13F-HR 1 q0311.txt 9/30/11 FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- ------ ALLEGIANT TRAVEL CO COM 01748X102 6559 139170.0000 SH Sole 139170.0000 ALLIANCE DATA SYS CORP COM COM 018581108 21829 235475.0000 SH Sole 235475.0000 ASBURY AUTOMOTIVE GP COM COM 043436104 425 25785.0000 SH Sole 25785.0000 AT&T INC COM COM 00206R102 8563 300245.0000 SH Sole 300245.0000 Abbott Labs COM 002824100 22350 437035.0000 SH Sole 437035.0000 Apache Corp. COM 037411105 530 6610.0000 SH Sole 6610.0000 Berkshire Hathaway CL B COM 084670702 20682 291135.0000 SH Sole 291135.0000 CHESAPEAKE ENERGY CORP COM COM 165167107 14503 567615.0000 SH Sole 567615.0000 CONSOL ENERGY INC COM COM 20854P109 10041 295935.0000 SH Sole 295935.0000 COVIDIEN PLC SHS COM G2554F113 16992 385300.0000 SH Sole 385300.0000 Cisco Systems Inc COM 17275R102 15349 990255.0000 SH Sole 990255.0000 Citigroup Inc. COM 172967424 10057 392605.0000 SH Sole 392605.0000 Corning Inc. COM 219350105 5792 468594.0000 SH Sole 468594.0000 DISCOVER FINL SVCS COM COM 254709108 1344 58570.0000 SH Sole 58570.0000 DRAGONWAVE INC COM COM 26144M103 1228 372249.0000 SH Sole 372249.0000 Delta Air Lines COM 247361702 8584 1144555.0000 SH Sole 1144555.0000 Exelon Corp. COM 30161N101 17514 411025.0000 SH Sole 411025.0000 FUEL SYS SOLUTIONS INC COM COM 35952W103 4418 229988.0000 SH Sole 229988.0000 GILEAD SCIENCES INC COM COM 375558103 1981 51055.0000 SH Sole 51055.0000 HELIX ENERGY SOLUTIONS GROUP COM 42330P107 7742 590955.0000 SH Sole 590955.0000 Hospira, Inc. COM 441060100 6235 168510.0000 SH Sole 168510.0000 INNOVATIVE SOLTNS&SUPP COM COM 45769N105 2628 544015.0000 SH Sole 544015.0000 Intel Corp COM 458140100 22698 1063885.0000 SH Sole 1063885.0000 International Business Machine COM 459200101 1406 8043.0000 SH Sole 8043.0000 LABORATORY CORP OF AMERICA COM 50540R409 15348 194150.0000 SH Sole 194150.0000 LATTICE SEMICONDUCTOR CORP COM 518415104 4100 780880.0000 SH Sole 780880.0000 Microsoft Corp COM 594918104 21748 873775.0000 SH Sole 873775.0000 Novogen LTD COM 67010F103 164 264575.0000 SH Sole 264575.0000 Oracle Corp COM 68389X105 17128 595980.0000 SH Sole 595980.0000 PHILIP MORRIS INTL. INC. COM 718172109 24587 394142.3650 SH Sole 394142.3650 PNC Financial COM 693475105 18042 374400.0000 SH Sole 374400.0000 POWER ONE INC NEW COM COM 73930R102 1819 404150.0000 SH Sole 404150.0000 Pfizer Inc COM 717081103 10813 611615.0000 SH Sole 611615.0000 Pulte Homes, Inc. COM 745867101 806 204000.0000 SH Sole 204000.0000 REX ENERGY CORP COM 761565100 585 46275.0000 SH Sole 46275.0000 Rush Enterprises CLA COM 781846209 4388 309907.0000 SH Sole 309907.0000 Rush Enterprises CLB COM 781846308 372 31907.0000 SH Sole 31907.0000 SONIC AUTOMOTIVE INC CL A COM 83545G102 11556 1070980.0000 SH Sole 1070980.0000 Stanley Furniture Inc New COM 854305208 902 310940.0000 SH Sole 310940.0000 State Street Corp COM 857477103 13973 434488.0000 SH Sole 434488.0000 UnitedHealth Group Inc. COM 91324P102 20440 443199.0000 SH Sole 443199.0000 WESTPORT INNOVATIONS COM NEW COM 960908309 10291 355720.0000 SH Sole 355720.0000