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
POLYCOM INC COM 73172K104 164,619 13,400 SH   SOLE   13,400 0 0
ACCO BRANDS CORP COM 00081T108 80,040 11,600 SH   SOLE   11,600 0 0
ENERGY TRANSFER PARTNERS LP COM 29273R109 253,720 3,965 SH   SOLE   3,965 0 0
HUDSON CITY BANCORP INC COM 443683107 132,192 13,600 SH   SOLE   13,600 0 0
STARWOOD WAYPOINT RESIDE COM 85571W109 201,395 7,743 SH   SOLE   7,743 0 0
CARRIZO OIL & GAS INC COM 144577103 215,280 4,000 SH   SOLE   4,000 0 0
LORILLARD INC COM 544147101 251,622 4,200 SH   SOLE   4,200 0 0
WELLS FARGO & CO COM 949746101 404,586 7,800 SH   SOLE   7,800 0 0
MERITOR INC COM 59001K100 150,815 13,900 SH   SOLE   13,900 0 0
BANK OF AMERICA CORP COM 060505104 351,230 20,600 SH   SOLE   20,600 0 0
CISCO SYSTEMS INC COM 17275R102 402,720 16,000 SH   SOLE   16,000 0 0
KOHLS CORP COM 500255104 213,605 3,500 SH   SOLE   3,500 0 0
CBS OUTDOOR AMERICAS INC COM 14987J106 389,220 13,000 SH   SOLE   13,000 0 0
HOME DEPOT INC COM 437076102 247,698 2,700 SH   SOLE   2,700 0 0
LIBERTY MEDIA CORP - A COM 531229102 495,390 10,500 SH   SOLE   10,500 0 0
SPIRIT AEROSYSTEMS HOLD-CL A COM 848574109 213,136 5,600 SH   SOLE   5,600 0 0
COMERICA INC-CW18 WTS 200340115 3,813,392 184,400 SH   SOLE   184,400 0 0
APOLLO INVESTMENT CORP COM 03761U106 96,406 11,800 SH   SOLE   11,800 0 0
SPDR S&P 500 ETF TRUST ETF 78462F103 394,040 2,000 SH   SOLE   2,000 0 0
NOW INC COM 67011P100 206,027 6,775 SH   SOLE   6,775 0 0
JPMORGAN CHASE & CO COM 46625H100 433,728 7,200 SH   SOLE   7,200 0 0
PGT INC COM 69336V101 161,236 17,300 SH   SOLE   17,300 0 0
PNC FINANCIAL SERVICES-CW18 WTS 693475121 4,243,579 185,674 SH   SOLE   185,674 0 0
ENTERPRISE PRODUCTS PARTNERS COM 293792107 218,103 5,412 SH   SOLE   5,412 0 0
GLU MOBILE INC COM 379890106 151,481 29,300 SH   SOLE   29,300 0 0
TRIANGLE PETROLEUM CORP COM 89600B201 191,574 17,400 SH   SOLE   17,400 0 0
RIGHTSIDE GROUP LTD COM 76658B100 97,704 10,021 SH   SOLE   10,021 0 0
DEERE & CO COM 244199105 344,358 4,200 SH   SOLE   4,200 0 0
ASSURANT INC COM 04621X108 205,760 3,200 SH   SOLE   3,200 0 0
SUPERIOR ENERGY SERVICES INC COM 868157108 210,368 6,400 SH   SOLE   6,400 0 0
BLACKROCK MUNICIPAL TARGET ETF 09257P105 1,079,040 54,305 SH   SOLE   54,305 0 0
CHIMERA INVESTMENT CORP COM 16934Q109 851,200 280,000 SH   SOLE   280,000 0 0
CALLON PETROLEUM CO COM 13123X102 167,390 19,000 SH   SOLE   19,000 0 0
STILLWATER MINING CO COM 86074Q102 165,330 11,000 SH   SOLE   11,000 0 0
JAZZ PHARMACEUTICALS PLC COM 472147107 240,840 1,500 SH   SOLE   1,500 0 0
TECH DATA CORP COM 878237106 211,896 3,600 SH   SOLE   3,600 0 0
ACTAVIS PLC COM 00507K103 225,596 935 SH   SOLE   935 0 0
NUVEEN MORT OPPORT TERM FD ETF 670735109 245,100 10,320 SH   SOLE   10,320 0 0
ABRAXAS PETROLEUM CORP COM 003830106 200,112 37,900 SH   SOLE   37,900 0 0
INVESCO AD MIT II ETF 46132E103 168,651 14,820 SH   SOLE   14,820 0 0
TCF FINANCIAL CORP-CW18 WTS 872275128 395,108 144,200 SH   SOLE   144,200 0 0
CAPITAL ONE FINANCIAL C-CW18 WTS 14040H139 1,001,000 25,000 SH   SOLE   25,000 0 0
ALLIANCE RESOURCE PARTNERS COM 01877R108 239,904 5,600 SH   SOLE   5,600 0 0
JETBLUE AIRWAYS CORP COM 477143101 201,780 19,000 SH   SOLE   19,000 0 0
REINSURANCE GROUP OF AMERICA COM 759351604 216,351 2,700 SH   SOLE   2,700 0 0
AETNA INC COM 00817Y108 247,860 3,060 SH   SOLE   3,060 0 0
ON SEMICONDUCTOR CORP COM 682189105 162,708 18,200 SH   SOLE   18,200 0 0
AMKOR TECHNOLOGY INC COM 031652100 172,405 20,500 SH   SOLE   20,500 0 0
CITIGROUP INC COM 172967424 295,374 5,700 SH   SOLE   5,700 0 0
WASHINGTON PRIME GROUP COM 939647103 321,632 18,400 SH   SOLE   18,400 0 0
UNITED STATES STEEL CORP COM 912909108 274,190 7,000 SH   SOLE   7,000 0 0
BGC PARTNERS INC-CL A COM 05541T101 85,445 11,500 SH   SOLE   11,500 0 0
GASTAR EXPLORATION LTD COM 36729W202 222,473 37,900 SH   SOLE   37,900 0 0
NEWPARK RESOURCES INC COM 651718504 140,572 11,300 SH   SOLE   11,300 0 0
LEAR CORP COM 521865204 207,384 2,400 SH   SOLE   2,400 0 0
BALL CORP COM 058498106 215,118 3,400 SH   SOLE   3,400 0 0
PENNYMAC MORTGAGE INVESTMENT COM 70931T103 214,300 10,000 SH   SOLE   10,000 0 0
BOOZ ALLEN HAMILTON HOLDINGS COM 099502106 250,380 10,700 SH   SOLE   10,700 0 0
SANMINA CORP COM 801056102 214,858 10,300 SH   SOLE   10,300 0 0
JOHNSON CONTROLS INC COM 478366107 255,200 5,800 SH   SOLE   5,800 0 0
VISHAY INTERTECHNOLOGY INC COM 928298108 165,764 11,600 SH   SOLE   11,600 0 0
ARROW ELECTRONICS INC COM 042735100 232,470 4,200 SH   SOLE   4,200 0 0
AMERICAN INTERNATIONAL GROUP COM 026874784 205,276 3,800 SH   SOLE   3,800 0 0
TEXTRON INC COM 883203101 233,935 6,500 SH   SOLE   6,500 0 0
CIGNA CORP COM 125509109 208,587 2,300 SH   SOLE   2,300 0 0
INVESCO MORTGAGE CAPITAL COM 46131B100 254,664 16,200 SH   SOLE   16,200 0 0
NUVEEN INT DUR MUNI TERM FD ETF 670671106 683,917 54,845 SH   SOLE   54,845 0 0
SANOFI CVR COM 80105N113 35,247 75,800 SH   SOLE   75,800 0 0
TWENTY-FIRST CENTURY FOX - B COM 90130A200 4,663,400 140,000 SH   SOLE   140,000 0 0
QIWI PLC-SPONSORED ADR COM 74735M108 202,176 6,400 SH   SOLE   6,400 0 0
FIFTH STREET FINANCE CORP COM 31678A103 106,488 11,600 SH   SOLE   11,600 0 0
TIME WARNER CABLE COM 88732J207 200,886 1,400 SH   SOLE   1,400 0 0
NORANDA ALUMINUM HOLDING COR COM 65542W107 98,084 21,700 SH   SOLE   21,700 0 0
GOOGLE INC-CL C COM 38259P706 11,231,961 19,454 SH   SOLE   19,454 0 0
EMERALD OIL INC COM 29101U209 128,535 20,900 SH   SOLE   20,900 0 0
HCA HOLDINGS INC COM 40412C101 338,496 4,800 SH   SOLE   4,800 0 0
LIBERTY MEDIA CORP - C COM 531229300 1,340,436 28,526 SH   SOLE   28,526 0 0
RF MICRO DEVICES INC COM 749941100 713,172 61,800 SH   SOLE   61,800 0 0
UNITED RENTALS INC COM 911363109 222,200 2,000 SH   SOLE   2,000 0 0
BLACKHAWK NETWORK HD-B COM 09238E203 433,046 13,407 SH   SOLE   13,407 0 0
CELANESE CORP-SERIES A COM 150870103 263,340 4,500 SH   SOLE   4,500 0 0
GLOBAL CASH ACCESS HOLDINGS COM 378967103 137,025 20,300 SH   SOLE   20,300 0 0
INTEL CORP COM 458140100 243,740 7,000 SH   SOLE   7,000 0 0
XEROX CORP COM 984121103 235,030 17,765 SH   SOLE   17,765 0 0
FAIRCHILD SEMICONDUCTOR INTE COM 303726103 212,761 13,700 SH   SOLE   13,700 0 0
HUNTINGTON BANCSHARES INC COM 446150104 116,760 12,000 SH   SOLE   12,000 0 0
BLACKROCK MUNIHOLDINGS QU II ETF 09254C107 167,062 12,580 SH   SOLE   12,580 0 0
SYNERGY RESOURCES CORP COM 87164P103 176,755 14,500 SH   SOLE   14,500 0 0
VALLEY NATIONAL BANCORP-CW18 WTS 919794131 19,000 76,000 SH   SOLE   76,000 0 0
ALASKA AIR GROUP INC COM 011659109 200,284 4,600 SH   SOLE   4,600 0 0
ULTRA CLEAN HOLDINGS INC COM 90385V107 112,770 12,600 SH   SOLE   12,600 0 0
MGIC INVESTMENT CORP COM 552848103 86,691 11,100 SH   SOLE   11,100 0 0
SOUTHWEST AIRLINES CO COM 844741108 202,620 6,000 SH   SOLE   6,000 0 0
COMCAST CORP-SPECIAL CL A COM 20030N200 2,140,000 40,000 SH   SOLE   40,000 0 0
WARREN RESOURCES INC COM 93564A100 119,250 22,500 SH   SOLE   22,500 0 0
TOKYO ELECTRON LTD-UNSP ADR COM 889110102 211,900 13,000 SH   SOLE   13,000 0 0
MICRON TECHNOLOGY INC COM 595112103 219,264 6,400 SH   SOLE   6,400 0 0
BROCADE COMMUNICATIONS SYS COM 111621306 172,833 15,900 SH   SOLE   15,900 0 0
TRW AUTOMOTIVE HOLDINGS CORP COM 87264S106 344,250 3,400 SH   SOLE   3,400 0 0
WABASH NATIONAL CORP COM 929566107 142,524 10,700 SH   SOLE   10,700 0 0
SYMMETRY MEDICAL INC COM 871546206 104,936 10,400 SH   SOLE   10,400 0 0
HEALTH NET INC COM 42222G108 322,770 7,000 SH   SOLE   7,000 0 0
ASHLAND INC COM 044209104 218,610 2,100 SH   SOLE   2,100 0 0
DILLARDS INC-CL A COM 254067101 217,960 2,000 SH   SOLE   2,000 0 0
ACTIVISION BLIZZARD INC COM 00507V109 249,480 12,000 SH   SOLE   12,000 0 0
TENNECO INC COM 880349105 277,243 5,300 SH   SOLE   5,300 0 0
TRAVELERS COS INC/THE COM 89417E109 272,426 2,900 SH   SOLE   2,900 0 0
TYSON FOODS INC-CL A COM 902494103 212,598 5,400 SH   SOLE   5,400 0 0
PERFECT WORLD CO-SPON ADR COM 71372U104 200,838 10,200 SH   SOLE   10,200 0 0
ISHARES NATIONAL AMT-FREE MU ETF 464288414 756,064 6,894 SH   SOLE   6,894 0 0
BROADCOM CORP-CL A COM 111320107 210,184 5,200 SH   SOLE   5,200 0 0
EMULEX CORP COM 292475209 94,354 19,100 SH   SOLE   19,100 0 0
SELECT MEDICAL HOLDINGS CORP COM 816196109 164,811 13,700 SH   SOLE   13,700 0 0
WELLPOINT INC COM 94973V107 299,050 2,500 SH   SOLE   2,500 0 0