Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CDW	CDW CORP COM	507,662	$16.18M	5.9%	$19.53	+32.0%	COM	12514G108
BIDU	BAIDU COM INC SPONS ADR REPSTG	81,544	$15.23M	5.5%	$98.01	—	COM	056752108
—	CTRIP COM INTL LTD AMERICAN DE	237,095	$15.18M	5.5%	$34.73	—	COM	22943F100
ADBE	ADOBE SYS INC COM	181,928	$13.16M	4.8%	$44.84	+43.8%	COM	00724F101
—	COMPASS MINERALS INTL	122,683	$11.75M	4.2%	$95.74	—	COM	20451n101
—	RANGE RESOURCES CORP	134,534	$11.7M	4.2%	$84.31	—	COM	75281a109
—	CIMAREX ENERGY CO	80,270	$11.52M	4.2%	$66.46	—	COM	171798101
MUSA	MURPHY USA INC COM	228,023	$11.15M	4.0%	$39.40	+14.3%	COM	626755102
WLY	WILEY JOHN & SONS INC CL A	176,711	$10.71M	3.9%	$27.60	+46.7%	COM	968223206
ZTS	ZOETIS INC CL A	330,659	$10.67M	3.9%	$27.83	+0.7%	COM	98978V103
CRS	CARPENTER TECHNOLOGY	165,636	$10.48M	3.8%	$38.55	+34.3%	COM	144285103
—	HOSPIRA INC COM	198,273	$10.19M	3.7%	$38.56	—	COM	441060100
MTN	VAIL RESORTS INC COM	128,559	$9.922M	3.6%	$63.40	+10.7%	COM	91879Q109
PSMT	PRICESMART INC COM	111,938	$9.743M	3.5%	$75.80	+6.4%	COM	741511109
—	MEAD JOHNSON NUTRITION CO COM	102,550	$9.555M	3.5%	$79.66	—	COM	582839106
NWSA	NEWS CORP NEW CL A	517,826	$9.29M	3.4%	$15.17	0.0%	COM	65249B109
PNR	PENTAIR PLC SHS ISIN#IE00BLS09	126,588	$9.13M	3.3%	$41.76	0.0%	COM	G7S00T104
BA	BOEING CO COM	65,317	$8.31M	3.0%	$82.40	+36.6%	COM	097023105
—	SNYDERS-LANCE INC COM	312,771	$8.276M	3.0%	$28.42	—	COM	833551104
—	CANTEL MED CORP COM	209,773	$7.682M	2.8%	$36.62	—	COM	138098108
MS	MORGAN STANLEY COM	213,196	$6.893M	2.5%	$17.77	+27.8%	COM	617446448
JPM	JP MORGAN CHASE & CO COM ISIN#	106,368	$6.129M	2.2%	$36.42	+13.1%	COM	46625H100
—	EQT CORP	19,954	$2.133M	0.8%	$90.18	—	COM	26884l109
NCLH	NORWEGIAN CRUISE LINE HLDGS LT	64,951	$2.059M	0.7%	$33.83	-4.5%	COM	G66721104
CTRA	CABOT OIL & GAS	53,082	$1.812M	0.7%	$25.96	-0.1%	COM	127097103
PAA	PLAINS ALL AMERN PPLN LP UNIT	22,092	$1.327M	0.5%	$54.57	—	COM	726503105
—	INNOPHOS HLDGS INC COM	20,251	$1.166M	0.4%	$47.32	—	COM	45774N108
NFG	NATIONAL FUEL GAS CO N J COM	13,879	$1.087M	0.4%	$61.63	+19.6%	COM	636180101
IBM	INTL BUSINESS MACHINES COM	5,993	$1.086M	0.4%	$117.16	-4.2%	COM	459200101
DVN	DEVON ENERGY CORPORATION COMMO	12,999	$1.032M	0.4%	$37.46	+30.9%	COM	25179M103
—	SM ENERGY CO	12,130	$1.02M	0.4%	$83.10	—	COM	78454l100
—	WHITING PETROLEUM CORP	12,395	$995K	0.4%	$56.23	—	COM	966387102
DIS	WALT DISNEY CO COM	10,421	$893K	0.3%	$57.31	+28.1%	COM	254687106
MMM	3M CO COM	5,628	$806K	0.3%	$62.80	+29.1%	COM	88579Y101
—	MOSAIC CO NEW	16,190	$801K	0.3%	$47.47	—	COM	61945c103
MRK	MERCK & CO INC. COM	13,471	$779K	0.3%	$30.33	+25.2%	COM	58933Y105
FCX	FREEPORT-MCMORAN INC COM	21,187	$773K	0.3%	$26.13	+13.1%	COM	35671D857
AXP	AMERICAN EXPRESS CO CM	8,069	$766K	0.3%	$61.12	+25.0%	COM	025816109
JNJ	JOHNSON & JOHNSON COM	7,278	$761K	0.3%	$61.88	+18.2%	COM	478160104
HD	HOME DEPOT INC COM	9,188	$744K	0.3%	$56.95	+5.5%	COM	437076102
—	ELDORADO GOLD CORP NEW F	94,605	$723K	0.3%	$6.11	—	COM	284902103
AAPL	APPLE INC COM	7,707	$716K	0.3%	$18.01	+3.6%	COM	037833100
—	DU PONT E I DE NEMOURS & CO CO	10,927	$715K	0.3%	$53.82	—	COM	263534109
CVX	CHEVRON CORP COM	5,383	$703K	0.3%	$71.86	+5.6%	COM	166764100
INTC	INTEL CORP COM	22,696	$701K	0.3%	$17.43	+18.7%	COM	458140100
CAT	CATERPILLAR INC COM	6,416	$697K	0.3%	$62.86	+24.1%	COM	149123101
PFE	PFIZER INC COM	23,062	$684K	0.2%	$16.66	+5.3%	COM	717081103
MLM	MARTIN MARIETTA MATRLS	5,167	$682K	0.2%	$93.22	+22.5%	COM	573284106
ADP	AUTOMATIC DATA PROCESSING INC	8,523	$676K	0.2%	$45.53	+16.1%	COM	053015103
—	PEABODY ENERGY CORP	41,217	$674K	0.2%	$16.50	—	COM	704549104
ABBNY	ABB LTD ADR	29,080	$669K	0.2%	$22.06	—	COM	000375204
ANDE	ANDERSONS INC	12,491	$644K	0.2%	$37.92	+14.6%	COM	034164103
VZ	VERIZON COMMUNICATIONS COM	13,050	$639K	0.2%	$26.87	-0.3%	COM	92343V104
—	VALERO ENERGY CORP NEW	12,711	$637K	0.2%	$50.35	—	COM	91913y100
KO	COCA COLA CO COM	14,924	$632K	0.2%	$27.71	+1.4%	COM	191216100
—	TRIANGLE PETROLEUM NEW	52,422	$616K	0.2%	$8.60	—	COM	89600b201
PG	PROCTER GAMBLE CO COM	7,688	$604K	0.2%	$55.39	+5.2%	COM	742718109
T	AT&T INC COM	16,428	$581K	0.2%	$11.35	+3.8%	COM	00206R102
VMC	VULCAN MATERIALS COMPANY	9,078	$579K	0.2%	$49.11	+17.5%	COM	929160109
PAAS	PAN AMERICAN SILVER CP F	37,282	$572K	0.2%	$10.88	+21.9%	COM	697900108
MCD	MCDONALDS CORP COM	5,621	$566K	0.2%	$71.78	+4.2%	COM	580135101
—	SILVER WHEATON CORP F	21,408	$562K	0.2%	$24.45	—	COM	828336107
—	HCP INC COM	13,566	$561K	0.2%	$43.07	—	COM	40414L109
—	CLOUD PEAK ENERGY INC	29,034	$535K	0.2%	$18.89	—	COM	18911q102
CL	COLGATE PALMOLIVE CO COM	7,811	$533K	0.2%	$45.03	+13.8%	COM	194162103
—	STILLWATER MINING CORP	29,571	$519K	0.2%	$15.05	—	COM	86074q102
—	SPDR GOLD TRUST SPDR GOLD SHAR	4,053	$519K	0.2%	$119.93	—	COM	78463v107
TRV	THE TRAVELERS COMPANIES INC CO	5,425	$510K	0.2%	$63.84	+10.4%	COM	89417E109
SEB	SEABOARD CORP	161	$486K	0.2%	$2665.91	-1.7%	COM	811543107
WM	WASTE MANAGEMENT INC COM	10,433	$467K	0.2%	$31.04	+10.6%	COM	94106L109
—	TESORO CORPORATION	7,947	$466K	0.2%	$58.52	—	COM	881609101
PAYX	PAYCHEX INC COM	11,129	$463K	0.2%	$25.36	+13.5%	COM	704326107
—	ADECOAGRO SA F	49,065	$463K	0.2%	$8.19	—	COM	l00849106
XOM	EXXON MOBIL CORPORATION COM	4,569	$460K	0.2%	$54.38	+13.8%	COM	30231G102
—	ASHLAND INC NEW	4,089	$445K	0.2%	$97.99	—	COM	044209104
—	REYNOLDS AMERICAN INC COM	7,364	$444K	0.2%	$49.43	—	COM	761713106
MO	ALTRIA GROUP INC COM	9,772	$410K	0.1%	$16.58	+15.8%	COM	02209S103
MDLZ	MONDELEZ INTL INC COM	10,499	$395K	0.1%	$23.40	+20.9%	COM	609207105
SYY	SYSCO CORP COM	9,830	$368K	0.1%	$24.57	+9.5%	COM	871829107
—	KRAFT FOODS GROUP INC COM	6,127	$367K	0.1%	$56.00	—	COM	50076Q106
—	OASIS PETROLEUM INC	5,004	$280K	0.1%	$55.96	—	COM	674215108
—	ULTRA PETROLEUM CORP ORD	8,000	$238K	0.1%	$20.32	—	COM	903914109
CAG	CONAGRA FOODS INC COM	7,570	$225K	0.1%	$17.69	-7.8%	COM	205887102
—	CA INCORPORATED COM	7,455	$214K	0.1%	$28.57	—	COM	12673P105