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Institutional Investment Manager
DENALI ADVISORS LLC
DENALI ADVISORS LLC (CIK: 0001142941) incorporated in Delaware, located at 5075 Shoreham Place, San Diego, CA. Institutional holdings reported to the SEC.

Institutional Holdings (2015Q4)
Portfolio Summary: 282 holdings with a total value of $447,179,000.
#
Name
Shares
Value ($)
%
Options
Notes
201 INDEPENDENCE HLDG CO NEW 160 2,000 0.00%
202 Premier Financial Bancorp Inc 150 2,000 0.00%
203 SELECT MED HLDGS CORP COM 207 2,000 0.00%
204 ACCO BRANDS CORPORATION COM 300 2,000 0.00%
205 EVERBANK FINL CORP COM 100 2,000 0.00%
206 ARROW FINL CORP 80 2,000 0.00%
207 PHI NON VTNG 109 2,000 0.00%
208 ENSTAR GROUP LIMITED COM 10 2,000 0.00%
209 FIRST LONG IS CORP 79 2,000 0.00%
210 MUTUALFIRST FINL INC 86 2,000 0.00%
211 National Interstate Corp 83 2,000 0.00%
212 SENECA FOODS CORP NEW CL A 65 2,000 0.00%
213 CROWN MEDIA HLDGS INC 400 2,000 0.00%
214 ENTERCOM COMMUNICATIONS CORP 200 2,000 0.00%
215 BALDWIN AND LYONS INC CL B 100 2,000 0.00%
216 BAR HBR BANKSHARES 45 2,000 0.00%
217 CITIZENS NORTHN CORP 100 2,000 0.00%
218 OM ASSET MGMT PLC SHS 100 2,000 0.00%
219 FBL FINL GROUP INC 34 2,000 0.00%
220 TRANS WORLD ENTMT CORP 500 2,000 0.00%
221 DYNEX CAP INC 239 2,000 0.00%
222 UNIVERSAL CORP VA 28 2,000 0.00%
223 ZAIS FINL CORP 100 2,000 0.00%
224 UTAH MED PRODS INC 39 2,000 0.00%
225 GLOBAL SOURCES LTD 313 2,000 0.00%
226 NATIONAL BANKSHARES INC VA 54 2,000 0.00%
227 FABRINET SHS 100 2,000 0.00%
228 AMERICAN AXLE & MFG HLDGS INC COM 122 2,000 0.00%
229 OMEGA FLEX INC 55 2,000 0.00%
230 AWARE INC MASS 651 2,000 0.00%
231 AUTOBYTEL INC COM NEW 100 2,000 0.00%
232 CHASE CORP COM 57 2,000 0.00%
233 VSE CORP 26 2,000 0.00%
234 FIRST CMNTY BANKSHARES INC V 119 2,000 0.00%
235 CNB FINANCIAL CORP (PA) COM 100 2,000 0.00%
236 NAVIGATORS GROUP INC 22 2,000 0.00%
237 1st Source Corp 79 2,000 0.00%
238 ONEBEACON INSURANCE 187 2,000 0.00%
239 WEYCO GROUP INC 63 2,000 0.00%
240 Altisource Portfolio Solutions 77 2,000 0.00%
241 Hallador Energy Company 331 2,000 0.00%
242 PREFORMED LINE PRODS CO 53 2,000 0.00%
243 HINGHAM INSTN SVGS MASS 18 2,000 0.00%
244 HILLTOP HOLDINGS INC 100 2,000 0.00%
245 CSS INDS INC 62 2,000 0.00%
246 SPAN AMER MED SYS INC 100 2,000 0.00%
247 NATIONAL GEN HLDGS CORP COM 100 2,000 0.00%
248 FBR AND CO COM NEW 100 2,000 0.00%
249 AMCON DISTRG CO 25 2,000 0.00%
250 AVX CORP NEW 196 2,000 0.00%
Page 5 of 6

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001142941-16-000016, filed 2016.01.07).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.