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 3 60 SH   SOLE   60 0 0
AFLAC INC COM COM 001055102 16,931 338,610 SH   SOLE   95,110 0 243,500
AG Mortgage Investment Tr COM 001228105 6 329 SH   SOLE   329 0 0
AMC Networks Inc. cl A COM 00164V103 380 6,700 SH   SOLE   2,900 0 3,800
AT&T Inc. COM 00206R102 24,053 767,000 SH   SOLE   220,700 0 546,300
AVX Corporation COM 002444107 4 225 SH   SOLE   14,925 0 0
Acco Brands Corporation COM 00081T108 3 345 SH   SOLE   18,445 0 0
Advansix Inc COM 00773T101 1 52 SH   SOLE   8,952 0 0
Air Lease Corp. Cl A COM 00912X302 2,817 82,000 SH   SOLE   31,600 0 50,400
Aircastle Ltd COM G0129K104 4 209 SH   SOLE   13,009 0 0
Alexanders Inc. COM 014752109 5 12 SH   SOLE   712 0 0
Alliance Data Systems Corp COM 018581108 1,067 6,100 SH   SOLE   2,800 0 3,300
Allstate Corp. COM 020002101 151 1,600 SH   SOLE   0 0 1,600
Ally Financial Inc. COM 02005N100 388 14,100 SH   SOLE   0 0 14,100
Altria Group Inc COM 02209S103 4,996 87,000 SH   SOLE   25,600 0 61,400
Amdocs Limited COM G02602103 3,052 56,400 SH   SOLE   11,500 0 44,900
Amerco COM 023586100 8,842 23,800 SH   SOLE   7,500 0 16,300
AmerisourceBergen Corp COM 03073E105 4,215 53,000 SH   SOLE   19,900 0 33,100
Ames National Corp. COM 031001100 3 112 SH   SOLE   112 0 0
Amkor Technology Inc COM 031652100 4 520 SH   SOLE   29,720 0 0
Annaly Capital Mgmt. COM 035710409 6,457 646,300 SH   SOLE   196,200 0 450,100
Apple Inc. COM 037833100 152 800 SH   SOLE   0 0 800
Arrow Electronics Inc COM 042735100 18,047 234,200 SH   SOLE   73,100 0 161,100
Arrow Financial Corp. COM 042744102 4 109 SH   SOLE   109 0 0
Asbury Automotive Group COM 043436104 2 23 SH   SOLE   1,923 0 0
Assured Guaranty Ltd COM G0585R106 3,976 89,500 SH   SOLE   37,000 0 52,500
Athene Holding Ltd. COM G0684D107 1,236 30,300 SH   SOLE   14,100 0 16,200
Atrion Corporation COM 049904105 2,460 2,800 SH   SOLE   400 0 2,400
AutoNation Inc. COM 05329W102 1,800 50,400 SH   SOLE   19,400 0 31,000
Avangrid Inc. COM 05351W103 11,968 237,700 SH   SOLE   84,100 0 153,600
BB&T Corp COM 054937107 1,773 38,100 SH   SOLE   8,300 0 29,800
BancFirst Corp OK COM 05945F103 4 81 SH   SOLE   5,081 0 0
Banco Latinoamericano de Comer COM P16994132 3 169 SH   SOLE   169 0 0
Bed Bath & Beyond Inc COM 075896100 5 307 SH   SOLE   307 0 0
Berkshire Hathaway cl B COM 084670702 14,524 72,300 SH   SOLE   21,500 0 50,800
Biospecifics Tech Corp COM 090931106 2 26 SH   SOLE   26 0 0
Bluegreen Vacations Corp COM 09629F108 2 153 SH   SOLE   153 0 0
Booz Allen Hamilton cl A COM 099502106 2,087 35,900 SH   SOLE   7,600 0 28,300
Brown-Forman cl B COM 115637209 15,323 290,315 SH   SOLE   89,540 0 200,775
Buckle Inc. COM 118440106 1 53 SH   SOLE   53 0 0
CDK Global COM 12508E101 7,464 126,900 SH   SOLE   36,300 0 90,600
CDW Corporation COM 12514G108 2,101 21,800 SH   SOLE   500 0 21,300
CNA Financial Corp. COM 126117100 15,818 364,900 SH   SOLE   119,000 0 245,900
CNB Financial Corp PA COM 126128107 2 74 SH   SOLE   74 0 0
Capital One Financial Corp. COM 14040H105 1,364 16,700 SH   SOLE   1,900 0 14,800
Cardinal Health Inc. COM 14149Y108 347 7,200 SH   SOLE   2,800 0 4,400
Century Bancorp cl A COM 156432106 4 48 SH   SOLE   48 0 0
Chubb Limited COM H1467J104 14,498 103,500 SH   SOLE   31,300 0 72,200
Comcast cl A COM 20030N101 8,716 218,000 SH   SOLE   53,300 0 164,700
Community Trust Bancorp COM 204149108 3 68 SH   SOLE   68 0 0
Compx International Inc COM 020563P10 2 167 SH   SOLE   167 0 0
Consolidated Tomoka Land Company COM 210226106 4 63 SH   SOLE   2,263 0 0
Consumer Portfolio Services COM 210502100 2 550 SH   SOLE   550 0 0
Continental Resources, Inc. COM 212015101 2,243 50,100 SH   SOLE   8,100 0 42,000
Corning Incorporated COM 219350105 483 14,600 SH   SOLE   0 0 14,600
Costamare Inc COM Y1771G102 4 762 SH   SOLE   52,462 0 0
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 5,143 162,300 SH   SOLE   54,400 0 107,900
DaVita HealthCare Partners Inc COM 23918K108 320 5,900 SH   SOLE   1,900 0 4,000
Discover Financial Services COM 254709108 10,706 150,456 SH   SOLE   45,556 0 104,900
Dolby Laboratories Inc. COM 25659T107 220 3,500 SH   SOLE   1,400 0 2,100
Eastman Chemical Co COM 277432100 1,669 22,000 SH   SOLE   10,400 0 11,600
Eaton Corporation, plc COM G29183103 11,470 142,378 SH   SOLE   36,078 0 106,300
Employers Holdings, Inc. COM 292218104 4 101 SH   SOLE   1,401 0 0
Enstar Group Limited COM G3075P101 4 24 SH   SOLE   1,524 0 0
Enterprise Bancorp Inc Mass COM 293668109 0 10 SH   SOLE   10 0 0
Entertainment Properties COM 26884U109 11,281 146,700 SH   SOLE   51,000 0 95,700
Equity Lifestyle Properties COM 29472R108 6,344 55,500 SH   SOLE   16,700 0 38,800
Escalade Inc. COM 296056104 2 169 SH   SOLE   169 0 0
Eversource Energy COM 30040W108 270 3,800 SH   SOLE   0 0 3,800
Evolution Petroleum COM 30049A107 2 282 SH   SOLE   282 0 0
Exxon Mobil Corporation COM 30231G102 4,513 55,856 SH   SOLE   18,356 0 37,500
FBL Financial Group cl A COM 30239F106 2 39 SH   SOLE   39 0 0
FTS International Inc COM 30283W104 4 443 SH   SOLE   18,243 0 0
Farmers National Banc COM 309627107 1 62 SH   SOLE   62 0 0
Fifth Third Bancorp COM 316773100 11,790 467,500 SH   SOLE   153,900 0 313,600
Financial Institutions Inc. COM 317585404 4 139 SH   SOLE   139 0 0
First Defiance Financial COM 32006W106 2 83 SH   SOLE   83 0 0
First Financial Corp (IN) COM 320218100 8 185 SH   SOLE   185 0 0
First Interstate BancSystem A COM 32055Y201 2 59 SH   SOLE   6,659 0 0
Flexsteel Industries Inc. COM 339382103 2 102 SH   SOLE   102 0 0
Flushing Financial Corp COM 343873105 4 164 SH   SOLE   164 0 0
Fonar Corporation COM 344437405 3 150 SH   SOLE   150 0 0
Ford Motor Company COM 345370860 2,511 286,000 SH   SOLE   67,500 0 218,500
Franklin Resources Inc COM 354613101 14,046 423,843 SH   SOLE   141,243 0 282,600
FutureFuel Corp COM 36116M106 4 327 SH   SOLE   327 0 0
GAMCO Investors, Inc. COM 361438104 3 151 SH   SOLE   10,051 0 0
Garmin Ltd COM H2906T109 9,645 111,700 SH   SOLE   38,700 0 73,000
General Motors Company COM 37045V100 15,871 427,800 SH   SOLE   122,000 0 305,800
Genpact Limited COM G3922B107 204 5,800 SH   SOLE   0 0 5,800
Gentex Corporation COM 371901109 1,328 64,200 SH   SOLE   23,100 0 41,100
Genworth Financial Inc COM 37247D106 1 218 SH   SOLE   66,318 0 0
German American Bancorp COM 373865104 1 45 SH   SOLE   45 0 0
Gilead Sciences, Inc. COM 375558103 10,441 160,603 SH   SOLE   46,603 0 114,000
Great Southern Bancorp COM 390905107 8 154 SH   SOLE   154 0 0
Greene County Bancorp COM 394357107 2 80 SH   SOLE   80 0 0
H&R Block, Inc. COM 093671105 577 24,100 SH   SOLE   12,200 0 11,900
HCA Holdings, Inc. COM 40412C101 14,668 112,500 SH   SOLE   31,600 0 80,900
HP Inc. COM 40434L105 16,502 849,300 SH   SOLE   238,500 0 610,800
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 13 SH   SOLE   13 0 0
HollyFrontier Corporation COM 436106108 2,537 51,500 SH   SOLE   12,800 0 38,700
Ichor Holdings Ltd COM G4740B105 1 55 SH   SOLE   55 0 0
Ingles Markets cl A COM 457030104 6 216 SH   SOLE   8,916 0 0
Ingredion Incorporated COM 457187102 5,388 56,900 SH   SOLE   13,100 0 43,800
International Bancshares COM 459044103 4 116 SH   SOLE   7,016 0 0
International Speedway Corp COM 460335201 4 90 SH   SOLE   5,990 0 0
Investors Title Company COM 461804106 2 11 SH   SOLE   11 0 0
J.Jill, Inc. COM 46620W102 4 818 SH   SOLE   15,918 0 0
JPMorgan Chase & Co. COM 46625H100 1,012 10,000 SH   SOLE   10,000 0 0
JetBlue Airways Corp COM 477143101 568 34,700 SH   SOLE   16,000 0 18,700
Kelly Services cl A COM 488152208 2 70 SH   SOLE   4,470 0 0
Kimball Electronics, Inc. COM 49428J109 4 257 SH   SOLE   257 0 0
Kimball International cl B COM 494274103 3 224 SH   SOLE   224 0 0
L Brands Inc COM 501797104 185 6,700 SH   SOLE   2,400 0 4,300
Lamar Advertising Co. COM 512816109 1,133 14,300 SH   SOLE   5,000 0 9,300
Landstar System Inc. COM 515098101 6,345 58,000 SH   SOLE   23,100 0 34,900
Laredo Petroleum COM 516806106 1 305 SH   SOLE   30,805 0 0
Lear Corporation COM 521865204 6,840 50,400 SH   SOLE   16,400 0 34,000
Lee Enterprises Inc. COM 523768109 3 986 SH   SOLE   986 0 0
Lennox International Inc. COM 526107107 6,081 23,000 SH   SOLE   7,500 0 15,500
Lincoln National Corporation COM 534187109 7,578 129,100 SH   SOLE   50,000 0 79,100
Luther Burbank Corporation COM 550550107 3 258 SH   SOLE   258 0 0
LyondellBasell Industries cl A COM N53745100 11,010 130,951 SH   SOLE   31,851 0 99,100
M&T Bank Corp. COM 55261F104 157 1,000 SH   SOLE   1,000 0 0
M/I Homes, Inc. COM 55305B101 2 63 SH   SOLE   1,163 0 0
MSC Industrial Direct Co. COM 553530106 1,017 12,300 SH   SOLE   4,200 0 8,100
MSG Networks Inc. COM 553573106 4 178 SH   SOLE   11,778 0 0
Manhattan Associates, Inc. COM 562750109 9,661 175,300 SH   SOLE   54,400 0 120,900
Marathon Petroleum Corp COM 56585A102 393 6,561 SH   SOLE   0 0 6,561
Marcus & Millichap, Inc. COM 566324109 1 27 SH   SOLE   6,027 0 0
Marine Products Corp COM 568427108 5 381 SH   SOLE   12,181 0 0
Marlin Business Services Corp COM 571157106 2 107 SH   SOLE   107 0 0
Match Group, Inc. COM 57665R106 266 4,700 SH   SOLE   1,900 0 2,800
Matson Inc. COM 57686G105 4 124 SH   SOLE   7,324 0 0
Medical Properties Trust Inc COM 58463J304 6,823 368,600 SH   SOLE   171,300 0 197,300
Merchants Bancorp COM 58844R108 3 145 SH   SOLE   145 0 0
Meritage Homes Corp COM 59001A102 4 96 SH   SOLE   5,896 0 0
Meritor, Inc. COM 59001K100 1 58 SH   SOLE   58 0 0
Micron Technology Inc COM 595112103 16,309 394,600 SH   SOLE   109,300 0 285,300
Microsoft Corporation COM 594918104 189 1,600 SH   SOLE   0 0 1,600
Miller Industries Inc. COM 600551204 3 110 SH   SOLE   110 0 0
Minerals Technologies COM 603158106 3 58 SH   SOLE   4,558 0 0
Morgan Stanley COM 617446448 810 19,200 SH   SOLE   0 0 19,200
Mueller Industries, Inc. COM 624756102 1 22 SH   SOLE   22 0 0
Murphy USA, Inc. COM 626755102 1,550 18,100 SH   SOLE   6,800 0 11,300
NBT Bancorp Inc. COM 628778102 4 120 SH   SOLE   7,420 0 0
NL Industries Inc. COM 629156407 1 313 SH   SOLE   313 0 0
NVR Inc. COM 62944T105 2,767 1,000 SH   SOLE   300 0 700
Napco Security Technologies COM 630402105 3 157 SH   SOLE   157 0 0
National Beverage Corp COM 635017106 2 30 SH   SOLE   4,530 0 0
National Fuel Gas Co. COM 636180101 14,070 230,800 SH   SOLE   72,100 0 158,700
National General Holdings Corp COM 636220303 1 51 SH   SOLE   10,651 0 0
National HealthCare Corp COM 635906100 2 24 SH   SOLE   24 0 0
National Instruments COM 636518102 1,087 24,500 SH   SOLE   11,200 0 13,300
National Western Life Group A COM 638517102 3 13 SH   SOLE   813 0 0
Natural Health Trends Corp COM 63888P406 5 357 SH   SOLE   10,257 0 0
Nelnet Inc COM 64031N108 4 80 SH   SOLE   4,780 0 0
Newmark Group COM 65158N102 1 174 SH   SOLE   30,474 0 0
Northern Trust Corp. COM 665859104 976 10,800 SH   SOLE   4,500 0 6,300
OGE Energy Corp. COM 670837103 164 3,800 SH   SOLE   3,800 0 0
Office Depot Inc. COM 676220106 5 1,307 SH   SOLE   35,407 0 0
Old Dominion Freight COM 679580100 116 800 SH   SOLE   800 0 0
One Liberty Properties Inc. COM 682406103 4 150 SH   SOLE   150 0 0
Oritani Financial Corp. COM 68633D103 1 59 SH   SOLE   15,559 0 0
Otter Tail Corp COM 689648103 4 80 SH   SOLE   80 0 0
PBF Energy Inc cl A COM 69318G106 7,249 232,800 SH   SOLE   76,500 0 156,300
PC Connection, Inc. COM 69318J100 9 232 SH   SOLE   7,332 0 0
PPL Corp. COM 69351T106 13,432 423,196 SH   SOLE   113,996 0 309,200
Park National Corp OH COM 700658107 4 40 SH   SOLE   2,840 0 0
Park-Ohio Holdings Co COM 700666100 6 197 SH   SOLE   3,897 0 0
Parsley Energy Inc. COM 701877102 535 27,700 SH   SOLE   21,600 0 6,100
Party City Holdco Inc. COM 702150103 1 84 SH   SOLE   84 0 0
Penske Automotive Group, Inc. COM 70959W103 1,880 42,100 SH   SOLE   17,700 0 24,400
Peoples Bancorp OH COM 709789101 2 59 SH   SOLE   59 0 0
Phibro Animal Health Corp CL A COM 71742Q106 1 19 SH   SOLE   19 0 0
Phillips 66 COM 718546104 7,595 79,800 SH   SOLE   24,700 0 55,100
Pilgrims Pride Corp COM 72147K108 223 10,000 SH   SOLE   5,400 0 4,600
Principal Financial Group, Inc. COM 74251V102 9,427 187,817 SH   SOLE   54,117 0 133,700
Provident Financial Services COM 74386T105 1 37 SH   SOLE   37 0 0
Prudential Financial Inc COM 744320102 2,361 25,700 SH   SOLE   10,400 0 15,300
Psychemedics Corporation COM 744375205 1 84 SH   SOLE   84 0 0
Quest Diagnostics Inc. COM 74834L100 171 1,900 SH   SOLE   1,900 0 0
RBB Bancorp COM 74930B105 2 130 SH   SOLE   130 0 0
RMR Group COM 74967R106 2 38 SH   SOLE   4,138 0 0
Ready Capital COM 86933G105 3 217 SH   SOLE   7,917 0 0
Reinsurance Group of America, Inc COM 759351604 3,947 27,800 SH   SOLE   12,600 0 15,200
Republic Bancorp KY COM 760281204 9 197 SH   SOLE   6,497 0 0
ResMed Inc. COM 761152107 7,569 72,800 SH   SOLE   20,300 0 52,500
Robert Half International Inc. COM 770323103 9,833 150,900 SH   SOLE   41,700 0 109,200
Ryerson Holding Corporation COM 783754104 4 443 SH   SOLE   443 0 0
S&T Bancorp Inc. COM 783859101 4 109 SH   SOLE   4,309 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 15,476 732,400 SH   SOLE   243,900 0 488,500
ScanSource, Inc. COM 806037107 4 121 SH   SOLE   7,121 0 0
Sonic Automotive, Inc. COM 83545G102 4 253 SH   SOLE   18,653 0 0
Southern Copper Corp. COM 84265V105 11,987 302,100 SH   SOLE   88,600 0 213,500
Southern MO Bancorp COM 843380106 2 54 SH   SOLE   54 0 0
Steel Dynamics Inc. COM 858119100 1,213 34,400 SH   SOLE   12,800 0 21,600
Steelcase Inc cl A COM 858155203 3 183 SH   SOLE   183 0 0
Sterling Bancorp Inc COM 85917W102 4 395 SH   SOLE   13,595 0 0
Summit Hotel Properties, Inc. COM 866082100 5 407 SH   SOLE   23,407 0 0
Sun Trust Banks Inc COM 867914103 1,333 22,500 SH   SOLE   8,700 0 13,800
Synchrony Financial COM 87165B103 6,004 188,200 SH   SOLE   36,900 0 151,300
TEGNA Inc. COM 87901J105 5 373 SH   SOLE   373 0 0
TESSCO Technologies, Inc. COM 872386107 1 64 SH   SOLE   64 0 0
The Gap, Inc. COM 364760108 432 16,500 SH   SOLE   6,600 0 9,900
The Michaels Companies, Inc. COM 59408Q106 565 49,500 SH   SOLE   18,400 0 31,100
The New Home Company Inc. COM 645370107 1 253 SH   SOLE   253 0 0
Torchmark Corp COM 891027104 1,532 18,700 SH   SOLE   7,300 0 11,400
Toro Company COM 891092108 1,246 18,100 SH   SOLE   6,800 0 11,300
Trecora Resources COM 894648104 1 160 SH   SOLE   160 0 0
Triton International Ltd COM G9078F107 4 128 SH   SOLE   8,528 0 0
Tyson Foods COM 902494103 16,865 242,900 SH   SOLE   72,400 0 170,500
UGI Corp COM 902681105 765 13,800 SH   SOLE   4,900 0 8,900
Ubiquiti Networks, Inc. COM 90347A100 973 6,500 SH   SOLE   2,600 0 3,900
United States Lime & Minerals COM 911922102 2 30 SH   SOLE   30 0 0
United Therapeutics Corp. COM 91307C102 8,333 71,000 SH   SOLE   22,000 0 49,000
Unity Bancorp Inc COM 091329010 2 92 SH   SOLE   92 0 0
Universal Insurance Hldgs COM 91359V107 3 83 SH   SOLE   83 0 0
Universal Logistics Holdings, COM 91388P105 3 170 SH   SOLE   170 0 0
Urstadt Biddle Prop cl A COM 917286205 1 67 SH   SOLE   67 0 0
Utah Medical Products Inc. COM 917488108 4 40 SH   SOLE   1,640 0 0
VSE Corporation COM 918284100 3 102 SH   SOLE   102 0 0
Valero Energy Corporation COM 91913Y100 3,987 47,000 SH   SOLE   16,300 0 30,700
Vectrus, Inc. COM 92242T101 2 68 SH   SOLE   68 0 0
VeriSign Inc COM 92343E102 5,029 27,700 SH   SOLE   8,300 0 19,400
Verizon Communications, Inc. COM 92343V104 17,148 290,000 SH   SOLE   79,700 0 210,300
Versum Materials, Inc. COM 92532W103 322 6,400 SH   SOLE   2,600 0 3,800
Viacom Inc cl B COM 92553P201 12,407 442,000 SH   SOLE   155,800 0 286,200
Village Super Market COM 927107409 3 125 SH   SOLE   125 0 0
W&T Offshore Inc. COM 92922P106 2 288 SH   SOLE   288 0 0
W.P. Carey Inc. REIT COM 92936U109 9,768 124,700 SH   SOLE   23,500 0 101,200
WEC Energy Group COM 92939U106 1,740 22,000 SH   SOLE   9,200 0 12,800
Walker & Dunlop, Inc. COM 93148P102 3 55 SH   SOLE   955 0 0
Walmart Inc. COM 931142103 8,036 82,400 SH   SOLE   15,600 0 66,800
Warrior Met Coal, Llc COM 93627C101 5 164 SH   SOLE   9,164 0 0
Waterstone Financial, Inc (MD) COM 94188P101 2 118 SH   SOLE   118 0 0
Watsco Inc. COM 942622200 372 2,600 SH   SOLE   700 0 1,900
Wells Fargo & Company COM 949746101 22,503 465,700 SH   SOLE   133,800 0 331,900
West Bancorporation COM 95123P106 3 137 SH   SOLE   137 0 0
Weyco Group Inc. COM 962149100 4 131 SH   SOLE   131 0 0
Williams-Sonoma Inc. COM 969904101 388 6,900 SH   SOLE   2,400 0 4,500
Willis Lease Finance COM 970646105 4 102 SH   SOLE   102 0 0
Winmark Corporation COM 974250102 9 49 SH   SOLE   1,149 0 0
Worthington Industries COM 981811102 1 27 SH   SOLE   3,727 0 0