<?xml version="1.0" encoding="utf-8"?>
<informationTable xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable">
  <infoTable>
    <nameOfIssuer>Acadia Healthcare Company, Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00404A109</cusip>
    <value>2915</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>60100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Actavis Plc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G0083B108</cusip>
    <value>13195</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54688</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18377</Sole>
      <Shared>0</Shared>
      <None>36311</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adobe Systems</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00724F101</cusip>
    <value>12476</value>
    <shrsOrPrnAmt>
      <sshPrnamt>180316</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>60656</Sole>
      <Shared>0</Shared>
      <None>119660</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aliqua Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>019621200</cusip>
    <value>1561</value>
    <shrsOrPrnAmt>
      <sshPrnamt>321832</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>321832</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Allergan, Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>018490102</cusip>
    <value>13195</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74048</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>23955</Sole>
      <Shared>0</Shared>
      <None>50093</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Allstate Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>020002101</cusip>
    <value>211</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3439</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3439</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Altera</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>021441100</cusip>
    <value>10812</value>
    <shrsOrPrnAmt>
      <sshPrnamt>302178</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>100346</Sole>
      <Shared>0</Shared>
      <None>201832</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amazon.com Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>023135106</cusip>
    <value>10994</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34096</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12173</Sole>
      <Shared>0</Shared>
      <None>21923</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Airlines Group Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02376R102</cusip>
    <value>8731</value>
    <shrsOrPrnAmt>
      <sshPrnamt>246076</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>82513</Sole>
      <Shared>0</Shared>
      <None>163563</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apple Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>037833100</cusip>
    <value>23103</value>
    <shrsOrPrnAmt>
      <sshPrnamt>229306</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>126964</Sole>
      <Shared>0</Shared>
      <None>102342</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ardmore Shipping Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>Y0207T100</cusip>
    <value>1627</value>
    <shrsOrPrnAmt>
      <sshPrnamt>149294</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>149294</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avago Technologies Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>Y0486S104</cusip>
    <value>5987</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68818</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>23150</Sole>
      <Shared>0</Shared>
      <None>45668</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank of America Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>060505104</cusip>
    <value>5023</value>
    <shrsOrPrnAmt>
      <sshPrnamt>294604</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15553</Sole>
      <Shared>0</Shared>
      <None>279051</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank of the Ozarks</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>063904106</cusip>
    <value>3067</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>97300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Belden Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>077454106</cusip>
    <value>2823</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>44100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Biogen Idec Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09062X103</cusip>
    <value>5212</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15756</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9810</Sole>
      <Shared>0</Shared>
      <None>5946</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BlackRock, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09247X101</cusip>
    <value>215</value>
    <shrsOrPrnAmt>
      <sshPrnamt>655</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>655</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bluebird Bio Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09609G100</cusip>
    <value>578</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>16100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boulder Brands</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>101405108</cusip>
    <value>2086</value>
    <shrsOrPrnAmt>
      <sshPrnamt>153021</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>153021</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CBS Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>124857202</cusip>
    <value>12807</value>
    <shrsOrPrnAmt>
      <sshPrnamt>239377</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>80715</Sole>
      <Shared>0</Shared>
      <None>158662</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Capital One Financial Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14040H105</cusip>
    <value>6321</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77447</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2894</Sole>
      <Shared>0</Shared>
      <None>74553</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cardinal Health Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14149Y108</cusip>
    <value>216</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2881</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2881</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cavium Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14964U108</cusip>
    <value>2641</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>53100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celdex Theraputics, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>15117B103</cusip>
    <value>2006</value>
    <shrsOrPrnAmt>
      <sshPrnamt>154759</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>154759</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celgene Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>151020104</cusip>
    <value>12833</value>
    <shrsOrPrnAmt>
      <sshPrnamt>135400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>44042</Sole>
      <Shared>0</Shared>
      <None>91358</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cisco Systems Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>17275R102</cusip>
    <value>6439</value>
    <shrsOrPrnAmt>
      <sshPrnamt>255808</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8612</Sole>
      <Shared>0</Shared>
      <None>247196</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Citigroup Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>172967424</cusip>
    <value>9056</value>
    <shrsOrPrnAmt>
      <sshPrnamt>174761</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>45850</Sole>
      <Shared>0</Shared>
      <None>128911</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clovis Oncology</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>189464100</cusip>
    <value>15528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>342318</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>93965</Sole>
      <Shared>0</Shared>
      <None>248353</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clubcorp Holdings</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>18948M108</cusip>
    <value>3566</value>
    <shrsOrPrnAmt>
      <sshPrnamt>179831</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>179831</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coca-Cola Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>191216100</cusip>
    <value>6705</value>
    <shrsOrPrnAmt>
      <sshPrnamt>157181</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>98600</Sole>
      <Shared>0</Shared>
      <None>58581</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cognex Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>192422103</cusip>
    <value>2414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>59950</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Colgate Palmolive</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>194162103</cusip>
    <value>6757</value>
    <shrsOrPrnAmt>
      <sshPrnamt>103602</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>65327</Sole>
      <Shared>0</Shared>
      <None>38275</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Comcast Corp Class A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>20030N101</cusip>
    <value>12287</value>
    <shrsOrPrnAmt>
      <sshPrnamt>228472</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>76913</Sole>
      <Shared>0</Shared>
      <None>151559</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Craft Brew Alliance Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>224122101</cusip>
    <value>2787</value>
    <shrsOrPrnAmt>
      <sshPrnamt>193544</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>193544</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cvent Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>23247G109</cusip>
    <value>2603</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102587</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>102587</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cypress Semiconductor Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>232806109</cusip>
    <value>2381</value>
    <shrsOrPrnAmt>
      <sshPrnamt>241100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>241100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DXP Enterprises Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>233377407</cusip>
    <value>2955</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>40100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dana Holding Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>235825205</cusip>
    <value>2540</value>
    <shrsOrPrnAmt>
      <sshPrnamt>132500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>132500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Danaher Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>235851102</cusip>
    <value>6501</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85558</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>53465</Sole>
      <Shared>0</Shared>
      <None>32093</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Devon Energy Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>25179M103</cusip>
    <value>9766</value>
    <shrsOrPrnAmt>
      <sshPrnamt>143237</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>43303</Sole>
      <Shared>0</Shared>
      <None>99934</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diamondback Energy Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>25278X109</cusip>
    <value>2034</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>27200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Discover Financial Services</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>254709108</cusip>
    <value>210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3264</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3264</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Electronics for Imaging, Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>286082102</cusip>
    <value>2814</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>63700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EnerNoc, Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>292764107</cusip>
    <value>2315</value>
    <shrsOrPrnAmt>
      <sshPrnamt>136500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>136500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Euronet Worldwide Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>298736109</cusip>
    <value>1348</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>28200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FEI Company</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30241L109</cusip>
    <value>2523</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33448</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>33448</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Facebook Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30303M102</cusip>
    <value>12784</value>
    <shrsOrPrnAmt>
      <sshPrnamt>161747</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>52784</Sole>
      <Shared>0</Shared>
      <None>108963</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fed Ex Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>31428X106</cusip>
    <value>10465</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64818</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>22895</Sole>
      <Shared>0</Shared>
      <None>41923</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Five Below, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>33829M101</cusip>
    <value>2313</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>58400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gencorp Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>368682100</cusip>
    <value>2637</value>
    <shrsOrPrnAmt>
      <sshPrnamt>165103</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>165103</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gentherm Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37253A103</cusip>
    <value>2585</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61205</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>61205</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gilead Sciences Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>375558103</cusip>
    <value>5450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51196</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16400</Sole>
      <Shared>0</Shared>
      <None>34796</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Google Inc-Cl A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38259P508</cusip>
    <value>10806</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18365</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7425</Sole>
      <Shared>0</Shared>
      <None>10940</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Google Inc-Class C</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38259P706</cusip>
    <value>10620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18394</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7255</Sole>
      <Shared>0</Shared>
      <None>11139</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Guidewire Software, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>40171v100</cusip>
    <value>2660</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59998</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>59998</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>H&amp;E Equipment Services, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>404030108</cusip>
    <value>2857</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70919</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>70919</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HCA, Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>40412C101</cusip>
    <value>12510</value>
    <shrsOrPrnAmt>
      <sshPrnamt>177398</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>59916</Sole>
      <Shared>0</Shared>
      <None>117482</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Halcon Resources Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>40537Q209</cusip>
    <value>1652</value>
    <shrsOrPrnAmt>
      <sshPrnamt>417100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>417100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Halliburton</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>406216101</cusip>
    <value>11453</value>
    <shrsOrPrnAmt>
      <sshPrnamt>177542</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>59533</Sole>
      <Shared>0</Shared>
      <None>118009</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hartford Financial Services Gr</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>416515104</cusip>
    <value>13018</value>
    <shrsOrPrnAmt>
      <sshPrnamt>349488</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>116215</Sole>
      <Shared>0</Shared>
      <None>233273</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Healthcare Services Group</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>421906108</cusip>
    <value>3118</value>
    <shrsOrPrnAmt>
      <sshPrnamt>108984</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>108984</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Heartland Express, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>422347104</cusip>
    <value>2569</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107204</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>107204</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hewlett Packard</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>428236103</cusip>
    <value>5939</value>
    <shrsOrPrnAmt>
      <sshPrnamt>167451</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5583</Sole>
      <Shared>0</Shared>
      <None>161868</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Imperva Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45321L100</cusip>
    <value>2270</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>79000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intel Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>458140100</cusip>
    <value>12846</value>
    <shrsOrPrnAmt>
      <sshPrnamt>368929</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>122330</Sole>
      <Shared>0</Shared>
      <None>246599</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intercept Pharmaceuticals, Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45845P108</cusip>
    <value>14800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62529</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16313</Sole>
      <Shared>0</Shared>
      <None>46216</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G491BT108</cusip>
    <value>209</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>J &amp; J Snack Foods Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>466032109</cusip>
    <value>3177</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33961</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>33961</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JPMorgan Chase&amp; Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46625H100</cusip>
    <value>5800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96288</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5050</Sole>
      <Shared>0</Shared>
      <None>91238</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jack in the Box Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>466367109</cusip>
    <value>2830</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>41500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jarden Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>471109108</cusip>
    <value>12830</value>
    <shrsOrPrnAmt>
      <sshPrnamt>213446</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>71856</Sole>
      <Shared>0</Shared>
      <None>141590</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JetBlue Airways Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>477134101</cusip>
    <value>1760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>165700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>165700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ligand Pharmaceuticals Incorpo</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>53220K504</cusip>
    <value>1565</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>33300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lincoln National Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>534187109</cusip>
    <value>6358</value>
    <shrsOrPrnAmt>
      <sshPrnamt>118661</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3794</Sole>
      <Shared>0</Shared>
      <None>114867</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lockheed Martin Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>539830109</cusip>
    <value>6775</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37069</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>23215</Sole>
      <Shared>0</Shared>
      <None>13854</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MGM Resorts International</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>552953101</cusip>
    <value>5012</value>
    <shrsOrPrnAmt>
      <sshPrnamt>220006</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>76944</Sole>
      <Shared>0</Shared>
      <None>143062</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Magicjack Vocal Tech</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>M6787E101</cusip>
    <value>1878</value>
    <shrsOrPrnAmt>
      <sshPrnamt>190651</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>190651</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Medtronic</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>585055106</cusip>
    <value>10799</value>
    <shrsOrPrnAmt>
      <sshPrnamt>174318</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>51557</Sole>
      <Shared>0</Shared>
      <None>122761</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Men's Wearhouse Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>587118100</cusip>
    <value>2819</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>59700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Microsemi Corp Com</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>595137100</cusip>
    <value>3110</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>122400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Microsoft Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>594918104</cusip>
    <value>15839</value>
    <shrsOrPrnAmt>
      <sshPrnamt>341643</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>141812</Sole>
      <Shared>0</Shared>
      <None>199831</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Molson Coors Brewing Co-B</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>60871R209</cusip>
    <value>9510</value>
    <shrsOrPrnAmt>
      <sshPrnamt>127757</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>36235</Sole>
      <Shared>0</Shared>
      <None>91522</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Motorcar Parts of America</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>620071100</cusip>
    <value>2251</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82712</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>82712</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mueller Water Products Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>624758108</cusip>
    <value>2939</value>
    <shrsOrPrnAmt>
      <sshPrnamt>355000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>355000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mylan Labs</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>628530107</cusip>
    <value>14400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>316547</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>100272</Sole>
      <Shared>0</Shared>
      <None>216275</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Neogen Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>640491106</cusip>
    <value>2792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70686</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>70686</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oracle</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68389X105</cusip>
    <value>12954</value>
    <shrsOrPrnAmt>
      <sshPrnamt>338403</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>108131</Sole>
      <Shared>0</Shared>
      <None>230272</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PGT Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69336V101</cusip>
    <value>2880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>308966</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>308966</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PNC Financial Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>693475105</cusip>
    <value>6393</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74701</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2859</Sole>
      <Shared>0</Shared>
      <None>71842</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Panera Bread Company - CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69840W108</cusip>
    <value>3276</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20135</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6556</Sole>
      <Shared>0</Shared>
      <None>13579</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Papa John's Pizza</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>698813102</cusip>
    <value>3163</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>79100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Parametric Technology Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69370C100</cusip>
    <value>1729</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46855</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>46855</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pharmacyclics Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>716933106</cusip>
    <value>12177</value>
    <shrsOrPrnAmt>
      <sshPrnamt>103699</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>33811</Sole>
      <Shared>0</Shared>
      <None>69888</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Phibro Animal Health Corp-A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>71742Q106</cusip>
    <value>1952</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87126</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>87126</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pioneer Natural Resources</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>723787107</cusip>
    <value>11048</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56089</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18754</Sole>
      <Shared>0</Shared>
      <None>37335</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Polyone Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>73179P106</cusip>
    <value>2974</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>83600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Power Solutions International,</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>73933G202</cusip>
    <value>2933</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42505</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>42505</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Precision Castparts Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>740189105</cusip>
    <value>9341</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39433</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12849</Sole>
      <Shared>0</Shared>
      <None>26584</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Prestige Brands Holdings, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74112D101</cusip>
    <value>2674</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>82600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Procter &amp; Gamble</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>742718109</cusip>
    <value>12838</value>
    <shrsOrPrnAmt>
      <sshPrnamt>153308</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>51680</Sole>
      <Shared>0</Shared>
      <None>101628</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Prudential Financial Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>744320102</cusip>
    <value>12427</value>
    <shrsOrPrnAmt>
      <sshPrnamt>141316</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>47259</Sole>
      <Shared>0</Shared>
      <None>94057</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Puma Biotechnology, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74587V107</cusip>
    <value>1732</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7262</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>7262</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qualcomm Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>747525103</cusip>
    <value>3010</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40255</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>25100</Sole>
      <Shared>0</Shared>
      <None>15155</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RF-Micro-Devices</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>749941100</cusip>
    <value>2800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>242600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>242600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ralph Lauren Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>751212101</cusip>
    <value>12066</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73245</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>23849</Sole>
      <Shared>0</Shared>
      <None>49396</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Raytheon Company</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>755111507</cusip>
    <value>6302</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62018</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2091</Sole>
      <Shared>0</Shared>
      <None>59927</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Remy International, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>759663107</cusip>
    <value>2558</value>
    <shrsOrPrnAmt>
      <sshPrnamt>124588</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>124588</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rexnord Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76169B102</cusip>
    <value>2939</value>
    <shrsOrPrnAmt>
      <sshPrnamt>103300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>103300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rockwell Medical Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>774374102</cusip>
    <value>2321</value>
    <shrsOrPrnAmt>
      <sshPrnamt>253957</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>253957</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royal Caribbean Cruises Ltd.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>V7780T103</cusip>
    <value>11099</value>
    <shrsOrPrnAmt>
      <sshPrnamt>164938</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>55537</Sole>
      <Shared>0</Shared>
      <None>109401</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sanchez Energy Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>79970Y105</cusip>
    <value>2067</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>78700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spectrum Brands Holdings Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>84763R101</cusip>
    <value>1900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20991</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>20991</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>St. Jude Medical</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>790849103</cusip>
    <value>11535</value>
    <shrsOrPrnAmt>
      <sshPrnamt>191835</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>64574</Sole>
      <Shared>0</Shared>
      <None>127261</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Steve Madden LTD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>556269108</cusip>
    <value>2943</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91316</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>91316</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stone Energy Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>861642106</cusip>
    <value>2007</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>64000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Taser International Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87651B104</cusip>
    <value>1512</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>97900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Team Health Holdings</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87817A107</cusip>
    <value>2366</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>40800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Telenav Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>879455103</cusip>
    <value>1700</value>
    <shrsOrPrnAmt>
      <sshPrnamt>253762</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>253762</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tenneco Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>880349105</cusip>
    <value>2396</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>45800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tesaro Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>881569107</cusip>
    <value>1700</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63133</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>63133</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Textainer Group Holdings. LTD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G8766E109</cusip>
    <value>2390</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76810</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>76810</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thermo Fisher Scientific</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>883556102</cusip>
    <value>12603</value>
    <shrsOrPrnAmt>
      <sshPrnamt>103560</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>34819</Sole>
      <Shared>0</Shared>
      <None>68741</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Time Warner Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>887317303</cusip>
    <value>6222</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82722</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2689</Sole>
      <Shared>0</Shared>
      <None>80033</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>U.S. Bancorp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>902973304</cusip>
    <value>205</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Union Pacific Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>907818108</cusip>
    <value>9253</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85344</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>27536</Sole>
      <Shared>0</Shared>
      <None>57808</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Technologies</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>913017109</cusip>
    <value>6416</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60756</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>37969</Sole>
      <Shared>0</Shared>
      <None>22787</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valeant Pharmaceuticals</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>91911K102</cusip>
    <value>7665</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58426</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>58426</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Verizon Communications</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92343V104</cusip>
    <value>3258</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65173</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>40400</Sole>
      <Shared>0</Shared>
      <None>24773</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vince Holding Group</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92719W108</cusip>
    <value>2772</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>91600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Visa</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92826C839</cusip>
    <value>6544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30670</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>19166</Sole>
      <Shared>0</Shared>
      <None>11504</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wabash National Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>929566107</cusip>
    <value>2870</value>
    <shrsOrPrnAmt>
      <sshPrnamt>215434</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>215434</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Walt Disney Co.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>254687106</cusip>
    <value>12562</value>
    <shrsOrPrnAmt>
      <sshPrnamt>141104</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>47575</Sole>
      <Shared>0</Shared>
      <None>93529</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wellcare Health Plans</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>94946T106</cusip>
    <value>2619</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>43400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Whirlpool Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>963320106</cusip>
    <value>11319</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77711</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>26097</Sole>
      <Shared>0</Shared>
      <None>51614</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Whiting Petroleum Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>966387102</cusip>
    <value>11540</value>
    <shrsOrPrnAmt>
      <sshPrnamt>148804</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>49329</Sole>
      <Shared>0</Shared>
      <None>99475</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Willbros Group, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>969203108</cusip>
    <value>2172</value>
    <shrsOrPrnAmt>
      <sshPrnamt>260792</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>260792</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>XPO Logistics, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>983793100</cusip>
    <value>2659</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70586</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>70586</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Yahoo!</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>984332106</cusip>
    <value>6484</value>
    <shrsOrPrnAmt>
      <sshPrnamt>159127</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>53611</Sole>
      <Shared>0</Shared>
      <None>105516</None>
    </votingAuthority>
  </infoTable>
</informationTable>
