The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ACADIA REALTY TRUST COM 004239109 309 9,318 SH   DFND 1 0 9,318 0
AGCO CORP COM 001084102 1,800 39,657 SH   SOLE 1 39,657 0 0
AIRCASTLE LTD COM G0129K104 1,462 69,988 SH   SOLE 1 69,988 0 0
ALCOA INC COM 013817101 1,818 184,227 SH   SOLE 1 184,227 0 0
ALKAMAI TECHNOLOGIES INC COM 00971T101 1,942 36,902 SH   SOLE 1 36,902 0 0
AMERICAN TOWER CORP COM 03027X100 610 6,293 SH   DFND 1 0 6,293 0
AMERIGAS PARTNERS L P UNIT L P INT 030975106 1,293 37,727 SH   SOLE 1 37,727 0 0
APARTMENT INVT & MGMT CO CL A 03748R101 238 5,948 SH   DFND 1 0 5,948 0
ATLANTIC TELE NETWORK INC COM NEW 049079205 812 10,382 SH   SOLE 1 10,382 0 0
AVALONBAY CMNTYS INC COM 053484101 484 2,631 SH   DFND 1 0 2,631 0
BEMIS INC COM 081437105 641 14,346 SH   SOLE 1 14,346 0 0
BORGWARNER INC COM 099724106 1,082 25,026 SH   SOLE 1 25,026 0 0
BOSTON PROPERTIES INC COM 101121101 350 2,745 SH   DFND 1 0 2,745 0
BUNGE LIMITED COM G16962105 589 8,619 SH   SOLE 1 8,619 0 0
CAMDEN PPTY TR SH BEN INT 133131102 209 2,720 SH   DFND 1 0 2,720 0
CHEVRON CORP NEW COM 166764100 986 10,965 SH   SOLE 1 10,965 0 0
CHICAGO BRIDGE & IRON CO N V N Y REGISTRY SH 167250109 1,222 31,333 SH   SOLE 1 31,333 0 0
CINCINNATI FINL CORP COM 172062101 1,014 17,138 SH   SOLE 1 17,138 0 0
CINEMARK HOLDINGS INC COM 17243V102 1,078 32,246 SH   SOLE 1 32,246 0 0
CITRIX SYS INC COM 177376100 985 13,025 SH   SOLE 1 13,025 0 0
CME GROUP INC COM 12572Q105 1,540 16,996 SH   SOLE 1 16,996 0 0
CNA FINL CORP COM 126117100 461 13,118 SH   SOLE 1 13,118 0 0
COMMUNICATIONS SALES AND LEAS IN COM 20341J104 219 11,742 SH   SOLE 1 11,742 0 0
COMPASS DIVERSIFIED HOLDINGS SH BEN INT 20451Q104 494 31,062 SH   SOLE 1 31,062 0 0
COMPASS MINERALS INTL INC COM 20451N101 1,653 21,959 SH   SOLE 1 21,959 0 0
COOPER TIRE & RUBR CO COM 216831107 1,167 30,829 SH   SOLE 1 30,829 0 0
COPA HOLDINGS SA CL A P31076105 1,787 37,038 SH   SOLE 1 37,038 0 0
CORNING INC COM 219350105 1,451 79,365 SH   SOLE 1 79,365 0 0
CREE INC COM 225447101 2,005 75,184 SH   SOLE 1 75,184 0 0
CSG SYS INTL INC COM 126349109 645 17,927 SH   SOLE 1 17,927 0 0
CYRUSONE INC COM 23283R100 271 7,226 SH   DFND 1 0 7,226 0
DEVRY INC DEL COM 251893103 1,436 56,726 SH   SOLE 1 56,726 0 0
DIGITAL RLTY TR INC COM 253868103 232 3,072 SH   DFND 1 0 3,072 0
DOMTAR CORP COM 257559203 1,165 31,525 SH   SOLE 1 31,525 0 0
DONALDSON INC COM 257651109 685 23,918 SH   SOLE 1 23,918 0 0
DUKE REALTY CORP COM 264411505 278 13,208 SH   DFND 1 0 13,208 0
EATON VANCE CORP COM NON VTG 278265103 707 21,789 SH   SOLE 1 21,789 0 0
EMERSON ELEC CO COM 291011104 954 19,956 SH   SOLE 1 19,956 0 0
EQUINIX INC COM 29444U700 297 981 SH   DFND 1 0 981 0
ESSEX PPTY TR INC COM 297178105 480 2,005 SH   DFND 1 0 2,005 0
EXTRA SPACE STORAGE INC COM 30225T102 406 4,597 SH   DFND 1 0 4,597 0
EXXON MOBIL CORP COM 30231G102 1,499 19,224 SH   SOLE 1 19,224 0 0
F M C CORP COM 302491303 1,483 37,901 SH   SOLE 1 37,901 0 0
FASTENAL CO COM 311900104 2,265 55,490 SH   SOLE 1 55,490 0 0
FMC TECHNOLOGIES INC COM 30249U101 1,805 62,218 SH   SOLE 1 62,218 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 620 43,999 SH   SOLE 1 43,999 0 0
GANNET CO INC COM 36473H104 399 24,518 SH   SOLE 1 24,518 0 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 312 11,457 SH   DFND 1 0 11,457 0
GENTEX CORP COM 371901109 1,424 88,922 SH   SOLE 1 88,922 0 0
GEO GROUP INC NEW GANNET CO INC COM 36162J106 1,407 48,676 SH   SOLE 1 48,676 0 0
GERDAU S A SPONSORED ADR 373737105 544 453,028 SH   SOLE 1 453,028 0 0
INTEL CORP COM 458140100 2,722 79,004 SH   SOLE 1 79,004 0 0
INTERPUBLIC GROUP COS INC COM 460690100 1,883 80,899 SH   SOLE 1 80,899 0 0
IRON MTN INC NEW COM 46284V101 2,233 82,658 SH   SOLE 1 82,658 0 0
ITRON INC COM 465741106 1,305 36,082 SH   SOLE 1 36,082 0 0
J2 GLOBAL INC COM 48123V102 1,126 13,676 SH   SOLE 1 13,676 0 0
JABIL CIRCUIT INC COM 466313103 1,964 84,326 SH   SOLE 1 84,326 0 0
JUNIPER NETWORKS INC COM 48203R104 2,617 94,812 SH   SOLE 1 94,812 0 0
KIMBERLY CLARK CORP COM 494368103 2,072 16,276 SH   SOLE 1 16,276 0 0
KOHLS CORP COM 500255104 1,509 31,676 SH   SOLE 1 31,676 0 0
LEAR CORP COM 521865204 1,527 12,428 SH   SOLE 1 12,428 0 0
MACERICH CO COM 554382101 270 3,350 SH   DFND 1 0 3,350 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 471 6,929 SH   SOLE 1 6,929 0 0
MARTIN MIDSTREAM PRTNRS L P UNIT L P INT 573331105 554 25,538 SH   SOLE 1 25,538 0 0
MATTEL INC COM 577081102 2,920 107,481 SH   SOLE 1 107,481 0 0
MCDERMOTT INTL INC COM 580037109 915 273,238 SH   SOLE 1 273,238 0 0
MICROSOFT CORP COM 594918104 3,750 67,595 SH   SOLE 1 67,595 0 0
MID-AMER APT CMNTYS INC COM 59522J103 263 2,895 SH   DFND 1 0 2,895 0
MOLSON COORS BREWING CO CL B 60871R209 1,775 18,896 SH   SOLE 1 18,896 0 0
MOTOROLA SOLUTIONS INC COM 620076307 2,044 29,867 SH   SOLE 1 29,867 0 0
MSC INDL DIRECT INC CL A 553530106 857 15,223 SH   SOLE 1 15,223 0 0
NATIONAL CINEMEDIA INC COM 635309107 744 47,364 SH   SOLE 1 47,364 0 0
NATIONAL FUEL GAS CO N J COM 636180101 1,286 30,073 SH   SOLE 1 30,073 0 0
NATIONAL RETAIL PROPERTIES I COM 637417106 260 6,502 SH   DFND 1 0 6,502 0
NEW YORK TIMES CO CL A 650111107 2,110 157,240 SH   SOLE 1 157,240 0 0
NORTHERN TR CORP COM 665859104 1,801 24,984 SH   SOLE 1 24,984 0 0
NUANCE COMMUNICATIONS INC COM 67020Y100 1,852 93,134 SH   SOLE 1 93,134 0 0
NUCOR CORP COM 670346105 956 23,729 SH   SOLE 1 23,729 0 0
NVIDIA CORP COM 67066G104 1,462 44,347 SH   SOLE 1 44,347 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 1,701 25,157 SH   SOLE 1 25,157 0 0
OFFICE DEPOT INC COM 676220106 795 140,939 SH   SOLE 1 140,939 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 289 8,264 SH   DFND 1 0 8,264 0
OMNICOM GROUP INC COM 681919106 2,583 34,144 SH   SOLE 1 34,144 0 0
OWENS & MINOR INC NEW COM 690732102 1,491 41,447 SH   SOLE 1 41,447 0 0
OWENS CORNING NEW COM 690742101 2,167 46,077 SH   SOLE 1 46,077 0 0
PARKER HANNIFIN CORP COM 701094104 1,103 11,371 SH   SOLE 1 11,371 0 0
PEPSICO INC COM 713448108 918 9,185 SH   SOLE 1 9,185 0 0
PNC FINL SVCS GROUP INC COM 693475105 3,254 34,145 SH   SOLE 1 34,145 0 0
PRAXAIR INC COM 74005P104 1,316 12,847 SH   SOLE 1 12,847 0 0
PROLOGIS INC COM 74340W103 434 10,119 SH   DFND 1 0 10,119 0
PROSHARES TR PSHS CS 130/30 74347R248 7,337 148,640 SH   DFND 1 0 148,640 0
QUALCOMM INC COM 747525103 941 18,828 SH   SOLE 1 18,828 0 0
QUEST DIAGNOSTICS INC COM 74834L100 3,448 48,472 SH   SOLE 1 48,472 0 0
RAYMOND JAMES FINANCIAL INC COM 754730109 2,149 37,077 SH   SOLE 1 37,077 0 0
REPUBLIC SVCS INC COM COM 760759100 1,381 31,403 SH   SOLE 1 31,403 0 0
RETAIL OPPORTUNITY INVTS COR COM 76131N101 248 13,854 SH   DFND 1 0 13,854 0
ROGERS COMMUNICATIONS INC CL B 775109200 706 20,490 SH   SOLE 1 20,490 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 640 31,654 SH   SOLE 1 31,654 0 0
SCHOLASTIC CORP COM 807066105 1,116 28,948 SH   SOLE 1 28,948 0 0
SCHWAB STRATEGIC TR US MID-CAP ETF 808524508 252 6,293 SH   SOLE 1 6,293 0 0
SIMON PPTY GROUP INC NEW COM 828806109 918 4,721 SH   DFND 1 0 4,721 0
SL GREEN RLTY CORP COM 78440X101 261 2,309 SH   DFND 1 0 2,309 0
SOVRAN SELF STORAGE INC COM 84610H108 360 3,354 SH   DFND 1 0 3,354 0
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 280 1,102 SH   SOLE 1 1,102 0 0
SPECTRA ENERGY PARTNERS LP COM 84756N109 782 16,387 SH   SOLE 1 16,387 0 0
SPIRIT REALTY CAPITAL INC COM 84860W102 160 15,953 SH   DFND 1 0 15,953 0
STAPLES INC COM 855030102 118 12,447 SH   SOLE 1 12,447 0 0
STOCK YDS BANCORP INC COM 861025104 537 14,222 SH   SOLE 1 14,222 0 0
SYSCO CORP COM 871829107 2,091 50,997 SH   SOLE 1 50,997 0 0
TARGET CORP COM 87612E106 1,473 20,287 SH   SOLE 1 20,287 0 0
TEGNA INC COM 87901J105 1,518 59,483 SH   SOLE 1 59,483 0 0
TERADATA CORP DEL COM 88076W103 1,851 70,070 SH   SOLE 1 70,070 0 0
THE ADT CORPORATION COM 00101J106 2,389 72,443 SH   SOLE 1 72,443 0 0
THOMSON REUTERS CORP COM 884903105 1,703 45,005 SH   SOLE 1 45,005 0 0
TIME INC NEW COM 887228104 1,478 94,341 SH   SOLE 1 94,341 0 0
TRANSMONTAIGNE PARTNERS L P COM UNIT L P 89376V100 531 19,833 SH   SOLE 1 19,833 0 0
TRANSOCEAN LTD REG SHS H8817H100 1,137 91,821 SH   SOLE 1 91,821 0 0
UNILEVER PLC SPON ADR NEW 904767704 1,464 33,948 SH   SOLE 1 33,948 0 0
UNISYS CORP COM COM 909214306 718 64,978 SH   SOLE 1 64,978 0 0
UNITED PARCEL SERVICE INC CL B 911312106 1,860 19,333 SH   SOLE 1 19,333 0 0
UNITED STATES STL CORP COM 912909108 760 95,299 SH   SOLE 1 95,299 0 0
US BANCORP DEL COM 902973304 2,471 57,905 SH   SOLE 1 57,905 0 0
VARIAN MED SYS INC COM 92220P105 1,884 23,315 SH   SOLE 1 23,315 0 0
VECTREN CORP COM 92240G101 1,384 32,625 SH   SOLE 1 32,625 0 0
VENTAS INC COM 92276F100 1,721 30,497 SH   SOLE 1 30,497 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 2,455 53,108 SH   SOLE 1 53,108 0 0
WAL MART STORES INC COM 931142103 1,827 29,797 SH   SOLE 1 29,797 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 230 6,657 SH   DFND 1 0 6,657 0
WELLS FARGO & CO NEW COM 949746101 2,964 54,523 SH   SOLE 1 54,523 0 0
WELLTOWER INC COM 95040Q104 603 8,865 SH   DFND 1 0 8,865 0
WERNER ENTERPRISES INC COM 950755108 1,163 49,734 SH   SOLE 1 49,734 0 0
WESTERN UN CO COM 959802109 1,488 83,108 SH   SOLE 1 83,108 0 0
WEYERHAEUSER CO COM 962166104 1,335 44,543 SH   SOLE 1 44,543 0 0
XYLEM INC COM 98419M100 1,698 46,523 SH   SOLE 1 46,523 0 0