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
AMERICAN AIRLS GROUP INC COM 02376R102 177,325 7,022,765 SH   SOLE N/A 7,022,765 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 128,893 2,524,848 SH   SOLE N/A 2,524,848 0 0
APPLE INC COM 037833100 120,818 215,320 SH   SOLE N/A 215,320 0 0
ASML HOLDING N V N Y REGISTRY SHS N07059210 15,273 163,000 SH   SOLE N/A 163,000 0 0
AXIALL CORP COM 05463D100 79,866 1,683,515 SH   SOLE N/A 1,683,515 0 0
BAIDU INC SPON ADR REP A 056752108 36,588 205,692 SH   SOLE N/A 205,692 0 0
BEAZER HOMES USA INC COM NEW 07556Q881 28,985 1,186,943 SH   SOLE N/A 1,186,943 0 0
BERRY PLASTICS GROUP INC COM 08579W103 29,792 1,252,302 SH   SOLE N/A 1,252,302 0 0
BOYD GAMING CORP COM 103304101 8,864 787,248 SH   SOLE N/A 787,248 0 0
BROADCOM CORP CL A 111320107 50,949 1,718,336 SH   SOLE N/A 1,718,336 0 0
CARNIVAL CORP PAIRED CTF 143658300 28,562 711,019 SH   SOLE N/A 711,019 0 0
CBS CORP NEW CL B 124857202 31,169 489,000 SH   SOLE N/A 489,000 0 0
CELANESE CORP DEL COM SER A 150870103 75,015 1,356,268 SH   SOLE N/A 1,356,268 0 0
CHICAGO BRIDGE & IRON CO N V N Y REGISTRY SH 167250109 103,255 1,241,944 SH   SOLE N/A 1,241,944 0 0
CHIMERA INVT CORP COM 16934Q109 3,738 1,205,774 SH   SOLE N/A 1,205,774 0 0
CITIGROUP INC COM NEW 172967424 504,171 9,675,139 SH   SOLE N/A 9,675,139 0 0
COMCAST CORP NEW CL A 20030N101 20,318 391,000 SH   SOLE N/A 391,000 0 0
COMMUNITY HEALTH SYS INC NEW COM 203668108 26,262 668,754 SH   SOLE N/A 668,754 0 0
CYTEC INDS INC COM 232820100 5,314 57,044 SH   SOLE N/A 57,044 0 0
DELPHI AUTOMOTIVE PLC SHS G27823106 42,891 713,311 SH   SOLE N/A 713,311 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 154,812 5,635,683 SH   SOLE N/A 5,635,683 0 0
DISNEY WALT CO COM DISNEY 254687106 20,895 273,500 SH   SOLE N/A 273,500 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 20,440 314,600 SH   SOLE N/A 314,600 0 0
DU PONT E I DE NEMOURS & CO CALL 263534909 1,046 11,006 SH Call SOLE N/A 11,006 0 0
E M C CORP MASS COM 268648102 72,245 2,872,569 SH   SOLE N/A 2,872,569 0 0
EASTMAN CHEM CO COM 277432100 48,510 601,112 SH   SOLE N/A 601,112 0 0
FLUOR CORP NEW COM 343412102 97,747 1,217,429 SH   SOLE N/A 1,217,429 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 112,436 7,286,816 SH   SOLE N/A 7,286,816 0 0
FOSTER WHEELER AG COM H27178104 42,621 1,290,752 SH   SOLE N/A 1,290,752 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 42,573 1,128,056 SH   SOLE N/A 1,128,056 0 0
GENERAL MTRS CO COM 37045V100 203,044 4,968,052 SH   SOLE N/A 4,968,052 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V118 5,761 184,879 SH   SOLE N/A 184,879 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V126 4,276 184,879 SH   SOLE N/A 184,879 0 0
GOODYEAR TIRE & RUBR CO COM 382550101 289,895 12,154,921 SH   SOLE N/A 12,154,921 0 0
GOOGLE INC CL A 38259P508 265,282 236,709 SH   SOLE N/A 236,709 0 0
HALLIBURTON CO COM 406216101 50,374 992,600 SH   SOLE N/A 992,600 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 93,437 2,579,004 SH   SOLE N/A 2,579,004 0 0
HARTFORD FINL SVCS GROUP INC *W EXP 06/26/201 416515120 35,114 1,275,475 SH   SOLE N/A 1,275,475 0 0
HCA HOLDINGS INC COM 40412C101 243,387 5,101,382 SH   SOLE N/A 5,101,382 0 0
HD SUPPLY HLDGS INC COM 40416M105 4,916 204,733 SH   SOLE N/A 204,733 0 0
HESS CORP COM 42809H107 34,178 411,780 SH   SOLE N/A 411,780 0 0
HUNTSMAN CORP COM 447011107 187,948 7,640,166 SH   SOLE N/A 7,640,166 0 0
INGERSOLL-RAND PLC SHS G47791101 10,109 164,100 SH   SOLE N/A 164,100 0 0
INGREDION INC COM 457187102 43,045 628,766 SH   SOLE N/A 628,766 0 0
INTERPUBLIC GROUP COS INC COM 460690100 9,400 531,100 SH   SOLE N/A 531,100 0 0
JPMORGAN CHASE & CO COM 46625H100 69,743 1,192,600 SH   SOLE N/A 1,192,600 0 0
KBR INC COM 48242W106 81,320 2,550,000 SH   SOLE N/A 2,550,000 0 0
MASCO CORP COM 574599106 66,773 2,932,517 SH   SOLE N/A 2,932,517 0 0
METLIFE INC COM 59156R108 130,145 2,413,663 SH   SOLE N/A 2,413,663 0 0
MGM RESORTS INTERNATIONAL COM 552953101 151,042 6,421,869 SH   SOLE N/A 6,421,869 0 0
MUELLER WTR PRODS INC COM SER A 624758108 36,976 3,946,210 SH   SOLE N/A 3,946,210 0 0
OMNICOM GROUP INC COM 681919106 17,676 237,675 SH   SOLE N/A 237,675 0 0
OMNICOM GROUP INC CALL 681919906 275 2,500 SH Call SOLE N/A 2,500 0 0
OWENS CORNING NEW COM 690742101 122,735 3,014,115 SH   SOLE N/A 3,014,115 0 0
PENTAIR LTD SHS H6169Q108 10,167 130,900 SH   SOLE N/A 130,900 0 0
PLY GEM HLDGS INC COM 72941W100 6,206 344,231 SH   SOLE N/A 344,231 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 765,252 8,700,000 SH   SOLE N/A 8,700,000 0 0
PRUDENTIAL FINL INC COM 744320102 129,636 1,405,727 SH   SOLE N/A 1,405,727 0 0
QUALCOMM INC COM 747525103 82,679 1,113,523 SH   SOLE N/A 1,113,523 0 0
SCHLUMBERGER LTD COM 806857108 30,358 336,900 SH   SOLE N/A 336,900 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 2,104,702 11,397,099 SH   SOLE N/A 11,397,099 0 0
SPDR S&P 500 ETF TR CALL 78462F903 8,674 35,902 SH Call SOLE N/A 35,902 0 0
TEREX CORP NEW COM 880779103 85,986 2,047,769 SH   SOLE N/A 2,047,769 0 0
TRANSOCEAN LTD REG SHS H8817H100 67,666 1,369,194 SH   SOLE N/A 1,369,194 0 0
TRINITY INDS INC COM 896522109 65,595 1,203,139 SH   SOLE N/A 1,203,139 0 0
TRIUMPH GROUP INC NEW COM 896818101 5,382 70,750 SH   SOLE N/A 70,750 0 0
UNITED CONTL HLDGS INC COM 910047109 228,772 6,047,365 SH   SOLE N/A 6,047,365 0 0
VALMONT INDS INC COM 920253101 7,680 51,500 SH   SOLE N/A 51,500 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 20,113 409,300 SH   SOLE N/A 409,300 0 0
WHIRLPOOL CORP COM 963320106 69,986 446,170 SH   SOLE N/A 446,170 0 0