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
ABM INDS INC COM 000957100 556 17,445 SH   DFND 1 0 17,445 0
AGCO CORP COM 001084102 3,253 68,279 SH   DFND 1 0 68,279 0
ACADIA RLTY TR COM SH BEN INT 004239109 315 9,017 SH   SOLE 1 9,017 0 0
ALCOA INC COM 013817101 1,669 129,197 SH   DFND 1 0 129,197 0
AMERIGAS PARTNERS L P UNIT L P INT 030975106 1,359 28,466 SH   DFND 1 0 28,466 0
ATLANTIC TELE NETWORK INC COM NEW 049079205 850 12,276 SH   DFND 1 0 12,276 0
BEMIS INC COM 081437105 734 15,852 SH   DFND 1 0 15,852 0
BOB EVANS FARMS INC COM 096761101 1,424 30,790 SH   DFND 1 0 30,790 0
BORGWARNER INC COM 099724106 1,411 23,336 SH   DFND 1 0 23,336 0
CNA FINL CORP COM 126117100 599 14,464 SH   DFND 1 0 14,464 0
CSG SYS INTL INC COM 126349109 763 25,103 SH   DFND 1 0 25,103 0
CHARLES RIV LABS INTL INC COM 159864107 313 3,952 SH   DFND 1 0 3,952 0
CHEVRON CORP NEW COM 166764100 1,964 18,712 SH   DFND 1 0 18,712 0
CHICAGO BRIDGE & IRON CO N V N Y REGISTRY SH 167250109 1,689 34,290 SH   DFND 1 0 34,290 0
CINCINNATI FINL CORP COM 172062101 1,266 23,755 SH   DFND 1 0 23,755 0
CITRIX SYS INC COM 177376100 2,159 33,797 SH   DFND 1 0 33,797 0
CON-WAY INC COM 205944101 1,526 34,576 SH   DFND 1 0 34,576 0
COOPER TIRE & RUBR CO COM 216831107 1,989 46,430 SH   DFND 1 0 46,430 0
CREE INC COM 225447101 3,020 85,102 SH   DFND 1 0 85,102 0
DEVRY INC DEL COM 251893103 2,041 61,168 SH   DFND 1 0 61,168 0
EATON VANCE CORP COM NON VTG 278265103 1,090 26,177 SH   DFND 1 0 26,177 0
EMERSON ELEC CO COM 291011104 1,905 33,650 SH   DFND 1 0 33,650 0
F M C CORP COM NEW 302491303 2,625 45,847 SH   DFND 1 0 45,847 0
FASTENAL CO COM 311900104 2,048 49,435 SH   DFND 1 0 49,435 0
FORD MTR CO DEL COM PAR $0.01 345370860 781 48,381 SH   DFND 1 0 48,381 0
GANNETT INC COM 364730101 2,250 60,677 SH   DFND 1 0 60,677 0
GERDAU S A SPON ADR REP PFD 373737105 1,699 531,056 SH   DFND 1 0 531,056 0
HASBRO INC COM 418056107 2,162 34,189 SH   DFND 1 0 34,189 0
HOSPIRA INC COM 441060100 1,626 18,511 SH   DFND 1 0 18,511 0
INTEL CORP COM 458140100 2,721 87,031 SH   DFND 1 0 87,031 0
INTERPUBLIC GROUP COS INC COM 460690100 2,326 105,145 SH   DFND 1 0 105,145 0
ITRON INC COM 465741106 1,895 51,902 SH   DFND 1 0 51,902 0
JABIL CIRCUIT INC COM 466313103 2,595 111,007 SH   DFND 1 0 111,007 0
KIMBERLY CLARK CORP COM 494368103 1,929 18,006 SH   DFND 1 0 18,006 0
KOHLS CORP COM 500255104 2,748 35,112 SH   DFND 1 0 35,112 0
LEAR CORP COM 521865204 1,731 15,621 SH   DFND 1 0 15,621 0
MATTEL INC COM 577081102 2,822 123,510 SH   DFND 1 0 123,510 0
MCDERMOTT INTL INC COM 580037109 1,361 354,518 SH   DFND 1 0 354,518 0
MEMORIAL PRODTN PARTNERS LP COM U REP LTD 586048100 750 46,238 SH   DFND 1 0 46,238 0
MICROSOFT CORP COM 594918104 2,933 72,151 SH   DFND 1 0 72,151 0
MOTOROLA SOLUTIONS INC COM NEW 620076307 2,197 32,955 SH   DFND 1 0 32,955 0
MYERS INDS INC COM 628464109 949 54,111 SH   DFND 1 0 54,111 0
NATIONAL CINEMEDIA INC COM 635309107 786 52,042 SH   DFND 1 0 52,042 0
NATIONAL FUEL GAS CO N J COM 636180101 2,653 43,970 SH   DFND 1 0 43,970 0
NEW YORK TIMES CO CL A CL A 650111107 2,547 185,119 SH   DFND 1 0 185,119 0
NORTHERN TR CORP COM 665859104 2,318 33,280 SH   DFND 1 0 33,280 0
NUCOR CORP COM 670346105 1,253 26,370 SH   DFND 1 0 26,370 0
OCCIDENTAL PETE CORP DEL COM 674599105 2,608 35,731 SH   DFND 1 0 35,731 0
OMNICOM GROUP INC COM 681919106 2,368 30,366 SH   DFND 1 0 30,366 0
OWENS & MINOR INC NEW COM 690732102 1,616 47,766 SH   DFND 1 0 47,766 0
OWENS CORNING NEW COM 690742101 3,701 85,267 SH   DFND 1 0 85,267 0
PNC FINL SVCS GROUP INC COM 693475105 2,917 31,282 SH   DFND 1 0 31,282 0
PARKER HANNIFIN CORP COM 701094104 1,542 12,979 SH   DFND 1 0 12,979 0
PEPSICO INC COM 713448108 970 10,140 SH   DFND 1 0 10,140 0
QUALCOMM INC COM 747525103 2,186 31,519 SH   DFND 1 0 31,519 0
RAYMOND JAMES FINANCIAL INC COM 754730109 1,639 28,857 SH   DFND 1 0 28,857 0
REPUBLIC SVCS INC COM 760759100 1,402 34,558 SH   DFND 1 0 34,558 0
ROGERS COMMUNICATIONS INC CL B 775109200 1,731 51,710 SH   DFND 1 0 51,710 0
SCHOLASTIC CORP COM 807066105 1,792 43,780 SH   DFND 1 0 43,780 0
STAPLES INC COM 855030102 1,750 107,465 SH   DFND 1 0 107,465 0
SYSCO CORP COM 871829107 1,953 51,764 SH   DFND 1 0 51,764 0
THOMSON REUTERS CORP COM 884903105 2,004 49,407 SH   DFND 1 0 49,407 0
TIME INC NEW COM 887228104 2,415 107,631 SH   DFND 1 0 107,631 0
US BANCORP DEL COM NEW 902973304 2,788 63,842 SH   DFND 1 0 63,842 0
UNILEVER PLC SPON ADR NEW 904767704 1,562 37,454 SH   DFND 1 0 37,454 0
UNISYS CORP COM NEW 909214306 1,773 76,380 SH   DFND 1 0 76,380 0
UNITED PARCEL SERVICE INC CL B 911312106 2,056 21,209 SH   DFND 1 0 21,209 0
UNITED STATES STL CORP NEW COM 912909108 2,898 118,788 SH   DFND 1 0 118,788 0
WAL MART STORES INC COM 931142103 1,090 13,253 SH   DFND 1 0 13,253 0
WELLS FARGO & CO NEW COM 949746101 2,686 49,379 SH   DFND 1 0 49,379 0
WERNER ENTERPRISES INC COM 950755108 1,325 42,180 SH   DFND 1 0 42,180 0
WESTERN UN CO COM 959802109 1,895 91,038 SH   DFND 1 0 91,038 0
THE ADT CORPORATION COM 00101J106 3,532 85,072 SH   DFND 1 0 85,072 0
AGREE REALTY CORP COM 008492100 248 7,508 SH   SOLE 1 7,508 0 0
AKAMAI TECHNOLOGIES INC COM 00971T101 2,426 34,148 SH   DFND 1 0 34,148 0
AMERICAN TOWER CORP NEW COM 03027X100 818 8,686 SH   SOLE 1 8,686 0 0
BIOMED REALTY TRUST INC COM 09063H107 320 14,131 SH   SOLE 1 14,131 0 0
BOSTON PROPERTIES INC COM 101121101 653 4,648 SH   SOLE 1 4,648 0 0
CME GROUP INC COM 12572Q105 1,774 18,734 SH   DFND 1 0 18,734 0
CHESAPEAKE LODGING TR SH BEN INT 165240102 333 9,831 SH   SOLE 1 9,831 0 0
CINEMARK HOLDINGS INC COM 17243V102 1,631 36,187 SH   DFND 1 0 36,187 0
COMPASS MINERALS INTL INC COM 20451N101 1,688 18,115 SH   DFND 1 0 18,115 0
COMPASS DIVERSIFIED HOLDINGS SH BEN INT 20451Q104 586 34,292 SH   DFND 1 0 34,292 0
CYRUSONE INC COM 23283R100 219 7,033 SH   SOLE 1 7,033 0 0
CYRUSONE INC COM 23283R100 1,895 60,900 SH   DFND 1 0 60,900 0
DUPONT FABROS TECHNOLOGY INC COM 26613Q106 233 7,128 SH   SOLE 1 7,128 0 0
EPR PPTYS COM SH BEN INT 26884U109 297 4,947 SH   SOLE 1 4,947 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 689 8,851 SH   SOLE 1 8,851 0 0
ESSEX PPTY TR NC COM 297178105 571 2,482 SH   SOLE 1 2,482 0 0
EXTRA SPACE STORAGE INC COM 30225T102 440 6,517 SH   SOLE 1 6,517 0 0
FMC TECHNOLOGIES INC COM 30249U101 2,719 73,466 SH   DFND 1 0 73,466 0
FIDELITY NATIONAL FINANCIAL FNFV GROUP COM 31620R402 110 7,823 SH   DFND 1 0 7,823 0
FINISAR CORP COM NEW 31787A507 1,670 78,247 SH   DFND 1 0 78,247 0
GEO GROUP INC NEW COM 36162J106 322 7,362 SH   SOLE 1 7,362 0 0
GEO GROUP INC NEW COM 36162J106 1,729 39,534 SH   DFND 1 0 39,534 0
HUDSON PAC PPTYS INC COM 444097109 239 7,206 SH   SOLE 1 7,206 0 0
HYATT HOTELS CORP COM CL A 448579102 202 3,408 SH   SOLE 1 3,408 0 0
INNOPHOS HOLDINGS INC COM 45774N108 934 16,575 SH   DFND 1 0 16,575 0
IRON MTN INC NEW COM 46284V101 3,555 97,452 SH   DFND 1 0 97,452 0
J2 GLOBAL INC COM 48123V102 1,963 29,889 SH   DFND 1 0 29,889 0
JUNIPER NETWORKS INC COM 48203R104 3,158 139,865 SH   DFND 1 0 139,865 0
KIMCO RLTY CORP COM 49446R109 378 14,075 SH   SOLE 1 14,075 0 0
LTC PPTYS INC COM 502175102 382 8,300 SH   SOLE 1 8,300 0 0
MACERICH CO COM 554382101 402 4,767 SH   SOLE 1 4,767 0 0
MANPOWERGROUP INC COM 56418H100 1,065 12,367 SH   DFND 1 0 12,367 0
MOLSON COORS BREWING CO CL B 60871R209 2,803 37,643 SH   DFND 1 0 37,643 0
NUANCE COMMUNICATIONS INC COM 67020Y100 2,731 190,348 SH   DFND 1 0 190,348 0
NVIDIA CORP COM 67066G104 1,720 82,217 SH   DFND 1 0 82,217 0
OMEGA HEALTHCARE INVS INC COM 681936100 432 10,653 SH   SOLE 1 10,653 0 0
POLYPORE INTL INC COM 73179V103 2,301 39,069 SH   DFND 1 0 39,069 0
PROSHARES TR PSHS LC COR PLUS 74347R248 15,978 159,000 SH   SOLE 1 159,000 0 0
QUEST DIAGNOSTICS INC COM 74834L100 5,134 66,799 SH   DFND 1 0 66,799 0
RETAIL OPPORTUNITY INVTS COR COM 76131N101 287 15,667 SH   SOLE 1 15,667 0 0
SL GREEN RLTY CORP COM 78440X101 520 4,054 SH   SOLE 1 4,054 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 1,223 36,879 SH   DFND 1 0 36,879 0
SHAW COMMUNICATIONS INC CL B CONV 82028K200 1,402 62,527 SH   DFND 1 0 62,527 0
SIMON PPTY GROUP INC NEW COM 828806109 983 5,025 SH   SOLE 1 5,025 0 0
SOVRAN SELF STORAGE INC COM 84610H108 384 4,091 SH   SOLE 1 4,091 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 322 26,633 SH   SOLE 1 26,633 0 0
STAG INDL INC COM 85254J102 355 15,106 SH   SOLE 1 15,106 0 0
STRATEGIC HOTELS & RESORTS I COM 86272T106 369 29,696 SH   SOLE 1 29,696 0 0
TARGET CORP COM 87612E106 1,854 22,596 SH   DFND 1 0 22,596 0
TAUBMAN CTRS INC COM 876664103 275 3,566 SH   SOLE 1 3,566 0 0
TERADATA CORP DEL COM 88076W103 3,128 70,872 SH   DFND 1 0 70,872 0
TRANSMONTAIGNE PARTNERS L P COM UNIT L P 89376V100 747 23,157 SH   DFND 1 0 23,157 0
UDR INC COM 902653104 537 15,778 SH   SOLE 1 15,778 0 0
VARIAN MED SYS INC COM 92220P105 2,104 22,363 SH   DFND 1 0 22,363 0
VENTAS INC COM 92276F100 806 11,036 SH   SOLE 1 11,036 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 2,846 58,527 SH   DFND 1 0 58,527 0
VORNADO RLTY TR SH BEN INT 929042109 501 4,472 SH   SOLE 1 4,472 0 0
WEYERHAEUSER CO COM 962166104 474 14,296 SH   SOLE 1 14,296 0 0
WILLIAMS PARTNERS L P NEW COM UNIT LTD PAR 96949L105 1,813 36,826 SH   DFND 1 0 36,826 0
XYLEM INC COM 98419M100 2,141 61,134 SH   DFND 1 0 61,134 0
AIRCASTLE LTD COM G0129K104 1,188 52,887 SH   DFND 1 0 52,887 0
BUNGE LIMITED COM G16962105 1,481 17,984 SH   DFND 1 0 17,984 0
PARTNERRE LTD COM G6852T105 1,742 15,233 SH   DFND 1 0 15,233 0
WHITE MTNS INS GROUP LTD COM G9618E107 219 320 SH   DFND 1 0 320 0
TRANSOCEAN LTD REG SHS H8817H100 2,228 151,887 SH   DFND 1 0 151,887 0