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
Expires:Oct 31, 2018
Estimated average burden
hours per response:23.8

COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
American International GroupCOM NEW026874784126,6732,833,848SH SOLE 2,833,84800
Apple IncCOM037833100151,700383,004SH SOLE 383,00400
Ashland IncCOM04420910414,459173,165SH SOLE 173,16500
Axiall CorpCOM05463D10079,9531,877,715SH SOLE 1,877,71500
Bank of America CorpCOM06050510481,5926,344,607SH SOLE 6,344,60700
Beazer Homes USA IncCOM NEW07556Q88121,6481,235,643SH SOLE 1,235,64300
Berry Plastics Group IncCOM08579W10328,7731,303,702SH SOLE 1,303,70200
Boyd Gaming CorpCOM1033041019,258819,248SH SOLE 819,24800
Broadcom CorpCL A111320107109,2353,235,625SH SOLE 3,235,62500
Calumet Specialty Products Partners LPUT LTD PARTNER13147610315,914437,439SH SOLE 437,43900
Carnival CorpPAIRED CTF14365830061,0381,780,049SH SOLE 1,780,04900
Celanese CorpCOM SER A15087010342,071939,084SH SOLE 939,08400
CF Industries Holdings IncCOM1252691007,74645,167SH SOLE 45,16700
Check Point Software TechORDM2246510427,570554,947SH SOLE 554,94700
Chicago Bridge & Iron Company NVN Y REGISTRY SH16725010989,5521,501,044SH SOLE 1,501,04400
Chicago Bridge & Iron Company NVCALL167250909385,000SHCallSOLE 5,00000
Chimera Investment CorpCOM16934Q1098,6612,887,152SH SOLE 2,887,15200
Citigroup IncCOM NEW172967424460,5919,601,639SH SOLE 9,601,63900
Comcast CorpCL A20030N10161,3561,465,032SH SOLE 1,465,03200
Dean Foods CoCOM24237010412,5221,249,684SH SOLE 1,249,68400
Delphi Automotive PLCSHSG2782310640,517799,311SH SOLE 799,31100
Delta Air Lines IncCOM NEW247361702192,54210,290,884SH SOLE 10,290,88400
EMC CorpCOM26864810287,5963,708,569SH SOLE 3,708,56900
Fluor CorpCOM34341210288,3501,489,629SH SOLE 1,489,62900
Fluor CorpCALL343412902387,500SHCallSOLE 7,50000
Ford Motor Co.COM PAR $0.01345370860161,79810,458,815SH SOLE 10,458,81500
Foster Wheeler AGCOMH2717810433,2591,531,970SH SOLE 1,531,97000
Foster Wheeler AGCALLH27178904405,000SHCallSOLE 5,00000
Fusion-io IncCOM36112J10722,5101,580,754SH SOLE 1,580,75400
General Motors CorpCOM37045V100168,9175,071,069SH SOLE 5,071,06900
General Motors Corp*W EXP 07/10/20137045V1184,213175,561SH SOLE 175,56100
General Motors Corp*W EXP 07/10/20137045V1262,870175,561SH SOLE 175,56100
Goodyear Tire & Rubber Co.COM382550101336,38022,000,000SH SOLE 22,000,00000
Google IncCL A38259P508145,191164,920SH SOLE 164,92000
HCA Holdings IncCOM40412C101141,4663,923,082SH SOLE 3,923,08200
Hertz Global Holdings IncCOM42805T10574,0142,984,439SH SOLE 2,984,43900
Hess CorpCOM42809H10728,503428,680SH SOLE 428,68000
Huntsman CorpCOM447011107115,1946,956,166SH SOLE 6,956,16600
JPMorgan Chase & CoCOM46625H10047,041891,100SH SOLE 891,10000
KBR Inc.COM48242W10657,5161,769,711SH SOLE 1,769,71100
KBR Inc.CALL48242W906255,000SHCallSOLE 5,00000
Lincoln National CorpCOM53418710920,484561,665SH SOLE 561,66500
Masco CorpCOM57459910660,4103,099,517SH SOLE 3,099,51700
MetLife IncCOM59156R108188,2484,113,818SH SOLE 4,113,81800
MGM Resorts InternationalCOM55295310199,2016,711,869SH SOLE 6,711,86900
Microsoft CorpCOM59491810448,3421,400,000SH SOLE 1,400,00000
MPG Office Trust IncCOM55327410112,7104,047,674SH SOLE 4,047,67400
Mueller Water Products Inc.COM SER A62475810849,8427,213,010SH SOLE 7,213,01000
NetApp IncCOM64110D10424,182640,067SH SOLE 640,06700
Owens Corning IncCOM69074210198,0632,509,292SH SOLE 2,509,29200
Ply Gem Holdings IncCOM72941W1002,999149,498SH SOLE 149,49800
Powershares QQQ TrustUNIT SER 173935A104409,4585,750,000SH SOLE 5,750,00000
Prudential Financial IncCOM744320102126,1291,727,081SH SOLE 1,727,08100
QUALCOMM IncCOM747525103183,0762,997,323SH SOLE 2,997,32300
Sandisk CorpCOM80004C10164,1551,050,000SH SOLE 1,050,00000
Sealed Air CorpCOM81211K10028,8391,204,135SH SOLE 1,204,13500
SPDR DJ Industrial Average ETF TrustUT SER 178467X109148,8001,000,000SH SOLE 1,000,00000
SPDR S&P 500 ETF TrustTR UNIT78462F1031,309,9958,186,960SH SOLE 8,186,96000
Tenneco IncCOM8803491054,725104,348SH SOLE 104,34800
Teradyne IncCOM8807701025,947338,450SH SOLE 338,45000
Terex CorpCOM88077910357,1722,173,825SH SOLE 2,173,82500
The Hartford Financial Services GroupCOM416515104127,8474,134,770SH SOLE 4,134,77000
The Hartford Financial Services Group*W EXP 06/26/20141651512027,9331,275,475SH SOLE 1,275,47500
Transocean Ltd.COMH8817H100122,7602,560,167SH SOLE 2,560,16700
Trinity Industries IncCOM89652210936,048937,785SH SOLE 937,78500
United Continental Holdings Inc.COM910047109241,9047,731,044SH SOLE 7,731,04400
US Airways Group IncREG SHS90341W108153,3539,339,374SH SOLE 9,339,37400
Valero Energy CorpCOM91913Y1007,658220,234SH SOLE 220,23400
Weatherford Intl LtdCOMH2701310331,2582,281,636SH SOLE 2,281,63600
Whirlpool CorpCOM96332010657,234500,470SH SOLE 500,47000
WhiteWave Foods Co-CL ACOM CL A9662441053,351206,188SH SOLE 206,18800
WhiteWave Foods Co-CL BCOM CL B9662442046,788446,610SH SOLE 446,61000