Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
VPL	VANGUARD FTSE PACIFIC ETF	703,200	$37.76M	26.4%	$57.05	—	COM	922042866
VOO	VANGUARD S&P 500 ETF	160,920	$28.27M	19.8%	$187.58	—	COM	922908363
VEA	VANGUARD FTSE DEVELOPED ETF	520,252	$18.54M	13.0%	$39.18	—	COM	921943858
EWP	ISHARES MSCI SPAIN INDEX FUND	203,586	$6.038M	4.2%	$36.85	—	COM	464286764
VB	VANGUARD SMALL-CAP ETF	46,917	$5.065M	3.5%	$113.63	—	COM	922908751
ORCL	ORACLE CORP	52,100	$1.882M	1.3%	$28.86	+14.0%	COM	68389X105
BRK/B	BERKSHIRE HATHAWAY INC-CL B	14,150	$1.845M	1.3%	$118.20	+15.9%	COM	084670702
—	ISHARES MSCI TAIWAN INDEX FD	139,000	$1.829M	1.3%	$15.74	—	COM	464286731
MSFT	MICROSOFT CORP	37,800	$1.673M	1.2%	$30.02	+29.7%	COM	594918104
—	LIBERTY GLOBAL INC SERIES C	37,000	$1.518M	1.1%	$41.03	—	COM	G5480U120
—	AON PLC	16,700	$1.48M	1.0%	$77.33	—	COM	G0408V102
C	CITIGROUP INC	29,300	$1.454M	1.0%	$37.61	+8.4%	COM	172967424
AMZN	AMAZON.COM INC	2,800	$1.433M	1.0%	$15.84	+59.6%	COM	023135106
ECL	ECOLAB INC	10,300	$1.13M	0.8%	$90.95	+9.7%	COM	278865100
UNH	UNITED HEALTH GROUP INC	9,300	$1.079M	0.8%	$59.09	+71.3%	COM	91324P102
—	ALTERA CORP	21,500	$1.077M	0.8%	$41.11	—	COM	021441100
—	TWENTY-FIRST CENTURY FOX - B	38,150	$1.033M	0.7%	$31.59	—	COM	90130A200
KBE	SPDR S&P BANK ETF	30,771	$1.023M	0.7%	$33.20	—	COM	78464A797
VWO	VANGUARD EMERGING MARKET	30,536	$1.01M	0.7%	$39.58	—	COM	922042858
MDLZ	MONDELEZ INTERNATIONAL INC	23,800	$997K	0.7%	$25.52	+33.3%	COM	609207105
—	DISH NETWORK CORP - A	16,500	$963K	0.7%	$62.70	—	COM	25470M109
PEP	PEPSICO INC	9,400	$886K	0.6%	$57.75	+20.4%	COM	713448108
MS	MORGAN STANLEY	27,500	$866K	0.6%	$21.86	+24.7%	COM	617446448
TFSL	TFS FINANCIAL CORP	49,860	$860K	0.6%	$7.25	+23.5%	COM	87240R107
—	SYNOVUS FINANCIAL CORP	25,505	$755K	0.5%	$24.13	—	COM	87161C501
—	CORE-MARK HOLDING CO INC	11,492	$752K	0.5%	$53.02	—	COM	218681104
—	VALEANT PHARMACEUTICALS INTE	4,100	$731K	0.5%	$126.10	—	COM	91911K102
JPM	JPMORGAN CHASE & CO	10,900	$665K	0.5%	$41.85	+18.6%	COM	46625H100
TMO	THERMO FISHER SCIENTIFIC INC	5,400	$660K	0.5%	$95.60	+32.1%	COM	883556102
SATS	ECHOSTAR CORP-A	14,745	$634K	0.4%	$41.00	-10.1%	COM	278768106
—	NEENAH PAPER INC	10,607	$618K	0.4%	$54.93	—	COM	640079109
—	NOBLE ENERGY INC.	20,400	$616K	0.4%	$63.97	—	COM	655044105
BR	BROADRIDGE FINANCIAL SOLUTIO	10,870	$602K	0.4%	$33.89	+32.3%	COM	11133T103
AIN	ALBANY INTL CORP-CL A	20,980	$600K	0.4%	$31.70	-6.5%	COM	012348108
—	AMERICAN CAPITAL LTD	49,150	$598K	0.4%	$13.99	—	COM	02503Y103
BABA	ALIBABA GROUP HOLDING-SP ADR	10,050	$593K	0.4%	$79.46	—	ADR	01609W102
BAC	BANK OF AMERICA CORP	37,900	$590K	0.4%	$13.13	+2.4%	COM	060505104
—	CASH AMERICA INTL INC	20,205	$565K	0.4%	$22.85	—	COM	14754D100
—	ATLANTIC TELE-NETWORK INC	7,625	$564K	0.4%	$53.87	—	COM	049079205
—	GOOGLE INC-CL A	880	$562K	0.4%	$585.01	—	COM	38259P508
GS	GOLDMAN SACHS GROUP INC	3,200	$556K	0.4%	$128.81	+23.3%	COM	38141G104
—	STANCORP FINANCIAL GROUP	4,760	$544K	0.4%	$79.80	—	COM	852891100
—	DIAMOND RESORTS INTERNATIONA	23,125	$541K	0.4%	$30.67	—	COM	25272T104
—	FOREST CITY ENTERPRISES-CL A	26,590	$535K	0.4%	$19.61	—	COM	345550107
WRB	WR BERKLEY CORP	9,700	$527K	0.4%	$9.82	+32.3%	COM	084423102
AIZ	ASSURANT INC	6,620	$523K	0.4%	$52.24	+16.1%	COM	04621X108
—	TWENTY-FIRST CENTURY FOX INC	19,125	$516K	0.4%	$29.75	—	COM	90130A101
—	MFA FINANCIAL INC	69,822	$475K	0.3%	$7.62	—	COM	55272X102
NPO	ENPRO INDUSTRIES INC	11,890	$466K	0.3%	$68.11	-28.8%	COM	29355X107
STZ	CONSTELLATION BRANDS INC-A	3,650	$457K	0.3%	$57.22	+85.3%	COM	21036P108
CLW	CLEARWATER PAPER CORP	9,563	$452K	0.3%	$65.51	-18.0%	COM	18538R103
—	AIR METHODS CORP	12,530	$427K	0.3%	$52.03	—	COM	009128307
—	NORTHSTAR ASSET MANAGEMEN-WI	29,552	$424K	0.3%	$17.23	—	COM	66705Y104
—	DELTIC TIMBER CORP	6,748	$404K	0.3%	$66.69	—	COM	247850100
—	DENNY'S CORPORATION	36,137	$399K	0.3%	$7.03	—	COM	24869P104
CTS	CTS CORP	20,565	$381K	0.3%	$16.53	+7.0%	COM	126501105
MGRC	MCGRATH RENTCORP	14,155	$378K	0.3%	$35.61	-25.2%	COM	580589109
KAI	KADANT INC	9,520	$371K	0.3%	$35.46	+13.6%	COM	48282T104
FSS	FEDERAL SIGNAL CORP	21,670	$297K	0.2%	$13.80	-8.2%	COM	313855108
—	PRAXAIR INC	2,900	$295K	0.2%	$130.02	—	COM	74005P104
—	ORITANI FINANCIAL CORP	18,815	$294K	0.2%	$14.60	—	COM	68633D103
CATO	CATO CORP-CLASS A	8,640	$294K	0.2%	$18.00	+12.0%	COM	149205106
—	RIGNET INC	10,840	$276K	0.2%	$40.47	—	COM	766582100
PARR	PAR PACIFIC HOLDINGS INC	12,987	$271K	0.2%	$19.25	0.0%	COM	69888T207
KHC	KRAFT HEINZ CO/THE	3,800	$268K	0.2%	$47.82	0.0%	COM	500754106
CASY	CASEYS GENERAL STORES INC	2,567	$264K	0.2%	$64.98	+47.8%	COM	147528103
MUSA	MURPHY USA INC	4,650	$256K	0.2%	$51.75	0.0%	COM	626755102
—	LIBERTY LILAC GROUP-C	7,485	$256K	0.2%	$34.20	—	COM	G5480U153
RNST	RENASANT CORP	7,460	$245K	0.2%	$30.71	+4.6%	COM	75970E107
TV	GRUPO TELEVISA SA - ADR	9,350	$243K	0.2%	$25.99	—	ADR	40049J206
MMS	MAXIMUS INC	4,046	$241K	0.2%	$41.38	+53.6%	COM	577933104
—	DISCOVERY COMMUNICATIONS-A	9,150	$238K	0.2%	$34.49	—	COM	25470F104
—	DIGITALGLOBE INC	12,420	$236K	0.2%	$28.49	—	COM	25389M877
—	NATIONAL GENERAL HLDGS	10,665	$206K	0.1%	$16.87	—	COM	636220303
—	MAIDEN HOLDINGS LTD	12,395	$172K	0.1%	$11.07	—	COM	G5753U112
—	DESTINATION MATERNITY CORP	16,299	$150K	0.1%	$15.45	—	COM	25065D100
—	CAMPUS CREST COMMUNITIES INC	23,030	$123K	0.1%	$7.26	—	COM	13466Y105