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
ABBOTT LABORATORIES COM 002824100 920 27,725 SH   DFND 1,2,3 0 27,725 0
ACTUANT CORP-CL A CL A 00508X203 1,504 38,725 SH   DFND 1,2,3 0 38,725 0
AEROPOSTALE INC COM 007865108 881 93,750 SH   DFND 1,2,3 0 93,750 0
ALLEGHENY TECHNOLOGIES INC COM 01741R102 1,391 45,572 SH   DFND 1,2,3 0 45,572 0
ALLERGAN INC COM 018490102 965 10,665 SH   DFND 1,2,3 0 10,665 0
AMERICAN ELECT PWR INC COM 025537101 267 6,154 SH   DFND 1,2,3 0 6,154 0
AMERICAN EQUITY INVT LIFE HL COM 025676206 1,590 74,950 SH   DFND 1,2,3 0 74,950 0
AMERICAN INTERNATIONAL GROUP COM NEW 026874784 3,146 64,700 SH   DFND 1,2,3 0 64,700 0
AMERICAN REPROGRAPHICS CO COM 00191G103 598 130,375 SH   DFND 1,2,3 0 130,375 0
ANADARKO PETROLEUM CORP COM 032511107 13,914 149,626 SH   DFND 1,2,3 0 149,626 0
ANIXTER INTERNATIONAL INC COM 035290105 1,468 16,750 SH   DFND 1,2,3 0 16,750 0
AON CORP SHS CL A G0408V102 744 10,000 SH   DFND 1,2,3 0 10,000 0
APACHE CORP COM 037411105 5,534 65,000 SH   DFND 1,2,3 0 65,000 0
APPLE COMPUTER INC COM 037833100 1,180 2,475 SH   DFND 1,2,3 0 2,475 0
ARGAN INC COM 04010E109 337 15,351 SH   DFND 1,2,3 0 15,351 0
ARGO GROUP INTERNATIONAL COM G0464B107 1,805 42,075 SH   DFND 1,2,3 0 42,075 0
ARRIS CORP COM 04270V106 508 29,800 SH   DFND 1,2,3 0 29,800 0
ASPEN INSURANCE HOLDINGS LTD SHS G05384105 1,662 45,800 SH   DFND 1,2,3 0 45,800 0
ASSURANT INC COM 04621X108 8,321 153,800 SH   DFND 1,2,3 0 153,800 0
AVNET INC COM 053807103 4,104 98,400 SH   DFND 1,2,3 0 98,400 0
BABCOCK & WILCOX CO/THE COM 05615F102 948 28,121 SH   DFND 1,2,3 0 28,121 0
BAKER HUGHES INC COM 057224107 2,828 57,600 SH   DFND 1,2,3 0 57,600 0
BANCORPSOUTH INC COM 059692103 1,613 80,905 SH   DFND 1,2,3 0 80,905 0
BANK OF AMERICA CORP COM 060505104 2,015 146,050 SH   DFND 1,2,3 0 146,050 0
BANK OF NEW YORK COM 064058100 2,023 67,012 SH   DFND 1,2,3 0 67,012 0
BARNES & NOBLE INC COM 067774109 971 75,041 SH   DFND 1,2,3 0 75,041 0
BARRICK GOLD CORP COM 067901108 2,853 153,241 SH   DFND 1,2,3 0 153,241 0
BBCN BANCORP INC COM 073295107 1,403 102,050 SH   DFND 1,2,3 0 102,050 0
BECTON DICKINSON & CO COM 075887109 1,763 17,625 SH   DFND 1,2,3 0 17,625 0
BLUEKNIGHT ENERGY PARTNERS LP COM UNIT 09625U109 2,591 315,610 SH   DFND 1,2,3 0 315,610 0
BOEING COMPANY COM 097023105 7,344 62,500 SH   DFND 1,2,3 0 62,500 0
BP PLC-SPONS ADR SPONSORED ADR 055622104 3,626 86,282 SH   DFND 1,2,3 0 86,282 0
BRADY CORPORATION - CL A CL A 104674106 1,536 50,350 SH   DFND 1,2,3 0 50,350 0
CABOT OIL & GAS CORP -CL A COM 127097103 2,351 63,000 SH   DFND 1,2,3 0 63,000 0
CAL DIVE INTERNATIONAL INC COM 12802T101 619 301,800 SH   DFND 1,2,3 0 301,800 0
CALLAWAY GOLF COMPANY COM 131193104 288 40,500 SH   DFND 1,2,3 0 40,500 0
CAPITAL LEASE FUNDING INC COM 140288101 1,308 154,081 SH   DFND 1,2,3 0 154,081 0
CAPITAL PRODUCT PARTNERS LP COM UNIT Y11082107 1,390 154,394 SH   DFND 1,2,3 0 154,394 0
CARPENTER TECHNOLOGY COM 144285103 901 15,500 SH   DFND 1,2,3 0 15,500 0
CASH AMERICA INTL INC COM 14754D100 290 6,400 SH   DFND 1,2,3 0 6,400 0
CASTLE (A.M.) & CO COM 148411101 715 44,400 SH   DFND 1,2,3 0 44,400 0
CHEMED CORP COM 16359R103 1,208 16,900 SH   DFND 1,2,3 0 16,900 0
CISCO SYSTEMS INC COM 17275R102 1,640 70,000 SH   DFND 1,2,3 0 70,000 0
CITIGROUP INC COM 172967424 5,690 117,291 SH   DFND 1,2,3 0 117,291 0
COCA COLA CO COM 191216100 629 16,600 SH   DFND 1,2,3 0 16,600 0
COLUMBUS MCKINNON CORP/NY COM 199333105 348 14,485 SH   DFND 1,2,3 0 14,485 0
COMCAST CORP CL A SPL CL A 20030N200 8,670 200,000 SH   DFND 1,2,3 0 200,000 0
CONSECO INC COM 12621E103 2,052 142,500 SH   DFND 1,2,3 0 142,500 0
CON-WAY INC COM 205944101 1,796 41,675 SH   DFND 1,2,3 0 41,675 0
CRAY INC COM NEW 225223304 2,428 100,908 SH   DFND 1,2,3 0 100,908 0
CVR PARTNERS LP COM 126633106 4,248 240,000 SH   DFND 1,2,3 0 240,000 0
DANA HOLDING CORP COM 235825205 1,378 60,324 SH   DFND 1,2,3 0 60,324 0
DEERE & CO COM 244199105 4,883 60,000 SH   DFND 1,2,3 0 60,000 0
DELL COMPUTER CORP COM 24702R101 1,036 75,325 SH   DFND 1,2,3 0 75,325 0
DELPHI AUTOMOTIVE PLC SHS G27823106 2,033 34,800 SH   DFND 1,2,3 0 34,800 0
DELTA AIR LINES INC COM NEW 247361702 6,477 274,555 SH   DFND 1,2,3 0 274,555 0
DENBURY RESOURCES INC COM 247916208 2,854 155,000 SH   DFND 1,2,3 0 155,000 0
DEVON ENERGY CORP COM 25179M103 5,316 92,035 SH   DFND 1,2,3 0 92,035 0
DIAMONDROCK HOSPITALITY CO COM 252784301 1,129 105,771 SH   DFND 1,2,3 0 105,771 0
DIODES INC COM 254543101 1,506 61,450 SH   DFND 1,2,3 0 61,450 0
EATON CORP PLC SHS G29183103 3,823 55,540 SH   DFND 1,2,3 0 55,540 0
EMC CORPORATION COM 268648102 1,534 60,000 SH   DFND 1,2,3 0 60,000 0
ENBRIDGE ENERGY PARTNERS LP COM 29250R106 6,699 220,000 SH   DFND 1,2,3 0 220,000 0
ENDO HEALTH SOLUTIONS INC COM 29264F205 736 16,200 SH   DFND 1,2,3 0 16,200 0
ENERGY TRANSFER EQUITY LP COM UNIT 29273V100 2,138 32,500 SH   DFND 1,2,3 0 32,500 0
ENGILITY HOLDINGS INC - W/I COM 29285W104 1,291 40,680 SH   DFND 1,2,3 0 40,680 0
ENSCO INTERNATIONAL INC SHS CL A G3157S106 3,225 60,000 SH   DFND 1,2,3 0 60,000 0
EXXON MOBIL CORP COM 30231G102 1,536 17,850 SH   DFND 1,2,3 0 17,850 0
EZCORP INC-CL A CL A 302301106 808 47,900 SH   DFND 1,2,3 0 47,900 0
FEDEX CORPORATION COM 31428X106 9,528 83,500 SH   DFND 1,2,3 0 83,500 0
FIRST CITIZENS BCSHS -CL A CL A 31946M103 605 2,945 SH   DFND 1,2,3 0 2,945 0
FIRST MIDWEST BANCORP INC/IL COM 320867104 625 41,425 SH   DFND 1,2,3 0 41,425 0
GENERAL MOTORS-CW16 WARRANT 37045V118 1,442 54,576 SH   DFND 1,2,3 0 1,441,898 0
GENTIVA HEALTH SERVICES COM 37247A102 463 38,491 SH   DFND 1,2,3 0 38,491 0
GLOBAL CASH ACCESS INC COM 378967103 1,109 142,016 SH   DFND 1,2,3 0 142,016 0
GOLDMAN SACHS GROUP INC COM 38141G104 2,385 15,075 SH   DFND 1,2,3 0 15,075 0
GOOGLE INC-CL A CL A 38259P508 2,912 3,325 SH   DFND 1,2,3 0 3,325 0
GOVERNMENT PROPERTIES INCOME COM SHS BEN INT 38376A103 586 24,500 SH   DFND 1,2,3 0 24,500 0
GRANITE REAL ESTATE INVESTMENT TRST UNIT 387437114 1,116 31,300 SH   DFND 1,2,3 0 31,300 0
GREAT PLAINS ENERGY INC COM 391164100 460 20,700 SH   DFND 1,2,3 0 20,700 0
GRIFFON CORPORATION COM 398433102 1,128 89,919 SH   DFND 1,2,3 0 89,919 0
HARSCO CORP COM 415864107 1,703 68,400 SH   DFND 1,2,3 0 68,400 0
HARTE-HANKS INC COM 416196103 1,304 147,625 SH   DFND 1,2,3 0 147,625 0
HEALTH MGMT ASSOCIATES INC-A CL A 421933102 1,887 147,390 SH   DFND 1,2,3 0 147,390 0
HERMAN MILLER INC COM 600544100 790 27,075 SH   DFND 1,2,3 0 27,075 0
HESS CORP COM 42809H107 916 11,850 SH   DFND 1,2,3 0 11,850 0
HEWLETT-PACKARD CO. COM 428236103 5,153 245,505 SH   DFND 1,2,3 0 245,505 0
HOSPITALITY PROPERTIES TRUST COM SHS 44106M102 2,198 77,675 SH   DFND 1,2,3 0 77,675 0
HUNTINGTON INGALLS INDUSTRIES COM 446413106 315 4,675 SH   DFND 1,2,3 0 4,675 0
ICONIX BRAND GROUP INC COM 451055107 874 26,300 SH   DFND 1,2,3 0 26,300 0
ING US INC COM 45685E106 1,948 66,675 SH   DFND 1,2,3 0 66,675 0
INGERSOLL RAND CO SHS G47791101 1,130 17,405 SH   DFND 1,2,3 0 17,405 0
INGRAM MICRO INC-CL A CL A 457153104 1,782 77,300 SH   DFND 1,2,3 0 77,300 0
Inorg Chem Nec COM 45768S105 10,869 58,695 SH   DFND 1,2,3 0 58,695 0
INSIGHT ENTERPRISES INC COM 45765U103 1,115 58,968 SH   DFND 1,2,3 0 58,968 0
INTERNATIONAL BUSINESS MACHINE COM 459200101 961 20,598 SH   DFND 1,2,3 0 20,598 0
INTERVAL LEISURE GROUP COM 46113M108 202 8,568 SH   DFND 1,2,3 0 8,568 0
INVESCO LTD SHS G491BT108 2,531 79,350 SH   DFND 1,2,3 0 79,350 0
JOHNSON & JOHNSON COM 478160104 4,920 56,750 SH   DFND 1,2,3 0 56,750 0
JONES APPAREL GROUP INC COM 48020T101 1,326 88,334 SH   DFND 1,2,3 0 88,334 0
JPMORGAN CHASE & COMPANY COM 46625H100 8,848 171,175 SH   DFND 1,2,3 0 171,175 0
KAISER ALUMINUM CORP COM 483007704 691 9,700 SH   DFND 1,2,3 0 9,700 0
KAPSTONE PAPER AND PACKAGING COM 48562P103 287 6,700 SH   DFND 1,2,3 0 6,700 0
L-3 COMMUNICATIONS CORP COM 502424104 2,306 24,400 SH   DFND 1,2,3 0 24,400 0
LABORATORY CRP OF AMER HLDGS COM NEW 50540R409 1,809 18,250 SH   DFND 1,2,3 0 18,250 0
LEGG MASON INC COM 524901105 2,870 85,825 SH   DFND 1,2,3 0 85,825 0
LENNAR CORP - B SHS CL B 526057302 584 20,380 SH   DFND 1,2,3 0 20,380 0
LEXMARK INTL GROUP INC-CL A CL A 529771107 531 16,100 SH   DFND 1,2,3 0 16,100 0
LINCOLN NATIONAL CORP INDIANA COM 534187109 8,524 203,000 SH   DFND 1,2,3 0 203,000 0
MARKWEST ENERGY PARTNERS LP UNIT LP 570759100 3,612 50,000 SH   DFND 1,2,3 0 50,000 0
MASONITE INTERNATIONAL CORP COM 575385109 1,727 35,300 SH   DFND 1,2,3 0 35,300 0
MATTHEWS INTL CORP-CLASS A CL A 577128101 1,043 27,400 SH   DFND 1,2,3 0 27,400 0
MEDTRONIC INC COM 585055106 1,101 20,680 SH   DFND 1,2,3 0 20,680 0
MERCK & CO. INC. COM 58933Y105 3,259 68,459 SH   DFND 1,2,3 0 68,459 0
METLIFE INC COM 59156R108 6,051 128,875 SH   DFND 1,2,3 0 128,875 0
MICROSOFT CORP COM 594918104 18,278 549,220 SH   DFND 1,2,3 0 549,220 0
MILLER INDUSTRIES INC/TENN COM 600551204 276 16,262 SH   DFND 1,2,3 0 16,262 0
MONSTER WORLDWIDE INC COM 611742107 710 160,675 SH   DFND 1,2,3 0 160,675 0
MORGAN ST DEAN WITTER DISCOV COM 617446448 1,955 72,550 SH   DFND 1,2,3 0 72,550 0
MUELLER WATER PRODUCTS INC-A COM 624758108 1,160 145,225 SH   DFND 1,2,3 0 145,225 0
NATL PENN BCSHS INC COM 637138108 1,271 126,475 SH   DFND 1,2,3 0 126,475 0
NELNET INC-CL A CL A 64031N108 331 8,600 SH   DFND 1,2,3 0 8,600 0
NEWMONT MINING CORP COM 651639106 915 32,565 SH   DFND 1,2,3 0 32,565 0
NEWS CORP - CLASS A CL A 65249B109 2,289 142,510 SH   DFND 1,2,3 0 142,510 0
NEWS CORP - CLASS B CL B 65249B208 1,902 115,750 SH   DFND 1,2,3 0 115,750 0
NOVAGOLD RESOURCES INC COM NEW 66987E206 101 43,627 SH   DFND 1,2,3 0 43,627 0
NRG ENERGY INC COM NEW 629377508 941 34,446 SH   DFND 1,2,3 0 34,446 0
NV ENERGY INC COM 67073Y106 640 27,100 SH   DFND 1,2,3 0 27,100 0
OCCIDENTAL PETROLEUM COM 674599105 10,948 117,045 SH   DFND 1,2,3 0 117,045 0
OCEAN RIG UDW INC SHS Y64354205 680 37,344 SH   DFND 1,2,3 0 37,344 0
OMNICOM GROUP COM 681919106 2,076 32,725 SH   DFND 1,2,3 0 32,725 0
ORACLE CORP COM 68389X105 17,537 528,695 SH   DFND 1,2,3 0 528,695 0
OWENS CORNING COM 690742101 2,414 63,550 SH   DFND 1,2,3 0 63,550 0
P G & E CORPORATION COM 69331C108 1,876 45,834 SH   DFND 1,2,3 0 45,834 0
PACIFIC ETHANOL INC COM 69423U305 140 40,000 SH   DFND 1,2,3 0 40,000 0
PARK STERLING CORP COM 70086Y105 589 91,866 SH   DFND 1,2,3 0 91,866 0
PARKER HANNIFIN CORP COM 701094104 2,079 19,125 SH   DFND 1,2,3 0 19,125 0
PARTNERRE LTD COM G6852T105 2,137 23,350 SH   DFND 1,2,3 0 23,350 0
PBF ENERGY INC CL A 69318G106 2,090 93,100 SH   DFND 1,2,3 0 93,100 0
PETROLOGISTICS LP UNIT LTD PTH INT 71672U101 3,253 272,000 SH   DFND 1,2,3 0 272,000 0
PFIZER INC COM 717081103 12,555 437,071 SH   DFND 1,2,3 0 437,071 0
PHH CORP COM 693320202 1,142 48,100 SH   DFND 1,2,3 0 48,100 0
PHOTOMEDEX INC COM 719358301 1,666 104,770 SH   DFND 1,2,3 0 104,770 0
PIONEER NATURAL RESOURCES CO COM 723787107 7,552 40,000 SH   DFND 1,2,3 0 40,000 0
PIPER JAFFRAY COS COM 724078100 652 19,000 SH   DFND 1,2,3 0 19,000 0
PNC FINANCIAL CORP COM 693475105 2,365 32,644 SH   DFND 1,2,3 0 32,644 0
PORTLAND GENERAL ELECTRIC COM 736508847 288 10,200 SH   DFND 1,2,3 0 10,200 0
PRIMERICA INC COM 74164M108 1,236 30,631 SH   DFND 1,2,3 0 30,631 0
PROTECTIVE LIFE CORP COM 743674103 845 19,860 SH   DFND 1,2,3 0 19,860 0
PULTE CORP COM 745867101 4,043 245,000 SH   DFND 1,2,3 0 245,000 0
QEP MIDSTREAM PARTNERS LP COM UNIT RP LTD 74735R115 1,811 80,000 SH   DFND 1,2,3 0 80,000 0
REINSURANCE GROUP OF AMERICA COM NEW 759351604 1,608 24,000 SH   DFND 1,2,3 0 24,000 0
RENT-A-CENTER INC COM 76009N100 2,601 68,250 SH   DFND 1,2,3 0 68,250 0
RENTECH NITROGEN PARTNERS LP COM 760113100 6,215 253,448 SH   DFND 1,2,3 0 253,448 0
ROWAN COS INC SHS CL A G7665A101 2,754 75,000 SH   DFND 1,2,3 0 75,000 0
ROYAL DUTCH SHELL PLC-ADR SPONSORED ADR 780259206 2,816 42,881 SH   DFND 1,2,3 0 42,881 0
SCHNITZER STEEL INDS INC-A CL A 806882106 541 19,675 SH   DFND 1,2,3 0 19,675 0
SKECHERS USA INC-CL A CL A 830566105 201 6,467 SH   DFND 1,2,3 0 6,467 0
SPDR GOLD TRUST SHS 78463V107 32,045 250,000 SH   DFND 1,2,3 0 250,000 0
STAPLES INC COM 855030102 3,613 246,598 SH   DFND 1,2,3 0 246,598 0
STATE STREET CORP COM 857477103 1,931 29,375 SH   DFND 1,2,3 0 29,375 0
SUPERIOR ENERGY SERVICES INC COM 868157108 3,117 124,500 SH   DFND 1,2,3 0 124,500 0
SYNOVUS FINANCIAL CORP COM 87161C105 742 224,900 SH   DFND 1,2,3 0 224,900 0
TALLGRASS ENERGY PARTNERS LP COM UNIT 874697105 1,165 50,000 SH   DFND 1,2,3 0 50,000 0
TCF FINANCIAL CORP COM 872275102 1,538 107,675 SH   DFND 1,2,3 0 107,675 0
TE CONNECTIVITY LTD. REG SHS H84989104 1,972 38,075 SH   DFND 1,2,3 0 38,075 0
TENET HEALTHCARE CORP COM NEW 88033G407 359 8,725 SH   DFND 1,2,3 0 8,725 0
TETRA TECH INC COM 88162G103 587 22,675 SH   DFND 1,2,3 0 22,675 0
TEVA PHARMACEUTICAL-SP ADR COM 881624209 1,680 44,455 SH   DFND 1,2,3 0 44,455 0
THERMO FISHER SCIENTIFIC COM 883556102 503 5,458 SH   DFND 1,2,3 0 5,458 0
TITAN MACHINERY INC COM 88830R101 11,105 131,000 SH   DFND 1,2,3 0 131,000 0
TRAVELERS COS INC/THE COM 89417E109 272 16,900 SH   DFND 1,2,3 0 16,900 0
TRW AUTOMOTIVE HOLDINGS CORP COM 87264S106 1,913 26,825 SH   DFND 1,2,3 0 26,825 0
TUPPERWARE CORP COM 899896104 760 8,800 SH   DFND 1,2,3 0 8,800 0
TUTOR PERINI CORP COM 901109108 1,412 66,250 SH   DFND 1,2,3 0 66,250 0
UAL CORP COM 910047109 1,536 50,000 SH   DFND 1,2,3 0 50,000 0
UFP TECHNOLOGIES INC COM 902673102 438 19,243 SH   DFND 1,2,3 0 19,243 0
UNITED STATIONERS INC COM 913004107 1,015 23,375 SH   DFND 1,2,3 0 23,375 0
URANIUM ENERGY CORP COM 916896103 742 329,700 SH   DFND 1,2,3 0 329,700 0
URS CORP COM 903236107 2,650 49,300 SH   DFND 1,2,3 0 49,300 0
VALASSIS COMMUNICATIONS INC COM 918866104 2,253 78,000 SH   DFND 1,2,3 0 78,000 0
VCA ANTECH INC COM 918194101 1,386 50,475 SH   DFND 1,2,3 0 50,475 0
VIRTUS INVESTMENT PARTNERS COM 92828Q109 1,886 11,595 SH   DFND 1,2,3 0 11,595 0
WALTER INDUSTRIES INC COM 93317Q105 2,029 144,600 SH   DFND 1,2,3 0 144,600 0
WEBSTER FINANCIAL CORP COM 947890109 1,108 43,400 SH   DFND 1,2,3 0 43,400 0
WELLCARE GROUP INC COM 94946T106 1,981 28,410 SH   DFND 1,2,3 0 28,410 0
WET SEAL INC/THE CLASS A CL A 961840105 277 70,400 SH   DFND 1,2,3 0 70,400 0
WILEY (JOHN) & SONS-CLASS A CL A 968223206 515 10,800 SH   DFND 1,2,3 0 10,800 0
WPX ENERGY INC-W/I COM 98212B103 5,724 297,175 SH   DFND 1,2,3 0 297,175 0
WSFS FINANCIAL CORP COM 929328102 566 9,400 SH   DFND 1,2,3 0 9,400 0
XEROX CORP COM 984121103 3,272 317,960 SH   DFND 1,2,3 0 317,960 0
XL GROUP PLC SHS G98290102 468 15,200 SH   DFND 1,2,3 0 15,200 0
ZOETIS INC CL A 98978V103 690 22,185 SH   DFND 1,2,3 0 22,185 0