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
ALCOA INC COM 013817101 243,262 18,901,505 SH   SOLE 0 7,754,935 0 11,146,570
ALLEGHENY TECHNOLOGIES COM 01741R102 168,979 4,484,571 SH   SOLE 0 1,856,250 0 2,628,321
AVON PRODUCTS INC COM 054303102 57,448 3,924,040 SH   SOLE 0 1,601,280 0 2,322,760
BEAM INC COM 073730103 228,661 2,745,029 SH   SOLE 0 1,091,521 0 1,653,508
BIG LOTS INC COM 089302103 164,897 4,354,280 SH   SOLE 0 1,837,070 0 2,517,210
BALL CORP COM 058498106 151,686 2,767,490 SH   SOLE 0 1,129,924 0 1,637,566
BROWN SHOE COMPANY COM 115736100 1,384 52,140 SH   SOLE 0 52,140 0 0
CROWN HOLDINGS INC COM 228368106 255,200 5,704,058 SH   SOLE 0 2,347,782 0 3,356,276
CLECO CORP COM 12561W105 840 16,600 SH   SOLE 0 16,600 0 0
CON-WAY INC COM 205944101 98,660 2,401,664 SH   SOLE 0 964,099 0 1,437,565
CONSOL ENERGY COM 20854P109 189,714 4,748,796 SH   SOLE 0 1,965,270 0 2,783,526
DOMINION RESOURCES INC COM 25746U109 338,926 4,774,272 SH   SOLE 0 1,862,955 0 2,911,317
DOW CHEMICAL CO COM 260543103 275,694 5,673,876 SH   SOLE 0 2,213,285 0 3,460,591
DEVON ENERGY COM 25179M103 204,647 3,057,625 SH   SOLE 0 1,236,425 0 1,821,200
EL PASO PIPELIN PTNRS COM 283702108 530 17,450 SH   SOLE 0 17,450 0 0
FORTUNE BRANDS HOME & SEC COM 34964C106 722 17,150 SH   SOLE 0 17,150 0 0
FMC CORP COM 302491303 148,411 1,938,493 SH   SOLE 0 768,887 0 1,169,606
HEALTHSOUTH CORP COM 421924309 1,670 46,490 SH   SOLE 0 46,490 0 0
INTERNATIONAL PAPER COM 460146103 235,330 5,129,246 SH   SOLE 0 2,086,882 0 3,042,364
ITT CORP COM 450911201 1,586 37,095 SH   SOLE 0 37,095 0 0
KINDER MORGAN COM 49456B101 117,799 3,625,703 SH   SOLE 0 1,465,849 0 2,159,854
MASCO CORP COM 574599106 622 28,000 SH   SOLE 0 28,000 0 0
NABORS INDUSTRIES COM G6359F103 336,886 13,666,777 SH   SOLE 0 5,635,510 0 8,031,267
NATIONAL FUEL GAS COM 636180101 1,949 27,820 SH   SOLE 0 27,820 0 0
OWENS CORNING COM 690742101 206,122 4,774,667 SH   SOLE 0 1,969,093 0 2,805,574
ONE GAS INC. COM 68235P108 43,935 1,222,802 SH   SOLE 0 498,945 0 723,857
OWENS ILLINOIS COM 690768403 252,302 7,457,927 SH   SOLE 0 3,051,140 0 4,406,787
ONEOK INC COM 682680103 291,912 4,926,778 SH   SOLE 0 2,008,323 0 2,918,455
OCCIDENTAL PETROLEUM COM 674599105 121,446 1,274,490 SH   SOLE 0 488,620 0 785,870
PITNEY BOWES INC COM 724479100 650 25,000 SH   SOLE 0 25,000 0 0
PACKAGING CORP OF AMERICA COM 695156109 464 6,600 SH   SOLE 0 6,600 0 0
ROWAN COMPANIES PLC COM G7665A101 160,000 4,750,590 SH   SOLE 0 1,951,190 0 2,799,400
ROCKWOOD HOLDINGS COM 774415103 4,181 56,200 SH   SOLE 0 56,200 0 0
REPUBLIC SERVICES INC COM 760759100 232,900 6,817,920 SH   SOLE 0 2,810,932 0 4,006,988
RAYTHEON COM 755111507 247,734 2,507,685 SH   SOLE 0 999,684 0 1,508,001
SPECTRA ENERGY COM 847560109 549 14,850 SH   SOLE 0 14,850 0 0
SEALED AIR CORP COM 81211K100 158,136 4,810,950 SH   SOLE 0 2,037,470 0 2,773,480
SPX CORP COM 784635104 104,538 1,063,348 SH   SOLE 0 435,230 0 628,118
QUESTAR CORP COM 748356102 3,422 143,920 SH   SOLE 0 143,920 0 0
SAFEWAY INC. COM 786514208 350,190 9,479,978 SH   SOLE 0 3,906,782 0 5,573,196
SUNCOKE ENERGY INC COM 86722A103 940 41,140 SH   SOLE 0 41,140 0 0
CARROLS RESTAURANT GROUP COM 14574X104 355 49,550 SH   SOLE 0 49,550 0 0
TELEDYNE TECHNOLOGIES COM 879360105 443 4,550 SH   SOLE 0 4,550 0 0
TJX COMPANIES COM 872540109 197,161 3,250,796 SH   SOLE 0 1,302,578 0 1,948,218
TRINITY IND COM 896522109 677 9,400 SH   SOLE 0 9,400 0 0
TEXAS INDUSTRIES COM 882491103 1,449 16,170 SH   SOLE 0 16,170 0 0
USG CORP COM 903293405 133,458 4,078,785 SH   SOLE 0 1,698,196 0 2,380,589
VALSPAR CORP COM 920355104 1,056 14,640 SH   SOLE 0 14,640 0 0
WASTE CONNECTIONS INC COM 941053100 2,180 49,695 SH   SOLE 0 49,695 0 0
WILLIAMS COMPANIES INC COM 969457100 883 21,750 SH   SOLE 0 21,750 0 0
WEYERHAEUSER CO COM 962166104 218,803 7,454,953 SH   SOLE 0 2,982,361 0 4,472,592
EXELIS INC COM 30162A108 1,627 85,580 SH   SOLE 0 85,580 0 0
XYLEM INC COM 98419M100 179,420 4,926,418 SH   SOLE 0 2,016,750 0 2,909,668