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
Abbott Laboratories COMMON 002824100 5,635 133,239 SH   SOLE   115,571 0 17,669
Aetna COMMON 00817Y108 10,326 89,444 SH   SOLE   76,766 0 12,678
Agrium COMMON 008916108 1,436 15,836 SH   SOLE   14,412 0 1,424
Alaska Air Group COMMON 011659109 784 11,898 SH   SOLE   11,180 0 718
Allianz SE COMMON 018805101 862 58,130 SH   SOLE   55,570 0 2,560
Allstate COMMON 020002101 1,696 24,509 SH   SOLE   23,583 0 926
American Eagle Outfitters COMMON 02553E106 7,016 392,846 SH   SOLE   345,365 0 47,482
American Railcar COMMON 02916P103 2,689 64,836 SH   SOLE   58,391 0 6,445
Amgen Inc COMMON 031162100 9,290 55,692 SH   SOLE   49,079 0 6,613
Anworth Mortgage Asset Corp COMMON 037347101 1,693 344,076 SH   SOLE   318,527 0 25,549
Apple Computer COMMON 037833100 10,195 90,182 SH   SOLE   80,177 0 10,005
Archer-Daniels-Midland COMMON 039483102 7,334 173,926 SH   SOLE   153,530 0 20,396
AT&T Inc COMMON 00206r102 2,183 53,765 SH   SOLE   47,553 0 6,212
AVX Corp COMMON 002444107 1,948 141,237 SH   SOLE   133,126 0 8,111
Axis Capital COMMON G0692U109 5,413 99,630 SH   SOLE   83,740 0 15,889
Baker Hughes COMMON 057224107 4,104 81,306 SH   SOLE   68,979 0 12,327
Bank of America COMMON 060505104 4,090 261,365 SH   SOLE   210,382 0 50,983
Bank of NY Mellon Corp COMMON 064058100 5,761 144,466 SH   SOLE   123,930 0 20,536
Barrick Gold COMMON 067901108 3,206 180,923 SH   SOLE   149,890 0 31,033
BB&T Corporation COMMON 054937107 4,360 115,594 SH   SOLE   101,213 0 14,381
Benchmark Electronics COMMON 08160h101 5,999 240,441 SH   SOLE   211,055 0 29,386
BHP Billiton COMMON 088606108 757 21,849 SH   SOLE   21,132 0 717
Biogen Idec COMMON 09062X103 5,209 16,642 SH   SOLE   14,017 0 2,625
Boeing Co COMMON 097023105 1,304 9,900 SH   SOLE   9,498 0 402
Bristow Group Inc COMMON 110394103 953 67,944 SH   SOLE   54,562 0 13,382
Brocade Communications Systems COMMON 111621306 5,217 565,255 SH   SOLE   484,576 0 80,679
CA Inc COMMON 12673P105 6,683 202,035 SH   SOLE   176,141 0 25,894
Canadian Imperial Bank of Commerce (CIBC) COMMON 136069101 3,427 44,198 SH   SOLE   37,835 0 6,363
Capital One Financial COMMON 14040H105 5,208 72,509 SH   SOLE   62,668 0 9,841
Cardinal Health COMMON 14149Y108 1,204 15,490 SH   SOLE   14,557 0 933
Carnival Corp COMMON 143658300 1,122 22,978 SH   SOLE   22,730 0 248
Caterpillar COMMON 149123101 5,378 60,584 SH   SOLE   53,655 0 6,929
Celanese Corp COMMON 150870103 7,092 106,554 SH   SOLE   92,240 0 14,314
Cisco Systems COMMON 17275R102 9,504 299,626 SH   SOLE   262,901 0 36,725
Coach COMMON 189754104 6,446 176,311 SH   SOLE   153,195 0 23,117
Comcast Corp CL A COMMON 20030N101 8,170 123,149 SH   SOLE   105,285 0 17,864
Corning COMMON 219350105 8,606 363,878 SH   SOLE   320,264 0 43,615
Credit Suisse Group COMMON 225401108 948 72,139 SH   SOLE   60,012 0 12,127
CSX COMMON 126408103 1,060 34,764 SH   SOLE   34,134 0 630
Cummins Inc COMMON 231021106 5,618 43,839 SH   SOLE   37,561 0 6,278
CVS Health COMMON 126650100 3,823 42,964 SH   SOLE   36,534 0 6,430
Deere & Co. COMMON 244199105 5,495 64,382 SH   SOLE   56,614 0 7,768
Delta Air Lines COMMON 247361702 3,731 94,794 SH   SOLE   80,023 0 14,771
Diodes COMMON 254543101 358 16,768 SH   SOLE   11,003 0 5,765
DSW Inc COMMON 23334L102 2,109 102,994 SH   SOLE   93,433 0 9,561
Eaton Corp PLC COMMON G29183103 7,592 115,536 SH   SOLE   103,160 0 12,376
ENI SPA ADR COMMON 26874r108 840 29,109 SH   SOLE   25,204 0 3,905
Ensco PLC COMMON G3157S106 771 90,662 SH   SOLE   77,654 0 13,008
Entergy COMMON 29364G103 3,801 49,532 SH   SOLE   46,053 0 3,479
Ericsson COMMON 294821608 2,813 390,158 SH   SOLE   338,225 0 51,933
Exxon Mobil COMMON 30231G102 5,280 60,499 SH   SOLE   54,065 0 6,435
FedEx Corp COMMON 31428X106 5,212 29,836 SH   SOLE   24,585 0 5,251
Fifth Third Bancorp COMMON 316773100 4,531 221,470 SH   SOLE   184,839 0 36,631
Fluor COMMON 343412102 3,627 70,676 SH   SOLE   61,724 0 8,952
Foot Locker COMMON 344849104 1,220 18,008 SH   SOLE   17,574 0 434
General Electric Co. COMMON 369604103 1,567 52,899 SH   SOLE   48,242 0 4,657
General Motors COMMON 37045V100 4,867 153,197 SH   SOLE   130,171 0 23,026
Gilead Sciences COMMON 375558103 4,984 62,994 SH   SOLE   55,307 0 7,686
Goldman Sachs Group COMMON 38141G104 2,877 17,839 SH   SOLE   14,991 0 2,849
Goodyear Tire COMMON 382550101 6,822 211,208 SH   SOLE   182,817 0 28,391
Halliburton Co. COMMON 406216101 3,161 70,443 SH   SOLE   59,458 0 10,985
HollyFrontier Corp COMMON 436106108 3,460 141,235 SH   SOLE   123,170 0 18,065
Honda Motor COMMON 438128308 1,467 50,731 SH   SOLE   46,776 0 3,955
HSBC Holdings PLC COMMON 404280406 1,491 39,638 SH   SOLE   36,626 0 3,012
ING Groep NV COMMON 456837103 4,169 337,846 SH   SOLE   275,780 0 62,066
Ingram Micro COMMON 457153104 5,655 158,573 SH   SOLE   132,406 0 26,167
Intel COMMON 458140100 9,252 245,088 SH   SOLE   218,699 0 26,389
Int'l Business Machines COMMON 459200101 5,749 36,194 SH   SOLE   32,324 0 3,871
Jabil Circuit COMMON 466313103 2,329 106,741 SH   SOLE   97,638 0 9,103
Johnson & Johnson COMMON 478160104 7,375 62,429 SH   SOLE   56,146 0 6,283
JP Morgan Chase COMMON 46625H100 8,426 126,539 SH   SOLE   111,728 0 14,811
Keycorp COMMON 493267108 1,494 122,760 SH   SOLE   110,393 0 12,367
Kimberly Clark COMMON 494368103 1,825 14,468 SH   SOLE   13,169 0 1,299
Kohl's COMMON 500255104 4,019 91,858 SH   SOLE   78,140 0 13,717
Lexmark Int'l COMMON 529771107 4,638 116,070 SH   SOLE   104,473 0 11,597
Manpower Inc COMMON 56418H100 7,968 110,265 SH   SOLE   95,935 0 14,329
Marvell Tech COMMON g5876h105 3,234 243,727 SH   SOLE   209,213 0 34,513
McKesson COMMON 58155Q103 3,692 22,140 SH   SOLE   18,272 0 3,868
MDC Holdings COMMON 552676108 6,481 251,199 SH   SOLE   219,532 0 31,667
Medtronic PLC COMMON G5960L103 1,385 16,032 SH   SOLE   15,392 0 640
Merck & Co. COMMON 58933Y105 1,595 25,560 SH   SOLE   25,234 0 326
Metlife COMMON 59156r108 4,764 107,231 SH   SOLE   92,730 0 14,500
Microsoft COMMON 594918104 10,346 179,611 SH   SOLE   158,484 0 21,127
Mosaic Company New COMMON 61945c103 2,901 118,603 SH   SOLE   102,917 0 15,686
National Oilwell COMMON 637071101 5,045 137,330 SH   SOLE   120,471 0 16,859
Navios Maritime Holdings Inc COMMON Y62196103 643 531,549 SH   SOLE   438,978 0 92,571
Newmont Mining Corp Holding Co. COMMON 651639106 2,677 68,131 SH   SOLE   63,452 0 4,679
Nippon Telegraph and Telephone COMMON 654624105 3,495 76,289 SH   SOLE   62,117 0 14,172
Norfolk Southern COMMON 655844108 7,529 77,567 SH   SOLE   67,428 0 10,139
Old National Bancorp COMMON 680033107 4,724 336,020 SH   SOLE   292,319 0 43,700
Oracle COMMON 68389X105 5,792 147,451 SH   SOLE   125,894 0 21,557
PetMed Express COMMON 716382106 2,032 100,190 SH   SOLE   94,186 0 6,004
Pfizer COMMON 717081103 2,464 72,763 SH   SOLE   63,156 0 9,607
PNC Bank COMMON 693475105 5,133 56,979 SH   SOLE   48,926 0 8,053
Prudential COMMON 744320102 7,383 90,427 SH   SOLE   80,310 0 10,116
Qualcomm COMMON 747525103 2,453 35,814 SH   SOLE   33,093 0 2,721
Rayonier COMMON 754907103 829 31,225 SH   SOLE   27,513 0 3,712
Royal Caribbean Cruises COMMON v7780t103 6,564 87,584 SH   SOLE   73,883 0 13,701
Royal Dutch Shell A COMMON 780259206 2,160 43,140 SH   SOLE   36,653 0 6,488
Sanofi COMMON 80105n105 4,586 120,078 SH   SOLE   107,048 0 13,030
Seagate Tech COMMON g7945m107 8,078 209,544 SH   SOLE   183,282 0 26,263
Ship Finance Int'l COMMON G81075106 2,763 187,579 SH   SOLE   173,996 0 13,583
Shire Pharmaceuticals COMMON 82481R106 3,781 19,504 SH   SOLE   16,582 0 2,922
Stage Stores COMMON 85254c305 611 108,830 SH   SOLE   106,533 0 2,297
Staples COMMON 855030102 1,898 222,043 SH   SOLE   189,476 0 32,567
Symantec COMMON 871503108 6,211 247,439 SH   SOLE   219,794 0 27,645
Synchrony Financial COMMON 87165B103 685 24,466 SH   SOLE   22,204 0 2,262
Target COMMON 87612E106 5,034 73,295 SH   SOLE   62,360 0 10,935
TeeKay Shipping COMMON Y8564W103 1,331 172,618 SH   SOLE   142,885 0 29,733
The Travelers Companies COMMON 89417e109 2,138 18,666 SH   SOLE   17,023 0 1,643
Total SA ADR COMMON 89151e109 2,969 62,253 SH   SOLE   57,140 0 5,113
Trinity Industries COMMON 896522109 3,078 127,281 SH   SOLE   110,623 0 16,658
Tsakos Energy COMMON G9108L108 1,561 323,825 SH   SOLE   273,176 0 50,649
Tutor Perini Corp COMMON 901109108 4,642 216,217 SH   SOLE   185,293 0 30,924
Tyson Foods COMMON 902494103 5,188 69,482 SH   SOLE   59,477 0 10,005
Universal Corp COMMON 913456109 1,074 18,448 SH   SOLE   17,840 0 608
Wal-Mart Stores COMMON 931142103 5,601 77,659 SH   SOLE   69,836 0 7,823
Walt Disney COMMON 254687106 9,912 106,740 SH   SOLE   93,275 0 13,466
Wells Fargo & Co. COMMON 949746101 4,783 108,019 SH   SOLE   94,994 0 13,025
Whirpool COMMON 963320106 5,437 33,528 SH   SOLE   29,447 0 4,082
Yamana Gold COMMON 98462Y100 3,560 825,993 SH   SOLE   733,039 0 92,954
Consumer Discret Select Sector SPDR ETF 81369Y407 3,482 43,501 SH   SOLE   42,889 0 612
Consumer Staples Select Sector SPDR ETF 81369Y308 1,022 19,198 SH   SOLE   18,519 0 679
Direxion Daily Dev Mkts Bull 3X Shrs ETF 25459W789 415 8,679 SH   SOLE   8,679 0 0
Direxion Daily S&P500 Bull 3X Shares ETF 25459W862 360 3,703 SH   SOLE   3,703 0 0
Direxion Daily Small Cap Bull 3X Shares ETF 25459W847 210 2,627 SH   SOLE   2,627 0 0
Energy Select Sector SPDR ETF 81369Y506 3,025 42,845 SH   SOLE   42,143 0 702
Financials Select Sector SPDR ETF 81369Y605 4,034 209,002 SH   SOLE   206,991 0 2,011
Health Care Select Sector SPDR ETF 81369Y209 4,085 56,647 SH   SOLE   55,976 0 671
iShares Barclays 3-7 Year Treasury Bond ETF ETF 464288661 951 7,513 SH   SOLE   7,436 0 77
iShares Barclays 7-10 Year Treasury ETF 464287440 1,432 12,803 SH   SOLE   12,615 0 188
iShares Barclays Agency Bond ETF 464288166 1,130 9,775 SH   SOLE   9,346 0 429
iShares Barclays MBS Bond ETF ETF 464288588 2,684 24,377 SH   SOLE   23,326 0 1,051
iShares iBoxx Invest Grade Corp Bond ETF 464287242 2,421 19,650 SH   SOLE   19,443 0 207
iShares JPMorgan USD Emerg Markets Bond ETF 464288281 599 5,113 SH   SOLE   5,113 0 0
iShares MSCI All Peru Capped Index Fund ETF 464289842 1,451 43,693 SH   SOLE   43,693 0 0
iShares MSCI Australia Index ETF 464286103 3,821 182,808 SH   SOLE   176,273 0 6,535
iShares MSCI Austria Index ETF 464286202 1,459 89,391 SH   SOLE   89,391 0 0
iShares MSCI Belgium Capped Index ETF 464286301 1,871 99,210 SH   SOLE   92,237 0 6,973
iShares MSCI Brazil Capped Index Fund ETF 464286400 1,833 54,331 SH   SOLE   50,467 0 3,864
iShares MSCI France Index Fund ETF 464286707 1,296 53,644 SH   SOLE   53,644 0 0
iShares MSCI Germany Index Fund ETF 464286806 4,838 184,167 SH   SOLE   179,258 0 4,909
iShares MSCI Hong Kong Index ETF 464286871 1,808 82,148 SH   SOLE   82,148 0 0
iShares MSCI Indonesia Index ETF 46429B309 1,934 73,147 SH   SOLE   67,958 0 5,189
iShares MSCI Ireland Index ETF 46429B507 1,796 47,256 SH   SOLE   47,256 0 0
iShares MSCI Italy Capped Inde ETF 46434G830 1,174 106,527 SH   SOLE   106,527 0 0
iShares MSCI Japan Index ETF 46434G822 7,129 568,517 SH   SOLE   557,872 0 10,645
iShares MSCI Netherlands Inves ETF 464286814 3,310 132,068 SH   SOLE   126,860 0 5,208
iShares MSCI New Zealand Index ETF 464289123 2,092 44,662 SH   SOLE   43,268 0 1,394
iShares MSCI Philippines Index ETF 46429B408 939 25,203 SH   SOLE   23,500 0 1,703
iShares MSCI South Korea Index ETF 464286772 3,943 67,838 SH   SOLE   65,490 0 2,348
iShares MSCI Spain Capped Index ETF 464286764 1,249 46,572 SH   SOLE   46,572 0 0
iShares MSCI Switzerland Index ETF 464286749 4,022 131,644 SH   SOLE   127,648 0 3,996
iShares MSCI Taiwan Index ETF 46434G772 4,273 272,156 SH   SOLE   263,581 0 8,575
iShares MSCI Thailand Capped ETF ETF 464286624 1,770 24,072 SH   SOLE   23,156 0 916
iShares MSCI Turkey Investable Market Index Fund ETF 464286715 1,399 36,949 SH   SOLE   35,238 0 1,711
iShares MSCI United Kingdom Index ETF 46435G334 5,101 322,045 SH   SOLE   314,140 0 7,905
iShares National Muni Bond ETF 464288414 862 7,647 SH   SOLE   7,566 0 81
iShares Russell 2000 Value Index Fund ETF 464287630 1,423 13,584 SH   SOLE   13,348 0 236
Materials Select Sector SPDR ETF 81369Y100 569 11,917 SH   SOLE   11,917 0 0
PIMCO 0-5 Year High Yield Corporate Bond Index ETF ETF 72201R783 2,848 28,627 SH   SOLE   28,243 0 384
Powershares DB Optimum Yield ETF 73937V106 588 33,725 SH   SOLE   33,725 0 0
Powershares Senior Loan Portfolio ETF 73936Q769 468 20,147 SH   SOLE   19,427 0 720
Real Estate Select SPDR ETF 81369Y860 953 29,090 SH   SOLE   28,811 0 279
SPDR S&P Emerging Markets Small Cap ETF ETF 78463X756 2,102 48,692 SH   SOLE   48,692 0 0
Technology Select Sector SPDR ETF 81369Y803 5,637 117,987 SH   SOLE   116,956 0 1,031
Vaneck Vectors Emerging Markets High Yield Bond ETF ETF 92189F353 7,695 311,794 SH   SOLE   302,277 0 9,517
Vaneck Vectors Russia ETF ETF 92189F403 2,264 120,666 SH   SOLE   113,674 0 6,992
Vanguard Interm-Tm Corp Bond Index ETF ETF 92206C870 4,525 50,513 SH   SOLE   47,715 0 2,798
Vanguard Mortgage-Backed Securities ETF ETF 92206c771 3,438 63,707 SH   SOLE   62,177 0 1,530
Vanguard Short-Term Bond ETF ETF 921937827 987 12,210 SH   SOLE   11,571 0 639
Vanguard Short-Term Corp Bond Index ETF ETF 92206C409 615 7,631 SH   SOLE   7,355 0 276
Vanguard Telecom Services ETF ETF 92204A884 601 6,362 SH   SOLE   6,233 0 129
Vanguard Total Bond Market ETF ETF 921937835 3,008 35,745 SH   SOLE   33,691 0 2,054