Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
GLD	SPDR GOLD TRUST	364,487	$48.55M	8.5%	$133.20	$125.89	+5.8%	GOLD SHS	78463V107
—	ISHARES GOLD TRUST	2,892,400	$39.05M	6.8%	$13.50	$11.50	—	ISHARES	464285105
T	AT&T INC	740,474	$24.81M	4.4%	$33.51 *	$14.51	+9.9%	COM	00206R102
—	ALLIANCEBERNSTEIN GBL HGH IN	1,689,124	$19.9M	3.5%	$11.78	$11.89	—	COM	01879R106
—	INDEPENDENCE HLDG CO NEW	509,341	$19.72M	3.5%	$38.72	$35.65	—	COM NEW	453440307
BMY	BRISTOL MYERS SQUIBB CO	328,694	$14.91M	2.6%	$45.35 *	$41.85	-15.9%	COM	110122108
—	FOOT LOCKER INC	322,331	$13.51M	2.4%	$41.92	$41.92	—	COM	344849104
—	HANESBRANDS INC	747,950	$12.88M	2.3%	$17.22	$16.37	—	COM	410345102
TAP	MOLSON COORS BREWING CO	222,934	$12.48M	2.2%	$56.00 *	$57.68	-18.3%	CL B	60871R209
NXPI	NXP SEMICONDUCTORS N V	126,744	$12.37M	2.2%	$97.61 *	$92.71	-5.4%	COM	N6596X109
GILD	GILEAD SCIENCES INC	169,957	$11.48M	2.0%	$67.56 *	$56.02	-6.1%	COM	375558103
GBDC	GOLUB CAP BDC INC	638,244	$11.36M	2.0%	$17.80 *	$8.49	+9.6%	COM	38173M102
PGR	PROGRESSIVE CORP OHIO	136,795	$10.93M	1.9%	$79.93 *	$48.68	+34.7%	COM	743315103
IBM	INTERNATIONAL BUSINESS MACHS	79,193	$10.92M	1.9%	$137.90 *	$101.88	-2.4%	COM	459200101
—	WESTROCK CO	290,860	$10.61M	1.9%	$36.47	$48.15	—	COM	96145D105
GOOGL	ALPHABET INC	9,324	$10.1M	1.8%	$1082.80 *	$55.46	-3.1%	CAP STK CL A	02079K305
—	ALLERGAN PLC	58,061	$9.721M	1.7%	$167.43	$167.43	—	SHS	G0177J108
MTB	M & T BK CORP	56,791	$9.658M	1.7%	$170.06 *	$146.61	-5.9%	COM	55261F104
MHK	MOHAWK INDS INC	64,190	$9.466M	1.7%	$147.47	$167.02	-11.7%	COM	608190104
WHR	WHIRLPOOL CORP	66,481	$9.464M	1.7%	$142.36	$130.00	+9.5%	COM	963320106
NTR	NUTRIEN LTD	173,902	$9.297M	1.6%	$53.46 *	$38.88	+10.5%	COM	67077M108
—	UNITED TECHNOLOGIES CORP	70,929	$9.235M	1.6%	$130.20	$126.40	—	COM	913017109
LEA	LEAR CORP	59,810	$8.33M	1.5%	$139.27 *	$120.66	+1.0%	COM NEW	521865204
SPB	SPECTRUM BRANDS HLDGS INC NE	151,675	$8.156M	1.4%	$53.77	$78.22	-31.3%	COM	84790A105
MGM	MGM RESORTS INTERNATIONAL	271,420	$7.754M	1.4%	$28.57	$29.99	-6.3%	COM	552953101
UNH	UNITEDHEALTH GROUP INC	30,770	$7.508M	1.3%	$244.00 *	$215.47	+1.8%	COM	91324P102
AFL	AFLAC INC	118,294	$6.484M	1.1%	$54.81 *	$36.98	+27.1%	COM	001055102
AVGO	BROADCOM INC	22,493	$6.475M	1.1%	$287.87 *	$18.86	+28.8%	COM	11135F101
NOC	NORTHROP GRUMMAN CORP	19,983	$6.457M	1.1%	$323.12 *	$245.35	+18.4%	COM	666807102
NWL	NEWELL BRANDS INC	410,274	$6.326M	1.1%	$15.42 *	$18.96	-39.8%	COM	651229106
KLIC	KULICKE & SOFFA INDS INC	280,000	$6.314M	1.1%	$22.55 *	$20.85	-3.1%	COM	501242101
DOW	DOW INC	123,887	$6.109M	1.1%	$49.31 *	$36.37	-5.7%	COM	260557103
ALB	ALBEMARLE CORP	82,363	$5.799M	1.0%	$70.41 *	$67.39	-4.2%	COM	012653101
TMUS	T MOBILE US INC	77,425	$5.74M	1.0%	$74.14 *	$59.92	+19.5%	COM	872590104
ABBV	ABBVIE INC	73,943	$5.377M	0.9%	$72.72 *	$59.38	-7.3%	COM	00287Y109
MMM	3M CO	26,507	$4.595M	0.8%	$173.35 *	$129.56	-11.9%	COM	88579Y101
SEE	SEALED AIR CORP NEW	103,944	$4.447M	0.8%	$42.78 *	$39.12	-3.0%	COM	81211K100
JEF	JEFFERIES FINL GROUP INC	227,000	$4.365M	0.8%	$19.23 *	$16.63	-15.5%	COM	47233W109
SLV	ISHARES SILVER TRUST	303,575	$4.35M	0.8%	$14.33	$15.42	-7.0%	ISHARES	46428Q109
AXTA	AXALTA COATING SYS LTD	146,044	$4.348M	0.8%	$29.77	$30.70	-3.0%	COM	G0750C108
CYD	CHINA YUCHAI INTL LTD	285,000	$4.272M	0.7%	$14.99 *	$14.05	-23.8%	COM	G21082105
PFE	PFIZER INC	96,061	$4.161M	0.7%	$43.32 *	$24.24	+25.2%	COM	717081103
—	BARRICK GOLD CORPORATION	263,748	$4.159M	0.7%	$15.77	$13.71	—	COM	067901108
QCOM	QUALCOMM INC	52,797	$4.016M	0.7%	$76.06 *	$51.48	+27.4%	COM	747525103
JNJ	JOHNSON & JOHNSON	25,572	$3.562M	0.6%	$139.29 *	$106.70	+8.7%	COM	478160104
BEN	FRANKLIN RES INC	94,216	$3.279M	0.6%	$34.80 *	$22.81	+11.5%	COM	354613101
MO	ALTRIA GROUP INC	67,695	$3.205M	0.6%	$47.34 *	$34.10	-17.0%	COM	02209S103
M	MACYS INC	143,557	$3.081M	0.5%	$21.46	$22.74	-5.6%	COM	55616P104
VZ	VERIZON COMMUNICATIONS INC	49,031	$2.801M	0.5%	$57.13 *	$33.03	+20.3%	COM	92343V104
RGLD	ROYAL GOLD INC	26,040	$2.669M	0.5%	$102.50	$82.30	+24.5%	COM	780287108
MRK	MERCK & CO INC	31,354	$2.629M	0.5%	$83.85 *	$42.25	+54.5%	COM	58933Y105
—	AVANGRID INC	51,832	$2.618M	0.5%	$50.51	$51.11	—	COM	05351W103
THO	THOR INDS INC	43,670	$2.553M	0.4%	$58.46 *	$57.93	-11.7%	COM	885160101
CMI	CUMMINS INC	14,500	$2.484M	0.4%	$171.31 *	$122.60	+18.4%	COM	231021106
ADNT	ADIENT PLC	100,973	$2.451M	0.4%	$24.27	$57.12	-57.5%	ORD SHS	G0084W101
PAAS	PAN AMERICAN SILVER CORP	183,984	$2.375M	0.4%	$12.91	$14.00	-7.8%	COM	697900108
PM	PHILIP MORRIS INTL INC	29,850	$2.344M	0.4%	$78.53 *	$60.63	-7.4%	COM	718172109
—	LIBERTY GLOBAL PLC	86,910	$2.306M	0.4%	$26.53	$30.06	—	SHS CL C	G5480U120
CBOE	CBOE GLOBAL MARKETS INC	21,935	$2.273M	0.4%	$103.62 *	$91.81	+3.6%	COM	12503M108
AMZN	AMAZON COM INC	1,088	$2.06M	0.4%	$1893.38 *	$71.51	+32.4%	COM	023135106
UNM	UNUM GROUP	60,000	$2.013M	0.4%	$33.55	$52.25	-35.8%	COM	91529Y106
—	OAKTREE SPECIALTY LENDING CO	370,540	$2.008M	0.4%	$5.42	$4.22	—	COM	67401P108
GPRO	GOPRO INC	334,597	$1.827M	0.3%	$5.46	$5.72	-4.6%	CL A	38268T103
AAPL	APPLE INC	8,606	$1.703M	0.3%	$197.89 *	$40.42	+17.4%	COM	037833100
—	ARQULE INC	150,000	$1.652M	0.3%	$11.01	$2.88	—	COM	04269E107
—	WESTERN AST INFL LKD OPP & I	146,725	$1.642M	0.3%	$11.19	$11.32	—	COM	95766R104
ATR	APTARGROUP INC	12,939	$1.609M	0.3%	$124.35 *	$79.58	+43.6%	COM	038336103
—	LINDE PLC	8,000	$1.606M	0.3%	$200.75	$158.15	—	SHS	G5494J103
USB	US BANCORP DEL	30,100	$1.577M	0.3%	$52.39 *	$39.92	-0.1%	COM NEW	902973304
—	WASHINGTON PRIME GROUP NEW	408,797	$1.562M	0.3%	$3.82	$6.67	—	COM	93964W108
BNS	BANK N S HALIFAX	28,600	$1.554M	0.3%	$54.34 *	$40.96	-5.9%	COM	064149107
—	BLACKROCK MUNIYIELD NY QLTY	114,600	$1.457M	0.3%	$12.71	$12.05	—	COM	09255E102
NVS	NOVARTIS A G	15,848	$1.447M	0.3%	$91.30	$76.12	+19.9%	SPONSORED ADR	66987V109
RY	ROYAL BK CDA MONTREAL QUE	18,100	$1.437M	0.3%	$79.39	$77.84	+2.0%	COM	780087102
—	INTEVAC INC	293,646	$1.421M	0.2%	$4.84	$6.90	—	COM	461148108
GNTX	GENTEX CORP	56,000	$1.378M	0.2%	$24.61	$22.76	+8.1%	COM	371901109
PCH	POTLATCHDELTIC CORPORATION	33,322	$1.299M	0.2%	$38.98	$48.46	—	COM	737630103
CMCSA	COMCAST CORP NEW	30,000	$1.268M	0.2%	$42.27 *	$30.58	+16.5%	CL A	20030N101
INTC	INTEL CORP	26,187	$1.254M	0.2%	$47.89 *	$40.06	+4.1%	COM	458140100
MNST	MONSTER BEVERAGE CORP NEW	19,650	$1.254M	0.2%	$63.82 *	$29.13	+9.6%	COM	61174X109
CL	COLGATE PALMOLIVE CO	16,200	$1.161M	0.2%	$71.67 *	$54.60	+12.6%	COM	194162103
—	PREMIER INC	29,600	$1.158M	0.2%	$39.12	$34.49	—	CL A	74051N102
CGNX	COGNEX CORP	23,000	$1.104M	0.2%	$48.00 *	$44.22	+1.8%	COM	192422103
—	ATHENE HLDG LTD	24,705	$1.064M	0.2%	$43.07	$40.80	—	CL A	G0684D107
DIS	DISNEY WALT CO	7,464	$1.042M	0.2%	$139.60 *	$101.39	+32.9%	COM DISNEY	254687106
—	ALLEGHANY CORP DEL	1,500	$1.022M	0.2%	$681.33	$614.42	—	COM	017175100
APLE	APPLE HOSPITALITY REIT INC	62,460	$991K	0.2%	$15.87	$14.27	—	COM NEW	03784Y200
—	VAPOTHERM INC	39,988	$920K	0.2%	$23.01	$20.97	—	COM	922107107
—	GOPRO INC	900,000	$893K	0.2%	$0.99	$0.93	—	NOTE 3.500% 4/1	38268TAB9
VC	VISTEON CORP	15,000	$879K	0.2%	$58.60	$60.76	-4.1%	COM NEW	92839U206
DD	DUPONT DE NEMOURS INC	11,367	$853K	0.1%	$75.04 *	$27.24	+1.5%	COM	26614N102
GVA	GRANITE CONSTR INC	17,604	$848K	0.1%	$48.17	$56.52	-14.8%	COM	387328107
UNP	UNION PACIFIC CORP	5,000	$846K	0.1%	$169.20 *	$113.06	+29.4%	COM	907818108
FTI	TECHNIPFMC PLC	31,900	$827K	0.1%	$25.92 *	$21.36	-14.2%	COM	G87110105
—	GENERAL ELECTRIC CO	77,301	$812K	0.1%	$10.50	$12.83	—	COM	369604103
—	CURIS INC	425,338	$791K	0.1%	$1.86	$1.73	—	COM NEW	231269200
PSLV	SPROTT PHYSICAL SILVER TR	136,709	$781K	0.1%	$5.71	$6.04	—	TR UNIT	85207K107
LBTYAUSD	LIBERTY GLOBAL PLC	28,809	$778K	0.1%	$27.01	$31.31	—	SHS CL A	G5480U104
L	LOEWS CORP	14,000	$765K	0.1%	$54.64 *	$48.83	+8.9%	COM	540424108
WMT	WALMART INC	6,690	$739K	0.1%	$110.46 *	$26.00	+28.9%	COM	931142103
DGICA	DONEGAL GROUP INC	47,213	$721K	0.1%	$15.27 *	$11.58	-1.7%	CL A	257701201
—	TEEKAY TANKERS LTD	562,200	$720K	0.1%	$1.28	$1.19	—	CL A	Y8565N102
META	FACEBOOK INC	3,500	$676K	0.1%	$193.14	$178.31	+7.5%	CL A	30303M102
AXP	AMERICAN EXPRESS CO	5,000	$617K	0.1%	$123.40 *	$87.01	+29.8%	COM	025816109
MET	METLIFE INC	10,800	$536K	0.1%	$49.63 *	$36.85	+8.2%	COM	59156R108
CAG	CONAGRA BRANDS INC	19,762	$524K	0.1%	$26.52 *	$27.24	-25.4%	COM	205887102
—	WESTERN ASST INFLTN LKD INM	42,711	$498K	0.1%	$11.66	$11.55	—	COM SH BEN INT	95766Q106
—	DEAN FOODS CO NEW	524,145	$484K	0.1%	$0.92	$6.01	—	COM NEW	242370203
MUR	MURPHY OIL CORP	19,226	$474K	0.1%	$24.65 *	$21.71	-10.6%	COM	626717102
STZ	CONSTELLATION BRANDS INC	2,400	$473K	0.1%	$197.08 *	$194.12	-8.8%	CL A	21036P108
HON	HONEYWELL INTL INC	2,650	$463K	0.1%	$174.72 *	$117.52	+22.3%	COM	438516106
LW	LAMB WESTON HLDGS INC	6,587	$417K	0.1%	$63.31 *	$50.37	+13.6%	COM	513272104
XOM	EXXON MOBIL CORP	5,228	$401K	0.1%	$76.70 *	$55.74	+1.6%	COM	30231G102
CC	CHEMOURS CO	16,600	$398K	0.1%	$23.98 *	$23.57	-22.5%	COM	163851108
CSCO	CISCO SYS INC	7,200	$394K	0.1%	$54.72 *	$33.46	+33.9%	COM	17275R102
NAT	NORDIC AMERICAN TANKERS LIMI	166,000	$388K	0.1%	$2.34	$2.29	+2.2%	COM	G65773106
JPM	JPMORGAN CHASE & CO	3,412	$381K	0.1%	$111.66 *	$91.43	+2.1%	COM	46625H100
MDLZ	MONDELEZ INTL INC	6,920	$373K	0.1%	$53.90 *	$35.85	+28.3%	CL A	609207105
PHI	PLDT INC	15,000	$372K	0.1%	$24.80	$23.77	+4.4%	SPONSORED ADR	69344D408
GOOG	ALPHABET INC	341	$369K	0.1%	$1082.11 *	$54.79	-2.1%	CAP STK CL C	02079K107
MSFT	MICROSOFT CORP	2,700	$362K	0.1%	$134.07 *	$84.74	+49.1%	COM	594918104
CTVA	CORTEVA INC	11,367	$336K	0.1%	$29.56 *	$25.02	+8.7%	COM	22052L104
LILAK	LIBERTY LATIN AMERICA LTD	15,183	$261K	0.0%	$17.19 *	$20.25	-20.1%	COM CL C	G9001E128
CHTR	CHARTER COMMUNICATIONS INC N	654	$258K	0.0%	$394.50	$351.59	+12.4%	CL A	16119P108
—	NEW GERMANY FD INC	17,888	$254K	0.0%	$14.20	$18.48	—	COM	644465106
BRK/B	BERKSHIRE HATHAWAY INC DEL	1,150	$245K	0.0%	$213.04	$205.34	+3.8%	CL B NEW	084670702
—	CONSOLIDATED TOMOKA LD CO	4,000	$239K	0.0%	$59.75	$62.75	—	COM	210226106
GERN	GERON CORP	154,700	$218K	0.0%	$1.41	$2.70	-47.8%	COM	374163103
INVE	IDENTIV INC	29,500	$151K	0.0%	$5.12	$3.73	+37.3%	COM NEW	45170X205
—	SIRIUS XM HLDGS INC	20,000	$112K	0.0%	$5.60	$6.25	—	COM	82968B103
—	SANOFI	63,817	$33,000	0.0%	$0.52	$0.42	—	RIGHT 12/31/2020	80105N113
—	NEWLINK GENETICS CORP	10,000	$15,000	0.0%	$1.50	$7.25	—	COM	651511107