Investors Research 13F-HR Quarterly holdings report by institutional manager

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

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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
DEUTSCHE BANK AG	NAMEN AKT	D18190898	362	19,013	SH		SOLE		0	0	19,013
BEMIS INC	COM	081437105	256	5,350	SH		SOLE		0	0	5,350
PFIZER INC	COM	717081103	833	22,985	SH		SOLE		0	0	22,985
ERICSSON	ADR B SEK 10	294821608	398	59,625	SH		SOLE		0	0	59,625
KONINKLIJKE PHILIPS N V	NY REG SH NEW	500472303	229	6,070	SH		SOLE		0	0	6,070
TEVA PHARMACEUTICAL INDS LTD	SPONSORED ADR	881624209	584	30,842	SH		SOLE		0	0	30,842
NETAPP INC	COM	64110D104	721	13,025	SH		SOLE		0	0	13,025
BENCHMARK ELECTRS INC	COM	08160H101	477	16,400	SH		SOLE		0	0	16,400
HOLLYSYS AUTOMATION TECHNOLO	SHS	G45667105	398	17,850	SH		SOLE		0	0	17,850
GENERAL ELECTRIC CO	COM	369604103	484	27,730	SH		SOLE		0	0	27,730
TUESDAY MORNING CORP	COM NEW	899035505	38	13,650	SH		SOLE		0	0	13,650
ORANGE	SPONSORED ADR	684060106	212	12,275	SH		SOLE		0	0	12,275
DSW INC	CL A	23334L102	884	41,300	SH		SOLE		0	0	41,300
BLACK BOX CORP DEL	COM	091826107	75	21,150	SH		SOLE		0	0	21,150
DARLING INGREDIENTS INC	COM	237266101	700	38,600	SH		SOLE		0	0	38,600
ESSENDANT INC	COM	296689102	648	69,875	SH		SOLE		0	0	69,875
WEATHERFORD INTL PLC	ORD SHS	G48833100	105	25,123	SH		SOLE		0	0	25,123
BOJANGLES INC	COM	097488100	145	12,300	SH		SOLE		0	0	12,300
H & E EQUIPMENT SERVICES INC	COM	404030108	569	14,000	SH		SOLE		0	0	14,000
NUCOR CORP	COM	670346105	207	3,255	SH		SOLE		0	0	3,255
AMERICA MOVIL SAB DE CV	SPON ADR L SHS	02364W105	513	29,890	SH		SOLE		0	0	29,890
HSBC HLDGS PLC	SPON ADR NEW	404280406	534	10,344	SH		SOLE		0	0	10,344
PLATFORM SPECIALTY PRODS COR	COM	72766Q105	134	13,500	SH		SOLE		0	0	13,500
KNOLL INC	COM NEW	498904200	234	10,150	SH		SOLE		0	0	10,150
DIAMOND OFFSHORE DRILLING IN	COM	25271C102	209	11,259	SH		SOLE		0	0	11,259
HORIZON PHARMA PLC	SHS	G4617B105	174	11,900	SH		SOLE		0	0	11,900
CALLAWAY GOLF CO	COM	131193104	217	15,550	SH		SOLE		0	0	15,550
AMERICAN EXPRESS CO	COM	025816109	207	2,088	SH		SOLE		0	0	2,088
BUNGE LIMITED	COM	G16962105	634	9,450	SH		SOLE		0	0	9,450
REGIS CORP MINN	COM	758932107	1,024	66,675	SH		SOLE		0	0	66,675
STEIN MART INC	COM	858375108	13	11,300	SH		SOLE		0	0	11,300
PULTE GROUP INC	COM	745867101	320	9,639	SH		SOLE		0	0	9,639
NOBLE CORP PLC	SHS USD	G65431101	138	30,451	SH		SOLE		0	0	30,451
DOMTAR CORP	COM NEW	257559203	1,858	37,525	SH		SOLE		0	0	37,525
MATERION CORP	COM	576690101	555	11,425	SH		SOLE		0	0	11,425
VISHAY INTERTECHNOLOGY INC	COM	928298108	1,259	60,654	SH		SOLE		0	0	60,654
CHESAPEAKE ENERGY CORP	COM	165167107	90	22,700	SH		SOLE		0	0	22,700
KINROSS GOLD CORP	COM NO PAR	496902404	63	14,500	SH		SOLE		0	0	14,500
LAZARD LTD	SHS A	G54050102	386	7,350	SH		SOLE		0	0	7,350
FREIGHTCAR AMER INC	COM	357023100	233	13,650	SH		SOLE		0	0	13,650
VISTA OUTDOOR INC	COM	928377100	632	43,375	SH		SOLE		0	0	43,375
BORGWARNER INC	COM	099724106	358	7,000	SH		SOLE		0	0	7,000
GAIN CAP HLDGS INC	COM	36268W100	141	14,100	SH		SOLE		0	0	14,100
ENEL GENERACION CHILE S A	SPONSORED ADR	29244T101	552	20,500	SH		SOLE		0	0	20,500
TELEFONICA S A	SPONSORED ADR	879382208	910	94,025	SH		SOLE		0	0	94,025
TITAN INTL INC ILL	COM	88830M102	575	44,650	SH		SOLE		0	0	44,650
DELL TECHNOLOGIES INC	COM CL V	24703L103	225	2,772	SH		SOLE		0	0	2,772
MATTEL INC	COM	577081102	678	44,100	SH		SOLE		0	0	44,100
FLUOR CORP NEW	COM	343412102	905	17,525	SH		SOLE		0	0	17,525
NOVO-NORDISK A S	ADR	670100205	483	9,000	SH		SOLE		0	0	9,000
QUALCOMM INC	COM	747525103	297	4,643	SH		SOLE		0	0	4,643
GNC HLDGS INC	COM CL A	36191G107	44	11,950	SH		SOLE		0	0	11,950
PERRIGO CO PLC	SHS	G97822103	214	2,450	SH		SOLE		0	0	2,450
TRAVELERS COMPANIES INC	COM	89417E109	310	2,285	SH		SOLE		0	0	2,285
KRONOS WORLDWIDE INC	COM	50105F105	229	8,900	SH		SOLE		0	0	8,900
TARGET CORP	COM	87612E106	1,178	18,050	SH		SOLE		0	0	18,050
ENDO INTL PLC	SHS	G30401106	278	35,825	SH		SOLE		0	0	35,825
AT&T INC	COM	00206R102	771	19,826	SH		SOLE		0	0	19,826
BLUCORA INC	COM	095229100	248	11,200	SH		SOLE		0	0	11,200
SPARTANNASH CO	COM	847215100	839	31,430	SH		SOLE		0	0	31,430
KRATON CORPORATION	COM	50077C106	527	10,950	SH		SOLE		0	0	10,950
ROCKY BRANDS INC	COM	774515100	440	23,300	SH		SOLE		0	0	23,300
APPLE INC	COM	037833100	479	2,833	SH		SOLE		0	0	2,833
BRINKER INTL INC	COM	109641100	218	5,625	SH		SOLE		0	0	5,625
WESTLAKE CHEM CORP	COM	960413102	533	5,000	SH		SOLE		0	0	5,000
GAP INC DEL	COM	364760108	310	9,100	SH		SOLE		0	0	9,100
DIPLOMAT PHARMACY INC	COM	25456K101	1,938	96,550	SH		SOLE		0	0	96,550
GREIF INC	CL A	397624107	1,057	17,450	SH		SOLE		0	0	17,450
DELTA AIR LINES INC DEL	COM NEW	247361702	753	13,441	SH		SOLE		0	0	13,441
BRIGGS & STRATTON CORP	COM	109043109	458	18,050	SH		SOLE		0	0	18,050
MARCUS & MILLICHAP INC	COM	566324109	618	18,950	SH		SOLE		0	0	18,950
MDU RES GROUP INC	COM	552690109	618	22,975	SH		SOLE		0	0	22,975
AECOM	COM	00766T100	647	17,426	SH		SOLE		0	0	17,426
L BRANDS INC	COM	501797104	314	5,208	SH		SOLE		0	0	5,208
KOPPERS HOLDINGS INC	COM	50060P106	957	18,800	SH		SOLE		0	0	18,800
JOHNSON CTLS INTL PLC	SHS	G51502105	223	5,849	SH		SOLE		0	0	5,849
TEREX CORP NEW	COM	880779103	203	4,200	SH		SOLE		0	0	4,200
FTD COS INC	COM	30281V108	214	29,700	SH		SOLE		0	0	29,700
PIER 1 IMPORTS INC	COM	720279108	63	15,100	SH		SOLE		0	0	15,100
CANADIAN NAT RES LTD	COM	136385101	465	13,026	SH		SOLE		0	0	13,026
SUNTRUST BKS INC	COM	867914103	226	3,500	SH		SOLE		0	0	3,500
CA INC	COM	12673P105	324	9,725	SH		SOLE		0	0	9,725
ARCHER DANIELS MIDLAND CO	COM	039483102	385	9,607	SH		SOLE		0	0	9,607
WEIGHT WATCHERS INTL INC NEW	COM	948626106	258	5,825	SH		SOLE		0	0	5,825
NABORS INDUSTRIES LTD	SHS	G6359F103	364	53,249	SH		SOLE		0	0	53,249
INTEL CORP	COM	458140100	1,893	41,009	SH		SOLE		0	0	41,009
TIME WARNER INC	COM NEW	887317303	378	4,134	SH		SOLE		0	0	4,134
CUBIC CORP	COM	229669106	432	7,325	SH		SOLE		0	0	7,325
JUNIPER NETWORKS INC	COM	48203R104	445	15,600	SH		SOLE		0	0	15,600
RENT A CTR INC NEW	COM	76009N100	493	44,375	SH		SOLE		0	0	44,375
SCHLUMBERGER LTD	COM	806857108	720	10,678	SH		SOLE		0	0	10,678
KNOWLES CORP	COM	49926D109	216	14,700	SH		SOLE		0	0	14,700
MYLAN N V	SHS EURO	N59465109	303	7,150	SH		SOLE		0	0	7,150
JANUS HENDERSON GROUP PLC	ORD SHS	G4474Y214	408	10,655	SH		SOLE		0	0	10,655
GATX CORP	COM	361448103	233	3,750	SH		SOLE		0	0	3,750
SHAW COMMUNICATIONS INC	CL B CONV	82028K200	391	17,125	SH		SOLE		0	0	17,125
FREEPORT-MCMORAN INC	CL B	35671D857	226	11,900	SH		SOLE		0	0	11,900
LEE ENTERPRISES INC	COM	523768109	26	11,100	SH		SOLE		0	0	11,100
FITBIT INC	CL A	33812L102	101	17,700	SH		SOLE		0	0	17,700
HUANENG PWR INTL INC	SPON ADR H SHS	443304100	684	27,340	SH		SOLE		0	0	27,340
VEON LTD	SPONSORED ADR	91822M106	44	11,500	SH		SOLE		0	0	11,500
SUPERIOR INDS INTL INC	COM	868168105	298	20,100	SH		SOLE		0	0	20,100
CABOT CORP	COM	127055101	1,104	17,925	SH		SOLE		0	0	17,925
CALGON CARBON CORP	COM	129603106	831	39,000	SH		SOLE		0	0	39,000
AMERICAN INTL GROUP INC	COM NEW	026874784	256	4,290	SH		SOLE		0	0	4,290
JPMORGAN CHASE & CO	COM	46625H100	340	3,183	SH		SOLE		0	0	3,183
COTY INC	COM CL A	222070203	461	23,200	SH		SOLE		0	0	23,200
MOVADO GROUP INC	COM	624580106	567	17,600	SH		SOLE		0	0	17,600
PBF ENERGY INC	CL A	69318G106	498	14,050	SH		SOLE		0	0	14,050
CALPINE CORP	COM NEW	131347304	969	64,025	SH		SOLE		0	0	64,025
COMCAST CORP NEW	CL A	20030N101	431	10,750	SH		SOLE		0	0	10,750
INTEGER HLDGS CORP	COM	45826H109	743	16,400	SH		SOLE		0	0	16,400
KINDRED HEALTHCARE INC	COM	494580103	239	24,640	SH		SOLE		0	0	24,640
GRUPO TELEVISA SA	SPON ADR REP ORD	40049J206	579	31,025	SH		SOLE		0	0	31,025
CISCO SYS INC	COM	17275R102	874	22,813	SH		SOLE		0	0	22,813
MOSAIC CO NEW	COM	61945C103	1,346	52,450	SH		SOLE		0	0	52,450
EXXON MOBIL CORP	COM	30231G102	221	2,646	SH		SOLE		0	0	2,646
PATTERSON UTI ENERGY INC	COM	703481101	617	26,825	SH		SOLE		0	0	26,825
PENSKE AUTOMOTIVE GRP INC	COM	70959W103	263	5,500	SH		SOLE		0	0	5,500
WESCO AIRCRAFT HLDGS INC	COM	950814103	649	87,700	SH		SOLE		0	0	87,700
CORNING INC	COM	219350105	603	18,840	SH		SOLE		0	0	18,840
ENNIS INC	COM	293389102	224	10,800	SH		SOLE		0	0	10,800
BB&T CORP	COM	054937107	1,211	24,362	SH		SOLE		0	0	24,362
SRC ENERGY INC	COM	78470V108	159	18,600	SH		SOLE		0	0	18,600
COCA COLA FEMSA S A B DE C V	SPON ADR REP L	191241108	230	3,300	SH		SOLE		0	0	3,300
EATON CORP PLC	SHS	G29183103	352	4,450	SH		SOLE		0	0	4,450
AMERICAN VANGUARD CORP	COM	030371108	686	34,925	SH		SOLE		0	0	34,925
KULICKE & SOFFA INDS INC	COM	501242101	377	15,500	SH		SOLE		0	0	15,500
SANOFI	SPONSORED ADR	80105N105	923	21,458	SH		SOLE		0	0	21,458
ENTERGY CORP NEW	COM	29364G103	232	2,850	SH		SOLE		0	0	2,850
WOLVERINE WORLD WIDE INC	COM	978097103	312	9,800	SH		SOLE		0	0	9,800
CONDUENT INC	COM	206787103	330	20,398	SH		SOLE		0	0	20,398
HOLLYFRONTIER CORP	COM	436106108	405	7,900	SH		SOLE		0	0	7,900
HARSCO CORP	COM	415864107	1,137	60,982	SH		SOLE		0	0	60,982
WESTROCK CO	COM	96145D105	345	5,458	SH		SOLE		0	0	5,458
WILLIAMS SONOMA INC	COM	969904101	420	8,125	SH		SOLE		0	0	8,125
AGRIUM INC	COM	008916108	385	3,350	SH		SOLE		0	0	3,350
QUANTA SVCS INC	COM	74762E102	313	8,000	SH		SOLE		0	0	8,000
MOBILE TELESYSTEMS PJSC	SPONSORED ADR	607409109	307	30,175	SH		SOLE		0	0	30,175
ENI S P A	SPONSORED ADR	26874R108	405	12,200	SH		SOLE		0	0	12,200
TRUEBLUE INC	COM	89785X101	355	12,900	SH		SOLE		0	0	12,900
MODINE MFG CO	COM	607828100	345	17,100	SH		SOLE		0	0	17,100
CHICAGO BRIDGE & IRON CO N V	COM	167250109	177	10,950	SH		SOLE		0	0	10,950
CIT GROUP INC	COM NEW	125581801	364	7,400	SH		SOLE		0	0	7,400
CREE INC	COM	225447101	534	14,375	SH		SOLE		0	0	14,375
ROYAL DUTCH SHELL PLC	SPONS ADR A	780259206	422	6,321	SH		SOLE		0	0	6,321
ROWAN COMPANIES PLC	SHS CL A	G7665A101	177	11,300	SH		SOLE		0	0	11,300
XEROX CORP	COM NEW	984121608	746	25,594	SH		SOLE		0	0	25,594
KEMET CORP	COM NEW	488360207	267	17,753	SH		SOLE		0	0	17,753
NUANCE COMMUNICATIONS INC	COM	67020Y100	472	28,850	SH		SOLE		0	0	28,850
BRADY CORP	CL A	104674106	622	16,400	SH		SOLE		0	0	16,400
GLATFELTER	COM	377316104	616	28,750	SH		SOLE		0	0	28,750
NRG ENERGY INC	COM NEW	629377508	1,132	39,730	SH		SOLE		0	0	39,730
TELEPHONE & DATA SYS INC	COM NEW	879433829	341	12,250	SH		SOLE		0	0	12,250
STANTEC INC	COM	85472N109	509	18,200	SH		SOLE		0	0	18,200
SONIC AUTOMOTIVE INC	CL A	83545G102	825	44,725	SH		SOLE		0	0	44,725
CF INDS HLDGS INC	COM	125269100	1,536	36,100	SH		SOLE		0	0	36,100
KENNAMETAL INC	COM	489170100	919	18,975	SH		SOLE		0	0	18,975
ALLSCRIPTS HEALTHCARE SOLUTN	COM	01988P108	470	32,275	SH		SOLE		0	0	32,275
GILEAD SCIENCES INC	COM	375558103	340	4,750	SH		SOLE		0	0	4,750
STATOIL ASA	SPONSORED ADR	85771P102	1,073	50,100	SH		SOLE		0	0	50,100
TAPESTRY INC	COM	876030107	265	6,000	SH		SOLE		0	0	6,000
LIMELIGHT NETWORKS INC	COM	53261M104	121	27,358	SH		SOLE		0	0	27,358
SYNAPTICS INC	COM	87157D109	339	8,500	SH		SOLE		0	0	8,500
QUALITY SYS INC	COM	747582104	562	41,375	SH		SOLE		0	0	41,375
DESTINATION MATERNITY CORP	COM	25065D100	42	14,025	SH		SOLE		0	0	14,025
AVNET INC	COM	053807103	768	19,375	SH		SOLE		0	0	19,375
TRIMAS CORP	COM NEW	896215209	477	17,825	SH		SOLE		0	0	17,825
G-III APPAREL GROUP LTD	COM	36237H101	704	19,075	SH		SOLE		0	0	19,075
SELECT MED HLDGS CORP	COM	81619Q105	551	31,225	SH		SOLE		0	0	31,225
AAR CORP	COM	000361105	342	8,700	SH		SOLE		0	0	8,700
CHINA MOBILE LIMITED	SPONSORED ADR	16941M109	269	5,315	SH		SOLE		0	0	5,315
TRIUMPH GROUP INC NEW	COM	896818101	1,031	37,900	SH		SOLE		0	0	37,900
VODAFONE GROUP PLC NEW	SPONSORED ADR	92857W308	1,059	33,207	SH		SOLE		0	0	33,207
EXELON CORP	COM	30161N101	583	14,788	SH		SOLE		0	0	14,788
OLIN CORP	COM PAR $1	680665205	646	18,150	SH		SOLE		0	0	18,150
OFFICE DEPOT INC	COM	676220106	50	14,200	SH		SOLE		0	0	14,200
BARCLAYS PLC	ADR	06738E204	372	34,098	SH		SOLE		0	0	34,098
LIBBEY INC	COM	529898108	171	22,800	SH		SOLE		0	0	22,800
REXNORD CORP NEW	COM	76169B102	268	10,300	SH		SOLE		0	0	10,300
ENVISION HEALTHCARE CORP	COM	29414D100	338	9,783	SH		SOLE		0	0	9,783
PHIBRO ANIMAL HEALTH CORP	CL A COM	71742Q106	433	12,925	SH		SOLE		0	0	12,925
GENERAL CABLE CORP DEL NEW	COM	369300108	1,223	41,315	SH		SOLE		0	0	41,315
ACTUANT CORP	CL A NEW	00508X203	1,159	45,825	SH		SOLE		0	0	45,825
CAMECO CORP	COM	13321L108	580	62,850	SH		SOLE		0	0	62,850
NTT DOCOMO INC	SPONS ADR	62942M201	328	13,800	SH		SOLE		0	0	13,800
FUTUREFUEL CORPORATION	COM	36116M106	223	15,800	SH		SOLE		0	0	15,800
AKORN INC	COM	009728106	780	24,200	SH		SOLE		0	0	24,200
COSAN LTD	SHS A	G25343107	186	19,200	SH		SOLE		0	0	19,200
TELECOM ITALIA S P A NEW	SPON ADR ORD	87927Y102	87	10,100	SH		SOLE		0	0	10,100
GLAXOSMITHKLINE PLC	SPONSORED ADR	37733W105	599	16,897	SH		SOLE		0	0	16,897
UNUM GROUP	COM	91529Y106	372	6,775	SH		SOLE		0	0	6,775
INTL PAPER CO	COM	460146103	1,151	19,860	SH		SOLE		0	0	19,860
WHEATON PRECIOUS METALS CORP	COM	962879102	937	42,325	SH		SOLE		0	0	42,325
YAMANA GOLD INC	COM	98462Y100	95	30,400	SH		SOLE		0	0	30,400
PENTAIR PLC	SHS	G7S00T104	263	3,723	SH		SOLE		0	0	3,723
ANDERSONS INC	COM	034164103	942	30,225	SH		SOLE		0	0	30,225
KOHLS CORP	COM	500255104	1,185	21,850	SH		SOLE		0	0	21,850
PRIMORIS SVCS CORP	COM	74164F103	413	15,200	SH		SOLE		0	0	15,200
CITIGROUP INC	COM NEW	172967424	784	10,535	SH		SOLE		0	0	10,535
SUNCOR ENERGY INC NEW	COM	867224107	765	20,825	SH		SOLE		0	0	20,825
PILGRIMS PRIDE CORP NEW	COM	72147K108	812	26,150	SH		SOLE		0	0	26,150
GOLDCORP INC NEW	COM	380956409	667	52,200	SH		SOLE		0	0	52,200
COMMUNITY HEALTH SYS INC NEW	COM	203668108	60	14,086	SH		SOLE		0	0	14,086
DOWDUPONT INC	COM	26078J100	503	7,066	SH		SOLE		0	0	7,066
COTT CORP QUE	COM	22163N106	338	20,300	SH		SOLE		0	0	20,300
MAGNACHIP SEMICONDUCTOR CORP	COM	55933J203	237	23,800	SH		SOLE		0	0	23,800
BRF SA	SPONSORED ADR	10552T107	980	87,075	SH		SOLE		0	0	87,075
HOME DEPOT INC	COM	437076102	275	1,450	SH		SOLE		0	0	1,450
DANA INCORPORATED	COM	235825205	467	14,575	SH		SOLE		0	0	14,575
ACCO BRANDS CORP	COM	00081T108	398	32,643	SH		SOLE		0	0	32,643
KELLY SVCS INC	CL A	488152208	1,463	53,650	SH		SOLE		0	0	53,650
FIRSTENERGY CORP	COM	337932107	772	25,219	SH		SOLE		0	0	25,219
METLIFE INC	COM	59156R108	224	4,425	SH		SOLE		0	0	4,425
NEWELL BRANDS INC	COM	651229106	671	21,720	SH		SOLE		0	0	21,720
TEGNA INC	COM	87901J105	242	17,175	SH		SOLE		0	0	17,175
FORD MTR CO DEL	COM PAR $0.01	345370860	178	14,218	SH		SOLE		0	0	14,218
VOLT INFORMATION SCIENCES IN	COM	928703107	69	18,050	SH		SOLE		0	0	18,050
LOEWS CORP	COM	540424108	600	12,000	SH		SOLE		0	0	12,000
COMPANIA CERVECERIAS UNIDAS	SPONSORED ADR	204429104	1,313	44,375	SH		SOLE		0	0	44,375
WELLS FARGO CO NEW	COM	949746101	291	4,795	SH		SOLE		0	0	4,795
INTERNATIONAL BUSINESS MACHS	COM	459200101	464	3,025	SH		SOLE		0	0	3,025
CHRISTOPHER & BANKS CORP	COM	171046105	15	12,000	SH		SOLE		0	0	12,000
HONDA MOTOR LTD	AMERN SHS	438128308	1,269	37,250	SH		SOLE		0	0	37,250
SCANA CORP NEW	COM	80589M102	481	12,100	SH		SOLE		0	0	12,100
VERIZON COMMUNICATIONS INC	COM	92343V104	517	9,766	SH		SOLE		0	0	9,766
MASTEC INC	COM	576323109	310	6,325	SH		SOLE		0	0	6,325
ENSCO PLC	SHS CLASS A	G3157S106	128	21,580	SH		SOLE		0	0	21,580
LOCKHEED MARTIN CORP	COM	539830109	753	2,344	SH		SOLE		0	0	2,344
BANK N S HALIFAX	COM	064149107	226	3,500	SH		SOLE		0	0	3,500
INTERNATIONAL GAME TECHNOLOG	SHS USD	G4863A108	212	7,993	SH		SOLE		0	0	7,993
CREDIT SUISSE GROUP	SPONSORED ADR	225401108	208	11,676	SH		SOLE		0	0	11,676
MICHAELS COS INC	COM	59408Q106	421	17,400	SH		SOLE		0	0	17,400
MERCK & CO INC	COM	58933Y105	791	14,057	SH		SOLE		0	0	14,057
SALLY BEAUTY HLDGS INC	COM	79546E104	383	20,425	SH		SOLE		0	0	20,425
SYNTEL INC	COM	87162H103	486	21,150	SH		SOLE		0	0	21,150
MICROSOFT CORP	COM	594918104	1,226	14,329	SH		SOLE		0	0	14,329
ORCHIDS PAPER PRODS CO DEL	COM	68572N104	153	11,950	SH		SOLE		0	0	11,950
RIO TINTO PLC	SPONSORED ADR	767204100	704	13,300	SH		SOLE		0	0	13,300
WAL-MART STORES INC	COM	931142103	602	6,096	SH		SOLE		0	0	6,096
NOMAD FOODS LTD	USD ORD SHS	G6564A105	223	13,200	SH		SOLE		0	0	13,200
LIQUIDITY SERVICES INC	COM	53635B107	171	35,325	SH		SOLE		0	0	35,325
KBR INC	COM	48242W106	867	43,725	SH		SOLE		0	0	43,725
NORDSTROM INC	COM	655664100	230	4,850	SH		SOLE		0	0	4,850
BT GROUP PLC	ADR	05577E101	1,266	69,475	SH		SOLE		0	0	69,475
ABB LTD	SPONSORED ADR	000375204	982	36,600	SH		SOLE		0	0	36,600
DEAN FOODS CO NEW	COM NEW	242370203	425	36,781	SH		SOLE		0	0	36,781
VERIFONE SYS INC	COM	92342Y109	532	30,025	SH		SOLE		0	0	30,025
CHINA UNICOM (HONG KONG) LTD	SPONSORED ADR	16945R104	670	49,500	SH		SOLE		0	0	49,500
SCHNITZER STL INDS	CL A	806882106	446	13,300	SH		SOLE		0	0	13,300
MUELLER INDS INC	COM	624756102	1,114	31,450	SH		SOLE		0	0	31,450
JABIL INC	COM	466313103	1,347	51,308	SH		SOLE		0	0	51,308
SPEEDWAY MOTORSPORTS INC	COM	847788106	282	14,950	SH		SOLE		0	0	14,950
STERICYCLE INC	COM	858912108	212	3,125	SH		SOLE		0	0	3,125
ANTHEM INC	COM	036752103	203	904	SH		SOLE		0	0	904
NOVARTIS A G	SPONSORED ADR	66987V109	304	3,624	SH		SOLE		0	0	3,624
PRECISION DRILLING CORP	COM 2010	74022D308	80	26,500	SH		SOLE		0	0	26,500
HUNTSMAN CORP	COM	447011107	311	9,350	SH		SOLE		0	0	9,350
STMICROELECTRONICS N V	NY REGISTRY	861012102	261	11,950	SH		SOLE		0	0	11,950
ARRIS INTL INC	SHS	G0551A103	503	19,575	SH		SOLE		0	0	19,575
CELESTICA INC	SUB VTG SHS	15101Q108	128	12,200	SH		SOLE		0	0	12,200
STEELCASE INC	CL A	858155203	226	14,900	SH		SOLE		0	0	14,900
MARINEMAX INC	COM	567908108	782	41,375	SH		SOLE		0	0	41,375
TRONOX LTD	SHS CL A	Q9235V101	347	16,900	SH		SOLE		0	0	16,900
INTERFACE INC	COM	458665304	262	10,400	SH		SOLE		0	0	10,400
BRISTOW GROUP INC	COM	110394103	193	14,300	SH		SOLE		0	0	14,300
CLEVELAND CLIFFS INC	COM	185899101	77	10,700	SH		SOLE		0	0	10,700
CROCS INC	COM	227046109	265	20,960	SH		SOLE		0	0	20,960
TREDEGAR CORP	COM	894650100	232	12,100	SH		SOLE		0	0	12,100
BARRICK GOLD CORP	COM	067901108	335	23,125	SH		SOLE		0	0	23,125
SPRINT CORP	COM SER 1	85207U105	74	12,600	SH		SOLE		0	0	12,600
GUESS INC	COM	401617105	707	41,902	SH		SOLE		0	0	41,902
GENERAL MTRS CO	COM	37045V100	216	5,264	SH		SOLE		0	0	5,264
HEWLETT PACKARD ENTERPRISE C	COM	42824C109	239	16,632	SH		SOLE		0	0	16,632
FLEX LTD	ORD	Y2573F102	815	45,300	SH		SOLE		0	0	45,300
AVON PRODS INC	COM	054303102	52	24,175	SH		SOLE		0	0	24,175
SIRIUS XM HLDGS INC	COM	82968B103	230	42,843	SH		SOLE		0	0	42,843
ARCBEST CORP	COM	03937C105	386	10,800	SH		SOLE		0	0	10,800
MARATHON OIL CORP	COM	565849106	206	12,150	SH		SOLE		0	0	12,150
OWENS ILL INC	COM NEW	690768403	1,158	52,250	SH		SOLE		0	0	52,250
ENCANA CORP	COM	292505104	194	14,575	SH		SOLE		0	0	14,575
PITNEY BOWES INC	COM	724479100	307	27,475	SH		SOLE		0	0	27,475
ACETO CORP	COM	004446100	222	21,500	SH		SOLE		0	0	21,500
POTASH CORP SASK INC	COM	73755L107	1,025	49,660	SH		SOLE		0	0	49,660
AMERICAN EAGLE OUTFITTERS NE	COM	02553E106	1,430	76,050	SH		SOLE		0	0	76,050
LAYNE CHRISTENSEN CO	COM	521050104	453	36,125	SH		SOLE		0	0	36,125
BLOOMIN BRANDS INC	COM	094235108	208	9,750	SH		SOLE		0	0	9,750
ARCONIC INC	COM	03965L100	378	13,885	SH		SOLE		0	0	13,885
EMERSON ELEC CO	COM	291011104	363	5,215	SH		SOLE		0	0	5,215
KROGER CO	COM	501044101	255	9,300	SH		SOLE		0	0	9,300
MACYS INC	COM	55616P104	1,022	40,564	SH		SOLE		0	0	40,564
ATLAS AIR WORLDWIDE HLDGS IN	COM NEW	049164205	305	5,200	SH		SOLE		0	0	5,200
COMPUTER TASK GROUP INC	COM	205477102	71	13,975	SH		SOLE		0	0	13,975
ARCELORMITTAL SA LUXEMBOURG	NY REGISTRY SH	03938L203	299	8,347	SH		SOLE		0	0	8,347
SIGNET JEWELERS LIMITED	SHS	G81276100	372	6,575	SH		SOLE		0	0	6,575
CANON INC	SPONSORED ADR	138006309	1,011	27,025	SH		SOLE		0	0	27,025
NOMURA HLDGS INC	SPONSORED ADR	65535H208	189	32,500	SH		SOLE		0	0	32,500
HP INC	COM	40434L105	364	17,332	SH		SOLE		0	0	17,332
ALCOA CORP	COM	013872106	248	4,607	SH		SOLE		0	0	4,607
ROGERS COMMUNICATIONS INC	CL B	775109200	1,042	20,450	SH		SOLE		0	0	20,450
LUXFER HOLDINGS PLC	SHS	G5698W116	228	14,500	SH		SOLE		0	0	14,500
TENET HEALTHCARE CORP	COM NEW	88033G407	477	31,475	SH		SOLE		0	0	31,475
BP PLC	SPONSORED ADR	055622104	385	9,150	SH		SOLE		0	0	9,150
TECK RESOURCES LTD	CL B	878742204	773	29,550	SH		SOLE		0	0	29,550
BANK AMER CORP	COM	060505104	657	22,249	SH		SOLE		0	0	22,249
AMERICAN AIRLS GROUP INC	COM	02376R102	283	5,432	SH		SOLE		0	0	5,432
FERRO CORP	COM	315405100	380	16,125	SH		SOLE		0	0	16,125
CELADON GROUP INC	COM	150838100	258	40,300	SH		SOLE		0	0	40,300
AMIRA NATURE FOODS LTD	SHS	G0335L102	51	12,350	SH		SOLE		0	0	12,350
ASTRAZENECA PLC	SPONSORED ADR	046353108	276	7,966	SH		SOLE		0	0	7,966
ARCOS DORADOS HOLDINGS INC	SHS CLASS -A -	G0457F107	383	37,050	SH		SOLE		0	0	37,050
MORGAN STANLEY	COM NEW	617446448	778	14,825	SH		SOLE		0	0	14,825
TITAN MACHY INC	COM	88830R101	1,114	52,640	SH		SOLE		0	0	52,640
TRINITY INDS INC	COM	896522109	350	9,350	SH		SOLE		0	0	9,350
ACACIA RESH CORP	ACACIA TCH COM	003881307	76	18,700	SH		SOLE		0	0	18,700
SCHULMAN A INC	COM	808194104	264	7,100	SH		SOLE		0	0	7,100
REALOGY HLDGS CORP	COM	75605Y106	563	21,250	SH		SOLE		0	0	21,250
ASCENA RETAIL GROUP INC	COM	04351G101	35	14,900	SH		SOLE		0	0	14,900
FINISH LINE INC	CL A	317923100	259	17,850	SH		SOLE		0	0	17,850
MICHAEL KORS HLDGS LTD	SHS	G60754101	1,798	28,570	SH		SOLE		0	0	28,570
LEUCADIA NATL CORP	COM	527288104	1,348	50,882	SH		SOLE		0	0	50,882
NASDAQ INC	COM	631103108	292	3,800	SH		SOLE		0	0	3,800
BIG 5 SPORTING GOODS CORP	COM	08915P101	170	22,345	SH		SOLE		0	0	22,345
TERNIUM SA	SPON ADR	880890108	205	6,500	SH		SOLE		0	0	6,500
AES CORP	COM	00130H105	629	58,075	SH		SOLE		0	0	58,075
CHART INDS INC	COM PAR $0.01	16115Q308	769	16,400	SH		SOLE		0	0	16,400
FREDS INC	CL A	356108100	168	41,375	SH		SOLE		0	0	41,375
ENTERCOM COMMUNICATIONS CORP	CL A	293639100	366	33,850	SH		SOLE		0	0	33,850
SYPRIS SOLUTIONS INC	COM	871655106	20	14,287	SH		SOLE		0	0	14,287
KIMBALL INTL INC	CL B	494274103	224	12,000	SH		SOLE		0	0	12,000
TRANSOCEAN LTD	REG SHS	H8817H100	155	14,525	SH		SOLE		0	0	14,525