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 387 11,532 SH   SOLE   11,532 0 0
ABIOMED INC COM COM 3654100 2,012 52,862 SH   DFND   35,626 17,236 0
ALLEGHANY CORP DEL COM COM 17175100 324 700 SH   SOLE   700 0 0
AMERICAN NATL INS CO COM COM 28591105 3,081 26,960 SH   DFND   19,939 7,621 0
ASTROTECH CORP COM 46484101 35 14,200 SH   SOLE   14,200 0 0
ATMOS ENERGY CORP COM COM 49560105 1,108 19,887 SH   DFND   15,629 4,258 0
BLACK HILLS CORP COM COM 92113109 2,034 38,707 SH   DFND   25,367 13,340 0
BOEING CO COM COM 97023105 408 3,140 SH   DFND   3,090 50 0
BRISTOL MYERS SQUIBB CO COM 110122108 302 5,123 SH   SOLE   5,123 0 0
CALAVO GROWERS INC COM COM 128246105 1,601 33,851 SH   DFND   24,965 8,886 0
CALIFORNIA RESOURCES CORP COM 13057Q107 0 24 SH   SOLE   24 0 0
CAMDEN PPTY TR SH BEN INT COM 133131102 1,880 25,456 SH   DFND   18,198 7,258 0
CASEYS GEN STORES INC COM COM 147528103 1,966 21,767 SH   DFND   15,150 6,617 0
CELGENE CORP RT COM 151020112 10 3,200 SH   SOLE   3,200 0 0
CHEVRONTEXACO CORP COM COM 166764100 410 3,652 SH   SOLE   3,652 0 0
COMSTOCK RES INC COM NEW COM 205768203 7 1,006 SH   SOLE   1,006 0 0
CONTANGO OIL & GAS COMPANY COM COM 21075N204 1,702 58,224 SH   DFND   38,217 20,007 0
CORNING INC COM COM 219350105 206 9,000 SH   SOLE   9,000 0 0
COUER MINING ING COM 192108504 20 3,825 SH   SOLE   3,825 0 0
CREDIT SUISSE NASSAU BRH GOLD PREFERRED STOCKS 22542D480 278 23,290 SH   DFND   6,840 16,450 0
CUBIC CORP COM COM 229669106 1,685 32,022 SH   DFND   20,483 11,539 0
DEERE & CO COM COM 244199105 354 4,000 SH   DFND   2,000 2,000 0
DOW CHEMICAL CORP COM 260543103 312 6,850 SH   SOLE   6,964 0 0
ENSCO PLC SHS CLASS A COM G3157S106 914 30,506 SH   DFND   25,629 4,877 0
ETFS SILVER TRUST COM 26922X107 5 324 SH   SOLE   324 0 0
EXCO RESOURCES INC COM 269279402 2 1,000 SH   SOLE   1,000 0 0
EXXON MOBIL CORP COM COM 30231G102 612 6,622 SH   SOLE   6,622 0 0
FIREEYE INC COM COM 31816Q101 1,672 52,931 SH   DFND   37,901 15,030 0
GENERAL ELEC CO COM 369604103 300 11,870 SH   SOLE   11,870 0 0
GTT COMMUNICATIONS INC COM COM 362393100 1,529 115,633 SH   DFND   81,663 33,970 0
HD SUPPLY HLDGS INC COM COM 40416M105 487 16,528 SH   DFND   10,760 5,768 0
ILLUMINA INC COM COM 452327109 1,854 10,044 SH   DFND   7,138 2,906 0
INTREPID POTASH INC COM COM 46121Y102 2,067 148,952 SH   DFND   100,222 48,730 0
ISHARES GOLD TRUST COM 464285105 8 656 SH   SOLE   656 0 0
ISHARES TR RUSSELL MCP VL COM 464287473 616 8,345 SH   DFND   5,435 2,910 0
JACOBS ENGR GROUP INC DEL COM COM 469814107 1,613 36,101 SH   DFND   24,956 11,145 0
JOHNSON & JOHNSON COM 478160104 1,283 12,273 SH   DFND   7,543 4,730 0
KKR & CO L P DEL COM UNITS COM 48248M102 400 17,235 SH   DFND   13,695 3,540 0
LIMONEIRA CO COM COM 532746104 1,182 47,316 SH   DFND   32,281 15,035 0
LSI INDS INC COM COM 50216C108 88 13,000 SH   SOLE   13,000 0 0
MASTEC INC COM COM 576323109 1,890 83,597 SH   DFND   57,730 25,867 0
MCDERMOTT INTERNATIONAL COM 580037109 13 4,600 SH   SOLE   4,600 0 0
MEAD JOHNSON NUTRITION CO COM COM 582839106 358 3,560 SH   SOLE   3,560 0 0
MICROSEMI CORP COM COM 595137100 1,954 68,852 SH   DFND   48,679 20,173 0
MILLER ENERGY RES INC COM COM 600527105 5 2,300 SH   SOLE   2,300 0 0
MILLS MUSIC TRUST COM 601158108 1 60 SH   SOLE   60 0 0
MTS SYS CORP COM COM 553777103 1,000 13,328 SH   DFND   9,393 3,935 0
NEWMONT MINING CORP COM 651639106 15 800 SH   SOLE   800 0 0
NORFOLK SOUTHN CORP COM 655844108 684 6,240 SH   SOLE   6,240 0 0
OMNICOM GROUP COM COM 681919106 592 7,647 SH   DFND   2,987 4,660 0
PFIZER INC COM 717081103 368 11,820 SH   SOLE   11,820 0 0
PHIBRO ANIMAL HEALTH CORP CL A COM 71742Q106 948 30,032 SH   DFND   20,712 9,320 0
PLASMATECH BIOPHARMACEUTICALS INC COM 72754H109 0 100 SH   SOLE   100 0 0
PREMIER EXHIBITIONS INC COM 740S1E102 2 3,000 SH   SOLE   3,000 0 0
PRICESMART INC COM COM 741511109 1,687 18,489 SH   DFND   12,919 5,570 0
PRIVATEBANCORP INC COM COM 742962103 2,410 72,154 SH   DFND   55,630 16,524 0
QUALCOMM INC COM COM 747525103 1,180 15,869 SH   DFND   9,174 6,695 0
ROSS STORES INC COM COM 778296103 1,057 11,215 SH   DFND   6,373 4,842 0
SABINE OIL & GAS CORP COM 78532P107 0 25 SH   SOLE   25 0 0
SENOMYX INC COM COM 81724Q107 935 155,505 SH   DFND   101,082 54,423 0
SJW CORP COM COM 784305104 249 7,740 SH   SOLE   7,740 0 0
SNAP ON INC COM COM 833034101 201 1,470 SH   SOLE   1,470 0 0
SPDR GOLD TRUST COM 78463V107 11 100 SH   SOLE   100 0 0
TJX COS INC NEW COM COM 872540109 785 11,450 SH   DFND   7,140 4,310 0
TRONOX LTD SHS CL A COM Q9235V101 2,458 102,946 SH   DFND   78,783 24,163 0
UNILEVER NV N Y SHS NEW COM 904784709 219 5,600 SH   SOLE   5,600 0 0
UNION PAC CORP COM 907818108 595 4,992 SH   SOLE   4,992 0 0
VALERO ENERGY CORP COM 91913Y100 20 400 SH   SOLE   400 0 0
WELLS FARGO & CO NEW COM COM 949746101 354 6,465 SH   DFND   4,405 2,060 0
WESTERN DIGITAL CORP COM COM 958102105 4,203 37,969 SH   DFND   26,307 11,662 0