Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MBB	iShares MBS ETF	410,011	$44.82M	4.4%	$105.81	—	MBS ETF	464288588
BWX	SPDR Barclays Intl Treas	749,258	$41.46M	4.1%	$56.68	—	BARCLY INTL ETF	78464A516
CVS	CVS Health Corp.	201,493	$19.41M	1.9%	$41.82	+54.1%	COM	126650100
FLOT	iShares Floating Rate Bond ETF	360,283	$18.21M	1.8%	$50.80	—	FLTG RATE BD ETF	46429B655
DAL	Delta Air Lines Inc.	361,386	$17.78M	1.7%	$15.34	+140.2%	COM NEW	247361702
AAL	American Airlines Group Inc.	279,325	$14.98M	1.5%	$21.78	+87.3%	COM	02376R102
—	ProShares Trust Short S&P500	671,548	$14.63M	1.4%	$22.44	—	SPSHS SHRT S&P500	74347R503
EMB	iShares JPMorgan USD Emerg	133,265	$14.62M	1.4%	$109.71	—	JP MOR EM MK ETF	464288281
COST	Costco Wholesale Corp.	102,202	$14.49M	1.4%	$109.42	0.0%	COM	22160K105
WMT	Wal-Mart Stores Inc.	168,626	$14.48M	1.4%	$21.83	0.0%	COM	931142103
LUV	Southwest Airlines Co.	339,053	$14.35M	1.4%	$11.97	+175.2%	COM	844741108
UNH	UnitedHealth Group Inc.	132,562	$13.4M	1.3%	$52.77	+50.2%	COM	91324P102
HCA	HCA Holdings Inc.	181,407	$13.31M	1.3%	$61.64	+6.0%	COM	40412C101
ALK	Alaska Air Group Inc.	211,791	$12.66M	1.2%	$34.31	+40.2%	COM	011659109
JBLU	JetBlue Airways Corp.	796,066	$12.63M	1.2%	$7.95	+63.1%	COM	477143101
ELV	Anthem Inc	98,946	$12.44M	1.2%	$105.54	0.0%	COM	036752103
AAPL	Apple Inc.	108,821	$12.01M	1.2%	$18.36	+31.2%	COM	037833100
—	SanDisk Corp.	115,916	$11.36M	1.1%	$66.70	—	COM	80004C101
WDC	Western Digital Corp.	98,283	$10.88M	1.1%	$37.27	+68.9%	COM	958102105
—	Discover Financial Services	161,763	$10.59M	1.0%	$48.01	—	COM	254709108
—	PowerShares Build Amer	345,414	$10.51M	1.0%	$28.04	—	BUILD AMER ETF	73937B407
—	Hawaiian Holdings Inc.	399,154	$10.4M	1.0%	$13.96	—	COM	419879101
—	Aetna Inc.	113,536	$10.09M	1.0%	$65.07	—	COM	00817Y108
COF	Capital One Financial Corp.	118,682	$9.797M	1.0%	$49.21	+35.2%	COM	14040H105
—	Hewlett-Packard Co.	239,332	$9.604M	0.9%	$31.36	—	COM	428236103
M	Macy's Inc.	145,378	$9.559M	0.9%	$59.28	+2.1%	COM	55616P104
HUM	Humana Inc.	65,883	$9.463M	0.9%	$76.90	+62.6%	COM	444859102
—	ProShares Short Russell2000	600,411	$9.276M	0.9%	$18.56	—	PSHS SHTRUSS2000	74347R826
LAD	Lithia Motors Inc.	105,836	$9.175M	0.9%	$52.25	+48.2%	CL A	536797103
ABG	Asbury Automotive Group Inc.	119,780	$9.094M	0.9%	$40.67	+76.3%	COM	043436104
KSS	Kohl's Corp.	145,836	$8.902M	0.9%	$56.59	+2.1%	COM	500255104
DDS	Dillard's Inc.	66,830	$8.366M	0.8%	$86.26	-4.1%	CL A	254067101
—	Lexmark International Inc.	196,286	$8.101M	0.8%	$33.76	—	CL A	529771107
LQD	iShares iBoxx $ Investment	67,189	$8.023M	0.8%	$116.13	—	IBOXX INV CPBD	464287242
ARW	Arrow Electronics Inc.	138,424	$8.013M	0.8%	$48.27	+15.2%	COM	042735100
AAP	Advance Auto Parts Inc.	49,888	$7.946M	0.8%	$73.99	+73.5%	COM	00751Y106
—	TE Connectivity Ltd.	119,385	$7.551M	0.7%	$52.36	—	REG SHS	H84989104
UHS	Universal Health Services Inc.	67,625	$7.524M	0.7%	$101.37	-1.1%	CL B	913903100
ORLY	O'Reilly Automotive Inc.	38,974	$7.507M	0.7%	$7.33	+59.9%	COM	67103H107
V	Visa Inc.	27,835	$7.298M	0.7%	$40.34	+38.0%	COM CL A	92826C839
—	Nordstrom Inc.	91,565	$7.269M	0.7%	$68.37	—	COM	655664100
—	Seagate Technology Inc.	108,490	$7.215M	0.7%	$46.79	—	SHS	G7945M107
AVT	Avnet Inc.	162,236	$6.979M	0.7%	$30.56	+8.6%	COM	053807103
SNX	SYNNEX Corp.	88,365	$6.907M	0.7%	$25.17	+21.6%	COM	87162W100
KMX	CarMax Inc.	102,454	$6.821M	0.7%	$45.90	+20.8%	COM	143130102
INTC	Intel Corp.	187,861	$6.817M	0.7%	$19.15	+39.1%	COM	458140100
MA	MasterCard Inc.	78,701	$6.781M	0.7%	$69.59	+9.7%	CL A	57636Q104
NOC	Northrop Grumman Corp.	45,760	$6.745M	0.7%	$75.31	+51.7%	COM	666807102
AZO	AutoZone Inc.	10,883	$6.738M	0.7%	$414.92	+35.8%	COM	053332102
AWK	American Water Works Co.	126,190	$6.726M	0.7%	$37.25	+11.6%	COM	030420103
ALL	Allstate Corp.	94,336	$6.627M	0.7%	$51.69	0.0%	COM	020002101
NAVI	Navient Corp	303,217	$6.553M	0.6%	$16.58	+20.5%	COM	63938C108
LMT	Lockheed Martin Corp.	33,924	$6.533M	0.6%	$86.43	+58.8%	COM	539830109
TRV	Travelers Cos. Inc.	61,091	$6.466M	0.6%	$78.95	0.0%	COM	89417E109
HYS	PIMCO 0-5 Year High Yield	62,355	$6.287M	0.6%	$105.48	—	0-5 HIGH YIELD	72201R783
—	LifePoint Hospitals Inc.	82,620	$5.941M	0.6%	$69.38	—	COM	53219L109
AAXJ	iShares MSCI All Country Asia	95,749	$5.834M	0.6%	$54.77	—	MSCI ACJPN IDX	464288182
—	VCA Inc.	118,336	$5.771M	0.6%	$39.33	—	COM	918194101
NVDA	NVIDIA Corp.	271,845	$5.45M	0.5%	$0.40	+16.9%	COM	67066G104
PAG	Penske Automotive Grp	110,204	$5.408M	0.5%	$33.18	+37.5%	COM	70959W103
HYG	iShares iBoxx $ High Yield	59,978	$5.374M	0.5%	$89.60	—	IBOXX HI YD ETF	464288513
—	Wellcare Health Plans Inc.	65,057	$5.339M	0.5%	$60.76	—	COM	94946T106
—	Raytheon Co.	49,176	$5.319M	0.5%	$74.57	—	COM NEW	755111507
SANM	Sanmina Corp.	225,317	$5.302M	0.5%	$15.25	+50.0%	COM	801056102
BWZ	SPDR Barclays Short Term	163,149	$5.263M	0.5%	$34.73	—	SHT TRM HGH YLD	78464A334
MPC	Marathon Petroleum Corp.	57,872	$5.224M	0.5%	$31.16	+0.6%	COM	56585A102
AN	AutoNation Inc.	85,481	$5.164M	0.5%	$49.51	+13.1%	COM	05329W102
FISV	Fiserv Inc.	71,565	$5.079M	0.5%	$24.89	+37.5%	COM	337738108
FLEX	Flextronics International Ltd.	447,286	$5.001M	0.5%	$6.50	+21.7%	ORD	Y2573F102
—	Cigna Corporation	48,185	$4.959M	0.5%	$75.09	—	COM	125509109
—	Celgene Corp.	43,420	$4.857M	0.5%	$111.86	—	COM	151020104
—	Computer Sciences Corp.	77,023	$4.856M	0.5%	$45.86	—	COM	205363104
—	Marvell Technology Group Ltd.	334,117	$4.845M	0.5%	$14.33	—	ORD	G5876H105
IGOV	iShares International Treas	48,864	$4.729M	0.5%	$100.60	—	INTL TREABO ETF	464288117
—	Magellan Health Inc.	78,707	$4.725M	0.5%	$57.46	—	COM NEW	559079207
BA	Boeing Co.	36,311	$4.72M	0.5%	$94.92	+16.6%	COM	097023105
JBL	Jabil Circuit Inc.	216,021	$4.716M	0.5%	$19.26	-4.0%	COM	466313103
BIIB	Biogen Idec Inc.	13,880	$4.712M	0.5%	$323.51	0.0%	COM	09062X103
AMGN	Amgen Inc.	29,149	$4.643M	0.5%	$113.30	0.0%	COM	031162100
MU	Micron Technology Inc.	132,262	$4.63M	0.5%	$27.88	+15.9%	COM	595112103
VLO	Valero Energy Corp.	92,970	$4.602M	0.5%	$35.48	-11.2%	COM	91913Y100
—	PowerShares Emerging Mkts	163,394	$4.601M	0.5%	$28.16	—	SOVEREIGN DEBT	73936T573
IBM	International Business Machines	28,642	$4.595M	0.5%	$118.94	-15.5%	COM	459200101
—	Ingram Micro Inc.	165,160	$4.565M	0.4%	$23.46	—	CL A	457153104
PSX	Phillips 66	63,339	$4.541M	0.4%	$54.20	-9.3%	COM	718546104
—	Alexion Pharmaceuticals Inc.	24,054	$4.451M	0.4%	$185.04	—	COM	015351109
AXS	Axis Capital Holdings Ltd	86,747	$4.432M	0.4%	$36.10	0.0%	SHS	G0692U109
CRUS	Cirrus Logic Inc.	184,365	$4.345M	0.4%	$21.88	-7.9%	COM	172755100
—	Aspen Insurance Holdings Ltd.	97,514	$4.268M	0.4%	$43.77	—	SHS	G05384105
GPI	Group 1 Automotive Inc.	47,465	$4.254M	0.4%	$68.16	+23.0%	COM	398905109
VMBS	Vanguard Mortgage-Backed	79,679	$4.224M	0.4%	$51.03	—	MORTG-BACK SEC	92206C771
BHE	Benchmark Electronics Inc.	165,602	$4.213M	0.4%	$18.72	+4.2%	COM	08160H101
UTHR	United Therapeutics Corp.	31,862	$4.126M	0.4%	$128.87	0.0%	COM	91307C102
—	Integrated Device Technology, Inc.	204,180	$4.002M	0.4%	$15.46	—	COM	458118106
—	DST Systems Inc.	42,378	$3.99M	0.4%	$71.98	—	COM	233326107
AGO	Assured Guaranty Ltd.	151,747	$3.944M	0.4%	$19.90	0.0%	COM	G0585R106
ACN	Accenture PLC	44,083	$3.937M	0.4%	$62.92	+10.1%	SHS CL A	G1151C101
—	L-3 Communications Holdings Inc.	30,531	$3.853M	0.4%	$90.06	—	COM	502424104
GILD	Gilead Sciences Inc.	39,363	$3.71M	0.4%	$71.85	0.0%	COM	375558103
SBS	Companhia de Saneamento Basico	561,401	$3.531M	0.3%	$10.71	—	SPONSORED ADR	20441A102
WHR	Whirlpool Corp.	18,088	$3.504M	0.3%	$144.78	+18.6%	COM	963320106
TSM	Taiwan Semiconductor Mfg	155,088	$3.471M	0.3%	$21.39	—	SPONSORED ADR	874039100
—	Alliant Techsystems inc	28,818	$3.35M	0.3%	$95.45	—	COM	018804104
—	Companhia Brasileira de Distribuicao	90,724	$3.341M	0.3%	$37.35	—	SPON ADR PFD CL A	20440T201
NSIT	Insight Enterprises	124,480	$3.223M	0.3%	$21.91	+8.7%	COM	45765U103
—	Aqua America Inc.	120,394	$3.215M	0.3%	$26.22	—	COM	03836W103
GPN	Global Payments Inc.	39,695	$3.205M	0.3%	$23.29	+63.3%	COM	37940X102
MGA	Magna International Inc.	28,833	$3.134M	0.3%	$22.60	+63.4%	COM	559222401
CTSH	Cognizant Technology Solutions Corp.	59,311	$3.123M	0.3%	$36.78	+20.4%	CL A	192446102
SLM	SLM Corp.	303,217	$3.09M	0.3%	$8.31	+15.0%	COM	78442P106
—	QLogic Corp.	231,987	$3.09M	0.3%	$11.83	—	COM	747277101
PRAA	PRA Group, Inc.	53,282	$3.087M	0.3%	$59.03	0.0%	COM	69354N106
FSLR	First Solar Inc.	65,735	$2.931M	0.3%	$58.78	-13.3%	COM	336433107
—	Allied World Assurance Co Hldgs	74,999	$2.844M	0.3%	$37.92	—	SHS	H01531104
—	Xilinx Inc.	65,139	$2.82M	0.3%	$47.32	—	COM	983919101
AIG	American International Group, Inc.	50,117	$2.807M	0.3%	$32.83	+25.3%	COM NEW	026874784
DOX	Amdocs Ltd.	59,322	$2.768M	0.3%	$28.59	+33.9%	COM	G02602103
EUHY	iShares Global ex	54,255	$2.753M	0.3%	$50.74	—	GL HGYL CP ETF	464286210
ON	ON Semiconductor Corp.	269,332	$2.728M	0.3%	$9.24	-4.9%	COM	682189105
SEM	Select Medical Holdings Corp	188,789	$2.719M	0.3%	$6.89	-3.6%	COM	81619Q105
SWKS	Skyworks Solutions Inc	36,884	$2.682M	0.3%	$19.61	+154.3%	COM	83088M102
EG	Everest Re Group Ltd.	15,538	$2.646M	0.3%	$99.45	+34.1%	COM	G3223R108
MFC	Manulife Financial Corp.	138,348	$2.641M	0.3%	$18.93	0.0%	COM	56501R106
SAIC	Science Applications Intl Corp.	53,250	$2.637M	0.3%	$48.82	0.0%	COM	808625107
MET	MetLife Inc.	48,346	$2.615M	0.3%	$32.77	0.0%	COM	59156R108
—	Advanced Semiconductor Engr	421,497	$2.584M	0.3%	$5.41	—	SPONSORED ADR	00756M404
UNP	Union Pacific Corp.	21,663	$2.581M	0.3%	$66.04	+35.5%	COM	907818108
—	Triumph Group Inc.	38,006	$2.555M	0.3%	$71.20	—	COM	896818101
TDC	Teradata Corp.	58,003	$2.534M	0.2%	$42.83	0.0%	COM	88076W103
—	PartnerRe Ltd.	21,622	$2.468M	0.2%	$90.81	—	COM	G6852T105
LEA	Lear Corp.	24,736	$2.426M	0.2%	$47.28	+59.9%	COM NEW	521865204
—	Health Net Inc.	44,585	$2.387M	0.2%	$31.02	—	COM	42222G108
CNC	Centene Corp.	22,470	$2.334M	0.2%	$15.12	+54.3%	COM	15135B101
—	Western Refining Inc.	60,046	$2.269M	0.2%	$37.56	—	COM	959319104
CVI	CVR Energy Inc.	58,051	$2.247M	0.2%	$17.94	+0.8%	COM	12662P108
—	Tata Motors Ltd.	52,891	$2.236M	0.2%	$24.10	—	SPONSORED ADR	876568502
IEI	iShares 3-7 Year Treasury Bond	18,089	$2.212M	0.2%	$120.81	—	BARCLYS 3-7 YR	464288661
—	Convergys Corp.	107,500	$2.19M	0.2%	$18.06	—	COM	212485106
WU	Western Union Co.	121,084	$2.169M	0.2%	$17.13	—	COM	959802109
PBF	PBF Energy, Inc.	80,452	$2.143M	0.2%	$29.58	-11.9%	CL A	69318G106
—	HollyFrontier Corp.	56,297	$2.11M	0.2%	$43.69	—	COM	436106108
GPRE	Green Plains Inc.	84,780	$2.101M	0.2%	$29.41	+1.9%	COM	393222104
—	Chipmos Technologies (Bermuda) Ltd.	87,343	$2.037M	0.2%	$23.34	—	SHS	G2110R114
IBND	SPDR Barclays Intl Corp	57,864	$1.989M	0.2%	$34.30	—	BARCLY INTL CRP	78464A151
—	PowerShares International	69,868	$1.987M	0.2%	$27.56	—	INTL CORP BOND	73936Q835
LNC	Lincoln National Corp.	34,160	$1.97M	0.2%	$36.59	0.0%	COM	534187109
ENSG	Ensign Group, Inc.	43,113	$1.914M	0.2%	$15.05	+15.8%	COM	29358P101
VC	Visteon Corp	17,818	$1.904M	0.2%	$48.06	+15.7%	COM NEW	92839U206
NSC	Norfolk Southern Corp.	16,900	$1.852M	0.2%	$82.62	+3.9%	COM	655844108
GNW	Genworth Financial Inc.	210,721	$1.791M	0.2%	$11.54	-9.0%	COM CL A	37247D106
AWR	American States Water Co.	47,488	$1.788M	0.2%	$24.30	+13.8%	COM	029899101
UNM	Unum Group	51,210	$1.786M	0.2%	$30.76	+9.7%	COM	91529Y106
F	Ford Motor Company	114,351	$1.772M	0.2%	$8.03	+1.6%	COM PAR $0.01	345370860
—	SPDR Barclays 1-3 Month	38,080	$1.742M	0.2%	$45.75	—	BRCLYS 1-3MT ETF	78464A680
CMBS	iShares Barclays CMBS Bond	33,699	$1.725M	0.2%	$51.18	—	BARCLYS CMBS	46429B366
HELE	Helen of Troy Corp.	26,472	$1.722M	0.2%	$38.38	+60.4%	COM	G4388N106
UHAL	Amerco	6,001	$1.706M	0.2%	$27.65	-2.0%	COM	023586100
—	Hanger, Inc.	74,603	$1.634M	0.2%	$20.52	—	COM NEW	41043F208
CWT	California Water Service Group	66,116	$1.627M	0.2%	$17.56	+10.3%	COM	130788102
R	Ryder System Inc.	17,455	$1.621M	0.2%	$89.68	-0.5%	COM	783549108
REX	REX American Resources Corp	26,151	$1.621M	0.2%	$11.00	+0.6%	COM	761624105
—	Silicon Motion Technology Corp	66,116	$1.564M	0.2%	$20.43	—	SPONSORED ADR	82706c108
—	Con-Way Inc.	31,721	$1.56M	0.2%	$47.49	—	COM	205944101
AIZ	Assurant Inc.	22,752	$1.557M	0.2%	$41.41	+28.9%	COM	04621X108
JLL	Jones Lang LaSalle Inc.	10,361	$1.553M	0.2%	$126.41	+6.2%	COM	48020Q107
—	Celestica Inc	130,081	$1.527M	0.2%	$10.98	—	SUB VTG SHS	15101Q108
UGI	UGI Corp.	39,460	$1.499M	0.1%	$34.01	+8.4%	COM	902681105
NJR	New Jersey Resources Corp.	24,463	$1.497M	0.1%	$18.05	+9.1%	COM	646025106
ATO	Atmos Energy Corporation	26,812	$1.495M	0.1%	$37.83	+6.3%	COM	049560105
—	Tech Data Corp.	23,118	$1.462M	0.1%	$50.09	—	COM	878237106
—	AGL Resources, Inc.	25,825	$1.408M	0.1%	$51.33	—	COM	001204106
MX	MagnaChip Semiconductor Corp.	105,311	$1.368M	0.1%	$14.60	-19.8%	COM	55933J203
—	Kindred Healthcare Inc	73,629	$1.339M	0.1%	$19.40	—	COM	494580103
—	Grupo Financiero Santander	128,930	$1.336M	0.1%	$13.28	—	SPON ADR SHS B	40053C105
WERN	Werner Enterprises Inc.	42,091	$1.311M	0.1%	$25.29	+11.4%	COM	950755108
—	Siloconware Precision Industries	172,884	$1.305M	0.1%	$6.82	—	SPONSD ADR SPL	827084864
—	Enersis S.A.	81,140	$1.301M	0.1%	$16.85	—	SPONSORED ADR	29274F104
—	Companhia Paranaense de Energia	98,630	$1.299M	0.1%	$13.14	—	SPON ADR PFD	20441B407
PLXS	Plexus Corp.	30,660	$1.263M	0.1%	$40.85	-4.5%	COM	729132100
LSCC	Lattice Semiconductor Corp	172,873	$1.191M	0.1%	$7.50	—	COM	518415104
IEMG	iShares Core Emerging Mkts	23,951	$1.126M	0.1%	$49.39	—	CORE MSCI EMKT	46434G103
ILF	iShares Latin America 40 ETF	32,418	$1.031M	0.1%	$36.76	—	LATN AMER 40 ETF	464287390
—	Brookfield Property Partners LP	43,870	$1.003M	0.1%	$21.07	—	UNIT LTD PARTN	G16249107
JOE	St. Joe Co.	52,603	$967K	0.1%	$22.44	-16.0%	COM	790148100
—	Symetra Financial Corporation	40,508	$934K	0.1%	$23.06	—	COM	87151Q106
CIG	Companhia Energetica de Minas	186,987	$929K	0.1%	$6.82	—	SP ADR N-V PFD	204409601
—	Realogy Holdings Corp.	20,429	$909K	0.1%	$37.19	—	COM	75605Y106
CPA	Copa Holdings S.A.	8,429	$874K	0.1%	$91.61	-17.3%	CL A	P31076105
EZA	iShares MSCI South Africa ETF	11,844	$768K	0.1%	$58.46	—	MSCI STH AFRICA	464286780
THO	Thor Industries Inc.	13,363	$747K	0.1%	$31.91	+35.7%	COM	885160101
—	Integrated Silicon Solution Inc	42,389	$702K	0.1%	$14.76	—	COM	45812P107
—	Silicon Image, Inc.	121,092	$668K	0.1%	$5.04	—	COM	82705T102
—	China Petroleum & Chemical Corp.	6,799	$551K	0.1%	$92.18	—	SPONSORED ADR	16941R108
SMIN	iShares MSCI India Small Cap ETF	15,020	$505K	0.0%	$33.62	—	MSCI INDIA SM CP	46429B614
RDY	Dr. Reddy's Laboratories Ltd.	9,378	$473K	0.0%	$38.63	—	ADR	256135203
—	China Mobile Ltd.	6,930	$408K	0.0%	$54.89	—	SPONSORED ADR	16941M109
—	Fibria Celulose S.A.	25,433	$309K	0.0%	$11.54	—	SP ADR REP COM	31573A109
—	TIM Participacoes S/A	12,073	$268K	0.0%	$24.28	—	SPONSORED ADR	88706P205
SSL	Sasol Ltd. ADS	6,794	$258K	0.0%	$56.46	—	SPONSORED ADR	803866300
—	SPDR S&P Emerging Europe	8,933	$244K	0.0%	$36.88	—	EUROPE ETF	78463X608
—	Market Vectors Russia ETF Trust	16,610	$243K	0.0%	$25.15	—	RUSSIA ETF	57060U506
—	SK Telecom Co. Ltd.	8,361	$226K	0.0%	$24.67	—	SPONSORED ADR	78440P108
BAK	Braskem S/A	12,635	$163K	0.0%	$13.33	—	SP ADR PFD A	105532105
TKC	Turkcell Iletisim Hizmetleri A.S.	10,258	$155K	0.0%	$14.38	—	SPON ADR NEW	900111204
IBN	ICICI Bank Limited	13,000	$150K	0.0%	$11.54	—	ADR	45104G104