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
American International Group COM NEW 026874784 126,673 2,833,848 SH   SOLE   2,833,848 0 0
Apple Inc COM 037833100 151,700 383,004 SH   SOLE   383,004 0 0
Ashland Inc COM 044209104 14,459 173,165 SH   SOLE   173,165 0 0
Axiall Corp COM 05463D100 79,953 1,877,715 SH   SOLE   1,877,715 0 0
Bank of America Corp COM 060505104 81,592 6,344,607 SH   SOLE   6,344,607 0 0
Beazer Homes USA Inc COM NEW 07556Q881 21,648 1,235,643 SH   SOLE   1,235,643 0 0
Berry Plastics Group Inc COM 08579W103 28,773 1,303,702 SH   SOLE   1,303,702 0 0
Boyd Gaming Corp COM 103304101 9,258 819,248 SH   SOLE   819,248 0 0
Broadcom Corp CL A 111320107 109,235 3,235,625 SH   SOLE   3,235,625 0 0
Calumet Specialty Products Partners LP UT LTD PARTNER 131476103 15,914 437,439 SH   SOLE   437,439 0 0
Carnival Corp PAIRED CTF 143658300 61,038 1,780,049 SH   SOLE   1,780,049 0 0
Celanese Corp COM SER A 150870103 42,071 939,084 SH   SOLE   939,084 0 0
CF Industries Holdings Inc COM 125269100 7,746 45,167 SH   SOLE   45,167 0 0
Check Point Software Tech ORD M22465104 27,570 554,947 SH   SOLE   554,947 0 0
Chicago Bridge & Iron Company NV N Y REGISTRY SH 167250109 89,552 1,501,044 SH   SOLE   1,501,044 0 0
Chicago Bridge & Iron Company NV CALL 167250909 38 5,000 SH Call SOLE   5,000 0 0
Chimera Investment Corp COM 16934Q109 8,661 2,887,152 SH   SOLE   2,887,152 0 0
Citigroup Inc COM NEW 172967424 460,591 9,601,639 SH   SOLE   9,601,639 0 0
Comcast Corp CL A 20030N101 61,356 1,465,032 SH   SOLE   1,465,032 0 0
Dean Foods Co COM 242370104 12,522 1,249,684 SH   SOLE   1,249,684 0 0
Delphi Automotive PLC SHS G27823106 40,517 799,311 SH   SOLE   799,311 0 0
Delta Air Lines Inc COM NEW 247361702 192,542 10,290,884 SH   SOLE   10,290,884 0 0
EMC Corp COM 268648102 87,596 3,708,569 SH   SOLE   3,708,569 0 0
Fluor Corp COM 343412102 88,350 1,489,629 SH   SOLE   1,489,629 0 0
Fluor Corp CALL 343412902 38 7,500 SH Call SOLE   7,500 0 0
Ford Motor Co. COM PAR $0.01 345370860 161,798 10,458,815 SH   SOLE   10,458,815 0 0
Foster Wheeler AG COM H27178104 33,259 1,531,970 SH   SOLE   1,531,970 0 0
Foster Wheeler AG CALL H27178904 40 5,000 SH Call SOLE   5,000 0 0
Fusion-io Inc COM 36112J107 22,510 1,580,754 SH   SOLE   1,580,754 0 0
General Motors Corp COM 37045V100 168,917 5,071,069 SH   SOLE   5,071,069 0 0
General Motors Corp *W EXP 07/10/201 37045V118 4,213 175,561 SH   SOLE   175,561 0 0
General Motors Corp *W EXP 07/10/201 37045V126 2,870 175,561 SH   SOLE   175,561 0 0
Goodyear Tire & Rubber Co. COM 382550101 336,380 22,000,000 SH   SOLE   22,000,000 0 0
Google Inc CL A 38259P508 145,191 164,920 SH   SOLE   164,920 0 0
HCA Holdings Inc COM 40412C101 141,466 3,923,082 SH   SOLE   3,923,082 0 0
Hertz Global Holdings Inc COM 42805T105 74,014 2,984,439 SH   SOLE   2,984,439 0 0
Hess Corp COM 42809H107 28,503 428,680 SH   SOLE   428,680 0 0
Huntsman Corp COM 447011107 115,194 6,956,166 SH   SOLE   6,956,166 0 0
JPMorgan Chase & Co COM 46625H100 47,041 891,100 SH   SOLE   891,100 0 0
KBR Inc. COM 48242W106 57,516 1,769,711 SH   SOLE   1,769,711 0 0
KBR Inc. CALL 48242W906 25 5,000 SH Call SOLE   5,000 0 0
Lincoln National Corp COM 534187109 20,484 561,665 SH   SOLE   561,665 0 0
Masco Corp COM 574599106 60,410 3,099,517 SH   SOLE   3,099,517 0 0
MetLife Inc COM 59156R108 188,248 4,113,818 SH   SOLE   4,113,818 0 0
MGM Resorts International COM 552953101 99,201 6,711,869 SH   SOLE   6,711,869 0 0
Microsoft Corp COM 594918104 48,342 1,400,000 SH   SOLE   1,400,000 0 0
MPG Office Trust Inc COM 553274101 12,710 4,047,674 SH   SOLE   4,047,674 0 0
Mueller Water Products Inc. COM SER A 624758108 49,842 7,213,010 SH   SOLE   7,213,010 0 0
NetApp Inc COM 64110D104 24,182 640,067 SH   SOLE   640,067 0 0
Owens Corning Inc COM 690742101 98,063 2,509,292 SH   SOLE   2,509,292 0 0
Ply Gem Holdings Inc COM 72941W100 2,999 149,498 SH   SOLE   149,498 0 0
Powershares QQQ Trust UNIT SER 1 73935A104 409,458 5,750,000 SH   SOLE   5,750,000 0 0
Prudential Financial Inc COM 744320102 126,129 1,727,081 SH   SOLE   1,727,081 0 0
QUALCOMM Inc COM 747525103 183,076 2,997,323 SH   SOLE   2,997,323 0 0
Sandisk Corp COM 80004C101 64,155 1,050,000 SH   SOLE   1,050,000 0 0
Sealed Air Corp COM 81211K100 28,839 1,204,135 SH   SOLE   1,204,135 0 0
SPDR DJ Industrial Average ETF Trust UT SER 1 78467X109 148,800 1,000,000 SH   SOLE   1,000,000 0 0
SPDR S&P 500 ETF Trust TR UNIT 78462F103 1,309,995 8,186,960 SH   SOLE   8,186,960 0 0
Tenneco Inc COM 880349105 4,725 104,348 SH   SOLE   104,348 0 0
Teradyne Inc COM 880770102 5,947 338,450 SH   SOLE   338,450 0 0
Terex Corp COM 880779103 57,172 2,173,825 SH   SOLE   2,173,825 0 0
The Hartford Financial Services Group COM 416515104 127,847 4,134,770 SH   SOLE   4,134,770 0 0
The Hartford Financial Services Group *W EXP 06/26/201 416515120 27,933 1,275,475 SH   SOLE   1,275,475 0 0
Transocean Ltd. COM H8817H100 122,760 2,560,167 SH   SOLE   2,560,167 0 0
Trinity Industries Inc COM 896522109 36,048 937,785 SH   SOLE   937,785 0 0
United Continental Holdings Inc. COM 910047109 241,904 7,731,044 SH   SOLE   7,731,044 0 0
US Airways Group Inc REG SHS 90341W108 153,353 9,339,374 SH   SOLE   9,339,374 0 0
Valero Energy Corp COM 91913Y100 7,658 220,234 SH   SOLE   220,234 0 0
Weatherford Intl Ltd COM H27013103 31,258 2,281,636 SH   SOLE   2,281,636 0 0
Whirlpool Corp COM 963320106 57,234 500,470 SH   SOLE   500,470 0 0
WhiteWave Foods Co-CL A COM CL A 966244105 3,351 206,188 SH   SOLE   206,188 0 0
WhiteWave Foods Co-CL B COM CL B 966244204 6,788 446,610 SH   SOLE   446,610 0 0