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 5,890 38,174 SH   SOLE 22,685 0 15,489
ACCENTURE PLC IRELAND SHS CLASS A g1151c101 4,854 50,153 SH   SOLE 28,490 0 21,663
AGILENT TECHNOLOGIES INC COM 00846u101 6,751 175,000 SH   DFND 1 175,000 0 0
AGILENT TECHNOLOGIES INC COM 00846u101 3,406 88,290 SH   SOLE 49,995 0 38,295
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609w102 4,113 50,000 SH   DFND 1 50,000 0 0
AMERICAN AIRLS GROUP INC COM 02376r102 7,987 200,000 SH   DFND 1 200,000 0 0
AMERICAN AIRLS GROUP INC COM 02376r102 4,962 124,255 SH   SOLE 69,060 0 55,195
APACHE CORP COM 037411105 1,246 21,615 SH   SOLE 12,425 0 9,190
ASHLAND INC NEW COM 044209104 11,580 95,000 SH   DFND 1 95,000 0 0
ASHLAND INC NEW COM 044209104 4,616 37,865 SH   SOLE 21,260 0 16,605
AUTOMATIC DATA PROCESSING IN COM 053015103 3,507 43,710 SH   SOLE 24,480 0 19,230
BAKER HUGHES INC COM 057224107 1,654 26,813 SH   SOLE 15,315 0 11,498
BANK AMER CORP COM 060505104 2,186 128,412 SH   SOLE 53,953 0 74,459
BB&T CORP COM 054937107 4,031 100,000 SH   DFND 1 100,000 0 0
BB&T CORP COM 054937107 3,404 84,455 SH   SOLE 47,430 0 37,025
CAMERON INTERNATIONAL CORP COM 13342b105 6,287 120,043 SH   SOLE 67,825 0 52,218
CAMERON INTERNATIONAL CORP COM 13342b105 9,165 175,000 SH   DFND 1 175,000 0 0
CBS CORP NEW CL B 124857202 5,550 100,000 SH   DFND 1 100,000 0 0
CBS CORP NEW CL B 124857202 3,532 63,635 SH   SOLE 35,500 0 28,135
CORNING INC COM 219350105 3,946 200,000 SH   DFND 1 200,000 0 0
CORNING INC COM 219350105 3,256 165,035 SH   SOLE 92,985 0 72,050
CUMMINS INC COM 231021106 4,592 35,000 SH   DFND 1 35,000 0 0
DELPHI AUTOMOTIVE PLC SHS g27823106 8,509 100,000 SH   DFND 1 100,000 0 0
DELPHI AUTOMOTIVE PLC SHS g27823106 3,922 46,095 SH   SOLE 25,860 0 20,235
DISNEY WALT CO COM DISNEY 254687106 5,785 50,681 SH   SOLE 29,065 0 21,616
DSW INC CL A 23334L102 3,337 100,000 SH   DFND 1 100,000 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 6,395 100,000 SH   DFND 1 100,000 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 5,920 92,575 SH   SOLE 51,270 0 41,305
EATON CORP PLC SHS G29183103 3,737 55,375 SH   SOLE 31,340 0 24,035
EXPRESS SCRIPTS HLDG CO COM 30219g108 4,513 50,745 SH   SOLE 28,515 0 22,230
EXPRESS SCRIPTS HLDG CO COM 30219g108 8,894 100,000 SH   DFND 1 100,000 0 0
F M C CORP COM NEW 302491303 3,788 72,075 SH   SOLE 40,445 0 31,630
FLUOR CORP NEW COM 343412102 2,650 50,000 SH   DFND 1 50,000 0 0
GOLDMAN SACHS GROUP INC COM 38141g104 10,439 50,000 SH   DFND 1 50,000 0 0
GOLDMAN SACHS GROUP INC COM 38141g104 5,636 26,993 SH   SOLE 12,930 0 14,063
HERTZ GLOBAL HOLDINGS INC COM 42805t105 3,624 200,000 SH   DFND 1 200,000 0 0
HERTZ GLOBAL HOLDINGS INC COM 42805t105 2,972 164,035 SH   SOLE 91,970 0 72,065
INTL PAPER CO COM 460146103 3,156 66,320 SH   SOLE 37,345 0 28,975
JACOBS ENGR GROUP INC DEL COM 469814107 2,252 55,445 SH   SOLE 31,050 0 24,395
LIBERTY GLOBAL PLC SHS CL C g5480u120 3,758 74,230 SH   SOLE 41,680 0 32,550
LOCKHEED MARTIN CORP COM 539830109 4,048 21,773 SH   SOLE 12,175 0 9,598
MACYS INC COM 55616p104 4,922 72,947 SH   SOLE 41,685 0 31,262
MANITOWOC INC COM 563571108 1,960 100,000 SH   DFND 1 100,000 0 0
METLIFE INC COM 59156r108 11,198 200,000 SH   DFND 1 200,000 0 0
METLIFE INC COM 59156r108 4,321 77,168 SH   SOLE 43,280 0 33,888
MICROSOFT CORP COM 594918104 3,547 80,337 SH   SOLE 45,400 0 34,937
MONSANTO CO NEW COM 61166w101 2,859 26,825 SH   SOLE 15,060 0 11,765
NIKE INC CL B 654106103 5,526 51,161 SH   SOLE 29,050 0 22,111
PEPSICO INC COM 713448108 3,190 34,175 SH   SOLE 19,240 0 14,935
SCHLUMBERGER LTD COM 806857108 4,337 50,322 SH   SOLE 28,510 0 21,812
U S G CORP COM NEW 903293405 6,670 240,000 SH   DFND 1 240,000 0 0
U S G CORP COM NEW 903293405 2,093 75,304 SH   SOLE 42,275 0 33,029
UNION PAC CORP COM 907818108 4,733 49,630 SH   SOLE 28,310 0 21,320
UNITED PARCEL SERVICE INC CL B 911312106 3,541 36,538 SH   SOLE 20,630 0 15,908
UNITED RENTALS INC COM 911363109 3,740 42,685 SH   SOLE 23,780 0 18,905
UNITED TECHNOLOGIES CORP COM 913017109 4,902 44,193 SH   SOLE 24,950 0 19,243
WABCO HLDGS INC COM 92927k102 5,549 44,855 SH   SOLE 25,322 0 19,533
WELLS FARGO & CO NEW COM 949746101 4,866 86,520 SH   SOLE 52,870 0 33,650