Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GLD	SPDR GOLD TRUST GOLD	250,000	$29.05M	5.6%	—	—	SHS	78463V107
MSFT	MICROSOFT CORP	332,826	$15.43M	3.0%	—	—	COM	594918104
MC	MOELIS & CO	436,675	$14.91M	2.9%	—	—	CL A	60786M105
—	ANADARKO PETE CORP	136,621	$13.86M	2.7%	—	—	COM	032511107
ORCL	ORACLE CORP	306,725	$11.74M	2.3%	—	—	COM	68389X105
PFE	PFIZER INC	381,626	$11.29M	2.2%	—	—	COM	717081103
—	COVANTA HLDG CORP	520,079	$11.04M	2.1%	—	—	COM	22282E102
OXY	OCCIDENTAL PETE CORP DEL	113,345	$10.9M	2.1%	—	—	COM	674599105
LNC	LINCOLN NATL CORP IND	195,000	$10.45M	2.0%	—	—	COM	534187109
JPM	JPMORGAN CHASE & CO	171,175	$10.31M	2.0%	—	—	COM	46625H100
TRV	TRAVELERS COMPANIES INC	100,000	$9.394M	1.8%	—	—	COM	89417E109
MET	METLIFE INC	161,075	$8.653M	1.7%	—	—	COM	59156R108
—	ENBRIDGE ENERGY PARTNERS L P	220,000	$8.547M	1.6%	—	—	COM	29250R106
C	CITIGROUP INC	161,386	$8.363M	1.6%	—	—	COM NEW	172967424
—	APACHE CORP	85,000	$7.979M	1.5%	—	—	COM	037411105
AIZ	ASSURANT INC	121,150	$7.79M	1.5%	—	—	COM	04621X108
—	AETNA INC NEW	90,000	$7.29M	1.4%	—	—	COM	00817Y108
DAL	DELTA AIR LINES INC DEL	170,280	$6.156M	1.2%	—	—	COM NEW	247361702
—	HEWLETT PACKARD CO	167,380	$5.937M	1.1%	—	—	COM	428236103
—	PIONEER NAT RES CO	29,000	$5.712M	1.1%	—	—	COM	723787107
DE	DEERE & CO	66,900	$5.485M	1.1%	—	—	COM	244199105
—	COMCAST CORP NEW	100,000	$5.35M	1.0%	—	—	CL A	20030N200
—	RENTECH NITROGEN PARTNERS L	406,148	$5.052M	1.0%	—	—	COM UNIT	760113100
—	SANDISK CORP	51,000	$4.995M	1.0%	—	—	COM	80004C101
GM	GENERAL MTRS CO	155,940	$4.981M	1.0%	—	—	COM	37045V100
AAL	AMERICAN AIRLS GROUP INC	140,000	$4.967M	1.0%	—	—	COM	02376R102
IBM	INTERNATIONAL BUSINESS MACHS	25,000	$4.746M	0.9%	—	—	COM	459200101
ETN	EATON CORP PLC	69,470	$4.402M	0.8%	—	—	SHS	G29183103
ON	ON SEMICONDUCTOR CORP	490,825	$4.388M	0.8%	—	—	COM	682189105
PHM	PULTE GROUP INC	245,000	$4.327M	0.8%	—	—	COM	745867101
JNJ	JOHNSON & JOHNSON	40,370	$4.303M	0.8%	—	—	COM	478160104
—	NEWCASTLE INVT CORP NEW	338,605	$4.294M	0.8%	—	—	COM NEW	65105M504
DVN	DEVON ENERGY CORP NEW	59,500	$4.057M	0.8%	—	—	COM	25179M103
FDX	FEDEX CORP	25,000	$4.036M	0.8%	—	—	COM	31428X106
—	FOREST CITY ENTERPRISES INC	206,132	$4.032M	0.8%	—	—	CL A	345550107
NWSA	NEWS CORP NEW	238,975	$3.907M	0.7%	—	—	CL A	65249B109
—	CVR PARTNERS LP	275,000	$3.776M	0.7%	—	—	COM	126633106
UAL	UNITED CONTL HLDGS INC	80,000	$3.743M	0.7%	—	—	COM	910047109
BP	BP PLC	82,907	$3.644M	0.7%	—	—	SPONSORED ADR	055622104
AVT	AVNET INC	85,350	$3.542M	0.7%	—	—	COM	053807103
—	BARRICK GOLD CORP	238,794	$3.501M	0.7%	—	—	COM	067901108
—	ROYAL DUTCH SHELL PLC	44,532	$3.39M	0.7%	—	—	SPONSORED ADR	780259206
AIG	AMERICAN INTL GROUP INC	61,900	$3.344M	0.6%	—	—	COM NEW	026874784
—	WPX ENERGY INC	133,471	$3.211M	0.6%	—	—	COM	98212B103
—	STAPLES INC	264,428	$3.2M	0.6%	—	—	COM	855030102
TEX	TEREX CORP NEW	99,000	$3.145M	0.6%	—	—	COM	880779103
—	CIGNA CORPORATION	34,450	$3.124M	0.6%	—	—	COM	125509109
—	SUPERIOR ENERGY SVCS INC	93,200	$3.063M	0.6%	—	—	COM	868157108
—	LAMAR ADVERTISING CO	61,050	$3.007M	0.6%	—	—	CL A	512815101
STT	STATE STR CORP	39,725	$2.924M	0.6%	—	—	COM	857477103
MS	MORGAN STANLEY	83,575	$2.889M	0.6%	—	—	COM NEW	617446448
—	QEP MIDSTREAM PARTNERS LP	121,779	$2.885M	0.6%	—	—	COM UNIT RP LTD	74735R115
BAC	BANK AMER CORP	168,675	$2.876M	0.6%	—	—	COM	060505104
—	MEDTRONIC INC	46,390	$2.874M	0.6%	—	—	COM	585055106
GS	GOLDMAN SACHS GROUP INC	15,075	$2.767M	0.5%	—	—	COM	38141G104
ABT	ABBOTT LABS	65,825	$2.738M	0.5%	—	—	COM	002824100
—	TRW AUTOMOTIVE HLDGS CORP	27,000	$2.734M	0.5%	—	—	COM	87264S106
VOYA	VOYA FINL INC	66,375	$2.595M	0.5%	—	—	COM	929089100
PNC	PNC FINL SVCS GROUP INC	30,069	$2.573M	0.5%	—	—	COM	693475105
XOM	EXXON MOBIL CORP	26,475	$2.49M	0.5%	—	—	COM	30231G102
—	MASONITE INTL CORP NEW	44,750	$2.478M	0.5%	—	—	COM	575385109
PPL	PPL CORP	74,645	$2.451M	0.5%	—	—	COM	69351T106
INTC	INTEL CORP	68,725	$2.393M	0.5%	—	—	COM	458140100
—	GENTIVA HEALTH SERVICES INC	141,758	$2.379M	0.5%	—	—	COM	37247A102
—	STANDARD PAC CORP NEW	315,000	$2.359M	0.5%	—	—	COM	85375C101
UPBD	RENT A CTR INC NEW	76,925	$2.335M	0.4%	—	—	COM	76009N100
—	DOW CHEM CO	44,445	$2.331M	0.4%	—	—	COM	260543103
—	DENBURY RES INC	155,000	$2.33M	0.4%	—	—	COM	247916208
DHI	D R HORTON INC	113,000	$2.319M	0.4%	—	—	COM	23331A109
KO	COCA COLA CO	53,590	$2.286M	0.4%	—	—	COM	191216100
CNO	CNO FINL GROUP INC	132,500	$2.247M	0.4%	—	—	COM	12621E103
—	PARTNERRE LTD	20,350	$2.236M	0.4%	—	—	COM	G6852T105
—	ECLIPSE RES CORP	133,600	$2.22M	0.4%	—	—	COM	27890G100
—	LEGG MASON INC	42,500	$2.174M	0.4%	—	—	COM	524901105
—	HERTZ GLOBAL HOLDINGS INC	84,645	$2.149M	0.4%	—	—	COM	42805T105
—	OCI PARTNERS LP	100,000	$2.148M	0.4%	—	—	COM UNIT REP LP	67091N108
PH	PARKER HANNIFIN CORP	18,575	$2.12M	0.4%	—	—	COM	701094104
BDX	BECTON DICKINSON & CO	18,000	$2.049M	0.4%	—	—	COM	075887109
—	INTERPUBLIC GROUP COS INC	111,200	$2.037M	0.4%	—	—	COM	460690100
—	PINNACLE FOODS INC DEL	61,720	$2.015M	0.4%	—	—	COM	72348P104
RGA	REINSURANCE GROUP AMER INC	24,000	$1.923M	0.4%	—	—	COM NEW	759351604
—	BAKER HUGHES INC	29,300	$1.906M	0.4%	—	—	COM	057224107
VRTS	VIRTUS INVT PARTNERS INC	10,795	$1.875M	0.4%	—	—	COM	92828Q109
NWS	NEWS CORP NEW	115,750	$1.867M	0.4%	—	—	CL B	65249B208
—	ENSCO PLC	44,500	$1.838M	0.4%	—	—	SHS CL A	G3157S106
—	HOSPITALITY PPTYS TR	67,350	$1.808M	0.3%	—	—	COM SH BEN INT	44106M102
CSCO	CISCO SYS INC	70,000	$1.762M	0.3%	—	—	COM	17275R102
—	E M C CORP MASS	60,000	$1.756M	0.3%	—	—	COM	268648102
—	JIVE SOFTWARE INC	296,284	$1.727M	0.3%	—	—	COM	47760A108
TEVA	TEVA PHARMACEUTICAL INDS LTD	31,770	$1.708M	0.3%	—	—	ADR	881624209
ASB	ASSOCIATED BANC CORP	96,350	$1.678M	0.3%	—	—	COM	045487105
—	CRAY INC	63,709	$1.672M	0.3%	—	—	COM NEW	225223304
—	WELLCARE HEALTH PLANS INC	27,685	$1.671M	0.3%	—	—	COM	94946T106
—	TECH DATA CORP	28,150	$1.657M	0.3%	—	—	COM	878237106
AR	ANTERO RES CORP	30,000	$1.647M	0.3%	—	—	COM	03674X106
—	ROWAN COMPANIES PLC	65,000	$1.645M	0.3%	—	—	SHS CL A	G7665A101
—	URS CORP NEW	28,525	$1.643M	0.3%	—	—	COM	903236107
TTEK	TETRA TECH INC NEW	65,450	$1.635M	0.3%	—	—	COM	88162G103
IP	INTL PAPER CO	33,990	$1.623M	0.3%	—	—	COM	460146103
—	UNITED STATIONERS INC	42,375	$1.592M	0.3%	—	—	COM	913004107
BK	BANK NEW YORK MELLON CORP	40,217	$1.558M	0.3%	—	—	COM	064058100
—	ACTUANT CORP	50,800	$1.55M	0.3%	—	—	CL A NEW	00508X203
—	OCEAN RIG UDW INC	95,644	$1.542M	0.3%	—	—	SHS	Y64354205
KBH	KB HOME	100,000	$1.494M	0.3%	—	—	COM	48666K109
OC	OWENS CORNING NEW	45,450	$1.443M	0.3%	—	—	COM	690742101
MLKN	MILLER HERMAN INC	48,275	$1.441M	0.3%	—	—	COM	600544100
BRC	BRADY CORP	64,150	$1.44M	0.3%	—	—	CL A	104674106
WBS	WEBSTER FINL CORP CONN	49,150	$1.432M	0.3%	—	—	COM	947890109
—	SYNOVUS FINL CORP	59,796	$1.414M	0.3%	—	—	COM	87161C501
—	FIRST MIDWEST BANCORP DEL	87,375	$1.406M	0.3%	—	—	COM	320867104
OMC	OMNICOM GROUP INC	20,300	$1.398M	0.3%	—	—	COM	681919106
—	DRESSER-RAND GROUP INC	16,885	$1.389M	0.3%	—	—	COM	261608103
DIOD	DIODES INC	57,700	$1.38M	0.3%	—	—	COM	254543101
DRH	DIAMONDROCK HOSPITALITY CO	105,771	$1.341M	0.3%	—	—	COM	252784301
NSIT	INSIGHT ENTERPRISES INC	58,968	$1.334M	0.3%	—	—	COM	45765U103
PRI	PRIMERICA INC	27,356	$1.319M	0.3%	—	—	COM	74164M108
—	NATIONAL PENN BANCSHARES INC	132,900	$1.29M	0.2%	—	—	COM	637138108
—	GRANITE REAL ESTATE INVT TR	37,300	$1.288M	0.2%	—	—	UNIT	387437114
—	TCF FINL CORP	81,500	$1.266M	0.2%	—	—	COM	872275102
CMCO	COLUMBUS MCKINNON CORP N Y	57,443	$1.263M	0.2%	—	—	COM	199333105
—	BBCN BANCORP INC	86,450	$1.261M	0.2%	—	—	COM	073295107
—	GENERAL MTRS CO	54,576	$1.221M	0.2%	—	—	WARRANT	37045V118
—	ARGO GROUP INTL HLDGS LTD	24,225	$1.219M	0.2%	—	—	COM	G0464B107
SRI	STONERIDGE INC	107,275	$1.209M	0.2%	—	—	COM	86183P102
TECK	TECK RESOURCES LTD	63,030	$1.191M	0.2%	—	—	CL B	878742204
DAN	DANA HLDG CORP	61,349	$1.176M	0.2%	—	—	COM	235825205
—	AMERICAN EQTY INVT LIFE HLD	48,900	$1.119M	0.2%	—	—	COM	025676206
MATW	MATTHEWS INTL CORP	25,300	$1.11M	0.2%	—	—	CL A	577128101
—	ARC DOCUMENT SOLUTIONS INC	134,100	$1.086M	0.2%	—	—	COM	00191G103
—	CON-WAY INC	22,325	$1.06M	0.2%	—	—	COM	205944101
NRG	NRG ENERGY INC	34,446	$1.05M	0.2%	—	—	COM NEW	629377508
GFF	GRIFFON CORP	89,919	$1.024M	0.2%	—	—	COM	398433102
CRS	CARPENTER TECHNOLOGY CORP	22,600	$1.02M	0.2%	—	—	COM	144285103
—	ARRIS GROUP INC NEW	34,900	$990K	0.2%	—	—	COM	04270V106
MWA	MUELLER WTR PRODS INC	118,125	$978K	0.2%	—	—	COM SER A	624758108
—	PHH CORP	43,425	$971K	0.2%	—	—	COM	693320202
KBR	KBR INC	51,000	$960K	0.2%	—	—	COM	48242W106
TPC	TUTOR PERINI CORP	36,325	$959K	0.2%	—	—	COM	901109108
ROCK	GIBRALTAR INDS INC	68,101	$932K	0.2%	—	—	COM	374689107
—	SYMETRA FINL CORP	39,900	$931K	0.2%	—	—	COM	87151Q106
—	SCHNITZER STL INDS	38,650	$930K	0.2%	—	—	CL A	806882106
—	MARKET VECTORS ETF TR RUSSIA	40,000	$895K	0.2%	—	—	ETF	57060U506
IOSP	INNOSPEC INC	24,898	$894K	0.2%	—	—	COM	45768S105
—	ENDURANCE SPECIALTY HLDGS LT	16,200	$894K	0.2%	—	—	SHS	G30397106
—	MONSTER WORLDWIDE INC	160,675	$884K	0.2%	—	—	COM	611742107
—	RYLAND GROUP INC	26,000	$864K	0.2%	—	—	COM	783764103
UNM	UNUM GROUP	25,000	$860K	0.2%	—	—	COM	91529Y106
—	GOVERNMENT PPTYS INCOME TR	37,100	$813K	0.2%	—	—	COM SHS BEN INT	38376A103
—	ASPEN INSURANCE HOLDINGS LTD	18,625	$797K	0.2%	—	—	SHS	G05384105
KALU	KAISER ALUMINUM CORP	10,000	$762K	0.1%	—	—	COM	483007704
—	CLIFFS NAT RES INC	73,115	$759K	0.1%	—	—	COM	18683K101
EZPW	EZCORP INC	73,300	$726K	0.1%	—	—	CL A NON VTG	302301106
LEN/B	LENNAR CORP	22,680	$726K	0.1%	—	—	CL B	526057302
FHN	FIRST HORIZON NATL CORP	56,300	$691K	0.1%	—	—	COM	320517105
NG	NOVAGOLD RES INC	221,363	$671K	0.1%	—	—	COM NEW	66987E206
TMO	THERMO FISHER SCIENTIFIC INC	5,458	$664K	0.1%	—	—	COM	883556102
—	ICONIX BRAND GROUP INC	17,400	$643K	0.1%	—	—	COM	451055107
FCNCA	FIRST CTZNS BANCSHARES INC N	2,945	$638K	0.1%	—	—	CL A	31946M103
—	TUPPERWARE BRANDS CORP	9,000	$621K	0.1%	—	—	COM	899896104
—	ENERGY XXI BERMUDA LTD	53,200	$604K	0.1%	—	—	USD UNRS SHS	G10082140
—	PARK STERLING CORP	88,966	$590K	0.1%	—	—	COM	70086Y105
MUSA	MURPHY USA INC	10,650	$565K	0.1%	—	—	COM	626755102
—	GREAT PLAINS ENERGY INC	23,300	$563K	0.1%	—	—	COM	391164100
—	CASH AMER INTL INC	12,800	$561K	0.1%	—	—	COM	14754D100
—	ENDO INTL PLC	8,167	$558K	0.1%	—	—	SHS	G30401106
ACH	OWENS & MINOR INC NEW	17,000	$557K	0.1%	—	—	COM	690732102
PIPR	PIPER JAFFRAY COS	10,645	$556K	0.1%	—	—	COM	724078100
—	GOOGLE INC	935	$550K	0.1%	—	—	CL A	38259P508
SAIC	SCIENCE APPLICATNS INTL	12,400	$548K	0.1%	—	—	COM	808625107
—	GOOGLE INC	935	$540K	0.1%	—	—	CL C	38259P706
WSFS	WSFS FINL CORP	7,525	$539K	0.1%	—	—	COM	929328102
—	BLUEKNIGHT ENERGY PARTNERS L	64,863	$534K	0.1%	—	—	COM UNIT	09625U109
NVRI	HARSCO CORP	24,900	$533K	0.1%	—	—	COM	415864107
—	GENERAL CABLE CORP DEL NEW	34,350	$518K	0.1%	—	—	COM	369300108
TITN	TITAN MACHY INC	37,373	$485K	0.1%	—	—	COM	88830R101
—	LEXMARK INTL NEW	11,300	$480K	0.1%	—	—	CL A	529771107
TRS	TRIMAS CORP	19,150	$466K	0.1%	—	—	COM NEW	896215209
MERC	MERCER INTL INC	43,300	$422K	0.1%	—	—	COM	588056101
POR	PORTLAND GEN ELEC CO	12,700	$408K	0.1%	—	—	COM NEW	736508847
—	CASTLE A M & CO	44,200	$377K	0.1%	—	—	COM	148411101
—	KAPSTONE PAPER & PACKAGING C	13,400	$375K	0.1%	—	—	COM	48562P103
NNI	NELNET INC	7,900	$340K	0.1%	—	—	CL A	64031N108
CDVIQ	CAL DIVE INTL INC DEL	350,500	$340K	0.1%	—	—	COM	12802T101
—	GLOBAL CASH ACCESS HLDGS INC	49,816	$336K	0.1%	—	—	COM	378967103
THC	TENET HEALTHCARE CORP	5,425	$322K	0.1%	—	—	COM NEW	88033G407
—	WALTER ENERGY INC	123,419	$289K	0.1%	—	—	COM	93317Q105
NAT	NORDIC AMERICAN TANKERS LIMI	36,400	$289K	0.1%	—	—	COM	G65773106
CALY	CALLAWAY GOLF CO	37,800	$274K	0.1%	—	—	COM	131193104
UFPT	UFP TECHNOLOGIES INC	12,143	$267K	0.1%	—	—	COM	902673102
AGX	ARGAN INC	7,951	$265K	0.1%	—	—	COM	04010E109
MLR	MILLER INDS INC TENN	13,273	$224K	0.0%	—	—	COM NEW	600551204
WLY	WILEY JOHN & SONS INC	3,948	$222K	0.0%	—	—	CL A	968223206
—	HEALTH INS INNOVATIONS INC	19,959	$215K	0.0%	—	—	COM CL A	42225K106
KTOS	KRATOS DEFENSE & SEC SOLUTIO	28,300	$186K	0.0%	—	—	COM NEW	50077B207
—	PHOTOMEDEX INC	25,500	$158K	0.0%	—	—	COM	719358301
—	WET SEAL INC	70,400	$37,000	0.0%	—	—	CL A	961840105