DENALI ADVISORS LLC Q4 2021 Filing

Filed January 21, 2022

Portfolio Value

$267.1M

Holdings

381

Report Date

Q4 2021

Filing Type

13F-HR

All Holdings (381 positions)

#	Stock	Shares	Value	% Portfolio
1	IMKTAIngles Markets cl A	55,255	$4.8M	1.79%
2	MHOM/I Homes, Inc.	75,566	$4.7M	1.76%
3	GHCGraham Holdings Company	7,411	$4.7M	1.75%
4	SANMSanmina Corporation	111,935	$4.6M	1.74%
5	RUSHARush Enterprises Inc	83,227	$4.6M	1.73%
6	HTHHilltop Holdings Inc.	124,709	$4.4M	1.64%
7	BCCBoise Cascade LLC	61,321	$4.4M	1.63%
8	EAFEURGraftech International Ltd	365,837	$4.3M	1.62%
9	KWKennedy-Wilson Holdings	180,900	$4.3M	1.62%
10	INVAInnoviva, Inc.	249,122	$4.3M	1.61%
11	BB4AXOS Financial Inc	76,800	$4.3M	1.61%
12	NTBBank of NT Butterfield LTD	112,684	$4.3M	1.61%
13	TOWNTowne Bank	134,768	$4.3M	1.59%
14	GEFGreif Inc cl A	69,294	$4.2M	1.57%
15	EIGEmployers Holdings, Inc.	98,400	$4.1M	1.52%
16	NIJNelnet Inc	41,416	$4.0M	1.51%
17	IBOCInternational Bancshares	95,176	$4.0M	1.51%
18	ESGREnstar Group Limited	16,200	$4.0M	1.50%
19	CUBICustomers Bancorp Inc	61,200	$4.0M	1.50%
20	PDMPiedmont Office Realty Trust,	214,598	$3.9M	1.48%
21	MLIMueller Industries, Inc.	66,400	$3.9M	1.48%
22	ACCOAcco Brands Corporation	473,647	$3.9M	1.46%
23	NMRKNewmark Group	207,563	$3.9M	1.45%
24	GTNGray Television Inc	190,172	$3.8M	1.44%
25	CMRECostamare Inc	280,892	$3.6M	1.33%
26	PFSIPennyMac Financial Service Inc	49,810	$3.5M	1.30%
27	SEMSelect Medical Holdings Corp	118,200	$3.5M	1.30%
28	FIBKFirst Interstate BancSystem A	82,500	$3.4M	1.26%
29	SNEXStonex Group	53,300	$3.3M	1.22%
30	FFBCFirst Financial Bancorp OH	129,600	$3.2M	1.18%
31	PQ3Provident Financial Services	129,800	$3.1M	1.18%
32	KROKronos Worldwide Inc.	205,819	$3.1M	1.16%
33	PRDOPerdoceo Education Corp	257,300	$3.0M	1.13%
34	PCCPC Connection, Inc.	68,411	$3.0M	1.10%
35	VSHVishay Intertechnology Inc.	133,600	$2.9M	1.09%
36	ADUnited States Cellular Corp	91,904	$2.9M	1.08%
37	MEIMethode Electronics Inc	57,625	$2.8M	1.06%
38	BXCBluelinx Holdings	28,423	$2.7M	1.02%
39	ENVAEnova International, Inc.	65,625	$2.7M	1.01%
40	HOPEHope Bancorp	182,100	$2.7M	1.00%
41	SFNCSimmons First National Corp	90,500	$2.7M	1.00%
42	EGBNEagle Bancorp Inc	45,600	$2.7M	1.00%
43	HCCWarrior Met Coal, Llc	100,600	$2.6M	0.97%
44	CATYCathay General Bancorp	59,031	$2.5M	0.95%
45	PATKPatrick Industries Inc.	29,900	$2.4M	0.90%
46	TRTN-PATriton International Ltd	38,644	$2.3M	0.87%
47	—American National Insur.	12,005	$2.3M	0.85%
48	MMIMarcus & Millichap, Inc.	41,800	$2.2M	0.81%
49	USNAUSANA Health Sciences, Inc.	21,013	$2.1M	0.80%
50	WKCWorld Fuel Services Corp	78,929	$2.1M	0.78%
51	AGMFarmer Mac	16,400	$2.0M	0.76%
52	SMPStandard Motor Products	38,200	$2.0M	0.75%
53	NWLINational Western Life Group A	8,700	$1.9M	0.70%
54	WIREEUREncore Wire Corporation	12,913	$1.8M	0.69%
55	BANFBancFirst Corp OK	25,500	$1.8M	0.67%
56	OECOrion Engineered Carbons	97,096	$1.8M	0.67%
57	WMKWeis Markets Inc.	26,900	$1.8M	0.66%
58	WTHWorthington Industries	32,200	$1.8M	0.66%
59	TNETTrinet Group Inc	18,039	$1.7M	0.64%
60	—GAMCO Investors, Inc.	60,942	$1.5M	0.57%
61	JOUTJohnson Outdoors Inc.	15,200	$1.4M	0.53%
62	FORForestar Group	63,890	$1.4M	0.52%
63	OTTROtter Tail Corp	18,900	$1.4M	0.51%
64	TDSTelephone & Data Systems	66,000	$1.3M	0.50%
65	IRWDIronwood Pharmaceuticals	113,600	$1.3M	0.50%
66	ASIXAdvansix Inc	27,316	$1.3M	0.48%
67	RBCAARepublic Bancorp KY	25,300	$1.3M	0.48%
68	BRK/BBerkshire Hathaway cl B	4,200	$1.3M	0.47%
69	MBINMerchants Bancorp	25,829	$1.2M	0.46%
70	MATXMatson Inc.	13,138	$1.2M	0.44%
71	CRMTAmerica's Car-Mart Inc	11,200	$1.1M	0.43%
72	CIMChimera Investment Corporation	75,700	$1.1M	0.43%
73	AELUSDAmerican Equity Investment	27,100	$1.1M	0.39%
74	JPMJPMorgan Chase & Co.	6,300	$998K	0.37%
75	ECPGEncore Capital Group, Inc.	15,500	$963K	0.36%
76	STCStewart Information Services	11,800	$941K	0.35%
77	LPGDorian LPG Ltd.	72,900	$925K	0.35%
78	ASOAcademy Sports and Outdoors	21,000	$922K	0.35%
79	SKYWSkyWest Inc.	22,200	$872K	0.33%
80	GOOGLAlphabet Inc. Class A	300	$869K	0.33%
81	CENTACentral Garden&Pet cl A	18,100	$866K	0.32%
82	INTCIntel Corporation	16,700	$860K	0.32%
83	HTLFEURHeartland Financial USA	16,933	$857K	0.32%
84	KOPKoppers Holdings Inc.	27,200	$851K	0.32%
85	BACBank of America Corp	18,700	$832K	0.31%
86	ACGLArch Capital Group Ltd.	18,500	$822K	0.31%
87	LYBLyondellBasell Industries cl A	8,800	$812K	0.30%
88	TSNTyson Foods	9,300	$811K	0.30%
89	BACVerizon Communications, Inc.	15,500	$805K	0.30%
90	7HPHP Inc.	21,100	$795K	0.30%
91	CECelanese Corporation	4,700	$790K	0.30%
92	ARIApollo Commercial Real Estate	59,700	$786K	0.29%
93	GICGlobal Industrial Co.	18,800	$769K	0.29%
94	CBRECBRE Group, Inc.	6,900	$749K	0.28%
95	WMTWalmart Inc.	5,100	$738K	0.28%
96	PRIMPrimoris Services Corp.	30,600	$734K	0.27%
97	GDGeneral Dynamics Corp.	3,500	$730K	0.27%
98	SCCOSouthern Copper Corp.	11,800	$728K	0.27%
99	SOSouthern Company	10,600	$727K	0.27%
100	HCAHCA Holdings, Inc.	2,800	$719K	0.27%

Page 1 of 4Next