,707,000	–	216,000	–	0.90%	–
EBAY	New	EBAY INC	$8,675,000	–	144,000	–	0.90%	–
ZBH	New	ZIMMER HLDGS INC	$8,083,000	–	74,000	–	0.84%	–
GLW	New	CORNING INC	$8,089,000	–	410,000	–	0.84%	–
VZ	New	VERIZON COMMUNICATIONS INC	$8,064,000	–	173,000	–	0.84%	–
UNH	New	UNITEDHEALTH GROUP INC	$8,052,000	–	66,000	–	0.84%	–
JOY	New	JOY GLOBAL INC	$8,036,000	–	222,000	–	0.84%	–
BBBY	New	BED BATH & BEYOND INC	$7,933,000	–	115,000	–	0.82%	–
ABT	New	ABBOTT LABORATORIES	$7,804,000	–	159,000	–	0.81%	–
MMC	New	MARSH & MCLENNAN COS INC	$7,711,000	–	136,000	–	0.80%	–
UTX	New	UNITED TECHNOLOGIES CORP	$7,654,000	–	69,000	–	0.80%	–
DORM	New	DORMAN PRODUCTS INC	$7,483,000	–	157,000	–	0.78%	–
PNR	New	PENTAIR PLC	$7,288,000	–	106,000	–	0.76%	–
SYK	New	STRYKER CORP	$7,263,000	–	76,000	–	0.76%	–
DOV	New	DOVER CORP	$6,948,000	–	99,000	–	0.72%	–
BDX	New	BECTON DICKINSON & CO	$6,941,000	–	49,000	–	0.72%	–
JNJ	New	JOHNSON & JOHNSON	$6,920,000	–	71,000	–	0.72%	–
MSFT	New	MICROSOFT CORP	$6,799,000	–	154,000	–	0.71%	–
ENTG	New	ENTEGRIS INC	$6,790,000	–	466,000	–	0.70%	–
CFG	New	CITIZENS FINL GROUP INC	$6,746,000	–	247,000	–	0.70%	–
PH	New	PARKER HANNIFIN CORP	$6,398,000	–	55,000	–	0.66%	–
QCOM	New	QUALCOMM INC	$6,388,000	–	102,000	–	0.66%	–
IR	New	INGERSOLL-RAND PLC	$6,337,000	–	94,000	–	0.66%	–
NVDA	New	NVIDIA CORP	$6,335,000	–	315,000	–	0.66%	–
MA	New	MASTERCARD INCcl a	$6,263,000	–	67,000	–	0.65%	–
LOW	New	LOWES COS INC	$6,228,000	–	93,000	–	0.65%	–
RL	New	RALPH LAUREN CORPcl a	$6,221,000	–	47,000	–	0.65%	–
TRV	New	TRAVELERS COMPANIES INC	$6,186,000	–	64,000	–	0.64%	–
PKG	New	PACKAGING CORP AMER	$6,187,000	–	99,000	–	0.64%	–
V	New	VISA INC	$6,178,000	–	92,000	–	0.64%	–
VIAB	New	VIACOM INC NEWcl b	$6,141,000	–	95,000	–	0.64%	–
ADT	New	THE ADT CORPORATION	$6,110,000	–	182,000	–	0.64%	–
CVS	New	CVS CAREMARK CORPORATION	$5,978,000	–	57,000	–	0.62%	–
DAKT	New	DAKTRONICS INC	$5,954,000	–	502,000	–	0.62%	–
3106PS	New	DELPHI AUTOMOTIVE PLC	$5,956,000	–	70,000	–	0.62%	–
9207PS	New	ROCK-TENN COcl a	$5,960,000	–	99,000	–	0.62%	–
UHS	New	UNIVERSAL HLTH SVCS INCcl b	$5,826,000	–	41,000	–	0.60%	–
ISRG	New	INTUITIVE SURGICAL INC	$5,814,000	–	12,000	–	0.60%	–
MAS	New	MASCO CORP	$5,787,000	–	217,000	–	0.60%	–
PEP	New	PEPSICO INC	$5,787,000	–	62,000	–	0.60%	–
NOV	New	NATIONAL OILWELL VARCO INC	$5,456,000	–	113,000	–	0.57%	–
UNF	New	UNIFIRST CORP MASS	$5,369,000	–	48,000	–	0.56%	–
XYL	New	XYLEM INC	$5,316,000	–	143,400	–	0.55%	–
TEL	New	TE CONNECTIVITY LTD	$5,273,000	–	82,000	–	0.55%	–
GSIG	New	GSI GROUP INC CDA NEW	$5,200,000	–	346,000	–	0.54%	–
CECE	New	CECO ENVIRONMENTAL CORP	$5,008,000	–	442,000	–	0.52%	–
CB	New	CHUBB CORP	$4,852,000	–	51,000	–	0.50%	–
EFX	New	EQUIFAX INC	$4,757,000	–	49,000	–	0.49%	–
SMP	New	STANDARD MTR PRODS INC	$4,601,000	–	131,000	–	0.48%	–
HCA	New	HCA HOLDINGS INC	$4,445,000	–	49,000	–	0.46%	–
ALK	New	ALASKA AIR GROUP INC	$4,381,000	–	68,000	–	0.46%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$4,361,000	–	45,000	–	0.45%	–
PBPB	New	POTBELLY CORP	$4,288,000	–	350,000	–	0.45%	–
JBLU	New	JETBLUE AIRWAYS CORP	$4,194,000	–	202,000	–	0.44%	–
MSM	New	MSC INDL DIRECT INCcl a	$4,186,000	–	60,000	–	0.44%	–
TW	New	TOWERS WATSON & COcl a	$4,005,000	–	31,836	–	0.42%	–
JCI	New	JOHNSON CTLS INC	$3,962,000	–	80,000	–	0.41%	–
IART	New	INTEGRA LIFESCIENCES HLDGS	$3,907,000	–	58,000	–	0.41%	–
CYNO	New	CYNOSURE INCcl a	$3,897,000	–	101,000	–	0.40%	–
WNC	New	WABASH NATL CORP	$3,887,000	–	310,000	–	0.40%	–
FOXF	New	FOX FACTORY HLDG CORP	$3,843,000	–	239,000	–	0.40%	–
LCUT	New	LIFETIME BRANDS INC	$3,811,000	–	258,000	–	0.40%	–
XOM	New	EXXON MOBIL CORP	$3,744,000	–	45,000	–	0.39%	–
FSS	New	FEDERAL SIGNAL CORP	$3,444,000	–	231,000	–	0.36%	–
BLT	New	BLOUNT INTL INC NEW	$3,418,000	–	313,000	–	0.36%	–
LE	New	LANDS END INC NEW	$3,029,000	–	122,000	–	0.32%	–
EXPR	New	EXPRESS INC	$2,717,000	–	150,000	–	0.28%	–
VDSI	New	VASCO DATA SEC INTL INC	$2,672,000	–	88,500	–	0.28%	–
TOWN	New	TOWNEBANK PORTSMOUTH VA	$2,329,000	–	143,000	–	0.24%	–
MLR	New	MILLER INDS INC TENN	$2,294,000	–	115,000	–	0.24%	–
HLIT	New	HARMONIC INC	$2,186,000	–	320,000	–	0.23%	–
KAI	New	KADANT INC	$1,888,000	–	40,000	–	0.20%	–
ZTS	New	ZOETIS INCcl a	$964,000	–	20,000	–	0.10%	–

Q4 2014

			Value		Shares		↓ Weighting
AVX	Exit	AVX CORP	$0	–	-44,000	–	-0.08%	–
FOXF	Exit	FOX FACTORY HLDG CORP	$0	–	-38,000	–	-0.08%	–
RCKY	Exit	ROCKY BRANDS INC	$0	–	-71,000	–	-0.13%	–
MLR	Exit	MILLER INDS INC TENN	$0	–	-61,000	–	-0.13%	–
KAI	Exit	KADANT INC	$0	–	-33,000	–	-0.17%	–
LCUT	Exit	LIFETIME BRANDS INC	$0	–	-102,000	–	-0.20%	–
NUTR	Exit	NUTRACEUTICAL INTL CORP	$0	–	-77,000	–	-0.21%	–
SCS	Exit	STEELCASE INCcl a	$0	–	-100,000	–	-0.21%	–
MMM	Exit	3M CO	$0	–	-12,000	–	-0.22%	–
ACAT	Exit	ARCTIC CAT INC	$0	–	-51,000	–	-0.23%	–
DIS	Exit	DISNEY WALT CO	$0	–	-20,000	–	-0.23%	–
AEGN	Exit	AEGION CORP	$0	–	-89,000	–	-0.26%	–
GSIG	Exit	GSI GROUP INC CDA NEW	$0	–	-178,000	–	-0.27%	–
CECE	Exit	CECO ENVIRONMENTAL CORP	$0	–	-153,000	–	-0.27%	–
HLIT	Exit	HARMONIC INC	$0	–	-330,000	–	-0.27%	–
CULP	Exit	CULP INC	$0	–	-135,000	–	-0.32%	–
PBPB	Exit	POTBELLY CORP	$0	–	-211,000	–	-0.32%	–
IART	Exit	INTEGRA LIFESCIENCES HLDGS	$0	–	-55,000	–	-0.36%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-31,000	–	-0.38%	–
NOV	Exit	NATIONAL OILWELL VARCO INC	$0	–	-40,000	–	-0.40%	–
SMP	Exit	STANDARD MTR PRODS INC	$0	–	-89,000	–	-0.40%	–
MCD	Exit	MCDONALDS CORP	$0	–	-33,000	–	-0.41%	–
XRAY	Exit	DENTSPLY INTL INC NEW	$0	–	-70,000	–	-0.42%	–
VFC	Exit	V F CORP	$0	–	-52,000	–	-0.45%	–
DE	Exit	DEERE & CO	$0	–	-42,000	–	-0.45%	–
CTAS	Exit	CINTAS CORP	$0	–	-49,000	–	-0.45%	–
JNS	Exit	JANUS CAP GROUP INC	$0	–	-244,000	–	-0.46%	–
TRV	Exit	TRAVELERS COMPANIES INC	$0	–	-38,000	–	-0.46%	–
INTC	Exit	INTEL CORP	$0	–	-103,000	–	-0.47%	–
NWL	Exit	NEWELL RUBBERMAID INC	$0	–	-110,000	–	-0.49%	–
HRL	Exit	HORMEL FOODS CORP	$0	–	-74,000	–	-0.50%	–
WFM	Exit	WHOLE FOODS MKT INC	$0	–	-104,000	–	-0.52%	–
XYL	Exit	XYLEM INC	$0	–	-115,000	–	-0.53%	–
PH	Exit	PARKER HANNIFIN CORP	$0	–	-36,000	–	-0.54%	–
PKG	Exit	PACKAGING CORP AMER	$0	–	-65,000	–	-0.54%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-90,000	–	-0.54%	–
KO	Exit	COCA COLA CO	$0	–	-99,000	–	-0.55%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-51,000	–	-0.57%	–
SYY	Exit	SYSCO CORP	$0	–	-116,000	–	-0.57%	–
BCR	Exit	BARD C R INC	$0	–	-34,000	–	-0.63%	–
PDCO	Exit	PATTERSON COMPANIES INC	$0	–	-119,000	–	-0.64%	–
VSH	Exit	VISHAY INTERTECHNOLOGY INC	$0	–	-347,000	–	-0.65%	–
DGX	Exit	QUEST DIAGNOSTICS INC	$0	–	-82,000	–	-0.65%	–
DSW	Exit	DSW INCcl a	$0	–	-166,000	–	-0.65%	–
EFX	Exit	EQUIFAX INC	$0	–	-67,000	–	-0.65%	–
IR	Exit	INGERSOLL-RAND PLC	$0	–	-89,000	–	-0.65%	–
FNFG	Exit	FIRST NIAGARA FINL GP INC	$0	–	-610,000	–	-0.66%	–
AVY	Exit	AVERY DENNISON CORP	$0	–	-115,000	–	-0.67%	–
GBX	Exit	GREENBRIER COS INC	$0	–	-70,000	–	-0.67%	–
GLW	Exit	CORNING INC	$0	–	-267,000	–	-0.67%	–
CB	Exit	CHUBB CORP	$0	–	-57,000	–	-0.68%	–
DOV	Exit	DOVER CORP	$0	–	-65,000	–	-0.68%	–
UHS	Exit	UNIVERSAL HLTH SVCS INCcl b	$0	–	-50,000	–	-0.68%	–
MAS	Exit	MASCO CORP	$0	–	-223,000	–	-0.69%	–
QCOM	Exit	QUALCOMM INC	$0	–	-72,000	–	-0.70%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-108,000	–	-0.70%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-98,000	–	-0.70%	–
ENTG	Exit	ENTEGRIS INC	$0	–	-472,000	–	-0.71%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-63,000	–	-0.72%	–
9207PS	Exit	ROCK-TENN COcl a	$0	–	-116,000	–	-0.72%	–
FOSL	Exit	FOSSIL GROUP INC	$0	–	-59,000	–	-0.72%	–
MMC	Exit	MARSH & MCLENNAN COS INC	$0	–	-108,000	–	-0.74%	–
RL	Exit	RALPH LAUREN CORPcl a	$0	–	-37,000	–	-0.79%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-54,000	–	-0.80%	–
TJX	Exit	TJX COS INC NEW	$0	–	-104,000	–	-0.80%	–
UNF	Exit	UNIFIRST CORP MASS	$0	–	-65,000	–	-0.82%	–
BIG	Exit	BIG LOTS INC	$0	–	-146,800	–	-0.82%	–
ZTS	Exit	ZOETIS INCcl a	$0	–	-178,000	–	-0.86%	–
TFX	Exit	TELEFLEX INC	$0	–	-63,000	–	-0.86%	–
DNOW	Exit	NOW INC	$0	–	-220,000	–	-0.87%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-15,000	–	-0.90%	–
SEE	Exit	SEALED AIR CORP NEW	$0	–	-200,000	–	-0.91%	–
RBC	Exit	REGAL-BELOIT CORP	$0	–	-109,000	–	-0.91%	–
ITRI	Exit	ITRON INC	$0	–	-178,900	–	-0.92%	–
JLL	Exit	JONES LANG LASALLE INC	$0	–	-56,000	–	-0.92%	–
CRL	Exit	CHARLES RIV LABS INTL INC	$0	–	-121,000	–	-0.94%	–
AAPL	Exit	APPLE INC	$0	–	-72,000	–	-0.94%	–
FITB	Exit	FIFTH THIRD BANCORP	$0	–	-364,000	–	-0.95%	–
GM	Exit	GENERAL MTRS CO	$0	–	-229,000	–	-0.95%	–
CVS	Exit	CVS CAREMARK CORPORATION	$0	–	-92,000	–	-0.95%	–
ESL	Exit	ESTERLINE TECHNOLOGIES CORP	$0	–	-67,000	–	-0.97%	–
SAVE	Exit	SPIRIT AIRLS INC	$0	–	-108,000	–	-0.97%	–
AON	Exit	AON PLC	$0	–	-86,000	–	-0.98%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-182,000	–	-0.98%	–
T	Exit	AT&T INC	$0	–	-217,000	–	-1.00%	–
3106PS	Exit	DELPHI AUTOMOTIVE PLC	$0	–	-125,000	–	-1.00%	–
BBT	Exit	BB&T CORP	$0	–	-211,000	–	-1.02%	–
WCC	Exit	WESCO INTL INC	$0	–	-101,000	–	-1.03%	–
SYK	Exit	STRYKER CORP	$0	–	-98,000	–	-1.03%	–
ADT	Exit	THE ADT CORPORATION	$0	–	-223,200	–	-1.03%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-75,000	–	-1.03%	–
TW	Exit	TOWERS WATSON & COcl a	$0	–	-80,000	–	-1.04%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-213,000	–	-1.07%	–
SXT	Exit	SENSIENT TECHNOLOGIES CORP	$0	–	-159,000	–	-1.08%	–
ORCL	Exit	ORACLE CORP	$0	–	-218,000	–	-1.09%	–
CSCO	Exit	CISCO SYS INC	$0	–	-332,000	–	-1.09%	–
ETH	Exit	ETHAN ALLEN INTERIORS INC	$0	–	-369,000	–	-1.10%	–
ROST	Exit	ROSS STORES INC	$0	–	-113,000	–	-1.11%	–
KSS	Exit	KOHLS CORP	$0	–	-140,000	–	-1.11%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-120,000	–	-1.12%	–
PEP	Exit	PEPSICO INC	$0	–	-93,000	–	-1.13%	–
DAL	Exit	DELTA AIR LINES INC DEL	$0	–	-243,000	–	-1.14%	–
MDT	Exit	MEDTRONIC INC	$0	–	-142,000	–	-1.14%	–
CFN	Exit	CAREFUSION CORP	$0	–	-195,000	–	-1.15%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-83,000	–	-1.15%	–
LOW	Exit	LOWES COS INC	$0	–	-172,000	–	-1.18%	–
EBAY	Exit	EBAY INC	$0	–	-164,000	–	-1.21%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-363,000	–	-1.21%	–
DORM	Exit	DORMAN PRODUCTS INC	$0	–	-241,000	–	-1.26%	–
USB	Exit	US BANCORP DEL	$0	–	-232,000	–	-1.26%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-184,000	–	-1.29%	–
HAR	Exit	HARMAN INTL INDS INC	$0	–	-102,000	–	-1.30%	–
DDS	Exit	DILLARDS INCcl a	$0	–	-92,000	–	-1.30%	–
BBBY	Exit	BED BATH & BEYOND INC	$0	–	-154,000	–	-1.32%	–
BEN	Exit	FRANKLIN RES INC	$0	–	-192,000	–	-1.36%	–
M	Exit	MACYS INC	$0	–	-186,000	–	-1.41%	–
ZBH	Exit	ZIMMER HLDGS INC	$0	–	-108,000	–	-1.41%	–
EXPR	Exit	EXPRESS INC	$0	–	-704,000	–	-1.43%	–
IVZ	Exit	INVESCO LTD	$0	–	-279,000	–	-1.43%	–
SWHC	Exit	SMITH & WESSON HLDG CORP	$0	–	-1,172,000	–	-1.44%	–
ABM	Exit	ABM INDUSTRIES INC	$0	–	-463,000	–	-1.55%	–
VSI	Exit	VITAMIN SHOPPE INC	$0	–	-270,000	–	-1.56%	–
LM	Exit	LEGG MASON INC	$0	–	-235,000	–	-1.56%	–
PETM	Exit	PETSMART INC	$0	–	-182,000	–	-1.66%	–
TDC	Exit	TERADATA CORP DEL	$0	–	-306,000	–	-1.67%	–

Q3 2014

			Value		Shares		↓ Weighting
TDC	Buy	TERADATA CORP DEL	$12,828,000	+40.0%	306,000	+34.2%	1.67%	+35.0%
PETM	Sell	PETSMART INC	$12,756,000	-18.3%	182,000	-30.3%	1.66%	-21.2%
LM	Sell	LEGG MASON INC	$12,023,000	-3.2%	235,000	-2.9%	1.56%	-6.6%
VSI	Buy	VITAMIN SHOPPE INC	$11,985,000	+13.7%	270,000	+10.2%	1.56%	+9.6%
ABM	Buy	ABM INDUSTRIES INC	$11,894,000	+24.9%	463,000	+31.2%	1.55%	+20.4%
SWHC	Buy	SMITH & WESSON HLDG CORP	$11,064,000	+106.0%	1,172,000	+217.3%	1.44%	+98.6%
EXPR	Sell	EXPRESS INC	$10,989,000	-8.7%	704,000	-0.4%	1.43%	-11.9%
ZBH	Buy	ZIMMER HLDGS INC	$10,859,000	+20.2%	108,000	+24.1%	1.41%	+15.9%
M	Sell	MACYS INC	$10,821,000	-8.0%	186,000	-8.2%	1.41%	-11.3%
BBBY	Sell	BED BATH & BEYOND INC	$10,138,000	-8.9%	154,000	-20.6%	1.32%	-12.2%
DDS	Buy	DILLARDS INCcl a	$10,026,000	-4.5%	92,000	+2.2%	1.30%	-7.9%
HAR	Buy	HARMAN INTL INDS INC	$10,000,000	+4.6%	102,000	+14.6%	1.30%	+0.9%
CMCSA	Sell	COMCAST CORP NEWcl a	$9,896,000	-10.1%	184,000	-10.2%	1.29%	-13.3%
DORM	Buy	DORMAN PRODUCTS INC	$9,654,000	+243.4%	241,000	+322.8%	1.26%	+231.7%
LOW	Sell	LOWES COS INC	$9,102,000	-0.2%	172,000	-9.5%	1.18%	-3.7%
JNJ	Sell	JOHNSON & JOHNSON	$8,847,000	-2.8%	83,000	-4.6%	1.15%	-6.3%
CFN	Sell	CAREFUSION CORP	$8,824,000	-4.3%	195,000	-6.2%	1.15%	-7.7%
MDT	Buy	MEDTRONIC INC	$8,797,000	+20.0%	142,000	+23.5%	1.14%	+15.7%
DAL	Buy	DELTA AIR LINES INC DEL	$8,784,000	+22.0%	243,000	+30.6%	1.14%	+17.7%
PEP	Sell	PEPSICO INC	$8,657,000	-8.6%	93,000	-12.3%	1.13%	-11.8%
DD	Sell	DU PONT E I DE NEMOURS & CO	$8,611,000	-12.3%	120,000	-20.0%	1.12%	-15.4%
ROST	Buy	ROSS STORES INC	$8,541,000	+18.5%	113,000	+3.7%	1.11%	+14.3%
KSS	Sell	KOHLS CORP	$8,544,000	-1.1%	140,000	-14.6%	1.11%	-4.6%
ETH	Buy	ETHAN ALLEN INTERIORS INC	$8,413,000	-3.6%	369,000	+4.6%	1.10%	-7.0%
CSCO	Sell	CISCO SYS INC	$8,356,000	-1.7%	332,000	-2.9%	1.09%	-5.1%
ORCL	Buy	ORACLE CORP	$8,345,000	+58.4%	218,000	+67.7%	1.09%	+52.7%
SXT	Buy	SENSIENT TECHNOLOGIES CORP	$8,324,000	+5.9%	159,000	+12.8%	1.08%	+2.2%
TW	Buy	TOWERS WATSON & COcl a	$7,960,000	+49.7%	80,000	+56.9%	1.04%	+44.3%
UTX	Buy	UNITED TECHNOLOGIES CORP	$7,920,000	+59.5%	75,000	+74.4%	1.03%	+53.9%
ADT	Sell	THE ADT CORPORATION	$7,915,000	-3.2%	223,200	-4.6%	1.03%	-6.7%
WCC	Buy	WESCO INTL INC	$7,904,000	+134.6%	101,000	+159.0%	1.03%	+126.2%
3106PS	Buy	DELPHI AUTOMOTIVE PLC	$7,668,000	+7.3%	125,000	+20.2%	1.00%	+3.4%
SAVE	Sell	SPIRIT AIRLS INC	$7,467,000	-35.3%	108,000	-40.9%	0.97%	-37.7%
ESL	Buy	ESTERLINE TECHNOLOGIES CORP	$7,455,000	+22.2%	67,000	+26.4%	0.97%	+17.8%
GM	Buy	GENERAL MTRS CO	$7,314,000	-0.7%	229,000	+12.8%	0.95%	-4.3%
FITB	Buy	FIFTH THIRD BANCORP	$7,287,000	+37.1%	364,000	+46.2%	0.95%	+32.2%
AAPL	Buy	APPLE INC	$7,254,000	+22.0%	72,000	+12.5%	0.94%	+17.6%
CRL	Sell	CHARLES RIV LABS INTL INC	$7,229,000	+1.6%	121,000	-9.0%	0.94%	-2.1%
JLL	Sell	JONES LANG LASALLE INC	$7,075,000	-8.2%	56,000	-8.2%	0.92%	-11.5%
ITRI	Sell	ITRON INC	$7,033,000	-11.2%	178,900	-8.4%	0.92%	-14.3%
RBC	Buy	REGAL-BELOIT CORP	$7,003,000	+17.3%	109,000	+43.4%	0.91%	+13.2%
SEE	Buy	SEALED AIR CORP NEW	$6,976,000	+16.7%	200,000	+14.3%	0.91%	+12.5%
ISRG	Sell	INTUITIVE SURGICAL INC	$6,927,000	-1.1%	15,000	-11.8%	0.90%	-4.6%
DNOW	Buy	NOW INC	$6,690,000	+32.9%	220,000	+58.3%	0.87%	+28.3%
BIG	Sell	BIG LOTS INC	$6,320,000	-20.5%	146,800	-15.6%	0.82%	-23.4%
UNF	Buy	UNIFIRST CORP MASS	$6,278,000	+13.9%	65,000	+25.0%	0.82%	+9.8%
TJX	Buy	TJX COS INC NEW	$6,154,000	+18.1%	104,000	+6.1%	0.80%	+13.9%
FOSL	Buy	FOSSIL GROUP INC	$5,540,000	+47.2%	59,000	+63.9%	0.72%	+41.9%
AXP	Buy	AMERICAN EXPRESS CO	$5,515,000	+5.7%	63,000	+14.5%	0.72%	+2.0%
9207PS	Buy	ROCK-TENN COcl a	$5,519,000	+24.4%	116,000	+176.2%	0.72%	+19.9%
ENTG	Sell	ENTEGRIS INC	$5,428,000	-26.7%	472,000	-12.4%	0.71%	-29.3%
TEL	Buy	TE CONNECTIVITY LTD	$5,418,000	+20.0%	98,000	+34.2%	0.70%	+15.8%
QCOM	Buy	QUALCOMM INC	$5,383,000	+19.3%	72,000	+26.3%	0.70%	+15.1%
MAS	Buy	MASCO CORP	$5,334,000	+33.5%	223,000	+23.9%	0.69%	+28.8%
UHS	New	UNIVERSAL HLTH SVCS INCcl b	$5,225,000	–	50,000	–	0.68%	–
DOV	New	DOVER CORP	$5,221,000	–	65,000	–	0.68%	–
GLW	Buy	CORNING INC	$5,164,000	+13.6%	267,000	+29.0%	0.67%	+9.6%
AVY	Buy	AVERY DENNISON CORP	$5,135,000	-9.1%	115,000	+4.4%	0.67%	-12.2%
GBX	Sell	GREENBRIER COS INC	$5,137,000	+2.5%	70,000	-19.5%	0.67%	-1.0%
FNFG	New	FIRST NIAGARA FINL GP INC	$5,081,000	–	610,000	–	0.66%	–
IR	Buy	INGERSOLL-RAND PLC	$5,016,000	+14.6%	89,000	+27.1%	0.65%	+10.5%
EFX	Sell	EQUIFAX INC	$5,008,000	-27.3%	67,000	-29.5%	0.65%	-29.9%
DSW	New	DSW INCcl a	$4,998,000	–	166,000	–	0.65%	–
VSH	Sell	VISHAY INTERTECHNOLOGY INC	$4,959,000	-10.3%	347,000	-2.8%	0.65%	-13.5%
PDCO	New	PATTERSON COMPANIES INC	$4,930,000	–	119,000	–	0.64%	–
BCR	Sell	BARD C R INC	$4,852,000	-10.7%	34,000	-10.5%	0.63%	-13.9%
PKG	New	PACKAGING CORP AMER	$4,148,000	–	65,000	–	0.54%	–
PH	Buy	PARKER HANNIFIN CORP	$4,109,000	+21.0%	36,000	+33.3%	0.54%	+16.8%
WFM	Buy	WHOLE FOODS MKT INC	$3,963,000	+15.3%	104,000	+16.9%	0.52%	+11.2%
INTC	Sell	INTEL CORP	$3,586,000	-30.1%	103,000	-38.0%	0.47%	-32.5%
TRV	New	TRAVELERS COMPANIES INC	$3,570,000	–	38,000	–	0.46%	–
JNS	Buy	JANUS CAP GROUP INC	$3,548,000	+57.1%	244,000	+34.8%	0.46%	+51.5%
CTAS	Sell	CINTAS CORP	$3,459,000	-2.8%	49,000	-12.5%	0.45%	-6.2%
DE	Buy	DEERE & CO	$3,444,000	+2.8%	42,000	+13.5%	0.45%	-0.9%
SMP	Buy	STANDARD MTR PRODS INC	$3,064,000	+0.9%	89,000	+30.9%	0.40%	-2.7%
NOV	Sell	NATIONAL OILWELL VARCO INC	$3,044,000	-44.0%	40,000	-39.4%	0.40%	-46.0%
PBPB	Buy	POTBELLY CORP	$2,460,000	-14.8%	211,000	+16.6%	0.32%	-17.9%
CULP	Buy	CULP INC	$2,450,000	+34.0%	135,000	+28.6%	0.32%	+29.1%
HLIT	Buy	HARMONIC INC	$2,092,000	+45.3%	330,000	+71.0%	0.27%	+40.2%
CECE	Buy	CECO ENVIRONMENTAL CORP	$2,050,000	+3.5%	153,000	+20.5%	0.27%	0.0%
GSIG	Buy	GSI GROUP INC CDA NEW	$2,045,000	+13.9%	178,000	+26.2%	0.27%	+9.9%
AEGN	Buy	AEGION CORP	$1,980,000	+1.3%	89,000	+6.0%	0.26%	-2.3%
DIS	Sell	DISNEY WALT CO	$1,781,000	-13.5%	20,000	-16.7%	0.23%	-16.5%
ACAT	Sell	ARCTIC CAT INC	$1,776,000	-28.5%	51,000	-19.0%	0.23%	-31.0%
NUTR	Buy	NUTRACEUTICAL INTL CORP	$1,610,000	-5.0%	77,000	+8.5%	0.21%	-8.3%
LCUT	New	LIFETIME BRANDS INC	$1,562,000	–	102,000	–	0.20%	–
FOXF	New	FOX FACTORY HLDG CORP	$589,000	–	38,000	–	0.08%	–
UFPT	Exit	UFP TECHNOLOGIES INC	$0	–	-49,000	–	-0.16%	–
TRW	Exit	TRW AUTOMOTIVE HLDGS CORP	$0	–	-23,800	–	-0.29%	–
ABB	Exit	ABB LTDsponsored adr	$0	–	-115,000	–	-0.36%	–
BAX	Exit	BAXTER INTL INC	$0	–	-60,000	–	-0.59%	–
ANN	Exit	ANN INC	$0	–	-168,100	–	-0.93%	–
6107SC	Exit	URS CORP NEW	$0	–	-231,000	–	-1.43%	–
IGT	Exit	INTERNATIONAL GAME TECHNOLOGY	$0	–	-934,700	–	-2.01%	–

Q2 2014

			Value		Shares		↓ Weighting
PETM	New	PETSMART INC	$15,608,000	–	261,000	–	2.11%	–
IGT	New	INTERNATIONAL GAME TECHNOLOGY	$14,871,000	–	934,700	–	2.01%	–
LM	New	LEGG MASON INC	$12,417,000	–	242,000	–	1.68%	–
EXPR	New	EXPRESS INC	$12,040,000	–	707,000	–	1.62%	–
M	New	MACYS INC	$11,761,000	–	202,700	–	1.59%	–
SAVE	New	SPIRIT AIRLS INC	$11,548,000	–	182,600	–	1.56%	–
BBBY	New	BED BATH & BEYOND INC	$11,132,000	–	194,000	–	1.50%	–
BEN	New	FRANKLIN RES INC	$11,105,000	–	192,000	–	1.50%	–
CMCSA	New	COMCAST CORP NEWcl a	$11,004,000	–	205,000	–	1.49%	–
6107SC	New	URS CORP NEW	$10,591,000	–	231,000	–	1.43%	–
VSI	New	VITAMIN SHOPPE INC	$10,540,000	–	245,000	–	1.42%	–
IVZ	New	INVESCO LTD	$10,532,000	–	279,000	–	1.42%	–
DDS	New	DILLARDS INCcl a	$10,495,000	–	90,000	–	1.42%	–
USB	New	US BANCORP DEL	$10,050,000	–	232,000	–	1.36%	–
DD	New	DU PONT E I DE NEMOURS & CO	$9,816,000	–	150,000	–	1.32%	–
HAR	New	HARMAN INTL INDS INC	$9,561,000	–	89,000	–	1.29%	–
GE	New	GENERAL ELECTRIC CO	$9,540,000	–	363,000	–	1.29%	–
ABM	New	ABM INDUSTRIES INC	$9,524,000	–	353,000	–	1.29%	–
PEP	New	PEPSICO INC	$9,470,000	–	106,000	–	1.28%	–
CFN	New	CAREFUSION CORP	$9,225,000	–	208,000	–	1.24%	–
TDC	New	TERADATA CORP DEL	$9,166,000	–	228,000	–	1.24%	–
LOW	New	LOWES COS INC	$9,118,000	–	190,000	–	1.23%	–
JNJ	New	JOHNSON & JOHNSON	$9,102,000	–	87,000	–	1.23%	–
ZBH	New	ZIMMER HLDGS INC	$9,036,000	–	87,000	–	1.22%	–
ETH	New	ETHAN ALLEN INTERIORS INC	$8,726,000	–	352,700	–	1.18%	–
KSS	New	KOHLS CORP	$8,640,000	–	164,000	–	1.17%	–
CSCO	New	CISCO SYS INC	$8,499,000	–	342,000	–	1.15%	–
BBT	New	BB&T CORP	$8,320,000	–	211,000	–	1.12%	–
SYK	New	STRYKER CORP	$8,263,000	–	98,000	–	1.12%	–
EBAY	New	EBAY INC	$8,210,000	–	164,000	–	1.11%	–
ADT	New	THE ADT CORPORATION	$8,176,000	–	234,000	–	1.10%	–
BK	New	BANK NEW YORK MELLON CORP	$7,983,000	–	213,000	–	1.08%	–
BIG	New	BIG LOTS INC	$7,952,000	–	174,000	–	1.07%	–
ITRI	New	ITRON INC	$7,922,000	–	195,366	–	1.07%	–
SXT	New	SENSIENT TECHNOLOGIES CORP	$7,857,000	–	141,000	–	1.06%	–
AON	New	AON PLC	$7,748,000	–	86,000	–	1.05%	–
JLL	New	JONES LANG LASALLE INC	$7,710,000	–	61,000	–	1.04%	–
T	New	AT&T INC	$7,673,000	–	217,000	–	1.04%	–
ABT	New	ABBOTT LABORATORIES	$7,444,000	–	182,000	–	1.00%	–
ENTG	New	ENTEGRIS INC	$7,409,000	–	539,000	–	1.00%	–
GM	New	GENERAL MTRS CO	$7,369,000	–	203,000	–	1.00%	–
MDT	New	MEDTRONIC INC	$7,332,000	–	115,000	–	0.99%	–
ROST	New	ROSS STORES INC	$7,208,000	–	109,000	–	0.97%	–
DAL	New	DELTA AIR LINES INC DEL	$7,202,000	–	186,000	–	0.97%	–
3106PS	New	DELPHI AUTOMOTIVE PLC	$7,149,000	–	104,000	–	0.96%	–
CRL	New	CHARLES RIV LABS INTL INC	$7,118,000	–	133,000	–	0.96%	–
ISRG	New	INTUITIVE SURGICAL INC	$7,001,000	–	17,000	–	0.94%	–
CVS	New	CVS CAREMARK CORPORATION	$6,934,000	–	92,000	–	0.94%	–
ANN	New	ANN INC	$6,916,000	–	168,100	–	0.93%	–
EFX	New	EQUIFAX INC	$6,891,000	–	95,000	–	0.93%	–
TFX	New	TELEFLEX INC	$6,653,000	–	63,000	–	0.90%	–
BDX	New	BECTON DICKINSON & CO	$6,388,000	–	54,000	–	0.86%	–
ESL	New	ESTERLINE TECHNOLOGIES CORP	$6,101,000	–	53,000	–	0.82%	–
SEE	New	SEALED AIR CORP NEW	$5,980,000	–	175,000	–	0.81%	–
RBC	New	REGAL-BELOIT CORP	$5,971,000	–	76,000	–	0.81%	–
AAPL	New	APPLE INC	$5,948,000	–	64,000	–	0.80%	–
RL	New	RALPH LAUREN CORPcl a	$5,946,000	–	37,000	–	0.80%	–
ZTS	New	ZOETIS INCcl a	$5,744,000	–	178,000	–	0.78%	–
AVY	New	AVERY DENNISON CORP	$5,646,000	–	110,168	–	0.76%	–
MMC	New	MARSH & MCLENNAN COS INC	$5,597,000	–	108,000	–	0.76%	–
VSH	New	VISHAY INTERTECHNOLOGY INC	$5,530,000	–	357,000	–	0.75%	–
UNF	New	UNIFIRST CORP MASS	$5,512,000	–	52,000	–	0.74%	–
NOV	New	NATIONAL OILWELL VARCO INC	$5,435,000	–	66,000	–	0.73%	–
BCR	New	BARD C R INC	$5,434,000	–	38,000	–	0.73%	–
SWHC	New	SMITH & WESSON HLDG CORP	$5,370,000	–	369,328	–	0.72%	–
FITB	New	FIFTH THIRD BANCORP	$5,316,000	–	249,000	–	0.72%	–
TW	New	TOWERS WATSON & COcl a	$5,316,000	–	51,000	–	0.72%	–
VZ	New	VERIZON COMMUNICATIONS INC	$5,284,000	–	108,000	–	0.71%	–
ORCL	New	ORACLE CORP	$5,269,000	–	130,000	–	0.71%	–
CB	New	CHUBB CORP	$5,254,000	–	57,000	–	0.71%	–
AXP	New	AMERICAN EXPRESS CO	$5,218,000	–	55,000	–	0.70%	–
TJX	New	TJX COS INC NEW	$5,209,000	–	98,000	–	0.70%	–
INTC	New	INTEL CORP	$5,129,000	–	166,000	–	0.69%	–
DNOW	New	NOW INC	$5,033,000	–	139,000	–	0.68%	–
GBX	New	GREENBRIER COS INC	$5,011,000	–	87,000	–	0.68%	–
UTX	New	UNITED TECHNOLOGIES CORP	$4,964,000	–	43,000	–	0.67%	–
DGX	New	QUEST DIAGNOSTICS INC	$4,813,000	–	82,000	–	0.65%	–
GLW	New	CORNING INC	$4,544,000	–	207,000	–	0.61%	–
TEL	New	TE CONNECTIVITY LTD	$4,514,000	–	73,000	–	0.61%	–
QCOM	New	QUALCOMM INC	$4,514,000	–	57,000	–	0.61%	–
XYL	New	XYLEM INC	$4,494,000	–	115,000	–	0.61%	–
9207PS	New	ROCK-TENN COcl a	$4,435,000	–	42,000	–	0.60%	–
IR	New	INGERSOLL-RAND PLC	$4,376,000	–	70,000	–	0.59%	–
SYY	New	SYSCO CORP	$4,344,000	–	116,000	–	0.59%	–
BAX	New	BAXTER INTL INC	$4,338,000	–	60,000	–	0.59%	–
KO	New	COCA COLA CO	$4,194,000	–	99,000	–	0.57%	–
UNH	New	UNITEDHEALTH GROUP INC	$4,169,000	–	51,000	–	0.56%	–
MAS	New	MASCO CORP	$3,996,000	–	180,000	–	0.54%	–
FOSL	New	FOSSIL GROUP INC	$3,763,000	–	36,000	–	0.51%	–
MSFT	New	MICROSOFT CORP	$3,753,000	–	90,000	–	0.51%	–
HRL	New	HORMEL FOODS CORP	$3,652,000	–	74,000	–	0.49%	–
CTAS	New	CINTAS CORP	$3,558,000	–	56,000	–	0.48%	–
WFM	New	WHOLE FOODS MKT INC	$3,438,000	–	89,000	–	0.46%	–
NWL	New	NEWELL RUBBERMAID INC	$3,409,000	–	110,000	–	0.46%	–
PH	New	PARKER HANNIFIN CORP	$3,395,000	–	27,000	–	0.46%	–
WCC	New	WESCO INTL INC	$3,369,000	–	39,000	–	0.46%	–
DE	New	DEERE & CO	$3,350,000	–	37,000	–	0.45%	–
MCD	New	MCDONALDS CORP	$3,324,000	–	33,000	–	0.45%	–
XRAY	New	DENTSPLY INTL INC NEW	$3,314,000	–	70,000	–	0.45%	–
VFC	New	V F CORP	$3,276,000	–	52,000	–	0.44%	–
XOM	New	EXXON MOBIL CORP	$3,121,000	–	31,000	–	0.42%	–
SMP	New	STANDARD MTR PRODS INC	$3,038,000	–	68,000	–	0.41%	–
PBPB	New	POTBELLY CORP	$2,889,000	–	181,000	–	0.39%	–
DORM	New	DORMAN PRODUCTS INC	$2,811,000	–	57,000	–	0.38%	–
ABB	New	ABB LTDsponsored adr	$2,647,000	–	115,000	–	0.36%	–
IART	New	INTEGRA LIFESCIENCES HLDGS	$2,588,000	–	55,000	–	0.35%	–
ACAT	New	ARCTIC CAT INC	$2,483,000	–	63,000	–	0.34%	–
JNS	New	JANUS CAP GROUP INC	$2,259,000	–	181,000	–	0.30%	–
TRW	New	TRW AUTOMOTIVE HLDGS CORP	$2,131,000	–	23,800	–	0.29%	–
DIS	New	DISNEY WALT CO	$2,058,000	–	24,000	–	0.28%	–
CECE	New	CECO ENVIRONMENTAL CORP	$1,980,000	–	127,000	–	0.27%	–
AEGN	New	AEGION CORP	$1,955,000	–	84,000	–	0.26%	–
CULP	New	CULP INC	$1,828,000	–	105,000	–	0.25%	–
GSIG	New	GSI GROUP INC CDA NEW	$1,795,000	–	141,000	–	0.24%	–
MMM	New	3M CO	$1,719,000	–	12,000	–	0.23%	–
NUTR	New	NUTRACEUTICAL INTL CORP	$1,694,000	–	71,000	–	0.23%	–
SCS	New	STEELCASE INCcl a	$1,513,000	–	100,000	–	0.20%	–
HLIT	New	HARMONIC INC	$1,440,000	–	193,000	–	0.19%	–
KAI	New	KADANT INC	$1,269,000	–	33,000	–	0.17%	–
MLR	New	MILLER INDS INC TENN	$1,255,000	–	61,000	–	0.17%	–
UFPT	New	UFP TECHNOLOGIES INC	$1,180,000	–	49,000	–	0.16%	–
RCKY	New	ROCKY BRANDS INC	$1,010,000	–	71,000	–	0.14%	–
AVX	New	AVX CORP	$584,000	–	44,000	–	0.08%	–

Q4 2013

			Value		Shares		↓ Weighting
CMCO	Exit	COLUMBUS MCKINNON CORP	$0	–	-11,000	–	-0.04%	–
AVX	Exit	AVX CORP	$0	–	-44,000	–	-0.09%	–
RCKY	Exit	ROCKY BRANDS INC	$0	–	-36,000	–	-0.10%	–
MEAS	Exit	MEASUREMENT SPECIALTIES INC	$0	–	-12,000	–	-0.10%	–
HI	Exit	HILLENBRAND INC	$0	–	-25,000	–	-0.10%	–
LFUS	Exit	LITTELFUSE INC	$0	–	-9,000	–	-0.11%	–
DORM	Exit	DORMAN PRODUCTS INC	$0	–	-15,000	–	-0.11%	–
SXI	Exit	STANDEX INTERNATIONAL CORP	$0	–	-14,000	–	-0.13%	–
ACAT	Exit	ARCTIC CAT INC	$0	–	-15,000	–	-0.13%	–
AEGN	Exit	AEGION CORP	$0	–	-41,000	–	-0.15%	–
MLR	Exit	MILLER INDUSTRIES INC TENN	$0	–	-60,000	–	-0.16%	–
SWM	Exit	SCHWEITZER-MAUDUIT INTERNATION	$0	–	-17,000	–	-0.16%	–
FINL	Exit	FINISH LINE INCcl a	$0	–	-43,000	–	-0.16%	–
TISI	Exit	TEAM INC	$0	–	-28,000	–	-0.17%	–
CULP	Exit	CULP INC	$0	–	-60,000	–	-0.17%	–
JNS	Exit	JANUS CAPITAL GROUP INC	$0	–	-156,000	–	-0.20%	–
MG	Exit	MISTRAS GROUP INC	$0	–	-80,000	–	-0.21%	–
SXT	Exit	SENSIENT TECHNOLOGIES	$0	–	-30,000	–	-0.22%	–
SEE	Exit	SEALED AIR CORP	$0	–	-70,000	–	-0.29%	–
MMM	Exit	3M CO	$0	–	-18,000	–	-0.33%	–
HSIC	Exit	HENRY SCHEIN INC	$0	–	-29,000	–	-0.46%	–
TJX	Exit	TJX COS INC	$0	–	-55,000	–	-0.48%	–
DOV	Exit	DOVER CORP	$0	–	-35,000	–	-0.48%	–
CB	Exit	CHUBB CORP	$0	–	-36,000	–	-0.49%	–
PH	Exit	PARKER HANNIFIN CORP	$0	–	-30,000	–	-0.50%	–
HRL	Exit	HORMEL FOODS CORP	$0	–	-78,000	–	-0.50%	–
R108	Exit	ENERGIZER HOLDINGS INC	$0	–	-38,000	–	-0.53%	–
THO	Exit	THOR INDUSTRIES INC	$0	–	-60,000	–	-0.53%	–
KO	Exit	COCA COLA CO	$0	–	-93,000	–	-0.54%	–
NWL	Exit	NEWELL RUBBERMAID INC	$0	–	-130,000	–	-0.55%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-6,000	–	-0.62%	–
MCD	Exit	MCDONALD'S CORP	$0	–	-42,000	–	-0.62%	–
BAX	Exit	BAXTER INTERNATIONAL INC	$0	–	-62,000	–	-0.62%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-11,000	–	-0.64%	–
DPS	Exit	DR PEPPER SNAPPLE GROUP INC	$0	–	-93,000	–	-0.64%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-48,000	–	-0.65%	–
FDX	Exit	FEDEX CORP	$0	–	-38,000	–	-0.66%	–
SCHW	Exit	SCHWAB CHARLES CORP	$0	–	-210,000	–	-0.68%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-59,000	–	-0.68%	–
TKR	Exit	TIMKEN CO	$0	–	-74,000	–	-0.69%	–
VSH	Exit	VISHAY INTERTECHNOLOGY INC	$0	–	-356,000	–	-0.70%	–
CMI	Exit	CUMMINS INC	$0	–	-35,000	–	-0.71%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-140,000	–	-0.71%	–
SON	Exit	SONOCO PRODUCTS	$0	–	-120,000	–	-0.72%	–
DBD	Exit	DIEBOLD INC	$0	–	-159,832	–	-0.72%	–
BCR	Exit	BARD C R INC	$0	–	-41,000	–	-0.72%	–
SYY	Exit	SYSCO CORP	$0	–	-149,000	–	-0.73%	–
PNR	Exit	PENTAIR LTD	$0	–	-73,000	–	-0.73%	–
CTAS	Exit	CINTAS CORP	$0	–	-94,000	–	-0.74%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-145,000	–	-0.74%	–
ETH	Exit	ETHAN ALLEN INTERIORS INC	$0	–	-176,000	–	-0.75%	–
ZTS	Exit	ZOETIS INCcl a	$0	–	-160,000	–	-0.76%	–
ALK	Exit	ALASKA AIR GROUP INC	$0	–	-82,000	–	-0.79%	–
DGX	Exit	QUEST DIAGNOSTIC INC	$0	–	-83,000	–	-0.79%	–
GM	Exit	GENERAL MOTORS CO	$0	–	-143,000	–	-0.79%	–
DIS	Exit	DISNEY WALT CO	$0	–	-81,000	–	-0.80%	–
SPLS	Exit	STAPLES INC	$0	–	-361,000	–	-0.81%	–
CMCSA	Exit	COMCAST CORPcl a	$0	–	-121,000	–	-0.84%	–
PETM	Exit	PETSMART INC	$0	–	-72,000	–	-0.84%	–
F113PS	Exit	COVIDIEN PLC	$0	–	-91,000	–	-0.85%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-65,000	–	-0.86%	–
EXPR	Exit	EXPRESS INC	$0	–	-239,000	–	-0.86%	–
KFY	Exit	KORN FERRY INTERNATIONAL	$0	–	-265,000	–	-0.87%	–
FWMHQ	Exit	FAIRWAY GROUP HOLDINGS CORPcl a	$0	–	-223,000	–	-0.87%	–
IR	Exit	INGERSOLL-RAND PLC	$0	–	-88,000	–	-0.88%	–
ADI	Exit	ANALOG DEVICES INC	$0	–	-122,000	–	-0.88%	–
CSCO	Exit	CISCO SYSTEMS INC	$0	–	-245,000	–	-0.88%	–
VFC	Exit	VF CORP	$0	–	-29,000	–	-0.88%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-54,000	–	-0.89%	–
3106PS	Exit	DELPHI AUTOMOTIVE PLC	$0	–	-100,000	–	-0.90%	–
INTC	Exit	INTEL CORP	$0	–	-255,000	–	-0.90%	–
6107SC	Exit	URS CORP	$0	–	-110,000	–	-0.91%	–
ANN	Exit	ANN INC	$0	–	-164,000	–	-0.91%	–
XRAY	Exit	DENTSPLY INTERNATIONAL INC	$0	–	-138,000	–	-0.92%	–
CFN	Exit	CAREFUSION CORP	$0	–	-163,000	–	-0.92%	–
APA	Exit	APACHE CORP	$0	–	-71,000	–	-0.93%	–
RBC	Exit	REGAL BELOIT CORP	$0	–	-91,000	–	-0.95%	–
ZBH	Exit	ZIMMER HOLDINGS INC	$0	–	-76,000	–	-0.96%	–
MSCC	Exit	MICROSEMI CORP	$0	–	-258,000	–	-0.96%	–
BBBY	Exit	BED BATH & BEYOND INC	$0	–	-81,000	–	-0.96%	–
DAL	Exit	DELTA AIR LINES INC	$0	–	-267,000	–	-0.97%	–
TW	Exit	TOWERS WATSON & COcl a	$0	–	-59,000	–	-0.97%	–
AVY	Exit	AVERY DENNISON CORP	$0	–	-145,000	–	-0.97%	–
PEP	Exit	PEPSICO INC	$0	–	-80,000	–	-0.98%	–
NCR	Exit	NCR CORP	$0	–	-161,000	–	-0.98%	–
A	Exit	AGILENT TECHNOLOGIES INC	$0	–	-125,000	–	-0.98%	–
BDX	Exit	BECTON DICKINSON AND CO	$0	–	-65,000	–	-1.00%	–
ROST	Exit	ROSS STORES INC	$0	–	-90,000	–	-1.00%	–
TFX	Exit	TELEFLEX INC	$0	–	-81,000	–	-1.02%	–
IGT	Exit	INTL GAME TECHNOLOGY	$0	–	-356,000	–	-1.03%	–
XYL	Exit	XYLEM INC	$0	–	-245,400	–	-1.05%	–
TDC	Exit	TERADATA CORP	$0	–	-125,000	–	-1.06%	–
QCOM	Exit	QUALCOMM INC	$0	–	-103,000	–	-1.06%	–
BBT	Exit	BB&T CORPORATION	$0	–	-211,000	–	-1.09%	–
KSS	Exit	KOHL'S CORP	$0	–	-140,000	–	-1.11%	–
SYK	Exit	STRYKER CORP	$0	–	-108,000	–	-1.12%	–
DE	Exit	DEERE & CO	$0	–	-90,000	–	-1.12%	–
ENTG	Exit	ENTEGRIS INC	$0	–	-738,000	–	-1.15%	–
NOV	Exit	NATIONAL OILWELL VARCO INC	$0	–	-97,000	–	-1.16%	–
ABM	Exit	ABM INDUSTRIES INC	$0	–	-285,100	–	-1.16%	–
EBAY	Exit	EBAY INC	$0	–	-136,000	–	-1.16%	–
EFX	Exit	EQUIFAX INC	$0	–	-127,000	–	-1.17%	–
DDS	Exit	DILLARDS INCcl a	$0	–	-98,000	–	-1.18%	–
ABB	Exit	ABB LTDsponsored adr	$0	–	-326,000	–	-1.18%	–
MCRS	Exit	MICROS SYSTEMS INC	$0	–	-159,000	–	-1.22%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-92,000	–	-1.22%	–
AAPL	Exit	APPLE INC	$0	–	-17,000	–	-1.24%	–
CRL	Exit	CHARLES RIVER LABORATORIES INT	$0	–	-176,000	–	-1.25%	–
HAR	Exit	HARMAN INTL IND	$0	–	-129,000	–	-1.31%	–
USB	Exit	US BANCORP DEL	$0	–	-235,000	–	-1.32%	–
LOW	Exit	LOWE'S COMPANIES INC	$0	–	-181,000	–	-1.32%	–
COH	Exit	COACH INC	$0	–	-159,000	–	-1.33%	–
SAVE	Exit	SPIRIT AIRLINES INC	$0	–	-253,200	–	-1.33%	–
TER	Exit	TERADYNE INC	$0	–	-527,000	–	-1.34%	–
BIG	Exit	BIG LOTS INC	$0	–	-236,000	–	-1.34%	–
SWHC	Exit	SMITH & WESSON HOLDING C	$0	–	-796,000	–	-1.34%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-368,000	–	-1.35%	–
BEN	Exit	FRANKLIN RESOURCES INC	$0	–	-177,000	–	-1.37%	–
VSI	Exit	VITAMIN SHOPPE INC	$0	–	-207,000	–	-1.39%	–
DD	Exit	DU PONT EI DE NEMOUR & CO	$0	–	-163,000	–	-1.46%	–
M	Exit	MACY'S INC	$0	–	-233,000	–	-1.55%	–
JLL	Exit	JONES LANG LASALLE INC	$0	–	-131,000	–	-1.75%	–
LM	Exit	LEGG MASON INC	$0	–	-360,700	–	-1.85%	–

Q3 2013

			Value		Shares		↓ Weighting
LM	Buy	LEGG MASON INC	$12,062,000	+13.1%	360,700	+4.9%	1.85%	+8.3%
JLL	Buy	JONES LANG LASALLE INC	$11,436,000	+1.2%	131,000	+5.6%	1.75%	-3.1%
M	Buy	MACY'S INC	$10,082,000	+3.5%	233,000	+14.8%	1.55%	-0.9%
DD	Sell	DU PONT EI DE NEMOUR & CO	$9,545,000	+0.4%	163,000	-9.9%	1.46%	-3.8%
VSI	Buy	VITAMIN SHOPPE INC	$9,056,000	+28.6%	207,000	+31.8%	1.39%	+23.2%
BEN	Buy	FRANKLIN RESOURCES INC	$8,947,000	+15.4%	177,000	+210.5%	1.37%	+10.5%
BIG	Buy	BIG LOTS INC	$8,753,000	+19.7%	236,000	+1.7%	1.34%	+14.6%
SWHC	Buy	SMITH & WESSON HOLDING C	$8,748,000	+22.2%	796,000	+11.0%	1.34%	+17.1%
TER	Buy	TERADYNE INC	$8,706,000	-1.1%	527,000	+5.2%	1.34%	-5.3%
SAVE	Buy	SPIRIT AIRLINES INC	$8,677,000	+10.7%	253,200	+2.5%	1.33%	+6.1%
COH	Buy	COACH INC	$8,670,000	+1.9%	159,000	+6.7%	1.33%	-2.3%
LOW	Sell	LOWE'S COMPANIES INC	$8,617,000	+7.5%	181,000	-7.7%	1.32%	+2.9%
HAR	Sell	HARMAN INTL IND	$8,544,000	-19.2%	129,000	-33.8%	1.31%	-22.6%
AAPL	Sell	APPLE INC	$8,105,000	+7.6%	17,000	-10.5%	1.24%	+3.1%
JNJ	Buy	JOHNSON & JOHNSON	$7,975,000	+3.2%	92,000	+2.2%	1.22%	-1.1%
MCRS	Sell	MICROS SYSTEMS INC	$7,940,000	-3.2%	159,000	-16.3%	1.22%	-7.2%
ABB	Sell	ABB LTDsponsored adr	$7,690,000	+2.6%	326,000	-5.8%	1.18%	-1.8%
DDS	New	DILLARDS INCcl a	$7,673,000	–	98,000	–	1.18%	–
EFX	Sell	EQUIFAX INC	$7,601,000	-0.8%	127,000	-2.3%	1.17%	-5.0%
ABM	Sell	ABM INDUSTRIES INC	$7,589,000	+4.6%	285,100	-3.7%	1.16%	+0.2%
ENTG	Buy	ENTEGRIS INC	$7,498,000	+12.5%	738,000	+3.9%	1.15%	+7.8%
DE	Buy	DEERE & CO	$7,325,000	+11.3%	90,000	+11.1%	1.12%	+6.5%
QCOM	Buy	QUALCOMM INC	$6,934,000	+24.7%	103,000	+13.2%	1.06%	+19.4%
TDC	Buy	TERADATA CORP	$6,930,000	+13.1%	125,000	+2.5%	1.06%	+8.4%
XYL	Buy	XYLEM INC	$6,854,000	+45.4%	245,400	+40.2%	1.05%	+39.2%
IGT	Sell	INTL GAME TECHNOLOGY	$6,739,000	-13.5%	356,000	-23.6%	1.03%	-17.2%
TFX	Buy	TELEFLEX INC	$6,665,000	+14.7%	81,000	+8.0%	1.02%	+9.8%
BDX	Sell	BECTON DICKINSON AND CO	$6,501,000	-11.7%	65,000	-12.8%	1.00%	-15.4%
A	Sell	AGILENT TECHNOLOGIES INC	$6,406,000	-6.9%	125,000	-22.4%	0.98%	-10.9%
NCR	Sell	NCR CORP	$6,377,000	+5.1%	161,000	-12.5%	0.98%	+0.6%
PEP	Buy	PEPSICO INC	$6,360,000	+21.5%	80,000	+25.0%	0.98%	+16.3%
AVY	Sell	AVERY DENNISON CORP	$6,310,000	-2.9%	145,000	-4.6%	0.97%	-7.0%
TW	Sell	TOWERS WATSON & COcl a	$6,311,000	-3.7%	59,000	-26.2%	0.97%	-7.8%
DAL	Sell	DELTA AIR LINES INC	$6,299,000	-17.3%	267,000	-34.4%	0.97%	-20.8%
BBBY	Sell	BED BATH & BEYOND INC	$6,266,000	-16.7%	81,000	-23.6%	0.96%	-20.2%
MSCC	Sell	MICROSEMI CORP	$6,257,000	-5.8%	258,000	-11.6%	0.96%	-9.8%
ZBH	Sell	ZIMMER HOLDINGS INC	$6,243,000	-8.5%	76,000	-16.5%	0.96%	-12.4%
RBC	Buy	REGAL BELOIT CORP	$6,182,000	+22.2%	91,000	+16.7%	0.95%	+17.0%
CFN	Sell	CAREFUSION CORP	$6,015,000	-6.2%	163,000	-6.3%	0.92%	-10.2%
XRAY	Sell	DENTSPLY INTERNATIONAL INC	$5,991,000	+1.6%	138,000	-4.2%	0.92%	-2.8%
ANN	New	ANN INC	$5,940,000	–	164,000	–	0.91%	–
6107SC	New	URS CORP	$5,913,000	–	110,000	–	0.91%	–
3106PS	Buy	DELPHI AUTOMOTIVE PLC	$5,842,000	+31.0%	100,000	+13.6%	0.90%	+25.5%
CSCO	Sell	CISCO SYSTEMS INC	$5,741,000	-41.3%	245,000	-39.1%	0.88%	-43.8%
IR	Sell	INGERSOLL-RAND PLC	$5,715,000	-0.1%	88,000	-14.6%	0.88%	-4.4%
FWMHQ	Buy	FAIRWAY GROUP HOLDINGS CORPcl a	$5,700,000	+15.0%	223,000	+8.8%	0.87%	+10.2%
KFY	Sell	KORN FERRY INTERNATIONAL	$5,671,000	-13.0%	265,000	-23.9%	0.87%	-16.7%
EXPR	Sell	EXPRESS INC	$5,638,000	-18.3%	239,000	-27.4%	0.86%	-21.7%
XOM	Sell	EXXON MOBIL CORP	$5,593,000	-7.6%	65,000	-3.0%	0.86%	-11.5%
F113PS	Buy	COVIDIEN PLC	$5,546,000	+35.8%	91,000	+40.0%	0.85%	+30.1%
CMCSA	New	COMCAST CORPcl a	$5,459,000	–	121,000	–	0.84%	–
SPLS	Sell	STAPLES INC	$5,289,000	-28.5%	361,000	-22.5%	0.81%	-31.5%
GM	Buy	GENERAL MOTORS CO	$5,144,000	+64.3%	143,000	+52.1%	0.79%	+57.5%
ZTS	Buy	ZOETIS INCcl a	$4,979,000	+12.7%	160,000	+11.9%	0.76%	+8.1%
ETH	Buy	ETHAN ALLEN INTERIORS INC	$4,905,000	+18.3%	176,000	+22.2%	0.75%	+13.3%
CTAS	Sell	CINTAS CORP	$4,813,000	+5.7%	94,000	-6.0%	0.74%	+1.2%
ABT	Buy	ABBOTT LABORATORIES	$4,813,000	+7.0%	145,000	+12.4%	0.74%	+2.4%
PNR	Sell	PENTAIR LTD	$4,741,000	-22.5%	73,000	-31.1%	0.73%	-25.7%
BCR	Sell	BARD C R INC	$4,723,000	-9.5%	41,000	-14.6%	0.72%	-13.3%
DBD	Buy	DIEBOLD INC	$4,693,000	+4892.6%	159,832	+5608.3%	0.72%	+4700.0%
SON	Sell	SONOCO PRODUCTS	$4,673,000	-12.8%	120,000	-22.6%	0.72%	-16.4%
MSFT	Sell	MICROSOFT CORP	$4,659,000	-51.5%	140,000	-49.6%	0.71%	-53.6%
CMI	Sell	CUMMINS INC	$4,650,000	-27.3%	35,000	-40.7%	0.71%	-30.4%
TKR	Sell	TIMKEN CO	$4,470,000	-32.1%	74,000	-36.8%	0.69%	-35.0%
AXP	Sell	AMERICAN EXPRESS CO	$4,456,000	-2.3%	59,000	-3.3%	0.68%	-6.4%
SCHW	Sell	SCHWAB CHARLES CORP	$4,439,000	-30.1%	210,000	-29.8%	0.68%	-33.0%
FDX	Sell	FEDEX CORP	$4,336,000	-26.7%	38,000	-36.7%	0.66%	-29.8%
SLB	Sell	SCHLUMBERGER LTD	$4,241,000	+13.8%	48,000	-7.7%	0.65%	+8.9%
ISRG	New	INTUITIVE SURGICAL INC	$4,139,000	–	11,000	–	0.64%	–
BAX	Buy	BAXTER INTERNATIONAL INC	$4,073,000	-2.0%	62,000	+3.3%	0.62%	-6.2%
KO	Buy	COCA COLA CO	$3,523,000	-2.4%	93,000	+3.3%	0.54%	-6.6%
THO	Sell	THOR INDUSTRIES INC	$3,482,000	-50.2%	60,000	-57.8%	0.53%	-52.3%
R108	New	ENERGIZER HOLDINGS INC	$3,464,000	–	38,000	–	0.53%	–
HRL	Sell	HORMEL FOODS CORP	$3,285,000	+5.1%	78,000	-3.7%	0.50%	+0.8%
PH	New	PARKER HANNIFIN CORP	$3,262,000	–	30,000	–	0.50%	–
CB	Buy	CHUBB CORP	$3,213,000	+11.6%	36,000	+5.9%	0.49%	+6.9%
DOV	Sell	DOVER CORP	$3,144,000	-29.0%	35,000	-38.6%	0.48%	-32.0%
TJX	Sell	TJX COS INC	$3,101,000	+6.8%	55,000	-5.2%	0.48%	+2.4%
HSIC	Sell	HENRY SCHEIN INC	$3,009,000	-31.7%	29,000	-37.0%	0.46%	-34.6%
MMM	Sell	3M CO	$2,149,000	-50.9%	18,000	-55.0%	0.33%	-52.9%
SEE	New	SEALED AIR CORP	$1,903,000	–	70,000	–	0.29%	–
SXT	Sell	SENSIENT TECHNOLOGIES	$1,437,000	+7.6%	30,000	-9.1%	0.22%	+2.8%
MG	Buy	MISTRAS GROUP INC	$1,360,000	+31.1%	80,000	+35.6%	0.21%	+25.9%
JNS	Buy	JANUS CAPITAL GROUP INC	$1,328,000	+7.6%	156,000	+7.6%	0.20%	+3.0%
CULP	Buy	CULP INC	$1,123,000	+19.6%	60,000	+11.1%	0.17%	+14.7%
FINL	Sell	FINISH LINE INCcl a	$1,069,000	-0.2%	43,000	-12.2%	0.16%	-4.7%
SWM	Sell	SCHWEITZER-MAUDUIT INTERNATION	$1,029,000	+3.1%	17,000	-15.0%	0.16%	-1.2%
MLR	Buy	MILLER INDUSTRIES INC TENN	$1,019,000	+44.1%	60,000	+30.4%	0.16%	+38.1%
ACAT	Sell	ARCTIC CAT INC	$856,000	-9.4%	15,000	-28.6%	0.13%	-13.2%
SXI	Sell	STANDEX INTERNATIONAL CORP	$832,000	+5.2%	14,000	-6.7%	0.13%	+0.8%
LFUS	Sell	LITTELFUSE INC	$704,000	-5.6%	9,000	-10.0%	0.11%	-9.2%
HI	Sell	HILLENBRAND INC	$684,000	+11.0%	25,000	-3.8%	0.10%	+6.1%
MEAS	Sell	MEASUREMENT SPECIALTIES INC	$651,000	-6.7%	12,000	-20.0%	0.10%	-10.7%
RCKY	Sell	ROCKY BRANDS INC	$627,000	+3.6%	36,000	-10.0%	0.10%	-1.0%
CMCO	Sell	COLUMBUS MCKINNON CORP	$264,000	-34.8%	11,000	-42.1%	0.04%	-38.5%
SJM	Exit	SMUCKER (J.M.) CO	$0	–	-7,000	–	-0.12%	–
MFB	Exit	MAIDENFORM BRANDS INC	$0	–	-83,000	–	-0.23%	–
CYN	Exit	CITY NATIONAL CORP	$0	–	-32,000	–	-0.32%	–
STZ	Exit	CONSTELLATION BRANDS INCcl a	$0	–	-55,000	–	-0.46%	–
GPC	Exit	GENUINE PARTS CO	$0	–	-38,000	–	-0.48%	–

Q2 2013

			Value		Shares		↓ Weighting
JLL	New	JONES LANG LASALLE INC	$11,301,000	–	124,000	–	1.81%	–
LM	New	LEGG MASON INC	$10,667,000	–	344,000	–	1.71%	–
HAR	New	HARMAN INTERNATIONAL INDUSTRIE	$10,569,000	–	195,000	–	1.69%	–
CSCO	New	CISCO SYSTEMS INC	$9,783,000	–	402,000	–	1.57%	–
M	New	MACY'S INC	$9,744,000	–	203,000	–	1.56%	–
MSFT	New	MICROSOFT CORP	$9,604,000	–	278,000	–	1.54%	–
DD	New	DUPONT EI DE NEMOURS CO	$9,503,000	–	181,000	–	1.52%	–
TER	New	TERADYNE INC	$8,803,000	–	501,000	–	1.41%	–
GE	New	GENERAL ELECTRIC CO	$8,534,000	–	368,000	–	1.37%	–
COH	New	COACH INC	$8,506,000	–	149,000	–	1.36%	–
USB	New	US BANCORP	$8,495,000	–	235,000	–	1.36%	–
MCRS	New	MICROS SYSTEMS INC	$8,199,000	–	190,000	–	1.31%	–
LOW	New	LOWE'S COMPANIES INC	$8,016,000	–	196,000	–	1.28%	–
SAVE	New	SPIRIT AIRLINES INC	$7,835,000	–	247,000	–	1.26%	–
IGT	New	INTL GAME TECHNOLOGY	$7,787,000	–	466,000	–	1.25%	–
BEN	New	FRANKLIN RESOURCES INC	$7,753,000	–	57,000	–	1.24%	–
JNJ	New	JOHNSON & JOHNSON	$7,727,000	–	90,000	–	1.24%	–
EFX	New	EQUIFAX INC	$7,661,000	–	130,000	–	1.23%	–
DAL	New	DELTA AIR LINES	$7,615,000	–	407,000	–	1.22%	–
AAPL	New	APPLE INC	$7,534,000	–	19,000	–	1.21%	–
BBBY	New	BED BATH & BEYOND INC	$7,521,000	–	106,000	–	1.20%	–
ABB	New	ABB LTDsponsored adr	$7,494,000	–	346,000	–	1.20%	–
SPLS	New	STAPLES INC	$7,395,000	–	466,000	–	1.18%	–
BDX	New	BECTON DICKINSON	$7,363,000	–	74,500	–	1.18%	–
BIG	New	BIG LOTS INC	$7,315,000	–	232,000	–	1.17%	–
ABM	New	ABM INDUSTRIES INC	$7,255,000	–	296,000	–	1.16%	–
CRL	New	CHARLES RIVER LABORATORI	$7,221,000	–	176,000	–	1.16%	–
SWHC	New	SMITH & WESSON HOLDING C	$7,156,000	–	717,000	–	1.15%	–
BBT	New	BB&T CORPORATION	$7,149,000	–	211,000	–	1.14%	–
KSS	New	KOHL'S CORPORATION	$7,071,000	–	140,000	–	1.13%	–
VSI	New	VITAMIN SHOPPE INC	$7,040,000	–	157,000	–	1.13%	–
EBAY	New	EBAY INC	$7,034,000	–	136,000	–	1.13%	–
THO	New	THOR INDUSTRIES INC	$6,993,000	–	142,200	–	1.12%	–
SYK	New	STRYKER CORP	$6,985,000	–	108,000	–	1.12%	–
EXPR	New	EXPRESS INC	$6,899,000	–	329,000	–	1.10%	–
A	New	AGILENT TECHNOLOGIES INC	$6,884,000	–	161,000	–	1.10%	–
ZBH	New	ZIMMER HOLDINGS INC	$6,820,000	–	91,000	–	1.09%	–
NOV	New	NATIONAL OILWELL VARCO I	$6,683,000	–	97,000	–	1.07%	–
ENTG	New	ENTEGRIS INC	$6,663,000	–	710,000	–	1.07%	–
MSCC	New	MICROSEMI CORP	$6,643,000	–	292,000	–	1.06%	–
TKR	New	TIMKEN CO	$6,585,000	–	117,000	–	1.06%	–
DE	New	DEERE & CO	$6,581,000	–	81,000	–	1.05%	–
TW	New	TOWERS WATSON & COcl a	$6,555,000	–	80,000	–	1.05%	–
KFY	New	KORN/FERRY INTERNATIONAL	$6,522,000	–	348,000	–	1.04%	–
AVY	New	AVERY DENNISON CORP	$6,500,000	–	152,000	–	1.04%	–
CFN	New	CAREFUSION CORP	$6,412,000	–	174,000	–	1.03%	–
CMI	New	CUMMINS INC	$6,399,000	–	59,000	–	1.02%	–
SCHW	New	CHARLES SCHWAB CORP	$6,348,000	–	299,000	–	1.02%	–
INTC	New	INTEL CORP	$6,179,000	–	255,000	–	0.99%	–
TDC	New	TERADATA CORP	$6,128,000	–	122,000	–	0.98%	–
PNR	New	PENTAIR	$6,115,000	–	106,000	–	0.98%	–
NCR	New	NCR CORP	$6,070,000	–	184,000	–	0.97%	–
XOM	New	EXXON MOBIL CORP	$6,053,000	–	67,000	–	0.97%	–
APA	New	APACHE CORP	$5,952,000	–	71,000	–	0.95%	–
FDX	New	FEDEX CORP	$5,915,000	–	60,000	–	0.95%	–
XRAY	New	DENTSPLY INTERNATIONAL INC	$5,898,000	–	144,000	–	0.94%	–
ROST	New	ROSS STORES INC	$5,833,000	–	90,000	–	0.93%	–
TFX	New	TELEFLEX INC	$5,812,000	–	75,000	–	0.93%	–
IR	New	INGERSOLL-RAND CO	$5,719,000	–	103,000	–	0.92%	–
VFC	New	VF CORPORATION	$5,599,000	–	29,000	–	0.90%	–
QCOM	New	QUALCOMM INC	$5,559,000	–	91,000	–	0.89%	–
ADI	New	ANALOG DEVICES INC	$5,497,000	–	122,000	–	0.88%	–
SON	New	SONOCO PRODUCTS COMPANY	$5,358,000	–	155,000	–	0.86%	–
PEP	New	PEPSICO INC	$5,235,000	–	64,000	–	0.84%	–
BCR	New	BARD (C.R.) INC	$5,217,000	–	48,000	–	0.84%	–
DIS	New	WALT DISNEY COMPANY/THE	$5,115,000	–	81,000	–	0.82%	–
SYY	New	SYSCO CORP	$5,090,000	–	149,000	–	0.82%	–
RBC	New	REGAL-BELOIT CORP	$5,058,000	–	78,000	–	0.81%	–
DGX	New	QUEST DIAGNOSTICS INC	$5,032,000	–	83,000	–	0.81%	–
UTX	New	UNITED TECHNOLOGIES CORP	$5,019,000	–	54,000	–	0.80%	–
FWMHQ	New	FAIRWAY GROUP HOLDINGS CORPcl a	$4,955,000	–	205,000	–	0.79%	–
VSH	New	VISHAY INTERTECHNOLOGY	$4,945,000	–	356,000	–	0.79%	–
PETM	New	PETSMART INC	$4,823,000	–	72,000	–	0.77%	–
XYL	New	XYLEM INC	$4,715,000	–	175,000	–	0.76%	–
AXP	New	AMERICAN EXPRESS CO	$4,560,000	–	61,000	–	0.73%	–
CTAS	New	CINTAS CORP	$4,554,000	–	100,000	–	0.73%	–
ABT	New	ABBOTT LABORATORIES	$4,500,000	–	129,000	–	0.72%	–
3106PS	New	DELPHI AUTOMOTIVE PLC	$4,461,000	–	88,000	–	0.71%	–
DOV	New	DOVER CORP	$4,427,000	–	57,000	–	0.71%	–
ZTS	New	ZOETIS INCcl a	$4,417,000	–	143,000	–	0.71%	–
HSIC	New	HENRY SCHEIN INC	$4,404,000	–	46,000	–	0.70%	–
MMM	New	3M CO	$4,374,000	–	40,000	–	0.70%	–
DPS	New	DR PEPPER SNAPPLE GROUP	$4,271,000	–	93,000	–	0.68%	–
ALK	New	ALASKA AIR GROUP INC	$4,264,000	–	82,000	–	0.68%	–
MCD	New	MCDONALD'S CORP	$4,158,000	–	42,000	–	0.67%	–
BAX	New	BAXTER INTERNATIONAL INC	$4,156,000	–	60,000	–	0.67%	–
ETH	New	ETHAN ALLEN INTR	$4,147,000	–	144,000	–	0.66%	–
F113PS	New	COVIDIEN PLC	$4,085,000	–	65,000	–	0.65%	–
SLB	New	SCHLUMBERGER LIMITED	$3,726,000	–	52,000	–	0.60%	–
KO	New	COCA-COLA CO	$3,610,000	–	90,000	–	0.58%	–
MA	New	MASTERCARD INCcl a	$3,447,000	–	6,000	–	0.55%	–
NWL	New	NEWELL RUBBERMAID INC	$3,413,000	–	130,000	–	0.55%	–
GM	New	GENERAL MOTORS CO	$3,131,000	–	94,000	–	0.50%	–
HRL	New	HORMEL FOODS CORP	$3,125,000	–	81,000	–	0.50%	–
GPC	New	GENUINE PARTS CO	$2,967,000	–	38,000	–	0.48%	–
TJX	New	TJX COS INC	$2,903,000	–	58,000	–	0.46%	–
CB	New	CHUBB CORPORATION	$2,878,000	–	34,000	–	0.46%	–
STZ	New	CONSTELLATION BRANDS INCcl a	$2,867,000	–	55,000	–	0.46%	–
CYN	New	CITY NATIONAL CORP	$2,028,000	–	32,000	–	0.32%	–
MFB	New	MAIDENFORM BRANDS INC	$1,438,000	–	83,000	–	0.23%	–
SXT	New	SENSIENT TECHNOLOGIES	$1,336,000	–	33,000	–	0.21%	–
JNS	New	JANUS CAPITAL GROUP INC	$1,234,000	–	145,000	–	0.20%	–
FINL	New	FINISH LINE INC/THEcl a	$1,071,000	–	49,000	–	0.17%	–
TISI	New	TEAM INC	$1,060,000	–	28,000	–	0.17%	–
MG	New	MISTRAS GROUP INC	$1,037,000	–	59,000	–	0.17%	–
SWM	New	SCHWEITZER-MAUDUIT INTERNATION	$998,000	–	20,000	–	0.16%	–
ACAT	New	ARCTIC CAT INC	$945,000	–	21,000	–	0.15%	–
CULP	New	CULP INC	$939,000	–	54,000	–	0.15%	–
AEGN	New	AEGION CORP	$923,000	–	41,000	–	0.15%	–
SXI	New	STANDEX INTERNATIONAL CORP	$791,000	–	15,000	–	0.13%	–
LFUS	New	LITTELFUSE INC	$746,000	–	10,000	–	0.12%	–
SJM	New	SMUCKER (J.M.) CO	$722,000	–	7,000	–	0.12%	–
MLR	New	MILLER INDUSTRIES INC/TN	$707,000	–	46,000	–	0.11%	–
MEAS	New	MEASUREMENT SPECIALTIES INC	$698,000	–	15,000	–	0.11%	–
DORM	New	DORMAN PRODUCTS INC	$684,000	–	15,000	–	0.11%	–
HI	New	HILLENBRAND INC	$616,000	–	26,000	–	0.10%	–
RCKY	New	ROCKY BRANDS INC	$605,000	–	40,000	–	0.10%	–
AVX	New	AVX CORP	$517,000	–	44,000	–	0.08%	–
CMCO	New	COLUMBUS MCKINNON CORP	$405,000	–	19,000	–	0.06%	–
DBD	New	DIEBOLD INC	$94,000	–	2,800	–	0.02%	–

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