Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GLD	SPDR GOLD TRUST	250,000	$30.9M	6.2%	—	—	SHS	78463V107
ORCL	ORACLE CORP	391,010	$16M	3.2%	—	—	COM	68389X105
MSFT	MICROSOFT CORP	386,076	$15.82M	3.2%	—	—	COM	594918104
—	ANADARKO PETROLEUM CORP	185,626	$15.73M	3.1%	—	—	COM	032511107
OXY	OCCIDENTAL PETROLEUM	117,189	$11.17M	2.2%	—	—	COM	674599105
JPM	JPMORGAN CHASE & COMPANY	171,175	$10.39M	2.1%	—	—	COM	46625H100
LNC	LINCOLN NATIONAL CORP INDIANA	195,000	$9.881M	2.0%	—	—	COM	534187109
TRV	TRAVELERS COS INC/THE	115,000	$9.787M	2.0%	—	—	COM	89417E109
PFE	PFIZER INC COMMON STOCK	292,071	$9.381M	1.9%	—	—	COM	717081103
FDX	FEDEX CORPORATION	65,000	$8.616M	1.7%	—	—	COM	31428X106
MET	METLIFE INC	161,075	$8.505M	1.7%	—	—	COM	59156R108
DAL	DELTA AIR LINES INC	239,845	$8.311M	1.7%	—	—	COM NEW	247361702
AIZ	ASSURANT INC	127,400	$8.276M	1.7%	—	—	COM	04621X108
IBM	INTERNATIONAL BUSINESS MACHINE COMMON STOCK	40,000	$7.7M	1.5%	—	—	COM	459200101
—	RENTECH NITROGEN PARTNERS LP	406,148	$7.558M	1.5%	—	—	COM	760113100
—	HEWLETT-PACKARED CO COMMON STOCK	209,605	$6.783M	1.4%	—	—	COM	428236103
—	WPX ENERGY INC-W/I	375,020	$6.762M	1.4%	—	—	COM	98212B103
—	PIONEER NATURAL RESOURCES CO	36,000	$6.737M	1.3%	—	—	COM	723787107
C	CITIGROUP INC	139,611	$6.645M	1.3%	—	—	COM	172967424
—	ENBRIDGE ENERGY PARTNERS LP	220,000	$6.03M	1.2%	—	—	COM	29250R106
JNJ	JOHNSON & JOHNSON COMMON STOCK	56,750	$5.575M	1.1%	—	—	COM	478160104
DE	DEERE & CO	60,000	$5.448M	1.1%	—	—	COM	244199105
—	APACHE CORP	65,000	$5.392M	1.1%	—	—	COM	037411105
—	AETNA INC	70,000	$5.248M	1.0%	—	—	COM	00817Y108
—	CVR PARTNERS LP	242,100	$5.13M	1.0%	—	—	COM	126633106
AAL	AMERICAN AIRLINES GROUP INC	140,000	$5.124M	1.0%	—	—	COM	02376R102
—	COVANTA HOLDING CORP	4,280,000	$4.973M	1.0%	—	—	NOTE 3.250% 6/0	22282EAC6
—	COMCAST CORP CL A SPL	100,000	$4.877M	1.0%	—	—	CL A	20030N200
PHM	PULTE CORP	245,000	$4.702M	0.9%	—	—	COM	745867101
AVT	AVNET INC	93,375	$4.345M	0.9%	—	—	COM	053807103
MRK	MERCK & CO. INC.	73,504	$4.173M	0.8%	—	—	COM	58933Y105
—	SUPERIOR ENERGY SERVICES INC	134,850	$4.148M	0.8%	—	—	COM	868157108
BP	BP PLC-SPONS ADR	82,907	$3.988M	0.8%	—	—	SPONSORED ADR	055622104
DVN	DEVON ENERGY CORP	59,500	$3.982M	0.8%	—	—	COM	25179M103
GM	GENREAL MOTORS CO	110,785	$3.813M	0.8%	—	—	COM	37045V100
NWSA	NEWS CORP - CLASS A	218,815	$3.768M	0.8%	—	—	CL A	65249B109
—	PETROLOGISTICS LP	300,000	$3.732M	0.7%	—	—	UNIT LTD PTH INT	71672U101
ETN	EATON CORP PLC	48,370	$3.634M	0.7%	—	—	SHS	G29183103
ON	ON SEMICONDUCTOR CORPORATION	384,075	$3.61M	0.7%	—	—	COM	682189105
—	LEGG MASON INC	68,200	$3.345M	0.7%	—	—	COM	524901105
—	ROYAL DUTCH SHELL PLC-ADR	44,008	$3.215M	0.6%	—	—	SPONSORED ADR	780259206
—	ENSCO INTERNATIONAL PLC	60,000	$3.167M	0.6%	—	—	SHS CL A	G3157S106
—	BARRICK GOLD CORP	177,159	$3.159M	0.6%	—	—	COM	067901108
BA	BOEING COMPANY	25,000	$3.137M	0.6%	—	—	COM	097023105
—	BAKER HUGHES INC	48,175	$3.132M	0.6%	—	—	COM	057224107
AIG	AMERICAN INTERNATIONAL GROUP	61,900	$3.096M	0.6%	—	—	COM NEW	026874784
—	STAPLES INC	264,428	$2.999M	0.6%	—	—	COM	855030102
—	QEP MIDSTREAM PARTNERS LP	125,000	$2.923M	0.6%	—	—	COM UNIT RP LTD	74735R115
UPBD	RENT-A-CENTER INC	105,200	$2.798M	0.6%	—	—	COM	76009N100
—	ING US INC	74,875	$2.716M	0.5%	—	—	COM	45685E106
PNC	PNC FINANCIAL SERVICES GROUP	30,069	$2.616M	0.5%	—	—	COM	693475105
XOM	EXXON MOBIL CORP	26,475	$2.586M	0.5%	—	—	COM	30231G102
—	CIGNA CORP	30,850	$2.583M	0.5%	—	—	COM	125509109
—	DENBURY RESOURCES INC	155,000	$2.542M	0.5%	—	—	COM	247916208
—	INTERPUBLIC GROUP COS	146,275	$2.507M	0.5%	—	—	COM	460690100
GS	GOLDMAN SACHS GROUP INC	15,075	$2.47M	0.5%	—	—	COM	38141G104
—	MASONITE INTERNATIONAL CORP	43,625	$2.466M	0.5%	—	—	COM	575385109
CNO	CNO FINANCIAL GROUP	132,500	$2.398M	0.5%	—	—	COM	12621E103
—	CRAY INC	63,709	$2.378M	0.5%	—	—	COM NEW	225223304
PCG	PG&E CORPORATION	54,960	$2.374M	0.5%	—	—	COM	69331C108
BAC	BANK OF AMERICA CORP	137,900	$2.372M	0.5%	—	—	COM	060505104
—	ROWAN COS INC (FORMERLY ROWAN DRILLING)	70,000	$2.358M	0.5%	—	—	SHS CL A	G7665A101
TEVA	TEVA PHARMACEUTICAL-SP ADR	44,455	$2.349M	0.5%	—	—	COM	881624209
AR	ANTERO RESOURCES CORP	37,200	$2.329M	0.5%	—	—	COM	03674X106
—	URS CORP	48,475	$2.281M	0.5%	—	—	COM	903236107
TEX	TEREX CORP	50,950	$2.257M	0.5%	—	—	COM	880779103
UAL	UAL CORP	50,000	$2.232M	0.4%	—	—	COM	910047109
—	TRW AUTOMOTIVE HOLDINGS CORP	26,825	$2.189M	0.4%	—	—	COM	87264S106
MS	MORGAN STANLEY	69,225	$2.158M	0.4%	—	—	COM	617446448
IVZ	INVESCO LTD	57,300	$2.12M	0.4%	—	—	SHS	G491BT108
—	PARTNERRE LTD	20,350	$2.106M	0.4%	—	—	COM	G6852T105
BDX	BECTON DICKINSON & CO	17,625	$2.064M	0.4%	—	—	COM	075887109
STT	STATE STREET CORP	29,375	$2.043M	0.4%	—	—	COM	857477103
OC	OWENS CORNING	45,450	$1.962M	0.4%	—	—	COM	690742101
DIOD	DIODES INC	74,800	$1.954M	0.4%	—	—	COM	254543101
—	HOSPITALITY PROPERTIES TRUST	67,350	$1.934M	0.4%	—	—	COM SHS	44106M102
NWS	NEWS CORP - CLASS B	115,750	$1.933M	0.4%	—	—	CL B	65249B208
MUSA	MURPHY USA INC	47,250	$1.918M	0.4%	—	—	COM	626755102
RGA	REINSURANCE GROUP OF AMERICA	24,000	$1.911M	0.4%	—	—	COM NEW	759351604
PIPR	PIPER JAFFRAY COS	40,970	$1.876M	0.4%	—	—	COM	724078100
VRTS	VIRTUS INVESTMENT PARTNERS	10,795	$1.869M	0.4%	—	—	COM	92828Q109
—	RICE ENERGY INC	70,000	$1.847M	0.4%	—	—	COM	762760106
TPC	TUTOR PERINI CORP	62,925	$1.804M	0.4%	—	—	COM	901109108
—	LABORATORY CRP OF AMER HLDGS	18,250	$1.792M	0.4%	—	—	COM NEW	50540R409
PH	PARKER HANNIFIN CORP	14,950	$1.79M	0.4%	—	—	COM	701094104
DAN	DANA HOLDING CORP	75,699	$1.762M	0.4%	—	—	COM	235825205
—	ASPEN INSURANCE HOLDINGS LTD	42,200	$1.675M	0.3%	—	—	SHS	G05384105
—	PHOTOMEDEX INC	104,770	$1.659M	0.3%	—	—	COM	719358301
—	EMC CORPORATION COMMON STOCK	60,000	$1.645M	0.3%	—	—	COM	268648102
—	DOW CHEMICAL CORP COMMON STOCK	33,820	$1.643M	0.3%	—	—	COM	260543103
—	ARGO GROUP INTERNATIONAL	35,225	$1.615M	0.3%	—	—	COM	G0464B107
—	OCI PARTNERS LP	75,000	$1.608M	0.3%	—	—	COM UNIT REP LP	67091N108
—	ACTUANT CORP-CL A	46,775	$1.597M	0.3%	—	—	CL A	00508X203
TTEK	TETRA TECH INC	53,825	$1.593M	0.3%	—	—	COM	88162G103
—	GENTIVA HEALTH SERVICES	173,033	$1.578M	0.3%	—	—	COM	37247A102
CSCO	CISCO SYSTEMS INC	70,000	$1.569M	0.3%	—	—	COM	17275R102
—	BLUEKNIGHT ENERGY PARTNERS LP	168,863	$1.503M	0.3%	—	—	COM UNIT	09625U109
—	BBCN BANCORP INC	86,450	$1.482M	0.3%	—	—	COM	073295107
NSIT	INSIGHT ENTERPRISES INC	58,968	$1.481M	0.3%	—	—	COM	45765U103
OMC	OMNICOM GROUP	20,300	$1.474M	0.3%	—	—	COM	681919106
—	CON-WAY INC	35,850	$1.473M	0.3%	—	—	COM	205944101
—	FOREST CITY ENTERPRISES-CL A	76,827	$1.467M	0.3%	—	—	CL A	345550107
—	WELLCARE GROUP INC	22,885	$1.454M	0.3%	—	—	COM	94946T106
BK	BANK OF NEW YORK_MELLON COMMON STK	40,217	$1.419M	0.3%	—	—	COM	064058100
BRC	BRADY CORPORATION - CL A	52,150	$1.416M	0.3%	—	—	CL A	104674106
—	GRANITE REAL ESTATE INVESTMENT TRST	39,000	$1.414M	0.3%	—	—	UNIT	387437114
—	NATL PENN BCSHS INC	132,900	$1.389M	0.3%	—	—	COM	637138108
—	TCF FINANCIAL CORP	81,500	$1.358M	0.3%	—	—	COM	872275102
—	GENERAL MOTORS-CW16	54,576	$1.356M	0.3%	—	—	WARRANT	37045V118
WBS	WEBSTER FINANCIAL CORP	43,400	$1.348M	0.3%	—	—	COM	947890109
—	SYNOVUS FINANCIAL CORP	395,125	$1.339M	0.3%	—	—	COM	87161C105
AAPL	APPLE COMPUTER INC	2,475	$1.328M	0.3%	—	—	COM	037833100
CHE	CHEMED CORP	14,675	$1.313M	0.3%	—	—	COM	16359R103
PRI	PRIMERICA INC	27,356	$1.289M	0.3%	—	—	COM	74164M108
DRH	DIAMONDROCK HOSPITALITY CO	105,771	$1.243M	0.2%	—	—	COM	252784301
—	JIVE SOFTWARE INC	152,115	$1.218M	0.2%	—	—	COM	47760A108
—	MONSTER WORLDWIDE INC	160,675	$1.202M	0.2%	—	—	COM	611742107
MWA	MUELLER WATER PRODUCTS INC-A	122,925	$1.168M	0.2%	—	—	COM	624758108
—	AMERICAN EQUITY INVT LIFE HL	48,900	$1.155M	0.2%	—	—	COM	025676206
CMCO	COLUMBUS MCKINNON CORP/NY	42,793	$1.146M	0.2%	—	—	COM	199333105
—	PHH CORP	43,425	$1.122M	0.2%	—	—	COM	693320202
ASB	ASSOCIATED BANC-CORP	61,850	$1.116M	0.2%	—	—	COM	045487105
—	SCHNITZER STEEL INDS INC-A	38,650	$1.115M	0.2%	—	—	CL A	806882106
—	INGRAM MICRO INC-CL A	37,375	$1.105M	0.2%	—	—	CL A	457153104
CRS	CARPENTER TECHNOLOGY	16,600	$1.096M	0.2%	—	—	COM	144285103
NRG	NRG ENERGY INC	34,446	$1.095M	0.2%	—	—	COM NEW	629377508
GFF	GRIFFON CORPORATION	89,919	$1.074M	0.2%	—	—	COM	398433102
ABT	ABBOTT LABORATORIES	27,725	$1.068M	0.2%	—	—	COM	002824100
—	VCA ANTECH INC	32,850	$1.059M	0.2%	—	—	COM	918194101
—	ARRIS CORP	37,100	$1.045M	0.2%	—	—	COM	04270V106
—	GOOGLE INC-CL A	935	$1.042M	0.2%	—	—	CL A	38259P508
—	OCEAN RIG UDW INC	57,444	$1.022M	0.2%	—	—	SHS	Y64354205
IOSP	INORG CHEM NEC	21,698	$981K	0.2%	—	—	COM	45768S105
—	WALTER INDUSTRIES INC	123,419	$933K	0.2%	—	—	COM	93317Q105
—	BARNES & NOBLE INC	44,571	$932K	0.2%	—	—	COM	067774109
—	ICONIX BRAND GROUP INC	23,300	$915K	0.2%	—	—	COM	451055107
MLKN	HERMAN MILLER INC	27,075	$870K	0.2%	—	—	COM	600544100
SRI	STONERIDGE INC	76,900	$864K	0.2%	—	—	COM	86183P102
—	ARC DOCUMENT SOLUTIONS INC	114,450	$852K	0.2%	—	—	COM	00191G103
—	GOVERNMENT PROPERTIES INCOME	32,100	$809K	0.2%	—	—	COM SHS BEN INT	38376A103
NG	NOVAGOLD RESOURCES INC	221,363	$799K	0.2%	—	—	COM NEW	66987E206
—	FIRST MIDWEST BANCORP INC/IL	46,700	$798K	0.2%	—	—	COM	320867104
MATW	MATTHEWS INTL CORP-CLASS A	19,325	$789K	0.2%	—	—	CL A	577128101
NVRI	HARSCO CORP	33,300	$780K	0.2%	—	—	COM	415864107
LEN/B	LENNAR CORP - B SHS	22,780	$744K	0.1%	—	—	CL B	526057302
—	LEXMARK INTL GROUP INC-CL A	15,700	$727K	0.1%	—	—	CL A	529771107
—	TUPPERWARE CORP	8,600	$720K	0.1%	—	—	COM	899896104
KALU	KAISER ALUMINUM CORP	10,000	$714K	0.1%	—	—	COM	483007704
—	GREAT PLAINS ENERGY INC	26,300	$711K	0.1%	—	—	COM	391164100
FCNCA	FIRST CITIZENS BCSHS -CL A	2,945	$709K	0.1%	—	—	CL A	31946M103
—	GLOBAL CASH ACCESS INC	99,616	$683K	0.1%	—	—	COM	378967103
FHN	FIRST HORIZON NATIONAL CORP	54,000	$666K	0.1%	—	—	COM	320517105
TMO	THERMO FISHER SCIENTIFIC INC COMMON STOCK	5,458	$656K	0.1%	—	—	COM	883556102
—	CASTLE (A.M.) & CO	44,200	$649K	0.1%	—	—	COM	148411101
—	CASH AMERICA INTL INC	16,700	$647K	0.1%	—	—	COM	14754D100
KO	COCA COLA CO COMMON STOCK	16,600	$642K	0.1%	—	—	COM	191216100
EZPW	EZCORP INC-CL A	58,500	$631K	0.1%	—	—	CL A	302301106
—	ENDO INTERNATIONAL PLC	9,167	$629K	0.1%	—	—	SHS	G30401106
WLY	WILEY (JOHN) & SONS-CLASS A	10,800	$623K	0.1%	—	—	CL A	968223206
—	ENGILITY HOLDINGS INC - W/I	13,130	$592K	0.1%	—	—	COM	29285W104
—	PARK STERLING CORP	88,966	$592K	0.1%	—	—	COM	70086Y105
CDVIQ	CAL DIVE INTERNATIONAL INC	317,900	$540K	0.1%	—	—	COM	12802T101
WSFS	WSFS FINANCIAL CORP	7,525	$538K	0.1%	—	—	COM	929328102
—	CLIFFS NATURAL RESOURCES INC	26,255	$537K	0.1%	—	—	COM	18683K101
—	UNITED STATIONERS INC	12,350	$507K	0.1%	—	—	COM	913004107
—	HESS CORP	6,055	$502K	0.1%	—	—	COM	42809H107
SAIC	SCIENCE APPLICATIONS INTE	13,200	$494K	0.1%	—	—	COM	808625107
THC	TENET HEALTHCARE CORP	11,125	$476K	0.1%	—	—	COM NEW	88033G407
AGX	ARGAN INC	14,551	$433K	0.1%	—	—	COM	04010E109
UEC	URANIUM ENERGY CORP	320,100	$423K	0.1%	—	—	COM	916896103
POR	PORTLAND GENERAL ELECTRIC	12,700	$411K	0.1%	—	—	COM	736508847
TITN	TITAN MACHINERY INC	25,400	$398K	0.1%	—	—	COM	88830R101
—	KAPSTONE PAPER AND PACKAGING	13,400	$386K	0.1%	—	—	COM	48562P103
UFPT	UFP TECHNOLOGIES INC	14,443	$352K	0.1%	—	—	COM	902673102
—	COVANTA HOLDING CORP	19,107	$332K	0.1%	—	—	COM	22282E102
—	HEALTH INSURANCE INNOVATIO-A	31,000	$321K	0.1%	—	—	COM CL A	42225K106
CALY	CALLAWAY GOLF COMPANY	31,200	$319K	0.1%	—	—	COM	131193104
MLR	MILLER INDUSTRIES INC/TENN	16,262	$318K	0.1%	—	—	COM	600551204
—	XL GROUP PLC	10,100	$316K	0.1%	—	—	SHS	G98290102
NNI	NELNET INC-CL A	7,300	$299K	0.1%	—	—	CL A	64031N108
MERC	MERCER INTERNATIONAL INC	38,500	$289K	0.1%	—	—	COM	588056101
—	BANCORPSOUTH INC	11,005	$275K	0.1%	—	—	COM	059692103
—	WET SEAL INC/THE CLASS A	70,400	$93,000	0.0%	—	—	CL A	961840105