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
DSW INC	CL A	23334L102	916	40,800	SH		SOLE		0	0	40,800
ORANGE	SPONSORED ADR	684060106	220	12,875	SH		SOLE		0	0	12,875
BLACK BOX CORP DEL	COM	091826107	58	28,750	SH		SOLE		0	0	28,750
ESSENDANT INC	COM	296689102	616	78,950	SH		SOLE		0	0	78,950
PFIZER INC	COM	717081103	816	22,985	SH		SOLE		0	0	22,985
BEMIS INC	COM	081437105	233	5,350	SH		SOLE		0	0	5,350
WEATHERFORD INTL PLC	ORD SHS	G48833100	62	27,173	SH		SOLE		0	0	27,173
DARLING INGREDIENTS INC	COM	237266101	668	38,600	SH		SOLE		0	0	38,600
BOJANGLES INC	COM	097488100	170	12,300	SH		SOLE		0	0	12,300
TEVA PHARMACEUTICAL INDS LTD	SPONSORED ADR	881624209	515	30,142	SH		SOLE		0	0	30,142
ERICSSON	ADR B SEK 10	294821608	382	59,725	SH		SOLE		0	0	59,725
KONINKLIJKE PHILIPS N V	NY REG SH NEW	500472303	233	6,070	SH		SOLE		0	0	6,070
NETAPP INC	COM	64110D104	804	13,025	SH		SOLE		0	0	13,025
BENCHMARK ELECTRS INC	COM	08160H101	478	16,000	SH		SOLE		0	0	16,000
DEUTSCHE BANK AG	NAMEN AKT	D18190898	266	19,013	SH		SOLE		0	0	19,013
HOLLYSYS AUTOMATION TECHNOLO	SHS	G45667105	441	17,850	SH		SOLE		0	0	17,850
GENERAL ELECTRIC CO	COM	369604103	386	28,635	SH		SOLE		0	0	28,635
TUESDAY MORNING CORP	COM NEW	899035505	54	13,650	SH		SOLE		0	0	13,650
SPDR SERIES TRUST	S&P 400 MDCP GRW	78464A821	437	2,776	SH		SOLE		0	0	2,776
H & E EQUIPMENT SERVICES INC	COM	404030108	539	14,000	SH		SOLE		0	0	14,000
AMERICA MOVIL SAB DE CV	SPON ADR L SHS	02364W105	565	29,590	SH		SOLE		0	0	29,590
PLATFORM SPECIALTY PRODS COR	COM	72766Q105	130	13,500	SH		SOLE		0	0	13,500
HSBC HLDGS PLC	SPON ADR NEW	404280406	487	10,219	SH		SOLE		0	0	10,219
DIAMOND OFFSHORE DRILLING IN	COM	25271C102	178	12,109	SH		SOLE		0	0	12,109
NOBLE CORP PLC	SHS USD	G65431101	117	31,526	SH		SOLE		0	0	31,526
KNOLL INC	COM NEW	498904200	205	10,150	SH		SOLE		0	0	10,150
DOMTAR CORP	COM NEW	257559203	1,550	36,425	SH		SOLE		0	0	36,425
MATERION CORP	COM	576690101	570	11,175	SH		SOLE		0	0	11,175
VISHAY INTERTECHNOLOGY INC	COM	928298108	1,093	58,754	SH		SOLE		0	0	58,754
CALLAWAY GOLF CO	COM	131193104	254	15,550	SH		SOLE		0	0	15,550
CHESAPEAKE ENERGY CORP	COM	165167107	75	24,800	SH		SOLE		0	0	24,800
HORIZON PHARMA PLC	SHS	G4617B105	169	11,900	SH		SOLE		0	0	11,900
STEIN MART INC	COM	858375108	17	11,300	SH		SOLE		0	0	11,300
REGIS CORP MINN	COM	758932107	985	65,075	SH		SOLE		0	0	65,075
BUNGE LIMITED	COM	G16962105	689	9,325	SH		SOLE		0	0	9,325
CVS HEALTH CORP	COM	126650100	510	8,205	SH		SOLE		0	0	8,205
KINROSS GOLD CORP	COM NO PAR	496902404	57	14,500	SH		SOLE		0	0	14,500
DBX ETF TR	XTRACK MSCI EAFE	233051200	440	14,332	SH		SOLE		0	0	14,332
PULTE GROUP INC	COM	745867101	284	9,639	SH		SOLE		0	0	9,639
LAZARD LTD	SHS A	G54050102	386	7,350	SH		SOLE		0	0	7,350
BRINKER INTL INC	COM	109641100	203	5,625	SH		SOLE		0	0	5,625
FREIGHTCAR AMER INC	COM	357023100	180	13,450	SH		SOLE		0	0	13,450
TRAVELERS COMPANIES INC	COM	89417E109	317	2,285	SH		SOLE		0	0	2,285
PERRIGO CO PLC	SHS	G97822103	204	2,450	SH		SOLE		0	0	2,450
KRONOS WORLDWIDE INC	COM	50105F105	201	8,900	SH		SOLE		0	0	8,900
TARGET CORP	COM	87612E106	1,239	17,850	SH		SOLE		0	0	17,850
SPARTANNASH CO	COM	847215100	553	32,155	SH		SOLE		0	0	32,155
KRATON CORPORATION	COM	50077C106	522	10,950	SH		SOLE		0	0	10,950
BLUCORA INC	COM	095229100	276	11,200	SH		SOLE		0	0	11,200
AT&T INC	COM	00206R102	702	19,701	SH		SOLE		0	0	19,701
BORGWARNER INC	COM	099724106	352	7,000	SH		SOLE		0	0	7,000
ENDO INTL PLC	SHS	G30401106	240	40,325	SH		SOLE		0	0	40,325
VISTA OUTDOOR INC	COM	928377100	730	44,700	SH		SOLE		0	0	44,700
GAIN CAP HLDGS INC	COM	36268W100	95	14,100	SH		SOLE		0	0	14,100
ENEL GENERACION CHILE S A	SPONSORED ADR	29244T101	466	19,600	SH		SOLE		0	0	19,600
AMAZON COM INC	COM	023135106	236	163	SH		SOLE		0	0	163
TITAN INTL INC ILL	COM	88830M102	550	43,650	SH		SOLE		0	0	43,650
ROCKY BRANDS INC	COM	774515100	500	23,300	SH		SOLE		0	0	23,300
TELEFONICA S A	SPONSORED ADR	879382208	927	93,891	SH		SOLE		0	0	93,891
APPLE INC	COM	037833100	475	2,833	SH		SOLE		0	0	2,833
RYDEX ETF TRUST	GUG S&P500 PU GR	78355W403	447	4,069	SH		SOLE		0	0	4,069
GNC HLDGS INC	COM CL A	36191G107	57	14,850	SH		SOLE		0	0	14,850
QUALCOMM INC	COM	747525103	257	4,643	SH		SOLE		0	0	4,643
FLUOR CORP NEW	COM	343412102	1,003	17,525	SH		SOLE		0	0	17,525
WESTLAKE CHEM CORP	COM	960413102	556	5,000	SH		SOLE		0	0	5,000
NOVO-NORDISK A S	ADR	670100205	443	9,000	SH		SOLE		0	0	9,000
MATTEL INC	COM	577081102	571	43,400	SH		SOLE		0	0	43,400
NEW YORK TIMES CO	CL A	650111107	225	9,350	SH		SOLE		0	0	9,350
JOHNSON CTLS INTL PLC	SHS	G51502105	206	5,849	SH		SOLE		0	0	5,849
FTD COS INC	COM	30281V108	132	36,350	SH		SOLE		0	0	36,350
PIER 1 IMPORTS INC	COM	720279108	49	15,100	SH		SOLE		0	0	15,100
GREIF INC	CL A	397624107	912	17,450	SH		SOLE		0	0	17,450
DELTA AIR LINES INC DEL	COM NEW	247361702	737	13,441	SH		SOLE		0	0	13,441
DIPLOMAT PHARMACY INC	COM	25456K101	1,893	93,950	SH		SOLE		0	0	93,950
BRIGGS & STRATTON CORP	COM	109043109	395	18,450	SH		SOLE		0	0	18,450
MARCUS & MILLICHAP INC	COM	566324109	669	18,550	SH		SOLE		0	0	18,550
CANADIAN NAT RES LTD	COM	136385101	410	13,026	SH		SOLE		0	0	13,026
SUNTRUST BKS INC	COM	867914103	238	3,500	SH		SOLE		0	0	3,500
AECOM	COM	00766T100	621	17,426	SH		SOLE		0	0	17,426
MDU RES GROUP INC	COM	552690109	630	22,375	SH		SOLE		0	0	22,375
SCHWAB STRATEGIC TR	US SML CAP ETF	808524607	445	6,433	SH		SOLE		0	0	6,433
ARCHER DANIELS MIDLAND CO	COM	039483102	411	9,482	SH		SOLE		0	0	9,482
CA INC	COM	12673P105	321	9,475	SH		SOLE		0	0	9,475
KOPPERS HOLDINGS INC	COM	50060P106	773	18,800	SH		SOLE		0	0	18,800
GAP INC DEL	COM	364760108	284	9,100	SH		SOLE		0	0	9,100
NABORS INDUSTRIES LTD	SHS	G6359F103	371	53,049	SH		SOLE		0	0	53,049
WALMART INC	COM	931142103	542	6,096	SH		SOLE		0	0	6,096
KNOWLES CORP	COM	49926D109	178	14,100	SH		SOLE		0	0	14,100
MYLAN N V	SHS EURO	N59465109	294	7,150	SH		SOLE		0	0	7,150
INTEL CORP	COM	458140100	2,085	40,034	SH		SOLE		0	0	40,034
TIME WARNER INC	COM NEW	887317303	391	4,134	SH		SOLE		0	0	4,134
JANUS HENDERSON GROUP PLC	ORD SHS	G4474Y214	352	10,655	SH		SOLE		0	0	10,655
LSC COMMUNICATIONS INC	COM	50218P107	864	49,510	SH		SOLE		0	0	49,510
GATX CORP	COM	361448103	257	3,750	SH		SOLE		0	0	3,750
SHAW COMMUNICATIONS INC	CL B CONV	82028K200	330	17,125	SH		SOLE		0	0	17,125
FREEPORT-MCMORAN INC	CL B	35671D857	202	11,500	SH		SOLE		0	0	11,500
RENT A CTR INC NEW	COM	76009N100	415	48,075	SH		SOLE		0	0	48,075
SCHLUMBERGER LTD	COM	806857108	692	10,678	SH		SOLE		0	0	10,678
JUNIPER NETWORKS INC	COM	48203R104	380	15,600	SH		SOLE		0	0	15,600
LEE ENTERPRISES INC	COM	523768109	22	11,100	SH		SOLE		0	0	11,100
FITBIT INC	CL A	33812L102	90	17,700	SH		SOLE		0	0	17,700
PBF ENERGY INC	CL A	69318G106	476	14,050	SH		SOLE		0	0	14,050
COMCAST CORP NEW	CL A	20030N101	367	10,750	SH		SOLE		0	0	10,750
VEON LTD	SPONSORED ADR	91822M106	30	11,500	SH		SOLE		0	0	11,500
SUPERIOR INDS INTL INC	COM	868168105	267	20,100	SH		SOLE		0	0	20,100
HUANENG PWR INTL INC	SPON ADR H SHS	443304100	741	27,590	SH		SOLE		0	0	27,590
PATTERSON UTI ENERGY INC	COM	703481101	470	26,825	SH		SOLE		0	0	26,825
KINDRED HEALTHCARE INC	COM	494580103	220	24,040	SH		SOLE		0	0	24,040
INTEGER HLDGS CORP	COM	45826H109	927	16,400	SH		SOLE		0	0	16,400
AMERICAN INTL GROUP INC	COM NEW	026874784	233	4,290	SH		SOLE		0	0	4,290
MOSAIC CO NEW	COM	61945C103	1,291	53,175	SH		SOLE		0	0	53,175
CISCO SYS INC	COM	17275R102	978	22,813	SH		SOLE		0	0	22,813
GRUPO TELEVISA SA	SPON ADR REP ORD	40049J206	495	31,025	SH		SOLE		0	0	31,025
PENSKE AUTOMOTIVE GRP INC	COM	70959W103	237	5,350	SH		SOLE		0	0	5,350
MOVADO GROUP INC	COM	624580106	676	17,600	SH		SOLE		0	0	17,600
JPMORGAN CHASE & CO	COM	46625H100	350	3,183	SH		SOLE		0	0	3,183
COTY INC	COM CL A	222070203	425	23,200	SH		SOLE		0	0	23,200
WESCO AIRCRAFT HLDGS INC	COM	950814103	887	86,500	SH		SOLE		0	0	86,500
CORNING INC	COM	219350105	525	18,840	SH		SOLE		0	0	18,840
ENNIS INC	COM	293389102	213	10,800	SH		SOLE		0	0	10,800
BB&T CORP	COM	054937107	1,268	24,362	SH		SOLE		0	0	24,362
MOBILE TELESYSTEMS PJSC	SPONSORED ADR	607409109	344	30,175	SH		SOLE		0	0	30,175
COCA COLA FEMSA S A B DE C V	SPON ADR REP L	191241108	219	3,300	SH		SOLE		0	0	3,300
SRC ENERGY INC	COM	78470V108	175	18,600	SH		SOLE		0	0	18,600
QUANTA SVCS INC	COM	74762E102	275	8,000	SH		SOLE		0	0	8,000
TRUEBLUE INC	COM	89785X101	334	12,900	SH		SOLE		0	0	12,900
ENI S P A	SPONSORED ADR	26874R108	431	12,200	SH		SOLE		0	0	12,200
POWERSHARES ETF TR II	S&P500 LOW VOL	73937B779	449	9,552	SH		SOLE		0	0	9,552
CHICAGO BRIDGE & IRON CO N V	COM	167250109	154	10,700	SH		SOLE		0	0	10,700
MODINE MFG CO	COM	607828100	362	17,100	SH		SOLE		0	0	17,100
AMERICAN VANGUARD CORP	COM	030371108	691	34,225	SH		SOLE		0	0	34,225
EATON CORP PLC	SHS	G29183103	356	4,450	SH		SOLE		0	0	4,450
SANOFI	SPONSORED ADR	80105N105	1,232	30,733	SH		SOLE		0	0	30,733
KULICKE & SOFFA INDS INC	COM	501242101	388	15,500	SH		SOLE		0	0	15,500
WESTROCK CO	COM	96145D105	350	5,458	SH		SOLE		0	0	5,458
CONDUENT INC	COM	206787103	374	20,089	SH		SOLE		0	0	20,089
HARSCO CORP	COM	415864107	1,228	59,475	SH		SOLE		0	0	59,475
WOLVERINE WORLD WIDE INC	COM	978097103	283	9,800	SH		SOLE		0	0	9,800
ENTERGY CORP NEW	COM	29364G103	225	2,850	SH		SOLE		0	0	2,850
CIT GROUP INC	COM NEW	125581801	373	7,250	SH		SOLE		0	0	7,250
HOLLYFRONTIER CORP	COM	436106108	386	7,900	SH		SOLE		0	0	7,900
WILLIAMS SONOMA INC	COM	969904101	429	8,125	SH		SOLE		0	0	8,125
WPP PLC NEW	ADR	92937A102	819	10,300	SH		SOLE		0	0	10,300
ROWAN COMPANIES PLC	SHS CL A	G7665A101	142	12,300	SH		SOLE		0	0	12,300
ROYAL DUTCH SHELL PLC	SPONS ADR A	780259206	403	6,321	SH		SOLE		0	0	6,321
KEMET CORP	COM NEW	488360207	322	17,753	SH		SOLE		0	0	17,753
XEROX CORP	COM NEW	984121608	725	25,194	SH		SOLE		0	0	25,194
OPPENHEIMER ETF TR	MID CAP REV ETF	68386C203	436	7,399	SH		SOLE		0	0	7,399
STATOIL ASA	SPONSORED ADR	85771P102	1,178	49,800	SH		SOLE		0	0	49,800
PATTERSON COMPANIES INC	COM	703395103	632	28,450	SH		SOLE		0	0	28,450
BRADY CORP	CL A	104674106	604	16,250	SH		SOLE		0	0	16,250
LIMELIGHT NETWORKS INC	COM	53261M104	112	27,358	SH		SOLE		0	0	27,358
SYNAPTICS INC	COM	87157D109	389	8,500	SH		SOLE		0	0	8,500
QUALITY SYS INC	COM	747582104	561	41,075	SH		SOLE		0	0	41,075
TAPESTRY INC	COM	876030107	316	6,000	SH		SOLE		0	0	6,000
NUANCE COMMUNICATIONS INC	COM	67020Y100	443	28,150	SH		SOLE		0	0	28,150
NRG ENERGY INC	COM NEW	629377508	1,195	39,130	SH		SOLE		0	0	39,130
GLATFELTER	COM	377316104	582	28,350	SH		SOLE		0	0	28,350
TELEPHONE & DATA SYS INC	COM NEW	879433829	343	12,250	SH		SOLE		0	0	12,250
SONIC AUTOMOTIVE INC	CL A	83545G102	844	44,525	SH		SOLE		0	0	44,525
DESTINATION MATERNITY CORP	COM	25065D100	36	14,025	SH		SOLE		0	0	14,025
STANTEC INC	COM	85472N109	449	18,200	SH		SOLE		0	0	18,200
KENNAMETAL INC	COM	489170100	754	18,775	SH		SOLE		0	0	18,775
TRIMAS CORP	COM NEW	896215209	444	16,925	SH		SOLE		0	0	16,925
ALLSCRIPTS HEALTHCARE SOLUTN	COM	01988P108	393	31,825	SH		SOLE		0	0	31,825
G-III APPAREL GROUP LTD	COM	36237H101	696	18,475	SH		SOLE		0	0	18,475
AVNET INC	COM	053807103	799	19,125	SH		SOLE		0	0	19,125
CF INDS HLDGS INC	COM	125269100	1,342	35,575	SH		SOLE		0	0	35,575
AAR CORP	COM	000361105	377	8,550	SH		SOLE		0	0	8,550
SELECT MED HLDGS CORP	COM	81619Q105	539	31,225	SH		SOLE		0	0	31,225
PPL CORP	COM	69351T106	703	24,850	SH		SOLE		0	0	24,850
GILEAD SCIENCES INC	COM	375558103	358	4,750	SH		SOLE		0	0	4,750
PHIBRO ANIMAL HEALTH CORP	CL A COM	71742Q106	513	12,925	SH		SOLE		0	0	12,925
CHINA MOBILE LIMITED	SPONSORED ADR	16941M109	255	5,565	SH		SOLE		0	0	5,565
TRIUMPH GROUP INC NEW	COM	896818101	947	37,575	SH		SOLE		0	0	37,575
ACTUANT CORP	CL A NEW	00508X203	1,034	44,475	SH		SOLE		0	0	44,475
GENERAL CABLE CORP DEL NEW	COM	369300108	1,204	40,665	SH		SOLE		0	0	40,665
CECO ENVIRONMENTAL CORP	COM	125141101	780	175,300	SH		SOLE		0	0	175,300
A H BELO CORP	COM CL A	001282102	55	10,660	SH		SOLE		0	0	10,660
FUTUREFUEL CORPORATION	COM	36116M106	189	15,800	SH		SOLE		0	0	15,800
CAMECO CORP	COM	13321L108	584	64,300	SH		SOLE		0	0	64,300
VODAFONE GROUP PLC NEW	SPONSORED ADR	92857W308	924	33,207	SH		SOLE		0	0	33,207
NTT DOCOMO INC	SPONS ADR	62942M201	353	13,800	SH		SOLE		0	0	13,800
OFFICE DEPOT INC	COM	676220106	33	15,200	SH		SOLE		0	0	15,200
MAIDEN HOLDINGS LTD	SHS	G5753U112	101	15,606	SH		SOLE		0	0	15,606
OLIN CORP	COM PAR $1	680665205	539	17,750	SH		SOLE		0	0	17,750
AKORN INC	COM	009728106	453	24,200	SH		SOLE		0	0	24,200
EXELON CORP	COM	30161N101	577	14,788	SH		SOLE		0	0	14,788
TELECOM ITALIA S P A NEW	SPON ADR ORD	87927Y102	97	10,100	SH		SOLE		0	0	10,100
COSAN LTD	SHS A	G25343107	189	18,200	SH		SOLE		0	0	18,200
REXNORD CORP NEW	COM	76169B102	306	10,300	SH		SOLE		0	0	10,300
ENVISION HEALTHCARE CORP	COM	29414D100	376	9,783	SH		SOLE		0	0	9,783
LIBBEY INC	COM	529898108	229	46,850	SH		SOLE		0	0	46,850
BARCLAYS PLC	ADR	06738E204	403	34,098	SH		SOLE		0	0	34,098
CITIGROUP INC	COM NEW	172967424	711	10,535	SH		SOLE		0	0	10,535
UNUM GROUP	COM	91529Y106	309	6,500	SH		SOLE		0	0	6,500
PILGRIMS PRIDE CORP NEW	COM	72147K108	621	25,250	SH		SOLE		0	0	25,250
DOWDUPONT INC	COM	26078J100	450	7,066	SH		SOLE		0	0	7,066
COMMUNITY HEALTH SYS INC NEW	COM	203668108	56	14,086	SH		SOLE		0	0	14,086
GLAXOSMITHKLINE PLC	SPONSORED ADR	37733W105	686	17,547	SH		SOLE		0	0	17,547
GOLDCORP INC NEW	COM	380956409	710	51,350	SH		SOLE		0	0	51,350
COTT CORP QUE	COM	22163N106	299	20,300	SH		SOLE		0	0	20,300
MAGNACHIP SEMICONDUCTOR CORP	COM	55933J203	226	23,500	SH		SOLE		0	0	23,500
INTL PAPER CO	COM	460146103	1,061	19,860	SH		SOLE		0	0	19,860
BRF SA	SPONSORED ADR	10552T107	604	87,325	SH		SOLE		0	0	87,325
RYDEX ETF TRUST	GUG S&P SC600 PG	78355W809	445	3,864	SH		SOLE		0	0	3,864
PENTAIR PLC	SHS	G7S00T104	254	3,723	SH		SOLE		0	0	3,723
WHEATON PRECIOUS METALS CORP	COM	962879102	830	40,725	SH		SOLE		0	0	40,725
YAMANA GOLD INC	COM	98462Y100	84	30,400	SH		SOLE		0	0	30,400
ACCO BRANDS CORP	COM	00081T108	403	32,143	SH		SOLE		0	0	32,143
KELLY SVCS INC	CL A	488152208	1,522	52,400	SH		SOLE		0	0	52,400
DANA INCORPORATED	COM	235825205	375	14,575	SH		SOLE		0	0	14,575
ANDERSONS INC	COM	034164103	987	29,825	SH		SOLE		0	0	29,825
HOME DEPOT INC	COM	437076102	258	1,450	SH		SOLE		0	0	1,450
PRIMORIS SVCS CORP	COM	74164F103	380	15,200	SH		SOLE		0	0	15,200
KOHLS CORP	COM	500255104	1,431	21,850	SH		SOLE		0	0	21,850
FIRSTENERGY CORP	COM	337932107	850	24,994	SH		SOLE		0	0	24,994
METLIFE INC	COM	59156R108	203	4,425	SH		SOLE		0	0	4,425
SUNCOR ENERGY INC NEW	COM	867224107	711	20,575	SH		SOLE		0	0	20,575
NATURAL GROCERS BY VITAMIN C	COM	63888U108	100	13,900	SH		SOLE		0	0	13,900
NEWELL BRANDS INC	COM	651229106	579	22,720	SH		SOLE		0	0	22,720
VOLT INFORMATION SCIENCES IN	COM	928703107	55	18,050	SH		SOLE		0	0	18,050
FORD MTR CO DEL	COM PAR $0.01	345370860	163	14,693	SH		SOLE		0	0	14,693
TEGNA INC	COM	87901J105	196	17,175	SH		SOLE		0	0	17,175
SCANA CORP NEW	COM	80589M102	454	12,100	SH		SOLE		0	0	12,100
MASTEC INC	COM	576323109	298	6,325	SH		SOLE		0	0	6,325
VERIZON COMMUNICATIONS INC	COM	92343V104	493	10,309	SH		SOLE		0	0	10,309
LOEWS CORP	COM	540424108	591	11,875	SH		SOLE		0	0	11,875
ENSCO PLC	SHS CLASS A	G3157S106	95	21,580	SH		SOLE		0	0	21,580
COMPANIA CERVECERIAS UNIDAS	SPONSORED ADR	204429104	1,290	43,875	SH		SOLE		0	0	43,875
LOCKHEED MARTIN CORP	COM	539830109	792	2,344	SH		SOLE		0	0	2,344
WELLS FARGO CO NEW	COM	949746101	251	4,795	SH		SOLE		0	0	4,795
SOUTHERN CO	COM	842587107	782	17,512	SH		SOLE		0	0	17,512
INTERNATIONAL BUSINESS MACHS	COM	459200101	464	3,025	SH		SOLE		0	0	3,025
BANK N S HALIFAX	COM	064149107	216	3,500	SH		SOLE		0	0	3,500
INTERNATIONAL GAME TECHNOLOG	SHS USD	G4863A108	210	7,849	SH		SOLE		0	0	7,849
B & G FOODS INC NEW	COM	05508R106	541	22,825	SH		SOLE		0	0	22,825
CHRISTOPHER & BANKS CORP	COM	171046105	14	13,100	SH		SOLE		0	0	13,100
BANCO SANTANDER S A	SPONSORED ADR B	05969B103	775	108,150	SH		SOLE		0	0	108,150
CREDIT SUISSE GROUP	SPONSORED ADR	225401108	196	11,676	SH		SOLE		0	0	11,676
HONDA MOTOR LTD	AMERN SHS	438128308	1,281	36,875	SH		SOLE		0	0	36,875
MICHAELS COS INC	COM	59408Q106	343	17,400	SH		SOLE		0	0	17,400
NOMAD FOODS LTD	USD ORD SHS	G6564A105	208	13,200	SH		SOLE		0	0	13,200
SALLY BEAUTY HLDGS INC	COM	79546E104	336	20,425	SH		SOLE		0	0	20,425
KBR INC	COM	48242W106	697	43,075	SH		SOLE		0	0	43,075
LIQUIDITY SERVICES INC	COM	53635B107	255	39,225	SH		SOLE		0	0	39,225
SYNTEL INC	COM	87162H103	540	21,150	SH		SOLE		0	0	21,150
MERCK & CO INC	COM	58933Y105	755	13,857	SH		SOLE		0	0	13,857
NORDSTROM INC	COM	655664100	235	4,850	SH		SOLE		0	0	4,850
SYNCHRONOSS TECHNOLOGIES INC	COM	87157B103	127	12,000	SH		SOLE		0	0	12,000
MICROSOFT CORP	COM	594918104	1,308	14,329	SH		SOLE		0	0	14,329
DEAN FOODS CO NEW	COM NEW	242370203	911	105,676	SH		SOLE		0	0	105,676
ORCHIDS PAPER PRODS CO DEL	COM	68572N104	110	13,550	SH		SOLE		0	0	13,550
BT GROUP PLC	ADR	05577E101	1,119	69,225	SH		SOLE		0	0	69,225
ABB LTD	SPONSORED ADR	000375204	862	36,300	SH		SOLE		0	0	36,300
VERIFONE SYS INC	COM	92342Y109	449	29,225	SH		SOLE		0	0	29,225
CHINA UNICOM (HONG KONG) LTD	SPONSORED ADR	16945R104	629	49,000	SH		SOLE		0	0	49,000
SCHNITZER STL INDS	CL A	806882106	408	12,600	SH		SOLE		0	0	12,600
RIO TINTO PLC	SPONSORED ADR	767204100	685	13,300	SH		SOLE		0	0	13,300
MUELLER INDS INC	COM	624756102	808	30,900	SH		SOLE		0	0	30,900
MARINEMAX INC	COM	567908108	797	40,975	SH		SOLE		0	0	40,975
SPEEDWAY MOTORSPORTS INC	COM	847788106	266	14,950	SH		SOLE		0	0	14,950
TRONOX LTD	SHS CL A	Q9235V101	312	16,900	SH		SOLE		0	0	16,900
JABIL INC	COM	466313103	1,465	51,008	SH		SOLE		0	0	51,008
INTERFACE INC	COM	458665304	262	10,400	SH		SOLE		0	0	10,400
NATIONAL GRID PLC	SPONSORED ADR NE	636274409	732	12,966	SH		SOLE		0	0	12,966
BRISTOW GROUP INC	COM	110394103	186	14,300	SH		SOLE		0	0	14,300
CLEVELAND CLIFFS INC	COM	185899101	75	10,750	SH		SOLE		0	0	10,750
ARRIS INTL INC	SHS	G0551A103	520	19,575	SH		SOLE		0	0	19,575
CROCS INC	COM	227046109	325	20,025	SH		SOLE		0	0	20,025
PRECISION DRILLING CORP	COM 2010	74022D308	73	26,500	SH		SOLE		0	0	26,500
HUNTSMAN CORP	COM	447011107	273	9,350	SH		SOLE		0	0	9,350
NOVARTIS A G	SPONSORED ADR	66987V109	293	3,624	SH		SOLE		0	0	3,624
TREDEGAR CORP	COM	894650100	210	11,700	SH		SOLE		0	0	11,700
BARRICK GOLD CORP	COM	067901108	289	23,175	SH		SOLE		0	0	23,175
SPRINT CORP	COM SER 1	85207U105	66	13,600	SH		SOLE		0	0	13,600
STMICROELECTRONICS N V	NY REGISTRY	861012102	266	11,950	SH		SOLE		0	0	11,950
GUESS INC	COM	401617105	870	41,952	SH		SOLE		0	0	41,952
STEELCASE INC	CL A	858155203	203	14,900	SH		SOLE		0	0	14,900
CELESTICA INC	SUB VTG SHS	15101Q108	136	13,100	SH		SOLE		0	0	13,100
TIVO CORP	COM	88870P106	715	52,775	SH		SOLE		0	0	52,775
MACYS INC	COM	55616P104	1,244	41,839	SH		SOLE		0	0	41,839
HEWLETT PACKARD ENTERPRISE C	COM	42824C109	292	16,632	SH		SOLE		0	0	16,632
AVON PRODS INC	COM	054303102	76	26,875	SH		SOLE		0	0	26,875
FLEX LTD	ORD	Y2573F102	730	44,700	SH		SOLE		0	0	44,700
ARCBEST CORP	COM	03937C105	346	10,800	SH		SOLE		0	0	10,800
ENCANA CORP	COM	292505104	160	14,575	SH		SOLE		0	0	14,575
OWENS ILL INC	COM NEW	690768403	1,117	51,550	SH		SOLE		0	0	51,550
PITNEY BOWES INC	COM	724479100	299	27,475	SH		SOLE		0	0	27,475
ACETO CORP	COM	004446100	979	128,832	SH		SOLE		0	0	128,832
MARATHON OIL CORP	COM	565849106	215	13,350	SH		SOLE		0	0	13,350
ATLAS AIR WORLDWIDE HLDGS IN	COM NEW	049164205	314	5,200	SH		SOLE		0	0	5,200
LAYNE CHRISTENSEN CO	COM	521050104	536	35,925	SH		SOLE		0	0	35,925
AMERICAN EAGLE OUTFITTERS NE	COM	02553E106	1,499	75,200	SH		SOLE		0	0	75,200
BLOOMIN BRANDS INC	COM	094235108	237	9,750	SH		SOLE		0	0	9,750
ARCONIC INC	COM	03965L100	317	13,769	SH		SOLE		0	0	13,769
COMPUTER TASK GROUP INC	COM	205477102	114	13,975	SH		SOLE		0	0	13,975
EMERSON ELEC CO	COM	291011104	356	5,215	SH		SOLE		0	0	5,215
KROGER CO	COM	501044101	223	9,300	SH		SOLE		0	0	9,300
CELADON GROUP INC	COM	150838100	157	42,500	SH		SOLE		0	0	42,500
FERRO CORP	COM	315405100	374	16,125	SH		SOLE		0	0	16,125
ARCELORMITTAL SA LUXEMBOURG	NY REGISTRY SH	03938L203	264	8,297	SH		SOLE		0	0	8,297
SIGNET JEWELERS LIMITED	SHS	G81276100	744	19,325	SH		SOLE		0	0	19,325
CANON INC	SPONSORED ADR	138006309	970	26,625	SH		SOLE		0	0	26,625
NOMURA HLDGS INC	SPONSORED ADR	65535H208	190	32,500	SH		SOLE		0	0	32,500
ALCOA CORP	COM	013872106	202	4,503	SH		SOLE		0	0	4,503
AMIRA NATURE FOODS LTD	SHS	G0335L102	65	15,550	SH		SOLE		0	0	15,550
HP INC	COM	40434L105	380	17,332	SH		SOLE		0	0	17,332
ASTRAZENECA PLC	SPONSORED ADR	046353108	279	7,966	SH		SOLE		0	0	7,966
TENET HEALTHCARE CORP	COM NEW	88033G407	751	30,975	SH		SOLE		0	0	30,975
ROGERS COMMUNICATIONS INC	CL B	775109200	891	19,950	SH		SOLE		0	0	19,950
LUXFER HOLDINGS PLC	SHS	G5698W116	186	14,500	SH		SOLE		0	0	14,500
MORGAN STANLEY	COM NEW	617446448	768	14,225	SH		SOLE		0	0	14,225
ARCOS DORADOS HOLDINGS INC	SHS CLASS -A -	G0457F107	336	36,750	SH		SOLE		0	0	36,750
BP PLC	SPONSORED ADR	055622104	371	9,150	SH		SOLE		0	0	9,150
BANK AMER CORP	COM	060505104	667	22,249	SH		SOLE		0	0	22,249
AMERICAN AIRLS GROUP INC	COM	02376R102	282	5,432	SH		SOLE		0	0	5,432
TECK RESOURCES LTD	CL B	878742204	712	27,650	SH		SOLE		0	0	27,650
NUTRIEN LTD	COM	67077M108	1,238	26,205	SH		SOLE		0	0	26,205
TITAN MACHY INC	COM	88830R101	1,199	50,890	SH		SOLE		0	0	50,890
BIG 5 SPORTING GOODS CORP	COM	08915P101	167	23,095	SH		SOLE		0	0	23,095
TERNIUM SA	SPON ADR	880890108	211	6,500	SH		SOLE		0	0	6,500
ACACIA RESH CORP	ACACIA TCH COM	003881307	78	22,200	SH		SOLE		0	0	22,200
TRINITY INDS INC	COM	896522109	295	9,050	SH		SOLE		0	0	9,050
REALOGY HLDGS CORP	COM	75605Y106	575	21,075	SH		SOLE		0	0	21,075
FOSSIL GROUP INC	COM	34988V106	137	10,800	SH		SOLE		0	0	10,800
AES CORP	COM	00130H105	697	61,300	SH		SOLE		0	0	61,300
CHART INDS INC	COM PAR $0.01	16115Q308	950	16,100	SH		SOLE		0	0	16,100
ENTERCOM COMMUNICATIONS CORP	CL A	293639100	327	33,850	SH		SOLE		0	0	33,850
FREDS INC	CL A	356108100	168	56,175	SH		SOLE		0	0	56,175
FINISH LINE INC	CL A	317923100	274	20,250	SH		SOLE		0	0	20,250
KIMBALL INTL INC	CL B	494274103	204	12,000	SH		SOLE		0	0	12,000
SYPRIS SOLUTIONS INC	COM	871655106	25	15,287	SH		SOLE		0	0	15,287
ASCENA RETAIL GROUP INC	COM	04351G101	44	22,000	SH		SOLE		0	0	22,000
MICHAEL KORS HLDGS LTD	SHS	G60754101	1,760	28,345	SH		SOLE		0	0	28,345
LEUCADIA NATL CORP	COM	527288104	1,140	50,132	SH		SOLE		0	0	50,132
TRANSOCEAN LTD	REG SHS	H8817H100	167	16,862	SH		SOLE		0	0	16,862
NASDAQ INC	COM	631103108	328	3,800	SH		SOLE		0	0	3,800