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
APPLE COMPUTER INC Common 037833100 2,313,835 10,250 SH   SOLE   10,250 0 0
ABBOTT LABORATORIES Common 002824100 2,186,128 29,800 SH   SOLE   29,800 0 0
ADA-ES INC Common 00770C101 634,561 53,057 SH   SOLE   53,057 0 0
ARMSTRONG FLOORING INC Common 04238R106 490,528 27,101 SH   SOLE   27,101 0 0
AGILYSIS INC Common 00847J105 584,110 35,835 SH   SOLE   35,835 0 0
A H BELO CORPORATION SERIES A Common Series A 001282102 377,660 82,100 SH   SOLE   82,100 0 0
ASPEN INS. HOLD. Common G05384105 610,280 14,600 SH   SOLE   14,600 0 0
AAR CORP COM Common 000361105 945,492 19,743 SH   SOLE   19,743 0 0
AKORN INC CMN Common 009728106 201,190 15,500 SH   SOLE   15,500 0 0
AMC NETWORKS INC Common 00164V103 729,740 11,000 SH   SOLE   11,000 0 0
ANGIODYNAMICS INC Common 03475V101 110,874 5,100 SH   SOLE   5,100 0 0
ALPHA & OMEGA SEMICONDUCTOR Common G6331P104 652,826 56,133 SH   SOLE   56,133 0 0
AMERICAN EXPRESS CO. CMN Common 025816109 425,960 4,000 SH   SOLE   4,000 0 0
ASTRAZENECA PLC SPONS ADR Common Series ADR 046353108 118,710 3,000 SH   SOLE   3,000 0 0
AUTOZONE INC Common 053332102 77,570 100 SH   SOLE   100 0 0
NATUS MEDICAL INC Common 639050103 110,515 3,100 SH   SOLE   3,100 0 0
BANK OF AMERICA CORP. Common 060505104 530,280 18,000 SH   SOLE   18,000 0 0
FRANKLIN RES INC Common 354613101 3,132,230 103,000 SH   SOLE   103,000 0 0
B&G Foods Inc. Common 05508R106 1,487,790 54,200 SH   SOLE   54,200 0 0
BAUSCH HEALTH COS INC Common 071734107 2,315,434 90,200 SH   SOLE   90,200 0 0
BLOOMIN' BRANDS INC Common 094235108 787,642 39,800 SH   SOLE   39,800 0 0
BRISTOL MYERS SQUIBB CO W/RTS TO PUR P/STK UNDER CERT CIRCUMSTATANCE Common 110122108 3,259,200 52,500 SH   SOLE   52,500 0 0
BRIGHTSPHERE INVESTMENT GROUP Common G1644T109 768,800 62,000 SH   SOLE   62,000 0 0
Citigroup Inc Common 172967424 3,795,046 52,900 SH   SOLE   52,900 0 0
CITIZENS FINANCIAL GROUP Common 174610105 2,726,899 70,700 SH   SOLE   70,700 0 0
C&J ENERGY SERVICES INC Common 12674R100 915,200 44,000 SH   SOLE   44,000 0 0
CLIFFS NATURAL RESOURCES INC Common 185899101 1,481,220 117,000 SH   SOLE   117,000 0 0
CAPITAL ONE FINANCIAL CORP Common 14040H105 3,360,522 35,400 SH   SOLE   35,400 0 0
CAMPBELL SOUP CO Common 134429109 2,073,258 56,600 SH   SOLE   56,600 0 0
DISCOVER FIN'L SERVICES Common 254709108 1,376,100 18,000 SH   SOLE   18,000 0 0
DINE BRANDS GLOBAL INC Common 254423106 2,374,252 29,200 SH   SOLE   29,200 0 0
BRINKER INTL Common 109641100 542,068 11,600 SH   SOLE   11,600 0 0
ENGILITY HOLDINGS INC Common 29286C107 93,574 2,600 SH   SOLE   2,600 0 0
FMC TECHNOLOGIES INC Common G87110105 725,000 23,200 SH   SOLE   23,200 0 0
GANNETT ORD SHS Common 36473H104 40,040 4,000 SH   SOLE   4,000 0 0
Gulf Island Fabrication, Inc Common 402307102 295,515 29,700 SH   SOLE   29,700 0 0
GILEAD SCIENCE COM Common 375558103 1,528,758 19,800 SH   SOLE   19,800 0 0
GREENLIGHT CAPITAL RE LTD-A Common Series A G4095J109 643,560 51,900 SH   SOLE   51,900 0 0
GENESEE & WYO INC CL A Common Series A 371559105 3,093,660 34,000 SH   SOLE   34,000 0 0
HAMILTON BEACH BRAND-A Common Series A 40701T104 205,709 9,376 SH   SOLE   9,376 0 0
ICHOR HOLDINGS LTD Common G4740B105 714,700 35,000 SH   SOLE   35,000 0 0
INTEGER HOLDINGS CORP Common 45826H109 555,765 6,700 SH   SOLE   6,700 0 0
Invacare Corporation Common 461203101 596,971 41,029 SH   SOLE   41,029 0 0
ISHARES RUSSELL 2000 VALUE Common 464287630 1,170,400 8,800 SH   SOLE   8,800 0 0
Johnson & Johnson Common 478160104 1,091,543 7,900 SH   SOLE   7,900 0 0
KLX INC Common 482539103 508,518 8,100 SH   SOLE   8,100 0 0
KANSAS CITY SOUTHERN CMN Common 485170302 1,789,824 15,800 SH   SOLE   15,800 0 0
LANNETT CO INC Common 516012101 339,625 71,500 SH   SOLE   71,500 0 0
LEE ENTERPRISES Common 523768109 592,643 223,639 SH   SOLE   223,639 0 0
LSC COMMUNICATIONS INC Common 50218P107 132,720 12,000 SH   SOLE   12,000 0 0
LILLY ELI & CO Common 532457108 676,053 6,300 SH   SOLE   6,300 0 0
LEGG MASON INC CMN Common 524901105 2,398,464 76,800 SH   SOLE   76,800 0 0
LANTHEUS HOLDINGS INC Common 516544103 738,530 49,400 SH   SOLE   49,400 0 0
LIFEPOINT HOSPITALS INC CMN Common 53219L109 663,320 10,300 SH   SOLE   10,300 0 0
MACY'S INC Common 55616P104 590,410 17,000 SH   SOLE   17,000 0 0
MCDERMOTT Common 580037703 675,754 36,666 SH   SOLE   36,666 0 0
MALLINCKRODT PLC Common G5785G107 647,751 22,100 SH   SOLE   22,100 0 0
MICROSTRATEGY INC-CL A Common Series A 594972408 942,154 6,700 SH   SOLE   6,700 0 0
MATRIX SERVICE CO Common 576853105 976,140 39,600 SH   SOLE   39,600 0 0
MYLAN, INC Common N59465109 732,000 20,000 SH   SOLE   20,000 0 0
NORFOLK SOUTHERN CORP Common 655844108 4,151,500 23,000 SH   SOLE   23,000 0 0
NAVTEQ CORPORATION CMN Common G6700G107 1,276,520 47,000 SH   SOLE   47,000 0 0
Newell Rubbermaid Inc Common 651229106 1,441,300 71,000 SH   SOLE   71,000 0 0
ORTHOFIX MEDICAL INC Common 68752M108 867,150 15,000 SH   SOLE   15,000 0 0
ONESPAN INC Common 68287N100 826,770 43,400 SH   SOLE   43,400 0 0
PHIBRO ANIMAL HEALTH CORP-A Common Series A 71742Q106 892,320 20,800 SH   SOLE   20,800 0 0
PHOTRONICS INC CMN Common 719405102 743,675 75,500 SH   SOLE   75,500 0 0
PERRIGO PLC Common G97822103 1,288,560 18,200 SH   SOLE   18,200 0 0
QUORUM HEALTH CORP Common 74909E106 228,540 39,000 SH   SOLE   39,000 0 0
ROWAN COMPANIES INC CMN Common G7665A101 1,054,480 56,000 SH   SOLE   56,000 0 0
REALOGY HOLDINGS CORP Common 75605Y106 1,898,880 92,000 SH   SOLE   92,000 0 0
RED ROBIN GRMT BURG Common 75689M101 823,075 20,500 SH   SOLE   20,500 0 0
RIVIERA RESOURCES INC/LINN Common 76964R104 538,395 25,100 SH   SOLE   25,100 0 0
JM SMUCKER CO/THE Common 832696405 1,580,194 15,400 SH   SOLE   15,400 0 0
SYNCHRONOSS TECHNOLOGIES INC Common 87157B103 508,200 77,000 SH   SOLE   77,000 0 0
S&P GLOBAL INC Common 78409V104 2,266,524 11,600 SH   SOLE   11,600 0 0
SYMANTEC CORP Common 871503108 949,088 44,600 SH   SOLE   44,600 0 0
SYNAPTICS, INC. CMN Common 87157D109 232,662 5,100 SH   SOLE   5,100 0 0
TIDEWATER INC Common 88642R109 258,877 8,300 SH   SOLE   8,300 0 0
Teva Pharmaceutical Industries Common 881624209 3,209,460 149,000 SH   SOLE   149,000 0 0
TRIUMPH GROUP INC CMN Common 896818101 675,700 29,000 SH   SOLE   29,000 0 0
TENET HEALTHCARE CORP Common 88033G407 1,263,624 44,400 SH   SOLE   44,400 0 0
TIVO INC CMN Common 88870P106 734,550 59,000 SH   SOLE   59,000 0 0
THIRD POINT REINSURANCE LTD Common 89609W107 1,014,000 78,000 SH   SOLE   78,000 0 0
THOMSON CORPORATION CMN Common G8827U100 959,280 21,000 SH   SOLE   21,000 0 0
TRONC INC Common 884903105 816,500 50,000 SH   SOLE   50,000 0 0
TRAVELERS COS INC/THE Common 89417E109 2,153,186 16,600 SH   SOLE   16,600 0 0
ULTRA CLEAN HOLDINGS, INC Common 90385V107 666,405 53,100 SH   SOLE   53,100 0 0
COMPANHIA VALE DO RIO DOCE ADR Common Series ADR 91912E105 2,136,960 144,000 SH   SOLE   144,000 0 0
VECTRUS INC Common 92242T101 909,344 29,155 SH   SOLE   29,155 0 0
Veeco Instruments Inc Common 922417100 512,500 50,000 SH   SOLE   50,000 0 0
Viacom Inc Common 92553P201 1,654,240 49,000 SH   SOLE   49,000 0 0
VAREX IMAGING CORP Common 92214X106 733,696 25,600 SH   SOLE   25,600 0 0
VALVOLINE INC Common 92047W101 1,776,726 82,600 SH   SOLE   82,600 0 0
VANGUARD S&P 500 VALUE ETF Common Series ETF 921932703 770,799 6,900 SH   SOLE   6,900 0 0
VERIZON COMMUNICATIONS INC. CMN Common 92343V104 3,198,061 59,900 SH   SOLE   59,900 0 0
WADDELL & REED FINANCIAL-A Common Series A 930059100 1,059,000 50,000 SH   SOLE   50,000 0 0
WELLS FARGO Common 949746101 2,160,216 41,100 SH   SOLE   41,100 0 0
WHITE MOUNTAINS INSURANCE GRP Common G9618E107 1,054,725 1,127 SH   SOLE   1,127 0 0
WYNDHAM DESTINATIONS INC Common 98310W108 2,471,520 57,000 SH   SOLE   57,000 0 0