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Institutional Investment Manager
Ativo Capital Management LLC
Ativo Capital Management LLC (CIK: 0001423065) incorporated in Delaware, located at 120 N Lasalle Street, Chicago, IL. Institutional holdings reported to the SEC.

Institutional Holdings (2016Q2)
Portfolio Summary: 208 holdings with a total value of $410,127,000.
#
Name
Shares
Value ($)
%
Options
Notes
151 EPLUS INC COM 10,703 875,000 0.21%
152 Nautilus Inc 49,014 874,000 0.21%
153 ACCESS NATL CORP COM 44,808 874,000 0.21%
154 PETMED EXPRESS INC 46,460 872,000 0.21%
155 PDL BIOPHARMA INC 274,065 861,000 0.21%
156 Net 1 UEPS Technologies Inc. 86,102 860,000 0.21%
157 GRAY TELEVISION INC COM 79,186 859,000 0.21%
158 INFOSYS LTD 48,116 859,000 0.21%
159 ARROW FINL CORP 28,307 857,000 0.21%
160 Trico Bancshs Chico 31,021 856,000 0.21%
161 Landmark Bancorp Inc 33,664 853,000 0.21%
162 Enterprise Finl Svcs Corp 30,509 851,000 0.21%
163 NEENAH INC COM 11,619 841,000 0.21%
164 LAKELAND FINL CORP 17,888 841,000 0.21%
165 BANK MARIN BANCORP 17,129 829,000 0.20%
166 West Bancorporation Inc Cap St 44,322 824,000 0.20%
167 BRYN MAWR BK CORP 28,022 818,000 0.20%
168 Mesa Laboratories Inc 6,640 817,000 0.20%
169 RPX CORPORATION 89,018 816,000 0.20%
170 Nova Measuring Instruments Ltd 74,336 813,000 0.20%
171 Diamond Hill Investment Group 4,314 813,000 0.20%
172 GOLUB CAPITAL BDC 44,958 812,000 0.20%
173 HINGHAM INSTN SVGS MASS 6,556 806,000 0.20%
174 FINANCIAL INSTNS INC 30,835 804,000 0.20%
175 NEW YORK MORTGAGE TRUST INC COM 131,133 800,000 0.20%
176 Fly Leasing Ltd Sp ADR 79,818 793,000 0.19%
177 HCI GROUP INC 29,027 792,000 0.19%
178 BIOSPECIFICS TECHNOLOGIES CO 19,592 782,000 0.19%
179 HDFC Bank Ltd ADR Reps 3 11,692 776,000 0.19%
180 Xinyuan Real Estate Co Ltd Sp 158,240 775,000 0.19%
181 KFORCE INC COM 45,225 764,000 0.19%
182 MULTI COLOR CORP COM 12,048 764,000 0.19%
183 CHESAPEAKE UTILS CORP 11,393 754,000 0.18%
184 WESTWOOD HOLDINGS CORP 14,547 754,000 0.18%
185 Sequential Brnds Group Inc 93,417 745,000 0.18%
186 WSFS FINL CORPORATION 23,006 741,000 0.18%
187 CENTURY CMNTYS INC COM 42,611 739,000 0.18%
188 BANCO DE CHILE 11,445 734,000 0.18%
189 Federated Natl Holding Co 38,434 732,000 0.18%
190 Orchids Paper Products Company 20,505 729,000 0.18%
191 Penns Woods Bancorp Inc 17,085 717,000 0.17%
192 CITY HLDG CO COM 15,667 712,000 0.17%
193 SPAN AMER MED SYS INC 39,801 712,000 0.17%
194 LIONBRIDGE TECHNOLOGIES ORD 179,550 709,000 0.17%
195 G P STRATEGIES CORP 32,485 705,000 0.17%
196 SUPERIOR UNIFORM GP INC COM 36,317 693,000 0.17%
197 P T TELEKOMUNIKASI INDONESIA 11,216 689,000 0.17%
198 WAYSIDE TECHNOLOGY GROUP INC 38,143 689,000 0.17%
199 TRANSCAT INC COM 68,285 686,000 0.17%
200 GREAT SOUTHN BANCORP INC 17,805 658,000 0.16%
Page 4 of 5

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001423065-16-000022, filed 2016.08.12).

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.