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
AETNA INC COM 00817Y108 603 4,940 SH   SOLE   0 0 4,940
AFLAC INC COM 001055102 1,454 20,143 SH   SOLE   2,500 0 17,643
AMERICAN I COM 026874784 606 11,453 SH   SOLE   2,400 0 9,053
ANTHEM INC COM 036752103 565 4,304 SH   SOLE   0 0 4,304
ARCHER-DAN COM 039483102 838 19,530 SH   SOLE   4,100 0 15,430
ASPEN INSU COM G05384105 575 12,400 SH   SOLE   0 0 12,400
ASSURANT I COM 04621X108 770 8,927 SH   SOLE   1,800 0 7,127
BANK OF AM COM 060505104 535 40,300 SH   SOLE   0 0 40,300
BANK OF MO COM 063671101 485 7,650 SH   SOLE   7,400 0 250
BANK OF NO COM 064149107 2,487 50,742 SH   SOLE   10,600 0 40,142
BED BATH & COM 075896100 1,134 26,240 SH   SOLE   3,000 0 23,240
BROCADE CO COM 111621306 1,176 128,103 SH   SOLE   0 0 128,103
CAL-MAINE COM 128030202 612 13,801 SH   SOLE   2,991 0 10,810
CAN IMPERI COM 136069101 2,316 30,846 SH   SOLE   6,000 0 24,846
CAPITAL ON COM 14040H105 700 11,020 SH   SOLE   2,200 0 8,820
CELESTICA COM 15101Q108 1,772 190,528 SH   SOLE   0 0 190,528
CGI GROUP COM 39945C109 1,815 42,500 SH   SOLE   0 0 42,500
CISCO SYST COM 17275R102 634 22,092 SH   SOLE   0 0 22,092
CUMMINS IN COM 231021106 1,383 12,299 SH   SOLE   1,600 0 10,699
DANA HOLDI COM 235825205 477 45,200 SH   SOLE   11,000 0 34,200
DELUXE COR COM 248019101 765 11,522 SH   SOLE   2,600 0 8,922
DEUTSCHE B COM D18190898 4,321 314,702 SH   SOLE   0 0 314,702
DILLARDS I COM 254067101 1,117 18,434 SH   SOLE   2,200 0 16,234
DOMTAR COR COM 257559203 539 15,400 SH   SOLE   0 0 15,400
EMC CORP/M COM 268648102 631 23,210 SH   SOLE   0 0 23,210
EMERSON EL COM 291011104 632 12,115 SH   SOLE   0 0 12,115
ENCANA COR COM 292505104 3,735 479,400 SH   SOLE   86,600 0 392,800
EURONAV NV COM B38564108 1,184 129,116 SH   SOLE   0 0 129,116
EVERCORE P COM 29977A105 513 11,600 SH   SOLE   0 0 11,600
EVEREST RE COM G3223R108 645 3,530 SH   SOLE   0 0 3,530
FLEXTRONIC COM Y2573F102 1,218 103,194 SH   SOLE   13,894 0 89,300
FLUOR CORP COM 343412102 784 15,900 SH   SOLE   3,300 0 12,600
FOOT LOCKE COM 344849104 585 10,671 SH   SOLE   0 0 10,671
FOSSIL GRO COM 34988V106 424 14,849 SH   SOLE   4,449 0 10,400
GENERAL MO COM 37045V100 1,143 40,400 SH   SOLE   4,600 0 35,800
GILEAD SCI COM 375558103 1,030 12,347 SH   SOLE   0 0 12,347
HARLEY-DAV COM 412822108 521 11,510 SH   SOLE   0 0 11,510
HEWLETT PA COM 42824C109 915 50,062 SH   SOLE   10,576 0 39,486
HILLENBRAN COM 431571108 541 18,000 SH   SOLE   0 0 18,000
HOLLYFRONT COM 436106108 252 10,600 SH   SOLE   0 0 10,600
HP INC COM 40434L105 547 43,560 SH   SOLE   0 0 43,560
INTERNATIO COM 460146103 565 13,334 SH   SOLE   0 0 13,334
INTL BUSIN COM 459200101 768 5,059 SH   SOLE   1,000 0 4,059
JACOBS ENG COM 469814107 812 16,300 SH   SOLE   3,600 0 12,700
KOHLS CORP COM 500255104 1,190 31,377 SH   SOLE   2,800 0 28,577
KT CORP-SP ADR 48268K101 579 40,600 SH   SOLE   0 0 40,600
LINCOLN NA COM 534187109 1,155 29,800 SH   SOLE   3,200 0 26,600
LOGITECH I COM H50430232 5,038 309,489 SH   SOLE   21,037 0 288,452
LYONDELLBA COM N53745100 1,134 15,233 SH   SOLE   1,800 0 13,433
MACY'S INC COM 55616P104 1,059 31,500 SH   SOLE   0 0 31,500
MAGNA INTE COM 559222401 2,774 79,090 SH   SOLE   11,200 0 67,890
MANULIFE F COM 56501R106 833 60,900 SH   SOLE   0 0 60,900
MARATHON P COM 56585A102 1,283 33,800 SH   SOLE   3,200 0 30,600
MCKESSON C COM 58155Q103 598 3,204 SH   SOLE   0 0 3,204
METLIFE IN COM 59156R108 1,103 27,695 SH   SOLE   3,300 0 24,395
MICHAEL KO COM G60754101 928 18,748 SH   SOLE   3,700 0 15,048
MICRON TEC COM 595112103 1,225 89,000 SH   SOLE   0 0 89,000
MYLAN NV COM N59465109 730 16,879 SH   SOLE   2,800 0 14,079
NATIONAL O COM 637071101 808 24,000 SH   SOLE   4,700 0 19,300
NETAPP INC COM 64110D104 1,271 51,702 SH   SOLE   6,102 0 45,600
PARKER HAN COM 701094104 787 7,280 SH   SOLE   1,500 0 5,780
POTASH COR COM 73755L107 1,343 82,713 SH   SOLE   26,513 0 56,200
PRUDENTIAL COM 744320102 1,170 16,400 SH   SOLE   2,000 0 14,400
QUALCOMM I COM 747525103 1,087 20,300 SH   SOLE   0 0 20,300
QUANTA SER COM 74762E102 1,383 59,800 SH   SOLE   7,600 0 52,200
RALPH LAUR COM 751212101 433 4,827 SH   SOLE   0 0 4,827
REINSURANC COM 759351604 1,483 15,295 SH   SOLE   1,700 0 13,595
RELIANCE S COM 759509102 940 12,222 SH   SOLE   2,600 0 9,622
SANDERSON COM 800013104 1,239 14,298 SH   SOLE   0 0 14,298
SCRIPPS NE COM 811065101 598 9,600 SH   SOLE   0 0 9,600
SHAW COMMU COM 82028K200 467 24,300 SH   SOLE   24,300 0 0
SOUTHWEST COM 844741108 1,161 29,600 SH   SOLE   3,400 0 26,200
STAPLES IN COM 855030102 622 72,100 SH   SOLE   0 0 72,100
SUN LIFE F COM 866796105 1,845 56,200 SH   SOLE   0 0 56,200
TECH DATA COM 878237106 1,221 17,000 SH   SOLE   0 0 17,000
TECK RESOU COM 878742204 2,984 226,585 SH   SOLE   136,800 0 89,785
TEGNA INC COM 87901J105 600 25,895 SH   SOLE   0 0 25,895
TERADATA C COM 88076W103 1,184 47,224 SH   SOLE   6,124 0 41,100
TIMKEN CO COM 887389104 209 6,805 SH   SOLE   5,500 0 1,305
TORONTO-DO COM 891160509 446 10,400 SH   SOLE   10,400 0 0
UBS GROUP COM H42097107 4,277 330,006 SH   SOLE   0 0 330,006
UNITED THE COM 91307C102 540 5,100 SH   SOLE   0 0 5,100
UNUM GROUP COM 91529Y106 671 21,100 SH   SOLE   4,700 0 16,400
VALERO ENE COM 91913Y100 1,079 21,160 SH   SOLE   2,000 0 19,160
VIACOM INC COM 92553P201 631 15,210 SH   SOLE   3,400 0 11,810
WAL-MART S COM 931142103 1,285 17,600 SH   SOLE   0 0 17,600
WESTERN DI COM 958102105 1,356 28,692 SH   SOLE   2,600 0 26,092
WESTERN UN COM 959802109 730 38,070 SH   SOLE   8,200 0 29,870
XEROX CORP COM 984121103 607 64,000 SH   SOLE   0 0 64,000