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
Estimated average burden
hours per response: 23.8
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
ABM INDS INC COM 000957100 501 17,399 SH   SOLE 1 17,399 0 0
AGCO CORP COM 001084102 2,909 64,366 SH   SOLE 1 64,366 0 0
ALCOA INC COM 013817101 778 49,266 SH   SOLE 1 49,266 0 0
AMERIGAS PARTNERS L P UNIT L P INT 030975106 1,363 28,446 SH   SOLE 1 28,446 0 0
ATLANTIC TELE NETWORK INC COM NEW 049079205 829 12,205 SH   SOLE 1 12,205 0 0
BECTON DICKINSON & CO COM 075887109 1,675 12,036 SH   SOLE 1 12,036 0 0
BEMIS INC COM 081437105 1,249 27,634 SH   SOLE 1 27,634 0 0
BOB EVANS FARMS INC COM 096761101 2,112 41,263 SH   SOLE 1 41,263 0 0
BORGWARNER INC COM 099724106 1,061 19,304 SH   SOLE 1 19,304 0 0
CSG SYS INTL INC COM 126349109 606 24,177 SH   SOLE 1 24,177 0 0
CHARLES RIV LABS INTL INC COM 159864107 1,304 20,486 SH   SOLE 1 20,486 0 0
CHEVRON CORP NEW COM 166764100 2,051 18,283 SH   SOLE 1 18,283 0 0
CINCINNATI FINL CORP COM 172062101 1,200 22,975 SH   SOLE 1 22,975 0 0
CITRIX SYS INC COM 177376100 2,125 33,307 SH   SOLE 1 33,307 0 0
CON-WAY INC COM 205944101 1,568 31,875 SH   SOLE 1 31,875 0 0
COOPER TIRE & RUBR CO COM 216831107 2,947 85,044 SH   SOLE 1 85,044 0 0
CREE INC COM 225447101 2,675 83,008 SH   SOLE 1 83,008 0 0
DEVRY INC DEL COM 251893103 2,174 45,802 SH   SOLE 1 45,802 0 0
EATON VANCE CORP COM COM NON VTG 278265103 1,099 26,841 SH   SOLE 1 26,841 0 0
EMERSON ELEC CO COM 291011104 1,470 23,810 SH   SOLE 1 23,810 0 0
F M C CORP COM NEW 302491303 2,394 41,874 SH   SOLE 1 41,874 0 0
FACTSET RESH SYS INC COM 303075105 837 5,950 SH   SOLE 1 5,950 0 0
GANNETT INC COM 364730101 1,902 59,210 SH   SOLE 1 59,210 0 0
GERDAU S A SPONSORED ADR 373737105 1,701 479,261 SH   SOLE 1 479,261 0 0
HASBRO INC COM 418056107 1,877 34,129 SH   SOLE 1 34,129 0 0
HOSPIRA INC COM 441060100 1,644 26,844 SH   SOLE 1 26,844 0 0
HYATT HOTELS CORP COM CL A 448579102 305 5,073 SH   DFND 1 0 5,073 0
INTEL CORP COM 458140100 3,152 86,862 SH   SOLE 1 86,862 0 0
INTERPUBLIC GROUP COS INC COM 460690100 2,242 107,953 SH   SOLE 1 107,953 0 0
IRON MTN INC COM 462846106 3,783 97,858 SH   SOLE 1 97,858 0 0
ISHARES TR RUSL 3000 VALU 464287663 937 6,868 SH   SOLE 1 6,868 0 0
ITRON INC COM 465741106 2,086 49,327 SH   SOLE 1 49,327 0 0
JABIL CIRCUIT INC COM 466313103 2,599 119,040 SH   SOLE 1 119,040 0 0
KIMBERLY CLARK CORP COM 494368103 2,097 18,021 SH   SOLE 1 18,021 0 0
KOHLS CORP COM 500255104 2,129 34,874 SH   SOLE 1 34,874 0 0
LEAR CORP COM NEW 521865204 1,572 16,028 SH   SOLE 1 16,028 0 0
LEXMARK INTL NEW CL A 529771107 466 11,298 SH   SOLE 1 11,298 0 0
MATTEL INC COM 577081102 2,807 90,707 SH   SOLE 1 90,707 0 0
MCDERMOTT INTL INC COM 580037109 819 281,466 SH   SOLE 1 281,466 0 0
MEMORIAL PRODTN PARTNERS LP COM U REP LTD 586048100 627 42,995 SH   SOLE 1 42,995 0 0
MICROSOFT CORP COM 594918104 3,337 71,851 SH   SOLE 1 71,851 0 0
MOTOROLA SOLUTIONS INC COM NEW 620076307 1,623 24,066 SH   SOLE 1 24,066 0 0
MYERS INDS INC COM 628464109 893 50,380 SH   SOLE 1 50,380 0 0
NATIONAL CINEMEDIA INC COM 635309107 740 51,488 SH   SOLE 1 51,488 0 0
NATIONAL FUEL GAS CO N J COM 636180101 3,089 44,173 SH   SOLE 1 44,173 0 0
NATIONAL OILWELL VARCO INC COM 637071101 1,538 23,467 SH   SOLE 1 23,467 0 0
NEW YORK TIMES CO CL A 650111107 2,486 188,066 SH   SOLE 1 188,066 0 0
NORTHERN TR CORP COM 665859104 2,262 33,410 SH   SOLE 1 33,410 0 0
NUCOR CORP COM 670346105 1,300 26,301 SH   SOLE 1 26,301 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 2,709 33,289 SH   SOLE 1 33,289 0 0
OMNICOM GROUP INC COM 681919106 2,364 30,361 SH   SOLE 1 30,361 0 0
OWENS & MINOR INC NEW COM 690732102 1,675 47,710 SH   SOLE 1 47,710 0 0
OWENS CORNING NEW COM 690742101 3,283 91,278 SH   SOLE 1 91,278 0 0
PNC FINL SVCS GROUP INC COM 693475105 2,850 31,239 SH   SOLE 1 31,239 0 0
PEPSICO INC COM 713448108 965 10,140 SH   SOLE 1 10,140 0 0
PROCTER & GAMBLE CO COM 742718109 925 10,155 SH   SOLE 1 10,155 0 0
QUALCOMM INC COM 747525103 2,321 31,226 SH   SOLE 1 31,226 0 0
RAYMOND JAMES FINANCIAL INC COM 754730109 1,559 27,134 SH   SOLE 1 27,134 0 0
REPUBLIC SVCS INC COM 760759100 1,399 34,525 SH   SOLE 1 34,525 0 0
ROGERS COMMUNICATIONS INC CL B 775109200 1,877 48,292 SH   SOLE 1 48,292 0 0
SCHOLASTIC CORP COM 807066105 1,554 42,674 SH   SOLE 1 42,674 0 0
STAPLES INC COM 855030102 2,656 145,643 SH   SOLE 1 145,643 0 0
SYSCO CORP COM 871829107 2,066 51,649 SH   SOLE 1 51,649 0 0
THOMSON REUTERS CORP COM 884903105 1,988 49,276 SH   SOLE 1 49,276 0 0
TIME INC NEW COM 887228104 2,418 98,243 SH   SOLE 1 98,243 0 0
US BANCORP DEL COM NEW 902973304 2,317 51,259 SH   SOLE 1 51,259 0 0
UNILEVER PLC SPON ADR NEW 904767704 1,508 37,241 SH   SOLE 1 37,241 0 0
UNISYS CORP COM NEW 909214306 2,191 74,338 SH   SOLE 1 74,338 0 0
UNITED PARCEL SERVICE INC CL B 911312106 2,351 21,150 SH   SOLE 1 21,150 0 0
UNITED STATES STL CORP NEW COM 912909108 1,510 56,475 SH   SOLE 1 56,475 0 0
WAL MART STORES INC COM 931142103 1,144 13,249 SH   SOLE 1 13,249 0 0
WELLS FARGO & CO NEW COM 949746101 2,159 39,385 SH   SOLE 1 39,385 0 0
WERNER ENTERPRISES INC COM 950755108 1,815 58,176 SH   SOLE 1 58,176 0 0
WESTERN UN CO COM 959802109 1,623 90,594 SH   SOLE 1 90,594 0 0
THE ADI CORPORATION COM 00101J106 2,411 66,560 SH   SOLE 1 66,560 0 0
AKAMAI TECHNOLOGIES INC COM 00971T101 2,428 38,562 SH   SOLE 1 38,562 0 0
AMERICAN TOWER CORP NEW COM 03027X100 887 8,970 SH   DFND 1 0 8,970 0
BLACKROCK INC COM 09247X101 867 2,424 SH   SOLE 1 2,424 0 0
BOSTON PROPERTIES INC COM 101121101 603 4,685 SH   DFND 1 0 4,685 0
BROOKDALE SR LIVING INC COM 112463104 209 5,700 SH   DFND 1 0 5,700 0
CME GROUP INC COM 12572Q105 1,699 18,731 SH   SOLE 1 18,731 0 0
CAMDEN PPTY TR SH BEN INT 133131102 670 9,077 SH   DFND 1 0 9,077 0
CHESAPEAKE LODGING TR SH BEN INT 165240102 390 10,471 SH   DFND 1 0 10,471 0
CINEMARK HOLDINGS INC COM 17243V102 1,845 51,848 SH   SOLE 1 51,848 0 0
COMPASS MINERALS INTL INC COM 20451N101 1,050 12,097 SH   SOLE 1 12,097 0 0
COMPASS DIVERSIFIED HOLDINGS SH BEN INT 20451Q104 550 33,846 SH   SOLE 1 33,846 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 279 9,843 SH   DFND 1 0 9,843 0
CYRUSONE INC COM 23283R100 1,691 60,899 SH   SOLE 1 60,899 0 0
DUPONT FABROS TECHNOLOGY INC COM 26613Q106 332 10,002 SH   DFND 1 0 10,002 0
EPR PPTYS COM SH BEN INT 26884U109 307 5,334 SH   DFND 1 0 5,334 0
ENERGIZER HLDGS INC COM 29266R108 1,959 15,239 SH   SOLE 1 15,239 0 0
EXTRA SPACE STORAGE INC COM 30225T102 516 8,800 SH   DFND 1 0 8,800 0
FMC TECHNOLOGIES INC COM 30249U101 2,537 54,172 SH   SOLE 1 54,172 0 0
FINISAR CORP COM NEW 31787A507 1,546 79,640 SH   SOLE 1 79,640 0 0
GEO GROUP INC NEW COM 36162J106 1,595 39,509 SH   SOLE 1 39,509 0 0
HCP INC COM 40414L109 348 7,900 SH   DFND 1 0 7,900 0
INNOPHOS HOLDINGS INC COM 45774N108 961 16,446 SH   SOLE 1 16,446 0 0
J2 GLOBAL INC COM ADDED 48123V102 1,852 29,866 SH   SOLE 1 29,866 0 0
JUNIPER NETWORKS INC COM 48203R104 3,336 149,481 SH   SOLE 1 149,481 0 0
KIMCO RLTY CORP COM 49446R109 385 15,295 SH   DFND 1 0 15,295 0
LTC PPTYS INC COM 502175102 310 7,178 SH   DFND 1 0 7,178 0
MANPOWERGROUP INC COM 56418H100 856 12,563 SH   SOLE 1 12,563 0 0
MID-AMER APT CMNTYS INC COM 59522J103 591 7,908 SH   DFND 1 0 7,908 0
MOLSON COORS BREWING CO CL B 60871R209 2,817 37,803 SH   SOLE 1 37,803 0 0
NATIONAL RETAIL PPTYS INC COM 637417106 347 8,817 SH   DFND 1 0 8,817 0
NEW YORK REIT INC COM 64976L109 148 14,000 SH   DFND 1 0 14,000 0
NUANCE COMMUNICATIONS INC COM 67020Y100 2,489 174,421 SH   SOLE 1 174,421 0 0
NVIDIA CORP COM 67066G104 1,757 87,647 SH   SOLE 1 87,647 0 0
POLYPORE INTL INC COM 73179V103 2,750 58,438 SH   SOLE 1 58,438 0 0
PROLOGIS INC COM 74340W103 591 13,725 SH   DFND 1 0 13,725 0
PROSHARES TR PSHS CS 130/30 74347R248 20,586 204,000 SH   DFND 1 0 204,000 0
QUEST DIAGNOSTICS INC COM 74834L100 4,794 71,486 SH   SOLE 1 71,486 0 0
RAMCO-GERSHENSON PPTYS TR COM SH BEN INT 751452202 273 14,543 SH   DFND 1 0 14,543 0
REALTY INCOME CORP COM 756109104 379 7,948 SH   DFND 1 0 7,948 0
RETAIL OPPORTUNITY INVTS COR COM 76131N101 335 19,965 SH   DFND 1 0 19,965 0
SL GREEN RLTY CORP COM 78440X101 469 3,942 SH   DFND 1 0 3,942 0
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 438 1,660 SH   SOLE 1 1,660 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 1,119 36,843 SH   SOLE 1 36,843 0 0
SHAW COMMUNICATIONS INC CL B CONV 82028K200 1,684 62,393 SH   SOLE 1 62,393 0 0
SIMON PPTY GROUP INC NEW COM 828806109 1,401 7,695 SH   DFND 1 0 7,695 0
SOVRAN SELF STORAGE INC COM 84610H108 493 5,655 SH   DFND 1 0 5,655 0
STAG INDL INC COM 85254J102 377 15,368 SH   DFND 1 0 15,368 0
STRATEGIC HOTELS & RESORTS I COM 86272T106 331 25,018 SH   DFND 1 0 25,018 0
TARGET CORP COM 87612E106 2,252 29,665 SH   SOLE 1 29,665 0 0
TERADATA CORP DEL COM 88076W103 2,849 65,213 SH   SOLE 1 65,213 0 0
TRANSMONTAIGNE PARTNERS L P COM UNIT L P 89376V100 680 21,586 SH   SOLE 1 21,586 0 0
UDR INC COM 902653104 600 19,476 SH   DFND 1 0 19,476 0
VARIAN MED SYS INC COM 92220P105 2,272 26,259 SH   SOLE 1 26,259 0 0
VENTAS INC COM 92276F100 729 10,167 SH   DFND 1 0 10,167 0
VERIZON COMMUNICATIONS INC COM 92343V104 2,735 58,455 SH   SOLE 1 58,455 0 0
WASHINGTON PRIME GROUP INC COM 939647103 364 21,120 SH   DFND 1 0 21,120 0
WEYERHAEUSER CO COM 962166104 543 15,130 SH   DFND 1 0 15,130 0
WILLIAMS PARTNERS L P COM UNIT L P 96950F104 1,775 39,668 SH   SOLE 1 39,668 0 0
XYLEM INC COM 98419M100 2,233 58,642 SH   SOLE 1 58,642 0 0
AIRCASTLE LTD COM G0129K104 1,129 52,827 SH   SOLE 1 52,827 0 0
BUNGE LIMITED COM G16962105 1,859 20,453 SH   SOLE 1 20,453 0 0
PARTNERRE LTD COM G6852T105 1,737 15,216 SH   SOLE 1 15,216 0 0
WHITE MTNS INS GROUP LTD COM G9618E107 202 320 SH   SOLE 1 320 0 0
TRANSOCEAN LTD REG SHS H8817H100 2,327 126,927 SH   SOLE 1 126,927 0 0