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
3M COMPANY COMMON 88579Y101 1,164 10,952 SH   SOLE   10,952 0 0
ACE LTD COMMON H0023R105 53,859 605,367 SH   SOLE   605,367 0 0
AMAZON.COM INC COMMON 023135106 3,007 11,285 SH   SOLE   11,285 0 0
AMERICAN CAPITAL COMMON 02503Y103 6,619 453,505 SH   SOLE   453,505 0 0
AMERICAN TOWER REIT (HLDG CO) SH COMMON 03027X100 1,145 14,891 SH   SOLE   14,891 0 0
AMERISAFE COMMON 03071H100 9,952 280,025 SH   SOLE   280,025 0 0
AON CORPORATION COMMON G0408V102 463 7,521 SH   SOLE   7,521 0 0
APPLE INC COMMON 037833100 2,391 5,401 SH   SOLE   5,401 0 0
ARCOS DORADOS HOLDINGS INC COMMON G0457F107 45,429 3,441,602 SH   SOLE   3,441,602 0 0
ARM HOLDINGS ADR COMMON 042068106 42,050 992,453 SH   SOLE   992,453 0 0
ASML HOLDING ADR COMMON N07059210 37,967 558,427 SH   SOLE   558,427 0 0
AUTOMATIC DATA PROCESSING COMMON 053015103 243 3,741 SH   SOLE   3,741 0 0
AVISTA CORP COMMON 05379B107 7,311 266,836 SH   SOLE   266,836 0 0
BARNES GROUP COMMON 067806109 5,300 183,205 SH   SOLE   183,205 0 0
BBCN BANCORP COMMON 073295107 8,526 652,815 SH   SOLE   652,815 0 0
BERKSHIRE HATHAWAY INC CL B COMMON 084670702 518 4,975 SH   SOLE   4,975 0 0
BLUCORA INC COMMON 095229100 13,162 850,282 SH   SOLE   850,282 0 0
BRF SA - ADR COMMON 10552T107 40,825 1,846,441 SH   SOLE   1,846,441 0 0
BRINKER INTERNATIONAL INC COMMON 109641100 13,547 359,808 SH   SOLE   359,808 0 0
BRISTOL-MYERS SQUIBB CO COMMON 110122108 322 7,809 SH   SOLE   7,809 0 0
BROOKS AUTOMATION COMMON 114340102 5,265 517,202 SH   SOLE   517,202 0 0
CABELA`S INC COMMON 126804301 10,380 170,786 SH   SOLE   170,786 0 0
CAL MAINE FOODS COMMON 128030202 6,773 159,139 SH   SOLE   159,139 0 0
CANADIAN NATIONAL RAILWAY COMMON 136375102 48,262 481,174 SH   SOLE   481,174 0 0
CBL & ASSOCIATES PROPERTIES COMMON 124830100 16,078 681,280 SH   SOLE   681,280 0 0
CELESTICA COMMON 15101Q108 4,594 567,833 SH   SOLE   567,833 0 0
CELGENE CORP COMMON 151020104 1,496 12,907 SH   SOLE   12,907 0 0
CHEVRON COMMON 166764100 1,004 8,446 SH   SOLE   8,446 0 0
CNO FINANCIAL GROUP INC COMMON 12621E103 15,107 1,319,403 SH   SOLE   1,319,403 0 0
COCA-COLA COMPANY COMMON 191216100 409 10,120 SH   SOLE   10,120 0 0
COCA-COLA ENTERPRISES COMMON 19122T109 57,787 1,565,197 SH   SOLE   1,565,197 0 0
COGNEX CORP COMMON 192422103 15,615 370,453 SH   SOLE   370,453 0 0
COLGATE-PALMOLIVE COMPANY COMMON 194162103 233 1,977 SH   SOLE   1,977 0 0
CORE LABORATORIES N.V. COMMON N22717107 58,552 424,534 SH   SOLE   424,534 0 0
CORPORATE EXECUTIVE BOARD CO COMMON 21988R102 11,797 202,839 SH   SOLE   202,839 0 0
COSTCO WHOLESALE CORP COMMON 22160K105 418 3,940 SH   SOLE   3,940 0 0
COTT CORPORATION COMMON 22163N106 6,694 661,432 SH   SOLE   661,432 0 0
COVIDIEN LTD COMMON G2554F113 47,631 702,112 SH   SOLE   702,112 0 0
CUBIC CORP COMMON 229669106 6,627 155,120 SH   SOLE   155,120 0 0
CVB FINANCIAL COMMON 126600105 12,121 1,075,537 SH   SOLE   1,075,537 0 0
DISH NETWORK COMMON 25470M109 214 5,650 SH   SOLE   5,650 0 0
DISNEY (WALT) COMMON 254687106 385 6,778 SH   SOLE   6,778 0 0
DOUGLAS EMMETT COMMON 25960P109 9,234 370,398 SH   SOLE   370,398 0 0
EAST WEST BANCORP COMMON 27579R104 14,110 549,685 SH   SOLE   549,685 0 0
EBAY INC COMMON 278642103 1,130 20,832 SH   SOLE   20,832 0 0
EMC CORPORATION COMMON 268648102 964 40,343 SH   SOLE   40,343 0 0
EMERSON ELECTRIC COMPANY COMMON 291011104 353 6,321 SH   SOLE   6,321 0 0
EXXON MOBIL CORPORATION COMMON 30231G102 733 8,140 SH   SOLE   8,140 0 0
FANUC CORPORATION COMMON 307305102 14,352 558,234 SH   SOLE   558,234 0 0
FOOT LOCKER INC COMMON 344849104 7,256 211,908 SH   SOLE   211,908 0 0
FREIGHTCAR AMERICA COMMON 357023100 1,603 73,484 SH   SOLE   73,484 0 0
GATX CORP COMMON 361448103 11,176 215,045 SH   SOLE   215,045 0 0
GENERAL ELECTRIC COMPANY COMMON 369604103 734 31,754 SH   SOLE   31,754 0 0
GENERAL MILLS COMMON 370334104 347 7,043 SH   SOLE   7,043 0 0
GENWORTH FINANCIAL COMMON 37247D106 7,896 789,553 SH   SOLE   789,553 0 0
GLACIER BANCORP COMMON 37637Q105 6,988 368,152 SH   SOLE   368,152 0 0
GLOBAL INDEMNITY PLC COMMON G39319101 4,236 182,586 SH   SOLE   182,586 0 0
GROUP 1 AUTOMOTIVE INC COMMON 398905109 11,454 190,675 SH   SOLE   190,675 0 0
GRUPO TELEVISA SA COMMON 40049J206 210 7,903 SH   SOLE   7,903 0 0
HELEN OF TROY LTD COMMON G4388N106 8,669 225,988 SH   SOLE   225,988 0 0
HI-TECH PHARM COMMON 42840B101 4,999 150,987 SH   SOLE   150,987 0 0
HOME DEPOT INC COMMON 437076102 680 9,750 SH   SOLE   9,750 0 0
HORNBECK OFFSHORE SERVICES COMMON 440543106 19,324 415,934 SH   SOLE   415,934 0 0
IMMUNOMEDICS COMMON 452907108 1,177 488,550 SH   SOLE   488,550 0 0
INDITEX-UNSPON ADR COMMON 455793109 6,452 243,130 SH   SOLE   243,130 0 0
INSIGHT ENTERPRISES COMMON 45765U103 6,614 320,774 SH   SOLE   320,774 0 0
INTEL CORP COMMON 458140100 336 15,393 SH   SOLE   15,393 0 0
JERONIMO MARTINS SGPS SA - ADR COMMON 476493101 7,108 181,613 SH   SOLE   181,613 0 0
JOHNSON & JOHNSON COMMON 478160104 523 6,410 SH   SOLE   6,410 0 0
KADANT INC COMMON 48282T104 4,292 171,660 SH   SOLE   171,660 0 0
KUEHNE & NAGEL INTERNATIONAL AG COMMON 501187108 6,202 283,069 SH   SOLE   283,069 0 0
L`OREAL - UNSPONS ADR COMMON 502117203 20,124 635,819 SH   SOLE   635,819 0 0
LACLEDE GROUP INC COMMON 505597104 10,741 251,538 SH   SOLE   251,538 0 0
LAZARD LTD-CL A COMMON G54050102 40,139 1,176,057 SH   SOLE   1,176,057 0 0
LINDSAY CORPORATION COMMON 535555106 8,794 99,725 SH   SOLE   99,725 0 0
LVMH MOET HENNESSY-UNSP ADR COMMON 502441306 10,182 297,189 SH   SOLE   297,189 0 0
MCCLATCHY COMPANY (THE) COMMON 579489105 3,153 1,087,215 SH   SOLE   1,087,215 0 0
MCDONALD`S CORP COMMON 580135101 349 3,506 SH   SOLE   3,506 0 0
MEDCATH CORP COMMON 58404W109 408 285,154 SH   SOLE   285,154 0 0
MERCADOLIBRE INC COMMON 58733R102 1,009 10,447 SH   SOLE   10,447 0 0
MERITAGE HOMES CORP COMMON 59001A102 9,530 203,367 SH   SOLE   203,367 0 0
MONSANTO CO COMMON 61166W101 1,975 18,697 SH   SOLE   18,697 0 0
MONTPELIER RE HOLDINGS LTD COMMON G62185106 11,243 431,585 SH   SOLE   431,585 0 0
MOOG INC-CLASS A COMMON 615394202 5,283 115,271 SH   SOLE   115,271 0 0
MTS SYSTEMS CORP COMMON 553777103 210 3,615 SH   SOLE   3,615 0 0
NATIONAL OILWELL VARCO INC COMMON 637071101 1,798 25,408 SH   SOLE   25,408 0 0
NESTLE SA - SPONS ADR FOR REG COMMON 641069406 21,813 300,994 SH   SOLE   300,994 0 0
NEWPORT CORP COMMON 651824104 4,905 289,920 SH   SOLE   289,920 0 0
NIKE INC B COMMON 654106103 923 15,638 SH   SOLE   15,638 0 0
NOVO-NORDISK A/S-SPONS ADR COMMON 670100205 34,888 216,025 SH   SOLE   216,025 0 0
NOVOZYMES A/S - ADR COMMON 670108109 19,325 569,220 SH   SOLE   569,220 0 0
OLIN CORP COMMON 680665205 4,504 178,590 SH   SOLE   178,590 0 0
PAYCHEX INC COMMON 704326107 268 7,649 SH   SOLE   7,649 0 0
PEPSICO INC COMMON 713448108 331 4,188 SH   SOLE   4,188 0 0
PERRIGO CO COMMON 714290103 855 7,199 SH   SOLE   7,199 0 0
PFIZER INC COMMON 717081103 1,126 39,023 SH   SOLE   39,023 0 0
PHILIP MORRIS INTL COMMON 718172109 983 10,604 SH   SOLE   10,604 0 0
POPULAR INC COMMON 733174700 5,378 194,865 SH   SOLE   194,865 0 0
PORTLAND GENERAL ELECTRIC COMMON 736508847 5,150 169,800 SH   SOLE   169,800 0 0
POTASH CORP OF SASKATCHEWAN COMMON 73755L107 46,886 1,194,559 SH   SOLE   1,194,559 0 0
PRICESMART INC COMMON 741511109 939 12,059 SH   SOLE   12,059 0 0
PROASSURANCE CORP COMMON 74267C106 9,902 209,202 SH   SOLE   209,202 0 0
PROCTER & GAMBLE CO COMMON 742718109 519 6,732 SH   SOLE   6,732 0 0
REDWOOD TRUST COMMON 758075402 7,666 330,705 SH   SOLE   330,705 0 0
REGAL-BELOIT COMMON 758750103 13,894 170,349 SH   SOLE   170,349 0 0
RPC INC COMMON 749660106 210 13,862 SH   SOLE   13,862 0 0
SAFETY INSURANCE GROUP INC COMMON 78648T100 6,599 134,232 SH   SOLE   134,232 0 0
SAIA COMMON 78709Y105 7,381 204,075 SH   SOLE   204,075 0 0
SAUER-DANFOSS COMMON 804137107 222 3,800 SH   SOLE   3,800 0 0
SCHWAB (CHARLES) CORP COMMON 808513105 282 15,915 SH   SOLE   15,915 0 0
SENSIENT TECHNOLOGIES COMMON 81725T100 4,671 119,495 SH   SOLE   119,495 0 0
SGS SA - ADR COMMON 818800104 23,224 944,466 SH   SOLE   944,466 0 0
SHANDONG WEIGAO GP ADR COMMON 81941W101 5,508 1,505,005 SH   SOLE   1,505,005 0 0
SHFL ENTERTAINMENT COMMON 78423R105 7,870 474,940 SH   SOLE   474,940 0 0
SHOPRITE HOLDINGS COMMON 82510E100 9,965 251,320 SH   SOLE   251,320 0 0
SNAP-ON INC COMMON 833034101 16,312 197,246 SH   SOLE   197,246 0 0
SPECTRA ENERGY CORP COMMON 847560109 220 7,145 SH   SOLE   7,145 0 0
STARBUCKS CORP COMMON 855244109 202 3,550 SH   SOLE   3,550 0 0
SUSQUEHANNA BANCSHARES COMMON 869099101 8,167 657,015 SH   SOLE   657,015 0 0
SVENSKA CELLULOSA AB-SP ADR COMMON 869587402 12,105 467,719 SH   SOLE   467,719 0 0
SYNTEL INC COMMON 87162H103 236 3,489 SH   SOLE   3,489 0 0
SYSCO CORP COMMON 871829107 327 9,304 SH   SOLE   9,304 0 0
SYSMEX CORP UNSPON ADR COMMON 87184P109 10,252 335,152 SH   SOLE   335,152 0 0
Taiwan Semiconductor Manufacturi COMMON 874039100 66,280 3,855,758 SH   SOLE   3,855,758 0 0
TD AMERITRADE HOLDINGS COMMON 87236Y108 583 28,289 SH   SOLE   28,289 0 0
TENCENT HOLDINGS LTD-UNS ADR COMMON 88032Q109 8,295 259,632 SH   SOLE   259,632 0 0
THE ANDERSONS INC COMMON 034164103 9,398 175,604 SH   SOLE   175,604 0 0
THE DOLAN COMPANY COMMON 25659P402 1,242 519,480 SH   SOLE   519,480 0 0
TITAN MACHINERY COMMON 88830R101 7,221 260,015 SH   SOLE   260,015 0 0
TSINGTAO BREWERY-SPONS ADR COMMON 898529102 925 14,570 SH   SOLE   14,570 0 0
TUESDAY MORNING COMMON 899035505 7,109 916,146 SH   SOLE   916,146 0 0
VAALCO ENERGY COMMON 91851C201 7,710 1,015,855 SH   SOLE   1,015,855 0 0
VALASSIS COMM COMMON 918866104 206 6,882 SH   SOLE   6,882 0 0
VIROPHARMA INC COMMON 928241108 11,621 461,890 SH   SOLE   461,890 0 0
WALMART DE MEXICO-SPON ADR V COMMON 93114W107 14,736 449,961 SH   SOLE   449,961 0 0
WANT WANT CHINA - UNSPON ADR COMMON 93370R107 7,716 99,898 SH   SOLE   99,898 0 0
WELLCARE HEALTH PLANS INC COMMON 94946T106 18,026 311,010 SH   SOLE   311,010 0 0
WELLS FARGO & COMPANY COMMON 949746101 340 9,186 SH   SOLE   9,186 0 0
WERNER ENTERPRISES COMMON 950755108 10,019 415,032 SH   SOLE   415,032 0 0
WESTERN REFINING COMMON 959319104 23,344 659,247 SH   SOLE   659,247 0 0
YUM! BRANDS INC COMMON 988498101 1,912 26,571 SH   SOLE   26,571 0 0