Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ICVT	ISHARES CONVERTIBLE BOND ETF	1,981,802	$102M	28.6%	$51.46	—	COM	46435G102
MPC	MARATHON PETROLEUM CORP	550,000	$27.8M	7.8%	$32.50	+16.4%	COM	56585A102
STLD	STEEL DYNAMICS INC	714,573	$24.84M	7.0%	$27.86	+6.5%	COM	858119100
WMB	WILLIAMS COMPANIES INC	830,000	$24.56M	6.9%	$18.11	-1.0%	COM	969457100
SEE	SEALED AIR CORP - NEW	500,000	$21.79M	6.1%	$39.58	+1.6%	COM	81211K100
—	ENCANA CORP	1,550,000	$18.15M	5.1%	$11.72	—	COM	292505104
VOO	VANGUARD S&P 500 ETF	76,877	$16.63M	4.7%	$187.67	—	COM	922908363
CTRA	CABOT OIL & GAS CORP	600,000	$14.35M	4.0%	$16.50	+0.4%	COM	127097103
VEA	VANGUARD FTSE DEVELOPED ETF	277,986	$10.93M	3.1%	$38.84	—	COM	921943858
NUE	NUCOR CORP	175,000	$10.45M	2.9%	$50.16	0.0%	COM	670346105
FCX	FREEPORT-MCMORAN INC	750,000	$10.02M	2.8%	$13.03	0.0%	COM	35671D857
TECK	TECK RESOURCES LTD-CLS B	350,000	$7.665M	2.2%	$22.35	0.0%	COM	878742204
HAL	HALLIBURTON CO	150,000	$7.382M	2.1%	$45.14	0.0%	COM	406216101
EPD	ENTERPRISE PRODUCTS PRTNS LP	250,000	$6.903M	1.9%	$27.61	—	COM	293792107
PKG	PACKAGING CORP OF AMERICA	72,533	$6.645M	1.9%	$70.61	0.0%	COM	695156109
—	WESTROCK CO-WHEN ISSUED	100,000	$5.203M	1.5%	$52.03	—	COM	96145D105
—	PRAXAIR INC	35,000	$4.151M	1.2%	$118.60	—	COM	74005P104
VNQ	VANGUARD REIT ETF	48,600	$4.014M	1.1%	$82.59	—	COM	922908553
VB	VANGUARD SMALL-CAP ETF	22,069	$2.941M	0.8%	$113.33	—	COM	922908751
STZ	CONSTELLATION BRANDS INC-A	10,000	$1.621M	0.5%	$135.96	0.0%	COM	21036P108
SJM	SMUCKER (J.M.) CO-NEW CO	10,000	$1.311M	0.4%	$102.94	0.0%	COM	832696405
—	TURQUOISE HILL RESOURCES LTD	399,500	$1.226M	0.3%	$3.07	—	COM	900435108
SATS	ECHOSTAR CORP-A	19,610	$1.117M	0.3%	$39.77	+9.7%	COM	278768106
AIN	ALBANY INTL CORP-CL A	23,246	$1.07M	0.3%	$32.27	+29.3%	COM	012348108
EWP	ISHARES MSCI SPAIN INDEX FUND	34,358	$1.045M	0.3%	$36.85	—	COM	464286764
—	SYNOVUS FINANCIAL CORP	24,551	$1.007M	0.3%	$24.13	—	COM	87161C501
GOOGL	ALPHABET INC-CL A	1,000	$848K	0.2%	$41.73	0.0%	COM	02079K305
—	FOREST CITY REALTY TRUST- A	37,359	$814K	0.2%	$21.21	—	COM	345605109
VWO	VANGUARD EMERGING MARKET	20,290	$806K	0.2%	$35.00	—	COM	922042858
—	CAPITAL BANK FINANCIAL-CL A	18,379	$798K	0.2%	$32.36	—	COM	139794101
PRI	PRIMERICA INC	9,035	$743K	0.2%	$48.71	+60.1%	COM	74164M108
AIZ	ASSURANT INC	7,335	$702K	0.2%	$53.23	+53.0%	COM	04621X108
MUSA	MURPHY USA INC	9,028	$663K	0.2%	$56.27	+13.9%	COM	626755102
VRTS	VIRTUS INVESTMENT PARTNERS	6,263	$663K	0.2%	$59.85	+44.4%	COM	92828Q109
—	COLONY NORTHSTAR INC-CLASS A	48,348	$624K	0.2%	$12.91	—	COM	19625W104
—	DELTIC TIMBER CORP	7,877	$615K	0.2%	$68.18	—	COM	247850100
MGRC	MCGRATH RENTCORP	18,325	$615K	0.2%	$34.08	+7.0%	COM	580589109
NPO	ENPRO INDUSTRIES INC	8,570	$610K	0.2%	$67.28	-1.5%	COM	29355X107
ATNI	ATLANTIC TELE-NETWORK INC	8,626	$607K	0.2%	$58.88	+5.1%	COM	00215F107
—	MFA FINANCIAL INC	69,822	$564K	0.2%	$7.62	—	COM	55272X102
—	REGIS CORP	45,180	$530K	0.1%	$12.54	—	COM	758932107
NXST	NEXSTAR MEDIA GROUP INC	7,535	$529K	0.1%	$40.88	+28.4%	COM	65336K103
ARCC	AREC CAPITAL CORP	29,944	$520K	0.1%	$7.44	0.0%	COM	04010L103
—	NEENAH PAPER INC	6,710	$501K	0.1%	$54.93	—	COM	640079109
PARR	PAR PACIFIC HOLDINGS INC	30,183	$498K	0.1%	$18.16	-17.8%	COM	69888T207
—	CONTINENTAL BUILDING PRODUCT	19,755	$484K	0.1%	$23.53	—	COM	211171103
—	DENNY'S CORPORATION	38,971	$482K	0.1%	$7.40	—	COM	24869P104
BR	BROADRIDGE FINANCIAL SOLUTIO	6,955	$473K	0.1%	$33.89	+72.1%	COM	11133T103
—	ALTISOURCE RESIDENTI-CL B-WI	30,812	$470K	0.1%	$15.25	—	COM	02153W100
KAI	KADANT INC	7,493	$445K	0.1%	$35.46	+60.5%	COM	48282T104
CTS	CTS CORP	20,565	$438K	0.1%	$16.53	+28.0%	COM	126501105
—	CORE-MARK HOLDING CO INC	13,814	$431K	0.1%	$50.05	—	COM	218681104
TFSL	TFS FINANCIAL CORP	24,510	$407K	0.1%	$7.25	+32.4%	COM	87240R107
MMS	MAXIMUS INC	6,527	$406K	0.1%	$52.59	+11.8%	COM	577933104
—	NATIONAL GENERAL HLDGS	15,350	$365K	0.1%	$19.16	—	COM	636220303
CLW	CLEARWATER PAPER CORP	6,260	$351K	0.1%	$65.51	-9.6%	COM	18538R103
—	DIGITALGLOBE INC	10,721	$351K	0.1%	$25.91	—	COM	25389M877
OCFC	OCEANFIRST FINANCIAL CORP	12,430	$350K	0.1%	$13.00	+60.7%	COM	675234108
XHR	XENIA HOTELS & RESORTS INC	20,325	$347K	0.1%	$19.43	—	COM	984017103
KBE	SPDR S&P BANK ETF	8,003	$344K	0.1%	$32.79	—	COM	78464A797
—	PROVIDENCE SERVICE CORP	7,705	$342K	0.1%	$49.64	—	COM	743815102
NBHC	NATIONAL BANK HOLD-CL A	9,365	$304K	0.1%	$26.22	0.0%	COM	633707104
—	LORAL SPACE & COMMUNICATIONS	7,585	$299K	0.1%	$39.42	—	COM	543881106
—	DST SYSTEMS INC	2,420	$296K	0.1%	$112.49	—	COM	233326107
CASY	CASEYS GENERAL STORES INC	2,567	$288K	0.1%	$64.98	+65.3%	COM	147528103
RNST	RENASANT CORP	7,193	$285K	0.1%	$30.71	+31.7%	COM	75970E107
—	PACIFIC PREMIER BANCORP INC	6,871	$265K	0.1%	$35.35	—	COM	69478X105
SSD	SIMPSON MANUFACTURING CO INC	5,909	$255K	0.1%	$39.37	0.0%	COM	829073105
TGNA	TEGNA INC	9,657	$247K	0.1%	$15.38	0.0%	COM	87901J105
—	CARLYLE GROUP/THE	13,899	$222K	0.1%	$15.97	—	COM	14309L102
FSS	FEDERAL SIGNAL CORP	13,330	$184K	0.1%	$13.80	+0.2%	COM	313855108
SGU	STAR GAS PARTNERS L.P.	11,755	$108K	0.0%	$10.07	0.0%	COM	85512C105