Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UHS	Universal Health Services, Inc	341,588	$28.03M	9.6%	$62.83	+22.1%	COM	913903100
—	Willis Group Holdings plc	465,392	$20.54M	7.0%	$40.78	—	COM	G96666105
BIGGQ	Big Lots, Inc.	524,513	$19.86M	6.8%	$26.62	-12.9%	COM	089302103
—	Nat.West.Life Ins.	77,811	$19.02M	6.5%	$189.85	—	COM	638522102
URI	United Rentals, Inc.	154,100	$14.63M	5.0%	$51.55	+59.3%	COM	911363109
—	DeVry Education Group Inc.	325,372	$13.79M	4.7%	$31.02	—	COM	251893103
ROG	Rogers Corp.	217,103	$13.55M	4.6%	$45.60	+32.9%	COM	775133101
—	Chicago Bridge & Iron Company	142,400	$12.41M	4.2%	$59.66	—	COM	167250109
—	FEI Company	101,447	$10.45M	3.6%	$73.02	—	COM	30241L109
RDN	Radian Group, Inc.	687,878	$10.34M	3.5%	$11.17	+12.8%	COM	750236101
RHP	Ryman Hospitality Properties,	212,356	$9.029M	3.1%	$38.82	—	COM	78377T107
ROST	Ross Stores, Inc.	118,726	$8.497M	2.9%	$28.26	+11.6%	COM	778296103
MTG	MGIC Investment Corp.	936,200	$7.976M	2.7%	$6.79	+28.1%	COM	552848103
AJG	Arthur J. Gallagher & Company	151,000	$7.185M	2.5%	$33.49	+10.5%	COM	363576109
—	Checkpoint Systems, Inc.	521,382	$6.997M	2.4%	$14.14	—	COM	162825103
CROX	Crocs, Inc.	412,906	$6.441M	2.2%	$16.21	-5.6%	COM	227046109
—	Orient Express Hotels Ltd. - C	444,423	$6.404M	2.2%	$12.16	—	COM	G67743107
TJX	TJX Companies	100,600	$6.101M	2.1%	$20.82	+23.7%	COM	872540109
BANR	Banner Corporation	131,206	$5.407M	1.8%	$21.83	+26.6%	COM	06652V208
—	Southwestern Energy Company	110,500	$5.084M	1.7%	$36.53	—	COM	845467109
EOG	EOG Resources, Inc.	25,000	$4.904M	1.7%	$46.52	+39.3%	COM	26875P101
PTC	PTC Inc.	107,000	$3.79M	1.3%	$24.01	+53.1%	COM	69370C100
—	Express, Inc.	210,300	$3.34M	1.1%	$18.55	—	COM	30219E103
DVN	Devon Energy Corp.	49,804	$3.333M	1.1%	$37.00	+12.7%	COM	25179M103
JKHY	Jack Henry & Associates, Inc.	56,680	$3.16M	1.1%	$39.46	+25.3%	COM	426281101
ACH	Owens & Minor, Inc.	89,463	$3.134M	1.1%	$27.05	+8.5%	COM	690732102
—	Comstock Resources, Inc.	132,589	$3.03M	1.0%	$15.73	—	COM	205768203
—	Stone Energy Corp.	68,500	$2.875M	1.0%	$22.03	—	COM	861642106
WBS	Webster Financial Corp.	91,100	$2.83M	1.0%	$23.57	+30.3%	COM	947890109
—	QLogic Corp.	216,000	$2.754M	0.9%	$9.64	—	COM	747277101
TSBK	Timberland Bancorp.	219,347	$2.347M	0.8%	$6.17	+21.6%	COM	887098101
COLB	Columbia Banking System, Inc.	81,949	$2.337M	0.8%	$12.82	+26.5%	COM	197236102
BKU	BankUnited, Inc.	65,519	$2.278M	0.8%	$17.43	+32.1%	COM	06652K103
—	Rofin-Sinar Technologies, Inc.	90,888	$2.178M	0.7%	$24.90	—	COM	775043102
—	Volt Information Sciences, Inc	254,708	$2.134M	0.7%	$7.20	—	COM	928703107
—	UTI Worldwide, Inc.	174,739	$1.85M	0.6%	$16.47	—	COM	G87210103
BRO	Brown & Brown, Inc.	52,200	$1.606M	0.5%	$13.98	-2.1%	COM	115236101
ESINQ	ITT Educational Services, Inc.	52,630	$1.509M	0.5%	$25.33	+30.6%	COM	45068B109
TMO	Thermo Fisher Scientific Inc.	12,000	$1.443M	0.5%	$79.76	+43.5%	COM	883556102
—	Fairchild Semiconductor Corp.	95,500	$1.317M	0.4%	$13.80	—	COM	303726103
ESNT	Essent Group Ltd.	48,357	$1.086M	0.4%	$19.64	+9.1%	COM	G3198U102
—	Precision Castparts Corp.	3,600	$910K	0.3%	$226.11	—	COM	740189105
DECK	Deckers Outdoor Corp.	10,000	$797K	0.3%	$13.22	0.0%	COM	243537107
CVS	CVS Caremark Corp.	10,020	$750K	0.3%	$41.44	+23.3%	COM	126650100
—	Yadkin Financial Corp.	35,000	$749K	0.3%	$21.40	—	COM	984305102
VSH	Vishay Intertechnology, Inc.	40,000	$595K	0.2%	$10.89	+2.9%	COM	928298108
SWKS	Skyworks Solutions, Inc.	15,000	$563K	0.2%	$17.70	+48.4%	COM	83088M102
APH	Amphenol Corp.	6,000	$550K	0.2%	$8.50	+17.1%	COM	032095101
—	Forest Oil Corp.	274,084	$524K	0.2%	$4.09	—	COM	346091705
—	Praxair, Inc.	4,000	$524K	0.2%	$115.25	—	COM	74005P104
—	Pall Corp.	5,000	$447K	0.2%	$66.40	—	COM	696429307
—	Time Warner, Inc.	3,998	$261K	0.1%	$57.78	—	COM	887317303
—	Anadarko Petroleum Corp.	3,000	$254K	0.1%	$86.00	—	COM	032511107
FMC	FMC Corp.	3,000	$230K	0.1%	$44.43	+13.7%	COM	302491303
XYL	Xylem, Inc.	6,000	$219K	0.1%	$27.59	+13.7%	COM	98419M100
—	DST Systems, Inc.	2,200	$209K	0.1%	$95.00	—	COM	233326107
—	Interpublic Group of Companies	11,000	$189K	0.1%	$9.16	+23.1%	COM	460690100