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
XL GROUP PLC SHS G98290102 23,715 769,452 SH   SOLE   769,452 0 0
WYNDHAM WORLDWIDE CORP COM 98310W108 26,606 436,375 SH   SOLE   436,375 0 0
VISA INC COM CL A 92826C839 4,744 24,824 SH   SOLE   24,824 0 0
TOWER GROUP INTL LTD COM G8988C105 2,450 350,000 SH   SOLE   350,000 0 0
TIME WARNER CABLE INC COM 88732J207 10,754 96,363 SH   SOLE   96,363 0 0
T-MOBILE US INC COM 872590104 10,788 415,397 SH   SOLE   415,397 0 0
TALISMAN ENERGY INC COM 87425E103 322 27,982 SH   SOLE   27,982 0 0
SUSSER HLDGS CORP COM 869233106 14,298 269,008 SH   SOLE   269,008 0 0
U S SILICA HLDGS INC COM 90346E103 2,958 118,798 SH   SOLE   118,798 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 12,978 376,079 SH   SOLE   376,079 0 0
PINNACLE ENTMT INC COM 723456109 12,375 493,998 SH   SOLE   493,998 0 0
NEWS CORP NEW CL A 65249B109 12,168 757,661 SH   SOLE   757,661 0 0
NEWMONT MINING CORP COM 651639106 4,384 156,032 SH   SOLE   156,032 0 0
NCR CORP NEW COM 62886E108 22,372 564,807 SH   SOLE   564,807 0 0
NABORS INDUSTRIES LTD SHS G6359F103 11,710 729,168 SH   SOLE   729,168 0 0
MELCO CROWN ENTMT LTD ADR 585464100 13,736 431,547 SH   SOLE   431,547 0 0
MEADOWBROOK INS GROUP INC COM 58319P108 1,256 193,251 SH   SOLE   193,251 0 0
MFA FINL INC COM 55272X102 671 90,000 SH   SOLE   90,000 0 0
MASTERCARD INC CL A 57636Q104 2,303 3,423 SH   SOLE   3,423 0 0
LIFE TIME FITNESS INC COM 53217R207 20,847 405,029 SH   SOLE   405,029 0 0
LOCKHEED MARTIN CORP COM 539830109 788 6,178 SH   SOLE   6,178 0 0
JPMORGAN CHASE & CO COM 46625H100 1,953 37,789 SH   SOLE   37,789 0 0
STARWOOD HOTELS&RESORTS WRLD COM 85590A401 25,475 383,372 SH   SOLE   383,372 0 0
GRAY TELEVISION INC COM 389375106 831 105,860 SH   SOLE   105,860 0 0
GOLDCORP INC NEW COM 380956409 5,303 203,878 SH   SOLE   203,878 0 0
GOODRICH PETE CORP COM NEW 382410405 11,082 456,242 SH   SOLE   456,242 0 0
FIRST HORIZON NATL CORP COM 320517105 550 50,000 SH   SOLE   50,000 0 0
EAGLE MATERIALS INC COM 26969P108 21,275 293,246 SH   SOLE   293,246 0 0
ENCANA CORP COM 292505104 306 17,649 SH   SOLE   17,649 0 0
EBAY INC COM 278642103 16,890 302,717 SH   SOLE   302,717 0 0
CYRUSONE INC COM 23283R100 2,561 134,781 SH   SOLE   134,781 0 0
CAPITAL ONE FINL CORP COM 14040H105 18,848 274,192 SH   SOLE   274,192 0 0
CARMIKE CINEMAS INC COM 143436400 6,364 288,236 SH   SOLE   288,236 0 0
CHIMERA INVT CORP COM 16934Q109 356 116,942 SH   SOLE   116,942 0 0
AGNICO EAGLE MINES LTD COM 008474108 3,932 148,559 SH   SOLE   148,559 0 0
ARMSTRONG WORLD INDS INC NEW COM 04247X102 1,038 18,881 SH   SOLE   18,881 0 0
APOLLO COML REAL EST FIN INC COM 03762U105 483 31,608 SH   SOLE   31,608 0 0
ARES COML REAL ESTATE CORP COM 04013V108 503 40,452 SH   SOLE   40,452 0 0