Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
GLD	SPDR GOLD TRUST	329,487	$39.95M	7.4%	$121.25	$126.13	-3.9%	GOLD SHS	78463V107
—	ISHARES GOLD TRUST	2,892,400	$35.55M	6.6%	$12.29	$11.50	—	ISHARES	464285105
T	AT&T INC	701,899	$20.03M	3.7%	$28.54 *	$14.48	-10.2%	COM	00206R102
—	INDEPENDENCE HLDG CO NEW	509,341	$17.93M	3.3%	$35.20	$35.65	—	COM NEW	453440307
—	ALLIANCEBERNSTEIN GBL HGH IN	1,690,932	$17.81M	3.3%	$10.53	$11.89	—	COM	01879R106
NXPI	NXP SEMICONDUCTORS N V	212,270	$15.55M	2.9%	$73.28 *	$92.71	-29.4%	COM	N6596X109
IBM	INTERNATIONAL BUSINESS MACHS	135,159	$15.36M	2.9%	$113.67 *	$101.88	-21.4%	COM	459200101
QCOM	QUALCOMM INC	214,520	$12.21M	2.3%	$56.91 *	$51.48	-6.7%	COM	747525103
NWL	NEWELL BRANDS INC	620,119	$11.53M	2.1%	$18.59 *	$18.96	-29.6%	COM	651229106
AVGO	BROADCOM INC	43,922	$11.17M	2.1%	$254.27 *	$18.86	+11.7%	COM	11135F101
BMY	BRISTOL MYERS SQUIBB CO	211,128	$10.97M	2.0%	$51.98 *	$44.39	-10.7%	COM	110122108
GBDC	GOLUB CAP BDC INC	638,244	$10.53M	2.0%	$16.49 *	$8.49	-2.1%	COM	38173M102
CMCSA	COMCAST CORP NEW	298,315	$10.16M	1.9%	$34.05 *	$30.58	-6.7%	CL A	20030N101
SPB	SPECTRUM BRANDS HLDGS INC NE	227,814	$9.625M	1.8%	$42.25	$78.22	-46.0%	COM	84790A105
CBOE	CBOE GLOBAL MARKETS INC	96,088	$9.4M	1.8%	$97.83 *	$91.81	-2.8%	COM	12503M108
GOOGL	ALPHABET INC	8,925	$9.326M	1.7%	$1044.93 *	$55.01	-5.7%	CAP STK CL A	02079K305
MHK	MOHAWK INDS INC	78,680	$9.202M	1.7%	$116.95	$167.02	-30.0%	COM	608190104
JNJ	JOHNSON & JOHNSON	69,873	$9.017M	1.7%	$129.05 *	$106.70	-0.6%	COM	478160104
—	HANESBRANDS INC	677,125	$8.484M	1.6%	$12.53	$16.16	—	COM	410345102
—	WESTROCK CO	220,900	$8.341M	1.6%	$37.76	$51.58	—	COM	96145D105
MTB	M & T BK CORP	56,791	$8.128M	1.5%	$143.12 *	$146.61	-21.8%	COM	55261F104
NTR	NUTRIEN LTD	170,320	$8.005M	1.5%	$47.00 *	$38.81	-4.2%	COM	67077M108
TAP	MOLSON COORS BREWING CO	139,443	$7.831M	1.5%	$56.16 *	$62.07	-25.0%	CL B	60871R209
GILD	GILEAD SCIENCES INC	124,577	$7.792M	1.5%	$62.55 *	$57.91	-17.5%	COM	375558103
MSFT	MICROSOFT CORP	74,673	$7.585M	1.4%	$101.58 *	$84.74	+12.2%	COM	594918104
—	UNITED TECHNOLOGIES CORP	67,477	$7.185M	1.3%	$106.48	$126.18	—	COM	913017109
WHR	WHIRLPOOL CORP	64,339	$6.876M	1.3%	$106.87	$129.28	-17.3%	COM	963320106
PGR	PROGRESSIVE CORP OHIO	110,533	$6.668M	1.2%	$60.33 *	$47.07	+1.1%	COM	743315103
MMM	3M CO	32,507	$6.194M	1.2%	$190.54 *	$129.56	-4.6%	COM	88579Y101
—	LINDE PLC	36,598	$5.788M	1.1%	$158.15	$158.15	—	COM	G5494J103
NOC	NORTHROP GRUMMAN CORP	22,275	$5.455M	1.0%	$244.89 *	$245.46	-11.1%	COM	666807102
AFL	AFLAC INC	119,104	$5.426M	1.0%	$45.56 *	$36.98	+4.5%	COM	001055102
MGM	MGM RESORTS INTERNATIONAL	222,713	$5.403M	1.0%	$24.26 *	$30.85	-23.4%	COM	552953101
—	DOWDUPONT INC	98,868	$5.287M	1.0%	$53.48	$63.60	—	COM	26078J100
KLIC	KULICKE & SOFFA INDS INC	250,000	$5.068M	0.9%	$20.27 *	$21.00	-14.4%	COM	501242101
AJG	GALLAGHER ARTHUR J & CO	65,921	$4.858M	0.9%	$73.69 *	$60.63	+11.1%	COM	363576109
TMUS	T MOBILE US INC	70,281	$4.471M	0.8%	$63.62 *	$58.72	+4.7%	COM	872590104
MRK	MERCK & CO INC	57,790	$4.416M	0.8%	$76.41 *	$42.25	+38.9%	COM	58933Y105
PFE	PFIZER INC	101,061	$4.411M	0.8%	$43.65 *	$24.24	+24.0%	COM	717081103
—	CHINA MOBILE LIMITED	90,000	$4.32M	0.8%	$48.00	$44.39	—	SPONSORED ADR	16941M109
JEF	JEFFERIES FINL GROUP INC	227,000	$3.941M	0.7%	$17.36 *	$16.63	-24.7%	COM	47233W109
—	FOOT LOCKER INC	72,900	$3.878M	0.7%	$53.20	$45.54	—	COM	344849104
LEA	LEAR CORP	30,855	$3.791M	0.7%	$122.87 *	$115.32	-7.7%	COM NEW	521865204
SEE	SEALED AIR CORP NEW	102,647	$3.576M	0.7%	$34.84 *	$39.12	-21.6%	COM	81211K100
SLV	ISHARES SILVER TRUST	241,600	$3.508M	0.7%	$14.52	$15.79	-8.0%	ISHARES	46428Q109
—	TAHOE RES INC	953,675	$3.481M	0.6%	$3.65	$3.50	—	COM	873868103
AXTA	AXALTA COATING SYS LTD	147,259	$3.449M	0.6%	$23.42	$30.70	-23.7%	COM	G0750C108
MO	ALTRIA GROUP INC	67,695	$3.343M	0.6%	$49.38 *	$34.10	-15.9%	COM	02209S103
CAT	CATERPILLAR INC DEL	26,098	$3.316M	0.6%	$127.06 *	$126.86	-14.0%	COM	149123101
CYD	CHINA YUCHAI INTL LTD	265,000	$3.297M	0.6%	$12.44 *	$14.28	-37.8%	COM	G21082105
—	AVANGRID INC	62,664	$3.139M	0.6%	$50.09	$51.11	—	COM	05351W103
VZ	VERIZON COMMUNICATIONS INC	54,631	$3.071M	0.6%	$56.21 *	$33.03	+16.0%	COM	92343V104
DE	DEERE & CO	20,304	$3.029M	0.6%	$149.18 *	$140.01	-3.7%	COM	244199105
WMT	WALMART INC	31,486	$2.933M	0.5%	$93.15 *	$26.00	+7.6%	COM	931142103
—	OAKTREE SPECIALTY LENDING CO	663,220	$2.805M	0.5%	$4.23	$4.22	—	COM	67401P108
BEN	FRANKLIN RES INC	94,216	$2.794M	0.5%	$29.66 *	$22.81	-6.5%	COM	354613101
DHI	D R HORTON INC	78,435	$2.719M	0.5%	$34.67 *	$37.55	-14.4%	COM	23331A109
—	WASHINGTON PRIME GROUP NEW	552,400	$2.685M	0.5%	$4.86	$6.67	—	COM	93964W108
THO	THOR INDS INC	43,670	$2.271M	0.4%	$52.00 *	$57.93	-22.5%	COM	885160101
PM	PHILIP MORRIS INTL INC	33,700	$2.25M	0.4%	$66.77 *	$60.63	-23.4%	COM	718172109
RGLD	ROYAL GOLD INC	26,040	$2.23M	0.4%	$85.64	$82.30	+4.1%	COM	780287108
MNST	MONSTER BEVERAGE CORP NEW	39,650	$1.952M	0.4%	$49.23 *	$29.13	-15.5%	COM	61174X109
CMI	CUMMINS INC	14,500	$1.938M	0.4%	$133.66 *	$122.60	-8.9%	COM	231021106
ADNT	ADIENT PLC	128,428	$1.934M	0.4%	$15.06	$57.12	-73.6%	ORD SHS	G0084W101
UNM	UNUM GROUP	64,000	$1.88M	0.4%	$29.38	$52.25	-43.8%	COM	91529Y106
—	LIBERTY GLOBAL PLC	86,910	$1.794M	0.3%	$20.64	$30.06	—	SHS CL C	G5480U120
AMZN	AMAZON COM INC	1,088	$1.634M	0.3%	$1501.84 *	$71.51	+5.0%	COM	023135106
AAPL	APPLE INC	10,606	$1.549M	0.3%	$146.05 *	$40.42	-7.2%	COM	037833100
—	INTEVAC INC	293,646	$1.536M	0.3%	$5.23	$6.90	—	COM	461148108
—	DEAN FOODS CO NEW	399,170	$1.521M	0.3%	$3.81	$7.60	—	COM NEW	242370203
—	ALLEGHANY CORP DEL	2,386	$1.487M	0.3%	$623.22	$614.42	—	COM	017175100
—	WESTERN AST INFL LKD OPP & I	142,100	$1.442M	0.3%	$10.15	$11.32	—	COM	95766R104
GPRO	GOPRO INC	334,597	$1.419M	0.3%	$4.24	$5.72	-25.9%	CL A	38268T103
USB	US BANCORP DEL	30,100	$1.376M	0.3%	$45.71 *	$39.92	-14.2%	COM NEW	902973304
NVS	NOVARTIS A G	15,848	$1.36M	0.3%	$85.82	$84.95	+1.0%	SPONSORED ADR	66987V109
BNS	BANK N S HALIFAX	28,600	$1.356M	0.3%	$47.41 *	$40.96	-15.8%	COM	064149107
ATR	APTARGROUP INC	14,129	$1.329M	0.2%	$94.06 *	$79.58	+7.9%	COM	038336103
—	BLACKROCK MUNIYIELD NY QLTY	114,600	$1.32M	0.2%	$11.52	$12.05	—	COM	09255E102
INTC	INTEL CORP	28,065	$1.317M	0.2%	$46.93 *	$40.06	+0.8%	COM	458140100
UNP	UNION PAC CORP	9,000	$1.244M	0.2%	$138.22 *	$113.06	+4.7%	COM	907818108
RY	ROYAL BK CDA MONTREAL QUE	18,100	$1.24M	0.2%	$68.51	$77.84	-12.0%	COM	780087102
GNTX	GENTEX CORP	56,000	$1.132M	0.2%	$20.21	$22.76	-11.2%	COM	371901109
PCH	POTLATCHDELTIC CORPORATION	34,281	$1.085M	0.2%	$31.65	$48.46	—	COM	737630103
CC	CHEMOURS CO	35,550	$1.003M	0.2%	$28.21 *	$23.57	-10.4%	COM	163851108
CL	COLGATE PALMOLIVE CO	16,200	$964K	0.2%	$59.51 *	$54.60	-7.7%	COM	194162103
—	CERNER CORP	18,000	$944K	0.2%	$52.44	$59.78	—	COM	156782104
OLED	UNIVERSAL DISPLAY CORP	10,000	$936K	0.2%	$93.60 *	$95.84	-7.2%	COM	91347P105
APLE	APPLE HOSPITALITY REIT INC	62,460	$891K	0.2%	$14.27	$14.27	—	COM NEW	03784Y200
CGNX	COGNEX CORP	23,000	$889K	0.2%	$38.65 *	$44.22	-18.1%	COM	192422103
MET	METLIFE INC	20,800	$854K	0.2%	$41.06 *	$36.85	-12.2%	COM	59156R108
—	GENERAL ELECTRIC CO	110,301	$835K	0.2%	$7.57	$12.83	—	COM	369604103
DGICA	DONEGAL GROUP INC	57,386	$783K	0.1%	$13.64 *	$11.58	-14.0%	CL A	257701201
DIS	DISNEY WALT CO	7,000	$768K	0.1%	$109.71 *	$100.96	+4.8%	COM DISNEY	254687106
PSLV	SPROTT PHYSICAL SILVER TR	136,709	$764K	0.1%	$5.59	$6.04	—	TR UNIT	85207K107
—	GOPRO INC	900,000	$741K	0.1%	$0.82	$0.93	—	NOTE 3.500% 4/1	38268TAB9
GVA	GRANITE CONSTR INC	17,604	$709K	0.1%	$40.27	$56.52	-28.7%	COM	387328107
L	LOEWS CORP	14,000	$637K	0.1%	$45.50 *	$48.83	-9.5%	COM	540424108
—	WYNDHAM DESTINATIONS INC	17,720	$635K	0.1%	$35.84	$35.84	—	COM	98310W108
FTI	TECHNIPFMC PLC	31,900	$625K	0.1%	$19.59 *	$21.36	-36.0%	COM	G87110105
LBTYAUSD	LIBERTY GLOBAL PLC	28,809	$615K	0.1%	$21.35	$31.31	—	SHS CL A	G5480U104
CHTR	CHARTER COMMUNICATIONS INC N	2,110	$601K	0.1%	$284.83	$351.59	-18.9%	CL A	16119P108
VC	VISTEON CORP	9,575	$577K	0.1%	$60.26	$75.03	-20.1%	COM NEW	92839U206
MUR	MURPHY OIL CORP	24,226	$567K	0.1%	$23.40 *	$21.71	-16.7%	COM	626717102
WDC	WESTERN DIGITAL CORP	15,240	$563K	0.1%	$36.94 *	$33.07	-20.1%	COM	958102105
GIS	GENERAL MLS INC	14,000	$545K	0.1%	$38.93 *	$32.97	-7.7%	COM	370334104
—	TEEKAY TANKERS LTD	562,200	$522K	0.1%	$0.93	$1.19	—	CL A	Y8565N102
AXP	AMERICAN EXPRESS CO	10,953	$488K	0.1%	$44.55 *	$87.01	-0.5%	COM	025816109
LW	LAMB WESTON HLDGS INC	6,587	$485K	0.1%	$73.63 *	$50.37	+31.2%	COM	513272104
META	FACEBOOK INC	3,500	$459K	0.1%	$131.14	$178.31	-27.0%	CL A	30303M102
—	WESTERN ASST INFLTN LKD INM	40,726	$431K	0.1%	$10.58	$11.54	—	COM SH BEN INT	95766Q106
CAG	CONAGRA BRANDS INC	19,762	$422K	0.1%	$21.35 *	$27.24	-40.9%	COM	205887102
—	ARQULE INC	150,000	$416K	0.1%	$2.77	$2.88	—	COM	04269E107
STZ	CONSTELLATION BRANDS INC	2,400	$386K	0.1%	$160.83 *	$194.12	-26.1%	CL A	21036P108
XOM	EXXON MOBIL CORP	5,228	$356K	0.1%	$68.09 *	$55.74	-11.6%	COM	30231G102
GOOG	ALPHABET INC	341	$353K	0.1%	$1035.19 *	$54.79	-6.2%	CAP STK CL C	02079K107
HON	HONEYWELL INTL INC	2,650	$350K	0.1%	$132.08 *	$117.52	-8.4%	COM	438516106
—	CURIS INC	494,980	$341K	0.1%	$0.69	$1.73	—	COM NEW	231269200
JPM	JPMORGAN CHASE & CO	3,412	$333K	0.1%	$97.60 *	$91.43	-12.3%	COM	46625H100
NAT	NORDIC AMERICAN TANKERS LIMI	166,000	$332K	0.1%	$2.00	$2.29	-12.7%	COM	G65773106
CSCO	CISCO SYS INC	7,200	$312K	0.1%	$43.33 *	$33.46	+4.5%	COM	17275R102
—	TE CONNECTIVITY LTD	4,094	$310K	0.1%	$75.72	$99.90	—	REG SHS	H84989104
MDLZ	MONDELEZ INTL INC	6,920	$277K	0.1%	$40.03 *	$35.85	-5.7%	CL A	609207105
MUSA	MURPHY USA INC	3,531	$271K	0.1%	$76.75 *	$75.89	-1.8%	COM	626755102
BRK/B	BERKSHIRE HATHAWAY INC DEL	1,150	$235K	0.0%	$204.35	$205.34	-0.6%	CL B NEW	084670702
—	VAPOTHERM INC	11,359	$227K	0.0%	$19.98	$19.98	—	COM	922107107
LILAK	LIBERTY LATIN AMERICA LTD	15,183	$221K	0.0%	$14.56 *	$20.25	-32.3%	COM CL C	G9001E128
—	CONSOLIDATED TOMOKA LD CO	4,000	$210K	0.0%	$52.50	$62.75	—	COM	210226106
—	NEW GERMANY FD INC	14,698	$172K	0.0%	$11.70	$19.46	—	COM	644465106
GERN	GERON CORP	154,700	$155K	0.0%	$1.00	$2.70	-63.0%	COM	374163103
—	ARADIGM CORP	479,477	$153K	0.0%	$0.32	$1.22	—	COM PAR	038505400
INVE	IDENTIV INC	40,500	$146K	0.0%	$3.60	$3.73	-3.5%	COM NEW	45170X205
—	SIRIUS XM HLDGS INC	20,000	$114K	0.0%	$5.70	$6.25	—	COM	82968B103
LILA	LIBERTY LATIN AMERICA LTD	5,727	$83,000	0.0%	$14.49 *	$19.32	-29.3%	COM CL A	G9001E102
—	SANOFI	63,817	$31,000	0.0%	$0.49	$0.42	—	RIGHT 12/31/2020	80105N113
—	NEWLINK GENETICS CORP	10,000	$15,000	0.0%	$1.50	$7.25	—	COM	651511107