Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	HUDSON CITY BANCORP	13,421,093	$123M	13.2%	$9.16	—	—	443683107
—	STEWART ENTERPRISES INC	5,049,950	$66.1M	7.1%	$13.09	—	—	860370105
—	LUFKIN INDS INC	680,337	$60.19M	6.5%	$88.47	—	—	549764108
—	EXACTTARGET INC	1,450,900	$48.92M	5.3%	$33.72	—	—	30064K105
—	MARKET VECTORS ETF TR	1,471,869	$42.58M	4.6%	$28.93	—	—	57060U753
EWY	ISHARES INC	774,178	$41.19M	4.4%	$53.20	—	—	464286772
—	COLONIAL PPTYS TR	1,525,000	$36.78M	4.0%	$24.12	—	—	195872106
PEB	PEBBLEBROOK HOTEL TR	1,095,874	$29.61M	3.2%	$27.02	—	—	70509V100
FXI	ISHARES TR	846,782	$27.54M	3.0%	$32.52	—	—	464287184
—	COMMONWEALTH REIT	1,112,595	$25.72M	2.8%	$23.12	—	—	203233101
—	BELO CORP	1,707,460	$23.82M	2.6%	$13.95	—	—	080555105
IVV	ISHARES TR	143,865	$23.16M	2.5%	$160.97	—	—	464287200
SCI	SERVICE CORP INTL	1,277,659	$23.04M	2.5%	$17.02	0.0%	—	817565104
—	NYSE EURONEXT	492,004	$20.37M	2.2%	$41.40	—	—	629491101
—	AMERICA MOVIL SAB DE CV	918,423	$19.98M	2.1%	$21.75	—	—	02364W105
—	BERRY PETE CO	375,213	$15.88M	1.7%	$42.32	—	—	085789105
—	BARCLAYS BK PLC	246,392	$13.19M	1.4%	$53.52	—	—	06739F291
—	MARKET LEADER INC	1,187,301	$12.7M	1.4%	$10.70	—	—	57056R103
—	POWERSHARES ETF TRUST II	424,916	$12.43M	1.3%	$29.25	—	—	73936Q702
VEA	VANGUARD TAX MANAGED INTL FD	338,083	$12.04M	1.3%	$35.61	—	—	921943858
—	GARDNER DENVER INC	150,000	$11.28M	1.2%	$75.18	—	—	365558105
—	VIRGINIA COMM BANCORP INC	777,747	$10.86M	1.2%	$13.96	—	—	92778Q109
—	VANGUARD HEALTH SYS INC	479,339	$9.941M	1.1%	$20.74	—	—	922036207
—	NV ENERGY INC	400,000	$9.384M	1.0%	$23.46	—	—	67073Y106
—	MOBILE TELESYSTEMS OJSC	473,106	$8.961M	1.0%	$18.94	—	—	607409109
FMX	FOMENTO ECONOMICO MEXICANO S	80,742	$8.332M	0.9%	$103.19	—	—	344419106
MDY	SPDR S&P MIDCAP 400 ETF TR	39,500	$8.31M	0.9%	$210.38	—	—	78467Y107
VIG	VANGUARD SPECIALIZED PORTFOL	115,798	$7.666M	0.8%	$66.20	—	—	921908844
BAP	CREDICORP LTD	58,451	$7.479M	0.8%	$104.41	0.0%	—	G2519Y108
—	SEARS HLDGS CORP	177,640	$7.475M	0.8%	$42.08	—	—	812350106
VWO	VANGUARD INTL EQUITY INDEX F	179,549	$6.963M	0.7%	$38.78	—	—	922042858
—	BMC SOFTWARE INC	150,000	$6.771M	0.7%	$45.14	—	—	055921100
—	ATLAS ENERGY LP	135,410	$6.634M	0.7%	$48.99	—	—	04930A104
—	POWERSHS DB MULTI SECT COMM	240,668	$6.546M	0.7%	$27.20	—	—	73936B101
—	NETSPEND HLDGS INC	401,566	$6.413M	0.7%	$15.97	—	—	64118V106
CX	CEMEX SAB DE CV	516,164	$5.461M	0.6%	$10.58	—	—	151290889
—	POWERSHS DB MULTI SECT COMM	210,483	$5.243M	0.6%	$24.91	—	—	73936B408
—	FIRST FINL HLDGS INC	246,486	$5.228M	0.6%	$21.21	—	—	320239106
—	ISHARES INC	297,940	$4.633M	0.5%	$15.55	—	—	464286830
IJH	ISHARES TR	39,726	$4.588M	0.5%	$115.49	—	—	464287507
TV	GRUPO TELEVISA SA	181,750	$4.515M	0.5%	$24.84	—	—	40049J206
—	CHINA MOBILE LIMITED	84,525	$4.376M	0.5%	$51.77	—	—	16941M109
—	CHESAPEAKE ENERGY CORP	208,275	$4.245M	0.5%	$20.38	—	—	165167107
AZO	AUTOZONE INC	9,552	$4.047M	0.4%	$407.86	0.0%	—	053332102
WMB	WILLIAMS COS INC DEL	122,134	$3.966M	0.4%	$18.03	0.0%	—	969457100
IWM	ISHARES TR	38,889	$3.778M	0.4%	$97.15	—	—	464287655
SCCO	SOUTHERN COPPER CORP	131,422	$3.63M	0.4%	$20.45	0.0%	—	84265V105
VLY	VALLEY NATL BANCORP	358,020	$3.39M	0.4%	$9.34	0.0%	—	919794107
VALE	VALE S A	247,052	$3.249M	0.3%	$13.15	—	—	91912E105
GM	GENERAL MTRS CO	95,481	$3.18M	0.3%	$23.62	0.0%	—	37045V100
—	L BRANDS INC	59,019	$2.907M	0.3%	$49.26	—	—	501797104
—	DOW CHEM CO	86,496	$2.783M	0.3%	$32.17	—	—	260543103
GLD	SPDR GOLD TRUST	22,878	$2.726M	0.3%	$119.15	—	—	78463V107
TLK	P T TELEKOMUNIKASI INDONESIA	60,000	$2.564M	0.3%	$42.73	—	—	715684106
—	POWERSHS DB MULTI SECT COMM	155,603	$2.515M	0.3%	$16.16	—	—	73936B705
UNP	UNION PAC CORP	16,184	$2.497M	0.3%	$57.06	0.0%	—	907818108
BVN	COMPANIA DE MINAS BUENAVENTU	166,668	$2.46M	0.3%	$14.76	—	—	204448104
ITUB	ITAU UNIBANCO HLDG SA	180,288	$2.329M	0.3%	$12.92	—	—	465562106
KOF	COCA COLA FEMSA S A B DE C V	16,513	$2.317M	0.2%	$140.31	—	—	191241108
—	CNOOC LTD	13,722	$2.298M	0.2%	$167.47	—	—	126132109
BBD	BANCO BRADESCO S A	163,260	$2.124M	0.2%	$13.01	—	—	059460303
—	FAMILY DLR STORES INC	33,386	$2.08M	0.2%	$62.30	—	—	307000109
KBR	KBR INC	62,559	$2.033M	0.2%	$26.54	0.0%	—	48242W106
—	CITRIX SYS INC	33,535	$2.023M	0.2%	$60.33	—	—	177376100
EBAY	EBAY INC	38,871	$2.01M	0.2%	$20.18	0.0%	—	278642103
—	TRONOX LTD	98,000	$1.975M	0.2%	$20.15	—	—	Q9235V101
GWW	GRAINGER W W INC	7,810	$1.97M	0.2%	$201.89	0.0%	—	384802104
PBR/A	PETROLEO BRASILEIRO SA PETRO	130,800	$1.918M	0.2%	$14.66	—	—	71654V101
—	VALE S A	156,546	$1.904M	0.2%	$12.16	—	—	91912E204
—	ENERSIS S A	91,652	$1.499M	0.2%	$16.36	—	—	29274F104
—	CHINA LIFE INS CO LTD	40,571	$1.415M	0.2%	$34.88	—	—	16939P106
—	STELLARONE CORP	71,499	$1.405M	0.2%	$19.65	—	—	85856G100
—	COMPANHIA DE BEBIDAS DAS AME	35,000	$1.307M	0.1%	$37.34	—	—	20441W203
HDB	HDFC BANK LTD	35,005	$1.269M	0.1%	$36.25	—	—	40415F101
META	FACEBOOK INC	50,000	$1.243M	0.1%	$25.44	0.0%	—	30303M102
PKX	POSCO	19,015	$1.237M	0.1%	$65.05	—	—	693483109
SQM	SOCIEDAD QUIMICA MINERA DE C	30,000	$1.212M	0.1%	$40.40	—	—	833635105
—	CST BRANDS INC	38,000	$1.171M	0.1%	$30.82	—	—	12646R105
—	EMPRESA NACIONAL DE ELCTRCID	26,490	$1.17M	0.1%	$44.17	—	—	29244T101
PBR	PETROLEO BRASILEIRO SA PETRO	82,000	$1.1M	0.1%	$13.41	—	—	71654V408
—	GOOGLE INC	1,192	$1.049M	0.1%	$880.03	—	—	38259P508
KB	KB FINANCIAL GROUP INC	28,712	$851K	0.1%	$29.64	—	—	48241A105
INFY	INFOSYS LTD	20,000	$824K	0.1%	$41.20	—	—	456788108
—	WPX ENERGY INC	40,678	$770K	0.1%	$18.93	—	—	98212B103
LPL	LG DISPLAY CO LTD	58,589	$695K	0.1%	$11.86	—	—	50186V102
—	BRF-BRASIL FOODS S A	30,000	$651K	0.1%	$21.70	—	—	10552T107
—	PHILIPPINE LONG DISTANCE TEL	9,000	$611K	0.1%	$67.89	—	—	718252604
KEP	KOREA ELECTRIC PWR	51,637	$584K	0.1%	$11.31	—	—	500631106
KT	KT CORP	34,588	$537K	0.1%	$15.53	—	—	48268K101
—	ATLAS RESOURCE PARTNERS LP	21,993	$482K	0.1%	$21.92	—	—	04941A101
—	TELEFONICA BRASIL SA	15,500	$354K	0.0%	$22.84	—	—	87936R106
—	TUMI HLDGS INC	14,301	$343K	0.0%	$23.98	—	—	89969Q104
BSAC	BANCO SANTANDER CHILE NEW	12,987	$318K	0.0%	$24.49	—	—	05965X109
—	TATA MTRS LTD	10,000	$234K	0.0%	$23.40	—	—	876568502
—	FIBRIA CELULOSE S A	20,000	$222K	0.0%	$11.10	—	—	31573A109
—	LATAM AIRLS GROUP S A	10,000	$169K	0.0%	$16.90	—	—	51817R106
CIG	COMPANHIA ENERGETICA DE MINA	14,106	$127K	0.0%	$9.00	—	—	204409601