Martin Whitman - Third Avenue Management LLC

Martin Whitman - Third Avenue Management

Period:    Q1 2026
Portfolio date:    31 Mar 2026
No. of stocks:    53
Portfolio value:    $616,036,133

Holdings Activity Buys Sells History

History	Stock	Activity ▼	Share change	% change to portfolio
	Q1 2026
☰	FSV - FirstService Corp.	Add 169.59%	31,738	0.72
☰	OSG - Octave Specialty Group, Inc.	Add 71.49%	559,118	0.42
☰	FLG - Flagstar Bank, National Association	Add 52.43%	113,936	0.24
☰	ALG - Alamo Group Inc.	Add 43.00%	10,323	0.28
☰	ICFI - ICF International, Inc.	Add 35.70%	18,872	0.20
☰	BCC - Boise Cascade Co.	Add 30.70%	132,022	1.63
☰	OCFC - OceanFirst Financial Corp.	Add 27.93%	53,855	0.16
☰	UHAL.B - U-Haul Holdings CL B	Add 9.69%	25,129	0.18
☰	TDW - Tidewater Inc.	Add 5.51%	48,110	0.65
☰	BXC - BlueLinx Holdings Inc.	Add 0.05%	30	0.00
☰	HOG - Harley-Davidson, Inc.	Buy	1,462,670	4.80
☰	RHI - Robert Half Inc.	Buy	903,905	3.73
☰	BKD - Brookdale Senior Living Inc.	Buy	463,664	1.03
☰	CPRX - Catalyst Pharmaceuticals, Inc.	Buy	210,161	0.84
☰	QLYS - Qualys, Inc.	Buy	39,120	0.56
☰	COMP - Compass, Inc.	Buy	187,469	0.22
	Q4 2025
☰	FNF - Fidelity National Financial, Inc.	Add 66.86%	82,274	0.82
☰	ALG - Alamo Group Inc.	Add 61.47%	9,140	0.28
☰	BCC - Boise Cascade Co.	Add 57.10%	156,294	2.09
☰	AMH - American Homes 4 Rent	Add 45.77%	87,446	0.51
☰	BXC - BlueLinx Holdings Inc.	Add 38.79%	17,982	0.20
☰	OSG - Octave Specialty Group, Inc.	Add 29.62%	178,702	0.25
☰	OCFC - OceanFirst Financial Corp.	Add 18.77%	30,476	0.10
☰	ICFI - ICF International, Inc.	Add 12.42%	5,840	0.09
☰	UNF - UniFirst Corp.	Add 9.66%	2,505	0.09
☰	WY - Weyerhaeuser Co.	Add 5.97%	9,662	0.04
☰	PHM - PulteGroup, Inc.	Add 4.05%	3,918	0.08
☰	WCC - WESCO International, Inc.	Add 1.01%	202	0.01
☰	DHI - D.R. Horton, Inc.	Add 0.15%	116	0.00
☰	SUI - Sun Communities, Inc.	Add 0.14%	136	0.00
☰	LEN.B - Lennar CL B	Add 0.11%	165	0.00
☰	ITIC - Investors Title Co.	Add 0.05%	11	0.00
☰	ROG - Rogers Corp.	Add 0.05%	106	0.00
☰	PLD - Prologis, Inc.	Add 0.04%	57	0.00
☰	SD - SandRidge Energy, Inc.	Add 0.04%	120	0.00
☰	UHAL.B - U-Haul Holdings CL B	Add 0.01%	21	0.00
☰	DB - Deutsche Bank Aktiengesellschaft	Buy	337,193	2.36
☰	FSV - FirstService Corp.	Buy	18,714	0.53
☰	FLG - Flagstar Bank, National Association	Buy	217,305	0.50
☰	FG - F&G Annuities & Life, Inc.	Buy	12,319	0.07
	Q3 2025
☰	SKY - Champion Homes, Inc.	Add 77.75%	46,544	0.68
☰	UNF - UniFirst Corp.	Add 11.02%	2,573	0.08
☰	OCFC - OceanFirst Financial Corp.	Add 0.06%	93	0.00
☰	HCC - Warrior Met Coal, Inc.	Add 0.04%	232	0.00
☰	TPH-OLD - Tri Pointe Homes, Inc.	Add 0.02%	25	0.00
☰	BCC - Boise Cascade Co.	Buy	273,705	3.98
☰	ROG - Rogers Corp.	Buy	199,368	3.06
	Q2 2025
☰	OSG - Octave Specialty Group, Inc.	Add 64.65%	236,930	0.35
☰	BXC - BlueLinx Holdings Inc.	Add 55.20%	16,488	0.25
☰	PHM - PulteGroup, Inc.	Add 51.93%	33,131	0.72
☰	OCFC - OceanFirst Financial Corp.	Add 39.09%	45,595	0.17
☰	WCC - WESCO International, Inc.	Add 35.56%	5,271	0.20
☰	PLD - Prologis, Inc.	Add 12.67%	16,360	0.35
☰	KALU - Kaiser Aluminum Corp.	Add 12.16%	9,707	0.16
☰	TDW - Tidewater Inc.	Add 8.14%	65,899	0.63
☰	SUI - Sun Communities, Inc.	Add 7.16%	6,495	0.17
☰	HCC - Warrior Met Coal, Inc.	Add 4.64%	28,478	0.27
☰	UHAL.B - U-Haul Holdings CL B	Add 3.86%	9,645	0.11
☰	VAL - Valaris Ltd.	Add 2.82%	16,082	0.14
☰	LEN.B - Lennar CL B	Add 0.18%	263	0.01
☰	CTLP - Cantaloupe, Inc.	Buy	370,013	0.84
☰	SKY - Champion Homes, Inc.	Buy	59,865	0.77
☰	VC - Visteon Corp.	Buy	10,298	0.20
	Q1 2025
☰	OCFC - OceanFirst Financial Corp.	Add 91.66%	55,784	0.19
☰	OSG - Octave Specialty Group, Inc.	Add 59.04%	136,045	0.24
☰	TDW - Tidewater Inc.	Add 37.59%	221,079	1.87
☰	VAL - Valaris Ltd.	Add 33.57%	143,231	1.13
☰	ICFI - ICF International, Inc.	Add 6.42%	2,836	0.05
☰	HCC - Warrior Met Coal, Inc.	Add 4.39%	25,761	0.25
☰	WCC - WESCO International, Inc.	Add 0.56%	83	0.00
☰	KALU - Kaiser Aluminum Corp.	Add 0.26%	205	0.00
☰	PLD - Prologis, Inc.	Add 0.17%	219	0.00
☰	CMA - Comerica Inc.	Add 0.01%	23	0.00
☰	PHM - PulteGroup, Inc.	Buy	63,800	1.32
☰	BXC - BlueLinx Holdings Inc.	Buy	29,869	0.45
☰	MRP - Millrose Properties, Inc.	Buy	80,890	0.43
	Q4 2024
☰	VTMX - Vesta Real Estate Corp.	Add 150.00%	15,000	0.07
☰	PBF - PBF Energy Inc.	Add 52.46%	45,092	0.23
☰	FPH - Five Point Holdings, LLC	Add 24.61%	814,981	0.60
☰	TDW - Tidewater Inc.	Add 22.16%	106,705	1.13
☰	SD - SandRidge Energy, Inc.	Add 17.87%	50,144	0.11
☰	COLL - Collegium Pharmaceutical, Inc.	Add 11.36%	20,750	0.12
☰	SUI - Sun Communities, Inc.	Add 0.32%	342	0.01
☰	OSG - Octave Specialty Group, Inc.	Buy	230,416	0.56
☰	OCFC - OceanFirst Financial Corp.	Buy	60,859	0.21
	Q3 2024
☰	WCC - WESCO International, Inc.	Add 211.21%	10,003	0.27
☰	MYRG - MYR Group Inc.	Add 7.44%	5,040	0.08
☰	HCC - Warrior Met Coal, Inc.	Add 4.06%	31,012	0.32
☰	VAL - Valaris Ltd.	Add 2.90%	12,189	0.11
☰	DB - Deutsche Bank Aktiengesellschaft	Add 0.29%	7,232	0.02
☰	COLL - Collegium Pharmaceutical, Inc.	Add 0.20%	370	0.00
☰	ECPG - Encore Capital Group, Inc.	Add 0.20%	344	0.00
☰	LXU - LSB Industries, Inc.	Add 0.20%	1,538	0.00
☰	PB - Prosperity Bancshares, Inc.	Add 0.20%	203	0.00
☰	SUPN - Supernus Pharmaceuticals, Inc.	Add 0.20%	375	0.00
☰	AMH - American Homes 4 Rent	Add 0.19%	600	0.00
☰	CBRE - CBRE Group, Inc.	Add 0.11%	210	0.00
☰	PLD - Prologis, Inc.	Add 0.04%	54	0.00
☰	RYN - Rayonier Inc.	Add 0.01%	47	0.00
☰	UHAL.B - U-Haul Holdings CL B	Add 0.01%	19	0.00
☰	SD - SandRidge Energy, Inc.	Buy	280,554	0.56
☰	PBF - PBF Energy Inc.	Buy	85,958	0.43
	Q2 2024
☰	COLL - Collegium Pharmaceutical, Inc.	Add 68.59%	74,161	0.41
☰	SUI - Sun Communities, Inc.	Add 23.65%	20,617	0.43
☰	SUPN - Supernus Pharmaceuticals, Inc.	Add 18.41%	29,401	0.14
☰	UNF - UniFirst Corp.	Add 17.74%	3,519	0.10
☰	PLD - Prologis, Inc.	Add 10.31%	12,043	0.23
☰	FR - First Industrial Realty Trust, Inc.	Add 1.20%	1,867	0.02
☰	FNF - Fidelity National Financial, Inc.	Add 0.60%	729	0.01
☰	BATRK - Atlanta Braves Holdings, Inc.	Add 0.52%	135	0.00
☰	BAM - Brookfield Asset Management Ltd.	Add 0.33%	433	0.00
☰	CBRE - CBRE Group, Inc.	Add 0.33%	601	0.01
☰	FPH - Five Point Holdings, LLC	Add 0.22%	7,267	0.00
☰	ITIC - Investors Title Co.	Add 0.08%	33	0.00
☰	CMA - Comerica Inc.	Add 0.06%	280	0.00
☰	LAZ - Lazard, Inc.	Add 0.06%	337	0.00
☰	VAL - Valaris Ltd.	Add 0.06%	234	0.00
☰	HCC - Warrior Met Coal, Inc.	Add 0.05%	384	0.00
☰	ORI - Old Republic International Corp.	Add 0.05%	427	0.00
☰	FRPH - FRP Holdings, Inc.	Add 0.03%	77	0.00
☰	WCC - WESCO International, Inc.	Buy	4,736	0.13
☰	VTMX - Vesta Real Estate Corp.	Buy	10,000	0.05
	Q1 2024
☰	SUI - Sun Communities, Inc.	Add 72.17%	36,544	0.75
☰	LXU - LSB Industries, Inc.	Add 66.50%	314,695	0.44
☰	ELME - Elme Communities	Add 43.08%	28,000	0.06
☰	PRA-OLD - ProAssurance Corp.	Add 38.20%	169,484	0.35
☰	COLL - Collegium Pharmaceutical, Inc.	Add 30.08%	25,000	0.15
☰	BATRK - Atlanta Braves Holdings, Inc.	Add 0.60%	157	0.00
☰	PLD - Prologis, Inc.	Add 0.41%	473	0.01
☰	AMH - American Homes 4 Rent	Add 0.33%	1,129	0.01
☰	FPH - Five Point Holdings, LLC	Add 0.27%	8,867	0.00
☰	FR - First Industrial Realty Trust, Inc.	Add 0.27%	415	0.00
☰	RYN - Rayonier Inc.	Add 0.19%	627	0.00
☰	WY - Weyerhaeuser Co.	Add 0.18%	662	0.00
☰	LAZ - Lazard, Inc.	Buy	550,472	3.68
	Q4 2023
☰	LXU - LSB Industries, Inc.	Add 1445.54%	442,596	0.67
☰	SUI - Sun Communities, Inc.	Add 38.62%	14,107	0.31
☰	SUPN - Supernus Pharmaceuticals, Inc.	Add 37.04%	43,168	0.21
☰	ITIC - Investors Title Co.	Add 32.32%	9,565	0.25
☰	KALU - Kaiser Aluminum Corp.	Add 14.49%	14,018	0.16
☰	BATRK - Atlanta Braves Holdings, Inc.	Add 1.17%	300	0.00
☰	BAM - Brookfield Asset Management Ltd.	Add 0.95%	1,233	0.01
☰	CBRE - CBRE Group, Inc.	Add 0.72%	1,298	0.02
☰	ORI - Old Republic International Corp.	Add 0.10%	864	0.00
☰	CMA - Comerica Inc.	Add 0.08%	373	0.00
☰	VAL - Valaris Ltd.	Add 0.07%	281	0.00
☰	DB - Deutsche Bank Aktiengesellschaft	Add 0.05%	1,228	0.00
☰	SEB - Seaboard Corp.	Add 0.04%	1	0.00
☰	COLL - Collegium Pharmaceutical, Inc.	Buy	83,120	0.42
	Q3 2023
☰	ITIC - Investors Title Co.	Add 343.56%	22,926	0.57
☰	SUI - Sun Communities, Inc.	Add 217.16%	25,010	0.50
☰	SUPN - Supernus Pharmaceuticals, Inc.	Add 73.79%	49,487	0.23
☰	WASH - Washington Trust Bancorp.	Add 44.50%	90,842	0.42
☰	ELME - Elme Communities	Add 44.44%	20,000	0.05
☰	ECPG - Encore Capital Group, Inc.	Add 17.75%	25,723	0.20
☰	PRA-OLD - ProAssurance Corp.	Add 0.02%	109	0.00
☰	BATRK - Atlanta Braves Holdings, Inc.	Buy	25,700	0.15
☰	LXU - LSB Industries, Inc.	Buy	30,618	0.05
	Q2 2023
☰	SUPN - Supernus Pharmaceuticals, Inc.	Add 2626.10%	64,602	0.32
☰	KALU - Kaiser Aluminum Corp.	Add 50.39%	32,406	0.38
☰	JLL - Jones Lang LaSalle Inc.	Add 45.17%	23,143	0.59
☰	RMR - The RMR Group Inc.	Add 42.31%	11,000	0.04
☰	VAL - Valaris Ltd.	Add 35.74%	110,522	1.15
☰	UNF - UniFirst Corp.	Add 32.76%	4,895	0.13
☰	ROIC - Retail Opportunity Investments Corp.	Add 20.00%	15,000	0.03
☰	CMA - Comerica Inc.	Add 19.68%	94,548	0.66
☰	ECPG - Encore Capital Group, Inc.	Add 9.12%	12,118	0.10
☰	CTO - CTO Realty Growth, Inc.	Add 8.85%	5,121	0.01
☰	DB - Deutsche Bank Aktiengesellschaft	Add 1.24%	37,467	0.06
☰	LAZ - Lazard, Inc.	Add 0.41%	2,256	0.01
☰	HA - Hawaiian Holdings Inc.	Add 0.39%	5,992	0.01
☰	ORI - Old Republic International Corp.	Add 0.23%	1,900	0.01
☰	HCC - Warrior Met Coal, Inc.	Add 0.12%	1,644	0.01
☰	SUI - Sun Communities, Inc.	Buy	11,517	0.25
☰	EQC - Equity Commonwealth	Buy	55,000	0.18
☰	ITIC - Investors Title Co.	Buy	6,673	0.16
☰	WSR - Whitestone REIT	Buy	80,000	0.13
☰	ELME - Elme Communities	Buy	45,000	0.12
	Q1 2023
☰	HA - Hawaiian Holdings Inc.	Add 141.00%	910,431	1.43
☰	CMA - Comerica Incorporated	Add 58.30%	176,912	1.31
☰	SPHR - Sphere Entertainment Co.	Add 27.82%	38,277	0.18
☰	LAZ - Lazard, Inc.	Add 20.09%	91,664	0.52
☰	PRA-OLD - ProAssurance Corp.	Add 17.16%	65,042	0.21
☰	UMBF - UMB Financial Corp.	Add 15.87%	20,471	0.20
☰	WASH - Washington Tst Bcp	Add 11.80%	21,569	0.13
☰	ECPG - Encore Capital Group, Inc.	Add 11.13%	13,306	0.12
☰	HCC - Warrior Met Coal, Inc.	Add 5.39%	68,653	0.43
☰	DB - Deutsche Bank Aktiengesellschaft	Add 4.25%	122,738	0.21
☰	VAL - Valaris Ltd.	Add 3.09%	9,269	0.10
☰	BAM - Brookfield Asset Management Ltd.	Add 0.37%	487	0.00
☰	FR - First Industrial Realty Trust, Inc.	Add 0.35%	558	0.01
☰	CBRE - CBRE Group, Inc.	Add 0.27%	479	0.01
☰	BN - Brookfield Corp.	Add 0.11%	876	0.00
☰	TPHS - Trinity Place Holdings Inc.	Add 0.00%	1	0.00
☰	JLL - Jones Lang LaSalle Inc.	Buy	51,235	1.27
	Q4 2022
☰	SBSI - Southside Bancshares, Inc.	Add 33.30%	52,317	0.33
☰	PRA-OLD - ProAssurance Corp.	Add 12.46%	42,008	0.13
☰	TPH-OLD - Tri Pointe Homes, Inc.	Add 7.44%	22,873	0.07
☰	DB - Deutsche Bank Aktiengesellschaft	Buy	2,888,365	5.68
☰	UHAL.B - U-Haul Holdings CL B	Buy	312,444	2.99
☰	BN - Brookfield Corp.	Buy	780,963	2.85
☰	ECPG - Encore Capital Group, Inc.	Buy	119,531	1.00
☰	BAM - Brookfield Asset Management Ltd.	Buy	130,159	0.65
☰	URTH - Ishares Inc	Buy	2,631	0.05
	Q3 2022
☰	TPH-OLD - Tri Pointe Homes, Inc.	Add 25.11%	61,669	0.18
☰	KALU - Kaiser Aluminum Corp.	Add 23.30%	12,155	0.15
☰	LAZ - Lazard, Inc.	Add 15.19%	60,754	0.38
☰	HA - Hawaiian Holdings Inc.	Add 15.10%	118,196	0.31
☰	PRA-OLD - ProAssurance Corp.	Add 13.47%	39,997	0.15
	Q2 2022
☰	DHI - D.R. Horton, Inc.	Add 7469.02%	226,162	2.66
☰	GRBK - Green Brick Partners, Inc.	Add 62.50%	10,000	0.03
☰	SPHR - Sphere Entertainment Co.	Add 27.65%	40,733	0.18
☰	TPH-OLD - Tri Pointe Homes, Inc.	Add 25.87%	50,481	0.15
☰	RMR - The RMR Group Inc.	Add 13.04%	3,000	0.02
☰	CBRE - CBRE Group, Inc.	Add 12.79%	20,963	0.27
☰	LAZ - Lazard, Inc.	Add 7.93%	29,398	0.17
☰	HCC - Warrior Met Coal, Inc.	Add 4.62%	61,569	0.34
☰	VAL - Valaris Ltd.	Add 1.06%	3,412	0.03
☰	CCF - Chase Corp.	Buy	40,292	0.56
☰	SUPN - Supernus Pharmaceuticals, Inc.	Buy	2,460	0.01
	Q1 2022
☰	CTT - Catchmark Timber Trust Inc.	Add 359.06%	317,905	0.35
☰	HBB - Hamilton Beach Brand	Add 87.73%	285,243	0.45
☰	IVT - Inventrust Properties Corp.	Add 67.43%	339,833	1.43
☰	AAMI - Brightsphere Investment Group	Add 46.53%	43,792	0.15
☰	HA - Hawaiian Holdings Inc.	Add 24.19%	237,849	0.64
☰	UHAL - U-Haul Holdings Co.	Add 4.41%	18,450	0.15
☰	VAL - Valaris Ltd.	Add 3.45%	10,689	0.08
☰	TDW - Tidewater Inc.	Add 0.97%	20,225	0.06
☰	ORI - Old Republic International Corp.	Add 0.83%	6,949	0.02
☰	LAZ - Lazard, Inc.	Add 0.47%	1,723	0.01
☰	FPH - Five Point Holdings, LLC	Add 0.20%	17,239	0.01
☰	DHI - D.R. Horton, Inc.	Buy	3,028	0.03
	Q4 2021
☰	SPHR - Sphere Entertainment Co.	Add 147.90%	87,892	0.38
☰	APTS - Preferred Apartment Communities	Add 76.32%	196,698	0.47
☰	HBB - Hamilton Beach Brand	Add 15.11%	42,688	0.08
☰	HCC - Warrior Met Coal, Inc.	Add 7.80%	134,911	0.46
☰	TPHS - Trinity Place Holdings	Add 7.14%	434,210	0.11
☰	STRS - Stratus Properties Inc.	Add 1.22%	1,717	0.01
☰	IVT - Inventrust Properties Corp.	Buy	503,945	1.81
☰	CTT - Catchmark Timber Trust Inc.	Buy	88,539	0.10
	Q3 2021
☰	HBB - Hamilton Beach Brand	Add 24.30%	55,213	0.12
☰	CALM - Cal-Maine Foods, Inc.	Add 20.28%	23,541	0.11
☰	STRS - Stratus Properties Inc.	Add 10.63%	13,556	0.06
☰	CBRE - CBRE Group, Inc.	Add 0.95%	1,571	0.02
☰	LEN.B - Lennar CL B	Add 0.40%	2,044	0.02
☰	FPH - Five Point Holdings, LLC	Add 0.32%	28,806	0.03
☰	HCC - Warrior Met Coal, Inc.	Add 0.29%	5,043	0.02
☰	FNF - Fidelity National Financial, Inc.	Add 0.25%	689	0.00
☰	WY - Weyerhaeuser Co.	Add 0.25%	2,034	0.01
☰	RYN - Rayonier Inc.	Add 0.20%	1,665	0.01
☰	VAL - Valaris Ltd.	Buy	310,047	1.46
☰	APTS - Preferred Apartment Communities	Buy	257,713	0.42
☰	SPHR - Sphere Entertainment Co.	Buy	59,425	0.27
	Q2 2021
☰	RMR - The RMR Group Inc.	Add 64.29%	9,000	0.05
☰	HCC - Warrior Met Coal, Inc.	Add 24.52%	339,727	0.77
☰	AMH - American Homes 4 Rent	Add 4.29%	20,851	0.11
☰	FRPH - FRP Holdings, Inc.	Add 1.23%	3,704	0.01
☰	LEN.B - Lennar CL B	Add 0.20%	990	0.01
☰	STRS - Stratus Properties Inc.	Buy	127,562	0.42
	Q1 2021
☰	ATNI - ATN International Inc.	Add 55.83%	33,642	0.22
☰	HBB - Hamilton Beach Brand	Add 22.14%	41,193	0.10
☰	SEB - Seaboard Corp.	Add 16.80%	336	0.16
☰	FRPH - FRP Holdings, Inc.	Add 16.08%	41,720	0.14
☰	HCC - Warrior Met Coal, Inc.	Add 13.91%	169,148	0.38
☰	FPH - Five Point Holdings, LLC	Add 1.84%	161,681	0.16
☰	TDW - Tidewater Inc.	Add 1.24%	31,100	0.05
☰	HA - Hawaiian Holdings Inc.	Add 0.94%	9,596	0.03
☰	LAZ - Lazard, Inc.	Add 0.72%	2,642	0.02
☰	ORI - Old Republic International Corp.	Add 0.51%	5,666	0.02
☰	CMA - Comerica Inc.	Add 0.49%	1,827	0.02
☰	LEN.B - Lennar CL B	Add 0.17%	869	0.01
☰	TPHS - Trinity Place Holdings	Add 0.05%	2,760	0.00
☰	AAMI - Brightsphere Investment Group	Buy	193,259	0.52
	Q4 2020
☰	HBB - Hamilton Beach Brand	Add 195.16%	123,003	0.30
☰	PB - Prosperity Bancshares, Inc.	Add 43.22%	32,572	0.32
☰	BATRA - Atlanta Braves Holdings, Inc.	Add 41.90%	51,413	0.18
☰	SBSI - Southside Bancshares, Inc.	Add 21.11%	31,509	0.14
☰	CALM - Cal-Maine Foods, Inc.	Add 16.41%	22,466	0.12
☰	AMH - American Homes 4 Rent	Add 12.09%	55,824	0.24
☰	KFY - Korn Ferry	Add 9.13%	29,996	0.18
☰	WASH - Washington Trust Bancorp.	Add 8.82%	14,806	0.09
☰	MAC - The Macerich Co.	Add 4.92%	18,449	0.03
☰	CTO - CTO Realty Growth, Inc.	Add 4.74%	2,619	0.00
☰	SEB - Seaboard Corp.	Add 4.06%	78	0.03
☰	ICFI - ICF International, Inc.	Add 0.08%	69	0.00
☰	UMBF - UMB Financial Corp.	Add 0.04%	57	0.00
☰	LAZ - Lazard, Inc.	Buy	366,216	2.17
☰	PRA-OLD - ProAssurance Corp.	Buy	297,038	0.74
☰	SPY - State Street SPDR S&P 500 ETF Trust	Buy	377	0.02
	Q3 2020
☰	WASH - Washington Trust Bancorp.	Add 155.09%	102,105	0.44
☰	CTO - CTO Realty Growth, Inc.	Add 87.50%	25,788	0.04
☰	KALU - Kaiser Aluminum Corp.	Add 41.32%	16,980	0.13
☰	ROIC - Retail Opportunity Investments Corp.	Add 36.36%	20,000	0.03
☰	CIO - City Office REIT, Inc.	Add 27.27%	15,000	0.02
☰	PCH - Potlatchdeltic Corp.	Add 25.00%	4,000	0.02
☰	PB - Prosperity Bancshares, Inc.	Add 23.24%	14,208	0.10
☰	SBSI - Southside Bancshares, Inc.	Add 18.96%	23,794	0.08
☰	ORI - Old Republic International Corp.	Add 14.94%	167,031	0.34
☰	AMH - American Homes 4 Rent	Add 14.76%	59,413	0.24
☰	CMA - Comerica Inc.	Add 13.91%	47,627	0.25
☰	SEB - Seaboard Corp.	Add 12.53%	214	0.08
☰	TDW - Tidewater Inc.	Add 4.13%	114,624	0.11
☰	TPHS - Trinity Place Holdings	Add 0.11%	6,790	0.00
☰	KFY - Korn Ferry	Buy	328,473	1.32
☰	HBB - Hamilton Beach Brand	Buy	63,027	0.17
	Q2 2020
☰	BATRA - Atlanta Braves Holdings, Inc.	Add 78.59%	54,000	0.15
☰	CMA - Comerica Inc.	Add 44.37%	105,222	0.56
☰	ORI - Old Republic International Corp.	Add 40.26%	320,961	0.73
☰	TPH-OLD - Tri Pointe Homes, Inc.	Add 33.29%	71,696	0.15
☰	BAM.A - Brookfield Asset Mgmt. CL A	Add 28.74%	308,999	1.42
☰	UMBF - UMB Financial Corp.	Add 18.64%	27,263	0.20
☰	KALU - Kaiser Aluminum Corp.	Add 18.18%	6,320	0.06
☰	CTB - Cooper Tire & Rubber Company	Add 8.59%	19,982	0.08
☰	FIX - Comfort Systems USA, Inc.	Add 6.90%	9,296	0.05
☰	VC - Visteon Corp.	Add 5.70%	4,096	0.04
☰	MAC - The Macerich Co.	Add 5.16%	18,411	0.02
☰	TPHS - Trinity Place Holdings	Add 0.39%	23,829	0.00
☰	FDX - FedEx Corp.	Add 0.34%	300	0.00
☰	TDW - Tidewater Inc.	Add 0.10%	2,826	0.00
☰	AMH - American Homes 4 Rent	Buy	402,492	1.52
☰	WASH - Washington Trust Bancorp.	Buy	65,834	0.30
	Q1 2020
☰	JCAP - Jernigan Capital	Add 142.91%	28,582	0.05
☰	SRG - Seritage Growth Properties	Add 94.60%	316,761	0.43
☰	VNO - Vornado Realty Trust	Add 76.03%	441,462	2.36
☰	CTB - Cooper Tire & Rubber Company	Add 57.34%	84,805	0.20
☰	FNF - Fidelity National Financial, Inc.	Add 41.99%	118,113	0.40
☰	EXP - Eagle Materials Inc.	Add 37.80%	67,046	0.58
☰	GRBK - Green Brick Partners, Inc.	Add 33.33%	20,000	0.03
☰	RESI - Front Yard Residential Corporation	Add 16.60%	4,272	0.01
☰	MHK - Mohawk Industries, Inc.	Add 13.44%	19,738	0.22
☰	HA - Hawaiian Holdings	Add 10.84%	118,889	0.18
☰	UMBF - UMB Financial Corp.	Add 10.67%	14,106	0.10
☰	TPHS - Trinity Place Holdings	Add 3.49%	203,936	0.05
☰	HCC - Warrior Met Coal, Inc.	Add 3.15%	56,386	0.09
☰	JBGS - JBG Smith Properties	Add 0.79%	9,710	0.05
☰	TDW - Tidewater Inc.	Add 0.62%	17,141	0.02
☰	PLD - Prologis, Inc.	Buy	368,926	4.38
☰	ESS - Essex Property Trust, Inc.	Buy	97,734	3.18
☰	PSA - Public Storage	Buy	101,528	2.98
☰	LOW - Lowe's Companies, Inc.	Buy	169,215	2.15
☰	ORI - Old Republic International Corp.	Buy	797,168	1.80
☰	CBRE - CBRE Group, Inc.	Buy	235,115	1.31
☰	FDX - FedEx Corp.	Buy	88,745	1.28
☰	CALM - Cal-Maine Foods, Inc.	Buy	136,928	0.89
☰	CET - Central Securities Corp.	Buy	111,210	0.42
☰	BATRA - Atlanta Braves Holdings, Inc.	Buy	68,715	0.20
☰	IYR - Ishares Dow Jones Real Estate Index	Buy	9,000	0.09
☰	NXRT - NexPoint Residential Trust, Inc.	Buy	23,000	0.09
☰	PCH - Potlatchdeltic Corp.	Buy	16,000	0.07
☰	ROIC - Retail Opportunity Investments Corp.	Buy	55,000	0.07
☰	STC - Stewart Information Services Corp.	Buy	17,000	0.07
☰	CIO - City Office REIT, Inc.	Buy	55,000	0.06
☰	RMR - The RMR Group Inc.	Buy	14,000	0.06
☰	CTO - CTO Realty Growth, Inc.	Buy	29,472	0.05
☰	MNR - Monmouth Real Estate Investment Corp.	Buy	30,000	0.05
	Q4 2019
☰	CTB - Cooper Tire & Rubber Company	Add 52.27%	50,767	0.14
☰	AGX - Argan, Inc.	Add 25.25%	33,612	0.13
☰	MAC - The Macerich Co.	Add 23.18%	259,115	0.69
☰	UMBF - UMB Financial Corp.	Add 8.52%	10,375	0.07
☰	UHAL - U-Haul Holdings Co.	Add 6.46%	48,660	0.18
☰	FPH - Five Point Holdings, LLC	Add 6.25%	689,010	0.47
☰	SRG - Seritage Growth Properties	Add 3.45%	11,173	0.04
☰	CLNY - Colony Capital Inc.	Add 2.77%	48,525	0.02
☰	TPHS - Trinity Place Holdings	Add 2.38%	135,675	0.04
☰	HCC - Warrior Met Coal, Inc.	Add 1.10%	19,513	0.04
☰	EXP - Eagle Materials Inc.	Add 0.83%	1,462	0.01
☰	TDW - Tidewater Inc.	Add 0.63%	17,188	0.03
☰	MHK - Mohawk Industries, Inc.	Add 0.44%	642	0.01
☰	ATNI - ATN International Inc.	Add 0.14%	185	0.00
☰	MYRG - MYR Group Inc.	Add 0.04%	148	0.00
☰	HHC - Howard Hughes Corporation	Buy	112,780	1.41
☰	SPY - State Street SPDR S&P 500 ETF Trust	Buy	3,365	0.11
	Q3 2019
☰	VNO - Vornado Realty Trust	Add 56.27%	223,862	1.29
☰	MYRG - MYR Group Inc.	Add 19.28%	61,974	0.17
☰	FIX - Comfort Systems USA, Inc.	Add 19.00%	21,499	0.09
☰	MHK - Mohawk Industries, Inc.	Add 18.63%	22,965	0.26
☰	TDW - Tidewater Inc.	Add 5.23%	136,110	0.19
☰	CUBI - Customers Bancorp Inc	Add 2.95%	16,092	0.03
☰	PNC - The PNC Financial Services Group, Inc.	Add 1.99%	5,285	0.07
☰	SRG - Seritage Growth Properties	Add 1.94%	6,152	0.02
☰	UHAL - U-Haul Holdings Co.	Add 0.78%	5,840	0.02
☰	LEN.B - Lennar CL B	Add 0.70%	9,271	0.04
☰	JBGS - JBG Smith Properties	Add 0.51%	6,635	0.02
☰	TPHS - Trinity Place Holdings	Add 0.48%	27,508	0.01
☰	HCC - Warrior Met Coal, Inc.	Add 0.35%	6,227	0.01
☰	CLNY - Colony Capital Inc.	Buy	1,754,908	0.95
☰	CTB - Cooper Tire & Rubber Company	Buy	97,126	0.23
	Q2 2019
☰	AGX - Argan, Inc.	Add 49.60%	44,142	0.15
☰	MHK - Mohawk Industries, Inc.	Add 38.80%	34,452	0.43
☰	VC - Visteon Corp.	Add 38.65%	52,615	0.26
☰	TPHS - Trinity Place Holdings	Add 12.87%	647,578	0.21
☰	SRG - Seritage Growth Properties	Add 12.32%	34,837	0.13
☰	TDW - Tidewater Inc.	Add 6.47%	158,043	0.31
☰	CUBI - Customers Bancorp Inc	Add 4.98%	25,877	0.05
☰	HA - Hawaiian Holdings Inc	Add 3.44%	47,019	0.11
☰	LEN.B - Lennar CL B	Add 1.45%	19,064	0.06
☰	MAC - The Macerich Co.	Add 1.45%	20,402	0.06
☰	PNC - The PNC Financial Services Group, Inc.	Add 0.34%	895	0.01
☰	FPH - Five Point Holdings, LLC	Add 0.30%	34,718	0.02
	Q1 2019
☰	JBGS - JBG Smith Properties	Add 106.40%	677,731	2.17
☰	VC - Visteon Corp.	Add 40.47%	39,217	0.19
☰	ATNI - ATN International Inc.	Add 18.39%	21,157	0.10
☰	HA - Hawaiian Holdings Inc.	Add 14.59%	174,111	0.37
☰	FRPH - FRP Holdings, Inc.	Add 6.27%	15,540	0.03
☰	SEB - Seaboard Corp.	Add 6.09%	98	0.03
☰	TPHS - Trinity Place Holdings	Add 1.47%	72,758	0.02
☰	TDW - Tidewater Inc.	Add 1.44%	34,721	0.06
☰	FPH - Five Point Holdings, LLC	Add 0.96%	109,577	0.08
☰	RIG - Transocean Ltd.	Add 0.71%	10,657	0.01
☰	LEN.B - Lennar CL B	Add 0.46%	5,959	0.02
☰	TPH-OLD - Tri Pointe Homes, Inc.	Add 0.12%	709	0.00
☰	SMHI - SEACOR Marine Holdings Inc.	Add 0.02%	63	0.00
☰	CUBI - Customers Bancorp Inc	Add 0.01%	39	0.00
☰	EXP - Eagle Materials Inc.	Buy	175,889	1.21
☰	MHK - Mohawk Industries, Inc.	Buy	88,805	0.92
☰	44K - Carter Bank & Trust	Buy	337,575	0.52
☰	AGX - Argan, Inc.	Buy	89,000	0.33
	Q4 2018
☰	PNC - The PNC Financial Services Group, Inc.	Add 584.38%	241,068	2.31
☰	FRPH - FRP Holdings, Inc.	Add 242.40%	175,552	0.33
☰	ASIX - AdvanSix Inc.	Add 198.39%	152,085	0.30
☰	HA - Hawaiian Holdings Inc.	Add 107.89%	619,532	1.34
☰	RESI - Front Yard Residential Corporation	Add 79.37%	72,709	0.05
☰	SAFM - Sanderson Farms Inc.	Add 71.52%	25,467	0.21
☰	CTT - Catchmark Timber Trust Inc.	Add 68.50%	54,802	0.03
☰	VC - Visteon Corp.	Add 58.17%	35,638	0.18
☰	CCS - Century Communities, Inc.	Add 57.67%	24,031	0.03
☰	GRBK - Green Brick Partners, Inc.	Add 40.98%	21,800	0.01
☰	UMBF - UMB Financial Corp.	Add 34.83%	38,958	0.19
☰	CDR - Cedar Realty Trust Inc.	Add 30.62%	69,000	0.02
☰	SEB - Seaboard Corp.	Add 13.62%	193	0.06
☰	FPH - Five Point Holdings, LLC	Add 12.02%	1,228,656	0.70
☰	TDW - Tidewater Inc.	Add 7.62%	170,464	0.27
☰	TPH-OLD - Tri Pointe Homes, Inc.	Add 7.42%	41,844	0.04
☰	MYRG - MYR Group Inc.	Add 7.33%	21,950	0.05
☰	LEN.B - Lennar CL B	Add 5.68%	70,206	0.17
☰	WY - Weyerhaeuser Co.	Add 2.65%	124,006	0.22
☰	CMA - Comerica Inc.	Add 1.82%	9,683	0.05
☰	SRG - Seritage Growth Properties	Add 1.28%	3,750	0.01
☰	JBGS - JBG Smith Properties	Add 1.13%	7,109	0.02
☰	TPHS - Trinity Place Holdings	Add 0.22%	10,797	0.00
☰	SMHI - SEACOR Marine Holdings Inc.	Add 0.03%	102	0.00
☰	RIG - Transocean Ltd.	Buy	1,510,628	0.86
☰	CUBI - Customers Bancorp Inc	Buy	519,113	0.77
☰	SPY - State Street SPDR S&P 500 ETF Trust	Buy	11,248	0.23
☰	WLH - William Lyon Homes - Cl A	Buy	44,471	0.04
	Q3 2018
☰	SAFM - Sanderson Farms Inc.	Add 131.11%	20,200	0.12
☰	JBGS - JBG Smith Properties	Add 95.59%	307,848	0.64
☰	HA - Hawaiian Holdings Inc	Add 43.95%	175,319	0.40
☰	RESI - Front Yard Residential Corporation	Add 40.94%	26,609	0.02
☰	TPH-OLD - Tri Pointe Homes, Inc.	Add 37.29%	153,213	0.11
☰	UMBF - UMB Financial Corp.	Add 37.07%	30,253	0.12
☰	BXP - BXP, Inc.	Add 25.70%	104,984	0.25
☰	CSGS-OLD - CSG Systems International, Inc.	Add 21.79%	28,445	0.06
☰	FPH - Five Point Holdings, LLC	Add 17.77%	1,541,609	0.82
☰	VC - Visteon Corp.	Add 15.47%	8,208	0.04
☰	ORIG - Ocean Rig UDW Inc.	Add 14.17%	116,277	0.23
☰	LEN.B - Lennar CL B	Add 7.09%	81,843	0.17
☰	GRBK - Green Brick Partners, Inc.	Add 6.40%	3,200	0.00
☰	MYRG - MYR Group Inc.	Add 5.64%	15,987	0.03
☰	HCC - Warrior Met Coal, Inc.	Add 5.57%	140,067	0.21
☰	SRG - Seritage Growth Properties	Add 0.63%	1,825	0.00
☰	FNF - Fidelity National Financial, Inc.	Add 0.30%	1,782	0.00
☰	MAC - The Macerich Co.	Add 0.30%	4,742	0.01
☰	TPHS - Trinity Place Holdings	Add 0.29%	14,085	0.00
☰	LOW - Lowe's Companies, Inc.	Add 0.27%	1,307	0.01
☰	VNO - Vornado Realty Trust	Add 0.27%	2,263	0.01
☰	UHAL - U-Haul Holdings Co.	Add 0.25%	2,210	0.00
☰	RYN - Rayonier Inc.	Add 0.21%	5,037	0.01
☰	AKR - Acadia Realty Trust	Add 0.16%	2,964	0.00
☰	SEB - Seaboard Corp.	Add 0.14%	2	0.00
☰	LEN - Lennar Corp.	Add 0.08%	2,092	0.01
☰	SMHI - SEACOR Marine Holdings Inc.	Add 0.07%	259	0.00
☰	PNC - The PNC Financial Services Group, Inc.	Add 0.01%	3	0.00
☰	ASIX - AdvanSix Inc.	Buy	76,658	0.15
	Q2 2018
☰	FPH - Five Point Holdings, LLC	Add 225.09%	6,007,552	3.35
☰	LEN.B - Lennar CL B	Add 149.61%	692,335	1.39
☰	HCC - Warrior Met Coal, Inc.	Add 97.71%	1,243,282	1.70
☰	SRG - Seritage Growth Properties	Add 36.97%	78,620	0.16
☰	MAC - The Macerich Co.	Add 29.87%	363,613	1.02
☰	CDR - Cedar Realty Trust Inc	Add 28.25%	49,628	0.01
☰	SMHI - SEACOR Marine Holdings Inc.	Add 22.52%	65,750	0.08
☰	PB - Prosperity Bancshares, Inc.	Add 20.36%	21,152	0.07
☰	MYRG - MYR Group Inc.	Add 14.88%	36,724	0.06
☰	SEB - Seaboard Corp.	Add 9.78%	126	0.02
☰	CSGS-OLD - CSG Systems International, Inc.	Add 7.96%	9,629	0.02
☰	BXP - BXP, Inc.	Add 3.68%	14,503	0.03
☰	PNC - The PNC Financial Services Group, Inc.	Add 3.23%	1,289	0.01
☰	FCE.A - Forest City Enterprises Inc. CL A	Add 2.15%	151,542	0.17
☰	TDW - Tidewater Inc.	Add 1.17%	26,106	0.04
☰	FRPH - FRP Holdings, Inc.	Add 0.78%	558	0.00
☰	AKR - Acadia Realty Trust	Add 0.34%	6,260	0.01
☰	UNF - UniFirst Corp.	Add 0.31%	92	0.00
☰	PRSU - Viad Corp.	Add 0.27%	293	0.00
☰	UMBF - UMB Financial Corp.	Add 0.27%	221	0.00
☰	FNF - Fidelity National Financial, Inc.	Add 0.25%	1,471	0.00
☰	UHAL - U-Haul Holdings Co.	Add 0.25%	2,140	0.00
☰	BMCH - BMC Stock Holdings, Inc.	Add 0.24%	778	0.00
☰	TTEK - Tetra Tech, Inc.	Add 0.22%	1,445	0.00
☰	ZION - Zions Bancorporation, National Association	Add 0.22%	1,232	0.00
☰	LOW - Lowe's Companies, Inc.	Add 0.21%	1,006	0.00
☰	VNO - Vornado Realty Trust	Add 0.21%	1,731	0.01
☰	TPHS - Trinity Place Holdings	Add 0.20%	9,865	0.00
☰	CUB - Cubic, Corp.	Add 0.19%	246	0.00
☰	FR - First Industrial Realty Trust, Inc.	Add 0.18%	2,994	0.00
☰	ICFI - ICF International, Inc.	Add 0.17%	243	0.00
☰	Y - Alleghany Corp.	Add 0.05%	33	0.00
☰	HA - Hawaiian Holdings Inc	Buy	398,880	0.71
☰	ATNI - Atn International Inc	Buy	115,053	0.30
☰	SAFM - Sanderson Farms Inc.	Buy	15,407	0.08
☰	RESI - Front Yard Residential Corporation	Buy	65,000	0.03
☰	GRBK - Green Brick Partners, Inc.	Buy	50,000	0.02
☰	JCAP - Jernigan Capital	Buy	25,000	0.02
	Q1 2018
☰	LEN.B - Lennar CL B	Add 212.50%	314,681	0.73
☰	BXP - BXP, Inc.	Add 148.24%	235,262	0.54
☰	HCC - Warrior Met Coal, Inc.	Add 85.39%	586,102	0.84
☰	CSGS-OLD - CSG Systems International, Inc.	Add 79.94%	53,716	0.12
☰	UHAL - U-Haul Holdings Co.	Add 57.77%	319,380	0.56
☰	MAC - The Macerich Co.	Add 43.22%	367,332	1.05
☰	SEB - Seaboard Corp.	Add 37.57%	352	0.08
☰	TDW - Tidewater Inc.	Add 33.26%	557,318	0.81
☰	FCE.A - Forest City Enterprises Inc. CL A	Add 23.68%	1,346,825	1.39
☰	VNO - Vornado Realty Trust	Add 20.20%	139,772	0.48
☰	BMCH - BMC Stock Holdings, Inc.	Add 18.15%	49,149	0.05
☰	DB - Deutsche Bank Aktiengesellschaft	Add 16.67%	100,000	0.07
☰	FPH - Five Point Holdings, LLC	Add 3.23%	83,435	0.06
☰	Y - Alleghany Corp.	Add 2.25%	1,555	0.05
☰	WTM - White Mountains Insurance Group, Ltd.	Add 1.03%	347	0.01
☰	LOW - Lowe's Companies, Inc.	Add 0.95%	4,497	0.02
☰	JBGS - JBG Smith Properties	Add 0.84%	2,680	0.00
☰	TPHS - Trinity Place Holdings	Add 0.64%	31,131	0.01
☰	RYN - Rayonier Inc.	Add 0.61%	18,699	0.03
☰	FR - First Industrial Realty Trust, Inc.	Add 0.57%	9,694	0.01
☰	ZION - Zions Bancorporation, National Association	Add 0.51%	2,854	0.01
☰	FNF - Fidelity National Financial, Inc.	Add 0.45%	2,626	0.00
☰	LEN - Lennar Corp.	Add 0.38%	10,399	0.03
☰	BNY - The Bank of New York Mellon Cor	Add 0.00%	19	0.00
☰	AKR - Acadia Realty Trust	Buy	1,822,246	2.28
☰	ORIG - Ocean Rig UDW Inc.	Buy	820,373	1.05
☰	SRG - Seritage Growth Properties	Buy	212,680	0.39
☰	SMHI - SEACOR Marine Holdings Inc.	Buy	291,900	0.28
☰	FRPH - FRP Holdings, Inc.	Buy	71,864	0.10
	Q4 2017
☰	LM - Legg Mason Inc.	Add 215.87%	128,079	0.26
☰	LEN.B - Lennar CL B	Add 193.59%	97,644	0.23
☰	TDW - Tidewater Inc.	Add 164.16%	1,041,376	1.22
☰	MYRG - MYR Group Inc.	Add 89.28%	116,424	0.20
☰	DB - Deutsche Bank Aktiengesellschaft	Add 20.00%	100,000	0.09
☰	ALCO - Alico, Inc.	Add 17.31%	20,724	0.03
☰	FCE.A - Forest City Enterprises Inc. CL A	Add 17.04%	828,259	0.96
☰	TRC - Tejon Ranch Co.	Add 16.50%	375,979	0.38
☰	FCN - FTI Consulting, Inc.	Add 16.43%	22,391	0.05
☰	VC - Visteon Corp.	Add 13.06%	6,366	0.04
☰	PB - Prosperity Bancshares, Inc.	Add 11.64%	10,826	0.04
☰	CBSH - Commerce Bancshares, Inc	Add 5.00%	6,566	0.01
☰	FPH - Five Point Holdings, LLC	Add 4.82%	118,878	0.08
☰	WTM - White Mountains Insurance Group, Ltd.	Add 3.83%	1,247	0.05
☰	JCI - Johnson Controls International plc	Add 3.24%	38,591	0.07
☰	AMGN - Amgen Inc.	Add 3.15%	6,609	0.06
☰	MAS - Masco Corp.	Add 0.37%	2,069	0.00
☰	VNO - Vornado Realty Trust	Add 0.28%	1,913	0.01
☰	MAC - The Macerich Co.	Add 0.25%	2,128	0.01
☰	ZION - Zions Bancorporation, National Association	Add 0.16%	867	0.00
☰	BAM.A - Brookfield Asset Mgmt. CL A	Add 0.06%	2,372	0.00
☰	UHAL - U-Haul Holdings Co.	Buy	552,860	1.00
☰	HCC - Warrior Met Coal, Inc.	Buy	686,383	0.83
☰	BXP - BXP, Inc.	Buy	158,707	0.31
	Q3 2017
☰	WSBC - WesBanco, Inc.	Add 96.30%	54,600	0.10
☰	AMN - AMN Healthcare Services, Inc.	Add 94.53%	69,800	0.15
☰	CRZO - Carrizo Oil & Gas Inc.	Add 83.44%	135,300	0.10
☰	MAC - The Macerich Co.	Add 69.27%	346,900	0.87
☰	PDCO - Patterson Companies Inc	Add 60.86%	49,600	0.09
☰	JCI - Johnson Controls International plc	Add 56.65%	430,233	0.79
☰	MYRG - MYR Group Inc.	Add 39.61%	37,000	0.05
☰	CCS - Century Communities, Inc.	Add 25.80%	14,697	0.02
☰	DB - Deutsche Bank Aktiengesellschaft	Add 25.00%	100,000	0.08
☰	RS - Reliance, Inc.	Add 14.38%	45,252	0.16
☰	FNSR - Finisar Corp.	Add 10.42%	19,000	0.02
☰	PDCE - PDC Energy, Inc.	Add 8.67%	6,300	0.01
☰	SYNA - Synaptics Inc.	Add 6.02%	5,500	0.01
☰	WKC - World Kinect Corp.	Add 5.47%	9,100	0.01
☰	FIX - Comfort Systems USA, Inc.	Add 5.02%	8,100	0.01
☰	EOG - EOG Resources, Inc.	Add 3.85%	9,235	0.04
☰	HAYN - Haynes International Inc.	Add 2.56%	3,256	0.01
☰	TPHS - Trinity Place Holdings	Add 0.22%	10,600	0.00
☰	ZION - Zions Bancorporation, National Association	Add 0.22%	1,200	0.00
☰	BAM.A - Brookfield Asset Mgmt. CL A	Add 0.21%	8,899	0.02
☰	FR - First Industrial Realty Trust, Inc.	Add 0.20%	3,500	0.00
☰	FCE.A - Forest City Enterprises Inc. CL A	Add 0.13%	6,200	0.01
☰	LOW - Lowe's Companies, Inc.	Add 0.13%	600	0.00
☰	RYN - Rayonier Inc.	Add 0.11%	3,700	0.00
☰	KIM - Kimco Realty Corp.	Buy	1,080,300	0.96
☰	TDW - Tidewater Inc.	Buy	634,354	0.84
☰	JBGS - JBG Smith Properties	Buy	319,357	0.50
	Q2 2017
☰	TPH-OLD - Tri Pointe Homes, Inc.	Add 97.83%	203,200	0.12
☰	AVT - Avnet, Inc.	Add 81.75%	232,451	0.41
☰	EOG - EOG Resources, Inc.	Add 52.73%	82,724	0.34
☰	MYRG - MYR Group Inc.	Add 45.26%	29,100	0.04
☰	PLAB - Photronics Inc.	Add 37.38%	127,300	0.05
☰	MAC - The Macerich Co.	Add 29.81%	115,000	0.30
☰	CORE - Core-Mark Holding Co. Inc.	Add 23.93%	17,699	0.03
☰	SP - SP Plus Corp.	Add 17.12%	29,000	0.04
☰	KALU - Kaiser Aluminum Corp.	Add 13.18%	8,100	0.03
☰	BMCH - BMC Stock Holdings, Inc.	Add 11.66%	29,600	0.03
☰	CZZ - Cosan Ltd.	Add 10.18%	52,000	0.01
☰	SYNT - Syntel, Inc.	Add 8.26%	37,300	0.03
☰	VNO - Vornado Realty Trust	Add 6.59%	48,861	0.17
☰	SYNA - Synaptics Inc.	Add 6.29%	5,400	0.01
☰	TRC - Tejon Ranch Co.	Add 2.19%	48,925	0.04
☰	TPHS - Trinity Place Holdings	Add 1.12%	53,900	0.02
☰	PKY - Parkway Inc.	Add 0.58%	6,100	0.01
☰	KW-OLD - Kennedy-Wilson Holdings, Inc.	Add 0.28%	3,500	0.00
☰	NX - Quanex Building Products Corp.	Add 0.23%	500	0.00
☰	FPH - Five Point Holdings, LLC	Buy	2,466,661	1.64
☰	RS - Reliance, Inc.	Buy	314,698	1.04
☰	DB - Deutsche Bank Aktiengesellschaft	Buy	400,000	0.32
☰	FNSR - Finisar Corp.	Buy	182,400	0.21
☰	HAYN - Haynes International Inc.	Buy	127,187	0.21
☰	HZN - Horizon Global Corp.	Buy	268,100	0.17
☰	PDCE - PDC Energy, Inc.	Buy	72,700	0.14
☰	AMN - AMN Healthcare Services, Inc.	Buy	73,842	0.13
☰	WSBC - WesBanco, Inc.	Buy	56,700	0.10
	Q1 2017
☰	SYNA - Synaptics Inc.	Add 443.72%	70,107	0.16
☰	LEN.B - Lennar CL B	Add 344.32%	41,956	0.08
☰	NX - Quanex Building Products Corp.	Add 173.56%	135,900	0.13
☰	BMCH - BMC Stock Holdings, Inc.	Add 80.00%	112,800	0.12
☰	VOD - Vodafone Group Public Ltd. Co.	Add 67.08%	1,259	0.00
☰	SYNT - Syntel, Inc.	Add 62.31%	173,291	0.13
☰	CRZO - Carrizo Oil & Gas Inc.	Add 58.98%	60,600	0.08
☰	TTEN - Total Fina ELF S A ADR	Add 53.98%	984	0.00
☰	MAC - The Macerich Co.	Add 44.33%	118,500	0.36
☰	TNET - Trinet Group Services	Add 44.17%	56,800	0.08
☰	GIII - G-III Apparel Group, Ltd.	Add 36.54%	52,100	0.05
☰	RL - Ralph Lauren Corp.	Add 33.52%	90,537	0.34
☰	VMI - Valmont Industries, Inc.	Add 26.96%	458	0.00
☰	TILE - Interface, Inc.	Add 19.75%	39,900	0.03
☰	KALU - Kaiser Aluminum Corp.	Add 16.48%	8,700	0.03
☰	G - Genpact Ltd.	Add 14.75%	32,700	0.04
☰	TPHS - Trinity Place Holdings	Add 14.46%	610,000	0.21
☰	WKC - World Kinect Corp.	Add 10.13%	15,300	0.03
☰	ARCO - Arcos Dorados Holdings Inc.	Add 8.55%	99,500	0.04
☰	PDCO - Patterson Companies Inc	Add 8.09%	6,100	0.01
☰	ICFI - ICF International, Inc.	Add 6.94%	9,400	0.02
☰	JCI - Johnson Controls International plc	Add 6.61%	47,343	0.09
☰	DST - DST Systems	Add 3.73%	3,600	0.01
☰	SHPG - Shire Plc - ADR	Add 2.51%	1,702	0.01
☰	BKD - Brookdale Senior Living Inc.	Add 2.27%	46,013	0.03
☰	CBM - Cambrex Corp.	Add 2.27%	1,900	0.00
☰	LIVN - LivaNova PLC	Add 1.19%	6,133	0.01
☰	KEY - KeyCorp	Add 1.03%	10,208	0.01
☰	DVN - Devon Energy Corp.	Add 0.52%	3,961	0.01
☰	BNY - The Bank of New York Mellon Cor	Add 0.49%	8,671	0.02
☰	AXE - Anixter International Inc.	Add 0.46%	1,628	0.01
☰	WTM - White Mountains Insurance Group, Ltd.	Add 0.46%	295	0.01
☰	MAS - Masco Corp.	Add 0.40%	3,453	0.01
☰	AMGN - Amgen Inc.	Add 0.39%	822	0.01
☰	CERN - Cerner Corp.	Add 0.34%	1,390	0.00
☰	LEN - Lennar Corp.	Add 0.16%	5,007	0.01
☰	EOG - EOG Resources, Inc.	Buy	156,897	0.71
☰	AVT - Avnet, Inc.	Buy	284,341	0.61
☰	PLAB - Photronics Inc.	Buy	340,600	0.17
☰	TPH-OLD - Tri Pointe Homes, Inc.	Buy	207,700	0.12
☰	CORE - Core-Mark Holding Co. Inc.	Buy	73,962	0.11
☰	CDR - Cedar Realty Trust Inc	Buy	175,700	0.04
	Q4 2016
☰	TPHS - Trinity Place Holdings	Add 33044.90%	4,206,285	1.81
☰	LEN - Lennar Corp.	Add 199.93%	2,067,238	3.93
☰	SYNT - Syntel, Inc.	Add 136.31%	160,418	0.15
☰	AMGN - Amgen Inc.	Add 56.65%	76,036	0.52
☰	LIVN - LivaNova PLC	Add 54.49%	181,929	0.38
☰	SP - SP Plus Corp.	Add 38.36%	46,974	0.06
☰	WKC - World Kinect Corp.	Add 12.13%	16,340	0.03
☰	CRZO - Carrizo Oil & Gas Inc.	Add 11.16%	10,318	0.02
☰	DST - DST Systems	Add 8.36%	7,454	0.02
☰	MAS - Masco Corp.	Add 8.25%	64,969	0.10
☰	KALU - Kaiser Aluminum Corp.	Add 6.83%	3,373	0.01
☰	G - Genpact Ltd.	Add 6.47%	13,470	0.02
☰	CBSH - Commerce Bancshares, Inc	Add 4.61%	10,425	0.02
☰	JCI - Johnson Controls International plc	Add 1.41%	9,981	0.02
☰	PKY - Parkway Inc.	Buy	1,044,662	1.08
☰	CERN - Cerner Corp.	Buy	408,707	0.90
☰	KFY - Korn Ferry	Buy	125,500	0.17
☰	TNET - Trinet Group Services	Buy	128,600	0.15
☰	BMCH - BMC Stock Holdings, Inc.	Buy	141,000	0.13
☰	NX - Quanex Building Products Corp.	Buy	78,300	0.07
☰	SYNA - Synaptics Inc.	Buy	15,800	0.04
☰	LEN.B - Lennar CL B	Buy	12,185	0.02
	Q3 2016
☰	CRZO - Carrizo Oil & Gas Inc.	Add 97.09%	45,535	0.09
☰	GIII - G-III Apparel Group, Ltd.	Add 60.28%	53,865	0.08
☰	SHPG - Shire Plc - ADR	Add 42.61%	20,384	0.19
☰	LIVN - LivaNova PLC	Add 24.58%	65,871	0.19
☰	KEX - Kirby Corp.	Add 17.10%	15,241	0.05
☰	CBM - Cambrex Corp.	Add 9.47%	7,258	0.02
☰	WKC - World Kinect Corp.	Add 9.24%	11,397	0.02
☰	SEB - Seaboard Corp.	Add 4.68%	42	0.01
☰	B - Barrick Mining Corp.	Add 2.75%	2,800	0.01
☰	KALU - Kaiser Aluminum Corp.	Add 2.59%	1,248	0.01
☰	WCIC - WCI Communities Inc.	Add 0.73%	3,843	0.00
☰	SMP - Standard Motor Products, Inc.	Add 0.08%	123	0.00
☰	SBSI - Southside Bancshares, Inc.	Add 0.07%	149	0.00
☰	NSIT - Insight Enterprises, Inc.	Add 0.04%	89	0.00
☰	TILE - Interface, Inc.	Add 0.04%	103	0.00
☰	TTEK - Tetra Tech, Inc.	Add 0.04%	275	0.00
☰	JCI - Johnson Controls International plc	Buy	705,743	1.55
☰	FIX - Comfort Systems USA, Inc.	Buy	162,058	0.22
☰	SP - SP Plus Corp.	Buy	122,449	0.15
	Q2 2016
☰	SEB - Seaboard Corp.	Add 4626.32%	879	0.12
☰	TILE - Interface, Inc.	Add 199.68%	166,159	0.11
☰	TPHS - Trinity Place Holdings	Add 111.13%	6,700	0.00
☰	HAR - Harman International Industries, Inc.	Add 43.50%	121,474	0.40
☰	RL - Ralph Lauren Corp.	Add 20.09%	45,968	0.19
☰	WCIC - WCI Communities Inc.	Add 19.53%	85,823	0.07
☰	B - Barrick Mining Corp.	Add 9.78%	9,072	0.01
☰	CUB - Cubic, Corp.	Add 9.47%	14,897	0.03
☰	SBSI - Southside Bancshares, Inc.	Add 5.00%	10,849	0.01
☰	SYNT - Syntel, Inc.	Add 4.84%	5,438	0.01
☰	JCN - Johnson Controls Inc.	Buy	604,458	1.22
☰	AMGN - Amgen Inc.	Buy	135,642	0.94
☰	LIVN - LivaNova PLC	Buy	267,977	0.62
☰	SHPG - Shire Plc - ADR	Buy	47,840	0.40
☰	NTCT - NetScout Systems, Inc.	Buy	270,281	0.27
☰	GIII - G-III Apparel Group, Ltd.	Buy	89,353	0.19
☰	FRGI - Fiesta Restaurant Group, Inc.	Buy	114,406	0.11
☰	NXRT - Nexpoint Residnl Tr	Buy	25,000	0.02
	Q1 2016
☰	KW-OLD - Kennedy-Wilson Holdings, Inc.	Add 165.55%	898,612	0.77
☰	LABL - Multi-Color Corporation	Add 36.58%	34,691	0.07
☰	CUB - Cubic, Corp.	Add 11.22%	15,871	0.03
☰	BAM.A - Brookfield Asset Mgmt. CL A	Add 9.56%	413,494	0.57
☰	UNF - UniFirst Corp.	Add 8.99%	3,240	0.01
☰	SBSI - Southside Bancshares, Inc.	Add 7.23%	14,639	0.01
☰	VC - Visteon Corp.	Add 4.64%	5,735	0.02
☰	CZZ - Cosan Ltd.	Add 4.34%	49,127	0.01
☰	PNC - The PNC Financial Services Group, Inc.	Add 1.18%	8,288	0.03
☰	ALCO - Alico, Inc.	Add 0.16%	212	0.00
☰	DST - DST Systems	Add 0.11%	96	0.00
☰	ICFI - ICF International, Inc.	Add 0.09%	164	0.00
☰	VLY - Valley National Bancorp	Add 0.08%	561	0.00
☰	CBSH - Commerce Bancshares, Inc	Add 0.06%	134	0.00
☰	ABM - ABM Industries Inc.	Add 0.05%	48	0.00
☰	BR - Broadridge Financial Solutions, Inc.	Add 0.05%	53	0.00
☰	FCN - FTI Consulting, Inc.	Add 0.05%	117	0.00
☰	FLWS - 1-800-Flowers.com Inc.	Add 0.05%	332	0.00
☰	MYRG - MYR Group Inc.	Add 0.04%	50	0.00
☰	TTEK - Tetra Tech, Inc.	Add 0.03%	450	0.00
☰	FCE.A - Forest City Enterprises Inc. CL A	Buy	5,661,733	4.71
☰	LEN - Lennar Corp.	Buy	1,179,780	2.14
☰	FNF - Fidelity National Financial, Inc.	Buy	1,180,168	1.06
☰	HAR - Harman International Industries, Inc.	Buy	279,242	0.98
☰	HHC - Howard Hughes Corporation	Buy	235,600	0.98
☰	RL - Ralph Lauren Corp.	Buy	228,864	0.87
☰	CSW - CSW Industrials Inc.	Buy	150,348	0.19
☰	CBM - Cambrex Corp.	Buy	76,681	0.13
☰	CRZO - Carrizo Oil & Gas Inc.	Buy	46,900	0.06
☰	TILE - Interface, Inc.	Buy	83,211	0.06
☰	FCE.B - Forest City Enterprises Inc. CL B	Buy	702	0.00
☰	SEB - Seaboard Corp.	Buy	19	0.00
☰	TPHS - Trinity Place Holdings	Buy	6,029	0.00
	Q4 2015
☰	SEMG - SemGroup Corporation - CL A	Add 36.73%	38,225	0.04
☰	VOD - Vodafone Group Public Ltd. Co.	Add 35.81%	833	0.00
☰	FCN - FTI Consulting, Inc.	Add 11.87%	25,024	0.03
☰	CZZ - Cosan Ltd.	Add 11.79%	119,285	0.01
☰	LABL - Multi-Color Corporation	Add 8.25%	7,229	0.01
☰	VLY - Valley National Bancorp	Add 7.94%	53,458	0.02
☰	NSIT - Insight Enterprises, Inc.	Add 5.12%	14,513	0.01
☰	VC - Visteon Corp.	Add 2.06%	2,495	0.01
☰	SBSI - Southside Bancshares, Inc.	Add 1.78%	3,537	0.00
☰	BXLT - Baxalta Inc.	Buy	522,437	0.68
☰	KEX - Kirby Corp.	Buy	184,154	0.32
☰	BMCH - Bmc Stock Holdings	Buy	209,240	0.12
☰	MYRG - MYR Group Inc.	Buy	116,260	0.08
☰	HEROQ - Hercules Offshore	Buy	812,533	0.06
	Q3 2015
☰	AXE - Anixter International Inc.	Add 233.26%	598,329	0.97
☰	CNH - CNH Industrial N.V.	Add 89.74%	291,842	0.05
☰	FLWS - 1-800-Flowers.com Inc.	Add 88.52%	306,676	0.08
☰	BKD - Brookdale Senior Living Inc.	Add 69.41%	2,404,007	1.54
☰	LABL - Multi-Color Corporation	Add 57.26%	31,901	0.07
☰	WFC - Wells Fargo & Co.	Add 45.97%	13,900	0.02
☰	CIR - Circor International Inc.	Add 33.66%	29,296	0.03
☰	ARCO - Arcos Dorados Holdings Inc.	Add 26.22%	362,261	0.03
☰	UCP - UCP Inc. - Class A	Add 25.93%	70,000	0.01
☰	PNC.WS - PNC Financial Services Group 2018 Warrants	Add 25.48%	505,200	0.34
☰	PNC - The PNC Financial Services Group, Inc.	Add 20.88%	124,779	0.31
☰	CUB - Cubic, Corp.	Add 15.62%	21,309	0.03
☰	VNO - Vornado Realty Trust	Add 15.38%	217,094	0.45
☰	ANIP - ANI Pharmaceuticals, Inc.	Add 15.30%	7,926	0.01
☰	ICFI - ICF International, Inc.	Add 15.12%	25,605	0.02
☰	MAC - The Macerich Co.	Add 13.82%	237,200	0.51
☰	FR - First Industrial Realty Trust, Inc.	Add 13.80%	912,700	0.54
☰	BAM.A - Brookfield Asset Mgmt. CL A	Add 10.75%	445,461	0.39
☰	SMP - Standard Motor Products, Inc.	Add 9.82%	20,233	0.02
☰	SEMG - SemGroup Corporation - CL A	Add 7.49%	7,252	0.01
☰	FCYA - Forest City Enterprises Inc. CL A	Add 7.10%	537,137	0.30
☰	WY - Weyerhaeuser Co.	Add 6.65%	735,671	0.56
☰	RYN - Rayonier Inc.	Add 6.61%	342,900	0.21
☰	DORM - Dorman Products, Inc.	Add 5.43%	8,040	0.01
☰	WCIC - WCI Communities Inc.	Add 2.93%	14,386	0.01
☰	HYB - New America High Income Fund, Inc	Add 2.32%	13,486	0.00
☰	HYI - Western Asset High Yield Defined Opportunity Fund	Add 2.23%	12,272	0.00
☰	EQC - Equity Commonwealth	Add 1.71%	62,400	0.05
☰	CST - CST Brands, Inc	Add 1.56%	2,725	0.00
☰	PPS - Post Properties Inc.	Add 1.44%	19,000	0.03
☰	ZION - Zions Bancorporation, National Association	Add 1.43%	41,400	0.03
☰	HOUS - Realogy Holdings Corp.	Add 1.39%	23,200	0.02
☰	FSD - First Trust High Income Long/Short Fund	Add 1.37%	11,351	0.00
☰	LOW - Lowe's Companies, Inc.	Add 1.35%	17,200	0.03
☰	H - Hyatt Hotels Corp.	Add 1.28%	6,100	0.01
☰	SKT - Tanger Inc.	Add 1.20%	27,100	0.02
☰	CVA - Covanta Holding Corporation	Add 0.59%	25,106	0.01
☰	VCA - VCA Antech Inc.	Add 0.04%	54	0.00
☰	KALU - Kaiser Aluminum Corp.	Add 0.03%	27	0.00
☰	LXU - LSB Industries, Inc.	Add 0.03%	61	0.00
☰	PRSU - Viad Corp.	Add 0.03%	73	0.00
☰	CBSH - Commerce Bancshares, Inc	Add 0.02%	66	0.00
☰	G - Genpact Ltd.	Add 0.02%	80	0.00
☰	KW-OLD - Kennedy-Wilson Holdings, Inc.	Buy	748,000	0.46
☰	VC - Visteon Corp.	Buy	121,038	0.34
☰	SBSI - Southside Bancshares, Inc.	Buy	198,830	0.15
☰	25X - SPX Flow Inc.	Buy	135,078	0.13
☰	DST - DST Systems	Buy	89,082	0.13
☰	NBL - Noble Energy Inc.	Buy	122,223	0.10
☰	CZZ - Cosan Ltd.	Buy	1,011,834	0.08
☰	IUSV - iShares Core S&P U.S. Value ETF	Buy	49,395	0.06
☰	SPY - State Street SPDR S&P 500 ETF Trust	Buy	10,425	0.06
☰	CTT - Catchmark Timber Trust Inc.	Buy	158,900	0.05
☰	SPXC* - SPX Corporation	Buy	83,019	0.03
☰	WMIH - WMI Holdings Corp,	Buy	296,406	0.02
	Q2 2015
☰	MAC - The Macerich Co.	Add 172.84%	1,087,200	2.11
☰	AXE - Anixter International Inc.	Add 167.93%	160,767	0.27
☰	CIR - Circor International Inc.	Add 101.93%	43,933	0.06
☰	RYN - Rayonier Inc.	Add 52.88%	1,793,900	1.19
☰	BAM.A - Brookfield Asset Mgmt. CL A	Add 44.96%	1,284,918	1.17
☰	VNO - Vornado Realty Trust	Add 43.14%	425,528	0.85
☰	DORM - Dorman Products, Inc.	Add 20.97%	25,681	0.03
☰	FR - First Industrial Realty Trust, Inc.	Add 20.87%	1,142,400	0.56
☰	UCP - UCP Inc. - Class A	Add 20.64%	46,200	0.01
☰	FCYA - Forest City Enterprises Inc. CL A	Add 13.52%	900,789	0.52
☰	POWL - Powell Industries, Inc.	Add 10.91%	6,300	0.00
☰	WY - Weyerhaeuser Co.	Add 8.90%	904,437	0.74
☰	CST - CST Brands, Inc	Add 8.28%	13,364	0.01
☰	WFC - Wells Fargo & Co.	Add 8.23%	2,300	0.00
☰	PNC - The PNC Financial Services Group, Inc.	Add 6.86%	38,351	0.10
☰	WKC - World Kinect Corp.	Add 6.40%	12,257	0.02
☰	BKD - Brookdale Senior Living Inc.	Add 5.31%	174,736	0.16
☰	GM - General Motors Co.	Add 3.68%	68,539	0.06
☰	ARDC - Ares Dynamic Credit Allocation Fund, Inc.	Add 2.17%	6,535	0.00
☰	HYB - New America High Income Fund, Inc	Add 2.13%	12,148	0.00
☰	HYI - Western Asset High Yield Defined Opportunity Fund	Add 2.03%	10,964	0.00
☰	FSD - First Trust High Income Long/Short Fund	Add 1.98%	16,115	0.01
☰	HYT - BlackRock Corporate High Yield Fund VI	Add 1.94%	37,903	0.01
☰	BTZ - BlackRock Credit Allocation Income Trust	Add 1.88%	15,469	0.01
☰	HOUS - Realogy Holdings Corp.	Add 0.43%	7,100	0.01
☰	LOW - Lowe's Companies, Inc.	Add 0.43%	5,400	0.01
☰	PPS - Post Properties Inc.	Add 0.43%	5,700	0.01
☰	SKT - Tanger Inc.	Add 0.40%	9,000	0.01
☰	EQC - Equity Commonwealth	Add 0.37%	13,400	0.01
☰	ZION - Zions Bancorporation, National Association	Add 0.14%	4,100	0.00
☰	H - Hyatt Hotels Corp.	Add 0.06%	300	0.00
☰	MAS - Masco Corp.	Buy	1,955,858	1.19
☰	EPEGQ - EP Energy Corp.	Buy	328,445	0.11
☰	FLWS - 1-800-Flowers.com Inc.	Buy	346,433	0.09
☰	ANIP - ANI Pharmaceuticals, Inc.	Buy	51,790	0.08
☰	CNH - CNH Industrial N.V.	Buy	325,215	0.08
☰	FPO - First Potomac Realty Trust	Buy	145,000	0.04
☰	AMD - Advanced Micro Devices, Inc.	Buy	250,000	0.02
	Q1 2015
☰	PNC - The PNC Financial Services Group, Inc.	Add 3808.24%	544,959	1.34
☰	DST - DST Systems	Add 203.33%	12,200	0.02
☰	PRSU - Viad Corp.	Add 191.24%	187,968	0.14
☰	POWL - Powell Industries, Inc.	Add 80.75%	25,800	0.01
☰	WFC - Wells Fargo & Co.	Add 67.28%	11,236	0.02
☰	VLY - Valley National Bancorp	Add 42.18%	199,630	0.05
☰	RYN - Rayonier Inc.	Add 34.45%	869,212	0.62
☰	UCP - UCP Inc. - Class A	Add 28.77%	50,000	0.01
☰	IM - Ingram Micro Inc.	Add 19.46%	39,517	0.03
☰	ALG - Alamo Group Inc.	Add 18.82%	27,543	0.05
☰	CFR - Cullen/Frost Bankers, Inc.	Add 16.60%	17,694	0.03
☰	CMA - Comerica Inc.	Add 15.43%	420,530	0.50
☰	WCIC - WCI Communities Inc.	Add 13.44%	58,179	0.04
☰	VMI - Valmont Industries, Inc.	Add 12.14%	22,099	0.07
☰	ABM - ABM Industries Inc.	Add 11.13%	24,085	0.02
☰	L - Loews Corp.	Add 10.22%	118,046	0.13
☰	SKT - Tanger Inc.	Add 10.12%	206,838	0.19
☰	CBSH - Commerce Bancshares, Inc	Add 9.86%	23,966	0.02
☰	NSIT - Insight Enterprises, Inc.	Add 9.30%	24,135	0.02
☰	WY - Weyerhaeuser Co.	Add 9.28%	863,517	0.76
☰	NLOK - Symantec Corp	Add 9.15%	248,129	0.15
☰	APA - APA Corp.	Add 9.03%	137,729	0.22
☰	CST - CST Brands, Inc	Add 9.02%	13,365	0.02
☰	WLK - Westlake Corp.	Add 8.89%	400	0.00
☰	TTEN - Total Fina ELF S A ADR	Add 8.52%	358	0.00
☰	PPS - Post Properties Inc.	Add 6.95%	85,527	0.13
☰	PKX - Posco ADR	Add 6.74%	120,120	0.17
☰	CVA - Covanta Holding Corporation	Add 5.41%	220,762	0.13
☰	FCYA - Forest City Enterprises Inc. CL A	Add 4.44%	283,454	0.19
☰	BKD - Brookdale Senior Living Inc.	Add 3.89%	123,173	0.12
☰	AGCO - AGCO Corp.	Add 3.45%	63,911	0.08
☰	UMBF - UMB Financial Corp.	Add 3.01%	4,671	0.01
☰	FSD - First Trust High Income Long/Short Fund	Add 1.98%	15,805	0.01
☰	ARDC - Ares Dynamic Credit Allocation Fund, Inc.	Add 1.43%	4,260	0.00
☰	HYI - Western Asset High Yield Defined Opportunity Fund	Add 1.39%	7,414	0.00
☰	EQC - Equity Commonwealth	Add 1.01%	36,405	0.03
☰	FR - First Industrial Realty Trust, Inc.	Add 0.90%	48,624	0.03
☰	ZION - Zions Bancorporation, National Association	Add 0.87%	25,037	0.02
☰	LOW - Lowe's Companies, Inc.	Add 0.74%	9,351	0.02
☰	HYB - New America High Income Fund, Inc	Add 0.70%	3,971	0.00
☰	HOUS - Realogy Holdings Corp.	Add 0.69%	11,398	0.01
☰	H - Hyatt Hotels Corp.	Add 0.50%	2,368	0.00
☰	PNC.WS - PNC Financial Services Group 2018 Warrants	Add 0.11%	2,100	0.00
☰	ALCO - Alico, Inc.	Add 0.05%	75	0.00
☰	PB - Prosperity Bancshares, Inc.	Add 0.05%	89	0.00
☰	SXC - Suncoke Energy Inc.	Add 0.05%	225	0.00
☰	EME - EMCOR Group, Inc.	Add 0.04%	87	0.00
☰	AXE - Anixter International Inc.	Add 0.03%	28	0.00
☰	FCN - FTI Consulting, Inc.	Add 0.03%	92	0.00
☰	KALU - Kaiser Aluminum Corp.	Add 0.03%	35	0.00
☰	SEMG - SemGroup Corporation - CL A	Add 0.03%	25	0.00
☰	WFC.WS - Wells Fargo & Co. 2018 Warrants	Add 0.03%	400	0.00
☰	ENS - EnerSys	Add 0.02%	25	0.00
☰	SMP - Standard Motor Products, Inc.	Add 0.02%	35	0.00
☰	TTEK - Tetra Tech, Inc.	Add 0.02%	440	0.00
☰	B - Barrick Mining Corp.	Add 0.01%	37	0.00
☰	MAC - The Macerich Co.	Buy	629,026	1.40
☰	DORM - Dorman Products, Inc.	Buy	122,452	0.16
☰	R91 - Rosetta Resources Inc.	Buy	294,698	0.13
☰	ASNAEUR - Ascena Retail Group, Inc.	Buy	279,212	0.11
☰	CIR - Circor International Inc.	Buy	43,100	0.06
☰	PPBI - Pacific Premier Bancorp	Buy	55,209	0.02
☰	1367506D - Forest City Enterprises Inc. CL B	Buy	2,452	0.00
☰	HTS - Hatteras Financial Corp.	Buy	5,630	0.00
☰	VOD - Vodafone Group Public Ltd. Co.	Buy	3,372	0.00
☰	VZ - Verizon Communications Inc.	Buy	1,395	0.00
	Q4 2014
☰	GM - General Motors Co.	Add 1632.46%	1,876,791	1.75
☰	WCIC - WCI Communities Inc.	Add 658.06%	375,768	0.20
☰	RYN - Rayonier Inc.	Add 355.53%	1,969,199	1.48
☰	NAVI - Navient Corp.	Add 255.50%	51,100	0.03
☰	WFC - Wells Fargo & Co.	Add 255.42%	12,002	0.01
☰	BTZ - BlackRock Credit Allocation Income Trust	Add 242.61%	638,888	0.22
☰	PNC - The PNC Financial Services Group, Inc.	Add 235.05%	10,039	0.02
☰	HYT - BlackRock Corp Hi Yld Fd VI	Add 173.15%	1,344,924	0.41
☰	CCS - Century Communities, Inc.	Add 59.85%	49,600	0.02
☰	AIG - American International Group, Inc.	Add 41.00%	8,200	0.01
☰	TGT - Target Corp.	Add 34.47%	193,197	0.39
☰	ZION - Zions Bancorporation, National Association	Add 31.05%	678,518	0.52
☰	UCP - UCP Inc.	Add 30.34%	40,458	0.01
☰	WFC.WS - Wells Fargo & Co.	Add 26.24%	246,673	0.14
☰	BKD - Brookdale Senior Living Inc.	Add 23.85%	609,580	0.60
☰	FSD - First Trust Hi Inc Long/Sht Fd	Add 22.20%	144,963	0.06
☰	APA - APA Corp.	Add 17.92%	231,865	0.39
☰	PNC.WS - PNC Fin'l Serv. Gp	Add 11.75%	208,204	0.14
☰	CMA - Comerica Inc.	Add 10.63%	261,910	0.33
☰	AGCO - AGCO Corp.	Add 10.53%	176,482	0.21
☰	MHY - Western Asset Mgd Hi Inc Fd	Add 9.75%	91,097	0.01
☰	L - Loews Corp.	Add 9.16%	97,000	0.11
☰	ALLY - Ally Financial Inc.	Add 7.17%	10,000	0.01
☰	KEY - KeyCorp	Add 6.20%	421,086	0.16
☰	H - Hyatt Hotels Corp.	Add 1.99%	9,251	0.01
☰	VNO - Vornado Realty Trust	Add 1.62%	17,253	0.04
☰	FR - First Industrial Realty Trust, Inc.	Add 1.60%	85,386	0.05
☰	HOUS - Realogy Holdings Corp.	Add 1.59%	25,793	0.03
☰	EQC - Equity Commonwealth	Add 1.58%	55,880	0.04
☰	FCYA - Forest City Enter. Inc.	Add 1.55%	97,087	0.06
☰	TRC - Tejon Ranch Co.	Add 1.03%	24,406	0.02
☰	BAM.A - Brookfield Asset Mgmt.	Add 0.63%	19,172	0.03
☰	CLH - Clean Harbors, Inc.	Add 0.02%	24	0.00
☰	VMI - Valmont Industries, Inc.	Buy	181,983	0.62
☰	B - Barrick Mining Corp.	Buy	264,348	0.26
☰	PRSU - Viad Corp.	Buy	98,288	0.07
☰	IDPK - Independence Bank	Buy	76,900	0.03
☰	VOYA - Voya Financial, Inc.	Buy	20,000	0.02
☰	DST - DST Sys Inc.	Buy	6,000	0.01
☰	POWL - Powell Industries, Inc.	Buy	31,950	0.01
☰	TTEN - Total Fina ELF S A	Buy	4,201	0.01
☰	WLK - Westlake Corp.	Buy	4,500	0.01
	Q3 2014
☰	HOUS - Realogy Holdings Corp.	Add 297.20%	1,213,284	1.01
☰	HYT - BlackRock Corp Hi Yld Fd III Inc	Add 130.43%	439,648	0.12
☰	ISLE - Isle of Capri Casinos Inc.	Add 128.06%	561,500	0.10
☰	AIG - American International Group, Inc.	Add 100.00%	10,000	0.01
☰	SMP - Standard Motor Products, Inc.	Add 75.09%	276,077	0.21
☰	SKT - Tanger Inc.	Add 69.28%	1,006,273	0.74
☰	AGCO - AGCO Corp.	Add 66.49%	669,209	0.68
☰	MHY - Western Asset Mgd Hi Inc Fd	Add 39.62%	265,200	0.03
☰	BKD - Brookdale Senior Living Inc.	Add 38.52%	710,904	0.51
☰	PNC.WS - PNC Fin'l Serv. Gp	Add 38.12%	489,200	0.25
☰	GM - General Motors Co.	Add 32.96%	28,500	0.02
☰	FR - First Industrial Realty Trust, Inc.	Add 23.94%	1,031,398	0.39
☰	SCL - Stepan Co.	Add 23.12%	110,629	0.11
☰	VNO - Vornado Realty Trust	Add 18.31%	164,895	0.27
☰	FSTR - Foster (LB) Co.	Add 14.57%	8,500	0.01
☰	HYI - Western Asset Hi Yld Def Opp Fd	Add 12.27%	62,696	0.02
☰	PDCO - Patterson Co. Inc	Add 9.87%	59,556	0.06
☰	CUB - Cubic, Corp.	Add 9.60%	44,603	0.05
☰	OSK - Oshkosh Corp.	Add 9.27%	23,520	0.02
☰	FSD - First Trust Hi Inc Long/Sht Fd	Add 7.23%	44,037	0.02
☰	NLOK - Symantec Corp.	Add 4.70%	122,381	0.06
☰	UNF - UniFirst Corp.	Add 4.63%	16,717	0.04
☰	WY - Weyerhaeuser Co.	Add 3.71%	348,174	0.25
☰	HYB - New America Hi Inc Fd, Inc	Add 2.00%	12,745	0.00
☰	ARDC - Ares Dynamic Cr Allocation Fd, Inc.	Add 1.98%	6,639	0.00
☰	RYN - Rayonier Inc.	Add 1.09%	5,987	0.00
☰	ARCO - Arcos Dorados Holdings Inc.	Add 0.84%	14,397	0.00
☰	WFC.WS - Wells Fargo & Co.	Add 0.18%	1,700	0.00
☰	H - Hyatt Hotels Corp.	Add 0.02%	100	0.00
☰	EQC - Equity Commonwealth	Buy	3,540,070	2.04
☰	ZION - Zions Bancorporation, National Association	Buy	2,185,403	1.42
☰	L - Loews Corp.	Buy	1,058,399	0.99
☰	TGT - Target Corp.	Buy	560,468	0.79
☰	RRX - Regal Rexnord Corp.	Buy	407,190	0.59
☰	AXE - Anixter International Inc.	Buy	186,395	0.35
☰	CLH - Clean Harbors, Inc.	Buy	114,083	0.14
☰	HOY - Pinnacle Entertainment Inc.	Buy	255,200	0.14
☰	DHG - Deutsche Hi Inc Opp Fd	Buy	393,556	0.13
☰	UCP - UCP Inc.	Buy	133,342	0.04
☰	CCS - Century Communities, Inc.	Buy	82,874	0.03
☰	FUR - Winthrop Realty Trust	Buy	60,000	0.02
☰	WCIC - WCI Communities Inc.	Buy	57,102	0.02
☰	NAVI - Navient Corp.	Buy	20,000	0.01
☰	PNC - The PNC Financial Services Group, Inc.	Buy	4,271	0.01
☰	WFC - Wells Fargo & Co.	Buy	4,699	0.01
	Q2 2014
☰	EPAC - Actuant Corp.	Add 69.82%	303,852	0.21
☰	PB - Prosperity Bancshares, Inc.	Add 63.67%	207,179	0.26
☰	SBSAA - Spanish Broadcasting Sys., Inc	Add 57.55%	249,000	0.03
☰	WY - Weyerhaeuser Co.	Add 43.38%	2,836,186	1.93
☰	SYNT - Syntel, Inc.	Add 42.99%	273,710	0.24
☰	TG - Tredegar Corp.	Add 23.47%	137,162	0.07
☰	IM - Ingram Micro Inc.	Add 22.95%	118,708	0.07
☰	NLOK - Symantec Corp	Add 21.37%	458,389	0.21
☰	EXLS - ExlService Holdings Inc.	Add 20.55%	469,020	0.06
☰	CBSH - Commerce Bancshares, Inc	Add 19.75%	128,859	0.09
☰	MDRX - Allscripts Healthcare Sol., Inc.	Add 18.56%	317,075	0.10
☰	CUB - Cubic, Corp.	Add 12.52%	51,727	0.05
☰	CKH - Seacor Holdings Inc.	Add 10.99%	45,574	0.08
☰	CSGS-OLD - CSG Systems International, Inc.	Add 9.96%	102,454	0.06
☰	ICFI - ICF International, Inc.	Add 7.20%	41,946	0.03
☰	WKC - World Kinect Corp.	Add 6.46%	50,079	0.05
☰	CMA - Comerica Inc.	Add 6.07%	146,307	0.15
☰	DAR - Darling Ingredients Inc.	Add 3.31%	44,174	0.02
☰	FHY - First Trust Strategic Hi IncFd II	Add 2.25%	4,141	0.00
☰	PHH - PHH Corporation	Add 2.11%	20,178	0.01
☰	HYI - Western Asset Hi Yld Def Opp Fd	Add 2.02%	10,124	0.00
☰	HYB - New America Hi Inc Fd, Inc	Add 1.98%	12,363	0.00
☰	ARDC - Ares Dynamic Cr Allocation Fd, Inc.	Add 1.93%	6,354	0.00
☰	FSD - First Trust Hi Inc Long/Sht Fd	Add 1.85%	11,040	0.00
☰	BTZ - BlackRock Credit Allocation Income Trust	Add 1.78%	18,323	0.01
☰	HYT - BlackRock Corp Hi Yld Fd III Inc	Add 1.32%	4,385	0.00
☰	ERG1 - ERA Group Inc.	Add 1.04%	5,340	0.00
☰	LOW - Lowe's Companies, Inc.	Add 0.25%	4,589	0.00
☰	FR - First Industrial Realty Trust, Inc.	Add 0.21%	8,999	0.00
☰	VNO - Vornado Realty Trust	Add 0.21%	1,896	0.00
☰	H - Hyatt Hotels Corp.	Add 0.19%	899	0.00
☰	WTM - White Mountains Insurance Group, Ltd.	Add 0.04%	73	0.00
☰	AGCO - AGCO Corp.	Buy	1,006,478	1.16
☰	PDCO - Patterson Companies Inc	Buy	603,465	0.49
☰	CTB - Cooper Tire & Rubber Co.	Buy	660,100	0.41
☰	ARCO - Arcos Dorados Holdings Inc.	Buy	1,706,142	0.39
☰	SMP - Standard Motor Products, Inc.	Buy	367,674	0.34
☰	HOUS - Realogy Holdings Corp.	Buy	408,234	0.32
☰	XJQCX - Nuveen Credit Strategies Inc Fd	Buy	979,439	0.19
☰	ALLY - Ally Financial Inc.	Buy	139,500	0.07
☰	FSTR - Foster (LB) Company	Buy	58,326	0.06
☰	AIG - American International Group, Inc.	Buy	10,000	0.01
☰	ISLE - Isle of Capri Casinos Inc.	Buy	438,455	0.00
	Q1 2014
☰	RYN - Rayonier Inc.	Add 1227.33%	669,852	0.47
☰	TG - Tredegar Corp.	Add 487.45%	484,885	0.23
☰	TECK - Teck Resources Ltd.	Add 433.19%	292,693	0.13
☰	HYI - Western Asset Hi Yld Def Opp Fd	Add 131.49%	284,483	0.10
☰	FCN - FTI Consulting, Inc.	Add 99.27%	482,795	0.33
☰	HYB - New America Hi Inc Fd, Inc	Add 52.60%	215,618	0.04
☰	NHS - Neuberger Berman Hi Yld Strat. Fd	Add 40.95%	146,600	0.04
☰	APA - APA Corp.	Add 35.37%	386,233	0.66
☰	WKC - World Kinect Corp.	Add 29.67%	177,415	0.16
☰	ANVGQ - Allied Nevada Gold	Add 29.11%	442,268	0.04
☰	ECA - Encana Corp.	Add 26.44%	967,892	0.42
☰	UMBF - UMB Financial Corp.	Add 26.08%	104,211	0.14
☰	ERG1 - ERA Group Inc.	Add 19.07%	82,400	0.05
☰	PPS - Post Properties Inc.	Add 17.01%	247,494	0.25
☰	SXC - Suncoke Energy Inc.	Add 16.55%	203,285	0.10
☰	SBSAA - Spanish Broadcasting Sys., Inc	Add 13.05%	49,951	0.01
☰	MDRX - Allscripts Healthcare Sol., Inc.	Add 11.28%	173,253	0.06
☰	NLOK - Symantec Corp	Add 9.07%	178,482	0.07
☰	CSGS-OLD - CSG Systems International, Inc.	Add 7.88%	75,084	0.04
☰	DAR - Darling Ingredients Inc.	Add 7.03%	87,621	0.04
☰	BCOR - Blucora, Inc.	Add 6.99%	50,616	0.02
☰	Y - Alleghany Corp.	Add 6.44%	13,630	0.11
☰	CBSH - Commerce Bancshares, Inc.	Add 6.10%	37,506	0.03
☰	AXLL - Axiall Corporation	Add 4.90%	58,295	0.05
☰	MTX - Minerals Technologies Inc.	Add 4.54%	28,251	0.04
☰	FHY - First Trust Strategic Hi IncFd II	Add 3.83%	6,791	0.00
☰	CUB - Cubic, Corp.	Add 3.77%	15,000	0.02
☰	XEADX - Wells Fargo Adv Inc Opp Fd	Add 3.73%	8,724	0.00
☰	FSD - First Trust Hi Inc Long/Sht Fd	Add 3.18%	18,439	0.01
☰	RSTI - Rofin-Sinar Tech. Inc.	Add 2.79%	47,391	0.02
☰	BTZ - BlackRock Credit Allocation Income Trust	Add 2.49%	25,057	0.01
☰	MANT - Mantech International Corp.	Add 2.38%	20,067	0.01
☰	LM - Legg Mason Inc.	Add 2.21%	18,900	0.02
☰	EXL - Excel Trust, Inc.	Add 2.17%	22,585	0.01
☰	ARDC - Ares Dynamic Cr Allocation Fd, Inc.	Add 1.90%	6,128	0.00
☰	PKX - Posco	Add 1.25%	31,766	0.05
☰	VLY - Valley National Bancorp	Add 0.35%	4,788	0.00
☰	INTC - Intel Corp.	Add 0.12%	4,000	0.00
☰	G - Genpact Ltd.	Buy	2,149,998	0.77
☰	LABL - Multi-Color Corp.	Buy	826,659	0.59
☰	PHH - PHH Corp.	Buy	954,725	0.51
☰	PB - Prosperity Bancshares, Inc.	Buy	325,374	0.44
☰	EPAC - Actuant Corp.	Buy	435,210	0.31
☰	EXLS - ExlService Holdings Inc.	Buy	2,282,395	0.29
☰	VZ - Verizon Communications Inc.	Buy	165,189	0.16
☰	DNN - Denison Mines Corp.	Buy	1,245,100	0.04
☰	9TP - Texas Pacific Land Trust	Buy	8,936	0.02
☰	VOD - Vodafone Group Public Ltd. Co.	Buy	6,133	0.00
	Q4 2013
☰	HYI - Western Asset Hi Yld Def Opp Fd	Add 647.52%	187,405	0.06
☰	FSD - First Trust Hi Inc Long/Sht Fd	Add 248.88%	413,430	0.14
☰	ANVGQ - Allied Nevada Gold	Add 167.41%	951,250	0.06
☰	BTZ - BlackRock Credit Allocation Income Trust	Add 124.87%	558,723	0.14
☰	DAR - Darling Ingredients Inc.	Add 121.78%	684,860	0.28
☰	PPS - Post Properties Inc.	Add 109.23%	759,385	0.67
☰	SIR - Select Income	Add 100.00%	10,000	0.01
☰	GM - General Motors Co.	Add 82.33%	100,000	0.08
☰	NHS - Neuberger Berman Hi Yld Strat. Fd	Add 56.24%	128,881	0.03
☰	WLTGQ - Walter Energy, Inc.	Add 56.05%	44,900	0.01
☰	BIGGQ - Big Lots, Inc.	Add 27.61%	123,412	0.08
☰	FCN - FTI Consulting, Inc.	Add 27.41%	104,642	0.08
☰	NSIT - Insight Enterprises, Inc.	Add 23.31%	240,615	0.11
☰	HYB - New America Hi Inc Fd, Inc	Add 23.07%	76,837	0.01
☰	FHY - First Trust Strategic Hi IncFd II	Add 17.54%	26,448	0.01
☰	SNY - Sanofi	Add 16.45%	2,275	0.00
☰	CUB - Cubic, Corp.	Add 16.21%	55,506	0.06
☰	SUSS - Susser Holdings Corp.	Add 16.01%	74,257	0.10
☰	SCL - Stepan Co.	Add 15.71%	83,791	0.11
☰	BKD - Brookdale Senior Living Inc.	Add 15.48%	254,820	0.14
☰	EME - EMCOR Group, Inc.	Add 12.71%	154,505	0.13
☰	ECA - Encana Corp.	Add 11.55%	379,214	0.13
☰	MDRX - Allscripts Healthcare Sol., Inc.	Add 11.25%	155,221	0.05
☰	TTEK - Tetra Tech, Inc.	Add 10.95%	701,055	0.08
☰	EXL - Excel Trust, Inc.	Add 10.36%	97,600	0.02
☰	ERG1 - ERA Group Inc.	Add 10.13%	39,760	0.02
☰	CIF - MFS Intermediate Hi Inc Fd	Add 9.22%	44,334	0.00
☰	NVDA - NVIDIA Corp.	Add 8.77%	11,443,160	0.09
☰	NEM - Newmont Corp.	Add 8.40%	73,441	0.03
☰	RSTI - Rofin-Sinar Tech. Inc.	Add 7.42%	117,458	0.06
☰	SKT - Tanger Inc.	Add 6.19%	86,299	0.05
☰	CBSH - Commerce Bancshares, Inc	Add 5.31%	31,006	0.02
☰	HCZ - HCC Insurance Holdings	Add 5.22%	61,303	0.06
☰	CFR - Cullen/Frost Bankers, Inc.	Add 4.90%	10,758	0.02
☰	UMBF - UMB Financial Corp.	Add 4.67%	17,849	0.02
☰	KGC - Kinross Gold Corp.	Add 3.90%	256,156	0.02
☰	NLOK - Symantec Corp.	Add 2.85%	54,475	0.02
☰	BRSWQ - Bristow Group Inc.	Add 2.69%	8,235	0.01
☰	WTM - White Mountains Insurance Group, Ltd.	Add 1.47%	3,994	0.05
☰	CMA - Comerica Inc.	Add 0.77%	18,421	0.02
☰	EFII - Electronics for Imaging Inc.	Add 0.62%	8,093	0.01
☰	XEADX - Wells Fargo Adv Inc Opp Fd	Add 0.52%	1,208	0.00
☰	PDS - Precision Drilling Corp.	Add 0.01%	13	0.00
☰	TRCHW - Tejon Ranch Co.	Add 0.00%	6	0.00
☰	WY7 - Parkway Prop., Inc.	Buy	2,914,821	1.09
☰	LM - Legg Mason Inc.	Buy	855,488	0.72
☰	CSGS-OLD - CSG Systems International, Inc.	Buy	953,215	0.55
☰	SXC - Suncoke Energy Inc.	Buy	1,228,631	0.55
☰	WKC - World Kinect Corp.	Buy	597,994	0.50
☰	IDCC - InterDigital, Inc.	Buy	781,611	0.45
☰	VCA - VCA Antech Inc.	Buy	636,712	0.39
☰	AMH - American Homes 4 Rent	Buy	880,720	0.28
☰	MYGN - Myriad Genetics	Buy	328,314	0.13
☰	ARDC - Ares Dynamic Cr Allocation Fd, Inc.	Buy	322,875	0.11
☰	ABX - Barrick Gold Corp.	Buy	249,447	0.09
☰	HYT - BlackRock Corp Hi Yld Fd III Inc	Buy	332,703	0.08
☰	PCI - PIMCO Dynamic Credit Inc. Fd	Buy	179,209	0.08
☰	TG - Tredegar Corp.	Buy	99,474	0.06
☰	KWKAQ - Quicksilver Resources, Inc	Buy	650,000	0.04
☰	ARPI - American Res. Prop., Inc.	Buy	100,000	0.03
☰	RYN - Rayonier Inc.	Buy	54,578	0.03
☰	TECK - Teck Resources Ltd.	Buy	67,567	0.03
☰	CTB - Cooper Tire & Rubber Co.	Buy	40,000	0.02
	Q3 2013
☰	CVCO - Cavco Industries, Inc.	Add 1282.09%	1,867,370	2.18
☰	SUSS - Susser Holdings Corp.	Add 275.72%	340,444	0.37
☰	IAG - IAMGOLD Corp.	Add 205.71%	669,745	0.07
☰	UMBF - UMB Financial Corp.	Add 192.82%	251,414	0.28
☰	BKD - Brookdale Senior Living Inc.	Add 149.84%	987,272	0.53
☰	ELD - Eldorado Gold Corporation	Add 139.94%	175,900	0.02
☰	AUY - Yamana Gold Inc.	Add 126.12%	183,000	0.04
☰	AXLL - Axiall Corporation	Add 75.79%	514,417	0.40
☰	PPS - Post Properties Inc.	Add 64.46%	272,502	0.25
☰	BIGGQ - Big Lots, Inc.	Add 39.21%	125,910	0.10
☰	TTEK - Tetra Tech, Inc.	Add 38.14%	1,768,315	0.19
☰	MDRX - Allscripts Healthcare Sol., Inc.	Add 22.02%	249,107	0.08
☰	CST - CST Brands, Inc	Add 18.49%	77,252	0.05
☰	EME - EMCOR Group, Inc.	Add 15.00%	158,580	0.13
☰	TFX - Teleflex Inc.	Add 14.72%	71,565	0.12
☰	SCL - Stepan Co.	Add 13.05%	61,545	0.07
☰	AEO - American Eagle Outfitters, Inc.	Add 12.11%	66,765	0.02
☰	VTGDF - Vantage Drilling Co.	Add 12.00%	150,000	0.01
☰	RSTI - Rofin-Sinar Tech. Inc.	Add 11.28%	160,491	0.08
☰	CMP - Compass Minerals International, Inc.	Add 11.16%	55,128	0.09
☰	CALM - Cal-Maine Foods, Inc.	Add 8.79%	96,606	0.05
☰	KALU - Kaiser Aluminum Corp.	Add 8.06%	35,000	0.05
☰	ECA - Encana Corp.	Add 6.80%	209,095	0.07
☰	KGC - Kinross Gold Corp.	Add 6.57%	405,044	0.04
☰	ALCO - Alico, Inc.	Add 6.29%	20,346	0.02
☰	JOSB - Jos A Bank Clothiers Inc.	Add 5.86%	15,000	0.01
☰	WY - Weyerhaeuser Co.	Add 5.51%	429,903	0.25
☰	ENS - EnerSys	Add 5.38%	52,785	0.07
☰	SNY - Sanofi	Add 4.85%	640	0.00
☰	PRGS - Progress Software Corp.	Add 4.41%	75,800	0.04
☰	BCOR - Blucora, Inc.	Add 2.85%	20,150	0.01
☰	SYNT - Syntel, Inc.	Add 2.43%	15,170	0.01
☰	NLOK - Symantec Corp.	Add 2.14%	40,000	0.02
☰	APA - APA Corp.	Add 1.61%	17,649	0.03
☰	ABM - ABM Industries Inc.	Add 1.48%	15,175	0.01
☰	WTM - White Mountains Insurance Group, Ltd.	Add 1.33%	3,551	0.04
☰	SXT - Sensient Technologies Corp.	Add 1.16%	10,000	0.01
☰	HCZ - HCC Insurance Holdings	Add 0.45%	5,250	0.00
☰	PDS - Precision Drilling Corp.	Add 0.19%	270	0.00
☰	CKH - Seacor Holdings Inc.	Add 0.09%	550	0.00
☰	TPGI - Thomas Properties Gp Inc.	Add 0.05%	3,700	0.00
☰	VNO - Vornado Realty Trust	Add 0.04%	342	0.00
☰	CUB - Cubic, Corp.	Add 0.03%	100	0.00
☰	LXU - LSB Industries, Inc.	Add 0.02%	260	0.00
☰	Y - Alleghany Corp.	Buy	242,104	2.03
☰	SKT - Tanger Inc.	Buy	1,394,811	0.93
☰	NSIT - Insight Enterprises, Inc.	Buy	1,032,290	0.40
☰	FCN - FTI Consulting, Inc.	Buy	381,698	0.30
☰	BTZ - BlackRock Credit Allocation Income Trust	Buy	447,448	0.12
☰	MHY - Western Asset Mgd Hi Inc Fd	Buy	669,372	0.08
☰	FSD - First Trust Hi Inc Long/Short Fd	Buy	166,114	0.06
☰	HYB - New America High Inc Fd, Inc	Buy	333,065	0.06
☰	NHS - Neuberger Berman Hi Yld Strat. Fd	Buy	229,145	0.06
☰	ANVGQ - Allied Nevada Gold	Buy	568,205	0.05
☰	CYE - BlackRock Corp Hi Yld Fd III Inc	Buy	314,366	0.05
☰	FHY - First Trust Strategic Hi IncFd II	Buy	150,793	0.05
☰	XEADX - Wells Fargo Adv Inc Opp Fd	Buy	232,918	0.04
☰	CIF - MFS Intermediate Hi Inc Fd	Buy	480,650	0.03
☰	XHISX - BlackRock High Income Shares	Buy	799,788	0.03
☰	HIO - Western Asset Hi Inc Opp Fd	Buy	179,449	0.02
☰	TRCHW - Tejon Ranch Co.	Buy	372,073	0.02
☰	WLTGQ - Walter Energy, Inc.	Buy	80,100	0.02
☰	BPY - Brookfield Property Part. L.P	Buy	26,692	0.01
☰	EFF - Eaton Vance Fltg-Rate Inc Plus Fd	Buy	30,551	0.01
☰	HYI - Western Asset Hi Yld Def Opp Fd	Buy	28,942	0.01
☰	CFFN - Capitol Federal Fincl, Inc.	Buy	14,075	0.00
	Q2 2013
☰	CMA.WS - Comerica Inc.	Add 462.77%	106,900	0.03
☰	APA - APA Corp.	Add 161.82%	676,227	1.20
☰	ELD - Eldorado Gold Corp.	Add 71.02%	52,200	0.01
☰	CBSH - Commerce Bancshares, Inc	Add 64.85%	305,430	0.19
☰	CASS - Cass Information Sys., Inc.	Add 60.35%	123,488	0.09
☰	AKS - AK Steel Corporation	Add 44.25%	218,220	0.02
☰	H - Hyatt Hotels Corp.	Add 39.07%	138,062	0.12
☰	AEO - American Eagle Outfitters, Inc.	Add 34.36%	141,000	0.05
☰	AUY - Yamana Gold Inc	Add 33.36%	36,300	0.01
☰	CKH - Seacor Holdings Inc.	Add 30.36%	136,856	0.24
☰	SBSAA - Spanish Broadcasting Sys., Inc	Add 29.92%	88,135	0.01
☰	IAG - IAMGOLD Corp.	Add 28.71%	72,630	0.01
☰	WY - Weyerhaeuser Co.	Add 26.04%	1,611,047	0.97
☰	CYN - City National Corp.	Add 20.00%	4	0.08
☰	LXU - LSB Industries, Inc.	Add 13.07%	168,353	0.08
☰	ALCO - Alico, Inc.	Add 11.97%	34,579	0.03
☰	NLY - Annaly Capital Management, Inc.	Add 9.19%	278	0.00
☰	ABM - ABM Industries Inc.	Add 8.44%	79,918	0.04
☰	KGC - Kinross Gold Corp.	Add 7.66%	438,500	0.05
☰	OSK - Oshkosh Corp.	Add 6.13%	92,150	0.07
☰	SNY - Sanofi	Add 5.65%	705	0.00
☰	ENS - EnerSys	Add 4.34%	40,826	0.04
☰	TLAB - Tellabs, Inc.	Add 3.17%	1,123,227	0.05
☰	SCL - Stepan Co.	Add 2.95%	13,500	0.02
☰	ASNAEUR - Ascena Retail Group, Inc.	Add 2.10%	24,906	0.01
☰	ORB - Orbital Sciences Corp.	Add 1.28%	9,862	0.00
☰	KELYA - Kelly Services Inc.	Add 0.18%	500	0.00
☰	WTM - White Mountains Insurance Group, Ltd.	Buy	267,273	3.24
☰	AMAT - Applied Materials, Inc.	Buy	8,858,678	2.79
☰	LOW - Lowe's Companies, Inc.	Buy	1,846,350	1.59
☰	HCZ - HCC Insurance Holdings	Buy	1,168,126	1.06
☰	HAR - Harman Int'l Indus., Inc.	Buy	759,611	0.87
☰	CLDPQ - Cloud Peak Energy Inc.	Buy	2,145,271	0.75
☰	AXLL - Axiall Corporation	Buy	678,772	0.61
☰	PDS - Precision Drilling Corp.	Buy	141,371	0.51
☰	TTEK - Tetra Tech, Inc.	Buy	4,635,990	0.46
☰	PPS - Post Properties Inc.	Buy	422,734	0.44
☰	CFR - Cullen/Frost Bankers, Inc.	Buy	292,727	0.41
☰	PNC.WS - PNC Financial Serv. Gp	Buy	1,289,241	0.41
☰	SYNT - Syntel, Inc.	Buy	623,380	0.41
☰	BKD - Brookdale Senior Living Inc.	Buy	658,866	0.37
☰	CUB - Cubic, Corp.	Buy	342,405	0.35
☰	VLY - Valley National Bancorp	Buy	1,462,501	0.29
☰	BCOR - Blucora, Inc.	Buy	706,170	0.28
☰	CST - CST Brands, Inc	Buy	417,915	0.27
☰	JOSB - Jos A Bank Clothiers Inc.	Buy	256,062	0.22
☰	BIGGQ - Big Lots, Inc.	Buy	321,143	0.21
☰	CSWC - Capital Southwest	Buy	619,361	0.17
☰	UMBF - UMB Financial Corp.	Buy	130,386	0.15
☰	SF6 - Stanley Furniture Co., Inc.	Buy	1,641,716	0.14
☰	SUSS - Susser Holdings Corp.	Buy	123,475	0.12
☰	KE6 - Kearny Financial Corp.	Buy	457,278	0.10
☰	CQB - Chiquita Brands Int'l Inc.	Buy	244,155	0.06
☰	CHKEUR - Chesapeake Energy	Buy	100,000	0.04
☰	ALX - Alexander's, Inc.	Buy	5,000	0.03
☰	TDW - Tidewater Inc.	Buy	434	0.02
☰	BPO - Brookfield Properties	Buy	37,550	0.01
☰	COF.WS - Capital One Financial	Buy	15,000	0.01
☰	CVE - Cenovus Energy Inc.	Buy	19,200	0.01
☰	SIR - Select Income REIT	Buy	10,000	0.01
	Q1 2013
☰	INTC - Intel Corp.	Add 683.81%	3,145,523	1.63
☰	NVDA - NVIDIA Corp.	Add 93.43%	63,964,360	0.49
☰	CALM - Cal-Maine Foods, Inc.	Add 87.52%	513,208	0.26
☰	KALU - Kaiser Aluminum Corp.	Add 70.31%	183,452	0.28
☰	ALCO - Alico, Inc.	Add 55.14%	102,714	0.11
☰	ELD - Eldorado Gold Corp.	Add 47.00%	23,500	0.01
☰	HY - Hyster-Yale Mat. Hand., Inc. CL A	Add 44.55%	72,159	0.10
☰	SBSAA - Spanish Broadcasting Sys., Inc CL A	Add 39.80%	83,851	0.01
☰	VTGDF - Vantage Drilling Co. ORD	Add 34.82%	340,961	0.01
☰	PLD - Prologis, Inc.	Add 32.93%	2,200	0.00
☰	ECA - Encana Corporation	Add 24.69%	636,993	0.29
☰	MANT - Mantech International Corp. CL A	Add 20.16%	321,639	0.20
☰	AVX - AVX Corporation	Add 14.29%	1	0.14
☰	ENS - EnerSys	Add 14.06%	115,928	0.13
☰	KIM - Kimco Realty Corp.	Add 14.01%	3,200	0.00
☰	NEM - Newmont Corp.	Add 13.71%	120,510	0.12
☰	LXU - LSB Industries, Inc.	Add 11.94%	137,461	0.09
☰	DVN - Devon Energy Corp.	Add 10.45%	368,286	0.49
☰	IM - Ingram Micro Inc. CL A	Add 8.46%	248,125	0.12
☰	CMP - Compass Minerals International, Inc.	Add 6.55%	40,235	0.08
☰	WY - Weyerhaeuser Co.	Add 6.38%	370,773	0.28
☰	ESIO - Electro Scientific Ind., Inc.	Add 6.26%	125,436	0.03
☰	WW - Weight Watchers Int'l	Add 5.18%	24,668	0.02
☰	PRGS - Progress Software Corp.	Add 4.67%	78,561	0.04
☰	CTO - CTO Realty Growth, Inc.	Add 4.61%	89,152	0.02
☰	FPO - First Potomac Realty Trust	Add 4.52%	16,950	0.01
☰	KGC - Kinross Gold Corp.	Add 3.66%	202,190	0.04
☰	KEY - KeyCorp	Add 3.55%	726,470	0.17
☰	ACGL - Arch Capital Group Ltd.	Add 2.41%	57,525	0.02
☰	SCL - Stepan Co.	Add 2.17%	9,751	0.01
☰	CMA - Comerica Inc.	Add 1.87%	46,894	0.04
☰	NLOK - Symantec Corp	Add 1.14%	21,795	0.01
☰	WIRE - Encore Wire Corp.	Add 1.13%	8,698	0.01
☰	ICFI - ICF International, Inc.	Add 0.82%	13,275	0.01
☰	UNF - UniFirst Corp.	Add 0.77%	4,605	0.01
☰	TLAB - Tellabs, Inc.	Add 0.61%	215,300	0.01
☰	VNO - Vornado Realty Trust	Add 0.53%	4,784	0.01
☰	SXT - Sensient Technologies Corp.	Add 0.38%	3,435	0.00
☰	SEMG - SemGroup Corp. CL A	Add 0.34%	3,419	0.00
☰	FR - First Industrial Realty Trust, Inc.	Add 0.11%	4,700	0.00
☰	LM0 - Liberty Media Corp. CL A	Buy	408,799	1.08
☰	BR - Broadridge Financial Solutions, Inc.	Buy	1,783,061	1.05
☰	APA - APA Corp.	Buy	417,885	0.76
☰	ASNAEUR - Ascena Retail Group, Inc.	Buy	1,186,833	0.52
☰	ABM - ABM Industries Inc.	Buy	946,705	0.50
☰	CYN - City National Corp.	Buy	20	0.41
☰	H - Hyatt Hotels Corp.	Buy	353,337	0.36
☰	STRZA - Starz- Liberty Capital CL A	Buy	615,764	0.32
☰	CBSH - Commerce Bancshares, Inc	Buy	470,960	0.31
☰	ORB - Orbital Sciences Corp.	Buy	771,073	0.30
☰	WFC.WS - Wells Fargo & Co. W EXP 10/28/18	Buy	945,080	0.27
☰	ERG1 - ERA Group Inc.	Buy	392,727	0.20
☰	CASS - Cass Info. Systems, Inc.	Buy	204,630	0.15
☰	CZR - Caesars Entertainment, Inc.	Buy	265,340	0.10
☰	AKS - AK Steel Corporation	Buy	493,155	0.04
☰	CMA.WS - Comerica Inc W EXP 11/14/18	Buy	23,100	0.01
	Q4 2012
☰	FPO - First Potomac Realty Trust	Add 747.44%	331,115	0.11
☰	TLAB - Tellabs, Inc.	Add 735.03%	30,961,832	1.92
☰	FCYA - Forest City Enterprises Inc. CL A	Add 722.65%	12,522,039	5.50
☰	KEY - KeyCorp	Add 592.78%	17,507,595	4.01
☰	CMA - Comerica Inc.	Add 213.99%	1,708,594	1.41
☰	DVN - Devon Energy Corp.	Add 185.35%	2,288,471	3.24
☰	RFP - Resolute Forest Prod., Inc. COM	Add 157.97%	193,195	0.07
☰	NEM - Newmont Corp.	Add 81.41%	394,462	0.50
☰	RSTI - Rofin-Sinar Tech. Inc.	Add 50.12%	686,631	0.41
☰	ACGL - Arch Capital Group Ltd.	Add 49.08%	784,434	0.31
☰	KELYA - Kelly Services Inc. CL A	Add 47.27%	130,000	0.06
☰	KGC - Kinross Gold Corp.	Add 45.65%	1,731,094	0.46
☰	EME - EMCOR Group, Inc.	Add 41.39%	337,827	0.32
☰	PRGS - Progress Software Corp.	Add 39.69%	477,702	0.27
☰	JAKK - Jakks Pacific, Inc.	Add 35.18%	38,184	0.13
☰	CMP - Compass Minerals International, Inc.	Add 34.77%	158,539	0.32
☰	KMT - Kennametal Inc.	Add 33.54%	339,575	0.37
☰	ICFI - ICF International, Inc.	Add 32.22%	393,789	0.25
☰	DAR - Darling Ingredients Inc.	Add 28.11%	204,976	0.09
☰	ESIO - Electro Scientific Ind., Inc.	Add 26.05%	413,870	0.11
☰	NLOK - Symantec Corp	Add 25.39%	385,500	0.20
☰	SCMR - Sycamore Networks, Inc. COM	Add 24.70%	768,548	0.05
☰	INTC - Intel Corp.	Add 19.48%	75,000	0.04
☰	UNF - UniFirst Corp.	Add 17.03%	87,491	0.17
☰	SXT - Sensient Technologies Corp.	Add 16.72%	129,261	0.13
☰	JJSF - J&J Snack Foods Corp.	Add 15.90%	50,196	0.09
☰	LXU - LSB Industries, Inc.	Add 15.74%	156,502	0.12
☰	OSK - Oshkosh Corp.	Add 13.70%	252,582	0.20
☰	FR - First Industrial Realty Trust, Inc.	Add 12.65%	490,135	0.19
☰	SCL - Stepan Co.	Add 11.17%	45,050	0.07
☰	WIRE - Encore Wire Corporation	Add 8.07%	57,338	0.05
☰	BNY - The Bank of New York Mellon Cor	Add 7.91%	754,353	0.53
☰	EXL - Excel Trust, Inc.	Add 4.51%	44,732	0.02
☰	NLY - Annaly Capital Management, Inc.	Add 4.34%	126	0.00
☰	MANT - Mantech International Corp. CL A	Add 3.26%	50,425	0.04
☰	CTO - CTO Realty Growth, Inc.	Add 1.49%	28,367	0.01
☰	PKE - Park Electrochemical Corp.	Add 0.08%	485	0.00
☰	XEC-OLD - Cimarex Energy Co.	Add 0.07%	100	0.00
☰	ENS - EnerSys	Buy	824,622	0.84
☰	PESXQ - Pioneer Energy Serv. Corp	Buy	3,796,318	0.75
☰	WW - Weight Watchers Int'l	Buy	476,252	0.68
☰	NVDA - NVIDIA Corp.	Buy	68,461,480	0.57
☰	CALM - Cal-Maine Foods, Inc.	Buy	586,404	0.32
☰	MDRX - Allscripts Healthcare Sol., Inc.	Buy	1,235,495	0.32
☰	HY - Hyster-Yale Mat. Handling, Inc.	Buy	161,960	0.22
☰	FNFG - First Niagara Fin. Group, Inc.	Buy	477,184	0.10
☰	IAG - IAMGOLD Corp.	Buy	252,940	0.08
☰	AUY - Yamana Gold Inc	Buy	108,800	0.05
☰	AJKA - Assisted Living Concepts Inc CL A	Buy	85,420	0.02
☰	ELD - Eldorado Gold Corporation	Buy	50,000	0.02
☰	SBSAA - Spanish Broadcasting Sys., Inc Com Class A	Buy	210,700	0.01
	Q2 2012
☰	VTGDF - Vantage Drilling Co.	Add 257.14%	900,000	0.00
☰	DVN - Devon Energy Corp.	Add 84.69%	566,160	0.00
☰	KGC - Kinross Gold Corp.	Add 30.58%	888,000	0.00
☰	JAKK - Jakks Pacific, Inc.	Add 25.15%	21,808	0.00
☰	EXL - Excel Trust, Inc.	Add 20.69%	170,105	0.00
☰	UNF - UniFirst Corp.	Add 20.04%	85,765	0.00
☰	EME - EMCOR Group, Inc.	Add 19.14%	131,101	0.00
☰	ESIO - Electro Scientific Industries, Inc.	Add 18.92%	252,798	0.00
☰	CMP - Compass Minerals International, Inc.	Add 17.64%	68,364	0.00
☰	ICFI - ICF International, Inc.	Add 15.62%	165,124	0.00
☰	SCL - Stepan Co.	Add 12.70%	45,480	0.00
☰	PKE - Park Electrochemical Corporation	Add 12.24%	65,438	0.00
☰	XEC-OLD - Cimarex Energy Co.	Add 12.06%	16,382	0.00
☰	JJSF - J&J Snack Foods Corp.	Add 11.44%	32,402	0.00
☰	IM - Ingram Micro Inc. CL A	Add 8.11%	267,240	0.00
☰	OSK - Oshkosh Corp.	Add 8.09%	137,975	0.00
☰	SXT - Sensient Technologies Corp.	Add 7.39%	53,180	0.00
☰	BELFB - Bel Fuse Inc.	Add 7.05%	83,187	0.00
☰	CKH - Seacor Holdings Inc.	Add 7.05%	43,094	0.00
☰	BRSWQ - Bristow Group Inc.	Add 6.77%	94,105	0.00
☰	WIRE - Encore Wire Corporation	Add 6.20%	41,492	0.00
☰	MANT - Mantech International Corp.	Add 5.17%	75,920	0.00
☰	TFX - Teleflex Inc.	Add 4.86%	39,770	0.00
☰	SEMG - SemGroup Corporation	Add 2.02%	29,925	0.00
☰	ACGL - Arch Capital Group Ltd.	Add 1.15%	18,225	0.00
☰	HAE - Haemonetics Corp.	Add 0.92%	6,100	0.00
☰	NEM - Newmont Corp.	Add 0.09%	435	0.00
☰	CMA - Comerica Inc.	Buy	798,460	0.00
☰	DAR - Darling Ingredients Inc.	Buy	729,157	0.00
☰	DLPH - Delphi Automotive plc	Buy	66,316	0.00
☰	KELYA - Kelly Services Inc. CL A	Buy	275,000	0.00
☰	KMT - Kennametal Inc.	Buy	1,012,480	0.00
☰	LXU - LSB Industries, Inc.	Buy	994,305	0.00
☰	NLOK - Symantec Corp	Buy	1,518,500	0.00
☰	PRGS - Progress Software Corp.	Buy	1,203,734	0.00
☰	RFP - Resolute Forest Products, Inc. COM	Buy	122,300	0.00
☰	RSTI - Rofin-Sinar Technologies Inc.	Buy	1,370,103	0.00
	Q1 2012
☰	JJSF - J&J Snack Foods Corp.	Add 559.01%	240,326	0.36
☰	CMP - Compass Minerals International, Inc.	Add 385.22%	307,697	0.63
☰	SXT - Sensient Technologies Corp.	Add 49.10%	237,085	0.26
☰	TFX - Teleflex Inc.	Add 28.54%	181,800	0.32
☰	UNF - UniFirst Corp.	Add 25.45%	86,850	0.15
☰	SNY - Sanofi	Add 20.16%	3,055	0.00
☰	SEMG - SemGroup Corporation	Add 17.55%	220,675	0.18
☰	MANT - Mantech International Corp.	Add 16.58%	208,949	0.21
☰	EME - EMCOR Group, Inc.	Add 16.42%	96,649	0.08
☰	ICFI - ICF International, Inc.	Add 14.56%	134,355	0.10
☰	HAE - Haemonetics Corp.	Add 11.38%	67,374	0.07
☰	CKH - Seacor Holdings Inc.	Add 10.84%	59,771	0.16
☰	LXK - Lexmark International Inc. CL A	Add 9.31%	126,640	0.12
☰	MTN - Vail Resorts, Inc.	Add 8.08%	111,645	0.14
☰	EXL - Excel Trust, Inc.	Add 6.55%	50,564	0.02
☰	KEY - KeyCorp	Add 6.42%	909,185	0.22
☰	IM - Ingram Micro Inc. CL A	Add 5.90%	183,457	0.10
☰	KGC - Kinross Gold Corp.	Add 3.01%	84,983	0.02
☰	ESIO - Electro Scientific Industries, InCOM	Add 2.45%	32,000	0.01
☰	ACGL - Arch Capital Group Ltd.	Add 0.04%	600	0.00
☰	BELFB - Bel Fuse Inc.	Add 0.02%	250	0.00
☰	DVN - Devon Energy Corp.	Buy	668,505	1.36
☰	SCL - Stepan Co.	Buy	357,986	0.45
☰	VTGDF - Vantage Drilling Co.	Buy	350,000	0.02
	Q4 2011
☰	HAE - Haemonetics Corp.	Add 1017.81%	539,278	0.51
☰	SXT - Sensient Technologies Corp.	Add 64.33%	189,022	0.22
☰	GGP* - General Growth Properties, Inc.	Add 42.91%	534,720	0.25
☰	SEMG - SemGroup Corporation CL A	Add 33.39%	314,719	0.25
☰	ESIO - Electro Scientific Industries, Inc.	Add 29.26%	295,204	0.13
☰	TRNO - Terreno Realty Corp.	Add 25.86%	64,900	0.03
☰	MTX - Minerals Technologies Inc.	Add 20.42%	194,716	0.17
☰	FR - First Industrial Realty Trust, Inc.	Add 19.46%	631,463	0.20
☰	EFII - Electronics for Imaging Inc.	Add 15.99%	349,385	0.15
☰	MANT - Mantech International Corp.	Add 15.17%	165,969	0.16
☰	CDR - Cedar Shopping Centers	Add 14.84%	69,000	0.01
☰	CKH - Seacor Holdings Inc.	Add 14.78%	71,020	0.19
☰	WLK - Westlake Corp.	Add 14.60%	165,880	0.10
☰	XEC-OLD - Cimarex Energy Co.	Add 14.48%	20,100	0.04
☰	TFX - Teleflex Inc.	Add 11.29%	64,594	0.12
☰	IM - Ingram Micro Inc. CL A	Add 9.41%	267,524	0.15
☰	MTN - Vail Resorts, Inc.	Add 6.05%	78,880	0.10
☰	EXL - Excel Trust, Inc.	Add 1.59%	12,097	0.00
☰	SSUP - Superior Industries Int'l, Inc.	Add 1.49%	35,530	0.02
☰	LEN - Lennar Corp.	Add 0.28%	7,144	0.00
☰	TRH - Transatlantic Holdings Inc.	Buy	344,029	0.58
☰	EME - EMCOR Group, Inc.	Buy	588,431	0.48
☰	SPY - State Street SPDR S&P 500 ETF Trust	Buy	50,260	0.19
☰	CMP - Compass Minerals International, Inc.	Buy	79,876	0.17
☰	JJSF - J&J Snack Foods Corp.	Buy	42,991	0.07
☰	JOE - The St. Joe Co.	Buy	15,900	0.01
	Q3 2011
☰	RYL - Ryland Group Inc.	Add 1177.31%	787,622	0.26
☰	XEC-OLD - Cimarex Energy Co.	Add 489.78%	115,250	0.20
☰	TFX - Teleflex Inc.	Add 340.98%	442,531	0.73
☰	EXL - Excel Trust, Inc.	Add 105.44%	389,805	0.12
☰	MTX - Minerals Technologies Inc.	Add 76.51%	413,372	0.31
☰	TRNO - Terreno Realty Corp.	Add 67.33%	100,990	0.04
☰	IRS - IRSA Inversiones y Representaciones Sociedad Anónima	Add 63.13%	29,069	0.01
☰	GM - General Motors Co.	Add 63.04%	147,500	0.09
☰	OSK - Oshkosh Corp.	Add 48.28%	611,993	0.30
☰	CKH - Seacor Holdings Inc.	Add 32.09%	116,712	0.29
☰	MTN - Vail Resorts, Inc.	Add 23.05%	244,218	0.28
☰	TLAB - Tellabs, Inc.	Add 22.73%	4,729,088	0.62
☰	ICFI - ICF International, Inc.	Add 22.38%	184,183	0.11
☰	MANT - Mantech International Corp.	Add 14.55%	139,019	0.13
☰	KALU - Kaiser Aluminum Corp.	Add 14.54%	118,479	0.16
☰	SSUP - Superior Industries Int'l, Inc.	Add 14.17%	295,683	0.14
☰	PKE - Park Electrochemical Corporation	Add 9.10%	96,097	0.06
☰	WY - Weyerhaeuser Co.	Add 8.62%	560,508	0.27
☰	CVCO - Cavco Industries, Inc.	Add 8.56%	71,155	0.08
☰	BRSWQ - Bristow Group Inc.	Add 6.31%	98,924	0.13
☰	IM - Ingram Micro Inc. CL A	Add 6.16%	164,900	0.08
☰	ACGL - Arch Capital Group Ltd.	Add 5.37%	150,900	0.05
☰	BELFB - Bel Fuse Inc.	Add 5.04%	60,759	0.03
☰	LXK - Lexmark International Inc. CL A	Add 4.48%	58,566	0.05
☰	KGC - Kinross Gold Corp.	Add 4.27%	172,500	0.08
☰	KEY - KeyCorp	Add 3.71%	512,495	0.09
☰	FCYA - Forest City Enterprises Inc. CL A	Add 3.21%	621,398	0.20
☰	BNY - The Bank of New York Mellon Cor	Add 2.83%	277,985	0.16
☰	ECA - Encana Corporation	Add 2.73%	131,774	0.08
☰	ALG - Alamo Group Inc.	Add 2.41%	19,095	0.01
☰	WLK - Westlake Corp.	Add 2.02%	22,450	0.01
☰	NLY - Annaly Capital Management, Inc.	Add 1.93%	2,900	0.01
☰	WHG - Westwood Holdings Group Inc.	Add 1.29%	6,900	0.01
☰	TPGI - Thomas Properties Group Inc.	Add 1.11%	84,500	0.01
☰	FR - First Industrial Realty Trust, Inc.	Add 1.01%	32,375	0.01
☰	ITG - Investment Technology Group	Add 0.73%	30,958	0.01
☰	PKX - Posco	Add 0.46%	20,150	0.05
☰	LEN - Lennar Corp.	Add 0.45%	11,451	0.00
☰	AEO - American Eagle Outfitters, Inc.	Buy	1,844,457	0.66
☰	SEMG - SemGroup Corporation	Buy	942,632	0.58
☰	GGP* - General Growth Properties, Inc.	Buy	1,246,134	0.46
☰	SXT - Sensient Technologies Corp.	Buy	293,854	0.29
☰	AO5 - Aeropostale Inc.	Buy	726,950	0.24
☰	HAE - Haemonetics Corp.	Buy	52,984	0.05
☰	CDR - Cedar Shopping Centers	Buy	465,000	0.04
☰	FPO - First Potomac Realty Trust	Buy	44,300	0.02
☰	KIM - Kimco Realty Corp.	Buy	22,845	0.01
☰	PLD - Prologis, Inc.	Buy	14,180	0.01
☰	CMLS - Cumulus Media Inc.	Buy	38,025	0.00
☰	CMO - Capstead Mortgage Corporation COM NO PAR	Buy	12,500	0.00
	Q2 2011
☰	EXL - Excel Trust, Inc.	Add 2912.70%	357,417	0.10
☰	UNF - UniFirst Corp.	Add 176.90%	218,616	0.30
☰	CKH - Seacor Holdings Inc.	Add 175.07%	231,473	0.56
☰	MANT - Mantech International Corp.	Add 112.00%	504,668	0.54
☰	MTX - Minerals Technologies Inc.	Add 98.79%	268,508	0.22
☰	HAJ1 - HKN Inc.	Add 74.80%	35,515	0.00
☰	TRNO - Terreno Realty Corp.	Add 50.00%	50,000	0.02
☰	MTN - Vail Resorts, Inc.	Add 48.04%	343,780	0.38
☰	KGC - Kinross Gold Corp.	Add 45.08%	1,254,493	0.48
☰	GM - General Motors Co.	Add 40.38%	67,300	0.05
☰	KALU - Kaiser Aluminum Corp.	Add 39.84%	232,180	0.31
☰	ACGL - Arch Capital Group Ltd.	Add 39.23%	792,180	0.20
☰	LXK - Lexmark International Inc. CL A	Add 29.31%	296,072	0.21
☰	JAKK - Jakks Pacific, Inc.	Add 21.40%	27,881	0.12
☰	BELFB - Bel Fuse Inc.	Add 17.14%	176,258	0.09
☰	SNPS - Synopsys, Inc.	Add 13.88%	170,700	0.11
☰	IM - Ingram Micro Inc. CL A	Add 8.22%	203,300	0.09
☰	KEY - KeyCorp	Add 5.69%	743,245	0.15
☰	TLAB - Tellabs, Inc.	Add 5.44%	1,073,222	0.12
☰	BRSWQ - Bristow Group Inc.	Add 3.94%	59,417	0.07
☰	ALG - Alamo Group Inc.	Add 1.23%	9,606	0.01
☰	WHG - Westwood Holdings Group Inc.	Add 1.19%	6,265	0.01
☰	WY - Weyerhaeuser Co.	Add 0.89%	57,639	0.03
☰	PKX - Posco	Add 0.12%	5,200	0.01
☰	ALCO - Alico, Inc.	Add 0.11%	300	0.00
☰	OSK - Oshkosh Corp.	Buy	1,267,685	0.89
☰	ICFI - ICF International, Inc.	Buy	822,818	0.50
☰	AIG - American International Group, Inc.	Buy	383,000	0.27
☰	TFX - Teleflex Inc.	Buy	129,781	0.19
	Q1 2011
☰	KGC - Kinross Gold Corp.	Add 151.78%	1,677,748	0.58
☰	TRNO - Terreno Realty Corp.	Add 100.00%	50,000	0.02
☰	FR - First Industrial Realty Trust, Inc.	Add 74.09%	1,380,000	0.36
☰	IRS - IRSA Inversiones y Representaciones Sociedad Anónima	Add 56.01%	27,650	0.01
☰	ACGL - Arch Capital Group Ltd.	Add 17.35%	298,530	0.07
☰	TLAB - Tellabs, Inc.	Add 15.95%	2,714,329	0.31
☰	ECA - Encana Corp.	Add 12.95%	559,320	0.35
☰	IM - Ingram Micro Inc. CL A	Add 5.66%	132,600	0.06
☰	JAKK - Jakks Pacific, Inc.	Add 5.65%	6,962	0.03
☰	LXK - Lexmark International Inc. CL A	Add 2.37%	23,420	0.02
☰	GGP* - General Growth Properties, Inc.	Add 2.14%	392	0.00
☰	KEY - KeyCorp	Add 0.31%	40,100	0.01
☰	WHG - Westwood Holdings Group Inc.	Add 0.25%	1,315	0.00
☰	ALCO - Alico, Inc.	Add 0.23%	600	0.00
☰	BELFB - Bel Fuse Inc.	Add 0.18%	1,800	0.00
☰	KALU - Kaiser Aluminum Corp.	Add 0.17%	1,000	0.00
☰	SNPS - Synopsys, Inc.	Add 0.16%	2,000	0.00
☰	PKX - Posco	Add 0.14%	6,000	0.02
☰	UNF - UniFirst Corp.	Add 0.12%	150	0.00
☰	KSWS - K-Swiss Inc. CL A	Add 0.07%	2,600	0.00
☰	MANT - Mantech International Corp.	Buy	450,606	0.42
☰	CKH - Seacor Holdings Inc.	Buy	132,217	0.27
☰	NLY - Annaly Capital Management, Inc.	Buy	153,576	0.24
☰	MTX - Minerals Technologies Inc.	Buy	271,800	0.20
☰	BKU - Bank United Co.	Buy	20,000	0.01
☰	PSB - PS Business Parks, Inc.	Buy	6,100	0.01
☰	EXL - Excel Trust, Inc.	Buy	12,271	0.00
	Q4 2010
☰	TRNO - Terreno Realty Corp.	Add 100.00%	25,000	0.01
☰	KGC - Kinross Gold Corp.	Add 92.08%	529,882	0.22
☰	ICO - International Coal Group Inc.	Add 30.96%	202,600	0.03
☰	LEN - Lennar Corp.	Add 28.37%	568,951	0.22
☰	WY - Weyerhaeuser Co.	Add 12.28%	712,140	0.30
☰	IM - Ingram Micro Inc. CL A	Add 7.61%	165,641	0.07
☰	FR - First Industrial Realty Trust, Inc.	Add 6.95%	121,033	0.02
☰	SNY - Sanofi	Add 5.49%	1,565	0.00
☰	LXK - Lexmark International Inc. CL A	Add 5.42%	50,700	0.04
☰	TLAB - Tellabs, Inc.	Add 0.75%	126,350	0.02
☰	BRNC - Bronco Drilling Co. Inc.	Add 0.32%	20,000	0.00
☰	PKX - Posco ADR	Add 0.17%	7,500	0.02
☰	UNF - UniFirst Corp.	Add 0.13%	161	0.00
☰	ACGL - Arch Capital Group Ltd.	Add 0.10%	1,800	0.00
☰	TRC - Tejon Ranch Co.	Add 0.00%	119	0.00
☰	GM - General Motors Co.	Buy	375,000	0.30
☰	DNN - Denison Mines Corp.	Buy	1,838,700	0.14
☰	RYL - Ryland Group Inc.	Buy	66,900	0.03
☰	GGP* - General Growth Properties, Inc.	Buy	18,312	0.01
	Q3 2010
☰	WY - Weyerhaeuser Co.	Add 237.88%	4,083,744	1.50
☰	IRS - IRSA Inversiones y Representaciones Sociedad Anónima	Add 180.40%	31,761	0.01
☰	LEN - Lennar Corp.	Add 111.43%	1,056,865	0.36
☰	WL - Wilmington Trust Corp.	Add 107.93%	1,243,084	0.26
☰	UNF - UniFirst Corp.	Add 104.45%	62,977	0.06
☰	SNY - Sanofi	Add 51.73%	9,725	0.01
☰	IM - Ingram Micro Inc. CL A	Add 46.44%	690,153	0.27
☰	ICO - International Coal Group Inc.	Add 18.04%	100,000	0.01
☰	NEM - Newmont Corp.	Add 13.63%	104,407	0.15
☰	BRNC - Bronco Drilling Co. Inc.	Add 12.45%	700,916	0.07
☰	WHG - Westwood Holdings Group Inc.	Add 7.19%	35,717	0.03
☰	ECA - Encana Corp.	Add 6.13%	278,458	0.20
☰	ITG - Investment Technology Group	Add 2.68%	115,640	0.04
☰	BIP - Brookfield Infrastructure Partners LP INT UNIT	Add 1.89%	20,160	0.00
☰	CTO - CTO Realty Growth, Inc.	Add 1.54%	29,472	0.01
☰	XEC-OLD - Cimarex Energy Co.	Add 0.91%	19,825	0.03
☰	KEY - KeyCorp	Add 0.86%	111,725	0.02
☰	SKY - Champion Homes, Inc.	Add 0.43%	6,083	0.00
☰	BNY - The Bank of New York Mellon Cor	Add 0.34%	33,310	0.02
☰	TRC - Tejon Ranch Co.	Add 0.19%	10,517	0.00
☰	ACGL - Arch Capital Group Ltd.	Add 0.10%	1,800	0.00
☰	BELFB - Bel Fuse Inc.	Add 0.07%	700	0.00
☰	WIRE - Encore Wire Corp.	Add 0.03%	700	0.00
☰	KGC - Kinross Gold Corp.	Buy	575,476	0.25
☰	FR - First Industrial Realty Trust, Inc.	Buy	1,741,600	0.21
☰	FURX - Furiex Parmaceuticals	Buy	38,789	0.01
☰	TRNO - Terreno Realty Corp.	Buy	25,000	0.01
☰	NLY - Annaly Capital Management, Inc.	Buy	2,885	0.00
	Q2 2010
☰	IM - Ingram Micro Inc. CL A	Add 99.62%	741,600	0.29
☰	WY - Weyerhaeuser Co.	Add 41.76%	505,707	0.46
☰	8394653Q - Prologis Trust SH BEN INT	Add 32.47%	499,908	0.13
☰	WL - Wilmington Trust Corp.	Add 22.85%	214,193	0.06
☰	SCMR - Sycamore Networks, Inc.	Add 22.59%	1,296,201	0.56
☰	ECA - Encana Corporation Total	Add 13.97%	557,375	0.44
☰	ITG - Investment Technology Group	Add 5.82%	237,085	0.10
☰	EFII - Electronics for Imaging Inc.	Add 4.10%	163,782	0.04
☰	TRC - Tejon Ranch Co.	Add 3.76%	196,128	0.11
☰	CCRN - Cross Country Healthcare, Inc.	Add 0.65%	41,490	0.01
☰	WHG - Westwood Holdings Group Inc.	Add 0.61%	3,000	0.00
☰	GWR - Genesee & Wyoming Inc. CL A	Add 0.28%	250	0.00
☰	KALU - Kaiser Aluminum Corp.	Add 0.20%	1,700	0.00
☰	BNY - The Bank of New York Mellon Cor	Add 0.18%	17,438	0.01
☰	PKX - Posco	Add 0.14%	6,008	0.01
☰	LEN - Lennar Corp.	Buy	948,446	0.33
☰	JNC - Nuveen Investments, Inc., CL A CL A	Buy	2,925,000	0.08
☰	UNF - UniFirst Corp.	Buy	60,295	0.07
☰	ICO - International Coal Group Inc.	Buy	554,461	0.06
☰	IRS - IRSA Inversiones y Representaciones Sociedad Anónima	Buy	17,606	0.01
☰	SNY - Sanofi	Buy	18,800	0.01
	Q1 2010
☰	IM - Ingram Micro Inc. CL A	Add 47.27%	238,944	0.09
☰	WY - Weyerhaeuser Co.	Add 23.30%	228,836	0.22
☰	KEY - KeyCorp	Add 20.10%	2,205,040	0.36
☰	NAL - NewAlliance Bancshares, Inc.	Add 12.92%	58,700	0.02
☰	ECA - Encana Corporation Total	Add 11.88%	423,423	0.28
☰	SCMR - Sycamore Networks, Inc. Total	Add 8.48%	448,762	0.19
☰	CTO - CTO Realty Growth, Inc.	Add 2.69%	50,538	0.01
☰	WLK - Westlake Corp.	Add 2.31%	81,412	0.02
☰	PPDI - Pharmaceutical Product Dev. Inc.	Add 1.77%	56,350	0.03
☰	ITG - Investment Technology Group	Add 0.75%	30,355	0.01
☰	SKY - Champion Homes, Inc.	Add 0.74%	10,500	0.00
☰	NBR - Nabors Industries Ltd.	Add 0.50%	1,200	0.02
☰	PKX - Posco ADR Total	Add 0.37%	16,000	0.04
☰	WHG - Westwood Holdings Group Inc.	Add 0.30%	1,500	0.00
☰	CCRN - Cross Country Healthcare, Inc.	Add 0.20%	12,684	0.00
☰	ALCO - Alico, Inc.	Add 0.19%	500	0.00
☰	KALU - Kaiser Aluminum Corp.	Add 0.18%	1,500	0.00
☰	ACGL - Arch Capital Group Ltd.	Add 0.14%	3,654	0.00
☰	SNPS - Synopsys, Inc.	Add 0.14%	2,980	0.00
☰	JAKK - Jakks Pacific, Inc.	Add 0.12%	198	0.00
☰	PKE - Park Electrochemical Corporation	Add 0.09%	1,320	0.00
☰	WIRE - Encore Wire Corporation	Add 0.09%	2,000	0.00
☰	BRNC - Bronco Drilling Co. Inc.	Add 0.06%	3,100	0.00
☰	HRLY - Herley Industries, Inc.	Add 0.04%	500	0.00
☰	CIT - CIT Group Inc.	Buy	398,327	0.33
☰	WL - Wilmington Trust Corp.	Buy	937,592	0.33
	Q4 2009
☰	TPGI - Thomas Properties Group Inc.	Add 182.62%	5,151,200	0.33
☰	8394653Q - Prologis Trust SH BEN INT	Add 47.00%	516,100	0.15
☰	ITG - Investment Technology Group	Add 20.78%	696,016	0.30
☰	ECA - Encana Corporation	Add 17.91%	541,460	0.38
☰	WY - Weyerhaeuser Co.	Add 11.86%	104,149	0.10
☰	MRH - Montpelier Re Holdings Ltd.	Add 10.58%	471,025	0.18
☰	JAKK - Jakks Pacific, Inc.	Add 8.23%	12,340	0.03
☰	BNY - The Bank of New York Mellon Cor	Add 7.01%	652,650	0.39
☰	TLAB - Tellabs, Inc.	Add 2.23%	538,750	0.07
☰	CVCO - Cavco Industries, Inc.	Add 1.55%	12,684	0.01
☰	KSWS - K-Swiss Inc. CL A	Add 1.37%	60,671	0.01
☰	SKY - Champion Homes, Inc.	Add 1.07%	14,985	0.01
☰	WHG - Westwood Holdings Group Inc.	Add 0.99%	4,800	0.00
☰	MDC - MDC Holdings Inc.	Add 0.83%	13,425	0.01
☰	VNO - Vornado Realty Trust	Add 0.59%	7,303	0.01
☰	CCRN - Cross Country Healthcare, Inc.	Add 0.47%	29,570	0.01
☰	JOE - The St. Joe Co.	Add 0.30%	6,882	0.00
☰	TRC - Tejon Ranch Co.	Add 0.20%	10,508	0.01
☰	BAM.A - Brookfield Asset Mgmt. CL A LTD VT SH	Add 0.19%	40,544	0.02
☰	NBR - Nabors Industries Ltd.	Add 0.12%	300	0.01
☰	KEY - KeyCorp	Buy	10,970,000	1.32
	Q3 2009
☰	PPDI - Pharmaceutical Product Development	Add 9.88%	328,217	0.15
☰	LXK - Lexmark International Inc. CL A	Add 5.82%	105,130	0.05
☰	ITG - Investment Technology Group	Add 2.99%	97,237	0.06
☰	ECA - Encana Corporation	Add 2.83%	83,246	0.10
☰	CCRN - Cross Country Healthcare, Inc.	Add 2.52%	155,700	0.03
☰	BNY - The Bank of New York Mellon Cor	Add 1.59%	145,900	0.09
☰	WY - Weyerhaeuser Co.	Add 0.38%	3,289	0.00
☰	CVA - Covanta Holding Corporation	Add 0.27%	25,000	0.01
☰	NBR - Nabors Industries Ltd.	Add 0.21%	500	0.01
☰	KALU - Kaiser Aluminum Corp.	Add 0.04%	300	0.00
☰	KSWS - K-Swiss Inc., CL A	Add 0.04%	1,666	0.00
☰	ALCO - Alico, Inc.	Add 0.03%	73	0.00
☰	JAKK - Jakks Pacific, Inc.	Add 0.02%	30	0.00
☰	SNPS - Synopsys, Inc.	Add 0.02%	450	0.00
☰	BELFB - Bel Fuse Inc.	Add 0.01%	150	0.00
☰	PKE - Park Electrochemical Corporation	Add 0.01%	200	0.00
☰	KIDBQ - Kid Brands, Inc.	Buy	311,837	0.04
	Q2 2009
☰	WY - Weyerhaeuser Co.	Add 2180.69%	836,404	0.66
☰	PPDI - Pharmaceutical Product Dev. Inc.	Add 306.33%	2,503,368	1.51
☰	JAKK - Jakks Pacific, Inc.	Add 24.17%	29,162	0.10
☰	FCYA - Forest City Enterprises Inc. CL A	Add 21.49%	4,887,696	0.84
☰	ITG - Investment Technology Group	Add 18.67%	511,783	0.27
☰	AKR - NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL DSCRETN MNGRS SOLE SHARED NONE Acadia Realty Trust COM SH BEN INT	Add 9.68%	5,799	0.00
☰	VNO - Vornado Realty Trust	Add 7.11%	82,119	0.07
☰	TPGI - Thomas Properties Group Inc.	Add 6.76%	184,594	0.01
☰	KIM - Kimco Realty Corp.	Add 6.04%	98,700	0.03
☰	CCRN - Cross Country Healthcare, Inc.	Add 4.43%	262,507	0.05
☰	BPO - Brookfield Properties	Add 2.59%	5,000	0.00
☰	SCMR - Sycamore Networks, Inc.	Add 2.00%	894,770	0.07
☰	CVA - Covanta Holding Corporation	Add 0.43%	40,000	0.02
☰	NBR - Nabors Industries Ltd.	Add 0.42%	1,000	0.02
☰	TRC - Tejon Ranch Co.	Add 0.35%	18,471	0.01
☰	PKX - Posco ADR	Add 0.33%	14,725	0.03
☰	ALCO - Alico, Inc.	Add 0.03%	77	0.00
☰	BELFB - Bel Fuse Inc.	Add 0.02%	220	0.00
☰	KALU - Kaiser Aluminum Corp.	Add 0.02%	200	0.00
	Q1 2009
☰	PKX - Posco ADR	Buy	4,399,504	8.87
☰	BAM.A - Brookfield Asset Mgmt. CL A CL A	Buy	21,308,240	8.86
☰	BNY - The Bank of New York Mellon Cor	Buy	9,379,811	7.99
☰	TLAB - Tellabs, Inc.	Buy	31,816,993	4.40
☰	XEC-OLD - Cimarex Energy Co.	Buy	7,669,005	4.25
☰	AVX - AVX Corporation	Buy	25	3.71
☰	ECA - Encana Corporation	Buy	2,985,694	3.66
☰	CVA - Covanta Holding Corporation	Buy	9,196,289	3.63
☰	NBR - Nabors Industries Ltd.	Buy	240,360	3.62
☰	SCMR - Sycamore Networks, Inc.	Buy	44,790,880	3.61
☰	TRC - Tejon Ranch Co.	Buy	5,235,755	3.07
☰	MBI - MBIA Inc.	Buy	20,193,337	2.79
☰	FCYA - Forest City Enterprises Inc. CL A	Buy	22,748,478	2.47
☰	WIRE - Encore Wire Corporation	Buy	3,593,413	2.32
☰	ITG - Investment Technology Group	Buy	2,740,577	2.11
☰	BRSWQ - Bristow Group Inc.	Buy	2,972,804	1.92
☰	MRH - Montpelier Re Holdings Ltd.	Buy	4,701,536	1.84
☰	MDC - MDC Holdings Inc.	Buy	1,919,582	1.80
☰	WLK - Westlake Corp.	Buy	7,826,176	1.73
☰	SSUP - Superior Industries Int'l, Inc.	Buy	4,256,128	1.52
☰	JOE - The St. Joe Co.	Buy	2,919,633	1.47
☰	SNPS - Synopsys, Inc.	Buy	2,291,476	1.43
☰	EFII - Electronics for Imaging Inc.	Buy	4,568,049	1.35
☰	NEM - Newmont Corp.	Buy	992,058	1.34
☰	KSWS - K-Swiss Inc., CL A CL A	Buy	4,669,763	1.20
☰	MTN - Vail Resorts, Inc.	Buy	1,916,440	1.18
☰	CCRN - Cross Country Healthcare, Inc.	Buy	5,925,705	1.17
☰	LXK - Lexmark International Inc. CL A	Buy	2,019,034	1.03
☰	SKY - Champion Homes, Inc.	Buy	1,712,129	0.98
☰	BRNC - Bronco Drilling Co. Inc.	Buy	6,136,209	0.97
☰	VNO - Vornado Realty Trust	Buy	1,155,204	0.85
☰	PKE - Park Electrochemical Corporation	Buy	1,494,694	0.78
☰	CITGQ - CIT Group Inc.	Buy	8,806,680	0.76
☰	ESIO - Electro Scientific Industries, Inc.	Buy	4,061,899	0.73
☰	RDN - Radian Group Inc.	Buy	11,649,014	0.64
☰	CVCO - Cavco Industries, Inc.	Buy	839,540	0.60
☰	KALU - Kaiser Aluminum Corp.	Buy	836,637	0.58
☰	PPDI - Pharmaceutical Product Dev. Inc.	Buy	817,226	0.58
☰	WHG - Westwood Holdings Group Inc.	Buy	496,010	0.58
☰	ACGL - Arch Capital Group Ltd.	Buy	3,122,964	0.56
☰	8394653Q - Prologis Trust SH BEN INT	Buy	2,828,579	0.55
☰	HRLY - Herley Industries, Inc.	Buy	1,401,036	0.51
☰	CTO - CTO Realty Growth, Inc.	Buy	2,071,145	0.50
☰	GWR - Genesee & Wyoming Inc. CL A	Buy	742,663	0.48
☰	BELFB - Bel Fuse Inc.	Buy	1,116,104	0.45
☰	JAKK - Jakks Pacific, Inc.	Buy	120,664	0.45
☰	ALG - Alamo Group Inc.	Buy	1,297,958	0.42
☰	KIM - Kimco Realty Corp.	Buy	1,635,100	0.38
☰	INTC - Intel Corp.	Buy	600,000	0.27
☰	COHR - Coherent Corp.	Buy	953,868	0.25
☰	IIIN - Insteel Industries Inc.	Buy	1,197,356	0.25
☰	IM - Ingram Micro Inc. CL A	Buy	615,450	0.23
☰	NAL - NewAlliance Bancshares, Inc.	Buy	622,936	0.22
☰	BFSB - Brooklyn Federal Bancorp Inc.	Buy	637,122	0.21
☰	ALCO - Alico, Inc.	Buy	269,014	0.19
☰	BIP - Brookfield Infrastructure Part. L.P.UNIT	Buy	1,189,722	0.19
☰	OFLX - Omega Flex Inc.	Buy	360,100	0.18
☰	TBL - The Timberland Company COM CL A	Buy	493,358	0.18
☰	JJATF - Barclays Bank PLC ETN IPTH AGRI	Buy	132,472	0.15
☰	AGU - Agrium, Inc.	Buy	110,779	0.12
☰	COP - ConocoPhillips	Buy	129,500	0.12
☰	TPGI - Thomas Properties Group Inc.	Buy	2,730,049	0.10
☰	AEC - Associated Estates Realty Corp.	Buy	70	0.09
☰	JRN - Journal Communications Inc. CL A	Buy	3,901,921	0.09
☰	MTG - MGIC Investment Corp.	Buy	2,080,000	0.09
☰	BORL - Borland Software Corporation	Buy	3,468,371	0.05
☰	FO2 - Patriot Transportation Holdings	Buy	24,336	0.05
☰	BPO - Brookfield Properties	Buy	192,970	0.03
☰	IAG - IAMGOLD Corp.	Buy	124,100	0.03
☰	UMC - United Microelectronics Corp.	Buy	364,077	0.03
☰	WY - Weyerhaeuser Co.	Buy	38,355	0.03
☰	0814429D - GSI Group Inc.	Buy	730,434	0.02
☰	AH1 - Avatar Holdings Inc.	Buy	36,844	0.02
☰	AKR - NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000 PRN AMT PRN CALLDSCRETN MNGRS SOLE SHARED NONE Acadia Realty Trust	Buy	59,925	0.02
☰	PSB - PS Business Parks, Inc.	Buy	22,100	0.02
☰	BELFA - Bel Fuse Inc.	Buy	37,119	0.01
☰	CNX - CNX Resources Corp.	Buy	890,957	0.01
☰	FPO - First Potomac Realty Trust	Buy	60,500	0.01
☰	0000420W - Stoneleigh Partners Acquisition WTS EXP 05/31/11	Buy	1,667,900	0.00
☰	0000503W - United Refining Energy Corp. WTS EXP 12/11/11	Buy	500,000	0.00
☰	1367506D - Forest City Enterprises Inc. CL B CONV	Buy	25,800	0.00
☰	HAJ1 - HKN Inc.	Buy	47,478	0.00
☰	TGIC - Triad Guaranty Inc.	Buy	778,500	0.00
	Q2 2008
☰	0000378W - Media & Entertainment Hlds, WTS	Add 100.00%	99	0.07
☰	CYRV - Crystal River Capital Inc. REIT	Add 73.97%	3,719	0.25
☰	NBR - Nabors Industries Ltd.	Add 47.82%	3,457	0.86
☰	OFLX - Omega Flex Inc.	Add 41.48%	1,605	0.03
☰	0000365W - Geneva Acquisition Corp WTS EXP 02/12/2010	Add 38.10%	16	0.02
☰	SCMR - Sycamore Networks, Inc.	Add 32.92%	30,009	2.29
☰	HAJ1 - Hkn Inc	Add 32.05%	133	0.00
☰	0000420W - Stoneleigh Partners Warrants WTS	Add 25.08%	158	0.09
☰	SUND - Suncor Energy Inc.	Add 23.71%	7,614	0.10
☰	0000329W - Transforma Acquisition Group WTS EXP 12/19/2010	Add 20.00%	5	0.00
☰	HRLY - Herley Industries, Inc.	Add 19.78%	5,848	0.11
☰	WLK - Westlake Corp.	Add 19.14%	30,750	0.25
☰	BAM.A - Brookfield Asset Mgmt.	Add 16.54%	113,011	0.85
☰	WIRE - Encore Wire Corporation	Add 16.36%	11,815	0.14
☰	JJATF - iPath-Barclays Bk PLC ETN IPTH AGRI	Add 15.85%	1,213	0.00
☰	BRNC - Bronco Drilling Co. Inc.	Add 15.22%	14,972	0.20
☰	NEM - Newmont Corp.	Add 14.82%	10,145	0.05
☰	TPGI - Thomas Properties Group Inc.	Add 12.99%	2,923	0.07
☰	PKX - Posco ADR	Add 12.34%	62,388	0.12
☰	IM - Ingram Micro Inc.	Add 12.12%	1,181	0.02
☰	MTN - Vail Resorts, Inc.	Add 11.46%	6,092	0.03
☰	CCRN - Cross Country Healthcare, Inc.	Add 10.40%	5,985	0.10
☰	BFH - Bread Financial Holdings, Inc.	Add 10.07%	18,567	0.06
☰	LXK - Lexmark International Inc.	Add 8.93%	7,161	0.05
☰	XEC-OLD - Cimarex Energy Co.	Add 8.08%	27,739	0.10
☰	WHG - Westwood Holdings Group Inc.	Add 4.56%	1,256	0.01
☰	EFII - Electronics for Imaging Inc.	Add 3.58%	2,989	0.05
☰	INTC - Intel Corp.	Add 3.34%	2,981	0.03
☰	GAC - Geneva Acquisition Corp UNIT	Add 3.00%	27	0.00
☰	REIS - Reis, Inc.	Add 2.60%	43	0.00
☰	PKE - Park Electrochemical Corp	Add 2.00%	577	0.01
☰	FO2 - Patriot Transportation Holdi	Add 1.98%	140	0.00
☰	ECA - Encana Corporation	Add 1.96%	2,665	0.01
☰	TRC - Tejon Ranch Co.	Add 1.70%	3,031	0.02
☰	TVH.U - Media & Entertainment Hlds, UNIT	Add 1.60%	39	0.00
☰	SNPS - Synopsys, Inc.	Add 0.75%	278	0.00
☰	CVA - Covanta Holding Corporation	Add 0.57%	1,384	0.01
☰	0000503W - United Refining Energy Corp WTS EXP 12/11/2011	Buy	305	0.12
	Q1 2008
☰	IRS - IRSA Inversiones y Representaciones Sociedad Anónima	Add 129.00%	5,743	0.11
☰	MBI - MBIA Inc.	Add 62.99%	161,639	3.24
☰	WIRE - Encore Wire Corporation	Add 56.39%	26,033	0.35
☰	8285437Q - Fording Canadian Coal Trust TR UNIT	Add 31.79%	36,024	0.17
☰	BRNC - Bronco Drilling Co. Inc.	Add 28.12%	21,589	0.33
☰	SXI - Standex International Corp.	Add 28.01%	2,349	0.03
☰	UMC - United Microelectronics Corp. ADR	Add 23.72%	1,102	0.08
☰	CVCO - Cavco Industries, Inc.	Add 22.09%	4,672	0.03
☰	SCMR - Sycamore Networks, Inc.	Add 21.73%	16,272	1.09
☰	CFNB - California First National Bank	Add 21.28%	10	0.01
☰	ANLD - American Land Lease Inc.	Add 20.86%	156	0.00
☰	NBR - Nabors Industries Ltd.	Add 20.52%	1,231	0.45
☰	CCRN - Cross Country Healthcare, Inc.	Add 18.57%	9,013	0.18
☰	IIIN - Insteel Industries Inc.	Add 17.09%	3,018	0.06
☰	ALG - Alamo Group Inc.	Add 16.21%	7,574	0.09
☰	CITGQ - CIT Group Inc.	Add 15.71%	13,749	0.28
☰	JOE - The St. Joe Co.	Add 13.49%	73,545	0.42
☰	SYBG - Sybase Inc.	Add 13.13%	3,747	0.03
☰	USG - USG Corporation	Add 11.04%	22,027	0.15
☰	SSUP - Superior Industries International, Inc.	Add 10.91%	9,617	0.11
☰	MTN - Vail Resorts, Inc.	Add 9.46%	4,593	0.02
☰	SKY - Champion Homes, Inc.	Add 8.75%	2,832	0.02
☰	CYRV - Crystal River Capital Inc. REIT	Add 4.53%	218	0.01
☰	KSWS - K-Swiss Inc.,	Add 4.40%	3,421	0.05
☰	AH1 - Avatar Holdings Inc.	Add 4.24%	724	0.00
☰	FO2 - Patriot Transportation Holdings	Add 3.67%	250	0.00
☰	DEL - Deltic Timber Corp.	Add 3.28%	1,868	0.01
☰	EFII - Electronics for Imaging Inc.	Add 2.53%	2,060	0.03
☰	ALCO - Alico, Inc.	Add 2.26%	346	0.00
☰	ECA - Encana Corporation	Add 1.50%	2,012	0.01
☰	BPO - Brookfield Properties	Add 1.36%	900	0.01
☰	TVH.U - Media & Entertainment Holdings, Inc. UNIT	Add 1.21%	29	0.00
☰	AVX - AVX Corporation	Buy	0	4.74
☰	URX.U - United Refining Energy Corporation UNIT	Buy	9,050	0.25
☰	BIP - Brookfield Infrastructure Partners L.P. UNIT	Buy	41,976	0.24
☰	GWR - Genesee & Wyoming Inc.	Buy	23,320	0.17
☰	CPHL - Castlepoint Holdings Ltd.	Buy	6,054	0.15
☰	REIS - Reis, Inc.	Buy	1,654	0.08
☰	PZN - Pzena Investment Management	Buy	2,154	0.05
☰	JJATF - iPath Dow Jones AIG Agri. Total Return ETN IPTH AGRI	Buy	7,652	0.03
☰	ABWTQ - AbitibiBowater Inc	Buy	323	0.01
☰	HAJ1 - HKN INC (f.k.a. Harken Energy Corp.)	Buy	415	0.01
	Q4 2007
☰	CITGQ - e Inc.	Add 339.67%	67,612	0.69
☰	NEM - Newmont Corp.	Add 96.85%	35,842	0.18
☰	MRH - ings Ltd.	Add 51.50%	36,597	0.53
☰	ASVI -	Add 50.04%	10,568	0.19
☰	BRSWQ - orporation	Add 28.18%	20,980	0.09
☰	CCRN - Cross Country Healthcare, Inc.	Add 27.93%	10,594	0.18
☰	LXK - nal Inc. CL A	Add 27.90%	19,059	0.13
☰	WIRE - ation	Add 24.47%	9,075	0.14
☰	CVCO - Inc.	Add 24.02%	4,096	0.03
☰	WLK - Westlake Corp.	Add 18.88%	27,980	0.18
☰	PRXL - nal Corporation	Add 17.03%	4,204	0.02
☰	IIIN - Insteel Industries Inc.	Add 14.17%	2,192	0.05
☰	PPDI - duct Dev. Inc.	Add 13.91%	9,070	0.06
☰	CVA - rporation	Add 12.85%	27,773	0.25
☰	SYBG - s Int'l, Inc.	Add 12.80%	3,238	0.03
☰	XEC-OLD - e Inc.	Add 12.05%	38,755	0.22
☰	KSWS - orp.	Add 11.56%	8,050	0.11
☰	CXG - e Inc.	Add 11.05%	1,704	0.01
☰	ITG - ogy Group	Add 10.72%	612	0.00
☰	SUND - s Warrants	Add 9.22%	3,059	0.02
☰	BNY - The Bank of New York Mellon Cor	Add 8.56%	38,296	0.19
☰	TLAB - Inc. Units	Add 8.46%	10,297	0.39
☰	WHG - Group Inc.	Add 8.34%	2,179	0.01
☰	ACGL - Arch Capital Group Ltd.	Add 8.27%	84,780	0.04
☰	USG - onics Corp. ADR	Add 8.11%	14,971	0.10
☰	JOE - The St. Joe Co.	Add 6.92%	35,273	0.24
☰	SKY - Champion Homes, Inc.	Add 6.16%	1,878	0.02
☰	IBAAY - , S.A. De C.v.	Add 4.69%	1,052	0.01
☰	BRNC - . Inc.	Add 2.10%	1,580	0.03
☰	GAC - Corp Unit	Add 1.24%	11	0.00
☰	IM - , S.A. De C.v.	Add 0.73%	225	0.00
☰	PFE - Pfizer Inc.	Add 0.72%	1,031	0.01
☰	LM - es Inc.	Add 0.09%	208	0.00
☰	LPX - Louisiana-Pacific Corp.	Buy	74,321	1.33
☰	BRKL - Inc.	Buy	53,631	1.29
☰	HVT - Haverty Furniture Companies, Inc.	Buy	42,873	1.17
☰	MTG - MGIC Investment Corp.	Buy	91,170	1.00
☰	HDLM - RE Ltd. Cl A	Buy	6,440	0.92
☰	ALEX - n, Inc.	Buy	149,614	0.71
☰	SF6 - Company, Inc.	Buy	34,335	0.70
☰	ABKFQ - oup	Buy	69,576	0.66
☰	RJF - Raymond James Financial, Inc.	Buy	119,735	0.60
☰	ORGN - nc.	Buy	291	0.53
☰	MSFT - Microsoft Corp.	Buy	71,200	0.49
☰	AMAT - Applied Materials, Inc.	Buy	30,255	0.42
☰	UMC - onics Corp. ADR	Buy	4,646	0.32
☰	0220142Q - s Inc.	Buy	57,239	0.29
☰	KE6 - orp.	Buy	13,474	0.28
☰	KS - Packaging	Buy	812	0.28
☰	TDW - Tidewater Inc.	Buy	1,831	0.26
☰	TGIC - p WTS EXP 12/19/2010	Buy	10,427	0.26
☰	IAG - IAMGOLD Corp.	Buy	8,350	0.25
☰	JEF - Jefferies Financial Group Inc.	Buy	23,653	0.22
☰	0000378W - dings, Inc. WTS	Buy	413	0.13
☰	FFG - p, Inc.	Buy	17,507	0.12
☰	BBT - ncorp Inc.	Buy	10,161	0.10
☰	EGP - EastGroup Properties, Inc.	Buy	16,777	0.10
☰	0000394W - l Inc. WTS	Buy	244	0.09
☰	DSCP - ion	Buy	12,460	0.08
☰	NW1A - ife Insurance Co.	Buy	62,827	0.07
☰	TNF.U - Inc. Units	Buy	1,421	0.05
☰	AFR - Realty Trust	Buy	1,200	0.04
☰	CSWC - ing Inc.	Buy	159,724	0.03
☰	WTM - White Mountains Insurance Group, Ltd.	Buy	30,894	0.01
	Q3 2007
☰	JNC - Nuveen Investments, Inc.,	Add 424.08%	207,640	0.95
☰	RDN - Radian Group Inc.	Add 123.06%	130,868	1.59
☰	FO2 - Patriot Transportation Holdings	Add 109.37%	3,793	0.01
☰	CYRV - Crystal River Capital Inc. REIT	Add 69.95%	2,391	0.04
☰	WIRE - Encore Wire Corporation	Add 60.70%	14,011	0.16
☰	MBI - MBIA Inc.	Add 60.37%	153,917	0.71
☰	MRH - Montpelier Re Holdings Ltd.	Add 57.69%	26,000	0.42
☰	LXK - Lexmark International Inc.	Add 48.16%	22,209	0.15
☰	WLK - Westlake Corp.	Add 45.63%	46,442	0.26
☰	MVC - MVC Capital Inc.	Add 43.80%	2,060	0.03
☰	3655488Q - Bois d Arc Energy, Inc.	Add 41.86%	275	0.00
☰	USG - USG Corporation	Add 39.04%	51,801	0.39
☰	CVCO - Cavco Industries, Inc.	Add 37.37%	4,638	0.04
☰	PKX - Posco ADR	Add 33.01%	182,784	0.29
☰	8285437Q - Fording Canadian Coal Trust UNIT	Add 32.59%	28,549	0.21
☰	XEC-OLD - Cimarex Energy Co.	Add 31.89%	77,795	0.59
☰	HTCH - Hutchinson Technology Inc.	Add 30.83%	580	0.01
☰	BRNC - Bronco Drilling Co. Inc.	Add 29.96%	17,337	0.33
☰	CCRN - Cross Country Healthcare, Inc.	Add 20.41%	6,429	0.10
☰	LUNMF - Lundin Mining Corp	Add 19.36%	1,928	0.04
☰	PKE - Park Electrochemical Corporation	Add 19.16%	5,915	0.05
☰	FPO - First Potomac Realty Trust SBI	Add 19.01%	4,869	0.06
☰	ESIO - Electro Scientific Industries, Inc.	Add 13.66%	11,094	0.13
☰	TD - The Toronto-Dominion Bank	Add 11.96%	268	0.00
☰	CLT - Clifton Savings Bancorp Inc.	Add 9.23%	50	0.00
☰	INTC - Intel Corp.	Add 8.41%	10,476	0.11
☰	STJ - St. Jude Medical Inc.	Add 6.21%	936	0.01
☰	TMP - Tompkins Trustco Inc.	Add 6.13%	138	0.00
☰	SKY - Champion Homes, Inc.	Add 5.78%	1,666	0.02
☰	PFE - Pfizer Inc.	Add 5.40%	7,332	0.08
☰	COHR - Coherent Corp.	Add 4.62%	2,442	0.01
☰	0814429D - GSI Group Inc.	Add 4.44%	1,305	0.03
☰	AKR - Acadia Realty Trust	Add 4.42%	3,021	0.03
☰	NAL - NewAlliance Bancshares, Inc.	Add 4.01%	5,687	0.11
☰	BELFA - Bel Fuse Inc.	Add 2.39%	251	0.00
☰	BPO - Brookfield Properties	Add 2.29%	1,933	0.02
☰	BELFB - Bel Fuse Inc.	Add 1.52%	559	0.00
☰	SNPS - Synopsys, Inc.	Add 1.28%	549	0.01
☰	NBR - Nabors Industries Ltd.	Add 1.21%	81	0.04
☰	HAYN - Haynes International Inc.	Add 1.11%	419	0.00
☰	SYBG - Sybase Inc.	Add 1.00%	250	0.00
☰	ACGL - Arch Capital Group Ltd.	Add 0.94%	9,513	0.00
☰	SSUP - Superior Industries International, Inc.	Add 0.48%	492	0.01
☰	BNY - The Bank of New York Mellon Cor	Buy	447,499	2.87
☰	BFH - Bread Financial Holdings, Inc.	Buy	196,313	0.57
☰	0000420W - Stoneleigh Partners Warrants WTS	Buy	1,348	0.50
☰	0860320D - Ceridian Corp. New	Buy	43,745	0.36
☰	NEM - Newmont Corp.	Buy	37,009	0.23
☰	CXG - CNX Gas Corp.	Buy	15,415	0.15
☰	0000084W - Kapstone Paper & Pkg Wts Wts	Buy	678	0.09
☰	0000365W - Geneva Acquisition Corp - Warrant WTS	Buy	125	0.09
☰	GAC - Geneva Acquisition Corp Unit UNIT	Buy	890	0.05
☰	1367506D - Forest City Enterprises Inc.	Buy	1,431	0.01
	Q2 2007
☰	IIIN - Insteel Industries Inc.	Add 371.33%	12,863	0.19
☰	HRLY - Herley Industries, Inc.	Add 151.38%	55,636	0.87
☰	BRNC - Bronco Drilling Co. Inc.	Add 136.60%	33,406	0.54
☰	JNC - Nuveen Investments, Inc.,	Add 111.30%	25,790	0.11
☰	WLK - Westlake Corp.	Add 106.74%	52,548	0.25
☰	8285437Q - Fording Canadian Coal Trust UNIT	Add 103.75%	44,603	0.36
☰	USG - USG Corporation	Add 60.02%	49,767	0.27
☰	FPO - First Potomac Realty Trust SBI	Add 55.07%	9,094	0.10
☰	BRSWQ - Bristow Group Inc.	Add 50.50%	29,326	0.16
☰	3321267Q - Abitibi Consolidated Inc.	Add 47.88%	51,833	4.72
☰	SYBG - Sybase Inc.	Add 33.58%	6,298	0.07
☰	FLA - Florida East Coast Industries, Inc.	Add 32.38%	1,117	0.00
☰	CFNB - California First National Bank	Add 32.08%	17	0.02
☰	LXK - Lexmark International Inc.	Add 31.83%	11,134	0.06
☰	SCMR - Sycamore Networks, Inc.	Add 30.01%	24,353	1.61
☰	INTC - Intel Corp.	Add 23.50%	23,714	0.27
☰	WIRE - Encore Wire Corporation	Add 23.13%	4,336	0.04
☰	TLAB - Tellabs, Inc.	Add 23.06%	24,003	0.59
☰	SKY - Champion Homes, Inc.	Add 22.26%	5,248	0.05
☰	MVC - MVC Capital Inc.	Add 20.19%	790	0.01
☰	0000329W - Transforma Acquisition Group WTS	Add 20.18%	22	0.00
☰	ECA - Encana Corporation	Add 19.38%	32,403	0.14
☰	EFII - Electronics for Imaging Inc.	Add 19.35%	17,790	0.17
☰	NAL - NewAlliance Bancshares, Inc.	Add 18.57%	22,210	0.40
☰	JRN - Journal Communications Inc.	Add 16.96%	10,020	0.20
☰	SUND - Suncor Energy Inc.	Add 16.62%	4,951	0.04
☰	BAM.A - Brookfield Asset Mgmt.	Add 16.01%	142,120	0.95
☰	KSWS - K-Swiss Inc.,	Add 15.70%	9,816	0.09
☰	CNX - CNX Resources Corp.	Add 15.52%	2,978	0.07
☰	DEL - Deltic Timber Corp.	Add 15.16%	9,050	0.04
☰	XEC-OLD - Cimarex Energy Co.	Add 14.99%	31,806	0.21
☰	PPDI - Pharmaceutical Product Dev. Inc.	Add 13.59%	8,426	0.06
☰	TD - The Toronto-Dominion Bank	Add 13.36%	264	0.00
☰	ASVI - A.S.V. Inc.	Add 13.24%	3,040	0.05
☰	PKE - Park Electrochemical Corporation	Add 12.82%	3,507	0.03
☰	MDC - MDC Holdings Inc.	Add 12.24%	11,381	0.06
☰	IM - Ingram Micro Inc.	Add 12.15%	3,717	0.05
☰	NBR - Nabors Industries Ltd.	Add 12.14%	722	0.29
☰	IBAAY - Industrias Bachoco, S.A. DE C.V.	Add 12.04%	2,632	0.02
☰	CVA - Covanta Holding Corporation	Add 11.14%	21,777	0.23
☰	TPGI - Thomas Properties Group Inc.	Add 10.82%	4,332	0.07
☰	ITG - Investment Technology Group	Add 10.53%	548	0.00
☰	STJ - St. Jude Medical Inc.	Add 10.32%	1,409	0.01
☰	PKX - Posco ADR	Add 9.97%	50,182	0.11
☰	BFSB - Brooklyn Federal Bancorp Inc.	Add 9.80%	876	0.02
☰	BORL - Borland Software Corporation	Add 9.05%	5,343	0.24
☰	LUNMF - Lundin Mining Corp	Add 8.52%	782	0.02
☰	CNXYY - CNX Gas Corp. - GDR 144A GDR 144A	Add 8.01%	1,216	0.01
☰	AH1 - Avatar Holdings Inc.	Add 7.70%	2,391	0.01
☰	ESIO - Electro Scientific Industries, Inc.	Add 6.97%	5,293	0.07
☰	GAC.U - Geneva Acquisition Corp Unit UNIT	Add 6.80%	66	0.00
☰	ALCO - Alico, Inc.	Add 6.38%	1,532	0.01
☰	CVCO - Cavco Industries, Inc.	Add 6.09%	712	0.01
☰	LM - Legg Mason Inc.	Add 5.87%	13,800	0.04
☰	TVH.U - Media & Entertainment Hlds, Inc. UNIT	Add 5.84%	258	0.01
☰	VSH - Vishay Intertechnology, Inc.	Add 5.62%	467	0.01
☰	QRR - Quadra Realty Trust Inc.	Add 5.59%	1,588	0.03
☰	MIR - Mirion Technologies, Inc.	Add 5.42%	1,887	0.01
☰	COHR - Coherent Corp.	Add 5.39%	2,700	0.01
☰	ACGL - Arch Capital Group Ltd.	Add 4.88%	47,250	0.02
☰	PFE - Pfizer Inc.	Add 4.31%	5,600	0.06
☰	FICO - Fair Isaac Corp.	Add 3.73%	486	0.00
☰	MRH - Montpelier Re Holdings Ltd.	Add 3.14%	1,373	0.02
☰	TRN - Trinity Industries, Inc.	Add 3.04%	5,603	0.01
☰	ALG - Alamo Group Inc.	Add 1.95%	1,334	0.01
☰	AVX - AVX Corporation	Add 0.00%	1	4.68
☰	AHX - ACA Capital Holdings Inc. ORD	Buy	53,755	1.23
☰	STAQU - Stoneleigh Partners Acq. Corp. UNIT	Buy	14,088	0.47
☰	DNN - Denison Mines Corp.	Buy	13,678	0.30
☰	HAYN - Haynes International Inc.	Buy	37,632	0.12
☰	3655488Q - Bois d Arc Energy, Inc.	Buy	657	0.01
☰	FO2 - Patriot Transportation Holdings	Buy	3,468	0.01
	Q1 2007
☰	WHG - Westwood Holdings Group Inc.	Add 562.91%	140,282	0.26
☰	TSG - Sabre Holdings Corp.	Add 112.82%	19,754	0.18
☰	MERC - Mercer Int'l Inc. SBI	Add 59.17%	5,441	0.13
☰	AEC - Associated Estates Realty Corp.	Add 50.00%	1	0.13
☰	8285437Q - Fording Canadian Coal Trust UNIT	Add 36.30%	11,450	0.15
☰	LAVA - Magma Design Automation, Inc.	Add 33.93%	7,231	0.18
☰	3321267Q - Abitibi Consolidated Inc.	Add 31.46%	25,906	2.75
☰	MIR - Mirion Technologies, Inc.	Add 28.16%	7,656	0.06
☰	CRESY - Cresud S.A. ADR	Add 27.25%	1,207	0.02
☰	BELFA - Bel Fuse Inc.	Add 26.11%	2,327	0.02
☰	XEC-OLD - Cimarex Energy Co.	Add 26.11%	43,917	0.35
☰	PKX - Posco ADR	Add 25.56%	102,492	0.29
☰	MTN - Vail Resorts, Inc.	Add 20.55%	18,839	0.10
☰	JRN - Journal Communications Inc.	Add 19.97%	9,834	0.22
☰	BORL - Borland Software Corporation	Add 16.62%	8,414	0.47
☰	TRN - Trinity Industries, Inc.	Add 15.93%	25,341	0.06
☰	ECA - Encana Corporation	Add 14.63%	21,334	0.13
☰	1367506D - Forest City Enterprises Inc.	Add 13.37%	204	0.00
☰	ALCO - Alico, Inc.	Add 13.23%	2,804	0.01
☰	FCYA - Forest City Enterprises Inc.	Add 11.59%	111,489	0.50
☰	CNXYY - CNX Gas Corp. - GDR 144A GDR 144A	Add 11.10%	1,516	0.02
☰	TRB - Tribune Co	Add 10.97%	1,244	0.01
☰	PKE - Park Electrochemical Corporation	Add 10.95%	2,700	0.03
☰	BELFB - Bel Fuse Inc.	Add 10.44%	3,991	0.03
☰	CFNB - California First National Bank	Add 10.42%	5	0.01
☰	TPGI - Thomas Properties Group Inc.	Add 10.16%	3,692	0.07
☰	OFLX - Omega Flex Inc.	Add 9.13%	680	0.01
☰	AKR - Acadia Realty Trust	Add 8.92%	5,703	0.06
☰	CVCO - Cavco Industries, Inc.	Add 8.50%	917	0.01
☰	HRLY - Herley Industries, Inc.	Add 8.26%	2,805	0.05
☰	LF - Leapfrog Enterprises Inc.	Add 6.96%	5,671	0.16
☰	BFSB - Brooklyn Federal Bancorp Inc.	Add 6.53%	548	0.01
☰	0814429D - GSI Group Inc.	Add 5.88%	1,656	0.05
☰	BAM.A - Brookfield Asset Mgmt.	Add 5.88%	49,314	0.28
☰	FLA - Florida East Coast Industries, Inc.	Add 5.18%	170	0.00
☰	PPDI - Pharmaceutical Product Dev. Inc.	Add 4.42%	2,623	0.02
☰	SWS - SWS Group Inc.	Add 4.24%	284	0.00
☰	STJ - St. Jude Medical Inc.	Add 2.87%	381	0.00
☰	CTO - CTO Realty Growth, Inc.	Add 2.81%	4,698	0.01
☰	MRH - Montpelier Re Holdings Ltd.	Add 2.32%	991	0.02
☰	SSUP - Superior Industries Int'l, Inc.	Add 2.23%	2,422	0.03
☰	PFE - Pfizer Inc.	Add 2.22%	2,823	0.03
☰	SYBG - Sybase Inc.	Add 1.87%	344	0.00
☰	LSBK - Lake Shore Bancorp Inc	Add 1.67%	14	0.00
☰	SCMR - Sycamore Networks, Inc.	Add 0.96%	771	0.06
☰	TD - The Toronto-Dominion Bank	Add 0.92%	18	0.00
☰	CVA - Covanta Holding Corporation	Add 0.64%	1,235	0.02
☰	JAKK - Jakks Pacific, Inc.	Add 0.39%	34	0.00
☰	QRR - Quadra Realty Trust Inc.	Buy	28,431	0.65
☰	MDC - MDC Holdings Inc.	Buy	92,979	0.57
☰	USG - USG Corporation	Buy	82,921	0.53
☰	BRSWQ - Bristow Group Inc.	Buy	58,074	0.47
☰	ASVI - A.S.V. Inc.	Buy	22,969	0.45
☰	BRNC - Bronco Drilling Co. Inc.	Buy	24,455	0.44
☰	WLK - Westlake Corp.	Buy	49,232	0.27
☰	WIRE - Encore Wire Corporation	Buy	18,745	0.22
☰	TVH.U - Media & Entertainment Holdings, Inc.UNIT	Buy	4,417	0.16
☰	MVC - MVC Capital Inc.	Buy	3,913	0.07
☰	IIIN - Insteel Industries Inc.	Buy	3,464	0.06
☰	GAC.U - Geneva Acquisition Corp Unit UNIT	Buy	971	0.05
☰	0000329W - Transforma Acquisition Group WTS	Buy	109	0.03
	Q4 2006
☰	CTLFQ - Catalyst Paper Corp.	Buy	234,760	19.39
☰	3321267Q - Abitibi Consolidated Inc.	Buy	82,351	7.65
☰	SCMR - Sycamore Networks, Inc.	Buy	80,387	5.11
☰	AVX - AVX Corporation	Buy	0	4.24
☰	BAM.A - Brookfield Asset Mgmt.	Buy	838,372	4.16
☰	FCYA - Forest City Enterprises Inc.	Buy	962,222	3.93
☰	JOE - The St. Joe Co.	Buy	777,350	3.47
☰	TLAB - Tellabs, Inc.	Buy	108,131	2.52
☰	NBR - Nabors Industries Ltd.	Buy	6,047	2.42
☰	BORL - Borland Software Corporation	Buy	50,617	2.22
☰	CVA - Covanta Holding Corporation	Buy	194,324	2.11
☰	LF - Leapfrog Enterprises Inc.	Buy	81,518	2.05
☰	NAL - NewAlliance Bancshares, Inc.	Buy	129,253	1.88
☰	GMST - Gemstar-TV Guide International, Inc.	Buy	1,939,423	1.75
☰	2307532Q - American Power Conversion Corp	Buy	185,599	1.45
☰	8394653Q - Prologis Trust SBI	Buy	351,997	1.38
☰	SSUP - Superior Industries International, Inc.	Buy	108,398	1.34
☰	INTC - Intel Corp.	Buy	104,342	1.23
☰	PKX - Posco ADR	Buy	401,003	1.16
☰	PFE - Pfizer Inc.	Buy	127,232	1.11
☰	XEC-OLD - Cimarex Energy Co.	Buy	168,224	1.10
☰	TRC - Tejon Ranch Co.	Buy	263,368	1.06
☰	ESIO - Electro Scientific Industries, Inc.	Buy	86,203	1.02
☰	MBI - MBIA Inc.	Buy	303,299	0.99
☰	EFII - Electronics for Imaging Inc.	Buy	106,920	0.96
☰	JAKK - Jakks Pacific, Inc.	Buy	8,732	0.95
☰	JRN - Journal Communications Inc.	Buy	49,240	0.93
☰	CMVT - Comverse Technology, Inc.	Buy	75,939	0.86
☰	WATS - Watson Pharmaceuticals Inc	Buy	214,869	0.81
☰	ECA - Encana Corporation	Buy	145,836	0.76
☰	ALG - Alamo Group Inc.	Buy	70,976	0.72
☰	0814429D - GSI Group Inc.	Buy	28,170	0.69
☰	AKR - Acadia Realty Trust	Buy	63,938	0.61
☰	LM - Legg Mason Inc.	Buy	243,133	0.61
☰	BPO - Brookfield Properties	Buy	97,196	0.59
☰	LAVA - Magma Design Automation, Inc.	Buy	21,314	0.57
☰	KSWS - K-Swiss Inc.,	Buy	70,858	0.55
☰	MRH - Montpelier Re Holdings Ltd.	Buy	42,701	0.55
☰	TPGI - Thomas Properties Group Inc.	Buy	36,349	0.54
☰	HRLY - Herley Industries, Inc.	Buy	33,948	0.50
☰	RDN - Radian Group Inc.	Buy	113,834	0.50
☰	2857666Q - Bandag Incorporated	Buy	103,265	0.49
☰	MTN - Vail Resorts, Inc.	Buy	91,666	0.49
☰	PRXL - Parexel International Corporation	Buy	55,477	0.46
☰	SNPS - Synopsys, Inc.	Buy	50,223	0.45
☰	PPDI - Pharmaceutical Product Development Inc.	Buy	59,357	0.44
☰	CCRN - Cross Country Healthcare, Inc.	Buy	38,666	0.42
☰	LSE - Capital Lease Funding Inc.	Buy	20,414	0.42
☰	ACGL - Arch Capital Group Ltd.	Buy	1,039,374	0.41
☰	TRN - Trinity Industries, Inc.	Buy	159,099	0.39
☰	IM - Ingram Micro Inc.	Buy	32,413	0.38
☰	8285437Q - Fording Canadian Coal Trust UNIT	Buy	31,542	0.36
☰	CNX - CNX Resources Corp.	Buy	19,970	0.36
☰	AEC - Associated Estates Realty Corporation	Buy	2	0.32
☰	VNO - Vornado Realty Trust	Buy	222,697	0.32
☰	ACPIQ - Anthracite Capital Inc.	Buy	15,196	0.29
☰	CYRV - Crystal River Capital Inc.	Buy	31,482	0.29
☰	PSB - PS Business Parks, Inc.	Buy	85,142	0.29
☰	DEL - Deltic Timber	Buy	64,620	0.28
☰	SUND - Suncor Energy Inc.	Buy	30,927	0.28
☰	1409833D - Columbia Equity Trust Incorporated REIT	Buy	21,773	0.27
☰	BELFB - Bel Fuse Inc.	Buy	38,223	0.26
☰	WHG - Westwood Holdings Group Inc.	Buy	24,921	0.26
☰	TCADR - Telecom Corp of New Zealand ADR	Buy	27,109	0.24
☰	PKE - Park Electrochemical Corporation	Buy	24,657	0.23
☰	OLP - One Liberty Properties	Buy	23,577	0.22
☰	LXK - Lexmark International Inc.	Buy	64,950	0.21
☰	MIR - Mirion Technologies, Inc.	Buy	27,188	0.21
☰	IRS - IRSA Inversiones y Representaciones Sociedad Anónima	Buy	12,572	0.20
☰	CITGQ - CIT Group Inc.	Buy	43,885	0.19
☰	COHR - Coherent Corp.	Buy	50,906	0.19
☰	MERC - Mercer Int'l Inc. SBI	Buy	9,196	0.19
☰	TXU - TXU Corporation	Buy	43,368	0.19
☰	IBAAY - Industrias Bachoco, S.A. DE C.V.	Buy	21,869	0.18
☰	SYBG - Sybase Inc.	Buy	18,413	0.18
☰	ANLD - American Land Lease Inc.	Buy	18,953	0.17
☰	SHLDQ - Sears Holding Corporation	Buy	116,143	0.17
☰	AH1 - Avatar Holdings Inc.	Buy	52,731	0.16
☰	BFSB - Brooklyn Federal Bancorp Inc.	Buy	8,388	0.15
☰	CTO - CTO Realty Growth, Inc.	Buy	167,290	0.15
☰	SKY - Champion Homes, Inc.	Buy	25,095	0.15
☰	VSH - Vishay Intertechnology, Inc.	Buy	8,366	0.15
☰	FPO - First Potomac Realty Trust SBI	Buy	16,866	0.14
☰	CNXYY - CNX Gas Corp. - GDR 144A GDR 144A	Buy	13,663	0.13
☰	TSG - Sabre Holdings Corp.	Buy	17,509	0.13
☰	JNC - Nuveen Investments, Inc.,	Buy	25,416	0.12
☰	LUNMF - Lundin Mining Corp	Buy	55,002	0.12
☰	IDCG - IDT Corporation	Buy	6,085	0.11
☰	STC - Stewart Information Services Corp.	Buy	20,804	0.11
☰	SXI - Standex International Corp.	Buy	14,477	0.11
☰	ALCO - Alico, Inc.	Buy	21,190	0.10
☰	BKE - The Buckle, Inc.	Buy	48,907	0.10
☰	OFLX - Omega Flex Inc.	Buy	7,447	0.09
☰	STJ - St. Jude Medical Inc.	Buy	13,271	0.09
☰	TRB - Tribune Co	Buy	11,341	0.09
☰	FICO - Fair Isaac Corp.	Buy	13,702	0.08
☰	BELFA - Bel Fuse Inc.	Buy	8,913	0.07
☰	CVCO - Cavco Industries, Inc.	Buy	10,783	0.07
☰	LNN - Lindsay Manufacturing Co.	Buy	9,772	0.07
☰	CRESY - Cresud S.A. ADR	Buy	4,430	0.05
☰	DPHIQ - Delphi Corporation	Buy	764	0.05
☰	CFNB - California First National Bank	Buy	48	0.04
☰	SWS - SWS Group Inc.	Buy	6,697	0.04
☰	CAV - Cavalier Homes Inc.	Buy	528	0.03
☰	ITG - Investment Technology Group.	Buy	5,694	0.03
☰	ALOG - Analogic Corporation	Buy	4,365	0.02
☰	HTCH - Hutchinson Technology Inc.	Buy	2,358	0.02
☰	1367506D - Forest City Enterprises Inc.	Buy	1,526	0.01
☰	CLT - Clifton Savings Bancorp Inc.	Buy	610	0.01
☰	FLA - Florida East Coast Industries, Inc.	Buy	3,280	0.01
☰	LSBK - Lake Shore Bancorp Inc	Buy	839	0.01
☰	TMP - Tompkins Trustco Inc.	Buy	2,735	0.01
☰	YCC - Yankee Candle Co	Buy	1,573	0.01
☰	SN8 - Spirit Finance Corporation	Buy	136	0.00
☰	TD - The Toronto-Dominion Bank	Buy	1,958	0.00
	Q2 2006
☰	TSG - . Cl A	Add 1165.58%	8,229	0.10
☰	MGYR - tion, Inc.	Add 135.69%	403	0.01
☰	KE6 - rp.	Add 124.87%	6,979	0.13
☰	SKY - Champion Homes, Inc.	Add 91.71%	12,759	0.08
☰	IM - S.a. De C.v.	Add 70.37%	11,915	0.17
☰	HDLM - Inc.	Add 60.20%	6,499	0.21
☰	MTN - Vail Resorts, Inc.	Add 48.26%	23,452	0.17
☰	MRH - ngs Ltd.	Add 44.63%	11,980	0.18
☰	LXK - al Inc. CL A	Add 43.44%	18,582	0.09
☰	9895616Q - any	Add 40.55%	37,478	0.22
☰	SF6 - al Corporation	Add 37.63%	5,246	0.06
☰	TXU - ny	Add 33.58%	12,024	0.05
☰	2857666Q - no Exportaciones, S.A.	Add 31.32%	18,747	0.14
☰	0814429D - Inc.	Add 30.58%	4,635	0.14
☰	DCH - Dauch Corp.	Add 30.48%	11,387	0.18
☰	NW1A - fe Insurance Co.	Add 28.70%	8,247	0.01
☰	KSWS - rp.	Add 27.90%	12,622	0.13
☰	MEL - rporation	Add 26.79%	50,414	0.39
☰	LAVA - tion, Inc.	Add 23.16%	3,160	0.11
☰	ALCO - , Inc.	Add 21.28%	4,047	0.02
☰	CFNB - tional Bank	Add 19.51%	8	0.01
☰	CNXYY - 144a	Add 15.38%	2,143	0.02
☰	DEL - on	Add 14.86%	6,455	0.03
☰	HVT - Haverty Furniture Companies, Inc.	Add 13.84%	4,467	0.08
☰	BORL - rporation	Add 13.46%	5,660	0.28
☰	ECA - ging Inc.	Add 12.55%	19,174	0.10
☰	ALEX - , Inc.	Add 12.50%	12,621	0.08
☰	BKE - The Buckle, Inc.	Add 12.34%	3,136	0.01
☰	ACPIQ - Inc.	Add 11.89%	1,554	0.03
☰	GMST - ternational, Inc.	Add 11.67%	65	0.00
☰	MVK - ration	Add 11.57%	14,346	0.06
☰	BAM.A - mt. CL A	Add 11.51%	76,895	0.50
☰	LF - s Inc.	Add 10.66%	8,746	0.23
☰	NAL - res, Inc.	Add 10.03%	11,122	0.21
☰	PFE - Pfizer Inc.	Add 9.42%	9,787	0.10
☰	VSH - Vishay Intertechnology, Inc.	Add 8.29%	775	0.01
☰	BELFB - Bel Fuse Inc.	Add 8.26%	2,854	0.02
☰	FPO - y Trust	Add 7.62%	1,222	0.01
☰	CSWC - ng Inc.	Add 7.61%	19,449	0.00
☰	MIR - Mirion Technologies, Inc.	Add 7.20%	1,550	0.02
☰	PRXL - al Corporation	Add 6.86%	5,789	0.05
☰	SYBG - International, Inc.	Add 6.35%	872	0.01
☰	IBAAY - S.a. De C.v.	Add 6.03%	759	0.01
☰	CVA - poration	Add 5.88%	8,640	0.13
☰	ADC - Agree Realty Corp.	Add 5.81%	25	0.00
☰	SSUP - International, Inc.	Add 5.71%	6,172	0.09
☰	PKX - any	Add 5.67%	17,529	0.07
☰	1367506D - ises CL B	Add 5.52%	68	0.00
☰	ORGN - c.	Add 5.52%	26	0.03
☰	PSB - Inc.	Add 5.49%	6,664	0.03
☰	OFLX - Company	Add 5.25%	360	0.00
☰	SUND - Services	Add 5.07%	1,546	0.02
☰	FCYA - ises CL A	Add 4.51%	35,067	0.19
☰	JOE - The St. Joe Co.	Add 4.22%	27,731	0.16
☰	SAFT - oup, Inc.	Add 4.13%	330	0.00
☰	ABKFQ - up	Add 3.54%	1,863	0.01
☰	LSE - ng Inc.	Add 3.43%	685	0.02
☰	PHH - uct Development Inc.	Add 3.14%	484	0.00
☰	RJF - Raymond James Financial, Inc.	Add 2.40%	2,616	0.02
☰	MPT - Medical Properties Trust, Inc.	Add 2.22%	18	0.00
☰	ITG - gy Group.	Add 2.13%	141	0.00
☰	0220142Q - st Incorporated	Add 2.10%	1,720	0.01
☰	ACGL - Arch Capital Group Ltd.	Add 2.00%	19,287	0.01
☰	IRS - IRSA Inversiones y Representaciones Sociedad Anónima	Add 1.93%	148	0.00
☰	VNO - Vornado Realty Trust	Add 1.74%	3,622	0.01
☰	BBT - corp Inc.	Add 1.55%	211	0.00
☰	RDN - Radian Group Inc.	Add 1.37%	1,898	0.01
☰	AKR - d Inc.	Add 0.88%	512	0.01
☰	WHG - roup Inc.	Add 0.74%	153	0.00
☰	1041267D - Inc.	Add 0.40%	4	0.00
☰	PPDI - uct Development Inc.	Add 0.13%	82	0.00
☰	LNN - ng Co.	Add 0.11%	35	0.00
☰	INTC - Intel Corp.	Buy	102,526	1.44
☰	JRN - ons Inc. Cl A	Buy	22,980	0.54
☰	MSFT - Microsoft Corp.	Buy	46,600	0.53
☰	XEC-OLD - physique-SP ADR	Buy	83,665	0.52
☰	TCADR - Zealand ADR	Buy	19,545	0.26
☰	TRB - ny	Buy	21,509	0.18
☰	IDCG - C	Buy	5,937	0.12
☰	SAFM - .	Buy	2,505	0.02
☰	ZLC - .	Buy	482	0.01
☰	BOL - no Exportaciones, S.A.	Buy	629	0.00
	Q1 2006
☰	IRS - IRSA Inversiones y Representaciones Sociedad Anónima	Add 74.79%	3,278	0.09
☰	TSG - Cl A	Add 72.20%	296	0.00
☰	BKE - The Buckle, Inc.	Add 59.25%	9,454	0.03
☰	MRH - gs Ltd.	Add 59.22%	9,983	0.19
☰	DEL - n	Add 53.88%	15,212	0.08
☰	LXK - l Inc. CL A	Add 45.85%	13,447	0.09
☰	HRLY - nc.	Add 45.00%	7,067	0.10
☰	LAVA - ion, Inc.	Add 44.71%	4,216	0.15
☰	RTI - tals, Inc.	Add 44.53%	1,935	0.01
☰	2857666Q - o Exportaciones, S.A.	Add 43.78%	18,222	0.13
☰	LNN - g Co.	Add 40.87%	9,113	0.10
☰	ITG - y Group.	Add 40.52%	1,907	0.01
☰	SHLDQ - ation	Add 38.95%	40,695	0.09
☰	BFSB - corp Inc.	Add 37.65%	2,112	0.05
☰	TLAB - nc.	Add 36.11%	41,813	0.81
☰	3307381Q - y	Add 35.73%	60,867	0.52
☰	MVK - ation	Add 35.12%	32,240	0.19
☰	PAAS - Pan American Silver Corp.	Add 34.29%	84	0.00
☰	CRESY - poration	Add 31.98%	885	0.02
☰	ALOG - rsion Corp	Add 31.95%	1,513	0.01
☰	LF - Inc.	Add 31.86%	19,831	0.57
☰	PKX - ny	Add 31.40%	73,869	0.35
☰	NBR - Nabors Industries Ltd.	Add 27.63%	1,327	0.14
☰	FLA - ndustries, Inc.	Add 27.19%	634	0.00
☰	SKY - Champion Homes, Inc.	Add 26.01%	2,872	0.02
☰	SWS - International, Inc.	Add 24.87%	977	0.01
☰	FCYA - ses Inc. CL A	Add 24.05%	150,590	0.98
☰	JAKK - oration	Add 24.01%	1,932	0.22
☰	JLL - Jones Lang LaSalle Inc.	Add 23.99%	12,416	0.05
☰	CNX - CNX Resources Corp.	Add 23.75%	6,033	0.07
☰	TRC - nc.	Add 22.40%	41,814	0.25
☰	SUND - Services	Add 21.87%	5,469	0.07
☰	TRN - Trinity Industries, Inc.	Add 18.76%	52,742	0.07
☰	COHR - Coherent Corp.	Add 18.68%	11,564	0.05
☰	KSWS - p.	Add 18.02%	6,907	0.07
☰	AKR - Inc.	Add 17.74%	8,745	0.11
☰	NAL - es, Inc.	Add 17.43%	16,459	0.35
☰	WHG - oup Inc.	Add 17.06%	3,006	0.05
☰	BPO - s	Add 15.74%	14,515	0.13
☰	ANLD - Inc.	Add 15.55%	2,780	0.03
☰	8394653Q - rust	Add 14.40%	49,485	0.28
☰	SXI - Standex International Corp.	Add 14.05%	1,874	0.02
☰	1367506D - se CL B	Add 13.96%	151	0.00
☰	PSB - nc.	Add 13.66%	14,579	0.08
☰	PKE - Corporation	Add 13.55%	3,400	0.04
☰	JNC - Inc., CL A	Add 12.97%	2,709	0.02
☰	BELFB - Bel Fuse Inc.	Add 12.57%	3,857	0.03
☰	SNPS - Synopsys, Inc.	Add 12.41%	3,892	0.05
☰	ALCO - Inc.	Add 12.37%	2,094	0.01
☰	PPDI - ct Development Inc.	Add 11.74%	6,792	0.06
☰	AH1 - ealty Corporation	Add 10.92%	4,424	0.02
☰	CVA - oration	Add 10.69%	14,196	0.26
☰	TQNT - or, Inc.	Add 10.55%	235	0.01
☰	TPGI - oup Inc.	Add 10.25%	2,869	0.06
☰	8285437Q - l Trust	Add 9.98%	5,681	0.05
☰	PRXL - l Corporation	Add 9.20%	7,116	0.08
☰	BAM.A - t. CL A	Add 9.10%	55,735	0.31
☰	PFE - Pfizer Inc.	Add 8.36%	8,020	0.09
☰	ECA - ing Inc.	Add 7.99%	11,304	0.07
☰	OLP - es	Add 7.72%	1,473	0.02
☰	TMP - .	Add 7.49%	202	0.00
☰	SN8 - ration	Add 7.26%	9	0.00
☰	2307532Q - rsion Corp	Add 7.12%	7,739	0.10
☰	ALG - Alamo Group Inc.	Add 7.06%	4,536	0.06
☰	NTLIV - rces, Inc.	Add 6.85%	98	0.00
☰	FPO - Trust	Add 6.20%	937	0.01
☰	HTCH - y Inc.	Add 6.04%	172	0.00
☰	SCMR - nc.	Add 5.71%	4,803	0.31
☰	TD - The Toronto-Dominion Bank	Add 5.68%	98	0.00
☰	LSE - g Inc.	Add 5.60%	1,059	0.03
☰	FHR - sorts Inc	Add 5.40%	4,557	0.03
☰	CMOS - poration	Add 4.96%	2,498	0.10
☰	ACPIQ - nc.	Add 4.27%	536	0.01
☰	EFII - ing Inc.	Add 3.75%	3,833	0.04
☰	VSH - Vishay Intertechnology, Inc.	Add 3.49%	315	0.01
☰	ACGL - Arch Capital Group Ltd.	Add 3.33%	31,122	0.02
☰	SSUP - International, Inc.	Add 3.25%	3,404	0.05
☰	LM - Inc.	Add 2.52%	7,365	0.02
☰	CITGQ - hysique-SP ADR	Add 2.30%	1,250	0.01
☰	0814429D - nc.	Add 1.75%	260	0.01
☰	RDN - Radian Group Inc.	Add 1.61%	2,199	0.01
☰	ACMTA - Inc.	Add 1.22%	41	0.00
☰	IM - S.a. De C.v.	Add 0.35%	59	0.00
☰	AVX - ealty Corporation	Add 0.00%	1	5.36
☰	3321267Q - Inc.	Buy	62,616	4.63
☰	BORL - poration	Buy	42,065	2.39
☰	BRKL - nc.	Buy	84,863	1.68
☰	MEL - poration	Buy	188,150	1.62
☰	AFR - ealty Trust	Buy	45,375	1.19
☰	0220142Q - t Inc.	Buy	81,953	0.88
☰	RJF - Raymond James Financial, Inc.	Buy	108,903	0.75
☰	ORGN - .	Buy	471	0.71
☰	HVT - Haverty Furniture Companies, Inc.	Buy	32,277	0.69
☰	AMAT - Applied Materials, Inc.	Buy	38,169	0.67
☰	ALEX - Inc.	Buy	100,944	0.65
☰	9895616Q - ny	Buy	92,432	0.56
☰	MTN - Vail Resorts, Inc.	Buy	48,593	0.39
☰	1409833D - t Inc.	Buy	20,124	0.35
☰	HDLM - nc.	Buy	10,795	0.34
☰	MIR - Mirion Technologies, Inc.	Buy	21,530	0.26
☰	TDW - Tidewater Inc.	Buy	1,453	0.26
☰	RSREY - nc.	Buy	14,368	0.25
☰	CNQ - Canadian Natural Resources Ltd.	Buy	159,537	0.22
☰	ABKFQ - p	Buy	52,628	0.20
☰	CNXYY - 144a	Buy	13,931	0.16
☰	FFG - Inc.	Buy	16,753	0.15
☰	SF6 - l Corporation	Buy	13,942	0.15
☰	JEF - Jefferies Financial Group Inc.	Buy	60,029	0.14
☰	BBT - orp Inc.	Buy	13,655	0.12
☰	DSCP - n	Buy	15,149	0.12
☰	KE6 - p.	Buy	5,589	0.12
☰	OFLX - Company	Buy	6,860	0.11
☰	NTL - Pfd B	Buy	3,288	0.10
☰	BLX - o Exportaciones, S.A.	Buy	4,848	0.09
☰	CSWC - g Inc.	Buy	255,522	0.08
☰	SAFT - up, Inc.	Buy	7,991	0.05
☰	NW1A - e Insurance Co.	Buy	28,737	0.04
☰	1707592D - nc. PA	Buy	877	0.02
☰	BED - estors	Buy	2,045	0.02
☰	CLT - orp Inc.	Buy	535	0.02
☰	MPT - Medical Properties Trust, Inc.	Buy	810	0.02
☰	WTM - White Mountains Insurance Group, Ltd.	Buy	36,383	0.02
☰	1041267D - nc.	Buy	1,000	0.01
☰	JJSF - J&J Snack Foods Corp.	Buy	603	0.01
☰	MGYR - ion, Inc.	Buy	297	0.01
	Q4 2005
☰	PFE - Pfizer Inc.	Add 361.87%	75,121	0.97
☰	0814429D - GSI Group Inc.	Add 230.63%	10,390	0.30
☰	BELFA - Bel Fuse Inc.	Add 195.59%	6,136,560	0.53
☰	CVCO - Cavco Industries, Inc.	Add 174.44%	1,465,523	1.35
☰	FDT - First Trust Developed Markets Ex-US AlphaDEX Fund	Add 147.58%	6,715	0.18
☰	VNO - Vornado Realty Trust	Add 145.49%	272,053	0.85
☰	CFNB - California First National Bank	Add 85.59%	79,289	0.33
☰	2925169Q - GEAC Computer Corporation Ltd.	Add 79.86%	68,886	1.99
☰	CCRN - Cross Country Healthcare, Inc.	Add 68.30%	13,538,106	1.20
☰	DCH - Dauch Corp.	Add 63.24%	14,562	0.25
☰	MVK - Maverick Tube Corporation	Add 63.15%	35,532	0.28
☰	CNX - CNX Resources Corp.	Add 60.58%	9,581	0.11
☰	BKE - The Buckle, Inc.	Add 57.43%	5,821	0.02
☰	DEL - Deltic Timber	Add 45.59%	8,841	0.05
☰	HRLY - Herley Industries, Inc.	Add 41.51%	4,607	0.09
☰	2857666Q - Bandag, Incorporated	Add 39.72%	11,833	0.09
☰	TSG - Sabre Holdings Corp.	Add 34.87%	106	0.00
☰	JAKK - Jakks Pacific, Inc.	Add 29.70%	1,843	0.28
☰	SWS - SWS Group Inc.	Add 27.70%	852	0.01
☰	FHR - Fairmont Hotels & Resorts Inc	Add 26.96%	17,921	0.13
☰	TQNT - Triquint Semiconductor, Inc.	Add 26.45%	466	0.03
☰	AKR - Acadia Realty Trust	Add 24.18%	9,596	0.15
☰	VSH - Vishay Intertechnology, Inc.	Add 23.22%	1,703	0.04
☰	TCADR - Telecom Corp of New Zealand ADR	Add 22.38%	3,422,836	0.41
☰	ACMTA - Acmat Corp.- Class A	Add 19.75%	556	0.01
☰	ITG - Investment Technology Group.	Add 19.72%	775	0.01
☰	JOE - The St. Joe Co.	Add 19.53%	108,976	0.51
☰	IM - Ingram Micro Inc.	Add 16.44%	2,382	0.04
☰	2900474Q - Criimi Mae Inc.	Add 16.15%	4,083	0.07
☰	KSWS - K-Swiss Incl	Add 15.69%	5,199	0.05
☰	EFII - Electronics for Imaging	Add 15.09%	13,416	0.16
☰	3026360Q - Scientific-Atlanta, Inc.	Add 14.82%	1,181	0.01
☰	SCMR - Sycamore Networks, Inc.	Add 13.88%	10,264	0.75
☰	CITGQ - CIT Group Inc.	Add 12.66%	6,112	0.04
☰	CVA - Covanta Holding Corporation	Add 12.14%	14,371	0.30
☰	ALCO - Alico, Inc.	Add 11.46%	1,740	0.01
☰	SNPS - Synopsys, Inc.	Add 11.30%	3,184	0.05
☰	PSB - PS Business Parks, Inc.	Add 10.83%	10,426	0.07
☰	RDN - Radian Group Inc.	Add 9.23%	11,506	0.06
☰	ACGL - Arch Capital Group Ltd.	Add 9.08%	77,670	0.05
☰	HTCH - Hutchinson Technology Inc.	Add 8.92%	233	0.00
☰	OME - Omega Protein Corporation	Add 8.75%	504	0.01
☰	TRN - Trinity Industries, Inc.	Add 8.31%	21,560	0.04
☰	JNC - Nuveen Investments, Inc.,	Add 8.20%	1,583	0.01
☰	LM - Legg Mason Inc.	Add 8.08%	21,852	0.06
☰	PPDI - Pharmaceutical Product Development Inc.	Add 7.72%	4,149	0.02
☰	NAL - NewAlliance Bancshares, Inc.	Add 7.50%	6,587	0.14
☰	PAAS - Pan American Silver Corp.	Add 7.46%	17	0.00
☰	COHR - Coherent Corp.	Add 7.30%	4,212	0.02
☰	STJ - St. Jude Medical Inc.	Add 7.27%	1,235	0.01
☰	TD - The Toronto-Dominion Bank	Add 6.82%	110	0.00
☰	LAVA - Magma Design Automation, Inc.	Add 6.74%	595	0.02
☰	NTLIV - NTL Inc.	Add 6.64%	89	0.00
☰	ESIO - Electro Scientific Industries, Inc.	Add 6.29%	5,809	0.08
☰	8394653Q - Prologis Trust SBI	Add 5.50%	17,922	0.12
☰	SXI - Standex International Corp.	Add 5.43%	687	0.01
☰	LSE - Capital Lease Funding Inc.	Add 4.87%	878	0.03
☰	IBAAY - Industrias Bachoco, S.A. DE C.V.	Add 4.66%	616	0.01
☰	NBR - Nabors Industries Ltd.	Add 4.60%	211	0.02
☰	SUND - Suncor Energy Inc.	Add 4.17%	1,000	0.02
☰	CTO - CTO Realty Growth, Inc.	Add 3.96%	6,410	0.01
☰	WHG - Westwood Holdings Group Inc.	Add 3.87%	657	0.01
☰	3307381Q - Trammell Crow Company	Add 3.77%	6,194	0.08
☰	ALG - Alamo Group Inc.	Add 3.75%	2,320	0.04
☰	TMP - Tompkins Trustco Inc.	Add 3.57%	93	0.00
☰	FPO - First Potomac Realty Trust SBI	Add 3.50%	511	0.01
☰	SSUP - Superior Industries International, Inc.	Add 2.97%	3,016	0.04
☰	PHH - PHH Corporation	Add 2.85%	443	0.01
☰	GMST - Gemstar-TV Guide International, Inc.	Add 2.76%	52,054	0.06
☰	TLAB - Tellabs, Inc.	Add 2.26%	2,555	0.07
☰	BPO - Brookfield Properties	Add 2.08%	1,881	0.02
☰	SYBG - Sybase Inc.	Add 1.12%	157	0.00
☰	SN8 - Spirit Finance Corporation	Add 0.81%	1	0.00
☰	CMVT - Comverse Technology, Inc.	Add 0.35%	365	0.00
☰	IRS - IRSA Inversiones y Representaciones Sociedad Anónima	Add 0.25%	11	0.00
☰	ADC - Agree Realty Corp.	Add 0.03%	1,167	0.00
☰	BAM.A - Brookfield Asset Mgmt.	Buy	612,488	3.85
☰	LXK - Lexmark International Inc.	Buy	29,328	0.21
☰	BFSB - Brooklyn Federal Bancorp Inc.	Buy	5,610	0.16
	Q3 2005
☰	BELFA - Bel Fuse Inc.	Add 41951.72%	3,130,018	0.78
☰	CCRN - Cross Country Healthcare, Inc.	Add 36227.77%	19,766,595	3.05
☰	TCADR - Telecom Corp of New Zealand Ltd	Add 1018.07%	13,928,617	2.10
☰	PFE - Pfizer Inc.	Add 279.58%	15,290	0.19
☰	8394653Q - Prologis Trust	Add 209.14%	220,431	1.63
☰	MVK - Maverick Tube Corp.	Add 137.28%	32,551	0.36
☰	2925169Q - GEAC Computer Corp LTD	Add 108.92%	44,969	1.58
☰	LSE - Capital Lease Funding Inc.	Add 85.94%	8,334	0.26
☰	NTLIV - NTL Inc.	Add 70.39%	554	0.00
☰	LAVA - Magma Design Automation Inc.	Add 69.04%	3,608	0.15
☰	CNX - CNX Resources Corp.	Add 62.03%	6,055	0.07
☰	BPPNZ - BPP Liquidating Trust	Add 45.35%	39	0.10
☰	ECA - Encana Corp.	Add 41.23%	53,571	0.30
☰	ITG - Investment Technology Group.	Add 40.85%	1,140	0.01
☰	HAYN - Haynes International Inc.	Add 38.58%	3,009	0.04
☰	8285437Q - Fording Canadian Coal Trust	Add 38.48%	24,795	0.19
☰	CFNB - California First National Bank	Add 35.73%	24,386	0.20
☰	LF - Leapfrog Enterprises Inc.	Add 34.52%	18,186	0.40
☰	IBAAY - Industrias Bachoco, S.A. DE C.V.	Add 31.46%	3,166	0.05
☰	PKX - Posco ADR	Add 29.62%	56,490	0.33
☰	FCYA - Forest City Enterprise	Add 28.47%	139,678	1.20
☰	SYBG - Sybase Inc.	Add 27.99%	3,075	0.04
☰	SUND - Suncor Energy Inc.	Add 27.90%	5,237	0.08
☰	2857666Q - Bandag, Incorporated	Add 27.58%	6,440	0.05
☰	DEL - Deltic Timber	Add 26.56%	4,070	0.03
☰	TRN - Trinity Industries, Inc.	Add 25.39%	52,550	0.10
☰	ESIO - Electro Scientific Industries, Inc.	Add 24.82%	18,363	0.27
☰	2245546Q - Advanced Power Technology	Add 23.80%	894	0.03
☰	IM - Ingram Micro Inc.	Add 23.66%	2,773	0.05
☰	PPDI - Pharmaceutical Product Development Inc.	Add 22.72%	9,949	0.06
☰	STC - Stewart Information Services Corp.	Add 21.90%	4,414	0.03
☰	TLAB - Tellabs, Inc.	Add 21.02%	19,666	0.61
☰	SNPS - Synopsys, Inc.	Add 19.83%	4,662	0.08
☰	BELFB - Bel Fuse Inc.	Add 19.14%	5,497	0.05
☰	ANLD - American Land Lease Inc.	Add 18.74%	2,827	0.04
☰	FHR - Fairmont Hotels & Resorts Inc	Add 17.90%	10,090	0.10
☰	AH1 - Avatar Holdings Inc.	Add 17.69%	6,571	0.04
☰	NBR - Nabors Industries Ltd.	Add 17.66%	689	0.08
☰	HRLY - Herley Industries, Inc.	Add 15.40%	1,481	0.03
☰	PSB - PS Business Parks, Inc.	Add 14.01%	11,838	0.08
☰	3026360Q - Scientific-Atlanta, Inc.	Add 12.74%	901	0.01
☰	BPO - Brookfield Properties	Add 12.60%	10,103	0.11
☰	SCMR - Sycamore Networks, Inc.	Add 12.02%	7,930	0.69
☰	NAL - NewAlliance Bancshares, Inc.	Add 11.71%	9,207	0.21
☰	RDN - Radian Group Inc.	Add 11.34%	12,701	0.08
☰	KSWS - K-Swiss Incl	Add 10.70%	3,202	0.04
☰	TD - The Toronto-Dominion Bank	Add 10.55%	154	0.00
☰	CMVT - Comverse Technology, Inc.	Add 10.46%	9,750	0.12
☰	TXU - TXU Corp.	Add 10.14%	743,911	0.03
☰	PHH - PHH Corporation	Add 10.13%	1,430	0.02
☰	EFII - Electronics for Imaging	Add 10.08%	8,144	0.12
☰	2307532Q - American Power Conversion Corp	Add 9.47%	11,049	0.14
☰	ACGL - Arch Capital Group Ltd.	Add 8.92%	70,056	0.05
☰	VNO - Vornado Realty Trust	Add 8.59%	14,790	0.04
☰	CVCO - Cavco Industries, Inc.	Add 7.52%	58,749	0.15
☰	AKR - Acadia Realty Trust	Add 7.39%	2,732	0.05
☰	STJ - St. Jude Medical Inc.	Add 7.32%	1,158	0.01
☰	TPGI - Thomas Properties Group INC	Add 7.22%	2,033	0.05
☰	ALG - Alamo Group Inc.	Add 6.53%	3,796	0.06
☰	PKE - Park Electrochemical Corp.	Add 5.75%	1,400	0.02
☰	TQNT - Triquint Semiconductor, Inc.	Add 5.70%	95	0.01
☰	1367506D - Forest City Enterprise	Add 5.41%	56	0.00
☰	MBI - MBIA Inc.	Add 5.40%	12,967	0.07
☰	WHG - Westwood Holdings Group Inc.	Add 5.01%	809	0.01
☰	CITGQ - CIT Group Inc.	Add 4.98%	2,289	0.02
☰	JNC - Nuveen Investments, Inc.,	Add 4.70%	867	0.01
☰	VSH - Vishay Intertechnology, Inc.	Add 4.65%	326	0.01
☰	FLA - Florida East Coast Industries, Inc.	Add 4.57%	109	0.00
☰	LM - Legg Mason Inc.	Add 4.32%	11,194	0.03
☰	FPO - First Potomac Realty Trust	Add 3.52%	496	0.01
☰	JLL - Jones Lang LaSalle Inc.	Add 3.33%	2,291	0.02
☰	3307381Q - Trammell Crow Company	Add 2.15%	3,462	0.05
☰	INGP - Instinet Group Corp.	Add 1.96%	1,628	0.11
☰	1862602D - FSI International, Inc.	Add 1.47%	11	0.00
☰	769050Q - Commercial Federal Corp.	Add 1.35%	28	0.00
☰	PRXL - Parexel International Corp	Add 0.33%	258	0.00
☰	GMST - Gemstar-TV Guide International, Inc.	Add 0.01%	229	0.00
☰	CVA - Covanta Holding Corp	Buy	118,411	2.89
☰	0814429D - Gsi Group Inc	Buy	4,505	0.14
☰	OME - Omega Protein Corp	Buy	5,758	0.12
☰	MOVIQ - Movie Gallery Inc.	Buy	540	0.01
☰	PAAS - Pan American Silver Corp.	Buy	228	0.00
☰	TSG - Sabre Holdings Corp.	Buy	304	0.00
	Q2 2005
☰	ADC - Agree Realty Corp.	Add 452205.63%	3,857,314	3.90
☰	FDT - First Trust Developed Markets Ex-US AlphaDEX Fund	Add 303.22%	3,672	0.11
☰	IM - Ingram Micro Inc.	Add 245.05%	8,322	0.23
☰	ACPIQ - Anthracite Capital Inc.	Add 128.22%	7,928	0.29
☰	LSE - Capital Lease Funding Inc.	Add 115.63%	5,200	0.21
☰	FHR - Fairmont Hotels & Resorts Inc	Add 107.63%	29,224	0.37
☰	MBI - MBIA Inc.	Add 101.29%	120,919	0.89
☰	ESREF - ESG Re Limited	Add 100.00%	9	0.03
☰	GMST - Gemstar-TV Guide International, Inc.	Add 63.33%	731,644	1.22
☰	CTO - CTO Realty Growth, Inc.	Add 48.71%	67,888	0.09
☰	PKX - Posco ADR	Add 43.01%	57,362	0.57
☰	ANLD - American Land Lease Inc.	Add 40.88%	4,377	0.09
☰	AKR - Acadia Realty Trust	Add 38.42%	10,258	0.24
☰	TCADR - Telecom Corp of New Zealand ADR	Add 35.81%	360,780	0.81
☰	LNN - Lindsay Manufacturing Co.	Add 34.45%	6,713	0.12
☰	EFII - Electronics for Imaging	Add 33.56%	20,293	0.42
☰	LM - Legg Mason Inc.	Add 30.91%	61,220	0.26
☰	SNPS - Synopsys, Inc.	Add 28.14%	5,163	0.13
☰	BKE - The Buckle, Inc.	Add 25.07%	2,652	0.01
☰	PKE - Park Electrochemical Corp.	Add 24.24%	4,749	0.08
☰	TLAB - Tellabs, Inc.	Add 23.69%	17,922	0.09
☰	JLL - Jones Lang LaSalle Inc.	Add 22.36%	12,560	0.12
☰	785725Q - Catellus Development Corp.	Add 22.19%	53,465	0.71
☰	769050Q - Commercial Federal Corp.	Add 21.80%	371	0.00
☰	2900474Q - Criimi Mae Inc.	Add 21.70%	4,783	0.10
☰	JOE - The St. Joe Co.	Add 21.22%	111,535	0.60
☰	TXU - TXU Corp.	Add 20.69%	1,258,017	0.08
☰	STJ - St. Jude Medical Inc.	Add 20.43%	2,685	0.03
☰	ITG - Investment Technology Group.	Add 20.09%	467	0.01
☰	TRN - Trinity Industries, Inc.	Add 18.91%	32,924	0.11
☰	SUND - Suncor Energy Inc.	Add 17.99%	2,862	0.08
☰	SCMR - Sycamore Networks, Inc.	Add 17.61%	9,883	0.12
☰	3026360Q - Scientific-Atlanta, Inc.	Add 17.29%	1,042	0.01
☰	3307381Q - Trammell Crow Company	Add 17.25%	23,651	0.42
☰	SYBG - Sybase Inc.	Add 16.76%	1,577	0.04
☰	RTI - RTI International Metals, Inc.	Add 16.71%	1,183	0.02
☰	CMOS - Credence Systems	Add 16.60%	9,126	0.44
☰	VNO - Vornado Realty Trust	Add 16.44%	24,313	0.10
☰	TRC - Tejon Ranch Co.	Add 15.20%	31,645	0.25
☰	LF - Leapfrog Enterprises Inc.	Add 14.86%	6,817	0.26
☰	BELFB - Bel Fuse Inc.	Add 14.58%	3,654	0.05
☰	ACMTA - Acmat Corp.- Class A	Add 13.53%	338	0.01
☰	2857666Q - Bandag, Incorporated	Add 13.46%	2,771	0.03
☰	NAL - NewAlliance Bancshares, Inc.	Add 13.34%	9,251	0.29
☰	INGP - Instinet Group Inc.	Add 13.08%	9,619	0.08
☰	IBAAY - Industrias Bachoco, S.A. DE C.V.	Add 12.24%	1,098	0.03
☰	CITGQ - CIT Group Inc.	Add 12.04%	4,945	0.05
☰	STC - Stewart Information Services Corp.	Add 11.94%	2,150	0.02
☰	BPPNZ - BPP Liquidating Trust	Add 11.69%	9	0.04
☰	OLP - One Liberty Properties	Add 11.61%	2,157	0.05
☰	FCYA - Forest City Enterprise	Add 10.83%	47,933	0.29
☰	PSB - PS Business Parks, Inc.	Add 10.42%	7,972	0.08
☰	CNX - CNX Resources Corp.	Add 10.34%	915	0.01
☰	ECA - Encana Corp.	Add 9.92%	11,726	0.13
☰	JNC - Nuveen Investments, Inc.,	Add 9.62%	1,617	0.02
☰	ACGL - Arch Capital Group Ltd.	Add 9.12%	65,673	0.07
☰	8394653Q - Prologis Trust SBI	Add 9.09%	8,785	0.10
☰	FPO - First Potomac Realty Trust SBI	Add 8.53%	1,108	0.02
☰	TD - The Toronto-Dominion Bank	Add 7.99%	108	0.00
☰	BHS - Brookfield Homes Corp	Add 7.80%	1,033	0.01
☰	NTLIV - NTL Inc.	Add 7.51%	55	0.00
☰	IRS - IRSA Inversiones y Representaciones Sociedad Anónima	Add 7.45%	307	0.01
☰	SWS - SWS Group Inc.	Add 7.18%	216	0.01
☰	HRLY - Herley Industries, Inc.	Add 6.97%	627	0.01
☰	AH1 - Avatar Holdings Inc.	Add 6.66%	2,318	0.02
☰	1013516Q - CRT Properties Inc	Add 6.17%	109,145	0.22
☰	BELFA - Bel Fuse Inc.	Add 5.93%	418	0.01
☰	ALOG - Analogic Corporation	Add 5.64%	275	0.00
☰	PFE - Pfizer Inc.	Add 5.05%	263	0.00
☰	SXI - Standex International Corp.	Add 4.06%	533	0.01
☰	TPGI - Thomas Properties Group INC	Add 2.56%	703	0.02
☰	COHR - Coherent Corp.	Add 2.55%	1,616	0.01
☰	1367506D - Forest City Enterprise	Add 2.47%	25	0.00
☰	8138927Q - 3Com Corp	Add 2.25%	8	0.00
☰	TMP - Tompkins Trustco Inc.	Add 1.99%	51	0.00
☰	VSH - Vishay Intertechnology, Inc.	Add 1.98%	136	0.00
☰	FLA - Florida East Coast Industries, Inc.	Add 1.92%	45	0.00
☰	PGE - Prime Group Realty Trust	Add 0.84%	38	0.00
☰	NBR - Nabors Industries Ltd.	Add 0.77%	30	0.01
☰	CCRN - Cross Country Healthcare, Inc.	Add 0.29%	156	0.00
☰	CFNB - California First National Bank	Buy	68,254	0.98
☰	DCH - Dauch Corp.	Buy	25,230	0.43
☰	MVK - Maverick Tube Corp.	Buy	23,712	0.35
☰	LAVA - Magma Design Automation, Inc.	Buy	5,226	0.27
☰	PHH - PHH Corporation	Buy	14,118	0.24
☰	SN8 - Spirit Finance Corp.	Buy	128	0.00
	Q1 2005
☰	2307532Q - American Power Conversion Corp	Add 42670.26%	130,571	2.34
☰	785725Q - Catellus Development Corp.	Add 16047.65%	239,431	4.20
☰	FCYA - Forest City Enterprise	Add 6732.83%	436,153	3.20
☰	JOE - The St. Joe Co.	Add 6123.32%	517,053	3.59
☰	RDN - Radian Group Inc.	Add 5813.75%	112,903	1.11
☰	LM - Legg Mason Inc.	Add 3030.84%	191,761	1.15
☰	TRC - Tejon Ranch Co.	Add 2406.23%	199,934	1.97
☰	EFII - Electronics for Imaging	Add 1726.13%	57,152	1.50
☰	CMVT - Comverse Technology, Inc.	Add 1391.24%	95,912	1.78
☰	NBR - Nabors Industries Ltd.	Add 1249.13%	3,585	0.71
☰	LF - Leapfrog Enterprises Inc.	Add 524.21%	38,519	1.59
☰	INGP - Instinet Group Inc.	Add 237.09%	51,730	0.41
☰	KSWS - K-Swiss Incl	Add 154.68%	18,710	0.26
☰	ESIO - Electro Scientific Industries, Inc.	Add 122.01%	41,308	1.00
☰	JLL - Jones Lang LaSalle Inc.	Add 109.49%	29,361	0.29
☰	ANLD - American Land Lease Inc.	Add 90.11%	5,075	0.10
☰	JAKK - Jakks Pacific, Inc.	Add 75.65%	3,384	0.74
☰	SUND - Suncor Energy Inc.	Add 71.22%	6,616	0.23
☰	AKR - Acadia Realty Trust	Add 60.10%	10,023	0.29
☰	2900474Q - Criimi Mae Inc.	Add 44.85%	6,823	0.16
☰	CTO - CTO Realty Growth, Inc.	Add 32.21%	33,956	0.08
☰	SSUP - Superior Industries International, Inc.	Add 30.42%	24,556	0.43
☰	CMOS - Credence Systems	Add 26.93%	11,661	0.69
☰	HAYN - Haynes International Inc.	Add 26.69%	1,784	0.04
☰	NAL - NewAlliance Bancshares, Inc.	Add 25.06%	13,898	0.46
☰	BHS - Brookfield Homes Corp	Add 24.17%	2,579	0.03
☰	2857666Q - Bandag, Incorporated	Add 23.42%	3,906	0.04
☰	ECA - Encana Corp.	Add 23.37%	22,396	0.15
☰	VNO - Vornado Realty Trust	Add 19.23%	23,852	0.12
☰	BKE - The Buckle, Inc.	Add 18.36%	1,641	0.01
☰	8285437Q - Fording Canadian Coal Trust UNIT	Add 17.80%	9,737	0.05
☰	PSB - PS Business Parks, Inc.	Add 15.27%	10,134	0.12
☰	ACPIQ - Anthracite Capital Inc.	Add 13.85%	752	0.03
☰	3307381Q - Trammell Crow Company	Add 13.72%	16,534	0.38
☰	AGU - Agrium, Inc.	Add 12.94%	8,199	0.21
☰	ESREF - ESG Re Limited	Add 12.50%	1	0.01
☰	PKE - Park Electrochemical Corp.	Add 12.20%	2,130	0.05
☰	PGE - Prime Group Realty Trust	Add 11.38%	460	0.03
☰	PRXL - Parexel International Corp	Add 11.25%	8,818	0.18
☰	FHR - Fairmont Hotels & Resorts Inc	Add 9.46%	2,347	0.03
☰	1367506D - Forest City Enterprise	Add 5.86%	56	0.00
☰	IBAAY - Industrias Bachoco, S.A. DE C.V.	Add 5.63%	478	0.02
☰	8394653Q - Prologis Trust SBI	Add 4.69%	4,332	0.05
☰	BLX - Banco Latinoamericano Exportaciones, S.	Add 2.52%	143	0.00
☰	ACGL - Arch Capital Group Ltd.	Add 2.08%	14,670	0.02
☰	FPO - First Potomac Realty Trust SBI	Add 0.22%	29	0.00
☰	AEC - Associated Estates Realty Corporation	Add 0.00%	2	0.83
☰	GMST - Gemstar-TV Guide International, Incorpo	Buy	1,155,244	3.34
☰	2925169Q - GEAC Computer Corp LTD	Buy	42,289	2.22
☰	SHLDQ - Sears Holding Corp.	Buy	385,860	1.51
☰	PKX - Posco ADR	Buy	133,384	1.26
☰	IRS - IRSA Inversiones y Representaciones Sociedad Anónima	Buy	4,119	0.17
☰	PFE - Pfizer Inc.	Buy	5,206	0.09
☰	FDT - First Trust Developed Markets Ex-US AlphaDEX Fund	Buy	1,211	0.05
☰	ADC - Agree Realty Corp.	Buy	853	0.01
☰	NTLIV - NTL Inc.	Buy	732	0.01
☰	TD - The Toronto-Dominion Bank	Buy	1,352	0.01