0001142941-20-000003.txt : 20200130 0001142941-20-000003.hdr.sgml : 20200130 20200129182854 ACCESSION NUMBER: 0001142941-20-000003 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20191231 FILED AS OF DATE: 20200130 DATE AS OF CHANGE: 20200129 EFFECTIVENESS DATE: 20200130 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DENALI ADVISORS LLC CENTRAL INDEX KEY: 0001142941 IRS NUMBER: 330957285 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-10130 FILM NUMBER: 20559347 BUSINESS ADDRESS: STREET 1: 5075 SHOREHAM PLACE STREET 2: SUITE 120 CITY: SAN DIEGO STATE: CA ZIP: 92122 BUSINESS PHONE: 858-558-3600 MAIL ADDRESS: STREET 1: 5075 SHOREHAM PLACE STREET 2: SUITE 120 CITY: SAN DIEGO STATE: CA ZIP: 92122 13F-HR 1 primary_doc.xml 13F-HR LIVE false false false 0001142941 XXXXXXXX 12-31-2019 12-31-2019 false DENALI ADVISORS LLC

5075 Shoreham Place Suite 120 San Diego CA 92122

13F HOLDINGS REPORT 028-10130 N Anne Erickson 858-320-4165 Anne Erickson San Diego CA 01-29-2020 0 312 705453 INFORMATION TABLE 2 infotable.xml 1st Source Corporation COM 336901103 591 11400 SH SOLE 4600 0 6800 AFLAC INC COM COM 001055102 10041 189810 SH SOLE 29700 0 160110 AMC Networks Inc. cl A COM 00164V103 265 6700 SH SOLE 2900 0 3800 AT&T Inc. COM 00206R102 5162 132100 SH SOLE 36900 0 95200 AVX Corporation COM 002444107 2246 109700 SH SOLE 45100 0 64600 AXT Inc COM 00246W103 17 3800 SH SOLE 3800 0 0 Acco Brands Corporation COM 00081T108 2222 237400 SH SOLE 97500 0 139900 Air Lease Corp. Cl A COM 00912X302 3802 80000 SH SOLE 31800 0 48200 Aircastle Ltd COM G0129K104 2234 69800 SH SOLE 28700 0 41100 Alexanders Inc. COM 014752109 1949 5900 SH SOLE 2300 0 3600 Alliance Data Systems Corp COM 018581108 2592 23100 SH SOLE 10000 0 13100 Allison Transmission Holdings COM 01973R101 1290 26700 SH SOLE 11400 0 15300 Allstate Corp. COM 020002101 8872 78900 SH SOLE 2800 0 76100 Ally Financial Inc. COM 02005N100 1094 35800 SH SOLE 13000 0 22800 Altria Group Inc COM 02209S103 2356 47200 SH SOLE 6200 0 41000 Amdocs Limited COM G02602103 12366 171300 SH SOLE 38000 0 133300 Amerco COM 023586100 7216 19200 SH SOLE 4500 0 14700 American Equity Investment COM 025676206 913 30500 SH SOLE 13400 0 17100 American Financial Group COM 025932104 2138 19500 SH SOLE 6900 0 12600 AmerisourceBergen Corp COM 03073E105 748 8800 SH SOLE 6300 0 2500 Amkor Technology Inc COM 031652100 2271 174700 SH SOLE 71700 0 103000 Apartment Invest&Mang A COM 03748R754 439 8500 SH SOLE 5000 0 3500 Apple Hospitality REIT Inc COM 03784Y200 1138 70000 SH SOLE 27600 0 42400 Arch Capital Group Ltd. COM G0450A105 180 4200 SH SOLE 4200 0 0 Ares Commercial Real Estate COM 04013V108 128 8068 SH SOLE 8068 0 0 Arrow Electronics Inc COM 042735100 3161 37300 SH SOLE 16100 0 21200 Arrow Financial Corp. COM 042744102 228 6027 SH SOLE 6027 0 0 Assured Guaranty Ltd COM G0585R106 3226 65800 SH SOLE 26500 0 39300 Athene Holding Ltd. COM G0684D107 1425 30300 SH SOLE 14100 0 16200 Atlas Air Worldwide COM 049164205 1004 36400 SH SOLE 15100 0 21300 Atrion Corporation COM 049904105 1578 2100 SH SOLE 100 0 2000 AutoNation Inc. COM 05329W102 934 19200 SH SOLE 7600 0 11600 Avangrid Inc. COM 05351W103 11931 233200 SH SOLE 53600 0 179600 Avnet Inc. COM 053807103 505 11900 SH SOLE 4300 0 7600 BG Staffing Inc COM 05544A109 13 600 SH SOLE 600 0 0 BancFirst Corp OK COM 05945F103 2329 37300 SH SOLE 15200 0 22100 Bank of America Corp COM 060505104 13630 387000 SH SOLE 61600 0 325400 Bank7 Corp COM 06652N107 108 5716 SH SOLE 5716 0 0 Bar Harbor Bankshares COM 066849100 2 87 SH SOLE 87 0 0 Berkshire Hathaway cl B COM 084670702 15176 67000 SH SOLE 10600 0 56400 Biogen Inc. COM 09062X103 1098 3700 SH SOLE 800 0 2900 Biospecifics Tech Corp COM 090931106 167 2941 SH SOLE 2941 0 0 Blue Bird Corp COM 095306106 101 4400 SH SOLE 4400 0 0 Bluegreen Vacations Corp COM 09629F108 135 13100 SH SOLE 5300 0 7800 Bonanza Creek Energy COM 097793400 28 1200 SH SOLE 1200 0 0 Booz Allen Hamilton cl A COM 099502106 256 3600 SH SOLE 2200 0 1400 Bridge Bancorp Inc COM 108035106 104 3100 SH SOLE 3100 0 0 Brown-Forman cl B COM 115637209 3922 58025 SH SOLE 11725 0 46300 Byline Bancorp Inc. COM 124411109 2 115 SH SOLE 115 0 0 CBRE Group, Inc. COM 12504L109 4493 73300 SH SOLE 0 0 73300 CDW Corporation COM 12514G108 100 700 SH SOLE 700 0 0 CNA Financial Corp. COM 126117100 12058 269100 SH SOLE 66200 0 202900 CNB Financial Corp PA COM 126128107 136 4171 SH SOLE 4171 0 0 Cabot Oil & Gas Corp COM 127097103 1128 64800 SH SOLE 10900 0 53900 Camden National Corp COM 133034108 106 2300 SH SOLE 2300 0 0 Capital One Financial Corp. COM 14040H105 10260 99700 SH SOLE 16100 0 83600 Carlisle Companies Inc. COM 142339100 469 2900 SH SOLE 1400 0 1500 Carnival Corporation COM 143658300 10232 201300 SH SOLE 32700 0 168600 Casa Systems COM 14713L102 78 19000 SH SOLE 7800 0 11200 Cathay General Bancorp COM 149150104 1431 37600 SH SOLE 15400 0 22200 Cedar Realty Trust Inc. COM 150602209 55 18800 SH SOLE 18800 0 0 Century Bancorp cl A COM 156432106 229 2550 SH SOLE 2550 0 0 Chesapeake Utilities Corp. COM 165303108 240 2500 SH SOLE 1000 0 1500 Citizens Financial Grp COM 174610105 317 7800 SH SOLE 3000 0 4800 Cleveland-Cliffs Inc. COM 185899101 264 31400 SH SOLE 10700 0 20700 Coda Octopus Group Inc. COM 19188U206 1 154 SH SOLE 154 0 0 Colony Bankcorp GA COM 19623P101 1 76 SH SOLE 76 0 0 Community Bankers Trust COM 203612106 67 7600 SH SOLE 7600 0 0 Community Trust Bancorp COM 204149108 224 4802 SH SOLE 4802 0 0 Compx International Inc COM 20563P101 141 9697 SH SOLE 9697 0 0 Consolidated Tomoka Land Company COM 210226106 1386 22970 SH SOLE 10970 0 12000 Consolidated Water Co. COM G23773107 1108 68000 SH SOLE 27200 0 40800 Continental Resources, Inc. COM 212015101 4054 118200 SH SOLE 21800 0 96400 Copart, Inc. (DE) COM 217204106 1182 13000 SH SOLE 6600 0 6400 Costamare Inc COM Y1771G102 2632 276200 SH SOLE 113400 0 162800 Cummins Inc. COM 231021106 161 900 SH SOLE 0 0 900 Curo Group Holdings Corp COM 23131L107 32 2596 SH SOLE 2596 0 0 Customers Bancorp Inc COM 23204G100 495 20803 SH SOLE 11003 0 9800 D.R. Horton Inc. COM 23331A109 32 600 SH SOLE 600 0 0 DISH Network Corp cl A COM 25470M109 4462 125800 SH SOLE 37300 0 88500 DaVita HealthCare Partners Inc COM 23918K108 1268 16900 SH SOLE 7000 0 9900 Dana Incorporated COM 235825205 713 39200 SH SOLE 16900 0 22300 Diamond Hill Investments COM 25264R207 492 3500 SH SOLE 1400 0 2100 Discover Financial Services COM 254709108 8750 103156 SH SOLE 26000 0 77156 Dolby Laboratories Inc. COM 25659T107 2608 37900 SH SOLE 13600 0 24300 Dover Corp. COM 260003108 7861 68200 SH SOLE 19300 0 48900 Eagle Bancorp Montana Inc COM 26942G100 36 1700 SH SOLE 1700 0 0 East West Bancorp, Inc. COM 27579R104 1578 32400 SH SOLE 11100 0 21300 Eastern Co COM 276317104 58 1910 SH SOLE 1910 0 0 Eastman Chemical Co COM 277432100 2433 30700 SH SOLE 13100 0 17600 Eaton Corporation, plc COM G29183103 9877 104278 SH SOLE 16700 0 87578 Employers Holdings, Inc. COM 292218104 1541 36900 SH SOLE 15300 0 21600 Enstar Group Limited COM G3075P101 2317 11200 SH SOLE 4500 0 6700 Entertainment Properties COM 26884U109 4048 57300 SH SOLE 28700 0 28600 Equitable Holdings COM 29452E101 4349 175500 SH SOLE 89400 0 86100 Equity Lifestyle Properties COM 29472R108 8574 121800 SH SOLE 22100 0 99700 Escalade Inc. COM 296056104 102 10402 SH SOLE 10402 0 0 Evolution Petroleum COM 30049A107 83 15100 SH SOLE 15100 0 0 Exxon Mobil Corporation COM 30231G102 4044 57956 SH SOLE 9300 0 48656 FS Bancorp Inc. COM 30263Y104 115 1800 SH SOLE 1800 0 0 FTS International Inc COM 30283W104 183 175700 SH SOLE 70200 0 105500 Farmer Mac COM 313148306 1474 17653 SH SOLE 8753 0 8900 Farmers National Banc COM 309627107 153 9359 SH SOLE 9359 0 0 Fifth Third Bancorp COM 316773100 4571 148700 SH SOLE 49100 0 99600 Financial Institutions Inc. COM 317585404 132 4100 SH SOLE 4100 0 0 First Bancorp COM 318910106 156 3900 SH SOLE 1600 0 2300 First Busey Corporation COM 319383204 184 6700 SH SOLE 2700 0 4000 First Choice Bancorp COM 31948P104 127 4700 SH SOLE 4700 0 0 First Defiance Financial COM 32006W106 142 4500 SH SOLE 1900 0 2600 First Interstate BancSystem A COM 32055Y201 2171 51800 SH SOLE 21300 0 30500 First Merchants Corp COM 320817109 1531 36800 SH SOLE 15100 0 21700 Flagstar Bancorp Inc COM 337930705 2284 59700 SH SOLE 24500 0 35200 Flushing Financial Corp COM 343873105 218 10103 SH SOLE 10103 0 0 Fonar Corporation COM 344437405 214 10893 SH SOLE 10893 0 0 Franklin Resources Inc COM 354613101 1429 55000 SH SOLE 21900 0 33100 GAMCO Investors, Inc. COM 361438104 1097 56300 SH SOLE 32300 0 24000 Garmin Ltd COM H2906T109 6400 65600 SH SOLE 12400 0 53200 Gencor Industries Inc. COM 368678108 111 9490 SH SOLE 9490 0 0 General Motors Company COM 37045V100 8590 234700 SH SOLE 36500 0 198200 Genpact Limited COM G3922B107 5566 132000 SH SOLE 25000 0 107000 Gentex Corporation COM 371901109 1469 50700 SH SOLE 20400 0 30300 Genworth Financial Inc COM 37247D106 1715 389700 SH SOLE 166900 0 222800 Great Ajax Corp COM 38983D300 213 14405 SH SOLE 14405 0 0 Great Southern Bancorp COM 390905107 135 2138 SH SOLE 938 0 1200 Green Brick Partners Inc COM 392709101 212 18482 SH SOLE 18482 0 0 Greene County Bancorp COM 394357107 54 1870 SH SOLE 1870 0 0 Greif Inc cl A COM 397624107 2064 46700 SH SOLE 19000 0 27700 Guaranty Bancshares Inc COM 400764106 43 1300 SH SOLE 1300 0 0 H&E Equipment Services COM 404030108 578 17300 SH SOLE 7100 0 10200 HCA Holdings, Inc. COM 40412C101 10081 68200 SH SOLE 10900 0 57300 HP Inc. COM 40434L105 9856 479600 SH SOLE 76500 0 403100 Hamilton Beach Brands COM 40701T104 48 2500 SH SOLE 2500 0 0 Hawaiian Holdings Inc. COM 419879101 319 10900 SH SOLE 3900 0 7000 Heartland Financial USA COM 42234Q102 313 6300 SH SOLE 2600 0 3700 Hennessy Advisors, Inc. COM 425885100 1 130 SH SOLE 130 0 0 Hilltop Holdings Inc. COM 432748101 299 12000 SH SOLE 0 0 12000 Hingham Institution for Saving COM 433323102 4 21 SH SOLE 21 0 0 HollyFrontier Corporation COM 436106108 5639 111200 SH SOLE 29200 0 82000 Home Bancorp, Inc. COM 43689E107 1 21 SH SOLE 21 0 0 Hooker Furniture Corp COM 439038100 3 107 SH SOLE 107 0 0 Houlihan Lokey, Inc. COM 441593100 1080 22100 SH SOLE 6900 0 15200 Huntington Ingalls Industries COM 446413106 1029 4100 SH SOLE 1500 0 2600 Hurco Companies Inc. COM 447324104 44 1155 SH SOLE 1155 0 0 Independence Holding Co. COM 453440307 120 2857 SH SOLE 2857 0 0 Ingles Markets cl A COM 457030104 2656 55908 SH SOLE 26308 0 29600 International Bancshares COM 459044103 2330 54100 SH SOLE 22900 0 31200 Invesco Limited COM G491BT108 656 36500 SH SOLE 13000 0 23500 Investors Title Company COM 461804106 146 914 SH SOLE 914 0 0 J.Jill, Inc. COM 46620W102 91 80400 SH SOLE 27000 0 53400 JPMorgan Chase & Co. COM 46625H100 8824 63300 SH SOLE 10400 0 52900 Jeld Wen Holding COM 47580P103 1281 54700 SH SOLE 22800 0 31900 JetBlue Airways Corp COM 477143101 650 34700 SH SOLE 16000 0 18700 Johnson Outdoors Inc. COM 479167108 202 2637 SH SOLE 2637 0 0 KKR Real Estate Finance COM 48251K100 65 3200 SH SOLE 3200 0 0 Kelly Services cl A COM 488152208 804 35600 SH SOLE 14600 0 21000 Kimball Electronics, Inc. COM 49428J109 152 8664 SH SOLE 8664 0 0 Kraton Corporation COM 50077C106 1137 44900 SH SOLE 18500 0 26400 Kroger Company COM 501044101 6975 240600 SH SOLE 60000 0 180600 Kronos Worldwide Inc. COM 50105F105 1063 79300 SH SOLE 29800 0 49500 Lakeland Bancorp COM 511637100 28 1600 SH SOLE 1600 0 0 Landstar System Inc. COM 515098101 1537 13500 SH SOLE 6400 0 7100 Laredo Petroleum COM 516806106 2643 920844 SH SOLE 378544 0 542300 Lear Corporation COM 521865204 11950 87100 SH SOLE 19500 0 67600 Lee Enterprises Inc. COM 523768109 2 1148 SH SOLE 1148 0 0 Lennar Corp cl A COM 526057104 497 8900 SH SOLE 4000 0 4900 Lennox International Inc. COM 526107107 10540 43200 SH SOLE 9700 0 33500 Liberty Oilfield Services COM 53115L104 394 35400 SH SOLE 14500 0 20900 Life Storage, Inc. COM 53223X107 1245 11500 SH SOLE 4500 0 7000 Lincoln National Corporation COM 534187109 5110 86600 SH SOLE 22100 0 64500 Loews Corp COM 540424108 3401 64800 SH SOLE 17500 0 47300 Luther Burbank Corporation COM 550550107 209 18093 SH SOLE 18093 0 0 LyondellBasell Industries cl A COM N53745100 10001 105851 SH SOLE 16700 0 89151 M/I Homes, Inc. COM 55305B101 1936 49200 SH SOLE 20200 0 29000 MDC Holdings Inc COM 552676108 2152 56400 SH SOLE 23200 0 33200 MGE Energy Inc. COM 55277P104 717 9100 SH SOLE 3800 0 5300 MSC Industrial Direct Co. COM 553530106 965 12300 SH SOLE 4200 0 8100 MSG Networks Inc. COM 553573106 2394 137600 SH SOLE 56600 0 81000 Macatawa Bank Corp COM 554225102 109 9814 SH SOLE 9814 0 0 ManpowerGroup Inc COM 56418H100 1670 17200 SH SOLE 6700 0 10500 Marine Products Corp COM 568427108 670 46502 SH SOLE 28002 0 18500 Marlin Business Services Corp COM 571157106 106 4805 SH SOLE 4805 0 0 Matson Inc. COM 57686G105 2334 57200 SH SOLE 23700 0 33500 Medical Properties Trust Inc COM 58463J304 5058 239600 SH SOLE 72900 0 166700 Mercantile Bank Corp COM 587376104 106 2900 SH SOLE 2900 0 0 Merchants Bancorp COM 58844R108 239 12138 SH SOLE 12138 0 0 Mesa Air Group COM 590479135 188 21059 SH SOLE 21059 0 0 Micron Technology Inc COM 595112103 10665 198300 SH SOLE 31700 0 166600 Miller Industries Inc. COM 600551204 281 7578 SH SOLE 6078 0 1500 Minerals Technologies COM 603158106 2311 40100 SH SOLE 16600 0 23500 Molson Coors Brewing Co. COM 60871R209 6263 116200 SH SOLE 27400 0 88800 Morgan Stanley COM 617446448 9631 188400 SH SOLE 30900 0 157500 Mueller Industries, Inc. COM 624756102 292 9200 SH SOLE 3800 0 5400 NBT Bancorp Inc. COM 628778102 2231 55000 SH SOLE 22800 0 32200 NI Holdings Inc. COM 65342T106 121 7043 SH SOLE 7043 0 0 NL Industries Inc. COM 629156407 66 16764 SH SOLE 16764 0 0 NVR Inc. COM 62944T105 3047 800 SH SOLE 300 0 500 National Fuel Gas Co. COM 636180101 1112 23900 SH SOLE 2100 0 21800 National General Holdings Corp COM 636220303 2133 96500 SH SOLE 39300 0 57200 National HealthCare Corp COM 635906100 562 6500 SH SOLE 2600 0 3900 National Instruments COM 636518102 1037 24500 SH SOLE 11200 0 13300 National Presto Industries COM 637215104 1697 19200 SH SOLE 8300 0 10900 National Western Life Group A COM 638517102 2153 7400 SH SOLE 2800 0 4600 Natural Health Trends Corp COM 63888P406 47 8793 SH SOLE 8793 0 0 Nelnet Inc COM 64031N108 1840 31600 SH SOLE 12400 0 19200 New Residential Investments COM 64828T201 1651 102500 SH SOLE 40600 0 61900 Northern Trust Corp. COM 665859104 1370 12900 SH SOLE 5500 0 7400 Nve Corporation COM 629445206 631 8831 SH SOLE 5431 0 3400 OGE Energy Corp. COM 670837103 169 3800 SH SOLE 3800 0 0 Office Depot Inc. COM 676220106 754 275300 SH SOLE 114100 0 161200 One Liberty Properties Inc. COM 682406103 78 2882 SH SOLE 2882 0 0 Oshkosh Corporation COM 688239201 530 5600 SH SOLE 2100 0 3500 PBF Energy Inc cl A COM 69318G106 1038 33100 SH SOLE 13600 0 19500 PC Connection, Inc. COM 69318J100 2433 48991 SH SOLE 22791 0 26200 PCB Bancorp COM 69320M109 36 2100 SH SOLE 2100 0 0 PPL Corp. COM 69351T106 8227 229300 SH SOLE 68100 0 161200 Paccar Inc. COM 693718108 6565 83000 SH SOLE 16900 0 66100 Pangaea Logistics Solutions COM G6891L105 95 32363 SH SOLE 32363 0 0 Park National Corp OH COM 700658107 2304 22500 SH SOLE 9200 0 13300 Park-Ohio Holdings Co COM 700666100 1273 37845 SH SOLE 19345 0 18500 Parke Bancorp, Inc. COM 700885106 69 2700 SH SOLE 2700 0 0 PennyMac Financial Service Inc COM 70932M107 2080 61100 SH SOLE 26000 0 35100 Penske Automotive Group, Inc. COM 70959W103 2114 42100 SH SOLE 17700 0 24400 Peoples Bancorp OH COM 709789101 3 89 SH SOLE 89 0 0 Pfizer Inc. COM 717081103 8275 211200 SH SOLE 39100 0 172100 Phillips 66 COM 718546104 9102 81700 SH SOLE 12900 0 68800 Preformed Line Products COM 740444104 111 1841 SH SOLE 1841 0 0 Primoris Services Corp. COM 74164F103 176 7900 SH SOLE 3400 0 4500 Principal Financial Group, Inc. COM 74251V102 10627 193217 SH SOLE 43300 0 149917 Prosperity Bancshares Inc. COM 743606105 784 10900 SH SOLE 5200 0 5700 Provident Financial Services COM 74386T105 436 17700 SH SOLE 6900 0 10800 Prudential Financial Inc COM 744320102 3431 36600 SH SOLE 2600 0 34000 Psychemedics Corporation COM 744375205 1 98 SH SOLE 98 0 0 QCR Holdings, Inc. COM 74727A104 114 2600 SH SOLE 2600 0 0 Quest Diagnostics Inc. COM 74834L100 2040 19100 SH SOLE 0 0 19100 RBB Bancorp COM 74930B105 138 6516 SH SOLE 6516 0 0 RMR Group COM 74967R106 1269 27800 SH SOLE 11400 0 16400 RTI Surgical Holdings Inc COM 74975N105 60 22000 SH SOLE 22000 0 0 Ramaco Resources Inc COM 75134P303 87 24200 SH SOLE 24200 0 0 Rayonier Advanced Materials COM 75508B104 224 58430 SH SOLE 42530 0 15900 Redwood Trust Inc. COM 758075402 572 34600 SH SOLE 18400 0 16200 Regional Management Corp. COM 75902K106 152 5071 SH SOLE 5071 0 0 Reinsurance Group of America, Inc COM 759351604 5283 32400 SH SOLE 16200 0 16200 Reliance Steel & Aluminum COM 759509102 11389 95100 SH SOLE 14700 0 80400 Republic Bancorp KY COM 760281204 2251 48101 SH SOLE 22301 0 25800 Republic Services Inc. COM 760759100 3379 37700 SH SOLE 0 0 37700 ResMed Inc. COM 761152107 93 600 SH SOLE 600 0 0 Ring Energy Inc. COM 76680V108 1 430 SH SOLE 430 0 0 Rush Enterprises Inc COM 781846209 2311 49700 SH SOLE 20400 0 29300 Ryerson Holding Corporation COM 783754104 242 20435 SH SOLE 20435 0 0 S&T Bancorp Inc. COM 783859101 266 6600 SH SOLE 4800 0 1800 Saga Communications Inc. COM 786598300 20 673 SH SOLE 673 0 0 Santander Consumer USA Holdings Inc. COM 80283M101 10161 434800 SH SOLE 125800 0 309000 Saul Centers Inc. COM 804395101 16 300 SH SOLE 300 0 0 Schnitzer Steel Ind cl A COM 806882106 56 2600 SH SOLE 2600 0 0 ServisFirst Bancshares, Inc. COM 81768T108 561 14900 SH SOLE 6600 0 8300 SkyWest Inc. COM 830879102 892 13800 SH SOLE 5900 0 7900 Smart Sand Inc COM 83191H107 84 33172 SH SOLE 33172 0 0 Sonic Automotive, Inc. COM 83545G102 2065 66600 SH SOLE 27500 0 39100 Southern Copper Corp. COM 84265V105 10582 249100 SH SOLE 40500 0 208600 Southern MO Bancorp COM 843380106 60 1563 SH SOLE 1563 0 0 Southwest Airlines Co. COM 844741108 5312 98400 SH SOLE 5000 0 93400 State Street Corporation COM 857477103 348 4400 SH SOLE 1500 0 2900 Steel Dynamics Inc. COM 858119100 1957 57500 SH SOLE 22800 0 34700 Sterling Bancorp Inc COM 85917W102 1036 127869 SH SOLE 64769 0 63100 Summit Fincl Group Inc. COM 86606G101 111 4088 SH SOLE 4088 0 0 Summit Hotel Properties, Inc. COM 866082100 513 41600 SH SOLE 17100 0 24500 Synchrony Financial COM 87165B103 6885 191200 SH SOLE 32600 0 158600 Synnex Corporation COM 87162W100 3362 26100 SH SOLE 10300 0 15800 TPG RE Finance Trust COM 87266M107 718 35400 SH SOLE 9700 0 25700 Tailored Brands Inc COM 87403A107 47 11296 SH SOLE 11296 0 0 Textron Inc. COM 883203101 116 2600 SH SOLE 0 0 2600 The Gap, Inc. COM 364760108 248 14000 SH SOLE 4100 0 9900 The Michaels Companies, Inc. COM 59408Q106 934 115500 SH SOLE 44300 0 71200 Toll Brothers Inc COM 889478103 5504 139300 SH SOLE 27900 0 111400 Tootsie Roll Industries Inc. COM 890516107 314 9200 SH SOLE 2900 0 6300 Towne Bank COM 89214P109 2209 79400 SH SOLE 32700 0 46700 Triton International Ltd COM G9078F107 2380 59200 SH SOLE 24300 0 34900 Tyson Foods COM 902494103 12063 132500 SH SOLE 29900 0 102600 Ubiquiti Inc. COM 90353W103 680 3600 SH SOLE 1500 0 2100 United Security Bancshare COM 911460103 2 218 SH SOLE 218 0 0 United States Lime & Minerals COM 911922102 184 2043 SH SOLE 2043 0 0 Unitil Corp COM 913259107 136 2200 SH SOLE 900 0 1300 Universal Health Services COM 913903100 5165 36000 SH SOLE 6800 0 29200 Universal Logistics Holdings, COM 91388P105 207 10937 SH SOLE 10937 0 0 Unum Group COM 91529Y106 779 26700 SH SOLE 9400 0 17300 Utah Medical Products Inc. COM 917488108 123 1143 SH SOLE 1143 0 0 VMware, Inc. Cl A COM 928563402 9153 60300 SH SOLE 9500 0 50800 VSE Corporation COM 918284100 210 5516 SH SOLE 5516 0 0 Valero Energy Corporation COM 91913Y100 4842 51700 SH SOLE 7100 0 44600 Valley National Bancorp COM 919794107 1372 119840 SH SOLE 48480 0 71360 Value Line Inc. COM 920437100 142 4899 SH SOLE 4899 0 0 VeriSign Inc COM 92343E102 1252 6500 SH SOLE 0 0 6500 Verizon Communications, Inc. COM 92343V104 12476 203200 SH SOLE 32800 0 170400 ViacomCBS Corp. cl B COM 92556H206 14501 345502 SH SOLE 85488 0 260014 Village Super Market COM 927107409 71 3060 SH SOLE 3060 0 0 W&T Offshore Inc. COM 92922P106 817 147010 SH SOLE 80110 0 66900 W.R. Berkley Corp COM 084423102 1513 21900 SH SOLE 8500 0 13400 Wabash National Corp. COM 929566107 1980 134800 SH SOLE 55400 0 79400 Warrior Met Coal, Llc COM 93627C101 2278 107800 SH SOLE 44300 0 63500 Waterstone Financial, Inc (MD) COM 94188P101 87 4576 SH SOLE 4576 1 0 Watsco Inc. COM 942622200 3639 20200 SH SOLE 7200 2 13000 Weis Markets Inc. COM 948849104 385 9500 SH SOLE 3900 3 5600 Wells Fargo & Company COM 949746101 12417 230800 SH SOLE 36700 4 194100 WesBanco Inc. COM 950810101 102 2700 SH SOLE 0 5 2700 West Bancorporation COM 95123P106 18 700 SH SOLE 700 6 0 Westlake Chemical Corporation COM 960413102 2932 41800 SH SOLE 16500 7 25300 Westwood Holdings Group Inc. COM 961765104 1 30 SH SOLE 30 8 0 Weyco Group Inc. COM 962149100 186 7034 SH SOLE 7034 9 0 Willis Lease Finance COM 970646105 211 3581 SH SOLE 3581 10 0 Worthington Industries COM 981811102 852 20200 SH SOLE 10300 11 9900 Wyndham Destinations, Inc. COM 98310W108 1111 21500 SH SOLE 7900 12 13600 Zions Bancorp COM 989701107 312 6000 SH SOLE 3100 13 2900