Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
GLD	SPDR GOLD TRUST	618,665	$73.41M	12.9%	$118.65	$126.13	-5.9%	GOLD SHS	78463V107
—	ALLIANCEBERNSTEIN GBL HGH IN	1,690,932	$19.51M	3.4%	$11.54	$11.89	—	COM	01879R106
T	AT&T INC	588,618	$18.9M	3.3%	$32.11 *	$14.53	-3.2%	COM	00206R102
—	INDEPENDENCE HLDG CO NEW	511,161	$17M	3.0%	$33.25	$35.65	—	COM NEW	453440307
IBM	INTERNATIONAL BUSINESS MACHS	106,122	$14.82M	2.6%	$139.70 *	$105.62	-8.9%	COM	459200101
—	TWENTY FIRST CENTY FOX INC	294,115	$14.62M	2.6%	$49.69	$36.69	—	CL A	90130A101
NWL	NEWELL BRANDS INC	536,110	$13.83M	2.4%	$25.79 *	$19.46	-6.7%	COM	651229106
QCOM	QUALCOMM INC	221,012	$12.4M	2.2%	$56.12 *	$51.58	-9.9%	COM	747525103
GOOGL	ALPHABET INC	10,581	$11.95M	2.1%	$1129.19 *	$55.03	+1.8%	CAP STK CL A	02079K305
CMCSA	COMCAST CORP NEW	361,809	$11.87M	2.1%	$32.81 *	$30.60	-11.6%	CL A	20030N101
GBDC	GOLUB CAP BDC INC	638,244	$11.68M	2.1%	$18.30 *	$8.49	+4.3%	COM	38173M102
NXPI	NXP SEMICONDUCTORS N V	103,275	$11.29M	2.0%	$109.27 *	$103.51	-6.2%	COM	N6596X109
BMY	BRISTOL MYERS SQUIBB CO	179,029	$9.907M	1.7%	$55.34 *	$45.28	-8.0%	COM	110122108
—	SPECTRUM BRANDS HLDGS INC	118,300	$9.656M	1.7%	$81.62	$94.88	—	COM	84763R101
MTB	M & T BK CORP	56,297	$9.579M	1.7%	$170.15 *	$146.61	-8.1%	COM	55261F104
MSFT	MICROSOFT CORP	95,000	$9.368M	1.6%	$98.61 *	$84.74	+8.0%	COM	594918104
TAP	MOLSON COORS BREWING CO	136,400	$9.281M	1.6%	$68.04 *	$62.29	-10.5%	CL B	60871R209
NTR	NUTRIEN LTD	164,868	$8.966M	1.6%	$54.38 *	$38.36	+10.3%	COM	67077M108
JNJ	JOHNSON & JOHNSON	73,764	$8.951M	1.6%	$121.35 *	$106.53	-7.6%	COM	478160104
GILD	GILEAD SCIENCES INC	122,900	$8.706M	1.5%	$70.84 *	$57.91	-8.1%	COM	375558103
PFE	PFIZER INC	236,561	$8.582M	1.5%	$36.28 *	$24.24	+1.4%	COM	717081103
—	HANESBRANDS INC	336,000	$7.399M	1.3%	$22.02	$19.77	—	COM	410345102
—	WESTROCK CO	124,650	$7.108M	1.3%	$57.02	$57.02	—	COM	96145D105
MET	METLIFE INC	159,300	$6.945M	1.2%	$43.60 *	$36.85	-8.5%	COM	59156R108
SYY	SYSCO CORP	101,300	$6.918M	1.2%	$68.29 *	$49.69	+12.5%	COM	871829107
—	DOWDUPONT INC	96,785	$6.38M	1.1%	$65.92	$63.71	—	COM	26078J100
AVGO	BROADCOM INC	26,025	$6.315M	1.1%	$242.65 *	$19.73	+0.1%	COM	11135F101
KLIC	KULICKE & SOFFA INDS INC	260,000	$6.193M	1.1%	$23.82 *	$21.00	-0.6%	COM	501242101
EOG	EOG RES INC	47,950	$5.966M	1.1%	$124.42 *	$80.82	+15.6%	COM	26875P101
—	NATIONAL OILWELL VARCO INC	131,300	$5.698M	1.0%	$43.40	$36.81	—	COM	637071101
ADNT	ADIENT PLC	111,890	$5.504M	1.0%	$49.19	$62.48	-21.7%	ORD SHS	G0084W101
MMM	3M CO	26,865	$5.285M	0.9%	$196.72 *	$130.14	-3.3%	COM	88579Y101
JEF	JEFFERIES FINL GROUP INC	227,000	$5.162M	0.9%	$22.74 *	$16.63	-2.5%	COM	47233W109
PGR	PROGRESSIVE CORP OHIO	86,100	$5.093M	0.9%	$59.15 *	$45.56	+2.4%	COM	743315103
AFL	AFLAC INC	116,800	$5.025M	0.9%	$43.02 *	$36.97	-2.4%	COM	001055102
AJG	GALLAGHER ARTHUR J & CO	75,100	$4.903M	0.9%	$65.29 *	$60.53	-2.5%	COM	363576109
CCJ	CAMECO CORP	411,400	$4.628M	0.8%	$11.25 *	$8.99	+21.4%	COM	13321L108
—	WASHINGTON PRIME GROUP NEW	552,400	$4.48M	0.8%	$8.11	$6.67	—	COM	93964W108
—	HRG GROUP INC	333,200	$4.362M	0.8%	$13.09	$15.45	—	COM	40434J100
SEE	SEALED AIR CORP NEW	100,500	$4.266M	0.8%	$42.45 *	$39.16	-5.4%	COM	81211K100
KMB	KIMBERLY CLARK CORP	40,100	$4.224M	0.7%	$105.34 *	$85.36	-5.0%	COM	494368103
MGM	MGM RESORTS INTERNATIONAL	139,300	$4.044M	0.7%	$29.03 *	$32.51	-13.8%	COM	552953101
—	UNITED TECHNOLOGIES CORP	32,310	$4.04M	0.7%	$125.04	$125.11	—	COM	913017109
AXTA	AXALTA COATING SYS LTD	133,300	$4.04M	0.7%	$30.31	$31.26	-3.0%	COM	G0750C108
—	CHINA MOBILE LIMITED	90,000	$3.995M	0.7%	$44.39	$44.39	—	SPONSORED ADR	16941M109
CYD	CHINA YUCHAI INTL LTD	182,500	$3.96M	0.7%	$21.70 *	$15.56	-0.4%	COM	G21082105
—	FOOT LOCKER INC	72,900	$3.838M	0.7%	$52.65	$45.54	—	COM	344849104
SLV	ISHARES SILVER TRUST	241,600	$3.66M	0.6%	$15.15	$15.79	-4.0%	ISHARES	46428Q109
MRK	MERCK & CO INC	57,790	$3.508M	0.6%	$60.70 *	$42.25	+8.8%	COM	58933Y105
—	AVANGRID INC	62,664	$3.317M	0.6%	$52.93	$51.11	—	COM	05351W103
DE	DEERE & CO	22,900	$3.201M	0.6%	$139.78 *	$141.09	-11.3%	COM	244199105
CAT	CATERPILLAR INC DEL	23,580	$3.199M	0.6%	$135.67 *	$133.07	-13.6%	COM	149123101
PM	PHILIP MORRIS INTL INC	38,100	$3.076M	0.5%	$80.73 *	$61.36	-11.1%	COM	718172109
TMUS	T MOBILE US INC	51,400	$3.071M	0.5%	$59.75 *	$57.20	+0.9%	COM	872590104
VZ	VERIZON COMMUNICATIONS INC	54,631	$2.748M	0.5%	$50.30 *	$33.03	+1.5%	COM	92343V104
WMT	WALMART INC	31,486	$2.697M	0.5%	$85.66 *	$26.00	-2.2%	COM	931142103
—	GENERAL ELECTRIC CO	188,101	$2.56M	0.5%	$13.61	$13.53	—	COM	369604103
UNM	UNUM GROUP	64,000	$2.367M	0.4%	$36.98	$52.25	-29.2%	COM	91529Y106
OII	OCEANEERING INTL INC	92,800	$2.363M	0.4%	$25.46	$20.05	+27.0%	COM	675232102
—	OAKTREE SPECIALTY LENDING CO	479,860	$2.294M	0.4%	$4.78	$4.21	—	COM	67401P108
MNST	MONSTER BEVERAGE CORP NEW	39,650	$2.272M	0.4%	$57.30 *	$29.13	-1.6%	COM	61174X109
—	LIBERTY GLOBAL PLC	83,629	$2.225M	0.4%	$26.61	$30.43	—	SHS CL C	G5480U120
GPRO	GOPRO INC	339,597	$2.187M	0.4%	$6.44	$5.72	+12.5%	CL A	38268T103
—	BED BATH & BEYOND INC	105,700	$2.106M	0.4%	$19.92	$20.99	—	COM	075896100
DHI	D R HORTON INC	50,400	$2.066M	0.4%	$40.99 *	$39.68	-4.8%	COM	23331A109
AAPL	APPLE INC	10,606	$1.963M	0.3%	$185.08 *	$40.42	+8.1%	COM	037833100
CMI	CUMMINS INC	14,500	$1.929M	0.3%	$133.03 *	$122.60	-10.8%	COM	231021106
AMZN	AMAZON COM INC	1,088	$1.849M	0.3%	$1699.45 *	$71.51	+18.9%	COM	023135106
—	ISHARES GOLD TRUST	149,600	$1.798M	0.3%	$12.02	$12.73	—	ISHARES	464285105
—	TAHOE RES INC	356,000	$1.752M	0.3%	$4.92	$4.69	—	COM	873868103
BNS	BANK N S HALIFAX	28,600	$1.636M	0.3%	$57.20 *	$40.96	-5.6%	COM	064149107
—	VERITIV CORP	40,300	$1.606M	0.3%	$39.85	$39.21	—	COM	923454102
—	WESTERN AST INFL LKD OPP & I	142,100	$1.584M	0.3%	$11.15	$11.32	—	COM	95766R104
—	LAYNE CHRISTENSEN CO	1,550,000	$1.563M	0.3%	$1.01	$1.00	—	NOTE 4.250%11/1	521050AB0
USB	US BANCORP DEL	30,100	$1.506M	0.3%	$50.03 *	$39.92	-7.5%	COM NEW	902973304
PCH	POTLATCHDELTIC CORPORATION	29,000	$1.475M	0.3%	$50.86	$51.52	—	COM	737630103
—	INTEVAC INC	293,646	$1.424M	0.3%	$4.85	$6.90	—	COM	461148108
INTC	INTEL CORP	28,296	$1.407M	0.2%	$49.72 *	$40.06	+5.5%	COM	458140100
—	DEAN FOODS CO NEW	131,000	$1.377M	0.2%	$10.51	$8.62	—	COM NEW	242370203
—	BLACKROCK MUNIYIELD NY QLTY	114,600	$1.373M	0.2%	$11.98	$12.05	—	COM	09255E102
—	ALLEGHANY CORP DEL	2,386	$1.372M	0.2%	$575.02	$614.42	—	COM	017175100
RY	ROYAL BK CDA MONTREAL QUE	18,100	$1.363M	0.2%	$75.30	$77.84	-3.3%	COM	780087102
XYL	XYLEM INC	19,900	$1.341M	0.2%	$67.39 *	$67.29	-8.5%	COM	98419M100
DKS	DICKS SPORTING GOODS INC	37,800	$1.332M	0.2%	$35.24 *	$25.66	+9.3%	COM	253393102
ATR	APTARGROUP INC	14,129	$1.319M	0.2%	$93.35 *	$79.58	+6.4%	COM	038336103
GNTX	GENTEX CORP	56,000	$1.289M	0.2%	$23.02	$22.76	+1.1%	COM	371901109
UNP	UNION PAC CORP	9,000	$1.275M	0.2%	$141.67 *	$113.06	+6.2%	COM	907818108
—	PRAXAIR INC	8,000	$1.265M	0.2%	$158.13	$144.25	—	COM	74005P104
—	DRIL-QUIP INC	24,500	$1.259M	0.2%	$51.39	$44.82	—	COM	262037104
NVS	NOVARTIS A G	15,848	$1.197M	0.2%	$75.53	$84.95	-11.1%	SPONSORED ADR	66987V109
—	NEWLINK GENETICS CORP	246,340	$1.173M	0.2%	$4.76	$7.25	—	COM	651511107
BIIB	BIOGEN INC	3,900	$1.132M	0.2%	$290.26	$281.15	+3.2%	COM	09062X103
SNA	SNAP ON INC	7,000	$1.125M	0.2%	$160.71 *	$124.36	+6.5%	COM	833034101
—	CERNER CORP	18,000	$1.076M	0.2%	$59.78	$59.78	—	COM	156782104
AXP	AMERICAN EXPRESS CO	10,953	$1.073M	0.2%	$97.96 *	$87.01	+1.6%	COM	025816109
PG	PROCTER AND GAMBLE CO	13,650	$1.066M	0.2%	$78.10 *	$61.80	+3.9%	COM	742718109
CL	COLGATE PALMOLIVE CO	16,200	$1.05M	0.2%	$64.81 *	$54.60	-0.8%	COM	194162103
MHK	MOHAWK INDS INC	4,840	$1.037M	0.2%	$214.26	$218.93	-2.1%	COM	608190104
CGNX	COGNEX CORP	23,000	$1.026M	0.2%	$44.61 *	$44.22	-5.7%	COM	192422103
FTI	TECHNIPFMC PLC	31,900	$1.013M	0.2%	$31.76 *	$21.36	+2.8%	COM	G87110105
—	CURIS INC	583,750	$1.01M	0.2%	$1.73	$1.73	—	COM NEW	231269200
GVA	GRANITE CONSTR INC	17,604	$980K	0.2%	$55.67	$56.52	-1.5%	COM	387328107
OLED	UNIVERSAL DISPLAY CORP	10,000	$860K	0.2%	$86.00 *	$142.53	-42.7%	COM	91347P105
MO	ALTRIA GROUP INC	15,000	$852K	0.1%	$56.80 *	$36.57	-12.4%	COM	02209S103
—	GOPRO INC	900,000	$835K	0.1%	$0.93	$0.93	—	NOTE 3.500% 4/1	38268TAB9
—	ARQULE INC	150,000	$830K	0.1%	$5.53	$2.88	—	COM	04269E107
MUR	MURPHY OIL CORP	24,226	$818K	0.1%	$33.77 *	$21.71	+18.4%	COM	626717102
PSLV	SPROTT PHYSICAL SILVER TR	136,709	$802K	0.1%	$5.87	$6.04	—	TR UNIT	85207K107
LBTYAUSD	LIBERTY GLOBAL PLC	28,809	$793K	0.1%	$27.53	$31.31	—	SHS CL A	G5480U104
DGICA	DONEGAL GROUP INC	57,386	$781K	0.1%	$13.61 *	$11.58	-16.1%	CL A	257701201
META	FACEBOOK INC	3,800	$738K	0.1%	$194.21	$178.31	+8.2%	CL A	30303M102
DIS	DISNEY WALT CO	7,000	$734K	0.1%	$104.86 *	$100.96	-1.4%	COM DISNEY	254687106
CAG	CONAGRA BRANDS INC	19,762	$706K	0.1%	$35.73 *	$27.24	-2.3%	COM	205887102
CHTR	CHARTER COMMUNICATIONS INC N	2,396	$703K	0.1%	$293.41	$351.59	-16.6%	CL A	16119P108
—	ARADIGM CORP	479,477	$695K	0.1%	$1.45	$1.22	—	COM PAR	038505400
L	LOEWS CORP	14,000	$676K	0.1%	$48.29 *	$48.83	-4.3%	COM	540424108
—	TEEKAY TANKERS LTD	562,200	$658K	0.1%	$1.17	$1.19	—	CL A	Y8565N102
—	LORAL SPACE & COMMUNICATNS I	15,216	$572K	0.1%	$37.59	$41.64	—	COM	543881106
GERN	GERON CORP	154,700	$531K	0.1%	$3.43	$2.70	+26.9%	COM	374163103
STZ	CONSTELLATION BRANDS INC	2,400	$525K	0.1%	$218.75 *	$194.12	-0.2%	CL A	21036P108
—	WESTERN ASST INFLTN LKD INM	40,726	$465K	0.1%	$11.42	$11.54	—	COM SH BEN INT	95766Q106
LW	LAMB WESTON HLDGS INC	6,587	$451K	0.1%	$68.47 *	$50.37	+21.6%	COM	513272104
NAT	NORDIC AMERICAN TANKERS LIMI	166,000	$445K	0.1%	$2.68	$2.29	+17.0%	COM	G65773106
XOM	EXXON MOBIL CORP	5,228	$433K	0.1%	$82.82 *	$55.74	+5.1%	COM	30231G102
GOOG	ALPHABET INC	341	$380K	0.1%	$1114.37 *	$54.79	+1.1%	CAP STK CL C	02079K107
—	TE CONNECTIVITY LTD	4,094	$369K	0.1%	$90.13	$99.90	—	REG SHS	H84989104
JPM	JPMORGAN CHASE & CO	3,412	$356K	0.1%	$104.34 *	$91.43	-7.5%	COM	46625H100
HON	HONEYWELL INTL INC	2,275	$328K	0.1%	$144.18 *	$117.49	-5.2%	COM	438516106
CSCO	CISCO SYS INC	7,200	$310K	0.1%	$43.06 *	$33.46	+2.3%	COM	17275R102
LILAK	LIBERTY LATIN AMERICA LTD	15,183	$294K	0.1%	$19.36 *	$20.25	-9.9%	COM CL C	G9001E128
MDLZ	MONDELEZ INTL INC	6,920	$284K	0.0%	$41.04 *	$35.85	-4.6%	CL A	609207105
—	NEW GERMANY FD INC	14,698	$268K	0.0%	$18.23	$19.46	—	COM	644465106
MUSA	MURPHY USA INC	3,531	$262K	0.0%	$74.20 *	$75.89	-4.8%	COM	626755102
—	CONSOLIDATED TOMOKA LD CO	4,000	$246K	0.0%	$61.50	$62.75	—	COM	210226106
BK	BANK NEW YORK MELLON CORP	4,000	$216K	0.0%	$54.00 *	$44.73	-2.5%	COM	064058100
BRK/B	BERKSHIRE HATHAWAY INC DEL	1,150	$215K	0.0%	$186.96	$205.34	-9.1%	CL B NEW	084670702
OXY	OCCIDENTAL PETE CORP DEL	2,522	$211K	0.0%	$83.66 *	$66.34	+5.5%	COM	674599105
INVE	IDENTIV INC	40,500	$157K	0.0%	$3.88	$3.73	+3.7%	COM NEW	45170X205
—	SIRIUS XM HLDGS INC	20,000	$135K	0.0%	$6.75	$6.25	—	COM	82968B103
LILA	LIBERTY LATIN AMERICA LTD	5,538	$106K	0.0%	$19.14 *	$19.37	-7.0%	COM CL A	G9001E102
ABEV	AMBEV SA	17,875	$83,000	0.0%	$4.64	$6.88	-32.7%	SPONSORED ADR	02319V103
—	SANOFI	146,402	$73,000	0.0%	$0.50	$0.42	—	RIGHT 12/31/2020	80105N113