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
AES CORP COM 00130H105 10,131 844,941 SH   SOLE N/A 844,941 0 0
AGCO CORP COM 001084102 10,193 203,098 SH   SOLE N/A 203,098 0 0
ALASKA AIR GROUP INC COM 011659109 4,270 82,124 SH   SOLE N/A 82,124 0 0
ALBEMARLE CORP COM 012653101 5,486 88,070 SH   SOLE N/A 88,070 0 0
AMDOCS LTD ORD G02602103 1,184 31,919 SH   SOLE N/A 31,919 0 0
AMERICAN CAPITAL AGENCY CORP COM 02503X105 10,143 441,191 SH   SOLE N/A 441,191 0 0
AMERICAN EAGLE OUTFITTERS NE COM 02553E106 10,066 551,240 SH   SOLE N/A 551,240 0 0
ANNALY CAP MGMT INC COM 035710409 10,782 857,781 SH   SOLE N/A 857,781 0 0
APPLE INC COM 037833100 618 1,561 SH   SOLE N/A 1,561 0 0
ASHLAND INC NEW COM 044209104 7,617 91,221 SH   SOLE N/A 91,221 0 0
AUTONATION INC COM 05329W102 3,211 74,006 SH   SOLE N/A 74,006 0 0
BUNGE LIMITED COM G16962105 11,039 155,988 SH   SOLE N/A 155,988 0 0
CF INDS HLDGS INC COM 125269100 10,028 58,473 SH   SOLE N/A 58,473 0 0
CHURCH & DWIGHT INC COM 171340102 1,087 17,615 SH   SOLE N/A 17,615 0 0
CIT GROUP INC COM NEW 125581801 2,970 63,701 SH   SOLE N/A 63,701 0 0
CITIGROUP INC COM NEW 172967424 10,826 225,681 SH   SOLE N/A 225,681 0 0
COCA COLA ENTERPRISES INC NE COM 19122T109 11,294 321,205 SH   SOLE N/A 321,205 0 0
COMPUTER SCIENCES CORP COM 205363104 7,691 175,713 SH   SOLE N/A 175,713 0 0
EQUINIX INC COM NEW 29444U502 5,625 30,452 SH   SOLE N/A 30,452 0 0
EVEREST RE GROUP LTD COM G3223R108 4,117 32,097 SH   SOLE N/A 32,097 0 0
EXXON MOBIL CORP COM 30231G102 10,879 120,412 SH   SOLE N/A 120,412 0 0
FIDELITY NATIONAL FINANCIAL CL A 31620R105 7,014 294,565 SH   SOLE N/A 294,565 0 0
FIRSTENERGY CORP COM 337932107 10,935 292,838 SH   SOLE N/A 292,838 0 0
FOOT LOCKER INC COM 344849104 10,926 311,029 SH   SOLE N/A 311,029 0 0
GAMESTOP CORP NEW CL A 36467W109 11,231 267,223 SH   SOLE N/A 267,223 0 0
GANNETT INC COM 364730101 10,916 446,299 SH   SOLE N/A 446,299 0 0
HARLEY DAVIDSON INC COM 412822108 202 3,689 SH   SOLE N/A 3,689 0 0
HARRIS CORP DEL COM 413875105 11,350 230,462 SH   SOLE N/A 230,462 0 0
HELMERICH & PAYNE INC COM 423452101 10,622 170,085 SH   SOLE N/A 170,085 0 0
HESS CORP COM 42809H107 5,579 83,901 SH   SOLE N/A 83,901 0 0
HOLLYFRONTIER CORP COM 436106108 10,668 249,376 SH   SOLE N/A 249,376 0 0
HUMANA INC COM 444859102 3,081 36,511 SH   SOLE N/A 36,511 0 0
HUNTSMAN CORP COM 447011107 8,332 503,149 SH   SOLE N/A 503,149 0 0
INGREDION INC COM 457187102 10,652 162,332 SH   SOLE N/A 162,332 0 0
INTERNATIONAL GAME TECHNOLOG COM 459902102 5,235 313,264 SH   SOLE N/A 313,264 0 0
INTL PAPER CO COM 460146103 6,698 151,173 SH   SOLE N/A 151,173 0 0
JARDEN CORP COM 471109108 4,666 106,642 SH   SOLE N/A 106,642 0 0
JOY GLOBAL INC COM 481165108 9,564 197,066 SH   SOLE N/A 197,066 0 0
L-3 COMMUNICATIONS HLDGS INC COM 502424104 11,549 134,697 SH   SOLE N/A 134,697 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409 1,898 18,962 SH   SOLE N/A 18,962 0 0
LEAR CORP COM NEW 521865204 11,409 188,707 SH   SOLE N/A 188,707 0 0
M & T BK CORP COM 55261F104 3,533 31,612 SH   SOLE N/A 31,612 0 0
MACYS INC COM 55616P104 11,092 231,084 SH   SOLE N/A 231,084 0 0
MARATHON PETE CORP COM 56585A102 2,565 36,101 SH   SOLE N/A 36,101 0 0
MYLAN INC COM 628530107 11,052 356,156 SH   SOLE N/A 356,156 0 0
NOBLE CORPORATION BAAR NAMEN -AKT H5833N103 6,940 184,664 SH   SOLE N/A 184,664 0 0
ON SEMICONDUCTOR CORP COM 682189105 7,215 892,958 SH   SOLE N/A 892,958 0 0
ORACLE CORP COM 68389X105 9,806 319,214 SH   SOLE N/A 319,214 0 0
PARTNERRE LTD COM G6852T105 2,139 23,622 SH   SOLE N/A 23,622 0 0
RAYMOND JAMES FINANCIAL INC COM 754730109 6,486 150,919 SH   SOLE N/A 150,919 0 0
ROYAL CARIBBEAN CRUISES LTD COM V7780T103 10,684 320,467 SH   SOLE N/A 320,467 0 0
SAIC INC COM 78390X101 4,661 334,613 SH   SOLE N/A 334,613 0 0
TORCHMARK CORP COM 891027104 5,780 88,726 SH   SOLE N/A 88,726 0 0
TRANSOCEAN LTD REG SHS H8817H100 10,758 224,363 SH   SOLE N/A 224,363 0 0
TRW AUTOMOTIVE HLDGS CORP COM 87264S106 12,618 189,918 SH   SOLE N/A 189,918 0 0
TWO HBRS INVT CORP COM 90187B101 10,144 989,646 SH   SOLE N/A 989,646 0 0
TYSON FOODS INC CL A 902494103 10,360 403,446 SH   SOLE N/A 403,446 0 0
UNITED CONTL HLDGS INC COM 910047109 11,317 361,676 SH   SOLE N/A 361,676 0 0
UNITED RENTALS INC COM 911363109 4,961 99,408 SH   SOLE N/A 99,408 0 0
VALERO ENERGY CORP NEW COM 91913Y100 10,981 315,824 SH   SOLE N/A 315,824 0 0
WELLS FARGO & CO NEW COM 949746101 8,055 195,176 SH   SOLE N/A 195,176 0 0
WHIRLPOOL CORP COM 963320106 1,633 14,278 SH   SOLE N/A 14,278 0 0
XL GROUP PLC SHS G98290102 2,914 96,115 SH   SOLE N/A 96,115 0 0
ZIMMER HLDGS INC COM 98956P102 10,580 141,182 SH   SOLE N/A 141,182 0 0