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 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
AMERICAN AIRLS GROUP INCCOM02376R102233,5614,355,050SH SOLEN/A4,355,05000
AMERICAN RLTY CAP PPTYS INCCOM02917T10426,4952,927,632SH SOLEN/A2,927,63200
AXIALL CORPCOM05463D10048,2071,135,088SH SOLEN/A1,135,08800
CHICAGO BRIDGE & IRON CO N VN Y REGISTRY SH16725010956,5721,347,598SH SOLEN/A1,347,59800
DELTA AIR LINES INC DELCOM NEW247361702158,4643,221,474SH SOLEN/A3,221,47400
EASTMAN CHEM COCOM27743210036,022474,852SH SOLEN/A474,85200
GENERAL MTRS CO*W EXP 07/10/20137045V1184,800190,011SH SOLEN/A190,01100
GENERAL MTRS CO*W EXP 07/10/20137045V1263,255190,011SH SOLEN/A190,01100
GENERAL MTRS COCOM37045V100512,43714,678,800SH SOLEN/A14,678,80000
GOODYEAR TIRE & RUBR COCOM382550101292,52010,238,716SH SOLEN/A10,238,71600
GOOGLE INCCL A38259P508196,178369,687SH SOLEN/A369,68700
GOOGLE INCCL C38259P706263,141499,887SH SOLEN/A499,88700
HARTFORD FINL SVCS GROUP INC*W EXP 06/26/20141651512017,125500,000SH SOLEN/A500,00000
HCA HOLDINGS INCCOM40412C101367,7275,010,582SH SOLEN/A5,010,58200
HD SUPPLY HLDGS INCCOM40416M10538,4641,304,309SH SOLEN/A1,304,30900
HUNTSMAN CORPCOM447011107139,2836,114,274SH SOLEN/A6,114,27400
KBR INCCOM48242W10634,6202,042,473SH SOLEN/A2,042,47300
LORILLARD INCCOM54414710167,7801,076,900SH SOLEN/A1,076,90000
MASCO CORPCOM574599106115,9304,600,409SH SOLEN/A4,600,40900
NXP SEMICONDUCTORS N VCOMN6596X109179,7502,352,752SH SOLEN/A2,352,75200
OWENS CORNING NEWCOM690742101101,4952,834,260SH SOLEN/A2,834,26000
PRICELINE COM INCCOM NEW741503403361,303316,874SH SOLEN/A316,87400
RYLAND GROUP INCCOM78376410334,325890,159SH SOLEN/A890,15900
SPDR S&P 500 ETF TRTR UNIT78462F1034,69622,854SH SOLEN/A22,85400
TEREX CORP NEWCOM88077910346,0501,651,706SH SOLEN/A1,651,70600
TRIUMPH GROUP INC NEWCOM89681810151,062759,625SH SOLEN/A759,62500
UNITED CONTL HLDGS INCCOM910047109329,0364,919,067SH SOLEN/A4,919,06700
WHIRLPOOL CORPCOM963320106329,0861,698,595SH SOLEN/A1,698,59500