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 INTL GROUP INCCOM NEW026874784135,1362,778,848SH SOLE 2,778,84800
APPLE INCCOM037833100116,386244,120SH SOLE 244,12000
ASHLAND INC NEWCOM04420910415,692169,665SH SOLE 169,66500
AXIALL CORPCOM05463D10069,5431,840,215SH SOLE 1,840,21500
BANK OF AMERICA CORPORATIONCOM06050510430,6302,219,607SH SOLE 2,219,60700
BEAZER HOMES USA INCCOM NEW07556Q88121,7981,210,943SH SOLE 1,210,94300
BERRY PLASTICS GROUP INCCOM08579W10325,5181,277,802SH SOLE 1,277,80200
BOYD GAMING CORPCOM10330410111,366803,248SH SOLE 803,24800
BROADCOM CORPCL A11132010753,6952,064,336SH SOLE 2,064,33600
CARNIVAL CORPPAIRED CTF14365830029,496903,619SH SOLE 903,61900
CELANESE CORP DELCOM SER A15087010374,7701,416,401SH SOLE 1,416,40100
CHICAGO BRIDGE & IRON CO N VN Y REGISTRY SH16725010999,6931,471,044SH SOLE 1,471,04400
CHIMERA INVT CORPCOM16934Q1098,6032,830,152SH SOLE 2,830,15200
CITIGROUP INCCOM NEW172967424472,1819,733,639SH SOLE 9,733,63900
COMMUNITY HEALTH SYS INC NEWCOM2036681088,717210,000SH SOLE 210,00000
DEAN FOODS CO NEWCOM NEW2423702038,276428,792SH SOLE 428,79200
DELPHI AUTOMOTIVE PLCSHSG2782310645,760783,311SH SOLE 783,31100
DELTA AIR LINES INC DELCOM NEW247361702198,1578,400,000SH SOLE 8,400,00000
E M C CORP MASSCOM26864810286,6393,389,569SH SOLE 3,389,56900
FLUOR CORP NEWCOM343412102103,5721,459,629SH SOLE 1,459,62900
FORD MTR CO DELCOM PAR $0.01345370860129,8797,698,815SH SOLE 7,698,81500
FOSTER WHEELER AGCOMH2717810439,5481,501,470SH SOLE 1,501,47000
FREEPORT-MCMORAN COPPER & GOCOM35671D85758,0431,754,639SH SOLE 1,754,63900
FREEPORT-MCMORAN COPPER & GOCALL35671D90719314,215SHCallSOLE 14,21500
FUSION-IO INCCOM36112J1076,642495,973SH SOLE 495,97300
GENERAL MTRS COCOM37045V100179,2454,983,202SH SOLE 4,983,20200
GENERAL MTRS CO*W EXP 07/10/20137045V1184,639175,561SH SOLE 175,56100
GENERAL MTRS CO*W EXP 07/10/20137045V1263,265175,561SH SOLE 175,56100
GOODYEAR TIRE & RUBR COCOM382550101423,02918,843,154SH SOLE 18,843,15400
GOOGLE INCCL A38259P508126,927144,909SH SOLE 144,90900
HARTFORD FINL SVCS GROUP INCCOM416515104126,1214,052,770SH SOLE 4,052,77000
HARTFORD FINL SVCS GROUP INC*W EXP 06/26/20141651512028,5061,275,475SH SOLE 1,275,47500
HCA HOLDINGS INCCOM40412C101195,5004,573,082SH SOLE 4,573,08200
HERTZ GLOBAL HOLDINGS INCCOM42805T10533,2411,500,000SH SOLE 1,500,00000
HESS CORPCOM42809H10732,497420,180SH SOLE 420,18000
HUNTSMAN CORPCOM447011107161,0927,816,166SH SOLE 7,816,16600
INGREDION INCCOM45718710219,683297,452SH SOLE 297,45200
JPMORGAN CHASE & COCOM46625H10057,7171,116,600SH SOLE 1,116,60000
KBR INCCOM48242W10669,7642,137,317SH SOLE 2,137,31700
LINCOLN NATL CORP INDCOM53418710923,113550,465SH SOLE 550,46500
MASCO CORPCOM57459910664,6383,037,517SH SOLE 3,037,51700
METLIFE INCCOM59156R108189,2944,031,818SH SOLE 4,031,81800
MGM RESORTS INTERNATIONALCOM552953101134,4326,576,869SH SOLE 6,576,86900
MPG OFFICE TR INCCOM55327410112,4193,967,674SH SOLE 3,967,67400
MUELLER WTR PRODS INCCOM SER A62475810845,8145,733,825SH SOLE 5,733,82500
OWENS CORNING NEWCOM69074210193,4042,459,292SH SOLE 2,459,29200
PENNEY J C INCCOM7081601066,508737,800SH SOLE 737,80000
PLY GEM HLDGS INCCOM72941W1006,150439,858SH SOLE 439,85800
POWERSHARES QQQ TRUSTUNIT SER 173935A104453,3875,750,000SH SOLE 5,750,00000
PRUDENTIAL FINL INCCOM744320102131,9901,692,581SH SOLE 1,692,58100
QUALCOMM INCCOM747525103169,5712,517,323SH SOLE 2,517,32300
SANDISK CORPCOM80004C10125,287424,934SH SOLE 424,93400
SEALED AIR CORP NEWCOM81211K10012,337453,718SH SOLE 453,71800
SPDR DOW JONES INDL AVRG ETFUT SER 178467X109150,9911,000,000SH SOLE 1,000,00000
SPDR S&P 500 ETF TRTR UNIT78462F103645,0613,837,366SH SOLE 3,837,36600
SPDR S&P 500 ETF TRCALL78462F90347,170466,853SHCallSOLE 466,85300
TENET HEALTHCARE CORPCOM NEW88033G4078,651210,000SH SOLE 210,00000
TENNECO INCCOM8803491055,169102,348SH SOLE 102,34800
TEREX CORP NEWCOM88077910379,1932,356,969SH SOLE 2,356,96900
TRANSOCEAN LTDREG SHSH8817H100100,5342,259,167SH SOLE 2,259,16700
TRINITY INDS INCCOM89652210955,6961,228,139SH SOLE 1,228,13900
U S AIRWAYS GROUP INCCOM90341W108177,9559,385,636SH SOLE 9,385,63600
UNITED CONTL HLDGS INCCOM910047109261,7658,523,821SH SOLE 8,523,82100
WHIRLPOOL CORPCOM96332010669,626475,470SH SOLE 475,47000