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
AMERICAN INTL GROUP INC COM NEW 026874784 67,183 1,502,966 SH   OTR 1,2 1,502,966 0 0
AMERIPRISE FINL INC COM 03076C106 16,648 205,840 SH   OTR 1,2 205,840 0 0
APCO OIL & GAS INTERNATIONAL SHS G0471F109 3,214 278,759 SH   OTR 1,2 278,759 0 0
BEAZER HOMES USA INC COM NEW 07556Q881 6,042 344,859 SH   OTR 1,2 344,859 0 0
CHENIERE ENERGY INC COM NEW 16411R208 54,612 1,967,308 SH   OTR 1,2 1,967,308 0 0
CHENIERE ENERGY PARTNERS LP COM UNIT 16411Q101 7,613 254,693 SH   OTR 1,2 254,693 0 0
CITIGROUP INC COM NEW 172967424 38,635 805,393 SH   OTR 1,2 805,393 0 0
DANA HLDG CORP COM 235825205 10,894 565,605 SH   OTR 1,2 565,605 0 0
DELPHI AUTOMOTIVE PLC SHS G27823106 17,054 336,434 SH   OTR 1,2 336,434 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 16,764 1,324,166 SH   OTR 1,2 1,324,166 0 0
ENERGY XXI (BERMUDA) LTD USD UNRS SHS G10082140 8,451 381,099 SH   OTR 1,2 381,099 0 0
EQT CORP COM 26884L109 32,882 414,282 SH   OTR 1,2 414,282 0 0
GENERAL MTRS CO COM 37045V100 54,168 1,626,170 SH   OTR 1,2 1,626,170 0 0
GENERAL MTRS CO *w EXP 07/10/201 37045V118 1,314 54,747 SH   OTR 1,2 54,747 0 0
GENERAL MTRS CO *w EXP 07/10/201 37045V126 895 54,747 SH   OTR 1,2 54,747 0 0
CANADIAN NAT RES LTD COM 136385101 24 55,000 SH Call OTR 1,2 0 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 831 1,204,400 SH Call OTR 1,2 0 0 0
HALLIBURTON CO COM 406216101 22,502 539,347 SH   OTR 1,2 539,347 0 0
HCA HOLDINGS INC COM 40412C101 20,151 558,821 SH   OTR 1,2 558,821 0 0
HERTZ GLOBAL HOLDINGS INC COM 42805T105 39,745 1,602,615 SH   OTR 1,2 1,602,615 0 0
KBR INC COM 48242W106 13,717 422,066 SH   OTR 1,2 422,066 0 0
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 26,026 392,793 SH   OTR 1,2 392,793 0 0
MASCO CORP COM 574599106 13,459 690,561 SH   OTR 1,2 690,561 0 0
METLIFE INC COM 59156R108 17,079 373,220 SH   OTR 1,2 373,220 0 0
MGIC INVT CORP WIS COM 552848103 3,755 618,651 SH   OTR 1,2 618,651 0 0
MORGAN STANLEY COM NEW 617446448 33,319 1,363,873 SH   OTR 1,2 1,363,873 0 0
NXP SEMICONDUCTORS N V COM N6596X109 6,996 225,522 SH   OTR 1,2 225,522 0 0
OWENS CORNING NEW COM 690742101 21,501 550,173 SH   OTR 1,2 550,173 0 0
ROCKWOOD HLDGS INC COM 774415103 14,772 230,698 SH   OTR 1,2 230,698 0 0
SEMGROUP CORP CL A 81663A105 55,542 1,031,221 SH   OTR 1,2 1,031,221 0 0
UNITED CONTL HLDGS INC COM 910047109 6,442 205,886 SH   OTR 1,2 205,886 0 0
UNITED RENTALS INC COM 911363109 9,962 199,595 SH   OTR 1,2 199,595 0 0
U S AIRWAYS GROUP INC COM 90341W108 6,371 387,980 SH   OTR 1,2 387,980 0 0
VISTEON CORP COM NEW 92839U206 14,939 236,669 SH   OTR 1,2 236,669 0 0
YPF SOCIEDAD ANONIMA SPON ADR CL D 984245100 52,783 3,576,092 SH   OTR 1,2 3,576,092 0 0