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 4,855 106,699 SH   SOLE   37,650 0 69,049
ADTRAN INC COM COM 00738A106 2,144 95,025 SH   SOLE   3,450 0 91,575
AGREE REALTY CORP. COM 008492100 1,490 49,288 SH   SOLE   1,783 0 47,505
ALAMO GROUP INC. COM 011311107 2,043 37,775 SH   SOLE   3,183 0 34,592
ALLETE INC. COM NEW 018522300 5,816 113,270 SH   SOLE   12,376 0 100,894
ALLSCRIPTS HEALTHCARE SOLUTION COM 01988P108 2,856 177,938 SH   SOLE   69,988 0 107,950
AMERICAN CAMPUS COMMUNITIES IN COM 024835100 3,480 91,009 SH   SOLE   14,150 0 76,859
AMERICAN CAPITAL LTD. COM 02503Y103 4,526 295,996 SH   SOLE   108,067 0 187,929
AMERIS BANCORP COM 03076K108 1,616 74,960 SH   SOLE   5,054 0 69,906
APOLLO RESIDENTIAL MORTGAGE COM 03763V102 1,431 85,575 SH   SOLE   3,100 0 82,475
ARRIS GROUP INC COM 04270V106 3,926 120,686 SH   SOLE   49,260 0 71,426
GALLAGHER ARTHUR J & CO COM 363576109 4,560 97,862 SH   SOLE   32,707 0 65,155
ASSOCIATED ESTATES REALTY CORP COM 045604105 1,448 80,350 SH   SOLE   2,950 0 77,400
AVISTA CORP. COM 05379B107 2,548 76,025 SH   SOLE   5,050 0 70,975
BANK UNITED INC COM 06652K103 2,635 78,718 SH   SOLE   11,157 0 67,561
BANNER CORP. COM NEW 06652V208 1,453 36,665 SH   SOLE   1,322 0 35,343
BLACK DIAMOND INC. COM 09202G101 171 15,241 SH   SOLE   6,029 0 9,212
BLOOMIN BRANDS INC COM 094235108 2,044 91,111 SH   SOLE   14,078 0 77,033
BRUNSWICK CORP. COM 117043109 2,840 67,399 SH   SOLE   8,950 0 58,449
CALIFORNIA WATER SERVICE GROUP COM 130788102 2,684 110,900 SH   SOLE   4,050 0 106,850
CHARLES RIVER LABORATORIES, IN COM 159864107 6,129 114,510 SH   SOLE   10,632 0 103,878
CHATHAM LODGING TRUST COM 16208T102 1,849 84,418 SH   SOLE   3,144 0 81,274
CHICAGO BRIDGE & IRON NY COM 167250109 1,934 28,351 SH   SOLE   4,381 0 23,970
CIRCOR INTL INC COM COM 17273K109 2,158 27,975 SH   SOLE   990 0 26,985
CLUBCORP HOLDINGS INC COM 18948M108 2,776 149,709 SH   SOLE   5,400 0 144,309
COBIZ FINANCIAL INC COM 190897108 1,507 139,913 SH   SOLE   5,056 0 134,857
CONSOL ENERGY INC. COM 20854P109 2,687 58,328 SH   SOLE   9,100 0 49,228
COOPER COS. COM NEW 216648402 3,875 28,590 SH   SOLE   11,448 0 17,142
DUKE REALTY CORP. COM NEW 264411505 3,181 175,190 SH   SOLE   23,300 0 151,890
EAGLE BANCORP INC. (MARYLAND) COM 268948106 2,077 61,549 SH   SOLE   2,250 0 59,299
EAGLE MATERIALS INC COM 26969P108 4,776 50,653 SH   SOLE   18,770 0 31,883
EAST WEST BANCORP INC COM COM 27579R104 3,092 88,370 SH   SOLE   11,750 0 76,620
ENERSYS INC. COM 29275Y102 4,626 67,241 SH   SOLE   7,370 0 59,871
ENNIS INC. COM 293389102 1,336 87,527 SH   SOLE   3,186 0 84,341
ETHAN ALLEN INTERIORS INC. COM 297602104 6,433 260,043 SH   SOLE   52,495 0 207,548
EVERBANK FINANCIAL CORP. COM 29977G102 1,562 77,492 SH   SOLE   2,750 0 74,742
EVERCORE PARTNERS INC CL A CLASS A 29977A105 7,701 133,603 SH   SOLE   32,570 0 101,033
FEDERAL AGRICULTURAL MORTGAGE CL C 313148306 1,123 36,137 SH   SOLE   1,329 0 34,808
FIDELITY & GAURANTY LIFE COM 315785105 1,723 71,975 SH   SOLE   2,600 0 69,375
FINISH LINE INC. (CL A) CL A 317923100 2,164 72,777 SH   SOLE   2,650 0 70,127
FIRST NBC BANK HOLDINGS CO. COM 32115D106 1,684 50,257 SH   SOLE   1,817 0 48,440
FOOT LOCKER INC COM 344849104 2,641 52,074 SH   SOLE   8,100 0 43,974
GENERAC HOLDINGS INC. COM 368736104 2,154 44,200 SH   SOLE   6,950 0 37,250
GENESEE + WYOMING INC-CL A CL A 371559105 3,520 33,522 SH   SOLE   14,761 0 18,761
GOODRICH PETROLEUM CORP. COM NEW 382410405 2,776 100,597 SH   SOLE   10,700 0 89,897
GP STRATEGIES CORP. COM 36225V104 6,565 253,671 SH   SOLE   69,352 0 184,319
GRAMERCY PROPERTY TRUST INC COM 38489R100 5,122 846,635 SH   SOLE   265,431 0 581,204
GRAPHIC PACKAGING HOLDING CO. COM 388689101 7,830 669,227 SH   SOLE   166,205 0 503,022
GULFPORT ENERGY CORP. COM NEW 402635304 1,644 26,178 SH   SOLE   4,091 0 22,087
H&E EQUIPMENT SERVICES INC. COM 404030108 967 26,604 SH   SOLE   956 0 25,648
H.B. FULLER CO. COM 359694106 4,529 94,155 SH   SOLE   28,850 0 65,305
HANOVER INS GROUP INC COM 410867105 8,055 127,559 SH   SOLE   32,400 0 95,159
HAYNES INTERNATIONAL INC. COM NEW 420877201 1,433 25,325 SH   SOLE   936 0 24,389
HCC INS HLDGS INC COM 404132102 3,491 71,339 SH   SOLE   8,900 0 62,439
HEALTHSOUTH CORP. COM NEW 421924309 2,542 70,876 SH   SOLE   9,400 0 61,476
HELEN OF TROY CORP. COM G4388N106 3,795 62,593 SH   SOLE   6,110 0 56,483
HOME LOAN SERVICING SOLUTION ORD SHS G6648D109 1,981 87,162 SH   SOLE   3,229 0 83,933
HOWARD HUGHES CORP COM 44267D107 6,851 43,409 SH   SOLE   16,580 0 26,829
INTEGRYS ENERGY GROUP INC COM 45822P105 2,034 28,600 SH   SOLE   3,800 0 24,800
INTL RECTIFIER CORP. COM 460254105 1,931 69,225 SH   SOLE   2,550 0 66,675
INVESTORS BANCORP INC. COM 46146L101 5,998 542,814 SH   SOLE   149,429 0 393,385
JARDEN CORP COM 471109108 2,008 33,825 SH   SOLE   4,500 0 29,325
JONES ENERGY INC COM CL A 48019R108 1,208 58,925 SH   SOLE   2,121 0 56,804
KEY ENERGY SERVICES INC COM COM 492914106 1,341 146,750 SH   SOLE   11,150 0 135,600
KINDRED HEALTHCARE INC. COM 494580103 1,250 54,130 SH   SOLE   1,972 0 52,158
KNOLL INC. COM NEW 498904200 1,968 113,550 SH   SOLE   7,889 0 105,661
LAREDO PETROLEUM INC. COM 516806106 1,807 58,312 SH   SOLE   9,050 0 49,262
LIBERTY PROPERTY TRUST SH BEN INT 531172104 3,548 93,535 SH   SOLE   14,300 0 79,235
LITHIA MOTORS INC. (CL A) CL A 536797103 2,919 31,026 SH   SOLE   11,118 0 19,908
LKQ CORP. COM 501889208 3,857 144,505 SH   SOLE   54,358 0 90,147
MARINEMAX INC. COM 567908108 1,994 119,125 SH   SOLE   4,300 0 114,825
MAXIMUS INC. COM 577933104 1,969 45,775 SH   SOLE   3,150 0 42,625
MEDASSETS INC. COM 584045108 5,130 224,603 SH   SOLE   63,596 0 161,007
MGIC INVESTMENT CORP. COM 552848103 5,256 568,863 SH   SOLE   51,400 0 517,463
MICROS SYSTEMS INC. COM 594901100 1,345 19,812 SH   SOLE   4,950 0 14,862
MISTRAS GROUP INC COM 60649T107 1,326 54,068 SH   SOLE   2,003 0 52,065
MRC GLOBAL INC. COM 55345K103 4,422 156,296 SH   SOLE   14,392 0 141,904
MUELLER INDUSTRIES INC. COM 624756102 4,278 145,461 SH   SOLE   15,566 0 129,895
NETSCOUT SYSTEMS INC. COM 64115T104 6,690 150,876 SH   SOLE   14,293 0 136,583
NMI HOLDINGS INC. CL A 629209305 968 92,168 SH   SOLE   3,343 0 88,825
NORTHWESTERN CORP COM NEW 668074305 4,048 77,558 SH   SOLE   12,019 0 65,539
ON SEMICONDUCTOR CORP COM 682189105 3,126 342,015 SH   SOLE   147,879 0 194,136
OXFORD INDUSTRIES INC. COM 691497309 4,212 63,181 SH   SOLE   19,996 0 43,185
PACWEST BANCORP. COM 695263103 3,383 78,374 SH   SOLE   34,487 0 43,887
PARK-OHIO HOLDINGS CORP COM 700666100 2,154 37,069 SH   SOLE   1,383 0 35,686
PATTERN ENERGY GROUP INC. CL A 70338P100 7,217 217,957 SH   SOLE   56,732 0 161,225
PDC ENERGY INC COM 69327R101 2,304 36,481 SH   SOLE   3,351 0 33,130
PENNYMAC MORTGAGE INVESTMENT T COM 70931T103 1,275 58,109 SH   SOLE   2,061 0 56,048
PINNACLE WEST CAPITAL COM 723484101 3,132 54,147 SH   SOLE   7,200 0 46,947
POLYONE CORP. COM 73179P106 287 6,816 SH   SOLE   2,702 0 4,114
POWELL INDUSTRIES INC. COM 739128106 2,146 32,820 SH   SOLE   1,231 0 31,589
QUANTA SERVICES INC. COM 74762E102 4,431 128,145 SH   SOLE   47,558 0 80,587
RAIT FINANCIAL TRUST COM NEW 749227609 1,434 173,453 SH   SOLE   6,287 0 167,166
REX ENERGY CORP COM COM 761565100 1,215 68,620 SH   SOLE   4,799 0 63,821
SHOE CARNIVAL INC. COM 824889109 1,170 56,650 SH   SOLE   2,050 0 54,600
SIGNATURE BANK COM 82669G104 3,792 30,051 SH   SOLE   4,450 0 25,601
SIGNET JEWELERS LTD. SHS G81276100 4,919 44,480 SH   SOLE   18,852 0 25,628
SPECTRUM BRANDS HOLDINGS INC. COM 84763R101 4,344 50,491 SH   SOLE   7,805 0 42,686
SS&C TECHNOLOGIES HOLDINGS COM 78467J100 5,116 115,701 SH   SOLE   37,966 0 77,735
STAG INDUSTRIAL INC. COM 85254J102 5,768 240,249 SH   SOLE   65,476 0 174,773
STARWOOD PROPERTY TRUST INC. COM 85571B105 3,167 133,230 SH   SOLE   20,100 0 113,130
SYNNEX CORP. COM 87162W100 9,965 136,783 SH   SOLE   30,545 0 106,238
TCP CAPITAL CORP. COM 87238Q103 2,460 135,078 SH   SOLE   4,400 0 130,678
TELEFLEX INCORPORATED COM 879369106 2,162 20,476 SH   SOLE   3,154 0 17,322
TERRENO REALTY CORP. COM 88146M101 1,886 97,575 SH   SOLE   3,550 0 94,025
TESCO CORP COM 88157K101 3,707 173,722 SH   SOLE   15,950 0 157,772
TETRA TECHNOLOGIES INC. COM 88162F105 3,019 256,272 SH   SOLE   28,065 0 228,207
THE PROVIDENCE SERVICE CORP. COM 743815102 2,197 60,057 SH   SOLE   2,230 0 57,827
TRISTATE CAPITAL HOLDINGS COM 89678F100 1,117 79,080 SH   SOLE   2,800 0 76,280
TRW AUTOMOTIVE HOLDINGS CORP COM 87264S106 2,352 26,278 SH   SOLE   4,079 0 22,199
TUESDAY MORNING CORP. COM NEW 899035505 5,905 331,388 SH   SOLE   73,357 0 258,031
TWO HARBORS INVESTMENT CORP COM 90187B101 1,949 185,982 SH   SOLE   25,000 0 160,982
UMPQUA HOLDINGS CORP. COM 904214103 2,049 114,361 SH   SOLE   15,200 0 99,161
UNITED RENTALS INC. COM 911363109 5,417 51,720 SH   SOLE   17,587 0 34,133
UNIVERSAL HEALTH SERVICES-B CL B 913903100 4,687 48,942 SH   SOLE   17,918 0 31,024
VERIFONE SYS INC COM 92342Y109 2,683 73,004 SH   SOLE   11,284 0 61,720
WABCO HOLDINGS INC COM 92927K102 2,049 19,179 SH   SOLE   3,009 0 16,170
WADDELL & REED FINANCIAL, INC CL A 930059100 4,782 76,399 SH   SOLE   25,916 0 50,483
WAUSAU PAPER CORP. COM 943315101 2,656 245,480 SH   SOLE   95,830 0 149,650
WORTHINGTON INDUSTRIES INC. COM 981811102 3,805 88,410 SH   SOLE   9,450 0 78,960