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
ARGAN INC COM 04010E109 4,043 102,900 SH   SOLE 7,100 0 95,800
BANK AMER CORP COM 060505104 2,112 72,400 SH   SOLE 0 0 72,400
BHP GROUP LIMITED SPONSORED ADS 088606108 3,022 61,200 SH   SOLE 0 0 61,200
FOOT LOCKER INC COM 344849104 5,015 116,200 SH   SOLE 13,500 0 102,700
L BRANDS INC COM 501797104 3,491 178,200 SH   SOLE 0 0 178,200
LEGG MASON INC COM 524901105 1,214 31,800 SH   SOLE 5,300 0 26,500
MORGAN STANLEY COM NEW 617446448 2,027 47,503 SH   SOLE 0 0 47,503
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 2,129 36,181 SH   SOLE 0 0 36,181
TEVA PHARMACEUTICAL INDS LTD SPONSORED ADR 881624209 3,090 449,200 SH   SOLE 0 0 449,200
TUPPERWARE BRANDS CORP COM 899896104 3,157 198,900 SH   SOLE 0 0 198,900