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
ADVANCE AUTO PARTS INC COM 00751Y106 1,867 23,000 SH   SOLE   23,000 0 0
AGL RES INC COM 001204106 27,470 640,916 SH   SOLE   640,916 0 0
ALLIANT ENERGY CORP COM 018802108 3,252 64,492 SH   SOLE   64,492 0 0
ALTRIA GROUP INC COM 02209S103 2,624 75,000 SH   SOLE   75,000 0 0
AMEREN CORP COM 023608102 3,509 101,890 SH   SOLE   101,890 0 0
AMERICAN CAP LTD COM 02503Y103 2,217 175,000 SH   SOLE   175,000 0 0
AMERICAN EXPRESS CO COM 025816109 1,869 25,000 SH   SOLE   25,000 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 8,600 192,400 SH   SOLE   192,400 0 0
AMERICAN WOODMARK CORP COM 030506109 4,920 141,800 SH   SOLE   141,800 0 0
APOGEE ENTERPRISES INC COM 037598109 4,318 179,937 SH   SOLE   179,937 0 0
ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L104 1,643 146,700 SH   SOLE   146,700 0 0
ASTORIA FINL CORP COM 046265104 5,767 535,000 SH   SOLE   535,000 0 0
AT&T INC COM 00206R102 8,209 231,900 SH   SOLE   231,900 0 0
ATMOS ENERGY CORP COM 049560105 23,583 574,362 SH   SOLE   574,362 0 0
AUTOMATIC DATA PROCESSING INC COM 053015103 2,913 42,300 SH   SOLE   42,300 0 0
AVERY DENNISON CORP COM 053611109 4,815 112,600 SH   SOLE   112,600 0 0
AVIS BUDGET GROUP COM 053774105 5,431 188,900 SH   SOLE   188,900 0 0
AVISTA CORP COM 05379B107 2,107 77,972 SH   SOLE   77,972 0 0
AXIALL CORP COM 05463D100 9,661 226,900 SH   SOLE   226,900 0 0
BANCO SANTANDER SA ADR 05964H105 2,006 310,000 SH   SOLE   310,000 0 0
BANCORP INC DEL COM 05969A105 2,323 155,000 SH   SOLE   155,000 0 0
BANK OF AMERICA CORPORATION COM 060505104 3,266 254,000 SH   SOLE   254,000 0 0
BANKUNITED INC COM 06652K103 7,543 290,000 SH   SOLE   290,000 0 0
BANNER CORP COM NEW 06652V208 5,406 160,000 SH   SOLE   160,000 0 0
BAXTER INTL INC COM 071813109 1,772 25,575 SH   SOLE   25,575 0 0
BEACON ROOFING SUPPLY INC COM 073685109 11,553 305,000 SH   SOLE   305,000 0 0
BED BATH & BEYOND INC COM 075896100 2,042 28,800 SH   SOLE   28,800 0 0
BLACK HILLS CORP COM 092113109 2,686 55,100 SH   SOLE   55,100 0 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 3,264 155,000 SH   SOLE   155,000 0 0
BOEING CO COM 097023105 2,315 22,600 SH   SOLE   22,600 0 0
BP PLC SPONSORED ADR 055622104 2,392 57,300 SH   SOLE   57,300 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 3,106 69,500 SH   SOLE   69,500 0 0
BROOKDALE SR LIVING INC COM 112463104 4,167 157,600 SH   SOLE   157,600 0 0
BROOKLINE BANCORP INC DEL COM 11373M107 1,693 195,000 SH   SOLE   195,000 0 0
BRUNSWICK CORP COM 117043109 3,959 123,900 SH   SOLE   123,900 0 0
CABELAS INC COM 126804301 6,042 93,300 SH   SOLE   93,300 0 0
CALUMET SPECIALTY PRODS PTNRS UT LTD PARTNER 131476103 11,423 314,000 SH   SOLE   314,000 0 0
CAMPBELL SOUP CO COM 134429109 2,096 46,800 SH   SOLE   46,800 0 0
CAPITAL BK FINL CORP COM 139794101 1,519 80,000 SH   SOLE   80,000 0 0
CAPITAL ONE FINL CORP COM 14040H105 3,015 48,000 SH   SOLE   48,000 0 0
CAPITALSOURCE INC COM 14055X102 5,440 580,000 SH   SOLE   580,000 0 0
CARDINAL HEALTH INC COM 14149Y108 1,888 40,000 SH   SOLE   40,000 0 0
CARLISLE COS INC COM 142339100 4,125 66,200 SH   SOLE   66,200 0 0
CATAMARAN CORP COM 148887102 4,289 88,035 SH   SOLE   88,035 0 0
CATERPILLAR INC DEL COM 149123101 1,567 19,000 SH   SOLE   19,000 0 0
CELADON GROUP INC COM 150838100 3,968 217,400 SH   SOLE   217,400 0 0
CENTERPOINT ENERGY INC COM 15189T107 22,896 974,726 SH   SOLE   974,726 0 0
CENTURYLINK INC COM 156700106 2,202 62,300 SH   SOLE   62,300 0 0
CHEMTURA CORP COM NEW 163893209 6,894 339,600 SH   SOLE   339,600 0 0
CHENIERE ENERGY INC COM NEW 16411R208 36,773 1,324,692 SH   SOLE   1,324,692 0 0
CHESAPEAKE UTILS CORP COM 165303108 2,506 48,679 SH   SOLE   48,679 0 0
CHEVRON CORP NEW COM 166764100 8,313 70,250 SH   SOLE   70,250 0 0
CHICOS FAS INC COM 168615102 5,365 314,500 SH   SOLE   314,500 0 0
CIGNA CORPORATION COM 125509109 5,343 73,700 SH   SOLE   73,700 0 0
CISCO SYS INC COM 17275R102 888 36,530 SH   SOLE   36,530 0 0
CIT GROUP INC COM NEW 125581801 2,705 58,000 SH   SOLE   58,000 0 0
CITIGROUP INC COM NEW 172967424 3,358 70,000 SH   SOLE   70,000 0 0
CMS ENERGY CORP COM 125896100 14,649 539,148 SH   SOLE   539,148 0 0
CONAGRA FOODS INC COM 205887102 2,707 77,500 SH   SOLE   77,500 0 0
CONOCOPHILLIPS COM 20825C104 4,392 72,600 SH   SOLE   72,600 0 0
CONSOLIDATED EDISON INC COM 209115104 18,151 311,281 SH   SOLE   311,281 0 0
COOPER TIRE & RUBR CO COM 216831107 8,273 249,400 SH   SOLE   249,400 0 0
CORNING NAT GAS CORP COM 219381100 255 15,135 SH   SOLE   15,135 0 0
COWEN GROUP INC NEW CL A 223622101 1,233 425,000 SH   SOLE   425,000 0 0
CUMMINS INC COM 231021106 1,725 15,900 SH   SOLE   15,900 0 0
DEERE & CO COM 244199105 1,593 19,600 SH   SOLE   19,600 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 8,608 460,100 SH   SOLE   460,100 0 0
DELTA NAT GAS INC COM 247748106 935 43,993 SH   SOLE   43,993 0 0
DILLARDS INC CL A 254067101 5,730 69,900 SH   SOLE   69,900 0 0
DINEEQUITY INC COM 254423106 4,112 59,700 SH   SOLE   59,700 0 0
DIRECTV COM 25490A309 2,064 33,500 SH   SOLE   33,500 0 0
DISCOVER FINL SVCS COM 254709108 3,097 65,000 SH   SOLE   65,000 0 0
DOLLAR TREE INC COM 256746108 2,196 43,200 SH   SOLE   43,200 0 0
DOMINION RES INC VA NEW COM 25746U109 42,027 739,659 SH   SOLE   739,659 0 0
DOW CHEM CO COM 260543103 2,532 78,700 SH   SOLE   78,700 0 0
DR PEPPER SNAPPLE GROUP INC COM 26138E109 1,732 37,700 SH   SOLE   37,700 0 0
DREW INDS INC COM NEW 26168L205 4,600 117,000 SH   SOLE   117,000 0 0
DTE ENERGY CO COM 233331107 14,886 222,148 SH   SOLE   222,148 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 9,020 171,800 SH   SOLE   171,800 0 0
DUKE ENERGY CORP NEW COM NEW 26441C204 6,671 98,837 SH   SOLE   98,837 0 0
DXP ENTERPRISES INC NEW COM NEW 233377407 4,975 74,700 SH   SOLE   74,700 0 0
EMCOR GROUP INC COM 29084Q100 4,768 117,300 SH   SOLE   117,300 0 0
EMPIRE DIST ELEC CO COM 291641108 457 20,500 SH   SOLE   20,500 0 0
ENBRIDGE INC COM 29250N105 48,656 1,156,551 SH   SOLE   1,156,551 0 0
ENCORE CAP GROUP INC COM 292554102 7,284 220,000 SH   SOLE   220,000 0 0
ENERGEN CORP COM 29265N108 5,759 110,192 SH   SOLE   110,192 0 0
ENERGY TRANSFER EQUITY L P COM UT LTD PTN 29273V100 50,166 838,624 SH   SOLE   838,624 0 0
EQT CORP COM 26884L109 7,854 98,960 SH   SOLE   98,960 0 0
EVERBANK FINL CORP COM 29977G102 4,388 265,000 SH   SOLE   265,000 0 0
EXELON CORP COM 30161N101 9,523 308,381 SH   SOLE   308,381 0 0
EXTERRAN HLDGS INC COM 30225X103 8,239 293,000 SH   SOLE   293,000 0 0
EXXON MOBIL CORP COM 30231G102 1,708 18,900 SH   SOLE   18,900 0 0
FAMILY DLR STORES INC COM 307000109 1,583 25,400 SH   SOLE   25,400 0 0
FIDELITY NATIONAL FINANCIAL CL A 31620R105 4,148 174,200 SH   SOLE   174,200 0 0
FIFTH & PAC COS INC COM 316645100 5,889 263,600 SH   SOLE   263,600 0 0
FIFTH THIRD BANCORP COM 316773100 1,733 96,000 SH   SOLE   96,000 0 0
FIRST AMERN FINL CORP COM 31847R102 5,609 254,500 SH   SOLE   254,500 0 0
FIRST BANCORP P R COM NEW 318672706 7,576 1,070,000 SH   SOLE   1,070,000 0 0
FIRST CONN BANCORP INC MD COM 319850103 2,436 175,000 SH   SOLE   175,000 0 0
FIRST HORIZON NATL CORP COM 320517105 1,736 155,000 SH   SOLE   155,000 0 0
FIRST NIAGARA FINL GP INC COM 33582V108 2,669 265,000 SH   SOLE   265,000 0 0
FLAGSTAR BANCORP INC COM PAR .001 337930705 7,120 510,000 SH   SOLE   510,000 0 0
FLUOR CORP NEW COM 343412102 1,744 29,400 SH   SOLE   29,400 0 0
FLUSHING FINL CORP COM 343873105 6,169 375,000 SH   SOLE   375,000 0 0
FOOT LOCKER INC COM 344849104 1,806 51,400 SH   SOLE   51,400 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 3,046 196,900 SH   SOLE   196,900 0 0
FORESTAR GROUP INC COM 346233109 4,714 235,000 SH   SOLE   235,000 0 0
FREEPORT-MCMORAN COP & GLD COM 35671D857 3,404 123,300 SH   SOLE   123,300 0 0
FULTON FINL CORP PA COM 360271100 4,018 350,000 SH   SOLE   350,000 0 0
GAP INC DEL COM 364760108 2,224 53,300 SH   SOLE   53,300 0 0
GAS NAT INC COM 367204104 369 35,842 SH   SOLE   35,842 0 0
GENERAL DYNAMICS CORP COM 369550108 4,982 63,600 SH   SOLE   63,600 0 0
GENERAL ELECTRIC CO COM 369604103 6,578 283,650 SH   SOLE   283,650 0 0
GENERAL MLS INC COM 370334104 2,951 60,800 SH   SOLE   60,800 0 0
GENESIS ENERGY L P UNIT LTD PARTN 371927104 5,230 100,900 SH   SOLE   100,900 0 0
GENWORTH FINL INC COM CL A 37247D106 6,447 565,000 SH   SOLE   565,000 0 0
GEO GROUP INC COM 36159R103 8,358 246,193 SH   SOLE   246,193 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 2,803 56,100 SH   SOLE   56,100 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 2,269 15,000 SH   SOLE   15,000 0 0
GRACE W R & CO DEL NEW COM 38388F108 7,664 91,200 SH   SOLE   91,200 0 0
GRAMERCY PPTY TR INC COM 38489R100 2,048 455,000 SH   SOLE   455,000 0 0
GREEN DOT CORP CL A 39304D102 1,995 100,000 SH   SOLE   100,000 0 0
HALLIBURTON CO COM 406216101 2,086 50,000 SH   SOLE   50,000 0 0
HCA HOLDINGS INC COM 40412C101 1,958 54,300 SH   SOLE   54,300 0 0
HEARTLAND PMT SYS INC COM 42235N108 3,166 85,000 SH   SOLE   85,000 0 0
HELMERICH & PAYNE INC COM 423452101 1,930 30,900 SH   SOLE   30,900 0 0
HERTZ GLOBAL HOLDINGS INC COM 42805T105 5,724 230,800 SH   SOLE   230,800 0 0
HEWLETT PACKARD CO COM 428236103 1,834 73,950 SH   SOLE   73,950 0 0
HINGHAM INSTN SVGS MASS COM 433323102 6,381 94,000 SH   SOLE   94,000 0 0
HOLLYFRONTIER CORP COM 436106108 7,790 182,100 SH   SOLE   182,100 0 0
HOME DEPOT INC COM 437076102 5,167 66,700 SH   SOLE   66,700 0 0
HOME LN SERVICING SOLUTIONS ORD SHS G6648D109 5,873 245,000 SH   SOLE   245,000 0 0
HOMESTREET INC COM 43785V102 6,971 325,000 SH   SOLE   325,000 0 0
HSBC HLDGS PLC SPON ADR NEW 404280406 2,341 45,100 SH   SOLE   45,100 0 0
HUNTINGTON BANCSHARES INC COM 446150104 2,600 330,000 SH   SOLE   330,000 0 0
HUNTSMAN CORP COM 447011107 5,813 351,000 SH   SOLE   351,000 0 0
INDEPENDENT BANK CORP MASS COM 453836108 1,380 40,000 SH   SOLE   40,000 0 0
INNERWORKINGS INC COM 45773Y105 3,535 325,765 SH   SOLE   325,765 0 0
INNOSPEC INC COM 45768S105 4,396 109,400 SH   SOLE   109,400 0 0
INTEGRYS ENERGY GROUP INC COM 45822P105 15,020 256,621 SH   SOLE   256,621 0 0
INTEL CORP COM 458140100 11,135 459,750 SH   SOLE   459,750 0 0
INTL PAPER CO COM 460146103 2,681 60,500 SH   SOLE   60,500 0 0
INVESTORS BANCORP INC COM 46146P102 1,939 92,000 SH   SOLE   92,000 0 0
JARDEN CORP COM 471109108 12,589 287,750 SH   SOLE   287,750 0 0
JOHNSON & JOHNSON COM 478160104 8,874 103,350 SH   SOLE   103,350 0 0
JOY GLOBAL INC COM 481165108 1,349 27,800 SH   SOLE   27,800 0 0
JPMORGAN CHASE & CO. COM 46625H100 6,261 118,600 SH   SOLE   118,600 0 0
KB HOME COM 48666K109 12,787 651,400 SH   SOLE   651,400 0 0
KELLOGG CO COM 487836108 2,807 43,700 SH   SOLE   43,700 0 0
KEYCORP NEW COM 493267108 2,705 245,000 SH   SOLE   245,000 0 0
KIMBERLY CLARK CORP COM 494368103 2,768 28,500 SH   SOLE   28,500 0 0
KINDER MORGAN INC DEL COM 49456B101 49,787 1,305,025 SH   SOLE   1,305,025 0 0
KKR FINL HLDGS LLC COM 48248A306 5,803 550,000 SH   SOLE   550,000 0 0
KLA-TENCOR CORP COM 482480100 2,006 36,000 SH   SOLE   36,000 0 0
KOHLS CORP COM 500255104 1,929 38,200 SH   SOLE   38,200 0 0
KRAFT FOODS GROUP INC COM 50076Q106 3,159 56,534 SH   SOLE   56,534 0 0
KROGER CO COM 501044101 2,197 63,600 SH   SOLE   63,600 0 0
LACLEDE GROUP INC COM 505597104 8,029 175,849 SH   SOLE   175,849 0 0
LENNOX INTL INC COM 526107107 4,892 75,800 SH   SOLE   75,800 0 0
LILLY ELI & CO COM 532457108 4,033 82,100 SH   SOLE   82,100 0 0
LITHIA MTRS INC CL A 536797103 5,624 105,500 SH   SOLE   105,500 0 0
LOCKHEED MARTIN CORP COM 539830109 5,206 48,000 SH   SOLE   48,000 0 0
LOWES COS INC COM 548661107 4,704 115,000 SH   SOLE   115,000 0 0
MARATHON OIL CORP COM 565849106 1,919 55,500 SH   SOLE   55,500 0 0
MARATHON PETE CORP COM 56585A102 1,926 27,100 SH   SOLE   27,100 0 0
MASCO CORP COM 574599106 7,287 373,900 SH   SOLE   373,900 0 0
MBIA INC COM 55262C100 7,121 535,000 SH   SOLE   535,000 0 0
MCDONALDS CORP COM 580135101 6,574 66,400 SH   SOLE   66,400 0 0
MDU RES GROUP INC COM 552690109 11,002 424,607 SH   SOLE   424,607 0 0
MERCK & CO INC NEW COM 58933Y105 9,021 194,200 SH   SOLE   194,200 0 0
MERITAGE HOMES CORP COM 59001A102 6,838 157,700 SH   SOLE   157,700 0 0
METLIFE INC COM 59156R108 2,288 50,000 SH   SOLE   50,000 0 0
MGE ENERGY INC COM 55277P104 1,315 24,017 SH   SOLE   24,017 0 0
MGIC INVT CORP WIS COM 552848103 7,072 1,165,000 SH   SOLE   1,165,000 0 0
MICROSOFT CORP COM 594918104 4,845 140,300 SH   SOLE   140,300 0 0
MOHAWK INDS INC COM 608190104 12,396 110,200 SH   SOLE   110,200 0 0
MONEYGRAM INTL INC COM NEW 60935Y208 453 20,000 SH   SOLE   20,000 0 0
MORGAN STANLEY COM NEW 617446448 2,932 120,000 SH   SOLE   120,000 0 0
MWI VETERINARY SUPPLY INC COM 55402X105 4,437 36,000 SH   SOLE   36,000 0 0
NATIONAL FUEL GAS CO N J COM 636180101 19,861 342,718 SH   SOLE   342,718 0 0
NATIONAL GRID PLC SPON ADR NEW 636274300 48,928 863,385 SH   SOLE   863,385 0 0
NATIONSTAR MTG HLDGS INC COM 63861C109 6,814 182,000 SH   SOLE   182,000 0 0
NEW JERSEY RES COM 646025106 8,727 210,142 SH   SOLE   210,142 0 0
NEWMONT MINING CORP COM 651639106 1,755 58,600 SH   SOLE   58,600 0 0
NISOURCE INC COM 65473P105 34,114 1,191,131 SH   SOLE   1,191,131 0 0
NORDSTROM INC COM 655664100 1,924 32,100 SH   SOLE   32,100 0 0
NORFOLK SOUTHERN CORP COM 655844108 2,674 36,800 SH   SOLE   36,800 0 0
NORTHEAST UTILS COM 664397106 5,987 142,475 SH   SOLE   142,475 0 0
NORTHSTAR RLTY FIN CORP COM 66704R100 6,006 660,000 SH   SOLE   660,000 0 0
NORTHWEST NAT GAS CO COM 667655104 6,863 161,564 SH   SOLE   161,564 0 0
NORTHWESTERN CORP COM NEW 668074305 2,968 74,398 SH   SOLE   74,398 0 0
NUCOR CORP COM 670346105 2,365 54,600 SH   SOLE   54,600 0 0
NV ENERGY INC COM 67073Y106 972 41,450 SH   SOLE   41,450 0 0
OCEANFIRST FINL CORP COM 675234108 3,505 225,400 SH   SOLE   225,400 0 0
OCWEN FINL CORP COM NEW 675746309 6,678 162,000 SH   SOLE   162,000 0 0
ONEOK INC NEW COM 682680103 36,573 885,329 SH   SOLE   885,329 0 0
OPPENHEIMER HLDGS INC CL A NON VOTING 683797104 2,508 131,706 SH   SOLE   131,706 0 0
PACCAR INC COM 693718108 2,050 38,200 SH   SOLE   38,200 0 0
PAPA JOHNS INTL INC COM 698813102 5,341 81,700 SH   SOLE   81,700 0 0
PAREXEL INTL CORP COM 699462107 9,050 197,000 SH   SOLE   197,000 0 0
PARKER HANNIFIN CORP COM 701094104 1,918 20,100 SH   SOLE   20,100 0 0
PENNYMAC MTG INVT TR COM 70931T103 4,568 217,000 SH   SOLE   217,000 0 0
PEPCO HOLDINGS INC COM 713291102 1,161 57,604 SH   SOLE   57,604 0 0
PEPSICO INC COM 713448108 2,887 35,300 SH   SOLE   35,300 0 0
PFIZER INC COM 717081103 8,945 319,350 SH   SOLE   319,350 0 0
PG&E CORP COM 69331C108 32,699 715,055 SH   SOLE   715,055 0 0
PHH CORP COM NEW 693320202 5,605 275,000 SH   SOLE   275,000 0 0
PHILIP MORRIS INTL INC COM 718172109 2,521 29,100 SH   SOLE   29,100 0 0
PIEDMONT NAT GAS INC COM 720186105 16,787 497,544 SH   SOLE   497,544 0 0
PIER 1 IMPORTS INC COM 720279108 11,597 493,700 SH   SOLE   493,700 0 0
PIPER JAFFRAY COS COM 724078100 1,264 40,000 SH   SOLE   40,000 0 0
PNC FINL SVCS GROUP INC COM 693475105 3,208 44,000 SH   SOLE   44,000 0 0
POPULAR INC COM NEW 733174700 7,431 245,000 SH   SOLE   245,000 0 0
PORTFOLIO RECOVERY ASSOCS COM 73640Q105 1,997 13,000 SH   SOLE   13,000 0 0
PPL CORP COM 69351T106 2,573 85,035 SH   SOLE   85,035 0 0
PRIVATEBANCORP INC COM 742962103 1,697 80,000 SH   SOLE   80,000 0 0
PROCTER & GAMBLE CO COM 742718109 6,286 81,650 SH   SOLE   81,650 0 0
PRUDENTIAL FINL INC COM 744320102 2,045 28,000 SH   SOLE   28,000 0 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 18,609 569,790 SH   SOLE   569,790 0 0
PVH CORP COM 693656100 11,342 90,700 SH   SOLE   90,700 0 0
QUESTAR CORP COM 748356102 22,398 939,115 SH   SOLE   939,115 0 0
RADIAN GROUP INC COM 750236101 5,113 440,000 SH   SOLE   440,000 0 0
RAIT FINANCIAL TRUST COM NEW 749227609 5,452 725,000 SH   SOLE   725,000 0 0
RAYTHEON CO COM NEW 755111507 5,144 77,800 SH   SOLE   77,800 0 0
REGIONS FINL CORP NEW COM 7591EP100 3,240 340,000 SH   SOLE   340,000 0 0
RGC RES INC COM 74955L103 677 33,410 SH   SOLE   33,410 0 0
ROCKVILLE FINL INC NEW COM 774188106 3,008 230,000 SH   SOLE   230,000 0 0
ROCKWELL COLLINS INC COM 774341101 1,877 29,600 SH   SOLE   29,600 0 0
ROYAL DUTCH SHELL PLC SPONSORED ADR 780259107 2,333 35,200 SH   SOLE   35,200 0 0
SCANA CORP NEW COM 80589M102 7,553 153,823 SH   SOLE   153,823 0 0
SCHULMAN A INC COM 808194104 3,760 140,200 SH   SOLE   140,200 0 0
SEMPRA ENERGY COM 816851109 48,658 595,134 SH   SOLE   595,134 0 0
SERVICE CORP INTL COM 817565104 5,167 286,600 SH   SOLE   286,600 0 0
SMITH A O COM 831865209 7,144 196,900 SH   SOLE   196,900 0 0
SNAP ON INC COM 833034101 6,802 76,100 SH   SOLE   76,100 0 0
SOUTH JERSEY INDS INC COM 838518108 8,754 152,485 SH   SOLE   152,485 0 0
SOUTHWEST GAS CORP COM 844895102 14,038 300,023 SH   SOLE   300,023 0 0
SPECTRA ENERGY CORP COM 847560109 48,956 1,420,660 SH   SOLE   1,420,660 0 0
STANDARD PAC CORP NEW COM 85375C101 7,239 869,000 SH   SOLE   869,000 0 0
STEELCASE INC CL A 858155203 4,921 337,500 SH   SOLE   337,500 0 0
STEPAN CO COM 858586100 4,015 72,200 SH   SOLE   72,200 0 0
STERLING FINL CORP WASH COM NEW 859319303 7,372 310,000 SH   SOLE   310,000 0 0
STEWART INFORMATION SVCS CORP COM COM 860372101 4,460 170,300 SH   SOLE   170,300 0 0
SUNTRUST BKS INC COM 867914103 3,220 102,000 SH   SOLE   102,000 0 0
SUSQUEHANNA BANCSHARES INC COM 869099101 1,863 145,000 SH   SOLE   145,000 0 0
SWS GROUP INC COM 78503N107 622 114,136 SH   SOLE   114,136 0 0
SYNOVUS FINL CORP COM 87161C105 6,497 2,225,000 SH   SOLE   2,225,000 0 0
SYSCO CORP COM 871829107 2,729 79,900 SH   SOLE   79,900 0 0
TARGA RES CORP COM 87612G101 4,619 71,800 SH   SOLE   71,800 0 0
TCF FINL CORP COM 872275102 1,985 140,000 SH   SOLE   140,000 0 0
TEAM INC COM 878155100 3,785 100,000 SH   SOLE   100,000 0 0
TECO ENERGY INC COM 872375100 3,092 179,890 SH   SOLE   179,890 0 0
TEREX CORP NEW COM 880779103 3,390 128,900 SH   SOLE   128,900 0 0
TERRITORIAL BANCORP INC COM 88145X108 2,374 105,000 SH   SOLE   105,000 0 0
THOR INDS INC COM 885160101 6,772 137,700 SH   SOLE   137,700 0 0
3M CO COM 88579Y101 1,979 18,100 SH   SOLE   18,100 0 0
TIME WARNER CABLE INC COM 88732J207 3,194 28,400 SH   SOLE   28,400 0 0
TORO CO COM 891092108 4,464 98,300 SH   SOLE   98,300 0 0
TOTAL S A SPONSORED ADR 89151E109 2,274 46,700 SH   SOLE   46,700 0 0
TRANSCANADA CORP COM 89353D107 48,417 1,123,102 SH   SOLE   1,123,102 0 0
TRAVELERS COMPANIES INC COM 89417E109 1,598 20,000 SH   SOLE   20,000 0 0
TRIMAS CORP COM NEW 896215209 5,391 144,600 SH   SOLE   144,600 0 0
U S AIRWAYS GROUP INC COM 90341W108 7,397 450,500 SH   SOLE   450,500 0 0
U S G CORP COM NEW 903293405 8,588 372,600 SH   SOLE   372,600 0 0
UGI CORP NEW COM 902681105 8,973 229,435 SH   SOLE   229,435 0 0
UIL HLDG CORP COM 902748102 5,340 139,612 SH   SOLE   139,612 0 0
UNIFIRST CORP MASS COM 904708104 4,882 53,500 SH   SOLE   53,500 0 0
UNILEVER N V N Y SHS NEW 904784709 2,473 62,900 SH   SOLE   62,900 0 0
UNILEVER PLC SPON ADR NEW 904767704 2,532 62,600 SH   SOLE   62,600 0 0
UNION PAC CORP COM 907818108 2,067 13,400 SH   SOLE   13,400 0 0
UNITED FINANCIAL BANCORP INC COM 91030T109 3,034 200,294 SH   SOLE   200,294 0 0
UNITED PARCEL SERVICE INC CL B 911312106 2,776 32,100 SH   SOLE   32,100 0 0
UNITEDHEALTH GROUP INC COM 91324P102 2,017 30,800 SH   SOLE   30,800 0 0
UNITIL CORP COM 913259107 1,361 47,126 SH   SOLE   47,126 0 0
UNS ENERGY CORP COM 903119105 800 17,880 SH   SOLE   17,880 0 0
US BANCORP DEL COM NEW 902973304 1,085 30,000 SH   SOLE   30,000 0 0
VALMONT INDS INC COM 920253101 10,417 72,800 SH   SOLE   72,800 0 0
VECTREN CORP COM 92240G101 7,068 208,916 SH   SOLE   208,916 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 9,461 187,950 SH   SOLE   187,950 0 0
VIACOM INC NEW CL B 92553P201 2,137 31,400 SH   SOLE   31,400 0 0
VISA INC CL A 92826C839 3,290 18,000 SH   SOLE   18,000 0 0
WALTER INVT MGMT CORP COM 93317W102 5,984 177,000 SH   SOLE   177,000 0 0
WASHINGTON FED INC COM 938824109 2,454 130,000 SH   SOLE   130,000 0 0
WASTE MGMT INC DEL COM 94106L109 2,847 70,600 SH   SOLE   70,600 0 0
WELLS FARGO & CO NEW COM 949746101 4,870 118,000 SH   SOLE   118,000 0 0
WESTERN DIGITAL CORP COM 958102105 2,974 47,900 SH   SOLE   47,900 0 0
WESTERN UN CO COM 959802109 2,164 126,500 SH   SOLE   126,500 0 0
WGL HLDGS INC COM 92924F106 13,246 306,487 SH   SOLE   306,487 0 0
WHIRLPOOL CORP COM 963320106 6,896 60,300 SH   SOLE   60,300 0 0
WILLIAMS COS INC DEL COM 969457100 49,112 1,512,529 SH   SOLE   1,512,529 0 0
WINTRUST FINANCIAL CORP COM 97650W108 3,445 90,000 SH   SOLE   90,000 0 0
WISCONSIN ENERGY CORP COM 976657106 6,782 165,460 SH   SOLE   165,460 0 0
WORTHINGTON INDS INC COM 981811102 4,925 155,300 SH   SOLE   155,300 0 0
WSFS FINL CORP COM 929328102 2,855 54,500 SH   SOLE   54,500 0 0
XCEL ENERGY INC COM 98389B100 10,267 362,291 SH   SOLE   362,291 0 0