Cambria Investment Management 13FHR Quarterly holdings report by institutional manager | SEC 13 Feb 23

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
DXC TECHNOLOGY CO	COM	23355L106	5,154,303	194,502	SH		SOLE		194,502	0	0
CAL MAINE FOODS INC	COM NEW	128030202	928,699	17,056	SH		SOLE		17,056	0	0
CRANE HLDGS CO	COM	224441105	5,817,260	57,912	SH		SOLE		57,912	0	0
COTERRA ENERGY INC	COM	127097103	1,177,960	47,943	SH		SOLE		47,943	0	0
AFLAC INC	COM	001055102	8,109,652	112,728	SH		SOLE		112,728	0	0
EMPLOYERS HLDGS INC	COM	292218104	1,215,533	28,183	SH		SOLE		28,183	0	0
APPLE HOSPITALITY REIT INC	COM NEW	03784Y200	291,141	18,450	SH		SOLE		18,450	0	0
DOW INC	COM	260557103	6,460,250	128,205	SH		SOLE		128,205	0	0
CANADIAN NAT RES LTD	COM	136385101	1,032,891	18,600	SH		SOLE		18,600	0	0
ABERCROMBIE & FITCH CO	CL A	002896207	5,395,557	235,511	SH		SOLE		235,511	0	0
ARROW ELECTRS INC	COM	042735100	5,676,582	54,285	SH		SOLE		54,285	0	0
ALTRIA GROUP INC	COM	02209S103	914,200	20,000	SH		SOLE		20,000	0	0
SNDL INC	COM	83307B101	245,533	117,480	SH		SOLE		117,480	0	0
CATHAY GEN BANCORP	COM	149150104	6,934,953	170,016	SH		SOLE		170,016	0	0
AURORA CANNABIS INC	COM	05156X884	189,022	204,880	SH		SOLE		204,880	0	0
ADVANCE AUTO PARTS INC	COM	00751Y106	5,773,868	39,270	SH		SOLE		39,270	0	0
EPR PPTYS	COM SH BEN INT	26884U109	285,163	7,560	SH		SOLE		7,560	0	0
FIRST TR EXCHANGE-TRADED FD	MNGD FUTRS STRGY	33739G103	4,627,624	97,219	SH		SOLE		97,219	0	0
ALEXANDER & BALDWIN INC NEW	COM	014491104	269,712	14,400	SH		SOLE		14,400	0	0
EQUITY RESIDENTIAL	SH BEN INT	29476L107	281,430	4,770	SH		SOLE		4,770	0	0
DICKS SPORTING GOODS INC	COM	253393102	7,057,895	58,674	SH		SOLE		58,674	0	0
BIG 5 SPORTING GOODS CORP	COM	08915P101	3,576,671	405,059	SH		SOLE		405,059	0	0
CORPORATE OFFICE PPTYS TR	SH BEN INT	22002T108	280,152	10,800	SH		SOLE		10,800	0	0
EOG RES INC	COM	26875P101	1,616,410	12,480	SH		SOLE		12,480	0	0
CTO RLTY GROWTH INC NEW	COM	22948Q101	296,136	16,200	SH		SOLE		16,200	0	0
CBDMD INC	COM	12482W101	68,400	301,320	SH		SOLE		301,320	0	0
EA SERIES TRUST	US QUAN MOMENTUM	02072L409	1,912,985	41,650	SH		SOLE		41,650	0	0
DUPONT DE NEMOURS INC	COM	26614N102	6,626,776	96,558	SH		SOLE		96,558	0	0
BRAEMAR HOTELS & RESORTS INC	COM	10482B101	250,422	60,930	SH		SOLE		60,930	0	0
EA SERIES TRUST	INTL QUAN MOMNTM	02072L300	880,040	35,360	SH		SOLE		35,360	0	0
DISCOVER FINL SVCS	COM	254709108	5,672,281	57,981	SH		SOLE		57,981	0	0
SUNCOR ENERGY INC NEW	COM	867224107	1,180,015	37,200	SH		SOLE		37,200	0	0
ENCORE WIRE CORP	COM	292562105	1,173,112	8,528	SH		SOLE		8,528	0	0
AMERICAN INTL GROUP INC	COM NEW	026874784	1,229,892	19,448	SH		SOLE		19,448	0	0
VILLAGE FARMS INTL INC	COM	92707Y108	188,029	140,320	SH		SOLE		140,320	0	0
CRONOS GROUP INC	COM	22717L101	510,235	200,880	SH		SOLE		200,880	0	0
FIRST HORIZON CORPORATION	COM	320517105	1,062,516	43,368	SH		SOLE		43,368	0	0
EMPIRE ST RLTY TR INC	CL A	292104106	292,503	43,398	SH		SOLE		43,398	0	0
ETHAN ALLEN INTERIORS INC	COM	297602104	6,493,613	245,784	SH		SOLE		245,784	0	0
CARETRUST REIT INC	COM	14174T107	269,559	14,508	SH		SOLE		14,508	0	0
ORGANIGRAM HLDGS INC	COM	68620P101	443,412	545,800	SH		SOLE		545,800	0	0
ATKORE INC	COM	047649108	6,523,805	57,519	SH		SOLE		57,519	0	0
CHATHAM LODGING TR	COM	16208T102	289,547	23,598	SH		SOLE		23,598	0	0
ALLY FINL INC	COM	02005N100	4,197,014	171,657	SH		SOLE		171,657	0	0
AGRIFY CORP	COM NEW	00853E206	3,432	10,306	SH		SOLE		10,306	0	0
ALLSTATE CORP	COM	020002101	7,079,134	52,206	SH		SOLE		52,206	0	0
AMN HEALTHCARE SVCS INC	COM	001744101	5,969,524	58,058	SH		SOLE		58,058	0	0
AFC GAMMA INC	COM	00109K105	296,353	18,840	SH		SOLE		18,840	0	0
FOOT LOCKER INC	COM	344849104	6,407,446	169,554	SH		SOLE		169,554	0	0
IMPERIAL OIL LTD	COM NEW	453038408	1,811,920	37,200	SH		SOLE		37,200	0	0
DELEK US HLDGS INC NEW	COM	24665A103	1,198,989	44,407	SH		SOLE		44,407	0	0
EQUITY COMWLTH	COM SH BEN INT	294628102	289,003	11,574	SH		SOLE		11,574	0	0
FEDERATED HERMES INC	CL B	314211103	7,364,322	202,818	SH		SOLE		202,818	0	0
DEVON ENERGY CORP NEW	COM	25179M103	7,118,614	115,731	SH		SOLE		115,731	0	0
VERADIGM INC	COM	01988P108	5,097,625	288,981	SH		SOLE		288,981	0	0
ARMADA HOFFLER PPTYS INC	COM	04208T108	292,284	25,416	SH		SOLE		25,416	0	0
BIG LOTS INC	COM	089302103	4,129,421	280,913	SH		SOLE		280,913	0	0
AMERICAN EQTY INVT LIFE HLD	COM	025676206	1,157,653	25,376	SH		SOLE		25,376	0	0
ANTERO RESOURCES CORP	COM	03674X106	1,273,193	41,084	SH		SOLE		41,084	0	0
CANOPY GROWTH CORP	COM	138035100	162,624	70,400	SH		SOLE		70,400	0	0
EARTHSTONE ENERGY INC	CL A	27032D304	1,138,058	79,976	SH		SOLE		79,976	0	0
CHEVRON CORP NEW	COM	166764100	1,082,684	6,032	SH		SOLE		6,032	0	0
ENCORE CAP GROUP INC	COM	292554102	5,426,329	113,190	SH		SOLE		113,190	0	0
CALERES INC	COM	129500104	5,579,001	250,404	SH		SOLE		250,404	0	0
BERKSHIRE HILLS BANCORP INC	COM	084680107	1,051,045	35,152	SH		SOLE		35,152	0	0
CONSTELLATION BRANDS INC	CL A	21036P108	1,307,070	5,640	SH		SOLE		5,640	0	0
THE VALENS COMPANY INC	COM NEW	91914P603	156,111	232,280	SH		SOLE		232,280	0	0
WEST FRASER TIMBER CO LTD	COM	952845105	671,537	9,300	SH		SOLE		9,300	0	0
BOSTON PROPERTIES INC	COM	101121101	246,937	3,654	SH		SOLE		3,654	0	0
AGREE RLTY CORP	COM	008492100	383,022	5,400	SH		SOLE		5,400	0	0
CVR ENERGY INC	COM	12662P108	10,519,052	335,643	SH		SOLE		335,643	0	0
ATLAS AIR WORLDWIDE HLDGS IN	COM NEW	049164205	1,016,870	10,088	SH		SOLE		10,088	0	0
BRIXMOR PPTY GROUP INC	COM	11120U105	326,448	14,400	SH		SOLE		14,400	0	0
CHESAPEAKE ENERGY CORP	COM	165167735	1,148,294	12,168	SH		SOLE		12,168	0	0
CIVITAS RESOURCES INC	COM NEW	17888H103	1,060,351	18,304	SH		SOLE		18,304	0	0
CONSOL ENERGY INC NEW	COM	20854L108	1,284,400	19,760	SH		SOLE		19,760	0	0
AVNET INC	COM	053807103	1,448,647	34,840	SH		SOLE		34,840	0	0
THE NECESSITY RETAIL REIT IN	COM CLASS A	02607T109	276,243	46,584	SH		SOLE		46,584	0	0
JAZZ PHARMACEUTICALS PLC	SHS USD	G50871105	1,191,639	7,480	SH		SOLE		7,480	0	0
CITI TRENDS INC	COM	17306X102	6,659,190	251,480	SH		SOLE		251,480	0	0
COMMERCIAL METALS CO	COM	201723103	1,868,630	38,688	SH		SOLE		38,688	0	0
AMERIPRISE FINL INC	COM	03076C106	8,703,103	27,951	SH		SOLE		27,951	0	0
URSTADT BIDDLE PPTYS INC	CL A	917286205	341,100	18,000	SH		SOLE		18,000	0	0
LUMEN TECHNOLOGIES INC	COM	550241103	3,091,722	592,284	SH		SOLE		592,284	0	0
LTC PPTYS INC	COM	502175102	248,781	7,002	SH		SOLE		7,002	0	0
HIBBETT INC	COM	428567101	7,017,587	102,867	SH		SOLE		102,867	0	0
VANGUARD SCOTTSDALE FDS	LONG TERM TREAS	92206C847	1,636,257	26,554	SH		SOLE		26,554	0	0
RAMACO RES INC	COM	75134P303	1,949,903	221,832	SH		SOLE		221,832	0	0
GLOBAL NET LEASE INC	COM NEW	379378201	274,227	21,816	SH		SOLE		21,816	0	0
WHITESTONE REIT	COM	966084204	310,080	32,166	SH		SOLE		32,166	0	0
QUEST DIAGNOSTICS INC	COM	74834L100	6,548,578	41,860	SH		SOLE		41,860	0	0
VISTRA CORP	COM	92840M102	982,010	42,328	SH		SOLE		42,328	0	0
PARAMOUNT GROUP INC	COM	69924R108	235,224	39,600	SH		SOLE		39,600	0	0
WHIRLPOOL CORP	COM	963320106	5,751,198	40,656	SH		SOLE		40,656	0	0
VAALCO ENERGY INC	COM NEW	91851C201	1,076,999	236,184	SH		SOLE		236,184	0	0
VANGUARD SCOTTSDALE FDS	SHRT TRM CORP BD	92206C409	953,560	12,682	SH		SOLE		12,682	0	0
HIGHWOODS PPTYS INC	COM	431284108	201,456	7,200	SH		SOLE		7,200	0	0
XEROX HOLDINGS CORP	COM NEW	98421M106	4,070,728	278,817	SH		SOLE		278,817	0	0
WP CAREY INC	COM	92936U109	305,254	3,906	SH		SOLE		3,906	0	0
SCOTTS MIRACLE-GRO CO	CL A	810186106	621,952	12,800	SH		SOLE		12,800	0	0
PULTE GROUP INC	COM	745867101	6,636,498	145,761	SH		SOLE		145,761	0	0
GRAND CANYON ED INC	COM	38526M106	7,737,165	73,227	SH		SOLE		73,227	0	0
NORTHWEST BANCSHARES INC MD	COM	667340103	6,043,820	432,319	SH		SOLE		432,319	0	0
VANECK ETF TRUST	GOLD MINERS ETF	92189F106	403,418	14,076	SH		SOLE		14,076	0	0
WARRIOR MET COAL INC	COM	93627C101	1,087,973	31,408	SH		SOLE		31,408	0	0
CHORD ENERGY CORPORATION	COM NEW	674215207	1,395,736	10,202	SH		SOLE		10,202	0	0
KILROY RLTY CORP	COM	49427F108	208,818	5,400	SH		SOLE		5,400	0	0
TOLL BROTHERS INC	COM	889478103	9,744,134	195,195	SH		SOLE		195,195	0	0
NEXPOINT DIVERSIFIED REL ET	COM NEW	65340G205	263,525	23,508	SH		SOLE		23,508	0	0
HERSHA HOSPITALITY TR	PR SHS BEN INT	427825500	274,821	32,256	SH		SOLE		32,256	0	0
SITE CTRS CORP	COM	82981J109	295,056	21,600	SH		SOLE		21,600	0	0
TRAVELERS COMPANIES INC	COM	89417E109	1,618,414	8,632	SH		SOLE		8,632	0	0
WESTERN UN CO	COM	959802109	4,421,519	321,098	SH		SOLE		321,098	0	0
SPIRIT RLTY CAP INC NEW	COM NEW	84860W300	283,902	7,110	SH		SOLE		7,110	0	0
MUELLER INDS INC	COM	624756102	1,153,568	19,552	SH		SOLE		19,552	0	0
VANGUARD SCOTTSDALE FDS	INT-TERM CORP	92206C870	1,383,554	17,850	SH		SOLE		17,850	0	0
LINCOLN NATL CORP IND	COM	534187109	2,980,454	97,020	SH		SOLE		97,020	0	0
GENWORTH FINL INC	COM CL A	37247D106	1,259,840	238,155	SH		SOLE		238,155	0	0
MATSON INC	COM	57686G105	5,631,526	90,090	SH		SOLE		90,090	0	0
OXFORD INDS INC	COM	691497309	6,092,667	65,386	SH		SOLE		65,386	0	0
WESTLAKE CORPORATION	COM	960413102	1,567,632	15,288	SH		SOLE		15,288	0	0
SABRA HEALTH CARE REIT INC	COM	78573L106	283,702	22,824	SH		SOLE		22,824	0	0
SPARTANNASH CO	COM	847215100	871,154	28,808	SH		SOLE		28,808	0	0
GETTY RLTY CORP NEW	COM	374297109	355,222	10,494	SH		SOLE		10,494	0	0
UNIVERSAL CORP VA	COM	913456109	633,720	12,000	SH		SOLE		12,000	0	0
HYDROFARM HLDGS GROUP INC	COM	44888K209	87,048	56,160	SH		SOLE		56,160	0	0
HELIX ENERGY SOLUTIONS GRP I	COM	42330P107	1,859,701	251,992	SH		SOLE		251,992	0	0
PERMIAN RESOURCES CORP	CLASS A COM	71424F105	1,899,477	202,072	SH		SOLE		202,072	0	0
MANPOWERGROUP INC WIS	COM	56418H100	6,326,956	76,036	SH		SOLE		76,036	0	0
MID-AMER APT CMNTYS INC	COM	59522J103	282,582	1,800	SH		SOLE		1,800	0	0
ZIONS BANCORPORATION N A	COM	989701107	6,223,066	126,588	SH		SOLE		126,588	0	0
UNUM GROUP	COM	91529Y106	1,570,300	38,272	SH		SOLE		38,272	0	0
NATIONAL RETAIL PROPERTIES I	COM	637417106	329,472	7,200	SH		SOLE		7,200	0	0
INGLES MKTS INC	CL A	457030104	1,033,280	10,712	SH		SOLE		10,712	0	0
INVENTRUST PPTYS CORP	COM NEW	46124J201	288,443	12,186	SH		SOLE		12,186	0	0
JEFFERIES FINL GROUP INC	COM	47233W109	1,101,622	32,136	SH		SOLE		32,136	0	0
TILRAY BRANDS INC	COM CL 2	88688T100	480,004	178,440	SH		SOLE		178,440	0	0
PATTERSON-UTI ENERGY INC	COM	703481101	1,509,672	89,648	SH		SOLE		89,648	0	0
WISDOMTREE TR	WISDOMTREE US VA	97717W547	209,009	3,665	SH		SOLE		0	0	3,665
TANGER FACTORY OUTLET CTRS I	COM	875465106	278,680	15,534	SH		SOLE		15,534	0	0
CAMBRIA ETF TR	GLB MOMENT ETF	132061508	12,988,085	458,618	SH		SOLE		0	0	458,618
HUNTSMAN CORP	COM	447011107	5,979,703	217,602	SH		SOLE		217,602	0	0
RETAIL OPPORTUNITY INVTS COR	COM	76131N101	270,540	18,000	SH		SOLE		18,000	0	0
MYMD PHARMACEUTICALS INC	COM	62856X102	79,166	68,840	SH		SOLE		68,840	0	0
PERDOCEO ED CORP	COM	71363P106	1,217,167	87,566	SH		SOLE		87,566	0	0
MATADOR RES CO	COM	576485205	2,000,195	34,944	SH		SOLE		34,944	0	0
SIGA TECHNOLOGIES INC	COM	826917106	1,364,014	185,328	SH		SOLE		185,328	0	0
GREENLANE HLDGS INC	CL A NEW	395330202	9,436	32,820	SH		SOLE		32,820	0	0
WISDOMTREE TR	FUTRE STRAT FD	97717W125	2,913,197	92,365	SH		SOLE		0	0	92,365
UNIVERSAL HLTH SVCS INC	CL B	913903100	7,257,667	51,513	SH		SOLE		51,513	0	0
PHOTRONICS INC	COM	719405102	959,175	56,992	SH		SOLE		56,992	0	0
SMITH & WESSON BRANDS INC	COM	831754106	3,703,383	426,657	SH		SOLE		426,657	0	0
ISHARES TR	NATIONAL MUN ETF	464288414	1,397,353	13,242	SH		SOLE		0	0	13,242
SPROUTS FMRS MKT INC	COM	85208M102	8,726,207	269,577	SH		SOLE		269,577	0	0
RESOLUTE FST PRODS INC	COM	76117W109	1,497,655	69,368	SH		SOLE		69,368	0	0
SLM CORP	COM	78442P106	6,097,014	367,290	SH		SOLE		367,290	0	0
SCHOLASTIC CORP	COM	807066105	1,218,840	30,888	SH		SOLE		30,888	0	0
VICI PPTYS INC	COM	925652109	408,240	12,600	SH		SOLE		12,600	0	0
PIEDMONT OFFICE REALTY TR IN	COM CL A	720190206	165,060	18,000	SH		SOLE		18,000	0	0
GROWGENERATION CORP	COM	39986L109	209,328	53,400	SH		SOLE		53,400	0	0
SUNCOKE ENERGY INC	COM	86722A103	1,279,864	148,304	SH		SOLE		148,304	0	0
TAPESTRY INC	COM	876030107	6,738,104	176,946	SH		SOLE		176,946	0	0
NATIONAL HEALTH INVS INC	COM	63633D104	250,969	4,806	SH		SOLE		4,806	0	0
NBT BANCORP INC	COM	628778102	1,219,190	28,079	SH		SOLE		28,079	0	0
HP INC	COM	40434L105	5,995,933	223,146	SH		SOLE		223,146	0	0
WESBANCO INC	COM	950810101	1,153,739	31,199	SH		SOLE		31,199	0	0
TIMKENSTEEL CORPORATION	COM	887399103	1,636,463	90,064	SH		SOLE		90,064	0	0
SAUL CTRS INC	COM	804395101	292,896	7,200	SH		SOLE		7,200	0	0
ISHARES TR	7-10 YR TRSY BD	464287440	1,060,380	11,071	SH		SOLE		11,071	0	0
ISHARES TR	TIPS BD ETF	464287176	1,016,289	9,548	SH		SOLE		9,548	0	0
WM TECHNOLOGY INC	COM	92971A109	76,922	76,160	SH		SOLE		76,160	0	0
UNIVERSAL HEALTH RLTY INCOME	SH BEN INT	91359E105	303,276	6,354	SH		SOLE		6,354	0	0
HAVERTY FURNITURE COS INC	COM	419596101	5,698,193	190,575	SH		SOLE		190,575	0	0
VANECK ETF TRUST	INTERNATIONAL HI	92189F445	922,750	46,852	SH		SOLE		46,852	0	0
INVESCO EXCH TRADED FD TR II	FTSE RAFI DEV	46138E743	271,227	6,529	SH		SOLE		0	0	6,529
INTERNATIONAL PAPER CO	COM	460146103	5,161,982	149,061	SH		SOLE		149,061	0	0
TRI POINTE HOMES INC	COM	87265H109	5,625,520	302,610	SH		SOLE		302,610	0	0
NRG ENERGY INC	COM NEW	629377508	1,585,145	49,816	SH		SOLE		49,816	0	0
HILLTOP HOLDINGS INC	COM	432748101	6,190,553	206,283	SH		SOLE		206,283	0	0
PHILIP MORRIS INTL INC	COM	718172109	898,745	8,880	SH		SOLE		8,880	0	0
URBAN-GRO INC	COM NEW	91704K202	117,286	43,120	SH		SOLE		43,120	0	0
PBF ENERGY INC	CL A	69318G106	1,378,323	33,799	SH		SOLE		33,799	0	0
KIMCO RLTY CORP	COM	49446R109	304,992	14,400	SH		SOLE		14,400	0	0
TURNING PT BRANDS INC	COM	90041L105	607,370	28,080	SH		SOLE		28,080	0	0
FOUR CORNERS PPTY TR INC	COM	35086T109	310,849	11,988	SH		SOLE		11,988	0	0
SYNCHRONY FINANCIAL	COM	87165B103	4,698,619	142,989	SH		SOLE		142,989	0	0
VANGUARD MUN BD FDS	TAX EXEMPT BD	922907746	438,810	8,866	SH		SOLE		0	0	8,866
HANMI FINL CORP	COM NEW	410495204	1,145,430	46,280	SH		SOLE		46,280	0	0
GROUP 1 AUTOMOTIVE INC	COM	398905109	1,069,233	5,928	SH		SOLE		5,928	0	0
LKQ CORP	COM	501889208	6,645,806	124,430	SH		SOLE		124,430	0	0
OLD REP INTL CORP	COM	680223104	1,105,104	45,760	SH		SOLE		45,760	0	0
VANECK ETF TRUST	EMERGING MRKT HI	92189F353	1,835,131	100,776	SH		SOLE		100,776	0	0
OMEGA HEALTHCARE INVS INC	COM	681936100	264,128	9,450	SH		SOLE		9,450	0	0
ABRDN GOLD ETF TRUST	PHYSCL GOLD SHS	00326A104	515,040	29,481	SH		SOLE		0	0	29,481
INNOVATIVE INDL PPTYS INC	COM	45781V101	827,016	8,160	SH		SOLE		8,160	0	0
UNITED STATES STL CORP NEW	COM	912909108	1,117,631	44,616	SH		SOLE		44,616	0	0
MACYS INC	COM	55616P104	6,196,425	300,069	SH		SOLE		300,069	0	0
INSTEEL INDS INC	COM	45774W108	987,418	35,880	SH		SOLE		35,880	0	0
GREIF INC	CL A	397624107	6,908,924	103,026	SH		SOLE		103,026	0	0
LOUISIANA PAC CORP	COM	546347105	9,750,418	164,703	SH		SOLE		164,703	0	0
ZUMIEZ INC	COM	989817101	4,687,927	215,636	SH		SOLE		215,636	0	0
PEABODY ENERGY CORP	COM	704551100	1,280,419	48,464	SH		SOLE		48,464	0	0
SANDRIDGE ENERGY INC	COM NEW	80007P869	1,032,563	60,632	SH		SOLE		60,632	0	0
RPT REALTY	SH BEN INT	74971D101	253,008	25,200	SH		SOLE		25,200	0	0
PUBLIC STORAGE	COM	74460D109	353,039	1,260	SH		SOLE		1,260	0	0
HERITAGE FINL CORP WASH	COM	42722X106	1,182,214	38,584	SH		SOLE		38,584	0	0
FRANKLIN STR PPTYS CORP	COM	35471R106	171,990	63,000	SH		SOLE		63,000	0	0
REXFORD INDL RLTY INC	COM	76169C100	295,056	5,400	SH		SOLE		5,400	0	0
ISHARES TR	SHORT TREAS BD	464288679	14,432,145	131,296	SH		SOLE		131,294	0	2
MR COOPER GROUP INC	COM	62482R107	6,539,144	162,949	SH		SOLE		162,949	0	0
METLIFE INC	COM	59156R108	8,154,506	112,678	SH		SOLE		112,678	0	0
ISHARES TR	GLOBAL ENERG ETF	464287341	14,611,893	374,760	SH		SOLE		374,760	0	0
NUCOR CORP	COM	670346105	13,508,943	102,488	SH		SOLE		102,488	0	0
CAMBRIA ETF TR	GLOBAL VALUE ETF	132061409	24,748,790	1,234,969	SH		SOLE		1,101,513	0	133,456
GRANITESHARES GOLD TR	SHS BEN INT	38748G101	3,779,887	209,412	SH		SOLE		209,412	0	0
CIGNA CORP NEW	COM	125523100	9,966,045	30,078	SH		SOLE		30,078	0	0
AMERICAN FINL GROUP INC OHIO	COM	025932104	7,906,230	57,592	SH		SOLE		57,592	0	0
CAMBRIA ETF TR	SHSHLD YIELD ETF	132061201	24,255,760	408,965	SH		SOLE		375,237	0	33,728
FLEXSHARES TR	MORNSTAR UPSTR	33939L407	13,634,278	313,648	SH		SOLE		313,648	0	0
SPDR SER TR	FTSE INT GVT ETF	78464A490	3,575,254	86,778	SH		SOLE		86,778	0	0
ISHARES TR	1 3 YR TREAS BD	464287457	14,413,519	177,572	SH		SOLE		177,572	0	0
BOISE CASCADE CO DEL	COM	09739D100	8,909,245	129,740	SH		SOLE		129,740	0	0
PIONEER NAT RES CO	COM	723787107	7,490,278	32,796	SH		SOLE		32,796	0	0
OVINTIV INC	COM	69047Q102	8,568,215	168,965	SH		SOLE		168,965	0	0
ISHARES TR	GLOBAL FINLS ETF	464287333	13,328,602	189,650	SH		SOLE		189,650	0	0
INVESCO DB MULTI-SECTOR COMM	ENERGY FD	46140H304	12,485,185	550,736	SH		SOLE		550,736	0	0
VANGUARD SCOTTSDALE FDS	INTER TERM TREAS	92206C706	10,646,752	182,058	SH		SOLE		182,058	0	0
RYERSON HLDG CORP	COM	783754104	10,595,751	350,157	SH		SOLE		350,157	0	0
MOSAIC CO NEW	COM	61945C103	9,904,311	225,765	SH		SOLE		225,765	0	0
CAMBRIA ETF TR	VALUE MOMENTUM	132061888	48,947,439	1,798,876	SH		SOLE		1,688,657	0	110,219
RELIANCE STEEL & ALUMINUM CO	COM	759509102	9,308,798	45,983	SH		SOLE		45,983	0	0
MARATHON PETE CORP	COM	56585A102	8,634,159	74,183	SH		SOLE		74,183	0	0
REGIONS FINANCIAL CORP NEW	COM	7591EP100	7,285,038	337,896	SH		SOLE		337,896	0	0
CALIFORNIA RES CORP	COM STOCK	13057Q305	7,371,290	169,416	SH		SOLE		169,416	0	0
VERITIV CORP	COM	923454102	10,177,634	83,622	SH		SOLE		83,622	0	0
LITMAN GREGORY FDS TR	IMGP DBI MANAGED	53700T827	19,632,452	674,422	SH		SOLE		664,662	0	9,760
VANGUARD CHARLOTTE FDS	TOTAL INT BD ETF	92203J407	3,173,591	66,911	SH		SOLE		66,262	0	649
INVESCO ACTVELY MNGD ETC FD	OPTIMUM YIELD	46090F100	7,432,168	502,853	SH		SOLE		471,532	0	31,321
ISHARES TR	GLOB INDSTRL ETF	464288729	13,134,902	123,344	SH		SOLE		123,344	0	0
VANGUARD BD INDEX FDS	TOTAL BND MRKT	921937835	11,779,129	163,963	SH		SOLE		141,014	0	22,949
CF INDS HLDGS INC	COM	125269100	6,548,813	76,864	SH		SOLE		76,864	0	0
MARATHON OIL CORP	COM	565849106	8,415,603	310,883	SH		SOLE		310,883	0	0
VOYA FINANCIAL INC	COM	929089100	6,814,260	110,819	SH		SOLE		110,819	0	0
ISHARES TR	GLOB HLTHCRE ETF	464287325	13,849,869	163,170	SH		SOLE		163,170	0	0
CAMBRIA ETF TR	CAMBRIA FGN SHR	132061300	21,969,845	905,084	SH		SOLE		859,501	0	45,583
PLAINS GP HLDGS L P	LTD PARTNR INT A	72651A207	8,276,742	665,333	SH		SOLE		665,333	0	0
LOEWS CORP	COM	540424108	8,741,742	149,867	SH		SOLE		149,867	0	0
SANMINA CORPORATION	COM	801056102	9,259,095	161,618	SH		SOLE		161,618	0	0
PDC ENERGY INC	COM	69327R101	8,532,093	134,406	SH		SOLE		134,406	0	0
SCHWAB STRATEGIC TR	US TIPS ETF	808524870	20,729,263	400,256	SH		SOLE		377,966	0	22,290
THE ODP CORP	COM	88337F105	7,602,083	166,932	SH		SOLE		166,932	0	0
APA CORPORATION	COM	03743Q108	8,685,887	186,073	SH		SOLE		186,073	0	0
EXXON MOBIL CORP	COM	30231G102	9,917,183	89,911	SH		SOLE		89,911	0	0
ALPHA METALLURGICAL RESOUR I	COM	020764106	8,503,941	58,091	SH		SOLE		58,091	0	0
EA SERIES TRUST	VAL MOMTM TRND	02072L508	2,102,727	86,248	SH		SOLE		86,248	0	0
MCKESSON CORP	COM	58155Q103	12,820,851	34,178	SH		SOLE		34,178	0	0
DILLARDS INC	CL A	254067101	12,814,556	39,649	SH		SOLE		39,649	0	0
CAMBRIA ETF TR	EMRG SHAREHLDR	132061706	10,182,100	363,127	SH		SOLE		323,944	0	39,183
CNX RES CORP	COM	12653C108	7,880,177	467,944	SH		SOLE		467,944	0	0
STEEL DYNAMICS INC	COM	858119100	8,476,452	86,760	SH		SOLE		86,760	0	0
ADTALEM GLOBAL ED INC	COM	00737L103	6,871,700	193,569	SH		SOLE		193,569	0	0
PENSKE AUTOMOTIVE GRP INC	COM	70959W103	11,092,699	96,517	SH		SOLE		96,517	0	0
PRINCIPAL FINANCIAL GROUP IN	COM	74251V102	9,823,255	117,055	SH		SOLE		117,055	0	0
ARCH RESOURCES INC	CL A	03940R107	8,202,143	57,442	SH		SOLE		57,442	0	0
CONOCOPHILLIPS	COM	20825C104	8,582,730	72,735	SH		SOLE		72,735	0	0
CAMBRIA ETF TR	GBL REAL EST ETF	132061813	8,791,974	335,628	SH		SOLE		296,040	0	39,588
VALERO ENERGY CORP	COM	91913Y100	13,303,428	104,867	SH		SOLE		104,867	0	0
AUTONATION INC	COM	05329W102	9,032,621	84,181	SH		SOLE		84,181	0	0
DIAMONDBACK ENERGY INC	COM	25278X109	8,703,722	63,633	SH		SOLE		63,633	0	0
VANECK ETF TRUST	JP MRGAN EM LOC	92189H300	12,267,736	506,303	SH		SOLE		458,783	0	47,520
OLIN CORP	COM PAR $1	680665205	7,517,798	142,006	SH		SOLE		142,006	0	0

Cambria Investment Management 13F-HRQuarterly holdings report by institutional manager