Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	Accenture PLC Ireland Class A	130,341	$15.92M	3.7%	$113.29	—	ADR	g1151c101
—	Broadcom Ltd	76,670	$13.23M	3.1%	$155.40	—	ADR	y09827109
SAP	Sap SE Sp ADR	139,364	$12.74M	2.9%	$75.85	—	ADR	803054204
—	China Biologic Prods Inc	93,784	$11.67M	2.7%	$106.32	—	ADR	16938c106
—	Netease Inc Sp ADR	40,090	$9.653M	2.2%	$193.22	—	ADR	64110w102
—	Delphi Automotive PLC	134,254	$9.575M	2.2%	$62.60	—	ADR	g27823106
—	Taro Pharmaceutical Industries	78,727	$8.7M	2.0%	$145.60	—	ADR	m8737e108
—	Sensata Technologies Holding N	208,426	$8.083M	1.9%	$34.89	—	ADR	n7902x106
—	TE Connectivity Ltd Reg	121,913	$7.849M	1.8%	$64.38	—	ADR	h84989104
TSM	Taiwan Semiconductor Mfg Ltd S	209,735	$6.416M	1.5%	$22.24	—	ADR	874039100
—	Alibaba Group Holding Ltd Sp A	42,346	$4.48M	1.0%	$79.54	—	ADR	01609w102
—	Groupe CGI Inc Cl A	92,443	$4.403M	1.0%	$42.71	—	ADR	39945c109
SNPS	Synopsys Inc	63,694	$3.78M	0.9%	$52.01	+9.2%	COM	871607107
KEP	Korea Electric Power Sp ADR	153,698	$3.747M	0.9%	$22.03	—	ADR	500631106
OMC	Omnicom Group Inc	43,281	$3.679M	0.8%	$45.48	+33.1%	COM	681919106
LEA	Lear Corp	29,677	$3.597M	0.8%	$87.39	+9.1%	COM	521865204
FISV	Fiserv Inc	36,059	$3.587M	0.8%	$32.63	+60.7%	COM	337738108
EFX	Equifax Inc	26,561	$3.575M	0.8%	$88.82	+36.8%	COM	294429105
SWK	Stanley Black & Decker Inc	29,031	$3.57M	0.8%	$78.58	+20.1%	COM	854502101
APH	Amphenol Corp Cl A	54,860	$3.562M	0.8%	$13.53	+2.8%	COM	032095101
GD	General Dynamics Corp	22,592	$3.505M	0.8%	$90.04	+35.1%	COM	369550108
TM	Toyota Motor Corp Sp ADR 2	30,191	$3.504M	0.8%	$119.87	—	ADR	892331307
AZO	AutoZone Inc	4,525	$3.477M	0.8%	$680.93	+14.3%	COM	053332102
—	MasterCard Inc Cl A	33,981	$3.458M	0.8%	$88.07	—	COM	57636q104
SPG	Simon Property Group Inc	16,565	$3.429M	0.8%	$102.54	+29.6%	COM	828806109
—	Spectrum Brands Holdings Inc	24,753	$3.408M	0.8%	$137.68	—	COM	84763r101
—	UnitedHealth Group Inc	24,188	$3.386M	0.8%	$141.20	—	COM	91324p102
—	Comcast Corp Cl A	50,257	$3.334M	0.8%	$65.20	—	COM	20030n101
—	Medtronic PLC	38,584	$3.334M	0.8%	$86.76	—	ADR	g5960l103
—	Vantiv Inc Cl A	59,199	$3.331M	0.8%	$56.61	—	COM	92210h105
ITW	Illinois Tool Works Inc	27,632	$3.311M	0.8%	$92.87	0.0%	COM	452308109
—	Silicon Motion Technology Corp	63,754	$3.302M	0.8%	$47.80	—	ADR	82706c108
TMO	Thermo Fisher Scientific Inc	20,725	$3.297M	0.8%	$146.95	+2.1%	COM	883556102
JNJ	Johnson & Johnson	27,879	$3.293M	0.8%	$73.15	+27.9%	COM	478160104
—	Verisk Analytics Inc	39,656	$3.223M	0.7%	$81.09	—	COM	92345y106
PFE	Pfizer Inc	92,160	$3.121M	0.7%	$18.71	+19.0%	COM	717081103
HSIC	Schein Henry Inc	18,633	$3.037M	0.7%	$57.21	+16.0%	COM	806407102
MCO	Moodys Corp	27,875	$3.018M	0.7%	$77.00	+24.9%	COM	615369105
DHR	Danaher Corp	38,367	$3.008M	0.7%	$30.67	+119.4%	COM	235851102
CCK	Crown Holdings Inc	52,499	$2.997M	0.7%	$50.94	0.0%	COM	228368106
—	Relx NV Sp ADR	162,935	$2.91M	0.7%	$17.41	—	ADR	75955b102
SYK	Stryker Corp	24,593	$2.863M	0.7%	$88.14	+19.0%	COM	863667101
—	Chunghwa Telecom Co Ltd Sp ADR	80,539	$2.821M	0.7%	$36.18	—	ADR	17133q502
—	Anheuser-Busch InBev SA NV Sp	21,341	$2.804M	0.6%	$131.68	—	ADR	03524a108
ABBNY	ABB Ltd Sp ADR	122,269	$2.752M	0.6%	$19.47	—	ADR	000375204
DIS	Disney Walt Co Disney	29,290	$2.72M	0.6%	$83.17	+6.9%	COM	254687106
—	Amdocs Ltd	46,272	$2.677M	0.6%	$57.72	—	ADR	g02602103
—	Icon PLC	34,290	$2.653M	0.6%	$70.01	—	ADR	g4705a100
—	Unilever PLC Sp ADR	55,619	$2.636M	0.6%	$41.99	—	ADR	904767704
—	Diageo PLC Sp ADR	22,607	$2.623M	0.6%	$112.93	—	ADR	25243q205
BTI	British American Tobacco PLC S	20,546	$2.623M	0.6%	$112.76	—	ADR	110448107
—	International Game Technology	106,545	$2.598M	0.6%	$24.38	—	ADR	g4863a108
—	Fortive Corp	50,812	$2.586M	0.6%	$50.89	—	COM	34959j108
NTTYY	Nippon Telegraph & Telephone C	55,928	$2.562M	0.6%	$34.38	—	ADR	654624105
RY	Royal Bank of Canada Montreal	39,132	$2.425M	0.6%	$51.99	+18.2%	ADR	780087102
—	NTT Docomo Inc Sp ADR	92,300	$2.345M	0.5%	$25.41	—	ADR	62942m201
CAE	CAE Inc	162,522	$2.314M	0.5%	$12.92	0.0%	ADR	124765108
—	Elbit Systems Ltd	23,247	$2.228M	0.5%	$90.94	—	ADR	m3760d101
AZN	AstraZeneca PLC Sp ADR	66,301	$2.179M	0.5%	$32.87	—	ADR	046353108
CIGI	Colliers Intl Group Inc	51,628	$2.172M	0.5%	$42.29	-5.5%	ADR	194693107
IX	ORIX Corp Sp ADR	28,827	$2.138M	0.5%	$71.38	—	ADR	686330101
ALV	Autoliv Inc	19,761	$2.11M	0.5%	$68.33	-9.9%	ADR	052800109
HON	Honeywell Intl Inc	17,000	$1.982M	0.5%	$72.17	+19.2%	COM	438516106
UGI	UGI Corp	42,857	$1.939M	0.4%	$34.39	+32.7%	COM	902681105
TXN	Texas Instruments Inc	27,000	$1.895M	0.4%	$37.15	+41.8%	COM	882508104
—	S&P Global Inc	14,600	$1.848M	0.4%	$107.26	—	COM	78409v104
—	Dun & Bradstreet Corp	13,513	$1.846M	0.4%	$121.80	—	COM	26483e100
JKHY	Henry Jack & Assoc Inc	21,519	$1.841M	0.4%	$59.71	+31.3%	COM	426281101
BALL	Ball Corp	22,421	$1.837M	0.4%	$28.96	+19.4%	COM	058498106
FDS	FactSet Research Systems Inc	11,230	$1.82M	0.4%	$138.53	+13.0%	COM	303075105
ECL	Ecolab Inc	14,800	$1.801M	0.4%	$98.12	+11.1%	COM	278865100
PEP	PepsiCo Inc	16,553	$1.8M	0.4%	$67.69	+19.8%	COM	713448108
—	IHS Markit Ltd	46,816	$1.758M	0.4%	$37.55	—	COM	g47567105
—	Quintiles Transnatio Holdings	21,622	$1.753M	0.4%	$81.07	—	COM	74876y101
—	Visa Inc Cl A	21,001	$1.737M	0.4%	$74.19	—	COM	92826c839
ROP	Roper Technologies Inc	9,500	$1.734M	0.4%	$149.30	+10.4%	COM	776696106
—	Cisco Systems Inc	54,501	$1.729M	0.4%	$28.70	—	COM	17275r102
DLX	Deluxe Corp	25,248	$1.687M	0.4%	$37.93	+21.2%	COM	248019101
IT	Gartner Inc	19,019	$1.682M	0.4%	$85.30	+10.0%	COM	366651107
—	Raytheon Co	12,300	$1.674M	0.4%	$135.93	—	COM	755111507
ARW	Arrow Electronics Inc	26,026	$1.665M	0.4%	$64.59	0.0%	COM	042735100
—	Oracle Corp	40,561	$1.593M	0.4%	$40.66	—	COM	68389x105
—	AT&T Inc	39,128	$1.589M	0.4%	$40.61	—	COM	00206r102
PEG	Public Service Enterprise Grou	37,001	$1.549M	0.4%	$28.40	+12.2%	COM	744573106
—	Verizon Communications Inc	29,100	$1.513M	0.3%	$55.84	—	COM	92343v104
HCKT	Hackett Group Inc	87,904	$1.452M	0.3%	$10.37	+47.2%	COM	404609109
—	Argan Inc	24,463	$1.448M	0.3%	$41.71	—	COM	04010e109
AAPL	Apple Inc	12,800	$1.447M	0.3%	$26.97	-10.2%	COM	037833100
—	Insurance Holdings Inc	57,016	$1.437M	0.3%	$18.58	—	COM	91359v107
—	Reata Pharmaceuticals Inc Cl A	54,016	$1.424M	0.3%	$20.83	—	COM	75615p103
—	Lam Research Corp	14,841	$1.406M	0.3%	$84.05	—	COM	512807108
—	VeriSign Inc	17,771	$1.39M	0.3%	$86.48	—	COM	92343e102
WINA	Winmark Corp	13,071	$1.379M	0.3%	$81.12	+25.4%	COM	974250102
AME	Ametek Inc	28,600	$1.367M	0.3%	$50.18	-10.9%	COM	031100100
NATH	Nathans Famous Inc	25,787	$1.355M	0.3%	$43.68	+11.4%	COM	632347100
—	Davita Healthcare Partners Inc	20,500	$1.354M	0.3%	$77.33	—	COM	23918k108
—	Travelers Companies Inc	11,533	$1.321M	0.3%	$119.05	—	COM	89417e109
—	Chase Corp	19,038	$1.316M	0.3%	$59.09	—	COM	16150r104
—	Douglas Dynamics Inc	40,475	$1.293M	0.3%	$25.74	—	COM	25960r105
—	CPI Card Group Inc	211,051	$1.275M	0.3%	$5.11	—	COM	12634h101
—	Credicorp Ltd	8,343	$1.27M	0.3%	$154.29	—	ADR	g2519y108
DSGX	Descartes Systems Group Inc	59,000	$1.27M	0.3%	$16.96	+20.7%	ADR	249906108
GGAL	Grupo Financiero Galicia SA Sp	40,603	$1.263M	0.3%	$28.95	—	ADR	399909100
FONR	Fonar Corp	61,186	$1.257M	0.3%	$13.67	+54.7%	COM	344437405
—	MeetMe Inc	201,248	$1.248M	0.3%	$4.02	—	COM	585141104
—	Natural Health Trends Corp	44,065	$1.245M	0.3%	$28.19	—	COM	63888p406
HNNA	Hennessy Advisors Inc	34,990	$1.241M	0.3%	$19.93	+18.4%	COM	425885100
—	Omega Protein Corp	52,914	$1.237M	0.3%	$20.00	—	COM	68210p107
—	Kadant Inc	23,712	$1.236M	0.3%	$51.49	—	COM	48282t104
—	Great Ajax Corp	90,523	$1.236M	0.3%	$13.87	—	COM	38983d300
—	Novanta Inc	71,016	$1.232M	0.3%	$15.44	—	ADR	67000b104
CRWS	Crown Crafts Inc	120,626	$1.23M	0.3%	$4.19	+17.4%	COM	228309100
—	SciClone Pharmaceuticals Inc	118,228	$1.212M	0.3%	$12.58	—	COM	80862k104
—	Globant SA	28,728	$1.21M	0.3%	$39.35	—	ADR	l44385109
—	Entercom Communications Corp C	91,923	$1.189M	0.3%	$12.37	—	COM	293639100
—	Avid Technology Inc	149,334	$1.186M	0.3%	$5.81	—	COM	05367p100
—	WNS Holdings Ltd Sp ADR	39,443	$1.181M	0.3%	$27.00	—	ADR	92932m101
—	Spark Energy Inc Cl A	40,510	$1.18M	0.3%	$33.05	—	COM	846511103
—	Nautilus Inc	51,814	$1.177M	0.3%	$18.10	—	COM	63910b102
—	Perficient Inc	58,242	$1.174M	0.3%	$20.32	—	COM	71375u101
—	Medifast Inc	31,008	$1.172M	0.3%	$35.04	—	COM	58470h101
—	Banco Macro SA Sp ADR B	14,819	$1.16M	0.3%	$74.24	—	ADR	05961w105
—	Ambev SA Sp ADR	188,404	$1.147M	0.3%	$5.91	—	ADR	02319v103
—	US Physical Therapy Inc	18,253	$1.144M	0.3%	$60.20	—	COM	90337l108
—	Dhi Group Inc	144,305	$1.139M	0.3%	$6.23	—	COM	23331s100
—	Ies Holdings Inc	64,017	$1.139M	0.3%	$17.79	—	COM	44951w106
CVS	CVS Health Corp	12,772	$1.137M	0.3%	$65.79	+7.8%	COM	126650100
UVSP	Univest Corp PA	48,613	$1.136M	0.3%	$19.88	+12.2%	COM	915271100
—	Sucampo Pharmaceuticals Inc Cl	92,023	$1.133M	0.3%	$10.96	—	COM	864909106
—	Insteel Industries Inc	31,008	$1.124M	0.3%	$28.61	—	COM	45774w108
—	Wipro Ltd Sp ADR 1 Sh	115,214	$1.119M	0.3%	$11.92	—	ADR	97651m109
CBZ	CBIZ Inc	99,552	$1.114M	0.3%	$9.23	+20.3%	COM	124805102
SYBT	Stock Yds Bancorp Inc	33,659	$1.109M	0.3%	$25.58	+18.9%	COM	861025104
—	Nv5 Global Inc	33,829	$1.093M	0.3%	$28.43	—	COM	62945v109
—	Armada Hoffler Properties Inc	81,380	$1.09M	0.3%	$13.74	—	COM	04208t108
—	Access National Corp	44,808	$1.071M	0.2%	$20.66	—	COM	004337101
—	Pzena Investment Mgmt Inc Clas	137,895	$1.062M	0.2%	$7.61	—	COM	74731q103
TLK	P T Telekomunikasi Indonesia S	16,014	$1.058M	0.2%	$58.25	—	ADR	715684106
—	Ardmore Shipping Corp	149,135	$1.05M	0.2%	$6.80	—	ADR	y0207t100
—	Ani Pharmaceuticals Inc	15,805	$1.049M	0.2%	$55.83	—	COM	00182c103
—	CRH Medical Corp	275,076	$1.048M	0.2%	$3.91	—	COM	12626f105
CCS	Century Communities Inc	48,411	$1.041M	0.2%	$16.71	+8.4%	COM	156504300
WASH	Washington Tr Bancorp	25,370	$1.02M	0.2%	$23.01	+7.4%	COM	940610108
AROW	Arrow Financial Corp	30,907	$1.015M	0.2%	$18.05	+12.0%	COM	042744102
PLUS	ePlus Inc	10,703	$1.01M	0.2%	$16.09	+35.4%	COM	294268107
—	Xinyuan Real Estate Co Ltd Sp	158,198	$1M	0.2%	$4.90	—	ADR	98417p105
—	MainSource Financial Group Inc	40,011	$998K	0.2%	$22.04	—	COM	56062y102
UNTY	Unity Bancorp Inc	77,654	$996K	0.2%	$8.99	+12.4%	COM	913290102
—	American Software Inc Cl A	89,758	$996K	0.2%	$10.28	—	COM	029683109
UTMD	Utah Med Prods Inc	16,525	$988K	0.2%	$56.13	+13.3%	COM	917488108
CIVB	Civista Bancshares Inc	69,612	$987K	0.2%	$11.18	0.0%	COM	178867107
—	Nova Measuring Instruments Ltd	83,436	$986K	0.2%	$11.03	—	ADR	m7516k103
—	Iradimed Corp	57,747	$981K	0.2%	$21.76	—	COM	46266a109
—	Xerium Technologies Inc	122,532	$974K	0.2%	$6.77	—	COM	98416j118
—	Sequential Brnds Group Inc	120,331	$963K	0.2%	$7.98	—	COM	81734p107
—	Stonegate Bank Ft Lauderdale F	28,409	$959K	0.2%	$30.78	—	COM	861811107
EFSC	Enterprise Financial Services	30,509	$953K	0.2%	$21.04	+19.1%	COM	293712105
—	RPX Corp	89,018	$952K	0.2%	$9.17	—	COM	74972g103
LKFN	Lakeland Financial Corp	26,822	$950K	0.2%	$23.13	+16.9%	COM	511656100
PETS	PetMed Express Inc	46,460	$942K	0.2%	$17.21	+17.1%	COM	716382106
—	Reis Inc	45,387	$929K	0.2%	$24.90	—	COM	75936p105
—	Fly Leasing Ltd Sp ADR	79,818	$925K	0.2%	$9.94	—	ADR	34407d109
KFRC	Kforce Inc	45,108	$924K	0.2%	$17.33	+7.5%	COM	493732101
—	NeoPhotonics Corp	56,320	$920K	0.2%	$9.53	—	COM	64051t100
—	Mesa Laboratories Inc	8,020	$917K	0.2%	$121.54	—	COM	59064r109
OFLX	Omega Flex Inc	23,740	$915K	0.2%	$34.46	+6.4%	COM	682095104
HIFS	Hingham Inst Savings MA	6,556	$908K	0.2%	$93.87	+26.0%	COM	433323102
—	LHC Group Inc	24,406	$900K	0.2%	$42.90	—	COM	50187a107
—	Lionbridge Technologies Inc	179,550	$898K	0.2%	$4.99	—	COM	536252109
—	Bryn Mawr Bank Corp	28,022	$896K	0.2%	$29.71	—	COM	117665109
—	BioSpecifics Technologies Corp	19,592	$895K	0.2%	$32.38	—	COM	090931106
—	EMC Ins Group Inc	33,170	$893K	0.2%	$27.95	—	COM	268664109
—	Landmark Bancorp Inc	33,664	$892K	0.2%	$25.34	—	COM	51504l107
—	Span America Med Systems Inc	48,201	$886K	0.2%	$18.41	—	COM	846396109
—	HCI Group Inc	29,027	$881K	0.2%	$27.28	—	COM	40416e103
—	West Bancorporation Inc Cap St	44,322	$869K	0.2%	$18.59	—	COM	95123p106
KINS	Kingstone Cos Inc	93,827	$866K	0.2%	$7.48	+0.9%	COM	496719105
TRNS	Transcat Inc	78,685	$861K	0.2%	$10.13	+2.3%	COM	893529107
BMRC	Bank of Marin Bancorp	17,129	$852K	0.2%	$18.04	+2.1%	COM	063425102
NPK	National Presto Industries Inc	9,603	$843K	0.2%	$74.77	+21.3%	COM	637215104
—	HDFC Bank Ltd ADR Reps 3	11,692	$841K	0.2%	$66.37	—	ADR	40415f101
—	Resources Connection Inc	56,211	$840K	0.2%	$14.94	—	COM	76122q105
—	NCI Inc Cl A	72,334	$837K	0.2%	$14.05	—	COM	62886k104
FISI	Financial Instns Inc	30,835	$836K	0.2%	$16.37	+9.2%	COM	317585404
—	Golub Cap BDC Inc	44,953	$835K	0.2%	$18.06	—	COM	38173m102
TCBK	Trico Bancshares	31,022	$830K	0.2%	$26.30	+2.1%	COM	896095106
INFY	Infosys Ltd Sp ADR	52,154	$823K	0.2%	$22.08	—	ADR	456788108
—	Almost Family Inc	22,306	$820K	0.2%	$44.96	—	COM	020409108
GTN	Gray Television Inc	78,998	$818K	0.2%	$11.53	-5.5%	COM	389375106
—	GP Strategies Corp	32,485	$800K	0.2%	$21.70	—	COM	36225v104
—	Mcbc Holdings Inc	70,018	$798K	0.2%	$11.40	—	COM	55276f107
ACNB	ACNB Corp	30,004	$798K	0.2%	$19.57	0.0%	COM	000868109
—	Diamond Hill Investment Group	4,301	$795K	0.2%	$188.46	—	COM	25264r207
—	Multi Color Corp	12,048	$795K	0.2%	$46.02	—	COM	625383104
—	New York Mtg Tr Inc	131,134	$789K	0.2%	$6.87	—	COM	649604501
CHCO	City Holding Co	15,667	$788K	0.2%	$33.03	+11.0%	COM	177835105
BCH	Banco de Chile Sp ADR	11,696	$787K	0.2%	$64.36	—	ADR	059520106
—	Penns Woods Bancorp Inc	17,085	$760K	0.2%	$42.56	—	COM	708430103
ALNT	Allied Motion Technologies Inc	39,457	$746K	0.2%	$13.65	+1.2%	COM	019330109
DGICA	Donegal Group Inc Cl A	46,007	$741K	0.2%	$10.90	0.0%	COM	257701201
WSFS	WSFS Financial Corp	20,006	$730K	0.2%	$28.41	+26.9%	COM	929328102
GSBC	Great Southern Bancorp Inc	17,805	$725K	0.2%	$39.28	+2.3%	COM	390905107
—	Pacific Insight Electronics Co	94,000	$723K	0.2%	$7.69	—	COM	69444e108
—	Globalscape Inc Com	199,166	$707K	0.2%	$3.66	—	COM	37940g109
CLMB	Wayside Technology Group Inc	39,441	$700K	0.2%	$11.55	+17.8%	COM	946760105
CPK	Chesapeake Utilities Corp	10,643	$650K	0.2%	$36.17	+49.0%	COM	165303108
—	Infusystem Holdings Inc	216,264	$601K	0.1%	$2.60	—	COM	45685k102
—	Vectrus Inc	38,208	$582K	0.1%	$15.23	—	COM	92242t101
—	Hollysys Automation Technologi	22,048	$489K	0.1%	$17.38	—	ADR	g45667105
—	Banco Santander Chile Sp ADR	23,200	$480K	0.1%	$20.69	—	ADR	05965x109
—	Companhia de Saneamento Basico	51,020	$472K	0.1%	$9.25	—	ADR	20441a102
—	Brookfield Asset Mgmt Inc Cl A	10,150	$357K	0.1%	$40.32	—	ADR	112585104
ELMD	Electromed Inc	70,000	$321K	0.1%	$4.53	0.0%	COM	285409108
—	Prudential PLC ADR	7,000	$250K	0.1%	$35.71	—	ADR	74435k204
FMS	Fresenius Med Care AG & Co KGA	5,470	$239K	0.1%	$43.69	—	ADR	358029106
—	Smith & Nephew PLC Sp ADR	6,150	$202K	0.0%	$32.85	—	ADR	83175m205