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
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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
Ann Inc COM 035623107 3,447 83,109 SH   SOLE   0 0 83,109
Arch Coal COM 039380100 4,413 915,662 SH   SOLE   30,000 0 885,662
Bank of America COM 060505104 10,992 639,097 SH   SOLE   83,000 0 556,097
BP ADR COM 055622104 722 15,000 SH   SOLE   15,000 0 0
Bristol Myers Squibb COM 110122108 1,247 24,000 SH   SOLE   24,000 0 0
Chevron COM 166764100 5,146 43,275 SH   SOLE   0 0 43,275
Cisco Systems COM 17275R102 9,258 413,119 SH   SOLE   48,000 0 365,119
Citigroup COM 172967424 8,840 185,721 SH   SOLE   24,080 0 161,641
Conoco Phillips COM 20825C104 4,067 57,812 SH   SOLE   0 0 57,812
Corning COM 219350105 5,615 269,680 SH   SOLE   0 0 269,680
DuPont COM 263534109 6,880 102,538 SH   SOLE   12,000 0 90,538
Entergy COM 29364G103 695 10,400 SH   SOLE   10,400 0 0
Ford COM 345370860 7,178 460,142 SH   SOLE   60,000 0 400,142
Gannett COM 364730101 7,155 259,245 SH   SOLE   48,000 0 211,245
General Electric COM 369604103 362 14,000 SH   SOLE   14,000 0 0
Hewlett-Packard COM 428236103 13,041 403,007 SH   SOLE   63,300 0 339,707
Intel COM 458140100 8,595 333,017 SH   SOLE   42,400 0 290,617
J.P. Morgan COM 46625H100 4,673 76,972 SH   SOLE   0 0 76,972
KEYW Holdings COM 493723100 4,642 248,123 SH   SOLE   13,689 0 234,434
Kimberly-Clark COM 494368103 992 9,000 SH   SOLE   9,000 0 0
Kohl's COM 500255104 5,111 89,986 SH   SOLE   7,930 0 82,056
Eli Lilly COM 532457108 6,965 118,334 SH   SOLE   16,400 0 101,934
Partner Re COM G6852T105 3,305 31,936 SH   SOLE   0 0 31,936
Pfizer COM 717081103 6,780 211,086 SH   SOLE   30,000 0 181,086
Pitney Bowes COM 724479100 12,189 468,997 SH   SOLE   38,400 0 430,597
SunTrust COM 867914103 5,219 131,172 SH   SOLE   11,000 0 120,172
Transocean COM H8817H100 5,782 139,860 SH   SOLE   0 0 139,860
United Bankshares COM 909907107 766 25,000 SH   SOLE   25,000 0 0
United Parcel COM 911312106 6,342 65,128 SH   SOLE   6,000 0 59,128
Wells Fargo COM 949746101 5,410 108,760 SH   SOLE   14,000 0 94,760