DENALI ADVISORS LLC Q1 2022 Filing

Filed April 19, 2022

Portfolio Value

$259.0M

Holdings

379

Report Date

Q1 2022

Filing Type

13F-HR

All Holdings (379 positions)

#	Stock	Shares	Value	% Portfolio
1	CMRECostamare Inc	292,638	$5.0M	1.93%
2	IMKTAIngles Markets cl A	55,255	$4.9M	1.90%
3	GEFGreif Inc cl A	74,607	$4.9M	1.87%
4	KWKennedy-Wilson Holdings	192,100	$4.7M	1.81%
5	GHCGraham Holdings Company	7,410	$4.5M	1.75%
6	SANMSanmina Corporation	111,950	$4.5M	1.75%
7	SNEXStonex Group	60,300	$4.5M	1.73%
8	INVAInnoviva, Inc.	228,322	$4.4M	1.71%
9	MLIMueller Industries, Inc.	80,500	$4.4M	1.68%
10	EIGEmployers Holdings, Inc.	105,200	$4.3M	1.67%
11	ESGREnstar Group Limited	16,400	$4.3M	1.65%
12	RUSHARush Enterprises Inc	83,244	$4.2M	1.64%
13	TOWNTowne Bank	140,368	$4.2M	1.62%
14	IBOCInternational Bancshares	99,400	$4.2M	1.62%
15	NTBBank of NT Butterfield LTD	116,384	$4.2M	1.61%
16	HTHHilltop Holdings Inc.	141,709	$4.2M	1.61%
17	GTNGray Television Inc	188,572	$4.2M	1.61%
18	PCCPC Connection, Inc.	79,400	$4.2M	1.61%
19	HOPEHope Bancorp	246,600	$4.0M	1.53%
20	MHOM/I Homes, Inc.	88,966	$3.9M	1.52%
21	PQ3Provident Financial Services	167,200	$3.9M	1.51%
22	WTHWorthington Industries	75,500	$3.9M	1.50%
23	ACCOAcco Brands Corporation	473,603	$3.8M	1.46%
24	KROKronos Worldwide Inc.	243,719	$3.8M	1.46%
25	BB4AXOS Financial Inc	80,900	$3.8M	1.45%
26	ADUnited States Cellular Corp	122,304	$3.7M	1.43%
27	PDMPiedmont Office Realty Trust,	214,574	$3.7M	1.43%
28	BCCBoise Cascade LLC	51,200	$3.6M	1.37%
29	FFBCFirst Financial Bancorp OH	153,845	$3.5M	1.37%
30	NIJNelnet Inc	41,416	$3.5M	1.36%
31	EAFEURGraftech International Ltd	365,837	$3.5M	1.36%
32	SEMSelect Medical Holdings Corp	146,100	$3.5M	1.35%
33	NMRKNewmark Group	207,563	$3.3M	1.28%
34	WKCWorld Fuel Services Corp	114,829	$3.1M	1.20%
35	BANFBancFirst Corp OK	36,400	$3.0M	1.17%
36	PRDOPerdoceo Education Corp	261,900	$3.0M	1.16%
37	PFSIPennyMac Financial Service Inc	53,010	$2.8M	1.09%
38	GOLFAcushnet Holdings Corp.	68,800	$2.8M	1.07%
39	ENVAEnova International, Inc.	72,553	$2.8M	1.06%
40	VSHVishay Intertechnology Inc.	133,600	$2.6M	1.01%
41	—American National Insur.	12,005	$2.3M	0.88%
42	MMIMarcus & Millichap, Inc.	42,300	$2.2M	0.86%
43	STCStewart Information Services	35,300	$2.1M	0.83%
44	BXCBluelinx Holdings	29,714	$2.1M	0.82%
45	LPGDorian LPG Ltd.	142,843	$2.1M	0.80%
46	EGBNEagle Bancorp Inc	36,200	$2.1M	0.80%
47	IBTXUSDIndependent Bank Grp	27,000	$1.9M	0.74%
48	WMKWeis Markets Inc.	26,900	$1.9M	0.74%
49	AGMFarmer Mac	16,400	$1.8M	0.69%
50	OECOrion Engineered Carbons	111,341	$1.8M	0.69%
51	TNETTrinet Group Inc	18,028	$1.8M	0.68%
52	USNAUSANA Health Sciences, Inc.	21,013	$1.7M	0.64%
53	SMPStandard Motor Products	38,200	$1.6M	0.64%
54	BRK/BBerkshire Hathaway cl B	4,450	$1.6M	0.61%
55	IRWDIronwood Pharmaceuticals	113,600	$1.4M	0.55%
56	WIREEUREncore Wire Corporation	12,406	$1.4M	0.55%
57	AMCXAMC Networks Inc. cl A	34,751	$1.4M	0.55%
58	NWLINational Western Life Group A	6,705	$1.4M	0.54%
59	MBINMerchants Bancorp	51,043	$1.4M	0.54%
60	—GAMCO Investors, Inc.	61,542	$1.4M	0.53%
61	FORForestar Group	76,096	$1.4M	0.52%
62	HTLFEURHeartland Financial USA	27,833	$1.3M	0.51%
63	AUBAtlantic Union Bacncshares	34,700	$1.3M	0.49%
64	ASOAcademy Sports and Outdoors	32,200	$1.3M	0.49%
65	RBCAARepublic Bancorp KY	25,300	$1.1M	0.44%
66	AELUSDAmerican Equity Investment	27,100	$1.1M	0.42%
67	CEIXEURConsol Energy Inc	28,217	$1.1M	0.41%
68	NBTBNBT Bancorp Inc.	29,100	$1.1M	0.41%
69	GOOGLAlphabet Inc. Class A	370	$1.0M	0.40%
70	ARIApollo Commercial Real Estate	71,700	$999K	0.39%
71	ZM3Zumiez Inc.	25,400	$971K	0.37%
72	JPMJPMorgan Chase & Co.	7,100	$968K	0.37%
73	TRTN-PATriton International Ltd	12,836	$901K	0.35%
74	RYIRyerson Holding Corporation	25,700	$900K	0.35%
75	MRTNMarten Transport, Ltd.	48,800	$867K	0.33%
76	INTCIntel Corporation	17,200	$852K	0.33%
77	SAFTSafety Insurance Group Inc.	9,200	$836K	0.32%
78	LYBLyondellBasell Industries cl A	8,100	$833K	0.32%
79	BACBank of America Corp	20,000	$824K	0.32%
80	WMTWalmart Inc.	5,400	$804K	0.31%
81	OPYOppenheimer Holdings	18,400	$802K	0.31%
82	ACGLArch Capital Group Ltd.	16,500	$799K	0.31%
83	BACVerizon Communications, Inc.	15,600	$795K	0.31%
84	SCCOSouthern Copper Corp.	10,200	$774K	0.30%
85	ORCLOracle Corporation	9,300	$769K	0.30%
86	KOPKoppers Holdings Inc.	27,200	$749K	0.29%
87	TSNTyson Foods	8,300	$744K	0.29%
88	CENTACentral Garden&Pet cl A	18,100	$738K	0.28%
89	PRIMPrimoris Services Corp.	30,600	$729K	0.28%
90	PLUSePlus Inc.	12,800	$718K	0.28%
91	SOSouthern Company	9,900	$718K	0.28%
92	CINFCincinnati Financial Corp	5,200	$707K	0.27%
93	GDGeneral Dynamics Corp.	2,900	$699K	0.27%
94	CECelanese Corporation	4,800	$686K	0.26%
95	NOCNorthrop Grumman Corp	1,500	$671K	0.26%
96	DELLDell Inc.	13,300	$668K	0.26%
97	NHCNational HealthCare Corp	9,509	$668K	0.26%
98	METMetLife, Inc.	9,100	$640K	0.25%
99	PGRProgressive Corp.	5,600	$638K	0.25%
100	GNWGenworth Financial Inc	167,500	$633K	0.24%

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