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
ARCH CAP GROUP LTD ORD G0450A105 9,470 184,200 SH   SOLE 184,200 0 0
BLOUNT INTL INC NEW COM 095180105 662 56,024 SH   SOLE 56,024 0 0
CAPELLA EDUCATION COMPANY COM 139594105 6,081 146,000 SH   SOLE 146,000 0 0
CEVA INC COM 157210105 5,305 274,000 SH   SOLE 274,000 0 0
CHESAPEAKE ENERGY CORP COM 165167107 5,596 274,600 SH   SOLE 274,600 0 0
CITRIX SYS INC COM 177376100 2,022 33,500 SH   SOLE 33,500 0 0
CORELOGIC INC COM 21871D103 1,012 43,675 SH   SOLE 43,675 0 0
DELTIC TIMBER CORP COM 247850100 1,151 19,913 SH   SOLE 19,913 0 0
EXELIS INC COM 30162A108 552 40,000 SH   SOLE 40,000 0 0
EXTERRAN HLDGS INC COM 30225X103 3,270 116,300 SH   SOLE 116,300 0 0
GENWORTH FINL INC COM CL A 37247D106 9,470 830,000 SH   SOLE 830,000 0 0
GENWORTH FINL INC COM CL A 37247D106 80 150,000 SH Put SOLE 150,000 0 0
HOLLYFRONTIER CORP COM 436106108 2,537 59,300 SH   SOLE 59,300 0 0
ISHARES TR RUSSELL 2000 464287655 350 134,000 SH Put SOLE 134,000 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409 3,864 38,600 SH   SOLE 38,600 0 0
LENDER PROCESSING SVCS INC COM 52602E102 8,839 273,233 SH   SOLE 273,233 0 0
LINCOLN ELEC HLDGS INC COM 533900106 2,721 47,514 SH   SOLE 47,514 0 0
MBIA INC COM 55262C100 3,069 230,571 SH   SOLE 230,571 0 0
MGIC INVT CORP WIS COM 552848103 7,102 1,170,000 SH   SOLE 1,170,000 0 0
NASDAQ OMX GROUP INC COM 631103108 7,948 242,400 SH   SOLE 242,400 0 0
PACCAR INC COM 693718108 805 15,000 SH   SOLE 15,000 0 0
PLUM CREEK TIMBER CO INC COM 729251108 1,881 40,300 SH   SOLE 40,300 0 0
RAYTHEON CO COM NEW 755111507 6,070 91,800 SH   SOLE 91,800 0 0
RF MICRODEVICES INC COM 749941100 6,419 1,200,900 SH   SOLE 1,200,900 0 0
SONUS NETWORKS INC COM 835916107 1,629 541,200 SH   SOLE 541,200 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 163 64,400 SH Put SOLE 64,400 0 0
SYNOPSYS INC COM 871607107 9,107 254,744 SH   SOLE 254,744 0 0
TEMPUR PEDIC INTL INC COM 88023U101 6,585 150,000 SH   SOLE 150,000 0 0
WEATHERFORD INTERNATIONAL LT REG SHS H27013103 4,092 298,667 SH   SOLE 298,667 0 0
WELLPOINT INC COM 94973V107 9,624 117,599 SH   SOLE 117,599 0 0
XILINX INC COM 983919101 1,981 50,000 SH   SOLE 50,000 0 0
XYLEM INC COM 98419m100 700 26,000 SH   SOLE 26,000 0 0