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
A T & T INC (NEW) COM 00206R102 404 11,532 SH   SOLE   11,532 0 0
ABIOMED INC COM COM 3654100 1,420 60,617 SH   DFND   38,081 16,702 0
ALLEGHANY CORP DEL COM COM 17175100 285 700 SH   SOLE   700 0 0
AMERICAN NATL INS CO COM COM 28591105 3,208 28,379 SH   DFND   20,698 7,681 0
ASTROTECH CORP COM 46484101 33 14,200 SH   SOLE   14,200 0 0
ATMOS ENERGY CORP COM COM 49560105 944 20,036 SH   DFND   15,771 4,265 0
BLACK HILLS CORP COM COM 92113109 2,244 38,918 SH   DFND   26,201 12,717 0
BOEING CO COM COM 97023105 394 3,140 SH   DFND   3,090 50 0
BRISTOL MYERS SQUIBB CO COM 110122108 266 5,123 SH   SOLE   5,123 0 0
CALAVO GROWERS INC COM COM 128246105 995 27,967 SH   DFND   20,341 7,626 0
CAMDEN PPTY TR SH BEN INT COM 133131102 1,774 26,348 SH   DFND   19,312 7,036 0
CASEYS GEN STORES INC COM COM 147528103 1,522 22,524 SH   DFND   16,114 6,410 0
CELGENE CORP RT COM 151020112 2 840 SH   SOLE   840 0 0
CHEVRONTEXACO CORP COM COM 166764100 434 3,652 SH   SOLE   3,652 0 0
COUER MINING INC COM 192108504 5 500 SH   SOLE   500 0 0
COMSTOCK RES INC COM NEW COM 205768203 1,247 54,590 SH   DFND   39,359 15,231 0
CONTANGO OIL & GAS COMPANY COM COM 21075N204 2,809 58,843 SH   DFND   40,018 18,825 0
CORE MARK HOLDING CO INC COM COM 218681104 444 6,117 SH   DFND   3,480 2,637 0
CREDIT SUISSE GOLD SHARES ETN COM 22542D480 8 540 SH   SOLE   540 0 0
CUBIC CORP COM COM 229669106 1,474 28,865 SH   DFND   21,188 7,677 0
DEERE & CO COM COM 244199105 363 4,000 SH   DFND   2,000 2,000 0
DIAMOND OFFSHORE DRILLING INC COM 25271C102 5 100 SH   SOLE   5 0 0
DOUBLELINE OPPORTUNISTIC CR FUND COM 258623107 5 100 SH   SOLE   5 0 0
DOW CHEMICAL CORP COM 260543103 333 6,850 SH   SOLE   6,850 0 0
ENSCO PLC SHS CLASS A COM G3157S106 1,823 34,531 SH   DFND   24,626 9,905 0
ETFS SILVER TRUST COM 26922X107 6 316 SH   SOLE   316 0 0
EXCO RESOURCES INC COM 269279402 6 1,000 SH   SOLE   1,000 0 0
EXXON MOBIL CORP COM COM 30231G102 686 7,022 SH   SOLE   7,022 0 0
FIRST CASH FINL SVCS INC COM COM 31942D107 1,472 29,167 SH   DFND   22,618 6,549 0
FOREST OIL CORP COM 346091705 10 5,025 SH   SOLE   5,025 0 0
FRANCO NEVADA CORP COM 351858105 5 100 SH   SOLE   100 0 0
GENERAL ELEC CO COM 369604103 307 11,870 SH   SOLE   11,870 0 0
GENOMIC HEALTH INC COM COM 37244C101 711 26,972 SH   DFND   12,514 14,458 0
HD SUPPLY HLDGS INC COM COM 40416M105 439 16,768 SH   DFND   11,180 5,588 0
ILLUMINA INC COM COM 452327109 2,389 16,067 SH   DFND   11,827 4,060 0
INTERNATIONAL GAME TECHNOLOGCO COM 459902102 922 65,571 SH   DFND   51,011 14,560 0
INTREPID POTASH INC COM COM 46121Y102 2,373 153,480 SH   DFND   106,130 47,350 0
ISHARES GOLD TRUST COM 464285105 11 896 SH   SOLE   896 0 0
ISHARES TR RUSSELL MCP VL COM 464287473 456 6,635 SH   SOLE   6,635 0 0
JACOBS ENGR GROUP INC DEL COM COM 469814107 1,207 19,014 SH   DFND   13,985 5,029 0
JOHNSON & JOHNSON COM 478160104 927 9,440 SH   DFND   5,040 4,400 0
JOY GLOBAL INC COM COM 481165108 1,322 22,790 SH   DFND   15,938 6,852 0
KKR & CO L P DEL COM UNITS COM 48248M102 399 17,465 SH   DFND   14,545 2,920 0
KKR FINANCIAL HOLDINGS LLC COM 48248A306 1 10 SH   SOLE   10 0 0
LIMONEIRA CO COM COM 532746104 862 38,049 SH   DFND   24,291 13,758 0
LSI INDS INC COM COM 50216C108 106 13,000 SH   SOLE   13,000 0 0
MILLER ENERGY RESOURCES PREFERRED STOCKS 600527204 249 9,900 SH   DFND   3,400 6,500 0
MASTEC INC COM COM 576323109 2,689 61,890 SH   DFND   41,888 20,002 0
MCDERMOTT INTERNATIONAL COM 580037109 28 3,600 SH   SOLE   3,600 0 0
MEAD JOHNSON NUTRITION CO COM COM 582839106 296 3,560 SH   SOLE   3,560 0 0
MICROSEMI CORP COM COM 595137100 1,782 71,234 SH   DFND   51,484 19,750 0
MILLER ENERGY RES INC COM COM 600527105 578 97,309 SH   DFND   63,840 33,469 0
MILLS MUSIC TRUST COM 601158108 1 60 SH   SOLE   60 0 0
MISTRAS GROUP INC COM COM 60649T107 926 40,637 SH   DFND   23,705 16,932 0
NEWMONT MINING CORP COM 651639106 21 900 SH   SOLE   900 0 0
NORFOLK SOUTHN CORP COM 655844108 606 6,240 SH   SOLE   6,240 0 0
NUANCE COMMUNICATIONS INC COM COM 67020Y100 2,241 130,526 SH   DFND   95,937 34,949 0
OCCIDENTAL PETE CORP COM COM 674599105 521 5,465 SH   DFND   2,640 2,825 0
PENN VIRGINIA CORP COM 707882106 9 500 SH   SOLE   500 0 0
PFIZER INC COM 717081103 380 11,820 SH   SOLE   11,820 0 0
PREMIER EXHIBITIONS INC COM 740S1E102 8 8,900 SH   SOLE   8,900 0 0
PRICESMART INC COM COM 741511109 1,915 18,981 SH   DFND   13,610 5,371 0
PRIVATEBANCORP INC COM COM 742962103 2,287 74,963 SH   DFND   58,658 16,305 0
QUALCOMM INC COM COM 747525103 1,211 15,352 SH   DFND   9,177 6,175 0
RACKSPACE HOSTING INC COM COM 750086100 421 12,840 SH   DFND   8,397 4,443 0
ROSS STORES INC COM COM 778296103 1,055 14,740 SH   DFND   10,228 4,512 0
SENOMYX INC COM COM 81724Q107 1,383 129,601 SH   DFND   74,366 55,235 0
SJW CORP COM COM 784305104 229 7,740 SH   SOLE   7,740 0 0
SPDR GOLD TRUST COM 78463V107 12 100 SH   SOLE   100 0 0
TJX COS INC NEW COM COM 872540109 335 5,522 SH   DFND   2,322 3,200 0
TRIQUINT SEMICONDUCTOR INC COM 89674K103 13 1,000 SH   SOLE   1,000 0 0
TRONOX LTD SHS CL A COM Q9235V101 2,570 108,114 SH   DFND   84,005 24,109 0
UNILEVER NV N Y SHS NEW COM 904784709 230 5,600 SH   SOLE   5,600 0 0
UNION PAC CORP COM 907818108 1,084 5,775 SH   DFND   5,435 340 0
VANGUARD MUN BD FD INC INTER T MUTUAL FUNDS 922021407 232 20,150 SH   DFND   0 20,150 0
WESTERN DIGITAL CORP COM COM 958102105 3,556 40,735 SH   DFND   27,061 11,674 0
ZIONS BANCORPORATION COM COM 989701107 2,454 79,202 SH   DFND   56,584 22,618 0