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
ACADIA HEALTHCARE CO INC com 00404A109 4,005 121,113 SH   SOLE   53,097 0 68,016
AGREE REALTY CORP. com 008492100 1,551 52,529 SH   SOLE   8,217 0 44,312
ALTISOURCE PORTFOLIO SOL com L0175J104 1,803 19,120 SH   SOLE   3,053 0 16,067
AMERICAN CAPITAL LTD. com 02503Y103 186 14,700 SH   SOLE   4,600 0 10,100
AMERIS BANCORP com 03076K108 2,652 157,369 SH   SOLE   85,900 0 71,469
ARRIS GROUP INC com 04270V106 2,570 179,071 SH   SOLE   96,243 0 82,828
AZZ INC. com 002474104 1,336 34,653 SH   SOLE   6,500 0 28,153
BALLY TECHNOLOGIES INC. com 05874B107 4,007 71,024 SH   SOLE   35,043 0 35,981
BERKLEY W R CORP COM com 084423102 270 6,600 SH   SOLE   2,200 0 4,400
BERRY PLASTICS GROUP INC. com 08579W103 1,533 69,456 SH   SOLE   12,656 0 56,800
BIG 5 SPORTING GOODS CORP. com 08915P101 935 42,606 SH   SOLE   6,632 0 35,974
BIOMED RLTY TR INC com 09063H107 301 14,900 SH   SOLE   5,200 0 9,700
BOB EVANS FARMS INC. com 096761101 2,506 53,332 SH   SOLE   29,774 0 23,558
BROWN SHOE CO. INC. com 115736100 1,903 88,400 SH   SOLE   15,400 0 73,000
CALIX INC com 13100M509 884 87,500 SH   SOLE   13,700 0 73,800
CENTER BANCORP INC. com 151408101 1,588 125,175 SH   SOLE   20,175 0 105,000
CIT GROUP INC com 125581801 212 4,555 SH   SOLE   1,554 0 3,001
CLECO CORP NEW COM com 12561W105 1,349 29,051 SH   SOLE   4,866 0 24,185
CMS ENERGY CORP COM com 125896100 253 9,300 SH   SOLE   3,100 0 6,200
COMMUNITY HEALTH SYSTEMS INC com 203668108 1,233 26,300 SH   SOLE   24,200 0 2,100
COOPER COS. com 216648402 238 2,000 SH   SOLE   700 0 1,300
DECKERS OUTDOOR CORP. com 243537107 1,551 30,700 SH   SOLE   5,600 0 25,100
DELTIC TIMBER CORP. com 247850100 1,097 18,965 SH   SOLE   3,057 0 15,908
DELUXE CORP. com 248019101 1,964 56,683 SH   SOLE   25,843 0 30,840
DRESSER-RAND GROUP INC com 261608103 210 3,500 SH   SOLE   1,200 0 2,300
EAGLE BANCORP INC. (MARYLAND) com 268948106 1,124 50,221 SH   SOLE   7,868 0 42,353
EL PASO ELECTRIC CO. com 283677854 1,342 37,994 SH   SOLE   6,469 0 31,525
ELIZABETH ARDEN INC. com 28660G106 2,370 52,627 SH   SOLE   8,300 0 44,327
EPLUS INC. com 294268107 510 8,516 SH   SOLE   1,303 0 7,213
ETHAN ALLEN INTERIORS INC. com 297602104 856 29,728 SH   SOLE   5,452 0 24,276
FAIRCHILD SEMICONDUCTOR INTL com 303726103 1,394 101,030 SH   SOLE   15,800 0 85,230
FIRST REPUBLIC BANK/CA com 33616C100 250 6,500 SH   SOLE   2,200 0 4,300
FLY LEASING LTD. com 34407D109 225 13,377 SH   SOLE   2,017 0 11,360
FOOT LOCKER INC com 344849104 1,570 44,700 SH   SOLE   37,400 0 7,300
FORUM ENERGY TECHNOLOGIES IN com 34984V100 1,358 44,618 SH   SOLE   8,100 0 36,518
GENESCO INC COM com 371532102 1,583 23,628 SH   SOLE   4,241 0 19,387
GEO GROUP INC com 36159R103 2,799 82,433 SH   SOLE   40,313 0 42,120
GLOBAL POWER EQUIPMENT GROUP com 37941P306 1,106 68,633 SH   SOLE   10,792 0 57,841
GNC HOLDINGS INC-CL A com 36191G107 1,248 28,231 SH   SOLE   26,000 0 2,231
GP STRATEGIES CORP. com 36225V104 1,086 45,608 SH   SOLE   7,059 0 38,549
GRAPHIC PACKAGING HOLDING CO. com 388689101 2,009 259,507 SH   SOLE   125,572 0 133,935
HAIN CELESTIAL GROUP INC. com 405217100 3,803 58,499 SH   SOLE   27,665 0 30,834
HEALTHSOUTH CORP. com 421924309 1,325 46,015 SH   SOLE   8,165 0 37,850
HEARTWARE INTERNATIONAL INC com 422368100 1,138 11,968 SH   SOLE   2,100 0 9,868
HERTZ GLOBAL HOLDINGS INC. com 42805T105 1,475 59,489 SH   SOLE   50,800 0 8,689
HILLTOP HOLDINGS INC. com 432748101 1,830 111,601 SH   SOLE   20,201 0 91,400
HOME LOAN SERVICING SOLUTION com G6648D109 1,303 54,375 SH   SOLE   9,874 0 44,501
HORNBECK OFFSHORE SERVICES INC com 440543106 2,463 46,034 SH   SOLE   26,250 0 19,784
HOWARD HUGHES CORP com 44267D107 2,006 17,900 SH   SOLE   15,800 0 2,100
INNOSPEC INC. com 45768S105 946 23,539 SH   SOLE   4,090 0 19,449
INTEREPUBLIC GROUP OF COMPANIE com 460690100 420 28,900 SH   SOLE   9,900 0 19,000
INVESTORS BANCORP INC. com 46146P102 2,007 95,194 SH   SOLE   14,953 0 80,241
JONES GROUP INC. com 48020T101 3,771 274,277 SH   SOLE   125,500 0 148,777
KAISER ALUMINUM CORP. com 483007704 1,572 25,372 SH   SOLE   4,700 0 20,672
KIRBY CORP com 497266106 1,821 22,900 SH   SOLE   20,200 0 2,700
KNIGHT TRANSPORTATION INC. com 499064103 2,155 128,099 SH   SOLE   67,549 0 60,550
LAZARD LTD - CL A com G54050102 222 6,900 SH   SOLE   2,500 0 4,400
M/I HOMES INC. com 55305B101 1,320 57,484 SH   SOLE   10,400 0 47,084
MAIDEN HOLDINGS LTD. com G5753U112 3,634 323,861 SH   SOLE   146,200 0 177,661
MANHATTAN ASSOCIATES INC. com 562750109 1,278 16,569 SH   SOLE   3,004 0 13,565
MEADOWBROOK INSURANCE GROUP IN com 58319P108 1,624 202,184 SH   SOLE   31,700 0 170,484
MEDASSETS INC. com 584045108 1,263 71,200 SH   SOLE   12,900 0 58,300
MICROS SYSTEMS INC. com 594901100 1,341 31,073 SH   SOLE   28,700 0 2,373
MYR GROUP INC. com 55405W104 998 51,288 SH   SOLE   9,226 0 42,062
NATIONSTAR MORTGAGE HOLDINGS com 63861C109 3,522 94,065 SH   SOLE   45,524 0 48,541
NETSCOUT SYSTEMS INC. com 64115T104 894 38,308 SH   SOLE   5,973 0 32,335
NORTHWESTERN CORP com 668074305 1,407 35,261 SH   SOLE   5,500 0 29,761
NUANCE COMMUNICATIONS INC com 67020Y100 1,516 82,500 SH   SOLE   71,400 0 11,100
OCWEN FINANCIAL CORP. com 675746309 1,819 44,133 SH   SOLE   38,933 0 5,200
OFG BANCORP com 67103X102 1,819 100,459 SH   SOLE   15,700 0 84,759
OMNIAMERICAN BANCORP INC. com 68216R107 2,125 96,450 SH   SOLE   17,521 0 78,929
ON SEMICONDUCTOR CORP com 682189105 165 20,400 SH   SOLE   7,000 0 13,400
ORITANI FINANCIAL CORP. com 68633D103 1,939 123,632 SH   SOLE   19,324 0 104,308
PACWEST BANCORP. com 695263103 1,158 37,785 SH   SOLE   5,919 0 31,866
PARK-OHIO HOLDINGS CORP com 700666100 450 13,650 SH   SOLE   2,107 0 11,543
PDC ENERGY INC com 69327R101 1,004 19,506 SH   SOLE   3,600 0 15,906
PERFORMANT FINANCIAL CORP com 71377E105 3,238 279,346 SH   SOLE   134,417 0 144,929
PHH CORP com 693320202 2,987 146,583 SH   SOLE   73,192 0 73,391
RAIT FINANCIAL TRUST com 749227609 1,641 218,216 SH   SOLE   34,200 0 184,016
REX ENERGY CORP COM com 761565100 1,529 86,968 SH   SOLE   16,958 0 70,010
RPX CORP com 74972G103 673 40,072 SH   SOLE   6,300 0 33,772
RYDER SYSTEM INC com 783549108 2,521 41,478 SH   SOLE   7,703 0 33,775
SKECHERS USA INC. (CL A) com 830566105 3,864 160,914 SH   SOLE   71,684 0 89,230
SNAP ON INC com 833034101 224 2,505 SH   SOLE   859 0 1,646
SPECTRUM BRANDS HOLDINGS INC. com 84763R101 3,440 60,492 SH   SOLE   31,307 0 29,185
SS&C TECHNOLOGIES HOLDINGS com 78467J100 2,003 60,890 SH   SOLE   11,000 0 49,890
STAG INDUSTRIAL INC. com 85254J102 2,426 121,579 SH   SOLE   21,316 0 100,263
SUMMIT HOTEL PROPERTIES INC. com 866082100 1,517 160,511 SH   SOLE   22,672 0 137,839
SYNNEX CORP. com 87162W100 1,256 29,713 SH   SOLE   5,400 0 24,313
TEXTAINER GROUP HOLDINGS LTD. com G8766E109 694 18,052 SH   SOLE   3,001 0 15,051
TITAN INTERNATIONAL INC. com 88830M102 838 49,697 SH   SOLE   7,700 0 41,997
TOWER GROUP INC. com G8988C105 3,202 156,127 SH   SOLE   81,300 0 74,827
TRONOX LTD com Q9235V101 2,326 115,449 SH   SOLE   56,226 0 59,223
TUESDAY MORNING CORP. com 899035505 1,036 99,888 SH   SOLE   15,800 0 84,088
TWO HARBORS INVESTMENT CORP com 90187B101 184 18,000 SH   SOLE   6,200 0 11,800
UNITIL CORP. com 913259107 1,552 53,727 SH   SOLE   9,700 0 44,027
US SILICA HOLDINGS INC com 90346E103 1,132 54,489 SH   SOLE   8,862 0 45,627
WALTER INVESTMENT MANAGEMENT C com 93317W102 1,242 36,749 SH   SOLE   5,800 0 30,949
WAUSAU PAPER CORP. com 943315101 4,670 409,689 SH   SOLE   192,600 0 217,089
WNS HOLDINGS LTD - ADR com 92932M101 1,777 106,467 SH   SOLE   19,807 0 86,660