Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR S&P500 ETF TRUST	1,000,000	$263M	33.8%	—	—	Call	78462F103
ICVT	ISHARES CONVERTIBLE BOND ETF	3,000,050	$169M	21.7%	$53.06	—	COM	46435G102
XLF	AMEX FINANCIAL SELECT SPDR IDX	1,820,000	$50.18M	6.4%	$27.57	—	Put	81369Y605
XLF	AMEX FINANCIAL SELECT SPDR IDX	1,820,000	$50.18M	6.4%	$27.57	—	Call	81369Y605
EEMV	ISHARES EDGE MSCI MIN VOL EMER	391,257	$24.39M	3.1%	$62.34	—	COM	464286533
COPX	GLOBAL X COPPER MINERS ETF	855,593	$22.23M	2.9%	$26.42	—	COM	37954Y830
FXI	ISHARES FTSE CHINA 25 INDEX FU	460,000	$21.73M	2.8%	$47.24	—	COM	464287184
SHW	SHERWIN WILLIAMS	38,250	$15M	1.9%	$127.08	0.0%	COM	824348106
BUD	ANHEUSER-BUSCH INBEV SPN ADR	130,000	$14.29M	1.8%	$109.94	—	ADR	03524A108
DEO	DIAGEO PLC-SPONSORED ADR	93,356	$12.64M	1.6%	$146.03	—	ADR	25243Q205
EWJ	ISHARES MSCI JAPAN IDX	190,000	$11.53M	1.5%	$60.24	—	COM	46434G822
NEXA	NEXA RESOURCES SA	389,066	$6.813M	0.9%	$13.78	+8.7%	COM	L67359106
—	VALIDUS HOLDINGS LTD	97,800	$6.597M	0.8%	$67.45	—	COM	G9319H102
KWEB	KRANESHARES CSI CHINA INTERN	102,400	$6.29M	0.8%	$61.43	—	COM	500767306
CAAP	CORP AMERICA AIRPORTS SA	485,000	$5.985M	0.8%	$14.93	0.0%	COM	L1995B107
—	BRF - BRASIL FODDS SA-ADR	800,000	$5.536M	0.7%	$6.92	—	ADR	10552T107
—	POWERSHARES S&P 500 LOW VOLA	100,000	$4.697M	0.6%	$47.74	—	COM	73937B779
IGV	ISHARES NORTH AMERICAN TECH-	26,000	$4.412M	0.6%	$169.69	—	COM	464287515
GOOGL	ALPHABET INC-CL A	3,500	$3.63M	0.5%	$55.03	0.0%	COM	02079K305
CRM	SALESFORCE.COM INC	30,000	$3.489M	0.4%	$104.43	+8.6%	COM	79466L302
NFLX	NETFLIX INC	10,000	$2.954M	0.4%	$27.22	0.0%	COM	64110L106
—	ARISTA NETWORKS INC	11,200	$2.859M	0.4%	$255.27	—	COM	040413106
SOXX	ISHARES PHLX SOX SEMICONDUCT	15,000	$2.701M	0.3%	$180.07	—	COM	464287523
—	RAYTHEON COMPANY	12,146	$2.621M	0.3%	$186.59	—	COM	755111507
ADBE	ADOBE SYSTEMS INC	12,000	$2.593M	0.3%	$136.92	+48.5%	COM	00724F101
NOC	NORTHROP GRUMMAN CORP	7,407	$2.586M	0.3%	$234.97	+25.3%	COM	666807102
GD	GENERAL DYNAMICS CORP	11,368	$2.511M	0.3%	$166.44	+9.3%	COM	369550108
NOW	SERVICENOW INC	15,000	$2.482M	0.3%	$30.87	0.0%	COM	81762P102
LMT	LOCKHEED MARTIN CORP	7,131	$2.41M	0.3%	$238.57	+15.5%	COM	539830109
BTI	BRITISH AMER TOBACCO PLC - ADR	39,000	$2.25M	0.3%	$57.69	—	ADR	110448107
ARMK	ARAMARK	55,801	$2.207M	0.3%	$25.35	+9.5%	COM	03852U106
XLI	INDUSTRIAL SELECT SECT SPDR	28,787	$2.139M	0.3%	$74.30	—	ETF	81369Y704
AIN	ALBANY INTL CORP-CL A	32,047	$2.009M	0.3%	$38.94	+49.1%	COM	012348108
SATS	ECHOSTAR CORP-A	30,063	$1.586M	0.2%	$42.22	+12.7%	COM	278768106
MGRC	MCGRATH RENTCORP	27,642	$1.484M	0.2%	$38.10	+31.1%	COM	580589109
—	DELL TECHNOLOGIES-CL V W/I	20,000	$1.464M	0.2%	$73.20	—	COM	24703L103
GLIN	VANECK VECTORS INDIA SMALL-C	22,697	$1.298M	0.2%	$57.19	—	COM	92189F767
WDAY	WORKDAY INC-CLASS A	10,000	$1.271M	0.2%	$122.34	0.0%	COM	98138H101
SSD	SIMPSON MANUFACTURING CO INC	21,820	$1.257M	0.2%	$45.38	+17.7%	COM	829073105
VRTS	VIRTUS INVESTMENT PARTNERS	9,490	$1.175M	0.2%	$71.85	+38.2%	COM	92828Q109
XLF	AMEX FINANCIAL SELECT SPDR IDX	42,300	$1.166M	0.1%	$27.57	—	COM	81369Y605
NXST	NEXSTAR MEDIA GROUP INC	16,478	$1.096M	0.1%	$47.83	+22.7%	COM	65336K103
PRI	PRIMERICA INC	11,197	$1.082M	0.1%	$60.99	+64.7%	COM	74164M108
—	CONTINENTAL BUILDING PRODUCT	35,929	$1.026M	0.1%	$25.44	—	COM	211171103
BKU	BANKUNITED INC	25,675	$1.026M	0.1%	$27.77	+15.8%	COM	06652K103
FCX	FREEPORT-MCMORAN INC	54,400	$956K	0.1%	$13.68	+24.4%	COM	35671D857
TECK	TECK RESOURCES LTD-CLS B	36,765	$947K	0.1%	$22.79	+23.7%	COM	878742204
—	TURQUOISE HILL RESOURCES LTD	303,000	$930K	0.1%	$3.07	—	COM	900435108
AIZ	ASSURANT INC	10,010	$915K	0.1%	$63.44	+24.0%	COM	04621X108
—	DENNY'S CORPORATION	58,168	$898K	0.1%	$9.31	—	COM	24869P104
KAI	KADANT INC	9,437	$892K	0.1%	$49.73	+87.2%	COM	48282T104
XHR	XENIA HOTELS & RESORTS INC	44,842	$884K	0.1%	$19.85	—	COM	984017103
—	SYNOVUS FINANCIAL CORP	17,438	$871K	0.1%	$30.43	—	COM	87161C501
PCH	POTLATCHDELTIC CORP	16,256	$846K	0.1%	$52.04	—	COM	737630103
—	REGIS CORP	54,378	$823K	0.1%	$13.67	—	COM	758932107
—	PROVIDENCE SERVICE CORP	11,846	$819K	0.1%	$54.15	—	COM	743815102
—	MFA FINANCIAL INC	107,203	$807K	0.1%	$7.68	—	COM	55272X102
—	NATIONAL GENERAL HLDGS	33,215	$807K	0.1%	$20.17	—	COM	636220303
—	FOREST CITY REALTY TRUST- A	39,629	$803K	0.1%	$21.98	—	COM	345605109
CTS	CTS CORP	29,355	$798K	0.1%	$19.36	+33.9%	COM	126501105
NBHC	NATIONAL BANK HOLD-CL A	23,660	$787K	0.1%	$26.69	+2.5%	COM	633707104
—	EXTENDED STAY AMERICA INC	38,677	$765K	0.1%	$19.78	—	COM	30224P200
—	DSW INC-CLASS A	33,723	$757K	0.1%	$21.83	—	COM	23334L102
ARCC	AREC CAPITAL CORP	46,932	$745K	0.1%	$7.45	+0.3%	COM	04010L103
TGS	TRANSPORTADOR GAS SUR-SP B	36,176	$736K	0.1%	$16.89	—	ADR	893870204
—	FRONT YARD RESIDENTIAL CORP	73,195	$736K	0.1%	$10.06	—	COM	35904G107
WAFD	WASHINGTON FEDERAL INC	20,765	$718K	0.1%	$27.70	0.0%	COM	938824109
MUSA	MURPHY USA INC	9,732	$708K	0.1%	$60.37	+25.7%	COM	626755102
FSS	FEDERAL SIGNAL CORP	31,184	$687K	0.1%	$16.56	+16.4%	COM	313855108
MMS	MAXIMUS INC	10,010	$668K	0.1%	$57.80	+17.6%	COM	577933104
—	DST SYSTEMS INC	7,475	$625K	0.1%	$80.75	—	COM	233326107
BR	BROADRIDGE FINANCIAL SOLUTIO	5,594	$614K	0.1%	$36.72	+136.7%	COM	11133T103
—	GCI LIBERTY INC - CLASS A	10,904	$576K	0.1%	$52.82	—	COM	36164V305
—	LORAL SPACE & COMMUNICATIONS	13,766	$573K	0.1%	$40.93	—	COM	543881106
TFSL	TFS FINANCIAL CORP	37,717	$554K	0.1%	$7.73	+10.4%	COM	87240R107
SCCO	SOUTHERN COPPER CORP	9,200	$498K	0.1%	$34.68	0.0%	COM	84265V105
NPO	ENPRO INDUSTRIES INC	6,293	$487K	0.1%	$69.11	+19.4%	COM	29355X107
OCFC	OCEANFIRST FINANCIAL CORP	17,697	$473K	0.1%	$15.39	+28.6%	COM	675234108
RNST	RENASANT CORP	11,034	$470K	0.1%	$34.70	+24.0%	COM	75970E107
—	CORE-MARK HOLDING CO INC	21,190	$450K	0.1%	$42.44	—	COM	218681104
TGNA	TEGNA INC	39,358	$448K	0.1%	$14.28	-4.3%	COM	87901J105
ATNI	ATLANTIC TELE-NETWORK INC	7,459	$445K	0.1%	$54.47	-10.9%	COM	00215F107
CASY	CASEYS GENERAL STORES INC	3,965	$435K	0.1%	$80.29	+36.3%	COM	147528103
—	NEENAH INC	5,318	$417K	0.1%	$64.34	—	COM	640079109
—	PACIFIC PREMIER BANCORP INC	9,425	$379K	0.0%	$36.99	—	COM	69478X105
—	COLONY NORTHSTAR INC-CLASS A	65,480	$368K	0.0%	$12.51	—	COM	19625W104
PARR	PAR PACIFIC HOLDINGS INC	21,071	$362K	0.0%	$18.16	-0.6%	COM	69888T207
TFIN	TRIUMPH BANCORP INC	7,481	$308K	0.0%	$31.59	+24.0%	COM	89679E300
REX	REX AMERICAN RESOURCES CORP	4,218	$307K	0.0%	$13.65	0.0%	COM	761624105
SGU	STAR GROUP LP	26,799	$251K	0.0%	$10.21	-2.7%	COM	85512C105
—	TRISTATE CAPITAL HLDGS INC	9,604	$223K	0.0%	$23.22	—	COM	89678F100
—	LANDMARK INFRASTRUCTURE PART	10,895	$181K	0.0%	$16.61	—	COM	51508J108