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 408 11,532 SH   SOLE   11,532 0 0
ABIOMED INC COM COM 3654100 1,369 54,437 SH   DFND   37,735 16,702 0
ACCESS PHARMACEUTICALS INC COM 00431M308 1 5,000 SH   SOLE   5,000 0 0
ALLEGHANY CORP DEL COM COM 17175100 307 700 SH   SOLE   700 0 0
AMERICAN NATL INS CO COM COM 28591105 3,226 28,248 SH   DFND   20,567 7,681 0
ASTROTECH CORP COM 46484101 45 14,200 SH   SOLE   14,200 0 0
ATMOS ENERGY CORP COM COM 49560105 1,069 20,024 SH   DFND   15,579 4,265 0
BLACK HILLS CORP COM COM 92113109 2,423 39,471 SH   DFND   26,754 12,717 0
BOEING CO COM COM 97023105 400 3,140 SH   DFND   3,090 50 0
BRISTOL MYERS SQUIBB CO COM 110122108 249 5,123 SH   SOLE   5,123 0 0
CALAVO GROWERS INC COM COM 128246105 945 27,914 SH   DFND   20,288 7,626 0
CAMDEN PPTY TR SH BEN INT COM 133131102 1,854 26,241 SH   DFND   19,205 7,036 0
CASEYS GEN STORES INC COM COM 147528103 1,582 22,508 SH   DFND   16,098 6,410 0
CELGENE CORP RT COM 151020112 2 840 SH   SOLE   840 0 0
CHEVRONTEXACO CORP COM COM 166764100 477 3,652 SH   SOLE   3,652 0 0
COMSTOCK RES INC COM NEW COM 205768203 1,571 54,475 SH   DFND   39,044 15,431 0
CONTANGO OIL & GAS COMPANY COM COM 21075N204 2,535 59,905 SH   DFND   40,015 19,890 0
CORE MARK HOLDING CO INC COM COM 218681104 558 12,234 SH   DFND   6,960 5,274 0
COUER MINING ING COM 192108504 9 1,000 SH   SOLE   9 0 0
CREDIT SUISSE NASSAU BRH GOLD PREFERRED STOCKS 22542D480 172 12,340 SH   DFND   4,340 8,000 0
CUBIC CORP COM COM 229669106 1,296 29,103 SH   DFND   21,156 7,947 0
DEERE & CO COM COM 244199105 362 4,000 SH   DFND   2,000 2,000 0
DIAMOND OFFSHORE DRILLING INC COM 25271C102 5 100 SH   SOLE   100 0 0
DOUBLELINE OPPORTUNISTIC CR FUND COM 258623107 1 20 SH   SOLE   20 0 0
DOW CHEMICAL CORP COM 260543103 354 6,864 SH   SOLE   6,864 0 0
ENSCO PLC SHS CLASS A COM G3157S106 2,061 37,092 SH   DFND   26,187 10,905 0
ETFS SILVER TRUST COM 26922X107 8 376 SH   SOLE   376 0 0
EXCO RESOURCES INC COM 269279402 6 1,000 SH   SOLE   1,000 0 0
EXXON MOBIL CORP COM COM 30231G102 707 7,022 SH   SOLE   7,022 0 0
FOREST OIL CORP COM 346091705 11 5,025 SH   SOLE   5,025 0 0
FRANCO NEVADA CORP COM 351858105 6 100 SH   SOLE   6 0 0
GENERAL ELEC CO COM 369604103 312 11,870 SH   SOLE   11,870 0 0
GENOMIC HEALTH INC COM COM 37244C101 753 27,495 SH   DFND   12,437 15,058 0
HD SUPPLY HLDGS INC COM COM 40416M105 476 16,758 SH   DFND   11,170 5,588 0
ILLUMINA INC COM COM 452327109 1,840 10,305 SH   DFND   7,467 2,838 0
INTERNATIONAL GAME TECHNOLOGCO COM 459902102 1,041 65,449 SH   DFND   50,889 14,560 0
INTREPID POTASH INC COM COM 46121Y102 2,601 155,176 SH   DFND   107,326 47,850 0
ISHARES GOLD TRUST COM 464285105 12 896 SH   SOLE   896 0 0
JACOBS ENGR GROUP INC DEL COM COM 469814107 1,060 24,383 SH   DFND   19,234 5,149 0
JOHNSON & JOHNSON COM 478160104 987 9,440 SH   DFND   5,040 4,400 0
KKR & CO L P DEL COM UNITS COM 48248M102 425 17,470 SH   DFND   14,550 2,920 0
LIMONEIRA CO COM COM 532746104 836 38,020 SH   DFND   24,262 13,758 0
LSI INDS INC COM COM 50216C108 104 13,000 SH   SOLE   13,000 0 0
MILLER ENERGY RESOURCES PREFERRED STOCKS 600527204 267 9,900 SH   DFND   3,400 6,500 0
MASTEC INC COM COM 576323109 1,957 63,498 SH   DFND   42,346 21,152 0
MCDERMOTT INTERNATIONAL COM 580037109 29 3,600 SH   SOLE   3,600 0 0
MEAD JOHNSON NUTRITION CO COM COM 582839106 332 3,560 SH   SOLE   3,560 0 0
MICROSEMI CORP COM COM 595137100 1,904 71,134 SH   DFND   51,384 19,750 0
MILLER ENERGY RES INC COM COM 600527105 632 97,804 SH   DFND   63,716 34,088 0
MILLS MUSIC TRUST COM 601158108 1 60 SH   SOLE   60 0 0
MISTRAS GROUP INC COM COM 60649T107 995 40,572 SH   DFND   23,640 16,932 0
MTS SYS CORP COM COM 553777103 240 3,545 SH   DFND   1,750 1,795 0
NEWMONT MINING CORP COM 651639106 23 900 SH   SOLE   900 0 0
NORFOLK SOUTHN CORP COM 655844108 643 6,240 SH   SOLE   6,240 0 0
NUANCE COMMUNICATIONS INC COM COM 67020Y100 2,090 112,972 SH   DFND   81,653 31,319 0
OCCIDENTAL PETE CORP COM COM 674599105 452 4,405 SH   DFND   1,720 2,685 0
OMNICOM GROUP COM COM 681919106 522 7,328 SH   DFND   2,998 4,330 0
PFIZER INC COM 717081103 351 11,820 SH   SOLE   11,820 0 0
PREMIER EXHIBITIONS INC COM 740S1E102 6 7,600 SH   SOLE   7,600 0 0
PRICESMART INC COM COM 741511109 1,655 19,017 SH   DFND   13,586 5,431 0
PRIVATEBANCORP INC COM COM 742962103 2,174 74,809 SH   DFND   58,504 16,305 0
QUALCOMM INC COM COM 747525103 1,207 15,242 SH   DFND   9,067 6,175 0
RACKSPACE HOSTING INC COM COM 750086100 439 13,036 SH   DFND   8,423 4,613 0
ROSS STORES INC COM COM 778296103 960 14,514 SH   DFND   10,002 4,512 0
SENOMYX INC COM COM 81724Q107 1,119 129,451 SH   DFND   74,216 55,235 0
SPDR GOLD TRUST COM 78463V107 13 100 SH   SOLE   100 0 0
TJX COS INC NEW COM COM 872540109 294 5,533 SH   DFND   2,333 3,200 0
TRONOX LTD SHS CL A COM Q9235V101 2,903 107,933 SH   DFND   83,824 24,109 0
UNILEVER NV N Y SHS NEW COM 904784709 245 5,600 SH   SOLE   5,600 0 0
UNION PAC CORP COM 907818108 1,528 15,317 SH   DFND   13,917 1,400 0
VANGUARD MUN BD FD INC INTER T MUTUAL FUNDS 922021407 237 20,313 SH   DFND   0 20,313 0
WELLS FARGO & CO NEW COM COM 949746101 326 6,200 SH   DFND   4,420 1,780 0
WESTERN DIGITAL CORP COM COM 958102105 3,607 39,075 SH   DFND   27,401 11,674 0
ZIONS BANCORPORATION COM COM 989701107 1,677 56,899 SH   DFND   38,201 18,698 0