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
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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
Advanced Semiconduc COMMON STOCKS 00756M404 168 41,500 SH   SOLE   41,500 0 0
Agilent Technologie COMMON STOCKS 00846U101 599 14,000 SH   SOLE   14,000 0 0
Apple Inc COMMON STOCKS 037833100 1,190 3,000 SH   SOLE   3,000 0 0
ARM Holdings PLC COMMON STOCKS 042068106 906 25,000 SH   SOLE   25,000 0 0
Armstrong World Ind COMMON STOCKS 04247X102 5,974 125,000 SH   SOLE   125,000 0 0
Arrow Electronics I COMMON STOCKS 042735100 1,116 28,000 SH   SOLE   28,000 0 0
Autodesk Inc COMMON STOCKS 052769106 950 28,000 SH   SOLE   28,000 0 0
Barclays PLC COMMON STOCKS 06738E204 1,712 100,000 SH   SOLE   100,000 0 0
Basic Energy Servic COMMON STOCKS 06985P100 1,179 97,516 SH   SOLE   97,516 0 0
BB&T Corp COMMON STOCKS 054937107 474 14,000 SH   SOLE   14,000 0 0
Beazer Homes USA In COMMON STOCKS 07556Q881 438 25,000 SH   SOLE   25,000 0 0
Cavco Industries In COMMON STOCKS 149568107 1,475 29,248 SH   SOLE   29,248 0 0
Centene Corp COMMON STOCKS 15135B101 1,101 21,000 SH   SOLE   21,000 0 0
Cobalt Internationa COMMON STOCKS 19075F106 1,328 50,000 SH   SOLE   50,000 0 0
Compuware Corp COMMON STOCKS 205638109 507 49,000 SH   SOLE   49,000 0 0
Consol Energy Inc COMMON STOCKS 20854P109 1,708 63,000 SH   SOLE   63,000 0 0
Credit Suisse Group COMMON STOCKS 225401108 1,323 50,000 SH   SOLE   50,000 0 0
Deltic Timber Corp COMMON STOCKS 247850100 1,214 21,000 SH   SOLE   21,000 0 0
DR Horton Inc COMMON STOCKS 23331A109 2,162 101,600 SH   SOLE   101,600 0 0
Eagle Materials Inc COMMON STOCKS 26969P108 1,392 21,000 SH   SOLE   21,000 0 0
Eastman Chemical Co COMMON STOCKS 277432100 2,940 42,000 SH   SOLE   42,000 0 0
Eli Lilly & Co COMMON STOCKS 532457108 3,782 77,000 SH   SOLE   77,000 0 0
EverBank Financial COMMON STOCKS 29977G102 812 49,000 SH   SOLE   49,000 0 0
Facebook Inc COMMON STOCKS 30303M102 1,568 63,000 SH   SOLE   63,000 0 0
Fluor Corp COMMON STOCKS 343412102 1,246 21,000 SH   SOLE   21,000 0 0
Fossil Inc COMMON STOCKS 34988V106 1,446 14,000 SH   SOLE   14,000 0 0
Georgia Gulf Corp COMMON STOCKS 05463D100 3,577 84,000 SH   SOLE   84,000 0 0
Gibraltar Industrie COMMON STOCKS 374689107 194 13,292 SH   SOLE   13,292 0 0
Halliburton Co COMMON STOCKS 406216101 876 21,000 SH   SOLE   21,000 0 0
Harsco Corp COMMON STOCKS 415864107 487 21,000 SH   SOLE   21,000 0 0
Heartland Express I COMMON STOCKS 422347104 486 35,000 SH   SOLE   35,000 0 0
Hercules Offshore I COMMON STOCKS 427093109 1,551 220,236 SH   SOLE   220,236 0 0
Holly Corp COMMON STOCKS 436106108 1,497 35,000 SH   SOLE   35,000 0 0
Huntington Bancshar COMMON STOCKS 446150104 330 42,000 SH   SOLE   42,000 0 0
InterMune Inc COMMON STOCKS 45884X103 962 100,000 SH   SOLE   100,000 0 0
iPath GEMS Asia 8 E COMMON STOCKS 06738G878 321 7,000 SH   SOLE   7,000 0 0
iShares MSCI Italy COMMON STOCKS 464286855 1,440 121,900 SH   SOLE   121,900 0 0
iShares S&P Europe COMMON STOCKS 464287861 1,085 28,000 SH   SOLE   28,000 0 0
JetBlue Airways Cor COMMON STOCKS 477143101 660 105,000 SH   SOLE   105,000 0 0
Kaiser Aluminum Cor COMMON STOCKS 483007704 1,735 28,000 SH   SOLE   28,000 0 0
KBR Inc COMMON STOCKS 48242W106 910 28,000 SH   SOLE   28,000 0 0
La-Z-Boy Inc COMMON STOCKS 505336107 1,561 77,000 SH   SOLE   77,000 0 0
Lennar Corp COMMON STOCKS 526057104 3,856 107,000 SH   SOLE   107,000 0 0
Louisiana-Pacific C COMMON STOCKS 546347105 415 28,000 SH   SOLE   28,000 0 0
Martin Marietta Mat COMMON STOCKS 573284106 689 7,000 SH   SOLE   7,000 0 0
MercadoLibre Inc COMMON STOCKS 58733R102 1,401 13,000 SH   SOLE   13,000 0 0
Meritage Homes Corp COMMON STOCKS 59001A102 1,084 25,000 SH   SOLE   25,000 0 0
Morgan Stanley Chin COMMON STOCKS 617468103 1,660 86,407 SH   SOLE   86,407 0 0
Nortek Inc COMMON STOCKS 656559309 1,804 28,000 SH   SOLE   28,000 0 0
NVR Inc COMMON STOCKS 62944T105 9,312 10,100 SH   SOLE   10,100 0 0
Penn Virginia Corp COMMON STOCKS 707882106 296 63,000 SH   SOLE   63,000 0 0
Plum Creek Timber C COMMON STOCKS 729251108 6,860 147,000 SH   SOLE   147,000 0 0
Potlatch Corp COMMON STOCKS 737630103 1,011 25,000 SH   SOLE   25,000 0 0
Range Resources Cor COMMON STOCKS 75281A109 8,428 109,000 SH   SOLE   109,000 0 0
Reliance Steel & Al COMMON STOCKS 759509102 6,556 100,000 SH   SOLE   100,000 0 0
Rex Energy Corp COMMON STOCKS 761565100 739 42,000 SH   SOLE   42,000 0 0
Sears Hometown and COMMON STOCKS 812362101 743 17,000 SH   SOLE   17,000 0 0
Simpson Manufacturi COMMON STOCKS 829073105 1,030 35,000 SH   SOLE   35,000 0 0
SM Energy Co COMMON STOCKS 78454L100 6,298 105,000 SH   SOLE   105,000 0 0
SouFun Holdings Ltd COMMON STOCKS 836034108 1,635 65,900 SH   SOLE   65,900 0 0
St Joe Co/The COMMON STOCKS 790148100 2,379 113,000 SH   SOLE   113,000 0 0
Standard Pacific Co COMMON STOCKS 85375C101 816 98,000 SH   SOLE   98,000 0 0
Steel Dynamics Inc COMMON STOCKS 858119100 1,863 125,000 SH   SOLE   125,000 0 0
Steven Madden Ltd COMMON STOCKS 556269108 1,693 35,000 SH   SOLE   35,000 0 0
Stillwater Mining C COMMON STOCKS 86074Q102 387 36,000 SH   SOLE   36,000 0 0
Taser International COMMON STOCKS 87651B104 357 42,000 SH   SOLE   42,000 0 0
Taylor Morrison Hom COMMON STOCKS 87724P106 732 30,000 SH   SOLE   30,000 0 0
Teck Resources Ltd COMMON STOCKS 878742204 449 21,000 SH   SOLE   21,000 0 0
Tejon Ranch Co COMMON STOCKS 879080109 513 18,000 SH   SOLE   18,000 0 0
Tempur-Pedic Intern COMMON STOCKS 88023U101 2,546 58,000 SH   SOLE   58,000 0 0
Toll Brothers Inc COMMON STOCKS 889478103 3,654 112,000 SH   SOLE   112,000 0 0
TRI Pointe Homes LL COMMON STOCKS 87265H109 2,205 133,000 SH   SOLE   133,000 0 0
Tutor Perini Corp COMMON STOCKS 901109108 886 49,000 SH   SOLE   49,000 0 0
Tyson Foods Inc COMMON STOCKS 902494103 642 25,000 SH   SOLE   25,000 0 0
United Parcel Servi COMMON STOCKS 911312106 4,237 49,000 SH   SOLE   49,000 0 0
Universal Forest Pr COMMON STOCKS 913543104 1,871 46,856 SH   SOLE   46,856 0 0
Urban Outfitters In COMMON STOCKS 917047102 2,534 63,000 SH   SOLE   63,000 0 0
US Airways Group In COMMON STOCKS 90341W108 2,989 182,000 SH   SOLE   182,000 0 0
USG Corp COMMON STOCKS 903293405 8,068 350,000 SH   SOLE   350,000 0 0
Visteon Corp COMMON STOCKS 92839U206 3,156 50,000 SH   SOLE   50,000 0 0
Wabash National Cor COMMON STOCKS 929566107 285 28,000 SH   SOLE   28,000 0 0
Weyerhaeuser Co COMMON STOCKS 962166104 9,686 340,000 SH   SOLE   340,000 0 0
Willbros Group Inc COMMON STOCKS 969203108 473 77,000 SH   SOLE   77,000 0 0