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 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
500.COM LIMITEDADR33829R1007,669227,379SH DFND1227,37900
58.COM SPONSORED ADR CLASS AADR31680Q1042897,763SH DFND17,76300
AMERICAN STATES WATER COCOM02989910118,376604,075SH DFND1604,07500
ARGAN INCCOM04010E10912,705380,603SH DFND1380,60300
ASSURANT INCCOM04621X10820,710322,084SH DFND1322,08400
BELDEN INCCOM07745410615,747245,971SH DFND1245,97100
BIO-RAD LABORATORIES INCCOM09057220714,608128,817SH DFND1128,81700
CADENCE DESIGN SYSTEMS INCCOM12738710819,7681,148,640SH DFND11,148,64000
CENTENE CORPCOM15135B10117,416210,563SH DFND1210,56300
COLUMBIA BANKING SYSTEM INCCOM19723610217,711713,881SH DFND1713,88100
COLUMBIA SPORTSWEAR COCOM19851610614,378401,842SH DFND1401,84200
DELUXE CORPCOM24801910122,363405,412SH DFND1405,41200
ECHO GLOBAL LOGISTICS INCCOM27875T10114,378610,510SH DFND1610,51000
EL PASO ELECTRIC COCOM28367785420,988574,231SH DFND1574,23100
ENERSYS CORPCOM29275Y10214,536247,879SH DFND1247,87900
FEDERAL SIGNAL CORPCOM31385510815,9121,201,817SH DFND11,201,81700
GLOBE SPECIALTY METALS INCCOM37954N20615,220836,700SH DFND1836,70000
GREENBRIER COSCOM39365710138,829529,154SH DFND1529,15400
HEALTHSOUTH CORPCOM42192430917,808482,609SH DFND1482,60900
ICONIX BRAND GROUP INCCOM45105510717,836482,833SH DFND1482,83300
INTEGRATED DEVICE TECH INCCOM45811810625,2861,585,328SH DFND11,585,32800
ISHARES MSCI EAFE SMALL CAP ETFCOM4642882735,820120,000SH DFND1120,00000
ISHARES MSCI EMERGING MARKET SMALL CAP ETFCOM46428647553210,800SH DFND110,80000
ISHARES MSCI TAIWAN ETFCOM464286731825,400SH DFND15,40000
JONES LANG LASALLE INCCOM48020Q10725,518201,978SH DFND1201,97800
LASALLE HOTEL PROPERTIESCOM51794210817,666515,949SH DFND1515,94900
MARKET VECTORS ETF TR INDIA SMALL-CAP INDEX ETFCOM57061R5511,25828,491SH DFND128,49100
MARTEN TRANSPORT LTDCOM57307510813,872778,875SH DFND1778,87500
MATERION CORPCOM57669010114,428470,436SH DFND1470,43600
MENTOR GRAPHICS CORPCOM58720010615,392751,019SH DFND1751,01900
MINERALS TECHNOLOGIES INCCOM60315810625,034405,672SH DFND1405,67200
PAREXEL INTERNATIONALCOM69946210725,411402,768SH DFND1402,76800
PORTFOLIO RECOVERY ASSOCIATES INCCOM73640Q10521,698415,434SH DFND1415,43400
PORTLAND GENERAL ELECTRIC COCOM73650884716,923526,856SH DFND1526,85600
QIWI PLC-SPONSORED ADRADR74735M1082728,600SH DFND18,60000
RYDER SYSTEMS INCCOM78354910815,367170,800SH DFND1170,80000
SANDERSON FARMS INCCOM80001310418,809213,863SH DFND1213,86300
SIGNATURE BANK NYCOM82669G10423,029205,506SH DFND1205,50600
SNAP-ON INCCOM83303410127,066223,541SH DFND1223,54100
SOUTH STATE CORPORATIONCOM84044110923,031411,856SH DFND1411,85600
SPIRIT AIRLINES INCCOM84857710234,303496,143SH DFND1496,14300
STANDARD MOTOR PRODUCTS INCCOM85366610520,155585,381SH DFND1585,38100
STANDEX INTERNATIONAL CORPCOM85423110718,497249,483SH DFND1249,48300
STARZ INCCOM85571Q10221,488649,577SH DFND1649,57700
TARENA INTERNATIONAL INC-ADRADR87610810136228,000SH DFND128,00000
TELEDYNE TECHNOLOGIES INCCOM87936010520,271215,626SH DFND1215,62600
TELEFLEX INCCOM87936910617,470166,320SH DFND1166,32000
TESCO CORPCOM88157K10117,462879,677SH DFND1879,67700
TRUEBLUE INCCOM89785X10116,370648,074SH DFND1648,07400
VECTREN CORPORATIONCOM92240G10121,842547,410SH DFND1547,41000
VISHAY INTERTECHNOLOGY INCCOM92829810814,201993,800SH DFND1993,80000
WEBSTER FINANCIAL CORPCOM94789010919,075654,605SH DFND1654,60500
WESCO INTERNATIONAL INCCOM95082P10516,636212,575SH DFND1212,57500
WEST PHARMACEUTICAL SERVICES INCCOM95530610523,502525,074SH DFND1525,07400
WUXI PHARMATECH CAYMAN-ADRADR92935210249114,029SH DFND114,02900
YY INC-ADRADR98426T1063845,132SH DFND15,13200