MERCER INTL INC

Institution	Shares	Value ($000)
Diameter Capital Partners LP	1,100,397	$2,179
Benefit Street Partners LLC	63,685	$126
Banco BTG Pactual S.A.	24,600	$49
AXQ CAPITAL, LP	10,985	$22
Quadrature Capital Ltd	37,009	$73
Beacon Pointe Advisors, LLC	31,819	$63
LPL Financial LLC	16,558	$33
Olistico Wealth, LLC	755	$1
PNC Financial Services Group, Inc.	348	$1

Increased Positions (21)

IAT REINSURANCE CO LTD.

Value ($000) $34,096 (-29.1%) Shares 17,220,000 (+3.1%)

READYSTATE ASSET MANAGEMENT LP

Value ($000) $5,053 (-26.0%) Shares 2,551,997 (+7.7%)

WHITEBOX ADVISORS LLC

Value ($000) $1,358 (-12.0%) Shares 686,019 (+28.0%)

BARCLAYS PLC

Value ($000) $1,464 (+2063.6%) Shares 739,335 (+7297.8%)

Verition Fund Management LLC

Value ($000) $611 (+638.4%) Shares 308,622 (+974.1%)

BRIDGEWAY CAPITAL MANAGEMENT, LLC

Value ($000) $752 (-25.6%) Shares 379,732 (+8.1%)

Assenagon Asset Management S.A.

Value ($000) $366 (+25.4%) Shares 184,717 (+82.4%)

Centiva Capital, LP

Value ($000) $121 (+27.4%) Shares 60,872 (+85.4%)

JANE STREET GROUP, LLC

Value ($000) $248 (+3.5%) Shares 125,171 (+50.5%)

Graham Capital Management, L.P.

Value ($000) $210 (-15.4%) Shares 106,255 (+23.1%)

AMERICAN CENTURY COMPANIES INC

Value ($000) $2,293 (-30.0%) Shares 1,158,077 (+1.9%)

BlackRock, Inc.

Value ($000) $2,061 (-30.0%) Shares 1,040,717 (+1.8%)

GEODE CAPITAL MANAGEMENT, LLC

Value ($000) $1,111 (-29.4%) Shares 561,001 (+2.7%)

UBS Group AG

Value ($000) $104 (-7.2%) Shares 52,581 (+35.0%)

NORTHERN TRUST CORP

Value ($000) $236 (-23.8%) Shares 119,180 (+10.8%)

STATE STREET CORP

Value ($000) $428 (-27.6%) Shares 216,113 (+5.3%)

Engineers Gate Manager LP

Value ($000) $61 (-3.9%) Shares 31,033 (+39.8%)

FMR LLC

Value ($000) $14 (+4417.5%) Shares 7,301 (+6477.5%)

R Squared Ltd

Value ($000) $37 (-25.1%) Shares 18,868 (+8.9%)

PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO

Value ($000) $17 (-2.2%) Shares 8,741 (+42.3%)

Institution	Prev Shares	Curr Shares	Change
IAT REINSURANCE CO LTD.	16,700,000	17,220,000	+520,000 (+3.1%)
READYSTATE ASSET MANAGEMENT LP	2,369,685	2,551,997	+182,312 (+7.7%)
WHITEBOX ADVISORS LLC	536,019	686,019	+150,000 (+28.0%)
BARCLAYS PLC	9,994	739,335	+729,341 (+7297.8%)
Verition Fund Management LLC	28,733	308,622	+279,889 (+974.1%)
BRIDGEWAY CAPITAL MANAGEMENT, LLC	351,125	379,732	+28,607 (+8.1%)
Assenagon Asset Management S.A.	101,250	184,717	+83,467 (+82.4%)
Centiva Capital, LP	32,841	60,872	+28,031 (+85.4%)
JANE STREET GROUP, LLC	83,143	125,171	+42,028 (+50.5%)
Graham Capital Management, L.P.	86,331	106,255	+19,924 (+23.1%)
AMERICAN CENTURY COMPANIES INC	1,136,755	1,158,077	+21,322 (+1.9%)
BlackRock, Inc.	1,022,421	1,040,717	+18,296 (+1.8%)
GEODE CAPITAL MANAGEMENT, LLC	546,398	561,001	+14,603 (+2.7%)
UBS Group AG	38,963	52,581	+13,618 (+35.0%)
NORTHERN TRUST CORP	107,532	119,180	+11,648 (+10.8%)
STATE STREET CORP	205,213	216,113	+10,900 (+5.3%)
Engineers Gate Manager LP	22,199	31,033	+8,834 (+39.8%)
FMR LLC	111	7,301	+7,190 (+6477.5%)
R Squared Ltd	17,330	18,868	+1,538 (+8.9%)
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO	6,143	8,741	+2,598 (+42.3%)

Decreased Positions (25)

Solas Capital Management, LLC

Value ($000) $3,182 (-33.0%) Shares 1,607,315 (-2.6%)

SHUFRO ROSE & CO LLC

Value ($000) $141 (-80.6%) Shares 71,300 (-39.8%)

OPPENHEIMER & CO INC

Value ($000) $834 (-61.6%) Shares 420,979 (-44.2%)

MILLENNIUM MANAGEMENT LLC

Value ($000) $44 (-98.5%) Shares 22,158 (-97.8%)

WELLS FARGO & COMPANY/MN

Value ($000) $1,772 (-48.3%) Shares 894,700 (-24.8%)

DIMENSIONAL FUND ADVISORS LP

Value ($000) $5,582 (-36.1%) Shares 2,819,274 (-7.1%)

Qube Research & Technologies Ltd

Value ($000) $103 (-83.9%) Shares 51,970 (-76.5%)

CITIGROUP INC

Value ($000) $35 (-94.4%) Shares 17,556 (-91.9%)

MORGAN STANLEY

Value ($000) $450 (-62.2%) Shares 227,103 (-45.0%)

CITADEL ADVISORS LLC

Value ($000) $368 (-64.6%) Shares 185,885 (-48.6%)

D. E. Shaw & Co., Inc.

Value ($000) $1,754 (-41.4%) Shares 885,918 (-14.8%)

RENAISSANCE TECHNOLOGIES LLC

Value ($000) $54 (-76.1%) Shares 27,511 (-65.2%)

CHARLES SCHWAB INVESTMENT MANAGEMENT INC

Value ($000) $490 (-43.8%) Shares 247,486 (-18.2%)

Susquehanna Portfolio Strategies, LLC

Value ($000) $176 (-46.5%) Shares 88,938 (-22.1%)

Squarepoint Ops LLC

Value ($000) $24 (-85.7%) Shares 12,077 (-79.2%)

ROYAL BANK OF CANADA

Value ($000) $12 (-89.0%) Shares 5,900 (-84.5%)

Invesco Ltd.

Value ($000) $65 (-49.3%) Shares 32,725 (-26.3%)

GOLDMAN SACHS GROUP INC

Value ($000) $218 (-36.1%) Shares 109,935 (-7.1%)

JPMORGAN CHASE & CO

Value ($000) $50 (-46.1%) Shares 25,380 (-21.7%)

Net Worth Advisory Group

Value ($000) $68 (-33.0%) Shares 34,358 (-2.6%)

Institution	Prev Shares	Curr Shares	Change
Solas Capital Management, LLC	1,650,032	1,607,315	-42,717 (-2.6%)
SHUFRO ROSE & CO LLC	118,400	71,300	-47,100 (-39.8%)
OPPENHEIMER & CO INC	754,175	420,979	-333,196 (-44.2%)
MILLENNIUM MANAGEMENT LLC	994,974	22,158	-972,816 (-97.8%)
WELLS FARGO & COMPANY/MN	1,190,097	894,700	-295,397 (-24.8%)
DIMENSIONAL FUND ADVISORS LP	3,033,321	2,819,274	-214,047 (-7.1%)
Qube Research & Technologies Ltd	221,607	51,970	-169,637 (-76.5%)
CITIGROUP INC	216,464	17,556	-198,908 (-91.9%)
MORGAN STANLEY	412,551	227,103	-185,448 (-45.0%)
CITADEL ADVISORS LLC	361,452	185,885	-175,567 (-48.6%)
D. E. Shaw & Co., Inc.	1,040,022	885,918	-154,104 (-14.8%)
RENAISSANCE TECHNOLOGIES LLC	79,111	27,511	-51,600 (-65.2%)
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	302,690	247,486	-55,204 (-18.2%)
Susquehanna Portfolio Strategies, LLC	114,197	88,938	-25,259 (-22.1%)
Squarepoint Ops LLC	58,051	12,077	-45,974 (-79.2%)
ROYAL BANK OF CANADA	37,973	5,900	-32,073 (-84.5%)
Invesco Ltd.	44,393	32,725	-11,668 (-26.3%)
GOLDMAN SACHS GROUP INC	118,295	109,935	-8,360 (-7.1%)
JPMORGAN CHASE & CO	32,401	25,380	-7,021 (-21.7%)
Net Worth Advisory Group	35,274	34,358	-916 (-2.6%)

Exited Positions (22)

WEALTHEDGE INVESTMENT ADVISORS, LLC

Value ($000) $206 Shares 71,584

OXFORD ASSET MANAGEMENT LLP

Value ($000) $204 Shares 70,935

nVerses Capital, LLC

Value ($000) $64 Shares 9,500

PDT Partners, LLC

Value ($000) $288 Shares 99,982

XTX Topco Ltd

Value ($000) $305 Shares 105,933

Jump Financial, LLC

Value ($000) $443 Shares 153,666

Empowered Funds, LLC

Value ($000) $372 Shares 129,012

GAMCO INVESTORS, INC. ET AL

Value ($000) $198 Shares 68,795

Brevan Howard Capital Management LP

Value ($000) $170 Shares 59,007

TUDOR INVESTMENT CORP ET AL

Value ($000) $214 Shares 74,153

HSBC HOLDINGS PLC

Value ($000) $64 Shares 22,424

WOLVERINE ASSET MANAGEMENT LLC

Value ($000) $46 Shares 16,101

Walleye Capital LLC

Value ($000) $49 Shares 17,069

RAYMOND JAMES FINANCIAL INC

Value ($000) $48 Shares 16,703

Quantbot Technologies LP

Value ($000) $23 Shares 7,838

TWO SIGMA ADVISERS, LP

Value ($000) $33 Shares 11,600

ARMSTRONG ADVISORY GROUP, INC

Value ($000) $5 Shares 1,837

ALGERT GLOBAL LLC

Value ($000) $0 Shares 45,180

EverSource Wealth Advisors, LLC

Value ($000) $0 Shares 168

True Wealth Design, LLC

Value ($000) $0 Shares 51

Institution	Prev Shares	Prev Value ($000)
WEALTHEDGE INVESTMENT ADVISORS, LLC	71,584	$206
OXFORD ASSET MANAGEMENT LLP	70,935	$204
nVerses Capital, LLC	9,500	$64
PDT Partners, LLC	99,982	$288
XTX Topco Ltd	105,933	$305
Jump Financial, LLC	153,666	$443
Empowered Funds, LLC	129,012	$372
GAMCO INVESTORS, INC. ET AL	68,795	$198
Brevan Howard Capital Management LP	59,007	$170
TUDOR INVESTMENT CORP ET AL	74,153	$214
HSBC HOLDINGS PLC	22,424	$64
WOLVERINE ASSET MANAGEMENT LLC	16,101	$46
Walleye Capital LLC	17,069	$49
RAYMOND JAMES FINANCIAL INC	16,703	$48
Quantbot Technologies LP	7,838	$23
TWO SIGMA ADVISERS, LP	11,600	$33
ARMSTRONG ADVISORY GROUP, INC	1,837	$5
ALGERT GLOBAL LLC	45,180	$0
EverSource Wealth Advisors, LLC	168	$0
True Wealth Design, LLC	51	$0