Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MU	MICRON TECHNOLOGY	27,025,194	$387M	8.4%	$10.81	0.0%	COM	595112103
—	INGRAM MICRO	13,659,131	$259M	5.6%	$18.99	—	COM	457153104
LUV	SOUTHWEST AIRLINES	14,867,327	$192M	4.2%	$11.86	0.0%	COM	844741108
JBLU	JETBLUE AIRWAYS	29,313,713	$184M	4.0%	$6.54	0.0%	COM	477143101
—	WPX ENERGY INC	9,660,214	$183M	4.0%	$18.94	—	COM	98212B103
AER	AERCAP HOLDINGS	10,371,253	$181M	3.9%	$16.06	0.0%	COM	N00985106
—	PLATINUM UNDERWRITERS	2,788,718	$160M	3.5%	$57.22	—	COM	G7127P100
—	AMERICAN NATIONAL	1,591,286	$158M	3.4%	$99.47	—	COM	028591105
AFLYY	AIR FRANCE-KLM	15,778,152	$143M	3.1%	$9.05	—	COM	009119108
—	YAMANA GOLD	14,442,835	$137M	3.0%	$9.51	—	COM	98462Y100
—	GRANITE REAL ESTATE INVESTMENT TRUST	3,929,165	$136M	2.9%	$34.55	—	COM	387437114
—	RESOLUTE FOREST PRODUCTS	9,728,069	$128M	2.8%	$13.17	—	COM	76117W109
CNA	CNA FINANCIAL CORP.	3,700,493	$121M	2.6%	$13.70	0.0%	COM	126117100
—	XL GROUP	3,864,853	$117M	2.5%	$30.32	—	COM	G98290102
—	CELESTICA	12,302,151	$116M	2.5%	$9.45	—	COM	15101Q108
UNM	UNUM GROUP	3,933,021	$116M	2.5%	$27.85	0.0%	COM	91529Y106
SANM	SANMINA CORPORATION	7,939,250	$114M	2.5%	$12.85	0.0%	COM	801056102
CDE	COEUR MINING	7,603,259	$101M	2.2%	$14.55	0.0%	COM	192108504
AIG	AMERICAN INTERNATIONAL GROUP	2,241,694	$100M	2.2%	$32.51	0.0%	COM	026874784
—	AIRCASTLE	5,657,171	$90.46M	2.0%	$15.99	—	COM	G0129K104
RCL	ROYAL CARIBBEAN CRUISES	2,516,538	$83.9M	1.8%	$29.48	0.0%	COM	V7780T103
—	TECHDATA	1,697,877	$79.95M	1.7%	$47.09	—	COM	878237106
NRG	NRG ENERGY	2,863,898	$76.47M	1.7%	$20.46	0.0%	COM	629377508
DDS	DILLARD'S INC.	910,264	$74.61M	1.6%	$62.60	0.0%	COM	254067101
—	AURICO GOLD	16,248,026	$71M	1.5%	$4.37	—	COM	05155C105
EXC	EXELON CORP	2,269,955	$70.1M	1.5%	$15.41	0.0%	COM	30161N101
—	MONTPELIER RE HOLDINGS	2,698,982	$67.5M	1.5%	$25.01	—	COM	G62185106
EG	EVEREST RE GROUP	505,891	$64.89M	1.4%	$99.45	0.0%	COM	G3223R108
—	ADVANTAGE OIL AND GAS	16,164,160	$63.69M	1.4%	$3.94	—	COM	00765F101
HMN	HORACE MANN EDUCATORS	2,330,057	$56.81M	1.2%	$23.24	0.0%	COM	440327104
PLAB	PHOTRONICS	5,916,965	$47.69M	1.0%	$7.48	0.0%	COM	719405102
DAN	DANA HOLDING CORP	2,384,055	$45.92M	1.0%	$14.00	0.0%	COM	235825205
TM	TOYOTA MOTOR CORP	297,935	$35.95M	0.8%	$120.66	—	COM	892331307
—	RADIOSHACK CORP	9,978,081	$31.53M	0.7%	$3.16	—	COM	750438103
—	ALLIANCE ONE	8,084,091	$30.72M	0.7%	$3.80	—	COM	018772103
KEP	KOREA ELECTRIC POWER CORP	2,709,782	$30.65M	0.7%	$11.31	—	COM	500631106
L	LOEWS CORP	686,178	$30.47M	0.7%	$42.08	0.0%	COM	540424108
—	PARKER DRILLING COMPANY	5,715,309	$28.46M	0.6%	$4.98	—	COM	701081101
—	INTEGRATED SILICON SOLUTIONS, INC	2,539,231	$27.83M	0.6%	$10.96	—	COM	45812P107
VLO	VALERO ENERGY CORP	658,397	$22.89M	0.5%	$24.01	0.0%	COM	91913Y100
HVT	HAVERTY'S FURNITURE	985,813	$22.68M	0.5%	$23.50	0.0%	COM	419596101
—	NABORS INDUSTRIES	1,464,231	$22.42M	0.5%	$15.31	—	COM	G6359F103
DRH	DIAMONDROCK HOSPITALITY	2,353,288	$21.93M	0.5%	$9.32	—	COM	252784301
—	U S AIRWAYS GROUP INC	1,304,777	$21.42M	0.5%	$16.42	—	COM	90341W108
—	BRIDGEPOINT EDUCATION	1,730,726	$21.08M	0.5%	$12.18	—	COM	10807M105
—	TESORO CORP	375,668	$19.66M	0.4%	$52.32	—	COM	881609101
—	AXCELIS TECHNOLOGY	10,605,887	$19.3M	0.4%	$1.82	—	COM	054540109
—	OVERSEAS SHIPHOLDG GRP	4,227,487	$17.54M	0.4%	$4.15	—	COM	690368105
—	RUBY TUESDAY	1,800,510	$16.62M	0.4%	$9.23	—	COM	781182100
—	KIMBALL	1,700,882	$16.52M	0.4%	$9.71	—	COM	494274103
—	STANCORP FINANCIAL GROUP	314,812	$15.55M	0.3%	$49.41	—	COM	852891100
—	TRIQUINT SEMICONDUCTOR	2,159,864	$14.97M	0.3%	$6.93	—	COM	89674K103
BANR	BANNER CORPORATION	425,544	$14.38M	0.3%	$21.83	0.0%	COM	06652V208
—	PEPBOYS AUTO	1,199,874	$13.89M	0.3%	$11.58	—	COM	713278109
—	MFA FINANCIAL INC.	1,591,514	$13.45M	0.3%	$8.45	—	COM	55272X102
—	TECUMSEH PRODUCTS - A	1,194,950	$13.06M	0.3%	$10.93	—	COM	878895200
ORI	OLD REPUBLIC INTL	989,806	$12.74M	0.3%	$5.60	0.0%	COM	680223104
TXNM	PNM RESOURCES	524,485	$11.64M	0.3%	$22.83	0.0%	COM	69349H107
MHO	M/I HOMES	468,238	$10.75M	0.2%	$24.31	0.0%	COM	55305B101
BSET	BASSETT FURNITURE	687,964	$10.68M	0.2%	$8.53	0.0%	COM	070203104
NAT	NORDIC AMERICAN TANKERS	1,206,591	$9.134M	0.2%	$8.57	0.0%	COM	G65773106
UFI	UNIFI INC	436,115	$9.014M	0.2%	$19.66	0.0%	COM	904677200
GM	GENERAL MOTORS	240,971	$8.027M	0.2%	$23.62	0.0%	COM	37045V100
—	MATTSON TECHNOLOGY	3,633,556	$7.957M	0.2%	$2.19	—	COM	577223100
CVLG	COVENANT TRANSPORT	1,198,403	$7.478M	0.2%	$2.73	0.0%	COM	22284P105
—	PRIMERO MINING CORP	1,469,962	$6.6M	0.1%	$4.49	—	COM	74164W106
—	HORSEHEAD HOLDING CORP	485,721	$6.222M	0.1%	$12.81	—	COM	440694305
CENX	CENTURY ALUMINUM COMPANY	627,284	$5.821M	0.1%	$8.61	0.0%	COM	156431108
—	USA TRUCK INC	861,240	$5.546M	0.1%	$6.44	—	COM	902925106
—	TECUMSEH PRODUCTS - B	483,239	$5.345M	0.1%	$11.06	—	COM	878895101
PTEN	PATTERSON-UTI ENERGY INC	276,005	$5.342M	0.1%	$21.83	0.0%	COM	703481101
—	NATUZZI SPA	2,094,722	$4.546M	0.1%	$2.17	—	COM	63905A101
—	KANSAS CITY LIFE	108,712	$4.16M	0.1%	$38.27	—	COM	484836101
—	SCORPIO TANKERS	460,259	$4.133M	0.1%	$8.98	—	COM	050183041
PAMT	P.A.M. TRANSPORTATION SVCS	389,703	$3.994M	0.1%	$2.69	0.0%	COM	693149106
NEM	NEWMONT MINING	124,040	$3.715M	0.1%	$25.34	0.0%	COM	651639106
—	STEEL EXCEL INC	89,360	$2.591M	0.1%	$29.00	—	COM	858122104
—	CST BRANDS	72,885	$2.246M	0.0%	$30.82	—	COM	12646R105
—	VOXX INTERNATIONAL CORP	112,600	$1.382M	0.0%	$12.27	—	COM	91829F104
—	IMATION CORP	322,833	$1.366M	0.0%	$4.23	—	COM	45245A107
—	CARROL'S RESTAURANT GROUP	211,143	$1.364M	0.0%	$6.46	—	COM	14574X104
—	USEC, INC.	3,396,850	$996K	0.0%	$0.29	—	COM	90333E207
—	ALLIED NEVADA	151,350	$981K	0.0%	$6.48	—	COM	019344100
—	UTSTARCOM	258,300	$687K	0.0%	$2.66	—	COM	G9310A114
—	STANLEY FURNITURE	121,292	$485K	0.0%	$4.00	—	COM	854305208
SYPR	SYPRIS SOLUTIONS	143,212	$460K	0.0%	$3.34	0.0%	COM	871655106
—	HUTCHINSON TECHNOLOGY	96,800	$458K	0.0%	$4.73	—	COM	448407106
—	TUESDAY MORNING	5,938	$62,000	0.0%	$10.44	—	COM	899035505
—	NORD RESOURCES	507,100	$10,000	0.0%	$0.02	—	COM	655555100
—	Marriott International Fractional cusip	84,954	$0	0.0%	—	—	WTS	EKE55U103
—	Kinder Morgan fractional cusip	3,667	$0	0.0%	—	—	WTS	FHB903208