The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
1st Source Corporation COM 336901103 2 60 SH   SOLE   60 0 0
AFLAC INC COM COM 001055102 16,890 370,710 SH   SOLE   103,910 0 266,800
AG Mortgage Investment Tr COM 001228105 6 371 SH   SOLE   371 0 0
AMC Networks Inc. cl A COM 00164V103 637 11,600 SH   SOLE   4,600 0 7,000
AT&T Inc. COM 00206R102 14,824 519,400 SH   SOLE   137,100 0 382,300
AVX Corporation COM 002444107 3 225 SH   SOLE   225 0 0
Acco Brands Corporation COM 00081T108 2 345 SH   SOLE   345 0 0
Air Lease Corp. Cl A COM 00912X302 1,136 37,600 SH   SOLE   15,600 0 22,000
Aircastle Ltd COM G0129K104 4 209 SH   SOLE   209 0 0
Alexanders Inc. COM 014752109 4 12 SH   SOLE   12 0 0
Allstate Corp. COM 020002101 132 1,600 SH   SOLE   0 0 1,600
Ally Financial Inc. COM 02005N100 320 14,100 SH   SOLE   0 0 14,100
Altria Group Inc COM 02209S103 3,838 77,700 SH   SOLE   22,300 0 55,400
Amdocs Limited COM G02602103 3,304 56,400 SH   SOLE   11,500 0 44,900
Amerco COM 023586100 11,156 34,000 SH   SOLE   10,400 0 23,600
Ameresco Inc COM 02361E108 3 207 SH   SOLE   207 0 0
AmerisourceBergen Corp COM 03073E105 290 3,900 SH   SOLE   0 0 3,900
Ames National Corp. COM 031001100 3 112 SH   SOLE   112 0 0
Amkor Technology Inc COM 031652100 4 623 SH   SOLE   623 0 0
Annaly Capital Mgmt. COM 035710409 6,347 646,300 SH   SOLE   196,200 0 450,100
Apple Inc. COM 037833100 205 1,300 SH   SOLE   0 0 1,300
Aqua America, Inc. COM 03836W103 130 3,800 SH   SOLE   3,800 0 0
Arrow Electronics Inc COM 042735100 16,383 237,600 SH   SOLE   76,100 0 161,500
Arrow Financial Corp. COM 042744102 3 92 SH   SOLE   92 0 0
Artesian Resources Corp COM 043113208 1 24 SH   SOLE   24 0 0
Asbury Automotive Group COM 043436104 3 47 SH   SOLE   47 0 0
Assured Guaranty Ltd COM G0585R106 2,140 55,900 SH   SOLE   22,600 0 33,300
Athene Holding Ltd. COM G0684D107 1,207 30,300 SH   SOLE   14,100 0 16,200
Atrion Corporation COM 049904105 2,372 3,201 SH   SOLE   401 0 2,800
AutoNation Inc. COM 05329W102 1,417 39,700 SH   SOLE   15,900 0 23,800
Avangrid Inc. COM 05351W103 7,899 157,700 SH   SOLE   64,000 0 93,700
BancFirst Corp OK COM 05945F103 3 70 SH   SOLE   70 0 0
Banco Latinoamericano de Comer COM P16994132 3 169 SH   SOLE   169 0 0
Bed Bath & Beyond Inc COM 075896100 3 307 SH   SOLE   307 0 0
Berkshire Hathaway cl B COM 084670702 17,539 85,900 SH   SOLE   26,300 0 59,600
Biospecifics Tech Corp COM 090931106 3 49 SH   SOLE   49 0 0
Booz Allen Hamilton cl A COM 099502106 1,618 35,900 SH   SOLE   7,600 0 28,300
Bridgford Foods Corp. COM 108763103 1 68 SH   SOLE   68 0 0
Brown-Forman cl B COM 115637209 13,956 293,315 SH   SOLE   89,540 0 203,775
Buckle Inc. COM 118440106 3 134 SH   SOLE   134 0 0
CBRE Group, Inc. COM 12504L109 296 7,400 SH   SOLE   4,300 0 3,100
CDK Global COM 12508E101 531 11,100 SH   SOLE   4,200 0 6,900
CDW Corporation COM 12514G108 1,767 21,800 SH   SOLE   500 0 21,300
CNA Financial Corp. COM 126117100 15,859 359,200 SH   SOLE   116,600 0 242,600
CNB Financial Corp PA COM 126128107 2 74 SH   SOLE   74 0 0
CVR Energy, Inc. COM 12662P108 0 12 SH   SOLE   12 0 0
Capital One Financial Corp. COM 14040H105 6,365 84,200 SH   SOLE   27,200 0 57,000
Cardinal Health Inc. COM 14149Y108 321 7,200 SH   SOLE   2,800 0 4,400
Centennial Resource Development COM 15136A102 106 9,600 SH   SOLE   0 0 9,600
Century Bancorp cl A COM 156432106 3 48 SH   SOLE   48 0 0
Chemed Corporation COM 16359R103 793 2,800 SH   SOLE   700 0 2,100
Choice Hotels Intl COM 169905106 802 11,200 SH   SOLE   3,800 0 7,400
Cincinnati Financial Corp COM 172062101 426 5,500 SH   SOLE   1,000 0 4,500
Comcast cl A COM 20030N101 11,550 339,200 SH   SOLE   86,000 0 253,200
Community Trust Bancorp COM 204149108 2 43 SH   SOLE   43 0 0
Compx International Inc COM 020563P10 2 167 SH   SOLE   167 0 0
Consolidated Tomoka Land Company COM 210226106 3 63 SH   SOLE   63 0 0
Consumer Portfolio Services COM 210502100 2 550 SH   SOLE   550 0 0
Continental Resources, Inc. COM 212015101 2,524 62,800 SH   SOLE   8,100 0 54,700
Corning Incorporated COM 219350105 441 14,600 SH   SOLE   0 0 14,600
Costamare Inc COM Y1771G102 3 762 SH   SOLE   762 0 0
Credit Acceptance Corp COM 225310101 534 1,400 SH   SOLE   500 0 900
Culp Inc. COM 230215105 2 93 SH   SOLE   93 0 0
Customers Bancorp Inc COM 23204G100 1 77 SH   SOLE   77 0 0
DISH Network Corp cl A COM 25470M109 2,402 96,200 SH   SOLE   33,400 0 62,800
DTE Energy Corp. COM 233331107 375 3,400 SH   SOLE   3,400 0 0
DaVita HealthCare Partners Inc COM 23918K108 304 5,900 SH   SOLE   1,900 0 4,000
Discover Financial Services COM 254709108 9,564 162,156 SH   SOLE   53,456 0 108,700
Eastman Chemical Co COM 277432100 1,608 22,000 SH   SOLE   10,400 0 11,600
Eaton Corporation, plc COM G29183103 9,213 134,178 SH   SOLE   41,578 0 92,600
Emerald Expositions Events, Inc. COM 29103B100 3 208 SH   SOLE   208 0 0
Employers Holdings, Inc. COM 292218104 4 101 SH   SOLE   101 0 0
Enstar Group Limited COM G3075P101 4 24 SH   SOLE   24 0 0
Enterprise Bancorp Inc Mass COM 293668109 3 104 SH   SOLE   104 0 0
Entertainment Properties COM 26884U109 8,554 133,600 SH   SOLE   51,100 0 82,500
Escalade Inc. COM 296056104 1 121 SH   SOLE   121 0 0
Eversource Energy COM 30040W108 351 5,400 SH   SOLE   0 0 5,400
Evolution Petroleum COM 30049A107 4 578 SH   SOLE   578 0 0
Exxon Mobil Corporation COM 30231G102 3,809 55,856 SH   SOLE   18,356 0 37,500
FBL Financial Group cl A COM 30239F106 3 39 SH   SOLE   39 0 0
Farmers National Banc COM 309627107 1 62 SH   SOLE   62 0 0
Fifth Third Bancorp COM 316773100 11,377 483,500 SH   SOLE   153,900 0 329,600
Financial Institutions Inc. COM 317585404 4 139 SH   SOLE   139 0 0
First Defiance Financial COM 32006W106 4 148 SH   SOLE   148 0 0
First Financial Corp (IN) COM 320218100 5 136 SH   SOLE   136 0 0
First Interstate BancSystem A COM 32055Y201 2 59 SH   SOLE   59 0 0
Flexsteel Industries Inc. COM 339382103 2 102 SH   SOLE   102 0 0
Flushing Financial Corp COM 343873105 3 128 SH   SOLE   128 0 0
Fonar Corporation COM 344437405 3 150 SH   SOLE   150 0 0
Ford Motor Company COM 345370860 2,188 286,000 SH   SOLE   67,500 0 218,500
Four Corners PPTY Trust COM 035086T10 4 143 SH   SOLE   143 0 0
Franklin Resources Inc COM 354613101 12,954 436,743 SH   SOLE   141,543 0 295,200
FutureFuel Corp COM 36116M106 5 327 SH   SOLE   327 0 0
GAMCO Investors, Inc. COM 361438104 2 126 SH   SOLE   126 0 0
Gaming and Leisure Properties, Inc. COM 36467J108 120 3,700 SH   SOLE   0 0 3,700
Garmin Ltd COM H2906T109 7,636 120,600 SH   SOLE   40,500 0 80,100
General Motors Company COM 37045V100 14,427 431,300 SH   SOLE   122,300 0 309,000
Genpact Limited COM G3922B107 157 5,800 SH   SOLE   0 0 5,800
Gentex Corporation COM 371901109 663 32,800 SH   SOLE   12,000 0 20,800
German American Bancorp COM 373865104 3 118 SH   SOLE   118 0 0
Gilead Sciences, Inc. COM 375558103 10,046 160,603 SH   SOLE   46,603 0 114,000
Grand Canyon Education, Inc COM 38526M106 106 1,100 SH   SOLE   1,100 0 0
Gray Television Inc COM 389375106 1 48 SH   SOLE   48 0 0
Great Southern Bancorp COM 390905107 7 154 SH   SOLE   154 0 0
Greene County Bancorp COM 394357107 2 80 SH   SOLE   80 0 0
HCA Holdings, Inc. COM 40412C101 13,901 111,700 SH   SOLE   30,800 0 80,900
HP Inc. COM 40434L105 11,850 579,200 SH   SOLE   148,600 0 430,600
Hamilton Beach Brands COM 40701T104 1 63 SH   SOLE   63 0 0
Hennessy Advisors, Inc. COM 425885100 2 174 SH   SOLE   174 0 0
Hingham Institution for Saving COM 433323102 2 10 SH   SOLE   10 0 0
HollyFrontier Corporation COM 436106108 2,096 41,000 SH   SOLE   11,000 0 30,000
Hyster-Yale Materials Handling COM 449172105 1 16 SH   SOLE   16 0 0
Ichor Holdings Ltd COM G4740B105 2 136 SH   SOLE   136 0 0
Ingles Markets cl A COM 457030104 6 216 SH   SOLE   216 0 0
Ingredion Incorporated COM 457187102 5,201 56,900 SH   SOLE   13,100 0 43,800
International Bancshares COM 459044103 4 116 SH   SOLE   116 0 0
International Speedway Corp COM 460335201 5 105 SH   SOLE   105 0 0
Investors Title Company COM 461804106 2 11 SH   SOLE   11 0 0
J.Jill, Inc. COM 46620W102 4 708 SH   SOLE   708 0 0
JetBlue Airways Corp COM 477143101 557 34,700 SH   SOLE   16,000 0 18,700
Kelly Services cl A COM 488152208 1 70 SH   SOLE   70 0 0
Kimball Electronics, Inc. COM 49428J109 3 214 SH   SOLE   214 0 0
Kimball International cl B COM 494274103 3 224 SH   SOLE   224 0 0
Kraft Heinz Co COM 500754106 1,834 42,600 SH   SOLE   8,900 0 33,700
Laboratory Corp of America COM 50540R409 543 4,300 SH   SOLE   200 0 4,100
Lamar Advertising Co. COM 512816109 989 14,300 SH   SOLE   5,000 0 9,300
Landstar System Inc. COM 515098101 1,177 12,300 SH   SOLE   3,500 0 8,800
Lear Corporation COM 521865204 7,777 63,300 SH   SOLE   20,300 0 43,000
Lee Enterprises Inc. COM 523768109 2 986 SH   SOLE   986 0 0
Lennox International Inc. COM 526107107 1,838 8,400 SH   SOLE   3,600 0 4,800
Lincoln National Corporation COM 534187109 7,460 145,400 SH   SOLE   57,000 0 88,400
LyondellBasell Industries cl A COM N53745100 10,308 123,951 SH   SOLE   30,851 0 93,100
M&T Bank Corp. COM 55261F104 1,045 7,300 SH   SOLE   4,500 0 2,800
M/I Homes, Inc. COM 55305B101 1 63 SH   SOLE   63 0 0
MSC Industrial Direct Co. COM 553530106 946 12,300 SH   SOLE   4,200 0 8,100
MSG Networks Inc. COM 553573106 4 178 SH   SOLE   178 0 0
Manhattan Associates, Inc. COM 562750109 11,016 260,000 SH   SOLE   76,000 0 184,000
Marathon Petroleum Corp COM 56585A102 387 6,561 SH   SOLE   0 0 6,561
Marcus & Millichap, Inc. COM 566324109 4 121 SH   SOLE   121 0 0
Marine Products Corp COM 568427108 5 288 SH   SOLE   288 0 0
Marlin Business Services Corp COM 571157106 2 107 SH   SOLE   107 0 0
Match Group, Inc. COM 57665R106 411 9,600 SH   SOLE   4,400 0 5,200
Matson Inc. COM 57686G105 4 124 SH   SOLE   124 0 0
McGrath RentCorp COM 580589109 1 27 SH   SOLE   27 0 0
Medical Properties Trust Inc COM 58463J304 6,151 382,500 SH   SOLE   176,700 0 205,800
Merchants Bancorp COM 58844R108 2 115 SH   SOLE   115 0 0
Meritage Homes Corp COM 59001A102 4 96 SH   SOLE   96 0 0
Meritor, Inc. COM 59001K100 1 58 SH   SOLE   58 0 0
Micron Technology Inc COM 595112103 8,792 277,100 SH   SOLE   79,800 0 197,300
Microsoft Corporation COM 594918104 91 900 SH   SOLE   0 0 900
Miller Industries Inc. COM 600551204 4 141 SH   SOLE   141 0 0
Mueller Industries, Inc. COM 624756102 1 46 SH   SOLE   46 0 0
Murphy USA, Inc. COM 626755102 1,387 18,100 SH   SOLE   6,800 0 11,300
NBT Bancorp Inc. COM 628778102 4 120 SH   SOLE   120 0 0
NL Industries Inc. COM 629156407 1 313 SH   SOLE   313 0 0
NVR Inc. COM 62944T105 4,947 2,030 SH   SOLE   500 0 1,530
Napco Security Technologies COM 630402105 3 193 SH   SOLE   193 0 0
National Fuel Gas Co. COM 636180101 8,225 160,700 SH   SOLE   49,800 0 110,900
National General Holdings Corp COM 636220303 1 27 SH   SOLE   27 0 0
National HealthCare Corp COM 635906100 2 24 SH   SOLE   24 0 0
National Instruments COM 636518102 1,112 24,500 SH   SOLE   11,200 0 13,300
National Western Life Group A COM 638517102 5 15 SH   SOLE   15 0 0
Natural Health Trends Corp COM 63888P406 3 170 SH   SOLE   170 0 0
Nelnet Inc COM 64031N108 4 80 SH   SOLE   80 0 0
Northern Trust Corp. COM 665859104 1,254 15,000 SH   SOLE   4,500 0 10,500
Office Depot Inc. COM 676220106 3 1,307 SH   SOLE   1,307 0 0
Old Dominion Freight COM 679580100 988 8,000 SH   SOLE   3,700 0 4,300
One Liberty Properties Inc. COM 682406103 4 150 SH   SOLE   150 0 0
Oritani Financial Corp. COM 68633D103 1 59 SH   SOLE   59 0 0
Otter Tail Corp COM 689648103 4 89 SH   SOLE   89 0 0
PBF Energy Inc cl A COM 69318G106 7,096 217,200 SH   SOLE   73,500 0 143,700
PC Connection, Inc. COM 69318J100 7 232 SH   SOLE   232 0 0
PDL BioPharma, Inc. COM 69329Y104 1 330 SH   SOLE   330 0 0
PPL Corp. COM 69351T106 11,989 423,196 SH   SOLE   113,996 0 309,200
Park National Corp OH COM 700658107 3 40 SH   SOLE   40 0 0
Park-Ohio Holdings Co COM 700666100 6 197 SH   SOLE   197 0 0
Parsley Energy Inc. COM 701877102 3,442 215,400 SH   SOLE   77,000 0 138,400
Party City Holdco Inc. COM 702150103 1 84 SH   SOLE   84 0 0
Penske Automotive Group, Inc. COM 70959W103 1,697 42,100 SH   SOLE   17,700 0 24,400
Peoples Bancorp OH COM 709789101 1 25 SH   SOLE   25 0 0
Phibro Animal Health Corp CL A COM 71742Q106 2 49 SH   SOLE   49 0 0
Phillips 66 COM 718546104 4,842 56,200 SH   SOLE   16,500 0 39,700
Pilgrims Pride Corp COM 72147K108 2,938 189,400 SH   SOLE   66,200 0 123,200
Principal Financial Group, Inc. COM 74251V102 10,434 236,217 SH   SOLE   77,317 0 158,900
Provident Financial Services COM 74386T105 1 37 SH   SOLE   37 0 0
Prudential Financial Inc COM 744320102 1,908 23,400 SH   SOLE   10,300 0 13,100
Psychemedics Corporation COM 744375205 1 84 SH   SOLE   84 0 0
Public Storage, Inc. COM 74460D109 1,538 7,600 SH   SOLE   0 0 7,600
Quest Diagnostics Inc. COM 74834L100 158 1,900 SH   SOLE   1,900 0 0
RBB Bancorp COM 74930B105 2 99 SH   SOLE   99 0 0
RMR Group COM 74967R106 2 38 SH   SOLE   38 0 0
Rayonier Inc. COM 754907103 58 2,100 SH   SOLE   2,100 0 0
Ready Capital COM 86933G105 3 217 SH   SOLE   217 0 0
Reinsurance Group of America, Inc COM 759351604 2,552 18,200 SH   SOLE   6,900 0 11,300
Republic Bancorp KY COM 760281204 8 197 SH   SOLE   197 0 0
ResMed Inc. COM 761152107 14,063 123,500 SH   SOLE   36,700 0 86,800
Robert Half International Inc. COM 770323103 11,863 207,400 SH   SOLE   54,300 0 153,100
Ryerson Holding Corporation COM 783754104 2 242 SH   SOLE   242 0 0
S&T Bancorp Inc. COM 783859101 4 109 SH   SOLE   109 0 0
SJW Group COM 784305104 3 47 SH   SOLE   47 0 0
Saga Communications Inc. COM 786598300 2 60 SH   SOLE   60 0 0
Santander Consumer USA Holdings Inc. COM 80283M101 12,883 732,400 SH   SOLE   243,900 0 488,500
ScanSource, Inc. COM 806037107 4 121 SH   SOLE   121 0 0
Sonic Automotive, Inc. COM 83545G102 2 136 SH   SOLE   136 0 0
Southern Copper Corp. COM 84265V105 9,296 302,100 SH   SOLE   88,600 0 213,500
Southern MO Bancorp COM 843380106 2 54 SH   SOLE   54 0 0
Steelcase Inc cl A COM 858155203 4 249 SH   SOLE   249 0 0
Sun Trust Banks Inc COM 867914103 96 1,900 SH   SOLE   1,900 0 0
Synchrony Financial COM 87165B103 4,493 191,500 SH   SOLE   40,200 0 151,300
TEGNA Inc. COM 87901J105 4 373 SH   SOLE   373 0 0
Teledyne Technologies Inc. COM 879360105 124 600 SH   SOLE   600 0 0
The Gap, Inc. COM 364760108 819 31,800 SH   SOLE   11,900 0 19,900
The Michaels Companies, Inc. COM 59408Q106 1,154 85,200 SH   SOLE   34,400 0 50,800
The Travelers Companies, Inc. COM 89417E109 6,514 54,400 SH   SOLE   14,400 0 40,000
Torchmark Corp COM 891027104 1,282 17,200 SH   SOLE   7,300 0 9,900
Toro Company COM 891092108 542 9,700 SH   SOLE   2,800 0 6,900
Trecora Resources COM 894648104 1 160 SH   SOLE   160 0 0
Triton International Ltd COM G9078F107 4 128 SH   SOLE   128 0 0
Tyson Foods COM 902494103 12,805 239,800 SH   SOLE   71,100 0 168,700
Ubiquiti Networks, Inc. COM 90347A100 944 9,500 SH   SOLE   4,400 0 5,100
United Continental Hldg, Inc. COM 910047109 2,688 32,100 SH   SOLE   11,700 0 20,400
United States Lime & Minerals COM 911922102 2 30 SH   SOLE   30 0 0
United Therapeutics Corp. COM 91307C102 10,128 93,000 SH   SOLE   27,800 0 65,200
Unity Bancorp Inc COM 091329010 2 92 SH   SOLE   92 0 0
Universal Insurance Hldgs COM 91359V107 4 106 SH   SOLE   106 0 0
Universal Logistics Holdings, COM 91388P105 5 289 SH   SOLE   289 0 0
Urstadt Biddle Prop cl A COM 917286205 3 172 SH   SOLE   172 0 0
Utah Medical Products Inc. COM 917488108 2 20 SH   SOLE   20 0 0
VSE Corporation COM 918284100 3 102 SH   SOLE   102 0 0
Valero Energy Corporation COM 91913Y100 2,159 28,800 SH   SOLE   7,800 0 21,000
Vectrus, Inc. COM 92242T101 1 68 SH   SOLE   68 0 0
VeriSign Inc COM 92343E102 9,179 61,900 SH   SOLE   18,700 0 43,200
Verizon Communications, Inc. COM 92343V104 21,841 388,500 SH   SOLE   113,000 0 275,500
Versum Materials, Inc. COM 92532W103 424 15,300 SH   SOLE   5,000 0 10,300
Viacom Inc cl B COM 92553P201 10,419 405,400 SH   SOLE   141,000 0 264,400
Village Super Market COM 927107409 3 103 SH   SOLE   103 0 0
W.P. Carey Inc. REIT COM 92936U109 12,114 185,400 SH   SOLE   51,000 0 134,400
WEC Energy Group COM 92939U106 2,320 33,500 SH   SOLE   11,700 0 21,800
Walker & Dunlop, Inc. COM 93148P102 2 55 SH   SOLE   55 0 0
Walmart Inc. COM 931142103 6,497 69,751 SH   SOLE   16,851 0 52,900
Warrior Met Coal, Llc COM 93627C101 4 183 SH   SOLE   183 0 0
Washington Trust Bancorp COM 940610108 2 38 SH   SOLE   38 0 0
Waterstone Financial, Inc (MD) COM 94188P101 2 118 SH   SOLE   118 0 0
Wells Fargo & Company COM 949746101 20,160 437,500 SH   SOLE   127,200 0 310,300
West Bancorporation COM 95123P106 3 137 SH   SOLE   137 0 0
Weyco Group Inc. COM 962149100 3 114 SH   SOLE   114 0 0
Wildhorse Resource Development COM 96812T102 341 24,200 SH   SOLE   24,200 0 0
Williams-Sonoma Inc. COM 969904101 348 6,900 SH   SOLE   2,400 0 4,500
Willis Lease Finance COM 970646105 4 124 SH   SOLE   124 0 0
Winmark Corporation COM 974250102 7 46 SH   SOLE   46 0 0