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
OMB APPROVAL
OMB Number: 3235-0006
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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
Accenture PLC SHS CL A G1151C101 4,536 43,408 SH   SOLE   43,408 0 0
Advance Auto Parts Inc. COM 00751Y106 2,450 16,277 SH   SOLE   16,277 0 0
Advanced Semiconductor Enginee SPONSORED ADR 00756M404 131 23,100 SH   SOLE   23,100 0 0
Aetna Inc. COM 00817Y108 6,695 61,919 SH   SOLE   61,919 0 0
Alaska Air Group Inc. COM 011659109 6,060 75,267 SH   SOLE   75,267 0 0
Alexion Pharmaceuticals Inc. COM 015351109 4,440 23,274 SH   SOLE   23,274 0 0
Alleghany Corp. COM 017175100 2,511 5,254 SH   SOLE   5,254 0 0
Allied World Assurance Company SHS H01531104 2,741 73,703 SH   SOLE   73,703 0 0
Allstate Corp. COM 020002101 9,802 157,872 SH   SOLE   157,872 0 0
Alon Usa Energy Inc. COM 020520102 3,400 229,093 SH   SOLE   229,093 0 0
Amdocs Ltd. COM G02602103 3,115 57,081 SH   SOLE   57,081 0 0
American Airlines Group Inc. COM 02376R102 9,557 225,658 SH   SOLE   225,658 0 0
AmerisourceBergen Corp. COM 03073E105 5,047 48,664 SH   SOLE   48,664 0 0
Amgen Inc. COM 031162100 6,260 38,561 SH   SOLE   38,561 0 0
AMN Healthcare Services Inc. COM 001744101 1,042 33,570 SH   SOLE   33,570 0 0
Anthem Inc COM 036752103 6,428 46,102 SH   SOLE   46,102 0 0
Argo Group International Holding COM G0464B107 785 13,113 SH   SOLE   13,113 0 0
Arrow Electronics Inc. COM 042735100 5,829 107,588 SH   SOLE   107,588 0 0
Asbury Automotive Group Inc. COM 043436104 3,994 59,218 SH   SOLE   59,218 0 0
Aspen Insurance Holdings Ltd. SHS G05384105 4,293 88,875 SH   SOLE   88,875 0 0
Assured Guaranty Ltd. COM G0585R106 9,244 349,736 SH   SOLE   349,736 0 0
AutoNation Inc. COM 05329W102 4,951 82,983 SH   SOLE   82,983 0 0
AutoZone Inc. COM 053332102 4,624 6,233 SH   SOLE   6,233 0 0
Avis Budget Group Inc. COM 053774105 917 25,261 SH   SOLE   25,261 0 0
Avnet Inc. COM 053807103 5,943 138,723 SH   SOLE   138,723 0 0
Axis Capital Holdings Ltd SHS G0692U109 5,217 92,796 SH   SOLE   92,796 0 0
BB&T Corp. COM 054937107 4,967 131,368 SH   SOLE   131,368 0 0
Big Lots Inc. COM 089302103 4,311 111,845 SH   SOLE   111,845 0 0
Biogen Inc. COM 09062X103 4,025 13,139 SH   SOLE   13,139 0 0
Boeing Co. COM 097023105 5,139 35,542 SH   SOLE   35,542 0 0
Braskem S/A (ADS) SP ADR PFD A 105532105 166 12,267 SH   SOLE   12,267 0 0
Brookfield Property Partners UNIT LTD PARTN G16249107 796 34,249 SH   SOLE   34,249 0 0
Burlington Stores, Inc. COM 122017106 1,111 25,903 SH   SOLE   25,903 0 0
CACI International Inc. CL A 127190304 2,362 25,463 SH   SOLE   25,463 0 0
CalAtlantic Group COM 128195104 9,106 240,148 SH   SOLE   240,148 0 0
Capital One Financial Corp. COM 14040H105 8,328 115,383 SH   SOLE   115,383 0 0
Cardinal Health Inc. COM 14149Y108 12,056 135,053 SH   SOLE   135,053 0 0
CarMax Inc. COM 143130102 5,377 99,631 SH   SOLE   99,631 0 0
Celgene Corp. COM 151020104 5,096 42,548 SH   SOLE   42,548 0 0
Centene Corp. COM 15135B101 3,640 55,315 SH   SOLE   55,315 0 0
CGI Group Inc. Class A CL A SUB VTG 39945c109 2,178 54,408 SH   SOLE   54,408 0 0
Chicago Bridge & Iron Co. N.V. COM 167250109 4,469 114,631 SH   SOLE   114,631 0 0
China Mobile Ltd. ADS SPONSORED ADR 16941M109 2,221 39,439 SH   SOLE   39,439 0 0
China Petroleum & Chemical Corp SPONSORED ADR 16941R108 408 6,799 SH   SOLE   6,799 0 0
Cigna Corporation COM 125509109 5,209 35,596 SH   SOLE   35,596 0 0
Cognizant Technology Solutions CL A 192446102 3,425 57,069 SH   SOLE   57,069 0 0
Comcast Corp. CL A 20030N101 4,979 88,233 SH   SOLE   88,233 0 0
Comfort Systems USA, Inc. COM 199908104 4,530 159,391 SH   SOLE   159,391 0 0
Computer Sciences Corp. COM 205363104 2,466 75,457 SH   SOLE   75,457 0 0
Convergys Corp. COM 212485106 3,614 145,186 SH   SOLE   145,186 0 0
Copa Holdings S.A. CL A P31076105 320 6,633 SH   SOLE   6,633 0 0
CSRA Inc COM 12650T104 2,264 75,457 SH   SOLE   75,457 0 0
CSX Corp. COM 126408103 1,445 55,694 SH   SOLE   55,694 0 0
CurrencyShares Euro Trust EURO SHS 23130C108 8,104 76,162 SH   SOLE   76,162 0 0
CurrencyShares Japanese Yen Tr JAPANESE YEN 23130A102 15,590 193,354 SH   SOLE   193,354 0 0
CVS Health Corp. COM 126650100 11,499 117,616 SH   SOLE   117,616 0 0
D.R. Horton Inc. COM 23331A109 6,801 212,331 SH   SOLE   212,331 0 0
Delek US Holdings Inc. COM 246647101 4,052 164,696 SH   SOLE   164,696 0 0
Delta Air Lines Inc. COM NEW 247361702 13,736 270,971 SH   SOLE   270,971 0 0
Discover Financial Services COM 254709108 8,402 156,686 SH   SOLE   156,686 0 0
Dollar General Corp. COM 256677105 9,399 130,777 SH   SOLE   130,777 0 0
Dr. Reddy's Laboratories Ltd. ADR 256135203 250 5,406 SH   SOLE   5,406 0 0
DST Systems Inc. COM 233326107 6,085 53,347 SH   SOLE   53,347 0 0
Dun & Bradstreet Corporation COM 26483E100 591 5,685 SH   SOLE   5,685 0 0
Emcor Group Inc COM 29084Q100 4,749 98,862 SH   SOLE   98,862 0 0
Endurance Specialty Holdings SHS G30397106 5,764 90,076 SH   SOLE   90,076 0 0
Everest Re Group Ltd. COM G3223R108 12,918 70,553 SH   SOLE   70,553 0 0
Express Scripts Holding Co. COM 30219G108 1,572 17,986 SH   SOLE   17,986 0 0
Fibria Celulose S.A. SP ADR REP COM 31573A109 323 25,433 SH   SOLE   25,433 0 0
Fidelity National Information COM 31620M106 1,864 30,754 SH   SOLE   30,754 0 0
Fifth Third Bancorp COM 316773100 4,889 243,245 SH   SOLE   243,245 0 0
Fiserv Inc. COM 337738108 6,342 69,342 SH   SOLE   69,342 0 0
Fluor Corp. COM 343412102 7,536 159,583 SH   SOLE   159,583 0 0
Ford Motor Company COM PAR $0.01 345370860 1,267 89,915 SH   SOLE   89,915 0 0
FTI Consulting, Inc. COM 302941109 492 14,208 SH   SOLE   14,208 0 0
General Motors Co. COM 37045V100 1,556 45,749 SH   SOLE   45,749 0 0
Gilead Sciences Inc. COM 375558103 5,290 52,277 SH   SOLE   52,277 0 0
Global Payments Inc. COM 37940X102 4,926 76,363 SH   SOLE   76,363 0 0
Goodyear Tire & Rubber Co. COM 382550101 1,763 53,960 SH   SOLE   53,960 0 0
Group 1 Automotive Inc. COM 398905109 3,486 46,046 SH   SOLE   46,046 0 0
Hawaiian Holdings Inc. COM 419879101 6,622 187,441 SH   SOLE   187,441 0 0
Health Net Inc. COM 42222G108 3,966 57,937 SH   SOLE   57,937 0 0
Henry Schein Inc. COM 806407102 3,815 24,117 SH   SOLE   24,117 0 0
Humana Inc. COM 444859102 4,944 27,694 SH   SOLE   27,694 0 0
ICICI Bank Limited ADR 45104G104 102 13,000 SH   SOLE   13,000 0 0
Icon Plc SHS G4705A100 1,928 24,810 SH   SOLE   24,810 0 0
Ingram Micro Inc. CL A 457153104 6,522 214,697 SH   SOLE   214,697 0 0
International Business Machine COM 459200101 6,829 49,620 SH   SOLE   49,620 0 0
Interpublic Group Of Cos. COM 460690100 10,649 457,451 SH   SOLE   457,451 0 0
iShares 3-7 Year Treasury Bond BARCLYS 3-7 YR 464288661 1,222 9,969 SH   SOLE   9,969 0 0
iShares 7-10 Year Treasury Bond 7-10 Y TR BD ETF 464287440 4,962 46,992 SH   SOLE   46,992 0 0
iShares Barclays CMBS Bond BARCLYS CMBS 46429B366 1,707 33,699 SH   SOLE   33,699 0 0
iShares Core MSCI Emerging Mar CORE MSCI EMKT 46434G103 8,846 224,583 SH   SOLE   224,583 0 0
iShares Floating Rate Bond ETF FLTG RATE BD ETF 46429B655 4,982 98,779 SH   SOLE   98,779 0 0
iShares iBoxx $ Investment Gra IBOXX INV CPBD 464287242 3,298 28,927 SH   SOLE   28,927 0 0
iShares Intermediate Credit INTERM CR BD ETF 464288638 1,350 12,587 SH   SOLE   12,587 0 0
iShares International Treasury INTL TREABO ETF 464288117 5,737 63,979 SH   SOLE   63,979 0 0
iShares MBS ETF MBS ETF 464288588 34,044 316,101 SH   SOLE   316,101 0 0
iShares MSCI India Small Cap MSCI INDIA SM CP 46429B614 500 15,020 SH   SOLE   15,020 0 0
Itau Unibanco Holding S/A SPON ADR REP PFD 465562106 70 10,775 SH   SOLE   10,775 0 0
Jacobs Engineering Group Inc. COM 469814107 6,393 152,391 SH   SOLE   152,391 0 0
JetBlue Airways Corp. COM 477143101 6,229 275,001 SH   SOLE   275,001 0 0
Jones Lang LaSalle Inc. COM 48020Q107 1,293 8,090 SH   SOLE   8,090 0 0
KeyCorp COM 493267108 5,007 379,639 SH   SOLE   379,639 0 0
Korea Electric Power Corp. SPONSORED ADR 500631106 1,195 56,464 SH   SOLE   56,464 0 0
Korn Ferry International COM NEW 500643200 590 17,780 SH   SOLE   17,780 0 0
L-3 Communications Holdings COM 502424104 3,618 30,273 SH   SOLE   30,273 0 0
Lear Corp. COM NEW 521865204 2,342 19,066 SH   SOLE   19,066 0 0
Lennar Corp. CL A 526057104 9,738 199,098 SH   SOLE   199,098 0 0
Lithia Motors Inc. CL A 536797103 4,450 41,716 SH   SOLE   41,716 0 0
Lockheed Martin Corp. COM 539830109 7,149 32,924 SH   SOLE   32,924 0 0
LyondellBasell Industries N.V. SHS - A - N53745100 2,795 32,165 SH   SOLE   32,165 0 0
Magellan Health Inc. COM NEW 559079207 4,480 72,649 SH   SOLE   72,649 0 0
Magna International Inc. COM 559222401 5,840 143,988 SH   SOLE   143,988 0 0
ManpowerGroup Inc. COM 56418H100 6,028 71,520 SH   SOLE   71,520 0 0
Marathon Petroleum Corp. COM 56585A102 10,529 203,112 SH   SOLE   203,112 0 0
MasterCard Inc. CL A 57636Q104 7,432 76,334 SH   SOLE   76,334 0 0
Maximus Inc. COM 577933104 1,106 19,658 SH   SOLE   19,658 0 0
McKesson Corp. COM 58155Q103 9,281 47,056 SH   SOLE   47,056 0 0
Mercer International Inc. COM 588056101 551 60,905 SH   SOLE   60,905 0 0
Meritage Homes Corp. COM 59001A102 3,758 110,560 SH   SOLE   110,560 0 0
Navient Corp COM 63938C108 4,548 397,221 SH   SOLE   397,221 0 0
NeuStar Inc. CL A 64126X201 1,947 81,246 SH   SOLE   81,246 0 0
Norfolk Southern Corp. COM 655844108 1,101 13,011 SH   SOLE   13,011 0 0
Northrop Grumman Corp. COM 666807102 8,362 44,290 SH   SOLE   44,290 0 0
Nu Skin Enterprises Inc CL A 67018T105 3,076 81,178 SH   SOLE   81,178 0 0
O'Reilly Automotive Inc. COM 67103H107 4,676 18,450 SH   SOLE   18,450 0 0
Omnicom Group Inc. COM 681919106 12,657 167,291 SH   SOLE   167,291 0 0
Owens & Minor Inc COM 690732102 2,780 77,273 SH   SOLE   77,273 0 0
Owens Corning COM 690742101 1,519 32,298 SH   SOLE   32,298 0 0
PAREXEL International Corp. COM 699462107 1,772 26,012 SH   SOLE   26,012 0 0
Patterson Cos Inc COM 703395103 3,212 71,057 SH   SOLE   71,057 0 0
Penske Automotive Grp Inc COM 70959W103 4,551 107,495 SH   SOLE   107,495 0 0
PerkinElmer Inc. COM 714046109 1,091 20,366 SH   SOLE   20,366 0 0
Pharmerica Corp COM 71714f104 1,843 52,665 SH   SOLE   52,665 0 0
Phillips 66 COM 718546104 7,482 91,466 SH   SOLE   91,466 0 0
PNC Financial Services Group COM 693475105 4,941 51,842 SH   SOLE   51,842 0 0
PowerShares Build America Bond BUILD AMER ETF 73937B407 5,646 194,759 SH   SOLE   194,759 0 0
PowerShares International Corp INTL CORP BOND 73936Q835 439 17,393 SH   SOLE   17,393 0 0
PRA Group, Inc. COM 69354N106 1,798 51,820 SH   SOLE   51,820 0 0
ProShares Short Russell2000 SHORT RUSSELL2000 74348A210 16,451 264,865 SH   SOLE   264,865 0 0
ProShares Trust Short S&P500 PSHS SHRT S&P500 74347R503 29,278 1,402,882 SH   SOLE   1,402,882 0 0
PulteGroup Inc. COM 745867101 8,524 478,335 SH   SOLE   478,335 0 0
Quest Diagnostics Inc. COM 74834L100 4,664 65,565 SH   SOLE   65,565 0 0
Quintiles Transnational Holding COM 74876Y101 1,542 22,459 SH   SOLE   22,459 0 0
Raytheon Co. COM NEW 755111507 5,954 47,810 SH   SOLE   47,810 0 0
Reinsurance Group of America COM NEW 759351604 7,750 90,588 SH   SOLE   90,588 0 0
Rite Aid Corp. COM 767754104 4,827 615,639 SH   SOLE   615,639 0 0
Robert Half International Inc. COM 770323103 929 19,700 SH   SOLE   19,700 0 0
Ryder System Inc. COM 783549108 869 15,285 SH   SOLE   15,285 0 0
Sabre Corp. COM 78573M104 1,511 54,022 SH   SOLE   54,022 0 0
Santander Consumer USA Holding COM 80283M101 2,970 187,374 SH   SOLE   187,374 0 0
Science Applications International COM 808625107 2,333 50,955 SH   SOLE   50,955 0 0
Select Medical Holdings Corp COM 81619Q105 2,038 171,131 SH   SOLE   171,131 0 0
Southwest Airlines Co. COM 844741108 9,068 210,596 SH   SOLE   210,596 0 0
SPDR Barclays 1-3 Month T-Bill BRCLYS 1-3MT ETF 78464A680 1,121 24,531 SH   SOLE   24,531 0 0
SPDR Barclays International BARCLY INTL CRP 78464A151 450 14,608 SH   SOLE   14,608 0 0
SPDR Barclays International Tr BARCLY INTL ETF 78464A516 53,332 1,032,970 SH   SOLE   1,032,970 0 0
SPDR Barclays Short Term Inter SHT TRM HGH YLD 78464A334 2,638 88,679 SH   SOLE   88,679 0 0
SunTrust Banks Inc. COM 867914103 4,896 114,292 SH   SOLE   114,292 0 0
Swift Transportation CL A 87074U101 898 64,962 SH   SOLE   64,962 0 0
Syntel Inc. COM 87162H103 976 21,569 SH   SOLE   21,569 0 0
Target Corp. COM 87612E106 10,260 141,300 SH   SOLE   141,300 0 0
Tata Motors Ltd. SPONSORED ADR 876568502 1,846 62,625 SH   SOLE   62,625 0 0
Tech Data Corp. COM 878237106 5,594 84,274 SH   SOLE   84,274 0 0
Telekomunikasi Indonesia SPONSORED ADR 715684106 244 5,492 SH   SOLE   5,492 0 0
Teradata Corp. COM 88076W103 1,462 55,342 SH   SOLE   55,342 0 0
Tesoro Corp. COM 881609101 10,178 96,596 SH   SOLE   96,596 0 0
The Hanover Insurance Group COM 410867105 2,643 32,490 SH   SOLE   32,490 0 0
Thor Industries Inc. COM 885160101 590 10,505 SH   SOLE   10,505 0 0
Toyota Motor Corp. SP ADR REP2COM 892331307 1,292 10,500 SH   SOLE   10,500 0 0
Travelers Companies, Inc. COM 89417E109 11,608 102,854 SH   SOLE   102,854 0 0
Triumph Group Inc. COM 896818101 1,482 37,288 SH   SOLE   37,288 0 0
United Continental Holdings COM 910047109 1,138 19,854 SH   SOLE   19,854 0 0
United Therapeutics Corp. COM 91307C102 4,879 31,157 SH   SOLE   31,157 0 0
UnitedHealth Group Inc. COM 91324P102 6,555 55,718 SH   SOLE   55,718 0 0
Universal Forest Products Inc. COM 913543104 742 10,857 SH   SOLE   10,857 0 0
Valero Energy Corp. COM 91913Y100 15,107 213,641 SH   SOLE   213,641 0 0
Validus Holdings Ltd. COM SHS G9319H102 6,563 141,778 SH   SOLE   141,778 0 0
Vanguard Long Term Corporate LG-TRM COR BD 92206C813 2,901 34,463 SH   SOLE   34,463 0 0
Vanguard Mortgage-Backed Sec MORTG-BACK SEC 92206C771 4,201 79,679 SH   SOLE   79,679 0 0
Visa Inc. CL A 92826C839 8,338 107,517 SH   SOLE   107,517 0 0
Vodafone Group PLC SPNSR ADR NO PAR 92857W308 2,558 79,282 SH   SOLE   79,282 0 0
VWR Corp. COM 91843L103 1,593 56,286 SH   SOLE   56,286 0 0
Walgreens Boots Alliance Inc COM 931427108 11,656 136,882 SH   SOLE   136,882 0 0
Werner Enterprises Inc. COM 950755108 769 32,862 SH   SOLE   32,862 0 0
Western Refining Inc. COM 959319104 4,316 121,167 SH   SOLE   121,167 0 0
Western Union Co. COM 959802109 3,992 222,870 SH   SOLE   222,870 0 0
WPP PLC ADR 92937A102 8,862 77,235 SH   SOLE   77,235 0 0