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
3M CO COMMON 88579Y101 1,317 16,900 SH   SOLE 1 16,900 0 0
ABAXIS INC COMMON 002567105 237 12,320 SH   SOLE 1 12,320 0 0
ABERCROMBIE & FITCH CO-CL A COMMON 002896207 1,016 14,595 SH   SOLE 1 14,595 0 0
ACCENTURE LIMITED COMMON G1150G111 1,764 47,775 SH   SOLE 1 47,775 0 0
ACTUANT CORP-CL A COMMON 00508X203 158 3,335 SH   SOLE 1 3,335 0 0
ADAMS RESPIRATORY THERA INC COMMON 00635P107 286 7,025 SH   SOLE 1 7,025 0 0
ADC TELECOMMUNICATION COMMON 000886309 2,459 169,256 SH   SOLE 1 169,256 0 0
ADMINISTAFF INC COMMON 007094105 441 10,333 SH   SOLE 1 10,333 0 0
ADOBE SYS INCORP COMMON 00724F101 995 24,200 SH   SOLE 1 24,200 0 0
ADVANCED ENERGY INDUSTRIES COMMON 007973100 500 26,536 SH   SOLE 1 26,536 0 0
AEROFLEX INC COMMON 007768104 177 15,150 SH   SOLE 1 15,150 0 0
AEROPOSTALE INC COMMON 007865108 352 11,420 SH   SOLE 1 11,420 0 0
AETNA INC NEW COMMON 00817Y108 1,877 43,475 SH   SOLE 1 43,475 0 0
AIR PRODUCTS & CHEMICALS INC. COMMON 009158106 1,280 18,220 SH   SOLE 1 18,220 0 0
ABX AIR INC COMMON 00922R105 227 32,900 SH   SOLE 1 32,900 0 0
ALBANY MOLECULAR RESEARCH COMMON 012423109 367 34,835 SH   SOLE 1 34,835 0 0
ALCOA INC COMMON 013817101 1,265 42,168 SH   SOLE 1 42,168 0 0
ALCON INC COMMON H01301102 499 4,470 SH   SOLE 1 4,470 0 0
ALLSTATE CORP. COMMON 020002101 337 5,190 SH   SOLE 1 5,190 0 0
ALON USA ENERGY INC COMMON 020520102 120 4,580 SH   SOLE 1 4,580 0 0
ALTERA CORPORATION COMMON 021441100 1,864 94,740 SH   SOLE 1 94,740 0 0
ALTIRIS INC COMMON 02148M100 241 9,505 SH   SOLE 1 9,505 0 0
ALTRIA GROUP INC COMMON 02209S103 1,680 19,581 SH   SOLE 1 19,581 0 0
AMBAC FINANCIAL GROUP INC COMMON 023139108 1,438 16,145 SH   SOLE 1 16,145 0 0
AMEDISYS INC COMMON 023436108 3,381 102,864 SH   SOLE 1 102,864 0 0
AMERICAN CAPITAL STRATEGIES COMMON 02503Y103 1,266 27,370 SH   SOLE 1 27,370 0 0
AMERICAN EAGLE OUTFITTERS COMMON 02553E106 2,757 88,367 SH   SOLE 1 88,367 0 0
AMERICAN FINANCIAL GROUP INC COMMON 025932104 180 5,040 SH   SOLE 1 5,040 0 0
AMERICAN INTERNATIONAL GROUP COMMON 026874784 3,288 45,890 SH   SOLE 1 45,890 0 0
AMERICAN WOODMARK COMMON 030506109 396 9,485 SH   SOLE 1 9,485 0 0
AMERISOURCEBERGEN CORP COMMON 03073E105 29 650 SH   SOLE 1 650 0 0
AMERISTAR CASINOS INC COMMON 03070Q101 2,475 80,543 SH   SOLE 1 80,543 0 0
AMGEN COMMON 031162100 2,967 43,440 SH   SOLE 1 43,440 0 0
AMN HEALTHCARE SERVICES COMMON 001744101 278 10,130 SH   SOLE 1 10,130 0 0
AMPHENOL CORP-CL A COMMON 032095101 23 380 SH   SOLE 1 380 0 0
ANADARKO PETROLEUM CORP. COMMON 032511107 630 14,480 SH   SOLE 1 14,480 0 0
ANALOG DEVICES INC. COMMON 032654105 1,001 30,460 SH   SOLE 1 30,460 0 0
ANDERSONS INC/THE COMMON 034164103 1,302 30,730 SH   SOLE 1 30,730 0 0
ANDREW CORP. COMMON 034425108 171 16,805 SH   SOLE 1 16,805 0 0
ANN TAYLOR COMMON 035623107 144 4,410 SH   SOLE 1 4,410 0 0
WELLPOINT INC. COMMON 036752103 974 12,385 SH   SOLE 1 12,385 0 0
APPLE INC. COMMON 037833100 1,585 18,685 SH   SOLE 1 18,685 0 0
APPLERA CORP-APPLIED COMMON 038149100 1,385 37,765 SH   SOLE 1 37,765 0 0
APPLIED INDUSTRIAL TECHNOLOGY COMMON 03820C105 2,466 93,765 SH   SOLE 1 93,765 0 0
APTARGROUP INC. COMMON 038336103 2,685 45,480 SH   SOLE 1 45,480 0 0
ARBITRON INC COMMON 03875Q108 187 4,311 SH   SOLE 1 4,311 0 0
ARKANSAS BEST CO. COMMON 03937C105 140 3,895 SH   SOLE 1 3,895 0 0
ARCHER DANIELS MIDLAND CO. COMMON 039483102 198 6,220 SH   SOLE 1 6,220 0 0
ARRIS GROUP INC COMMON 04270V106 262 20,957 SH   SOLE 1 20,957 0 0
ARROW ELECTRONICS INC COMMON 042735100 185 5,895 SH   SOLE 1 5,895 0 0
ARTHROCARE CORP COMMON 043136100 165 4,135 SH   SOLE 1 4,135 0 0
ASSURANT INC COMMON 04621X108 1,838 33,285 SH   SOLE 1 33,285 0 0
ASTA FUNDING INC COMMON 046220109 262 8,635 SH   SOLE 1 8,635 0 0
AT&T INC COMMON 00206R102 2,446 68,438 SH   SOLE 1 68,438 0 0
AUTODESK INC COMMON 052769106 1,048 25,905 SH   SOLE 1 25,905 0 0
AUTOZONE INC COMMON 053332102 1,798 15,560 SH   SOLE 1 15,560 0 0
AVAYA INC COMMON 053499109 24 1,760 SH   SOLE 1 1,760 0 0
AVIS BUDGET GROUP INC COMMON 053774105 8 377 SH   SOLE 1 377 0 0
AVNET INC. COMMON 053807103 209 8,200 SH   SOLE 1 8,200 0 0
AVOCENT CORPORATION COMMON 053893103 2,490 73,588 SH   SOLE 1 73,588 0 0
AVX CORP. COMMON 002444107 131 8,900 SH   SOLE 1 8,900 0 0
AXIS CAPITAL HOLDINGS LTD COMMON G0692U109 485 14,550 SH   SOLE 1 14,550 0 0
BE AEROSPACE INC. COMMON 073302101 2,654 103,380 SH   SOLE 1 103,380 0 0
BAKER HUGHES INC. COMMON 057224107 1,257 16,840 SH   SOLE 1 16,840 0 0
BANK OF AMERICA CORP COMMON 060505104 2,378 44,545 SH   SOLE 1 44,545 0 0
BANK OF NEW YORK COMMON 064057102 944 24,000 SH   SOLE 1 24,000 0 0
BANKNORTH GROUP INC COMMON 06646R107 68 2,675 SH   SOLE 1 2,675 0 0
BANKUNITED FINANCIAL CORP-A COMMON 06652B103 165 5,930 SH   SOLE 1 5,930 0 0
BARCLAYS PLC ADR ADR 06738E204 510 8,782 SH   SOLE 1 8,782 0 0
BASIC ENERGY SERVICES INC COMMON 06985P100 197 8,018 SH   SOLE 1 8,018 0 0
BEA SYSTEMS INC COMMON 073325102 734 58,425 SH   SOLE 1 58,425 0 0
BEAR STEARNS COS. INC. COMMON 073902108 1,211 7,440 SH   SOLE 1 7,440 0 0
BECTON DICKINSON & CO. COMMON 075887109 1,496 21,330 SH   SOLE 1 21,330 0 0
BENCHMARK ELECTRONICS COMMON 08160H101 2,176 89,349 SH   SOLE 1 89,349 0 0
BEST BUY CO. INC. COMMON 086516101 208 4,245 SH   SOLE 1 4,245 0 0
BHP LIMITED - SPONS ADR ADR 088606108 939 23,630 SH   SOLE 1 23,630 0 0
BIOGEN IDEC INC COMMON 09062X103 237 4,825 SH   SOLE 1 4,825 0 0
BJ SERVICES CO. COMMON 055482103 3,552 121,155 SH   SOLE 1 121,155 0 0
BOEING CO. COMMON 097023105 1,589 17,892 SH   SOLE 1 17,892 0 0
BRADY W H CO CL A COMMON 104674106 2,152 57,731 SH   SOLE 1 57,731 0 0
BRIGHT HORIZONS FAMILY SOLUT COMMON 109194100 1,962 50,754 SH   SOLE 1 50,754 0 0
BRIGHTPOINT INC COMMON 109473405 2,584 192,193 SH   SOLE 1 192,193 0 0
BRINKER INTL. INC. COMMON 109641100 264 8,775 SH   SOLE 1 8,775 0 0
BROWN SHOE COMPANY INC COMMON 115736100 280 5,875 SH   SOLE 1 5,875 0 0
BUCYRUS INTERNATIONAL INC -A COMMON 118759109 2,538 49,052 SH   SOLE 1 49,052 0 0
BURLINGTON NORTHERN SANTA FE COMMON 12189T104 187 2,540 SH   SOLE 1 2,540 0 0
CALAMOS ASSET MANAGEMENT-A COMMON 12811R104 2,114 78,819 SH   SOLE 1 78,819 0 0
CAMDEN PROPERTY TRUST COMMON 133131102 118 1,600 SH   SOLE 1 1,600 0 0
CAMERON INTERNATIONAL CORP COMMON 13342B105 1,071 20,200 SH   SOLE 1 20,200 0 0
CAPITAL ONE FINL CORP. COMMON 14040H105 894 11,642 SH   SOLE 1 11,642 0 0
CAPITALSOURCE INC COMMON 14055X102 479 17,550 SH   SOLE 1 17,550 0 0
CARPENTER TECHNOLOGY CORP. COMMON 144285103 2,156 21,037 SH   SOLE 1 21,037 0 0
CASH AMER INTL. INC. COMMON 14754D100 217 4,645 SH   SOLE 1 4,645 0 0
CATERPILLAR INC. COMMON 149123101 485 7,914 SH   SOLE 1 7,914 0 0
CBS CORP CL B COMMON 124857202 237 7,630 SH   SOLE 1 7,630 0 0
CDW CORPORATION COMMON 12512N105 1,914 27,225 SH   SOLE 1 27,225 0 0
CEC ENTERTAINMENT INC COMMON 125137109 281 7,000 SH   SOLE 1 7,000 0 0
CELADON GROUP INC. COMMON 150838100 242 14,505 SH   SOLE 1 14,505 0 0
CENTENE CORP COMMON 15135B101 284 11,565 SH   SOLE 1 11,565 0 0
CENTURYTEL INC COMMON 156700106 1,263 28,945 SH   SOLE 1 28,945 0 0
CERADYNE INC COMMON 156710105 468 8,290 SH   SOLE 1 8,290 0 0
CH ROBINSON WORLDWIDE INC COMMON 12541W209 868 21,235 SH   SOLE 1 21,235 0 0
CHARLOTTE RUSSE HOLDING INC COMMON 161048103 388 12,637 SH   SOLE 1 12,637 0 0
CHESAPEAKE ENERGY CORP COMMON 165167107 159 5,485 SH   SOLE 1 5,485 0 0
CHEVRON CORP COMMON 166764100 1,807 24,576 SH   SOLE 1 24,576 0 0
CHILDREN'S PLACE COMMON 168905107 2,289 36,050 SH   SOLE 1 36,050 0 0
CHIPOTLE MEXICAN GRILL-CL A COMMON 169656105 188 3,306 SH   SOLE 1 3,306 0 0
CHUBB CORP. COMMON 171232101 1,185 22,415 SH   SOLE 1 22,415 0 0
CHURCH & DWIGHT INC DEL COM COMMON 171340102 1,751 41,075 SH   SOLE 1 41,075 0 0
CIGNA CORP. COMMON 125509109 1,323 10,060 SH   SOLE 1 10,060 0 0
CIRCUIT CITY STORES INC COMMON 172737108 133 7,026 SH   SOLE 1 7,026 0 0
CISCO SYSTEMS COMMON 17275R102 3,931 143,851 SH   SOLE 1 143,851 0 0
CIT GROUP INC COMMON 125581108 1,192 21,375 SH   SOLE 1 21,375 0 0
CITIGROUP INC COMMON 172967424 4,076 73,179 SH   SOLE 1 73,179 0 0
CITY BANK LYNNWOOD WA COMMON 17770A109 1,351 37,740 SH   SOLE 1 37,740 0 0
CKE RESTAURANTS INC COMMON 12561E105 2,608 141,791 SH   SOLE 1 141,791 0 0
COACH INC COMMON 189754104 1,838 42,805 SH   SOLE 1 42,805 0 0
COCA COLA CO. COMMON 191216100 1,819 37,715 SH   SOLE 1 37,715 0 0
COHU INC COMMON 192576106 1,660 82,374 SH   SOLE 1 82,374 0 0
COLGATE PALMOLIVE CO. COMMON 194162103 1,908 29,250 SH   SOLE 1 29,250 0 0
COMCAST CORP-SPECIAL CL A COMMON 20030N200 58 1,402 SH   SOLE 1 1,402 0 0
COMMSCOPE INC COMMON 203372107 2,830 92,860 SH   SOLE 1 92,860 0 0
COMPASS BANCSHARES COMMON 20449H109 65 1,100 SH   SOLE 1 1,100 0 0
COMPUTER SCIENCES CORP. COMMON 205363104 221 4,145 SH   SOLE 1 4,145 0 0
CONAGRA INC. COMMON 205887102 68 2,525 SH   SOLE 1 2,525 0 0
CONOCOPHILLIPS COMMON 20825C104 2,551 35,469 SH   SOLE 1 35,469 0 0
CONSOLIDATED GRAPHIC INC COMMON 209341106 397 6,735 SH   SOLE 1 6,735 0 0
CONSTELLATION ENERGY GROUP COMMON 210371100 1,073 15,590 SH   SOLE 1 15,590 0 0
CONVERGYS CORP COMMON 212485106 251 10,560 SH   SOLE 1 10,560 0 0
COOPER INDUSTRIES LTD CL A COMMON G24182100 1,002 11,085 SH   SOLE 1 11,085 0 0
COSTCO WHOLESALE CORP COMMON 22160K105 1,631 30,865 SH   SOLE 1 30,865 0 0
CRA INTERNATIONAL INC COMMON 12618T105 1,797 34,310 SH   SOLE 1 34,310 0 0
CRANE CO COMMON 224399105 2,696 73,589 SH   SOLE 1 73,589 0 0
CROCS INC COMMON 227046109 3,143 72,755 SH   SOLE 1 72,755 0 0
CSG SYSTEMS INTL INC COMMON 126349109 408 15,283 SH   SOLE 1 15,283 0 0
CUMMINS INC COMMON 231021106 1,968 16,660 SH   SOLE 1 16,660 0 0
CVS CORP COMMON 126650100 2,591 83,855 SH   SOLE 1 83,855 0 0
CYMER INC COMMON 232572107 2,155 49,036 SH   SOLE 1 49,036 0 0
CYTEC INDS INC. COMMON 232820100 3,173 56,162 SH   SOLE 1 56,162 0 0
DANAHER CORP COMMON 235851102 374 5,165 SH   SOLE 1 5,165 0 0
DARDEN RESTAURANTS INC. COMMON 237194105 1,763 43,909 SH   SOLE 1 43,909 0 0
DECKERS OUTDOOR CORP COMMON 243537107 315 5,255 SH   SOLE 1 5,255 0 0
DELL INC COMMON 24702R101 1,958 78,060 SH   SOLE 1 78,060 0 0
DEUTSCHE BANK AG -REG COMMON D18190898 1,333 10,008 SH   SOLE 1 10,008 0 0
DEVON ENERGY CORP COMMON 25179M103 1,088 16,220 SH   SOLE 1 16,220 0 0
DIAGEO PLC SPONSORED ADR ADR 25243Q205 966 12,186 SH   SOLE 1 12,186 0 0
DIEBOLD INC. COMMON 253651103 24 530 SH   SOLE 1 530 0 0
DIGITAL INSIGHT COMMON 25385P106 2,902 75,417 SH   SOLE 1 75,417 0 0
DIGITAL RIVER INC COMMON 25388B104 3,092 55,427 SH   SOLE 1 55,427 0 0
DIODES INC COMMON 254543101 2,894 81,574 SH   SOLE 1 81,574 0 0
WALT DISNEY CO. COMMON 254687106 1,945 56,760 SH   SOLE 1 56,760 0 0
DJ ORTHOPEDICS INC COMMON 23325G104 2,252 52,607 SH   SOLE 1 52,607 0 0
DOLLAR TREE STORES INC COMMON 256747106 84 2,805 SH   SOLE 1 2,805 0 0
DRESS BARN INC. COMMON 261570105 276 11,838 SH   SOLE 1 11,838 0 0
DTE ENERGY CO COMMON 233331107 23 495 SH   SOLE 1 495 0 0
E I DU PONT DE NEMOURS & CO. COMMON 263534109 21 450 SH   SOLE 1 450 0 0
DUKE ENERGY CORP COMMON 26441C204 1,383 41,667 SH   SOLE 1 41,667 0 0
DUN & BRADSTREET CORP NEW COMMON 26483E100 1,590 19,210 SH   SOLE 1 19,210 0 0
EAGLE TEST SYSTEMS INC COMMON 270006109 136 9,380 SH   SOLE 1 9,380 0 0
EASTMAN CHEMICAL CO. COMMON 277432100 42 725 SH   SOLE 1 725 0 0
EATON CORP. COMMON 278058102 1,388 18,480 SH   SOLE 1 18,480 0 0
ELECTRONIC DATA SYSTEMS CORP COMMON 285661104 240 8,730 SH   SOLE 1 8,730 0 0
EMBARQ CORP COMMON 29078E105 1,219 23,208 SH   SOLE 1 23,208 0 0
EMC CORP COMMON 268648102 1,535 116,330 SH   SOLE 1 116,330 0 0
EMERGENCY MEDICAL SERVICES -A COMMON 29100P102 1,610 76,770 SH   SOLE 1 76,770 0 0
EMERSON ELECTRIC CO. COMMON 291011104 2,303 52,253 SH   SOLE 1 52,253 0 0
ENERGEN CORP COMMON 29265N108 2,633 56,113 SH   SOLE 1 56,113 0 0
ENERGIZER HOLDINGS INC COMMON 29266R108 1,526 21,500 SH   SOLE 1 21,500 0 0
ENSCO INTERNATIONAL INC. COMMON 26874Q100 782 15,630 SH   SOLE 1 15,630 0 0
ENTERGY CORP. NEW COMMON 29364G103 124 1,350 SH   SOLE 1 1,350 0 0
ENTERTAINMENT PROPERTIES TR COMMON 26884U109 2,557 43,770 SH   SOLE 1 43,770 0 0
EQUITY INNS INC COMMON 294703103 2,906 182,128 SH   SOLE 1 182,128 0 0
EXPRESS SCRIPTS COMMON 302182100 615 8,600 SH   SOLE 1 8,600 0 0
EXXON MOBIL CORPORATION COMMON 30231G102 5,614 73,264 SH   SOLE 1 73,264 0 0
FAMILY DOLLAR STORES INC COMMON 307000109 362 12,360 SH   SOLE 1 12,360 0 0
FED HOME LOAN MTG CORP COMMON 313400301 486 7,171 SH   SOLE 1 7,171 0 0
FED NAT'L MTG ASSN COMMON 313586109 20 350 SH   SOLE 1 350 0 0
FEDEX CORPORATION COMMON 31428X106 1,877 17,285 SH   SOLE 1 17,285 0 0
FIRST CASH FINL SVCS INC COMMON 31942D107 365 14,140 SH   SOLE 1 14,140 0 0
FIRST COMMUNITY BANCORP /CA COMMON 31983B101 2,105 40,283 SH   SOLE 1 40,283 0 0
FIRST DATA CORP. COMMON 319963104 863 33,825 SH   SOLE 1 33,825 0 0
FIRST FED FINANCIAL CORP COMMON 337907109 2,815 42,045 SH   SOLE 1 42,045 0 0
FIRST MARBLEHEAD CORP COMMON 320771108 2,645 48,402 SH   SOLE 1 48,402 0 0
FIRSTENERGY CORP COMMON 337932107 489 8,125 SH   SOLE 1 8,125 0 0
FMC CORPORATION (NEW) COMMON 302491303 3,621 47,304 SH   SOLE 1 47,304 0 0
FOOT LOCKER INC COMMON 344849104 23 1,085 SH   SOLE 1 1,085 0 0
FOREST LABORATORIES COMMON 345838106 2,810 55,540 SH   SOLE 1 55,540 0 0
FREEPORT MCMORAN COPPER GOLD COMMON 35671D857 459 8,252 SH   SOLE 1 8,252 0 0
FREIGHTCAR AMERICA INC COMMON 357023100 604 10,901 SH   SOLE 1 10,901 0 0
FRONTIER FINANCIAL CORP COMMON 35907K105 3,072 105,115 SH   SOLE 1 105,115 0 0
GALLAGHER ARTHUR J & CO COM COMMON 363576109 27 925 SH   SOLE 1 925 0 0
GAMESTOP CORP CL A COMMON 36467W109 2,228 40,440 SH   SOLE 1 40,440 0 0
GARDNER DENVER INC COMMON 365558105 5,361 143,710 SH   SOLE 1 143,710 0 0
GENERAL CABLE CORP COMMON 369300108 370 8,480 SH   SOLE 1 8,480 0 0
GENERAL COMMUNICATION -CL A COMMON 369385109 297 18,915 SH   SOLE 1 18,915 0 0
GENERAL DYNAMICS CORP. COMMON 369550108 1,194 16,060 SH   SOLE 1 16,060 0 0
GENERAL ELECTRIC CO. COMMON 369604103 1,580 42,475 SH   SOLE 1 42,475 0 0
GENWORTH FINANCIAL INC-CL A COMMON 37247D106 950 27,780 SH   SOLE 1 27,780 0 0
GFI GROUP INC COMMON 361652209 237 3,809 SH   SOLE 1 3,809 0 0
GIANT INDUSTRIES INC COMMON 374508109 339 4,535 SH   SOLE 1 4,535 0 0
GLOBAL IMAGING SYSTEMS INC COMMON 37934A100 2,229 101,592 SH   SOLE 1 101,592 0 0
GLOBAL INDUSTRIES INC COMMON 379336100 68 5,235 SH   SOLE 1 5,235 0 0
GOLDMAN SACHS GROUP INC COMMON 38141G104 3,471 17,415 SH   SOLE 1 17,415 0 0
GOOGLE INC-CL A COMMON 38259P508 1,181 2,565 SH   SOLE 1 2,565 0 0
W W GRAINGER INC COMMON 384802104 23 335 SH   SOLE 1 335 0 0
GRANT PRIDECO INC COMMON 38821G101 538 13,550 SH   SOLE 1 13,550 0 0
GREATBATCH INC COMMON 39153L106 375 13,953 SH   SOLE 1 13,953 0 0
GREENBRIER COMPANIES INC COMMON 393657101 1,841 61,387 SH   SOLE 1 61,387 0 0
GREENHILL & CO INC COMMON 395259104 441 5,989 SH   SOLE 1 5,989 0 0
GREY WOLF INC COMMON 397888108 2,649 386,277 SH   SOLE 1 386,277 0 0
GUESS? INC COMMON 401617105 232 3,664 SH   SOLE 1 3,664 0 0
GYMBOREE CORP. COMMON 403777105 228 5,980 SH   SOLE 1 5,980 0 0
HALLIBURTON CO. COMMON 406216101 331 10,690 SH   SOLE 1 10,690 0 0
HARLEY DAVIDSON INC. COMMON 412822108 954 13,550 SH   SOLE 1 13,550 0 0
HARRIS CORP. COMMON 413875105 559 12,195 SH   SOLE 1 12,195 0 0
HARTFORD FINANCIAL SERVICES COMMON 416515104 3,744 40,135 SH   SOLE 1 40,135 0 0
HASBRO INC COMMON 418056107 249 9,165 SH   SOLE 1 9,165 0 0
HEALTHCARE SERVICE GROUP COMMON 421906108 465 16,062 SH   SOLE 1 16,062 0 0
HEALTHSPRING INC COMMON 42224N101 203 10,000 SH   SOLE 1 10,000 0 0
HELMERICH & PAYNE INC. COMMON 423452101 171 7,010 SH   SOLE 1 7,010 0 0
HESS CORPORATION COMMON 42809H107 3,145 63,455 SH   SOLE 1 63,455 0 0
HEWLETT PACKARD CORP. COMMON 428236103 4,236 102,854 SH   SOLE 1 102,854 0 0
HIGHLAND HOSPITALITY CORP COMMON 430141101 2,271 159,383 SH   SOLE 1 159,383 0 0
HOLLY CORP COMMON 436106108 2,070 40,279 SH   SOLE 1 40,279 0 0
HONEYWELL INTERNATIONAL INC COMMON 438516106 508 11,234 SH   SOLE 1 11,234 0 0
HORMEL CO COMMON 440452100 539 14,460 SH   SOLE 1 14,460 0 0
HOSPITALITY PROPERTIES TRUST COMMON 44106M102 1,180 24,830 SH   SOLE 1 24,830 0 0
HOST HOTELS & RESORTS COMMON 44107P104 581 23,693 SH   SOLE 1 23,693 0 0
HUB GROUP INC-CL A COMMON 443320106 406 14,750 SH   SOLE 1 14,750 0 0
HURON CONSULTING GROUP INC COMMON 447462102 1,930 42,580 SH   SOLE 1 42,580 0 0
ICOS CORP. COMMON 449295104 327 9,679 SH   SOLE 1 9,679 0 0
ICU MEDICAL INC COMMON 44930G107 355 8,749 SH   SOLE 1 8,749 0 0
IDEARC INC COMMON 451663108 2 97 SH   SOLE 1 97 0 0
ILLUMINA INC COMMON 452327109 249 6,335 SH   SOLE 1 6,335 0 0
IMCLONE SYSTEMS COMMON 45245W109 598 22,350 SH   SOLE 1 22,350 0 0
IMS HEALTH INC COMMON 449934108 283 10,310 SH   SOLE 1 10,310 0 0
INCO LTD COMMON 453258402 66 900 SH   SOLE 1 900 0 0
INDYMAC MORTGAGE HOLDINGS INC COMMON 456607100 518 11,480 SH   SOLE 1 11,480 0 0
INFORMATICA CORP COMMON 45666Q102 256 20,995 SH   SOLE 1 20,995 0 0
INTEL CORP COMMON 458140100 993 49,050 SH   SOLE 1 49,050 0 0
INTERDIGITAL COMMUNICATION COMMON 45867G101 2,425 72,290 SH   SOLE 1 72,290 0 0
INTERNATIONAL BUSINESS COMMON 459200101 4,885 50,284 SH   SOLE 1 50,284 0 0
INTERSIL CORP -CL A COMMON 46069S109 1,139 47,620 SH   SOLE 1 47,620 0 0
ISTAR FINANCIAL INC COMMON 45031U101 1,325 27,725 SH   SOLE 1 27,725 0 0
ITRON INC. COMMON 465741106 333 6,440 SH   SOLE 1 6,440 0 0
J & J SNACK FOODS CORP COMMON 466032109 2,519 60,851 SH   SOLE 1 60,851 0 0
JABIL CIRCUIT INC COMMON 466313103 134 5,475 SH   SOLE 1 5,475 0 0
JOHNSON & JOHNSON COMMON 478160104 3,642 55,176 SH   SOLE 1 55,176 0 0
JOHNSON CONTROLS COMMON 478366107 288 3,355 SH   SOLE 1 3,355 0 0
JONES LANG LASALLE INC COMMON 48020Q107 3,880 42,097 SH   SOLE 1 42,097 0 0
JOS A BANK CLOTHIERS INC COMMON 480838101 2,394 81,569 SH   SOLE 1 81,569 0 0
JPMORGAN CHASE & CO COMMON 46625H100 5,173 107,114 SH   SOLE 1 107,114 0 0
JUNIPER NETWORKS INC COMMON 48203R104 1,055 55,715 SH   SOLE 1 55,715 0 0
K-SWISS INC. CLASS A COMMON 482686102 178 5,801 SH   SOLE 1 5,801 0 0
KELLOGG CO. COMMON 487836108 1,744 34,850 SH   SOLE 1 34,850 0 0
KELLWOOD CO. COMMON 488044108 9 280 SH   SOLE 1 280 0 0
KENNAMETAL INC COMMON 489170100 12 220 SH   SOLE 1 220 0 0
KEYCORP - NEW COMMON 493267108 230 6,060 SH   SOLE 1 6,060 0 0
KFORCE INC COMMON 493732101 227 18,679 SH   SOLE 1 18,679 0 0
KING PHARMACEUTICALS INC COMMON 495582108 1,046 65,750 SH   SOLE 1 65,750 0 0
KLA-TENCOR CORPORATION COMMON 482480100 541 10,880 SH   SOLE 1 10,880 0 0
KNIGHT CAPITAL GROUP INC A COMMON 499005106 99 5,210 SH   SOLE 1 5,210 0 0
KNOLL INC COMMON 498904200 226 10,275 SH   SOLE 1 10,275 0 0
KOHL'S COMMON 500255104 1,583 23,135 SH   SOLE 1 23,135 0 0
KOMAG INC COMMON 500453204 304 8,035 SH   SOLE 1 8,035 0 0
KONINKLIJKE PHILIPS COMMON 500472303 831 22,115 SH   SOLE 1 22,115 0 0
KORN/FERRY INTERNATIONAL COMMON 500643200 2,815 122,620 SH   SOLE 1 122,620 0 0
KROGER CO. COMMON 501044101 2,054 89,044 SH   SOLE 1 89,044 0 0
LASALLE HOTEL PROPERTIES COMMON 517942108 2,491 54,339 SH   SOLE 1 54,339 0 0
LCA-VISION INC COMMON 501803308 2,467 71,802 SH   SOLE 1 71,802 0 0
LEHMAN BROTHERS HLDGS COMMON 524908100 1,361 17,425 SH   SOLE 1 17,425 0 0
LEXMARK INTL GROUP INC CL-A COMMON 529771107 222 3,035 SH   SOLE 1 3,035 0 0
LIBERTY MEDIA HOLD-CAP SER A COMMON 53071M302 234 2,390 SH   SOLE 1 2,390 0 0
LIFEPOINT HOSPITALS INC COMMON 53219L109 2,241 66,500 SH   SOLE 1 66,500 0 0
LIFETIME BRANDS INC COMMON 53222Q103 1,323 80,572 SH   SOLE 1 80,572 0 0
ELI LILLY & CO. COMMON 532457108 1,588 30,480 SH   SOLE 1 30,480 0 0
LINCOLN NATIONAL CORP IND COMMON 534187109 1,077 16,230 SH   SOLE 1 16,230 0 0
LITTLEFUSE COMMON 537008104 307 9,638 SH   SOLE 1 9,638 0 0
LOCKHEED MARTIN CORP. COMMON 539830109 2,730 29,659 SH   SOLE 1 29,659 0 0
LOEWS CORP. COMMON 540424108 1,007 24,284 SH   SOLE 1 24,284 0 0
LOEWS GROUP - CAROLINA GROUP COMMON 540424207 1,228 18,985 SH   SOLE 1 18,985 0 0
LONGS DRUG STORES CORP COMMON 543162101 530 12,525 SH   SOLE 1 12,525 0 0
LUFKIN INDUSTRIES INC COMMON 549764108 202 3,483 SH   SOLE 1 3,483 0 0
LYONDELL PETROCHEMICAL CO COMMON 552078107 365 14,298 SH   SOLE 1 14,298 0 0
MACK-CALI REALTY CORP COMMON 554489104 189 3,725 SH   SOLE 1 3,725 0 0
FEDERATED DEPT STORES INC. COMMON 55616P104 165 4,330 SH   SOLE 1 4,330 0 0
MAIDENFORM BRANDS INC COMMON 560305104 268 14,815 SH   SOLE 1 14,815 0 0
MANOR CARE INC COMMON 564055101 420 8,960 SH   SOLE 1 8,960 0 0
MANPOWER INC COMMON 56418H100 1,392 18,580 SH   SOLE 1 18,580 0 0
MARATHON OIL CORP COMMON 565849106 2,645 28,600 SH   SOLE 1 28,600 0 0
MARINEMAX INC COMMON 567908108 2,817 108,644 SH   SOLE 1 108,644 0 0
MARRIOTT INTERNATIONAL CL A COMMON 571903202 108 2,265 SH   SOLE 1 2,265 0 0
MASCO CORP. COMMON 574599106 58 1,975 SH   SOLE 1 1,975 0 0
MASTERCARD INC-CL A COMMON 57636Q104 255 2,590 SH   SOLE 1 2,590 0 0
MATTEL INC. COMMON 577081102 253 11,175 SH   SOLE 1 11,175 0 0
MAXIM INTEGRATED PROD INC COMMON 57772K101 230 7,515 SH   SOLE 1 7,515 0 0
MBIA INC COMMON 55262C100 1,197 16,390 SH   SOLE 1 16,390 0 0
MCCORMICK & CO. INC. COMMON 579780206 1,713 44,450 SH   SOLE 1 44,450 0 0
MCDERMOTT INTERNATIONAL INC. COMMON 580037109 1,535 30,200 SH   SOLE 1 30,200 0 0
MCDONALDS CORP. COMMON 580135101 1,061 23,945 SH   SOLE 1 23,945 0 0
MCG CAPITAL CORP COMMON 58047P107 1,238 60,930 SH   SOLE 1 60,930 0 0
MCKESSON HBOC INC COMMON 58155Q103 1,085 21,414 SH   SOLE 1 21,414 0 0
MEDCATH CORPORATION COMMON 58404W109 412 15,075 SH   SOLE 1 15,075 0 0
MEDCO HEALTH SOLUTIONS INC COMMON 58405U102 16 315 SH   SOLE 1 315 0 0
MEDICAL PROPERTIES TRUST INC COMMON 58463J304 3,243 212,020 SH   SOLE 1 212,020 0 0
MEDICINES COMPANY COMMON 584688105 147 4,640 SH   SOLE 1 4,640 0 0
PEDIATRIX MEDICAL GROUP INC COMMON 58502B106 2,481 50,747 SH   SOLE 1 50,747 0 0
MEDTRONIC INC. COMMON 585055106 1,818 33,975 SH   SOLE 1 33,975 0 0
MELLON FINANCIAL CORP COMMON 58551A108 1,130 26,810 SH   SOLE 1 26,810 0 0
MERCK & CO. INC. COMMON 58933Y105 2,007 46,035 SH   SOLE 1 46,035 0 0
MERRILL LYNCH & CO. INC. COMMON 590188108 5,630 60,481 SH   SOLE 1 60,481 0 0
METAL MANAGEMENT INC COMMON 591097209 23 620 SH   SOLE 1 620 0 0
METLIFE INC COMMON 59156R108 632 10,714 SH   SOLE 1 10,714 0 0
METTLER-TOLEDO INTERNATIONAL COMMON 592688105 2,623 33,268 SH   SOLE 1 33,268 0 0
MICROS SYSTEMS INC COMMON 594901100 2,863 54,337 SH   SOLE 1 54,337 0 0
MICROSOFT CORP. COMMON 594918104 1,161 38,900 SH   SOLE 1 38,900 0 0
MICROSTRATEGY INC. COMMON 594972408 442 3,885 SH   SOLE 1 3,885 0 0
MIDDLEBY CORP COMMON 596278101 3,179 30,372 SH   SOLE 1 30,372 0 0
MOLECULAR DEVICES CORP COMMON 60851C107 257 12,200 SH   SOLE 1 12,200 0 0
MOLEX INC. COMMON 608554101 23 750 SH   SOLE 1 750 0 0
MOLINA HEALTHCARE INC COMMON 60855R100 282 8,685 SH   SOLE 1 8,685 0 0
MORGAN STANLEY COMMON 617446448 1,462 17,955 SH   SOLE 1 17,955 0 0
MOTOROLA SOLUTIONS INC. COMMON 620076307 1,785 86,840 SH   SOLE 1 86,840 0 0
GENERAL MOTORS CORP. COMMON 62010A105 11 385 SH   SOLE 1 385 0 0
MTS SYSTEMS CORP COMMON 553777103 2,031 52,605 SH   SOLE 1 52,605 0 0
MUELLER INDS INC. COMMON 624756102 165 5,210 SH   SOLE 1 5,210 0 0
NAVIGATORS GROUP INC COMMON 638904102 244 5,080 SH   SOLE 1 5,080 0 0
NAVISTAR INTERNATIONAL COMMON 63934E108 327 9,810 SH   SOLE 1 9,810 0 0
NBTY INC COMMON 628782104 12 290 SH   SOLE 1 290 0 0
NCI BUILDING SYSTEMS INC COMMON 628852105 301 5,835 SH   SOLE 1 5,835 0 0
NETFLIX INC COMMON 64110L106 245 9,490 SH   SOLE 1 9,490 0 0
NETGEAR INC COMMON 64111Q104 2,674 101,900 SH   SOLE 1 101,900 0 0
NEUROMETRIX INC COMMON 641255104 148 9,975 SH   SOLE 1 9,975 0 0
NII HOLDINGS INC-CL B COMMON 62913F201 897 13,924 SH   SOLE 1 13,924 0 0
NIKE INC CL B COMMON 654106103 1,111 11,225 SH   SOLE 1 11,225 0 0
NOKIA CORP SPONSORED ADR ADR 654902204 904 44,525 SH   SOLE 1 44,525 0 0
NORDSON CORP. COMMON 655663102 301 6,045 SH   SOLE 1 6,045 0 0
NORDSTROM INC. COMMON 655664100 2,602 52,746 SH   SOLE 1 52,746 0 0
NORTHROP GRUMMAN CORP COMMON 666807102 227 3,355 SH   SOLE 1 3,355 0 0
NOVARTIS AG ADR ADR 66987V109 2,255 39,275 SH   SOLE 1 39,275 0 0
NOVELLUS SYSTEMS INC COMMON 670008101 843 24,515 SH   SOLE 1 24,515 0 0
NUCOR CORP. COMMON 670346105 1,156 21,150 SH   SOLE 1 21,150 0 0
NVR INC COMMON 62944T105 370 575 SH   SOLE 1 575 0 0
OCEANEERING INTL INC COMMON 675232102 2,992 75,372 SH   SOLE 1 75,372 0 0
OFFICE DEPOT COMMON 676220106 911 23,890 SH   SOLE 1 23,890 0 0
OIL STATES INTERNATIONAL INC COMMON 678026105 583 18,094 SH   SOLE 1 18,094 0 0
OLD DOMINION FREIGHT LINE COMMON 679580100 303 12,592 SH   SOLE 1 12,592 0 0
OLD REPUBLIC INTERNATIONAL COMMON 680223104 70 3,046 SH   SOLE 1 3,046 0 0
OMI CORP COMMON Y6476W104 1,781 84,175 SH   SOLE 1 84,175 0 0
OMNICELL INC COMMON 68213N109 173 9,288 SH   SOLE 1 9,288 0 0
OMNICOM GROUP COMMON 681919106 601 5,755 SH   SOLE 1 5,755 0 0
OMNIVISION TECHNOLOGIES COMMON 682128103 1,975 144,715 SH   SOLE 1 144,715 0 0
ORACLE CORP COMMON 68389X105 3,004 175,275 SH   SOLE 1 175,275 0 0
PACCAR INC. COMMON 693718108 1,128 17,387 SH   SOLE 1 17,387 0 0
PACER INTERNATIONAL INC COMMON 69373H106 634 21,303 SH   SOLE 1 21,303 0 0
PACKETEER INC COMMON 695210104 357 26,255 SH   SOLE 1 26,255 0 0
PACTIV CORPORATION COMMON 695257105 37 1,050 SH   SOLE 1 1,050 0 0
PALM INC COMMON 696643105 2,577 182,950 SH   SOLE 1 182,950 0 0
PALOMAR MEDICAL TECHNOLOGIES COMMON 697529303 284 5,615 SH   SOLE 1 5,615 0 0
PANTRY INC COMMON 698657103 2,243 47,889 SH   SOLE 1 47,889 0 0
PAREXEL INTERNATIONAL CORP COMMON 699462107 255 8,815 SH   SOLE 1 8,815 0 0
PARKER-HANNIFIN CORP. COMMON 701094104 1,975 25,690 SH   SOLE 1 25,690 0 0
J C PENNEY CO. INC. COMMON 708160106 1,977 25,556 SH   SOLE 1 25,556 0 0
PEOPLESUPPORT INC COMMON 712714302 1,879 89,311 SH   SOLE 1 89,311 0 0
PEPSI BOTTLING GROUP INC COMMON 713409100 727 23,535 SH   SOLE 1 23,535 0 0
PEPSICO INC. COMMON 713448108 2,154 34,450 SH   SOLE 1 34,450 0 0
PETMED EXPRESS INC COMMON 716382106 2,292 171,715 SH   SOLE 1 171,715 0 0
PETROHAWK ENERGY CORP COMMON 716495106 2,215 192,669 SH   SOLE 1 192,669 0 0
PETROLEUM DEVELOPMENT CORP COMMON 716578109 0 2 SH   SOLE 1 2 0 0
PFIZER INC. COMMON 717081103 2,559 98,822 SH   SOLE 1 98,822 0 0
PG&E CORP COMMON 69331C108 2,113 44,663 SH   SOLE 1 44,663 0 0
PHH CORPORATION-WHEN ISSUED COMMON 693320202 5 188 SH   SOLE 1 188 0 0
PINNACLE WEST CAP CORP COMMON 723484101 60 1,200 SH   SOLE 1 1,200 0 0
PIONEER DRILLING COMPANY COMMON 723655106 2,859 215,296 SH   SOLE 1 215,296 0 0
PLEXUS CORP COMMON 729132100 352 14,755 SH   SOLE 1 14,755 0 0
PLUM CREEK TIMBER CO INC COMMON 729251108 34 875 SH   SOLE 1 875 0 0
PNC FINANCIAL SERVICES GROUP COMMON 693475105 2,095 28,303 SH   SOLE 1 28,303 0 0
POLYCOM INC COMMON 73172K104 12 420 SH   SOLE 1 420 0 0
PORTFOLIO RECOVERY ASSOCIATE COMMON 73640Q105 273 5,850 SH   SOLE 1 5,850 0 0
POZEN INC COMMON 73941U102 281 16,595 SH   SOLE 1 16,595 0 0
PREFERRED BANK/LOS ANGELES COMMON 740367107 1,706 28,404 SH   SOLE 1 28,404 0 0
PRICELINE.COM INC COMMON 741503403 382 8,760 SH   SOLE 1 8,760 0 0
PROASSURANCE CORP COMMON 74267C106 138 2,770 SH   SOLE 1 2,770 0 0
PROCTER & GAMBLE CO. COMMON 742718109 1,220 18,995 SH   SOLE 1 18,995 0 0
PRUDENTIAL FINANCIAL INC COMMON 744320102 2,279 26,545 SH   SOLE 1 26,545 0 0
PSYCHIATRIC SOLUTIONS INC COMMON 74439H108 3,879 103,396 SH   SOLE 1 103,396 0 0
TECHNITROL INC COMMON 74586W106 125 5,235 SH   SOLE 1 5,235 0 0
PHILLIPS VAN HEUSEN COMMON 693656100 386 7,705 SH   SOLE 1 7,705 0 0
QUANEX CORP COMMON 747620102 378 10,952 SH   SOLE 1 10,952 0 0
QUEST DIAGNOSTICS INC COMMON 74834L100 2,456 46,352 SH   SOLE 1 46,352 0 0
QUESTAR CORP. COMMON 748356102 911 10,970 SH   SOLE 1 10,970 0 0
RACKABLE SYSTEMS INC COMMON 750077109 134 4,345 SH   SOLE 1 4,345 0 0
POLO RALPH LAUREN CORP COMMON 751212101 197 2,545 SH   SOLE 1 2,545 0 0
RARE HOSPITALITY INTL INC COMMON 753820109 2,771 84,151 SH   SOLE 1 84,151 0 0
RAYONIER INC. COMMON 754907103 173 4,230 SH   SOLE 1 4,230 0 0
RAYTHEON COMPANY COMMON 755111507 902 17,100 SH   SOLE 1 17,100 0 0
REALOGY CORP - COMMON 75605E100 28 943 SH   SOLE 1 943 0 0
REGAL BELOIT CORP COMMON 758750103 199 3,790 SH   SOLE 1 3,790 0 0
REGIONS FINANCIAL CORP COMMON 7591EP100 289 7,730 SH   SOLE 1 7,730 0 0
RELIANCE STEEL & ALUMINUM COMMON 759509102 24 615 SH   SOLE 1 615 0 0
REYNOLDS AMERICAN INC COMMON 761713106 546 8,350 SH   SOLE 1 8,350 0 0
RF MICRO DEVICES INC COMMON 749941100 2,687 395,743 SH   SOLE 1 395,743 0 0
RIO TINTO PLC - SPON ADR ADR 767204100 484 2,280 SH   SOLE 1 2,280 0 0
ROBERT HALF INTL INC COMMON 770323103 311 8,400 SH   SOLE 1 8,400 0 0
ROCKWELL COLLINS COMMON 774341101 60 950 SH   SOLE 1 950 0 0
ROHM & HAAS CO. COMMON 775371107 616 12,051 SH   SOLE 1 12,051 0 0
ROSS STORES INC COMMON 778296103 23 800 SH   SOLE 1 800 0 0
MACROVISION CORP COMMON 779376102 194 6,872 SH   SOLE 1 6,872 0 0
RPC INCORPORATED COMMON 749660106 424 25,154 SH   SOLE 1 25,154 0 0
RUTH'S CHRIS STEAK HOUSE COMMON 783332109 314 17,218 SH   SOLE 1 17,218 0 0
SABRE GROUP HOLDINGS INC COMMON 785905100 258 8,115 SH   SOLE 1 8,115 0 0
SAFECO CORP COMMON 786429100 505 8,085 SH   SOLE 1 8,085 0 0
SAFEWAY STORES INC COMMON 786514208 1,439 41,660 SH   SOLE 1 41,660 0 0
SCHERING PLOUGH CORP. COMMON 806605101 197 8,355 SH   SOLE 1 8,355 0 0
SCHNITZER STEEL INDS INC-A COMMON 806882106 20 520 SH   SOLE 1 520 0 0
SCHOLASTIC CORP COMMON 807066105 135 3,790 SH   SOLE 1 3,790 0 0
SCIELE PHARMA INC COMMON 808627103 3,903 162,644 SH   SOLE 1 162,644 0 0
SEAGATE TECHNOLOGY HOLDINGS COMMON G7945J104 497 18,791 SH   SOLE 1 18,791 0 0
SEARS HOLDINGS CORP COMMON 812350106 1,248 7,435 SH   SOLE 1 7,435 0 0
SELECT COMFORT CORPORATION COMMON 81616X103 268 15,438 SH   SOLE 1 15,438 0 0
SELECTIVE INSURANCE GROUP COMMON 816300107 3,014 52,617 SH   SOLE 1 52,617 0 0
SENIOR HOUSING PROP TRUST COMMON 81721M109 4,032 164,721 SH   SOLE 1 164,721 0 0
SHERWIN WILLIAMS CO. COMMON 824348106 1,979 31,130 SH   SOLE 1 31,130 0 0
SILICON IMAGE INC COMMON 82705T102 382 30,058 SH   SOLE 1 30,058 0 0
SILICON LABORATORIES INC COMMON 826919102 818 23,615 SH   SOLE 1 23,615 0 0
SLM CORP COMMON 78442P106 1,063 21,800 SH   SOLE 1 21,800 0 0
SMITH INTERNATIONAL INC. COMMON 832110100 2,351 57,250 SH   SOLE 1 57,250 0 0
SONIC AUTOMOTIVE INC COMMON 83545G102 2,490 85,747 SH   SOLE 1 85,747 0 0
SOUTHERN COPPER CORP COMMON 84265V105 1,942 36,050 SH   SOLE 1 36,050 0 0
SPARTAN STORES INC COMMON 847215100 132 6,320 SH   SOLE 1 6,320 0 0
STAPLES INC. COMMON 855030102 667 25,000 SH   SOLE 1 25,000 0 0
STEEL DYNAMICS INC COMMON 858119100 1,253 38,640 SH   SOLE 1 38,640 0 0
STEINER LEISURE LTD COMMON P8744Y102 2,312 50,833 SH   SOLE 1 50,833 0 0
STERICYCLE INC COMMON 858912108 2,512 33,282 SH   SOLE 1 33,282 0 0
STEVEN MADDEN LTD COMMON 556269108 257 7,340 SH   SOLE 1 7,340 0 0
SUNOCO INC COMMON 86764P109 156 2,510 SH   SOLE 1 2,510 0 0
SUNRISE ASSISTED LIVING INC COMMON 86768K106 2,367 77,070 SH   SOLE 1 77,070 0 0
SUNTRUST BANKS INC. COMMON 867914103 73 875 SH   SOLE 1 875 0 0
SURMODICS INC COMMON 868873100 133 4,276 SH   SOLE 1 4,276 0 0
SYKES ENTERPRISES INC COMMON 871237103 385 21,870 SH   SOLE 1 21,870 0 0
SYNAPTICS INC COMMON 87157D109 372 12,535 SH   SOLE 1 12,535 0 0
TALISMAN ENERGY COMMON 87425E103 53 3,150 SH   SOLE 1 3,150 0 0
TANGER FACTORY OUTLET CENTER COMMON 875465106 294 7,525 SH   SOLE 1 7,525 0 0
TARGET CORP COMMON 87612E106 197 3,456 SH   SOLE 1 3,456 0 0
TD BANKNORTH INC COMMON 87235A101 42 1,311 SH   SOLE 1 1,311 0 0
TEKTRONIX INC. COMMON 879131100 164 5,645 SH   SOLE 1 5,645 0 0
TELEDYNE TECHNOLOGIES INC COMMON 879360105 330 8,240 SH   SOLE 1 8,240 0 0
TEMPUR PEDIC INTERNATIONAL IN COMMON 88023U101 298 14,589 SH   SOLE 1 14,589 0 0
TENNECO AUTOMOTIVE INC COMMON 880349105 2,401 97,128 SH   SOLE 1 97,128 0 0
TESORO PETE CORP. COMMON 881609101 178 2,715 SH   SOLE 1 2,715 0 0
TEXAS INSTRUMENTS INC. COMMON 882508104 944 32,790 SH   SOLE 1 32,790 0 0
THE PMI GROUP INC COMMON 69344M101 684 14,515 SH   SOLE 1 14,515 0 0
ST PAUL TRAVELERS COMPANIES COMMON 89417E109 260 4,855 SH   SOLE 1 4,855 0 0
THQ INC COMMON 872443403 148 4,580 SH   SOLE 1 4,580 0 0
TIBCO SOFTWARE INC COMMON 88632Q103 23 2,540 SH   SOLE 1 2,540 0 0
TIDEWATER INC COMMON 886423102 1,675 34,645 SH   SOLE 1 34,645 0 0
TIME WARNER INC COMMON 887317303 171 7,870 SH   SOLE 1 7,870 0 0
TJX COS INC COMMON 872540109 2,767 97,030 SH   SOLE 1 97,030 0 0
TRADESTATION GROUP INC COMMON 89267P105 216 15,710 SH   SOLE 1 15,710 0 0
TRAVELZOO INC COMMON 89421Q106 255 8,520 SH   SOLE 1 8,520 0 0
TRIMBLE NAVIGATION LTD COMMON 896239100 2,220 43,772 SH   SOLE 1 43,772 0 0
TRIMERIS INC COMMON 896263100 283 22,320 SH   SOLE 1 22,320 0 0
TRUE RELIGION APPAREL INC COMMON 89784N104 1,502 98,161 SH   SOLE 1 98,161 0 0
LABOR READY INC COMMON 89785X101 295 16,139 SH   SOLE 1 16,139 0 0
TTM TECHNOLOGIES COMMON 87305R109 154 13,665 SH   SOLE 1 13,665 0 0
TWEEN BRANDS INC COMMON 901166108 263 6,596 SH   SOLE 1 6,596 0 0
TXU CORPORATION COMMON 873168108 1,310 24,175 SH   SOLE 1 24,175 0 0
TYSON FOODS INC. CLASS A COMMON 902494103 45 2,743 SH   SOLE 1 2,743 0 0
UMPQUA HOLDINGS CORP COMMON 904214103 2,113 71,805 SH   SOLE 1 71,805 0 0
UNION PACIFIC CORP. COMMON 907818108 36 400 SH   SOLE 1 400 0 0
UNITED AMERICA INDEMNITY -A COMMON 90933T109 2,573 101,598 SH   SOLE 1 101,598 0 0
UNITED ONLINE INC COMMON 911268100 234 17,640 SH   SOLE 1 17,640 0 0
UNITED PARCEL SERVICE - CL B COMMON 911312106 1,529 20,400 SH   SOLE 1 20,400 0 0
UNITED RENTALS INC COMMON 911363109 3,074 120,890 SH   SOLE 1 120,890 0 0
UNITED STATES STEEL CORP COMMON 912909108 244 3,340 SH   SOLE 1 3,340 0 0
UNITED STATIONERS INC COMMON 913004107 111 2,385 SH   SOLE 1 2,385 0 0
UNITED TECHNOLOGIES CORP. COMMON 913017109 4,160 66,545 SH   SOLE 1 66,545 0 0
UNITED THERAPEUTICS CORP COMMON 91307C102 257 4,740 SH   SOLE 1 4,740 0 0
UNITEDHEALTH GROUP INC COMMON 91324P102 1,132 21,070 SH   SOLE 1 21,070 0 0
UNIVERSAL FOREST PRODUCTS COMMON 913543104 9 205 SH   SOLE 1 205 0 0
U.S. XPRESS ENTERPRISES-A COMMON 90338N103 123 7,470 SH   SOLE 1 7,470 0 0
UST INC. COMMON 902911106 889 15,275 SH   SOLE 1 15,275 0 0
UTSTARCOM INC COMMON 918076100 180 20,680 SH   SOLE 1 20,680 0 0
VALERO ENERGY CORP COMMON 91913Y100 1,700 33,245 SH   SOLE 1 33,245 0 0
VARIAN INC COMMON 922206107 183 4,105 SH   SOLE 1 4,105 0 0
VCA ANTECH INC COMMON 918194101 2,198 68,296 SH   SOLE 1 68,296 0 0
VERIGY LTD COMMON Y93691106 63 3,590 SH   SOLE 1 3,590 0 0
VERIZON COMMUNICATIONS COMMON 92343V104 904 24,283 SH   SOLE 1 24,283 0 0
VIACOM INC-CLASS B COMMON 92553P201 17 425 SH   SOLE 1 425 0 0
VIROPHARMA INC COMMON 928241108 323 22,114 SH   SOLE 1 22,114 0 0
VISHAY INTERTECHNOLOGY INC. COMMON 928298108 311 22,975 SH   SOLE 1 22,975 0 0
VITAL IMAGES INC COMMON 92846N104 330 9,505 SH   SOLE 1 9,505 0 0
W-H ENERGY SERVICES INC COMMON 92925E108 287 5,900 SH   SOLE 1 5,900 0 0
WASTE MANAGEMENT COMMON 94106L109 1,154 31,410 SH   SOLE 1 31,410 0 0
WATSON WYATT & CO. HOLDINGS COMMON 942712100 3,249 71,963 SH   SOLE 1 71,963 0 0
WELLS FARGO CO COMMON 949746101 128 3,615 SH   SOLE 1 3,615 0 0
WESCO INTERNATIONAL INC COMMON 95082P105 1,650 28,066 SH   SOLE 1 28,066 0 0
WEST PHARMACEUTICAL SERVICES COMMON 955306105 2,780 54,270 SH   SOLE 1 54,270 0 0
WESTERN DIGITAL CORP. COMMON 958102105 613 30,005 SH   SOLE 1 30,005 0 0
WESTERN UNION COMPANY COMMON 959802109 7 325 SH   SOLE 1 325 0 0
WRIGHT EXPRESS CORP COMMON 96208T104 2,508 80,490 SH   SOLE 1 80,490 0 0
WEYERHAEUSER CO. COMMON 962166104 56 800 SH   SOLE 1 800 0 0
WHIRLPOOL CORP. COMMON 963320106 1,012 12,200 SH   SOLE 1 12,200 0 0
WISCONSIN ENERGY CORP. COMMON 976657106 53 1,125 SH   SOLE 1 1,125 0 0
WOODWARD GOVERNOR CO COMMON 980745103 2,291 57,700 SH   SOLE 1 57,700 0 0
WORLD ACCEPTANCE CORP COMMON 981419104 214 4,569 SH   SOLE 1 4,569 0 0
WYETH COMMON 983024100 5,263 103,372 SH   SOLE 1 103,372 0 0
WYNDHAM WORLDWIDE CORP COMMON 98310W108 24 755 SH   SOLE 1 755 0 0
XEROX CORP. COMMON 984121103 1,246 73,530 SH   SOLE 1 73,530 0 0
XL CAPITAL LTD COMMON G98290102 970 13,481 SH   SOLE 1 13,481 0 0
YANKEE CANDLE CO COMMON 984757104 344 10,055 SH   SOLE 1 10,055 0 0
YUM BRANDS INC COMMON 988498101 1,990 33,850 SH   SOLE 1 33,850 0 0
ZOLL MEDICAL CORP COMMON 989922109 393 6,755 SH   SOLE 1 6,755 0 0