Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SAP	Sap SE Sp ADR	165,011	$17.27M	4.7%	$79.42	—	ADR	803054204
—	Netease Inc Sp ADR	37,842	$11.38M	3.1%	$193.22	—	ADR	64110w102
—	Alibaba Group Holding Ltd Sp A	72,526	$10.22M	2.8%	$126.75	—	ADR	01609w102
TSM	Taiwan Semiconductor Mfg Ltd S	246,111	$8.604M	2.3%	$24.53	—	ADR	874039100
—	China Biologic Prods Inc	67,922	$7.682M	2.1%	$106.32	—	ADR	16938c106
—	Accenture PLC Ireland Class A	36,058	$4.46M	1.2%	$113.29	—	ADR	g1151c101
—	TE Connectivity Ltd Reg	46,235	$3.638M	1.0%	$65.29	—	ADR	h84989104
—	Delphi Automotive PLC	38,841	$3.404M	0.9%	$62.80	—	ADR	g27823106
—	Broadcom Ltd	14,253	$3.322M	0.9%	$155.40	—	ADR	y09827109
TM	Toyota Motor Corp Sp ADR 2	26,261	$2.758M	0.8%	$119.87	—	ADR	892331307
—	Relx NV Sp ADR	132,331	$2.737M	0.7%	$17.41	—	ADR	75955b102
—	Groupe CGI Inc Cl A	51,683	$2.639M	0.7%	$42.71	—	ADR	39945c109
—	UnitedHealth Group Inc	14,193	$2.632M	0.7%	$141.20	—	COM	91324p102
—	Silicon Motion Technology Corp	54,480	$2.628M	0.7%	$47.53	—	ADR	82706c108
MTD	Mettler Toledo International	4,425	$2.604M	0.7%	$478.85	+14.4%	COM	592688105
—	MasterCard Inc Cl A	21,088	$2.561M	0.7%	$88.07	—	COM	57636q104
APH	Amphenol Corp Cl A	34,424	$2.541M	0.7%	$13.53	+24.3%	COM	032095101
SNPS	Synopsys Inc	34,828	$2.54M	0.7%	$52.01	+41.4%	COM	871607107
CAE	CAE Inc	143,804	$2.479M	0.7%	$12.92	+18.7%	COM	124765108
AAPL	Apple Inc	17,046	$2.455M	0.7%	$27.88	+23.1%	COM	037833100
LEA	Lear Corp	17,060	$2.424M	0.7%	$87.39	+36.8%	COM	521865204
FISV	Fiserv Inc	19,732	$2.414M	0.7%	$32.63	+85.4%	COM	337738108
—	Comcast Corp Cl A	61,846	$2.407M	0.7%	$56.36	—	COM	20030n101
MCO	Moodys Corp	19,474	$2.37M	0.6%	$77.00	+40.6%	COM	615369105
ITUB	Itau Unibanco Holding SA Sp AD	214,327	$2.368M	0.6%	$11.91	—	COM	465562106
JNJ	Johnson & Johnson	17,821	$2.358M	0.6%	$73.15	+37.2%	COM	478160104
—	AON PLC Cl A	17,732	$2.358M	0.6%	$111.54	—	COM	g0408v102
SWK	Stanley Black & Decker Inc	16,740	$2.356M	0.6%	$78.58	+38.3%	COM	854502101
—	Sirius XM Holdings Inc	429,884	$2.351M	0.6%	$5.47	—	COM	82968b103
—	Lam Research Corp	16,606	$2.349M	0.6%	$92.89	—	COM	512807108
DSGX	Descartes Systems Group Inc	95,789	$2.332M	0.6%	$18.90	+26.3%	ADR	249906108
PEP	PepsiCo Inc	20,080	$2.319M	0.6%	$72.72	+21.3%	COM	713448108
CCK	Crown Holdings Inc	38,802	$2.315M	0.6%	$50.98	+5.2%	COM	228368106
ITW	Illinois Tool Works Inc	16,098	$2.306M	0.6%	$92.87	+22.0%	COM	452308109
—	FedEx Corp	10,585	$2.3M	0.6%	$195.17	—	COM	31428x106
—	Quintiles Transnatio Holdings	25,649	$2.296M	0.6%	$80.94	—	COM	74876y101
—	Icon PLC	23,264	$2.275M	0.6%	$70.01	—	ADR	g4705a100
SYK	Stryker Corp	16,199	$2.248M	0.6%	$88.14	+41.6%	COM	863667101
FMS	Fresenius Med Care AG & Co KGA	46,315	$2.238M	0.6%	$47.77	—	ADR	358029106
—	Check Point Software Tech Ltd	20,478	$2.234M	0.6%	$109.09	—	ADR	m22465104
—	Facebook Inc Cl A	14,676	$2.216M	0.6%	$150.99	—	COM	30303m102
GD	General Dynamics Corp	11,158	$2.21M	0.6%	$90.04	+79.9%	COM	369550108
—	Verisk Analytics Inc	26,127	$2.204M	0.6%	$81.09	—	COM	92345y106
ABBNY	ABB Ltd Sp ADR	88,025	$2.192M	0.6%	$19.47	—	ADR	000375204
—	Raytheon Co	13,505	$2.181M	0.6%	$138.63	—	COM	755111507
—	Diageo PLC Sp ADR	18,176	$2.178M	0.6%	$112.93	—	ADR	25243q205
—	Cisco Systems Inc	69,420	$2.173M	0.6%	$29.47	—	COM	17275r102
EFX	Equifax Inc	15,789	$2.17M	0.6%	$88.82	+42.8%	COM	294429105
—	Exelon Corp	60,058	$2.166M	0.6%	$35.50	—	COM	30161n101
CM	Canadian Imperial Bank Comm To	26,322	$2.136M	0.6%	$28.16	-4.9%	COM	136069101
DHR	Danaher Corp	25,292	$2.134M	0.6%	$30.67	+134.0%	COM	235851102
OMC	Omnicom Group Inc	25,696	$2.13M	0.6%	$45.48	+35.1%	COM	681919106
—	Companhia de Saneamento Basico	223,296	$2.126M	0.6%	$8.77	—	ADR	20441a102
—	Nova Measuring Instruments Ltd	93,989	$2.076M	0.6%	$14.09	—	ADR	m7516k103
BTI	British American Tobacco PLC S	30,118	$2.064M	0.6%	$98.00	—	ADR	110448107
PFE	Pfizer Inc	61,370	$2.061M	0.6%	$18.71	+15.5%	COM	717081103
MGA	Magna Intl Inc	44,041	$2.04M	0.6%	$33.44	+0.1%	COM	559222401
RY	Royal Bank of Canada Montreal	27,297	$1.98M	0.5%	$51.99	+34.9%	ADR	780087102
—	KT Corp Sp ADR	117,675	$1.958M	0.5%	$16.64	—	ADR	48268k101
—	LyondellBasell Industries NV A	23,120	$1.951M	0.5%	$85.77	—	ADR	n53745100
DIS	Disney Walt Co Disney	17,984	$1.911M	0.5%	$83.17	+23.2%	COM	254687106
—	NTT Docomo Inc Sp ADR	77,629	$1.836M	0.5%	$25.41	—	ADR	62942m201
—	S&P Global Inc	12,000	$1.752M	0.5%	$107.26	—	COM	78409v104
—	Chunghwa Telecom Co Ltd Sp ADR	49,589	$1.747M	0.5%	$35.81	—	ADR	17133q502
WINA	Winmark Corp	13,071	$1.685M	0.5%	$81.12	+56.0%	COM	974250102
—	Mcbc Holdings Inc	82,718	$1.617M	0.4%	$11.97	—	COM	55276f107
FONR	Fonar Corp	58,181	$1.615M	0.4%	$13.67	+67.8%	COM	344437405
ARW	Arrow Electronics Inc	20,525	$1.61M	0.4%	$64.59	+15.7%	COM	042735100
—	Wyndham Worldwide Corp	16,000	$1.607M	0.4%	$100.44	—	COM	98310w108
—	Oracle Corp	31,861	$1.598M	0.4%	$40.66	—	COM	68389x105
—	Chase Corp	14,587	$1.556M	0.4%	$59.09	—	COM	16150r104
—	Ingersoll-Rand PLC	17,001	$1.554M	0.4%	$81.33	—	COM	g47791101
—	Novanta Inc	43,089	$1.551M	0.4%	$15.44	—	ADR	67000b104
ECL	Ecolab Inc	11,600	$1.54M	0.4%	$98.12	+19.9%	COM	278865100
IT	Gartner Inc	12,436	$1.536M	0.4%	$85.30	+36.1%	COM	366651107
—	Kadant Inc	20,010	$1.505M	0.4%	$51.49	—	COM	48282t104
ROP	Roper Technologies Inc	6,470	$1.498M	0.4%	$149.30	+40.9%	COM	776696106
—	Visa Inc Cl A	15,951	$1.496M	0.4%	$74.19	—	COM	92826c839
CBZ	CBIZ Inc	99,552	$1.493M	0.4%	$9.23	+62.2%	COM	124805102
—	Allegion Pub Ltd Co	18,110	$1.469M	0.4%	$64.02	—	COM	g0176j109
—	Everest Reinsurance Group Ltd	5,770	$1.469M	0.4%	$254.59	—	ADR	g3223r108
TMO	Thermo Fisher Scientific Inc	8,390	$1.464M	0.4%	$164.09	0.0%	COM	883556102
—	WNS Holdings Ltd Sp ADR	42,501	$1.46M	0.4%	$27.46	—	ADR	92932m101
PETS	PetMed Express Inc	35,957	$1.46M	0.4%	$17.21	+80.1%	COM	716382106
HON	Honeywell Intl Inc	10,900	$1.453M	0.4%	$72.17	+36.8%	COM	438516106
—	Sucampo Pharmaceuticals Inc Cl	138,032	$1.449M	0.4%	$11.18	—	COM	864909106
LNTH	Lantheus Holdings Inc	82,028	$1.448M	0.4%	$9.44	+55.9%	COM	516544103
PPG	PPG Industries Inc	13,100	$1.44M	0.4%	$92.15	0.0%	COM	693506107
NATH	Nathans Famous Inc	22,787	$1.436M	0.4%	$43.68	+48.9%	COM	632347100
—	Vantiv Inc Cl A	22,629	$1.433M	0.4%	$56.61	—	COM	92210h105
—	Credicorp Ltd	7,973	$1.43M	0.4%	$154.92	—	ADR	g2519y108
—	Spark Energy Inc Cl A	76,021	$1.429M	0.4%	$26.39	—	COM	846511103
TXN	Texas Instruments Inc	18,567	$1.428M	0.4%	$37.15	+70.0%	COM	882508104
BA	Boeing Co	7,218	$1.427M	0.4%	$174.89	0.0%	COM	097023105
—	Priceline Group Inc	762	$1.425M	0.4%	$1870.08	—	COM	741503403
—	Psychemedics Corp	57,015	$1.423M	0.4%	$24.96	—	COM	744375205
—	Adobe Systems Inc	10,030	$1.419M	0.4%	$141.48	—	COM	00724f101
TLK	P T Telekomunikasi Indonesia S	41,779	$1.407M	0.4%	$40.04	—	ADR	715684106
OFLX	Omega Flex Inc	21,740	$1.4M	0.4%	$34.46	+67.6%	COM	682095104
—	Insurance Holdings Inc	54,698	$1.378M	0.4%	$18.58	—	COM	91359v107
—	Almost Family Inc	22,306	$1.375M	0.4%	$44.96	—	COM	020409108
—	LHC Group Inc	20,206	$1.372M	0.4%	$42.90	—	COM	50187a107
AME	Ametek Inc	22,600	$1.369M	0.4%	$50.18	+10.9%	COM	031100100
—	Argan Inc	22,609	$1.357M	0.4%	$41.71	—	COM	04010e109
—	Ari Network Services Inc	191,042	$1.347M	0.4%	$5.40	—	COM	001930205
UGI	UGI Corp	27,557	$1.334M	0.4%	$34.39	+44.6%	COM	902681105
—	Merck & Co Inc	20,684	$1.326M	0.4%	$58.85	—	COM	58933y105
HSIC	Schein Henry Inc	7,210	$1.32M	0.4%	$57.21	+21.8%	COM	806407102
—	Vectrus Inc	40,708	$1.316M	0.4%	$15.76	—	COM	92242t101
KINS	Kingstone Cos Inc	85,828	$1.313M	0.4%	$7.48	+72.7%	COM	496719105
HCKT	Hackett Group Inc	83,904	$1.301M	0.4%	$10.37	+63.4%	COM	404609109
PLUS	ePlus Inc	17,405	$1.29M	0.4%	$25.01	+44.9%	COM	294268107
—	State Natl Cos Inc	70,018	$1.287M	0.4%	$14.40	—	COM	85711t305
—	Medifast Inc	31,008	$1.286M	0.4%	$35.04	—	COM	58470h101
—	Jernigan Cap Inc	58,011	$1.276M	0.3%	$22.00	—	COM	476405105
—	Douglas Dynamics Inc	38,610	$1.27M	0.3%	$25.74	—	COM	25960r105
CLMB	Wayside Technology Group Inc	65,449	$1.266M	0.3%	$12.93	+19.8%	COM	946760105
—	Banco Macro SA Sp ADR B	13,676	$1.261M	0.3%	$74.94	—	ADR	05961w105
—	IHS Markit Ltd	28,470	$1.254M	0.3%	$37.55	—	COM	g47567105
—	Consolidated Tomoka Land Co	22,005	$1.253M	0.3%	$56.94	—	COM	210226106
—	B Riley Financial Inc	67,013	$1.243M	0.3%	$18.55	—	COM	05580m108
—	RPX Corp	89,018	$1.242M	0.3%	$9.17	—	COM	74972g103
—	Nv5 Global Inc	29,026	$1.234M	0.3%	$28.43	—	COM	62945v109
—	Natural Health Trends Corp	44,066	$1.227M	0.3%	$28.19	—	COM	63888p406
—	Ani Pharmaceuticals Inc	26,005	$1.217M	0.3%	$52.29	—	COM	00182c103
—	Great Ajax Corp	86,824	$1.214M	0.3%	$13.87	—	COM	38983d300
CIVB	Civista Bancshares Inc	58,018	$1.211M	0.3%	$11.18	+49.6%	COM	178867107
UNTY	Unity Bancorp Inc	70,054	$1.205M	0.3%	$8.99	+59.7%	COM	913290102
EARN	Ellington Residential Mtg REIT	82,019	$1.202M	0.3%	$14.66	—	COM	288578107
—	Stonegate Bank Ft Lauderdale F	26,007	$1.201M	0.3%	$30.78	—	COM	861811107
CCS	Century Communities Inc	48,411	$1.201M	0.3%	$16.71	+44.8%	COM	156504300
UTMD	Utah Med Prods Inc	16,525	$1.196M	0.3%	$56.13	+17.2%	COM	917488108
HIFS	Hingham Inst Savings MA	6,556	$1.193M	0.3%	$93.87	+71.0%	COM	433323102
—	Bryn Mawr Bank Corp	28,023	$1.191M	0.3%	$29.71	—	COM	117665109
—	Access National Corp	44,809	$1.188M	0.3%	$20.66	—	COM	004337101
—	Fortive Corp	18,650	$1.181M	0.3%	$50.89	—	COM	34959j108
FFIV	F5 Networks Inc	9,250	$1.175M	0.3%	$135.48	-3.3%	COM	315616102
—	Globalscape Inc Com	219,166	$1.159M	0.3%	$3.81	—	COM	37940g109
—	Mesa Laboratories Inc	8,020	$1.149M	0.3%	$121.54	—	COM	59064r109
UVSP	Univest Corp PA	38,113	$1.141M	0.3%	$19.88	+44.3%	COM	915271100
—	Globant SA	26,089	$1.133M	0.3%	$39.35	—	ADR	l44385109
—	Meet Group Inc	223,048	$1.126M	0.3%	$5.89	—	COM	58513u101
—	Avid Technology Inc	211,355	$1.112M	0.3%	$5.42	—	COM	05367p100
UTL	Unitil Corp	23,004	$1.111M	0.3%	$44.93	+5.7%	COM	913259107
—	MainSource Financial Group Inc	33,011	$1.106M	0.3%	$22.04	—	COM	56062y102
—	Whitehorse Fin Inc	82,021	$1.097M	0.3%	$13.37	—	COM	96524v106
TCBK	Trico Bancshares	31,022	$1.09M	0.3%	$26.30	+34.0%	COM	896095106
ADUS	Addus Homecare Corp	29,208	$1.087M	0.3%	$35.96	0.0%	COM	006739106
—	Perficient Inc	58,116	$1.083M	0.3%	$20.32	—	COM	71375u101
GTN	Gray Television Inc	78,998	$1.082M	0.3%	$11.53	+17.1%	COM	389375106
OLP	One Liberty Properties Inc	46,012	$1.078M	0.3%	$24.93	—	COM	682406103
WASH	Washington Tr Bancorp	20,905	$1.078M	0.3%	$23.01	+36.3%	COM	940610108
ALNT	Allied Motion Technologies Inc	39,457	$1.074M	0.3%	$13.65	+17.5%	COM	019330109
NPK	National Presto Industries Inc	9,603	$1.061M	0.3%	$74.77	+41.2%	COM	637215104
EFSC	Enterprise Financial Services	26,007	$1.061M	0.3%	$21.04	+68.6%	COM	293712105
—	Landmark Bancorp Inc	35,347	$1.06M	0.3%	$25.47	—	COM	51504l107
NX	Quanex Building Products Corp	50,011	$1.058M	0.3%	$17.47	+2.2%	COM	747619104
BMRC	Bank of Marin Bancorp	17,129	$1.054M	0.3%	$18.04	+32.4%	COM	063425102
—	Goldfield Corp	191,021	$1.051M	0.3%	$5.50	—	COM	381370105
EMN	Eastman Chem Co	12,501	$1.05M	0.3%	$60.32	0.0%	COM	277432100
—	West Bancorporation Inc Cap St	44,322	$1.048M	0.3%	$18.59	—	COM	95123p106
—	US Physical Therapy Inc	17,227	$1.041M	0.3%	$60.20	—	COM	90337l108
—	Ichor Holdings	51,007	$1.028M	0.3%	$20.15	—	COM	g4740b105
—	Entercom Communications Corp C	98,730	$1.022M	0.3%	$12.23	—	COM	293639100
—	Insteel Industries Inc	31,008	$1.022M	0.3%	$28.61	—	COM	45774w108
—	Tata Motors Ltd Sp ADR	30,505	$1.007M	0.3%	$35.66	—	ADR	876568502
MRCC	Monroe Cap Corp	66,013	$1.005M	0.3%	$5.48	+1.9%	COM	610335101
FDUS	Fidus Inv Corp	59,016	$993K	0.3%	$6.21	+5.1%	COM	316500107
—	AV Homes Inc	49,000	$982K	0.3%	$20.04	—	COM	00234p102
—	BioSpecifics Technologies Corp	19,592	$970K	0.3%	$32.38	—	COM	090931106
—	Stoneridge Inc	62,859	$969K	0.3%	$17.04	—	COM	86183p102
ANIK	Anika Therapeutics Inc	19,545	$964K	0.3%	$47.09	-2.2%	COM	035255108
RDNT	RadNet Inc	124,014	$961K	0.3%	$6.81	0.0%	COM	750491102
TRNS	Transcat Inc	78,685	$956K	0.3%	$10.13	+18.9%	COM	893529107
—	Xerium Technologies Inc	133,032	$956K	0.3%	$6.74	—	COM	98416j118
GSBC	Great Southern Bancorp Inc	17,805	$953K	0.3%	$39.28	+29.4%	COM	390905107
—	Willdan Group Inc	31,005	$947K	0.3%	$30.54	—	COM	96924n100
—	Omega Protein Corp	52,914	$947K	0.3%	$20.00	—	COM	68210p107
—	American Software Inc Cl A	89,759	$924K	0.3%	$10.28	—	COM	029683109
—	EMC Ins Group Inc	33,171	$921K	0.3%	$27.95	—	COM	268664109
FISI	Financial Instns Inc	30,835	$919K	0.3%	$16.37	+32.0%	COM	317585404
HNNA	Hennessy Advisors Inc	60,485	$918K	0.3%	$19.12	-16.0%	COM	425885100
SYBT	Stock Yds Bancorp Inc	23,557	$916K	0.3%	$25.58	+51.9%	COM	861025104
ACNB	ACNB Corp	30,008	$915K	0.2%	$19.57	+15.3%	COM	000868109
—	Xinyuan Real Estate Co Ltd Sp	170,045	$881K	0.2%	$4.86	—	ADR	98417p105
—	Blue Cap Reins Holdings Ltd	48,017	$879K	0.2%	$18.55	—	COM	g1190f107
—	CRH Medical Corp	153,035	$872K	0.2%	$3.91	—	COM	12626f105
—	Nanometrics Inc	34,007	$860K	0.2%	$29.24	—	COM	630077105
DGICA	Donegal Group Inc Cl A	54,013	$859K	0.2%	$10.95	+2.4%	COM	257701201
—	Diamond Hill Investment Group	4,301	$858K	0.2%	$188.46	—	COM	25264r207
—	GP Strategies Corp	32,485	$858K	0.2%	$21.70	—	COM	36225v104
VSEC	VSE Corp	19,000	$855K	0.2%	$39.95	0.0%	COM	918284100
KFRC	Kforce Inc	43,108	$845K	0.2%	$17.33	+16.0%	COM	493732101
CRWS	Crown Crafts Inc	120,628	$838K	0.2%	$4.19	-3.6%	COM	228309100
CHCO	City Holding Co	12,656	$834K	0.2%	$33.03	+55.4%	COM	177835105
—	Supreme Industries Inc Cl A	50,010	$823K	0.2%	$20.26	—	COM	868607102
—	Scripps Networks Interact Inc	12,027	$822K	0.2%	$78.39	—	COM	811065101
—	New York Mtg Tr Inc	131,138	$816K	0.2%	$6.87	—	COM	649604501
—	Spectrum Brands Holdings Inc	6,442	$805K	0.2%	$137.68	—	COM	84763r101
HWKN	Hawkins Inc	17,000	$788K	0.2%	$24.14	0.0%	COM	420261109
—	HDFC Bank Ltd ADR Reps 3	8,800	$765K	0.2%	$66.37	—	ADR	40415f101
—	Exxon Mobile Corp	9,235	$746K	0.2%	$81.87	—	COM	30231g102
—	AT&T Inc	19,229	$726K	0.2%	$40.61	—	COM	00206r102
—	Penns Woods Bancorp Inc	17,085	$704K	0.2%	$42.56	—	COM	708430103
—	Advanced Semiconductor Engr Sp	107,182	$676K	0.2%	$5.70	—	ADR	00756m404
—	Silicom Ltd	14,804	$657K	0.2%	$41.07	—	COM	m84116108
WFC	Wells Fargo & Co	11,675	$647K	0.2%	$44.36	-4.9%	COM	949746101
USB	US Bancorp Del	11,668	$606K	0.2%	$38.07	-2.9%	COM	902973304
BCH	Banco de Chile Sp ADR	7,129	$556K	0.2%	$64.36	—	ADR	059520106
—	Discover Financial Services	8,863	$551K	0.2%	$72.09	—	COM	254709108
INFY	Infosys Ltd Sp ADR	35,284	$530K	0.1%	$15.02	—	ADR	456788108
—	Applied Genetic Technology Cor	86,019	$439K	0.1%	$5.10	—	COM	03820j100
—	Banco Santander Chile Sp ADR	12,480	$317K	0.1%	$20.69	—	ADR	05965x109
CIGI	Colliers Intl Group Inc	5,000	$282K	0.1%	$41.92	+21.3%	ADR	194693107
—	KB Financial Group Inc Sp ADR	5,561	$281K	0.1%	$43.99	—	ADR	48241a105
—	Brookfield Asset Mgmt Inc Cl A	7,150	$280K	0.1%	$40.32	—	ADR	112585104
AZN	AstraZeneca PLC Sp ADR	7,900	$269K	0.1%	$34.05	—	ADR	046353108
ING	ING Groep NV Sp ADR	14,300	$249K	0.1%	$17.41	—	ADR	456837103