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
3M CO COM 88579Y101 203 1,420 SH   SOLE   1,420 0 0
ABBVIE INC COM 00287Y109 4,724 83,700 SH   SOLE   82,700 0 1,000
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 209 2,580 SH   SOLE   2,580 0 0
AKAMAI TECHNOLOGIES INC COM 00971T101 244 4,000 SH   SOLE   4,000 0 0
ALPHA NATURAL RESOURCES INC COM 02076X102 12,338 3,325,701 SH   SOLE   3,275,021 0 50,680
AMERICAN AIRLS GROUP INC COM 02376R102 38,670 900,129 SH   SOLE   879,729 0 20,400
AMERICAN EXPRESS CO COM 025816109 2,031 21,412 SH   SOLE   13,012 0 8,400
APPLE INC COM 037833100 10,327 111,125 SH   SOLE   97,825 0 13,300
GALLAGHER ARTHUR J & CO COM 363576109 345 7,410 SH   SOLE   7,410 0 0
AT&T INC COM 00206R102 2,266 64,085 SH   SOLE   48,385 0 15,700
ATMOS ENERGY CORP COM 049560105 230 4,300 SH   SOLE   4,300 0 0
AUTODESK INC COM 052769106 242 4,300 SH   SOLE   4,300 0 0
BALTIC TRADING LIMITED COM Y0553W103 3,278 548,158 SH   SOLE   548,158 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 6,687 52,837 SH   SOLE   45,837 0 7,000
BP PLC SPONSORED ADR 055622104 341 6,473 SH   SOLE   6,473 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 566 11,666 SH   SOLE   11,666 0 0
BARD C R INC COM 067383109 259 1,809 SH   SOLE   1,809 0 0
CBS CORP NEW CL B 124857202 2,843 45,755 SH   SOLE   31,155 0 14,600
CBS OUTDOOR AMERS INC COM 14987J106 6,645 203,330 SH   SOLE   201,730 0 1,600
CHEVRON CORP NEW COM 166764100 2,215 16,964 SH   SOLE   13,744 0 3,220
CHINA SOUTHN AIRLS LTD SPON ADR CL H 169409109 4,124 274,955 SH   SOLE   274,955 0 0
CISCO SYS INC COM 17275R102 7,743 311,580 SH   SOLE   263,650 0 47,930
CITIGROUP INC COM NEW 172967424 19,563 415,353 SH   SOLE   395,713 0 19,640
CLIFFS NAT RES INC COM 18683K101 6,160 409,281 SH   SOLE   409,281 0 0
COBALT INTL ENERGY INC COM 19075F106 14,445 787,210 SH   SOLE   787,210 0 0
COCA COLA CO COM 191216100 1,836 43,340 SH   SOLE   33,440 0 9,900
COLGATE PALMOLIVE CO COM 194162103 1,786 26,190 SH   SOLE   18,940 0 7,250
COMMUNITY BANKERS TR CORP COM 203612106 109 24,895 SH   SOLE   24,895 0 0
CONAGRA FOODS INC COM 205887102 352 11,865 SH   SOLE   11,865 0 0
CONOCOPHILLIPS COM 20825C104 229 2,670 SH   SOLE   2,670 0 0
COSTCO WHSL CORP NEW COM 22160K105 216 1,872 SH   SOLE   1,872 0 0
CVS CAREMARK CORPORATION COM 126650100 873 11,584 SH   SOLE   11,584 0 0
CYPRESS SEMICONDUCTOR CORP COM 232806109 6,517 597,300 SH   SOLE   592,300 0 5,000
D R HORTON INC COM 23331A109 18,848 766,796 SH   SOLE   714,246 0 52,550
DELTA AIR LINES INC DEL COM NEW 247361702 15,882 410,172 SH   SOLE   410,172 0 0
DIANA SHIPPING INC COM Y2066G104 2,974 273,079 SH   SOLE   273,079 0 0
DOW CHEM CO COM 260543103 246 4,780 SH   SOLE   4,780 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 677 10,350 SH   SOLE   10,350 0 0
DUKE ENERGY CORP NEW COM NEW 26441C204 452 6,091 SH   SOLE   6,091 0 0
ENSCO PLC SHS CLASS A G3157S106 28,784 517,971 SH   SOLE   499,371 0 18,600
EP ENERGY CORP CL A 268785102 6,295 273,100 SH   SOLE   273,100 0 0
EXXON MOBIL CORP COM 30231G102 2,862 28,431 SH   SOLE   22,781 0 5,650
FEDERATED INVS INC PA CL B 314211103 5,879 190,140 SH   SOLE   188,140 0 2,000
FIFTH THIRD BANCORP COM 316773100 2,052 96,100 SH   SOLE   63,450 0 32,650
FORD MTR CO DEL COM PAR $0.01 345370860 269 15,600 SH   SOLE   15,600 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 547 15,000 SH   SOLE   15,000 0 0
FREIGHTCAR AMER INC COM 357023100 10,413 415,870 SH   SOLE   415,870 0 0
GENERAL ELECTRIC CO COM 369604103 8,037 305,809 SH   SOLE   265,009 0 40,800
GENERAL MTRS CO COM 37045V100 10,083 277,770 SH   SOLE   277,770 0 0
GILEAD SCIENCES INC COM 375558103 5,819 70,180 SH   SOLE   59,180 0 11,000
GOLDMAN SACHS GROUP INC COM 38141G104 6,334 37,830 SH   SOLE   33,050 0 4,780
GOOGLE INC CL A 38259P508 1,161 1,985 SH   SOLE   1,410 0 575
GOOGLE INC CL C 38259P706 1,142 1,985 SH   SOLE   1,410 0 575
HALLIBURTON CO COM 406216101 10,060 141,667 SH   SOLE   141,667 0 0
HOLLYFRONTIER CORP COM 436106108 6,085 139,270 SH   SOLE   138,170 0 1,100
HOME DEPOT INC COM 437076102 268 3,314 SH   SOLE   3,314 0 0
HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 10,143 333,645 SH   SOLE   331,445 0 2,200
INTERNATIONAL BUSINESS MACHS COM 459200101 254 1,400 SH   SOLE   1,400 0 0
INTEL CORP COM 458140100 13,638 441,345 SH   SOLE   407,095 0 34,250
ISHARES RUS 1000 GRW ETF 464287614 927 10,200 SH   SOLE   10,200 0 0
JOHNSON & JOHNSON COM 478160104 4,074 38,945 SH   SOLE   29,025 0 9,920
KIMCO RLTY CORP COM 49446R109 8,128 353,685 SH   SOLE   350,285 0 3,400
KINDER MORGAN INC DEL COM 49456B101 5,134 141,600 SH   SOLE   140,600 0 1,000
KRAFT FOODS GROUP INC COM 50076Q106 3,831 63,911 SH   SOLE   62,911 0 1,000
LEGGETT & PLATT INC COM 524660107 6,770 197,505 SH   SOLE   195,705 0 1,800
LOCKHEED MARTIN CORP COM 539830109 7,290 45,355 SH   SOLE   45,055 0 300
LORILLARD INC COM 544147101 644 10,560 SH   SOLE   10,560 0 0
LOWES COS INC COM 548661107 215 4,485 SH   SOLE   4,485 0 0
MACYS INC COM 55616P104 6,397 110,259 SH   SOLE   94,259 0 16,000
MATTEL INC COM 577081102 3,541 90,860 SH   SOLE   90,260 0 600
MCDONALDS CORP COM 580135101 413 4,100 SH   SOLE   4,100 0 0
MERCK & CO INC NEW COM 58933Y105 6,860 118,575 SH   SOLE   117,575 0 1,000
MICHAEL KORS HLDGS LTD SHS G60754101 6,009 67,778 SH   SOLE   67,778 0 0
MORGAN STANLEY COM NEW 617446448 17,208 532,249 SH   SOLE   507,149 0 25,100
NATIONAL CINEMEDIA INC COM 635309107 4,251 242,800 SH   SOLE   240,500 0 2,300
NEW YORK CMNTY BANCORP INC COM 649445103 6,240 390,465 SH   SOLE   387,765 0 2,700
OCCIDENTAL PETE CORP DEL COM 674599105 8,478 82,603 SH   SOLE   82,603 0 0
ORACLE CORP COM 68389X105 7,010 172,955 SH   SOLE   149,455 0 23,500
PAYCHEX INC COM 704326107 4,600 110,675 SH   SOLE   109,375 0 1,300
PEABODY ENERGY CORP COM 704549104 1,471 89,940 SH   SOLE   55,240 0 34,700
PEOPLES UNITED FINANCIAL INC COM 712704105 4,435 292,360 SH   SOLE   289,360 0 3,000
PEPSICO INC COM 713448108 413 4,623 SH   SOLE   4,623 0 0
PFIZER INC COM 717081103 4,492 151,359 SH   SOLE   149,859 0 1,500
PHILIP MORRIS INTL INC COM 718172109 6,283 74,528 SH   SOLE   74,528 0 0
PLUM CREEK TIMBER CO INC COM 729251108 8,168 181,115 SH   SOLE   179,815 0 1,300
PROCTER & GAMBLE CO COM 742718109 599 7,616 SH   SOLE   7,616 0 0
RAYONIER INC COM 754907103 4,699 132,180 SH   SOLE   131,380 0 800
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 7,166 82,364 SH   SOLE   81,464 0 900
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 269 3,267 SH   SOLE   3,267 0 0
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 631 2,420 SH   SOLE   2,420 0 0
SAFE BULKERS INC COM Y7388L103 3,997 409,504 SH   SOLE   409,504 0 0
SCHLUMBERGER LTD COM 806857108 3,617 30,665 SH   SOLE   20,015 0 10,650
SCORPIO BULKERS INC SHS Y7546A106 4,860 546,086 SH   SOLE   546,086 0 0
SIX FLAGS ENTMT CORP NEW COM 83001A102 7,869 184,935 SH   SOLE   183,435 0 1,500
SOUTHERN CO COM 842587107 244 5,370 SH   SOLE   5,320 0 50
SOUTHERN COPPER CORP COM 84265V105 8,188 269,611 SH   SOLE   269,611 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 768 3,923 SH   SOLE   3,833 0 90
SPDR S&P 500 ETF TR TR UNIT 78462F103 105,376 538,400 SH Put SOLE   538,400 0 0
SPDR SERIES TRUST S&P DIVID ETF 78464A763 561 7,330 SH   SOLE   7,180 0 150
SYNERON MEDICAL LTD ORD SHS M87245102 9,846 954,048 SH   SOLE   954,048 0 0
TARGET CORP COM 87612E106 227 3,924 SH   SOLE   3,924 0 0
TOYOTA MOTOR CORP SP ADR REP2COM 892331307 227 1,900 SH   SOLE   1,900 0 0
UDR INC COM 902653104 309 10,803 SH   SOLE   10,803 0 0
U M H PROPERTIES INC COM 903002103 171 17,025 SH   SOLE   17,025 0 0
UNITED CONTL HLDGS INC COM 910047109 13,431 327,023 SH   SOLE   309,523 0 17,500
VANTAGE DRILLING COMPANY ORD SHS G93205113 7,862 4,094,998 SH   SOLE   4,094,998 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 8,368 171,029 SH   SOLE   149,249 0 21,780
WASTE MGMT INC DEL COM 94106L109 4,752 106,245 SH   SOLE   105,145 0 1,100
WELLPOINT INC COM 94973V107 7,507 69,763 SH   SOLE   59,213 0 10,550
WEYERHAEUSER CO COM 962166104 7,941 239,980 SH   SOLE   202,380 0 37,600
WINDSTREAM HLDGS INC COM 97382A101 6,299 632,420 SH   SOLE   625,420 0 7,000
ZIMMER HLDGS INC COM 98956P102 6,544 63,012 SH   SOLE   53,037 0 9,975
ENTERPRISE PRODS PARTNERS L COM 293792107 1,727 22,060 SH   SOLE   22,060 0 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 773 9,200 SH   SOLE   9,200 0 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 410 6,825 SH   SOLE   6,825 0 0
PLAINS GP HLDGS L P SHS A REP LTPN 72651A108 291 9,100 SH   SOLE   9,100 0 0
WILLIAMS PARTNERS L P COM UNIT L P 96950F104 201 3,700 SH   SOLE   3,700 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V118 645 24,254 SH   SOLE   24,254 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V126 450 24,254 SH   SOLE   24,254 0 0