Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	Actavis PLC	167,468	$40.41M	4.8%	$168.44	—	COM	G0083B108
—	Valeant Pharmaceuticals Intern	296,871	$38.95M	4.6%	$104.33	—	COM	91911K102
—	Vasco Data Security Internatio	1,944,194	$36.51M	4.3%	$7.84	—	COM	92230Y104
—	Alere Inc.	908,453	$35.23M	4.2%	$30.57	—	COM	01449J105
CSCO	Cisco Systems Inc.	1,159,902	$29.2M	3.5%	$16.91	+4.6%	COM	17275R102
—	CA Technologies	1,035,438	$28.93M	3.4%	$29.67	—	COM	12673P105
UHS	Universal Health Services Inc.	255,024	$26.65M	3.2%	$66.49	+52.5%	COM	913903100
GLNG	Golar LNG Limited	384,599	$25.54M	3.0%	$28.10	+80.8%	COM	G9456A100
—	Mentor Graphics Corp.	1,129,360	$23.15M	2.7%	$23.32	—	COM	587200106
—	Tronox Limited	792,550	$20.65M	2.4%	$26.90	—	COM	Q9235V101
AAP	Advance Auto Parts, Inc.	156,792	$20.43M	2.4%	$71.28	+60.7%	COM	00751Y106
—	Symantec Corp.	793,504	$18.66M	2.2%	$24.40	—	COM	871503108
RJF	Raymond James Financial Inc.	341,884	$18.32M	2.2%	$24.14	+22.7%	COM	754730109
GIL	Gildan Activewear, Inc.	332,111	$18.17M	2.2%	$18.87	+29.7%	COM	375916103
—	INTL FCStone Inc	1,032,047	$17.88M	2.1%	$18.19	—	COM	46116V105
—	SpartanNash Company	909,485	$17.69M	2.1%	$21.01	—	COM	847215100
QNST	QuinStreet, Inc.	4,034,540	$16.74M	2.0%	$6.87	-28.4%	COM	74874Q100
—	GNC Holdings, Inc.	420,786	$16.3M	1.9%	$38.74	—	COM	36191G107
—	Ascena Retail Group, Inc.	1,217,143	$16.19M	1.9%	$16.99	—	COM	04351G101
QCOM	Qualcomm Inc.	209,150	$15.64M	1.9%	$46.56	+19.0%	COM	747525103
CE	Celanese Corporation	258,879	$15.15M	1.8%	$41.14	+20.4%	COM	150870103
—	Fiesta Restaurant Group, Inc.	276,822	$13.75M	1.6%	$38.22	—	COM	31660B101
ZBH	Zimmer Holdings Inc.	135,920	$13.67M	1.6%	$71.05	+26.1%	COM	98956P102
—	Covidien PLC	157,828	$13.65M	1.6%	$60.94	—	COM	G2554F113
—	Air Transport Services Group,	1,834,476	$13.36M	1.6%	$7.50	—	COM	00922R105
—	GenCorp Inc.	812,889	$12.98M	1.5%	$16.28	—	COM	368682100
—	Quantum Corp.	10,795,055	$12.52M	1.5%	$1.38	—	COM	747906204
—	State Bank Financial Corporati	710,184	$11.53M	1.4%	$16.12	—	COM	856190103
—	Ultra Petroleum Corp.	490,077	$11.4M	1.3%	$20.57	—	COM	903914109
—	DeVry Education Group Inc.	252,962	$10.83M	1.3%	$30.56	—	COM	251893103
—	Imation Corp.	3,569,588	$10.53M	1.2%	$3.69	—	COM	45245A107
UPBD	Rent-A-Center, Inc.	344,140	$10.45M	1.2%	$31.63	-15.0%	COM	76009N100
NFG	National Fuel Gas Co.	146,085	$10.22M	1.2%	$65.04	+12.6%	COM	636180101
—	Global Cash Access Hldgs Inc.	1,501,325	$10.13M	1.2%	$7.83	—	COM	378967103
APEI	American Public Education, Inc	374,844	$10.12M	1.2%	$36.15	-12.8%	COM	02913V103
—	Carrols Restaurant Group, Inc.	1,362,276	$9.686M	1.1%	$6.61	—	COM	14574X104
—	Willis Group Holdings PLC	232,342	$9.619M	1.1%	$43.33	—	COM	G96666105
—	Synovus Financial Corp.	378,267	$8.942M	1.1%	$24.38	—	COM	87161C501
VC	Visteon Corporation	85,966	$8.36M	1.0%	$48.00	+20.2%	COM	92839U206
—	CoreLogic Inc.	298,940	$8.092M	1.0%	$27.05	—	COM	21871D103
—	PacWest Bancorp	190,914	$7.871M	0.9%	$43.17	—	COM	695263103
—	Progressive Waste Solutions, L	302,710	$7.801M	0.9%	$25.73	—	COM	74339G101
DAR	Darling Ingredients Inc.	414,084	$7.586M	0.9%	$20.38	-5.1%	COM	237266101
AN	AutoNation Inc.	147,747	$7.433M	0.9%	$48.25	+13.5%	COM	05329W102
ACIW	ACI Worldwide, Inc.	392,415	$7.362M	0.9%	$19.12	-1.9%	COM	004498101
—	Charter Financial Corporation	638,733	$6.834M	0.8%	$10.99	—	COM	16122W108
—	Electro Rent Corp.	479,538	$6.603M	0.8%	$18.14	—	COM	285218103
—	Noble Corporation PLC	297,164	$6.603M	0.8%	$37.47	—	COM	G65431101
OPY	Oppenheimer Holdings Inc.	312,733	$6.333M	0.7%	$18.42	+25.5%	COM	683797104
—	1st United Bancorp, Inc.	723,064	$6.161M	0.7%	$7.46	—	COM	33740N105
SBCF	Seacoast Banking Corporation o	511,305	$5.589M	0.7%	$10.56	-0.1%	COM	811707801
MSA	MSA Safety Incorporated	112,879	$5.576M	0.7%	$52.42	+5.6%	COM	553498106
—	Triumph Group Inc.	85,644	$5.571M	0.7%	$70.22	—	COM	896818101
—	Avid Technology Inc.	521,841	$5.271M	0.6%	$6.00	—	COM	05367P100
—	Tibco Software Inc.	210,819	$4.982M	0.6%	$25.41	—	COM	88632Q103
OCFC	OceanFirst Financial Corp.	303,019	$4.821M	0.6%	$10.97	+0.2%	COM	675234108
—	Pope Resources LP	69,406	$4.65M	0.6%	$67.69	—	COM	732857107
TWI	Titan International, Inc.	370,290	$4.377M	0.5%	$16.18	-11.1%	COM	88830M102
NRIM	Northrim BanCorp, Inc.	140,776	$3.721M	0.4%	$4.11	+2.1%	COM	666762109
MCS	Marcus Corp.	207,500	$3.279M	0.4%	$13.11	+37.9%	COM	566330106
PRGS	Progress Software Corp.	128,050	$3.062M	0.4%	$25.10	-6.5%	COM	743312100
—	Sterling Bancorp	237,922	$3.043M	0.4%	$13.37	—	COM	85917A100
—	South State Corporation	54,286	$3.036M	0.4%	$61.00	—	COM	840441109
SRI	Stoneridge, Inc.	254,160	$2.864M	0.3%	$11.65	0.0%	COM	86183P102
BIO	Bio-Rad Laboratories Inc. CL A	15,187	$1.722M	0.2%	$117.94	+0.5%	COM	090572207
—	Alere Inc Perp Pfd Conv Ser B	5,187	$1.682M	0.2%	$260.01	—	PFD	01449J204
—	Suffolk Bancorp	65,922	$1.28M	0.2%	$17.72	—	COM	864739107
WSFS	WSFS Financial Corp.	16,164	$1.158M	0.1%	$20.02	+20.8%	COM	929328102
PGN1EUR	Paragon Offshore PLC	92,623	$570K	0.1%	$6.15	—	COM	G6S01W108
—	TF Financial Corp.	12,189	$507K	0.1%	$27.89	—	COM	872391107
—	First Defiance Financial Corp.	18,009	$486K	0.1%	$23.40	—	COM	32006W106
—	Brookline Bancorp Inc.	51,580	$441K	0.1%	$9.40	—	COM	11373M107