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
ABBVIE INC COM 00287Y109 3,702 65,600 SH   DFND 01,02 65,600 0 0
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 2,595 32,100 SH   DFND 01,02 32,100 0 0
ALTRIA GROUP INC COM 02209S103 2,953 70,400 SH   DFND 01,02 70,400 0 0
AMERICAN ELEC PWR INC COM 025537101 2,820 50,564 SH   DFND 01,02 50,564 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 1,861 34,100 SH   DFND 01,02 34,100 0 0
AT&T INC COM 00206R102 3,037 85,900 SH   DFND 01,02 85,900 0 0
BANKUNITED INC COM 06652K103 1,490 44,500 SH   DFND 01,02 44,500 0 0
BOEING CO COM 097023105 2,143 16,840 SH   DFND 01,02 16,840 0 0
COLGATE PALMOLIVE CO COM 194162103 3,044 44,640 SH   DFND 01,02 44,640 0 0
CONOCOPHILLIPS COM 20825C104 2,632 30,700 SH   DFND 01,02 30,700 0 0
CRANE CO COM 224399105 7 100 SH   DFND 01,02 100 0 0
CSX CORP COM 126408103 62 2,000 SH   DFND 01,02 2,000 0 0
FIRSTENERGY CORP COM 337932107 1,590 45,800 SH   DFND 01,02 45,800 0 0
FOSTER L B CO COM 350060109 22 400 SH   DFND 01,02 400 0 0
FREIGHTCAR AMER INC COM 357023100 8 300 SH   DFND 01,02 300 0 0
GENERAL DYNAMICS CORP COM 369550108 2,681 23,000 SH   DFND 01,02 23,000 0 0
GENERAL ELECTRIC CO COM 369604103 4,304 163,800 SH   DFND 01,02 163,800 0 0
GENESEE & WYO INC CL A 371559105 63 600 SH   DFND 01,02 600 0 0
GREENBRIER COS INC COM 393657101 69 1,200 SH   DFND 01,02 1,200 0 0
HOLLYSYS AUTOMATION TECHNOLO SHS G45667105 98 4,000 SH   DFND 01,02 4,000 0 0
HORMEL FOODS CORP COM 440452100 1,066 21,600 SH   DFND 01,02 21,600 0 0
JOHNSON & JOHNSON COM 478160104 2,888 27,600 SH   DFND 01,02 27,600 0 0
JPMORGAN CHASE & CO COM 46625H100 2,136 37,068 SH   DFND 01,02 37,068 0 0
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 1,719 17,600 SH   DFND 01,02 17,600 0 0
MDU RES GROUP INC COM 552690109 2,657 75,700 SH   DFND 01,02 75,700 0 0
MERCK & CO INC NEW COM 58933Y105 4,238 73,251 SH   DFND 01,02 73,251 0 0
MICROSOFT CORP COM 594918104 3,508 84,127 SH   DFND 01,02 84,127 0 0
NORFOLK SOUTHERN CORP COM 655844108 1,901 18,445 SH   DFND 01,02 18,445 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 2,500 24,360 SH   DFND 01,02 24,360 0 0
PROCTER & GAMBLE CO COM 742718109 2,979 37,900 SH   DFND 01,02 37,900 0 0
PRUDENTIAL FINL INC COM 744320102 1,669 18,800 SH   DFND 01,02 18,800 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 192 1,500 SH   DFND 01,02 1,500 0 0
TEXAS INSTRS INC COM 882508104 2,944 61,600 SH   DFND 01,02 61,600 0 0
TIME WARNER CABLE INC COM 88732J207 2,578 17,500 SH   DFND 01,02 17,500 0 0
TRINITY INDS INC COM 896522109 131 3,000 SH   DFND 01,02 3,000 0 0
UNION PAC CORP COM 907818108 120 1,200 SH   DFND 01,02 1,200 0 0
UNITED TECHNOLOGIES CORP COM 913017109 1,582 13,700 SH   DFND 01,02 13,700 0 0
WABTEC CORP COM 929740108 99 1,200 SH   DFND 01,02 1,200 0 0
WHIRLPOOL CORP COM 963320106 1,942 13,950 SH   DFND 01,02 13,950 0 0