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
3M CO COM 88579y101 6,647 40,295 SH   SOLE 22,830 0 17,465
ACCENTURE PLC IRELAND SHS CLASS A g1151c101 4,977 53,122 SH   SOLE 28,745 0 24,377
AGILENT TECHNOLOGIES INC COM 00846u101 7,271 175,000 SH   DFND 1 175,000 0 0
AGILENT TECHNOLOGIES INC COM 00846u101 3,892 93,673 SH   SOLE 50,395 0 43,278
AMERICAN AIRLS GROUP INC COM 02376r102 6,597 125,000 SH   DFND 1 125,000 0 0
AMERICAN AIRLS GROUP INC COM 02376r102 4,715 89,335 SH   SOLE 47,805 0 41,530
APACHE CORP COM 037411105 1,385 22,955 SH   SOLE 12,550 0 10,405
ASHLAND INC NEW COM 044209104 12,094 95,000 SH   DFND 1 95,000 0 0
ASHLAND INC NEW COM 044209104 5,108 40,120 SH   SOLE 21,400 0 18,720
AUTOMATIC DATA PROCESSING IN COM 053015103 3,980 46,470 SH   SOLE 24,735 0 21,735
BAKER HUGHES INC COM 057224107 1,810 28,463 SH   SOLE 15,445 0 13,018
BANK AMER CORP COM 060505104 2,155 139,994 SH   SOLE 54,738 0 85,256
BB&T CORP COM 054937107 3,899 100,000 SH   DFND 1 100,000 0 0
BB&T CORP COM 054937107 3,487 89,440 SH   SOLE 47,825 0 41,615
CAMERON INTERNATIONAL CORP COM 13342b105 7,896 175,000 SH   DFND 1 175,000 0 0
CAMERON INTERNATIONAL CORP COM 13342b105 5,749 127,423 SH   SOLE 68,360 0 59,063
CBS CORP NEW CL B 124857202 4,086 67,395 SH   SOLE 35,780 0 31,615
CBS CORP NEW CL B 124857202 6,063 100,000 SH   DFND 1 100,000 0 0
CORNING INC COM 219350105 4,536 200,000 SH   DFND 1 200,000 0 0
CORNING INC COM 219350105 3,967 174,920 SH   SOLE 93,780 0 81,140
CUMMINS INC COM 231021106 4,852 35,000 SH   DFND 1 35,000 0 0
DELPHI AUTOMOTIVE PLC SHS g27823106 7,974 100,000 SH   DFND 1 100,000 0 0
DELPHI AUTOMOTIVE PLC SHS g27823106 3,894 48,835 SH   SOLE 26,115 0 22,720
DISNEY WALT CO COM DISNEY 254687106 5,573 53,136 SH   SOLE 29,325 0 23,811
DSW INC CL A 23334L102 3,688 100,000 SH   DFND 1 100,000 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 7,147 100,000 SH   DFND 1 100,000 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 5,131 71,790 SH   SOLE 38,515 0 33,275
EATON CORP PLC SHS G29183103 3,990 58,734 SH   SOLE 31,600 0 27,134
EXPRESS SCRIPTS HLDG CO COM 30219g108 8,677 100,000 SH   DFND 1 100,000 0 0
EXPRESS SCRIPTS HLDG CO COM 30219g108 4,665 53,760 SH   SOLE 28,770 0 24,990
F M C CORP COM NEW 302491303 4,372 76,360 SH   SOLE 40,830 0 35,530
FLUOR CORP NEW COM 343412102 2,858 50,000 SH   DFND 1 50,000 0 0
GOLDMAN SACHS GROUP INC COM 38141g104 9,398 50,000 SH   DFND 1 50,000 0 0
GOLDMAN SACHS GROUP INC COM 38141g104 5,445 28,968 SH   SOLE 13,065 0 15,903
HERTZ GLOBAL HOLDINGS INC COM 42805t105 4,336 200,000 SH   DFND 1 200,000 0 0
HERTZ GLOBAL HOLDINGS INC COM 42805t105 3,768 173,780 SH   SOLE 92,760 0 81,020
INTL PAPER CO COM 460146103 3,897 70,222 SH   SOLE 37,620 0 32,602
JACOBS ENGR GROUP INC DEL COM 469814107 2,656 58,815 SH   SOLE 31,250 0 27,565
KEYSIGHT TECHNOLOGIES INC COM 49338l103 5,572 150,000 SH   DFND 1 150,000 0 0
KEYSIGHT TECHNOLOGIES INC COM 49338l103 4,112 110,690 SH   SOLE 59,152 0 51,538
LIBERTY GLOBAL PLC SHS CL C g5480u120 3,918 78,650 SH   SOLE 42,070 0 36,580
LOCKHEED MARTIN CORP COM 539830109 4,702 23,168 SH   SOLE 12,305 0 10,863
MACYS INC COM 55616p104 4,980 76,722 SH   SOLE 42,670 0 34,052
MANITOWOC INC COM 563571108 2,156 100,000 SH   DFND 1 100,000 0 0
METLIFE INC COM 59156r108 10,110 200,000 SH   DFND 1 200,000 0 0
METLIFE INC COM 59156r108 4,142 81,933 SH   SOLE 43,670 0 38,263
MICROSOFT CORP COM 594918104 3,467 85,287 SH   SOLE 45,790 0 39,497
MONSANTO CO NEW COM 61166w101 3,204 28,467 SH   SOLE 15,195 0 13,272
NIKE INC CL B 654106103 5,457 54,391 SH   SOLE 29,305 0 25,086
PEPSICO INC COM 713448108 3,460 36,190 SH   SOLE 19,380 0 16,810
SCHLUMBERGER LTD COM 806857108 4,458 53,424 SH   SOLE 28,765 0 24,659
TIMKEN CO COM 887389104 2,205 52,325 SH   SOLE 27,890 0 24,435
U S G CORP COM NEW 903293405 6,408 240,000 SH   DFND 1 240,000 0 0
U S G CORP COM NEW 903293405 2,135 79,974 SH   SOLE 42,660 0 37,314
UNION PAC CORP COM 907818108 5,715 52,762 SH   SOLE 28,570 0 24,192
UNITED PARCEL SERVICE INC CL B 911312106 3,753 38,710 SH   SOLE 20,730 0 17,980
UNITED RENTALS INC COM 911363109 4,114 45,125 SH   SOLE 23,930 0 21,195
UNITED TECHNOLOGIES CORP COM 913017109 5,503 46,950 SH   SOLE 25,200 0 21,750
WABCO HLDGS INC COM 92927k102 5,859 47,680 SH   SOLE 25,522 0 22,158
WELLS FARGO & CO NEW COM 949746101 4,729 86,930 SH   SOLE 53,280 0 33,650