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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 (2017Q1)
Portfolio Summary: 223 holdings with a total value of $402,703,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 Avid Technology Inc 211,355 985,000 0.24%
52 UNIVEST FINANCIAL CORPORATIO 38,113 987,000 0.25%
53 Crown Crafts Inc 120,628 992,000 0.25%
54 ARI Network Services Inc 191,042 993,000 0.25%
55 TRANSCAT INC COM 78,685 999,000 0.25%
56 State Natl Cos Inc 70,018 1,008,000 0.25%
57 CPI Card Group Inc 240,067 1,008,000 0.25%
58 Perficient Inc 58,116 1,009,000 0.25%
59 QUANEX BLDG PRODS CORP COM 50,011 1,013,000 0.25%
60 SUPREME INDS INC 50,010 1,013,000 0.25%
61 SPAN AMER MED SYS INC 48,201 1,016,000 0.25%
62 FINANCIAL INSTNS INC 30,835 1,016,000 0.25%
63 West Bancorporation Inc Cap St 44,322 1,017,000 0.25%
64 STOCK YDS BANCORP INC 25,057 1,019,000 0.25%
65 KFORCE INC COM 43,108 1,024,000 0.25%
66 UTAH MED PRODS INC 16,525 1,030,000 0.26%
67 WASHINGTON TR BANCORP COM 20,905 1,031,000 0.26%
68 UNITIL CORPORATION 23,004 1,036,000 0.26%
69 Fly Leasing Ltd Sp ADR 79,818 1,047,000 0.26%
70 Landmark Bancorp Inc 35,346 1,048,000 0.26%
71 Omega Protein Corp 52,914 1,061,000 0.26%
72 RPX CORPORATION 89,018 1,068,000 0.27%
73 BIOSPECIFICS TECHNOLOGIES CO 19,592 1,074,000 0.27%
74 FONAR CORP 61,186 1,074,000 0.27%
75 ONE LIBERTY PPTYS INC COM 46,011 1,075,000 0.27%
76 Nautilus Inc 59,014 1,077,000 0.27%
77 ALMOST FAMILY INC COM 22,306 1,084,000 0.27%
78 Mainsource Financial Group 33,011 1,087,000 0.27%
79 OMEGA FLEX INC 22,740 1,087,000 0.27%
80 NCI Inc Cl A 72,334 1,089,000 0.27%
81 Nv5 Global Inc 29,026 1,091,000 0.27%
82 Trico Bancshs Chico 31,022 1,102,000 0.27%
83 BANK MARIN BANCORP 17,129 1,102,000 0.27%
84 Enterprise Finl Svcs Corp 26,007 1,103,000 0.27%
85 BRYN MAWR BK CORP 28,023 1,107,000 0.27%
86 INSTEEL INDUSTRIES 31,008 1,121,000 0.28%
87 TATA MTRS LTD 31,552 1,125,000 0.28%
88 U.S. Physical Therapy Inc 17,253 1,127,000 0.28%
89 Armada Hoffler Properties Inc 81,374 1,130,000 0.28%
90 Reata Pharmaceuticals Inc Cl A 50,012 1,133,000 0.28%
91 Great Ajax Corp 86,823 1,133,000 0.28%
92 Pzena Investment Mgmt Inc Clas 115,591 1,137,000 0.28%
93 GRAY TELEVISION INC COM 78,998 1,145,000 0.28%
94 SCRIPPS NETWORKS INTERACT IN 14,722 1,154,000 0.29%
95 Ies Holdings Inc 64,017 1,159,000 0.29%
96 HINGHAM INSTN SVGS MASS 6,556 1,159,000 0.29%
97 Douglas Dynamics Inc 38,610 1,183,000 0.29%
98 UNITY BANCORP INC 70,054 1,187,000 0.29%
99 SUCAMPO PHARMACEUTICALS INCORPORATED CLASS A 109,023 1,199,000 0.30%
100 SciClone Pharmaceuticals Inc 123,428 1,210,000 0.30%
Page 2 of 5

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001423065-17-000003, filed 2017.05.12).

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.