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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 (2016Q1)
Portfolio Summary: 283 holdings with a total value of $457,263,000.
#
Name
Shares
Value ($)
%
Options
Notes
201 OIL-DRI CORP OF AMERICA WITH STOCK SPLIT SHARES 54 2,000 0.00%
202 SAGA COMMUNICATIONS INC CL A NEW 52 2,000 0.00%
203 VECTRUS INC 88 2,000 0.00%
204 TRANS WORLD ENTMT CORP 500 2,000 0.00%
205 WAYSIDE TECHNOLOGY GROUP INC 100 2,000 0.00%
206 IRIDIUM COMMUNICATIONS INC 208 2,000 0.00%
207 DONEGAL GROUP INC 135 2,000 0.00%
208 ELECTRO RENT CORP 261 2,000 0.00%
209 MidWestOne Finl Group Inc NE 72 2,000 0.00%
210 Handy & Harman Ltd 84 2,000 0.00%
211 DYNEX CAP INC 239 2,000 0.00%
212 HALLADOR ENERGY COMPANY 331 2,000 0.00%
213 UNIVERSAL CORP VA 28 2,000 0.00%
214 ADAMS RES & ENERGY INC 61 2,000 0.00%
215 Premier Financial Bancorp Inc 150 2,000 0.00%
216 MERITOR INC 246 2,000 0.00%
217 SELECT MED HLDGS CORP COM 207 2,000 0.00%
218 CHEMTURA CORP 60 2,000 0.00%
219 STRATTEC SEC CORP 40 2,000 0.00%
220 OMEGA FLEX INC 55 2,000 0.00%
221 VSE CORP 26 2,000 0.00%
222 FIRST CMNTY BANKSHARES INC V 119 2,000 0.00%
223 MUTUALFIRST FINL INC 86 2,000 0.00%
224 MOVADO GROUP INC 55 2,000 0.00%
225 CNB FINANCIAL CORP (PA) COM 100 2,000 0.00%
226 INTERVAL LEISURE GROUP INC 156 2,000 0.00%
227 CROWN MEDIA HLDGS INC 400 2,000 0.00%
228 PEOPLES BANCORP N C INC 100 2,000 0.00%
229 BLUE CAP REINS HLDGS LTD COM 128 2,000 0.00%
230 BALDWIN AND LYONS INC CL B 100 2,000 0.00%
231 NATIONAL WESTN LIFE GROUP IN 10 2,000 0.00%
232 UTAH MED PRODS INC 39 2,000 0.00%
233 NATIONAL BANKSHARES INC VA 54 2,000 0.00%
234 Winmark Corp 22 2,000 0.00%
235 Altisource Portfolio Solutions 77 2,000 0.00%
236 AMERICAN AXLE & MFG HLDGS INC COM 122 2,000 0.00%
237 SONIC AUTOMOTIVE INC CL A 129 2,000 0.00%
238 NAVIGATORS GROUP INC 22 2,000 0.00%
239 Newstar Finl Inc Com 220 2,000 0.00%
240 PREFORMED LINE PRODS CO 53 2,000 0.00%
241 FIDELITY AND GTY LIFE COM 58 2,000 0.00%
242 WEYCO GROUP INC 63 2,000 0.00%
243 LAKE SUNAPEE BK GROUP 156 2,000 0.00%
244 First Busey Corp 120 2,000 0.00%
245 ANIXTER INTL INC 47 2,000 0.00%
246 New Home Company Inc (The) 190 2,000 0.00%
247 CSS INDS INC 62 2,000 0.00%
248 NATURES SUNSHINE PRODS INC 242 2,000 0.00%
249 FBR AND CO COM NEW 100 2,000 0.00%
250 NATIONAL GEN HLDGS CORP COM 100 2,000 0.00%
Page 5 of 6

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001142941-16-000019, filed 2016.04.11).

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.