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
AGCO CORP COM 001084102 5,045 91,456 SH   SOLE   91,456 0 0
AK STL HLDG CORP COM 001547108 972 134,600 SH Call SOLE   134,600 0 0
AK STL HLDG CORP COM 001547108 5,407 748,844 SH   SOLE   748,844 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 27,738 757,868 SH   SOLE   757,868 0 0
AMERICAN AXLE & MFG HLDGS IN COM 024061103 7,614 411,099 SH   SOLE   411,099 0 0
ANADARKO PETE CORP COM 032511107 3,187 37,595 SH   SOLE   37,595 0 0
ATWOOD OCEANICS INC COM 050095108 14,721 292,147 SH   SOLE   292,147 0 0
AURICO GOLD INC COM 05155C105 2,640 606,850 SH   SOLE   606,850 0 0
AXIALL CORP COM 05463D100 1,367 30,433 SH   SOLE   30,433 0 0
CAESARSTONE SDOT-YAM LTD ORD SHS M20598104 5,975 109,870 SH   SOLE   109,870 0 0
CF INDS HLDGS INC COM 125269100 26,340 101,060 SH   SOLE   101,060 0 0
CHART INDS INC COM PAR $0.01 16115Q308 4,152 52,258 SH   SOLE   52,258 0 0
CHENIERE ENERGY INC COM NEW 16411R208 28,921 522,508 SH   SOLE   522,508 0 0
CHENIERE ENERGY INC COM NEW 16411R208 30,669 554,100 SH Call SOLE   554,100 0 0
CHICAGO BRIDGE & IRON CO N V COM 167250109 7,937 91,072 SH   SOLE   91,072 0 0
CLOUD PEAK ENERGY INC COM 18911Q102 8,710 412,004 SH   SOLE   412,004 0 0
CONSTELLIUM NV CL A N22035104 8,013 272,999 SH   SOLE   272,999 0 0
CONTINENTAL RESOURCES INC COM 212015101 14,218 114,415 SH   SOLE   114,415 0 0
COOPER TIRE & RUBR CO COM 216831107 9,229 379,792 SH   SOLE   379,792 0 0
COPA HOLDINGS SA CL A P31076105 10,689 73,620 SH   SOLE   73,620 0 0
CUMMINS INC COM 231021106 5,833 39,147 SH   SOLE   39,147 0 0
DANA HLDG CORP COM 235825205 8,800 378,181 SH   SOLE   378,181 0 0
DEERE & CO COM 244199105 10,712 117,970 SH   SOLE   117,970 0 0
DELEK US HLDGS INC COM 246647101 5,916 203,724 SH   SOLE   203,724 0 0
DELPHI AUTOMOTIVE PLC SHS G27823106 18,066 266,218 SH   SOLE   266,218 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 16,799 484,819 SH   SOLE   484,819 0 0
EAGLE MATERIALS INC COM 26969P108 5,554 62,640 SH   SOLE   62,640 0 0
ELDORADO GOLD CORP NEW COM 284902103 6,093 1,091,959 SH   SOLE   1,091,959 0 0
ENSCO PLC SHS CLASS A G3157S106 2,071 39,240 SH   SOLE   39,240 0 0
EOG RES INC COM 26875P101 24,043 122,561 SH   SOLE   122,561 0 0
EQT CORP COM 26884L109 14,031 144,694 SH   SOLE   144,694 0 0
ESTERLINE TECHNOLOGIES CORP COM 297425100 2,868 26,918 SH   SOLE   26,918 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 12,666 811,907 SH   SOLE   811,907 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 8,902 269,200 SH Call SOLE   269,200 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 13,144 397,454 SH   SOLE   397,454 0 0
GENERAL MTRS CO COM 37045V100 9,311 270,500 SH Call SOLE   270,500 0 0
GENERAL MTRS CO COM 37045V100 16,787 487,702 SH   SOLE   487,702 0 0
GOLD FIELDS LTD NEW SPONSORED ADR 38059T106 2,456 665,501 SH   SOLE   665,501 0 0
GOLDCORP INC NEW COM 380956409 3,948 161,282 SH   SOLE   161,282 0 0
GOODYEAR TIRE & RUBR CO COM 382550101 7,881 301,615 SH   SOLE   301,615 0 0
GRAPHIC PACKAGING HLDG CO COM 388689101 21,001 2,067,001 SH   SOLE   2,067,001 0 0
H & E EQUIPMENT SERVICES INC COM 404030108 7,431 183,714 SH   SOLE   183,714 0 0
HALLIBURTON CO COM 406216101 8,212 139,446 SH   SOLE   139,446 0 0
HESS CORP COM 42809H107 10,552 127,315 SH   SOLE   127,315 0 0
HONDA MOTOR LTD AMERN SHS 438128308 3,009 85,133 SH   SOLE   85,133 0 0
HONEYWELL INTL INC COM 438516106 13,056 140,747 SH   SOLE   140,747 0 0
HORNBECK OFFSHORE SVCS INC N COM 440543106 10,471 250,448 SH   SOLE   250,448 0 0
HUNT J B TRANS SVCS INC COM 445658107 3,055 42,474 SH   SOLE   42,474 0 0
INGERSOLL-RAND PLC SHS G47791101 3,445 60,188 SH   SOLE   60,188 0 0
KAPSTONE PAPER & PACKAGING C COM 48562P103 3,762 130,454 SH   SOLE   130,454 0 0
LEAR CORP COM NEW 521865204 18,645 222,707 SH   SOLE   222,707 0 0
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 15,490 174,158 SH   SOLE   174,158 0 0
MERITOR INC COM 59001K100 3,837 313,249 SH   SOLE   313,249 0 0
MOSAIC CO NEW COM 61945C103 20,190 403,800 SH Call SOLE   403,800 0 0
MOSAIC CO NEW COM 61945C103 23,148 462,966 SH   SOLE   462,966 0 0
NOBLE ENERGY INC COM 655044105 18,199 256,181 SH   SOLE   256,181 0 0
OASIS PETE INC NEW COM 674215108 9,301 222,875 SH   SOLE   222,875 0 0
PACCAR INC COM 693718108 4,267 63,265 SH   SOLE   63,265 0 0
PBF ENERGY INC CL A 69318G106 9,584 371,463 SH   SOLE   371,463 0 0
PDC ENERGY INC COM 69327R101 5,250 84,327 SH   SOLE   84,327 0 0
PLATINUM GROUP METALS LTD COM NEW 72765Q205 2,039 2,018,715 SH   SOLE   2,018,715 0 0
PRECISION DRILLING CORP COM 2010 74022D308 3,413 285,161 SH   SOLE   285,161 0 0
RENTECH NITROGEN PARTNERS L COM UNIT 760113100 17,534 942,200 SH Call SOLE   942,200 0 0
ROCK-TENN CO CL A 772739207 5,513 52,226 SH   SOLE   52,226 0 0
ROCKWELL AUTOMATION INC COM 773903109 3,929 31,543 SH   SOLE   31,543 0 0
ROWAN COMPANIES PLC SHS CL A G7665A101 10,581 314,159 SH   SOLE   314,159 0 0
SCHLUMBERGER LTD COM 806857108 3,387 34,737 SH   SOLE   34,737 0 0
SPIRIT AIRLS INC COM 848577102 3,687 62,070 SH   SOLE   62,070 0 0
STEEL DYNAMICS INC COM 858119100 7,858 441,687 SH   SOLE   441,687 0 0
SWIFT TRANSN CO CL A 87074U101 16,043 648,182 SH   SOLE   648,182 0 0
TENNECO INC COM 880349105 7,593 130,752 SH   SOLE   130,752 0 0
TEREX CORP NEW COM 880779103 6,128 138,320 SH   SOLE   138,320 0 0
TESORO CORP COM 881609101 17,245 340,870 SH   SOLE   340,870 0 0
TIMKEN CO COM 887389104 4,336 73,767 SH   SOLE   73,767 0 0
TRINITY INDS INC COM 896522109 17,241 239,232 SH   SOLE   239,232 0 0
UNION PAC CORP COM 907818108 12,481 66,506 SH   SOLE   66,506 0 0
UNITED RENTALS INC COM 911363109 18,113 190,783 SH   SOLE   190,783 0 0
UNITED STATES STL CORP NEW COM 912909108 13,764 498,505 SH   SOLE   498,505 0 0
UNITED TECHNOLOGIES CORP COM 913017109 9,645 82,550 SH   SOLE   82,550 0 0
VALERO ENERGY CORP NEW COM 91913Y100 23,940 450,845 SH   SOLE   450,845 0 0
VISTEON CORP COM NEW 92839U206 7,428 83,990 SH   SOLE   83,990 0 0
WHIRLPOOL CORP COM 963320106 6,645 44,461 SH   SOLE   44,461 0 0