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 9,063 148,062 SH   SOLE   23,588 0 124,474
ADEPTUS HEALTH INC. - CLASS A CL A 006855100 209 5,600 SH   SOLE   5,600 0 0
AIR TRANSPORT SERVICES GROUP I COM 00922R105 134 15,700 SH   SOLE   15,700 0 0
ALAMO GROUP INC. COM 011311107 1,444 29,800 SH   SOLE   4,908 0 24,892
ALEXANDER & BALDWIN INC. COM 014491104 4,392 111,880 SH   SOLE   26,590 0 85,290
ALLETE INC. COM NEW 018522300 4,643 84,200 SH   SOLE   7,529 0 76,671
AMERICAN CAMPUS COMMUNITIES IN COM 024835100 6,214 150,240 SH   SOLE   31,581 0 118,659
AMERICAN CAPITAL LTD. COM 02503Y103 4,263 291,779 SH   SOLE   27,200 0 264,579
AMERIS BANCORP COM 03076K108 2,266 88,360 SH   SOLE   16,654 0 71,706
AMERISAFE INC. COM 03071H100 1,919 45,300 SH   SOLE   7,000 0 38,300
APOLLO RESIDENTIAL MORTGAGE COM 03763V102 1,658 105,150 SH   SOLE   20,400 0 84,750
ARRIS GROUP INC COM 04270V106 2,036 67,451 SH   SOLE   6,500 0 60,951
GALLAGHER ARTHUR J & CO COM 363576109 6,464 137,305 SH   SOLE   13,150 0 124,155
ASSOCIATED ESTATES REALTY CORP COM 045604105 7,250 312,371 SH   SOLE   60,258 0 252,113
BANK UNITED INC COM 06652K103 7,863 271,412 SH   SOLE   52,450 0 218,962
BANNER CORP. COM NEW 06652V208 1,788 41,565 SH   SOLE   6,722 0 34,843
BERKSHIRE HILLS BANCORP INC. COM 084680107 2,714 101,800 SH   SOLE   15,050 0 86,750
BROWN SHOE CO. INC. COM 115736100 2,516 78,250 SH   SOLE   5,900 0 72,350
BRUNSWICK CORP. COM 117043109 6,225 121,449 SH   SOLE   26,800 0 94,649
CALIFORNIA WATER SERVICE GROUP COM 130788102 1,485 60,350 SH   SOLE   4,550 0 55,800
CELADON GROUP INC COM 150838100 1,487 65,550 SH   SOLE   11,800 0 53,750
CHARLES RIVER LABORATORIES, IN COM 159864107 7,114 111,789 SH   SOLE   18,836 0 92,953
CHATHAM LODGING TRUST COM 16208T102 4,638 160,085 SH   SOLE   19,369 0 140,716
CLUBCORP HOLDINGS INC COM 18948M108 7,021 391,604 SH   SOLE   68,220 0 323,384
CMS ENERGY CORP COM COM 125896100 2,835 81,575 SH   SOLE   8,200 0 73,375
COBIZ FINANCIAL INC COM 190897108 226 17,200 SH   SOLE   17,200 0 0
COMFORT SYSTEMS USA INC. COM 199908104 174 10,150 SH   SOLE   10,150 0 0
CONNECTONE BANCORP INC COM 20786W107 256 13,450 SH   SOLE   13,450 0 0
CONSOL ENERGY INC. COM 20854P109 2,635 77,921 SH   SOLE   7,600 0 70,321
COOPER COS. COM NEW 216648402 4,647 28,668 SH   SOLE   6,296 0 22,372
COVANTA HOLDING CORP. COM 22282E102 3,736 169,750 SH   SOLE   17,700 0 152,050
DELEK US HOLDINGS INC. COM 246647101 1,226 44,950 SH   SOLE   3,430 0 41,520
DIXIE GROUP INC. CL A 255519100 143 15,600 SH   SOLE   15,600 0 0
EAGLE BANCORP INC. (MARYLAND) COM 268948106 2,322 65,374 SH   SOLE   10,575 0 54,799
EAST WEST BANCORP INC COM COM 27579R104 1,881 48,595 SH   SOLE   4,950 0 43,645
ENERSYS INC. COM 29275Y102 4,096 66,366 SH   SOLE   5,955 0 60,411
ENTRAVISION COMMUNICATIONS- A CL A 29382R107 124 19,200 SH   SOLE   19,200 0 0
ETHAN ALLEN INTERIORS INC. COM 297602104 1,651 53,325 SH   SOLE   9,134 0 44,191
EVERCORE PARTNERS INC CL A CLASS A 29977A105 8,001 152,770 SH   SOLE   13,887 0 138,883
EVINE LIVE INC. CL A 300487105 170 25,750 SH   SOLE   25,750 0 0
EXA CORP. COM 300614500 139 11,850 SH   SOLE   11,850 0 0
EXTRA SPACE STORAGE INC. COM 30225T102 4,471 76,250 SH   SOLE   7,300 0 68,950
FERRO CORP. COM 315405100 1,364 105,250 SH   SOLE   8,000 0 97,250
FIRST NBC BANK HOLDINGS CO. COM 32115D106 1,776 50,463 SH   SOLE   10,298 0 40,165
FIRST REPUBLIC BANK/CA COM 33616C100 4,632 88,878 SH   SOLE   22,028 0 66,850
FOOT LOCKER INC COM 344849104 4,166 74,149 SH   SOLE   7,100 0 67,049
FORMFACTOR INC. COM 346375108 115 13,400 SH   SOLE   13,400 0 0
FOX CHASE BANCORP INC. COM 35137T108 183 11,000 SH   SOLE   11,000 0 0
G & K SVCS INC CL A 361268105 3,309 46,700 SH   SOLE   3,550 0 43,150
GAIAM INC CL A 36268Q103 142 19,850 SH   SOLE   19,850 0 0
GENESEE + WYOMING INC-CL A CL A 371559105 4,121 45,831 SH   SOLE   11,600 0 34,231
GEO GROUP INC COM 36162J106 6,459 160,025 SH   SOLE   14,725 0 145,300
GP STRATEGIES CORP. COM 36225V104 4,487 132,253 SH   SOLE   20,059 0 112,194
GRAMERCY PROPERTY TRUST INC COM 38489R100 4,426 641,501 SH   SOLE   205,216 0 436,285
GRAPHIC PACKAGING HOLDING CO. COM 388689101 11,686 858,030 SH   SOLE   141,603 0 716,427
HANOVER INS GROUP INC COM 410867105 5,546 77,768 SH   SOLE   16,584 0 61,184
HCC INS HLDGS INC COM 404132102 6,109 114,139 SH   SOLE   10,650 0 103,489
HEALTHSOUTH CORP. COM NEW 421924309 4,149 107,876 SH   SOLE   9,850 0 98,026
HELEN OF TROY CORP. COM G4388N106 9,063 139,300 SH   SOLE   12,500 0 126,800
HERITAGE OAKS BANCORP. COM 42724R107 199 23,700 SH   SOLE   23,700 0 0
HFF INC CL A 40418F108 6,876 191,425 SH   SOLE   17,160 0 174,265
HOWARD HUGHES CORP COM 44267D107 4,604 35,305 SH   SOLE   9,501 0 25,804
HURON CONSULTING GROUP INC. COM 447462102 7,798 114,023 SH   SOLE   20,512 0 93,511
IGATE CORP. COM 45169U105 790 20,000 SH   SOLE   1,509 0 18,491
INNERWORKINGS INC. COM 45773Y105 165 21,150 SH   SOLE   21,150 0 0
INVESTORS BANCORP INC. COM 46146L101 4,708 419,382 SH   SOLE   42,100 0 377,282
IRIDIUM COMMUNICATIONS INC. COM 46269C102 166 17,000 SH   SOLE   17,000 0 0
JARDEN CORP COM 471109108 8,087 168,899 SH   SOLE   31,776 0 137,123
KAPSTONE PAPER & PACKAGING COR COM 48562P103 1,945 66,350 SH   SOLE   5,025 0 61,325
KNOLL INC. COM NEW 498904200 3,265 154,225 SH   SOLE   10,989 0 143,236
LADDER CAPITAL CORP-CLASS A CL A 505743104 2,487 126,800 SH   SOLE   9,600 0 117,200
LIFEPOINT HOSPS INC COM 53219L109 4,268 59,350 SH   SOLE   5,300 0 54,050
LKQ CORP. COM 501889208 4,594 163,356 SH   SOLE   39,834 0 123,522
MANHATTAN ASSOCIATES INC. COM 562750109 9,536 234,187 SH   SOLE   38,412 0 195,775
MARINEMAX INC. COM 567908108 1,879 93,725 SH   SOLE   16,600 0 77,125
MARRIOTT VACATIONS WORLD COM 57164Y107 3,183 42,700 SH   SOLE   3,250 0 39,450
MAXIMUS INC. COM 577933104 1,710 31,175 SH   SOLE   2,200 0 28,975
MEMORIAL RESOURCE DEVELOPMENT COM 58605Q109 2,599 144,150 SH   SOLE   13,950 0 130,200
MERCER INTERNATIONAL INC. COM 588056101 1,220 99,250 SH   SOLE   19,773 0 79,477
MICHAELS COS INC. COM 59408Q106 2,729 110,350 SH   SOLE   10,700 0 99,650
MICROSEMI CORP. COM 595137100 1,155 40,700 SH   SOLE   3,100 0 37,600
MUELLER INDUSTRIES INC. COM 624756102 5,861 171,679 SH   SOLE   15,284 0 156,395
NETSCOUT SYSTEMS INC. COM 64115T104 3,971 108,676 SH   SOLE   9,622 0 99,054
ON SEMICONDUCTOR CORP COM 682189105 2,094 206,686 SH   SOLE   20,250 0 186,436
PACWEST BANCORP. COM 695263103 3,744 82,368 SH   SOLE   24,331 0 58,037
PARK-OHIO HOLDINGS CORP COM 700666100 1,906 30,244 SH   SOLE   4,733 0 25,511
PATTERN ENERGY GROUP INC. CL A 70338P100 4,153 168,407 SH   SOLE   15,082 0 153,325
PEBBLEBROOK HOTEL TRUST COM 70509V100 4,109 90,050 SH   SOLE   8,112 0 81,938
PENNYMAC MORTGAGE INVESTMENT T COM 70931T103 1,314 62,309 SH   SOLE   4,736 0 57,573
PERFICIENT INC. COM 71375U101 1,878 100,800 SH   SOLE   19,250 0 81,550
PHYSICIANS REALTY TRUST COM 71943U104 4,974 299,615 SH   SOLE   80,865 0 218,750
PINNACLE WEST CAPITAL COM 723484101 3,176 46,497 SH   SOLE   4,650 0 41,847
PLEXUS CORP. COM 729132100 2,359 57,250 SH   SOLE   21,750 0 35,500
PORTLAND GENERAL ELECTRIC CORP COM NEW 736508847 5,230 138,250 SH   SOLE   12,700 0 125,550
PRIVATEBANCORP INC. COM 742962103 2,467 73,850 SH   SOLE   5,600 0 68,250
QUANTA SERVICES INC. COM 74762E102 2,120 74,687 SH   SOLE   7,250 0 67,437
R.R. DONNELLEY & SONS CO. COM 257867101 3,673 218,575 SH   SOLE   21,800 0 196,775
RAIT FINANCIAL TRUST COM NEW 749227609 1,425 185,753 SH   SOLE   14,062 0 171,691
RLJ LODGING TR COM 74965L101 3,548 105,825 SH   SOLE   10,550 0 95,275
ROCK-TENN CO. (CL A) CL A 772739207 5,749 94,284 SH   SOLE   22,709 0 71,575
RTI INTL METALS INC COM 74973W107 1,736 68,725 SH   SOLE   10,575 0 58,150
RUTH'S HOSPITALITY GROUP INC. COM 783332109 181 12,050 SH   SOLE   12,050 0 0
RYERSON HOLDING CORP. COM 783754104 148 14,950 SH   SOLE   14,950 0 0
SHOE CARNIVAL INC. COM 824889109 2,236 87,025 SH   SOLE   12,420 0 74,605
SIGNATURE BANK COM 82669G104 2,834 22,497 SH   SOLE   2,200 0 20,297
SIGNET JEWELERS LTD. SHS G81276100 6,374 48,446 SH   SOLE   9,843 0 38,603
SILGAN HOLDINGS INC. COM 827048109 4,339 80,950 SH   SOLE   7,250 0 73,700
SJW CORP. COM 784305104 2,137 66,543 SH   SOLE   12,777 0 53,766
SKECHERS USA INC. (CL A) CL A 830566105 3,481 63,000 SH   SOLE   4,510 0 58,490
SOLARWINDS INC COM 83416B109 5,940 119,200 SH   SOLE   10,550 0 108,650
SOUTH STATE CORP COM 840441109 1,710 25,496 SH   SOLE   1,963 0 23,533
SPECTRUM BRANDS HOLDINGS INC. COM 84763R101 8,184 85,534 SH   SOLE   18,083 0 67,451
SS&C TECHNOLOGIES HOLDINGS COM 78467J100 5,290 90,443 SH   SOLE   20,733 0 69,710
STAG INDUSTRIAL INC. COM 85254J102 5,816 237,400 SH   SOLE   21,572 0 215,828
SYNCHRONOSS TECHNOLOGIES INC. COM 87157B103 1,101 26,300 SH   SOLE   1,825 0 24,475
SYNNEX CORP. COM 87162W100 9,285 118,794 SH   SOLE   20,887 0 97,907
TCP CAPITAL CORP. COM 87238Q103 1,534 91,403 SH   SOLE   13,175 0 78,228
TEAM HEALTH HOLDINGS INC. COM 87817A107 3,340 58,050 SH   SOLE   5,650 0 52,400
TECHTARGET INC. COM 87874R100 185 16,250 SH   SOLE   16,250 0 0
TELEFLEX INCORPORATED COM 879369106 7,160 62,362 SH   SOLE   13,850 0 48,512
TERRENO REALTY CORP. COM 88146M101 2,433 117,950 SH   SOLE   18,850 0 99,100
THE PROVIDENCE SERVICE CORP. COM 743815102 1,781 48,888 SH   SOLE   8,855 0 40,033
TRINITY INDUSTRIES INC COM 896522109 4,226 150,875 SH   SOLE   37,500 0 113,375
TUESDAY MORNING CORP. COM NEW 899035505 7,230 333,190 SH   SOLE   57,803 0 275,387
TWO HARBORS INVESTMENT CORP COM 90187B101 4,325 431,652 SH   SOLE   112,120 0 319,532
VERIFONE SYS INC COM 92342Y109 3,051 82,020 SH   SOLE   7,850 0 74,170
VOXX INTL CORP CL A 91829F104 171 19,550 SH   SOLE   19,550 0 0
WABASH NATIONAL CORP COM 929566107 2,102 170,025 SH   SOLE   15,600 0 154,425
WADDELL & REED FINANCIAL, INC CL A 930059100 8,179 164,172 SH   SOLE   32,514 0 131,658
WEBSTER FINANCIAL CORP. COM 947890109 2,630 80,850 SH   SOLE   6,150 0 74,700
WESTERN REFINING INC. COM 959319104 1,884 49,855 SH   SOLE   4,395 0 45,460
WESTMORELAND COAL CO. COM 960878106 2,005 60,375 SH   SOLE   12,663 0 47,712
XL GROUP PLC SHS G98290102 2,743 79,800 SH   SOLE   7,700 0 72,100